SEVENTH AMENDMENT
TO
GENERAL AGENT SALES AGREEMENT
SEVENTH AMENDMENT TO GENERAL AGENT SALES AGREEMENT dated as of February
15, 2008 by and between AXA EQUITABLE LIFE INSURANCE COMPANY ("AXA Equitable"),
a New York stock life insurance company, having offices at 0000 Xxxxxx xx xxx
Xxxxxxxx, Xxx Xxxx, Xxx Xxxx 00000, and AXA NETWORK, LLC, a Delaware limited
liability company having offices at 0000 Xxxxx Xxxx Xxxx, Xxxxxxxxxx,
Xxxxxxxxxxxx 00000 and the AXA Network subsidiaries executing this Agreement
below (collectively, the "General Agent").
AXA Equitable and the General Agent hereby modify and amend the General
Agent Sales Agreement dated as of January 1, 2000 between them, as previously
amended (the "Sales Agreement") by restating Schedule 3 of Exhibit A of the
Sales Agreement in its entirety as of the date hereof as more particularly set
forth on the restated Schedule 3 attached hereto to reduce compensation on sales
of AXA Equitable's new "at retirement" Group Variable Annuity product
tentatively named "Crossings" (Master Contract, 2007IFLMC(NY) and state
variation) from 8.5% as currently provided therein to 6% for all issue ages.
Except as modified and amended hereby, the Sales Agreement is in full
force and effect.
IN WITNESS WHEREOF, the parties hereto have caused this Seventh
Amendment to General Agent Sales Agreement to be duly executed and delivered as
of the day and year first above written.
AXA EQUITABLE LIFE INSURANCE AXA NETWORK, LLC
COMPANY AXA NETWORK OF CONNECTICUT,
MAINE AND NEW YORK, LLC
AXA NETWORK OF PUERTO RICO, INC.
By: /s/ Xxxxxxx Xxxxxxxx AXA NETWORK INSURANCE AGENCY
------------------------ OF TEXAS, INC.
Xxxxxxx Xxxxxxxx
Executive Vice President and
Chief Financial Officer By: /s/ Xxxxxx XxXxxxx
---------------------------
Xxxxxx XxXxxxx
Chairman of the Board
EXHIBIT A
AMENDED AND RESTATED SCHEDULE 3
EFFECTIVE AS OF February 15, 2008
General Agent Compensation
for
Individual Qualified and Non-Qualified Annuity Sales and Servicing
This Amended and Restated Schedule 3 of Exhibit A is effective as of the
effective date set forth above and is attached to and made part of the Seventh
Amendment to General Agent Sales Agreement dated as of the same date by and
between AXA Equitable Life Insurance Company and AXA Network, LLC, et al.
Compensation to the General Agent in connection with the sale and servicing of
all annuity contracts other than tax qualified periodic premium annuity
contracts will be calculated on a contract by contract and certificate by
certificate basis. Compensation paid hereunder will be allocated to commissions
and expense allowances as the parties may from time to time agree consistent
with the provisions of Section 4228 of the New York State Insurance Law. From
and after the effective date set forth above, total compensation to the General
Agent in respect of the sale and servicing of each such annuity contract or
certificate, other than Accumulator Advisor contracts, issued on or after the
above effective date, will be a percentage of the consideration received by AXA
Equitable in respect of such contract or certificate as more particularly set
forth in the following table:
Type of Consideration Percentage
--------------------- ----------
"Crossings" Group Variable Annuity
(Master Contract, 2007IFLMC(NY) and
state variation):
First Policy Year 6.0%
Renewal Years 6.0%
All annuity contracts other than tax qualified periodic
premium annuity contracts and Accumulator Advisor
contracts:
First Policy Year 8.5%
Renewal Years 8.5%
No compensation will be paid to the General Agent in respect of the sale and
servicing of Accumulator Advisor contracts.
