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Offer With Bonus
OFFER WITH BONUS
[Date]
[Mr/Mrs/Ms/Dr] [First Name of applicant] [Last Name of applicant]
[Title of applicant]
[Company of applicant]
[Address of applicant]
[City of applicant], [State of applicant] [Zip Code of applicant]
Dear [Mr/Mrs/Ms/Dr] [Last Name of applicant]:
It is with great pleasure to inform you that you have been selected for the position of [Job Title] at [Company Name]
The annual base salary is $[salary per year] with a bonus provision of 10% of net profits over $[net profits] per fiscal quarter. Net profits will be determined by subtracting the cost of goods sold and G&A expenses of your store from the gross revenues of your store. Refer to the attached table of calculation and the derivation of net profit; your percentage share is highlighted.
Bonus payments are calculated within ten business days after the quarterly "closing of books" and distributed on the eleventh business day. If your employment is terminated during the quarter, your share will be calculated on a pro-rata basis. Refer to the third page of the benefits chapter of your employee handbook.
This agreement will remain effective for [Period of agreement] years from beginning date on [Initial date of agreement]. The agreement can be terminated at an earlier time by either party with a written notification at least weeks prior to the last working day.
We believe that you will find this agreement attractive and look forward to have you join our growing company.
Sincerely,
[Name of employer]
[Title of employer]
[Phone of employer]