Profit Sharing Payment Sample Clauses

Profit Sharing Payment. For each calendar month, a Profit Sharing Payment (“PSP”) is paid by ETP to MPC for volumes blended at the Bay City terminal. The PSP is calculated as the volume of gallons blended (“GB”) at Bay City in such month multiplied by fifty percent multiplied by the following value: (A) the volume weighted daily average of the high and low assessments of Argus posted Chicago Cycle 1 gasoline price (85 CBOB) minus (B) the volume weighted daily average of the high and low assessments of the OPIS posted Mt. Belvieu TET normal butane price minus (C) the average supply cost. Fee calculations pursuant to this Schedule 5.1 for butane blending services completed prior to July 1, 2019 shall not be affected by changes in the foregoing formulas.
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Profit Sharing Payment. The Company shall pay to the Trust an amount equal to 20% of the sum of Profits (or zero if Profits is a negative number) and Government Proceeds within 30 days following the last day of the month during which the Closing Date occurs, for the period beginning on the first day of the Fiscal Year in which the Closing Date occurs and ending on the day prior to the Closing Date. Such amount shall be determined in good faith by management of the Company based on the financial results of the Company and reasonable assumptions and estimates, in each case determined in a manner consistent with past practice for the determination of Profits for the Company's Fiscal Years under the Supplemental Agreement. When the Company makes the payment of Profits pursuant to this Section 3.02, it shall deliver to the Trust a certificate signed by the chief executive officer, the chief financial officer or the controller of the Company setting forth in reasonable detail the computation of such Profits and explaining any material assumptions or estimates used in such computation. If the Closing Date occurs on a day other than the first day of a month, Profits for the period from the first day of such month to the day prior to the Closing Date (the "Profit Period") shall be the product of (A) Profits for such month multiplied by (B) the quotient of (i) the number of days in the Profit Period divided by (ii) the number of days in such month. Notwithstanding anything to the contrary contained in this Agreement or in the Second Amended and Restated Supplemental Agreement, the Company shall remain obligated to make the payment required by Section 2.03(a) of the Supplemental Agreement with respect to any Fiscal Year of the Company which ends prior to the Fiscal Year in which the Closing Date occurs and for which such payment has not been made as of the date of this Agreement. The parties agree that Profits shall be determined by not giving effect to any Disposition or the transactions contemplated by this Agreement, including, without limitation, any payment of Profits pursuant to this Section 3.02, the issuance of the Conversion Shares pursuant to Section 3.01, the Dividend or any accounting or tax effects relating to any of the foregoing.
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Profit Sharing Payment. All full-time regular Associates of RSDC who are actively employed on March 31st (October 1–March 31 coverage period) and September 30th (April 1–September 30 coverage period) will be eligible to participate in the Plan for the applicable coverage period. Associates eligible for participation for a partial Plan period (except those who voluntarily terminate employment prior to March 31 or September 30, or who were terminated for any reason other than lack of work at any time prior to the payment date) will be paid a prorated share of the profit share payment. This prorated share will be calculated using each Associate's base wage (not including earnings during evaluation, holiday, vacation or other nonworking earnings) overtime (from base rate only) and group leader premium for each coverage period under the Plan. An Associate shall not participate in the Plan during the evaluation period. Profit sharing payments for each year will be made by separate payment as early as possible after the financial results for March and September are known. Compensation payable under the Plan will be computed from the following calculations: (RSDC Net Income) x (7% Allocated Profit Share) = Profit Share Pool Profit Share Pool/Total Payroll Amount* = Percent Payout *Total payroll amount includes base wage (not including earnings during evaluation, holiday, vacation or other nonworking earnings), overtime (from base rate only) and group leader premium The Profit Sharing payment will be calculated by applying the applicable payout percentage for the period to the total as described above (not including earnings during evaluation, holiday, vacation or other nonworking earnings) overtime (from base rate only) and group leader premium paid to each participant during the period. Disbursements shall be paid semi-annually in June and November each year.
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Profit Sharing Payment. In addition to the pay increases, agreement has been reached for profit sharing over the life of this agreement. For each financial year up to and including 2024/2025, a one-off payment will be made to employees, payable on Royal Mail Group Ltd returning an operating profit in any financial year in that period. The first 20% of operating profit will be distributed as a one- off payment to employees, paid after publication of the company’s audited accounts. Any payment is a non-consolidated, non-contractual bonus subject to tax and national insurance. To receive the one-off payment employees must be in Royal Mail employment on the date the applicable payment is paid.
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Profit Sharing Payment. All ROW Royalty Payments shall be accompanied by a report setting forth the Net Sales of the Product and their calculations during the applicable fiscal quarter of Neutron ROW forming the basis of such ROW Royalty Payment.
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Profit Sharing Payment 
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Related to Profit Sharing Payment

  • Profit Sharing Plan Under the Northrim BanCorp, Inc. Profit Sharing Plan (the “Plan”), Executive shall be eligible to receive an annual profit share based on performance as defined by the Board of Directors. Executive will be classified in the Executive tier under the Plan’s Responsibility Factors. If Employer is required to prepare an accounting restatement due to “material noncompliance of the Employer,” the Employer will recover from the Executive any incentive compensation during the three (3) years prior to the date of the restatement, in excess of what would have been paid under the restatement. Executive’s signature on this Agreement authorizes Employer to offset or deduct from any compensation Employer may owe Executive, any excess payments (in whole or in part) that Executive may owe Employer due to such restatement(s).

  • Profit Sharing Profit sharing, bonuses, or other similar compensation of any kind paid by CM/GC to its employees.

  • Employer Profit Sharing Contributions An Employee will be eligible to become a Participant in the Plan for purposes of receiving an allocation of any Employer Profit Sharing Contribution made pursuant to Section 11 of the Adoption Agreement after completing 1 (enter 0, 1, 2 or any fraction less than 2)

  • Pension and Profit Sharing Plans Executive shall be entitled to participate in any pension or profit sharing plan or other type of plan adopted by Company for the benefit of its officers and/or regular employees.

  • Cash and Incentive Compensation For clarification, it is understood by all parties that other than as specified herein, the Company is not obligated to award any future grants of stock options or other form of equity compensation to Executive during Executive's employment with the Company.

  • Termination Compensation Termination Compensation equal to two (2) times the Executive's Base Period Income shall be paid to the Executive in a single sum payment in cash on the thirtieth (30th) business day after the later of (a) the Control Change Date and (b) the date of the Executive's employment termination; provided that if at the time of the Executive's termination of employment the Executive is a Specified Employee, then payment of the Termination Compensation to the Executive shall be made on the first day of the seventh (7th) month following the Executive's employment termination.

  • Contribution Payment To the extent the indemnification provided for under any provision of this Agreement is determined (in the manner hereinabove provided) not to be permitted under applicable law, the Company, in lieu of indemnifying Indemnitee, shall, to the extent permitted by law, contribute to the amount of any and all Indemnifiable Liabilities incurred or paid by Indemnitee for which such indemnification is not permitted. The amount the Company contributes shall be in such proportion as is appropriate to reflect the relative fault of Indemnitee, on the one hand, and of the Company and any and all other parties (including officers and directors of the Company other than Indemnitee) who may be at fault (collectively, including the Company, the "Third Parties"), on the other hand.

  • Retirement Benefit Should the Director still be in the Directorship ------------------ of the Association upon attainment of his 70th birthday, the Association will commence to pay him $590 per month for a continuous period of 120 months. In the event that the Director should die after becoming entitled to receive said monthly installments but before any or all of said installments have been paid, the Association will pay or will continue to pay said installments to such beneficiary or beneficiaries as the Director has directed by filing with the Association a notice in writing. In the event of the death of the last named beneficiary before all the unpaid payments have been made, the balance of any amount which remains unpaid at said death shall be commuted on the basis of 6 percent per annum compound interest and shall be paid in a single sum to the executor or administrator of the estate of the last named beneficiary to die. In the absence of any such beneficiary designation, any amount remaining unpaid at the Director's death shall be commuted on the basis of 6 percent per annum compound interest and shall be paid in a single sum to the executor or administrator of the Director's estate.

  • Pension All present employees enrolled in the Hospital's pension plan shall maintain their enrolment in the plan subject to its terms and conditions. New employees and employees not yet eligible for membership in the plan shall, as a condition of employment, enroll in the plan when eligible in accordance with its terms and conditions.

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