CFS Bancorp (CITZ) Inactive 10-Q2008 Q1 Quarterly report

Filed: 5 May 08, 12:00am

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Removed: Additionally, adjustment, apply, assessing, attribute, authorized, billion, callable, carried, Certificate, Chairman, closed, communicated, Darovic, derecognition, duly, Earlier, encouraged, FIN, fourth, Freddie, FSB, furniture, GSE, hedge, herewith, hiring, imbalance, improve, Incorporated, Incorporation, Indiana, July, Koricanac, limitation, List, low, Mac, modification, modified, noted, November, occupancy, opening, outcome, Park, permitted, quality, record, registrant, Restated, retail, Rule, separate, thereunto, threshold, timely, Tinley, transition, uncertain, Uncertainty, undersigned, upward, usage, Zoran

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Exhibit 10.15

CFS Bancorp, Inc. 2008 Cash Incentive Compensation Program

On April 29, 2008, the Compensation Committee of the Board of Directors approved a Cash Incentive Compensation Program (Cash Incentive Program) for officers and key employees. The Cash Incentive Program provides for an opportunity of a cash bonus based on the actual performance of the Company or the individual relative to established performance objectives. These objectives are position specific and include a mix of corporate, individual and, where relevant, business unit measures.

Bonuses under the Cash Incentive Program are expected to be paid in February 2009. If the performance targets are achieved, a person will be entitled to receive a bonus only if he or she is employed by the Company or one of its affiliates on the bonus payment date.