Common use of Chesapeake Utilities Corporation Performance Incentive Plan Clause in Contracts

Chesapeake Utilities Corporation Performance Incentive Plan. Executive shall be eligible for a performance incentive compensation award as determined on an annual basis by the Compensation Committee of the Board in its discretion and in accordance with and subject to the terms of the Company’s Performance Incentive Plan during the Term of this Agreement. The Performance Incentive Plan Target Bonus as a percent of base salary shall be reviewed annually and may be increased or decreased, from time to time, provided, however, that Target shall only be decreased by the Board on a good faith basis and with reasonable justification for the same, and provided further, that in the event of a Change in Control, Target shall not at any time thereafter be decreased.

Chesapeake Utilities Corporation Performance Incentive Plan. Executive shall be eligible for a performance incentive compensation award as determined on an annual basis by the Compensation Committee of the Parent Company's Board in its discretion and in accordance with and subject to the terms of the Company’s Performance Incentive Plan during the Term of this Agreement. The Performance Incentive Plan Target Bonus as a percent of base salary shall be reviewed annually and may be increased or decreased, from time to time, provided, however, that Target shall only be decreased by the Board on a good faith basis and with reasonable justification for the same, and provided further, that in the event of a Change in Control, Target shall not at any time thereafter be decreased.