Product Description

NE0211 PROFIT SHARING PLAN FOR FREELANCING OR SELF-EMPLOYED PERSONNEL TEMPLATE – ENGLISH

Product description

This is a template of a Profit Sharing Plan for Freelancing or Self-Employed Personnel in English.

We also have an Arabic version with template number NA0211.

Why you should buy this template?

This is a highly detailed, well-structured and comprehensive profit sharing plan. It includes an inexhaustible number of clauses and any possible terms and conditions that can be tailored to the requirements of any Employee and/or Employer.

The language is quite clear and focuses on each and every point with a lot of depth. The main points of this Plan are meant to act as a safety net for profit sharing for both self-employed individuals and Employers of such individuals.

Template content  

This template includes the following sections:

PREAMBLE

1. INTRODUCTION AND DEFINITIONS

1.1.      Introduction:

1.2.      Definitions:

2. SERVICE ACKNOWLEDGEMENT AND CONTRIBUTION

2.1.      Hours of service:

2.2.      Service:

2.3.      Break in Service:

2.4.      Loss of Service:

2.5.      Multiple Businesses and Trades:

2.6.      Partnership Structure under this Plan:

2.7.      Termination of Participation, Service and Reinstatement:

3. CONTRIBUTIONS

3.1.      Contributions by Employer:

3.2.      Voluntary Participant Contributions:

3.3       Non Voluntary Participant Contributions:

4. DISTRIBUTIONS AND INDIVIDUAL ACCOUNTS

4.1       Formation of Individual Accounts:

4.2.      Allotment of Contributions for Employer

4.3.      Allotment of Profits and Losses:

4.4.      Forfeiture Allotments:

4.5.      Notices to Participants:

5. RETIREMENT/SEVERANCE

5.1.      Benefit:

6. DEATH/EXPIRATION

6.1.      Designation of Legatee/Beneficiary:

6.2       Benefit:

6.3       No Beneficiary/Legatee:

7. DISABILITY

7.1.      Benefit:

8. TERMINATION OF SERVICE, AND FORFEITURES

8.1.      Eligibility:

8.2.      Benefit:

8.3.      Forfeitures:

8.4.      Early Retirement/Severance:

9. DISTRIBUTION NOTIFICATIONS AND PAYMENT SYSTEMS

9.1.      Notification to Trustee:

9.2.      Consequent Notifications:

9.3.      Time and Methods of Payment:

9.4       Payment Limitations:

9.5       Minority and Debility Payments:

10. GOVERNMENT LEGAL REQUIREMENTS

10.1    Limitations on Yearly Additions.

10.2    Restrictions In The Case Of a Top Heavy Fund:

11. MANAGEMENT / ADMINISTRATION

11.1.   Appointment of Committee:

11.2.   Committee Powers and Duties:

11.3.   Claims Procedure:

11.4.   Procedures Undertaken by the Committee:

11.5.   Authorization of Benefit Payments:

11.6.   Payment of Expenses:

11.7.   Unclaimed Benefits:

12. TRUST FUND

12.1.   Establishment of Trust Fund:

12.2.   Payment of Contributions to Trust Fund:

13. AMENDMENTS

13.1.   Right to Amend:

14. WITHDRAWAL AND TERMINATION

14.1.   Transfers of Plan Assets and Mergers:

14.2.   Plan Termination:

14.3.   Suspension and Discontinuance of Contributions and Plan Termination:

14.4    Liquidation of Trust Fund:

15. GENERAL PROVISIONS

15.1    Non-guarantee of Employment:

15.2    Manner of Payment:

15.3    Non-alienation of Benefits:

15.4    Amounts Returnable to the Employer:

For whom is this template designed and for which country?

This template is designed for English speaking countries.

Template Category: Legal

Skills used in designing this template: Legal writing expertise.

Price:  The normal price of this template is 2100 USD, you can get it now for 210 USD.