Common use of Equity Plans or Programs Clause in Contracts

Equity Plans or Programs. Employee may, during the term of this Agreement, be eligible to participate in stock option, phantom stock, restricted stock or other similar equity-incentive plans or programs which the Bank may establish from time to time. The Board at its sole discretion shall establish the terms of any such plans or programs, and Employee's eligibility to participate in them. Employee will present a proposal to the Board for its consideration regarding the potential of annual eligibility of not less than 10,000 shares of Baylake Corp stock. Bank is also willing to give consideration to a Rabbi Trust, SERP, or etc., the amount varying dependent on the size of the program established, to cover part or all of Employee's compensation that does not qualify for Bank's 401k plan. Bank will give due consideration to the compensation study from State Financial Services Corporation, which is in Employee's possession, if and when establishing any proposed plan and other long-term compensation benefits.

Equity Plans or Programs. Employee may, during the term of this Agreement, be eligible to participate in stock option, phantom stock, restricted stock or other similar equity-incentive plans or programs which the Bank may establish from time to time. The Board at its sole discretion shall establish the terms of any such plans or programs, and Employee's ’s eligibility to participate in them. Employee will present a proposal to the Board for its consideration regarding the potential of annual eligibility of not less than 10,000 shares of Baylake Corp stock. Bank is also willing to give consideration to a Rabbi Trust, SERP, or etc., the amount varying dependent on the size of the program established, to cover part or all of Employee's ’s compensation that does not qualify for Bank's ’s 401k plan. Bank will give due consideration to the compensation study from State Financial Services Corporation, which is in Employee's ’s possession, if and when establishing any proposed plan and other long-term compensation benefits.