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                                                                   EXHIBIT 10.22

STRATEGIC INCENTIVE PLAN (SIP)

<TABLE>
<S>                    <C>
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Purpose                Reward achievement of three year goals
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Eligibility            Key managers and above identified on an individual basis.
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Participation Level    Pro rata participation for cycle ending in first year of eligibility.

                       Full participation for subsequent cycles.

                       Must be employed at year-end to receive an award (except in the event of death or disability).
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Target Incentives      Sum of target incentive opportunity as a percent of salary times salary for all eligible
                       participants.
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Performance            Funding to be based on performance versus the following measures:
Measures
                       .  60% Brunswick Value Added (BVA). BVA defined as profits after-tax; reduced for cost of
                          capital charge (capital to include working, fixed and other assets; cost of capital will
                          include debt and equity)
                          .  For Division employees 60% BVA will be split evenly between Division BVA and overall
                             Brunswick Corporation BVA.
                          .  For Corporate headquarters employees BVA will be based entirely on overall Brunswick
                             Corporation BVA.

                       .  40% performance against Strategic Factors.
                          .  For Division employees based on Division's strategic factor performance
                          .  For Corporate headquarters employees based on average of all Division strategic factor
                             performance results
                          .  For cycles beginning in 2001 factors include:
                             .  Customer satisfaction
                             .  Growth in market share
                             .  Product innovation (percent of sales from new products)
                             .  Employee satisfaction
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Performance Levels:
 .  Threshold           .  Minimum performance level supporting the funding of any variable incentive pay.
                          Threshold to be determined for each Division and Brunswick Corporation individually.

 .  Target              .  Agreed upon performance level, typically tied to business plans for performance period.

 .  Stretch             .  Performance necessary to support funding at twice target level.
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Performance Period     Generally three-year performance periods will be used.

                       .  For BVA: overlapping cycles beginning each year.
                          To phase into the program, three performance periods will begin in 2001.
                          .  2001: One year cycle with 50% of normal target incentives for those transitioning from
                             2000 - 2001 SIP.  (Current 2000 - 2001 SIP cycle shortened to one year. Pay out
                             accrued, but will not be paid until regularly scheduled date - February, 2002.)
                          .  2001 - 2002: Two year cycle
                          .  2001 - 2003: Three year cycle
                          Beginning in 2002 and in each year thereafter a new three-year cycle will begin.

                       .  For Strategic Factors: three-year, end-to-end cycles.  Partial pay outs before the end of
                          a performance cycle may be considered.
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</TABLE>
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Strategic Incentive Plan . . .

<TABLE>
<S>                    <C>
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Overall Funding        Overall funding will be the sum of BVA funding and strategic factor funding.
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Funding Review and     The following steps will be taken to review and approve funding:
Approval
                       .  CFO will review actual results quarterly to evaluate established accruals.

                       .  CEO will review performance at end of performance period and approve funding or recommend
                          funding to Human Resource and Compensation Committee as appropriate.

                       .  Committee will review and approve funding as deemed appropriate.
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Maximum Funding        None
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Individual Awards      Individual awards will be determined on a discretionary basis using evaluation of individual
                       performance for the performance period, target incentives as a percent of salary and covered
                       salary (actual received for final year or performance period).

                       Individuals must be employed at time of payment to receive an award, except those
                       terminating due to death or permanent and total disability will be eligible to receive
                       individual awards.
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Timing of Award        As soon as practical after financial results are confirmed and appropriate approvals
Payments               obtained.
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</TABLE>

Nothing contained in these materials constitutes or is intended to create a
promise of an individual incentive award or a contract of continued employment.
Employment is at-will and may be terminated by either the employee or
Corporation for any reason at any time.<PAGE>

                                                                   EXHIBIT 10.26

                                PROMISSORY NOTE
                                ---------------

   $800,000.00                Lake Forest, Illinois             March 2, 2001
------------------      ----------------------------------      -------------
(Principal Amount)                (City, State)                    (Date)

     FOR VALUE RECEIVED, George W. Buckley ("Mr. Buckley") and Carol L. Buckley
(individually and collectively, the "Maker"), hereby jointly and severally
promise to pay to the order of Brunswick Corporation, a Delaware corporation
("Brunswick"), the principal amount of Eight Hundred Thousand Dollars
($800,000.00) in five equal successive annual installments of $160,000.00
payable on August 1 of each year beginning on August 1, 2001 and ending on
August 1, 2005 without interest, except as provided in Section 3 below. This
Note amends and supersedes the Promissory Note between the Maker and Brunswick
dated August 11, 2000.

     The principal amount of this Note and all interest thereon as provided in
Section 3 shall be payable at the office of Brunswick, attention: Treasurer, 1
North Field Court, Lake Forest, Illinois, 60045, in lawful money of the United
States of America.  All payments shall be applied first to interest, if
applicable, then to principal.

     Section 1.  Mr. Buckley has recently been named Chairman, Chief Executive
Officer and President of Brunswick, and Brunswick has requested Mr. Buckley to
move his principal residence from Fond du Lac, Wisconsin to the Northern suburbs
of Chicago, Illinois.  Mr. Buckley agrees that he will use the proceeds of this
loan solely to purchase a new principal residence in North Barrington, Illinois.
This Note is secured by a mortgage on such residence in favor of Brunswick dated
on or about the date hereof (the "Mortgage").  Mr. Buckley hereby certifies to
Brunswick that he expects to be entitled to, and will itemize on his Federal tax
returns, deductions during each year that amounts are outstanding under this
Note.

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     Section 2.  Brunswick may offset against principal and interest amounts
owed pursuant to this Note (i) the cash amounts Brunswick owes Mr. Buckley
pursuant to the Brunswick Performance Plan ("BPP") or any successor plan for
2000 and subsequent years and the Brunswick Strategic Incentive Plan ("BSIP") or
any successor plan for 1999-2000 and subsequent periods after deducting all
applicable federal and state withholding taxes and (ii) if such amounts are not
sufficient, the cash amounts which Mr. Buckley would have deferred under the BPP
or any successor plan for 2000 and subsequent years and under the BSIP or any
successor plan for 1999-2000 and subsequent periods after deducting all
applicable federal and state withholding taxes.  If the foregoing offsets are
not sufficient to pay all principal and interest amounts due pursuant to this
Note on August 1, 2005 or at any accelerated maturity date as a result of an
Event of Default, Brunswick may offset all amounts it then holds in any deferred
account for Mr. Buckley after deducting all applicable federal and state
withholding taxes.

     Section 3.  If Mr. Buckley fails to pay any principal installment when it
is due, the unpaid portion of such principal payment will bear interest at the
rate of 7-1/2% per annum until paid, payable annually on each August 1 and on
demand after August 1, 2005 or any accelerated maturity date as a result of an
Event of Default.  If the principal amount of this Note is not paid in full at
any accelerated maturity, the unpaid principal amount will bear interest at the
rate of 7-1/2% per annum payable on demand.  All interest will be calculated for
the actual number of days on a 365-day year basis.

     Section 4.  If any of the following events ("Event of Default") shall occur
and be continuing:

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     a.   if Mr. Buckley's employment with Brunswick terminates;

     b.   death or incapacity of Mr. Buckley;

     c.   sale of Maker's principal residence in North Barrington, Illinois
     which is subject to the Mortgage;

     d.   if the Mortgage shall at any time cease to be in full force and effect
     in accordance with its terms;

     e.   default by Maker in the performance of any covenant, agreement or
     provision contained in the Mortgage;

     f.   if Maker becomes insolvent or bankrupt, admits in writing an inability
     to pay debts as they become due, or makes an assignment for the benefit of
     creditors, or petitions or applies for the appointment of a trustee,
     liquidator or receiver of Maker or any substantial part of the assets of
     Maker, or commences any proceeding relating to Maker under any bankruptcy,
     reorganization, arrangement, insolvency, readjustment of debt, dissolution,
     liquidation or similar law of any jurisdiction, now or hereafter in effect,
     or shall be adjudicated bankrupt or insolvent; or

     g.   if any such petition or application is filed, or any such proceeding
     is commenced against Maker, and Maker indicates his/her approval thereof,
     consent thereto or acquiescence therein, or an order is entered appointing
     any such trustee, liquidator, or receiver, or approving a petition in any
     such proceeding, and such order remains in effect for more that thirty
     days, whether or not consecutive;

then all indebtedness evidenced hereby, all interest thereon and all other
amounts payable hereunder shall automatically be and become immediately due and
payable, all without presentment, demand, protest or further notice of any kind,
all of which are hereby expressly waived by Maker.

     Section 5.  Maker waives presentment for payment, demand, protest and
notice of dishonor.

     Section 6.  This Note may not be changed or terminated orally and may not
be transferred to, or assumed by any other person.

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     Section 7.  The interest benefits of this Note may not be assigned or
otherwise transferred by Maker to a third party and are conditioned on the
future performance of substantial services to Brunswick by Mr. Buckley.

     Section 8.  In addition to, and not in limitation of, the foregoing, Maker
further agrees, subject only to any limitation imposed by applicable law, to pay
all expenses including reasonable attorneys' fees and expenses, incurred by
Brunswick in seeking to enforce the provisions of this Note or to collect any
amounts payable hereunder which are not paid when due, whether by acceleration
or otherwise.

     Section 9.  If any day upon which any principal or interest due and owing
hereunder falls on a day other than a business day (a day other than a Saturday,
Sunday or other day on which commercial banks in Chicago, Illinois are
authorized or required to close [a "Business Day"]), then any payments due
hereunder on such day shall be made the next succeeding Business Day and
interest shall accrue and be payable for such additional period.

     Section 10.  ANY LITIGATION BASED HEREON, OR ARISING OUT OF, UNDER, OR IN
CONNECTION WITH, THIS NOTE, OR ANY COURSE OF CONDUCT, COURSE OF DEALING,
STATEMENTS (WHETHER VERBAL OR WRITTEN) OR ACTIONS OF BRUNSWICK OR MAKER SHALL BE
BROUGHT AND MAINTAINED EXCLUSIVELY IN THE COURTS OF THE STATE OF ILLINOIS
LOCATED IN LAKE COUNTY OR IN THE UNITED STATES DISTRICT COURT FOR THE NORTHERN
DISTRICT OF ILLINOIS; PROVIDED, HOWEVER, THAT ANY SUIT SEEKING ENFORCEMENT
AGAINST ANY COLLATERAL OR OTHER PROPERTY MAY BE BROUGHT,

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AT BRUNSWICK'S OPTION, IN THE COURTS OF ANY JURISDICTION WHERE SUCH COLLATERAL
OR OTHER PROPERTY MAY BE FOUND. MAKER HEREBY EXPRESSLY AND IRREVOCABLY SUBMITS
TO THE JURISDICITON OF THE COURTS OF THE STATE OF ILLINOIS LOCATED IN LAKE
COUNTY AND OF THE UNITED STATES DISTRICT COURT FOR THE NORTHERN DISTRICT OF
ILLINOIS FOR THE PURPOSE OF SUCH LITIGATION AS SET FORTH ABOVE AND IRREVOCABLY
AGREES TO BE BOUND BY ANY JUDGMENT RENDERED THEREBY IN CONNECTION WITH SUCH
LITIGATION. MAKER FURTHER IRREVOCABLY CONSENTS TO THE SERVICE WITHIN OR WITHOUT
THE STATE OF ILLINOIS. MAKER HEREBY EXPRESSLY AND IRREVOCABLY WAIVES, TO THE
FULLEST EXTENT PERMITTED BY LAW, ANY OBJECTION WHICH MAKER MAY HAVE OR HEREAFTER
MAY HAVE TO THE LAYING OF VENUE OF ANY SUCH LITIGATION BROUGHT IN ANY SUCH COURT
REFERRED TO ABOVE AND ANY CLAIM THAT ANY SUCH LITIGATION HAS BEEN BROUGHT IN AN
INCONVENIENT FORUM.

     MAKER HEREBY KNOWINGLY, VOLUNTARILY AND INTENTIONALLY WAIVES ANY RIGHTS
MAKER MAY HAVE TO A TRIAL BY JURY IN RESPECT OF ANY LITIGATION BASED HEREON, OR
ARISING OUT OF, UNDER, OR IN CONNECTION WITH, THIS NOTE OR ANY OTHER DOCUMENT
RELATED HERETO, OR ANY COURSE OF CONDUCT, COURSE OF DEALING, STATEMENTS (WHETHER
VERBAL OR WRITTEN) OR ACTIONS OF MAKER OR BRUNSWICK.

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     Section 11.  This Note shall be governed by the laws of the State of
Illinois.

     IN WITNESS WHEREOF, Maker has executed this Note as of the date first above
written.

MAKER                                 MAKER

/s/ George W. Buckley                 /s/ Carol L. Buckley
--------------------------            ------------------------
George W. Buckley                     Carol L. Buckley

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