FIRST AMENDMENT
TO
GENERAL AGENT SALES AGREEMENT
FIRST AMENDMENT TO DISTRIBUTION AGREEMENT, dated as of June 6, 2005, by
and between MONY LIFE INSURANCE COMPANY ("MONY Life"), a New York life insurance
company ("MONY") and AXA DISTRIBUTORS, LLC ("ADL") and the subsidiaries thereof
executing this Agreement (collectively with ADL, the "Distributor").
MONY Life and Distributor modify and amend the Distribution Agreement
dated as of April 1, 2005 between them (the "Sales Agreement") from and after
the date hereof to add MONY annuity products and additional MONY life insurance
products to the schedule of insurance products is authorized to distribute
thereunder by deleting Exhibit A in its entirety and substituting in its place
the schedules attached hereto as Exhibit A, Schedule 1; Exhibit A, Schedule 2
and Exhibit A, Schedule 3.
Except as modified and amended hereby, the Sales Agreement is in full
force and effect.
IN WITNESS WHEREOF, the parties hereto have caused this First Amendment
to Distribution Agreement to be duly executed and delivered as of the day and
year first above written.
MONY LIFE INSURANCE COMPANY AXA DISTRIBUTORS, LLC
AXA DISTRIBUTORS INSURANCE AGENCY
By: _________________________ OF ALABAMA, LLC
Xxxxxxx X. Xxxxx AXA DISTRIBUTORS INSURANCE
Vice Chairman and AGENCY, LLC.
Chief Financial Officer AXA DISTRIBUTORS INSURANCE AGENCY
OF MASSACHUSETTS, LLC.
AXA DISTRIBUTORS INSURANCE AGENCY
OF TEXAS, INC.
By: ___________________________
Xxxxx Xxxxx
Senior Vice President
EXHIBIT A
Schedule 1
Compensation for Sales and Servicing of Life Insurance Products
This Schedule 1 of Exhibit A is attached to and made part of the Wholesale
Distribution Agreement dated April 1, 2005 by and between MONY Life Insurance
Company and AXA Distributors, LLC et al.
Compensation to Distributor in connection with the sale and servicing of the
MONY Life insurance products listed below 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 Distributor in respect of the sale and servicing of each product
will be a percentage of the premiums received by MONY Life in respect of such
product as more particularly set forth in the following table:
--------------------------------- --------------- ------------- -------------- -------------- -------------- -------------
First Year
Premiums First Year Renewal Asset
Scheduled Premiums Renewal Renewal Premiums Based
or up to over Premiums Premiums Years Compen-
Product Target Target Year 2 Year 3 4-10 sation
--------------------------------- --------------- ------------- -------------- -------------- -------------- -------------
10 Year Level Term Life 99.0% N/A 8.5% 2.5% 2.5% 0.0%
---------------------------------- --------------- ------------- -------------- -------------- -------------- -------------
15 Year Level Term Life 99.0% N/A 18.5% 2.5% 2.5% 0.0%
---------------------------------- --------------- ------------- -------------- -------------- -------------- -------------
20 Year Level Term Life 99.0% N/A 18.5% 2.5% 2.5% 0.0%
---------------------------------- --------------- ------------- -------------- -------------- -------------- -------------
30 Year Level Term Life 99.0% N/A 18.5% 2.5% 2.5% 0.0%
---------------------------------- --------------- ------------- -------------- -------------- -------------- -------------
Other Term Life Insurance 99.0% N/A 18.5% 2.5% 2.5% 0.0%
Products
---------------------------------- --------------- ------------- -------------- -------------- -------------- -------------
Interest Sensitive Whole 99.0% 3.5% 15.0% 15.0% 3.5% 0.0%
Life
---------------------------------- --------------- ------------- -------------- -------------- -------------- -------------
Variable Universal Life 99.0% 4.0% 15.0% 15.0% 3.5% 0.0%
---------------------------------- --------------- ------------- -------------- -------------- -------------- -------------
Group UL (MCB 1 &3) 99.0% 4.0% 4.0% 4.0% 4.0% 0.0%
---------------------------------- --------------- ------------- -------------- -------------- -------------- -------------
Private Placement Single 0.0% 0.0% 0.0% 0.0% 0.0% 0.30%
Premium VUL
---------------------------------- --------------- ------------- -------------- -------------- -------------- -------------
Other Permanent Life 99.0% 4.0% 5.0% 5.0% 5.0% 0.0%
Products
---------------------------------- --------------- ------------- -------------- -------------- -------------- -------------
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EXHIBIT A
Schedule 2
Compensation for Sales and Servicing of Annuity Products
This Schedule 2 of Exhibit A is attached to and made part of the Wholesale
Distribution Agreement dated April 1, 2005 by and between MONY Life Insurance
Company and AXA Distributors, LLC et al.
Compensation to Distributor in connection with the sale and servicing of the
MONY Life insurance products listed below 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 Distributor in respect of the sale and servicing of each product
will be a percentage of the premiums received by MONY Life in respect of such
product as more particularly set forth in the following table:
Commissions on Non-Variable Annuities:
Type of Consideration Percentage
--------------------- ----------
First Contract Year 8.5%
Renewal Years 8.5%
Commissions on Variable Annuities:
Type of Consideration Percentage
--------------------- ----------
First Contract Year 6.5%
Renewal Years 6.5%
Fund Based Trails 25 basis points
------------------ beginning in 2nd contract year
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EXHIBIT A
Schedule 3
Compensation for Sales and Servicing of Disability Products
This Schedule 3 of Exhibit A is attached to and made part of the Wholesale
Distribution Agreement dated April 1, 2005 by and between MONY Life Insurance
Company and AXA Distributors, LLC et al.
Compensation to the General Agent in connection with the sale and servicing of
all disability insurance policies will be calculated on a contract by contract
and policy by policy basis. Total compensation to the General Agent in respect
of the sale and servicing of each health insurance contract or policy will be a
percentage of the premiums received by MONY Life as more particularly set forth
in the following table:
Type of Contract or Policy Percentage
-------------------------- ----------
Disability Income Policies
First Year Premiums 20.0%
Renewal Year Premiums 6.0%
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