Aspen Dental (the Company) will provide a draw for each day worked in the amount of $850.00. This will be paid in accordance with bi-weekly payroll processing. Your Gross Profit less draw amounts and malpractice insurance costs are payable within 30 days of the close of each calendar month (“Compensation”). The Company reserves the right to reduce or modify the draw amount if it exceeds the Gross Profit. All adjustments are subject to analysis and modifications as the market dictate.
Employee shall receive minimum Compensation of $300,000 during the first 12 months of employment with the Company. If Employee fails to reach such minimum compensation during the first 12 months of employment with the Company (using the Compensation formula specified above), the Company shall pay to Employee the difference between the Compensation received by Employee and the $300,000 (“MCD Guarantee”) no later than expiration of the13th month after employment with the Company commenced.
To be eligible to receive the MCD Guarantee, Employee must meet the following criteria during the first 12 months of employment as well as at the time the MCD Guarantee is paid: (a) worked a minimum of 250 days; (b) maintain fulltime employment status with the Company; (c) currently employed by the Company; (d) upon first availability after commencement of employment, enrolled and successfully completed the Mastery Path program for new doctors (or a replacement program if specified); (e) enrolled and documented attendance at annual Leadership Retreat; (f) no documented employee relations issues regarding conduct or (g) clinical concerns documented by Company.
Notwithstanding the foregoing, Company reserves the right to re-negotiate or eliminate the MCD Guarantee in its sole discretion after Employee’s first 12 months of employment. Employee is not eligible for the MCD Guarantee if he/she is terminated for cause during the first 12 months of employment or voluntarily resigns from Company during the first 12 months.
Employee shall receive minimum Compensation of $300,000 during the first 12 months of employment with the Company. If Employee fails to reach such minimum compensation during the first 12 months of employment with the Company (using the Compensation formula specified above), the Company shall pay to Employee the difference between the Compensation received by Employee and the $300,000 (“MCD Guarantee”) no later than expiration of the13th month after employment with the Company commenced.
To be eligible to receive the MCD Guarantee, Employee must meet the following criteria during the first 12 months of employment as well as at the time the MCD Guarantee is paid: (a) worked a minimum of 250 days; (b) maintain fulltime employment status with the Company; (c) currently employed by the Company; (d) upon first availability after commencement of employment, enrolled and successfully completed the Mastery Path program for new doctors (or a replacement program if specified); (e) enrolled and documented attendance at annual Leadership Retreat; (f) no documented employee relations issues regarding conduct or (g) clinical concerns documented by Company.
Notwithstanding the foregoing, Company reserves the right to re-negotiate or eliminate the MCD Guarantee in its sole discretion after Employee’s first 12 months of employment. Employee is not eligible for the MCD Guarantee if he/she is terminated for cause during the first 12 months of employment or voluntarily resigns from Company during the first 12 months.