Net Profit Sharing Sample Clauses

Net Profit Sharing. The participants shall share the net proceeds derived by the Joint Venture from the Gold Deposits after deduction of any royalty payable under the license, deduction of other expenses directly related to the dredge mining activities, reserve for local taxes, current operating expenses and reasonable reserve fund for operations. Such sharing shall be on the above-mentioned basis at least quarterly, or earlier if practicable.
Sample 1
AutoNDA by SimpleDocs
Net Profit Sharing. (a) KUDCO shall pay to each of ANDRX and GENPHARM fifteen percent (15%) of the Net Profit from the KUDCO Product from the date on which it or any Affiliate first sells any unit of KUDCO Product until the date that is one hundred and eighty (180) days following the Commercial Launch Date. Such payment shall be made in accordance with Section 3.1(d). (b) After the one hundred and eighty (180) day period described in Section 3.1(a) has lapsed, KUDCO shall thereafter pay to each of ANDRX and GENPHARM nine percent (9%) of the Net Profit from the KUDCO Product until the earlier of (i) an Appellate Court Decision Date or (ii) the date that is five hundred and forty-seven (547) days following the Commercial Launch Date. Such payment shall be made in accordance with Section 3.1(d). (c) From and after an Appellate Court Decision Date or, in the event that the five hundred and forty-seven (547) day period described in Section 3.1(b) has lapsed prior to an Appellate Court Decision Date, KUDCO shall pay to each of ANDRX and GENPHARM six and one quarter percent (6.25%) of the Net Profit from the KUDCO Product during the seven hundred and thirty (730) day period from and after the earlier of (i) an Appellate Court Decision Date or (ii) the date that is five hundred and forty-seven (547) days following the Commercial Launch Date. Such payment shall be made in accordance with Section 3.1(d). (d) Net Profit owing by KUDCO under this Section 3.1 shall be payable Monthly (a "MONTHLY INSTALLMENT") by the wire transfer of immediately available funds to such account or accounts as are designated by ANDRX or GENPHARM, as applicable. A Monthly Installment shall be paid within sixty (60) days after the last Business Day of the applicable Month; provided, however, that the Monthly Installments in respect of the Month in which the first commercial sale of the KUDCO Product occurs and the first full Month thereafter shall be paid within ninety (90) days after the last Business Day of the applicable Month. Each Monthly Installment shall be based upon KUDCO's reasonable estimate of the Net Profit earned during the applicable Month, and one
Sample 1
Net Profit Sharing 
Sample 1Sample 2Sample 3

Related to Net Profit Sharing

  • Profit Sharing Profit sharing, bonuses, or other similar compensation of any kind paid by CM/GC to its employees.

  • Profit Sharing Plan Under the Northrim BanCorp, Inc. Profit Sharing Plan (the “Plan”), Executive shall be eligible to receive an annual profit share based on performance as defined by the Board of Directors. Executive will be classified in the Executive tier under the Plan’s Responsibility Factors. If Employer is required to prepare an accounting restatement due to “material noncompliance of the Employer,” the Employer will recover from the Executive any incentive compensation during the three (3) years prior to the date of the restatement, in excess of what would have been paid under the restatement. Executive’s signature on this Agreement authorizes Employer to offset or deduct from any compensation Employer may owe Executive, any excess payments (in whole or in part) that Executive may owe Employer due to such restatement(s).

  • Savings Plan Executive will be eligible to enroll and participate, and be immediately vested in, all Company savings and retirement plans, including any 401(k) plans, as are available from time to time to other key executive employees.

  • Retirement Contribution 1. The State shall, as permitted by 5 M.R.S.A. §17702 §§s5 and 6, pay its cost of the 6.5% or 7.5% retirement contribution for employees in the bargaining unit who are covered under special Law Enforcement retirement plans. 2. The State shall, as permitted by 5 M.R.S.A. §17702 §§s5 and 6, pay the cost of the 6.5% or 7.5% retirement contribution for employees in the following classifications.

  • Retirement Contributions On behalf of employees, the State will continue to “pick up” the six percent (6%) employee contribution, payable pursuant to law. The parties acknowledge that various challenges have been filed that contest the lawfulness, including the constitutionality, of various aspects of PERS reform legislation enacted by the 2003 Legislative Assembly, including Chapters 67 (HB 2003) and 68 (HB 2004) of Oregon Laws 2003 (“PERS Litigation”). Nothing in this Agreement shall constitute a waiver of any party’s rights, claims or defenses with respect to the PERS Litigation.

  • Incentive Compensation During the Term, the Executive shall be eligible to receive cash incentive compensation as determined by the Board or the Compensation Committee from time to time. The Executive’s target annual incentive compensation shall be thirty-five percent (35%) of his Base Salary. To earn incentive compensation, the Executive must be employed by the Company on the day such incentive compensation is paid.

  • Incentive Compensation Plan In addition to receipt of Basic Compensation under the Employment Agreement, you shall participate in the Incentive Compensation Plan for Executive Officers of the Company (the “Compensation Plan”) and shall be eligible to receive incentive compensation under the Compensation Plan as may be awarded in accordance with its terms.

  • Savings Plans Employee shall be entitled to participate in Employer’s 401(k) plan, or other retirement or savings plans as are made available to Employer’s other executives and officers and on the same terms which are available to Employer’s other executives and officers.

  • Incentive, Savings and Retirement Plans During the Employment Period, the Executive shall be entitled to participate in all incentive, savings and retirement plans, practices, policies and programs applicable generally to other peer executives of the Company and its affiliated companies, but in no event shall such plans, practices, policies and programs provide the Executive with incentive opportunities (measured with respect to both regular and special incentive opportunities, to the extent, if any, that such distinction is applicable), savings opportunities and retirement benefit opportunities, in each case, less favorable, in the aggregate, than the most favorable of those provided by the Company and its affiliated companies for the Executive under such plans, practices, policies and programs as in effect at any time during the 120-day period immediately preceding the Effective Date or if more favorable to the Executive, those provided generally at any time after the Effective Date to other peer executives of the Company and its affiliated companies.

  • Pension All present employees enrolled in the Hospital's Pension Plan shall maintain their enrolment in the Plan subject to its terms and conditions. New employees and employees employed but not yet eligible for membership in the Plan shall, as a condition of employment, enrol in the Plan when eligible in accordance with its terms and conditions.

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!