EBITDA Achievement Ratio definition

EBITDA Achievement Ratio. The EBITDA Achievement Ratio for a given period shall be equal to the ratio of EBITDA for such period to the EBITDA Target for such period, provided that (A) if such ratio for any period is less than 0.95, the EBITDA Achievement Ratio for such period shall be 0 and (B) for purposes of Section 3.5, the EBITDA Achievement Ratio for any such period shall not exceed 1.0.
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EBITDA Achievement Ratio means, for any calendar year, the ratio of BSMC’s Contract EBITDA for such calendar year to Budgeted Contract EBITDA for such calendar year; provided, however, that if the foregoing ratio of Contract EBITDA to Budgeted Contract EBITDA is less than 50%, the EBITDA Achievement Ratio for such calendar year shall be deemed to equal 0%. “Contract EBITDA” means, for any calendar year, the sum of BSMC’s (A) net income, plus (B) interest expense, plus (C) income tax expense, plus (D) depreciation, depletion or amortization expense for such calendar year, plus (E) compensation expense associated with grants or issuances of equity interests (including carried interests in real property) to employees or members of the Board or associated with BSMC’s incentive or retention plans or agreements (whether cash or equity) plus (F) dry hole expense, as determined in accordance with United Stated general accepted accounting principles, consistently applied. “Budgeted Contract EBITDA” means, for any calendar year, the Contract EBITDA projected for such calendar year in the annual budget approved by the Board. Employee shall not be entitled to receive an annual performance bonus unless Employee is employed by BSMC on the earlier of the date of payment of the annual performance bonus or the due date thereof, except to the extent otherwise provided in Section 2(d)(i) or 2(d)(ii).
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Examples of EBITDA Achievement Ratio in a sentence

  • Provided the Cumulative EBITDA Achievement Ratio through the end of the Gap Period is at least 1.0, Executive's Base Salary shall be increased for the 1999 Fiscal Year to $265,000.

  • Provided the Cumulative EBITDA Achievement Ratio through the end of the 1999 Fiscal Year is at least 1.0, Executive's Base Salary shall be increased for the 2000 Fiscal Year to $270,000.

  • Provided the Cumulative EBITDA Achievement Ratio through the end of the 2000 Fiscal Year is at least 1.0, Executive's Base Salary shall be increased for the 2001 Fiscal Year to $410,000.

  • Notwithstanding the preceding sentence, at the end of the Gap Period a number of Options equal to the product of 275 5/9 and the EBITDA Achievement Ratio for the Gap Period shall also vest and the number of Options that would have vested as of the end of the 1999 Fiscal Year pursuant to the preceding sentence shall be reduced by the number of Options that vest at the end of the Gap Period pursuant to this sentence.

  • Notwithstanding the preceding sentence, at the end of the Gap Period a number of Options equal to the product of 195 5/9 and the EBITDA Achievement Ratio for the Gap Period shall also vest and the number of Options that would have vested as of the end of the 1999 Fiscal Year pursuant to the preceding sentence shall bc reduced by the number of Options that vest at the end of the Gap Period pursuant to this sentence.

  • Provided the Cumulative EBITDA Achievement Ratio through the end of the 1999 Fiscal Year is at least 1.0, Executive's Base Salary shall be increased for the 2000 Fiscal Year to $385,000.

  • With respect to each calendar year ending during the Employment Term, the annual performance bonus shall equal the product of the EBITDA Achievement Ratio times the Target Bonus.

  • Provided the Cumulative EBITDA Achievement Ratio through the end of the 2000 Fiscal Year is at least 1.0, Executive's Base Salary shall be increased for the 2001 Fiscal Year to $280,000.

  • Provided the Cumulative EBITDA Achievement Ratio through the end of the Gap Period is at least 1.0, Executive's Base Salary shall be increased for the 1999 Fiscal Year to $372,500.