Exhibit 10.1
| Award Range | |||||||||
| Summit Financial Group, Inc. | Douglas Mitchell | Threshold: | 10.00% | 16,000 | |||||
| 2007 Annual Incentive Compensation Plan | Position: Chief Banking Officer | Target: | 20.00% | 32,000 | |||||
| Maximum | 30.00% | 48,000 | |||||||
| Measurement | Payout Potential | Actual | |||||||
| Objective | Weight | Expected Performance | Date | Threshold | Target | Maximum | Actual Performance | Payout | |
| Individual Performance -- | |||||||||
| Account Growth | *% | Ensure that we have a net positive number of transaction accounts, both business and personal, interest bearing and non-interest bearing accounts. Threshold: *% Growth; Target: *%; Maximum: *% or > | 12/07 | $* | $* | $* | |||
| Core Deposit Growth | *% | Grow our core deposits by Threshold: *%; Target: *%; Maximum: *% or > | 12/07 | $* | $* | $* | |||
| Internet Banking | *% | Continued Growth in "Active" Internet Banking Users. Threshold: *%; Target: *%; Maximum: *% or > | 12/07 | $* | $* | $* | |||
| Non-Interest Bearing Checking Growth (Includes Forever Free w/ Interest) measured in terms of avg. balance | *% | Threshold: *% Target: *%; Maximum: *% or > | 12/07 | $* | $* | $* | |||
| Remote Capture | *% | Increase Active Remote Capture Customers not currently depositing with us. Threshold: *; Target: *; Maximum: * or > | 12/07 | $* | $* | $* | |||
Totals | 100.00% | ||||||||
| * Confidential and proprietary information | Approved: | ||||||||
| H. Charles Maddy, III, President & CEO | |||||||||