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ATTACHMENT “B”
ROYALTY FEE SCHEDULE
1. The royalty fee payable to SC shall be one half of
one percent (0.5%) of the Total Cardholder Sales Volume
if the fees received by ABS from the participating
financial institution are between 0.5% and 1.0% of the
Total Cardholder Sales Volume. Total Cardholder Sales
Volume is defined as the sum of all SC bankcard sales
drafts resulting from purchases at merchants by members
of SC using SC bankcards net of credit vouchers issued
for returned merchandise or other services, and net of
cash advances.
2. If SC elects to pursue the option specified in
Section 4.3 of this Agreement and if the fees received
by ABS from the participating financial institution are
between 0.6% and 1.0% of the Total Cardholder Sales
Volume, the royalty fee specified in Section 1. of this
Attachment "B" shall be increased to six tenths of one
percent (0.6%) of the Total Cardholder Sales Volume.
3. If the fees received by ABS from the participating
financial institution are more than 1.0% of the Total
Cardholder Sales Volume, the fee payable to SC, whether
otherwise 0.5% or 0.6%, shall be increased by an amount
equivalent to 50.0% of the fees payable to ABS in
excess of 1.0%.
4. If the fees received by ABS from the participating
financial institution are less than 1.0% of the Total
Cardholder Sales Volume, but more than 0.5% (or, in the
event SC elects the option referred to in Paragraph 2.
above, more than 0.6%), there will be no decrease in
the fees payable to SC under Paragraph 1. or 2. above.
However, if the fees received by ABS are less than 0.6%
or 0.5% (whichever is otherwise payable to SC), the
fees payable to SC will be the total fees received by
ABS from the participating financial institution.
5. When SC members use the 800 number travel service
described in Section 5. of Attachment "A", SC will be
paid a royalty of three percent (3.0%) of the price of
airline tickets purchased with the Sierra Club
bankcards and fifty percent (50.0%) of the hotel and
car rental commissions received by the participating
travel agency. These royalties are in addition to the
royalties specified in Section 1., 2., 3., or 4. of
this Attachment “B”.
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Last modified: May 25, 2011