Contract to Pay Bonuses to Increase Production

Here’s a sample contract to pay bonuses to increase the production of the workshop company:

Contract to Pay Bonuses to Increase Production

This Contract to Pay Bonuses to Increase Production (the “Agreement”) is made and entered into on [insert date] by and between [insert name of company] (“Company”) and [insert name of employee] (“Employee”).

WHEREAS, Company desires to increase production at its workshop; and

WHEREAS, Employee has agreed to use their best efforts to increase production in exchange for a bonus.

NOW, THEREFORE, in consideration of the mutual promises and covenants contained herein, and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties agree as follows:

1. Bonus Structure. Company shall pay Employee a bonus based on the increase in production achieved by Employee during the term of this Agreement. The bonus structure is set forth in Schedule A attached hereto.
2. Term. This Agreement shall be effective for a period of [insert number] months commencing on [insert date] and terminating on [insert date] (the “Term”).
3. Termination. Either party may terminate this Agreement upon written notice to the other party, if the other party breaches any material provision of this Agreement and fails to cure such breach within [insert number] days after receiving written notice of such breach.
4. Governing Law. This Agreement shall be governed by and construed in accordance with the laws of [insert governing law jurisdiction].
5. Entire Agreement. This Agreement constitutes the entire agreement between the parties and supersedes all prior negotiations, understandings, and agreements between them.

IN WITNESS WHEREOF, the parties have executed this Agreement as of the date first written above.

COMPANY:

[insert signature and printed name]

EMPLOYEE:

[insert signature and printed name]