Digital Revenue definition
Examples of Digital Revenue in a sentence
If the actual cumulative Free Cash Flow at the end of the Free Cash Flow Measuring Period is at least 85% of Free Cash Flow Target and/or if the actual Digital Revenue at the end of Digital Revenue Measuring Period is at least 44.4% of Digital Revenue Target, the number of shares of Restricted Stock shall vest as described above on the 60th day (the “Vesting Date”) following the last day of the applicable Measuring Period.
The extent to which the Company achieves the Free Cash Flow Target and/or the Digital Revenue Target shall be determined by the Compensation Committee.
The amount of the Award that is eligible to vest in accordance with Section 4 of this Agreement shall be determined by calculating the Adjusted EBITDA and Digital Revenue for each Cycle and comparing it to the Adjusted EBITDA and Digital Revenue performance criteria and metrics established by the Committee for such Cycle (the “Amount Eligible to Vest”).
The performance criteria and metrics for the Award shall be based on the Company’s achievement of Adjusted EBITDA and Digital Revenue, with equal weighting of each metric, with three one-calendar year cycles against goals to be approved by the Compensation Committee (the “Committee”), with objectives established at the beginning of each calendar-year cycle (each, a “Cycle”), and with one-third of the Target Amount subject to each Cycle.
The Digital Revenue Restricted Stock shall vest if, and only to the extent that, the Company achieves specified “Digital Revenue” (defined as revenue derived from advertising sold online, through mobile devices and other digital platforms) (the “Digital Revenue”) targets (the “Digital Revenue Target”) for the Company’s 2019 fiscal year (the “Digital Revenue Measuring Period”).
If the actual Digital Revenue achieved at the end of the Digital Revenue Measuring Period is in excess of 100% of Digital Revenue Target, Grantee (if otherwise vested) shall vest in a number of shares of Additional Shares of Digital Revenue Restricted Stock as calculated below.
If the actual Digital Revenue achieved at the end of the Digital Revenue Measuring Period is 155.6% or more of Digital Revenue Target, Grantee (if otherwise vested) shall receive and vest in a number of shares of Additional Shares equal to 100% of the number of shares of Digital Revenue Restricted Stock set forth above.
If the actual Digital Revenue achieved at the end of the Digital Revenue Measuring Period is below 155.6% of Digital Revenue Target but in excess of 100% of Digital Revenue Target, Grantee (if otherwise vested) shall receive and vest in a number of shares of Additional Shares determined by interpolating between the number of shares of Digital Revenue Restricted Stock that vest upon 100% of Digital Revenue Target and 200% of that number of shares of Stock.
If the Adjusted EBITDA or Digital Revenue is between two points of the applicable performance criteria and metrics, then the “Amount Eligible to Vest” shall be determined by linear interpolation.
If the Grantee remains employed by the Company through the third anniversary of the Grant Date (the “Vesting Date”), then the Grantee will be paid the Amount Eligible to Vest in accordance with Section 5 of this Agreement based on the achievement of the Adjusted EBITDA and Digital Revenue performance criteria and metrics for the Cycles.