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EXHIBIT 10.1
GEORGETOWN SAVINGS BANK
INCENTIVE COMPENSATION PLAN
FISCAL 2009 GOALS
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Organizational Level:
Executive
Employee: Robert E.
Balletto
Incentive Target: $22,135
Title:
President and Chief Executive Officer
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MINIMUM THRESHOLD: The Bank
must achieve a Return on Assets ("ROA") equal
------------------ to 75% of
budget. Once this threshold has been met,
goals listed below will be eligible for payment.
Tier 1: Bank-wide
Performance
------------------------------
GOAL: #1: Profitability - Achieve ROA
--------
Annual Payout Percentage: 70% = $15,495
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Annual Payout
Annual Goals
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75% of budget = .16%
$ 5,165
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At budget = .21%
$10,330
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125% of budget = .26%
$15,495
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Stretch Goal
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Every .05% over .26%
$ 5,165
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Tier 2: Team
Performance
-------------------------
GOAL #2: Growth - Increase Total Net Commercial Loans
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Annual Payout Percentage: 10% = $2,214
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