Controllable Operating Profit definition
Controllable Operating Profit as used in this Agreement shall mean, for any entity with respect to any period, an amount equal to the EBITDA (as defined on Schedule I hereto) of such entity in such period, adjusted by (i) adding back the general and administrative expenses of such entity in such period, to the extent deducted in computing the EBITDA in such period, and (ii) excluding all income and expenses (other than general and administrative expenses) of such entity in such period that do not relate directly to trade sales.
Examples of Controllable Operating Profit in a sentence
Executive shall be entitled to receive with respect to each fiscal year during the Employment Term a nondiscretionary bonus (the “Sales Bonus”) in an amount equal to .511% of the combined Controllable Operating Profit of the Company and International in such year.