Profit Sharing Arrangement Sample Clauses

Profit Sharing Arrangement. In June of each year commencing in 2007 you shall be entitled to share profits of the Company as declared by the Company in accordance with Indian Laws. You shall be given an amount from the net profits after tax of the Company equivalent to your ownership interest in the Company . For example, if you own 5% of the Company, you will be entitled to 5% of the net profits.
Sample 1
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Profit Sharing Arrangement. The parties acknowledge that PBSL, BV and Pijnenburg Custom Chips B.V. are parties to a profit sharing agreement dated December 12, 2000 (the “Profit Sharing Agreement”), as disclosed in Section 2.18(a) of the Company Disclosure Schedule. Parent and the Majority Stockholder agree that prior to the Closing, they shall enter into an agreement (the “Purchase Adjustment Agreement”), which shall become effective upon Closing and pursuant to which the Majority Stockholder will pay to Parent an amount in cash equal to the aggregate cost (after giving effect to any tax benefit to PBSL, BV) of the amount of any payments made by PBSL, BV pursuant to the Profit Sharing Agreement. The parties agree and acknowledge that any and all payments made under the Purchase Adjustment Agreement shall be treated as an adjustment in the purchase price paid by Parent under this Agreement.
Sample 1
Profit Sharing Arrangement. 32.1 The Company is committed to implement a profit sharing scheme with employees. The scheme is intended to encourage valued employees to remain in the company’s employment and to provide additional reward to employees who bring business to the company. In this manner both the company and its employee can share in the benefits deriving from those activities in terms of both income and employment security. The basic feature of the scheme will be: 32.2 The scheme will establish a pool of funds equal to 10% of the profit of the company in the preceding financial year. 32.3 The Company will consult with the Alliance regarding the timing, arrangement and staff eligibility of the payment. 32.4 The Company reserves the right to suspend the Profit Sharing Arrangement for a period of that financial year in circumstances where the financial position of the company means that the continuation of the Arrangement would unduly place at risk the financial health of the company. Prior to any decision to suspend the arrangement the Company shall consult with staff and and the Union if staff so request. 32.5 For the purpose of this clause undue risk to the financial health of the Company means a circumstance where he Directors of the Company have taken a decision that there will be no distribution of profit for the period in question.
Sample 1
Profit Sharing Arrangement. 41.1 Essential is committed to a profit-sharing Arrangement with Employees. 41.2 The Arrangement will establish a pool of funds equal to 10 per cent of the before tax profit of Essential in the preceding financial year. 41.3 Essential reserves the right to suspend the Profit-Sharing Arrangement for a period of that financial year in circumstances where the financial position of Essential means that the continuation of the Arrangement would unduly place at risk the financial health of Essential. Prior to any decision to suspend the arrangement Essential shall consult with staff. 41.4 For the purpose of this clause, undue risk to the financial health of Essential means a circumstance where the Directors of Essential have taken a decision that there will be no distribution of profit for the period in question. 41.5 All Employees Classified as Level A, B, C and D are eligible for the Arrangement. 41.6 Eligible employees must have completed 12 months service for the preceding financial year. 41.7 The established pool of funds will be distributed equally amongst eligible employees, Pro rata for part time employees. 41.8 As per Essential policy any change to the policy will require prior consultation and majority agreement with Employees. Schedule 1: Classification Structure and Rates of Pay The Company positions can be classified into one of the below categories and the core competencies for each role are broadly as below though not limited to the same. Individual Position Descriptions for the relevant positions should be referred to for more detailed information as to accountabilities and expectations of the roles themselves. A Associate Director ● Senior Business Development ● Strategic Advice and Leadership ● Highest Level Project and Campaign Management and Administration ● High-level Relationship Management ● Organisational and Team Leadership ● Comprehensive Knowledge of full Essential’s service offering ● Specific skills to department at a high level (such as): o Client Management o Research Design and Methodology o Digital and Production Skills o Team Management ● Business Operations – HR, payroll, reporting, budgeting From 1 July 2022 Account Director $130,000 - Research Director From 1 July 2023 Business Development Manager $133,900 - Business Unit Manager From 1 July 2024 $137,917 - Chief Financial Officer From 1 July 2025 $142,055 - B Senior Account Manager / Team Leader (S) ● Client and Issues Management ● Project Management ● Administration and IT ...
Sample 1
Profit Sharing Arrangement. (1) THIL shall receive a percentage equal to its share in the Venture (as determined under Clause 3) of the aggregate Net Profit generated through Fusion's sale of VoIP minutes terminating to Pakistan through the Pakistan VoIP Project, to be accounted for and distributed in accordance with the terms set forth in (5) below. (2) Fusion shall make settlement with and payment to THIL, on a monthly basis, within thirty (30) days after the end of each month. Each monthly payment will be based upon the management accounts produced by Fusion. At the conclusion of each of Fusion's financial year, an adjustment will be made to the payment of the preceding fiscal year to reflect any audit adjustments that were made based on the management accounts. Any disputes will be resolved through mutually agreed procedures. (3) Fusion hereby agrees and undertakes that it shall keep a separate accounting and books of record for the Pakistan VoIP Project but the cash flows there from may be managed by Fusion as part of its overall cash management. (4) All payments, where applicable, shall be made via irrevocable wire transfer to: THIL: HARRIS BANK INTERNATINAL CORPORATIOX0 XXXES SQUARE NEW YORK 10030 XXXXX: XXXXXX00 CHIPS: 186313 Account No: Standard Bank, Jersey Account No: 16026635 Reference: 707865/Xxxxxx Hill Investment Limited FXXXXN: Chase Manhattan Bank ABA #: 021000021 Acct #: 777-390500 For: Fusion Telecommunications International, Inc. 420 Lexington Ave, Ste 518 Xxx Xxxx, XX 00000 (0) Xxxxxxxxxxx xx xxx xxxxs and conditions to be used to calculate profit sharing are as follows:
Sample 1
Profit Sharing Arrangement. (a) Purchaser and JPM CCC may from time to time, in the sole discretion of each respective Party, enter into Specific Identified Transactions with third parties in order to take advantage of trading opportunities around this Agreement and/or the storage facilities of Purchaser and MPL located in Xxxxxxx Xxxxx, Xxxxxxxxx xxx Xxxxxxxxxx, Xxxxxxxxx. Either Party may identify a proposed Specific Identified Transaction to the other Party. The profit-sharing arrangement between the Parties with respect to a Specific Identified Transaction shall be evidenced by a Specific Indentified Transaction Confirmation and, unless otherwise agreed by the Parties, performed in accordance with the terms set forth in such Specific Indentified Transaction Confirmation. (b) Purchaser shall be entitled to receive [*]% of the Net Profits resulting from any such Specific Identified Transaction and Purchaser shall be liable for [*]% of the Net Losses resulting from any such Specific Identified Transaction proposed by Purchaser. (c) If any Specific Identified Transaction identified and proposed by JPM CCC to Purchaser results in Net Losses [*]. (d) Any Net Profits and any Net Losses resulting from any Specific Identified Transaction shall be calculated by JPM CCC, in accordance with parameters to be agreed between JPM CCC and Purchaser prior to the initiation of such Specific Identified Transaction and in consultation with Purchaser (but subject to performance of such Specific Identified Transaction being consistent with the performance anticipated by the Parties at the time the parameters were established and there not being any other unanticipated costs or events), after the termination or expiration of such Specific Identified Transaction and shall be invoiced by JPM CCC to, and credited to or paid by Purchaser, as applicable, in accordance with Section 3.2. (e) For the avoidance of doubt, (i) notwithstanding anything to the contrary contained herein, grade optimizations proposed by Purchaser shall not be Specified Identified Transactions under this Agreement and [*].
Sample 1
Profit Sharing Arrangement. With effect from Completion, the Buyer agrees that if any Buyer Group Member or Haulage Entity enters into an Agreed Customer Contract, the Buyer (as guarantor) will, and will procure that the relevant Buyer Group Member or Haulage Entity (as applicable) which is a party to the Agreed Customer Contract, delivers to the Seller a Profit Xxxxxxx Xxxx executed by each of them in respect of the relevant Agreed Customer Contract.
Sample 1
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Profit Sharing Arrangement. The parties agreed that the monthly net profit generated from the hotel business will be shared as below from the Issue Date until the Completion Date.
Sample 1
Profit Sharing Arrangement 
Sample 1

Related to Profit Sharing Arrangement

  • 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).

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

  • Compensation; Employment Agreements; Etc Enter into or amend or renew any employment, consulting, severance or similar agreements or arrangements with any director, officer or employee of Metropolitan or its Subsidiaries, or grant any salary or wage increase or increase any employee benefit (including incentive or bonus payments), except (i) for normal individual increases in compensation to employees in the ordinary course of business consistent with past practice, (ii) for other changes that are required by applicable law, and (iii) to satisfy Previously Disclosed contractual obligations existing as of the date hereof.

  • 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.

  • 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.

  • Deferred Compensation Plan Manager shall be eligible to participate in the First Mid-Illinois Bancshares, Inc. Deferred Compensation Plan in accordance with the terms and conditions of such Plan.

  • Revenue Sharing Agreement This Note is subject to the Company’s Revenue Sharing Agreement attached hereto as Exhibit B as if all the terms of the Revenue Sharing Agreement were set forth in this Note.

  • Deferred Compensation Plans Employees are to be included in the State of California, Department of Personnel Administration's, 401(k) and 457 Deferred Compensation Programs. Eligible employees under IRS Code Section 403(b) will be eligible to participate in the 403(b) Plan.

  • Compensation Arrangements (a) Following receipt of an RoU Claim Notice in respect of a Type 2 Restriction of Use, Network Rail and the Train Operator shall (if they have not already done so) commence negotiations in respect of the RoU Direct Costs compensation to be paid by one party to the other in respect of such Type 2 Restriction of Use and, subject to paragraph 10, shall continue such negotiations in good faith until they are concluded. (b) Once the compensation referred to in paragraph 6.1(a) has been agreed or determined (and has been compared against any amounts calculated under paragraph 4 together with any other amounts paid or due to the Train Operator from Network Rail in relation to such Restriction of Use) then, in the event of: (i) a shortfall for the Train Operator, the compensation to be paid by Network Rail to the Train Operator shall be the full amount of the RoU Direct Costs actually incurred by the Train Operator less any amounts calculated under paragraph 4 which have already been paid or are due for such Restriction of Use and any other amounts in respect of any RoU Direct Costs received by the Train Operator from Network Rail in respect of such Restriction of Use; or (ii) an overpayment by Network Rail to the Train Operator, the compensation to be paid by the Train Operator to Network Rail shall be the difference between the amount received by the Train Operator which was calculated under paragraph 4 and the RoU Direct Costs actually incurred by the Train Operator in respect of such Restriction of Use. (c) Network Rail shall include in the statement provided by it in respect of each Period under paragraph 13.1(a) details of the compensation agreed or determined under this paragraph 6 and paragraph 10 to be payable in respect of any Type 2 Restriction of Use taken in that Period and that compensation shall be due and payable by the relevant party to the other in accordance with paragraph 13.1.

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