Common use of MIP Bonus Clause in Contracts

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.

Appears in 1 contract

Sources: Supplemental Performance Based Bonus Agreement (Sysco Corp)

MIP Bonus. Notwithstanding anything herein or otherwise to the contrary, the term "MIP Bonus” 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 or her 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.

Appears in 1 contract

Sources: Supplemental Performance Based Bonus Agreement (Sysco Corp)