EX-99.(C)(1)(II) 3 file003.txt DISTRIBUTOR AGREEMENT AMENDMENT to the DISTRIBUTOR AGREEMENT Pursuant to the Distributor Agreement, made and entered into as of the 24th day of August, 1999, by and among Columbus Life Insurance Company and Touchstone Securities, Inc. with its affiliated insurance agencies, the parties hereby agree to an amended and restated Schedule A as attached hereto, and to an amended and restated alternate form of Schedule A for use with selected broker-dealers, as attached hereto. IN WITNESS WHEREOF, each of the parties hereto has caused this Amendment to the Distributor Agreement to be executed in its name and on its behalf by its duly authorized representative. The Amendment shall take effect on May 1, 2005.
COLUMBUS LIFE INSURANCE COMPANY TOUCHSTONE SECURITIES, INC. By: By: ----------------------------------------- ----------------------------------- Name: Mark A. Wilkerson Name: James H. Grifo Title: Senior Vice President & Chief Title: President Marketing Officer COLUMBUS LIFE INSURANCE COMPANY W & S FINANCIAL GROUP DISTRIBUTORS, INC. By: By: ----------------------------------------- -------------------------------- Name: Lawrence L. Grypp Name: Jill T. McGruder Title: President & Chief Executive Officer Title: President
SCHEDULE A STANDARD COMMISSION SCHEDULE COLUMBUS LIFE VARIABLE UNIVERSAL LIFE (policy series CL 72 9908)
POLICY YEAR % OF PREMIUM % OF END OF POLICY YEAR UNLOANED ACCOUNT VALUE Year 1 90% of target; 3%* of excess 0% Years 2 - 10 3% .25% Years 11 - 16 1% .25% Years 17+ 1% 0%
*0% on any amount of first year premium in excess of $500 per $1,000 of Specified Amount Chargeback Scale:
--------------------------------------------- ---------- --------- ---------- ---------- --------- ---------- --------- # of completed months in force 0-6 7 8 9 10 11 12+ --------------------------------------------- ---------- --------- ---------- ---------- --------- ---------- --------- % of commissions recovered 100% 95% 90% 80% 60% 30% 0% --------------------------------------------- ---------- --------- ---------- ---------- --------- ---------- ---------
PINNACLE VARIABLE UNIVERSAL LIFE (policy series CL 75 0101)
POLICY YEAR % OF PREMIUM % OF END OF POLICY YEAR UNLOANED ACCOUNT VALUE Year 1 90% of target; 3% of excess 0% Years 2 - 6 3% of target; 3% of excess .20% Years 7 - 12 3% of target; 3% of excess .20% Years 13+ 0% .10%
Chargeback Scale:
--------------------------------------------- ---------- --------- ---------- ---------- --------- ---------- --------- # of completed months in force 0-6 7 8 9 10 11 12+ --------------------------------------------- ---------- --------- ---------- ---------- --------- ---------- --------- % of commissions recovered 100% 95% 90% 80% 60% 30% 0% --------------------------------------------- ---------- --------- ---------- ---------- --------- ---------- ---------
LEGACY VARIABLE UNIVERSAL LIFE (policy series CL 79 0203)
POLICY YEAR % OF PREMIUM % OF END OF POLICY YEAR UNLOANED ACCOUNT VALUE Year 1 90% of target; 3% of excess 0% Years 2 - 6 3% of target; 3% of excess .20% Years 7 - 12 3% of target; 3% of excess .20% Years 13+ 0% .10%
Chargeback Scale:
--------------------------------------------- ---------- --------- ---------- ---------- --------- ---------- --------- # of completed months in force 0-6 7 8 9 10 11 12+ --------------------------------------------- ---------- --------- ---------- ---------- --------- ---------- --------- % of commissions recovered 100% 95% 90% 80% 60% 30% 0% --------------------------------------------- ---------- --------- ---------- ---------- --------- ---------- ---------
PINNACLE II VARIABLE UNIVERSAL LIFE (policy series CL 84 0503)
POLICY YEAR % OF PREMIUM % OF END OF POLICY YEAR UNLOANED ACCOUNT VALUE Year 1 90% of target; 3% of excess 0% Years 2 - 6 3% of target; 3% of excess .20% Years 7 - 12 3% of target; 3% of excess .20% Years 13+ 0% .10%
Chargeback Scale:
--------------------------------------------- ---------- --------- ---------- ---------- --------- ---------- --------- # of completed months in force 0-6 7 8 9 10 11 12+ --------------------------------------------- ---------- --------- ---------- ---------- --------- ---------- --------- % of commissions recovered 100% 95% 90% 80% 60% 30% 0% --------------------------------------------- ---------- --------- ---------- ---------- --------- ---------- ---------
SCHEDULE A COMMISSION SCHEDULE FOR ------------------------------------------------------- [BROKER-DEALER] COLUMBUS LIFE VARIABLE UNIVERSAL LIFE (policy series CL 72 9908)
POLICY YEAR % OF PREMIUM % OF END OF POLICY YEAR UNLOANED ACCOUNT VALUE Year 1 [105]% of target; [3]% of excess 0% Years 2 - 10 [3]% of target; [3]% of excess [.25]% Years 11 - 16 [1]% of target; [1]% of excess [.25]% Years 17+ [1]% of target; [1]% of excess 0%
Chargeback Scale:
--------------------------------------------- ---------- --------- ---------- ---------- --------- ---------- --------- # of completed months in force 0-6 7 8 9 10 11 12+ --------------------------------------------- ---------- --------- ---------- ---------- --------- ---------- --------- % of commissions recovered 100% 95% 90% 80% 60% 30% 0% --------------------------------------------- ---------- --------- ---------- ---------- --------- ---------- ---------
PINNACLE VARIABLE UNIVERSAL LIFE (policy series CL 75 0101)
POLICY YEAR % OF PREMIUM % OF END OF POLICY YEAR UNLOANED ACCOUNT VALUE Year 1 [120]% of target; [3]% of excess 0% Years 2 - 6 [3]% of target; [3]% of excess [.20]% Years 7 - 12 [3]% of target; [3]% of excess [.20]% Years 13+ 0% [.10]%
Chargeback Scale:
--------------------------------------------- ---------- --------- ---------- ---------- --------- ---------- --------- # of completed months in force 0-6 7 8 9 10 11 12+ --------------------------------------------- ---------- --------- ---------- ---------- --------- ---------- --------- % of commissions recovered 100% 95% 90% 80% 60% 30% 0% --------------------------------------------- ---------- --------- ---------- ---------- --------- ---------- ---------
LEGACY VARIABLE UNIVERSAL LIFE (policy series CL 79 0203)
POLICY YEAR % OF PREMIUM % OF END OF POLICY YEAR UNLOANED ACCOUNT VALUE Year 1 [120]% of target; [3]% of excess 0% Years 2 - 6 [3]% of target; [3]% of excess [.20]% Years 7 - 12 [3]% of target; [3]% of excess [.20]% Years 13+ 0% [.10]%
Chargeback Scale:
--------------------------------------------- ---------- --------- ---------- ---------- --------- ---------- --------- # of completed months in force 0-6 7 8 9 10 11 12+ --------------------------------------------- ---------- --------- ---------- ---------- --------- ---------- --------- % of commissions recovered 100% 95% 90% 80% 60% 30% 0% --------------------------------------------- ---------- --------- ---------- ---------- --------- ---------- ---------
PINNACLE II VARIABLE UNIVERSAL LIFE (policy series CL 84 0503)
POLICY YEAR % OF PREMIUM % OF END OF POLICY YEAR UNLOANED ACCOUNT VALUE Year 1 [120]% of target; [3]% of excess 0% Years 2 - 6 [3]% of target; [3]% of excess [.20]% Years 7 - 12 [3]% of target; [3]% of excess [.20]% Years 13+ 0% [.10]%
Chargeback Scale:
--------------------------------------------- ---------- --------- ---------- ---------- --------- ---------- --------- # of completed months in force 0-6 7 8 9 10 11 12+ --------------------------------------------- ---------- --------- ---------- ---------- --------- ---------- --------- % of commissions recovered 100% 95% 90% 80% 60% 30% 0% --------------------------------------------- ---------- --------- ---------- ---------- --------- ---------- ---------