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.
The Indiana Sales Representative Agreement with Residual Payments for New Customers after Contract Terminates is a legal document that outlines the terms and conditions of the business relationship between a sales representative and a company based in Indiana. This agreement ensures that both parties are protected and have a clear understanding of their rights and obligations. Keywords: Indiana, Sales Representative Agreement, Residual Payments, New Customers, Contract Termination This agreement typically consists of several key sections: 1. Introduction: The agreement starts with an introductory section that provides the full legal names and addresses of both the sales representative and the company. It also states the effective date and duration of the agreement. 2. Scope of Representation: This section defines the specific products or services that the sales representative will sell on behalf of the company. It also outlines the territories or markets the representative is authorized to cover. 3. Commission and Residual Payments: In this section, the agreement establishes the agreed-upon commission structure for the sales representative. It may detail how commissions are calculated, when they are paid, and any other relevant payment terms. Additionally, the agreement might include provisions for residual payments to the sales representative for new customers acquired during the term of the agreement, even after the contract terminates. This ensures that the sales representative continues to receive compensation for their efforts. 4. Non-Disclosure and Non-Compete: To protect the company's confidential information and prevent any potential conflict of interest, this section typically includes clauses that prohibit the sales representative from disclosing trade secrets or engaging in competitive activities during and after the termination of the agreement. 5. Termination: This section specifies the conditions under which either party can terminate the agreement and the notice period required for termination. It may also outline any financial obligations or outstanding commissions that must be settled upon termination. 6. Governing Law and Dispute Resolution: The agreement includes a clause that determines which state laws govern the agreement and any disputes that may arise. It may also specify the preferred method of dispute resolution, such as mediation or arbitration. Different variations of the Indiana Sales Representative Agreement with Residual Payments for New Customers after Contract Terminates may have additional clauses or modified terms based on the specific needs and requirements of the parties involved. It is essential for both the sales representative and the company to carefully review and negotiate the terms of the agreement to ensure it meets their respective interests and complies with applicable laws.The Indiana Sales Representative Agreement with Residual Payments for New Customers after Contract Terminates is a legal document that outlines the terms and conditions of the business relationship between a sales representative and a company based in Indiana. This agreement ensures that both parties are protected and have a clear understanding of their rights and obligations. Keywords: Indiana, Sales Representative Agreement, Residual Payments, New Customers, Contract Termination This agreement typically consists of several key sections: 1. Introduction: The agreement starts with an introductory section that provides the full legal names and addresses of both the sales representative and the company. It also states the effective date and duration of the agreement. 2. Scope of Representation: This section defines the specific products or services that the sales representative will sell on behalf of the company. It also outlines the territories or markets the representative is authorized to cover. 3. Commission and Residual Payments: In this section, the agreement establishes the agreed-upon commission structure for the sales representative. It may detail how commissions are calculated, when they are paid, and any other relevant payment terms. Additionally, the agreement might include provisions for residual payments to the sales representative for new customers acquired during the term of the agreement, even after the contract terminates. This ensures that the sales representative continues to receive compensation for their efforts. 4. Non-Disclosure and Non-Compete: To protect the company's confidential information and prevent any potential conflict of interest, this section typically includes clauses that prohibit the sales representative from disclosing trade secrets or engaging in competitive activities during and after the termination of the agreement. 5. Termination: This section specifies the conditions under which either party can terminate the agreement and the notice period required for termination. It may also outline any financial obligations or outstanding commissions that must be settled upon termination. 6. Governing Law and Dispute Resolution: The agreement includes a clause that determines which state laws govern the agreement and any disputes that may arise. It may also specify the preferred method of dispute resolution, such as mediation or arbitration. Different variations of the Indiana Sales Representative Agreement with Residual Payments for New Customers after Contract Terminates may have additional clauses or modified terms based on the specific needs and requirements of the parties involved. It is essential for both the sales representative and the company to carefully review and negotiate the terms of the agreement to ensure it meets their respective interests and complies with applicable laws.
