Galaxy Holdings
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Name: Michael Yuan
Title: General Manager
Date:
Representative:
Date:
This Sales Commission Agreement (the “Agreement”) is entered into as of by and between Galaxy Holdings, a TX LLC located at (the “Company”), and , residing at (the “Representative”). This Agreement sets out the terms of the Representative’s sales commission compensation and supplements, and does not replace, the Representative’s underlying offer letter or employment terms.
The Representative will earn a commission of on Net Revenue from Qualifying Sales attributable to the Representative, as further described below. “Net Revenue” means the amount actually invoiced and collected by the Company for a sale, excluding taxes, shipping, discounts, returns, refunds, and credits. “Qualifying Sale” means a sale of Company products or services that is booked, approved by the Company, and not cancelled, within the Representative’s assigned territory or accounts.
The Representative’s sales quota for the applicable period is . The Company may adjust quotas, territories, account assignments, products, and commission rates prospectively, on reasonable written notice, to reflect changes in the business; any such change applies only to sales made after the effective date of the change.
The Company will provide the Representative a draw against commissions of per pay period. Each draw is an advance against commissions the Representative earns. Earned commissions are first applied to repay any outstanding draw balance for the period.
A commission is earned only when all of the following have occurred: the sale is booked and approved, the product or service is delivered, and the Company has received payment in full from the customer. Earned commissions are calculated and paid on , less applicable withholdings. The Company will provide a statement showing the sales, calculations, and any adjustments for each payment.
If a customer cancels an order, returns a product, fails to pay, or receives a refund or credit after a commission has been paid, the related commission is not earned (or is deemed overpaid), and the Company may charge back the corresponding amount by deducting it from future commissions or other compensation, to the extent permitted by applicable wage law. The Representative authorizes such deductions consistent with law; where deductions from wages are restricted, the Company may invoice the Representative for the chargeback amount.
Upon termination of the Representative’s relationship with the Company for any reason, the Representative will be paid commissions that were earned (as defined in Section 4) on or before the termination date, paid on the next regular commission cycle, subject to chargebacks. Except as required by applicable state law (some states require payment of commissions that become calculable after separation), the Representative will not earn commissions on sales that are not yet earned as of the termination date, including sales that close, deliver, or are collected after termination. Any contrary requirement of the law of TX governing commissions and final wages controls.
No commission is earned on a sale procured through misrepresentation, violation of Company policy or law, or unauthorized pricing or terms. The Company may withhold or recover commissions on such sales.
Nothing in this Agreement changes the at-will nature of the Representative’s employment, and nothing guarantees any minimum level of commissions or continued employment.
This Agreement is governed by the laws of the State of TX and constitutes the entire agreement between the parties on its subject matter, superseding prior commission plans. The Company may modify this commission plan prospectively on written notice. If any provision is held unenforceable, the remaining provisions remain in effect. This Agreement may otherwise be amended only in a writing signed by both parties.
Name: Michael Yuan
Title: General Manager
Date:
Date: