In 2007 Love's will contribute nearly $15 million in profit sharing to Love's Salaried Management. Love's Shares is an incentive plan designed to retain Salaried Managers by providing an opportunity for additional incentive compensation based upon the long-term success of Love's Travel Stops & Country Stores, Inc.
Participants receive a quarterly statement showing account activity, total value, and vesting information. Eligible employees are granted a right to participate in the quarterly Store Operating Profit of the Love's store in which they work. Each Love's Share will qualify its owner to share in one percent (1%) of the Store Operating Profit.
| Participants |
% of Store Operating Profit |
| C-Store General Managers |
3.00% |
| C-Store District Managers |
1.50% |
| I-Stop General Managers |
2.00% |
| I-Stop Assistant Managers |
1.00% |
| I-Stop District Managers |
0.50% |
| I-Stop Restaurant General Managers |
1.00% |
| I-Stop Restaurant Assistant Managers |
0.50% |
The cumulative value in each participant’s Love's Share Account Balance shall become vested in accordance with the following vesting schedule:
| Years of Service |
Vesting Percentage |
| Less than 3 |
None |
| 3 but less than 4 |
20% |
| 4 but less than 5 |
40% |
| 5 but less than 6 |
60% |
| 6 but less than 7 |
80% |
| 7 or more |
100% |
The Love's Shares Program gives store management an opportunity to share in the profitability of their store, Love's as a company and put aside money for their own future.