COMPENSATION AGREEMENT

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Samples legal papers
March 6, 2023

COMPENSATION AGREEMENT

This Compensation Agreement effective as of ____________________ (“Effective Date”) is entered into by and between __________________________ (“Service Provider”) AND _________________________ (“Company/Client”). Individually referred to as ‘Party’ and collectively referred to as ‘Parties’. The Parties intend to be legally bound as follows:

  1. Services. Whereas, the Service Provider provided the following services: ___________________________________
  2. Compensation. In consideration of the services provided, the service provider will be compensated as follows:
  1. SGD 1000 per month for his 6 months’ work
  2. 5% commissions for NWH sales
  3. 20% commission for UVentures sales
  4. In future, if the Company makes the first 100k Profit, he will get SGD 6k
  5. In future, if the Company makes the second 100k Profit, he will get another SGD 6k
  6. In future, if the Company makes the third 100k Profit, he will get the last SGD 6k.

The profit of the Company will be reviewed every 6 months. And, the Service Provider will receive payment through bank transfer.

  1. Non-solicitation. The Service Provider agrees to not directly or indirectly, (a) hire, engage or solicit to hire or engage any individual who is engaged as an employee or contractor of the Company, (b) otherwise induce or attempt to induce any individual who is engaged as a contractor or consultant or employed by the Company to terminate such engagement or employment, (c) in any way interfere with the relationship between the Company and any individual who is engaged as a contractor or consultant or employed by the Company; (d) contact, solicit, divert, appropriate or call upon with the intent of doing business with any customer of the Company. 
  2. Non-Defamation. The Service Provider shall not at any time, directly or indirectly, in public or private, in any manner or in any medium whatsoever, deprecate, impugn or otherwise make any comment, writings, remarks or other expressions that would, or could be construed to defame the Company.
  3. Governing Law. This Agreement shall be construed and interpreted according to the laws of Singapore. 

IN WITNESS WHEREOF, the parties affix their signature as follows:

Name: ___________________

Signature: ________________

Date: ____________________

Name: ___________________

Signature: ________________

Date: ____________________

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