See All of This Company's Exhibits
EX-99.8.(J)(II)
8
ex998jii.txt
RYDEX AMENDMENT 6
AMENDMENT NUMBER 6
TO PARTICIPATION AGREEMENT
AMONG
RYDEX VARIABLE TRUST,
RYDEX DISTRIBUTORS, INC.,
AND
SECURITY BENEFIT LIFE INSURANCE COMPANY
WHEREAS, Rydex Variable Trust (the "Trust"), Rydex Distributors, Inc.
(the "Underwriter") and Security Benefit Life Insurance Company (the "Company")
are parties to a Participation Agreement dated February 12, 2001 as amended
March 11, 2002, May 1, 2003, July 1, 2003, January 30, 2004, and September 28,
2005 (the "Agreement"); and
WHEREAS, terms of the Agreement contemplate that it may be amended with
the mutual agreement of the parties; and
WHEREAS, the parties wish to change the use of the terms "Account,"
"Contract," and "Fund" in such a way that the Accounts, Contracts and Funds need
not be listed on Schedule A to the Agreement, but nonetheless, for convenience
the parties may determine to list them on Schedule A; and
WHEREAS, capitalized terms used but not defined in this Amendment,
shall have the meaning given them in the Agreement; and
WHEREAS, all other terms of the Agreement shall remain in full force
and effect;
NOW, THEREFORE, in consideration of their mutual promises, the Company,
the Trust and the Underwriter agree to amend the Agreement as follows:
1. The first paragraph of the Agreement is hereby deleted and replaced with the
following:
THIS AGREEMENT, made and entered into as of the 12th day of February,
2001 by and among SECURITY BENEFIT LIFE INSURANCE COMPANY (hereinafter the
"Company"), a Kansas Corporation on its own behalf and on behalf of each Account
(defined below), RYDEX VARIABLE TRUST (hereinafter the "Trust"), a Delaware
business trust, and RYDEX DISTRIBUTORS, INC. (hereinafter the "Underwriter"), a
Maryland corporation.
2. The third recital clause of the Agreement is hereby deleted and replaced with
the following:
WHEREAS, beneficial interests in the Trust are divided into several
series of interest or shares, each representing the interest in a
particular managed portfolio of securities and other assets, any one or
more of which may be made available under this Agreement (each such
series is hereinafter referred to as a "Fund"); and
3. The seventh recital clause of the Agreement is hereby deleted and replaced
with the following:
1
WHEREAS, the Variable Insurance Products issued or that will be issued by the
Company ("Contracts") have been or will be registered by the Company under the
1933 Act, unless such Contracts are exempt from registration thereunder; and4.
The eighth recital clause of the Agreement is hereby deleted and replaced with
the following
WHEREAS, each Account is a duly organized, validly existing segregated
asset account, established by resolution or under authority of the
Board of Directors of the Company to set aside and invest assets
attributable to the aforesaid Contracts; and
5. The tenth recital clause of the Agreement is hereby deleted and replaced with
the following:
WHEREAS, to the extent permitted by applicable insurance laws and
regulations, the Company intends to purchase shares in the Funds on
behalf of each Account to fund the aforesaid Contract, and the
Underwriter is authorized to sell such shares to the Account at net
asset value;
6. Section 1.6 is hereby deleted and replaced with the following:
The Company agrees that purchases and redemptions of Fund shares offered by the
then current prospectus of the Trust shall be made in accordance with the
provisions of such prospectus, provided however, that the provisions of the then
current Fund prospectus will not be deemed to alter any provision of Section 1.1
or 1.5.
7. The following new Section 1.11 is hereby added to the Agreement:
It is agreed that Company, on behalf of an Account, has access under this
Agreement to all Funds of the Trust and all share classes thereof (including
Funds and share classes created in the future) and that it shall not be
necessary to list the Accounts, the Contracts, the Funds or the share classes on
Schedule A. It is further agreed that a segregated asset account of the Company
shall become an "Account" hereunder as of the date such segregated asset account
first invests in a Fund. A series of the Trust shall become a "Fund" hereunder
as of the date an Account first invests in such Fund. Notwithstanding the fact
that Accounts, Contracts and Funds need not be listed on Schedule A, the parties
may, in their discretion and for convenience and ease of reference only, include
one or more Accounts, Contracts and Funds on Schedule A from time to time.
8. The existing Schedule A is deleted in its entirety and replaced with the
accompanying Schedule A
IN WITNESS WHEREOF, each of the parties hereto has caused this
Amendment Number 6 to the Agreement to be executed in its name and on its behalf
by its duly authorized representative as of the date specified below.
SECURITY BENEFIT LIFE
INSURANCE COMPANY
By its authorized officer
By: _______________________________
Name: _______________________________
Title: _______________________________
Date: _______________________________
2
RYDEX VARIABLE TRUST
By its authorized officer
By: _______________________________
Name: _______________________________
Title: _______________________________
Date: _______________________________
RYDEX DISTRIBUTORS, INC.
By its authorized officer
By: _______________________________
Name: _______________________________
Title: _______________________________
Date: _______________________________
3
SCHEDULE A
ACCOUNTS - All Accounts of the Company, including, without limitation:
Variflex Separate Account
SBL Variable Annuity Account VIII
SBL Variable Annuity Account XIV
SBL Variable Annuity Account XVII
CONTRACTS - All Contracts of the Company, including without limitation:
Variflex Variable Annuity
VIVA Variable Annuity
PGA Variable Annuity
Variflex Extra Credit Variable Annuity
Variflex LS Variable Annuity
Variflex Signature Variable Annuity
AdvisorDesigns Variable Annuity
AdvanceDesigns Variable Annuity
SecureDesigns Variable Annuity
ClassicStrategies Variable Annuity
ThirdFed Variable Annuity
EliteDesigns Variable Annuity
FUNDS - All Funds of the Trust, including without limitation:
--------------------------------------------------------------------------------
FUND CUSIP #
--------------------------------------------------------------------------------
RVT CLS AdvisorOne Amerigo 783555584
-----------------------------------------------------------------------------
RVT CLS AdvisorOne Berolina 783555378
-----------------------------------------------------------------------------
RVT CLS AdvisorOne Clermont 783555576
-----------------------------------------------------------------------------
Rydex VT Absolute Return Strategies 783555428
-----------------------------------------------------------------------------
Rydex VT Banking 783555881
-----------------------------------------------------------------------------
Rydex VT Basic Materials 783555873
-----------------------------------------------------------------------------
Rydex VT Biotechnology 783555865
-----------------------------------------------------------------------------
Rydex VT Commodities 783555436
-----------------------------------------------------------------------------
Rydex VT Consumer Products 783555857
-----------------------------------------------------------------------------
Rydex VT Dynamic Dow 783555477
-----------------------------------------------------------------------------
Rydex VT Dynamic OTC 783555659
-----------------------------------------------------------------------------
Rydex VT Dynamic Russell 2000(R) 783555360
-----------------------------------------------------------------------------
Rydex VT Dynamic S&P 500 783555675
-----------------------------------------------------------------------------
Rydex VT Dynamic Strengthening Dollar 783555451
-----------------------------------------------------------------------------
Rydex VT Dynamic Weakening Dollar 783555444
-----------------------------------------------------------------------------
Rydex VT Electronics 783555840
-----------------------------------------------------------------------------
Rydex VT Energy 783555832
-----------------------------------------------------------------------------
Rydex VT Energy Services 783555824
-----------------------------------------------------------------------------
Rydex VT EP Aggressive 783555329
-----------------------------------------------------------------------------
Rydex VT EP Conservative 783555345
-----------------------------------------------------------------------------
4
Rydex VT EP Moderate 783555337
-----------------------------------------------------------------------------
Rydex VT Europe Advantage 783555725
-----------------------------------------------------------------------------
Rydex VT Financial Services 783555816
-----------------------------------------------------------------------------
Rydex VT Government Long Bond Advantage 783555600
-----------------------------------------------------------------------------
Rydex VT Health Care 783555790
-----------------------------------------------------------------------------
Rydex VT Hedged Equity 783555410
-----------------------------------------------------------------------------
Rydex VT Internet 783555691
-----------------------------------------------------------------------------
Rydex VT Inverse Dynamic Dow 783555469
-----------------------------------------------------------------------------
Rydex VT Inverse Government Long Bond 783555709
-----------------------------------------------------------------------------
Rydex VT Inverse Mid Cap 783555543
-----------------------------------------------------------------------------
Rydex VT Inverse OTC 783555402
-----------------------------------------------------------------------------
Rydex VT Inverse Russell 2000(R) 783555550
-----------------------------------------------------------------------------
Rydex VT Inverse S&P 500 783555204
-----------------------------------------------------------------------------
Rydex VT Japan Advantage 783555717
-----------------------------------------------------------------------------
Rydex VT Large Cap Growth 783555493
-----------------------------------------------------------------------------
Rydex VT Large Cap Value 783555485
-----------------------------------------------------------------------------
Rydex VT Leisure 783555782
-----------------------------------------------------------------------------
Rydex VT Mid Cap Advantage 783555626
-----------------------------------------------------------------------------
Rydex VT Mid Cap Growth 783555568
-----------------------------------------------------------------------------
Rydex VT Mid Cap Value 783555519
-----------------------------------------------------------------------------
Rydex VT Multi-Cap Core Equity 783555386
-----------------------------------------------------------------------------
Rydex VT Nova 783555105
-----------------------------------------------------------------------------
Rydex VT OTC 783555303
-----------------------------------------------------------------------------
Rydex VT Precious Metals 783555501
-----------------------------------------------------------------------------
Rydex VT Real Estate 783555618
-----------------------------------------------------------------------------
Rydex VT Retailing 783555774
-----------------------------------------------------------------------------
Rydex VT Russell 2000(R) Advantage 783555634
-----------------------------------------------------------------------------
Rydex VT Sector Rotation 783555592
-----------------------------------------------------------------------------
Rydex VT Small Cap Growth 783555535
-----------------------------------------------------------------------------
Rydex VT Small Cap Value 783555527
-----------------------------------------------------------------------------
Rydex VT Technology 783555766
-----------------------------------------------------------------------------
Rydex VT Telecommunications 783555758
-----------------------------------------------------------------------------
Rydex VT Transportation 783555741
-----------------------------------------------------------------------------
Rydex VT U.S. Government Money Market 783555808
-----------------------------------------------------------------------------
Rydex VT Utilities 783555683
-----------------------------------------------------------------------------
Date: November 20, 2006
5