As the Hd of sales (paid commissions) for a rapidly growing firm, how do I protect myself from a frugal boss?

Question

I am Hd of sales for a small firm that doubled in size in the last year. 6 months ago my boss asked me to help him develop a key relationship with a leading provider of a complimentary service. After pursuing this we are now about to announce a huge partnership. My problem is that instead of getting paid the10% on the sales that will come out of this new relationship (my standard commission), my boss told me that he wouldn't be able to "afford" to pay my share, but he could only pay 1% on those sales. It seemed fine because in this same conversation (3 mos ago), he agreed he would give me equity (which I had been asking for, for the past year). This seemed like a win-win, but just as he finalized the contract (with my help!) with the other group, I asked for my equity in writing & he said it was now off the table! I feel hoodwinked as we have a finite prostpect list. He has always been ethical until now. He has subtely implied that I make enough money. What do I do?

Answer 1

Mama has a litigious answer, but it will likely end your relationship with your boss, and you may not win anything in the ensuing court battle, while losing attorneys fees as well. Unwritten contracts are unenforceable. You need to get the next big deal in writing. As for this deal, you don't want to ruin it. What you want are the fruits of your labors. The best way to do this is to get him to agree to give you compensation in equity in the company. If you're that valuable to him now, you'll be that valuable in the future. If he refuses, consider going to his competitors. I recommend you get a coach to help you deal with this situation in terms of your long term goals and the near term negotiations you need to make with your employer.

Unfortunately, at the time he offered you equity, you didn't press him to set it in writing. Next time, get at least a letter of understanding signed by him, but preferably a contract. He probably needs to keep this business you landed, so it's not like you don't have any bargaining power. Understanding your value to your boss, discuss with him the importance of keeping clear expectations in terms of compensation. If he's legally obligated to pay you 10%, and you're willing to take equity in exchange for it, perhaps you can renegotiate your compensation for this past deal as well. Perhaps that conversation goes like this "When I understood that I was only getting 1%, I also understood I would be recieving equity in the company to make up for the other 9%."

Good luck.

Answer 2

talk to him aside and tell him that you are going to be getting a lawyer and that he should get one too and leave it at that if he asks why tell him you have invested to much time and effort and others think so as well to be cheated out of your rightful commission tell him its causing you emotional desress and that you will be suing for harrassment and discrimination

oh yeah and tell him that the courts will see that he is stepping on the people that have been working earnestly for him
and dont tell him until youve actually got a lawyer and the papers have been filed agianst him already
very important tell the lawyer harrassment and discrimination first off then the rest later another thing is your boss cant fire you during a lawsuit nor can he lower your pay rate

Answer 3

Coming from you, i'm helpful he will think of not something sounds out of the traditional. What do YOU care what he thinks besides? i attempt to furnish you useful grievance consistently and additionally you always run off crying hysterically whilst consistently i comprehend you're only being a pretend drama queen yet you definitely do it to make me experience greater beneficial approximately MYSELF.