EXHIBIT 3(c)
AMENDMENT NO. 1 TO DISTRIBUTION AGREEMENT
EXHIBIT 3(c)
AMENDMENT NO. 1 TO DISTRIBUTION AGREEMENT
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The AGREEMENT dated as of __ , 1995 by and between INDIANAPOLIS LIFE
INSURANCE COMPANY (as successor to IL Annuity and Insurance Company), an Indiana
life insurance company, on its behalf and on behalf of each separate account
identified in the attached Schedule 1, and IL SECURITIES, INC., an Indiana
corporation, is hereby amended effective as of June 30, 2003, as follows:.
1. All references to IL Annuity and Insurance Company are hereby changed to
"Indianapolis Life Insurance Company" to reflect the statutory merger of IL
Annuity and Insurance Company with and into the Insurer.
2. Section 11.d. is hereby deleted in its entirety and replaced with the
following Section 11.d:
d. Notices. All notices hereunder are to be made in writing and shall
be given:
if to Insurer, to: Xxxxxxx X. Xxxxxx
Vice President
Indianapolis Life Insurance Company
000 Xxxxx Xxxxxx Xxxxxx
Xxxxxx, XX 00000
and
Xxxxx Xxxxxx
Ameritas Life Insurance Corp.
0000 X Xxxxxx
Xxxxxxx, XX 00000
if to Distributor: President
IL Securities, Inc.
0000 X. Xxxxxxxx Xxxxxx
Xxxxxxxxxxxx, XX 00000
3. Schedule 1 is hereby deleted and replaced with the attached Schedule 1.
4. Schedule 2 is hereby deleted and replaced with the attached Schedule 2.
All other provisions in the Agreement not specifically amended above remain in
effect and unchanged.
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IN WITNESS WHEREOF, the parties hereto have caused this Amendment to the
Agreement to be duly executed by such authorized officers as of June 30, 2003.
IL SECURITIES, INC. INDIANAPOLIS LIFE INSURANCE COMPANY
By By
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Name Name
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Title Title
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SCHEDULE 1
ILICO Separate Account 1
The Visionary: Flexible Premium Deferred Variable Annuity
The Visionary Choice: Flexible Premium Deferred Variable Annuity
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SCHEDULE 2
COMPENSATION
Indianapolis Life Insurance Company shall pay IL Securities, Inc. a concession
on all contracts sold by it or by Selling Broker-Dealers to whom it has
authorized to participate in the sale of the contracts.
Indianapolis Life Insurance Company shall, on behalf of IL Securities, Inc., pay
to Broker-Dealer and concession on each Contract for which the Broker-Dealer is
the Broker-of-Record. The concession shall be determined in accordance with the
Compensation Schedule attached to and made a part of the Selling Broker's
Selling Agreement.
Concessions payable to IL Securities shall be determined in accordance with this
Schedule.
1. Sales by IL Securities:
a. Concession Schedule for the Visionary and Visionary Choice. IL
Securities may select one of the following Options for each
Agent. Once an Option is selected for an Agent it may not be
changed and the Option is applicable for each and every
contract on which that Agent is the writing Agent.
NEW PREMIUM ASSET TRAIL
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YEARS 1-9 YEARS 10+ ALL YEARS
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Option A 6.00% 1.00% -0-
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Option B 4.75% 1.00% 0.25%
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Option C 3.50% 1.00% 0.50%
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Option D 1.00% 1.00% 1.00%
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Asset trails concessions are paid on the value of a Contract as of
its contract anniversary day.
b. Concessions on Withdrawn Premium. IL Securities will repay all
concession paid on premiums which were withdrawn or removed
from a Contract within 12 months of the date of the premium
payment.
c. Concessions on Replacements. Concession on a Contract which
replaces an existing contract issued by Indianapolis Life
Insurance Company (or any of its affiliated companies) shall
be paid as follows:
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1. The concession on premium paid in excess of the cash
surrender value of the existing contract will be
payable at the first year rate.
2. The concession on premiums equal to the excess of the
cash surrender value of the existing contract will be
payable at the rate for year 10.
Replacement is defined as the issue of a new contract where an
existing contract(s) is (are) surrendered within one year of the
issue of the new contract.
2. Sales by Selling Broker-Dealers.
NEW PREMIUM
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Years 1-10 Years 10+
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1.00% .15%
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