Incentive Profit definition

Incentive Profit means operating income computed on the basis of generally accepted accounting principles (GAAP) in the United States, but without adjustment for (i) loss or loss recovery, (ii) damage or damage recovery, (iii) workers compensation, (iv) payouts under the EICP, the EIP, or any other employee incentive plan (on a Business Unit by Business Unit basis), (v) income tax, or (vi) except as otherwise specified by the Committee with respect to a Business Unit, interest income or expense. For clarity, Incentive Profit for Business Units other than the Company and Con-way Enterprise Services, Inc. is based on operating income prior to adjusting for any Award Payouts to be paid pursuant to Section 6, and Incentive Profit for the Company and for Con-way Enterprise Services, Inc. is based on consolidated pre-tax income of the Company, after adjusting for any Award Payouts to be paid pursuant to Section 6 to Participants employed by any other Business Units, but prior to adjusting for any amounts to be paid pursuant to Section 6 to Participants who are employed by the Company or by Con-way Enterprise Services, Inc., and prior to adjusting for income tax. The Committee reserves the right to determine what items are to be included in Incentive Profit, including but not limited to whether significant unusual items are to be taken into account in determining Incentive Profit.
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Examples of Incentive Profit in a sentence

  • For each complete calendar year of the Employment Term, the Executive shall be eligible to participate in the U.S. Xpress Annual Short Term Incentive Profit Sharing Plan, or such other bonus incentive plan as may be adopted by the Compensation Committee from time to time (the “Incentive Bonus Plan”), and receive an annual bonus pursuant thereto (the “Annual Bonus”).

  • In connection with the merger of the Security Capital Bancorp Employees' Incentive Profit Sharing and Savings Plan into this Plan on or about July 1, 1995, the Committee shall establish and maintain a separate account (which shall be called a "Merged Plan Account") in the name of each Participant whose Employer Matching Account and/or Employer Incentive Profit Sharing Account from the Security Capital Bancorp Employees' Incentive Profit Sharing and Savings Plan was transferred to the Plan.

  • The Employee shall be eligible to participate in the U.S. Xpress Annual Short Term Incentive Profit Sharing Plan, or such other bonus incentive plan as may be adopted by the Company from time to time (the “Incentive Bonus Plan”), and receive an annual bonus pursuant thereto (the “Annual Bonus”).

  • If the Employer Matching Account and the Employer Incentive Profit Sharing Account are not full vested and nonforfeitable, these accounts shall be maintained as subaccounts within the Merged Plan Account and shall be subject to vesting schedules applicable to these Accounts under the Security Capital Bancorp Employees' Incentive Profit Sharing and Savings Plan on June 30, 1995.

  • Subaccounts #2 and #3 within the Merged Plan Account shall be subject to the vesting schedules applicable to these Accounts under the Security Capital Bancorp Employees' Incentive Profit Sharing and Savings Plan for any Participants who terminate employment with the Employer prior to May 19, 1995.

  • The Parties agree that disagreements about decisions by or actions of Owner under this Agreement on payments from the Incentive Profit Pool are subject to the disputes clauses of any Contract and, more generally, subject to litigation or arbitration.

  • Savings Incentive Profit Sharing Plan (401(k)) (the "HealthLink Plan") will be merged into the Plan effective as of 11:59 p.m. on July 14, 2002.

  • Employee acknowledges and agrees that Employee has been paid all compensation due, except the following: (i) final paycheck for the period from [insert date] to [insert date], which will also include all vacation pay due; and (ii) any pro-rata Cash Award to which the Employee is entitled under Employer's Incentive Profit Sharing Program and Corporate Policy HR055, which will be paid as soon as administratively possible, generally at the same time as other Associates in Employee's former business unit.

  • Said Employer Matching Account and Employer Incentive Profit Sharing Account that were transferred to the Plan on behalf of a Participant shall be credited to the Participant's Merged Plan Account.

  • Construction Manager has a % initial interest in the Incentive Profit Pool.