Annual Incentive Payment. In addition to other compensation to be paid under this Section 4, each year during the Employment Period the Employee shall be eligible to receive an annual incentive payment (the “Annual Incentive Payment”), which shall not be less than 12.5% of Base Salary. The amount actually awarded and paid to the Employee each year will be determined by the Compensation Committee and may be based on specific performance criteria to be identified under a separate communication. Any payments made under this section shall be paid no later than March 15 of the following calendar year.
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Sources: Employment Agreement (Southside Bancshares Inc), Employment Agreement (Southside Bancshares Inc), Employment Agreement (Southside Bancshares Inc)
Annual Incentive Payment. In addition to other compensation to be paid under this Section 4, each year during the Employment Period the Employee shall be eligible to receive an annual incentive payment (the “Annual Incentive Payment”), which shall not be less than 12.5% of Base Salary. The amount actually awarded and paid to the Employee each year will be determined by the Compensation Committee and may be based on specific performance criteria to be identified under a separate communication. Any payments made under this section shall be paid no later than March 15 of the following calendar year.
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