COMMISSION COMPENSATION AGREEMENT.
This Commission Compensation Agreement (hereinafter referred to as the “Agreement”) is made and entered on this ____ day of _____ 2021 (the “effective date”), between __________________, Contact Infor: ____________________ (hereinafter referred to as the “Contractor”), and _____________, Contact Infor: ____________ (herein referred to as the “Company”).
WHEREAS, this Agreement is for the subletting of the Company boat registered as ________________________.
NOW THEREOF, in consideration of the mutual covenants and promises made by the Parties hereto, the Parties covenant and agree as follows:
The initial term of this Agreement shall be for a period of ________ [Days/Weeks/Months/Years], commencing on the Effective Date herein.
- The Contractor shall provide the customers/clients willing to sublet the Company’s boat, and shall also be responsible for customer service.
- The Contractor shall use pictures of the boats in their portfolio for the purpose of advertisement and marketing.
- All prices for subletting the boats shall be discussed and agreed upon by the Parties before the Contractor sources for the customers.
- COMMISSION COMPENSATION.
The Contractor shall receive 20% commission for each customer/client brought, which shall be 20% of the gross turnover of the boats rental. Payments shall be made every two weeks once the Company provides the Contractor with an invoice.
The Parties understand and acknowledge that the Contractor shall be contracted as a third party between the Company and its customers. The Contractor shall not be held responsible for any damages caused to the boats by the customers, unless such damages are as a result of the Contractor’s negligence. The Company shall indemnify and hold the Contractor harmless for such claims, and all and any related claims shall be taken up with the responsible customer.
- RELATIONSHIP BETWEEN THE PARTIES.
- The Contractor shall be retained as an independent contractor. The Contractor shall be fully responsible for payment of their own income taxes on all compensation earned under this Agreement. The Company shall not withhold or pay any income tax, social security tax, or any other payroll taxes on the Contractor’s behalf during the term of this Agreement.
- The Contractor understands that they shall not be entitled to any fringe benefits that the Company provides for their employees generally or to any statutory employment benefits, including without limitation worker’s compensation or unemployment insurance.
- The Contractor shall not assign their obligations or subcontract their services without prior written notice and/or consent from the Company.
- The waiver by either party of any breach or failure to enforce any of the terms of this Agreement at any time shall not in any way affect, limit, or waive such Party’s right thereafter to enforce and compel strict compliance with every term and condition of this Agreement.
The Parties acknowledge that either Party can cancel this Agreement at any time provided that they issue a ______ Day Written Notice on the same. The Company shall ensure to pay any and all pending payments before the Agreement shall be considered effectively terminated/cancelled.
This Agreement contains the entire Agreement between the Parties relating to the subject matter hereof and supersedes any and all prior agreements or understandings, written or oral, between the parties related to the subject matter hereof. No modification of this Agreement shall be valid unless made in writing and signed by both parties hereto.
- GOVERNING LAW AND JURISDICTION.
This Agreement shall be governed by and construed in accordance with the laws of ___________ [State/Country]. Exclusive jurisdiction and venue shall be in _____________ [State/Country]
Each party represents and warrants to the other that such party has acted in good faith, and agrees to continue to so act, in the negotiation, execution, delivery, performance, and any termination of this Agreement.
IN WITNESS WHEREOF, this Agreement has been executed by the parties as of the Effective Date.
COMPANY: _____________ ________________________ ___________
(SIGNATURE) (NAME) (DATE)
CONTRACTOR: _____________ ________________________ ___________
(SIGNATURE) (NAME) (DATE)
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