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 Info: _________________ (hereinafter referred to as the “Company”), and _____________, Contact Info: ____________ (herein referred to as the “Venue”).
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 Company sales and marketing opportunities for the Venue on the Company’s website https://www.jetsetnyc.com The Company provides potential clients with information about the Venue in order to gain bookings for the Venue.
The Venue shall pay the Company 10% of every successful booking made by the Company, payment shall be made from the 50% non-refundable down-payment made by potential clients when booking the Venue. The balance shall be 10% shall be paid from the balance once the event has been completed. All payments shall be made no later than 30 days up on the completion of each event.
- RELATIONSHIP BETWEEN THE PARTIES.
The relationship between the Parties is based on independent contractor arrangement. The Company shall be fully responsible for payment of their own income taxes on all compensation earned under this Agreement. The Venue shall not withhold or pay any income tax, social security tax, or any other payroll taxes on the Company’s behalf during the term of this Agreement.
- This Agreement shall be binding upon and inure to the benefit of the Company and the Venue and their respective successors and assigns, provided that the Venue may not assign any of their obligations under this Agreement without the Company’s prior written consent.
- The waiver by either party of any breach or failure to enforce any of the terms and conditions 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.
Parties agree that either Party can terminate/cancel this Agreement at any given time, provided that the intending Party provides the other Party a ______ Day Written Notice on the termination/cancellation. The Venue shall ensure to pay the Company from of any and all of the referrals covered herein before the termination/cancellation is made effective.
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/JURISDICTION.
This Agreement shall be governed by and construed in accordance with the laws of __________________ [State/Country]. The 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)
VENUE: _____________ ________________________ ___________
(SIGNATURE) (NAME) (DATE)
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