Annual Net Profits definition

Annual Net Profits means all of the profits of the Corporation in a Fiscal Year available for payment of dividends as determined in accordance with generally accepted accounting principles after payment of the Management Fee, finance costs, and other expenses, and after taking such reserves as the Manager may determine to be necessary or advisable;
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Annual Net Profits which shall mean the net income of the Company for any fiscal year as reflected on the audited financial statements of the Company for such fiscal year prepared in accordance with generally accepted accounting principles. The bonus for a particular fiscal year shall be payable to you on September 1 following such fiscal year ended June 30, but only if you are employed by the Company on June 30 of such fiscal year; provided, however, that if your employment shall be terminated by the Company without Cause (as defined below) other than as a result of your death or disability, prior to the end of a fiscal year, the pro rated portion of the bonus for such year (based upon the number of months of the fiscal year which elapsed before the termination date) shall be paid to you on September 1 following such fiscal year. AUTOMOBILE ALLOWANCE: $700 per month. COMPANY EXPENSE: You will be provided with a computer laptop and a cellular telephone at the Company's expense, so long as you are employed with the Company, in order for you to perform the services hereunder. BENEFITS: Participant in the Company's 401(k) plan. Health insurance, including family coverage (with a deductible not to exceed $1,000 per plan year). Term life insurance equal to two (2) times base salary, subject to your being in good health and not rated an insurance risk based upon any past medical history at the time the insurance is obtained. Long-term disability coverage equal to 60% of salary, up to a maximum of $15,000 a month. Coverage under other policies available to officers of the Company generally.
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Annual Net Profits means, for a given year, the aggregate worldwide revenues of the U.S. Company and its subsidiaries, on a consolidated basis, calculated pre-tax, less expenses incurred or accrued in such year.
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Examples of Annual Net Profits in a sentence

  • The Employee will be eligible to earn Profit Incentives which are defined as five percent (5%) of Annual Net Profits of Dxxxxxxx Farms & Produce, Inc.

  • The Ordinary General Assembly may, based on a recommendation by the Board of Directors, set aside a certain percentage of the Annual Net Profits to form a Conventional Reserve allocated to support the Company’s Financial Position.

  • Laid off employees shall be recalled in reverse order of layoff to any position for which they are qualified.

  • The Minimum Remuneration is subject to the limit of 5% of the Annual Net Profits of the Company and subject to the overall limit of 10% of the Annual Net Profits of the Company on the remuneration of Managing Director / Whole-Time Director / Manager of the Company taken together as per Section 197 of the Companies Act, 2013 and Rules made thereunder (including any subsequent amendment(s) and/or modification(s) in the Rules, Act and/or applicable laws in this regard)).

  • The Consideration in the amount of RMB567 million was determined with reference to 75% of the Guaranteed Annual Net Profits for the financial year ending 31 December 2017 multiplied by the P/E ratio of 9 times.

  • The calculation of this minimum funding shall compare total state and local formula and categorical funds, actual discretionary local revenue, and federal stabilization funds for 2009-10 with total state and local formula and categorical funds, maximum potential discretionary local revenue, and federal stabilization funds for 2010-11.

  • The review of institutional performance is an important part of the strategic planning cycle (Figure III-2.1-1, page 14).

  • For purposes hereof, the term "Annual Net Profits" shall mean, for a given year, the aggregate worldwide revenues of the U.S. Company and its subsidiaries, on a consolidated basis, calculated pre-tax, less expenses incurred or accrued in such year.

  • Very truly yours, /s/ HUGHES & LUCE, L.L.P. ------------------------- Hughes & Luce, L.L.P.

  • During the Employment Term, the Executive shall receive a guaranteed annual bonus of 4% of the Annual Net Profits of the Companies, from all sources, before Depreciation, Amortization and Taxes, in excess of $10,000,000, to be paid within thirty (30) days of receipt of the audited financial statements.


More Definitions of Annual Net Profits

Annual Net Profits means the net income of the Company for any fiscal year as reflected on the audited financial statements of the Company for such fiscal year prepared in accordance with generally accepted accounting principles. The Bonus for a fiscal year shall be payable to Employee promptly following the completion of the audit for that fiscal year but only if Employee was employed by the Company on the last day of such fiscal year.
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Related to Annual Net Profits

  • Net Profits and “Net Losses” for any Fiscal Year or other period shall mean, respectively, an amount equal to the Company’s taxable income or loss for such Fiscal Year or other period as determined for federal income tax purposes by the Managing Member, determined in accordance with Section 703(a) of the Code (for this purpose, all items of income, gain, loss or deduction required to be stated separately pursuant to Section 703(a) of the Code shall be included in taxable income or loss), adjusted as follows:

  • Annual Net Sales means, with respect to any Calendar Year, the aggregate amount of the Net Sales for such Calendar Year.

  • Gross Profits means the gross profits calculated under section 4;

  • Net Profit means such profit as is calculated in accordance with paragraph 61;

  • Operating Profits means, as applied to any Person for any period, the operating income of such Person for such period, as determined in accordance with GAAP.

  • Gross Profit means the sum produced by adding to the “net profit” the amount of the Insured “standing charges”, or if there be no “net profit”, the amount of the Insured “standing charges” less such a proportion of any net trading loss as the amount of the Insured “standing charges” bears to all the “standing charges” of the business.

  • Net Sales Revenue shall have the meaning as set out in Schedule "A"

  • Sales Revenue means receipts from the sale, lease, or rental of goods, services, or property;

  • Annual Revenue means the Company’s or a business unit’s net sales for the Fiscal Year, determined in accordance with generally accepted accounting principles; provided, however, that prior to the Fiscal Year, the Committee shall determine whether any significant item(s) shall be excluded or included from the calculation of Annual Revenue with respect to one or more Participants.

  • EBITDA means earnings before interest, taxes, depreciation and amortization.

  • Annual Earnings means your gross annual income from your Employer, not including shift differential, in effect just prior to the date of loss. It includes your total income before taxes. It is prior to any deductions made for pre-tax contributions to a qualified deferred compensation plan, Section 125 plan or flexible spending account. It does not include income received from commissions, bonuses, overtime pay or any other extra compensation or income received from sources other than your Employer.

  • Operating Profit means the excess of Gross Revenues over the following deductions (“Deductions”) incurred by Manager, on behalf of Owner, in operating the Hotel:

  • Gross Operating Profit For any Fiscal Year, the excess of Gross Revenues for such Fiscal Year over Gross Operating Expenses for such Fiscal Year.

  • Target EBITDA means, for each fiscal year, the EBITDA set forth in the operating budget of the Company, as approved by the Board, for the particular year.

  • Floating Profit/Loss in a CFD shall mean current profit/loss on Open Positions calculated at the current Quotes (added any commissions or fees if applicable).

  • Common profits means the balance of all income, rents, profits and revenues from the common areas and facilities remaining after the deduction of the common expenses;

  • EBIT means, for any period, the net income of the Company and its Subsidiaries on a Consolidated basis for such period plus each of the following with respect to the Company and its Subsidiaries on a Consolidated basis to the extent utilized in determining such net income: (a) Interest Expense and (b) provision for taxes.

  • Total Profit means the aggregate amount (before taxes) of the following: (i) the amount received by Grantee pursuant to Issuer's repurchase of the Option (or any portion thereof) pursuant to Section 7, (ii) (x) the amount received by Grantee pursuant to Issuer's repurchase of Option Shares pursuant to Section 7, less (y) the Grantee's purchase price for such Option Shares, (iii) (x) the net cash amounts received by Grantee pursuant to the sale of Option Shares (or any other securities into which such Option Shares are converted or exchanged) to any unaffiliated party, less (y) the Grantee's purchase price of such Option Shares, (iv) any amounts received by Grantee on the transfer of the Option (or any portion thereof) to any unaffiliated party, and (v) any amount equivalent to the foregoing with respect to the Substitute Option.

  • Net Losses means, for each fiscal year or other period, an amount equal to the Partnership's taxable income or loss for such year or period determined in accordance with Code Section 703(a) (for this purpose, all items of income, gain, loss or deduction required to be stated separately pursuant to Code Section 703(a)(1) shall be included in taxable income or loss), with the following adjustments:

  • Income year means any year or accounting period beginning 1 July of one calendar year and ending 30 June of the following calendar year or any other period that the Trustees by resolution adopt;

  • Total Revenues means revenues from all taxes and fees, excluding revenue from funds managed by local government on behalf of a specific third party, and does not include the proceeds from borrowing or asset sales.

  • Cumulative Net Income means, in respect of any Performance Period, the aggregate cumulative amount of the Adjusted Net Income for the calendar or other fiscal years of the Company during such Performance Period.

  • Cumulative EBITDA means, as of any date of determination, EBITDA of the Company from the Existing Notes Issue Date to the end of the Company’s most recently ended full fiscal quarter prior to such date, taken as a single accounting period.

  • Annual Accounting Period or “Financial Year” means the period commence on 1st July and shall end on 30th June of the succeeding calendar year.

  • Rate of Gross Profit means the gross profit earned expressed as a percentage of the turnover during the period between the date of the commencement of the business and the date of the incident.

  • Total Revenue bears the same meaning assigned to this expression in the Codes of Good Practice on Black Economic Empowerment, issued in terms of section 9(1) of the Broad-Based Black Economic Empowerment Act and promulgated in the Government Gazette on 9 February 2007;