Benefits And Commission Contract Template for Hong Kong

This Benefits And Commission Contract is designed for use in employment relationships where variable compensation forms a significant part of the total remuneration package, alongside a structured benefits program. The document is specifically tailored to comply with Hong Kong employment law and regulatory requirements, including the Employment Ordinance and Mandatory Provident Fund regulations. It is typically used when engaging sales professionals, business development executives, or other roles where performance-based pay is standard practice. The contract provides comprehensive coverage of commission calculations, payment terms, clawback provisions, and a full range of employee benefits, while ensuring protection for both employer and employee interests in the Hong Kong business context.

1. Parties: Identification of the employer and employee, including full legal names and addresses

2. Background: Context of the employment relationship and purpose of the agreement

3. Definitions: Definitions of key terms used throughout the agreement, including commission-related terminology and benefits definitions

4. Appointment and Term: Details of the employment position, commencement date, and duration of the agreement

5. Commission Structure: Core commission calculation methodology, payment terms, and conditions for earning commission

6. Basic Salary and Benefits Package: Details of base salary (if any) and comprehensive benefits package

7. Performance Targets: Specified sales or performance targets that affect commission earnings

8. Payment Terms: Timeline and method of commission payments, including any deferral or clawback provisions

9. Benefits Details: Comprehensive outline of all benefits including healthcare, insurance, MPF contributions, and other perks

10. Obligations and Duties: Employee's responsibilities and performance expectations

11. Termination Provisions: Conditions for termination and impact on commission and benefits

12. Post-Termination Obligations: Non-compete, confidentiality, and other post-employment restrictions

13. Governing Law: Specification of Hong Kong law as governing law and jurisdiction

14. General Provisions: Standard boilerplate clauses including entire agreement, amendments, and notices