Employment of broker to take charge of branch of business.

This agreement made _________[date] between _________ Company, a corporation, referred to as A, and _________, of _________, referred to as B, provides:

A is desirous of establishing in connection with its stock and bond brokerage, corporate agency and promotion business, a real estate department, for the purpose of carrying on and conducting, in the City of _________ and elsewhere, a general real estate, rental, collection and insurance business.

B is desirous of taking charge of, managing and conducting a real estate department for and in behalf of and in conjunction with A.

Therefore, A agrees to furnish and equip a suitable room, in connection with its general offices in the City of _________ for the use of B in conducting a real estate department, and it is also agreed that A will pay all reasonable expenses of maintaining the same, such as rent, telephone, stationery and advertising and make all other outlays necessary or incident to the proper conduct of the real estate business in a businesslike manner.

A agrees that it will pay and allow B, as compensation, and in full for services in conducting such real estate department, one-half of all commissions, fees, charges or gross profits, of all and every character accruing from sales made or other business pertaining or incident to the real estate department, negotiated by B through or in connection with conducting and handling the general real estate agency business.

B agrees to faithfully devote h— whole time during reasonable business hours to the real estate department, to exert h— best endeavors to conduct the affairs of the real estate department in a businesslike manner and for the best mutual interests of all parties to this agreement, and to accept, in full payment for services, one-half of the gross receipts of all business negotiated, handled and conducted by h— as expressed above.

The business of the real estate department shall consist in buying, selling, owning, handling or otherwise dealing in real estate or real property or interests in it, as a real estate agent or broker; acting as a general insurance agent in negotiating and placing fire insurance on all and every character of property either as broker for insurance companies or representative of other agents for such companies; acting as agent for owners of real property in renting or leasing same and collecting and accounting for rentals or other profits of it; and the business of the department shall in no wise be construed to include the stock, bond, brokerage or other business of A and the proportion of profit accruing to B shall bear no relation to that business.

All the business of the real estate department shall be conducted in, by and under the name of A, as a corporation, and B shall act in all things pertaining to conducting the real estate department, by, through and with the general direction of the officers of A.

All profits accruing from such business, so handled or negotiated by B, and all record of business pertaining to it shall be reported as soon as practicable to the secretary or other authorized officer of A, and record kept of it, and all money or property incident to it handled, in pursuance of bylaws and authorized orders of the board of directors of A.

Profits from which B shall receive h— share or division, as set out above, shall include profits arising from transaction of the business of the department, whether the same be brought in or negotiated by B or by any of the officers of A.

The life of this contract shall be one year from date subject to revocation or amendment by the parties to it.