VCA-11
AGREEMENT FOR THE SALE OF VCA-11 CONTRACTS
AGREEMENT dated as of May 1, 1993, among THE PRUDENTIAL INSURANCE
COMPANY OF AMERICA ("Prudential"), a New Jersey corporation, THE PRUDENTIAL
VARIABLE CONTRACT ACCOUNT-11 ("VCA-11"), a separate account of Prudential
registered as an open-end, diversified management investment company under the
Investment Company Act of 1940, and PRUDENTIAL RETIREMENT SERVICES, INC.
("PRSI"), a wholly-owned indirect subsidiary of Prudential registered as a
broker-dealer under the Securities Exchange Act of 1934.
WHEREAS, VCA-11 serves as the funding medium for such variable contracts
issued by Prudential as may be designated by Prudential as participating therein
(the "Contracts"); and
WHEREAS, Prudential and VCA-11 desire that PRSI provide sales and
distribution services for the Contracts;
NOW, THEREFORE, in consideration of the promises and mutual considerations
provided here, and intending to be legally bound hereby, the parties hereto
agree as follows:
1. PRSI will provide sales and distribution services (the "Services") for
the Contracts.
2. In exchange for the Services, Prudential shall compensate PRSI in an
amount equal to the commissions and other expenses incurred by PRSI in
connection with the Services. PRSI shall itemize such commissions and expenses
at Prudential's request.
3. Amounts retained by Prudential from the payment of the deferred sales
charge under the Contracts shall be applied to the payments to be made by
Prudential to PRSI for the Services. The deferred sales charge shall be as
described in the prospectus for the sale of the Contracts. To the extent that
the deferred sales charge does not cover the payments to be made by Prudential
to PRSI for the services, the difference will be made up from Prudential's
surplus.
4. This agreement shall be approved by the affirmative vote of the VCA-11
Committee, including the specific approval of a majority of the members of the
Committee who are not persons affiliated with Prudential, or by a majority of
the votes cast by those persons having voting rights in respect of VCA-11, as
provided for by the Rules and Regulations of VCA-11. This agreement shall remain
in force only so long as its continuance is approved at least annually by such
vote of the Committee or persons with VCA-11 voting rights described in the
previous sentence.
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5. This agreement shall automatically terminate in the event of its
assignment by Prudential or PRSI.
IN WITNESS WHEREOF, the parties have caused this Agreement to be executed
as of the date first above written.
THE PRUDENTIAL INSURANCE COMPANY
OF AMERICA
By: Xxxxxxx X. Light
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Vice President
THE PRUDENTIAL VARIABLE CONTRACT
ACCOUNT-11
By: Xxxxx X. Xxxx
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Chairman of the Committee
PRUDENTIAL RETIREMENT SERVICES, INC.
By: Xxxx X. Xxxxxxx
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President
