Pre-Tax Earnings definition

Pre-Tax Earnings means the Corporation's earnings before income taxes as reported in the Company's Consolidated Income Statement for each fiscal year of the Performance Period, excluding any non-cash charge incurred in accordance with accounting principles generally accepted in the United States of America (GAAP) for any restricted stock or restricted stock unit awards granted during the Performance Period and all options, restricted stock and other equity compensation granted to Directors during the Performance Period.

Pre-Tax Earnings means earnings of the Company determined prior to payment or deduction of federal or state income taxes, determined in accordance with generally accepted accounting principles, consistently applied. It is understood by the Parties that the total issuance (regarding this $4,000,000 milestone described above) is capped at a total of an option for 75,000 shares;

Pre-Tax Earnings means net earnings (or losses), before taxes, computed in accordance with GAAP.

Examples of Pre-Tax Earnings in a sentence

• Such statement shall provide such computations and set forth such detail as is reasonably necessary to substantiate the calculation of Pre-Tax Earnings and the amount of the Bonus payable with respect to such year.

• Twenty-five percent (25%) of the Award shall be earned based on the Company’s attainment of Adjusted Pre-Tax Earnings (“XXXX”) factor described in Section 3(b) below.

• For each complete calendar year ending during the term hereof, the Executive shall be entitled to a cash bonus (the "Bonus") equal to 4.342% of the cumulative earnings before taxes ("Pre-Tax Earnings") (as defined below) of the Employer during each complete calendar year hereof.

• However, the amount of the Base Incentive Compensation in a fiscal year shall be reduced, if necessary, so that the Corporation’s Pre-Tax Earnings, after reduction for the Base Incentive Compensation, shall not be less than four percent (4%) of the Corporation’s Total Revenue for that fiscal year.

• Non-GAAP Reconciliation Statement * Adjusted Pre-Tax Earnings from Continuing Operations, Adjusted EBITDA from Continuing Operations, Debt Obligations/Adjusted EBITDA Ratio and Adjusted Net Leverage Ratio are non-GAAP financial measures and should not be considered alternatives to net income or any other performance measure derived in accordance with GAAP.

More Definitions of Pre-Tax Earnings

Pre-Tax Earnings shall be measured in accordance with Generally Accepted Accounting Principles (“GAAP”) as in effect on the Grant Date. For purposes of determining the achievement of the performance targets set forth above, “Pre-Tax Earnings” shall exclude the following: non-cash interest and one-time charges resulting from the termination or modification of interest rate swaps; losses related to the acceleration of amortization of deferred debt issue costs; and gains or losses resulting from other onetime events as determined by the board of directors of SCT Chassis.

Pre-Tax Earnings means the sum of the Adjusted Pre-Tax Earnings over the Performance Period for each period in which Adjusted Pre-Tax Earnings is measured pursuant to the above definition of Adjusted Pre-Tax Earnings.

Pre-Tax Earnings has the meaning set forth in Section 2.3(b).

Pre-Tax Earnings of any Person means, with respect to the applicable Covenant Computation Period, such Person's Net Income, plus any provision for income taxes, all as determined in accordance with GAAP.

Pre-Tax Earnings means the amount calculated in good faith by the Company for the applicable twelve month period in the same manner as “Income (loss) before provision for (benefit from) income taxes” is calculated and reported by Holdings in its publicly reported financials for the “Consumer” and “Insurance” segments.

Pre-Tax Earnings means the Company’s earnings before income taxes, as determined in accordance with generally accepted accounting principles, consistently applied with the Company's past practices, and as reflected in the Company's audited financial statements for the relevant fiscal year. If the Company does not achieve positive Pre-tax Earnings for any fiscal year, no Bonus Pool shall be established for such fiscal year. The Bonus Pool shall be allocated among Employee and such other officers of the Company as are recommended by Employee and approved by the Board. The Board of Directors, in its sole discretion, shall determine the allocation of Bonus Pool funds among the eligible participants; provided, however, that the entire balance of the Bonus Pool shall be allocated each year. The portion of the Bonus Pool payable to Employee with respect to any fiscal year (net of any tax or other amount properly withheld therefrom) shall be paid by the Company within 2½ months days after the end of the Company’s fiscal year. The amount payable pursuant to this Section 2.2 for any fiscal year during which the Term expires or this Agreement is terminated shall be prorated and payable only with respect to the portion of the fiscal year during which Employee was employed by the Company. No amount shall be payable pursuant to this Section 2.2 with respect to any fiscal year during which Employee’s employment is terminated by the Company for Cause, or by Employee as a result of his voluntary resignation.

Pre-Tax Earnings means Merrill Lynch's Pre-Tax Earnings as reported in its consolidated financial statements adjusted to eliminate: (1) the cumulative effect of changes in accounting policy (which include changes in generally accepted accounting principles) adopted by Merrill Lynch, for the relevant performance year; (2) expenses classified as "Provisions for Restructuring"; (3) expenses related to "Goodwill Amortization"; (4) gains and/or losses classified as "Discontinued Operations"; and (5) gains or losses classified as "Extraordinary Items", which may include: (A) profits or losses on disposal of assets or segments of the previously separate companies of a business combination within two years of the date of such combination; (B) gains on restructuring payables; (C) gains or losses on the extinguishment of debt; (D) gains or losses from the expropriation of property; (E) gains or losses that are the direct result of a major casualty; (F) losses resulting from a newly enacted law or regulation; and (G) other expenses or losses that are unusual in nature or infrequent in occurrence.