Article 19: Profit Sharing

Section 19.1:

A. For purposes of this Article, the "Plan" refers to the Company's Profit Sharing Plan.

B. All bargaining unit employees are eligible for participation in the Plan.

C. Once an employee has attained eligibility, he/she must work One Hundred Twenty (120) hours per calendar month to receive a profit share for the month. Paid leave and Sabbatical shall count towards hours worked.

Section 19.2: Profit Sharing Formula

A. Profit Sharing is based upon operating profits (profits before interest and taxes).

B. Payments shall be made quarterly on the following basis:

December, January, February Payable in March
March, April, May Payable in June
June, July, August Payable in September
September, October, November Payable in December

C. The Profit Sharing pool will be paid out on profits earned as defined above in paragraph "A". There must be an initial threshold profit of $825,000 earned by the Company in any one month, to then be incrementally increased in $20,000 segments up to a maximum of #3,100,000 (see schedule below for illustration).

Threshold Profit Pool
$ 825,000 $20,000
$1,000,000 $40,000
$1,175,000 $60,000
$1,350,000 $80,000
$1,525,000 $100,000
$1,700,000 $120,000
$1,875,000 $140,000
$2,050,000 $160,000
$2,225,000 $180,000
$2,400,000 $200,000
$2,575,000 $220,000
$2,750,000 $240,000
$2,925,000 $260,000
$3,100,000 $280,000