NEW YORK - Chase Manhattan Corp. said its performance-based employee stock option plan had met its first target price - exceeding $52 a share for 10 consecutive days.

The plan gives 34,300 employees 400 stock options with a strike price of $35.50. Almost all of Chase's employees will get a $3,500 bonus, on paper, but the options cannot be exercised until Jan. 19, 1997.

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