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.
If this agreement is terminated by the company on 14 days notice, the company will pay commission as provided above on net sales from sales in connection with orders made before such termination when and as collected on the date of the company’s normal pay cycle.
If this agreement is terminated by the company for cause or terminated by you, commission shall be due or payable to you only with respect to any net sales from sales obtained by you that the company received on or before the effective dates of such termination or at a time in the company’s sole discretion and judgment.
The company may assert against you any and all rights that it has or may have as a result of your actions resulting in the termination of this agreement for cause.
If this agreement is terminated by you on 14 days notice, the company may, in its sole judgment and discretion, terminate this agreement at any time during such notice period in which event the company will pay commissions, as hereinabove defined, on “net sales” in connection with sales made until midnight on the date of such termination, when and as collected, subject to the current company collection deadlines.
In no event will the company pay, or will you be entitled to receive any commissions on net sales from sales in connection with any sales made after termination of your employment with the company, whether such termination is by you or by company and whether it is for cause or not.
In the event this agreement expires or is terminated, you should promptly return to company all property of company then in your custody, possession or control.