Confirmations Regarding Profit Sharing Participation
- By activating the “Accept” button below, I confirm the following information and statements with respect to my participation in the Keller Williams Profit Sharing program. I understand that if I decline to make the required confirmations, my participation in the Keller Williams Profit Sharing program may be delayed.
- The person I consider my sponsor into the Keller Williams family for purposes of my Profit Sharing participation is the Sponsor specified above. If the person specified above is not my sponsor and I accept this agreement, I acknowledge my responsibility for contacting my Market Center Administrator to make any changes.
- I understand that Keller Williams Realty, Inc. (the “Company”) has no financial interest in my designation of a sponsor and that, in recording my sponsor’s name, the Company merely follows my instructions.
- I understand that I will have no vested interest as a sponsor of any other Keller Williams associate unless and until that person properly designates me as his or her sponsor in accordance with Company policy and procedures.
- I understand that, except for a nominal $20 per year per associate maintenance fee, the Company does not receive any part of a Market Center’s Profit Sharing contributions and does not otherwise share in or benefit financially from Profit Sharing contributions.
- I understand that if the Company is named as a defendant in a lawsuit that questions a participant’s designation of his or her sponsor or otherwise challenges the validity or integrity of a participant’s upline or downline structure, the Company is entitled to deduct its attorneys fees and other defense costs from gross Profit Sharing contributions, with the result that the pool of funds available for Profit Sharing to all participants will be reduced.
- On the basis of these understandings and their consequences, I voluntarily waive and relinquish any right I may have to sue the Company on account of any disagreement over the designation of my sponsor or my status as the sponsor of another participant in the Profit Sharing program, except in cases based on my good faith belief that the Company has acted with actual malice toward me or in willful disregard for my rights.