COMMISSION SHARING AGREEMENT.
This Commission Sharing Agreement (hereinafter referred to as the “Agreement”) is
entered into on this ________ day of __________ 20__by and between
_______________________ (hereinafter referred to as the “Business”) and
__________________ (hereinafter referred to as the “Agent”). Together referred to
as “parties.”
WHEREAS the parties agree to be mutually bound by the terms and obligations
provided hereunder; –
1. Purpose.
Parties agree that the Agent shall look and refer buyers on behalf of the business for
purchase.
2. Term.
The parties agree that the provisions of this agreement shall be existence as long as
the business has not been purchased.
3. Payment.
The parties agree that the agent shall be compensated a commission of _____% of
the business’s percentage of the purchase price.
The amount shall be paid to the agent within 7 days after the deal has been
completed, and the business has been paid in full.
4. Communication.
The Agent agrees and undertakes not to talk to or approach the seller directly under
any circumstances.
5. Dispute Resolution.
If any dispute arises regarding the provisions of this agreement, the same shall be
negotiated in the first instance between the parties; if it fails, the argument shall be
taken to litigation in accordance with the applicable laws.
The parties shall cater to their legal costs.
6. Modification.
The parties herein may only modify or amend the terms herein by the same being
reduced into writing and signed by both parties willingly.
7. Waiver.
The parties agree that no waiver of the rights under this agreement shall be
construed as a continuing waiver or as consent to any future or subsequent
breaches.
8. Entire Agreement.
This agreement constitutes the entire agreement between the parties herein and
supersedes any prior oral or written agreements or promises.
9. Severability.
Suppose any provision of this agreement is deemed invalid or unenforceable by a
court of competent jurisdiction. In that case, the same shall be severed from this
agreement, and the remaining provisions shall continue in existence and full force
and effect.
10. Acceptance.
By the parties signing herein below, they accept to be legally bound by the terms and
provisions of this agreement.
By the Business; –
Name:
_____________________________
Designation:
________________________
Signature:
__________________________
Date:
______________________________
By the Agent; –
Name:
_____________________________
Designation:
________________________
Signature:
__________________________
Date:
______________________________
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