Profit Sharing Benefit Sample Clauses

Profit Sharing Benefit. Executive shall be eligible to receive an annual profit sharing benefit based on the combined amount of Executive’s Base Salary and, if applicable, Executive’s discretionary performance bonus, after Executive meets the eligibility requirements of the applicable profit sharing plan. The Board shall decide the exact amount of this benefit annually in its sole discretion. Employer shall contribute this benefit for the account of Executive to Employer’s tax-qualified retirement plan and/or any nonqualified deferred compensation plan that Employer establishes or maintains. All such profit sharing benefit payments shall be determined and governed by the terms of the applicable plan as may be in effect from time to time. Employer shall have no obligation to continue to maintain any particular benefit plan or arrangement and the profit sharing benefit described in this Section 3(d) may be amended or terminated by Employer at any time for any reason or no reason, provided such amendment or termination applies to all other similarly situated senior executives of Employer.
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Profit Sharing Benefit. Executive will receive an annual profit sharing benefit based on the combined amount of Executive’s annual Base Salary and, if applicable, Executive’s performance bonus after Executive meets the eligibility requirements of the applicable profit sharing plan. The Board will decide the exact amount of this benefit annually. First Busey will contribute this benefit for the account of Executive to First Busey’s tax-qualified retirement plans and/or any nontax-qualified deferred compensation programs that First Busey may elect to establish or maintain. All such benefit payments will be determined and governed by the terms of the particular plan or program. First Busey shall have no obligation to continue to maintain any particular benefit plan or arrangement and this benefit may be amended or terminated by First Busey at any time for any reason, provided such termination applies to all other similarly situated officers of First Busey.
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Profit Sharing Benefit. During the Term of this Agreement, Executive shall be eligible to receive an annual profit sharing benefit based on the combined amount of Executive’s Base Salary and, if applicable, Executive’s discretionary performance bonus, after Executive meets the eligibility requirements of the applicable profit sharing plan. The Board shall decide the exact amount of this benefit annually in its sole discretion. Employer shall contribute this benefit for the account of Executive to Employer’s tax-qualified retirement plans and/or any nonqualified deferred compensation plan that Employer establishes or maintains. All such profit sharing benefit payments shall be determined and governed by the terms of the applicable plan. Employer shall have no obligation to continue to maintain any particular benefit plan or arrangement and the profit sharing benefit described in this Section 3, may be amended or terminated by Employer at any time for any reason or no reason, provided such amendment or termination applies to all other similarly situated officers of Employer.
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Profit Sharing Benefit. Employee will receive an annual profit sharing benefit that will range between 8% and 15% of the combined amount of his annual base salary and performance bonus. The Board will decide the exact amount of this benefit annually within that range. First Busey will contribute this benefit to First Busey’s tax-qualified retirement plans and/or its non tax-qualified deferred compensation programs for the account of Employee. All such benefit payments will be determined and governed by the terms of the particular plan or program.
Sample 1
Profit Sharing Benefit. Bob may receive an annual profit sharing benefit of up xx xxx percent (10%) of the combined amount of his annual base salary and if applicable, his performance bonus. The Board will decide the exact amount of this benefit annually within that range. BIF will contribute this benefit for the account of Bob to BIF's tax-qualified retirement plans and/or any nontax-qualified deferred compensation programs that BIF may elect to establish. All such benefit payments will be determined and governed by the terms of the particular plan or program.
Sample 1
Profit Sharing Benefit. Xxxxx will receive an annual profit sharing benefit that will range between 5% and 10% of the combined amount of his annual base salary and if applicable, his performance bonus. The Board will decide the exact amount of this benefit annually within that range. The Bank will contribute this benefit for the account of Xxxxx to the Bank's or Main Street's tax-qualified retirement plans and/or any nontax-qualified deferred compensation programs that the Bank or Main Street may elect to establish. All such benefit payments will be determined and governed by the terms of the particular plan or program.
Sample 1
Profit Sharing Benefit. Van will receive an annual profit sharing benefit that will range between 8% and 15% of the combined amount of his annual base salary and performance bonus. The Board will decide the exact amount of this benefit annually within that range. Main Street will contribute this benefit to Main Street's tax-qualified retirement plans and/or its nontax-qualified deferred compensation programs for the account of Van. All such benefit payments will be determined and governed by the terms of the particular plan or program.
Sample 1
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Profit Sharing Benefit. Greg will receive an annual profit sharing benefit that wxxx range between 8% and 15% of the combined amount of his annual base salary and performance bonus. The Board will decide the exact amount of this benefit annually within that range. Main Street will contribute this benefit to Main Street's tax-qualified retirement plans and/or its nontax-qualified deferred compensation programs for the account of Greg. All such benefit payments will be determined and xxverned by the terms of the particular plan or program.
Sample 1
Profit Sharing Benefit. Phil will receive an annual profit sharing benefit that will range between 5% and 10% of the combined amount of his annual base salary and if applicable, his performance bonus. The Board will decide the exact amount of this benefit annually within that range. The Employer will contribute this benefit for the account of Phil to the Bank's or Main Street's tax-qualified retirement plans and/or any nontax-qualified deferred compensation programs that the Bank or Main Street may elect to establish. All such benefit payments will be determined and governed by the terms of the particular plan or program.
Sample 1

Related to Profit Sharing Benefit

  • 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 Benefits Etc During the Employment Period, the Manager shall be compensated as follows:

  • Fringe Benefit The benefits provided by this Agreement are granted by the Employer as a fringe benefit to the Executive and are not a part of any salary reduction plan or any arrangement deferring a bonus or a salary increase. The Executive has no option to take any current payments or bonus in lieu of the benefits provided by this Agreement.

  • Group Benefits To determine if a leave under the provisions of the Family and Medical Leave Act will be a paid or unpaid leave, contact the District’s Human Resources Department.

  • Post-Retirement Benefits The present value of the expected cost of post-retirement medical and insurance benefits payable by the Borrower and its Subsidiaries to its employees and former employees, as estimated by the Borrower in accordance with procedures and assumptions deemed reasonable by the Required Lenders is zero.

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