EXHIBIT 1O(J)(6)
AMENDMENT FIVE TO
ADMINISTRATIVE SERVICES AGREEMENT
THIS FIFTH AMENDMENT TO THE ADMINISTRATIVE SERVICES AGREEMENT is entered into
this 19th day of November, 2002, and effective as indicated herein, by and
between TRANSAMERICA LIFE INSURANCE AND ANNUITY COMPANY, hereinafter referred to
as "Transamerica," a North Carolina corporation, and LEGACY MARKETING GROUP,
hereinafter referred to as "LMG," a California corporation.
WHEREAS, Transamerica and LMG entered into an Administrative Services Agreement,
dated May 29, 1998, as amended, hereinafter referred to as the "Agreement,"
wherein LMG agreed to provide certain Transamerica accounting and service
functions in consideration of the fees as set forth in APPENDIX B of the
Agreement.
NOW, THEREFORE, in consideration of the foregoing recitals and mutual promises
hereinafter contained and other good and valuable consideration, the parties
hereto do agree as follows:
1. Add to APPENDIX A, Policy Forms, as follows:
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Product Name Policy Form Numbers Effective Dates
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*
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* * *
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* * *
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* * *
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2. Appendix B, "Processing Fees," Section 2, is hereby amended to read as
follows:
"2. Agent Appointment and Termination: * per agent appointment per
state; * per agent termination per state, effective July 1, 2002."
3. Appendix C, "Services to be Provided, Section 1 Services, Clerical
Processing of Agent Appointment and Termation with States" is hereby
amended to read as follows:
Clerical Processing of Agent Appointment and Termination with States
Appointment
1. Review signed Producer Agreement for completeness and accuracy,
input agent information into LCS system (LMG agent database).
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2. Conduct Background Investigation on Producer, including credit
report, NAIC RIRS inquiry, Vector Check, state licensing check
(in all States in which Producer requests appointment), criminal
check, and past employment check.
3. If Producer meets LMG/Transamerica hiring criteria, complete and
mail all state required appointment forms or electronic
transmission of appointment data to state.
4. Depending on state criteria, once appointment is effective, input
appointment information into LCS system for renewal tracking, new
business processing and weekly transmission to carrier.
Termination
1. LMG will complete the contract termination for a Producer with
Transamerica. LMG will update their database and mail to the
Producer a letter communicating the Contract termination. LMG
will send the Contract Termination letter to Transamerica C&L.
Transamerica will determine if a state(s) Appointment termination
is required. If Transamerica terminates the producer state(s)
appointment Transamerica will send a letter informing the
producer and will copy LMG.
2. Update LCS with appropriate appointment termination into LCS
system to prohibit new business processing. Weekly transmission
of agent termination information to carrier.
Appointment Renewal Processing
1. LMG will forward to Transamerica within three (3) business days
of a written request by Transamerica any Producer address that is
required to be provided to a regulatory agency."
4. Appendix D, "Schedule of Authorized Personnel," is hereby amended to
read as follows:
Representing Transamerica
"Authorized to modify this Agreement
*
*
*
*
Authorized to provide day to day direction of LMG employees for items
not covered in this Agreement
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*
*
*
*
Representing Legacy Marketing Group
Xxxxx X. Xxxxx, Chief Executive Officer
R. Xxxxxxx Xxxxx, President
Xxxxx Xxxxxx, Chief Financial Officer
Xxx Xxxx, Vice President of Marketing"
5. All other provisions in the Agreement not specifically amended above
remain in effect and unchanged.
IN WITNESS HEREOF, the parties have hereto executed this Agreement.
LEGACY MARKETING GROUP
By: /s/ Xxx Xxxx
Title: Vice President
Date: November 21, 2002
Witness: /s/ Xxxxxx Xxxxxxxx
TRANSAMERICA LIFE INSURANCE AND ANNUITY COMPANY
By: /s/ Xxx Xxxxxxx
Title: Vice President
Date: November 25, 2002
Witness: /s/ Xxxxxxxx Xxxxx
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