Sales Commission Calculation Agreement
Sales Commission Calculation Agreement
This Commission Calculation Agreement (the "Agreement"), is hereby solemnly made in [Month Day, Year] by [Your Company Name], with its principal place of business in [Your Company Address], hereinafter referred to as the "Company", and [Your Partner Company Name], with its principal place of business at [Your Partner Company Address], hereinafter referred to as the "Sales Operations Manager", collectively referred to as the "Parties." This Agreement is established with the mutual intention of defining the terms under which commissions will be calculated and disbursed in relation to the sales of [Product Name].
1. Commission Structure
1.1. The Company agrees to pay a commission to the Sales Operations Manager for their contribution to the sales of the [Product Name] as per the terms outlined in this Agreement.
1.2. The Company agrees to pay a commission to the Sales Operations Manager based on a percentage of the total sales revenue generated by the Sales Operations Manager's efforts.
1.3. The commission percentage shall be ten (10) percent of the total sales revenue from [Product Name] achieved through the Sales Operations Manager's activities. This percentage can be adjusted as per the mutually agreed terms and conditions, and it will be outlined in an addendum to this Agreement if any changes are made.
2. Calculation and Payment:
2.1 Commission Calculations: The computation of commissions shall be predicated upon the sales data and analytics as generated by the Company's proprietary Sales Analytics & Reporting System. This methodology ensures a precise and data-driven basis for all commission-related calculations.
2.2 Monthly Calculations: The calculation of commissions shall occur on a monthly basis, providing a regular and predictable framework for assessing sales performance and corresponding remunerations.
2.3 Payment Schedule: The Sales Operations Manager shall be the beneficiary of commission payments on the fifteenth (15th) day of each month, or within seven (7) days following the completion of the monthly calculation period, thereby ensuring timely and efficient disbursement of earnings.
2.4 Method of Payment: All commission payments shall be disbursed via direct deposit, streamlining the payment process and facilitating immediate access to funds.
3. Termination
3.1 Termination Rights: Either party may terminate this Agreement upon providing thirty (30) days’ written notice to the other party, offering a structured procedure for the dissolution of the Agreement.
3.2 Post-Termination Entitlements: In the event of termination, the Sales Operations Manager shall be entitled to receive all accrued but unpaid commissions earned up until the termination date, safeguarding the rights and earnings of the Sales Operations Manager.
4. Confidentiality
The Sales Operations Manager is mandated to uphold the utmost confidentiality concerning all sales data, analytics, and sensitive information accessed or acquired in the course of executing their duties under this Agreement.
5. Miscellaneous
5.1 Entire Agreement: This Agreement embodies the full and entire understanding between the Parties, superseding all prior agreements, negotiations, and discussions, whether oral or written, relating to the subject matter herein.
5.2 Amendments: Any amendments or modifications to this Agreement must be executed in writing and duly signed by both Parties, ensuring clarity and mutual agreement on any changes.
6. Governing Law
This Agreement shall be governed by and construed in accordance with the laws of [Your Company Address], thereby determining the legal framework and jurisdiction for any matters arising from this Agreement.
IN WITNESS WHEREOF, the Parties have executed this Commission Calculation Agreement as evidence of their agreement as of the Effective Date stated herein.
[Your Company Name]:
[Your Name]
[Job Title]
[Month Day, Year]
[Your Partner Company Name]:
[Name]
[Job Title]
[Month Day, Year]
