Common use of Incentive and Retention Programs Clause in Contracts

Incentive and Retention Programs. Employee shall be eligible for an annual discretionary incentive bonus. The amount of the bonus for a given year shall be determined by Employer’s Board of Directors annually by January 31st of each following year and shall be paid no later than February 28th of each following year, provided Employee is still employed by Employer on the payment date. Employee shall be entitled to participate in the “Farmers & Merchants Bank of Central California Executive Retirement Plan – Equity Component”, “Farmers & Merchants Bank of Central California Executive Retirement Plan – Performance Component” and the “Farmers & Merchants Bank Deferred Compensation Plan”, the terms and conditions of which are set forth in separate agreements so titled.

Incentive and Retention Programs. Employee shall be eligible for an annual discretionary incentive bonus. The amount of the bonus for a given year shall be determined by Employerthe Bank’s Board of Directors annually by January March 31st of each following year and shall be paid no later than February 28th April 15th of each following year, provided Employee is still employed by Employer the Bank on the payment date. Employee shall be entitled to participate in the “Farmers & Merchants Bank of Central California Executive Retirement Plan – Equity Component”, “Farmers & Merchants Bank of Central California Executive Retirement Plan – Performance Component” and the “Farmers & Merchants Bank Deferred Compensation Plan”, the terms and conditions of which are set forth in separate agreements so titled.

Incentive and Retention Programs. Employee shall be eligible for an annual discretionary incentive bonus. The amount of the bonus for a given year shall be determined by Employerthe Bank’s Board of Directors annually by January March 31st of each following year and shall be paid no later than February 28th April 15th of each following year, provided Employee is still employed by Employer the Bank on the payment date. For the year 2014, said bonus shall not be less than $100,000. Employee shall be entitled to participate in the “Farmers & Merchants Bank of Central California Executive Retirement Plan – Equity Component”, “Farmers & Merchants Bank of Central California Executive Retirement Plan – Performance Component” and the “Farmers & Merchants Bank Deferred Compensation Plan”, the terms and conditions of which are set forth in separate agreements so titled.