Common use of Incentive Award Clause in Contracts

Incentive Award. Return On Equity (the “XXX”) Earnings determined as of December 31 of each calendar year shall determine the Director’s Incentive Award Percentage, in accordance with the attached Schedule A. The chart on Schedule A is specifically subject to change annually at the sole discretion of the Company’s Board of Directors. The Incentive Award is calculated annually by taking the Director’s Annual Fees for the calendar year in which the XXX and Earnings were calculated times the Incentive Award Percentage.

Incentive Award. Return On Equity (the “XXX”) Earnings determined as of December 31 of each calendar year shall determine the DirectorExecutive’s Incentive Award Percentage, in accordance with the attached Schedule A. The chart on Schedule A is specifically subject to change annually at the sole discretion of the Company’s Board of Directors. The Incentive Award is calculated annually by taking the DirectorExecutive’s Annual Fees Base Salary for the calendar year in which the XXX and Earnings were was calculated times the Incentive Award Percentage.