Common use of Incentive Stock Compensation Clause in Contracts

Incentive Stock Compensation. During Employee’s employment under this Agreement, Company shall cause Employee to be eligible to participate in an incentive stock plan as may be maintained by Company from time to time, in whole or in part, for employees of his level. Employee’s awards under such plan shall be determined by the administrator of the plan, the vesting for which shall be accelerated in the event of a Change in Control as defined herein. The specific terms and conditions of these options shall be set out in a stock option agreement between Employee and Company. The grant of stock options shall not be construed to constitute or to be evidence of a commitment or guarantee to renew this Agreement or to employ or retain Employee for any period of time inconsistent with Sections 4 and 5 of this Agreement.