I am a master electrician that is working for a swimming pool company. Recently my employer and I decided to activate my master license using the company liability insurance so I could install electrical when building pools instead of him contracting out. We did not draw up any kind of contract but we discussed him giving me a bonus or some of the profits. So far I have not received anything extra. Someone told me that I should be getting at least half the profits of an electrical job because I am liable also. Does anyone know of a contract that can be used for this type of thing? Or any suggestions?
There are a number of issues posed as to your role here - beginning with defining your relationship. That is: are you an employee or an independent contractor? It's a question that allows but one of those two answerrs; be wary of any attempts to blur the distinction.
Part of the answer depends on whether the license belongs to you, or to the company.
For example, in Nevada the law allows for a 'qualifying employee' to allow the firm to hold a contracting license. If the employee leaves, the firm must have the State approve the replacement; the employee is not allowed to carry that license with him to a new job, or to do work on his own.
There are other considerations that enter the picture. Among these are the responsibility for paying workmans' comp insurance, unemployment insurance, and witholding taxes. These are major considerations; many marginal operations attempt to avoid their responsibilities by claiming that you are an 'independent contractor,' while at the same time paying you discounted wages. DON'T FALL INTO THAT TRAP!
Whoever issues your 'master' credentials ought to be able to explain some of this stuff to you. Likewise, a CPA and the local trade groups are good resources for you to discover.
Sounds like you basically became an hourly employee. Arrangements similar to what you have described are done all the time around here when plumbing or HVAC companies want to start an in-house electrical division. I'm sure the laws are probably different where you are, but even so, you should definitely have a written contract outlining everything. Since you are still placing quite a bit of potential liability on your shoulders by risking your license as well as your future income if something should go wrong, maybe even years down the road, the current business arrangement should be made worthwhile for both of you.