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Profit-Sharing Plan

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					This is a document that outlines a company’s profit sharing plan with its employees.
Companies can implement this plan to provide incentives to their employees to excel in
their job performance. The plan outlines management details, payment of incentive
awards, and provides details of the profit sharing payments. This document should be
used by small businesses or other entities that want to implement a profit sharing plan in
order to provide employees with incentives to increase their work production.
                                PROFIT SHARING PLAN
1.00   PURPOSE OF PROFIT SHARING PLAN

1.01   The purpose of this Profit Sharing Plan (the “Plan”) is to ____________________
       [PROVIDE DETAILS OF THE PLAN] and to promote the financial well being of
       ___________________ [PROVIDE NAME OF THE COMPANY] (the “Company”)
       any all of its affiliates and subsidiaries.

1.2    The Company intends to carry out the purposes of the Plan by doing the following:

         (a) by recruiting and hiring highly skilled employees with areas of expertise relevant to
             the Company;

         (b) by providing incentives to its employees to excel in their job performance; and

         (c) by providing incentives which are comparable and competitive with other
             companies doing business of similar nature as the Company.

1.03   The Company intends to implement the Plan to assist the Company in achieving all of the
       goals and objectives contained herein.

2.00   MANAGEMENT OF THE PLAN

2.01   The Company shall be responsible for the management of the Plan or shall appoint a
       qualified individual to manage the Plan for the Company.

2.02   The Company shall also appoint certain individuals who will sit on a Committee to assist
       with the decisions, interpretation and administration of the Plan (the “Committee”). Any
       decisions or resolutions of the Committee shall be final and binding upon any Party
       participating in the Plan. The Committee and the Company shall not be held liable--to
       the maximum amount permitted by law--by any Party participating in the Plan for any
       action, decision or resolution which is made or implemented by the Company or the
       Committee in respect to the Plan or any and all incentives, grants, awards or profit
       sharing payments which are disbursed under the Plan.

2.03   Any Party who participates in the Plan shall not, at any time, assign or transfer the right
       granted to such Party under the Plan without the express written consent of the Company.

2.04   In the event a Party to the Plan leaves his or her employment with the Company during
       any Calendar Year, any and all amounts of any incentives payments which may be due
       and owing to such Party will be based on the amount of such Party’s compensation that
       he or she receives during any one Calendar Year (as defined below, in clause 3.01(a)).



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2.05   The Company shall have the right, at any time, without notice to any Party to the Plan, to
       amend, modify or cancel the Plan as it deems appropriate or necessary.

2.06   In no way does the Plan form any part of any employment agreement or contract of
       employment and any Party participating in the Plan shall not be exempted from his or her
       employment being terminated by the Company.

2.07   The Plan shall be governed in accordance with the laws of the State of ___________
       applicable therein and as amended from time to time.

3.00   DEFINITIONS

3.01

(a)    “Calendar Year” shall mean the period commencing on January 1st in each year and
       ending on the 31st day of December in each year;

(b)    “Financial Objectives” shall mean the financial goals of the Company from Calendar
       Year to Calendar Year;

(c)    “Incentive Award” shall mean any and all monetary amounts which are granted or
       awarded to any Party;

(d)    “Incentive Opportunity” shall mean the monetary amount which is determined by the
       Company or the Committee at the commencement of any Calendar Year which a Party
       may receive under the Plan;

(c)    “Party” shall mean any person or persons who are participating in the Plan during any
       Calendar Year and who are employed as a full time employee of the Company;

(d)    “Profit Sharing Objectives” shall mean the Financial Objectives of the Company and any
       of its affiliates or subsidiaries in any Calendar Year; and

(e)    “Profit Sharing Payments” shall mean the monetary amount to which a Party is entitled in
       any Calendar Year.

4.00   PAYMENT OF INCENTIVE AWARDS

4.01   Any Party who is eligible to receive an Incentive Award shall be determined by the
       Company by no later than _______________ [PROVIDE A DAY AND MONTH] in
       each Calendar Year by the Company.

4.02   In the event a Party’s employment is terminated with the Company duri
				
DOCUMENT INFO
Description: This is a document that outlines a company’s profit sharing plan with its employees. Companies can implement this plan to provide incentives to their employees to excel in their job performance. The plan outlines management details, payment of incentive awards, and provides details of the profit sharing payments. This document should be used by small businesses or other entities that want to implement a profit sharing plan in order to provide employees with incentives to increase their work production.