Profit Sharing Pool definition

Profit Sharing Pool means, with respect to each Fiscal Year, the “Annual Award Pool” for such Fiscal Year determined under the Company’s broad-based profit sharing plan (the “PSP”) as in effect on the 90th day of the Profit Based RSU Performance Period that includes such Fiscal Year, calculated assuming that all workgroups (other than officers and management level employees at Grade 46 and above) are participating; provided, however, that any Minor Pool (as defined in the PSP) with respect to a Fiscal Year that ended prior to the beginning of any Profit Based RSU Performance Period shall not be included in the Profit Sharing Pool with respect to a Fiscal Year in such Performance Period.

Profit Sharing Pool means the percentage of pre-tax profit that is determined by the Board to be available for distribution to the Corporation's participating employees under any profit-sharing plan that may be established and continued by the Corporation from time to time.

Profit Sharing Pool means the Profit Sharing Pool determined for each Plan Year in accordance with Section 3.

Examples of Profit Sharing Pool in a sentence

• There shall be a standing committee of directors of this Association to be known as the Compensation Committee who shall review the compensation of all Executive Officers and those officers who participate in the Profit Sharing Pool as well as fees for directors of the Association.

• Award amounts will be based on a Profit Sharing Pool that shall be comprised of (i) five percent (5%) of the Profit Before Bonus and Taxes of the Company for the previous fiscal year and (ii) thirty percent (30%) of the increase in Profit Before Bonus and Taxes of the Company for the current fiscal year from the previous fiscal year, as reported on the financial statements of the Company.

• The Profit Sharing Pool and the Delayed Bonus Payment shall be divided into two award levels, with thirty-five percent (35%) of the Profit Sharing Pool and the Delayed Bonus Payment set aside for award to Key Executives (the "Key Executive Award") and sixty-five percent (65%) of the Profit Sharing Pool and the Delayed Bonus Payment set aside for Key Employees (the "Key Employee Award").

• The portion of the Allocable Profit Sharing Pool allocated to a Participant for any Plan Year as granted under the Plan.

• Each Award Notice with respect to a Profit Based RSU Award shall specify (a) the Performance Period to which the Award relates, (b) the applicable Cumulative Profit Sharing Pool Target Levels and Cash Hurdle, (c) the number of RSUs subject to the Award as of the date of grant of the Award, and (d) the Payout Structure and the Maximum Aggregate Payment Amount, if any, applicable to the Award.

• An Award-Eligible Participant shall be eligible for an Award equal to the amount determined by multiplying the Allocable Profit Sharing Pool by a fraction the numerator of which is an Award-Eligible Participant’s Eligible Earnings for the Plan Year and the denominator of which is the total Eligible Earnings of all Award-Eligible Participants for the Plan Year.

• The Board of Directors may supplement the Executive's annual salary with a bonus amount to be determined by the Board in its sole and absolute discretion, payable from the Corporation's General Profit Sharing Pool within three months of the end of each fiscal year end of the Corporation, but which bonus may not be given at all in any year.

• Awards for a specific Plan Year shall be based on that Plan Year’s Eligible Earnings of a Participant, Budgeted Global EBITDA, Actual Global EBITDA and the Profit Sharing Pool.

• The total allocable amount of the Profit Sharing Pool for a Plan Year determined pursuant to section 5.03 of the Plan.

• SECTION 2 COMPENSATION COMMITTEE There shall be a standing committee of directors of this Association to be known as the Compensation Committee who shall review the compensation of all Executive Officers and those officers who participate in the Profit Sharing Pool as well as fees for directors of the Association.

More Definitions of Profit Sharing Pool

Profit Sharing Pool means, with respect to each Fiscal Year, the "Annual Award Pool" for such Fiscal Year determined under (and based on the definition of such term set forth in) the Company's Enhanced Profit Sharing Plan as in effect on February 23, 2007, taking into account amendments effected on that date (the "EPSP"); provided, however, that (A) any Minor Pool (as defined in the EPSP) with respect to a Fiscal Year that ended prior to the beginning of any Profit Based RSU Performance Period shall not be included in the Profit Sharing Pool with respect to a Fiscal Year in such Performance Period and (B) for the Fiscal Year beginning on April 1, 2006, the Profit Sharing Pool for such Fiscal Year shall be the same as the Annual Award Pool under the EPSP for the 12-month period ending on December 31, 2006 (disregarding any Minor Pool to the extent provided in clause (A) of this paragraph), except that such Annual Award Pool shall be determined under the EPSP based on Pre-tax Net Income for such Fiscal Year determined under the Program reduced by an additional $1 million (in lieu of "Pre-tax Net Income" (as defined under the EPSP) for the 12-month period ending on December 31, 2006).

Profit Sharing Pool means forty percent (40%) of the Company’s annual Net Profit.

Profit Sharing Pool means, with respect to each Fiscal Year, the sum of: (i) the dollar amount of Pre-tax Net Income, if any, earned with respect to such Fiscal Year up to and including $250 million multiplied by 30%; plus (ii) the dollar amount of Pre-tax Net Income, if any, earned with respect to such Fiscal Year in excess of $250 million and up to and including $500 million multiplied by 25%; plus (iii) the dollar amount of Pre-tax Net Income, if any, earned with respect to such Fiscal Year in excess of $500 million multiplied by 20%.

Profit Sharing Pool means for a Plan Year the dollar amount which the Company determines is available for Non-Elective Profit Sharing Contributions and, at the option of Participants, Elective Profit Sharing Contributions or cash compensation.