Annual Profits definition
Annual Profits means the consolidated income before income taxes of the Company for the Performance Period, before the provision for incentive compensation earned pursuant to this Plan, and subject to accounting adjustments and adjustment for extraordinary items and charges to compensation expense from time to time resulting from issuing minority equity interests in our operating subsidiaries to their management teams in a one-time restructuring of the employment arrangements with each such management team.
Annual Profits means the consolidated income before interest expense and income taxes of the Company for the Performance Period, before the provision for incentive compensation earned pursuant to this Plan and before extraordinary items. For purposes of this calculation, (i) changes in generally accepted accounting principles which occur during the fiscal year, and (ii) discontinued operation and restructuring costs, as computed in accordance with generally accepted accounting principles, shall be taken into account to the extent determined by the Committee.
Annual Profits means the annual consolidated pre-tax operating income of PWG for the Performance Period before accounting for incentive compensation and corporate charges, the cost of restructuring and discontinued operations and other non-recurring charges.
Examples of Annual Profits in a sentence
Beginning at the end of 1997, to the extent that the Annual Profits of the current year exceed the Annual Profits of the prior year, the Employee shall be paid an annual bonus equal to ten percent (10%) of the amount of such excess, if any.
The Bonus shall equal 5% of the annual net pre-tax profits of Consolidated, CRC Washington and Lenders on a combined basis, if Consolidated, CRC Washington and Lenders earn annual net after tax profits (after payment of the Bonus and such bonuses to any other employee who is entitled to receive a bonus from the EMPLOYER based upon the same formula as set forth in this Section 2 (a) (ii)) in excess of six hundred thousand dollars ($600,000) for the year (the "Minimum Annual Profits").
More Definitions of Annual Profits
Annual Profits means pre-tax operating income of the Company for the Performance Period before accounting for incentive compensation and extraordinary items.