FIFTH AMENDMENT TO SELLING AND SERVICES AGREEMENT AND FUND PARTICIPATION AGREEMENT
Exhibit 24(b)(8.7)
FIFTH AMENDMENT TO SELLING AND
SERVICES AGREEMENT AND FUND PARTICIPATION AGREEMENT
This Amendment to the Selling and Services Agreement and Fund Participation Agreement (“Amendment”) is effective as of date set forth below by and among Voya Retirement Insurance and Annuity Company (formerly ING Life Insurance and Annuity Company) (“Voya Retirement”), Voya Institutional Plan Services, LLC (formerly ING Institutional Plan Services, LLC) (“Voya Institutional”), Voya Financial Partners, LLC (formerly ING Financial Advisers, LLC) (“Voya Financial”) (collectively, “Voya”), American Beacon Advisors, Inc. (“AmBeacon”), acting solely on behalf of its American Beacon Funds (the “Trust”) series listed on Schedule A thereto, separately and not jointly (each a “Fund” or collectively the “Funds”), and Foreside Fund Services, LLC (“Distributor”), principal underwriter for the Funds.
Whereas, Voya Retirement, Voya Financial, AmBeacon and the Distributor entered into a Selling and Services Agreement and Fund Participation Agreement dated as of June 27, 2008 (the “Selling Agreement”). The Selling Agreement was subsequently amended by a First Amendment (adding Voya Institutional as a party) dated February 9, 2009, Second Amendment dated July 14, 0000, Xxxxx Xxxxxxxxx dated January 25, 2010 and Fourth Amendment dated April 1, 2016. The Selling Agreement as amended is referred to hereinafter as the “Agreement.” The parties now desire to further amend the Agreement as provided herein;
Now therefore, in consideration of the mutual covenants and promises set forth herein, and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereby agree as follows:
1. Amendment. Schedule B and Schedule C to the Agreement are hereby deleted and replaced with Schedule B and Schedule C attached hereto.
2. Ratification and Confirmation of Agreement. Except as specifically set forth herein, the Agreement is hereby ratified and confirmed in all respects and shall remain in full force and effect.
3. Counterparts. This Amendment may be executed in counterparts, each of which shall be deemed to be an original, but all of which together shall constitute one and the same instrument.
IN WITNESS WHEREOF, the parties hereto have duly executed this Amendment to be effective as of the 28th day of September, 2017.
VOYA RETIREMENT INSURANCE AND ANNUITY COMPANY
By: /s/ Xxxxxxxxx Xxxxxxxxx
Name: Xxxxxxxxx Xxxxxxxxx
Title: Vice President
VOYA INSTITUTIONAL PLAN SERVICES, LLC
By: /s/ Xxxxxxxxx Xxxxxxxxx
Name: Xxxxxxxxx Xxxxxxxxx
Title: Vice President
VOYA FINANCIAL PARTNERS, LLC
By: /s/ Xxxxxxxxx Xxxxxxxxx
Name: Xxxxxxxxx Xxxxxxxxx
Title: Vice President
AMERICAN BEACON ADVISORS, INC.
By: /s/ Xxxxx X. Xxxxx
Name: Xxxxx X. Xxxxx
Title: VP Sales
FORESIDE FUND SERVICES, LLC
By: /s/ Xxxx Xxxxxxxxx
Name: Xxxx Xxxxxxxxx
Title: Vice President
Address:
Three Xxxxx Xxxxx, Xxxxx 000
Xxxxxxxx, XX 00000
Attn: Legal Department
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SCHEDULE B
LIST OF AVAILABLE FUNDS
All Institutional class shares of the American Beacon Funds
All Investor class shares of the American Beacon Funds
All Advisor class shares of the American Beacon Funds
All Y class shares of the American Beacon Funds
All A class shares of the American Beacon Funds
All C class shares of the American Beacon Funds
All R6 class shares of the American Beacon Funds
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SCHEDULE C
FEE SCHEDULE
As compensation for the services Voya renders under the Agreement, AmBeacon will pay a fee to Voya Financial equal to an annual basis the rate set forth below multiplied by the average daily value of the assets in Voya accounts in the Funds.
|
Fund |
Service Fees |
12b-1 Fees |
Total Fees |
American Beacon Funds - Institutional Class |
X.XX% |
X.XX% |
X.XX% |
American Beacon Funds - Investor Class |
X.XX% |
X.XX% |
X.XX% |
American Beacon Funds - Advisor Class |
X.XX% |
X.XX% |
X.XX% |
American Beacon Funds - Y Class |
X.XX% |
X.XX% |
X.XX% |
American Beacon Funds - A Class |
X.XX% |
X.XX% |
X.XX% |
American Beacon Funds - C Class |
X.XX% |
X.XX% |
X.XX% |
American Beacon Funds - R6 Class |
X.XX% |
X.XX% |
X.XX% |
Dated: September 28, 2017
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