Net Profit Bonus Sample Clauses
A Net Profit Bonus clause establishes a system where employees or contractors receive additional compensation based on the net profits generated by a business or project. Typically, this clause outlines the method for calculating net profit, the percentage or amount of bonus to be paid, and the timing of such payments, often after the close of a fiscal period. By directly linking bonuses to actual profits, this clause incentivizes performance and aligns the interests of recipients with the financial success of the company, while also ensuring that bonuses are only paid when the business is profitable.
POPULAR SAMPLE Copied 274 times
Net Profit Bonus. The Company shall pay Executive an annual bonus ("Net Profit Bonus"). The Net Profit Bonus shall equal two percent (2%) of the Company's annual net income, calculated using Generally Accepted Accounting Principles. The Net Profit Bonus shall be payable annually no later than the fifteenth (15th) day of the third month following the end of the Company's fiscal year in cash and/or the equivalent cash amount in fully vested stock options at the fair market price of the Company's stock on the last day of the Company's calendar year, at the sole discretion of Executive.
Net Profit Bonus. In addition to the Employee’s base salary (including 6% annual increases on each January 1st for 2013 through 2017) and asset growth bonus, the Employee will receive a net profit bonus of 5% of the net income (with operating results measured using the U.S. GAAP basis of accounting) of the Company each year after completion of the audit and the filing of the Company’s Form 10-K. The net profit bonus will be capped at 200% of the Employee’s base salary for the year the net profit bonus was calculated. The initial net profit bonus will be calculated for the year ended December 31, 2012.
Net Profit Bonus. Employee shall be paid a Net Profit Bonus which shall be calculated as 2.75% of Company’s pre-tax income plus the amortization of intangible assets associated with the acquisition of BAMKO's assets on March 1, 2016. For purposes of this Bonus calculation, Company’s pre-tax income shall be calculated in accordance with accounting principles generally accepted in the United States of America, based upon Company’s financial statements without taking into consideration the bonus amounts payable to ▇▇▇▇▇▇ ▇▇▇▇▇▇. This Bonus is non-discretionary and shall be paid to Employee regardless of personal or company performance. This bonus shall be paid no later than March 15th in the year after it is earned.
Net Profit Bonus. Subject to the New Division meeting the thresholds in Section 4.2.1, Executive shall be entitled to 3% of the net profit of the New Division, accrued on an annual basis (“Net Profit Bonus”). For example, assuming the New Division’s gross revenue is equal to $16,485,000, gross margin is equal to 23%, operating expenses are equal to $2,500,000, and net profit is $1,291,550 for the 2009 calendar year, then Executive would be entitled to a Net Profit Bonus of $38,747 for the 2009 calendar year.
Net Profit Bonus. The Employee shall be entitled to receive a cash bonus equal to five percent (5%) of the net profit generated by the Company during each of fiscal quarter of HMC, if any. Any net profit bonus earned by the Employee during a fiscal quarter shall be paid within thirty (30) days of the filing of HMC’s Quarterly Report on Form 10-Q for such fiscal quarter.
Net Profit Bonus. On account of each of fiscal years 2014 and 2015, the Employee shall be granted restricted shares of the Company’s common stock, par value $0.001 per share (the “Bonus Shares”) in an amount equal to ten thousand (10,000) Bonus Shares per each one million dollars ($1,000,000) of Net Profit Earnings (as hereinafter defined) (the “Net Profit Bonus”) for such fiscal year, in each case in the form of the restricted stock agreement attached hereto as Exhibit B and subject to the approval by the Board or the Compensation Committee of the Board. The Bonus Shares covered by such restricted stock agreement shall be represented by certificates registered in the name of the Employee bearing a legend referring to the restrictions on transferability of the shares of Bonus Shares pursuant to this Agreement or any other restrictions that Board of Directors of the Company may deem advisable under the rules, regulations and other requirements of the Securities and Exchange Commission, any applicable federal or state securities laws or any stock exchange on which the Bonus Shares are then listed or quoted. As used herein, “Net Profit Earnings” for any fiscal year shall mean the total value of sales by TL Energy during such fiscal year, as determined utilizing generally accepted accounting principles in the United States (“GAAP”), after deduction for special engineering, sales commission, installation charges, shipping and handling charges, and taxes. Net Profit Earnings shall be paid out within forty-five (45) days of the end of each applicable fiscal year. The definition of “Net Profit Bonus” as set forth in this Section 3.2 shall be used throughout this Agreement.