EXHIBIT (8)(b)(i)
Amendment to Participation Agreement
AMENDMENT NO. 1
This Amendment dated as of the 21st day of March, 1988 to the
Participation Agreement dated as of 22nd day of June, 1987 (the "Agreement")
between The Life Insurance Company of Virginia, (the "Company"), Fidelity
Distributors Corporation, (the "Underwriter") and Variable Insurance Products
Fund, (the "Fund").
The Company, the Underwriter and the Fund hereby agree to amend the
Amendment as follows:
1. By deleting the words "Life of Virginia Separate Account III,
(hereinafter the "Account"), a segregated asset account of the
Company" which appears in the third line of the first
paragraph of the Agreement and by substituting the following
therefore:
"each separate segregated asset account of the
Company set forth on Schedule C hereto as may be
amended from time to time (each such account
hereinafter referred to as the "Account")."
2. By deleting the date, "February 10, 1987", which appears in
the sixth WHEREAS on page two of the Agreement and
substituting the words "the date shown for such Account on
Schedule C hereto."
3. By deleting Section 2.12 in its entirety and by substituting
the following therefor:
"2.12. The Company represents and warrants that it will not
purchase Fund shares with Account assets derived from the sale
of Contracts to deferred compensation plans with respect to
service for state and local governments which qualify under
Section 457 of the federal Internal Revenue Code, as may be
amended. The Company may purchase Fund shares with Account
assets derived from any sale of a Contract to any other type
of tax-advantaged employee benefit plan; provided however that
such plan has no more than 300 employees who are eligible to
participate at the time of the first such purchase hereunder
by the Company of Fund shares derived from the sale of such
Contract."
4. By adding the following at the end of Section 12.6:
"Notwithstanding the generality of the foregoing, each party
hereto further agrees to furnish the California Insurance
Commissioner with any information or reports in connection
with services provided under this Agreement which such
Commissioner may request in order to ascertain whether the
variable insurance product operations of the Company are being
conducted in a manner consistent with the California Variable
Life Insurance Regulations and any other applicable law or
regulations."
5. By deleting the language of Section 4 of Schedule B to the
Agreement in its entirety and by substituting the following
therefor:
"4. The text and format for the Voting Instruction Cards
("Cards" or "Card") is provided to the Company by the Fund.
The Company, at its expense, shall produce and personalize the
Voting Instruction Cards with the name, address, and number of
units/shares for each customer. (This and related steps may
occur later in the chronological process due to possible
uncertainties relating to the proposals.)"
6. By attaching to an making a part of the Agreement a copy of
this Amendment No. 1.
7. The Agreement, as amended hereby, is an shall remain in full
force and effect.
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In witness whereof, each of the parties has caused this Amendment to be
executed in its name and on its behalf by its duly authorized representative as
of the date first written above.
The Life Insurance Company of Virginia
By: /s/ XXXXXXX X. XXXXXXX
----------------------
Xxxxxxx X. Xxxxxxx
Title: Senior Vice President
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Fidelity Distributors Corporation
By: /s/XXXX X. X'XXXXX
Xxxx X. X'Xxxxx
Title: President
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Variable Insurance Products Fund
By: /s/ XXXX X. X'XXXXX
--------------------
Xxxx X. X'Xxxxx
Title: Senior Vice President
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SCHEDULE C
NAME OF ACCOUNT DATE OF RESOLUTION OF
COMPANY'S BOARD WHICH
ESTABLISHED THE ACCOUNT
Life of Virginia Separate Account II August 21, 1986
Life of Virginia Separate Account III February 10, 1987
Life of Virginia Separate Account 4 August 26, 1987
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