Common use of Commission Payment Clause in Contracts

Commission Payment. For new Individual Products sold with eligibility effective dates on or after the Effective Date of this Agreement, Agent will receive a commission payment as set forth in the Individual Product Commission Schedule below, or any subsequently published commission payment schedule, which will apply to both original and renewal business as of the date applicable to the published commission schedule, and in conjunction with the timeframe in which the commissions were earned by the Agent (“Commission Fees”). If the monthly Agent commission does not exceed twenty-five dollars ($25.00), Renaissance shall not be obligated to produce a commission check until the commission sum exceeds twenty-five dollars ($25.00) or at a minimum, once per calendar year. Commission Fees will not be paid from billed premiums charged to Individuals. If Individual does not stay enrolled continuously in an Individual Product, but discontinues Individual’s enrollment and later re-enrolls in the Individual Product independently of Agent at a later period, Agent will not receive any Commission Fees from Renaissance. Upon termination of this Agreement for any reason or for no reason, Renaissance shall determine the amount of any Commission Fees then due and owing to Agent and shall make payment of that compensation in the quarter following the next regularly scheduled payment date. Thereafter, all obligations of Renaissance to pay any Commission Fees to Agent shall cease.

Commission Payment. For new Individual Products sold with eligibility effective dates on or after the Effective Date of this Agreement, Agent Producer will receive a commission payment as set forth in the Individual Product Commission Schedule below, or any subsequently published commission payment schedule, which will apply to both original and renewal business as of the date applicable to the published commission schedule, and in conjunction with the timeframe time frame in which the commissions were earned by the Agent Producer (“Commission Fees”). If the monthly Agent Producer commission does not exceed twenty-five dollars ($25.00), Renaissance shall not be obligated to produce a commission check until the commission sum exceeds twenty-five dollars ($25.00) or at a minimum, once per calendar year. Commission Fees will not be paid from billed premiums charged to Individuals. If Individual does not stay enrolled continuously in an Individual Product, but discontinues Individual’s enrollment and later re-enrolls in the Individual Product independently of Agent at a later periodProducer, Agent Producer will not receive any Commission Fees from Renaissance. Upon termination of this Agreement for any reason or for no reason, Renaissance shall determine the amount of any Commission Fees then due and owing to Agent Producer and shall make payment of that compensation in the quarter following the next regularly scheduled payment date. Thereafter, all obligations of Renaissance to pay any Commission Fees to Agent Producer shall cease.