ADMINISTRATIVE SERVICE AGREEMENT
CERTAIN INFORMATION IN THIS EXHIBIT HAS BEEN REDACTED BECAUSE IT IS BOTH NOT MATERIAL AND WOULD BE COMPETITIVELY HARMFUL IF PUBLICLY DISCLOSED.
ADMINISTRATIVE SERVICE AGREEMENT
This Administrative Service Agreement (the “Agreement”), effective this 11th day of July, 2008 is made by and between Nationwide Financial Services, Inc. (“NFS”) and Xxxx Xxxxx Investor Services, LLC (the “Company”) (a successor in interest to Citigroup Global Markets, Inc., Xxxxxxx Xxxxx Xxxxxx, Inc., Salomon Brothers Inc., Salomon Brothers Asset Management, Inc. and Xxxxx Xxxxxx, Xxxxxx Xxxxx & Co. Incorporated);
WHEREAS, the Company is responsible for certain administrative functions associated with each series of the Funds (each a “Fund”) set forth on Exhibit A, which may be amended from time to time; and
WHEREAS, NFS or its designee provide certain administrative services to the owners of certain variable annuity contracts and/or variable life insurance policies (collectively, the “Variable Products”) issued by Nationwide Life Insurance Company, Nationwide Life and Annuity Insurance Company, Nationwide Life Insurance Company of America and/or Nationwide Life and Annuity Company of America (collectively, “Nationwide”) through certain Nationwide Variable Accounts; and
WHEREAS, the Funds will be included as underlying investment options for the Variable Products issued by Nationwide through the Variable Accounts pursuant to a Fund Participation Agreement previously or contemporaneously entered into by Nationwide and the Company and/or Funds; and
WHEREAS, the Company recognizes substantial savings of administrative expenses as a result of NFS or its subsidiaries performing certain administrative services (“Services”) on behalf of the Funds; and
NOW, THEREFORE, NFS and the Company, in consideration of the undertaking described herein, agree that the Funds will be available as underlying investment options in the Variable Products issued by Nationwide, subject to the following:
1. | NFS or its designee agrees to provide Services for the contract owners of the Variable Products who choose the Funds as underlying investment options. Such Services will include those described on Exhibit B. |
2. | In consideration for the Services to be provided by NFS to the Variable Products pursuant to this Agreement, the Company will calculate and pay NFS a fee (“Service Fee”) at an annualized rate equal to the rates shown on Exhibit A of the average daily net assets of each Fund held by the Variable Accounts during the period in which they were earned. |
3. | The Service Fees will be paid to NFS as soon as practicable, but no later than 30 days after the end of the period in which they were earned. The Service Fees will be paid on a quarterly or monthly basis. |
4. | NFS and the Company agree that the Service Fee described in this Agreement is for administrative services only and does not constitute payment in any manner for investment advisory services or the cost of distribution of the Funds. |
5. | The parties agree that a Service Fee will be paid to NFS according to this Agreement with respect to each Fund as long as shares of such Fund are held by the Variable Accounts. This provision will survive termination of this Agreement and the termination of the related Fund Participation Agreement(s) with Nationwide. |
6. | Either party may terminate this Agreement by at least 60 days’ written notice to the other. In addition, NFS or the Company may terminate this Agreement immediately upon written notice to the other: (1) if required by any applicable law or regulation; (2) if NFS or the Company engage in any material breach of this Agreement; or (3) in the event of an assignment as defined by Section 2(a)(4) of the Investment Company Act of 1940. This Agreement will terminate immediately and automatically with respect to Funds held in the Variable Accounts upon the termination of the Fund Participation Agreement which governs a Fund’s inclusion as an underlying investment option in the Variable Products and in such event no notice is required under this Agreement. |
7. | Each notice required by this Agreement shall be given by wire and confirmed in writing to: |
If to NFS:
Nationwide Financial Services, Inc.
One Nationwide Plaza
Columbus, Ohio 43215
Attention: Securities Officer
Fax: (000) 000-0000
If to the Company:
Xxxx Xxxxx Investor Services, LLC
000 Xxxxx Xxxxxxxx Xxxxx, 0xx Xxxxx
Stamford, CT 06902
Attention: Xxxx Xxxxxx
Fax Number: (000) 000-0000
8. | This Agreement shall be construed and the provisions hereof interpreted in accordance with the laws of Delaware, without regards to conflict of law provisions thereof. This Agreement shall be subject to the provisions of the federal securities statutes, rules and regulations, including such exemptions from those statutes, rules and regulations as the Securities and Exchange Commission may grant and the terms hereof shall be interpreted and construed in accordance therewith. |
9. | Each of the parties to this Agreement acknowledges and agrees that this Agreement and the arrangements described herein are intended to be non-exclusive and that each of the parties is free to enter into similar agreements or arrangements with other entities. |
10. | This Agreement may not be assigned unless agreed to by the parties in writing, except that it shall be assigned automatically to any successor either party, and any such successor shall be bound by the terms of this Agreement. |
2
11. | This Agreement supersedes any and all prior agreements made by and between the parties relevant to the subject of this Agreement, including but not limited to the following agreements: |
1) Administrative Services Agreement dated September 1999 between Nationwide Financial Services, Inc. and Salomon Brothers Asset Management Inc. and Amendment dated September 22, 2000.
2) Assignment of Agreement from Citigroup to Xxxx Xxxxx via letter dated September 27, 2005 and signed by Nationwide November 11, 2005.
Each party hereby represents and warrants to the other that the persons executing this Agreement on its behalf are duly authorized and empowered to execute and deliver the Agreement and that the Agreement constitutes a legal, valid and binding obligation, and is enforceable in accordance with its terms.
NATIONWIDE FINANCIAL SERVICES, INC. |
By: | /s/ Xxxxx X. Xxxxxx |
Xxxxx X. Xxxxxx | ||
Associate Vice President – NF Investment Offerings |
XXXX XXXXX INVESTOR SERVICES, LLC |
By: | /s/ illegible |
Name: | ||
Title: |
3
EXHIBIT A
TO ADMINISTRATIVE SERVICE AGREEMENT
The Administrative Service Agreement between Nationwide and Xxxx Xxxxx Investor Services is applicable to the following portfolios of the Fund:
Portfolios Available Under The Contracts |
Service Fee | |
Xxxx Xxxxx Partners Capital and Income Portfolio Class I |
[***] | |
Xxxx Xxxxx Partners Variable Fundamental Value Portfolio Class I |
[***] | |
Xxxx Xxxxx Partners Variable Global High Yield Bond Portfolio Class I |
[***] | |
Xxxx Xxxxx Partners Variable Investors Portfolio Class I |
[***] | |
Xxxx Xxxxx Partners Variable Strategic Bond Portfolio Class I |
[***] | |
Xxxx Xxxxx Partners Small Cap Growth Portfolio Class II |
[***] | |
Xxxx Xxxxx Partners Capital Fund Class A |
[***] | |
Xxxx Xxxxx Partners Diversified Strategic Income Fund Class A |
[***] | |
Xxxx Xxxxx Partners Global High Yield Bond Fund Class A |
[***] | |
Xxxx Xxxxx Partners Small Cap Growth Fund Class A |
[***] |
The applicable annual fee shown herein above shall be of the aggregate investments in the
portfolios of the Fund by all separate accounts of Nationwide related to the Contracts and
Policies as a percentage of the average daily net asset value of such investments.
4
EXHIBIT B
TO ADMINISTRATIVE SERVICE AGREEMENT
Services Provided by NFS
Pursuant to the Agreement, NFS shall perform all administrative and shareholder services with respect to the Variable Products, including but not limited to, the following:
1. | Maintaining separate records for each contract owner, which shall reflect the Fund shares purchased and redeemed and Fund share balances of such contract owners. NFS will maintain a single master account with each Fund on behalf of contract owners and such account shall be in the name of NFS (or its designee) as record owner of shares owned by contract owners. |
2. | Disbursing or crediting to contract owners all proceeds of redemptions of shares of the Funds and all dividends and other distributions not reinvested in shares of the Funds. |
3. | Preparing and transmitting to contract owners, as required by law, periodic statements showing the total number of shares owned by contract owners as of the statement closing date, purchases and redemptions of Fund shares by the contract owners during the period covered by the statement and the dividends and other distributions paid during the statement period (whether paid in cash or reinvested in Fund shares), and such other information as may be required, from time to time, by contract owners. |
4. | Supporting and responding to service inquiries from contract owners. |
5. | Maintaining and preserving all records required by law to be maintained and preserved in connection with providing the Services for contract owners. |
6. | Generating written confirmations and quarterly statements to Contract owners/participants. |
7. | Distributing to contract owners, to the extent required by applicable law, Funds’ prospectuses, proxy materials, periodic fund reports to shareholders and other materials that the Funds are required by law or otherwise to provide to their shareholders or prospective shareholders. |
8. | Transmitting purchase and redemption orders to the Funds on behalf of the contract owners. |
5
CERTAIN INFORMATION IN THIS EXHIBIT HAS BEEN REDACTED BECAUSE IT IS BOTH NOT MATERIAL AND WOULD BE COMPETITIVELY HARMFUL IF PUBLICLY DISCLOSED.
FIRST AMENDMENT TO
ADMINISTRATIVE SERVICES AGREEMENT
This First Amendment to Administrative Services Agreement (“Amendment”) dated as of July 21, 2009, is entered into by and among Nationwide Financial Services, Inc., (“NFS”) and Xxxx Xxxxx Investor Services, LLC (the “Company”), collectively the “Parties”.
WHEREAS, the Parties entered into a Administrative Services Agreement dated July 11, 2008 (the “Agreement”);
WHEREAS, NFS and the Company desire to amend the Agreement.
NOW, THEREFORE, NFS and the Company agree to the following:
1. | Exhibit A is deleted in its entirety and replaced with the Exhibit A attached hereto. |
2. | The following language is hereby added to the Agreement: |
Each party may disclose that it has entered into this arrangement. No party shall disclose, without the prior consent of the other party(ies) the compensation terms included herein except: (i) as required by applicable law, rule, regulation or directive of any governmental or self-regulatory authority, or any court of competent jurisdiction or other validly issued legal process; or (ii) at the reasonable discretion of Nationwide only as it relates to the payments of fees on assets held in Nationwide’s unregistered private placement variable life insurance products.
3. | Section 7 of the Agreement is deleted in its entirety and replaced with the following: |
All notices and other communications to either the Company or NFS will be duly given if mailed, telegraphed or telecopied to the address set forth below, or at such other address as either party may provide in writing to the other party.
If to NFS:
Nationwide Financial Services, Inc.
One Nationwide Plaza, 2-02-18
Columbus, Ohio 43215
Attention: AVP, NIA Operations and Third Party Relations
If to the Company:
Xxxx Xxxxx Investor Services, Inc.
000 Xxxxx Xxxxxxxx Xxxxx
Stamford, CT, 06902
Fax: 000-000-0000
Attention: Business Development
Page 1 of 3
4. | Except as specifically set forth herein, all other provisions of the Agreement shall remain in full force and effect. |
IN WITNESS WHEREOF, the undersigned have executed this Amendment as of the date first written above.
NATIONWIDE FINANCIAL SERVICES, INC. |
/s/ Xxxxxx X. Xxxxxx |
By: | Xxxxxx X. Xxxxxx |
Title: | AVP, NIA Operations and Third Party Relations |
XXXX XXXXX INVESTOR SERVICES, LLC | ||
/s/ illegible | ||
By: | ||
Title: |
Page 2 of 3
EXHIBIT A
TO ADMINISTRATIVE SERVICE AGREEMENT
The Administrative Service Agreement between Nationwide and Xxxx Xxxxx Investor Services is applicable to the following portfolios of the Fund and all current and future funds available:
Portfolios Available Under The Contracts |
Service Fee |
Cusips | ||||
Xxxx Xxxxx Partners Variable Capital and Income Portfolio Class I |
[***] | 00000X000 | ||||
Xxxx Xxxxx Partners Fundamental Value Portfolio Class I |
[***] | 00000X000 | ||||
Xxxx Xxxxx Partners Variable Global High Yield Bond Portfolio Class I |
[***] | 00000X000 | ||||
Xxxx Xxxxx Partners Variable Investors Portfolio Class I |
[***] | 00000X000 | ||||
Xxxx Xxxxx Partners Variable Strategic Bond Portfolio Class I |
[***] | 00000X000 | ||||
Xxxx Xxxxx Partners Variable Small Cap Growth Portfolio—Class I |
[***] | 00000X000 | ||||
Xxxx Xxxxx Partners Variable Small Cap Growth Portfolio Class II |
[***] | 00000X000 | ||||
Xxxx Xxxxx Partners Variable International All Cap Opportunity Portfolio Single Class |
[***] | 00000X000 | ||||
Xxxx Xxxxx Partners Variable Money Market Portfolio Single Class |
[***] | 00000X000 | ||||
Xxxx Xxxxx Partners Capital Fund Class A |
[***] | 524694106 | ||||
Xxxx Xxxxx Partners Strategic Income Fund Class A |
[***] | 00000X000 | ||||
Xxxx Xxxxx Partners Global High Yield Bond Fund Class A |
[***] | 00000X000 | ||||
Xxxx Xxxxx Partners Small Cap Growth Fund Class A |
[***] | 00000X000 |
The applicable annual fee shown herein above shall be of the aggregate investments in the portfolios of the Fund by all separate accounts of Nationwide related to the Contracts and Policies as a percentage of the average daily net asset value of such investments.
Page 3 of 3
CERTAIN INFORMATION IN THIS EXHIBIT HAS BEEN REDACTED BECAUSE IT IS BOTH NOT MATERIAL AND WOULD BE COMPETITIVELY HARMFUL IF PUBLICLY DISCLOSED.
SECOND AMENDMENT TO
ADMINISTRATIVE SERVICES AGREEMENT
This Second Amendment to Administrative Services Agreement (“Amendment”) dated as of January 17, 2013, is entered into by and among Nationwide Financial Services, Inc., (“NFS”) and Xxxx Xxxxx Investor Services, LLC (the “Company”), collectively the “Parties”.
WHEREAS, the Parties entered into a Administrative Services Agreement dated July 11, 2008 (the “Agreement”), as amended;
WHEREAS, NFS and the Company desire to amend the Agreement.
NOW, THEREFORE, NFS and the Company agree to the following:
1. | Exhibit A is deleted in its entirety and replaced with the Exhibit A attached hereto. |
2. | Except as specifically set forth herein, all other provisions of the Agreement shall remain in full force and effect. |
IN WITNESS WHEREOF, the undersigned have executed this Amendment as of the date first written above.
NATIONWIDE FINANCIAL SERVICES, INC.
/s/ Xxxxxx X. Xxxxxx | ||
By: | Xxxxxx X. Xxxxxx | |
Title: | AVP, IMG External Funds Management Operations |
XXXX XXXXX INVESTOR SERVICES, LLC
/s/ illegible | ||
By: | ||
Title: |
Page 1 of 2
EXHIBIT A
TO ADMINISTRATIVE SERVICE AGREEMENT
The Administrative Service Agreement between Nationwide and Xxxx Xxxxx Investor Services is applicable to the following portfolios of the Fund and all current and future funds available:
Portfolios Available Under the Contracts |
Class | CUSIP | Symbol | Service Fee | ||||
Xxxx Xxxxx ClearBridge Variable Aggressive Growth Portfolio |
I | 00000X000 | QLMGOX | [***] | ||||
Xxxx Xxxxx ClearBridge Variable Aggressive Growth Portfolio |
II | 00000X000 | QLMGTX | [***] | ||||
Xxxx Xxxxx ClearBridge Variable Appreciation Portfolio |
I | 00000X000 | QLMAOX | [***] | ||||
Xxxx Xxxxx ClearBridge Variable Appreciation Portfolio |
II | 00000X000 | TBD | [***] | ||||
Xxxx Xxxxx ClearBridge Variable Equity Income Builder Portfolio |
I | 00000X000 | QLMEIX | [***] | ||||
Xxxx Xxxxx ClearBridge Variable Equity Income Builder Portfolio |
II | 00000X000 | QLMETX | [***] | ||||
Xxxx Xxxxx ClearBridge Variable Fundamental All Cap Value Portfolio |
I | 00000X000 | QLMFIX | [***] | ||||
Xxxx Xxxxx ClearBridge Variable Fundamental All Cap Value Portfolio |
II | 00000X000 | TBD | [***] | ||||
Xxxx Xxxxx ClearBridge Variable Large Cap Growth Portfolio |
I | 00000X000 | QLMLOX | [***] | ||||
Xxxx Xxxxx ClearBridge Variable Large Cap Growth Portfolio |
II | 00000X000 | TBD | [***] | ||||
Xxxx Xxxxx ClearBridge Variable Large Cap Value Portfolio |
I | 00000X000 | QLMVIX | [***] | ||||
Xxxx Xxxxx ClearBridge Variable Large Cap Value Portfolio |
II | 00000X000 | TBD | [***] | ||||
Xxxx Xxxxx ClearBridge Variable Mid Cap Core Portfolio |
I | 00000X000 | QLMMIX | [***] | ||||
Xxxx Xxxxx ClearBridge Variable Mid Cap Core Portfolio |
II | 00000X000 | QLMPTX | [***] | ||||
Xxxx Xxxxx ClearBridge Variable Small Cap Growth Portfolio |
I | 00000X000 | QLMSIX | [***] | ||||
Xxxx Xxxxx ClearBridge Variable Small Cap Growth Portfolio |
II | 00000X000 | QLMSTX | [***] | ||||
Western Asset Variable Global High Yield Bond Portfolio |
I | 00000X000 | QLMYIX | [***] | ||||
Western Asset Variable Global High Yield Bond Portfolio |
II | 00000X000 | QLMYTX | [***] | ||||
@Western Asset Variable Money Market Portfolio |
Single | 00000X000 | LMVXX | [***] | ||||
Western Asset Variable Strategic Bond Portfolio |
I | 00000X000 | QLMTIX | [***] | ||||
ClearBridge Mid Cap Core Fund |
A | 00000X000 | SBMAX | [***] | ||||
ClearBridge Small Cap Growth Fund |
A | 00000X000 | SASMX | [***] | ||||
Western Asset Global High Yield Bond Fund |
A | 00000X000 | SAHYX | [***] | ||||
Western Asset Global Strategic Income Fund |
A | 00000X000 | SDSAX | [***] |
@: Currently unavailable for purchase. Please contact the distributor in advance to express sales interest or for more information, including when the share class/fund may be made available. The distributor will consider whether or not to make the requested share class/fund available for sale and may decline to do so in its sole discretion.
The applicable annual fee shown herein above shall be of the aggregate investments in the portfolios of the Fund by all separate accounts of Nationwide related to the Contracts and Policies as a percentage of the average daily net asset value of such investments.
Page 2 of 2
CERTAIN INFORMATION IN THIS EXHIBIT HAS BEEN REDACTED BECAUSE IT IS BOTH NOT MATERIAL AND WOULD BE COMPETITIVELY HARMFUL IF PUBLICLY DISCLOSED.
THIRD AMENDMENT TO
ADMINISTRATIVE SERVICES AGREEMENT
This Third Amendment to Administrative Services Agreement (“Amendment”) dated as of June 1, 2018, is entered into by and among Nationwide Financial Services, Inc., (“NFS”) and Xxxx Xxxxx Investor Services, LLC (the “Company”), collectively the “Parties”.
WHEREAS, the Parties entered into an Administrative Services Agreement dated July 11, 2008 (the “Agreement”), as amended;
WHEREAS, NFS and the Company desire to amend the Agreement.
NOW, THEREFORE, NFS and the Company agree to the following:
1. | Exhibit A is deleted in its entirety and replaced with the Exhibit A attached hereto. |
2. | Except as specifically set forth herein, all other provisions of the Agreement shall remain in full force and effect. |
IN WITNESS WHEREOF, the undersigned have executed this Amendment as of the date first written above.
NATIONWIDE FINANCIAL SERVICES, INC.
/s/ Xxxxxx X. Xxxxxx | ||
By: | Xxxxxx X. Xxxxxx |
Title: | VP, IMG External Funds Management Operations |
XXXX XXXXX INVESTOR SERVICES, LLC
/s/ illegible | ||
By: |
Title: |
Page 1 of 2
EXHIBIT A
TO ADMINISTRATIVE SERVICES AGREEMENT
The Administrative Services Agreement between Nationwide and the Company is applicable to the following portfolios of the Fund and all current and future funds available:
Portfolios Available Under the Contracts |
Class | CUSIP | Symbol | Service Fee | ||||
ClearBridge Variable Aggressive Growth Portfolio |
I | 00000X000 | QLMGOX | [***] | ||||
ClearBridge Variable Aggressive Growth Portfolio |
II | 00000X000 | QLMGTX | [***] | ||||
ClearBridge Variable Appreciation Portfolio |
I | 00000X000 | QLMAOX | [***] | ||||
ClearBridge Variable Appreciation Portfolio |
II | 00000X000 | TBD | [***] | ||||
ClearBridge Variable Dividend Strategy Portfolio |
I | 00000X000 | QLMEIX | [***] | ||||
ClearBridge Variable Dividend Strategy Portfolio |
II | 00000X000 | QLMETX | [***] | ||||
ClearBridge Variable Large Cap Growth Portfolio |
I | 00000X000 | QLMLOX | [***] | ||||
ClearBridge Variable Large Cap Growth Portfolio |
II | 00000X000 | TBD | [***] | ||||
ClearBridge Variable Large Cap Value Portfolio |
I | 00000X000 | QLMVIX | [***] | ||||
ClearBridge Variable Large Cap Value Portfolio |
II | 00000X000 | TBD | [***] | ||||
ClearBridge Variable Mid Cap Portfolio |
I | 00000X000 | QLMMIX | [***] | ||||
ClearBridge Variable Mid Cap Portfolio |
II | 00000X000 | QLMPTX | [***] | ||||
ClearBridge Variable Small Cap Growth Portfolio |
I | 00000X000 | QLMSIX | [***] | ||||
ClearBridge Variable Small Cap Growth Portfolio |
II | 00000X000 | QLMSTX | [***] | ||||
Western Asset Core Plus VIT Portfolio |
I | 00000X000 | QLMHIX | [***] | ||||
Western Asset Variable Global High Yield Bond Portfolio |
I | 00000X000 | QLMYIX | [***] | ||||
Western Asset Variable Global High Yield Bond Portfolio |
II | 00000X000 | QLMYTX | [***] | ||||
ClearBridge Mid Cap Fund |
A | 00000X000 | SBMAX | [***] | ||||
ClearBridge Small Cap Growth Fund |
A | 00000X000 | SASMX | [***] | ||||
Western Asset Global High Yield Bond Fund |
A | 00000X000 | SAHYX | [***] | ||||
Western Asset Income Fund |
A | 00000X000 | SDSAX | [***] |
The applicable annual fee shown herein above shall be of the aggregate investments in the portfolios of the Fund by all separate accounts of Nationwide related to the Contracts and Policies as a percentage of the average daily net asset value of such investments.
Page 2 of 2