Illustrative Example. Inputs: S = Underlying Security Price X = Exercise Price PV(X) = Present value of the Exercise Price, discounted at a rate of R = X * (e^-(R * T)) V = Volatility R = continuously compounded risk free rate = 2 * [ ln (1 + Interest Rate / 2) ] T = Time to Expiration W = warrant value per underlying share Z = number of shares underlying warrants Value = total warrant value Formulaic inputs: D1 = [ ln [ S / X ] + (R + (V^2 / 2)) * T)] ÷ (V * ÖT) D2 = [ ln [ S / X ] + (R - (V^2 / 2)) * T)] ÷ (V * ÖT) Black-Scholes Formula W = [N(D1) * S] — [N(D2) * PV(X)] Where “N” is the cumulative normal probability function Value = W * Z
Illustrative Example. (i) Chemical A was dissolved in 0.010 M pH 7.0 buffer. The solution was filtered through a 0.2 )m filter, air saturated, and analyzed. It contained 1.7×10 ¥5 M A, five-fold less than its water solubility of 8.5×10 ¥5 M at 25 °C. A uv spectrum (1-cm path length) versus buffer blank showed no absorbance greater than 0.05 in the wavelength interval 290 to 825 nm, a condition required for the Phase 2 pro- tocol. The 180 mL mixture was diluted by the addition of 20 mL of SHW stock solution.
Illustrative Example. (i) From Phase 2 testing, under paragraph (c)(6)(iii) of this section, chemical A was found to have a photolysis rate constant, (kp)SHW′ of 0.30 d¥1 in fall in round tubes at latitude 33° N. Using Table 1 under paragraph (d)(1)(vii) of this section for 30° N, the nearest decadic latitude, a fall value of ka equal to 333 d¥1 is found for PNAP. Substitution of (kp)SHW and ka into Equation 15 under paragraph (d)(2)(i) of this section gives [PYR] = 0.0242 M. This is the concentration of pyridine that gives an actinometer rate constant of 0.30 d¥1 in round tubes in fall at this latitude.
Illustrative Example. The Indicative Price Bids shall be submitted by the various bidders in the following format:
Illustrative Example. Hours Worked PP1 + Hours Worked PP2 / 160 x 8 = Holiday Pay 32 hrs.(PP1) + 56 hrs.(PP2) / 160 x 8 = 4.4 hrs. Holiday Pay
Illustrative Example. If actual performance is between performance levels, the Applicable Percentage will be prorated between such performance levels. The following example illustrates the method of such proration. Assume that in the year 2007 the actual Operating Ratio was 79.6%, actual EBITDA was $551 million and actual ROCE was 8.8%. The difference between the 2007 Target Operating Ratio and the actual 2007 Operating Ratio is .2, representing 15.4% of the difference between the 2007 Target Operating Ratio and the 2007 Maximum Operating Ratio (i.e., .2/(79.8-78.5)). Thus, the Operating Ratio earned percentage before weighting would be 115%. The difference between the 2007 Target EBITDA and the actual 2007 EBITDA would be $2 million, representing 2% of the difference between the 2007 Target EBITDA and the 2007 Maximum EBITDA (i.e., 2/(649-549)). Thus, the EBITDA earned percentage before weighting would be 102%. The difference between the 2007 Target ROCE and the actual 2007 ROCE would be .2, representing 13% of the difference between the 2007 Target ROCE and the 2007 Maximum ROCE (i.e., .2/(10.1-8.6)). Thus, the ROCE earned percentage before weighting would be 113%. Finally, each metric would be multiplied by the appropriate weighting factor and the weighted earned percentages would be added together to determine the earned percentage. In this example the weighted earned percentage would be 111.25%, as demonstrated in the table below: Earned Operating Ratio EBITDA ROCE Percentage A. 2007 Actual 78.6% $551 million 8.8%
Illustrative Example. Executive has been awarded 100 PSUs for Period One, 100 PSUs for Period Two and 100 PSUs for Period Three. If for Period One the Operating Income is $ (75% of the Operating Income Performance Target) and Operating Margin is (less than Threshold), for Period Two the Operating Income is $ ( % of the Operating Income Performance Target) and the Operating Margin is ( % of the Operating Margin Performance Target) and for Period Three, Operating Income is $ ( % of the Operating Income Performance Target) and Operating Margin is ( % of the Operating Margin Performance Target), then provided that the Additional Vesting Condition is met, Shares shall be delivered to the Executive between March 5 and March 15, 201 , plus a cash payment equal to shares multiplied by the Fair Market Value of a Share on March 5, 201 . The shares were determined by adding (1) Shares for Period One, (2) Shares for Period Two ( Shares for meeting the Operating Income Performance Target and Shares for meeting the Operating Margin Performance Target) and (3) ) for Period Three ( shares for achieving % of the Operating Income Performance Target and shares for achieving % of the Operating Margin Performance Target), rounding down by fractional shares.
Illustrative Example. An illustrative example of the calculation of the purchase price for each Business is set forth on Annex B attached hereto.
Illustrative Example. For purposes of illustration only, Exhibit C sets forth example calculations of the adjustments required to be made pursuant to Section 3.5(e) and Section 3.5(f).
Illustrative Example. Below is an illustrative example of a calculation for a potential payout under the Award for a sample participant with a Base Salary of $100,000. Table 2. Illustrative Example: Example of Individual Target Bonus Percentage from Table 1 Example of Target Multiplier interpolated from Performance Matrix Example of Total Award Percentage (AxB) Example of Base Salary Example of Estimated final Cash Award payable under the Plan (CxD) A B C D E 50.0% 120% 60% 100,000 60,000 Adjustments: The Compensation Committee of the Unitrin, Inc. Board of Directors may, in its discretion, make adjustments to the established performance goals applicable to this Award to reflect changes to the job responsibilities of the Participant or the structure of the Company or its Affiliates that relate directly to such established performance goals for all or a portion of the applicable Performance Period; provided, however, that no such adjustment shall be made to an Award to an employee whose compensation is subject to Section 162(m) of the Internal Revenue Code of 1986, as amended, if such adjustment would cause the compensation payable under the Award to fail to qualify as performance-based compensation under Section 162(m).
