﻿DETAILED ACCOUNT OF VARIOUS SCHEMES.

33

“ The nominal amount of the Partnership Certificates to be distributed
amongst all the persons specified in this sub-clause (herein called 1 the
Management Class ’) shall not exceed in the whole one-fourth of the total
nominal amount of the Partnership Certificates for the time being
authorised to be issued.

“ (c.) The Salesman Glass.—An employee who is a Manager of a Selling
Branch, a Head Traveller, Head Salesman, Assistant Traveller, Assistant
Salesman, Advertising Manager, Head Inspector, or Superintendent of
the ‘ door to door ’ selling, demonstrating, or other like advertising force,
may receive Partnership Certificates for a nominal amount determined
by the scale and within the limits of the following Table: —

Maximum
Nominal Amount

Table II.	of Partnership

Certificates.

£

Where annual salary is £750 or upwards	...	...	3,000

Where annual salary is less than £750 and not less

than £500	  2,000

Where annual salary is less than £500 and not less

than £300	  1,200

Where annual salary is less than £300 and not less
than £200	...	...	...	...	...	800

Where annual salary is less than £200 and not less

than £100	  400

Where annual salary is less than £100	...	...	200

“ The nominal amount of the Partnership Certificates to be distributed
amongst all the employees specified in this sub-clause (herein called ‘ the
Salesman Class’) shall not exceed in the whole one-fourth of the total
nominal amount of the Partnership Certificates for the time being
authorised to be issued.

“ (d.) The Staff Glass.—Any employee, being a member of the Staff and
not included under any of the foregoing Classes, may receive Partnership
Certificates for a nominal amount determined by the Scale and subject
to the limits of the following Table: —

Table III.

Where annual salary is £200 or upwards
Where annual salary is less than £200 and not less
than £100

Where annual salary is less than £100

Maximum.
Nominal Amount
of Partnership
Certificates.

£

800

400 .

200

“ The nominal amount of the Partnership Certificates to be distributed
amongst all the employees specified in this sub-clause (herein called the
Staff Class ’) shall not exceed in the whole one-fourth of the total nominal
amount of the Partnership Certificates for the time being authorised to be
issued. Provided that the Holder of the Majority Shares of the Company
shall, if he so think fit, be entitled to cause Partnership Certificates to
be issued to any of the persons specified in this Clause in excess of the
■maximum nominal amounts above set forth.

“ No person shall be qualified for the time being to receive Partnership
Certificates under more than one Class.

“8. A director or employee may only receive Partnership Certificates,
if and so far as the Trustees shall be in a position to issue same to him,
having regard to the limits of the total nominal amount of Partnership
Certificates wdiich may be issued under the Scheme, and to the limits
imposed by the last preceding clause as to the maximum nominal amount

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