AMENDMENT NO. 1
to the
PARTICIPATION AGREEMENT
AMENDMENT, dated as of January 18, 2001, to the Participation Agreement
dated as of April 9, 1999 (the "Agreement"), by and among Western-Southern Life
Assurance Company (the "Company"), PIMCO Variable Insurance Trust (the "Fund")
and PIMCO Funds Distributors LLC (the "Underwriter").
WHEREAS, the Company, the Fund and the Underwriter wish to revise Section
1.4 of the Agreement;
NOW, THEREFORE, the Company, the Fund and the Distributor hereby agree as
follows:
Section 1.4 of the Agreement is hereby amended, and restated in its
entirety, as follows:
1.4 The Fund shall use its best efforts to make the net asset
value per share for each Designated Portfolio available to the Company
by 6:30 p.m. Eastern Time each Business Day, and in any event, as soon
as reasonably practicable after the net asset value per share for such
Designated Portfolio is calculated, and shall calculate such net asset
value in accordance with the Fund's Prospectus. Neither the Fund, any
Designated Portfolio, the Underwriter, nor any of their affiliates
shall be liable for any information provided to the Company pursuant
to this Agreement which information is based on incorrect information
supplied by the Company or any other Participating Insurance Company
to the Fund or the Underwriter. If the Fund provides the Company with
materially incorrect share net asset value information, the Fund shall
make an adjustment to the number of shares purchased or redeemed for
the Accounts to reflect the correct net asset value per share. Any
material error in the calculation or reporting of net asset value per
share, dividend or capital gains information shall be reported
promptly upon discovery to the Company.
Except as expressly set forth above, all other terms and provisions of the
Agreement shall remain in full force and effect.
IN WITNESS WHEREOF, the parties have caused their duly authorized officers
to execute this Amendment as of the date and year first above written.
PIMCO VARIABLE WESTERN-SOUTHERN LIFE
INSURANCE TRUST ASSURANCE COMPANY
By:__________________________ By:___________________________
Name: Name: Xxxx X. XxXxxxxx
Title: Title: Senior Vice President
PIMCO FUNDS DISTRIBUTORS LLC
By:__________________________
Name:
Title:
