SEC Contract Filing

Filing Date: 2015-07-01

Document Content:
<DOCUMENT>
<TYPE>EX-10.3
<SEQUENCE>4
<FILENAME>ex_10x3xq22015.htm
<DESCRIPTION>EXHIBIT 10.3
<TEXT>
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<a name="sF5D6308C16494F0599CFC48EEA321ADB"></a><div><div style="line-height:120%;text-align:left;text-indent:576px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"></font><font style="font-family:inherit;font-size:12pt;font-weight:bold;">Exhibit 10.3</font></div></div><br><div style="line-height:120%;text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-weight:bold;">CARNIVAL CORPORATION &amp; PLC</font></div><div style="line-height:120%;text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-weight:bold;">MANAGEMENT INCENTIVE PLAN</font></div><div style="line-height:120%;text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman; font-size:10pt;"><tr><td style="width:24px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:12pt;padding-left:0px;"><font style="font-family:inherit;font-size:12pt;">1.</font></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:justify;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">OBJECTIVE</font></div></td></tr></table><div style="line-height:120%;text-align:justify;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;text-align:justify;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">This Carnival Corporation &amp; plc Management Incentive Plan (the &#8220;</font><font style="font-family:inherit;font-size:12pt;font-weight:bold;">Plan</font><font style="font-family:inherit;font-size:12pt;">&#8221;) is designed to focus the attention of certain officers and employees of Carnival Corporation &amp; plc and/or its subsidiaries (the &#8220;</font><font style="font-family:inherit;font-size:12pt;font-weight:bold;">Corporation</font><font style="font-family:inherit;font-size:12pt;">&#8221;) on achieving outstanding performance results as reflected in the operating income of the Corporation and, to the extent applicable, the operating income of one or any combination of the following entities, operating companies or business divisions: (1) the Holland America Group, (2)&#160;Holland America Line, (3) Seabourn Cruise Line, (4) Carnival Australia, (5) Carnival Cruise Line, (6)&#160;Carnival UK, (7)&#160;Cunard Line, (8)&#160;P&amp;O Cruises, (9)&#160;Princess Cruises, (10)&#160;Global Fine Arts, (11)&#160;Costa Cruises, (12) Costa Asia, (13) AIDA Cruises, or (14) any other operating company of the Corporation (each individually and, as applicable, collectively a &#8220;</font><font style="font-family:inherit;font-size:12pt;font-weight:bold;">Brand</font><font style="font-family:inherit;font-size:12pt;">&#8221;), as well as other relevant measures.</font></div><div style="line-height:120%;text-align:justify;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman; font-size:10pt;"><tr><td style="width:24px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:12pt;padding-left:0px;"><font style="font-family:inherit;font-size:12pt;">2.</font></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:justify;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">PLAN ADMINISTRATION</font></div></td></tr></table><div style="line-height:120%;text-align:justify;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;text-align:justify;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">The administrators of the Plan are the Compensation Committees of the Boards of Directors of the Corporation (the &#8220;</font><font style="font-family:inherit;font-size:12pt;font-weight:bold;">Compensation</font><font style="font-family:inherit;font-size:12pt;">&#32;</font><font style="font-family:inherit;font-size:12pt;font-weight:bold;">Committees</font><font style="font-family:inherit;font-size:12pt;">&#8221;). Notwithstanding anything herein to the contrary, the Compensation Committees shall administer the Plan and have sole discretion in resolving any questions regarding the administration or terms of the Plan not addressed in this document, as well as in resolving any ambiguities that may exist in this document, with respect to Plan participants who are &#8220;</font><font style="font-family:inherit;font-size:12pt;font-weight:bold;">Executive</font><font style="font-family:inherit;font-size:12pt;">&#32;</font><font style="font-family:inherit;font-size:12pt;font-weight:bold;">Officers</font><font style="font-family:inherit;font-size:12pt;">&#8221; (as defined by Rule 16a-1 of the Securities Exchange Act) of the Corporation. </font></div><div style="line-height:120%;text-align:justify;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;text-align:justify;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">The Compensation Committees may delegate the authority to administer the Plan with respect to participants who are not Executive Officers of the Corporation, as follows:</font></div><div style="line-height:120%;text-align:justify;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><table cellpadding="0" cellspacing="0" style="font-f