Gilbert v. Equitable Life Insurance

Plaintiff appeals from an adverse judgment in his declaratory relief action.

Plaintiff became a general agent of defendant in 1955. Previously, he had been an agent of another general agent of defendant since April 15, 1949.

On July 26, 1955, the parties entered into a written “Organization Allowance Agreement” (O.A.A.) which provided in part as follows: “To assist second party in developing and maintaining his general agency and servicing policyholders, first party will remit second party an organization allowance payable at the end of each month in the amounts and for the periods indicated.…