Common use of Performance-Based Award Clause in Contracts

Performance-Based Award. The Annual Bonus Award is intended to be a Performance-Based Award within the meaning of the Plan, and all of the terms and conditions of this Award shall be interpreted in such a manner so as to qualify all compensation paid hereunder as “qualified performance-based compensation” within the meaning of Section 162(m) of the Internal Revenue Code of 1986, as amended (the “Code”).

Appears in 2 contracts

Sources: Bonus Award Agreement (Apogee Enterprises Inc), Bonus Award Agreement (Apogee Enterprises Inc)