Amendment to Participation Agreement Franklin Templeton Variable Insurance Products Trust Franklin/Templeton Distributors, Inc. ING Life Insurance and Annuity Company ING USA Annuity and LIfe Insurance Company ReliaStar Life Insurance Company...
| Exhibit 99-B.8.23 | ||
| Amendment to Participation Agreement | ||
| Franklin Xxxxxxxxx Variable Insurance Products Trust | ||
| Franklin/Xxxxxxxxx Distributors, Inc. | ||
| ING Life Insurance and Annuity Company | ||
| ING USA Annuity and LIfe Insurance Company | ||
| ReliaStar Life Insurance Company | ||
| ReliaStar Life Insurance Company of New York | ||
| Directed Services, LLC. | ||
| |
Franklin Xxxxxxxxx Variable Insurance Products Trust (the “Trust”), Franklin/Xxxxxxxxx | |
| Distributors, Inc. (the “Underwriter,” and together with the Trust, “we” or “us”), ING Life | ||
| Insurance and Annuity Company, ING USA Annuity and LIfe Insurance Company, ReliaStar | ||
| Life Insurance Company and ReliaStar Life Insurance Company of New York (together the | ||
| “Company” or “you”), and Directed Services, LLC., your distributor, on your behalf and on | ||
| behalf of certain Accounts, have previously entered into a Participation Agreement dated | ||
| December 30, 2005, as amended (the “Agreement”). The parties now desire to amend the | ||
| Agreement by this amendment (the “Amendment”). | ||
| |
Except as modified hereby, all other terms and conditions of the Agreement shall remain | |
| in full force and effect. Unless otherwise indicated, the terms defined in the Agreement shall | ||
| have the same meaning in this Amendment. | ||
A M E N D M E N T | ||
| |
For good and valuable consideration, the receipt of which is hereby acknowledged, the | |
| parties agree to amend the Agreement as follows: | ||
1. |
Section 1 and Section 2.2.1 are hereby each amended to reflect that Franklin Xxxxxxxxx | |
| Variable Insurance Products Trust (the “Trust”) is organized as a statutory trust under the | ||
| laws of the State of Delaware, effective as of May 1, 2007. | ||
2. |
Section 3.1.3 is amended and restated in its entirety as follows: | |
| |
“3.1.3 We agree that shares of the Trust will be sold only to: (i) life insurance companies | |
| which have entered into fund participation agreements with the Trust (“Participating | ||
| Insurance Companies”) and their separate accounts or to qualified pension and retirement | ||
| plans in accordance with the terms of the Shared Funding Order; and (ii) investment | ||
| companies in the form of funds of funds. No shares of any Portfolio will be sold to the | ||
| general public.” | ||
3. |
Section 5.2 is amended and restated in its entirety as follows: | |
| |
“5.2 | If and to the extent required by law, you shall: (i) solicit voting instructions from |
| Contract owners; (ii) vote the Trust shares in accordance with the instructions received | ||
| from Contract owners; and (iii) vote Trust shares owned by subaccounts for which no | ||
| instructions have been received from Contract owners in the same proportion as Trust | ||
| shares of such Portfolio for which instructions have been received from Contract owners; | ||
| so long as and to the extent that the SEC continues to interpret the 1940 Act to require | ||
| pass-through voting privileges for variable contract owners. You reserve the right to vote | |||
| Trust shares held in any Account in your own right, to the extent permitted by law.” | |||
4. |
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 its duly authorized officers to execute | |||
| this Amendment effective as of June 5, 2007. | |||
The Trust: |
FRANKLIN XXXXXXXXX VARIABLE INSURANCE | ||
| PRODUCTS TRUST | |||
| Only on behalf of each Portfolio | |||
| listed on Schedule C of the | By: /s/ Xxxxx X. Xxxxxxxx | ||
| Agreement | |||
| Name: Xxxxx X. Xxxxxxxx | |||
| Title: Vice President | |||
| The Underwriter: | FRANKLIN/XXXXXXXXX DISTRIBUTORS, INC. | ||
| |
By: /s/ Xxxxxx Xxxxxx | ||
| |
Name: Xxxxxx Xxxxxx | ||
| Title: Senior Vice President | |||
The Company: | |||
| ING Life Insurance and Annuity Company |
ING USA Annuity and LIfe Insurance | ||
| Company | |||
| By: /s/ Xxxxxxx X. Xxxxxxxx |
By: /s/ Xxxxxxx Xxx | ||
| Name: Xxxxxxx X. Xxxxxxxx | Name: Xxxxxxx Xxx | ||
| Title: Vice President | Title: Vice President | ||
| ReliaStar Life Insurance Company | ReliaStar Life Insurance Company of New | ||
| York | |||
By: /s/ Xxxxxxx Xxx |
By: /s/ Xxxxxxx Xxx | ||
| Name: Xxxxxxx Xxx | Name: Xxxxxxx Xxx | ||
| Title: Vice President | Title: Vice President | ||
| The Distributor: | Directed Services, Inc. | ||
| |
By: /s/ Xxxxx Xxxxxxxx | ||
| Name: Xxxxx Xxxxxxxx | |||
| Title: General Counsel | |||
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