Common use of Purpose of Plan Clause in Contracts

Purpose of Plan. The purpose of the Plan is to promote the success of the Company by providing to the Executive bonus incentives that qualify as performance-based compensation within the meaning of Section 162(m) of the Code.

Purpose of Plan. The purpose of the Plan is to promote the success of the Company and its Subsidiaries by providing to the Executive participating executives of the Company and its Subsidiaries bonus incentives that qualify as performance-based compensation within the meaning of Section 162(m) of the Code. Subject to the approval of the shareholders of the Company, the Plan shall be effective as of March 1, 2012.

Purpose of Plan. The purpose of the Plan is to promote provide incentives and rewards for Executive Officers of the Company and its subsidiaries, who by their industry, loyalty, or exceptional service contribute to the success of the Company enterprise by providing to the Executive bonus incentives making them participants in that qualify as performance-based compensation within the meaning of Section 162(m) success. Additionally, by virtue of the Codemandatory nature of the Plan, Participant will have a direct stake in the Company's performance.