Net Profit Shares definition

Net Profit Shares means:
Sample 1Sample 2Sample 3
Net Profit Shares means, on a given date, the number of Shares a Grantee receives determined as follows: (i) in the case of Options and SARs, the total number of Shares underlying the Options or SARs, as the case may be, that are being exercised on such date minus the sum of (A) the number of shares that would be required to be sold having a Fair Market Value equal to the aggregate Exercise Price for the Shares being purchased plus (B) the number of shares withheld or with a Fair Market Value equal to all applicable federal, state, local or foreign income or other taxes that are expected to be incurred by the Grantee in connection with the exercise of the Option or SAR, determined based upon the highest applicable marginal rate for each such tax, and (ii) in the case of Awards of Shares, Awards of restricted Shares and Awards that are valued in whole or in part by reference to, or are otherwise based on the Fair Market Value of, Shares (but excluding Performance- Based Awards and Awards that that do not entitle the Grantee to receive or purchase Shares) (each a “Full-Value Award”), the total number of Shares received upon the vesting or settlement of a Full-Value Award minus the number of Shares withheld or with a Fair Market Value equal to all applicable federal, state, local or foreign income or other taxes that are expected to be incurred by the Grantee in connection with the vesting or settlement of the Award, determined based upon the highest applicable marginal rate for each such tax.
Sample 1Sample 2
Net Profit Shares. (as defined below) acquired upon exercise of the Option must be held by you until the earlier of (i) the third anniversary of the exercise date or (ii) the date of your termination of employment with Bank of America and its Subsidiaries, other than termination of employment for “Cause,” as defined in Exhibit A. This period is referred to as the “Three-Year Hold Requirement”. Any attempt to sell, transfer, pledge, assign or otherwise alienate or hypothecate Net Profit Shares prior to completion of such period shall be null and void. For purposes hereof, “Net Profit Shares” means those Shares determined by the Global Human Resources Group representing the total number of Shares remaining after taking into account the following costs related to exercise: (i) the aggregate Option Price with respect to the exercise; (ii) the amount of all applicable taxes with respect to the exercise, assuming your maximum applicable federal, state and local tax rates for such purpose; and (iii) any transaction costs. The Global Human Resources Group will determine the number of Net Profit Shares for any particular exercise. Notwithstanding anything in this paragraph 5 to the contrary, the Three-Year Hold Requirement shall not apply if at any time the Global Human Resources Group determines, in its sole discretion, that the Three-Year Hold Requirement that the Three-Year Hold Requirement prevents you from exercising the Option or otherwise imposes an undue burden on you, your employer or Bank of America in connection with the exercise of the Option.
Sample 1Sample 2

Examples of Net Profit Shares in a sentence

  • In addition, Net Profit Shares are subject to forfeiture in connection with the termination of employment for “Cause” prior to the Restrictions Lapse Date as provided below.

  • Any attempt to sell, transfer, pledge, sign or otherwise alienate or hypothecate Net Profit Shares prior to completion of such period shall be null and void.

  • Until a Covered Individual complies with the Stock Policy, the Covered Individual is required to retain 100% of Net Profit Shares from each award on exercise, vesting, or earn-out.

  • Net Profit Shares and Royalty Payments  Option C Royalty Payments Same as Option B with the exception that royalty payments for US TV uses shall apply after the terms specified in the Agreement.

  • Research & Development Selling, general & admin.Operating Profit Other Income & Expense Pre-Tax Profit Income Taxes Net Profit Shares (diluted) Earnings per Share (diluted) Next is Gross Profit.

  • The "Net Profit Shares" from an Executive's stock option exercise or from the vesting of any other stock-settled incentive award are the number of shares exercised or vested, net after deducting the number of shares that would be required to be sold at the market price on the date of exercise of the stock option or vesting of the stock-settled incentive in order to pay the stock option exercise price, brokerage fees and any other costs of the sale, tax withholding and actual or estimated taxes.

  • ADDENDUM TO RESTRICTED STOCK AWARD AND NONQUALIFIED STOCK OPTION AGREEMENT Important Information Regarding Retention of "Net Profit Shares" The grant to you of the Option and restricted stock is subject to the restriction that you retain such number of "net profit shares" (as defined below") as is equal to XXX% of your annual salary at the time of valuation (the "Threshold Number of Shares").

  • Optionee, by executing this Agreement, has consented to the amendment of the Outstanding Option Agreements to provide for settlement, from and after the Effective Date, in Net Profit Shares on the terms and conditions described herein.

  • After the 10 times annual retainer ownership level is reached, non-management Directors must continue to hold at least 50% of future Net Profit Shares for one year.

  • If the Optionee incurs any fees in connection with the exercise of these Options, the Optionee shall satisfy the obligation from the sale of a portion of the Net Profit Shares that are issued to the Optionee pursuant to this Agreement.


More Definitions of Net Profit Shares

Net Profit Shares means the aggregate number of Shares determined by the Company's Human Resources Department representing the total number of Shares remaining after taking into account the following costs related to exercise: (i) the aggregate Option Price with respect to the exercise; (ii) the amount of all applicable taxes with respect to the exercise, assuming the Participant's maximum applicable federal, state and local tax rates (and applicable employment taxes); and (iii) any transaction costs. The Company's Human Resources Department will determine the number of Net Profit Shares for any particular exercise.
Sample 1Sample 2
Net Profit Shares. (as defined below) acquired upon exercise of the Option must be held by you until the earlier of (i) the third anniversary of the exercise date or (ii) the date of your termination of employment with Bank of America and its Subsidiaries (other than termination of employment for “Cause,” as defined in Exhibit A). Any attempt to sell, transfer, pledge, assign or otherwise alienate or hypothecate Net Profit Shares prior to completion of such period shall be null and void. For purposes hereof, “Net Profit Shares” means the aggregate number of Shares with respect to which the Option is exercised minus Shares having an aggregate Fair Market Value as of the exercise date equal to the sum of (x) the aggregate Option Price with respect to the exercise and (y) the amount of all applicable taxes with respect to the exercise, assuming your maximum applicable federal, state and local tax rates for such purpose.
Sample 1Sample 2
Net Profit Shares means the aggregate number of Shares determined by the Company’s Human Resources Department representing the total number of Shares remaining after taking into account the following costs related to exercise: (i) the aggregate Option Price with respect to the exercise; (ii) the amount of all applicable taxes with respect to the exercise, assuming the Participant’s maximum applicable federal, state and local tax rates (and applicable employment taxes); and (iii) any transaction costs. The Company’s Human Resources Department will determine the number of Net Profit Shares for any particular exercise.
Sample 1Sample 2
Net Profit Shares. (as defined below) acquired upon exercise of the Option must be held by you until the earlier of (i) the third anniversary of the exercise date or (ii) the date of your termination of employment with Bank of America and its Subsidiaries. Any attempt to sell, transfer, pledge, assign or otherwise alienate or hypothecate Net Profit Shares prior to completion of such period shall be null and void. For purposes hereof, “Net Profit Shares” means the aggregate number of Shares with respect to which the Option is exercised minus Shares having an aggregate Fair Market Value as of the exercise date equal to the sum of (x) the aggregate Option Price with respect to the exercise and (y) the amount of all applicable taxes with respect to the exercise, assuming your maximum applicable federal, state and local tax rates for such purpose.
Sample 1
Net Profit Shares means the number of whole shares of Common Stock obtained by subtracting (1) the number of whole shares of Common Stock having an aggregate Exercise Value sufficient to satisfy the Optionee’s tax withholding obligations, if any (the “Withholding Shares”), from (2) the Gross Profit Shares. For the purposes of the foregoing, “Gross Profit Shares” means the number of whole shares of Common Stock obtained by dividing (A) the product of (i) the number of Options exercised times (ii) the difference between the Option Price and the Exercise Value by (B) the Exercise Value. If the calculation results in a fractional share, the Optionee will receive cash for the fractional share (but not for any whole shares) equal to the product of the fraction times the Exercise Value. For the purpose of the foregoing calculations, the Exercise Value equals the fair market value of one share of Occidental Common Stock at the date and time of exercise (unless otherwise required by the administrator).
Sample 1

Related to Net Profit Shares

  • Unit Shares means the Common Shares comprising part of the Units;

  • Fully Diluted Company Shares means the total number of issued and outstanding shares of Company Common Stock, (a) after giving effect to the Company Preferred Stock or otherwise treating shares of Company Preferred Stock on an as-converted to Company Common Stock basis, and (b) treating all outstanding in-the-money Specified Company Warrants as fully vested and as if the Specified Company Warrants had been exercised for cash as of the Effective Time, but for the avoidance of doubt excluding any Company Securities described in Section 1.11(b).

  • Net Shares means the number of shares of Common Stock which will be deposited in a brokerage account in the Grantee’s name at the Company’s designated broker after shares have been withheld to satisfy applicable tax and withholding requirements upon vesting of the Restricted Stock Units.

  • Plan Shares means the total number of Common Shares which may be reserved for issuance as Optioned Shares under the Plan as provided in §2.2;

  • Fully-Diluted Common Stock means the outstanding Common Stock and the shares of Common Stock issued or issuable upon exercise of Warrants (assuming full exercise).

  • Fully Diluted Shares means an amount equal to the sum of (a) the total number of shares of Common Stock outstanding immediately prior to the Effective Time, plus (b) the total number of shares of Common Stock that all In-the-Money Options outstanding immediately prior to the Effective Time are exercisable into at such time and without any withholding of shares to pay the exercise price or Taxes.

  • Unit Share means a Common Share comprising part of each Unit;

  • Total Shares means (without double-counting), as of a particular date of determination, the algebraic sum of: (A) the Initial Shares, plus (B) the Additional Shares, minus (C) all Buyback Shares repurchased or redeemed between the Effective Date and such date of determination.

  • Dividend Shares means the shares of Common Stock issuable in payment of dividends payable on the Preferred Shares in accordance with the terms of the Certificate of Designation.

  • Equity Shares means the Common Shares and any shares of any other class or series of the Corporation which may from time to time be authorized for issue if by their terms such shares confer on the holders thereof the right to participate in the distribution of assets upon the voluntary or involuntary liquidation, dissolution or winding up of the Corporation beyond a fixed sum or a fixed sum plus accrued dividends;

  • Company Stock Account means the account established and maintained in the name of each Participant or Beneficiary to reflect his share of the Trust Fund invested in Company Stock.

  • Per Share Cash Amount for purposes of this Section 2(b) means an amount equal to the sum of (I) the average of the closing price of the Common Stock for the 20 trading days immediately preceding the date of the Change in Control and (II) any cash dividend payable on a share of Common Stock during the 20 trading-day period described in the foregoing. If settlement of the Performance Share Units may not be made within the period specified in this Section 2(b) due to the limitation in Section 14(t)(iii)(A) of the Plan, such settlement shall be made in accordance with Section 5 of the Agreement.

  • Company Stock means the common stock of the Company.

  • Stock Account means the account maintained on behalf of the Participant by the Custodian for the purpose of holding Stock acquired under the Plan.

  • Bonus Shares means Shares that are awarded to a Grantee without cost and without restrictions in recognition of past performance (whether determined by reference to another employee benefit plan of the Company or otherwise) or as an incentive to become an employee of the Company or a Subsidiary.

  • Net Share Amount has the meaning set forth in Section 3.03(c).

  • Common Shares means the common shares in the capital of the Company;

  • Deferred Shares means an award made pursuant to Section 7 of this Plan of the right to receive Common Shares at the end of a specified Deferral Period.

  • Deferred Stock Account means a bookkeeping account maintained by the Company for a Participant representing the Participant's interest in the shares credited to such Deferred Stock Account pursuant to Paragraph 7 hereof.

  • Coop Shares Shares issued by a Cooperative Corporation.

  • Shares means the interests of Shareholders corresponding to the redeemable securities of record issued by the Fund under the Investment Company Act of 1940 that are held by the Intermediary.

  • Bonus Stock means shares of Common Stock which are not subject to a Restriction Period or Performance Measures.

  • Relative Total Shareholder Return or “Relative TSR” means the Company’s TSR compared to the Peer Companies TSR on a relative basis. The Company and the Peer Companies from highest to lowest according to their respective TSRs will determine Relative TSR. After this ranking, the percentile performance of the Company relative to the Peer Companies will be determined using the Percentrank formula in Microsoft Excel.

  • Co-op Shares Shares issued by private non-profit housing corporations.

  • SpinCo Shares means the shares of common stock, par value $0.01 per share, of SpinCo.

  • VMTP Shares has the meaning set forth in the preamble to this Agreement.