The Commission Pay Agreement is a crucial document for businesses operating in Hong Kong that compensate employees through commission-based structures. This agreement is typically used when establishing new commission-based employment relationships or formalizing existing arrangements, ensuring compliance with Hong Kong employment laws and regulations. The document addresses key aspects such as commission calculation methods, payment terms, performance targets, and reporting requirements, while incorporating necessary protections for both employer and employee. It's particularly relevant in industries where variable compensation is common, such as sales, real estate, and financial services. The agreement must align with Hong Kong's Employment Ordinance and related legislation, including provisions for minimum wage protection and wage payment regulations.
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1. Parties: Identification of the employer and employee, including full legal names and addresses
2. Background: Context of the employment relationship and purpose of the commission agreement
3. Definitions: Definitions of key terms used throughout the agreement, including 'Commission', 'Sales', 'Revenue', etc.
4. Commission Structure: Detailed explanation of how commission is calculated, including rates, tiers, and qualifying criteria
5. Payment Terms: Timing and method of commission payments, including any minimum guarantees or advances
6. Performance Targets: Any sales targets or performance metrics that affect commission eligibility
7. Reporting and Documentation: Requirements for sales reporting and record-keeping
8. Clawback Provisions: Circumstances under which commission may be reclaimed or adjusted
9. Term and Termination: Duration of the agreement and conditions for termination
10. General Provisions: Standard contractual clauses including governing law, amendments, and notices
1. Team Sales and Shared Commission: Rules for commission splitting when multiple employees are involved in a sale
2. International Sales: Special provisions for international transactions including currency conversion
3. Non-Competition and Non-Solicitation: Restrictions on employee's activities during and after employment
4. Dispute Resolution: Specific procedures for resolving commission-related disputes
5. Training and Support: Company's obligations to provide sales training and support
6. Expenses and Reimbursement: Treatment of sales-related expenses in commission calculations
7. Benefits and Insurance: Additional benefits related to commission-based employment
1. Schedule 1 - Commission Rates: Detailed breakdown of commission rates, tiers, and any multipliers
2. Schedule 2 - Product/Service List: List of products/services eligible for commission and their specific rates
3. Schedule 3 - Commission Calculation Examples: Practical examples showing how commission is calculated in various scenarios
4. Schedule 4 - Sales Territory: Definition of geographical or customer territory if applicable
5. Schedule 5 - Performance Metrics: Detailed KPIs and measurement criteria
6. Schedule 6 - Reporting Templates: Standard forms for sales reporting and commission claims
7. Schedule 7 - Payment Schedule: Timeline of commission payments and processing dates
Relevant legal definitions
Clauses
Relevant Industries
Real Estate
Financial Services
Insurance
Retail
Technology Sales
Telecommunications
Automotive Sales
Recruitment
Advertising
Manufacturing
Pharmaceutical Sales
Professional Services
Relevant Teams
Sales
Business Development
Account Management
Human Resources
Finance
Legal
Payroll
Compliance
Operations
Relevant Roles
Sales Representative
Business Development Manager
Real Estate Agent
Insurance Agent
Account Executive
Sales Director
Commission-based Consultant
Recruitment Consultant
Financial Advisor
Sales Manager
Territory Manager
Channel Partner Manager
Business Development Executive
Marketing Representative
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