MIP Bonus Sample Clauses
The MIP Bonus clause defines the terms under which an employee is eligible to receive a Management Incentive Plan (MIP) bonus. Typically, this clause outlines the performance metrics, targets, or company objectives that must be met for the bonus to be awarded, and may specify the timing and method of payment. By clearly establishing the criteria and process for earning the bonus, this clause incentivizes desired performance and ensures both parties understand the conditions for additional compensation.
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MIP Bonus. The term “MIP Bonus” means the bonus earned by CEO under the MIP for the Fiscal Year, without regard to any additional Company matching contributions.
MIP Bonus. Notwithstanding anything herein or otherwise to the contrary, the term “MIP Bonus” means the bonus earned by CEO under the MIP for the Fiscal Year, without regard to any additional amounts the CEO may be entitled to receive under the MIP as a result of elections made by the CEO. By way of example, the MIP Bonus will not include any “Additional Shares” or “Additional Cash Bonus” (as such terms are defined in the MIP) the CEO may be entitled to receive pursuant to Sections 6(A) and 6(B) of the MIP as a result of electing to receive a portion of his MIP Bonus in Company stock. For avoidance of doubt, the MIP Bonus will not include any Company matching contributions resulting from the deferral of all or a portion of the MIP Bonus under the EDCP.
MIP Bonus. (1) During the course of his employment, O'Brien shall be eligible to participate in the ▇▇▇▇▇▇▇▇ Management Incentive Plan (or any successor or replacement annual incentive plan of ▇▇▇▇▇▇▇▇) ("MIP"), for such periods as it continues in effect, subject to the terms of the MIP, and to the discretion vested in the Compensation/Nominating Committee under the MIP.
(2) All bonuses pursuant to this paragraph 4(b) shall be paid to O'Brien in conformance with Meredith's normal bonus pay policies following the end of the respective fiscal year (i.e., July 1-June 30).