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New hire Contract.What are my rights

RikoSUAVE55 · 2016-08-07T15:07:31+00:00

What is the name of your state (only U.S. law)? Georgia Hello, I am self employed but I got a great offer to work as a managing partner for a cafe. The pay is great. 35 base with 50 percent of profits. The spot generally profits 70-100 k annually. I was hesitant. As a Chef I have been brought on by a company and paid a very high wage, to get the place in order. Once everything was in place, I was removed. So I asked to get something in writing. Now my boss is no lawyer and quickly wrote this up. Im wondering what everyone thinks. Does it protect me from being fired for no reason? WHat about the verbage in the percentage. 1 % entitles me to 50% of profits. My buddy says if you are given a percentage of a company then its there forever unless you sell it back. Any input? Agreement below. Offer Letter for ****** R This offer letter is being made to ****** R(MR) from GXX . It is an offer to be the Operating Partner at GXX's contracted foodservice at Cat plant in GA. MR will be the face of the Cat. He will be responsible for all day to day operations, including: Customer relations, marketing, employee management and scheduling, ordering, and conflict resolution. This is a hands on position that requires cooking, prepping, menu planning, food costing and light book-keeping. The Cafeteria will be open for Breakfast at 5:30 am, and breaks, lunch, snacks and dinner service until 10pm. MR will be responsible for making sure reliable staff is in place to open and close. MR will be expected to cover any shifts that are short staffed. He will primarily be the opening person in the morning, but regularly will work night shifts to be sure that it is also running properly. Compensation: MR and GXX Management will both receive a base salary of $35,000 per year. All net income from the operation of the Cat 's account will be divided equally between MR and GXX. Net income will be distributed monthly, based on previous quarter"s P&L. i.e., January-March net income is $20,000, MR would receive $10,000 over the next three months (April-June). MR will be a given 1% ownership in the Corporation set up to operate the Cat Caf. This ownership has no cash value should the corporation be sold however, this ownership will entitle MR to 50% of the net income as stated above. In the event MR is terminated for any reason other than loss of contract, or resigns without giving 90 days notice, MR will forfeit his final 3 months of net income distribution.

Thread starter RikoSUAVE55
Start date Aug 7, 2016

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cbg

I'm a Northern Girl

Aug 7, 2016

When you showed this to an attorney in Georgia, what did he say?

xylene

Senior Member

Aug 7, 2016

You need to show this to a lawyer and you probably should edit what you have shared here more carefully...

RikoSUAVE55

Junior Member

Aug 7, 2016

Attorney

I have not shown this to an attorney yet.

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