Ameritech Terminates Clause Samples

Ameritech Terminates. The parties agree that in the event Ameritech exercises its right to terminate for convenience as is provided for under Section 4.2.a of the Agreement, Ameritech will, at its sole election, pay the Authorized Sales Representative either: a) Liquidated damages equal to a sum of the following formula: [The amount of residual commission the Sales Representative would be awarded if all contracts remained in effect through the end of the contract term then in effect provided the Sales Representative remained eligible for residual payments for those customer contracts for the entire term] x (times) [the Ameritech net present value discount rate on the date of termination] x (times) [seventy five percent (75%)]; or, Effective January 1, 1999 Confidential and Proprietary Information of Ameritech. Not to be disclosed to another party without prior written consent of Ameritech b) Pay on a monthly basis Residual Payment for customer sales which are in effect and approved for commission on the date Ameritech terminates the Agreement. Residual Payments will continue through the expiration date of the customer contract in effect at the time Ameritech terminates this Agreement, or until the original expiration date of this Agreement, whichever is sooner.