Producer Compensation definition

Producer Compensation means any compensation commitments, whether written or oral, that have been assumed by either Allianz New York or Allianz Life to pay to persons selling, soliciting and negotiating certain New York Insurance Contracts or certain North America Insurance Contracts, as applicable, to such persons or agreements as set forth on Exhibit A-9 hereto.
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Examples of Producer Compensation in a sentence

  • Subject to the conditions of this Agreement and only as provided in the applicable Producer Compensation Schedule in effect on the date the Application for the Contract is signed, the Issuing Company will pay Producer compensation on any Contract in accordance with the applicable commission cycle.

  • Employee also understands that the Company Producer Compensation System is not a part of this Employment Agreement.

  • This 2023 Producer Compensation Schedule provides a summary of the compensation rates and rules.

  • The Producer Compensation Schedules, as amended from time to time, are incorporated by reference into this Agreement and govern the parties’ agreement with respect to compensation.

  • The Producer shall be compensated in accordance with the terms of this Agreement, the Schedule of Commissions set forth in Schedule A1/B1 and the Producer Compensation Plan or Schedule C, if any, for the Producer’s classification.

  • For example, if an Initial Enrollment is effective June 1, 2020, and the Enrollee re-enrolls in the same plan for the plan year beginning January 1, 2021, the Producer Compensation owed to Producer will accrue on January 1, 2021; not June 1, 2021.

  • Notwithstanding anything to the contrary provided in the Agreement or this Exhibit 2, Producer acknowledges and agrees that Company will charge back to Producer all Producer Compensation paid to Producer for the sale or renewal of a Medicare Product in accordance with CMS requirements and Company’s policies and procedures.

  • Producer shall be paid the full Producer Compensation for an Initial Enrollment in the amount set out in the above chart under heading “Producer Compensation (Initial Enrollment)”, regardless of the effective date of the enrollment.

  • As its sole compensation from the sale of the Company's Service Warranty Agreements, Producer shall be permitted to retain the difference between the retail price collected by Producer from the sale of the Service Warranty Agreements and the Producer Cost (the "Producer Compensation").

  • The Reinsurer will pay to the Company an amount equal to any commissions, overriding commissions, and service fees that the Company shall pay to Producers in accordance with the terms of Producer Compensation Agreements, as currently in force on the Effective Date, on all premiums due and payable on Reinsured Policies on and after the Effective Date.