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This IBO agreement is entered between Member Benefits Central, LLC ("Company") and Independent Business Organization also know and IBO
In consideration of the promises and agreements contained herein, the parties agree as follows:
IN WITNESS WHEREOF, the parties have caused this Agreement to be executed as of today’s date.
This document describes the agreement between Member Benefits Central, LLC (also known as MBC) and the agent / Independent Business Organization (IBO), regarding terms related to services and compensation. The Company and IBO enter into this agreement whereby the IBO provides services to the Company in return for compensation specified in this agreement.
The IBO agrees to perform the following services set forth by MBC in order to be compensated by commissions given.
Lead Generation - IBO will provide qualified leads to MBC
This agreement covers the period starting from today’s date and ends one year from today’s date.
All commissions will be calculated and paid once every month, for the preceding month following the receipt of commission by MBC from the service providers. Commissions will be calculated and paid out as part of the next payroll cycle, following the month for which commissions are calculated. Although majority of our vender partners pay monthly, some partners such as Office Depot will pay quarterly. You will also expect to receive such quarterly commissions as we receive payments from companies such as Office Depot.
IBO nonrefundable administration yearly fee is: $199.
IBO program inludes:
IBO receives 15% on direct sales
IBO receives and additional 2.5% on tier 1 IBOs signed directly under IBO
Closed Business Leads – IBO shall receive 15% from MBC’s net revenue on closed deals that are generating revenue and are provided directly by an MBC registered IBO for the life of that account.
Tier 1 referral IBOs – IBO will also receive 5% on closed Business Leads from MBC’s revenue
On voluntary or involuntary termination of the IBO’s contract with the company, commissions will be paid on transactions dated prior to the termination date only. Any amounts owed to the IBO will be according to employment regulations.
IN WITNESS WHEREOF, the parties have caused this Agreement to be executed as of today’s date.