No plan or trust which contains any one of the following provisions
shall be deemed to meet the requirements of a bona fide profit-sharing
plan or trust under section 7(e)(3)(b) of the Act:
(a) If the share of any individual employee is determined in
substance on the basis of attendance, quality or quantity of work, rate
of production, or efficiency;
(b) If the amount to be paid periodically by the employer into the
fund or trust to be distributed to the employees is a fixed sum;
(c) If periodic payments of minimum amounts to the employees are
guaranteed by the employer;
(d) If any individual employee's share, by the terms of the plan or
trust, is set at a predetermined fixed sum or is so limited as to
provide in effect for the payment of a fixed sum, or is limited to or
set at a predetermined specified rate per hour or other unit of work or
worktime;
(e) If the employer's contributions or allocations to the fund or
trust to be distributed to the employees are based on factors other than
profits such as hours of work, production, efficiency, sales or savings
in cost.
