Annual Incentive Bonus Program. For calendar year 2014, Executive shall continue to participate in the Bank’s annual incentive plan as in effect on the date of this Agreement. Starting in calendar year 2015, Executive will participate in the annual incentive bonus program approved by the Compensation Committee of the Board of Directors of FBIZ with performance metrics tailored to the Bank. Executive’s threshold bonus will be 10% of Annual Base Salary, target bonus will be 30% of Annual Base Salary and maximum bonus will be 60% of Annual Base Salary. For the 2015 calendar year, Executive is guaranteed a minimum bonus equal in amount to the threshold bonus, but if her performance exceeds that level, she will receive the larger amount earned.
Annual Incentive Bonus Program. The Consultant shall be eligible to receive an annual incentive bonus (each an “Annual Incentive Bonus”) for each completed calendar year during the Term in accordance with a bonus policy adopted by the Company’s Board of Directors (the “Board”) (or an authorized committee thereof). The bonus policy will provide that the Consultant shall be entitled to earn an Annual Incentive Bonus for such calendar year based on performance criteria determined in the sole discretion of the Board, with the amount of any such Annual Incentive Bonus pro-rated for calendar year 2017 based on the period from the Effective Date through December 31, 2017. The Annual Incentive Bonus for a calendar year shall be paid as soon as practicable following the end of the calendar year, but in no event later than March 15th of the year following the year to which the Annual Incentive Bonus relates. Other than as set forth in Section 10, the Consultant must be engaged as a consultant hereunder by the Company or an affiliate of the Company on the date an Annual Incentive Bonus is to be paid to be eligible to receive the Annual Incentive Bonus for such calendar year. Payment of the Annual Incentive Bonus may be made in the form of cash, Awards (as defined under and issued pursuant to the EIP), or a combination thereof, as determined in the sole discretion of the Board (or an authorized committee thereof). For purposes of this Agreement, “EIP” shall mean the equity incentive plan, as may be adopted by the Board, as may be modified and amended by the Company from time to time.
Annual Incentive Bonus Program. The Executive agrees that his annual bonus program for 2021 shall be modified as follows: (a) he shall not be entitled to any minimum bonus amount and (b) the weighting of the two components of the Executive’s annual bonus program shall be 12.5% for the EBITDA metric and 37.5% for the discretionary component. The Executive acknowledges and agrees that the discretionary component of his annual bonus will be tied to comprehensive goals for members of senior management, including without limitation “SMART” objectives. The Executive further acknowledges and agrees that the modifications described herein will not constitute “Good Reason” as defined in the Employment Agreement. 3.
