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The Insurance Agent Commission Split Agreement is essential when multiple insurance agents collaborate on insurance sales or client servicing. This document, governed by U.S. state insurance laws, establishes clear guidelines for commission sharing, preventing disputes and ensuring regulatory compliance. It's particularly important when agents work together on accounts, during agent transitions, or in mentorship arrangements. The agreement typically includes specific commission percentages, payment schedules, and responsibilities of each party while maintaining compliance with state insurance regulations and licensing requirements.

1. Parties: Identifies the parties to the agreement, including their legal names, addresses, and licensing information

2. Background: Explains the context of the agreement and the parties' intent to share insurance commissions

3. Definitions: Defines key terms used throughout the agreement including 'Commission', 'Insurance Products', 'Split Percentage'

4. Commission Structure: Details the agreed-upon commission split percentages and calculation methods

5. Payment Terms: Specifies payment frequency, method, and timing of commission distributions

6. Obligations and Responsibilities: Outlines each party's duties and responsibilities in the relationship

7. Term and Termination: Specifies duration of agreement and conditions for termination

8. Governing Law: Identifies the state law governing the agreement