Common use of Determination and Payment Clause in Contracts

Determination and Payment. The determination of the amount of Net Pre-Tax Income and the extent to which any Bonus under this Section 4 may be payable (the “Final Determination”) shall be determined by the Compensation Committee in accordance with the terms hereof based on the audited financial statements of the Corporation and the criteria set forth herein with respect to each fiscal year. Such Final Determination with respect to any fiscal year shall be made promptly, and in any event within 15 days, after the Corporation has filed its Annual Report on Form 10-K for each year with the Securities and Exchange Commission. The Bonus shall be payable to the Executive in cash no later than the date of the Final Determination in each year of this Agreement. In any event, all matters pertaining to the Bonus and to the payment of any Bonus to the Executive hereunder, shall be administered and determined by the Compensation Committee in its reasonable discretion consistent with the terms hereof, the determination of which shall be final, conclusive and binding for all purposes, absent manifest error.

Determination and Payment. The determination of the amount of Net Pre-Tax Income and the extent to which any Bonus under this Section 4 may be payable (the “Final Determination”) shall be determined by the Compensation Committee in accordance with the terms hereof based on the audited financial statements of the Corporation and the criteria set forth herein with respect to each fiscal year. Such Final Determination with respect to any fiscal year shall be made promptly, and in any event within 15 days, after the Corporation has filed its Annual Report on Form 10-K for each year with the Securities and Exchange Commission. The Bonus shall be payable to the Executive in cash a restricted stock award of Class A Common Stock pursuant to the Plan no later than the date of the Final Determination in each year of this Agreement. In any event, all matters pertaining to the Bonus and to the payment of any Bonus to the Executive hereunder, shall be administered and determined by the Compensation Committee in its reasonable discretion consistent with the terms hereof, the determination of which shall be final, conclusive and binding for all purposes, absent manifest error.