EX-99.(3)(D)(IX) 2 a22-4000_5ex99d3dix.htm EX-99.(3)(D)(IX)
 Exhibit (3)(d)(ix)
TENTH AMENDMENT TO
GENERAL AGENT SALES AGREEMENT
 
 
This TENTH AMENDMENT TO GENERAL AGENT SALES AGREEMENT, dated as of September 1, 2021, is by and between EQUITABLE FINANCIAL LIFE INSURANCE COMPANY OF AMERICA (f/k/a MONY Life Insurance Company of America), an Arizona life insurance company (“Equitable America”), and EQUITABLE NETWORK, LLC (f/k/a AXA Network, LLC), a Delaware limited liability company (“General Agent”).
 
Equitable America and General Agent hereby modify and amend the General Agent Sales Agreement, dated as of June 6, 2005, between Equitable America and General Agent (as previously amended, the “Sales Agreement”)    to amend and restate Schedule 1 of Exhibit A of the Sales Agreement to reflect the addition of an individual permanent life insurance product, Equitable AdvantageSM.
 
Except as modified and amended hereby, the Sales Agreement is in full force and effect.
 
IN WITNESS WHEREOF, the parties hereto have caused this Tenth Amendment to General Agent Sales Agreement to be duly executed and delivered as of the day and year first above written.
 
 
 
EQUITABLE FINANCIAL LIFE INSURANCE COMPANY OF AMERICA
 
 
By:  /s/ Robin M. Raju 
Name:
Robin M. Raju
Title:
Senior Executive Vice President and Chief Financial Officer
 
EQUITABLE NETWORK, LLC
 
 
 
By: /s/ Frank Massa
Name: Frank Massa
Title:
President and Chief Executive Officer
 
 
 
1
EXHIBIT A
 
AMENDED AND RESTATED SCHEDULE 1 EFFECTIVE AS OF SEPTEMBER 1, 2021
General Agent Compensation for Life Insurance Sales and Servicing
 
This Amended and Restated Schedule 1 of Exhibit A is effective as of the date set forth above and is attached to and made part of the General Agent Sales Agreement dated June 6, 2005 by and between Equitable Financial Life Insurance Company of America and Equitable Network, LLC.
 
Compensation to General Agent in connection with the sale and servicing of life insurance policies will be calculated on a policy by policy basis. Total compensation to General Agent in respect of the sale and servicing of each life insurance policy will be a percentage of the premiums received by Equitable America and, where applicable, fund-based basis points in respect of such policy as more particularly set forth in the following tables:
 
 
Commissions on renewals and 2014 and later Sales of Individual Permanent Life Insurance Products (other than Incentive Life Optimizer® III and VUL OptimizerSM Series 160):
 
Type of Premium
Percentage
 
 
Equitable America VUL
 
First policy year up to Target
110.0%
Excess Premiums (Policy Year 1)
4.0%
Renewals1
5.0%
Asset Based Trailer
0.0%
 
 
Equitable America ISWL
 
First policy year up to Target
110.0%
Excess Premiums (Policy Year 1)
4.0%
Renewals1
4.0%
 
 
Group UL
 
First Policy Year up to Target
110%
Excess Premiums (Policy Year 1)
4.0%
Renewals1
4.8%
 
 
 
 
 
1 Policy Year 2 and later.
 
1
Exhibit A
Amended and Restated Schedule 1 Effective as of 
 
,  
 
Type of Premium
Percentage
 
 
Corporate Owned Life Insurance (COLI)
 
First Policy Year up to Target
30.8%
Excess Premiums (Policy Year 1)
13.6%
Renewals2
15.0%
Asset Based Trailer2
0.20%3
 
 
Bank Owned Life (BOLI)
 
Single Premium
5.0%
Asset Based Trailer2
0.25%3
 
 
Incentive Life Legacy® II and III and VUL LegacySM Series 160
 
First Policy Year up to Target
99.0%
Excess Premiums (Policy Year 1)
8.5%
Renewals for Policy Year 2-5
5.8%
Renewals for Policy Year 6-10
3.8%
Renewals for Policy Year 11+
2.5%
 
 
Athena IUL 153
 
First Policy Year up to Target
99.0%
Excess Premiums (Policy Year 1)
8.5%
Renewals for Policy Year 2-5
8.0%
Renewals for Policy Year 6+
3.0%
 
 
IUL Protect and BrightLife® IUL and SIUL Series
 
First Policy Year up to Target
99.0%
Excess Premiums (Policy Year 1)
8.5%
Renewals for Policy Year 2-5
5.0%
Renewals for Policy Year 6-10
3.0%
Renewals for Policy Year 11+
 
BrightLife® Protect and IUL Protect
1.0%
BrightLife® Grow
2.0%
 
2
Equitable AdvantageSM
 
Policy Year 1 up to Target
8.5%
Excess Premiums (Policy Year 1)
3.5%
Policy Year 2 up to Target
14.0%
Policy Year 2 Excess Premiums
5.0%
Policy Years 3-5 up to Target
12.75%
Policy Years 3-5 Excess Premiums
5.0%
Policy Years 6-7 up to Target
10.75%
Policy Years 6-7 Excess Premiums
3.0%
Policy Years 8-10
3.0%
Policy Years 11+
2.0%
 
 
All Other Equitable America Products
 
First Policy Year up to Target
110.0%
Excess Premiums (Policy Year 1)
4.0%
Renewals2
5.0%
Asset Based Trailer
0.0%
 
2 Policy Year 2 and later.
3 Based on unloaned policy account value.
 
3
Exhibit A
Amended and Restated Schedule 1 Effective as of 
 
,  
 
Commissions on renewals and 2014 and later sales of Individual Term Life Insurance Products:
 
Type of Premium
Percentage
 
 
First Year
99.0%
One Year Term Life
(Including all Term One and BrightLife Term One Series)
10% (5% for issue ages 80 and above)
 
 
Renewals for Simplified Issue Term
 
Policy Year 2-5
 
Term 10SM
0.25%
Term 15SM
0.25%
Term 20SM
0.25%
 
 
Renewals for Term Series 156
 
Policy Year 2-5
 
Term 10SM
7.0%
Term 15SM
10.5%
Term 20SM
14.25%
ARTSM
7.65%
Policy Year 6-10
 
Term 10SM
0.0%
Term 15SM
1.0%
Term 20SM
1.0%
ARTSM
3.15%
 
Commissions on In-force Permanent Life Insurance Products (other than COLI, BOLI, Incentive Life Legacy® II and III, VUL LegacySM Series 160, Incentive Life Optimizer® III, VUL OptimizerSM Series 160, Athena IUL 153, IUL Protect and BrightLife® IUL and SIUL Series, and Equitable AdvantageSM):
 
Type of Premium
Percentage
 
 
Renewals4
5.0%
Asset Based Trailer
0.0%
 
 
4 Policy Year 2 and later.
 
4
Exhibit A
Amended and Restated Schedule 1 Effective as of 
 
,  
 
Commissions on In-force COLI:
 
Type of Premium
Percentage
 
 
Renewals5
15.0%
Asset Based Trailer4
0.20%6
 
Commissions on In-force BOLI:
 
Type of Premium
Percentage
 
 
Asset Based Trailer4
0.25%6
 
Commissions on In-force Term Life Insurance Products:
 
Type of Premium
Percentage
 
 
Renewals7
3.0%
Renewals8
0.0%
 
Commissions on Incentive Life Optimizer® III and VUL OptimizerSM Series 160
 
Type of Premium
Percentage
 
 
Heaped Compensation
 
First Policy Year up to Target
99.0%
Excess Premiums (Policy Year 1)
8.5%
Renewals for Policy Year 2-5
5.8%
Renewals for Policy Year 6-10
3.8%
Renewals for Policy Year 11+
2.5%
Asset Based Commissions on Unloaned Account Value
(Policy Year 11 et seq.)
10 bps
 
 
Semi-Heaped Compensation
 
First Policy Year up to Target
58.7%
Excess Premiums (Policy Year 1)
8.5%
Renewals for Policy Year 2-5 (up to Target)
15.0%
 
 
5 Policy Year 2 and later.
6 Based on unloaned policy account value.
7 Applies to policies issued prior to 7/29/02.
8 Applies to policies issued on or after 7/29/02 and before 2014.
 
5
Exhibit A
Amended and Restated Schedule 1 Effective as of 
 
,  
 
Renewals for Policy Year 2-5 (Excess Premiums)
7.0%
Renewals for Policy Year 6-7 (up to Target)
13.0%
Renewals for Policy Year 6-7 (Excess Premiums)
5.0%
Renewals for Policy Year 8-10
2.0%
Renewals for Policy Year 11+
1.5%
Asset Based Commissions on Unloaned Account Value (Policy Year 8 et seq.)
30 bps
 
 
Liquidity Rider Compensation (only applies to Incentive Life Optimizer® III, not to VUL Optimizer Series 160)
 
First Policy Year up to Target
36.7%
Excess Premiums (Policy Year 1)
8.5%
Renewals for Policy Year 2-5 (up to Target)
8.0%
Renewals for Policy Year 2-5 (Excess Premiums)
7.0%
Renewals for Policy Year 6-7 (up to Target)
6.0%
Renewals for Policy Year 6-7 (Excess Premiums)
5.0%
Renewals for Policy Year 8-10
2.0%
Renewals for Policy Year 11+
1.5%
Asset Based Commissions on Unloaned Account Value
(Policy Year 8 et seq.)
30 bps
 
6