Net Income Bonus. Employee shall be eligible to receive as compensation under the Agreement incentive bonuses of ten percent (10%) of the Company's net income, including all of its consolidated subsidiaries, if any, for any fiscal year as determined by the Company's independent auditors using generally accepted accounting principles, consistently applied, which bonus shall not exceed $1,000,000 for any fiscal year.
Net Income Bonus. As an incentive to REG Services, and as additional compensation for the services being rendered, Blackhawk Biofuels agrees to pay a bonus to REG Services on a yearly basis equal to six percent (6%) of the Net Income of Blackhawk Biofuels’ Biodiesel Facility (“Net Income Bonus), as determined hereafter. For purposes of this Agreement, Blackhawk Biofuels’ “Net Income” shall be the net income for its fiscal year before any deduction or allowance for federal or state income taxes, determined in accordance with generally accepted accounting principles applied on a consistent basis by the independent CPA firm engaged by Blackhawk Biofuels, and then adjusted as necessary to: (i) include the receipt of government payments such as under the federal excise tax credit program or similar federal or state payments; (ii) exclude any gains or losses realized on the sale or disposition of capital assets; (iii) adjust depreciation to utilize Internal Revenue Service Class lives depreciated on a straight line, mid-month basis (with no bonus depreciation, Section 179 expense (election to expense certain depreciable assets) or any other method of accelerated depreciation, first year write-off or expensing to be taken), and (iv) exclude any reduction for the Net Income Bonus paid or accrued to REG Services as a result of this subsection, and (v) exclude any income from grant programs Blackhawk Biofuels may receive from state and federal programs. For any partial fiscal year for Blackhawk Biofuels occurring during the term of this Agreement, REG Services shall receive a Net Income Bonus, if any, computed for that period of the fiscal year in which REG Services provides services hereunder.
Net Income Bonus. As an incentive to REG, Inc., and as additional compensation for the services being rendered, Central Iowa Energy agrees to pay a bonus to REG, Inc. on a yearly basis equal to an amount tied to the Net Income of Central Iowa Energy’s Biodiesel Facility (“Net Income Bonus), as determined hereafter, the amount of such bonus as computed under the table set out below. For purposes of this Agreement, Central Iowa Energy’s “Net Income” shall be the net income for its fiscal year before any deduction or allowance for federal or state income taxes, determined in accordance with generally accepted accounting principles applied on a consistent basis by the independent CPA firm engaged by Central Iowa Energy, and then adjusted as necessary to: (i) include the receipt of government payments such as under the federal excise tax credit program or similar federal or state payments; (ii) exclude any gains or losses realized on the sale or disposition of capital assets; (iii) adjust depreciation to utilize Internal Revenue Service Class lives depreciated on a straight line, mid-month basis (with no bonus depreciation, Section 179 expense (election to expense certain depreciable assets) or any other method of accelerated depreciation, first year write-off or expensing to be taken), and (iv) exclude any reduction for the Net Income Bonus paid or accrued to REG, Inc. as a result of this subsection. For any partial fiscal year for Central Iowa Energy occurring during the term of this Agreement, REG, Inc. shall receive a Net Income Bonus, if any, computed for that period of the fiscal year in which REG, Inc. provides services hereunder.
Net Income Bonus. In the event the Company achieves positive Net Income (as defined below) for two consecutive fiscal calendar quarters during the Term through the first fiscal calendar quarter of 2024, Executive shall receive the following (the “Net Income Bonus”): (i) a cash bonus equal to $100,000 and (ii) a grant of 25,000 shares of Common Stock, which shall vest in three equal annual installments beginning on the first annual anniversary date on which the Net Income Bonus was earned. For the purposes of this Agreement, “Net Income” means a positive number resulting from the Company’s applicable calendar quarterly gross revenue less all expenses, including but not limited to cost of goods sold, research and development and selling, general and administrative expenses.
Net Income Bonus. As an incentive to REG, and as additional compensation for the services being rendered, East Fork Biodiesel agrees to pay a bonus to REG on a yearly basis equal to six percent (6%) of the Net Income of East Fork Biodiesel’s Biodiesel Facility (“Net Income Bonus), as determined hereafter. For purposes of this Agreement, East Fork Biodiesel’s “Net Income” shall be the net income for its fiscal year before any deduction or allowance for federal or state income taxes, determined in accordance with generally accepted accounting principles applied on a consistent basis by the independent CPA firm engaged by East Fork Biodiesel, and then adjusted as necessary to: (i) include the receipt of government payments such as under the federal excise tax credit program or similar federal or state payments; (ii) exclude any gains or losses realized on the sale or disposition of capital assets; (iii) adjust depreciation to utilize Internal Revenue Service Class lives depreciated on a straight line, mid-month basis (with no bonus depreciation, Section 179 expense (election to expense certain depreciable assets) or any other method of accelerated depreciation, first year write-off or expensing to be taken), and (iv) exclude any reduction for the Net Income Bonus paid or accrued to REG as a result of this subsection. For any partial fiscal year for East Fork Biodiesel occurring during the term of this Agreement, REG shall receive a Net Income Bonus, if any, computed for that period of the fiscal year in which REG provides services hereunder.
Net Income Bonus. (1) The Employee will receive a Net Income Bonus equal to 30% of GAMC's adjusted Pre Tax Net Income (as hereinafter defined in this Agreement and in Exhibits A through D to this Agreement).
Net Income Bonus. As an incentive to West Central, and as additional compensation for the services being rendered, SIBE agrees to pay a bonus to West Central on a yearly basis equal to six percent (6%) of the Net Income of SIBE’s Biodiesel Facility (“Net Income Bonus), as determined hereafter. For purposes of this Agreement, SIBE’s “Net Income” shall be the net income for its fiscal year before any deduction or allowance for federal or state income taxes, determined in accordance with generally accepted accounting principles applied on a consistent basis by the independent CPA firm engaged by SIBE, and then adjusted as necessary to: (i) include the receipt of government payments such as under the federal excise tax credit program or similar federal or state payments; (ii) exclude any gains or losses realized on the sale or disposition of capital assets; (iii) adjust depreciation to utilize Internal Revenue Service Class lives depreciated on a straight line, mid-month basis (with no bonus depreciation, Section 179 expense (election to expense certain depreciable assets) or any other method of accelerated depreciation, first year write-off or expensing to be taken), and (iv) exclude any reduction for the Net Income Bonus paid or accrued to West Central as a result of this subsection. For any partial fiscal year for SIBE occurring during the term of this Agreement, West Central shall receive a Net Income Bonus, if any, computed for that period of the fiscal year in which West Central provides services hereunder.
Net Income Bonus. As an incentive to REG, Inc., and as additional compensation for the services being rendered, Iowa Renewable Energy agrees to pay a bonus to REG, Inc. on a yearly basis equal to an amount tied to the Net Income of Iowa Renewable Energy’s Biodiesel Facility (“Net Income Bonus), as determined hereafter, the amount of such bonus as computed under the table set out below. For purposes of this Agreement, Iowa Renewable Energy’s “Net Income” shall be the net income for its fiscal year before any deduction or allowance for federal or state income taxes, determined in accordance with generally accepted accounting principles applied on a consistent basis by the independent CPA firm engaged by Iowa Renewable Energy, and then adjusted as necessary to: (i) include the receipt of government payments such as under the federal excise tax credit program or similar federal or state payments; (ii) exclude any gains or losses realized on the sale or disposition of capital assets; (iii) adjust depreciation to utilize Internal Revenue Service Class lives depreciated on a straight line, mid-month basis (with no bonus depreciation, Section 179 expense (election to expense certain depreciable assets) or any other method of accelerated depreciation, first year write-off or expensing to be taken), and (iv) exclude any reduction for the Net Income Bonus paid or accrued to REG, Inc. as a result of this subsection. For any partial fiscal year for Iowa Renewable Energy occurring during the term of this Agreement, REG, Inc. shall receive a Net Income Bonus, if any, computed for that period of the fiscal year in which REG, Inc. provides services hereunder.
Net Income Bonus. If actual Net Income for any Half Fiscal Year is 80% or more of Budget, then, a "net income bonus," calculated as follows, will be payable in the Board's sole discretion with respect to such Half Fiscal Year: (a) an amount between zero and $60,000, in direct proportion to the amount of actual Net Income between 80% and 100% of Budget (e.g., if actual net income is 82% of Budget, then the amount is $6,000, or one-tenth of $60,000); plus (b) $5 for each $1,000 that actual Net Income exceeds Budget.
Net Income Bonus. As an incentive to West Central, and as additional compensation for the services being rendered, Western Iowa Energy agrees to pay an Income Bonus to West Central on a yearly basis equal to 6% of the Net Income of Western Iowa Energy as determined hereafter. For purposes of this Agreement, Western Iowa Energy’s “Net Income” shall be the net income for its fiscal year before any deduction or allowance for federal or state income taxes, determined in accordance with generally accepted accounting principles applied on a consistent basis by the independent CPA firm conducting Western Iowa Energy’s audit, and then adjusted as necessary to: (i) exclude the receipt of government payments such as from under the bioenergy program and similar programs, but not to exclude the federal excise tax credit program or similar federal or state payments; (ii) exclude any gains or losses realized on the sale or disposition of capital assets; and (iii) exclude any reduction for the Income Bonus paid or accrued to West Central as a result of this subsection. If this Agreement shall terminate on other than the last day of Western Iowa Energy’s fiscal year, West Central shall nonetheless qualify for a portion of the Income Bonus. In such case, Western Iowa Energy’s Net Income shall be determined and adjusted as set out above. West Central shall receive a payment equal to the Income Bonus (if any) for such entire fiscal year, multiplied by a fraction, the numerator of which is the number of days during such fiscal year that the Agreement is in effect, and the denominator of which is 365.
