Sales Incentive Compensation Act

Sales Incentive Compensation Act - Amends the Fair Labor Standards Act of 1938 to exempt from minimum wage recordkeeping and overtime compensation requirements any employee in a sales position, if: (1) such position requires specialized or technical knowledge related to products or services being sold; (2) the employee's sales are predominantly to persons or entities to whom the employee has made previous sales or the employee's position does not involve initiating sales contacts; (3) the employee's position requires a detailed understanding of customers' needs; (4) the employee receives a base compensation at a specified minimum rate and additional compensation based on sales attributable to the employee; (5) the employee's aggregate compensation based upon sales reaches a specified minimum level; (6) the employee receives a rate of compensation based upon each sale attributable to the employee which is beyond sales required to reach such minimum level; and (7) the rate of annual compensation or base compensation for an employee who did not work for an employer for an entire calendar year is prorated to reflect annual compensation which would have been earned if the employee had been compensated at the same rate for the entire calendar year.