AMENDMENT NO. 6 TO PARTICIPATION AGREEMENT
EXHIBIT (8)(v)
AMENDMENT NO. 6 TO PARTICIPATION AGREEMENT
THIS AMENDMENT NO. 6 TO PARTICIPATION AGREEMENT (the “Amendment”), dated as of September 4,
2014, by and among THE UNITED STATES LIFE INSURANCE COMPANY IN THE CITY OF NEW YORK (the
“Company”), on its own behalf and on behalf of each of the separate accounts of the Company
identified in the Agreement (as defined below), AIG CAPITAL SERVICES, INC. (formerly known as
SunAmerica Capital Services, Inc. (as successor-in-interest to American General Equity Services
Corporation)) (“ACS”), XXXXXX XXXXXXX DISTRIBUTION, INC. (as successor-in-interest to Xxx Xxxxxx
Funds, Inc.) (“MSDI”), THE UNIVERSAL INSTITUTIONAL FUNDS, INC. (the “Fund”) and XXXXXX XXXXXXX
INVESTMENT MANAGEMENT INC. (the “Adviser”), hereby amends the Participation Agreement, dated as of
December 1, 1998, by and among the Company, SACS, MSDI, the Fund and the Adviser (the “Agreement”).
Capitalized terms used but not defined herein shall have the meanings ascribed to them in the
Agreement.
WHEREAS, pursuant to the Agreement, Company purchases shares of the Portfolios set forth on
Schedule A of the Agreement on behalf of each Account set forth on Schedule B of the Agreement in
order to fund the Variable Insurance Products; and
WHEREAS, the parties desire to update the Accounts covered and the Portfolios available under
the Agreement; and
WHEREAS, the parties desire to update their addresses for notices.
NOW, THEREFORE, in consideration of their mutual promises, the Company, SACS, the Fund, MSDI
and the Adviser agree as follows:
1. | Updates to Schedule A. Schedule A of the Agreement is hereby deleted in its entirety and replaced with the Schedule A attached hereto. |
2. | Updates to Schedule B. Schedule B of the Agreement is hereby deleted in its entirety and replaced with the Schedule B attached hereto. |
3. | Updates to Addresses. The addresses given in Article XI of the Agreement are hereby deleted, in their entirety, and replaced with the following: |
If to the Fund or the Adviser:
The Universal Institutional Funds, Inc.
000 Xxxxx Xxxxxx, 0xx Xxxxx
Xxx Xxxx, XX 00000
Attn: Xxxxxxxxx Xxxxxx, Client Service Department
With a copy to:
Xxxxxx Xxxxxxx Distribution, Inc.
000 Xxxxx Xxxxxx, 0xx Xxxxx
Xxx Xxxx, XX 00000
Attn: Xxxx Xxxxxxxx, Global Distribution/Legal
000 Xxxxx Xxxxxx, 0xx Xxxxx
Xxx Xxxx, XX 00000
Attn: Xxxxxxxxx Xxxxxx, Client Service Department
With a copy to:
Xxxxxx Xxxxxxx Distribution, Inc.
000 Xxxxx Xxxxxx, 0xx Xxxxx
Xxx Xxxx, XX 00000
Attn: Xxxx Xxxxxxxx, Global Distribution/Legal
If to MSDI:
Xxxxxx Xxxxxxx Distribution, Inc.
000 Xxxxx Xxxxxx, 0xx Xxxxx
Xxx Xxxx, XX 00000
Attn: Xxxxxxx Xxxxxxxxxx, Managing Director
000 Xxxxx Xxxxxx, 0xx Xxxxx
Xxx Xxxx, XX 00000
Attn: Xxxxxxx Xxxxxxxxxx, Managing Director
With a copy to:
Xxxxxx Xxxxxxx Distribution, Inc.
000 Xxxxx Xxxxxx, 0xx Xxxxx
Xxx Xxxx, XX 00000
Attn: Xxxx Xxxxxxxx, Global Distribution/Legal
Xxxxxx Xxxxxxx Distribution, Inc.
000 Xxxxx Xxxxxx, 0xx Xxxxx
Xxx Xxxx, XX 00000
Attn: Xxxx Xxxxxxxx, Global Distribution/Legal
If to Company:
The United States Life Insurance Company
in the City of New York
0000 Xxxxx Xxxxxxx, 0xx Xxxxx
Xxxxxxx, Xxxxx 00000
Attn.: General Counsel
in the City of New York
0000 Xxxxx Xxxxxxx, 0xx Xxxxx
Xxxxxxx, Xxxxx 00000
Attn.: General Counsel
If to ACS:
AIG Capital Services, Inc.
Harborside Financial Center, 0000 Xxxxx 0
Xxxxxx Xxxx, Xxx Xxxxxx 00000-0000
Attn: General Counsel
Harborside Financial Center, 0000 Xxxxx 0
Xxxxxx Xxxx, Xxx Xxxxxx 00000-0000
Attn: General Counsel
4. | Update to Section 2.3. Section 2.3 of the Agreement is hereby deleted in its entirety and replaced with the following: |
2.3 The Fund and the Adviser represent that: (i) the Fund is
currently qualified and will continue to qualify as a Regulated Investment
Company under Subchapter M of the Internal Revenue Code of 1986, as
amended (the “Code”) and that the Fund and Adviser will make every effort
to maintain such qualification (under Subchapter M or any successor or
similar provision) and that the Fund or Adviser shall promptly notify
Company upon having a reasonable basis for believing that any of the
Portfolios has ceased to so qualify, or that they may not qualify as such
in the future; (ii) each of the Portfolios currently does and will
continue to invest, dispose of, and hold assets in compliance with the
requirements of Section 817(h) of the Code and Treasury Regulations
Section 1.817-5 and any amendments or other modifications of successor
provisions to such Section or Regulations, including, but not limited to,
the diversification requirement therein (the “Tax Diversification
Requirements”) (without limiting the foregoing, the Adviser will notify
Company promptly after forming a reasonable belief that a Portfolio has
ceased to comply with the Tax Diversification Requirements or might not so
comply in the future, and the Adviser shall cure any non-conformance
within the period for cure afforded under Treasury Regulation Section
1.817-5); and (iv) the Adviser shall not take any action which would
impact the treatment of the Contracts as annuities under Section 72 of the
Code.
4. | Addition of Article XIV. The following is hereby added to the Agreement as Article XIV. |
ARTICLE XIV. Confidentiality
14.1. Confidential Information. The parties acknowledge
that, in the performance of the Agreement, they may receive or have access
to information about customers and other proprietary information of the
other parties, including names, addresses, account balances, account
numbers, account activity, social security numbers, taxpayer
identification numbers, and financial information, as well as all forms
and types of financial, business, technical, or economic information,
whether tangible or intangible, and whether or how stored, compiled, or
memorialized physically, electronically, graphically, photographically, or
in writing (“Confidential Information”). Confidential Information excludes
information that (1) is independently developed by a party without
violating the disclosing party’s proprietary rights, (2) is or becomes
publicly known (other than through unauthorized disclosure), (3) is
intentionally disclosed by the owner of such information to a third party
free of any obligation of confidentiality, (4) is already known by a
party, as evidenced by the written records of that party, free of an
obligation of confidentiality other than pursuant to this Agreement, or
(5) is rightfully received by a party free of any obligation of
confidentiality.
14.2. Use. The parties may use Confidential Information
only in connection with this Agreement and may not disclose Confidential
Information to any other party except as permitted by the
Xxxxx-Xxxxx-Xxxxxx Act, other applicable federal and state laws and
regulations regarding privacy, this Agreement or as otherwise agreed to in
writing by the parties hereto. The parties may disclose Confidential
Information to their respective employees and agents or to third party
vendors (1) who are involved in the issuance, administration or
maintenance of a customer’s account or (2) otherwise on a need-to-know
basis, provided that, in each case, they have first adequately apprised
any such employee, agent, and or third party vender to observe this
confidentiality. In the case of employees and/or agents, the party shall
provide adequate training to ensure this confidentiality. The parties
will take reasonable steps to protect the Confidential Information,
applying at least the same security measures and level of care as they
employ to protect their own Confidential Information. If a party is
compelled by applicable law to disclose any Confidential Information, the
party so compelled must promptly notify, in writing, the party whose
Confidential Information is being disclosed before disclosing such
Confidential Information so that such other party is afforded the
opportunity to seek relief from such disclosure or to limit the scope of
the disclosure.
14.3. Security. Each party shall comply with all federal,
state, and local law or regulation related to privacy, including
Regulation S-P of the SEC and Title V of the Xxxxx-Xxxxx-Xxxxxx Act.
Broker/Dealer shall notify Distributor and Insurer promptly upon any
breach of Confidential Information. Each party shall maintain an
effective
information security program to protect the Confidential
Information, which program includes administrative, technical, and
physical safeguards:
(a) | to insure the security and confidentiality of Confidential Information; | ||
(b) | to protect against any anticipated threats or hazards to the security or integrity of such Confidential Information; and | ||
(c) | to protect against unauthorized access to or use of Confidential Information which could result in substantial harm or inconvenience to either party or other affiliates, or to customers of any of them. |
14.4. Injunctive Relief. The parties acknowledge that the unauthorized
disclosure of Confidential Information is likely to cause irreparable injury to the
disclosing party and that, in the event of a violation or threatened violation of a
party’s obligations hereunder, the disclosing party shall have no adequate remedy at
law and shall therefore be entitled to enforce each such obligation by temporary or
permanent injunctive or mandatory relief obtained in any court of competent
jurisdiction without the necessity of proving damages, posting any bond or other
security, and without prejudice to any other rights and remedies which may be available
at law or in equity.
14.5. Information Received in Error. If Confidential Information, which
is not necessary for the purposes of this Agreement, is received by one party from the
other party in error, the other party shall promptly return the original and destroy
all copies of the same and/or destroy or certify in writing to the requesting party
that the Confidential Information has been destroyed.
14.6. Use Upon Termination. At the termination of this Agreement, or in
the event a party makes a request for the return of their Confidential Information, the
other parties will promptly return the original and all copies of same, or certify in
writing to the requesting party that the Confidential Information has been destroyed,
provided however, that each party shall retain Confidential Information in its
possession necessary to service its customers. This Confidentiality provision shall
survive the termination of this Agreement.
5. | Except as expressly supplemented, amended or consented to hereby, all the representations, warranties, covenants, terms and provisions of the Agreement shall remain in full force and effect. |
[signature page follows]
IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be executed on their
behalf by duly authorized officers and such Amendment shall become effective as of the date first
above written.
THE UNITED STATES LIFE INSURANCE COMPANY IN THE CITY OF NEW YORK | AIG CAPITAL SERVICES, INC. | |||||||
By:
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By: | |||||||
Name: Xxxxxx X. Xxxxxxxxxxx | Name: Xxxx Xxxxxxxx | |||||||
Title: Executive Vice President, Individual and Group Retirement | Title: Distribution Officer | |||||||
ATTEST: | ATTEST: | |||||||
By:
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By: | |||||||
Name:
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Name: | |||||||
Title:
|
Title: | |||||||
THE UNIVERSAL INSTITUTIONAL FUNDS, INC. | XXXXXX XXXXXXX INVESTMENT MANAGEMENT INC. | |||||||
By:
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By: | |||||||
Name: Xxxx X. Xxxxxx | Name: Xxxxxxx Xxxxxxxxxx | |||||||
Title: President & Principal Executive Officer | Title: Managing Director | |||||||
XXXXXX XXXXXXX DISTRIBUTION, INC. | ||||||||
By: |
||||||||
Name: Xxxxxxx Xxxxxxxxxx | ||||||||
Title: Managing Director |
SCHEDULE A
PORTFOLIOS OF THE UNIVERSAL INSTITUTIONAL FUNDS, INC.
AVAILABLE FOR PURCHASE BY
AMERICAN GENERAL LIFE INSURANCE COMPANY
UNDER THIS AGREEMENT
AVAILABLE FOR PURCHASE BY
AMERICAN GENERAL LIFE INSURANCE COMPANY
UNDER THIS AGREEMENT
UIF Core Plus Fixed Income Portfolio — Class I Shares
UIF Emerging Markets Equity Portfolio — Class I Shares
UIF Global Infrastructure Portfolio — Class II Shares
UIF Global Tactical Asset Allocation Portfolio (formerly International Magnum) — Class I Shares
UIF Growth Portfolio (formerly Equity Growth) — Class I Shares
UIF U.S. Real Estate Portfolio — Class I Shares
SCHEDULE B
SEPARATE ACCOUNTS AND CONTRACTS
(as of September 4, 2014)
(as of September 4, 2014)
Name of Separate Account and | Form Numbers and Names of | |
Date Established by Board of Directors | Contracts Funded by Separate Account | |
The United States Life Insurance Company
in the City of New York Separate Account USL VA-R Established: August 8, 1997 |
Contract Form Numbers: 98033N and 98034N Name of Contract: Generations Combinations Fixed and Variable Deferred Annuity Contract |
|
Contract Form Numbers: 03017N Name of Contract: Platinum Investor Immediate Variable Annuity Contracts |
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The United States Life Insurance Company
in the City of New York Separate Account USL VL-R Established: August 8, 1997 |
Contract Form Numbers: 97600N Name of Contract: Platinum Investor Flexible Premium Variable Life Insurance Policies |
|
Contract Form Numbers: 99206N Name of Contract: Platinum Investor Survivor Flexible Premium Variable Life Insurance Policies |
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Contract Form Numbers: 02600N Name of Contract: Platinum Investor PLUS Flexible Premium Variable Life Insurance Policies |
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Contract Form Numbers: 01206N Name of Contract: Platinum Investor Survivor II Last Survivor Flexible Premium Variable Life Insurance Policies |
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The United States Life Insurance Company
in the City of New York FS Variable Separate Account Established: September 9, 1994 |
Contract Form Numbers: US-802 (5/14) Name of Contract: Polaris Select Investor Variable Annuity |