Adjusted EBT definition
Adjusted EBT means, with respect to the Company for any period, the Adjusted Consolidated Net Income of the Company for such period, adjusted to exclude (to the extent included in computing Adjusted Consolidated Net Income) consolidated income tax expense for such fiscal year.
Adjusted EBT is defined in Section 2.5(a).
Adjusted EBT means, with respect to any time period, the earnings before income taxes of the Company for such period, determined in accordance with GAAP, as adjusted by (i) adding back all amortization and depreciation expenses related to the Contemplated Transaction (minus an amount of $16,000), (ii) deducting capitalized software cost and (iii) adding back amortized software cost, all in accordance with GAAP and as set forth and determined in a manner consistent with the methodology set forth on Schedule 1.11. Depreciation for property, plant, equipment and computer equipment is to be included as a deduction in the Adjusted EBT only to the extent it exceeds fifteen thousand Dollars ($15,000) per year for each of the Earn-Out Years.
Examples of Adjusted EBT in a sentence
Following the Closing, the Shareholders shall be entitled to a payment (each, an “Earn-Out Payment”) equal to the Adjusted EBT for each of the Earn-Out Years, as more fully set forth in this Section 1.11.
No Earn-Out Payment shall be due or payable for any Earn-Out Year in which Adjusted EBT is a negative number.