The Profit Sharing Bonus Pool Sample Clauses

The Profit Sharing Bonus Pool. An annual Profit Sharing Bonus Pool will be calculated and funded separately for Titan Tire Corporation of Xxxxx for the second, third, fourth and fifth calendar years of the five-year duration of the Collective Bargaining Agreement. There shall be no Profit Sharing Bonus during the first calendar year of the five-year duration of the Collective Bargaining Agreement. The Profit Sharing Bonus Pool will be determined on a calendar year basis, based upon the financials of Titan Tire Corporation of Xxxxx as prepared by the Company’s regularly engaged accountants. After assessing and deducting for corporate allocations, the amount contributed by the Company for Titan Tire Corporation of Xxxxx beginning with the second year, and continuing thereafter on a yearly basis for the third, fourth and fifth years shall be two and one quarter percent (2.25%) of the pre-tax operating income, or profit, of Titan Tire Corporation of Xxxxx, which for purposes of this Profit Sharing Bonus, shall be defined as gross margin, minus plant operating expenses, less corporate allocations based on plant revenue and minus depreciation and amortization. The financial information utilized for the calculation of the Profit Sharing Bonus Pool shall be the financial reports assembled by the Company’s regularly engaged accountants.
Sample 1
AutoNDA by SimpleDocs

Related to The Profit Sharing Bonus Pool

  • Incentive Pay (1) For any calendar year: in which twenty-five percent (25%) of the number of members employed as of January 1 of each year are rated as either Level II or Level III in every phase of the PFT then

  • Annual Bonus In addition to Annual Base Salary, Executive shall be awarded, for each fiscal year ending during the Employment Period, an annual bonus (the “Annual Bonus”) in cash at least equal to Executive’s highest annual bonus for the last three full fiscal years prior to the Effective Date (annualized in the event that Executive was not employed by the Company for the whole of such fiscal year). Each such Annual Bonus shall be paid no later than the end of the third month of the fiscal year next following the fiscal year for which the Annual Bonus is awarded, unless Executive shall elect to defer the receipt of such Annual Bonus.

  • Incentive Payments The Settlement Fund Administrator will treat incentive payments under Section IV.F on a State-specific basis. Incentive payments for which a Settling State is eligible under Section IV.F will be allocated fifteen percent (15%) to its State Fund, seventy percent (70%) to its Abatement Accounts Fund, and fifteen percent (15%) to its Subdivision Fund. Amounts may be reallocated and will be distributed as provided in Section V.D.

  • SHIFT BONUS 7:01 A day shift shall be a shift that commences after 4:30 a.m. and at or before 10:00 a.m. on the same day.

  • Bonus The Executive shall be eligible for Bonuses determined by the Board.

  • Performance Bonus If Employee's employment is terminated by Employee with cause, or by Bank without cause, Employee shall be paid, in addition to the amounts payable under Sections 3.5 and 3.6 of the Agreement: (i) all non-forfeitable deferred compensation, if any; and (ii) unpaid performance bonus payments, if any, payable under Section 4.2 of the Agreement, which shall be declared earned and payable based upon performance up to, and shall be pro-rated as of, the date of termination. Employee shall not be entitled to such unpaid performance bonus payments if Employee's employment is terminated by Bank with cause, or by Employee without cause.

  • Retirement Bonus 22:01 Employees retiring in accordance with the following:‌

  • Incentive Payment 11.3.1 An employer may offer and an employee may accept an early retirement incentive based on the age at retirement to be paid in the following amounts Age at Retirement % of Annual Salary at Time of Retirement 55 to 59 100% 60 80% 61 60% 62 40% 63 20% 64 0%

  • Bonus Payments In addition to Base Salary, Executive shall be entitled, during the Employment Term, to participate in and receive payments from all bonus and other incentive compensation plans (as currently in effect, as modified from time to time, or as subsequently adopted) of the Company; provided, however, that nothing contained herein shall grant Executive the right to continue in any bonus or other incentive compensation plan following its discontinuance by the Board (except to the extent Executive had earned or otherwise accumulated vested rights therein prior to such discontinuance).

  • Education Incentive Pay An employee shall be entitled to receive educational incentive pay as follows:

Time is Money Join Law Insider Premium to draft better contracts faster.