EX-99.3L 5 e7453_ex99-3l.txt FOURTH AMENDMENT TO GENERAL SALES AGREEMENT FOURTH AMENDMENT TO GENERAL AGENT SALES AGREEMENT FOURTH AMENDMENT TO GENERAL AGENT SALES AGREEMENT dated as of November 1, 2004 by and between AXA EQUITABLE LIFE INSURNACE COMPANY (formerly known as The Equitable Life Assurance Society of the United States) ("AXA Equitable"), a New York stock life insurance company, having offices at 1290 Avenue of the Americas, New York, New York 10104, and AXA NETWORK, LLC, a Delaware limited liability company having offices at 4251 Crums Mill Road, Harrisburg, Pennsylvania 17112 and the AXA Network subsidiaries executing this Agreement below (collectively, the "General Agent"). AXA 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 provide for the compensation due and payable thereunder on sales of VUL (PHI Code: 6550) and Seven Pay SPIA (PHI Code: 6551) from and after the date hereof as more particularly set forth in Amended and Restated Schedules 1 and 3 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 Fourth Amendment to General Agent Sales Agreement to be duly executed and delivered as of the day and year first above written. AXA EQUITABLE LIFE INSURANCE AXA NETWORK, LLC COMPANY AXA NETWORK OF ALABAMA, LLC AXA NETWORK OF CONNECTICUT, By: /s/ Stanley B. Tulin MAINE AND NEW YORK, LLC ----------------------- AXA NETWORK INSURANCE Stanley B. Tulin 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/ Robert S. Jones --------------------------- Robert S. Jones President - Retail Division 189428 EXHIBIT A AMENDED AND RESTATED SCHEDULE 1 EFFECTIVE AS OF NOVEMBER 1, 2004 GENERAL AGENT COMPENSATION FOR LIFE INSURANCE SALES AND SERVICING This Amended and Restated Schedule 1 of Exhibit A is effective as of November 1, 2004 and is attached to and made part of the General Agent Sales Agreement dated January 1, 2000 by and between AXA Equitable Life Insurance Company 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 and VUL (PHI Code: 6550) 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 189428 Exhibit A Amended and Restated Schedule 1 (cont.) Effective as of November 1, 2004 Commissions on VUL (PHI Code: 6550) Type of Premium Percentage --------------- ---------- First Policy Year Qualifying First Year Premiums up to Target Excess Premiums Renewals Commissions on Non-Variable Life Insurance Products Type of Premium Percentage --------------- ---------- First Policy Year Scheduled 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 189428 EXHIBIT A AMENDED AND RESTATED SCHEDULE 3 EFFECTIVE AS OF November 1, 2004 General Agent Compensation for Individual Qualified and Non-Qualified Annuity Sales and Servicing This Amended and Restated Schedule 3 of Exhibit A is effective as of November 1, 2004 and is attached to and made part of the Fourth Amendment to General Agent Sales Agreement dated as of November 1, 2004 by and between AXA Equitable Life Insurance Company and AXA Network, LLC, et al. Compensation to the General Agent in connection with the sale and servicing of all annuity contracts other than tax qualified periodic premium annuity contracts will be calculated on a contract by contract and certificate by certificate 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. From and after January 1, 2003 total compensation to the General Agent in respect of the sale and servicing of each such annuity contract or certificate, other than Accumulator Advisor contracts, will be a percentage of the consideration received by AXA Equitable in respect of such contract or certificate as more particularly set forth in the following table: Commissions on Annuities other than Seven Pay SPIA (PHI Code: 6551) Type of Consideration Percentage --------------------- ---------- First Policy Year Renewal Years Commissions on Seven Pay SPIA (PHI Code 6551) Type of Consideration Percentage --------------------- ---------- First Policy Year No compensation will be paid to the General Agent in respect of the sale and servicing of Accumulator Advisor contracts. 189428