Santa Clara California Participation Agreement is a legally binding contract that outlines the terms and conditions of the agreement between Variable Insurance Products Fund, III and Lincoln Life and Annuity Company of New York. This agreement specifies how the parties will work together and engage in various activities related to the investment of funds. The Santa Clara California Participation Agreement serves as a comprehensive document that ensures both parties are aligned and have a clear understanding of their roles and responsibilities. It covers areas such as investment strategies, risk management, reporting requirements, and dispute resolution. The agreement may include different types or variations depending on the specific circumstances or objectives of the parties involved. These variations could include: 1. Investment Strategy Agreement: This type of participation agreement focuses on defining the investment goals, strategies, and restrictions applicable to the funds. It outlines the roles of Variable Insurance Products Fund, III and Lincoln Life and Annuity Company of New York in implementing and managing the investment strategy. 2. Risk Management Agreement: This agreement discusses the risk management framework and procedures that will be followed by both parties. It includes measures to monitor and mitigate investment risks associated with Variable Insurance Products Fund, III and Lincoln Life and Annuity Company of New York's activities. 3. Reporting and Disclosure Agreement: This type of participation agreement outlines the reporting requirements and disclosure obligations of both parties. It ensures that timely and accurate information is shared between Variable Insurance Products Fund, III and Lincoln Life and Annuity Company of New York regarding fund performance, fees, and other relevant details. 4. Dispute Resolution Agreement: This agreement focuses on establishing a procedure for resolving any disputes that may arise between Variable Insurance Products Fund, III and Lincoln Life and Annuity Company of New York. It may outline methods such as mediation or arbitration to facilitate resolution and avoid litigation. In summary, the Santa Clara California Participation Agreement between Variable Insurance Products Fund, III, Lincoln Life and Annuity Company of New York is a crucial legal document that sets out the terms and conditions for their collaboration. By creating a clear understanding of expectations and responsibilities, these agreements provide a solid foundation for a successful partnership in managing and investing funds.