Calculation Examples. Calculation of special payments in the event of a change in normal working hours (Section 9 item 8)
Calculation Examples. Wellness Calculation - Example 1:
a. A teacher’s paycheck shows five hundred sixty-eight (568) unused sick leave hours.
b. The teacher converted eighty (80) hours to $2,039.50 for Career Transition Trust through their retirement date.
c. The teacher’s daily rate of pay was $239.94. The daily rate of pay equals the annual salary divided by one hundred ninety (190) duty days. The annual salary is $45,588; and $45,588/190 days = $239.94.
d. 568 Balance of unused sick leave hours e. + 80 Plus Career Transition Trust hours used through retirement date f. 648 Total sick leave hours (568 + 80) g. 89 Divide by 7.25 to equal unused sick leave days (648/7.25) h. 44.5 Divide by 2 to equal 50% of unused sick leave days (89/2) i. $10,677.33 Multiply 50% of unused sick leave days by daily rate of pay (44.5 x $239.94) j. - $2,039.50 Subtract Career Transition Trust dollars paid through retirement date k. $8,637.83 Total wellness amount ($10,677.33-$2,039.50)
Calculation Examples. Exhibit 3.7 contains illustrative examples of the calculation of the Closing Price Adjustment, using the concepts and formulas set forth in this CHAPTER III.
Calculation Examples. Customer has a subscription to Products A and B. Customer’s annual subscription fees are as follows:
Calculation Examples. The following represent illustrative examples of the calculations set forth in SECTION 2.1 based on a hypothetical Aggregate Conversion Amount of $3,973,926.27 (assuming $9,375,069.89 in total outstanding obligations under the Subordinated Debt, MINUS the Base Amount of $5,401,143.62): EXAMPLE OF SECTION 2.1(A): IF THE EXCHANGE PRICE EQUALS $5.50, THEN THE NOTE STOCK AMOUNT WOULD EQUAL 722,532 SHARES OF XXXXXX COMMON STOCK ($3,973,926.27) DIVIDED BY $5.50). EXAMPLE OF SECTION 2.1(B): IF THE EXCHANGE PRICE EQUALS $4.00, THEN THE NOTE STOCK AMOUNT WOULD EQUAL 794,785 SHARES OF XXXXXX COMMON STOCK ($3,973,926.27) DIVIDED BY THE FLOOR PRICE OF $5.00). EXAMPLE OF SECTION 2.1(C): IF THE EXCHANGE PRICE EQUALS $8.00, THEN THE NOTE STOCK AMOUNT WOULD EQUAL 567,703 SHARES OF XXXXXX COMMON STOCK ($3,973,926.27) DIVIDED BY THE CAP PRICE OF $7.00).
Calculation Examples. For the purposes of further explanation only:
(i) if the Merger Agreement EBITDA for the TTM Period ended 12/31/2021 is $2.6 million, and then is less than $2.5 million in the TTM Period ended 3/31/2022, and then is $2.7 million for TTM Period ended 6/30/2022, then the Buyer will pay to the Shareholders an incremental cash payment of $3.5 million for the TTM Period ended 12/31/2021, but no incremental cash payment with respect to the TTM Periods ended 3/31/2022 and 6/30/2022;
(ii) if the Merger Agreement EBITDA for the TTM Period ended 12/31/2021 is $2.6 million, then the Buyer will pay an incremental cash payment of $3.5 million for such TTM Period; and if the Merger Agreement EBITDA for the TTM Period TTM Period ended March 31, 2022 is $3.6 million, then the Buyer will pay the Shareholders an incremental cash payment of $10.0 million for such TTM Period; if the Merger Agreement EBITDA as of the end of the TTM Periods ended June 30, 2022 and September 30, 2022 are each $2.9 million, then there will be no incremental cash payment for such TTM Period; if the Merger Agreement EBITDA during the final TTM Period ended December 31, 2022 is $4.5 million, then the Buyer will pay the Shareholders an incremental cash payment of $7,625,000 million for such TTM Period;
(iii) if the Merger Agreement EBITDA as of the TTM Period ended December 31, 2022 is $6,250,000, the Shareholders will have earned cumulative cash payments equal to $24,500,000 for achieving a Merger Agreement EBITDA in the TTM Period of at least $5,250,000, plus $4,275,000 for achieving 95% of the $1,000,000 increase needed to achieve the next Merger Agreement EBITDA threshold of $6,250,000. (To the extent that there are any conflicts between the foregoing examples and Annex II, then Annex II shall prevail.)
Calculation Examples. Example 1: Development project of a candy sorting robot with a single strategic member for a period of 9 months
Calculation Examples. Wellness Calculation - Example 1:
a. A teacher’s paycheck shows five hundred sixty-eight (568) unused sick leave hours.
b. The teacher converted eighty (80) hours to $2,039.50 for Career Transition Trust through their retirement date.
c. The teacher’s daily rate of pay was $239.94. The daily rate of pay equals the annual salary divided by one hundred ninety (190) duty days. The annual salary is $45,588; and $45,588/190 days = $239.94.
Calculation Examples. Wellness Calculation - Example 1:
a. A teacher’s paycheck shows five hundred sixty-eight (568) unused sick leave hours.
b. The teacher converted eighty (80) hours to $2,039.50 for Career Transition Trust through their retirement date.
c. The teacher’s Direct Instruction hourly rate of pay shall be the greater of: 1) the Hourly Flat Rate per Schedule “E”, OR, 2) their Direct Instruction hourly rate determined by dividing their step and lane salary at 1.0 FTE per the salary schedule, by the contractual number of duty days per year (190), and further dividing that by the number of hours per day (7.25) at the time of retirement. At the time of retirement their Direct Instruction hourly rate is $38.48 per hour which exceeds the Hourly Flat Rate in Schedule “E”.
d. 568 Balance of unused sick leave hours e. + 80 Plus Career Transition Trust hours used through retirement date f. 648 Total sick leave hours (568 + 80) g. 324 Divide hours by 2 to equal 50% of unused sick leave hours (648/2 = 324) h. $38.48 Apply the hourly rate i. $12,467.52 Multiply 50% of unused sick leave hours by the Direct Instruction Rate of pay (324 x $38.48 = $12,467.52) j. - $2,039.50 Subtract Career Transition Trust dollars paid through retirement date k. $10,428.02 Total Wellness Pay amount ($12,467.52 - $2,039.50 = $10,428.02)
Calculation Examples. For example, if the number of Enplanements in the Terminal for the month of July 2027 is seventy percent (70%) compared to July 2026, the number for August 2027 is seventy-five percent (75%) compared to August 2026, and the number for September 2027 is eighty-five percent (85%) compared to September 2026, then the Severe Decline in Enplanements for Three (3) Consecutive Months has not been met. However, if the number of Enplanements in the Terminal for the month of July 2027 is seventy percent (70%) compared to July 2026, the number for August 2027 is seventy-five percent (75%) compared to August 2026, and the number for September 2027 is seventy-five percent (75%) compared to September 2026, then the Severe Decline in Enplanements for Three (3) Consecutive Months has been met.
