Common use of Circuit Breaker Clause in Contracts

Circuit Breaker. Bank, in its discretion, through the Compensation Committee, may decide that there will be no payout in a given year until the level of net income (as reported in the Corporation’s financial statements) earned from each business is at least $2 million (or whatever level as determined by the Compensation Committee of the Corporation).

Circuit Breaker. Bank, in its discretion, through the Compensation Committee, may decide that there will be no payout in a given year until the level of net income (as reported in the Corporation’s financial statements) earned from each business is at least $2 million (or whatever the level as determined in the future by the Compensation Committee Board of the Corporation).