Ex-99.23(h)(38)
CONTRACT OWNER INFORMATION AGREEMENT
JNL SERIES TRUST
JNL VARIABLE FUND LLC
This Contract Owner Information Agreement ("Agreement") is made, as of the
date indicated on the signature page of this Agreement, by and among the JNL
Series Trust and the JNL Variable Fund LLC ("collectively referred to as
"Funds," "we" or "us", as more fully defined below) and Xxxxxxx National Life
Insurance Company ("JNL"), and the Separate Accounts ("Accounts") sponsored JNL,
identified on the signature page of this Agreement (JNL, together with the
Accounts, being referred to as "you").
WHEREAS, JNL offers variable contracts to the retail public, and such
variable contracts are sold through affiliated and unaffiliated broker-dealers
and insurance agencies;
WHEREAS, the Funds are investment companies registered with the U.S.
Securities and Exchange Commission ("SEC") pursuant to the Investment Company
Act of 1940, as amended ("1940 Act"), and the Funds' shares are registered under
the Securities Act of 1933, as amended ("1933 Act");
WHEREAS, the Accounts are investment companies registered with the SEC
pursuant to the 1933 Act and the 1940 Act;
WHEREAS, the Funds desire to delegate to JNL the performance of certain
functions related to the monitoring of frequent trading, and JNL desires to
accept such delegation and provide the Funds with the services described in this
Agreement;
WHEREAS, Fund Shares are sold to certain "Qualified Retirement Plans,"
through an unregistered separate account and the Accounts of JNL and Xxxxxxx
National Life Insurance Company of New York that comprise the variable
contracts;
WHEREAS, the unregistered separate account (Qualified Retirement Plan) and
the Accounts are the Funds' shareholders, and due to the structure of such
Qualified Retirement Plans and variable contracts, the Funds generally do not
have access to individual Qualified Retirement Plan participant and individual
Contract Owner trading information; and
WHEREAS, JNL has access to individual Qualified Retirement Plan participant
and Contract Owner trading information.
NOW THEREFORE, this Agreement is entered into by you and by us pursuant to
the requirements of Rule 22c-2 ("Rule") under the 1940 Act. As required by the
Rule, the provisions of this Agreement are intended to recoup the costs it may
incur as a result of those redemptions or eliminate or reduce so far as
practicable any dilution of the value of the outstanding securities issued by
the Fund.
1. CONTRACT OWNER INFORMATION
1.1 Agreement to Provide Information. You agree to provide us promptly upon
written request, a "Report" (see Exhibit A attached hereto for the variable
contracts and Exhibit B attached hereto for the Qualified Retirement Plan)
containing the following information: (i) the "Tax Identification Number" and
the number that specifically identifies each variable insurance contract
("Contract Number") of any or all Contract Owners (as defined below) that invest
in an Account that invests in a Fund or other identifying information for the
Qualified Retirement Plan; (ii) the name or other identifier of any investment
professional(s) associated with the Contract Owner(s) (if known), (iii) the
transaction type (purchase, redemption, transfer, or exchange) of every
purchase, redemption, transfer, or exchange of Interests (as defined below) held
by a Contract Owner during the period covered by the request, including
amount(s) and date(s) of the transactions; and (iv) a discussion of the
resolution or actions taken on behalf of the Accounts and Funds.
1.1.1 Period Covered by Report. Reports (Requests) must set forth a
specific period. We may request transaction information older than the period
covered by the Report as we deem necessary to investigate compliance with
policies established by us for the purpose of eliminating or reducing any
dilution of the value of Fund Shares (as defined below).
1.1.2 Form and Timing of Response (Delivery of the Report). You agree to
transmit the requested information that is on your books and records to us
promptly, but in any event not later than five (5) business days, after receipt
of a request. If the requested information is not on your books and records, you
agree to: (i) provide or arrange to provide to us the requested information
concerning Contract Owners who hold Interests related to Fund Shares through an
indirect intermediary; or (ii) if directed by us, block further purchases of
Interests from such indirect intermediary. In such instance, you agree to inform
us whether you plan to perform (i) or (ii). Responses required by this paragraph
must be communicated in writing and in a format mutually agreed upon by the
parties. To the extent practicable, any transaction information provided to us,
the Report as described in Section 1.1 herein, shall be delivered to us in the
format as set forth in Exhibit A attached hereto. For purposes of this
provision, "indirect intermediary" has the same meaning as in the Rule.
1.1.3 Report Review. We shall review the Report(s) and determine whether
the resolution of the matter, and the information contained in the Report, is
sufficient. We may instruct you to execute other instructions (see Section 1.2
herein).
1.1.4 Limitations on Use of Information. We agree not to use the
information received for marketing or any other similar purpose without prior
written consent by you.
1.1.5 Warranty. You represent and warrant that you and the Accounts have
policies and procedures in place that are in compliance with the obligations of
the Accounts that are registered investment companies to monitor for, prevent
and detect excessive and/or short term trading activity. In addition, you
represent and warranty to us that JNL has established policies and procedures to
monitor for frequent trading.
1.2 Agreement to Restrict Trading. You agree to execute written
instructions from us to restrict or prohibit further purchases or exchanges of
Interests related to Fund Shares by a Contract Owner that has been identified by
us as having engaged in transactions of Interests related to Fund Shares that
result in the violation of policies established by us for the purpose of
eliminating or reducing any dilution of the value of Fund Shares.
1.2.1 Form of Instructions. Instructions must include the Contract Number,
if known and provided by you in response to a request for information pursuant
to Section 1.1, and the specific restriction(s) to be executed. If the Contract
Number is not known, the instructions must include an equivalent identifying
number of the Contract Owner(s), other identifying information you provided, or
other agreed upon information to which the instruction relates.
1.2.2 Timing of Response. You agree to execute instructions as soon as
reasonably practicable, but not later than five (5) business days after receipt
of the instructions by you.
1.2.3 Confirmation by You. You must provide written confirmation to us that
instructions have been executed. You agree to provide confirmation as soon as
reasonably practicable, but not later than ten (10) business days after the
instructions have been executed.
1.3 Definitions. For purposes of this paragraph:
1.3.1 The term "Fund" means any and all series of the JNL Series Trust and
the JNL Variable Fund LLC except for any such series that constitute "excepted
funds" as defined in the Rule.
1.3.2 The term "Interests" means the interests of Contract Owners in
Accounts that correspond to the redeemable securities of record issued by a Fund
under the 1940 Act that are held by an Insurance Company or an Account.
1.3.3 The term "Contract Owner" means the holder of interests in a variable
annuity or variable life insurance contract issued by you.
1.3.4 The term "written" includes electronic writings and facsimile
transmissions.
1.3.5 The term "Fund Shares" means the outstanding shares issued by a Fund.
1.3.6 The term "us" shall include as the context requires with respect to
the activities described in Sections 1.1. and 1.2 , including, without
limitation, receipt of information, the transmittal of requests, transmittal of
Reports, and instructions and confirmations our designee, who shall for all such
purposes under this Agreement be Xxxxxxx National Asset Management, LLC.
IN WITNESS WHEREOF, this Agreement has been executed by a duly authorized
representative of each party hereto as of _____________, 2006.
JNL SERIES TRUST XXXXXXX NATIONAL LIFE INSURANCE COMPANY
JNL VARIABLE FUND LLC (AND THE XXXXXXX NATIONAL SEPARATE
ACCOUNTS I, II, III, IV AND V)
By:________________________________ By:____________________________________
Name: _____________________________ Name: _________________________________
Title:_____________________________ Title: ______________________________
EXHIBIT A
SAMPLE REPORT
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Contract (Policy) Number:
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Tax Identification Number:
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Agent (Broker):
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Date:
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Time Period Covered by Report:
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Rolling 1 Year Trades:
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Rolling 1 Month Trades:
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Rolling 7 Day Trades:
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Reallocations (Trades made via Phone or Fax)
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Ending Value (Date) $
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Initial Value (Date) $
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Trade Dates and Funds Transactions Amounts
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Number of Times Funds Affected
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Fund
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Fund
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Fund
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Resolution
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Notes
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EXHIBIT B
SAMPLE REPORT
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Separate Account Report Date:
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Participant Name Fund Trade Date Transaction Type Cash Amount
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Resolution
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