This excerpt taken from the BMTC DEF 14A filed Mar 17, 2009.
2008 Salary Decisions
At a January 2008 meeting, the committee met to determine the salary for the chief executive officer for 2008. The committee decided to increase Mr. Peters salary by 3.90% for 2008 and in doing so considered, in addition to those general factors set forth in the immediately preceding paragraph, the following material factors specific to Mr. Peters: increases in each of net income, wealth revenue, average loans, average deposits, the implementation of an open architecture investment platform, and his leadership and organizational skills.
In February 2008, Mr. Peters submitted his evaluation of the performance of the other named executive officers and gave his salary recommendations. Based on the general factors set forth above, Mr. Peters salary recommendations, and the performance of each named executive officer (including specific accomplishments which are elaborated further below), the committee made the following changes to the salaries of the named executive officers. The committee increased Mr. Smiths salary by 3.75% and in doing so considered the following material factors specific to Mr. Smith: the
Corporations timely and accurate financial reporting, evaluation of the Finance Division, organizational skills, management of the Asset Liability Committee, the Banks funding requirements, investor relations, his implementation of accounting development programs. The committee increased Ms. Gers salary by 3.85% and in doing so considered the following material factors specific to Ms. Gers: increased new account growth on both consumer and business accounts, developed a marketing program for the open architecture investment platform, managed her divisions expenses including reduction in overtime expense. The committee increased Mr. Keefers salary by 3.75% and in doing so considered the following material factors specific to Mr. Keefer: met budget income and expense goals for the Credit Division, increased average loan assets on a year over year basis, maintained 2007 charge off and delinquency amounts at acceptable levels, integrated all aspects of the leasing subsidiary operations into the Bank, continued implementation of the West Chester loan production office, attracted and retained high performance credit professionals. The committee increased Mr. Waschulls salary by 4.10% and in doing so considered the following material factors specific to Mr. Waschull: selected and implemented an open architecture investment platform system, enhanced the Wealth Management Division sales and marketing program, increased Wealth Division revenue.