Mike, open the profits program up to more than 25 people. I don't think you have a good reason to do otherwise, aside from the obvious (bad).
Ofcourse he has a good reason. The more people can join, the more money he has to make to keep all satisfied. Unless you want to share your part with others, that is.
I presume that someone asking to open up a profit sharing program is because he is *not* in yet...