EXHIBIT 10.22
FORM OF
SERVICE AGREEMENT
BETWEEN
LINCOLN BENEFIT LIFE COMPANY
AND
ALLSTATE ASSIGNMENT COMPANY
This agreement (hereinafter "Agreement") entered into this 25th day of
June, 2001 between Lincoln Benefit Life Company, (hereinafter "LBL") and
Allstate Assignment Company (hereinafter "AAC"), shall be effective as of June
25, 2001.
WHEREAS the parties agree that LBL shall provide personnel, equipment and
facilities to AAC to assist AAC in its conduct of the business of an assignment
company; and,
WHEREAS AAC agrees to pay LBL for the services of such personnel and the
use of such equipment and facilities;
NOW, THEREFORE, IT IS AGREED AS FOLLOWS:
I. DUTIES OF LBL
A. LBL shall designate an appropriate number of employees to perform the
following functions on behalf of AAC:
1) receive gross premiums and assignment fees from the settlement
broker(s) and deposit these payments into the proper AAC bank
account(s) (only under the authority of an Assistant Treasurer of
Allstate Insurance Company will gross premiums from the
settlement broker(s) be transferred from AAC to Allstate Life
Insurance Company or Allstate Life Insurance Company of New York
to purchase annuity contracts). AAC will retain the assignment
fees for the purpose of paying compensation and other expenses
generated by AAC;
2) execute the "qualified assignment" forms and return them to the
assignor;
3) execute beneficiary change forms and any other documents for AAC
at request of Allstate Life structured settlement administrative
personnel; and
4) obtain corporate guarantee documentation from Allstate Insurance
Company.
B. LBL shall provide the office space and the equipment necessary for the
completion of the duties outlined in the preceding paragraph. Such
equipment shall include, but not
be limited to, telephones, furniture, filing cabinets, stationary and
miscellaneous supplies.
II. FEES FOR SERVICE
AAC agrees to pay LBL $5,000 per month for providing services performed by
LBL under the terms of this agreement. This will include services provided
for Allstate Settlement Corporation (ASC) during the transition period from
ASC to AAC. AAC will remit a pro-rated payment by the fifth workday of each
month to LBL.
III. RECORDS
A. Records supporting inter-company expense charges and maintained by one
party on behalf of the other shall be considered the latter's records and
shall be available to that party upon request.
B. Each party shall own, have custody of and keep its general corporate
records. Upon request, each party shall receive from the other party any of
its records that are currently in the other party's possession.
C. Each party shall keep confidential any records concerning the other party.
Each party may disclose such records only if the other party has authorized
the disclosure or if the disclosure is permitted by applicable law
governing privacy of records held by or within control of insurance
companies. In the event that either party is served with a subpoena or any
other court order which mandates disclosure, that party must notify the
other party and allow the other party sufficient time to intervene in the
judicial proceeding so as to protect its interest.
D. Both parties agree to keep all records required by federal and state laws,
to maintain the books, accounts and records as to clearly and accurately
disclose the precise nature and details of the transaction and to assist
one another in the timely preparation of records.
E. AAC shall furnish to LBL any reports and information which LBL may request
for the purpose of meeting its reporting and recordkeeping requirements
under the insurance laws any applicable jurisdiction.
VI. MISCELLANEOUS
A. Any dispute arising between LBL and AAC relating to the subject matter of
this Agreement which cannot be amicably resolved by the parties will be
referred to an Arbitration Panel composed of three members. One of the
arbitrators shall be chosen by LBL, one by AAC, and the third by the
agreement of the two arbitrators selected by the parties. Arbitrators shall
not be affiliated with LBL or AAC. LBL and AAC agree to accept the decision
of the panel of arbitrators as final and binding.
B. In the event AAC disputes charges for services, LBL shall not have the
right to charge AAC's account or to refuse to release AAC's records.
C. For purposes of this agreement, each party shall be deemed an independent
contractor and its personnel shall not be deemed to be employees of the
other.
D. This Agreement shall remain in effect until terminated. It may be
terminated by either party as of the first day of any calendar month by
giving the other party at least thirty (30) days prior written notice.
E. No amendment to this Agreement shall be effective unless made in writing
and signed by the parties thereto.
IN WITNESS WHEREOF the parties have caused this Agreement to be executed by
their duly authorized officers on the date first above written.
ALLSTATE ASSIGNMENT COMPANY
By:
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LINCOLN BENEFIT LIFE COMPANY
By:
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