EXHIBIT 10.7
PANHANDLE STATE BANK
2003-2005 LONG TERM EXECUTIVE INCENTIVE PLAN
PLAN DOCUMENT
January 2003
AMENDED EFFECTIVE MARCH 4, 2005
TABLE OF CONTENTS
SECTION PAGE
- ------- ----
Purpose 3
Administration 3
Plan Description 3
Eligibility 3
Size of Award Opportunities 4
Performance Criteria and Goals 4
Payout Schedule 4
Withholding 4
Payment 4
Automatic Vesting 4
No Guarantee of Employment 5
Modification and Termination 5
Extraordinary Items 6
Termination 6
Exhibit "A" Participants
Exhibit "B" Matrix of Performance
2
PANHANDLE STATE BANK
2003-2005 LONG-TERM INCENTIVE PLAN
This document describes the 2003-2005 Long-Term Incentive Plan (the Plan) for
Panhandle State Bank (the Bank).
1. PURPOSE.
The purpose of the Plan is to provide motivation and direction to key
executives to achieve the long-term strategic goals of the Bank. Specific
objectives of the Plan include:
- Support the Bank's long-term strategic plan.
- Provide long-term orientation to decision making
- Focus participants' attention on maximizing long-term shareholder
value.
2. ADMINISTRATION.
The Plan will be administered by the Compensation Committee of the Board
of Directors of Intermountain Community Bancorp (the Committee). The
Committee will assure that the Plan is implemented and maintained
according to Plan provisions.
3. PLAN DESCRIPTION.
The Plan will provide participants with long-term financial reward
opportunities based on achieving minimum levels of long-term performance
goals. The Plan consists of a matrix which will reward the participants
providing the minimum long-term corporate goals are obtained, and, if
achieved, stock grants will be provided to Plan participants such that
fifty (50%) percent of the long-term reward will be provided to Plan
participants in 2006 and the remaining fifty (50%) percent to be provided
in 2007. The minimum performance levels are to be based upon a three (3)
year running average of return on equity and net asset growth.
4. ELIGIBILITY.
Participants in the Plan will include key members of the executive team of
the Bank. The CEO of the Bank will recommend who participates in the Plan
for Committee approval. The CEO will communicate such participation to
each participant at the beginning of each Plan Performance Period.
Participants must be continuously employed at the Bank for all three (3)
years of the Long-Term Plan and must further remain employed until
December 1, 2006, in order to receive the first half of the grant and
continue to be employed until December 1, 2007, for the second half of the
grant. Participants for the 2003-2005 Long-Term Plan are listed on Exhibit
"A" of this Plan.
3
At the beginning of each calendar year, the CEO will review and, if
appropriate, revise Plan participation for the remaining period of the
Long-Term Plan.
5. SIZE OF AWARD OPPORTUNITIES.
To be most effective, payout opportunities must be meaningful and
competitive. To accomplish this, there has been established a matrix which
will award participants for bank performance so long as minimum levels of
return on equity and average asset growth over a three year period are
met. If the Bank's performance is in excess of the minimums, the Plan's
participant benefits will increase as performance increases. The
performance matrix for each participant in this Plan is attached hereto as
Exhibit "B". The stock grants awarded shall be adjusted for any stock
splits/dividends issued during the term of the Plan.
6. PERFORMANCE CRITERIA AND GOALS.
The performance criteria of consolidated average annual return on equity
of Intermountain Community Bancorp and consolidated average annual asset
growth of Intermountain Community Bancorp for the three-year period
covering fiscal years 2003 through 2005 will support the maximization of
long-term shareholder value. At the beginning of each fiscal year, the CEO
will provide to the Committee the performance pursuant to the Plan for the
prior calendar year.
7. PAYOUT SCHEDULE.
The benefits, if any, to be paid to the executives shall vest such that
fifty (50%) percent of the benefits are to be paid on December 1, 2006,
and the remaining fifty (50%) percent to be paid on December 1, 2007. As a
condition precedent to the award of any benefits pursuant to this Plan,
the executive will be required to remain employed by the Bank at the time
of the payout of benefits.
8. WITHHOLDING.
The Bank shall deduct the regulatory tax withholding amounts from any
earned awards that are paid, and participant shall be responsible for any
tax implications associated with the award.
9. PAYMENT.
Benefits to be awarded pursuant to this Plan, if any, shall be in the form
of a stock grant to the executive according to the applicable matrix
attached as Exhibit "B".
10. AUTOMATIC VESTING.
If a change in control of Intermountain Community Bancorp occurs before
the end of the
4
three-year period covering fiscal years 2003 through 2005, the stock
grants awarded to participants under the Plan shall be determined as of
the date the change in control occurred rather than as of the end of the
three-year period. The stock grants shall be determined by the Committee
based on Intermountain Community Bancorp's consolidated average annual
return on equity and consolidated average annual asset growth through the
most recent quarter end before the change in control occurred. If the most
recent quarter end is an interim period, the Committee may make
annualizing or other appropriate adjustments to consolidated average
annual return on equity and consolidated average annual asset growth. The
stock grants shall be similarly determined for any participant who dies or
who becomes disabled (as determined by the Committee) before the end of
the three-year period, based on consolidated average annual return on
equity and consolidated average annual asset growth through the most
recent quarter end before death or disability occurred. Once a
participant's stock grant is determined after a change in control or after
the participant's death or disability, the stock grant shall be paid to
the participant as promptly as practicable, rather than according to the
schedule set forth in section 7 (50% on December 1, 2006 and 50% on
December 1, 2007), and the requirement that a participant remain employed
through December 1, 2007 to claim entitlement to the full amount of his
stock grant shall not apply. If a change in control occurs after December
31, 2005 or if the participant dies or becomes disabled after December 31,
2005 but before the stock grant is paid according to the schedule set
forth in section 7, the stock grant shall likewise be paid to the
participant as promptly as practicable and the requirement that the
participant remain employed through December 1, 2007 to claim entitlement
to the full amount of his stock grant shall not apply.
For purposes of this section 10, the term change in control shall mean a
change in the ownership of Intermountain Community Bancorp, a change in
effective control of Intermountain Community Bancorp, or a change in the
ownership of a substantial portion of the assets of Intermountain
Community Bancorp, as those terms are defined in Internal Revenue Code
section 409A or in regulations or guidance of general applicability issued
by the Treasury Department under Section 409A of the Internal Revenue
Code, including the Treasury Department's Notice 2005-1, Part IV.B
(questions 11 through 14), contained in Internal Revenue Bulletin 2005-2
(January 10, 2005). For purposes of this section 10, the term disability
means that, because of any medically determinable physical or mental
impairment that can be expected to result in death or can be expected to
last for a continuous period of at least 12 months, the participant is
unable to engage in any substantial gainful activity or the participant is
receiving income replacement benefits for a period of at least three
months under an accident and health plan covering employees of the Bank.
The existence of disability shall be determined by the Committee.
11. NO GUARANTEE OF EMPLOYMENT.
Nothing in the Plan or any Plan materials guarantees employment at the
Bank. Further, this Plan should not be implied as any contract agreement.
12. MODIFICATION AND TERMINATION.
The Committee has the right to amend or terminate the Plan at any time.
However,
5
termination or modification of the Plan during a Performance Period will
not negatively affect performance goals and payout opportunities up until
the point of termination.
13. EXTRAORDINARY ITEMS.
The Committee has the authority but no obligation to exclude any
extraordinary accounting items such as changes in generally accepted
accounting procedures, sales or major assets or regulatory changes.
14. TERMINATION.
Participants must be continuously employed by the Bank throughout the
2003-2005 performance period and must further continue to be employed
until December 1, 2006, in order to receive fifty (50%) percent of the
benefits and December 1, 2007, in order to receive the balance of the
benefits. Participants who become fully disabled or die during the
long-term Plan will receive benefits pursuant to the Plan on a pro-rata
basis based upon the performance results through the most recent quarter
end. Participants who voluntarily or involuntarily terminate their
employment prior to receiving benefits under this Plan shall forfeit
automatically their rights to any award.
6
Exhibit "A" - Participants
2003 - 2005 Long Term Plan
Curt Hecker Chief Executive Officer
Jerry Smith President, Branch Administration
Doug Wright Executive Vice President
& Chief Financial Officer
John Nagel Senior Vice President
& Credit Administrator
7
PANHANDLE BANK
Long-Term Incentive Program
COMPANY TOTAL SHARES
Asset Growth
------------------------------------------------------------------------------------------------------------------
ROE 58.0% 60.0% 62.0% 64.0% 66.0% 68.0% 70.0% 72.0% 74.0% 76.0%
- ----- ------ ------ ------ ------ ------ ------ ------ ------ ------ ------
12.00% 10,060 10,720 11,380 12,040 12,700 13,360 14,020 14,680 15,340 16,000
12.25% 10,240 10,920 11,600 12,280 12,960 13,640 14,320 15,000 15,680 16,360
12.50% 10,480 11,180 11,880 12,580 13,280 13,980 14,680 15,380 16,080 16,780
12.75% 10,720 11,440 12,160 12,880 13,600 14,320 15,040 15,760 16,480 17,200
13.00% 10,960 11,700 12,440 13,180 13,920 14,660 15,400 16,140 16,880 17,620
13.25% 11,210 11,950 12,690 13,430 14,170 14,910 15,650 16,390 17,130 17,870
13.50% 11,480 12,240 13,000 13,760 14,520 15,280 16,040 16,800 17,560 18,320
13.75% 11,740 12,530 13,320 14,110 14,900 15,690 16,480 17,270 18,060 18,850
14.00% 12,000 12,800 13,600 14,400 15,200 16,000 16,800 17,600 18,400 19,200
14.25% 12,270 13,090 13,910 14,730 15,550 16,370 17,190 18,010 18,830 19,650
14.50% 12,560 13,400 14,240 15,080 15,920 16,760 17,600 18,440 19,280 20,120
14.75% 12,840 13,700 14,560 15,420 16,280 17,140 18,000 18,860 19,720 20,580
15.00% 13,120 14,000 14,880 15,760 16,640 17,520 18,400 19,280 20,160 21,040
15.25% 13,440 14,340 15,240 16,140 17,040 17,940 18,840 19,740 20,640 21,540
15.50% 13,750 14,670 15,590 16,510 17,430 18,350 19,270 20,190 21,110 22,030
15.75% 14,060 15,010 15,960 16,910 17,860 18,810 19,760 20,710 21,660 22,610
16.00% 14,380 15,340 16,300 17,260 18,220 19,180 20,140 21,100 22,060 23,020
16.25% 14,700 15,670 16,640 17,610 18,580 19,550 20,520 21,490 22,460 23,430
16.50% 15,040 16,050 17,060 18,070 19,080 20,090 21,100 22,110 23,120 24,130
16.75% 15,380 16,400 17,420 18,440 19,460 20,480 21,500 22,520 23,540 24,560
17.00% 15,740 16,790 17,840 18,890 19,940 20,990 22,040 23,090 24,140 25,190
17.25% 16,100 17,180 18,260 19,340 20,420 21,500 22,580 23,660 24,740 25,820
17.50% 16,450 17,550 18,650 19,750 20,850 21,950 23,050 24,150 25,250 26,350
17.75% 16,840 17,960 19,080 20,200 21,320 22,440 23,560 24,680 25,800 26,920
18.00% 17,220 18,360 19,500 20,640 21,780 22,920 24,060 25,200 26,340 27,480
18.25% 17,620 18,800 19,980 21,160 22,340 23,520 24,700 25,880 27,060 28,240
18.50% 18,030 19,220 20,410 21,600 22,790 23,980 25,170 26,360 27,550 28,740
18.75% 18,430 19,660 20,890 22,120 23,350 24,580 25,810 27,040 28,270 29,500
19.00% 18,850 20,110 21,370 22,630 23,890 25,150 26,410 27,670 28,930 30,190
19.25% 19,280 20,570 21,860 23,150 24,440 25,730 27,020 28,310 29,600 30,890
19.50% 19,720 21,040 22,360 23,680 25,000 26,320 27,640 28,960 30,280 31,600
19.75% 20,170 21,510 22,850 24,190 25,530 26,870 28,210 29,550 30,890 32,230
20.00% 20,630 22,010 23,390 24,770 26,150 27,530 28,910 30,290 31,670 33,050
20.25% 21,100 22,500 23,900 25,300 26,700 28,100 29,500 30,900 32,300 33,700
20.50% 21,590 23,030 24,470 25,910 27,350 28,790 30,230 31,670 33,110 34,550
20.75% 22,080 23,560 25,040 26,520 28,000 29,480 30,960 32,440 33,920 35,400
21.00% 22,590 24,100 25,610 27,120 28,630 30,140 31,650 33,160 34,670 36,180
21.25% 23,100 24,640 26,180 27,720 29,260 30,800 32,340 33,880 35,420 36,960
21.50% 23,620 25,200 26,780 28,360 29,940 31,520 33,100 34,680 36,260 37,840
21.75% 24,160 25,780 27,400 29,020 30,640 32,260 33,880 35,500 37,120 38,740
22.00% 24,760 26,400 28,040 29,680 31,320 32,960 34,600 36,240 37,880 39,520
Asset Growth
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ROE 78.0% 80.0% 82.0% 84.0% 86.0% 88.0% 90.0% 92.0% 94.0%
- ----- ------ ------ ------ ------ ------ ------ ------ ------ ------
12.00% 16,700 17,330 17,960 18,590 19,220 19,850 20,480 21,110 21,740
12.25% 17,080 17,720 18,360 19,000 19,640 20,280 20,920 21,560 22,200
12.50% 17,470 18,130 18,790 19,450 20,110 20,770 21,430 22,090 22,750
12.75% 17,860 18,530 19,200 19,870 20,540 21,210 21,880 22,550 23,220
13.00% 18,270 18,950 19,630 20,310 20,990 21,670 22,350 23,030 23,710
13.25% 18,690 19,390 20,090 20,790 21,490 22,190 22,890 23,590 24,290
13.50% 19,120 19,840 20,560 21,280 22,000 22,720 23,440 24,160 24,880
13.75% 19,560 20,300 21,040 21,780 22,520 23,260 24,000 24,740 25,480
14.00% 20,000 20,750 21,500 22,250 23,000 23,750 24,500 25,250 26,000
14.25% 20,460 21,220 21,980 22,740 23,500 24,260 25,020 25,780 26,540
14.50% 20,920 21,710 22,500 23,290 24,080 24,870 25,660 26,450 27,240
14.75% 21,400 22,200 23,000 23,800 24,600 25,400 26,200 27,000 27,800
15.00% 21,890 22,710 23,530 24,350 25,170 25,990 26,810 27,630 28,450
15.25% 22,390 23,230 24,070 24,910 25,750 26,590 27,430 28,270 29,110
15.50% 22,910 23,770 24,630 25,490 26,350 27,210 28,070 28,930 29,790
15.75% 23,430 24,310 25,190 26,070 26,950 27,830 28,710 29,590 30,470
16.00% 23,960 24,860 25,760 26,660 27,560 28,460 29,360 30,260 31,160
16.25% 24,500 25,420 26,340 27,260 28,180 29,100 30,020 30,940 31,860
16.50% 25,060 26,010 26,960 27,910 28,860 29,810 30,760 31,710 32,660
16.75% 25,640 26,600 27,560 28,520 29,480 30,440 31,400 32,360 33,320
17.00% 26,220 27,190 28,160 29,130 30,100 31,070 32,040 33,010 33,980
17.25% 26,820 27,830 28,840 29,850 30,860 31,870 32,880 33,890 34,900
17.50% 27,430 28,450 29,470 30,490 31,510 32,530 33,550 34,570 35,590
17.75% 28,060 29,120 30,180 31,240 32,300 33,360 34,420 35,480 36,540
18.00% 28,700 29,780 30,860 31,940 33,020 34,100 35,180 36,260 37,340
18.25% 29,360 30,460 31,560 32,660 33,760 34,860 35,960 37,060 38,160
18.50% 30,040 31,160 32,280 33,400 34,520 35,640 36,760 37,880 39,000
18.75% 30,720 31,880 33,040 34,200 35,360 36,520 37,680 38,840 40,000
19.00% 31,420 32,600 33,780 34,960 36,140 37,320 38,500 39,680 40,860
19.25% 32,140 33,340 34,540 35,740 36,940 38,140 39,340 40,540 41,740
19.50% 32,880 34,120 35,360 36,600 37,840 39,080 40,320 41,560 42,800
19.75% 33,630 34,890 36,150 37,410 38,670 39,930 41,190 42,450 43,710
20.00% 34,390 35,690 36,990 38,290 39,590 40,890 42,190 43,490 44,790
20.25% 35,180 36,500 37,820 39,140 40,460 41,780 43,100 44,420 45,740
20.50% 35,980 37,320 38,660 40,000 41,340 42,680 44,020 45,360 46,700
20.75% 36,800 38,180 39,560 40,940 42,320 43,700 45,080 46,460 47,840
21.00% 37,640 39,050 40,460 41,870 43,280 44,690 46,100 47,510 48,920
21.25% 38,500 39,950 41,400 42,850 44,300 45,750 47,200 48,650 50,100
21.50% 39,380 40,860 42,340 43,820 45,300 46,780 48,260 49,740 51,220
21.75% 40,280 41,800 43,320 44,840 46,360 47,880 49,400 50,920 52,440
22.00% 41,240 42,780 44,320 45,860 47,400 48,940 50,480 52,020 53,600
PANHANDLE BANK
Long-Term Incentive Program
Executive - JS
NUMBER OF SHARES
Asset Growth
-----------------------------------------------------------------------------------------------------------------
ROE 58.0% 60.0% 62.0% 64.0% 66.0% 68.0% 70.0% 72.0% 74.0% 76.0%
- ----- ----- ----- ----- ----- ----- ----- ----- ----- ----- -----
12.00% 1,880 2,000 2,120 2,240 2,360 2,480 2,600 2,720 2,840 2,960
12.25% 1,910 2,040 2,170 2,300 2,430 2,560 2,690 2,820 2,950 3,080
12.50% 1,960 2,090 2,220 2,350 2,480 2,610 2,740 2,870 3,000 3,130
12.75% 2,000 2,130 2,260 2,390 2,520 2,650 2,780 2,910 3,040 3,170
13.00% 2,050 2,190 2,330 2,470 2,610 2,750 2,890 3,030 3,170 3,310
13.25% 2,090 2,230 2,370 2,510 2,650 2,790 2,930 3,070 3,210 3,350
13.50% 2,140 2,280 2,420 2,560 2,700 2,840 2,980 3,120 3,260 3,400
13.75% 2,190 2,340 2,490 2,640 2,790 2,940 3,090 3,240 3,390 3,540
14.00% 2,240 2,390 2,540 2,690 2,840 2,990 3,140 3,290 3,440 3,590
14.25% 2,290 2,440 2,590 2,740 2,890 3,040 3,190 3,340 3,490 3,640
14.50% 2,350 2,510 2,670 2,830 2,990 3,150 3,310 3,470 3,630 3,790
14.75% 2,400 2,560 2,720 2,880 3,040 3,200 3,360 3,520 3,680 3,840
15.00% 2,450 2,610 2,770 2,930 3,090 3,250 3,410 3,570 3,730 3,890
15.25% 2,510 2,680 2,850 3,020 3,190 3,360 3,530 3,700 3,870 4,040
15.50% 2,570 2,740 2,910 3,080 3,250 3,420 3,590 3,760 3,930 4,100
15.75% 2,630 2,810 2,990 3,170 3,350 3,530 3,710 3,890 4,070 4,250
16.00% 2,690 2,870 3,050 3,230 3,410 3,590 3,770 3,950 4,130 4,310
16.25% 2,750 2,930 3,110 3,290 3,470 3,650 3,830 4,010 4,190 4,370
16.50% 2,810 3,000 3,190 3,380 3,570 3,760 3,950 4,140 4,330 4,520
16.75% 2,870 3,060 3,250 3,440 3,630 3,820 4,010 4,200 4,390 4,580
17.00% 2,940 3,140 3,340 3,540 3,740 3,940 4,140 4,340 4,540 4,740
17.25% 3,010 3,210 3,410 3,610 3,810 4,010 4,210 4,410 4,610 4,810
17.50% 3,070 3,280 3,490 3,700 3,910 4,120 4,330 4,540 4,750 4,960
17.75% 3,140 3,350 3,560 3,770 3,980 4,190 4,400 4,610 4,820 5,030
18.00% 3,220 3,430 3,640 3,850 4,060 4,270 4,480 4,690 4,900 5,110
18.25% 3,290 3,510 3,730 3,950 4,170 4,390 4,610 4,830 5,050 5,270
18.50% 3,370 3,590 3,810 4,030 4,250 4,470 4,690 4,910 5,130 5,350
18.75% 3,440 3,670 3,900 4,130 4,360 4,590 4,820 5,050 5,280 5,510
19.00% 3,520 3,760 4,000 4,240 4,480 4,720 4,960 5,200 5,440 5,680
19.25% 3,600 3,840 4,080 4,320 4,560 4,800 5,040 5,280 5,520 5,760
19.50% 3,680 3,930 4,180 4,430 4,680 4,930 5,180 5,430 5,680 5,930
19.75% 3,770 4,020 4,270 4,520 4,770 5,020 5,270 5,520 5,770 6,020
20.00% 3,850 4,110 4,370 4,630 4,890 5,150 5,410 5,670 5,930 6,190
20.25% 3,940 4,200 4,460 4,720 4,980 5,240 5,500 5,760 6,020 6,280
20.50% 4,030 4,300 4,570 4,840 5,110 5,380 5,650 5,920 6,190 6,460
20.75% 4,120 4,400 4,680 4,960 5,240 5,520 5,800 6,080 6,360 6,640
21.00% 4,220 4,500 4,780 5,060 5,340 5,620 5,900 6,180 6,460 6,740
21.25% 4,310 4,600 4,890 5,180 5,470 5,760 6,050 6,340 6,630 6,920
21.50% 4,410 4,700 4,990 5,280 5,570 5,860 6,150 6,440 6,730 7,020
21.75% 4,510 4,810 5,110 5,410 5,710 6,010 6,310 6,610 6,910 7,210
22.00% 4,610 4,920 5,230 5,540 5,850 6,160 6,470 6,780 7,090 7,400
Asset Growth
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ROE 78.0% 80.0% 82.0% 84.0% 86.0% 88.0% 90.0% 92.0% 94.0%
- ----- ----- ----- ----- ----- ----- ----- ----- ----- -----
12.00% 3,120 3,240 3,360 3,480 3,600 3,720 3,840 3,960 4,050
12.25% 3,190 3,310 3,430 3,550 3,670 3,790 3,910 4,030 4,150
12.50% 3,260 3,380 3,500 3,620 3,740 3,860 3,980 4,100 4,220
12.75% 3,330 3,450 3,570 3,690 3,810 3,930 4,050 4,170 4,290
13.00% 3,410 3,540 3,670 3,800 3,930 4,060 4,190 4,320 4,450
13.25% 3,490 3,620 3,750 3,880 4,010 4,140 4,270 4,400 4,530
13.50% 3,570 3,700 3,830 3,960 4,090 4,220 4,350 4,480 4,610
13.75% 3,650 3,790 3,930 4,070 4,210 4,350 4,490 4,630 4,770
14.00% 3,730 3,870 4,010 4,150 4,290 4,430 4,570 4,710 4,850
14.25% 3,820 3,960 4,100 4,240 4,380 4,520 4,660 4,800 4,940
14.50% 3,910 4,060 4,210 4,360 4,510 4,660 4,810 4,960 5,110
14.75% 4,000 4,150 4,300 4,450 4,600 4,750 4,900 5,050 5,200
15.00% 4,090 4,240 4,390 4,540 4,690 4,840 4,990 5,140 5,290
15.25% 4,180 4,340 4,500 4,660 4,820 4,980 5,140 5,300 5,460
15.50% 4,280 4,440 4,600 4,760 4,920 5,080 5,240 5,400 5,560
15.75% 4,380 4,540 4,700 4,860 5,020 5,180 5,340 5,500 5,660
16.00% 4,480 4,650 4,820 4,990 5,160 5,330 5,500 5,670 5,840
16.25% 4,580 4,750 4,920 5,090 5,260 5,430 5,600 5,770 5,940
16.50% 4,680 4,860 5,040 5,220 5,400 5,580 5,760 5,940 6,120
16.75% 4,790 4,970 5,150 5,330 5,510 5,690 5,870 6,050 6,230
17.00% 4,900 5,080 5,260 5,440 5,620 5,800 5,980 6,160 6,340
17.25% 5,010 5,200 5,390 5,580 5,770 5,960 6,150 6,340 6,530
17.50% 5,120 5,310 5,500 5,690 5,880 6,070 6,260 6,450 6,640
17.75% 5,240 5,440 5,640 5,840 6,040 6,240 6,440 6,640 6,840
18.00% 5,360 5,560 5,760 5,960 6,160 6,360 6,560 6,760 6,960
18.25% 5,480 5,690 5,900 6,110 6,320 6,530 6,740 6,950 7,160
18.50% 5,610 5,820 6,030 6,240 6,450 6,660 6,870 7,080 7,290
18.75% 5,740 5,960 6,180 6,400 6,620 6,840 7,060 7,280 7,500
19.00% 5,870 6,090 6,310 6,530 6,750 6,970 7,190 7,410 7,630
19.25% 6,000 6,230 6,460 6,690 6,920 7,150 7,380 7,610 7,840
19.50% 6,140 6,370 6,600 6,830 7,060 7,290 7,520 7,750 7,980
19.75% 6,280 6,520 6,760 7,000 7,240 7,480 7,720 7,960 8,200
20.00% 6,420 6,660 6,900 7,140 7,380 7,620 7,860 8,100 8,340
20.25% 6,570 6,820 7,070 7,320 7,570 7,820 8,070 8,320 8,570
20.50% 6,720 6,970 7,220 7,470 7,720 7,970 8,220 8,470 8,720
20.75% 6,870 7,130 7,390 7,650 7,910 8,170 8,430 8,690 8,950
21.00% 7,030 7,290 7,550 7,810 8,070 8,330 8,590 8,850 9,110
21.25% 7,190 7,460 7,730 8,000 8,270 8,540 8,810 9,080 9,350
21.50% 7,350 7,630 7,910 8,190 8,470 8,750 9,030 9,310 9,590
21.75% 7,520 7,800 8,080 8,360 8,640 8,920 9,200 9,480 9,760
22.00% 7,690 7,980 8,270 8,560 8,850 9,140 9,430 9,720 10,000
PANHANDLE BANK
Long-Term Incentive Program
Executive - DW
NUMBER OF SHARES
Asset Growth
-----------------------------------------------------------------------------------------------------------------
ROE 58.0% 60.0% 62.0% 64.0% 66.0% 68.0% 70.0% 72.0% 74.0% 76.0%
- ----- ----- ----- ----- ----- ----- ----- ----- ----- ----- -----
12.00% 1,790 1,910 2,030 2,150 2,270 2,390 2,510 2,630 2,750 2,870
12.25% 1,810 1,930 2,050 2,170 2,290 2,410 2,530 2,650 2,770 2,890
12.50% 1,850 1,970 2,090 2,210 2,330 2,450 2,570 2,690 2,810 2,930
12.75% 1,900 2,030 2,160 2,290 2,420 2,550 2,680 2,810 2,940 3,070
13.00% 1,940 2,070 2,200 2,330 2,460 2,590 2,720 2,850 2,980 3,110
13.25% 1,980 2,110 2,240 2,370 2,500 2,630 2,760 2,890 3,020 3,150
13.50% 2,030 2,170 2,310 2,450 2,590 2,730 2,870 3,010 3,150 3,290
13.75% 2,080 2,220 2,360 2,500 2,640 2,780 2,920 3,060 3,200 3,340
14.00% 2,120 2,260 2,400 2,540 2,680 2,820 2,960 3,100 3,240 3,380
14.25% 2,170 2,320 2,470 2,620 2,770 2,920 3,070 3,220 3,370 3,520
14.50% 2,220 2,370 2,520 2,670 2,820 2,970 3,120 3,270 3,420 3,570
14.75% 2,270 2,420 2,570 2,720 2,870 3,020 3,170 3,320 3,470 3,620
15.00% 2,320 2,480 2,640 2,800 2,960 3,120 3,280 3,440 3,600 3,760
15.25% 2,380 2,540 2,700 2,860 3,020 3,180 3,340 3,500 3,660 3,820
15.50% 2,430 2,590 2,750 2,910 3,070 3,230 3,390 3,550 3,710 3,870
15.75% 2,480 2,650 2,820 2,990 3,160 3,330 3,500 3,670 3,840 4,010
16.00% 2,540 2,710 2,880 3,050 3,220 3,390 3,560 3,730 3,900 4,070
16.25% 2,600 2,770 2,940 3,110 3,280 3,450 3,620 3,790 3,960 4,130
16.50% 2,660 2,840 3,020 3,200 3,380 3,560 3,740 3,920 4,100 4,280
16.75% 2,720 2,900 3,080 3,260 3,440 3,620 3,800 3,980 4,160 4,340
17.00% 2,780 2,970 3,160 3,350 3,540 3,730 3,920 4,110 4,300 4,490
17.25% 2,840 3,030 3,220 3,410 3,600 3,790 3,980 4,170 4,360 4,550
17.50% 2,910 3,100 3,290 3,480 3,670 3,860 4,050 4,240 4,430 4,620
17.75% 2,980 3,180 3,380 3,580 3,780 3,980 4,180 4,380 4,580 4,780
18.00% 3,040 3,240 3,440 3,640 3,840 4,040 4,240 4,440 4,640 4,840
18.25% 3,110 3,320 3,530 3,740 3,950 4,160 4,370 4,580 4,790 5,000
18.50% 3,190 3,400 3,610 3,820 4,030 4,240 4,450 4,660 4,870 5,080
18.75% 3,260 3,480 3,700 3,920 4,140 4,360 4,580 4,800 5,020 5,240
19.00% 3,330 3,550 3,770 3,990 4,210 4,430 4,650 4,870 5,090 5,310
19.25% 3,410 3,640 3,870 4,100 4,330 4,560 4,790 5,020 5,250 5,480
19.50% 3,490 3,720 3,950 4,180 4,410 4,640 4,870 5,100 5,330 5,560
19.75% 3,560 3,800 4,040 4,280 4,520 4,760 5,000 5,240 5,480 5,720
20.00% 3,650 3,890 4,130 4,370 4,610 4,850 5,090 5,330 5,570 5,810
20.25% 3,730 3,980 4,230 4,480 4,730 4,980 5,230 5,480 5,730 5,980
20.50% 3,820 4,070 4,320 4,570 4,820 5,070 5,320 5,570 5,820 6,070
20.75% 3,910 4,170 4,430 4,690 4,950 5,210 5,470 5,730 5,990 6,250
21.00% 4,000 4,270 4,540 4,810 5,080 5,350 5,620 5,890 6,160 6,430
21.25% 4,090 4,360 4,630 4,900 5,170 5,440 5,710 5,980 6,250 6,520
21.50% 4,180 4,460 4,740 5,020 5,300 5,580 5,860 6,140 6,420 6,700
21.75% 4,280 4,570 4,860 5,150 5,440 5,730 6,020 6,310 6,600 6,890
22.00% 4,390 4,680 4,970 5,260 5,550 5,840 6,130 6,420 6,710 7,000
Asset Growth
-----------------------------------------------------------------------------------------------------
ROE 78.0% 80.0% 82.0% 84.0% 86.0% 88.0% 90.0% 92.0% 94.0%
- ----- ----- ----- ----- ----- ----- ----- ----- ----- -----
12.00% 2,950 3,060 3,170 3,280 3,390 3,500 3,610 3,720 3,850
12.25% 3,020 3,130 3,240 3,350 3,460 3,570 3,680 3,790 3,900
12.50% 3,090 3,210 3,330 3,450 3,570 3,690 3,810 3,930 4,050
12.75% 3,160 3,280 3,400 3,520 3,640 3,760 3,880 4,000 4,120
13.00% 3,230 3,350 3,470 3,590 3,710 3,830 3,950 4,070 4,190
13.25% 3,300 3,420 3,540 3,660 3,780 3,900 4,020 4,140 4,260
13.50% 3,380 3,510 3,640 3,770 3,900 4,030 4,160 4,290 4,420
13.75% 3,460 3,590 3,720 3,850 3,980 4,110 4,240 4,370 4,500
14.00% 3,540 3,670 3,800 3,930 4,060 4,190 4,320 4,450 4,580
14.25% 3,620 3,760 3,900 4,040 4,180 4,320 4,460 4,600 4,740
14.50% 3,700 3,840 3,980 4,120 4,260 4,400 4,540 4,680 4,820
14.75% 3,780 3,920 4,060 4,200 4,340 4,480 4,620 4,760 4,900
15.00% 3,870 4,020 4,170 4,320 4,470 4,620 4,770 4,920 5,070
15.25% 3,960 4,110 4,260 4,410 4,560 4,710 4,860 5,010 5,160
15.50% 4,050 4,200 4,350 4,500 4,650 4,800 4,950 5,100 5,250
15.75% 4,140 4,300 4,460 4,620 4,780 4,940 5,100 5,260 5,420
16.00% 4,230 4,390 4,550 4,710 4,870 5,030 5,190 5,350 5,510
16.25% 4,330 4,490 4,650 4,810 4,970 5,130 5,290 5,450 5,610
16.50% 4,430 4,600 4,770 4,940 5,110 5,280 5,450 5,620 5,790
16.75% 4,530 4,700 4,870 5,040 5,210 5,380 5,550 5,720 5,890
17.00% 4,630 4,800 4,970 5,140 5,310 5,480 5,650 5,820 5,990
17.25% 4,740 4,920 5,100 5,280 5,460 5,640 5,820 6,000 6,180
17.50% 4,850 5,030 5,210 5,390 5,570 5,750 5,930 6,110 6,290
17.75% 4,960 5,150 5,340 5,530 5,720 5,910 6,100 6,290 6,480
18.00% 5,070 5,260 5,450 5,640 5,830 6,020 6,210 6,400 6,590
18.25% 5,190 5,380 5,570 5,760 5,950 6,140 6,330 6,520 6,710
18.50% 5,310 5,510 5,710 5,910 6,110 6,310 6,510 6,710 6,910
18.75% 5,430 5,630 5,830 6,030 6,230 6,430 6,630 6,830 7,030
19.00% 5,550 5,760 5,970 6,180 6,390 6,600 6,810 7,020 7,230
19.25% 5,680 5,890 6,100 6,310 6,520 6,730 6,940 7,150 7,360
19.50% 5,810 6,030 6,250 6,470 6,690 6,910 7,130 7,350 7,570
19.75% 5,940 6,160 6,380 6,600 6,820 7,040 7,260 7,480 7,700
20.00% 6,080 6,310 6,540 6,770 7,000 7,230 7,460 7,690 7,920
20.25% 6,220 6,450 6,680 6,910 7,140 7,370 7,600 7,830 8,060
20.50% 6,360 6,600 6,840 7,080 7,320 7,560 7,800 8,040 8,280
20.75% 6,510 6,750 6,990 7,230 7,470 7,710 7,950 8,190 8,430
21.00% 6,660 6,910 7,160 7,410 7,660 7,910 8,160 8,410 8,660
21.25% 6,810 7,070 7,330 7,590 7,850 8,110 8,370 8,630 8,890
21.50% 6,970 7,230 7,490 7,750 8,010 8,270 8,530 8,790 9,050
21.75% 7,130 7,400 7,670 7,940 8,210 8,480 8,750 9,020 9,290
22.00% 7,310 7,580 7,850 8,120 8,390 8,660 8,930 9,200 9,500
PANHANDLE BANK
Long-Term Incentive Program
Executive - JN
NUMBER OF SHARES
Asset Growth
-----------------------------------------------------------------------------------------------------------------
ROE 58.0% 60.0% 62.0% 64.0% 66.0% 68.0% 70.0% 72.0% 74.0% 76.0%
- ----- ----- ----- ----- ----- ----- ----- ----- ----- ----- -----
12.00% 1,360 1,450 1,540 1,630 1,720 1,810 1,900 1,990 2,080 2,170
12.25% 1,400 1,490 1,580 1,670 1,760 1,850 1,940 2,030 2,120 2,210
12.50% 1,430 1,530 1,630 1,730 1,830 1,930 2,030 2,130 2,230 2,330
12.75% 1,460 1,560 1,660 1,760 1,860 1,960 2,060 2,160 2,260 2,360
13.00% 1,490 1,590 1,690 1,790 1,890 1,990 2,090 2,190 2,290 2,390
13.25% 1,530 1,630 1,730 1,830 1,930 2,030 2,130 2,230 2,330 2,430
13.50% 1,570 1,670 1,770 1,870 1,970 2,070 2,170 2,270 2,370 2,470
13.75% 1,600 1,710 1,820 1,930 2,040 2,150 2,260 2,370 2,480 2,590
14.00% 1,640 1,750 1,860 1,970 2,080 2,190 2,300 2,410 2,520 2,630
14.25% 1,670 1,780 1,890 2,000 2,110 2,220 2,330 2,440 2,550 2,660
14.50% 1,710 1,820 1,930 2,040 2,150 2,260 2,370 2,480 2,590 2,700
14.75% 1,750 1,870 1,990 2,110 2,230 2,350 2,470 2,590 2,710 2,830
15.00% 1,790 1,910 2,030 2,150 2,270 2,390 2,510 2,630 2,750 2,870
15.25% 1,840 1,960 2,080 2,200 2,320 2,440 2,560 2,680 2,800 2,920
15.50% 1,880 2,010 2,140 2,270 2,400 2,530 2,660 2,790 2,920 3,050
15.75% 1,920 2,050 2,180 2,310 2,440 2,570 2,700 2,830 2,960 3,090
16.00% 1,960 2,090 2,220 2,350 2,480 2,610 2,740 2,870 3,000 3,130
16.25% 2,000 2,130 2,260 2,390 2,520 2,650 2,780 2,910 3,040 3,170
16.50% 2,050 2,190 2,330 2,470 2,610 2,750 2,890 3,030 3,170 3,310
16.75% 2,100 2,240 2,380 2,520 2,660 2,800 2,940 3,080 3,220 3,360
17.00% 2,150 2,290 2,430 2,570 2,710 2,850 2,990 3,130 3,270 3,410
17.25% 2,200 2,350 2,500 2,650 2,800 2,950 3,100 3,250 3,400 3,550
17.50% 2,240 2,390 2,540 2,690 2,840 2,990 3,140 3,290 3,440 3,590
17.75% 2,300 2,450 2,600 2,750 2,900 3,050 3,200 3,350 3,500 3,650
18.00% 2,350 2,510 2,670 2,830 2,990 3,150 3,310 3,470 3,630 3,790
18.25% 2,410 2,570 2,730 2,890 3,050 3,210 3,370 3,530 3,690 3,850
18.50% 2,460 2,620 2,780 2,940 3,100 3,260 3,420 3,580 3,740 3,900
18.75% 2,510 2,680 2,850 3,020 3,190 3,360 3,530 3,700 3,870 4,040
19.00% 2,570 2,740 2,910 3,080 3,250 3,420 3,590 3,760 3,930 4,100
19.25% 2,630 2,810 2,990 3,170 3,350 3,530 3,710 3,890 4,070 4,250
19.50% 2,690 2,870 3,050 3,230 3,410 3,590 3,770 3,950 4,130 4,310
19.75% 2,750 2,930 3,110 3,290 3,470 3,650 3,830 4,010 4,190 4,370
20.00% 2,810 3,000 3,190 3,380 3,570 3,760 3,950 4,140 4,330 4,520
20.25% 2,880 3,070 3,260 3,450 3,640 3,830 4,020 4,210 4,400 4,590
20.50% 2,950 3,150 3,350 3,550 3,750 3,950 4,150 4,350 4,550 4,750
20.75% 3,010 3,210 3,410 3,610 3,810 4,010 4,210 4,410 4,610 4,810
21.00% 3,080 3,290 3,500 3,710 3,920 4,130 4,340 4,550 4,760 4,970
21.25% 3,150 3,360 3,570 3,780 3,990 4,200 4,410 4,620 4,830 5,040
21.50% 3,220 3,440 3,660 3,880 4,100 4,320 4,540 4,760 4,980 5,200
21.75% 3,290 3,510 3,730 3,950 4,170 4,390 4,610 4,830 5,050 5,270
22.00% 3,380 3,600 3,820 4,040 4,260 4,480 4,700 4,920 5,140 5,360
Asset Growth
-----------------------------------------------------------------------------------------------------
ROE 78.0% 80.0% 82.0% 84.0% 86.0% 88.0% 90.0% 92.0% 94.0%
- ----- ----- ----- ----- ----- ----- ----- ----- ----- -----
12.00% 2,280 2,370 2,460 2,550 2,640 2,730 2,820 2,910 2,970
12.25% 2,330 2,420 2,510 2,600 2,690 2,780 2,870 2,960 3,050
12.50% 2,380 2,470 2,560 2,650 2,740 2,830 2,920 3,010 3,100
12.75% 2,430 2,520 2,610 2,700 2,790 2,880 2,970 3,060 3,150
13.00% 2,490 2,580 2,670 2,760 2,850 2,940 3,030 3,120 3,210
13.25% 2,550 2,650 2,750 2,850 2,950 3,050 3,150 3,250 3,350
13.50% 2,610 2,710 2,810 2,910 3,010 3,110 3,210 3,310 3,410
13.75% 2,670 2,770 2,870 2,970 3,070 3,170 3,270 3,370 3,470
14.00% 2,730 2,830 2,930 3,030 3,130 3,230 3,330 3,430 3,530
14.25% 2,790 2,890 2,990 3,090 3,190 3,290 3,390 3,490 3,590
14.50% 2,850 2,960 3,070 3,180 3,290 3,400 3,510 3,620 3,730
14.75% 2,920 3,030 3,140 3,250 3,360 3,470 3,580 3,690 3,800
15.00% 2,990 3,100 3,210 3,320 3,430 3,540 3,650 3,760 3,870
15.25% 3,060 3,170 3,280 3,390 3,500 3,610 3,720 3,830 3,940
15.50% 3,130 3,250 3,370 3,490 3,610 3,730 3,850 3,970 4,090
15.75% 3,200 3,320 3,440 3,560 3,680 3,800 3,920 4,040 4,160
16.00% 3,270 3,390 3,510 3,630 3,750 3,870 3,990 4,110 4,230
16.25% 3,340 3,470 3,600 3,730 3,860 3,990 4,120 4,250 4,380
16.50% 3,420 3,550 3,680 3,810 3,940 4,070 4,200 4,330 4,460
16.75% 3,500 3,630 3,760 3,890 4,020 4,150 4,280 4,410 4,540
17.00% 3,580 3,710 3,840 3,970 4,100 4,230 4,360 4,490 4,620
17.25% 3,660 3,800 3,940 4,080 4,220 4,360 4,500 4,640 4,780
17.50% 3,740 3,880 4,020 4,160 4,300 4,440 4,580 4,720 4,860
17.75% 3,830 3,970 4,110 4,250 4,390 4,530 4,670 4,810 4,950
18.00% 3,920 4,070 4,220 4,370 4,520 4,670 4,820 4,970 5,120
18.25% 4,010 4,160 4,310 4,460 4,610 4,760 4,910 5,060 5,210
18.50% 4,100 4,250 4,400 4,550 4,700 4,850 5,000 5,150 5,300
18.75% 4,190 4,350 4,510 4,670 4,830 4,990 5,150 5,310 5,470
19.00% 4,290 4,450 4,610 4,770 4,930 5,090 5,250 5,410 5,570
19.25% 4,390 4,550 4,710 4,870 5,030 5,190 5,350 5,510 5,670
19.50% 4,490 4,660 4,830 5,000 5,170 5,340 5,510 5,680 5,850
19.75% 4,590 4,760 4,930 5,100 5,270 5,440 5,610 5,780 5,950
20.00% 4,690 4,870 5,050 5,230 5,410 5,590 5,770 5,950 6,130
20.25% 4,800 4,980 5,160 5,340 5,520 5,700 5,880 6,060 6,240
20.50% 4,910 5,090 5,270 5,450 5,630 5,810 5,990 6,170 6,350
20.75% 5,020 5,210 5,400 5,590 5,780 5,970 6,160 6,350 6,540
21.00% 5,130 5,320 5,510 5,700 5,890 6,080 6,270 6,460 6,650
21.25% 5,250 5,450 5,650 5,850 6,050 6,250 6,450 6,650 6,850
21.50% 5,370 5,570 5,770 5,970 6,170 6,370 6,570 6,770 6,970
21.75% 5,490 5,700 5,910 6,120 6,330 6,540 6,750 6,960 7,170
22.00% 5,620 5,830 6,040 6,250 6,460 6,670 6,880 7,090 7,300
PANHANDLE BANK
Long-Term Incentive Program
Executive - CEO
NUMBER OF SHARES
Asset Growth
------------------------------------------------------------------------------------------------------------------
ROE 58.0% 60.0% 62.0% 64.0% 66.0% 68.0% 70.0% 72.0% 74.0% 76.0%
- ----- ------ ------ ------ ------ ------ ------ ------ ------ ------ ------
12.00% 5,030 5,360 5,690 6,020 6,350 6,680 7,010 7,340 7,670 8,000
12.25% 5,120 5,460 5,800 6,140 6,480 6,820 7,160 7,500 7,840 8,180
12.50% 5,240 5,590 5,940 6,290 6,640 6,990 7,340 7,690 8,040 8,390
12.75% 5,360 5,720 6,080 6,440 6,800 7,160 7,520 7,880 8,240 8,600
13.00% 5,480 5,850 6,220 6,590 6,960 7,330 7,700 8,070 8,440 8,810
13.25% 5,610 5,980 6,350 6,720 7,090 7,460 7,830 8,200 8,570 8,940
13.50% 5,740 6,120 6,500 6,880 7,260 7,640 8,020 8,400 8,780 9,160
13.75% 5,870 6,260 6,650 7,040 7,430 7,820 8,210 8,600 8,990 9,380
14.00% 6,000 6,400 6,800 7,200 7,600 8,000 8,400 8,800 9,200 9,600
14.25% 6,140 6,550 6,960 7,370 7,780 8,190 8,600 9,010 9,420 9,830
14.50% 6,280 6,700 7,120 7,540 7,960 8,380 8,800 9,220 9,640 10,060
14.75% 6,420 6,850 7,280 7,710 8,140 8,570 9,000 9,430 9,860 10,290
15.00% 6,560 7,000 7,440 7,880 8,320 8,760 9,200 9,640 10,080 10,520
15.25% 6,710 7,160 7,610 8,060 8,510 8,960 9,410 9,860 10,310 10,760
15.50% 6,870 7,330 7,790 8,250 8,710 9,170 9,630 10,090 10,550 11,010
15.75% 7,030 7,500 7,970 8,440 8,910 9,380 9,850 10,320 10,790 11,260
16.00% 7,190 7,670 8,150 8,630 9,110 9,590 10,070 10,550 11,030 11,510
16.25% 7,350 7,840 8,330 8,820 9,310 9,800 10,290 10,780 11,270 11,760
16.50% 7,520 8,020 8,520 9,020 9,520 10,020 10,520 11,020 11,520 12,020
16.75% 7,690 8,200 8,710 9,220 9,730 10,240 10,750 11,260 11,770 12,280
17.00% 7,870 8,390 8,910 9,430 9,950 10,470 10,990 11,510 12,030 12,550
17.25% 8,050 8,590 9,130 9,670 10,210 10,750 11,290 11,830 12,370 12,910
17.50% 8,230 8,780 9,330 9,880 10,430 10,980 11,530 12,080 12,630 13,180
17.75% 8,420 8,980 9,540 10,100 10,660 11,220 11,780 12,340 12,900 13,460
18.00% 8,610 9,180 9,750 10,320 10,890 11,460 12,030 12,600 13,170 13,740
18.25% 8,810 9,400 9,990 10,580 11,170 11,760 12,350 12,940 13,530 14,120
18.50% 9,010 9,610 10,210 10,810 11,410 12,010 12,610 13,210 13,810 14,410
18.75% 9,220 9,830 10,440 11,050 11,660 12,270 12,880 13,490 14,100 14,710
19.00% 9,430 10,060 10,690 11,320 11,950 12,580 13,210 13,840 14,470 15,100
19.25% 9,640 10,280 10,920 11,560 12,200 12,840 13,480 14,120 14,760 15,400
19.50% 9,860 10,520 11,180 11,840 12,500 13,160 13,820 14,480 15,140 15,800
19.75% 10,090 10,760 11,430 12,100 12,770 13,440 14,110 14,780 15,450 16,120
20.00% 10,320 11,010 11,700 12,390 13,080 13,770 14,460 15,150 15,840 16,530
20.25% 10,550 11,250 11,950 12,650 13,350 14,050 14,750 15,450 16,150 16,850
20.50% 10,790 11,510 12,230 12,950 13,670 14,390 15,110 15,830 16,550 17,270
20.75% 11,040 11,780 12,520 13,260 14,000 14,740 15,480 16,220 16,960 17,700
21.00% 11,290 12,040 12,790 13,540 14,290 15,040 15,790 16,540 17,290 18,040
21.25% 11,550 12,320 13,090 13,860 14,630 15,400 16,170 16,940 17,710 18,480
21.50% 11,810 12,600 13,390 14,180 14,970 15,760 16,550 17,340 18,130 18,920
21.75% 12,080 12,890 13,700 14,510 15,320 16,130 16,940 17,750 18,560 19,370
22.00% 12,380 13,200 14,020 14,840 15,660 16,480 17,300 18,120 18,940 19,760
Asset Growth
-------------------------------------------------------------------------------------------------------
ROE 78.0% 80.0% 82.0% 84.0% 86.0% 88.0% 90.0% 92.0% 94.0%
- ----- ------- ------ ------ ------ ------ ------ ------ ------ ------
12.00% 8,350 8,660 8,970 9,280 9,590 9,900 10,210 10,520 10,870
12.25% 8,540 8,860 9,180 9,500 9,820 10,140 10,460 10,780 11,100
12.50% 8,740 9,070 9,400 9,730 10,060 10,390 10,720 11,050 11,380
12.75% 8,940 9,280 9,620 9,960 10,300 10,640 10,980 11,320 11,660
13.00% 9,140 9,480 9,820 10,160 10,500 10,840 11,180 11,520 11,860
13.25% 9,350 9,700 10,050 10,400 10,750 11,100 11,450 11,800 12,150
13.50% 9,560 9,920 10,280 10,640 11,000 11,360 11,720 12,080 12,440
13.75% 9,780 10,150 10,520 10,890 11,260 11,630 12,000 12,370 12,740
14.00% 10,000 10,380 10,760 11,140 11,520 11,900 12,280 12,660 13,040
14.25% 10,230 10,610 10,990 11,370 11,750 12,130 12,510 12,890 13,270
14.50% 10,460 10,850 11,240 11,630 12,020 12,410 12,800 13,190 13,580
14.75% 10,700 11,100 11,500 11,900 12,300 12,700 13,100 13,500 13,900
15.00% 10,940 11,350 11,760 12,170 12,580 12,990 13,400 13,810 14,220
15.25% 11,190 11,610 12,030 12,450 12,870 13,290 13,710 14,130 14,550
15.50% 11,450 11,880 12,310 12,740 13,170 13,600 14,030 14,460 14,890
15.75% 11,710 12,150 12,590 13,030 13,470 13,910 14,350 14,790 15,230
16.00% 11,980 12,430 12,880 13,330 13,780 14,230 14,680 15,130 15,580
16.25% 12,250 12,710 13,170 13,630 14,090 14,550 15,010 15,470 15,930
16.50% 12,530 13,000 13,470 13,940 14,410 14,880 15,350 15,820 16,290
16.75% 12,820 13,300 13,780 14,260 14,740 15,220 15,700 16,180 16,660
17.00% 13,110 13,600 14,090 14,580 15,070 15,560 16,050 16,540 17,030
17.25% 13,410 13,910 14,410 14,910 15,410 15,910 16,410 16,910 17,410
17.50% 13,720 14,230 14,740 15,250 15,760 16,270 16,780 17,290 17,800
17.75% 14,030 14,560 15,090 15,620 16,150 16,680 17,210 17,740 18,270
18.00% 14,350 14,890 15,430 15,970 16,510 17,050 17,590 18,130 18,670
18.25% 14,680 15,230 15,780 16,330 16,880 17,430 17,980 18,530 19,080
18.50% 15,020 15,580 16,140 16,700 17,260 17,820 18,380 18,940 19,500
18.75% 15,360 15,940 16,520 17,100 17,680 18,260 18,840 19,420 20,000
19.00% 15,710 16,300 16,890 17,480 18,070 18,660 19,250 19,840 20,430
19.25% 16,070 16,670 17,270 17,870 18,470 19,070 19,670 20,270 20,870
19.50% 16,440 17,060 17,680 18,300 18,920 19,540 20,160 20,780 21,400
19.75% 16,820 17,450 18,080 18,710 19,340 19,970 20,600 21,230 21,860
20.00% 17,200 17,850 18,500 19,150 19,800 20,450 21,100 21,750 22,400
20.25% 17,590 18,250 18,910 19,570 20,230 20,890 21,550 22,210 22,870
20.50% 17,990 18,660 19,330 20,000 20,670 21,340 22,010 22,680 23,350
20.75% 18,400 19,090 19,780 20,470 21,160 21,850 22,540 23,230 23,920
21.00% 18,820 19,530 20,240 20,950 21,660 22,370 23,080 23,790 24,500
21.25% 19,250 19,970 20,690 21,410 22,130 22,850 23,570 24,290 25,010
21.50% 19,690 20,430 21,170 21,910 22,650 23,390 24,130 24,870 25,610
21.75% 20,140 20,900 21,660 22,420 23,180 23,940 24,700 25,460 26,220
22.00% 20,620 21,390 22,160 22,930 23,700 24,470 25,240 26,010 26,800