Common use of Cash Incentive Compensation Clause in Contracts

Cash Incentive Compensation. On or before April 1 of each year, the Committee shall recommend to the Company Board the amount, if any, that shall be awarded to all senior executives (including Executive) of the Company who are eligible to participate in the cash incentive compensation program. The Committee shall recommend to the Company Board the cash award, if any, to be paid to Executive up to a maximum of 100% of Executive's Base Salary. The amounts available for distribution under the Company's cash incentive compensation program shall take into account Company financial and operating results. The incentive compensation amount awarded to Executive shall be weighted evenly between Company performance and individual performance to reward both cooperative management efforts to attain Company objectives and individual achievement. Fifty percent of the cash incentive compensation available to Executive shall be based on Company performance and 50% shall be based on the individual performance of Executive. Company performance shall be measured subjectively by the Committee with input from the CEO. The Committee shall evaluate individual performance of the Executive with input from the CEO. The cash incentive compensation, if paid, will be paid to Executive in a lump sum in April of each year.