Annual Incentive Bonus Eliminated. The Executive will not be entitled to any amounts for his annual incentive bonus for 2018, as described under Paragraph 5 of the Employment Agreement.

Annual Incentive Bonus. Effective upon # a Change in Control that occurs during the Executive’s employment or # a Change in Control Termination under Section 1(e)(iii):

Annual Incentive Bonus. Effective upon # a Change in Control that occurs during the Executive’s employment or # a Change in Control Termination under Section 1(e)(iii):

Annual Incentive Bonus. In addition to the Base Salary, during the Term, the Company shall pay to Executive a discretionary annual incentive bonus (“Bonus”), depending upon Executive’s performance and the Company’s profitability. The Bonus shall be based on achievement of performance criteria in an incentive plan approved annually by the Company’s Compensation Committee. The amount of the Bonus will range as a percentage of Base Salary equal to a minimum of 20%, a target of 40% and a maximum of 60% of Base Salary. The Bonus shall be paid in a single sum between January 1 and March 15 of the calendar year following the calendar year in which earned or, if later, 30 days following the date on which the Bonus is no longer subject to a substantial risk of forfeiture. There is no guaranteed Bonus under this Agreement for any calendar year, and for each such calendar year, the Bonus could be as low as zero or as high as the maximum payout percentage established for that calendar year’s Bonus.

Annual Incentive Bonus. The Compensation Committee of the Board shall provide an incentive bonus program for the Executive for each calendar year during the term of this agreement. The Executive and the Companies understand and acknowledge that, among other things, such incentive bonus program will involve achievement by the Companies of various financial objectives, which may include but are not limited to revenues and earnings, and also may include achievement by the Companies or the Executive of various mutually agreed-upon non-financial objectives. Such incentive bonus program for each calendar year beginning after December 31, 2018, shall provide the opportunity for the Executive to earn an incentive bonus of not less than seventy five percent (75%) of his Base Salary for such calendar year if the agreed upon objectives are fully achieved. The Board from time to time also may establish incentive compensation programs for the Executive covering periods of more than one (1) year, and any such programs shall be in addition to the annual incentive bonus program required by this Paragraph 5.

Annual Incentive Bonus. In addition, you will be eligible to be considered for an incentive bonus for each fiscal year of the Company. The bonus (if any) will be awarded based on objective or subjective criteria established by the Company’s Chief Executive Officer and approved by the Company’s Board of Directors or an authorized committee thereof. The target amount of your annual incentive bonus shall be equal to 60% of your Annual Base Salary and you may be able to earn up to two-times such targeted amount; for clarity, any bonus for the fiscal year in which your employment begins will be prorated, based on the number of days you are employed by the Company during that fiscal year. To the extent the Company determines that you earned an annual bonus for a fiscal year, such bonus shall be subject to the usual, required withholdings and deductions. Your annual bonus target will be subject to review and adjustments will be made to it based upon the Company’s normal performance review practices. Any bonus for a fiscal year will be paid within two and one-half months after the end of that fiscal year, but only if you are employed by the Company on the last day of the fiscal year to which the bonus relates.

Incentive Bonus. As an incentive to Employee for his continuing services and contributions to the growth and profitability of Bank, Employee shall be paid, in addition to his Adjusted Base Compensation, an Incentive Bonus as follows:

Incentive Bonus. Executive shall be eligible for a yearly incentive bonus (“Incentive Bonus”) equal to 10% of the net income of the Company and its current and existing and subsequently acquired or organized subsidiaries (“Subsidiaries”), determined annually on a consolidated basis by the Company’s independent accounting firm, beginning with the Company’s fiscal year ending December 31, 2022 and each fiscal year thereafter during the term of this Agreement. The determination of the net profits made by the independent accounting firm employed by the Company shall be final and binding upon Executive and the Company. The Incentive Bonus payment shall be made within thirty (30) days after the Company’s independent accounting firm has concluded its audit. If the final audit is not prepared within ninety (90) days after the end of the fiscal year, then the Company shall make a preliminary payment equal to fifty percent (50%) of the amount due based upon the net profits preliminarily determined by the independent accounting firm, subject to payment of the balance, if any, promptly following completion of the audit by Company’s independent accounting firm.

Annual Incentive Bonus. In addition to the Base Salary, during the Term, the Company shall pay to Executive a discretionary annual incentive bonus (“Bonus”), depending upon Executive’s performance and the Company’s profitability. The Bonus shall be based on achievement of performance criteria in an incentive plan approved annually by the Company’s Compensation Committee. The amount of the Bonus will range as a percentage of Base Salary equal to a minimum of twenty percent (20%), a target of forty percent (40%) and a maximum of sixty percent (60%) of Base Salary. The annual Bonus shall be paid in a single sum no later than March 15 of the year following the calendar year in which earned or, if later, thirty (30) days following the date on which the Bonus is no longer subject to a substantial risk of forfeiture.

Incentive Bonus. As an incentive to Executive Vice President for her continuing services and contributions to the growth and profitability of Bank, Executive Vice President shall be paid, in addition to her Adjusted Base Compensation, an Incentive Bonus as follows: