Common use of Bonus Programs Clause in Contracts

Bonus Programs. Executive shall be eligible to participate in all incentive plans (“Incentive Plans”) approved from time to time by the Board. Incentive targets and maximums that are set by the Board may increase or decrease based upon market data and/or other studies conducted by the Company and the Board, or based on the discretion of the Board. Subject to review by the FHFA (or successor agency), Executive’s target under an Incentive Plan that is effective for 2015 or any year thereafter will not be set lower than 75% of Base Salary except as a result of a Board decision affecting all executive officers covered by the Incentive Plan, such as a nondiscriminatory cost reduction plan applicable to the Company’s total compensation budget.

Bonus Programs. The Executive shall be eligible to participate in all incentive plans (“Incentive Plans”) approved from time to time by the Board. Incentive targets and maximums that are set by the Board may increase or decrease based upon market data and/or other studies conducted by the Company and the Board, or based on the discretion of the Board. Subject to review by the FHFA (or successor agency), the Executive’s target under an Incentive Plan that is effective for 2015 2014 or any year thereafter will not be set lower than 7560% of Base Salary except as a result of a Board board decision affecting all named executive officers covered by the Incentive Planofficers, such as a nondiscriminatory cost reduction plan applicable to the Company’s total compensation budget.

Bonus Programs. The Executive shall be eligible to participate in all incentive plans (“Incentive Plans”) approved from time to time by the Board. Incentive targets and maximums that are set by the Board may increase or decrease based upon market data and/or other studies conducted by the Company and the Board, or based on the discretion of the Board. Subject to review by the FHFA (or successor agency), the Executive’s target under an Incentive Plan that is effective for 2015 2018 or any year thereafter will not be set lower than 7560% of Base Salary except as a result of a Board board decision affecting all named executive officers covered by the Incentive Planofficers, such as a nondiscriminatory cost reduction plan applicable to the Company’s total compensation budget.

Bonus Programs. Executive shall be eligible to participate in all incentive plans (“Incentive Plans”) approved from time to time by the Board. Incentive targets and maximums that are set by the Board may increase or decrease based upon market data and/or other studies conducted by the Company and the Board, or based on the discretion of the Board. Subject to review by the FHFA (or successor agency), Executive’s target under an Incentive Plan that is effective for 2015 2020 or any year thereafter will not be set lower than 7585% of Base Salary except as a result of a Board decision affecting all executive officers covered by the Incentive Plan, such as a nondiscriminatory cost reduction plan applicable to the Company’s total compensation budget.

Bonus Programs. The Executive shall be eligible to participate in all incentive plans (“Incentive Plans”) approved from time to time by the Board. Incentive targets and maximums that are set by the Board may increase or decrease based upon market data and/or other studies conducted by the Company and the Board, or based on the discretion of the Board. Subject to review by the FHFA (or successor agency), the Executive’s target under an Incentive Plan that is effective for 2015 2016 or any year thereafter will not be set lower than 7560% of Base Salary except as a result of a Board decision affecting all named executive officers covered by the Incentive Planofficers, such as a nondiscriminatory cost reduction plan applicable to the Company’s total compensation budget.

Bonus Programs. Executive shall be eligible to participate in all incentive plans (“Incentive Plans”) approved from time to time by the Board. Incentive targets and maximums that are set by the Board may increase or decrease based upon market data and/or other studies conducted by the Company and the Board, or based on the discretion of the Board. Subject to review by the FHFA (or successor agency), Executive’s target under an Incentive Plan that is effective for 2015 2014 or any year thereafter will not be set lower than 75% of Base Salary except as a result of a Board decision affecting all executive officers covered by the Incentive Plan, such as a nondiscriminatory cost reduction plan applicable to the Company’s total compensation budget.

Bonus Programs. The Executive shall be eligible to participate in all incentive plans (“Incentive Plans”) approved from time to time by the Board. Incentive targets and maximums that are set by the Board may increase or decrease based upon market data and/or other studies conducted by the Company and the Board, or based on the discretion of the Board. Subject to review by the FHFA (or successor agency), the Executive’s target under an Incentive Plan that is effective for 2015 2013 or any year thereafter will not be set lower than 7560% of Base Salary except as a result of a Board board decision affecting all named executive officers covered by the Incentive Planofficers, such as a nondiscriminatory cost reduction plan applicable to the Company’s total compensation budget.