Re: Participation Agreement among Variable Insurance Products Fund (“Fund I”),
| [Fidelity Investments Logo] |
| May 16, 2007 |
Reliastar Life Insurance Company of New York
Mr. J. Xxxx XxXxxxxx
000 Xxxxxxxxxx Xxx, XX00
Xxxxxxxx, Xxxxxxxxxxx 00000-0000
| Re: | Participation Agreement among Variable Insurance Products Fund (“Fund I”), | |
| Fidelity Distributors Corporation (the “Underwriter”) and Insurance Company | ||
| (the “Company”), dated March 9, 1995, as amended (“Participation Agreement | ||
| I”); and | ||
| Participation Agreement among Variable Insurance Products Fund II (“Fund II”), | ||
| the Underwriter and the Company, dated March 9, 1995, as amended | ||
| (“Participation Agreement II”) | ||
| Dear Xx. XxXxxxxx: |
The Company, the Underwriter, and Fund I and Fund II, respectively, are parties to the above referenced
Participation Agreements (Fund I and Fund II are referred to as the “Current Funds”). As explained in
the notice sent to you on May 3, 2007, Fidelity is in the process of reorganizing some of the portfolios of
the Current Funds (the “Affected Portfolios”) for administrative purposes. In connection with this
reorganization, the Affected Portfolios will be moved into corresponding “shell” portfolios of a new
Variable Insurance Products Fund V (“Fund V”). A list of all of the Affected Portfolios in Fund I and
Fund II covered by the reorganization and the corresponding Fund V portfolios is set forth on the
attached Exhibit.
In connection with this change, we are asking for your consent to (1) the amendment of each
Participation Agreement to add Fund V as a “Fund” party under the terms of each Participation
Agreement (the “Amendment”); and (2) the assignment of all of each Current Fund’s rights, benefits and
obligations under each Participation Agreement with respect to the Affected Portfolios to Fund V, with
respect to the corresponding portfolios of Fund V, and the release of the Current Funds from the
obligations so assigned (the “Assignment”). Each Participation Agreement will remain in full force and
effect in accordance with its terms, as so amended and assigned herein. The Amendment will also add
the following clarifying language to each Participation Agreement as a new Article A of the Agreement:
This Agreement shall create a separate participation agreement for each Fund, as though the Company
and the Underwriter had executed a separate, identical form of participation agreement with each Fund.
No rights, responsibilities or liabilities of any Fund shall be attributed to any other Fund.
Your signature below will indicate the Company’s consent to the Amendment and Assignment of each
Participation Agreement as set forth above, to become effective immediately upon consummation of the
reorganization.
Thank you for your prompt attention to this matter. If for some reason we have not obtained your
signature prior to the reorganization, and the Company submits orders or instructions under the
Participation Agreements, we will deem the Company to have consented to each Amendment and
Assignment. Please do not hesitate to contact your Fidelity Relationship Manager or Key Account
Manager if you have any questions.
| Very truly yours, |
FIDELITY DISTRIBUTORS CORPORATION
By: ____________________________________
Name: Xxxxxxx Xxxxxxxx
Title: Executive Vice President
VARIABLE INSURANCE PRODUCTS FUND,
VARIABLE INSURANCE PRODUCTS FUND II and
VARIABLE INSURANCE PRODUCTS FUND V
By: _______________________________________
Name: Xxxxxxxxx Xxxxxxxxxx
Title: Treasurer
The Undersigned Consents to the Amendment and Assignment of each Participation Agreement as of
this ____ day of ___________,
2007:
RELIASTAR LIFE INSURANCE COMPANY OF NEW YORK
By: ________________________________________
Name: Xxxxx X. Xxxxx
Title: S.V. President
Please keep one copy and return the other to:
Xxxxxx Xxxxxx, Director, Contracts Management
Fidelity Investments 000 Xxxxx Xxxxxx, X0X
Xxxxxxxxxx, XX 00000
| Exhibit A |
| AFFECTED PORTFOLIOS | FUND V PORTFOLIOS |
| Variable Insurance Products Fund | Variable Insurance Products Fund V |
| Money Market Portfolio | Money Market Portfolio |
| Variable Insurance Products Fund II | |
|
Asset Manager Portfolio Variable Insurance Products Fund IV Freedom Income Portfolio |
Asset Manager Portfolio
Freedom Income Portfolio |
