Common use of Current Compensation Package Clause in Contracts

Current Compensation Package. The term "Current Compensation ---------------------------- Package" for purposes of (S) 3(a)(2)(A) of this Agreement shall mean the sum of the following: (a) Executive's highest annual base salary from SunTrust and any SunTrust Affiliate which (but for any salary deferral election) is in effect at any time during the 1 year period which ends on the date Executive's employment with SunTrust or a SunTrust Affiliate terminates under the circumstances described in (S) 3(a) or (S) 3(f); (b) The greater of (i) Executive's target annual MIP bonus for the calendar year in which Executive's employment with SunTrust or a SunTrust Affiliate terminates under the circumstances described in (S) 3(a) or (S) 3(f) or (ii) the greater of (A) the average of the annual MIP bonus which was paid to Executive (or, if greater, which would have been paid to Executive but for any bonus deferral election) for the 3 full calendar years in which Executive has participated in the MIP (or, if less, the number of full calendar years in which Executive has participated in the MIP) which immediately precedes the calendar year in which Executive's employment so terminates or, if Executive was not eligible to participate in the MIP in the calendar year which immediately precedes the calendar year in which Executive's employment so terminates, (B) the greater of (1) the average MIP bonus described in (S)1.8(b)(ii)(A) or (2) the last MIP bonus which was paid to Executive (or, if greater, which would have been paid to Executive but for any bonus deferral election); and (i) The average of the PUP bonus which was paid to Executive (or, if greater, which would have been paid to Executive but for any bonus deferral election) for the 3 full performance cycles in which Executive has participated in the PUP (or, if less, for the number of full performance cycles in which Executive has participated in the PUP) which immediately precede the performance cycle which ends in the calendar year in which Executive's employment with SunTrust or a SunTrust Affiliate terminates under the circumstances described in (S) 3(a) or (S) 3(f) or, if Executive was not eligible to participate in the PUP for the performance cycle which ends in the calendar year in which Executive's employment so terminates or if there is no such cycle, (ii) the average PUP bonus described in (S)1.8(c)(i) or the last PUP bonus which was paid to Executive (or, if greater, which would have been paid to Executive but for any bonus deferral election), whichever is greater.