PROFIT SHARING POOL (Sr. Executives and Higher)
Higher Qualifying Ranks of Senior Executive and higher are eligible to receive a percentage of the COMPANY's quarterly net profits. 10% of all quarterly net profit earnings are entered into a pool, for all qualifying Ranks within that pool to share, payable on the 15th of day following the close of the quarter.
All qualifying Senior Executives will be eligible to share 2% of NovaTech's quarterly profits.
All qualifying Junior Directors, Directors, and Senior Directors are eligible to share 3% of NovaTech's quarterly profits.
All qualifying 1-Star and 2-Star Ambassadors are eligible to share 5% of NovaTech's quarterly profits.
If only person in that pool, then that member is eligible to receive all profits within that pool. Profit pools cannot be combined.
Example: 1st Quarter Company Net Profits = $ 100,000 x 10% = $ 10,000
- $ 10,000 would be distributed as follows:
- $ 2000 to be shared by all qualifying Sr Executives
- $ 3000 to be shared by all Directors
- $ 5000 to be shared by all Ambassadors