Amended and Restated Participation Agreement
Amendment No. 3 to
Amended and Restated Participation Agreement
Franklin Xxxxxxxxx Variable Insurance Products Trust
Franklin/Xxxxxxxxx Distributors, Inc.
Principal Life Insurance Company Principal National Life Insurance Company Princor Financial Services Corporation
Franklin Xxxxxxxxx Variable Insurance Products Trust (the "Trust"), Franklin/Xxxxxxxxx Distributors, Inc. (the "Underwriter," and together with the Trust, "we" or "us"), Principal Life Insurance Company (the "Company" or "you"), and Princor Financial Services Corporation, your distributor, on your behalf and on behalf of certain Accounts, have previously entered into an Amended and Restated Participation Agreement dated November 1, 2007, and subsequently amended September 10, 2009, and August 16, 2010 (the "Agreement"). The parties now desire to amend the Agreement by this amendment (the "Amendment"). Unless otherwise indicated, the terms defined in the Agreement shall have the same meaning in this Amendment.
AMENDMENT
For good and valuable consideration, the receipt of which is hereby acknowledged, the parties agree to amend the Agreement as follows:
1. | Principal National Life Insurance Company is hereby added as a party to the Agreement, consents to being added as a party to the Agreement and, as of the date of this Amendment is subject to all terms of the Agreement applicable to the Company. |
2. | "Company" or "you" means Principal Life Insurance Company and Principal National Life Insurance Company, as applicable. |
3. | Schedules A, B, C and G of the Agreement are deleted and replaced in their entirety with the Schedules A, B, C and G attached hereto, respectively. |
4. | All other terms and provisions of the Agreement not amended herein shall remain in full force and effect. |
IN WITNESS WHEREOF, each of the parties has caused its duly authorized officers to execute this Amendment effective as of November 1, 2011.
The Trust: | FRANKLIN XXXXXXXXX VARIABLE INSURANCE |
PRODUCTS TRUST | |
Only on behalf of | |
each Portfolio listed | By: /s/ Xxxxx X. Xxxxxxxx |
on Schedule C of | Name: Xxxxx X. Xxxxxxxx |
the Agreement | Title: Vice President |
The Underwriter: | FRANKLIN/XXXXXXXXX DISTRIBUTORS, INC. |
By: /s/ X. X. Xxxxxx | |
Name: Xxxxxx Xxxxxx | |
Title: Senior Vice President | |
The Company: | PRINCIPAL LIFE INSURANCE COMPANY |
By: /s/ Xxxx Xxxxxx | |
Name: Xxxx Xxxxxx | |
Title: Director - Product Management | |
PRINCIPAL NATIONAL LIFE INSURANCE COMPANY | |
By: /s/ Xxxx Xxxxxx | |
Name: Xxxx Xxxxxx | |
Title: Director - Product Management | |
The Distributor: | PRINCOR FINANCIAL SERVICES CORPORATION |
By: /s/ Xxxxx Xxxxxxxxxx | |
Name: Xxxxx Xxxxxxxxxx | |
Title: VP Broker Dealer - Operations | |
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Schedule A
The Company and its Distributor
THE COMPANY
Principal Life Insurance Company
Principal National Life Insurance Company
000 Xxxx Xxxxxx
Xxx Xxxxxx, XX 00000
Each an insurance company organized under the laws of the State of Iowa.
THE DISTRIBUTOR
Princor Financial Services Corporation
000 Xxxx Xxxxxx
Xxx Xxxxxx, XX 00000
A corporation organized under the laws of the State of Iowa.
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Schedule B
Accounts of the Company
Name of Account | SEC Registration |
Yes/No | |
Principal Life Insurance Company Separate Account B | Yes |
Principal Life Insurance Company Variable Life Separate Account | Yes |
Principal National Life Insurance Company Variable Life Separate Account | Yes |
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Schedule C
Available Portfolios and Classes of Shares of the Trust
1.Franklin Income Securities Fund- Class 2
2.Franklin Rising Dividends Securities Fund - Class 2
3.Franklin Small Cap Value Securities Fund - Class 2
4.Franklin Strategic Income Securities Fund- Class 2
5.Franklin U.S. Government Fund - Class 2
6.Mutual Global Discovery Securities Fund - Class 2
7.Mutual Shares Securities Fund- Class 2
8.Xxxxxxxxx Developing Markets Securities Fund- Class 2
9.Xxxxxxxxx Foreign Securities Fund- Class 2
10.Xxxxxxxxx Global Bond Securities Fund - Class 2
11.Xxxxxxxxx Growth Securities Fund- Class 2
In addition to the Portfolios and classes of shares listed above, any additional Portfolios and classes of shares other than Class 3 shares are included in this Schedule C listing provided that:
(1) | the General Counsel of Franklin Xxxxxxxxx Investments receives from a person authorized by you a written notice in the form attached (which may be electronic mail or sent by electronic mail) ("Notice") identifying this Agreement as provided in the Notice and specifying: (i) the names and classes of shares of additional Portfolios that you propose to offer as investment options of the Accounts under the Contracts; and (ii) the date that you propose to begin offering Separate Account interests investing in the additional Portfolios under the Contracts; and |
(2) | we do not within ten (10) Business Days following receipt of the Notice send you a writing (which may be electronic mail) objecting to your offering such Accounts investing in the additional Portfolios and classes of shares under the Contracts. |
Provided that we do not object as provided above, your Notice shall amend, supplement and become a part of this Schedule C and the Agreement.
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FORM OF NOTICE PURSUANT TO SCHEDULE C OF PARTICIPATION AGREEMENT
To: | General Counsel c/o |
Xxxxx Xxx (Xxxx@xxx.xxx) or Xxxxx Xxxxxxxx (xxxxxxx@xxx.xxx)
Fax: 000 000-0000
Franklin Xxxxxxxxx Investments
0 Xxxxxxxx Xxxxxxx
Xxxx. 000, 0xx Xxxxx
Xxx Xxxxx, XX 00000
With respect to the following agreement(s) (collectively, the "Agreement") (please reproduce and complete table for multiple agreements):
Date of Participation Agreement: | |
Insurance Company(ies): | |
Insurance Company Distributor(s): | |
As provided by Schedule C of the Agreement, this Notice proposes to Franklin Xxxxxxxxx Variable Insurance Products Trust, and Franklin/Xxxxxxxxx Distributors, Inc. the addition as of the offering date(s) listed below of the following Portfolios as additional investment options listed on Schedule C:
Names and Classes of Shares of Additional Portfolios Listing of current classes for your reference: Class 1 (no l2b-l fee); Class 2 (12b-l fee of 25 bps); or Class 4 (12b-1 fee of 35 bps). | Offering Date(s) |
Name and title of authorized person of insurance company:
Contact Information:
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Schedule G
Addresses for Notices
To the Company: | Principal Life Insurance Company Principal National Life Insurance Company 711 High Street Des Moines, IA 50392 Attention: Xxxxxxx Xxxxxxxxx, Counsel for Variable Insurance Products |
With a copy to: | Principal Life Insurance Company Principal National Life Insurance Company 711 High Street Des Moines, IA 50392 Attention: Xxxx Xxxxxx, Director Product Mgmt |
To the Distributor: | Princor Financial Services Corporation 711 High Street Des Moines, IA 50392 Attention: Xxxxxxx Xxxxxxxxx, Counsel |
To the Trust: | Franklin Xxxxxxxxx Variable Insurance Products Trust One Xxxxxxxx Xxxxxxx, Xxxx. 000 2nd Floor San Mateo, California 94403 Attention: Xxxxx X. Xxxxxxxx, Vice President |
To the Underwriter: | Franklin/Xxxxxxxxx Distributors, Inc. 100 Fountain Parkway, 140 7th Floor St. Petersburg, FL 33716 Attention: Xxxxx Xxxxx, President |
If to the Trust or Underwriter with a copy to: | Franklin Xxxxxxxxx Investments One Franklin Parkway, Xxxx. 000 0xx Xxxxx Xxx Xxxxx, Xxxxxxxxxx 00000 Xxxxxxxxx: General Counsel |
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