Education Library » Agent/Solicitor Agreement Sample D

Agent/Solicitor Agreement Sample D Print this page

This contract made and entered into as of (date) by and between the (agency name) hereinafter called the Principal and (agent name) hereinafter called the Producer. Witnesseth that;

WHEREAS, the Producer desires to become employed by the Principal, now therefore, it is mutually agreed by and between the parties as follows:

EMPLOYMENT: That the Principal hereby agrees to employ the Producer and the Producer hereby agrees to be employed by the Principal as an insurance salesperson and agrees to devote full time thereto.

REMUNERATION: That the Producer shall receive remuneration for his/her services as agreed upon from time to time by Principal and Producer in recognition of this agreement.

DEATH OR DISABILITY: It is agreed by the Principal that in the event of total disability or death of the producer, the Principal shall pay to the totally disabled Producer or to the family of the deceased Producer one hundred percent (100%) commission on all business of the Producer that renews during the 12 months beginning the first day of the month following the month of such disability or death.

AGREEMENT NOT TO COMPETE: That the parties hereto agree that in case the employment of the Producer should terminate, the Producer agrees not to engage in a similar business within the county of domicile of the Principal for a period of two years. The Producer agrees not to solicit or to procure others to solicit any of his or the Principal’s customers for a period of two years from the date of such termination regardless of the location of such customers, it being further mutually agreed that ownership of expirations shall at all times remain with the Principal.

BAD DEBTS: That the Producer shall assume the responsibility for the collection of premiums on all insurance sold by Producer and losses on any premiums not collected shall be deducted from, but shall not exceed, bonus to be paid Producer as agreed. However, it is expressly understood by the parties hereto that no credit shall be extended to any customer except with the approval of Principal, and Principal shall retain the right to cancel coverage and collect premiums due Principal in accordance with agency policy.

VACATION: That Producer shall receive each year two weeks’ vacation with pay.

IN WITNESS WHEREOF, the parties have hereunto set their hands and seals on this (date)

In presence of: (witness)

Signatures

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