Common use of Parent Bonus Plan Clause in Contracts

Parent Bonus Plan. (a) ElderCare shall advise and direct Parent in determining all awards that would otherwise be payable under the Parent Bonus Plan to ElderCare Individuals for the fiscal year ending September 30, 2003, and shall advise and direct Parent in determining for ElderCare Individuals (i) the extent to which established performance criteria have been met, and (ii) the payment level for each ElderCare Individual. Parent shall use all reasonable efforts to award the amounts under the Parent Bonus Plan as determined by ElderCare as provided under this Section 6.2. ElderCare shall assume and directly pay when due all liabilities with respect to any such awards payable to ElderCare Individuals for the fiscal year ending September 30, 2003. As soon as possible following the payment of awards to ElderCare Individuals for the fiscal year ending September 30, 2003, Parent shall pay to ElderCare an amount equal to fifty percent (50%) of the amount awarded by ElderCare to the individuals set forth on Schedule E hereto who are ElderCare Individuals, and ElderCare shall pay to Parent an amount equal to fifty percent (50%) of the amount of the awards paid by Parent under the Parent Bonus Plan in respect of the plan year during which the Distribution Date occurs for the individuals set forth on Schedule E hereto who are Parent Employees.