![]() In 2009, after meeting with EBS about the bonuses and retirement account funds, Loweth paid EMCNL $144,000.00 in cash and assigned EMCNL all of the monies in his retirement account. Under the Bonus Agreements, in 20, EMCNL paid Loweth $52,241.20 in bonuses based on his sales. Loweth also entered into a "Supplemental Bonus Plan Agreement" (the Bonus Agreements) with EMCNL. Between 20, under the Deferred Income Agreement, EMCNL yearly transferred money into an account for the personal benefit of Loweth, totaling $760,814.40. Under the Deferred Income Agreement, EMCNL made contributions to Loweth's retirement account. Loweth entered into an "Agent's Deferred Income Agreement" (the Deferred Income Agreement) that identified as EMCNL and EBS/Loweth as the contracting parties and identified Loweth as the beneficiary of the agreement and as an employee of EBS/Loweth. EBS adopted resolutions to enter into an agent contract with EMCNL and that Loweth, as President of EBS, was authorized to enter into contracts with EMCNL. EMC NATIONAL LIFE SERIESBeginning in 1999, Loweth entered into a series of agreements with EMCNL, purporting to outline and govern the relationship between EMCNL, EBS, and Loweth. EMC NATIONAL LIFE FULLLoweth (Loweth) managed EBS full time and was paid a salary, bonus, and benefits. However, to illustrate the remaining issue, the Court finds it appropriate to provide *981 some discussion both of the factual background and the legal issues.ĮBS works with insurance agents, providers, and underwriters to package various types of coverage to sell to union workers. For the reasons stated below, the Court does not find the matter fully submitted and ready for ruling. Todd Strother represented EMCNL, and Arnold Anderson Vickery represented EBS. The Court held a hearing on the motion on August 2, 2011. Plaintiff/Counterclaim Defendant EMC National Life Company (EMCNL) does not resist the determination of the law point at issue in EBS's motion but argues for a contrary result. 60) filed by Defendant/Counterclaim Plaintiff Employee Benefits Systems, Inc. This matter comes before the Court on a Motion for Determination of a Law Point (ECF No. Foley, Babich Goldman, P.C., Des Moines, IA, for Defendant, William B. ![]() ![]() Brown, Joseph Graham Gamble, Duncan Green Brown Langeness & Eckley PC, Arnold Anderson (Andy) Vickery, Perdue Kidd & Vickery, Des Moines, IA, for Counter Claimant/Defendant, Employee Benefits Systems, Inc. Strother, Bradshaw Fowler Proctor & Fairgrave Des Moines, IA, for Counter Defendant/Plaintiff, EMC National Life Company. Loweth, Defendants.Įmployee Benefits Systems, Inc., Counterclaim PlaintiffĮMC National Life Company, Counterclaim Defendant. 827 F.Supp.2d 979 (2011) EMC NATIONAL LIFE COMPANY, Plaintiff,ĮMPLOYEE BENEFITS SYSTEMS, INC., and William B. ![]()
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