Per Article 13 of the Independent Contractor Agreement:
- Agent’s “Join Date” shall be the date on which Agent completes the onboarding process and transfers Agent’s license to the Company. This is also referred to as the activation or license transfer date.
- The “Anniversary Date” for Agent will be the first day of the calendar month following Agent’s Join Date. However, if the Agent’s Join Date is the first day of a calendar month, then it will be that day. This is also referred to as the Cap Reset Date.
- For example, if an Agent transfers their license to Real on January 9, their Anniversary (or Cap Reset Date) will be February 1 of each following year.
- If an Agent transfers their license to Real on January 1, their Anniversary (or Cap Reset Date) will remain as January 1 of each following year.
- “Anniversary Year” for an Agent means the 12-month period that begins on the Agent’s Anniversary Date. The Agent's Cap resets on each Anniversary Date and is payable up to the Cap amount per Anniversary Year.