Annual OP Dollar Gate definition
Annual OP Dollar Gate means the minimum operating profit dollars that can be achieved during the Performance Period. Operating profit is determined in accordance with GAAP as reported on the Company's audited financial statements, with adjustments to be made (a) to reverse the impact of a change in accounting method during the Performance Period or (b) for any of the following items that exceed $10 million in any year (the $10 million threshold to be measured separately for each item category):
i. goodwill impairment;
ii. nonrecurring restructuring gains or charges; and
iii. nonrecurring accrual adjustments pertaining to periods outside of the period of measurement.
Annual OP Dollar Gate means the minimum operating profit dollars that can be achieved during the Performance Period. Operating profit is determined in accordance with GAAP as reported on the Company's audited financial statements, with adjustments to be made
Annual OP Dollar Gate means the minimum operating profit dollars that can be achieved during the Performance Period. Operating profit is determined in accordance with GAAP as reported on the Company’s audited financial statements, with adjustments to be made (a) to reverse the impact of a change in accounting method during the Performance Period or (b) for any of the following items that exceed $10 million in any year (the $10 million threshold to be measured separately for each item category):
Examples of Annual OP Dollar Gate in a sentence
Notwithstanding the foregoing, if the Annual OP Dollar Gate of $ _________ is not achieved during the Performance Period, the maximum number of Performance Share Units that can be earned will not exceed the Target Grant.
Notwithstanding the foregoing, if the Annual OP Dollar Gate of $______________ is not achieved during the Performance Period, the maximum number of Performance Share Units that can be earned will not exceed the Target Grant.