Trail Compensation definition

Trail Compensation. We will pay Trail Compensation commencing at the end of the first quarter of Policy Year Six (6) and every quarter thereafter as long as the Policy remains in effect and this Agreement is in effect and active. The percentage of Trail Compensation we will pay is shown in the following table and is based on the Net Policy Value (NPV) of a Policy. ============== =============================== ============================================================= YEAR TOTAL % NPV ANNUAL TRAIL BREAKDOWN OF NPV ANNUAL TRAIL COMPENSATION COMPENSATION -------------- ------------------------------- ------------------------------------------------------------- -------------- ------------------------------- ------------------------------------------------------------- 6+ 0.075%* o 0.050%* vested to original selling agent o 0.025%* non-vested to servicing agent -------------- ------------------------------- ------------------------------------------------------------- ------------------------------------------------------------------------------------------------------------ * One fourth of the annual Trail Compensation is multiplied by the total NPV on the last day of the policy quarter starting at the end of the 1st quarter in a Policy's sixth policy year. ================================================================================ Compensation for Renewals We will pay a renewal fee of 5.0% on all premiums we receive up to target premium and 1.5% of premiums we receive in excess of target premium during Policy Years two (2) through five (5). We will pay a renewal fee of 1.5% on all premiums we receive up to target premium and 0% on premiums we receive in excess of target premium during Policy Years six (6) through ten (10). Renewal commissions are paid as long as the Policy remains in effect and this Agreement is in effect and active.
View Source

Examples of Trail Compensation in a sentence

  • Where the Trail Compensation Options can be elected, the amount of the Upfront Compensation shall be reduced by the Waived CDSC Amount.

  • The Trail Compensation Options (#1, 2, 3 and 4) may only be elected when the Total Payout Rate ("Upfront Compensation") is equal to or greater than the Waived CDSC Amount.

  • The Trail Compensation Options #1 may only be elected when the Total Payout Rate ("Upfront Compensation") is equal to or greater than the Waived CDSC Amount.

  • Trail Compensation will be paid on a calendar quarterly basis to equal the annual percentage shown above.

  • At the end of each calendar quarter, Company shall calculate and pay the Supplemental Trail Commission as follows: Supplemental Trail Compensation = Eligible Value x Annual Rate 4 Where: Annual Rate of the Supplemental Trail Commission for Option B = 25 basis points as shown in Addendum A hereto.

  • At the end of each calendar quarter, Company shall calculate and pay the Supplemental Trail Commission as follows: Supplemental Trail Compensation = Eligible Value x Annual Rate Where: Annual Rate of the Supplemental Trail Commission for Option B = 25 basis points as shown in Addendum A hereto.

Related to Trail Compensation

  • Gross compensation means every form of remuneration payable for a given period to an individual for services provided including salaries, commissions, vacation pay, severance pay, bonuses, and any board, rent, housing, lodging, payments in kind, and any similar benefit received from the individual's employer.

  • Termination Compensation means a monthly cash amount equal to one-twelfth (1/12th) of the highest amount of the annual cash compensation (including cash bonuses and other cash-based compensation, including for these purposes amounts earned or payable whether or not deferred) received by Executive during any one of the three (3) calendar years immediately preceding the calendar year in which Executive’s Termination Date occurs; provided, that if the cash compensation received by Executive during the Termination Year exceeds the highest amount of the annual cash compensation received by Executive during any one of the immediately preceding three (3) consecutive calendar years, the cash compensation received by Executive during the Termination Year shall be deemed to be Executive’s highest amount of annual cash compensation. In no event shall Executive’s Termination Compensation include equity-based compensation (e.g., income realized as a result of Executive’s exercise of non-qualified stock options or other stock based benefits).

  • Annual Compensation means the wages paid to the member during covered employment within the meaning of Section 3401(a) of the Internal Revenue Code, but determined without regard to any rules that limit the remuneration included in wages based upon the nature or location of employment or services performed during the plan year plus amounts excluded under Section 414(h)(2) of the Internal Revenue Code and less reimbursements or other expense allowances, cash, or noncash fringe benefits or both, deferred compensation, and welfare benefits. Annual compensation for determining benefits during any determination period may not exceed the maximum compensation allowed as adjusted for cost of living in accordance with §5-10D-7 of this code and Section 401(a)(17) of the Internal Revenue Code.

  • Special compensation means payment to an adult foster care facility to ensure the provision of a specialized program in addition to the basic payment for adult foster care. Special compensation does not include payment received directly from the Medicaid program for personal care services for a resident, or payment received under the supplemental security income program.

  • Compensation Period has the meaning specified in Section 2.12(c)(ii).