Company's Backlog Margin definition
Company's Backlog Margin means the amount obtained by subtracting (i) the Buyer's direct expenses associated with the Backlog Revenue (as hereinafter defined), plus an amount equal to thirty-one percent (31%) of the salary/labor costs included in such direct expenses from (ii) the Revenue recognized by the Buyer and the Sellers in 2002, from the licensing or servicing of Seller Products under the agreements listed on Exhibit 1.10 hereto, excluding (A) maintenance revenue and (B) the revenue identified on Exhibit 1.10 as having been recognized by the Company prior to January 1, 2002 (even if such revenue is subsequently "debooked" and recognized by the Buyer) (the revenue in this clause (ii) being herein referred to as the "Company's Backlog Revenue").
Examples of Company's Backlog Margin in a sentence
Within fifteen (15) days after the last day of each month during the Earnout Period (commencing with February 2002), the Buyer shall deliver to the Company Equity Holder Representative a statement setting forth in reasonable detail the calculation of the Gross Margin, Incremental Revenue, Pipeline Revenue and the Company's Backlog Margin for the immediately preceding month.