Common use of Management Incentive Program Clause in Contracts

Management Incentive Program. Executive will be eligible to participate in MGC’s Incentive Plan. Executive’s participation in and the criteria for this plan will be subject to the written terms and provisions of the plan, as established annually by and solely within the discretion of the Board of Directors, which may be amended at any time by the Board. Executive may earn up to fifty percent (50%) of his Base Salary each year under the plan if he meets the eligibility requirements and criteria.