Profit Sharing Program. 1. The Profit Sharing Plan shall become effective on January 1, 2006. The Union will advise the Company whether in lieu of a cash distribution, Flight Attendants profit sharing distribution should be made as an additional Direct Company Contribution to the Flight Attendants’ 401(k) Plan accounts.
Profit Sharing Program. All employees covered by this Agreement will participate in a pre-tax profit sharing program pursuant to the terms of Exhibit C to Letter of Agreement 05-03M.
Profit Sharing Program. In addition to the foregoing base salary and bonuses, the Executive shall be entitled to 25% of 10% of the profits before taxes.
Profit Sharing Program. The parties hereto acknowledge and agree that the Board intends to implement a profit sharing program whereby up to * of the cash equivalent of the Distributable Value (as determined by the Board in good faith) of each Distribution made in accordance with this Agreement may be distributed to certain officers, employees or contractors of the Company and its Affiliates, as and when determined by the Board in good faith. Any amount distributed to employees or contractors of the Company or its Affiliates pursuant to this Section 4.8 shall be referred to herein as a “Profit Sharing Distribution Amount.” Except for calculation of Distributable Value, the Profit Sharing Distribution Amount shall not be taken into account when making calculations with respect to Distributions made pursuant to Section 4.5, including calculations of the Distributable Value, Projected Distributable Value, Projected Investment Value and Unrecovered Investment Balance.
Profit Sharing Program. We want you to have a voice and a sense of commitment to the overall success of other advisors. The company allows any full time, full Broker Advisor* who has had at least 12 transactions in the calendar year to participate in the program. 10% of the company’s year-end net profit will be divided out amongst the participants based on their total GCI and total GCI of the members in the program. To be eligible you must be with the firm on Jan 1s t of the following year.
Profit Sharing Program. 24.01 The Company will as of December 31, 2000 replace the current profit sharing plan with the Alcoa Performance Pay Plan as described in the letter of agreement. The Company agrees that Employees will receive pay out of any moniew owning under the old plan. (Provide explanation/sample of Performance pay plan in agreement)
Profit Sharing Program a. All pilots will participate in a pre-tax profit sharing program with respect to calendar years beginning in 2005.
Profit Sharing Program. All employees covered by this Agreement will participate in a pre-tax profit sharing program with respect to calendar years beginning in 2005. a. Pre-tax Profit is consolidated UAL pre-tax earnings as calculated under U.S. generally accepted accounting principles and reported in regulatory filings but excluding (i) unusual, special or extraordinary charges or (ii) charges with respect to grant or exercise of employee equity or options or (iii) charges with respect to payments under this profit sharing program. b. The Annual Profit Sharing Pool is 15% of the excess of (i) annual Pretax Profit over (ii) the Annual Plan Threshold, but in no event more than the Pool Cap. c. The Annual Plan Threshold is the product of (i) net UAL revenues and (ii) the following percentages (which represent net pretax profit margins): 2005 8% 2006 10% 2007 10% 2008 10% 2009 10% d. The Pool Cap is 8% of Wages of all participating employees. e. The Union's share (IAM 141M) of the Annual Profit Sharing Pool is % of the Pool. f. The Union will determine the manner in which its represented employees share of the Annual Profit Sharing Pool is distributed. g. Profit Sharing payments will be made on May 1st of the year following each program year. h. Profit Sharing payments will be paid to the employee, subject to applicable 401(k) deferral election, withholding and taxes. IAM 141M Equity See Attachment D. Corporate Governance The Restructuring Agreement will provide for one designee from the IAMAW (District 141 and 141M combined) as a member of the Board of Directors. Review Committee A standing review committee, consisting of two (2) District 141M representatives and two (2) Company representatives (plus additional representatives if deemed appropriate by the District and the Company) shall be maintained by the parties for the purpose of evaluating the possibility of bringing maintenance work in house and reviewing whether the Company has the necessary facilities and equipment to perform such work. The committee shall meet on a continuing basis, but no less than quarterly, and the Company shall provide to the Committee all necessary information for the Committee to perform this function. Further Events The parties agree in concept to negotiate under the following principles with respect to any further revisions to the IAM 141M Agreements in connection with hostilities in Iraq: (i) any such revisions will take the form of temporary wage rate reductions for all employee and management g...
Profit Sharing Program. The Profit Sharing Program shall provide Participants with payments, within 45 days of the end of each year, from a pool of 10% of annual Profits above levels to be determined. 1998 $[*] million Payments shall be distributed to all participants based on regular straight-time hours paid (including all paid leaves such as holidays, vacations, paid sick-leave, S&A, and workers’ comp, etc.) with each Participant’s payment reduced by [*] of any amount received through the Gain Sharing Program. Any amounts thus reduced will be removed from the profit sharing pool. For the purposes of the Profit Sharing Program, Profit shall be defined as earnings (inclusive of Gain Sharing Payments) before interest, taxes, depreciation, amortization and all other non-cash charges including special charges, extraordinary expenses and other one-time charges. APPENDIX H 401-k Plan Employees covered by the collective bargaining agreement are eligible to receive an employer match of [*] of their tax-deferred contributions up to [*] of eligible compensation as defined by the terms of the Plan. Matching contributions will be made each payroll period. All employees represented by the UAW shall be permitted to participate in CD/CMC’s 401(k) plan under the same terms and conditions as the non-represented employees. Employees hired after April 1, 2012 will be able to contribute to the 401(k) and receive the above referenced employer match as they will not be participants in the pension plan. All other employees will not be allowed to participate until the pension plan is frozen on December 31, 2012. The Companies agree to assume payment of the Plan Annual Base, Plan Annual Audit, Participant Base and Participant Web Fees for the 401(k) Plan. Employees are to assume payment of occasional fees (Check Fee, 1099 Fee, Loan origination Fee, Loan Annual Maintenance and Distribution Fee). The Union will have input in any future changes in administration of the plan. All of the above will be in effect so long as the 401(k) plan is in effect. APPENDIX I
Profit Sharing Program. In further recognition of the immediate value of the Participating Pilots’ Investments to the Company and Republic as set forth above, the Company shall enter into a Frontier Airlines Pilots Profit Sharing Plan (the “Plan”) that includes:
