STATE NATIONAL COMPANIES, INC. 2015 CASH INCENTIVE PLAN AWARD AGREEMENTCash Incentive Award Agreement • May 21st, 2015 • State National Companies, Inc. • Fire, marine & casualty insurance
The Committee hereby grants to the individual named above (the “Recipient”) a performance-based cash bonus in the Maximum Amount specified above, provided all of the Performance Goals set forth in Exhibit A hereto are achieved for the Performance Period specified above. For each Performance Goal achieved, the Company will pay the Recipient the amount set forth on Exhibit A hereto corresponding to the respective measure. If Exhibit A includes Threshold, Target and Outstanding levels of performance, the Maximum Amount will be paid only if all of the levels of performance are at Outstanding or higher.
