Award Calculation. Your Award will be calculated as follows:
Award Calculation. Participant(s) have selected and been deemed eligible for Manufactured Home Replacement assistance from the CDBG-DR Program. NCORR will manage the assistance Participant(s) receive from the Program. Based on the information provided by the Participant(s) and reviewed by the Program Management Contractor, the Participant(s) are eligible to receive the Grant Amount based on the Program’s estimate of the costs necessary to remove the manufactured home damaged by the flood, replace and install either a new economy/standard singlewide manufactured home or a new economy/standard doublewide manufactured home, as applicable. The Grant Amount is not based on the value of the damaged home or the cost of a new manufactured home of Participant’s choosing. The Grant Amount is based on the lower of the actual cost expended to install a comparable manufactured home, or the cap established by the Program for replacement of the damaged home. Replacement housing must be HUD certified, meet local code requirements and HQS standards, and be within the National Automobile Dealers Association (NADA) retail value to qualify. The Grant Amount is subject to adjustment based on any Duplication of Benefits (“DOB”) received by the Participant(s) (as further described below), regardless of when those benefits are received. Participants (s) must deposit the amount determined to be a DOB into a bank account controlled by the State in a non-interest-bearing escrow account. (“Escrow Account”). Participant(s) have received and consented to NCORR’s calculation of the value of the replacement home, less any DOB and the calculation of the final Grant Amount, as shown on Exhibit A (“Calculation of Grant Award”) attached hereto. Participant(s) are responsible for providing gap financing for the replacement home if the amount to replace the home exceeds the Grant Amount. Participant(s) are advised and agree that additional information may be required by NCORR to determine that the Grant Amount was properly calculated. Participant(s) should maintain all records, receipts, invoices and other documentation related to any repairs, construction, or clean-up of the Damaged Home for no less than seven (7) years from the date of this Agreement. Participant(s) will provide the documentation to NCORR upon request.
Award Calculation. Participant(s) have selected and been deemed eligible for assistance for rehabilitation and/or elevation and reimbursement from the CDBG-DR Program. NCORR will manage the assistance Participant(s) receive from the Program. Based on the information provided by the Participant(s) and reviewed by the Program Management Contractor, the Participant(s) are eligible for the Award (1) to pay an authorized Contractor for the rehabilitation and/or elevation services deemed necessary by the Program inspectors to make the damaged home decent, safe and sanitary, and (2) to reimburse the Participant(s) for eligible out-of-pocket expenses related to the rehabilitation and/or elevation of the damaged property paid by Participant(s) prior to the execution of this Agreement. The necessary rehabilitation and/or elevation is based on a Scope of Work determined by a damage assessment made by the Program and using economy/standard grade building materials determined by industry software prices and not the price of replacing the damaged property or its components with like or similar materials. The work to be conducted on the damaged property is set out in the rehabilitation and/or elevation estimate attached as Exhibit B “Scope of Work,” and any Change Order(s) approved by NCORR and the Participant(s). Participant(s) have received and consent to NCORR’s calculation of the value of the Scope of Work, and the calculation of the final Grant Amount, including any reduction to the applicable eligible percentage as shown on Exhibit B. To be eligible for reimbursement under the Program, eligible expenses necessary for the rehabilitation and/or elevation of the damaged home are priced based on economy/standard grade building materials determined by industry software prices and not actual expenses incurred by the Participant(s). In-kind services, services performed by Participant(s) family, and donated services or materials are not eligible for reimbursement. Participant(s) have received and consented to NCORR estimate of reimbursable expenses, less any DOB, and the calculation of the final Grant Amount as shown in Exhibit A. Participant(s) acknowledge that the Grant Amount is not calculated or intended to be equal to or based on the actual amount spent by the Participant(s) on repairs. The inspector’s valuation of the work completed and eligible for reimbursement is attached hereto as Exhibit C (“Reimbursement Estimates.”) The Grant Amount may be limited to a percentage of the cost of ...
Award Calculation. Participant(s) have selected and been deemed eligible for assistance for rehabilitation and elevation from the CDBG-DR Program. NCORR will manage the assistance Participant(s) receive from the Program. Based on the information provided by the Participant(s) and reviewed by the Program Management Contractor, the Participant(s) are eligible for the Award to pay an authorized Contractor for the rehabilitation and elevation services deemed necessary by the Program inspectors to make the damaged home decent, safe and sanitary. The necessary rehabilitation and elevation is based on a Scope of Work determined by a damage assessment made by the Program and using economy/standard grade building materials determined by industry software prices and not the price of replacing the damaged property or its components with like or similar materials. The work to be conducted on the damaged property is set out in the rehabilitation and elevation estimate attached as Exhibit B “Scope of Work,” and any Change Order(s) approved by NCORR and the Participant(s). Participant(s) have received and consent to NCORR’s calculation of the value of the Scope of Work, and the calculation of the final Grant Amount, including any reduction to the applicable eligible percentage as shown on Exhibit B. The Grant Amount may be limited to a percentage of the cost of the Scope of Work based on Program eligibility policies. The Grant Amount is subject to adjustment based on approved Change Order(s) and any Duplication of Benefits (“DOB”) received by the Participant(s) (as further described below), regardless of when those benefits are received. Participants (s) must deposit the amount determined to be a DOB into a bank account controlled by the State in a non-interest-bearing escrow account. (“Escrow Account”). Participant(s) have received and consented to NCORR’s calculation of the value of the rehabilitation of the home, plus elevations costs, less any DOB and the calculation of the Grant Amount, as shown on Exhibit A (“Calculation of Grant Award”) attached hereto. Participant(s) are responsible for providing gap financing if the amount to rehabilitate and elevate the home exceeds the final Grant Amount. Participant(s) are advised and agree that additional information may be required by NCORR to determine that the Grant Amount was properly calculated. Participant(s) should maintain all records, receipts, invoices and other documentation related to any demolition, repairs, elevation or construct...
Award Calculation. Participant(s) have selected and been deemed eligible for assistance for reimbursement from the CDBG-DR Program. NCORR will manage the assistance Participant(s) receive from the Program. Based on the information provided by the Participant(s) and reviewed by the Program Management Contractor, the Participant(s) are eligible for the Award to reimburse the Participant(s) for eligible out-of-pocket expenses related to the rehabilitation and/or elevation of the damaged property paid by Participant(s) prior to the execution of this Agreement.
Award Calculation. (a) Subject to the terms and conditions set forth in the Plan and this Agreement, including, without limitation, Sections 5 and 8, your Award is equal to the dollar amount obtained by multiplying the following five numbers: your Base Salary, Target Award Percentage, Total Performance Score (expressed as a percentage), Individual Performance Multiplier, and Annual
Award Calculation. The determination of the amount of the payout, if any, under the Award will be calculated by multiplying the Participant’s Award Percentage by the Participant’s Base Salary. The calculation formulas are illustrated below. Target Multiplier * Participant’s applicable Target Bonus Percentage = Award Percentage Award Percentage * Base Salary = Final Cash Award payable under the Plan Illustrative Example: Below is an illustrative example of a calculation for a potential payout under the Award for a sample participant with a Base Salary of $100,000. Table 2. Illustrative Example: Example of Individual Target Bonus Percentage from Table 1 Example of Target Multiplier interpolated from Performance Matrix Example of Total Award Percentage (AxB) Example of Base Salary Example of Estimated final Cash Award payable under the Plan (CxD) A B C D E 50.0 % 120 % 60 % 100,000 60,000 Adjustments: The Compensation Committee of the Unitrin, Inc. Board of Directors may, in its discretion:
Award Calculation. In the manner required by Section 162(m) of the Code, the Committee shall, promptly after the date on which the necessary financial and other information for the Performance Period becomes available, certify the extent to which Performance Targets have been achieved. Using the Performance Schedule, the Committee shall determine the Performance Percentage and multiply the Target Award by such Performance Percentage in order to arrive at the amount payable under this Award; provided, however, that the Committee may, in its discretion, reduce or eliminate the amount payable under this Award based on such factors as it may deem relevant.
Award Calculation. The actual Award for each Performance Cycle shall be determined according to the following formula: Award = Funding Ratio for the Performance Cycle x Target Award Amount EBITDA EBITDA is an abbreviation for "Earnings Before Interest, Taxes, Depreciation and Amortization." It is calculated by taking all profits, operating and non-operating, before deducting interest, income taxes, depreciation, amortization, and asset impairment, but including cash dividends received from Associates. The intent of EBITDA is to analyze a company's operating profitability before such non-operating expenses as interest and taxes and non-cash charges (depreciation and amortization and asset impairment). It also represents a measure of the Company’s success in operating the existing assets for the Plan year. EBITDA is calculated as follows: Net Income Add Total Interest Expense and Accounts Receivable Securitization Interest and Fees Deduct Total Interest Income Add Provision For Taxes Add Depreciation-Total Add Amortization-Total Add Asset Impairment Add Other non-cash unusual items including inventory fair value revaluation step up impacts due to an acquisition Add Cash dividends received from Associates The target EBITDA for MTI purposes is set at the beginning of the effective performance cycle and typically represents as a target the EBITDA forecast of the current year LRP (long range plan). If extraordinary events occur during the calendar year which alters the basis upon which the EBITDA is calculated, the effect of these events, with the Company’s approval, may be removed from or added to EBITDA. Events warranting this action may include, but are not limited to, major acquisitions, divestitures, or recapitalization. LYONDELLBASELL INDUSTRIES AF S.C.A. MID-TERM INCENTIVE PLAN AWARD AGREEMENT 2008-2009 AWARD SCHEDULE A-1 – MTI FUNDING FOR 2009 PAYOUT MTI Funding Percentages The MTI Funding Percentages are determined according to EBITDA performance with threshold funding starting at $3.5B for the one-year Performance Cycle as follows: EBITDA Below $3.5B $3.5B $3.55B $3.6B $3.65B $3.7B $3.75B Over $3.75B MTI Funding Percentage 0% 0.167% 0.200% 0.233% 0.267% 0.300% 0.333% 0.333% MTI funding percentages shall be interpolated between the values listed in the chart above. MTI Pool Budgeted Pool = ((2008 Budgeted EBITDA x 2) + 2009 Budgeted EBITDA) x MTI Funding Percentage = ($5.3B + $5.3B + $4.8B) x .333% = $51.33MM Actual Pool = Actual EBITDA for 2008 x MTI Funding Percentage (...
