Common use of Bonus and Incentive Programs Clause in Contracts

Bonus and Incentive Programs. Executive shall (without duplication) receive an annual bonus in respect of each fiscal year of the Corporation (a "Fiscal Year") ending during the Employment Period, at least equal to the bonus amount actually earned by Executive for such fiscal year under the Corporation's 1999 Executive Bonus Plan, as it may hereinafter be amended, modified or superseded or supplemented by another bonus plan sponsored by the Corporation or any affiliated company; provided that the Board (including the Compensation Committee thereof) may award Executive additional bonus amounts in its discretion (the aggregate of such bonus amounts being referred to hereunder as the "Bonus"). In addition to the Base Salary and Bonus payable as hereinabove provided, Executive shall be entitled to participate during the Employment Period in all incentive programs (whether cash or equity based, or otherwise), savings, pension, profit sharing and retirement plans and programs applicable to other key executives of the Corporation. In no event shall such plans and programs, in the aggregate, provide Executive following a Change in Control with compensation, benefits and reward opportunities less favorable than the most favorable of those provided by the Corporation and its subsidiaries for Executive under such plans and programs as in effect at any time during the ninety-day period immediately preceding the Change in Control or, if more favorable to Executive, as provided at any time thereafter with respect to any other key executive.