https://www.avient.com/sites/default/files/resources/PolyOne%25202017%2520Proxy%2520Statement.PDF
EBITDA, free cash floff w, free cash flow with or without specific capital expenditure target or
range, including or excluding divestments and/or acquisitions, total cash floff w, cash flow in excess of cost of
capital or residual cash floff w or cash flow return on investment);
• Returns (e.g., Profitsff or Cash Flow returns on: assets, invested capital, net capital employed, sales, and
equity);
• Working Capital (e.g., working capital divided by sales, days’ sales outstanding, days’ sales inventory, and
days’ sales in payables);
• Profit Margins (e.g., Profits divided by revenues, gross margins and material margins divided by revenues,
and material margin divided by sales pounds);
• Liquidity Measures (e.g., debt-to-capital, debt-to-EBITDA, total debt ratio);
• Sales Growth, Gross Margin Growth, Cost Initiative and Stock Price Metrics (e.g., revenues, revenue growth,
revenue growth by targeted country, region or end market, gross margin and gross margin growth, material
margin and material margin growth, stock price appreciation, total return to shareholders, sales and
administrative costs divided by sales, and sales and administrative costs divided by profits); and
• Strategic Initiative Key Deliverable Metrics consisting of one or more of the folff lowing: product development,
strategic partnering, research and development, vitality index, market penetration, geographic business
expansion goals, cost targets, customer satisfaction, employee satisfaction, management of employment
practices (including succession planning and talent development) and employee benefitsff , supervision of
litigation and inforff mation technology, and goals or synergies relating to acquisitions or divestitures of
subsidiaries, affiliates and joint ventures.
All Directors are required to retain 100% of all
shares obtained through us, as compensation for services provided to us, with such percentage to be calculated after
any reduction in the number of shares to be delivered as a result of any taxes and exercise costs relating to the shares
(if applicable).
Special items
include charges related to specific strategic initiatives or financial restructuring, such as: consolidation of
operations; debt extinguishment costs; costs incurred directly in relation to acquisitions or divestitures;
employee separation costs resulting froff m personnel reduction programs, plant realignment costs; executive
separation agreements; asset impairments; mark-to-market adjustments associated with actuarial gains and
losses on pension and other post-retirement benefitff plans; environmental remediation costs, finff es, penalties and
related insurance recoveries related to facilities no longer owned or closed in prior years; gains and losses on the
divestiture of operating businesses, joint ventures and equity investments; gains and losses on facff ility or
property sales or disposals; results of litigation, fines or penalties, where such litigation (or action relating to the
fines or penalties) arose prior to the commencement of the perforff mance period; one-time, non-recurring items;
and the effeff ct of changes in accounting principles or other such laws or provisions affecting reported results