Production Bonus. The Production Bonus applies to all individual variable annuities (currently PrimElite, PrimElite II and PEP) sold through Distributor. The Bonus equals the Production Bonus rate times the excess of A over B, where: A = Year-to-date aggregate premiums received for the current calendar year for individual variable annuity products B = Floor Amount (as defined below) As of the effective date of this Agreement, the Floor Amount is $1,005,802,370.05. If in any calendar year the aggregate premium received for the individual variable annuity Products is greater than the previously established Floor Amount, a new current Floor Amount is established. This new current Floor Amount is equal to the aggregate amount of premium received for individual variable annuity Products during that calendar year. The Floor Amount cannot decrease in any year The Production Bonus rate is [**]%, which is calculated and paid monthly.
Appears in 2 contracts
Sources: Selling Agreement (Primerica, Inc.), Selling Agreement (Primerica, Inc.)