IMPORTANT INFORMATION
Think of the Employee Ownership Program like the seeds of an orange tree that's been given to you as a gift. The seeds, or BPC Shares, don't cost you any money, but they have the potential to give you something very special as your time with BPC goes on! At the start of the program, your seeds will be small. But over time, if you take care of them, they'll sprout deep roots in the fertile soil you create here at BPC - and that is how you will help the value of your seeds, or "Company Shares," begin to increase!
When you own SHARES (also known as "equity") in a company - in this case, Boudreau - it is a type of security that signifies part ownership in the company. This part ownership entitles the shareholder (or, in this case, the employee) to that portion of the company's assets and earnings.
Because you are an Employee Owner, this means that you will also have a responsibility to help take care of the company. This means that you need to be smart and work hard! Don't let waste and carelessness hurt your hard work. Pay attention to your actions and encourage those around you to be responsible with Boudreau, too! We give you the seed to plant, but your hard work is what grows the tree!
Every year, an independent appraiser audits and values the company based on our performance and financials. This means that the more efficient and profitable the company has been, the higher the share value of the company will be.
Because our Employee Ownership Program is brand new, our share price is still fairly low - what's known as "penny shares." But as the company grows in value, and your time with Boudreau continues, you can think of it like your orange seed growing into a beautiful tree, eventually coming to bear lots of fruit!
It's up to the independent appraiser to determine the company's value based on our performance and financials, it's up to all of us - the Employee Owners - to make sure the company continues to perform at its best. And the best way to do this is to work hard, be responsible with our time and equipment, and encourage those around us to do the same!
BPC Shares get allocated on a point system, based on years of service and compensation. This means that you get 1 point per year of service at BPC, plus 1 point for every $5,000 of compensation that you earn.
For example, if you've worked here for 10 years, and you make $50,000 per year:
10 years = 10 points
$50,000 / $5,000 = 10 points
10 + 10 = 20 points allocated to you!
Shares will be pro-rated based on the total number of available shares, divided by the number of points issued to each employee.
After you've been with Boudreau for two years, you will begin receiving BPC shares at a rate of 20% vesting per year. After your 6th year with Boudreau, you will be "fully vested," which means you will be receiving 100% of your shares! There is absolutely no cost to participate in the Employee Ownership Program, other than your time with the company and your hard work! As an Employee Owner with stock in Boudreau Pipeline, you simply get to share in the wealth that you are helping to create!
Each year, employee owners will receive formal financial statements of their account and the amount of BPC shares they have, usually around June. These reports will show BPC’s share value after END OF YEAR audits have been conducted, and will also show if the share value has gone up or down from year to year.
You are entitled to receive distribution on your account at retirement age. If participant leaves or is terminated before retirement (or death/per disability), then the participant will receive their vested shares according to the schedule in the “Plan Document”
Since the seed was given to you as a gift, you don't have to contribute any money to earn a return on this investment. All you have to do is what you've already been doing: continue working hard for Boudreau, and doing your best every day.
Then, when you're ready to retire from your position with the company, your seed will have matured into a tree - and the company will buy back your shares, adding to your retirement funds as a final thank you for your service to BPC.
"VESTING" is the process of accruing non-forfeitable rights.
After you've been with Boudreau for two years, you will begin receiving BPC shares at a rate of 20% vesting per year. After your 6th year with Boudreau, you will be "fully vested," which means you will be receiving 100% of your shares! There is absolutely no cost to participate in the Employee Ownership Program, other than your time with the company and your hard work! As an Employee Owner with shares in Boudreau Pipeline, you simply get to share in the wealth that you are helping to create!
The longer you work at Boudreau, the more shares you will receive. And the better care you and the other employees take of the company, the more the value of the company will grow! So, be sure to encourage those around you to work hard and take just as much care of the company as you do!
