I will be honest with you. It is woefully inadequate. I apologise if you drafted it yourself.
There is no good and valuable consideration because no money is changing hands for the agreement. The document needs drafting as a deed.
In clause 2 is says that the sales rep will promote the Products and Services to Customers but this no mention anywhere of what those products or services are. In clause 1 it says “all of”, but doesn’t expand on that.
With regard to the many elements of clause 2, I just can’t understand it at all.
4.1 is likely to be unenforceable because in effect it means that you could not pay anything at all. You will need to specify the percentage of reduction and specify that you can’t vary it unreasonably.
5.1 this doesn’t make sense because it should refer to the laws of England & Wales and the jurisdiction of the courts of England & Wales. I don’t know what you mean about clause 5.1 allowing you to cancel. There is no right to cancel because it’s a one-year agreement under the terms of clause 3.
I’m afraid that I would like to rely on this document and it’s going to need several hours of work to knock it into some semblance of order. You would probably be better finding a more suitable agreement.
I’m sorry to be so blunt but it’s not an agreement that I would have any confidence in relying on.
Can I clarify anything for you?
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