After Tax Profits definition

After Tax Profits means the Net income or Net loss of the Corporation as set forth in its audited Consolidated Statement of Income or Loss for each Year, adjusted to deduct extraordinary gains or gains which arise from the disposal by the Corporation of existing businesses or fixed assets as set forth in its audited Consolidated Statement of Income or Loss;

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After Tax Profits has the meaning set forth in Section 1.3.

After Tax Profits shall be calculated by deducting from the income of MMI which is passed through and taxed to its shareholders an amount equal to the sum of the taxes payable thereon by each shareholder which shall be determined for each shareholder by multiplying each shareholder's share of the income so allocated by the effective combined federal and state income tax rate applicable to that shareholder for the same taxable period.

Examples of After Tax Profits in a sentence

The Executive shall receive additional incentive bonuses, if earned,with respect to the fiscal years ending during the Term pursuant to Subsection 13.2.3 and/or 13.2.4 (each an "Additional Incentive Bonus"); provided, however, that no Additional Incentive Bonus for a fiscal year shall be payable if the Net After-Tax Profits (as hereinafter defined) for such fiscal year do not exceed Base Profits (as hereinafter defined).
The Chief Financial Officer shall calculate the Net After-Tax Profits, and any Additional Incentive Bonus payable to the Executive in connection therewith, shall certify such calculations and shall deliver such calculations to the Executive as soon as reasonably practicable after the end of each fiscal year, but in any event within seventy-five (75) days following the end of such fiscal year.
Such stock options shall vest on the fifth anniversary of the date of grant, subject to (i) performance by Frame of his duties under this agreement and (ii) earlier vesting in cumulative installments of one-third of the total shares subject thereto when the Company's gross revenues reach $150,000,000, $175,000,000, and $200,000,000, respectively, if the Company's Net After-Tax Profits are at least 4% of gross revenues for the fiscal year in which such revenue target is attained.
If Net After-Tax Profits for a fiscal year exceed Base Profits for such fiscal year, the Executive shall receive an Additional Incentive Bonus (in addition to any Additional Incentive Bonus pursuant to Subsection 13.2.4) equal to the Applicable Percentage set forth in the table below multiplied by the difference between actual Net After- Tax Profits and Base Profits.
Net After-Tax Profits" means the amount of net profits of the Company calculated by the chief financial officer of the Company applying generally accepted accounting principles and such other accounting principles and assumptions as may be reasonable, and subtracting therefrom all income tax liabilities of the Company.
The Executive shall receive an additional incentive bonus, if earned, with respect to the fiscal years ending during the Term (the "Additional Incentive Bonus"); provided, however, that an Additional Incentive Bonus for a fiscal year shall only be payable if the Net After-Tax Profits (as hereinafter defined) for such fiscal year exceed Base Profits (as hereinafter defined).
If Net After-Tax Profits for a fiscal year exceed Base Profits for such fiscal year, the Executive shall receive an Additional Incentive Bonus equal to the Applicable Percentage set forth in the table below multiplied by the difference between actual Net After-Tax Profits and Base Profits.
Frame shall receive a profit bonus, if earned, with respect to the fiscal years ending during the Term (the "Profit Bonus"), calculated in accordance with this Section 2.2; provided, however, that no Profit Bonus will be payable for any fiscal year if the Net After-Tax Profits (as hereinafter defined) for such fiscal year are less than or equal to $800,000.
The chief financial officer of the Company shall calculate the gross revenues, Net After-Tax Profits, and any Bonuses payable to Frame in connection therewith, shall certify such calculations and shall deliver such calculations to Frame and the Chairman of the Company Compensation Committee (for his review and approval) as soon as reasonably practicable after the end of each fiscal year during the Term, but in any event within seventy-five (75) days following the end of such fiscal year.
Paragraph 3.10 of the Disclosure Schedule sets forth (i) the unaudited consolidated balance sheet of the Company Group as of December 31, 2007 and (ii) the unaudited consolidated statements of operations and statements of cash flows of the Company Group for the fiscal year ended December 31, 2007 (collectively, the “Unaudited Financial Statements”), which reflect the Company having earned After-Tax Profits not less than $3,900,000.

More Definitions of After Tax Profits

After Tax Profits means the net income of the Surviving Company and its Subsidiaries and Affiliated Broker on a consolidated basis (excluding after-tax profits from any subsequent acquisitions of assets or equity interests that have a dilutive effect), which shall be audited pursuant to U.S. GAAP that were used for the purpose of preparing the Company’s financial statements, and subject to the audit by the Surviving Company’s independent accountants, provided, however, that the computation shall exclude the Taxes and expenses incurred in connection with the Business Combination.

After Tax Profits or “PAT” means the consolidated net income of DCC on an after-tax basis determined in accordance with Generally Accepted Accounting Principles, consistently applied for the period from October 1, 2001, through December 31, 2002. For the purpose of determining PAT: (1) PAT is inclusive of any gains realized from the sales of the businesses or assets of DCC. Any capital gains recognized will be recorded without any tax expense. All other gains will be taxed at the appropriate federal statutory tax rate. (2) No tax reserves will be taken into income for purposes of determining PAT unless otherwise approved by Dana’s CFO or Vice President-Finance. (3) Credit reserves that are in excess of $

After Tax Profits or “P▇▇” means the consolidated net income of DCC on an after-tax basis determined in accordance with Generally Accepted Accounting Principles, consistently applied for the period from October 1, 2001, through December 31, 2002. For the purpose of determining P▇▇:

After Tax Profits means, as to any Person, with respect to any period, the consolidated net income of such Person and its Subsidiaries after deducting all charges which should be deducted before arriving at consolidated net income for such period, all in accordance with GAAP, consistently applied, and after deducting (without duplication) the Provision for Taxes for such fiscal year. For purposes of this Section 1.5, "Provision for Taxes" shall mean an amount equal to all taxes imposed on or measured by net income, whether federal, state or local, and whether foreign or domestic, as recorded by such Person and its Subsidiaries in respect of such fiscal year in accordance with GAAP, consistently applied; provided, that, if such Person and its Subsidiaries are members of a larger consolidated group of corporations in respect of any fiscal year, the "Provision for Taxes" shall be deemed to mean an amount equal to the highest of (a) the Provision for Taxes determined without reference to this proviso, or (b) the amount of all taxes that would be imposed on, or measured by, net income that would be paid or payable by such Person and its Subsidiaries if they were not members of such consolidated group, or (c) the total of all taxes imposed on, or measured by, net income that are paid or payable by such Person and its Subsidiaries plus the amount of any payments made or required to be made by such person or its Subsidiaries to any other members of such consolidated group under any tax sharing arrangements or that are otherwise in lieu of the payment of such taxes; provided, further, that, solely for purposes of Sections 7.5(c)(ii), 7.6(b)(iii) and 7.7(b) of this Agreement, the charges net of taxes incurred by WCI Steel in November of 1996 for extraordinary losses, stock grant amortization and net worth [appreciation] amounting to $24,799,000 shall not be included in the calculation of After-Tax Profits.

After Tax Profits means the profit on ordinary activities of the Company after extraordinary and exceptional items, fees, commissions and other similar costs, expenses and charges interest and similar amounts and after Taxation in respect of each relevant period commencing on 1 January and ending 31 December; 'Company's Auditors' means Kingston ▇▇▇▇▇, Devonshire House, ▇▇ ▇▇▇▇▇▇▇ ▇▇▇▇, ▇▇▇▇▇▇ ▇▇▇▇ ▇▇▇ 'SSAP' means Statement of Standard Accounting Practice in force at the date hereof; and references to a paragraph or sub-paragraph are to paragraphs of sub-paragraphs of this Schedule.

After Tax Profits for a year means the net income earned by the Corporation during that year, after the deduction of U.S. federal income taxes, state and local income and franchise taxes and foreign income taxes, as shown on financial statements prepared in accordance with generally accepted accounting principles applied on a consistent basis.