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.
Wisconsin Sales Representative Agreement with Residual Payments for New Customers after Contract Terminates is a legal agreement between a company or principal and a sales representative based in Wisconsin. This agreement outlines the terms and conditions under which the sales representative will promote and sell the principal's products or services to new customers within the state of Wisconsin. Keywords: Wisconsin, sales representative agreement, residual payments, contract terminates, new customers In this type of agreement, the sales representative is typically provided with the exclusive right to represent the principal's products or services within a defined territory in Wisconsin. The agreement specifies the responsibilities of both parties, including the sales targets, marketing and promotional activities, and the obligations to maintain customer relationships. The key feature of this agreement is the provision for residual payments to the sales representative after the contract's termination. Residual payments are compensation paid to the sales representative for any new customers they bring to the principal during the term of the agreement and continue to generate sales for the principal after the contract ends. These payments are usually calculated as a percentage of the sales generated by those new customers during a specified period of time. Different types of Wisconsin Sales Representative Agreement with Residual Payments for New Customers after Contract Terminates may include: 1. Exclusive Sales Representative Agreement: This agreement grants the sales representative exclusive rights to represent the principal's products or services within a specific territory in Wisconsin. Residual payments are made for new customers generated by the sales representative within the agreed territory. 2. Non-exclusive Sales Representative Agreement: This agreement allows the sales representative to represent the principal's products or services alongside other sales representatives within Wisconsin. Residual payments are made for new customers generated by the sales representative within their assigned territory. 3. Product-Specific Sales Representative Agreement: This type of agreement focuses on the representation of a specific product or line of products within Wisconsin. Residual payments are made for new customers brought in by the sales representative specifically for that product or product line. 4. Service-based Sales Representative Agreement: This agreement pertains to sales representatives representing services rather than tangible products. Residual payments are made for new customers that the sales representative brings in for the principal's services, and who continue to generate revenue after the contract ends. It is crucial for both parties to clearly outline the terms related to residual payments, including the percentage or formula used to calculate the payments, the duration for which residuals will be paid, and any conditions that may affect the entitlement to such payments. When entering into a Wisconsin Sales Representative Agreement with Residual Payments for New Customers after Contract Terminates, it is advisable for both the principal and sales representative to seek legal advice to ensure that the agreement aligns with state laws and protects the interests of both parties.
