PURCHASE AGREEMENT
This agreement is made on the 4th day of March, 1983, between The
Prudential Insurance Company of America, a New Jersey corporation
("Prudential"), on its own behalf and on behalf of The Prudential Individual
Contract Account The Prudential Qualified Individual Variable Account ("Variable
Annuity Accounts"), and The Prudential Series Fund, Inc. a Maryland corporation
(the "Series Fund").
1. The Variable Annuity Accounts are accounts established and maintained by
Prudential under New Jersey law as separate investment accounts for the purpose
of holding and investing payments, made under variable annuity contracts
("Contracts") issued by Prudential, as provided in such Contracts. Such amounts
will be held in one or more of five subaccounts of either of the Variable
Annuity Accounts, as directed by the respective contractholders. The Variable
Annuity Accounts are registered as unit investment trusts under the Investment
Company Act of 1940.
2. The Series Fund is registered as an open-end management company
organized as a series fund under the Investment Company Act of 1940. The Series
Fund will be comprised initially of five Portfolios: a Money Market Portfolio, a
Common Stock Portfolio, a Bond Portfolio, a Conservatively Managed Flexible
Portfolio, and an Aggressively Managed Flexible Portfolio.
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3. Prudential will invest the assets held in each subaccount of the
Variable Annuity Accounts in shares of the corresponding Portfolio described
above.
NOW, THEREFORE, Prudential and the Series Fund hereby agree as follows:
1. The Series Fund agrees to sell shares in each of its Portfolios to the
corresponding subaccount of each of the Variable Annuity Accounts at net asset
value. Orders for such shares shall be made by wire, hand delivery of written
orders or telephone directed to the transfer agent designated by the Series
Fund. Payment for such shares shall be made by wire transfer of federal funds to
the Custodian designated by the Series Fund within five business days after the
placing of the corresponding orders.
2. Redemption of Series Fund shares shall be requested by wire, hand
delivery of written requests or telephone directed to the said transfer agent
and payment therefore shall be made by wire transfer of federal funds within
five business days after the request for redemption is received.
3. On each day in which the net asset value of the shares of any Portfolio
in the Series Fund is Determined, the Series Fund shall provide Prudential with
the net asset value of such shares by 5:30 p.m. New York City time or at such
later time as shall be agreed to by the parties.
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4. This Agreement shall remain in effect until terminated by the mutual
written consent of the parties hereto.
THE PRUDENTIAL INSURANCE COMPANY OF AMERICA
BY /s/ Xxxx X. Xxxxxx
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Xxxx X. Xxxxxx
Senior Vice President
THE PRUDENTIAL SERIES FUND, INC.
BY /s/ Xxxxxx X. Xxxx
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Xxxxxx X. Xxxx
President
