Carnival Cruises 2012 Annual Report Download - page 63

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ii. The Administrators may then consider other factors deemed, in their discretion, relevant to the performance of CCL and Carnival
Corporation & plc, including, but not limited to, the impacts of changes in accounting principles, unusual gains and/or losses and other
events outside the control of management. The Administrators may also consider other factors they deem, in their discretion, relevant to
the performance of CCL or each individual participant, including, but not limited to, operating performance metrics (such as return on
investment, revenue yield, costs per ALBD), successful implementation of strategic initiatives and business transactions, significant
business contracts, departmental accomplishments, executive recruitment, new ship orders, and management of health, environment,
safety and security matters. Based on such factors, the Administrators may, in their discretion, increase or decrease the preliminary
bonus amount calculated pursuant to Section 5.C.i. by any amount deemed appropriate to determine the final bonus amount. The final
bonus amount shall not exceed 200% of the Target Bonus of the participant.
In addition, the Administrators may adjust a participant’s bonus amount for any unpaid leave of absence regardless of the nature of the
leave.
6. PAYMENT OF BONUS
Except as otherwise provided in the section entitled “Participation,” bonuses shall be paid as soon as administratively practicable following
determination of the bonuses by the Administrators. At the discretion of the Administrators, special arrangements may be made for earlier payment to
Early Termination Employees.
Notwithstanding any other provision of this Plan, the issuance of bonuses is at the sole discretion of the Administrators. The Administrators
at their sole discretion, may increase, decrease or withhold bonuses.
7. DURATION OF PLAN
The Plan will be effective until terminated by the Compensation Committees.
8. AMENDMENT OF PLAN
The Compensation Committees may amend the Plan from time to time in such respects as the Compensation Committees may deem advisable.
Approved by the Compensation Committees: July 12, 2008 and amended October 07, 2012
CC-01608 - Carnival Cruise Lines Management Incentive Plan
4