Common use of Bonuses and Incentive Compensation Clause in Contracts

Bonuses and Incentive Compensation. The Executive shall be eligible to participate in an equitable manner with all other executive employees of the Employer and the Employer shall cause the Bank to allow the Executive to participate in an equitable manner with all other executive employees of the Bank in any bonus or other incentive programs as may be authorized, declared and paid by either the Board of Directors of the Employer or the Board of Directors of the Bank. No other compensation provided for in this Agreement shall be deemed a substitute for the Executive’s right to participate in such bonuses and incentive programs when and as declared by the Board of Directors of the Employer or the Board of Directors of the Bank. This provision shall not preclude the grant of any other bonus to the Executive as determined by the Board of Directors of the Employer or the Board of Directors of the Bank.

Bonuses and Incentive Compensation. The Executive shall be eligible to participate in an equitable manner with all other executive employees of the Employer and the Employer shall cause the Bank to allow the Executive to participate in an equitable manner with all other executive employees of the Bank in any bonus or other incentive programs as may be authorized, declared and paid by either the Board of Directors of the Employer or the Board of Directors of the Bank. No other compensation provided for in this Agreement shall be deemed a substitute for the Executive’s 's right to participate in such bonuses and incentive programs when and as declared by the Board of Directors of the Employer or the Board of Directors of the Bank. This provision shall not preclude the grant of any other bonus to the Executive as determined by the Board of Directors of the Employer or the Board of Directors of the Bank.