Common use of Incentive Bonus Plan Clause in Contracts

Incentive Bonus Plan. For 1998 and subsequent years, it is VPI's intent to develop a written Incentive Bonus Plan (which may be VPI's Incentive Bonus Plan) setting forth the criteria under which Employee and other officers and key employees will be eligible to receive year-end bonus awards. VPI contemplates that the maximum bonus for which Employee may be eligible will be 50% of Employee's base salary.

Incentive Bonus Plan. For 1998 and subsequent years, it is VPI's intent to develop a written Incentive Bonus Plan (which may be VPI's Incentive Bonus Plan) setting forth the criteria under which Employee and other officers and key employees will be eligible to receive year-end bonus awards. VPI contemplates that the maximum bonus for which Employee may be eligible will be 50100% of Employee's base salary.