Common use of Performance Bonus Plan Clause in Contracts

Performance Bonus Plan. Executive shall be included as a participant in any performance bonus plan introduced by the Corporation. It is anticipated that the Corporation shall develop such a performance bonus plan for the 1999 calendar year. This shall be a team-based plan and shall be dependent upon overall 1999 year-end performance of both the organization and its senior management. Any Deliverable-Based Bonus programs will be incorporated in this program. It is anticipated that if all business performance targets are realized during 1999, that the resulting bonus shall approximate ten to fifteen percent of each participant's base salary. This bonus is not guaranteed by the Corporation and is extended at the sole discretion of the Corporation.