Service Retention Program Agreement 2009
Exhibit
10.14
Service
Retention Program
Agreement
2009
Employee
Name:
The above
named employee was awarded a cash retention bonus of $
on,
2009.
Guideline
Notes
The cash
bonus award will become vested in accordance with the following vesting
schedule:
25% on
May 1, 2009
25% on
May 1, 2010
25% on
May 1, 2011
25% on
May 1, 2012
The bonus
will be paid in the year in which the bonus, or a portion thereof, becomes
vested. In the event an employee terminates employment for any reason
other than Death, Disability or Retirement prior to vesting, the bonus will be
forfeited. In the event of a termination due to Death, Disability or
Retirement, the non-vested portion of the bonus will become vested as of the
date of termination. In the event of a Change in Control, the
non-vested portion of the bonus will become vested. The terms
“Disability,” “Retirement” and “Change in Control” will have the same definition
used in the CFS Bancorp, Inc. 2008 Omnibus Equity Incentive Plan.
This
document is not a contract or commitment for employment.
Authorized
By: _____________________________________
Recipient’s
Signature: _____________________________________
Signature
Witnessed
by:
_____________________________________