Memorandum Regarding Commission Plans

Memorandum Regarding Commission Plans :

This Memorandum should be typed in the official letter-head of the company.

TO :



SUBJECT : Commission Plans

Per our discussion on last week, the following will be your sales commission plan for the next fiscal year.

Your base salary will be Rs.28000 per week. This annualizes to Rs.1456 000. There are 24 pay periods per year. That is Rs.60 666 per pay period before taxes and other deductions.

Commissions are paid on the 15th of the following month for the previous month.

10 percent of net collected on established accounts

11 percent of net collected on new accounts

For each percentage point increase in net sales revenue over the same month last year you will receive Rs.2000.00. For example, if net sales increase by 8.75 percent over the same quarter last year your quarterly bonus would be Rs.17 500. Monthly bonuses will be paid on 15th of the month following the quarter.

If you have any questions please let me know. This plan is effective upon your signature.

Memorandum Regarding Commission Plans