Common use of Check one box Clause in Contracts

Check one box. ¨ No performance target levels are applicable to this grant of Restricted Shares. ¨ The following performance target levels are applicable to this grant of Restricted Shares. In addition to the continued employment of Participant by (the “Employer”), the lapse of the forfeiture provisions referred to in Section 1 above shall also be conditioned upon the achievement by the Employer and its Subsidiaries, if any, of the following stipulated levels of earnings before interest, taxes, depreciation and amortization (“EBITDA”) for the measurement periods noted below: Measurement Date Measurement Period Percentage of Shares as to which Forfeiture Provisions Lapse EBITDA Target Level1 First anniversary of Grant Date Preceding twelve calendar months 20 % % of Base EBITDA 2 Second anniversary of Grant Date Preceding twelve calendar months 20 % % of Base EBITDA Third anniversary of Grant Date Preceding twelve calendar months 20 % % of Base EBITDA Fourth anniversary of Grant Date Preceding twelve calendar months 20 % % of Base EBITDA Fifth anniversary of Grant Date Preceding twelve calendar months 20 % % of Base EBITDA 1 In computing EBITDA for periods subsequent to , 20 , the Company shall use actual revenues for the relevant measurement period and the expenses used in determining Base EBITDA.

Appears in 5 contracts

Samples: Employment Agreement (Taylor & Martin Group Inc), Employment Agreement (Taylor & Martin Group Inc), Employment Agreement (Taylor & Martin Group Inc)

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