Common use of Levels of Awards Clause in Contracts

Levels of Awards. XXXX Awards are granted with two levels. The first level, Level 1, is a cash bonus payment based on achievement of Earnings that the Committee has no discretion to reduce. XXXX Payments earned under Level 1 will be earned solely with reference to Earnings attained during the Performance Period. The second level, Level 2, is a cash bonus payment based on level of attainment of Operational Goals that the Committee has the Negative Discretion to reduce. The Committee’s judgment in exercising its Negative Discretion to arrive at a XXXX Payment under Level 2 is expected to be guided by the degree to which the Corporation generally or the participating key executives in particular have attained predetermined Operational Goals. The Committee is expected to review the level of attainment of Operational Goals with the Chief Executive Officer of the Corporation before exercising any Negative Discretion. For the 2006-2008, the 2007-2009 the 2008-2010, 2009-2011, 2010-2012, 2011-2013 and the 2012-2014 Performance Period, the Committee has established the Participant Retention Achievement Bank under Section 8.04.

Levels of Awards. XXXX Awards are granted with two levels. The first level, Level 1, is a cash bonus payment based on achievement of Earnings that the Committee has no discretion to reduce. XXXX Payments earned under Level 1 will be earned solely with reference to Earnings attained during the Performance Period. The second level, Level 2, is a cash bonus payment based on level of attainment of Operational Goals that the Committee has the Negative Discretion to reduce. The Committee’s judgment in exercising its Negative Discretion to arrive at a XXXX Payment under Level 2 is expected to be guided by the degree to which the Corporation generally or the participating key executives in particular have attained predetermined Operational Goals. The Committee is expected to review the level of attainment of Operational Goals with the Chief Executive Officer of the Corporation before exercising any Negative Discretion. For the 2006-2008, the 2007-2009 the 2008-2010, 2009-2011, 2011 and the 2010-2012, 2011-2013 and the 2012-2014 2012 Performance Period, the Committee has established the Participant Retention Achievement Bank under Section 8.04.

Levels of Awards. XXXX Awards are granted with two levels. The first level, Level 1, is a cash bonus payment based on achievement of Earnings that the Committee has no discretion to reduce. XXXX Payments earned under Level 1 will be earned solely with reference to Earnings attained during the Performance Period. The second level, Level 2, is a cash bonus payment based on level of attainment of Operational Goals that the Committee has the Negative Discretion to reduce. The Committee’s judgment in exercising its Negative Discretion to arrive at a XXXX Payment under Level 2 is expected to be guided by the degree to which the Corporation generally or the participating key executives in particular have attained predetermined Operational Goals. The Committee is expected to review the level of attainment of Operational Goals with the Chief Executive Officer of the Corporation before exercising any Negative Discretion. For the 2006-2008, the 2007-2009 the 2008-2010, 2010 and the 2009-2011, 2010-2012, 2011-2013 and the 2012-2014 2011 Performance Period, the Committee has established the Participant Retention Achievement Bank under Section 8.04.

Levels of Awards. XXXX Awards are granted with two levels. The first level, Level 1I, is a cash bonus payment based on achievement of Earnings that the Committee has no discretion to reduce. XXXX Payments earned under Level 1 I will be earned solely with reference to Earnings attained during the Performance Period. The second level, Level 2II, is a cash bonus payment based on level of attainment of Operational Goals that the Committee has the Negative Discretion to reduce. The Committee’s judgment in exercising its Negative Discretion to arrive at a XXXX Payment under Level 2 II is expected to be guided by the degree to which the Corporation generally or the participating key executives in particular have attained predetermined Operational Goals. The Committee is expected to review the level of attainment of Operational Goals with the Chief Executive Officer of the Corporation before exercising any Negative Discretion. For the 2006-2008, the 2007-2009 the 2008-2010, 2009-2011, 2010-2012, 2012 and the 2011-2013 and the 2012-2014 Performance Period, the Committee has established the Participant Retention Achievement Bank under Section 8.04.