THIS AGREEMENT made and entered into this __ day of _______________, 20__, 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:
Effective as of the date of this Agreement, Broker employs Salesman as a real estate 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.
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 ________ Rupees (Rs_______) per month, provided that Salesman may elect to draw commissions as earned.
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.
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.
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.
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