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* * * * * * *
E (7) Above – Four equal semi-annual installments.
* * * * * * *
The District Manager agrees to transfer and assign all
of his/her interest under the District Manager
Appointment Agreement and his/her agency to the nominee
acceptable to the Companies, or to the Companies
themselves in the event they elect to pay the “Contract
Value” as hereinabove provided, and further agrees that
for a period of three years from date of said
cancellation * * * he/she will neither directly nor
indirectly in any manner solicit, accept or service,
for or on behalf of himself/herself or any insurer or
broker, the insurance business of any policyholder of
any of the Companies within the County or Counties in
which the district is located and all Counties
immediately adjoining.
The agreement also obligates petitioner to surrender to the
companies on cancellation of the agreement all records and other
materials having to do in any manner with the business of the
companies. It states petitioner’s agreement that all lists and
records pertaining to policyholders are the property of the
companies and that petitioner has no interest, assignable or
otherwise, in the “Agency” created by the agreement, except as
provided in paragraph E of the agreement (quoted in part above).
It further states that, in the event of cancellation, petitioner
will not interfere with the agency contracts of the agents or
district managers of the companies.
No provision of the agreement provides for any change in
“Contract Value”, once determined, on account of any subsequent
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Last modified: May 25, 2011