Common use of MIP Clause in Contracts

MIP. SunTrust shall pay Executive within 30 days --- after Executive's employment terminates a portion of Executive's target bonus or, if greater, Executive's projected bonus under the MIP for the calendar year in which Executive's employment terminates, where (1) Executive's projected bonus shall be no less than the bonus which would have been projected under the projection procedures in effect under the MIP on the date of the Change in Control and (2) such portion shall be determined by multiplying such target bonus or, if greater, such projected bonus by a fraction, the numerator of which shall be the number of days Executive is employed in such calendar year and the denominator of which shall be the number of days in such calendar year.

MIP. SunTrust shall pay Executive within 30 days --- after Executive's ’s employment terminates a portion of Executive's ’s target bonus or, if greater, Executive's ’s projected bonus under the MIP for the calendar year in which Executive's ’s employment terminates, where (1) Executive's ’s projected bonus shall be no less than the bonus which would have been projected under the projection procedures in effect under the MIP on the date of the Change in Control and (2) such portion shall be determined by multiplying such target bonus or, if greater, such projected bonus by a fraction, the numerator of which shall be the number of days Executive is employed in such calendar year and the denominator of which shall be the number of days in such calendar year.