Company Net Income for any period means the total revenues of the Company for such period, less expenses applicable to such period other than additions to reserves for depreciation or bad debts or other similar non-cash reserves. “Company Net Income,” for purposes of calculating Operating Expenses in Section 15 of this Agreement, does not include the gain from the sale of the Company’s assets.
Company Net Income means the net income of the Company and its subsidiaries on a consolidated basis, determined in accordance with generally accepted accounting principles consistently applied, as adjusted to exclude (x) any extraordinary non-cash or nonrecurring non-cash charges or losses incurred by the Company and its subsidiaries other than in the ordinary course of business, including but not limited to losses or expenses resulting from redemptions or repayments of indebtedness, or modifications or amendments of the Company’s credit facility, in each case net of related tax benefit, and (y) other appropriate items as determined by the Board of Directors or the Executive Compensation Committee of the Board of Directors (the “Compensation Committee”). The amount payable under the Incentive Plan to Employee for each full calendar year during the Term shall equal the Base Salary actually paid to the Employee for such calendar year multiplied by the sum of the Department Performance Percentage and the Company Performance Percentage (as determined below) for such calendar year. Not later than March 15 of each calendar year, the maximum percentages for each of the Department Performance Percentage (the “Department Maximum Performance Percentage”) and the Company Performance Percentage (the “Company Maximum Performance Percentage”) shall be established by the Compensation Committee for such calendar year within a range of forty percent (40%) and sixty percent (60%); provided that the sum of such percentages shall equal one hundred percent (100%) each calendar year. If the Compensation Committee shall not timely establish either or both of the Department Maximum Performance Percentage or the Company Maximum Performance Percentage for the calendar year 2008, each of such percentages shall be fifty percent (50%). If the Compensation Committee shall not timely establish either or both of the Department Maximum Performance Percentage or the Company Maximum Performance Percentage for any future calendar year during the Term, the respective percentages that were applicable for the prior calendar year shall apply for such calendar year. The sum of the Department Performance Percentage and the Company Performance Percentage for each calendar year shall be referred to herein as the “Incentive Percentage.” For each calendar year the maximum Incentive Percentage shall be one hundred percent (100%).
Company Net Income means the taxable income of the Company (including capital gains and capital losses, but as to capital losses, only to the extent they do not exceed capital gains for the relevant period) determined as if the Company had filed a separate consolidated or combined income tax return with respect to the relevant calendar quarter with, for federal income taxes purposes, the Company as common parent or year, as the case may be, based on the amounts that would be, or would be estimated to be, reported on the federal income tax return of the Company for the relevant calendar year and adjusted under the principles set forth in Treasury Regulation Section
Examples of Company Net Income in a sentence
After giving effect to the special allocations set forth in Section 6.2 and Section 6.3, Company Net Income or Net Loss for any taxable year shall be allocated to the Members Pro Rata.
In no event shall Employee earn any amount under the Incentive Plan for any calendar year during the Term unless the actual Company Net Income for such calendar year equals or exceeds ninety percent (90%) of the Annual Net Income Target for such calendar year.
Shortly after the beginning of each calendar year, the Company’s Board of Directors will establish a target of the Company Net Income (as defined below) for such calendar year (the “Annual Net Income Target”).
Total Company performance shall be measured based on the actual consolidated Company Net Income achieved (“Actual Net Income”) as compared against the targeted consolidated Company Net Income (“Net Income Target”) for the Plan Year, as approved by the Board of Directors of the Company.
The portion of each Member's distributive share of Company Net Income that is characterized as ordinary income pursuant to Section 1245 or 1250 of the Code shall be proportionate to the amount of Net Income or Net Loss which included the corresponding depreciation deductions that were allocated to such Member as compared with the amount of depreciation deductions allocated to all Members.
More Definitions of Company Net Income
Company Net Income means the net income (or loss), after Taxes, of the Acquired Companies (taken as a whole) for the period from January 1, 2002 through the Closing Date calculated in accordance with GAAP and consistent with the standards, principles, practices and policies used in connection with the Financial Statements.
Company Net Income means, with respect to any period, the aggregate net income attributable to the Company Accounting Group on a condensed consolidated basis over such period (excluding net income attributable to any minority interest in any Subsidiary of the Company), determined in accordance with GAAP, consistently applied: it being understood that, for purposes of calculating Company Net Income for any period the following will apply (the “Accounting Rules”):
Company Net Income means the net income of the Company and its subsidiaries on a consolidated basis, determined in accordance with generally accepted accounting principles consistently applied, as adjusted to exclude (x) any extraordinary non-cash or nonrecurring non-cash charges or losses incurred by the Company and its subsidiaries other than in the ordinary course of business, including but not limited to losses or expenses resulting from redemptions or repayments of indebtedness, or modifications or amendments of the Company’s credit facility, in each case net of related tax benefit, and
Company Net Income means net income of the Company calculated in accordance with GAAP; provided, however, for purposes of the calculation of Company Net Income, (i) referral fees, if any, of the Buyer, or any other Subsidiary or Affiliate of the Buyer, will be deducted but may not exceed fees charged to any other Subsidiary or Affiliate of the Buyer and in no case will they exceed ten percent (10%) of the Contract Sales Value, (ii) any ordinary income or one-time gains or extraordinary gains attributable Patent Specific Revenue, Gains or Judgments will be excluded, and (iii) only direct costs and expenses attributable to the Company will be counted. “Company Technology” has the meaning ascribed to it in the recitals.
Company Net Income means the taxable income of BGLS (including capital gains and capital losses, but as to capital losses, only to the extent they do not exceed capital gains for the relevant period) determined as if BGLS had filed a separate income tax return with respect to the relevant calendar quarter or year, as the case may be, based on the amounts that would be, or would be estimated to be, reported on the federal income tax return of BGLS for the relevant calendar year and adjusted under the principles set forth in Treasury Regulation Section 1.1552-1(a)(2)(ii) (and computed without regard to any BGLS net operating loss carryforwards).
Company Net Income for any period, shall mean the consolidated net ------------------ income or loss of the Company and its Subsidiaries as it would appear on a consolidated statement of income of the Company and its Subsidiaries for such period prepared in accordance with GAAP (such consolidated net income or loss shall (a) be net of extraordinary items and (b) include, to the extent the inclusion thereof is in accordance with GAAP, the equity of the Company or any of its Subsidiaries in the net income or loss of any other Person).
Company Net Income means, for the fiscal period in question, the net income of the Company, as reflected on the statement of income of the Company, after deduction of all expenses incurred and properly paid or accrued in such fiscal period including interest paid to MCG Finance Corp. and after deduction for all federal, state and local income taxes on income of the company for such fiscal period; all calculated in accordance with US GAAP.