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Get out of Non Recoverable Draw in offer

 
 
MeBiggE
 
Reply Sat 24 Sep, 2022 05:20 pm
I feel stuck in a bad nightmare. I thought what I signed was a draw against commissions and now come to see I’m stuck until Feb23 or would owe $46k back. I like to leave and have an offer elsewhere but Any help?

Here is fine print from the offer:

“If you decide to join us, your initial annual salary will be $XXX,000.00, less applicable tax and other withholdings, paid in accordance with the Company's normal payroll practices. Future adjustments in compensation, if any, will be made by the Company in its sole discretion. Additionally, you will receive a Non-Recoverable Draw of $7,916,66 per Month for the first three (3) months, and $5,938 for the next three (3) months commencing with your start date. Payments will follow the commission cycle process. If you voluntarily terminate from the company within the first twelve months of employment, you will be required to pay back all Draw amounts received. Future adjustments in compensation, if any, will be made by Company in its sole and absolute discretion. This position is an exempt position and you will not be eligible for overtime pay. You are also offered a signing bonus of $5,000.00, to be paid after you start employment with the Company, less applicable tax and other withholdings, paid in accordance with Company's normal payroll practices. In the event that you leave Company within 12 months of your date of hire, you will be responsible for reimbursing the company for the entire signing bonus. “

Help??!!
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tsarstepan
 
  -1  
Reply Mon 26 Sep, 2022 12:22 pm
@MeBiggE,
Quote:
D. THIS SERVICE DOES NOT PROVIDE PROFESSIONAL LEGAL ADVICE. All of the services' content, including postings, is for informational purposes only. The service is not intended to be a substitute for professional legal advice, and no attorney/client privilege is to be inferred from any postings herein. Always seek the advice of a qualified legal professional with questions you have regarding a legal matter. You should not disregard professional legal advice because of something you have received from or read in the able2know service.

AKA don't putz around looking for free (and likely unreliable) legal advice online. Get yourself an attorney specializing in employment law.
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engineer
 
  -1  
Reply Mon 26 Sep, 2022 01:54 pm
@MeBiggE,
Did you draw the money? Where did it go?
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