This agreement is for a term of years and terminable at will after the initial term. Sales Representative is to receive a residual commission for sales to new customer (those he brings to the Company) for a certain number of years after this Agreement has expired or been terminated. The appointment of sales representative is nonexclusive since the sale representative will sell for more than one company.
This form is a generic example that may be referred to when preparing such a form for your particular state. It is for illustrative purposes only. Local laws should be consulted to determine any specific requirements for such a form in a particular jurisdiction.
Connecticut Sales Representative Agreement with Residual Payments for New Customers after Contract Terminates: A Connecticut Sales Representative Agreement with Residual Payments for New Customers after Contract Terminates is a legal contract between a sales representative and a company that outlines their working relationship and compensation structure. In this type of agreement, the sales representative is entitled to receive residual payments for generating new customers even after the termination of their contract. The agreement includes the following key elements: 1. Parties involved: The agreement identifies the company, referred to as the "Principal," and the sales representative as the "Agent." 2. Scope of work: The agreement specifies the products or services that the sales representative will promote and sell on behalf of the company. 3. Territory: The agreement defines the specific geographical area or market in which the sales representative is authorized to operate and find potential customers. 4. Compensation: The agreement outlines the compensation structure for the sales representative. In addition to base salary or commission, this particular agreement includes residual payments for new customers even after the termination of the contract. Residual payments are typically a percentage of the revenue generated from each new customer. 5. Termination: The agreement mentions the conditions under which either party can terminate the contract and the notice period required. Different Types of Connecticut Sales Representative Agreement with Residual Payments for New Customers after Contract Terminates: 1. Exclusive Sales Representative Agreement: This type of agreement grants the sales representative exclusive rights to promote and sell the company's products or services in a specified territory. They are entitled to residual payments for new customers even after contract termination within that territory. 2. Non-Exclusive Sales Representative Agreement: In this agreement, the sales representative is not granted exclusive rights to represent the company. They can work with other competing companies simultaneously. However, they still receive residual payments for any new customers they bring to the company. 3. Sales Agency Agreement: This agreement differs from a representative agreement, as it establishes a principal-agent relationship between the company and the sales representative. The sales representative acts as the company's agent and has the authority to enter into contracts on their behalf. The residual payments for new customers after contract termination are included in this type of agreement as well. In Connecticut, it is advisable for both parties involved to seek legal counsel to ensure that the Sales Representative Agreement with Residual Payments for New Customers after Contract Terminates is drafted accurately and complies with state laws and regulations. It is important to customize the agreement to suit the specific needs and requirements of the company and sales representative.Connecticut Sales Representative Agreement with Residual Payments for New Customers after Contract Terminates: A Connecticut Sales Representative Agreement with Residual Payments for New Customers after Contract Terminates is a legal contract between a sales representative and a company that outlines their working relationship and compensation structure. In this type of agreement, the sales representative is entitled to receive residual payments for generating new customers even after the termination of their contract. The agreement includes the following key elements: 1. Parties involved: The agreement identifies the company, referred to as the "Principal," and the sales representative as the "Agent." 2. Scope of work: The agreement specifies the products or services that the sales representative will promote and sell on behalf of the company. 3. Territory: The agreement defines the specific geographical area or market in which the sales representative is authorized to operate and find potential customers. 4. Compensation: The agreement outlines the compensation structure for the sales representative. In addition to base salary or commission, this particular agreement includes residual payments for new customers even after the termination of the contract. Residual payments are typically a percentage of the revenue generated from each new customer. 5. Termination: The agreement mentions the conditions under which either party can terminate the contract and the notice period required. Different Types of Connecticut Sales Representative Agreement with Residual Payments for New Customers after Contract Terminates: 1. Exclusive Sales Representative Agreement: This type of agreement grants the sales representative exclusive rights to promote and sell the company's products or services in a specified territory. They are entitled to residual payments for new customers even after contract termination within that territory. 2. Non-Exclusive Sales Representative Agreement: In this agreement, the sales representative is not granted exclusive rights to represent the company. They can work with other competing companies simultaneously. However, they still receive residual payments for any new customers they bring to the company. 3. Sales Agency Agreement: This agreement differs from a representative agreement, as it establishes a principal-agent relationship between the company and the sales representative. The sales representative acts as the company's agent and has the authority to enter into contracts on their behalf. The residual payments for new customers after contract termination are included in this type of agreement as well. In Connecticut, it is advisable for both parties involved to seek legal counsel to ensure that the Sales Representative Agreement with Residual Payments for New Customers after Contract Terminates is drafted accurately and complies with state laws and regulations. It is important to customize the agreement to suit the specific needs and requirements of the company and sales representative.
