Incentive and Retention Programs. Employee shall be eligible for an annual discretionary incentive bonus. The amount of the bonus for a given year shall be determined by Employer’s Board of Directors annually by January 31st of each following year and shall be paid no later than February 28th of each following year, provided Employee is still employed by Employer on the payment date. Employee shall be entitled to participate in the “Farmers & Merchants Bank of Central California Executive Retirement Plan – Salary Component”, “Farmers & Merchants Bank of Central California Split Dollar Agreement”, “Farmers & Merchants Bank of Central California Executive Retirement Plan – Equity Component”, and “Farmers & Merchants Bank of Central California Executive Retirement Plan – Performance Component”, the terms and conditions of which are set forth in separate agreements so titled.
Incentive and Retention Programs. Employee shall be eligible for an annual discretionary incentive bonus. The amount of any incentive bonus shall be determined from time to time by the Bank’s Board of Directors annually by January 31st of each following year and shall be paid no later than February 28th of each following year. Any incentive bonus is intended for retention purposes, and as a consequence, it will only be paid provided Employee is still employed by Employer on the payment date. Employee shall be entitled to participate in (i) the “Farmers & Merchants Bank of Central California Executive Retirement Plan – Equity Component,” which is a totally discretionary contribution as determined by the Board of Directors; and (ii) the “Farmers & Merchants Bank of Central California Executive Retirement Plan – Performance Component,”; the terms and conditions of which are set forth in separate agreements so titled.
Incentive and Retention Programs. Employee shall be eligible for an annual discretionary incentive bonus. The amount of the bonus for a given year shall be determined by the Bank’s Board of Directors annually by March 31st of each following year and shall be paid no later than April 15th of each following year, provided Employee is still employed by the Bank on the payment date. Employee shall be entitled to participate in the “Farmers & Merchants Bank of Central California Executive Retirement Plan – Equity Component”, “Farmers & Merchants Bank of Central California Executive Retirement Plan – Performance Component” and the “Farmers & Merchants Bank Deferred Compensation Plan”, the terms and conditions of which are set forth in separate agreements so titled.
Incentive and Retention Programs. Employee shall be eligible for an annual discretionary incentive bonus beginning in 2023. The amount of any incentive bonus shall be determined from time to time by the Bank’s Board of Directors annually by January 31st of each following year and shall be paid no later than February 28th of each following year. Any incentive bonus is intended for retention purposes, and as a consequence, it will only be paid provided Employee is still employed by Employer on the payment date. Employee has the bonus potential of $250,000 per year. Beginning in 2nd quarter of 2023, Employee shall be entitled to participate in (i) the “Farmers & Merchants Bank of Central California Executive Retirement Plan – Equity Component,” with a quarterly target of $50,000 to $70,000, which is a totally discretionary contribution as determined by the Board of Directors.
Incentive and Retention Programs. Employee shall be eligible for an annual discretionary incentive bonus. The amount of the bonus for a given year shall be determined by the Bank’s Board of Directors annually by March 31st of each following year and shall be paid no later than April 15th of each following year, provided Employee is still employed by the Bank on the payment date. For the year 2017, said bonus shall be approximately $200,000 and is contingent upon the Employee’s satisfactory job performance. Employee shall be entitled to participate in the “Farmers & Merchants Bank of Central California Executive Retirement Plan – Equity Component”, and the “Farmers & Merchants Bank of Central California Executive Retirement Plan – Performance Component”, the terms and conditions of which are set forth in separate agreements so titled.
Incentive and Retention Programs. Employee shall be eligible for an annual discretionary incentive bonus beginning in 2023. The amount of any incentive bonus shall be determined from time to time by the Bank’s Board of Directors annually by January 31st of each following year and shall be paid no later than February 28th of each following year. Any incentive bonus is intended for retention purposes, and as a consequence, it will only be paid provided Employee is still employed by Employer on the payment date. Employee has the bonus potential of $400,000 to $600,000 per year. Beginning in 2nd quarter of 2023, Employee shall be entitled to participate in (i) the “Farmers & Merchants Bank of Central California Executive Retirement Plan – Equity Component,” with a quarterly target of $70,000 to $110,000, which is a totally discretionary contribution as determined by the Board of Directors; and (ii) the “Farmers & Merchants Bank of Central California Executive Retirement Plan – Performance Component,” with an initial “Bonus Factor” of .50%; the terms and conditions of which are set forth in separate agreements so titled.
Incentive and Retention Programs. Employee shall be eligible for an annual discretionary incentive bonus. The amount of the bonus for a given year shall be determined by Employer’s Board of Directors annually by January 31st of each following year and shall be paid no later than February 28th of each following year, provided Employee is still employed by Employer on the payment date. Employee shall be entitled to participate in the “Farmers & Merchants Bank of Central California Executive Retirement Plan – Equity Component”, and “Farmers & Merchants Bank of Central California Executive Retirement Plan – Performance Component”, the terms and conditions of which are set forth in separate agreements so titled.
Incentive and Retention Programs. Employee shall be eligible for an annual discretionary incentive bonus. The amount of any incentive bonus shall be determined from time to time by the Bank’s Board of Directors annually by January 31st of each following year and shall be paid no later than February 28th of each following year. Any incentive bonus is intended for retention purposes, and as a consequence, it will only be paid provided Employee is still employed by Employer on the payment date. This annual discretionary incentive bonus shall be pro-rated in the first year. Employee shall be entitled beginning in the 3rd quarter of 2024 to participate in the “Farmers & Merchants Bank of Central California Executive Retirement Plan – Equity Component,” which is a totally discretionary contribution as determined by the Board of Directors, the terms and conditions of which are set forth in separate agreement so titled.
