PRIVATE BANKING REFERRAL CONTEST
APRIL 1 - OCTOBER 31, 2021
PAYOUT DETERMINATION The contest is evaluated based on referred, enrolled Private Banking clients. To be considered enrolled, the client must open and maintain a Premier Elite Checking or Premier Money Market account and satisfy one of the criteria below: - $50,000 in consumer balances - $150,000 in combined consumer deposits and consumer loan outstandings (non-mortgage) • A Lead Link for PWM – Private Banking must be submitted to be eligible for enrollment credit • In the event the referrer is not the Relationship Owner, Division Management will review and decide which employee will receive credit • Only one employee is eligible to receive credit for a Private Banking enrollment
MAXIMUM PAYOUTS The maximum individual payout under this plan is $5,000.
DESIGNATION OF PERFORMANCE PERIODS, FORM AND TIMING OF PAYMENTS Campaign runs from April 1, 2021 through October 31, 2021. Payments under the plan will be made to participants through the normal payroll process as soon as administratively feasible after the close of the campaign. Prizes are subject to applicable taxes and/or any other Federal, State, Local and/or court ordered deductions and withholdings. Payments will be reported as earnings on the participant’s year end W2 form. PAYMENTS UPON TERMINATION FOR DEATH, DISABILITY, RETIREMENT OR SEPARATION RELATED TO STAFF REDUCTIONS: Forfeiture — Termination of employment due to death, permanent disability, normal or early retirement or separation under any applicable staff reduction program, will result in forfeiture of any payment under this plan during the most recent performance period. PAYMENTS UPON TERMINATION FOR ANY OTHER REASON: Forfeiture — Termination of a participant’s employment for any reason other than death, permanent disability, normal or early retirement or separation under any applicable staff reduction program, will result in forfeiture of any payment under this plan during the most recent performance period.
RISK IDENTIFICATION Enterprise Risk Management and Business Leadership have determined that the Participants in this incentive plan expose the Company to the following types of risk:
• Sales Practice/Conduct • Operational • Reputational
• Credit • Legal • Compliance
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