Target Earnings definition

Target Earnings means, with respect to any period, the consolidated net income or net loss, as applicable, of the Canadian Operations for such period determined in accordance with United States GAAP, plus (a) to the extent (but only to the extent) deducted in determining such net income or net loss, without duplication, (i) Canadian federal income tax and provincial income tax expenses of the Canadian Operations for such period, (ii) any non-recurring expenses incurred during such period to the extent resulting from the integration of the operations of the Acquired Companies with the operations of Parent and its United States Subsidiaries, (iii) research and development expenses for new store prototypes (for the avoidance of doubt, excluding research and development costs relating to typical Parent stores) of the Canadian Operations for such period, unless otherwise mutually agreed to by the parties and (iv) increased expenses of the Canadian Operations for such period resulting solely from the application of purchase accounting to the transactions contemplated by this Agreement including increased cost of goods sold and increased depreciation of fixed assets plus (b) the product of (i) the consolidated revenues for such period of Parent derived from online merchandise sales through e-commerce portals owned or operated by Parent or its Subsidiaries to consumers taking delivery of such merchandise at delivery addresses in Canada, multiplied by (ii) the E-Commerce Margin, plus (c) until such time as cumulative expenses for all periods following the Closing Date in respect of non-recurring charges for corporate office or distribution center closures (e.g. asset write-offs, severance payments and relocation expenses) exceed CAD$5 million, the amount of such expenses incurred by the Canadian Operations during such period, (d) plus all royalty proceeds from licensees of trademarks owned by Parent or its Subsidiaries selling licensed products to the extent that such products, to Parent’s knowledge, were sold by such licensees to customers in Canada (other than through sales to mass channel customers). Notwithstanding the foregoing, the calculation of “Target Earnings” for any period shall take into account (w) any expense relating to Allocable Overhead Expenses (and no other corporate overhead expenses allocated by Parent or its United States Subsidiaries to the Canadian Operations) for such period, (x) any Allocable Interest Expenses (and no other interest charges for such peri...

AI-Powered Contracts

Draft, Review & Redline at the Speed of AI

Target Earnings means the product of (a) $1.50 multiplied by (b) the sum of 5.75 million plus the number of any Acquisition Shares (as defined below); and the term "Acquisition Shares" shall mean the number of shares of Common Stock issued in connection with the acquisition (by stock or asset purchase, merger, business combination or otherwise) of the business of any person or entity (i) that is similar or complimentary to the business of USC at the time of acquisition (as determined in good faith by Holder and the Board of Directors of the Company), and (ii) the profits and losses from which are included in determining the after tax earnings of USC for purposes of this Section 1.

Target Earnings means, as to any applicable year, the Company’s projected target earnings before interest, taxes, depreciation, and amortization for such applicable year as set forth in the Company’s annual operating plan approved by the Board of Directors.

Examples of Target Earnings in a sentence

The Board of Directors shall have the right to modify, at any time and in its sole discretion, any previously established "Target Earnings" for reasons such as, but not limited to, any acquisition, disposition, merger, reorganization, liquidation, dissolution or other transaction involving the Company or any of its subsidiaries, or other extraordinary or significant events or changes in circumstances relating to the Company or any of its subsidiaries, businesses or operations.
Earnings Per Share shall be certified by the Committee for fiscal year and compared to the Target Earnings Per Share for fiscal year set forth on the first page of this Agreement.
If Oxford attains the Target Earnings per Share and you continue to serve Oxford or a Subsidiary as set forth in Section 7 hereof, you will have the opportunity to earn the number of Shares specified in Section 3 hereof as the Target Share Opportunity.
The Target Earnings per Share is $3.45 and the Maximum Earnings per Share is $3.57 per share.
Target Earnings before Interest and Taxes for any period shall be the projected Target Earnings before Interest and Taxes for such period as set forth in the Company's annual operating plan approved by the Board of Directors of the Company.
An amount, not less than zero, equal to (A) the Target Earnings Per Share Restricted Stock Units multiplied by the Earnings Per Share Performance Multiplier determined based upon the average of the Company's Earnings Per Share in fiscal years 20__, 20__, and 20__ as compared to each respective prior fiscal year minus (B) the amount determined pursuant to Sections 2(b)(1) and 2(b)(2) above.
If the Minimum Earnings Per Share is achieved but the Target Earnings Per Shares is not achieved, the portion of the Target Number of Performance Shares not vested shall be forfeited and automatically transferred to and reacquired by the Company at no cost to the Company.
Holder's right to purchase any Warrant Shares hereunder shall not vest unless the business operations of USC generate after tax earnings (calculated in accordance with generally accepted accounting principles) of at least the Target Earnings (as defined below) for any fiscal year of the Company ending during the three (3) year period following the date hereof.
The number of Performance Shares in which the Employee may vest shall depend upon achievement of the Target Earnings Per Share for fiscal year and shall be determined in accordance with the Performance Matrix attached hereto as Appendix B.
For purposes of this Section 3.2, the "Target Earnings" of the Company shall be as determined by the Board of Directors.

More Definitions of Target Earnings

Target Earnings means the EBITDA of the Cricket Business, which is earned by the Cricket Business during the fifth full fiscal year following the Closing.

Target Earnings means the sum of Adjusted Pre-Tax Earnings from June 30, 1999 to December 31, 2003, which amount shall be $534,547,000.

Target Earnings has the meaning provided in paragraph 4 of Schedule 3.

Target Earnings for any fiscal year means the projected net income of Employer for that year set forth in the annual budget of Employer for that year prepared by management of Employer and approved by the President and CEO of Employer, and "Actual Earnings" for that year means the actual net income of Employer for that year set forth in Employer's audited financial statements for that year. Each year during the term of this Agreement, Employee shall earn a cash bonus based upon the Actual earnings for the year as a percentage of the Target Earnings for the year, as follows: Actual Earnings as % of Target Earnings Cash Bonus ------------------ ---------- 80% $30,000 90% $40,000 100% $50,000 110% $55,000 120% $60,000 130% $65,000 140% $70,000 150% $75,000 160% $80,000 170% $85,000 180% $90,000 190% $95,000 200% and above $200,000 The cash bonus for a particular year shall be paid to Employee not later than 10 days after the date the audited financial statements of Employer establishing the Actual Earnings for that year have been released by the Employer to the public.