Common use of Cumulative EBITDA Clause in Contracts

Cumulative EBITDA. AFG’s earnings before interest, taxes, depreciation, amortization, and non-controlling interests (as determined under current US GAAP) through the Performance Period. This includes all of AFG’s subsidiaries excluding AAC and AAC’s subsidiaries. Cumulative EBITDA shall be adjusted for the effects of: • advisor and deal/transaction related costs related to AFG and AAC capital and/or M&A transactions above or below budgeted amounts (1); • cost of post-employment guarantees; • cost and impact of AAC and AFG share repurchase (direct and synthetic) (2); • changes to Board fees and Board imposed expenses; • litigation and defense costs and any potential litigation gains in excess of damages incurred; • (cost)/benefit of performance based compensation (above) or below target amounts; and • any other costs as determined in the sole discretion of the Board.