Exhibit
10(q)(1)
AMENDMENT NUMBER 1
TO
MARKETING
AGREEMENT
THIS AMENDMENT NUMBER 1
TO THE MARKETING AGREEMENT, effective as indicated herein, by and
between Americom Life & Annuity Insurance Company
(“Americom”), a Texas corporation, and Legacy Marketing
Group (“LMG”), a California corporation.
WHEREAS, Americom Life
& Annuity Insurance Company and LMG entered into a Marketing
Agreement (“Agreement”), wherein LMG agreed to provide
specified services relating to the marketing of certain insurance
policies issued by Americom:
WHEREAS, Americom merged
with and into OM Financial Life Insurance Company, effective
October 1, 2007.
NOW THEREFORE, in
consideration of the foregoing recitals and mutual promises
hereinafter contained and other good and valuable consideration,
LMG and Americom mutually agree to the following:
All references in this
Agreement to Americom Life & Annuity Insurance Company
(“Americom”) are changed to OM Financial Life Insurance
Company (“OMFLIC”). OMFLIC hereby ratifies its
acceptance of the terms and conditions of the Administrative
Services Agreement and all exiting addenda thereto.
1.
Section 2,
“TERM,” is hereby deleted in its entirety and the
following is replaced in its stead:
“Subject to
termination as provided in Section 2 of this Agreement, this
Agreement shall have an initial term of two (2) years (the
“Initial Term”). After the Initial Term, this
Agreement will automatically renew for successive two-year periods
unless terminated by either party with twelve (12) months’
advance written notice.”
2.
Add to APPENDIX A,
“Products and Territory,” as follows:
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Product Name
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AmeriMark SM Freedom
Equity Index Annuity
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Product Type
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Flexible Premium Deferred Annuity
Series
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Product Design
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Equity Index Annuity
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Index
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S&P 500
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Product Versions and Premium
Bonus Percentages
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a. AmeriMark SM Freedom
b. AmeriMark SM 7 Freedom
c. AmeriMark SM 7 SE
Freedom
d. AmeriMark SM 7 SE
Freedom
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2.
APPENDIX C,
“Minimum Premium Volumes,” is deleted in its
entirety.
3.
APPENDIX E,
is hereby deleted in its entirety and the following
is replaced in its stead:
Authorized OMFLIC
Personnel
Brian Grigg, VP of Sales
& Marketing
Richard Pretty, VP Sales
& Marketing
David Smith, SVP of
Operations
Nar Almeida, VP of
Operations
Elaine Griffin, Manager
of Operations
Eric Marhoun,
General Counsel
*Confidential
information omitted and filed separately with the SEC.
1
.
Authorized LMG
Personnel
Lynda L. Regan, Chief
Executive Officer
R. Preston Pitts,
President
Chris Eaken, Vice
President of Compliance and Quality Control/Training
Dayna Wells, Vice
President of IT & Product Implementation
4.
Add to APPENDIX G,
sub-section III “COMMISSIONS,” Table III-1, Commissions
Percentages” as follows:
“ Effective
1/27/06 - There is no adjustment to the commission
percentage for premiums greater than $** but less than $*.
For premiums of $* or more, the commission percentage is
determined by OMFLIC on a case by case basis in its sole
discretion.”
5.
Add to APPENDIX G,
sub-section III “COMMISSIONS,” as follows:
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Table III-2
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AmeriMark SM Freedom
Equity Index Annuity . LMG’s commissions
are based on the age of the policyowner to whom the Contract is
issued and the premium of the Contract. If the Contract is
issued to multiple policyholders, the age of the youngest
policyowner shall be used. Such commissions are set from time
to time by OMFLIC in its sole discretion. As of the Effective
Date, such commissions are as follows:
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* Confidential
information omitted and filed separately with the SEC.
2
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LMG Commission
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COMMISSION
PERCENTAGES:
AmeriMark SM Freedom
- effective 07/18/05
Age of policyowner: * to
**: *% of the
premium for each Contract issued to a policyowner who is aged
0-*
Age of policyowner: * to
** :
**% of the commission for each
Contract issued to a policyowner who is aged *-*
Age of policyowner: * to
* : **% of the
commission rate for each Contract issued to a policyowner who is
aged *-*
AmeriMark SM Freedom
- effective 04/01/07
Age of policyowner: * to
*: ***% of the
premium for each Contract issued to a policyowner who is aged
*-*
Age of policyowner: * to
** :
**% of the commission for each
Contract issued to a policyowner who is aged *-*
Age of policyowner: * to
* : **% of the
commission rate for each Contract issued to a policyowner who is
aged *-*
AmeriMark SM Freedom
- effective 06/04/07
Age of policyowner: * to
*: *% of the premium
for each Contract issued to a policyowner who is aged
*-*
Age of policyowner: * to
** :
**% of the commission for each
Contract issued to a policyowner who is aged *-*
Age of policyowner: * to
* : **% of the
commission rate for each Contract issued to a policyowner who is
aged *-*
AmeriMark SM 7 Freedom
- effective
07/18/05 to 05/31/06
Age of policyowner: * to
*: *% of the premium
for each Contract issued to a policyowner who is aged
*-*
Age of policyowner: * to
** :
**% of the commission for each
Contract issued to a policyowner who is aged*-*
Age of policyowner: * to
* : **% of the
commission rate for each Contract issued to a policyowner who is
aged **
AmeriMark SM 7 Freedom
- effective 06/01/06
Age of policyowner: * to
*: *% of the premium
for each Contract issued to a policyowner who is aged
0-*
Age of policyowner: * to
** :
**% of the commission for each
Contract issued to a policyowner who is aged *-*
Age of policyowner: * to
* : **% of the
commission rate for each Contract issued to a policyowner who is
aged *-*
AmeriMark SM 7 Freedom
- effective 04/01/07
Age of policyowner: * to
*: *% of the premium
for each Contract issued to a policyowner who is aged
*-*
Age of policyowner: * to
** :
**% of the commission for each
Contract issued to a policyowner who is aged *-*
Age of policyowner: * to
* : **
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