Lump Sum Payments In Lieu of Profit Sharing Sample Clauses

Lump Sum Payments In Lieu of Profit Sharing. 210 (1) All bargaining unit employees with a bargaining unit seniority date of September 30, 2010 or earlier and who remain continuously employed by the Company as of February 1 of each contract year will receive additional lump sum payment in the amount of $1,000, less applicable withholdings, if and only if Navistar International Corporation (NIC) reports a positive after-tax net income for the prior fiscal year. The first such potential payment will be made in February of 2016 if NIC reports a positive after-tax income for FY2015. These payments will be made no later than February 28 of each contract year to each eligible employee. 211 (2) All bargaining unit employees with a bargaining unit seniority date of 10/1/10 or later and who remain continuously employed by the Company as of February 1 of each contract year will receive an additional lump sum payment in the amount of $1,000, less applicable withholdings, if and only if Navistar International Corporation (NIC) reports a positive after-tax net income of $500,000 or more for the prior fiscal year. The first such potential payment will be made in February of 2016. These payments will be made no later than February 28 of each year.
Sample 1
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Lump Sum Payments In Lieu of Profit Sharing. 212 (1) All bargaining unit employees with a bargaining unit seniority date of September 30, 2010 or earlier and who remain continuously employed by the Company as of February 1 of each contract year or who retire after October 31 of the preceding year will receive additional lump sum payment in the amount of $1,000, less applicable withholdings, if and only if Navistar International Corporation (NIC) reports a positive after-tax net income for the prior fiscal year. The first such potential payment will be made in February of 2019 if NIC reports a positive after-tax WAGE PAYMENT PROVISIONS ARTICLE XII income for FY2018. These payments will be made no later than February 28 of each contract year to each eligible employee. An employee who retires during the fiscal year for which a lump sum is paid under this paragraph will receive a pro rata portion of the lump sum payment. This pro rata payment will be calculated based on the number of calendar months in the fiscal year during which the employee either actively worked for a minimum of 10 days or was paid vacation for a minimum of 10 days. 213 (2) All bargaining unit employees with a bargaining unit seniority date of 10/1/10 or later and who remain continuously employed by the Company as of February 1 of each contract year and have completed their probationary period as of the preceding October 31 will receive an additional lump sum payment in the amount of $1,000, less applicable withholdings, if and only if Navistar International Corporation (NIC) reports a positive after-tax net income for the prior fiscal year in an amount equal to or greater than the number of employees eligible for payment under this paragraph multiplied by $1,000. The first such potential payment will be made in February of 2019. These payments will be made no later than February 28 of each year. 214 The wage rates for employees hired on or after October 1, 2010 are included in Exhibit “E”.
Sample 1

Related to Lump Sum Payments In Lieu of Profit Sharing

  • Lump Sum Payments If, during the Employment Period, the Company terminates the Executive's employment other than for Cause, or the Executive terminates employment for Good Reason, the Company shall pay to the Executive the following amounts:

  • Lump Sum Payment Upon award of the contract for this improvement, the LA will pay to the STATE, in lump sum, an amount equal to 80% of the LA’s estimated obligation incurred under this Agreement, and will pay to the STATE the remainder of the LA’s obligation (including any nonparticipating costs) in a lump sum, upon completion of the project based upon final costs. Method B - Monthly Payments. Upon award of the contract for this improvement, the LA will pay to the STATE, a specified amount each month for an estimated period of months, or until 80% of the LA’s estimated obligation under the provisions of the Agreement has been paid, and will pay to the STATE the remainder of the LA’s obligation (including any nonparticipating costs) in a lump sum, upon completion of the project based upon final costs.

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  • Public Benefit It is Reaction Retail’s understanding that the commitments it has agreed to herein, and actions to be taken by Reaction Retail under this Settlement Agreement, would confer a significant benefit to the general public, as set forth in Code of Civil Procedure § 1021.5 and Cal. Admin. Code tit. 11, § 3201. As such, it is the intent of Reaction Retail that to the extent any other private party initiates an action alleging a violation of Proposition 65 with respect to Reaction Retail’s failure to provide a warning concerning exposure to DEHP prior to use of the Products it has manufactured, distributed, sold, or offered for sale in California, or will manufacture, distribute, sell, or offer for sale in California, such private party action would not confer a significant benefit on the general public as to those Products addressed in this Settlement Agreement, provided that Reaction Retail is in material compliance with this Settlement Agreement.

  • Lump Sum Compensation Lump sum computation refers to the method of payment under this Agreement for the professional services of the Consultant.

  • Vacation Pay on Retirement Termination is as follows:

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  • Deferred Compensation Program ‌ Unit members shall continue to be eligible to join the County’s Deferred Compensation Plan. Said employees will be bound by the same Plan, rules and participation agreements as are generally applicable to other County employees. DSA acknowledges that County retains the right to alter, amend, or repeal the current plan, rules, and participation agreements, at any time. The County shall not charge an administrative fee to participating employees.

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