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Agreements
Petitioner entered into a contract with Brent-Wyatt East
(BWE), on January 22, 1982 (1982 Agreement), in which BWE agreed
to conduct an "earnings" program (the Program) for petitioner.
The 1982 Agreement provided that:
(i) Its term would be for 3 years from January 1, 1982, but
would terminate upon written notice by one party to the other of
breach and the failure of the defaulting party to cure the breach
within 15 days of receipt of the notice;
(ii) BWE agreed to conduct the Program by "marketing
advertising" on behalf of petitioner through a telephone
solicitation and to produce, publish, and lay out at least 1,000
yearbooks;
(iii) petitioner would receive 41 percent of gross weekly
collections and any amounts left after all Program obligations
have been met but not less than $100,000 for each solicitation,
which was to occur annually;
(iv) BWE would receive 7 percent of gross weekly
collections;
(v) telephone salesmen, field representatives, and office
managers, who worked for both petitioner and BWE, would receive
31.5 percent of gross weekly collections;
(vi) the parties would receive amounts due them at weekly
settlement meetings;
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Last modified: May 25, 2011