Profit Sharing Payment Sample Clauses

Profit Sharing Payment. For each calendar month, a Profit Sharing Payment (“PSP”) is paid by ETP to MPC for volumes blended at the Bay City terminal. The PSP is calculated as the volume of gallons blended (“GB”) at Bay City in such month multiplied by fifty percent multiplied by the following value: (A) the volume weighted daily average of the high and low assessments of Argus posted Chicago Cycle 1 gasoline price (85 CBOB) minus (B) the volume weighted daily average of the high and low assessments of the OPIS posted Mt. Belvieu TET normal butane price minus (C) the average supply cost. Fee calculations pursuant to this Schedule 5.1 for butane blending services completed prior to July 1, 2019 shall not be affected by changes in the foregoing formulas.
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Profit Sharing Payment. The Company shall pay to the Trust an amount equal to 20% of the sum of Profits (or zero if Profits is a negative number) and Government Proceeds within 30 days following the last day of the month during which the Closing Date occurs, for the period beginning on the first day of the Fiscal Year in which the Closing Date occurs and ending on the day prior to the Closing Date. Such amount shall be determined in good faith by management of the Company based on the financial results of the Company and reasonable assumptions and estimates, in each case determined in a manner consistent with past practice for the determination of Profits for the Company's Fiscal Years under the Supplemental Agreement. When the Company makes the payment of Profits pursuant to this Section 3.02, it shall deliver to the Trust a certificate signed by the chief executive officer, the chief financial officer or the controller of the Company setting forth in reasonable detail the computation of such Profits and explaining any material assumptions or estimates used in such computation. If the Closing Date occurs on a day other than the first day of a month, Profits for the period from the first day of such month to the day prior to the Closing Date (the "Profit Period") shall be the product of (A) Profits for such month multiplied by (B) the quotient of (i) the number of days in the Profit Period divided by (ii) the number of days in such month. Notwithstanding anything to the contrary contained in this Agreement or in the Second Amended and Restated Supplemental Agreement, the Company shall remain obligated to make the payment required by Section 2.03(a) of the Supplemental Agreement with respect to any Fiscal Year of the Company which ends prior to the Fiscal Year in which the Closing Date occurs and for which such payment has not been made as of the date of this Agreement. The parties agree that Profits shall be determined by not giving effect to any Disposition or the transactions contemplated by this Agreement, including, without limitation, any payment of Profits pursuant to this Section 3.02, the issuance of the Conversion Shares pursuant to Section 3.01, the Dividend or any accounting or tax effects relating to any of the foregoing.
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Profit Sharing Payment. All full-time regular Associates of RSDC who are actively employed on March 31st (October 1–March 31 coverage period) and September 30th (April 1–September 30 coverage period) will be eligible to participate in the Plan for the applicable coverage period. Associates eligible for participation for a partial Plan period (except those who voluntarily terminate employment prior to March 31 or September 30, or who were terminated for any reason other than lack of work at any time prior to the payment date) will be paid a prorated share of the profit share payment. This prorated share will be calculated using each Associate's base wage (not including earnings during evaluation, holiday, vacation or other nonworking earnings) overtime (from base rate only) and group leader premium for each coverage period under the Plan. An Associate shall not participate in the Plan during the evaluation period. Profit sharing payments for each year will be made by separate payment as early as possible after the financial results for March and September are known. Compensation payable under the Plan will be computed from the following calculations: (RSDC Net Income) x (7% Allocated Profit Share) = Profit Share Pool Profit Share Pool/Total Payroll Amount* = Percent Payout *Total payroll amount includes base wage (not including earnings during evaluation, holiday, vacation or other nonworking earnings), overtime (from base rate only) and group leader premium The Profit Sharing payment will be calculated by applying the applicable payout percentage for the period to the total as described above (not including earnings during evaluation, holiday, vacation or other nonworking earnings) overtime (from base rate only) and group leader premium paid to each participant during the period. Disbursements shall be paid semi-annually in June and November each year.
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Profit Sharing Payment. All ROW Royalty Payments shall be accompanied by a report setting forth the Net Sales of the Product and their calculations during the applicable fiscal quarter of Neutron ROW forming the basis of such ROW Royalty Payment.
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Profit Sharing Payment. In addition to the pay increases, agreement has been reached for profit sharing over the life of this agreement. For each financial year up to and including 2024/2025, a one-off payment will be made to employees, payable on Royal Mail Group Ltd returning an operating profit in any financial year in that period. The first 20% of operating profit will be distributed as a one- off payment to employees, paid after publication of the company’s audited accounts. Any payment is a non-consolidated, non-contractual bonus subject to tax and national insurance. To receive the one-off payment employees must be in Royal Mail employment on the date the applicable payment is paid.
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Profit Sharing Payment 
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Related to Profit Sharing Payment

  • Profit Sharing Plan Under the Northrim BanCorp, Inc. Profit Sharing Plan (the “Plan”), Executive shall be eligible to receive an annual profit share based on performance as defined by the Board of Directors. Executive will be classified in the Executive tier under the Plan’s Responsibility Factors. If Employer is required to prepare an accounting restatement due to “material noncompliance of the Employer,” the Employer will recover from the Executive any incentive compensation during the three (3) years prior to the date of the restatement, in excess of what would have been paid under the restatement. Executive’s signature on this Agreement authorizes Employer to offset or deduct from any compensation Employer may owe Executive, any excess payments (in whole or in part) that Executive may owe Employer due to such restatement(s).

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

  • Retirement Contribution The State shall, as permitted by 5 M.R.S.A. §17702 §§s5 and 6, pay the cost of the 6.5% or 7.5% retirement contribution for employees in the following classifications. Corrections Firearms Instructor Oil & Hazardous Material Responder I Oil & Hazardous Material Responder II

  • Retirement Contributions On behalf of employees, the State will continue to “pick up” the six percent (6%) employee contribution, payable pursuant to law. The parties acknowledge that various challenges have been filed that contest the lawfulness, including the constitutionality, of various aspects of PERS reform legislation enacted by the 2003 Legislative Assembly, including Chapters 67 (HB 2003) and 68 (HB 2004) of Oregon Laws 2003 (“PERS Litigation”). Nothing in this Agreement shall constitute a waiver of any party’s rights, claims or defenses with respect to the PERS Litigation.

  • Employer Contribution (a) An Employer contribution for health and dental benefits will only be made for each active employee who has at least eighty (80) paid regular hours in a month and who is eligible for medical insurance coverage, unless otherwise required by law.

  • DEDUCTIONS FROM SALARY A. The Board agrees to deduct from teachers’ salaries membership dues and assessments for the Xxxxxx County Education Association, the Maryland State Teachers’ Association, and the National Education Association as said teachers individually and voluntarily authorize to deduct through an appropriate written authorization form prepared by the Association. The Board agrees to transmit such monies promptly to the Association.

  • Cash and Incentive Compensation For clarification, it is understood by all parties that other than as specified herein, the Company is not obligated to award any future grants of stock options or other form of equity compensation to Executive during Executive's employment with the Company.

  • Termination Compensation Termination Compensation equal to two (2) times the Executive's Base Period Income shall be paid to the Executive in a single sum payment in cash on the thirtieth (30th) business day after the later of (a) the Control Change Date and (b) the date of the Executive's employment termination; provided that if at the time of the Executive's termination of employment the Executive is a Specified Employee, then payment of the Termination Compensation to the Executive shall be made on the first day of the seventh (7th) month following the Executive's employment termination.

  • Retirement Benefit Should the Director still be in the Directorship ------------------ of the Association upon attainment of his 70th birthday, the Association will commence to pay him $590 per month for a continuous period of 120 months. In the event that the Director should die after becoming entitled to receive said monthly installments but before any or all of said installments have been paid, the Association will pay or will continue to pay said installments to such beneficiary or beneficiaries as the Director has directed by filing with the Association a notice in writing. In the event of the death of the last named beneficiary before all the unpaid payments have been made, the balance of any amount which remains unpaid at said death shall be commuted on the basis of 6 percent per annum compound interest and shall be paid in a single sum to the executor or administrator of the estate of the last named beneficiary to die. In the absence of any such beneficiary designation, any amount remaining unpaid at the Director's death shall be commuted on the basis of 6 percent per annum compound interest and shall be paid in a single sum to the executor or administrator of the Director's estate.

  • Public Benefit It is Xxxxxxx’x understanding that the commitments it has agreed to herein, and actions to be taken by Xxxxxxx under this Settlement Agreement, would confer a significant benefit to the general public, as set forth in Code of Civil Procedure § 1021.5 and Cal. Admin. Code tit. 11, § 3201. As such, it is the intent of Xxxxxxx that to the extent any other private party initiates an action alleging a violation of Proposition 65 with respect to Xxxxxxx failure to provide a warning concerning exposure to DEHP prior to use of the Products it has manufactured, distributed, sold, or offered for sale in California, or will manufacture, distribute, sell, or offer for sale in California, such private party action would not confer a significant benefit on the general public as to those Products addressed in this Settlement Agreement, provided that Xxxxxxx is in material compliance with this Settlement Agreement.

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