Termination / exit: If you are acting for the service provider, you may want to go beyond permitting termination for a material
breach of the agreement (which is so broad) and
actually define the types of
breaches that trigger a termination right for either
party, to ensure some stability and transparency.
The major problem which lurks below the surface is that there is a value judgment to be made about what would
actually be contemplated, and what special factors should have been first communicated to the
party eventually in
breach.
ReferralExchange.com shall, within a reasonable period of time following receipt of the applicable Commission, promptly pay to Referring Agent an amount equal to a maximum of twenty - five percent (25 %) of the gross referred side commission calculated on a minimum of two percent (2 %) gross sale price prior to any allocation of a payment to another
party (including but not limited to any split between Agent and Agent's broker and any referral fee payments to other third
parties), or up to a maximum of seventy - one and four - tenths of one percent (71.4 %) of the amount
actually received and recognized by ReferralExchange.com, after each of the following have occurred: (a) the Customer referred by Referring Agent becomes part of ReferralExchange.com's referral network, (b) such Qualified Customer completes a Qualified Transaction, and (c) such Qualified Transaction results in a Commission paid to ReferralExchange.com; provided, however, that ReferralExchange.com shall not be required to make any payment to Referring Agent if Referring Agent is in
breach of these Agent Terms at the time of such payment, or if such payment is prohibited by law, including but not limited to instances in which Referring Agent is not an actively licensed real estate sales agent or broker at the time payment is to be made.