Net Commissions definition

Net Commissions means gross commissions that are actually received by the Company and derived directly from the Employee's total purchase and sale of securities from transactions on accounts that are covered by the Employee for the firm, less any and all expenses related to the fees incurred in connection with the purchase or sale transactions effectuated by Employee, and any associated trading system or other costs including,

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Net Commissions means all commissions and investment advisory fees generated by Infinex with respect to securities and insurance transactions and investment advisory services which occur at or are attributable to the Infinex Centers operated at Subscriber’s locations, including but no limited to 12b-1 and related fees received by Infinex, less all transaction costs payable by Infinex. Potential subscriber expenses that may be deducted from revenue sharing payments include, but are not limited to the following: Recruitment (i.e., advertising, newsletters) Market Information (i.e., S&P Research and Bond guides) Technology Resources, Net Exchange Pro, PIRS Insurance (E&O coverage) Education – Employee study and training materials, continuing education materials Execution Services/Processing fees – Insurance chargebacks, trading errors, ticket charges Product/Marketing Technology Development fee $200* Historical Research (previous years’ tax history, sales history, etc.) Trade Execution Charges

Net Commissions means all commissions and fees received by the Company net of any chargebacks, discounts or reductions imposed by the travel vendor and compensation offsets as set forth in Paragraph 14. Commission rate selection may be changed by Independent Contractor upon fifteen (15) day notice to Company and payment of relevant fees as set forth in Exhibit C. Changes in commission selection will apply to bookings made from the time the selection is made going forward, except in cases where the Independent Contractor has changed the selection to a lower commission rate, in which case the change in commission will be apply to future commission payments regardless of when the booking was made. [Example 1: Independent Contractor notifies Company to change commission selection from 80% to 100% on March 1 and begins paying relevant fees per Exhibit C on March 15. Commission on bookings invoiced in ClientBase subsequent to March 15 will be paid at the 100% commission rate. Commissions on bookings invoiced prior to March 15 but not yet paid will be paid at the 80% commission rate. Example 2: Independent Contractor notifies Company to change commission selection from 100% to 80% on March 1 and fees are reduced per Exhibit C on March 15. Commissions on all bookings paid after March 15 will be paid at the 80% commission rate.] Company shall pay Independent Contractor Commissions upon the follow terms: Commissions will be credited (“Credit Date”) to Independent Contract on the later of (i) receipt of the Net Commissions by the Company (“Receipt Date”), and (ii) completion of the travel by the client (“Travel Date”). Receipt Date for commissions and Independent Contractor’s client fees will be determined by Company for the following travel arrangements upon occurrence of the events noted below:

Examples of Net Commissions in a sentence

• Contractor shall be paid compensation as follows: (a) a monthly fee of $19,250, payable in two equal installments on the 15th and 30th of each month hereunder, and (b) a commission equal to five (5.0%) percent through August 31, 2003 and ten percent (10.0%) thereafter of the Company's Net Commissions and Buybacks excluding commissions earned from the sale of Superior owned inventory.

• For the referral of accounts to the Agency, the Independent Contractor shall be entitled to the following share of commissions received by the Travel Agency: *10 percent (10%) of the Net Commissions shall be paid for the referral of a client whereby the Agency services the entire referral.

• If such an agreement is reached, the Estimated Specified Account Net Commissions and Fees as so agreed shall be final and binding on the Parties.

• If the Additional Payment Objection Notice is not timely received by Purchaser within the Additional Payment Objection Period, Seller shall be deemed to agree in all respects with the applicable Estimated Specified Account Net Commissions and Fees as prepared by Purchaser, and such calculation shall be final and binding on the Parties.

• For purposes of this Agreement, "Net Commissions and Buybacks" shall be defined as the Company's gross commissions plus buyback fees earned from rare coin auctions minus finder's fees paid by the Company.

• The payments contemplated by this Section 2.1(c) shall be payable on or before the date that is fifteen (15) days after the date on which the Final Specified Account Net Commissions and Fees has been determined in accordance with Section 2.4. Such payments shall be made in compliance with Section 2.4 and shall be made by wire transfer of immediately available funds to an account designated by Seller.

• Infinex shall make Revenue Sharing Payments to Subscriber in accordance with Section 7 of the Agreement in an amount equal to 80% of Net Commissions (as hereinafter defined).

• The INSTITUTION will pay the Representative, percent ( %) of Net Commissions (as defined below).

• The application of this deduction to gross commissions payable to Customer results in Net Commissions.

• We will pay your Net Commission on a monthly basis when total Net Commissions equal or exceed $100.00.

More Definitions of Net Commissions

Net Commissions means 1.25% for mutual funds, variable annuities and packaged products and 3.75% for stocks and bonds); less (iii)soft dollars and other similar revenues, net of ticket charge payments, clearing costs and meeting expenses, received by the Subs and allocable to G&C Planners. In addition, in the event that a representative who was an employee of any of the Subs prior to January 1, 1999 or is recruited by any of the Subs subsequent to January 1, 1999 becomes a representative or planner of G&C or an affiliate of G&C other than the Subs, the 1999 Adjusted Pre-tax Profits shall be further adjusted such that the Subs are credited with receiving the same net commissions that would have been received by the Subs for business generated in 1999 by such representative if such representative had remained a representative of the Subs. For purposes of calculating the 1999 Adjusted Pre-tax Profits, commissions paid to G&C Planners shall be deemed to be 95% for mutual funds, variable annuities and packaged products and 85% for stocks and bonds. The purpose of the adjustments to 1999 Adjusted Pre-tax Profits set forth in clauses (ii) of this Section 3.2(a) is to remove from the 1999 Adjusted Pre-tax Profits a reasonable estimate of the profit received by the Subs for business generated by G&C Planners, but to reimburse the Subs for a reasonable estimate of the cost of supervising such G&C Planners. Within 30 days of the end of each calender quarter, Purchaser shall calculate the 1999 Adjusted Pre-tax Profits for such quarter and provide Sellers with a copy of such calculation; provided, however, that such quarterly calculations and the final calculation of the 1999 Adjusted Pre-tax Profits shall be subject to reasonable year-end adjustments.

Net Commissions for purposes of this agreement is defined to include commissions and fees net of all clearing and brokerage charges set forth in "10c" below and any direct cost mutually agreed upon by the Bank and RHI.