Profit Incentive definition

Profit Incentive. If AMERX profit is less than $750,000, the Executive will receive a cash payment equal to 3.25% of the total profit.
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Profit Incentive. The profit incentive, which includes profit from product sales, as well as profit from other activities, which may be designated from time to time by the Board of Directors, will be based on audited fiscal year 2017. Amerx Profit Bonus: If Amerx profit is $250,000 or more, but less than $500,000, the Executive will receive a cash payment equal to .75% of the total profit. If Amerx profit is $500,000 or more, but less than $750,000, the Executive will receive a cash payment equal to 1% of the total profit. If Amerx profit is $750,000 or more, but less than $1,000,000, the Executive will receive a cash payment equal to 1.25% of the total profit. If Amerx profit is $1,000,000 or more, the Executive will receive a cash payment equal to 1.45% of the total profit. The Profit Incentive Bonus for Amerx will be paid by Amerx to the Executive after the close of the fiscal year end. APPROVED: PROCYON CORPORATION AMERX HEALTH CARE CORPORATION By: /s/ Xxxxxx X. Xxxxxxxx /s/ Justice X. Xxxxxxxx Xxxxxx X. Xxxxxxxx Justice X. Xxxxxxxx Chief Executive Officer President By: /s/ Xxxx X. Xxxxx, Xx. By: /s/ Xxxxx X. Xxxxxxxx Xxxx X. Xxxxx, Xx. Xxxxx X. Xxxxxxxx Director, Member of the Procyon Vice President of Operations Corporation Compensation Committee By: /s/ Xxxxxx X. Xxxxxxxx EXECUTIVE: Xxxxxx X. Xxxxxxxx Director, Member of the Procyon /s/ Xxxxxx X. Xxxxx Corporation Compensation Committee Xxxxxx Xxxxx Vice President of Sales Effective Date: July 1, 2016
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Profit Incentive. The profit incentive, which includes profit from product sales, as well as profit from other activities which may designated from time to time by the Board of Directors, will be based on audited fiscal year 2021. AMERX Profit Bonus:
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More Definitions of Profit Incentive

Profit Incentive. The profit incentive, which includes profit from product sales, as well as profit from other activities which may designated from time to time by the Board of Directors, will be based on audited fiscal year 2018. Profit Bonus
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Profit Incentive. If AMERX profit is $1,000,000 or more, the Executive will receive a cash payment equal to 3.00% of the total profit. The Profit Incentive Bonus for AMERX will be paid by AMERX to the Executive after the close of the fiscal year end. APPROVED: PROCYON CORPORATION: AMERX HEALTH CARE CORPORATION By: /s/ Justice W. Xxxxxxxx EXECUTIVE: Justice W. Xxxxxxxx President By: /s/ Fxxx X. Xxxxx By: /s/ Gxxxxx X. Xxxxx Fxxx X. Xxxxx, Xx. Gxxxxx X. Xxxxx Director, Member of the Procyon Vice President of Sales Corporation Compensation Committee By: /s/ Jxxxxx X Xxxxxxxx Jxxxxx X. Xxxxxxxx Director, Member of the Procyon Corporation Compensation Committee Effective Date: July 1, 2021
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Profit Incentive. The profit incentive, which includes profit from product sales, as well as profit from other activities which may designated from time to time by the Board of Directors, will be based on audited fiscal year 2022. AMERX Profit Bonus: 3.25% Profit Incentive: If AMERX profit is less than $750,000, the Executive will receive a cash payment equal to 3.25% of the total profit.
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Profit Incentive. If AMERX profit is $1,000,000 or more, the Executive will receive a cash payment equal to 4.25% of the total profit and 50,000 non-qualified options to purchase Procyon common stock, pursuant to the 2020 Stock Option Plan. The Profit Incentive Bonus for AMERX will be paid by AMERX to Executive after the close of the fiscal year end. APPROVED: PROCYON CORPORATION AMERX HEALTH CARE CORPORATION EXECUTIVE: By: By: Justice X. Xxxxxxxx Xxxxx X. Xxxxxxxx Chief Executive Officer and Chief Financial Officer and AMERX AMERX CEO/President Health Care VP of Operations By: Xxxx X. Xxxxx, Xx. Director, Member of the Procyon Corporation Compensation Committee By: Xxxxxx X. Xxxxxxxx Director, Member of the Procyon Corporation Compensation Committee Effective Date: July 1, 2023
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Profit Incentive. If AMERX profit is $1,000,000 or more, the Executive will receive a cash payment equal to 3.00% of the total profit. The Profit Incentive Bonus for AMERX will be paid by AMERX to the Executive after the close of the fiscal year end. APPROVED: PROCYON CORPORATION AMERX HEALTH CARE CORPORATION EXECUTIVE: By: By: Justice X. Xxxxxxxx Xxxxxx X. Xxxxx Chief Executive Officer/President and AMERX Health Care Vice President of Sales AMERX Health Care CEO/President By: Xxxx X. Xxxxx, Xx. Director, Member of the Procyon Corporation Compensation Committee By: Xxxxxx X. Xxxxxxxx Director, Member of the Procyon Corporation Compensation Committee Effective Date: July 1, 2023
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Related to Profit Incentive

  • Average Incentive Compensation means the average of the annual incentive compensation under Subparagraph 3(a) received by Executive for the three (3) immediately preceding fiscal years or such fewer number of complete fiscal years as Executive may have been employed by the Company. In no event shall “Average Incentive Compensation” include any sign-on bonus, retention bonus or any other special bonus. Notwithstanding the foregoing, if the Executive breaches any of the provisions contained in Paragraphs 4 and 5 of this Agreement, all payments of the Severance Amount shall immediately cease. Notwithstanding the foregoing, in the event Executive terminates his employment for Good Reason as provided in Subparagraph 6(e), he shall be entitled to the Severance Amount only if he provides the Notice of Termination provided for in Subparagraph 6(f) within thirty (30) days after the occurrence of the event or events which constitute such Good Reason as specified in clauses (A), (B), (C), (D), (E) and (F) of Subparagraph 6(e);

  • STIP means the Company’s short-term incentive plan under Section 8 of the Company’s 2007 Omnibus Incentive Plan, effective May 8, 2007, as may be amended from time to time, or any successor plan, program or arrangement thereto.

  • Long-Term Incentive Award means an Award described in Section 6(g) hereof that is based upon a period in excess of one year.

  • Incentive Compensation Plan means any plan, agreement or other arrangement that provides for the grant or issuance of equity or equity-based awards and that is now in effect or is hereafter adopted by the Company or the Managing Member for the benefit of any of their respective employees or other service providers (including directors, advisers and consultants), or the employees or other services providers (including directors, advisers and consultants) of any of their respective Affiliates or Subsidiaries.

  • Incentive Pay means an annual amount equal to the aggregate annual bonus, in addition to Base Pay, made or to be made in regard to services rendered in any calendar year or performance period pursuant to any bonus plan of the Company.

  • Annual Incentive Plan means the Cinergy Corp. Annual Incentive Plan or any similar plan or successor to the Annual Incentive Plan.

  • Incentive Compensation Plans means annual incentive compensation plans and long-term incentive compensation plans of the Company, which long-term incentive compensation plans may include plans offering stock options, restricted stock and other long-term incentive compensation.

  • Management Incentive Plan means the Company’s bonus program, as implemented by the Company’s board of directors from time to time and pursuant to which the Executive may receive incentive-based compensation at fiscal year end.

  • Incentive Compensation means any compensation that is granted, earned or vested based wholly or in part upon the attainment of a Financial Reporting Measure.

  • Incentive Bonus means a bonus opportunity awarded under Section 9 pursuant to which a Participant may become entitled to receive an amount based on satisfaction of such performance criteria as are specified in the Award Agreement.

  • Other Incentive Award means an Award denominated in, linked to or derived from Shares or value metrics related to Shares, granted pursuant to Section 9.6 hereof.

  • Tax Incentive has the meaning set forth in Section 3.13(g).

  • Long-Term Incentive Plan or “LTIP” means a plan providing compensation intended to motivate performance over a period greater than one financial year. LTIPs do not include option or SAR plans or plans for compensation through shares or units that are subject to restrictions on resale;

  • Clawback Eligible Incentive Compensation means all Incentive-based Compensation Received by an Executive Officer (i) on or after the effective date of the applicable Nasdaq rules, (ii) after beginning service as an Executive Officer, (iii) who served as an Executive Officer at any time during the applicable performance period relating to any Incentive-based Compensation (whether or not such Executive Officer is serving at the time the Erroneously Awarded Compensation is required to be repaid to the Company), (iv) while the Company has a class of securities listed on a national securities exchange or a national securities association, and (v) during the applicable Clawback Period (as defined below).

  • Annual Award means the cash payment paid or payable to the Executive with respect to a fiscal year under the Corporation's Incentive Compensation Performance Plan.

  • Annual Incentive Award means an Award made subject to attainment of performance goals (as described in Section 14) over a performance period of up to one year (the Company’s fiscal year, unless otherwise specified by the Committee).

  • MIP has the meaning set forth in Section 3(b) of the Agreement.

  • Bonus means the bonus described in the Section 2.3.

  • incentive plan award means compensation awarded, earned, paid, or payable under an incentive plan;

  • Company Incentive Plan shall have the meaning assigned to it in Section 1.7 hereof.

  • Incentive Plans means any incentive, bonus, deferred compensation or similar plan or arrangement currently or hereafter made available by Employer in which Executive is eligible to participate.

  • Bid incentive means an amount deducted, for bid evaluation purposes only, from the contract base bid in order to calculate the bid price to be used to evaluate the bid on a competitively bid contract.

  • Annual Bonus shall have the meaning set forth in Section 4(b) below.

  • Incentive Award means the right to receive a cash payment to the extent Performance Goals are achieved, and shall include “Annual Incentive Awards” as described in Section 10 and “Long-Term Incentive Awards” as described in Section 11.

  • Cash Incentive Award means a cash award granted pursuant to Section 8 of this Plan.

  • Performance Compensation Award means any Award designated by the Committee as a Performance Compensation Award pursuant to Section 11 of the Plan.