Enterprise Bancorp 8K/A Departure of Directors or Principal Officers | EBTC 7 Aug 08

Exhibit 10.48.2

2007 INCENTIVE COMPENSATION PLAN CALCULATION

Key Performance Categories - Growth Group	Projected Level	Weightings
Bankwide Net Income	0	50	%
YTD Average Commercial Loan Growth	0	20	%
YTD Average Low Cost Deposit Growth	0	25	%
IAG New Business (Net Fees)	0	5	%

Personal Bonus Factor		Level
Personal 2007 Bonus Goal		35.00	%

Calculations

Bankwide Net Income For Year Ended 2007		Bankwide Net Income Growth Level		% Bonus Change From Budget		Bankwide Net Income Bonus		Total Bonus Pool		Bonus Pool For NI Growth		Change From Budgeted Bonus Pool			After Tax Change In NI			Pre Tax Change in NI	Bonus Pool Growth/Pre Tax Change In Income		% change from target budget
$	9,787,757	-6		-100.00	%	0.00	%	$	—	$	0	$	-625,000		$	-551,765		-951,319.00	65.70	%	-5.34	%
$	9,880,094	-5		-50.00	%	8.75	%	$	625,000	$	312,500	$	-312,500		$	-459,428		-792,116.71	39.45	%	-4.44	%
$	9,972,432	-4		-40.00	%	10.50	%	$	750,000	$	375,000	$	-250,000		$	-367,090		-632,914.41	39.50	%	-3.55	%
$	10,064,769	-3		-30.00	%	12.25	%	$	875,000	$	437,500	$	-187,500		$	-274,753		-473,712.12	39.58	%	-2.66	%
$	10,157,106	-2		-20.00	%	14.00	%	$	1,000,000	$	500,000	$	-125,000		$	-182,416		-314,509.83	39.74	%	-1.76	%
$	10,249,444	-1		-10.00	%	15.75	%	$	1,125,000	$	562,500	$	-62,500		$	-90,078		-155,307.53	40.24	%	-0.87	%
$	10,339,522	0		0.00	%	17.50	%	$	1,250,000	$	625,000	$		0	$		0	0.00	0.00	%
$	10,434,118	1		4.17	%	18.23	%	$	1,302,083	$	651,042	$		26,042	$		94,596	163,097.05	15.97	%	0.91	%
$	10,526,456	2		8.33	%	18.96	%	$	1,354,167	$	677,083	$		52,083	$		186,934	322,299.34	16.16	%	1.81	%
$	10,618,793	3		12.50	%	19.69	%	$	1,406,250	$	703,125	$		78,125	$		279,271	481,501.64	16.23	%	2.70	%
$	10,711,130	4		16.67	%	20.42	%	$	1,458,333	$	729,167	$		104,167	$		371,608	640,703.93	16.26	%	3.59	%
$	10,803,468	5		20.83	%	21.15	%	$	1,510,417	$	755,208	$		130,208	$		463,946	799,906.22	16.28	%	4.49	%
$	10,895,805	6		25.00	%	21.88	%	$	1,562,500	$	781,250	$		156,250	$		556,283	959,108.52	16.29	%	5.38	%
$	10,988,142	7		29.17	%	22.60	%	$	1,614,583	$	807,292	$		182,292	$		648,620	1,118,310.81	16.30	%	6.27	%
$	11,080,480	8		33.33	%	23.33	%	$	1,666,667	$	833,333	$		208,333	$		740,958	1,277,513.10	16.31	%	7.17	%
$	11,172,817	9		37.50	%	24.06	%	$	1,718,750	$	859,375	$		234,375	$		833,295	1,436,715.40	16.31	%	8.06	%
$	11,265,154	10		41.67	%	24.79	%	$	1,770,833	$	885,417	$		260,417	$		925,632	1,595,917.69	16.32	%	8.95	%
$	11,357,492	11		45.83	%	25.52	%	$	1,822,917	$	911,458	$		286,458	$		1,017,970	1,755,119.98	16.32	%	9.85	%
$	11,449,829	12		50.00	%	26.25	%	$	1,875,000	$	937,500	$		312,500	$		1,110,307	1,914,322.28	16.32	%	10.74	%

Projected Level		0
Net Income Bonus		17.50	%

Commercial Loan Balance Dec 31, 2007 YTD AVG (In Thousands)		Commercial Loan Level		% Bonus Change From Budget		Commercial Loan Bonus		Total Bonus Pool			Bonus For Comm Loan Growth		Dollar Change From Budgeted Bonus Pool		After Tax Change In NI Due To Comm Loan Growth		Pre Tax Change in NI Due To Comm Loan Growth		Bonus Pool Growth/Pre Tax Change In Income		% change from target budget
$	683,303,918	-7		-100.00	%	0.00	%	$	(0	)	$	0	$	-250,000	$	-190,718	$	-328,824	76.03	%	-2.22	%
$	685,519,716	-6		-85.71	%	1.00	%	$	178,571		$	35,714	$	-214,286	$	-163,473	$	-281,850	76.03	%	-1.90	%
$	687,735,514	-5		-71.43	%	2.00	%	$	357,143		$	71,429	$	-178,571	$	-136,227	$	-234,875	76.03	%	-1.59	%
$	689,951,313	-4		-57.14	%	3.00	%	$	535,714		$	107,143	$	-142,857	$	-108,982	$	-187,900	76.03	%	-1.27	%
$	692,167,111	-3		-42.86	%	4.00	%	$	714,286		$	142,857	$	-107,143	$	-81,736	$	-140,925	76.03	%	-0.95	%
$	694,382,909	-2		-28.57	%	5.00	%	$	892,857		$	178,571	$	-71,429	$	-54,491	$	-93,950	76.03	%	-0.63	%
$	696,598,708	-1		-14.29	%	6.00	%	$	1,071,429		$	214,286	$	-35,714	$	-27,245	$	-46,975	76.03	%	-0.32	%
$	698,814,506	0		0.00	%	7.00	%	$	1,250,000		$	250,000	$	0	$	0	$	0	0.00	%
$	701,891,809	1		4.17	%	7.29	%	$	1,302,083		$	260,417	$	10,417	$	37,839	$	65,239	15.97	%	0.44	%
$	704,895,626	2		8.33	%	7.58	%	$	1,354,167		$	270,833	$	20,833	$	74,773	$	128,920	16.16	%	0.87	%
$	707,899,443	3		12.50	%	7.88	%	$	1,406,250		$	281,250	$	31,250	$	111,708	$	192,601	16.23	%	1.30	%
$	710,903,259	4		16.67	%	8.17	%	$	1,458,333		$	291,667	$	41,667	$	148,643	$	256,282	16.26	%	1.73	%
$	713,907,076	5		20.83	%	8.46	%	$	1,510,417		$	302,083	$	52,083	$	185,578	$	319,962	16.28	%	2.16	%
$	716,910,893	6		25.00	%	8.75	%	$	1,562,500		$	312,500	$	62,500	$	222,513	$	383,643	16.29	%	2.59	%
$	719,914,710	7		29.17	%	9.04	%	$	1,614,583		$	322,917	$	72,917	$	259,448	$	447,324	16.30	%	3.02	%
$	722,918,527	8		33.33	%	9.33	%	$	1,666,667		$	333,333	$	83,333	$	296,383	$	511,005	16.31	%	3.45	%
$	725,922,344	9		37.50	%	9.63	%	$	1,718,750		$	343,750	$	93,750	$	333,318	$	574,686	16.31	%	3.88	%
$	728,926,161	10		41.67	%	9.92	%	$	1,770,833		$	354,167	$	104,167	$	370,253	$	638,367	16.32	%	4.31	%
$	731,929,977	11		45.83	%	10.21	%	$	1,822,917		$	364,583	$	114,583	$	407,188	$	702,048	16.32	%	4.74	%
$	734,933,794	12		50.00	%	10.50	%	$	1,875,000		$	375,000	$	125,000	$	444,123	$	765,729	16.32	%	5.17	%

Projected Level		0
Commercial Loan Bonus		7.00	%

Low Cost Deposit Balance Dec 31, 2007 YTD AVG (In Thousands)		Low Cost Deposit Level		% Bonus Change From Budget		Low Cost Deposit Bonus		Total Bonus Pool			Bonus Pool For Low Cost Deposit Growth		Dollar Change From Budgeted Bonus Pool		After Tax Change In NI Due To Low cost Deposit Growth		Pre Tax Change in NI Due To Low Cost Deposit Growth		Bonus Pool Growth/Pre Tax Change In Income		% change from target budget
$	389,978,554	-29		-414.29	%	-27.50	%	$	(3,928,571	)	$	-982,143	$	-1,294,643	$	-1,240,065	$	-2,138,043	60.55	%	-10.41	%
$	391,540,537	-28		-400.00	%	-26.25	%	$	(3,750,000	)	$	-937,500	$	-1,250,000	$	-1,197,304	$	-2,064,318	60.55	%	-10.05	%
$	393,102,521	-27		-385.71	%	-25.00	%	$	(3,571,429	)	$	-892,857	$	-1,205,357	$	-1,154,543	$	-1,990,592	60.55	%	-9.69	%
$	394,664,505	-26		-371.43	%	-23.75	%	$	(3,392,857	)	$	-848,214	$	-1,160,714	$	-1,111,782	$	-1,916,866	60.55	%	-9.33	%
$	396,226,488	-25		-357.14	%	-22.50	%	$	(3,214,286	)	$	-803,571	$	-1,116,071	$	-1,069,022	$	-1,843,141	60.55	%	-8.97	%
$	397,788,472	-24		-342.86	%	-21.25	%	$	(3,035,714	)	$	-758,929	$	-1,071,429	$	-1,026,261	$	-1,769,415	60.55	%	-8.61	%
$	399,350,456	-23		-328.57	%	-20.00	%	$	(2,857,143	)	$	-714,286	$	-1,026,786	$	-983,500	$	-1,695,689	60.55	%	-8.25	%
$	400,912,439	-22		-314.29	%	-18.75	%	$	(2,678,571	)	$	-669,643	$	-982,143	$	-940,739	$	-1,621,964	60.55	%	-7.89	%
$	402,474,423	-21		-300.00	%	-17.50	%	$	(2,500,000	)	$	-625,000	$	-937,500	$	-897,978	$	-1,548,238	60.55	%	-7.54	%
$	404,036,407	-20		-285.71	%	-16.25	%	$	(2,321,429	)	$	-580,357	$	-892,857	$	-855,217	$	-1,474,513	60.55	%	-7.18	%
$	405,598,390	-19		-271.43	%	-15.00	%	$	(2,142,857	)	$	-535,714	$	-848,214	$	-812,456	$	-1,400,787	60.55	%	-6.82	%
$	407,160,374	-18		-257.14	%	-13.75	%	$	(1,964,286	)	$	-491,071	$	-803,571	$	-769,696	$	-1,327,061	60.55	%	-6.46	%
$	408,722,358	-17		-242.86	%	-12.50	%	$	(1,785,714	)	$	-446,429	$	-758,929	$	-726,935	$	-1,253,336	60.55	%	-6.10	%
$	410,284,341	-16		-228.57	%	-11.25	%	$	(1,607,143	)	$	-401,786	$	-714,286	$	-684,174	$	-1,179,610	60.55	%	-5.74	%
$	411,846,325	-15		-214.29	%	-10.00	%	$	(1,428,571	)	$	-357,143	$	-669,643	$	-641,413	$	-1,105,884	60.55	%	-5.38	%
$	413,408,309	-14		-200.00	%	-8.75	%	$	(1,250,000	)	$	-312,500	$	-625,000	$	-598,652	$	-1,032,159	60.55	%	-5.02	%
$	414,970,292	-13		-185.71	%	-7.50	%	$	(1,071,429	)	$	-267,857	$	-580,357	$	-555,891	$	-958,433	60.55	%	-4.67	%
$	416,532,276	-12		-171.43	%	-6.25	%	$	(892,857	)	$	-223,214	$	-535,714	$	-513,130	$	-884,708	60.55	%	-4.31	%
$	418,094,260	-11		-157.14	%	-5.00	%	$	(714,286	)	$	-178,571	$	-491,071	$	-470,370	$	-810,982	60.55	%	-3.95	%
$	419,656,243	-10		-142.86	%	-3.75	%	$	(535,714	)	$	-133,929	$	-446,429	$	-427,609	$	-737,256	60.55	%	-3.59	%
$	421,218,227	-9		-128.57	%	-2.50	%	$	(357,143	)	$	-89,286	$	-401,786	$	-384,848	$	-663,531	60.55	%	-3.23	%
$	422,780,211	-8		-114.29	%	-1.25	%	$	(178,571	)	$	-44,643	$	-357,143	$	-342,087	$	-589,805	60.55	%	-2.87	%
$	424,342,194	-7		-100.00	%	0.00	%	$	(0	)	$	0	$	-312,500	$	-299,326	$	-516,079	60.55	%	-2.51	%
$	425,904,178	-6		-85.71	%	1.25	%	$	178,571		$	44,643	$	-267,857	$	-256,565	$	-442,354	60.55	%	-2.15	%
$	427,466,162	-5		-71.43	%	2.50	%	$	357,143		$	89,286	$	-223,214	$	-213,804	$	-368,628	60.55	%	-1.79	%
$	429,028,145	-4		-57.14	%	3.75	%	$	535,714		$	133,929	$	-178,571	$	-171,043	$	-294,903	60.55	%	-1.44	%
$	430,590,129	-3		-42.86	%	5.00	%	$	714,286		$	178,571	$	-133,929	$	-128,283	$	-221,177	60.55	%	-1.08	%
$	432,152,113	-2		-28.57	%	6.25	%	$	892,857		$	223,214	$	-89,286	$	-85,522	$	-147,451	60.55	%	-0.72	%
$	433,714,096	-1		-14.29	%	7.50	%	$	1,071,429		$	267,857	$	-44,643	$	-42,761	$	-73,726	60.55	%	-0.36	%
$	435,276,080	0		0.00	%	8.75	%	$	1,250,000		$	312,500	$	0	$	0	$	0	0.00	%
$	437,003,803	1		4.17	%	9.11	%	$	1,302,083		$	325,521	$	13,021	$	47,298	$	81,549	15.97	%	0.40	%
$	438,690,268	2		8.33	%	9.48	%	$	1,354,167		$	338,542	$	26,042	$	93,467	$	161,150	16.16	%	0.78	%
$	440,376,733	3		12.50	%	9.84	%	$	1,406,250		$	351,563	$	39,063	$	139,635	$	240,751	16.23	%	1.17	%
$	442,063,198	4		16.67	%	10.21	%	$	1,458,333		$	364,583	$	52,083	$	185,804	$	320,352	16.26	%	1.56	%
$	443,749,663	5		20.83	%	10.57	%	$	1,510,417		$	377,604	$	65,104	$	231,973	$	399,953	16.28	%	1.95	%
$	445,436,128	6		25.00	%	10.94	%	$	1,562,500		$	390,625	$	78,125	$	278,141	$	479,554	16.29	%	2.33	%
$	447,122,593	7		29.17	%	11.30	%	$	1,614,583		$	403,646	$	91,146	$	324,310	$	559,155	16.30	%	2.72	%
$	448,809,058	8		33.33	%	11.67	%	$	1,666,667		$	416,667	$	104,167	$	370,479	$	638,757	16.31	%	3.11	%
$	450,495,523	9		37.50	%	12.03	%	$	1,718,750		$	429,688	$	117,188	$	416,647	$	718,358	16.31	%	3.50	%
$	452,181,988	10		41.67	%	12.40	%	$	1,770,833		$	442,708	$	130,208	$	462,816	$	797,959	16.32	%	3.88	%
$	453,868,453	11		45.83	%	12.76	%	$	1,822,917		$	455,729	$	143,229	$	508,985	$	877,560	16.32	%	4.27	%
$	455,554,918	12		50.00	%	13.13	%	$	1,875,000		$	468,750	$	156,250	$	555,153	$	957,161	16.32	%	4.66	%

Projected Level		0
Low Cost Deposit Bonus		8.75	%

IAG New Business Originated (Net Fees) For Year Ended 2007		New Business Originated Level		% Bonus Change From Budget		New Business Originated Bonus		Total Bonus Pool		Bonus Pool For New Business Originated		Dollar Change From Budgeted Bonus Pool		After Tax Change In NI Due To New Business Originated Growth		Pre Tax Change in NI Due To New Business Originated		Bonus Pool Growth/Pre Tax Change In Income
$	525,200	-4		-100.00	%	0.00	%	$	—	$	0	$	-62,500	$	-46,864	$	-80,800	77.35	%	-13.33	%
$	545,400	-3		-75.00	%	0.44	%	$	312,500	$	15,625	$	-46,875	$	-35,148	$	-60,600	77.35	%	-10.00	%
$	565,600	-2		-50.00	%	0.88	%	$	625,000	$	31,250	$	-31,250	$	-23,432	$	-40,400	77.35	%	-6.67	%
$	585,800	-1		-25.00	%	1.31	%	$	937,500	$	46,875	$	-15,625	$	-11,716	$	-20,200	77.35	%	-3.33	%
$	606,000	0		0.00	%	1.75	%	$	1,250,000	$	62,500	$	0	$	0	$	0	0.00	%
$	626,000	1		4.17	%	1.82	%	$	1,302,083	$	65,104	$	2,604	$	11,600	$	20,000	13.02	%	3.30	%
$	646,000	2		8.33	%	1.90	%	$	1,354,167	$	67,708	$	5,208	$	23,200	$	40,000	13.02	%	6.60	%
$	666,000	3		12.50	%	1.97	%	$	1,406,250	$	70,313	$	7,813	$	34,800	$	60,000	13.02	%	9.90	%
$	686,000	4		16.67	%	2.04	%	$	1,458,333	$	72,917	$	10,417	$	46,400	$	80,000	13.02	%	13.20	%
$	706,000	5		20.83	%	2.11	%	$	1,510,417	$	75,521	$	13,021	$	58,000	$	100,000	13.02	%	16.50	%
$	726,000	6		25.00	%	2.19	%	$	1,562,500	$	78,125	$	15,625	$	69,600	$	120,000	13.02	%	19.80	%
$	746,000	7		29.17	%	2.26	%	$	1,614,583	$	80,729	$	18,229	$	81,200	$	140,000	13.02	%	23.10	%
$	766,000	8		33.33	%	2.33	%	$	1,666,667	$	83,333	$	20,833	$	92,800	$	160,000	13.02	%	26.40	%
$	786,000	9		37.50	%	2.41	%	$	1,718,750	$	85,938	$	23,438	$	104,400	$	180,000	13.02	%	29.70	%
$	806,000	10		41.67	%	2.48	%	$	1,770,833	$	88,542	$	26,042	$	116,000	$	200,000	13.02	%	33.00	%
$	826,000	11		45.83	%	2.55	%	$	1,822,917	$	91,146	$	28,646	$	127,600	$	220,000	13.02	%	36.30	%
$	846,000	12		50.00	%	2.63	%	$	1,875,000	$	93,750	$	31,250	$	139,200	$	240,000	13.02	%	39.60	%

Projected Level		0
IAG New Business Originated Bonus		1.75	%

Potential Bonus	35.00	%

Individual Performance Factor	TBD

*BONUS*	TBD

Enterprise Bancorp (EBTC) 8-K/ADeparture of Directors or Principal Officers