Carnival Cruises 2012 Annual Report Download - page 67

Download and view the complete annual report

Please find page 67 of the 2012 Carnival Cruises annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 135

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90
  • 91
  • 92
  • 93
  • 94
  • 95
  • 96
  • 97
  • 98
  • 99
  • 100
  • 101
  • 102
  • 103
  • 104
  • 105
  • 106
  • 107
  • 108
  • 109
  • 110
  • 111
  • 112
  • 113
  • 114
  • 115
  • 116
  • 117
  • 118
  • 119
  • 120
  • 121
  • 122
  • 123
  • 124
  • 125
  • 126
  • 127
  • 128
  • 129
  • 130
  • 131
  • 132
  • 133
  • 134
  • 135

results between 72% and 97% as well as results between 103% and 123% will be calculated using interpolation.
ii. The Committees may then consider other factors deemed, in their discretion, relevant to the performance of the Corporation, 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 Committees may also consider other factors they deem, in their discretion, relevant to the performance of the
Corporation or each individual participant, including, but not limited to, operating performance metrics (such as return on investment,
revenue yield, costs per available lower berth days), 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 Committees 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 Committees may adjust a participant’s bonus amount for any unpaid leaves 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 Committees. At the discretion of the Committees, 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 Committees. The Committees at
their sole discretion, may increase, decrease or withhold bonuses.
7. DURATION OF PLAN
The Plan will be effective until terminated by the Committees.
8. AMENDMENT OF PLAN
The Committees may amend the Plan from time to time in such respects as the Committees may deem advisable.
Approved by the Compensation Committees: January 15, 2008 and amended July 12, 2008, October 13, 2008 October 07, 2012
CC-01608 - Carnival Corporation & plc Management Incentive Plan for the CEO, COO and CFO
3