FIP. If Executive was not eligible to participate in the MIP, but participates in a FIP, SunTrust shall (subject to the exception to this general rule set forth in § 3.1(c)(5)(iii)) 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 FIP for the calendar year in which Executive’s employment terminates, where (a) Executive’s projected bonus shall be no less than the bonus which would have been projected under the projection procedures in effect under the FIP on the date of the Change in Control, and (b) 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.
Appears in 9 contracts
Samples: Change in Control Agreement (Suntrust Banks Inc), Change in Control Agreement (Suntrust Banks Inc), Change in Control Agreement (Suntrust Banks Inc)
