EBITDA Budget definition

EBITDA Budget means the EBITDA budget amount as determined annually in the Approved Budget by the Board;
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EBITDA Budget for such Bonus Year specified in Exhibit A (as adjusted), then the EBITDA Bonus for such Bonus Year shall be the sum of (i) $50,000, plus (ii) 20% of the amount (if any) by which (A) the remainder of the Company EBITDA for such Bonus Year after deducting $50,000, exceeds (B) the applicable EBITDA Budget for such Bonus Year, except that the portion of the EBITDA Bonus under this clause (ii) shall not exceed the applicable “Bonus Cap” in the following table for the corresponding Bonus Year: Bonus Year Bonus Cap 2005 $ 125,000 2006 $ 150,000 2007 $ 175,000 2008 $ 200,000 2009 $ 225,000 2010 $ 250,000 2011 $ 270,000 For example, if the Company EBITDA for a particular Bonus Year was $3,000,000 and the applicable EBITDA Budget for such year was $2,500,000, then the EBITDA Bonus for such Bonus Year would be the sum of (i) $50,000, plus (ii) (0.20 x ($2,950,000 — $2,500,000)), which calculation results in an EBITDA Bonus of $140,000 (subject to limitation under the Bonus Cap if applicable). The EBITDA Bonus for any Bonus Year under this paragraph (b) shall be due and payable on May 31 of the year following the Bonus Year (such May 31 date being referred to as the “Payment Date”), and is payable in cash or in registered shares of HMC’s common stock (as provided below), or partially in cash and partially in stock, as determined by HMC in its sole discretion (it being contemplated that registered stock, if issued, may be issued pursuant to one of HMC’s shareholder-approved compensation plans or otherwise in compliance with Nasdaq listing (or other stock listing) requirements applicable to HMC, as determined by HMC in its sole discretion). If HMC elects to pay an EBITDA Bonus or portion thereof in shares of stock, HMC shall issue and deliver or cause to be issued and delivered to the Employee, on a date (the “Issue Date”) which shall be on or within 10 days after the Payment Date, such number of shares (the “Bonus Shares”) of common stock of HMC (or its successor) equal to the quotient of (i) the dollar amount of the bonus to be paid in stock (the “Stock Payment Amount”), divided by (ii) the “Fair Market Value” (as defined below) per share of such common stock as of the Issue Date. The issuance of such shares is subject to withholding if applicable as provided under Section 3(g) hereof. The Employee agrees to comply with applicable securities laws in connection with any sales of Bonus Shares and any shares issued under Section 3(a) above or 3(c) below, or any acquisit...
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EBITDA Budget is as follows for the following “Bonus Years” (subject to adjustment as provided): EBITDA Budget: Bonus Year (12 months ending December 31:) EBITDA Budget: 2005: $ 2,200,000 2006: $ 2,640,000 2007: $ 3,168,000 2008: $ 3,801,600 2009: $ 4,561,920 2010: $ 5,474,305 2011: $ 6,569,165 Each Bonus Year is a 12 consecutive month (one calendar year) period ending on December 31 of the year indicated. The parties agree that in the event that the Company or HMC or any of their respective subsidiaries purchases or acquires (by stock purchase, merger, asset purchase or otherwise) any business unit or operations or assets of Tribune Company or Tribune Media Services, such acquisition shall result in an adjustment to the EBITDA Budget in the same manner as any other acquisition under Section 3 below.
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Examples of EBITDA Budget in a sentence

  • Executive shall be eligible for compensation of Six Thousand Eight Hundred Dollars ($6,800) for each year the Regnery business unit meets or exceeds the Revenue Budget set for the Regnery business unit for the applicable year, and Six Thousand Eight Hundred Dollars ($6,800) for each year the Regnery business unit meets or exceeds the EBITDA Budget set for the Regnery business unit for the applicable year.

  • Executive shall be eligible for compensation of Ten Thousand Dollars ($10,000) for each quarter the Non-Broadcast Division meets or exceeds the EBITDA Budget set for the Non-Broadcast Division for the applicable quarter.

  • Executive shall be eligible for compensation of Eight Thousand Five Hundred Dollars ($8,500) for each quarter the Non-Broadcast Division meets or exceeds the EBITDA Budget set for the Non-Broadcast Division for the applicable quarter.

  • For 2023, the Adjusted EBITDA Budget Target shall comprise 60% of the total Annual Target Bonus Pool, the Distributable Cash Flow Budget Target shall comprise 25% of the total Annual Target Bonus Pool and the Departmental Budget Target shall comprise the remaining 15% of the total Annual Target Bonus Pool.

  • While the Funded Bonus Pool will reflect an aggregation of performance under each Bonus Pool Payout Factor the performance of Adjusted EBITDA Budget Target shall drive calculation of the Bonus Pool, as no other targets shall be considered unless the Adjusted EBITDA Target results is at least 80% of its Budget Target.

  • Executive shall be afforded the opportunity to earn a cash bonus for each calendar year ending during the Employment Term, contingent upon the Company's achievement of certain specified target earnings before interest, taxes, depreciation and amortization (the "EBITDA Budget") established prior to each July 31st in respect of the fiscal year commencing thereafter, by the Board or a committee thereof in its discretion (but after consultation with Executive).

  • For each calendar year in the Employment Period, the Board shall establish bonus levels based on the Company's actual consolidated earnings before interest, taxes, depreciation and amortization ("EBITDA") as compared to a budgeted level of EBITDA ("Budget EBITDA").

  • Therefore, should EBITDA Results exceed EBITDA Budget, they become self funded and must be added to the EBITDA Budget for the purpose of calculating bonuses under the Plan.

  • The EBITDA Budget anticipates and includes Support Center bonus payments.

  • A Member shall be eligible to receive an annual incentive payment in the following amount: the Member's Salary times the Multiplier in Exhibit B that corresponds to the EBITDA Budget for the Plan Year.

Related to EBITDA Budget

  • CapEx Budget means the annual budget covering the planned Capital Expenditures for the period covered by such budget. The CapEx Budget shall not include Discretionary Capital Expenditures.

  • Budget means a resource, expressed in financial terms, proposed by the Board for the purpose of carrying out, for a specific period, any or all of the functions of the Trust.

  • Capital Expenditure Budget shall constitute an estimate for the applicable period of the capital expenditures required to (i) accomplish capital enhancement projects included in the most recently approved Strategic Plan, (ii) maintain and preserve the Partnership's assets in good operating condition and repair and (iii) achieve or maintain compliance with any HSE Law.

  • BASE budget means the minimum general fund budget of a district, which includes 80% of the basic

  • Approved Budget means an annual budget-

  • Annual Budget means the operating budget, including all planned capital expenditures, for the Property prepared by Borrower for the applicable Fiscal Year or other period.

  • Operating Budget has the meaning given in Section 3.11(a).

  • Capital Budget has the meaning given in Section 3.11(a).

  • Annual Operating Budget has the meaning set forth in Section 4.11.

  • DIP Budget means a projected statement of sources and uses of cash for the Borrower and the Guarantors on a weekly basis for the following 13 calendar weeks. As used herein, “DIP Budget” shall initially refer to the initial 13-week projection delivered in accordance with Section 6.2 and thereafter shall refer to the most recent 13-week projection delivered by the Borrower in accordance with Section 9.1(c).

  • Material Project EBITDA Adjustments means, with respect to each Material Project:

  • Project Budget means the budget and project description included in the grant application. The Project Budget must succinctly describe all major elements of project work, the estimated cost of each, and clearly allocate requested grant funding and match contributions to each.

  • Development Budget shall have the meaning set forth in Section 3.3.

  • Approved Project Budget means the most recent statement, approved by the FTA, of the costs of the Project, the maximum amount of Federal assistance for which the TJPA is currently eligible, the specific tasks (including specified contingencies) covered, and the estimated cost of each task.

  • EBITDA Target means the Company's projected earnings before interest, taxes, one-time transition expenses, non-cash compensation expense charges, depreciation and amortization, as contained in the Company's budget for the Applicable Period and which is approved by the Board (without reference to any adjustments or revision, upwards or downwards, to such projected earnings which are subsequently approved by the Board as part of any subsequent revision to such budget), and (ii) the term "Financial Results" shall mean the Company's EBITDA calculated by reference to the Company's financial statements for the Applicable Period as filed with the Securities and Exchange Commission (the "SEC").

  • Project Year means the 12 month period beginning from the Effective Date and ending 12 months thereafter and each successive 12 month period following thereafter;

  • Budget year means the financial year of the municipality for which an annual budget is to be approved in terms of section 16(1) of the MFMA;

  • Net Capital Expenditures means for any period the amount by which Capital Expenditures during such period exceeds reimbursements for such items during such period from any fund established pursuant to the Loan Documents.

  • Research Budget has the meaning set forth in Section 4.2.

  • Initial Budget has the meaning set forth in Section 7.06(a).

  • Construction Budget means the fully-budgeted costs for the acquisition and construction of a given parcel of real property (including, without limitation, the cost of acquiring such parcel of real property, reserves for construction interest and operating deficits, tenant improvements, leasing commissions, and infrastructure costs) as reasonably determined by the Parent in good faith.

  • Adjusted EBITDA Margin means Adjusted EBITDA divided by operating revenue;

  • Expansion Capital Expenditures means cash expenditures for Acquisitions or Capital Improvements. Expansion Capital Expenditures shall include interest (including periodic net payments under related interest rate swap agreements) and related fees paid during the Construction Period on Construction Debt. Where cash expenditures are made in part for Expansion Capital Expenditures and in part for other purposes, the General Partner shall determine the allocation between the amounts paid for each.

  • Property EBITDA means for any property owned by Ventas, Inc. or any of its Subsidiaries as of the date of determination, for any period of time, the net income (loss) derived from such property for such period, before deductions for (without duplication):

  • Approved Capital Expenditures means Capital Expenditures incurred by Borrower and either (i) included in the Approved Annual Budget or (ii) approved by Lender, which approval shall not be unreasonably withheld or delayed.