LNB Bancorp, Inc.
2007 CEO Short-Term Incentive Plan
Section I. PURPOSE
The LNB Bancorp, Inc. 2007 CEO Short-Term Incentive Plan is designed to reward the CEO with incentive compensation
payments for achieving profitability goals and subjective goals.
Section II. DEFINITIONS
The following terms, as used in this Plan, shall mean:
Section III. ELIGIBILITY
The CEO of Lorain National Bank is eligible to participate in this Plan. The Committee has the authority, in its discretion, to
designate the CEO who will participate in this Plan during the Plan year.
Section IV. AMOUNT OF INCENTIVE PAYMENT
Subject to the other terms of this Plan, the amount of the Incentive Payment earned by the CEO under this Plan will be
determined based on Employer’s actual Profitability achievement for the Plan year relative to the percentage of the Profitability
Goal, a percentage of up to 75% of the CEO’s base salary, and on other terms as determined, interpreted and established in the
sole discretion of the Committee.
Section V. OTHER INCENTIVE PAYMENT TERMS
Employer will pay the CEO the Incentive Payment on the Incentive Payment Date provided the CEO is an active employee of
Employer on that date. The amount of the Incentive Payment, if any, shall be calculated as provided in Section IV of this Plan.
Deductions may also be made at the discretion of Employer and in accordance with applicable law for any amounts the CEO
owes to Employer.
A. Committee . The Compensation Committee of the Board of Directors of LNB Bancorp, Inc., or such other committee as
such Board may designate.
Employer or Lorain National Bank . LNB Bancorp, Inc., its subsidiaries and affiliates.
Employment Agreement . The Employment Agreement, dated as of January 28, 2005, by and among Daniel E. Klimas, LNB
Bancorp, Inc. and The Lorain National Bank.
Plan year . January 1, 2007 through December 31, 2007.
Plan . The LNB Bancorp, Inc. 2007 CEO Short-Term Incentive Plan.