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EXHIBIT 10(iii)(e)
COMMERCIAL METALS COMPANY KEY EMPLOYEE
ANNUAL INCENTIVE PLAN
PURPOSE
The objectives for the Annual Incentive Plan are to:
o Pay for short-term results which help drive
longer term shareholder value
creation for Commercial Metals Company
including achieving annual business
and financial performance targets;
o Encourage senior management to promote the
interests of the Company and
subsidiaries by linking compensation to
the Company's consolidated
financial results;
o Maintain an entrepreneurial culture among key
management employees by
linking compensation to results for their
business unit or area of
responsibility;
o Communicate expectations, results, and
incentive payouts in a clear,
unambiguous way;
o Provide total cash compensation levels that are
competitive with or above
the market, especially with high
performance; and
o Fund the incentive payouts from results
achieved consistent with acceptable
returns for shareholders.
PARTICIPANTS
Those executive officers of the Company and selected other senior
managers as
approved by the compensation committee.
AWARD OPPORTUNITIES
Each eligible plan participant has a target award opportunity,
expressed as a
percentage of base salary. The target award represents the level of
bonus
payment the participant may earn in the event financial performance
is achieved
at targeted levels a
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