The Tiered Commission Agreement is essential for businesses operating in Hong Kong that compensate individuals or entities through graduated commission structures. This document is particularly relevant in sales-driven industries where performance-based compensation is standard practice. It provides a legally compliant framework under Hong Kong law for establishing multiple commission tiers that reward increased performance with higher commission rates. The agreement includes detailed calculations, performance metrics, payment terms, and legal safeguards while ensuring compliance with Hong Kong's employment regulations, contract law, and relevant industry-specific requirements. It's commonly used when companies want to implement sophisticated commission structures that incentivize exceptional performance while maintaining clear, enforceable terms for all parties involved.
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1. Parties: Identification of the company and the commission earner, including their legal status and contact details
2. Background: Context of the agreement, relationship between parties, and purpose of the commission arrangement
3. Definitions: Defined terms including 'Commission Period', 'Gross Sales', 'Net Sales', 'Qualified Transactions', 'Commission Tiers', and other relevant terms
4. Appointment and Scope: Details of the appointment, territory/market coverage, and scope of activities covered by the commission arrangement
5. Commission Structure: Definition of commission tiers, qualification criteria for each tier, and calculation methodologies
6. Performance Targets: Minimum performance requirements, sales targets, and any qualifying criteria for commission eligibility
7. Payment Terms: Commission calculation periods, payment dates, payment methods, and handling of disputed amounts
8. Reporting and Documentation: Requirements for sales reporting, documentation of transactions, and record-keeping obligations
9. Term and Termination: Duration of the agreement, renewal terms, and grounds for termination
10. Post-Termination: Treatment of pending commissions and ongoing obligations after termination
11. Confidentiality: Protection of confidential information and trade secrets
12. General Provisions: Standard legal clauses including governing law, notices, amendments, and dispute resolution
1. Non-Compete and Non-Solicitation: Restrictions on competitive activities and customer solicitation, included when the commission earner has significant customer contact
2. Training and Support: Details of company-provided training and support, included when the company offers specific programs
3. Expenses and Reimbursement: Terms for business expense coverage, included when the commission earner is entitled to expense reimbursement
4. Insurance Requirements: Required insurance coverage, included when the commission earner needs specific insurance
5. Intellectual Property Rights: IP ownership and usage rights, included when the role involves creation or use of IP
6. Data Protection: Specific data handling requirements, included when the role involves significant customer data
7. Compliance Requirements: Industry-specific compliance obligations, included for regulated industries
8. Force Majeure: Provisions for unforeseen circumstances, included when needed for market volatility
1. Schedule 1 - Commission Tiers and Rates: Detailed breakdown of commission tiers, rates, and calculation methods with examples
2. Schedule 2 - Performance Targets: Specific sales targets, KPIs, and measurement criteria
3. Schedule 3 - Territory/Product Coverage: Detailed description of geographical territory and/or product lines covered
4. Schedule 4 - Reporting Templates: Standard forms and templates for sales reporting and commission calculations
5. Schedule 5 - Special Promotions and Incentives: Details of any additional incentive programs or special commission arrangements
6. Appendix A - Code of Conduct: Company policies and ethical standards applicable to the commission earner
7. Appendix B - Compliance Procedures: Step-by-step procedures for compliance with relevant regulations
Relevant legal definitions
Clauses
Relevant Industries
Real Estate
Financial Services
Insurance
Retail
Technology Sales
Telecommunications
Advertising and Marketing
Professional Services
Automotive
Luxury Goods
Manufacturing
Pharmaceutical Sales
Import/Export
Relevant Teams
Sales
Business Development
Channel Management
Account Management
Commercial Operations
Legal
Human Resources
Finance
Compensation & Benefits
Compliance
Operations
Relevant Roles
Sales Representative
Business Development Manager
Account Executive
Sales Director
Regional Sales Manager
Commission-based Consultant
Sales Agent
Channel Partner Manager
Territory Manager
Product Specialist
Real Estate Agent
Insurance Broker
Financial Advisor
Marketing Representative
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