AMENDMENT NO. 1
TO THE
PARTICIPATION AGREEMENT (VARIABLE ANNUITY) FOR RETAIL MUTUAL FUNDS
THIS AMENDMENT, dated as of April 21, 2006, between SECURITY BENEFIT LIFE
INSURANCE COMPANY (the "Company") and XXXXXXXXX XXXXXX MANAGEMENT INC. (the
"Adviser") is made to the Participation Agreement (Variable Annuity) for Retail
Mutual Funds, dated as of January 20, 2006, as amended, between the Company and
the Adviser (the "Agreement"). Terms defined in the Agreement are used herein as
therein defined.
WHEREAS, the Company and the Adviser desire to amend the Agreement to make
it applicable to the Trust Class and Advisor Class shares of all series of
Xxxxxxxxx Xxxxxx Equity Funds and Xxxxxxxxx Xxxxxx Income Funds, in addition to
the Investor Class shares of Xxxxxx Brothers Core Bond Fund (the "Funds").
NOW, THEREFORE, in consideration of the promises and mutual covenants
hereinafter contained, the parties agree as follows:
1. Schedule A of the Agreement is hereby deleted in its entirety and replaced
with Schedule A attached hereto.
2. Notwithstanding anything to the contrary contained in the Agreement, the
Adviser may from time to time update Schedule A to the Agreement, with a copy to
the Company in due course, to add a new fund or portfolio, delete an inactive or
terminated Fund or Portfolio, or reflect the change of name of a Fund or
Portfolio. The establishment by the Company of an account in any fund, whether
or not as yet reflected on an updated Schedule A, shall constitute the agreement
by the Company and the Adviser to be bound by the provisions of this Agreement
with respect to that fund.
3. Except as modified hereby, all other terms and conditions of the Agreement
shall remain in full force and effect.
4. This Amendment may be executed in two or more counterparts, each of which
shall be deemed to be an original, but all of which together shall constitute
one and the same Amendment.
SECURITY BENEFIT LIFE XXXXXXXXX XXXXXX
INSURANCE COMPANY MANAGEMENT INC.
By: _______________________ By:_____________________________
Name: Name:
Title: Title:
APRIL 21, 2006
SCHEDULE A
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ACCOUNT(S) CONTRACT(S) NAME OF DESIGNATED PORTFOLIO AND CLASS CUSIP OF NASDAQ
DESIGNATED SYMBOL OF
DESIGNATED
PORTFOLIO
------------------------ ------------------ -------------------------------------------------- ------------------ ------------------
SBL VARIABLE ACCOUNT XIV V6029 EUBERGER XXXXXX INCOME FUNDS, INVESTOR CLASS
------------------------ ------------------ -------------------------------------------------- ------------------ ------------------
Xxxxxx Brothers Core Bond Fund, NB Investor Class 640915799 NBCNX
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XXXXXXXXX XXXXXX EQUITY FUNDS, TRUST CLASS
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Xxxxxxxxx Xxxxxx Focus Fund Trust Class 640917506 NBFCX
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Xxxxxxxxx Xxxxxx Guardian Fund Trust Class 640917209 NBGTX
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Xxxxxxxxx Xxxxxx International Fund Trust Class 640917704 NBITX
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Xxxxxxxxx Xxxxxx Manhattan Fund Trust Class 640917308 NBMTX
------------------------ ------------------ -------------------------------------------------- ------------------ ------------------
Xxxxxxxxx Xxxxxx Millennium Fund Trust Class 640917803 NBMOX
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Xxxxxxxxx Xxxxxx Partners Fund Trust Class 640917407 NBPTX
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Xxxxxxxxx Xxxxxx Real Estate Fund Trust Class 641224845 NBRFX
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Xxxxxxxxx Xxxxxx Regency Fund Trust Class 640917886 NBREX
------------------------ ------------------ -------------------------------------------------- ------------------ ------------------
Xxxxxxxxx Xxxxxx Socially Responsive Fund Trust 640917860 NBSTX
Class
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XXXXXXXXX XXXXXX INCOME FUNDS, TRUST CLASS
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Xxxxxxxxx Xxxxxx Limited Maturity Bond Fund 640916201 NBLTX
Trust Class
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XXXXXXXXX XXXXXX EQUITY FUNDS, ADVISOR CLASS
------------------------ ------------------ -------------------------------------------------- ------------------ ------------------
Xxxxxxxxx Xxxxxx Xxxxxxxx Fund Advisor Class 641224837 NBFVX
------------------------ ------------------ -------------------------------------------------- ------------------ ------------------
Xxxxxxxxx Xxxxxx Focus Fund Advisor Class 00000X000 NBFAX
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ACCOUNT(S) CONTRACT(S) NAME OF DESIGNATED PORTFOLIO AND CLASS CUSIP OF NASDAQ
DESIGNATED SYMBOL OF
DESIGNATED
PORTFOLIO
------------------------ ------------------ -------------------------------------------------- ------------------ ------------------
XXXXXXXXX XXXXXX EQUITY FUNDS, ADVISOR
CLASS
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Xxxxxxxxx Xxxxxx Guardian Fund Advisor Class 00000X000 NBGUX
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Xxxxxxxxx Xxxxxx Manhattan Fund Advisor Class 00000X000 NBMBX
------------------------ ------------------ -------------------------------------------------- ------------------ ---------------
Xxxxxxxxx Xxxxxx Millennium Fund Advisor Class 641224829 NBMVX
------------------------ ------------------ -------------------------------------------------- ------------------ ---------------
Xxxxxxxxx Xxxxxx Partners Fund Advisor Class 00000X000 NBPBX
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