Exhibit 10.2

 

Amendment to the Selling Agreement between

Allstate Life Insurance Company, ALFS, Inc., and

Allstate Financial Services, L.L.C. effective July 26, 1999

 

This Amendment shall modify your Selling Agreement (“Agreement”) with Allstate
Life Insurance Company (“Allstate Life”) and Allstate Financial Services, L.L.C.
(“AFS”) as set forth below and in the attached Schedule A.

 

The attached Schedule A shall replace any previous Schedule A for the same
product or; shall be an addition to the current Schedule A if the product was
not part of your Selling Agreement prior to the effective date of this
Amendment.

 

The acceptance of an application for this product, on or after the effective
date of this Amendment, is subject to the rules of Allstate Life and AFS and the
provisions of your Agreement.  By submission of an Allstate Life application,
acceptance of commissions, and/or request for change of Agent of record and/or
transfer of servicing to another firm in accordance with the Agreement, you
agree to be bound by the provisions of this Amendment.

 

Effective date:   September 28, 2001

 

By:

/s/ John Hunter

 

/s/ Lisa A. Burnell

 

 

 

 

 

John Hunter

Lisa A. Burnell

Vice President

Assistant Vice President and

Allstate Life Insurance Company

   Compliance Officer

 

ALFS, Inc.

 

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SCHEDULE A

SCHEDULE OF COMMISSIONS

 

Subject to terms and conditions of the Selling Agreement, Associated Insurance
Agency shall be compensated for VA Contracts issued according to the following
chart (based upon the option selected in writing by each Agent or
Representative):

 

Allstate Financial Personal Retirement Manager variable Annuity

 

Accumulation Phase
Upfront/Trail commissions
(% of purchase payments)

 

Ages 0 – 80*

 

Ages 81 – 85*

 

Ages 86+*

 

 

Option A

 

Option B

 

Option C

 

Option A

 

Option B

 

Option C

 

Option A

 

Option B

 

Option C

 

Contract Year 1

 

7.50%
No trail

 

5.00%
No trail

 

2.00% 1.00% trail

 

5.50% No trail

 

3.75% No trail

 

1.75% 1.00% trail

 

3.50% No trail

 

2.50% No trail

 

1.50% 1.00% trail

 

Contract Year 2

 

6.00%
No trail

 

4.00%
No trail

 

2.00% 1.00% trail

 

4.50% No trail

 

3.00% No trail

 

1.75% 1.00% trail

 

3.00% No trail

 

2.00% No trail

 

1.50% 1.00% trail

 

Contract Year 3

 

5.00%
No trail

 

3.00%
No trail

 

2.00% 1.00% trail

 

4.00% No trail

 

2.25% No trail

 

1.75% 1.00% trail

 

2.50% No trail

 

1.50% No trail

 

1.50% 1.00% trail

 

Contract Year 4

 

4.00%
No trail

 

2.00%
1.00% trail

 

2.00% 1.00% trail

 

3.00% No trail

 

1.75% 1.00% trail

 

1.75% 1.00% trail

 

2.00% No trail

 

1.50% 1.00% trail

 

1.50% 1.00% trail

 

Contract Year 5

 

3.00%
No trail

 

1.75%
1.00% trail

 

1.75% 1.00% trail

 

2.25% No trail

 

1.50% 1.00% trail

 

1.50% 1.00% trail

 

1.50% No trail

 

1.50% 1.00% trail

 

1.50% 1.00% trail

 

Contract Year 6

 

2.00%
No trail

 

1.50%
1.00% trail

 

1.50% 1.00% trail

 

1.75% No trail

 

1.50% 1.00% trail

 

1.50% 1.00% trail

 

1.50% No trail

 

1.50% 1.00% trail

 

1.50% 1.00% trail

 

Contract Year 7+

 

1.00%
0.75% trail

 

1.00%
1.00% trail

 

1.00% 1.00% trail

 

1.00% 0.75% trail

 

1.00% 1.00% trail

 

1.00% 1.00% trail

 

1.00% 0.75% trail

 

1.00% 1.00% trail

 

1.00% 1.00% trail

 

 

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* Age = attained age of the oldest owner (or oldest annuitant if the owner is
not a living person) at the time the purchase payment is made.

 

Payout Phase Trail commission (% of contract value)

 

All Ages

 

 

Option A

 

Option B

 

Option C

 

Contract Year 1

 

0.00

%

0.00

%

1.00

%

Contract Year 2

 

0.00

%

0.00

%

1.00

%

Contract Year 3

 

0.00

%

0.00

%

1.00

%

Contract Year 4

 

0.00

%

1.00

%

1.00

%

Contract Year 5

 

0.00

%

1.00

%

1.00

%

Contract Year 6

 

0.00

%

1.00

%

1.00

%

Contract Year 7+

 

0.75

%

1.00

%

1.00

%

 

ACCUMULATION PHASE (the period in which the contract owner makes contributions
to the annuity account)

 

•                  Commissions are calculated on a contract quarter basis and
paid at the end of each calendar month beginning with the 15th contract month
and ending when the contract is annuitized.

•                  The contract must be in effect through the end of the
calendar month for a trail commission to be paid.

•                  Commissions are based upon purchase payment.

 

PAYOUT PHASE (the period during which an individual receives distributions from
the annuity account)

 

•                  Trail commissions are based on the hypothetical commuted
value (present value of remaining annuity payments) of the annuitized plan
selected. Trail commissions will be payable on the same frequency as the annuity
payments selected by the Contract Owner  (i.e. Contract month, Contract quarter,
etc.).

•                  If there are multiple income streams, there will be multiple
commission streams.

•                  Once payable is halted, trail commissions will also cease.

 

CHARGEBACKS

 

•                  Upfront commissions are subject to 100% chargeback during the
12 months following purchase payment. There are no chargebacks on trail
commissions.

•                  Chargebacks are assessed on full and partial
surrenders/withdrawals and early annuitizations.

•                  The chargeback will be for amounts in excess of the free
amount (the greater of 10% of the purchase payments or 10% of the contract value
at the beginning of the contract year.)

 

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