- 6 -
13.1 Draw. During the first four months (4)
of employment under this Agreement, Employee will
receive a non-recoverable draw on commission in the
amount of $5,000 per month (“Draw”). In months five
(5) and six (6), Employee will receive a non-
recoverable monthly draw of $2,500. Subsequent to the
6th month, draw will be recoverable month to month,
which amount shall be paid in biweekly installments
during the course of Employer’s regular payroll
periods.
13.2 Draw Record. Employer shall maintain a
record of all Draws taken by Employee for the purposes
of recouping Draws from commissions as they are earned
by Employee (“Draw Record”);
13.3 Monthly Gross Income Calculations. At or
around the 15th day of each month, Employer shall
determine the amount of gross profit on paid invoices
generated from Employee’s sales in the previous
calendar month. Employee will be allocated a
commission amount equal to 25% of such gross profit
amount (“Gross Commission”).
13.4 Recoupment of Draws. After Employer
determines Employee’s Gross Commission, Employer shall
deduct from such Gross Commission all amounts due and
owing to the Employer for Draws taken by Employee.
13.4.1. Net Commission. Any balance
remaining after the deduction of the Draws and other
applicable payroll deductions from the Gross
Commission, shall be paid to Employee at the commission
payroll period (“Net Commission”).
13.4.2. Draws Exceeding Gross Commission.
If Employee’s Draws as reflected in the Draw Record
exceed Employee’s Gross Commission, Employee agrees
that Employer shall be entitled to deduct as much of
the amount due in Draws from the Gross Commission as
possible. In addition, Employee agrees that any
balance remaining in Employee’s Draw Record will be
carried over into subsequent months until Employee’s
Gross Commission has satisfied such balance.
* * * * * * *
Page: Previous 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 Next
Last modified: November 10, 2007