EX-99.H PARTIC AGREE 7 ammendmentinvesco.htm AMENDMENT TO THE AGREEMENT BETWEEN PRUCO LIFE OF NEW JERSEY AND INVESCO ammendmentinvesco.htm




 

AMENDMENT TO PARTICIPATION  AGREEMENT
 
THIS AMENDMENT TO THE PARTICIPATION AGREEMENT is made as
 
of this 31st day of December, 2013 by and between AIM VARIABLE INSURANCE FUNDS (INVESCO VARIABLE INSURANCE FUNDS) ("AVIF (IVIF)"). a Delaware
 
Trust, INVESCO DISTRIBUTORS, INC.• a Delaware corporation ("INVESCO") and PRUCO LIFE INSURANCE COMPANY OF NEW JERSEY, a life insurance company organized under the laws of the State of New Jersey ("Prudential"), on its own behalf and on behalf of each segregated asset account of the Life Company as set forth on Schedule A of the Agreement Capitalized terms not otherwise defined herein shall have the meaning ascribed to them in the Agreement (defined below).
 

RECITAIS
 

WHEREAS, AVIF (IVIF) and Prudential are parties to a certain Participation Agreement dated February 14, 1997 (the "Agreement"), in which Prudential offers to the public certain variable annuity contracts and variable life insurance contracts; and
 

WHEREAS, Prudential has established operational capabilities to utilize the National Securities Clearing Corporation's ("NSCC") Mutual Fund Settlement, Entry and Registration verification system ("Fund/SERV"); and
 

WHEREAS, the parties desire to process purchase and redemption orders through the Fund/SERV system; and
 


 

herein.

 
WHEREAS. the parties now desire to further modify the Agreement as provided

 
NOW, THEREFORE, in consideration of the mutual promises set forth herein, the parties hereto agree as fo11ows:
 

 
1.
Section 2. Processing Transactions is amended to include the following disclosure before section 2.1(a) :
 

 
The parties agree that they will ordinarily use the Fund/SERV system when Prudential has the operational capacity to do so. When using Fund/SERV. the following applies:
 

 
Same Day Trades. On each Business Day, the Prudential shall aggregate all purchase orders and redemption orders for each Account received by Prudential prior to 4:00 p.m. Eastern time ("Day 1"). Prudential shall communicate to AVIF (IVIF) by Fund/SERV. the aggregate purchase order and redemption orders (if any) for each Account received by 4:00 p.m. Eastern time on Day 1 by no later than the NSCC's Defined Contribution Clearance & Settlement ("DCC&S") Cycle 8 (generally 7:30 a.m. Eastern time) on the following Business Day ("Day 2"). AVIF (IVIF) shall treat all trades communicated to
 
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AVIF (IVIF) in accordance with the foregoing as if received prior to 4:00 p.m. Eastern time on Day 1. Prudential represents that orders it receives after 4:00 p.m. Eastern time ("Day 2") wiU be transmitted to AVIF (IVIF) using the following Business Day's  net asset value.
 

2. Ratification   and  Confirmation  of  Agreement    In the event of a  conflict between the terms of this Amendment and the Agreement. it is the intention of the parties that the terms of this Amendment shall control and the Agreement shall be  interpreted on that basis. To the extent the provisions of the Agreement have not been  amended by this Amendment. the parties hereby confirm and ratify the Agreement.
 

3. Counterparts. This Amendment may be executed in two or more counterparts, each of which shall be an original and all of which together shall constitute one instrument.
 

4.        Full  Force  and  Effect.    Except  as expressly  supplemented.  amended  or consented to hereby. all of the representations. warranties. terms. covenants and conditions of the Agreement shall remain unamended and shall continue to be in full force and effect.
 

IN WITNESS WHEREOF, the undersigned have executed this Amendment as of the date first above written.


                                    AIM VARIABLE INSURANCE FUNDS
                                    (INVESCO VARIABLE INSURANCE FUNDS)


                                     By: /s/ John M. Zerr
                                    --------------------------------------
                                    Name:  John M. Zerr
                                    Title: Senior Vice President


                                     INVESCO DISTRIBUTORS, INC.


                                     By: /s/ Brian Thorp
                                     -------------------------------------
                                     Name:  Brian Thorp
                                     Title: Vice President


                                     PRUCO LIFE INSURANCE COMPANY OF NEW JERSEY


                                     By: /s/ Timothy Cronin
                                    -------------------------------------
                                     Name: Timothy Cronin
                                     Title: Executive Vice President


 
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