Common use of Commission Agreement Clause in Contracts

Commission Agreement. (a) During the term of this Agreement, Distributor and Life Company shall pay to Broker-Dealer or Insurance Agent, as applicable, commissions and fees set forth in Schedule 1 to this Agreement. The payment of such commissions and fees shall be subject to the terms and conditions of this Agreement and those set forth on Schedule 1. Schedule 1, including the commissions and fees therein, may be amended at any time, in any manner, and without prior notice, by Distributor or Life Company. Any amendment to Schedule 1will be applicable to any Contract for which any application or Premium is received by the Service Center on or after the effective date of such amendment. However, Life Company reserves the right to amend such Schedule with respect to subsequent premiums and renewal commissions and the right to amend such Schedule pursuant to this subsection even after termination of this Agreement. Compensation with respect to any Contract shall be paid to Insurance Agent only for so long as Insurance Agent is the agent-of-record and maintains compliance with applicable state insurance laws and only while this Agreement is in effect. (b) No compensation shall be payable, and Broker-Dealer and Insurance Agent agree to reimburse Distributor and Life Company for any compensation that may have been paid to Broker-Dealer, Insurance Agent or any Agents in any of the following situations: (i) Insurance Company, in its sole discretion, determines not to issue the Contract applied for; (ii) Insurance Company refunds the premiums upon the applicant's surrender or withdrawal pursuant to any "free-look" provision; (iii) Insurance Company refunds the premiums paid by applicant as a result of a complaint by applicant; (iv) Insurance Company determines that any person soliciting an application who is required to be licensed or any other person or entity receiving compensation for soliciting applications or premiums for the Contracts is not or was not duly licensed as an insurance agent; or (v) any other situation listed on Schedule 1. (c) Agents shall have no interest in this Agreement or right to any commissions to be paid by Distributor or Life Company to Insurance Agent. Insurance Agent shall be solely responsible for the payment of any commission or consideration of any kind to Agents. Insurance Agent shall have no right to withhold or deduct any commission from any Premiums in respect of the Contract which it may collect unless and only to the extent that Life Company agrees in writing, to permit Insurance Agent to net its commissions against Premiums collected. Insurance Agent shall have no interest in any compensation paid by Life Company to Distributor or any affiliate, now or hereafter, in connection with the sale of any Contracts hereunder.

Commission Agreement. (a) During the term of this Agreement, Distributor and Life Company shall pay to Broker-Dealer or Insurance Agent, as applicable, commissions and fees set forth in Schedule 1 to this Agreement. The payment of such commissions and fees shall be subject to the terms and conditions of this Agreement and those set forth on Schedule 1. Schedule 1, including the commissions and fees therein, may be amended at any time, in any manner, and without prior notice, by Distributor or Life Company. Any amendment to Schedule 1will 1 will be applicable to any Contract for which any application or Premium is received by the Service Center on or after the effective date of such amendment. However, Life Company reserves the right to amend such Schedule with respect to subsequent premiums and renewal commissions and the right to amend such Schedule pursuant to this subsection even after termination of this Agreement. Compensation with respect to any Contract shall be paid to Insurance Agent only for so long as Insurance Agent is the agent-of-record and maintains compliance with applicable state insurance laws and only while this Agreement is in effect. (b) No compensation shall be payable, and Broker-Dealer and Insurance Agent agree to reimburse Distributor and Life Company for any compensation that may have been paid to Broker-Dealer, Insurance Agent or any Agents in any of the following situations: (i) Insurance Company, in its sole discretion, determines not to issue the Contract applied for; (ii) Insurance Company refunds the premiums upon the applicant's surrender or withdrawal pursuant to any "free-look" provision; (iii) Insurance Company refunds the premiums paid by applicant as a result of a complaint by applicant; (iv) Insurance Company determines that any person soliciting an application who is required to be licensed or any other person or entity receiving compensation for soliciting applications or premiums for the Contracts is not or was not duly licensed as an insurance agent; or (v) any other situation listed on Schedule 1. (c) Agents shall have no interest in this Agreement or right to any commissions to be paid by Distributor or Life Company to Insurance Agent. Insurance Agent shall be solely responsible for the payment of any commission or consideration of any kind to Agents. Insurance Agent shall have no right to withhold or deduct any commission from any Premiums in respect of the Contract which it may collect unless and only to the extent that Life Company agrees in writing, to permit Insurance Agent to net its commissions against Premiums collected. Insurance Agent shall have no interest in any compensation paid by Life Company to Distributor or any affiliate, now or hereafter, in connection with the sale of any Contracts hereunder.

Commission Agreement. (a) During the term of this Agreement, Distributor and Life Company shall pay to Broker-/Dealer or Insurance Agent, as applicable, commissions and fees set forth in Schedule 1 2 to this Agreement. The payment of such commissions and fees shall be subject to the terms and conditions of this Agreement and those set forth on Schedule 12. Schedule 12, including the commissions and fees therein, may be amended at any time, in any manner, and without prior notice, by Distributor or Life Company. Any amendment to Schedule 1will 2 will be applicable to any Contract for which any application or Premium is received by the Service Center on or after the effective date of such amendment. However, Life Company reserves the right to amend such Schedule with respect to subsequent premiums and renewal commissions and the right to amend such Schedule pursuant to this subsection even after termination of this Agreement. Compensation with respect to any Contract shall be paid to Insurance Agent only for so long as Insurance Agent is the agent-of-record and maintains compliance with applicable state insurance laws and only while this Agreement is in effect. (b) No compensation shall be payable, and Broker-Dealer and Insurance Agent agree to reimburse Distributor and Life Company for any compensation that may have been paid to Broker-Dealer, Insurance Agent or any Agents in any of the following situations: (i) Insurance Company, in its sole discretion, determines not to issue the Contract applied for; (ii) Insurance Company company refunds the premiums upon the applicant's surrender or withdrawal pursuant to any "free-look" provisionprivilege; (iii) Insurance Company refunds the premiums paid by applicant as a result of a complaint by applicant; (iv) Insurance Company determines that any person soliciting an application who is required to be licensed or any other person or entity receiving compensation for soliciting applications or premiums for the Contracts is not or was not duly licensed as an insurance agent; or (v) any other situation listed on Schedule 12. (c) Agents shall have no interest in this Agreement or right to any commissions to be paid by Distributor or Life Company to Insurance Agent. Insurance Agent shall be solely responsible for the payment of any commission or consideration of any kind to Agents. Insurance Agent shall have no right to withhold or deduct any commission from any Premiums in respect of the Contract which it may collect unless and only to the extent that Life Company agrees in writing, to permit Schedule 2 of this Agreement permits Insurance Agent to net its commissions against Premiums collected. Insurance Agent shall have no interest in any compensation paid by Life Company to Distributor or any affiliate, now or hereafter, in connection with the sale of any Contracts hereunder.