Adjusted Book Value

Adjusted Book Value. The "Adjusted Book Value" of the Company means the total shareholders' equity of the Company on the last day of the Performance Period, reduced by equity attributable to preferred stock and accumulated other comprehensive income, as determined under generally accepted accounting principles consistently applied. "Adjusted Book Value" shall be determined without regard to items related to changes in accounting principles, tax and/or regulatory changes, and without regard to capital contributions... and distributions to shareholders during the Performance Period. Certain adjustments to the Net Income reported to the shareholders in the Annual Reports [in the three-year performance period] shall be made consistent with the determination of Net Income for purposes of the Company's Annual Incentive Bonus Plan, provided that if such adjustments require the exercise of any discretion by the Company after the first 90 days of the Performance Period, such adjustments shall only be made if they would reduce the LTI Award that would otherwise be payable. View More