AMENDMENT NO. 1 TO PARTICIPATION AGREEMENT
As of May 3, 2004
by and among
Franklin Xxxxxxxxx Variable Insurance Products Trust
Franklin/Xxxxxxxxx Distributors, Inc.
Allianz Life Insurance Company of North America
USAllianz Investor Services, LLC
Franklin Xxxxxxxxx Variable Insurance Products Trust (the "Trust"),
Franklin/Xxxxxxxxx Distributors, Inc. (the "Underwriter," and together with the
Trust, "we" or "us"), Allianz Life Insurance Company of North America ("you"),
and USAllianz Investor Services, LLC, your distributor, on your behalf and on
behalf of certain Accounts, have previously entered into a Participation
Agreement dated October 1, 2003 (the "Agreement"). The parties now desire to
amend the Agreement in this amendment (the "Amendment").
Except as modified hereby, all other terms and conditions of the
Agreement shall remain in full force and effect. Unless otherwise indicated, the
terms defined in the Agreement shall have the same meaning in this Amendment.
AMENDMENT
For good and valuable consideration, the receipt of which is hereby
acknowledged, the parties agree to amend the Agreement as follows:
1. Section 2.1.6 of the Agreement is hereby amended to add the following
sentence at the end of the section:
"Without limiting the foregoing, you agree that in recommending to a
Contract owner the purchase, sale or exchange of any subaccount units
under the Contracts, you shall have reasonable grounds for believing
that the recommendation is suitable for such Contract owner."
2. Section 3 of the Agreement is hereby deleted in its entirety and replaced
with the following Section 3:
"3. PURCHASE AND REDEMPTION OF TRUST PORTFOLIO SHARES
3.1 AVAILABILITY OF TRUST PORTFOLIO SHARES
3.1.1 We will make shares of the Portfolios available
to the Accounts for the benefit of the Contracts. The shares
will be available for
14869-2 1
purchase at the net asset value per share next computed after we (or our agent,
or you as our designee) receive a purchase order, as established in accordance
with the provisions of the then current prospectus of the Trust. All orders are
subject to acceptance by us and by the Portfolio or its transfer agent, and
become effective only upon confirmation by us. Notwithstanding the foregoing,
the Trust's Board of Trustees ("Trustees") may refuse to sell shares of any
Portfolio to any person, or may suspend or terminate the offering of shares of
any Portfolio if such action is required by law or by regulatory authorities
having jurisdiction or if, in the sole discretion of the Trustees, they deem
such action to be in the best interests of the shareholders of such Portfolio.
3.1.2 Without limiting the other provisions of this Section
3.1, among other delegations by the Trustees, the Trustees have determined that
there is a significant risk that the Trust and its shareholders may be adversely
affected by investors with short term trading activity and/or whose purchase and
redemption activity follows a market timing pattern as defined in the prospectus
for the Trust, and have authorized the Trust, the Underwriter and the Trust's
transfer agent to adopt procedures and take other action (including, without
limitation, rejecting specific purchase orders in whole or in part) as they deem
necessary to reduce, discourage, restrict or eliminate such trading and/or
market timing activity. You agree that your purchases and redemptions of
Portfolio shares are subject to, and that you will assist us in implementing,
the Market Timing Trading Policy and Additional Policies (as described in the
Trust's prospectus) and the Trust's restrictions on excessive and/or short term
trading activity and/or purchase and redemption activity that follows a market
timing pattern.
3.1.3 We agree that shares of the Trust will be sold only to
life insurance companies which have entered into fund participation agreements
with the Trust ("Participating Insurance Companies") and their separate accounts
or to qualified pension and retirement plans in accordance with the terms of the
Shared Funding Order. No shares of any Portfolio will be sold to the general
public.
3.2 MANUAL OR AUTOMATED PORTFOLIO SHARE TRANSACTIONS
3.2.1 Section 3.3 of this Agreement shall govern and Section
3.4 shall not be operative, unless we receive from you at the address provided
in the next sentence, written notice that you wish to communicate, process and
settle purchase and redemptions for shares (collectively, "share
transactions") via the Fund/SERV and Networking systems of the National
Securities Clearing Corporation ("NSCC"). The address for you to send such
written notice shall be: Retirement Services, Franklin Xxxxxxxxx Investments,
000 Xxxx Xxxxx, 0" Xxxxx, Xxx Xxxxx, Xxxxxxxxxx 00000-0000. After giving ten
(10) days' advance written notice at the address provided in the previous
sentence of your desire to use NSCC processing, Section 3.4 of this Agreement
shall govern and Section 3.3 shall not be operative.
14869-2 2
3.2.2 At any time when, pursuant to the preceding paragraph,
Section 3.4 of this Agreement governs, any party to this Agreement may send
written notice to the other parties that it chooses to end the use of the NSCC
Fund/SERV and Networking systems and return to manual handling of share
transactions. Such written notice shall be sent: (i) if from you to us, to the
address provided in the preceding paragraph; (ii) if from us to you, to your
address in Schedule G of this Agreement. After giving ten (10) days' advance
written notice at the address as provided in the previous sentence, Section 3.3
of this Agreement shall govern and Section 3.4 shall not be operative.
3.3 MANUAL PURCHASE AND REDEMPTION
3.3.1 You are hereby appointed as our designee for the sole
purpose of receiving from Contract owners purchase and exchange orders and
requests for redemption resulting from investment in and payments under the
Contracts that pertain to subaccounts that invest in Portfolios
("Instructions"). "Business Day" shall mean any day on which the New York Stock
Exchange is open for trading and on which the Trust calculates its net asset
value pursuant to the rules of the SEC and its current prospectus. "Close of
Trading" shall mean the close of trading on the New York Stock Exchange,
generally 4:00 p.m. Eastern Time. You represent and warrant that all
Instructions transmitted to us for processing on or as of a given Business Day
("Day 1") shall have been received in proper form and time stamped by you prior
to the Close of Trading on Day 1. Such Instructions shall receive the share
price next calculated following the Close of Trading on Day 1, provided that we
receive such Instructions from you before 9 a.m. Eastern Time on the next
Business Day ("Day 2"). You represent and warrant that Instructions received in
proper form and time stamped by you after the Close of Trading on Day 1 shall be
treated by you and transmitted to us as if received on Day 2. Such Instructions
shall receive the share price next calculated following the Close of Trading on
Day 2. You represent and warrant that you have, maintain and periodically test,
procedures and systems in place reasonably designed to prevent Instructions
received after the Close of Trading on Day 1 from being executed with
Instructions received before the Close of Trading on Day 1. All Instructions we
receive from you after 9 a.m. Eastern Time on Day 2 shall be processed by us on
the following Business Day and shall receive the share price next calculated
following the Close of Trading on Day 2.
3.3.2 We shall calculate the net asset value per share of each
Portfolio on each Business Day, and shall communicate these net asset values to
you or your designated agent on a daily basis as soon as reasonably practical
after the calculation is completed (normally by 6:30 p.m. Eastern Time).
3.3.3 You shall submit payment for the purchase of shares of a
Portfolio on behalf of an Account in federal funds transmitted by wire to the
Trust or to its designated custodian, which must receive such wires no later
than the
14869-2 3
close of the Reserve Bank, which is 6:00 p.m. Eastern Time, on the Business Day
following the Business Day as of which such purchases orders are made.
3.3.4 We will redeem any full or fractional shares of any
Portfolio, when requested by you on behalf of an Account, at the net asset value
next computed after receipt by us (or our agent or you as our designee) of the
request for redemption, as established in accordance with the provisions of the
then current prospectus of the Trust. We shall make payment for such shares in
the manner we establish from time to time, but in no event shall payment be
delayed for a greater period than is permitted by the 0000 Xxx.
3.3.5 Issuance and transfer of the Portfolio shares will be by
book entry only. Stock certificates will not be issued to you or the Accounts.
Portfolio shares purchased from the Trust will be recorded in the appropriate
title for each Account or the appropriate subaccount of each Account.
3.3.6 We shall furnish, on or before the ex-dividend date,
notice to you of any income dividends or capital gain distributions payable on
the shares of any Portfolio. You hereby elect to receive all such income
dividends and capital gain distributions as are payable on shares of a Portfolio
in additional shares of that Portfolio, and you reserve the right to change this
election in the future. We will notify you of the number of shares so issued as
payment of such dividends and distributions.
3.3.7 Each party to this Agreement agrees that, in the event of
a material error resulting from incorrect information or confirmations, the
parties will seek to comply in all material respects with the provisions of
applicable federal securities laws.
3.4 AUTOMATED PURCHASE AND REDEMPTION
3.4.1 "Fund/SERV" shall mean NSCC's Mutual Fund Settlement,
Entry and Registration Verification System, a system for automated, centralized
processing of mutual fund purchase and redemption orders, settlement, and
account registration; "Networking" shall mean NSCC's system that allows mutual
funds and life insurance companies to exchange account level information
electronically; and "Settling Bank" shall mean the entity appointed by the Trust
or you, as applicable, to perform such settlement services on behalf of the
Trust and you, as applicable, which entity agrees to abide by NSCC's then
current rules and procedures insofar as they relate to same day funds
settlement. In all cases, processing and settlement of share transactions shall
be done in a manner consistent with applicable law.
3.4.2 You are hereby appointed as our designee for the sole
purpose of receiving from Contract owners purchase and exchange orders and
requests for redemption resulting from investment in and payments under the
Contracts that pertain to subaccounts that invest in Portfolios
("Instructions").
14869-2 4
"Business Day" shall mean any day on which the New York Stock Exchange is open
for trading and on which the Trust calculates its net asset value pursuant to
the rules of the SEC and its current prospectus. "Close of Trading" shall mean
the close of trading on the New York Stock Exchange, generally 4:00 p.m. Eastern
Time. Upon receipt of Instructions, and upon your determination that there are
good funds with respect to Instructions involving the purchase of shares, you
will calculate the net purchase or redemption order for each Portfolio.
3.4.3 On each Business Day, you shall aggregate all purchase
and redemption orders for shares of a Portfolio that you received prior to the
Close of Trading. You represent and warrant that all orders for net purchases or
net redemptions derived from Instructions received by you and transmitted to
FundISERV for processing on or as of a given Business Day ("Day 1") shall have
been received in proper form and time stamped by you prior to the Close of
Trading on Day 1. Such orders shall receive the share price next calculated
following the Close of Trading on Day 1, provided that we receive Instructions
from Fund/SERV by 6:30 a.m. Eastern Time on the next Business Day ("Day 2"). You
represent and warrant that orders received in good order and time stamped by you
after the Close of Trading on Day 1 shall be treated by you and transmitted to
Fund/SERV as if received on Day 2. Such orders shall receive the share price
next calculated following the Close of Trading on Day 2. All Instructions we
receive from Fund/SERV after 6:30 a.m. Eastern Time on Day 2 shall be processed
by us on the following Business Day and shall receive the share price next
calculated following the close of trading on Day 2. You represent and warrant
that you have, maintain and periodically test, procedures and systems in place
reasonably designed to prevent orders received after the Close of Trading on Day
1 from being executed with orders received before the Close of Trading on Day 1,
and periodically monitor the systems to determine their effectiveness. Subject
to your compliance with the foregoing, you will be considered the designee of
the Underwriter and the Portfolios, and the Business Day on which Instructions
are received by you in proper form prior to the Close of Trading will be the
date as of which shares of the Portfolios are deemed purchased, exchanged or
redeemed pursuant to such Instructions. Dividends and capital gain distributions
will be automatically reinvested at net asset value in accordance with the
Portfolio's then current prospectus.
3.4.4 We shall calculate the net asset value per share of each
Portfolio on each Business Day, and shall furnish to you through NSCC's
Networking or Mutual Fund Profile System: (i) the most current net asset value
information for each Portfolio; and (ii) in the case of fixed income funds that
declare daily dividends, the daily accrual or the interest rate factor. All such
information shall be furnished to you by 6:30 p.m. Eastern Time on each Business
Day or at such other time as that information becomes available.
3.4.5 You will wire payment for net purchase orders by the
Trust's NSCC Firm Number, in immediately available funds, to an NSCC settling
bank account designated by you in accordance with NSCC rules and procedures on
the
14869-2 5
same Business Day such purchase orders are communicated to NSCC. For purchases
of shares of daily dividend accrual funds, those shares will not begin to accrue
dividends until the day the payment for those shares is received.
3.4.6 We will redeem any full or fractional shares of any
Portfolio, when requested by you on behalf of an Account, at the net asset value
next computed after receipt by us (or our agent or you as our designee) of the
request for redemption, as established in accordance with the provisions of the
then current prospectus of the Trust. NSCC will wire payment for net redemption
orders by the Trust, in immediately available funds, to an NSCC settling bank
account designated by you in accordance with NSCC rules and procedures on the
Business Day such redemption orders are communicated to NSCC, except as provided
in the Trust's prospectus and statement of additional information.
3.4.7 Issuance and transfer of the Portfolio shares will be by
book entry only. Stock certificates will not be issued to you or the Accounts.
Portfolio shares purchased from the Trust will be recorded in the appropriate
title for each Account or the appropriate subaccount of each Account.
3.4.8 We shall furnish through NSCC's Networking or Mutual Fund
Profile System on or before the ex-dividend date, notice to you of any income
dividends or capital gain distributions payable on the shares of any Portfolio.
You hereby elect to receive all such income dividends and capital gain
distributions as are payable on shares of a Portfolio in additional shares of
that Portfolio, and you reserve the right to change this election in the future.
We will notify you of the number of shares so issued as payment of such
dividends and distributions.
3.4.9 All orders are subject to acceptance by Underwriter and
become effective only upon confirmation by Underwriter. Underwriter reserves the
right: (i) not to accept any specific order or part of any order for the
purchase or exchange of shares through Fund/SERV; and (ii) to require any
redemption order or any part of any redemption order to be settled outside of
Fund/SERV, in which case the order or portion thereof shall not be "confirmed"
by Underwriter, but rather shall be accepted for redemption in accordance with
Section 3.4.11 below.
3.4.10 All trades placed through Fund/SERV and confirmed by
Underwriter via FundISERV shall settle in accordance with Underwriter's profile
within Fund/SERV applicable to you. Underwriter agrees to provide you with
account positions and activity data relating to share transactions via
Networking.
3.4.11 If on any specific day you or Underwriter are unable to
meet the NSCC deadline for the transmission of purchase or redemption orders for
that day, a party may at its option transmit such orders and make such payments
for purchases and redemptions directly to you or us, as applicable, as is
otherwise provided in the Agreement; provided, however, that we must receive
14869-2 6
written notification from you by 9:00 a.m. Eastern Time on any day that
you wish to transmit such orders and/or make such payments directly to
us.
3.4.12 In the event that you or we are unable to or
prohibited from electronically communicating, processing or settling
share transactions via Fund/SERV, you or we shall notify the other,
including providing the notification provided above in Section 3.4.11.
After all parties have been notified, you and we shall submit orders
using manual transmissions as are otherwise provided in the Agreement.
3.4.13 These procedures are subject to any additional
terms in each Portfolio's prospectus and the requirements of applicable
law. The Trust reserves the right, at its discretion and without notice,
to suspend the sale of shares or withdraw the sale of shares of any
Portfolio.
3.4.14 Each party to the Agreement agrees that, in the
event of a material error resulting from incorrect information or
confirmations, the parties will seek to comply in all material respects
with the provisions of applicable federal securities laws.
3.4.15 You and Underwriter represent and warrant that
each: (a) has entered into an agreement with NSCC; (b) has met and will
continue to meet all of the requirements to participate in Fund/SERV
and Networking; (c) intends to remain at all times in compliance with
the then current rules and procedures of NSCC, all to the extent
necessary or appropriate to facilitate such communications, processing,
and settlement of share transactions; and (d) will notify the other
parties to this Agreement if there is a change in or a pending failure
with respect to its agreement with NSCC."
3. A new Section 6.7 is hereby added to the Agreement as follows:
"6.7 You agree that any posting of Portfolio prospectuses on
your website will result in the Portfolio prospectuses: (i) appearing
identical to the hard copy printed version; (ii) being clearly
associated with the particular Contracts in which they are available
and posted in close proximity to the applicable Contract prospectuses;
(iii) having no less prominence than prospectuses of any other
underlying funds available under the Contracts; and (iv) being used in
an authorized manner. Notwithstanding the above, you understand and
agree that you are responsible for ensuring that participation in the
Portfolios, and any website posting, or other use, of the Portfolio
prospectuses is in compliance with this Agreement and applicable state
and federal securities and insurance laws and regulations, including as
they relate to paper or electronic use of fund prospectuses. The format
of such presentation, the script and layout for any website that
mentions the Trust, the Underwriter, an Adviser or the Portfolios shall
be routed to us as sales literature or other promotional materials,
pursuant to Section 6 of this Agreement.
14869-2 7
In addition, you agree to be solely responsible for maintaining
and updating the Portfolio prospectuses' PDF files (including prospectus
supplements) and removing and/or replacing promptly any outdated
prospectuses, as necessary, ensuring that any accompanying instructions
by us, for using or stopping use are followed. You agree to designate
and make available to us a person to act as a single point of
communication contact for these purposes. We are not responsible for any
additional costs or additional liabilities that may be incurred as a
result of your election to place the Portfolio prospectuses on your
website. We reserve the right to revoke this authorization, at any time
and for any reason, although we may instead make our authorization
subject to new procedures."
4. A new Section 6.8 is hereby added to the Agreement as follows:
"6.8 Each of your and your distributor's registered
representatives, agents, independent contractors and employees, as
applicable, will have access to our websites at xxxxxxxxxxxxxxxxx.xxx,
and such other URLs through which we may permit you to conduct business
concerning the Portfolios from time to time (referred to collectively
as the "Site") as provided herein: (i) upon registration by such
individual on a Site; (ii) if you cause a Site Access Request Form (an
"Access Form") to be signed by your authorized supervisory personnel
and submitted to us, as a Schedule to, and legally a part of, this
Agreement; or (iii) if you provide such individual with the necessary
access codes or other information necessary to access the Site through
any generic or firm-wide authorization we may grant you from time to
time. Upon receipt by us of a completed registration submitted by an
individual through the Site or a signed Access Form referencing such
individual, we shall be entitled to rely upon the representations
contained therein as if you had made them directly hereunder and we
will issue a user identification, express number and/or password
(collectively, "Access Code"). Any person to whom we issue an Access
Code or to whom you provide the necessary Access Codes or other
information necessary to access the Site through any generic or
firm-wide authorization we may grant you from time to time shall be an
"Authorized User."
We shall be entitled to assume that such person validly
represents you and that all instructions received from such person are
authorized, in which case such person will have access to the Site,
including all services and information to which you are authorized to
access on the Site. All inquiries and actions initiated by you
(including your Authorized Users) are your responsibility, are at your
risk and are subject to our review and approval (which could cause a
delay in processing). You agree that we do not have a duty to question
information or instructions you (including Authorized Users) give to
us under this Agreement, and that we are entitled to treat as
authorized, and act upon, any such instructions and information you
submit to us. You agree to take all reasonable measures to prevent any
individual other than an Authorized User from obtaining access to the
Site. You agree to inform us if you wish to restrict or revoke the
access of any individual Access Code. If you become aware of any loss
or theft or
14869-2 8
unauthorized use of any Access Code, you agree to contact us
immediately. You also agree to monitor your (including Authorized
Users') use of the Site to ensure the terms of this Agreement are
followed. You also agree that you will comply with all policies and
agreements concerning Site usage, including without limitation the Terms
of Use Agreement(s) posted on the Site ("Site Terms"), as may be revised
and reposted on the Site from time to time, and those Site Terms (as in
effect from time to time) are a part of this Agreement. Your duties
under this section are considered "services" required under the terms of
this Agreement. You acknowledge that the Site is transmitted over the
Internet on a reasonable efforts basis and we do not warrant or
guarantee their accuracy, timeliness, completeness, reliability or
non-infringement. Moreover, you acknowledge that the Site is provided
for informational purposes only, and is not intended to comply with any
requirements established by any regulatory or governmental agency."
5. A new paragraph is added at the end of Section 10.8 of the Agreement as
follows:
"Each party to this Agreement agrees to limit the disclosure of
nonpublic personal information of Contract owners consistent with its
policies on privacy with respect to such information and Regulation S-P
of the SEC. Each party hereby agrees that it will comply with all
applicable requirements under the regulations implementing Title V of
the Xxxxx-Xxxxx-Xxxxxx Act and any other applicable federal and state
consumer privacy acts, rules and regulations. Each party further
represents that it has in place, and agrees that it will maintain,
information security policies and procedures for protecting nonpublic
personal customer information adequate to conform to applicable legal
requirements."
6. Schedule D of the Agreement is hereby deleted in its entirety and
replaced with the Schedule D attached hereto.
All other terms and provisions not amended herein shall remain in full force and
effect.
14869-2 9
IN WITNESS WHEREOF, each of the parties have caused their duly authorized
officers to execute this Amendment.
The Company: ALLIANZ LIFE INSURANCE COMPANY OF
------------------------------------
NORTH AMERICA
-------------
By: /S/XXXXXXXXXXX X. XXXXXXXXX
---------------------------------
Name: Xxxxxxxxxxx X. Xxxxxxxxx
Title: Senior Vice President
Distributor for the Company: USALLIANZ INVESTOR SERVICES, LLC
------------------------------------
By:/S/ XXXXXXXXXXX X. XXXXXXXXX
---------------------------------
Name: Xxxxxxxxxxx X. Xxxxxxxxx
Title: President
The Trust: FRANKLIN XXXXXXXXX VARIABLE INSURANCE
-------------------------------------
PRODUCTS TRUST
--------------
ONLY ON BEHALF OF
EACH PORTFOLIO LISTED
ON SCHEDULE C HEREOF.
By:/S/ XXXXX X. XXXXXXXX
---------------------------------
Name: Xxxxx X. Xxxxxxxx
Title: Assistant Vice President
The Underwriter: FRANKLIN/XXXXXXXXX DISTRIBUTORS, INC.
-------------------------------------
By: /S/ XXXXX X. XXX
---------------------------------
Name: Xxxxx X. Xxx
Title: Senior Vice President
14869-2 10
SCHEDULE D
CONTRACTS OF THE COMPANY
---------------------------------------------------------------------------------------------------------------
PRODUCT NAME SEPARATE ACCOUNT NAME
# REGISTERED Y/N REGISTERED Y/N CLASSES OF SHARES AND PORTFOLIOS
1933 ACT #, STATE 1940 ACT #
FORM ID
---------------------------------------------------------------------------------------------------------------
---------------------------------------------------------------------------------------------------------------
01 Allianz Value Life Allianz Variable Account CLASS 1 SHARES:
Yes A ---------------
33-11158 Yes Franklin Global Communications Securities Fund
811-04965 Franklin Growth and Income Securities Fund
Franklin High Income Fund
Franklin Income Securities Fund
Franklin Large Cap Growth Securities Fund
Franklin Real Estate Fund
Franklin Rising Dividends Securities Fund
Franklin Small Cap Fund
Franklin Small Cap Value Securities Fund
Franklin U.S. Government Fund
Franklin Zero Coupon Fund 2005
Franklin Zero Coupon Fund 2010
Mutual Discovery Securities Fund
Mutual Shares Securities Fund
Xxxxxxxxx Developing Markets Securities Fund
Xxxxxxxxx Foreign Securities Fund
Templeton Growth Securities Fund
---------------------------------------------------------------------------------------------------------------
02 USAllianz Alterity Alliance Variable Account CLASS 2 SHARES:
Yes B ---------------
333-82329 Yes Franklin Global Communications Securities Fund
811-05618 Franklin Growth and Income Securities Fund
Franklin High Income Fund
Franklin Income Securities Fund
Franklin Large Cap Growth Securities Fund
Franklin Real Estate Fund
Franklin Rising Dividends Securities Fund
Franklin Small Cap Fund
Franklin Small Cap Value Securities Fund
Franklin U.S. Government Fund
Mutual Discovery Securities Fund
Mutual Shares Securities Fund
Xxxxxxxxx Developing Markets Securities Fund
Xxxxxxxxx Foreign Securities Fund
Xxxxxxxxx Growth Securities Fund
CLASS 1 SHARES:
---------------
Franklin Zero Coupon Fund 2005
Franklin Zero Coupon Fund 2010
14869-2 D-1
---------------------------------------------------------------------------------------------------------------
PRODUCT NAME SEPARATE ACCOUNT NAME
# REGISTERED Y/N REGISTERED Y/N CLASSES OF SHARES AND PORTFOLIOS
1933 ACT #, STATE 1940 ACT #
FORM ID
---------------------------------------------------------------------------------------------------------------
---------------------------------------------------------------------------------------------------------------
03 USAllianz Allianz Variable Account CLASS 2 SHARES:
Dimensions B ---------------
Yes Yes Franklin Global Communications Securities Fund
33-47886 811-05618 Franklin Growth and Income Securities Fund
Franklin High Income Fund
Franklin Income Securities Fund
Franklin Large Cap Growth Securities Fund
Franklin Real Estate Fund
Franklin Rising Dividends Securities Fund
Franklin Small Cap Fund
Franklin Small Cap Value Securities Fund
Franklin U.S. Government Fund
Mutual Discovery Securities Fund
Mutual Shares Securities Fund
Xxxxxxxxx Developing Markets Securities Fund
Xxxxxxxxx Foreign Securities Fund
Xxxxxxxxx Growth Securities Fund
CLASS 1 SHARES:
--------------
Franklin Zero Coupon Fund 2005
Franklin Zero Coupon Fund 2010
---------------------------------------------------------------------------------------------------------------
04 USAllianz Rewards Allianz Variable Account CLASS 2 SHARES:
Yes B ---------------
333-95729 Yes Franklin Global Communications Securities Fund
811-05618 Franklin Growth and Income Securities Fund
Franklin High Income Fund
Franklin Income Securities Fund
Franklin Large Cap Growth Securities Fund
Franklin Real Estate Fund
Franklin Rising Dividends Securities Fund
Franklin Small Cap Fund
Franklin Small Cap Value Securities Fund
Franklin U.S. Government Fund
Mutual Discovery Securities Fund
Mutual Shares Securities Fund
Xxxxxxxxx Developing Markets Securities Fund
Xxxxxxxxx Foreign Securities Fund
Xxxxxxxxx Growth Securities Fund
CLASS 1 SHARES:
---------------
Franklin Zero Coupon Fund 2005
Franklin Zero Coupon Fund 2010
14869-2 D-2
----------------------------------------------------------------------------------------------------------------
PRODUCT NAME SEPARATE ACCOUNT NAME
# REGISTERED Y/N REGISTERED Y/N CLASSES OF SHARES AND PORTFOLIOS
1933 ACT #, STATE 1940 ACT #
FORM ID
----------------------------------------------------------------------------------------------------------------
----------------------------------------------------------------------------------------------------------------
05 Valuemark Charter Allianz Variable Account CLASS 2 SHARES:
Yes B ---------------
333-63719 Yes Franklin Global Communications Securities Fund
811-05618 Franklin Growth and Income Securities Fund
Franklin High Income Fund
Franklin Income Securities Fund
Franklin Large Cap Growth Securities Fund
Franklin Real Estate Fund
Franklin Rising Dividends Securities Fund
Franklin Small Cap Fund
Franklin Small Cap Value Securities Fund
Franklin U.S. Government Fund
Mutual Discovery Securities Fund
Mutual Shares Securities Fund
Xxxxxxxxx Developing Markets Securities Fund
Xxxxxxxxx Foreign Securities Fund
Xxxxxxxxx Growth Securities Fund
CLASS 1 SHARES:
---------------
Franklin Zero Coupon Fund 2005
Franklin Zero Coupon Fund 2010
----------------------------------------------------------------------------------------------------------------
06 Valuemark II Allianz Variable Account CLASS 1 SHARES:
Yes B ---------------
33-23035 Yes Franklin Global Communications Securities Fund
811-05618 Franklin Growth and Income Securities Fund
Franklin High Income Fund
Franklin Income Securities Fund
Franklin Large Cap Growth Securities Fund
Franklin Real Estate Fund
Franklin Rising Dividends Securities Fund
Franklin Small Cap Fund
Franklin Small Cap Value Securities Fund
Franklin U.S. Government Fund
Franklin Zero Coupon Fund 2005
Franklin Zero Coupon Fund 2010
Mutual Discovery Securities Fund
Mutual Shares Securities Fund
Xxxxxxxxx Developing Markets Securities Fund
Xxxxxxxxx Foreign Securities Fund
Xxxxxxxxx Growth Securities Fund
14869-2 D-3
---------------------------------------------------------------------------------------------------------------
PRODUCT NAME SEPARATE ACCOUNT NAME
# REGISTERED Y/N REGISTERED Y/N CLASSES OF SHARES AND PORTFOLIOS
1933 ACT #, STATE 1940 ACT #
FORM ID
---------------------------------------------------------------------------------------------------------------
---------------------------------------------------------------------------------------------------------------
07 Valuemark III Allianz Variable Account CLASS I SHARES:
Yes B ---------------
33-72046 Yes Franklin Global Communications Securities Fund
811-05618 Franklin Growth and Income Securities Fund
Franklin High Income Fund
Franklin Income Securities Fund
Franklin Large Cap Growth Securities Fund
Franklin Real Estate Fund
Franklin Rising Dividends Securities Fund
Franklin Small Cap Fund
Franklin Small Cap Value Securities Fund
Franklin U.S. Government Fund
Franklin Zero Coupon Fund 2005
Franklin Zero Coupon Fund 2010
Mutual Discovery Securities Fund
Mutual Shares Securities Fund
Xxxxxxxxx Developing Markets Securities Fund
Xxxxxxxxx Foreign Securities Fund
Xxxxxxxxx Growth Securities Fund
---------------------------------------------------------------------------------------------------------------
08 Valuemark Income Allianz Variable Account CLASS 1 SHARES:
Plus B ---------------
Yes Yes Franklin Global Communications Securities Fund
33-76190 811-05618 Franklin Growth and Income Securities Fund
Franklin High Income Fund
Franklin Income Securities Fund
Franklin Large Cap Growth Securities Fund
Franklin Real Estate Fund
Franklin Rising Dividends Securities Fund
Franklin Small Cap Fund
Franklin Small Cap Value Securities Fund
Franklin U.S. Government Fund
Franklin Zero Coupon Fund 2005
Franklin Zero Coupon Fund 2010
Mutual Discovery Securities Fund
Mutual Shares Securities Fund
Xxxxxxxxx Developing Markets Securities Fund
Xxxxxxxxx Foreign Securities Fund
Xxxxxxxxx Growth Securities Fund
14869-2 D-4
---------------------------------------------------------------------------------------------------------------
PRODUCT NAME SEPARATE ACCOUNT NAME
# REGISTERED Y/N REGISTERED Y/N CLASSES OF SHARES AND PORTFOLIOS
1933 ACT #, STATE 1940 ACT #
FORM ID
---------------------------------------------------------------------------------------------------------------
---------------------------------------------------------------------------------------------------------------
09 Valuemark IV Allianz Variable Account CLASS 1 SHARES:
Yes B ---------------
333-06709 Yes Franklin Global Communications Securities Fund
811-05618 Franklin Growth and Income Securities Fund
Franklin High Income Fund
Franklin Income Securities Fund
Franklin Large Cap Growth Securities Fund
Franklin Real Estate Fund
Franklin Rising Dividends Securities Fund
Franklin Small Cap Fund
Franklin Small Cap Value Securities Fund
Franklin U.S. Government Fund
Franklin Zero Coupon Fund 2005
Franklin Zero Coupon Fund 2010
Mutual Discovery Securities Fund
Mutual Shares Securities Fund
Xxxxxxxxx Developing Markets Securities Fund
Xxxxxxxxx Foreign Securities Fund
Xxxxxxxxx Growth Securities Fund
---------------------------------------------------------------------------------------------------------------
10 Valuemark Life Allianz Variable Account CLASS 1 SHARES:
Yes A ---------------
33-15464 Yes Franklin Global Communications Securities Fund
811-04965 Franklin Growth and Income Securities Fund
Franklin High Income Fund
Franklin Income Securities Fund
Franklin Large Cap Growth Securities Fund
Franklin Real Estate Fund
Franklin Rising Dividends Securities Fund
Franklin Small Cap Fund
Franklin Small Cap Value Securities Fund
Franklin U.S. Government Fund
Franklin Zero Coupon Fund 2005
Franklin Zero Coupon Fund 2010
MUTUAL Discovery Securities Fund
Mutual Shares Securities Fund
Xxxxxxxxx Developing Markets Securities Fund
Xxxxxxxxx Foreign Securities Fund
Xxxxxxxxx Growth Securities Fund
14869-2 D-5
----------------------------------------------------------------------------------------------------------------
PRODUCT NAME SEPARATE ACCOUNT NAME
# REGISTERED Y/N REGISTERED Y/N CLASSES OF SHARES AND PORTFOLIOS
1933 ACT #, STATE 1940 ACT #
FORM ID
----------------------------------------------------------------------------------------------------------------
11. USAllianz Life Fund Allianz Variable Account CLASS 2 SHARES:
Yes A ---------------
333-60206 Yes Franklin Global Communications Securities Fund
811-04965 Franklin Growth and Income Securities Fund
Franklin High Income Fund
Franklin Income Securities Fund
Franklin Large Cap Growth Securities Fund
Franklin Real Estate Fund
Franklin Rising Dividends Securities Fund
Franklin Small Cap Fund
Franklin Small Cap Value Securities Fund
Franklin U.S. Government Fund
Mutual Discovery Securities Fund
Mutual Shares Securities Fund
Xxxxxxxxx Developing Markets Securities Fund
Xxxxxxxxx Foreign Securities Fund
Xxxxxxxxx Growth Securities Fund
CLASS 1 SHARES:
---------------
Franklin Zero Coupon Fund 2005
Franklin Zero Coupon Fund 2010
----------------------------------------------------------------------------------------------------------------
12. USAllianz High Five Allianz Variable Account CLASS 2 SHARES:
---------------
Yes B Franklin Global Communications Securities Fund
333-90260 Yes Franklin Growth and Income Securities Fund
811-05618 Franklin High Income Fund
Franklin Income Securities Fund
Franklin Large Cap Growth Securities Fund
Franklin Real Estate Fund
Franklin Rising Dividends Securities Fund
Franklin Small Cap Fund
Franklin Small Cap Value Securities Fund
Franklin U.S. Government Fund
Mutual Discovery Securities Fund
Mutual Shares Securities Fund
Xxxxxxxxx Developing Markets Securities Fund
Xxxxxxxxx Foreign Securities Fund
Xxxxxxxxx Growth Securities Fund
CLASS 1 SHARES:
---------------
Franklin Zero Coupon Fund 2005
Franklin Zero Coupon Fund 2010
14869-2 D-6
----------------------------------------------------------------------------------------------------------------
PRODUCT NAME SEPARATE ACCOUNT NAME
# REGISTERED Y/N REGISTERED Y/N CLASSES OF SHARES AND PORTFOLIOS
1933 ACT #, STATE 1940 ACT #
FORM ID
----------------------------------------------------------------------------------------------------------------
----------------------------------------------------------------------------------------------------------------
13. USAllianz Charter II Allianz Variable Account CLASS 2 SHARES:
Yes B ---------------
333-101812 Yes Franklin Global Communications Securities Fund
811-05618 Franklin Growth and Income Securities Fund
Franklin High Income Fund
Franklin Income Securities Fund
Franklin Large Cap Growth Securities Fund
Franklin Real Estate Fund
Franklin Rising Dividends Securities Fund
Franklin Small Cap Fund
Franklin Small Cap Value Securities Fund
Franklin U.S. Government Fund
Mutual Discovery Securities Fund
Mutual Shares Securities Fund
Xxxxxxxxx Developing Markets Securities Fund
Xxxxxxxxx Foreign Securities Fund
Xxxxxxxxx Growth Securities Fund
CLASS 1 SHARES:
---------------
Franklin Zero Coupon Fund 2005
Franklin Zero Coupon Fund 2010
----------------------------------------------------------------------------------------------------------------
14. USAllianz High Five Allianz Variable Account CLASS 2 SHARES:
Bonus B ---------------
Yes Yes Franklin Global Communications Securities Fund
333-111049 811-05618 Franklin Growth and Income Securities Fund
Franklin High Income Fund
Franklin Income Securities Fund
Franklin Large Cap Growth Securitie Fund
Franklin Real Estate Fund
Franklin Rising Dividends Securities Fund
Franklin Small Cap Fund
Franklin Small Cap Value Securities Fund
Franklin U.S. Government Fund
Mutual Discovery Securities Fund
Mutual Shares Securities Fund
Xxxxxxxxx Developing Markets Securities Fund
Xxxxxxxxx Foreign Securities Fund
Xxxxxxxxx Growth Securities Fund
CLASS 1 SHARES:
---------------
Franklin Zero Coupon Fund 2005
Franklin Zero Coupon Fund 2010
14869-2 D-7
AMENDMENT NO. 2 TO PARTICIPATION AGREEMENT
As of April 29, 2005
by and among
Franklin Xxxxxxxxx Variable Insurance Products Trust
Franklin/Xxxxxxxxx Distributors, Inc.
Allianz Life Insurance Company of North America
USAllianz Investor Services, LLC
Franklin Xxxxxxxxx Variable Insurance Products Trust (the "Trust"),
Franklin/Xxxxxxxxx Distributors, Inc. (the "Underwriter," and together with the
Trust, "we" or "us"), Allianz Life Insurance Company of North America ("you"),
and USAllianz Investor Services, LLC, your distributor, on your behalf and on
behalf of certain Accounts, have previously entered into a Participation
Agreement dated October 1, 2003 and subsequently xxxxxx Xxxxx 30, 2004 (the
"Agreement"). The parties now desire to further amend the Agreement in this
amendment (the "Amendment").
Except as modified hereby, all other terms and conditions of the
Agreement shall remain in full force and effect. Unless otherwise indicated, the
terms defined in the Agreement shall have the same meaning in this Amendment.
AMENDMENT
For good and valuable consideration, the receipt of which is hereby
acknowledged, the parties agree to amend the Agreement as follows:
Schedule D of the Agreement is hereby deleted in its entirety and
replaced with the Schedule D attached hereto.
All other terms and provisions not amended herein shall remain in full
force and effect.
This Amendment is executed effective as of April 29, 2005.
32358-2 1
IN WITNESS WHEREOF, each of the parties have caused their duly
authorized officers to execute this Amendment.
The Company: ALLIANZ LIFE INSURANCE COMPANY OF NORTH
---------------------------------------
AMERICA
-------
By: /S/XXXXXXX XXXXX
-----------------------------------
Name: Xxxxxxx X. Xxxxx
Title: 2nd VP and Senior Counsel
Distributor for the Company: USALLIANZ INVESTOR SERVICES, LLC
--------------------------------
By:/S/ XXXXXXX XXXXXX
-----------------------------------
Name: Xxxxxxx Xxxxxx
Title: Sr. VP Advisory Management
The Trust: FRANKLIN XXXXXXXXX VARIABLE INSURANCE
-------------------------------------
PRODUCTS TRUST
--------------
ONLY ON BEHALF OF
EACH PORTFOLIO LISTED
ON SCHEDULE C HEREOF.
By:/S/ XXXXX X. XXXXXXXX
-----------------------------------
Name: Xxxxx X. Xxxxxxxx
Title: Assistant Vice President
The Underwriter: FRANKLIN/XXXXXXXXX DISTRIBUTORS, INC.
-------------------------------------
By: /S/ XXXXX X. XXX
-----------------------------------
Name: Xxxxx X. Xxx
Title: Senior Vice President
32358-2 2
SCHEDULE D
CONTRACTS OF THE COMPANY
-------------------------------------------------------------------------------------------------------------------
PRODUCT NAME SEPARATE ACCOUNT NAME
# REGISTERED Y/N REGISTERED Y/N CLASSES OF SHARES AND PORTFOLIOS
1933 ACT #, STATE 1940 ACT #
FORM ID
-------------------------------------------------------------------------------------------------------------------
-------------------------------------------------------------------------------------------------------------------
01 Allianz Value Life Allianz Variable CLASS 1 SHARES:
Yes Account A ---------------
33-11158 Yes Franklin Global Communications Securities Fund
811-04965 Franklin Growth and Income Securities Fund
Franklin High Income Fund
Franklin Income Securities Fund
Franklin Large Cap Growth Securities Fund
Franklin Real Estate Fund
Franklin Rising Dividends Securities Fund
Franklin Small-Mid Cap Growth Securities Fund
Franklin Small Cap Value Securities Fund
Franklin U.S. Government Fund
Franklin Zero Coupon Fund 2005 *
Franklin Zero Coupon Fund 2010
Mutual Discovery Securities Fund
Mutual Shares Securities Fund
Xxxxxxxxx Developing Markets Securities Fund
Xxxxxxxxx Foreign Securities Fund
Xxxxxxxxx Growth Securities Fund
-------------------------------------------------------------------------------------------------------------------
02 USAllianz Alterity Alliance Variable CLASS 2 SHARES:
Yes Account B ---------------
333-82329 Yes Franklin Global Communications Securities Fund
811-05618 Franklin Growth and Income Securities Fund
Franklin High Income Fund
Franklin Income Securities Fund
Franklin Large Cap Growth Securities Fund
Franklin Real Estate Fund
Franklin Rising Dividends Securities Fund
Franklin Small-Mid Cap Growth Securities Fund
Franklin Small Cap Value Securities Fund
Franklin U.S. Government Fund
Mutual Discovery Securities Fund
Mutual Shares Securities Fund
Xxxxxxxxx Developing Markets Securities Fund
Xxxxxxxxx Foreign Securities Fund
Xxxxxxxxx Growth Securities Fund
CLASS 1 SHARES:
---------------
Franklin Zero Coupon Fund 2005 *
Franklin Zero Coupon Fund 2010
* Franklin Zero Coupon Fund 2005 will be maturing on 12/16/05 and it will be
unavailable for investment after that time.
32358-2 3
------------------------------------------------------------------------------------------------------------------
PRODUCT NAME SEPARATE ACCOUNT NAME
# REGISTERED Y/N REGISTERED Y/N CLASSES OF SHARES AND PORTFOLIOS
1933 ACT #, STATE 1940 ACT #
FORM ID
-------------------------------------------------------------------------------------------------------------------
-------------------------------------------------------------------------------------------------------------------
03 USAllianz Dimensions Allianz Variable CLASS 2 SHARES:
Yes Account B ---------------
33-47886 Yes Franklin Global Communications Securities Fund
811-05618 Franklin Growth and Income Securities Fund
Franklin High Income Fund
Franklin Income Securities Fund
Franklin Large Cap Growth Securities Fund
Franklin Real Estate Fund
Franklin Rising Dividends Securities Fund
Franklin Small-Mid Cap Growth Securities Fund
Franklin Small Cap Value Securities Fund
Franklin U.S. Government Fund
Mutual Discovery Securities Fund
Mutual Shares Securities Fund
Xxxxxxxxx Developing Markets Securities Fund
Xxxxxxxxx Foreign Securities Fund
Xxxxxxxxx Growth Securities Fund
CLASS 1 SHARES:
---------------
Franklin Zero Coupon Fund 2005 *
Franklin Zero Coupon Fund 2010
-------------------------------------------------------------------------------------------------------------------
04 USAllianz Rewards Allianz Variable CLASS 2 SHARES:
Yes Account B ---------------
333-95729 Yes Franklin Global Communications Securities Fund
811-05618 Franklin Growth and Income Securities Fund
Franklin High Income Fund
Franklin Income Securities Fund
Franklin Large Cap Growth Securities Fund
Franklin Real Estate Fund
Franklin Rising Dividends Securities Fund
Franklin Small-Mid Cap Growth Securities Fund
Franklin Small Cap Value Securities Fund
Franklin U.S. Government Fund
Mutual Discovery Securities Fund
Mutual Shares Securities Fund
Xxxxxxxxx Developing Markets Securities Fund
Xxxxxxxxx Foreign Securities Fund
Xxxxxxxxx Growth Securities Fund
CLASS 1 SHARES:
---------------
Franklin Zero Coupon Fund 2005 *
Franklin Zero Coupon Fund 2010
* Franklin Zero Coupon Fund 2005 will be maturing on 12/16/05 and it will be
unavailable for investment after that time.
32358-2 4
------------------------------------------------------------------------------------------------------------------
PRODUCT NAME SEPARATE ACCOUNT NAME
# REGISTERED Y/N REGISTERED Y/N CLASSES OF SHARES AND PORTFOLIOS
1933 ACT #, STATE 1940 ACT #
FORM ID
-------------------------------------------------------------------------------------------------------------------
-------------------------------------------------------------------------------------------------------------------
05 Valuemark Charter Allianz Variable CLASS 2 SHARES:
Yes Account B ---------------
333-63719 Yes Franklin Global Communications Securities Fund
811-05618 Franklin Growth and Income Securities Fund
Franklin High Income Fund
Franklin Income Securities Fund
Franklin Large Cap Growth Securities Fund
Franklin Real Estate Fund
Franklin Rising Dividends Securities Fund
Franklin Small-Mid Cap Growth Securities Fund
Franklin Small Cap Value Securities Fund
Franklin U.S. Government Fund
Mutual Discovery Securities Fund
Mutual Shares Securities Fund
Xxxxxxxxx Developing Markets Securities Fund
Xxxxxxxxx Foreign Securities Fund
Xxxxxxxxx Growth Securities Fund
CLASS 1 SHARES:
---------------
Franklin Zero Coupon Fund 2005 *
Franklin Zero Coupon Fund 2010
-------------------------------------------------------------------------------------------------------------------
06 Valuemark II Allianz Variable CLASS 1 SHARES:
Yes Account B ---------------
33-23035 Yes Franklin Global Communications Securities Fund
811-05618 Franklin Growth and Income Securities Fund
Franklin High Income Fund
Franklin Income Securities Fund
Franklin Large Cap Growth Securities Fund
Franklin Real Estate Fund
Franklin Rising Dividends Securities Fund
Franklin Small-Mid Cap Growth Securities Fund
Franklin Small Cap Value Securities Fund
Franklin U.S. Government Fund
Franklin Zero Coupon Fund 2005 *
Franklin Zero Coupon Fund 2010
Mutual Discovery Securities Fund
Mutual Shares Securities Fund
Xxxxxxxxx Developing Markets Securities Fund
Xxxxxxxxx Foreign Securities Fund
Xxxxxxxxx Growth Securities Fund
* Franklin Zero Coupon Fund 2005 will be maturing on 12/16/05 and it will be
unavailable for investment after that time.
32358-2 5
-------------------------------------------------------------------------------------------------------------------
PRODUCT NAME SEPARATE ACCOUNT NAME
# REGISTERED Y/N REGISTERED Y/N CLASSES OF SHARES AND PORTFOLIOS
1933 ACT #, STATE 1940 ACT #
FORM ID
-------------------------------------------------------------------------------------------------------------------
-------------------------------------------------------------------------------------------------------------------
07 Valuemark III Allianz Variable CLASS 1 SHARES:
Yes Account B ---------------
33-72046 Yes Franklin Global Communications Securities Fund
811-05618 Franklin Growth and Income Securities Fund
Franklin High Income Fund
Franklin Income Securities Fund
Franklin Large Cap Growth Securities Fund
Franklin Real Estate Fund
Franklin Rising Dividends Securities Fund
Franklin Small-Mid Cap Growth Securities Fund
Franklin Small Cap Value Securities Fund
Franklin U.S. Government Fund
Franklin Zero Coupon Fund 2005 *
Franklin Zero Coupon Fund 2010
Mutual Discovery Securities Fund
Mutual Shares Securities Fund
Xxxxxxxxx Developing Markets Securities Fund
Xxxxxxxxx Foreign Securities Fund
Xxxxxxxxx Growth Securities Fund
-------------------------------------------------------------------------------------------------------------------
08 Valuemark Income Plus Allianz Variable CLASS 1 SHARES:
Yes Account B ---------------
33-76190 Yes Franklin Global Communications Securities Fund
811-05618 Franklin Growth and Income Securities Fund
Franklin High Income Fund
Franklin Income Securities Fund
Franklin Large Cap Growth Securities Fund
Franklin Real Estate Fund
Franklin Rising Dividends Securities Fund
Franklin Small-Mid Cap Growth Securities Fund
Franklin Small Cap Value Securities Fund
Franklin U.S. Government Fund
Franklin Zero Coupon Fund 2005 *
Franklin Zero Coupon Fund 2010
Mutual Discovery Securities Fund
Mutual Shares Securities Fund
Xxxxxxxxx Developing Markets Securities Fund
Xxxxxxxxx Foreign Securities Fund
Xxxxxxxxx Growth Securities Fund
* Franklin Zero Coupon Fund 2005 will be maturing on 12/16/05 and it will be
unavailable for investment after that time.
32358-2 6
-------------------------------------------------------------------------------------------------------------------
PRODUCT NAME SEPARATE ACCOUNT NAME
# REGISTERED Y/N REGISTERED Y/N CLASSES OF SHARES AND PORTFOLIOS
1933 ACT #, STATE 1940 ACT #
FORM ID
-------------------------------------------------------------------------------------------------------------------
-------------------------------------------------------------------------------------------------------------------
09 Valuemark IV Allianz Variable CLASS 1 SHARES:
Yes Account B ---------------
333-06709 Yes Franklin Global Communications Securities Fund
811-05618 Franklin Growth and Income Securities Fund
Franklin High Income Fund
Franklin Income Securities Fund
Franklin Large Cap Growth Securities Fund
Franklin Real Estate Fund
Franklin Rising Dividends Securities Fund
Franklin Small-Mid Cap Growth Securities Fund
Franklin Small Cap Value Securities Fund
Franklin U.S. Government Fund
Franklin Zero Coupon Fund 2005 *
Franklin Zero Coupon Fund 2010
Mutual Discovery Securities Fund
Mutual Shares Securities Fund
Xxxxxxxxx Developing Markets Securities Fund
Xxxxxxxxx Foreign Securities Fund
Xxxxxxxxx Growth Securities Fund
-------------------------------------------------------------------------------------------------------------------
10 Valuemark Life Allianz Variable CLASS 1 SHARES:
Yes Account A ---------------
33-15464 Yes Franklin Global Communications Securities Fund
811-04965 Franklin Growth and Income Securities Fund
Franklin High Income Fund
Franklin Income Securities Fund
Franklin Large Cap Growth Securities Fund
Franklin Real Estate Fund
Franklin Rising Dividends Securities Fund
Franklin Small-Mid Cap Growth Securities Fund
Franklin Small Cap Value Securities Fund
Franklin U.S. Government Fund
Franklin Zero Coupon Fund 2005 *
Franklin Zero Coupon Fund 2010
Mutual Discovery Securities Fund
Mutual Shares Securities Fund
Xxxxxxxxx Developing Markets Securities Fund
Xxxxxxxxx Foreign Securities Fund
Xxxxxxxxx Growth Securities Fund
* Franklin Zero Coupon Fund 2005 will be maturing on 12/16/05 and it will be
unavailable for investment after that time.
32358-2 7
---------------------------------------------------------------------------------------------------------------
PRODUCT NAME SEPARATE ACCOUNT NAME
# REGISTERED Y/N REGISTERED Y/N CLASSES OF SHARES AND PORTFOLIOS
1933 ACT #, STATE 1940 ACT #
FORM ID
---------------------------------------------------------------------------------------------------------------
---------------------------------------------------------------------------------------------------------------
11. USAllianz Life Fund Allianz Variable CLASS 2 SHARES:
Yes Account A ---------------
333-60206 Yes Franklin Global Communications Securities Fund
811-04965 Franklin Growth and Income Securities Fund
Franklin High Income Fund
Franklin Income Securities Fund
Franklin Large Cap Growth Securities Fund
Franklin Real Estate Fund
Franklin Rising Dividends Securities Fund
Franklin Small-Mid Cap Growth Securities Fund
Franklin Small Cap Value Securities Fund
Franklin U.S. Government Fund
Mutual Discovery Securities Fund
Mutual Shares Securities Fund
Xxxxxxxxx Developing Markets Securities Fund
Xxxxxxxxx Foreign Securities Fund
Xxxxxxxxx Growth Securities Fund
CLASS 1 SHARES:
---------------
Franklin Zero Coupon Fund 2005 *
Franklin Zero Coupon Fund 2010
---------------------------------------------------------------------------------------------------------------
12. USAllianz High Five Allianz Variable CLASS 2 SHARES:,
Yes Account B ----------------
333-90260 Yes Franklin Global Communications Securities Fund
811-05618 Franklin Growth and Income Securities Fund
Franklin High Income Fund
Franklin Income Securities Fund
Franklin Large Cap Growth Securities Fund
Franklin Real Estate Fund
Franklin Rising Dividends Securities Fund
Franklin Small-Mid Cap Growth Securities Fund
Franklin Small Cap Value Securities Fund
Franklin U.S. Government Fund
Mutual Discovery Securities Fund
Mutual Shares Securities Fund
Xxxxxxxxx Developing Markets Securities Fund
Xxxxxxxxx Foreign Securities Fund
Xxxxxxxxx Growth Securities Fund
CLASS 1 SHARES:
---------------
Franklin Zero Coupon Fund 2005 *
Franklin Zero Coupon Fund 2010
* Franklin Zero Coupon Fund 2005 will be maturing on 12/16/05 and it will be
unavailable for investment after that time.
32358-2 8
-------------------------------------------------------------------------------------------------------------------
PRODUCT NAME SEPARATE ACCOUNT NAME
# REGISTERED Y/N REGISTERED Y/N CLASSES OF SHARES AND PORTFOLIOS
1933 ACT #, STATE 1940 ACT #
FORM ID
-------------------------------------------------------------------------------------------------------------------
-------------------------------------------------------------------------------------------------------------------
13. USAllianz Charter II Allianz Variable CLASS 2 SHARES:
Yes Account B ---------------
333-101812 Yes Franklin Global Communications Securities Fund
811-05618 Franklin Growth and Income Securities Fund
Franklin High Income Fund
Franklin Income Securities Fund
Franklin Large Cap Growth Securities Fund
Franklin Real Estate Fund
Franklin Rising Dividends Securities Fund
Franklin Small-Mid Cap Growth Securities Fund
Franklin Small Cap Value Securities Fund
Franklin U.S. Government Fund
Mutual Discovery Securities Fund
Mutual Shares Securities Fund
Xxxxxxxxx Developing Markets Securities Fund
Xxxxxxxxx Foreign Securities Fund
Xxxxxxxxx Growth Securities Fund
CLASS 1 SHARES:
---------------
Franklin Zero Coupon Fund 2005 *
Franklin Zero Coupon Fund 2010
* Franklin Zero Coupon Fund 2005 will be maturing on 12/16/05 and it will be
unavailable for investment after that time.
32358-2 9
-------------------------------------------------------------------------------------------------------------------
PRODUCT NAME SEPARATE ACCOUNT NAME
# REGISTERED Y/N REGISTERED Y/N CLASSES OF SHARES AND PORTFOLIOS
1933 ACT #, STATE 1940 ACT #
FORM ID
-------------------------------------------------------------------------------------------------------------------
14. USAllianz High Five Allianz Variable CLASS 2 SHARES:
Bonus Account B ---------------
Yes Yes Franklin Global Communications Securities Fund
333-111049 811-05618 Franklin Growth and Income Securities Fund
Franklin High Income Fund
Franklin Income Securities Fund
Franklin Large Cap Growth Securities Fund
Franklin Real Estate Fund
Franklin Rising Dividends Securities Fund
Franklin Small-Mid Cap Growth Securities Fund
Franklin Small Cap Value Securities Fund
Franklin U.S. Government Fund
Mutual Discovery Securities Fund
Mutual Shares Securities Fund
Templeton Developing Markets Securities Fund
Templeton Foreign Securities Fund
Templeton Growth Securities Fund
CLASS 1 SHARES:
---------------
Franklin Zero Coupon Fund 2005 *
Franklin Zero Coupon Fund 2010
-------------------------------------------------------------------------------------------------------------------
15. USAllianz High Five L Allianz Variable CLASS 2 SHARES:
Yes Account B ---------------
333-111049 Yes Franklin Global Communications Securities Fund
811-05618 Franklin Growth and Income Securities Fund
Franklin High Income Fund
Franklin Income Securities Fund
Franklin Large Cap Growth Securities Fund
Franklin Real Estate Fund
Franklin Rising Dividends Securities Fund
Franklin Small-Mid Cap Growth Securities Fund
Franklin Small Cap Value Securities Fund
Franklin U.S. Government Fund
Mutual Discovery Securities Fund
Mutual Shares Securities Fund
Templeton Developing Markets Securities Fund
Templeton Foreign Securities Fund
Templeton Growth Securities Fund
CLASS 1 SHARES:
---------------
Franklin Zero Coupon Fund 2005 *
Franklin Zero Coupon Fund 2010
* Franklin Zero Coupon Fund 2005 will be maturing on 12/16/05 and it will be
unavailable for investment after that time.
32358-2 10
AMENDMENT NO. 3 TO PARTICIPATION AGREEMENT
As of May 1, 2006
by and among
Franklin Xxxxxxxxx Variable Insurance Products Trust Franklin/Xxxxxxxxx
Distributors, Inc.
Allianz Life Insurance Company of North America
ALLIANZ Life Financial Services, LLC
(formerly USAllianz Investor Services, LLC)
FRANKLIN Xxxxxxxxx Variable Insurance Products Trust (the "Trust"),
Franklin/Xxxxxxxxx Distributors, Inc. (the "Underwriter," and together with the
Trust, "we" or "us"), ALLIANZ Life Insurance Company of North America ("you"),
and ALLIANZ Life Financial Services, LLC (formerly "USAllianz Investor Services,
LLC"), your distributor, on your behalf and on behalf of certain Accounts, have
previously entered into a Participation Agreement dated October 1, 2003 and
amended as of May 3, 2004 and April 29, 2005 (the "Agreement"). The parties now
desire to further amend the Agreement in this amendment (the "Amendment").
Except as modified hereby, all other terms and conditions of the
Agreement and earlier amendments, shall REMAIN in full force and effect. Unless
otherwise indicated, the terms defined in the Agreement shall have the same
meaning in this Amendment.
AMENDMENT
For good and valuable consideration, the receipt of which is hereby
acknowledged, the parties agree to amend the Agreement as follows:
1. Schedules B, C and D of the Agreement is hereby deleted in their entirety and
replaced with the Schedules B, C and D attached hereto, respectively. 2. All
other terms and provisions not amended herein shall remain in full force and
effect.
41494-2 1
IN WITNESS WHEREOF, each of the parties has caused their duly authorized
officers to execute this Amendment.
The Company: ALLIANZ LIFE INSURANCE COMPANY OF NORTH
---------------------------------------
AMERICA
-------
By: /S/XXXXXXX XXXXX
-----------------------------------
Name: Xxxxxxx X. Xxxxx
Title: 2nd VP and Senior Securities Counsel
Distributor for the Company: USALLIANZ INVESTOR SERVICES, LLC
--------------------------------
By:/S/ XXXXXXX XXXXXX
-----------------------------------
Name: Xxxxxxx Xxxxxx
Title: Sr. VP Advisory Management
The Trust: FRANKLIN XXXXXXXXX VARIABLE INSURANCE
-------------------------------------
PRODUCTS TRUST
--------------
ONLY ON BEHALF OF
EACH PORTFOLIO LISTED
ON SCHEDULE C HEREOF.
By:/S/ XXXXX X. XXXXXXXX
-----------------------------------
Name: Xxxxx X. Xxxxxxxx
Title: Vice President
The Underwriter: FRANKLIN/XXXXXXXXX DISTRIBUTORS, INC.
-------------------------------------
By: /S/ XXXXXX X. XXXX
-----------------------------------
Name: Xxxxxx X. Xxxx
Title: Senior Vice President
41494-2 2
SCHEDULE B
ACCOUNTS OF THE COMPANY
1. Name: Allianz Life Variable Account A
Date Established: May 31, 1985
SEC Registration Number: 811-04965
2. Name: Allianz Life Variable Account B
Date Established: May 31, 1985
SEC Registration Number: 811-05618
41494-2 3
SCHEDULE C
AVAILABLE PORTFOLIOS AND CLASSES OF SHARES OF THE TRUST; INVESTMENT ADVISERS
FRANKLIN XXXXXXXXX VARIABLE INSURANCE PRODUCTS TRUST
----------------------------------------------------
CLASS 1 & CLASS 2 SHARES INVESTMENT ADVISER
------------------------ ------------------
Franklin Global Communications Securities Fund Franklin Advisers, Inc.
Franklin Growth and Income Securities Fund Franklin Advisers, Inc.
Franklin High Income Fund Franklin Advisers, Inc.
Franklin Income Securities Fund Franklin Advisers, Inc.
Franklin Large Cap Growth Securities Fund Franklin Advisers, Inc.
Franklin Money Market Fund Franklin Advisers, Inc.
Franklin Real Estate Fund Franklin Advisers, Inc.
Franklin Rising Dividend Securities Fund Franklin Advisory Services, LLC
Franklin Small Cap Value Securities Fund Franklin Advisory Services, LLC
Franklin Small-Mid Cap Growth Secuities Fund Franklin Advisers, Inc.
Franklin U.S. Government Fund Franklin Advisers, Inc.
Mutual Discovery Securities Fund Franklin Mutual Advisers, LLC
Mutual Shares Securities Fund Franklin Mutual Advisers, LLC
Templeton Developing Markets Securities Fund Xxxxxxxxx Asset Management Ltd.
Templeton Foreign Securities Fund Xxxxxxxxx Investment Counsel, Inc.
Templeton Global Asset Allocation Fund Xxxxxxxxx Investment Counsel, Inc.
Templeton Global Income Securities Fund Franklin Advisers, Inc.
Templeton Growth Securities Fund Xxxxxxxxx Global Advisors Limited
CLASS 1 SHARES
--------------
Franklin Zero Coupon Fund 2010 Franklin Advisers, Inc.
41494-2 4
SCHEDULE D
CONTRACTS OF THE COMPANY
---------------------------------------------------------------------------------------------------------------
PRODUCT NAME SEPARATE ACCOUNT NAME
# REGISTERED Y/N REGISTERED Y/N CLASSES OF SHARES AND PORTFOLIOS
1933 ACT NO. 1940 ACT #
---------------------------------------------------------------------------------------------------------------
---------------------------------------------------------------------------------------------------------------
01 Allianz Value Life Allianz Life Variable CLASS 1 SHARES:
Yes . Account A ---------------
33-11158 Yes Franklin. Global Communications Securities Fund
811-04965 Franklin Growth and Income Securities Fund
Franklin High Income Fund
Franklin Income Securities Fund
Franklin Large Cap Growth Securities Fund
Franklin Real Estate Fund
Franklin Rising Dividends Securities Fund
Franklin Small-Mid Cap Growth Securities Fund
Franklin Small Cap Value Securities Fund
Franklin U.S. Government Fund
Franklin Zero Coupon Fund 2010
Mutual Discovery Securities Fund
Mutual Shares Securities Fund
Templeton Developing Markets Securities Fund
Templeton Foreign Securities Fund
Templeton Growth Securities Fund
---------------------------------------------------------------------------------------------------------------
02 Allianz Alterity Allianz Life Variable CLASS 2 SHARES:
Yes Account B ---------------
333-82329 Yes Franklin Global Communications Securities Fund
811-05618. Franklin Growth and Income Securities Fund
Franklin High Income Fund
Franklin Income Securities Fund
Franklin Large Cap Growth Securities Fund
Franklin Real Estate Fund
Franklin Rising Dividends Securities Fund
Franklin Small-Mid Cap Growth Securities Fund
Franklin Small Cap Value Securities Fund
Franklin U.S. Government Fund
Mutual Discovery Securities Fund
Mutual Shares Securities Fund
Templeton Developing Markets Securities Fund
Templeton Foreign Securities Fund
Templeton Growth Securities Fund
CLASS 1 SHARES:
Franklin Zero Coupon Fund 2010
---------------------------------------------------------------------------------------------------------------
PRODUCT NAME SEPARATE ACCOUNT NAME
# REGISTERED Y/N REGISTERED Y/N CLASSES OF SHARES AND PORTFOLIOS
1933 ACT NO. 1940 ACT #
---------------------------------------------------------------------------------------------------------------
---------------------------------------------------------------------------------------------------------------
03 Allianz Dimensions Allianz Life Variable CLASS 2 SHARES:
Yes Account B ---------------
33-47886 Yes Franklin Global Communications Securities Fund
811-05618 Franklin Growth and Income Securities Fund
Franklin High Income Fund
Franklin Income Securities Fund
Franklin Large Cap Growth Securities Fund
Franklin Real Estate Fund
Franklin Rising Dividends Securities Fund
Franklin Small-Mid Cap Growth Securities Fund
Franklin Small Cap Value Securities Fund
Franklin U.S. Government Fund
Mutual Discovery Securities Fund
Mutual Shares Securities Fund
Templeton Developing Markets Securities Fund
Templeton Foreign Securities Fund
Templeton Growth Securities Fund
CLASS 1 SHARES:
Franklin Zero Coupon Fund 2010
---------------------------------------------------------------------------------------------------------------
04 Allianz Rewards Allianz Life Variable CLASS 2 SHARES:
Yes Account B ---------------
333-95729 Yes Franklin Global Communications Securities Fund
811-05618 Franklin Growth and Income Securities Fund
Franklin High Income Fund
Franklin Income Securities Fund
Franklin Large Cap Growth Securities Fund
Franklin Real Estate Fund
Franklin Rising Dividends Securities Fund
Franklin Small-Mid Cap Growth Securities Fund
Franklin Small Cap Value Securities Fund
Franklin U.S. Government Fund
Mutual Discovery Securities Fund
Mutual Shares Securities Fund
Templeton Developing Markets Securities Fund
Templeton Foreign Securities Fund
Templeton Growth Securities Fund
CLASS 1 SHARES:
Franklin Zero Coupon Fund 2010
41494-2 6
---------------------------------------------------------------------------------------------------------------
PRODUCT NAME SEPARATE ACCOUNT NAME
# REGISTERED Y/N REGISTERED Y/N CLASSES OF SHARES AND PORTFOLIOS
1933 ACT NO. 1940 ACT #
---------------------------------------------------------------------------------------------------------------
---------------------------------------------------------------------------------------------------------------
05 Allianz Charter Allianz Life Variable CLASS 2 SHARES:
Yes Account B ---------------
333-63719 Yes Franklin Global Communications Securities Fund
811-05618 Franklin Growth and Income Securities Fund
Franklin High Income Fund
Franklin Income Securities Fund
Franklin Large Cap Growth Securities Fund
Franklin Real Estate Fund
Franklin Rising Dividends Securities Fund
Franklin Small-Mid Cap Growth Securities Fund
Franklin Small Cap Value Securities Fund
Franklin U.S. Government Fund
Mutual Discovery Securities Fund
Mutual Shares Securities Fund
Templeton Developing Markets Securities Fund
Templeton Foreign Securities Fund
Templeton Growth Securities Fund
CLASS 1 SHARES:
---------------
Franklin Zero Coupon Fund 2010
---------------------------------------------------------------------------------------------------------------
06 Valuemark II Allianz Life Variable CLASS 1 SHARES:
Yes Account B ---------------
33-23035 Yes Franklin Global Communications Securities Fund
811-05618 Franklin Growth and Income Securities Fund
Franklin High Income Fund
Franklin Income Securities Fund
Franklin Large Cap Growth Securities Fund
Franklin Real Estate Fund
Franklin Rising Dividends Securities Fund
Franklin Small-Mid Cap Growth Securities Fund
Franklin Small Cap Value Securities Fund
Franklin U.S. Government Fund
Franklin Zero Coupon Fund 2010
Mutual Discovery Securities Fund
Mutual Shares Securities Fund
Templeton Developing Markets Securities Fund
Templeton Foreign Securities Fund
Templeton Growth Securities Fund
41494-2 7
---------------------------------------------------------------------------------------------------------------
PRODUCT NAME SEPARATE ACCOUNT NAME
# REGISTERED Y/N REGISTERED Y/N CLASSES OF SHARES AND PORTFOLIOS
1933 ACT NO. 1940 ACT #
---------------------------------------------------------------------------------------------------------------
---------------------------------------------------------------------------------------------------------------
07 Valuemark HI Allianz Life Variable CLASS 1 SHARES:
Yes Account B ---------------
33-72046 Yes Franklin Global Communications Securities Fund
811-05618 Franklin Growth and Income Securities Fund
Franklin High Income Fund
Franklin Income Securities Fund
Franklin Large Cap Growth Securities Fund
Franklin Real Estate Fund
Franklin Rising Dividends Securities Fund
Franklin Small-Mid Cap Growth Securities Fund
Franklin Small Cap Value Securities Fund
Franklin U.S. Government Fund
Franklin Zero Coupon Fund 2010
Mutual Discovery Securities Fund
Mutual Shares Securities Fund
Templeton Developing Markets Securities Fund
Templeton Foreign Securities Fund
Templeton Growth Securities Fund
---------------------------------------------------------------------------------------------------------------
08 Valuemark Income Plus Allianz Life Variable CLASS 1 SHARES:
Yes Account B ---------------
33-76190 Yes Franklin Global Communications Securities Fund
811-05618 Franklin Growth and Income Securities Fund
Franklin High Income Fund
Franklin Income Securities Fund
Franklin Large Cap Growth Securities Fund
Franklin Real Estate Fund
Franklin Rising Dividends Securities Fund
Franklin Small-Mid Cap Growth Securities Fund
Franklin Small Cap Value Securities Fund
Franklin U.S. Government Fund
Franklin Zero Coupon Fund 2010
Mutual Discovery Securities Fund
Mutual Shares Securities Fund
Templeton Developing Markets Securities Fund
Templeton Foreign Securities Fund
Templeton Growth Securities Fund
41494-2 8
---------------------------------------------------------------------------------------------------------------
PRODUCT NAME SEPARATE ACCOUNT NAME
# REGISTERED Y/N REGISTERED Y/N CLASSES OF SHARES AND PORTFOLIOS
1933 ACT NO. 1940 ACT #
---------------------------------------------------------------------------------------------------------------
---------------------------------------------------------------------------------------------------------------
09 Valuemark IV Allianz Life Variable CLASS 1 SHARES:
Yes Account B ---------------
333-06709 Yes Franklin Global Communications Securities Fund
811-05618 Franklin Growth and Income Securities Fund
Franklin High Income Fund
Franklin Income Securities Fund
Franklin Large Cap Growth Securities Fund
Franklin Real Estate Fund
Franklin Rising Dividends Securities Fund
Franklin Small-Mid Cap(.) Growth Securities Fund
Franklin Small Cap Value Securities Fund
Franklin U.S. Government Fund
Franklin Zero Coupon Fund 2010
Mutual Discovery Securities Fund
Mutual Shares Securities Fund
Templeton Developing Markets Securities Fund
Templeton Foreign Securities Fund
Templeton Growth Securities Fund
---------------------------------------------------------------------------------------------------------------
10 Valuemark Life Allianz Life Variable CLASS 1 SHARES:
Yes Account A ---------------
33-15464 Yes Franklin Global Communications Securities Fund
811-04965 Franklin Growth and Income Securities Fund
Franklin High Income Fund
Franklin Income Securities Fund
Franklin Large Cap Growth Securities Fund
Franklin Real Estate Fund
Franklin Rising Dividends Securities Fund
Franklin Small-Mid Cap Growth Securities Fund
Franklin Small Cap Value Securities Fund
Franklin U.S. Government Fund
Franklin Zero Coupon Fund 2010
Mutual Discovery Securities Fund
Mutual Shares Securities Fund
Templeton Developing Markets Securities Fund
Templeton Foreign Securities Fund
Templeton Growth Securities Fund
41494-2 9
---------------------------------------------------------------------------------------------------------------
PRODUCT NAME SEPARATE ACCOUNT NAME
# REGISTERED Y/N REGISTERED Y/N CLASSES OF SHARES AND PORTFOLIOS
1933 ACT NO. 1940 ACT #
---------------------------------------------------------------------------------------------------------------
---------------------------------------------------------------------------------------------------------------
11. Allianz Life Fund Allianz Life Variable CLASS 2 SHARES:
Yes Account A ---------------
333-60206 Yes Franklin Global Communications Securities Fund
811-04965 Franklin Growth and Income Securities Fund
Franklin High Income Fund
Franklin Income Securities Fund
Franklin Large Cap Growth Securities Fund
Franklin Real Estate Fund
Franklin Rising Dividends Securities Fund
Franklin Small-Mid Cap Growth Securities Fund
Franklin Small Cap Value Securities Fund
Franklin U.S. Government Fund
Mutual Discovery Securities Fund
Mutual Shares Securities Fund
Xxxxxxxxx Developing Markets Securities Fund
Xxxxxxxxx Foreign Securities Fund
Templeton Growth Securities Fund
CLASS 1 SHARES:
---------------
Franklin Zero Coupon Fund 2010
---------------------------------------------------------------------------------------------------------------
12. Allianz High Five Allianz Life Variable CLASS 2 SHARES:
Yes Account B ---------------
333-90260 Yes Franklin Global Communications Securities Fund
811-05618 Franklin Growth and Income Securities Fund
Franklin High Income Fund
Franklin. Income Securities Fund
Franklin Large Cap Growth Securities Fund
Franklin Real Estate Fund
Franklin Rising Dividends Securities Fund
Franklin Small-Mid Cap Growth Securities Fund
Franklin Small Cap Value Securities Fund
Franklin U.S. Government Fund
Mutual Discovery Securities Fund
Mutual Shares Securities Fund
Xxxxxxxxx Developing Markets Securities Fund
Xxxxxxxxx Foreign Securities Fund
Xxxxxxxxx Growth Securities Fund
CLASS 1 SHARES:
---------------
Franklin Zero Coupon Fund 2010
41494-2 10
---------------------------------------------------------------------------------------------------------------
PRODUCT NAME SEPARATE ACCOUNT NAME
# REGISTERED Y/N REGISTERED Y/N CLASSES OF SHARES AND PORTFOLIOS
1933 ACT NO. 1940 ACT #
---------------------------------------------------------------------------------------------------------------
---------------------------------------------------------------------------------------------------------------
13. Allianz Charter II Allianz Life Variable CLASS 2 SHARES:
Yes Account B ---------------
333-101812 Yes Franklin Global Communications Securities Fund
811-05618 Franklin Growth and Income Securities Fund
Franklin. High Income Fund
Franklin Income Securities Fund
Franklin Large Cap Growth Securities Fund
Franklin Real Estate Fund
Franklin Rising Dividends Securities Fund
Franklin Small-Mid Cap Growth Securities Fund
Franklin Small Cap Value Securities Fund
Franklin U.S. Government Fund
Mutual Discovery Securities Fund
Mutual Shares Securities Fund
Xxxxxxxxx Developing Markets Securities Fund
Xxxxxxxxx Foreign Securities Fund
Xxxxxxxxx Growth Securities Fund
CLASS 1 SHARES:
---------------
Franklin Zero Coupon Fund 2010
---------------------------------------------------------------------------------------------------------------
14. Allianz High Five Allianz Life Variable CLASS 2 SHARES:
Bonus Account B ---------------
Yes Yes Franklin Global Communications Securities Fund
333-111049 811-05618 Franklin Growth and Income Securities Fund
Franklin High Income Fund
Franklin Income Securities Fund
Franklin Large Cap Growth Securities Fund
Franklin Real Estate Fund
Franklin Rising Dividends Securities Fund
Franklin Small-Mid Cap Growth Securities Fund
Franklin Small Cap Value Securities Fund
Franklin U.S. Government Fund
Mutual Discovery Securities Fund
Mutual Shares Securities Fund
Xxxxxxxxx Developing Markets Securities Fund
Xxxxxxxxx Foreign Securities Fund
Xxxxxxxxx Growth Securities Fund
CLASS 1 SHARES:
---------------
Franklin Zero Coupon Fund 2010
41494-2 11
---------------------------------------------------------------------------------------------------------------
PRODUCT NAME SEPARATE ACCOUNT NAME
# REGISTERED Y/N REGISTERED Y/N CLASSES OF SHARES AND PORTFOLIOS
1933 ACT NO. 1940 ACT #
---------------------------------------------------------------------------------------------------------------
---------------------------------------------------------------------------------------------------------------
15. Allianz High Five L Allianz Life Variable CLASS 2 SHARES:
Yes Account B ---------------
333-120181 Yes Franklin Global Communications Securities Fund
811-05618 Franklin Growth and Income Securities Fund
Franklin High Income Fund
Franklin Income Securities Fund
Franklin Large Cap Growth Securities Fund
Franklin Real Estate Fund
Franklin Rising Dividends Securities Fund
Franklin Small-Mid Cap Growth Securities Fund
Franklin Small Cap Value Securities Fund
Franklin U.S. Government Fund
Mutual Discovery Securities Fund
Mutual Shares Securities Fund
Xxxxxxxxx Developing Markets Securities Fund
Xxxxxxxxx Foreign Securities Fund
Xxxxxxxxx Growth Securities Fund
CLASS 1 SHARES:
---------------
Franklin Zero Coupon Fund 2010
---------------------------------------------------------------------------------------------------------------
16. Allianz Custom Income Allianz Life Variable CLASS 2 SHARES:
Yes Account B ---------------
333-126217 Yes Franklin Income Securities Fund
811-05618 Franklin U.S. Government Fund
Mutual Shares Securities Fund
Xxxxxxxxx Foreign Securities Fund
41494-2 12
