<SEC-DOCUMENT>0000743367-15-000002.txt : 20150122
<SEC-HEADER>0000743367-15-000002.hdr.sgml : 20150122
<ACCEPTANCE-DATETIME>20150122163232
ACCESSION NUMBER:		0000743367-15-000002
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20150122
ITEM INFORMATION:		Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers
FILED AS OF DATE:		20150122
DATE AS OF CHANGE:		20150122

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			BAR HARBOR BANKSHARES
		CENTRAL INDEX KEY:			0000743367
		STANDARD INDUSTRIAL CLASSIFICATION:	STATE COMMERCIAL BANKS [6022]
		IRS NUMBER:				010393663
		STATE OF INCORPORATION:			ME
		FISCAL YEAR END:			1122

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-13349
		FILM NUMBER:		15542268

	BUSINESS ADDRESS:	
		STREET 1:		82 MAIN ST
		STREET 2:		PO BOX 400
		CITY:			BAR HARBOR
		STATE:			ME
		ZIP:			04609-0400
		BUSINESS PHONE:		2072883314

	MAIL ADDRESS:	
		STREET 1:		82 MAIN ST
		STREET 2:		PO BOX 400
		CITY:			BAR HARBOR
		STATE:			ME
		ZIP:			04609-0400
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>bhb2015compensationplan.htm
<TEXT>
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<TITLE>2011 Compensation Plan 8K (00962750).DOC</TITLE>
<META NAME="date" CONTENT="01/22/2015">
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<DIV style="width:624px"><P style="margin:0px; font-size:11pt" align=center><B>UNITED STATES</B></P>
<P style="margin:0px; font-size:11pt" align=center><B>SECURITIES AND EXCHANGE COMMISSION</B></P>
<P style="margin:0px; font-size:11pt" align=center><B>Washington, D.C. &nbsp;20549</B></P>
<P style="margin:0px" align=center><BR></P>
<P style="margin:0px" align=center><BR></P>
<P style="margin:0px; font-size:11pt" align=center><B>FORM 8-K</B></P>
<P style="margin:0px" align=center><BR></P>
<P style="margin:0px" align=center><BR></P>
<P style="margin:0px; font-size:11pt" align=center><B>Current Report Pursuant</B></P>
<P style="margin:0px; font-size:11pt" align=center><B>to Section 13 or 15(d) of the</B></P>
<P style="margin:0px; font-size:11pt" align=center><B>Securities Exchange Act of 1934</B></P>
<P style="margin:0px" align=center><BR></P>
<P style="margin:0px" align=center><BR></P>
<P style="margin:0px; font-size:11pt" align=center>Date of Report (Date of earliest event reported): January 22, 2015</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-size:11pt" align=center><B>BAR HARBOR BANKSHARES</B></P>
<P style="margin:0px; font-size:11pt" align=center>(Exact name of registrant as specified in its charter)</P>
<P style="margin:0px" align=center><BR></P>
<P style="margin:0px" align=center><BR></P>
</DIV><TABLE style="margin-top:0px; font-size:10pt" cellpadding=0 cellspacing=0><TR height=0 style="font-size:0"><TD width=212.8 /><TD width=212.8 /><TD width=212.8 /></TR>
<TR><TD style="margin-top:0px" valign=top width=212.8><P style="margin:0px; font-size:11pt" align=center><B>Maine</B></P>
<P style="margin:0px; font-size:11pt" align=center>(State or other jurisdiction</P>
<P style="margin:0px; font-size:11pt" align=center>of incorporation)</P>
</TD><TD style="margin-top:0px" valign=top width=212.8><P style="margin:0px; font-size:11pt" align=center><B>001-13349</B></P>
<P style="margin:0px; font-size:11pt" align=center>(Commission </P>
<P style="margin:0px; font-size:11pt" align=center>File Number)</P>
</TD><TD style="margin-top:0px" valign=top width=212.8><P style="margin:0px; font-size:12pt" align=center><B>01-0393663</B></P>
<P style="margin:0px; font-size:12pt" align=center>(IRS Employer</P>
<P style="margin:0px; font-size:12pt" align=center>Identification No.)</P>
</TD></TR>
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<DIV style="width:624px"><P style="margin:0px"><BR></P>
<P style="margin:0px"><BR></P>
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<TR><TD style="margin-top:0px" valign=top width=385.2><P style="margin:0px; font-size:12pt"><B>P.O. Box 400, 82 Main Street, Bar Harbor, ME</B></P>
<P style="margin:0px; font-size:12pt">(Address of principal executive offices)</P>
</TD><TD style="margin-top:0px" valign=top width=253.2><P style="margin:0px; font-size:12pt" align=center><B>04609-0400</B></P>
<P style="margin:0px; font-size:12pt" align=center>(Zip code)</P>
</TD></TR>
</TABLE>
<DIV style="width:624px"><P style="margin:0px"><BR></P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-size:12pt" align=center>Registrant&#146;s telephone number, including area code: &nbsp;<B>(207) 288-3314</B>&nbsp;</P>
<P style="margin:0px" align=center><BR></P>
<P style="margin:0px" align=center><BR></P>
<P style="margin:0px; font-size:12pt" align=center><B>Not Applicable</B></P>
<P style="margin:0px; font-size:12pt" align=center>(Former name or former address, if changed since last report)</P>
<P style="margin:0px" align=justify><BR></P>
<P style="margin:0px" align=justify><BR></P>
<P style="margin:0px; font-size:11pt">Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below): </P>
<P style="margin:0px; font-size:11pt">&nbsp;</P>
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<TR><TD style="margin-top:0px" valign=top width=42.067><P style="margin:0px; font-size:11pt"><font style='font-family:Arial Unicode MS,Times New Roman'>&#9744;</font></P>
</TD><TD style="margin-top:0px" valign=top><P style="margin:0px; font-size:11pt">Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) </P>
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</TD><TD style="margin-top:0px" valign=top><P style="margin:0px; font-size:11pt">Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) </P>
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<TR><TD style="margin-top:0px" valign=top width=42.067><P style="margin:0px; font-size:11pt"><font style='font-family:Arial Unicode MS,Times New Roman'>&#9744;</font></P>
</TD><TD style="margin-top:0px" valign=top><P style="margin:0px; font-size:11pt">Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) </P>
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<P style="margin:0px; font-size:11pt">&nbsp;</P>
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<TR><TD style="margin-top:0px" valign=top width=42.067><P style="margin:0px; font-size:11pt"><font style='font-family:Arial Unicode MS,Times New Roman'>&#9744;</font></P>
</TD><TD style="margin-top:0px" valign=top><P style="margin:0px; font-size:11pt">Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))</P>
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<P style="margin:0px"><BR></P>
<P style="margin:6.667px"><BR>
<BR></P>
<P style="margin-top:6.667px; margin-bottom:6.667px; font-size:12pt; page-break-before:always"><B>TABLE OF CONTENTS</B></P>
<TABLE style="margin-top:0px; font-size:10pt" cellpadding=0 cellspacing=0><TR height=0 style="font-size:0"><TD width=385.2 /><TD width=66 /></TR>
<TR><TD style="margin-top:0px" valign=top width=385.2><P style="margin:0px; font-size:12pt">Item 5.02 <FONT style="font-size:11pt">Departure of Directors or Certain Officers; </FONT></P>
<P style="margin:0px; font-size:11pt">Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.</P>
</TD><TD style="margin-top:0px" valign=top width=66><P style="margin:0px; font-size:12pt">Page 3</P>
</TD></TR>
<TR><TD style="margin-top:0px" valign=top width=385.2><P style="margin:0px; padding:0px; font-size:12pt">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=66><P style="margin:0px; padding:0px; font-size:12pt">&nbsp;</P></TD></TR>
<TR><TD style="margin-top:0px" valign=top width=385.2><P style="margin:0px; font-size:12pt">Signatures</P>
</TD><TD style="margin-top:0px" valign=top width=66><P style="margin:0px; font-size:12pt">Page 5</P>
</TD></TR>
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<P style="margin:6.667px"><BR></P>
<P style="margin:0px"><BR>
<BR></P>
<P style=page-break-before:always;margin-top:0;margin-bottom:-4pt;font-size:4pt /><P style="margin-top:0px; margin-bottom:-2px; width:96px; font-size:11pt; float:left"><B>Item 5.02.</B></P>
<P style="margin:0px; text-indent:-2px; font-size:11pt"><B>Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.</B></P>
<P style="margin:0px; clear:left"><BR></P>
<P style="margin:0px; font-size:11pt">(e) &nbsp;Compensatory Arrangements for Certain Officers.</P>
<P style="margin:0px; font-size:11pt">&nbsp;&nbsp;</P>
<P style="margin:0px; font-size:11pt">On January 20, 2015 the Board of Directors of Bar Harbor Bankshares (the &#147;Company&#148;), upon the recommendation of the Company&#146;s Compensation Committee, which, among other things, reviews and approves incentive plans for executive officers, approved the 2015 Annual Incentive Plan (the &#147;Plan&#148;) and designated target awards for fiscal year 2015 (calculated as a percentage of base salary) for certain executive officers of the Company and its wholly owned first tier bank and second tier trust company subsidiaries, including the Company&#146;s named executive officers. </P>
<P style="margin:0px"><BR></P>
<P style="margin-top:0px; margin-bottom:7.333px; font-size:11pt">The Plan focuses on rewards for the achievement of specific goals that we believe are critical to the growth and profitability of the Company. The principal objectives of the plan are to:</P>
<P style="margin-top:0px; margin-bottom:-2px; text-indent:24px; width:48px; font-family:Symbol; font-size:11pt; float:left">&#183;</P>
<P style="margin-top:0px; margin-bottom:7.333px; padding-left:48px; text-indent:-2px; font-size:11pt">Focus executive attention on key business metrics;</P>
<P style="margin-top:0px; margin-bottom:-2px; text-indent:24px; width:48px; font-family:Symbol; font-size:11pt; clear:left; float:left">&#183;</P>
<P style="margin-top:0px; margin-bottom:7.333px; padding-left:48px; text-indent:-2px; font-size:11pt">Align compensation with organizational and individual performance;</P>
<P style="margin-top:0px; margin-bottom:-2px; text-indent:24px; width:48px; font-family:Symbol; font-size:11pt; clear:left; float:left">&#183;</P>
<P style="margin-top:0px; margin-bottom:7.333px; padding-left:48px; text-indent:-2px; font-size:11pt">Encourage teamwork and collaboration across all areas of the Company to drive improved business results;</P>
<P style="margin-top:0px; margin-bottom:-2px; text-indent:24px; width:48px; font-family:Symbol; font-size:11pt; clear:left; float:left">&#183;</P>
<P style="margin-top:0px; margin-bottom:7.333px; padding-left:48px; text-indent:-2px; font-size:11pt">Motivate and reward the achievement of specific, measurable performance objectives;</P>
<P style="margin-top:0px; margin-bottom:-2px; text-indent:24px; width:48px; font-family:Symbol; font-size:11pt; clear:left; float:left">&#183;</P>
<P style="margin-top:0px; margin-bottom:7.333px; padding-left:48px; text-indent:-2px; font-size:11pt">Provide competitive total cash compensation;</P>
<P style="margin-top:0px; margin-bottom:-2px; text-indent:24px; width:48px; font-family:Symbol; font-size:11pt; clear:left; float:left">&#183;</P>
<P style="margin-top:0px; margin-bottom:7.333px; padding-left:48px; text-indent:-2px; font-size:11pt">Provide significant rewards for achieving and exceeding performance results; and</P>
<P style="margin-top:0px; margin-bottom:-2px; text-indent:24px; width:48px; font-family:Symbol; font-size:11pt; clear:left; float:left">&#183;</P>
<P style="margin:0px; padding-left:48px; text-indent:-2px; font-size:11pt">Enable the Company to attract and retain the talent needed to drive success.</P>
<P style="margin:0px; clear:left"><BR></P>
<P style="margin:0px; font-size:11pt">In order for the Plan to activate, the Company must achieve a net income trigger. The performance period and Plan operate on a calendar year basis (January 1<SUP>st</SUP> to December 31<SUP>st</SUP>). &nbsp;</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-size:11pt">The table below summarizes the incentive ranges for the 2015 Plan year as a percentage of base salary payout for the Company&#146;s named executive officers. </P>
<P style="margin:0px"><BR></P>
<TABLE style="margin-top:0px; font-size:10pt" cellpadding=0 cellspacing=0><TR height=0 style="font-size:0"><TD width=217.2 /><TD width=84 /><TD width=108 /><TD width=96 /><TD width=118.133 /></TR>
<TR><TD style="margin-top:0px; background-color:#FFC000; border:1px solid #000000" valign=bottom width=217.2><P style="margin:0px" align=center><B>2015 Short-Term Incentive Targets</B></P>
</TD><TD style="margin-top:0px; background-color:#FFC000; border-top:1px solid #000000; border-right:1px solid #000000; border-bottom:1px solid #000000" valign=bottom width=84><P style="margin:0px" align=center><B>Below Threshold</B></P>
</TD><TD style="margin-top:0px; background-color:#FFC000; border-top:1px solid #000000; border-right:1px solid #000000; border-bottom:1px solid #000000" valign=bottom width=108><P style="margin:0px" align=center><B>Threshold </B></P>
<P style="margin:0px" align=center><B>(50% of Target)</B></P>
</TD><TD style="margin-top:0px; background-color:#FFC000; border-top:1px solid #000000; border-right:1px solid #000000; border-bottom:1px solid #000000" valign=bottom width=96><P style="margin:0px" align=center><B>Target (100%)</B></P>
</TD><TD style="margin-top:0px; background-color:#FFC000; border-top:1px solid #000000; border-right:1px solid #000000; border-bottom:1px solid #000000" valign=bottom width=118.133><P style="margin:0px" align=center><B>Stretch </B></P>
<P style="margin:0px" align=center><B>(150%) of Target</B></P>
</TD></TR>
<TR><TD style="margin-top:0px; border-left:1px solid #000000; border-right:1px solid #000000; border-bottom:1px solid #000000" valign=top width=217.2><P style="margin:0px">Curtis S. Simard, &nbsp;</P>
<P style="margin:0px">President and CEO</P>
</TD><TD style="margin-top:0px; border-right:1px solid #000000; border-bottom:1px solid #000000" valign=top width=84><P style="margin:0px" align=center><BR></P>
<P style="margin:0px" align=center>0%</P>
</TD><TD style="margin-top:0px; border-right:1px solid #000000; border-bottom:1px solid #000000" valign=top width=108><P style="margin:0px" align=center><BR></P>
<P style="margin:0px" align=center>19.00%</P>
</TD><TD style="margin-top:0px; border-right:1px solid #000000; border-bottom:1px solid #000000" valign=top width=96><P style="margin:0px" align=center><BR></P>
<P style="margin:0px" align=center>38.00%</P>
</TD><TD style="margin-top:0px; border-right:1px solid #000000; border-bottom:1px solid #000000" valign=top width=118.133><P style="margin:0px" align=center><BR></P>
<P style="margin:0px" align=center>57.00%</P>
</TD></TR>
<TR><TD style="margin-top:0px; border-left:1px solid #000000; border-right:1px solid #000000; border-bottom:1px solid #000000" valign=top width=217.2><P style="margin:0px">Gerald Shencavitz, </P>
<P style="margin:0px">Executive Vice President and CFO</P>
</TD><TD style="margin-top:0px; border-right:1px solid #000000; border-bottom:1px solid #000000" valign=top width=84><P style="margin:0px" align=center><BR></P>
<P style="margin:0px" align=center>0%</P>
</TD><TD style="margin-top:0px; border-right:1px solid #000000; border-bottom:1px solid #000000" valign=top width=108><P style="margin:0px" align=center><BR></P>
<P style="margin:0px" align=center>14.00%</P>
</TD><TD style="margin-top:0px; border-right:1px solid #000000; border-bottom:1px solid #000000" valign=top width=96><P style="margin:0px" align=center><BR></P>
<P style="margin:0px" align=center>28.00%</P>
</TD><TD style="margin-top:0px; border-right:1px solid #000000; border-bottom:1px solid #000000" valign=top width=118.133><P style="margin:0px" align=center><BR></P>
<P style="margin:0px" align=center>42.00%</P>
</TD></TR>
<TR><TD style="margin-top:0px; border-left:1px solid #000000; border-right:1px solid #000000; border-bottom:1px solid #000000" valign=top width=217.2><P style="margin:0px">Richard B. Maltz, </P>
<P style="margin:0px">Executive Vice President &nbsp;</P>
<P style="margin:0px">and Chief Risk Officer</P>
</TD><TD style="margin-top:0px; border-right:1px solid #000000; border-bottom:1px solid #000000" valign=top width=84><P style="margin:0px" align=center><BR></P>
<P style="margin:0px" align=center>0%</P>
</TD><TD style="margin-top:0px; border-right:1px solid #000000; border-bottom:1px solid #000000" valign=top width=108><P style="margin:0px" align=center><BR></P>
<P style="margin:0px" align=center>12.50%</P>
</TD><TD style="margin-top:0px; border-right:1px solid #000000; border-bottom:1px solid #000000" valign=top width=96><P style="margin:0px" align=center><BR></P>
<P style="margin:0px" align=center>25.00%</P>
</TD><TD style="margin-top:0px; border-right:1px solid #000000; border-bottom:1px solid #000000" valign=top width=118.133><P style="margin:0px" align=center><BR></P>
<P style="margin:0px" align=center>37.50%</P>
</TD></TR>
<TR><TD style="margin-top:0px; border-left:1px solid #000000; border-right:1px solid #000000; border-bottom:1px solid #000000" valign=top width=217.2><P style="margin:0px">Gregory W. Dalton, </P>
<P style="margin:0px">Executive Vice President </P>
<P style="margin:0px">Business Banking </P>
</TD><TD style="margin-top:0px; border-right:1px solid #000000; border-bottom:1px solid #000000" valign=top width=84><P style="margin:0px" align=center><BR></P>
<P style="margin:0px" align=center>0%</P>
</TD><TD style="margin-top:0px; border-right:1px solid #000000; border-bottom:1px solid #000000" valign=top width=108><P style="margin:0px" align=center><BR></P>
<P style="margin:0px" align=center>12.50%</P>
</TD><TD style="margin-top:0px; border-right:1px solid #000000; border-bottom:1px solid #000000" valign=top width=96><P style="margin:0px" align=center><BR></P>
<P style="margin:0px" align=center>25.00%</P>
</TD><TD style="margin-top:0px; border-right:1px solid #000000; border-bottom:1px solid #000000" valign=top width=118.133><P style="margin:0px" align=center><BR></P>
<P style="margin:0px" align=center>37.50%</P>
</TD></TR>
<TR><TD style="margin-top:0px; border-left:1px solid #000000; border-right:1px solid #000000; border-bottom:1px solid #000000" valign=top width=217.2><P style="margin:0px">Stephen M. Leackfeldt, </P>
<P style="margin:0px">Executive Vice President, </P>
<P style="margin:0px">Retail Banking and Operations </P>
</TD><TD style="margin-top:0px; border-right:1px solid #000000; border-bottom:1px solid #000000" valign=top width=84><P style="margin:0px" align=center><BR></P>
<P style="margin:0px" align=center>0%</P>
</TD><TD style="margin-top:0px; border-right:1px solid #000000; border-bottom:1px solid #000000" valign=top width=108><P style="margin:0px" align=center><BR></P>
<P style="margin:0px" align=center>12.50%</P>
</TD><TD style="margin-top:0px; border-right:1px solid #000000; border-bottom:1px solid #000000" valign=top width=96><P style="margin:0px" align=center><BR></P>
<P style="margin:0px" align=center>25.00%</P>
</TD><TD style="margin-top:0px; border-right:1px solid #000000; border-bottom:1px solid #000000" valign=top width=118.133><P style="margin:0px" align=center><BR></P>
<P style="margin:0px" align=center>37.50%</P>
</TD></TR>
</TABLE>
<P style="margin:0px"><BR></P>
<P style="margin:0px"><BR></P>
<P style="margin:0px"><BR></P>
<P style="margin:0px"><BR></P>
<P style="margin:0px"><BR>
<BR></P>
<P style="margin:0px; font-size:11pt; page-break-before:always">Plan team performance goals are based on net income and efficiency ratio measures. &nbsp;In addition each participant has two to four individual goals that focus on either departmental or team performance such as lending growth, deposits growth, or asset quality measures. &nbsp;&nbsp;The mix of these goals varies by role. &nbsp;</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-size:11pt">In addition to the mix of a net income and an efficiency ratio measure, Mr. Simard has an asset quality matrix measure. &nbsp;&nbsp;In addition to the overall team measures, Mr. Shencavitz&#146;s model includes measures based on investment income and investment yield measured against peers. The awards to Messrs. Maltz, Dalton and Leackfeldt include the two team goals along with loan and the asset quality matrix measure. &nbsp;Mr. Dalton and Mr. Leackfeldt have a deposit growth measure and, in addition, Mr. Leackfeldt has a deposit rate measure.</P>
<P style="margin:0px"><BR></P>
<P style="margin-top:0px; margin-bottom:7.333px; font-size:11pt" align=justify>The table below provides guidelines for the allocation of participant&#146;s incentives for each performance component<I> </I></P>
<TABLE style="margin-top:0px; font-size:10pt" cellpadding=0 cellspacing=0><TR height=0 style="font-size:0"><TD width=267.067 /><TD width=170.933 /><TD width=168 /></TR>
<TR><TD style="margin-top:0px; background-color:#FFC000; border:1px solid #000000" valign=bottom width=267.067><P style="margin:0px; font-size:11pt" align=center><B>Position</B></P>
</TD><TD style="margin-top:0px; background-color:#FFC000; border-top:1px solid #000000; border-right:1px solid #000000; border-bottom:1px solid #000000" valign=bottom width=170.933><P style="margin:0px; font-size:11pt" align=center><B>BHB/Team &nbsp;Performance</B></P>
</TD><TD style="margin-top:0px; background-color:#FFC000; border-top:1px solid #000000; border-right:1px solid #000000; border-bottom:1px solid #000000" valign=bottom width=168><P style="margin:0px; font-size:11pt" align=center><B>Individual</B></P>
<P style="margin:0px; font-size:11pt" align=center><B>Performance</B></P>
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<TR><TD style="margin-top:0px; border-left:1px solid #000000; border-right:1px solid #000000; border-bottom:1px solid #000000" width=267.067><P style="margin:0px; font-size:11pt">Curtis S. Simard. President &amp; CEO</P>
</TD><TD style="margin-top:0px; border-right:1px solid #000000; border-bottom:1px solid #000000" width=170.933><P style="margin:0px; font-size:11pt" align=center>75%</P>
</TD><TD style="margin-top:0px; border-right:1px solid #000000; border-bottom:1px solid #000000" width=168><P style="margin:0px; font-size:11pt" align=center>25%</P>
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<TR><TD style="margin-top:0px; border-left:1px solid #000000; border-right:1px solid #000000; border-bottom:1px solid #000000" width=267.067><P style="margin:0px; font-size:11pt">Gerald Shencavitz, EVP and CFO</P>
</TD><TD style="margin-top:0px; border-right:1px solid #000000; border-bottom:1px solid #000000" width=170.933><P style="margin:0px; font-size:11pt" align=center>70%</P>
</TD><TD style="margin-top:0px; border-right:1px solid #000000; border-bottom:1px solid #000000" width=168><P style="margin:0px; font-size:11pt" align=center>30%</P>
</TD></TR>
<TR><TD style="margin-top:0px; border-left:1px solid #000000; border-right:1px solid #000000; border-bottom:1px solid #000000" width=267.067><P style="margin:0px; font-size:11pt">Richard B. Maltz, EVP</P>
</TD><TD style="margin-top:0px; border-right:1px solid #000000; border-bottom:1px solid #000000" width=170.933><P style="margin:0px; font-size:11pt" align=center>50%</P>
</TD><TD style="margin-top:0px; border-right:1px solid #000000; border-bottom:1px solid #000000" width=168><P style="margin:0px; font-size:11pt" align=center>50%</P>
</TD></TR>
<TR><TD style="margin-top:0px; border-left:1px solid #000000; border-right:1px solid #000000; border-bottom:1px solid #000000" width=267.067><P style="margin:0px; font-size:11pt">Gregory W. Dalton, EVP &nbsp;</P>
</TD><TD style="margin-top:0px; border-right:1px solid #000000; border-bottom:1px solid #000000" width=170.933><P style="margin:0px; font-size:11pt" align=center>30%</P>
</TD><TD style="margin-top:0px; border-right:1px solid #000000; border-bottom:1px solid #000000" width=168><P style="margin:0px; font-size:11pt" align=center>70%</P>
</TD></TR>
<TR><TD style="margin-top:0px; border-left:1px solid #000000; border-right:1px solid #000000; border-bottom:1px solid #000000" width=267.067><P style="margin:0px; font-size:11pt">Stephen M. Leackfeldt, EVP</P>
</TD><TD style="margin-top:0px; border-right:1px solid #000000; border-bottom:1px solid #000000" width=170.933><P style="margin:0px; font-size:11pt" align=center>55%</P>
</TD><TD style="margin-top:0px; border-right:1px solid #000000; border-bottom:1px solid #000000" width=168><P style="margin:0px; font-size:11pt" align=center>45%</P>
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<P style="margin-top:0px; margin-bottom:7.333px" align=justify><BR></P>
<P style="margin-top:0px; margin-bottom:7.333px; font-size:11pt" align=justify>The Company has developed the Plan based on existing business, market and economic conditions. &nbsp;If substantial changes occur that affect these conditions, the Company may add to, amend, modify or discontinue any of the terms or conditions of the Plan at any time. &nbsp;The Compensation Committee may, at its sole discretion, waive, change or amend the Plan, as it deems appropriate.</P>
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<P style="margin-top:0px; margin-bottom:14.667px; font-size:11pt; page-break-before:always" align=center><B>SIGNATURES</B></P>
<P style="margin-top:0px; margin-bottom:14.667px; text-indent:48px; font-size:11pt" align=justify>Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.</P>
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<TR><TD style="margin-top:0px" valign=top width=319.2><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=319.2><P style="margin:0px; font-size:11pt" align=justify>BAR HARBOR BANKSHARES</P>
<P style="margin:0px; font-size:11pt" align=justify>(Registrant)</P>
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<TR><TD style="margin-top:0px" valign=top width=319.2><P style="margin:0px; padding:0px; font-size:11pt">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=319.2><P style="margin:0px; padding:0px; font-size:11pt">&nbsp;</P></TD></TR>
<TR><TD style="margin-top:0px" valign=top width=319.2><P style="margin:0px; padding:0px; font-size:11pt">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=319.2><P style="margin:0px; padding:0px; font-size:11pt">&nbsp;</P></TD></TR>
<TR><TD style="margin-top:0px" valign=top width=319.2><P style="margin:0px; font-size:11pt" align=right>By:</P>
</TD><TD style="margin-top:0px; border-bottom:1px solid #000000" valign=top width=319.2><P style="margin:0px; font-size:11pt" align=justify>/s/ Marsha C. Sawyer</P>
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<TR><TD style="margin-top:0px" valign=top width=319.2><P style="margin:0px; padding:0px; font-size:11pt">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=319.2><P style="margin:0px; font-size:11pt" align=justify>Name: Marsha C. Sawyer</P>
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<TR><TD style="margin-top:0px" valign=top width=319.2><P style="margin:0px; padding:0px; font-size:11pt">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=319.2><P style="margin:0px; font-size:11pt" align=justify>Title: &nbsp;&nbsp;Corporate Clerk </P>
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<P style="margin:0px; font-size:11pt">Date: &nbsp;January 22, 2015</P>
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