Commission Schedule Addendum Sample Clauses
A Commission Schedule Addendum is a contractual provision that outlines the specific terms and rates for commissions payable under an agreement. It typically details the percentage or amount of commission, the conditions under which commissions are earned, and the timing of payments, often referencing particular products, services, or sales milestones. By clearly defining how and when commissions are calculated and paid, this addendum helps prevent disputes and ensures both parties have a mutual understanding of compensation expectations.
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Commission Schedule Addendum. This Commission Schedule Addendum is incorporated into and made a part of the Amended and Restated Managing General Agency Agreement as of the effective date shown below. General Agent shall be allowed to withhold Minimum and Provisional Commission of [**]% of Net Written Premium provided General Agent is not in default of terms contained in this Amended and Restated Agreement. Out of the [**]% Minimum and Provisional Commission, General Agent shall pay Company each month:
Commission Schedule Addendum. More than one Commission Schedule Addendum may be attached to this Agreement, and each Commission Schedule Addendum may be amended by Company and General Agent without otherwise affecting the terms and conditions of this Agreement. All such amendments shall be in writing, executed by the Parties, and specify the effective date thereof.