Security Benefit Life
Insurance Company
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A Member of The Security One Security Benefit Place
Benefit Group of Companies Xxxxxx, Xxxxxx 00000-0000
(000) 000-0000
MARKETING ORGANIZATION AGREEMENT
SUPERVISORY FEE AMENDMENT
EliteDesignsSM Variable Annuity (the "Contract")
Marketing Organization:
EFFECTIVE DATE:
This Supervisory Fee Amendment (the "Amendment") is hereby made a part of and
amends your selling agreement including, but not limited to, the SBL Variable
Products Sales Agreement and/or Marketing Organization Agreement, as applicable
(hereinafter called the "Agreement"), with Security Benefit Life Insurance
Company and Security Distributors, Inc. (hereinafter jointly called "SBL"), and
any compensation payable hereunder is subject to the provisions contained in the
Agreement, as amended.
1. ADMINISTRATIVE FEE FOR SUPERVISION: SBL acknowledges that Marketing
Organization has responsibility for supervision of its registered
representatives that sell the Contract (referred to herein as
"Marketer(s)") and Marketing Organization is not compensated in connection
with sales of the Contract as the current commission rate for the Contract
is 0%. Accordingly, SBL agrees to compensate Marketing Organization
pursuant to the schedule below for administrative services provided in
connection with supervision of its Marketers:
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Aggregate Contract Value Annual Administrative Fee(2)
of EliteDesigns Contracts (1) (as a percentage of the aggregate Contract Value of EliteDesigns
Contracts sold for which Marketing Organization is the Broker of Record)
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Less than $25 million 0.05%
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$25 million or more 0.10%
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(1) SBL determines the applicable percentage on the basis of aggregate
Contract Value of EliteDesigns Contracts for which Marketing
Organization is the broker of record as of December 31 of the prior
calendar year, or the Effective Date of this Amendment during the
calendar year in which this Amendment is first effective.
(2) SBL will pay the Administrative Fee as of the end of each full
calendar month during which this Amendment is in effect. The amount of
the administrative fee will be equal to 1/12 of the applicable
percentage set forth above times the aggregate Contract Value as of
the applicable calendar month end of those Contracts sold for which
Marketing Organization is the broker of record.
(3) Notwithstanding the foregoing, during calendar year 2007, SBL will pay
an annual Administrative Fee of 0.10% without regard to the amount of
aggregate Contract Value. Thereafter, SBL will pay the Administrative
Fee set forth in the table above while this Amendment is in effect.
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2. TERMINATION OF THE AGREEMENT: In the event of termination of the Agreement
or this Amendment for any reason, any rights to receive compensation under
this Amendment shall be terminated. SBL reserves the right to amend or
terminate this Amendment at any time upon ten days' prior written notice to
Marketing Organization.
THIS AMENDMENT replaces any previous agreement for the Contract listed above
with regard to an administrative fee for supervision as of the Effective Date
set forth above.
SECURITY DISTRIBUTORS, INC. SECURITY BENEFIT LIFE INSURANCE COMPANY
/s/ Xxxxxxx X. Xxxxxx /s/ Xxxxxxx X. Xxxxxx
By: ______________________________ By: _______________________________________
President Vice President
Title: ___________________________ Title: ____________________________________
MARKETING ORGANIZATION
By: ______________________________
Title: ___________________________
