20% of our Profits, will be given back to our priceless Members

The current Member Profit Share Scheme will run from 1st August 2014 to 31st July 2015. The terms of which are laid out here. They are final and unchallengeable.

RooM agrees to pay a 20% share of its annual profit, if any, to it's Members, based on their gross earnings for the period in question, as a percentage of all Member earnings.

To qualify for a percentage of any profit made by RooM, the RooM Member must not have given notice to cancel their RooM Agreement by 7th October 2015, as this is when payments will be due, according to the current schedule.

Any payment due to the Member will be made with the October Royalties Payment run - which is planned for 7th October 2015.

Profit is defined as Earnings before Interest Received, Taxes and Amortization. This will be calculated and certified by an externally appointed Accountancy Firm, as selected by RooM. Their calculations will determine the amount to be paid out by RooM, if any and will be final.

Earnings in the Member Profit Share Scheme will be based on each Members Gross earnings for the financial year, calculated as a percentage of overall profits.

For example:

If RooM makes a profit of £3m during this period, it will share 20% of that with its Members.

In this case RooM would give £600,000 back to its Members.

If Member A has earned, throughout the period, 0.8% of the total Member earnings (this would be calculated on their total Gross earnings, as made between the dates of 1st August 2014 and 31st July 2015), then they would be entitled to a year end bonus of £4800, which would be added to their royalty payment due early October 2015.

This Member Profit Share Scheme will run for the financial year 1st August 2014 to 31st July 2015. If the shareholding or circumstances of RooM change significantly, RooM has the right to cancel the Scheme with 30 days notice given at Profit Share on the RooM website (an email will also be sent to any qualifying Member to the email address RooM has on file at the time).

If the Scheme is canceled early, Members will still qualify for payment as long as they have not served notice to leave RooM as a member 67 days after termination of the Member Profit Share Scheme is made by RooM.

Payments due to each Member, upon cancellation, will be calculated in the following way, if early cancellation is made:

If, for example, 5 months into the Member Profit Share Scheme, RooM cancels it, this would mean that the Scheme would effectively be canceled at 6 months (5 months in, plus 1 month notice). RooM will then ask it's externally appointed Accountants to calculate profit and certify it at that time. If there was any Profit to be distributed as part of the Scheme, this would be done so in a similar way to a financial year end payout, at the same rate of 20%.

Payment, if any, would be made within 37 days of the end of the period, equal to the sum due each Member. This sum would usually be posted on the Member account around 30 days after the end of the period. Calculations would be, as with a full year, based on Members Gross earnings as a percentage to total earnings by all Members during the qualifying period.

Any dispute arising from this Agreement must be dealt with in the same way that any other dispute is dealt with as part of RooM Agreements, as shown in The Content Supply Agreement and Terms of Use. This Agreement does not form a separate Agreement in opposition or conflict with any term or condition as laid out in the following Agreements:

Content Supply Agreement
Terms of Use
Privacy Policy

If there are discrepancies between any of the Agreements in relation to the Member Profit Share Scheme, this Agreement will always override and prevail.

By becoming a RooM Member you agree to these terms and accept them in full. Upon termination of your RooM agreement you waive your rights to participate in any Member Profit Share Scheme and as laid out here, any benefit from such a Scheme. You also agree not to take any legal action, in any form, against RooM in relation to the terms of this Agreement at any time whatsoever, as a Member or otherwise. All other rights you have, remain unchanged.

The terms of this Agreement may change from time to time. It is each Members responsibility to check the terms as laid out here.