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:
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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:
Sample 1Sample 2Sample 3See All (8)
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be determined in accordance with the following table: Time Elapsed Since Payment Attributable Compensation To Amount Withdrawn Was Made Charge-back First 12 months 100% Second 12 months 75% Third 12 months 50% Fourth 12 months 25% Thereafter 0%
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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
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Related to Chargeback of Compensation

  • Payment of Compensation Subject to the provisions of this paragraph, payment of the Subadviser's compensation for the preceding month shall be made within 15 days after the end of the preceding month.

  • 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 The Adviser shall pay the Subadviser, as compensation for services rendered hereunder, from its own assets, an annual fee, payable monthly, equal to 40% of the investment advisory fee collected by the Adviser from the Fund, based on the total net assets of the Fund existing as of the date hereof (the "base amount"), plus 30% of the advisory fee collected by the Adviser, based on the total net assets of the Fund that exceed the base amount (the "marginal amount"), in each case calculated after any waivers, voluntary or otherwise.

  • Final Compensation In the event of termination of the Executive’s employment with the Company, howsoever occurring, the Company shall pay the Executive (i) the Base Salary for the final payroll period of his employment, through the date his employment terminates; (ii) compensation at the rate of the Base Salary for any vacation time earned but not used as of the date his employment terminates; and (iii) reimbursement, in accordance with Section 2(e) hereof, for business expenses incurred by the Executive but not yet paid to the Executive as of the date his employment terminates, provided that the Executive submits all expenses and supporting documentation required within sixty (60) days of the date his employment terminates, and provided further that such expenses are reimbursable under Company policies then in effect (all of the foregoing, “Final Compensation”). Except as otherwise provided in Section 5(a)(iii), Final Compensation will be paid to the Executive within thirty (30) days following the date of termination or such shorter period required by law.

  • 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.

  • 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.

  • Payment of Deferred Compensation Any compensation that has been earned by the Executive but is unpaid as of the Termination Date, including any compensation that has been earned but deferred pursuant to the Company's Deferred Compensation Plan or otherwise, shall be paid in full to the Executive on the Termination Date.

  • Recovery of Compensation All payments and benefits provided under this Agreement shall be subject to any compensation recovery or clawback policy as required under applicable law, rule or regulation or otherwise adopted by the Company from time to time.

  • Additional Compensation During the Term, in addition to the foregoing, the Executive shall be eligible to receive such other compensation as may from time to time be awarded him by either the Board or the Compensation Committee in its sole discretion.

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