Common use of AIP Clause in Contracts

AIP. “AIP” shall mean the annual incentive plan in which Executive is entitled to participate, as such plan is in effect from time to time. References herein to Executive’s “Target AIP” shall mean Executive’s target annual bonus opportunity at such time; provided, however, that if at such time Executive’s target annual bonus opportunity under the AIP has not yet been set for the then current year, the target annual bonus opportunity in effect for Executive under the AIP for the immediately preceding year shall be used as the Executive’s target annual bonus opportunity. If Executive has been promoted to a band in CBI’s salary structure having a minimum higher target annual bonus opportunity under the AIP, but has not yet had his/her target annual bonus opportunity increased to the minimum target annual bonus opportunity applying to others at that band, such increased target annual bonus opportunity nonetheless shall be used to calculate the Executive’s Target AIP hereunder.

AIP. “AIP” " shall mean the annual incentive plan in which Executive is entitled to participate, as such plan is in effect from time to time. References herein to Executive’s “'s "Target AIP” " shall mean Executive’s 's target annual bonus opportunity at such time; provided, however, that if at such time Executive’s 's target annual bonus opportunity under the AIP has not yet been set for the then current year, the target annual bonus opportunity in effect for Executive under the AIP for the immediately preceding year shall be used as the Executive’s 's target annual bonus opportunity. If Executive has been promoted to a band in CBI’s 's salary structure having a minimum higher target annual bonus opportunity under the AIP, but has not yet had his/her target annual bonus opportunity increased to the minimum target annual bonus opportunity applying to others at that band, such increased target annual bonus opportunity nonetheless shall be used to calculate the Executive’s 's Target AIP hereunder.