EXHIBIT 24(b)(3)(b)
FORM OF BROKER DEALER SUPERVISORY AND SERVICE AGREEMENT
[logo]PHOENIX(R) BROKER-DEALER VARIABLE CONTRACT
SUPERVISORY AND SERVICE AGREEMENT
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Phoenix Equity Planning Corporation ("PEPCO"), the master servicer and
distributor for the Contracts hereunder described and the undersigned
broker-dealer (the "Broker-Dealer"), enter into this Agreement as of the date
indicated, for the purpose of appointing the Broker-Dealer to perform the
services hereunder described, subject to the following provisions:
1. Except as provided below, PEPCO hereby appoints the Broker-Dealer to provide
sales assistance with respect to, and to cause applications to be solicited
for the purchase of variable annuity contracts and/or variable life policies
issued by Phoenix Life Insurance Company, Phoenix Life and Annuity Company
and/or PHL Variable Insurance Company (the "Insurer") through Separate
Accounts including the Phoenix Life Variable Accumulation Account, Phoenix
Life Variable Universal Life Account, Phoenix Life and Annuity Variable
Universal Life Account and PHL Variable Accumulation Account and listed on
Schedules A1, A2, B and C. Broker-Dealer accepts such appointment and agrees
to use its best efforts to provide sales assistance to producers of the
Insurer and to cause applications for the purchase of contracts and/or
policies to be solicited by such producers. Broker-Dealer agrees to pay a
commission to such producers.
2. The Broker-Dealer will promptly forward to the appropriate office of Phoenix,
or its authorized designee, all contract and/or policy applications along
with other documents, if any, and any payments received with such
applications and will have no rights of set off for any reason. Any Contract
application which is rejected, together with any payment made and other
documents submitted, shall be returned to the Broker-Dealer.
3. PEPCO shall pay the Broker-Dealer service payments relating to applications
submitted by Broker-Dealer. The amount to be paid by PEPCO is specified on
Schedule A1, A2, B and C of this Agreement. The Broker-Dealer agrees to
return promptly to PEPCO, all compensation received for any Contract returned
within the "free look" period as specified in the Contract.
4. The Broker-Dealer represents that it is a registered broker-dealer under the
Securities Exchange Act of 1934, a member in good standing of the National
Association of Securities Dealers, Inc. ("NASD"), and is registered as a
broker-dealer under state law to the extent required in order to provide the
services described in this Agreement. Broker-Dealer agrees to abide by all
rules and regulations of the NASD, including its Conduct Rules, and to comply
with all applicable state and federal laws and the rules and regulations of
authorized regulatory agencies affecting the sale of the contracts and/or
policies, including the prospectus delivery requirements under the Securities
Act of 1933 for the contracts and/or policies and any underlying mutual fund.
The Broker-Dealer agrees to notify PEPCO promptly of any change, termination,
or suspension of its status. Broker-Dealer shall immediately notify PEPCO
with respect to: i) the initiation and disposition of any form of
disciplinary action by the NASD or any other agency or instrumentality having
jurisdiction with respect to the subject matter hereof against Broker-Dealer
or any of its employees or agents; ii) the issuance of any form of deficiency
notice by the NASD or any such agency regarding Broker-Dealer's training,
supervision or sales practices; and/or iii) the effectuation of any
consensual order with respect thereto.
5. In connection with the solicitation of applications for the purchase of
contracts and/or policies, Broker-Dealer agrees to indemnify and hold
harmless PEPCO and the Insurer from any damage or expense as a result of: (a)
the negligence, misconduct or wrongful act of Broker-Dealer or any employee,
representative or agent of the Broker-Dealer; and/or (b) any actual or
alleged violation of any securities or insurance laws, regulations or orders.
Any indebtedness or obligation of the Broker-Dealer to PEPCO or the Insurer,
whether arising hereunder or otherwise, and any liabilities incurred or
monies paid by PEPCO or the Insurer to any person as a result of any
misrepresentation, wrongful or unauthorized act or omission, negligence of,
or failure of Broker-Dealer or its employees, producers, and registered
representatives to comply with this Agreement, shall be set off against any
compensation payable under this Agreement. Notwithstanding the foregoing,
Broker-Dealer shall not indemnify and hold harmless PEPCO and the Insurer
from any damage or expense on account of the negligence, misconduct or
wrongful act of Broker-Dealer or any employee, representative or producer of
Broker-Dealer if such negligence, misconduct or wrongful act arises out of or
is based upon any untrue statement or alleged untrue statement of material
fact, or the omission or alleged omission of a material fact in: (i) any
registration statement, including any
HO3272 1 2-02
prospectus or any post-effective amendment thereto; or (ii) any material
prepared and/or supplied by PEPCO or the Insurer for use in conjunction with
the offer or sale of the contracts and/or policies; or (iii) any state
registration or other document filed in any state or other jurisdiction in
order to qualify any contract and/or policy under the securities laws of such
state or jurisdiction. The terms of this provision shall not be impaired by
termination of this Agreement.
In connection with the solicitation of applications for the purchase of
contracts and/or policies, PEPCO and the Insurer agree to indemnify and hold
harmless Broker-Dealer from any damage or expense on account of the
negligence, misconduct or wrongful act of PEPCO or the Insurer or any
employee, representative or producer of PEPCO or the Insurer, including but
not limited to, any damage or expense which arises out of or is based upon
any untrue statement or alleged untrue statement of material fact, or the
omission or alleged omission of a material fact in: (i) any registration
statement, including any prospectus or any post-effective amendment thereto;
or (ii) any material prepared and/or supplied by PEPCO or the Insurer for use
in conjunction with the offer or sale of the contracts and/or policies; or
(iii) any state registration or other document filed in any state or other
jurisdiction in order to qualify any contract and/or policy under the
securities laws of such state or jurisdiction. The terms of this provision
shall not be impaired by termination of this Agreement.
6. The Broker-Dealer will itself be, or will select persons associated with it
who are, trained and qualified to solicit applications for purchase of
contracts and/or policies in conformance with applicable state and federal
laws. Any such persons shall be registered representatives of the
Broker-Dealer in accordance with the rules of the NASD, be licensed to offer
the contract and/or policy in accordance with the insurance laws of any
jurisdiction in which such persons solicits applications, be licensed with
and appointed by the Insurer to solicit applications for the contracts and/or
policies and have entered into the appropriate Independent Producer Variable
Contract with the Insurer, if applicable. Under the Independent Producer
Variable Contract, the Insurer will make payments to the Broker-Dealer.
Broker-Dealer will train and supervise its representatives to insure that
purchase of a contract and/or policy is not recommended to an applicant in
the absence of reasonable grounds to believe that the purchase of a contract
and/or policy is suitable for that applicant. Broker-Dealer shall pay fees to
regulatory authorities in connection with obtaining necessary securities
licenses and authorizations for registered representatives to solicit
applications for the purchase of contracts and/or policies. Broker-Dealer is
not responsible for fees in connection with the appointment of registered
representatives as insurance agents of the Insurer.
7. The activities of all producers referred to in Paragraph 6 will be under the
direct supervision and control of the Broker-Dealer. The right of such
producers to solicit applications for the purchase of contracts and/or
policies is subject to their continued compliance with the rules and
procedures which may be established by the Broker-Dealer, PEPCO or the
Insurer, including those set forth in this Agreement.
8. The Broker-Dealer shall ensure that applications for the purchase of
contracts and/or policies are solicited only in the states where the
contracts and/or policies are qualified for sale, and only in accordance with
the terms and conditions of the then current prospectus applicable to the
contracts and/or policies and will make no representations not included in
the prospectus, Statement of Additional Information, or in any authorized
supplemental material supplied by PEPCO. With regard to the contracts and/or
policies, the Broker-Dealer shall not use or permit its producers to use any
sales promotion materials or any form of advertising other than that supplied
or approved by PEPCO. Broker-Dealer shall ensure that the prospectus delivery
requirements under the Securities Act of 1933 and all other applicable
securities and insurance laws, rules and regulations are met and that
delivery of any prospectus for the contracts and/or policies will be
accompanied by delivery of the prospectus for the underlying mutual funds.
9. The Broker-Dealer understands and agrees that in performing the services
covered by this Agreement, it is acting in the capacity of an independent
contractor and not as an agent or employee of PEPCO, and that it is not
authorized to act for, or make any representation on behalf of, PEPCO or the
Insurer except as specified herein. Broker-Dealer understands and agrees that
PEPCO shall execute telephone transfer orders only in accordance with the
terms and conditions of the then current prospectus applicable to the
contracts and/or policies and agrees that, in consideration for the
Broker-Dealer's right to exercise the telephone transfer privilege, neither
PEPCO nor the Insurer will be liable for any loss, injury or damage incurred
as a result of acting upon, nor will they be held responsible for the
authenticity of, any telephone instructions containing unauthorized,
incorrect or incomplete information. Broker-Dealer agrees to indemnify and
hold harmless PEPCO and the Insurer against any loss, injury or damage
resulting from any telephone exchange instruction containing unauthorized,
incorrect or incomplete information received from Broker-Dealer or any of its
registered representatives. (Telephone instructions are recorded on tape.)
HO3272 2 2-02
10.This Agreement may not be assigned by the Broker-Dealer without the prior
consent of PEPCO. Any party hereto may cancel this Agreement at any time upon
written notice. This Agreement shall automatically terminate if the
Broker-Dealer voluntarily or involuntarily ceases to be or is suspended from
being, a member in good standing of the NASD. Provided further, PEPCO
reserves the right to terminate this Agreement in the event that any employee
or agent of Broker-Dealer is suspended, disciplined or found to be in
violation of governing insurance or securities laws, rules or regulations.
Furthermore, PEPCO reserves the right to revise the payments for services
described in this Agreement as set forth in Paragraph 3 at any time upon the
mailing of written notice to the Broker-Dealer. Failure of any party to
terminate this Agreement for any of the causes set forth in this Agreement
shall not constitute a waiver of the right to terminate this Agreement at a
later time for any such causes.
11.This Agreement on the part of the Broker-Dealer runs to PEPCO and the Insurer
and is for the benefit of and enforceable by each. This Agreement shall be
governed by and construed in accordance with the laws of the State of
Connecticut. This Agreement supersedes any agreement in effect prior to
August 28, 2000. Your first contract/policy sale after receipt of this
Agreement shall constitute your acceptance of its terms. If you do not wish
to participate in soliciting applications for one of the available products,
you must complete Section 12.
12.Applications for the following products will not be solicited by any
representative, employee or agent of the Broker-Dealer:
A. [ ] Phoenix Life Insurance Company
[ ] Variable Annuities
[ ] Variable Universal Life
B. [ ] PHL Variable Insurance Company
[ ] Variable Annuities
C. [ ] Phoenix Life and Annuity Company
[ ] Variable Universal Life
13.PEPCO agrees to comply with all laws, rules, regulations, and ordinances
relating to privacy, confidentiality, security, data security, and the
handling of customer information which may from time to time be established.
PEPCO agrees not to disclose or use any consumer nonpublic personal
information (including nonpublic personal financial information and nonpublic
personal health information), which may be supplied by you to PEPCO in
performance under this Agreement other than to: a) carry out the purpose for
which the information was provided; and b) to use or disclose the information
as otherwise permitted or required by law. You agree to comply with all laws,
rules, regulations, and ordinances relating to privacy, confidentiality,
security, data security, and the handling of customer information which may
from time to time be established. You agree not to disclose or use any
consumer nonpublic personal information (including nonpublic personal
financial information and nonpublic personal health information), which may
be supplied by PEPCO to you in performance under this Agreement other than
to: a) carry out the purpose for which the information was provided; and b)
to use or disclose the information as otherwise permitted or required by law.
This provision will survive and continue in full force and effect after the
termination of this Agreement.
Broker-Dealer Firm:
Name of Firm: __________________________________________________________
By: ____________________________________________________________________
Print Name & Title: ____________________________________________________
Date: ________________________ NASD CRD Number _________________________
Phoenix Equity Planning Corporation
By: ____________________________________________________________________
Title: _________________________________________________________________
Date: __________________________________________________________________
HO3272 3 2-02
[logo]PHOENIX(R)
Phoenix Life Insurance Company
Phoenix Life and Annuity Company
PHL Variable Insurance Company
Phoenix Equity Planning Corporation
Members of The Phoenix Companies, Inc
MAIN ADMINISTRATIVE OFFICE:
Xxxxxxxx, Xxxxxxxxxxx
XX0000 4 2-02
PHOENIX LIFE INSURANCE COMPANY
COMPENSATION SCHEDULE
This Compensation Schedule and Footnotes form a part of the Contract and is
subject to all terms and conditions thereof. The commission schedule may be
modified in whole or in part from time to time through standard Company
communication procedures and such modification shall have the same force and
effect as if this Schedule had been physically amended.
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FIRST YEAR RENEWAL COMMISSIONS
ON RENEWAL PREMIUMS OR CASH VALUE FOR TRAILS
COMMISSIONS ON ------------------------ ------------------------
Vested Commissions Non Vested Commissions
I. NON-REGISTERED PRODUCTS FIRST YEAR PREMIUMS Policy Years Policy Year
(b)
(a) 2nd-10th 11th and later
--------------------------------------------------- --------------------------- ------------------------ -------------------------
UNIVERSAL LIFE % % %
Phoenix Protector UL II
Up to Commission Target Premium 50 3 3
Excess of Commission Target Premium 3 3 3
Phoenix Accumulator UL II
Up to Commission Target Premium 50 3 3
Excess of Commission Target Premium 3 3 3
Phoenix Estate Legacy III
Up to Commission Target Premium 50 3 3
Excess of Commission Target Premium 3 3 3
Phoenix Executive UL (c)
Up to Commission Target Premium 24 7 in years 2-7 2.5% in years 8+
2.5 in yrs 8+
Excess of Commission Target Premium 2.5 2.5 2.5
Asset Based Trail N/A 0.10% per yr in yrs 6+ 0.10% per yr
--------------------------------------------------- --------------------------- ------------------------ -------------------------
TERM %
Phoenix Protector Term-10 (PPT-10) 50 None None
Phoenix Protector Xxxx-00 (XXX-00) 00 Xxxx Xxxx
Phoenix Protector Term-30 (PPT-30) 50 None None
Phoenix Value Term-20 (XXX-00) 00 Xxxx Xxxx
--------------------------------------------------- --------------------------- ------------------------ -------------------------
FIXED ANNUITY %
Phoenix Edge -- SPIA
Options A, B, C, D, G, J
Issue Age: 5-74 3.0 None None
Issue Age: 75-90 1.5 None None
Option E -- Annuity for a Specified Period:
Period Certain: Less than 10 yrs 1.5 None None
Period Certain: Greater than or 3.0 None None
equal to 10 yrs)
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FIRST YEAR RENEWAL COMMISSIONS
ON RENEWAL PREMIUMS ON CASH VALUE FOR TRAILS
COMMISSIONS ON ------------------------ ------------------------
Non Vested Commissions Non Vested Commissions
II. REGISTERED PRODUCTS FIRST YEAR Policy Year Policy Year
A. LIFE INSURANCE PREMIUMS (b) (b)
(a) 2nd-10th 11th and later
--------------------------------------------------- --------------------------- ------------------------ -------------------------
% % %
Phoenix Individual Edge
Up to Commission Target Premium 50 6.5 in yr 2, 0 in yrs 3+ 0
Excess of Commission Target Premium 6.5 6.5 in yr 2, 0 in yrs 3+ 0
Asset-based Trail N/A 0.25% per yr in yrs 3+ 0.25% per year
--------------------------------------------------- --------------------------- ------------------------ -------------------------
Estate Edge (g) (h)
Up to Commission Target Premium 50 3 0
Excess of Commission Target Premium 3 3 0
Asset-based Trail N/A N/A 0.25% per year
--------------------------------------------------- --------------------------- ------------------------ -------------------------
Joint Edge
Up to Commission Target Premium 50 3 3
Excess of Commission Target Premium 4 3 3
--------------------------------------------------- --------------------------- ------------------------ -------------------------
Phoenix Executive VUL (c)
Up to Commission Target Premium 24 7 in yrs 2-7 2.5
2.5 in yrs 8+
Excess of Commission Target Premium 2.5 2.5 2.5
Asset-based Trail N/A 0.10% per yr in yrs 6+ 0.10% per year
--------------------------------------------------- --------------------------- ------------------------ -------------------------
Phoenix Edge -- SPVL
Issue ages: 30-80 7 N/A N/A
Issue ages: 81-85 5 N/A N/A
Asset-based Trail (all ages) None 0.25% in years 6+ 0.25% per year
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B. VARIABLE ANNUITIES OPTION NUMBER OPTION DESCRIPTION
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Investor's Edge -- Individual Deferred [ ] OPTION 1 5.00% of premiums paid plus an annual trail commission
Variable Annuity (d) of 1.00% of Contract Value beginning in the 4th year.
[ ] OPTION 2 3.50% of premiums paid plus an annual trail commission
of 1.00% of Contract Value beginning in the 2nd year.
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Spectrum Edge -- Individual Deferred [ ] OPTION 1 6.00% of premiums paid plus an annual trail commission
Variable Annuity (d) of .25% of Contract Value beginning in the 8th year.
[ ] OPTION 2 4.50% of premiums paid plus an annual trail commission
of .25% of Contract Value beginning in the 2nd year and
increasing to 1.00% in the 8th year.
[ ] OPTION 3 3.00% of premiums paid plus an annual trail commission
of .50% of Contract Value beginning in the 2nd year and
increasing to 1.00% in the 8th year.
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Big Edge Choice -- Individual Deferred [ ] OPTION 1 6.00% of premiums paid plus an annual trail commission
Variable Annuity (d) of .25% of Contract Value beginning in the 8th year.
[ ] OPTION 2 5.00% of premiums paid plus an annual trail commission
of .30% of Contract Value beginning in the 2nd year and
increasing to .50% in the 8th year.
[ ] OPTION 3 3.00% of premiums paid plus an annual trail commission
of .50% of Contract Value beginning in the 2nd year and
increasing to 1.00% in the 8th year.
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Phoenix Freedom Edge -- Individual 1.00% of premiums paid plus an annual trail of 1.00%
Deferred Variable Annuity of the Contract beginning in 2nd year. NOTE:
Termination or surrender in the first year will result
in a 100% charge back of all compensation on the amount
surrendered.
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Group Strategic Edge -- Allocated [ ] OPTION 1 5.00% of the first $20,000 of premiums paid, 4.00% of
Group Deferred Variable Annuity (e) the next $30,000 of premiums paid, and 3.50% of such
premiums paid over $50,000.
[ ] OPTION 2 3.00% of the first $20,000 of premiums paid, 2.50% of
such premium paid over $20,000 with an annual trail
commission of .25% beginning in the 2nd year.
[ ] OPTION 3 1.00% of premium paid plus a trail commission of 0.50%
of the Contract Value beginning in the 2nd year.
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Phoenix Income Choice -- Individual [ ] OPTION 1 5.50% of premiums paid. Sales of the contract to
Single Premium Immediate Fixed applicants over age 74 will be paid at 4.50% of
and Variable Annuity premiums paid.
(ALL CHOICES EXCEPT OPTION E) [ ] OPTION 2 4.50% of premiums paid plus an annual trail commission
of .25% of the Reserve beginning in the 2nd year.
Sales of the contract to applicants over age 74 will be
paid at 3.50% of premium paid plus an annual trail
commission of .25% of the Reserve beginning in the
2nd year.
[ ] OPTION 3 3.50% of premium paid plus an annual trail commission
of .50% of the Reserve beginning in the 2nd year. Sales
of the contract to applicants over age 74 will be paid
at 2.50% of premium paid plus an annual trail
commission of .50% beginning in the 2nd year.
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B. VARIABLE ANNUITIES (CONTINUED) OPTION NUMBER OPTION DESCRIPTION
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Phoenix Income Choice - Individual [ ] OPTION 4 Certain Period % of Trails
Single Premium Immediate Fixed and (Years) Deposit (% of Reserve)
Variable Annuity -- OPTION E (f) -------------------------------------------------------
5-9 2.00% 0.00%
-------------------------------------------------------
10-14 3.50% 0.00%
-------------------------------------------------------
15-19 5.00% 0.00%
-------------------------------------------------------
20+ 5.50% 0.00%
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Phoenix Income Choice - Individual [ ] OPTION 5 Certain Period % of Trails
Single Premium Immediate Fixed and (Years) Deposit (% of Reserve)
Variable Annuity -- OPTION E (f) -------------------------------------------------------
5-9 1.25% 0.25%
-------------------------------------------------------
10-14 2.50% 0.25%
-------------------------------------------------------
15-19 4.00% 0.25%
-------------------------------------------------------
20+ 4.50% 0.25%
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Phoenix Income Choice - Individual [ ] OPTION 6 Certain Period % of Trails
Single Premium Immediate Fixed and (Years) Deposit (% of Reserve)
Variable Annuity -- OPTION E (f) -------------------------------------------------------
5-9 1.00% 0.50%
-------------------------------------------------------
10-14 1.75% 0.50%
-------------------------------------------------------
15-19 2.75% 0.50%
-------------------------------------------------------
20+ 3.00% 0.50%
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FOOTNOTES:
(a) First year commissions are NOT paid on premium charged for the following:
1. Temporary extras.
2. Aviation and other avocation hazards.
(b) Non-vested commissions are payable in those years in accordance with the Compensation Provisions in you contract.
(c) There will be a charge back of 100% of all compensation paid on full surrenders in the first policy year. If there is a
partial withdrawal of policy value in the first policy year, compensation will be recalculated as if the policy had been
issued with a new reduced face amount and any compensation actually paid on this policy in excess of the recalculated sum
shall be returned to the Company. No compensation will be paid on premiums paid by existing loans or "carry over loans". If a
policy loan is taken in the first policy year, compensation will be recalculated as if the policy had been issued with a
"carry over loan" and any compensation actually paid on this policy in excess of the recalculated sum shall be returned to the
Company.
(d) Sales of the contract to applicants over age 80 will be paid at 50% of the Commission Option(s) chosen. Trail commissions
will be paid at the full percentage amount as listed. If more than one option is chosen the Broker-Dealer agrees that its
representatives may select from the specified Commissions Options at the time a Contact is purchased.
(e) Sales of the contract to applicants over age 80 will be paid at 50% of the commission option selected. Trail commissions
will be paid at the full percentage amounts listed. Banded compensation will be processed on a calendar year basis, based upon
aggregate premiums paid under the contract in that calendar year. Trail commissions will be paid on the Contract Value on a
calendar quarter basis on deposits held under the Contract for a year or more.
(f) If the certain period is shortened under Payment Option E, the commission will be adjusted accordingly.
(g) For Phoenix Estate Edge, qualified plans only, the first year commission rate will be 25% up to the commissionable target
premium (CTP). Commission in excess of the CTP will be 3%.
(h) For Phoenix Estate Edge, qualified plans only, a charge back of 10% of the CTP will be applied if the face amount is reduced
below:
o 40% of the initial base face amount in policy years 1 - 20
o 20% of the initial base face amount in policy years 21+
(i) NOTE: NOT ALL PRODUCTS ARE AUTHORIZED FOR ISSUANCE IN ALL JURISDICATIONS.
OL4112 Page 4 of 8 12-04
PHL VARIABLE INSURANCE COMPANY
COMPENSATION SCHEDULE
This Compensation Schedule and Footnotes form a part of the Contract and is subject to all terms and conditions thereof. The
commission schedule may be modified in whole or in part from time to time through standard Company communication procedures and such
modification shall have the same force and effect as if this Schedule had been physically amended.
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FIRST YEAR RENEWAL COMMISSIONS
ON RENEWAL PREMIUMS OR CASH VALUE FOR TRAILS
COMMISSIONS ON -------------------------------------------------
I. NON-REGISTERED PRODUCTS Vested Commissions Non Vested Commissions
FIRST YEAR PREMIUMS Policy Years Policy Year
(b) (b)
(a) Years 2-10 Years 11 and later
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UNIVERSAL LIFE % % %
Phoenix Protector UL II
Up to Commission Target Premium 50 3 3
Excess of Commission Target Premium 3 3 3
Phoenix Accumulator UL II
Up to Commission Target Premium 50 3 3
Excess of Commission Target Premium 3 3 3
Phoenix Estate Legacy III
Up to Commission Target Premium 50 3 3
Excess of Commission Target Premium 3 3 3
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Term %
Phoenix Protector Term-10 (PPT-10) 90 None None
Phoenix Protector Xxxx-00 (XXX-00) 00 Xxxx Xxxx
Phoenix Protector Term-30 (PPT-30) 100 None None
Phoenix Value Term-20 (XXX-00) 00 Xxxx Xxxx
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Fixed Annuity %
Phoenix Edge -- SPIA
Options A, B, C, D, G, J
Issue Age: 5-74 3.0 None None
Issue Age: 75-90 1.5 None None
Option E -- Annuity for a Specified Period:
Period Certain: Less than 10 yrs 1.5 None None
Period Certain: Greater than or 3.0 None None
equal to 10 yrs)
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FIRST YEAR Non Vested Commissions Non Vested Commissions
II. REGISTERED PRODUCTS COMMISSIONS ON Policy Year Policy Year
A. LIFE INSURANCE FIRST YEAR PREMIUMS (b) (b)
--------------------------------------------------
(a) Years 2nd-10th Years 11th and later
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% % %
Phoenix Edge - VUL
Policy Charge Option A
Up to Commission Target Premium 90 3 in yr 2; 0 in yrs 3+ 0
Excess of Commission Target Premium 3 3 in yr 2; 0 in yrs 3+ 0
Asset Based Trail N/A 0.25% per yr in yrs 3+ 0.25% per year
Policy Charge Option B
Up to Commission Target Premium 75 6 0
Excess of Commission Target Premium 3 3 0
Asset Based Trail N/A 0.25% per yr in yrs 8+ 0.25%
Policy Charge Option C
Up to Commission Target Premium 50 0 0
Excess of Commission Target Premium 3 0 0
Asset Based Trail N/A 0.35% per yr 0.35% per yr in yrs 11-15
0.25% per yr in yrs 16+
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Phoenix Edge - SVUL (e) (f)
Policy Charge Option A
Up to Commission Target Premium 90 3 in yr 2; 0 in yrs 3+ 0
Excess of Commission Target Premium 3 3 in yr 2; 0 in yrs 3+ 0
Asset Based Trail N/A 0.25% per yr in yrs 3+ 0.25% per year
Policy Charge Option B
Up to Commission Target Premium 75 6.0 0
Excess of Commission Target Premium 3 3 0
Asset Based Trail N/A 0.25% per yr in yrs 8+ 0.25%
Policy Charge Option C
Up to Commission Target Premium 50 0.65 0
Excess of Commission Target Premium 3 0 0
Asset Based Trail N/A 0.65% per yr 0.65% per yr in yrs 11-15
0.25% per yr in yrs 16+
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B. VARIABLE ANNUITIES OPTION NUMBER OPTION DESCRIPTION
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Premium Edge -- Individual Deferred [ ] OPTION 1 5.00% of premiums paid.
Variable Annuity (c) [ ] OPTION 2 4.00% of premiums paid plus an annual trail commission
of .20% of Contract Value beginning in the 2nd year.
[ ] OPTION 3 2.00% of premiums paid plus an annual trail commission
of .55% of Contract Value beginning in the 2nd year.
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Investors Edge -- Individual Deferred [ ] OPTION 1 5.00% of premiums paid plus an annual trail commission
Variable Annuity (c) of 1.00% of Contract Value beginning in the 4th year.
[ ] OPTION 2 3.50% of premiums paid plus an annual trail commission
of 1.00% of Contract Value beginning in the 2nd year
and beginning in the 2nd year.
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Spectrum Edge -- Individual Deferred [ ] OPTION 1 6.00% of premiums paid plus an annual trail commission
Variable Annuity (c) of .25% of Contract Value beginning in the 8th year.
[ ] OPTION 2 4.50% of premiums paid plus an annual trail commission
of .25% of Contract Value beginning in the 2nd year and
increasing to 1.00% in the 8th year.
[ ] OPTION 3 3.00% of premiums paid plus an annual trail commission
of .50% of Contract Value beginning in the 2nd year and
increasing to 1.00% in the 8th year.
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Big Edge Choice -- Individual Deferred [ ] OPTION 1 6.00% of premiums paid plus an annual trail commission
Variable Annuity (d) of .25% of Contract Value beginning in the 8th year.
[ ] OPTION 2 5.00% of premiums paid plus an annual trail commission
of .30% of Contract Value beginning in the 2nd year and
increasing to .50% in the 8th year.
[ ] OPTION 3 3.00% of premiums paid plus an annual trail commission
of .50% of Contract Value beginning in the 2nd year and
increasing to 1.00% in the 8th year.
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Phoenix Freedom Edge -- Individual 1.00% of premiums paid plus an annual trail of 1.00%
Deferred Variable Annuity of the Contract beginning in year 2. Termination or
surrender in the first year will result in a 100%
charge back of commissions on the amount surrendered.
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Phoenix Income Choice -- Individual [ ] OPTION 1 5.50% of premiums paid. Sales of the contract to
Single Premium Immediate Fixed applicants over age 74 will be paid at 4.50% of
and Variable Annuity premiums paid.
(ALL CHOICES EXCEPT OPTION E) [ ] OPTION 2 4.50% of premiums paid plus an annual trail commission
of .25% of the Reserve beginning in the 2nd year. Sales
of the contract to applicants over age 74 will be paid
at 3.50% of premium paid plus an annual trail
commission of .25% of the Reserve beginning in the 2nd
year.
[ ] OPTION 3 3.50% of premium paid plus an annual trail commission
of .50% of the reserve beginning in the 2nd year. Sales
of the contract to applicants over age 74 will be paid
at 2.50% of premium paid plus an annual trail
commission of .50% beginning in the 2nd year.
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B. VARIABLE ANNUITIES (CONTINUED) OPTION NUMBER OPTION DESCRIPTION
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Phoenix Income Choice - Individual [ ] OPTION 4 Certain Period % of Trails
Single Premium Immediate Fixed and (Years) Deposit (% of Reserve)
Variable Annuity -- OPTION E (f) -------------------------------------------------------
5-9 2.00% 0.00%
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10-14 3.50% 0.00%
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15-19 5.00% 0.00%
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20+ 5.50% 0.00%
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Phoenix Income Choice - Individual [ ] OPTION 5 Certain Period % of Trails
Single Premium Immediate Fixed and (Years) Deposit (% of Reserve)
Variable Annuity -- OPTION E (f) -------------------------------------------------------
5-9 1.25% 0.25%
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10-14 2.50% 0.25%
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15-19 4.00% 0.25%
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20+ 4.50% 0.25%
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Phoenix Income Choice - Individual [ ] OPTION 6 Certain Period % of Trails
Single Premium Immediate Fixed and (Years) Deposit (% of Reserve)
Variable Annuity -- OPTION E (f) -------------------------------------------------------
5-9 1.00% 0.50%
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10-14 1.75% 0.50%
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15-19 2.75% 0.50%
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20+ 3.00% 0.50%
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FOOTNOTES:
(a) First year commissions are NOT paid on premium charged for the following:
1. Temporary extras.
2. Aviation and other avocation hazards.
(b) Non-vested commissions are payable in those years in accordance with the Compensation Provisions in your contract.
(c) Sales of the contract to applicants over age 80 will be paid at 50% of the Commission Option(s) chosen. Trail commissions will
be paid at the full percentage amount as listed. If more than one option is chosen the Broker-Dealer agrees that its
representatives may select from the specified Commissions Options at the time a Contact is purchased.
(d) If the certain period is shortened under Payment Option E, the commission will be adjusted accordingly.
(e) e) For Phoenix Edge SVUL Option A, qualified plans only, the first year commission rate will be 70% up to the CTP. Commissions
in excess of the CTP will be 3 %
(f) For Phoenix Edge SVUL Option A, qualified plans only, a charge back of 10 % of the CTP will be applied if the face amount is
reduced below:
o 40 % of the initial base face amount in policy years 1 - 20
o 20% of the initial base face amount in policy years 21+
(g) NOTE: NOT ALL PRODUCTS ARE AUTHORIZED FOR ISSUANCE IN ALL JURISDICATIONS.
OL4112 Page 8 of 8 12-04
