Minimum EBITDA. Achieve EBITDA, measured on a quarter-end basis, of at least the required amount set forth in the following table for the applicable period set forth opposite thereto:

The sales component of the Program is further subdivided between Life Sales and Annuity Sales. For 2023, the sales goals for each line of business of the Company are:

The profitability component of the Program is based upon the consolidated GAAP return on assets (ROA) percentage as derived from the segment results reported in National Western Life Group, Inc.’s (NWLGI)’s Form 10-K. The ROA percentage is calculated as the sum of GAAP segment net operating earnings divided by the sum of the beginning of the year GAAP segment assets. Segment GAAP net operating earnings are after federal income taxes but exclude realized gains and losses on investments. As the GAAP results, including segment information, reported in the Form 10-K are audited by the Company’s independent auditors, the ROA calculation will be finalized at the time NWLGI’s Form 10-K for the year is filed with the SEC.

If Buyer proposes a new blade model, Seller will notify Buyer of any new product specific tools and modifications to the Production Facility and/or the Storage Facility that will be required for the production of the new model. It will be the responsibility of Buyer to provide and deliver such product specific tools to Seller at Buyer’s sole cost. Seller will quote a price for such new blade model and establish an initial Bill of Materials and Baseline Price Schedule for such model. [...​...].

Minimum Adjusted EBITDA. Achieve minimum Adjusted EBITDA for the periods set forth in [Schedule 6.10(B)] of at least the amount set forth opposite such periods therein, tested on the last day of each fiscal quarter, provided that with respect to periods for which required EBITDA is a negative number, Adjusted EBITDA losses shall not exceed such amount.

Minimum Consolidated EBITDA. The Consolidated EBITDA for the four fiscal quarter period ended September 30, 2014 shall not be less than $83,000,000.

Adjusted EBITDA Calculation. The Company’s Finance Department will calculate the year-to-date Adjusted EBITDA in accordance with its established non-GAAP procedures. The “EBITDA Payout Factor” is determined by locating the percentage of the EBITDA Goal attained in the table below and identifying the corresponding EBITDA Payout Factor. If the percentage of EBITDA Goal attained falls between the listed percentages in the Adjusted EBITDA Table, the EBITDA Goal attained will be determined by interpolation to identify the EBITDA Payout Factor. The Adjusted EBITDA payment is calculated as follows:

Adjusted EBITDA Payments. The Adjusted EBITDA payment will be calculated after the Company’s books are closed for each fiscal quarter and will be paid not more than forty-five (45) days after the close thereof. Payments made to Participant in prior periods of the Plan Year are deducted from the amount payable to Participant for the year-to-date.

If the sum of the percentages of Target Performance Shares earned under Component I is less than 30%, then the final number of Performance Shares earned under Component I will be 30% of the Target Performance Shares (and in no event shall the total awarded Target Performance Shares for the sum of Component I and Component II (defined below) be less than 40%).

An Operating Profit “threshold” may be established, which must be achieved in order to make available the award opportunity to recognize the Personal/Team performance component. If such threshold is established, meeting this threshold would result in a Personal/Team opportunity payout. This threshold can be different than the minimum Operating Profit level necessary to create a Financial Performance opportunity. No awards for Personal/Team performance will be paid if a threshold is established and is not met.