Profit Split Clause Samples

Profit Split. As additional compensation for Employee’s services, Employee shall receive a distribution (“Distribution”) of a defined percentage of the EBITDA for the Company each calendar quarter according to a mutually agreed performance target (“Target”), as made an Exhibit to this Agreement. EBITDA is defined as the earnings before interest, depreciation, taxes, depreciation, and amortization and will be paid as reported by the Company’s accountant and as reviewed by the Company’s auditor. It will be accumulative on a quarter-to-quarter basis, that is, if one quarter has a negative EBITDA, that would be offset against the following quarter’s positive EBITDA distribution. The Employee has the option to accept the Distribution in either direct cash payment or shares of Issuer’s common stock, or any combination, at Employee’s option. Stock would be valued at the prior 10-day closing price and issued under SEC rule 144 restriction. Distribution Target Split is Defined as: a. If the Company achieves >25% of Target for the quarter, the Distribution split will be 90%/ 10% Company/ Employee, b. If >37.5% of Target 80% / 20% Company/ Employee c. If >50% of Target 70% / 30% Company/ Employee d. If >75% of Target 60%/ 40% Company / employee e. If 100% of Target 50%/ 50% Company / Employee f. If >125% of Target 40% / 60% Company/ Employee All of the Distributions will be put into a Distribution Pool for distribution as agreed by the Managers of the Company.

Profit Split. In the event Landlord approves any Assignment or Sublease for which Landlord's consent is required, fifty percent (50%) of the excess, after deducting leasing commissions and tenant improvement costs applicable to such Sublease or Assignment, amortized over the term of such Sublease or Assignment, of the total amount of rent and other consideration paid under or in consideration for any such Sublease or Assignment over the Base Rent and Additional Charges payable hereunder, shall be payable to Landlord as Additional Charges.

Profit Split. Subject to the provisions in this Section 5, upon commercialization of the Product in the Territory, the Parties shall be entitled to a profit split of Adjusted Gross Profit in the Territory, wherein ETON shall pay to AN▇▇▇▇▇▇ ▇0% of AGP (the “Profit Split”). Profit Split payments will be reconciled and calculated on a quarterly basis and will be paid no later than sixty (60) days after the end of the calendar quarter directly to AN▇▇▇▇▇▇ ▇n accordance with Sections 5.5 and 5.6.

Profit Split. Evidence that the existing profit split payment withheld by the Charterer is paid to the Sellers or settled as follows: i) The Charterer has paid the USD 534,000 to the Seller, K/S Danskib 78, relating to m.v. Nordic Bothnia (such amount being payable when the memorandum of agreement on the Vessels is signed and deposit placed); and ii) The profit split payment relating to m.v. Nordic Barents is related to the dispute concerning an amount of approx. USD 1,000,000 between the Charterer and its sub-charterer. The dispute shall be settled before the first Utilisation, subject to the approval of the Agent, and the profit split due to the Seller, K/S Danskib 80 shall be paid prior to the first Utilisation. Alternatively, if the dispute has not been settled prior to the first Utilisation, the profit split shall be finally settled by the payment of USD 200,000 from the Charterers to the Sellers at that date, and evidence shall be provided on that date, that a transfer has been made. New Time Charterers

Profit Split. The Lease will provide that when Developer sells any Restaurant developed pursuant to this Agreement (“Restaurant”) and/or assigns the landlord’s interest in such Lease, (collectively, the Restaurant and Lease are sometimes called the “Property”), Developer will pay half of any “Excess Profit” to Granite City upon closing of the sale. Excess Profit is defined as the amount of the sales price for the Property in excess of the sum of “Expected Sales Price” and Costs of Sale. “Costs of Sale” means customary costs incurred to sell the Restaurant Property inclusive of transfer taxes, recording costs, title costs, due diligence costs incurred by Developer under the purchase agreement, brokerage commissions and legal fees. The Developer may select a related party as the broker for such sale. The Expected Sales Price is the annual Base Rent (as defined in the Lease) on the day the purchase agreement for the Property is fully executed divided by 8.25%. For example, a Restaurant that cost $2,450,000 would be leased to Granite City at 9.5% of the cost, or $232,750 annually. The terminal cap rate of 8.25% would imply an Expected Sales Price of $2,821,212 (i.e. $232,750/8.25%). The excess of any sale price above $2,821,212 would be split 50/50 between United and Granite City. If, for example the building sold at a cap rate of 7.5% or $3,103,333 (i.e. $232,750/7.5%) then each party would split the excess profit of $282,121 (i.e. $3,103,333 - $2,821,212). Any loss on the sale of a property would be borne solely by Developer.

Profit Split. Subject to the terms and conditions of this Agreement, the Parties agree that the net profits generated from the operations of the Done-For-You Digital Storefront(s) will be split on an eighty/twenty (80/20) basis ("Profit Split" or “Split”).

Profit Split. Commencing upon the First Commercial Sale of any such Product in the Territory, Celltrion shall pay Abpro fifty percent (50%) of the Profit, however, Celltrion shall retain eighty percent (80%) of the Profit until the total aggregate sum of all Profit Split retained by Celltrion in excess of fifty percent (50%) under this Section 5.4 equals to two hundred and fifty percent (250%) of the Celltrion Development Costs. Once the total aggregate sum of all Profit Split retained by Celltrion in excess of fifty percent (50%) under this Section 5.4 equals to two hundred and fifty percent (250%) of the Celltrion Development Costs, Celltrion shall pay Abpro fifty percent (50%) of the Profit. Such amounts shall be payable commencing from the First Commercial Sale for so long as there are Net Sales of such Product. All payments due to Abpro under this Section 5.4, subject to the loss carryforward described in the “Profit” definition, shall be due and payable by Celltrion within sixty (60) days after the end of each Reporting Period, and shall be accompanied by a report as set forth in Section 6.3.

Profit Split. Commencing upon the First Commercial Sale of any such Product in the Territory, Celltrion shall pay Abpro fifty percent (50%) of the Profit, however, Celltrion shall retain seventy-five percent (75%) of the Profit until the total aggregate sum of all Profit Split retained by Celltrion in excess of fifty percent (50%) under this Section 5.4 and Third Party Collaborator Income retained by Celltrion in excess of fifty percent (50%) under Section 5.6 equals to eighty seven and a half percent (87.5%) of the Celltrion Development Costs. Once the total aggregate sum of all Profit Split retained by Celltrion in excess of fifty percent (50%) under this Section 5.4 and Third Party Collaborator Income retained by Celltrion in excess of fifty percent (50%) under Section 5.6 equals to eighty-seven and a half percent (87.5%) of the Celltrion Development Costs, Celltrion shall pay Abpro fifty percent (50%) of the Profit. Such amounts shall be payable commencing from the First Commercial Sale for so long as there are Net Sales of such Product. All payments due to Abpro under this Section 5.4, subject to the loss carryforward described in the “Profit” definition, shall be due and payable by Celltrion within sixty (60) days after the end of each Reporting Period, and shall be accompanied by a report as set forth in Section 6.3. 5.5 [NOT USED]

Profit Split. The Parties hereby agree to amend Section 3.1 of the Joint Venture Agreement by inserting the following into Section 3.1 thereof immediately to precede the first sentence of Section 3.1: The provisions of this Article III shall only apply to the sharing of earnings and losses by the Parties after December 31, 1995.