Contract
FIRST AMENDMENT
TO
FUND PARTICIPATION AGREEMENT
This First Amendment to the Fund Participation Agreement (the “First Amendment) is made
and entered into as of the 30th day of June, 2008 between ING Life Insurance and Annuity Company
(formerly Aetna Life Insurance and Annuity Company) (the “Company”), and Pax World Funds
Series Trust I (formerly Pax World Balanced Fund, Inc). (the “Fund”)
WHEREAS, the Company and the Fund are parties to a Fund Participation Agreement dated
as of August 8, 2000.
WHEREAS, the parties now desire to amend the Agreement to add funds and share classes
available for investment.
NOW, THEREFORE, in consideration of the premises and mutual convents and promises
expressed herein, the parties agree to amend the Agreement as follows:
| 1. | By substituting the following for the Company’s notice address in Section 11. |
| Miscellaneous. (b) Notices.: | |
| To the Company: | |
ING Life Insurance and Annuity Company
Xxx Xxxxxx Xxx, X0X
Xxxxxxx, XX 00000-0000
Attention: Xxxxxxx X. Xxxxxxxx, CFA
000-000-0000
| 2. | By substituting the following for the Fund’s notice address in Section 11. Miscellaneous. (b) Notices.: |
| To the Fund: | |
| Pax World Funds Series Trust I 00 Xxxxxxxxx Xxxxxx, Xxxxx 000 Xxxxxxxxxx, XX 00000 | |
| Attention: Manager, Broker/Dealer Services 000-000-0000 | |
| 3. | By substituting the following address in Section 11. Miscellaneous. (b) Notices.: |
| With a copy to: | |
| Xxxxxxx Xxxxxxxx & Xxxxx, LLP 000 Xxxx Xxxxxx Xxx Xxxx, XX 00000 Attn: Xxxxx X. Lake, Esq. | |
Page 1 of 4
| 4. | By adding Variable Annuity Account I to Schedule A. |
| 3. | By replacing Schedule B with the revised Schedule B attached hereto. |
IN WITNESS WHEREOF, the undersigned have executed this Amendment effective
June 30, 2008.
ING LIFE INSURANCE AND ANNUITY COMPANY
| By: | /s/ Xxxxxxx X. Xxxxx | |
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| Name: | Xxxxxxx Xxxxx | |
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| Title: | President, ILIAC | |
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ING FINANCIAL ADVISERS, LLC
| By: | /s/ Xxxxxxx X. Xxxx | |
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| Name: | Xxxxxxx X. Xxxx | |
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| Title: | V.P. Advisory Services | |
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PAX WORLD FUNDS SERIES TRUST I
| By: | /s/ Xxxxxxx X. Xxxxxx | |
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| Name: Xxxxxxx X. Xxxxxx | ||
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| Title: Secretary | ||
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Page 2 of 4
SCHEDULE B
Fees to the Company
Two types of fees shall be payable to the Company, depending upon the share class of the Fund that is
offered: Servicing Fees and 12b-1 Fees.
1. Service Fees. Administrative services to Contract owners and participants shall be the
responsibility of the Company and shall not be the responsibility of the Fund. The Fund recognizes
the Company as the sole shareholder of Fund shares issued under this Agreement, and that substantial
savings will be derived in administrative expenses, such as significant reductions in postage expense
and shareholder communications, by virtue of having a sole shareholder for each of the Accounts
rather than multiple shareholders. In consideration of the administrative savings resulting from such
arrangement, the Fund agrees to pay the Company a servicing fee at the annual rates noted in the chart
below. These rates are based on the average net assets invested in the Fund through the Contracts in
each calendar quarter. The Fund will make such payments to the Company within thirty (30) days
after the end of each calendar quarter. Each payment will be accompanied by a statement showing the
calculation of the fee payable to the Company for such quarter and such other supporting data as may
reasonably be requested by the Company.
2. 12b-1 Fees. In accordance with the Fund’s plan pursuant to Rule 12b-1 under the Investment
Company Act of 1940, as amended, the Fund will make payments to the Company at the annual rates
noted in the chart below. These rates are based on the average net assets invested in the Fund through
the Contracts in each calendar quarter. The Fund will make such payments to the Company within
thirty (30) days after the end of each calendar quarter. Each payment will be accompanied by a
statement showing the calculation of the fee payable to the Company for such quarter and such other
supporting data as may reasonably be requested by the Company.
| Fees to be received | |
| Fund: | (annual rate): |
|
Pax World Balanced Fund Individual Investor Class |
0.25 % 12b-1 Fees |
|
Pax World Balanced Fund Institutional Class Pax World Balanced Fund R Class |
0.10% Servicing Fees 0.50 % 12b-1 Fees |
|
Pax World Growth Fund Individual Investor Class |
0.25 % 12b-1 Fees |
|
Pax World Growth Fund Institutional Class Pax World Growth Fund R Class |
0.10% Servicing Fees 0.50 % 12b-1 Fees |
|
Pax World High Yield Bond Fund Individual Investor Class |
0.25 % 12b-1 Fees |
|
Pax World High Yield Bond Fund Institutional Class |
0.10% Servicing Fees |
Page 3 of 4
|
Pax World High Yield Bond Fund R Class |
0.50 % 12b-1 Fees |
|
Pax World Value Fund Individual Investor Class |
0.25 % 12b-1 Fees |
|
Pax World Value Fund Institutional Class Pax World Value Fund R Class |
0.10% Servicing Fees 0.50 % 12b-1 Fees |
|
Pax World Women’s Equity Fund Individual Investor Class |
0.25 % 12b-1 Fees |
|
Pax World Women’s Equity Fund Institutional Class Pax World International Fund Individual Investor Class |
0.10% Servicing Fees 0.25 % 12b-1 Fees |
|
Pax World International Fund Institutional Class Pax World International Fund R Class |
0.10% Servicing Fees 0.50 % 12b-1 Fees |
|
Pax World Small Cap Fund Individual Investor Class |
0.25 % 12b-1 Fees |
|
Pax World Small Cap Fund Institutional Class Pax World Small Cap Fund R Class |
0.10% Servicing Fees 0.50 % 12b-1 Fees |
|
Pax World Global Green Fund Individual Investor Class |
0.25 % 12b-1 Fees |
|
Pax World Global Green Fund Institutional Class Pax World Global Green Fund R Class |
0.10% Servicing Fees 0.50 % 12b-1 Fees |
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