Compensation Programs for Sales Representatives Sample Clauses
The "Compensation Programs for Sales Representatives" clause defines how sales representatives are paid, including the structure and terms of their compensation. This typically covers elements such as base salary, commissions, bonuses, and any performance-based incentives, as well as the criteria for earning and receiving these payments. For example, it may specify that commissions are paid monthly based on closed sales or outline eligibility for annual bonuses tied to sales targets. The core function of this clause is to ensure transparency and consistency in how sales representatives are rewarded, thereby motivating performance and reducing disputes over pay.
Compensation Programs for Sales Representatives. Each Party shall be solely responsible for any compensation that is payable to its sales representatives and key account managers consistent with the applicable Global Commercialization Plan. Each Party represents and warrants to the other Party that its compensation programs for its sales representatives and key account managers do not, and will not, provide financial incentives that, to its knowledge, facilitate the promotion, sales, and marketing of the Collaboration Product in violation of applicable Laws.
Compensation Programs for Sales Representatives. Each Party shall be solely responsible for any compensation that is payable to its sales representatives. Each Party represents and warrants to the other Party that its compensation programs for its sales representatives do not, and will not, provide financial incentives that, to its knowledge, facilitate the promotion, sales, and marketing of the Co-Detailed Product in violation of Applicable Laws. Each Party agrees to include the Co-Detailed Product in its sales representatives’ bonus compensation programs, and which will be reviewed and modified as appropriate and as part of the Annual Plan. [*] = Certain confidential information contained in this document, marked by brackets, has been omitted and filed separately with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended.