THIS AGREEMENT made
and entered into this ____ day of _______________, 200(x), by and between
_________________________________, of
______________________________________________________,
(hereinafter referred to as "Broker"), and _______________________________ of
_____________________________________________, (hereinafter referred to as
"Salesman").
The Parties recite
that:
A. Broker is duly
registered and licensed with the State of ________________ as a
real estate broker whose license expires ______________________.
B. Salesman is duly
registered and licensed with the State of _______________
as a real estate salesman whose license expires _____________________.
In consideration of
the mutual covenants set forth below, the parties agree as follows:
1. STATEMENT OF EMPLOYMENT
Effective as of the
date of this Agreement, Broker employs Salesman as a
real estate salesman.
2. DUTIES OF SALESMAN
Salesman will carry
on the customary activities of a real estate salesman, including,
but not necessarily limited to, the showing of parcels of real estate on which
Broker
has listings, the sale of such property in accordance with the terms of the
listings,
the solicitation of new listings, and such other services pertaining to the real
estate
business as Broker may require of him. Salesman shall devote his entire time and
attention to such duties and shall use his best efforts with regard to all of
such duties.
3. COMMISSIONS ON SALES
Broker shall pay to
Salesman a commission equal to ______ percent of the total
commission received by Broker, on sales made by Salesman and completed during
the effective period of this Agreement. Furthermore, during the effective period
of this
Agreement, Broker will advance to Salesman against commissions to be earned the
sum of ________ DOLLARS ($_______) per month, provided that Salesman may
elect to draw commissions as earned.
4. DURATION OF AGREEMENT; TERMINATION
The term of this Agreement shall be for _____ years, commencing on the date of this Agreement. Either party may terminate this Agreement by sixty (60) days' written notice to the other party. If, on termination of this Agreement, Broker has advanced to Salesman against commissions to be earned a sum of commissions actually earned by Salesman, Salesman will promptly refund the amount of the excess advances.
5. ACCESS TO LISTINGS AND OTHER INFORMATION
Broker will give Salesman access to its confidential files pertaining to listings of property, prospects for the sale of such property, and other related matters. Broker shall also furnish Salesman personal contacts with persons interested in selling or buying such property, and shall generally aid Salesman in every way possible with respect to such sales and Salesman's duties hereunder.
6. LOYALTY TO BROKER'S INTEREST
Salesman will not during the term of this Agreement be engaged in any other business activity, whether or not pursued for gain, profit, or other pecuniary advantage, provided, however, that Salesman may invest his assets in such form or manner as will not require his expenditure of any undue amount of time.
7. NONDISCLOSURE OF TRADE SECRETS
Salesman recognizes
and acknowledges that the information that will be furnished to him
concerning Broker's customers, listings, holdings, investments, transactions,
and other confidential matters constitutes a valuable, special, and unique asset
and trade secret of Broker's business. Accordingly, Salesman will not,
during or after the term of his employment hereunder, disclose any such
information or any part thereof to any person, firm, corporation, association,
or other entity
for any reason or purpose whatsoever.
8. WRITTEN CONTRACT AS CONSTITUTING ENTIRE AGREEMENT
This Agreement constitutes the entire contract and agreement between parties, and there are no verbal understandings or other agreements of any nature with respect to the subject matter hereof except those contained in this Agreement.
9. BINDING EFFECT
This Agreement shall be binding upon and inure to the benefit of the respective heirs, successors and assigns of the parties hereto.
10. GOVERNING LAW
This Agreement shall be governed, interpreted and construed by, through and under the laws of the state of _________________________.
11. ATTORNEYS' FEES
In the event of any legal or equitable action, including any appeals, which may arise hereunder between or among the parties hereto, the prevailing party shall be entitled to recover a reasonable attorneys' fee. Attorneys' fees shall also include hourly charges for paralegals, law clerks and other staff members operating under the supervision of an attorney.
12. SEVERANCE
The invalidity or
unenforceability of any portion of this Agreement shall not affect
the remaining provisions and portions hereof.
13. HEADINGS
The paragraph
headings contained herein are for convenience of reference only and
are not to be used in the construction or interpretation hereof.
IN WITNESS WHEREOF, the parties have caused these presents to be duly executed on the date first above written.
WITNESSES:
"BROKER"
_________________________ __________________________
________________________
"SALESMAN"
_____________________ _________________________
_____________________
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