This Amendment to the Selling and Services Agreement and Participation Agreement
| Exhibit 24(b)(8.7) SECOND AMENDMENT TO SELLING AND SERVICES AGREEMENT AND PARTICIPATION AGREEMENT | ||
| This Amendment to the Selling and Services Agreement and Participation Agreement | ||
| (“Amendment”) is effective as of date set forth below by and between American Beacon | ||
| Advisors, Inc. (“AmBeacon”), and ING Life Insurance and Annuity Company (“ING Life”), | ||
| ING Institutional Plan Services, LLP (“ING Institutional”), and ING Financial Advisors, LLC | ||
| (“ING Financial”)(collectively “ING”) | ||
| Whereas, AmBeacon and the Servicing Agent entered into a Selling and Services | ||
| Agreement and Participation Agreement dated June 6, 2008 and First Amendment dated | ||
| February 9, 2009 (the “Agreement”), regarding the American Beacon Funds, (the “Funds”) and | ||
| the parties desire to further amend the Agreement as provided herein; | ||
| Now therefore, in consideration of the mutual covenants and promises set forth herein, | ||
| and other good and valuable consideration, the receipt and sufficiency of which are hereby | ||
| acknowledged, the parties hereby agree as follows: | ||
| 1. | Amendment. Schedule B and Schedule C to the Agreement is hereby deleted and | |
| replaced with Schedule B and Schedule C attached hereto. | ||
| 2. | Ratification and Confirmation of Agreement. Except as specifically set forth | |
| herein, the Agreement is hereby ratified and confirmed in all respects and shall remain in full | ||
| force and effect. | ||
| 3. | Counterparts. This Amendment may be executed in counterparts, each of which | |
| shall be deemed to be an original, but all of which together shall constitute one and the same | ||
| instrument. | ||
| IN WITNESS WHEREOF, the parties hereto have duly executed this Amendment to be | ||
| effective as of the 14th day of July, 2009. | ||
| ING LIFE INSURANCE AND | ING INSTITUTIONAL PLAN SERVICES, LLC | |
| ANNUITY COMPANY | ||
| By: /s/ Xxxx X. Xxxxxxx | By: /s/ Xxxxxxxx Xxxxxxxxx attorney in fact | |
| Xxxx X. Xxxxxxx | Xxxxxxxx Xxxxxxxxx | |
| Vice President | Vice President | |
| ING FINANCIAL ADVISORS, LLC | AMERICAN BEACON ADVISORS, INC | |
| By: /s/ Xxxxx Xxxxxx | By: /s/ Xxxxx X. Xxxxx | |
| Xxxxx Xxxxxx | Xxxxx X. Xxxxx | |
| COO/VP | Vice President, Sales and Marketing | |
| SCHEDULE B |
| List of Available Funds |
| All Institutional class shares of American Beacon Funds |
| All Investor class shares of American Beacon Funds |
| All Advisor class shares of American Beacon Funds |
| All Retirement class shares of American Beacon Funds |
| 2 |
| SCHEDULE C FEE SCHEDULE | |||
| As compensation for the services ING renders under the Agreement, Advisor will pay a | |||
| fee to ING Financial equal to an annual basis the rate set forth below multiplied by the average | |||
| daily value of the assets in ING accounts in the Funds. | |||
| Service | 12b-1 Fees | Total Fees | |
| Fund | Fees | ||
| American Beacon Funds-Institutional Class* | % | % | % |
| American Beacon Funds-Investor Class | % | % | % |
| American Beacon Funds-Advisor Class | % | % | % |
| American Beacon Funds-Retirement Class | % | % | % |
| *AmBeacon shall pay ING Financial a fee of % on each new account in the | |||
| Institutional Class of certain Funds created after February 9, 2009 with a | |||
| minimum initial investment of $ and which maintains a minimum average | |||
| balance of $ in a Fund within the Institutional Class. ING Financial will | |||
| provide AmBeacon with information regarding the account assets, along with | |||
| supporting data, at the end of each calendar quarter. Asset accumulation, | |||
| share class exchanges and the following Funds of the Institutional Class do | |||
| not qualify for payment: Short Term Bond Fund, Intermediate Bond Fund, | |||
| S&P 500 Index Fund, Small Cap Index Fund, International Equity Index | |||
| Fund, and TIPS Fund. | |||
| Dated: _______________, 2009 | |||
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