EXHIBIT 1.A.(8)(c)(iv)
Amendment No. 16 to Participation Agreement among WRL Series Fund, Inc.,
PFL Life Insurance Company, AUSA Life Insurance Company, Inc.
and Peoples Benefit Life Insurance Company
dated December 1, 2000
AMENDMENT NO. 16 TO
PARTICIPATION AGREEMENT AMONG
WRL SERIES FUND, INC.,
PFL LIFE INSURANCE COMPANY,
AUSA LIFE INSURANCE COMPANY, INC.,
PEOPLES BENEFIT LIFE INSURANCE COMPANY AND
TRANSAMERICA OCCIDENTAL LIFE INSURANCE COMPANY
Amendment No. 16 to the Participation Agreement among WRL Series Fund,
Inc., (the "Fund"), PFL Life Insurance Company ("PFL"), AUSA Life Insurance
Company, Inc. ("AUSA"), Peoples Benefit Life Insurance Company ("Peoples") and
Transamerica Occidental Life Insurance Company ("Transamerica") dated July 1,
1992, as amended ("Participation Agreement").
WHEREAS, PFL has established the Legacy Builder Variable Life Separate
Account, a separate account for purpose of selling variable life insurance
policies and Transamerica has established the Transamerica Occidental Life
Separate Account VUL-4, a separate account for purpose of selling variable life
insurance policies, and each such variable life insurance policy will be funded
by the WRL Series Fund, Inc.;
WHEREAS, PFL will offer the Estate Enhancer Variable Life insurance policy
through the Legacy Builder Variable Life Separate Account and Transamerica will
offer the TransSurvivor Life variable universal life policy through the
Transamerica Occidental Life Separate Account VUL-4; and
WHEREAS, each of the current parties is desirous of adding a new sub-
section 1.9. under Article I. Sale of Fund Shares of the Participation
Agreement;
NOW, THEREFORE, IT IS HEREBY AGREED that PFL, through its separate account,
Legacy Builder Variable Life Separate Account, and Transamerica, through its
Transamerica Occidental Life Separate Account VUL-4, will purchase and redeem
shares issued by WRL Series Fund, Inc., subject to the terms and conditions of
the Participation Agreement. It is also agreed that Schedule A to the
Participation Agreement is hereby amended to add the Transamerica Occidental
Life Separate Account VUL-4 as an additional "Account;" to add the Estate
Enhancer Variable Life insurance policy issued by PFL and TransSurvivor Life
variable universal life policy issued by Transamerica to the list of "Policies,"
and to add the WRL Gabelli Global Growth Portfolio, WRL Great Companies -
Global2 Portfolio, and WRL LKCM Capital Growth Portfolio to the list of
"Portfolios" of the WRL Series Fund, Inc.
IT IS ALSO HEREBY AGREED that the following will be added as a new sub-
section 1.9. under Article I of the Agreement:
"The Fund shall use its best efforts to provide closing net asset value,
dividend and capital gain information on a per-share basis to the
Company on each Business Day. Any material errors in the calculation
of net asset value, dividend and/or capital gain information shall be
reported immediately upon discovery to the Company. Non-material
errors will be corrected in the next Business Day's net asset value
per share. The Company will adjust the number of shares purchased or
redeemed for the Account to reflect the correct net asset value per
share."
IN WITNESS WHEREOF, each of the parties has caused this Amendment to be
executed in its name and on its behalf by its duly authorized representative as
of December 1, 2000.
PFL LIFE INSURANCE COMPANY WRL SERIES FUND, INC.
By its authorized officer By its authorized officer
By: /s/ Larry N. Norman By: /s/ John K. Carter
-------------------- ------------------
Larry N. Norman John K. Carter
Title: President Title: Vice President, Secretary
and Counsel
AUSA LIFE INSURANCE PEOPLES BENEFIT LIFE
COMPANY, INC. INSURANCE COMPANY
By its authorized officer By its authorized officer
By: /s/ William L. Busler By: /s/ Larry N. Norman
--------------------- --------------------
William L. Busler Larry N. Norman
Title: Vice President Title: Executive Vice President
TRANSAMERICA OCCIDENTAL LIFE
INSURANCE COMPANY
By its authorized officer
By: /s/ Priscilla I. Hechler
------------------------
Priscilla I. Hechler
Title: Assistant Vice President and Assistant Secretary
AMENDED SCHEDULE A
Effective December 1, 2000
Account(s), Policy(ies) and Portfolio(s)
Subject to the Participation Agreement
Accounts: PFL Endeavor Variable Annuity Account
PFL Endeavor Platinum Variable Annuity Account
AUSA Endeavor Variable Annuity Account
Mutual Fund Account
PFL Life Variable Annuity Account A
PFL Life Variable Annuity Account C
PFL Life Variable Annuity Account D
PFL Retirement Builder Variable Annuity Account
AUSA Life Insurance Company, Inc. Separate Account C
Peoples Benefit Life Insurance Company Separate Account V
Legacy Builder Variable Life Separate Account
AUSA Series Life Account
Transamerica Occidental Life Separate Account VUL-3
PFL Life Variable Annuity Account E
Separate Account VA F
Transamerica Occidental Life Separate Account VUL-4
Policies: PFL Endeavor Variable Annuity
PFL Endeavor Platinum Variable Annuity
AUSA Endeavor Variable Annuity
Atlas Portfolio Builder Variable Annuity
Extra Variable Annuity
Access Variable Annuity
Retirement Income Builder II Variable Annuity
AUSA & Peoples - Advisor's Edge Variable Annuity
Peoples - Advisor's Edge Select Variable Annuity
Legacy Builder II
Legacy Builder Plus
AUSA Financial Freedom Builder
Transamerica Elite
Privilege Select Variable Annuity
ARK Select Variable Annuity
Estate Enhancer Variable Life
TransSurvivor Life Variable Universal Life
AMENDED SCHEDULE A (continued)
Portfolios: WRL Series Fund, Inc.
WRL Janus Growth
WRL AEGON Bond
WRL. J.P. Morgan Money Market
WRL Janus Global
WRL LKCM Strategic Total Return
WRL VKAM Emerging Growth
WRL Alger Aggressive Growth
WRL AEGON Balanced
WRL Federated Growth & Income
WRL C.A.S.E. Growth
WRL NWQ Value Equity
WRL GE International Equity
WRL GE U.S. Equity
WRL J.P. Morgan Real Estate Securities
WRL T. Rowe Price Dividend Growth
WRL T. Rowe Price Small Cap
WRL Goldman Sachs Growth
WRL Goldman Sachs Small Cap
WRL Pilgrim Baxter Mid Cap Growth
WRL Salomon All Cap
WRL Dreyfus Mid Cap
WRL Third Avenue Value
WRL Dean Asset Allocation
WRL Great Companies - America sm
WRL Great Companies - Technology sm
WRL Value Line Aggressive Growth
WRL Gabelli Global Growth
WRL Great Companies - Global/2/
WRL LKCM Capital Growth