EBITDA Budget definition

EBITDA Budget means the EBITDA budget amount as determined annually in the Approved Budget by the Board;
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EBITDA Budget for such Bonus Year specified in Exhibit A (as adjusted), then the EBITDA Bonus for such Bonus Year shall be the sum of (i) $50,000, plus (ii) 20% of the amount (if any) by which (A) the remainder of the Company EBITDA for such Bonus Year after deducting $50,000, exceeds (B) the applicable EBITDA Budget for such Bonus Year, except that the portion of the EBITDA Bonus under this clause (ii) shall not exceed the applicable “Bonus Cap” in the following table for the corresponding Bonus Year: 2005 $ 125,000 2006 $ 150,000 2007 $ 175,000 2008 $ 200,000 2009 $ 225,000 2010 $ 250,000 2011 $ 270,000 For example, if the Company EBITDA for a particular Bonus Year was $3,000,000 and the applicable EBITDA Budget for such year was $2,500,000, then the EBITDA Bonus for such Bonus Year would be the sum of (i) $50,000, plus (ii) (0.20 x ($2,950,000 — $2,500,000)), which calculation results in an EBITDA Bonus of $140,000 (subject to limitation under the Bonus Cap if applicable). The EBITDA Bonus for any Bonus Year under this paragraph (b) shall be due and payable on May 31 of the year following the Bonus Year (such May 31 date being referred to as the “Payment Date”), and is payable in cash or in registered shares of HMC’s common stock (as provided below), or partially in cash and partially in stock, as determined by HMC in its sole discretion (it being contemplated that registered stock, if issued, may be issued pursuant to one of HMC’s shareholder-approved compensation plans or otherwise in compliance with Nasdaq listing (or other stock listing) requirements applicable to HMC, as determined by HMC in its sole discretion). If HMC elects to pay an EBITDA Bonus or portion thereof in shares of stock, HMC shall issue and deliver or cause to be issued and delivered to the Employee, on a date (the “Issue Date”) which shall be on or within 10 days after the Payment Date, such number of shares (the “Bonus Shares”) of common stock of HMC (or its successor) equal to the quotient of (i) the dollar amount of the bonus to be paid in stock (the “Stock Payment Amount”), divided by (ii) the “Fair Market Value” (as defined below) per share of such common stock as of the Issue Date. The issuance of such shares is subject to withholding if applicable as provided under Section 3(g) hereof. The Employee agrees to comply with applicable securities laws in connection with any sales of Bonus Shares and any shares issued under Section 3(a) above or 3(c) below, or any acquisition or sale of shares...
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EBITDA Budget is as follows for the following “Bonus Years” (subject to adjustment as provided): EBITDA Budget: (12 months ending December 31:) EBITDA Budget: 2005: $ 2,200,000 2006: $ 2,640,000 2007: $ 3,168,000 2008: $ 3,801,600 2009: $ 4,561,920 2010: $ 5,474,305 2011: $ 6,569,165 Each Bonus Year is a 12 consecutive month (one calendar year) period ending on December 31 of the year indicated. The parties agree that in the event that the Company or HMC or any of their respective subsidiaries purchases or acquires (by stock purchase, merger, asset purchase or otherwise) any business unit or operations or assets of Tribune Company or Tribune Media Services, such acquisition shall result in an adjustment to the EBITDA Budget in the same manner as any other acquisition under Section 3 below.
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Examples of EBITDA Budget in a sentence

  • Executive shall be eligible for compensation of Ten Thousand Dollars ($10,000) for each quarter the Non-Broadcast Division meets or exceeds the EBITDA Budget set for the Non-Broadcast Division for the applicable quarter.

  • Executive shall be eligible for compensation of Six Thousand Eight Hundred Dollars ($6,800) for each year the Regnery business unit meets or exceeds the Revenue Budget set for the Regnery business unit for the applicable year, and Six Thousand Eight Hundred Dollars ($6,800) for each year the Regnery business unit meets or exceeds the EBITDA Budget set for the Regnery business unit for the applicable year.

  • Executive shall be eligible for compensation of Eight Thousand Five Hundred Dollars ($8,500) for each quarter the Non-Broadcast Division meets or exceeds the EBITDA Budget set for the Non-Broadcast Division for the applicable quarter.

  • Executive shall be afforded the opportunity to earn a cash bonus for each calendar year ending during the Employment Term, contingent upon the Company's achievement of certain specified target earnings before interest, taxes, depreciation and amortization (the "EBITDA Budget") established prior to each July 31st in respect of the fiscal year commencing thereafter, by the Board or a committee thereof in its discretion (but after consultation with Executive).

  • For each calendar year in the Employment Period, the Board shall establish bonus levels based on the Company's actual consolidated earnings before interest, taxes, depreciation and amortization ("EBITDA") as compared to a budgeted level of EBITDA ("Budget EBITDA").

  • Three Year Incentive Plan for Period Ending 6/30/04 - AEP Results Accumulative EBITDA = $95M 50% Base Salary** Accumulative EBITDA = $100M 75% Base Salary** Accumulative EBITDA = $105M 100% Base Salary** (**Base Salary As Of June 30, 2004) Definition: Accumulative EBITDA Target = $100M Accumulative EBITDA Budget = $91.420M 3.

  • Annual Performance Bonus Plan) combined for the [ ]Performance Year and [ ] Performance Year is at least equal to the combined sum of $[ ]plus the [ ] Adjusted EBITDA budget goal as approved by the Board of Directors in connection with the Company’s annual budgeting process (“[ ] Adjusted EBITDA Budget Goal”).

  • Executive shall be eligible for compensation of Three Thousand Four Hundred Dollars ($3,400) for each quarter the Broadcast Division meets or exceeds the Adjusted EBITDA Budget set for the Broadcast Division for the applicable quarter.

  • If for calendar year 2022, the Company achieves 80% of its EBITDA Budget target (as adopted by the Board for 2022) at the conclusion of the 2022 calendar year and upon the filing of the Company’s Form 10K, then you will be eligible to receive 20,000 shares of the Company’s common stock.

  • Executive shall be eligible for compensation of Two Thousand Eight Hundred Dollars ($2,800) for each quarter the Non-Broadcast Division meets or exceeds the EBITDA Budget set for the Non-Broadcast Division for the applicable quarter.