ASSIGNMENT & DELEGATION OF ADMINISTRATIVE SERVICES
AGREEMENTS, UNDERWRITING AGREEMENTS, AND SELLING
AGREEMENTS
BETWEEN
ALFS, INC.
AND
ALLSTATE LIFE INSURANCE COMPANY, ALLSTATE LIFE INSURANCE
COMPANY OF NEW YORK, CHARTER NATIONAL LIFE INSURANCE
COMPANY, INTRAMERICA LIFE INSURANCE COMPANY, ALLSTATE
DISTRIBUTORS, LLC, ALLSTATE FINANCIAL SERVICES, LLC & LINCOLN
BENEFIT LIFE COMPANY,
This agreement (hereinafter "Agreement") entered into this __ day of ______,
2011 between ALFS, Inc. (hereinafter "ALFS") and Allstate Life Insurance
Company (hereinafter "XXXX"), Allstate Life Insurance Company of New York
(hereinafter "ALNY"), Allstate Distributors, LLC (hereinafter "ADLLC" ),
Charter National Life Insurance Company (hereinafter "Charter"), Intramerica
Life Insurance Company (hereinafter "Intramerica"), Allstate Financial
Services, LLC (hereinafter "AFS") and Lincoln Benefit Life Company (hereinafter
"LBL"). Collectively, ALFS, ALIC, ALNY, ADLLC, Charter, Intramerica, AFS, and
LBL shall be referenced herein as "the Parties."
WHEREAS, XXXX has decided, in order to streamline corporate structure,
enhance administrative simplicity, and better reflect XXXX'x business strategy,
to merge ALFS into ADLLC on or about April 29, 2011; and
WHEREAS, both ALFS and ADLLC are registered broker-dealers subject to the
jurisdiction of the Financial Industry Regulatory Authority ("FINRA"); and
WHEREAS, the merger must be submitted for review to FINRA; and
WHEREAS, the Parties have previously entered into various administrative
service agreements, principal underwriting agreements, selling agreements,
information sharing, and wholesaling agreements (collectively "Agreements"); and
WHEREAS, the Parties agree that XXXX should assign XXXX' rights and delegate
XXXX' duties to ADLLC under the Agreements; and
WHEREAS, XXXXX agrees to accept assignment of XXXX' rights and duties to
ADLLC under the Agreements; and
WHEREAS, the Parties agree that such assignment and delegation under the
Agreements should be documented,
NOW, THEREFORE, in consideration of the premises and mutual promises
contained herein the Parties hereto agree as follows:
I. AGREEMENTS: ASSIGNMENT & DELEGATION:
X. XXXX hereby assigns ALFS' rights and delegates XXXX' duties to ADLLC and
ADLLC accepts such assignment of rights and delegation of duties under the
Administrative Agreement between Allstate Life Insurance Company ("XXXX"),
XXXX, Inc. and Allstate Life Insurance Company of New York ("ALNY") dated
June 1, 1993, for the provision of personnel services and assumption of
financial and administrative responsibility by XXXX and ALNY. To the extent
that the contract contains anti-assignment or assignment/termination
provisions, such provisions are waived by this assignment or rights and
delegation of duties.
X. XXXX hereby assigns ALFS' rights and delegates ALFS' duties to ADLLC and
ADLLC accepts such assignment of rights and delegation of duties under the
Administrative Services Agreement between ALFS, Inc. and Allstate Life
Insurance Company, Lincoln Benefit Life Company and Charter National Life
Insurance Company (the "Companies") effective January 1, 2000, whereby the
Companies assume from ALFS financial and administrative responsibility for
expenses and services, including but not limited to rent of premises,
utilities, employee compensation (including taxes and benefits), computer
hardware/software, postage, printing, office supplies, telephone, travel,
financial, accounting, legal, regulatory, marketing and administrative services
in connection with the marketing and distribution by ALFS of certain variable
insurance contracts on behalf of the Companies. To the extent that the contract
contains anti-assignment or assignment/termination provisions, such provisions
are waived by this assignment of rights and delegation of duties.
X. XXXX hereby assigns ALFS' rights and delegates XXXX' duties to ADLLC and
ADLLC accepts such assignment of rights and delegation of duties under the
Administrative Services Agreement Administrative Services Agreement between
Allstate Life Insurance Company of New York ("ALNY") and ALFS, Inc. ("ALFS")
effective January 1, 2002, wherein ALFS will serve as an underwriter and
distributor of variable insurance contracts issued by ALNY. To the extent that
the contract contains anti-assignment or assignment/termination provisions,
such provisions are waived by this assignment of rights and delegation of
duties.
X. XXXX hereby assigns ALFS' rights and delegates XXXX' duties to ADLLC and
ADLLC accepts such assignment of rights and delegation of duties under the
Amended and Restated Principal Underwriting Agreement between Allstate Life
Insurance Company ("XXXX") and XXXX, Inc. ("ALFS") effective June 1, 2006,
wherein the Principal Underwriting Agreement between XXXX and XXXX effective
May 1, 1999, with respect to variable annuity contracts is amended and restated
concerning compensation. To the extent that the contract contains
anti-assignment or assignment/termination provisions, such provisions are
waived by this assignment of rights and delegation of duties.
X. XXXX hereby assigns XXXX' rights and delegates XXXX' duties to ADLLC and
ADLLC accepts such assignment of rights and delegation of duties under the
Amended and Restated Principal Underwriting Agreement between Lincoln Benefit
Life Company ("LBL") and ALFS, Inc. ("ALFS") effective June 1, 2006, wherein
the Principal Underwriting Agreement between LBL and XXXX effective
November 25, 1998, with respect to variable annuity contracts is amended and
restated by revising Schedule A. To the extent that the contract contains
anti-assignment or assignment/termination provisions, such provisions are
waived by this assignment of rights and delegation of duties.
X. XXXX hereby assigns ALFS' rights and delegates XXXX' duties to ADLLC and
ADLLC accepts such assignment of rights and delegation of duties under the
Principal Underwriting Agreement between Lincoln Benefit Life Company ("LBL")
and ALFS, Inc. (f/k/a Allstate Life Financial Services, Inc.) ("ALFS"),
effective November 25, 1998, that establishes ALFS as the principal underwriter
of LBL's variable universal life. To the extent that the contract contains
anti-assignment or assignment/termination provisions, such provisions are
waived by this assignment of rights and delegation of duties.
X. XXXX hereby assigns ALFS' rights and delegates XXXX' duties to ADLLC and
ADLLC accepts such assignment of rights and delegation of duties under the
Executive Wholesaling Agreement between Lincoln Benefit Life Company ("LBL")
and ALFS, Inc. ("ALFS") effective December 19, 2005, wherein LBL and XXXX
authorizes a third party to solicit sales of certain registered life insurance
and annuity contracts and to recommend the contracts to registered
representatives of such third parties. To the extent that the contract contains
anti-assignment or assignment/termination provisions, such provisions are
waived by this assignment of rights and delegation of duties.
X. XXXX hereby assigns ALFS' rights and delegates XXXX' duties to ADLLC and
ADLLC accepts such assignment of rights and delegation of duties under the
Information Sharing Agreement (the "Agreement") between Allstate Insurance
Company ("AIC") and certain affiliates, effective May 1, 2009, setting forth
the terms and conditions under
which customer information, owned by a party to the Agreement, may be accessed
for marketing purposes by another party to the Agreement in order to comply
with certain provisions of The Fair and Accurate Credit Transaction Act of
2003. To the extent that the contract contains anti-assignment or
assignment/termination provisions, such provisions are waived by this
assignment of rights and delegation of duties.
X. XXXX hereby assigns ALFS' rights and delegates ALFS' duties to ADLLC and
ADLLC accepts such assignment of rights and delegation of duties under the
Investment Management Agreement among Allstate Investments, LLC ("AILLC"),
Allstate Insurance Company, The Allstate Corporation and certain of its
non-insurance and insurance subsidiaries (collectively, the "Allstate
Affiliates") effective January 1, 2007, (the "Agreement") whereby AILLC will
render investment management services and advice to the Allstate Affiliates. To
the extent that the contract contains anti-assignment or assignment/termination
provisions, such provisions are waived by this assignment of rights and
delegation of duties.
X. XXXX hereby assigns ALFS' rights and delegates XXXX' duties to ADLLC and
ADLLC accepts such assignment of rights and delegation of duties under the
Marketing Agreement between Allstate Life Insurance Company, in its capacity as
successor in interest to Glenbrook Life and Annuity Company ("XXXX"), XXXX,
Inc. ("ALFS") and Allstate Financial Services, LLC ("AFS") effective June 10,
2003, wherein XXXX and XXXX authorize AFS to solicit sales of certain insurance
products and group and individual insurance contracts/policies and certificates
participating therein. To the extent that the contract contains anti-assignment
or assignment/termination provisions, such provisions are waived by this
assignment of rights and delegation of duties.
X. XXXX hereby assigns ALFS' rights and delegates XXXX' duties to ADLLC and
ADLLC accepts such assignment of rights and delegation of duties under the
Master Wholesaling Agreement between Lincoln Benefit Life Company ("LBL") and
ALFS, Inc. ("ALFS") effective December 16, 2005, wherein LBL and XXXX
authorizes a third party to solicit sales of certain registered life insurance
and annuity contracts and to recommend the contracts to registered
representatives of such third parties. To the extent that the contract contains
anti-assignment or assignment/termination provisions, such provisions are
waived by this assignment of rights and delegation of duties.
X. XXXX hereby assigns ALFS' rights and delegates XXXX' duties to ADLLC and
ADLLC accepts such assignment of rights and delegation of duties under the
Principal Underwriting Agreement between Allstate Life Insurance Company
("XXXX") and XXXX, Inc. ("ALFS") effective January 1, 2005, (the "Agreement"),
wherein XXXX grants to ALFS the right to be and XXXX agrees to serve as
Principal Underwriter for the sale of variable insurance products and other
insurance and investment products during the term of the Agreement. To the
extent that the contract contains anti-assignment or
assignment/termination provisions, such provisions are waived by this
assignment of rights and delegation of duties.
X. XXXX hereby assigns ALFS' rights and delegates XXXX' duties to ADLLC and
ADLLC accepts such assignment of rights and delegation of duties under the
Selling Agreement (the "Agreement") between Lincoln Benefit Life Company
("LBL"), ALFS, Inc. and Allstate Financial Services, LLC ("AFS") effective
August 2, 1999, whereby AFS will train and perform certain administrative
responsibilities and duties in connection with sales of certain variable
insurance contracts/policies as reflected in the Agreement. To the extent that
the contract contains anti-assignment or assignment/termination provisions,
such provisions are waived by this assignment of rights and delegation of
duties.
X. XXXX hereby assigns ALFS' rights and delegates XXXX' duties to ADLLC and
ADLLC accepts such assignment of rights and delegation of duties under the
Selling Agreement between Allstate Life Insurance Company of New York ("ALNY"),
ALFS, Inc. ("ALFS"), and Allstate Financial Services, LLC ("AFS") effective
May 1, 2005, wherein ALFS, as appointed by XXXX, is the underwriter of certain
insurance products and group and individual insurance contracts/policies and
certificates participating therein (the "Contracts"), and AFS will solicit
sales of the Contracts on behalf of ALFS. To the extent that the contract
contains anti-assignment or assignment/termination provisions, such provisions
are waived by this assignment of rights and delegation of duties.
X. XXXX hereby assigns ALFS' rights and delegates XXXX' duties to ADLLC and
ADLLC accepts such assignment of rights and delegation of duties under the
Selling Agreement among Allstate Life Insurance Company ("XXXX"), XXXX, Inc.
(f/k/a Allstate Life Financial Services, Inc.) ("ALFS") and Allstate Financial
Services, LLC (f/k/a LSA Securities, Inc.) ("AFS") effective July 26, 1999,
pursuant to which XXXX and XXXX authorize AFS to supervise solicitations of
certain variable contracts/policies by AFS' registered representatives who are
licensed insurance agents. To the extent that the contract contains
anti-assignment or assignment/termination provisions, such provisions are
waived by this assignment of rights and delegation of duties.
X. XXXX hereby assigns ALFS' rights and delegates XXXX' duties to ADLLC and
ADLLC accepts such assignment of rights and delegation of duties under the
Underwriting Agreement among Allstate Life Insurance Company ("XXXX") and
Allstate Financial Advisors Separate Account I ("Separate Account") and ALFS,
Inc. (f/k/a Allstate Life Financial Services, Inc.) ("ALFS") effective July 26,
1999, pursuant to which XXXX agrees to serve as principal underwriter and
distributor on an agency basis
for variable insurance contracts which will be issued by XXXX through the
Separate Account. To the extent that the contract contains anti-assignment or
assignment/termination provisions, such provisions are waived by this
assignment of rights and delegation of duties.
X. XXXX hereby assigns ALFS' rights and delegates XXXX' duties to ADLLC and
ADLLC accepts such assignment of rights and delegation of duties under the
Underwriting Agreement between Allstate Life Insurance Company of New York and
ALFS, Inc. (f/k/a Allstate Life Financial Services, Inc.) effective October 1,
1996, regarding the marketing and distribution of designated variable annuity
insurance products. To the extent that the contract contains anti-assignment or
assignment/termination provisions, such provisions are waived by this
assignment of rights and delegation of duties.
X. XXXX hereby assigns ALFS' rights and delegates XXXX' duties to ADLLC and
ADLLC accepts such assignment of rights and delegation of duties under the
Underwriting Agreement between Allstate Life Insurance Company, in its capacity
as successor in interest to Glenbrook Life and Annuity Company, and ALFS, Inc.
(f/k/a Allstate Life Financial Services, Inc.) ("ALFS") executed May 23, 1997,
and effective January 1, 1997, regarding the distribution of variable life
insurance contracts. The agreement establishes ALFS as the underwriter for
products that require a registered broker-dealer to act as the principal
underwriter. To the extent that the contract contains anti-assignment or
assignment/termination provisions, such provisions are waived by this
assignment of rights and delegation of duties.
X. XXXX hereby assigns ALFS' rights and delegates XXXX' duties to ADLLC and
ADLLC accepts such assignment of rights and delegation of duties under the
Underwriting Agreement between Allstate Life Insurance Company, in its capacity
as successor in interest to Glenbrook Life and Annuity Company, and ALFS, Inc.
(f/k/a Allstate Life Financial Services, Inc.) ("ALFS") executed May 23, 1997,
and effective January 1, 1997, regarding the distribution of variable annuity
products. The agreement establishes ALFS as the underwriter for products that
require a registered broker-dealer to act as the principal underwriter. To the
extent that the contract contains anti-assignment or assignment/termination
provisions, such provisions are waived by this assignment of rights and
delegation of duties.
X. XXXX hereby assigns ALFS' rights and delegates XXXX' duties to ADLLC and
ADLLC accepts such assignment of rights and delegation of duties under the
Selling Agreement (the "Agreement") and Addenda to the Agreement between
Allstate Life Insurance Company, in its capacity as successor in interest to
Glenbrook Life and Annuity Company ("XXXX"), XXXX, Inc. ("ALFS") and Allstate
Financial Services, LLC ("AFS") effective May 17, 2001, December 31, 2001, and
November 18, 2002, respectively, wherein XXXX and XXXX desire to authorize AFS
to solicit sales of certain
insurance products and group and individual insurance contracts/policies and
certificates participating therein. To the extent that the contract contains
anti-assignment or assignment/termination provisions, such provisions are
waived by this assignment of rights and delegation of duties.
X. XXXX hereby assigns ALFS' rights and delegates XXXX' duties to ADLLC and
ADLLC accepts such assignment of rights and delegation of duties under the
Administrative Services Agreement between Intramerica Life Insurance Company
("Intramerica") and ALFS, Inc. ("ALFS") effective January 1, 2002, wherein ALFS
will serve as an underwriter and distributor of variable insurance contracts
issued by Intramerica. Intramerica will assume financial and administrative
responsibility for the expenses and services incurred by XXXX in connection
with the contracts. To the extent that the contract contains anti-assignment or
assignment/termination provisions, such provisions are waived by this
assignment of rights and delegation of duties.
II. MISCELLANEOUS
_____________
A. No amendment to this Agreement shall be effective unless made in writing and
executed by the Parties thereto.
B. ADLLC's duties and obligations under any other agreement not specifically
listed herein shall be deemed to have been assigned and delegated from ALFS to
ADLLC and accepted by ADLLC.
C. Should any provision of this Agreement be held unenforceable, those
provisions not affected by the determination of unenforceability shall remain
in full force and effect.
D. This Agreement will be construed in accordance with the laws of the State of
Illinois
E. This Agreement may be executed by the Parties in counterparts, each of which
shall be deemed an original.
F. The descriptive headings of this Agreement are intended for reference only
and will not affect the construction or interpretation of this Agreement
IN WITNESS WHEREOF the Parties have caused this Agreement to be executed by
their duly authorized officers on the date first above written.
ALLSTATE LIFE INSURANCE COMPANY
By: -----------------------------
Title: -----------------------------
Date: -----------------------------
ALLSTATE DISTRIBUTORS, LLC
By: -----------------------------
Title: -----------------------------
Date: -----------------------------
ALFS, INC.
By: -----------------------------
Title: -----------------------------
Date: -----------------------------
ALLSTATE LIFE INSURANCE COMPANY OF
NEW YORK
By: -----------------------------
Title: -----------------------------
Date: -----------------------------
CHARTER NATIONAL LIFE INSURANCE
COMPANY
By: -----------------------------
Title: -----------------------------
Date: -----------------------------
INTRAMERICA LIFE INSURANCE COMPANY
By: -----------------------------
Title: -----------------------------
Date: -----------------------------
LINCOLN BENEFIT LIFE COMPANY
By: -----------------------------
Title: -----------------------------
Date: -----------------------------
ALLSTATE FINANCIAL SERVICES, LLC
By: -----------------------------
Title: -----------------------------
Date: -----------------------------
