XXX XXXXXX LIFE INVESTMENT TRUST
SHAREHOLDER INFORMATION AGREEMENT
THIS AGREEMENT, dated as of March 16, 2007, is by and between Xxx Xxxxxx Funds
Inc. ("Fund Agent") and the financial intermediary whose name appears on the
signature page of this Agreement ("Intermediary"). Fund Agent is entering into
this Agreement on behalf of Xxx Xxxxxx Life Investment Trust, including any
separate series or portfolios thereof, whether existing at the date of this
Agreement or established subsequent hereto (each, a "Fund," and, collectively,
the "Funds").
WITNESSETH:
WHEREAS, SEC Rule 22c-2 (the "Rule") under the Investment Company Act of 1940,
as amended (the "Investment Company Act"), requires every mutual fund company or
its principal underwriter to enter into written agreements with financial
intermediaries (as defined by the Rule), obligating each financial intermediary,
to (i) provide the fund company, upon request, with specific shareholder
identification and transaction information, and (ii) execute any instructions
from the fund company to block trading of fund shares by shareholders who have
been identified as engaging in transactions of fund shares that violate the fund
company's market-timing and short-term trading policies;
WHEREAS, Fund Agent is the principal underwriter and distributor for the Funds;
and
WHEREAS, Intermediary is either (i) a broker, dealer, bank, or other entity that
holds securities of record issued by a fund in nominee name; (ii) in the case of
a participant-directed employee benefit plan that owns securities issued by a
Fund (1) a retirement plan administrator under ERISA or (2) an entity that
maintains the plan's participant records; or (iii) an insurance company separate
account.
NOW, THEREFORE, in consideration of the mutual covenants contained in this
Agreement, the parties hereto, intending to be legally bound, hereby agree and
declare as follows:
A. DEFINITIONS. As used in this Agreement, the following terms shall have the
following meanings, unless a different meaning is clearly required by the
contexts:
1. The term "Fund" shall mean an open-end management investment company that
is registered or required to register under section 8 of the Investment
Company Act of 1940 and includes (i) an investment adviser to or
administrator for the Funds; (ii) the principal underwriter or distributor
for the Funds; or (iii) the transfer agent for the Funds. The term not does
include any "excepted funds" as defined in SEC Rule 22c-2(b) under the
Investment Company Act of 1Act.(1)
2. The term "Shares" means the interests of Shareholders corresponding to the
redeemable securities of record issued by the Fund under the Investment
Company Act that are held by the Intermediary.
3. The term "Shareholder" means the holder of interests in a variable annuity
or variable life insurance contract issued by the Intermediary
("Contract"), or a participant in an employee benefit plan with a
beneficial interest in a contract.
4. The term "Shareholder-Initiated Transfer Purchase" means a transaction that
is initiated or directed by a Shareholder that results in a transfer of
assets within a Contract to a Fund, but does not include transactions that
are executed: (i) automatically pursuant to a contractual or systematic
program or enrollment such as transfer of assets within a Contract to a
Fund as a result of "dollar cost averaging" programs, insurance company
approved asset allocation programs, or automatic rebalancing programs; (ii)
pursuant to a Contract death benefit; (iii) one-time step-up in Contract
value pursuant to a Contract death benefit; (iv) allocation of assets to a
Fund through a Contract as a result of payments such as loan repayments,
scheduled contributions, retirement plan salary reduction contributions, or
planned premium payments to the Contract; or (v) pre-arranged transfers at
the conclusion of a required free look period.
5. The term "Shareholder-Initiated Transfer Redemption" means a transaction
that is initiated or directed by a Shareholder that results in a transfer
of assets within a Contract out of a Fund, but does not include
transactions that are executed: (i) automatically pursuant to a contractual
or systematic program or enrollments such as transfers of assets within a
Contract out of a Fund as a result of annuity payouts, loans, systematic
withdrawal programs, asset allocation programs and automatic rebalancing
programs; (ii) as a result of any deduction of charges or fees under a
Contract; (iii) within a Contract out of a Fund as a result of scheduled
withdrawals or surrenders from a Contract; or (iv) as a result of payment
of a death benefit from a Contract.
6. The term "written" includes electronic writings and facsimile
transmissions.
B. AGREEMENT TO PROVIDE SHAREHOLDER INFORMATION. Intermediary agrees to
provide the Fund, upon written request, the taxpayer identification number
("TIN"), the Individual/International Taxpayer Identification Number
("ITIN")*, or other government-issued identifier ("GII") and the Contract
owner number or participant account number associated with the Shareholder,
if known, of any or all Shareholder(s) of the account, and the amount, date
and transaction type (purchase, redemption, transfer, or exchange) of every
purchase, redemption, transfer, or exchange of Shares held through an
account maintained by the Intermediary during the period covered by the
request. Unless otherwise specifically requested by the Fund, this section
shall be read to require Intermediary to provide only that information
relating to Shareholder-Initiated Transfer Purchases or
Shareholder-Initiated Transfer Redemptions.
1. Period Covered by Request. Requests must set forth a specific period, not
to exceed ninety (90) business days from the date of the request, for which
transaction information is sought. The Fund may request transaction
information older than ninety (90) business days from the date of the
request as it deems necessary to investigate compliance with policies
established by the Fund for the purpose of eliminating or reducing any
dilution of the value of the outstanding shares issued by the Fund.
2. Timing of Requests. Fund requests for Shareholder information shall be made
no more frequently than quarterly except as the Fund deems necessary to
investigate compliance with policies established by the Fund for the
purpose of eliminating or reducing any dilution of the value of the
outstanding shares issued by the Fund.
3. Form and Timing of Response.
(a) Intermediary agrees to provide, promptly upon request of the Fund or its
designee, the requested information specified in this Section B. If
requested by the Fund or its designee, Intermediary agrees to use best
efforts to determine promptly whether any specific person about whom it has
received the identification and transaction information specified in this
Section B is itself a financial intermediary ("indirect intermediary") and,
upon further request of the Fund or its designee, promptly either (i)
provide (or arrange to have provided) the information set forth in this
Section B for those shareholders who hold an account with an indirect
intermediary or (ii) restrict or prohibit the indirect intermediary from
purchasing, in nominee name on behalf of other persons, securities issued
by the Fund. Intermediary additionally agrees to inform the Fund whether it
plans to perform (i) or (ii).
(b) Responses required by this paragraph must be communicated in writing and in
a format mutually agreed upon by the Fund or its designee and the
Intermediary; and
(c) To the extent practicable, the format for any transaction information
provided to the Fund should be consistent with the NSCC Standardized Data
Reporting Format.
C. LIMITATIONS ON THE USE OF INFORMATION. The Fund agrees not to use the
information received pursuant to this Agreement for any purpose other than
as necessary to comply with the provisions of Rule 22c-2 or to fulfill
other regulatory or legal requirements subject to the privacy provisions of
Title V of the Xxxxx-Xxxxx-Xxxxxx Act (Public Law 106-102) and comparable
state laws.
D. AGREEMENT TO RESTRICT TRADING. Intermediary agrees to execute written
instructions from the Fund to restrict or prohibit further purchases or
exchanges of Shares by a Shareholder that has been identified by the Fund
as having engaged in transactions of the Fund's Shares (directly or
indirectly through the Intermediary's account) that violate policies
established by the Fund for the purpose of eliminating or reducing any
dilution of the value of the outstanding Shares issued by the Fund. Unless
otherwise directed by the Fund, any such restrictions or prohibitions shall
only apply to Shareholder-Initiated Transfer Purchases or
Shareholder-Initiated Transfer Redemptions that are effected directly or
indirectly through Intermediary.
1. Form of Instructions. Instructions must include the TIN, ITIN, or GII and
the specific individual Contract owner number or participant account number
associated with the Shareholder, if known, and the specific restriction(s)
to be executed, including how long the restriction(s) is(are) to remain in
place. If the TIN, ITIN, GII or the specific individual Contract owner
number or participant account number associated with the Shareholder is not
known, the instructions must include an equivalent identifying number of
the Shareholder(s) or account(s) or other agreed upon information to which
the instruction relates.
2. Timing of Response. Intermediary agrees to execute instructions as soon as
reasonably practicable, but not later than ten business days after receipt
of the instructions by the Intermediary.
3. Confirmation by Intermediary. Intermediary must provide written
confirmation to the Fund that instructions have been executed. Intermediary
agrees to provide confirmation as soon as reasonably practicable, but not
later than ten business days after the instructions have been executed.
E. CONSTRUCTION OF THE AGREEMENT; FUND PARTICIPATION AGREEMENTS. The parties
have entered into one or more Fund Participation Agreements between or
among them for the purchase and redemption of shares of the Fund(s) by the
Accounts in connection with the Contracts. This Agreement supplements those
Fund Participation Agreements. To the extent the terms of this Agreement
conflict with the terms of a Fund Participation Agreement, the terms of
this Agreement shall control.
F. TERMINATION This Agreement will terminate with respect to a specific Fund
upon the termination of the Fund Participation Agreement relating to that
Fund.
IN WITNESS WHEREOF, the undersigned has caused this Agreement to be executed as
of the date first above written.
XXX XXXXXX FUNDS INC.
Xxxxxxx X. Xxxxx
President and Chief Executive Officer
INTERMEDIARY:
(please enter full legal name of Intermediary above)
By:
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(signature)
Name:
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(please print)
Title:
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Date:
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(1) As defined in SEC Rule 22c-2(b), term "excepted fund" means any: (1) money
market fund; (2) fund that issues securities that are listed on a national
exchange; and (3) fund that affirmatively permits short-term trading of its
securities, if its prospectus clearly and prominently discloses that the fund
permits short-term trading of its securities and that such trading may result in
additional costs for the fund.
* According to the IRS' website, the ITIN refers to the Individual Taxpayer
Identification number, which is a nine-digit number that always begins with the
number 9 and has a 7 or 8 in the fourth digit, example 9XX-7X-XXXX. The IRS
issues ITINs to individuals who are required to have a country-regionplaceU.S.
taxpayer identification number but who do not have, and are not eligible to
obtain, a Social Security Number (SSN) from the Social Security Administration
(SSA). SEC Rule 22c-2 inadvertently refers to the ITIN as the International
Taxpayer Identification Number.
