SCOTT A. KISTING - EMPLOYMENT AGREEMENT SUMMARY ------------------------------ ------------------------------------------------------------------------------- ------ SUBJECT PROVISION ------------------------------ -----------------------...Employment Agreement • November 10th, 1999 • Golden State Holdings Inc • Savings institution, federally chartered
------------------------------ ------------------------------------------------------------------------------------- SUBJECT PROVISION ------------------------------ ------------------------------------------------------------------------------------- Term 8/1/99 through 7/31/02; automatic one year renewals (subject to 45 days notice). ------------------------------ ------------------------------------------------------------------------------------- Base Salary $800,000 ------------------------------ ------------------------------------------------------------------------------------- Executive Compensation Participation in Executive Compensation Plan, subject to the following: Annual bonus - target at 50% of base salary. Stock options - 100,000 GSB shares to be granted by 1/31/2000, 3 year vesting. (Note: 100,000 options have previously been granted in 1999.) Restricted stock - 43,500 restricted GSB shares to be issued upon approval of restricted stock plan agreement, one half vestin
