BROKER’S COMPENSATION. The Broker’s sole compensation from the Company shall be limited to a commission calculated as a percentage of the base premiums and audit premiums written and received by the Company under this Agreement. Premium taxes and surcharges are not included as premium and therefore, are not subject to commission. The Company shall charge, and the Broker shall pay, a return commission at the same rate on any return premium and return premiums on cancellations effectuated by the Company or the policyholder.
Appears in 3 contracts
Samples: Broker/Agency Agreement, Brokerage Agreement, Brokerage Agreement
