Net Profit Bonus Sample Clauses

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.
Sample 1Sample 2
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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.
Sample 1Sample 2
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.
Sample 1
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.
Sample 1
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 Xxxxxx Xxxxxx. 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.
Sample 1
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.
Sample 1

Related to Net Profit Bonus

  • Target Bonus For purposes of this Agreement, “Target Bonus” means the assigned bonus target for the Executive under any short-term incentive plan(s) of the Company, multiplied by his or her base salary, for the relevant fiscal year. If the Executive’s base salary is changed during the relevant fiscal year, the Target Bonus shall be calculated by multiplying the Executive’s assigned bonus target by the highest base salary in effect during that fiscal year.

  • Annual Cash Bonus During the Term, Executive may be eligible to receive an annual cash bonus, on terms and conditions as determined by the Committee in its sole discretion taking into account Company and individual performance objectives.

  • Annual Bonus In addition to Annual Base Salary, Executive shall be awarded, for each fiscal year ending during the Employment Period, an annual bonus (the “Annual Bonus”) in cash at least equal to Executive’s highest annual bonus for the last three full fiscal years prior to the Effective Date (annualized in the event that Executive was not employed by the Company for the whole of such fiscal year). Each such Annual Bonus shall be paid no later than the end of the third month of the fiscal year next following the fiscal year for which the Annual Bonus is awarded, unless Executive shall elect to defer the receipt of such Annual Bonus.

  • Cash Bonus Executive shall be entitled to a fraction of any Cash Bonus for the fiscal year of the Company within which Executive’s termination of employment occurs which, based upon the criteria established for such Cash Bonus, would have been payable to Executive had he remained employed through the date of payment, the numerator of which is the number of days of such fiscal year prior to his termination of employment and the denominator of which is three hundred and sixty-five (365); and

  • Annual Bonus Compensation In addition to your Salary, during the Employment Term you shall be eligible to earn an annual bonus for each whole or partial calendar year during the Employment Term, determined and payable as follows (the “Bonus”):

  • Incentive and Bonus Compensation The Executive shall be eligible to participate in the Company’s existing and future bonus and stock option plans and other incentive compensation programs for similarly situated executives (collectively, “Plans”), to the extent that the Executive is qualified to participate in any such Plan under the generally applicable provisions thereof in effect from time to time. Such eligibility is not a guarantee of participation in or of the receipt of any award, payment or other compensation under any Plan. To the extent the Executive does participate in a Plan and the Plan does not expressly provide otherwise, the Chief Executive Officer and/or the Board, as appropriate, may determine all terms of participation (including, without limitation, the type and size of any award, payment or other compensation and the timing and conditions of receipt thereof by the Executive) in the Chief Executive Officer’s or the Board’s sole and absolute discretion. Nothing herein shall be deemed to prohibit the Company or the Board from amending or terminating any and all Plans in its sole and absolute discretion. Except as otherwise provided herein, the terms of each Plan shall govern the Executive’s rights and obligations thereunder during the Executive’s employment and upon the termination thereof. Without limiting the generality of the foregoing, the definition of “Cause” hereunder shall not supersede the definition of “cause” in any Plan (unless the Plan expressly defers to the definition of “cause” under an executive’s employment agreement) and any rights of the Executive hereunder upon and subsequent to the termination of the Executive’s employment shall be in addition to, and not in lieu of, any right of the Executive under any Plan then in effect upon or subsequent to a termination of employment.

  • Incentive Bonus Compensation The Executive shall be eligible for incentive bonus compensation for each Fiscal Year in an amount to be determined by the Board of Directors or any committee thereof ("INCENTIVE BONUS COMPENSATION").

  • Pro-Rated Bonus Pro Rated Bonus" shall mean, a bonus equal to the product of (i) the bonus Employee did not receive but would have received under Section 1.4(b) if he had remained an employee through the end of the Employment Term, it being understood that the amount of such bonus Employee would have received shall be determined by reference to the average amount of bonus actually awarded to other officers who were at the same or comparable level of responsibility as Employee immediately prior to his termination, and (ii) a fraction, the denominator of which is 365 and the numerator of which is the number of days in the fiscal year being considered through the date of death, determination of disability or notice of termination of employment, whichever is applicable. In the event that a majority of SCI officers do not receive a bonus for the fiscal year being considered, then the Pro Rated Bonus shall not be applicable and Employee shall not be entitled to a Pro Rated Bonus. The Pro Rated Bonus, if any, payable to Employee shall be paid within 90 days after the date that bonuses, if any, are awarded for a majority of SCI officers for the year being considered.

  • Bonus The Executive shall be eligible for Bonuses determined by the Board.

  • Incentive Bonus During the Term, Employee shall be eligible to receive an incentive bonus up to the amount, based upon the criteria, and payable in such amount, at such times as are specified in Exhibit A attached hereto. The manner of payment, and form of consideration, if any, shall be determined by the Compensation Committee of the Board, in its sole and absolute discretion, and such determination shall be binding and final. To the extent that such bonus is to be determined in light of financial performance during a specified fiscal period and this Agreement commences on a date after the start of such fiscal period, any bonus payable in respect of such fiscal period's results may be prorated. In addition, if the period of Employee's employment hereunder expires before the end of a fiscal period, and if Employee is eligible to receive a bonus at such time (such eligibility being subject to the restrictions set forth in Section 6 below), any bonus payable in respect of such fiscal period's results may be prorated.

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