THIRD AMENDMENT
TO
GENERAL AGENT SALES AGREEMENT
THIRD AMENDMENT TO GENERAL AGENT SALES AGREEMENT dated as of July 19,
2004 by and between THE EQUITABLE LIFE ASSURANCE SOCIETY OF THE UNITED STATES
("Equitable"), a New York stock life insurance company, having offices at 0000
Xxxxxx xx xxx Xxxxxxxx, Xxx Xxxx, Xxx Xxxx 00000, and AXA NETWORK, LLC, a
Delaware limited liability company having offices at 0000 Xxxxx Xxxx Xxxx,
Xxxxxxxxxx, Xxxxxxxxxxxx 00000 and the AXA Network subsidiaries executing this
Agreement below (collectively, the "General Agent").
Equitable and the General Agent hereby modify and amend the General Agent Sales
Agreement dated as of January 1, 2000 between them, as previously amended (the
"Sales Agreement") to reduce the compensation that would otherwise be due and
payable thereunder on sales of Equitable Universal Life Insurance and Athena
Universal Life Insurance from and after the date hereof as more particularly set
forth in the Amended and Restated Schedule 1 of Exhibit A attached hereto and
made a part hereof.
Except as modified and amended hereby, the Sales Agreement is in full force and
effect.
IN WITNESS WHEREOF, the parties hereto have caused this Third Amendment
to General Agent Sales Agreement to be duly executed and delivered as of the day
and year first above written.
THE EQUITABLE LIFE ASSURANCE AXA NETWORK, LLC
SOCIETY OF THE UNITED STATES AXA NETWORK OF ALABAMA, LLC
AXA NETWORK OF CONNECTICUT,
By: /s/Xxxxxxx X. Xxxxx MAINE AND NEW YORK, LLC
----------------------- AXA NETWORK INSURANCE
Xxxxxxx X. Xxxxx AGENCY OF MASSACHUSETTS, LLC
Vice Chairman and AXA NETWORK OF PUERTO RICO, INC.
Chief Financial Officer AXA NETWORK INSURANCE AGENCY
OF TEXAS, INC.
By: /s/Xxxxxx X. Xxxxx
----------------------------
Xxxxxx X. Xxxxx
President - Retail Division
180494
EXHIBIT A
AMENDED AND RESTATED SCHEDULE 1
EFFECTIVE AS OF July 19, 2004
GENERAL AGENT COMPENSATION FOR LIFE INSURANCE SALES AND SERVICING
This Amended and Restated Schedule 1 of Exhibit A is effective as of July 19,
2004 and is attached to and made part of the General Agent Sales Agreement dated
January 1, 2000 by and between The Equitable Life Assurance Society of the
United States and AXA Network, LLC.
Compensation to the General Agent in connection with the sale and servicing of
life insurance policies 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 the General Agent in respect of the sale and servicing of each
life insurance policy will be a percentage of the premiums received by Equitable
in respect of such policy as more particularly set forth in the following
tables:
Commissions on Variable Life Insurance Products other than COLI `04
Type of Premium Percentage
--------------- ----------
First Policy Year
Qualifying First Year Premiums up to Target
Excess Premiums
Renewals
Commissions on COLI `04
Type of Premium Percentage
--------------- ----------
First Policy Year
Qualifying First Year Premiums up to Target
Excess Premiums
Renewals
180494 Schedule 1 (Page 1 of 2)
Exhibit A
Amended and Restated Schedule 1 (cont.)
Effective as of July 19, 2004
Commissions on Non-Variable Life Insurance Products
Type of Premium Percentage
--------------- ----------
First Policy Year
Schedule Premiums
Qualifying First Year Premiums up to Target
Athena Universal Life
Other non-variable life insurance products
Excess Premiums
Renewals - Policy Years 2-5
Renewals - Years 6 et seq.
Athena Universal Life products
Equitable Universal Life products
Other non-variable life insurance products
180494 Schedule 1 (Page 2 of 2)
