AMENDMENT No. 1 TO
THIRD PARTY ADMINISTRATION SERVICES AGREEMENT
THIS AMENDMENT No. 1 TO THE THIRD PARTY ADMINISTRATION SERVICES AGREEMENT
is entered into effective the ___ day of _______, 1999, by and between IL
Annuity and Insurance Company ("Client"), a Massachusetts corporation, and USA
Administration Services, Inc. ("USA"), a Kansas corporation.
WHEREAS, Client and USA have entered into a Third Party Administration
Services Agreement, dated May 30, 1997 ("Agreement"), wherein USA agreed to
provide Client with specified services related to the administration of the
specific products listed in Schedule A.
WHEREAS, Client and USA have agreed to add the Visionary Variable Annuity
product to this Agreement and this Amendment is to reflect the verbal agreements
between the parties with respect to the addition of this product.
NOW THEREFORE, the parties mutually agree that the following provisions of
the Agreement are hereby superseded and replaced:
1. Article 17 of the Agreement is amended to reflect the following change in
names and address for USA:
USA Administration Services, Inc.
c/o Marketing Partnerships
000 Xxxx Xxxxxx Xxxxxx, 00xx Xxxxx
Xxxxxxxxxx, XX 00000
Attn: Xxxxxxx X. Xxxxxxx
2.
SCHEDULE A
USA ADMINISTRATION SERVICES INC.
SPECIFIC PRODUCTS
The plans included in this Services Agreement are:
o Visionary Choice Variable Annuity
Form #VCA-97
o Visionary Variable Annuity
Form #VA-95
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The product specifications of these products are attached to this Schedule A.
USA recognizes that the product specs, contracts and prospectus have and will
continue to change over time. Client will make revised copies available to USA
as soon as possible to ensure complete and accurate understanding of the product
and its administrative needs.
3.
SCHEDULE C
USA ADMINISTRATION SERVICES, INC.
PROFESSIONAL FEES
Visionary:
New Business Fee $_____ per application
Monthly Maintenance $_____ per policy
Visionary Choice:
New Business Fee $_____ per application
Monthly Maintenance $_____ per policy
Combined Asset Balancing Fee $_____ per month
Combined Monthly Minimum $_____
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Notes:
o New Business Fee is a one-time fee per application to process the application
and establish the ongoing record on the system. This fee is charged at the
time the application is placed under system control.
o Monthly Maintenance Fee is an ongoing fee for the maintenance of the contract
records.
o Monthly minimum is incurred when new business and monthly maintenance fees
for Visionary and Visionary Choice fall below the threshold.
o Asset balancing fee is established with the assumption that there are 20
sub-accounts available with this product.
o Other services, such as Integrated Voice Response and remote system inquiry
are available to the Client for additional fees.
The above fees include the cost of USA staff, software support, operating
expenses (except postage which is billed as incurred) and computer hardware.
Items that are not included are special forms, printing costs, client hardware
and software costs at the Client location, communication costs, and reasonable
travel and living expenses incurred (and approved in writing in advance) by USA
personnel on Client's behalf.
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IN WITNESS WHEREOF, the parties have executed this Amendment No. 1 to the
Agreement.
USA ADMINISTRATION SERVICES, INC. IL ANNUITY AND INSURANCE COMPANY
By_____________________________ By_______________________________
Title__________________________ Title____________________________
Witness________________________ Witness__________________________
Date___________________________ Date_____________________________
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