Dear Mr. Jones,The purpose of this letter is to present the proposed outline terms of Mr. James Richards compensation package. "During the initial period, the Department of Veteran Affairs Vet Center shall pay Mr. Richards an annual base salary, payable semi-monthly, in equal installments, at a rate equal to eighty-five thousand one hundred and seventy-six dollars," (Sample business contracts, n.d.). The reason for offering this annual salary to provide Mr. Richards the same income level that is comparable to electrical engineers residing in the Chicago, his experience level, educational background, and his current Texas salary of forty thousand dollars. Additionally, Mr. Richards will be entitled to accrue six weeks of annual leave per year. This benefit will be used to reduce stress at the workplace. The employee will also be entitled to receive a twenty thousand dollars relocation allowance. This benefit will help to compensate the member for relocating to our region.
Richard & Friend
the gang + Richard Dawkins
Daily salary IMG 0077Mr. Richards will be eligible to participate in the incentive compensation plan for employee performance. The employee performance plan is based on reaching the targeted goal of 100% which will enable employees to earn fifteen percent to their base salary annually. This incentive will be determined on if the employee reaches the organization objectives individually and collectively as a group. Mr. Richards will have the opportunity to purchase ten to twenty thousand dollar shares of the company's stock annually. The price will be set at a reduce rate which will help to foster loyalty to the firm.
During the first day of employment, Mr. Jones will be entitled to other benefits such as: social security entitlements, family leave, medical leave, healthcare, dental plan, retirement plans, disability, physical screenings, life insurance, dependent benefits, and unemployment insurance. Free parking is available to all employees. The standard benefits listed above are...