I received an email offer from a company I am looking to work for

I received an email offer from the mortgage manager looking to get me on board as a new hire offering me a non recoverable draw and he sent me the email response from corporate:

Below is the offer from my corporate office.

Sign on/Retention- Month 1-3 $4000 per month paid on the 2nd pay period of each month. If employees resigns or is terminated for cause within 6 months monies will be do an payable immediately (This is doubling his run rate at Regions)
Month 4, $4000 draw against commission. If employees resigns or is terminated for cause within 6 months any outstanding draw will be do an payable immediately
*Performance expectations: Employee should have at least 1 application taken within the 1st 30 days , 2 active applications in pipeline and 2 loans funded in month 2 , 2-3 active applications in pipeline and 2 loans funded in month 3 ,


Let me know how you want to proceed ?

If after 4 months I am not closing any home loans and I need to survive and find a job elsewhere, can that company go after me to payback all the money?

1 answer  |  asked Sep 17, 2015 11:09 AM [EST]  |  applies to Florida

Answers (1)

Arthur Schofield
If you resign it appears that money will have to be repaid. If they terminate you for cause money will also have to be repaid, but "cause" is not defined. Typically I would see these provisions in a written and signed contract, not just in e-mail form. Hope this helps.

posted by Arthur Schofield  |  Sep 18, 2015 08:44 AM [EST]

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