|CARNIVAL CORP filed this Form DEF 14A on 03/07/2019|
Potential Payments Upon Termination or Change of Control
practice where they believe doing so would be in the best interests of Carnival Corporation and Carnival plc and their shareholders. The Compensation Committees will continue to consider the individual circumstances of each case taking account of best practice in the UK and the U.S. and the expected cost to Carnival Corporation & plc of any termination of an executives employment arrangements.
Accordingly, Messrs. Bernstein, Kruse and Perez have no employment agreements and no entitlement to severance except for possible retention of unvested restricted share grants depending on the circumstances of their separation of employment discussed below.
Messrs. Donald and Thamm are our only Named Executive Officers with employment agreements providing cash severance and other benefits. The table below details the various payments associated with certain termination events. Payment outcomes associated with the treatment of equity is detailed in the Potential Value of Equity Grants upon Termination of Employment or Change of Control section.
Post-Employment Cash Compensation Obligations to Mr. Donald. Upon termination of Mr. Donalds employment, he will be entitled to certain payments as follows:
Post-Employment Compensation Obligations to Mr. Thamm. Mr. Thamm is eligible to receive 12 months of base salary plus his target bonus if his employment is terminated, as compensation for his non-competition and non-solicitation obligations.