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.

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.

  • 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.

  • 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.

  • 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 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, with respect to the Company and each company in the Industry Group and each Performance Period, the aggregate consolidated net income adjusted to exclude reported income taxes of the Company or such company for such Performance Period. Pre-tax Income shall be determined based on the regularly prepared and publicly available statements of operations of the Company and each company in the Industry Group prepared in accordance with applicable accounting rules; provided, however, that Pre-tax Income shall be adjusted to exclude (i) write-offs of assets (including aircraft and associated parts), (ii) one-time gains or losses from the disposal of assets, and (iii) any other item of gain, income, loss, or expense determined to be special, extraordinary or unusual in nature or infrequent in occurrence, in each case under clauses (i), (ii) and (iii) as determined by the Committee in accordance with applicable accounting rules. If the fiscal year of a company in the Industry Group is not the calendar year, then such company’s Pre-tax Income for a Performance Period shall be determined based upon the fiscal quarters of such company that coincide with the fiscal quarters in such Performance Period.
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 means the net income of the Corporation and all of its consolidated Subsidiaries (as that term is defined in the Merger Agreement), including, without limitation, TechStar, after deduction of all expenses paid or accrued for the appropriate Measuring Period in question in accordance with generally accepted accounting principles, but before application of or deduction for: (i) all interest on indebtedness aggregating $500,000 originally incurred by AUGI on December 11, 1996 and assumed by TechStar pursuant to the Merger Agreement, and (ii) all federal, state and local income taxes for such Measuring Period, all as determined by the independent auditors engaged to audit the consolidated financial statements of the Corporation, subject only to the right of the Employee (at his sole cost and expense) to engage his own accountant or financial advisor to review the calculations of such Pre-Tax Income for the applicable Measuring Period at the Employee's expense. Disputes shall be resolved in accordance with Section 10(f) of this Agreement.
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. At the end of the 2015 fiscal year, the Committee may use its sole discretion to adjust downward, in part or in whole, the Annual Performance Bonus based on performance of the Company, including the annual amount of Pre-Tax Income earned and performance of the participant. Provided that for the fiscal year ending September 30, 2015 no more than 0.6% of Pre-Tax Income for the year shall be paid to Mr. Horton, no more than 0.35% of Pre-Tax Income for the year shall be paid to Mr. Auld and no more than 0.1% of Pre-Tax Income for the year shall be paid to Mr. Murray.