AMENDMENT TO PARTICIPATION AGREEMENT
AMENDMENT TO PARTICIPATION AGREEMENT
THIS Amendment ("Amendment") is made as of June 1, 2007 among PRINCIPAL VARIABLE CONTRACTS FUND, INC., an open-end management investment company organized under the laws of the State of Maryland ("PVC"), PRINCIPAL FUNDS DISTRIBUTOR, INC. ("PFDI"), a principal underwriter for the shares of PVC, organized under the laws of the State of Washington, and PRINCIPAL LIFE INSURANCE COMPANY, a life insurance company organized under the laws of the State of Iowa (the "Company"), on its own behalf and on behalf of each segregated asset Account of the Company as referenced in the Agreement.
WHEREAS, the parties entered into a Participation Agreement dated January 5, 2007 the "Agreement");
NOW THEREFORE, PVC, PFDI and the Company hereby agree to amend the Agreement as follows:
1. Schedule A to the Agreement is hereby restated, in its entirety, and replaced with Schedule A attached hereto.
2. Schedule B to the Agreement is hereby restated, in its entirety, and replaced with Schedule B attached hereto.
3. Terms used, but not defined herein, shall have the same meaning assigned to the1p in the Agreement. Except as expressly amended by this Addendum, the terms and conditions of the Agreement remain in full force and effect.
IN WITNESS WHEREOF, the parties have caused their duly authorized officers to execute this Participation Agreement as the date and year first above written.
PRINCIPAL LIFE INSURANCE COMPANY | PRINCIPAL FUNDS DISTRIBUTOR, INC. |
/s/ Xxxx Xxxxxx | /s/ Xxxxx X. Xxxxxxxx |
By: ____________________________________ | By: ____________________________________ |
Name: Xxxx Xxxxxx | Name: |
Title Director - Product Mgmt | Title: |
PRINCIPAL VARIABLE CONTRACTS FUND, INC. | |
/s/ Xxxxx X. Xxxxxx | |
By: ____________________________________ | |
Name: Xxxxx X. Xxxxxx | |
Title: President and Chief Executive Officer | |
Schedule A
Separate Accounts, Associated Contracts, Available Share Classes and Funds
Name of Separate Account and | Contracts Funded | PVC Share Class |
Date Established bv Board of Trustees | By Separate Account | Available to Separate Account |
Principal Life Insurance Company | • Principal Variable Annuity | All Share Classes |
Separate Account B | • Principal Investment Plus | |
Variable Annuity | ||
• Principal Freedom Variable | ||
Annuity | ||
• Principal Freedom Variable | ||
Annuity 2 | ||
• Personal Variable Annuity | ||
Contract | ||
• Premier Variable Annuity | ||
Contract | ||
Principal Life Insurance Company | • Flex Variable Life | All Share Classes |
Variable Life Separate Account | • Principal Variable | |
Universal Life Income | ||
• Principal Variable | ||
Universal Life Accumulator | ||
• Survivorship Variable | ||
Universal Life | ||
• Executive Variable | ||
Universal Life | ||
• PrinFlex Life® | ||
• Principal VUL Accumulator | ||
II | ||
• Benefit Variable Universal | ||
Life | ||
• VUL Income II | ||
• Executive Variable | ||
Universal Life II | ||
• Benefit Variable Universal | ||
Life II | ||
Shares of all Funds of PVC will be made available to the Company as the sponsor of the Accounts.
Schedule B
Commencing on the date the Participation Agreement becomes effective, PFDI shall pay the Company an amount equal on an annual basis to the following:
• | .095% to .27% (dependent on the Fund, as listed below) of average daily net assets of each Fund held in the Accounts. |
Except that such compensation is not payable in connection with FVLI assets.
Such payments shall be made within thirty days of the end of each month.
Principal VCF Asset Allocation - | 0.0027 |
Principal VCF Balanced - | 0.00145 |
Principal VCF Bond Division - | 0.00145 |
Principal VCF Capital Value Division - | 0.00145 |
Principal VCF Equity Growth Division - | 0.0027 |
Principal VCF Equity Income I Division- | 0.00145 |
Principal VCF Government & High Quality Bond Division - | 0.00145 |
Principal VCF Growth Division - | 0.00145 |
Principal VCF International Division - | 0.00145 |
Principal VCF International Emerging Markets Division - | 0.00145 |
Principal VCF International SmallCap Division - | 0.00145 |
Principal VCF LargeCap Blend Division - | 0.0027 |
Principal VCF LargeCap Growth Equity - | 0.0027 |
Principal VCF LargeCap Stock Index - | 0.00095 |
Principal VCF LargeCap Value Division - | 0.0025 |
Principal VCF LifeTime Strategic Income Division- | 0.001488 |
Principal VCF LifeTime 2010 Division - | 0.001542 |
Principal VCF LifeTime 2020 Division- | 0.001556 |
Principal VCF LifeTime 2030 Division - | 0.00162 |
Principal VCF LifeTime 2040 Division - | 0.001651 |
Principal VCF LifeTime 2050 Division - | 0.001676 |
Principal VCF Short-Term Bond Division- | 0.00145 |
Principal VCF MidCap Division - | 0.00145 |
Principal VCF MidCap Growth Division - | 0.0027 |
Principal VCF MidCap Stock - | 0.00145 |
Principal VCF MidCap Value Division - | 0.0027 |
Principal VCF Money Market Division - | 0.00145 |
Principal VCF Real Estate Division - | 0.0016 |
Principal VCF SmallCap Division - | 0.00145 |
Principal VCF SmallCap Growth Division - | 0.0027 |
Principal VCF SmallCap Value Division - | 0.0027 |
Principal VCF XXX Balance Portfolio | 0.0014 |
Principal VCF XXX Conservative Balance Portfolio | 0.00138 |
Principal VCF XXX Conservative Growth Portfolio | 0.00142 |
Principal VCF XXX Flexible Income Portfolio | 0.00138 |
Principal VCF XXX Strategic Growth Portfolio | 0.00142 |
Principal VCF West Coast Equity Account | 0.00145 |
