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Split Agreement for Service Splits

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Split Agreement for Service Splits Powered By Docstoc
					This is an agreement between two companies whereby one company receives a referral
fee for any business they refer to the other company. This agreement provides that the
referring company shall receive 20% of the profit amount received by the other company
as a direct result of the referral. However, this agreement can easily be modified to
provide for any compensation percentage. This agreement should be used by small
businesses or other entities that want to enter into a fee sharing agreement for business
they refer.
                     SPLIT FEE SHARING AGREEMENT
 This Fee Sharing Agreement (hereinafter referred to as “Agreement”) is entered into effective
this 19th day of March, 2010, by and between (“Company A”) whose name appears below, and
(affiliate company). (”Party B”), whose name appears below.

In consideration of the mutual covenants and agreements hereinafter set forth, the parties do
hereby agree as follows:

1. UNDERTAKING OF EFFORTS – Party B agrees to use its best efforts in an attempt to find :
(a) A suitable organization that Party B has contact with, and to (b) recommend services of
Company A to them in return for fee’s.

2. CONFIDENTIALITY - Company A and Party B each agree to keep all submissions by one to
the other confidential, and not to use, or refer to another the opportunity without payment of
referral fees as set forth in Paragraph 3 below.

3. SHARING OF FEES RECEIVED - In the event that Party B submits an opportunity to
Company A and that organization retains Company A’s service as a result of Party B’s efforts,
then Party B shall be entitled to a referral fee payable by Company A equal to (20%) of the profit
amount received by Company A. Total payment of referral fees under this Agreement are due
and payable within three (3) business day’s after receipt of payment(s). An estimate of profit to be
received will be disclosed to Party B within (3) Business day’s of a contract executed by the
referred organization.

4. OTHER TERMS - Any amendment of this Agreement shall be in writing. In the event that
Company A fails to pay Party B referral fees owed under this Agreement, the prevailing party in
any legal action shall be entitled to recover reasonable attorney’s fees and court costs in addition
to damages. Signatures received by fax shall be deemed as fully valid as if they were original
signatures.

5. In the event that the referred organization decides to retain the services of Company A on a
retainer basis of 1 year, Party B will be entitled to the same split fee for any subsequent work
done and money received from the referred organization through that retainer period, with terms
the same as stated in paragraph 3 above.

6. This agreement also requires a mutually signed confidentiality agreement to protect both
Parties.

IN WITNESS WHEREOF, the parties have caused this Agreement to be executed by their
authorized representatives on the day and date first above written.

BY:___________________________                          BY: __________________________

Date:__________________________                         Date



Name, Title                                                  Name,Title
Company name                                                 Company name


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DOCUMENT INFO
Description: This is an agreement between two companies whereby one company receives a referral fee for any business they refer to the other company. This agreement provides that the referring company shall receive 20% of the profit amount received by the other company as a direct result of the referral. However, this agreement can easily be modified to provide for any compensation percentage. This agreement should be used by small businesses or other entities that want to enter into a fee sharing agreement for business they refer.