I’d rather have one tenth of a success, than nine times that of a failure.
The company will make every effort to retain full ownership, but a portion(s) of any size may be sold to help build the company. If more than 50% of the company is sold, there will be dilution for the team. If less than 50% of the company is sold, then the remaining incentive percent will be converted to distribution percent with an instant payout.
This will be meaningful and substantial because of the talent of those involved and their willingness to hope in our success.
In the spirit of keeping our efforts to build the company fair and equitable, the company is offering profit sharing.
A contributor will be compensated by one or more of the following:
All compensation records must be kept on a rolling weekly basis. The company reserves the right to discard records outside of that timeframe. Time tracking reports will be posted for team checks-and-balances on a weekly basis. Hourly rates may be disclosed at the member’s discretion.
In the event that the company becomes profitable, a payment strategy will be put in place to payout profits on a monthly basis. The company reserves the right to payout more frequently. The team receives payout simultaneously. The company reserves the right to payout an amount less than $1,000 on different schedule, but no less than annually.
The member distribution percent is fixed to ensure that others are compensated fairly. Member protection: In fairness to the member and the intent of this unique profit sharing model, the member distribution percent will grow to that of the largest single contributor in the event that their relative compensation is above the member distribution percent.
In all events, with the exception of member protection, the team distribution percent will grow or shrink without dilution.
The company will make every effort to end the contribution period and operate as a cash-based company. The team will receive payout at their respective hourly rate(s) from operating capital.
In the event that the company is on lockdown and it can not or should not continue operations, the company will dissolve. Equipment and otherwise will be liquidated as profit. Profits will payout immediately.
Survivorship of the profit share will pass down per the applicable will and testament.
The company will make reasonable efforts to be fair in all matters.