Amendment No. 1 to Administrative Services Agreement Franklin Templeton Services, LLC Pacific Life & Annuity Company
Amendment No. 1 to
Administrative Services Agreement
Franklin Xxxxxxxxx Services, LLC
Pacific Life & Annuity Company
Administrative Services Agreement
Franklin Xxxxxxxxx Services, LLC
Pacific Life & Annuity Company
THIS AMENDMENT is made by and between Franklin Xxxxxxxxx Services, LLC (the “Fund
Administrator”) and Pacific Life & Annuity Company (the “Company”).
WHEREAS, The Company and the Fund Administrator have entered into an Administrative Services
Agreement, dated as of March 17, 2008, as may be amended from time to time (the “Agreement”),
concerning certain administrative services with respect to each series (“Fund” or “Funds”) of
Franklin Xxxxxxxxx Variable Insurance Products Trust (the “Trust”) listed on the Schedule B of the
Agreement;
WHEREAS, the Company and the Fund Administrator wish to amend the Agreement for the purpose of
adding certain new Funds and variable life or variable annuity insurance contracts covered by the
Agreement.
NOW, THEREFORE, in consideration of past and prospective business relations, the Fund
Administrator and the Company hereby amend the Agreement as follows:
1. Schedules A and B of the Agreement are hereby deleted in their entirety and replaced with the
Schedules A and B attached hereto.
2. All other terms and provisions of the Agreement not amended herein shall remain in full force
and effect.
This Amendment is executed as of February ___, 2010.
Franklin Xxxxxxxxx Services, LLC | Pacific Life & Annuity Company | |||||||||||||
By:
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By: | |||||||||||||
Name:
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Name: | |||||||||||||
Title:
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Vice President | Title: | Assistant Vice President | |||||||||||
Attest: | ||||||||||||||
Name: | ||||||||||||||
Title: | Corporate Secretary |
Schedule A
Administrative Services
Maintenance of Books and Records
• | Assist as necessary to maintain book entry records on behalf of the Funds regarding issuance to, transfer within (via net purchase orders) and redemption by the Accounts of Fund shares. |
• | Maintain general ledgers regarding the Accounts’ holdings of Fund shares, coordinate and reconcile information, and coordinate maintenance of ledgers by financial institutions and other contract owner service providers. |
Communication with the Funds
• | Serve as the designee of the Funds for receipt of purchase and redemption orders from the Account and to transmit such orders, and payment therefore, to the Funds. |
• | Coordinate with the Funds’ agents respecting daily valuation of the Funds’ shares and the Accounts’ units. |
• | Purchase Orders |
- | Determine net amount available for investment in the Funds. | ||
- | Deposit receipts at the Funds’ custodians (generally by wire transfer). | ||
- | Notify the custodians of the estimated amount required to pay dividends or distributions. |
• | Redemption Orders |
- | Determine net amount required for redemptions by the Funds. | ||
- | Notify the custodian and Funds of cash required to meet payments. |
• | Purchase and redeem shares of the Funds on behalf of the Accounts at the then-current price in accordance with the terms of each Fund’s then current prospectus. | |
• | Assistance in enforcing procedures adopted on behalf of the Trust to reduce, discourage, or eliminate market timing transactions in a Fund’s shares in order to reduce or eliminate adverse effects on a Fund or its shareholders. |
Processing Distributions from the Funds
• | Process ordinary dividends and capital gains. | |
• | Reinvest the Funds’ distributions. |
2
Reports
• | Periodic information reporting to the Funds, including, but not limited to, furnishing registration statements, prospectuses or private offering memorandum, statements of additional information, reports, solicitations for instructions, disclosure statements, sales or promotional materials and any other filings with the Securities and Exchange Commission with respect to the Accounts invested in the Funds, if necessary. |
• | Periodic information reporting about the Funds to contract owners, including necessary delivery of the Funds’ prospectus and annual and semi-annual reports. |
Fund-related Contract Owner Services
• | Maintain adequate fidelity bond or similar coverage for all Company officers, employees, investment advisors and other individuals or entities controlled by the Company who deal with the money and/or securities of the Funds. |
• | Provide general information with respect to Fund inquiries (not including information about performance or related to sales). |
• | Provide information regarding performance of the Funds. |
• | Oversee and assist the solicitation, counting and voting of contract owner pass-through voting interests in the Funds pursuant to Fund proxy statements. |
Other Administrative Support
• | Provide other administrative and legal compliance support for the Funds as mutually agreed upon by the Company and the Funds or the Fund Administrator. |
• | Relieve the Funds of other usual or incidental administrative services provided to individual contract owners. |
3
Schedule B
Administrative Expense Payment
The Fund Administrator agrees to pay the Company a fee, computed daily and paid quarterly in
arrears, equal to an annual rate as set forth below, applied to the average daily net assets of the
shares of the Funds held in the subaccounts of the Accounts. The payment will be computed and paid
in the manner described more completely in the Agreement. Only one fee rate is in effect for
each Contract; for each Contract higher fee rates supersede and replace lower fee rates, which are
shown for reference only.
Date of | ||||||||||
beginning of | ||||||||||
period for | ||||||||||
Product Name/ | Fee | computation of | ||||||||
# | Company Name | Securities Act No. | Funds of the Trust | Rate | fee | |||||
1.
|
Pacific Life & Annuity Company |
Pacific Innovations
Select 333-71081 |
Franklin Xxxxxxxxx
VIP Founding Funds
Allocation Fund —
Class 4 Franklin Xxxxxxxxx VIP Founding Funds Allocation Fund — Class 2 |
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2.
|
Pacific Life & Annuity Company |
Pacific Odyssey
333-100907 |
Franklin Xxxxxxxxx
VIP Founding Funds
Allocation Fund —
Class 4 Franklin Xxxxxxxxx VIP Founding Funds Allocation Fund — Class 2 |
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3.
|
Pacific Life & Annuity Company |
Pacific Portfolios
333-122914 |
Franklin Xxxxxxxxx
VIP Founding Funds
Allocation Fund —
Class 4 Franklin Xxxxxxxxx VIP Founding Funds Allocation Fund — Class 2 |
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4.
|
Pacific Life & Annuity Company |
Pacific Portfolios
for Chase 333-122914 |
Franklin Xxxxxxxxx
VIP Founding Funds
Allocation Fund —
Class 4 Franklin Xxxxxxxxx VIP Founding Funds Allocation Fund — Class 2 |
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5.
|
Pacific Life & Annuity Company |
Pacific Value 333-107571 |
Franklin Xxxxxxxxx
VIP Founding Funds
Allocation Fund —
Class 4 Franklin Xxxxxxxxx VIP Founding Funds Allocation Fund — Class 2 |
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6.
|
Pacific Life & Annuity Company |
Pacific Voyages 333-136598 |
Franklin Xxxxxxxxx
VIP Founding Funds
Allocation Fund —
Class 4 Franklin Xxxxxxxxx VIP Founding Funds Allocation Fund — Class 2 |
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7.
|
Pacific Life & Annuity Company |
Pacific Explorer 333-141136 |
Franklin Xxxxxxxxx
VIP Founding Funds
Allocation Fund —
Class 4 Franklin Xxxxxxxxx VIP Founding Funds Allocation Fund — Class 2 |
4
Date of | ||||||||||
beginning of | ||||||||||
period for | ||||||||||
Product Name/ | Fee | computation of | ||||||||
# | Company Name | Securities Act No. | Funds of the Trust | Rate | fee | |||||
8.
|
Pacific Life & Annuity Company |
Pacific Journey 333-145824 |
Franklin Xxxxxxxxx
VIP Founding Funds
Allocation Fund —
Class 4 Franklin Xxxxxxxxx VIP Founding Funds Allocation Fund — Class 2 |
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9.
|
Pacific Life & Annuity Company |
Pacific Value Edge
333-148891 |
Franklin Xxxxxxxxx
VIP Founding Funds
Allocation Fund —
Class 4 Franklin Xxxxxxxxx VIP Founding Funds Allocation Fund — Class 2 |
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10.
|
Pacific Life & Annuity Company |
Pacific One Select
333-160773 |
Franklin Xxxxxxxxx
VIP Founding Funds
Allocation Fund —
Class 4 Franklin Xxxxxxxxx VIP Founding Funds Allocation Fund — Class 4 Franklin Xxxxxxxxx VIP Founding Funds Allocation Fund — Class 2 |
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11.
|
Pacific Life & Annuity Company |
Pacific Destinations
333-160131 |
Franklin Xxxxxxxxx
VIP Founding Funds
Allocation Fund —
Class 4 Class 2 Shares: Franklin Xxxxxxxxx VIP Founding Funds Allocation Fund Mutual Global Discovery Securities Fund Xxxxxxxxx Global Bond Securities Fund Class 4 Shares: Franklin Xxxxxxxxx VIP Founding Funds Allocation Fund |
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12.
|
Pacific Life & Annuity Company |
Pacific Select Exec II — NY 333-80825 |
Xxxxxxxxx Global
Bond Securities Fund — Class 2 |
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13.
|
Pacific Life & Annuity Company |
Pacific Select Exec III — NY 333-106721 |
Xxxxxxxxx Global
Bond Securities Fund — Class 2 |
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14.
|
Pacific Life & Annuity Company |
Pacific Select Exec IV — NY 333-138906 |
Xxxxxxxxx Global
Bond Securities Fund — Class 2 |
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15.
|
Pacific Life & Annuity Company |
Pacific Select Exec V — NY 333-153085 |
Xxxxxxxxx Global
Bond Securities Fund — Class 2 |
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16.
|
Pacific Life & Annuity Company |
Pacific Select
Estate Preserver — NY 333-62446 |
Xxxxxxxxx Global
Bond Securities Fund — Class 2 |
5
Date of | ||||||||||
beginning of | ||||||||||
period for | ||||||||||
Product Name/ | Fee | computation of | ||||||||
# | Company Name | Securities Act No. | Funds of the Trust | Rate | fee | |||||
17.
|
Pacific Life & Annuity Company |
Magnastar — NY (Not Registered) |
Xxxxxxxxx Global
Bond Securities Fund — Class 2 |
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18.
|
Pacific Life & Annuity Company |
Magnastar — Survivorship NY (Not Registered) |
Xxxxxxxxx Global
Bond Securities Fund — Class 2 |
6