My company just supplied me a new contract for a sales commission plan on 8/24/2016 and stated in an email to me that it is going into effect on 9/1/2016 even if I do not sign it. The questions I have are:
1) how long do I have to review the contract and can they put it into effect even if I do not sign it? (I have my original comp plan from 2013 that is currently in effect)
2) I am very concerned about it because they now refer to commission as a "recoverable draw" and they mention being able to not only doc my commission but my salary as well?
3) They also stated that my original plan would be in effect for all contracts that were signed prior to 9/1/2016 but the contract states the following "This plan constitutes the entire agreement concerning the subject matter described herein, and is expressly agreed that no modifications or amendment of the Plan shall be effective unless made in writing by "the companies" Vice President of Sales." I am adding a comment to include the following language "No adjustments or modifications apply to the Sales Commission Plan's in effect prior to September 1, 2016. All existing plans will remain in effect for contracts signed prior to 9/1/2016"
I am just seriously concerned about the current state of my company as well as the 10 page legal comp structure they put infront of me vs the single paragraph one I had in the past. This plan is so convoluted that I am not even sure how they would track it and when I asked for them to supply a commission tracker to me I got the following response: "Commission reports will be issued to salesperson on a periodic basis. We provided several examples in the Commission Plan to ensure the mechanics are understood." REALLY????
Please help and if anyone has suggestions I will take them.
Thanks in advance for any assistance!!!