Vesting of Commissions. Commissions for a sale will be paid during the contractor invoice period in which the sale occurs, subject to chargebacks that may apply to that same period. Chargebacks: All commissions are subject to chargebacks for a period of 180 days. If a period of 180 days lapses during which a customer fails to remit payment for the company’s services, the Contractor who received a commission for the sale will be charged back the same amount previously paid as commission for that sale. In periods where the monthly commission payment is less than the chargeback amount, a negative commission dollar will be deducted from commission payments until the total negative commission value is reimbursed to LOL. Contractor agrees that if either party terminates this Agreement, LOL may withhold the commissions earned in the final invoice period of the Agreement, for a period of 180 days, in order to make any appropriate deductions for chargebacks applicable to that period.
Vesting of Commissions. Subject to Section 2(a), first year and renewal commissions are fully vested in Agent as they accrue at the rate set forth in the Commission Schedule provided, however, as follows:
i. GWIC may terminate Agent’s rights to any unpaid, vested commissions if the Agent is terminated for cause or if all debts are not fully repaid by Agent within sixty (60) days from the date such debts are due.
ii. If at any time following Agent’s termination from GWIC (with or without cause) Agent’s total vested commission(s) from GWIC during a calendar year is less than $1,000, GWIC may, at its option, pay Agent a single lump sum equal to 100 percent of that year’s compensation as full payment in lieu of future vested commissions.
iii. GWIC shall not be obligated to pay vested commissions in the event doing so would be a violation of law.
iv. If the Agreement ends because of Agent’s death, compensation payable to Agent under this Agreement will be paid to Agent’s assigns, if any, otherwise to Agent’s surviving spouse and to Agent’s surviving spouse’s estate thereafter; if Agent dies leaving no assigns or spouse, such compensation will be paid to Agent’s estate.
Vesting of Commissions. If you receive commissions from Us, You agree that, if this Agreement terminates for any reason, first year commissions are 100% vested, subject to the following provisions, which survive termination of this Agreement:
a. Any time Your total compensation from Us during a calendar year is less than $1,000, We may, at Our option, pay You a single lump sum equal to 100% of that year’s compensation as full payment in lieu of future vested commissions.
b. In the event of Your death, compensation payable to You under this Agreement will be paid to Your assigns, if any, otherwise to Your surviving spouse and to Your surviving spouse’s estate thereafter. If You die leaving no assigns or spouse, such compensation will be paid to Your estate.
c. Unless all debts are fully repaid by You within sixty (60) days from the date such debts are due, we may immediately terminate Your rights to any unpaid, vested commissions.
d. If You are terminated for cause or shall fail to conform to the terms and conditions of this Agreement or any other agreement with Us, We may immediately terminate Your rights to any unpaid vested commissions.
Vesting of Commissions. After Your Agreement hereunder terminates, You, or in the case of Your death, Your heirs or legal representatives, shall continue to be paid on policies issued on which applications were received by FSL prior to termination. No such commissions shall be payable, however, if: (1) total net commissions so payable is less than $600 in any calendar year, (2) you attempt to, or assist or acquiesce in any attempt to, cause any policies of FSL, whether or not written by You to lapse or to be rewritten in other company, (3) this Agreement is terminated under section IV Items 1-11,
Vesting of Commissions. All commissions earned will be considered vested for life. Upon Your death, in the absence of any signed, written directions
Vesting of Commissions. All first year and renewal commissions are vested unless you are terminated for cause or removed as agent of record. Commissions will continue to be paid until total commissions earned annually amount to less than $500, at which time the Company has the option of paying, in a lump sum, the present value of future commissions.
Vesting of Commissions. In the event of termination of the Agreement for any reason, all rights to receive commissions, asset-based commissions or other compensation under this Commission Schedule shall be terminated, unless each of the following requirements is met, in which case the up-front commission may vest: (i) the Agreement has been in force for at least one year; (ii) Broker/Dealer is at the time such commissions are payable properly licensed to receive such commissions; (iii) Broker/Dealer is providing service to the Contract Owner and performing its duties in a manner satisfactory to SBL; (iv) commissions paid to Broker/Dealer in the previous calendar year amounted to at least $500; and (v) Broker/Dealer has not been terminated, nor a new Broker/Dealer designated, by the Contract Owner as set forth in paragraph 8 above.
Vesting of Commissions a. Renewal commissions(s) shall be immediately vested and payable as provided in the attached schedules(s) (except for termination of Agreement for cause), subject to the provisions of this Agreement and the attached schedules(s) as long as the Producer complies with all of the terms and conditions thereof.
b. Renewal commission(s) shall continue to be paid as provided in the attached schedule(s) as long as, the Producer complies with all of the terms and conditions thereof, and the total commission payable is at least $120 during the first or subsequent 12 month period(s) commencing on the date of termination. In the event that, after the termination of the Agreement, the total commission(s) payable during any of the aforementioned 12 month periods is less than $120, no further commissions or other compensation will be earned or paid.
c. In the event of death of the Producer (excepting in case the Producer is a partnership) at a time when commission(s) are payable hereunder, than all commissions accrued or thereafter to accrued in accordance with the provisions hereof shall be paid to the surviving spouse of Producer, if any, and upon his/her death, to the estate: if Producer dies leaving no surviving spouse, such commissions shall be payable to the estate of producer.
