Loots: Any non rare item will be given to the person who MVPs the Boss.
Rares: All rares will be given to me, the guild leader for distribution or vending and the profits of those items will be divided between anyone who showed up for the MVP party and helped with the killing of the MVP.
Payment: All attende's of the MVP are normally gaurenteed a form of zeny or item payment for helping. The only time you will not be paid for helping is when the loots of the MVP were only Elu/Ori/OBB or something along the lines of 'junk' MVP drops.