Common use of Profit Share Clause in Contracts

Profit Share. [C_PRE_PS10_01_ST] 1. In relation to an insurance period, We shall pay You a profit share subject to the following conditions: (a) the premium for the insurance period has been paid to Us in full. (b) The balance of the profitability account of the insurance period is positive. The profitability account of the insurance period shall refer to the balance between: • on the credit side: the premium paid for the insurance period and • on the debit side (i) the total amount of indemnity paid or to be paid with respect to Deliveries made during the insurance period less the Recoveries related to such Deliveries and received before the profit share is paid and (ii) [x]% of the premium paid. If there is an indemnity for Collection Expenses but the Debt has been paid in full before indemnification by Us, We shall not take into account the indemnity for Collection Expenses in the calculation of the profit share. (c) This Contract shall remain in force for a further insurance period. 2. The amount of the profit share shall be equal to [x] % of the balance of the profitability account, provided that the premium paid for the insurance period after deduction of the profit share exceeds the minimum premium. 3. In order to receive the payment of the profit share You must, within [24 months] from the last day of the insurance period, request from Us in writing the payment of the profit share and submit to Us a waiver whereby You waive your rights to payment of any subsequent indemnities relating to the insurance period. 4. If the balance of the profitability account of an insurance period is negative, the negative balance shall be reported on the debit side of the profitability account of the subsequent insurance period.

Profit Share. [C_PRE_PS10_01_ST] 1. In relation to an insurance period, We shall pay You a profit share subject to the following conditions: (a) the premium for the insurance period has been paid to Us in full. (b) The balance of the profitability account of the insurance period is positive. The profitability account of the insurance period shall refer to the balance between: •  on the credit side: the premium paid for the insurance period and •  on the debit side (i) the total amount of indemnity paid or to be paid with respect to Deliveries made during the insurance period less the Recoveries related to such Deliveries and received before the profit share is paid and (ii) [x]% of the premium paid. If there is an indemnity for Collection Expenses but the Debt has been paid in full before indemnification by Us, We shall not take into account the indemnity for Collection Expenses in the calculation of the profit share. (c) This Contract shall remain in force for a further insurance period. 2. The amount of the profit share shall be equal to [x] % of the balance of the profitability account, provided that the premium paid for the insurance period after deduction of the profit share exceeds the minimum premium. 3. In order to receive the payment of the profit share You must, within [24 months] from the last day of the insurance period, request from Us in writing the payment of the profit share and submit to Us a waiver whereby You waive your rights to payment of any subsequent indemnities relating to the insurance period. 4. If the balance of the profitability account of an insurance period is negative, the negative balance shall be reported on the debit side of the profitability account of the subsequent insurance period.

Profit Share. [C_PRE_PS10_01_ST] 1. In relation to an insurance period, We shall pay You a profit share subject to the following conditions: (a) the The premium for the insurance period has been paid to Us in full. (b) The balance of the profitability account of the insurance period is positive. The profitability account of the insurance period shall refer to the balance between: • on  On the credit side: the premium paid for the insurance period and • on  On the debit side side (i) the The total amount of indemnity paid or to be paid with respect to Deliveries made during the insurance period less the Recoveries related to such Deliveries and received before the profit share is paid and and (ii) [x]% of the premium paid. If there is an indemnity for Collection Expenses but the Debt has been paid in full before indemnification by Us, We shall not take into account the indemnity for Collection Expenses in the calculation of the profit share. (c) This Contract shall remain in force for a further insurance period. 2. The amount of the profit share shall be equal to [x] % of the balance of the profitability account, provided that the premium paid for the insurance period after deduction of the profit share exceeds the minimum premium. 3. In order to receive the payment of the profit share You must, within [24 months] from the last day of the insurance period, request from Us in writing the payment of the profit share and submit to Us a waiver whereby You waive your rights to payment of any subsequent indemnities relating to the insurance period. 4. If the balance of the profitability account of an insurance period is negative, the negative balance shall be reported on the debit side of the profitability account of the subsequent insurance period.