FIFTH AMENDMENT TO PARTICIPATION AGREEMENT
Exhibit 8(h)(5)
Amendment No. 5 to Participation Agreement (Vanguard)
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FIFTH AMENDMENT TO PARTICIPATION AGREEMENT
This Amendment to Participation Agreement is dated and effective as of September 1, 2013, by and among VANGUARD VARIABLE INSURANCE FUND (hereinafter the “Fund”), THE VANGUARD GROUP, INC. (hereinafter the “Sponsor”), VANGUARD MARKETING CORPORATION (hereinafter the “Distributor”), and MONUMENTAL LIFE INSURANCE COMPANY (hereinafter the “Company”), on its own behalf and on behalf of each separate account of the Company named in Schedule A hereto as may be revised from time to time (each such account hereinafter referred to as the “Account”). Capitalized terms not otherwise defined herein shall have the meanings ascribed to them in the Agreement.
WHEREAS, the parties hereto have entered into a Participation Agreement dated June 30, 2010 (the “Agreement”) and desire to modify certain provisions of the Agreement;
NOW, THEREFORE, in consideration of the mutual promises, the parties hereto agree as follows:
| 1. | Schedule B of the Agreement is hereby deleted in its entirety and replaced with the first attached Schedule B, which will be effective from September 1, 2013 through December 4, 2013. Effective December 5, 2013, Schedule B of the Agreement will be deleted in its entirety and replaced with the second attached Schedule B. |
| 2. | A new paragraph, numbered consecutively, is added to ARTICLE II. Representations and Warranties, as follows: |
2.15 Fund, Sponsor, and Distributor each agree to promptly notify the Company when any underlying fund becomes a commodity pool operator (“CPO”) as defined under the Commodities Exchange Act (“CEA”), and Sponsor is required to register with the Commodity Futures Trading Commission (“CFTC”) as a CPO with respect to any underlying fund. Until such notification is provided to the Company, Fund and Sponsor and Distributor each represent and warrant that it is not a CPO, and Sponsor represents and warrants it is not required to register as a CPO with respect to any underlying fund. Fund, Sponsor and Distributor each represent and warrant that it will at all times comply with the CEA and CFTC rules and regulations to the extent required.
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All other terms and provisions of the Agreement not amended herein shall remain in full force and effect. Unless otherwise specified, all defined terms shall have the same meaning given to them in the Agreement.
Effective Date: September 1, 2013
| VANGUARD VARIABLE INSURANCE FUND | THE VANGUARD GROUP, INC. | |||||
| By: | /s/ Xxxxx Xxxx | By: | /s/ Xxxxxxx X. Xxxxxx | |||
| Name: | Xxxxx Xxxx | Name: | Xxxxxxx X. Xxxxxx | |||
| Title: | Secretary | Title: | Principal | |||
| Date: | Date: | 11/19/13 | ||||
| VANGUARD MARKETING CORPORATION | MONUMENTAL LIFE INSURANCE COMPANY | |||||
| By: | /s/ Xxxxx Xxxx | By: | /s/ Xxxx X. Xxxxx | |||
| Name: | Xxxxx Xxxx | Name: | Xxxx X. Xxxxx | |||
| Title: | Senior Vice President | Title: | Vice President | |||
| Date: | Date: | 11/27/13 | ||||
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SCHEDULE B
LARGE TRANSACTION AMOUNTS
Effective September 1, 2013 through December 4, 2013
| Portfolio |
Large Transaction Amount | |||
| Money Market Portfolio |
$ | 5,000,000 | ||
| Total Bond Market Index Portfolio |
$ | 1,000,000 | ||
| Total Stock Market Index Portfolio |
$ | 500,000 | ||
| High-Yield Bond Portfolio |
$ | 500,000 | ||
| Short-Term Investment-Grade Portfolio |
$ | 1,000,000 | ||
| Balanced Portfolio |
$ | 1,000,000 | ||
| Diversified Value Portfolio |
$ | 1,000,000 | ||
| Equity Income Portfolio |
$ | 500,000 | ||
| Equity Index Portfolio |
$ | 500,000 | ||
| Growth Portfolio |
$ | 500,000 | ||
| Mid-Cap Index Portfolio |
$ | 200,000 | ||
| REIT Index Portfolio |
$ | 100,000 | ||
| Small Company Growth Portfolio |
$ | 1,000,000 | ||
| International Portfolio |
$ | 1,000,000 | ||
| Capital Growth Portfolio |
$ | 250,000 | ||
| Conservative Allocation Portfolio |
$ | 150,000 | ||
| Moderate Allocation Portfolio |
$ | 150,000 | ||
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SCHEDULE B
LARGE TRANSACTION AMOUNTS
Effective December 5, 2013
| Portfolio |
Large Transaction Amount | |||
| Money Market Portfolio |
$ | 5,000,000 | ||
| Total Bond Market Index Portfolio |
$ | 1,000,000 | ||
| Total Stock Market Index Portfolio |
$ | 500,000 | ||
| High-Yield Bond Portfolio |
$ | 500,000 | ||
| Short-Term Investment-Grade Portfolio |
$ | 1,000,000 | ||
| Balanced Portfolio |
$ | 1,000,000 | ||
| Diversified Value Portfolio |
$ | 1,000,000 | ||
| Equity Income Portfolio |
$ | 500,000 | ||
| Equity Index Portfolio |
$ | 500,000 | ||
| Growth Portfolio |
$ | 500,000 | ||
| Mid-Cap Index Portfolio |
$ | 200,000 | ||
| REIT Index Portfolio |
$ | 200,000 | ||
| Small Company Growth Portfolio |
$ | 1,000,000 | ||
| International Portfolio |
$ | 1,000,000 | ||
| Capital Growth Portfolio |
$ | 250,000 | ||
| Conservative Allocation Portfolio |
$ | 150,000 | ||
| Moderate Allocation Portfolio |
$ | 150,000 | ||
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