EX-10.7
Winchester Bancorp, Inc./MD/
WINCHESTER SAVINGS BANK
ANNUAL INCENTIVE PLAN
Article 1 -
PURPOSE AND EFFECTIVE DATE
This Winchester Savings BankAnnual Incentive Plan("Plan" or “AIP”) was adopted by the Board of Trustees of Winchester Savings Bank (“Bank”) for the benefit of eligible participants effective January 1, 2025. Each Performance Period (as defined below), there is an aggregate bonus pool, which is the sum of the individual target Award opportunities for all Employees (“Aggregate Bonus Pool”). After the end of the Performance Period, the Compensation Committee of the Board of Trustees of the Bank (“Committee”), in consultation with the President & CEO, determines the percentage of the Aggregate Bonus Pool that will be paid out for the applicable Performance Period (if any), based on the Bank’s satisfaction of the performance goals established for each applicable Performance Period, as compared to target. The percentage of the Aggregate Bonus Pool that will be distributed as Awards to Participants will be between 0% and 150% of target. Individual Participant Award opportunities are presented as a per
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