Pre-Tax Income definition

Pre-Tax Income means income, as determined by GAAP, prior to deduction of the Bonus Pool (as hereinafter defined) and income taxes, and if applicable, after the deduction of any bonus pool of a future officer bonus plan adopted by the Company relating to an applicable Award Year and adjustments approved by the Board as described herein.

Pre-Tax Income means income before income taxes, as publicly reported by the Company in its quarterly or annual financial statements, as applicable, prepared in accordance with generally accepted accounting principles. The financial statements shall mean the consolidated financial statements of the Company.

Pre-Tax Income means, with respect to each fiscal year, the Company’s aggregate consolidated net income adjusted to exclude debt redemption charges and deferred original issue discount deductions, as shown on the Company’s consolidated financial statements for such fiscal year, but calculated excluding any special, unusual or non-recurring items as determined by the Committee in its sole discretion in accordance with applicable accounting rules.

Examples of Pre-Tax Income in a sentence

• The determination of the Applicable Percentage, of the Net Pre-Tax Income and of the extent to which any Bonus under this Section 4 may be payable (the "Final Determination") shall be determined by the Board of Directors (or a subcommittee thereof appointed for such purpose) of the Corporation in accordance with the terms hereof based on the financial statements of the Corporation and the criteria set forth herein with respect to each fiscal year.

• In order to provide performance-based incentive compensation to the Executive, the Corporation hereby agrees to pay the Executive, in addition to the Base Salary set forth in Section 3 hereof, a minimum cash bonus in respect of each fiscal year during the Executive's employment hereunder (the "Bonus") equal to the Applicable Percentage (as defined below) of the Net Pre-Tax Income (as defined below) of the Corporation.

• So long as any Advance shall remain unpaid or any Lender shall have any Commitment hereunder, the Company shall maintain, as of the end of each fiscal quarter, a ratio of (a) Pre-Tax Income from Continuing Operations for the four fiscal quarters then ended to (b) Consolidated Interest Expense for such four fiscal quarters of not less than 2.0 to 1.0.

• For purposes hereof, the Applicable Percentage shall equal (a) 2.0% if the Net Pre-Tax Income of the Corporation is at least $500,000, but less than $1,500,000 (b) 2.25% if the Net Pre-Tax Income of the Corporation is at least $1,500,000 but less than $ 3,000,000 and (c) 2.5% if the Net Pre-Tax Income of the Corporation is at least $ 3,000,000.

• The Committee, in its sole discretion, may recommend to the Board for its approval adjustments to the calculation of Pre-Tax Income.

More Definitions of Pre-Tax Income

Pre-Tax Income or “PTI” means consolidated income before income taxes, as publicly reported by the Company in its consolidated financial statements prepared in accordance with generally accepted accounting principles.

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

Pre-Tax Income means, for any Person for any period, Consolidated Net Income for such Person, without regard to income tax expense for such period.

Pre-Tax Income as a Percent of Sales" shall mean for Xcelecom, Inc., with respect to each fiscal year in the Performance Period, gross sales reduced by operating costs (plus extraordinary income or minority income less extraordinary costs) divided by total sales.

Pre-Tax Income means an amount equal to the net income of the Company before taxes, depreciation, amortization, and extraordinary items, in each case computed in accordance with United States generally accepted accounting principles, consistently applied. The Company agrees to furnish to Employee a copy of the Company's financial statements not later than one hundred and five (105) days after the end of each fiscal year of the Company during the term of this Agreement. In the event that this Agreement is terminated other than pursuant to Section 9(a), the Employee shall be entitled to receive the amount which would be payable under this clause (b) for each fiscal quarter of any fiscal year in which Employee was employed by the Company at the date of such termination.

Pre-Tax Income means earnings (loss) from continuing operations before income taxes, as reported in Employer’s audited financial statements prepared in accordance with generally accepted accounting principles.

Pre-Tax Income means an Operating Unit's and/or a Rail Business Unit's Pre-Tax Income as shown in the Corporation's financial statements and subject to such adjustments as may be made by the Chief Executive Officer, without taking into account incentive compensation under the 2002 Sales Incentive Plan.