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Provision: Compensation, Commisions - General

Sample Provision

In full payment for the due and faithful performance of your services and all other rights given to the company hereunder, the company shall pay you a commission at the rate of ____ on direct billings from net receipts from sales obtained by you. All commissions paid are subject to charge back if net receipts from time sales obtained by you are not received within 90 days of the date of invoice in accordance with paragraph 3. The commission will be reinstated if the overdue receipts are received between the 91st and a 120th day. The company has the right to change the commission rates or chargeback structure at any time during the term of this agreement. The servicing of accounts is recognized to be vital in the retention, development and expansion of the company's business, and the commissions payable hereunder are intended to compensate you not only for the procuring of sales, but also for the servicing of accounts. Notwithstanding that an account executive may have been the principal procuring cause of a sale, if an account is transferred thereafter from one account executive to another account executive, the company may apportion the commissions payable on the sale for such account between account executives in such manner as the company, in its sole judgment and discretion, deems fair and reasonable.

Employment Contract Provision Index

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