Common use of Administrative Services and Expenses Clause in Contracts

Administrative Services and Expenses. The Company has entered or will enter into a Participation Agreement with, among others, Rydex Distributors, Inc. (distributor for the Trust) and the Trust, as may be amended from time to time (the “Participation Agreement”) pursuant to which the Company purchases shares of the Trust for the separate accounts identified in the Participation Agreement (the “Accounts”). Administrative services for the Accounts which invest in the Trust and for purchasers of the variable annuity and/or variable life insurance contracts (the “Contracts”) issued through the Accounts are the responsibility of the Company. Administrative services for the Trust, in which the Accounts invest, and for purchasers of shares of the Trust are the responsibility of the Trust. XXXXX recognizes the Company, on behalf of the Accounts, as the shareholder of shares of the Trust purchased under the Participation Agreement. XXXXX further recognizes that the Trust will derive a substantial savings in administrative expenses by virtue of having the Company as a single shareholder of record of shares of the Trust rather than multiple shareholders having record ownership of such shares. The administrative and other services provided by the Company from which the Trust will derive such savings are set forth in Schedule A to this letter agreement.

Administrative Services and Expenses. The Company has entered or will enter into a Participation Agreement with, among others, Rydex Distributors, Inc. (distributor for the Trust) and the Trust, as may be amended from time to time (the “"Participation Agreement”") pursuant to which the Company purchases shares of the Trust for the separate accounts identified in the Participation Agreement (the “"Accounts”"). Administrative services for the Accounts which invest in the Trust and for purchasers of the variable annuity and/or variable life insurance contracts (the “"Contracts”") issued through the Accounts are the responsibility of the Company. Administrative services for the Trust, in which the Accounts invest, and for purchasers of shares of the Trust are the responsibility of the Trust. XXXXX PADCO recognizes the Company, on behalf of the Accounts, as the shareholder of shares of the Trust purchased under the Participation Agreement. XXXXX PADCO further recognizes that the Trust will derive a substantial savings in administrative expenses by virtue of having the Company as a single shareholder of record of shares of the Trust rather than multiple shareholders having record ownership of such shares. The administrative and other services provided by the Company from which the Trust will derive such savings are set forth in Schedule A to this letter agreement.