All of the following language is in adherence to the profit sharing agreement.
I am a contributor.
I am not an employee or contractor of the company.
I will keep track of my time at a rate of $XX.XX per hour and will be compensated per the profit sharing agreement. I will maintain all compensation records on a rolling weekly basis. The company reserves the right to discard records outside of that timeframe.
I will give proper notice about the work I do for the company, and it must be approved work. The team may discard my hours if nothing is generated, produced, or otherwise gained for the company, per the team’s interpretation.
I can leave the company at any time and my profit sharing will continue indefinitely with the exception of causing damage to the company.
If the company is not profitable, it owes me nothing.
I will make every effort to benefit the company.
If I am liable for damages to the company, that may impact my profit sharing with the company. If I am liable for damages to the company, the company reserves the right to terminate my profit sharing agreement.
My work to help build the company is owned by the company. In the event that I leave the company, my work is given freely to the company without any expectation and compensation.
I will keep all matters of the business private.
The company reserves the right to take legal action if the terms of this agreement are not met.