EXHIBIT 8(d)
SECOND AMENDMENT TO THE
CUSTODIAN AGREEMENT BY AND BETWEEN
USAA LIFE INVESTMENT TRUST AND
STATE STREET BANK AND TRUST COMPANY
This Second Amendment, dated April 24, 1997, amends the Custodian Agreement,
dated December 15, 1994 ("Custodian Agreement"), made by and between State
Street Bank and Trust Company ("Custodian") and USAA Life Investment
Trust ("Trust").
RECITALS
WHEREAS, the Custodian Agreement has been amended by an Amendment, dated
December 16, 1994, and a First Amendment to the Amendment, dated July 24, 1996
(collectively, with the Custodian Agreement, the "Agreement"); and
WHEREAS, the Custodian, pursuant to the Agreement, currently serves as the
custodian for the five initial series of the Trust, namely the USAA Life
Variable Annuity Money Market Fund, USAA Life Variable Annuity Income Fund,
USAA Life Variable Annuity Growth and Income Fund, USAA Life Variable Annuity
World Growth Fund, and USAA Life Variable Annuity Diversified Assets Fund
(each, an "Initial Fund"); and
WHEREAS, the Trust desires to retain the services of the Custodian, under
the terms of the Agreement, for each of its two new series, namely the USAA
Life Variable Annuity Aggressive Growth Fund and USAA Life Variable Annuity
International Fund (each, a "New Fund"), and the Custodian desires to provide
such services in accordance with the Agreement; and
WHEREAS, the Trust and the Custodian desire to clarify certain aspects of
the Agreement with respect to payments to be received by the Custodian for
Trust shares.
NOW THEREFORE, in consideration of the mutual covenants and agreements
contained herein, the Custodian and Trust hereby amend the Agreement as
follows:
1. Addition of New Funds
Pursuant to Section 12 of the Agreement, the Trust hereby notifies the
Custodian that it desires to retain the Custodian's services for each New
Fund, under the terms of the Agreement, and the Custodian hereby agrees to
provide such services for each New Fund in accordance with the Agreement.
Accordingly, all references to "Fund" or "Funds," as those terms are defined
in and used throughout the Agreement, shall include each New Fund in addition
to each Initial Fund.
2. Payments for Shares
The first sentence of Section 2.5 of the Agreement is hereby revised to
read as follows:
The Custodian shall receive from USAA Life, from its general account or from
the applicable separate account of USAA Life Insurance Company (the "Separate
Account"), and, on the date of receipt, deposit into the account of the
appropriate Fund such payments for shares of that Fund issued or sold from
time to time by the Trust.
3. Applicability of Agreement
Except as otherwise provided herein, the terms of the Agreement, shall
apply or continue to apply, as the case may be, with full force and effect to
each Initial Fund and each New Fund.
IN WITNESS WHEREOF, each of the parties has caused this instrument to be
executed in its name and on its behalf by its duly authorized representative
as of the date first set forth above.
ATTEST USAA LIFE INVESTMENT TRUST
BY: /s/ Xxxxxxx Xxxxxxxx BY: /s/ Xxxxx X. Xxxxxx
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X. X. Xxxxxxxx, Xx. Xxxxx X. Xxxxxx
Secretary President & CEO
ATTEST STATE STREET BANK AND TRUST COMPANY
BY: /s/ Xxxx Xxxxxxxx BY: /s/ Xxxxxxxxxx Xxxxxxx
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Xxxx Xxxxxxxx Xxxxxxxxxx Xxxxxxx