Exhibit (h)(18)(h)
TWELFTH AMENDMENT
TO
PARTICIPATION AGREEMENT
AMONG
AMERICAN GENERAL LIFE INSURANCE COMPANY,
AMERICAN GENERAL EQUITY SERVICES CORPORATION
VALIC COMPANY I
AND
THE VARIABLE ANNUITY LIFE INSURANCE COMPANY
THIS TWELFTH AMENDMENT TO PARTICIPATION AGREEMENT ("Amendment") effective as
of ______________, amends the Participation Agreement dated as of February 26,
1998 (the "Agreement"), among AMERICAN GENERAL LIFE INSURANCE COMPANY (the
"Company"), on its own behalf and on behalf of each separate account of the
Company set forth on Schedule B of the Agreement (the "Account"), AMERICAN
GENERAL EQUITY SERVICES CORPORATION ("AGESC"), VALIC COMPANY I (the "Fund"),
and THE VARIABLE ANNUITY LIFE INSURANCE COMPANY (the "Adviser") (each, a
"Party" and collectively, the "Parties"). All capitalized terms not otherwise
defined in this Agreement shall have the same as ascribed in the Agreement.
WHEREAS, the Parties wish to amend the Agreement regarding administrative
reimbursements paid to the Company by the Adviser.
NOW, THEREFORE, in consideration of their mutual promises, the Parties agree
as follows:
1. CERTAIN ADMINISTRATIVE EXPENSES OF THE COMPANY. The Adviser will
reimburse the Company on a calendar quarterly basis, for certain of the
administrative costs and expenses incurred by the Company as a result of
operations necessitated by the beneficial ownership of shares of the
Portfolios of the Fund by owners of those Contracts which are subject to
such reimbursement as indicated on Schedule B hereto. Such reimbursement
shall be in an amount equal to ______ (__) basis points per annum of the
net assets of the Funds attributable to such contracts, except that the
reimbursement from the Money Market Fund shall be ______ (__) basis
points. The determination of applicable assets shall be made by
averaging assets in applicable Portfolios of the Fund as of the last
Business Day of each calendar month falling within the applicable
calendar quarter. In no event shall such fee be paid by the Fund, its
shareholders or by any Contract Owner.
IN WITNESS WHEREOF, each Party hereto has caused this Agreement to be
executed in its name and on its behalf by its duly authorized representative
hereto as of the date specified above.
AMERICAN GENERAL LIFE INSURANCE COMPANY, on behalf of itself and each of its
Accounts named in Schedule B hereto, as amended from time to time.
ATTEST:
By: By:
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Name: Name:
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Title: Title:
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AMERICAN GENERAL EQUITY SERVICES CORPORATION
ATTEST:
By: By:
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Name: Name:
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Title: Title:
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VALIC COMPANY I
ATTEST:
By: By:
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Name: Name:
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Title: Title:
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THE VARIABLE ANNUITY LIFE INSURANCE COMPANY
ATTEST:
By: By:
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Name: Name:
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Title: Title:
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