Update Values of Cells in a worksheet based on Cell values from another worksheet?

[SoundlessResonance]

I have two worksheets named "Sheet1" and "Template" I want a few cells (Rate column in a table) to update their values based on the values of a column in Sheet1 (Company Name column) For instance when I select SAGT company from the dropdown menu, I want the Rates in the Template worksheet change to 10. I would like this to update automatically whenever I change the company column however if a button is needed then I can live with that. I have attached pictures of the two worksheets

Thanks.

 

[Fluff]

You haven't given us much info, but based on your existing formula, maybe

=IF(Sheet1!C2="SAGT",10,"")