Base Case

Example Definitions of "Base Case"
Base Case. Means, with respect to a specified calendar year within the Performance Period, the Actual Internal EBITDA target for the Company for such calendar year, which target shall be adjusted from time to time in good faith by the Compensation Committee to reflect the consequences of acquisitions, dispositions and start-ups of any new facilities and changes in GAAP promulgated by FASB or the SEC. Such adjustment by the Compensation Committee shall be made for the purpose of providing a consistent... basis from year to year for computing the relationship of Actual Internal EBITDA to the Base Case in order to prevent the dilution or enlargement of the Optionee's rights under this Agreement. Notwithstanding the foregoing, no adjustment to the Company's Actual Internal EBITDA targets shall be made in respect of outpatient methadone based treatment start-ups (other than pain management start-ups for which an adjustment would be made). The initial Actual Internal EBITDA targets for the Company are set forth below: Base Case 2007 2008 2009 2010 2011 Actual Internal EBITDA $ 119,717,541 $ 143,768,663 $ 167,463,714 $ 191,181,092 $ 212,211,012 View More
Base Case. Means, with respect to a specified calendar year within the Performance Period, the Actual Internal EBITDA target for the Company for such calendar year, which target shall be adjusted from time to time in good faith by the Compensation Committee to reflect the consequences of acquisitions, dispositions and start-ups of any new facilities and changes in GAAP promulgated by FASB or the SEC. Such adjustment by the Compensation Committee shall be made for the purpose of providing a consistent... basis from year to year for computing the relationship of Actual Internal EBITDA to the Base Case in order to prevent the dilution or enlargement of the Optionee's rights under this Agreement. Notwithstanding the foregoing, no adjustment to the Company's Actual Internal EBITDA targets shall be made in respect of (i) the start-up of one eating disorder treatment facility by the Company in 2006, which start-up is already reflected in the targets set forth below and (ii) outpatient methadone based treatment start-ups (other than pain management start-ups for which an adjustment would be made). The initial Actual Internal EBITDA targets for the Company are set forth below: Base Case 2006 2007 2008 2009 2010 2011 Actual Internal EBITDA (in millions) $ 119,717,541 71.4 $ 143,768,663 86.6 $ 167,463,714 103.8 $ 191,181,092 121.9 $ 212,211,012 137.2 For the avoidance of doubt, the target for year 2006 is a target for Actual Internal EBITDA earned during all of calendar year 2006. View More
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