The following terms and conditions as set out below shall form part of the Offer of Employment Agreement:
Commission Scheme
1. For any deal generated and concluded ** by you, the commission payable to you will be at the rate of 10% of any net billings (Net revenue i.e. excluding regional fee shares and any reimbursable revenues and/or sub agency fee) received by the Company.
The commission rate is made up from the following components:
Individual Commission 25%
Team Pool Commission 75%
Note:
i. “Concluded” means an execution of a contract or completion of work to Shell’s satisfaction.
2. Inter-departmental Referral and Cooperation
In the event that you work on a deal together with other employees or is referred a deal by another Department, the commission may be shared on a discretionary basis. Any inter-departmental sharing commission and payment of referral fees shall be reviewed and decided by the Managing Director based on your level of involvement and performance.
3. Payment of Commission and Pool Commission
The Company will pay such commissions to you subject to the following conditions:-
a. Commissions under this scheme are calculated upon your share of a recognizable invoice being raised during a financial year. A recognizable invoice shall be one that complies with the audit requirements of the Company.
b. The Company must have received in full all monies due to it in respect of the relevant real estate transactions in which commissions are due to you. All Commission shall be paid to you 45 working days from the receipt of the billings.
c. The pool commission will be paid on a discretionary basis and based on your performance and contribution to the transaction. The Company retains the right if considers it reasonable and appropriate, not to pay any pool commission to you.
d. At the time such monies are paid to the Company, you remain an employee of the Company.
e. In case of resignation or termination of employment, any commission received by the Company after the effective date of resignation or termination shall not be paid to you.
For the avoidance of doubt, if your employment is terminated for any reason whatsoever, you will not be entitled to payment of any commission, whether such commissions are in respect of transactions closed or agreed during the period of your employment or otherwise, if all the monies in respect of such transactions have not been received by the Company before the date of termination of your employment.
The Company retains the right to change this scheme from year to year in any way it considers reasonable and appropriate. You will be notified in writing of any changes.
The following terms and conditions as set out below shall form part of the Offer of Employment Agreement:
Commission Scheme
1. For any deal generated and concluded ** by you, the commission payable to you will be at the rate of 10% of any net billings (Net revenue i.e. excluding regional fee shares and any reimbursable revenues and/or sub agency fee) received by the Company.
The commission rate is made up from the following components:
Individual Commission 25%
Team Pool Commission 75%
Note:
i. “Concluded” means an execution of a contract or completion of work to Shell’s satisfaction.
2. Inter-departmental Referral and Cooperation
In the event that you work on a deal together with other employees or is referred a deal by another Department, the commission may be shared on a discretionary basis. Any inter-departmental sharing commission and payment of referral fees shall be reviewed and decided by the Managing Director based on your level of involvement and performance.
3. Payment of Commission and Pool Commission
The Company will pay such commissions to you subject to the following conditions:-
a. Commissions under this scheme are calculated upon your share of a recognizable invoice being raised during a financial year. A recognizable invoice shall be one that complies with the audit requirements of the Company.
b. The Company must have received in full all monies due to it in respect of the relevant real estate transactions in which commissions are due to you. All Commission shall be paid to you 45 working days from the receipt of the billings.
c. The pool commission will be paid on a discretionary basis and based on your performance and contribution to the transaction. The Company retains the right if considers it reasonable and appropriate, not to pay any pool commission to you.
d. At the time such monies are paid to the Company, you remain an employee of the Company.
e. In case of resignation or termination of employment, any commission received by the Company after the effective date of resignation or termination shall not be paid to you.
For the avoidance of doubt, if your employment is terminated for any reason whatsoever, you will not be entitled to payment of any commission, whether such commissions are in respect of transactions closed or agreed during the period of your employment or otherwise, if all the monies in respect of such transactions have not been received by the Company before the date of termination of your employment.
The Company retains the right to change this scheme from year to year in any way it considers reasonable and appropriate. You will be notified in writing of any changes.
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