Net Profits Bonus Sample Clauses
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Net Profits Bonus. During the Term, the Employee shall receive a bonus based on the “Company’s Net Profits,” defined as the Company’s net income, after taxes, as determined in accordance with Generally Accepted Accounting Principles (GAAP), (the “Net Profits Bonus”), as described below.
Net Profits Bonus. During the Term, Future shall receive a bonus based on the “Company’s Net Profits,” defined as the Company’s net income, after taxes, as determined in accordance with Generally Accepted Accounting Principles (GAAP), (the “Net Profits Bonus”), as described below.
Net Profits Bonus. As further consideration for the Credit Facility, Lender shall receive additional compensation equal to 3% of Borrower’s annual Net Profits from its 49% interest (“Borrower’s RA Mine Interest”) in the Red Arrow Mine (such Borrower’s RA Mine Interest, for the purposes hereof, to increase upon any subsequent acquisition by Borrower of all or any portion of Red Arrow’s remaining interest in the Red Arrow Mine), due and payable to Lender within 30 days of the end of each fiscal year of Borrower. The foregoing Net Profits obligation shall be perpetual and therefore shall survive repayment of the Obligations (other than with respect to future Net Profits Bonus payments) and termination of the Credit Facility.