AMENDMENT #3 TO MANAGEMENT SERVICE AGREEMENT
WHEREAS, Standard Management Corporation and Standard Life Insurance
Company of Indiana have entered into a Management Service Agreement
effective August 1, 1992.
AND WHEREAS, Standard Management Corporation and Standard Life Insurance
Company of Indiana have entered into Amendment #1 to this Management
Service Agreement effective January 1, 1995.
AND WHEREAS, Standard Management Corporation and Standard Life Insurance
Company of Indiana have entered into Amendment #2 to this Management
Services Agreement effective January 1, 1997.
NOW THEREFORE, effective January 1, 1999, paragraph 4 of such agreement as
amended by Amendment #1 and Amendment #2 shall be amended by deleting the
former paragraph 4 in its entirety and replacing it with the following:
4. In consideration for the services provided in paragraphs
1, 2, and 3, Standard agrees to pay the company a monthly fee of Three
Hundred Thousand Dollars ($300,000) which is due and payable within ten
(10) days from the receipt of the invoice.
IN WITNESS WHEREOF, the parties hereto have executed effective January 1,
1999 this Amendment #3 to the Management Service Agreement.
STANDARD MANAGEMENTSTANDARD LIFE INSURANCE
CORPORATIONCOMPANY OF INDIANA
By: _________________________By: ________________________________
Xxxxxx X. StahlRaymond X. Xxxxxx
Executive Vice President & President
Director Corporate Development
