Restructuring Charges. Adjusted Net Income for each fiscal year of the Performance Period and Adjusted Capital as of each quarter end used in calculating Average Adjusted Capital for any fiscal year of the Performance Period shall be adjusted to eliminate the impact of any restructuring charges and exit-related activities as set forth in the audited consolidated statement of operations of the Company and its subsidiaries for the applicable period.
Restructuring Charges. On August 2012, the Company entered into an agreement to sublease its office space in San Francisco under terms generally equivalent to its existing commitment. This lease ended on December 31, 2014, at which time the company no longer had any obligations under the terms of this lease. In the second quarter of 2015, LookSmart incurred $0.2 million in restructuring charges. These expenses include legal and the professional expenses associated with the announcement in April 2015 of the Merger Agreement and the Separation.
Restructuring Charges. In August 2012, the Company entered into an agreement to sublease its office space in San Francisco under terms generally equivalent to its existing commitment. Restructuring costs associated with the sub-lease of the San Francisco office, totaling $0.03 and $0.02 million at December 31, 2014 and 2013, respectively, have been fully amortized as of December 31, 2014.
Restructuring Charges. Adjusted Cash Flow for the last fiscal year of the Performance Period shall be adjusted to eliminate the impact of any restructuring charges and exit-related activities announced by the Company during the last six months of the Performance Period.
Restructuring Charges. In August 2012, the Company entered into an agreement to sublease its office space in San Francisco under terms generally equivalent to its existing commitment. This lease ended on December 31, 2014, at which time the Company no longer had any obligations under the terms of this lease. In the second quarter of 2015, LookSmart incurred $0.2 million in restructuring charges. These expenses include legal and the professional expenses associated with the announcement in April 2015 that LookSmart, Ltd. (LOOK) and privately-held Pyxis Tankers Inc. (“Pyxis”) entered into an Agreement and Plan of Merger (the “Merger Agreement”), whereby Pyxis will become a publicly listed company as a result of the merger between LookSmart, Ltd. (“LookSmart”) and into Pyxis’ wholly-owned subsidiary, Maritime Technologies Corp., a Delaware corporation. On the effective date of the merger, in addition, LookSmart will spin off its existing business into a new entity called LookSmart Group, Inc. (“LookSmart Group”).
Restructuring Charges. The Company and Parent will consult with respect to the character, amount and timing of restructuring charges to be taken by each of them in connection with the transactions contemplated hereby and shall take such charges in accordance with GAAP, as may be mutually agreed upon in a written agreement executed in the same manner as this agreement that specifically references this Section 6.10. No party’s representations, warranties and covenants contained in this Agreement shall be deemed to be untrue or breached in any respect for any purpose as a consequence of any modifications or changes to such policies and practices which may be undertaken on account of this Section 6.10.
Restructuring Charges. Restructuring charges, inclusive of employee termination-related costs to the extent they are part of a management plan (i.e. not individual separations) will be considered an add-back to profitability consistent with the Company’s public reporting of such costs in its periodic earnings reports and filings with the Securities and Exchange Commission.
Restructuring Charges. During the year ended September 30, 1997, the Company recorded a pre- tax restructuring charge of $15.1 ($9.5 after taxes or $.29 per common share) to cover costs associated with the sale of the Company's Branded Business, including severance payments to employees whose jobs were eliminated and financial penalties related to the early termination of information systems contracts. The level of systems support included in these contracts was no longer warranted after the Branded Business sale. Also, during the year ended September 30, 1997, the Company recorded a pre-tax restructuring charge of $4.6 ($2.9 after taxes or $.09 per common share). This charge covered severance costs for certain employees whose jobs were eliminated in downsizing initiatives. For the year ended September 30, 1996, the Company recorded a pre-tax charge of $16.5 ($10.4 after taxes or $.31 per common share) to recognize the costs related to the restructuring of its ready-to-eat cereal subsidiary, Raxxxxx Xoods. As a result of this restructuring plan, certain positions were eliminated from the Raxxxxx Xoods division and corporate support groups, primarily at the Company's headquarters in St. Louis, MO. In addition, the restructuring plan included the partial closing of the Raxxxxx Xoods production facility in Battle Creek, MI. The restructuring charges and their utilization are summarized in the following table. FY 1996 UTILIZED IN FY 1997 UTILIZED IN BALANCE OF CHARGES FY 1996 CHARGES FY 1997 RESERVE -------------------------------------------------------------------------------------------------------------------------- Salaries, severance and benefits $ 8.0 $ (5.0) $ 8.8 $(11.2) $ .6 Asset writedowns 7.3 (7.3) 3.0 (2.2) .8 Contract penalties 6.2 (6.2) - Other 1.2 (.5) 1.7 (1.0) 1.4 --------------------------------------------------------------------------- Total restructuring charges $16.5 $(12.8) $19.7 $(20.6) $2.8 =========================================================================== NOTE 5 - NONRECURRING CHARGES In September 1996, the Company recorded a $109.5 pre-tax impairment charge related to its private label ready-to-eat and hot cereal operations. Dramatic changes in the pricing and promotion environment of the ready-to-eat cereal category and the effect these changes had and will continue to have on the Company's private label cereal business, caused the Company to record this charge. The charge was determined under the provisions of Statement of Financial Accounting...
Restructuring Charges. Adjusted EBITDA, Adjusted Operating Income and Adjusted Net Income for each fiscal year during the Measurement Period shall be adjusted to eliminate the impact of any restructuring charges incurred by the Company during the Measurement Period.
Restructuring Charges. In August 2012, the Company entered into an agreement to sublease its office space in San Francisco under terms generally equivalent to its existing commitment. This lease ended on December 31, 2014, at which time the company no longer had any obligations under the terms of this lease and all restructuring charges have been fully amortized.
