Common use of ANNUAL CASH INCENTIVE AWARD Clause in Contracts

ANNUAL CASH INCENTIVE AWARD. During the Employment Term, the Executive shall be entitled to participate in all long-term and short-term incentive programs established by the Company for its senior level executives generally. Specifically, the Executive shall be entitled to participate in the annual cash incentive program of the Company. Effective as of March 1, 2004, under such program, the Executive shall be eligible to receive an annual bonus targeted at 100% of the Executive’s annual base pay, or such higher percentage as the Board may, in its discretion, determine. The Board shall also have similar discretion to determine any Pro-Rated Annual Bonus pursuant to Section 11(a)(ii), 11(b)(iii), 11(d)(ii) and 11(g)(ii). The target bonus shall be subject to certain conditions, including without limitation multipliers, that are consistent with the annual bonus plan applicable to other senior executives of the Company.

ANNUAL CASH INCENTIVE AWARD. During the Employment Term, the Executive shall be entitled to participate in all long-term and short-term incentive programs established by the Company for its senior level executives generally. Specifically, the Executive shall be entitled to participate in the annual cash incentive program of the Company. Effective as of March 1, 2004, under such program, the Executive shall be eligible to receive an annual bonus targeted at 10060% of the Executive’s annual base pay, or such higher percentage as the Board may, in its discretion, determine. The Board shall also have similar discretion to determine any Pro-Rated Annual Bonus pursuant to Section 11(a)(ii10(a)(ii), 11(b)(iii10(b)(iii), 11(d)(ii10(d)(ii) and 11(g)(ii10(g)(ii). The target bonus shall be subject to certain conditions, including without limitation multipliers, that are consistent with the annual bonus plan applicable to other senior executives of the Company.