* Independent Contractor Agreement
Premier Brokers International – I.C.A. 1. Independent Contractor Status – Contractor agrees to work for Broker as an Independent Contractor, and not as an employee, however, Contractor understands that Broker is legally accountable for the activities of the Contractor. All costs and obligations incurred by Contractor in conducting his/her independent business shall be paid solely by Contractor, who will hold Broker harmless from any and all costs and obligations. Contractor will act independently as to the management of his/her time and efforts, and will be responsible for timely payment of all of their own expenses, such as industry association dues, licensing renewals, pagers, cellular telephones, etc., as they are incurred. Contractor understands and agrees that, because Contractor is an Independent Contractor and not an employee of Broker. Broker will not withhold any Federal or State Income Tax, Social Security (FICA) or Unemployment (FUTA) taxes from Contractor’s commissions paid. Contractor is personally responsible for paying any and all Federal and State Income. Social Security and other taxes, and for maintaining all expense records as required by law, and represents to Broker that all such amounts will be withheld and paid when due. Contractor shall indemnify and hold Broker harmless from any liability or costs thereof. Contractor further understands and acknowledges that Broker provides no Workman’s Compensation coverage. Contractor hereby specifically waives such coverage and represents to Broker that he/she understands that, if Contractor desires such coverage, Contractor must personally obtain such coverage directly from the State of Florida or an insurance carrier of Contractor’s choice, at Contractor’s sole expense. 2. License & Realtor Status – Contractor is and shall remain licensed and in good standing with the Florida Department of Professional and Business Regulation, throughout the term hereof. If not currently a Realtor®, Contractor will, within 10 days of the date of this contract, become a member of an approved Association of REALTORS® and will adhere to the REALTOR® Code of Ethics and the Multiple Listing Service Rules and By-Laws. Contractor will always conduct him/herself in full compliance with the Statutes of Florida and the Rules and Regulations of the Florida Real Estate Commission and in a way, which reflects the high standards of the Broker. Commissions and Fees – As commissions are earned through the efforts of Contractor of any and all such commissions will be promptly paid to Contractor by Broker, less any amount owed to Broker at closing, with receipt and processing of all required paperwork by Agent. Agent is expected to complete all aspects of the transaction without assistance of the Broker. Should the Broker be engaged by the Agent to assist the Agent in any transaction, Broker shall be entitled to an additional commission. Any Agent found to lack fundamental experience/skills will be subject to additional fees should Broker(s) get involved at any level during a Transaction. The minimum charge will be double the Transaction fee and may go up to 50% of commission based on the level of assistance by Broker required by the Agent. An Agent may be relieved of their transactions for cause, may forfeit their commission to the brokerage and may be immediately terminated. 3. Payment of any and all commissions are subject to Broker receiving complete sales file. Final walk through form and Closing Statements are due within 48 hours of closing and are not required to be paid at closing. Any commission not paid at closing will be made within 48 hours after complete file submission, successful closing by agent and clearance of funds. (All fees due the Broker must be included on the transaction’s ALTA or HUD-1 statement and paid through the close of escrow unless waived in writing by the Broker.) 4. Transaction Defined – For purposes of this Agreement, the term “transaction” shall be defined as the closing and disbursement of funds following the sale of real estate, or the execution by all parties of a lease, where a commission is paid to Broker as a result of the efforts of Contractor/Agent. Contractor/Agent with both sides of a transaction will pay a transaction fee for each side in accordance with the program choice outlined below. Contractor agrees that Broker has the right to hold and/or apply any commissions owed to Contractor, as may be necessary to pay for or secure any obligations of Contractor here-under. In consideration of the foregoing, Contractor will pay Broker as follows: • $299 Transaction fee on all residential sales per side. • All rentals are 10% to Broker with a minimum of $50. • All “In House” BUYER referrals by Broker will be split 75% Commission to Contractor/Agent and 25% to Broker or as otherwise agreed to in writing upon acceptance of referral by Agent • All “In House” SELLER/LISTING referrals by Broker will be split 50% Commission to Contractor/Agent and 50% to Broker or as otherwise agreed to in writing upon acceptance of referral by Agent • All “Out-bound” referrals by Agent will be split 90% Commission to Contractor/Agent and 10% to Broker. AGENTS PORTION OF THE COMPANY’S ERRORS & OMISSIONS INSURANCE POLICY PREMIUM SHALL BE PAID BY BROKER ON ALL SALES UP TO $2.5 MILLION. CONTRACTOR/AGENT SHALL PAY AN ADDITIONAL FEE OF $500 FOR EACH SALE ABOVE $2.5 MILLION. COMMERCIAL Sales Commissions: Contractor/Agent may engage in Commercial Transactions ONLY if they have the experience necessary to complete the transaction. Contractor/Agent will pay Broker 10% of the total commission earned by Agent at closing plus any other incurred expenses by Broker including, but not limited to, Attorney fees. 5. Occupational License Fee – If required for Real Estate Broker to obtain an Occupational License for the office, Agents may be required to obtain occupational License for themselves as well. Agents will submit all necessary documents and pay all required fees for their Occupational License to the Municipality on a timely basis. 6. Obligation – Contractor acknowledges that MLS, Local Board and State fees are a legal obligation and agrees to make timely payments as agreed to. 7. Errors & Omissions Insurance – The Errors and Omissions Insurance carrier shall be chosen at Broker’s discretion. Contractor understands that he/she is responsible for payment of the deductible amount (currently $2,500) upon request, for each Errors and Omissions claim. Contractor shall immediately notify Broker of any circumstances likely to give rise to any kind of claim or complaint against Contractor and/or Broker. In the event of a claim, lawsuit, license complaint or Arbitration demand which is not wholly covered by insurance, Broker may withhold from above mentioned Contractor’s commissions payable, an amount adequate to satisfy any amounts not covered, which Broker shall place in its Claims and Disputes Retention Account, pending settlement or other disposition of the matter. Broker may, in Broker’s sole discretion, apply such sums as necessary to settle or to satisfy any such claim or award, and Contractor agrees to cooperate fully in this regard. Contractor understands that, from time to time, the Principals of Broker may deem it necessary to obtain legal consultation concerning one of Contractors transactions, Contractor agrees to reimburse and indemnity Broker for any Attorney’s fee reasonably incurred by Broker to obtain legal advice concerning such transactions(s). 8. Hold Harmless – As a material provision of this agreement, Contractor agrees that, for all actions that Contractor does during his/her contractual relationship with Broker, Contractor will forever indemnify and hold harmless Broker, their heirs, successors, spouses and assigns, from any and all claims, complaints, causes of action, Realtor® arbitration demands, damages and liabilities of every kind whatsoever, whether known or unknown, including without limitation of any action, omission, negligence or any other basis of liability or complaint, in any forum, brought by any third party against PREMIER BROKERS INTERNATIONAL, INC.. No action or complaint arising out of a real estate transaction in which Broker was involved may be brought by Contractor before anybody, against any third party, without prior written consent of the Broker. If the Broker initiates any litigation or arbitration action on behalf of the Contractor or if the Broker must defend any action of the Contractor in litigation or arbitration, Contractor will pay all related fees, including but not limited to, filing fees, court costs and legal fees. 9. Responsibility – Broker will not be liable to Associate for any expenses incurred by Associate nor for any of Associate’s acts. Associate will have no authority to bind Broker by any promise or representation, oral or otherwise, unless specifically authorized in writing in a particular transaction. Suits, whether for fees or otherwise, against clients, customers and others in the real estate business will be maintained only in Broker’s name. Associate is responsible for providing all tools necessary to perform the duties outlined. Associate will also be responsible for providing Associate’s own automobile and is responsible for transportation expenses including insurance in the minimum coverage amount of; $100,000/$300,000 for personal injury protection liability and insurance in the minimum coverage amount of $100,000/$300,000 for bodily injury liability and insurance in the minimum coverage amount of $50,000 for Property Damage liability and other expenses incidental to performing Associate’s duties without receiving any reimbursement from Broker. Broker will be named as an additional insured in all such policies. 10. Indemnification. Associate will indemnify and hold Broker, its officers, directors and employees harmless from all claims, demands, suits, costs and expenses, including reasonable attorneys’ 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. 11. Protection of Contractor’s Listings and Contracts: In the event that Contractor terminates his/her contractual relationship with Broker for any reason any and all listings obtained through the efforts of Contractor during the term of this Agreement shall be transferred to Contractor or to Contractor’s new employing broker, on Contractor’s behalf without penalty. All Pending and Contingent contracts must be closed with PREMIER BROKERS INTERNATIONAL, INC.. Commissions earned and paid on all sales contracts completed prior to the Contractor’s termination will be disbursed to the Contractor in compliance with the commission plan in effect at the time the contract was executed. Any contract that needs to be completed by Broker will be at a minimum 50/50 commission split. However, Contractor specifically agrees to continue to complete all work and fully cooperate with Broker as necessary to resolve any transactions, claims or disputes which are pending at the time, or which arise after Contractor’s contractual relationship with Broker terminates and Contractor shall indemnity and hold Broker harmless from all such matters. Any such transfer of listings and/or disbursement of commissions are conditioned on the Contractor having any and all dues, fees and expenses owing to Broker paid in full. 12. Termination Of Agreement – This Agreement may be terminated immediately by Broker for cause, or upon three-calendar day’s written notice by Broker or Contractor. Contractor agrees that a violation of any of Contractor’s obligations here-under shall constitute cause for immediate termination of this Agreement. In the event this Agreement is terminated by Broker for cause, Contractor agrees that any ongoing obligations of Contractor here-under shall survive the termination of this Agreement. 13. Mediation Of Disputes – In the event of a dispute involving two or more contractors, all of whom are licensed with PREMIER BROKERS INTERNATIONAL, INC.., Contractor authorizes the Designated Broker for PREMIER BROKERS INTERNATIONAL, INC.., sole and absolute discretion in resolving said dispute. Contractor agrees to abide by the decision of the Designated Broker. Contractor also agrees to hold harmless and indemnify PREMIER BROKERS INTERNATIONAL, INC.. and its Designated Broker against any claim, action or lawsuit of any kind and from any loss, judgment, or expense, including, but not limited to, attorneys’ fees arising from or relating in any way to the resolution of said dispute.