Commission Override Clause Samples
A Commission Override clause establishes the right for a party, typically a manager or broker, to receive additional commission payments beyond the standard rate under certain conditions. This clause often applies when a subordinate or secondary agent earns a commission, allowing the primary party to receive a percentage of that commission as an override. For example, if a sales manager oversees a team, they may receive an override on sales closed by their team members. The core function of this clause is to incentivize oversight and management, ensuring that those who contribute to the success of a sales team are compensated for their supervisory role.
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Commission Override. The Company shall pay a commission override in the amount of .25% (1/4 of 1%) of Net Revenues of the Company in excess of $15,000,000 annually commencing with the Effective Date, which commission override shall be paid within sixty (60) days after the end of the annual period for which it has been earned.
Commission Override. An override equal to 6% of net earned first-year commission will be paid on individual life insurance policies credited to the Specialty Broker as defined in Section 11 of the Specialty Broker Agreement. No override is paid in renewal years. ADDITIONAL RENEWAL COMPENSATION Additional renewal compensation (ARC) will be calculated and paid at the end of each calendar quarter based on cumulative net commissionable basic premiums paid on Corporate Specialty Markets ("CSM") policies of brokers associated to the Specialty Broker. The percentage payable will be calculated in accordance with the following schedule: ARC Payable on ARC Payable on Earned First Year 2nd and 3rd Year 4th through 10th Year Commissionable Basic Commissionable Basic Commissionable Basic Premium During Premium Paid During Premium Paid During Prior Calendar Year Current Calendar Year Current Calendar Year 0 to 99,999 0% 0% 100,000 to 499,999 2% 0% 500,000 to 999,999 3% 0% 1,000,000 to 2,499,999 5% 1% 2,500,000 to 4,999,999 8% 2% 5,000,000 to 9,999,999 12% 3% 10,000,000 to 14,999,999 13% 3% 15,000,000 & OVER 15% 3% Notes:
Commission Override. In the event the Tenant is represented by an outside broker, agent shall receive an override commission equal to 150% of the amounts detailed in the commission schedule and the total commission shall be divided between the brokers with the cooperating agent receiving 1 full commission and ▇▇▇▇▇▇▇▇▇▇▇▇▇.▇▇▇ Inc. receiving an additional ½ commission. The outside broker shall be offered a commission equal to the commission calculation described above. In the event that outside broker requests a commission that is greater than the commission described above, then agent shall have outside broker present their request in writing and said request must be approved by owner in writing in order to be acceptable and the commissions will be divided based on the revised calculation with one full commission payable to the cooperating broker and an additional half paid to Agent. In the event that the property is sold, or a contract for sale is executed by the owner, during the term of the listing agreement, or in the 180 days following the termination of the agreement, Agent shall be entitled to receive at closing, a commission equal to % of the total sales price. If there is a cooperating broker representing the buyer in the transaction, the Agent shall pay one-half of the sale commission received, to the cooperating broker at closing. In the event that there are ongoing negotiations and discussions with a prospective buyer after the termination of this agreement and the 180 day period, then Agent shall be entitled to receive the full sales commission if the prospective buyer purchases the property after the 180 days. This Agreement shall be binding upon and insure to the benefit of Owner and Agent and their respective successors and assigns. It is illegal for either the owner or the broker to refuse to display or sell to any person because of one’s membership in a protected class, e. g: race, color, religion, national origin, gender, ancestry, age, marital status, physical or mental disability, family status or any other class protected by Article 3 of the Illinois Human Rights Act.
Commission Override. Employee will be entitled to receive a commission override of up to .5% of all of the Company’s net sales, all as determined by the Company’s Compensation Committee on an annual basis. The percentage amount of the commission override and the net sales included and excluded from the commission override shall be determined by the Company’s Compensation Committee on an annual basis.
1. Employee to receive four weeks paid vacation each calendar year.
2. Employee to receive life, medical and dental insurance through the plan adopted by the Company for its full time employees.
3. Employee shall be entitled to participate in a 401(k) plan adopted by the Company for its full time employees, including any matching arrangements in effect from time to time.
Commission Override. Additionally, AGC or the Trust shall pay to ▇▇▇▇▇▇▇▇, a