Chargeback of Compensation Sample Clauses

Chargeback of Compensation. Except as otherwise may be provided in -------------------------- Exhibit A and B, no compensation shall be payable in connection with a purchase payment, and any compensation already paid shall be promptly returned to MLIDC on request, under each of the following conditions: a) if MLIDC or its Affiliates, in their sole discretion, determine not to issue the Contract applied for; b) if MLIDC or its Affiliates refund or return the purchase payment paid by the applicant for any reason, in whole or in part; or c) MLIDC or its Affiliates determine that any person signing an application who is required to be registered and/or licensed or any other person or entity receiving compensation for soliciting purchases of the Contracts is not duly registered and/or licensed to sell the Contracts in the jurisdiction of such attempted sale.
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Chargeback of Compensation. Except as otherwise may be provided in Exhibit A and B, no compensation shall be payable in connection with a purchase payment, and any compensation already paid shall be promptly returned to Principal Underwriter on request, under each of the following conditions: a) if Principal Underwriter or its Affiliates, in their sole discretion, determine not to issue the Contract applied for; b) if Principal Underwriter or its Affiliates refund or return the purchase payment paid by the applicant for any reason, in whole or in part; or c) Principal Underwriter or its Affiliates determine that any person signing an application who is required to be registered and/or licensed or any other person or entity receiving compensation for soliciting purchases of the Contracts is not duly registered and/or licensed to sell the Contracts in the jurisdiction of such attempted sale.
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Chargeback of Compensation. A. Termination of, or withdrawal of premium received in connection with, a Covered Product will result in a charge-back of Compensation, the amount of which shall be determined in accordance with the following table: Time Elapsed Since Payment Attributable Compensation To Amount Withdrawn Was Made Charge-back First 12 months 100% Second 12 months 75% Third 12 months 50% Fourth12 months 25% Thereafter 0% B. Compensation charge-backs will be due within 60 days of notification by USA. Compensation will be charged back by credit against Compensation to be paid in the future and/or by requiring cash repayment to be made by the Broker-Dealer. C. Compensation will be charged back on a "first-in, first-out" basis according to the date premium payments were received.
Sample 1
Chargeback of Compensation. A. The termination of a Covered Product (1) within twelve (12) months of its date of issue will result in a charge-back of one hundred percent (100%) of the Compensation paid to the Broker-Dealer respecting the sale of the Covered Product if the Covered Product terminates for reasons other than death; (2) seventy-five percent (75%) of the compensation paid to the Broker-Dealer if a Covered Product terminates for reasons other than death during the second twelve (12) months following issue; (3) fifty percent (50%) of the Compensation paid to the Broker-Dealer if a Covered Product terminates for reasons other than death during the third twelve (12) months following issue; (4) twenty five percent (25%) of the Compensation paid to the Broker-Dealer if a Covered Product terminates for reasons other than death during the fourth twelve (12) months following issue; and (5) nothing from the Broker-Dealer (i.e., no charge back) if the Covered Product terminates thereafter. However, notwithstanding any other provision of the Agreement, if termination of a Covered Product at any time is due to the willful or negligent wrongful actions or representations of the Broker-Dealer or any Representative, FUSI reserves the right to recover one hundred (100%) of the Compensation paid to the Broker-Dealer respecting the sale of the Covered Product. In the event a Covered Product owner makes a withdrawal from or partially surrenders a Covered Product within forty-eight (48) months following its date of issue, the charge back rules described in the preceding paragraph shall apply, except that the amount of the charge back shall be pro-rated. Any such pro-rated charge back shall be determined in accordance with the following formula: Charge Back = Charge Back Percentage* x Withdrawal Amount ----------------- Covered Product Cash Value** *100% year one; 75% year two; 50% year three; 25% year four **determined as of the date of the withdrawal ALLMERICA DRAFT MARCH 16, 2000 B. Compensation charge-backs will be due within 60 days of notification by FUS. Compensation will be charged back by credit against Compensation to be paid in the future and/or by requiring cash repayment to be made by the Broker-Dealer.
Sample 1

Related to Chargeback of Compensation

  • Extra Compensation The Board shall pay no fees, other than described above, to the PA/E unless authorized by the Board as follows: A. If the scope of the Project or site is changed, the Board and the PA/E shall negotiate a reasonable fee based upon the probable estimated construction cost in changing the scope of the work and the approximate percentage of the estimated construction cost which was used to negotiate this Agreement if, and, as such may be applicable. B. If the DOE or Board requires the PA/E to make major or costly changes to the Schematic, Preliminary or Construction Document Phase submittals, which changes are not caused by architectural or engineering error or oversight, the PA/E shall be paid to redesign for additional expenses in an amount agreed to by the parties. Under no circumstances will the principals of the PA/E and the principals of his consultants be paid a fee in excess of $125.00 per hour.

  • Payment of Compensation Consultant shall submit to City a monthly itemized statement which indicates work completed and hours of Services rendered by Consultant. The statement shall describe the amount of Services and supplies provided since the initial commencement date, or since the start of the subsequent billing periods, as appropriate, through the date of the statement. City shall, within 30 days of receiving such statement, review the statement and pay all approved charges thereon.

  • No Compensation Except as provided in this Section 7.4 and elsewhere in this Agreement (including the provisions of Articles V and VI hereof regarding distributions, payments and allocations to which it may be entitled), the General Partner shall not be compensated for its services as general partner of the Partnership.

  • Amount of Compensation City shall pay Contractor for performance of all Services rendered in accordance with this Contract in an amount not to exceed $3,000,000.

  • Final Compensation Final Compensation for an employee, who is employed by the State for the first time and becomes a member of CalPERS prior to January 15, 2011, is based on the highest average monthly pay rate during twelve (12) consecutive months of employment. Final Compensation for an employee, who is employed by the State for the first time and becomes a member of CalPERS on or after January 15, 2011, is based on the highest average monthly pay rate during thirty-six (36) consecutive months of employment.

  • Maximum Compensation There is a maximum compensation for this Agreement and a separate maximum compensation for each Approved Service Order.

  • No Additional Compensation Notwithstanding any other provision of this Agreement, the obligation of Agency to return Referred Accounts, provide current status reports of all such accounts or information reasonably required by Client shall be without right to any additional Contingent Fee, administrative fees or other compensation of any kind or type whatsoever after such termination date, including, without limitation, in quantum meruit, for any Services rendered prior to termination (except on recoveries received and remitted to Client pursuant to this Agreement prior to termination) whether or not said Services result in or contribute to recoveries received after termination.

  • Forfeiture; Recovery of Compensation (a) The Administrator may cancel, rescind, withhold or otherwise limit or restrict the Stock Option at any time if the Optionee is not in compliance with all applicable provisions of this Agreement and the Plan. (b) By accepting the Stock Option, the Optionee expressly acknowledges and agrees that his or her rights, and those of any permitted transferee of the Stock Option, under the Stock Option, including to any Stock acquired under the Stock Option or proceeds from the disposition thereof, are subject to Section 6(a)(5) of the Plan (including any successor provision). Nothing in the preceding sentence shall be construed as limiting the general application of Section 8 of this Agreement.

  • Call Back Compensation (a) Call back is an occasion where an employee has been released from duty and is called back to work prior to his/her normal starting time. On such occasions, the employee’s scheduled or recognized shift shall be made available for work, except that the Agency shall not be obligated to work the employee more than twelve (12) consecutive hours and the employee may choose not to work more than twelve (12) consecutive hours, excluding meal periods, of combined call back time and regular shift time. (b) An employee who is called back to work outside his/her scheduled workshift shall be paid a minimum of the equivalent of two (2) hours pay at the overtime rate of pay computed from when the employee actually begins work. After two (2) hours work, in each call back situation, the employee shall be compensated at the appropriate rate of pay for time worked. (c) This provision does not apply to telephone calls at home or overtime work which is essentially a continuation of the scheduled workshift.

  • Stock Based Compensation Executive will be eligible to participate in the Company's Employee Stock Purchase Plan and to be considered by the Compensation Committee for grants or awards of stock options or other stock-based compensation under the Company's Stock Incentive Plan or similar plans from time to time in effect. All such grants or awards shall be governed by the governing Plan and shall be evidenced by the Company's then standard form of stock option, restricted stock or other applicable agreement.

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