Fixed Commission. “The Client agrees to pay the Company a commission of 10% of the total Client Fee amount per Transaction which shall be deducted from the client’s payment. Company shall remit all collected Client Fee payments for completed rentals minus applicable commission and any End User refunds to the Client on a monthly basis, and such funds must be sent by Company to Client by the 20th day of the following month.” Option 3: pass-through “Company shall charge End Users a service fee in the amount of 8% to 12% of the total Client Fee amount per Transaction. Company shall remit all collected Client Fee payments for completed rentals minus any End User refunds to the Client on a monthly basis, and such funds must be sent by Company to Client by the 20th day of the following month.” The service fee charged to the End User is based on the total Client Fee amount charged by the Client in each bracket as in the table above. Option 4: split “Company shall charge End Users a service fee in the amount of 5% of the total Client Fee amount per Transaction. The Client agrees to pay the Company a commission of 5% of the total Client Fee amount per Transaction, which shall be deducted from the Client’s payment. Company shall remit all collected Client Fee payments for completed rentals minus applicable commission and any End User refunds to the Client on a monthly basis, and such funds must be sent by Company to Client by the 20th day of the following month.” Company does not charge any fees for bookings that result in a $0 total fee to the requester. Client has the ability to change facility use request prices and fees at any time, and the Company’s service fee and commission will be automatically adjusted accordingly. For example, if the Client adjusts prices and fees for a particular reservation to $0 then the Company’s service fee and commission will automatically adjust to $0. Option 1 (variable commission) will be used if section below is left blank. Fee Option Selection for Initial implementation Client selects Option
Fixed Commission. The Profit Share shall apply separately to each twelve month period this Contract remains in effect (“Contract Year”) and will be adjusted quarterly, the first adjustment to be made 1st April 2013. Reinsured’s Profit Share is 50% of the amount by which Incurred Net Loss Ratio is below 65% of the Original Net Premium. For purposes of calculating Profit Share, multi-year policies will be split into individual years so that the maximum original policy period in a Contract Year shall be 12 months plus odd time not exceeding 18 months in all. The first Contract Year will be 1st April, 2011 through 31st March, 2012, both days inclusive, including the in force exposures at 1 April 2011. Subsequent Contract Years will begin at 1st April of each year.”
Fixed Commission. As part of the consideration for the rights and obligations set forth herein, Contractor will pay OSU a fixed commission of [XXXX] at the beginning of the contract year, which will be July 1 through June 30 (“Contract Year”). Payment of the fixed commission shall be made in full no later than thirty (30) days following the first day of the Contract Year. Percent Commission: In addition to the fixed commission, Contractor shall pay to OSU a percent commission as follows: [XXXX] percent [XX%] of Gross Sales. The percent commission is in addition to and separate from the fixed commission. Gross Sales Defined:
Fixed Commission. Each July, beginning July 2022 through July 2029, Sodexo shall provide to Client an amount equal to Seventy-Five Thousand Dollars ($75,000). This is eight payments of $75,000 each, totaling $600,000.” The remainder of this page has been intentionally left blank.
Fixed Commission. The Profit Share will apply separately to each twelve month period this Contract remains in effect (“Contract Year”) and will be adjusted quarterly, the first adjustment to be made 1st April 2013. Reinsured’s Profit Share is 50% of the amount by which Incurred Net Loss Ratio is below 65% of the Original Net Premium. For purposes of calculating profit share, multi-year policies shall be split into individual years so that the maximum original policy period in a Contract Year shall be 12 months plus odd time not exceeding 18 months in all. In the event that the Reinsured exercises its Inforce Option as described above, the premium and losses reinsured under that option will be combined with the first Contract Year for the calculation of the Profit Share. The first Contract Year will be- April 2, 2011 through March 31, 2012, both days inclusive, and subsequent Contract Years will begin April 1 of each year)
Fixed Commission. The Profit Share will apply separately to each twelve month period this Contract remains in effect (“Contract Year”) and will be adjusted quarterly, the first adjustment to be made 1st April 2013. Reinsured’s Profit Share is 50% of the amount by which Incurred Net Loss Ratio is below 65% of the Original Net Premium. For purposes of calculating profit share, multi-year policies shall be split into individual years so that the maximum original policy period in a Contract Year shall be 12 months plus odd time not exceeding 18 months in all. In the event that the Reinsured exercises its Inforce Option as described above, the premium and losses reinsured under that option will be combined with the first Contract Year for the calculation of the Profit Share. The first Contract Year will be- April 2, 2011 through March 31, 2012, both days inclusive, and subsequent Contract Years will begin April 1 of each year). “Incurred Net Loss Ratio” shall be defined as net paid and outstanding Losses (inclusive of IBNR as established by the Reinsured after consultation with the Reinsurer), being paid and outstanding Losses (“Losses” being further defined under the Loss Settlement Clause) less third party recoveries, divided by Original Net Premium (as defined above) for risks attaching during the Contract Year, as a percentage. Brokerage 1.25% on Original Net Premium ceded. Accounts Accounts of the transactions between the Reinsured and the Reinsurer hereunder both in respect of premiums and Losses and all items relative to these risks, separately for each Contract Year, shall be rendered by the Reinsured to the Reinsurer quaterly and received by the Reinsuer within 30 (Thirty) days after the end of each quarter. After receipt of the account by the Reinsurer the balance due hereon shall be paid within 30 (Thirty) days thereafter. The Reinsured shall provide a full individual claim listing quarterly for each of the risks ceded hereunder. Cash Loss Limit Should any claim payment hereunder in respect of any loss to this Contract exceed EUR 50,000 (Fifty thousand Euros) (for 100%) or currency equivalent then the Reinsured may request special payment by the Reinsurer of the relative amount of such Cash Claim on submission in writing of full loss details. Amounts falling to the share of the Reinsurer will be due immediately (and in any event within 30 days). Reinsurer Contract Documentation This document details the contract terms entered into by the Reinsurer and constitutes the ...
