Bonus for Adjusted EBITDA Performance Sample Clauses

Bonus for Adjusted EBITDA Performance. Until changed by written agreement of Company and Employee, Employee’s Adjusted EBITDA Bonus Compensation for achievement of Adjusted EBITDA performance objectives shall be earned based upon the amount of Adjusted EBITDA for such fiscal year, as follows:
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Bonus for Adjusted EBITDA Performance. Until changed by written agreement of Company and Employee, Employee’s Adjusted EBITDA Bonus Compensation for achievement of Adjusted EBITDA performance objectives shall be earned based upon the amount of Adjusted EBITDA for such fiscal year, as follows: Amount of Adjusted EBITDA for Fiscal Year Percentage of Adjusted EBITDA Target Bonus Payout Earned Less than 90% of Adjusted EBITDA Performance Target 0% of Adjusted EBITDA Target Bonus Payout 90.0% to 94.99% of Adjusted EBITDA Performance Target 50% to 74.99% of Adjusted EBITDA Target Bonus Payout 95.0% to 99.99% of Adjusted EBITDA Performance Target 75% to 99.99% of Adjusted EBITDA Target Bonus Payout 100.0% to 104.99% of Adjusted EBITDA Performance Target 100% to 124.99% of Adjusted EBITDA Target Bonus Payout 105.0% to 109.99% of Adjusted EBITDA Performance Target 125% to 149.99% of Adjusted EBITDA Target Bonus Payout 110% and greater of Adjusted EBITDA Performance Target 150% of Adjusted EBITDA Target Bonus Payout The amount of bonus earned shall be determined based upon the amount of Adjusted EBITDA within a specific range, and the amount of such bonus shall be determined by interpolation on a straight- line basis within the applicable range. For purposes of illustration only, the following are examples of computation of Adjusted EBITDA Bonus Compensation earned based upon Adjusted EBITDA performance: (i) if Adjusted EBITDA for a fiscal year is 86% of the Adjusted EBITDA Performance Target, no bonus will be earned for Adjusted EBITDA performance, (ii) if Adjusted EBITDA for a fiscal year is 97% of the Adjusted EBITDA Performance Target, the bonus earned for Adjusted EBITDA performance will be 85% of the Adjusted EBITDA Target Bonus Payout (or .85 x 30% of Base Salary, or 25.5% of Base Salary), (iii) if Adjusted EBITDA for a fiscal year is 99% of the Adjusted EBITDA Performance Target, the bonus earned for Adjusted EBITDA performance will be 95.0% of the Adjusted EBITDA Target Bonus Payout (or .95 x 30% of Base Salary, or 28.5% of Base Salary), (iv) if Adjusted EBITDA for a fiscal year is 107% of the Adjusted EBITDA Performance Target, the bonus earned will be 135% of the Adjusted EBITDA Target Bonus Payout (or 1.35 x 30% of Base Salary or 40.5% of Base Salary) and (v) if Adjusted EBITDA for a fiscal year is 109% of the Adjusted EBITDA Performance Target, the bonus earned will be 145% of the Adjusted EBITDA Target Bonus Payout (or 1.45 x 30% of Base Salary or 43.5% of Base Salary).

Related to Bonus for Adjusted EBITDA Performance

  • Minimum Adjusted EBITDA As of any date of determination from and after April 1, 2008, if Borrowers do not have Net Debt in an amount less than $4,000,000 at all times during the most recently completed fiscal quarter, then Borrowers shall not fail to achieve Adjusted EBITDA, measured on a quarter-end basis, of at least the required amount set forth in the following table for the applicable period set forth opposite thereto (and the failure to do so shall be deemed an Event of Default): Applicable Amount Applicable Period $(1,234,000) For the 3 month period ending March 31, 2008 $(1,246,000) For the 6 month period ending June 30, 2008 $(200,000) For the 9 month period ending September 30, 2008 $(839,000) For the 12 month period ending December 31, 2008 $(750,000) For the 12 month period ending March 31, 2009 17 Applicable Amount Applicable Period $(500,000) For the 12 month period ending June 30, 2009 $(150,000) For the 12 month period ending September 30, 2009 $150,000 For the 12 month period ending December 31, 2009 $350,000 For the 12 month period ending March 31, 2010 $550,000 For the 12 month period ending June 30, 2010 $750,000 For the 12 month period ending September 30, 2010 $950,000 For the 12 month period ending December 31, 2010 and for each 12 month period ending as of the last day of each fiscal quarter thereafter

  • Adjusted EBITDA The 2019 adjusted EBITDA for the Affiliated Club Sellers shall total an aggregate of not less than $10,700,000.

  • Annual Performance Bonus In the discretion of the Company's Compensation Committee, the Executive shall be eligible to receive an annual performance bonus payable in cash for each full or partial fiscal year of the Company during the Employment Period in accordance with the Company's performance-based bonus program for Executive Officers.

  • Minimum EBITDA Section 9.23(c) of the Loan Agreement is hereby deleted in its entirety and replaced with the following:

  • Minimum Consolidated Adjusted EBITDA The Borrowers will maintain, as of the last day of each Fiscal Quarter commencing with the Fiscal Quarter ending December 31, 2009, Consolidated Adjusted EBITDA for the four Fiscal Quarters then ended of not less than $22,500,000.

  • EBITDA With respect to REIT and its Subsidiaries for any period (without duplication): (a) Net Income (or Loss) on a Consolidated basis, in accordance with GAAP, exclusive of the following (but only to the extent included in determination of such Net Income (Loss)): (i) depreciation and amortization expense; (ii) Interest Expense; (iii) income tax expense; (iv) Acquisition Closing Costs and extraordinary or non-recurring gains and losses (including, without limitation, gains and losses on the sale of assets) and income and expense allocated to minority owners; and (v) other non-cash items to the extent not actually paid as a cash expense; plus (b) such Person’s pro rata share of EBITDA of its Unconsolidated Affiliates as provided below. With respect to Unconsolidated Affiliates and Subsidiaries of Borrower that are not Wholly Owned Subsidiaries, EBITDA attributable to such entities shall be excluded but EBITDA shall include a Person’s Equity Percentage of Net Income (or Loss) from such Unconsolidated Affiliates or such Subsidiary of Borrower that is not a Wholly Owned Subsidiary plus its Equity Percentage of (i) depreciation and amortization expense; (ii) Interest Expense; (iii) income tax expense; (iv) Acquisition Closing Costs and extraordinary or non-recurring gains and losses (including, without limitation, gains and losses on the sale of assets) and income and expense allocated to minority owners; and (v) other non-cash items to the extent not actually paid as a cash expense.

  • Financial Performance Covenants Notwithstanding anything to the contrary contained in Section 7.01, in the event that Holdings and the Borrower fail to comply with the requirements of any Financial Performance Covenant, until the expiration of the 10th day subsequent to the date the certificate calculating such Financial Performance Covenant is required to be delivered pursuant to Section 5.04(c), Holdings shall have the right to issue Permitted Cure Securities for cash or otherwise receive cash contributions to the capital of Holdings, and, in each case, to contribute any such cash to the capital of Borrower (collectively, the "Cure Right"), and upon the receipt by Borrower of such cash (the "Cure Amount") pursuant to the exercise by Holdings of such Cure Right such Financial Performance Covenant shall be recalculated giving effect to the following pro forma adjustments:

  • Financial Performance Covenant Upon the occurrence and during the continuance of a Covenant Trigger Event, the Borrower will maintain a Fixed Charge Coverage Ratio of not less than 1.0 to 1.0 measured for the most recent period of four consecutive fiscal quarters for which Required Financial Statements are available (or were required to be furnished) at the time of occurrence of such Covenant Trigger Event, and each subsequent four fiscal quarter period ending during the continuance of such Covenant Trigger Event.

  • Performance Bonuses The Executive will be eligible to receive an annual cash bonus at an annualized rate of up to 40% of his base salary, based on the achievement of reasonable individual and Company performance targets to be established by the Company and Parent.

  • Minimum Consolidated EBITDA The Borrower will not permit Modified Consolidated EBITDA, for any Test Period ending at the end of any fiscal quarter of the Borrower set forth below, to be less than the amount set forth opposite such fiscal quarter: Fiscal Quarter Amount September 30, 1997 $36,000,000 December 31, 1997 $36,000,000 March 31, 1998 $36,000,000 June 30, 1998 $37,000,000 September 30, 1998 $37,000,000 December 31, 1998 $38,000,000 March 31, 1999 $38,000,000 June 30, 1999 $39,000,000 September 30, 1999 $40,000,000 December 31, 1999 $41,000,000 March 31, 2000 $41,000,000 June 30, 2000 $42,000,000 September 30, 2000 $43,000,000 December 31, 2000 $44,000,000 March 31, 2001 $44,000,000 June 30, 2001 $45,000,000 September 30, 2001 $46,000,000 December 31, 2001 $47,000,000 March 31, 2002 $47,000,000

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