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7. Commissions on business produced by the REPRESENTATIVE
[petitioner] shall be vested in and paid to the
REPRESENTATIVE [petitioner], his heirs, executors,
administrators, successors and assigns unless and until the
REPRESENTATIVE’s [petitioner’s] “cash premiums as collected”
fall below $8,000.00 for a consecutive 12-month period, at
which time no further commission will be vested in or paid
to the REPRESENTATIVE [petitioner].
* * * * * * *
9. All vested commissions shall be forfeited, and no
monies otherwise payable to the REPRESENTATIVE [petitioner]
will be paid to the REPRESENTATIVE [petitioner] if, for
himself or on behalf of another, the REPRESENTATIVE
[petitioner] replaces any policy written under this
Agreement with a policy issued by another insurance company;
or, induces or attempts to induce any CAPITOL [Conseco]
policyholder to cancel, lapse or fail to renew any policy
issued by CAPITOL [Conseco], or any parent, subsidiary or
affiliate of CAPITOL [Conseco]; or, solicits, accepts or
retains any services of any representative licensed to
solicit applications for insurance to be issued by CAPITOL
[Conseco], or any parent, subsidiary of affiliate of CAPITOL
[Conseco], as long as such person is so associated or within
one year after such person has ceased to be associated; or,
after the termination of this Agreement between the
REPRESENTATIVE [petitioner] and CAPITOL [Conseco], by either
party for any reason, the REPRESENTATIVE [petitioner],
without the written consent of CAPITOL [Conseco], for
himself or on behalf of another, uses as stated on the first
page of this Agreement or as subsequently amended, the
Marketing Method to engage in any life, annuity or accident
and health insurance business.
The Schedule of Commissions and Fees, referred to in the
amended Commission Schedule and Vesting Provisions, was also
amended several times throughout the course of petitioner’s
employment. The final amendment, in the record, to the Schedule
of Commissions and Fees, effective October 12, 1991, provides as
follows:
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Last modified: May 25, 2011