EBIT Percentage

EBIT Percentage. Means a percentage computed by dividing (i) net income plus (a) interest expense and (b) income taxes, as each such amount is reported on the Company's audited or, if the Committee so determines, unaudited Consolidated Statement of Operations for such Fiscal Year (but, in the case of each of the amounts described in clauses (a) and (b), only to the extent such amount was deducted in computing net income for such Fiscal Year), by (ii) Sales. In the sole discretion of the Committee, EBIT... Percentage may also be adjusted by adjusting net income to eliminate (i) the costs of acquiring an ownership interest in any entity during such Fiscal Year, (ii) the operating results of such acquired entities for such Fiscal Year, (iii) losses on the impairment of intangible assets or goodwill, (iv) deductions relating to depreciation and amortization and (v) stock-based compensation expense (but, in the case of each of the amounts described in clauses (i) through (v), only to the extent such amount was taken into account in arriving at net income for such Fiscal Year). In addition to the foregoing, in the sole discretion of the Committee, EBIT Percentage may also be adjusted to account for the amount, if any, by which the aggregate amount accrued for payment of Bonuses to all Participants for such Fiscal Year exceeds or is less than the actual amounts of Bonus to be paid to all Participants for such Fiscal Year. View More