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which he is authorized to use on behalf of CAPITOL [Conseco]
after the date hereof.
The Commission Schedule and Vesting Provisions referred to
in the Marketing Agreement were amended several times throughout
the course of petitioner’s employment. The final amendment, in
the record, to the Commission Schedule and Vesting Provisions,
effective August 15, 1988, provides, in pertinent part, as
follows:
This Schedule is attached to and made a part of the
Agreement by and between Gregg R. Gilbert (the
“REPRESENTATIVE”) [petitioner] and CAPITOL AMERICAN LIFE
INSURANCE COMPANY (CAPITOL) [Conseco], effective July 30,
1985, which Agreement, as amended from time to time, is
hereinafter referred to as the “Agreement.”
In Consideration of the faithful performance of all of
the terms of the Agreement by the REPRESENTATIVE
[petitioner], CAPITOL [Conseco] agrees to allow and pay to
the REPRESENTATIVE [petitioner], as full compensation,
commissions at the following rates on “cash premiums as
collected” (as hereinafter defined) on policies issued upon
applications written by the REPRESENTATIVE [petitioner] and
his subordinate representative(s), if any, less all first
year and renewal commissions due from or payable by CAPITOL
[Conseco] to the REPRESENTATIVE’s subordinate
representative(s), if any, as per the attached “Schedule of
Commissions and Fees.”
GENERAL PROVISIONS
1. As used herein, “cash premiums as collected” means
gross premiums (but not including enrollment or other fees)
received in CAPITOL’s [Conseco’s] Executive Office for those
policies or applications therefor specified above, less
premiums for those policies or applications therefor
returned to the policyholder or applicant directly or
through the REPRESENTATIVE [petitioner].
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