LOCKS/COMMITMENTS Clause Samples

LOCKS/COMMITMENTS. AFN will have final approval over the selection of the lender, commitment to deliver, interest rate/price lock, and any written correspondence to the lender for each loan. Date of Hire: / / • $ per month for the first ninety (90) days • Basis Points on Conventional Loans: • Basis Points in FHA Loans: • Basis Points when the AE funds at least $ in a month: • Basis Points when the AE funds at least $ in a month: • If the EMPLOYEE’s employment ends either voluntarily or involuntarily, any commission payment not yet paid will be paid out as soon as AFN can calculate the commission. In the event of a commission calculation change, the overpayment will be processed on the following commission payout. underpayment or • AFN shall reimburse expenses to EMPLOYEE up to $ per month subject to the expense reporting guidelines. 1. The Plan Objectives. This document defines the Incentive Compensation Plan (“Plan") of American Financial Network, Inc. Wholesale (“AFN”) for the positions of Account Executive, Inside Account Executive, and Producing Regional Manager (“EMPLOYEE”). AFN intends to reward performance with this compensation plan, to provide a fully competitive level of compensation, and provide an incentive for EMPLOYEE to remain employed with AFN.