Profit Sharing Sample Clauses

Profit Sharing. 10.1 Oasmia and Hetero shall share the profit from any Sales of Product in the Territory. The Profit Sharing shall be calculated in accordance with Appendix I. 10.2 Hetero shall present monthly sales statistics for all Sales in the Territory. The figures shall include: total Gross Sales in units sold and total amount in RUB or each country in the Territory. 10.3 Hetero shall keep and maintain complete and accurate records of the sales and all necessary and supporting data for calculation of the Profit to be shared by the Parties. Such records shall be retained during the Term and for a period of three (3) years thereafter. 10.4 To verify the accuracy of accounting for the Product sale in the preceding year, as reflected in the accounting Hetero’s documents, Oasmia shall have the right to once a year nominate a firm of independent certified public accountants; as mutually agreed by Oasmia and Hetero; to inspect respect of the Product Sales and take copies of such records during reasonable business hours, for the purpose of verifying, the Sales of the Product and any applicable Affiliates, provided that such accounting firm shall be first made subject to confidentiality obligations not more burdensome than those to which the Parties are subject to under this Agreement. In any case, Oasmia shall send a copy of the auditor's report to Hetero before a complaint (with reason), in case this is the results of the audit. 10.5 Hetero or its Affiliate is required to reimburse Oasmia for an underpayment (in any amount) it shall do so (together with interest payable pursuant to clause 15) within thirty (30) days of its receipt of notice from Oasmia of the result of the accountant’s audit. In the event that the accountants’ audit finds that an underpayment of [***] or more has been made by Hetero or its Affiliate, Hetero shall reimburse Oasmia the cost of the audit (within thirty (30) days of its receipt of notice of the results of the audit). 10.6 If Hetero does not agree with the results of the audit, Hetero shall send its written objection to Oasmia. The Parties shall, within ten (10) days from Oasmia’s receipt of Heteros written objection, discuss the audit results and negotiate in good faith to solve the issue in a reasonable manner. If the Parties cannot agree, the Parties shall nominate an independent auditing organization by mutual decision. 10.7 If Hetero or its Affiliate sells Product in a currency other than RUB, then for purposes of calculating the payable P...

Profit Sharing. Profit sharing, bonuses, or other similar compensation of any kind paid by CM/GC to its employees.

Profit Sharing. The Executive shall not be entitled to participate in any profit sharing program of Employer, unless otherwise determined by Ultrak's CEO and/or Board of Directors, from time to time.

Profit Sharing. The Executive shall be eligible to participate in the RBSG’s Profit Sharing Scheme, the terms and conditions of which will be made available to the Executive. Any entitlement is calculated by reference to the Executive’s Salary Element.

Profit Sharing. The Department will share in profits realized by Contractor in each fiscal year as specified in Appendix L.

Profit Sharing. 10.1 The Publisher shall pay the Developer the following share of profits as follows: 10.1.1 The Publisher shall retain one hundred percent (100%) of all cash received from any sources until the Publisher has recovered all of Publisher’s reasonable out of pocket costs, including payments made to Developer related to the Product, plus $300,000. Publisher will provide Developer with a detailed accounting of all out of pocket expenses charged to the project. 10.1.2 Once the Publisher has recovered the costs in 10.1.1, the Publisher shall retain sixty five percent (65%) of any remaining monies and pay to Developer thirty five percent (35%). 10.2 Within forty-five (45) days of the Quarter End following the date on which the Publisher first commercially releases a Version of the Product and of every subsequent Quarter End the Publisher shall provide the Developer with a written Profit Statement specifying in sufficient detail (i) amounts spent in satisfaction of the Marketing Guarantee (as defined below) in respect of that quarter; and (ii) the calculations of Cash Receipts and Expenses, and the Profit (if any) due to the Developer in respect of that quarter. Each Profit Statement shall be accompanied by a wire transfer for any monies due, save that if the Publisher is prevented by the law of any country from making payments outside that country it shall be entities to pay the relevant sums to the Developer in that country. All sums payable to Developer pursuant to this Agreement (including the Development Advances and Profits) shall be made in U.S. Dollars. At each Quarter End the Publisher may retain from Profits payable a reserve against returns or other credits in respect of Units sold by the Publisher hereunder in the manner set out in paragraph 10.2.1. 10.2.1 The Publisher will withhold a general reserve against rebates, deductions, price protection, discounts, allowances or refunds for returned, defective or discounted units, exchanges, credits and the like (the “General Reserve”) either: 10.2.1.1 where Publisher is responsible for the above described items, a reserve not to exceed Twenty percent (20%) of Gross Wholesale Sales (“Gross Wholesale Sales” is defined as gross amounts received by Publisher from the sale, distribution or ancillary exploitation attributable to the Product), or 10.2.1.2 where publisher is not responsible for the above described items, in a pro rata amount of any such reserve withheld by Publisher’s Co-Publishers or sub-licensees o...

Profit Sharing. Subject to the terms of this Agreement, ETON shall pay to LMW thirty-five (35%) of the Net Profit, payable on a quarterly calendar basis; provided however, that if during any Calendar Quarter the Net Profits are negative (less than zero) then a negative balance will accrue and will be offset by future milestone or profit share payments owed to LMW. Profit sharing payments, accompanied by a statement reasonably setting forth the basis for the calculation, shall be tendered by ETON to LMW within forty-five (45) days following the end of the Calendar Quarter. Deductions under Net Profits, if any, shall be summarized in reasonable detail with corresponding supporting documentation.

Profit Sharing. Executive shall be eligible to participate in such -------------- executive bonus programs as Employer may establish from time to time. Under the "Senior Management Bonus Plan" currently in effect, Executive's maximum target annual bonus shall be thirty-five percent (35%) of his base salary for the applicable fiscal year payable pursuant to Section 3.1.

Profit Sharing. The provisions on profit-sharing shall be in accordance with the agreement to be concluded between the Company and the Union.