Sign up Login

Partnership agreement - attachment bonus

Updated: 2023 11/23

Innhold

1. General

2. Bonus Rates

3. Calculation of Bonus

4. Accrual and Payment of Bonus

All capitalized words and expressions in this attachment ("Attachment") shall have the same meaning as in the Loopfront Partner Agreement ("Agreement"). The Attachment is an integral part of the Agreement.

The Parties have agreed that the Company shall receive remuneration for its promotion of Loopfront in accordance with Agreement section 4.4, following these provisions:

1. General
The Company is entitled to a bonus from the sale of subscriptions and project access to the Platform to new customers of Loopfront. The Company is only entitled to a bonus from SaaS Agreements concluded with the Company's involvement.

2. Bonus Rates
The following bonus rates shall apply:

(i) For the sale of a subscription: 20% of the 12-month subscription fee, or as separately agreed between the Parties in the order form.

(ii) For the sale of project access: 10% of the price for project access, or as separately agreed between the Parties in the order form.

3. Calculation of Bonus
Bonus is calculated based on the net invoice amount to the customer excluding VAT and after deductions for discounts and other expenses.

For the sale of subscriptions to the Platform, the Company is entitled to a bonus only for the first 12 months of the subscription period. If the customer terminates the subscription before 12 months have passed, the Company is entitled to a proportionate share of the bonus as determined in section 2 (i).

4. Accrual and Payment of Bonus
Bonus accrues when the customer has paid the invoice issued by Loopfront. However, the Company loses its claim to the bonus if the SaaS Agreement between Loopfront and the customer is not fulfilled or terminated, and is unrelated to Loopfront or any circumstances within Loopfront's control.

Once a year, by the end of the first quarter, Loopfront shall provide the Company with a statement of the bonus earned in the previous year, deducting any forfeited bonus ("Bonus Statement").

Loopfront may freely choose whether the bonus is paid in the form of:

(i) A price reduction on Loopfront's services to the Company under the SaaS Agreement between the Company and Loopfront; or
(ii) A cash payment to the Company.

Bonus shall be paid within 30 days after the Bonus Statement has been provided to the Company.