Eastern had not turned a profit since 1959. To reduce costs, Borman convinced employees to accept a wage freeze in 1976, with an eight percent raise in 1977, and then a five-year Variable Earnings Program (VEP). Under the VEP, employees contributed 3.5 percent of their annual salaries to a special profit insurance fund. If Eastern did not achieve a two percent return on each revenue dollar, the fund was used to make up the difference. If the company did earn more than two percent, the excess money was returned to the employees, who could earn back up to twice their contributions. To get his changes through, Borman visited the airline's facilities in 28 states to bring his proposals to his employees.