Evening journal., 1917-04-25

upon actual knowledge and upon in
formation and belief aver that the said
plan of making such distribution has
been Of incalculable advantage to the
said 70. l. DUPONT de Nemours Powder
Company and its stockholders in Sc
curing faithful and efficient service on
the part of such employees, and that
such plan was devised and put into
operation solely for the purpose Of
benefting the said company and its
stockholders, through giving to its
employees increased interest in its
business and an incentive TO make the
said business profitable and remuner-
ative. When on the said first dav OF
October 1915. the said e. /. DUPONT dc
Nemours and Company succeeded to
the business of the said New Jersey
corporation It adopted and continued
the said profit sharing plan and has
continued the same in operation with
such notifications therein as from
time to time seemed necessary and
desirable until the present time. The
Bonus Plan of the said company as
published and distributed among its
employees at the time of its adoption
is as follows:
"E. I, DUPONT de Nemours and Com
pany has adopted the policy OF reward
ing In a special manner those OF its
employees who have contributed in an
unusual degree to the success OF the
company by their inventions ability,
industry and loyalty-a result which
frequently cannot be accomplished
through salary alone. It also desires
to interest such employees as stock.
holders In its business, and according
ly has adopted the following Bonus
Plan:
Bonus Plan.
/. Bonuses, consisting of stock of
this company, may be granted to en-
ployes who have contributed in an
unusual degree to the success of the
company by their Inventions ability,
industry and loyalty, and whom IL is
deemed desirable 20 have Interested
in the business as stockholders.
Awards Will be made under one or
both of the following classes:
Class "a" Bonuses Tor inventions
or other conspicuous service shall be
granted, entirely irrespective OF the
cOmpany's earnings, each case being
considered on its merits without re-
gard to departmental lines or liluita-
tions as to length of service.
Glass "B." Bonuses in the nature
of proft-sharing with those who have
contributed most IN a general way to
the Companys success shall be grant
ed in accordance with the following
conditions
(a) The total value OF stock a. ac-
tual cost to the Company, which may
be awarded each year under Class
"B,'' shall be approximately z per cent.
OF the surplus left from earnings after
the payment Of debenture stock divi-
dond and s per cent. dividend on the
common stock.
(b) No award shall be made 10 an
employe under Class "B" unless on
January first OF the year in which the
bonuses are awarded he has been in
the employ OF the company at least
two years. Exceptions in special cases
to this rule as TO time of service may
be made IL approved by an affirmative
vote of thrce-fourths OF the Executive
Committee.
2. Bonuses shall be awarded dur
! ing the month of February Of each
year. An award shall vest in the bene
ilciary all the rights OF stockholdcI
IN the stock awarded, subject only to
the right of The Bonus Trustee to the
! possession of the stock certificate rs
hereinafter provided. and to the right
OF the company TO have that portion
OF the stock represented at the .ime
| by the debit balance OF his account
revert TO the company, as provided in
Section 5 hereof, in case the beuefci-
airy leaves the service or is dismissed
as provided therein.
Recommendation for bonuses shall
be made by the heads Of departments,
and shall give the name and charac-
ter OF duties Of each employe recon-
mended, the amount of bonus recon-
mended, the reasons thereof. and the
name OF the officials approving the
same. These recommendations shall
be acted on by the Executive Commit.
tee. except that any bonuses recon-
lmended for individual members Of the
| Executive Committee shall be acted on
by the Finance Committee.
3. The Executive Committee shall
/ appoint a Bonus Trustee, who shall
! have the management of all matters
relating to bonuses granted
When bonuses are awarded a certif
cate for the number of shares allotted
/ to. each beneficiary shall be issued in
/ his name and delivered 70 the Bonus
/ Trustee (Which delivery shall b.
taken as delivery TO the beneficiary
who shall hold the certificate until the
same are finally delivered 10 the bene
/ iloiary, as provided in Section here
or
4. The Bonus Trustee shall Cper
an account with each beneficiary
charging him with tho par value o
the stock awarded and crediting hin
each month, beginning with Januar,
of the year in which the award ii
made, with One-sixtieth of its pa
value. When the credits so made eQua
the debts the Bonus Trustee shall de
liver to each beneficiary who has re
NAMED continuously in the company
employ during that period the salt
certificates of stock free from all re
strictions.
8. II a beneficiary leaves the SCI
vice Of the Company of his own vol
ton, or is dismissed because Of IN
satisfactory service (the Executiv
Committee 10 be the sole Judge as L
whether the reasons for dismissal ar
; sufficient to constitute unsatsfactor
service) that portion OF his bonus rC
presented at the time by the deb
balance IN his account shall revert {
the company. and a certificate for th
portion of his bonus represented b
the total credits in his account shal
J be delivered TO the beneficiary. FIRE
from all restrictions. provided. how
. ever. that no fractional share shall n