GC to Project Manger - the new agreement

[Todd S.]

I wanted to get some thoughts from the veteran flippers about the new structure my GC and I came up with. See the following: Previous Structure -GC bids job -I pay 30% at beginning, 30% halfway, 30% before final walk through, and the remaining 10% after punch out is to my satisfaction. New Structure -GC takes the time to get multiple bids from sub contractors. -GC is given revolving Home Depot credit card for material. -GC is paid $39 an hour for hours working on my jobs. -GC receives 10% of net profit to keep him vested in the outcome of the project. -All invoices from sub contractors come directly to me, in which I pay them directly (no mark up). -Material is paid directly by me (again no markup). So essentially he is working for me in the capacity of s project manger, but is not my payroll. Please provide your thoughts and opinions on this.