ADDENDUM TO THE PARTICIPATION AGREEMENT
DATED AS OF APRIL 27, 1995
BETWEEN
XXXXXXX VARIABLE SERIES, INC. (FORMERLY, ACACIA CAPITAL CORPORATION),
XXXXXXX ASSET MANAGEMENT COMPANY, INC.
AND
NEW YORK LIFE INSURANCE AND ANNUITY CORPORATION
Notwithstanding anything to the contrary contained in the above cited
Participation Agreement ("Agreement") between Xxxxxxx Variable Series, Inc.
(formerly, Acacia Capital Corporation) ("Fund"), Xxxxxxx Asset Management
Company, Inc. ("Adviser") and New York Life Insurance and Annuity Corporation
("Company"), the Fund, the Adviser and the Company hereby agree that the
Agreement is amended to read as follows:
Section 5.1 of the Agreement is deleted and replaced by the following:
5.1 The Fund and Adviser shall pay no fee or other compensation to the
Company under this Agreement, except as set forth in this Section 5.1.
a. If the Fund or any Portfolio adopts and implements a plan pursuant
to Rule 12b-1 to finance distribution expenses, then the Adviser may
make payments to the Company or to the underwriter for the Contracts
if and in amounts agreed to by the Adviser in writing and such
payments will be made out of existing fees otherwise payable to the
Adviser, past profits of the Adviser or other resources available to
the Adviser, or by the Fund, to the extent permitted. Currently, no
such payments are contemplated.
b. The Adviser will pay the Company on a quarterly basis a percentage
of average quarterly assets in each Portfolio listed on Schedule B
which is attached hereto. If the assets in the Portfolio are less than
$75 million, the annualized percentage will be .__; and if the assets
in the Portfolio are $75 million or more, the annualized percentage
will be .__.
IN WITNESS WHEREOF, the Fund, the Adviser and the Company have caused this
Addendum to be executed as of June 30, 1999 and thereby made an integral part
of the Agreement.
XXXXXXX VARIABLE SERIES, INC. XXXXXXX ASSET MANAGEMENT
COMPANY INC.
By: /s/ Xxxxxxx X. Xxxxxxxxx By: /s/ Xxxxxxx X. Xxxxxxxxx
------------------------- -------------------------
Name: Xxxxxxx X. Xxxxxxxxx Name: Xxxxxxx X. Xxxxxxxxx
Title: Senior Vice President Title: Senior Vice President
NEW YORK LIFE INSURANCE
AND ANNUITY CORPORATION
By: /s/ Xxxxxx X. Rock
-------------------------
Name: Xxxxxx Xxxx
Title: Senior Vice President
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