EXHIBIT 3(b)(v)
Schedule A-2 - GENERATIONS Variable Annuity
Control Date - May 1, 2000
AMERICAN GENERAL LIFE INSURANCE COMPANY
CONTRACTS COVERED BY THIS AGREEMENT
Registration Forms Separate
Contract Name and Numbers Account
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GENERATIONS Form N-4 D
Variable Annuity Nos. 811-2441
33-43390
Schedule B-2 - GENERATIONS Variable Annuity
Control Date - May 1, 2000
AMERICAN GENERAL SECURITIES INCORPORATED AND
AMERICAN GENERAL LIFE INSURANCE COMPANY ("AGL")
This Schedule B is attached to and made a part of the Selling Group Agreement
("Agreement") to which it is attached. It is subject to the terms and
conditions of the Agreement. In no event shall AGL be liable for the payment of
any commission with respect to any solicitation made, in whole or in part, by
any person not appropriately licensed and appointed prior to the commencement of
such solicitation.
A commission will be paid to Associated Agency in the amount of:
Option (1): 6% of the aggregate Purchase Payments received and accepted by AGL
with a properly completed application or as subsequent Purchase
Payments under the Contracts after the Contract is in force;
Option (2): 5.0% of such aggregate Purchase Payments, plus a 0.25% trail
commission commencing at the end of the 12th month after receipt of
the initial Purchase Payment and continuing through the end of the
seventh year following receipt of the Purchase Payments, followed by
a 0.50% trail commission commencing at the end of the third month of
the eighth year following receipt of the initial Purchase Payment;
or
Option (3): 2.25% of such aggregate Purchase Payments, plus a 0.75% trail
commission commencing at the end of the 12th month after receipt of
the initial Purchase Payment.
"Trail commission" refers to an amount equal to an annual percentage of the
Contract Account Value. Trail commissions will be initially calculated as of
the date specified in the above paragraph. Once trail commissions have
commenced, trail commissions shall be computed on each quarterly contract
anniversary by multiplying 0.0625% (in the case of a 0.25% trail commission),
0.125% (in the case of a 0.50% trail commission) or 0.1875% (in the case of a
0.75% trail commission) by the Contract Account Value computed on each quarterly
contract anniversary. Trail commissions shall be paid at the calendar quarter
end which follows the computation of the trail commission. Trail commissions
shall continue until annuitization, surrender, or death which requires
distribution of the Contract Account Value.
Commission Reductions:
(a) FREE LOOK. If a Contract is returned to AGL pursuant to the "Free Look"
provision of the Contract, the full commission paid by AGL will be returned
to AGL or, in the absence of such return, charged back to Associated
Agency.
(b) REDUCTIONS FOR PURCHASE PAYMENTS AT AGE 81 AND LATER. A 50% commission
reduction shall apply with respect to Purchase Payments made on or after
the Annuitant's eighty-first birthday (regardless of whether the Contract
has a Contingent Annuitant). Such commission reduction is not applicable
to trail commissions.
(c) CHARGEBACKS FOR WITHDRAWALS. A commission chargeback of 50% shall apply
for full or partial withdrawal of a Purchase Payment made during the twelve
months following its receipt (excluding withdrawals made pursuant to the
Systematic Withdrawal Program that are within the Free Withdrawal
Privilege, as defined in the Contract).
In no event shall any commission adjustment or chargeback be assessed for
termination of a Contract because of the death of the Annuitant or Owner
during the periods specified above.
(d) NO COMPENSATION PAYABLE. No compensation shall be payable:
. if AGL, in its sole discretion, determines not to issue the Contract
applied for or rescinds the Contract;
. if AGL refunds all or any portion of the Purchase Payments as a result
of a complaint or grievance; or
. if AGL determines that a Purchase Payment made within 60 days following
a prior partial withdrawal, including systematic withdrawals, is
reasonably believed to be a reinvestment of part or all of the prior
partial withdrawal.
. if the Owner, at the time the Contract is purchased, is (i) an
employee or registered representative (or the spouse or minor child of
an employee or registered representative) of any broker-dealer
authorized to sell the Contracts, or (ii) is an officer, director, or
bona-fide employee of AGL or any of its company affiliates, or
Distributor; provided, however, that the Owner shall have completed,
at the time the Contract is purchased, appropriate documents supplied
by AGL which provide for a waiver of all surrender charges.
Associated Agency agrees to promptly deliver Contracts and holds AGL harmless
from and against any claim arising from market loss to the owner of the Contract
resulting from late delivery by Associated Agency.
Unless otherwise agreed, Associated Agency shall forward to AGL the first full
payment collected by Associated Agency, without deduction for compensation.
