Tangible Book Value

Tangible Book Value. Means, with respect to the Person, total assets less deferred policy acquisition costs less goodwill less net deferred income tax asset less Liabilities less $91,162 representing software as a portion of "other assets," all on a consolidated basis as shown on the balance sheet of the date in question prepared in accordance with GAAP and consistent with the preparation of the June 30, 2007 balance sheet of such Person. 49

Tangible Book Value. The calculated value of one LTIP Unit, as determined by the Board, in good faith and considering such factors as it deems appropriate. Tangible Book Value shall be determined annually on the last day of each Plan Year, or in such other intervals as may be determined in the discretion of the Board. In the case of a Change in Control, Tangible Book Value shall be determined as of the date of such Change in Control.