E*TRADE FINANCIAL CORPORATION EXECUTIVE BONUS PLAN

Exhibit 10.67

E*TRADE FINANCIAL CORPORATION

EXECUTIVE BONUS PLAN

(EFFECTIVE MARCH 30, 2005)

I. PURPOSES

The purposes of this Executive Bonus Plan (the “Plan”) are: (a) to provide greater incentive for senior executives (defined for the purposes of this Plan to refer to those individuals designated as “Section 16 Officers” and executives referred to internally as members of the “Officer Team” or the equivalent) to exert their best efforts on behalf of E*TRADE Financial Corporation (the “Company”) by rewarding them for services rendered with compensation that is in addition to their regular salaries; (b) to attract and retain persons of outstanding competence; and (c) to further the alignment of interests of employees with those of shareholders through a strong performance-based reward system.

II. FORM OF AWARDS

Incentive compensation awards under this Plan payable to the Company’s senior executives shall be generally granted in cash, less any applicable withholding taxes; provided that the Compensation Committee of the Board of Directors (the “Committee”) may determine that all or a portion of any award may be paid in equity based incentive, including without limitation stock options, restricted shares, or outright grants of Company stock.

III. DETERMINATION OF AWARDS

Incentive awards for participants, including the Chief Executive Officer, shall be determined annually according to Performance Metrics established in the first 90 days of each year by the Compensation Committee of the Company’s Board of Directors (the “Board