Distributing payments based on net revenues and mutual ratings

From Vermont Virtual

The template operating agreement contemplates that active members may vote to use net proceeds to make payments to active members, who will receive such payments in proportion to the number of rating points they have received during a specified period.

Payments will be treated as payments to independent contractors in consideration of the contributions that have received positive ratings.

Payments will be made out of the virtual company bank account under the supervision of the individual or group that has been granted explicit authority to access the company bank account for such purpose.

Payments to members shall not be made in such a fashion as to render the virtual company insolvent or to interfere with the virtual company's ability to make required payments of fees to Vermont, fees to VVCC or tax payments.