EX-99.(H.16) 32 ex99_h16.txt AMENDMENT TO PARTICIPATION AGREEMENT EXHIBIT (h.16) AMENDMENT TO PARTICIPATION AGREEMENT AMONG PORTFOLIO PARTNERS, INC., AETNA LIFE INSURANCE AND ANNUITY COMPANY, AETNA INVESTMENT SERVICES, LLC AND AETNA INSURANCE COMPANY OF AMERICA This Amendment is dated as of the 5th day of March , 2002 by and between Portfolio Partners, Inc. (to be renamed ING Partners, Inc. effective May 1, 2002) (the "Fund"), Aetna Life Insurance and Annuity Company (to be renamed ING Life Insurance and Annuity Company effective May 1, 2002) (the "Adviser"), Aetna Investment Services, LLC (to be renamed ING Financial Advisers, LLC, effective May 1, 2002) (the "Distributor") and Aetna Insurance Company of America (to be renamed ING Insurance Company of America effective May 1, 2002) (the "Company") (collectively, the "Parties"). WHEREAS, the Parties entered into a Participation Agreement on December 5, 2001 (the "Agreement"); WHEREAS, the Parties desire to amend said Agreement in the manner hereinafter set forth; NOW THEREFORE, the parties hereby amend the Agreement in the following form: 1. By replacing the existing Schedule B with the Schedule B attached hereto. 2. All of the other provisions contained in the Agreement shall remain in full force and effect. IN WITNESS WHEREOF, the parties hereto have caused this instrument to be executed by their duly authorized signatories as of the date and year first above written. Portfolio Partners, Inc. By: /s/ Laurie M. Tillinghast ---------------------------------- Name: Laurie M. Tillinghast Title: P President Aetna Life Insurance and Annuity Company By: /s/ Laurie M. Tillinghast ---------------------------------- Name: Laurie M. Tillinghast Title: Vice President Aetna Investment Services, LLC By: /s/ Christina Lareau ------------------------- Name: Christina Lareau Title: Vice President Aetna Insurance Company of America By: /s/ Laurie M. Tillinghast ---------------------------------- Name: Laurie M. Tillinghast Title: Pursuant to a Delegation of Authority dated August 12, 1998 SCHEDULE B PORTFOLIO PARTNERS, INC. DESIGNATED PORTFOLIOS Alger Growth Portfolio - Initial, Adviser and Service classes Alger Aggressive Growth Portfolio - Initial, Adviser and Service classes American Century Small Cap Value Portfolio - Initial, Adviser and Service classes Baron Small Cap Growth Portfolio - Initial, Adviser and Service classes Brinson Tactical Asset Allocation Portfolio - Initial, Adviser and Service classes DSI Enhanced Index Portfolio - Initial, Adviser and Service classes Goldman Sachs(R)Capital Growth Portfolio - Initial, Adviser and Service classes JPMorgan Mid Cap Value Portfolio - Initial, Adviser and Service classes MFS Capital Opportunities Portfolio - Initial, Adviser and Service classes MFS Emerging Equities Portfolio - Initial, Adviser and Service classes MFS Global Growth Portfolio - Initial, Adviser and Service classes MFS Research Portfolio - Initial, Adviser and Service classes OpCap Balanced Value Portfolio - Initial, Adviser and Service classes PIMCO Total Return Portfolio - Initial, Adviser and Service classes Salomon Brothers Investors Value Portfolio - Initial, Adviser and Service classes Salomon Brothers Capital Portfolio - Initial, Adviser and Service classes Scudder International Growth Portfolio - Initial, Adviser and Service classes T. Rowe Price Growth Equity Portfolio - Initial, Adviser and Service classes Van Kampen Comstock Portfolio - Initial, Adviser and Service classes -------- *Goldman Sachs(R) is a registered service mark of Goldman, Sachs & Co., and it is used by agreement with Goldman, Sachs & Co.