Document:

Exhibit 10.3

 

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:       February 15, 2002

 

 

	
  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.

  

 

 

SCHEDULE A

SCHEDULE OF COMMISSIONS

 

	
  APPLICABLE
  FINANCIAL INSTITUTION:

  	
   

  
	
   

  	
   

  
	
  APPLICABLE
  CONTRACTS:

  	
  Treasury-Linked
  Annuity issued on or after 1/31/02.

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  Allstate
  Financial Treasury-Linked Annuity

  	
   

  
	
   

  	
  Flexible
  Premium Deferred Annuity

  	
   

  
	
   

  	
   

  
	
  Compensation (based on age at premium
  payment);

  	
   

  
	
  Ages 0-80

  	
  5.25% of
  premium

  	
   

  
	
  Ages 81-85

  	
  4.20% of
  premium

  	
   

  
	
  Ages 86-90

  	
  2.625% of
  premium

  	
   

  
	
   

  	
   

  
	
  Chargeback Upon Full or Partial Withdrawal
  (based on period since premium payment):

  
	
   

  	
   

  
	
  Months 1-12

  	
  100% of compensation
  paid on amount withdrawn in excess of the

  
	
   

  	
  “Free
  Withdrawal Amount”

  
	
   

  	
   

  
	
  No Commission Chargebacks upon
  Annuitization

  	
   

  
	
   

  	
   

  
	
   

  	
  Treasury Link-Master at 5.25% 1-31-02Exhibit 10.4

 

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: April 21, 2003

 

 

	
  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.

  

 

 

SCHEDULE A

SCHEDULE OF COMMISSIONS

SERVICE ONLY - EFFECTIVE O4/21/2003

 

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

  	
   

  

 

* 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 receive 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 payout 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.)

•      If contract is surrendered during the
payout phase, the chargeback will apply to any purchase payments(s) made during
the 12 months prior to the date of the surrender.

•      The chargeback is calculated from the date
of the last purchase payment(s) if within 12 months.

 

 

Name:    Citibank,
F.S.B./

Illinois
Participation Agreement – ALIC Only

 

EXHIBIT C

 

PARTICIPATION AGREEMENT

 

This
Participation Agreement is made between Allstate Life Insurance Company (herein
referred to as the “Administrator”), located at 3100 Sanders Road, Northbrook,
Illinois, 60062, Administrator of the Financial Services Group Insurance Trust,
(herein referred to as the “Trust”) and Citibank, F.S.B., located in Chicago,
Illinois (herein referred to as the “Trustee”) and BD (hereinafter, together,
with its affiliates and any successors thereto, referred to as Participant),
the purpose of which is to afford qualifying persons group insurance benefits
of the sort available under said Financial Services Group Insurance Trust.

 

NOW
THEREFORE, in consideration of the mutual promises herein contained, the
parties hereby agree as follows:

 

1.             Subject to the approval of the Insurance
Company, Administrator and Trustee agree to permit the Participant to become a
participant under the Financial Services Group Insurance Trust Agreement.

 

2.             The Participant agrees to be bound by:

a.                    the terms of the Trust Agreement, dated as of
April 23, 1999, for the establishment of the Trust (the “Trust Agreement”) as
the same presently appears in writing and as from time to time amended in
accordance with the provisions thereof (capitalized terms used herein without
definition shall have the meaning  ascribed
thereto in the Trust Agreement); and

b.                   each and every provision of the policy(ies)
of group insurance (and all riders and amendments thereto) issued to the Trust.

 

3.                                       Notices required or permitted shall be given
in writing and delivered in writing by United States Mail, postage prepaid.
Notices to the Administrator or Participant shall be sent to the address
provided on the first page of the Selling Agreement to which this Participation
Agreement is an Exhibit to. Any party may inform the others of a change of
address by written notice pursuant to this paragraph.

 

IN
WITNESS WHEREOF, effective as of the date of the Selling Agreement, the parties
hereto have caused these presents to be executed by their respective officers
as described below:

 

ACCEPTED:

 

	
  CITIBANK,
  F.S.B.

  	
   

  	
   

  
	
  Trustee
  of the Financial Services

  	
   

  	
   

  
	
  Group Insurance Trust

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  BY:

  	
  /S/
  Donald L. Emerson

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  TITLE:

  	
  Trust
  Officer

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  Administrator,
  Financial Services

  	
   

  	
  Participant,
  Financial Services

  
	
  Group Insurance Trust

  	
   

  	
  Group Insurance Trust

  
	
   

  	
   

  	
   

  
	
  Acceptance
  of this Participation

  	
   

  	
  Acceptance
  of this Participation

  
	
  Agreement evidenced by signature on

  	
   

  	
  Agreement evidenced by signature on

  
	
  Selling Agreement

  	
   

  	
  Selling Agreement

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