Common use of Short-Term and Long-Term Incentive Compensation Clause in Contracts

Short-Term and Long-Term Incentive Compensation. During the term of this Agreement, the Employee shall participate in (a) the short-term incentive (annual bonus) plan generally applicable to the Bank’s or Corporation’s senior management employees, with a target annual bonus of not less than 35% of base salary, and (b) the long-term incentive equity plan generally applicable to the Bank’s or Corporation’s senior management employees with a target annual grant value of not less than 40% of base salary. The Employee shall further participate in an equitable manner with all other senior management employees of the Company in any discretionary bonuses that the Company may award from time to time to senior management employees. No other compensation provided for in this Agreement shall be deemed a substitute for the Employee’s right to participate in such discretionary bonuses.

Short-Term and Long-Term Incentive Compensation. During the term of this Agreement, the Employee shall participate in (a) the short-term incentive (annual bonus) plan generally applicable to the Bank’s or Corporation’s senior management employees, with a target annual bonus of not less than 3546.4% of base salary, and (b) the long-term incentive equity plan generally applicable to the Bank’s or Corporation’s senior management employees with a target annual grant value of not less than 4060% of base salary. The Employee shall further participate in an equitable manner with all other senior management employees of the Company in any discretionary bonuses that the Company may award from time to time to senior management employees. No other compensation provided for in this Agreement shall be deemed a substitute for the Employee’s right to participate in such discretionary bonuses.