marc17
03-15-2007, 03:02 PM
My company is being acquired in 2 1/2 weeks, I am losing my job, have a sales pipeline of almost $3M, of which I am due over $200K, and I am being offered nothing.
Since my company is being acquired, do I have any recourse? The deals should close in the next 90 days, what is the timeline that they must close in, in order for me to get paid if I do have a claim?
Thanks
CompensationCounsel
03-16-2007, 11:19 AM
Two ways to look at commissions, either under contract or as a wage. The first thing to do is read the terms of your commission plan.
Ch.149, sec. 148 considers a commission a wage "when the amounnt of such commissions, less allowable or authorized deductions, has been definitely determined and has become due and payable to such employee."
The question in your instance is whether those amounts are due and payable to you. If they are, then they are a "wage" and you are entitled to payment.
If they are not due and payable, then a few more questions: Have you substantially completed all the work necessary to "earn" the wage? What's left to do? Are they terminating you to avoid paying amounts due? Does the company have a practice of paying out commissions to terminated employees? Let's start with those.