NJRES NFE

NJRES NFE. For purposes of this Agreement, "NJRES NFE" shall mean the net income of NJRES for the fiscal year, excluding the accounting impact and resulting volatility in GAAP earnings due to unrealized and certain realized gains and losses from certain derivative instruments, net of applicable tax adjustments, excluding or adjusting for the following items, net of tax: (i) excluding expenses in excess of budgeted amounts (to the extent approved for exclusion from NJRES NFE by the Leadership Development... and Compensation Committee ("LDCC") of the Board of Directors of the Company) and related to management consulting engagements; charitable contributions; summer intern program; and discretionary "thank you" incentive awards to employees of NJRES outside of the NJRES Plan or any similar plan of the Company and its Affiliates, (ii) excluding losses, expenses and costs relating to impairment/write-downs of property, plant and equipment, goodwill, business operations or any other assets (tangible or intangible) (to the extent approved from exclusion from NJRES NFE by the LDCC), and (iii) adjusting for any changes in statutory federal and state corporate income tax rates for the year. Notwithstanding the foregoing, the LDCC is authorized to make any other adjustments to NJRES NFE to include or exclude any other items that are otherwise includable or excludable under GAAP and/or include or exclude any non-GAAP items otherwise includable or excludable for internal or external accounting purposes. View More