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DocuSign Envelope ID: 17405374-3F52-4EE3-A40B-COBD1EOB0058 <br /> twenty-five percent (25%) deemed earned. The FEE shall be deemed <br /> fully earned if termination occurs after three hundred one (301) days of <br /> the PROGRAM year. In the event of a mid-term termination of this <br /> AGREEMENT by either PARTY,all excess COMPENSATION will be <br /> paid to CLIENT within sixty(60) days of the date of termination. <br /> 3.❑Payment. The annual FEE for each applicable policy year shall be paid <br /> in quarterly installments, with $11,250 (25%) due on January 1st, April <br /> 1st, July 1st, and October Pt for each year during the term. <br /> 4.11Fee Reduction. When marketing and placing insurance under this <br /> AGREEMENT, ALLIANT will request all carriers to quote premiums <br /> net of commissions. The PARTIES acknowledge that when premiums <br /> are not rendered net of commissions,the premium total includes broker <br /> commissions, all of which is paid by CLIENT. In such case, the carrier <br /> will pass the commission portion of the premium to ALLIANT as <br /> compensation for its broker services. If any of CLIENT'S premiums <br /> include commissions and, as a result, ALLIANT receives <br /> COMMISSIONS in addition to the FEE, ALLIANT shall reduce the <br /> FEE for the relevant period by the amount of COMMISSIONS it <br /> received that period so as to avoid overpayment by CLIENT <br /> ("REDUCED FEE"). Notwithstanding the above, the FEE shall not be <br /> reduced to an amount below zero. If CLIENT paid part or all of the FEE <br /> before ALLIANT received the COMMISSIONS,ALLIANT will return <br /> to CLIENT any amounts it paid over the REDUCED FEE. If <br /> COMMISSIONS exceed the FEE,ALLIANT will not return or give the <br /> excess amount to CLIENT. <br /> B.❑ Commissions. COMMISSIONS shall be collected as agreed by both <br /> PARTIES in writing. <br /> C.❑ Revenue from Pool or JPA membership. Revenue Alliant may receive <br /> for placing reinsurance or excess insurance for a pool or a joint power <br /> authority shall not be considered compensation paid by the CLIENT when <br /> the CLIENT participates in a pool or joint power authority placement. <br /> D.❑ Disclosures. <br /> 1.❑Exclusions. COMMISSIONS for Notary and Fidelity Bonds are not <br /> included in the annual FEE or COMPENSATION. <br /> 2.❑Transparency and Disclosure.During the time of this AGREEMENT, <br /> ALLIANT will, upon request, disclose COMMISSIONS received by <br /> ALLIANT, where possible, in connection with any insurance <br /> placements on behalf of CLIENT under ALLIANT'S "Transparency <br /> and Disclosure"policy, a copy of which is made available upon request. <br /> Alliant Broker Services Agreement(Public Entity) 4 <br />