Business Achievement definition
Business Achievement means the level of financial performance EBITDA (Earnings Before Interest, Taxes, Depreciation and Amortization) against targets established by the Company, in its sole discretion, for that year based on the scope of a Participant’s role within the Company. Business achievement comprises 50% of the Achievement Percentage and may be broken down into worldwide target EBITDA, regional target EBITDA and Country or Division target EBITDA, in the Company’s sole discretion. EBITDA, subject to adjustment by the Company in its sole discretion (“Adjusted EBITDA”) is the financial measure used to evaluate business achievement. Adjusted EBITDA for each target measured with respect to a Participant (i.e., worldwide, regional and/or Country or Division, as applicable) must reach at least 80% of the target established by the Company for that year in order for there to be a bonus payout attributable to that target.
Business Achievement means the level of financial performance of the Company against worldwide, regional, country or division targets established by the Company for that year based on the scope of a participant’s role within the Company. For 2011, the Compensation Committee chose EBITDA (earnings before interest, taxes, depreciation and amortization) as the financial measure used to evaluate Business Achievement. EBITDA, which is a non-GAAP measure, is used by our management as a supplemental internal measure for planning and forecasting expectations in our business groups and for evaluating actual results against such expectations. We selected EBITDA as the measure for Business Achievement to facilitate performance comparisons from period to period.