Exhibit 8(b)(iii)
AMERICAN FUNDS RULE 22c-2 AGREEMENT
WHEREAS, American Funds Service Company ("AFS") serves as transfer
agent for the American Funds group of mutual funds (the "Funds");
WHEREAS, the financial intermediary that has executed this American
Funds Rule 22c-2 Agreement ("Intermediary") submits trades on behalf of indirect
intermediaries that maintain on the books of AFS one or more omnibus accounts
that hold shares of the Funds on behalf of its customers that are invested in
the Funds and for which the indirect intermediary maintains individual accounts;
WHEREAS, pursuant to Rule 22c-2 under the Investment Company Act of
1940, the Funds are required to enter into an agreement with Intermediary under
which Intermediary is required to provide the Funds, upon request, with certain
shareholder and account information and to prohibit transactions that violate
each Fund's prospectus;
NOW, THEREFORE, in consideration of the premises and mutual covenants
hereinafter contained, the parties hereby agree as follows:
(1) Shareholder Information
(a) Agreement to Provide Information. Intermediary agrees to provide
AFS, upon written request, the taxpayer identification number ("TIN"),
if known, of any or all Shareholder(s) of the account and the amount,
date, name or other identifier of any investment professional(s)
associated with the Shareholder(s) or account (if known), and
transaction type (purchase, redemption, transfer, or exchange) of every
purchase, redemption, transfer, or exchange of Shares held through an
account maintained by the Intermediary during the period covered by
the request.
(i) Period Covered by Request. Requests must set forth a
period, not to exceed 90 days from the date of the
request, for which transaction inforamtion is sought. AFS
may request transaction information older than 90 days
from the date of the request as it deems necessary to
investigate compliance with policies established by the
Funds for the purpose of eliminating or reducing any
dilution of the value of the outstanding shares issued by
the Funds.
(ii) Form and Timing of Response. Intermediary agrees to
transmit the requested information that is on its books and
records to AFS or its designee promptly, but in any event
not later than 10 business days after receipt of a request.
If the requested information is not on the Intermediary's
books and records, Intermediary agrees to: (A) provide or
arrange to provide to AFS the requested information from
shareholders who hold an account with an indirect
intermediary, and; (B) if directed by AFS, block further
purchases of Fund Shares from such indirect intermediary.
Responses required by this paragraph must be communicated in
writing and in a format mutually agreed upon by the parties.
To the extent practicable, the format for any transaction
information provided to AFS should be consistent with
the NSCC Standardized Data Reporting Format.
(iii) Limitations on Use of Information. AFS agrees not to use
the information received for marketing or any other similar
purpose without the prior written consent of the
Intermediary.
(b) Agreement to Restrict Trading. Intermediary agrees to execute
written instructions from AFS to restrict or prohibit further
purchases or exchanges of Shares by a Shareholder that has been
identified by AFS as having engaged in transactions of the Funds'
Shares (directly or indirectly through the Intermediary's account)
that violate policies established by the Funds for the purpose of
eliminating or reducing any dilution of the value of the
outstanding Shares issued by the Funds.
(i) Form of Instructions. Instructions must include
TIN, if known, and the specific restriction(s)
to be executed. If the TIN is not known, the
instructions must include an equivalent
identifying number of the Shareholder(s) or
account(s) or other agreed upon information to
which the instruction relates.
(ii) Timing of Response. Intermediary agrees to
execute instructions as soon as reasonably
practicable, but not later than ten business
days after receipt of the instructions by the
Intermediary.
(iii) Confirmation by Intermediary. Intermediary must
provide written confirmation to AFS that
instructions have been executed. Intermediary
agrees to provide confirmation as soon as
reasonably practicable, but not later than 10
business days after the instructions have been
executed.
(c) Definitions. For purposes of this paragraph:
(i) The term "Fund" includes the fund's principal
underwriter and transfer agent. The term does
not include any "excepted funds" as defined in
SEC Rule 22c-2(b) under the Investment Company
Act of 1940.(1)
(ii) The term "Shares" means the interests of
Shareholders corresponding to the redeemable
securities of record issued by the Funds under
the Investment Company Act of 1940 that are
held by the Intermediary. "Shares" also refers
to unit ownership within a variable annuity or
variable life insurance contract issued by a
financial intermediary and for which one or
more of the Funds serve as underlying investments.
(iii) The term "Shareholder" means (A) the Plan
participant notwithstanding that the Plan may
be deemed to be the beneficial owner of Shares,
or (B) the beneficial owner of Shares, whether
the Shares are held directly or by the
Intermediary in nominee name, or (C) the owner
of a variable annuity or variable life
insurance contract issued by a financial
intermediary and for which one or more of the
Funds serve as underlying investments.
(iv) The term "written" includes electronic writings
and facsimile transmissions.
(v) The term "indirect intermediary" has the same meaning as in
SEC Rule 22c-2 under the Investment Company Act.
IN WITNESS WHEREOF, the parties hereto have executed and delivered this
Agreement as of the date below.
AMERICAN FUNDS SERVICE JEFFERSON PILOT LIFE AMERICA
COMPANY INSURANCE COMPANY
JEFFERSON PILOT FINANCIAL
INSURANCE COMPANY
By: /s/ Xxxxx Xxxxxx By:/s/ Xxxx X. Xxxxxx
----------------------------------- -------------------------
Name: Xxxxx Xxxxxx Name: Xxxx X. Xxxxxx
Title: Vice President Title: Vice President
Date: 3/2/07 Date: 2/27/07
LINCOLN NATIONAL LIFE
INSURANCE COMPANY
LINCOLN LIFE & ANNUITY
COMPANY OF NEW YORK
By: /s/ Xxxxx X. Xxxxxxxxx
-------------------------
Name: Xxxxx X. Xxxxxxxxx
Title: Vice President
(2 VP LLANY)
Date: 2/16/07
(1) As defined in SEC Rule 22c-2(b), the term "excepted fund" means any: (1)
money market fund; (2) fund that issues securities that are listed on a national
exchange; and (3) fund that affirmatively permits short-term trading of its
securities, if its prospectus clearly and prominently discloses that the fund
permits short-term trading of its securities and that such trading may result in
additional costs for the fund.
