Adjusted Earnings

Adjusted Earnings. For a given Plan Year shall be equal to the reported Net Income for the Plan Year, except in extraordinary circumstances as determined by the Plan Administrator, in the Plan Administrator's sole discretion. For purposes of computing Adjusted Earnings for the 2006 Plan Year only, the following items shall be added to Net Income: (1) all after-tax severance-related expense recognized in earnings in the applicable calendar year in connection with major corporate restructurings; and (2) all... after-tax stock-based compensation expense recognized in 2006 earnings in excess of all such expense recognized in 2005 earnings. View More

Adjusted Earnings. For a particular year shall mean the Company's reported Net Income for such year plus (x) the after-tax amount included in reported Net Income for said year related to stock-based compensation awards granted after December 31, 2006 but minus (y) the amount of after-tax, stock-based compensation expense related to stock-based compensation awards granted after December 31, 2006, that would have been included in reported Net Income had such awards been granted on January 1st of their respective... grant years subject only to time-based vesting on a 4-year cliff schedule. View More

Adjusted Earnings. For the applicable period shall mean the actual audited net after tax income of the Surviving Corporation, determined according to GAAP; plus all actual after tax amortization expense for intangibles resulting from the transactions contemplated by this Agreement; plus the actual after tax amount of any negative impact to earnings associated with the warrants held by Falcon Mezzanine Partners II, L.P., FMP II Co-Investment, LLC and JZ Equity Partners PLC or their successors or assigns and the... transactions contemplated by this Agreement, including deal related costs arising out of accounting treatment for warrants, put/call rights, options or other employee equity incentive plans (employee incentives shall be deemed associated with the transactions contemplated by this Agreement if granted within ninety days of the Closing Date); minus a proforma after tax interest income amount calculated by multiplying the amount of the cash balance on Oakmont's balance sheet as of the Closing Date and immediately prior to consummation of this transaction by an interest rate of five percent (5%) per annum and then multiplying the resulting product by the number of days remaining in the applicable period after the Closing Date and divided the resulting product by 365. View More

Adjusted Earnings. Employer's earnings calculated before deductions for interest expense, income taxes, depreciation and amortization, and without including any governmental incentive income as determined by Employer using generally accepted accounting principles in the United States applied on a consistent basis.