Target Operating Income definition

Target Operating Income under the Employment Agreement means 110% of “Operating Income” (as defined in the Employment Agreement) for the fiscal year of the Company ending January 29, 2010.

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Target Operating Income means Six Million Four Hundred Thousand Dollars ($6,400,000) for the Calculation Period.

Target Operating Income is defined as the Operating Income as budgeted in the Partnership Budget. If the actual Operating Income is equal to 80% of the Target Operating Income, no bonus shall be paid. If the actual Operating Income is between 80% and 105% of the Target Operating Income, a bonus shall be paid by Owner to Contractor proportionally equal to 0% to 100% of the available bonus for this measurement. If the actual Operating Income is between 80% and 70%of the Target Operating Income, a penalty shall be paid by Contractor to Owner proportionally equal to 0% to 100% of the available bonus for this measurement. See Exhbit I for further explanation.

Examples of Target Operating Income in a sentence

For purposes of this Agreement, the Committee approved a Target Operating Income RSU Amount of _________________________ (_______) RSUs, consisting of a Target Operating Income RSU Amount of ____________ (_____) RSUs for the 2023 Performance Period and a Target Operating Income RSU Amount of __________________(_____) for the 2024 Performance Period.
Both Operating Income and Target Operating Income may be adjusted by the Committee to reflect mergers, acquisitions and divestures completed during the Performance Period and changes in the Company’s accounting practices and changes in GAAP which affect the comparability of results.
The Operating Income Metric is determined by comparing Operating Income to the Target Operating Income on Schedule A.
After the completion of the applicable Performance Period the Committee shall award the Participant a number of RSUs of between zero and the Target Operating Income RSU Amount (“Operating Income RSUs”), on the Determination Date.
Unless the Shareholder Representative gives notice of its disagreement (a “Dispute Notice”) with Acquiror’s calculations of such Target Revenues, Target Gross Margin, Target Operating Income and Target Gross Profit and the resulting Aggregate Earn-Out Consideration or Earn-Out Payment, as applicable, detailing the amount, nature and detailed basis of such dispute within 20 days after the delivery of the Acquiror Report, Acquiror’s calculations shall be final, conclusive and binding for all purposes.
If Operating Income for the Performance Period is [ ]% of the Target Operating Income, then Awardee will earn [ ] Performance Shares, determined by adding to the Target Number of Performance Shares ([ ] shares) a number of shares ([ ]) calculated by multiplying the difference between the Target Number of Performance Shares and the Maximum Number of Performance Shares ([ ] shares) by a fraction, the numerator of which is [ ]% (i.e., [ ]% - [ ]0%) and the denominator of which is [ ]% (i.e., [ ]% - [ ]%).
Such table sets forth the Company’s Target Operating Income (calculated in accordance with generally accepted accounting principles applied on a consistent basis and consistent with the Company’s Operating Plan for the Plan Year) and the Company’s corresponding Performance Percentages against such Target Operating Income amounts (as set forth in the table).
If the Company’s Operating Income exceeds or is less than the Target Operating Income then the Company Bonus Amount will be increased or decreased in a pro-rata amount pursuant to the Company Performance Percentage set forth on Exhibit B.
None of the Grant RSUs subject to adjustment based on Operating Income will be payable if Operating Income is below $223,388,250 (the “Threshold Operating Income”), which represents 25% of the difference between the Target Operating Income and the Company’s fiscal 2008 operating income.
Please note that the Target Operating Income and Target Bookings figures are Company Confidential and not to be disclosed externally.

More Definitions of Target Operating Income

Target Operating Income means $[ ] million.

Target Operating Income means Target Gross Profits for the applicable Target Earn-Out Period minus total operating expense, which total operating expense shall be determined in a manner consistent with Acquiror’s accounting policies and methodologies and shall include, among other things, expenses for research and development; selling expenses, general and administrative expenses; allocations of corporate expenses; compensation expenses and any other expenses deducted from gross margin in determining operating income as required under GAAP and provided that any payment pursuant to Acquiror’s 2007 Bonus Incentive Plan (and any successor plan or plans thereto or other bonus payments) to which an Earn-Out Eligible Target Shareholder is otherwise entitled, but has elected to forego and which is not paid, shall not constitute an expense included in the determination of total operating expense.

Target Operating Income means the Operating Income projection for the Measurement Period agreed to by the Company's Board of Directors.