Common use of Commission Payable Clause in Contracts

Commission Payable. The commission split shall be as follows: UK Sales - Editorial sales shall be 50/50 with 50 per cent of gross sales payable to the photographer. In the event that Commercial sales are cleared the split shall be the same. Overseas Sales - Editorial sales shall be 50/50 with 50 per cent of net sales payable to the photographer. In the event that Commercial sales are cleared the split shall be 50/50 with 50 per cent of net sales payable to the photographer. Agent agrees to report to the Photographer bi-monthly, once the balance of commission outstanding exceeds the minimum level set from time to time (currently £60), on the last day of the month. The report will detail the amounts received by the Agent in the preceding two months, with respect to all licenses of usage rights within the Territories, namely “the collection report”. For example, the report dated 31 March will represent cash received in January and February.

Commission Payable. The commission split shall be as follows: UK Sales - Editorial sales shall be 50/50 with 50 per cent of gross sales payable to the photographer. In the event that Commercial sales are cleared the split shall be the same. Overseas Sales - Editorial sales shall be 50/50 with 50 per cent of net sales payable to the photographer. In the event that Commercial sales are cleared the split shall be 50/50 with 50 per cent of net sales payable to the photographer. Agent agrees to report to the Photographer bi-monthly, once the balance of commission outstanding exceeds the minimum level set from time to time (currently £60), 100) on the last day of the month. The report will detail the amounts received by the Agent in the preceding two months, with respect to all licenses of usage rights within the Territories, namely “the collection report”. For example, the report dated 31 March will represent cash received in January and February.