Juniata Valley Financial Corp EXECUTIVE ANNUAL INCENTIVE PLAN
Exhibit A – Participation Plan Year 2010
(Participating employees and their participant categories should be listed at the beginning of each year and adjusted for changes in participation throughout the year.)
Category 1–Francis Evanitsky – President and Chief Executive Officer
Steven Kramm – SVP-Operations/Technology Division Manager
Donald Shawley – SVP-Trust and Investment Management Division
Patricia Yearick – SVP-Community Banking Division
1
Juniata Valley Financial Corp Executive Annual Incentive Plan
Exhibit B – Bank Performance Factors and Award Schedule
Plan Year 2010
Category 1 – CEO Position
Goals
Performance Measures
(Basic) Earnings Per Share (75%)
Threshold
Target
Optimum
$
1.17
$1.23
$
1.35
Return on Average Equity (25%)
Threshold
Target
Optimum
9.44
%
9.94%
10.94
%
Awards(% of Base Pay)
Threshold
Target
Optimum
12
%
20%
30
%
Parameters
1. Company measures will be75% EPS and25% ROAE.
2. After the award is calculated according to the above schedule, the Board has the authority to adjust the award plus or minus 10% based on the participant’s individual performance for the year.
3.
Both Financial Measures must meet threshold to initiate an award in the plan.
4.
Will interpolate awards between threshold, target, and optimum.
5.
Will pay for performance above optimum at a scale of one-half the increase between target and optimum.
6.
Pay is defined astotal base pay for the applicable plan year.
2
Juniata Valley Financial Corp Executive Annual Incentive Plan
Exhibit B – Bank Performance Factors and Award Schedule
Plan Year 2010
Category 2
Bank Goal – EPS and ROAE (same as Category 1)
Threshold
Target
Optimum
Award as a % of pay
4.0
%
10.0
%
15.0
%
Individual Award
Not Meet
Meets Minimal
Meets
Exceeds Some
Exceeds Most
Award as a % of pay
0
%
2-2.5
%
4-6
%
6-7
%
8-10%
Notes:
1.
Bank must achieve minimum of $1.17 EPS and 9.44% ROAE to generate any payment.
2.
Bank performance between EPS and ROAE points is interpolated for awards.
3.
Moderate flexibility in total award.
4.
Employee must be at least at “meets minimal” level to earn individual award portion and annual performance evaluation
must be at least satisfactory for payment of an award
under plan.
5.
Individual award rating determined by assessing performance of established objectives.
6.
Pay is defined as total base pay for applicable plan year.
3
Juniata Valley Financial Corp Executive Annual Incentive Plan
Exhibit B – Bank Performance Factors and Award Schedule
Plan Year 2010
Category 3
Bank Goal – EPS and ROAE (same as Category 1)
Threshold
Target
Optimum
Award as a % of pay
3.0
%
7.5
%
12.5
%
Individual Award
Not Meet
Meets Minimal
Meets
Exceeds Some
Exceeds Most
Award as a % of pay
0
%
2-2.5
%
4-6
%
6-7
%
8-10%
Notes:
1.
Bank must achieve minimum of $1.17 EPS and 9.44% ROAE to generate any payment.
2.
Bank performance between EPS points is interpolated for awards.
3.
Moderate flexibility in total award.
Employee must be at least at “meets minimal” level to earn individual award portion and annual performance evaluation
4.
must be at least satisfactory for payment of an award under plan.
5.
Individual award rating determined by assessing performance of established objectives.
6.
Pay is defined as total base pay for applicable plan year.
4
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