Denny,
No it wasn't compensation for past sacrifices. It was the best we could do for future compensation based on a very weak hand we were dealt post-bankruptcy. We would've opted for fixed pay increases if we would have had the negotiating leverage.
I understand you value the insurance as a "bonus". Nothing wrong with that. What that insurance is worth is the question. The value changes with the business cycle. Are you willing to pay the premium when risk changes? That is the question.
Profit sharing is a tool in which its value changes in the business cycle. We should look to monetize when its value is high and likely to be lower in the future. We can initiate it when its value is low and likely to increase in the future. It isn't good or bad. I'm saying I think it is a good time to capture value and reduce risk.