Annual MIP Bonus definition
Annual MIP Bonus means any Annual MIP Bonus to which a Participant may become entitled pursuant to the MIP; provided, however, that the establishment by the Committee of a potential Annual MIP Bonus with respect to a Participant pursuant to Section 3(a) does not, by itself, entitle the Participant to payment of any such Bonus until such Bonus has been earned and becomes payable pursuant to other provisions hereof.
Examples of Annual MIP Bonus in a sentence
In determining whether or not O'Brien has received such minimum compensation, there shall only be taken into account the following items of compensation: (1) the total Base Salary paid to O'Brien through the end of Meredith's 2002 Fiscal Year; and (2) the total Annual MIP Bonus awarded to O'Brien for 2002 Fiscal Year.