Common use of Salary and Annual Bonus Clause in Contracts

Salary and Annual Bonus. During the period of the Executive's employment hereunder, the Company shall pay to the Executive an annual base salary at a rate not less than the rate in effect as of the date hereof or such higher rate as may from time to time be determined by the Board. This salary may be increased from time to time in accordance with normal business practices of the Company and, if so increased, shall not thereafter during the term of this Agreement be decreased. The Executive will participate in the Company's Annual Incentive Plan. In the event the Company amends or terminates the Annual Incentive Plan, the Company shall provide the Executive with an annual bonus program that will provide him with an opportunity to realize an annual bonus which is not less than the proportion of base salary which his target percentage under the Annual Incentive Plan represents at the time the Annual Incentive Plan is amended or terminated, which opportunity shall be reasonably comparable to the Executive's opportunity under the Annual Incentive Plan as of the date hereof. Compensation of the Executive by salary or bonus payments shall not be deemed exclusive and shall not prevent the Executive from participating in any other compensation or benefit plan of the Company. The salary and bonus payments (including any increased payments) hereunder shall not in any way limit or reduce any other obligation of the Company hereunder, and no other compensation, benefit or payment hereunder shall in any way limit or reduce the obligation of the Company to pay the Executive's salary or bonus hereunder.