Common use of Executive Incentive Compensation Clause in Contracts

Executive Incentive Compensation. In general, the Bank believes that superior performance of Executive should be rewarded and encouraged by incentive compensation. The Bank Board shall adopt the Plan pursuant to which Executive may be entitled to incentive compensation provided that the performance goals of the Bank as set forth in the Plan are achieved and the terms and conditions of the Plan are satisfied. In addition, Executive shall be entitled to other incentive compensation and bonuses as the Bank Board may determine in its sole discretion. Notwithstanding the foregoing, Executive shall not participate in the Bank’s Team Share Plan.

Executive Incentive Compensation. In general, the Bank believes that superior performance of Executive should be rewarded and encouraged by incentive compensation. The the Bank Board shall adopt the Plan pursuant to which Executive may be entitled to incentive compensation provided that the performance goals of the Bank as set forth in the Plan are achieved and the terms and conditions of the Plan are satisfied. In addition, Executive shall be entitled to other incentive compensation and bonuses as the Bank Board may determine in its sole discretion. Notwithstanding the foregoing, Executive shall not participate in the Bank’s Team Share Plan.