Amendment No. 6 to Administrative Services Agreement
Amendment No. 6 to
Franklin Xxxxxxxxx Services, LLC
Principal Life Insurance Company
Principal National Life Insurance Company
THIS AMENDMENT is made by and between Franklin Xxxxxxxxx Services, .LLC (the ''Fund Administrator"), Principal Life Insurance Company and Principal National Life Insurance Company (collectively, the "Company").
WHEREAS, the Company and the Fund Administrator have entered into an Administrative Services Agreement, dated as of December 14, 2007, as may be amended from time to time (the "Agreement"), concerning certain administrative services with respect to each series ("Fund" or "Funds") of Franklin Xxxxxxxxx Variable Insurance Products Trust (the "Trust") listed on Schedule B of the Agreement;
WHEREAS, the Company and the Fund Administrator wish to amend the Agreement for the purpose of updating schedule and portfolios of variable life and annuity contracts covered by the Agreement.
NOW, THEREFORE, in · consideration of past and prospective business relations, the Fund Administrator and the Company hereby amend the Agreement as follows:
1.Schedule B of the Agreement is hereby deleted in its entirety and replaced with the Schedule B attached hereto.
2.All other terms and provisions of the Agreement not amended herein shall remain in full force and effect.
This amendment is executed as of August 30, 2016.
Fund Administrator: | FRANKLIN XXXXXXXXX SERVICES, LLC | |||
By: | /s/ Xxxxx Xxxxxxxxx | |||
Name: | Xxxxx Xxxxxxxxx | |||
Title: | Senior Vice President | |||
The Company: | PRINCIPAL LIFE INSURANCE COMPANY | |||
PRINCIPAL NATIONAL LIFE INSURANCE COMPANY | ||||
By: | /s/ Xxxx X. Xxxxx | |||
Name: | Xxxx X. Xxxxx | |||
Title: | Asst. Dir. -- Product Management |
Schedule B Administrative Expense Payment
With respect to each Contract listed below underneath the column titled "Product Name/Registration No.", the Fund Administrator agrees to pay the corresponding Company a fee, computed daily and paid quarterly in arrears, equal to an annual rate as set forth below, applied to the average daily net assets of the shares of the Funds held in the subaccounts of the Accounts. The payment will be computed and paid in the manner described more completely in the Agreement.
# | Company Name | Separate Account/ Registration Yes/No. | Class/Funds of the Trust | Fee Rate | Date of beginning of period for computation of fee |
1. | Principal Life Insurance Company | Principal Life Insurance Company Separate Account B Yes | Class 2 Shares: Franklin Small Cap Value VIP Fund | 0.10% | 11/01/09 |
Class 2 Shares: Franklin Global Real Estate VIP Fund Class 4 Shares: Franklin Rising Dividends VIP Fund Xxxxxxxxx Global Bond VIP Fund | 0.10% | 10/01/14 | |||
2. | Principal Life Insurance Company | Principal Life Insurance Company Variable Life Separate Account Yes | Class 2 Shares: Franklin Income VIP Fund Franklin Mutual Global Discovery VIP Fund Franklin Mutual Shares VIP Fund Franklin Rising Dividends VIP Fund Franklin Small Cap Value VIP Fund Franklin Strategic Income VIP Fund Templeton Developing Markets VIP Fund Templeton Foreign VIP Fund Templeton Global Bond VIP Fund Templeton Growth VIP Fund | 0.10% | 11/01/07 |
Class 2 Shares: Franklin U,S. Government Securities VIP Fund | 0.10% | 11/01/09 | |||
3. | Principal National Life Insurance Company | Principal National Life Insurance Company Variable Life Separate Account Yes | Class 2 Shares: Franklin Rising Dividends VIP Fund Franklin Small Cap Value VIP Fund Xxxxxxxxx Global Bond VIP Fund Franklin Mutual Global Discovery VIP Fund | 0.10% | 02/01/15 |