120 base, 50 OTE bonus, sales engineer, 3 YOE, HCOL

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I feel like I've been lowballed, can someone explain the below breakdown please?

Base salary: 60k
Quarterly quota (per quarter): 107k
Quarterly bonus (per annum): 23k
130% Annual bonus = 11.5k
"23% commission on quota minus base": 37k (don't understand this)
"Proposed 23% commission on 150% quota minus base": 86.5k
Sales commission threshold per month: 22k
OTE: 122k
Cost/Sales: 28%

That base salary is lower than my previous base by a significant amount by 32.7%

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