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FBIZ > SEC Filings for FBIZ > Form 8-K on 29-Jan-2014All Recent SEC Filings

Show all filings for FIRST BUSINESS FINANCIAL SERVICES, INC.

Form 8-K for FIRST BUSINESS FINANCIAL SERVICES, INC.


29-Jan-2014

Change in Directors or Principal Officers, Financial Stat


Item 5.02 Departure of Directors or Certain Officers; Election of
Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

On January 24, 2014 the Board of Directors of First Business Financial Services, Inc. (the "Company") approved an amendment (the "Amendment") to the Company's Annual Incentive Bonus Plan (the "Plan"). Prior to the Amendment, the Plan provided that First Business Financial Services, Inc., First Business Bank (exclusive of First Business Capital Corp., First Business Factors, First Business Equipment Finance, LLC and First Business Trust & Investments), First Business Bank - Milwaukee and First Business Bank - Northeast use three equally weighted performance measures: (1) return on assets; (2) core earnings; (3) analyzed service charges (net of waives). Prior to the Amendment, the Plan additionally provided for the following performance measures: First Business Capital Corp. would use the following three equally weighted performance measures: (1) return on assets; (2) core earnings; (3) net income; First Business Factors would use the following two equally weighted performance measures: (1) return on assets and (2) core earnings; First Business Equipment Finance, LLC would use the following two equally weighted performance measures:
(1) net revenue and (2) credit quality and First Business Trust & Investments would use the following three equally weighted performance measures: (1) core earnings; (2) revenue from new assets under management from existing clients;
(3) revenue from new assets under management from new clients. The Amendment changed the performance measures as follows: First Business Financial Services, Inc., First Business Bank (exclusive of First Business Capital Corp., First Business Factors, First Business Equipment Finance, LLC and First Business Trust & Investments), First Business Bank - Milwaukee and First Business Bank - Northeast will use the following three equally weighted performance measures: (1) return on assets; (2) top line revenue; (3) analyzed service charges (net of waives). First Business Capital Corp. and First Business Factors will use the following three equally weighted performance measures: (1) return on assets; (2) top line revenue; (3) net income. First Business Equipment Finance, LLC will use the following two equally weighted performance measures:
(1) top line revenue and (2) credit quality. First Business Trust & Investments will use the following three equally weighted performance measures: (1) top line revenue; (2) revenue from new assets under management from existing clients; (3) revenue from new assets under management from new clients. The foregoing description of the Plan, as amended, is qualified in its entirety to the full text of the Plan, as amended, a copy of which is filed herewith as Exhibit 10.1 and is incorporated herein by reference.



Item 9.01. Financial Statements and Exhibits.

(a) Not applicable

(b) Not applicable

(c) Not applicable

(d) Exhibits. The following exhibit is filed herewith:

(10.1) First Business Financial Services, Inc. Annual Incentive Bonus Plan, as amended.

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