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Sales Executive Incentive Agreement

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The employer and the executive
The incentive scheme

Step 1 of 2

The employer and the executive

City or town where this is signedNeeded

For example: Mohali

Where the property or the business isNeeded

Punjabthe Union Territory of Chandigarh

Name of the employerNeeded

For example: Bansal Property Consultants

Address of the employerNeeded

House / flat / plot no.

Street, sector or locality

City area and PIN code

Name and position of the person signing for the employerNeeded

For example: Mr Rajinder Kumar Bansal, Proprietor

Full name of the sales executiveNeeded

For example: Amandeep Kaur Sidhu

Address of the sales executiveNeeded

House / flat / plot no.

Street, sector or locality

City area and PIN code

The executive's job titleNeeded

For example: Senior Sales Executive

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Date of signingNeeded

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SALES EXECUTIVE INCENTIVE AGREEMENT

The incentive a salaried sales executive earns on closed deals, on top of salary

Executed at __________ on __________.

Parties

1. The Employer — __________, of __________, acting through __________ ("the Employer").

2. The Executive — __________, of __________, employed as __________ ("the Executive").

1. This agreement and the employment

1.1 The Executive is the Employer's employee. This agreement adds an incentive to the Executive's pay. It does not replace the appointment letter or change the Executive's salary, leave or other terms, which stay as the appointment letter and the law provide.

1.2 Nothing here reduces any right the Executive has under any labour or wages law.

2. The scheme period

3. The incentive

3.4 Where two or more executives worked on a deal, the incentive is divided between them as the Employer decides in writing, fairly and on the record of who did what.

4. Payment

4.2 The Employer will deduct tax at source and other deductions the law requires, and will give the Executive a statement showing each deal and the incentive on it.

4.3 If the Executive disputes the statement, the Executive will say so in writing within thirty days of receiving it, and the Employer will answer in writing with the figures.

5. If a deal is cancelled

6. If the Executive leaves

6.1 On the last working day, the incentive on every deal that has already qualified remains payable at the usual time.

6.3 The Executive will leave all client lists, files and papers with the Employer. This clause does not restrain the Executive from working elsewhere.

7. Conduct

7.1 The Executive will give clients true information, will not take any money for a transaction in the Executive's own name, and will follow the Employer's lawful instructions.

7.2 The Employer may change or end the scheme for deals that qualify after the change, by giving thirty days' written notice. A change does not take away an incentive already earned.

8. General

8.2 A notice under this agreement is given in writing, by hand or by email, to the address given above.

Personal data

The names, addresses, telephone numbers and email addresses in this document are collected only for the purpose of this document and the transaction it records. Each party keeps a copy. It will not be used for marketing or shown to anyone except the parties, their advisers and any authority or court that requires it. A party may ask the other to correct it or, once the purpose has ended, to erase it, as the Digital Personal Data Protection Act, 2023 allows. No Aadhaar number, PAN or bank-account number is collected here.

Signatures

The Employer
Signature: _________________________
Name: __________

The Executive
Signature: _________________________
Name: __________

Witnesses

Witness 1
Signature: _________________________
Name: _________________________
Address: _________________________

Witness 2
Signature: _________________________
Name: _________________________
Address: _________________________

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