Industry Pre-tax Margin. With respect to a Performance Period means, as established by the Committee within 90 days after the commencement of the Performance Period (but in no event after the date required for a performance goal to be considered pre-established under section 162(m) of the Code), either: (A) the percentage determined by dividing (i) the cumulative Pre-tax Income of all companies in the Industry Group for such Performance Period by (ii) all such companies' cumulative revenues (determined for all such... companies as provided in Section 2.1(z)(A) with respect to the Company) over such Performance Period; or (B) (i) the percentage determined under clause (A) above, minus (ii) the percentage determined by dividing (a) the cumulative Pre-tax Income of all companies in the Industry Group for the calendar year immediately preceding the first day of such Performance Period by (b) all such companies' cumulative revenues (determined for all such companies as provided in Section 2.1(z)(A) with respect to the Company) over such calendar year (with the calculation in this clause (B) representing the Industry Group average Pre-tax Margin change over the Performance Period). If the fiscal year of a company in the Industry Group is not the calendar year, then such company's cumulative revenues for a Performance Period shall be determined based upon the fiscal quarters of such company that coincide with the fiscal quarters contained in such Performance Period.View More
Industry Pre-tax Margin. With respect to a Performance Period means, as established by the Committee within 90 days after the commencement of the Performance Period (but in no event after the date required for a performance goal Performance Goal to be considered pre-established under section 162(m) of the Code), Code, to the extent applicable), either: (A) the percentage determined by dividing (i) the cumulative Pre-tax Income of all companies in the Industry Group for such Performance Period by (ii) all such... companies' cumulative revenues (determined for all such on a consolidated basis based on the regularly prepared and publicly available statements of operations of the companies as provided prepared in Section 2.1(z)(A) accordance with respect to the Company) applicable accounting rules) over such Performance Period; or (B) (i) the percentage determined under clause (A) above, minus (ii) the percentage determined by dividing (a) the cumulative Pre-tax Income of all companies in the Industry Group for the calendar year immediately preceding the first day of such Performance Period by (b) all such companies' cumulative revenues (determined for all such on a consolidated basis based on the regularly prepared and publicly available statements of operations of the companies as provided prepared in Section 2.1(z)(A) accordance with respect to the Company) applicable accounting rules) over such calendar year (with the calculation in this clause (B) representing the Industry Group average Pre-tax Margin change over the Performance Period). If the fiscal year of a company in the Industry Group is not the calendar year, then such company's cumulative revenues for a Performance Period shall be determined based upon the fiscal quarters of such company that coincide with the fiscal quarters contained in such Performance Period. View More
