Profit Sharing Payment Clause Samples
The Profit Sharing Payment clause defines how profits generated from a specific business activity or partnership will be distributed among the involved parties. Typically, this clause outlines the calculation method for profits, the timing and frequency of payments, and the proportion each party is entitled to receive. For example, it may specify that profits are calculated quarterly and distributed based on each party’s ownership percentage. The core function of this clause is to ensure transparency and fairness in the allocation of profits, thereby preventing disputes and aligning the interests of all parties involved.
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Profit Sharing Payment. All full-time regular Associates of RSDC who are actively employed on March 31st (October 1–March 31 coverage period) and September 30th (April 1–September 30 coverage period) will be eligible to participate in the Plan for the applicable coverage period.
Profit Sharing Payment. For each calendar month, a Profit Sharing Payment (“PSP”) is paid by ETP to MPC for volumes blended at the Bay City terminal. The PSP is calculated as the volume of gallons blended (“GB”) at Bay City in such month multiplied by fifty percent multiplied by the following value: (A) the volume weighted daily average of the high and low assessments of Argus posted Chicago Cycle 1 gasoline price (85 CBOB) minus (B) the volume weighted daily average of the high and low assessments of the OPIS posted Mt. Belvieu TET normal butane price minus (C) the average supply cost. Fee calculations pursuant to this Schedule 5.1 for butane blending services completed prior to July 1, 2019 shall not be affected by changes in the foregoing formulas.
Profit Sharing Payment. The Company shall pay to the Trust an amount equal to 20% of the sum of Profits (or zero if Profits is a negative number) and Government Proceeds within 30 days following the last day of the month during which the Closing Date occurs, for the period beginning on the first day of the Fiscal Year in which the Closing Date occurs and ending on the day prior to the Closing Date. Such amount shall be determined in good faith by management of the Company based on the financial results of the Company and reasonable assumptions and estimates, in each case determined in a manner consistent with past practice for the determination of Profits for the Company's Fiscal Years under the Supplemental Agreement. When the Company makes the payment of Profits pursuant to this Section 3.02, it shall deliver to the Trust a certificate signed by the chief executive officer, the chief financial officer or the controller of the Company setting forth in reasonable detail the computation of such Profits and explaining any material assumptions or estimates used in such computation. If the Closing Date occurs on a day other than the first day of a month, Profits for the period from the first day of such month to the day prior to the Closing Date (the "Profit Period") shall be the product of (A) Profits for such month multiplied by (B) the quotient of (i) the number of days in the Profit Period divided by (ii) the number of days in such month. Notwithstanding anything to the contrary contained in this Agreement or in the Second Amended and Restated Supplemental Agreement, the Company shall remain obligated to make the payment required by Section 2.03(a) of the Supplemental Agreement with respect to any Fiscal Year of the Company which ends prior to the Fiscal Year in which the Closing Date occurs and for which such payment has not been made as of the date of this Agreement. The parties agree that Profits shall be determined by not giving effect to any Disposition or the transactions contemplated by this Agreement, including, without limitation, any payment of Profits pursuant to this Section 3.02, the issuance of the Conversion Shares pursuant to Section 3.01, the Dividend or any accounting or tax effects relating to any of the foregoing.
Profit Sharing Payment. In addition to the pay increases, agreement has been reached for profit sharing over the life of this agreement. For each financial year up to and including 2024/2025, a one-off payment will be made to employees, payable on Royal Mail Group Ltd returning an operating profit in any financial year in that period. The first 20% of operating profit will be distributed as a one- off payment to employees, paid after publication of the company’s audited accounts. Any payment is a non-consolidated, non-contractual bonus subject to tax and national insurance. To receive the one-off payment employees must be in Royal Mail employment on the date the applicable payment is paid.
Profit Sharing Payment. All ROW Royalty Payments shall be accompanied by a report setting forth the Net Sales of the Product and their calculations during the applicable fiscal quarter of Neutron ROW forming the basis of such ROW Royalty Payment.
Profit Sharing Payment