Exhibit (8)(q)
DRAFT MR 011100
---------------
February 1, 2000
Xxx Xxxx
Senior Vice President
American General Life Insurance Company
0000-X Xxxxx Xxxxxxx
Xxxxxxx, Xxxxx 00000
Re: AMT Services Agreement
Dear Xx. Xxxx:
This letter sets forth the terms and conditions of the services agreement
between Xxxxxxxxx Xxxxxx Management Inc. ("NBMI") and American General Life
Insurance Company (the "Company"), effective as of the 1st day of February,
2000.
The Company, NBMI, Xxxxxxxxx Xxxxxx Advisers Management Trust (the "Trust") and
Advisers Managers Trust have entered into a Sales Agreement, dated the 7th day
of July, 1994, as may be amended from time to time (the "Participation
Agreement"), pursuant to which the Company, on behalf of certain of its separate
accounts (the "Separate Accounts"), purchases shares ("Shares") of certain
Portfolios of the Trust ("Portfolios") to serve as an investment vehicle under
certain variable annuity and/or variable life insurance contracts ("Variable
Contracts") offered by the Company, which Portfolios may be one of several
investment options available under the Variable Contracts.
NBMI recognizes that in the course of soliciting applications for its Variable
Contracts and in servicing owners of the Variable Contracts, the Company and its
agents that are registered representatives of broker-dealers provide information
about the Trust and its Portfolios (and Series of Advisers Managers Trust) from
time to time, answer questions concerning the Trust and its Portfolios (and
Series), including questions respecting Variable Contract owners' interests in
one or more Portfolios, and provide services respecting investments in the
Portfolios.
NBMI desires that the efforts of the Company and its agents in providing written
and oral information and services regarding the Trust to current and prospective
Variable Contract owners shall continue.
Accordingly, the following represents the collective intention and understanding
of the services agreement between NBMI and the Company.
The Company and/or its affiliates agree to provide services ("Services") to
current and prospective owners
Xxx Xxxx
02/02/2000
Page 2
of Variable Contracts including, but not limited to: teleservicing support in
connection with the Portfolios; delivery and responding to inquires respecting
Trust prospectuses, reports, notices, proxies and proxy statements and other
information respecting the Portfolios (but not including services paid for by
the Trust such as printing and mailing); facilitation of the tabulation of
Variable Contract owners' votes in the event of a meeting of Trust shareholders;
maintenance of Variable Contract records reflecting Shares purchased and
redeemed and Share balances, and the conveyance of that information to the
Trust, its transfer agent, or NBMI as may be reasonably requested; provision of
support services including providing information about the Trust and its
Portfolios (and Series of Advisers Managers Trust) and answering questions
concerning the Trust and its Portfolios (and Series), including questions
respecting Variable Contract owners' interests in one or more Portfolios;
provision and administration of Variable Contract features for the benefit of
Variable Contract owners participating in the Trust including fund transfers,
dollar cost averaging, asset allocation, portfolio rebalancing, earnings sweep,
and pre-authorized deposits and withdrawals; and provision of other services as
may be agreed upon from time to time.
In consideration of the Services, NBMI agrees to pay to the Company a service
fee at an annual rate equal to 15 basis points (0.15%) of the average daily
value of the shares of the Portfolios ("Shares") held in American General Life
Insurance Company Separate Account VL-R. For purposes of computing the payment
to the Company under this paragraph, the average daily value of Shares held in
Separate Accounts over a monthly period shall be computed by totaling such
Separate Accounts' aggregate investment (Share net asset value multiplied by
total number of Shares held by such Separate Accounts) on each business day
during the calendar month, and dividing by the total number of business days
during such month. NBMI shall calculate the payment to the Company under this
paragraph by at the end of each calendar month and pay all fees to the Company
within thirty (30) business days after the last day of each month. NBMI shall
send all payments to the attention of : Xxxxx Xxxxxxx or Xxxxx Xxxx at the
-------
address for the Company listed above.
-------------------------------------
In lieu of requesting that the Company indicate its Tax Identification Number
("TIN") on Form W-9, NBMI hereby requests that the Company furnish NBMI its TIN
and acknowledge that the number shown below in this Section 2.3 is its correct
TIN.
The Company acknowledges that the following number is its correct TIN:
00-0000000
Employer Identification Number: 00-0000000
This services agreement shall remain in full force and effect for an initial
term of one year, and shall automatically renew for successive one year periods.
The services agreement may be terminated by either
2
Xxx Xxxx
02/02/2000
Page3
the Company or NBMI upon 60 days' written notice to the other, and shall
terminate automatically upon redemption of all Shares held in Separate Accounts,
upon termination of the Participation Agreement, or upon assignment of the
Participation Agreement by either the Company or NBMI, or if required by law.
Nothing in this services agreement shall amend, modify or supersede any
contractual terms, obligations or covenants among or between any of the Company,
NBMI, the Trust or Advisers Managers Trust previously or currently in effect,
including those contractual terms, obligations or covenants contained in the
Participation Agreement.
If this services agreement is consistent with your understanding of the matters
we discussed concerning the Company's provision of the Services, please sign
below, whereupon this letter shall constitute a binding agreement between us.
Very truly yours,
XXXXXXXXX XXXXXX MANAGEMENT INC.
By:__________________________
Name: Xxxxx Xxxxxxx
Title: Senior Vice President
Acknowledged and Agreed to:
AMERICAN GENERAL LIFE INSURANCE COMPANY
By:____________________________
Name: Xxx Xxxx
Title: Senior Vice President
3
