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This excerpt taken from the RS DEF 14A filed Apr 9, 2008. Eligibility.
Only corporate officers of Reliance and of RSAC Management
Corp., a California corporation that is a wholly-owned
subsidiary of Reliance, are eligible to participate in the Bonus
Plan. The Board of Directors determines who is a corporate
officer and, therefore, eligible to participate in the Bonus
Plan. Although eligibility from year to year is dependent on
status as a corporate officer, it is currently expected that
approximately ten individuals will
participate in the Bonus Plan each year, with other individuals
being added if and when they become corporate officers.
The Bonus Plan requires that any participant must be a corporate
officer of the Company at the end of the applicable year and
that any incentive bonus actually earned based on performance
may be prorated if the participant was a corporate officer for
less than the full year. The Bonus Plan gives the Compensation
and Stock Option Committee the discretion to award a pro rated
bonus if a corporate officer retires prior to December 31 in any
year. All awards shall be payable no later than March 15
following the end of the year for which the bonus is payable.
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