Amendment No.2 to

Administrative Services Agreement

Franklin Templeton Services, LLC

Principal Life Insurance Company

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

WHEREAS, the Company and the Fund Administrator have entered into an Administrative Services Agreement, dated as of December 14, 2007, 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 Schedule B of the Agreement;

WHEREAS, the Company and the Fund Administrator wish to amend the Agreement for the purpose of adding some new Funds and certain new variable life insurance or variable annuity 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:

l .Schedule B of the Agreement is hereby deleted in its entirety and replaced with the Schedule 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 April 20, 2011.

FRANKLIN TEMPLETON SERVICES, LLC

By: /s/ Thomas Regner

Name: Thomas Regner

Title: Vice President

PRINCIPAL LIFE INSURANCE COMPANY

By: /s/ Sara Wiener

Name: Sara Wiener

Title: Director - Product Management

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.

#	Company	Product Name/ Registration No.	Funds of the Trust (All Class 2 Shares unless otherwise Noted)	Fee Rate	Date of Beginning of Period for Computation of Fee
1.	Principal Life Insurance Company	Benefit Variable Universal Life (BVUL) 333-89446	Franklin Income Securities Fund Franklin Rising Dividends Securities Fund Franklin Small Cap Value Securities Fund Franklin Strategic Income Securities Fund Mutual Global Discovery Securities Fund Mutual Shares Securities Fund Templeton Developing Markets Securities Fund Templeton Foreign Securities Fund Templeton Global Bond Securities Fund	0.10%	11/01/07
			Franklin U.S. Government Fund	0.10%	11/01/09
2.	Principal Life Insurance Company	Benefit Variable Universal Life (BVUL II) 333-49363	Franklin Income Securities Fund Franklin Rising Dividends Securities Fund Franklin Small Cap Value Securities Fund Franklin Strategic Income Securities Fund Mutual Global Discovery Securities fund Mutual Shares Securities Fund Templeton Developing Markets Securities Fund Templeton Foreign Securities Fund Templeton Global Bond Securities Fund	0.10%	11/01/07
			Franklin U.S. Government Fund	0.10%	11/01/09
3.	Principal Life Insurance Company	Executive Variable Universal Life (EVUL) 333-81714	Mutual Global Discovery Securities Fund Mutual Shares Securities Fund Franklin Income Securities Fund Franklin Rising Dividends Securities Fund Franklin Strategic Income Securities Fund Franklin Small Cap Value Securities Fund Templeton Developing Markets Securities Fund Templeton Foreign Securities Fund Templeton Global Bond Securities Fund	0.10%	11/01/07
			Franklin U.S. Government Fund	0.10%	11/01/09

#	Company	Product Name/ Registration No.	Funds of the Trust (All Class 2 Shares unless otherwise Noted)	Fee Rate	Date of Beginning of Period for Computation of Fee
4.	Principal Life Insurance	Executive Variable Universal Life II (EVULII) 333-149215	Franklin Income Securities Fund Franklin Rising Dividends Securities Fund Franklin Small Cap Value Securities Fund Franklin Strategic Income Securities Fund Mutual Global Discovery Securities Fund Mutual Shares Securities Fund Templeton Developing Markets Securities Fund Templeton Foreign Securities Fund Templeton Global Bond Securities Fund	0.10%	11/01/07
			Franklin U.S. Government Fund	0.10%	11/01/09
5.	Principal Life Insurance Company	Principal Freedom Variable Annuity 333-128079	Templeton Growth Securities Fund	0.10%	11/01/07
6.	Principal Life Insurance Company	Principal Variable Universal Life Income II 333-146896	Franklin Rising Dividends Securities Fund Mutual Shares Securities Fund	0.10%	11/01/07
			Franklin Small Cap Value Securities Fund Templeton Global Bond Securities Fund	0.10%	05/01/11
7.	Principal Life Insurance Company	Investment Plus Variable Annuity 333-116220	Franklin Small Cap Value Securities Fund	0.10%	11/01/09