RTW, Inc. 2003 Performance Profit Sharing Plan Description

Summary

RTW, Inc. and its subsidiary have established a 2003 profit sharing plan for all employees. If the company exceeds its pre-tax, pre-profit sharing profit target for 2003, 40% of the excess profit (up to a set maximum) will be distributed to employees as a percentage of their salary. Payments are made annually after the year-end audit. Executive officers and management can also earn stock options, based on the same profit criteria, with grants made annually after the audit. The plan outlines eligibility, distribution method, and timing of payments and grants.

EX-10.8 4 c75465exv10w8.txt EX-10.8 DESCRIPTION OF 2003 PROFIT SHARING PLAN EXHIBIT 10.8 2003 PERFORMANCE PROFIT SHARING PLAN All employees of the Company are eligible to receive cash profit sharing based on the 2003 year-end results of the RTW, Inc. and its Subsidiary. The annual profit sharing plan is based on exceeding the Company's pre-tax, pre-profit sharing profit plan for 2003. Forty percent (40%) of any excess profit over the plan, up to a maximum level, will be shared with all employees. The profit sharing will be distributed as a percentage (%) of salary to all employees. Cash profit sharing payments are made annually after completion of the year-end audit. Executive officers and management personnel, additionally, earn stock options based upon exceeding the company's pre-tax, pre-profit sharing profit plan for 2003. Executives and management personnel are eligible for a fixed number of options, pro-rated on a sliding scale, in excess of the profit plan, up to a maximum level. Stock option grants will be made annually after completion of the year-end audit.