AMENDMENT TO THE PARTICIPATION AGREEMENT AMONG PROTECTIVE LIFE INSURANCE COMPANY, GOLDMAN SACHS VARIABLE INSURNACE TRUST AND GOLDMAN SACHS & CO. LLC
Exhibit 99.(h)(3)(vii)
AMENDMENT TO THE PARTICIPATION AGREEMENT
AMONG PROTECTIVE LIFE INSURANCE COMPANY,
▇▇▇▇▇▇▇ ▇▇▇▇▇ VARIABLE INSURNACE TRUST
AND ▇▇▇▇▇▇▇ ▇▇▇▇▇ & CO. LLC
THIS AMENDMENT TO THE PARTICIPATION AGREEMENT (the “Amendment”) is made as of this 23rd day of April, 2024 by and between ▇▇▇▇▇▇▇ ▇▇▇▇▇ VARIABLE INSURANCE TRUST, a statutory trust formed under the laws of Delaware (the “Trust”), ▇▇▇▇▇▇▇ ▇▇▇▇▇ & Co. LLC, a New York limited liability company (the “Distributor”), and PROTECTIVE LIFE INSURANCE COMPANY, a Tennessee life insurance company (the “Company”). Capitalized terms not otherwise defined herein shall have the meaning ascribed to them in the Agreement (defined below).
RECITALS
WHEREAS, the Trust, Distributor and Company are parties to a certain Participation Agreement dated December 19, 2003, as amended (the “Agreement”), in which the Company offers to the public certain variable annuity contracts and variable life insurance contracts; and
WHEREAS, the parties desire to amend Schedule 1 and Schedule 3 of the Agreement; and
WHEREAS, the parties now desire to further modify the Agreement as provided herein.
NOW, THEREFORE, in consideration of the mutual promises set forth herein, the parties hereto agree as follows:
1. Schedule 1 of the Agreement is hereby deleted in its entirety and replaced with Schedule 1 attached hereto.
2. Schedule 3 of the Agreement is hereby deleted in its entirety and replaced with Schedule 3 attached hereto.
3. Ratification and Confirmation of Agreement. In the event of a conflict between the terms of this Amendment and the Agreement, it is the intention of the parties that the terms of this Amendment shall control and the Agreement shall be interpreted on that basis. To the extent the provisions of the Agreement have not been amended by this Amendment, the parties hereby confirm and ratify the Agreement.
4. Counterparts. This Amendment may be executed in two or more counterparts, each of which shall be an original and all of which together shall constitute one instrument.
5. Full Force and Effect. Except as expressly supplemented, amended or consented to hereby, all of the representations, warranties, terms, covenants and conditions of the Agreement shall remain unamended and shall continue to be in full force and effect.
WITNESS WHEREOF, the undersigned have executed this Amendment as of the date first above written.
▇▇▇▇▇▇▇ ▇▇▇▇▇ VARIABLE INSURANCE TRUST
| By: | /s/ ▇▇▇▇▇ ▇▇▇▇▇ | |
| Name: | ▇▇▇▇▇ ▇▇▇▇▇ | |
| Title: | Managing Director | |
| ▇▇▇▇▇▇▇ ▇▇▇▇▇ & CO. LLC |
| By: | /s/ ▇▇▇▇▇ ▇▇▇▇▇▇ | |
| Name: | ▇▇▇▇▇ ▇▇▇▇▇▇ | |
| Title: | Managing Director | |
| PROTECTIVE LIFE INSURANCE COMPANY | ||
| By: | /s/ ▇▇▇▇▇ ▇▇▇▇▇▇ | |
| Name: | ▇▇▇▇▇ ▇▇▇▇▇▇ | |
| Title: | Chief Product Officer, Retirement Division | |
1
Schedule 1
Accounts of the Company
Investing in the Trust
| Name of Account | Date Established | SEC
1940 Act Registration Number |
Type
of Product Supported by Account |
| The Protective Variable Annuity Separate Account | 12/23/1993 | 811-08108 | Variable Annuities |
| The Protective Variable Life Separate Account | 2/15/1995 | 811-07337 | Variable Life |
| PLICO Variable Annuity Account S | 7/02/2020 | 811-23593 | Variable Annuities |
| Protective COLI PPVUL | 4/14/2020 | Unregistered | PPVUL |
| Protective BOLI PPVUL | 9/1/2020 | Unregistered | PPVUL |
| Protective COLI PPVUL SV | 4/14/2020 | Unregistered | PPVUL |
| Protective COLI VUL | 2/25/2020 | 811-23604 | Registered COLI VUL |
Schedule 3
Trust Classes and Series
Available Under each Class of Contracts
Effective April 15, 2024, the following Trust Classes and Series are available under the Contracts:
| Contracts Marketing Name | Trust Classes and Series |
Elements Access Elements Classic Elements Plus MileageCredit Protective Advantage Protective Aspirations Protective Dimensions Protective Dimensions II Protective Dimensions III Protective Dimensions IV Protective Dimensions V Protective Investors Benefit Advisor Variable Annuity Protective Investors Benefit Advisory VUL Protective Investors Choice VUL Protective Premiere Executive Protective Premiere I Protective Premiere II Protective Premiere III Protective Premiere Protector Protective Premiere Provider Protective Premiere Survivor Protective Preserver Protective Preserver II Protective Single Premium Plus Protective Strategic Objectives Protective Strategic Objectives II Protective Variable Annuity (L,B,C Series) Protective Variable Annuity Protective Variable Annuity II Protective Variable Annuity II B Series Protective Variable Annuity Investor Series ProtectiveAccess ProtectiveAccess XL ProtectiveRewards B2A ProtectiveRewards Elite ProtectiveRewards II ProtectiveValues Access ProtectiveValues Advantage ProtectiveValues Variable Annuity ▇▇▇▇▇▇ Genesis Advisory Variable Annuity ▇▇▇▇▇▇ Genesis Variable Annuity Transitions |
All available ▇▇▇▇▇▇▇ ▇▇▇▇▇ Variable Insurance Trust Funds (Institutional and Service Shares) |
| Protective Private Placement VUL (Protective COLI PPVUL separate account, Protective BOLI PPVUL separate account, Protective COLI PPVUL SV separate account) | All available ▇▇▇▇▇▇▇ ▇▇▇▇▇ Variable Insurance Trust Funds (Institutional and Service Shares) |
| Protective Executive Benefits Registered VUL | All available ▇▇▇▇▇▇▇ ▇▇▇▇▇ Variable Insurance Trust Funds (Institutional and Service Shares) |