Common use of Bonus Programs Clause in Contracts

Bonus Programs. The Executive shall be eligible to participate in all incentive plans (“Incentive Plans”) approved from time to time by the Board. Incentive targets and maximums that are set by the Board may increase or decrease based upon market data and/or other studies conducted by the Company and the Board, or based on the discretion of the Board. Subject to review by the FHFA (or successor agency), the Executive’s target under an Incentive Plan that is effective for 2014 or any year thereafter will not be set lower than 60% of Base Salary except as a result of a board decision affecting all named executive officers, such as a nondiscriminatory cost reduction plan applicable to the Company’s total compensation budget.

Bonus Programs. The Executive shall be eligible to participate in all incentive plans (“Incentive Plans”) approved from time to time by the Board. Incentive targets and maximums that are set by the Board may increase or decrease based upon market data and/or other studies conducted by the Company and the Board, or based on the discretion of the Board. Subject to review by the FHFA (or successor agency), the Executive’s target under an Incentive Plan that is effective for 2014 2015 or any year thereafter will not be set lower than 6075% of Base Salary except as a result of a board Board decision affecting all named executive officersofficers covered by the Incentive Plan, such as a nondiscriminatory cost reduction plan applicable to the Company’s total compensation budget.

Bonus Programs. The Executive shall be eligible to participate in all incentive plans (“Incentive Plans”) approved from time to time by the Board. Incentive targets and maximums that are set by the Board may increase or decrease based upon market data and/or other studies conducted by the Company and the Board, or based on the discretion of the Board. Subject to review by the FHFA (or successor agency), the Executive’s target under an Incentive Plan that is effective for 2014 2018 or any year thereafter will not be set lower than 60% of Base Salary except as a result of a board decision affecting all named executive officers, such as a nondiscriminatory cost reduction plan applicable to the Company’s total compensation budget.

Bonus Programs. The Executive shall be eligible to participate in all incentive plans (“Incentive Plans”) approved from time to time by the Board. Incentive targets and maximums that are set by the Board may increase or decrease based upon market data and/or other studies conducted by the Company and the Board, or based on the discretion of the Board. Subject to review by the FHFA (or successor agency), the Executive’s target under an Incentive Plan that is effective for 2014 or any year thereafter will not be set lower than 6075% of Base Salary except as a result of a board Board decision affecting all named executive officersofficers covered by the Incentive Plan, such as a nondiscriminatory cost reduction plan applicable to the Company’s total compensation budget.

Bonus Programs. The Executive shall be eligible to participate in all incentive plans (“Incentive Plans”) approved from time to time by the Board. Incentive targets and maximums that are set by the Board may increase or decrease based upon market data and/or other studies conducted by the Company and the Board, or based on the discretion of the Board. Subject to review by the FHFA (or successor agency), the Executive’s target under an Incentive Plan that is effective for 2014 2020 or any year thereafter will not be set lower than 6085% of Base Salary except as a result of a board Board decision affecting all named executive officersofficers covered by the Incentive Plan, such as a nondiscriminatory cost reduction plan applicable to the Company’s total compensation budget.

Bonus Programs. The Executive shall be eligible to participate in all incentive plans (“Incentive Plans”) approved from time to time by the Board. Incentive targets and maximums that are set by the Board may increase or decrease based upon market data and/or other studies conducted by the Company and the Board, or based on the discretion of the Board. Subject to review by the FHFA (or successor agency), the Executive’s target under an Incentive Plan that is effective for 2014 2016 or any year thereafter will not be set lower than 60% of Base Salary except as a result of a board Board decision affecting all named executive officers, such as a nondiscriminatory cost reduction plan applicable to the Company’s total compensation budget.

Bonus Programs. The Executive shall be eligible to participate in all incentive plans (“Incentive Plans”) approved from time to time by the Board. Incentive targets and maximums that are set by the Board may increase or decrease based upon market data and/or other studies conducted by the Company and the Board, or based on the discretion of the Board. Subject to review by the FHFA (or successor agency), the Executive’s target under an Incentive Plan that is effective for 2014 2013 or any year thereafter will not be set lower than 60% of Base Salary except as a result of a board decision affecting all named executive officers, such as a nondiscriminatory cost reduction plan applicable to the Company’s total compensation budget.