SALES INCENTIVE AGREEMENT
This Sales Incentive Agreement (the "Agreement") is entered into on [Month Day, Year] (the "Effective Date"), by and between [Your Company Name], a corporation registered under the laws of New York with its principal place of business at [Company Address] (hereinafter referred to as the "Company"), and [Second Party], an individual residing at [Second Party Address] (hereinafter referred to as the "Sales Representative").
Purpose
The purpose of this Agreement is to establish the terms and conditions under which the Sales Representative will be eligible to participate in the Company's sales incentive program.
Sales Incentive Program
Eligibility: The Sales Representative shall be eligible to participate in the Company's sales incentive program, which is designed to reward outstanding sales performance, subject to the terms and conditions set forth herein.
Incentive Structure: The Company will outline the specific sales incentive structure, including commission rates, bonuses, and targets, in a separate document or policy. The Sales Representative agrees to abide by the terms of the incentive structure as provided by the Company.
Performance Metrics: The Sales Representative's performance will be assessed based on predefined performance metrics, which may include but are not limited to sales revenue, customer retention, and other key performance indicators as determined by the Company.
Payment and Reporting
Payment Schedule: Incentive payments shall be made according to a schedule specified by the Company. The Sales Representative shall receive detailed statements outlining the calculation of incentives earned.
Taxes: The Sales Representative acknowledges and agrees that all incentive payments made pursuant to this Agreement are subject to applicable taxes and deductions, which will be withheld by the Company as required by law.
Termination and Forfeiture
Termination: This Agreement may be terminated by either party with written notice to the other party, subject to any obligations accrued or owing as of the date of termination.
Forfeiture: In the event of the Sales Representative's termination for any reason, the Sales Representative shall forfeit any unpaid incentives that have not yet been earned or paid out.
Confidentiality and Non-Compete
The Sales Representative agrees to maintain the confidentiality of all Company information and agrees not to engage in any competitive activities that may be detrimental to the Company during the term of this Agreement and for a period after its termination.
Governing Law
This Agreement shall be governed by and construed in accordance with the laws of New York.
Entire Agreement
This Agreement constitutes the entire agreement between the parties with respect to its subject matter and supersedes all prior and contemporaneous agreements and understandings, whether written or oral.
Amendments
This Agreement may be amended only in writing and signed by both parties.
IN WITNESS WHEREOF, the parties hereto have executed this Sales Incentive Agreement as of the Effective Date.
[Your Company Name]
By: ____________________________
[Your Name] Zara Seraphim
HR Manager [Month Day, Year]
[Month Day, Year]
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