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[SBL LOGO]
SECURITY BENEFIT LIFE
INSURANCE COMPANY
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A MEMBER OF THE SECURITY 700 SW HARRISON ST.
BENEFIT GROUP OF COMPANIES TOPEKA, KANSAS 66636-0001
(785) 431-3000
MARKETING ORGANIZATION AGREEMENT
COMMISSION SCHEDULE
SecureDesigns Variable Annuity (the "Contract")
Marketing Organization:
(Broker/Dealer)
EFFECTIVE DATE OF COMMISSION SCHEDULE:
COMMISSIONS - This Commission Schedule is hereby made a part of and amends your
selling agreement including, but not limited to, the SBL Variable Products Sales
Agreement and/or Marketing Organization Agreement, as applicable (hereinafter
called the "Agreement"), with Security Benefit Life Insurance Company and
Security Distributors, Inc. (hereinafter jointly called "SBL"), and commissions
payable hereunder are subject to the provisions contained in the Agreement and
this Commission Schedule. Minimum Purchase Payments are as set out in the
applicable prospectus and Contract. Commissions to a Marketing Organization are
equal to a percentage of each Purchase Payment written by Marketing
Organization, as follows:
1. The rate of commissions paid on Purchase Payments made with respect to each
particular Contract is based on the issue age of the Owner (or of the
Annuitant if the Contract is owned by a non-natural person) as set forth in
the Tables below. You may select one of Commission Options A through D as
shown in the table below at the time of application for each Contract. If no
selection is made on the application, SBL will pay you pursuant to Option A.
You may select a different option for each Contract but may not change the
Option in effect after the Contract is issued.
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COMMISSION OPTION OPTION A OPTION B OPTION C OPTION D
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OWNER ISSUE AGE 0-80 81-90 0-80 81-90 0-80 81-90 0-80 81-90
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5.00% 2.50% 6.50% 2.50% 2.50% 2.50% 0.00% 0.00%
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*No Commission will be paid on Purchase Payments made that are less than
the minimum specified in the applicable prospectus and Contract.
2. ASSET-BASED COMMISSIONS: Under Commission Options A, B (for issues ages
81-90 only), C and D, SBL will pay an asset-based commission as of the end
of each calendar month. The amount of the asset-based commission under each
Option is equal to 1/12 of the applicable percentage set forth in the table
below times the aggregate Contract Value of those Contracts sold under the
applicable Commission Option for which Marketing Organization is the broker
of record and, with respect to Options A, B and C only, the initial Purchase
Payment is more than 12 months old. For Option D only, the asset-based
commission will be paid as of the end of the first calendar month of the
Contract Date. On an annual basis, the asset-based commission is equal to
the amount set forth in the Table below. No asset-based commission will be
paid on Contracts that have annuitized under a life contingent annuity
option. An Annuitization Fee may be available as discussed in paragraph 5.
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COMMISSION
OPTION OPTION A OPTION B OPTION C OPTION D
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OWNER
ISSUE AGE 0-80 81-90 0-80 81-90 0-80 81-90 0-80 81-90
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25 bps 25 bps 0 bps 25 bps 45 bps 25 bps 65 bps 60 bps
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3. CONTRACT DATE: For the purpose of this Commission Schedule, the term
"Contract Date" shall be the date the first Purchase Payment is credited to
the Contract ("Contract Date").
4. TRANSFER OF SBL CONTRACT VALUES: No commission (including asset-based
commission) is paid on the transfer of cash, loan or surrender value of a
life insurance or annuity contract issued by SBL or other members of The
Security Benefit Group of Companies applied to a Contract under this
Commission Schedule.
Death Benefit Applied to an Annuity Option: In the event that a beneficiary
of a Contract under this Commission Schedule applies the death benefit to
one of the annuity options under the Contract, no commission will be payable
upon such application. An Annuitization Fee may be available as discussed in
paragraph 5.
5. ANNUITIZATION: An Annuitization Fee will be paid to a Marketing Organization
who secures from the Contract Owner (or his or her beneficiary) the proper
forms and information to commence an immediate life contingent annuity
option under the Contract and significantly assists the client and SBL in
such settlement. The Annuitization Fee will be equal to 4% of the amount
applied to a fixed life contingent annuity option and 2% of the amount
applied to a variable life contingent annuity option.
6. COMMISSION CHARGEBACK PROVISIONS: No Commission Chargebacks are applicable
to any partial withdrawals, full surrenders or death claims. Commissions
will be charge backed in the event of a free look surrender.
7. CHANGE OF COMMISSION SCHEDULE: Notwithstanding any other provision of the
Agreement to the contrary, the following provisions shall apply. SBL
reserves the right at any time, with or without notice, to change, modify or
discontinue the commissions, asset-based commissions or any other
compensation payable under this Commission Schedule. However, any such
change will not apply to the commissions or asset-based commissions
applicable to Contracts issued before the effective date of such change.
8. CHANGE OF DEALER: A Contract Owner shall have the right to designate a new
marketing organization, or terminate a marketing organization without
designating a replacement, by sending written notice of such designation or
termination to SBL. Upon written notice to SBL by the owner of the
designation of a new marketing organization, all the commissions and
asset-based commissions shall be payable to the new marketing organization.
Upon written notice to SBL by the Contract Owner of termination of Marketing
Organization, without designating a new marketing organization, SBL shall
cease paying commissions and asset-based commissions to Marketing
Organization.
9. TERMINATION OF THE AGREEMENT/VESTING: In the event of termination of the
Agreement for any reason, all rights to receive commissions, asset-based
commissions or other compensation under this Commission Schedule shall be
terminated, unless each of the following requirements is met: (i) the
Agreement has been in force for at least one year; (ii) Marketing
Organization is at the time such commissions are payable properly licensed
to receive such commissions; (iii) Marketing Organization is providing
service to the Contract Owner and performing its duties in a manner
satisfactory to SBL; (iv) commissions paid to Marketing Organization in the
previous calendar year amounted to at least $500; and (v) Marketing
Organization has not been terminated, nor a new marketing organization
designated, by the Contract Owner as set forth in paragraph 8 above.
THIS COMMISSION SCHEDULE replaces any previous Commission Schedule for the
Variable Annuity Contract listed above as of the Effective Date set forth above.
SECURITY DISTRIBUTORS, INC. SECURITY BENEFIT LIFE INSURANCE COMPANY
By: GREGORY J. GARVIN By: GREGORY J. GARVIN
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Title: President Title: Senior Vice President
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