The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1906-03-05

tract between the Continental Life Insur-
anee & Investment company and Werner
& Kimball
. This agreement. made this e4th day
OF February, 1904, between the Continent
tai Life Insurance & Investment COM
pany a corporation organized and exist
ing under the laws of the state of Utah,
NTH It's principal office in salt Lake CITY,
and George s. Kimbail. of Los Angeles,
Cal, second parties, witnesseth:
That in consideration of the coven-
ants and agreements hereinafter men
TONED, said parties agree with each other
as follows to-wit:
1.-Said first party hereby appoints
said second parties its special superin-
tendents, with the exclusive right of
placing in the United States all special
contracts issued by The first party The
forms of the special contracts shall be at
all times subject to the control and dis
position of the first party. and the esti-
mate Of results to De used is hereto at
tached and made part hereof, as ex-
2-The commissions to be allowed on
said special contracts are as follows:
'(a)-Ordinary life, twenty-payment
life and twenty-year endowments, 20 per
cent.
+" b)-Fifteen-year endowment and fiji
teen payment life, seventy-two and one
20 -Ten-payment life and ten-year
endowment siXty-scven and one-haif
(6f2l per cent
I
parties hereto that said second parties
may pay themselves the above commits
sions out of each premium collected upon
each policy. as the first premium and
shall be in full for all services of second
parties in placing insurance as aforesaid.
" 4.-Said party of the first part shall
pay az current oftlce expenses and
promptly write up and deliver to said sec
ond parties the policies for all business
written by second parties, which is &C
ceptable to said first party But said
to reject any and all policies or applica-
tions which may be made to it for insur-
ance under and through said second par
ties, which are not acceptable to said first
party in accordance with its rules, regu-
| lating the issuance of policies.
5.-Said second parties agree to use
their best endeavors to place all possible
insurance upon the books of the first
party. and hereby agree not to become
associated with any other life insurance
company. either directly or indirectly, but
/ to devote themselves to the interest of the
/ first party exclusively, and to place not
/ less than one million dollars of insurance
1 the first year, and not less than one mil
/ lion five hundred thousand dollars each
year thereafter. and guarantee hereby to
| have a total of at least ten million dollars
I insurance written, through their efforts
under this contract within a period OF
/ five years from the date hereof.
6.-Said second parties agree to pay in
| full to the first party the amount due
to said first party upon delivery of each
I
them, or their agents, but such payment
| to be refunded TO said second parties In
case such policy is returned for cancel
/ lation.
lit is further stipulated and agreed
+ that if said second parties fail TO pro-
| cure and produce the amount of business
/ in any one year as above specified, they
/ shall forfeit this contract upon thirty
/ days notice. and all rights and interest
therein at the option of the first party.
" S.-Limited as aforesaid, this contract
shall continue for a period of five years
/ or until ten million dollars of insurance
shall have been placed.
" 9.-NO applications shall be taken
| for insurance; and no policies issued be
/ fore the LIST day of March. 1904
" 10.-Said first party may limit the
amount of special insurance to be writ
ten in any one state.
d" 'n--NO insurance shall be written in
/ any state until first party properly quail
/ flies itself to write insurance In such
F" 12.-It is agreed that in case said spe-
cial supeTintendentS herelng. shall pay,
/ or knowingly allow TO be paid any re-
| bate for premium, in any manner what
/ SoeVer, directly or Indirectly, said first
| party may cancel this contract at once,
anything herein contained to the con-
/ trary notwithstanding
- 13.-This contract is confidential and
] said second parties agree that they will
not at any time divulge the terms of the
same.
I'm witness whereof the parties here
to have hereunder set their hands and
seals, in triplicate. the day and year first
above written
& INVESTMENT COMPANY.
q" BY Heber NJ. Wells, President.
Attest:
Nv H. Cunningham, Secretary.
Frank A. Werner