Common use of Level of Payout Clause in Contracts

Level of Payout. The Company agrees that it will create a profit sharing pool (the Pool) consisting of the following percentages of the Company's Quarterly Profits, as defined below, and to distribute the Pool within forty-five (45) days of the end of each fiscal quarter, in the manner described below. The fourth (4th) quarter payment will be distributed within fifteen (15) days following the date of public release of the Company's annual audited financial statements, which may include an adjustment for the correction of errors in prior quarters. a. Seven and one half percent (7.5%) of all Profits between $10 and $50 of Profit per Ton Shipped; b. Ten percent (10.0%) of all Profits above $50 of Profit per Ton Shipped.

Level of Payout. The Company agrees that it will create a profit sharing pool (the Overall Pool) consisting of the following percentages of the Company's Quarterly Profits, as defined below, and to distribute the Pool within forty-five (45) days of the end of each fiscal quarter, in the manner described below. The fourth (4th) quarter payment will be distributed within fifteen (15) days following the date of public release of the Company's annual audited financial statements, which may include an adjustment for the correction of errors in prior quarters. a. Seven and one one-half percent (7.5%) of all Profits between $10 and $50 of Profit per Ton Shipped; b. Ten Fifteen percent (10.015.0%) of all Profits above $50 of Profit per Ton Shipped.