MBO Component Sample Clauses

MBO Component. The MBO Component, if any, for each Participant shall be determined as follows: (a) If the Committee determines that such Participant has not met such Participant’s MBO Goals for FY 2009, such Participant’s MBO Component shall equal 0, subject to the conditions reflected in paragraph (d.) below. (b) If the Committee determines that such Participant has met such Participant’s MBO goals for FY 2009, such Participant’s MBO Component shall equal the product of (X) such Participant’s Target Bonus multiplied by (Y) twenty-five percent (25%) multiplied by (Z) the Bonus Multiplier. (c) If the Committee determines that such Participant has substantially exceeded such Participant’s MBO goals for FY 2009, such Participant’s MBO Component shall equal the product of (X) such Participant’s Target Bonus multiplied by (Y) fifty percent (50%) multiplied by (Z) the Bonus Multiplier, subject to the conditions reflected in paragraph (d.) below; provided that such Participant’s MBO Component shall be capped such that in no event shall such Participant’s Bonus Payment exceed the product of 2 and such Participant’s Target Bonus. (d) Discretionary Authority - Each executive’s MBO bonus shall be calculated as reflected above. In order to ensure close alignment with the earned MBO bonus and each participant’s goal attainment, the Committee, in consultation with the CEO, shall retain discretionary authority to adjust the MBO bonus up or down based upon an evaluation of each participant’s performance and contribution during the plan year. The Participant’s MBO Component shall be capped such that in no event shall such Participant’s Total Bonus Payment exceed the product of 2 (200%) times such Participant’s Total Target Bonus. The Committee shall determine whether each Participant has not met, met or substantially exceeded such Participant’s MBO Goals. The Committee shall determine the MBO Goals applicable to each Participant as follows: Such Participant shall submit to the Chief Executive Officer of the Company an initial proposal for such Participant’s MBO Goals for FY 2009. The Chief Executive Officer shall review such proposal, and at the Chief Executive Officer’s sole discretion, discuss such proposal with such Participant and/or modify such proposal. The Chief Executive Officer shall then submit such proposal (after giving effect to any modifications the Chief Executive Officer may have made in his or her sole discretion) to the Committee. The Committee shall review such proposa...
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