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Exhibit 1.A.(3)(c)
Commission Schedule
Under NELICO's most recent commission schedule for new sales of the
Policies, the following maximum percentages of the Commission Breakpoint Premium
paid for each policy year will be paid to the NELICO agent involved in the sale
of a Policy:
<TABLE>
<CAPTION>
Policy Year Maximum Percentage
----------- ------------------
<S> <C>
1 50%
2-10 5%
11 and later 3%
</TABLE>
Agents will also receive a commission of 3% of each payment in excess
of the Commission Breakpoint Premium in any year. For Policies sold in
connection with certain executive benefit plans the maximum commissions are: 20%
of the Commission Breakpoint Premium in the first Policy year, 10% in Policy
years two through ten, and 2% thereafter. For these Policies NELICO will pay a
maximum commission of 3.5% of each payment in excess of the Commission
Breakpoint Premium in Policy years one through ten, and 2% of such excess
premiums thereafter.
Agents who meet certain NELICO productivity and persistency standards
may be eligible for additional compensation. Agents may receive a portion of the
general agent's expense reimbursement allowance.
New England Securities may enter into selling agreements with other
broker-dealers registered under the Securities Exchange Act of 1934 whose
representatives are authorized by applicable law to sell variable life insurance
policies. Under the agreements with those broker-dealers, the commission paid to
the broker-dealer will be based on the schedules described above. NELICO may pay
certain broker-dealers an additional bonus after the first Policy year on behalf
of certain registered representatives, which may be up to the amount of the
basic commission for the particular Policy year. NELICO will pay commissions
through the registered broker-dealer, and may pay additional compensation to the
broker-dealer and/or reimburse it for portions of Policy sales expenses. The
registered representative may receive a portion of the expense reimbursement
allowance paid to the broker-dealer.
