Evening journal. [volume] (Wilmington, Del.) 1888-1932, 1918-02-25

% bonus to be giycl to any employees
should be recommended by the head
OF the department in which he was
employed and by tho Finance Com
mittce. and approved by the Exec
utive Committee. that no member OF
the Executive Committee should IN
any event be entitled so any bonus.
that the bonus paid should be suiii
GENTLY large to make Il an Incentive
20 the employee Z obtain IL, and
should not be less than ten shares OF
stock and that all bonuses should DO
paid I'm common stock.
and the Board OF Directors OF the
old Company for more than a year
before its adoption IN February.
1895. Its purpose WAS explained IN
It's preamble. which reads as follows;
Whereas. Il IS the desire Of this
Company 90 recognize the exceptional
merit of IFS employees, and likewise
Co encourage such employees 10 fur
thor efforts in is behalf.
This plan was revised and amend
cd from time to time during the
operations of the old Company. Tho
more important changes were as
follows:
Ca) on Juno 4, 1906. question
arose ia the Board Of Directors as 10
the meaning Of the term exceptional
merit" whereupon IL was resolved
"tnat bonuses should be allowed for
the encouragement Of employees who
contribute either by invention. unusual
ability. industry or loyalty. or N any
other marked way to the general good
Of the Company and whom it would
be desirable TO have cn,erested I'm 81
business
OBJ on November 20 1903. the
plan was amended so as TO confer
upon the Executive Committee the
nnai decision as TO granting bonus
awards.
Cc) on January 81, 1911, the plan
was further amended SO as 10 divide
follows:
Awards for inventive or other
conspicuous service.
Edwards in the nature OF profit
sharing with those Of the Company's
employees who have contributed most
TO the Companys success.
II was also provided that the
awards for inventive or other con-
spicuous service should be made en-
.tireiy Irrespective OF the Company's
earnings. but that the total awards
under Glass b should be arrived at by
taking approximately per cent OF the
surplus left from earnings after Il
payment OF bond interest and pre-
ferred stock dividends and per cent.
on the common stock; also that thu
market value OF the stock awarded TO
any employee in any year under Glass
B should in no case be greater than
one-hnlf the annual salary Of such
employee az the time Of making tho
award.
(d) on November 20. 1913, the
per cent provision in the amendment
Of January 81, r9ii, was changed TO
per cent
(e) on February 10. 1918. the
Finance Committee unanimously
adopted resolution recommending
to the Board OF Directors that tho
members OF the Executive Committee
be made eligible TO receive bonus
awards upon recommendation OF the
finance Committee. and that any
awards to them be taken from the
usual bonus allotments. The members
OF the Finance Committee present and
voting Ia favor OF this resolution were
! T. $. dupont, Alfred /. dupont and
william dupont. At that time the
members OF the Finance committee
owned 1913 per cent. OF the Company's
common stock. and none Of them was
a members OF the Executive Commit
tee.
The recommendation OF the Finance
"a o. II
February "a. 1915. and was unanl-
mously adopted. Every member OF the
Board was present and voted m the
affirmative, except +. c. DUPONT who
was absent
90 on March 81. 1915, the Board
of Directors unanimously resolved TO
eliminate the provision OF the 1911
plan which limited the awards 20
amy employee under Glass u
60 one-half Of his SALARY At this
meeting all the Directors were present
except j. A. Haskell and c. L. Patter-
SON.
GO AZ a meeting Of the Directors
of the present Company held Septcm-
Der 90. 1915. the Bonus plan of the
old Company as then existing was
adopted.
th) At a meeting Of the Board held
December 2s. 1915. revision of the
Bonus Plan made by the Executive
Committee was adopted to take erect
January l. 1916 This revised plan
embodied the amendments "e' and
'f' above. II also provided that
bonuses might be paid in tho securi-
ties OF the Company instead Of In It's
common stock only
Under the Bonus PLAN there has
j been acquired and awarded by the
present Company TO its employees the
following securities and cash at the
following cost 20 the Company:
For 1915
class -" Bonuses
10 shares DUPONT Co. Common stock a.. q
100 shares old Company Common Stock nj
Glass "B' Bonuses
i,4a2 shares Common Stock at cost to Co
800 shares neheuturc stock at cost 60
b.e5 shares Pdr 60. Stock az cost 10 q
Cash bonns award ...........
Total for 1918 minimum.
Tor 1910
Class -" bonuses
O91 shares Common Stock az cost to Con
20 shares Debcnturc Stock OF cost TO 4
Class ~ Bonuses
1925 shares Common stock az cost 10 Co
n aNtu Ift.I.. tf