2 Awards Sample Clauses

2 Awards. During the term of this Agreement, the Executive shall be eligible to receive performance and annual incentive awards (the "Awards") payable in cash in accordance with Section 8 of the SHERWOOD FOODS, INC. 1998 EXECUTIVE COMPENSATION PLAN, as may be amended from time to time (the "Executive Plan"). Except as otherwise provided for in this Section 3.2, the Awards, if any, shall be determined pursuant to such formulae as the Committee or the Board, in its sole and absolute discretion, shall set forth from time to time in accordance with the Executive Plan. Notwithstanding the foregoing, no Awards shall be payable to the Executive under the Executive Plan for a fiscal year if the pre-tax profits of the Company for such fiscal year do not exceed one million dollars ($1,000,000). If the pre-tax profits of the Company for a fiscal year exceed one million dollars ($1,000,000), then the following shall apply: