SECOND AMENDMENT
TO
GENERAL AGENT SALES AGREEMENT
SECOND AMENDMENT TO GENERAL AGENT SALES AGREEMENT dated as of January
1, 2004 by and between THE EQUITABLE LIFE ASSURANCE SOCIETY OF THE UNITED STATES
("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").
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") to include Equitable Incentive Life COLI '04 (Policy Form
Number 03-400 or State Variation) as one of the Products which the General Agent
is authorized to distribute pursuant to the Agreement and to establish the
compensation due and payable by Equitable to the General Agent in connection
with the sale and servicing of COLI '04 as more particularly set forth in the
Amended and Restated Schedules 1 of Exhibit A attached hereto and made a part
hereof.
Except as modified and amended hereby, the Sales Agreement is in full force and
effect.
IN WITNESS WHEREOF, the parties hereto have caused this Second
Amendment to General Agent Sales Agreement to be duly executed and delivered as
of the day and year first above written.
THE EQUITABLE LIFE ASSURANCE AXA NETWORK, LLC
SOCIETY OF THE UNITED STATES AXA NETWORK OF ALABAMA, LLC
AXA NETWORK OF CONNECTICUT,
By:_________________________ MAINE AND NEW YORK, LLC
Xxxxxxx X. Xxxxx AXA NETWORK INSURANCE
Vice Chairman and AGENCY OF MASSACHUSETTS, LLC
Chief Financial Officer AXA NETWORK OF PUERTO RICO, INC.
AXA NETWORK INSURANCE AGENCY
OF TEXAS, INC.
By:___________________________
Xxxxxx X. Xxxxx
President - Retail Division
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EXHIBIT A
AMENDED AND RESTATED SCHEDULE 1
EFFECTIVE AS OF JANUARY 1, 2004
GENERAL AGENT COMPENSATION FOR LIFE INSURANCE SALES AND SERVICING
This Amended and Restated Schedule 1 of Exhibit A is effective as of January 1,
2004 and is attached to and made part of the General Agent Sales Agreement dated
January 1, 2000 by and between The Equitable Life Assurance Society of the
United States and AXA Network, LLC.
Compensation to the General Agent in connection with the sale and servicing of
life insurance policies will be calculated on a policy by policy 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. Total
compensation to the General Agent in respect of the sale and servicing of each
life insurance policy will be a percentage of the premiums received by Equitable
in respect of such policy as more particularly set forth in the following
tables:
Commissions on Variable Life Insurance Products other than COLI `04
Type of Premium Percentage
--------------- ----------
First Policy Year
Qualifying First Year Premiums up to Target 99.0%
Excess Premiums 8.5%
Renewals 11.0%
Commissions on COLI `04
Type of Premium Percentage
--------------- ----------
First Policy Year
Qualifying First Year Premiums up to Target 50.0%
Excess Premiums 10%
Renewals 11.0%
Page 1 of 2
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EXHIBIT A
AMENDED AND RESTATED SCHEDULE 1
EFFECTIVE AS OF JANUARY 1, 2004
(Continued)
Commissions on Non-Variable Life Insurance Products
Type of Premium Percentage
--------------- ----------
First Policy Year
Scheduled Premiums 99.0%
Qualifying First Year Premiums up to Target 99.0%
Excess Premiums 8.5%
Renewal Years 8.0%
Page 2 of 2
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