LETTER OF UNDERSTANDING
SALES BONUS/COMMISSION PLANS
The Union recognizes the right of the Company to make adjustments to sales bonus/commission plans from time to time during the life of the Collective Agreement. Adjustments are to be made in good faith and in a fair and reasonable manner, and the Company shall meet with TEAM to review the Sales Bonus/Commission Plans prior to distribution.
At the end of the sales year, the Company shall provide the Union with a report detailing the name of the employee, name of the plan, and the amount of bonus/commission paid.
All eligible employees will have the option to continue to receive sales bonus payments in installments or elect to receive their entire sales bonus in the first quarter of the following year upon the actual sales figures being finalized.
TEAM is an affiliate of the International Federation of Professional and Technical Engineers (IFPTE), AFL-CIO & CLC. Established on July 1, 1918, the IFPTE is a diverse labour union advocating on behalf of more than 80,000 women and men in professional, technical, administrative and associated occupations in Canada and the United States.