Profit Sharing Year Sample Clauses

Profit Sharing Year. Premium 1. Eligible Earned Premium for Profit Sharing Year $ 2. Premium Written Off $ 3. Ceded Facultative Reinsurance $ 4. Net Eligible Earned Premium $ 5. Commissions incurred for Profit Sharing Year $ 6. Losses and ALAE Incurred for Profit Sharing Year $ 7. TPA Claims Fee for Profit Sharing Year $ 8. Claims Charge for Profit Sharing Year (% times line 4) $ 9. IBNR Charge for Profit Sharing Year $ 10. Taxes, Licenses and Fees for Profit Sharing Year $ 11. Operating Charge (% times line 4) $ 12. Dividends Incurred for Profit Sharing Year $ 13. Expense Total (Sum of Lines 5, 6, 7, 8, 9, 10, 11 and 12) $ 14. Profit Sharing Year Result (Line 4 minus line 13) $ (Can be negative) 15. Profit Sharing Factor 50 % 16. Profit to be Shared (Line 14 times Line 15) $ (Can be negative) 17. Payout Factor %
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Related to Profit Sharing Year

  • 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).

  • Vacation Year The vacation year shall be April 1 to March 31, inclusive.

  • Plan Year The year for the purposes of the plan shall be from September 1 of one year, to August 31, of the following year, or such other years as the parties may agree to.

  • Limitation Year The Limitation Year is: (Choose (c) or (d)) [ x ] (c) The Plan Year. [ ] (d) The 12 consecutive month period ending every _____.

  • Employer Contribution (a) An Employer contribution for health and dental benefits will only be made for each active employee who has at least eighty (80) paid regular hours in a month and who is eligible for medical insurance coverage, unless otherwise required by law. (b) It is understood that the administrative intent of this Article is that the Employer contribution is made for individuals who are participants in the medical insurance coverages. Participation will mean that eligible less-than-full-time employees who drop out of coverage will be considered to participate. Additionally, employees who elect to opt out of coverage for a cash incentive will be considered to participate.