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Incentive Agreement
"I need an Incentive Agreement for our Singapore sales team that includes quarterly performance targets and a commission structure of 2% for achieving base targets and up to 5% for exceeding targets, starting from January 2025."
1. Parties: Identification of contracting parties and their details
2. Background: Context and purpose of the incentive agreement
3. Definitions: Key terms used throughout the agreement
4. Incentive Structure: Details of the incentive program, including targets and metrics
5. Payment Terms: Timing and method of incentive payments
6. Performance Criteria: Specific targets or goals that trigger incentive payments
7. Term and Termination: Duration of agreement and termination provisions
8. Governing Law: Specification of Singapore law as governing law
1. Clawback Provisions: Recovery of payments in specific circumstances - used for senior executive agreements or high-value incentives
2. Non-Competition: Restrictions on competitive activities - used for senior employees or sensitive positions
3. International Provisions: Specific terms for cross-border arrangements - used when incentive scheme involves multiple jurisdictions
4. Tax Provisions: Specific tax treatment and obligations - used for complex incentive structures or international arrangements
1. Performance Metrics Schedule: Detailed breakdown of performance targets and calculation methodologies
2. Payment Schedule: Timeline and structure of incentive payments
3. Calculation Examples: Examples illustrating how incentives are calculated
4. Eligible Positions Appendix: List of positions or roles covered by the incentive scheme
5. Compliance Requirements: Specific regulatory or internal compliance requirements
Authors
Applicable Law
Base Salary
Board
Business Day
Cause
Company
Confidential Information
Effective Date
Eligible Employee
Employment Agreement
Financial Year
Group
Incentive Payment
Incentive Period
KPIs
Material Breach
Measurement Period
Notice
Performance Criteria
Performance Metrics
Performance Targets
Plan
Qualifying Event
Related Corporation
Relevant Authority
SGD
Singapore Dollars
Subsidiary
Target Amount
Term
Termination Date
Territory
Threshold Performance
Vesting Date
Vesting Period
Working Hours
Eligibility
Performance Criteria
Incentive Structure
Calculation Method
Payment Terms
Vesting Conditions
Clawback Rights
Term and Duration
Termination Rights
Confidentiality
Non-Competition
Non-Solicitation
Tax Treatment
CPF Contributions
Compliance Requirements
Record Keeping
Amendment Rights
Assignment
Force Majeure
Notices
Severability
Entire Agreement
Governing Law
Dispute Resolution
Data Protection
Third Party Rights
Counterparts
Time of Essence
Good Faith
Change of Control
Representations and Warranties
Intellectual Property
Auditing Rights
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