ADDENDUM TO AGREEMENT(S)
This is an ADDENDUM, dated as of October 1, 2001, to the agreement(s)
(which may be administrative services, sales and services, bank agency, and/or
other services or sales agreement(s) (the "Agreement(s)") between you (or your
affiliate) (collectively, the "Company") and Xxxxxxxxx Xxxxxx Management Inc.
("NBMI") or any mutual funds for which NBMI is administrator (the "Funds").
WHEREAS, the Company and NBMI or the Funds are parties to the Agreement(s)
pursuant to which shares of the Funds are made available to clients of the
Company and the Company provides services to the Funds on behalf of NBMI with
respect to the clients.
WHEREAS, in December 2000 and February 2001, the Funds were reorganized
(the "Reorganization") from a two-tiered master-feeder structure to a
single-tiered multi-class structure, in which the investment companies that had
been known as "Xxxxxxxxx Xxxxxx Equity Trust," "Xxxxxxxxx Xxxxxx Income Trust,"
and "Xxxxxxxxx Xxxxxx Equity Assets" (collectively, the Old Trust") and their
series, such as "Xxxxxxxxx Xxxxxx Guardian Trust" or "Xxxxxxxxx Xxxxxx Partners
Assets" (each, a "feeder fund") were reorganized into the investment company
known as Xxxxxxxxx Xxxxxx Equity Funds (the "Trust") and the feeder funds became
part of the corresponding series of the Trust (each, a "Fund"); for example,
"Xxxxxxxxx Xxxxxx Guardian Trust" became part of "Xxxxxxxxx Xxxxxx Guardian
Fund" and "Xxxxxxxxx Xxxxxx Partners Assets became part of "Xxxxxxxxx Xxxxxx
Partners Fund."
WHEREAS, each Fund was organized into classes corresponding to the feeder
funds, such that "Xxxxxxxxx Xxxxxx Focus Fund" became "Xxxxxxxxx Xxxxxx Focus
Fund Investor Class"; "Xxxxxxxxx Xxxxxx Guardian Trust" became "Xxxxxxxxx Xxxxxx
Guardian Fund Trust Class"; and "Xxxxxxxxx Xxxxxx Partners Assets" became
"Xxxxxxxxx Xxxxxx Partners Fund Advisor Class."
WHEREAS, the parties wish to amend the Agreement(s) to reflect the
Reorganization.
NOW, THEREFORE, in consideration of the promises and mutual covenants
hereinafter contained, the parties agree as follows:
1. Each Agreement is hereby amended by deleting the names of the investment
companies listed in the left column wherever they may appear therein and
substituting therefor the names and classes of the investment companies listed
in the right column:
________________________________________________________________________________
OLD NAMES NEW NAMES
Xxxxxxxxx Xxxxxx Equity Funds Xxxxxxxxx Xxxxxx Equity Funds Investor Class
Xxxxxxxxx Xxxxxx Income Funds Xxxxxxxxx Xxxxxx Income Funds Investor Class
Xxxxxxxxx Xxxxxx Equity Trust Xxxxxxxxx Xxxxxx Equity Funds Trust Class
Xxxxxxxxx Xxxxxx Income Trust Xxxxxxxxx Xxxxxx Income Funds Trust Class
Xxxxxxxxx Xxxxxx Equity Assets Xxxxxxxxx Xxxxxx Equity Funds Advisor Class
________________________________________________________________________________
2. The list of Funds designated as Appendix A (or, in some Agreements, as
another exhibit or schedule), to each Agreement is hereby deleted in its
entirety and replaced by the appropriate new Appendix A (or exhibit or schedule)
attached to this Addendum, as follows:
(a) Administrative Services Agreements with NBMI relating to Xxxxxxxxx
Xxxxxx Equity Trust, Xxxxxxxxx Xxxxxx Income Trust, Xxxxxxxxx Xxxxxx Equity
Assets and/or Xxxxxxxxx Xxxxxx Equity Series: Appendix A (or other exhibit or
schedule) is hereby deleted in its entirety and replaced by "Appendix A-
Admin.-Trust and Advisor Classes" attached hereto.
(b) Sales and Services Agreements or Bank Agency Agreements with NBMI
relating to Xxxxxxxxx Xxxxxx Equity Assets: Appendix A (or other exhibit or
schedule) is hereby deleted in its entirety and replaced by "Appendix
A-12b-1-Advisor Class" attached hereto.
(c) Administrative Services Agreements with Xxxxxxxxx Xxxxxx' Equity Funds
or Xxxxxxxxx Xxxxxx Income Funds: Appendix A (or other exhibit or schedule) is
hereby deleted in its entirety and replaced by "Appendix A-Admin. Investor
Class" attached hereto.
(d) Sales, Fund/SERV, Networking or Agency Agreements with NBMI relating to
Xxxxxxxxx Xxxxxx Equity Funds or Xxxxxxxxx Xxxxxx Income Funds: Appendix A (or
other exhibit or schedule) is hereby deleted in its entirety and replaced by
"Appendix A-Trading-Investor Class" attached hereto.
Notwithstanding anything to the contrary in the Agreements, NBMI may from
time to time update Appendix A (or other exhibit or schedule) to the Agreement,
with a copy to the Company in due course, to add a new Fund, delete an inactive
or terminated Fund, or reflect the change of name of a Fund. The establishment
by the Company of an account in any Fund, whether or not as yet reflected on an
updated Appendix A or exhibit or schedule, shall constitute the agreement by the
Company and NBMI to be bound by the provisions of this Agreement with respect to
that Fund.
3. Except as modified hereby, all other terms and conditions of the Agreement(s)
shall remain in full force and effect.
4. This Addendum may be executed in two or more counterparts, each of which
shall be deemed to be an original, but all of which together shall constitute
one and the same Addendum.
[COMPANY] XXXXXXXXX XXXXXX
MANAGEMENT INC.
By: _________________________ By: /s/ XXXXXX XXXXX
________________________
Name: Name: XXXXXX XXXXX
Title: Title: SNR VICE PRESIDENT
2
APPENDIX A-Admin.-Trust and Advisor Classes
____________________________________________________________________________________________________________________________________
NAME OF FUND AND CLASS CUSIP NASDAQ SYMBOL
____________________________________________________________________________________________________________________________________
Xxxxxxxxx Xxxxxx Equity Funds, Trust Class
____________________________________________________________________________________________________________________________________
Xxxxxxxxx Xxxxxx Century Fund Trust Class 640917878
____________________________________________________________________________________________________________________________________
Xxxxxxxxx Xxxxxx Focus Fund Trust Class 640917506 NBFCX
____________________________________________________________________________________________________________________________________
Xxxxxxxxx Xxxxxx Genesis Fund Trust Class 640917100 NBGEX
____________________________________________________________________________________________________________________________________
Xxxxxxxxx Xxxxxx Guardian Fund Trust Class 640917209 NBGTX
____________________________________________________________________________________________________________________________________
Xxxxxxxxx Xxxxxx International Fund Trust Class 640917704
____________________________________________________________________________________________________________________________________
Xxxxxxxxx Xxxxxx Manhattan Fund Trust Class 640917308 NBMTX
____________________________________________________________________________________________________________________________________
Xxxxxxxxx Xxxxxx Millennium Fund Trust Class 640917803 NBMOX
____________________________________________________________________________________________________________________________________
Xxxxxxxxx Xxxxxx Partners Fund Trust Class 640917407 NBPTX
____________________________________________________________________________________________________________________________________
Xxxxxxxxx Xxxxxx Regency Fund Trust Class 640917886 NBREX
____________________________________________________________________________________________________________________________________
Xxxxxxxxx Xxxxxx Socially Responsive Fund Trust Class 640917860 NBSTX
____________________________________________________________________________________________________________________________________
Xxxxxxxxx Xxxxxx Technology Fund Trust Class 640917852
____________________________________________________________________________________________________________________________________
Xxxxxxxxx Xxxxxx Income Funds, Trust Class
____________________________________________________________________________________________________________________________________
Xxxxxxxxx Xxxxxx Limited Maturity Bond Fund Trust Class 640916201 NBLTX
____________________________________________________________________________________________________________________________________
Xxxxxxxxx Xxxxxx Equity Funds, Advisor Class
____________________________________________________________________________________________________________________________________
Xxxxxxxxx Xxxxxx Focus Fund Advisor Class 00000X000 NBFAX
____________________________________________________________________________________________________________________________________
Xxxxxxxxx Xxxxxx Genesis Fund Advisor Class 00000X000 NBGAX
____________________________________________________________________________________________________________________________________
Xxxxxxxxx Xxxxxx Guardian Fund Advisor Class 00000X000 NBGUX
____________________________________________________________________________________________________________________________________
Xxxxxxxxx Xxxxxx Manhattan Fund Advisor Class 00000X000 NBMBX
____________________________________________________________________________________________________________________________________
Xxxxxxxxx Xxxxxx Partners Fund Advisor Class 00000X000 NBPBX
____________________________________________________________________________________________________________________________________
3
APPENDIX A-12b-l-Advisor Class
____________________________________________________________________________________________________________________________________
NAME OF FUND AND CLASS CUSIP NASDAQ SYMBOL
____________________________________________________________________________________________________________________________________
Xxxxxxxxx Xxxxxx Equity Funds, Advisor Class
____________________________________________________________________________________________________________________________________
Xxxxxxxxx Xxxxxx Focus Fund Advisor Class 00000X000 NBFAX
____________________________________________________________________________________________________________________________________
Xxxxxxxxx Xxxxxx Genesis Fund Advisor Class 00000X000 NBGAX
____________________________________________________________________________________________________________________________________
Xxxxxxxxx Xxxxxx Guardian Fund Advisor Class 00000X000 NBGUX
____________________________________________________________________________________________________________________________________
Xxxxxxxxx Xxxxxx Manhattan Fund Advisor Class 00000X000 NBMBX
____________________________________________________________________________________________________________________________________
Xxxxxxxxx Xxxxxx Partners Fund Advisor Class 00000X000 NBPBX
____________________________________________________________________________________________________________________________________
4
APPENDIX A-Admin.-Investor Class
Only the Investor Classes of the Funds that correlate with the series of former
NB Equity Funds or Income Funds listed on the list of funds attached to the
Agreement are covered by the Agreement. For example, if the list of funds
contained "Xxxxxxxxx Xxxxxx Focus Fund (a series of Xxxxxxxxx Xxxxxx Equity
Funds)" it now will cover "Xxxxxxxxx Xxxxxx Focus Fund Investor Class."
____________________________________________________________________________________________________________________________________
NAME OF FUND AND CLASS CUSIP NASDAQ SYMBOL
____________________________________________________________________________________________________________________________________
Xxxxxxxxx Xxxxxx Equity Funds, Investor Class
____________________________________________________________________________________________________________________________________
Xxxxxxxxx Xxxxxx Century Fund Investor Class 641224878 NBCIX
____________________________________________________________________________________________________________________________________
Xxxxxxxxx Xxxxxx Xxxxxxxx Fund Investor Class 641224852 NBFSX
____________________________________________________________________________________________________________________________________
Xxxxxxxxx Xxxxxx Focus Fund Investor Class 641224506 NBSSX
____________________________________________________________________________________________________________________________________
Xxxxxxxxx Xxxxxx Genesis Fund Investor Class 641224100 NBGNX
____________________________________________________________________________________________________________________________________
Xxxxxxxxx Xxxxxx Guardian Fund Investor Class 641224209 NGUAX
____________________________________________________________________________________________________________________________________
Xxxxxxxxx Xxxxxx International Fund Investor Class 641224704 NBISX
____________________________________________________________________________________________________________________________________
Xxxxxxxxx Xxxxxx Manhattan Fund Investor Class 641224308 NMANX
____________________________________________________________________________________________________________________________________
Xxxxxxxxx Xxxxxx Millennium Fund Investor Class 641224803 NBMIX
____________________________________________________________________________________________________________________________________
Xxxxxxxxx Xxxxxx Partners Fund Investor Class 641224407 NPRTX
____________________________________________________________________________________________________________________________________
Xxxxxxxxx Xxxxxx Regency Fund Investor Class 641224886 NBRVX
____________________________________________________________________________________________________________________________________
Xxxxxxxxx Xxxxxx Socially Responsive Fund Investor Class 641224605 NBSRX
____________________________________________________________________________________________________________________________________
Xxxxxxxxx Xxxxxx Technology Fund Investor Class 641224860 NBTFX
____________________________________________________________________________________________________________________________________
Xxxxxxxxx Xxxxxx Income Funds, Investor Class
____________________________________________________________________________________________________________________________________
Xxxxxxxxx Xxxxxx High Yield Maturity Bond Fund Investor Class 640915864 NBHAX
____________________________________________________________________________________________________________________________________
Xxxxxxxxx Xxxxxx Limited Maturity Bond Fund Investor Class 640915203 NLMBX
____________________________________________________________________________________________________________________________________
Xxxxxxxxx Xxxxxx Municipal Securities Trust Investor Class 640915401 NBMUX
____________________________________________________________________________________________________________________________________
Xxxxxxxxx Xxxxxx Institutional Cash Trust Investor Class 640916409 NBIXX
____________________________________________________________________________________________________________________________________
Xxxxxxxxx Xxxxxx Money Funds, Investor Class
____________________________________________________________________________________________________________________________________
Xxxxxxxxx Xxxxxx Cash Reserves Fund Investor Class 640915104 NBCXX
____________________________________________________________________________________________________________________________________
Xxxxxxxxx Xxxxxx Government Money Fund Investor Class 640915104 NBGXX
____________________________________________________________________________________________________________________________________
Xxxxxxxxx Xxxxxx Municipal Money Fund 640915302 NBTXX
____________________________________________________________________________________________________________________________________
5
APPENDIX A-Trading-Investor Class
____________________________________________________________________________________________________________________________________
NAME OF FUND AND CLASS CUSIP NASDAQ SYMBOL
____________________________________________________________________________________________________________________________________
Xxxxxxxxx Xxxxxx Equity Funds, Investor Class
____________________________________________________________________________________________________________________________________
Xxxxxxxxx Xxxxxx Century Fund Investor Class 641224878 NBCIX
____________________________________________________________________________________________________________________________________
Xxxxxxxxx Xxxxxx Xxxxxxxx Fund Investor Class 641224852 NBFSX
____________________________________________________________________________________________________________________________________
Xxxxxxxxx Xxxxxx Focus Fund Investor Class 641224506 NBSSX
____________________________________________________________________________________________________________________________________
Xxxxxxxxx Xxxxxx Genesis Fund Investor Class 641224100 NBGNX
____________________________________________________________________________________________________________________________________
Xxxxxxxxx Xxxxxx Guardian Fund Investor Class 641224209 NGUAX
____________________________________________________________________________________________________________________________________
Xxxxxxxxx Xxxxxx International Fund Investor Class 641224704 NBISX
____________________________________________________________________________________________________________________________________
Xxxxxxxxx Xxxxxx Manhattan Fund Investor Class 641224308 NMANX
____________________________________________________________________________________________________________________________________
Xxxxxxxxx Xxxxxx Millennium Fund Investor Class 641224803 NBMIX
____________________________________________________________________________________________________________________________________
Xxxxxxxxx Xxxxxx Partners Fund Investor Class 641224407 NPRTX
____________________________________________________________________________________________________________________________________
Xxxxxxxxx Xxxxxx Regency Fund Investor Class 641224886 NBRVX
____________________________________________________________________________________________________________________________________
Xxxxxxxxx Xxxxxx Socially Responsive Fund Investor Class 641224605 NBSRX
____________________________________________________________________________________________________________________________________
Xxxxxxxxx Xxxxxx Technology Fund Investor Class 641224860 NBTFX
____________________________________________________________________________________________________________________________________
Xxxxxxxxx Xxxxxx Income Funds, Investor Class
____________________________________________________________________________________________________________________________________
Xxxxxxxxx Xxxxxx High Yield Maturity Bond Fund Investor Class 640915864 NBHAX
____________________________________________________________________________________________________________________________________
Xxxxxxxxx Xxxxxx Limited Maturity Bond Fund Investor Class 640915203 NLMBX
____________________________________________________________________________________________________________________________________
Xxxxxxxxx Xxxxxx Municipal Securities Trust Investor Class 640915401 NBMUX
____________________________________________________________________________________________________________________________________
Xxxxxxxxx Xxxxxx Institutional Cash Trust Investor Class 640916409 NBIXX
____________________________________________________________________________________________________________________________________
Xxxxxxxxx Xxxxxx Money Funds, Investor Class
____________________________________________________________________________________________________________________________________
Xxxxxxxxx Xxxxxx Cash Reserves Fund Investor Class 640915104 NBCXX
____________________________________________________________________________________________________________________________________
Xxxxxxxxx Xxxxxx Government Money Fund Investor Class 640915104 NBGXX
____________________________________________________________________________________________________________________________________
Xxxxxxxxx Xxxxxx Municipal Money Fund 640915302 NBTXX
____________________________________________________________________________________________________________________________________
6
[Neuberger&Berman Management Inc.(R) LOGO]
000 XXXXX XXXXXX 0XX XXXXX
XXX XXXX, XX 00000-0000
212.476.8800
May 15, 1998
D. Xxxxxxx Xxxxxx, Esq.
Counsel
National Life of Vermont
Xxx Xxxxxxxx Xxxx Xxxxx
Xxxxxxxxxx, XX 00000
RE: Neuberger&Berman Advisers Management Trust
Service Agreement
Dear Xxxx:
This letter sets forth the terms and conditions of the services agreement
between Neuberger&Berman Management Inc. ("NBMI") and National Life Insurance
Company (the "Company"), effective as of the lst day of May, 1997.
The Company, NBMI, Neuberger&Berman Advisers Management Trust (the "Trust") and
Advisers Managers Trust have entered into a Fund Participation Agreement, dated
the 1st day of May, 1997, as may be amended from time to time (the
"Participation Agreement"), pursuant to which the Company, on behalf of certain
of its separate accounts (the "Separate Accounts"), purchases shares ("Shares")
of certain Portfolios of the Trust ("Portfolios") to serve as an investment
vehicle under certain variable annuity and/or variable life insurance contracts
("Variable Contracts") offered by the Company, which Portfolios may be one of
several investment options available under the Variable Contracts.
NBMI recognizes that in the course of soliciting applications for its Variable
Contracts and in servicing owners of the Variable Contracts, the Company and its
agents that are registered representatives of broker-dealers provide information
about the Trust and its Portfolios (and Series of Advisers Managers Trust) from
time to time, answer questions concerning the Trust and its Portfolios (and
Series), including questions respecting Variable Contract owners' interests in
one or more Portfolios, and provide services respecting investments in the
Portfolios.
NBMI desires that the efforts of the Company and its agents in providing written
and oral information and services regarding the Trust to current and prospective
Variable Contract owners shall continue.
[Neuberger&Berman Management Inc. LOGO]
National Life Insurance Company
5/15/98
Page 2
Accordingly, the following represents the collective intention and understanding
of the services agreement between NBMI and the Company.
The Company and/or its affiliates agree to provide services ("Services") to
current and prospective owners of Variable Contracts including, but not limited
to: teleservicing support in connection with the Portfolios; delivery of current
Trust prospectuses, reports, notices, proxies and proxy statements and other
informational materials; facilitation of the tabulation of Variable Contract
owners' votes in the event of a meeting of Trust shareholders; maintenance of
Variable Contract records reflecting Shares purchased and redeemed and Share
balances, and the conveyance of that information to the Trust, its transfer
agent, or NBMI as may be reasonably requested; provision of support services
including providing information about the Trust and its Portfolios (and Series
of Advisers Managers Trust) and answering questions concerning the Trust and its
Portfolios (and Series), including questions respecting Variable Contract
owners' interests in one or more Portfolios; provision and administration of
Variable Contract features for the benefit of Variable Contract owners
participating in the Trust including fund transfers, dollar cost averaging,
asset allocation, portfolio rebalancing, earnings sweep, and pre-authorized
deposits and withdrawals; and provision of other services as may be agreed upon
from time to time.
In consideration of the Services, NBMI agrees to pay to the Company a service
fee at an annual rate equal to fifteen (15) basis points (0.15%) of the average
daily value of the Shares held in Separate Accounts. For purposes of computing
the payment to the Company under this paragraph, the average daily value of
Shares held in Separate Accounts over a monthly period shall be computed by
totaling such Separate Accounts' aggregate investment (Share net asset value
multiplied by total number of Shares held by such Separate Accounts) on each
business day during the calendar month, and dividing by the total number of
business days during such month. The payment to the Company under this paragraph
shall be calculated by NBMI at the end of each calendar month and will be paid
to the Company within thirty (30) days thereafter.
The services agreement shall remain in full force and effect for an initial term
of one year, and shall automatically renew for successive one year periods. The
services agreement may be terminated by either the Company or NBMI upon 60 days'
written notice to the other, and shall terminate automatically upon redemption
of all Shares held in Separate Accounts, upon termination of the Participation
Agreement, or upon assignment of the Participation Agreement by either the
Company or NBMI.
2
[Neuberger&Berman Management Inc. LOGO]
National Life Insurance Company
5/15/98
Page 3
Notwithstanding the termination of the services agreement, NBMI will continue to
pay the service fees in accordance with the preceding paragraph so long as net
assets of the Company or a Separate Account remain in a Portfolio, provided such
continued payment is permitted in accordance with applicable law and regulation.
The services agreement may be amended only upon mutual agreement of the Company
and NBMI in writing.
Nothing in the services agreement shall amend, modify or supersede any
contractual terms, obligations or covenants among or between any of the Company,
NBMI, the Trust or Advisers Managers Trust previously or currently in effect,
including those contractual terms, obligations or covenants contained in the
Participation Agreement.
If the services agreement is consistent with your understanding of the matters
we discussed concerning the Company's provision of the Services, please sign
below.
Very truly yours,
NEUBERGER&BERMAN MANAGEMENT
INCORPORATED
By: /s/ Xxxxx Xxxxxxx
___________________________
Name: Xxxxx Xxxxxxx
Title: Senior Vice President
Acknowledged and Agreed to:
NATIONAL LIFE INSURANCE
COMPANY
By: /s/ Xxxxxx von Gal
___________________________
Name: Xxxxxx von Gal
Title: Vice President & Treasurer
3
