EX-99.(8)(W)(1) 7 a52968bexv99wx8yxwyx1y.htm EX-99.(8)(W)(1) exv99wx8yxwyx1y
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 February ___, 2010.
         
Franklin Templeton Services, LLC
  Pacific Life Insurance Company    
 
        
By:
  By:    
 
  
 
    
Name:
  Name:    
Title: Vice President
  Title: Assistant Vice President    
 
        
 
  Attest:    
 
 
 
    
 
  Name:    
 
  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.
                     
                    Date of
                    beginning of
                    period for
        Product Name/       Fee   computation of
#   Company Name   Securities Act No.   Funds of the Trust   Rate   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        
 
                    
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        
 
                    
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        
 
                    
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        
 
                    
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        
 
                    
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        
 
                    
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        

4

 

                     
                    Date of
                    beginning of
                    period for
        Product Name/       Fee   computation of
#   Company Name   Securities Act No.   Funds of the Trust   Rate   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		        
 
                    
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		        
 
                    
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		        
 
                    
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		        
 
                    
12.
  Pacific Life
Insurance Company 		  Pacific Value Edge
333-148865 		  Franklin Templeton VIP Founding
Funds Allocation Fund — Class 4		        
 
                    
 
          Franklin Templeton VIP Founding
Found Allocation Fund — Class 2		        
 
                    
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		        
 
                    
14.
  Pacific Life
Insurance Company 		  Pacific Destinations
333-160772 		  Franklin Templeton VIP Founding
Funds Allocation Fund — Class 4		        
 
                    
 
          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		        
 
                    
15.
  Pacific Life
Insurance Company 		  Pacific Select Exec
033-21754 		  Templeton Global Bond Securities
Fund — Class 2		        
 
                    
16.
  Pacific Life
Insurance Company 		  Pacific Select Exec II
333-60461 		  Templeton Global Bond Securities
Fund — Class 2		        

5

 

                     
                    Date of
                    beginning of
                    period for
        Product Name/       Fee   computation of
#   Company Name   Securities Act No.   Funds of the Trust   Rate   fee
17.
  Pacific Life
Insurance Company 		  Pacific Select Exec III
333-60461 		  Templeton Global Bond Securities Fund — Class 2        
 
                    
18.
  Pacific Life
Insurance Company 		  Pacific Select Exec IV
333-150092 		  Templeton Global Bond Securities Fund — Class 2        
 
                    
19.
  Pacific Life
Insurance Company 		  Pacific Select Exec V
333-150092 		  Templeton Global Bond Securities Fund — Class 2        
 
                    
20.
  Pacific Life
Insurance Company 		  Pacific Select Exec VI
333-153022 		  Templeton Global Bond Securities Fund — Class 2        
 
                    
21.
  Pacific Life
Insurance Company 		  Pacific Select Accumulator
333-118913 		  Templeton Global Bond Securities Fund — Class 2        
 
                    
22.
  Pacific Life
Insurance Company 		  M’s Versatile Product
333-61135 		  Templeton Global Bond Securities Fund — Class 2        
 
                    
23.
  Pacific Life
Insurance Company 		  M’s Versatile Product VI
333-61135 		  Templeton Global Bond Securities Fund — Class 2        
 
                    
24.
  Pacific Life
Insurance Company 		  M’s Versatile Product VII
333-152224 		  Templeton Global Bond Securities Fund — Class 2        
 
                    
25.
  Pacific Life
Insurance Company 		  M’s Versatile Product VIII
333-152224 		  Templeton Global Bond Securities Fund — Class 2        
 
                    
26.
  Pacific Life
Insurance Company 		  M’s Versatile Product - Survivorship
333-106969 		  Templeton Global Bond Securities Fund — Class 2        
 
                    
27.
  Pacific Life
Insurance Company 		  M’s Versatile Product - Survivorship II
333-153027 		  Templeton Global Bond Securities Fund — Class 2        
 
                    
28.
  Pacific Life
Insurance Company 		  Pacific Select Estate Preserver
333-01713 		  Templeton Global Bond Securities Fund — Class 2        
 
                    
29.
  Pacific Life
Insurance Company 		  Pacific Select Estate Preserver II
333-20355 		  Templeton Global Bond Securities Fund — Class 2        
 
                    
30.
  Pacific Life
Insurance Company 		  Pacific Select Estate Preserver III
333-01713 		  Templeton Global Bond Securities Fund — Class 2        

6

 

                     
                    Date of
                    beginning of
                    period for
        Product Name/       Fee   computation of
#   Company Name   Securities Act No.   Funds of the Trust   Rate   fee
31.
  Pacific Life
Insurance Company 		  Pacific Select Estate Preserver IV
333-20355 		  Templeton Global Bond Securities Fund — Class 2        
 
                    
32.
  Pacific Life
Insurance Company 		  Pacific Select Estate Preserver V
333-65458 		  Templeton Global Bond Securities Fund — Class 2        
 
                    
33.
  Pacific Life
Insurance Company 		  Pacific Select Estate Preserver VI
333-153022 		  Templeton Global Bond Securities Fund — Class 2        
 
                    
34.
  Pacific Life
Insurance Company 		  Pacific Select Choice
033-57908 		  Templeton Global Bond Securities Fund — Class 2        
 
                    
35.
  Pacific Life
Insurance Company 		  Pacific Select Performer 500
333-102902 		  Templeton Global Bond Securities Fund — Class 2        
 
                    
36.
  Pacific Life
Insurance Company 		  Pacific Select Estate Maximizer
333-14005 		  Templeton Global Bond Securities Fund — Class 2        
 
                    
37.
  Pacific Life
Insurance Company 		  Pacific COLI Rider (Not Registered)   Templeton Global Bond Securities Fund — Class 2        
 
                    
38.
  Pacific Life
Insurance Company 		  Pacific COLI
(Not Registered) 		  Templeton Global Bond Securities Fund — Class 2        
 
                    
39.
  Pacific Life
Insurance Company 		  Pacific COLI II
(Not Registered) 		  Templeton Global Bond Securities Fund — Class 2        
 
                    
40.
  Pacific Life
Insurance Company 		  Pacific COLI III
(Not Registered) 		  Templeton Global Bond Securities Fund — Class 2        
 
                    
41.
  Pacific Life
Insurance Company 		  Pacific COLI IV
(Not Registered) 		  Templeton Global Bond Securities Fund — Class 2        
 
                    
42.
  Pacific Life
Insurance Company 		  Pacific COLI V
(Not Registered) 		  Templeton Global Bond Securities Fund — Class 2        
 
                    
43.
  Pacific Life
Insurance Company 		  Pacific COLI VI
(Not Registered) 		  Templeton Global Bond Securities Fund — Class 2        
 
                    
44.
  Pacific Life
Insurance Company 		  Pacific COLI VII
(Not Registered) 		  Templeton Global Bond Securities Fund — Class 2        

7

 

                     
                    Date of
                    beginning of
                    period for
        Product Name/       Fee   computation of
#   Company Name   Securities Act No.   Funds of the Trust   Rate   fee
45.
  Pacific Life
Insurance Company 		  Magnastar
(Not Registered) 		  Templeton Global Bond Securities Fund — Class 2        
 
                    
46.
  Pacific Life
Insurance Company 		  Magnastar - Survivorship
(Not Registered) 		  Templeton Global Bond Securities Fund — Class 2        

8