(g) Indemnification: Associate will indemnify and hold Broker, its officers, directors, and employees harmless from all claims, demands, suits, costs, and expenses, including reasonable attorney's fees at all levels, of whatever nature and description to the extent based on Associate's representations, acts, omissions, negligence, willful misconduct, or violation of laws, rules, regulations, codes of ethics, this Agreement, or office policy manual.
3. Broker Responsibilities:
(a) Access to Listings: Broker will provide Associate with access to all current listings of Broker and listings made available to Broker through offers of cooperation, except those listings that Broker, in her/his/its discretion places exclusively in the possession of another associate.
(b) Access to Facilities: Associate may use Broker's then existing office facilities for the performance of Associate's duties as described above.
(c) Compensation: Broker will negotiate all terms and conditions of fees charged clients, including but not limited to the amount and payment date. Broker will compensate Associate in proportion to Associate's output with regard to
real estate-related activities and not to hours worked by Associate. Such compensation will be solely through commissions as described below or in Broker's office policy manual, if any. In the event of conflict between Broker's
office policy manual and this Agreement, the terms of the office policy manual will prevail. Broker may deduct from Associate's compensation any amounts due from Associate to Broker.
(1) Amount; Payment: When Associate performs any brokerage service for Broker and Broker earns and collects a fee for such service, Broker will pay Associate within 7 days after the funds are collected and have cleared:
70 % of the fee as commission for Transactions that are from the Agent's lead
40 % of the fee as commission for Transactions that are from the Brokerage's lead
80 % of the fee as commission for Rentals
(2) Dividing Compensation with Other Licensees: If two or more associates participate in rendering a brokerage service to the public, or claim to have done so, Broker will determine, in Broker's sole and absolute discretion, the amount of the fee due Associate.
(3) Incentives: If a seller or listing office offers a premium, bonus, or other incentive, if such premium, incentive, or bonus is in the form of money, then the Agent will keep the stated bonus.If such incentive is other than money (i.e., a cruise, trip, or other matter having economic value but not delivered in money), then such premium, bonus, or incentive will go to Associate. If a nonmonetary
incentive goes to Associate, Broker will report the fair market value of the incentive as income to Associate, as Broker must collect and deliver the incentive to Associate to preserve the respective legal positions of the parties.
(4) Benefits: Associate will be provided no minimum salary, vacation pay, sick leave, or any other fringe benefit.
(5) Collection of Fees: Broker will not be required to prosecute or sue any party in order to collect any fee for services performed by Associate. However, if Broker incurs attorney's fees and costs in the collection of or attempt to collect a fee, such amounts will be deducted from Associate's commission in the same proportion as provided for herein in the division of the fee.
(6) Compensation after Termination of Agreement: After termination of this Agreement, Broker will pay Associate any amount earned before termination less amounts owed to Broker and amounts Broker must pay another licensee to complete pending transactions for which Associate was responsible before termination.
4. Errors and Omissions Insurance: Broker maintains Errors and Omissions insurance which coverage
includes Associate. Associate will pay a portion of Errors and Omissions coverage as follows: $50 per
5. Term; Termination: This Agreement will be in effect for 1 year(s) from the effective date. Either party may terminate this Agreement by 14 days advance written notice to the other party. Broker may terminate this Agreement without
notice for wrongful conduct by Associate. Failure by either party to maintain active licensure status pursuant to Chapter 475, Florida Statutes, will be deemed automatic termination. Associate will not, after termination of this Agreement,
use to her/his own advantage, or to the advantage of any other person or entity, any information gained from the business of the Broker relating to property for sale, lease, or rental, or Broker's customers or clients. Upon termination
of this Agreement, Associate will return all Broker's property to Broker with no copies made or retained by Associate.
6. Confidentiality: Associate acknowledges that Broker may disclose confidential information to Associate during the course of this Agreement. Any such information that is or should be reasonably understood to be confidential or
proprietary to Broker, including mailing lists, customer and client lists, sales, costs, unpublished financial information, product and business plans, projections, marketing data, computer data, computer programs and supporting
documentation, and Broker's office policy manual, if any, are considered confidential property of Broker. Associate will take reasonable steps and use due care during the term of this Agreement and after its termination to prevent the
duplication or disclosure of confidential information, other than by or to Broker's employees or agents who must have access to the information to perform their duties for Broker.
7. Dispute Resolution: This Agreement will be construed under Florida law. All disputes between Associate and another associate in Brokers firm will be resolved by Broker. All disputes between Broker and Associate will be mediated under
the rules of the American Arbitration Association or other mediator agreed upon by the parties. The parties will equally divide the mediation fee, if any. In any litigation between Broker and Associate, the prevailing party will be entitled to
recover reasonable attorneys fees and costs at all levels, unless the following box is checked: