Distribution and Service Expenses. Each Portfolio shall pay to the Distributor a fee in the amount specified in Article III hereof as compensation for distribution of Class L shares and for providing or arranging for the provision of services to Class L shareholders (which, for purposes of the Plan, include beneficial owners of Class L shares). Such fee may be spent by the Distributor on any activities or expenses primarily intended to result in the sale of Class L shares of the Portfolio and/or for providing or arranging for the provision of services to the Portfolio’s Class L shareholders, including, but not limited to: (a) compensation to and expenses, including overhead and telephone expenses, of employees of Distributor engaged in the distribution of Class L shares; (b) printing and mailing of prospectuses, statements of additional information, and reports for existing and prospective investors of Class L shares; (c) compensation to broker/dealers and other financial intermediaries to pay or reimburse them for their services or expenses in connection with the distribution or servicing of Class L shares; (d) expenses relating to the development, preparation, printing, and mailing of Fund advertisements, sales literature, and other promotional materials describing and/or relating to the Portfolio; (e) expenses of holding seminars and sales meetings designed to promote the distribution of Class L shares; (f) expenses of obtaining information and providing explanations to investors regarding Portfolio investment objectives and policies and other information about the Portfolio, including performance; (g) expenses of training sales personnel regarding the Portfolio; (h) expenses of compensating sales personnel in connection with the sale of Class L shares of the Portfolio; (i) expenses of personal services and/or maintenance of shareholder accounts with respect to Class L shares attributable to such accounts; (j) compensation to broker/dealers and other financial intermediaries to pay or reimburse them for their services or expenses in connection with the education of individual retirement account (“XXX”) owners regarding the Portfolio at rollover and assisting in the enrollment process with respect to the Portfolio; and (k) compensation to providers of IRAs that offer the Portfolio on their platforms to pay or reimburse them for their services or expenses in connection with providing services with respect to Class L shares and/or for the ongoing cost of participation on the platform. Beneficial owners of Class L shares may include, without limitation, owners of variable annuities and variable life insurance policies having one or more Portfolios as investment options (“Variable Contracts”), owners of IRAs, or participants in participant-directed retirement or college savings plans having one or more Portfolios as investment options. Financial intermediaries may include, without limitation, insurance companies that issue Variable Contracts, the distributors of the Variable Contracts, IRA custodians or trustees, plan administrators, or a designee of any such persons that provides the services described above.
Appears in 2 contracts
Samples: Distribution Agreement (Great-West Funds Inc), Distribution Agreement (Maxim Series Fund Inc)
Distribution and Service Expenses. Each Portfolio shall pay to the Distributor a fee in the amount specified in Article III hereof as compensation for distribution of Class L shares and for providing or arranging for the provision of services to Class L shareholders (which, for purposes of the Plan, include beneficial owners of Class L shares)shareholders. Such fee may be spent by the Distributor on any activities or expenses primarily intended to result in the sale of Class L shares of the Portfolio and/or for providing or arranging for the provision of services to the Portfolio’s Class L shareholders, including, but not limited to:
(a) compensation to and expenses, including overhead and telephone expenses, of employees of Distributor engaged in the distribution of Class L shares;
(b) printing and mailing of prospectuses, statements of additional information, and reports for existing and prospective investors of Class L shares;
(c) compensation to broker/dealers and other financial intermediaries to pay or reimburse them for their services or expenses in connection with the distribution or servicing of Class L shares;
(d) expenses relating to the development, preparation, printing, and mailing of Fund advertisements, sales literature, and other promotional materials describing and/or relating to the Portfolio;
(e) expenses of holding seminars and sales meetings designed to promote the distribution of Class L shares;
(f) expenses of obtaining information and providing explanations to investors regarding Portfolio investment objectives and policies and other information about the Portfolio, including performance;
(g) expenses of training sales personnel regarding the Portfolio;
(h) expenses of compensating sales personnel in connection with the sale of Class L shares of the Portfolio;
(i) expenses of personal services and/or maintenance of shareholder accounts with respect to Class L shares attributable to such accounts;
(j) compensation to broker/dealers and other financial intermediaries to pay or reimburse them for their services or expenses in connection with the education of individual retirement account (“XXX”) owners regarding the Portfolio at rollover and assisting in the enrollment process with respect to the Portfolio; and
(k) compensation to providers of IRAs individual retirement accounts that offer the Portfolio on their platforms to pay or reimburse them for their services or expenses in connection with providing services with respect to Class L shares and/or for the ongoing cost of participation on the platform. Beneficial owners of Class L shares may include, without limitation, owners of variable annuities and variable life insurance policies having one or more Portfolios as investment options (“Variable Contracts”), owners of IRAs, or participants in participant-directed retirement or college savings plans having one or more Portfolios as investment options. Financial intermediaries may include, without limitation, insurance companies that issue Variable Contracts, the distributors of the Variable Contracts, IRA custodians or trustees, plan administrators, or a designee of any such persons that provides the services described above.
Appears in 2 contracts
Samples: Distribution Agreement (Maxim Series Fund Inc), Distribution Agreement (Maxim Series Fund Inc)