Non-Equity Incentive Compensation. It is understood that any Non-Equity Incentive Compensation to be awarded to the Executive may be based on the attainment by the Employer of certain performance goals established by the Board of Directors in consultation with the Executive relating to factors, including but not limited to, asset quality, profitability and growth. Notwithstanding anything contained in this Agreement to the contrary, any increase to the Executive's Base Salary and any Non-Equity Incentive Compensation paid to the Executive shall be (i) in compliance with regulations, pronouncements, directives, or order issued or promulgated by any governing regulatory agency and with any agreement by and between the Employer and such regulatory agencies, (ii) consistent with the safe and sound operation of the Employer, (iii) closely monitored by the Board of Directors, and (iv) comparable to such compensation paid to persons of similar responsibilities and duties in other insured institutions of similar size, in similar locations, and under similar circumstances including financial condition and profitability.
Non-Equity Incentive Compensation. For the fiscal years ending June 30, 2015 and June 30, 2016, Employee shall receive a bonus in the maximum aggregate amount of 40% of the Base Salary set forth in Paragraph 3.1 only if she achieves the goals and milestones set forth in the CEO Bonus Plan implemented for the applicable fiscal year, as such goals have been determined by, and as achievement against such goals will be evaluated by, the Personnel and Compensation Committee of the Board of Directors. Future Non-Equity Incentive Compensation will be determined by the Personnel and Compensation Committee or the Board of Directors in their discretion. If a bonus is earned in accordance with this Paragraph 3.2, it will be paid to Employee by the Corporation regardless of whether she is employed by the Corporation on the date payable.
Non-Equity Incentive Compensation. In addition to the Base Salary, the Executive shall be eligible to receive an annual non-equity incentive compensation award (the “Non-Equity Incentive Compensation Award”) for each fiscal year of the Company that ends during the Employment Term, under the non-equity incentive compensation plan in effect for executive officers of the Company (the “Plan”), subject to the approval of the Company’s shareholders as required for purposes of exemption from the limitations on deductibility imposed by Section 162(m) of the Internal Revenue Code of 1986, as amended (the “Code”), and based upon the achievement of objective performance goals meeting the requirements for such exemption. The Executive’s target Non-Equity Incentive Compensation Award under the Plan for each fiscal year during the Employment Term shall be such amount as shall be determined by the Board in accordance with the Plan, but shall be at least one hundred twenty five percent (125%) of the Executive’s Base Salary for the year involved, provided that the Company achieves the targeted level of performance under the Plan for the relevant fiscal year. The targeted level of performance required to earn the targeted Non-Equity Incentive Compensation Award amount shall be as agreed by the Compensation Committee or the Executive Committee of the Board, on the one hand, and the Executive, on the other hand.
Non-Equity Incentive Compensation. For the fiscal year ending June 30, 2013, Employee shall receive a bonus in the maximum aggregate amount of 20% of the base salary set forth in Paragraph 3.1 only if he achieves the goals and milestones set forth in the Fiscal 2013 CFO Bonus Plan, as such goals have been determined by, and as achievement against such goals will be evaluated by, the Personnel and Compensation Committee of the Board of Directors. Future Non-Equity Incentive Compensation will be determined by the Personnel and Compensation Committee or the Board of Directors in their discretion.
