Annual EBITDA Target definition

Annual EBITDA Target has the meaning set forth in Schedule A.

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Annual EBITDA Target means, with respect to each of the 2003, 2004 and 2005 Fiscal Years, actual aggregated EBITDA achieved by Holding, the Company and the Subsidiaries of $60 million; provided, however, that in the event Holding, the Company or any Subsidiary consummates a significant acquisition, disposition or other corporate transaction or series of transactions that, in the judgment of the Board, would reasonably be expected to impact the consolidated earnings of Holding, the Company and the Subsidiaries, the Annual EBITDA Target for the relevant Fiscal Years may be appropriately adjusted by the Board to reflect such transaction or series of transactions.

Annual EBITDA Target means, with respect to each of the five Fiscal Years after the date hereof that are included in the Business Plan, the EBITDA targeted for such Fiscal Year in the Business Plan; provided, however, that in the event Worldwide or any Subsidiary consummates a significant acquisition, disposition or other corporate transaction or series of transactions that, in the judgment of the Board, would reasonably be expected to impact the consolidated earnings of Worldwide and the Subsidiaries, the EBITDA Target for the relevant Fiscal Years may be appropriately adjusted by the Board to reflect such transaction or series of transactions.

Examples of Annual EBITDA Target in a sentence

However, notwithstanding anything in this Employment Agreement to the contrary, the Approved Professional Performance Percentage shall be zero unless the actual Company EBITDA for the respective calendar year equals or exceeds ninety percent (90%) of the Annual EBITDA Target for such calendar year.
In no event shall Employee earn any amount under the Incentive Plan for any calendar year during the Term unless the actual Company EBITDA for such calendar year equals or exceeds ninety percent (90%) of the Annual EBITDA Target for such calendar year.
If the Company does not achieve more than 90% of the Annual EBITDA Target, the Executive will be entitled to no cash bonus.
If the Company achieves more than 100% of the Annual EBITDA Target, the Executive may receive a bonus of up to 100% of Base Salary pursuant to terms established by the Board.
The bonus shall be equal to 50% of the EBITDA Bonus if the Company achieves (as determined by the Board) 100% of the Annual EBITDA Target after the accrual of all management bonuses for such fiscal year and will increase or decrease on a linear basis at a rate of 10% of EBITDA Bonus for each 1% of the Annual EBITDA Target in excess of, or below, 100%, as applicable.
If the Company achieves between 90% and 100% of the Annual EBITDA Target, the cash bonus will be determined by linear interpolation between 0% and 50% of Base Salary.
By way of example, if the Company achieves 95% of the Annual EBITDA Target, the bonus shall be equal to 25% of Base Salary.
The Executive’s target bonus for each fiscal year will be 50% of Base Salary for such fiscal year if the Company achieves 100% of the Annual EBITDA Target for such fiscal year.
Notwithstanding anything in this Employment Agreement to the contrary, the Approved Company Performance Percentage shall be zero unless the actual Company EBITDA for the respective calendar year equals or exceeds the Annual EBITDA Target for such calendar year.
In no event shall Employee earn any amount under the Incentive Plan for any calendar year after 2005 unless the actual EBITDA for such calendar year equals or exceeds ninety percent (90%) of the Annual EBITDA Target for such calendar year.

More Definitions of Annual EBITDA Target

Annual EBITDA Target means, for any year described in the Ancillary Letter, for any revenue level, the amounts calculated from the formula described in the Ancillary Letter for such year for such revenue level.

Annual EBITDA Target means $4,700,000, $7,000,000 and $10,000,000, with respect to the Annual Contingent Consideration Periods ending December 31, 2008, December 31, 2009 and December 31, 2010, respectively, as set forth in Table A.

Annual EBITDA Target means, with respect to each of the 2006, 2007, 2008 and 2009 Fiscal Years, actual aggregated consolidated EBITDA achieved by the Company measured against the targets established by the Compensation Committee at its meeting held on the Effective Date; provided however, that in the event the Company or any affiliate consummates a significant acquisition, disposition or other corporate transaction or series of transactions that, in the judgment of the Compensation Committee, would reasonably be expected to impact the consolidated earnings of the Company or any of its affiliates, the Annual EBITDA Target for the relevant Fiscal Years shall be appropriately adjusted by the Compensation Committee to reflect such transaction or series of transactions.