Common use of Commission Chargeback Clause in Contracts

Commission Chargeback. For any Annuity reinsured hereunder that is either surrendered or partially withdrawn during the current Accounting Period, the Ceding Company will pay the Reinsurer a Commission Chargeback at the end of the Accounting Period equal to (a) plus (b), where: (a) equals the sum of (i) times (ii) times (iii), with respect to each such Annuity, where: (i) equals 1.0 for any Annuity reinsured hereunder that is either surrendered, or incurs a partial withdrawal in the first six policy months, and 0.5 for any Annuity reinsured hereunder that is either surrendered, or incurs a partial withdrawal in policy months seven through twelve; (ii) equals the Commission Rate, as specified in item (i)(a) of Paragraph 1 above; and (iii) equals the total Reinsurance Premiums, determined in accordance with Article II, received with respect to any such Annuity that is surrendered for all Accounting Periods since inception of this Agreement, or the quota share reinsured hereunder, as described in Schedule A, times the gross amount withdrawn for any such Annuity that incurred a partial withdrawal during the current Accounting Period; and (b) equals the product of (i) times (ii), where: (i) equals $230 times the quota share reinsured hereunder, as described in Schedule A; and (ii) equals the number of Base Annuities surrendered as "Free Looks", in accordance with the terms of the Annuities reinsured hereunder, during the current Accounting Period.

Commission Chargeback. For any Annuity reinsured hereunder that is either surrendered or partially withdrawn during the current Accounting Period, the Ceding Company will pay the Reinsurer a Commission Chargeback at the end of the Accounting Period equal to (a) plus (b), where: (a) equals the sum of (i) times (ii) times (iii), with respect to each such Annuity, where: (i) equals 1.0 for any Annuity reinsured hereunder that is either surrendered, or incurs a partial withdrawal in the first six policy months, and 0.5 for any Annuity reinsured hereunder that is either surrendered, or incurs a partial withdrawal in policy months seven through twelve; (ii) equals the Commission Rate, as specified in item (i)(a) of Paragraph 1 above; and (iii) equals the total Reinsurance Premiums, determined in accordance with Article II, received with respect to any such Annuity that is surrendered for all Accounting Periods since inception of this Agreement, or the quota share reinsured hereunder, as described in Schedule A, times the gross amount withdrawn for any such Annuity that incurred a partial withdrawal during the current Accounting Period; and (b) equals the product of (i) times (ii), where: (i) equals $230 times the quota share reinsured hereunder, as described in Schedule A; and (ii) equals the number of Base Annuities surrendered as "Free Looks", ," in accordance with the terms of the Annuities reinsured hereunder, during the current Accounting Period.