EX-10.1
from 8-K
2 pages
Position: Chairman & CEO of CPF; Executive Chairman of Cpb Position Reports To: CPF/Cpb Board of Directors Annual Salary: $562,500, Less Applicable Withholdings Start Date: October 1, 2018 Annual Incentive Opportunity: You Will Be Eligible to Participate in the Annual Incentive Plan (Icp) With a Target Opportunity of 75% of Annual Base Salary and Payout Based on Achievement of Corporate Goals and Individual Performance. Annual Long Term Equity Grant: You Will Be Eligible to Participate in the Annual Long Term Incentive Plan (Lti) With a Target Opportunity of 80% of Annual Base Salary With Vesting Based Achievement of a MIX of Pre-Determined Corporate Goals and Time. One-Time Equity Grant: You Will Receive a One-Time Grant of CPF Stock in the Form of Restricted Stock Units (Rsus) Valued at $1,000,000. This Grant Will Be Made on February 15, 2019. the Rsu’s Will Vest Over Three Years With 1/3rd Vesting With Time and 2/3rd Vesting With a MIX of Predetermined Corporate Goals. Granting of These Shares Is Subject to Approval of the Board Compensation Committee. Benefits: You May Participate in Our Standard Employee Benefit Package, Including Medical, Dental, Life Insurance, Long Term Disability, Flex Spending Accounts, and Paid Holidays, Upon Completion of Any Eligibility Requirements. In
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