Regular Commissions. Insurance companies with which the Company places business generally pay the Company commissions for the placement or renewal of policies (“Commissions”). In most cases, Commissions are calculated as a percentage of the premium paid to the insurance company for a specific policy and are included in the Client’s premium costs. Occasionally Commissions may be a fixed amount negotiated between the Company and the insurance company.
Regular Commissions. On the terms and subject to the conditions set forth in this Agreement, during the term of this Agreement, the Executive Representative shall be entitled to a ten percent (10%) commission on the net sales price of Arasys and Perfector sold to his or her customers. For purposes of this Agreement, “net sales price” shall mean the list price of Products, less (A) shipping and handling, (B) taxes and customs of any kind and (C) any training fees and training expenses. The Executive Representative shall be deemed to have earned commissions hereunder only after full payment by customers of the invoiced price. In order for the Executive Representative to receive a commission check, the Executive Representative must give his/her social security number to the Arasys Perfector accounting department. Split Commissions (Percentages are not Cumulative) 10% for show sales that received a purchase order during the show will be split by the “show pool group” of participating clinical educators / sales reps (minus the training fees, training expenses and customs for each sale). Any show sale that received a purchase order within 30 days after the show will be added to the show pool only if (a) did not require an additional demo (b) it did not require the involvement of a clinical educator or sales representative who did not participate in the particular trade show from which the sale originated. 10% for any show lead that closes after the show and requires an additional demo other than the demo performed during the show, will go exclusively to the person(s) who performed the additional demo after the show demo and closed the sale and will not be shared by the other clinical educators or sales representatives that participated at the show-- (the 10% is minus the training fees, training expenses and customs for each sale).
