Target EBITDA definition

Target EBITDA means, for each fiscal year, the EBITDA set forth in the operating budget of the Company, as approved by the Board, for the particular year.

Target EBITDA means, in respect of a fiscal year and for the applicable class of Unit set forth on Schedule B hereto, the EBITDA amount set forth opposite such year with respect to such class of Unit; provided, that the Board in its sole discretion and without liability to any Person may make any adjustment to EBITDA as it deems to be appropriate (including adjustments made as a result of acquisitions, dispositions, mergers, recapitalizations, reorganizations, consolidations, spin-offs, share dividends, splits or reverse splits, distributions, other extraordinary transactions with respect to any Units, other changes in the structure of the Company or any of its Affiliates, or significant capital expenditures).

Target EBITDA means, for any applicable calendar year, a projected EBITDA established annually for purposes of this Agreement by the Compensation Committee of the Board, together with the Employee; provided that the 2000 Target EBITDA shall be $17,600,000.

Examples of Target EBITDA in a sentence

• For clarity, if EBITDA is under 90% of Target EBITDA, then Executive shall not receive any bonus based on EBITDA.

• If, for a particular year, the Company’s EBITDA for the year equals or exceeds 90% of Target EBITDA (for clarity, if EBITDA is under 90% then Rating Bonus will not be considered or awarded), then if the Compensation Committee determines, in its sole discretion, that Executive achieved an Individual Rating Criteria as set forth in the chart below, then the Compensation Committee shall further determine the corresponding Rating Bonus percentage based on the chart below.

• If, for a particular year, the Company’s EBITDA for the year is less than Target EBITDA (as defined below) but equals or exceeds 90% of Target EBITDA, then Executive’s EBITDA Bonus shall be equal to the product of (A) 14% plus the product of 1.4% times each full one percentage point positive variance to 90% of Target EBITDA, times (B) Executive’s Base Salary.

• If, for a particular year, the Company’s EBITDA for the year is more than Target EBITDA but less than 110% of Target EBITDA, then Executive’s EBITDA Bonus shall be equal to the product of (A) 28% plus the product of 1.4% times each full one percentage point positive variance to Target EBITDA, times (B) Executive’s Base Salary.

• If, for a particular year, the Company’s EBITDA for the year equals or exceeds 110% of Target EBITDA, then Executive’s EBITDA Bonus shall be equal to (A) 42% times (B) Executive’s Base Salary.

More Definitions of Target EBITDA

Target EBITDA means, $153.7 million in respect of 2004, $238.1 million in respect of 2005, $267.6 million in respect of 2006, $261.9 million in respect of 2007 and $212.2 million in respect of 2008; provided, that the Board may make any adjustment to EBITDA as it deems to be appropriate (including adjustments made as a result of acquisitions, dispositions, mergers, recapitalizations, reorganizations, consolidations, spin-offs, distributions, other extraordinary transactions, other changes in the structure of the Company or any of its Affiliates, or significant capital expenditures so that Target EBITDA equitable reflects the basis for determining Actual EBITDA for the period in question).

Target EBITDA means the annual performance goal for the Company approved by the Board in its reasonable discretion with the input of Executive, with Target EBITDA for fiscal 1999 being $85,400,000. The Board shall use reasonable efforts to determine Target EBITDA for any fiscal year after 1999 no later than the 90th day of the fiscal year of the Company to which it relates.

Target EBITDA means, for any fiscal year, the amount set forth in the table below opposite such fiscal year subject to adjustment on a pro forma basis, if and to the extent determined appropriate by the Board, to reflect any acquisitions or dispositions effected by Holdings or any of its subsidiaries after the date hereof. ANNUAL EBITDA TARGET ----------- ------------- EBITDA FISCAL YEAR (in millions) ----------- ------------- 2000 $ 88.6 ----------- ------------- 2001 $ 106.8 ----------- ------------- 2002 $ 109.9 ----------- ------------- 2003 $ 111.4 ----------- ------------- 2004 $ 116.4 ----------- -------------

Target EBITDA for any calendar year means the EBITDA reflected in the Approved Annual Budget for such calendar year.

Target EBITDA means, with respect to any Person for any period, the net income for such Person for such period plus the sum of the amounts for such period included in determining such net income in respect of (i) interest expense, (ii) income tax expense, and (iii) depreciation and amortization expense, in each case as determined in accordance with GAAP.

Target EBITDA means the sum of the EBITDA targets established by the Committee for each Oct. 1-Sept. 30 period during the Performance Period. The target EBITDA will be communicated to you within the fourth quarter of each calendar year within the Performance Period.

Target EBITDA shall have the meaning given to such term in Section 3.3.3(a) hereof.