Common use of Measuring Periods Clause in Contracts

Measuring Periods. Clauses (A), (B) and (C) of Section 2(d)(ii) of the Employment Agreement are hereby deleted in their entirety and the following substituted in lieu thereof: (A) Tranche 1 shall vest on the first anniversary of the Employment Date if the growth in EBITDA (as defined on Schedule 2(d)(ii)) for the Tranche 1 Measuring Period (as defined on Schedule 2(d)(ii)) exceeds 10%. If Tranche 1 has not vested on the first anniversary of the Employment Date, it shall vest on the second anniversary of the Employment Date if EBITDA for the 2008 calendar year of LLC exceeds by at least 20% EBITDA for the fiscal year of Reis ending October 31, 2006. If Tranche 1 has not vested on the first or second anniversary of the Employment Date, it shall vest on the third anniversary of the Employment Date if EBITDA for the 2009 calendar year of LLC exceeds by at least 30% EBITDA for the fiscal year of Reis ending October 31, 2006. (B) Tranche 2 ▇▇▇▇l vest on the second anniversary of the Employment Date if either (1) the growth in EBITDA for the Tranche 2 Measuring Period exceeds 10% or (2) EBITDA for the 2008 calendar year of LLC exceeds by at least 20% EBITDA for the fiscal year of Reis ending October 31, 2006. If Tranche 2 has not vested on the second anniversary of the Employment Date, it shall vest on the third anniversary of the Employment Date if either (x) EBITDA for the 2009 calendar year of LLC exceeds by at least 20% EBITDA for the 2007 calendar year of LLC or (y) EBITDA for the 2009 calendar year of LLC exceeds by at least 30% EBITDA for the fiscal year of Reis ending October 31, 2006. (C) ▇▇anche 3 shall vest on the third anniversary of the Employment Date if either (1) the growth in EBITDA for the Tranche 3 Measuring Period exceeds 10% or (2) EBITDA for the 2009 calendar year of LLC exceeds by at least 30% EBITDA for the fiscal year of Reis ending October 31, 2006."

Measuring Periods. Clauses (A), (B) and (C) of Section 2(d)(ii) of the Employment Agreement are hereby deleted in their entirety and the following substituted in lieu thereof: (A) Tranche 1 shall vest on the first anniversary of the Employment Date if the growth in EBITDA (as defined on Schedule 2(d)(ii)) for the Tranche 1 Measuring Period (as defined on Schedule 2(d)(ii)) exceeds 10%. If Tranche 1 has not vested on the first anniversary of the Employment Date, it shall vest on the second anniversary of the Employment Date if EBITDA for the 2008 calendar year of LLC exceeds by at least 20% EBITDA for the fiscal year of Reis ending October 31, 2006. If Tranche 1 has not vested on the first or second anniversary of the Employment Date, it shall vest on the third anniversary of the Employment Date if EBITDA for the 2009 calendar year of LLC exceeds by at least 30% EBITDA for the fiscal year of Reis ending October 31, 2006. (B) Tranche 2 ▇▇▇▇l vest on the second anniversary of the Employment Date if either (1) the growth in EBITDA for the Tranche 2 Measuring Period exceeds 10% or (2) EBITDA for the 2008 calendar year of LLC exceeds by at least 20% EBITDA for the fiscal year of Reis ending October 31, 2006. If Tranche 2 has not vested on the second anniversary of the Employment Date, it shall vest on the third anniversary of the Employment Date if either (x) EBITDA for the 2009 calendar year of LLC exceeds by at least 20% EBITDA for the 2007 calendar year of LLC or (y) EBITDA for the 2009 calendar year of LLC exceeds by at least 30% EBITDA for the fiscal year of Reis ending October 31, 2006. (C) Tran▇▇anche ▇ 3 shall vest on the third anniversary of the Employment Date if either (1) the growth in EBITDA for the Tranche 3 Measuring Period exceeds 10% or (2) EBITDA for the 2009 calendar year of LLC exceeds by at least 30% EBITDA for the fiscal year of Reis ending October 31, 2006."