Common use of Consistent Accounting Clause in Contracts

Consistent Accounting. In determining whether or not Executive is entitled to a bonus under this Agreement, the Company’s accounting practice and generally accepted accounting principles shall be applied on a basis consistent with prior periods, and such determination shall be based on the calculations made by the Company, approved by the Plan Compensation Committee and binding on Executive. Notwithstanding the foregoing, if there is any material change in GAAP during a Plan Year that results in a material change in accounting for the revenues or expenses of the Company the calculations of the Table B Percentage for the Plan Year (the “GAAP Change Year”) shall be made as if such change in GAAP had not occurred during the GAAP Change Year. In determining the Table B Percentage for Executive in the year following the GAAP Change Year, the calculation shall be made after taking into account such change in GAAP.

Appears in 2 contracts

Samples: Management Incentive Plan Bonus Agreement (Sysco Corp), Management Incentive Plan Bonus Agreement (Sysco Corp)

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Consistent Accounting. In determining whether or not Executive is entitled to a bonus under this Agreement, the Company’s accounting practice and generally accepted accounting principles (“GAAP”) shall be applied on a basis consistent with prior periods, and such determination shall be based on the calculations made by the Company, approved certified by the Plan Compensation Committee and binding on Executive. Notwithstanding the foregoing, if there is any material change in GAAP during a Plan Year that results in a material change in accounting for the revenues or expenses of the Company the calculations of the relevant Table B Percentage percentage for the Plan Year (the “GAAP Change Year”) shall be made as if such change in GAAP had not occurred during the GAAP Change Year. In determining the Table B Percentage Increase in Earnings Per Share for Executive the Company in the year following the GAAP Change Year, the calculation shall be made after taking into account such change in GAAP.

Appears in 2 contracts

Samples: Management Incentive Plan (Sysco Corp), Bonus Agreement (Sysco Corp)

Consistent Accounting. In determining whether or not Executive is entitled to a bonus under this Agreement, the Company’s accounting practice and generally accepted accounting principles (“GAAP”) shall be applied on a basis consistent with prior periods, and such determination shall be based on the calculations made by the Company, approved by the Plan Compensation Committee and binding on Executive. Notwithstanding the foregoing, if there is any material change in GAAP during a Plan Year that results in a material change in accounting for the revenues or expenses of the Company the calculations of the relevant Table B Percentage percentage for the Plan Year (the “GAAP Change Year”) shall be made as if such change in GAAP had not occurred during the GAAP Change Year. In determining the Table B Percentage Increase in Earnings Per Share for Executive the Company in the year following the GAAP Change Year, the calculation shall be made after taking into account such change in GAAP.

Appears in 2 contracts

Samples: Management Incentive Plan Bonus Agreement (Sysco Corp), Management Incentive Plan Bonus Agreement (Sysco Corp)

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Consistent Accounting. In determining whether or not Executive is entitled to a bonus under this Agreement, the Company’s accounting practice and generally accepted accounting principles shall be applied on a basis consistent with prior periods, and such determination shall be based on the calculations made by the Company, approved by the Plan Compensation Committee and binding on Executive. Notwithstanding the foregoing, if there is any material change in GAAP during a the Plan Year that results in a material change in accounting for the revenues or expenses of the Company the calculations of the Table A and Table B Percentage Percentages for the Plan Year (the “GAAP Change Year”) shall be made as if such change in GAAP had not occurred during the GAAP Change Year. In determining the Table A and Table B Percentage Percentages for Executive in the year following the GAAP Change Year, the calculation shall be made after taking into account such change in GAAP.

Appears in 1 contract

Samples: Management Incentive Plan Bonus Agreement (Sysco Corp)

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