Compensation after Termination of Agreement. After termination of this Agreement, Broker will pay Associate any amount earned before termination less amounts owed to Broker and amounts Broker must pay another licensee to complete pending transactions for which Associate was responsible before termination.
Compensation after Termination of Agreement. After termination of this Agreement, Broker will reduce above mentioned split by an additional 10% and will pay Associate any amount earned prior to termination less amount owed to Broker and amounts Broker must pay another licensee to complete pending transactions for which Associate was responsible prior to termination. All Active listings at the time of termination may, at Xxxxxx’s sole discretion, be transferred to Associates new Broker with a referral agreement for the commission split state above.
Compensation after Termination of Agreement. After termination of this Agreement, Xxxxxx will pay Associate any amount earned prior to termination less amounts owed to Broker and amounts Broker must pay another licensee to complete pending transactions for which Associate was responsible prior to termination. Errors and Omissions Insurance. Broker maintains Errors & Omission insurance which coverage includes Associate. Associate understands that he/she is responsible for payment of the deductible amount for each claim on their behalf. The current deductable is $5,000.00 and is subject to change without notice to Associates. Should any insurance claim arise as a result of Associate’s actions after the termination of this agreement, Associate understands they are responsible for any deductible and/or expense related to such claim.
Compensation after Termination of Agreement. A. If this Agreement shall be terminated because of Lxxxxx'x disability as determined in accordance with subparagraph A of paragraph 2, or if Lxxxxx shall determine to retire from his position as a consultant, Bancorporation or the Subsidiary shall pay to Lxxxxx, or to his legal representative, fifty percent (50%) of the compensation as would otherwise be payable to Lxxxxx for the remainder of the term of this Agreement in accordance with subparagraph C of paragraph 1, provided that the amount of such payment shall be reduced by an amount equal to any insurance benefits actually paid under any disability policy maintained and paid for by Bancorporation or the Subsidiary and provided, further, that if Lxxxxx shall retire or become disabled following a Control Change, then, in lieu of fifty percent (50%) of the compensation which would otherwise be payable during the remainder of the term hereof, he shall be entitled to eighty-five (85%) of such compensation. If any disability insurance payments actually made to Lxxxxx exceed the amount of compensation provided herein, such excess may be retained by Lxxxxx. Any retirement payments made hereunder shall be paid during the remainder of the term hereof, or until ninety (90) days following Lxxxxx'x death, whichever shall first occur.
