simplyhere
Junior Member
What is the name of your state? CA
I work for a small start-up standardized test prep school. The owners of the business have asked me to write up an employment contract between myself and the business.
I have arranged with my employer the following salary scheme:
I am to be paid 10% of monthly gross net profit, or, $24 per hour teaching + $8 per hour while performing other duties, whichever is greater. That is, if my cut of the monthly gross net profit is less than what I would have been compensated for hourly work, then I am paid for my hourly work instead.
Any suggestions as to how I should write that into the contract?
On another note, is anyone aware of any possible legal problems with such an arrangement in the state of california?
Thank you everyone for your help.
-jacob
I work for a small start-up standardized test prep school. The owners of the business have asked me to write up an employment contract between myself and the business.
I have arranged with my employer the following salary scheme:
I am to be paid 10% of monthly gross net profit, or, $24 per hour teaching + $8 per hour while performing other duties, whichever is greater. That is, if my cut of the monthly gross net profit is less than what I would have been compensated for hourly work, then I am paid for my hourly work instead.
Any suggestions as to how I should write that into the contract?
On another note, is anyone aware of any possible legal problems with such an arrangement in the state of california?
Thank you everyone for your help.
-jacob