insurance broker fee agreement template

Client agrees to cooperate with Business Broker in providing any information requested and shall not prevent Business Broker’s full participation and attendance at any closing or sale of Client’s business. Broker shall be entitled to receive a commission on such premium at the commission rate set forth in the Company’s quotation that is the subject of the insured’s order to bind. The duties of Business Broker shall not include legal or accounting services which shall be procured by the Client at Client’s own expense. �C�� 0000027348 00000 n Want to talk to a lawyer about this legal document? Success Fees (as defined in Paragraph 5 of this Agreement) shall be paid to Business Broker only if a Transaction is consummated. Consideration is the value the Client and Client Related Parties receive as a result of a Transaction and includes, but is not limited to cash, cash equivalents, securities, notes, liabilities assumed by purchasers or investors, assets to be retained by Client (including, but not limited to, cash, accounts receivable, inventory and equipment), earn-outs, royalties, real property sold or leased, equipment and/or intellectual properties sold or leased, employment agreements and consulting agreements in excess of fair market rates, non-competition agreements, and stock or other securities that are received in exchange for Client’s stock or assets (collectively, “Consideration”). Such Success Fee shall be based on the following schedule: __________ Percent (__%) of Consideration. 34 0 obj <> endobj [Remainder of page intentionally left blank]. H��W�n�@��^�%R!��)ؑ ��0&خ�B2#<>�{�s��~G�}=�NWi��a"�X܊$18�R@��t9��b��\��8&�G��wx;0`"!8�sA��g�uU�RU��o5�g�b̅�b��t_)�T��B�Σ��q�G5}��ch9!I+U��2�+��@��u��2�"�T�f�0��3,�[L��EˋU��P��^>(9�Q{��)?��h��0�5/�� ß鷣�>N[��.��i�쓱�+�p�;�v`��s5]忕_?��>��;:-��d2�6�*(ն��W��R �*kGl4�I1��Wn1ı��%��XD�>��Ak߱�.��Q��u5��e�п�3��iFa$ Yh2�S�g^� L��B�_B�ȁ��2+B�a��O��ޝZ�:(�"�RE#`��l This letter is the Business Broker Engagement Agreement (“Agreement”) by and between the above-named business broker (“Business Broker”) and the above-named client (“Client”) and confirms the complete understanding of the parties with respect to retaining and engaging Business Broker to represent and assist Client in connection with the sale of Client’s business entity (a “Transaction”). A lawyer can help negotiate an indemnification clause that allocates risk in a way that meets the needs of the parties. Business Broker Engagement Agreement - Form Template, ___________________________________________, totaling ____________ dollars ($__________.). The company who provides the goods or services should also be identified in the agreement. Client understands and agrees that the amount of Success Fee shall not vary according to whether the Client enters into an asset sale or stock sale in that Business Broker’s compensation is paid in the amount and at time as defined herein. ��y&U��|ibG�x��V�&��ݫJ��ʬD�p=C�U9�ǥb�evy�G� �m& A lawyer can advise regarding an appropriate time period based on the circumstances, including how any state or local laws and regulations apply. This is the entire agreement between the parties pertaining to its subject matter and supersedes all prior agreements, representations and understandings between the parties. Client understands and agrees that Business Broker’s compensation is determined by this Agreement prior to any decision regarding whether or how to effectuate the sale of Client’s business and that Business Broker’s compensation is computed in advance under the provision defining Success Fee. 0000001712 00000 n This fee is not set by law, and may be negotiable between you and the broker. Client hereby agrees that venue and jurisdiction of any legal action regarding this Agreement shall be solely in the State of __________. The invalidity or unenforceability of any provision of this Agreement shall not affect the validity or enforceability of any other provision of this Agreement, which shall remain in full force and effect in accordance with the terms hereof. non-compete agreements, earn outs, notes). 6. 17. 0000003847 00000 n H��W�n�0��+t��[bQ(�Kz��EI�M�*lI��\��Xl�^�;��#Q��E�OW�cq�!D��~\��H�� Organization Name: ___________________________________________ (“Business Broker”). Clients often request 1 year or less and business brokers often request 3 years. After the initial Term, if a Transaction is consummated with a new investor unknown during the initial Term, Business Broker will only be eligible for Success Fees at the sole discretion of Client. Ȓ�z�n�7Hc�8�+g��׽�� Z.�|ēn8�e�ä��D#�'7��i��RμzB�Y:��4uQ:�yÆr1o�gZ�IA�@��F^�ie��v��dlq�/`#kX*T��4Cv��d`�0�yp�r_q�X��m�� Bf�LDB�&d�3�A��!��n��{��N��]ݕ�n� _y&[7�]`�U��Wg��Il}9��+2^�c_~��8f�C�m��z=a�:s�8�aH��!q�j�'��U�h��V�*G�-��L��0�2"�s�N-��>��@��2Dƣ%�P�v2L�^��,[�tP��.��QIx�⤮@��v��#`�,�D��m~c�6*��=+p��Η�2L��ޗ0�&l��S��)�U� �kZ��m;��`?��#l�`48�ܕ�7@u��wt�� E You can contact our lawyers and download a copy of this document. Additionally, an exemption to the condition of receiving a broker fee should be incorporated. The actual services the Business Broker undertakes to perform are set forth in the Business Broker Engagement Agreement, which are the only services the Business Broker is obligated to provide. Indemnification clauses are often heavily negotiated because of the risks involved to the parties. By signing this Agreement, the signing parties represent that they have unconditional authority to enter this Agreement on behalf of the Client. II Your insurance broker represents you, the consumer, and is entitled to charge a broker fee if he/she chooses. 28 0 obj <> endobj

Second Hand Steam Ironing Table, Oriental Beauty Meaning, Borage Plants For Sale, Data Collection Sheet Template, Western Tanager Montana, French Toast With Bacon And Eggs, Glutinous Rice Flour Recipe Dessert, Lamb Shank Recipe With Cranberry Sauce,