AMENDMENT
to the
DISTRIBUTOR AGREEMENT
Pursuant to the Distributor Agreement, made and entered into as of the
24th day of August, 1999, by and among Columbus Life Insurance Company and
Touchstone Securities, Inc. with its affiliated insurance agencies, the parties
hereby agree to an amended and restated Schedule A as attached hereto, and to an
amended and restated alternate form of Schedule A for use with selected
broker-dealers, as attached hereto.
IN WITNESS WHEREOF, each of the parties hereto has caused this
Amendment to the Distributor Agreement to be executed in its name and on its
behalf by its duly authorized representative. The Amendment shall take effect on
May 1, 2005.
COLUMBUS LIFE INSURANCE COMPANY TOUCHSTONE SECURITIES, INC.
By: By:
----------------------------------------- -----------------------------------
Name: Xxxx X. Xxxxxxxxx Name: Xxxxx X. Xxxxx
Title: Senior Vice President & Chief Title: President
Marketing Officer
COLUMBUS LIFE INSURANCE COMPANY W & S FINANCIAL GROUP DISTRIBUTORS, INC.
By: By:
----------------------------------------- --------------------------------
Name: Xxxxxxxx X. Xxxxx Name: Xxxx X. XxXxxxxx
Title: President & Chief Executive Officer Title: President
SCHEDULE A
STANDARD
COMMISSION SCHEDULE
COLUMBUS LIFE VARIABLE UNIVERSAL LIFE (policy series CL 72 9908)
POLICY YEAR % OF PREMIUM % OF END OF POLICY YEAR
UNLOANED ACCOUNT VALUE
Year 1 90% of target; 3%* of excess 0%
Years 2 - 10 3% .25%
Years 11 - 16 1% .25%
Years 17+ 1% 0%
*0% on any amount of first year premium in excess of $500 per $1,000 of
Specified Amount
Chargeback Scale:
--------------------------------------------- ---------- --------- ---------- ---------- --------- ---------- ---------
# of completed months in force 0-6 7 8 9 10 11 12+
--------------------------------------------- ---------- --------- ---------- ---------- --------- ---------- ---------
% of commissions recovered 100% 95% 90% 80% 60% 30% 0%
--------------------------------------------- ---------- --------- ---------- ---------- --------- ---------- ---------
PINNACLE VARIABLE UNIVERSAL LIFE (policy series CL 75 0101)
POLICY YEAR % OF PREMIUM % OF END OF POLICY YEAR
UNLOANED ACCOUNT VALUE
Year 1 90% of target; 3% of excess 0%
Years 2 - 6 3% of target; 3% of excess .20%
Years 7 - 12 3% of target; 3% of excess .20%
Years 13+ 0% .10%
Chargeback Scale:
--------------------------------------------- ---------- --------- ---------- ---------- --------- ---------- ---------
# of completed months in force 0-6 7 8 9 10 11 12+
--------------------------------------------- ---------- --------- ---------- ---------- --------- ---------- ---------
% of commissions recovered 100% 95% 90% 80% 60% 30% 0%
--------------------------------------------- ---------- --------- ---------- ---------- --------- ---------- ---------
LEGACY VARIABLE UNIVERSAL LIFE (policy series CL 79 0203)
POLICY YEAR % OF PREMIUM % OF END OF POLICY YEAR
UNLOANED ACCOUNT VALUE
Year 1 90% of target; 3% of excess 0%
Years 2 - 6 3% of target; 3% of excess .20%
Years 7 - 12 3% of target; 3% of excess .20%
Years 13+ 0% .10%
Chargeback Scale:
--------------------------------------------- ---------- --------- ---------- ---------- --------- ---------- ---------
# of completed months in force 0-6 7 8 9 10 11 12+
--------------------------------------------- ---------- --------- ---------- ---------- --------- ---------- ---------
% of commissions recovered 100% 95% 90% 80% 60% 30% 0%
--------------------------------------------- ---------- --------- ---------- ---------- --------- ---------- ---------
PINNACLE II VARIABLE UNIVERSAL LIFE (policy series CL 84 0503)
POLICY YEAR % OF PREMIUM % OF END OF POLICY YEAR
UNLOANED ACCOUNT VALUE
Year 1 90% of target; 3% of excess 0%
Years 2 - 6 3% of target; 3% of excess .20%
Years 7 - 12 3% of target; 3% of excess .20%
Years 13+ 0% .10%
Chargeback Scale:
--------------------------------------------- ---------- --------- ---------- ---------- --------- ---------- ---------
# of completed months in force 0-6 7 8 9 10 11 12+
--------------------------------------------- ---------- --------- ---------- ---------- --------- ---------- ---------
% of commissions recovered 100% 95% 90% 80% 60% 30% 0%
--------------------------------------------- ---------- --------- ---------- ---------- --------- ---------- ---------
SCHEDULE A
COMMISSION SCHEDULE
FOR
-------------------------------------------------------
[BROKER-DEALER]
COLUMBUS LIFE VARIABLE UNIVERSAL LIFE (policy series CL 72 9908)
POLICY YEAR % OF PREMIUM % OF END OF POLICY YEAR
UNLOANED ACCOUNT VALUE
Year 1 [105]% of target; [3]% of excess 0%
Years 2 - 10 [3]% of target; [3]% of excess [.25]%
Years 11 - 16 [1]% of target; [1]% of excess [.25]%
Years 17+ [1]% of target; [1]% of excess 0%
Chargeback Scale:
--------------------------------------------- ---------- --------- ---------- ---------- --------- ---------- ---------
# of completed months in force 0-6 7 8 9 10 11 12+
--------------------------------------------- ---------- --------- ---------- ---------- --------- ---------- ---------
% of commissions recovered 100% 95% 90% 80% 60% 30% 0%
--------------------------------------------- ---------- --------- ---------- ---------- --------- ---------- ---------
PINNACLE VARIABLE UNIVERSAL LIFE (policy series CL 75 0101)
POLICY YEAR % OF PREMIUM % OF END OF POLICY YEAR
UNLOANED ACCOUNT VALUE
Year 1 [120]% of target; [3]% of excess 0%
Years 2 - 6 [3]% of target; [3]% of excess [.20]%
Years 7 - 12 [3]% of target; [3]% of excess [.20]%
Years 13+ 0% [.10]%
Chargeback Scale:
--------------------------------------------- ---------- --------- ---------- ---------- --------- ---------- ---------
# of completed months in force 0-6 7 8 9 10 11 12+
--------------------------------------------- ---------- --------- ---------- ---------- --------- ---------- ---------
% of commissions recovered 100% 95% 90% 80% 60% 30% 0%
--------------------------------------------- ---------- --------- ---------- ---------- --------- ---------- ---------
LEGACY VARIABLE UNIVERSAL LIFE (policy series CL 79 0203)
POLICY YEAR % OF PREMIUM % OF END OF POLICY YEAR
UNLOANED ACCOUNT VALUE
Year 1 [120]% of target; [3]% of excess 0%
Years 2 - 6 [3]% of target; [3]% of excess [.20]%
Years 7 - 12 [3]% of target; [3]% of excess [.20]%
Years 13+ 0% [.10]%
Chargeback Scale:
--------------------------------------------- ---------- --------- ---------- ---------- --------- ---------- ---------
# of completed months in force 0-6 7 8 9 10 11 12+
--------------------------------------------- ---------- --------- ---------- ---------- --------- ---------- ---------
% of commissions recovered 100% 95% 90% 80% 60% 30% 0%
--------------------------------------------- ---------- --------- ---------- ---------- --------- ---------- ---------
PINNACLE II VARIABLE UNIVERSAL LIFE (policy series CL 84 0503)
POLICY YEAR % OF PREMIUM % OF END OF POLICY YEAR
UNLOANED ACCOUNT VALUE
Year 1 [120]% of target; [3]% of excess 0%
Years 2 - 6 [3]% of target; [3]% of excess [.20]%
Years 7 - 12 [3]% of target; [3]% of excess [.20]%
Years 13+ 0% [.10]%
Chargeback Scale:
--------------------------------------------- ---------- --------- ---------- ---------- --------- ---------- ---------
# of completed months in force 0-6 7 8 9 10 11 12+
--------------------------------------------- ---------- --------- ---------- ---------- --------- ---------- ---------
% of commissions recovered 100% 95% 90% 80% 60% 30% 0%
--------------------------------------------- ---------- --------- ---------- ---------- --------- ---------- ---------
