Matthew Hudack and Kristen Hudack - Page 4

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               In 1986, petitioner received his license to sell life                  
          insurance products in the State of California.  From 1986 to June           
          1990 and from June 1993 to at least the date of trial, petitioner           
          worked for the Manufacturers Life Insurance Co. (USA) (Manulife)            
          selling life insurance products.  Manulife is a Toronto-based               
          insurance company that sells annuities, group pensions, insurance           
          policies, and college savings plans and provides investment                 
          account management services.                                                
               On January 1, 1999, petitioner executed a “Regional Director           
          Employment Agreement” (agreement) with Manulife, which was in               
          effect during the years in issue.3  The agreement required                  
          petitioner to serve Manulife full time as a primary                         
          representative and an integral part of Manulife’s sales service             
          for an indefinite period.  The agreement also required petitioner           
          to “agree not to sell, solicit, market or otherwise promote                 
          financial products for any company other than” Manulife and its             
          subsidiaries without Manulife’s written consent and to adhere to            
          all policies, procedures, and written rules and regulations of              
          Manulife including Manulife’s codes of conduct.                             
               Under the agreement, petitioner was an at-will employee.               
          The agreement provided that petitioner was “attached” to                    
          Manulife’s Orange County Sales Office in Irvine, California                 
          (Irvine office), and assigned him the southern California sales             


               3  Manulife has 29 regional directors nationwide.                      




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Last modified: May 25, 2011