This agreement is for a term of years and terminable at will after the initial term. Sales Representative is to receive a residual commission for sales to new customer (those he brings to the Company) for a certain number of years after this Agreement has expired or been terminated. The appointment of sales representative is nonexclusive since the sale representative will sell for more than one company.
This form is a generic example that may be referred to when preparing such a form for your particular state. It is for illustrative purposes only. Local laws should be consulted to determine any specific requirements for such a form in a particular jurisdiction.
A Florida Sales Representative Agreement with Residual Payments for New Customers after Contract Terminates is a legally binding contract that outlines the terms and conditions between a sales representative and a company based in Florida. This agreement specifically includes provisions for residual payments, which are commissions or bonuses that the sales representative will continue to receive even after the termination of the contractual relationship. Here are some relevant keywords and details for this type of agreement: 1. Purpose: This agreement establishes the working relationship between the sales representative and the company for the purpose of generating sales and acquiring new customers within the state of Florida. 2. Residual Payments: The agreement specifies that the sales representative will receive residual payments for sales made to new customers after the contract terminates. These residual payments are typically a percentage of the total sales revenue generated from these customers. 3. Commission Structure: The agreement will outline the commission structure, including the specific percentages or rates at which commissions are calculated. It may also include details on when commissions are paid, such as monthly or quarterly. 4. Termination Clause: The agreement will include a section that outlines the circumstances under which the contract can be terminated, both by the sales representative or the company. It will also specify the notice period required for termination. 5. Non-Compete and Non-Disclosure: To protect the company's interests, the agreement may include provisions regarding non-compete and non-disclosure obligations. This aims to prevent the sales representative from engaging in competing activities or disclosing confidential information of the company during and after the contractual relationship. 6. Territory and Clientele: The agreement may define the specific territory in which the sales representative is authorized to operate and acquire new customers. It may also limit the sales representative's scope to certain industries or target markets. 7. Intellectual Property: To avoid any disputes over ownership and usage rights, the agreement may address the ownership and transfer of intellectual property related to the sales process, marketing materials, or customer databases. Types of Florida Sales Representative Agreements with Residual Payments for New Customers after Contract Terminates: 1. Exclusive Sales Representative Agreement: This type of agreement grants exclusivity to the sales representative for a specific product or product category within a defined territory in Florida. 2. Non-Exclusive Sales Representative Agreement: Unlike the exclusive agreement, this type allows the company to appoint multiple sales representatives to sell its products within the same territory. 3. Independent Contractor Agreement: This agreement establishes the sales representative as an independent contractor rather than an employee of the company. It clarifies the responsibilities and liabilities of both parties while ensuring compliance with Florida labor laws. 4. Sales Agency Agreement: This agreement establishes a formal agency relationship between the sales representative and the company. It grants the representative the authority to act on behalf of the company, negotiate contracts, and make sales decisions. In summary, a Florida Sales Representative Agreement with Residual Payments for New Customers after Contract Terminates is a contractual agreement that outlines the terms and conditions between a sales representative and a Florida-based company. By including provisions for residual payments, the agreement ensures that the sales representative continues to receive compensation for sales made to new customers even after the contractual relationship ends. Different types of agreements can be tailored to suit the specific business needs and circumstances, such as exclusive or non-exclusive arrangements, independent contractor agreements, or sales agency agreements.
