VAN ECK SECURITIES CORPORATION, PRINCIPAL LIFE INSURANCE COMPANY, PRINCIPAL NATIONAL LIFE INSURANCE COMPANY AND PRINCOR FINANCIAL SERVICES CORPORATION
FIFTH AMENDMENT TO THE SERVICE AGREEMENT AMONG
XXX XXX SECURITIES CORPORATION, PRINCIPAL LIFE INSURANCE COMPANY, PRINCIPAL NATIONAL LIFE INSURANCE COMPANY AND PRINCOR FINANCIAL SERVICES CORPORATION
For good and valuable consideration, the receipt of which is hereby acknowledged, the parties agree to amend the Service Agreement dated November 28, 2007, as amended ("the Agreement"), among Xxx Xxx Securities Corporation, Principal Life Insurance Company, Principal National Life Insurance Company and Princor Financial Services Corporation as follows:
1. | The first sentence of Section 3 is hereby deleted and replaced with the following: "In consideration for the services to be provided by Company to the Contract owners pursuant to this Agreement, the Distributor will calculate and pay, or cause one or more of the Distributor's affiliates to pay, and Company will be entitled to receive a fee at annualized rate as stated in Exhibit A of the average aggregate amount invested in the Funds under the Contracts issued by the Variable Accounts for the applicable period." |
2. | Section 11 is hereby amended by deleting the text following "If to the Distributor" and replacing it with the below: |
Van Eck Securities Corporation 000 Xxxxx Xxxxxx, 0xx Xxxxx Xxx Xxxx, Xxx Xxxx 00000 Attn: General Counsel
With electronic mail copy to: xxxxxxxxxxxx@xxxxxx.xxx
3. | Exhibit A is hereby deleted in its entirety and replaced with Exhibit A attached hereto. |
4. | "Principal Pivot Variable Annuity III" is hereby added to the list of Variable Annuity Contracts in Section 2 of Exhibit B. |
All other terms of the Agreement shall remain in full force and effect.
[Signature page follows]
IN WITNESS WHEREOF, each of the parties hereto has caused xx.xx Amendment to be executed in its name and on its behalf by its duly authorized representative as of this date, May 1, 2018.
PRINCIPAL LIFE INSURANCE COMPANY | |
By: /s/ Xxxx Xxxxxx | |
Name: Xxxx Xxxxxx | |
Title: Senior Vice President - Annuities | |
PRINCIPAL NATIONALAL LIFE INSURANCE COMPANY | |
By: /s/ Xxxx X. Xxxxx | |
Name: Xxxx X. Xxxxx | |
Title: Assistant Director Product Management | |
PRINCOR FINANCIAL SERVICES CORPORATION | |
By: /s/ Xxxxx Xxxxxxxxxx | |
Name: Xxxxx Xxxxxxxxxx | |
Title: Vice President Broker Dealer Operations | |
XXX XXX SECURITIES CORPORATION | |
By: /s/ Xxxxx X. Xxxxx | |
Name: Xxxxx X. Xxxxx | |
Title: Senior Vice President | |
EXHIBIT A
Name of Fund-Class | Revenue Sharing Fee | 12b-1 Fee |
VanEck VIP Global Hard Assets Fund - Initial Class | 25 bps | none |
VanEck VIP Global Hard Assets Fund - Class S | 15 bps | 25 bps |
