Fill and Sign the Employment Agreement Company Form

Employment Agreement between Sales Executive and Company Agreement made on the ___ day of __________, 20___, between _____________________ of __________________________________________ (street address, city, county, state, zip code) , referred to herein as Sales Executive, and _____________________ , Inc., a corporation organized and existing under the laws of the state of ______________, with its principal office located at __________________________________________ (street address, city, county, state, zip code) , referred to herein as Company. Whereas, Company is engaged in the _________________________________ _______________________________________________________________ (nature of business) , and in the sale of _______________________________ (type of product) ; and Whereas, Company desires to employ Sales Executive , pursuant to the terms of this Agreement and offer Sales Executive certain stock incentives to encourage a long term and productive relationship between Company and Sales Executive representative; Now, therefore, in consideration of the matters described above, and of the mutual benefits and obligations set forth in this Agreement, the parties agree as follows: 1. Employment of Sales Executive Company employs Sales Executive to head its sales department and to sell its merchandise and products in the following territory: __________________________ (description of territory) , and such other territories on which both parties may agree in writing and which subsequent agreements shall be incorporated in and made a part of this Agreement. II. Duties of Sales Executive Sales Executive will serve Company faithfully and to the best of his ability under the direction of the board of directors of Company. Sales Executive will devote all of his time, energy, and skill during regular business hours to such employment. Sales Executive shall perform such services and act in such executive capacity as directed by the board of directors of Company. III. Term of Employment This Agreement and the employment under this Agreement shall commence on the effective date stated above, and continue for ___ years from the date of this Agreement. IV. Compensation A. Sales Executive’s salary shall be at the rate of $________ per year from _____________________ (commencement date) . Employer shall pay Sales Executive ’s salary in cash and in monthly installments of $____________, such payment to be made on the last day of each month during the term of this Agreement. B. Company shall also pay Sales Executive a ____% commission on the net selling price of all merchandise and products of Company shipped and billed on orders received and accepted by Company under the terms of this Agreement. Commissions shall be paid on the ___ day of each _____________________ (e.g., month, quarter). C. As further consideration for his contributions to the Company, the Company shall issue to Sales Executive shares of common stock of the Company, fully paid and nonassessable in accordance with the following schedule: 1. The number of shares equivalent to ____% of the outstanding common stock on or before _____________________ (date). 2. The number of shares equivalent to ____% of the outstanding common stock on or before _____________________ (date). 3. The number of shares equivalent to ____% of the outstanding common stock on or before _____________________ (date). 4. The number of shares equivalent to ____% of the outstanding common stock on or before any public offering of stock in the Company . V. Customer’s Failure to Pay Account A. In the event of nonpayment of a customer's account resulting in a loss to Company, Sales Executive shall be charged with a sum equal to his commission rate or percentage on the unpaid balance owing by the customer. B. If any customer's account becomes ___________ (number) days in arrears, Sales Executive shall be charged with a sum equal to his commission rate or percentage on the unpaid balance of the account, and such commission debit shall be suspended, subject to being recredited at any time such customer pays his or her or its account in full. VI. Statement of Shipments Company shall furnish Sales Executive a periodic statement showing shipments made to customers in Sales Executive territory, and all payments and other items credited to Sales Executive account during such period. VII. Expenses Sales Executive shall be entitled to reimbursement for such expenses as shall be determined in accordance with the established custom of Company, as the same may be determined from time to time. VIII. Auto Insurance Sales Executive, before engaging in his duties under this Agreement, shall first cause to be issued to him liability insurance on his automobile that will afford absolute protection for Company against any loss or damage to life or property, that may be caused by any automobile accident in which Sales Executive is involved, such indemnity policy to insure Company for such time or times as Sales Executive’s automobile may be used on the business of Company. IX. Vacation Sales Executive shall be entitled to holidays and vacation schedules in effect for all employees of Company and shall further be entitled to his customary withdrawal of commissions during such periods. X. Governing Law This Agreement shall be governed by, construed, and enforced in accordance with the laws of State of _______________. XI. Entire Agreement This Agreement shall constitute the entire agreement between the parties and any prior understanding or representation of any kind preceding the date of this Agreement shall not be binding upon either party except to the extent incorporated in this Agreement. XII. Modification of Agreement Any modification of this Agreement or additional obligation assumed by either party in connection with this Agreement shall be binding only if evidenced in writing signed by each party or an authorized representative of each party. XII. No Waiver The failure of either party to this Agreement to insist upon the performance of any of the terms and conditions of this Agreement, or the waiver of any breach of any of the terms and conditions of this Agreement, shall not be construed as waiving any such terms and conditions, but the same shall continue and remain in full force and effect as if no such forebearance or waiver had occurred. XIII. Effect of Partial Invalidity The invalidity of any portion of this Agreement will not and shall not be deemed to affect the validity of any other provision. If any provision of this Agreement is held to be invalid, the parties agree that the remaining provisions shall be deemed to be in full force and effect as if they had been executed by both parties subsequent to the expungement of the invalid provision. IX. Notices Any notice provided for or concerning this Agreement shall be in writing and shall be deemed sufficiently given when sent by certified or registered mail if sent to the respective address of each party as set forth at the beginning of this Agreement. X. Mandatory Arbitration Any dispute under this Agreement shall be required to be resolved by binding arbitration of the parties hereto. If the parties cannot agree on an arbitrator, each party shall select one arbitrator and both arbitrators shall then select a third. The third arbitrator so selected shall arbitrate said dispute. The arbitration shall be governed by the rules of the American Arbitration Association then in force and effect. WITNESS our signatures as of the day and date first above stated. _____________ , INC. ________________________ By_______________________ (Name & Office in Corporation)