EX-99.(8)(H)(1) 13 tm2329166d2_ex99-x8xhx1.htm EXHIBIT 99.(8)(H)(1)

 

Exhibit 99.(8)(h)(1)

 

Amendment No. 1 to
Administrative Services Agreement

Franklin Templeton Services, LLC
Pacific Life Insurance Company

 

THIS AMENDMENT is made by and between Franklin Templeton Services, LLC (the "Fund Administrator") and Pacific Life Insurance Company (the "Company").

 

WHEREAS, The Company and the Fund Administrator have entered into an Administrative Services Agreement, dated as of March 17, 2008, as may be amended from time to time (the "Agreement"), concerning certain administrative services with respect to each series ("Fund" or "Funds") of Franklin Templeton Variable Insurance Products Trust (the "Trust") listed on the Schedule B of the Agreement;

 

WHEREAS, the Company and the Fund Administrator wish to amend the Agreement for the purpose of adding certain new Funds and variable life or variable annuity insurance contracts covered by the Agreement.

 

NOW, THEREFORE, in consideration of past and prospective business relations, the Fund Administrator and the Company hereby amend the Agreement as follows:

 

1.        Schedules A and B of the Agreement are hereby deleted in its entirety and replaced with the Schedules A and B attached hereto.

 

2.        All other terms and provisions of the Agreement not amended herein shall remain in full force and effect.

 

This Amendment is executed as of March 1, 2010.

 

 

Franklin Templeton Services, LLC  Pacific Life Insurance Company
    
By: /s/ Thomas Regner  By: /s/ Anthony J. Dufault
Name: Thomas Regner  Name: Anthony J. Dufault
Title: Vice President  Title: Assistant Vice President
    
   Attest:  /s/ Audrey L. Milfs
   Name: Audrey L. Milfs
   Title: Corporate Secretary

 

 

 

 

Schedule A

 

Administrative Services

 

Maintenance of Books and Records

 

·Assist as necessary to maintain book entry records on behalf of the Funds regarding issuance to, transfer within (via net purchase orders) and redemption by the Accounts of Fund shares.

 

·Maintain general ledgers regarding the Accounts' holdings of Fund shares, coordinate and reconcile information, and coordinate maintenance of ledgers by financial institutions and other contract owner service providers.

 

Communication with the Funds

 

·Serve as the designee of the Funds for receipt of purchase and redemption orders from the Account and to transmit such orders, and payment therefore, to the Funds.

 

·Coordinate with the Funds' agents respecting daily valuation of the Funds' shares and the Accounts' units.

 

·Purchase Orders

 

-Determine net amount available for investment in the Funds.
-Deposit receipts at the Funds' custodians (generally by wire transfer).
-Notify the custodians of the estimated amount required to pay dividends or distributions.

 

·Redemption Orders

 

-Determine net amount required for redemptions by the Funds.
-Notify the custodian and Funds of cash required to meet payments.

 

·Purchase and redeem shares of the Funds on behalf of the Accounts at the then-current price in accordance with the terms of each Fund's then current prospectus.

 

·Assistance in enforcing procedures adopted on behalf of the Trust to reduce, discourage, or eliminate market timing transactions in a Fund's shares in order to reduce or eliminate adverse effects on a Fund or its shareholders.

 

Processing Distributions from the Funds

 

·Process ordinary dividends and capital gains.

 

·Reinvest the Funds' distributions.

 

2

 

 

Reports

 

·Periodic information reporting to the Funds, including, but not limited to, furnishing registration statements, prospectuses or private offering memorandum, statements of additional information, reports, solicitations for instructions, disclosure statements, sales or promotional materials and any other filings with the Securities and Exchange Commission with respect to the Accounts invested in the Funds, if necessary.

 

·Periodic information reporting about the Funds to contract owners, including necessary delivery of the Funds' prospectus and annual and semi-annual reports.

 

Fund-related Contract Owner Services

 

·Maintain adequate fidelity bond or similar coverage for all Company officers, employees, investment advisors and other individuals or entities controlled by the Company who deal with the money and/or securities of the Funds.

 

·Provide general information with respect to Fund inquiries (not including information about performance or related to sales).

 

·Provide information regarding performance of the Funds.

 

·Oversee and assist the solicitation, counting and voting of contract owner pass-through voting interests in the Funds pursuant to Fund proxy statements.

 

Other Administrative Support

 

·Provide other administrative and legal compliance support for the Funds as mutually agreed upon by the Company and the Funds or the Fund Administrator.

 

·Relieve the Funds of other usual or incidental administrative services provided to individual contract owners.

 

3

 

 

Schedule B

 

Administrative Expense Payment

 

The Fund Administrator agrees to pay the Company a fee, computed daily and paid quarterly in arrears, equal to an annual rate as set forth below, applied to the average daily net assets of the shares of the Funds held in the subaccounts of the Accounts. The payment will be computed and paid in the manner described more completely in the Agreement. Only one fee rate is in effect for each Contract; for each Contract higher fee rates supersede and replace lower fee rates, which are shown for reference only.

 

 

# Company Name Product Name/
Securities Act No.		 Funds of the Trust Fee
Rate

Date of
beginning of
period for
computation
of fee

1. Pacific Life Insurance Company

Pacific One Select

033-88458

 

Franklin Templeton VIP Founding Funds Allocation Fund – Class 4

Franklin Templeton VIP Founding Funds Allocation Fund – Class 2

 

0.15%

0.20%

 

 May 1, 2008
May 1, 2010
2. Pacific Life Insurance Company

Pacific One

033-88458

 

Franklin Templeton VIP Founding Funds Allocation Fund – Class 4

Franklin Templeton VIP Founding Funds Allocation Fund – Class 2

 

0.15%

0.20%

 

 May 1, 2008
May 1, 2010
3. Pacific Life Insurance Company

Pacific Odyssey

333-53040

 

Franklin Templeton VIP Founding Funds Allocation Fund – Class 4

Franklin Templeton VIP Founding Funds Allocation Fund – Class 2

 

0.15%

0.20%

 

 May 1, 2008
May 1, 2010
4. Pacific Life Insurance Company

Pacific Innovations

Select

333-93059

 

Franklin Templeton VIP Founding Funds Allocation Fund – Class 4

Franklin Templeton VIP Founding Funds Allocation Fund – Class 2

 

0.15%

0.20%

 

 May 1, 2008
May 1, 2010
5. Pacific Life Insurance Company

Pacific Innovations

333-93059

 

Franklin Templeton VIP Founding Funds Allocation Fund – Class 4

Franklin Templeton VIP Founding Funds Allocation Fund – Class 2

 

0.15%

0.20%

 

 May 1, 2008
May 1, 2010
6. Pacific Life Insurance Company

Pacific Portfolios

033-88460

 

Franklin Templeton VIP Founding Funds Allocation Fund – Class 4

Franklin Templeton VIP Founding Funds Allocation Fund – Class 2

 

0.15%

0.20%

 

 May 1, 2008
May 1, 2010
7. Pacific Life Insurance Company

Pacific Portfolios for

Chase

033-88460

 

Franklin Templeton VIP Founding Funds Allocation Fund – Class 4

Franklin Templeton VIP Founding Funds Allocation Fund – Class 2

 

0.15%

0.20%

 

 May 1, 2008
May 1, 2010

 

4

 

 

# Company Name Product Name/
Securities Act No.		 Funds of the Trust Fee
Rate		 Date of
beginning of
period for
computation
of fee
8. Pacific Life Insurance Company

Pacific Value

333-60833

 

Franklin Templeton VIP Founding Funds Allocation Fund – Class 4

Franklin Templeton VIP Founding Funds Allocation Fund – Class 2

 

0.15%

0.20%

 

 May 1, 2008
May 1, 2010
9. Pacific Life Insurance Company

Pacific Voyages

333-136597

 

Franklin Templeton VIP Founding Funds Allocation Fund – Class 4

Franklin Templeton VIP Founding Funds Allocation Fund – Class 2

 

0.15%

0.20%

 

 May 1, 2008
May 1, 2010
10.    Pacific Life Insurance Company

Pacific Explorer

333-141135

 

Franklin Templeton VIP Founding Funds Allocation Fund – Class 4

Franklin Templeton VIP Founding Funds Allocation Fund – Class 2

 

0.15%

0.20%

 

 May 1, 2008
May 1, 2010
11.    Pacific Life Insurance Company

Pacific Journey

333-145822

 

Franklin Templeton VIP Founding Funds Allocation Fund – Class 4

Franklin Templeton VIP Founding Funds Allocation Fund – Class 2

 

0.15%

0.20%

 

 May 1, 2008
May 1, 2010
12.    Pacific Life Insurance Company

Pacific Value Edge

333-148865

 

Franklin Templeton VIP Founding Funds Allocation Fund – Class 4

Franklin Templeton VIP Founding Funds Allocation Fund – Class 2

 

0.15%

0.20%

 

 May 1, 2008
May 1, 2010
13.    Pacific Life Insurance Company

Pacific Select Variable Annuity

033-32704

 

Franklin Templeton VIP Founding Funds Allocation Fund – Class 4

Franklin Templeton VIP Founding Funds Allocation Fund – Class 2

 

0.15%

0.20%

 

 May 1, 2008
May 1, 2010
14. Pacific Life Insurance Company Pacific Destinations
333-160772		 Franklin Templeton VIP Founding Funds Allocation Fund – Class 4 0.15% Feb. 1, 2010
     

Class 2 Shares:

Franklin Templeton VIP Founding Funds Allocation Fund

Mutual Global Discovery Securities Fund Templeton Global Bond Securities Fund

 

Class 4 Shares:

Franklin Templeton VIP Founding Funds Allocation Fund

 0.20% May 1, 2010
15.    Pacific Life Insurance Company

Pacific Select Exec
033-21754

 

 Templeton Global Bond Securities Fund – Class 2 0.20% May 1, 2010
16.    Pacific Life Insurance Company

Pacific Select Exec II

333-60461

 

 Templeton Global Bond Securities Fund – Class 2 0.20% May 1, 2010

 

5

 

 

# Company Name Product Name/
Securities Act No.		 Funds of the Trust Fee
Rate

Date of
beginning of
period for
computation
of fee

17. Pacific Life Insurance Company

Pacific Select Exec III

333-60461

 

 Templeton Global Bond Securities Fund – Class 2 0.20% May 1, 2010
18. Pacific Life Insurance Company

Pacific Select Exec IV

333-150092

 

 Templeton Global Bond Securities Fund – Class 2 0.20% May 1, 2010
19. Pacific Life Insurance Company

Pacific Select Exec V

333-150092

 

 Templeton Global Bond Securities Fund – Class 2 0.20% May 1, 2010
20. Pacific Life Insurance Company

Pacific Select Exec VI

333-153022

 

 Templeton Global Bond Securities Fund – Class 2 0.20% May 1, 2010
21. Pacific Life Insurance Company

Pacific Select Accumulator

333-118913

 

 Templeton Global Bond Securities Fund – Class 2 0.20% May 1, 2010
22. Pacific Life Insurance Company

M’s Versatile Product

333-61135

 

 Templeton Global Bond Securities Fund – Class 2 0.20% May 1, 2010
23. Pacific Life Insurance Company

M’s Versatile Product VI

333-61135

 

 Templeton Global Bond Securities Fund – Class 2 0.20% May 1, 2010
24. Pacific Life Insurance Company

M’s Versatile Product VII

333-152224

 

 Templeton Global Bond Securities Fund – Class 2 0.20% May 1, 2010
25. Pacific Life Insurance Company

M’s Versatile Product VIII

333-152224

 

 Templeton Global Bond Securities Fund – Class 2 0.20% May 1, 2010
26. Pacific Life Insurance Company

M’s Versatile Product – Survivorship

333-106969

 Templeton Global Bond Securities Fund – Class 2 0.20% May 1, 2010
27. Pacific Life Insurance Company M’s Versatile Product - Survivorship II
333-153027		 Templeton Global Bond Securities Fund – Class 2 0.20% May 1, 2010
28. Pacific Life Insurance Company

Pacific Select Estate Preserver

333-01713

 

 Templeton Global Bond Securities Fund – Class 2 0.20% May 1, 2010
29. Pacific Life Insurance Company

Pacific Select Estate Preserver II

333-20355

 

 Templeton Global Bond Securities Fund – Class 2 0.20% May 1, 2010

 

6

 

 

# Company Name Product Name/
Securities Act No.		 Funds of the Trust Fee
Rate

Date of
beginning of
period for
computation
of fee

30. Pacific Life Insurance Company

Pacific Select Estate Preserver III

333-01713

 

 Templeton Global Bond Securities Fund – Class 2 0.20% May 1, 2010
31. Pacific Life Insurance Company

Pacific Select Estate Preserver IV

333-20355

 

 Templeton Global Bond Securities Fund – Class 2 0.20% May 1, 2010
32. Pacific Life Insurance Company

Pacific Select Estate Preserver V

333-65458

 

 Templeton Global Bond Securities Fund – Class 2 0.20% May 1, 2010
33. Pacific Life Insurance Company

Pacific Select Estate Preserver VI

333-153022

 

 Templeton Global Bond Securities Fund – Class 2 0.20% May 1, 2010
34. Pacific Life Insurance Company

Pacific Select Choice

033-57908

 

 Templeton Global Bond Securities Fund – Class 2 0.20% May 1, 2010
35. Pacific Life Insurance Company

Pacific Select Performer 500

333-102902

 

 Templeton Global Bond Securities Fund – Class 2 0.20% May 1, 2010
36. Pacific Life Insurance Company

Pacific Select Estate Maximizer

333-14005

 

 Templeton Global Bond Securities Fund – Class 2 0.20% May 1, 2010
37. Pacific Life Insurance Company Pacific COLI Rider
(Not Registered)		 Templeton Global Bond Securities Fund – Class 2 0.20% May 1, 2010
38. Pacific Life Insurance Company Pacific COLI
(Not Registered)		 Templeton Global Bond Securities Fund – Class 2 0.20% May 1, 2010
39. Pacific Life Insurance Company Pacific COLI II
(Not Registered)		 Templeton Global Bond Securities Fund – Class 2 0.20% May 1, 2010
40. Pacific Life Insurance Company Pacific COLI III
(Not Registered)		 Templeton Global Bond Securities Fund – Class 2 0.20% May 1, 2010
41. Pacific Life Insurance Company Pacific COLI IV
(Not Registered)		 Templeton Global Bond Securities Fund – Class 2 0.20% May 1, 2010
42. Pacific Life Insurance Company Pacific COLI V
(Not Registered)		 Templeton Global Bond Securities Fund – Class 2 0.20% May 1, 2010
43. Pacific Life Insurance Company Pacific COLI VI
(Not Registered)		 Templeton Global Bond Securities Fund – Class 2 0.20% May 1, 2010

 

7

 

 

# Company Name Product Name/
Securities Act No.		 Funds of the Trust Fee
Rate

Date of
beginning of
period for
computation

of fee

44. Pacific Life Insurance Company Pacific COLI VII (Not Registered) Templeton Global Bond Securities Fund – Class 2 0.20% May 1, 2010
45. Pacific Life Insurance Company

Magnastar (Not Registered)

 

 Templeton Global Bond Securities Fund – Class 2 0.20% May 1, 2010
46. Pacific Life Insurance Company Magnastar - Survivorship (Not Registered) Templeton Global Bond Securities Fund – Class 2 0.20% May 1, 2010

 

8