Common use of Annual Incentive Payment or Bonus Clause in Contracts

Annual Incentive Payment or Bonus. In addition to the Annual Base Salary, the Executive shall be paid, for each fiscal year ending during the Employment Period (ratably apportioned in the case of any fiscal year which is not included within the Employment Period in its entirety), an annual incentive payment or bonus (the "Annual Incentive Payment") in cash on the same basis as such incentive payments or bonuses are paid to other Peer Executives. For example, if annual incentive payments are created for other Peer Executives, the target award for the Executive shall be established in the same manner as the target award for the other Peer Executives (e.g. by reference to a percentile target based on comparative market data) and the performance criteria and performance measurements governing any payment earned by Executive shall be based on the same performance criteria (such as earnings per share or return of average capital employed) and performance measurements applied to the other Peer Executives. Notwithstanding the foregoing, if the payment of a bonus to other Peer Executives is, in whole or part, not based on objective performance criteria, Executive's Annual Incentive Payment shall be at least equal to the average of Executive's Annual Incentive Payments for the last two full fiscal years prior to the Effective Date or, if Executive was not in the employment of the Company during any portion of such two full fiscal years, Executive's target Annual Incentive Payment for the fiscal year in which the Effective Date occurred (such amount being herein referred to as the "Recent Annual Incentive Payment"). Special or one-time awards (such as those associated with a new hire or promotion or relocation bonuses) shall not be taken into account when computing the Recent Annual Incentive Payment. During the Employment Period, the Executive's annual target incentive or bonus opportunity shall in no event be less favorable to the Executive than that provided by the Company to the Executive under its annual incentive or bonus plans during the fiscal year in which the Effective Date occurred, provided that any special or one time awards (such as those associated with a new hire or promotion or relocation bonuses) shall not be taken into account. Each such Annual Incentive Payment shall be paid no later than the end of the third month of the fiscal year next following the fiscal year in respect of which the Annual Incentive Payment is awarded, unless the Executive shall elect to defer the receipt of such Annual Incentive Payment.

Annual Incentive Payment or Bonus. In addition to the Annual Base Salary, the Executive shall be paid, for each fiscal year ending during the Employment Period (ratably apportioned in the case of any fiscal year which is not included within the Employment Period in its entiretybut which does not end within the Employment Period), an annual incentive payment or bonus (the "Annual Incentive Payment") in cash on the same basis as such incentive payments or bonuses are paid to other Peer Executivespeer executives. For example, if annual incentive payments are created for paid to other Peer Executivespeer executives under the Company's annual incentive plan, the target award for the Executive shall be established in the same manner as the target award for the other Peer Executives peer executives (e.g. by reference to a percentile target based on comparative market data) and the performance criteria and performance measurements governing any payment earned by Executive shall be based on the same performance criteria (such as earnings per share or return of average capital employed) and performance measurements applied to the other Peer Executivespeer executives. Notwithstanding the foregoing, (a) if the payment of a bonus to other Peer Executives peer executives is, in whole or part, not based on objective performance criteria, Executive's Annual Incentive Payment shall be at least equal to the average of Executive's Annual Incentive Payments for the last two three full fiscal years prior to the Effective Date or, if Executive was not in the employment of the Company or its Affiliates during any portion one or more of such two the last three full fiscal years, the average of Executive's target Annual Incentive Payment for Payments during the number of full fiscal year in which years prior to the Effective Date occurred that the Executive was so employed (annualized, in either case, in the event that the Executive was not employed by the Company for the whole of any such amount being herein referred to as the "Recent Annual Incentive Payment"fiscal year). Special , provided that any special or one-time awards (such as those associated with a new hire or promotion or relocation bonusespromotion) shall not be taken into account when computing (the "Recent Annual Incentive Payment. During the Employment Period, ") and (b) the Executive's annual target incentive or bonus opportunity shall in no event be less favorable to the Executive than that provided by the Company and its Affiliates to the Executive under its annual incentive or bonus plans during the last fiscal year in which immediately preceding the Effective Date occurredDate, provided that any special or one time awards (such as those associated with a new hire or promotion or relocation bonusespromotion) shall not be taken into account. Each such Annual Incentive Payment shall be paid no later than the end of the third month of the fiscal year next following the fiscal year in respect of for which the Annual Incentive Payment is awarded, unless the Executive shall elect to defer the receipt of such Annual Incentive Payment.

Annual Incentive Payment or Bonus. In addition to the Annual Base Salary, the Executive shall be paid, for each fiscal year ending during the Employment Period (ratably apportioned in the case of any fiscal year which is not included within the Employment Period in its entiretybut which does not end within the Employment Period), an annual incentive payment or bonus (the "Annual Incentive Payment") in cash on the same basis as such incentive payments or bonuses are paid to other Peer Executivespeer executives. For example, if annual incentive payments are created for paid to other Peer Executivespeer executives under the Company's annual incentive plan, the target award for the Executive shall be established in the same manner as the target award for the other Peer Executives peer executives (e.g. e.g., by reference to a percentile target based on comparative market data) and the performance criteria and performance measurements governing any payment earned by Executive shall be based on the same performance criteria (such as earnings per share or return of on average capital employed) and performance measurements applied to the other Peer Executivespeer executives. Notwithstanding the foregoing, if the payment of a bonus to other Peer Executives peer executives is, in whole or part, not based on objective performance criteria, Executive's Annual Incentive Payment shall be at least equal to the greater of (a) the average of Executive's Annual Incentive Payments for the last two three full fiscal years prior to the Effective Date or, if Executive was not in the employment of the Company or its Affiliates during any portion one or more of such two the last three full fiscal years, the average of Executive's target Annual Incentive Payment for Payments during the number of full fiscal year in which years prior to the Effective Date occurred that the Executive was so employed (annualized, in either case, in the event that the Executive was not employed by the Company for the whole of any such amount being herein referred to as the "Recent Annual Incentive Payment"fiscal year). Special , provided that any special or one-time awards (such as those associated with a new hire or promotion or relocation bonusespromotion) shall not be taken into account when computing the Recent Annual Incentive Payment. During the Employment Period, and (b) the Executive's annual target incentive or bonus opportunity shall as in no event be less favorable to effect under the Executive than that provided by the Company to the Executive under its Company's annual incentive or bonus plans during the last fiscal year in which immediately preceding the Effective Date occurredDate, provided that any special or one time awards (such as those associated with a new hire or promotion or relocation bonusespromotion) shall not be taken into accountaccount (such greater amount being hereinafter referred to as the "Recent Annual Incentive Payment"). Each such Annual Incentive Payment shall be paid no later than the end of the third month of the fiscal year next following the fiscal year in respect of for which the Annual Incentive Payment is awarded, unless the Executive shall elect to defer the receipt of such Annual Incentive Payment.

Annual Incentive Payment or Bonus. In addition to the Annual Base Salary, the Executive shall be paid, for each fiscal year ending during the Employment Period (ratably apportioned in the case of any fiscal year which is not included within the Employment Period in its entiretybut which does not end within the Employment Period), an annual incentive payment or bonus (the "“Annual Incentive Payment"”) in cash on the same basis as such incentive payments or bonuses are paid to other Peer Executivespeer executives. For example, if annual incentive payments are created for paid to other Peer Executivespeer executives under the Company’s annual incentive plan, the target award for the Executive shall be established in the same manner as the target award for the other Peer Executives peer executives (e.g. e.g., by reference to a percentile target based on comparative market data) and the performance criteria and performance measurements governing any payment earned by Executive shall be based on the same performance criteria (such as earnings per share or return of on average capital employed) and performance measurements applied to the other Peer Executivespeer executives. Notwithstanding the foregoing, if the payment of a bonus to other Peer Executives peer executives is, in whole or part, not based on objective performance criteria, Executive's ’s Annual Incentive Payment shall be at least equal to the greater of (a) the average of Executive's ’s Annual Incentive Payments for the last two three full fiscal years prior to the Effective Date or, if Executive was not in the employment of the Company or its Affiliates during any portion one or more of such two the last three full fiscal years, the average of Executive's target ’s Annual Incentive Payment for Payments during the number of full fiscal year in which years prior to the Effective Date occurred that the Executive was so employed (annualized, in either case, in the event that the Executive was not employed by the Company for the whole of any such amount being herein referred to as the "Recent Annual Incentive Payment"fiscal year). Special , provided that any special or one-time awards (such as those associated with a new hire or promotion or relocation bonusespromotion) shall not be taken into account when computing the Recent Annual Incentive Payment. During the Employment Period, and (b) the Executive's ’s annual target incentive or bonus opportunity shall as in no event be less favorable to effect under the Executive than that provided by the Company to the Executive under its Company’s annual incentive or bonus plans during the last fiscal year in which immediately preceding the Effective Date occurredDate, provided that any special or one time awards (such as those associated with a new hire or promotion or relocation bonusespromotion) shall not be taken into accountaccount (such greater amount being hereinafter referred to as the “Recent Annual Incentive Payment”). Each such Annual Incentive Payment shall be paid no later than the end of the third month of the fiscal year next following the fiscal year in respect of for which the Annual Incentive Payment is awarded, unless the Executive shall elect to defer the receipt of such Annual Incentive Payment.

Annual Incentive Payment or Bonus. In addition to the Annual Base Salary, the Executive shall be paid, for each fiscal year ending during the Employment Period (ratably apportioned in the case of any fiscal year which is not included within the Employment Period in its entiretybut which does not end within the Employment Period), an annual incentive payment or bonus (the "Annual Incentive Payment") in cash on the same basis as such incentive payments or bonuses are paid to other Peer Executivespeer executives. For example, if annual incentive payments are created for paid to other Peer Executivespeer executives under the Company's annual incentive plan, the target award for the Executive shall be established in the same manner as the target award for the other Peer Executives peer executives (e.g. by reference to a percentile target based on comparative market data) and the performance criteria and performance measurements governing any payment earned by Executive shall be based on the same performance criteria (such as earnings per share or return of average capital employed) and performance measurements applied to the other Peer Executivespeer executives. Notwithstanding the foregoing, (a) if the payment of a bonus to other Peer Executives peer executives is, in whole or part, not based on objective performance criteria, Executive's Annual Incentive Payment shall be at least equal to the average of Executive's Annual Incentive Payments for the last two three full fiscal years prior to the Effective Date or, if the Executive was not in the employment of the Company or its Affiliates during any portion one or more of such two the last three full fiscal years, the average of Executive's target Annual Incentive Payment for Payments during the number of full fiscal year in which years prior to the Effective Date occurred that the Executive was so employed (annualized, in either case, in the event that the Executive was not employed by the Company for the whole of any such amount being herein referred to as the "Recent Annual Incentive Payment"fiscal year). Special , provided that any special or one-time awards (such as those associated with a new hire or promotion or relocation bonusespromotion) shall not be taken into account when computing (the "Recent Annual Incentive Payment. During the Employment Period, ") and (b) the Executive's annual target incentive or bonus opportunity shall in no event be less favorable to the Executive than that provided by the Company and its Affiliates to the Executive under its annual incentive or bonus plans during the last fiscal year in which immediately preceding the Effective Date occurredDate, provided that any special or one time awards (such as those associated with a new hire or promotion or relocation bonusespromotion) shall not be taken into account. Each such Annual Incentive Payment shall be paid no later than the end of the third month of the fiscal year next following the fiscal year in respect of for which the Annual Incentive Payment is awarded, unless the Executive shall elect to defer the receipt of such Annual Incentive Payment.

Annual Incentive Payment or Bonus. In addition to the Annual Base Salary, the Executive shall be paid, for each fiscal year ending during the Employment Period (ratably apportioned in the case of any fiscal year which is not included within the Employment Period in its entirety), an annual incentive payment or bonus (the "Annual Incentive Payment") in cash on the same basis as such incentive payments or bonuses are paid to other Peer Executives. For example, if annual incentive payments are created for other Peer Executives, the target award for the Executive shall be established in the same manner as the target award for the other Peer Executives (e.g. by reference to a percentile target based on comparative market data) and the performance criteria and performance measurements governing any payment earned by Executive shall be based on the same performance criteria (such as earnings per share or return of average capital employed) and performance measurements applied to the other Peer Executives. Notwithstanding the foregoing, if the payment of a bonus to other Peer Executives is, in whole or part, not based on objective performance criteria, Executive's Annual Incentive Payment shall be at least equal to the average of Executive's Annual Incentive Payments for the last two full fiscal years prior to the Effective Date or, if Executive was not in the employment of the Company during any portion of such two full fiscal years, Executive's target Annual Incentive Payment for the fiscal year in which the Effective Date occurred (such amount being herein referred to as the "Recent Annual Incentive Payment"). Special or one-time awards (such as those associated with a new hire or promotion or relocation bonuses) shall not be taken into account when computing the Recent Annual Incentive Payment. During the Employment Period, the Executive's annual target incentive or bonus opportunity shall in no event be less favorable to the Executive than that provided by the Company to the Executive under its annual incentive or bonus plans during the fiscal year in which the Effective Date occurred, provided that any special or one time awards (such as those associated with a new hire or promotion or relocation bonuses) shall not be taken into account. Each such Annual Incentive Payment shall be paid no later than the end of the third month of the fiscal year next following the fiscal year in respect of which the Annual Incentive Payment is awarded, unless the Executive shall elect to defer the receipt of such Annual Incentive Payment.