Cloud computing and Internet of Things (IoT) are computing technologies that provide services to consumers and businesses, allowing organizations to become more agile and flexible. Therefore, ensuring the quality of service through service-level agreements for such cloud-based services is crucial for both the service providers and service consumers. Within the context of industrial IoT applications, modeling of the service-level agreements has not received much attention in the existing literature. In this paper, we discuss ongoing work on modeling of service-level agreements to ensure quality of service in industrial IoT applications. The modeling approach aims to consider the agreements between an end device and the cloud; between a service provider and a service user; and among cloud services. The approach also aims to model the service-level agreements when a company assumes a double role, being the provider as well as the user of the services. We aim to provide a proof of concept by developing a prototype in an industrial setup. Using the prototype, we plan to show usability of the approach.