EX-99.(B)(20)(K) 2 ex99h-vlvaneckamend5050118.htm VAN ECK AMEND #5 050118 Exhibit


FIFTH AMENDMENT TO THE SERVICE AGREEMENT AMONG
VAN ECK SECURITIES CORPORATION, PRINCIPAL LIFE INSURANCE COMPANY, PRINCIPAL NATIONAL LIFE INSURANCE COMPANY AND PRINCOR FINANCIAL SERVICES CORPORATION


For good and valuable consideration, the receipt of which is hereby acknowledged, the parties agree to amend the Service Agreement dated November 28, 2007, as amended ("the Agreement"), among Van Eck Securities Corporation, Principal Life Insurance Company, Principal National Life Insurance Company and Princor Financial Services Corporation as follows:

1.
The first sentence of Section 3 is hereby deleted and replaced with the following: "In consideration for the services to be provided by Company to the Contract owners pursuant to this Agreement, the Distributor will calculate and pay, or cause one or more of the Distributor's affiliates to pay, and Company will be entitled to receive a fee at annualized rate as stated in Exhibit A of the average aggregate amount invested in the Funds under the Contracts issued by the Variable Accounts for the applicable period."
2.
Section 11 is hereby amended by deleting the text following "If to the Distributor" and replacing it with the below:

Van Eck Securities Corporation 666 Third Avenue, 9th Floor New York, New York 10017 Attn: General Counsel

With electronic mail copy to: legalnotices@vaneck.com

3.
Exhibit A is hereby deleted in its entirety and replaced with Exhibit A attached hereto.
4.
"Principal Pivot Variable Annuity III" is hereby added to the list of Variable Annuity Contracts in Section 2 of Exhibit B.

All other terms of the Agreement shall remain in full force and effect.

[Signature page follows]







IN WITNESS WHEREOF, each of the parties hereto has caused this Amendment to be executed in its name and on its behalf by its duly authorized representative as of this date, May 1, 2018.


 
PRINCIPAL LIFE INSURANCE COMPANY
 
 
 
By: /s/ Sara Wiener
 
Name: Sara Wiener
 
Title: Senior Vice President - Annuities
 
 
 
PRINCIPAL NATIONAL LIFE INSURANCE COMPANY
 
 
 
By: /s/ Todd A. Jones
 
Name: Todd A. Jones
 
Title: Assistant Director Product Management
 
 
 
PRINCOR FINANCIAL SERVICES CORPORATION
 
 
 
By: /s/ Marty Richardson
 
Name: Marty Richardson
 
Title: Vice President Broker Dealer Operations
 
 
 
VAN ECK SECURITIES CORPORATION
 
 
 
By: /s/ Bruce J. Smith
 
Name: Bruce J. Smith
 
Title: Senior Vice President






EXHIBIT A

Name of Fund-Class
Revenue Sharing Fee
12b-1 Fee
VanEck VIP Global Hard Assets Fund - Initial Class
25 bps
none
VanEck VIP Global Hard Assets Fund - Class S
15 bps
25 bps