Abstract Aoki's profit-sharing firm organization is associated with the option evaluation model of investment. The firm is endowed with a shut-down option it can exercise when the market price, assumed to be uncertain, falls below a certain trigger level. The distributive parameter is the result of a bargaining process and is influenced by the shut-down option. Workers can delay the firm's shut down by sharing not only profits but also losses. In that case, the workers’ policy changes both the optimal distributive parameter and the trigger price in a nontrivial way. The overall result implies an increase in the profit share going to shareholders as compared to Aoki's original finding.