Reisbeck v. Farmers Insurance Exchange

¶1 Gerald Reisbeck entered into a District Manager’s Appointment Agreement and an Addendum thereto (hereinafter referred to as Agreement) with Farmers Insurance Exchange, Truck Insurance Exchange, Fire Insurance Exchange, Mid-Century Insurance Company and Farmers New World Life Insurance Company (the Companies) in 1974. As provided in the Agreement, the Companies retained $1,610.00 per month from his compensation. The Companies terminated Reisbeck’s employment in 1999, paying him, pursuant to the Agreement, a “contract value” of approximately $836,000.00 but not paying him the “retained”…