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.
Houston Texas Sales Representative Agreement with Residual Payments for New Customers after Contract Terminates is a legally binding document that outlines the terms and conditions between a company and its sales representative in Houston, Texas. This agreement allows the sales representative to earn residual payments for bringing in new customers even after their contract has ended. Here are some important details to know about this agreement: 1. Purpose: The purpose of this agreement is to establish the rights and obligations of both parties involved in the sales representative relationship. It outlines the compensation structure and residual payment terms for new customers acquired by the sales representative. 2. Roles and Responsibilities: The agreement clearly defines the roles and responsibilities of the sales representative, including prospecting for new customers, showcasing the company's products or services, negotiating contracts, and maintaining a positive customer relationship. 3. Compensation and Residual Payments: Under this agreement, the sales representative may receive a combination of base salary, commissions, and residual payments. Residual payments are made to the sales representative for each new customer they bring in, even after the termination of their contract. 4. Residual Payment Structure: The agreement specifies the residual payment structure, which may be based on a percentage of the new customer's purchases over a defined period. It may also outline the payment frequency and any additional terms related to residual payments. 5. Termination and Non-Compete Clause: The contract should include provisions that govern the termination of the agreement, such as notice period and grounds for termination. Additionally, a non-compete clause may prevent the sales representative from working for a competitor within a specified geographic area and timeframe after contract termination. Types of Houston Texas 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 within a specific territory, ensuring a higher potential for residual payments. 2. Non-Exclusive Sales Representative Agreement: This agreement allows multiple sales representatives to work simultaneously in the same territory, with their respective residual payments calculated based on their individual sales performance. 3. Commission-Only Sales Representative Agreement: In this type of agreement, the sales representative solely earns commissions on sales made, typically with higher commission rates to incentivize new customer acquisition and increase residual payments. In summary, the Houston Texas Sales Representative Agreement with Residual Payments for New Customers after Contract Terminates is a contract that establishes the rights and obligations of the sales representative and company. It ensures that the sales representative can continue earning residual payments for bringing in new customers even after termination. Various types of agreements exist, including exclusive, non-exclusive, and commission-only agreements, each with their own unique terms.Houston Texas Sales Representative Agreement with Residual Payments for New Customers after Contract Terminates is a legally binding document that outlines the terms and conditions between a company and its sales representative in Houston, Texas. This agreement allows the sales representative to earn residual payments for bringing in new customers even after their contract has ended. Here are some important details to know about this agreement: 1. Purpose: The purpose of this agreement is to establish the rights and obligations of both parties involved in the sales representative relationship. It outlines the compensation structure and residual payment terms for new customers acquired by the sales representative. 2. Roles and Responsibilities: The agreement clearly defines the roles and responsibilities of the sales representative, including prospecting for new customers, showcasing the company's products or services, negotiating contracts, and maintaining a positive customer relationship. 3. Compensation and Residual Payments: Under this agreement, the sales representative may receive a combination of base salary, commissions, and residual payments. Residual payments are made to the sales representative for each new customer they bring in, even after the termination of their contract. 4. Residual Payment Structure: The agreement specifies the residual payment structure, which may be based on a percentage of the new customer's purchases over a defined period. It may also outline the payment frequency and any additional terms related to residual payments. 5. Termination and Non-Compete Clause: The contract should include provisions that govern the termination of the agreement, such as notice period and grounds for termination. Additionally, a non-compete clause may prevent the sales representative from working for a competitor within a specified geographic area and timeframe after contract termination. Types of Houston Texas 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 within a specific territory, ensuring a higher potential for residual payments. 2. Non-Exclusive Sales Representative Agreement: This agreement allows multiple sales representatives to work simultaneously in the same territory, with their respective residual payments calculated based on their individual sales performance. 3. Commission-Only Sales Representative Agreement: In this type of agreement, the sales representative solely earns commissions on sales made, typically with higher commission rates to incentivize new customer acquisition and increase residual payments. In summary, the Houston Texas Sales Representative Agreement with Residual Payments for New Customers after Contract Terminates is a contract that establishes the rights and obligations of the sales representative and company. It ensures that the sales representative can continue earning residual payments for bringing in new customers even after termination. Various types of agreements exist, including exclusive, non-exclusive, and commission-only agreements, each with their own unique terms.
