Draw Against Commission Sample Clauses

Draw Against Commission. Shortly following the Effective Date, the Employee will be eligible to receive a lump-sum cash payment of $25,000 (the “Draw Against Commission”), which represents a draw against the first Annual Commission payable to the Employee, such that, the amount of the first Annual Commission payable to the Employee shall be reduced by the full amount of the Draw Against Commission. In the event that the Employee’s employment with the Company is terminated for any reason prior to such time that the first Annual Commission becomes payable to the Employee, the Employee shall repay the entire amount of the Draw Against Commission to the Company.