Plan EBITDA means, for each Performance Year, the dollar amount of EBITDA set forth in the Annual Operating Plan to be developed by management and approved by the Board. Plan EBITDA will be adjusted from time to time as may be mutually agreed upon to reflect the expected contribution to EBITDA of acquisitions or major corporate projects.
Plan EBITDA means, for any fiscal year of the Company and its consolidated subsidiaries, the forecasted EBITDA number set forth on Schedule 2 attached hereto; provided, however, that Plan EBITDA may be changed at the sole discretion of the Board to account for (i) any acquisition or disposition by, or merger or other business combination of, the Company or (ii) capital expenditures for any fiscal year exceeding $15 million in the aggregate. Notwithstanding the above, if on or prior to December 31, 2007 there is any underwritten public offering of securities of the Company, the Company’s parent or EnergySolutions Group, Inc. pursuant to an effective registration statement under the Securities Act of 1933 (“IPO”), the Company and Executive agree and acknowledge that the excess performance bonus that is provided for in this Agreement shall be eliminated (including the elimination of all references to the excess bonus plan in this Agreement) and the Executive hereby waives any payments with respect thereto that may have become payable from time to time, if not for the elimination of such excess performance bonus, and as consideration therefore, the Executive shall be entitled to receive a one-time lump sum payment of $2,344,000, less any applicable withholding taxes, on the closing of the IPO. In the event of an IPO, the Executive will, at the Company’s request, enter into an amendment of this Agreement to reflect the appropriate entity as the “Company”.
Plan EBITDA means with respect to any Applicable Year, the Company’s budgeted EBITDA as reviewed and accepted by the Board annually. Plan EBITDA includes a deduction for a total Company budgeted amount of Annual Incentive Bonus Payout.The Threshold, Target and Maximum EBITDA dollars, with respect to any Applicable year, are included in Appendix A.
Examples of Plan EBITDA in a sentence
Our compensation committee believes that Plan EBITDA is a primary indicator to our stockholders of overall business health, and its use achieves our desire to use a measure of profitability that drives stockholder value creating behaviors.
If Plan EBITDA and comparable store sales growth were 100% of the established targets, our executive officers would be each entitled to receive 100% of such officer’s respective Target Bonus.
Such vesting for the earlier Performance Year is referred to herein as "Catch Up Vesting." In the event of an Acquisition, any Eligible ETA Stock which shall have failed to vest as a result of the Company's failure to achieve the dollar amount of Plan EBITDA required to vest 100% of the then Eligible ETA Stock shall become subject to the Company's Purchase Option in Section 3 of the Agreement.
No incentive award is payable to executives unless a pre-established minimum Plan EBITDA goal is achieved.
If actual EBITDA as a percentage of Plan EBITDA falls within one of the gradations specified below, the percentage of Base Salary specified below will be earned in even increments within the relevant gradation.
More Definitions of Plan EBITDA
Plan EBITDA means, for each Performance Year, the dollar amount of EBITDA set forth in the Operating Plan approved by the Board of Directors. Plan EBITDA will be adjusted from time to time as may be mutually agreed upon to reflect the expected contribution to EBITDA of acquisitions or major corporate projects. JOINT ESCROW INSTRUCTIONS July 10, 1998 Xxxx Xxxxxx c/o Brentwood Associates 00000 Xxxxx Xxxxxx Xxxxxxxxx Los Angeles, California 90025 Dear Sir or Madam: As the person identified herein as Escrow Agent for HDA Parts System, Inc. (the "Company"), an Alabama corporation, and the undersigned holder of common stock, par value $.01 per share, and Series B Preferred Stock, par value $.01 per share, of the Company (the "Purchaser"), you are hereby authorized and directed to hold the documents delivered to you pursuant to the terms of that certain Stock Purchase Agreement (the "Agreement") dated as of July 10, 1998, in accordance with the following instructions:
Plan EBITDA means, for any period, the expected Consolidated EBITDA for such period, as presented in reasonable detail in an Updated Budget, with such changes as may be approved by Lender, in its sole discretion. “Prepayment Amount” has the meaning specified in Section 2.03(c).
Plan EBITDA means with respect to any Applicable Year, the Company’s budgeted EBITDA as reviewed and accepted by the Board annually. Plan EBITDA includes a deduction for a total Company budgeted amount of Annual Incentive Bonus Payout.
Plan EBITDA means, for each Performance Year, the dollar amount of EBITDA set forth in the Operating Plan approved by the Board of Directors. Plan EBITDA will be adjusted from time to time as may be mutually agreed upon to reflect the expected contribution to EBITDA of acquisitions or major corporate projects. JOINT ESCROW INSTRUCTIONS July 7, 1998 Xxxx Xxxxxx c/o Brentwood Associates 00000 Xxxxx Xxxxxx Xxxxxxxxx Los Angeles, California 90025 Dear Sir or Madam: As the person identified herein as Escrow Agent for City Trucks and Trailer Parts, Inc. (the "Company"), a Delaware corporation, and the undersigned holder of common stock, par value $.01 per share, of the Company (the "Purchaser"), you are hereby authorized and directed to hold the documents delivered to you pursuant to the terms of that certain Stock Purchase Agreement (the "Agreement") dated as of July 1, 1998, in accordance with the following instructions:
Plan EBITDA means, for each Performance Year, the dollar amount of EBITDA set forth in the Operating Plan approved by the Board of Directors. Plan EBITDA will be adjusted from time to time as may be mutually agreed upon to reflect the expected contribution to EBITDA of acquisitions or major corporate projects. ANNEX B JOINT ESCROW INSTRUCTIONS September 7, 1999 Mark Xxxxxx x/x Brentwood Associates 11150 Xxxxx Xxxxxx Xxxxxxxxx Xxx Angeles, California 90025 Joint Escrow Instructions Dear Sir or Madam: As the person identified herein as Escrow Agent for Silver Cinemas International, Inc. (the "Company"), a Delaware corporation, and the undersigned holder of common stock, par value $.01 per share, of the Company and Convertible Preferred Stock, par value $.01 per share, of the Company (the "Purchaser"), you are hereby authorized and directed to hold the documents delivered to you pursuant to the terms of that certain Stock Purchase Agreement (the "Agreement") dated as of September 7, 1999, to which a copy of these Joint Escrow Instructions is attached as Annex B, in accordance with the following instructions:
Plan EBITDA means the net income of the Company and its subsidiaries for Fiscal 2012, before interest, taxes, depreciation, amortization and stock based compensation expense on a pre-bonus basis. Notwithstanding the foregoing, (i) the Award, to the extent not previously forfeited under the terms of this Agreement, shall become immediately vested in full upon a Change of Control of the Company, and (ii) the percentage of the Award earned, if any, based on the level of achievement of Plan EBITDA for Fiscal 2012 shall become immediately vested in full upon the Participant’s Termination of Service after the end of Fiscal 2012 due to his or her death or
Plan EBITDA means, (i) with respect to each of the Company’s fiscal years set forth in the table below, the amount set forth across from such fiscal year in the table below and (ii) with respect to the Company’s 2016 fiscal year and each fiscal year thereafter an amount equal to 1.08 multiplied by the Plan EBITDA in effect for the immediately preceding fiscal year. Notwithstanding anything to the contrary herein, the Plan EBITDA for any particular fiscal year shall be adjusted as determined in good faith by the Board in consultation with the Chief Executive Officer and Chief Financial Officer of the Company for the proforma effect of acquisitions, divestitures and sale leaseback transactions. Fiscal Year Plan EBITDA 2011 $111,500,000 2012 $123,100,000 2013 $148,200,000 2014 $155,100,000 2015 $165,000,000