EX-99.1A(3)(B) 3 a2067902zex-99_1a3b.txt EXHIBIT 99.1A(3)(B) AMENDMENT TO UNDERWRITING AGREEMENT THIS AMENDMENT TO UNDERWRITING AGREEMENT is made and entered into on this the 18th day of September, 2001, by and between Southern Farm Bureau Life Insurance Company (hereinafter referred to as the "Insurer"), a Mississippi insurance company, on its own behalf and on behalf of Southern Farm Bureau Life Variable Account and Southern Farm Bureau Life Variable Life Account, each a segregated asset account of the Insurer, and Southern Farm Bureau Fund Distributor, Inc. (hereinafter referred to as the "Distributor), a Mississippi corporation. WHEREAS, the Insurer and the Distributor entered into an Underwriting Agreement dated October 5, 1999 (hereinafter referred to as the "Underwriting Agreement"), to facilitate distribution by the Distributor, as principal underwriter, of certain variable insurance products issued by the Insurer and WHEREAS, the Insurer and the Distributor desire to amend certain Schedules of the Underwriting Agreement as provided for therein. NOW THEREFORE, for and in consideration of the mutual promises of the parties and other good and valuable consideration, the receipt and sufficiency of all of which are hereby acknowledged, the Insurer and the Distributor hereby agree as follows: 1. The Insurer and the Distributor hereby amend Schedule 1 of the Underwriting Agreement by substituting in its place and stead Schedule 1 attached hereto and made a part hereof. 2. The Insurer hereby amends Schedule 2 of the Underwriting Agreement by substituting in its place and stead Schedule 2 attached hereto and made a part hereof. 3. Except as hereinabove expressly modified or amended, all of the terms and conditions contained in the Underwriting Agreement shall remain unchanged and in full force and effect. IN WITNESS WHEREOF, each of the parties has caused this Amendment to be executed in its name and on its behalf by its duly authorized representative as of the date first set forth above. 1 INSURER: Southern Farm Bureau Life Insurance Company /s/ By:_______________________________________ Joseph A. Purvis Vice President, General Counsel and Secretary DISTRIBUTOR: Southern Farm Bureau Fund Distributor, Inc. /s/ By:_______________________________________ Laurence E. Favreau President SCHEDULE 1 To Underwriting Agreement Contracts: Flexible Premium Deferred Variable Annuity 2 Non-Participating Adjustable Premium Variable Life Insurance Variable Accounts: Southern Farm Bureau Life Variable Account Southern Farm Bureau Life Variable Life Account SCHEDULE 2 To Underwriting Agreement Compensation for Flexible Premium Deferred Variable Annuity Effective October 5, 1999
------------------------------------------------------------------------------------------------------------- Issue Age 0-70 ------------------------------------------------------------------------------------------------------------- Yr 1 Yr 2-7 Yr 8+ % Prem % % Prem % % Prem % ------------------------------------------------------------------------------------------------------------- 3 Fund Fund Fund (bp)* (bp)* (bp)* ------------------------------------------------------------------------------------------------------------- 4.19% 0 3.75% 3.0 1.25% 13.0 ------------------------------------------------------------------------------------------------------------- ------------------------------------------------------------------------------------------------------------- Issue Age 71-75 ------------------------------------------------------------------------------------------------------------- Yr 1 Yr 2-7 Yr 8+ % Prem % % Prem % % Prem % Fund Fund Fund (bp)* (bp)* (bp)* ------------------------------------------------------------------------------------------------------------- 3.15% 0 2.81% 3.0 0.94% 13.0 ------------------------------------------------------------------------------------------------------------- ------------------------------------------------------------------------------------------------------------- Issue Age 76-80 ------------------------------------------------------------------------------------------------------------- Yr 1 Yr 2-7 Yr 8+ % Prem % % Prem % % Prem % Fund Fund Fund (bp)* (bp)* (bp)* ------------------------------------------------------------------------------------------------------------- 2.10% 0 1.88% 3.0 0.63% 13.0 -------------------------------------------------------------------------------------------------------------
*bp = basis point; 100 basis points = 1.00% Compensation for Non-Participating Adjustable Premium Variable Life Insurance Effective September 18, 2001
----------------------------------------------------------------------------------------------------------------------- Policy Years 1-10 ----------------------------------------------------------------------------------------------------------------------- % Premium up to % Premium in excess Basic Annual Premium of Basic Annual Premium ----------------------------------------------------------------------------------------------------------------------- 10% 3% ----------------------------------------------------------------------------------------------------------------------- ----------------------------------------------------------------------------------------------------------------------- Policy Years 11+ ----------------------------------------------------------------------------------------------------------------------- % Premium up to % Premium in excess Basic Annual Premium of Basic Annual Premium ----------------------------------------------------------------------------------------------------------------------- 8% 3% -----------------------------------------------------------------------------------------------------------------------
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