Calculating EBITDA. For the avoidance of doubt, for the purposes of calculating EBITDA any profit achieved by any member of the Group as a result of a purchase, transfer or assignment of any Commitment or participation in any Utilisation under the Facilities Agreement shall not be taken into account.
Calculating EBITDA. A. Budgeted EBITDA as used in this Plan shall be defined as the budgeted EBITDA approved by the Board.
Calculating EBITDA. A. EBITDA as used in this Plan shall be defined as the aggregate EBITDA for (i) each of the Company’s business units reduced by all corporate-level expenses (including legal fees) or (ii) the applicable division specified on the Statement reduced by all attributable expenses. Specifically, the Company’s EBITDA under the Plan shall be reduced by the amount of all excess incentive payments made under the Company’s incentive compensation plans.
B. The Administrator, in his sole and absolute discretion, shall determine (i) the Company’s final EBITDA and (ii) any other target established under the Plan (e.g., departmental costs). The Administrator reserves the right to prevent any short-term financial manipulation of the Company that might adversely affect its long-term health.
C. The Administrator may exclude extraordinary items and special situations from the calculation of the applicable EBITDA. Specifically, one-time gains from the sale of subsidiaries or other assets that are not reflected in the EBITDA target may be excluded from the calculation of the Company’s EBITDA.
D. If extraordinary circumstances (such as market swings, management restrictions, audit results or accounting procedure changes) should affect the applicable EBITDA, the Administrator may review those effects to ensure that their impact is equitable to the participants and the Company under the terms of the Plan.
Calculating EBITDA. A. EBITDA (including rack amortization add-back) as used in this Plan shall be defined as net revenues from advertising, subscription, newsstand sales and all other ancillary revenues including, without limitation, list rental and consumer products, less the cost of goods sold and selling and general and administrative expenses of the magazine which includes any expense properly charged and applicable to the magazine and incurred in the normal course of business (including legal fees). In calculating such EBITDA, all (i) Incentive Payments made under the AMI Circulation Incentive Plan, the AMI EBITDA Incentive Plan and any other Incentive Plan and (ii) all commissions paid on advertising revenues shall be deducted.
B. The Administrator shall determine the final EBITDA of a magazine in a good faith commercially reasonable manner. The Administrator reserves the right to prevent any short-term financial manipulation of any magazine that might adversely affect its long-term health.
C. The Administrator, acting in a good faith commercially reasonable manner, may exclude extraordinary items and special situations from the calculation of EBITDA. Specifically, among other things, rate savings from paper prices and any renegotiation of printing contracts, promotion spending variances and changes in the cover price that are not reflected in the EBITDA target may be excluded from the calculation of EBITDA.
D. If extraordinary circumstances either negative or positive (such as market swings, management restrictions, audit results or accounting procedure changes) should affect the EBITDA of a magazine, the Administrator may review those effects to ensure that their impact is equitable to the participants and American Media, Inc. under the terms of the Plan.
