EXHIBIT 27(h)(1)(ii)
AMENDMENT NUMBER ONE
TO THE
PARTICIPATION AGREEMENT
AMONG
ADVANTUS SERIES FUND, INC.
ADVANTUS CAPITAL MANAGEMENT, INC.
AND
MINNESOTA LIFE INSURANCE COMPANY
This Amendment modifies the existing Participation Agreement made March 1, 2000,
by and between Advantus Series Fund, Inc., a Minnesota corporation (hereinafter
called the "Fund"), Advantus Capital Management, Inc., (hereinafter the
"Adviser") and Minnesota Life Insurance Company, (hereinafter "Minnesota Life").
This Amendment shall be effective on February 9, 2001.
I
The Agreement shall be modified so that paragraph 1.12 is added to Article I.,
"Purchase and Redemption of Fund Portfolio Shares". Article I shall be amended
as follows:
1.12 In the event adjustments are required to correct any material error in
the computation of the net asset value of the Fund's shares, the Fund shall
notify Minnesota Life as soon as practicable after discovering the need for
those adjustments which result in a reimbursement to an Account in
accordance with the Fund's then current policies on reimbursement, which
the Fund represents are consistent with applicable SEC standards. If an
adjustment is to be made in accordance with such policies to correct an
error which has caused an Account to receive an amount different than that
to which it is entitled, the Fund shall make all necessary adjustments to
the number of shares owned in the Account and distribute to the Account the
amount of such underpayment for credit to Minnesota Life's Contract/Policy
Owners.
IN WITNESS WHEREOF, the Fund, the Adviser and the Minnesota Life have caused
this amendment to be executed in triplicate by their duly authorized officers.
Executed on this ___ day of ________, 2001 in St. Xxxx, Minnesota.
ADVANTUS SERIES FUND, INC.
By
------------------------------------------------
Its
-----------------------------------------------
ADVANTUS CAPITAL MANAGEMENT, INC.
By
------------------------------------------------
Its
-----------------------------------------------
MINNESOTA LIFE INSURANCE COMPANY
By
------------------------------------------------
Its
-----------------------------------------------
