Exhibit (h)(4)
ADMINISTRATIVE SERVICES AGREEMENT
THIS AGREEMENT is made as of the 15th day of October, 1999 by and
between Huntington VA Funds, a Massachusetts business trust (the "Trust") and
Hartford Life Insurance Company ("Hartford").
WHEREAS, Hartford and the Trust intend to enter into a Fund
Participation Agreement ("Participation Agreement") in order for certain
separate accounts of Hartford ("Separate Accounts") to purchase shares
("Shares") of funds of the Trust ("Funds"). The Funds will serve as investment
vehicles available under variable annuity contracts ("Variable Contracts")
offered by Hartford.
WHEREAS, the Trust recognizes that Hartford will perform certain
administrative services valuable to the Funds in the course of soliciting
applications for the Variable Contracts and in servicing owners of the Variable
Contracts.
NOW, THEREFORE, the parties agree as follows:
1. Administrative Services. Hartford agrees to provide
administrative services ("Services") with respect to the Funds, including but
not limited to:
a) Teleservicing support in connection with the Funds;
b) Facilitation of delivery of current prospectuses,
reports, notices, proxies and proxy statements and other informational
materials;
c) Facilitation of the tabulation of Variable Contract
owners' votes in the event of a meeting of Fund shareholders; providing
information relating to the Variable Contracts and Share balances under
such Variable Contracts to the Trust as may be reasonably requested;
d) Provision of communication support services
including providing information about the Funds and answering questions
concerning the Funds, including questions respecting Variable Contract
owners' interests in one or more Funds;
e) Administration of fund transfers, dollar cost
averaging, asset allocation, portfolio rebalancing, earnings sweep, and
pre-authorized deposits and withdrawals involving the Funds; and
f) Provision of other services as may be agreed upon
from time to time.
2. Annual Fee. The Trust agrees to pay Hartford a service fee at an annual
rate equal to twenty five (25) basis points (0.25%) of the average daily net
assets of the Shares of the Funds held in Separate Accounts. For purposes of
computing the payment to Hartford under this paragraph, Hartford shall compute
the average daily net assets of Shares held in Separate Accounts over a monthly
period by totaling such Separate Accounts' aggregate investment (Shares net
asset value multiplied by total number of Shares held by such Separate Accounts)
on each business day during the calendar month, and dividing by the total number
of business days during such month. The payment to Hartford under this paragraph
shall be calculated by Hartford and communicated to the Trust at the end of each
calendar month and will be paid to Hartford within 30 days thereafter.
3. Termination. This Agreement may be terminated by written notice only
upon termination or assignment of the Fund Participation Agreement between
Hartford and the Trust. Notwithstanding the termination of this Agreement,
Huntington will continue to pay the service fees in accordance with Section 2 s
long as net assets of Hartford or a Separate Account remain in a Fund and
Hartford continues to provide Services, provided such continued payment is
permitted in accordance with applicable law and regulation.
4. Amendment. This Agreement may be amended only upon mutual agreement
of Hartford and the Trust in writing.
5. Miscellaneous. Nothing in this Agreement shall amend, modify or
supersede any contractual terms, obligations or covenants between Hartford and
the Trust previously or currently in effect, including those contractual terms,
obligations or covenants contained in the Fund Participation Agreement.
IN WITNESS WHEREOF, the parties have executed this Agreement as of the
date first above written.
HARTFORD LIFE INSURANCE COMPANY
By:/s/ Xxxxx X. Xxxxxx
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Xxxxx X. Xxxxxx
Title: Vice President
Investment Product Sales
HUNTINGTON VA FUNDS
By:/s/ Xxxx Xxxxx
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Xxxx Xxxxx
Title: President
