Adjusted Cash Flows

Adjusted Cash Flows. With respect to each fiscal year in the Measurement Period, net cash provided by operating activities (whether positive or negative) less capital expenditures net of proceeds on the disposal of property, all as shown on audited financial statements for the fiscal year, as adjusted (net of tax where applicable) to exclude the effects of the following items: -8- (i) Cash receipts or disbursements from investments; (ii) Interest income on... corporate investments and interest expense on corporate debt; (iii) The difference between the cash pension payment for an active defined benefit plan actually made and the pension expense recorded; (iv) Changes in tax law or regulation or accounting pronouncements in United States GAAP or applicable international standards that cause an inconsistency in computation as originally designed; (v) The effect of acquisitions during the Measurement Period, which shall be excluded for the duration of the Measurement Period; (vi) All other externally reported adjustments to GAAP net income, consistent with "adjusted net income attributable to Hillenbrand" as externally reported by the Company (or such substantially similar metric as is otherwise defined by the Company), resulting in cash inflow or outflow impacting net cash provided by operating activities, to be included or excluded as applicable; and (vii) Other items to be included or excluded as approved by the Compensation and Management Development Committee of the Board of Directors. View More