AMENDMENT No. 2
to the
AGREEMENT
between
HARTFORD LIFE INSURANCE COMPANY
and
BANC OF AMERICA CAPITAL MANAGEMENT, LLC
THIS AMENDMENT is made and entered into as of the 1st day of May, 2003, by
and among Hartford Life Insurance Company, a Connecticut life insurance company
having a business address of 000 Xxxxxxxxx Xxxxxx, Xxxxxxxx, Xxxxxxxxxxx 00000
("HL") and Banc of America Capital Management, LLC (successor to Bank of America
Advisors, LLC, formerly, NationsBanc Advisors, Inc.), a North Carolina limited
liability company with executive offices at 000 Xxxxx Xxxxx Xxxxxx, Xxxxxxxxx,
Xxxxx Xxxxxxxx 00000 ("Advisors").
WHEREAS, HL and Advisors have conducted business with each other pursuant to an
agreement dated March 13, 1998, as amended by Amendment No. 1 dated May 1, 2002
(the "Agreement") concerning the development and marketing of certain variable
annuity contracts and subsequent versions thereof (the "Contracts"); and
WHEREAS, HL and Advisors wish to amend the Agreement for the purpose of (i)
adding Series II of Nations Outlook variable annuity and Series III of Nations
variable annuity to the Contracts covered by the Agreement and (ii) clarifying
the terms of the Agreement with respect to Series II of Nations Outlook variable
annuity and Series III of Nations variable annuity.
NOW, THEREFORE, in consideration of the mutual promises contained herein and
past and prospective business relations, HL and Advisors hereby amend the
Agreement as follows:
1. Effective as of May 1, 2003, Series II of Nations Outlook variable annuity,
and Series III of Nations variable annuity are added to the Contracts
covered by the Agreement. HL and Advisors agree that the Contracts that are
and have been covered by the Agreement are as follows: Series I, Series II,
Series II-R and Series III of Nations variable annuity, and Series I and
Series II of Nations Outlook variable annuity.
2. HL reserves the right to eliminate or modify any enhanced interest rate
dollar cost averaging programs under Series I and/or Series II of Nations
Outlook variable annuity. Notwithstanding anything in the Agreement to the
contrary, HL and Advisors agree that Series I and Series II of Nations
Outlook variable annuity shall be included for purposes of the Compensation
Adjustment Payment only if HL eliminates such dollar cost averaging
programs.
3. HL and Advisors agree that the persistency bonus described in Exhibit B to
the Agreement shall continue to apply only with respect to Series I, Series
11, Series II-R. and Series III of Nations variable annuity.
4. In all other respects, the terms of the Agreement remain in full force and
effect.
IN WITNESS WHEREOF, the Advisors and HL have executed this Amendment to be
effective as of the first date written above.
BANC OF AMERICA CAPITAL HARTFORD LIFE INSURANCE COMPANY
MANAGEMENT, LLC
By: /s/ Xxxxxx X. Xxxxxx By: /s/ Xxxxxxx X. Xxxxxx
--------------------------------- ------------------------------------
Name: Xxxxxx X. Xxxxxx Name: Xxxxxxx X. Xxxxxx
Title: Managing Director & Chief Title: Vice President
Administrative Officer
