Exhibit (8)(n)
XXXXXX XXXXXXX
XXXXXX XXXXXXX
ASSET MANAGEMENT INC.
0000 XXXXXX XX XXX XXXXXXXX
XXX XXXX, XXX XXXX 00000
(212) 703-4000
May 1, 1997
Xxxx X. Xxxxxxxx, Esq.
Senior Vice President
Xxxxxxx Investors Life Insurance Company
000 Xxxx Xxxxx Xxxxxx
Xxxxxxxxxx, XX 00000
Gentlemen:
We are please to have entered into an agreement with Annuity Investors Life
Insurance Company (the "Company") dated May 1, 1997 providing for the purchase
by the Company of shares of Xxxxxx Xxxxxxx Universal Funds, Inc. (the "Fund")
for its separate accounts to fund variable annuity contract and variable life
policy benefits ("Participation Agreement").
In recognition of the fact that the Company will provide various administrative
services in connection with the issuance of variable annuity contracts and
variable life insurance policies and the fact that we (or our affiliates), as
investments advisers and administrators to the Fund will not incur
administrative expenses that we would otherwise incur in servicing large numbers
of investors in the Fund (such as shareholder communication, record keeping and
postage expenses), we will pay to the Company 0.15% of the Company's separate
account investments in the portfolios of the Fund.
Payment will be made on a quarterly basis during the month following the end of
each quarter.
If you agree to the foregoing, please sign the enclosed copy of this letter and
return it to Xxxxxx Xxxxx at Xxxxxx Xxxxxxx Asset Management Inc., 0000 Xxxxxx
xx xxx Xxxxxxxx, Xxx Xxxx, Xxx Xxxx 00000.
Sincerely,
Xxxxxx Xxxxxxx Asset Management Inc.
By: /s/ Xxxxxxx X. Xxxxxxxx
Name: Xxxxxxx X. Xxxxxxxx
Title: Principal
Xxxxxx Xxxxxxxx & Xxxxxxxx, LLP
By: /s/ Xxxxx X. Xxxxxxxxxxx
Name: Xxxxx X. Xxxxxxxxxxx
Title: Managing Director
AGREED
Annuity Investors Life Insurance Company
By: /s/ Xxxx X. Xxxxxxxx
Name: Xxxx X. Xxxxxxxx
Title: Senior Vice President
