Common use of Plan Bonus Clause in Contracts

Plan Bonus. As used herein, the term "Bonus Plan" means the Pall Corporation Executive Incentive Bonus Plan adopted by the Compensation Committee of the Board of Directors of the Company on July 17, 2001, approved by shareholders at the annual meeting of shareholders on November 14, 2001 and amended by the Compensation Committee on July 16, 2002 and November 1, 2002 effective for the Fiscal Year beginning August 4, 2002, a copy of which is annexed hereto and incorporated herein by reference. Words and terms used herein with initial capital letters and not defined herein are used herein as defined in the Bonus Plan. With respect to each Fiscal Year of the Company falling in whole or in part within the Term of Employment beginning with the Fiscal Year ending on the Saturday nearest to the 31st day of the month of July next following the Term Commencement Date: o if Executive is a member of the Operating Committee of the Company, Executive shall be eligible to receive a Bonus pursuant to and in accordance with the terms of the Bonus Plan; or o if Executive is not a member of the Operating Committee, Executive shall be entitled to receive a Bonus pursuant to this Agreement in an amount determined in accordance with and subject to all of the terms of the Bonus Plan. For purposes of determining the amount of the Bonus payable to Executive for any Fiscal Year as provided in this ss.3(b)(i) (the "Plan Bonus"), Executive's Target Bonus Percentage shall be 42% of his Base Salary for such Fiscal Year.

Plan Bonus. As used herein, the term "Bonus Plan" means the Pall Corporation Executive Incentive Bonus Plan adopted by the Compensation Committee of the Board of Directors of the Company on July 17, 2001, approved by shareholders at the annual meeting of shareholders on November 14, 2001 and amended by the Compensation Committee on July 16, 2002 and November 1, 2002 effective for the Fiscal Year beginning August 4, 2002, a copy of which is annexed hereto and incorporated herein by reference. Words and terms used herein with initial capital letters and not defined herein are used herein as defined in the Bonus Plan. With respect to each Fiscal Year of the Company falling in whole or in part within the Term of Employment beginning with the Fiscal Year ending on the Saturday nearest to the 31st day of the month of July next following the Term Commencement Date: o if Executive is a member of the Operating Committee of the Company, Executive shall be eligible to receive a Bonus pursuant to and in accordance with the terms of the Bonus Plan; or o if Executive is not a member of the Operating Committee, Executive shall be entitled to receive a Bonus pursuant to this Agreement in an amount determined in accordance with and subject to all of the terms of the Bonus Plan. For purposes of determining the amount of the Bonus payable to Executive for any Fiscal Year as provided in this ss.3(b)(i) (the "Plan Bonus"), Executive's Target Bonus Percentage shall be 4220% of his Base Salary for such Fiscal Year.