THREE YEAR INCENTIVE PLAN
FOR THE THREE CONSECUTIVE FISCAL YEAR PERIODS
ENDING MAY 31, 2008
(amended July 12, 2006)
This Plan and subsequent Plans are created for these reasons:
A rolling three years beginning June 1, 2005.
Participants are recommended by management for Board approval and listed in Section 8 of the Plan document.
statements of fiscal years included in a performance period, rounded to the nearest one-tenth (1/10) of one percent
(1%). A fiscal year’s “average shareholder’s equity” is the average of its four (4) fiscal quarters. A “quarter’s
average” is the sum of the beginning and ending balances divided by two.
If a payment is made under any three-year incentive plan, it will consist of two parts: the Award Percentage and
Discretionary Performance Award.
A. To create an interest (focus) for Plan participants that mirrors the interest of the Company’s shareholders.
B. Focus Plan participants on medium-term growth and profitability.
C. Provide an opportunity for participants to accumulate estate building capital.
D. Provide an incentive necessary to retain and recruit top-quality executives.
A. The Compensation Committee of the Board of Directors approves the Plan.
B. The President and Chief Executive Officer and Chief Financial Officer, together, have the authority to add or delete
acquired or divested operations to incentive plans and make minor adjustments to reflect the spirit and objectives of
the Plan. Such changes will be reported to the Compensation Committee of the Board of Directors.
5. MINIMUM AWARD HURDLE:
A. Achievement of an award is dependent on attainment of a three (3) year consolidated average return-on-equity (ROE)
equal to or greater than twelve percent (12%).
B. Average return on equity for each performance period means the a