Commission Reduction Sample Clauses
A Commission Reduction clause defines the circumstances under which the commission payable to a party, typically a sales agent or broker, may be decreased. This clause may specify triggers for reduction, such as partial performance, early termination of the agreement, or the involvement of additional parties who share in the commission. For example, if a sale closes at a lower price than anticipated or if the client procures the buyer independently, the commission might be adjusted accordingly. The core function of this clause is to ensure fairness and transparency in compensation, preventing disputes by clearly outlining when and how commissions can be reduced.
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Commission Reduction. The commission rates shown above will be reduced as follows:
a.) For traditional fixed products: 20% for Annuitant issue ages 76 - 80 & 40% for Annuitant issue ages 81 – 85.
b.) For Keystone Index products: 20% for Annuitant issue ages 81-85.
Commission Reduction. (i) InterMune must perform a minimum of [*] Aralast Details per quarter, to at least [*] per year, in accordance with the Frequency Requirement, in order to earn the full commission. In the event InterMune fails to achieve these objectives, its commissions shall be reduced or terminated as set forth below. The difference between the actual number of Aralast Details performed, [*] visited and frequency of Aralast Details and the requirements set forth above shall be considered the “shortfall” or “overage,” as applicable. CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY BRACKETS, HAS BEEN OMITTED AND FILED SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION PURSUANT TO RULE 24b-2 OF THE SECURITIES EXCHANGE ACT OF 1934, AS AMENDED.
(1) In the event InterMune fails to achieve these objectives and the shortfall is [*] or less, then total commissions payable shall be reduced by the greater of [*] or [*].
(2) In the event InterMune fails to achieve these objectives and the shortfall is more than [*] but less than [*], then total commissions payable shall be reduced by the greater of [*] or [*].
(3) In the event InterMune fails to achieve these objectives and the shortfall is more than [*], then [*] shall be paid for [*].
(4) In the event that InterMune fails to achieve these objectives and there is any shortfall of more than [*] for more than for [*] calendar [*], ▇▇▇▇▇▇ may terminate this Agreement by 30-days prior written notice. Provided that InterMune does not violate the terms of the non-competition requirements set forth in Section 10, the foregoing are ▇▇▇▇▇▇’▇ sole and exclusive remedies with respect to any shortfall.
(ii) Notwithstanding the foregoing, no shortfall will be deemed to have occurred if, during the immediately preceding or succeeding [*] falling within the same calendar year, the overage offsets the shortfall for the current [*]. InterMune shall not be permitted to take into account any “overage “taking place in a quarter that does not take place in the same calendar year as the shortfall.
(iii) Notwithstanding the foregoing, no shortfall will be deemed to have occurred to the extent attributable to ▇▇▇▇▇▇’▇ failure to supply sufficient Aralast to meet market demand for any reason or other material breach of ▇▇▇▇▇▇’▇ obligations hereunder.
Commission Reduction. Section 9.1 of the Agreement is hereby modified to reflect that the Purchaser's Broker commission shall be $1,490,000.
Commission Reduction