Lockrey has three types of profit sharing programs that are used to distribute profits to the people that generate them and provide motivation to ensure profitability in the future. The following is a brief description of each program.


The company profit sharing plan is a government approved (qualified) plan, which provides a retirement savings for each associate participating in the plan. Each contribution made by the participant is placed in a separate account plus all future earnings are available to the participant as retirement savings.


The Associate Bonus Distribution Plan is unique to Lockrey Manufacturing. The Lockrey Bonus Plan in conjunction with the Profit Sharing and Employee Ownership Plan (ESOP) pays out a percentage (% subject to Management discretion) of the company's profits to all eligible associates. The rewards an associate attains from the bonus program are based on each individual's performance as evaluated by their peers and by management.


The Employee Stock Ownership Plan (ESOP) provides a retirement savings for each associate participating in the plan. Contributions made by the participant purchase equity in the Company. The shares purchased will be redeemed at retirement at the current value plus the added value of the company.