Noribachi will pay a rebate of Five Percent (5%) on receipts from Products purchased under this Agreement at Prices equal to those listed online or in the Noribachi Pricing Guide in effect at the time of Purchase Order, less any gross receipts, sales, use tax or expediting fees applicable to the sale or the commission and less shipping and handling charges and any returns (“Net Receipts”). No rebate will be paid on any Product purchased online that has been returned within the allowable 30 day return period.
Rebates are only payable on each Purchase Order after all Products on the Purchase Order have been shipped and the Purchase Order and/or online order has been paid in full. Noribachi will endeavor to pay rebates by the end of the month following the month in which full payment of a Purchase Order has been received provided payment is received on or before the 21st day of the prior month or, if the 21st day falls on a Saturday, Sunday or federal bank holiday, then on or before the first day prior to the Saturday, Sunday or federal bank holiday. Payments received after the 21st of the month will be paid by the end of the second month after payment is received.
Noribachi will extend the Affiliate a monthly stipend not to exceed $800 for Affiliates committing to achieve and maintain a minimum three month trailing average of purchases of $5,000 per month (“Stipend Production”), to be used by the Affiliate for business purposes including marketing materials, purchase of demonstration lights and other costs incurred for the promotion of Noribachi products. The stipend will be awarded at Noribachi’s sole discretion and Noribachi reserves the right to reduce or terminate the stipend at any time without prior notice and without further obligation to Affiliate.
Noribachi will endeavor to pay stipends on or before the end of each month beginning with the month in which Affiliate commits to the Stipend Production. If Affiliate fails to meet its Stipend Production Noribachi may terminate payment of stipends and deduct a prorata amount of stipends paid from commissions due to Affiliate. Affiliate must report any failure to receive rebates or deficiency or discrepancy in rebates paid within thirty (30) days of the date rebates were due to be paid. Failure to report any such failure, deficiency or discrepancy within such period will relieve Noribachi of any obligation to pay any such rebate, deficiency or discrepancy.