EXHIBIT 8(q)(1)
AMENDMENT TO PARTICIPATION AGREEMENT
The Participation Agreement, dated as of November 1, 1999, between
TRANSAMERICA VARIABLE INSURANCE FUND, INC., TRANSAMERICA INVESTMENT MANAGEMENT,
LLC, and PFL LIFE INSURANCE COMPANY ("the Agreement") is hereby amended as
follows:
WHEREAS, Peoples Benefit Life Insurance Company ("Peoples Benefit"), an
affiliate of PFL Life Insurance Company, has registered or will register certain
variable annuity contracts and/or variable life insurance policies (both the
contracts and policies, collectively, "Policies") under the Securities Act of
1933; and
WHEREAS, Peoples Benefit has, by resolution of its Board of Directors, duly
organized and established the Peoples Benefit Life Insurance Company Separate
Account V ("Account V") as a segregated asset account to receive, set aside and
invest assets attributable to net premiums and payments received under the
Policies; and
WHEREAS, Peoples Benefit has registered or will register the Account as a
unit investment trust under the Investment Company Act of 1940; and
WHEREAS, to the extent permitted by applicable insurance law and
regulation, Peoples Benefit intends to purchase shares in one or more portfolios
of the Fund to fund the Policies on behalf of Account V, and
WHEREAS, the Fund intends to sell shares of the Portfolio(s) to Account V
at net asset value; and
WHEREAS, all of the current parties is desirous of adding Peoples
Benefit as a party, subject to the same terms and conditions, to the Agreement.
NOW, THEREFORE, IT IS HEREBY AGREED that Peoples Benefit is authorized
to acquire shares issued by the Fund, subject to the terms and conditions
of this Agreement, and that Schedule A to the Participation Agreement is
hereby amended to add Advisor's Edge Variable Annuity and Advisor's Edge
Select Variable Annuity.
All other terms and provisions of the Agreement not amended herein shall
remain in full force and effect.
IN WITNESS WHEREOF, each of the parties has caused this Addendum to be executed
in its name and on its behalf by its duly authorized representative as of July
28, 2000.
PFL LIFE INSURANCE COMPANY TRANSAMERICA VARIABLE INSURANCE
By its authorized officer FUND, INC.
By its authorized officer
By: /s/ ▇▇▇▇▇ ▇. ▇▇▇▇▇▇ By: /s/ ▇▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇
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Title: President Title: Treasurer
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Date: August 7, 2000 Date: August 3, 2000
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TRANSAMERICA INVESTMENT PEOPLES BENEFIT LIFE
MANAGEMENT, LLC INSURANCE COMPANY
By its authorized officer By its authorized officer
By: /s/ ▇▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇ By: /s/ ▇▇▇▇▇ ▇. ▇▇▇▇▇▇
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Title: Chief Operating Officer Title: Executive Vice President
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Date: August 3, 2000 Date: August 7, 2000
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Effective July 28, 2000
AMENDED SCHEDULE A
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Extra Variable Annuity
Endeavor Variable Annuity
Endeavor ML Variable Annuity
Endeavor Platinum Variable Annuity
AUSA Endeavor Variable Annuity
Access Variable Annuity
Retirement Income Builder II Variable Annuity
Legacy Builder Plus
Advisor's Edge Variable Annuity
Advisor's Edge Select Variable Annuity
