EXHIBIT (8)(i)(ii)
AMENDMENT TO FUND PARTICIPATION AGREEMENT
American General Life Insurance Company, Templeton Variable Products Series
Fund, and Franklin Xxxxxxxxx Distributors, Inc. hereby amend their Fund
Participation Agreement dated as of April 1, 1999, ("Agreement"), by:
1. Adding Franklin Xxxxxxxxx Variable Insurance Products Trust ("VIP"),
an open-end management investment company organized as a business
trust under Massachusetts law, as a party to the Agreement between
and among Templeton Variable Products Series Fund ("TVP"), an open-
end management investment company organized as a business trust under
Massachusetts law (both Templeton Variable Products Series Fund and
Franklin Xxxxxxxxx Variable Insurance Products Trust shall
hereinafter be referred to as the "Trust"), Franklin Xxxxxxxxx
Distributors, Inc., a California corporation, the Trust's principal
underwriter (the "Underwriter") and American General Life Insurance
Company, a life insurance company organized as a corporation under
Texas law (the "Company").
2. Adding Article IX, "Agreement"
AGREEMENT
9.1 Form of Agreement. This Agreement shall create a separate
agreement for each Trust and the Underwriter as though each
Trust and the Underwriter had separately executed an identical
Fund Participation Agreement with the Company. No rights,
responsibilities or liabilities arising under the Agreement as
it pertains to one Trust shall be enforceable by or against any
party to the Agreement as it pertains to another Trust.
3. Adding Franklin Xxxxxxxxx Variable Insurance Products Trust to
Article VII, "Notices"
If to the Trust:
Franklin Xxxxxxxxx Variable Insurance Products Trust
000 Xxxxxxxx Xxxxxx Xxxxxxxxx
Xxx Xxxxx, XX 00000
Attention: Xxxxx X. Xxxxxxxx, Assistant Vice
President & Assistant Secretary
4. Replacing Schedules A, B, and C with amended Schedule A-C, attached;
5. Replacing Schedule D with amended Schedule D, attached;
6. Replacing Schedule E with amended Schedule E, attached.
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IN WITNESS WHEREOF, the parties have caused their duly authorized officers
to execute this Amendment to Fund Participation Agreement, to be effective as of
[ ], 1999.
American General Life Insurance Company Templeton Variable Products Series Fund
--------------------------------------- ---------------------------------------
By its authorized officer By its authorized officer
By:____________________________________ By:______________________________
Name: Name: Xxxxx X. Xxxxxxxx
Title: Title: Assistant Vice President and Assistant Secretary
Franklin Xxxxxxxxx Variable Insurance Products Trust
-------------------------------------------------------
By its authorized officer
By:_______________________________
Name: Xxxxx X. Xxxxxxxx
Title: Assistant Vice President and Assistant Secretary
Franklin Xxxxxxxxx Distributors, Inc.
-------------------------------------
By its authorized officer
By:__________________________________
Name: Xxxxxxx Xxxxxx
Title: Senior Vice President
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SCHEDULE A-C
Contracts Issued by American General Life Insurance Company
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CONTRACT 1 CONTRACT 2 CONTRACT 3
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CONTRACT/PRODUCT NAME Platinum Investor Legacy Plus VUL Key Legacy Plus VUL
AND TYPE Variable Annuity
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REGISTERED (Y/N) Yes Yes Yes
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SEC REGISTRATION 333-70667 333-53909 333-89897
NUMBER -1933 ACT
-----------------------------------------------------------------------------------------------------------
REPRESENTATIVE FORM 98020 98615 99616
NUMBERS
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SEPARATE ACCOUNT American General Life American General Life American General Life
NAME/DATE ESTABLISHED Insurance Company Insurance Company Insurance Company
Separate Account D Separate Account VL-R - Separate Account VL-R -
May 6, 1997 May 6, 1997
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SEC REGISTRATION 811-02441 811-08561 811-08561
NUMBER - 1940 ACT
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TEMPLETON VARIABLE TVP - Templeton Asset TVP - Templeton TVP - Templeton
PRODUCTS SERIES FUND Allocation Fund - Developing Markets Fund - International Fund -
("TVP"), FRANKLIN Class 2 (Templeton Class 2 (Templeton Asset Class 2 (Templeton
TEMPLETON VARIABLE Investment Counsel, Management Ltd.) Investment Counsel, Inc.)
INSURANCE PRODUCTS Inc.)
TRUST ("VIP") TVP - Templeton VIP - Franklin Small Cap
-PORTFOLIOS, CLASSES TVP - Xxxxxxxxx International Fund - Fund - Class 2 (Franklin
AND ADVISER International Fund - Class 2 (Templeton Advisers, Inc.)
Class 2 (Xxxxxxxxx Investment Counsel, Inc.)
Investment Counsel,
Inc.) TVP - Franklin Small Cap
Investments Fund - Class
2 (Franklin Advisers,
Inc.)
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SCHEDULE A-C
Contracts Issued by American General Life Insurance Company
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CONTRACT 4 CONTRACT 5 CONTRACT 6
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CONTRACT/PRODUCT NAME The One Solution VUL
AND TYPE
-----------------------------------------------------------------------------------------------------------
REGISTERED (Y/N) Yes
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SEC REGISTRATION 333-87307
NUMBER -1933 ACT
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REPRESENTATIVE FORM 99615
NUMBERS
-----------------------------------------------------------------------------------------------------------
SEPARATE ACCOUNT American General Life
NAME/DATE ESTABLISHED Insurance Company
Separate Account VL-R
- May 6, 1997
-----------------------------------------------------------------------------------------------------------
SEC REGISTRATION 811-08561
NUMBER - 1940 ACT
-----------------------------------------------------------------------------------------------------------
TEMPLETON VARIABLE TVP - Templeton
PRODUCTS SERIES FUND Developing Markets
("TVP"), FRANKLIN Fund - Class 2
TEMPLETON VARIABLE (Templeton Asset
INSURANCE PRODUCTS Management Ltd.)
TRUST ("VIP")
-PORTFOLIOS, CLASSES VIP - Franklin Small
AND ADVISER Cap Fund - Class 2
(Franklin Advisers,
Inc.)
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SCHEDULE D
OTHER PORTFOLIOS AVAILABLE UNDER THE CONTRACTS
----------------------------------------------
Platinum Investor Variable Annuity: Legacy Plus VUL:
----------------------------------- ----------------
AIM Variable Insurance Funds, Inc. AIM Variable Insurance Funds, Inc.
AIM V.I. International Equity Fund V.I. International Equity Fund
AIM V.I. Value Fund V.I. Value Fund
American General Series Portfolio Company American General Series Portfolio Company
International Equities Fund Money Market Fund
MidCap Index Fund
Money Market Fund
Stock Index Fund
Dreyfus Variable Investment Fund BT Insurance Funds Trust
Quality Bond Portfolio Equity 500 Index
Small Cap Portfolio EAFE Equity Index
Dreyfus Socially Responsible Growth Fund, Inc.
MFS Variable Insurance Trust Xxxxxx Xxxxxxx Universal Funds, Inc.
MFS Emerging Growth Series Equity Growth
Xxxxxx Xxxxxxx Universal Funds, Inc. MFS Variable Insurance Trust
Equity Growth Portfolio MFS Emerging Growth Series
High Yield Portfolio
SAFECO Resource Series Trust Xxxxxx Variable Trust
Equity Portfolio Xxxxxx VT Diversified Income Fund
Growth Portfolio Xxxxxx VT Growth & Income Fund
Xxx Xxxxxx American Capital Life Investment Trust
Strategic Stock Portfolio
Xxxxxxxxxxx Variable Account Funds
Xxxxxxxxxxx High Income
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SCHEDULE D
OTHER PORTFOLIOS AVAILABLE UNDER THE CONTRACTS
----------------------------------------------
(CONTINUED)
Key Legacy Plus The One VUL Solution
--------------- --------------------
AIM Variable Insurance Funds, Inc. AIM Variable Insurance Funds, Inc.
---------------------------------- -----------------------------------
AIM V.I. International Equity Fund AIM V.I. Capital Appreciation Fund
--------------------------------------------
AIM V.I. Government Securities Fund
---------------------------------------------
AIM V.I. High Yield Fund
----------------------------------
AIM V.I. International Equity Fund
--------------------------------------------
American Century Variable Portfolios, Inc. American General Series Portfolio Company
------------------------------------------ -----------------------------------------
VP Value Fund Money Market Fund
American General Series Portfolio Company Xxxxxx Variable Series
----------------------------------------- ----------------------
Money Market Fund Xxxxxx International Portfolio
Xxxxxx Small Cap Value Portfolio
MFS Variable Insurance Trust MFS Variable Insurance Trust
---------------------------- ----------------------------
MFS Total Return Series MFS Growth With Income Series
Xxxxxxxxx Xxxxxx Advisers Management Trust Xxxxxxxxxxx Variable Account Funds
------------------------------------------ ----------------------------------
Partners Portfolio Xxxxxxxxxxx High Income Fund/VA
Xxxxxxxxxxx Variable Account Funds One Group Investment Trust
---------------------------------- --------------------------
Xxxxxxxxxxx High Income Fund/VA One Group Investment Trust Diversified Equity
Portfolio
One Group Investment Trust Equity Index Portfolio
One Group Investment Trust Government Bond Portfolio
One Group Investment Trust Large Cap Growth
Portfolio
One Group Investment Trust Mid Cap Growth Portfolio
Xxxxxx Variable Trust Xxxxxx Variable Trust
--------------------- --------------------------------------------------------------
Xxxxxx VT Diversified Income Fund Xxxxxx VT Vista Fund
Xxx Xxxxxx Life Investment Trust Xxx Xxxxxx Life Investment Trust
-------------------------------- --------------------------------------------------------------
Emerging Growth Portfolio Emerging Growth Portfolio
Victory Variable Insurance Funds
--------------------------------
Diversified Stock Fund
Investment Quality Bond Fund
Small Cap Opportunity Fund
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SCHEDULE E
RULE 12B-1 PLANS
Compensation Schedule
---------------------
Each Portfolio named below shall pay the following amounts pursuant to the terms
and conditions referenced below under its Class 2 Rule 12b-1 Distribution Plan,
stated as a percentage per year of Class 2's average daily net assets
represented by shares of Class 2.
Trust and Portfolio Maximum Annual Payment Rate
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TVP - FRANKLIN SMALL CAP INVESTMENTS FUND 0.25%
TVP - TEMPLETON ASSET ALLOCATION FUND 0.25%
TVP - TEMPLETON DEVELOPING MARKETS FUND 0.25%
TVP - XXXXXXXXX INTERNATIONAL FUND 0.25%
VIP - FRANKLIN SMALL CAP FUND 0.25%
Agreement Provisions
--------------------
If the Company, on behalf of any Account, purchases Trust Portfolio shares
("Eligible Shares") which are subject to a Rule 12b-1 Plan adopted under the
1940 Act (the "Plan"), the Company may participate in the Plan.
To the extent the Company or its affiliates, agents or designees (collectively
"you") you provide administrative and other services which assist in the
promotion and distribution of Eligible Shares or Variable Contracts offering
Eligible Shares, the Underwriter, the Trust or their affiliates (collectively,
"we") may pay you a Rule 12b-1 fee. "Administrative and other services" may
include, but are not limited to, furnishing personal services to owners of
Contracts which may invest in Eligible Shares ("Contract Owners"), answering
routine inquiries regarding a Portfolio, coordinating responses to Contract
Owner inquiries regarding the Portfolios, maintaining such accounts or providing
such other enhanced services as a Trust Portfolio or Contract may require,
maintaining customer accounts and records, or providing other services eligible
for service fees as defined under NASD rules. Your acceptance of such
compensation is your acknowledgment that eligible services have been rendered.
All Rule 12b-1 fees, shall be based on the value of Eligible Shares owned by the
Company on behalf of its Accounts, and shall be calculated on the basis and at
the rates set forth in the Compensation Schedule stated above. The aggregate
annual fees paid pursuant to each Plan shall not exceed the amounts stated as
the "annual maximums" in the Portfolio's prospectus, unless an increase is
approved by shareholders as provided in the Plan. These maximums shall be a
specified percent of the value of a Portfolio's net assets attributable to
Eligible Shares owned by the Company on behalf of its Accounts (determined in
the same manner as the Portfolio uses to compute its net assets as set forth in
its effective Prospectus).
You shall furnish us with such information as shall reasonably be requested by
the Trust's Boards of Trustees ("Trustees") with respect to the Rule 12b-1 fees
paid to you pursuant to the Plans. We shall furnish to the Trustees, for their
review on a quarterly basis, a written report of the amounts expended under the
Plans and the purposes for which such expenditures were made.
The Plans and provisions of any agreement relating to such Plans must be
approved annually by a vote of the Trustees, including the Trustees who are not
interested persons of the Trust and who have no financial interest in the Plans
or any related agreement ("Disinterested Trustees"). Each Plan may be terminated
at any time by the vote of a majority of the Disinterested Trustees, or by a
vote of a majority of the outstanding shares
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as provided in the Plan, on sixty (60) days' written notice, without payment of
any penalty. The Plans may also be terminated by any act that terminates the
Underwriting Agreement between the Underwriter and the Trust, and/or the
management or administration agreement between Franklin Advisers, Inc. or
Xxxxxxxxx Investment Counsel, Inc. or their affiliates and the Trust.
Continuation of the Plans is also conditioned on Disinterested Trustees being
ultimately responsible for selecting and nominating any new Disinterested
Trustees. Under Rule 12b-1, the Trustees have a duty to request and evaluate,
and persons who are party to any agreement related to a Plan have a duty to
furnish, such information as may reasonably be necessary to an informed
determination of whether the Plan or any agreement should be implemented or
continued. Under Rule 12b-1, the Trust is permitted to implement or continue
Plans or the provisions of any agreement relating to such Plans from year-to-
year only if, based on certain legal considerations, the Trustees are able to
conclude that the Plans will benefit each affected Trust Portfolio and class.
Absent such yearly determination, the Plans must be terminated as set forth
above. In the event of the termination of the Plans for any reason, the
provisions of this Schedule E relating to the Plans will also terminate.
Any obligation assumed by the Trust pursuant to this Agreement shall be limited
in all cases to the assets of the Trust and no person shall seek satisfaction
thereof from shareholders of the Trust. You agree to waive payment of any
amounts payable to you by Underwriter under a Plan until such time as the
Underwriter has received such fee from the Fund.
The provisions of the Plans shall control over the provisions of the
Participation Agreement, including this Schedule E, in the event of any
inconsistency.
You agree to provide complete disclosure as required by all applicable statutes,
rules and regulations of all rule 12b-1 fees received from us in the prospectus
of the contracts.
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