Profit Sharing Scheme definition

Profit Sharing Scheme means a scheme or arrangement under which an employee or deemed employee in any way whatsoever shares his employer’s profit, including by way of dividend;
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Profit Sharing Scheme means a profit-sharing scheme approved by the Board of Inland Revenue under Schedule 9 of ICTA 1988;
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Profit Sharing Scheme means a profit-sharing scheme approved by the Board of Inland Revenue under Schedule 9 of the Taxes Act 1988;
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Examples of Profit Sharing Scheme in a sentence

  • The employees covered by this Agreement will participate with other employees of this Division in a Profit Sharing Scheme.

  • Effective as of the Distribution, Honeywell Employees shall cease actively participating in the Honeywell International Technologies Limited Employees Share Ownership Plan (the “Irish ESOP”) and the Honeywell Measurex (Ireland) Limited Group Employee Profit Sharing Scheme (the “Irish Profit Sharing Scheme”), and shall not be able to effectuate any additional share purchases thereunder.

  • SpinCo shall retain or assume all Liabilities under the Irish ESOP and the Irish Profit Sharing Scheme.

  • A similar plan to the Stock Savings Plan was also adopted for all permanent U.K. employees, entitled CNR International (U.K.) Limited Profit Sharing Scheme (the "Scheme").

  • Reference to the Profit Sharing Scheme Deeds of Trust and Supplementary Deeds will indicate the situation with regard to payments under the Scheme.

  • These limits exclude awards under a 1999 share option scheme (which no longer operates) and the TSB Approved Profit Sharing Scheme.

  • The profit share to be distributed to employees each year is based on a specific formula outlined in the Profit Sharing Scheme Rules, and employees have the option to receive their profit share allocation in cash (up to a maximum of 75% of the total entitlement) and receive the balance in ordinary shares of the Bank.

  • The Bord na Xxxx Employee Share Ownership Plan (ESOP) continues to hold 5% of the total ordinary shares in Bord na Xxxx plc on behalf of 1,936 eligible participants (serving and retired employees) in the Bord na Xxxx Employee Share Ownership Trust or the Bord na Xxxx Approved Profit Sharing Scheme (APSS).

  • The Company has one category of dilutive potential ordinary shares in its IPO, subscribers in the intermediaries, employee and Approved Profit Sharing Scheme (APSS) participant off every 20 shares subscribed for by them.

  • The ESOT is also trustee of the Aer Lingus Approved Profit Sharing Scheme and, at 31 December 2006 held 9,564,570 shares (1.8%) in the company on behalf of beneficiaries.


More Definitions of Profit Sharing Scheme

Profit Sharing Scheme a profit-sharing scheme approved by the Board of Inland Revenue under Schedule 9 of ICTA 1988.
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Profit Sharing Scheme means a scheme under which an employee in his capacity as such shares in whatever manner the profit of his employer;
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Profit Sharing Scheme means a scheme under which an employee qua employee in any way shares his employer's profit;
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Related to Profit Sharing Scheme

  • Profit Sharing Plan means a profit-sharing plan that is qualified pursuant to 26 U.S.C. § 401 of the Internal Revenue Code and subject to the Employee Retirement Income Security Act, and which provides for employer contributions in the form of cash, but not in the form of stock or other equity interests in a Medical Marijuana Business.

  • Profit Sharing Account means any one of the accounts so designated and provided for in Section 6.01.

  • Planning Scheme means a scheme developed in accordance with section 6 of the Planning and Environment Act 1987.

  • Savings Plan or "plans" means a plan that provides different investment strategies and allows account distributions for qualified higher education expenses.

  • Job Sharing means the sharing by two or more persons of a position.

  • Nonqualified deferred compensation plan means a compensation plan described in Section 3121(v)(2)(C) of the Internal Revenue Code.

  • Medical savings account means an account exempt from federal income taxation pursuant to Section 220 of the United States Internal Revenue Code (26 U.S.C. § 220).

  • Thrift Plan means the Financial Institutions Thrift Plan, a qualified and tax-exempt defined contribution plan and trust under Sections 401(a) and 501(a) of the Code, as adopted by the Bank.

  • Retirement Savings Plan means the Air Products and Chemicals, Inc. Retirement Savings Plan, as amended from time to time, together with any similar, succeeding or substitute plan.

  • Matching Contribution means an Employer contribution made to this or any other defined contribution plan on behalf of a Participant on account of a Participant's Deferral Contribution.

  • Nonqualified Deferred Compensation Rules means the limitations or requirements of Section 409A of the Code, as amended from time to time, including the guidance and regulations promulgated thereunder and successor provisions, guidance and regulations thereto.

  • Multiple employer welfare arrangement means a multiple employer welfare arrangement

  • Deferred Compensation Plan means any plan, agreement or arrangement maintained by the Company from time to time that provides opportunities for deferral of compensation.

  • Plan means any employee pension benefit plan (other than a Multiemployer Plan) subject to the provisions of Title IV of ERISA or Section 412 of the Code or Section 302 of ERISA, and in respect of which the Borrower or any ERISA Affiliate is (or, if such plan were terminated, would under Section 4069 of ERISA be deemed to be) an “employer” as defined in Section 3(5) of ERISA.

  • town planning scheme means the City of Rockingham Town Planning Scheme made under the Town Planning and Development Act 1928.

  • Plan 3 means the teachers' retirement system, plan 3

  • pension means a pension or annual allowance paid under the Public Service Superannuation Act (PSSA), R.S., 1985, c. P-36, and any increases paid pursuant to the Supplementary Retirement Benefits Act, R.S., 1985, c. S-24 as it affects the PSSA. It does not include pensions payable pursuant to the Canadian Forces Superannuation Act, R.S., 1985, c. C-17, the Defence Services Pension Continuation Act, 1970, c. D-3, the Royal Canadian Mounted Police Pension Continuation Act , 1970, c. R-10, and the Royal Canadian Mounted Police Superannuation Act, R.S., 1985, c. R-11, the Members of Parliament Retiring Allowances Act, R.S. 1985, c. M-5, and that portion of pension payable to the Canada Pension Plan Act, R.S., 1985, c. C-8.

  • Nonelective Contribution means an amount contributed by a participating

  • HACCP plan means a written document that delineates the formal procedures for following the hazard analysis and critical control point principles developed by the National Advisory Committee on Microbiological Criteria for Foods.

  • Company 401(k) Plan shall have the meaning set forth in Section 6.09(e).

  • Retirement Plan means a plan which provides retirement benefits to you and which is not funded wholly by your contributions. The term shall not include a profit-sharing plan, informal salary continuation plan, registered retirement savings plan, stock ownership plan, 401(K) or a non-qualified plan of deferred compensation.

  • Employer Contribution means the amount paid by an employer, as determined by the employer rate, including the normal and deficiency rates, contributions, and funds wherever used in this chapter.

  • Flexi Plan means any individual indemnity hospital insurance plan under the VHIS framework with enhancement(s) to any or all of the protections or terms and benefits that the Standard Plan provides to the Policy Holder and the Insured Person, subject to certification by the Government. Such plan shall not contain terms and benefits which are less favourable than those in the Standard Plan, save for the exception as may be approved by the Government from time to time.

  • 401(k) Plan shall have the meaning set forth in Section 6.3(a).

  • Incentive Compensation Plan means any plan, agreement or other arrangement that provides for the grant or issuance of equity or equity-based awards and that is now in effect or is hereafter adopted by the Company or the Manager for the benefit of any of their respective employees or other service providers (including directors, advisers and consultants), or the employees or other services providers (including directors, advisers and consultants) of any of their respective Affiliates or Subsidiaries.

  • Cafeteria plan means a written plan under which all participants are employees, and the participants may choose among two or more benefits consisting of cash and qualified benefits.