EXHIBIT 10(iii)(c) TO: EXECUTIVE VICE PRESIDENT SUBJECT: BONUS CONTRACT FOR 1998 The bonus plan applying to you for 1998 is outlined herein. Your bonus potential for 1998 will be divided into two parts. ____ % of salary will be based on Group Operating results and ____ % of salary will be based on the bonus awarded to the Chairman's Office. GROUP OPERATIONS CONTRACT (applies to % of salary) 1. Should your Operations Groups attain worldwide operating income of $ , you will receive a bonus of % of % of your annual salary rate in effect on December 31,1998. 2a. For each $ by which your worldwide operating income exceeds $ up to $ , you will receive % of % of your salary. For each $ over $ , you will receive % of % of your salary. 2b. If you achieve a productivity improvement of %, you will receive an additional % of % of your salary. 3. If you attain % accounts receivable and inventory as a percent of sales, you will receive % of % of your salary. For each % reduction thereafter, you will receive an additional % of % of your salary. 4. You may receive an additional discretionary award of up to % of % of your salary. The award will be based upon your individual achievements and the accomplishments of your Groups. The award will also be determined on the basis of performance in process reengineering and in our company-wide procurement initiative and the year 2000 project. Any award also will be dependent upon the Company's overall performance. 5. The maximum bonus award on the sum of paragraphs (1) and (2) will be limited to % of % of your salary. The maximum bonus award on paragraph (3) will be limited to % of % of your salary. The maximum bonus award on paragraph (4) will be limited to % of % of your salary. 6. Should the Company achieve or exceed Earnings Per Share of $ , the total bonus percentage earned by you under paragraphs (1) through (5) will be increased in accordance with the following schedule: EARNINGS PER BONUS % EARNED PAR.1-5 SHARE ATTAINED INCREASED BY $____ 10% $____ 15% $____ 20% $____ 25% CORPORATE CONTRACT (applies to % of salary) 7. You also will receive a bonus based upon the percentage bonus awarded to the Chairman's office which will apply to % of your salary. For example, if the bonus awarded to the Chairman's office is % of salary, your bonus award under this paragraph (7) would be % of % of salary. 8. The maximum bonus award for paragraphs (1) through (7) will be limited to % of your total annual salary rate in effect on December 31, 1998. 9. Acquisitions, divestitures, changes in assignment, changes in accounting procedures or tax law, abnormal deviations to plan in other income and expenses in your financial income statements, and/or corrections in historical data during 1998 may necessitate pro rata adjustments in the above goals and/or actual operating results. Any such changes will be advised to you in a timely manner. 10. The results will be tabulated by the Corporate Controller's Office and reflected on Operating Income and Accounts Receivable and Inventory Reports. 11. It is the present intention of the Company to decide the amount of bonus for 1998 in February 1999. If the above objectives are not attained, any bonus award will be made at the sole discretion of the Company. 12. The Company will be the final arbiter of interpretation of the above arrangements. J. E. Perrella J. F. Travis Chairman Vice Chairman