Index of Terms

1) Commitment Fee ~ Amount paid to become a Limited Partner, Partner or Associate. Then with favorable results a Limited Partner may be offered a Partner position. Likewise a Jr. Associate may move to an Associate or ultimately to a Sr. Associate or even Partner position if it is offered. Commitment Fees non-refundable. The purpose of this fee is to help insure that a long term working relationship is established as quickly as possible.

2) Commitment Level ~ A value determined by compiling several factors such as: Percentage of Buy-In paid to date, Approved Completed Work, Level of assistance to meet objectives, Management and Team assessments along with numerous other factors.

3) Hard Dollars vs. Vested Interest (Soft Dollars) ~ Hard dollars are what is paid during a pay cycle whereas Vested Dollars are paid by a business upon the Board or Committee determining that enough liquidity is available to pay off Vested Interest holders. This is very much the same way one would handle cash flow for a business that one personally owns. (Fully covered during interviews)

4) Green Light ~ When an individual is tentatively pre-approved to join the Partner or Associate Program.

5) Booked Fees ~ Are final fees once all parties are fully and properly contracted. Any initial fee, deposit, additional agreement, or work must be completed or paid before fees become fully Booked Fees.

6) Collected Funds ~ Are funds received, collected and accepted according to all applicable agreements. This includes Placement Fees, Limited Partner, Partner and Commitment Fees.

7) Commissions ~ Monies that are paid for a either sale or personnel referral that is hired.

8) Draw Against Commissions ~ Is a weekly, bi-monthly or monthly advance against future commissions.

9) Primary Sponsor ~ Is the first individual paid since they initiated the new member or referral to a job opening.

10) Support Sponsor ~ Refers to the individual that was originally signed up or brought in by the Primary Sponsor.

11) Chargebacks ~ Are when commissions are charged back due to bad business or sometimes fraud. (Rarely occurs)

12) Review Committee ~ Committee that has the final determination on all matters that are subject to review.

 

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