EXHIBIT (8)(a)(3)
AMENDMENT NO. 28 TO PARTICIPATION AGREEMENT
(AEGON/TRANSAMERICA)
AMENDMENT NO. 28 TO
PARTICIPATION AGREEMENT AMONG
AEGON/TRANSAMERICA SERIES FUND, INC.,
TRANSAMERICA LIFE INSURANCE COMPANY,
TRANSAMERICA FINANCIAL LIFE INSURANCE COMPANY,
PEOPLES BENEFIT LIFE INSURANCE COMPANY,
TRANSAMERICA OCCIDENTAL LIFE INSURANCE COMPANY AND
TRANSAMERICA LIFE INSURANCE AND ANNUITY COMPANY
Amendment No. 28 to the Participation Agreement among AEGON/Transamerica
Series Fund, Inc., (the "Fund"), Transamerica Life Insurance Company
("Transamerica"), Transamerica Financial Life Insurance Company ("TFLIC"),
Peoples Benefit Life Insurance Company ("Peoples"), Transamerica Occidental
Life Insurance Company ("TOLIC"), and Transamerica Life Insurance and Annuity
Company ("TALIAC") dated July 1, 1992, as amended ("Participation Agreement").
WHEREAS, Transamerica and TFLIC, has registered or will register certain
variable annuity contracts (the "Policies") under the Securities Act of 1933;
and
WHEREAS, Transamerica has, by resolution of its Board of Directors, duly
organized and established the Separate Account VA R, the Separate Account VA S
and the Separate Account Q; and TFLIC has, by resolution of its Board of
Directors, duly organized and established the Separate Account QNY (the
"Accounts"), as segregated asset accounts to receive, set aside and invest
assets attributable to net premiums and payments received under the Policies
and such Policies will be partly funded by the Fund; and
WHEREAS, Transamerica and TFLIC has registered or will register the Accounts
as unit investment trusts under the Investment Company Act of 1940, as amended;
and
WHEREAS, to the extent permitted by applicable insurance law and
regulations, Transamerica and TFLIC intend to purchase shares in one or more of
the portfolios of the Fund to fund its contracts on behalf of the Accounts, as
specified in Schedule A attached to this Amendment, as such Schedule A is
amended by this Amendment No. 28, and as Schedule A may be amended from time to
time; and
NOW, THEREFORE, IT IS HEREBY AGREED that Transamerica, through its Policies,
Flexible Premium Variable Annuity - C, Flexible Premium Variable Annuity - D
and Flexible Premium Variable Annuity - B; and TFLIC, through its Policy,
Flexible Premium Variable Annuity - E, will purchase and redeem shares issued
by the Fund, subject to the terms and conditions of the Participation
Agreement. It is also hereby agreed that Schedule A to this Agreement will be
amended to add the Flexible Premium Variable Annuity - C, the Flexible Premium
Variable Annuity - D, the Flexible Premium Variable Annuity - B and the
Flexible Premium Variable Annuity - E as additional "Policies"; and to add the
Separate Account VA R, the Separate Account VA S, the Separate Account Q and
the Separate Account QNY as additional "Accounts".
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, 2003.
TRANSAMERICA LIFE INSURANCE AEGON/TRANSAMERICA SERIES
COMPANY COMPANY FUND, INC.
By its authorized officer By its authorized officer
By: /s/ ▇▇▇▇▇ ▇. ▇▇▇▇▇▇ By: /s/ ▇▇▇▇ ▇. ▇▇▇▇▇▇
-------------------------------- --------------------------------
▇▇▇▇▇ ▇. ▇▇▇▇▇▇ ▇▇▇▇ ▇. ▇▇▇▇▇▇
Title: President Title: Vice President, Secretary
and General Counsel
TRANSAMERICA FINANCIAL PEOPLESBENEFIT LIFE INSURANCE
LIFE INSURANCE COMPANY COMPANY
By its authorized officer By its authorized officer
By: /s/ ▇▇▇▇▇ ▇. ▇▇▇▇▇▇ By: /s/ ▇▇▇▇▇ ▇. ▇▇▇▇▇▇
---------------------------------- ---------------------------------
▇▇▇▇▇ ▇. ▇▇▇▇▇▇ ▇▇▇▇▇ ▇. ▇▇▇▇▇▇
Title: Vice President Title: Executive Vice President
TRANSAMERICA OCCIDENTAL LIFE TRANSAMERICA LIFE INSURANCE
INSURANCE COMPANY AND ANNUITY COMPANY
By its authorized officer By its authorized officer
By: /s/ ▇▇▇▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇▇ By: /s/ ▇▇▇▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇▇
---------------------------------- ---------------------------------
▇▇▇▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇▇
Title: Assistant Vice President Title: Assistant Vice President
and and
Assistant Secretary Assistant Secretary
AMENDED SCHEDULE A
Effective December 1, 2003
Account(s), Policy(ies) and Portfolio(s)
Subject to the Participation Agreement
Accounts: Separate Account VA B
Separate Account VA BNY
Mutual Fund Account
Separate Account VA A
Separate Account VA C
Separate Account VA D
Retirement Builder Variable Annuity Account
Transamerica Financial Life Insurance Company Separate Account C
Peoples Benefit Life Insurance Company Separate Account V
Legacy Builder Variable Life Separate Account
TFLIC Series Life Account
TFLIC Series Annuity Account
Transamerica Occidental Life Separate Account VUL-3
Separate Account VA E
Separate Account VA F
Transamerica Occidental Life Separate Account VUL-4
Transamerica Occidental Life Separate Account VUL-5
Transamerica Life Insurance and Annuity Company on behalf
of its Separate Account VA-8
Separate Account VA J
Transamerica Occidental Life Separate Account VUL-6
TA PPVUL 1
Separate Account K
Separate Account H
Separate Account G
Separate Account VA-2LNY
Separate Account VA-2L
Separate Account VL A
AES Private Placement VA Separate Account
Separate Account VA L
Separate Account VA P
PFL Corporate Account One
Separate Account VA R
Separate Account VA S
Separate Account Q
Separate Account QNY
Policies: Transamerica Landmark Variable Annuity
Transamerica Landmark NY Variable Annuity
Atlas Portfolio Builder Variable Annuity
Transamerica EXTRA Variable Annuity
Transamerica Access Variable Annuity
Retirement Income Builder II Variable Annuity
TFLIC & Peoples--Advisor's Edge Variable Annuity
Peoples - Advisor's Edge Select Variable Annuity
Legacy Builder Plus
TFLIC Financial Freedom Builder
Transamerica Elite
Privilege Select Variable Annuity
Estate Enhancer Variable Life
TransSurvivor Life Variable Universal Life
TransMark Optimum Choice Variable Annuity
TransUltra(R) Variable Universal Life
TFLIC Freedom Elite Builder
TFLIC Premier Variable Annuity
AMENDED SCHEDULE A (continued)
Policies (continued):
Immediate Income Builder II
Premier Asset Builder Variable Annuity
TransAccumulator VUL cv
TFLIC Freedom Wealth Protector
Advantage V
Retirement Income Builder Variable Annuity
Retirement Income Builder--BAI Variable Annuity
Dreyfus Advisor Advantage Variable Annuity
Dreyfus Access Advantage Variable Annuity
Dreyfus/Transamerica Triple Advantage(up arrow) Variable Annuity (NY)
Dreyfus/Transamerica Triple Advantage(up arrow) Variable Annuity
Transamerica Variable Life
Advisor's Edge Select Private Placement
Transamerica Preferred Advantage Variable Annuity
Flexible Premium Variable Annuity - A
Portfolio Select Variable Annuity
Flexible Premium Variable Annuity - B
Flexible Premium Variable Annuity - C
Flexible Premium Variable Annuity - D
Flexible Premium Variable Annuity - E
Portfolios: AEGON/Transamerica Series Fund, Inc. - Each Portfolio has an Initial Class of Shares and
a Service Class of Shares
AEGON ▇▇▇▇
▇▇▇▇▇ Aggressive Growth
Asset Allocation - Conservation Portfolio
Asset Allocation - Moderate Portfolio
Asset Allocation - Moderate Growth Portfolio
Asset Allocation - Moderate Growth Portfolio
American Century International
American Century Income & Growth
BlackRock Large Cap Value
BlackRock Mid Cap Growth
BlackRock Global Science & Technology Opportunities
Capital Guardian Global
Capital Guardian U.S. Equity
Capital Guardian Value
Clarion Real Estate Securities
Dreyfus Mid Cap
Dreyfus Small Cap Value
Federated Growth & Income
GE U.S. Equity
Great Companies - America /sm/
Great Companies - Technology /sm/
▇.▇. ▇▇▇▇▇▇ Enhanced Index
Janus Balanced
Janus Global
JanJLKCM Strategic Total Return ennison Growth us Growth
▇▇▇▇▇▇▇ Growth
MFS High Yield
Munder Net50
PBHG/NWQ Value Select
AMENDED SCHEDULE A (continued)
Portfolios: AEGON/Transamerica Series Fund, Inc. (continued)
PBHG Mid Cap Growth
PIMCO Total Return
Protected Principal Stock
Salomon All Cap
Select+ Aggressive
Select+ Conservative
Select+ Growth & Income
▇▇▇▇▇▇▇▇▇ Great Companies Global
▇. ▇▇▇▇ Price Equity Income
▇. ▇▇▇▇ Price Growth Stock
▇. ▇▇▇▇ Price Small Cap
Third Avenue Value
Transamerica Equity
Transamerica Convertible Securities
Transamerica Growth Opportunities
Transamerica Money Market
Transamerica U.S. Government Securities
Transamerica Value Balanced
▇▇▇ ▇▇▇▇▇▇ Active International Allocation
▇▇▇ ▇▇▇▇▇▇ Asset Allocation
▇▇▇ ▇▇▇▇▇▇ Emerging Growth