Common use of Management Incentive Program Clause in Contracts

Management Incentive Program. The Company has adopted a Management Incentive Program (“MIP”) to motivate and reward certain employees and other eligible participants for their contributions toward meeting the Company’s financial objectives and strategic goals. The Company has authorized 10,000 shares of Class B common stock (the “Class B shares”) to be awarded under the MIP and subject to terms and restrictions set out in the MIP and a related restricted stock award agreement. Any such awards shall be governed by the MIP and may be modified, suspended, revoked, or terminated in accordance with the terms of the MIP without violating this Agreement. Subject to Board approval, the Company will grant 600 Class B shares to Employee. If there is any inconsistency between the terms of the MIP and the terms of this Agreement, the terms of the MIP shall govern.