EXHIBIT 8(p)(1)
AMENDMENT TO PARTICIPATION AGREEMENT
The Participation Agreement, dated as of April 15, 1997, between DREYFUS
VARIABLE INVESTMENT FUND, THE DREYFUS SOCIALLY RESPONSIBLE GROWTH FUND, INC.,
DREYFUS LIFE AND ANNUITY INDEX FUND, INC. (d/b/a DREYFUS STOCK INDEX FUND), and
PFL LIFE INSURANCE COMPANY ("the Agreement") is hereby amended as follows:
WHEREAS, Peoples Benefit Life Insurance Company ("Peoples Benefit"), an
affiliate of PFL Life Insurance Company, has registered or will register certain
variable annuity contracts and/or variable life insurance policies (both the
contracts and policies, collectively, "Policies") under the Securities Act of
1933; and
WHEREAS, Peoples Benefit has, by resolution of its Board of Directors, duly
organized and established the Peoples Benefit Life Insurance Company Separate
Account V ("Account V") as a segregated asset account to receive, set aside and
invest assets attributable to net premiums and payments received under the
Policies; and
WHEREAS, Peoples Benefit has registered or will register the Account as a
unit investment trust under the Investment Company Act of 1940; and
WHEREAS, to the extent permitted by applicable insurance law and
regulation, Peoples Benefit intends to purchase shares in one or more portfolios
of the Fund to fund the Policies on behalf of Account V, and
WHEREAS, the Fund intends to sell shares of the Portfolio(s) to Account V
at net asset value; and
WHEREAS, all of the current parties is desirous of adding Peoples Benefit
as a party, subject to the same terms and conditions, to the Agreement.
NOW, THEREFORE, IT IS HEREBY AGREED that Peoples Benefit is authorized to
acquire shares issued by the Fund, subject to the terms and conditions of this
Agreement, and that Section 1.12 is hereby deleted in its entirety and replaced
with the following:
"Separate Account" shall mean PFL Life Separate Account A, PFL Retirement
Builder Variable Annuity Account, Peoples Benefit Life Insurance Company
Separate Account V, and Legacy Builder Variable Life Separate Account,
separate accounts established by Insurance Company in accordance with the
laws of the State of Iowa.
All other terms and provisions of the Agreement not amended herein shall
remain in full force and effect.
IN WITNESS WHEREOF, each of the parties has caused this Addendum to be executed
in its name and on its behalf by its duly authorized representative as of July
28, 2000.
PFL LIFE INSURANCE COMPANY DREYFUS VARIABLE INVESTMENT FUND
By its authorized officer By its authorized officer
By: /s/ Xxxxx X. Xxxxxx By: /s/ Xxxxxxx X. Xxxxxxxxx
---------------------------------- ---------------------------------
Title: President Title: Secretary
------------------------------- ------------------------------
Date: August 21, 2000 Date: August 15, 2000
-------------------------------- -------------------------------
THE DREYFUS SOCIALLY RESPONSIBLE PEOPLES BENEFIT LIFE
GROWTH FUND, INC. INSURANCE COMPANY
By its authorized officer By its authorized officer
By: /s/ Xxxxxxx X. Xxxxxxxxx By: /s/ Xxxxx X. Xxxxxx
---------------------------------- ------------------------------------
Title: Assistant Secretary Title: Executive Vice President
------------------------------- ------------------------------
Date: August 15, 2000 Date: August 21, 2000
-------------------------------- -------------------------------
DREYFUS LIFE AND ANNUITY
INDEX FUND, INC. (d/b/a Dreyfus Stock
Index Fund)
By its authorized officer
By: /s/ Xxxxxxx X. Xxxxxxxxx
----------------------------------
Title: Secretary
-------------------------------
Date: August 15, 2000
--------------------------------
