TENNESSEE REAL ESTATE INVESTMENT
(THE “EMPLOYER”/ “COMPANY”)
THIS AGREEMENT is made on the …………. day of……….20……., entered into by the Employer of _____________________________(address) and the Employee of ______________________(address) (Employer and Employee collectively referred to as the “Parties” or individually as the “Party”) and includes that Party’s successors and assigns.
WHEREAS the Employer desires to retain the services of the Employee, and the Employee desires to render such services, these terms and conditions are set forth.
IN CONSIDERATION of this mutual understanding, the parties agree to the following terms and conditions:
- COMMENCEMENT AND DURATION
This agreement shall be valid from _________________________until _________________________.
The Employee agrees that they will faithfully and to the best of their ability to carry out the duties and responsibilities communicated to them by the Employer. The Employee shall comply with this agreement, all Employer policies, rules, and procedures and the industry standards at all times.
As a ______________________________[job title], it is the duty of the Employee to perform all essential job functions and duties. From time to time, the Employer may also add other duties within the reasonable scope of the Employee’s work. The Employee accepts employment with the Employer on the terms and conditions outlined in this contract and agrees to devote their time and attention to the professional performance of their duties.
Some Employee duties include;
- Be respectful of your peers and clients.
- Market dealings only after a signed agreement with the property owner.
- When marketing, you must identify the Company name and your affiliation with the Company.
- Compliance with all digital, mobile, and marketing laws without exception.
- Market all acquired leads in the Employer’s best interests, no backdooring.
- Before any agreements with clients may be established, the administrator must authorize all leads.
- All funds distributed to members for marketing reasons must be used only for marketing purposes.
- Passwords, emails, PINS, or any other form of login or security may not be altered by a member unless Administrator authorizes it.
As compensation for the services provided, the Employee shall be paid as follows;
- 1st Purchase and Sale Signed of the month=60% of the wholesale fee on date of closing.
- 2nd Purchase and Sale Signed of the month= 70% of that wholesale fee on date of closing.
- 3rd Purchase and Sale Signed of the month= 80% of that wholesale fee on date of closing.
- Any purchase and sale agreements signed after the 3rd signed agreement of the month= 80% of that wholesale fee on closing date.
After that month is complete, compensation will start over at 60% and continue the same cycle previously stated.
All payments shall be subject to mandatory employment deductions (State & Federal Taxes, Social Security, Medicare).
The Employee has the right to participate in any benefits plans offered by the Employer. Access to these benefits will only be possible after the probationary period has passed.
The Employer currently offers the following benefits: [list benefits, if any].
- PROBATIONARY PERIOD
It is understood that the first _____________months of employment constitutes a probationary period. During this time, the Employee is not eligible for paid time off or other benefits.
- PAID TIME OFF
Following the probationary period, the Employee shall be eligible for the following paid time off:
• ______________vacation days.
• _______________sick/personal days
• Bereavement leave may be granted if necessary.
The Employer reserves the right to modify any paid time off policies.
- LIABILITY OF THE PARTIES
- A Party shall be compensated for damages caused by the other Party.
- No Party shall be held liable for any damages, where:
- the damage has been occasioned by the other Party, their representatives, employees, or agents, and
- the damage has been caused by an event beyond the control of the Party, e.g., force majeure or accidents provided that the Party has taken all reasonable precautions, due care, reasonable alternative measures, and minimal delay all to carry out the terms of this agreement.
- The Employer shall not be liable for any damages incurred by the Employee under this agreement unless otherwise stated. The Employee hereby indemnifies and holds harmless the Employer and any party who may claim through the Employer against any claims arising from this agreement unless otherwise expressed.
The Employee shall not be entitled to reimbursement for any expenses except those previously approved in writing by the Employer.
During your time of Employment with the Employer, you may not engage in any work for another Employer that is related to or in competition with the Employer. You will fully disclose to your Employer any other Employment relationships that you have, and you will be permitted to seek other employment provided that:
(a) it does not detract from your ability to fulfill your duties; and
(b) you are not assisting another organization in competing with the Employer.
Specifically, and without limiting the generality of the foregoing, no real estate related side companies, businesses, or profit organizations can be performed or operated within or parallel to the Employer.
The Employee shall not interfere with the Employer’s relationship with, or endeavor to entice away from the Employer, the Employer’s clients, or any person who had a material business relationship with the Employer in the duration of this agreement.
The Employee shall not directly or indirectly engage in the businesses in which the Employer engages in or in which the Employer has an actual intention, to engage in, within ____________miles from the premises in which the Employer is then conducting such business for (2) years after the termination of this agreement.
- INTELLECTUAL PROPERTY (select one)
☐ The Employer agrees that any intellectual property and associated rights owned, discovered, or developed by the Employee, solely or jointly with others, in connection with their services performed under this agreement, are the Employee’s exclusive property.
☐ Employee agrees that any intellectual property and associated rights owned, discovered, or developed by them, solely or jointly with others, in connection with their services performed under this agreement, shall constitute works for hire and shall automatically, upon their creation or discovery, become the exclusive property of the Employer.
The Employee shall not transfer or assign this agreement without the Employer’s consent. However, the Employer may transfer or assign this agreement or subcontract its obligations hereunder at any time without the Employee’s consent. If the Employer does so, anyone to whom the Employer transfers, assigns, or subcontracts any or all of its obligations will have all of the Employer’s rights to such obligations.
- RETURN OF THE PROPERTY
The Employee agrees to return any Employer property upon termination or demand by the Employer. All property should be returned in the same condition it was in at issuance failure to which damages shall become payable. Reasonable wear and tear will be allowed.
- DISPUTE RESOLUTION
Parties agree to settle disputes under this agreement through Mediation.
- COURT COSTS AND ATTORNEYS’ FEES
In any action under this agreement, the prevailing Party shall be entitled to recover costs of court and reasonable attorneys’ fees from the other Party, which fees shall be in addition to any other relief that may be awarded.
Both Parties intend to form a long and mutually profitable relationship. However, this relationship may be terminated by either Party at any time for breach provided __________days written notice is delivered to the other Party. If a Party wishes to terminate the contract with less than these stated days, the other Party reserves the right to charge costs that they have already paid in advance or incurred.
As an Employee, you will have access to Employer information that is the property of the Employer. You are not permitted to disclose this information, whether such information is stated to be confidential or not, without the express written permission of the Employer unless otherwise provided by law.
You shall not use for personal use or allow others to use the Employer’s information to the detriment of the Employer. You shall only use the Employer’s information to execute your duties under this agreement.
This contract represents the entire agreement between the two parties and supersedes any previous written or oral agreement. This agreement may be modified at any time, provided the written consent of both the Employer and the Employee.
- LEGAL AUTHORIZATION
The Employee agrees that they are fully authorized to work in the United States (US) and can provide proof of this with legal documentation. This documentation will be obtained by the Employer for legal records.
The parties agree that if any portion of this contract is found to be void or unenforceable, it shall be struck from the record, and the remaining provisions will retain their full force and effect.
This contract shall be governed, interpreted, and construed in accordance with the laws of the State of Tennessee without regard to its conflicts of law provisions.
Both parties whose signatures appear below hereby warrant that they are fully authorized and entitled to enter into this agreement and do so agree on the dates written below by affixing their signatures below.
Employer Official Signature
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