Bonus and Options. Subject to the rules and regulations applicable thereto, the Corporation shall provide for Employee's participation in any option, incentive employee benefit plans or compensation programs administered by the Corporation or the Bank or under its direction, including any employee bonus plans as may presently exist or are to be placed into effect after the date hereof.
Appears in 3 contracts
Samples: Employment Agreement (North Country Financial Corp), Employment Agreement (North Country Financial Corp), Employment Agreement (North Country Financial Corp)
Bonus and Options. (a) Subject to the rules and regulations applicable thereto, the Corporation shall provide for Employee's participation in any option, incentive employee benefit plans or compensation programs administered by the Corporation or the Bank or under its direction, including any employee bonus plans as may presently exist or are to be placed into effect after the date hereof.
(b) Corporation shall negotiate in good faith an Incentive Bonus Plan applicable to Employee and other key officers of the Corporation, effective as of calendar year 2002.
Appears in 1 contract
Samples: Employment Agreement (Southern Michigan Bancorp Inc)
