The maximum Award to be received by any Participant shall not exceed 200% of the Target Award (as defined below), inclusive of CEO Awards (as defined below).

Annual Bonuses. During the Term of Employment, Executive shall participate in the Company’s annual Management Incentive Plan or any successor plan (the “MIP”), on terms and conditions that are appropriate to Executive’s positions and responsibilities at the Company and are no less favorable than those applying to other senior executive officers of the Company. Executive’s target annual bonus under the MIP in respect of each Fiscal Year shall be ​ of Base Salary and Executive’s maximum annual bonus shall be ​ of Base Salary. The Board shall review, and may adjust in its sole discretion, such bonus targets each year when it sets target bonuses for the MIP. Any annual bonus paid to Executive shall be in addition to the Base Salary and to any and all other benefits to which Executive is entitled as provided in this Agreement. Except as in accordance with any deferral election made by Executive pursuant to any deferred compensation plan maintained by the Company, payment of annual bonuses shall be made at the same time that other senior executive officers of the Company receive their annual bonuses.

Annual Bonuses. For each completed fiscal year of the Bank (“Fiscal Year”) during the Term, the Executive shall have the opportunity to earn an annual bonus pursuant to the terms and conditions of any incentive compensation program implemented by the [[Bank:Organization]] Entities. The terms and conditions of the Bank or Bancorp incentive compensation program may be revised from time to time, based on achievement of annual performance goals established by the Bank Board or Bancorp Board, or a committee of the Bank Board or Bancorp Board (an “Annual Bonus”) with a target amount determined annually based on review of market data for similarly situated executives.

Annual Bonuses. In addition to the Base Salary, the Executive shall be eligible to receive during the Employment Period annual cash bonuses under the Company’s 2018 Cash Bonus Plan and/or any other cash incentive plan maintained by the Company (such plan, the “Bonus Plan”), as determined by the Compensation Committee in its sole discretion within the parameters of the Bonus Plan.

For each fiscal year ending during his or her employment, Executive will be eligible to earn an annual bonus. The target amount of that bonus is currently 40% of Executive’s Base Salary for the applicable fiscal year and will be pro-rated for the fiscal year already in progress at the time of Executive’s commencement of employment. The target amount will be reviewed annually by the CEO. The actual bonus payable with respect to a particular year will be determined by the CEO, based on the achievement of corporate performance objectives and individual performance, as determined by the CEO.

Annual Bonuses. In addition to the Base Salary, during the Term of Employment, and subject to subsection # below, in each calendar year of the Term of Employment, Executive shall be eligible to receive an annual bonus (the “Annual Bonus”) payable in cash, pursuant to the criteria and goals established and administered by the Board or a committee thereof to whom such responsibility has been delegated by the Board (the “Committee”), with a target Annual Bonus opportunity of not less than 50% of Executive’s Base Salary (the “Target Annual Bonus”); provided, that Executive’s Annual Bonus for 2020 will be not less than the full Target Annual Bonus. The Annual Bonus payable to Executive shall be determined and payable as soon as practicable after year-end for such year (but no later than March 15th). To be entitled to receive any Annual Bonus, except as otherwise provided in Section 4(c), Executive must remain employed through the day upon which the Annual Bonus is paid.

Annual Bonuses. The Executive shall be eligible to receive performance-based annual incentive bonuses (each, the “Incentive Bonus”) from the Employer for each fiscal year ending during the Term. Any Incentive Bonus shall be paid not later than two and one-half months following the close of the year in which it is earned, provided that any Incentive Bonus shall not be considered earned until the Board has made all determinations and taken all actions necessary to establish such Incentive Bonus.

Bonuses. Employee shall receive only such bonuses as the Board of Directors, in its discretion, decides to pay to Employee. The Corporation shall withhold from such bonus payments amounts for state and federal income taxes, social security taxes, and such other payroll deductions as may from time to time be required by law

Annual Bonuses and Commissions. An Eligible Employee may elect to defer a percentage or dollar amount of his or her annual bonus or commissioned earnings, to the extent payable to the Eligible Employee in cash; provided, however, the Plan Administrator may limit the available form of election for any Plan Year to only a percentage of annual bonus or commissioned earnings, or to only a specified dollar amount of annual bonus or commissioned earnings, and the Plan Administrator may provide for a different limit on the available form of election for individuals for their first year of eligibility. Subject to any limitations imposed by the Plan Administrator, an Eligible Employee who desires to elect a deferral described in this Section 4.1(b) shall complete and submit to the Plan Administrator a deferral election which shall designate # the percentage of each payment to be deferred in one percent (1%) increments to a maximum of eighty percent (80%) or # the whole dollar amount of each payment to be deferred. Elections pursuant to this Section 4.1(b) to defer an annual bonus or commissioned earnings earned in a Plan Year must be made prior to the first day of such Plan Year; provided that # an election to defer an annual bonus that is considered performance-based compensation within the meaning of Section 409A of the Code may be made as of a date specified by the Plan Administrator that is at least six months prior to the last day of the applicable performance period and # to the extent the election period described in clause (i) is not available, an individual who first becomes an Eligible Employee following the commencement of a Plan Year and who is in his or her “first year of eligibility,” as defined under Section 409A of the Code, may submit an irrevocable deferral election within 30 days after the date such individual becomes an Eligible Employee, and such election shall be effective with respect to the portion of the annual bonus or commissioned earnings earned after the date of such election. If an Eligible Employee elects to defer a dollar amount of each payment of annual bonus or commissioned earnings under this Section 4.1(b) for a Plan Year and such dollar amount would exceed eighty percent (80%) of the amount of a payment of annual bonus or commissioned earnings to such Eligible Employee, then the dollar amount to be deferred from that payment of annual bonus or commissioned earnings shall automatically be reduced to an amount equal to eighty percent (80%) of the amount of such payment, applied on a payment-by-payment basis. An election to defer a percentage or dollar amount of an annual bonus or commissioned earnings for any Plan Year shall apply for subsequent Plan Years (an “Evergreen Annual Bonus or Commission Election”) unless changed or revoked by the Participant by submitting a new election with the Plan Administrator on or before the date on which elections are due with respect to such Plan Year; provided, however:

Annual Bonuses. With respect to each Company fiscal year that ends during the Term, commencing with fiscal year 2022, the Executive shall be eligible to receive an annual performance-based cash bonus (the “Annual Bonus”) which shall be payable based upon the attainment of individual and Company performance goals established by the Board in consultation with the Executive. The terms of the Annual Bonus with respect to each fiscal year shall provide that if the Company and/or Executive attains target performance levels for an applicable fiscal year, the Executive’s Annual Bonus shall be payable in an amount equal to 60% of Annual Base Salary (the “Target Bonus”), and may, at the discretion of the Board, provide for a higher amount if performance targets are exceeded. Each such Annual Bonus shall be payable on, or at such date as is determined by the Board within 90 days following the last day of the fiscal year with respect to which it relates. Except as provided in Section 5, notwithstanding any other provision of this Section 3(b), no bonus shall be payable with respect to any fiscal year unless the Executive remains continuously employed with the Company during the period beginning on the Effective Date and ending on the date of payment of such bonus (for each Annual Bonus, the “Bonus Payment Date”). For the avoidance of doubt, the Annual Bonus for fiscal year 2022 shall not be pro-rated.