Common use of Profit Sharing Plan Clause in Contracts

Profit Sharing Plan. Under the Northrim BanCorp, Inc. Profit Sharing Plan (the “Plan”), Executive shall be eligible to receive an annual profit share based on performance as defined by the Board of Directors. Executive will be classified in the CEO tier under the Plan’s Responsibility Factors. Employer will recover from the Executive any incentive compensation required to be recovered by the Employer under the terms of the Clawback Policy (as defined in Section 12.i). Executive’s signature on this Agreement authorizes Employer to offset or deduct from any compensation Employer may owe Executive, any excess payments (in whole or in part) that Executive may owe Employer under the terms of the Clawback Policy (as defined in Section 12.i).

Profit Sharing Plan. Under the Northrim BanCorp, Inc. Profit Sharing Plan (the “Plan”), Executive shall be eligible to receive an annual profit share based on performance as defined by the Board of Directors. Executive will be classified in the CEO EVP tier under the Plan’s Responsibility Factors. Employer will recover from the Executive any incentive compensation required to be recovered by the Employer under the terms of the Clawback Policy (as defined in Section 12.i). Executive’s signature on this Agreement authorizes Employer to offset or deduct from any compensation Employer may owe Executive, any excess payments (in whole or in part) that Executive may owe Employer under the terms of the Clawback Policy (as defined in Section 12.i).

Profit Sharing Plan. Under the Northrim BanCorp, Inc. Profit Sharing Plan (the “Plan”), Executive shall be eligible to receive an annual profit share based on performance as defined by the Board of Directors. Executive will be classified in the President/CEO tier under the Plan’s Responsibility Factors. Employer will recover from the Executive any incentive compensation required to be recovered by the Employer under the terms of the Clawback Policy (as defined in Section 12.i). Executive’s signature on this Agreement authorizes Employer to offset or deduct from any compensation Employer may owe Executive, any excess payments (in whole or in part) that Executive may owe Employer under the terms of the Clawback Policy (as defined in Section 12.i).

Profit Sharing Plan. Under the Northrim BanCorp, Inc. Profit Sharing Plan (the “Plan”), Executive shall be eligible to receive an annual profit share based on performance as defined by the Board of Directors. Executive will be classified in the CEO President tier under the Plan’s Responsibility Factors. Employer will recover from the Executive any incentive compensation required to be recovered by the Employer under the terms of the Clawback Policy (as defined in Section 12.i). Executive’s signature on this Agreement authorizes Employer to offset or deduct from any compensation Employer may owe Executive, any excess payments (in whole or in part) that Executive may owe Employer under the terms of the Clawback Policy (as defined in Section 12.i).

Profit Sharing Plan. Under the Northrim BanCorp, Inc. Profit Sharing Plan (the “Plan”), Executive shall be eligible to receive an annual profit share based on performance as defined by the Board of Directors. Executive will be classified in the CEO COO tier under the Plan’s Responsibility Factors. Employer will recover from the Executive any incentive compensation required to be recovered by the Employer under the terms of the Clawback Policy (as defined in Section 12.i). Executive’s signature on this Agreement authorizes Employer to offset or deduct from any compensation Employer may owe Executive, any excess payments (in whole or in part) that Executive may owe Employer under the terms of the Clawback Policy (as defined in Section 12.i).