Return on Average Stockholders’ Equity. Return on Average Stockholders’ Equity for a Performance Period means an amount, expressed as a percentage, determined by dividing # the Company’s Adjusted Net Earnings for the Performance Period by # the Company’s Average Stockholders’ Equity for the Performance Period.

"Return on Average Stockholders’ Equity.Equity" means the Company's net income for a calendar year in the Performance Period, divided by the average of shareholder's equity as of the first and last day of such calendar year. Return on Average Stockholders’ Equity for a Performance Period means an amount, expressedshall be determined in accordance with generally accepted accounting principles as a percentage, determined by dividing #in effect on the Company’s Adjusted Net Earnings forfirst day of the Performance Period by # the Company’s Average Stockholders’ Equity for theapplicable Performance Period.

Return on Average Stockholders’ Equity. Return on Average Stockholders’ Equity for a Performance Period means an amount, expressedthe average of the Stockholders’ Equity of the Company as a percentage, determined by dividing #of the Company’s Adjusted Net Earnings forlast day of the immediately preceding Performance Period by #and the Company’s Average Stockholders’ Equity forlast day of each month in the Performance Period.

“Return on Average Stockholders’ Equity.Equity” means the Company’s net income for a calendar year in the Performance Period, divided by the average of shareholder’s equity as of the first and last day of such calendar year. Return on Average Stockholders’ Equity for a Performance Period means an amount, expressedshall be determined in accordance with generally accepted accounting principles as a percentage, determined by dividing #in effect on the Company’s Adjusted Net Earnings forfirst day of the Performance Period by # the Company’s Average Stockholders’ Equity for theapplicable Performance Period.