Fill and Sign the Commission Agreement Agent Template Form

Commission Buyout Agreement WHEREAS, ________________, desires to sell and assign all of the future commissions due to him from __________________________; and WHEREAS, ____________________, desires to sell and assign these commissions to _______________________; NOW, THEREFORE, for and in consideration of the payments promised below,_____________________, does hereby sell and assign all of said _____________ commissions to _____________________. As a result of the assignment of _________________ = s _____________ commissions to ____________, the commissions and/or buy out of___________________ = s transferred interest will be paid as follows: 1. As long as __________________, is living and is a licensed agent authorized to receive insurance commissions, ____________________ will pay __________________. 100% of the commissions received by ________________, resulting from previous sales of __________ Insurance by ___________________ 2. If ___________________--, dies or ceases to be a licensed agent within the next five years, ___________________ will pay to ___________________, or to his spouse in case of his death, a) 60% ________________ = s interest in said commissions if death or loss of license occurs between ___________ ___, 20____, and ____________ ___, 20____; b) 50% ___________’s interest in said commissions if death or loss of license occurs between ________________ ____, 20____, and ___________ ____, 20____; c) 40% of _____________________ = s interest in said commissions if death or loss of license occurs between ______________ ____, 20_____, and _____________ _____, 20____; d) 33% of ______________’s interest in said commissions if death or loss of license occurs between _____________ ____, 20____, and _________ ____, 20____; d) 33% of _________________’s interest in said commissions if death or loss of license occurs between _____________ ____, 20____, and __________ ___, 20____, after which time no further payment will be due. Notwithstanding the foregoing, all such payments due from ______________________, to __________________, will cease and no longer be owed to ________________, if _________________, predeceases ________________. 3. If one of the assigned case is moved to another carrier, payment of the amount due to __________________ for the commissions on said case will be reduced by 20%. WITNESS OUR SIGNATURES effective as of the first day of __________, 20____. ___________________________ ___________________________