AMENDMENT NO. 5 FUND PARTICIPATION AGREEMENT

AMENDMENT NO. 5

FUND PARTICIPATION AGREEMENT

Amendment No. 5 (the “Amendment”), executed as of September 12, 2014 and effective as of October 1, 2014 (the “Effective Date”) to the Fund Participation Agreement (the “Agreement”), dated October 16, 2009, as amended, by and among AXA Equitable Life Insurance Company, MONY Life Insurance Company of America, BlackRock Variable Series Funds, Inc., BlackRock Advisors, LLC and BlackRock Investments, LLC (collectively, the “Parties”).

WHEREAS, the Parties wish to clarify the investment funds of BlackRock Variable Series Funds, Inc. offered pursuant to the Agreement;

The Parties hereby agree to amend the Agreement as follows:

1. Schedule B. Schedule B of the Agreement is hereby deleted in its entirety and replaced with the attached “Schedule B”.

2. Counterparts. This Amendment may be executed in counterparts, each of which shall be deemed an original, but all of which shall constitute one and the same instrument.

Except as modified and amended hereby, the Agreement is hereby ratified and confirmed in full force and effect in accordance with its terms.

IN WITNESS WHEREOF, the Parties have executed and delivered this Amendment No 5. as of the Effective Date.

BLACKROCK VARIABLE SERIES FUNDS, INC.
By:
Name:		Xxxxxxx Xxxx
Title:		Vice President
BLACKROCK ADVISORS, LLC
By:
Name:		Xxxx Xxxx
Title:		Managing Director
BLACKROCK INVESTMENTS, LLC
By:
Name:		Xxxxxxxx Xxxx
Title:		Director

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AXA EQUITABLE LIFE INSURANCE COMPANY, on behalf of itself and its separate accounts

By:
Name:		Xxxxxx X. Xxxxx
Title:		Managing Director

MONY LIFE INSURANCE COMPANY OF AMERICA, on behalf of itself and its separate accounts

By:
Name:		Xxxxx X. Xxxxx
Title:		Senior Vice President

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Schedule B

PORTFOLIOS

All portfolios of BlackRock Variable Series Funds, Inc. now or in the future available to Separate Accounts of the Company, including, but not limited to:

Fund Name		Class		Cusip		Ticker
Equity Funds
BlackRock Basic Value V.I. Fund		I		00000X000		XXXXX
BlackRock Basic Value V.I. Fund		II		00000X000		BAVII
BlackRock Basic Value V.I. Fund		III		00000X000		BVIII
BlackRock Capital Appreciation V.I. Fund		I		00000X000		FDGRI
BlackRock Capital Appreciation X.X. Xxxx		XXX		00000X000		XXXXX
BlackRock Equity Dividend V.I. Fund		I		00000X000		UTTLI
BlackRock Equity Dividend V.I. Fund		III		00000X000		UTIII
BlackRock Global Allocation V.I. Fund		I		00000X000		GLALI
BlackRock Global Allocation X.X. Xxxx		XX		00000X000		XXXXX
BlackRock Global Allocation V.I. Fund		III		00000X000		GAIII
BlackRock Global Opportunities V.I. Fund		I		00000X000		GLGRI
BlackRock Global Opportunities V.I. Fund		III		00000X000		GGIII
BlackRock International V.I. Fund		I		00000X000		IVVVI
BlackRock iShares Alternative Strategies V.I. Fund		I		00000X000		BVASX
BlackRock iShares Alternative Strategies X.X. Xxxx		XXX		00000X000		BASVX
BlackRock iShares Dynamic Allocation V.I. Fund		I		00000X000		BVDAX
BlackRock iShares Dynamic Allocation X.X. Xxxx		XXX		00000X000		BDAVX
BlackRock iShares Equity Appreciation V.I. Fund		I		00000X000		BVEAX
BlackRock iShares Equity Appreciation X.X. Xxxx		XXX		00000X000		BEAVX
BlackRock Large Cap Core V.I. Fund		I		00000X000		LGCCI
BlackRock Large Cap Core V.I. Fund		II		00000X000		LGCII
BlackRock Large Cap Core X.X. Xxxx		XXX		00000X000		LCIII
BlackRock Large Cap Growth V.I. Fund		I		00000X000		LGGGI
BlackRock Large Cap Growth X.X. Xxxx		XXX		00000X000		XXXXX
BlackRock Large Cap Value V.I. Fund		I		00000X000		LCATT
BlackRock Large Cap Value V.I. Fund		II		00000X000		LCBTT
BlackRock Large Cap Value V.I. Fund		III		00000X000		LVIII
BlackRock Managed Volatility V.I. Fund		I		00000X000		AMBLI
BlackRock Value Opportunities V.I. Fund		I		00000X000		SMCPI
BlackRock Value Opportunities V.I. Fund		II		00000X000		SMCII
BlackRock Value Opportunities V.I. Fund		III		00000X000		SCIII
Fixed Income Funds
BlackRock High Yield V.I. Fund		I		00000X000		HICUI
BlackRock High Yield V.I. Fund		III		00000X000		HCIII
BlackRock iShares Dynamic Fixed Income V.I. Fund		I		00000X000		BVDFX
BlackRock iShares Dynamic Fixed Income X.X. Xxxx		XXX		00000X000		BDFVX
BlackRock Total Return V.I. Fund		I		00000X000		CRBDI
BlackRock Total Return V.I. Fund		III		00000X000		CBIII
BlackRock U.S. Government Bond V.I. Fund		I		00000X000		GVBDI
BlackRock U.S. Government Bond X.X. Xxxx		XXX		00000X000		XXXXX

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Index Fund
BlackRock S&P 500 Index V.I. Fund		I		00000X000		IDXVI
BlackRock S&P 500 Index X.X. Xxxx		XX		00000X000		IXVII
Money Market Fund
BlackRock Money Market V.I. Fund*		I		00000X000		DMMKI

* No payments for operational & recordkeeping/administrative services will be made on this Portfolio.

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