Exhibit 10(o)(1)
AMENDMENT TO
MARKETING AGREEMENT
THIS AMENDMENT TO THE
MARKETING AGREEMENT, effective as indicated herein, by and between
Investors Insurance Corporation (“IIC”), a Delaware
corporation, and Legacy Marketing Group (“LMG”), a
California corporation.
WHEREAS, IIC and LMG
entered into a Marketing Agreement, dated June 5, 2002,
(“Agreement”), wherein LMG agreed to provide specified
services relating to the marketing of certain insurance policies
issued by IIC.
WHEREAS, IIC and LMG
desire to amend to the Agreement as follows;
NOW THEREFORE, in
consideration of the foregoing recitals and mutual promises
hereinafter contained and other good and valuable consideration,
LMG and IIC mutually agree to the following:
1.
Add to APPENDIX
A, “Contract (Policy) Forms,” as
follows:
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PRODUCT NAME
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POLICY FORM NUMBERS*
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EFFECTIVE DATES**
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MarkOne sm 0
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IIC-PEIA-302-10-0
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06/05/02
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MarkOne sm 4
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IIC-PEIA-302-10-4
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06/05/02
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MarkOne sm 8
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IIC-PEIA-302-10-8
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06/05/02
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MarkOne sm SE
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IIC-PEIA-302-10-0
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09/19/05
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Beneficiary Rider
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IIC-BRP-302
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06/05/02
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SummitMark sm
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IIC-PEIA-603-10-0
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03/15/04
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SummitMark sm Extra 4
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IIC-PEIA-603-10-4
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03/15/04
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SummitMark sm Extra 8
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IIC-PEIA-603-10-8
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03/15/04
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VistaMark sm
“0”
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IIC-PEIA-603-10-0
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04/29/04
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VistaMark sm
“4”
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IIC-PEIA-603-10-4
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04/27/04
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VistaMark sm
“8”
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IIC-PEIA-603-10-8
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04/27/04
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PremierMark sm
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IIC-PEIA-1204-0
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07/01/05
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*Including all State
required variations of the above referenced products/policy form
numbers.
** The “Effective
Date” is the first date that LMG will accept
applications.
2.
Add to APPENDIX B,
“ Commission and Marketing Allowance Fees,” as
attached hereto.
{Remainder of page
intentionally left blank.}
*Confidential
information omitted and filed separately with the SEC.
1
3.
APPENDIX C
, Schedule of Authorized
Personnel, “Representing LMG,” is hereby deleted in its
entirety and the following is replaced in its stead:
“Representing
Legacy Marketing Group
Lynda L. Regan, Chief
Executive Officer
R. Preston Pitts,
President
Ata Azarshahi, Chief
Actuarial Officer
Chris Eaken, Vice
President of Compliance and Quality
Control/Training”
All other provisions in
the Agreement not specifically amended above remain in effect and
unchanged.
IN WITNESS WHEREOF, the
parties have executed this Agreement.
Legacy Marketing Group
Investors Insurance
Corporation
By: /s/ R. Preston Pitts
By: /s/ Yves Corcos
Printed Name: R. Preston Pitts
Printed Name: Yves Corcos
Title: President
Title: Chief Executive Officer
Date: August 31, 2006
Date: May 17, 2006
*Confidential
information omitted and filed separately with the SEC.
2
APPENDIX B TO
MARKETING AGREEMENT
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MarkOne SM Compensation
Table a
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MarkOne SM
Series
Product Name
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Effective Dates b
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(a)
Base Commission
Ages *-*
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(b)
Mkt. Allow.
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(c)
LMG Trail
Com. (aka Administrative Trail Fee or Fund One
fee)
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Year 1
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Year 2+
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MarkOne SM
“0”
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06/05/02
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**
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*
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*
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*%
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12/01/02
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*
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*
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*
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*%
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02/01/03
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*
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*
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*
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*%
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03/24/03
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*
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*
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*
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*%
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07/07/03
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*
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*
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*
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*%
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09/15/03
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*
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*
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*
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*%
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11/01/03
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*
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*
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*
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*%
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02/02/04
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*
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*
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*
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*%
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04/05/04
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*
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*
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*
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*%
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05/01/04
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*
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*
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*
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*%
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06/01/04
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*
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*
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*
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*%
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09/01/04
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*
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*
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*
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*%
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11/01/04
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*
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*
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*
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*%
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03/01/05
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*
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*
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*
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*%
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04/01/05
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*
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*
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*
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*%
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05/01/05
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*
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*
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*
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*%
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06/01/05
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*
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*
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*
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*%
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09/01/05
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*
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*
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*
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*%
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11/01/05
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*
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*
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*
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*%
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Year 1
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Year 2+
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MarkOne SM
“4”
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06/05/02
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*
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*
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*
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*%
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12/01/02
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*
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*
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*
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*%
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02/01/03
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*
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*
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*
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*%
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03/24/03
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*
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*
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*
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*%
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07/07/03
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*
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*
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*
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*%
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09/01/03 to 09/30/03
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*
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*
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*
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*%
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09/15/03
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*
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*
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*
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*%
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10/01/03
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*
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*
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*
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*%
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02/02/04
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*
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*
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*
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*%
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04/05/04
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*
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*
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*
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*%
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05/01/04
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*
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*
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*
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*%
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06/01/04
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*
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*
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*
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*%
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09/01/04
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*
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*
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*
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*%
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11/01/04
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*
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*
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*
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*%
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03/01/05
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*
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*
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*
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*%
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04/01/05
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*
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*
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*
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*%
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05/01/05
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*
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*
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*
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*%
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06/01/05
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*
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*
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*
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*%
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09/01/05
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*
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*
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*
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*%
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*Confidential
information omitted and filed separately with the SEC.
3
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11/01/05
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*
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*
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*
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*%
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Year 1
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Year 2+
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MarkOne SM
“8”
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06/05/02
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*
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*
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*
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.*%
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12/01/02
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*
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*
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*
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*%
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02/01/03
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*
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*
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*
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*%
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03/24/03
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*
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*
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*
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*%
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07/07/03
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*
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*
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*
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*%
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10/01/03
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*
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*
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*
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*%
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02/02/04
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*
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*
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*
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*%
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04/05/04
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*
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*
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*
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*%
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05/01/04
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*
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*
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*
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*%
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06/01/04
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*
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*
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*
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*%
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09/01/04
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*
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*
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*
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*%
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11/01/04
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*
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*
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*
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*%
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03/01/05
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*
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*
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* c * d
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*%
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04/01/05
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*
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*
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*
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*%
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05/01/05
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*
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*
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*c * d
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*%
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06/01/05
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*
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*
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* c * d
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*%
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09/01/05
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*
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*
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* c * d
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*%
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11/01/05
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*
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*
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* c * d
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*%
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MarkOne SM
“SE”
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Base Commission
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Ages *-*
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Ages
*-*
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09/19/05
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*
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*
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*
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*%
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11/01/05
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*
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*
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*
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*%
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12/01/05
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*
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*
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*
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*%
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a
As of 10/11/04, the
maximum issue age is reduced from * to *
b
The “Effective
Date” is the first date that LMG will accept
applications
c
All strategies except
Guaranteed One-Year Strategy
d
Guaranteed One-Year
Strategy
GENERAL
COMPENSATION RULES FOR MARKONE TABLE
1.
Base Commission
(Column (a) above):
IIC will pay LMG on the
last business day of the week base commissions for all premiums
received in cash by LMG during that week, i.e., the prior Friday
through Thursday, in the specified percentages indicated in Column
(a) above. Such commissions will be paid by IIC to LMG by IIC
authorizing LMG to write a check to itself against the IIC
Disbursement account for the total weekly commission amount.
Additional premium payments in contract years 2*+ will be in
the percentages indicated above.
*Confidential
information omitted and filed separately with the SEC.
4
For issue ages *+, age
mandated trail commission is paid monthly beginning in the * (*
) contract month; or in the * (* )
contribution month for additional deposits. The
elective trail commission is paid beginning in the * (*) contract
month. The trail commission continues to be paid until death
of the owner, surrender of the policy or election of a settlement
option. The base commission is reduced as mandated by age or
elected as a trail as follows:
Commission Reduction
and Trail
Age Mandated
Commission
Ages*-*
06/05/02 to
02/01/04
Upfront:
Year 1: *% of Year 1
Base Commission rate
Year 2+: *% of Year 2
Base Commission rate
Trail:
Year 1: *% of Year 1
Base Commission rate
Year 2+: *% of Year 2
Base Commission rate
02/02/04 to
04/04/04
Upfront:
Year 1: *% of Year 1
Base Commission rate
Year 2+: *% of Year 2
Base Commission rate
Trail:
none
After 04/05/04
Upfront:
Year 1: *% of Year 1
Base Commission rate
Year 2+: *% of Year 2
Base Commission rate
Trail:
none
Elective Trail
Commission
*% of Base Commission
paid in trail. Base Commission is reduced by *%
*% of Base Commission
paid in trail. Base Commission is reduced by *%
*% of Base Commission
paid in trail. Base Commission is reduced by *%
2.
Marketing
Allowance (Column (b) above):
IIC will pay to LMG a
Marketing Allowance for all premiums received by LMG in the
specified percentages indicated in Column (b) above. LMG will
bill IIC weekly and IIC will pay LMG such Marketing Allowance by
wire transfer within * (*) business days of receipt of such
documentation.
3.
LMG Trail
Commission (Column (c) above):
IIC will pay LMG an
annual rate, paid monthly, of the percentage specified in column
(c) of the total Annuity Cash Value of the policies sold under this
Agreement. For the purpose of the foregoing, Annuity Cash
Value is the contract's Cash Value, which reflects any applicable
reductions, loans and withdrawals. &n
