This Commission Agreement ("the Agreement") is entered into on by and between First National Life Settlement, LLC (hereinafter "FNLS") with its principle place of business located at 309 Old York Rd. Suite 201, Jenkintown, PA 19046 and (hereinafter the "CONSULTANT") located at.
WHEREAS, FNLS is in the business of investing and brokering in the purchase of life insurance, and
WHEREAS, the CONSULTANT is in the business of arranging investments and brokering in life insurance purchasing by soliciting requests for life insurance purchasing from life settlors and submitting such requests to brokers and investors.
NOW, THEREFORE, for valuable consideration, the receipt, adequacy and sufficiency of which is hereby acknowledged, the parties hereby agree as follows:
1. FNLS agrees to pay the CONSULTANT either 50% of all commissions earned or a minimum of $2000.00 whichever is greater.
2. FNLS will pay the commission within 7 business days of receiving payment from the institutional funder.
3. This agreement shall be deemed to have been negotiated and drafted by both parties of equal bargaining position; its provisions shall be interpreted in accordance with the plain meaning of the words used and shall not be construed strictly in favor of, or against, any party.
4. The CONSULTANT understands and agrees that FNLS shall be entirely free to accept or reject any life settlement proposal that the CONSULTANT produces.
5. The CONSULTANT is an independent contractor. FNLS will not withhold any taxes and the CONSULTANT will not be entitled to any benefits, such as unemployment insurance, medical insurance, pension plans, or other such benefits.
6. The CONSULTANT understands and agrees that it will not have an exclusive marketing territory.
7. Either party can terminate this agreement by 30 days written notice to the other party. However, the CONSULTANT shall still be entitled to receive compensation to which it is entitled pursuant to the compensation arrangement made above between FNLS and the CONSULTANT.
8. In the event of any legal action to enforce this agreement, said action shall be venued in the jurisdiction of the filing plaintiff and shall be interpreted according to the laws of the State of Pennsylvania, and the prevailing party shall be entitled to recover its actual legal fees and expenses incurred in such action from the unsuccessful party.
Firm Name Street Address
YES, I do certify that the information supplied by me to be true and correct. By electronically signing this document, I acknowledge that I have read, understand, and agree to all the terms and conditions of this Consultant Agreement Form. No, I do not agree with the above statements.