On January 24, 2018 a
Exhibit,Appendix
was filed
involving a dispute between
Cushman & Wakefield, Inc.,
and
Lawrence Tannenbaum,
for Commercial - Contract
in the District Court of New York County.
Preview
FILED: NEW YORK COUNTY CLERK 07/18/2018 04:36 PM INDEX NO. 650383/2018
NYSCEF DOC. NO. 26 RECEIVED NYSCEF: 07/18/2018
FILED: NEW YORK COUNTY CLERK 07/18/2018 04:36 PM INDEX NO. 650383/2018
NYSCEF DOC. NO. 26 RECEIVED NYSCEF: 07/18/2018
INDEX NO. 65O3 83 / 2 018
N'ILED ; NEW YORK COUNTY CLERK 2 1 5 :4 2 P
NYSCEF'
NYSCEF DOC. NO. 1 RECEIVED NYSCEF : 01/24/2018
DRAWING ACCOUNT RIDER
I'
RIDER to the Section 350S Broke:MSalesperson Agneement ("Agreement"), dated f_, 2009, between
Pebruary
Cushman & WakeEeld, Inc. ("C&W") and Lawrence Tannenbaum ('you").
DR AWING ACCOUNT
During the period from February L 2009 to Pebruary E.,2012, C&W sha!I: (1)provide you with a guaranteed
draw at the rate of $35,000 per annum, payable in equal installments of $1 58.SS (less
semi-monthly
Draw"
withhoklings, ifappropriate) (the "Guaranteed Draw") and (2)make advances toyou of (1) during the period
S'
from Pebruary I, 2009 to Pebruary if_2010, $46S,000, payable in equal semi-oumthly installments of $19,S75
8'
(lesswithholdings, if appropriate), (ii)
during the period from Eebruary 1 2010 to Pebruary I 2011, $365,000,
payable in equal semi-rnonthly installments of $15,208.33 (lesswithholdings, if appropriate), (iii) the
during
period from Pebruary 4 2011 to Pebruarf I 20u, $265,000, payable in equal semi-monthly irwan-ngs of
$11,04t67 (lesswithholdings,1f appropriate), ((i),
(it)and (iii)
coueetively, the "Recourse Dmw") (Unaranfzed
Draw"
Draft and the"necourse Draw", conectively the -oraw"). C&W may atanmtinue the odacanized nraw and/or
Recomme Draw without notice the expiration of account or for"cause"
upon any drawing period atany time (as
such term isdefined in the Agreement) during such period or, subsequent to Pebruary mill, at any time
days'
upon 14 notice;
e the Draw shall terminate automaticany upon f==ination of your
J engagement. Prom the
r l
collected commissians and fee balance, C&W willoffset any Draw paid and will pay the positivedifference (less
any other applicable debits or adjustments) toyou in additlan to the Draw. In no event shall you receiveless in
compensation than the Guaranteed Draw and no reductions will be made to the Guaranteed Dmw because of
quality'
the quantity
or quality of work. AMOUNTS ADVANCED 70 YOU AS RECOURSE DRAW PAYMENTS
ARE LOANS 10 BE REPAID TO C&W UPON DEMAND. If your share of commissians and fees fanot
sufficientto reimburse C&W for Recourse Draw advances, you shallrepay
C&W from your own funds.
PROMISSORY NOTE
To evidence your obligation to repay Recourse Draw advances, you shall sign and deliver toC&W a promissory
note or notes in an amount equal to the Recoutse Draw advances tobe made to you. Upon repayment of the
Recourse Dmw advances in fullto C&W, the promissory note(s) shallbe cancelled and retmimd to you.
AND '
COSTS ATTORNEYP FEES
Ifyou failto repay C&W the Recourse Draw as provided herein and C&W refers the collection of theunpaid
C&W all attorneys'
amounts to legal counsel, you ahall reimburse for reasonable costs and fees thereby
incurred.
RIG%i' OPItSN'
NO OFFICER OR EMPLOYEE OF C&W HAS THE AUTHORITY 'lU WAIVE C&W'S RIGHT TO OPPSET
DRAW PAYMENTS PROM COLLECI'ED COMMISSIONS AND FEE BALANCES OR TU REPAYMENT
OF RECOURSE DRAW ADVANCES OR TO STATE THAT SUCH RIGHT WILL NOT BE IDOmCISED. By
below, you canarm that you understand the foregaing and that you are not relying upon any such
unauthorized waiver or statement.
In allother respects, except as herein rnodified, the Agreement ishereby ratified and confirmed.
Cushman & Wak In
f/
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21 of 25
Document Filed Date
July 18, 2018
Case Filing Date
January 24, 2018
Category
Commercial - Contract
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FILED: NEW YORK COUNTY CLERK 07/18/2018 04:36 PM INDEX NO. 650383/2018 NYSCEF DOC. NO. 26 RECEIVED NYSCEF: 07/18/2018 FILED: NEW YORK COUNTY CLERK 07/18/2018 04:36 PM INDEX NO. 650383/2018 NYSCEF DOC. NO. 26 RECEIVED NYSCEF: 07/18/2018 INDEX NO. 65O3 83 / 2 018 N'ILED ; NEW YORK COUNTY CLERK 2 1 5 :4 2 P NYSCEF' NYSCEF DOC. NO. 1 RECEIVED NYSCEF : 01/24/2018 DRAWING ACCOUNT RIDER I' RIDER to the Section 350S Broke:MSalesperson Agneement ("Agreement"), dated f_, 2009, between Pebruary Cushman & WakeEeld, Inc. ("C&W") and Lawrence Tannenbaum ('you"). DR AWING ACCOUNT During the period from February L 2009 to Pebruary E.,2012, C&W sha!I: (1)provide you with a guaranteed draw at the rate of $35,000 per annum, payable in equal installments of $1 58.SS (less semi-monthly Draw" withhoklings, ifappropriate) (the "Guaranteed Draw") and (2)make advances toyou of (1) during the period S' from Pebruary I, 2009 to Pebruary if_2010, $46S,000, payable in equal semi-oumthly installments of $19,S75 8' (lesswithholdings, if appropriate), (ii) during the period from Eebruary 1 2010 to Pebruary I 2011, $365,000, payable in equal semi-rnonthly installments of $15,208.33 (lesswithholdings, if appropriate), (iii) the during period from Pebruary 4 2011 to Pebruarf I 20u, $265,000, payable in equal semi-monthly irwan-ngs of $11,04t67 (lesswithholdings,1f appropriate), ((i), (it)and (iii) coueetively, the "Recourse Dmw") (Unaranfzed Draw" Draft and the"necourse Draw", conectively the -oraw"). C&W may atanmtinue the odacanized nraw and/or Recomme Draw without notice the expiration of account or for"cause" upon any drawing period atany time (as such term isdefined in the Agreement) during such period or, subsequent to Pebruary mill, at any time days' upon 14 notice; e the Draw shall terminate automaticany upon f==ination of your J engagement. Prom the r l collected commissians and fee balance, C&W willoffset any Draw paid and will pay the positivedifference (less any other applicable debits or adjustments) toyou in additlan to the Draw. In no event shall you receiveless in compensation than the Guaranteed Draw and no reductions will be made to the Guaranteed Dmw because of quality' the quantity or quality of work. AMOUNTS ADVANCED 70 YOU AS RECOURSE DRAW PAYMENTS ARE LOANS 10 BE REPAID TO C&W UPON DEMAND. If your share of commissians and fees fanot sufficientto reimburse C&W for Recourse Draw advances, you shallrepay C&W from your own funds. PROMISSORY NOTE To evidence your obligation to repay Recourse Draw advances, you shall sign and deliver toC&W a promissory note or notes in an amount equal to the Recoutse Draw advances tobe made to you. Upon repayment of the Recourse Dmw advances in fullto C&W, the promissory note(s) shallbe cancelled and retmimd to you. AND ' COSTS ATTORNEYP FEES Ifyou failto repay C&W the Recourse Draw as provided herein and C&W refers the collection of theunpaid C&W all attorneys' amounts to legal counsel, you ahall reimburse for reasonable costs and fees thereby incurred. RIG%i' OPItSN' NO OFFICER OR EMPLOYEE OF C&W HAS THE AUTHORITY 'lU WAIVE C&W'S RIGHT TO OPPSET DRAW PAYMENTS PROM COLLECI'ED COMMISSIONS AND FEE BALANCES OR TU REPAYMENT OF RECOURSE DRAW ADVANCES OR TO STATE THAT SUCH RIGHT WILL NOT BE IDOmCISED. By below, you canarm that you understand the foregaing and that you are not relying upon any such unauthorized waiver or statement. In allother respects, except as herein rnodified, the Agreement ishereby ratified and confirmed. Cushman & Wak In f/ I ' - sxxaF' '~'arne=~=-.' w1enceTar um 7:H-~is&AK r. 715e Tale atter' ~ rSWp..m. M atemrrteSauay~btmemtaaatneaeuapaayttttmmet ~ MWWMp ta. a~3». - 10 r-mreaaeimetee - WSÃ$ISJaa 21 of 25