Amendment No. 1 to Administrative Services Agreement Franklin Templeton Services, LLC National Life Insurance Company
Amendment No. 1 to
Administrative Services Agreement
Franklin Xxxxxxxxx Services, LLC
National Life Insurance Company
THIS AMENDMENT is made by and between Franklin Xxxxxxxxx Services, LLC (the
“Fund Administrator”) and National Life Insurance Company (the “Company”).
WHEREAS, The Company and the Fund Administrator have entered into an
Administrative Services Agreement, dated as of May 1, 2004, as may be amended from time to
time (the “Agreement”), concerning certain administrative services with respect to each series
(“Fund” or “Funds”) of Franklin Xxxxxxxxx Variable Insurance Products Trust (the “Trust”)
listed on the Schedule B of the Agreement;
WHEREAS, the Company and the Fund Administrator wish to amend the Agreement for
the purpose of adding certain new Funds and variable life or variable annuity insurance contracts
covered by the Agreement.
NOW, THEREFORE, in consideration of past and prospective business relations, the
Fund Administrator and the Company hereby amend the Agreement as follows:
1. Schedule B of the Agreement is hereby deleted in its entirety and replaced with the
Schedule B attached hereto.
2. All other terms and provisions of the Agreement not amended herein shall remain in full
force and effect.
This Amendment is executed as of October 30, 2008.
NATIONAL LIFE INSURANCE COMPANY
By: /s/ Xxxxxxxxx X. XxxXxxxx
___________________________________
Name: Xxxxxxxxx X. XxxXxxxx
Title: Vice President – Product Development
FRANKLIN XXXXXXXXX SERVICES, LLC
By: /s/ Xxxxxx Xxxxxx
Name: Xxxxxx Xxxxxx
Title: Vice President
Schedule B
Administrative Expense Payment
The Fund Administrator agrees to pay the Company a fee, computed daily and paid
quarterly in arrears, equal to an annual rate as set forth below, applied to the average daily net
assets of the shares of the Funds held in the subaccounts of the Accounts. The payment will be
computed and paid in the manner described more completely in the Agreement.
Date of | ||||||||||
Product Name/ | Fee | Beginning of | ||||||||
# | Company | Funds of the Trust | Period for | |||||||
Registration No. | Rate | Computation | ||||||||
of Fee | ||||||||||
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1. | National Life | VariTrak Variable | Class 2 shares: | 0.10% | 05/01/04 | |||||
Insurance | Universal Life | Franklin Global Real Estate Securities | ||||||||
Company | Insurance | Fund | ||||||||
33-91938 | Franklin Small-Mid Cap Growth Fund | |||||||||
(VT) 7206 (0395) | Franklin Small Cap Value Securities | |||||||||
Fund | ||||||||||
Mutual Shares Securities Fund | ||||||||||
Xxxxxxxxx Foreign Securities Fund | ||||||||||
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Class 1 shares: | 0.10% | 12/01/08 | ||||||||
Franklin U.S. Government Fund | ||||||||||
Mutual Discovery Securities Fund | ||||||||||
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2. | National Life | Sentinel Estate | Class 2 shares: | 0.10% | 05/01/04 | |||||
Insurance | Provider | Franklin Global Real Estate Securities | ||||||||
Company | Survivorship | Fund | ||||||||
Variable Universal | Franklin Small-Mid Cap Growth Fund | |||||||||
Life Insurance | Franklin Small Cap Value Securities | |||||||||
333-44723 | Fund | |||||||||
(VT) 7461 (1002) | Mutual Shares Securities Fund | |||||||||
Xxxxxxxxx Foreign Securities Fund | ||||||||||
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Class 1 shares: | 0.10% | 12/01/08 | ||||||||
Franklin U.S. Government Fund | ||||||||||
Mutual Discovery Securities Fund | ||||||||||
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3. | National Life | Sentinel Advantage | Class 2 shares: | 0.10% | 05/01/04 | |||||
Insurance | Variable Annuity | Franklin Global Real Estate Securities | ||||||||
Company | 333-19583 | Fund | ||||||||
(VT) 7400 VT (1002) | Franklin Small-Mid Cap Growth | |||||||||
Securities Fund | ||||||||||
Franklin Small Cap Value Securities | ||||||||||
Fund | ||||||||||
Mutual Shares Securities Fund | ||||||||||
Xxxxxxxxx Foreign Securities Fund | ||||||||||
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Class 1 shares: | 0.10% | 12/01/08 | ||||||||
Franklin U.S. Government Fund | ||||||||||
Mutual Discovery Securities Fund |
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Date of | ||||||||||
Product Name/ | Fee | Beginning of | ||||||||
# | Company | Funds of the Trust | Period for | |||||||
Registration No. | Rate | Computation | ||||||||
of Fee | ||||||||||
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4. | National Life | Investor Select | Class 2 shares: | 0.10% | 12/01/08 | |||||
Insurance | Variable Universal | Franklin Global Real Estate Securities | ||||||||
Company | Life | Fund | ||||||||
333-151535 | Franklin Small-Mid Cap Growth | |||||||||
Securities Fund | ||||||||||
Franklin Small Cap Value Securities | ||||||||||
Fund | ||||||||||
Mutual Shares Securities Fund | ||||||||||
Xxxxxxxxx Foreign Securities Fund | ||||||||||
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Class 1 shares: | 0.10% | 12/01/08 | ||||||||
Franklin U.S. Government Fund | ||||||||||
Mutual Discovery Securities Fund |
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