Final Commission Payment Sample Clauses
The Final Commission Payment clause defines the terms under which the last commission payment is calculated and disbursed to a party, typically at the conclusion of a contract or upon fulfillment of certain obligations. This clause usually specifies the timing, method of calculation, and any conditions that must be met before the final payment is made, such as the completion of all sales or services and the receipt of final payments from clients. Its core practical function is to ensure both parties have a clear understanding of when and how the final commission will be paid, thereby preventing disputes and ensuring a smooth conclusion to the business relationship.
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Final Commission Payment. On March 31, 2008, T▇▇▇▇▇▇▇ will receive a final commission payment of $9,375 (subject to normal tax withholding). This negotiated payment amount shall be final, and is in lieu of any other post-termination commissions and/or accrued but unpaid minimum guaranteed commission or bonus due or to become due under the Employment Agreement and/or the Company’s sales compensation plan. T▇▇▇▇▇▇▇ expressly acknowledges and agrees that no other past or future bonuses or commissions are owed to him or will be claimed by him on any basis.
Final Commission Payment. The Contractor shall submit the final commission payment to the Department no more than forty-five (45) days after the end date of this Contract. If the Contractor fails to do so, the Contractor agrees to submit additional payment in the amount of fifteen hundred dollars ($1,500.00) per day for each day of late submission (See Section II., R., 2., e.).