Common use of MIP Clause in Contracts

MIP. During the Employment Period, Executive shall be eligible to receive annual awards under MIP. To the extent provided in Section 162(m) of the Code, the goals, scope and conditions of any award shall be established annually by the Committee. Subject to the foregoing, (i) for fiscal 1996 Executive shall be entitled to earn up to 35% of his Base Salary if the target established by the Committee is met and up to 70% of his Base Salary if such target is exceeded, with the payment potential ranging from 0% to 70% of Executive's Base Salary as established by the terms of the award, and (ii) commencing with fiscal 1997 Executive shall be entitled to earn up to 42.5% of his Base Salary if the target established by the Committee is met and up to 85% of his Base Salary if such target is exceeded, with the payment potential ranging from 0% to 85% of Executive's Base Salary as established by the terms of the award."

MIP. During the Employment Period, Executive shall be eligible to receive annual awards under MIP. To the extent provided in Section 162(m) of the Code, the goals, scope and conditions of any award shall be established annually by the Committee. Subject to the foregoing, (i) for fiscal 1996 Executive shall be entitled to earn up to 3545% of his Base Salary if the target established by the Committee is met and up to 7090% of his Base Salary if such target is exceeded, with the payment potential ranging from 0% to 7090% of Executive's Base Salary as established by the terms of the award, and (ii) commencing with fiscal 1997 Executive shall be entitled to earn up to 42.550% of his Base Salary if the target established by the Committee is met and up to 85100% of his Base Salary if such target is exceeded, with the payment potential ranging from 0% to 85100% of Executive's Base Salary as established by the terms of the award."