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Employee Profit Sharing Plan: Scope

The document outlines an employee profit sharing plan policy for SBTJapan. The plan aims to reward all full-time employees equally to foster teamwork and shared goals. To be eligible, employees must complete one year of continuous full-time service. The profit sharing contributions will be distributed to qualifying employees on a quarterly basis. The plan year is 12 months, and employees must be actively employed at the time of payment to receive the award. The policy administration and any amendments are at the sole discretion of SBT management.

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Tahir Jahangir
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269 views2 pages

Employee Profit Sharing Plan: Scope

The document outlines an employee profit sharing plan policy for SBTJapan. The plan aims to reward all full-time employees equally to foster teamwork and shared goals. To be eligible, employees must complete one year of continuous full-time service. The profit sharing contributions will be distributed to qualifying employees on a quarterly basis. The plan year is 12 months, and employees must be actively employed at the time of payment to receive the award. The policy administration and any amendments are at the sole discretion of SBT management.

Uploaded by

Tahir Jahangir
Copyright
© Attribution Non-Commercial (BY-NC)
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
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Employee Profit Sharing Plan

Policy: Employee Profit Sharing

Date drafted: 30th September 2010

Revised Date:

Version #: EPSP/SBP/01/

Scope:

To send a message to all the employees of SBTJapan that we are working together on the
same team. That the employees have the same goals and are rewarded equivalently to
reinforce this shared service to customers and lack of competition with each other and to
provide maximum benefit to SBT employees.

1.1 Eligibility. Every full time employee of SBTjapan who is not compensated under a
sales commission or other bonus compensation plan and who completes a minimum of
one year of full-time continuous service before the end of a Plan Year shall be a
"Participant" in this Employee Profit Sharing Plan ("Plan") for that Plan Year.

1.2 A "Plan Year" shall mean each period from the date which the plan was implemented
following 12 months completion. In order to be eligible for payment for a Plan Year,
the Participant must be an SBT employee at the time of payment of the award.

1.3Distribution of Plan Contributions. Plan contributions will be distributed to


Participants subject to applicable withholding and employment taxes and on
quarterly basis.

1.4If a person moves from one grade to another during a plan year than his share shall
be calculated on pro-rata basis. (Table 1)

1.5If an employee who is otherwise eligible to be a Participant participates in a sales


commission plan or other bonus compensation plan during a portion of the year, that
employee will be entitled to participate in the Plan based upon his/her eligible base
salary which shall be base salary for that portion of the Plan Year in which he/she is
not a participant in a sales or other bonus compensation plan.

1.6SBT shall have no liability to any employee arising out of this Plan as a result of that
employee's termination for any reason prior to the date of payment of the award for
the Plan Year. Plan awards shall not be eligible for retirement or savings plan
participation.

1.7Plan Administration. This Plan shall be effective beginning from January 1st 2011
to December 31st 2011. This Plan may be modified, amended, or terminated at any
time by SBT management. The administration and interpretation of this Plan shall be
the responsibility of the SBT management and solely within its discretion. All
decisions of the management with respect to this Plan shall be final and conclusive.

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