Coldwell Banker Team Agreement
Content
SALES ASSOCIATE TEAM AGREEMENT
I.
PARTIES TO AGREEMENT
This Agreement is entered into on [date] and is an Addendum to the Independent
Contractor Agreement (“Addendum”) of each sales associate listed below
(individually, “Team Member”) between each Team Member and [brokerage name]
(“Broker”) with regard to working as a team.
II.
GENERAL PROVISIONS
Team Members shall voluntarily work together as a team of licensed real estate
salespersons or real estate brokers on every transaction. They will share
commissions on all transactions as provided in the Commission Schedule set forth in
the attached Exhibit A.
All Gross Commission Income (GCI) and Units will be credited to the [name of lead
associate] (“Lead Associate”) for commission plan and award purposes.
The Company will calculate commission payments for all Team Members at the Lead
Associate’s current commission level, as set forth in the Lead Associate’s Independent
Contractor Agreement.
Team Members shall perform services solely as licensed real estate salespersons or
real estate brokers. Team Members shall not receive remuneration from other sales
associates, Broker, or each other, except for the commissions set forth herein.
III.
TERM AND TERMINATION
This Addendum shall be effective as of the date set forth above and continue until
terminated.
This Addendum may be terminated by any Team Member or Broker at any time, for
any reason by completing the Team Agreement Cancellation Notice, attached hereto
as Exhibit B. If terminated, the Commission Schedule set forth in Exhibit A shall
apply to (i) all commissions earned, i.e. closed or recorded, before the effective date
of the termination and (ii) any commissions for transactions that were accepted, i.e. a
signed listing if agent for seller and a signed purchase agreement if agent for the
buyer, during the term of this Addendum that become earned after the effective date
of termination if Team Member continues to be licensed with Broker when the
commission becomes earned.
IV.
ACKNOWLEDGEMENT
RELATIONSHIP
OF
INDEPENDENT
CONTRACTOR
Each Team Member acknowledges that he/she is an independent contractor, and that
Team Member and any individuals performing services on his/her behalf are not
employees of the Broker. The Broker shall carry no worker's compensation insurance
or any health or accident insurance to cover Team Member(s) or agents of Team
Member(s), unless otherwise required by state law. Further, each Team Member
agrees that he/she shall undertake to meet all obligations to his/her employees with
respect to salaries, social security, unemployment, withholding taxes and any other
contributions or benefits required during the entire term of this Addendum.
V.
INDEMNIFICATION
In the event that, under federal or state law, any Team Member (hereinafter
“Employee Team Member”) is considered an employee of the other Team Member(s)
who are party to this Addendum (hereinafter “Employer Team Member(s)”), the
Employer Team Member(s) shall be solely responsible for the compliance with all
employment and tax law requirements concerning the employment of the Employee
Team Member; and the Employer Team Member(s) will defend (with counsel
satisfactory to Broker), indemnify and hold Broker harmless from and against any
and all claims, charges, complaints, actions, investigations, proceedings, judgments,
deficiencies, damages, settlements, losses or liabilities, in all cases inclusive of
interest and penalties, and legal and other expenses (including attorney’s fees and
expenses of attorneys chosen by Broker) as and when they are incurred arising out of,
whether directly or indirectly, or based in any way on any breach of the Employer
Team Member(s)’s responsibilities as an employer of the Employee Team Member.
This provision shall survive termination of this Addendum and the relationship
between the parties.
VI.
WARRANTY
The terms and conditions of this Addendum shall be attached to and become a part of
each Team Member’s Independent Contractor Agreement and shall supersede any
prior oral and/or written agreements between the parties with respect to the subject
matter of this Addendum.
All parties agree that no other representations, assurances, guarantees or agreements have
been made other than as contained herein or expressed in a written agreement between
the parties. It is further agreed that provisions of this Addendum can only be modified in
writing by all of the parties hereto.
This Addendum shall be interpreted and governed by the laws of [State]. If any term,
provision, covenant or condition of this Addendum is held by a court of competent
jurisdiction to be invalid, void or unenforceable, the rest of the Addendum shall remain in
full force and effect and shall in no way be affected, impaired or invalidated. IN THE
EVENT OF LITIGATION BETWEEN THE PARTIES, THE PARTIES EACH
KNOWINGLY AND VOLUNTARILY WAIVE ANY RIGHT TO A JURY TRIAL.
Date:________
____________________________________
Signature of Team Member / Lead Associate
[Lead Associate’s name]
Date:________
____________________________________
Signature of Team Member
[Team Member’s name]
Date:________
____________________________________
Signature of Team Member
[Team Member’s name]
Date:________
____________________________________
Signature of Team Member
[Team Member’s name]
[Brokerage Name]
Date:________
______________________________________
Signature of BRANCH MANAGER
[Branch Manager’s name]
Exhibit A
Commission Schedule
Team Member’s Name
Commission Share %
Initial and Date
___________________
___________________
___________________
___________________
Commission Share % must equal 100%
Exhibit B
Team Agreement Cancellation Notice
The Team Agreement dated [date] among [Broker’s name] and [list Team Members names]
will be terminated effective [date].
Date:_________________
______________________________________
Signature of BRANCH MANAGER
[Branch Manager’s name]
Date:_________________
______________________________________
Signature of Team Member / Lead Associate
[Lead Associate’s name]
Date:_________________
______________________________________
Signature of Team Member
[Team Member’s name]
Date:_________________
_______________________________________
Signature of Team Member
[Team Member’s name]
Date:_________________
________________________________________
Signature of Team Member
[Team Member’s name]
I.
PARTIES TO AGREEMENT
This Agreement is entered into on [date] and is an Addendum to the Independent
Contractor Agreement (“Addendum”) of each sales associate listed below
(individually, “Team Member”) between each Team Member and [brokerage name]
(“Broker”) with regard to working as a team.
II.
GENERAL PROVISIONS
Team Members shall voluntarily work together as a team of licensed real estate
salespersons or real estate brokers on every transaction. They will share
commissions on all transactions as provided in the Commission Schedule set forth in
the attached Exhibit A.
All Gross Commission Income (GCI) and Units will be credited to the [name of lead
associate] (“Lead Associate”) for commission plan and award purposes.
The Company will calculate commission payments for all Team Members at the Lead
Associate’s current commission level, as set forth in the Lead Associate’s Independent
Contractor Agreement.
Team Members shall perform services solely as licensed real estate salespersons or
real estate brokers. Team Members shall not receive remuneration from other sales
associates, Broker, or each other, except for the commissions set forth herein.
III.
TERM AND TERMINATION
This Addendum shall be effective as of the date set forth above and continue until
terminated.
This Addendum may be terminated by any Team Member or Broker at any time, for
any reason by completing the Team Agreement Cancellation Notice, attached hereto
as Exhibit B. If terminated, the Commission Schedule set forth in Exhibit A shall
apply to (i) all commissions earned, i.e. closed or recorded, before the effective date
of the termination and (ii) any commissions for transactions that were accepted, i.e. a
signed listing if agent for seller and a signed purchase agreement if agent for the
buyer, during the term of this Addendum that become earned after the effective date
of termination if Team Member continues to be licensed with Broker when the
commission becomes earned.
IV.
ACKNOWLEDGEMENT
RELATIONSHIP
OF
INDEPENDENT
CONTRACTOR
Each Team Member acknowledges that he/she is an independent contractor, and that
Team Member and any individuals performing services on his/her behalf are not
employees of the Broker. The Broker shall carry no worker's compensation insurance
or any health or accident insurance to cover Team Member(s) or agents of Team
Member(s), unless otherwise required by state law. Further, each Team Member
agrees that he/she shall undertake to meet all obligations to his/her employees with
respect to salaries, social security, unemployment, withholding taxes and any other
contributions or benefits required during the entire term of this Addendum.
V.
INDEMNIFICATION
In the event that, under federal or state law, any Team Member (hereinafter
“Employee Team Member”) is considered an employee of the other Team Member(s)
who are party to this Addendum (hereinafter “Employer Team Member(s)”), the
Employer Team Member(s) shall be solely responsible for the compliance with all
employment and tax law requirements concerning the employment of the Employee
Team Member; and the Employer Team Member(s) will defend (with counsel
satisfactory to Broker), indemnify and hold Broker harmless from and against any
and all claims, charges, complaints, actions, investigations, proceedings, judgments,
deficiencies, damages, settlements, losses or liabilities, in all cases inclusive of
interest and penalties, and legal and other expenses (including attorney’s fees and
expenses of attorneys chosen by Broker) as and when they are incurred arising out of,
whether directly or indirectly, or based in any way on any breach of the Employer
Team Member(s)’s responsibilities as an employer of the Employee Team Member.
This provision shall survive termination of this Addendum and the relationship
between the parties.
VI.
WARRANTY
The terms and conditions of this Addendum shall be attached to and become a part of
each Team Member’s Independent Contractor Agreement and shall supersede any
prior oral and/or written agreements between the parties with respect to the subject
matter of this Addendum.
All parties agree that no other representations, assurances, guarantees or agreements have
been made other than as contained herein or expressed in a written agreement between
the parties. It is further agreed that provisions of this Addendum can only be modified in
writing by all of the parties hereto.
This Addendum shall be interpreted and governed by the laws of [State]. If any term,
provision, covenant or condition of this Addendum is held by a court of competent
jurisdiction to be invalid, void or unenforceable, the rest of the Addendum shall remain in
full force and effect and shall in no way be affected, impaired or invalidated. IN THE
EVENT OF LITIGATION BETWEEN THE PARTIES, THE PARTIES EACH
KNOWINGLY AND VOLUNTARILY WAIVE ANY RIGHT TO A JURY TRIAL.
Date:________
____________________________________
Signature of Team Member / Lead Associate
[Lead Associate’s name]
Date:________
____________________________________
Signature of Team Member
[Team Member’s name]
Date:________
____________________________________
Signature of Team Member
[Team Member’s name]
Date:________
____________________________________
Signature of Team Member
[Team Member’s name]
[Brokerage Name]
Date:________
______________________________________
Signature of BRANCH MANAGER
[Branch Manager’s name]
Exhibit A
Commission Schedule
Team Member’s Name
Commission Share %
Initial and Date
___________________
___________________
___________________
___________________
Commission Share % must equal 100%
Exhibit B
Team Agreement Cancellation Notice
The Team Agreement dated [date] among [Broker’s name] and [list Team Members names]
will be terminated effective [date].
Date:_________________
______________________________________
Signature of BRANCH MANAGER
[Branch Manager’s name]
Date:_________________
______________________________________
Signature of Team Member / Lead Associate
[Lead Associate’s name]
Date:_________________
______________________________________
Signature of Team Member
[Team Member’s name]
Date:_________________
_______________________________________
Signature of Team Member
[Team Member’s name]
Date:_________________
________________________________________
Signature of Team Member
[Team Member’s name]
