Document:

Form of Participation Agreement Addendum

 EXHIBIT 10.16 
 Form of Agreement 
  

 Participation Agreement Addendum 
 as of [            ], 200   
 by and among 
 Franklin Templeton Variable Insurance Products Trust 
 Franklin Templeton Underwriters, Inc. 
 [name of insurance company] 
 [name of insurance company distributor] 
 Franklin Templeton Variable Insurance Products Trust (the “Trust”), Franklin
Templeton Distributors, Inc. (together with the Trust, “we” or “us”) and [name of insurance company] and [name of insurance company distributor] (altogether, “you”), on your behalf and on behalf of certain Accounts,
have previously entered into a Participation Agreement dated [date] (the “Agreement”). The parties now desire to supplement the Agreement in this Addendum (the “Addendum”). Except as modified hereby, all other terms and
conditions of the Agreement shall remain in full force and effect. Unless otherwise indicated, the terms defined in the Agreement shall have the same meaning as in this Addendum. Schedules to this Addendum supplement the Schedules in the Agreement
that share the same identifying letter. 
 WHEREAS, certain short-term trading practices may have a harmful or deleterious
effect on the series of the Trust listed on Schedule C of this Addendum (the “Funds”), which serve as investment options through certain Accounts under the Contracts; and 
 WHEREAS, you acknowledge that such short-term trading practices may have a harmful or deleterious impact on the Funds; and 
 WHEREAS, the Trust has introduced a share class of the Funds with short-term redemption fees (“Class 3 shares”); and

 WHEREAS, you have implemented administrative systems that will permit you to, on behalf of the Funds, assess and collect
short-term redemption fees against owners of variable insurance contracts that offer Class 3 shares of the Funds as investment options of certain Accounts (“Class 3 Contracts”); and 
 WHEREAS, you and we agree that the imposition of short-term redemption fees on certain redemptions of Class 3 shares of the Funds may
help offset costs of the Funds associated with short-term trading redemptions. 
 NOW, THEREFORE, in consideration of our mutual
promises, you and we agree as follows: 
 1. Acceptance of Orders and Trust Policies. All orders submitted by you
with respect to each Fund shall be subject to the terms of the then current prospectus of each Fund. You represent that Contracts are intended for long-term investors. You have adopted policies and procedures designed to detect and deter short-term
trading and/or disruptive trading practices, including, but not limited to, monitoring of contract owner trading activity and imposing trading restrictions. These policies are disclosed in the Contract prospectuses. 
  

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 Form of Agreement 
  

 2. Your Systems and Records. You represent and warrant that you have,
maintain and periodically test, systems, processes and procedures to modify and track the holding period of interests of Class 3 Contract owners in Accounts corresponding to Class 3 shares of the Funds for sixty (60) days, and fulfill
relevant regulatory obligations. You shall be responsible for monitoring the holding period of interests of Class 3 Contract owners and for tracking such holding periods for purposes of assessing redemption fees in conjunction with those
transactions subject to such fees, subject to any reasonable exceptions as set forth in prospectuses for the Class 3 Contracts. You shall maintain records supporting your calculation of redemption fees payable to each Fund and shall provide the
Trust and/or its designated agents with access to, or copies of, such records upon their reasonable request. You shall calculate the amount of redemption fees payable to each Fund on a daily basis and such amount shall be netted against the
redemption proceeds payable by the Trust on behalf of the Funds for Class 3 shares of the Funds. 
 3. Actions by
You. Nothing in this Agreement shall be construed to require actions on your part that would, in your best judgment, constitute the violation or breach of any duty you owe to purchasers of variable insurance contracts established prior to
the creation of the Class 3 shares. 
 4. Acknowledgement by the Trust. The Trust acknowledges that, with the
addition of Class 3 shares to the Funds and your offering of Class 3 shares of the Funds as investment options under Class 3 Contracts, you may be subjected to unfavorable comparisons with other insurance carriers that offer the
Funds, but not Class 3 shares of the Funds, as investment options under their variable insurance products. Moreover, the Trust acknowledges that the ameliorative benefits that may be realized by the Funds in connection with your offering
Class 3 shares of the Funds as investment options under the Class 3 Contracts may benefit other Fund investors and other insurance company contract and policy owners. Notwithstanding the foregoing sentences of this paragraph 4, you
acknowledge that the Trust cannot and will not compel insurance carriers offering the Funds as investment options to offer Class 3 shares of the Funds as investment options under their variable insurance contracts. 
 5. Termination. In addition to the provisions of Section 9 of the Agreement, which shall remain in full force and effect,
if the Trust’s Board of Trustees, in the exercise of its fiduciary duties, determines to terminate this Addendum with respect to any Fund or to eliminate the Class 3 shares of any or all of the Funds, then the Trust may redeem, in
accordance with its prospectus, the Class 3 shares of the affected Fund(s) held by the Accounts on the effective date of such termination or such elimination, which shall be done in consultation with you to provide an orderly transfer; provided
further that any such liquidation of a Fund will not occur prior to up to six (6) months following written notice to you, and during this time, the Trust will cooperate reasonably in effecting a transfer of assets to another investment
vehicle pursuant to an exchange offer, SEC substitution order, SEC no-action letter, or other legal and appropriate means. 
  

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 Form of Agreement 
  

 IN WITNESS WHEREOF, you and we have caused our duly authorized officers to execute this
Addendum. 
  

							
	The Company:	  	[NAME OF INSURANCE COMPANY]	  	
				
		  	By:	  	  
	  	
		  	Name:	  		  	
		  	Title:	  		  	
	 Distributor for the
 Company

	  		  		  	
			
		  	[NAME OF INSURANCE COMPANY DISTRIBUTOR]	  	
				
		  	By:	  	  
	  	
		  	Name:	  		  	
		  	Title:	  		  	
			
	The Trust:	  	FRANKLIN TEMPLETON VARIABLE INSURANCE PRODUCTS
TRUST	  	
	 Only on behalf of each Fund.
	  		  		  	
		  	By:	  	  
	  	
		  	Name:	  	Karen L. Skidmore	  	
		  	Title:	  	Vice President	  	
			
	The Underwriter:	  	FRANKLIN TEMPLETON UNDERWRITERS, INC.	  	
				
		  	By:	  	  
	  	
		  	Name:	  		  	
		  	Title:	  		  	

  

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 Form of Agreement 
  

 Schedule B 
 Separate Accounts of the Company 
  

 4 

 Form of Agreement 
  

 Schedule C 
 Available Portfolios and Classes of Shares of the Trust; Investment Advisers 
  

			
	 Franklin Templeton Variable
 Insurance Products Trust
	 	 Investment Adviser

  

 5 

 Form of Agreement 
  

 Schedule D 
 Contracts of the Company 
  

 6Form of Funds Subscription Agreement

 EXHIBIT 10.17 
 Form of Agreement 
  

 Fund of Funds Subscription Agreement 
 Franklin Templeton Variable Insurance Products Trust 
 [name of acquiring variable insurance products fund of funds] 
 This Fund of Funds
Subscription Agreement (the “Agreement”), dated             , 200  , by and between [name of acquiring variable insurance products fund of funds] (the
“Acquiring Fund of Funds”), a registered management investment company investing in other management investment companies and existing under and by virtue of the laws of the State of
                    , and Franklin Templeton Variable Insurance Products Trust (the “VIP Trust”), a business trust organized
and existing under and by virtue of the laws of the State of Delaware (collectively, the “Parties”). 
 In
consideration of the mutual promises set forth herein, the Parties hereto agree as follows: 
 1. The VIP Trust agrees to
sell to the Acquiring Fund of Funds, and the Acquiring Fund of Funds agrees to purchase, Class 1 shares of beneficial interest of the various series of funds (individually, “Fund”; collectively, the “Funds” or “Designated
Funds”) of the VIP Trust to the extent permitted pursuant to Section 12(d)(1) of the Investment Company Act of 1940, as amended (“1940 Act”) and executing such orders on a daily basis at the net asset value next computed after
receipt by the VIP Trust or its designee of the order for the shares of the Funds and in accordance with the provisions of the then current prospectus for the VIP Trust. The VIP Trust, however, retains the right to reject an investment by the
Acquiring Fund of Funds. 
 2. The VIP Trust calculates its net asset value pursuant to rules of the Securities and Exchange
Commission (“SEC”) and the provisions of its current prospectus. The VIP Trust shall use its best efforts to calculate such net asset value on each day on which the New York Stock Exchange is open for trading and shall make reasonable
efforts to communicate such net asset value to the Acquiring Fund of Funds on a daily basis as soon as reasonably practical after the calculation is completed (normally by 6:30 p.m. Eastern Time). Notwithstanding the foregoing, the Board of Trustees
of the VIP Trust (the “Board”) may refuse to sell shares of any Fund to any person, or suspend or terminate the offering of shares of any Fund if such action is required by law or by regulatory authorities having jurisdiction, or is, in
the sole discretion of the Board acting in good faith and in light of its fiduciary duties under federal and any applicable state laws, necessary or appropriate in the best interests of the shareholders of such Fund. 
 The VIP Trust agrees to redeem, on the Acquiring Fund of Funds’ request, any full or fractional shares of the Designated Funds held by
the Acquiring Fund of Funds, executing such requests on a daily basis at the net asset value next computed after receipt by the VIP Trust or their designee of the order for redemption, except that the Funds reserve the right to suspend the right of
redemption or postpone the date of payment or satisfaction upon redemption consistent with Section 22(e) of the 1940 Act and any rules

  

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 Form of Agreement 
  

 
thereunder, and in accordance with the procedures and policies of the VIP Trust as described in the then current prospectus. The VIP Trust may redeem in cash or in-kind at its option. All
requests by the Acquiring Fund of Funds for redemptions shall be separate and distinct from any orders by the Acquiring Fund of Funds for purchases of Fund shares; the Acquiring Fund of Funds will not net purchase and redemption orders. 

For purposes of this Section 2, the VIP Trust’s transfer agent shall be the designee of the Funds for receipt of purchase and
redemption orders from Acquiring Fund of Funds, and receipt by such designee shall constitute receipt by the Funds. 
 The
Acquiring Fund of Funds agrees that all matters relating to its investment in a Fund are subject to the terms of the prospectus and Statement of Additional Information of each Fund. The Acquiring Fund of Funds further agrees that its purchases and
redemptions of Fund shares are subject to, and that the Acquiring Fund of Funds will assist the VIP Trust in implementing, the Market Timing Trading Policy and Additional Policies (as described in the VIP Trust’s prospectus) and the VIP
Trust’s restrictions on excessive and/or short term trading activity and/or purchase and redemption activity that follows a market timing pattern, and will comply with the terms of the Shareholder Information Agreement required of funds with
respect to intermediaries to be entered into with the VIP Trust. 
 3. The Acquiring Fund of Funds shall pay for Fund shares one
Business Day after receipt of an order to purchase Fund shares is made in accordance with the provisions of Section 1 hereof. “Business Day” shall mean any day on which the New York Stock Exchange is open for trading and on which the
VIP Trust calculates its net asset value pursuant to the rules of the SEC and its current prospectus. Payment shall be in federal funds transmitted by wire to the VIP Trust or to its designated custodian, which must receive such wires no later
than the close of the Reserve Bank, which is 6:00 p.m. Eastern Time. If payment in federal funds for any purchase is not received or is received by a Fund after 6:00 p.m. Eastern time on such Business Day, the Acquiring Fund of Funds shall promptly,
upon a Fund’s request, reimburse a Fund for any charges, costs, fees, interest or other expenses incurred by a Fund in connection with any advances to, or borrowings or overdrafts by the Fund, or any similar expenses incurred by the Fund, as a
result of portfolio transactions effected by the Fund based upon such purchase request. For purposes of Section 2 hereof, upon receipt by a Fund of the federal funds so wired, such monies shall cease to be the responsibility of the Acquiring
Fund of Funds and shall become the responsibility of a Fund. 
 4. The Acquiring Fund of Funds represents that it has and will
maintain policies and procedures compliant with and as required by Rule 38a-1 under the 1940 Act including, without limitation, policies and procedures that comply with any and all applicable laws, regulations, protocols and other requirements
relating to money laundering. 
  

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 Form of Agreement 
  

 5. The Acquiring Fund of Funds agrees that it is primarily responsible for assuring
compliance with the limitations and restrictions provided by Section 12(d)(1) of the 1940 Act and any rule or interpretation thereunder, as applicable to it and the Designated Funds. The Acquiring Fund of Funds represents and warrants that
it has and will continue to have personnel, and policies and procedures designed to fully implement this responsibility. With regard to the provisions of Section 12(d)(1)(B) of the 1940 Act, the Acquiring Fund of Funds shall monitor its
percentage interests in the Designated Funds and verify their accuracy prior to placing any order that could result in exceeding such percentage limitations. The Acquiring Fund of Funds agrees to certify promptly in writing, upon the VIP
Trust’s request, that the Acquiring Fund of Funds complies with the aforementioned limitations and restrictions. The VIP Trust agrees to provide to the Acquiring Fund of Funds or its designated agent, no more than once per business day, the
total net assets as of the preceding business day of each Fund. 
 6. The Acquiring Fund of Funds agrees that it shall not use
any designation comprised in whole or part of the names or marks “Franklin” or “Templeton” or any logo or other trademark relating to the VIP Trust or Franklin/Templeton Distributors, Inc. or its affiliates without prior written
consent, and upon termination of this Agreement for any reason, the Acquiring Fund of Funds shall cease all use of any such name or mark as soon as reasonably practicable. 
 7. The Acquiring Fund of Funds agrees that its shares will not be sold outside of the United States. 
 8. The Acquiring Fund of Funds represents that it will use its best efforts to comply with the diversification requirements set forth in
Section 817(h) of the Internal Revenue Code, and the rules and regulations thereunder, including without limitation Treasury Regulation 1.817-5. Upon having a reasonable basis for believing any Acquiring Fund of Funds has ceased to comply and
will not be able to comply within the grace period afforded by Regulation 1.817-5, the Acquiring Fund of Funds shall immediately notify the VIP Trust and will take all reasonable steps to adequately diversify the Acquiring Fund of Funds to achieve
compliance. 
 9. Upon termination of this Agreement, shares of Funds will no longer be available for purchase by the Acquiring
Fund of Funds. This Agreement may be terminated by any party in its entirety or with respect to one, some or all Funds for any reason by sixty (60) days’ advance written notice delivered to the other parties. This Agreement may also be
terminated by the Board of Trustees of the VIP Trust, in the exercise of its fiduciary duties, either upon its determination that such termination is a necessary and appropriate remedy for a material breach of this Agreement which includes a
violation of laws, or upon its determination to completely liquidate a Fund. 
  

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 Form of Agreement 
  

 10. This Agreement represents the entire agreement between the VIP Trust and the
Acquiring Fund of Funds and shall be construed in compliance with the 1940 Act and the rules thereunder. 
 IN WITNESS
WHEREOF, each of the Parties have caused their duly authorized officers to execute this Agreement. 
  

									
	 [NAME OF ACQUIRING VARIABLE INSURANCE
 PRODUCTS FUND OF FUNDS]
	  		  	FRANKLIN TEMPLETON VARIABLE INSURANCE PRODUCTS TRUST
					
	By:	 	  
	  		  	By:	  	  

	Name:	 		  		  	Name:	  	Karen L. Skidmore
	Title:	 		  		  	Title:	  	

  

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