Question 1

Are your plans legally binding?

Accepted Answer

Our plans are built by attorneys and customized by you. Every plan is legally-binding, regularly audited, and created to meet your business's needs. In order to ensure your plan is legally binding, we can help you execute the documents and implement within your business. Though our software was built with guidance from top tier lawyers, we are not a law firm and encourage you to consult with your lawyer.

Question 2

Why do I need the Reins platform? Why can't I just use your template?

Accepted Answer

Reins is an employee-owner management tool that encompasses far more than a single document. Lawyers can charge thousands of dollars for an off-the-shelf template alone, and take a minimum of several weeks to execute. Reins gives you a custom plan in minutes and manages that plan for a fraction of the cost. We're able to keep prices low because we've done the heavy lifting of talking to lawyers, creating a plan, and automating implementation - all packaged into a single platform.

Question 3

What is phantom stock?

Accepted Answer

Phantom stock is a unique form of equity that allows employees to receive a cash payout or share of annual profits when the company reaches a milestone, like a sale of the business or annual dividend.While traditional stock options usually represent actual employee ownership in a company, phantom stock does not. There are other differences too, including that phantom stock doesn't indicate voting rights or liquidity for holders, while traditional stock options often do.

Question 4

What is the difference between phantom stock and profit sharing?

Accepted Answer

The main difference between phantom stock and profit sharing is that the latter is not linked to the company's value or stock price. Profit sharing is often done quarterly or annually, while phantom stock executes once, at retirement or when a sale occurs, for example.Profit sharing is a powerful feature to consider adding to a phantom stock agreement, since it integrates more frequent, shorter-term incentives into your benefits plan.

Question 5

What is your turnaround time?

Accepted Answer

Our technology customizes phantom stock templates in minutes.

Question 6

How can I get in touch with you?

Accepted Answer

Call or text us at (725) 237-5396 between Monday - Friday 9am - 5pm Pacific time if you have questions or would like to get started. You can also email us at hello [@] myreins.com.

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