Common use of COMMISSIONS PAYABLE Clause in Contracts

COMMISSIONS PAYABLE. The commission on any security product or service offered by Equity Sales shall be based on meeting certain minimum production requirements. These requirements will be determined and communicated annually. Those agents who meet the minimum requirement will receive fifty percent (50%) of the net concession for that specific product or service. Those agents who do not meet the minimum shall receive forty percent (40%) of the net concession for that specific product or service.