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.
San Antonio Texas Sales Representative Agreement with Residual Payments for New Customers after Contract Terminates is a legally binding contract between a sales representative and a company based in San Antonio, Texas. This agreement outlines the terms and conditions under which the sales representative will represent the company, sell its products or services, and receive residual payments for acquiring new customers even after the contract terminates. The objective of this agreement is to provide a fair compensation structure that rewards sales representatives for their efforts in bringing in new customers, even if they are no longer actively working for the company. By providing residual payments, the company aims to incentivize sales representatives to build long-term customer relationships and ensure continued growth and revenue even after the sales representative departs. There may be different types of San Antonio Texas Sales Representative Agreements with Residual Payments for New Customers after Contract Terminates, which can vary based on the specific terms established between the sales representative and the company. Some key variations may include: 1. Commission Structure: The agreement may specify a percentage or fixed amount of commission that the sales representative will receive for each new customer acquired. This commission could be a one-time payment or recurring payment over a specified period. 2. Duration of Residual Payments: The agreement might define the duration for which the sales representative will receive residual payments after the contract terminates. It could be a fixed period or extend indefinitely until the customer terminates the association with the company. 3. Terms of Customer Acquisition: The agreement may outline the specific criteria for considering a customer "new" and eligible for residual payments. This could include factors such as the customer's initial purchase, contract length, or continued engagement with the company. 4. Termination Clause: The agreement might include provisions outlining the circumstances under which either party can terminate the agreement. This clause may specify whether residual payments will continue after termination and under what conditions. 5. Non-Compete Agreement: Some sales representative agreements may include non-compete clauses, preventing the sales representative from working for a competitor or engaging in similar sales activities within a defined geographical area for a specified period after the termination of the agreement. It is crucial for both parties involved, the sales representative and the company, to carefully review and negotiate the terms of the agreement to ensure mutual understanding and satisfaction. Seeking legal advice before entering into such an agreement is highly recommended ensuring compliance with local laws and regulations governing sales representative agreements in San Antonio, Texas.
