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Commission Employment Contract
"I need a Commission Employment Contract for a senior sales representative in the financial services industry, with a 70-30 commission-base salary split and team override provisions, starting March 1, 2025."
1. Parties: Identification of the employer and employee with full legal names and addresses
2. Background: Context of the employment relationship and brief description of the business
3. Definitions: Key terms used throughout the agreement, including commission-specific terminology
4. Appointment and Term: Position title, employment status, and duration (fixed-term or indefinite)
5. Duties and Responsibilities: Detailed description of the employee's role, reporting structure, and performance expectations
6. Commission Structure: Core commission calculation methodology, payment terms, and conditions for earning commission
7. Base Salary and Benefits: Any fixed compensation components and standard benefits package
8. Working Hours and Location: Expected working hours, place of work, and travel requirements
9. Leave Entitlements: Annual leave, sick leave, and other statutory leave entitlements
10. Confidentiality: Protection of company confidential information and trade secrets
11. Non-Competition and Non-Solicitation: Post-employment restrictions on competitive activities
12. Termination: Grounds for termination, notice periods, and commission treatment upon termination
13. Governing Law: Specification of Hong Kong law and jurisdiction
1. International Sales: Include when employee will handle international clients, covering currency conversion and international commission structures
2. Team Management: Include when employee will manage other sales staff, including override commissions
3. Draw Against Commission: Include if offering guaranteed minimum drawings against future commission
4. Remote Work Provisions: Include if allowing regular remote work arrangements
5. Split Commissions: Include rules for sharing commissions between multiple sales representatives
6. Intellectual Property: Include if employee will be involved in creating sales materials or methodologies
7. Data Protection: Include detailed data handling requirements if dealing with sensitive customer data
8. Expense Reimbursement: Include if offering specific expense allowances or reimbursement policies
1. Commission Calculation Schedule: Detailed commission rates, tiers, and calculation examples
2. Territory Definition: Geographic or account assignments and any territory-specific commission structures
3. Performance Metrics: Specific KPIs, targets, and measurement criteria
4. Benefits Schedule: Detailed description of all benefits, insurance coverage, and MPF arrangements
5. Product Commission Matrix: Different commission rates for various products or services
6. Clawback Terms: Conditions and calculations for commission clawbacks or adjustments
7. Sales Process Guidelines: Required procedures for sales documentation and approval
8. Bonus Structure: Any additional incentive programs or bonus opportunities
Authors
Base Salary
Business Day
Commission
Commission Period
Confidential Information
Customer
Draw
Effective Date
Employment Period
Gross Sales
Group
Net Sales
Performance Targets
Products
Qualified Sale
Rate of Commission
Reserved Commission
Sales Territory
Services
Termination Date
Transaction
Commission Payment Date
Clawback Period
Split Commission
Override Commission
Probationary Period
Target Achievement
Quarter
Year of Assessment
Pipeline Sales
Booking
Closing
Company
Employee
Intellectual Property Rights
Non-Competition Period
Prospective Customer
Relevant Business
Sales Credit
Commission Threshold
Accelerator Rate
Monthly Draw
Payment Terms
Commission Cap
Performance Metrics
Term
Probation
Duties and Responsibilities
Commission Structure
Base Salary
Performance Targets
Working Hours
Place of Work
Leave Entitlements
Benefits
Expenses
Commission Payment
Commission Calculation
Clawback
Territory Assignment
Reporting Requirements
Confidentiality
Data Protection
Intellectual Property
Non-Competition
Non-Solicitation
Non-Dealing
Termination
Summary Dismissal
Garden Leave
Post-Termination Obligations
Company Property
Grievance Procedures
Dispute Resolution
Governing Law
Entire Agreement
Amendments
Severability
Force Majeure
Notice
Assignment
Third Party Rights
Counterparts
Mandatory Provident Fund
Commission Reporting
Sales Documentation
Customer Relationships
Training Requirements
Split Commission Arrangements
Override Commission
Draw Against Commission
Commission Disputes
Real Estate
Financial Services
Insurance
Retail
Technology Sales
Automotive
Telecommunications
Professional Services
Manufacturing
Pharmaceutical Sales
Media and Advertising
Travel and Tourism
Sales
Business Development
Account Management
Client Relations
Channel Management
Revenue
Commercial
Distribution
Retail Operations
Agency Management
Sales Representative
Account Executive
Business Development Manager
Sales Manager
Real Estate Agent
Insurance Agent
Financial Advisor
Sales Director
Regional Sales Manager
Commission-based Consultant
Relationship Manager
Territory Manager
Channel Sales Manager
Inside Sales Representative
External Sales Representative
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