Profit Sharing Program. All employees covered by this Agreement will participate in a pre-tax profit sharing program pursuant to the terms of Exhibit C to Letter of Agreement 05-03M.
Profit Sharing Program. The parties hereto acknowledge and agree that the Board intends to implement a profit sharing program whereby up to * of the cash equivalent of the Distributable Value (as determined by the Board in good faith) of each Distribution made in accordance with this Agreement may be distributed to certain officers, employees or contractors of the Company and its Affiliates, as and when determined by the Board in good faith. Any amount distributed to employees or contractors of the Company or its Affiliates pursuant to this Section 4.8 shall be referred to herein as a “Profit Sharing Distribution Amount.” Except for calculation of Distributable Value, the Profit Sharing Distribution Amount shall not be taken into account when making calculations with respect to Distributions made pursuant to Section 4.5, including calculations of the Distributable Value, Projected Distributable Value, Projected Investment Value and Unrecovered Investment Balance.
Profit Sharing Program. In addition to the foregoing base salary and bonuses, the Executive shall be entitled to 12% of the 10% of profits before taxes.
Profit Sharing Program. 1 . The Profit Sharing Plan shall become effective on January 1, 2006 . The Union will advise the Company whether in lieu of a cash distribution, Flight Attendants profit sharing distribution should be made as an additional Direct Company Contribution to the Flight Attendants’ 401(k) Plan accounts .
2 . All Flight Attendants who have completed one year of service as of December 31st of the year for which Pre-Tax Earnings are being measured will be eligible to participate in a pre-tax profit sharing program with respect to calendar years beginning in 2005 .
3 . Pre-tax Earnings is UAL consolidated net income as determined in accordance with U .S . generally accepted accounting principles (GAAP), but excluding (i) federal, state and local income tax expenses (or credit); (ii) unusual, special or nonrecurring charges or (iii) charges with respect to grant, exercise or vesting of equity, securities or options granted to UAL and United employees, and (iv) expenses associated with the profit sharing contributions .
4 . The profit sharing program described below shall become effective for profit sharing payments in 2017, and profit sharing payments thereafter . The Company profit sharing plan shall provide that in the event that the Company has more than $10 million in Pre-Tax Earnings in the relevant calendar year, then the Flight Attendant Annual Profit Sharing Pool shall be based on two components:
Profit Sharing Program. We want you to have a voice and a sense of commitment to the overall success of other advisors. The company allows any full time, full Broker Advisor* who has had at least 12 transactions in the calendar year to participate in the program. 10% of the company’s year-end net profit will be divided out amongst the participants based on their total GCI and total GCI of the members in the program. To be eligible you must be with the firm on Jan 1s t of the following year.
Profit Sharing Program a. All pilots will participate in a pre-tax profit sharing program with respect to calendar years beginning in 2005.
b. Pre-tax Profit is consolidated UAL pre-tax earnings as calculated under U.S. generally accepted accounting principles and reported in regulatory filings but excluding (i) unusual, special or extraordinary charges or (ii) charges with respect to grant or exercise of employee equity or options or (iii) charges with respect to payments under this profit sharing program.
c. The Annual Profit Sharing Pool is 15% of the excess of (i) annual Pretax Profit over (ii) the Annual Plan Threshold, but in no event more than the Pool Cap.
d. The Annual Plan Threshold is the product of (i) net UAL revenues and (ii) the following percentages (which represent net pretax profit margins):
Profit Sharing Program. In further recognition of the immediate value of the Participating Pilots’ Investments to the Company and Republic as set forth above, the Company shall enter into a Frontier Airlines Pilots Profit Sharing Plan (the “Plan”) that includes:
1. Republic shall provide FAPAInvest or another entity designated by the Participating Pilots with audited GAAP financial statements for Frontier Airlines Holdings, Inc. no later than 120 days after the end of the calendar year 2011 and each year thereafter.
2. For the duration of this Agreement, the Company shall make contributions to the Plan as follows:
a. For the pretax earnings greater than 2% but less than 4% of total Company revenue, 50% shall be contributed to the Plan.
b. For all pretax earnings greater than 4% but less than 6% of total Company revenue, 25% shall be contributed to the Plan.
c. For all pretax earnings greater than 6% of total Company revenue, 10% shall be contributed to the Plan.
d. 50% of contributions to the Plan shall be paid to the Plan and the remaining 50% shall be paid to other participating employees of the Company.
e. The Company shall distribute all profit sharing payments no later than April 30 of each year, based on the audited results from the preceding calendar year.
Profit Sharing Program a. The Profit Sharing Plan shall become effective on January 1, 2006. The Union will advise the Company whether in lieu of a cash distribution, Flight Attendants profit sharing distribution should be made as an additional Direct Company Contribution to the Flight Attendants’ 401(k) Plan accounts.
b. All Flight Attendants who have completed one year of service as of December 31st of the year for which Pre-Tax Earnings are being measured will be eligible to participate in a pre-tax profit sharing program with respect to calendar years beginning in 2005.
c. Pre-tax Earnings is UAL consolidated net income as determined in accordance with U.S. generally accepted accounting principles (GAAP), but excluding (i) federal, state and local income tax expenses (or credit); (ii) unusual, special or nonrecurring charges or
Profit Sharing Program. 24.01 The Company will as of December 31, 2000 replace the current profit sharing plan with the Alcoa Performance Pay Plan as described in the letter of agreement. The Company agrees that Employees will receive pay out of any moniew owning under the old plan. (Provide explanation/sample of Performance pay plan in agreement)
Profit Sharing Program. All employees covered by this Agreement will participate in a pre-tax profit sharing program with respect to calendar years beginning in 2005.
a. Pre-tax Profit is consolidated UAL pre-tax earnings as calculated under U.S. generally accepted accounting principles and reported in regulatory filings but excluding (i) unusual, special or extraordinary charges or (ii) charges with respect to grant or exercise of employee equity or options or (iii) charges with respect to payments under this profit sharing program.
b. The Annual Profit Sharing Pool is 15% of the excess of (i) annual Pretax Profit over (ii) the Annual Plan Threshold, but in no event more than the Pool Cap.
c. The Annual Plan Threshold is the product of (i) net UAL revenues and (ii) the following percentages (which represent net pretax profit margins): 2005 8% 2006 10% 2007 10% 2008 10% 2009 10% d. The Pool Cap is 8% of Wages of all participating employees. e. The Union's share (IAM 141M) of the Annual Profit Sharing Pool is % of the Pool. f. The Union will determine the manner in which its represented employees share of the Annual Profit Sharing Pool is distributed.
