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B. Obligations of Client <br /> 1. Client shall pay Gallagher a fee of Thirty-Five Thousand Dollars ($35,000)per <br /> year for the services provided hereunder, payable upon execution of this <br /> Agreement. <br /> 2. In addition to the fees (commissions) prnvided herein, it is understood and <br /> agreed that other parties, snch as excess and surplus line brokers, <br /> wholesalers,r�-insurance intermediaries,undenvriting managers and similar <br /> parties, some of which may be owned in whole or in part by Gallagher's <br /> corporate parent,may earn and retain usual and customary rnmmissions and <br /> fees in the course of providing insurance products to Client pursuant to this <br /> � Agreemen� Any such fees or commissions will not constitute compensation <br /> to Gallagher under Section III.B.1 above. <br /> 3. Client is responsi�le for payment of premiums for all insurance placed by <br /> Gallagher on its behalf. <br /> 4. If any amount is not paid in full when due, including premium payments to <br /> insurance companies, that nonpayment shall constitute a material breach of <br /> this Agreement that shall allow Gallagher to terminate this Agreement, at its <br /> option, in accordance with Section II.B. <br /> 3 <br />