Amendment No. 7 dated September 30, 2014 to Participation Agreement among Franklin Templeton Variable Insurance Products Trust, Franklin Templeton Distributors, Inc., Transamerica Premier Life Insurance Company (formerly, Western Reserve Life...
Exhibit 26(h)(xxxvi)
Amendment No. 7 dated September 30, 2014 to Participation Agreement
among Franklin Xxxxxxxxx Variable Insurance Products Trust,
Franklin Xxxxxxxxx Distributors, Inc.,
Transamerica Premier Life Insurance Company (formerly, Western Reserve Life Assurance Co. of Ohio)
and Transamerica Capital, Inc. dated November 10, 2008
Amendment No. 7 to
Franklin Xxxxxxxxx Variable Insurance Products Trust
Franklin/Xxxxxxxxx Distributors, Inc.
Transamerica Premier Life Insurance Company
(as Successor to “Western Reserve Life Assurance Co. of Ohio”)
Transamerica Capital, Inc.
Franklin Xxxxxxxxx Variable Insurance Products Trust (The “Trust”), Franklin/Xxxxxxxxx Distributors, Inc. (the “Underwriter,” and together with the Trust, “we” or “us”), Western Reserve Life Assurance Co. of Ohio and Transamerica Capital, Inc., your distributor (collectively the “Company”, “you” or “your”) on your behalf and on behalf of certain Accounts, (individually a “Party”, collectively, the “Parties”) have previously entered into a Participation Agreement dated November 10, 2008, and subsequently amended May 1, 2009, October 1, 2010, October 31, 2001, March 1, 2012, January 15, 2013, May 1, 2014, and further modified by an Addendum dated May 1, 2011 (the “Agreement”). The Parties now desire to amend the Agreement by this amendment (the “Amendment”). Unless otherwise indicated, the terms defined in the Agreement shall have the same meaning in this Amendment.
WHEREAS, subject to regulatory approval, Western Reserve Life Assurance Co. of Ohio (WRL) is expected to merge (the “Merger”) into Transamerica Premier Life Insurance Company (TPLIC) on or around October 1, 2014 (the ”Closing”). TPLIC, as the surviving entity of the Merger, will assume all rights, duties and obligations of WRL arising under the Agreement effective as of the Closing.
NOW, THEREFORE, in consideration of past and prospective business relations, the Parties hereby agree to amend the Agreement effective as of the Closing as follows:
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1.
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Transamerica Premier Life Insurance Company will assume all rights, duties and obligations under the Agreement; and all prior references of the Company in the Agreement shall hereafter mean TPLIC effective as of the Closing.
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2.
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Schedules A, B, C and G of the Agreement are hereby deleted in their entirety and replaced with the Schedules A, B, C and G attached, respectively.
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3.
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All other terms and provisions of the Agreement not amended herein shall remain in full force and effect.
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IN WITNESS WHEREOF, each of the Parties has caused its duly authorized officers to execute this Amendment as of September 30, 2014.
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The Trust:
Only on behalf of
each Portfolio listed
on Schedule C of
the Agreement.
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Franklin Xxxxxxxxx Variable Insurance Products Trust
By: /s/ Xxxxx X. Xxxxxxxx
Name: Xxxxx X. Xxxxxxxx
Title: Vice President
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The Underwriter:
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Franklin/Xxxxxxxxx Distributors, Inc.
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By: /s/ Xxxxxxxxxxx X. Xxxxxxxx
Name: Xxxxxxxxxxx X. Xxxxxxxx
Title: Vice President
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The Successor Company:
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Transamerica Primary Life Insurance Company
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By: /s/ Xxxx Xxxxxxx
Name: Xxxx Xxxxxxx
Title: Vice President
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The Former Company:
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Western Reserve Life Assurance Co. of Ohio
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By: /s/ Xxxx Xxxxxxx
Name: Xxxx Xxxxxxx
Title: Vice President
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The Distributor for the Company:
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Transamerica Capital, Inc.
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By: /s/ Xxxxxx X. Xxxxx
Name: Xxxxxx X. Xxxxx
Title: Assistant Vice President
Western Reserve Amd #7 to FPA 2014-09-26.docx
Schedule A
The Company and its Distributor
THE COMPANY
Transamerica Premier Life Insurance Company
0000 Xxxxxxxx Xx XX
Xxxxx Xxxxxx, XX 00000
An insurance company organized under the laws of the State ofIowa
THE DISTRIBUTOR
Transamerica Capital, Inc.
0000 X. Xxxxxxxx Xxxxxx
Xxxxx 0000
Xxxxxx, Xxxxxxxx 00000
A corporation organized under the laws of the State of California.
Schedule C
Available Portfolios and Classes of Shares of the Trust
Franklin Founding Funds Allocation VIP Fund – Class 4
In addition to portfolios and classes of shares listed above, any additional Portfolios and classes of shares other than Class 3 shares are included in this Schedule C listing provided that:
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(1)
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the General Counsel of Franklin Xxxxxxxxx Investments receives from a person authorized by you a written notice in the form attached (which may be electronic mail or sent by electronic mail) (“Notice”) identifying this Agreement as provided in the Notice and specifying: (i) the names and classes of shares of additional Portfolios that you propose to offer as investment options of the Separate Accounts under the Contracts; and (ii) the date that you propose to begin offering Separate Account interests investing in the additional Portfolios under the Contracts; and
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(2)
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we do not within ten (10) Business Days following receipt of the Notice send you a writing (which may be electronic mail) objecting to your offering such Separate Accounts investing in the additional Portfolios and classes of shares under the Contracts.
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Provided that we do not object as provided above, your Notice shall amend, supplement and become a party of this Schedule C and the Agreement.
Schedule G
Addresses for Notices
To the Company: Transamerica Premier Life Insurance Company
0000 Xxxxxxxx Xx XX
Xxxxx Xxxxxx, XX 00000
Attention: IS&R General Counsel
To the Distributor: Transamerica Capital, Inc.
0000 X. Xxxxxxxx Xxxxxx, Xxxxx 0000
Xxxxxx, XX 00000
Attention: General Counsel
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To the Trust:
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Franklin Xxxxxxxxx Variable Insurance Products Trust
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Xxx Xxxxxxxx Xxxxxxx, Xxxx. 000 0xx Xxxxx
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Xxx Xxxxx, Xxxxxxxxxx 00000
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Attention: Xxxxx X. Xxxxxxxx, Vice President
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To the Underwriter:
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Franklin/Xxxxxxxxx Distributors, Inc.
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000 Xxxxxxxx Xxxxxxx, Xxxx. 000 0xx Xxxxx
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Xx. Xxxxxxxxxx, XX 00000
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Attention: Xxxxx Xxxxx, President
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If to the Trust or Underwriter
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with a copy to:
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Franklin Xxxxxxxxx Xxxxxxxxxxx
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Xxx Xxxxxxxx Xxxxxxx, Xxxx. 000 0xx Xxxxx
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Xxx Xxxxx, Xxxxxxxxxx 00000
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Attention: General Counsel
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