Sixth Amendment to the Fund Participation Agreement
Exhibit 24(b)(8.119) | |
Sixth Amendment to the Fund Participation Agreement | |
This Sixth Amendment, dated as of March 1, 2013, by and between ING Life | |
Insurance and Annuity Company (formerly Aetna Life Insurance and Annuity Company) | |
(“ILIAC”), ReliaStar Life Insurance and Annuity Company (“ReliaStar”), and ReliaStar | |
Life Insurance Company of New York (“ReliaStar New York”) (collectively the | |
“Company”), Pioneer Investment Management Shareholder Services, Inc. (formerly | |
Pioneering Services Corporation) (the “Transfer Agent”) and Pioneer Funds Distributor, | |
Inc. (“Distributor”), is made to the Fund Participation Agreement, dated as of September | |
21, 2000, as amended by Amendment No. 1 (effective April 1, 2003), Amendment No. 2 | |
(effective August 5, 2003), Amendment No. 3 (effective May 1, 2004), Amendment No. | |
4 (effective March 1, 2008), Amendment No. 5 (effective September 17, 2010). Unless | |
otherwise indicated, terms defined in the Agreement are used herein as therein defined. | |
WHEREAS, the parties reserved to themselves the right to amend the Agreement | |
from time to time in a writing executed by the parties; and | |
WHEREAS, the parties agree to amend the Agreement to add Class K shares of | |
the Funds. | |
NOW, THEREFORE, in consideration of the promises and mutual covenants | |
hereinafter contained, the parties agree as follows: | |
1. | Schedule B of the Agreement is hereby deleted in its entirety and replaced |
with Schedule B, attached hereto. | |
2. | Schedule C of the Agreement is hereby deleted in its entirety and replaced |
with Schedule C, attached hereto. | |
3. | Except as modified hereby, all other terms and conditions of the |
Agreement shall remain in full force and effect. | |
4. | This Amendment may be executed in two or more counterparts, each of |
which shall be deemed to be an original, but all of which together shall constitute one and | |
the same Amendment. |
IN WITNESS WHEREOF, the parties hereto have executed and delivered this | ||
Sixth Amendment as of the effective date set forth above. | ||
ING LIFE INSURANCE AND | PIONEER INVESTMENT MANAGEMENT | |
ANNUITY COMPANY | SHAREHOLDER SERVICES | |
By: /s/Xxxx Xxxxxxx | By: /s/Xxxxxx Xxxxxxxx | |
Name: | Xxxx Xxxxxxx | Name: |
Title: | Vice President | Title: |
RELIASTAR LIFE INSURANCE COMPANY | PIONEER FUNDS DISTRIBUTOR, INC. | |
By: /s/Xxxx Xxxxxxx | By: /s/Xxxxxx Xxxxxxxx | |
Name: | Xxxx Xxxxxxx | Name: |
Title: | Vice President | Title: |
RELIASTAR LIFE INSURANCE COMPANY | ||
OF NEW YORK | ||
By: /s/Xxxx Xxxxxxx | ||
Name: | Xxxx Xxxxxxx | |
Title: | Vice President |
Schedule B |
As amended on March __, 2013 |
All Class A Shares of Pioneer Funds |
All Class K Shares of Pioneer Funds |
All Class R Shares of Pioneer Funds |
All Class Y Shares of Pioneer Funds |
Schedule C | |
As amended on March __, 2013 | |
1. | Servicing Fee |
Administrative services to Contract owners and participants shall be the | |
responsibility of the Company and shall not be the responsibility of the Fund or the | |
Distributor. The Transfer Agent recognizes the Company as the sole shareholder of | |
the Fund shares issued under the Fund Participation Agreement, and that substantial | |
savings will be derived in administrative expenses 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, Transfer Agent agrees to pay to the Company a servicing fee as set forth | |
below: | |
(a) for Class A shares, on the annual rate of ____% (_____% quarterly) of the | |
average net assets invested in the Funds in each calendar quarter. This fee shall be | |
payable quarterly in arrears, as invoice by ILIAC to the Distributor for the amount of | |
such fee; and | |
(b) for Class K Shares, The parties agree that no fee is payable to the Company by | |
the Transfer Agent or the Distributor, or any affiliate, with respect to the assets | |
invested in Class K Shares of the Funds through the Contracts. | |
(c) for Class R Shares, in consideration of the Company providing services under | |
each Fund's Class R Shares Service Plan (the "Service Plan") to Contract owners and | |
participants holding shares of Class R Shares of the Funds, including but not limited | |
to (a) acting as the shareholder of record and nominee for Contract owners and | |
participants, (b) maintaining account records for each Contract owner and participant | |
beneficially owning Class R Shares, (c) processing orders to purchase, redeem and | |
exchange Class R Shares on behalf of Contract owners and participants, and handling | |
the transmission of funds representing the purchase price or redemption proceeds and | |
(d) addressing Contract owners' and participants' questions regarding their accounts | |
and the Funds, Transfer Agent agrees to pay to the Company a servicing fee, on the | |
annual rate of ____% (_____% quarterly) of the average net assets invested in the | |
Funds through the Contracts in each calendar quarter. The Company agrees that the | |
services that it shall provide shall not include distribution services primarily intended | |
to result in the sale of Fund shares. The Transfer Agent has no obligation to make any | |
such payments and the Company hereby waives any such payments until the Transfer | |
receives monies from the Fund. The amount of compensation payable to the | |
Company during anyone year for its services with respect to Class R Shares of a Fund | |
shall not exceed the maximum permitted by the Service Plan, as described in the | |
Fund's prospectus; and |
(d) for Class Y Shares, at an annual rate of ____% (_____% quarterly) of the | |
average net assets invested in the Funds through the Contracts in each calendar | |
quarter. | |
Transfer Agent 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 the quarter | |
and such other supporting data as may be reasonably requested by the Company. | |
2. | Distribution Related Fees |
In accordance with the Fund's plan pursuant to Rule 12b-l under the Investment | |
Company Act of 1940, the Distributor will make payments to the Company at an | |
annual rate of ___% (______% quarterly) for Class A shares and ____% (_____% | |
quarterly) for Class R shares, of the average net assets invested in the Funds through | |
the Contracts in each calendar quarter. Distributor will make such payments 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 the quarter and such other supporting data as may be reasonably | |
requested by the Company. |