EXHIBIT (h)(16)(b)
AMENDMENT TO THE
FUND PARTICIPATION AGREEMENT
This Amendment, dated as of _________________, between American
International Life Assurance Company of New York, a life insurance company
organized under the laws of the State of New York (the "Company"), ▇▇▇▇▇▇▇▇▇
▇▇▇▇▇▇ Advisers Management Trust, A Delaware business trust ("Trust"), and
▇▇▇▇▇▇▇▇▇ ▇▇▇▇▇▇ Management Inc., a New York corporation ("NBMI"), is made to
the Fund Participation Agreement, dated as of May 1, 1998, as amended, among
Company, Trust, Advisers Managers Trust ("Managers Trust') and NBMI (the
"Agreement"). Terms defined in the Agreement are used herein as therein defined.
WHEREAS, effective May 1, 2000, Trust and Managers Trust completed a
transaction to eliminate its master-feeder structure, in which Trust received
the portfolio securities held by Managers Trust in redemption of the interests
of Managers Trust held by the Trust (this transaction is referred to as the
"In-Kind Redemption"); and
WHEREAS, prior to the In-Kind Redemption, the Trust, through the
Portfolios, invested all of its net investable assets in corresponding series of
Managers Trust in a "master-feeder" structure; and
WHEREAS, upon completion of the In-Kind Redemption, the Trust held and
invested directly in its own portfolio of securities and Managers Trust ceased
investment operations and was dissolved; and
WHEREAS, the parties wish to amend the Agreement to reflect the In-Kind
Redemption and the elimination of the master-feeder structure; and
WHEREAS, the parties desire to amend Schedules A and B to the Agreement
to add new Portfolios and Separate Accounts.
NOW, THEREFORE, in consideration of the promises and mutual covenants
hereinafter contained, the parties agree as follows:
1. Company hereby consents to the In-Kind Redemption.
2. Effective on May 1, 2000, the Trust assumed all of the rights,
obligations, and liabilities of Managers Trust under the Agreement.
3. Schedules A and B of the Agreement are hereby deleted and replaced with
new Schedules A and B attached hereto.
4. Except as modified hereby, all other terms and conditions of the
Agreement shall remain in full force and effect.
5. This Amendment, may be executed in two or more counterparts, each of
which shall be deemed to be an original, but all of which together shall
constitute one and the same Amendment.
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ADVISERS MANAGEMENT TRUST MANAGEMENT INC.
By:_____________________________ By:_____________________________
Name: Name:
Title: Title:
AMERICAN INTERNATIONAL LIFE
ASSURANCE COMPANY OF NEW YORK
By: _____________________________
Name:
Title:
SCHEDULE A
▇▇▇▇▇▇▇▇▇ ▇▇▇▇▇▇ Advisors Management Trusts Portfolios
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AMT Partners
AMT Limited Maturity Bond
SCHEDULE B
Separate Accounts
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Separate Account B