Gross Margin Multiplier definition
Gross Margin Multiplier shall be determined as follows by reference to the increase (if any) in the Gross Margin Factor for the Company’s fiscal year ending October 31, 2019 as measured against the Gross Margin Factor for the Company’s fiscal year ending October 31, 2017: Gross Margin Improvement (i.e., increase): Full Fiscal Year 2019 vs. Full Fiscal Year 2017 Applicable Gross Margin Multiplier 0 basis points (or less) 0% 50 basis points 50% ; provided, however, that (a) the applicable Gross Margin Multiplier for gross margin improvement between 0 basis points and 50 basis points or between 50 basis points and 100 basis points shall be determined by linear interpolation and (b) in the event that a Change in Control occurs prior to October 31, 2019, the Gross Margin Multiplier shall be deemed to equal 100%. For the avoidance of doubt, the Gross Margin Multiplier shall be applied to the portion of the target number of MSUs that becomes vested on each Vesting Date as described herein.
Gross Margin Multiplier shall be determined as follows by reference to the increase (if any) in the Gross Margin Factor for the Company’s fiscal year ending October 31, 2018 as measured against the Gross Margin Factor for the Company’s fiscal year ending October 31, 2016: ; provided, however, that (a) the applicable Gross Margin Multiplier for gross margin improvement between 0 basis points and 50 basis points or between 50 basis points and 100 basis points shall be determined by linear interpolation and (b) in the event that a Change in Control occurs prior to October 31, 2018, the Gross Margin Multiplier shall be deemed to equal 100%. For the avoidance of doubt, the Gross Margin Multiplier shall be applied to the portion of the target number of MSUs that becomes vested on each Vesting Date as described herein.
Examples of Gross Margin Multiplier in a sentence
Each MSU represents the unfunded, unsecured right of the Participant to receive a number of Shares (or fraction thereof) determined by reference to the product of the relevant Stock Performance Multiplier and the Gross Margin Multiplier on the date(s) and subject to the terms specified herein.
The Second Net Sales Ratio multiplied by the above Gross Margin Multiplier, payable by check sixty (60) days following the eighteen (18) month anniversary of the Closing Date.