GUILD MORTGAGE COMPANY
EXECUTIVE PERFORMANCE INCENTIVE PLAN
The purpose of the Performance Incentive Plan (“Plan”) is to provide performance-based incentives to participants for individual, departmental and/or company performance goals and to promote employee retention.
Whenever the following terms are used in the Plan, with their initial letter(s) capitalized, they shall have the meanings set forth below:
| (a) | “Incentive Payment” means any lump sum cash payment. |
| (b) | “Performance Period” is defined in Exhibit A and might be fiscal month, fiscal quarter or fiscal year. |
| (c) | “GUILD” means Guild Mortgage Company. |
| (d) | “Employee” means any person who is treated as an Employee by GUILD. |
| (e) | “Plan” means the Guild Mortgage Company Performance Incentive Plan, as amended from time to time. |
The Plan shall be effective as of January 1, 2017 and shall remain in effect for each fiscal year unless modified or terminated.
To be eligible for any incentive payment as a “Participant” in the Plan, an Employee must meet the qualifications of sub-paragraphs 1, 2, and 3 below, as well as any other eligibility requirements set forth in the Plan.
| 1. | The Employee must be classified as an active employee of GUILD. |
| 2. | The Employee must not be eligible to participate in any other annual performance incentive plan offered by GUILD. |
| 3. | The Employee must be performing at a satisfactory level at the time any Incentive Payment is scheduled to be made under the plan, as determined by the employee’s supervisor. |
E. | INCENTIVE DETERMINATION |
Subject to the eligibility requirements in Section D, a Participant may receive an Incentive Payment, if any, for performance achievement as specified in Exhibit A.
It is anticipated that Participants may receive an Incentive Payment, if any to be made, no later than 120 days following the end of the fiscal year for which the incentive payment is intended. The Incentive Payment will be a lump sum cash payment. No Participant has a vested right to any Incentive Payment under this Plan and no Incentive Payment will be considered earned until it is actually paid to the Participant.
Subject to the eligibility requirements in section D, if a Participant is promoted or demoted during the Performance Period to a position not covered by this Plan, determination of any Incentive Payment will be made at the end of the Performance Period and be subject to performance achievement while a Participant in the Plan.
Subject to the eligibility requirements in section D, If a Participant is on a leave of absence of any nature for more than four weeks
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