Commission Chargeback. For any Annuity reinsured hereunder that is either surrendered or partially withdrawn during the current Accounting Period, the Ceding Company will pay the Reinsurer a Commission Chargeback at the end of the Accounting Period equal to (a) plus (b), where:
Commission Chargeback. In the event that a Contract for which a commission has been paid is returned to Pacific Equities Network or Pacific Mutual pursuant to the Free Look Right in the Contract, or a premium for which commission has been paid is refunded by Pacific Mutual, Pacific Equities Network will require reimbursement from General Agent and/or Selling Broker-Dealer as follows: If the amount to be deducted exceeds compensation otherwise due, Selling Broker- Dealer will promptly reimburse Pacific Equities Network before the next commission cycle or within 10 business days from the date of mailing of a written demand for reimbursement, whichever is later. Pacific Mutual and Pacific Equities Network reserve the right to terminate or amend this Revised Schedule B by providing written notification to the Broker- Dealer in accordance with Section VI.C of the Selling Agreement. This Schedule shall be effective as of: . ------------------------------------ PACIFIC EQUITIES NETWORK -------------------------------------------------- (Selling Broker-Dealer) By: By: --------------------------------- -------------------------------- (Signature) (Signature) Title: Title: ------------------------------ ------------------------------ Date: Date: ------------------------------ ------------------------------ PACIFIC MUTUAL LIFE INSURANCE COMPANY ------------------------------------ (General-Agent) By: By: --------------------------------- -------------------------------- Title: Title: ------------------------------ ------------------------------ Date: Date: ------------------------------ ------------------------------ ------------------------------------ ------------------------------------ (General Agent) (General -Agent) By: By: --------------------------------- --------------------------------
Commission Chargeback. No chargebacks are applicable to partial withdrawals, full surrenders or death claims, except in the event of a free look surrender or if an Alternate Withdrawal Charge Rider is selected. Please see section 3a.
Commission Chargeback. In the event that a policy for which a commission has been paid is lapsed or surrendered by the Policy Owner during the first six months, or is returned to SECURITY LIFE for refund of premium during the Free Look Period as described in the policy, SECURITY LIFE and ING AMERICA EQUITIES shall require reimbursement from SELLING BROKER-DEALER equal to 100% of the commission paid. If a premium payment for which a commission has been paid is refunded by SECURITY LIFE, a reimbursement of the commission paid on the amount refunded will be due from the SELLING BROKER-DEALER. The reimbursement may be deducted by ING AMERICA EQUITIES from the next, or any subsequent, commission payment to SELLING BROKER-DEALER. If the amount to be reimbursed exceeds compensation otherwise due, SELLING BROKER-DEALER shall promptly reimburse ING AMERICA EQUITIES before the next commission cycle.
Commission Chargeback. In the event that a policy for which a commission has been paid is lapsed or surrendered by the Policy Owner during the first six months, or is returned to Southland for refund of premium during the Free Look Period as described in the policy, Southland and ING America Equities shall require reimbursement from Selling Broker-Dealer equal to 100% of the commission paid. If a premium payment for which a commission has been paid is refunded by Xxxxxxxxx, a reimbursement of the commission paid on the amount refunded will be due from the Selling Broker-Dealer. The reimbursement may be deducted by ING America Equities from the next, or any subsequent, commission payment to Selling Broker-Dealer. If the amount to be reimbursed exceeds compensation otherwise due, Selling Broker-Dealer shall promptly reimburse ING America Equities before the next commission cycle.
Commission Chargeback. In the event that a Contract for which a commission has been paid is lapsed or surrendered by the Contract Owner, then the following percentage of commissions paid will be due back from all entities which received commissions: . 0% if the event occurs within 13 (thirteen) months of the Contract issue date; and . 0% thereafter. In the event the Contract Owner exercises the "free look" provision of the Contract or in the event premium is refunded to the Contract Owner by Pacific Life, including for a Contract rescission, then Pacific Life will charge back 100% of all commissions paid. Distributor may deduct reimbursement amounts from compensation otherwise due to Selling Broker/Dealer and/or General Agent. If the amount to be deducted exceeds compensation otherwise due, Selling Broker/Dealer will promptly reimburse Distributor before the next commission cycle or within 10 business days from the date of mailing of a written demand for reimbursement, whichever is later.
Commission Chargeback. In the event that a policy for which a commission has been paid is lapsed or surrendered by the Policy Owner or has a reduction of stated death benefit during the first three policy years, or is returned to ING Security Life for refund of premium during the Free Look Period as described in the policy, ING Security Life and ING America Equities shall require reimbursement from Selling Broker-Dealer as shown below. Policy Year Commission Chargeback 1 10% of first year premium up to target 2 6% of second year premium up to target 3 3% of third year premium up to target 4+ 0% If a premium payment for which a commission has been paid is refunded by ING Security Life, a reimbursement of the commission paid on the amount refunded will be due from the Selling Broker-Dealer. The reimbursement may be deducted by ING America Equities from the next, or any subsequent, commission payment to Selling Broker-Dealer. If the amount to be reimbursed exceeds compensation otherwise due, Selling Broker-Dealer shall promptly reimburse ING America Equities before the next commission cycle.
Commission Chargeback. In the event that a Contract for which a commission has been paid is rescinded or voided (including by reason of a death prior to Contract issue), or returned to Pacific Life as a result of a Contract owner exercising the “free look” provision of the Contract, or a premium for which commission has been paid is refunded by Pacific Life, then Pacific Life will charge back 100% of the commission paid. In the event that a Contract for which a commission has been paid is surrendered or exchanged, a chargeback will occur, calculated from the Contract issue date for the initial premium and from the date of receipt for subsequent premiums, as follows: • 100% chargeback in months 1 through 12, 0% thereafter • 100% chargeback in the months 1 through 12 if Nursing Home provision is utilized If the Contract owner or annuitant dies of natural causes within the first three months of the Contract Issue date for ages 76-85, then Pacific Life will charge back 100% of all Commissions and Expense Allowance paid. Upon determination by Pacific Life that the death of the Contract owner or annuitant is not due to natural causes, no charge back will be applied. Pacific Life may deduct commission chargebacks from any compensation otherwise due to Broker/Dealer and/or General Agent by Pacific Life. If the amount to be deducted exceeds compensation otherwise due, Selling Entities will promptly reimburse Pacific Life before the next commission cycle or within 10 business days from the date of mailing of a written demand for reimbursement, whichever is later. Broker/Dealer and General Agent are jointly and severally liable for such chargebacks. Effective Date of this Schedule B: March 16, 2021 NOTE: If Broker/Dealer is electing Commission or Default Options, check appropriate boxes above, execute and return to Pacific Life; otherwise, no signature is required. (Broker/Dealer) By: (Signature) Name/Title:
Commission Chargeback. In the event that a Contract for which a commission --------------------- has been paid is surrendered by the Contract Owner or is returned to SECURITY LIFE during the Free Look Period as described in the Contract, SECURITY LIFE and ING AMERICA EQUITIES will require reimbursement from SELLING BROKER-DEALER as follows: . 100% of commissions paid if the event occurs during the first six months of the Contract.
Commission Chargeback. In the event that a policy for which a commission --------------------- has been paid is lapsed or surrendered by the Policy Owner during the first six months, or is returned to SECURITY LIFE for refund of premium during the Free Look Period as described in the policy, SECURITY LIFE and ING AMERICA EQUITIES shall require reimbursement from SELLING BROKER-DEALER equal to 100% of the commission paid. If a premium payment for which a commission has been paid is refunded by SECURITY LIFE, a reimbursement of the commission paid on the amount refunded will be due from the SELLING BROKER-DEALER. Schedule B Form No. 1191 (VUL) & 1197 (VUL) 05/1/95 The reimbursement may be deducted by ING AMERICA EQUITIES from the next, or any subsequent, commission payment to SELLING BROKER-DEALER. If the amount to be reimbursed exceeds compensation otherwise due, SELLING BROKER-DEALER shall promptly reimburse ING AMERICA EQUITIES before the next commission cycle.
