Sales Commission Contract HR
Sales Commission Contract
This Sales Commission Contract ("Contract") is entered into on [Effective Date], between [Your Company Name], a company organized and existing under the laws of the State of [State], with its principal place of business at [Your Company Address] ("Company"); and [Sales Representative's Name], an individual residing at [Address] ("Sales Representative"). The Company and Sales Representative are collectively referred to as the "Parties" and individually as a "Party."
WHEREAS, the Company is engaged in the business of [describe the business];
WHEREAS, the Sales Representative has the skills, capabilities, and knowledge to sell the products or services offered by the Company;
WHEREAS, the Company wishes to engage the Sales Representative as an independent contractor to sell its products or services;
WHEREAS, the Sales Representative wishes to earn commissions based on successful sales;
NOW, THEREFORE, in consideration of the promises and covenants contained herein, it is hereby agreed as follows:
I. Scope of Work
1.1 Sales Products/Services
The Sales Representative is authorized to sell the following products/services: [Description of products/services].
1.2 Territory
The Sales Representative shall focus on the following sales territories: [Description of territories].
1.3 Sales Targets
The Sales Representative is expected to meet the following sales targets: [Describe sales targets, such as specific quotas or revenue amounts].
1.4 Reporting
The Sales Representative shall submit regular sales reports to the Company as outlined in [describe the reporting process].
II. Commission Structure
2.1 Commission Rate
The Sales Representative shall earn a commission of [X%] for each completed sale.
2.2 Payment of Commission
The commission shall be paid [weekly/monthly/quarterly] based on the received payments from clients.
2.3 Bonus Structure
Any bonus or incentive programs shall be as described in [describe any bonus programs].
III. Payment Terms
3.1 Invoicing
The Sales Representative is responsible for submitting invoices for commissions earned.
3.2 Method of Payment
Payments shall be made via [checks, wire transfers, etc.]
3.3 Deductions
Any necessary deductions, such as for returns or cancellations, shall be taken from the Sales Representative’s subsequent commission payment.
IV. Contract Duration and Termination
4.1 Contract Duration
This Contract shall be effective from [Effective Date] until [End Date], unless terminated earlier as per the terms herein.
4.2 Termination
Either Party may terminate this Contract by giving [X-days] written notice.
V. Confidentiality
The Sales Representative agrees to keep all information regarding the Company, its products, and its clientele confidential.
VI. Governing Law
This Contract shall be governed by, and construed in accordance with, the laws of the State of [State], without regard to its conflict of law principles. Any legal suit, action, or proceeding arising out of or related to this Contract or the transactions contemplated hereby shall be instituted exclusively in the federal or state courts located within the State of [State], and each Party irrevocably submits to the exclusive jurisdiction of such courts in any such suit, action, or proceeding. In the event of any legal proceedings arising out of this Contract, the prevailing Party shall be entitled to recover its reasonable attorney's fees and court costs from the non-prevailing Party. By entering into this Contract, both Parties acknowledge that they have read and understood the governing law and jurisdiction clauses and agree to be bound by them.
VII. Signature
IN WITNESS WHEREOF, the Parties have executed this Sales Commission Contract as of the Effective Date.
Authorized Signatory:
[Your Name]
[Your Company Name]
[Date]
Authorized Signatory:
[Sales Representative Name]
[Date]
