Target Level Clause Samples
The Target Level clause defines a specific benchmark or performance standard that must be achieved under the agreement. This clause typically sets quantitative or qualitative goals, such as sales targets, service levels, or production outputs, which the parties are expected to meet within a certain timeframe. By clearly establishing these expectations, the clause helps measure performance and provides a basis for evaluating compliance, thereby ensuring accountability and reducing ambiguity in the parties' obligations.
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Target Level. 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) 50% plus the product of 2.5% times each full one percentage point positive variance to Target EBITDA, times (B) Executive’s Base Salary. For example, if actual EBITDA is 107.6% of Target EBITDA, then Executive’s EBITDA Bonus shall be equal to 67.5% times Executive’s Base Salary (50% + (2.5% x 7) = 67.5%).
Target Level. If, for a particular fiscal year, the Company’s EBITDA for such fiscal year is equal to or greater than Target EBITDA but less than or equal to [***]% of Target EBITDA, then Executive’s EBITDA Bonus shall be equal to the product of (i) 90.0% plus the product of 3.0% times each full one percentage point positive variance to Target EBITDA, times (ii) Executive’s Target Bonus. For example, if actual EBITDA is [***]% of Target EBITDA, then Executive’s EBITDA Bonus shall be equal to [***]% times Executive’s Target Bonus (90.0% + (3.0% x [***]) = [***]%).
Target Level. If, for a particular year, the Bicycle Division’s EBITDA for the year is more than Target Division EBITDA but less than 110% of Target Division EBITDA, then Executive’s Division EBITDA Bonus shall be equal to the product of (i) 8% plus the product of 0.4% times each full one percentage point positive variance to Target Division EBITDA, times (ii) Executive’s Base Salary. For example, if actual Division EBITDA is 107.3% of Target Division EBITDA, then Executive’s Division EBITDA Bonus shall be equal to 10.8% times Executive’s Base Salary (8% + (0.4% x 7) = 10.8%).