Amendment No. 5 to Administrative Services Agreement
Amendment No. 5 to
Franklin Xxxxxxxxx Services, LLC
Principal Life Insurance Company
Principal National Life Insurance Company
THIS AMENDMENT is made by and between Franklin Xxxxxxxxx Services, LLC (the "Fund Administrator"), Principal Life Insurance Company and Principal National Life Insurance Company (collectively, the "Company").
WHEREAS. the Company and the Fund Administrator have entered into an Administrative Services Agreement, dated as of December 14, 2007, as amended from time to time (the "Agreement"), concerning certain administrative services with respect to each series ("Fund" or "Funds") of Franklin Xxxxxxxxx Variable Insurance Products Trust (the "Trust") listed on Schedule B of the Agreement;
WHEREAS, the Company and the Fund Administrator wish to amend the Agreement for the purpose of updating Fund names and adding certain new variable annuity contracts covered by the Agreement.
NOW, THEREFORE, in consideration of past and prospective business relations, the Fund Administrator and the Company hereby amend the Agreement as follows:
1.Schedule B of the Agreement is hereby deleted in its entirety and replaced with the Schedule B attached hereto.
2.All other terms and provisions of the Agreement not amended herein shall remain in full force and effect.
This amendment is executed effective as of May 1, 2014.
Fund Administrator: | FRANKLIN XXXXXXXXX SERVICES, LLC | |||
By: | /s/ Xxxxxx X. Xxxxx | |||
Name: | Xxxxxx X. Xxxxx | |||
Title: | Vice President | |||
The Company: | PRINCIPAL LIFE INSURANCE COMPANY | |||
PRINCIPAL NATIONAL LIFE INSURANCE COMPANY | ||||
By: | /s/ Xxxx Xxxxxx | |||
Name: | Xxxx Xxxxxx | |||
Title: | AVP -- Annuity Product Line Management | |||
Schedule B
Administrative Expense Payment
With respect to each Contract listed below underneath the column titled "Product Name/Registration No.", the Fund Administrator agrees to pay the corresponding Company a fee, computed daily and paid quarterly in arrears, equal to an annual rate as set forth below, applied to the average daily net assets of the shares of the Funds held in the subaccounts of the Accounts. The payment will be computed and paid in the manner described more completely in the Agreement.
# | Company | Product Name/Registration No. | Funds of the Trust | Fee Rate | Date of Beginning of Period for Computation of Fee |
1. | Principal Life Insurance Company | Benefit Variable Universal Life (BVUL) 333-89446 | Class 2 Shares Franklin Income VIP Fund Franklin Rising Dividends VIP Fund Franklin Small Cap Value VIP Fund Franklin Strategic Income VIP Fund Franklin Mutual Global Discovery VIP Fund Franklin Mutual Shares VIP Fund Templeton Developing Markets VIP Fund Templeton Foreign VIP Fund Templeton Global Bond VIP Fund | 0.10% | 11/01/07 |
Class 2 Shares Franklin U.S. Government Securities VIP Fund | 0.10% | 11/01/09 | |||
2. | Principal Life Insurance Company | Benefit Variable Universal Life II (BVUL II) 333-49363 | Class 2 Shares Franklin Income VIP Fund Franklin Rising Dividends VIP Fund Franklin Small Cap Value VIP Fund Franklin Strategic Income VIP Fund Franklin Mutual Global Discovery VIP Fund Franklin Mutual Shares VIP Fund Templeton Developing Markets VIP Fund Templeton Foreign VIP Fund Templeton Global Bond VIP Fund | 0.10% | 11/01/07 |
Class 2 Shares Franklin U.S. Government Securities VIP Fund | 0.10% | 11/01/09 | |||
3. | Principal Life Insurance Company | Executive Variable Universal Life (EVUL) 333-81714 | Class 2 Shares Franklin Mutual Global Discovery VIP Fund Franklin Mutual Shares VIP Fund Franklin Income VIP Fund Franklin Rising Dividends VIP Fund Franklin Strategic Income VIP Fund Franklin Small Cap Value VIP Fund Templeton Developing Markets VIP Fund Templeton Foreign VIP Fund Templeton Global Bond VIP Fund | 0.10% | 11/01/07 |
Class 2 Shares Franklin U.S. Government Securities VIP Fund | 0.10% | 11/01/09 | |||
# | Company | Product Name/Registration No. | Funds of the Trust | Fee Rate | Date of Beginning of Period for Computation of Fee |
4. | Principal Life Insurance Company | Executive Variable Universal Life II (EVUL) 333-81714 | Class 2 Shares Franklin Income VIP Fund Franklin Rising Dividends VIP Fund Franklin Small Cap Value VIP Fund Franklin Strategic Income VIP Fund Franklin Mutual Global Discovery VIP Fund Franklin Mutual Shares VIP Fund Templeton Developing Markets VIP Fund Templeton Foreign VIP Fund Templeton Global Bond VIP Fund | 0.10% | 11/01/07 |
Class 2 Shares Franklin U.S. Government Securities VIP Fund | 0.10% | 11/01/09 | |||
5. | Principal Life Insurance Company | Principal Freedom Variable Annuity 333-128079 | Class 2 Shares Templeton Growth VIP Fund | 0.10% | 11/01/07 |
6. | Principal Life Insurance Company | Principal Variable Universal Life Income II 333-146896 | Class 2 Shares Franklin Rising Dividends VIP Fund Franklin Mutual Shares VIP Fund | 0.10% | 11/01/07 |
Class 2 Shares Franklin Small Cap Value VIP Fund Templeton Global Bond VIP Fund | 0.10% | 05/01/11 | |||
7. | Principal Life Insurance Company | Investment Plus Variable Annuity 333-116220 & New Registration Statement to be filed in 2013 (333-188293) | Class 2 Shares Franklin Small Cap Value VIP Fund | 0.10% | 11/01/09 |
8. | Principal Life Insurance Company | Principal Flexible Variable Life 33-13481 | Class 2 Shares Franklin Small Cap Value VIP Fund Templeton Global Bond VIP Fund | 0.10% | 05/01/11 |
9. | Principal Life Insurance Company | PrinFlex Life 333-00101 | Class 2 Shares Franklin Small Cap Value VIP Fund Templeton Global Bond VIP Fund | 0.10% | 05/01/11 |
10. | Principal Life Insurance Company | Principal Survivorship Flexible Premium Variable Universal Life 333-71521 | Class 2 Shares Franklin Small Cap Value VIP Fund Templeton Global Bond VIP Fund | 0.10% | 05/01/11 |
11. | Principal Life Insurance Company | Principal Variable Universal Life Accumulator 333-65690 | Class 2 Shares Franklin Small Cap Value VIP Fund Templeton Global Bond VIP Fund | 0.10% | 05/01/11 |
# | Company | Product Name/Registration No. | Funds of the Trust | Fee Rate | Date of Beginning of Period for Computation of Fee |
12. | Principal Life Insurance Company | Principal Variable Universal Life Accumulator II 333-100838 | Class 2 Shares Franklin Small Cap Value VIP Fund Templeton Global Bond VIP Fund | 0.10% | 05/01/11 |
13. | Principal Life Insurance Company | Principal Variable Universal Life Income 333-115269 | Class 2 Shares Franklin Small Cap Value VIP Fund Templeton Global Bond VIP Fund | 0.10% | 05/01/11 |
14. | Principal National Life Insurance Company | Principal Variable Universal Life Income III 333-175768 | Class 2 Shares Franklin Mutual Shares VIP Fund Franklin Rising Dividends VIP Fund Franklin Small Cap Value VIP Fund Templeton Global Bond VIP Fund | 0.10% | 11/01/11 |
15. | Principal Life Insurance Company | Principal Variable Annuity 33-74232 333-40254 (with PPC) | Class 2 Shares Franklin Small Cap Value VIP Fund | 0.10% | 05/01/13 |
16. | Principal Life Insurance Company | New Principal Variable Annuity to Be Filed with the SEC on or about April 2014 | Class 2 Shares Franklin Global Real Estate VIP Fund Class 4 Shares Franklin Rising Dividends VIP Fund Templeton Global Bond VIP Fund | 0.10% | TBD |
