FUND PARTICIPATION AGREEMENT
AMENDMENT NO. 1
The Fund Participation Agreement dated June 8, 1998 by and between Farm Bureau
Life Insurance Company and each of Dreyfus Variable Investment Fund, the Dreyfus
Socially Responsible Growth Fund, Inc., Dreyfus Life and Annuity Index Fund,
Inc. (d/b/a Dreyfus Stock Index Fund); and Dreyfus Investment Portfolios, is
hereby amended as follows:
(1) Exhibit A is deleted in its entirety and replaced with a new Exhibit A
as attached hereto.
Effective Date: September 1, 2001
Farm Bureau Life Insurance Company
By: _/s/ Xxxxxx X. Marker________
Title: _Vice President___________
Date: _September 18, 2001____
Dreyfus Variable Investment Fund
By: ______________________________
Title: ______________________________
Date: ______________________________
Dreyfus Socially Responsible Growth Fund, Inc.
By: ______________________________
Title: ______________________________
Date: ______________________________
Dreyfus Life and Annuity Index Fund, Inc. (d/b/a
Dreyfus Stock Index Fund)
By: ______________________________
Title: ______________________________
Date: ______________________________
Dreyfus Investment Portfolios
By: ______________________________
Title: ______________________________
Date: ______________________________
Exhibit A
List of Participating Funds
FUND NAME SHARE CLASS
Dreyfus Variable Investment Fund
Appreciation Portfolio Initial Share Class
Disciplined Stock Portfolio Initial Share Class
Growth and Income Portfolio Initial Share Class
International Equity Portfolio Initial Share Class
Small Cap Portfolio Initial Share Class
The Dreyfus Socially Responsible Growth Fund, Inc. Service Share Class
0
Xxxxxxxxx 0, 0000
Xxxxxxx Service Corporation
000 Xxxx Xxxxxx
Xxx Xxxx, Xxx Xxxx 00000
Gentlemen:
We wish to enter into an Agreement with you with respect to our providing
distribution, advertising and marketing assistance and shareholder services
relating to the Service shares of each series of the management investment
companies (each a "Fund") set forth on Schedule A hereto, as such Schedule may
be revised from time to time, or if no series are set forth on such Schedule,
the Fund, for which you are the principal underwriter as defined in the
Investment Company Act of 1940, as amended (the "Act"), and the exclusive agent
for the continuous distribution of shares of the Funds pursuant to the terms of
a Distribution Agreement between you and the Fund.
The terms and conditions of this Agreement are as follows:
1. We agree to provide distribution, advertising and marketing assistance
relating to the Service shares of the Funds and shareholder services
for the benefit of owners of variable annuity contracts and variable
life insurance policies (together, "variable insurance products") we
issue through our separate accounts that invest in the Service shares
of the Funds ("owners"), which separate accounts are set forth on
Schedule B hereto, as such Schedule may be revised from time to time.
Such services may include, without limitation: answering owner
inquiries about the Funds; establishing information interfaces and
websites and internal systems for Service shares; providing assistance
and support with regard to the training of owner relationship personnel
and sales agents; providing statements and/or reports showing tax,
performance, owner account and other information relating to Service
shares; providing portfolio manager commentaries to owners and other
interested parties; and providing such other information and services
as you reasonably may request, to the extent we are permitted by
applicable statute, rule or regulation. If we are restricted or unable
to provide the services contemplated above, we agree not to perform
such services and not to accept fees thereafter. Our acceptance of any
fees hereunder shall constitute our representation (which shall survive
any payment of such fees and any termination of this Agreement and
shall be reaffirmed each time we accept a fee hereunder) that our
receipt of such fee is lawful.
2. We shall provide such office space and equipment, telephone facilities
and personnel as is necessary or beneficial for providing the services
described in Paragraph 1 of this Agreement.
3. We agree that neither we nor any of our employees or agents are
authorized to make any representation concerning any Fund, except those
contained in the then current
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Prospectus furnished to us by you or the Fund, or in such supplemental
literature or advertising materials as may be authorized by you in
writing.
4. We acknowledge that this Agreement is an agreement entered into
pursuant to the Fund's Distribution Plan adopted pursuant to Rule 12b-1
under the Act, and shall become effective for a Fund only when approved
by a vote of a majority of (i) the Fund's Board of Directors or
Trustees, as the case may be (collectively "Directors," individually
"Director"), and (ii) Directors who are not "interested persons" (as
defined in the Act) of the Fund and have no direct or indirect
financial interest in this Agreement, cast in person at a meeting
called for the purpose of voting on such approval.
5. As to each Fund, this Agreement shall continue until the last day of
the calendar year next following the date of execution, and thereafter
shall continue automatically for successive annual periods ending on
the last day of each calendar year, providing such continuance is
approved specifically at least annually by a vote of a majority of (i)
the Fund's Directors and (ii) Directors who are not "interested
persons" (as defined in the Act) of the Fund and have no direct or
indirect financial interest in this Agreement, by vote cast in person
at a meeting called for the purpose of voting on such approval.
6. (a) As to each Fund, this Agreement is terminable without penalty, at
any time, by vote of a majority of the Fund's Directors who are not
"interested persons" (as defined in the Act) and have no direct or
indirect financial interest in this Agreement or, upon not more than 60
days' written notice, by vote of holders of a majority of the Fund's
outstanding Service shares. As to each Fund, this Agreement is
terminable without penalty upon 15 days' notice by either party. In
addition, you may terminate this Agreement as to any or all Funds
immediately, without penalty, if the present investment adviser of such
Fund(s) ceases to serve the Fund(s) in such capacity, or if you cease
to act as distributor of such Fund(s). Notwithstanding anything
contained herein, if the Distribution Plan adopted by the Fund is
terminated by the Fund's Board, or the Distribution Plan, or any part
thereof, is found invalid or is ordered terminated by any regulatory or
judicial authority, or we fail to perform the distribution,
advertising, marketing and shareholder servicing functions contemplated
herein as to any or all of the Funds, this Agreement shall be
terminable effective upon receipt of notice thereof by us. This
Agreement also shall terminate automatically, as to the relevant Fund,
in the event of its assignment (as defined in the Act).
(b) This Agreement shall become effective only when accepted and signed
by you and when the conditions in Paragraph 4 of this Agreement are
satisfied. This Agreement may be amended by you upon 15 days' prior
notice to us, and such amendment shall be deemed accepted by us upon
the acceptance of a fee payable under this Agreement after the
effective date of any such amendment. This Agreement constitutes the
entire agreement and understanding between the parties hereto relating
to the subject matter hereof and supersedes any and all prior
agreements between the parties hereto relating to the subject matter
hereof.
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7. In consideration of the services and facilities described herein, we
shall be entitled to receive from you, and you agree to pay us with
respect to each Fund, the fees set forth opposite the Fund's name on
Schedule A hereto. We understand that any payments pursuant to this
Agreement shall be paid only so long as this Agreement, the Plan and
the Fund's participation agreement with us are in effect. We agree that
no Director, officer or shareholder of the Fund shall be liable
individually for the performance of the obligations hereunder or for
any such payments.
8. Each party hereby represents and warrants to the other party that: (a)
it is a corporation, partnership or other entity duly organized and
validly existing in good standing under the laws of the jurisdiction in
which it was organized; (b) it will comply with all applicable federal
and state laws, and the rules, regulations, requirements and conditions
of all applicable regulatory and self-regulatory agencies or
authorities in the performance of its duties and responsibilities
hereunder; (c) the execution and delivery of this Agreement and the
performance of the transactions contemplated hereby have been duly
authorized by all necessary action, and all other authorizations and
approvals (if any) required for its lawful execution and delivery of
this Agreement and its performance hereunder have been obtained; and
(d) upon execution and delivery by it, and assuming due and valid
execution and delivery by the other party, this Agreement will
constitute a valid and binding agreement, enforceable in accordance
with its terms.
9. We represent and warrant that the services we agree to render under
this Agreement are not services for which we deduct fees and charges
under the variable insurance products investing in the Service shares
or for which we are paid compensation pursuant to another arrangement.
10. We agree to provide to you and each applicable Fund such information
relating to our services hereunder as may be required to be maintained
by you and/or such Fund under applicable federal or state laws, and the
rules, regulations, requirements or conditions of applicable regulatory
and self-regulatory agencies or authorities.
11. (a) We agree to indemnify and hold harmless you and your officers and
directors, and each Fund and its Directors and any person who controls
you and/or the Fund within the meaning of Section 15 of the Securities
Act of 1933, as amended, from any and all loss, liability and expense
resulting from our gross negligence or willful wrongful acts under this
Agreement, except to the extent such loss, liability or expense is the
result of your willful misfeasance, bad faith or gross negligence in
the performance of your duties, or by reason of the reckless disregard
of your obligations and duties under this Agreement.
(b) You agree to indemnify and hold us and our officers and directors
harmless from any and all loss, liability and expense resulting from
your gross negligence or willful wrongful acts under this Agreement,
except to the extent such loss, liability or expense is the result of
our willful misfeasance, bad faith or gross negligence in the
performance of our duties, or by reason of our reckless disregard of
our obligations and duties under this Agreement.
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12. Neither this Agreement nor the performance of the services of the
respective parties hereunder shall be considered to constitute an
exclusive arrangement, or to create a partnership, association or joint
venture between you and us. Neither party hereto shall be, act as, or
represent itself as, the agent or representative of the other, nor
shall either party have the right or authority to assume, create or
incur any liability, or any obligation of any kind, express or implied,
against or in the name of, or on behalf of, the other party.
13. All notices required or permitted to be given pursuant to this
Agreement shall be given in writing and delivered by personal delivery
or by postage prepaid, registered or certified United States first
class mail, return receipt requested, or by telecopier, telex, telegram
or similar means of same day delivery (with a confirming copy by mail
as provided herein). Unless otherwise notified in writing, all notices
to you shall be given or sent to you at 000 Xxxx Xxxxxx, Xxx Xxxx, Xxx
Xxxx 00000, Attention: General Counsel, and all notices to us shall be
given or sent to us at our address, which shall be furnished to you in
writing on or before the effective date of this Agreement.
14. This Agreement shall be governed and construed in accordance with the
internal laws of the State of New York, without giving effect to the
principles of conflict of laws.
Very truly yours,
FARM BUREAU LIFE
INSURANCE COMPANY
0000 Xxxxxxxxxx Xxxxxx
Xxxx Xxx Xxxxxx, Xxxx 00000
By: _/s/ Xxxxxx X. Marker____
Title: Vice President
Date: September 18, 2001
NOTE: Please sign and return both copies of this Agreement to Dreyfus Service
Corporation. Upon acceptance, one countersigned copy will be returned to you for
your files.
Accepted: DREYFUS SERVICE CORPORATION
By: __________________________
Title:
Date:
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SCHEDULE A
FEE AT AN ANNUAL RATE AS A PERCENTAGE OF
AVERAGE DAILY NET ASSET VALUE OF SERVICE SHARES
FUND AND PORTFOLIO NAME HELD ON BEHALF OF OWNERS(1)
----------------------- -------------------------
The Dreyfus Socially Responsible Growth Fund, Inc. .25%
----------
(1) For purposes of determining the fee payable hereunder, the average daily net
asset value of the Fund's Service shares shall be computed in the manner
specified in the Fund's charter documents and then-current Prospectus and
Statement of Additional Information.
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SCHEDULE B
Name of Separate Account
Farm Bureau Life Annuity Account
Farm Bureau Life Variable Account
