EBIT CAGR. EBIT CAGR during the Performance Period will be the compound annual growth rate of the total earnings before income and taxes (“EBIT”) for the Company, or applicable Segment(s), during the third fiscal year of the Performance Period compared to the Base Year EBIT. “Base Year EBIT” is the total EBIT of the Company, or applicable Segment, during the fiscal year immediately preceding the Performance Period. The calculation of EBIT CAGR will include results from businesses acquired during the Performance Period. EBIT CAGR will exclude results for any businesses divested during the Performance Period, and the divested businesses’ EBIT will also be deducted from Base Year EBIT. EBIT CAGR will exclude (i) results from non-operating branches, (ii) certain currency and hedging-related gains and losses, (iii) gains and losses from asset disposals, (iv) items that are outside the scope of the Company’s core, on-going business activities, and (v) with respect to Segments, all amounts relating to corporate allocations. EBIT CAGR will be adjusted to eliminate gain, loss or expense, as determined in accordance with standards established under Generally Accepted Accounting Principles, (i) from non-cash impairments; (ii) related to loss contingencies identified in footnotes to the financial statements in the Company’s 10-K relating to the fiscal year immediately preceding the Performance Period; (iii) related to the disposal of a segment of a business; or (iv) related to a change in accounting principle. The 50% of your Award allocated to EBIT CAGR will vest according to the following schedule. Payouts will be interpolated for results falling between the levels shown. If, during the Performance Period, your responsibilities shift due to a transfer or a corporate restructuring (a “Reassignment”), the 50% of your Award allocated to EBIT CAGR will be reallocated as follows:
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Samples: Performance Stock Unit Award Agreement (Leggett & Platt Inc), Performance Stock Unit Award Agreement (Leggett & Platt Inc), Performance Stock Unit Award Agreement (Leggett & Platt Inc)
EBIT CAGR. EBIT CAGR during the Performance Period will be the compound annual growth rate of the total earnings before income and taxes (“EBIT”) for the Company, or applicable Segment(s)Profit Centers, during the third fiscal year of the Performance Period compared to the Base Year EBIT. “Base Year EBIT” is the total EBIT of the Company, or applicable SegmentProfit Centers, during the fiscal year immediately preceding the Performance Period. The calculation of EBIT CAGR will include results from businesses acquired during the Performance Period. EBIT CAGR will exclude results for any businesses divested during the Performance Period, and the divested businesses’ EBIT will also be deducted from Base Year EBIT. EBIT CAGR will exclude (i) results from non-operating branches, (ii) certain currency and hedging-related gains and losses, (iii) gains and losses from asset disposals, (iv) items that are outside the scope of the Company’s core, on-going business activities, and (v) with respect to SegmentsProfit Centers, all amounts relating to corporate allocations. EBIT CAGR will be adjusted to eliminate gain, loss loss, or expense, as determined in accordance with standards established under Generally Accepted Accounting Principles, (i) from non-cash impairments; (ii) related to loss contingencies identified in footnotes to the financial statements in the Company’s 10-K relating to the fiscal year immediately preceding the Performance Period; (iii) related to the disposal of a segment of a business; or (iv) related to a change in accounting principle. The 50% of your Award allocated to EBIT CAGR will vest according to the following schedule. Payouts will be interpolated for results falling between the levels shown. EBIT CAGR% EBIT CAGRVesting % If, during the Performance Period, your responsibilities shift due to a transfer or a corporate restructuring (a “Reassignment”), the 50% of your Award allocated to EBIT CAGR will be reallocated as follows:
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Samples: Performance Stock Unit Award Agreement (Leggett & Platt Inc)
EBIT CAGR. EBIT CAGR during the Performance Period will be the compound annual growth rate of the total earnings before income and taxes (“EBIT”) for the Company, or applicable Segment(s)Profit Centers, during the third fiscal year of the Performance Period compared to the Base Year EBIT. “Base Year EBIT” is the total EBIT of the Company, or applicable SegmentProfit Centers, during the fiscal year immediately preceding the Performance Period. The calculation of EBIT CAGR will include results from businesses acquired during the Performance Period. EBIT CAGR will exclude results for any businesses divested during the Performance Period, and the divested businesses’ EBIT will also be deducted from Base Year EBIT. EBIT CAGR will exclude (i) results from non-operating branches, (ii) certain currency and hedging-related gains and losses, (iii) gains and losses from asset disposals, (iv) items that are outside the scope of the Company’s core, on-going business activities, and (v) with respect to SegmentsProfit Centers, all amounts relating to corporate allocations. EBIT CAGR will be adjusted to eliminate gain, loss or expense, as determined in accordance with standards established under Generally Accepted Accounting Principles, (i) from non-cash impairments; (ii) related to loss contingencies identified in footnotes to the financial statements in the Company’s 10-K relating to the fiscal year immediately preceding the Performance Period; (iii) related to the disposal of a segment of a business; or (iv) related to a change in accounting principle. The 50% of your Award allocated to EBIT CAGR will vest according to the following schedule. Payouts will be interpolated for results falling between the levels shown. <2 % 0 % 2 % 75 % 4 % 100 % 6 % 125 % 8 % 150 % 10 % 175 % 12 % 200 % >12 % 200 % If, during the Performance Period, your responsibilities shift due to a transfer or a corporate restructuring (a “Reassignment”), the 50% of your Award allocated to EBIT CAGR will be reallocated as follows:
Appears in 1 contract
Samples: Performance Stock Unit Award Agreement (Leggett & Platt Inc)