Sales Incentive Program Clause Samples
A Sales Incentive Program clause establishes the terms under which employees or agents are rewarded for achieving specific sales targets or performance metrics. Typically, this clause outlines the eligibility criteria, the types of incentives offered (such as bonuses or commissions), and the process for calculating and distributing these rewards. By clearly defining how and when incentives are earned, the clause motivates sales personnel to meet or exceed goals while minimizing disputes over compensation.
POPULAR SAMPLE Copied 1 times
Sales Incentive Program. For every new incremental $1million in sales annually Executive will be awarded 5,000 shares of Soupman Inc. stock. The maximum amount of shares to earn is 500,000 shares based on a cap of $100 million in sales for this bonus.
Sales Incentive Program. Commencing on the Effective Date and continuing through April 30, 2019, the Employee shall be eligible to participate in the Company’s sales incentive program for sales personnel, as in effect and as amended from time to time by the Company (the “Sales Program”). In connection with the Sales Program, commencing on the Effective Date and continuing through April 30, 2019, the Employee will be entitled to a sales incentive equal to one-quarter of one percent (0.25%) of the net revenue collected and earned from Products sales originated by the Employee and any other salesperson employed by the Company, payable quarterly in arrears (the “Sales Incentive”). The Company and the Employee acknowledge and agree that the Sales Program, the Sales Incentive and any other sales incentives and commissions will terminate effective May 1, 2019.
Sales Incentive Program. Promptly following the date of this Agreement, the Parties shall work in good faith to design and mutually agree on the terms of a sales incentive plan providing for incentive bonuses of up to $10,000,000 in the aggregate to eligible Transferred Employees, which terms shall generally include the eligibility, performance and other guidelines set forth on Schedule 6.5 (the “Sales Incentive Program”). If this Agreement terminates for any reason other than pursuant to Section 9.1.4, within 30 days following such termination, Buyer shall pay to Seller the amount owed, or committed to be paid, by Seller pursuant to the Sales Incentive Program up to an aggregate of $10,000,000, plus all applicable employer payroll taxes and similar amounts. Seller shall, following consultation in good faith with ▇▇▇▇▇, communicate to eligible Business Employees the relevant provisions in this Section 6.5. Seller shall provide Buyer with a copy of the template communication at least 10 Business Days prior to such communication and will reflect any comments promptly received from Seller. For the avoidance of doubt, ▇▇▇▇▇’s obligations under this Section 6.5 shall be in addition to Buyer’s other obligations under this Article 6.
Sales Incentive Program. Immediately following the Closing, Seller and Purchaser shall establish a sales incentive bonus program (the "Incentive Bonus Program") for certain identified sales staff of Seller ("Eligible Sales Staff") engaged in the transition of customer accounts from Seller to Purchaser during the Earn-Out Period. Seller and Purchaser shall each contribute an amount equal to one and one-half percent (1.50%) of the first $8,000,000 of Earn-Out Revenues during the Earn-Out Period (i.e. $120,000) to the Incentive Bonus Program (each such contribution, a "Sales Incentive Contribution" and, collectively, the "Sales Incentive Contributions"). The Sales Incentive Contributions shall be funded by Purchaser and Seller on a quarterly basis within fifteen (15) days following the end of each fiscal quarter and any payments to Eligible Sales Staff shall be made within thirty (30) days following the end of each fiscal quarter, commencing with the fiscal quarter ending December 31, 2004. In the event that Seller fails to make any Sales Incentive Contribution(s) as required by the terms hereof, Purchaser shall have the right, but not the obligation, to make such Sales Incentive Contribution(s) on Seller's behalf and to set off the amount(s) thereof against the amount of any Contingent Consideration payable to Seller pursuant to Section 2.4(b) hereof. The administration of the Sales Bonus Program (i.e. determination of eligible staff, defined level of support, projected payment amounts, etc.) shall be determined by one designated representative of Seller and two designated representatives of Purchaser and all such determinations shall be final. The amount of any Sales Incentive Contributions that are not distributed to Eligible Sales Staff on or before the end of the Earn-Out Period pursuant to the terms of the Incentive Bonus Program shall be returned to Purchaser and Seller in the same proportions as such Incentive Sales Contributions were originally made within thirty (30) days following the end of the Earn-Out Period. All Incentive Sales Contributions shall be held by Purchaser pending distribution to Eligible Sales Staff and/or return to Purchaser and Seller as provided herein. In the event that Purchaser and Seller are unable to agree on the determination of any matter under this Section 7.4, either Purchaser or Seller may deliver to the other a Dispute Notice and, thereafter, the parties shall endeavor to resolve such disputed items in the manner, and pursuant to the terms, p...
Sales Incentive Program. The Employee shall be eligible to participate in the Company’s sales incentive program for sales personnel, as in effect and as amended from time to time by the Company (the “Sales Program”). In connection with the Sales Program, the Employee will be entitled to a sales incentive equal to one-quarter of one percent (0.25%) of the net revenue collected and earned from Products sales originated by the Employee and any other salesperson employed by the Company, payable quarterly in arrears (the “Sales Incentive”). The Company and the Employee acknowledge and agree that the Sales Incentive will terminate effective December 31, 2019, notwithstanding any extension of the Term hereunder as set forth in Section 6 hereof.
Sales Incentive Program. For every new incremental $1million in sales annually ▇▇. ▇▇▇▇▇▇ will be awarded 5,000 shares of SoupMan Inc. stock. The maximum amount of shares to earn is 500,000 shares based on a cap of $100 million in sales for this bonus. The potential earn of sales incentive is 500,000 additional shares of SOUP.