PARTICIPATION AGREEMENT
AMONG
LINCOLN LIFE & ANNUITY COMPANY OF NEW YORK,
LINCOLN FINANCIAL ADVISORS CORPORATION,
ALLIANCE CAPITAL MANAGEMENT L.P.
AND
ALLIANCE FUND DISTRIBUTORS, INC.
DATED AS OF
MAY 1, 2000
PARTICIPATION AGREEMENT
THIS AGREEMENT, made and entered into as of the 1st day of May, 2000
("Agreement"), by and among Lincoln Life & Annuity Company of New York, a New
York life insurance company ("Insurer") (on behalf of itself and its "Separate
Account," defined below). Lincoln Financial Advisors Corporation, an Indiana
corporation ("Contracts Distributor"), the principal underwriter with respect to
the Contracts referred to below; Alliance Capital Management L.P., a Delaware
limited partnership ("Adviser"), the investment adviser of the Fund referred to
below; and Alliance Fund Distributors, Inc., a Delaware corporation
("Distributor"), the Fund's principal underwriter (collectively, the "Parties"),
WITNESSETH THAT:
WHEREAS Insurer, the Distributor, and Alliance Variable Products Series
Fund, Inc. (the "Fund") desire that Class B shares of the Fund's Portfolios
listed in Schedule A, as may be amended from time to time (the "Portfolios";
reference herein to the "Fund" includes reference to each Portfolio to the
extent the context requires) be made available by Distributor to serve as
underlying investment media for variable annuity contracts and variable life
insurance policies issued by Insurer listed in Schedule B, as may be amended
from time to time to be offered through Contracts Distributor; and
WHEREAS the Contracts provide for the allocation of net amounts
received by Insurer to separate series (the "Subaccounts"; reference herein to
the "Separate Account" includes reference to each Subaccount to the extent the
context requires) of the Separate Account for investment in Class B shares of
corresponding Portfolios of the Fund that are made available through the
Separate Account to act as underlying investment media,
1
NOW, THEREFORE, in consideration of the mutual benefits and promises
contained herein, the Fund and Distributor will make Class B shares of the
Portfolios available to Insurer for this purpose at net asset value and with no
sales charges, all subject to the following provisions:
SECTION 1. ADDITIONAL PORTFOLIOS
The Fund has and may, from time to time, add additional Portfolios,
which will become subject to this Agreement, if, upon the written consent of
each of the Parties hereto, they are made available as investment media for the
Contracts.
SECTION 2. PROCESSING TRANSACTIONS
2.1 TIMELY PRICING AND ORDERS.
The Adviser or its designated agent will provide closing net asset
value, dividend and capital gain information for each Portfolio to Insurer at
the close of trading on each day (a "Business Day") on which the New York Stock
Exchange is open for regular trading. The Fund or its designated agent will use
its best efforts to provide this information by 6:00 p.m., New York time, using
a mutually agreed upon format. Insurer will use these data to calculate unit
values, which in turn will be used to process transactions that receive that
same Business Day's Separate Account Subaccount's unit values. Such Separate
Account processing will be done the same evening, and corresponding orders with
respect to Fund shares will be placed the morning of the following Business Day.
Insurer will use its best efforts to place such orders with the Fund by 10:30
a.m., New York time.
2
2.2 TIMELY PAYMENTS.
Insurer will transmit orders for purchases and redemptions of Fund
shares to Distributor, and will wire payment for net purchases to a custodial
account designated by the Fund on the day the order for Fund shares is placed,
to the extent practicable. Payment for shares purchased shall be made in federal
funds transmitted by wire by 2:00 p.m. New York time as long as the banking
system is open for business. If the banking system is closed, payment will be
transmitted the next day that the banking system is open for business. If
payment is received by the Fund after 2:00 p.m. New York time on such Business
Day, Insurer shall, upon the Fund's request, promptly reimburse the Fund for any
charges, costs, fees, interest or other expenses incurred in connection with any
advances, borrowing, or overdrafts. The Fund will confirm receipt of each
purchase (using a mutually agreed upon format) by 1:00 p.m. New York time on the
Business Day the trade is placed. Payment for net redemptions will be wired by
the Fund to an account designated by Insurer on the same day as the order is
placed, to the extent practicable. The Fund agrees to redeem, upon Insurer's
request, any full or fractional shares of the designated Portfolio held by
Insurer. Payment for shares redeemed shall be made in federal funds transmitted
by wire by 2:00 p.m. New York time as long as the banking system is open for
business. If the banking system is closed, payment will be transmitted the next
day that the banking system is open for business. If payment is received by
Insurer after 2:00 p.m. New York time on such Business Day, the Fund shall, upon
the Insurer's request, promptly reimburse Insurer for any charges, costs, fees,
interest or other expenses incurred in connection with any advances, borrowing,
or overdrafts. The Fund will confirm receipt of each redemption (using a
mutually agreed upon format) by 1:00 p.m. New York time on the Business Day the
trade is placed. In any event payment will be made within six calendar days
after the date the order is placed in order
3
to enable Insurer to pay redemption proceeds within the time specified in
Section 22(e) of the Investment Company Act of 1940, as amended
(the "1940 Act").
2.3 APPLICABLE PRICE.
The Parties agree that Portfolio share purchase and redemption orders
resulting from Contract owner purchase payments, surrenders, partial
withdrawals, routine withdrawals of charges, or other transactions under
Contracts will be executed at the net asset values as determined as of the close
of regular trading on the New York Stock Exchange on the Business Day that
Insurer receives such orders and processes such transactions, which, Insurer
agrees shall occur not earlier than the Business Day prior to Distributor's
receipt of the corresponding orders for purchases and redemptions of Portfolio
shares. For the purposes of this section, Insurer shall be deemed to be the
agent of the Fund for receipt of such orders from holders or applicants of
contracts, and receipt by Insurer shall constitute receipt by the Fund. All
other purchases and redemptions of Portfolio shares by Insurer, will be effected
at the net asset values next computed after receipt by Distributor of the order
therefor, and such orders will be irrevocable. Insurer hereby elects to reinvest
all dividends and capital gains distributions in additional shares of the
corresponding Portfolio at the record-date net asset values until Insurer
otherwise notifies the Fund in writing, it being agreed by the Parties that the
record date and the payment date with respect to any dividend or distribution
will be the same Business Day.
4
SECTION 3. COSTS AND EXPENSES
3.1 GENERAL.
Except as otherwise specifically provided herein, each Party will bear
all expenses incident to its performance under this Agreement.
3.2 REGISTRATION.
The Fund will bear the cost of its registering as a management
investment company under the 1940 Act and registering its shares under the
Securities Act of 1933, as amended (the "1933 Act"), and keeping such
registrations current and effective; including, without limitation, the
preparation of and filing with the SEC of Forms N-SAR and Rule 24f-2 Notices
respecting the Fund and its shares and payment of all applicable registration or
filing fees with respect to any of the foregoing. Insurer will bear the cost of
registering the Separate Account as a unit investment trust under the 1940 Act
(unless exempt therefrom) and registering units of interest under the Contracts
under the 1933 Act (unless exempt therefrom) and keeping such registrations
current and effective; including, without limitation, the preparation and filing
with the SEC of Forms N-SAR and Rule 24f-2 Notices respecting the Separate
Account and its units of interest (unless exempt therefrom) and payment of all
applicable registration or filing fees with respect to any of the foregoing.
3.3 OTHER (NON-SALES-RELATED) EXPENSES.
The Fund will bear the costs of preparing, filing with the SEC and
setting for printing the Fund's prospectus, statement of additional information
and any amendments or supplements thereto (collectively, the "Fund Prospectus"),
periodic reports to shareholders, Fund proxy material and other shareholder
communications and any related requests for voting instructions from
Participants (as defined below). Insurer will bear the costs of preparing,
filing with the SEC and setting for printing,
5
the Separate Account's prospectus, statement of additional information and
any amendments or supplements thereto (collectively, the "Separate Account
Prospectus"), any periodic reports to owners, annuitants or participants under
the Contracts (collectively, "Participants"), and other Participant
communications. The Fund and Insurer each will bear the costs of printing in
quantity and delivering to existing Participants the documents as to which it
bears the cost of preparation as set forth above in this Section 3.3, it being
understood that reasonable cost allocations will be made in cases where any
such Fund and Insurer documents are printed or mailed on a combined or
coordinated basis. If REQUESTED by Insurer, the Fund will provide annual
Prospectus text to Insurer on diskette (or by other means as may be mutually
agreed upon) for printing and binding with the Separate Account Prospectus.
3.4 OTHER SALES-RELATED EXPENSES.
Expenses of distributing the Portfolio's shares and the Contracts will
be paid by Contracts Distributor and Insurer and other parties, as they shall
determine by separate agreement.
3.5 PARTIES TO COOPERATE.
The Adviser, Insurer, Contracts Distributor and Distributor each agrees
to cooperate with the others, as applicable, in arranging to print, mail and/or
deliver combined or coordinated prospectuses or other materials of the Fund and
Separate Account.
SECTION 4. LEGAL COMPLIANCE
4.1 TAX LAWS.
(a) The Adviser will use its best efforts to qualify and to maintain
qualification of each Portfolio as a regulated investment company ("RIC") under
Subchapter M of the Internal
6
Revenue Code of 1986, as amended (the "Code"), and the Adviser or Distributor
will notify Insurer immediately upon having a reasonable basis for believing
that a Portfolio has ceased to so qualify or that it might not so qualify
in the future.
(b) Insurer represents that it believes, in good faith, that the
Contracts will be treated as annuity contracts or life insurance policies under
applicable provisions of the Code and that it will make every effort to maintain
such treatment. Insurer will notify the Fund and Distributor immediately upon
having a reasonable basis for believing that any of the Contracts have ceased to
be so treated or that they might not be so treated in the future.
(c) The Adviser and the Distributor represent and warrant that the Fund
currently qualifies as a Regulated Investment Company under Subchapter M of the
Code and will make every effort to continue to qualify and to maintain such
qualification (under Subchapter M or any successor or similar provision), and
that they will notify the company immediately upon having a reasonable basis for
believing that the Fund has ceased to so qualify or that it might not so qualify
in the future. The Adviser and the Distributor represent and warrant that the
Fund will comply with Section 817(h) of the Code, and all regulations issued
thereunder. In the event of a breach of this Section the Adviser and the
Distributor will: a) immediately notify the Insurer of such breach; and (b) take
the steps necessary to adequately diversify each portfolio so as to achieve such
compliance within the period allowed by regulation.
(d) Insurer represents that it believes, in good faith, that the
Separate Account is a "segregated asset account" and that interests in the
Separate Account are offered exclusively through the purchase of or transfer
into a "variable contract," within the meaning of such terms under Section
817(h) of the Code and the regulations thereunder. Insurer will make every
effort to continue to meet
7
such definitional requirements, and it will notify the Fund and Distributor
immediately upon having a reasonable basis for believing that such requirements
have ceased to be met or that they might not be met in the future.
(e) The Adviser will manage the Fund as a RIC in compliance with
Subchapter M of the Code and will use its best efforts to manage to be in
compliance with Section 817(h) of the Code and regulations thereunder. The Fund
has adopted and will maintain procedures for ensuring that the Fund is managed
in compliance with Subchapter M and Section 817(h) and regulations thereunder.
(f) Should the Distributor or Adviser become aware of a failure of
Fund, or any of its Portfolios, to be in compliance with Subchapter M of the
Code or Section 817(h) of the Code and regulations thereunder, they represent
and agree that they will immediately notify Insurer of such in writing.
(g) The Distributor agrees that shares of the Fund will be sold only to
Participating Insurance Companies and their separate accounts. No shares of any
Portfolio will be sold to the general public.
4.2 INSURANCE AND CERTAIN OTHER LAWS.
(a) The Adviser will use its best efforts to cause the Fund to comply
with any applicable state insurance laws or regulations, to the extent
specifically requested in writing by Insurer. If it cannot comply, it will so
notify Insurer in writing.
(b) Insurer represents and warrants that (i) it is an insurance company
duly organized and validly existing under the laws of the State of New York and
has full corporate power, authority and legal right to execute, deliver and
perform its duties and comply with its obligations under this
8
Agreement, (ii) it has legally and validly established and maintains the
Separate Account as a segregated asset account under New York Law and (iii)
the Contracts comply in all material respects with all other applicable
federal and state laws and regulations.
(c) Contracts Distributor represents and warrants that it is a business
corporation duly organized, validly existing, and in good standing under the
laws of the State of Indiana and has full corporate power, authority and legal
right to execute, deliver, and perform its duties and comply with its
obligations under this Agreement.
(d) Distributor represents and warrants that it is a business
corporation duly organized, validly existing, and in good standing under the
laws of the State of Delaware and has full corporate power, authority and legal
right to execute, deliver, and perform its duties and comply with its
obligations under this Agreement.
(e) Distributor represents and warrants that the Fund is a corporation
duly organized, validly existing, and in good standing under the laws of the
State of Maryland and has full power, authority, and legal right to execute,
deliver, and perform its duties and comply with its obligations under this
Agreement.
(f) Adviser represents and warrants that it is a limited partnership,
duly organized, validly existing and in good standing under the laws of the
State of Delaware and has full power, authority, and legal right to execute,
deliver, and perform its duties and comply with its obligations under this
Agreement.
9
4.3 SECURITIES LAWS.
(a) Insurer represents and warrants that (i) interests in the Separate
Account pursuant to the Contracts will be registered under the 1933 Act to the
extent required by the 1933 Act and the Contracts will be duly authorized for
issuance and sold in compliance with applicable state law, (ii) the Separate
Account is and will remain registered under the 1940 Act to the extent required
by the 1940 Act (unless exempt therefrom), (iii) the Separate Account does and
will comply in all material respects with the requirements of the 1940 Act and
the rules thereunder (unless exempt therefrom), (iv) the Separate Account's 1933
Act registration statement relating to the Contracts, together with any
amendments thereto, will, at all times comply in all material respects with the
requirements of the 1933 Act and the rules thereunder (unless exempt therefrom),
and (v) the Separate Account Prospectus will at all times comply in all material
respects with the requirements of the 1933 Act and the rules thereunder (unless
exempt therefrom).
(b) The Adviser and Distributor represent and warrant that (i) Fund
shares sold pursuant to this Agreement will be registered under the 1933 Act to
the extent required by the 1933 Act and duly authorized for issuance and sold in
compliance with Maryland law, (ii) the Fund is and will remain registered under
the 1940 Act to the extent required by the 1940 Act, (iii) the Fund will amend
the registration statement for its shares under the 1933 Act and itself under
the 1940 Act from time to time as required in order to effect the continuous
offering of its shares, (iv) the Fund does and will comply in all material
respects with the requirements of the 1940 Act and the rules thereunder, (v) the
Fund's 1933 Act registration statement, together with any amendments thereto,
will at all times comply in all material respects with the requirements of the
1933 Act and rules thereunder, and (vi) the Fund Prospectus will at all times
comply in all material respects with the requirements of the 1933 Act and the
rules thereunder.
10
(c) The Fund will register and qualify its shares for sale in
accordance with the laws of any state or other jurisdiction only if and to the
extent reasonably deemed advisable by the Fund, Insurer or any other life
insurance company utilizing the Fund.
(d) Distributor and Contracts Distributor each represents and warrants
that it is registered as a broker-dealer with the SEC under the Securities
Exchange Act of 1934, as amended, and is a member in good standing of the
National Association of Securities Dealers Inc. (the "NASD").
4.4 NOTICE OF CERTAIN PROCEEDINGS AND OTHER CIRCUMSTANCES.
(a) Distributor or the Fund shall immediately notify Insurer of (i)
the issuance by any court or regulatory body of any stop order, cease and desist
order, or other similar order with respect to the Fund's registration statement
under the 1933 Act or the Fund Prospectus, (ii) any request by the SEC for any
amendment to such registration statement or Fund Prospectus, (iii) the
initiation of any proceedings for that purpose or for any other purpose relating
to the registration or offering of the Fund's shares, or (iv) any other action
or circumstances that may prevent the lawful offer or sale of Fund shares in any
state or jurisdiction, including, without limitation, any circumstances in which
(x) the Fund's shares are not registered and, in all material respects, issued
and sold in accordance with applicable state and federal law or (y) such law
precludes the use of such shares as an underlying investment medium of the
Contracts issued or to be issued by Insurer. Distributor and the Fund will make
every reasonable effort to prevent the issuance of any such stop order, cease
and desist order or similar order and, if any such order is issued, to obtain
the lifting thereof at the earliest possible time.
(b) Insurer and Contracts Distributor shall immediately notify the
Fund of (i) the issuance by any court or regulatory body of any stop order,
cease and desist order or similar order with respect to the Separate Account's
registration statement under the 1933 Act relating to the Contracts or the
11
Separate Account Prospectus, (ii) any request by the SEC for any amendment to
such registration statement or Separate Account Prospectus, (iii) the initiation
of any proceedings for that purpose or for any other purpose relating to the
registration or offering of the Separate Account interests pursuant to the
Contracts, or (iv) any other action or circumstances that may prevent the lawful
offer or sale of said interests in any state or jurisdiction, including, without
limitation, any circumstances in which said interests are not registered and, in
all material respects, issued and sold in accordance with applicable state and
federal law. Insurer and Contracts Distributor will make every reasonable effort
to prevent the issuance of any such stop order, cease and desist order or
similar order and, if any such order is issued, to obtain the lifting thereof at
the earliest possible time.
4.5 INSURER TO PROVIDE DOCUMENTS.
Upon reasonable request, Insurer will provide the Fund and the
Distributor one complete copy of SEC registration statements, Separate Account
Prospectuses, reports, any preliminary and final voting instruction solicitation
material, applications for exemptions, requests for no-action letters, and
amendments to any of the above, that relate to the Separate Account or the
Contracts, and their investment in the Fund, within 20 days of the filing of
such document with the SEC or other regulatory authorities.
4.6 FUND TO PROVIDE DOCUMENTS.
Upon reasonable request, the Fund will provide to Insurer one complete
copy of SEC registration statements, Fund Prospectuses, reports, any preliminary
and final proxy material, applications for exemptions, requests for no-action
letters, and all amendments to any of the above, that relate to the Fund or its
shares, within 20 days of the filing of such document with the SEC or other
regulatory authorities.
12
SECTION 5. MIXED AND SHARED FUNDING
5.1 General.
The Fund has obtained an order exempting it from certain provisions of
the 1940 Act and rules thereunder so that the Fund is available for investment
by certain other entities, including, without limitation, separate accounts
funding variable life insurance policies and separate accounts of insurance
companies unaffiliated with Insurer ("Mixed and Shared Funding Order"). The
Parties recognize that the SEC has imposed terms and conditions for such orders
that are substantially identical to many of the provisions of this Section 5.
5.2 DISINTERESTED DIRECTORS.
The Fund agrees that its Board of Directors shall at all times consist
of directors a majority of whom (the "Disinterested Directors") are not
interested persons of Adviser or Distributor within the meaning of Section
2(a)(19) of the 1940 Act.
5.3 MONITORING FOR MATERIAL IRRECONCILABLE CONFLICTS.
The Fund agrees that its Board of Directors will monitor for the
existence of any material irreconcilable conflict between the interests of the
participants in all separate accounts of life insurance companies utilizing the
Fund, including the Separate Account. Insurer agrees to inform the Board of
Directors of the Fund of the existence of or any potential for any such material
irreconcilable conflict of which it is aware. The concept of a "material
irreconcilable conflict" is not defined by the 1940 Act or the rules thereunder,
but the Parties recognize that such a conflict may arise for a variety of
reasons, including, without limitation:
(a) an action by any state insurance or other regulatory authority;
13
(b) a change in applicable federal or state insurance, tax or
securities laws or regulations, or a public ruling, private letter ruling,
no-action or interpretative letter, or any similar action by insurance, tax or
securities regulatory authorities;
(c) an administrative or judicial decision in any relevant proceeding;
(d) the manner in which the investments of any Portfolio are
being managed;
(e) a difference in voting instructions given by variable annuity
contract and variable life insurance contract participants or by participants of
different life insurance companies utilizing the Fund; or
(f) a decision by a life insurance company utilizing the Fund to
disregard the voting instructions of participants.
Insurer will assist the Board of Directors in carrying out its
responsibilities by providing the Board of Directors with all information
reasonably requested and necessary for the Board of Directors to consider any
issue raised, including information as to a decision by Insurer to disregard
voting instructions of Participants.
5.4 CONFLICT REMEDIES.
(a) It is agreed that if it is determined by a majority of the members
of the Board of Directors or a majority of the Disinterested Directors that a
material irreconcilable conflict exists, Insurer and the other life insurance
companies utilizing the Fund will, at their own expense and to the extent
reasonably practicable (as determined by a majority of the Disinterested
Directors), take
14
whatever steps are necessary to remedy or eliminate the
material irreconcilable conflict, which steps may include, but are not limited
to:
(i) withdrawing the assets allocable to some or all of the separate
accounts from the Fund or any Portfolio and reinvesting such
assets in a different investment medium, including another
Portfolio of the Fund, or submitting the question whether such
segregation should be implemented to a vote of all affected
participants and, as appropriate, segregating the assets of any
particular group (e.g., annuity contract owners or participants,
life insurance contract owners or all contract owners and
participants of one or more life insurance companies utilizing the
Fund) that votes in favor of such segregation, or offering
to the affected contract owners or participants the option of
making such a change; and
(ii) establishing a new registered investment company of the type
defined as a "Management Company" in Section 4(3) of the 1940
Act or a new separate account that is operated as a Management
Company.
(b) If the material irreconcilable conflict arises because of
Insurer's decision to disregard Participant voting instructions and that
decision represents a minority position or would preclude a majority vote,
Insurer may be required, at the Fund's election, to withdraw the Separate
Account's investment in the Fund. No charge or penalty will be imposed as
a result of such withdrawal. Any such withdrawal must take place within six
months after the Fund gives notice to Insurer that this provision is being
implemented, and until such withdrawal Distributor and the Fund shall continue
to accept and implement orders by Insurer for the purchase and redemption of
shares of the Fund or upon receipt of a substitution order granted by the
SEC, whichever is later.
15
(c) If a material irreconcilable conflict arises because a particular
state insurance regulator's decision applicable to Insurer conflicts with the
majority of other state regulators, then Insurer will withdraw the Separate
Account's investment in the Fund within six months after the Fund's Board of
Directors informs Insurer that it has determined that such decision has created
a material irreconcilable conflict, and until such withdrawal Distributor and
Fund shall continue to accept and implement orders by Insurer for the purchase
and redemption of shares of the Fund or upon receipt of a substitution order
granted by the SEC, whichever is later.
(d) Insurer agrees that any remedial action taken by it in resolving
any material irreconcilable conflict will be carried out at its expense and with
a view only to the interests of Participants.
(e) For purposes hereof, a majority of the Disinterested Directors
will determine whether or not any proposed action adequately remedies any
material irreconcilable conflict. In no event, however, will the Insurer, Fund
or Distributor be required to establish a new funding medium for any Contracts.
Insurer will not be required by the terms hereof to establish a new funding
medium for any Contracts if an offer to do so has been declined by vote of a
majority of Participants materially adversely affected by the material
irreconcilable conflict.
5.5 NOTICE TO INSURER.
The Fund will promptly make known in writing to Insurer the Board of
Directors' determination of the existence of a material irreconcilable conflict,
a description of the facts that give rise to such conflict and the implications
of such conflict.
16
5.6 INFORMATION REQUESTED BY BOARD OF DIRECTORS.
Insurer and the Fund will at least annually submit to the Board of
Directors of the Fund such reports, materials or data as the Board of Directors
may reasonably request so that the Board of Directors may fully carry out the
obligations imposed upon it by the provisions hereof, and said reports,
materials and data will be submitted at any reasonable time deemed appropriate
by the Board of Directors. All reports received by the Board of Directors of
potential or existing conflicts, and all Board of Directors actions with regard
to determining the existence of a conflict, notifying life insurance companies
utilizing the Fund of a conflict, and determining whether any proposed action
adequately remedies a conflict, will be properly recorded in the minutes of the
Board of Directors or other appropriate records, and such minutes or other
records will be made available to the SEC upon request.
5.7 COMPLIANCE WITH SEC RULES.
If, at any time during which the Fund is serving an investment medium
for variable life insurance policies, 1940 Act Rules 6e-3(T) or, if applicable,
6e-2 are amended or Rule 6e-3 is adopted to provide exemptive relief with
respect to mixed and shared funding, the Parties agree that they will comply
with the terms and conditions thereof and that the terms of this Section 5 shall
be deemed modified if and only to the extent required in order also to comply
with the terms and conditions of such exemptive relief that is afforded by any
of said rules that are applicable.
SECTION 6. TERMINATION
6.1 EVENTS OF TERMINATION.
Subject to Section 6.4 below, this Agreement will terminate as to a
Portfolio:
17
(a) at the option of Insurer or Distributor upon at least six months
advance written notice to the other Parties, or
(b) at the option of the Fund upon (i) at least sixty days advance
written notice to the other parties, and (ii) approval by a majority vote of the
shares of the affected Portfolio in the corresponding Subaccount of the Separate
Account (pursuant to the procedures set forth in Section 11 of this Agreement
for voting Trust shares in accordance with Participant instructions).
(c) at the option of the Fund upon institution of formal proceedings
against Insurer or Contracts Distributor by the NASD, the SEC, any state
insurance regulator or any other regulatory body regarding Insurer's obligations
under this Agreement or related to the sale of the Contracts, the operation of
the Separate Account, or the purchase of the Fund shares, if, in each case, the
Fund reasonably determines that such proceedings, or the facts on which such
proceedings would be based, have a material likelihood of imposing material
adverse consequences on the Portfolio to be terminated; or
(d) at the option of Insurer upon institution of formal proceedings
against the Fund, Adviser, or Distributor by the NASD, the SEC, or any state
insurance regulator or any other regulatory body regarding the Fund's, Adviser's
or Distributor's obligations under this Agreement or related to the operation or
management of the Fund or the purchase of Fund shares, if, in each case, Insurer
reasonably determines that such proceedings, or the facts on which such
proceedings would be based, have a material likelihood of imposing material
adverse consequences on Insurer, Contracts Distributor or the Subaccount
corresponding to the Portfolio to be terminated; or
18
(e) at the option of any Party in the event that (i) the Portfolio's
shares are not registered and, in all material respects, issued and sold in
accordance with any applicable state and federal law or (ii) such law precludes
the use of such shares as an underlying investment medium of the Contracts
issued or to be issued by Insurer; or
(f) upon termination of the corresponding Subaccount's investment in
the Portfolio pursuant to Section 5 hereof; or
(g) at the option of Insurer if the Portfolio ceases to qualify as a
RIC under Subchapter M of the Code or under successor or similar provisions; or
(h) at the option of Insurer if the Portfolio fails to comply with
Section 817(h) of the Code or with successor or similar provisions; or
(i) at the option of Insurer if Insurer reasonably believes that any
change in a Fund's investment adviser or investment practices will materially
increase the risks incurred by Insurer.
6.2 FUNDS TO REMAIN AVAILABLE.
Except (i) as necessary to implement Participant-initiated
transactions, (ii) as required by state insurance laws or regulations, (iii) as
required pursuant to Section 5 of this Agreement, (iv) with respect to any
Portfolio as to which this Agreement has terminated, or (v) pursuant to an SEC
approved Substitution Order, Insurer shall not (x) redeem Fund shares
attributable to the Contracts, or (y) prevent Participants from allocating
payments to or transferring amounts from a Portfolio that was otherwise
available under the Contracts, until, in either case, 90 calendar days after
Insurer shall have notified the Fund or Distributor of its intention to do so.
19
6.3 SURVIVAL OF WARRANTIES AND INDEMNIFICATIONS.
All warranties and indemnifications will survive the termination of
this Agreement.
6.4 CONTINUANCE OF AGREEMENT FOR CERTAIN PURPOSES.
Notwithstanding any termination of this Agreement, the Distributor
shall continue to make available shares of the Portfolios pursuant to the terms
and conditions of this Agreement, for all Contracts in effect on the effective
date of termination of this Agreement (the "Existing Contracts"), except as
otherwise provided under Section 5 of this Agreement. Specifically, and without
limitation, the Distributor shall facilitate the sale and purchase of shares of
the Portfolios as necessary in order to process premium payments, surrenders and
other withdrawals, and transfers or reallocations of values under Existing
Contracts.
SECTION 7. PARTIES TO COOPERATE RESPECTING TERMINATION
The other Parties hereto agree to cooperate with and give reasonable
assistance to Insurer in taking all necessary and appropriate steps for the
purpose of ensuring that the Separate Account owns no shares of a Portfolio
after the Final Termination Date with respect thereto except as specified under
Section 6.4 of this Agreement.
SECTION 8. ASSIGNMENT
This Agreement may not be assigned by any Party, except with the
written consent of each other Party.
20
SECTION 9. CLASS B DISTRIBUTION PAYMENTS
From time to time during the term of this Agreement the Distributor may
make payments to the Contracts Distributor pursuant to a distribution plan
adopted by the Fund with respect to the Class B shares of the Portfolios
pursuant to Rule 12b-1 under the 1940 Act (the "Rule 12b-1 Plan) in
consideration of the Contracts Distributor's furnishing distribution services
relating to the Class B shares of the Portfolios and providing administrative,
accounting and other services, including personal service and/or the maintenance
of Participant accounts, with respect to such shares. The Distributor has no
obligation to make any such payments, and the Contracts Distributor waives any
such payment, until the Distributor receives monies therefor from the Fund. Any
such payments made pursuant to this Section 9 shall be subject to the following
terms and conditions:
(a) Any such payments shall be in such amounts as the Distributor may
from time to time advise the Contracts Distributor in writing but in any event
not in excess of the amounts permitted by the Rule 12b-1 Plan. Such payments may
include a service fee in the amount of .25 of 1% per annum of the average daily
net assets of the Fund attributable to the Class B shares of a Portfolio held by
clients of the Contracts Distributor. Any such service fee shall be paid solely
for personal service and/or the maintenance of Participant accounts.
(b) The provisions of this Section 9 relate to a plan adopted by the
Fund pursuant to Rule 12b-1. In accordance with Rule 12b-1, any person
authorized to direct the disposition of monies paid or payable by the Fund
pursuant to this Section 9 shall provide the Fund's Board of Directors, and the
Directors shall review, at least quarterly, a written report of the amounts so
expended and the purposes for which such expenditures were made.
(c) The provisions of this Section 9 shall remain in effect for not
more than a year and thereafter for successive annual periods only so long as
such continuance is specifically approved
21
at least annually in conformity with Rule 12b-1 and the 1940 Act. The provisions
of this Section 9 shall automatically terminate in the event of the assignment
(as defined by the 0000 Xxx) of this Agreement, in the event the Rule 12b-1
Plan terminates or is not continued or in the event this Agreement terminates
or ceases to remain in effect. In addition, the provisions of this Section 9
may be terminated at any time, without penalty, by either the Distributor or
the Contracts Distributor with respect to any Portfolio on not more than
60 days' nor less than 30 days' written notice delivered or mailed by
registered mail, postage prepaid, to the other party.
SECTION 10. NOTICES
Notices and communications required or permitted by Section 2 hereof
will be given by means mutually acceptable to the Parties concerned. Each other
notice or communication required or permitted by this Agreement will be given to
the following persons at the following addresses and facsimile numbers, or such
other persons, addresses or facsimile numbers as the Party receiving such
notices or communications may subsequently direct in writing:
Lincoln Life & Annuity Company
of New York
000 Xxxxxxx Xxxxxx, 00xx Xxxxx
Xxxxxxxx, XX 00000
Attn.: Xxxx Xxxxxxx
Lincoln Financial Advisors Corporation
000 Xxxx Xxxxx Xxxxxx
Xx. Xxxxx, XX 00000
Attn.: Xxxxxxx X. Xxxxxx
Alliance Fund Distributors, Inc.
0000 Xxxxxx xx xxx Xxxxxxxx
Xxx Xxxx XX 00000
Attn.: Xxxxxx X. Xxxxxx
FAX: (000) 000-0000
22
Alliance Capital Management L.P.
0000 Xxxxxx xx xxx Xxxxxxxx
Xxx Xxxx XX 00000
Attn: Xxxxxx X. Xxxxxx
FAX: (000) 000-0000
SECTION 11. VOTING PROCEDURES
Subject to the cost allocation procedures set forth in Section 3
hereof, Insurer will distribute all proxy material furnished by the Fund to
Participants (unless exempt therefrom) and will vote Fund shares in accordance
with instructions received from Participants. Unless exempt therefrom, and for
each Separate Account, Insurer will vote Fund shares that are (a) not
attributable to Participants or (b) attributable to Participants, but for which
no instructions have been received, in the same proportion as Fund shares for
which said instructions have been received from Participants. Insurer agrees
that it will disregard Participant voting instructions only to the extent it
would be permitted to do so pursuant to Rule 6e-3 (T)(b)(15)(iii) under the 1940
Act if the Contracts were variable life insurance policies subject to that rule.
Other participating life insurance companies utilizing the Fund will be
responsible for calculating voting privileges in a manner consistent with that
of Insurer, as prescribed by this Section 11.
SECTION 12. FOREIGN TAX CREDITS
The Adviser agrees to consult in advance with Insurer concerning any
decision to elect or not to elect pursuant to Section 853 of the Code to pass
through the benefit of any foreign tax credits to the Fund's shareholders.
23
SECTION 13. INDEMNIFICATION
13.1 OF FUND, DISTRIBUTOR AND ADVISER BY INSURER.
(a) Except to the extent provided in Sections 13.1(b) and 13.1(c),
below, Insurer agrees to indemnify and hold harmless the Fund, Distributor and
Adviser, each of their directors and officers, and each person, if any, who
controls the Fund, Distributor or Adviser within the meaning of Section 15 of
the 1933 Act (collectively, the "Indemnified Parties" for purposes of this
Section 13. 1) against any and all losses, claims, damages, liabilities
(including amounts paid in settlement with the written consent of Insurer) or
actions in respect thereof (including, to the extent reasonable, legal and other
expenses), to which the Indemnified Parties may become subject under any
statute, regulation, at common law or otherwise, insofar as such losses, claims,
damages, liabilities or actions are related to the sale, acquisition, or holding
of the Fund's shares and:
(i) arise out of or are based upon any untrue statement or alleged
untrue statement of any material fact contained in the Separate
Account's 1933 Act registration statement, the Separate Account
Prospectus, the Contracts or, to the extent prepared by Insurer,
sales literature or advertising for the Contracts (or any
amendment or supplement to any of the foregoing), or arise out of
or are based upon the omission or the alleged omission to state
therein a material fact required to be stated therein or necessary
to make the statements therein not misleading; provided that this
agreement to indemnify shall not apply as to any Indemnified Party
if such statement or omission or such alleged statement or
omission was made in reliance upon and in conformity with
information furnished to Insurer by or on behalf of the Fund,
Distributor or Adviser for use in the Separate Account's 1933
Act registration
24
statement, the Separate Account Prospectus, the Contracts, or
sales literature or advertising (or any amendment or supplement
to any of the foregoing); or
(ii) arise out of or as a result of any other statements or
representations (other than statements or representations
contained in the Fund's 1933 Act registration statement, Fund
Prospectus, sales literature or advertising of the Fund, or any
amendment or supplement to any of the foregoing, not supplied for
use therein by or on behalf of Insurer or the negligent, illegal
or fraudulent conduct of Insurer or persons under their control
(including, without limitation, their employees and "Associated
Persons," as that term is defined in paragraph (m) of Article I
of the NASD's By-Laws), in connection with the sale or
distribution of the Contracts or Fund shares; or
(iii) arise out of or are based upon any untrue statement or alleged
untrue statement of any material fact contained in the Fund's 1933
Act registration statement, Fund Prospectus, sales literature
or advertising of the Fund, or any amendment or supplement to any
of the foregoing, or the omission or alleged omission to state
therein a material fact required to be stated therein or
necessary to make the statements therein not misleading if such a
statement or omission was made in reliance upon and in conformity
with information furnished to the Fund, Adviser or Distributor by
or on behalf of Insurer for use in the Fund's 1933 Act
registration statement, Fund Prospectus, sales literature or
advertising of the Fund, or any amendment or supplement to
any of the foregoing; or
25
(iv) arise as a result of any failure by Insurer to perform the
obligations, provide the services and furnish the materials
required of them under the terms of this Agreement; or
(v) arise out of or result from any material breach of any
representation and/or warranty made by the Insurer in the
Agreement.
(b) Insurer shall not be liable under this Section 13.1 with respect
to any losses, claims, damages, liabilities or actions to which an Indemnified
Party would otherwise be subject by reason of willful misfeasance, bad faith, or
gross negligence in the performance by that Indemnified Party of its duties or
by reason of that Indemnified Party's reckless disregard of obligations or
duties under this Agreement or to Distributor or to the Fund.
(c) Insurer shall not be liable under this Section 13.1 with respect
to any action against an Indemnified Party unless the Fund, Distributor or
Adviser shall have notified Insurer in writing within a reasonable time after
the summons or other first legal process giving information of the nature of
the action shall have been served upon such Indemnified Party (or after such
Indemnified Party shall have received notice of such service on any designated
agent), but failure to notify Insurer of any such action shall not relieve
Insurer from any liability which it may have to the Indemnified Party against
whom such action is brought otherwise than on account of this Section 13. 1. In
case any such action is brought against an Indemnified Party, Insurer shall be
entitled to participate, at its own expense, in the defense of such action.
Insurer also shall be entitled to assume the defense thereof, with counsel
approved by the Indemnified Party named in the action, which approval shall not
be unreasonably withheld. After notice from Insurer to such Indemnified Party of
Insurer's election to assume the defense thereof, the Indemnified Party will
cooperate fully with Insurer and shall bear the
26
fees and expenses of any additional counsel retained by it, and Insurer
will not be liable to such Indemnified Party under this Agreement for any
legal or other expenses subsequently incurred by such Indemnified Party
independently in connection with the defense thereof, other than
reasonable costs of investigation.
13.2 INDEMNIFICATION OF INSURER AND CONTRACTS DISTRIBUTOR BY
ADVISER AND DISTRIBUTOR
(a) Except to the extent provided in Sections 13.2(d) and 13.2(e),
below, Adviser and Distributor agree to indemnify and hold harmless Insurer and
Contracts Distributor, each of their directors and officers, and each person, if
any, who controls Insurer or Contracts Distributor within the meaning of Section
15 of the 1933 Act (collectively, the "Indemnified Parties" for purposes of this
Section 13.2) against any and all losses, claims, damages, liabilities
(including amounts paid in settlement with the written consent of Adviser) or
actions in respect thereof (including, to the extent reasonable, legal and other
expenses) to which the Indemnified Parties may become subject under any statute,
at common law or otherwise, insofar as such losses, claims, damages, liabilities
or actions are related to the sale, acquisition, or holding of the Fund's shares
and:
(i) arise out of or are based upon any untrue statement or alleged
untrue statement of any material fact contained in the Fund's 1933
Act registration statement, Fund Prospectus, sales literature
or advertising of the Fund or, to the extent not prepared by
Insurer or Contracts Distributor, sales literature or advertising
for the Contracts (or any amendment or supplement to any of the
foregoing), or arise out of or are based upon the omission or the
alleged omission to state therein a material fact required to be
stated therein or necessary to make the statements therein not
misleading; provided that this agreement to indemnify shall not
apply as to any Indemnified Party if such
27
statement or omission or such alleged statement or omission was
made in reliance upon and in conformity with information furnished
to Distributor, Adviser or the Fund by or on behalf of Insurer or
Contracts Distributor for use in the Fund's 1933 Act registration
statement, Fund Prospectus, or in sales literature or advertising
(or any amendment or supplement to any of the foregoing); or
(ii) arise out of or as a result of any other statements or
representations (other than statements or representations
contained in the Separate Account's 1933 Act registration
statement, Separate Account Prospectus, sales literature or
advertising for the Contracts, or any amendment or supplement
to any of the foregoing, not supplied for use therein by or on
behalf of Distributor, Adviser, or the Fund) or the negligent,
illegal or fraudulent conduct of the Fund, Distributor, Adviser
or persons under their control (including, without limitation,
their employees and Associated Persons), in connection with the
sale or distribution of the Contracts or Fund shares; or
(iii) arise out of or are based upon any untrue statement or alleged
untrue statement of any material fact contained in the Separate
Account's 1933 Act registration statement, Separate Account
Prospectus, sales literature or advertising covering the
Contracts, or any amendment or supplement to any of the foregoing,
or the omission or alleged omission to state therein a
material fact required to be stated therein or necessary to make
the statements therein not misleading, if such statement or
omission was made in reliance upon and in conformity with
information furnished to Insurer or Contracts Distributor by or
on behalf of the Fund, Distributor or Adviser for use in the
Separate Account's 1933 Act registration statement, Separate
Account Prospectus, sales
28
literature or advertising covering the
Contracts, or any amendment or supplement to any of the
foregoing; or
(iv) arise as a result of any failure by the Fund, Adviser or
Distributor to perform the obligations, provide the services
and furnish the materials required of them under the terms of
this Agreement; or
(v) arise out of or result from any material breach of any
representation and/or warranty made by the Fund, Adviser, or
Distributor in the Agreement.
(b) Except to the extent provided in Sections 13.2(d) and 13.2(e)
hereof, Adviser and Distributor agree to indemnify and hold harmless the
Indemnified Parties from and against any and all losses, claims, damages,
liabilities (including amounts paid in settlement thereof with, except as set
forth in Section 13.2(c) below, the written consent of Adviser) or actions in
respect thereof (including, to the extent reasonable, legal and other expenses)
to which the Indemnified Parties may become subject directly or indirectly under
any statute, at common law or otherwise, insofar as such losses, claims,
damages, liabilities or actions directly or indirectly result from or arise out
of the failure of any Portfolio to operate as a regulated investment company in
compliance with (i) Subchapter M of the Code and regulations thereunder and (ii)
Section 817(h) of the Code and regulations thereunder (except to the extent that
such failure is caused by Insurer), including, without limitation, any income
taxes and related penalties, rescission charges, liability under state law to
Contract owners or Participants asserting liability against Insurer or Contracts
Distributor pursuant to the Contracts, the costs of any ruling and closing
agreement or other settlement with the Internal Revenue Service, and the cost of
any substitution by Insurer of shares of another investment company
29
or portfolio for those of any adversely affected Portfolio as a funding
medium for the Separate Account that Insurer deems necessary or
appropriate as a result of the noncompliance.
(c) The written consent of Adviser and Distributor referred to in
Section 13.2(b) above shall not be required with respect to amounts paid in
connection with any ruling and closing agreement or other settlement with the
Internal Revenue Service.
(d) Adviser and Distributor shall not be liable under this
Section 13.2 with respect to any losses, claims; damages, liabilities or
actions to which an Indemnified Party would otherwise be subject by reason of
willful misfeasance, bad faith, or gross negligence in the performance by that
Indemnified Party of its duties or by reason of such Indemnified Party's
reckless disregard of its obligations and duties under this Agreement or to
Insurer, Contracts Distributor or the Separate Account.
(e) Adviser and Distributor shall not be liable under this
Section 13.2 with respect to any action against an Indemnified Party unless
Insurer or Contracts Distributor shall have notified Adviser and Distributor
in writing within a reasonable time after the summons or other first legal
process giving information of the nature of the action shall have been served
upon such Indemnified Party (or after such Indemnified Party shall have
received notice of such service on any designated agent), but failure to notify
Adviser or Distributor of any such action shall not relieve Adviser or
Distributor from any liability which it may have to the Indemnified Party
against whom such action is brought otherwise than on account of this
Section 13.2. In case any such action is brought against an Indemnified Party,
Adviser and Distributor will be entitled to participate, at its own expense,
in the defense of such action. Adviser and Distributor also shall be entitled to
assume the defense thereof (which shall include, without limitation, the
conduct of any ruling request and closing agreement or
30
other settlement proceeding with the Internal Revenue Service), with counsel
approved by the Indemnified Party named in the action, which approval shall
not be unreasonably withheld. After notice from Adviser or Distributor to
such Indemnified Party of their election to assume the defense thereof, the
Indemnified Party will cooperate fully with Adviser and Distributor and shall
bear the fees and expenses of any additional counsel retained by it, and
Adviser and Distributor will not be liable to such Indemnified Party under
this Agreement for any legal or other expenses subsequently incurred by such
Indemnified Party independently in connection with the defense thereof, other
than reasonable costs of investigation.
13.3 EFFECT OF NOTICE.
Any notice given by the indemnifying Party to an Indemnified Party
referred to in Section 13.1(c) or 13.2(e) above of participation in or control
of any action by the indemnifying Party will in no event be deemed to be an
admission by the indemnifying Party of liability, culpability or responsibility,
and the indemnifying Party will remain free to contest liability with respect to
the claim among the Parties or otherwise.
SECTION 13. APPLICABLE LAW
This Agreement will be construed and the provisions hereof interpreted
under and in accordance with New York law, without regard for that state's
principles of conflict of laws.
SECTION 14. EXECUTION IN COUNTERPARTS
This Agreement may be executed simultaneously in two or more
counterparts, each of which taken together will constitute one and the same
instrument.
31
SECTION 15. SEVERABILITY
If any provision of this Agreement is held or made invalid by a court
decision, statute, rule or otherwise, the remainder of this Agreement will not
be affected thereby.
SECTION 16. RIGHTS CUMULATIVE
The rights, remedies and obligations contained in this Agreement are
cumulative and are in addition to any and all rights, remedies and obligations,
at law or in equity, that the Parties are entitled to under federal and state
laws.
SECTION 17. RESTRICTIONS ON SALES OF FUND SHARES
Insurer agrees that the Fund will be permitted (subject to the other
terms of this Agreement) to make its shares available to separate accounts of
other life insurance companies.
SECTION 18. HEADINGS
The Table of Contents and headings used in this Agreement are for
purposes of reference only and shall not limit or define the meaning of the
provisions of this Agreement.
32
IN WITNESS WHEREOF, the Parties have caused this Agreement to be
executed in their names and on their behalf by and through their duly
authorized officers signing below.
LINCOLN LIFE & ANNUITY COMPANY
OF NEW YORK
By: /s/ Xxxx X. Xxxxxxx
-------------------------------------
Name: Xxxx X. Xxxxxxx
Title: Second Vice President/CFO
LINCOLN FINANCIAL ADIVSORS CORPORATION
By: /s/ Xxxxxxx X. Xxxxxx
-------------------------------------
Name: Xxxxxxx X. Xxxxxx
Title: Second Vice President
ALLIANCE CAPITAL MANAGEMENT L.P.
By: Alliance Capital Management
Corporation, its General Partner
By: /s/ Xxxx X Xxxxxx
-------------------------------------
Name: Xxxx X Xxxxxx
Title: President & COO
ALLIANCE FUND DISTRIBUTORS, INC.
By: /s/ Xxxxxxx X. Xxxxx
-------------------------------------
Name: Xxxxxxx X. Xxxxx
Title: Managing Director and
Senior Vice President
33
SCHEDULE A
Portfolios of the Fund made available under this Agreement:
Premier Growth Portfolio
Growth and Income Portfolio
Growth Portfolio
Technology Portfolio
34
SCHEDULE B
Insurer Contracts to which the Portfolios of the Fund are made available under
this Agreement:
Lincoln New York Choice Plus Variable Annuity
Group Variable Annuity
(GVA) I, II, & III
35
AMENDMENT TO
PARTICIPATION AGREEMENT
THIS AGREEMENT, made and entered into as of July 15, 2000
("Agreement"), by and among Lincoln Life & Annuity Company of New York, a New
York life insurance company ("Insurer"), Lincoln Financial Advisors Corporation,
an Indiana corporation ("Contracts Distributor"), Alliance Capital Management
L.P., a Delaware limited partnership ("Adviser"), the investment adviser of the
Fund referred to below; and Alliance Fund Distributors, Inc., a Delaware
corporation ("Distributor"), the Fund's principal underwriter (collectively, the
"Parties"),
WITNESSETH THAT:
WHEREAS the Insurer, the Contracts Distributor, the Distributor, and
the Adviser have entered into a Participation Agreement, dated as of May 1,
2000, whereby Class B shares of the Premier Growth Portfolio, the Growth and
Income Portfolio, the Growth Portfolio, and the Technology Portfolio (the
"Portfolios") of Alliance Variable Products Series Fund, Inc. (the "Fund"), as
listed in Schedule A of the Participation Agreement, as may be amended from time
to time, are made available by Distributor to serve as underlying investment
media for variable annuity contracts and variable life insurance policies issued
by Insurer listed in Schedule B of the Participation Agreement, as may be
amended from time to time to be offered through Contracts Distributor; and
WHEREAS, the Parties now desire to amend the Participation Agreement to
make shares of the Portfolios of the Fund available by Distributor to serve as
underlying investment media for variable annuity contracts and variable life
insurance policies issued by Insurer to be offered through Contracts Distributor
listed in Schedule B ("Amendment to Schedule B").
NOW, THEREFORE, in consideration of the mutual benefits and promises
contained herein, the Parties hereby amend the Participation Agreement as
reflected in the attached Amendment to Schedule B.
IN WITNESS WHEREOF, the Parties have caused this Agreement to be
executed in their names and on their behalf by and through their duly
authorized officers signing below.
LINCOLN LIFE & ANNUITY COMPANY
OF NEW YORK
By: /s/ Xxxx X. Xxxxxxx
-------------------------------------
Name: Xxxx X. Xxxxxxx
Title: CFO/Second Vice President
LINCOLN FINANCIAL ADIVSORS CORPORATION
By: /s/ Xxxxxxx X. Xxxxxx
-------------------------------------
Name: Xxxxxxx X. Xxxxxx
Title: Second Vice President
ALLIANCE CAPITAL MANAGEMENT L.P.
By: Alliance Capital Management
Corporation, its General Partner
By: /s/ Xxxxxx X. Xxxxxx, Xx.
-------------------------------------
Name: Xxxxxx X. Xxxxxx, Xx.
Title: General Counsel
ALLIANCE FUND DISTRIBUTORS, INC.
By: /s/ Xxxxxxx X. Xxxxx
-------------------------------------
Name: Xxxxxxx X. Xxxxx
Title: Managing Director and
Senior Vice President
AMENDMENT TO
SCHEDULE B
AS OF JULY 15, 2000
Insurer Contracts to which the Portfolios of the Fund are made available under
this Agreement:
Lincoln ChoicePlus Variable Annuity
Group Variable Annuity (GVA) I, II, III
Lincoln ChoicePlus Access Variable Annuity
AMENDMENT TO
PARTICIPATION AGREEMENT
THIS AGREEMENT, made and entered into as of July 15, 2001 ("Agreement"),
by and among Lincoln Life & Annuity Company of New York, a New York life
insurance company ("Insurer"), Lincoln Financial Advisors Corporation, an
Indiana corporation ("Contracts Distributor"), Alliance Capital Management L.P.,
a Delaware limited partnership ("Adviser"), the investment adviser of the Fund
referred to below; and Alliance Fund Distributors, Inc., a Delaware corporation
("Distributor"), the Fund's principal underwriter (collectively, the "Parties"),
WITNESSETH THAT:
WHEREAS the Insurer, the Contracts Distributor, the Distributor, and the
Adviser have entered into a Participation Agreement, dated as of May 1, 2000,
whereby Class B shares of certain portfolios (the "Portfolios") of Alliance
Variable Products Series Fund, Inc. (the "Fund"), as listed in Schedule A of the
Participation Agreement, as may be amended from time to time, are made available
by Distributor to serve as underlying investment media for variable annuity
contracts and variable life insurance policies issued by Insurer listed in
Schedule B of the Participation Agreement, as may be amended from time to time
to be offered through Contracts Distributor; and
WHEREAS, the Parties now desire to amend the Participation Agreement to
make shares of the Small Cap Value Portfolio of the Fund, as indicated in
Schedule A ("Amended Schedule A") available to serve as underlying investment
media for variable annuity contracts and variable life insurance policies issued
by Insurer; and
WHEREAS, the Parties now desire to amend the Participation Agreement to
make shares of the Portfolios of the Fund available by Distributor to serve as
underlying investment media for
variable annuity contracts and variable life insurance policies issued by
Insurer to be offered through Contracts Distributor listed in Schedule B
("Amendment to Schedule B").
NOW, THEREFORE, in consideration of the mutual benefits and promises
contained herein, the Parties hereby amend the Participation Agreement as
reflected in the attached Amendment to Schedule A and Amendment to Schedule B.
IN WITNESS WHEREOF, the Parties have caused this Agreement to be executed
in their names and on their behalf by and through their duly authorized officers
signing below.
LINCOLN LIFE & ANNUITY COMPANY
OF NEW YORK
By: /s/ Xxxxxx X. Xxxxxxx
Name: Xxxxxx X. Xxxxxxx
Title: Second Vice President
LINCOLN FINANCIAL ADVISORS CORPORATION
By: /s/ Xxxx X. Xxxx
Name: Xxxx X. Xxxx
Title: Vice President and Assistant
Secretary
ALLIANCE CAPITAL MANAGEMENT L.P.
By: Alliance Capital Management Corporation,
its General Partner
By: /s/ Xxxxxx X. Xxxxxx, Xx.
Name: Xxxxxx X. Xxxxxx, Xx.
Title: Vice President and Assistant
General Counsel
ALLIANCE FUND DISTRIBUTORS, INC.
By: /s/ Xxxxxxx X. Xxxxx
Name: Xxxxxxx X. Xxxxx
Title: Managing Director and Sr. Vice
President
AMENDMENT TO
SCHEDULE A
AS OF JULY 15, 2001
Portfolios of the Fund made available under this Agreement:
Premier Growth Portfolio
Growth and Income Portfolio
Growth Portfolio
Technology Portfolio
AllianceBernstein Small Cap Value Portfolio
AMENDMENT TO
SCHEDULE B
AS OF JULY 15, 2001
Insurer Contracts to which the Portfolios of the Fund are made available under
this Agreement:
Lincoln ChoicePlus Variable Annuity
Group Variable Annuity (GVA) I, II, & III
Lincoln ChoicePlus Access Variable Annuity
Lincoln ChoicePlus II Variable Annuity
Lincoln ChoicePlus II Access Variable Annuity
Lincoln ChoicePlus II Advance Variable Annuity
Lincoln VUL
Lincoln VUL(CV)
Money Guard
Lincoln SVUL
Lincoln SVUL II
CVUL III
AMENDMENT TO
PARTICIPATION AGREEMENT
THIS AGREEMENT, made and entered into as of May 1, 2003 ("Agreement"), by
and among Lincoln Life & Annuity Company of New York, a New York life
insurance company ("Insurer"), Lincoln Financial Advisors Corporation, an
Indiana corporation ("Contracts Distributor"), Alliance Capital Management
L.P., a Delaware limited partnership ("Adviser"), the investment adviser of
the Fund referred to below; and AllianceBernstein Investment Research and
Management, Inc. (formerly Alliance Fund Distributors, Inc.), a Delaware
corporation ("Distributor"), the Fund's principal underwriter (collectively,
the "Parties"),
WITNESSETH THAT:
WHEREAS the Insurer, the Contracts Distributor, the Distributor, and the
Adviser have entered into a Participation Agreement, dated as of May 1, 2000,
whereby Class B shares of certain portfolios (the "Portfolios") of
AllianceBernstein Variable Products Series Fund, Inc. (formerly Alliance
Variable Products Series Fund, Inc.) (the "Fund"), as listed in Schedule A of
the Participation Agreement, as may be amended from time to time, are made
available by Distributor to serve as underlying investment media for variable
annuity contracts and variable life insurance policies issued by Insurer
listed in Schedule B of the Participation Agreement, as may be amended from
time to time to be offered through Contracts Distributor; and
WHEREAS, the Parties now desire to amend the Participation Agreement to
make shares of the Portfolios of the Fund available by Distributor to serve
as underlying investment media for variable annuity contracts and variable
life insurance policies issued by Insurer listed in Schedule B ("Amendment to
Schedule B").
NOW, THEREFORE, in consideration of the mutual benefits and promises
contained herein, the Parties hereby amend the Participation Agreement as
reflected in the attached Amendment to Schedule B.
IN WITNESS WHEREOF, the Parties have caused this Agreement to be executed
in their names and on their behalf by and through their duly authorized
officers signing below.
LINCOLN LIFE & ANNUITY COMPANY
OF NEW YORK
By: /s/ Rise X. X. Xxxxxx
Name: Rise X. X. Xxxxxx
Title: Second Vice President
LINCOLN FINANCIAL ADVISORS CORPORATION
By: /s/ Xxxx X. Xxxx
Name: Xxxx X. Xxxx
Title: Vice President
ALLIANCE CAPITAL MANAGEMENT L.P.
By: Alliance Capital Management
Corporation, its General Partner
By: /s/ Xxxxxx X. Xxxxxx, Xx.
Name: Xxxxxx X. Xxxxxx, Xx.
Title: Vice President and Assistant
General Counsel
ALLIANCEBERNSTEIN INVESTMENT RESEARCH
AND MANAGEMENT, INC.
By: /s/ Xxxxxxx X. Xxxxx
Name: Xxxxxxx X. Xxxxx
Title: Managing Director and Sr. Vice
President
AMENDMENT TO
SCHEDULE B
AS OF MAY 1, 2003
Insurer Contracts to which the Portfolios of the Fund are made available
under this Agreement:
Lincoln ChoicePlus Variable Annuity
Group Variable Annuity (GVA) I, II, & III
Lincoln ChoicePlus Access Variable Annuity
Lincoln ChoicePlus II Variable Annuity
Lincoln ChoicePlus II Access Variable Annuity
Lincoln ChoicePlus II Advance Variable Annuity
Lincoln ChoicePlus II Bonus Variable Annuity
Lincoln ChoicePlus Assurance (B Share)
Lincoln ChoicePlus Assurance (C Share)
Lincoln ChoicePlus Assurance (L Share)
Lincoln ChoicePlus Assurance (Bonus)
LVUL(CV)
LVUL(CVII)
LVUL(CVIII)
LVUL(DB)
LVUL(DBII)
LSVUL
LSVUL II
LSVUL III
LCVUL III
AMENDMENT TO
PARTICIPATION AGREEMENT
THIS AGREEMENT, effective as of May 1, 2004 ("Agreement"), is hereby
amended and restated as of July 1, 2005, by and among Lincoln Life & Annuity
Company of New York, a New York life insurance company ("Insurer"), Lincoln
Financial Advisors Corporation, an Indiana corporation ("Contracts
Distributor"), (together, Insurer and Contracts Distributor, the "Company"),
Alliance Capital Management L.P., a Delaware limited partnership ("Adviser"),
the investment adviser of the Fund referred to below; and AllianceBernstein
Investment Research and Management, Inc. (formerly Alliance Fund Distributors,
Inc.), a Delaware corporation ("Distributor"), the Fund's principal underwriter
(collectively, the "Parties"),
WITNESSETH THAT:
WHEREAS the Insurer, the Contracts Distributor, the Distributor, and the
Adviser have entered into a Participation Agreement, dated as of May 1, 2000,
whereby shares of certain portfolios (the "Portfolios") of AllianceBernstein
Variable Products Series Fund, Inc. (formerly Alliance Variable Products Series
Fund, Inc.) (the "Fund"), as listed in Schedule A of the Participation
Agreement, as may be amended from time to time, are made available by
Distributor to serve as underlying investment media for variable annuity
contracts and variable life insurance policies issued by Insurer listed in
Schedule B of the Participation Agreement, as may be amended from time to time
to be offered through Contracts Distributor; and
WHEREAS, the Parties now desire to amend the Participation Agreement as
follows:
1. The following is added under Section 4. Legal and Compliance:
SECTION 4.7 MARKET TIMING
The Company has adopted its own Market Timing policies and procedures and
will apply these policies and procedures consistently to all contractowners.
The Company will also investigate any patterns of trading behavior
identified by the Fund. As permitted by law, the
Company agrees to cooperate fully with the Distributor for the purpose of
preventing market timing, and will upon request furnish the Distributor such
information as Distributor may consider necessary or desirable to review the
possible existence and extent of market timing by any contractowner. Once
Market Timing has been identified within a contract under the Company's
Market Timing Procedures, or if the Distributor so determines based on its
review of the information provided by the Company, we will impose
restrictions on the contractowner's ability to make future transfers.
2. Class A shares of the Portfolios of the Fund, as listed in Schedule A
("Amendment to Schedule A") of the Participation Agreement, were made
available as of July 15, 2001, to serve as underlying investment media
for variable annuity contracts and variable life insurance policies
issued by Insurer, and are governed by the terms and conditions of the
Participation Agreement (with the exception of Section 9);
3. Shares of the Portfolios of the Fund are made available by Distributor
to serve as underlying investment media for variable annuity contracts
and variable life insurance policies issued by Insurer listed in
Schedule B ("Amendment to Schedule B").
NOW, THEREFORE, in consideration of the mutual benefits and promises
contained herein, the Parties hereby amend the Participation Agreement as
reflected herein and in the attached Amendment to Schedule A and Amendment to
Schedule B.
IN WITNESS WHEREOF, the Parties have caused this Agreement to be
executed in their names and on their behalf by and through their duly authorized
officers signing below.
LINCOLN LIFE & ANNUITY COMPANY OF NEW YORK
By: /s/ Rise X. X. Xxxxxx
---------------------
Name: Rise X. X. Xxxxxx
Title: Second Vice President
LINCOLN FINANCIAL ADVISORS CORPORATION
By: /s/ Xxxx X. Xxxx
----------------
Name: Xxxx X. Xxxx
Title: Vice President
ALLIANCE CAPITAL MANAGEMENT L.P.
By: Alliance Capital Management Corporation,
its General Partner
By: /s/ Xxxx X. Xxxxx
-----------------
Name: Xxxx X. Xxxxx
Title: Executive Vice President
ALLIANCEBERNSTEIN INVESTMENT RESEARCH AND
MANAGEMENT, INC.
By: /s/ Xxxxxxx Xxxxxxx
-------------------
Name: Xxxxxxx Xxxxxxx
Title: Senior Vice President
AMENDMENT TO
SCHEDULE A
AS OF MAY 1, 2004
Portfolios of the Fund made available under this Agreement:
CLASS A SHARES
Premier Growth Portfolio
Growth and Income Portfolio
Growth Portfolio
Technology Portfolio
AllianceBernstein Small Cap Value Portfolio
CLASS B SHARES
Premier Growth Portfolio
Growth and Income Portfolio
Growth Portfolio
Technology Portfolio
AllianceBernstein Small Cap Value Portfolio
AMENDMENT TO
SCHEDULE B
AS OF MAY 1, 2004
Insurer Contracts to which the Portfolios of the Fund are made available under
this Agreement:
Group Variable Annuity (GVA) I, II, & III
Lincoln ChoicePlus Variable Annuity
Lincoln ChoicePlus Access Variable Annuity
Lincoln ChoicePlus II Variable Annuity
Lincoln ChoicePlus II Access Variable Annuity
Lincoln ChoicePlus II Advance Variable Annuity
Lincoln ChoicePlus II Bonus Variable Annuity
Lincoln ChoicePlus Assurance (B Share)
Lincoln ChoicePlus Assurance (C Share)
Lincoln ChoicePlus Assurance (L Share)
Lincoln ChoicePlus Assurance (Bonus)
VUL(ONE)
Momentum VUL(ONE)
VUL(CV)
VUL(CV) II
VUL(CV) III
VUL(CV) IV
VUL(DB)
VUL(DB) II
VUL(DB) IV
SVUL
SVUL II
SVUL III
SVUL IV
CVUL III
Director(TM)
AMENDMENT TO
PARTICIPATION AGREEMENT
THIS AGREEMENT, effective as of May 1, 2005 ("Agreement"), is hereby
amended and restated as of July 1, 2005, by and among Lincoln Life & Annuity
Company of New York, a New York life insurance company ("Insurer"), Lincoln
Financial Advisors Corporation, an Indiana corporation ("Contracts
Distributor"), (together, Insurer and Contracts Distributor, the "Company"),
Alliance Capital Management L.P., a Delaware limited partnership ("Adviser"),
the investment adviser of the Fund referred to below; and AllianceBernstein
Investment Research and Management, Inc. (formerly Alliance Fund Distributors,
Inc.), a Delaware corporation ("Distributor"), the Fund's principal underwriter
(collectively, the "Parties"),
WITNESSETH THAT:
WHEREAS the Insurer, the Contracts Distributor, the Distributor, and the
Adviser have entered into a Participation Agreement, dated as of May 1, 2000,
whereby shares of certain portfolios (the "Portfolios") of AllianceBernstein
Variable Products Series Fund, Inc. (formerly Alliance Variable Products Series
Fund, Inc.) (the "Fund"), as listed in Schedule A of the Participation
Agreement, as may be amended from time to time, are made available by
Distributor to serve as underlying investment media for variable annuity
contracts and variable life insurance policies issued by Insurer listed in
Schedule B of the Participation Agreement, as may be amended from time to time
to be offered through Contracts Distributor; and
WHEREAS, the Parties now desire to amend the Participation Agreement as
follows:
1. The following is added under Section 4. Legal and Compliance:
SECTION 4.7 MARKET TIMING
The Company has adopted its own Market Timing policies and procedures
and will apply these policies and procedures consistently to all
contractowners. The Company will also investigate any patterns of
trading behavior identified by the Fund. As permitted by law,
the Company agrees to cooperate fully with the Distributor for the
purpose of preventing market timing, and will upon request furnish the
Distributor such information as Distributor may consider necessary or
desirable to review the possible existence and extent of market timing
by any contractowner. Once Market Timing has been identified within a
contract under the Company's Market Timing Procedures, or if the
Distributor so determines based on its review of the information
provided by the Company, we will impose restrictions on the
contractowner's ability to make future transfers.
2. To change the names of certain portfolios, as indicated in Schedule A
("Amendment to Schedule A") that serve as underlying investment media
for variable annuity contracts and variable life insurance policies
issued by Insurer; and
3. To make shares of the Portfolios of the Fund available by Distributor to
serve as underlying investment media for variable annuity contracts and
variable life insurance policies issued by Insurer listed in Schedule B
("Amendment to Schedule B").
NOW, THEREFORE, in consideration of the mutual benefits and promises
contained herein, the Parties hereby amend the Participation Agreement as
reflected herein and in the attached Amendment to Schedule A and Amendment to
Schedule B.
IN WITNESS WHEREOF, the Parties have caused this Agreement to be
executed in their names and on their behalf by and through their duly authorized
officers signing below.
LINCOLN LIFE & ANNUITY COMPANY OF NEW YORK
By: /s/ Rise X. X. Xxxxxx
---------------------
Name: Rise X. X. Xxxxxx
Title: Second Vice President
LINCOLN FINANCIAL ADVISORS CORPORATION
By: /s/ Xxxx X. Xxxx
----------------
Name: Xxxx X. Xxxx
Title: Vice President
ALLIANCE CAPITAL MANAGEMENT L.P.
By: Alliance Capital Management Corporation,
its General Partner
By: /s/ Xxxx X. Xxxxx
-----------------
Name: Xxxx X. Xxxxx
Title: Executive Vice President
ALLIANCEBERNSTEIN INVESTMENT RESEARCH AND
MANAGEMENT, INC.
By: /s/ Xxxxxxx Xxxxxxx
-------------------
Name: Xxxxxxx Xxxxxxx
Title: Senior Vice President
AMENDMENT TO
SCHEDULE A
AS OF MAY 1, 2005
Portfolios of the Fund made available under this Agreement:
CLASS A SHARES
Large Cap Growth Portfolio
Growth and Income Portfolio
Growth Portfolio
Global Technology Portfolio
Small/Mid Cap Value Portfolio
CLASS B SHARES
Large Cap Growth Portfolio
Growth and Income Portfolio
Growth Portfolio
Global Technology Portfolio
Small/Mid Cap Value Portfolio
AMENDMENT TO
SCHEDULE B
AS OF MAY 1, 2005
Insurer Contracts to which the Portfolios of the Fund are made available under
this Agreement:
Group Variable Annuity (GVA) I, II, & III
ChoicePlus Variable Annuity
ChoicePlus Access Variable Annuity
ChoicePlus II Variable Annuity
ChoicePlus II Access Variable Annuity
ChoicePlus II Advance Variable Annuity
ChoicePlus II Bonus Variable Annuity
ChoicePlus Assurance (B Share)
ChoicePlus Assurance (C Share)
ChoicePlus Assurance (L Share)
ChoicePlus Assurance (Bonus)
ChoicePlus Momentum Income Option
VULONE
VULONE 2005
Momentum VULONE
Momentum VULONE2005
VUL(CV)
VUL(CV) II
VULFlex
VUL(CV) III
VUL(CV) IV
VUL(DB)
VUL(DB) II
VUL(DB) IV
SVUL
SVUL II
SVUL III
SVUL IV
CVUL III
LCV4
Director(TM)
AMENDMENT TO
PARTICIPATION AGREEMENT
THIS AGREEMENT, effective as of May 1, 2005 ("Agreement"), as amended and
restated as of July 1, 2005, is hereby amended and restated as of May 1, 2006,
by and among Lincoln Life & Annuity Company of New York, a New York life
insurance company ("Insurer"), Lincoln Financial Advisors Corporation, an
Indiana corporation ("Contracts Distributor"), (together, Insurer and Contracts
Distributor, the "Company"), AllianceBernstein L.P. (formerly Alliance Capital
Management L.P.), a Delaware limited partnership ("Adviser"), the investment
adviser of the Fund referred to below; and AllianceBernstein Investments, Inc.,
(formerly AllianceBernstein Investment Research and Management, Inc.), a
Delaware corporation ("Distributor"), the Fund's principal underwriter
(collectively, the "Parties"),
WITNESSETH THAT:
WHEREAS, the Parties now desire to amend the Participation Agreement as
follows:
1. To make shares of the Portfolios of the Funds listed in Schedule A
available by Distributor to serve as underlying investment media for
variable annuity contracts and variable life insurance policies issued
by Insurer listed in Schedule B ("Amendment to Schedules A and B").
NOW, THEREFORE, in consideration of the mutual benefits and promises
contained herein, the Parties hereby amend the Participation Agreement as
reflected herein and in the attached Amendment to Schedules A and B.
IN WITNESS WHEREOF, the Parties have caused this Agreement to be executed
in their names and on their behalf by and through their duly authorized officers
signing below.
LINCOLN LIFE & ANNUITY COMPANY OF NEW
YORK
By: /s/ Xxxxx X. Xxxxxxxxx
------------------------------------
Name: Xxxxx X. Xxxxxxxxx
Title: Second Vice President
LINCOLN FINANCIAL ADVISORS CORPORATION
By: /s/ Xxxx X. Xxxx
------------------------------------
Name: Xxxx X. Xxxx
Title: Vice President
ALLIANCEBERNSTEIN L.P.
By: /s/ Xxxx X. Xxxxx
------------------------------------
Name: Xxxx X. Xxxxx
Title: Executive VP
ALLIANCEBERNSTEIN L.P.
By: /s/ Xxxx Xxxxxx
------------------------------------
Name: Xxxx Xxxxxx
Title: Secretary
ALLIANCEBERNSTEIN INVESTMENTS, INC.
By: /s/ Xxxxxx Xxxxxxx
------------------------------------
Name: Xxxxxx Xxxxxxx
Title: Managing Director
AMENDMENT TO
SCHEDULE A
AS OF MAY 1, 2006
Portfolios of the Fund made available under this Agreement:
CLASS A SHARES
Large Cap Growth Portfolio
Growth and Income Portfolio
Growth Portfolio
Global Technology Portfolio
Small/Mid Cap Value Portfolio
International Value Portfolio
CLASS B SHARES
Large Cap Growth Portfolio
Growth and Income Portfolio
Growth Portfolio
Global Technology Portfolio
Small/Mid Cap Value Portfolio
International Value Portfolio
AMENDMENT TO
SCHEDULE B
AS OF MAY 1, 2006
Insurer Contracts to which the Portfolios of the Fund are made available under
this Agreement:
Group Variable Annuity (GVA) I, II, & III
ChoicePlus Variable Annuity
ChoicePlus Access Variable Annuity
ChoicePlus II Variable Annuity
ChoicePlus II Access Variable Annuity
ChoicePlus II Advance Variable Annuity
ChoicePlus II Bonus Variable Annuity
ChoicePlus Assurance (B Share)
ChoicePlus Assurance (C Share)
ChoicePlus Assurance (L Share)
ChoicePlus Assurance (Bonus)
ChoicePlus Momentum Income Option
VULONE
VULONE 2005
Momentum VULONE
Momentum VULONE2005
Momentum SVULONE
VUL(CV)
VUL(CV) II
VULFlex
VUL(CV) III
VUL(CV) IV
VUL(DB)
VUL(DB) II
VUL(DB) IV
SVUL
SVUL II
SVUL III
SVULONE
SVUL IV
CVUL III
LCV4
LCV5
Director(TM)
AMENDMENT TO
PARTICIPATION AGREEMENT
THIS AGREEMENT, effective as of May 1, 2005 ("Agreement"), as amended and
restated as of July 1, 2005 and May 1, 2006, is hereby amended and restated as
of October 1, 2006, by and among Lincoln Life & Annuity Company of New York, a
New York life insurance company ("Insurer"), Lincoln Financial Advisors
Corporation, an Indiana corporation ("Contracts Distributor"), (together,
Insurer and Contracts Distributor, the "Company"), AllianceBernstein L.P.
(formerly Alliance Capital Management L.P.), a Delaware limited partnership
("Adviser"), the investment adviser of the Fund referred to below; and
AllianceBernstein Investments, Inc., (formerly AllianceBernstein Investment
Research and Management, Inc.), a Delaware corporation ("Distributor"), the
Fund's principal underwriter (collectively, the "Parties"),
WITNESSETH THAT:
WHEREAS, the Parties now desire to amend the Participation Agreement as
follows:
1. To make shares of the Portfolios of the Funds made available by
Distributor to serve as underlying investment media for variable
annuity contracts and variable life insurance policies issued by
Insurer listed in Schedule B ("Amendment to Schedule B").
NOW, THEREFORE, in consideration of the mutual benefits and promises
contained herein, the Parties hereby amend the Participation Agreement as
reflected herein and in the attached Amendment to Schedule B.
IN WITNESS WHEREOF, the Parties have caused this Agreement to be executed
in their names and on their behalf by and through their duly authorized officers
signing below.
LINCOLN LIFE & ANNUITY COMPANY OF NEW
YORK
By: /s/ Xxxxx X. Xxxxxxxxx
------------------------------------
Name: Xxxxx X. Xxxxxxxxx
Title: Second Vice President
LINCOLN FINANCIAL ADVISORS CORPORATION
By: /s/ Xxxx X. Xxxx
------------------------------------
Name: Xxxx X. Xxxx
Title: Vice President
ALLIANCEBERNSTEIN L.P.
By: /s/ Xxxx Xxxxx
------------------------------------
Name: Xxxx Xxxxx
Title: Executive Vice President
ALLIANCEBERNSTEIN L.P.
By: /s/ Xxxx Xxxxxx
------------------------------------
Name: Xxxx Xxxxxx
Title: Secretary
ALLIANCEBERNSTEIN INVESTMENTS, INC.
By: /s/ Xxxxxxx Xxxxxxx
------------------------------------
Name: Xxxxxxx Xxxxxxx
Title: Managing Director
AMENDMENT TO
SCHEDULE B
AS OF OCTOBER 1, 2006
Insurer Contracts to which the Portfolios of the Fund are made available under
this Agreement:
Group Variable Annuity (GVA) I, II, & III
ChoicePlus Variable Annuity
ChoicePlus Access Variable Annuity
ChoicePlus II Variable Annuity
ChoicePlus II Access Variable Annuity
ChoicePlus II Advance Variable Annuity
ChoicePlus II Bonus Variable Annuity
ChoicePlus Assurance (A Share)
ChoicePlus Assurance (B Share)
ChoicePlus Assurance (C Share)
ChoicePlus Assurance (L Share)
ChoicePlus Assurance (Bonus)
ChoicePlus Momentum Income Option
ChoicePlus Design
VULONE
VULONE 2005
Momentum VULONE
Momentum VULONE2005
Momentum SVULONE
VUL(CV)
VUL(CV) II
VULFlex
VUL(CV) III
VUL(CV) IV
VUL(DB)
VUL(DB) II
VUL(DB) IV
SVUL
SVUL II
SVUL III
SVULONE
SVUL IV
CVUL III
LCV4
LCV5
Director(TM)
Lincoln Corporate Private Solution
AMENDMENT TO
PARTICIPATION AGREEMENT
THIS AGREEMENT, effective as of May 1, 2005 ("Agreement"), as amended and
restated as of July 1, 2005, May 1, 2006, and October 1, 2006, is hereby
amended and restated as of April 1, 2007, by and among Lincoln Life & Annuity
Company of New York, a New York life insurance company ("Insurer"), Lincoln
Financial Advisors Corporation, an Indiana corporation ("Contracts
Distributor"), (together, Insurer and Contracts Distributor, the "Company"),
AllianceBernstein L.P. (formerly Alliance Capital Management L.P.), a
Delaware limited partnership ("Adviser"), the investment adviser of the Fund
referred to below; and AllianceBernstein Investments, Inc., (formerly
AllianceBernstein Investment Research and Management, Inc.), a Delaware
corporation ("Distributor"), the Fund's principal underwriter (collectively,
the "Parties"),
WITNESSETH THAT:
WHEREAS, a merger of Lincoln Life & Annuity Company of New York and
Jefferson Pilot LifeAmerica Insurance Company ("JPLA") is expected to occur
on or about April 2, 2007;
WHEREAS, effective on or about Xxxxx 0, 0000, XXXX will change its state
of domicile from New Jersey to New York and will change its name to Lincoln
Life & Annuity Company of New York;
WHEREAS, the Contracts Distributor for Lincoln Life & Annuity Company of
New York may be either Lincoln Financial Advisors Corporation ("LFA") or
Lincoln Financial Distributors ("LFD"), a broker-dealer;
NOW, THEREFORE, for good and valuable consideration, the receipt and
sufficiency of which is hereby acknowledged, the parties agree to amend the
Agreement as follows:
1. The parties consent to an assignment of the responsibilities of the
former Lincoln Life & Annuity Company of New York under this Agreement
to the new Lincoln Life & Annuity Company of New York.
2. The parties consent to an assignment of the responsibilities of LFA
under this Agreement to LFD.
Each of the parties has caused this Amendment to be executed in its name
and on behalf of its duly authorized officer on the date specified below.
LINCOLN LIFE & ANNUITY COMPANY OF NEW YORK
By: /s/ Xxxxx X. Xxxxxxxxx
---------------------------
Name: Xxxxx X. Xxxxxxxxx
Title: Second Vice President
LINCOLN FINANCIAL DISTRIBUTORS, INC.
By: /s/ Xxxxx X. Xxxx
---------------------------
Name: Xxxxx X. Xxxx
Title: SVP, Head of Relationship Mgmt.
ALLIANCEBERNSTEIN L.P.
By: /s/ Xxxx Xxxxx
---------------------------
Name: Xxxx X. Xxxxx
Title: Executive Vice President
ALLIANCEBERNSTEIN INVESTMENTS, INC.
By: /s/ Xxxxxxx X. Xxxxxxx
---------------------------
Name: Xxxxxxx X. Xxxxxxx
Title: Managing Director
AMENDMENT TO
PARTICIPATION AGREEMENT
THIS PARTICIPATION AGREEMENT AMENDMENT is made and entered into as of
April 16, 2007 by and among Lincoln Life & Annuity Company of New York
("Insurer"), AllianceBernstein L.P. ("Adviser" formerly known as Alliance
Capital Management L.P.) and AllianceBernstein Investments, Inc.
("Distributor" formerly known as AllianceBernstein Investment Research and
Management, Inc.).
WHEREAS, the parties have entered into a Participation Agreement dated
as of May 01, 2000 (the "Agreement"); and
WHEREAS, the parties now desire to amend that Agreement to incorporate
specific provisions required by SEC Rule 22c-2 under the Investment Company
Act of 1940.
NOW, THEREFORE, in consideration of the mutual benefits and promises
contained herein, the parties hereby amend the Agreement by adding a new
Section 4.7 after Section 4.6 to read as follows:
4.7 SHAREHOLDER INFORMATION
(a) AGREEMENT TO PROVIDE INFORMATION. The Insurer agrees to provide
the Distributor upon written request, the taxpayer identification number
("TIN"), the Individual/International Taxpayer Identification Number
("ITIN"), or other government-issued identifier ("GII") and the Contract
owner number or participant account number associated with the Shareholder,
if known, of any or all Shareholder(s) of the account and the amount, date,
name or other identifier of any investment professional(s) associated with
the Shareholder(s) or account (if known), and transaction type (purchase,
redemption, transfer, or exchange) of every purchase, redemption, transfer,
or exchange of Shares held through an account maintained by the Insurer
during the period covered by the request.
(1) PERIOD COVERED BY REQUEST. Requests must set forth a specific
period, not to exceed 90 days from the date of the request, for which
transaction information is sought. The Distributor may request transaction
information older than 90 days from the date of the request as it deems
necessary to investigate compliance with policies established by the Fund for
purpose of eliminating or reducing any dilution of the value of the
outstanding shares issued by the Fund.
(2) FORM AND TIMING OF RESPONSE. Insurer agrees to provide promptly
upon request of the Distributor or its designee, but in any event not later
than 10 business days after receipt of a request, the requested information.
If requested by the Distributor or its designee, Insurer agrees to determine
promptly whether any specific person about whom it has received the
identification and transaction information specified in (a) is itself a
financial intermediary ("indirect intermediary") and, upon further request of
the Distributor or its designee, promptly either (i) provide (or arrange to
have provided) the information set forth in (a) for those shareholders who
hold an account with an indirect intermediary or (ii) restrict or prohibit
the
indirect intermediary from purchasing, in nominee name on behalf of other
persons, securities issued by the Fund.
In such instance, the Insurer agrees to inform the Distributor whether it
plans to perform (i) or (ii). Responses required by this paragraph must be
communicated in writing and in a format mutually agreed upon by the parties.
To the extent practicable, the format for any transaction information
provided to the Distributor should be consistent with the NSCC Standardized
Data Reporting Format. For purposes of this provision "indirect
intermediary" has the same meaning as in SEC Rule 22c-2 under the Investment
Company Act of 1940. Notwithstanding anything in this section to the
contrary, the Distributor acknowledges that the first request made under (2)
could take up to 30 business days if connectivity to the systems to share
such information specified in (a) have not been established prior to the date
that the first request made for the information specified in (a) is made.
(3) LIMITATIONS ON USE OF INFORMATION. The Distributor agrees not
to use the information received for marketing or any other similar purpose
without prior written consent of the Insurer.
(b) AGREEMENT TO RESTRICT TRADING. The Insurer agrees to execute
written instructions from the Distributor to restrict or prohibit further
purchase or exchanges of Shares by a Shareholder who has been identified by
the Distributor as having engaged in transactions of the Fund's Shares
(directly or indirectly through the Insurer's account) that violate policies
established by the Distributor for the purpose of eliminating or reducing any
dilution of the value of the outstanding Shares issued by the Fund.
(1) FORM OF INSTRUCTIONS. Instructions to restrict or prohibit
trading must include the TIN, ITIN, or GII, if known, and the specific
restriction(s) to be executed. If the TIN, ITIN, or GII is not known, the
instructions must include an equivalent identifying number of the
Shareholder(s) or account(s) or other agreed upon information to which the
instruction relates.
(2) TIMING OF RESPONSE. The Insurer agrees to execute instructions
to restrict or prohibit trading as soon as reasonably practicable, but not
later than ten business days after receipt of the instructions by the Insurer.
(3) CONFIRMATION BY THE INSURER. The Insurer must provide written
confirmation to the Distributor that instructions to restrict or prohibit
trading have been executed. The Insurer agrees to provide confirmation as
soon as reasonably practicable, but no later than ten business days after the
instructions have been executed.
(c) DEFINITIONS. For purposes of this Section:
(1) The term "Shares" means the interests of the Shareholders
corresponding to the redeemable securities of record issued by the Fund under
the Investment Company Act of 1940 that are held by the Insurer.
(2) The term "Shareholder" means the holder of interests in a
variable annuity or a variable life insurance contract issued by the Insurer,
or a participant in an employee benefit plan with a beneficial interest in a
contract.
(3) The term "written" includes electronic writings and facsimile
transmissions.
IN WITNESS WHEREOF, the undersigned have executed this
Participation Agreement Amendment as of the date set forth above.
LINCOLN LIFE & ANNUITY COMPANY ALLIANCEBERNSTEIN L.P.
OF NEW YORK
By: /s/ Xxxxx X. Xxxxxxxxx By: /s/ Xxxx Xxxxxx
--------------------------- --------------------------------
Name: Xxxxx X. Xxxxxxxxx Name: Xxxx Xxxxxx
Title: Second Vice President Title: Secretary
ALLIANCEBERNSTEIN INVESTMENTS, INC.
By: /s/ Xxxxxx X. Xxxxx
--------------------------------
Name: Xxxxxx X. Xxxxx
Title: Assistant Secretary
