Common use of Agent Compensation Clause in Contracts

Agent Compensation. Provided Agent is in compliance with all terms of this Agreement and all applicable laws and licensing requirements, Agent shall be compensated according to the Commission Schedules and Ultimate Builder Multi-Pay System in Agent’s back office. Some or all of Agent’s commissions may be paid directly by an Insurance Company and not FEG. It is the Agent’s responsibility to regularly check the FEG Products and Points Multipliers Schedule as insurance companies periodically adjust commissions and total payouts. A. Commissions to which Agent or Agent’s hierarchy may be entitled shall be payable to the Agent or a downline Agent (as applicable) only after the due date of the commissions payable from the Insurance Companies of issued business. B. No commission will be paid on payments/premiumsthat are waived, refunded or not honored by a bank or financial institution. Any commissions received by Agent that are based upon any waived or refunded payments/premiums shall be promptly returned to FEG by the Agent and such commissions shall constitute an Indebtedness owed by Agent to FEG until returned. See Section 5(G) below. C. Other than the commissions and other compensation set forth in the Commission Schedules, the Guidelines and Points Multipliers and the Ultimate Builder Multi-Pay System, Agent shall be entitled to no additional compensation or reimbursement for expenses. Commissions payable on a single policy or contract may be divided between the Agent and other Agents contracted with FEG. In such cases, payments shall be allocated among Agents proportionately by FEG for commission payment purposes only. D. With most Insurance Companies, FEG will prepay seventy-five percent (75%) of first year commissions due on life insurance policies sold by the Agent (this percentage may vary based on the company). The twenty-five percent (25%) remaining first year commission will be paid on an “as- earned” basis upon receipt of the tenth, eleventh and twelfth months’ premium. E. Only commissions earned on applications written after the date FEG has approved this FEG Agent Agreement are eligible for advance commission payments. Advance commissions are available on life insurance policies that have recurring premiums paid under a monthly pre-authorized check plan. For IUL and other life insurance plans, advance commissions are available on the planned premium up to the target or commissionable premium of the issued and paid policy less any non-commissionable policy fees. Specifically excluded from advance commission eligibility are annuities, life F. All advances will be made upon full payment of the first month premium and the cash payment of said advance will become a loan to the Agent to the extent of the amount advanced, subject of the rules of the issuing Insurance Company and upon issuance of the policy. This provision does not apply to advance on submit commissions (See Advance on Submit Commission Addendum for details). G. Advance Commission Cap. Advance commission is limited to $3,500 for any one policy individually for newly licensed Agents. FEG retains the right to remove Agent from this Advance Commission. Agent must be in good standing with FEG and have acceptable persistency, which is 75% in force business at the 13th month. See Policies and Procedures for additional details on Advance Commission Cap. This provision does not apply to advance on submit commissions (See Advance on Submit Commission Addendum for details). H. Except as otherwise provided in this Agreement, and subject to the terms of this Section 4, if and when an Agent qualifies for and achieves certain sales position designations established by FEG from time to time pursuant to The Commission Schedules and the Guidelines and Points Multipliers, Agent shall become Vested and entitled to receive commissions upon termination of this Agreement subject to the following: (a) if Agent is a natural person, this Agreement shall terminate immediately upon the death or termination of Agent and any commissions due and payable to Agent at the time of death, or any time thereafter shall be paid to the executor or administrator of Agent’s estate, or to Agent’s assignee, as applicable; (b) if Agent’s total compensation (from all lines) from FEG in any calendar year is less than $300.00, FEG shall have the right to terminate this Agreement upon written notice to Agent and no commissions shall be payable to Agent after the termination date; (c) Commissions shall be payable for so long as the Agent is designated as “Agent of Record” by a participating Insurance Company or by the policyholder when commissions are received by FEG, and the Agent

Agent Compensation. Provided Agent is in compliance with all terms of this Agreement and all applicable laws and licensing requirements, Agent shall be compensated according to the Commission Schedules and Ultimate Builder Multi-Pay System in Agent’s back office. Some or all of Agent’s commissions may be paid directly by an Insurance Company and not FEGIFP. It is the Agent’s responsibility to regularly check the FEG IFP Products and Points Multipliers Schedule as insurance companies periodically adjust commissions and total payouts. A. Commissions to which Agent or Agent’s hierarchy may be entitled shall be payable to the Agent or a downline Agent (as applicable) only after the due date of the commissions payable from the Insurance Companies of issued business. B. No commission will be paid on payments/premiumsthat premiums that are waived, refunded or not honored by a bank or financial institution. Any commissions received by Agent that are based upon any waived or refunded payments/premiums shall be promptly returned to FEG IFP by the Agent and such commissions shall constitute an Indebtedness owed by Agent to FEG IFP until returned. See Section 5(G) below. C. Other than the commissions and other compensation set forth in the Commission Schedules, the Guidelines and Points Multipliers and the Ultimate Builder Multi-Pay System, Agent shall be entitled to no additional compensation or reimbursement for expenses. Commissions payable on a single policy or contract may be divided between the Agent and other Agents contracted with FEGIFP. In such cases, payments shall be allocated among Agents proportionately by FEG IFP for commission payment purposes only. D. With most Most Insurance Companies, FEG will Companies prepay or advance between seventy-five percent (75%) and one-hundred percent (100%) of first year commissions due on life insurance policies sold by the Agent (this percentage may vary based on the companycompany and product). The twenty-five percent (25If the prepay is less than 100%) , IFP will pay to agents any remaining first year commission commissions, after commissions are paid by the insurance company to IFP. These will be paid in the 10th, 11th and 12th months after the policy is issued. No commissions are due if the policy is charged-back or canceled. IFP reserves the right to pay first year commissions on an “as- as-earned” basis upon receipt basis, or 1/12th of the tenth, eleventh and twelfth months’ premiumfirst year commissions per month in the first year. This option may be chosen due to poor agent persistency or other metrics as IFP defines from time to time in its sole discretion. E. Only commissions earned on applications written after the date FEG IFP has approved this FEG IFP Agent Agreement are eligible for advance commission payments. Advance commissions are available on life insurance policies that have recurring premiums paid under a monthly pre-authorized check plan. For IUL and other life insurance plans, advance commissions are available on the planned premium up to the target or commissionable premium of the issued and paid policy less any non-commissionable policy fees. Specifically excluded from advance commission eligibility are annuities, lifelife premium in excess of target premium, single premium life insurance, controlled business (all family members and business partners), and additional deposits received in conjunction with the sale of individual life insurance and annuity policies (“New Business”). Premiums paid on a premium mode other than Pre-Authorized Checking (PAC) are not eligible for advance commissions. Agents must have good credit standing in order to qualify for advance commissions. IFP, in its sole discretion, can approve or disapprove commission advance payments. F. All advances will be made upon full payment of the first month premium and the cash payment of said advance will become a loan to the Agent to the extent of the amount advanced, subject of the rules of the issuing Insurance Company and upon issuance of the policy. This provision does not apply to advance on submit commissions (See Advance on Submit Commission Addendum for details). G. Advance Commission Cap. Advance commission is limited to $3,500 for any one policy individually for newly licensed Agents. FEG IFP retains the right to remove Agent from this Advance Commission. Agent must be in good standing with FEG IFP and have acceptable persistency, which is 75% in force business at the 13th month. See Policies and Procedures for additional details on Advance Commission Cap. This provision does not apply to advance on submit commissions (See Advance on Submit Commission Addendum for details). H. Except as otherwise provided in this Agreement, and subject to the terms of this Section 4, if and when an Agent qualifies for and achieves certain sales position designations established by FEG IFP from time to time pursuant to The Commission Schedules and the Guidelines and Points Multipliers, Agent shall become Vested and entitled to receive commissions upon termination of this Agreement subject to the following: (a) if Agent is a natural person, this Agreement shall terminate immediately upon the death or termination of Agent and any commissions due and payable to Agent at the time of death, or any time thereafter shall be paid to the executor or administrator of Agent’s estate, or to Agent’s assignee, as applicable; (b) if Agent’s total compensation (from all lines) from FEG IFP in any calendar year is less than $300.00, FEG IFP shall have the right to terminate this Agreement upon written notice to Agent and no commissions shall be payable to Agent after the termination date; (c) Commissions shall be payable for so long as the Agent is designated as “Agent of Record” by a participating Insurance Company or by the policyholder when commissions are received by FEGIFP, and the AgentAgent is servicing the business in a manner satisfactory to IFP and in compliance with all terms of this Agreement; (d) no Commissions shall be payable to Agent if this Agreement is terminated “For Cause” pursuant to Section 6 below; and (e) Commissions set forth in the Commission Schedules or IFP Guidelines and Points Multipliers may be amended upon notice from IFP and such amendment(s) shall become effective at the time specified in the notice. No such amendment shall affect commissions payable with respect to any policy or contract issued from an application issued and paid prior to the effective date of such amendment.

Agent Compensation. Provided Agent is in compliance with all terms of this Agreement and all applicable laws and licensing requirementsrequirements including errors and omissions insurance coverage, and anti-money laundry rules and regulations, Agent shall be compensated according to the Commission Schedules and Ultimate Builder Multi-Pay System NFGB Infinity Compensation Plan in the Agent’s back officeportal on the NFGB website. Some or all of Agent’s commissions may be paid directly by an Insurance Company insurance company and not FEGNFGB. It is the Agent’s responsibility to regularly check the FEG Products and Points Multipliers Schedule as insurance companies periodically adjust commissions and total payouts. A. Commissions to which Agent or Agent’s hierarchy may be entitled shall be payable to the Agent or a downline Agent (as applicable) only after the due date of the commissions payable from the Insurance Companies of issued business. B. No commission will be paid on payments/premiumsthat premiums that are waived, refunded or not honored by a bank or financial institution. Any commissions received by Agent that are based upon any waived or refunded payments/premiums shall be promptly returned to FEG NFGB and the applicable carrier by the Agent and such commissions shall constitute an Indebtedness owed by Agent to FEG until returnedAgent. See Section 5(G) below. C. Other than the commissions and other compensation set forth in the Commission Schedules, the Guidelines and Points Multipliers and the Ultimate Builder Multi-Pay Systemcommissions, Agent shall be is not entitled to no any additional compensation or reimbursement for expenses. Commissions payable on a single policy or contract may be divided between the Agent and other Agents contracted with FEGNFGB. In such cases, payments shall be allocated among Agents proportionately by FEG for commission payment purposes only. D. With most Insurance Companies, FEG NFGB. Most insurance companies will prepay pay up to seventy-five percent (75%) of first year commissions due on life insurance policies sold by the Agent (this percentage may vary based on the company). The twenty-five percent (25%) remaining first year commission will be paid on an “as- earned” basis upon receipt of the tenth, eleventh and twelfth months’ premium. E. Only commissions earned on applications written after the date FEG has approved this FEG Agent Agreement are eligible for advance commission payments. Advance commissions are available on life insurance policies that have recurring premiums paid under a monthly pre-authorized check plan. For IUL and other life insurance plans, advance commissions are available on the planned premium up to the target or commissionable premium of the issued and paid policy less any non-commissionable policy fees. Specifically excluded from advance commission eligibility are annuities, life F. All advances Commission will be made upon full payment of the first month premium and the cash payment of said advance will become a loan to the Agent to the extent of the amount advanced, subject of the rules of the issuing Insurance Company insurance company and upon issuance of the policy. This provision does not apply to advance on submit commissions (See Advance on Submit Commission Addendum for details). G. Advance Commission Cap. Advance commission is limited to $3,500 for any one policy individually for newly licensed Agents. FEG retains the right to remove Agent from this Advance Commission. Agent must be in good standing with FEG and have acceptable persistency, which is 75% in force business at the 13th month. See Policies and Procedures for additional details on Advance Commission Cap. This provision does not apply to advance on submit commissions (See Advance on Submit Commission Addendum for details). H. Except as otherwise provided in this Agreement, and subject to the terms of this Section 4, if and when an Agent qualifies for and achieves certain sales position designations established by FEG NFGB from time to time pursuant to The Commission Schedules and the Guidelines and Points Multipliers, such as Regional Marketing Director (“RMD”) or higher and “on” record earned six (6) figure income in a 12 rolling month period or on a 52 rolling week period, Agent shall become Vested vested and entitled to receive commissions upon termination of this Agreement subject to the following: (a) if If Agent is a natural person, this Agreement shall terminate immediately not be terminated upon the death or termination of Agent. Agent’s beneficiary “on” record have up to 45 business days, to assume this Agreement. Agent’s beneficiary MUST be at least 18 years of age and meet the NFGB and Carriers guidelines set forth in this Agreement, refer to Section 4. If no beneficiary claims the business within the 45 business days, the deceased Agent and any commissions due and payable to Agent at his/her family including all beneficiaries shell automatically forfeit the time of death, or any time thereafter shall be paid business to the executor or administrator of Agent’s estatenext agent up from the Agent in the agency hierarchy. In the event where Agent is terminated base on “cause”, or refer to Agent’s assignee, as applicable; (b) if Agent’s total compensation (from all lines) from FEG in any calendar year is less than $300.00, FEG shall have the right to terminate this Agreement upon written notice to Agent and no commissions shall be payable to Agent after the termination date; (c) section 6. Commissions shall be payable for so long as the Agent is designated as “Agent of Record” by a participating Insurance Company Company. And the Agent is servicing the business in a manner satisfactory to NFGB and in compliance with all terms of this Agreement; No commissions shall be payable to Agent if this Agreement is terminated “For Cause” pursuant to section 6 below. and Commissions set forth in the Commission Schedules or by NFGB Guidelines and Points Multipliers may be amended upon notice from NFGB and such amendment(s) shall become effective at the policyholder when time specified in the notice. No such amendment shall affect commissions are received by FEG, payable with respect to any policy or contract issued from an application issued and paid prior to the Agenteffective date of such amendment.

Agent Compensation. Provided Agent is in compliance with all terms of this Agreement and all applicable laws and licensing requirements, Agent shall be compensated according to the Commission Schedules and Ultimate Builder Multi-Pay System in Agent’s back office. Some or all of Agent’s commissions may be paid directly by an Insurance Company and not FEG. It is the Agent’s responsibility to regularly check the FEG Products and Points Multipliers Schedule as insurance companies periodically adjust commissions and total payouts. A. Commissions to which Agent or Agent’s hierarchy may be entitled shall be payable to the Agent or a downline Agent (as applicable) only after the due date of the commissions payable from the Insurance Companies of issued business. B. No commission will be paid on payments/premiumsthat premiums that are waived, refunded or not honored by a bank or financial institution. Any commissions received by Agent that are based upon any waived or refunded payments/premiums shall be promptly returned to FEG by the Agent and such commissions shall constitute an Indebtedness owed by Agent to FEG until returned. See Section 5(G) below.and C. Other than the commissions and other compensation set forth in the Commission Schedules, the Guidelines and Points Multipliers and the Ultimate Builder Multi-Pay System, Agent shall be entitled to no additional compensation or reimbursement for expenses. Commissions payable on a single policy or contract may be divided between the Agent and other Agents contracted with FEG. In such cases, payments shall be allocated among Agents proportionately by FEG for commission payment purposes only. D. With most Most Insurance Companies, FEG will Companies prepay or advance between seventy-five percent (75%) of first year commissions due on life insurance policies sold by the Agent (this percentage may vary based on the company). The twenty-five percent (25%) remaining first year commission will be paid on an “as- earned” basis upon receipt of the tenth, eleventh and twelfth months’ premium.and E. Only commissions earned on applications written after the date FEG has approved this FEG Agent Agreement are eligible for advance commission payments. Advance commissions are available on life insurance policies that have recurring premiums paid under a monthly pre-authorized check plan. For IUL and other life insurance plans, advance commissions are available on the planned premium up to the target or commissionable premium of the issued and paid policy less any non-commissionable policy fees. Specifically excluded from advance commission eligibility are annuities, lifemonthly F. All advances will be made upon full payment of the first month premium and the cash payment of said advance will become a loan to the Agent to the extent of the amount advanced, subject of the rules of the issuing Insurance Company and upon issuance of the policy. This provision does not apply to advance on submit commissions (See Advance on Submit Commission Addendum for details). G. Advance Commission Cap. Advance commission is limited to $3,500 for any one policy individually for newly licensed Agents. FEG retains the right to remove Agent from this Advance Commission. Agent must be in good standing with FEG and have acceptable persistency, which is 75% in force business at the 13th month. See Policies and Procedures for additional details on Advance Commission Cap. This provision does not apply to advance on submit commissions (See Advance on Submit Commission Addendum for details). H. Except as otherwise provided in this Agreement, and subject to the terms of this Section 4, if and when an Agent qualifies for and achieves certain sales position designations established by FEG from time to time pursuant to The Commission Schedules and the Guidelines and Points Multipliers, Agent shall become Vested and entitled to receive commissions upon termination of this Agreement subject to the following: (a) if Agent is a natural person, this Agreement shall terminate immediately upon the death or termination of Agent and any commissions due and payable to Agent at the time of death, or any time thereafter shall be paid to the executor or administrator of Agent’s estate, or to Agent’s assignee, as applicable; (b) if Agent’s total compensation (from all lines) from FEG in any calendar year is less than $300.00, FEG shall have the right to terminate this Agreement upon written notice to Agent and no commissions shall be payable to Agent after the termination date; (c) Commissions shall be payable for so long as the Agent is designated as “Agent of Record” by a participating Insurance Company or by the policyholder when commissions are received by FEG, and the AgentAgent is servicing the business in a manner satisfactory to FEG and in compliance with all terms of this Agreement;