Fourth Amendment to Marketing Agreement between Transamerica Life Insurance and Annuity Company and Legacy Marketing Group

Contract Categories: Business Operations › Marketing Agreements
Summary

This amendment updates the existing Marketing Agreement between Transamerica Life Insurance and Annuity Company and Legacy Marketing Group. It adds new proprietary annuity products and their policy forms, revises commission structures for these products, and updates the list of authorized personnel representing each company. All other terms of the original agreement remain unchanged. The amendment is effective as of the specified dates and is signed by authorized representatives of both parties.

View More
EX-10.5 7 ex10-5.txt EXHIBIT 10.5 EXHIBIT 10.5 AMENDMENT FOUR TO MARKETING AGREEMENT THIS FOURTH AMENDMENT TO THE MARKETING AGREEMENT is entered into this 19th day of November, 2002, and effective as indicated herein, by and between TRANSAMERICA LIFE INSURANCE AND ANNUITY COMPANY, hereinafter referred to as "Transamerica," a North Carolina corporation, and LEGACY MARKETING GROUP, hereinafter referred to as "LMG," a California corporation. WHEREAS, Transamerica and LMG entered into a Marketing Agreement, dated May 29, 1998, as amended, hereinafter referred to as the "Agreement," wherein Transamerica and LMG agreed to jointly develop proprietary annuity products, wherein LMG would market such products on behalf of Transamerica, utilizing its nationwide distribution channels of duly licensed and appointed Producers in consideration of the fees as set forth in APPENDIX B of the Agreement. NOW, THEREFORE, in consideration of the foregoing recitals and mutual promises hereinafter contained and other good and valuable consideration, the parties hereto do agree as follows: 1. Add to APPENDIX A, Policy Forms, as follows:
- ------------------------------------------------------------------------------------------- Product Name Policy Form Numbers Effective Dates - ------------------------------------------------------------------------------------------- SelectMark(R) Special Edition Series - ------------------------------------------------------------------------------------------- Selectmark(R)5 Special Edition T-P-SMSE-0801-5; 01/02/02 T-C-SMSE-0801-5 - ------------------------------------------------------------------------------------------- Selectmark(R)Special Edition Plus 4 T-C-SMSE-0402-10-4; 04/26/02 T-P-SMSE-0402-10-4 - ------------------------------------------------------------------------------------------- Selectmark(R)Special Edition Plus T-C-SMSE-0402-10-0; 05/06/02 T-P-SMSE-0402-10-0 - -------------------------------------------------------------------------------------------
Page 1 of 3 o CONFIDENTIAL INFORMATION HAS BEEN OMITTED AND FILED SEPARATELY WITH THE SEC. 2. Add to APPENDIX B, "Commission," as follows:
- --------------------- ---------------------- ---------------------------------------------------------------------------------- Compensation to Legacy Age Mandated Commission Reduction --------------------------------- (a) (b) (c) (d) (e) (f) (g) Commission Comm. % Trail Mkt. Override LMG Policy Form Numbers/ Reduces Reduction (Annual) Allow. Trail Product Name Effective Dates @ Age Com. - --------------------- ---------------------- ------------ --------------------------------- ---------- ---------- ------------- SelectMark(R) Special Edition Series - --------------------- ---------------------- ------------ --------- ------------- --------- ---------- ---------- ------------- SelectMark(R)5 T-P-SMSE-0801-5; o 80 o o o o o Special Edition T-C-SMSE-0801-5 - --------------------- ---------------------- ------------ --------- ------------- --------- ---------- ---------- ------------- SelectMark(R) T-C-SMSE-0402-10-0; o 80 o o o o o Special Edition Plus T-P-SMSE-0402-10-0 - --------------------- ---------------------- ------------ --------- ------------- --------- ---------- ---------- ------------- SelectMark(R) T-C-SMSE-0402-10-4; o 80 o o o o o Special Edition T-P-SMSE-0402-10-4 Plus 4 - --------------------- ---------------------- ------------ --------- ------------- --------- ---------- ---------- -------------
3. Appendix D, "Schedule of Authorized Personnel," is hereby amended to read as follows: Representing Legacy Marketing Group Lynda L. Regan, Chief Executive Officer R. Preston Pitts, President Steve Taylor, Chief Financial Officer Don Dady, Vice President of Marketing Representing Transamerica Ken Kilbane Ron Wagley Lana Ash Caroline Kirst 4. All other provisions in the Agreement not specifically amended above remain in effect and unchanged. Page 2 of 3 IN WITNESS HEREOF, the parties have hereto executed this Agreement. LEGACY MARKETING GROUP TRANSAMERICA LIFE INSURANCE AND ANNUITY COMPANY By: /s/ Don Dady By: /s/ Ken Kilbane Title: Vice President Title: Vice President Witness: /s/ Jackie Petersen Witness: /s/ Caroline Kirst Date: November 21, 2002 Date: November 25, 2002 Page 3 of 3