PAYMENT TO REPRESENTATIVE Clause Samples
PAYMENT TO REPRESENTATIVE. In the event that a guardian, conservator or other legal representative has been duly appointed for a Participant entitled to any payment under the Plan, any such payment due may be made to the legal representative making claim therefor, and such payment so made shall be in complete discharge of the liabilities of the Plan therefor and the obligations of the Administrator and the Employer.
PAYMENT TO REPRESENTATIVE a. The Representative shall be entitled to a Commission (the "Commission") equal to five percent (5.00%) of Net Sales, as defined below, for Product sales to Customers in the Territory designated in Exhibit 2 of the Agreement.
b. For the purposes of this Agreement, the term "Net Sales" shall mean the gross sales price for the Products delivered to the Customers minus quantity discounts, cash discounts, and promotional allowances. Slotting/ product placement fees shall not be deducted to arrive at Net Sales.