<SEC-DOCUMENT>0001193125-18-014912.txt : 20180122
<SEC-HEADER>0001193125-18-014912.hdr.sgml : 20180122
<ACCEPTANCE-DATETIME>20180119173904
ACCESSION NUMBER:		0001193125-18-014912
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20180118
ITEM INFORMATION:		Entry into a Material Definitive Agreement
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20180122
DATE AS OF CHANGE:		20180119

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			LINCOLN NATIONAL CORP
		CENTRAL INDEX KEY:			0000059558
		STANDARD INDUSTRIAL CLASSIFICATION:	LIFE INSURANCE [6311]
		IRS NUMBER:				351140070
		STATE OF INCORPORATION:			IN
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-06028
		FILM NUMBER:		18538327

	BUSINESS ADDRESS:	
		STREET 1:		150 N RADNOR CHESTER RD
		CITY:			RADNOR
		STATE:			PA
		ZIP:			19087
		BUSINESS PHONE:		4845831400

	MAIL ADDRESS:	
		STREET 1:		150 N RADNOR CHESTER RD
		CITY:			RADNOR
		STATE:			PA
		ZIP:			19087
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>d527980d8k.htm
<DESCRIPTION>8-K
<TEXT>
<HTML><HEAD>
<TITLE>8-K</TITLE>
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 <P STYLE="line-height:1.0pt;margin-top:0pt;margin-bottom:0pt;border-bottom:1px solid #000000">&nbsp;</P>
<P STYLE="line-height:3.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1px solid #000000">&nbsp;</P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:18pt; font-family:Times New Roman" ALIGN="center"><B>UNITED STATES </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:18pt; font-family:Times New Roman" ALIGN="center"><B>SECURITIES AND EXCHANGE COMMISSION </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>WASHINGTON, DC 20549 </B></P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center>
<P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%">&nbsp;</P></center> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:18pt; font-family:Times New Roman" ALIGN="center"><B>FORM <FONT
STYLE="white-space:nowrap">8-K</FONT> </B></P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center>
<P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%">&nbsp;</P></center> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>CURRENT
REPORT </B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>PURSUANT TO SECTION 13 OR 15(d) </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>OF THE SECURITIES EXCHANGE ACT OF 1934 </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>Date of report (Date of earliest event reported): January&nbsp;18, 2018 </B></P>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center> <P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%">&nbsp;</P></center>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:24pt; font-family:Times New Roman" ALIGN="center"><B>Lincoln National Corporation </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>(Exact Name of Registrant as Specified in its Charter) </B></P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center>
<P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%">&nbsp;</P></center> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD VALIGN="top" ALIGN="center"><B>Indiana</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="center"><B><FONT STYLE="white-space:nowrap">1-6028</FONT></B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="center"><B><FONT STYLE="white-space:nowrap">35-1140070</FONT></B></TD></TR>
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<TD VALIGN="top" ALIGN="center"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>(State or Other Jurisdiction</B></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>of Incorporation)</B></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="center"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>(Commission</B></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>File Number)</B></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="center"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>(IRS Employer</B></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>Identification No.)</B></P></TD></TR>
</TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD VALIGN="top" ALIGN="center"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>150 N. Radnor Chester Road</B></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>Radnor, PA</B></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center"><B>19087</B></TD></TR>
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<TD VALIGN="top" ALIGN="center"><B>(Address of Principal Executive Offices)</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="center"><B>(Zip Code)</B></TD></TR>
</TABLE> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>Registrant&#146;s telephone number, including area code: (484)
<FONT STYLE="white-space:nowrap">583-1400</FONT> </B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>Not Applicable </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>(Former Name or Former Address, if Changed Since Last Report) </B></P>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center> <P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%">&nbsp;</P></center>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Check the appropriate box below if the Form <FONT STYLE="white-space:nowrap">8-K</FONT> filing is intended to simultaneously satisfy the filing
obligation of the registrant under any of the following provisions: </P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">&#9744;</TD>
<TD ALIGN="left" VALIGN="top">Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">&#9744;</TD>
<TD ALIGN="left" VALIGN="top">Soliciting material pursuant to Rule <FONT STYLE="white-space:nowrap">14a-12</FONT> under the Exchange Act (17 CFR <FONT STYLE="white-space:nowrap">240.14a-12)</FONT> </TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">&#9744;</TD>
<TD ALIGN="left" VALIGN="top"><FONT STYLE="white-space:nowrap">Pre-commencement</FONT> communications pursuant to Rule <FONT STYLE="white-space:nowrap">14d-2(b)</FONT> under the Exchange Act (17 CFR
<FONT STYLE="white-space:nowrap">240.14d-2(b))</FONT> </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TR style = "page-break-inside:avoid">
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">&#9744;</TD>
<TD ALIGN="left" VALIGN="top"><FONT STYLE="white-space:nowrap">Pre-commencement</FONT> communications pursuant to Rule <FONT STYLE="white-space:nowrap">13e-4(c)</FONT> under the Exchange Act (17 CFR
<FONT STYLE="white-space:nowrap">240.13e-4(c))</FONT> </TD></TR></TABLE> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Indicate by check mark whether the registrant is an emerging growth company as defined
in Rule&nbsp;405 of the Securities Act of 1933 (&#167;230.405 of this chapter) or <FONT STYLE="white-space:nowrap">Rule&nbsp;12b-2</FONT> of the Securities Exchange Act of 1934 <FONT STYLE="white-space:nowrap">(&#167;240.12b-2</FONT> of this
chapter). </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Emerging growth company&nbsp;&nbsp;&#9744; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">If an
emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section&nbsp;13(a)&nbsp;of the Exchange
Act.&nbsp;&nbsp;&#9744; </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P> <P STYLE="line-height:1.0pt;margin-top:0pt;margin-bottom:0pt;border-bottom:1px solid #000000">&nbsp;</P>
<P STYLE="line-height:3.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1px solid #000000">&nbsp;</P>

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<TD WIDTH="9%" VALIGN="top" ALIGN="left"><B>Item&nbsp;1.01</B></TD>
<TD ALIGN="left" VALIGN="top"><B>Entry into a Material Definitive Agreement. </B></TD></TR></TABLE> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">On January&nbsp;18, 2018, The Lincoln National Life
Insurance Company (&#147;<U>Purchaser</U>&#148;), a wholly owned subsidiary of Lincoln National Corporation (&#147;<U>Lincoln</U>&#148;), and for the limited purposes set forth therein, Lincoln, entered into a Master Transaction Agreement (the
&#147;<U>Master Transaction Agreement</U>&#148;) with Liberty Mutual Insurance Company (&#147;<U>LMIC</U>&#148;), Liberty Mutual Fire Insurance Company (collectively with LMIC, &#147;<U>Sellers</U>&#148;), for the limited purposes set forth therein,
Liberty Mutual Group Inc. (&#147;<U>Liberty</U>&#148;), Protective Life Insurance Company (&#147;<U>Reinsurer</U>&#148;), and for the limited purposes set forth therein, Protective Life Corporation (&#147;<U>Protective</U>&#148;), to acquire all of
the issued and outstanding capital stock of Liberty Life Assurance Company of Boston (the &#147;<U>Company</U>&#148;), which currently operates Liberty&#146;s Group Benefits Business (the &#147;<U>Group Business</U>&#148;) and Individual Life and
Annuity Business (the &#147;<U>Life Business</U>&#148;), for cash consideration of approximately $3.3 billion (the &#147;<U>Transaction</U>&#148;). </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The
consideration includes approximately $1.446 billion total net investment for the Group Business, including a purchase price of $1.021 billion and $425 million in required capital. The remaining components of the payment to Sellers include $410
million of individual life and annuity value paid by Reinsurer, $1.202 billion associated with excess capital in the Company and $211 million of tax items. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Additionally, pursuant to the Master Transaction Agreement, the Company and Reinsurer agreed to enter into a reinsurance agreement (the &#147;<U>Reinsurance
Agreement</U>&#148;) and related ancillary documents at the closing of the Transaction. On the terms and subject to the conditions of the Reinsurance Agreement, the Company will cede to Reinsurer, effective as of the closing of the Transaction, the
insurance policies relating to the Life Business. The aggregate statutory reserves of the Company to be ceded to Reinsurer as of the closing of the Transaction are expected to be approximately $13 billion. To support its obligations under the
Reinsurance Agreement, Reinsurer will establish a trust account for the benefit of Purchaser. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The Transaction is subject to the satisfaction or waiver of
customary closing conditions, including regulatory approvals and the execution of the Reinsurance Agreement and related ancillary documents. The Master Transaction Agreement and other transaction documents contain certain customary representations
and warranties made by each of Sellers, Purchaser and Reinsurer, and certain customary covenants regarding the Company, the Group Business and the Life Business, and provide for indemnification, among other things, for breaches of those
representations, warranties and covenants. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The foregoing description of the Master Transaction Agreement and the transactions contemplated thereby is
qualified in its entirety by reference to the Master Transaction Agreement, which is filed as Exhibit 2.1 to this Form <FONT STYLE="white-space:nowrap">8-K</FONT> and is incorporated by reference herein. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The Master Transaction Agreement has been included in this report to provide investors with information regarding its terms and conditions. It is not intended
to provide any other factual information about Purchaser, Sellers and Reinsurer or any of their respective subsidiaries or affiliates. The representations, warranties and covenants contained in the Master Transaction Agreement were made only for
purposes of that agreement and as of specific dates, were solely for the benefit of the parties to the Master Transaction Agreement, may be subject to limitations agreed upon by the contracting parties, including being qualified by confidential
disclosures made for the purposes of allocating contractual risk among the parties to the Master Transaction Agreement instead of establishing these matters as facts, and may be subject to standards of materiality applicable to the contracting
parties that differ from those applicable to investors. Investors are not third-party beneficiaries under the Master Transaction Agreement and should not rely on the representations, warranties and covenants or any descriptions thereof as
characterizations of the actual state of facts or condition of Purchaser, Sellers and Reinsurer or any of their respective subsidiaries or affiliates. Moreover, information concerning the subject matter of the representations and warranties may
change after the date of the Master Transaction Agreement, which subsequent information may or may not be fully reflected in Lincoln&#146;s public disclosures. </P>

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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Forward Looking Statements </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">This Form <FONT STYLE="white-space:nowrap">8-K</FONT> contains certain forward-looking statements that are based upon current expectations and certain
unaudited pro forma information that is presented for illustrative purposes only and involves certain risks and uncertainties within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements include,
but are not limited to, plans, objectives, expectations and intentions and other statements contained in this news announcement that are not historical facts, including statements identified by words such as &#147;expects,&#148;
&#147;anticipates,&#148; &#147;intends,&#148; &#147;plans,&#148; &#147;believes,&#148; &#147;seeks,&#148; &#147;estimates,&#148; &#147;outlook&#148; or words of similar meanings. These statements are based on Lincoln&#146;s current expectations and
beliefs and various assumptions. There can be no assurance that Lincoln will realize these expectations or that these beliefs will prove correct. Numerous factors, many of which are beyond Lincoln&#146;s control, could cause actual results to differ
materially from those expressed as forward-looking statements. These risks and uncertainties include, but are not limited to, the possibility that expected benefits associated with the proposed transaction may not be realized as expected, or at all;
the proposed transaction not being timely completed, if completed at all, including risks relating to the timing, receipt and terms and conditions of any required governmental or regulatory approvals for the proposed transaction; prior to the
completion of the proposed transaction, Lincoln&#146;s or Liberty&#146;s business experiencing disruptions due to transaction-related uncertainty or other factors making it more difficult to establish or maintain relationships with employees,
suppliers, customers and other business partners or governmental entities; the parties being unable to successfully implement integration strategies or to achieve anticipated synergies and operational efficiencies related to the proposed transaction
within the expected time frames or at all; the failure to realize the expected benefits from Lincoln&#146;s business process initiatives, including its strategic digitization initiative; the risks, challenges and uncertainties associated with
Lincoln&#146;s capital management plan, expense reduction initiatives and other action which may include acquisitions, divestitures or restructurings; uncertainties surrounding domestic and global economic conditions; and other factors that are
described in Lincoln&#146;s filings on forms <FONT STYLE="white-space:nowrap">8-K,</FONT> <FONT STYLE="white-space:nowrap">10-Q</FONT> and <FONT STYLE="white-space:nowrap">10-K</FONT> with the U.S. Securities and Exchange Commission. Lincoln does
not undertake any obligation to update any forward-looking statements contained in this Form <FONT STYLE="white-space:nowrap">8-K</FONT> as a result of new information, future events or otherwise. </P>
<P STYLE="font-size:18pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD WIDTH="9%" VALIGN="top" ALIGN="left"><B>Item&nbsp;9.01</B></TD>
<TD ALIGN="left" VALIGN="top"><B>Financial Statements and Exhibits. </B></TD></TR></TABLE> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">(d) &nbsp;&nbsp;&nbsp;&nbsp;Exhibits. </P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD VALIGN="bottom" NOWRAP> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-bottom:1.00pt solid #000000; width:39.10pt; font-size:8pt; font-family:Times New Roman"><B>Exhibit&nbsp;No.</B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="border-bottom:1.00pt solid #000000"> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:8pt; font-family:Times New Roman"><B>Description</B></P></TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" ALIGN="center">2.1</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"><A HREF="d527980dex21.htm">Master Transaction Agreement, dated as of January 18, 2018, by and among The Lincoln National Life Insurance Company, for the limited purposes set forth therein, Lincoln National Corporation, Liberty Mutual Insurance
 Company, Liberty Mutual Fire Insurance Company, for the limited purposes set forth therein, Liberty Mutual Group Inc., Protective Life Insurance Company and for the limited purposes set forth therein, Protective Life Corporation* </A></TD></TR>
</TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD WIDTH="3%" VALIGN="top" ALIGN="left">*</TD>
<TD ALIGN="left" VALIGN="top">Pursuant to Item 601 (b)(2) of Regulation <FONT STYLE="white-space:nowrap">S-K,</FONT> the schedules have been omitted and will be furnished to the SEC supplementally upon request. </TD></TR></TABLE>

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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>SIGNATURES </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned
hereunto duly authorized. </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Date: January&nbsp;19, 2018</P></TD>
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<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" COLSPAN="3"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><B>Lincoln National Corporation</B></P></TD></TR>
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<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">By:</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #000000">/s/ Randal J. Freitag</TD></TR>
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<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Name: Randal J. Freitag</P></TD></TR>
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<TD VALIGN="bottom">&nbsp;</TD>
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<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Title: &nbsp;&nbsp;Executive Vice President and Chief Financial Officer</P></TD></TR>
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<DOCUMENT>
<TYPE>EX-2.1
<SEQUENCE>2
<FILENAME>d527980dex21.htm
<DESCRIPTION>EX-2.1
<TEXT>
<HTML><HEAD>
<TITLE>EX-2.1</TITLE>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right"><B>Exhibit 2.1 </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right"><B></B><B><I>Execution Version</I></B><B> </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>MASTER TRANSACTION AGREEMENT </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">by and among </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>LIBERTY MUTUAL
INSURANCE COMPANY, </B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>LIBERTY MUTUAL FIRE INSURANCE COMPANY, </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>LIBERTY MUTUAL GROUP INC., </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">solely for purposes of <U>Section&nbsp;8.12</U>, <U>Section&nbsp;8.17</U>, <U>Section&nbsp;8.20</U>, <U>Section&nbsp;8.27</U> and
<U>Section&nbsp;14.16</U> </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">(and <U>Article&nbsp;I</U> and <U>Article&nbsp;XIV</U> to the extent relating thereto), </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>THE LINCOLN NATIONAL LIFE INSURANCE COMPANY, </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>LINCOLN NATIONAL CORPORATION, </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">solely for purposes of <U>Section&nbsp;8.12</U>, <U>Section&nbsp;9.05</U> and <U>Section&nbsp;14.15</U> (and <U>Article&nbsp;I</U> and <U>
</U></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><U>Article&nbsp;XIV</U> to the extent relating thereto), </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>PROTECTIVE LIFE INSURANCE COMPANY, </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">and </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>PROTECTIVE LIFE
CORPORATION </B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">solely for purposes of <U>Section&nbsp;8.12</U> and <U>Section&nbsp;14.17</U> (and <U>Article&nbsp;I</U> and
<U>Article&nbsp;XIV</U> to the extent </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">relating thereto) </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">Dated as of January&nbsp;18, 2018 </P>

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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><U>TABLE OF CONTENTS </U></P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


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<TD WIDTH="86%"></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:8pt">
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>Page</B></TD>
<TD VALIGN="bottom">&nbsp;</TD></TR>


<TR STYLE="font-size:1pt">
<TD HEIGHT="16" COLSPAN="7"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="6" ALIGN="center">Article&nbsp;I</TD>
<TD VALIGN="top">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16" COLSPAN="7"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="6" ALIGN="center">DEFINITIONS</TD>
<TD VALIGN="top">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD>
<TD HEIGHT="16" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Section&nbsp;1.01</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Definitions</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">3</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Section&nbsp;1.02</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Interpretation</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">38</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16" COLSPAN="7"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="6" ALIGN="center">Article&nbsp;II</TD>
<TD VALIGN="top">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16" COLSPAN="7"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="6" ALIGN="center">TRANSFER AND ACQUISITION OF SHARES AND ASSETS</TD>
<TD VALIGN="top">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD>
<TD HEIGHT="16" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Section&nbsp;2.01</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Place and Date of Closing</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">39</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Section&nbsp;2.02</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Purchase and Sale of Company Shares</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">40</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Section&nbsp;2.03</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Purchase and Sale of Acquired Group Benefits Assets</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">40</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Section&nbsp;2.04</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Purchase and Sale of Acquired Life Assets</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">40</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Section&nbsp;2.05</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Assignment and Assumption of Assumed Group Benefits Liabilities</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">40</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Section&nbsp;2.06</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Assignment and Assumption of Assumed Life Liabilities</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">40</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Section&nbsp;2.07</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Reinsurance Transfers and Surplus Notes</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">40</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Section&nbsp;2.08</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Closing Purchase Price Payment</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">41</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Section&nbsp;2.09</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Closing Net Settlement Payments</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">41</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Section&nbsp;2.10</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Additional Deliveries at Closing</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">45</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Section&nbsp;2.11</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Post-Closing Purchase Price Adjustment</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">46</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Section&nbsp;2.12</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Post-Closing Net Settlement Adjustment</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">50</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Section&nbsp;2.13</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Inconsistencies</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">53</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Section&nbsp;2.14</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Section 338(h)(10) Purchase Price Adjustment</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">54</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Section&nbsp;2.15</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Withholding</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">57</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16" COLSPAN="7"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="6" ALIGN="center">Article&nbsp;III</TD>
<TD VALIGN="top">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16" COLSPAN="7"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="6" ALIGN="center">SELLERS&#146; REPRESENTATIONS AND WARRANTIES TO PURCHASER AND REINSURER</TD>
<TD VALIGN="top">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD>
<TD HEIGHT="16" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Section&nbsp;3.01</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Incorporation and Authority of Sellers, Affiliates of Sellers and the Transferred Companies</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">57</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Section&nbsp;3.02</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Non-Contravention</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">59</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Section&nbsp;3.03</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Sellers&#146; Consents and Approvals</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">59</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Section&nbsp;3.04</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Life Separate Accounts</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">59</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Section&nbsp;3.05</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Brokers or Finders</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">60</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Section&nbsp;3.06</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">No Other Agreements&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">61</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR></TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">i </P>


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<TD WIDTH="88%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16" COLSPAN="7"></TD></TR>

<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="6" ALIGN="center">Article&nbsp;IV</TD>
<TD VALIGN="top">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16" COLSPAN="7"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="6" ALIGN="center">SELLERS&#146; REPRESENTATIONS AND WARRANTIES TO PURCHASER</TD>
<TD VALIGN="top">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD>
<TD HEIGHT="16" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Section&nbsp;4.01</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Capital Structure of the Transferred Companies; Ownership and Transfer of the Company Shares</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">61</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Section&nbsp;4.02</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Acquired Group Benefits Assets</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">62</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Section&nbsp;4.03</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Compliance with Law; Permits</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">62</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Section&nbsp;4.04</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Company Financial Statements</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">62</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Section&nbsp;4.05</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Internal Controls</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">63</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Section&nbsp;4.06</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">No Undisclosed Liabilities</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">64</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Section&nbsp;4.07</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Litigation; Orders</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">64</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Section&nbsp;4.08</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Absence of Certain Changes and Events</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">64</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Section&nbsp;4.09</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Sufficiency</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">65</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Section&nbsp;4.10</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Company Policies</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">65</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Section&nbsp;4.11</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Material Contracts</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">66</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Section&nbsp;4.12</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Assigned Group Benefits Contracts</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">67</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Section&nbsp;4.13</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Group Benefits Appraisal</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">68</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Section&nbsp;4.14</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Insurance Regulatory Matters</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">68</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Section&nbsp;4.15</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Examinations</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">68</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Section&nbsp;4.16</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Sales Practices</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">69</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Section&nbsp;4.17</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Reinsurance</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">69</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Section&nbsp;4.18</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Affiliate Transactions</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">70</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Section&nbsp;4.19</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Policy Tax Matters</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">70</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Section&nbsp;4.20</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Taxes</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">72</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Section&nbsp;4.21</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Investment Assets</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">73</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Section&nbsp;4.22</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Intellectual Property</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">74</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Section&nbsp;4.23</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Data Protection; IT Systems</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">74</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Section&nbsp;4.24</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Insurance</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">75</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Section&nbsp;4.25</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Group Benefits Plans</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">75</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Section&nbsp;4.26</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Producers</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">76</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Section&nbsp;4.27</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Group Benefits Labor Matters</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">77</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Section&nbsp;4.28</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Policy ERISA Matters</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">78</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Section&nbsp;4.29</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Real Property</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">78</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Section&nbsp;4.30</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Rating Agencies</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">79</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Section&nbsp;4.31</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Organizational Documents</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">79</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Section&nbsp;4.32</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Article&nbsp;V Representations</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">79</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16" COLSPAN="7"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="6" ALIGN="center">Article&nbsp;V</TD>
<TD VALIGN="top">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16" COLSPAN="7"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="6" ALIGN="center">SELLERS&#146; REPRESENTATIONS AND WARRANTIES TO REINSURER</TD>
<TD VALIGN="top">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD>
<TD HEIGHT="16" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Section&nbsp;5.01</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Acquired Life Assets</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">79</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Section&nbsp;5.02</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Compliance with Law; Life Permits</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">79</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Section&nbsp;5.03</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Company Financial Statements</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">80</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Section&nbsp;5.04</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Internal Controls</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">81</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Section&nbsp;5.05</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">No Undisclosed Liabilities&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">81</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR></TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">ii </P>


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<TD></TD>
<TD></TD></TR>

<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Section&nbsp;5.06</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Litigation; Orders</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">82</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Section&nbsp;5.07</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Absence of Certain Changes and Events</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">82</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Section&nbsp;5.08</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Sufficiency</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">82</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Section&nbsp;5.09</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Reinsured Contracts</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">83</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Section&nbsp;5.10</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Assigned Life Contracts</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">83</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Section&nbsp;5.11</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Life Appraisal</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">84</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Section&nbsp;5.12</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Insurance Regulatory Matters</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">84</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Section&nbsp;5.13</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Examinations</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">84</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Section&nbsp;5.14</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Sales Practices</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">85</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Section&nbsp;5.15</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Reinsurance</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">85</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Section&nbsp;5.16</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Policy Tax Matters</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">86</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Section&nbsp;5.17</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Life Investment Assets</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">87</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Section&nbsp;5.18</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Life Intellectual Property</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">88</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Section&nbsp;5.19</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Data Protection; IT Systems</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">88</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Section&nbsp;5.20</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Life Plans</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">89</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Section&nbsp;5.21</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Life Producers</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">90</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Section&nbsp;5.22</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Life Labor Matters</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">91</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16" COLSPAN="7"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="6" ALIGN="center">Article&nbsp;VI</TD>
<TD VALIGN="top">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16" COLSPAN="7"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="6" ALIGN="center">REPRESENTATIONS AND WARRANTIES OF PURCHASER</TD>
<TD VALIGN="top">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD>
<TD HEIGHT="16" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Section&nbsp;6.01</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Incorporation and Authority of Purchaser and Affiliates of Purchaser</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">92</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Section&nbsp;6.02</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Non-Contravention</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">93</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Section&nbsp;6.03</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Purchaser&#146;s Consents and Approvals</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">93</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Section&nbsp;6.04</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Compliance with Law</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">93</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Section&nbsp;6.05</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Litigation; Orders</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">94</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Section&nbsp;6.06</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Purchase Not for Distribution</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">94</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Section&nbsp;6.07</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Financial Statements; Financial Capacity</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">94</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Section&nbsp;6.08</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Ratings</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">94</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Section&nbsp;6.09</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Brokers or Finders</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">95</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Section&nbsp;6.10</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">No Other Agreements</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">95</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16" COLSPAN="7"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="6" ALIGN="center">Article&nbsp;VII</TD>
<TD VALIGN="top">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16" COLSPAN="7"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="6" ALIGN="center">REPRESENTATIONS AND WARRANTIES OF REINSURER</TD>
<TD VALIGN="top">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD>
<TD HEIGHT="16" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Section&nbsp;7.01</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Incorporation and Authority of Reinsurer and Affiliates of Reinsurer</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">95</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Section&nbsp;7.02</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Non-Contravention</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">96</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Section&nbsp;7.03</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Reinsurer&#146;s Consents and Approvals</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">96</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Section&nbsp;7.04</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Compliance with Law</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">97</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Section&nbsp;7.05</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Litigation; Orders</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">97</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Section&nbsp;7.06</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Financial Statements; Financial Capacity</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">97</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Section&nbsp;7.07</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Brokers or Finders</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">98</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Section&nbsp;7.08</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">No Other Agreements&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">98</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR></TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">iii </P>


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<TD VALIGN="top" COLSPAN="6" ALIGN="center">Article&nbsp;VIII</TD>
<TD VALIGN="top">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16" COLSPAN="7"></TD></TR>
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<TD VALIGN="top" COLSPAN="6" ALIGN="center">ADDITIONAL AGREEMENTS OF SELLERS, PURCHASER AND REINSURER</TD>
<TD VALIGN="top">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD>
<TD HEIGHT="16" COLSPAN="4"></TD></TR>
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<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Section&nbsp;8.01</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Conduct of Business</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">98</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Section&nbsp;8.02</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Access to Information; Confidentiality; Books and Records</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">102</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Section&nbsp;8.03</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Reasonable Best Efforts; Regulatory Matters</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">104</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Section&nbsp;8.04</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Third-Party Consents</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">108</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Section&nbsp;8.05</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Shared Contracts</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">110</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Section&nbsp;8.06</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Multiparty Agreements</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">111</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Section&nbsp;8.07</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Intercompany Obligations and Arrangements</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">111</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Section&nbsp;8.08</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Guarantees</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">112</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Section&nbsp;8.09</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Company Extraordinary Transactions</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">112</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Section&nbsp;8.10</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Transferred Investment Assets</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">112</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Section&nbsp;8.11</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Use of Names; Cooperation</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">114</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Section&nbsp;8.12</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Employee Non-Solicitation</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">117</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Section&nbsp;8.13</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">No Financing Condition</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">119</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Section&nbsp;8.14</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Restructuring Transactions</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">119</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Section&nbsp;8.15</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Further Assurances</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">119</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Section&nbsp;8.16</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Acquisition Proposals</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">120</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Section&nbsp;8.17</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Non-Compete</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">121</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Section&nbsp;8.18</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Rating Evaluation Services</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">124</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Section&nbsp;8.19</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Mutual Release</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">124</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Section&nbsp;8.20</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Replacements</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">126</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Section&nbsp;8.21</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Extraordinary Dividend</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">126</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Section&nbsp;8.22</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Legacy Products</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">127</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Section&nbsp;8.23</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Discovered Contracts</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">127</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Section&nbsp;8.24</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Filing Cooperation</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">129</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Section&nbsp;8.25</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Appraisals</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">129</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Section&nbsp;8.26</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Reinsurance Contracts</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">129</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Section&nbsp;8.27</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Barco</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">130</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Section&nbsp;8.28</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">License</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">131</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Section&nbsp;8.29</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Purchaser-Reinsurer License</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">132</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Section&nbsp;8.30</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Updates to Seriatim File</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">132</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16" COLSPAN="7"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="6" ALIGN="center">Article&nbsp;IX</TD>
<TD VALIGN="top">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16" COLSPAN="7"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="6" ALIGN="center">EMPLOYEE MATTERS</TD>
<TD VALIGN="top">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD>
<TD HEIGHT="16" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Section&nbsp;9.01</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Group Benefits Employee Matters</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">133</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Section&nbsp;9.02</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Life Employee Matters</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">138</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Section&nbsp;9.03</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">WARN Act</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">144</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Section&nbsp;9.04</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Sellers Equity Awards</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">144</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Section&nbsp;9.05</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Purchaser Parent Equity Awards</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">145</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Section&nbsp;9.06</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Reinsurer Cancelled Awards</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">145</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Section&nbsp;9.07</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Life Offer Employee Retention Awards&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">146</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR></TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">iv </P>


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<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="6" ALIGN="center">Article&nbsp;X</TD>
<TD VALIGN="top">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16" COLSPAN="7"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="6" ALIGN="center">TAX MATTERS</TD>
<TD VALIGN="top">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD>
<TD HEIGHT="16" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Section&nbsp;10.01</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Tax Indemnification by Sellers</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">146</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Section&nbsp;10.02</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Tax Indemnification by Purchaser and Reinsurer</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">147</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Section&nbsp;10.03</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Straddle Periods</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">148</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Section&nbsp;10.04</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Tax Returns</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">148</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Section&nbsp;10.05</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Certain Tax Benefits, Refunds, Credits and Carrybacks</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">151</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Section&nbsp;10.06</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Tax Contests</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">152</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Section&nbsp;10.07</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Cooperation and Exchange of Information</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">154</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Section&nbsp;10.08</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Tax Sharing Agreements</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">155</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Section&nbsp;10.09</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Tax Treatment of Payments</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">155</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Section&nbsp;10.10</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Additional Actions</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">155</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Section&nbsp;10.11</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Transfer Taxes</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">155</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Section&nbsp;10.12</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Timing of Payments</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">156</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Section&nbsp;10.13</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Tax Matters Coordination and Survival</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">156</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Section&nbsp;10.14</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Purchase Price Allocation and Section&nbsp;338(h)(10) Elections</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">156</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Section&nbsp;10.15</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">DAC Tax Election</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">158</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Section&nbsp;10.16</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Miscellaneous Covenants</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">158</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16" COLSPAN="7"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="6" ALIGN="center">Article&nbsp;XI</TD>
<TD VALIGN="top">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16" COLSPAN="7"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="6" ALIGN="center">CONDITIONS TO CLOSING</TD>
<TD VALIGN="top">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD>
<TD HEIGHT="16" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Section&nbsp;11.01</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Conditions to the Obligations of Sellers and the Counterparties</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">159</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Section&nbsp;11.02</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Conditions to the Obligations of Purchaser</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">159</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Section&nbsp;11.03</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Conditions to the Obligations of Reinsurer</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">160</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Section&nbsp;11.04</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Conditions to the Obligations of Sellers</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">161</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16" COLSPAN="7"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="6" ALIGN="center">Article&nbsp;XII</TD>
<TD VALIGN="top">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16" COLSPAN="7"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="6" ALIGN="center">TERMINATION</TD>
<TD VALIGN="top">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD>
<TD HEIGHT="16" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Section&nbsp;12.01</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Termination of Agreement</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">163</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Section&nbsp;12.02</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Procedure on Termination</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">164</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Section&nbsp;12.03</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Effect of Termination</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">164</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16" COLSPAN="7"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="6" ALIGN="center">Article&nbsp;XIII</TD>
<TD VALIGN="top">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16" COLSPAN="7"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="6" ALIGN="center">SURVIVAL; INDEMNIFICATION</TD>
<TD VALIGN="top">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD>
<TD HEIGHT="16" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Section&nbsp;13.01</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Survival</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">165</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Section&nbsp;13.02</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Sellers&#146; Indemnification of Purchaser</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">165</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Section&nbsp;13.03</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Sellers&#146; Indemnification of Reinsurer</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">166</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Section&nbsp;13.04</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Purchaser&#146;s Indemnification of Sellers</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">167</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Section&nbsp;13.05</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Reinsurer&#146;s Indemnification of Sellers</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">168</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR></TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">v </P>


<p Style='page-break-before:always'>
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<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>
<TD WIDTH="10%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="86%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>

<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Section&nbsp;13.06</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Purchaser&#146;s Indemnification of Reinsurer</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">168</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Section&nbsp;13.07</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Reinsurer&#146;s Indemnification of Purchaser</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">168</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Section&nbsp;13.08</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Limitations on Indemnification</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">169</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Section&nbsp;13.09</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Indemnification Procedures</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">173</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Section&nbsp;13.10</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Policy Tax Claims</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">175</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Section&nbsp;13.11</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Materiality</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">177</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Section&nbsp;13.12</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Exclusive Remedy</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">177</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16" COLSPAN="7"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="6" ALIGN="center">Article&nbsp;XIV</TD>
<TD VALIGN="top">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16" COLSPAN="7"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="6" ALIGN="center">MISCELLANEOUS PROVISIONS</TD>
<TD VALIGN="top">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD>
<TD HEIGHT="16" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Section&nbsp;14.01</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Notices</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">178</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Section&nbsp;14.02</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Entire Agreement</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">180</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Section&nbsp;14.03</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Waivers and Amendment</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">180</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Section&nbsp;14.04</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Successors and Assigns</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">180</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Section&nbsp;14.05</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">No Third Party Beneficiaries</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">180</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Section&nbsp;14.06</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Governing Law and Jurisdiction</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">181</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Section&nbsp;14.07</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">WAIVER OF JURY TRIAL</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">181</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Section&nbsp;14.08</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Counterparts</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">182</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Section&nbsp;14.09</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Severability</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">182</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Section&nbsp;14.10</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Specific Performance</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">182</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Section&nbsp;14.11</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Publicity</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">182</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Section&nbsp;14.12</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">No Other Representations and Warranties; Due Investigation</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">183</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Section&nbsp;14.13</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Expenses</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">184</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Section&nbsp;14.14</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Waiver of Duty of Utmost Good Faith</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">185</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Section&nbsp;14.15</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Purchaser Parent Guarantee</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">185</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Section&nbsp;14.16</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Seller Parent Guarantee</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">185</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Section&nbsp;14.17</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Reinsurer Parent Guarantee</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">186</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Section&nbsp;14.18</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Legal Representatives</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">186</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
</TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">vi </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">EXHIBITS </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>
<TD WIDTH="11%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="88%"></TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Exhibit A</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Form of Administrative Services Agreement (Company-New York Reinsurer)</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Exhibit B</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Form of Administrative Services Agreement (Company-Reinsurer)</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Exhibit C</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">COLI Administrative Services Agreement Term Sheet</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Exhibit D</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Form of COLI Reinsurance Agreement</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Exhibit E</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Form of COLI Trust Agreement</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Exhibit F</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Form of Company Transition Services Agreement</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Exhibit G</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Form of Counterparties Hold Harmless and Indemnification Agreement</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Exhibit H</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Form of Fronting and Inforce Reinsurance Agreement</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Exhibit I</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Form of New York Reinsurance Agreement</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Exhibit J</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Form of Life Business Transition Services Agreement</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Exhibit K</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Form of Puerto Rico (and Other) Reinsurance Agreement</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Exhibit L</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Form of Guarantee Hold Harmless and Indemnification Agreement</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Exhibit M</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Form of Reinsurance Agreement</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Exhibit N</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Form of Reinsurer Transition Services Agreement</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Exhibit O</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Form of Trust Agreement (New York Business)</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Exhibit P</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Form of Trust Agreement (Non-New York Business)</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Exhibit Q</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Distribution Agreement Term Sheet</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Exhibit R</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Forms of Restructuring Agreements</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Exhibit S</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Form of Liberty Surplus Note</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Exhibit T</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Form of Lincoln Surplus Note</TD></TR>
</TABLE> <P STYLE="margin-top:24pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">SCHEDULES </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>
<TD WIDTH="16%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="83%"></TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Schedule 1.01(a)</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Specified Acquired Group Benefits Assets</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Schedule 1.01(b)</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Specified Acquired Life Assets</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Schedule 1.01(c)</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Assigned Group Benefits Contracts</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Schedule 1.01(d)</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Assigned Life Contracts</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Schedule 1.01(e)</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Balance Sheet Methods</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Schedule 1.01(f)</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Calculation Report Methods</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Schedule 1.01(g)</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Excluded BOLI/COLI Contracts</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Schedule 1.01(h)</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Fair Market Value Methods</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Schedule 1.01(i)</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Licensed Liberty IP</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Schedule 1.01(j)</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Reference Settlements Walk</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Schedule 1.01(k)</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Reference Balance Sheet</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Schedule 1.01(l)</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Required Regulatory Approvals</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Schedule 1.01(m)</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Statement of Net Settlement Methods</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Schedule 1.01(n)</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Transferred Group Benefits Intellectual Property</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Schedule 1.01(o)</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Transferred Life Intellectual Property</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Schedule 1.01(p)</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Applicable Statutory Discount Rate</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Schedule 2.14(a)</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Section 338(h)(10) Calculation</TD></TR>
</TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">DISCLOSURE SCHEDULES </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Sellers Disclosure Schedule </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Purchaser Disclosure Schedule </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Reinsurer Disclosure Schedule </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">vii </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><U>MASTER TRANSACTION AGREEMENT </U></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">This MASTER TRANSACTION AGREEMENT, dated as of January&nbsp;18, 2018 (this &#147;<U>Agreement</U>&#148;), has been made and entered into by
and among Liberty Mutual Insurance Company, a reorganized stock property and casualty insurance company domiciled in the Commonwealth of Massachusetts (&#147;<U>LMIC</U>&#148;), Liberty Mutual Fire Insurance Company, a reorganized stock property and
casualty insurance company domiciled in the State of Wisconsin (&#147;<U>LMFIC</U>,&#148; and together with LMIC, &#147;<U>Sellers</U>&#148;), solely for purposes of <U>Section&nbsp;8.12</U>, <U>Section&nbsp;8.17</U>, <U>Section&nbsp;8.20</U>,
<U>Section&nbsp;8.27</U> and <U>Section&nbsp;14.16</U> (and <U>Article&nbsp;I</U> and <U>Article&nbsp;XIV</U> to the extent relating thereto), Liberty Mutual Group Inc., a corporation organized under the Laws of the Commonwealth of Massachusetts
(&#147;<U>LMGI</U>&#148;), The Lincoln National Life Insurance Company, a stock life and health insurance company domiciled in the State of Indiana (&#147;<U>Purchaser</U>&#148;), solely for purposes of <U>Section&nbsp;8.12</U>,
<U>Section&nbsp;9.05</U> and <U>Section&nbsp;14.15</U> (and <U>Article&nbsp;I</U> and <U>Article&nbsp;XIV</U> to the extent relating thereto), Lincoln National Corporation, a corporation organized under the Laws of the State of Indiana
(&#147;<U>Purchaser Parent</U>&#148;), Protective Life Insurance Company, a stock life and health insurance company domiciled in the State of Tennessee (&#147;<U>Reinsurer</U>&#148;), and solely for purposes of <U>Section&nbsp;8.12</U>, and
<U>Section&nbsp;14.17</U> (and <U>Article&nbsp;I</U> and <U>Article&nbsp;XIV</U> to the extent relating thereto), Protective Life Corporation, a corporation organized under the Laws of the State of Delaware (&#147;<U>Reinsurer Parent</U>&#148;).
Sellers, Purchaser and Reinsurer, solely for purposes of <U>Section&nbsp;8.12</U>, <U>Section&nbsp;9.05</U> and <U>Section&nbsp;14.15</U> (and <U>Article&nbsp;I</U> and <U>Article&nbsp;XIV</U> to the extent relating thereto), Purchaser Parent,
solely for purposes of <U>Section&nbsp;8.12</U>, <U>Section&nbsp;8.17</U>, <U>Section&nbsp;8.20</U>, <U>Section&nbsp;8.27</U> and <U>Section&nbsp;14.16</U> (and <U>Article&nbsp;I</U> and <U>Article&nbsp;XIV</U> to the extent relating thereto), LMGI,
and solely for purposes of <U>Section&nbsp;8.12</U> and <U>Section&nbsp;14.17</U> (and <U>Article&nbsp;I</U> and <U>Article&nbsp;XIV</U> to the extent relating thereto), Reinsurer Parent, are each sometimes individually referred to herein as a
&#147;party,&#148; and collectively, as the &#147;parties.&#148; </P> <P STYLE="margin-top:24pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">W I T N E S S E T H: </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">WHEREAS, LMIC owns ninety percent (90%), and LMFIC owns ten percent (10%), of the issued and outstanding Capital Stock (the
&#147;<U>Shares</U>&#148;) of Liberty Life Assurance Company of Boston, a stock life and health insurance company domiciled in the State of New Hampshire (the &#147;<U>Company</U>&#148;); </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">WHEREAS, Sellers, on the terms and subject to the conditions set forth herein, desire to sell to Purchaser, and Purchaser desires to acquire,
all of the Shares of the Company (the &#147;<U>Company Shares</U>&#148;); </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">WHEREAS, Purchaser, upon acquisition of the Company Shares,
desires that (i)&nbsp;the Company cede to Reinsurer, and Reinsurer desires to accept and reinsure, effective as of the Effective Time, on the terms and subject to the conditions set forth in the Reinsurance Agreement, the Reinsured Liabilities (as
defined therein) and (ii)&nbsp;the Company cede to New York Reinsurer, and New York Reinsurer desires to accept and reinsure, effective as of the Effective Time, on the terms and subject to the conditions set forth in the New York Reinsurance
Agreement, the Reinsured Liabilities (as defined therein); </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">1 </P>


<p Style='page-break-before:always'>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">WHEREAS, (i)&nbsp;Sellers desire to sell, and to cause certain of their Affiliates to sell, to
Purchaser, and Purchaser desires to acquire from Sellers and their Affiliates, the Acquired Group Benefits Assets and (ii)&nbsp;Sellers desire to assign, and to cause certain of their Affiliates to assign, to Purchaser, and Purchaser desires to
assume from Sellers and their Affiliates, the Assumed Group Benefits Liabilities, in each case, on the terms and subject to the conditions set forth herein; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">WHEREAS, simultaneously with the execution and delivery of the Reinsurance Agreement, (i)&nbsp;Sellers desire to sell, and to cause certain of
their Affiliates to sell, to Reinsurer, and Reinsurer desires to acquire from Sellers and their Affiliates, the Acquired Life Assets, and (ii)&nbsp;Sellers desire to assign, and to cause certain of their Affiliates to assign, to Reinsurer, and
Reinsurer desires to assume from Sellers and their Affiliates, the Assumed Life Liabilities, in each case, on the terms and subject to the conditions set forth herein; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">WHEREAS, prior to the Closing, Sellers shall cause the Restructuring Transactions to occur; and </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">WHEREAS, to effectuate the foregoing, and in furtherance of the other transactions contemplated hereby, it is contemplated that, upon the
terms and subject to the conditions set forth in this Agreement, at the Closing, among other agreements: (i)&nbsp;Purchaser, Purchaser Parent and LMIC shall enter into the Guarantee Hold Harmless and Indemnification Agreement pursuant to which
Purchaser and Purchaser Parent shall indemnify and defend LMIC, and hold LMIC harmless from, all Liabilities arising under the Guarantee; (ii)&nbsp;Purchaser, Purchaser Parent, Reinsurer, Reinsurer Parent and LMGI shall enter into the Counterparties
Hold Harmless and Indemnification Agreement pursuant to which Purchaser, Purchaser Parent, Reinsurer and Reinsurer Parent shall indemnify and defend LMGI, and hold LMGI harmless from, certain Liabilities arising under the Net Worth Maintenance
Agreement, as provided therein; (iii)&nbsp;LMIC and Purchaser shall enter into the Company Transition Services Agreement, pursuant to which LMIC shall perform or cause to be performed certain transitions services for the Company and its Affiliates
with respect to the Transferred Businesses; (iv)&nbsp;LMIC and Reinsurer shall enter into the Reinsurer Transition Services Agreement, pursuant to which LMIC shall perform or cause to be performed certain transitions services for Reinsurer and its
Affiliates with respect to the Life Business; (v)&nbsp;the Company and Reinsurer shall enter into the Administrative Services Agreement (Company Reinsurer) and the Company and New York Reinsurer shall enter into the Administrative Services Agreement
(Company-New York Reinsurer) pursuant to which Reinsurer and New York Reinsurer shall service the Reinsured Contracts; (vi)&nbsp;Purchaser and Reinsurer shall enter into the Life Business Transition Services Agreement, pursuant to which Purchaser
shall perform or cause to be performed certain transition services for the Reinsurer and its Affiliates with respect to the Life Business; (vii)&nbsp;Purchaser, Reinsurer and Trustee (as defined therein), shall enter into the Trust Agreement,
pursuant to which Reinsurer shall collateralize its obligations to Purchaser pursuant to the Reinsurance Agreement; (viii)&nbsp;the Company and LIU shall enter into the Fronting and Inforce Reinsurance Agreement, pursuant to which LIU shall
reinsure, on a one hundred percent (100%)&nbsp;indemnity reinsurance basis, as well as administer, the In-Force A&amp;H Individual Business and certain Accident and Health Individual Products written by the Company from and after the Closing
pursuant to the terms thereof; (ix)&nbsp;subject to <U>Section&nbsp;8.15</U>, certain Affiliates of LMIC, on the one hand, and Reinsurer, on the other hand, intend to enter into the Distribution Agreement, pursuant to which such Affiliates would
</P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">2 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
distribute certain life insurance products issued by Reinsurer and its Affiliates in accordance with the terms thereof; (x)&nbsp;LMIC and Purchaser shall enter into the Puerto Rico (and Other)
Reinsurance Agreement, pursuant to which LMIC shall cede to Purchaser, and Purchaser shall accept and reinsure, one hundred percent (100%)&nbsp;of the Reinsured Liabilities (as defined therein); (xi)&nbsp;the Company and Bermuda Reinsurer shall
enter into the COLI Reinsurance Agreement pursuant to which the Company shall cede to Bermuda Reinsurer, and Bermuda Reinsurer shall accept and reinsure, one hundred percent (100%)&nbsp;of the Reinsured Liabilities (as defined therein);
(xii)&nbsp;the Company, Bermuda Reinsurer and Trustee (as defined therein) shall enter into the COLI Trust Agreement pursuant to which Bermuda Reinsurer shall collateralize its obligations to the Company pursuant to the COLI Reinsurance Agreement;
(xiii)&nbsp;the Company, Bermuda Reinsurer and Reinsurer shall enter into the COLI Administrative Services Agreement, pursuant to which the Reinsurer (in its capacity as administrator thereunder) shall service the Excluded BOLI/COLI Contracts at the
direction of Bermuda Reinsurer and on behalf of the Company for a period not to exceed six (6)&nbsp;months after the Closing Date; (xiv)&nbsp;Purchaser shall purchase the Lincoln Surplus Note from Reinsurer; and (xv)&nbsp;LMIC shall purchase the
Liberty Surplus Note from Reinsurer. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">NOW, THEREFORE, in consideration of the foregoing, the representations, warranties, covenants and
agreements set forth herein, and other good and valuable consideration, the adequacy and receipt of which are hereby acknowledged, and intending to be legally bound hereby, the parties hereby agree as follows: </P>
<P STYLE="margin-top:24pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>ARTICLE&nbsp;I </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>DEFINITIONS </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Section&nbsp;1.01 <U>Definitions</U>. The following terms shall have the respective meanings set forth below throughout this Agreement: </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>2018 Group Benefits Incentive</U>&#148; has the meaning set forth in <U>Section&nbsp;9.01(c)</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>2018 Life Incentive</U>&#148; has the meaning set forth in <U>Section&nbsp;9.02(c)</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Accident and Health Group Products</U>&#148; means critical illness, accident, hospital indemnity, pet, travel and any other group
insurance product that may be written by an insurer authorized in a NAIC jurisdiction to write solely &#147;accident and health&#148; business, in each case written through Group Policies; <U>provided</U>, <U>however</U>, &#147;Accident and Health
Group Products&#148; shall not include long term disability, short term disability, leave or life insurance products, in each case, written through Group Policies, or any Accident and Health Individual Products. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Accident and Health Individual Policies</U>&#148; means Company Policies written, issued or assumed in respect of Accident and Health
Individual Products. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Accident and Health Individual Products</U>&#148; means critical illness, accident, hospital indemnity,
pet, travel and any other individual insurance product that may be written by an insurer authorized in a NAIC jurisdiction to write solely &#147;accident and health&#148; business; <U>provided</U>, <U>however</U>, &#147;Accident and Health
Individual Products&#148; shall not include long term disability, short term disability, leave or life insurance products, in each case, written through Group Policies, or any Accident and Health Group Products. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">3 </P>


<p Style='page-break-before:always'>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Accident and Health Products</U>&#148; means Accident and Health Group Products and
Accident and Health Individual Products. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Acquired Assets</U>&#148; means the Acquired Group Benefits Assets and the Acquired
Life Assets. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Acquired Group Benefits Assets</U>&#148; means all of Sellers&#146; and their Affiliates&#146; (other than the
Transferred Companies&#146;) right, title and interest in and to (a)&nbsp;(i) the assets, properties, contracts (other than Policies) and rights used exclusively in connection with the Group Benefits Business and (ii)&nbsp;the assets, properties and
rights that are set forth on <U>Schedule&nbsp;1.01(a)</U>, and (b)&nbsp;without duplication of the foregoing, the Assigned Group Benefits Contracts, the Books and Records and the Transferred Group Benefits Intellectual Property; <U>provided</U>,
<U>however</U>, &#147;Acquired Group Benefits Assets&#148; shall not include any Excluded Assets. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Acquired Life Assets</U>&#148;
means all of Sellers&#146; and their Affiliates&#146; right, title and interest in and to (a)&nbsp;(i) the assets, properties, contracts (other than Policies) and rights used exclusively in connection with the Life Business and (ii)&nbsp;the assets,
properties and rights that are set forth on <U>Schedule&nbsp;1.01(b)</U> and (b)&nbsp;without duplication of the foregoing, the Assigned Life Contracts and the Transferred Life Intellectual Property; <U>provided</U>, <U>however</U>, &#147;Acquired
Life Assets&#148; shall not include any Excluded Assets. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Acquisition Parties</U>&#148; has the meaning set forth in
<U>Section&nbsp;8.16(a)</U>. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Acquisition Proposal</U>&#148; has the meaning set forth in <U>Section&nbsp;8.16(c)</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Action</U>&#148; means any civil, criminal, administrative claim, action, suit, litigation, arbitration or proceeding by or before
any Governmental Authority or arbitral body. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Adjustment Amount</U>&#148; means the amount set forth under the header
&#147;Adjustment Amount&#148; on annex A of the applicable Calculation Report. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Adjusted Statutory Capital</U>&#148; means the
amount set forth in the row labeled &#147;Total capital and surplus&#148; and the column labeled &#147;Balance Sheet&#148; of the applicable Balance Sheet Walk, as prepared as at the Balance Sheet Date. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Administrative Services Agreement (Company-New York Reinsurer)</U>&#148; means an administrative services agreement, substantially in
the form attached hereto as <U>Exhibit&nbsp;A</U>, by and between the Company and New York Reinsurer. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Administrative Services
Agreement (Company-Reinsurer)</U>&#148; means an administrative services agreement substantially in the form attached hereto as <U>Exhibit&nbsp;B</U>, by and between the Company and Reinsurer. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">4 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Affiliate</U>&#148; means, as of any given time, with respect to any Person, any other
Person directly or indirectly Controlling, Controlled by or under direct or indirect common Control with such Person as of such time; <U>provided</U>, <U>however</U>, that Reinsurer&#146;s Affiliates shall include only (i)&nbsp;Reinsurer Parent,
(ii)&nbsp;Persons Controlled by Reinsurer Parent and (iii)&nbsp;any other Affiliate of Reinsurer Parent that is organized or domiciled in any state in the United States. For the avoidance of doubt unless otherwise set forth herein, (x)&nbsp;until
the Closing, each of the Transferred Companies shall be deemed an Affiliate of Sellers, (y)&nbsp;after the Closing, neither of the Transferred Companies shall be deemed an Affiliate of Sellers and (z)&nbsp;Barco shall be deemed an Affiliate of
Sellers. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>After-Acquired Business</U>&#148; has the meaning set forth in <U>Section&nbsp;8.17(b)(vii)</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Aggregate Ceding Commission</U>&#148; means four hundred fifty million six hundred thousand dollars ($450,600,000) <I>plus</I> the
Aggregate Ceding Commission Adjustment Amount. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>&#147;Aggregate Ceding Commission Adjustment Amount&#148;</U> means the amount the set
forth under the header &#147;Aggregate Ceding Commission Adjustment Amount&#148; on annex A of the applicable Calculation Report. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Agreed Items</U>&#148; has the meaning set forth in <U>Section&nbsp;2.14(a)</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Agreement</U>&#148; has the meaning set forth in the Preamble. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Alien Group Benefits Employees</U>&#148; has the meaning set forth in <U>Section&nbsp;9.01(a)(iii)</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Alien Life Employees</U>&#148; has the meaning set forth in <U>Section&nbsp;9.02(a)(iii)</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Allocation</U>&#148; has the meaning set forth in <U>Section&nbsp;10.14(b)</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Ancillary Agreements</U>&#148; means each of the agreements the forms of which are attached hereto as <U>Exhibits A</U> through
<U>T</U> and each of the agreements, exhibits, annexes, schedules and other attachments thereto. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Applicable Individual</U>&#148;
has the meaning set forth in <U>Section&nbsp;8.01(a)(xii)</U>. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Applicable Statutory Discount Rate</U>&#148; means as to any
Discovered Contract, with respect to <U>Schedule 1.01(p)</U>, the percentage set forth in the cell under the column labeled &#147;Stat&#148; in the row that corresponds to the administrative plan code (reflected under the column labeled
&#147;AdminPlanCode&#148;) applicable to such Discovered Contract. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Assigned Contracts</U>&#148; means the Assigned Life
Contracts and the Assigned Group Benefits Contracts. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Assigned Group Benefits Contracts</U>&#148; means the Contracts of Sellers
or their Affiliates (other than the Transferred Companies) set forth on <U>Schedule&nbsp;1.01(c)</U>. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Assigned Life
Contracts</U>&#148; means the Contracts of Sellers or their Affiliates set forth on <U>Schedule&nbsp;1.01(d)</U>. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">5 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Assumed Group Benefits Employee Liabilities</U>&#148; means all Liabilities, whether
arising prior to, at or following the Closing Date, to the extent arising under or relating to the employment or termination of employment of the Group Benefits Employees with the Group Benefits Business (other than Liabilities expressly retained by
Sellers and their Affiliates pursuant to <U>Section&nbsp;9.01</U>). </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Assumed Group Benefits Liabilities</U>&#148; means
(a)&nbsp;all Liabilities arising under or relating to the Acquired Group Benefits Assets, whether arising prior to, at or following the Closing Date and (b)&nbsp;all Assumed Group Benefits Employee Liabilities, in each case, excluding the Excluded
Group Liabilities and Pre-Balance Sheet Date Group Taxes. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Assumed Life Employee Liabilities</U>&#148; means all Liabilities with
respect to the Transferred Life Employees&#146; employment with Reinsurer and its Affiliates arising on or after the Transfer Date as set forth in <U>Section&nbsp;9.02</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Assumed Life Liabilities</U>&#148; means (a)&nbsp;all Liabilities arising under or relating to the Acquired Life Assets, whether
arising prior to, at or following the Closing Date, and (b)&nbsp;all Assumed Life Employee Liabilities, in each case, excluding the Excluded Life Liabilities. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Balance Sheet</U>&#148; means, as applicable, (a)&nbsp;the Estimated Balance Sheet, (b)&nbsp;the Post-Closing Balance Sheet or
(c)&nbsp;the Final Balance Sheet. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Balance Sheet Walk</U>&#148; means, as applicable, (a)&nbsp;the Estimated Balance Sheet Walk,
(b)&nbsp;the Post-Closing Balance Sheet Walk or (c)&nbsp;the Final Balance Sheet Walk. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Balance Sheet Date</U>&#148; means
11:59:59 p.m., New York City time, on the last day of the calendar month immediately preceding the calendar month in which the Closing occurs. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Balance Sheet Date Straddle Period</U>&#148; means any taxable period that begins on or before the Balance Sheet Date and ends after
the Balance Sheet Date. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Balance Sheet Methods</U>&#148; means the methodologies, procedures, judgments, assumptions and
estimates described in <U>Schedule&nbsp;1.01(e)</U>. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Barco</U>&#148; has the meaning set forth in the definition of Excluded
Subsidiaries. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Barco Contracts</U>&#148; has the meaning set forth in <U>Section&nbsp;8.27(a)</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Base Purchase Price</U>&#148; has the meaning set forth in the definition of Purchase Price. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Base Salary</U>&#148; means (a)&nbsp;if the Closing occurs on or prior to April&nbsp;2, 2018, the base salary as in effect
immediately prior to the Closing Date, increased to reflect the 2018 merit increase, if any, approved by Sellers in the ordinary course of business and consistent with past practice or (b)&nbsp;if the Closing occurs after April&nbsp;2, 2018, the
base salary as in effect immediately prior to the Closing Date. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">6 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Base Wages</U>&#148; means (a)&nbsp;if the Closing occurs on or prior to April&nbsp;2,
2018, the base wage rate as in effect immediately prior to the Closing Date, increased to reflect the 2018 merit increase, if any, approved by Sellers in the ordinary course of business and consistent with past practice or (b)&nbsp;if the Closing
Date occurs after April&nbsp;2, 2018, the base wage rate as in effect immediately prior to the Closing Date. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Benefit
Plan</U>&#148; means each written or unwritten employee benefit plan, program, policy, arrangement and contract, including any &#147;employee benefit plan,&#148; as defined in Section&nbsp;3(3) of ERISA, whether or not subject to ERISA, and any
bonus, deferred compensation, stock bonus, stock purchase, restricted stock, stock option or other incentive-based arrangement, and any employment, consulting, termination, retention, bonus, change in control, fringe-benefit, paid time off,
severance or other compensatory plan, program, policy, arrangement or contract (excluding any Multiemployer Plan) that is (or is required to be) sponsored, maintained or contributed to by a Seller or any of its Affiliates or with respect to which a
Seller or any of its Affiliates has any current or potential Liability. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Bermuda Reinsurer</U>&#148; means Liberty Re (Bermuda)
Limited, a company organized under the Laws of Bermuda. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>BOLI/COLI Contracts</U>&#148; means all Company Policies written, issued
or assumed by the Company under which employees, former employees, directors or former directors of a bank, corporation or other corporate entity are the insureds and such bank, corporation or corporate entity, or any trust or other corporate entity
used for the express purpose of procuring such Company Policies, is the policy owner or a beneficiary, including key-person policies, policies procured to collateralize loans, policies backing a buy-sell redemption or similar arrangement and
split-dollar policies. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Book Value</U>&#148; means, with respect to any Investment Asset held by the Company as of any date of
determination, the statutory book value thereof determined in accordance with SAP. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Books and Records</U>&#148; means originals
or, to the extent originals are not available, copies of (a)&nbsp;all records and all other data and information in whatever form maintained (including computer generated, recorded or stored records) in the possession of a Transferred Company and
(b)&nbsp;all records and all other data and information in whatever form maintained (including computer generated, recorded or stored records) in the possession or control of, or reasonably available to, Sellers or any Affiliate of Sellers to the
extent relating primarily to a Transferred Business, the In-Force A&amp;H Individual Business or the Excluded BOLI/COLI Contracts, including (i)&nbsp;administrative records, (ii)&nbsp;claims and claims handling records, (iii)&nbsp;Policy and
contract files, (iv)&nbsp;sales records, (v)&nbsp;files and records relating to applicable Law, (vi)&nbsp;reinsurance records, (vii)&nbsp;personnel records of the Transferred Business Employees, (viii)&nbsp;underwriting records and
(ix)&nbsp;actuarial and reserving records, including actuarial reports, analyses and memoranda; <U>provided</U>, <U>however</U>, &#147;Books and Records&#148; shall not include: (u)&nbsp;any portion of (i)&nbsp;any Combined Tax Return or
(ii)&nbsp;any other Tax Return (or any supporting work papers or other documentation related thereto) related to Taxes paid or payable by Sellers or any of their respective Affiliates (other than any such other Tax Returns or supporting work papers
or other documentation related to Taxes paid or payable by the Transferred Companies); (v)&nbsp;records, data and information with respect to any Benefit Plan, other than as required by this Agreement, including <U>Article&nbsp;IX</U>, or to the
extent related to a Group Benefits Business Plan or Life Business Plan; (w)&nbsp;any books and records relating exclusively to the Retained Businesses (except with </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">7 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
respect to the In-Force A&amp;H Individual Business and the Excluded BOLI/COLI Contracts); (x)&nbsp;any records or other data that relate to any internal corporate matters of Sellers or their
Affiliates (other than the internal corporate matters of the Transferred Companies), including minute books, shareholder consents, consolidated financial reports, documents and other materials reflecting or relating to internal corporate governance
approval processes of Sellers or their Affiliates (other than the Transferred Companies); (y)&nbsp;certificates of incorporation, bylaws, corporate seals, licenses to do business and other corporate records relating to corporate organization or
capitalization of Sellers or their respective Affiliates (other than the Transferred Companies); or (z)&nbsp;any internal drafts, opinions, valuations, correspondence or other materials produced by, or provided between or among, Sellers and their
Affiliates or Representatives in connection with the negotiation or valuation of the specific transactions contemplated hereunder or the terms of engagement of such Representatives with respect thereto. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Books and Records Plan</U>&#148; has the meaning set forth in <U>Section&nbsp;8.02(e)</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Burdensome Condition</U>&#148; has the meaning set forth in <U>Section&nbsp;8.03(c)</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Business Day</U>&#148; means any day other than a Saturday, Sunday or a day on which commercial banks in Birmingham, Alabama, Boston,
Massachusetts or New York, New York are required or authorized by Law to be closed. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Business Employees</U>&#148; means the
(a)&nbsp;Group Benefits Employees and (b)&nbsp;Life Employees. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Calculation Report</U>&#148; means the Closing Calculation
Report, the Post-Closing Calculation Report and the Final Calculation Report, as applicable. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Calculation Report
Methods</U>&#148; means the methodologies, procedures, judgments, assumptions and estimates described in <U>Schedule 1.01(f)</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Cancelled Awards</U>&#148; has the meaning set forth in <U>Section&nbsp;9.04</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Capital Stock</U>&#148; means any capital stock of, or other type of equity ownership interest in, as applicable, a Person. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Ceding Commission</U>&#148; means the portion of the Aggregate Ceding Commission allocable to the Reinsurance Agreement. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Change of Control</U>&#148; has the meaning set forth in <U>Section&nbsp;8.17(c)</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Claim Notice</U>&#148; has the meaning set forth in <U>Section&nbsp;13.09(a)</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Closing</U>&#148; has the meaning set forth in <U>Section&nbsp;2.01</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Closing Calculation Report</U>&#148; has the meaning set forth in <U>Section&nbsp;2.08(a)</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Closing COLI Book Value</U>&#148; has the meaning set forth in Section&nbsp;2.09(g). </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">8 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Closing Date</U>&#148; means (a)&nbsp;the third (3rd)&nbsp;Business Day immediately
following the satisfaction or waiver of the conditions set forth in <U>Article&nbsp;XI</U>, other than any such conditions that by their nature are to be satisfied at Closing, but subject to the satisfaction or waiver of such conditions at the
Closing; <U>provided</U>, <U>however</U>, that if the Closing would otherwise have occurred during the last seven (7)&nbsp;days of a calendar month, then the Closing shall not take place until the first Business Day of the next calendar month, or
(b)&nbsp;any other date as the parties may mutually agree in writing. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Closing Date Straddle Period</U>&#148; means any taxable
period that begins on or before the Closing Date and ends after the Closing Date. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Closing Date Surplus Note</U>&#148; means a
surplus note with a principal amount equal to the increase in the Company&#146;s surplus required by the Commissioner of the New Hampshire Insurance Department to approve the Extraordinary Dividend. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Closing Life Book Value</U>&#148; has the meaning set forth in <U>Section&nbsp;2.09(e)(i)</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Closing Net Settlement Amount</U>&#148; has the meaning set forth in <U>Section&nbsp;2.09(d)(i)</U> or
<U>Section&nbsp;2.09(d)(ii)</U>, as applicable. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Closing Payment</U>&#148; has the meaning set forth in
<U>Section&nbsp;2.08(b)</U>. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Closing Purchase Price</U>&#148; means the Purchase Price as determined by reference to the
Estimated Balance Sheet and the Closing Calculation Report. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Closing Total Assets</U>&#148; has the meaning set forth in
<U>Section&nbsp;2.09(d)(i)</U>. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Closing Total Cash and Invested Assets</U>&#148; has the meaning set forth in
<U>Section&nbsp;2.09(d)(i)</U>. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Closing Total Liabilities</U>&#148; has the meaning set forth in <U>Section&nbsp;2.09(d)(i)</U>.
</P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Closing Reconciliation Amount</U>&#148; has the meaning set forth in <U>Section&nbsp;2.09(d)(i)</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>COBRA</U>&#148; means Part&nbsp;6 of Subtitle&nbsp;B of Title&nbsp;I of ERISA, Section&nbsp;4980B of the Code and any similar state
or local Law. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Code</U>&#148; means the Internal Revenue Code of 1986, as amended, or any successor federal Tax statute. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>COLI Administrative Services Agreement</U>&#148; means a COLI administrative services agreement or agreements to be entered into by
and among the Company, Bermuda Reinsurer and/or Reinsurer (in its capacity as administrator thereunder), substantially in accordance with the material terms set forth in <U>Exhibit C</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>COLI Asset Report</U>&#148; has the meaning set forth in <U>Section&nbsp;2.09(a)</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>COLI Investment Assets</U>&#148; means all Investment Assets listed on Section&nbsp;1.01(a) of the Sellers Disclosure Schedule, dated
as of January&nbsp;11, 2018, as such Investment Assets may be substituted, replaced or modified in accordance with the Company&#146;s applicable Investment Guidelines from time to time. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">9 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>COLI Obligations</U>&#148; has the meaning set forth in <U>Section&nbsp;14.16</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>COLI Reinsurance Agreement</U>&#148; means a COLI reinsurance agreement substantially in the form attached hereto as <U>Exhibit
D</U>, by and between the Company and Bermuda Reinsurer. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>COLI Trust Account</U>&#148; means any and all of the accounts
established pursuant to the COLI Trust Agreement. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>COLI Trust Agreement</U>&#148; means a trust agreement by and among the
Company, Bermuda Reinsurer and a trustee substantially in the form of <U>Exhibit E</U>. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Combined Employee</U>&#148; means an
In-Force Service&nbsp;&amp; Maintenance Employee identified on Section&nbsp;5.22(c) of the Sellers Disclosure Schedule as a &#147;Combined Employee&#148;, as such Sellers Disclosure Schedule may be updated in accordance with
<U>Section&nbsp;9.02(a)</U>. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Combined Tax Return</U>&#148; has the meaning set forth in <U>Section&nbsp;10.04(a)</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Company</U>&#148; has the meaning set forth in the Recitals. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Company Financial Statements</U>&#148; has the meaning set forth in <U>Section&nbsp;4.04(a)</U>.&#148;<U>Company Investment
Assets</U>&#148; has the meaning set forth in <U>Section&nbsp;8.10(a)</U>. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Company Policies</U>&#148; means Policies written,
issued or assumed by the Company; <U>provided</U>, <U>however</U>, &#147;Company Policies&#148; shall not include the Excluded BOLI/COLI Contracts or the Accident and Health Individual Policies. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Company Shares</U>&#148; has the meaning set forth in the Recitals. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Company Subsidiary</U>&#148; has the meaning set forth in the definition of Transferred Companies. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Company Transition Services Agreement</U>&#148; means a transition services agreement substantially in the form attached hereto as
<U>Exhibit F</U>, by and between the Company and LMIC. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Comparable Offer of Employment</U>&#148; means, with respect to a
Business Employee, an offer of employment that is in compliance with <U>Section&nbsp;9.01</U> (in the case of Group Benefits Employees) or <U>Section&nbsp;9.02</U> (in the case of Life Employees) and provides a comparable position with substantially
similar duties as in effect immediately prior to the Closing Date and a work location that is within fifty (50)&nbsp;miles of the Business Employee&#146;s principal work location as in effect immediately prior to the Closing Date. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Competing After-Acquired Revenues</U>&#148; has the meaning set forth in <U>Section&nbsp;8.17(b)(vii)</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Competing Business</U>&#148; has the meaning set forth in <U>Section&nbsp;8.17(a)</U>. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">10 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Confidential Information</U>&#148; means all information of any kind concerning the
Disclosing Party or any of its Affiliates obtained directly or indirectly from the Disclosing Party or any of its Affiliates or Representatives in connection with the transactions contemplated by this Agreement or the Ancillary Agreements, except
information (a)&nbsp;ascertainable or obtained from public or published sources, (b)&nbsp;received from a Person who is not an Affiliate or Representative of the Disclosing Party who is under no obligation to keep such information confidential,
(c)&nbsp;which is or becomes known to the public (other than through a breach of this Agreement or any other confidentiality or non-disclosure obligation of any Person), (d)&nbsp;which was in the Receiving Party&#146;s possession prior to disclosure
thereof to the Receiving Party and which was not subject to any obligation to keep such information confidential or (e)&nbsp;which is independently developed by the Receiving Party or its Affiliates without the use or benefit of any information that
would otherwise be Confidential Information. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Confidentiality Agreements</U>&#148; means (a)&nbsp;the letter agreement by and
between LMGI and Purchaser Parent, dated July&nbsp;26, 2017, as amended on November&nbsp;1, 2017, (b)&nbsp;the letter agreement by and between LMGI and Reinsurer Parent, dated August&nbsp;8, 2017, and (c)&nbsp;the letter agreement by and between
Purchaser Parent and Reinsurer Parent, dated August&nbsp;30, 2017. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Contract</U>&#148; means, with respect to any Person, any
agreement, contract, lease, license, instrument or other legally binding obligation to which such Person is a party or is otherwise subject or bound. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Control</U>&#148; means the possession, directly or indirectly, of the power to direct the management and policies of a Person
through the ownership of securities, by contract or otherwise and the terms &#147;<U>Controlling</U>&#148; and &#147;<U>Controlled</U>&#148; have meanings correlative to the foregoing. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Counterparties</U>&#148; means Purchaser and Reinsurer. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Counterparties Deductible</U>&#148; has the meaning set forth in <U>Section&nbsp;13.08(e)</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Counterparties Hold Harmless and Indemnification Agreement</U>&#148; means a hold harmless and indemnification agreement
substantially in the form attached hereto as <U>Exhibit G</U>, by and among LMGI, Purchaser, Purchaser Parent and Reinsurer. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Credited Life New York Rate</U>&#148; means the product of (a)&nbsp;the New York Ceding Commission (as may be adjusted, if
applicable, by the Net Retained Liabilities Ceding Commission Adjustment as defined in, and contemplated by, the New York Reinsurance Agreement) <I>multiplied by</I> (b)&nbsp;(i) the FHLB Rate <I>multiplied by</I> (ii)&nbsp;a fraction, the numerator
of which is the number of calendar days during the period commencing on and including the day following the Balance Sheet Date and ending on and including the date immediately prior to the Closing Date, and the denominator of which is three hundred
sixty five (365). </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Credited Life Non-New York Rate</U>&#148; means the product of (a)&nbsp;the Ceding Commission (as may be
adjusted, if applicable, by the Net Retained Liabilities Ceding Commission Adjustment as defined in, and contemplated by, the Reinsurance Agreement) <I>multiplied by</I> (b)&nbsp;(i) the FHLB Rate <I>multiplied by</I> (ii)&nbsp;a fraction, the
numerator of which is the number of calendar days during the period commencing on and including the day following the Balance Sheet Date and ending on and including the date immediately prior to the Closing Date, and the denominator of which is
three hundred sixty five (365). </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">11 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Credited Rate</U>&#148; means the product of (a)&nbsp;the Base Purchase Price
<I>multiplied by</I> (b)&nbsp;(i) Purchaser&#146;s two-week FHLB borrowing rate for amounts in excess of $1 billion (the &#147;<U>FHLB Rate</U>&#148;) <I>multiplied by</I> (ii)&nbsp;a fraction, the numerator of which is the number of calendar days
during the period commencing on and including the day following the Balance Sheet Date and ending on and including the date immediately prior to the Closing Date, and the denominator of which is three hundred sixty five (365). </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>DA Transition Period</U>&#148; means the period from the Closing through December&nbsp;31, 2018. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>DAC Tax Election</U>&#148; has the meaning set forth in <U>Section&nbsp;10.15(a)</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Deminimis Amount</U>&#148; has the meaning set forth in <U>Section&nbsp;13.08(a)</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Direct Product Tax Claim</U>&#148; has the meaning set forth in <U>Section&nbsp;13.10(a)</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Disclosing Party</U>&#148; has the meaning set forth in <U>Section&nbsp;8.02(c)</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Discovered Contract</U>&#148; has the meaning set forth in <U>Section&nbsp;8.23(a)</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Discovered Contract Notice</U>&#148; has the meaning set forth in <U>Section&nbsp;8.23(a)</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Discovered Contract Transfer Amount</U>&#148; means, (a)&nbsp;with respect to a Discovered Contract other than a term policy, the
general account statutory reserves in respect of such Discovered Contract, calculated as of the Balance Sheet Date in accordance with the Statement of Net Settlement Methods, that would have been transferred to Reinsurer pursuant to
<U>Article&nbsp;II</U> had such Discovered Contract been taken into account in the calculation of the Closing Net Settlement Amount reflected in the Final Statement of Net Settlement and (b)&nbsp;with respect to a Discovered Contract that is a term
policy, the economic reserves in respect of such Discovered Contract, calculated as of the Balance Sheet Date in accordance with the Statement of Net Settlement Methods, that would have been transferred to Reinsurer pursuant to
<U>Article&nbsp;II</U> had such Discovered Contract been reserved for by St. James and taken into account in the calculation of the Closing Net Settlement Amount reflected in the Final Statement of Net Settlement, in each case, <U>plus</U> interest
thereon, calculated at the Applicable Statutory Discount Rate, for the period from the Closing Date to the date of such payment to the Reinsurer; <U>provided</U>, <U>however</U>, with respect to any Discovered Contract that is a life insurance
Policy for which a claim for a death benefit (including through a request for deposit to a retained asset account) or similar policy benefit has been made, the &#147;Discovered Contract Transfer Amount&#148; shall equal the sum of the amount of such
death benefit or other similar policy benefit plus all interest and other amounts due thereunder, as provided by contract and applicable Law, with respect to such Discovered Contract. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Disputed Items</U>&#148; has the meaning set forth in <U>Section&nbsp;2.14(a)</U>. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">12 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Distribution Agreement</U>&#148; means a distribution agreement to be entered into by
and among Helmsman Insurance Agency Inc., Emerald City Insurance Agency, Inc. and Reinsurer substantially in accordance with the material terms set forth in <U>Exhibit Q</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Distribution Incentive Arrangement</U>&#148; means the Group Benefits Business Plan that provides guaranteed commission payments to
the Group Benefits Employees listed on Section&nbsp;9.01(g) of Sellers Disclosure Schedule. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Effective Time</U>&#148; means
12:00:01 a.m., New York City time, on the first day of the calendar month in which the Closing occurs. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Electronic Data
Room</U>&#148; means the electronic data room hosted by Merrill DataSite at http://www.merrillcorp.com, labeled &#147;Project Providence.&#148; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Eligible Life Investment Assets</U>&#148; means all of the Life Investment Assets owned by the Company immediately prior to the
Closing, other than the Specified Investment Assets, the Specified CML Participations and the Investment Assets to be retained by the Company pursuant to the Statement of Net Settlement Methods or by Sellers pursuant to <U>Section&nbsp;8.10</U>.
</P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Encumbrance</U>&#148; means any pledge, security interest, mortgage, lien, attachment, right of first refusal, option, covenant,
condition or restriction, including any restriction on receipt of income or exercise of any other attribute of ownership, except such restrictions as may be contained in any applicable insurance Law. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Enforceability Exceptions</U>&#148; has the meaning set forth in <U>Section&nbsp;3.01(d)</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>ERISA</U>&#148; means the Employee Retirement Income Security Act of 1974, as amended. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>ERISA Affiliate</U>&#148; has the meaning set forth in <U>Section&nbsp;4.25(c)</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Estimated Aggregate Ceding Commission</U>&#148; means the Aggregate Ceding Commission calculated based on the Closing Calculation
Report. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Estimated Balance Shee</U>t&#148; means column &#147;Y&#148; (labeled &#147;Balance Sheet&#148;) on the Estimated
Balance Sheet Walk. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Estimated Balance Sheet Walk&#148; has the meaning set forth in Section&nbsp;2.08(a). </U> </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Estimated Ceding Commission</U>&#148; has the meaning set forth in <U>Section&nbsp;2.09(a)</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Estimated Ceding Commission Report</U>&#148; has the meaning set forth in <U>Section&nbsp;2.09(c)</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Estimated Excess Section&nbsp;338(h)(10) Elections Benefit</U>&#148; shall have the meaning set forth in <U>Section&nbsp;2.14(a)</U>.
</P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Estimated Life Asset Report</U>&#148; has the meaning set forth in <U>Section&nbsp;2.09(a)</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Estimated New York Ceding Commission</U>&#148; has the meaning set forth in <U>Section&nbsp;2.09(a)</U>. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">13 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Estimated New York Required Balance</U>&#148; has the meaning set forth in
<U>Section&nbsp;2.09(c)</U>. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Estimated Report</U>&#148; has the meaning set forth in <U>Section&nbsp;2.09(a)</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Estimated Required Balance</U>&#148; has the meaning set forth in <U>Section&nbsp;2.09(c)</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Estimated Required Balance Report</U>&#148; has the meaning set forth in <U>Section&nbsp;2.09(c)</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Estimated Section&nbsp;338(h)(10) Elections Adjustment Amount</U>&#148; means (a)&nbsp;the lesser of (i)&nbsp;the Estimated
Section&nbsp;338(h)(10) Elections Cost and (ii)&nbsp;the Estimated Section&nbsp;338(h)(10) Elections Benefit, plus (b)&nbsp;eighty-percent (80%)&nbsp;of the Estimated Section&nbsp;338(h)(10) Elections Excess. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Estimated Section&nbsp;338(h)(10) Elections Benefit</U>&#148; has the meaning set forth in <U>Section&nbsp;2.14(a)</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Estimated Section&nbsp;338(h)(10) Elections Cost</U>&#148; has the meaning set forth in <U>Section&nbsp;2.14(a)</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Estimated Section&nbsp;338(h)(10) Elections Excess</U>&#148; has the meaning set forth in <U>Section&nbsp;2.14(b)</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Estimated Statement of Net Settlement</U>&#148; means column &#147;C&#148; (labeled &#147;Statement of Net Settlement&#148;) on the
Estimated Statement of Net Settlement Walk. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Estimated Statement of Net Settlement Walk</U>&#148; has the meaning set forth in
<U>Section&nbsp;2.09(a)</U>. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Exchange Act</U>&#148; means the United States Securities Exchange Act of 1934, as amended. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Excluded Assets</U>&#148; means all of Sellers&#146; and their Affiliates&#146; right, title and interest in, to or under the
following assets, properties, contracts and rights related to the Transferred Businesses: (a)&nbsp;cash and investment assets beneficially owned (within the meaning of Rule 13d-3 under the Exchange Act) by Sellers and their Affiliates (other than
the Transferred Companies) and any contracts related thereto (except to the extent the same constitutes a Transferred Investment Asset); (b)&nbsp;any assets, properties and rights, including rights in Intellectual Property, to the extent exclusively
related to an Excluded Business Function; (c)&nbsp;the Excluded Contracts; (d)&nbsp;Permits (other than those held by the Transferred Companies); (e)&nbsp;any Tax refunds, credits or offsets (or rights thereto) to the extent provided in
<U>Article&nbsp;X</U>; (f)&nbsp;any real property owned by Sellers or their Affiliates; (g)&nbsp;any assets, properties or rights included within the definition of &#147;Acquired Assets&#148; that are disposed of prior to the Closing Date in
accordance with this Agreement; and (h)&nbsp;any assets arising out of or relating to employee benefit or other compensation plans, programs, agreements or arrangements maintained or contributed to (or formerly maintained or contributed to) by
Sellers or their Affiliates, other than with respect to the Group Benefits Business Plans and the Life Business Plans. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">14 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Excluded BOLI/COLI Contracts</U>&#148; means the Policies written, issued or assumed by
the Company corresponding to the plan codes listed on <U>Schedule 1.01(g)</U>, including all supplements, endorsements, riders and amendments thereto entered into at any time.<B> </B> </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Excluded Business Functions</U>&#148; means any of the following: (a)&nbsp;treasury, banking, and cash management services;
(b)&nbsp;asset management and investment services; (c)&nbsp;human resources, talent and enterprise services and benefits services; (d)&nbsp;enterprise information technology services, enterprise hosting services, enterprise technology services, and
network and telecommunications services; (e)&nbsp;legal and compliance services; (f)&nbsp;tax services not specifically identified in <U>Schedules 1.01(c)</U> or <U>1.01(d)</U>; (g)&nbsp;enterprise finance and accounting services; and (h)&nbsp;real
property services. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Excluded Contracts</U>&#148; means Contracts included within the definition of &#147;Assigned Contracts&#148;
that are terminated in accordance with this Agreement on or prior to the Closing Date. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Excluded Group Liabilities</U>&#148;
means all Liabilities arising out of, in connection with or relating to (a)&nbsp;the Retained Businesses, (b)&nbsp;the Excluded Subsidiaries, (c)&nbsp;any employees of Sellers or their Affiliates, other than the Assumed Group Benefits Employee
Liabilities, (d)&nbsp;the Restructuring Transactions or the failure to effect any contemplated Restructuring Transaction (excluding, for the avoidance of doubt, a reduction in assets of the Company resulting from the Restructuring Transactions to
the extent that such assets were not reflected on the Final Balance Sheet or the Final Statement of Net Settlement) or (e)&nbsp;Liabilities expressly retained by Sellers and their Affiliates pursuant to <U>Section&nbsp;9.01</U>; <U>provided</U>,
<U>however</U>, &#147;Excluded Group Liabilities&#148; shall not include any Liabilities (x)&nbsp;of Purchaser or its Affiliates (including the Company) arising under an Ancillary Agreement (including, for the avoidance of doubt, the Counterparties
Hold Harmless and Indemnification Agreement), (y)&nbsp;assumed by the Company pursuant to the terms of a Restructuring Agreement or (z)&nbsp;for which reserves were established and set forth on the Final Balance Sheet Walk, solely to the extent of
the reserved amount. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Excluded Life Investment Assets</U>&#148; has the meaning set forth in <U>Section&nbsp;2.09(e)(i)</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Excluded Life Liabilities</U>&#148; means all Liabilities arising out of, in connection with or relating to (a)&nbsp;the Retained
Businesses or the Excluded Assets, (b)&nbsp;the Benefit Plans (other than the Life Business Plans set forth in Section&nbsp;9.02(g) of the Sellers Disclosure Schedule), (c)&nbsp;any employees of Sellers or their Affiliates, other than the Assumed
Life Employee Liabilities, (d)&nbsp;the Excluded Subsidiaries, (e)&nbsp;the Restructuring Transactions or the failure to effect any contemplated Restructuring Transaction (excluding, for the avoidance of doubt, a reduction in assets of the Company
resulting from the Restructuring Transactions to the extent that such assets were not reflected on the Final Balance Sheet or Final Statement of Net Settlement), or (f)&nbsp;Liabilities expressly retained by Sellers and their Affiliates pursuant to
<U>Section&nbsp;9.02</U>; <U>provided</U>, <U>however</U>, &#147;Excluded Life Liabilities&#148; shall not include any Liabilities (w)&nbsp;of Reinsurer or its Affiliates arising under an Ancillary Agreement (including, for the avoidance of doubt,
the Counterparties Hold Harmless and Indemnification Agreement), (x)&nbsp;assumed by the Company pursuant to the terms of a Restructuring Agreement; (y)&nbsp;for which reserves, other than IBNR or similar non-seriatim reserves, were established and
set forth on the Final Statement of Net Settlement Walk, solely to the extent that the reserved amount was at least equal to the amount that was required to be set forth on the Final Statement of Net Settlement Walk based on the Statement of Net
Settlement Methods or (z)&nbsp;any amounts excluded from the definition of &#147;Losses&#148; pursuant to the last sentence thereof. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">15 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Excluded Subsidiaries</U>&#148; means (a)&nbsp;Liberty Personal Insurance Company, a
stock property and casualty insurance company domiciled in State of New Hampshire, and (b)&nbsp;Barco Assignments Ltd., a limited liability company licensed to conduct international business under the Laws of Barbados (&#147;<U>Barco</U>&#148;).
</P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Extraordinary Dividend</U>&#148; means the dividend paid by the Company to Sellers at or immediately prior to the Closing in an
amount equal to the Extraordinary Dividend Amount. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Extraordinary Dividend Amount</U>&#148; means an amount, determined by
Purchaser, up to the amount that, if paid as a dividend by the Company following the transactions contemplated by this Agreement, the Ancillary Agreements and any other internal reinsurance transactions completed on the Closing Date by Purchaser and
its Affiliates, would result in the Company having a company action level risk based capital ratio determined in accordance with applicable Law and SAP of the state of domicile of the Company of no less than four hundred percent (400%). </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Fair Market Value</U>&#148; means, with respect to any Investment Asset, the fair market value of an asset determined in accordance
with the Fair Market Value Methods. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Fair Market Value Methods</U>&#148; means the methodologies, procedures and policies set
forth on <U>Schedule&nbsp;1.01(h)</U> for purposes of determining the fair market value of an asset. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>FHLB Rate</U>&#148; has the
meaning set forth in the definition of Credited Rate. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Final Aggregate Ceding Commission</U>&#148; means the Aggregate Ceding
Commissioncalculated based on the Final Calculation Report in accordance with the Calculation Report Methods. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Final
Allocation</U>&#148; has the meaning set forth in <U>Section&nbsp;10.14(b)</U>. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Final Asset Report</U>&#148; has the meaning set
forth in <U>Section&nbsp;2.12(b)</U>. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Final Balance Sheet</U>&#148; means a balance sheet, in the same format as the Reference
Balance Sheet, prepared in accordance with the Balance Sheet Methods and dated as at the Balance Sheet Date, as finally determined pursuant to <U>Article&nbsp;II</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Final Balance Sheet Walk</U>&#148; means a balance sheet walk, in the same format as the Reference Balance Sheet Walk, prepared in
accordance with the Balance Sheet Methods and dated as at the Balance Sheet Date, as finally determined pursuant to <U>Article&nbsp;II</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Final Calculation Report</U>&#148; means a calculation report prepared in accordance with the Calculation Report Methods, as finally
determined pursuant to <U>Article&nbsp;II</U>. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Final Ceding Commission</U>&#148; has the meaning set forth in
<U>Section&nbsp;2.11(g)</U>. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">16 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Final Excess Section&nbsp;338(h)(10) Elections Benefit</U>&#148; has the meaning set
forth in <U>Section&nbsp;2.14(b)</U>. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Final Group Benefits Employee Census</U>&#148; has the meaning set forth in
<U>Section&nbsp;9.01(a)</U>. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Final New York Ceding Commission</U>&#148; has the meaning set forth in
<U>Section&nbsp;2.11(g)</U>. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Final Purchase Price</U>&#148; means the Purchase Price as determined by reference to the Final
Balance Sheet and the Final Calculation Report. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Final Purchaser Report</U>&#148; means has the meaning set forth in
<U>Section&nbsp;2.11(b)</U>, <U>Section&nbsp;2.11(g)</U> or <U>Section&nbsp;2.13(d)</U>, as applicable. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Final Reconciliation
Amount</U>&#148; has the meaning set forth in <U>Section&nbsp;2.12(g)</U>. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Final Section&nbsp;338(h)(10) Calculation</U>&#148;
has the meaning set forth in <U>Section&nbsp;2.14(b)</U>. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Final Section&nbsp;338(h)(10) Elections Adjustment Amount</U>&#148;
means (a)&nbsp;the lesser of (i)&nbsp;the Final Section&nbsp;338(h)(10) Elections Cost and (ii)&nbsp;the Final Section&nbsp;338(h)(10) Elections Benefit, <I>plus</I> (b)&nbsp;eighty-percent (80%)&nbsp;of the Final Section&nbsp;338(h)(10) Elections
Excess. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Final Section&nbsp;338(h)(10) Elections Benefit</U>&#148; means the Estimated Section&nbsp;338(h)(10) Elections Benefit,
as updated and reflected on the Final Section&nbsp;338(h)(10) Calculation pursuant to <U>Section&nbsp;2.14(b)</U>. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Final
Section&nbsp;338(h)(10) Elections Cost</U>&#148; means the Estimated Section&nbsp;338(h)(10) Elections Cost, as updated and reflected on the Final Section&nbsp;338(h)(10) Calculation pursuant to <U>Section&nbsp;2.14(b)</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Final Section&nbsp;338(h)(10) Elections Excess</U>&#148; has the meaning set forth in <U>Section&nbsp;2.14(b)</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Final Settlement Report</U>&#148; has the meaning set forth in <U>Section&nbsp;2.12(b)</U>, <U>Section&nbsp;2.12(f)</U> or
<U>Section&nbsp;2.13(d)</U> as applicable. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Final Statement of Net Settlement</U>&#148; means a statement of net settlement, in
the same format as the Reference Statement of Net Settlement, prepared in accordance with the Statement of Net Settlement Methods and dated as at the Balance Sheet Date, as finally determined pursuant to <U>Article&nbsp;II</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Final Statement of Net Settlement Walk</U>&#148; means a statement of net settlement walk, in the same format as the Reference
Statement of Net Settlement Walk, prepared in accordance with the Statement of Net Settlement Methods and dated as at the Balance Sheet Date, as finally determined pursuant to <U>Article&nbsp;II</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Final Statements</U>&#148; means the Final Statement of Net Settlement Walk and Final Balance Sheet Walk. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>FMV Basis</U>&#148; has the meaning set forth in <U>Section&nbsp;2.14(a)</U>. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">17 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Fronting and Inforce Reinsurance Agreement</U>&#148; means a reinsurance agreement
substantially in the form attached hereto as <U>Exhibit H</U>, by and between the Company and LIU. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>GAAP</U>&#148; means United
States generally accepted accounting principles, consistently applied. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Governmental Authority</U>&#148; means any government,
political subdivision, court, body, board, commission, regulatory, self-regulatory or administrative agency or other instrumentality thereof, whether federal, state, local or foreign and including any regulatory authority which may be partly or
wholly autonomous. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Group Benefits 401(k) Plan</U>&#148; has the meaning set forth in <U>Section&nbsp;9.01(e)</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Group Benefits Actuarial Report</U>&#148; has the meaning set forth in <U>Section&nbsp;4.13</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Group Benefits Business</U>&#148; means (a)&nbsp;the business of the Company and its Affiliates of entering into, underwriting,
marketing, selling, issuing, delivering, reinsuring, canceling, servicing, administering and distributing, as applicable, Group Policies in respect of long term disability, short term disability, leave and life insurance, in each case, to employer
groups of any size (including the association listed on Section&nbsp;1.01(b) of the Sellers Disclosure Schedule) (such Policies, the &#147;<U>Group Benefits Policies</U>&#148;), and (b)&nbsp;the In-Force A&amp;H Group Business; <U>provided</U>,
<U>however</U>, the &#147;Group Benefits Business&#148; shall not include the Life Business or the Retained Businesses. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Group
Benefits Business Plans</U>&#148; means each Group Benefits Plan listed on Section&nbsp;9.01(g) of the Sellers Disclosure Schedule. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Group Benefits Continuation Period</U>&#148; has the meaning set forth in <U>Section&nbsp;9.01(b)</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Group Benefits Employee Transfer Date</U>&#148; has the meaning set forth in <U>Section&nbsp;9.01(a)(i)</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Group Benefits Employees</U>&#148; means each individual employed by a Seller or any of its Affiliates, including Shared Employees,
who is listed on Section&nbsp;4.27(c) of Sellers Disclosure Schedule, as such Sellers Disclosure Schedule may be updated in accordance with <U>Section&nbsp;9.01(a)</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Group Benefits Plan</U>&#148; means each Benefit Plan that is with or for the benefit of any Group Benefits Employee or any of their
respective beneficiaries and dependents. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Group Benefits Policies</U>&#148; has the meaning set forth in the definition of Group
Benefits Business. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Group Benefits Qualifying Termination</U>&#148; means (a)&nbsp;a termination of employment by Purchaser or
its Affiliates of a Transferred Group Benefits Employee other than for cause (including in connection with a redundancy, reduction in force or job elimination) or (b)&nbsp;a resignation of employment by a Transferred Group Benefits Employee due to
(i)&nbsp;any material reduction in Base Salary or Base Wages, short term incentive opportunity or long term incentive opportunity of the Transferred Group Benefits Employee as in effect for such individual
</P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">18 </P>


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immediately prior to the Closing Date, or (ii)&nbsp;a relocation of more than fifty (50)&nbsp;miles from the office to which the Transferred Group Benefits Employee is assigned for such
individual immediately prior to the Closing Date; <U>provided</U>, <U>however</U>, that with respect to any termination of employment pursuant to clause&nbsp;(b), the Transferred Group Benefits Employee must: (x)&nbsp;provide notice to Purchaser of
his or her intention to terminate within ninety (90)&nbsp;days following the act or omission which constitutes an event or circumstance described in clause&nbsp;(b); (y)&nbsp;give Purchaser an opportunity to cure its failure within thirty
(30)&nbsp;days following delivery of such notice; and (z)&nbsp;<U>provided</U> that Purchaser has failed to cure its failure within such thirty (30)&nbsp;day cure period, terminate employment within thirty (30)&nbsp;days following the expiration of
such cure period. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Group Cap</U>&#148; has the meaning set forth in <U>Section&nbsp;13.08(a)</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Group Deductible</U>&#148; has the meaning set forth in <U>Section&nbsp;13.08(a)</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Group Distributor</U>&#148; has the meaning set forth in <U>Section&nbsp;4.16</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Group Policies</U>&#148; means any Policy written for any group, association or organization, including an employer group of any
size, whether on an employer funded (in whole or in part) or voluntary basis. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Group Specified Damages</U>&#148; has the meaning
set forth in <U>Exhibit F</U> to this Agreement. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Guarantee</U>&#148; means that certain Guarantee, dated as of February&nbsp;3,
1998, as amended March&nbsp;3, 2006, by and between LMIC and the Company. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Guarantee Hold Harmless and Indemnification
Agreement</U>&#148; means a hold harmless and indemnification agreement substantially in the form attached hereto as <U>Exhibit L</U>, by and between LMIC, Purchaser and Purchaser Parent. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Hard Materials</U>&#148; has the meaning set forth in <U>Section&nbsp;8.11(d)</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>HSR Act</U>&#148; means the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>In-Force A&amp;H Group Business</U>&#148; means the business of entering into, underwriting, marketing, selling, issuing, delivering,
reinsuring, administering and distributing, as applicable, critical illness, hospital indemnity, accident, travel and pet insurance Policies, in each case, to the extent (a)&nbsp;included in the definition of Accident and Health Group Products, and
either (b)&nbsp;(i)&nbsp;issued by the Company prior to (and in force as of) the Closing Date or (ii)&nbsp;written by the Company prior to the Closing Date and scheduled to become effective on or after the Closing Date. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>In-Force A&amp;H Individual Business</U>&#148; means the business of entering into, underwriting, marketing, selling, issuing,
delivering, reinsuring, administering and distributing, as applicable, critical illness, hospital indemnity, accident, travel and pet insurance Policies, in each case, to the extent (a)&nbsp;included in the definition of Accident and Health
Individual Products, and either (b)&nbsp;(i)&nbsp;issued by the Company prior to (and in force as of) the Closing Date or (ii)&nbsp;written by the Company prior to the Closing Date and scheduled to become effective on or after the Closing Date. </P>

 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">19 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>In-Force Life and Annuity Policies</U>&#148; has the meaning set forth in the definition
of Life Business. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>In-Force Service&nbsp;&amp; Maintenance Employee</U>&#148; means a Life Employee who is listed on
Section&nbsp;5.22(c) of the Sellers Disclosure Schedule, as such Sellers Disclosure Schedule may be updated in accordance with <U>Section&nbsp;9.02(a)</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Inactive Group Benefits Employee</U>&#148; means any Group Benefits Employee who, as of the Closing Date, is on (a)&nbsp;short-term
disability or medical leave, (b)&nbsp;long-term disability leave, (c)&nbsp;leave under the Family Medical Leave Act of 1993 or a similar state or local law, (d)&nbsp;military leave, or (e)&nbsp;any other leave of absence, including temporary leave
for purposes of jury or military duty, maternity or paternity leave or approved personal leave. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Inactive Life Employee</U>&#148;
means any Life Employee who, as of the Closing Date, is on (a)&nbsp;short-term disability or medical leave, (b)&nbsp;long-term disability, (c)&nbsp;leave under the Family Medical Leave Act of 1993 or a similar state or local law, (d)&nbsp;military
leave, or (e)&nbsp;any other leave of absence, including temporary leave for purposes of jury or military duty, maternity or paternity leave or approved personal leave. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Indemnified Party</U>&#148; has the meaning set forth in <U>Section&nbsp;13.09(a)</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Indemnifying Party</U>&#148; has the meaning set forth in <U>Section&nbsp;13.09(a)</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Independent Accountant</U>&#148; means a jointly selected partner or senior employee at a nationally recognized accounting firm that
is not the auditor or independent accounting firm of any of the parties to the dispute in question and is otherwise independent and impartial; <U>provided</U>, <U>however</U>, that if such parties are unable to select an accounting firm within
twenty (20)&nbsp;Business Days, any party to the dispute in question may request that the American Arbitration Association appoint, within ten (10)&nbsp;Business Days from the date of such request or as soon as practicable thereafter, a partner or
senior employee at a nationally recognized accounting firm that is not the auditor or independent accounting firm of any of the parties to such dispute, who is a certified public accountant and who is independent and impartial, to be the Independent
Accountant. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Independent Actuary</U>&#148; means a jointly selected partner or senior employee at a nationally recognized
actuarial firm, who is a Fellow of the Society of Actuaries and who is independent and impartial; <U>provided</U>, <U>however</U>, that if the parties to the dispute in question are unable to select a partner or senior employee within twenty
(20)&nbsp;Business Days, any party to such dispute may request that the American Arbitration Association appoint, within ten (10)&nbsp;Business Days from the date of such request or as soon as practicable thereafter, a partner or senior employee at
a nationally recognized actuarial firm that is not an actuarial firm of any of the parties to such dispute, who is a Fellow of the Society of Actuaries and who is independent and impartial, to be the Independent Actuary. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Independent Section&nbsp;338(h)(10) Calculation</U>&#148; has the meaning set forth in <U>Section&nbsp;2.14(a)</U>. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">20 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Initial COLI Required Balance</U>&#148; means an amount equal to the absolute value of
the sum of (a)&nbsp;the amount set forth in the row &#147;Policy and contract reserves&#148;<I> plus</I> (b)&nbsp;the amount set forth in the row &#147;Interest maintenance reserve &#150; existing&#148;<I> plus</I> (c)&nbsp;the amount set forth in
the row &#147;Asset valuation reserve,&#148; in each case, as reflected on column 11 (labeled &#147;Reinsurance of COLI to Retained Entities&#148;) in each case, as set forth on the Estimated Balance Sheet Walk. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Intellectual Property</U>&#148; means collectively, all of the following in any and all jurisdictions, registered and unregistered:
all patents (including all reissues, divisions, renewals, extensions, provisionals, continuations and continuations-in-part thereof), Trademarks, copyrights (including copyrights in software) and copyrightable subject matter, trade secrets,
know-how, inventions, processes, proprietary technology, software, design and database rights and rights in data, formulae, and methodologies, and all applications and registrations for the foregoing, and all other similar intellectual property
rights, in each case to the extent arising or existing under applicable Law. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Intercompany Agreements</U>&#148; means
(a)&nbsp;all Contracts between any of the Transferred Companies, on the one hand, and any of Sellers or any Affiliate of Sellers (other than the Transferred Companies), or any of their respective directors, officers or employees, on the other hand,
and (b)&nbsp;any guarantee, keep well or surety bond (including any necessary collateral, indemnity or other agreements associated therewith) issued by or on behalf of (i)&nbsp;any of the Transferred Companies for the benefit of any of Sellers or
any Affiliate of Sellers (other than the Transferred Companies) or (ii)&nbsp;Sellers or any of their Affiliates (other than the Transferred Companies) for the benefit of any of the Transferred Companies; <U>provided</U>, <U>however</U>,
&#147;Intercompany Agreements&#148; shall not include the Contracts set forth on Section&nbsp;8.07(c) of the Sellers Disclosure Schedule. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Interest Rate</U>&#148; means the annual yield rate, on the date to which the 90-Day Treasury Rate relates, of actively traded U.S.
Treasury securities having a remaining duration to maturity of three (3)&nbsp;months, as such rate is published under &#147;Treasury Constant Maturities&#148; in Federal Reserve Statistical Release H.15(519). </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Interim Tax Period</U>&#148; means the portion of any Pre-Closing Tax Period, Balance Sheet Date Straddle Period, or Closing Date
Straddle Period that begins on the day after the Balance Sheet Date and ends on the Closing Date. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Interim Taxes</U>&#148; has
the meaning set forth in <U>Section&nbsp;10.04(b)</U>. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Internal Merger</U>&#148; has the meaning set forth in
<U>Section&nbsp;8.11(c)</U>. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Investment Assets</U>&#148; means any security and any other investment assets, including bonds,
notes, debentures, mortgage loans, collateral loans and all other instruments of indebtedness, real estate, stocks, partnership or joint venture interests and all other equity interests, certificates issued by or interests in trusts, derivatives,
investment funds, participation certificates or interests and all other assets acquired for investment purposes. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Investment
Company Act</U>&#148; has the meaning set forth in <U>Section&nbsp;3.04(b)</U>. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Investment Guidelines</U>&#148; has the meaning
set forth in <U>Section&nbsp;4.21</U>. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">21 </P>


<p Style='page-break-before:always'>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>IRS</U>&#148; means the Internal Revenue Service. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Knowledge</U>&#148; means, (a)&nbsp;with respect to Sellers, (i)&nbsp;the actual knowledge, after reasonable inquiry, of those
individuals listed on Section&nbsp;1.01(c)(i) of the Sellers Disclosure Schedule, and (ii)&nbsp;the actual knowledge of those individuals listed on Section&nbsp;1.01(c)(ii) of the Sellers Disclosure Schedule, without any inquiry beyond reviewing the
applicable representation or warranty set forth in <U>Articles III</U>, <U>Article&nbsp;IV</U> and <U>Article&nbsp;V</U> herein, (b)&nbsp;with respect to Purchaser, the actual knowledge, after reasonable inquiry, of those individuals listed on
Section&nbsp;1.01(a) of the Purchaser Disclosure Schedule and (c)&nbsp;with respect to Reinsurer, (i)&nbsp;the actual knowledge, after reasonable inquiry, of those individuals listed on Section&nbsp;1.01(a)(i) of the Reinsurer Disclosure Schedule,
and (ii)&nbsp;the actual knowledge of those individuals listed on Section&nbsp;1.01(a)(ii) of the Reinsurer Disclosure Schedule, without any inquiry beyond reviewing the applicable representation or warranty set forth in <U>Article&nbsp;VII</U>
herein; <U>provided</U> that (x)&nbsp;for purposes of <U>Section&nbsp;4.16</U>, <U>Section&nbsp;4.26</U>, <U>Section&nbsp;5.14</U> and <U>Section&nbsp;5.21</U>, reasonable inquiry shall not require any inquiry of any Group Distributor, Producer,
Life Distributor or Life Producer, as applicable, in each case, who is not an employee of Sellers or their Affiliates and (y)&nbsp;and for purposes of <U>Section&nbsp;6.08</U>, reasonable inquiry shall not require inquiry of any Person who is not an
employee of Purchaser or its Affiliates. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Law</U>&#148; means any federal, state or local law, statute, ordinance, administrative
ruling, rule, regulation, codes, statutes, judgments, injunctions, orders and decrees or principle of common law or equity imposed by or on behalf of a Governmental Authority. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Liabilities</U>&#148; means, with respect to any Person, any liability or obligation of such Person of any kind, character or
description, whether known or unknown, absolute or contingent, accrued or unaccrued, disputed or undisputed, liquidated or unliquidated, secured or unsecured, joint or several, due or to become due, vested or unvested, executory, determined,
determinable or otherwise. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Liberty Legacy Products</U>&#148; has the meaning set forth in <U>Exhibit Q</U> to this Agreement.
</P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Liberty Qualifying Termination</U>&#148; means (a)&nbsp;a termination of employment by LMGI or its Affiliates of an employee of
LMGI or its Affiliates other than for cause (including in connection with a redundancy, reduction in force or job elimination) or (b)&nbsp;a resignation of employment by an employee of LMGI or its Affiliates due to good reason (as defined in the
applicable LMGI plans, agreements and policies). </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Liberty Surplus Note</U>&#148; means a surplus note in the principal amount of
fifty five million ($55,000,000) (or such lesser amount as is designated by Reinsurer prior to the Closing) substantially in the form attached hereto as <U>Exhibit S</U>, issued by Reinsurer to LMIC. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Licensed Liberty IP</U>&#148; means rights in Intellectual Property that are (a)&nbsp;owned by Sellers or their Affiliates (other
than a Transferred Company), (b)&nbsp;used in a Transferred Business at any time between the date hereof and the Closing Date and (c)&nbsp;not used exclusively by or in an Excluded Business Function. For the avoidance of doubt, the Licensed Liberty
IP includes the software and systems set forth on <U>Schedule&nbsp;1.01(i)</U> solely to the extent such software or systems are owned or licensable by Sellers or their Affiliates (other than a Transferred Company)
</P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">22 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
pursuant to <U>Section&nbsp;8.28</U>, and also includes the Licensed Liberty Modifications and all implementations, embondiments, software code (including source and object code), scripts, data
structures, libraries, routines, database schemas and all written documentation in existence as of the date hereof or as of the Closing describing the design, development, implementation, maintenance and support of such Licensed Liberty IP. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Licensed Liberty Modifications</U>&#148; means modifications made to Intellectual Property licensed by Sellers or their Affiliates
from third parties that (a)&nbsp;are used in a Transferred Business at any time between the date hereof and the Closing Date, (b)&nbsp;Sellers or their Affiliates have the right to license to a Transferred Company following the Closing Date and
(c)&nbsp;are not exclusively used by or in an Excluded Business Function. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Licensed Lincoln IP</U>&#148; means rights in
Intellectual Property that are (a)&nbsp;owned by a Transferred Company as of the Closing Date, and (b)&nbsp;used in the Life Business at any time between the date hereof and the Closing Date.&nbsp;For the avoidance of doubt, the Licensed Lincoln IP
includes the Licensed Lincoln Modifications and all implementations, embodiments, software code (including source and object code), scripts, data structures, libraries, routines, database schemas and all written documentation describing the design,
development, implementation, maintenance and support of such Licensed Lincoln IP sufficient to allow for the use of the Licensed Lincoln IP in the Life Business, to the extent that such documentation is in the possession of the Transferred
Companies. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Licensed Lincoln Modifications</U>&#148; means modifications made to Intellectual Property licensed by a Transferred
Company, as of the Closing Date, from third parties, including from Sellers and their Affiliates that (a)&nbsp;were developed by or on behalf of a Transferred Company as of the Closing Date, (b)&nbsp;are used in the Life Business at any time between
the date hereof and the Closing Date, and (c)&nbsp;a Transferred Company has the right to license to Reinsurer following the Closing Date. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Life 401(k) Plan</U>&#148; has the meaning set forth in <U>Section&nbsp;9.02(e)</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Life Actuarial Report</U>&#148; has the meaning set forth in <U>Section&nbsp;5.11</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Life Books and Records</U>&#148; means (a)&nbsp;all Books and Records relating primarily to the Life Business and (b)&nbsp;Books and
Records relating to the Excluded BOLI/COLI Contracts. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Life Business</U>&#148; means the business of the Company of entering
into, underwriting, marketing, selling, issuing, delivering, reinsuring, canceling, servicing and administering individual life (including the BOLI/COLI Contracts other than the Excluded BOLI/COLI Contracts) and individual and group annuity Policies
(including annuity Policies in respect of qualified and non-qualified structured settlements) and the individual accident and health policies listed on Section&nbsp;1.01(d) of the Sellers Disclosure Schedule, in each case, to the extent issued by
the Company prior to (and in force as of, or reinstated after) the Closing (such Policies, the &#147;<U>In-Force Life and Annuity Policies</U>&#148;); <U>provided</U>, <U>however</U>, that the &#147;Life Business&#148; shall not include the Group
Benefits Business or the Retained Businesses. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Life Business Plans</U>&#148; means each Life Plan listed on Section&nbsp;9.02(g)
of the Sellers Disclosure Schedule. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">23 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Life Business Transition Services Agreement</U>&#148; means a transition services
agreement substantially in the form attached hereto as <U>Exhibit J</U>, by and between Purchaser and Reinsurer. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Life
Cap</U>&#148; has the meaning set forth in <U>Section&nbsp;13.08(b)</U>. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Life Continuation Period</U>&#148; has the meaning set
forth in <U>Section&nbsp;9.02(b)</U>. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Life Critical New Business Employees</U>&#148; means the Life Employee who is identified
on Section&nbsp;5.22(c) of the Sellers Disclosure Schedule as a &#147;Life Critical New Business Employee&#148;, as such Sellers Disclosure Schedule may be updated in accordance with <U>Section&nbsp;9.02(a)</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Life Deductible</U>&#148; has the meaning set forth in <U>Section&nbsp;13.08(b)</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Life Distributor</U>&#148; has the meaning set forth in <U>Section&nbsp;5.14</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Life Employee Transfer Date</U>&#148; has the meaning set forth in <U>Section&nbsp;9.02(a)(i)</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Life Employees</U>&#148; means each individual employed by a Seller or any of its Affiliates as of the date hereof, including the
In-Force Service&nbsp;&amp; Maintenance Employees, Life Operations Employees and Life Critical New Business Employees, who is listed on Section&nbsp;5.22(c) of the Sellers Disclosure Schedule, as such Sellers Disclosure Schedule may be updated in
accordance with <U>Section&nbsp;9.02(a)</U>. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Life Equity Employee</U>&#148; has the meaning set forth in
<U>Section&nbsp;9.06</U>. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Life Investment Assets</U>&#148; has the meaning set forth in <U>Section&nbsp;8.10(a)</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Life Offer Employees</U>&#148; means each In-Force Service&nbsp;&amp; Maintenance Employee, each Life Operations Employee and each
Life Critical New Business Employee, who is listed on Section&nbsp;5.22(c) of the Sellers Disclosure Schedule, as such Sellers Disclosure Schedule may be updated in accordance with <U>Section&nbsp;9.02(a)</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Life Operations Employees</U>&#148; means a Life Employee who is identified on Section&nbsp;5.22(c) of the Sellers Disclosure
Schedule as a &#147;Life Operations Employee&#148;, as such Sellers Disclosure Schedule may be updated in accordance with <U>Section&nbsp;9.02(a)</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Life Permits</U>&#148; has the meaning set forth in <U>Section&nbsp;5.02(b)</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Life Plan</U>&#148; means each Benefit Plan that is with or for the benefit of any Life Employee or any of their respective
beneficiaries and dependents. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Life Producer</U>&#148; means any Producer who wrote In-Force Life and Annuity Policies prior to
the Closing Date. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Life Producer Contract</U>&#148; has the meaning set forth in <U>Section&nbsp;5.21(b)</U>. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">24 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Life Qualifying Termination</U>&#148; means (a)&nbsp;a termination of employment by
Reinsurer or its Affiliates of a Transferred Life Employee other than for cause (including in connection with a redundancy, reduction in force or job elimination) or (b)&nbsp;a resignation of employment by a Transferred Life Employee due to
(i)&nbsp;any material reduction in the aggregate total compensation opportunity (consisting of Base Salary or Base Wages, short-term incentive opportunity and long-term incentive opportunity) of the Transferred Life Employee as in effect for such
individual immediately prior to the Closing Date, or (ii)&nbsp;a relocation of more than fifty (50)&nbsp;miles from the office to which the Transferred Life Employee is assigned immediately prior to the Closing Date; <U>provided</U>, <U>however</U>,
that with respect to any termination of employment pursuant to clause&nbsp;(b), the Transferred Life Employee must: (x)&nbsp;provide notice to Reinsurer of his or her intention to terminate within ninety (90)&nbsp;days following the act or omission
which constitutes an event or circumstance described in clause&nbsp;(b); (y)&nbsp;give Reinsurer an opportunity to cure its failure within thirty (30)&nbsp;days following delivery of such notice; and (z)&nbsp;<U>provided</U> that Reinsurer has
failed to cure its failure within such thirty (30)&nbsp;day cure period, terminate employment within thirty (30)&nbsp;days following the expiration of such cure period. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Life Reinsurance Contracts</U>&#148; means the Reinsurance Contracts whereby the Company has ceded risks arising under or relating to
one or more Reinsured Contracts. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Life Retention Program</U>&#148; has the meaning set forth in <U>Section&nbsp;9.07</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Life Separate Accounts</U>&#148; means the registered and non-registered separate accounts or sub-accounts of the Life Business as
set forth on Section&nbsp;3.04(e) of the Sellers Disclosure Schedule. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Life Specified Damages</U>&#148; has the meaning set forth
in <U>Exhibit N</U> to this Agreement. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Life Statements of Assets and Liabilities</U>&#148; has the meaning set forth in
<U>Section&nbsp;5.03(b)</U>. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Lincoln Surplus Note</U>&#148; means a surplus note in the principal amount of fifty five million
($55,000,000) (or such lesser amount as is designated by Reinsurer prior to the Closing) substantially in the form attached hereto as <U>Exhibit T</U>, issued by Reinsurer to Purchaser. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>LMFIC</U>&#148; has the meaning set forth in the Preamble. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>LMGI</U>&#148; has the meaning set forth in the Preamble. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>LMGI AU</U>&#148; has the meaning set forth in <U>Section&nbsp;4.27(e)</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>LMGI RU</U>&#148; has the meaning set forth in <U>Section&nbsp;4.27(e)</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>LMIC</U>&#148; has the meaning set forth in the Preamble. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>LIU</U>&#148; means Liberty Insurance Underwriters, Inc., an Illinois corporation. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Losses</U>&#148; means any damage, loss, liability, cost or expense (including reasonable and documented out-of-pocket
(a)&nbsp;expenses of investigation, enforcement and collection and (b)&nbsp;attorneys&#146; and accountants&#146; fees and expenses); <U>provided</U>, <U>however</U>, that Losses hereunder shall not include (i)&nbsp;treble, exemplary or punitive
damages other than as may be payable to third parties or (ii)&nbsp;indirect, special or consequential damages (in each case, other than (A)&nbsp;as may be payable to third parties or (B)&nbsp;reasonably foreseeable lost profits or diminution in
value). </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">25 </P>


<p Style='page-break-before:always'>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
Notwithstanding the foregoing, (I)&nbsp;for purposes of any indemnification claim arising pursuant to <U>Article&nbsp;V</U>, &#147;Losses&#148; shall not include any life insurance benefits,
annuity benefits, account values or other benefits or amounts arising under a life insurance or annuity Policy, in each case, if a corresponding reserve (other than an IBNR or similar non-seriatim reserve) in respect thereof was (x)&nbsp;established
and set forth on the Final Statement of Net Settlement Walk (on the basis provided for in the Statement of Net Settlement Methods and then only to the extent that the reserved amount was at least equal to the amount required to be set forth therein
pursuant to the Statement of Net Settlement Methods) or (y)&nbsp;transferred to Reinsurer pursuant to <U>Section&nbsp;8.23</U> and (II) without limitation of the preceding clause (I), with respect to <U>Section&nbsp;5.03(a)</U>,
<U>Section&nbsp;5.03(c)</U> and <U>Section&nbsp;5.05</U> (and <U>Section&nbsp;4.04(a)</U> to the extent relating to the Life Business), Losses in respect of reserves shall be calculated in accordance with the Statement of Net Settlement Methods
(applied as of any applicable date of determination). For purposes of any indemnification claim made pursuant to <U>Section&nbsp;8.23</U>, &#147;Losses&#148; means the applicable Discovered Contract Transfer Amount, as finally determined thereunder.
In addition, with respect to any claim for alleged Losses comprising insurance reserves with respect to the Life Business for which a method of calculation was contemplated by the Statement of Net Settlement Methods, &#147;Losses&#148; shall not
include any amounts in excess of the amount of such reserves that would be required to be established pursuant to the Statement of Net Settlement Methods applied as of the applicable calculation date. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Made Available</U>&#148; means, with respect to any document, agreement or information, that such document, agreement or information
has been posted to the Electronic Data Room and (a)&nbsp;as to Purchaser, placed in a subfolder titled &#147;Providence Group&#148; or &#147;Providence Group HR&#148; and (b)&nbsp;as to Reinsurer, placed in a subfolder titled &#147;Providence
Individual&#148; or &#147;Providence Individual HR,&#148; in each case, at least one (1)&nbsp;Business Days prior to the date hereof; <U>provided</U> that, in the event a claim for indemnification is brought by a Purchaser Indemnified Party in
respect of a breach or inaccuracy of any representation (i)&nbsp;deemed set forth in <U>Section&nbsp;4.32</U> or (ii)&nbsp;contained in <U>Article&nbsp;V</U> (in Purchaser&#146;s capacity as a Reinsurer Indemnified Party), all documents, agreements
or information Made Available to Reinsurer to the extent relating thereto shall be deemed Made Available to Purchaser. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Marks
Transition Date</U>&#148; shall be the date that is six (6)&nbsp;months following the date on which all Required Regulatory Approvals to effectuate the change of the Names and Marks are received by Purchaser. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Material Adverse Effect</U>&#148; means any event, circumstance, development, change, effect, or occurrence that is materially
adverse to the business, operations, condition (financial or otherwise) or results of operations of the Transferred Companies or the Transferred Businesses, taken as a whole; <U>provided</U>, <U>however</U>, that none of the following shall
constitute or be deemed to contribute to a &#147;Material Adverse Effect&#148;, and a &#147;Material Adverse Effect&#148; shall not include any event, circumstance, development, change, effect or occurrence to the extent resulting from, arising out
of or relating to (a)&nbsp;changes in general economic, business or regulatory conditions in the United States, including those generally affecting the group benefits, life insurance, annuity or related reinsurance industries, or the insurance,
reinsurance or financial services industries generally in the United States, (b)&nbsp;changes in United States or global financial or securities markets or conditions, including changes in prevailing interest rates or currency exchange rates or
price levels or trading volumes in the United States or foreign securities markets, (c)&nbsp;changes </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">26 </P>


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or proposed changes in, or adoptions of, any applicable Law (including with respect to the Tax Cuts and Jobs Act), GAAP or SAP or other applicable accounting rules, or the interpretation or
enforcement of any of the foregoing, including any changes in capital requirements for insurance companies required by applicable Law or mandated by any Governmental Authority, (d)&nbsp;changes in global or national political conditions (including
the outbreak or escalation of war, military action, sabotage or acts of terrorism) or any pandemics, earthquakes, hurricanes, tropical storms, floods, fires or other natural disasters, (e)&nbsp;actions taken by Purchaser (in the case of the Group
Benefits Business) or Reinsurer (in the case of the Life Business) or their respective Affiliates in breach or violation of this Agreement, (f)&nbsp;subject to Sellers having performed or complied with <U>Section&nbsp;8.10</U> in all material
respects, changes in the value of Investment Assets held by the Company following the date of this Agreement, (g)&nbsp;any action taken, or not taken, by Sellers, any of their Affiliates or any of their respective Representatives, (i)&nbsp;as
required by this Agreement (except with respect to Sellers&#146; and their Affiliates&#146; obligations under <U>Section&nbsp;8.01</U>) or (ii)&nbsp;at the written request of Purchaser or Reinsurer, as applicable, (h)&nbsp;the negotiation,
execution, announcement or performance of this Agreement or the Ancillary Agreements or the pendency or consummation of the transactions contemplated by this Agreement or the Ancillary Agreements, <U>provided</U>, if any of the foregoing result in a
breach of <U>Section&nbsp;3.02</U> or <U>Section&nbsp;3.03</U>, the event, circumstances, developments, changes, effects or occurrences that result from, arise out of or relate to such breach shall not be disregarded in determining whether a
&#147;Material Adverse Effect&#148; has occurred, (i)&nbsp;the identity of Purchaser, Reinsurer or any of their respective Affiliates or any communication by Purchaser, Reinsurer or any of their respective Affiliates regarding plans, proposals or
projections with respect to a Transferred Business or the Transferred Companies (including the impact thereof on relationships, contractual or otherwise, with policyholders, reinsurers, brokers, distributors, commercial or other partners or former,
current or future employees or Producers), (j)&nbsp;any downgrade or potential or threatened downgrade of the credit, financial strength, claims paying ability, insurance or other ratings of Sellers or the Transferred Companies (other than facts
underlying such downgrade or potential or threatened downgrade) or (k)&nbsp;the failure by Sellers or the Transferred Companies to meet any internal or analysts&#146; or rating agencies&#146; revenue, earnings, premium written or other financial
projections or forecasts (other than facts underlying such failure); except, in the cases of clauses&nbsp;(a)&nbsp;&#150; (d), to the extent such effect disproportionately adversely affects the Transferred Businesses or the Transferred Companies,
taken as a whole, relative to other Persons engaged in businesses similar to the Transferred Businesses in the United States. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Material Contract</U>&#148; has the meaning set forth in <U>Section&nbsp;4.11(a)</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Materials</U>&#148; has the meaning set forth in <U>Section&nbsp;8.11(d)</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Methodologies</U>&#148; means the Balance Sheet Methods, the Calculation Report Methods and the Statement of Net Settlement Methods.
</P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Multiemployer Plan</U>&#148; means any &#147;multiemployer plan&#148; within the meaning of Section&nbsp;3(37) of ERISA. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Multiparty Agreement</U>&#148; means each Contract for which services anticipated to be rendered or benefits anticipated to be
received by the Transferred Companies during the period that is twelve (12)&nbsp;months from the date hereof exceeds two hundred fifty thousand dollars ($250,000), and that has as parties thereto (a)&nbsp;any of the Transferred Companies,
(b)&nbsp;Sellers or any of their Affiliates (other than the Transferred Companies) and (c)&nbsp;a third party. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">27 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Names and Marks</U>&#148; means all Trademarks that incorporate the terms
&#147;Liberty&#148; or &#147;Liberty Mutual&#148; or the image of the Statue of Liberty (to the extent such image is used as a Trademark by Sellers or their Affiliates) or elements thereof or any derivation or variation of the foregoing or term or
image containing any of the foregoing used as a Trademark, including those listed on Section&nbsp;1.01(e) of the Sellers Disclosure Schedule. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Net Worth Maintenance Agreement</U>&#148; means that certain Net Worth Maintenance Agreement, dated as of January&nbsp;10, 2011,
between LMGI and Barco. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>New Benefit Plans</U>&#148; has the meaning set forth in <U>Section&nbsp;9.01(f)</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>New Reinsurer Benefit Plans</U>&#148; has the meaning set forth in <U>Section&nbsp;9.02(f)</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>New York Ceding Commission</U>&#148; means the portion of the Aggregate Ceding Commission allocable to the New York Reinsurance
Agreement. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>New York Courts</U>&#148; has the meaning set forth in <U>Section&nbsp;14.06(b)</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>New York Reinsurance Agreement</U>&#148; means a reinsurance agreement substantially in the form attached hereto as <U>Exhibit I</U>,
by and between the Company and Reinsurer. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>New York Reinsurer</U>&#148; means Protective Life and Annuity Insurance Company, a
stock life insurance company domiciled in the State of Alabama. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>New York Trust Account</U>&#148; means any and all of the
accounts established pursuant to the Trust Agreement (New York Business). </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Non-Compete Period</U>&#148; has the meaning set forth
in <U>Section&nbsp;8.17(a)</U>. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Non-Trust Asset</U>&#148; means the Investment Assets identified on Section&nbsp;1.01(c) of the
Reinsurer Disclosure Schedule. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Notice Date</U>&#148; has the meaning set forth in <U>Section&nbsp;9.02(a)</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Old Life Plans</U>&#148; has the meaning set forth in <U>Section&nbsp;9.02(f)</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Old Plans</U>&#148; has the meaning set forth in <U>Section&nbsp;9.01(f)</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Order</U>&#148; means any order, writ, judgment, injunction, decree, stipulation, determination or award entered by or with any
Governmental Authority. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Other Life Employees</U>&#148; has the meaning set forth in <U>Section&nbsp;9.02(a)</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Outside Date</U>&#148; has the meaning set forth in <U>Section&nbsp;12.01(e)</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>party</U>&#148; or &#147;<U>parties</U>&#148; has the meaning set forth in the Preamble. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">28 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Permit</U>&#148; means any license, permit, order, approval, consent, registration,
membership, authorization or qualification under any applicable Law or with any Governmental Authority or under any industry or non-governmental self-regulatory organization. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Permitted Encumbrances</U>&#148; means (a)&nbsp;materialmen&#146;s, mechanics&#146;, construction, carriers&#146;, workmen&#146;s and
repairmen&#146;s liens and other similar liens imposed by Law arising in the ordinary course of business, (b)&nbsp;Encumbrances for Taxes, assessments and governmental charges or levies not yet due and payable or that are being contested in good
faith and for which appropriate reserves are maintained in accordance with GAAP or SAP, as applicable, (c)&nbsp;easements, rights-of-way, encroachments, restrictions, conditions and other similar Encumbrances which individually or in the aggregate,
do not materially impair the use or value of the applicable real property, (d)&nbsp;statutory landlords&#146; liens, (e)&nbsp;with respect to the Intellectual Property, non-exclusive licenses of Intellectual Property entered into in the ordinary
course of business and (f)&nbsp;any other Encumbrances that do not, individually or in the aggregate, materially impair the value of or interfere with or prohibit the current or intended use or operation of such asset in the Transferred Businesses.
</P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Person</U>&#148; means any natural person, corporation, partnership, firm, association, limited liability company, trust, joint
venture, limited liability partnership or other entity, including a Governmental Authority. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Personal Information</U>&#148; means
any information from which an individual Person can be identified, whether by itself or in combination with other information, the collection, retention, use or disclosure of which is subject to applicable data privacy or data protection Laws. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Policies</U>&#148; means all policies, certificates, binders, riders, slips, covers, endorsements or other Contracts of direct
insurance, or insurance assumed by assumption reinsurance or novation. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Post-Balance Sheet Date Tax Period</U>&#148; means any
taxable period beginning after the Balance Sheet Date, and, in the case of any Balance Sheet Date Straddle Period, the portion of such period beginning after the Balance Sheet Date. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Post-Closing Asset Report</U>&#148; has the meaning set forth in <U>Section&nbsp;2.12(a)</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Post-Closing Balance Sheet</U>&#148; has the meaning set forth in <U>Section&nbsp;2.11(a)</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Post-Closing Calculation Report</U>&#148; has the meaning set forth in <U>Section&nbsp;2.11(a)</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Post-Closing Purchaser Report</U>&#148; has the meaning set forth in <U>Section&nbsp;2.11(a)</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Post-Closing Seriatim File</U>&#148; has the meaning set forth in <U>Section&nbsp;8.30(b)</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Post-Closing Settlement Report</U>&#148; has the meaning set forth in <U>Section&nbsp;2.12(a)</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Post-Closing Statement of Net Settlement Walk</U>&#148; has the meaning set forth in <U>Section&nbsp;2.12(a)</U>. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">29 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Post-Closing Tax Period</U>&#148; means any taxable period beginning after the Closing
Date, and, in the case of any Closing Date Straddle Period, the portion of such period beginning after the Closing Date. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Pre-Balance Sheet Date Group Taxes</U>&#148; means any Taxes (other than Taxes imposed on the Transferred Companies) imposed with
respect to the Acquired Group Benefits Assets, the Assumed Group Benefits Liabilities or the Group Benefits Business (i)&nbsp;for any Pre-Balance Sheet Date Tax Period or (ii)&nbsp;arising from any action or transaction by any of the Sellers or the
Transferred Companies (or any of their respective Affiliates) outside the ordinary course of business after the Balance Sheet Date and at or prior to the Closing (including any such action or transaction contemplated by the terms of this Agreement,
the COLI Administrative Services Agreement, the COLI Reinsurance Agreement, the COLI Trust Agreement, the Fronting and Inforce Reinsurance Agreement, or the Puerto Rico (and Other) Reinsurance Agreement). </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Pre-Balance Sheet Date Life Taxes</U>&#148; means any Taxes (other than Taxes imposed on the Transferred Companies) imposed with
respect to the Acquired Life Assets, the Assumed Life Liabilities, or the Life Business (i)&nbsp;for any Pre-Balance Sheet Date Tax Period or (ii)&nbsp;arising from any action or transaction by any of the Sellers or the Transferred Companies (or any
of their respective Affiliates) outside the ordinary course of business after the Balance Sheet Date and at or prior to the Closing (including any such action or transaction contemplated by the terms of this Agreement, the COLI Administrative
Services Agreement, the COLI Reinsurance Agreement, the COLI Trust Agreement, the Fronting and Inforce Reinsurance Agreement, or the Puerto Rico (and Other) Reinsurance Agreement). </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Pre-Balance Sheet Date Tax Period</U>&#148; means any taxable period ending on or prior to the Balance Sheet Date and, in the case of
any Balance Sheet Date Straddle Period, the portion of such period ending on and including the Balance Sheet Date. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Pre-Closing
Separate Tax Return</U>&#148; has the meaning set forth in <U>Section&nbsp;10.04(a)</U>. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Pre-Closing Tax Period</U>&#148; means
any taxable period ending on or prior to the Closing Date and, in the case of any Closing Date Straddle Period, the portion of such period ending on and including the Closing Date. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Producer</U>&#148; means any producer, broker, agent, general agent, managing general agent, master broker agency, financial
specialist or other Person, including any employee of Sellers or their Affiliates, in each case, responsible for writing, marketing, producing, selling, soliciting or servicing of Company Policies prior to the Closing Date. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Producer Contract</U>&#148; has the meaning set forth in <U>Section&nbsp;4.26(b)</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Program of Internal Replacement</U>&#148; has the meaning set forth in <U>Section&nbsp;8.20</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Property Taxes</U>&#148; means real, personal and intangible <I>ad valorem</I> property Taxes. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Puerto Rico (and Other) Reinsurance Agreement</U>&#148; means a reinsurance agreement substantially in the form attached hereto as
<U>Exhibit K</U>, by and between LMIC and Purchaser. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">30 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Purchase Price</U>&#148; means (a)&nbsp;(i) one billion five hundred sixty two million
dollars ($1,562,000,000), <I>plus</I> (ii)&nbsp;the Adjusted Statutory Capital (such amount, the &#147;<U>Base Purchase Price</U>&#148;) <I>plus </I>(b)&nbsp;the Credited Rate, <I>minus</I> (c)&nbsp;the Extraordinary Dividend Amount (if the
Extraordinary Dividend is paid by the Company to Sellers and not taken into account in the Adjusted Statutory Capital) <I>plus </I>(d)&nbsp;the Adjustment Amount <I>plus</I> (e)&nbsp;the Estimated Section&nbsp;338(h)(10) Elections Adjustment Amount.
</P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Purchaser</U>&#148; has the meaning set forth in the Preamble. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Purchaser 401(k) Plan</U>&#148; has the meaning set forth in <U>Section&nbsp;9.01(e)</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Purchaser Disclosure Schedule</U>&#148; has the meaning set forth in <U>Article&nbsp;VI</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Purchaser Employment Conditions</U>&#148; has the meaning set forth in <U>Section&nbsp;9.01(a)</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Purchaser Financial Statements</U>&#148; has the meaning set forth in <U>Section&nbsp;6.07(b)</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Purchaser Fundamental Representations</U>&#148; means the representations and warranties set forth in <U>Section&nbsp;6.01</U> and
<U>Section&nbsp;6.09</U>. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Purchaser Indemnified Parties</U>&#148; has the meaning set forth in <U>Section&nbsp;13.02</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Purchaser Obligations</U>&#148; has the meaning set forth in <U>Section&nbsp;14.15</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Purchaser Option</U>&#148; has the meaning set forth in <U>Section&nbsp;9.05</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Purchaser Parent</U>&#148; has the meaning set forth in the Preamble. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Purchaser Parent Financial Statements</U>&#148; has the meaning set forth in <U>Section&nbsp;6.07(a)</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Purchaser Releasee</U>&#148; has the meaning set forth in <U>Section&nbsp;8.19(a)</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Purchaser Releasor</U>&#148; has the meaning set forth in <U>Section&nbsp;8.19(b)</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Purchaser RSU Award</U>&#148; has the meaning set forth in <U>Section&nbsp;9.05</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Purchaser&#146;s Section&nbsp;338(h)(10) Calculation</U>&#148; shall have the meaning set forth in <U>Section&nbsp;2.14(b)</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Purchaser&#146;s Section&nbsp;338(h)(10) Elections Amount</U>&#148; means seventy three million dollars ($73,000,000). </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Qualifying Joint Venture</U>&#148; means any alliance or joint venture to which each party thereto (together with its Affiliates)
contributes or has contributed only assets that (a)&nbsp;generate revenues on a gross written premiums basis from a Competing Business constituting no more than one hundred million dollars ($100,000,000) (measured with reference to the most recently
completed fiscal year immediately prior to the date of the entry into such alliance or joint venture), or (b)&nbsp;if such revenues are greater than one hundred million dollars ($100,000,000), generate no more than twenty-five percent (25%)&nbsp;of
the gross revenues of the totality of the operating assets contributed by such party and its Affiliates to such alliance or joint venture (measured with reference to the most recently completed fiscal year immediately prior to the date of the entry
into such alliance or joint venture). </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">31 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Receiving Party</U>&#148; has the meaning set forth in <U>Section&nbsp;8.02(c)</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Reference Balance Sheet</U>&#148; means the column &#147;Y&#148; (labeled &#147;Reference Balance Sheet&#148;) on the Reference
Balance Sheet Walk. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Reference Balance Sheet Walk</U>&#148; means Annex B of the Balance Sheet Methods. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Reference Settlements Walk</U>&#148; means Annex A of the Statement of Net Settlement Methods. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Reinsurance Agreement</U>&#148; means a reinsurance agreement substantially in the form attached hereto as <U>Exhibit M</U>, by and
between the Company and Reinsurer. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Reinsurance Contracts</U>&#148; means reinsurance or retrocession Contracts to which the
Company is a party and under which the Company has ceded or assumed any risk and under which the Company may have any remaining Liabilities. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Reinsurance Statement of Objection</U>&#148; has the meaning set forth in <U>Section&nbsp;2.12(b)</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Reinsured Contracts</U>&#148; means &#147;Reinsured Contracts&#148; as defined in the Reinsurance Agreement; <U>provided</U> that,
for purposes of the indemnity provided in <U>Section&nbsp;13.05(d)</U>, Reinsured Contracts shall also include Reinsured Contracts that have been novated to Reinsurer. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Reinsured Liabilities</U>&#148; means &#147;Reinsured Liabilities&#148; as defined the Reinsurance Agreement. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Reinsurer</U>&#148; has the meaning set forth in the Preamble. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Reinsurer 401(k) Plan</U>&#148; has the meaning set forth in <U>Section&nbsp;9.02(e)</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Reinsurer Cash Award</U>&#148; has the meaning set forth in <U>Section&nbsp;9.06</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Reinsurer Disclosure Schedule</U>&#148; has the meaning set forth in <U>Article&nbsp;VII</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Reinsurer Employment Conditions</U>&#148; has the meaning set forth in <U>Section&nbsp;9.02(a)</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Reinsurer Financial Statements</U>&#148; has the meaning set forth in <U>Section&nbsp;7.06(a)</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Reinsurer Fundamental Representations</U>&#148; means the representations and warranties set forth in <U>Section&nbsp;7.01</U> and
<U>Section&nbsp;7.07</U>. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Reinsurer Indemnified Parties</U>&#148; has the meaning set forth in <U>Section&nbsp;13.03</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Reinsurer Obligations</U>&#148; has the meaning set forth in <U>Section&nbsp;14.17</U>. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">32 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Reinsurer Parent</U>&#148; has the meaning set forth in the Preamble. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Reinsurer Transition Services Agreement</U>&#148; means a transition services agreement substantially in the form attached hereto as
<U>Exhibit N</U>, by and between LMIC and Reinsurer. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Remaining Disputed Items</U>&#148; has the meaning set forth in
<U>Section&nbsp;2.14(a)</U>. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Representatives</U>&#148; means, with respect to any Person, such Person&#146;s directors,
officers, employees, agents, advisors and other representatives of such Person. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Required Regulatory Approvals</U>&#148; means
the consents, approvals, waivers, authorizations, notices and filings set forth on <U>Schedule&nbsp;1.01(l)</U>. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Restricted
Person</U>&#148; has the meaning set forth in <U>Section&nbsp;8.17(a)</U>. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Restricted Products</U>&#148; has the meaning set
forth in <U>Section&nbsp;8.17(a)</U>. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Restructuring Agreements</U>&#148; means the Contracts substantially in the forms attached
hereto as <U>Exhibit R</U>, which will be executed at or prior to Closing in order to effect the Restructuring Transactions. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Restructuring Transactions</U>&#148; has the meaning set forth in <U>Section&nbsp;8.14</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Retained Businesses</U>&#148; means the businesses of entering into, underwriting, marketing, selling, issuing, delivering,
reinsuring, administering and distributing, as applicable, (a)&nbsp;Accident and Health Products (other than the In-Force A&amp;H Group Business), (b)&nbsp;individual life and annuity policies (other than In-Force Life and Annuity Policies)
(c)&nbsp;Excluded BOLI/COLI Contracts and (d)&nbsp;for the avoidance of doubt, all other businesses conducted by Sellers and their Affiliates other than the Transferred Businesses. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Retention Incentive Bonus Letter</U>&#148; means the Retention Incentive Bonus Letters by and between the Sellers and their
Affiliates and each applicable Group Benefits Employee listed on Section&nbsp;8.12(f) and Section&nbsp;8.12(g) of the Sellers Disclosure Schedule. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>SAP</U>&#148; means, as to any Person, the statutory accounting principles and practices prescribed or permitted by the Governmental
Authorities responsible for the regulation of insurance companies in the jurisdiction in which such Person is domiciled. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Section&nbsp;1060 Forms</U>&#148; has the meaning set forth in <U>Section&nbsp;10.14(c)</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Section&nbsp;338(h)(10) Elections</U>&#148; has the meaning set forth in <U>Section&nbsp;10.14(a)</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Section 338(h)(10) Elections Cost</U>&#148; means the Estimated Section&nbsp;338(h)(10) Elections Cost and the Final
Section&nbsp;338(h)(10) Elections Cost, as applicable. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Section 338(h)(10) Elections Excess</U>&#148; means the Estimated
Section&nbsp;338(h)(10) Elections Excess and the Final Section&nbsp;338(h)(10) Elections Excess, as applicable. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Section
338(h)(10) Forms</U>&#148; has the meaning set forth in <U>Section&nbsp;10.14(c)</U>. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">33 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Section 338(h)(10) Law Firm</U>&#148; has the meaning set forth in
<U>Section&nbsp;2.14(a)</U>. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Securities Act</U>&#148; means the United States Securities Act of 1933, as amended. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Selected Other Life Employees</U>&#148; has the meaning set forth in <U>Section&nbsp;9.02(a)</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Seller Obligations</U>&#148; has the meaning set forth in <U>Section&nbsp;14.16</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Seller Releasee</U>&#148; has the meaning set forth in <U>Section&nbsp;8.19(b)</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Seller Releasor</U>&#148; has the meaning set forth in <U>Section&nbsp;8.19(a)</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Sellers</U>&#148; has the meaning set forth in the Preamble. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Sellers&#146; Detriment</U>&#148; has the meaning set forth in <U>Section&nbsp;2.14(a)</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Sellers Disclosure Schedule</U>&#148; has the meaning set forth in <U>Article&nbsp;III</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Sellers Equity Award Schedule</U>&#148; has the meaning set forth in <U>Section&nbsp;4.27(e)</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Sellers Equity Awards</U>&#148; has the meaning set forth in <U>Section&nbsp;4.27(e)</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>&#147;Sellers&#146; Section&nbsp;338(h)(10) Calculation</U>&#148; shall have the meaning set forth in Section&nbsp;2.14(a). </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Sellers Fundamental Representations</U>&#148; means the representations and warranties set forth in <U>Section&nbsp;3.01</U>,
<U>Section&nbsp;3.05</U> and <U>Section&nbsp;4.01</U>. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Sellers Guaranty</U>&#148; has the meaning set forth in
<U>Section&nbsp;8.08(a)</U>. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Sellers Indemnified Parties</U>&#148; has the meaning set forth in <U>Section&nbsp;13.04</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Sellers Review Period</U>&#148; has the meaning set forth in <U>Section&nbsp;2.11(b)</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Sellers&#146; Severance Policy</U>&#148; has the meaning set forth in <U>Section&nbsp;9.01(a)</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Sellers Statement of Objection</U>&#148; has the meaning set forth in <U>Section&nbsp;2.11(b)</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Seriatim File</U>&#148; has the meaning set forth in <U>Section&nbsp;5.03(e)</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Settlement Review Period</U>&#148; has the meaning set forth in <U>Section&nbsp;2.12(b)</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Shared Contracts</U>&#148; means each Contract entered into prior to the Closing Date which is between any of Sellers or any of their
Affiliates, on the one hand, and one or more third parties, on the other hand, that confers benefits or imposes obligations on the Group Benefits Business or a Transferred Company, but does not exclusively relate to the Group Benefits Business. </P>

 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">34 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Shared Employees</U>&#148; means the Group Benefits Employees indicated on
Section&nbsp;4.27(c) of the Sellers Disclosure Schedule, as such Sellers Disclosure Schedule may be updated in accordance with <U>Section&nbsp;9.01(a)</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Shared Life Contracts</U>&#148; means each Contract entered into prior to the Closing Date which is between any of Sellers or any of
their Affiliates, on the one hand, and one or more third parties, on the other hand, that confers benefits or imposes obligations on the Life Business, but does not exclusively relate to the Life Business. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Shares</U>&#148; has the meaning set forth in the Recitals. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Skadden</U>&#148; means Skadden, Arps, Slate, Meagher&nbsp;&amp; Flom LLP and its Affiliates. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Specified Actuary</U>&#148; means the actuarial firm set forth on Section&nbsp;1.01(f) of the Sellers Disclosure Schedule. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Specified CML Participations</U>&#148; means the Investment Assets identified on Section&nbsp;1.01(b) of the Reinsurer Disclosure
Schedule. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Specified Contracts</U>&#148; has the meaning set forth in <U>Section&nbsp;4.11(a)(v)</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Specified Deductible</U>&#148; has the meaning set forth in <U>Section&nbsp;13.08(a)</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Specified Deminimis Amount</U>&#148; has the meaning set forth in <U>Section&nbsp;13.08(a)</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Specified Investment Assets</U>&#148; has the meaning set forth in <U>Section&nbsp;8.10(f)</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Specified Provisions</U>&#148; has the meaning set forth in <U>Section&nbsp;8.27</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>SSDMF</U>&#148; means the Social Security Death Master File. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>SSDMF Methodologies</U>&#148; has the meaning set forth in <U>Section&nbsp;5.09(d)</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>St. James</U>&#148; means St. James Insurance Ltd., a company organized under the Laws of Bermuda. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Statement of Net Settlement</U>&#148; means the Estimated Statement of Net Settlement, the Post-Closing Statement of Net Settlement
or the Final Statement of Net Settlement, as applicable. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Statement of Net Settlement Methods</U>&#148; means the methodologies,
procedures, judgments, assumptions and estimates described in <U>Schedule&nbsp;1.01(m)</U>. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Straddle Period</U>&#148; means any
taxable period that begins on or before the Closing Date and ends after the Closing Date. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Straddle Period Separate Tax
Return</U>&#148; has the meaning set forth in <U>Section&nbsp;10.04(c)</U>. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Subsequent Loss</U>&#148; has the meaning set forth
in <U>Section&nbsp;10.05(b)</U>. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">35 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Subsidiary</U>&#148; means, with respect to any Person, any other Person as to which it
owns, directly or indirectly, or otherwise Controls, more than 50% of the voting shares or other similar interests. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><I></I>&#147;<U>Tax</U>&#148; or &#147;<U>Taxes</U>&#148; means any and all federal, state, local or non-U.S. income, gross receipts, gains,
premium, capital stock, franchise, profits, withholding, Social Security, unemployment, disability, real property<I>, ad valorem</I>, personal property, stamp, goods and services, excise, occupation, sales, use, transfer, value added, alternative
minimum, estimated or other tax of any nature whatsoever or any assessment or governmental charge of the same or of a similar nature to any of the foregoing, including any interest, penalty or addition thereto.<I> </I></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Tax Claim</U>&#148; means any claim with respect to Taxes made by any Taxing Authority that, if pursued successfully, would
reasonably be expected to serve as the basis for a claim for indemnification under <U>Article&nbsp;X</U>. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Tax
Proceeding</U>&#148; means any audit, examination, contest, litigation or other proceeding with respect to Taxes. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Tax
Return</U>&#148; means any return, declaration, report, claim for refund or information return, certificate, bill, statement or other written information filed with or supplied to, or required to be filed with or supplied to, any Taxing Authority,
including any supplement, schedule or attachment thereto, and including any amendment thereof. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Taxing Authority</U>&#148; means
the IRS and any other Governmental Authority responsible for the administration or collection of any Tax. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Third Party
Claim</U>&#148; has the meaning set forth in <U>Section&nbsp;13.09(a)</U>. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Total Consideration</U>&#148; has the meaning set
forth in <U>Section&nbsp;10.14(b)</U>. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Trademark</U>&#148; means any trademark, service mark, corporate or business name,
identifying logo, trade dress, slogan, domain name or brand name or other similar type of name or source identifier (including all goodwill associated with any of the foregoing, and all registrations and applications relating thereto). </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Transaction Agreements</U>&#148; means this Agreement and the Ancillary Agreements. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Transfer Date</U>&#148; means (a)&nbsp;with respect to a Transferred Group Benefits Employee, the applicable Group Benefits Employee
Transfer Date and (b)&nbsp;with respect to a Transferred Life Employee, the applicable Life Employee Transfer Date. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Transfer
Taxes</U>&#148; means all transfer Taxes (excluding Taxes measured in whole or in part by net income), including sales, use, excise, value-added, goods and services, stock, conveyance, registration, securities transactions, real estate, real estate
transfer, transfer, stamp, documentary, notarial, filing, recording, permit, license, authorization and similar Taxes, fees, duties, levies, customs, tariffs, imposts, assessments, obligations and charges. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">36 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Transferred Business Employees</U>&#148; means (a)&nbsp;the Transferred Group Benefits
Employees and (b)&nbsp;the Transferred Life Employees. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Transferred Businesses</U>&#148; means (a)&nbsp;the Group Benefits
Business and (b)&nbsp;the Life Business. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Transferred Companies</U>&#148; means (a)&nbsp;the Company and (b)&nbsp;Liberty
Assignment Corporation, a corporation organized under the Laws of the State of Delaware (the &#147;<U>Company Subsidiary</U>&#148;). </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Transferred Group Benefits Employee</U>&#148; has the meaning set forth in <U>Section&nbsp;9.01(a)(i)</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Transferred Group Benefits Intellectual Property</U>&#148; means (a)&nbsp;the Intellectual Property owned by LMIC or any of its
Affiliates (other than a Transferred Company) used exclusively in the Group Benefits Business, other than any of the Names and Marks, (b)&nbsp;the Intellectual Property owned by LMIC or any of its Affiliates (other than a Transferred Company) listed
on <U>Schedule 1.01(n)</U>, and (c)&nbsp;all rights of recovery associated with the foregoing. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Transferred Intellectual
Property</U>&#148; means (a)&nbsp;Transferred Group Benefits Intellectual Property and (b)&nbsp;Transferred Life Intellectual Property. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Transferred Investment Assets</U>&#148; has the meaning set forth in <U>Section&nbsp;8.10(a)</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Transferred Life Assets</U>&#148; has the meaning set forth in <U>Section&nbsp;2.09(e)(i)</U> or <U>Section&nbsp;2.09(e)(ii)</U>, as
applicable. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Transferred Life Investment Assets</U>&#148; has the meaning set forth in <U>Section&nbsp;2.09(e)(i)</U> or
<U>Section&nbsp;2.09(e)(ii)</U>, as applicable. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Transferred Life Employee</U>&#148; has the meaning set forth in
<U>Section&nbsp;9.02(a)(i)</U>. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Transferred Life Intellectual Property</U>&#148; means (a)&nbsp;the Intellectual Property owned
by LMIC or any of its Affiliates (other than a Transferred Company) used exclusively in the Life Business, other than any of the Names and Marks, (b)&nbsp;the Intellectual Property owned by LMIC or any of its Affiliates (other than a Transferred
Company) listed on <U>Schedule 1.01(o)</U>, and (c)&nbsp;all rights of recovery associated with the foregoing. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Transferred Life
Investment Assets</U>&#148; has the meaning set forth in <U>Section&nbsp;2.09(e)(i)</U>. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Treasury Regulations</U>&#148; means
the regulations promulgated under the Code. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Trust Account</U>&#148; means any and all of the accounts established pursuant to
the Trust Agreement (Non-New York Business). </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Trust Agreement (New York Business)</U>&#148; means a trust agreement by and among
the Company, Reinsurer and the Trustee substantially in the form of <U>Exhibit O</U>. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">37 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Trust Agreement (Non-New York Business)</U>&#148; means a trust agreement by and among
the Company, Reinsurer and the Trustee substantially in the form of <U>Exhibit P</U>. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Trustee</U>&#148; means the trustee or
custodian named in the Trust Agreement and any successor trustee or custodian appointed as such pursuant to the terms of the Trust Agreement. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Updated Seriatim File</U>&#148; has the meaning set forth in <U>Section&nbsp;5.03(e)</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Variable Reinsured Contracts</U>&#148; means Reinsured Contracts that are variable life insurance policies or variable annuity
contracts. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Vested Cancelled AU Award</U>&#148; has the meaning set forth in <U>Section&nbsp;9.04</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>WARN Act</U>&#148; means the Worker Adjustment and Retraining Notification Act and any similar state or local Laws. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Section&nbsp;1.02<U> Interpretation</U>. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(a) As used in this Agreement, references to the following terms have the meanings indicated: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(i) to the Preamble or to the Recitals, Sections, Articles, Exhibits or Schedules are to the Preamble or a Recital, Section or
Article of, or an Exhibit or Schedule to, this Agreement unless otherwise clearly indicated to the contrary; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(ii) to any
Contract (including this Agreement) or &#147;organizational document&#148; are to the Contract or organizational document as amended, modified, supplemented or replaced from time to time (<U>provided</U>, that for the purpose of the Sellers
Disclosure Schedule, no amendment, modification, supplement or replacement of a Contract or organizational document shall be deemed disclosed unless specifically set forth therein); </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(iii) to any Person include such Person&#146;s predecessors or successors, whether by merger, consolidation, amalgamation,
reorganization or otherwise; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(iv) to any Law are to such Law as amended, modified, supplemented or replaced from time to
time and all rules and regulations promulgated thereunder, and to any section of any Law include any successor to such section; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(v) to any Governmental Authority include any successor to the Governmental Authority and to any Affiliate include any
successor to the Affiliate; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(vi) to &#147;hereof,&#148; &#147;herein,&#148; &#147;hereunder,&#148; &#147;hereby,&#148;
&#147;herewith&#148; and words of similar import refer to this Agreement as a whole and not to any particular Article, Section or clause of this Agreement, unless otherwise clearly indicated to the contrary; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(vii) to the &#147;date of this Agreement,&#148; &#147;the date hereof&#148; and words of similar import refer to
January&nbsp;18, 2018; and </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">38 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(viii) to &#147;this Agreement&#148; include the Exhibits and Schedules
(including the Purchaser Disclosure Schedule, the Reinsurer Disclosure Schedule, the Sellers Disclosure Schedule and the other Schedules) to this Agreement. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(b) Whenever the words &#147;include,&#148; &#147;includes&#148; or &#147;including&#148; are used in this Agreement, they will be deemed to be
followed by the words &#147;without limitation.&#148; Whenever the word &#147;primarily&#148; is used in this Agreement, it will be deemed to be followed by the words &#147;or exclusively&#148;. The word &#147;or&#148; need not be disjunctive. Any
singular term in this Agreement will be deemed to include the plural, and any plural term the singular. All pronouns and variations of pronouns will be deemed to refer to the feminine, masculine or neuter gender, as the identity of the Person or
Persons referred to may require. Where a word or phrase is defined herein, each of its other grammatical forms shall have a corresponding meaning. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(c) Whenever the last day for the exercise of any right or the discharge of any duty under this Agreement falls on a day other than a Business
Day, the party having such right or duty shall have until the next Business Day to exercise such right or discharge such duty. Unless otherwise indicated, the word &#147;day&#148; shall be interpreted as a calendar day. With respect to any
determination of any period of time, unless otherwise set forth herein, the word &#147;from&#148; means &#147;from and including&#148; and the word &#147;to&#148; means &#147;to but excluding.&#148; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(d) The table of contents and headings contained in this Agreement are for reference purposes only and will not affect in any way the meaning
or interpretation of this Agreement. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(e) References to &#147;dollars&#148; or &#147;$&#148; mean United States dollars, unless otherwise
clearly indicated to the contrary. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(f) The parties have participated jointly in the negotiation and drafting of this Agreement;
consequently, in the event an ambiguity or question of intent or interpretation arises, this Agreement shall be construed as jointly drafted by the parties and no presumption or burden of proof shall arise favoring or disfavoring any party by virtue
of the authorship of any provision of this Agreement. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(g) No summary of this Agreement prepared by or on behalf of any party shall affect
the meaning or interpretation of this Agreement. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(h) All capitalized terms used without definition in the Exhibits and Schedules
(including the Purchaser Disclosure Schedule, the Reinsurer Disclosure Schedule and the Sellers Disclosure Schedule) to this Agreement shall have the meanings ascribed to such terms in this Agreement. </P>
<P STYLE="margin-top:24pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>ARTICLE&nbsp;II </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>TRANSFER AND ACQUISITION OF SHARES AND ASSETS </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Section&nbsp;2.01 <U>Place and Date of Closing</U>. Subject to the satisfaction or waiver of the conditions set forth in
<U>Article&nbsp;XI</U>, the closing of the transactions provided for in this Agreement (the &#147;<U>Closing</U>&#148;) shall take place at 10:00 a.m., New York City time, on the Closing Date, at the offices of Skadden, Arps, Slate,
Meagher&nbsp;&amp; Flom LLP, Four Times Square, New York, New York 10036 or at such other time and place as the parties may mutually agree in writing. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">39 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Section&nbsp;2.02 <U>Purchase and Sale of Company Shares</U>. Upon the terms and subject to the
conditions set forth in this Agreement, at the Closing, Sellers shall sell, convey, assign, transfer and deliver to Purchaser, free and clear of all Encumbrances (other than Encumbrances imposed under applicable federal and state securities Laws on
any subsequent transfers and Encumbrances created by Purchaser), and Purchaser shall purchase, acquire and accept from Sellers, all of Sellers&#146; right, title and interest in and to the Company Shares, representing all of the issued and
outstanding shares of capital stock of the Company as of the Closing Date. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Section&nbsp;2.03 <U>Purchase and Sale of Acquired Group
Benefits Assets</U>. Upon the terms and subject to the conditions set forth in this Agreement, at the Closing, Sellers shall, or shall cause one or more of their Affiliates (other than the Transferred Companies) to, sell, assign, transfer, convey
and deliver to the Company or Purchaser, and Purchaser shall, or shall cause the Company to, purchase, acquire, assume and accept from Sellers and their Affiliates (other than the Transferred Companies), the Acquired Group Benefits Assets, free and
clear of all Encumbrances other than Permitted Encumbrances and Encumbrances created by Purchaser. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Section&nbsp;2.04 <U>Purchase and Sale
of Acquired Life Assets</U>. Upon the terms and subject to the conditions set forth in this Agreement, at the Closing, Sellers shall, or shall cause one or more of their Affiliates to, sell, assign, transfer, convey and deliver to Reinsurer, and
Reinsurer shall purchase, acquire, assume and accept from Sellers and their Affiliates, the Acquired Life Assets, free and clear of all Encumbrances other than Permitted Encumbrances and Encumbrances created by Reinsurer. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Section&nbsp;2.05 <U>Assignment and Assumption of Assumed Group Benefits Liabilities</U>. Upon the terms and subject to the conditions set
forth in this Agreement, at the Closing, Sellers shall, or shall cause one or more of their Affiliates to, assign, and Purchaser shall assume and agree to, or shall cause one of its Affiliates (including, at the Closing, the Company) to, discharge
and perform when due, the Assumed Group Benefits Liabilities. Notwithstanding anything to the contrary contained in this Agreement, none of Purchaser, its Affiliates, or the Transferred Companies will assume or be liable for the Excluded Group
Liabilities. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Section&nbsp;2.06 <U>Assignment and Assumption of Assumed Life Liabilities</U>. Upon the terms and subject to the conditions
set forth in this Agreement, at the Closing, Sellers shall, or shall cause one or more of their Affiliates to, assign, and Reinsurer shall assume and agree to discharge and perform when due, the Assumed Life Liabilities. Notwithstanding anything to
the contrary contained in this Agreement, and other than as set forth in the Reinsurance Agreement, none of Reinsurer or its Affiliates will assume or be liable for the Excluded Life Liabilities. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Section&nbsp;2.07 <U>Reinsurance Transfers and Surplus Notes</U> </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(a) Upon the terms and subject to the conditions set forth in this Agreement, at the Closing and following the transactions specified in
<U>Sections 2.02</U> through <U>2.06</U>, the Company shall cede to Reinsurer, and Reinsurer shall accept and reinsure, the Reinsured Liabilities, as defined in the Reinsurance Agreement, upon the terms and subject to the conditions set forth
therein. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">40 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(b) Upon the terms and subject to the conditions set forth in this Agreement and the Liberty
Surplus Note and the Lincoln Surplus Note, as applicable, at the Closing, (i)&nbsp;LMIC shall purchase the Liberty Surplus Note from Reinsurer, for a purchase price equal to the principal amount thereof, by wire transfer to Reinsurer of immediately
available funds and (ii)&nbsp;Purchaser shall purchase the Lincoln Surplus Note from Reinsurer, for a purchase price equal to the principal amount thereof, by wire transfer to Reinsurer of immediately available funds. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Section&nbsp;2.08 <U>Closing Purchase Price Payment</U>. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(a) Sellers shall cause to be prepared and delivered to Purchaser at least five (5)&nbsp;Business Days prior to the Closing Date a balance
sheet walk prepared in accordance with the Balance Sheet Methods and in the same format as the Reference Balance Sheet Walk (the &#147;<U>Estimated Balance Sheet Walk</U>&#148;) and a Calculation Report prepared in accordance with the Calculation
Report Methods (the &#147;<U>Closing Calculation Report</U>&#148;). The Estimated Balance Sheet Walk will be accompanied by the documentation set forth on Section&nbsp;2.08(a) of the Purchaser Disclosure Schedule. Sellers will review and consider in
good faith any revisions to the Estimated Balance Sheet Walk or the Closing Calculation Report proposed in good faith by Purchaser, provide reasonably requested supporting calculations and detail relating to the amounts and calculations underlying
any such revisions and implement such revisions that Sellers determine in good faith are appropriate; <U>provided</U> that (i)&nbsp;Sellers shall be under no obligation to accept any such proposed revisions that Sellers determine in good faith are
not appropriate, (ii)&nbsp;the acceptance of any such proposed revisions shall not constitute a condition to Purchaser&#146;s obligations to consummate the transactions contemplated hereby and (iii)&nbsp;Sellers&#146; obligations to review and
consider in good faith any such proposed revisions shall in no event require that the contemplated Closing Date be postponed or otherwise delayed. For the avoidance of doubt, nothing in this <U>Section&nbsp;2.08(a)</U> shall be deemed a waiver by
Purchaser of its right to raise any such revisions pursuant to <U>Section&nbsp;2.11</U>, or shall otherwise affect the rights of any party pursuant to <U>Section&nbsp;2.11</U>. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(b) At the Closing, Purchaser shall pay (i)&nbsp;to LMIC an amount equal to ninety percent (90%)&nbsp;of the Closing Purchase Price and
(ii)&nbsp;to LMFIC an amount equal to ten percent (10%)&nbsp;of the Closing Purchase Price (as so paid, the &#147;<U>Closing Payment</U>&#148;), in each case, without withholding or deduction, except pursuant to <U>Section&nbsp;2.15</U>, to the
accounts designated in writing by Sellers at least two (2)&nbsp;Business Days prior to the Closing Date. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Section&nbsp;2.09 <U>Closing Net
Settlement Payments</U>. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(a) Sellers shall cause to be prepared and delivered to Reinsurer, with a copy to Purchaser, at least four
(4)&nbsp;Business Days prior to the Closing Date a report including (i)&nbsp;(A)&nbsp;an estimated statement of net settlement walk for the Life Business as of the Balance Sheet Date (the &#147;<U>Estimated Statement of Net Settlement
Walk</U>&#148;) prepared in accordance with the Statement of Net Settlement Methods and in the same format as the Reference Settlements Walk, (B)&nbsp;the Book Value and Fair Market Value of each of the Eligible Life Investment Assets as of three
(3)&nbsp;Business Days prior to the anticipated Closing Date (the &#147;<U>Estimated Life Asset Report</U>&#148;), (ii)&nbsp;(A)</P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">41 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
the Book Value and Fair Market Value of each of the COLI Investment Assets as of three (3)&nbsp;Business Days prior to the anticipated Closing Date (the &#147;<U>COLI Asset Report</U>&#148;) and
(B)&nbsp;a calculation of the Initial COLI Required Balance (together with the COLI Asset Report, the &#147;<U>COLI Report</U>&#148;) and (iii)&nbsp;the Closing Calculation Report (and together with the Estimated Statement of Net Settlement Walk and
the Estimated Life Asset Report, the &#147;<U>Estimated Report</U>&#148;). </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(b) The Estimated Report will be accompanied by the
documentation set forth on Section&nbsp;2.09(b) of the Reinsurer Disclosure Schedule. Sellers will review and consider in good faith any revisions to the Estimated Report proposed in good faith by Reinsurer, provide reasonably requested supporting
calculations and detail relating to the amounts and calculations underlying any such revisions and implement such revisions that Sellers determine in good faith are appropriate; <U>provided</U>, that (i)&nbsp;Sellers shall be under no obligation to
accept any such proposed revisions that Sellers determine in good faith are not appropriate, (ii)&nbsp;the acceptance of any such proposed revisions shall not constitute a condition to Reinsurer&#146;s obligations to consummate the transactions
contemplated hereby and (iii)&nbsp;Sellers&#146; obligations to review and consider in good faith any such proposed revisions shall in no event require that the contemplated Closing Date be postponed or otherwise delayed. For the avoidance of doubt,
nothing in this <U>Section&nbsp;2.09(b)</U> shall be deemed a waiver by Reinsurer of its right to raise any such revisions pursuant to <U>Section&nbsp;2.12</U> or shall otherwise affect the rights of any party pursuant to <U>Section&nbsp;2.12</U>.
</P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(c) Between the date hereof and the Closing Date, Sellers shall reasonably cooperate with Purchaser and Reinsurer to assist Purchaser and
Reinsurer in the calculation of the &#147;Required Balance&#148; as defined in each of the Reinsurance Agreement and the New York Reinsurance Agreement based on the amounts set forth in the Estimated Statement of Net Settlement (the
&#147;<U>Estimated Required Balance</U>&#148; and the &#147;<U>Estimated New York Required Balance</U>,&#148; respectively). Neither Sellers nor any of their Affiliates shall have any Liability to Purchaser, Reinsurer or any of their respective
Affiliates in respect of the calculation described in the preceding sentence of this <U>Section&nbsp;2.09(c)</U>. At least two (2)&nbsp;Business Days prior to the Closing Date, Purchaser and Reinsurer shall deliver a statement setting forth
(i)&nbsp;the calculation of the Estimated Required Balance and the Estimated New York Required Balance (the &#147;<U>Estimated Required Balance Report</U>&#148;) and (ii)&nbsp;an allocation of the full amount of the Estimated Aggregate Ceding
Commission between the Ceding Commission (the &#147;<U>Estimated Ceding Commission</U>&#148;) and the New York Ceding Commission (the &#147;<U>Estimated New York Ceding Commission</U>&#148;), respectively (the &#147;<U>Estimated Ceding Commission
Report</U>&#148;). </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(d) In the event that: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(i) (A)&nbsp;the amount set forth in the row labeled &#147;Total assets&#148; on the Estimated Statement of Net Settlement (the
&#147;<U>Closing Total Assets</U>&#148;) <I>minus</I> the amount set forth in the row labeled &#147;Total liabilities&#148; on the Estimated Statement of Net Settlement (the &#147;<U>Closing Total Liabilities</U>&#148;) (such difference of Closing
Total Assets <I>minus</I> Closing Total Liabilities, the &#147;<U>Closing Reconciliation Amount</U>&#148;) is a positive number then (B)&nbsp;the &#147;<U>Closing Net Settlement Amount</U>&#148; shall be an amount equal to the amount set forth in
the line item labeled &#147;Total cash and invested assets&#148; on the Estimated Statement of Net Settlement (the &#147;<U>Closing Total Cash and Invested Assets</U>&#148;) <I>minus</I> the Closing Reconciliation Amount; and </P>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(ii) (A)&nbsp;the Closing Reconciliation Amount is a negative number, then
(B)&nbsp;the &#147;<U>Closing Net Settlement Amount</U>&#148; shall be an amount equal to the Closing Total Cash and Invested Assets <I>plus </I>the absolute value of the Closing Reconciliation Amount. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(e) In the event that: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(i) the aggregate Book Value of the Eligible Life Investment Assets as reflected in the Estimated Life Asset Report (the
&#147;<U>Closing Life Book Value</U>&#148;) exceeds the Closing Net Settlement Amount, (A)&nbsp;Reinsurer and Purchaser shall apply the selection criteria listed on <U>Section&nbsp;2.09(e)</U> of the Reinsurer Disclosure Schedule to select Eligible
Life Investment Assets having an aggregate Book Value that is as close as reasonably possible but is at least equal to the amount of such excess, which will be retained by the Company (the &#147;<U>Excluded Life Investment Assets</U>&#148;) and
(B)&nbsp;the &#147;<U>Transferred Life Assets</U>&#148; shall comprise (I)&nbsp;the Eligible Life Investment Assets, excluding the Excluded Life Investment Assets (as so excluded, the &#147;<U>Transferred Life Investment Assets</U>&#148;) together
with (II) cash in amount equal to the difference of Closing Net Settlement Amount <I>minus</I> the Book Value of the Transferred Life Investment Assets as reflected in the Estimated Life Asset Report; and </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(ii) the Closing Life Book Value is less than the Closing Net Settlement Amount, the &#147;<U>Transferred Life Assets</U>&#148;
shall comprise (A)&nbsp;the Eligible Life Investment Assets (the &#147;<U>Transferred Life Investment Assets</U>&#148;), together with (B)&nbsp;cash in an amount equal to the difference of Closing Net Settlement Amount <I>minus</I> the Book Value of
the Eligible Life Investment Assets as reflected in the Estimated Life Asset Report. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(f) On the Closing Date, upon the terms and subject
to the conditions set forth in this Agreement and the Reinsurance Agreement, Reinsurer shall pay the Ceding Commission (as may be adjusted, if applicable, by the Net Retained Liabilities Ceding Commission Adjustment as defined in, and contemplated
by, the Reinsurance Agreement) <I>plus</I> the Credited Life Non-New York Rate, and New York Reinsurer shall pay the New York Ceding Commission (as may be adjusted, if applicable, by the Net Retained Liabilities Ceding Commission Adjustment as
defined in, and contemplated by, the New York Reinsurance Agreement) plus the Credited Life New York Rate, to the Company (each as set forth in the Estimated Ceding Commission Report) and: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(i) if the aggregate Fair Market Value, as set forth on the Estimated Life Asset Report, of the Transferred Life Assets is less
than or equal to the sum of the Estimated Required Balance and the Estimated New York Required Balance as set forth on the Estimated Required Balance Report, Sellers and Purchaser shall cause the Company to transfer to the Trust Accounts (as
allocated, at Purchaser&#146;s direction, between the Trust Account and the New York Trust Account) all of the Transferred Life Assets, and Reinsurer shall transfer to the applicable Trust Account cash or Eligible Assets (as defined in the
applicable Transaction Reinsurance Agreement) having an aggregate Fair Market Value equal to the excess, if any, of the applicable Estimated Required Balance over the aggregate Fair Market Value of the Transferred Life Assets on deposited therein;
and </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">43 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(ii) if the aggregate Fair Market Value, as set forth on the Estimated Life Asset
Report, of the Transferred Life Assets exceeds the sum of the Estimated Required Balance and the Estimated New York Required Balance, then Sellers and Purchaser shall cause the Company to transfer to Reinsurer Transferred Life Assets, as selected by
Reinsurer, with an aggregate Fair Market Value equal to such excess and shall cause the Company to transfer the remainder of the Transferred Life Assets to the Trust Accounts (as allocated between the Trust Account and the New York Trust Account at
Purchaser&#146;s direction); </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><U>provided</U> that, notwithstanding the foregoing, if any of the Transferred Life Assets that are required to be
transferred to the Trust Accounts pursuant to clauses (i)&nbsp;or (ii)&nbsp;above are Non-Trust Assets, then Sellers and Purchaser (at Purchaser&#146;s direction) shall cause the Company to transfer such Non-Trust Assets to Reinsurer rather than to
the Trust Account and, in lieu thereof and in addition to any other obligations of Reinsurer contemplated in clause (i)&nbsp;above, if applicable, Reinsurer shall transfer to the applicable Trust Account cash or Eligible Assets (as defined in the
applicable Reinsurance Agreement) having an aggregate Fair Market Value equal to the Fair Market Value of the Non-Trust Assets that would have otherwise been transferred to the applicable Trust Account. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(g) At the Closing: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(i) in the event that the aggregate Book Value of the COLI Investment Assets as reflected in the COLI Asset Report (the
&#147;<U>Closing COLI Book Value</U>&#148;) exceeds the Initial COLI Required Balance, (A)&nbsp;Sellers shall cause the Company to transfer (I)&nbsp;COLI Investment Assets with a Book Value at least equal to the amount of such excess to Bermuda
Reinsurer and (II) all other COLI Investment Assets to the COLI Trust Account and (B)&nbsp;the Bermuda Reinsurer shall transfer to the COLI Trust Account cash in an amount equal to the Initial COLI Required Balance <I>minus</I> an amount equal to
the Fair Market Value of the COLI Investment Assets on deposit therein; and </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(ii) in the event that the Closing COLI Book
Value is less than the Initial COLI Required Balance, then (A)&nbsp;the Company shall transfer the COLI Investment Assets to the COLI Trust Account and (B)&nbsp;the Bermuda Reinsurer shall transfer Eligible Assets (as defined in the COLI Trust
Agreement) with a Fair Market Value in an amount equal to difference of the Initial COLI Required Balance minus the Fair Market Value of the COLI Investment Assets on deposit therein. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(h) All cash required to be transferred on the Closing Date pursuant to <U>Section&nbsp;2.08</U> or this <U>Section&nbsp;2.09</U> shall be
transferred by wire transfer of immediately available funds. Any Transferred Life Assets to be transferred to a Trust Account shall be transferred in the manner set forth in the applicable Trust Agreement. Sellers shall, and shall cause their
respective Affiliates to, reasonably cooperate and assist, at Purchaser&#146;s or Reinsurer&#146;s direction, with respect to the re-registration or re-titling of Transferred Life Investment Assets. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">44 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Section&nbsp;2.10 <U>Additional Deliveries at Closing</U>. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(a) Upon the terms and subject to the conditions set forth in this Agreement, at the Closing, Sellers shall deliver or cause to be delivered to
each of Purchaser and Reinsurer, as applicable, the following: </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(i) counterparts of each Ancillary Agreement (other than
the Distribution Agreement if the parties thereto have not agreed upon the final terms thereof) to which a Seller or an Affiliate of Sellers (including a Transferred Company) is a party, each duly executed on behalf of Sellers or such Affiliate
(including a Transferred Company); </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(ii) the certificates referred to in <U>Sections&nbsp;11.02(a)</U>, <U>11.02(b)</U>,
<U>11.03(a)</U> and <U>11.03(b)</U>; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(iii) a duly executed certificate of non-foreign status from each Seller and from
each Affiliate of Seller transferring (or treated as transferring for U.S. federal income Tax purposes) any Acquired Assets, dated as of the Closing Date, substantially in the form of the sample certification set forth in Treasury Regulations
Section&nbsp;1.1445-2(b)(2)(iv)(B); </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(iv) evidence that the Restructuring Transactions have been consummated and the
Intercompany Agreements to be terminated or amended in accordance with <U>Section&nbsp;8.07</U> have been so terminated or amended, as applicable; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(v) a duly executed IRS Form 8023 for each Transferred Company; and </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(vi) such other agreements, instruments and documents as are contemplated by this Agreement or the Ancillary Agreements to be
executed and delivered by Sellers or any of their Affiliates (including the Transferred Companies) on or prior to the Closing Date. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(b)
Upon the terms and subject to the conditions set forth in this Agreement, at the Closing, Sellers shall deliver or cause to be delivered to Purchaser the following: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(i) one or more stock certificates evidencing the Company Shares duly endorsed in blank or with stock powers duly executed in
proper form for transfer; and </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(ii) duly tendered written resignations and releases of each of the directors and managers
of the Transferred Companies set forth on Section&nbsp;2.10(b)(ii) of the Sellers Disclosure Schedule, effective as of the Closing. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(c)
Upon the terms and subject to the conditions set forth in this Agreement, at the Closing, Purchaser shall deliver or cause to be delivered to each of Sellers and Reinsurer, as applicable, the following: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(i) counterparts of each Ancillary Agreement to which Purchaser or an Affiliate of Purchaser is a party, each duly executed on
behalf of Purchaser or such Affiliate; </P>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(ii) the certificates referred to in <U>Section&nbsp;11.03(c)</U>,
<U>Section&nbsp;11.04(a)</U> and <U>Section&nbsp;11.04(b)</U>; and </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(iii) such other agreements, instruments and documents
as are contemplated by this Agreement or the Ancillary Agreements to be executed and delivered by Purchaser or any of its Affiliates on or prior to the Closing Date. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(d) Upon the terms and subject to the conditions set forth in this Agreement, at the Closing, Reinsurer shall deliver or cause to be delivered
to each of Sellers and Purchaser, as applicable, the following: </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(i) counterparts of each Ancillary Agreement (other than
the Distribution Agreement if the parties thereto have not agreed upon the final terms thereof) to which Reinsurer or an Affiliate of Reinsurer is a party, each duly executed on behalf of Reinsurer or such Affiliate; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(ii) the certificates referred to in <U>Section&nbsp;11.02(c)</U> and <U>Section&nbsp;11.04(c)</U>; and </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(iii) such other agreements, instruments and documents as are contemplated by this Agreement or the Ancillary Agreements to be
executed and delivered by Reinsurer or any of its Affiliates on or prior to the Closing Date. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Section&nbsp;2.11 <U>Post-Closing Purchase
Price Adjustment</U>. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(a) Within ten (10)&nbsp;days following the determination of the Final Reinsurer Report pursuant to
<U>Section&nbsp;2.12</U>, Purchaser shall prepare and deliver to Sellers a Balance Sheet of the Company as of the Balance Sheet Date, which Balance Sheet shall be prepared (i)&nbsp;in the same format as the Reference Balance Sheet, (ii)&nbsp;in
accordance with the Balance Sheet Methods and (iii)&nbsp;in a manner consistent with the Final Settlement Report (the &#147;<U>Post-Closing Balance Sheet</U>&#148;) and a Calculation Report as of the Balance Sheet Date, which Calculation Report
shall be prepared in accordance with the Calculation Report Methods and in a manner consistent with Final Settlement Report (the &#147;<U>Post-Closing Calculation Report</U>,&#148; and together with the Post-Closing Balance Sheet, the
&#147;<U>Post-Closing Purchaser Report</U>&#148;). </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(b) Following receipt of the Post-Closing Purchaser Report, Sellers shall have sixty
(60)&nbsp;days (the &#147;<U>Sellers Review Period</U>&#148;) to review such Post-Closing Purchaser Report. In connection with the review of the Post-Closing Purchaser Report, Purchaser shall, and shall cause the Company to provide to Sellers and
their respective Representatives, upon the request of a Seller, reasonable access to the Books and Records with respect to the period up to and including the Closing Date (including any such Books and Records created after the Closing Date to the
extent relating to the period up to and including the Closing Date), including any accountants&#146; work papers or internal accounting records or reserving papers, files and models in each case to the extent relating to the preparation of the
Post-Closing Purchaser Report, and Purchaser shall make reasonably available to Sellers and their respective Representatives personnel of Purchaser and its Affiliates (including the Company) that were involved in the preparation of the Post-Closing
Purchaser Report; <U>provided</U>, <U>however</U>, that the independent accountants of Purchaser shall not be obligated to make any work papers available to Sellers, unless and until Sellers have signed a customary confidentiality and hold harmless
agreement </P>
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relating to such access to work papers in form and substance reasonably acceptable to such independent accountants. If Sellers, in compliance with the preceding sentence, have accepted the
Post-Closing Purchaser Report in writing or have not given written notice to Purchaser setting forth any objection to the Post-Closing Purchaser Report (a &#147;<U>Sellers Statement of Objection</U>&#148;) prior to the expiration of the Sellers
Review Period, then the Post-Closing Purchaser Report shall be final and binding upon the parties and shall be deemed the &#147;<U>Final Purchaser Report,</U>&#148; and the components thereof shall be deemed the Final Balance Sheet and the Final
Calculation Report&#148; Sellers may only object to the Post-Closing Purchaser Report on the basis of (i)&nbsp;mathematical error, (ii)&nbsp;such Post-Closing Purchaser Report not being calculated in accordance with the Balance Sheet Methods or the
Calculation Report Methods, as applicable, or (iii)&nbsp;such Post-Closing Purchaser Report not be calculated in a manner consistent with the Final Settlement Report. If Sellers, in compliance with the preceding sentence, deliver a Sellers Statement
of Objection prior to the expiration of the Sellers Review Period, then Sellers and Purchaser shall attempt to amicably resolve any such objection within twenty (20)&nbsp;days following receipt by Purchaser of the Sellers Statement of Objection.
</P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(c) If any such objections are resolved in writing by Sellers and Purchaser, then such resolutions shall be final and binding upon the
parties and shall be incorporated into the Final Purchaser Report. If any such objections are not resolved in writing within twenty (20)&nbsp;days following receipt by Purchaser of the Sellers Statement of Objection, then Sellers and Purchaser shall
submit any such objections which remain unresolved to the Independent Accountant. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(d) Within ten (10)&nbsp;days of the appointment of the
Independent Accountant, (i)&nbsp;Purchaser shall provide the Independent Accountant with a copy of the Post-Closing Purchaser Report (as modified by any adjustments agreed to in writing by Sellers and Purchaser pursuant to
<U>Section&nbsp;2.11(c)</U>), and (ii)&nbsp;Sellers and Purchaser shall each prepare and deliver to the Independent Accountant a written report of such line item or items identified in the Sellers Statement of Objection remaining in dispute, which
report shall set forth the specific dollar amount proposed by such party for each such item or items and a detailed explanation of the basis and rationale for such party&#146;s positions, and shall concurrently deliver a copy of such materials to
the other party. Each party shall then be given an opportunity to supplement the information and support included in its initial submission with one additional submission to respond to any arguments or positions taken by the other party in such
other party&#146;s initial submission, which supplemental information shall be submitted to the Independent Accountant (with a copy thereof to the other party) within seven (7)&nbsp;days after the first date on which both parties have submitted
their respective initial submissions to the Independent Accountant. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(e) The Independent Accountant shall thereafter finally determine the
manner in which such item or items shall be treated in the Final Purchaser Report. In making its determination, the Independent Accountant shall (i)&nbsp;consider only those items that (A)&nbsp;are identified in the Sellers Statement of Objection or
in Sellers&#146; supplemental submissions delivered to the Independent Accountant pursuant to <U>Section&nbsp;2.11(d)</U> as in dispute and (B)&nbsp;were not resolved in writing by Sellers and Purchaser, (ii)&nbsp;base its determination solely on
such reports (including Sellers Statement of Objection and supplemental reports delivered to the Independent Accountant pursuant to <U>Section&nbsp;2.11(d)</U>) submitted by Sellers and Purchaser and each of the Balance Sheet Methods and the
Calculation Report Methods (including the methodologies, procedures, judgments, assumptions and estimates described in the Balance Sheet Methods and </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">47 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
Calculation Report Methods, respectively), and not on the basis of an independent review, (iii)&nbsp;not assign a value to any item (A)&nbsp;greater than the greatest value for such item claimed
by either Sellers in the Sellers Statement of Objection, Purchaser in the Post-Closing Purchaser Report or either Sellers or Purchaser in their respective reports or supplemental materials delivered to the Independent Accountant pursuant to
<U>Section&nbsp;2.11(d)</U> or (B)&nbsp;less than the smallest value for such item claimed by either Sellers in the Sellers Statement of Objection, Purchaser in the Post-Closing Purchaser Report or either Sellers or Purchaser in their respective
reports or supplemental materials delivered to the Independent Accountant pursuant to <U>Section&nbsp;2.11(d)</U> and (iv)&nbsp;barring exceptional circumstances, make its written determination within thirty (30)&nbsp;days of its appointment
(<U>provided</U> that the failure of the Independent Accountant to make its written determination in such thirty (30)&nbsp;day period shall not be grounds to defend against or object to the enforcement of such written determination). </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(f) Sellers and Purchaser agree to each enter into a customary engagement letter with the Independent Accountant for purposes of any dispute
pursuant to this <U>Section&nbsp;2.11</U>. Sellers and Purchaser shall reasonably cooperate with the Independent Accountant and shall provide, upon the reasonable request of the Independent Accountant, any non-privileged information and
documentation, including any accountants&#146; work papers or internal accounting records or reserving papers, files and models, and make reasonably available to the Independent Accountant personnel of Sellers and their Affiliates, on the one hand,
and of Purchaser and its Affiliates (including the Company), on the other hand, in each case that have been involved in the preparation of the Post-Closing Purchaser Report or the Sellers Statement of Objection, as applicable; <U>provided</U>,
<U>however</U>, that the independent accountants of each of Sellers and Purchaser shall not be obligated to make any work papers available to the Independent Accountant unless and until the Independent Accountant has signed a customary
confidentiality and hold harmless agreement relating to such access to work papers in form and substance reasonably acceptable to such independent accountants. Any such information and documentation provided by Sellers, on the one hand, or
Purchaser, on the other hand, to the Independent Accountant shall concurrently be provided to the other parties in the dispute to the extent not already so provided; <U>provided</U>, <U>however</U>, that the independent accountants of Sellers and
Purchaser shall not be obligated to make any work papers available to any party unless and until such party has signed a customary confidentiality and hold harmless agreement relating to such access to work papers in form and substance reasonably
acceptable to the applicable independent accountant. Neither Sellers, on the one hand, nor Purchaser, on the other hand, shall disclose to the Independent Accountant, and the Independent Accountant shall not consider for any purpose, any settlement
discussions or settlement offer made by any party to the dispute with respect to any objection under this <U>Section&nbsp;2.11</U> unless otherwise agreed in writing by the other parties to the dispute. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(g) The written determination by the Independent Accountant shall, absent fraud or manifest error, be final and binding upon the parties to
this Agreement, subject to <U>Section&nbsp;2.12</U> and <U>Section&nbsp;2.13</U>, and judgment thereon may be entered or enforced in any court of competent jurisdiction. The written determination shall not be subject to review by a court or other
tribunal, and the Post-Closing Purchaser Report, as adjusted to reflect any adjustments made by the Independent Accountant, shall be deemed the &#147;<U>Final Purchaser Report</U>,&#148; and the components thereof shall be deemed the Final Balance
Sheet and the Final Calculation Report, respectively. The fees, costs and expenses of retaining the Independent Accountant shall be borne by each party to the dispute in proportion to the matters resolved against it, as determined by the
</P>
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Independent Accountant in its written determination. For the avoidance of doubt, the Independent Accountant shall act as an expert, not as an arbitrator, and the determination of the Independent
Accountant and the agreement contained in this <U>Section&nbsp;2.11</U> to submit to the determination of the Independent Accountant shall be governed by and construed in accordance with Article&nbsp;76 of the New York Civil Practice Law and Rules.
As promptly as practicable (and in any event within two (2)&nbsp;Business Days) after determination of the Final Purchaser Report pursuant to this <U>Section&nbsp;2.11</U>, Sellers and Purchaser shall deliver a copy of the Final Purchaser Report to
Reinsurer. Within two (2)&nbsp;Business Days after its receipt of the Final Purchaser Report, Reinsurer shall deliver to Sellers and Purchaser a report setting forth an allocation of the Final Aggregate Ceding Commission between the Ceding
Commission (the &#147;<U>Final Ceding Commission</U>&#148;) and the New York Ceding Commission (the &#147;<U>Final New York Ceding Commission</U>&#148;). </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(h) No later than (5)&nbsp;Business Days after the determination of the Final Purchaser Report pursuant to this <U>Section&nbsp;2.11</U>: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(i) if the Purchase Price determined by reference to the Final Purchaser Report is greater than the Closing Payment, then
Purchaser shall pay (A)&nbsp;to LMIC an amount in cash equal to ninety percent (90%)&nbsp;of such excess <I>plus</I> ninety percent (90%)&nbsp;of the interest on such excess from the Closing Date to the date of payment accrued at the Interest Rate
and (B)&nbsp;to LMFIC an amount in cash equal to ten percent (10%)&nbsp;of such excess <I>plus</I> ten percent (10%)&nbsp;of the interest on such amount from the Closing Date to the date of payment accrued at the Interest Rate; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(ii) if the Purchase Price determined by reference to the Final Balance Sheet is less than the Closing Payment, then
(A)&nbsp;LMIC shall pay to Purchaser ninety percent (90%)&nbsp;of such shortfall <I>plus</I> ninety percent (90%)&nbsp;of the interest on such shortfall from the Closing Date to the date of payment accrued at the Interest Rate and (B)&nbsp;LMFIC
shall pay to Purchaser ten percent (10%)&nbsp;of such shortfall <I>plus</I> ten percent (10%)&nbsp;of the interest on such shortfall from the Closing Date to the date of payment accrued at the Interest Rate; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(iii) if the Final Ceding Commission is greater than the Estimated Ceding Commission, then Reinsurer shall pay to the Company
the amount of such excess <I>plus</I> interest on such excess from the Closing Date to the date of payment accrued at the Interest Rate; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(iv) if the Final Ceding Commission is less than the Estimated Ceding Commission, then Purchaser shall cause the Company to pay
to Reinsurer the amount of such shortfall <I>plus</I> interest on such shortfall from the Closing Date to the date of payment accrued at the Interest Rate; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(v) if the Final New York Ceding Commission is greater than the Estimated New York Ceding Commission, then New York Reinsurer
shall pay to the Company the amount of such excess <I>plus</I> interest on such excess from the Closing Date to the date of payment accrued at the Interest Rate; and </P>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(vi) if the Final New York Ceding Commission is less than the Estimated New York
Ceding Commission, then Purchaser shall cause the Company to pay to New York Reinsurer the amount of such shortfall <I>plus</I> interest on such shortfall from the Closing Date to the date of payment accrued at the Interest Rate. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(i) All cash required to be transferred pursuant to this <U>Section&nbsp;2.11</U> shall be transferred by wire transfer of immediately
available funds to an account or accounts designated in writing by the recipient of the applicable payment, unless otherwise specified herein. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Section&nbsp;2.12 <U>Post-Closing Net Settlement Adjustment</U>. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(a) Purchaser shall prepare and deliver to Reinsurer and Sellers, on or before the date that is ninety (90)&nbsp;days after the Closing Date a
statement (the &#147;<U>Post-Closing Settlement Report</U>&#148;) setting forth (i)&nbsp;a statement of net settlement walk for the Life Business as of the Balance Sheet Date (the &#147;<U>Post-Closing Statement of Net Settlement Walk</U>&#148;)
prepared in accordance with the Statement of Net Settlement Methods and in the same format as the Reference Settlements Walk, and (ii)&nbsp;the Book Value and Fair Market Value of the Transferred Life Assets as of the Balance Sheet Date (the
&#147;<U>Post-Closing Asset Report</U>&#148;). </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(b) Following receipt of the Post-Closing Settlement Report, each of Reinsurer, Sellers and
Purchaser shall have sixty (60)&nbsp;days (the &#147;<U>Settlement Review Period</U>&#148;) to review such Post-Closing Settlement Report. In connection with the review of the Post-Closing Settlement Report, Purchaser shall cause the Company to
provide Reinsurer and its Representatives and Sellers and their Representatives, upon the request of Reinsurer or Sellers, as applicable, reasonable access to the Life Books and Records, with respect to the period up to and including the Closing
Date (including any such applicable Life Books and Records created after the Closing Date to the extent relating to the period up to and including the Closing Date), including any accountants&#146; work papers or internal accounting records or
reserving papers, in each case to the extent relating to the preparation of the Post-Closing Settlement Report (<U>provided</U>, <U>however</U>, that the independent accountants of Purchaser shall not be obligated to make any work papers available
to Reinsurer or Sellers unless and until Reinsurer and Sellers, as applicable, has signed a customary confidentiality and hold harmless agreement relating to such access to work papers in form and substance reasonably acceptable to such independent
accountants), and Purchaser shall make reasonably available to Reinsurer and its Representatives&#146; and Sellers and their Representatives personnel of Purchaser and their Affiliates that were involved in the preparation of the Post-Closing
Settlement Report. If Reinsurer and Sellers, in compliance with the preceding sentence, have accepted the Post-Closing Settlement Report in writing or have not given written notice to Purchaser setting forth any objection to the Post-Closing
Settlement Report (a &#147;<U>Reinsurance Statement of Objection</U>&#148;) prior to the expiration of the Settlement Review Period, and Purchaser has not proposed in writing any changes to the Post-Closing Settlement Report, then the Post-Closing
Settlement Report shall be final and binding upon the parties and shall be deemed the &#147;<U>Final Settlement Report</U>&#148; (including the Final Statement of Net Settlement Walk and the Final Asset Report). Each of Reinsurer and Sellers may
only object to the Post-Closing Statement of Net Settlement Walk or the Post-Closing Asset Report (i)&nbsp;in the case of the former, on the basis of (A)&nbsp;mathematical error or (B)&nbsp;the Post-Closing Statement of Net Settlement Walk not being
calculated in accordance with the Statement of Net Settlement Methods and (ii)&nbsp;in the case of the latter, (A)&nbsp;on the basis of mathematical error or (B)&nbsp;the Post-</P>
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Closing Asset Report not being determined in accordance with the definition of Book Value and the Fair Market Value Methods, respectively. If Reinsurer or Sellers, in compliance with the
preceding sentence, delivers a Reinsurance Statement of Objection prior to the expiration of the Settlement Review Period, or Purchaser proposes any changes to the Post-Closing Settlement Report, then the parties shall attempt to amicably resolve
any such objection within twenty (20)&nbsp;days following the later to occur of Purchaser&#146;s receipt of the Reinsurance Statement of Objection (if any) and Sellers&#146; and Reinsurer&#146;s receipt of Purchaser&#146;s written proposal of
changes (if any) to the Post-Closing Settlement Report. If any such objections or proposed changes raised pursuant to <U>Section&nbsp;2.12(b)</U> are resolved in writing by the parties, then such resolutions shall be final and binding upon the
parties and shall be incorporated into the Final Settlement Report. If any such objections or proposed changes raised pursuant to <U>Section&nbsp;2.12(b)</U> or this <U>Section&nbsp;2.12(b)</U> are not resolved within the twenty (20)&nbsp;day period
specified in this <U>Section&nbsp;2.12(b)</U>, then the parties shall submit any such objections or proposed changes which remain unresolved to the Independent Accountant. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(c) Within ten (10)&nbsp;days of the appointment of the Independent Accountant, (i)&nbsp;Purchaser shall provide the Independent Accountant
with a copy of (A)&nbsp;the Methodologies, (B)&nbsp;the Post-Closing Settlement Report (as modified by any adjustments agreed to in writing by the parties pursuant to <U>Section&nbsp;2.12(b)</U>) and (C)&nbsp;a written proposal of any changes to the
Post-Closing Settlement Report raised by Purchaser during the Settlement Review Period (to the extent not already agreed and reflected in clause <U>(B)</U>&nbsp;of this <U>Section&nbsp;2.12(c)</U>) and (ii)&nbsp;each of the parties shall prepare and
deliver to the Independent Accountant a written report of matters raised pursuant to <U>Section&nbsp;2.12(b)</U> that remain in dispute, which report shall set forth the specific dollar amount proposed by such party for each such disputed matter and
a detailed explanation of the basis and rationale for such party&#146;s positions, and shall concurrently deliver a copy of such materials to the other parties. Each party shall then be given an opportunity to supplement the information and support
included in its initial submission to the Independent Accountant with one additional submission to respond to any arguments or positions taken by the other parties in their respective initial submissions, which supplemental information and support
shall be submitted to the Independent Accountant (with a copy thereof to the other parties) within seven (7)&nbsp;days after the first date on which all parties have submitted their respective initial submissions to the Independent Accountant. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(d) The Independent Accountant shall thereafter finally determine the manner in which such item or items shall be treated in the Final
Settlement Report. In making its determination, the Independent Accountant shall (i)&nbsp;consider only those items that (A)&nbsp;are identified in any Reinsurance Statement of Objection or in in any submission or supplemental submissions delivered
to the Independent Accountant pursuant to <U>Section&nbsp;2.12(c)</U> as in dispute and (B)&nbsp;were not resolved in writing by the parties, (ii)&nbsp;base its determination solely on (I)&nbsp;such materials delivered to the Independent Accountant
in accordance with <U>Section&nbsp;2.12(c)</U> and not on the basis of other materials and (II) the applicable Methodologies (including the methodologies, procedures, judgments, assumptions and estimates described therein), and not on the basis of
any independent methodology, (iii)&nbsp;not assign a value to any item (A)&nbsp;greater than the greatest value for such item claimed by a party in such materials delivered to the Independent Accountant in accordance with <U>Section&nbsp;2.12(c)</U>
or (B)&nbsp;less than the smallest value for such item claimed by a party in such materials delivered to the Independent Accountant in accordance with <U>Section&nbsp;2.12(c)</U> and (iv)&nbsp;barring exceptional circumstances, make its
determination within thirty (30)&nbsp;days of its appointment (<U>provided</U> that the failure of the Independent Accountant to make its written determination in such thirty (30)&nbsp;day period shall not be grounds to defend against or object to
the enforcement of such written determination). </P>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(e) The parties agree to each enter into a customary engagement letter with the Independent
Accountant. The parties shall reasonably cooperate with the Independent Accountant and shall provide, upon the reasonable request of the Independent Accountant, any non-privileged information and documentation, including any accountants&#146; work
papers or internal accounting records or reserving papers, files and models, and make reasonably available to the Independent Accountant personnel of such party that have been substantively involved in the matters in disputes; <U>provided</U>,
<U>however</U>, that the independent accountants of each of the parties shall not be obligated to make any work papers available to the Independent Accountant unless and until the Independent Accountant has signed a customary confidentiality and
hold harmless agreement relating to such access to work papers in form and substance reasonably acceptable to such independent accountants. Any such information and documentation provided by a party to the Independent Accountant shall concurrently
be provided to the other parties in the dispute to the extent not already so provided; <U>provided</U>, <U>however</U>, that the independent accountants of parties shall not be obligated to make any work papers available to any party unless and
until such party has signed a customary confidentiality and hold harmless agreement relating to such access to work papers in form and substance reasonably acceptable to the applicable independent accountant. No party shall disclose to the
Independent Accountant, and the Independent Accountant shall not consider for any purpose, any settlement discussions or settlement offer made by any party to the dispute with respect to any objection under this <U>Section&nbsp;2.12</U> unless
otherwise agreed in writing by the other parties to the dispute. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(f) The written determination by the Independent Accountant shall, absent
fraud or manifest error, and subject to <U>Section&nbsp;2.13</U>, be final and binding upon the parties to this Agreement and judgment thereon may be entered or enforced in any court of competent jurisdiction. The written determination shall not be
subject to review by a court or other tribunal, and the Post-Closing Settlement Report, as adjusted to reflect any adjustments made by the Independent Accountant, shall be deemed the &#147;<U>Final Settlement Report</U>&#148;. The fees, costs and
expenses of retaining the Independent Accountant shall be borne by each party to the dispute in proportion to the matters resolved against it, as determined by the Independent Accountant in its written determination. For the avoidance of doubt, the
Independent Accountant shall act as an expert, not as an arbitrator, and the determination of the Independent Accountant and the agreement contained in this <U>Section&nbsp;2.12</U> to submit to the determination of the Independent Accountant shall
be governed by and construed in accordance with Article&nbsp;76 of the New York Civil Practice Law and Rules. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(g) No later than five
(5)&nbsp;Business Days after the determination of the Final Settlement Report pursuant to this <U>Section&nbsp;2.12</U>, if: (i)&nbsp;the Closing Reconciliation Amount determined by reference to the Final Settlement Report (the &#147;<U>Final
Reconciliation Amount</U>&#148;) <I>minus</I> the Closing Reconciliation Amount is a negative amount, then Purchaser shall cause the Company to transfer cash to Reinsurer in an amount equal to the absolute value of such difference <I>plus</I>
interest on such amount from the Closing Date to the date of payment accrued at the Interest Rate, or (ii)&nbsp;if the Final Reconciliation Amount less Closing Reconciliation Amount is a positive amount, then the Reinsurer shall pay to the Company
cash in an amount equal to such excess <I>plus</I> interest on such amount from the Closing Date to the date of payment accrued at the Interest Rate. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">52 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(h) All cash required to be transferred pursuant to this <U>Section&nbsp;2.12</U> shall be
transferred by wire transfer of immediately available funds to an account or accounts designated by the recipient of the applicable payment. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Section&nbsp;2.13 <U>Inconsistencies</U>. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(a) Each party acknowledges and agrees that the intent of this <U>Article&nbsp;II</U> is for the Final Settlement Report and the Final
Purchaser Report to be finally determined in a consistent manner, resolving or otherwise eliminating the impact of any inconsistency between the Final Settlement Report and the Final Purchaser Report. In furtherance of the foregoing if, within
thirty (30)&nbsp;days following the determination of the Final Purchaser Report, any party identifies any such inconsistency between the Final Settlement Report and the Final Purchaser Report, the parties shall cooperate in good faith to seek to
rectify such inconsistency and to restore each party as closely as reasonably possible to the positions that it would have occupied had no inconsistency existed between the Final Settlement Report and the Final Purchaser Report. If the parties are
unable to agree on the resolution of any such inconsistency, such dispute (solely to the extent relating to such inconsistency) shall be referred to the Independent Accountant (and the provisions of <U>Sections 2.12(c)</U> and the last two sentences
of <U>Section&nbsp;2.12(d)</U> shall apply <I>mutatis mutandis</I>). </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(b) Within ten (10)&nbsp;days of the appointment of the Independent
Accountant, (i)&nbsp;the parties shall provide the Independent Accountant with a copy of (A)&nbsp;the Methodologies, (B)&nbsp;the Final Settlement Report and (C)&nbsp;the Final Purchaser Report and (ii)&nbsp;each of the parties shall prepare and
deliver to the Independent Accountant a written report of the inconsistencies raised pursuant to <U>Section&nbsp;2.13(a)</U> that remain in dispute, which report shall set forth the specific dollar amount proposed by such party for each such
disputed matter and a detailed explanation of the basis and rationale for such party&#146;s positions, and shall concurrently deliver a copy of such materials to the other parties. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(c) The Independent Accountant shall thereafter finally determine the manner in which such inconsistency shall be treated across the Final
Settlement Report and the Final Purchaser Report. In making its determination, the Independent Accountant shall (i)&nbsp;consider only those items that (A)&nbsp;are identified in the submissions delivered to the Independent Accountant pursuant to
<U>Section&nbsp;2.13(b)</U>, (ii)&nbsp;base its determination solely on (A)&nbsp;such materials delivered to it in accordance with <U>Section&nbsp;2.13(b)</U> and not on the basis of other materials and (B)&nbsp;the applicable Methodologies
(including the methodologies, procedures, judgments, assumptions and estimates described therein), and not on the basis of any independent methodology, (iii)&nbsp;not assign a value to any item (A)&nbsp;greater than the greatest value for such item
claimed by a party in such materials delivered to the Independent Accountant in accordance with <U>Section&nbsp;2.13(b)</U> or (B)&nbsp;less than the smallest value for such item claimed by a party in such materials delivered to the Independent
Accountant in accordance with <U>Section&nbsp;2.13(b)</U> and (iv)&nbsp;barring exceptional circumstances, make its determination within thirty (30)&nbsp;days of its appointment (provided that the failure of the Independent Accountant to make its
written determination in such thirty (30)&nbsp;day period shall not be grounds to defend against or object to the enforcement of such written determination). </P>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(d) The written determination by the Independent Accountant shall, absent fraud or manifest
error, be final and binding upon the parties to this Agreement and judgment thereon may be entered or enforced in any court of competent jurisdiction. The written determination shall not be subject to review by a court or other tribunal, and the
Final Settlement Report and the Final Purchaser Report, as adjusted to reflect any adjustments made by the Independent Accountant, shall be deemed the new &#147;<U>Final Settlement Report</U>&#148; and &#147;<U>Final Purchaser Report</U>.&#148; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(e) The parties shall settle any amounts so as to give effect to the determination of the Independent Accountant pursuant to this
<U>Section&nbsp;2.13</U> within five (5)&nbsp;Business Days of the date of delivery of the Independent Accountant&#146;s determination. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(f) All cash required to be transferred pursuant to this <U>Section&nbsp;2.13</U> shall be transferred by wire transfer of immediately
available funds to an account or accounts designated by the recipient of the applicable payment. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Section&nbsp;2.14
<U>Section&nbsp;338(h)(10) Purchase Price Adjustment</U>. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(a) <U>Schedule 2.14(a)</U> hereto sets forth a hypothetical calculation of the
Tax benefits and detriments to the parties of the Section&nbsp;338(h)(10) Elections, assuming that the Closing occurred on December&nbsp;31, 2016. Within thirty (30)&nbsp;days following the date hereof, Sellers and Purchaser shall negotiate in good
faith and use commercially reasonable efforts to determine the appropriate methodology for calculating the amounts set forth in items 4 (the &#147;<U>FMV Basis</U>&#148;) and 18 and 22 (&#147;<U>Sellers&#146; Detriment</U>&#148;) of <U>Schedule
2.14(a)</U> (together, the FMV Basis and Sellers&#146; Detriment, the &#147;<U>Disputed Items</U>&#148;). If Sellers and Purchaser are unable to reach an agreement regarding the appropriate methodology for calculating either or both of the Disputed
Items within such thirty (30)&nbsp;day period, then Sellers and Purchaser shall submit any such remaining Disputed Item(s) (the &#147;<U>Remaining Disputed Items</U>&#148;) for resolution to the Independent Accountant, who shall, as promptly as
reasonably practicable (and, in any case, no later than ten (10)&nbsp;Business Days prior to the Closing Date), prepare and deliver to Sellers and Purchaser an updated draft of <U>Schedule 2.14(a)</U>, which updated draft (the &#147;<U>Independent
Section&nbsp;338(h)(10) Calculation</U>&#148;) shall (i)&nbsp;incorporate, without modifying in any respect, (A)&nbsp;the values set forth in <U>Schedule 2.14(a)</U> other than the Disputed Items (the &#147;<U>Agreed Items</U>&#148;) and
(B)&nbsp;any Disputed Items with respect to which the parties were able to determine and agree on the appropriate methodology for calculating such Disputed Items pursuant to the immediately preceding sentence (in each case, other than with respect
to &#147;sum,&#148; &#147;net,&#148; &#147;total&#148; or other similar amounts the calculation of which is dependent on the determination of the Remaining Disputed Items, which amounts shall be modified to reflect the resolution of the Remaining
Disputed Items pursuant to this <U>Section&nbsp;2.14</U>), and (ii)&nbsp;reflect the Independent Accountant&#146;s determination of the appropriate methodology for calculating the Remaining Disputed Items; provided, however, that with respect to
Sellers&#146; Detriment, the Independent Accountant must choose either the methodology that reflects Purchaser&#146;s position or the methodology that reflects Sellers&#146; position, in each case, as set forth on <U>Schedule 2.14(a)</U>. In
determining the appropriate methodology for calculating such Remaining Disputed Items for purposes of the Independent Section&nbsp;338(h)(10) Calculation, the Independent Accountant (i)&nbsp;shall consult with Sellers and Purchaser (and their
</P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">54 </P>


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respective representatives) regarding each party&#146;s positions with respect to the Disputed Items and (ii)&nbsp;may consult a nationally-recognized law firm that is not the counsel of any of
the parties, and is otherwise independent and impartial, regarding legal issues relevant to such determination with respect to which the Independent Accountant is unable or unwilling to provide advice (the &#147;<U>Section 338(h)(10) Law
Firm</U>&#148;). As promptly as reasonably practicable upon resolution by the parties of the Disputed Items within the thirty (30)&nbsp;day period following the date hereof, or upon the receipt of the Independent Section&nbsp;338(h)(10) Calculation,
as applicable, Sellers shall update such calculation, using the same methodologies used in such resolution or the Independent Section&nbsp;338(h)(10) Calculation, as applicable, based on an assumption that the Closing will occur on the Closing Date
then reasonably anticipated by the parties, rather than an assumed Closing Date of December&nbsp;31, 2016 (&#147;<U>Sellers&#146; Section&nbsp;338(h)(10) Calculation</U>&#148;). To the extent that the Tax benefits to the parties of the
Section&nbsp;338(h)(10) Elections, as set forth in Sellers&#146; Section&nbsp;338(h)(10) Calculation (the &#147;<U>Estimated Section&nbsp;338(h)(10) Elections Benefit</U>&#148;) exceed the sum of (A)&nbsp;the Tax detriments to the parties of the
Section&nbsp;338(h)(10) Elections, as set forth in Sellers&#146; Section&nbsp;338(h)(10) Calculation, the &#147;<U>Estimated Section&nbsp;338(h)(10) Elections Cost</U>&#148;) plus (B)&nbsp;Purchaser&#146;s Section&nbsp;338(h)(10) Elections Amount,
any such excess shall be hereinafter referred to as the &#147;<U>Estimated Section&nbsp;338(h)(10) Elections Excess</U>.&#148; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(b) No
later than five (5)&nbsp;Business Days after the resolution of all disputes (if any), raised pursuant to Section&nbsp;2.13, Purchaser shall update Sellers&#146; Section&nbsp;338(h)(10) Calculation to take into account the adjusted Purchase Price as
finally determined pursuant to the foregoing Sections of this <U>Article&nbsp;II</U>, which calculation (&#147;<U>Purchaser&#146;s Section&nbsp;338(h)(10) Calculation</U>&#148;) shall use the same methodologies used to determine the Sellers&#146;
Section&nbsp;338(h)(10) Calculation; provided, however, that the value of (but not the method of calculating) the items set forth on Sellers&#146; Section&nbsp;338(h)(10) Calculation (other than, for the avoidance of doubt, Purchaser&#146;s
Section&nbsp;338(h)(10) Elections Amount) may be updated from that shown on Sellers&#146; Section&nbsp;338(h)(10) Calculation (i)&nbsp;in order to take into account the adjusted Purchase Price as finally determined pursuant to the foregoing Sections
of this <U>Article&nbsp;II</U> or (ii)&nbsp;to reflect any reasonable disagreement with any amount on the Sellers&#146; Section&nbsp;338(h)(10) Calculation. If Sellers reasonably disagree with any amount on the Purchaser&#146;s
Section&nbsp;338(h)(10) Calculation (other than, for the avoidance of doubt, Purchaser&#146;s Section&nbsp;338(h)(10) Elections Amount), Sellers shall notify Purchaser in writing of such disagreement as promptly as reasonably practicable after
Sellers&#146; receipt of Purchaser&#146;s Section&nbsp;338(h)(10) Calculation) (and, in any event, within thirty (30)&nbsp;days after receipt of the Purchaser&#146;s Section&nbsp;338(h)(10) Calculation). If a notice of objection shall be so
delivered, Sellers and Purchaser shall negotiate in good faith and use their commercially reasonable efforts to resolve the disputed amounts. If Sellers and Purchaser are unable to resolve any disputed amounts within ten (10)&nbsp;days after receipt
by Purchaser of such timely notice of objection, then Sellers and Purchaser shall submit such disputed amounts for resolution to the Independent Accountant, whose determination shall be final, binding and conclusive on Sellers and Purchaser for
purposes of this <U>Section&nbsp;2.14</U> and, to the extent relevant, <U>Section&nbsp;10.14</U>. The Independent Accountant&#146;s resolution of any such dispute shall (i)&nbsp;incorporate the same methodologies used, with respect to the Agreed
Items, in <U>Schedule 2.14(a)</U> and, with respect to the Disputed Items, in the resolution by the parties of the Disputed Items within the thirty (30)&nbsp;day period following the date hereof or in the Independent Section&nbsp;338(h)(10)
Calculation, as applicable, with the values updated only to take into account the adjusted Purchase Price as finally determined pursuant to the foregoing Sections of this Article II, and (ii)&nbsp;in no event be delivered to Sellers and Purchaser
more than thirty (30)&nbsp;days after the referral of </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">55 </P>


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such dispute to the Independent Accountant. The costs, fees and expenses of the Independent Accountant shall be borne equally by Purchaser and Sellers. The &#147;<U>Final Section&nbsp;338(h)(10)
Calculation</U>&#148; shall be (i)&nbsp;the Purchaser&#146;s Section&nbsp;338(h)(10) Calculation if the Sellers do not notify Purchaser of any disagreement with any item thereon, (ii)&nbsp;if such a notice of objection is delivered by Sellers, the
Purchaser&#146;s Section&nbsp;338(h)(10) Calculation as updated to reflect the agreed resolution among the parties of such dispute, or (iii)&nbsp;if the parties do not so agree, the Independent Accountant&#146;s resolution of such dispute as
described above. To the extent that the Final Section&nbsp;338(h)(10) Elections Benefit exceeds the sum of (A)&nbsp;the Final Section&nbsp;338(h)(10) Elections Cost plus (B)&nbsp;Purchaser&#146;s Section&nbsp;338(h)(10) Elections Amount, any such
excess shall be hereinafter referred to as the &#147;<U>Final Section&nbsp;338(h)(10) Elections Excess</U>.&#148; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(c) No later than two
(2)&nbsp;Business Days after the delivery of the calculation described in <U>Section&nbsp;2.14(b)</U>: </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(i) if the
Estimated Section&nbsp;338(h)(10) Elections Adjustment Amount is less than the Final Section&nbsp;338(h)(10) Elections Adjustment Amount, then Purchaser shall pay (A)&nbsp;to LMIC an amount in cash equal to ninety percent (90%)&nbsp;of such
shortfall plus ninety percent (90%)&nbsp;of the interest on such shortfall from the Closing Date to the date of payment accrued at the Interest Rate and (B)&nbsp;to LMFIC an amount in cash equal to ten percent (10%)&nbsp;of such shortfall plus ten
percent (10%)&nbsp;of the interest on such shortfall from the Closing Date to the date of payment accrued at the Interest Rate; and </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(ii) if the Estimated Section&nbsp;338(h)(10) Elections Adjustment Amount is greater than the Final Section&nbsp;338(h)(10)
Elections Adjustment Amount, then (A)&nbsp;LMIC shall pay to Purchaser ninety percent (90%)&nbsp;of such excess plus ninety percent (90%)&nbsp;of the interest on such excess from the Closing Date to the date of payment accrued at the Interest Rate
and (B)&nbsp;LMFIC shall pay to Purchaser ten percent (10%)&nbsp;of such excess plus ten percent (10%)&nbsp;of the interest on such excess from the Closing Date to the date of payment accrued at the Interest Rate. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(d) The parties acknowledge and agree that the determinations of the Independent Accountant pursuant to this <U>Section&nbsp;2.14</U> shall,
absent fraud or manifest error, be final and binding on the parties for purposes of this <U>Section&nbsp;2.14</U> and, to the extent relevant, <U>Section&nbsp;10.14</U>. No party may initiate a dispute with respect to the matters contemplated by
this <U>Section&nbsp;2.14</U> pursuant to any other provision of this Agreement, including any other Section of this <U>Article&nbsp;II</U>. Notwithstanding anything to the contrary herein (i)&nbsp;the failure of the Independent Accountant to
deliver the Independent Section&nbsp;338(h)(10) Calculation within the time period provided in <U>Section&nbsp;2.14(a)</U> shall not be grounds to defend against or object to the enforcement of such calculation and (ii)&nbsp;the determination of the
Section&nbsp;338(h)(10) Elections Benefit and the Section&nbsp;338(h)(10) Elections Cost shall be made by reference to (A)&nbsp;the Agreed Items as set forth on <U>Schedule 2.14(a)</U> and (B)&nbsp;the Disputed Items as resolved by the parties
within thirty (30)&nbsp;days after the date hereof or by the Independent Accountant and set forth in the Independent Section&nbsp;338(h)(10) Calculation, in each case adjusted pursuant to <U>Section&nbsp;2.14(b)</U>, as applicable, and in no event
shall any Agreed Item (including any such amount as adjusted pursuant to<U> Section&nbsp;2.14(b)</U>, as applicable) be subject to any dispute among the parties or any modification by the Independent Accountant in preparing the Independent
Section&nbsp;338(h)(10) Calculation (absent manifest error). The fees of the Independent Accountant and the Section&nbsp;338(h)(10) Law Firm (as applicable) with respect to the calculations described in this <U>Section&nbsp;2.14</U> shall be borne
equally by Sellers, on the one hand, and Purchaser, on the other hand. </P>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Section&nbsp;2.15 <U>Withholding</U>. Notwithstanding any provision herein to the contrary, each
of the Transferred Companies, Purchaser and Reinsurer shall be entitled to deduct and withhold from payments made pursuant to this Agreement and any Ancillary Agreement any amount required to be deducted and withheld under applicable Law;
<U>provided</U>, <U>however</U>, that if any Transferred Company, Purchaser or Reinsurer intends to withhold any amount from any payment made pursuant to this Agreement, the relevant Transferred Company, Purchaser or Reinsurer, as applicable, shall
provide any Person with respect to which such withholding is intended with written notice as soon as reasonably practicable, but in no event less than ten (10)&nbsp;days prior to making any payment pursuant to this Agreement to such Person with
respect to which the relevant Transferred Company, Purchaser or Reinsurer, as applicable, believes withholding is required pursuant to this <U>Section&nbsp;2.15</U>, and shall afford such Person the opportunity to provide such Tax forms or other
documentation that would eliminate or reduce the amount to be so withheld. To the extent that amounts are so deducted and withheld and timely paid over to the appropriate Governmental Authority, such amounts shall be treated for all purposes of this
Agreement as having been paid to the Person in respect of which such deduction or withholding was made. The parties shall provide to each other any statements, forms or other documents reasonably requested by another party with respect to the
withholding of Taxes (including an IRS Form W-9 or other applicable form). </P> <P STYLE="margin-top:24pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>ARTICLE&nbsp;III </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>SELLERS&#146; REPRESENTATIONS AND WARRANTIES TO PURCHASER AND REINSURER </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Except as set forth in the corresponding section or subsections of the disclosure schedules delivered by Sellers to Purchaser and Reinsurer
(the &#147;<U>Sellers Disclosure Schedule</U>&#148;) simultaneously with the execution of this Agreement (it being understood that any matter disclosed in such disclosure schedules shall be deemed disclosed with respect to any section of this
<U>Article&nbsp;III</U> to which the relevance of such matter is reasonably apparent on its face), Sellers (each, as to itself and as to the Transferred Companies and the Transferred Businesses) hereby represent and warrant to Purchaser and
Reinsurer, as of the date hereof and as of the Closing Date, as follows: </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Section&nbsp;3.01 <U>Incorporation and Authority of Sellers,
Affiliates of Sellers and the Transferred Companies</U>. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(a) Each Seller is a corporation duly incorporated, validly existing and in good
standing under the Laws of its jurisdiction of incorporation. Each Affiliate of Sellers that is party to any Transaction Agreement is a corporation or other legal entity duly incorporated or organized, validly existing and in good standing under the
Laws of the jurisdiction in which it is incorporated or organized. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">57 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(b) Each of the Transferred Companies (i)&nbsp;is a corporation or other organization duly
incorporated or organized, validly existing and in good standing under the Laws of its jurisdiction of incorporation or organization, (ii)&nbsp;is duly qualified as a foreign corporation or other organization to do business and is in good standing
in each jurisdiction where the character of its owned, operated or leased properties or the nature of its activities makes such qualification necessary and (iii)&nbsp;has the requisite corporate or other entity power and authority to own, lease or
otherwise hold its assets and to operate its business as now conducted, except in the case of clause&nbsp;(ii), where the failures to be in good standing or qualified, would not, individually or in the aggregate, reasonably be expected to have a
Material Adverse Effect. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(c) Each Seller and each Affiliate of Sellers that is party to any Transaction Agreement (including any
applicable Transferred Company) has all requisite corporate or other entity power and authority to enter into, consummate the transactions contemplated by and carry out its obligations under each of the Transaction Agreements to which it is or will
be a party. The execution and delivery by Sellers and each Affiliate of Sellers that is party to any Transaction Agreement (including any applicable Transferred Company) of each Transaction Agreement to which it is or will be a party, and the
consummation by Sellers and each Affiliate of Sellers that is party to any Transaction Agreement (including any applicable Transferred Company) of the transactions contemplated by, and the performance by Sellers and each Affiliate of Sellers that is
party to any Transaction Agreement (including any applicable Transferred Company) of their respective obligations under such Transaction Agreements, have been duly and validly authorized by all requisite corporate action on the part of Sellers and
each Affiliate of Sellers that is party to any Transaction Agreement (including any applicable Transferred Company) and no additional corporate proceedings on the part of Sellers or any such Affiliate of Sellers are necessary to approve or
authorize, as applicable, this Agreement or any Ancillary Agreement, the performance of Sellers&#146; or such Affiliates&#146; obligations hereunder or thereunder or the consummation of the transactions contemplated hereby or thereby. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(d) This Agreement has been duly authorized, executed and delivered by Sellers, and upon due authorization, execution and delivery of this
Agreement by the other parties hereto, will be the legal, valid and binding obligation of Sellers, enforceable against each Seller in accordance with its terms, subject to the effect of any applicable bankruptcy, reorganization, insolvency,
moratorium, rehabilitation, liquidation, fraudulent conveyance or similar Laws relating to or affecting creditors&#146; rights generally and subject, as to enforceability, to the effect of general equitable principles (regardless of whether such
enforceability is considered in a proceeding in equity or at law) (the &#147;<U>Enforceability Exceptions</U>&#148;). </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(e) At the Closing,
each Ancillary Agreement shall, as applicable, be duly authorized, executed and delivered by Sellers or an Affiliate of Sellers party thereto (including any applicable Transferred Company), and upon due authorization, execution and delivery of each
such Ancillary Agreement by the other parties thereto, will be the legal, valid and binding obligation of Sellers or such Affiliates of Sellers party thereto (including any applicable Transferred Company), enforceable against each Seller and each
such Affiliate of Sellers (including any applicable Transferred Company) in accordance with its terms, subject to the Enforceability Exceptions. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">58 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Section&nbsp;3.02 <U>Non-Contravention</U>. Assuming the consents, approvals, waivers,
authorizations, notices and filings referred to in <U>Section&nbsp;3.03</U>, <U>Section&nbsp;6.03</U> and <U>Section&nbsp;7.03</U> are obtained or made, as applicable, and except as set forth in Section&nbsp;3.02 of the Sellers Disclosure Schedule,
the execution, delivery and performance of this Agreement and the Ancillary Agreements by Sellers or any Affiliate of Sellers party to any Transaction Agreement (including any applicable Transferred Company), and the consummation by Sellers and by
the Affiliates of Sellers party to any Transaction Agreements (including any applicable Transferred Company), of the transactions contemplated by the Transaction Agreements to which Sellers and such Affiliates of Sellers (including any applicable
Transferred Company) are or will be a party do not and will not (a)&nbsp;violate or conflict with the organizational documents of Sellers, any Affiliates of Sellers party to any Transaction Agreement or any of the Transferred Companies,
(b)&nbsp;violate or conflict with any Law or Order applicable to a Seller, any Affiliate of Sellers party to any Transaction Agreement or any of the Transferred Companies or by which any of them or any of their respective properties or assets are
bound or subject or (c)&nbsp;result in any breach of, or constitute a violation or default (or event which, with the giving of notice or lapse of time, or both, would become a default) under, give to any Person any rights of termination,
acceleration of remedies, penalty, increase in benefit payable, forfeiture of, or cancellation of, or result in the creation of any Encumbrance (other than a Permitted Encumbrance) on, any of the assets or properties of Sellers, any Affiliate of
Sellers or any of the Transferred Companies, pursuant to any Permit, Material Contract, Reinsurance Contract, Assigned Group Benefits Contract, or Assigned Life Contract, other than, in the case of clauses&nbsp;(b) and (c), any such conflicts,
violations, breaches, defaults, rights or Encumbrances that would not, individually or in the aggregate, be material to the Transferred Companies, taken as a whole. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Section&nbsp;3.03 <U>Sellers&#146; Consents and Approvals</U>. Except as set forth in Section&nbsp;3.03 of the Sellers Disclosure Schedule, no
consent, approval, waiver or authorization of, or notice or filing with, any Governmental Authority, is required to be obtained or made by Sellers or any of their Affiliates (including the Transferred Companies) in connection with the execution,
delivery and performance of this Agreement and the Ancillary Agreements or the consummation of the transactions contemplated hereby and thereby, except for such consents, approvals, waivers or authorizations of, or notices or filings with
Governmental Authorities (other than those responsible for regulating insurance or reinsurance companies), the failure to obtain or make any or all of which would not, individually or in the aggregate, be material to the Transferred Companies, taken
as a whole. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Section&nbsp;3.04 <U>Life Separate Accounts</U>. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(a) Each Life Separate Account is (i)&nbsp;duly and validly established and maintained in compliance in all material respects with applicable
Law and (ii)&nbsp;is operating and, at all times since June&nbsp;30, 2015, has been operated in compliance in all material respects with applicable Law and with its plan of operations, and the portion of the assets of each Life Separate Account
equal to the reserves and other Contract Liabilities of such Life Separate Account is not chargeable with Liabilities arising out of any other business the Company may conduct or may have conducted. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(b) Each Life Separate Account is either duly registered as an investment company under the Investment Company Act of 1940, as amended,
together with the rules and regulations thereunder (the &#147;<U>Investment Company Act</U>&#148;), and such registration is in full force and effect, or is not an &#147;investment company&#148; within the meaning of Section&nbsp;3(a) of the
Investment Company Act. Each Life Separate Account that is registered under the Investment Company Act is, and </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">59 </P>


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since June&nbsp;30, 2015 (i)&nbsp;has been operated in compliance with the Investment Company Act, (ii)&nbsp;has filed all reports and amendments of its registration statement required to be
filed by the Investment Company Act (as such requirements have been modified or interpreted by applicable publicly available SEC or SEC staff guidance or positions), (iii)&nbsp;has been granted all exemptive relief necessary to conduct its
operations as currently conducted, and (iv)&nbsp;is in compliance with all conditions to any such relief, except, in each case, with respect to the preceding clauses (i)-(iv)&nbsp;as would not, individually or in the aggregate, be material to the
Life Business, taken as a whole. Interests in each Life Separate Account or the Policies under which Life Separate Account assets are held are duly and validly issued and were either exempt from registration under the Securities Act or were sold
pursuant to an effective registration statement under the Securities Act. Since June&nbsp;30, 2015, the relevant registration statements, at the time that each became effective, contained no untrue statement of a material fact, and did not omit to
state any material fact required to be stated therein or necessary in order to make the statements therein not misleading. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(c) Since
June&nbsp;30, 2015, neither Sellers, the Company nor any of their Affiliates have received written notice of any examinations, investigations, inspections, formal or informal inquiries (including periodic and routine regulatory examinations of the
Life Separate Accounts&#146; affairs and condition), civil investigative demands and market conduct examinations, by any Governmental Authority that would reasonably be expected to be material to the Transferred Companies, taken as a whole. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(d) Since June&nbsp;30, 2015, neither Sellers, the Company nor any of their Affiliates have received (i)&nbsp;any written notice from any
Governmental Authority regarding any actual or alleged violation of, or failure on the part of Sellers or the Company to comply with, applicable Law in connection with the Life Separate Accounts or (ii)&nbsp;written notice that Sellers or any of
their Affiliates (including the Company) has been placed under investigation with respect to any violation of any applicable Law in connection with the Life Separate Accounts, except, in each case, any such item that has been cured or otherwise
resolved to the satisfaction of such Governmental Authority or that is no longer being pursued by such Governmental Authority following a response by Sellers or such Affiliate and except as would not reasonably be expected to be material to the
Transferred Companies, taken as a whole. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(e) Section&nbsp;3.04(e) of the Sellers Disclosure Schedule sets forth a true, complete and
correct list of all Life Separate Accounts. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(f) Since June&nbsp;30, 2015, no new Variable Reinsured Contracts have been sold. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Section&nbsp;3.05 <U>Brokers or Finders</U>. Other than Barclays Capital Inc., the fees of which will be paid by Sellers, no broker or finder
has acted directly or indirectly for Sellers or their Affiliates (including the Transferred Companies), nor have Sellers or their Affiliates (including the Transferred Companies) incurred any obligation to pay any brokerage or finder&#146;s fee or
other commission, in connection with the transactions contemplated by this Agreement and the Ancillary Agreements. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">60 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Section&nbsp;3.06 <U>No Other Agreements</U>. Other than the Ancillary Agreements, clauses
(a)&nbsp;and (b)&nbsp;of the definition of Confidentiality Agreements and as set forth on Section&nbsp;3.06 of the Sellers Disclosure Schedule, as of the date hereof, there are no written Contracts entered into (or contemplated to be entered into)
by and between Sellers or their Affiliates, on the one hand, and Purchaser or its Affiliates or Reinsurer or its Affiliates (disregarding the proviso in the definition of &#147;Affiliate&#148; for purposes of this <U>Section&nbsp;3.06</U>), on the
other hand, relating to this Agreement, the other Transaction Agreements or any transactions contemplated hereby or thereby. </P>
<P STYLE="margin-top:24pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>ARTICLE&nbsp;IV </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>SELLERS&#146; REPRESENTATIONS AND WARRANTIES TO PURCHASER </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Except as set forth in the corresponding section or subsections of the Sellers Disclosure Schedule (it being understood that any matter
disclosed in such disclosure schedules shall be deemed disclosed with respect to any section of this <U>Article&nbsp;IV</U> to which the relevance of such matter is reasonably apparent on its face) (each, as to itself and as to the Transferred
Companies and the Transferred Businesses), Sellers hereby represent and warrant to Purchaser, as of the date hereof and as of the Closing Date, as follows: </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Section&nbsp;4.01 <U>Capital Structure of the Transferred Companies; Ownership and Transfer of the Company Shares</U>. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(a) Section&nbsp;4.01(a) of the Sellers Disclosure Schedule sets forth (i)&nbsp;the authorized Capital Stock of each of the Transferred
Companies (ii)&nbsp;the jurisdiction of incorporation or organization of each of the Transferred Companies and (iii)&nbsp;the number of shares of each class or series of Capital Stock of each of the Transferred Companies that are issued and
outstanding, together with the registered holder thereof. Except as set forth in Section&nbsp;4.01(a) of the Sellers Disclosure Schedule, there are no shares of Capital Stock of the Transferred Companies issued and outstanding. All the outstanding
shares of Capital Stock of the Transferred Companies have been duly authorized and validly issued, are fully paid and nonassessable and were not issued in violation of any preemptive or subscription rights or any applicable Laws or the Transferred
Companies&#146; respective organizational documents. There are no options, calls, warrants or convertible or exchangeable securities, or conversion, preemptive, subscription or other rights, or agreements, arrangements or commitments, in any such
case, relating to the authorized and issued or unissued shares of Capital Stock of the Transferred Companies, and there are no shares of Capital Stock of the Transferred Companies reserved for issuance for any purpose. There are no capital
appreciation rights, phantom stock plans, securities with participation rights or features, or similar obligations and commitments of the Transferred Companies. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(b) Sellers own, beneficially and of record, all of the outstanding Capital Stock of the Company, free and clear of all Encumbrances, other
than any Encumbrances arising from acts of Purchaser. The Company Shares to be acquired by Purchaser pursuant to <U>Section&nbsp;2.02</U> are the only shares of Capital Stock of, or other equity or voting interest in, the Company issued and
outstanding. The Company owns all of the outstanding Capital Stock of the Company Subsidiary, free and clear of all Encumbrances, other than any Encumbrances arising from acts of Purchaser. Except the Excluded Subsidiaries, the Transferred Companies
have no Subsidiaries, and except for Investment Assets, neither Transferred Company owns, directly or indirectly, any capital stock or other equity or voting interest of any Person, has any direct or indirect equity or ownership interest in any
business or is a member of or participant in any partnership, joint venture or other entity (other than, in the case of the Company, the Company Subsidiary), except for passive, non-controlling investments held in the Company&#146;s general account
that do not exceed twenty percent (20%)&nbsp;of the capital stock or other equity or voting interest in any such entity. </P>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(c) Except for this Agreement, there are no voting trusts, stockholder agreements, proxies or
other rights or agreements in effect with respect to the voting, transfer or dividend rights of the Capital Stock of the Transferred Companies. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Section&nbsp;4.02 <U>Acquired Group Benefits Assets</U>. Sellers or one or more of their Affiliates (other than the Transferred Companies) are
the record and beneficial owner of, and hold, good and valid title to, or have valid and binding leases, licenses or rights to use the Acquired Group Benefits Assets, in each case, free and clear of any Encumbrances, except for Permitted
Encumbrances and Encumbrances arising from acts of Purchaser. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Section&nbsp;4.03 <U>Compliance with Law; Permits</U>. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(a) Each Transferred Company is, and Sellers and their respective Affiliates with respect to the Transferred Businesses are, and the operation
of the Transferred Businesses is, and at all times since June&nbsp;30, 2015 each of the foregoing has been, in compliance with all applicable Laws in all material respects. Since June&nbsp;30, 2015, none of Sellers or their respective Affiliates
(including the Transferred Companies) has received any written notice of any actual or alleged material violation of, or failure to comply in any material respect with, applicable Law with respect to the Transferred Companies or the operation of the
Transferred Businesses. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(b) Since June&nbsp;30, 2015, each of the Transferred Companies (i)&nbsp;has held and maintained in full force and
effect all material Permits necessary (A)&nbsp;for the operation and conduct of the Transferred Businesses and (B)&nbsp;to own or use its assets and properties as the same are or have been owned and used, in each case, in each of the jurisdictions
in which such business has been operated and conducted, (ii)&nbsp;has been in compliance in all material respects with all material Permits necessary for the operation and conduct of their businesses and the Transferred Businesses, (iii)&nbsp;has
not received any written notice from any Governmental Authority regarding any actual, alleged or potential material violation of, or material failure to comply with, the terms or requirements of any such material Permit and (iv)&nbsp;is not subject
to any action (pending or, to the Knowledge of Sellers, threatened) seeking the revocation, withdrawal, suspension, termination, cancellation, nonrenewal, modification or impairment of any such material Permit. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Section&nbsp;4.04 <U>Company Financial Statements</U>. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(a) Sellers have timely filed with the applicable Governmental Authorities, and Made Available to Purchaser true, complete and correct copies
of (i)&nbsp;the unaudited quarterly statutory financial statements of the Company for the first three (3)&nbsp;fiscal quarters of 2017 and the related statements of operations for the fiscal quarters then ended and (ii)&nbsp;the audited annual
statutory financial statements of the Company as of December&nbsp;31, 2016 and December&nbsp;31, 2015 together with the report of the Company&#146;s independent auditors thereon and the related statements of operations, changes in capital and
surplus and cash flows for the fiscal years then ended (collectively, the &#147;<U>Company Financial Statements</U>&#148;). The Company Financial Statements </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">62 </P>


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(A)&nbsp;were derived from the Books and Records and are materially consistent with the Books and Records from which they were derived, (B)&nbsp;were prepared, in all material respects, in
accordance with SAP consistently applied during the periods involved, (C)&nbsp;present fairly, in all material respects, the statutory financial position, admitted assets, liabilities and capital and surplus of the Company at their respective dates,
and the statutory results of operations, changes in capital and surplus, and cash flows of the Company for the periods covered thereby, subject to normal year-end adjustments. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(b) The reserves for the payment of benefits, losses, claims, contingent obligations, unearned premium and expenses under the Company Policies
(other than the Reinsured Contracts), and related liability amounts, reflected on the Company Financial Statements as at September&nbsp;30, 2017 have been calculated (i)&nbsp;in accordance with the terms and conditions of such Company Policies;
(ii)&nbsp;in accordance with SAP consistently applied during the periods involved and applicable Law; and (iii)&nbsp;based on actuarial assumptions that were reasonable in relation to provisions of the relevant Company Policy; <U>provided</U>,
<U>however</U>, nothing in this <U>Section&nbsp;4.04(b)</U> shall be deemed a representation or warranty as to the adequacy or sufficiency of reserves or the effect of the adequacy or sufficiency of reserves on any line item, asset, Liability or
equity amount on any financial or other document including the Final Statements. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(c) Section&nbsp;4.04(c)(i) of the Sellers Disclosure
Schedule sets forth a list of all permitted accounting practices utilized in the preparation of the Company Financial Statements. Section&nbsp;4.04(c)(ii) of the Sellers Disclosure Schedule sets forth a list of all deficiencies or required
adjustments with respect to the Company Financial Statements that have been asserted by any applicable Governmental Authority since June&nbsp;30, 2015, and each such deficiency or adjustment has been cured or otherwise resolved to the satisfaction
of such Governmental Authority. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(d) The Books and Records (other than Books and Records exclusively relating to Accident and Health
Individual Policies or the Excluded BOLI/COLI Contracts) (i)&nbsp;have been maintained in all material respects in accordance with applicable Law and (ii)&nbsp;are in material compliance with any and all applicable legally and contractually required
record keeping maintenance requirements. The Seriatim File provided by Sellers to Purchaser in a disc on January&nbsp;18, 2018 contains a true, correct and complete list of all Reinsured Contracts as of September&nbsp;30, 2017 (except, in the case
of the Seriatim File, but not the Updated Seriatim File, with respect to &#147;Integrity OYT&#148;, which is as of October&nbsp;31, 2017 and &#147;Integrity SPWL&#148;, which is as of December&nbsp;31, 2016) and of the attributes of such Reinsured
Contracts set forth on Section&nbsp;4.04(d) of the Sellers Disclosure Schedule, in each case, to the extent applicable. The Updated Seriatim File to be provided by Sellers to Purchaser at Closing will contain a true, correct and complete list of all
Reinsured Contracts as of the last day of the immediately preceding calendar month that is at least ten (10)&nbsp;days prior to the Closing Date, and of the attributes of such policies set forth in Section&nbsp;4.04(d) of the Sellers Disclosure
Schedule, in each case, to the extent applicable. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Section&nbsp;4.05 <U>Internal Controls</U>. The Company has established and maintained
a system of internal accounting controls with respect to its business sufficient to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements in accordance with SAP and applicable Law,
including assurance that: </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">63 </P>


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(a)&nbsp;transactions are executed according to management&#146;s general or specific authorization; (b)&nbsp;transactions are recorded as necessary to permit the preparation of financial
statements in conformity with SAP and to maintain accountability for assets; (c)&nbsp;access to the Company&#146;s assets is permitted only in accordance with management&#146;s general or specific authorization; and (d)&nbsp;recorded accountability
for assets is compared with the existing assets at reasonable intervals and appropriate action is taken with respect to any differences. Sellers do not have, and have not had at any time since June&nbsp;30, 2015, any significant deficiencies or
material weaknesses in the design or operation of internal control over financial reporting of the Company. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Section&nbsp;4.06 <U>No
Undisclosed Liabilities</U>. The Transferred Companies do not have any Liabilities that are required to be reflected in a balance sheet (or in the notes thereto) of the Company prepared in accordance with SAP, except (a)&nbsp;those Liabilities
reflected or reserved in the balance sheet as of September&nbsp;30, 2017 included in the Company Financial Statements, (b)&nbsp;Liabilities disclosed in Section&nbsp;4.06 of the Sellers Disclosure Schedule, (c)&nbsp;Liabilities incurred in the
ordinary course of business since September&nbsp;30, 2017 that are not material to the Transferred Companies, taken as a whole, (d)&nbsp;liabilities incurred in connection with the transactions contemplated by this Agreement or the Ancillary
Agreements and (e)&nbsp;Liabilities arising under the terms of the Company Policies; <U>provided</U>, <U>however</U>, nothing in this <U>Section&nbsp;4.06</U> shall be deemed a representation or warranty as to the adequacy or sufficiency of reserves
or the effect of the adequacy or sufficiency of reserves on any line item, asset, Liability or equity amount on any financial or other document. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Section&nbsp;4.07 <U>Litigation; Orders</U>. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(a) There are no Actions or arbitration proceedings pending or, to the Knowledge of Sellers, threatened in writing (or in the case of clause
(iii), Orders) (i)&nbsp;against any Transferred Company (or in which a Transferred Company is otherwise a party) or any assets, properties, rights or privileges of a Transferred Company (other than ordinary course claims litigation in connection
with Company Policies or the Excluded BOLI/COLI Contracts or the Accident and Health Individual Policies), (ii)&nbsp;against Sellers or any of their Affiliates (other than the Transferred Companies), or in which Sellers or any of Sellers&#146;
Affiliates is otherwise a party, or any of their respective assets, properties, rights or privileges, solely to the extent related to the Transferred Businesses, which in the case of clauses&nbsp;(i) and (ii), are pending or threatened in writing
and which would, individually or in the aggregate, reasonably be material to the Transferred Companies, taken as a whole, or (iii)&nbsp;which would be reasonably likely to prohibit or restrain the ability of Sellers or the Transferred Companies to
consummate the transactions contemplated hereby. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(b) There are no outstanding Orders against or involving a Transferred Company by or
before any Governmental Authority which would, individually or in the aggregate, reasonably be expected to be material to the Transferred Companies, taken as a whole. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Section&nbsp;4.08 <U>Absence of Certain Changes and Events</U>. Since September&nbsp;30, 2017 to the date hereof, there has not been any
action taken by Sellers or their Affiliates that, if taken during the period from and after the date hereof and prior to the Closing, would require Purchaser&#146;s consent pursuant to <U>Section&nbsp;8.01(a)(i)</U>, <U>(v)</U>, <U>(vi)(A)</U>,
<U>(vi)(B)</U>, <U>(viii)</U>, <U>(x)</U>, <U>(xii)(A)</U>, <U>(xii)(B)</U>, <U>(xiii)</U>, <U>(xiv)</U>, <U>(xv)</U>, <U>(xvi)</U>, <U>(xvii)</U>, <U>(xviii)</U>, <U>(xxi)</U>&nbsp;and <U>(xxii)</U>&nbsp;(solely to the extent applicable to the
subsections </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">64 </P>


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of <U>Section&nbsp;8.01(a)</U> referenced in this <U>Section&nbsp;4.08</U>). Since December&nbsp;31, 2016, (a)&nbsp;to the date of this Agreement, (i)&nbsp;the Transferred Companies have
conducted their businesses and (ii)&nbsp;Sellers have conducted the Transferred Businesses, in each case in the ordinary course consistent with past practices in all material respects, and (b)&nbsp;there has not been any adverse event, change or
circumstance that, individually or in the aggregate, has had or would reasonably be expected to have a Material Adverse Effect. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Section&nbsp;4.09 <U>Sufficiency</U>. Except as set forth in Section&nbsp;4.09 of the Sellers Disclosure Schedule, the assets, properties and
rights of the Transferred Companies, together with the Acquired Group Benefits Assets and the Transferred Group Benefits Employees and the other assets, rights, properties, employees and services made available to Purchaser or the Transferred
Companies pursuant to this Agreement, the Company Transition Services Agreement and the Ancillary Agreements will, in the aggregate, as of the Closing, comprise all assets, rights, properties, employees and services that are necessary to permit the
Transferred Companies to operate the Group Benefits Business immediately following the Closing Date in substantially the same manner as the Group Benefits Business is being operated as of the date hereof. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Section&nbsp;4.10 <U>Company Policies</U>. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(a) Since June&nbsp;30, 2015, the Company Policies have been, to the extent required under applicable Law, on forms and at rates, and all
marketing materials, brochures and certificates pertaining thereto have been, to the extent required by applicable Law, approved by applicable Governmental Authorities or filed and not objected to by such Governmental Authorities within the period
provided for objection, in each case except as would not, individually or in the aggregate, reasonably be expected to be material to the Transferred Companies taken as a whole. To the Knowledge of Sellers, since June&nbsp;30, 2015, no material
deficiencies have been asserted by any Governmental Authority with respect to any such filings which have not been cured or otherwise resolved, in each case, with respect to such forms, rates, marketing materials, brochures, illustrations or
certificates. Since June&nbsp;30, 2015, all Company Policies and all such policy and contract forms, amendments and applications and all such marketing materials, brochures, illustrations and certificates and rates, comply with, and have been sold,
issued, maintained and administered in accordance with, applicable Law in all material respects. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(b) The Company has paid all material
guaranty fund assessments that have been due, claimed or asserted by, or that are the subject of any voluntary contribution commitment to, any state guaranty fund or association or any Governmental Authority charged with the supervision of insurance
companies in any jurisdiction in which the Company does business. Except for regular periodic assessments in the ordinary course of business, assessments based on developments that are publicly known within the insurance industry or such assessments
as would not, individually or in the aggregate, be material to the Transferred Companies taken as a whole, no claim or assessment against the Transferred Companies is pending or, to the Knowledge of Sellers, threatened against the Transferred
Companies in writing, by any state insurance guaranty association in connection with such association&#146;s fund relating to insolvent insurers, and since June&nbsp;30, 2015, neither Sellers or their Affiliates have received written notice of any
such claim or assessment. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">65 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(c) Except as set forth on Section&nbsp;4.10(c) of the Sellers Disclosure Schedule, no provision
in any Company Policy gives the holder thereof (or any other Person) the right to receive policy dividends or otherwise participate in the revenue, earnings or profits of the Company. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Section&nbsp;4.11 <U>Material Contracts</U>. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(a) Section&nbsp;4.11(a) of the Sellers Disclosure Schedule sets forth a true, complete and correct list, as of the date of this Agreement, of
all Contracts to which any Transferred Company is a party that meets any of the following criteria and which is not a Group Benefits Plan, Life Plan, insurance contract, administrative services contract in respect of leave or self-insured plans or
Reinsurance Contract (each, a &#147;<U>Material Contract</U>&#148;): </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(i) requires expenditures involving consideration in
excess of two hundred fifty thousand dollars ($250,000) in the aggregate in any twelve (12)-month period; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(ii) provides
for payments to be received in excess of two hundred fifty thousand dollars ($250,000) in the aggregate in any twelve (12)-month period; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(iii) relates to the incurrence by any Transferred Company of any indebtedness in excess of two hundred fifty thousand dollars
($250,000); </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(iv) relates to the acquisition or disposition by any Transferred Company of any material business (whether by
merger, sale or purchase of stock, sale or purchase of assets or otherwise) to the extent any actual or contingent obligations of any Transferred Company thereunder remain outstanding or otherwise occurring during the five (5)&nbsp;year period
preceding the date of this Agreement, in each case, other than transactions involving Investment Assets or the Restructuring Transactions; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(v) grants a right of first refusal or first offer or similar right or materially restricts or limits a Transferred
Company&#146;s, or, following the Closing, any of its Affiliates&#146; or Reinsurer&#146;s, ability to freely engage in any business, compete with other entities, compete in any geographic region, market any product or solicit employees or
customers, provides for &#147;exclusivity&#148; or any similar requirement or includes a &#147;most favored nation&#148; provision, in each case (as applicable) in favor of any Person other than the subject Transferred Company (&#147;<U>Specified
Contracts</U>&#148;); </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(vi) contains guarantees, capital maintenance or keepwells (or similar support type obligations)
made or supported by any Transferred Company; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(vii) has a Governmental Authority as a party thereto and is a written
Contract and is binding on a Transferred Company (excluding Orders and Permits); </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(viii) is a lease, sublease or occupancy
agreement for real property to which any Transferred Company is a party or that is exclusively used in the conduct of the Transferred Businesses; </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">66 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(ix) relates to the license to or from any Transferred Company of any material
Intellectual Property (other than &#147;shrink wrap&#148; or &#147;click through&#148; licenses or licenses of generally available &#147;off the shelf&#148; computer software or databases for aggregate license fees under such license of less than
two hundred fifty thousand dollars ($250,000)); </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(x) is a Multiparty Agreement or a Shared Contract that involves
consideration in excess of two hundred fifty thousand dollars ($250,000) in the aggregate in any twelve (12)-month period; or </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(xi) is an obligation to enter into any of the foregoing. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(b) Assuming due authorization, execution and delivery thereof by the other party or parties thereto, as of the date of this Agreement,
(i)&nbsp;each Material Contract is a valid and binding obligation of the Transferred Company party thereto and, to the Knowledge of Sellers, each other party or parties thereto, in accordance with its terms and is in full force and effect, subject
to the Enforceability Exceptions, (ii)&nbsp;each Transferred Company party thereto is not and, to the Knowledge of Sellers, no other party thereto is (or, with the giving of notice or the lapse of time or both, will be) in default in the
performance, observance or fulfillment of any obligation, covenant or condition contained in any Material Contract and (iii)&nbsp;no event has occurred that, with or without notice, the passage of time or both, would constitute a violation, breach
or default by any Transferred Company or, to the Knowledge of Sellers, any other party thereto under any Material Contract, except, with respect to the foregoing clauses&nbsp;(i), (ii)&nbsp;and (iii), where such failures to be valid and binding and
in full force and effect and such defaults would not, individually or in the aggregate, reasonably be expected to be material to the Transferred Companies, taken as a whole, or the Transferred Businesses, taken as a whole, as applicable. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(c) Sellers have Made Available to Purchaser true, complete and correct copies of the Material Contracts. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(d) As of the Business Day prior to the date hereof, neither Sellers nor any of their Affiliates has received any written, or to the Knowledge
of Sellers, oral notice from any customer listed on Section&nbsp;4.11(d) of the Sellers Disclosure Schedule, in each case indicating such customer&#146;s express intention (excluding, for the avoidance of doubt, complaints or other similar
communications not expressing such an intent) to cancel, terminate, request termination assistance services under, or allow to lapse any Company Policies or Assigned Group Benefits Contracts that were in effect at any time between June&nbsp;30, 2017
and the date hereof. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Section&nbsp;4.12 <U>Assigned Group Benefits Contracts</U>. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(a) Assuming due authorization, execution and delivery thereof by the other party or parties thereto, as of the date hereof, (i)&nbsp;each
Assigned Group Benefits Contract is a valid and binding obligation of a Seller or an Affiliate of Sellers party thereto (including any applicable Transferred Company) and, to the Knowledge of Sellers, each other party or parties thereto, in
accordance with its terms and is in full force and effect, subject to the Enforceability Exceptions, (ii)&nbsp;Sellers or their Affiliates party thereto (including any applicable Transferred Company) are not and, to the Knowledge of Sellers, no
other party thereto is (or, with the giving or notice or lapse of time or both will be) in default in the performance, observance or fulfillment of any </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">67 </P>


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obligation, covenant or condition contained in an Assigned Group Benefits Contract and (iii)&nbsp;no event has occurred that, with or without notice, the passage of time or both, would constitute
a violation, breach or default by any Transferred Company or, to the Knowledge of Sellers, any other party thereto under an Assigned Group Benefits Contract, except, with respect to the foregoing clauses&nbsp;(i), (ii)&nbsp;and (iii), where such
failures to be valid and binding and in full force and effect and such defaults would not, individually or in the aggregate, be material to the Transferred Companies, taken as a whole. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(b) Sellers have Made Available to Purchaser true, complete and correct copies of each Assigned Group Benefits Contract. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Section&nbsp;4.13 <U>Group Benefits Appraisal</U>. Sellers have Made Available to Purchaser true, complete and correct copies of the actuarial
report prepared by the Specified Actuary with respect to the Group Benefits Business, dated August&nbsp;23, 2017 (the &#147;<U>Group Benefits Actuarial Report</U>&#148;) and all attachments, addenda and written supplements and modifications thereto.
As of the date hereof, to the Knowledge of Sellers, the Specified Actuary has not issued a new or revised version of the Group Benefits Actuarial Report. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Section&nbsp;4.14 <U>Insurance Regulatory Matters</U>. Since June&nbsp;30, 2015, (a)&nbsp;the Company has filed all material reports,
statements, registrations, filings, notices or submissions required to be filed or otherwise submitted by the Company with any Governmental Authority responsible for the regulation of insurance companies, (b)&nbsp;all such reports, statements,
registrations, filings, notices or submissions were timely filed and complied in all material respects with applicable Law when filed or as amended or supplemented and (c)&nbsp;no deficiencies or violations have been asserted in writing by such
Governmental Authority with respect to such reports, statements, registrations, filings, or submissions that have not been, to the Knowledge of Sellers, resolved to the satisfaction of the applicable Governmental Authority. The Company is not deemed
to be &#147;commercially domiciled&#148; under the Laws of any jurisdiction and is not otherwise treated as domiciled in a jurisdiction other than the State of New Hampshire. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Section&nbsp;4.15 <U>Examinations</U>. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(a) Sellers have Made Available to Purchaser true, complete and correct copies of all material examination reports and market conduct reports
of any Governmental Authority with respect to the Transferred Companies or the Transferred Businesses received by them or an Affiliate of Sellers (including a Transferred Company) on or after June&nbsp;30, 2015 and prior to the date hereof. All
material deficiencies or violations noted in such examination reports have been, to the Knowledge of Sellers, cured or resolved to the satisfaction of the applicable Governmental Authority. Section&nbsp;4.15(a) of the Sellers Disclosure Schedule
sets forth a true, complete and correct list of any ongoing examinations of any Governmental Authority with respect to the Transferred Companies or the Transferred Businesses as of the date hereof. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(b) Since June&nbsp;30, 2015, the Company has been in compliance in all material respects with all applicable Laws regulating the marketing and
sale of insurance policies, regulating advertisements, requiring mandatory disclosure of policy information, requiring employment of standards to determine if purchase of a policy or contract is suitable for an applicant, prohibiting use of unfair
methods of competition and deceptive acts or practices and regulating replacement transactions. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">68 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Section&nbsp;4.16 <U>Sales Practices</U>. Except as set forth in Section&nbsp;4.16 of the Sellers
Disclosure Schedule, each of the brokers, broker dealers, insurance agents, producers, distributors or other Persons who market, produce or service the Group Benefits Policies, or any successors thereto (each, a &#147;<U>Group Distributor</U>&#148;)
that is an Affiliate of the Sellers and, to the Knowledge of Sellers, each Group Distributor that is not an Affiliate of the Sellers, are and have been since June&nbsp;30, 2015, in connection with the Group Benefits Business, in compliance in all
material respects with all applicable Laws regulating the marketing and sale of such Group Benefits Policies, regulating advertisements, requiring mandatory disclosure of policy information and prohibiting the use of unfair methods of competition
and deceptive acts or practices. For purposes of this <U>Section&nbsp;4.16</U>, &#147;advertisement&#148; means any material designed to create public interest in a Group Benefits Policy or in the Company, or in a Group Distributor with respect to
the Group Benefits Policies, or to induce the public or an employer (including the association listed on Section&nbsp;1.01(b) of the Sellers Disclosure Schedule) to increase, modify, reinstate, borrow on, replace or retain a Group Benefits Policy.
</P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Section&nbsp;4.17 <U>Reinsurance</U>. Section&nbsp;4.17 of the Sellers Disclosure Schedule sets forth a true, complete and correct list,
as of the date of this Agreement, of each Reinsurance Contract. True, correct and complete copies of each Reinsurance Contract (including, in each case, all amendments and addenda thereto) have been Made Available to Purchaser. Assuming due
authorization, execution and delivery thereof by the other party or parties thereto as of the date of this Agreement, (a)&nbsp;each Reinsurance Contract is a valid and binding obligation of the Company and, to the Knowledge of Sellers, each other
party or parties thereto, in accordance with its terms and is in full force and effect, subject to the Enforceability Exceptions, (b)&nbsp;each Company party thereto is not and, to the Knowledge of Sellers, no other party thereto is (or, with the
giving of notice or the lapse of time or both, will be) in default in the performance, observance or fulfillment of any obligation, covenant or condition contained in any Reinsurance Contract and (c)&nbsp;no event has occurred that, with or without
notice, the passage of time or both, would constitute a violation, breach or default by the Company or, to the Knowledge of Sellers, any other party thereto under any Reinsurance Contract, except, with respect to the foregoing clauses&nbsp;(a),
(b)&nbsp;and (c), where such failures to be valid and binding and in full force and effect and such defaults would not, individually or in the aggregate, reasonably be expected to be material to the Transferred Companies, taken as a whole or the
Transferred Businesses, taken as a whole, as applicable. To the Knowledge of Sellers, no other party to any Reinsurance Contract is the subject of a rehabilitation, liquidation, conservatorship, receivership, bankruptcy or similar proceeding. No
Reinsurance Contract contains triggers that would allow the counterparty to terminate based on a ratings downgrade of the Company below certain minimum ratings issued by a credit rating agency or a reduction in the Company&#146;s capital and surplus
below a certain level. As of the date hereof, no party to any Reinsurance Contract has given written notice of termination (provisional or otherwise) under any Reinsurance Contract. From December&nbsp;31, 2016 to the date hereof, (i)&nbsp;Sellers
and their Affiliates have not received any written notice of any actual or proposed increase in the rate payable under any Reinsurance Contract, and (ii)&nbsp;no such increase has occurred. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">69 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Section&nbsp;4.18 <U>Affiliate Transactions</U>. Section&nbsp;4.18 of the Sellers Disclosure
Schedule contains a true, complete and correct list, as of the date hereof, of all written Intercompany Agreements. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Section&nbsp;4.19
<U>Policy Tax Matters</U>. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(a) Sellers and the Transferred Companies monitor the Company Policies for compliance with their intended Tax
treatment under the Code, including monitoring the Company Policies for treatment as &#147;modified endowment contracts,&#148; and the Company Policies satisfy the applicable requirements for such Tax treatment in all material respects. For purposes
of this <U>Section&nbsp;4.19</U>, the provisions of applicable Law relating to Tax treatment of the Company Policies shall include, but not be limited to, Sections 72, 101, 817, 7702, 7702A and 7702B of the Code. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(b) Sellers and each Transferred Company has complied in all material respects with all Tax reporting, withholding and disclosure requirements
that are applicable to the Company Policies, and has reported, in all material respects, all distributions under such Policies in accordance with all applicable requirements of the Code, Treasury Regulations and forms issued by the IRS. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(c) Each Company Policy provides, and since the date of issuance, assumption, exchange, modification or purchase of such Company Policy has
provided, the purchaser, policyholder, account holder, other holder or intended beneficiary thereof with Tax treatment under the Code that is, in all material respects, the same as or more favorable than the Tax treatment (i)&nbsp;that was purported
to apply in materials provided at the time of issuance, assumption, exchange, modification or purchase or (ii)&nbsp;for which such policies or contracts were intended or reasonably expected to qualify under the Code at the time of issuance,
assumption, exchange, modification or purchase. Each Company Policy that is subject to Section&nbsp;7702 of the Code satisfies in all material respects the requirements of Section&nbsp;7702(a) of the Code and otherwise qualifies as a &#147;life
insurance contract&#148; for purposes of the Code. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(d) No Company Policy constitutes a &#147;modified endowment contract&#148; within the
meaning of Section&nbsp;7702A of the Code. The Company has received signed acknowledgments substantially in the form of the acknowledgement that was Made Available in subfolder 10.243 of folder &#147;Providence Individual&#148; of the Electronic
Data Room from the applicable policyholder of each Company Policy of the type described on Section&nbsp;4.19(d) of the Sellers Disclosure Schedule (other than the &#147;Inadvertent MECs&#148; as defined therein). </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(e) The Transferred Companies are treated for U.S. federal income Tax purposes as the owner of the assets underlying the Company Policies. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(f) None of Sellers or any of the Transferred Companies are parties to any &#147;hold harmless,&#148; Tax sharing or indemnification agreements
regarding the Tax qualification or Tax treatment of any Company Policy (whether developed by, administered by, or reinsured with any unrelated third party) or any plan or arrangement entered into by any of the Transferred Companies in connection
with which such Company Policies were purchased or have been administered. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">70 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(g) There is no currently pending (i)&nbsp;U.S. federal, state, local, or foreign audit or other
administrative proceeding by any Taxing Authority or (ii)&nbsp;judicial proceeding, in either case against Sellers or any of the Transferred Companies or, to the Knowledge of Sellers, against any other party, regarding material Taxes with respect to
the Tax treatment of any Company Policy or any plan or arrangement entered into by any of the Transferred Companies in connection with which such Company Policies were purchased or have been administered. None of Sellers or the Transferred Companies
has requested or is subject to a ruling or waiver with respect to any material potential or actual failure of any Company Policy to meet any applicable requirements of the Code or any Treasury Regulations or administrative guidance issued thereunder
that would have continuing effect or be binding for periods (or portions thereof) ending after the Balance Sheet Date. None of Sellers or the Transferred Companies have entered into any material settlement agreement, closing agreement or other
agreement with any Taxing Authority with respect to any potential or actual failure of any Company Policy to meet any applicable requirements of the Code or any Treasury Regulations or administrative guidance issued thereunder which agreement would
have continuing effect or be binding for periods (or portions thereof) ending after the Balance Sheet Date, and none of Sellers or the Transferred Companies are currently involved in any discussions or negotiations with any Taxing Authority
regarding any such agreement or request. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(h) Sellers have Made Available to Purchaser true and complete copies of all closing agreements
that any of Sellers or the Transferred Companies have entered into with the IRS since June&nbsp;30, 2015 relating to the Tax treatment of any Company Policy. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(i) None of Sellers or the Transferred Companies have requested relief from any Taxing Authority concerning the qualification of any Company
Policy under the Code, and no Taxing Authority has asserted in writing to Sellers or the Transferred Companies that any Company Policy fails to so qualify. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(j) Each &#147;segregated asset account,&#148; within the meaning of Section&nbsp;817(h) of the Code, maintained by any Transferred Company
meets, and since establishment of such account has met, the diversification requirements of Section&nbsp;817(h) of the Code and the Treasury Regulations promulgated thereunder, and otherwise satisfies in all material respects the requirements of the
Code, the Treasury Regulations, and administrative guidance issued thereunder. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(k) None of the Company Policies provide &#147;health
insurance coverage&#148; within the meaning of Section&nbsp;9832(b)(1) of the Code. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(l) Notwithstanding any other representation or
warranty in this Agreement to the contrary, the representations and warranties in this <U>Section&nbsp;4.19</U>, <U>Section&nbsp;4.20</U> and, solely to the extent relating to Taxes, <U>Section&nbsp;4.08</U> and <U>Section&nbsp;4.25</U> constitute
the sole and exclusive representations and warranties of Sellers to Purchaser with respect to Taxes. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">71 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Section&nbsp;4.20 <U>Taxes</U>. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(a) All material Tax Returns required to be filed by or with respect to each Transferred Company, the Acquired Group Benefits Assets, the
Assumed Group Benefits Liabilities, or the Group Benefits Business have been timely filed (taking into account applicable extensions), and all material Taxes required to be paid (or withheld and remitted) by or on behalf of or with respect to a
Transferred Company, the Acquired Group Benefits Assets, the Assumed Group Benefits Liabilities, or the Group Benefits Business (whether or not shown to be due and payable on such Tax Returns) have been&nbsp;timely paid (or caused to be timely paid
or duly and timely withheld and remitted) to the proper Taxing Authority, except for any such Taxes that are being contested in good faith by appropriate proceedings and for which adequate liabilities therefor have been provided on the Company
Financial Statements in accordance with SAP. Each Transferred Company has complied in all material respects with all applicable Laws relating to the withholding and collection of Taxes, and all material amounts withheld or collected pursuant to such
Laws have been duly and timely paid to the applicable Taxing Authority. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(b) None of LMGI, Sellers, or the Transferred Companies has
received within the past three (3)&nbsp;years any written notice of any actions for the assessment or collection of material Taxes with respect to any Transferred Company, and there are no currently pending Tax audits, investigations, examinations,
or other proceedings by a Taxing Authority with respect to material Taxes of any Transferred Company. There are no currently pending written requests for waivers of the time to assess any material Tax of the Transferred Companies. None of the
Transferred Companies has waived any statute of limitations with respect to material Taxes, or agreed to any extension of time with respect to a material Tax assessment or deficiency, which waiver or extension is currently in effect. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(c) No claim has ever been made in writing by a Taxing Authority of a jurisdiction where a Transferred Company has not filed Tax Returns or
paid Taxes of a particular type claiming that such Transferred Company is subject to taxation by that jurisdiction, required to file such Tax Returns, or required to pay such Taxes. There are no rulings, special tax incentives, closing agreements,
or similar arrangements with any Taxing Authority with regard to material Taxes, material Tax Returns, or the determination of the material Tax liability of any Transferred Company that would have continuing effect or be binding for periods (or
portions thereof) ending after the Balance Sheet Date. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(d) There are no Encumbrances for material Taxes against any assets of the
Transferred Companies or the Acquired Group Benefits Assets, except for Permitted Encumbrances. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(e) None of the Transferred Companies is a
party to, or bound by, any Tax allocation, indemnification or sharing agreement or arrangement (other than an agreement with another Transferred Company), other than any agreements entered into in the ordinary course of business and the principal
purpose of which does not relate to the sharing or allocation of Taxes. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(f) None of the Transferred Companies (i)&nbsp;is or has been a
member of any affiliated, consolidated, combined, unitary, loss sharing or similar group for Tax purposes (other than a group of which Liberty Mutual Holding Company Inc. is or was the common parent) with respect to Taxes for any taxable period for
which the statute of limitations has not expired or (ii)&nbsp;has any liability for material Taxes of any Person (other than a Transferred Company) under Treasury Regulations Section&nbsp;1.1502-6 (or any similar provision of state, local, or
non-U.S. Law) or as a transferee or successor or otherwise under any provision of applicable Law. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">72 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(g) None of the Transferred Companies is required to include any material item of income in, or
exclude any material item of deduction from, taxable income for any Post-Balance Sheet Date Tax Period as a result of (i)&nbsp;an adjustment pursuant to Section&nbsp;481(a) of the Code with respect to a change in accounting method that occurred
before the Closing Date or (ii)&nbsp;a change in the basis for determining any item referred to in Section&nbsp;807(c) of the Code with respect to any Pre-Closing Tax Period. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(h) None of the Transferred Companies has constituted either a &#147;distributing corporation&#148; or a &#147;controlled corporation&#148;
(within the meaning of Section&nbsp;355(a)(1)(A) of the Code) in a transaction intended to qualify pursuant to Section&nbsp;355 of the Code within the past two (2)&nbsp;years. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(i) None of the Transferred Companies has participated in any &#147;listed transaction&#148; within the meaning of Treasury Regulations
Section&nbsp;1.6011-4 (or any similar provision of state, local, or non-U.S. Law). </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(j) Each of the Transferred Companies that is regulated
under applicable state law as a life insurance company qualifies as a life insurance company within the meaning of Section&nbsp;816 of the Code and has been subject to taxation under Subchapter L of the Code. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(k) None of the Transferred Companies has a policyholder surplus account within the meaning of Section&nbsp;815 of the Code. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(l) Sellers are eligible to make an election under Section&nbsp;338(h)(10) of the Code with respect to the sale of the Shares and the capital
stock of the Company Subsidiary. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(m) Notwithstanding any other representation or warranty in this Agreement to the contrary, the
representations and warranties in this <U>Section&nbsp;4.20</U>, <U>Section&nbsp;4.19</U> and, solely to the extent relating to Taxes, <U>Section&nbsp;4.08</U> and <U>Section&nbsp;4.25</U>, constitute the sole and exclusive representations and
warranties of Sellers and the Company to Purchaser with respect to Taxes. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Section&nbsp;4.21 <U>Investment Assets</U>.
Section&nbsp;4.21(a) of the Sellers Disclosure Schedule sets forth a true, complete and correct list of all Investment Assets (other than Investment Assets held in the Life Separate Accounts or, for the avoidance of doubt, the COLI Investment
Assets) owned by, or held in trust for the benefit of, the Company as at January&nbsp;11, 2018 (except with respect to the Specified Investment Assets, which are as at December&nbsp;31, 2017). The Company, or a trustee acting on the Company&#146;s
behalf, has good and valid title to all Investment Assets it purports to own, free and clear of all Encumbrances other than Permitted Encumbrances. Since June&nbsp;30, 2015, the Company has managed the Investment Assets then held by the Company in
accordance with the Company&#146;s investment guidelines set forth on Section&nbsp;4.21(b) of the Sellers Disclosure Schedule (the &#147;<U>Investment Guidelines</U>&#148;). As of January&nbsp;11, 2018, none of the Investment Assets then held by the
Company are subject to any Liabilities to fund any capital calls or capital commitments or similar obligations. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">73 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Section&nbsp;4.22 <U>Intellectual Property</U>. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(a) Section&nbsp;4.22(a) of the Sellers Disclosure Schedule sets forth a true, complete and correct list, as of the date of this Agreement, of
all U.S. and foreign (i)&nbsp;patents, including all reissues, divisions, renewals, extensions, provisionals, continuations and continuations-in-part thereof, and patent applications, (ii)&nbsp;Trademark registrations and pending Trademark
applications (including all renewals and intent-to-use applications thereof) and (iii)&nbsp;copyright registrations and applications, in each case owned by Sellers or their Affiliates that are included in the Transferred Group Benefits Intellectual
Property or Transferred Life Intellectual Property or are owned by a Transferred Company. Sellers and their Affiliates are the exclusive and, if applicable, record owners of the material Transferred Intellectual Property, free and clear of all
Encumbrances other than Permitted Encumbrances. As of the Closing Date, the Transferred Companies will be the exclusive owners of the material Transferred Group Benefits Intellectual Property, free and clear of all Encumbrances other than Permitted
Encumbrances. The Transferred Intellectual Property listed on Section&nbsp;4.22(a) of the Sellers Disclosure Schedule is subsisting and, to the Knowledge of Sellers, the Transferred Intellectual Property listed on Section&nbsp;4.22(a) of the Sellers
Disclosure Schedule and all other material Transferred Intellectual Property is valid and enforceable. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(b) To the Knowledge of Sellers,
the conduct of the Transferred Businesses as currently conducted does not infringe, misappropriate, dilute, breach or otherwise violate any Person&#146;s Intellectual Property. To the Knowledge of Sellers, since June&nbsp;30, 2015, no Person has
infringed, misappropriated, diluted or otherwise violated, or is infringing, misappropriating, diluting or otherwise violating any of the Transferred Intellectual Property or any Intellectual Property owned by a Transferred Company. No such claims
are pending or threatened in writing against any Person by Sellers or any of their Affiliates. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(c) Sellers and their Affiliates (including
the Transferred Companies) have taken all actions reasonably necessary to maintain the enforceability of the material Transferred Intellectual Property and the Intellectual Property owned by the Transferred Companies under all applicable Law
(including (i)&nbsp;making and maintaining in full force and effect all necessary filings, registrations and issuances with respect to the material Transferred Intellectual Property that is the subject of a registration or pending application and
(ii)&nbsp;maintaining the secrecy of all material confidential Intellectual Property used in the Transferred Businesses). </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Section&nbsp;4.23 <U>Data Protection; IT Systems</U>. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(a) Except as would not, individually or in the aggregate, be material to the Transferred Companies, taken as a whole, the Transferred
Companies are, and have since June&nbsp;30, 2015 been, in compliance with their respective publicly distributed policies and any contractual requirements, including applicable terms of use and external-facing privacy policies, pertaining to the
protection, privacy, security, collection, storage, use, disclosure, disposal, maintenance and transmission of Personal Information. To the Knowledge of Sellers, since June&nbsp;30, 2015, none of Sellers and their Affiliates, or, to the Knowledge of
Sellers, any third Person working on behalf of any of them, has experienced an incident of unauthorized access, disclosure, use, destruction or loss of any Personal Information that Sellers or their Affiliates (or a third Person on behalf of any of
them) collects, stores, uses or transmits in the conduct of the Transferred Businesses that by Law required the delivery of notice to affected individuals pursuant to Laws pertaining to privacy and data security. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">74 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(b) Since June&nbsp;30, 2015, there have been no disruptions or defects in the information
technology systems used in the Transferred Businesses that materially adversely affected the operations of the Transferred Businesses other than disruptions or defects which have been repaired or resolved. To the Knowledge of Sellers, none of any
information technology systems included in the Acquired Assets contain any viruses, back doors, trap doors, Trojan horses and other malicious or destructive code or software routines that may, or may be used to, permit unauthorized access to
software, hardware or data related to the Transferred Businesses, or modify, delete, damage, disable, erase, interrupt, interfere with or otherwise harm the same, or that would reasonably be expected to interfere with the ability of Purchaser to
conduct the Transferred Businesses. Sellers and their Affiliates have implemented, maintain, and comply with commercially reasonable business continuity and backup and disaster recovery plans and procedures with respect to the information technology
systems owned by Seller or its Affiliates and used in the Transferred Businesses, and direct third parties operating information technology systems that are material to the operation of the Transferred Businesses to maintain commercially reasonable
business continuity and backup and disaster recovery plans and procedures with respect to such systems. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Section&nbsp;4.24
<U>Insurance</U>. As of the date hereof, all current property and liability insurance policies covering the Transferred Companies are (i)&nbsp;in full force and effect (and all premiums due and payable thereon have been paid), and no written notice
of cancellation, termination or revocation or other written notice that any such insurance policy is no longer in full force or effect or that the issuer of any such insurance policy is not willing or able to perform its obligations thereunder has
been received by a Transferred Company and (ii)&nbsp;none of the Transferred Companies is in default of any provision thereof, except for such defaults that would not, individually or in the aggregate, be material to the Transferred Companies, taken
as a whole. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Section&nbsp;4.25 <U>Group Benefits Plans</U>. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(a) Section&nbsp;4.25(a) of the Sellers Disclosure Schedule contains a true, complete and correct list of all material Group Benefits Plans.
With respect to each such Group Benefits Plan, Sellers have provided or Made Available to Purchaser (where applicable) true, complete and correct copies of all material plan documents or summary plan descriptions, and any material amendments and
modifications related thereto. No Benefit Plan is (or has been in the six (6)&nbsp;years prior to the date hereof) maintained or sponsored by a Transferred Company, and no Transferred Company is a participating employer in any Benefit Plan. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(b) Each Group Benefits Plan intended to be qualified under Section&nbsp;401(a) of the Code, and the trust (if any) forming a part thereof, has
received a favorable determination or opinion letter from the IRS and, to the Knowledge of Sellers, there are no existing circumstances or events that would reasonably be expected to adversely affect the qualified status of any such Group Benefits
Plan. Except as would not, individually or in the aggregate, reasonably be expected to result in a material Liability to the Transferred Companies or Purchaser or its Affiliates, (i)&nbsp;each Group Benefits Plan has been operated in compliance with
the terms of such Group Benefits Plan and applicable Law, (ii)&nbsp;all contributions required to be made to any Group </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">75 </P>


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Benefits Plan by applicable Law or by any plan document or other contractual undertaking, and all premiums due or payable with respect to insurance policies funding any Group Benefits Plan, have
been timely made or paid in full, and (iii)&nbsp;there are no pending or, to the Knowledge of Sellers, threatened claims (other than routine claims for benefits) by, on behalf of or against any of the Group Benefits Plans or any trusts related
thereto. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(c) No Liability under Title&nbsp;IV of ERISA has been incurred by Sellers or any trade or business, whether or not incorporated,
that together with Sellers would be deemed a single employer within the meaning of Section&nbsp;4001(b) of ERISA (an &#147;<U>ERISA Affiliate</U>&#148;) that has not been satisfied in full and no event has occurred and no condition exists that could
reasonably be expected to result in Sellers or any ERISA Affiliate or, following the Closing, Purchaser or its Affiliates, incurring a Liability under Title&nbsp;IV of ERISA, other than with respect to Sellers and their Affiliates (other than the
Transferred Companies), Liability for premiums due the Pension Benefit Guaranty Corporation (which premiums have been paid when due). None of Sellers or any of their ERISA Affiliates has, within the immediately preceding six (6)&nbsp;years,
contributed to, been required to contribute to or had any Liability with respect to any Multiemployer Plan or a plan that has two (2)&nbsp;or more contributing sponsors, at least two (2)&nbsp;of whom are not under common control, within the meaning
of Section&nbsp;4063 of ERISA. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(d) Except as contemplated by <U>Sections&nbsp;9.01(c)</U>, <U>9.01(d)</U> and <U>9.01(g)</U>, the
execution, delivery and performance of this Agreement and the consummation of the transactions contemplated by this Agreement will not (alone or in combination with any other event) (i)&nbsp;entitle any Group Benefits Employee to any severance pay
or any other cash payment from Sellers or their Affiliates or (ii)&nbsp;accelerate the time of payment or vesting of benefits or increase the amount of other compensation due to any Group Benefits Employee. No Group Benefits Plan provides for, and
neither Sellers nor any of their Subsidiaries otherwise has any obligation to provide, a gross-up or reimbursement of Taxes imposed under Section&nbsp;409A or 4999 of the Code. The consummation of the transactions contemplated by this Agreement will
not cause any amounts payable under the Group Benefits Plans to fail to be deductible for U.S. federal income Tax purposes by virtue of Section&nbsp;280G of the Code. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(e) No Group Benefits Plan provides medical, dental, or life insurance coverage or any other welfare benefits after termination of employment,
other than coverage mandated by COBRA. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Section&nbsp;4.26 <U>Producers</U>. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(a) Since June&nbsp;30, 2015, the Transferred Companies have implemented and followed in all material respects programs and policies designed
to provide reasonable assurance that each Producer of any Transferred Company at the time it wrote, marketed, produced, sold, solicited or serviced Company Policies, to the extent required by applicable Law, governmental authorization or contract,
was duly licensed, authorized and appointed (for the respective type of business written, marketed, produced, sold, solicited or serviced by such Producer), in each case, in the particular jurisdiction in which such Producer wrote, marketed,
produced, sold, solicited or serviced such Company Policies. To the Knowledge of Sellers, no Producer is in material violation, or since June&nbsp;30, 2015 has been in material violation, of any Law applicable to the type of Company Policies
written, marketed, produced, sold, solicited or produced by such Producer. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">76 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(b) Sellers have Made Available to Purchaser copies of the standard forms of contracts that
govern the basic relationship between each Transferred Company and Producers as of the date hereof (each such contract between a Transferred Company and a Producer, a &#147;<U>Producer Contract</U>&#148;), and no Producer Contract between a
Transferred Company and any of its top five (5)&nbsp;Producers (other than Producers who are employees of the Company or an Affiliate of the Company), determined by sales of Company Policies in the year ended December&nbsp;31, 2016, contains any
deviations from such forms of contracts that would be material to the applicable Transferred Company as of the date hereof. As of the date hereof, no Producer who is a party to a Producer Contract has notified any Transferred Company of its intent
to terminate its relationship with such Transferred Company. Except for the Producer Contracts, there are no agreements with the Transferred Companies providing for compensation or indemnification of Producers or the provision of financing (whether
in form of contract loans or otherwise) to Producers that are material to the applicable Transferred Company. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(c) As of the date hereof,
there are no outstanding (i)&nbsp;disputes with Producers (other than Producers who are employees of the Company or an Affiliate of the Company) concerning material amounts of commissions or other incentive compensation, (ii)&nbsp;material errors
and omissions claims against any Producer (other than a Producer who is an employee of the Company or an Affiliate of the Company) or (iii)&nbsp;material amounts owed by any Producer (other than a Producer who is an employee of the Company or an
Affiliate of the Company) to the Transferred Companies. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Section&nbsp;4.27 <U>Group Benefits Labor Matters</U>. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(a) With respect to the Group Benefits Employees, neither Sellers nor any of their Affiliates is a party to any collective bargaining agreement
or other labor-related agreement with any labor union or other organization or group, and there are no labor unions or other organizations or groups representing, purporting to represent and, to the Knowledge of Sellers, there are no organizational
efforts or representation or certification proceedings or petitions seeking a representation proceeding with respect to, any Group Benefits Employees relating to their employment with Sellers or their Affiliates. No individual, including any Group
Benefits Employee, is or has ever been employed by a Transferred Company. No Group Benefits Employee is employed in a location outside of the United States. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(b) Since June&nbsp;30, 2015, there has not occurred or, to the Knowledge of Sellers, been threatened any material strike, work stoppage,
lockout, arbitration, grievances or unfair labor practice charge with respect to, any Group Benefits Employees. With respect to the Group Benefits Business, since June&nbsp;30, 2015, Sellers and their Affiliates have been in compliance, in all
material respects, with all Laws regarding employment (including anti-discrimination and anti-retaliation Laws), employment practices (including equal pay, accommodation and leave Laws), labor, wage and hour, workers&#146; compensation and worker
classification. No &#147;plant closing&#148; or &#147;mass layoff&#148; under the WARN Act or other employment termination that could reasonably be expected to implicate the notice or pay in lieu of notice requirements under the WARN Act with
respect to Group Benefits Employees has occurred in the ninety (90)&nbsp;days prior to the date hereof or is contemplated to be undertaken by the Company following the date hereof and prior to the Closing Date. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">77 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(c) Section&nbsp;4.27(c) of the Sellers Disclosure Schedule sets forth a true, complete and
correct list of each Group Benefits Employee, including each Shared Employee, and identifies any such individual who is on long-term disability leave as of the date hereof, together with each such Group Benefits Employee&#146;s (i)&nbsp;current base
salary (or wages), (ii)&nbsp;current year target incentive compensation opportunity, including any commission plan in which such individual participates, (iii)&nbsp;actual incentive compensation earned during the prior completed fiscal year,
(iv)&nbsp;current salary grade level, (v)&nbsp;recognized years of service, (vi)&nbsp;current work location, (vii)&nbsp;current job title, (viii)&nbsp;current manager&#146;s name and title, (ix)&nbsp;date of hire, (x)&nbsp;current leave status,
(xi)&nbsp;exempt or non-exempt status, (xii)&nbsp;full- or part-time status, and (xiii)&nbsp;immigration status and type and duration of visa, if applicable. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(d) Each Group Benefits Employee, other than those Group Benefits Employees who are Shared Employees, dedicates all or substantially all of his
or her business working time to the Group Benefits Business. Each Shared Employee dedicates all or substantially all of his or her business working time to the Group Benefits Business and the Life Business, and to the Knowledge of Sellers, each
Shared Employee dedicates more than fifty percent (50%)&nbsp;of his or her business working time to the Group Benefits Business. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(e)
Section&nbsp;4.27(e) of the Sellers Disclosure Schedule (the &#147;<U>Sellers Equity Award Schedule</U>&#148;) sets forth a true, complete and correct list of each compensatory Restricted Unit with respect to an Executive Partnership Unit of LMGI
granted under the LMGI Executive Partnership Deferred Compensation Plan (&#147;<U>LMGI RU</U>&#148;) and each compensatory Appreciation Unit with respect to an Executive Partnership Unit of LMGI granted under the LMGI Executive Partnership Plan
(&#147;<U>LMGI AU</U>&#148; and, together with the LMGI RUs, the &#147;<U>Sellers Equity Awards</U>&#148;) held by a Group Benefits Employee that is outstanding as of the date hereof, specifying, on a holder-by-holder basis, (i)&nbsp;the number of
units subject to each such Sellers Equity Award, (ii)&nbsp;the grant date of each such Sellers Equity Award, (iii)&nbsp;the vesting schedule of each such Sellers Equity Award, and (iv)&nbsp;the fair market value as of the date hereof of each Sellers
Equity Award. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Section&nbsp;4.28 <U>Policy ERISA Matters</U>. None of the underlying assets of the Company Policies or related Contracts
held by the Transferred Companies constitute assets subject to ERISA or Section&nbsp;4975 of the Code. To the extent that a Transferred Company is a fiduciary or other service provider with respect to any Company Policy or related Contract, such
Transferred Company is in material compliance with ERISA, including with respect to compliance with claims procedures, providing information required pursuant to 25 CFR 2550.408b-2 and information reasonably necessary with respect to IRS Form 5500.
None of the Transferred Companies has engaged in any nonexempt prohibited transaction under Section&nbsp;406 of ERISA or Section&nbsp;4975 of the Code with respect to any Company Policy or related Contract that would be expected to result in any
material liability to any Transferred Company or Purchaser or its Affiliates, and to the Knowledge of Sellers, there is no fee or other compensation arrangement with respect to any Company Policy or related Contract that has given rise or is
reasonably likely to give rise to a nonexempt prohibited transaction under Section&nbsp;406 of ERISA or Section&nbsp;4975 of the Code. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Section&nbsp;4.29 <U>Real Property</U>. The Transferred Companies do not own any real property, except for real estate Investment Assets. </P>

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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Section&nbsp;4.30 <U>Rating Agencies</U>. As of the close of business on the Business Day
immediately preceding the date of this Agreement, to the Knowledge of Sellers, the Company has been assigned a financial strength rating of &#147;A&#148; by A.M. Best and &#147;A&#148; by Standard&nbsp;&amp; Poor&#146;s, in each case, as indicated
in the most recent publicly available applicable report published by each rating agency prior to the date hereof. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Section&nbsp;4.31
<U>Organizational Documents</U>. Sellers have Made Available to Purchaser copies of the charter, by-laws or other organizational documents of the Transferred Companies and the corporate minute books of the Transferred Companies. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Section&nbsp;4.32 <U>Article&nbsp;V Representations</U>. Sellers hereby represent and warrant to Purchaser, as of the date hereof and as of
the Closing Date, each of the representations and warranties set forth in <U>Article&nbsp;V</U> with the same effect as if such representations and warranties were included in this <U>Section&nbsp;4.32</U>, subject, in each case, to any item set
forth in a section or subsection of the Sellers Disclosure Schedule corresponding to such representation and warranty as set forth in <U>Article&nbsp;V</U>, with the same effect as if such disclosure were included in Section&nbsp;4.32 of the Sellers
Disclosure Schedule, and without limitation of the understanding that any matter disclosed in the Sellers Disclosure Schedule shall be deemed disclosed with respect to any representation or warranty to which the relevance of such matter is
reasonably apparent on its face. </P> <P STYLE="margin-top:24pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>ARTICLE&nbsp;V </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>SELLERS&#146; REPRESENTATIONS AND WARRANTIES TO REINSURER </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Except as set forth in the corresponding section or subsections of the Sellers Disclosure Schedule (it being understood that any matter
disclosed in such disclosure schedules shall be deemed disclosed with respect to any section of this <U>Article&nbsp;V</U> to which the relevance of such matter is reasonably apparent on its face) (each, as to itself and as to the Transferred
Companies and the Transferred Businesses), Sellers hereby represent and warrant to Reinsurer, as of the date hereof and as of the Closing Date, as follows: </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Section&nbsp;5.01 <U>Acquired Life Assets</U>. Sellers or one or more of their Affiliates are the record and beneficial owner of, and hold,
good and valid title to, or have valid and binding leases, licenses or rights to use the Acquired Life Assets, in each case, free and clear of any Encumbrances, except for Permitted Encumbrances and Encumbrances arising from acts of Reinsurer. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Section&nbsp;5.02 <U>Compliance with Law; Life Permits</U>. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(a) Each Transferred Company is, and Sellers and their respective Affiliates with respect to the Life Business are, and the operation of the
Life Business, is, and at all times since June&nbsp;30, 2015 each of the foregoing has been, in compliance with all applicable Laws in all material respects. Since June&nbsp;30, 2015, none of Sellers or their respective Affiliates (including the
Transferred Companies) has received any written notice of any actual or alleged material violation of, or failure to comply in any material respect with, applicable Law with respect to the operation of the Life Business as conducted by the
Transferred Companies. </P>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(b) Since June&nbsp;30, 2015, each of the Transferred Companies (i)&nbsp;has held and maintained
in full force and effect all material Permits necessary (A)&nbsp;for the operation and conduct of the Life Business and (B)&nbsp;to own or use its assets and properties as the same are or have been owned and used, in each case, in each of the
jurisdictions in which such business has been operated and conducted (such material Permits, the &#147;<U>Life Permits</U>&#148;), (ii)&nbsp;has been in compliance in all material respects with all Life Permits, (iii)&nbsp;has not received any
written notice from any Governmental Authority regarding any actual, alleged or potential material violation of, or material failure to comply with, the terms or requirements of any Life Permit and (iv)&nbsp;is not subject to any action (pending or,
to the Knowledge of Sellers, threatened) seeking the revocation, withdrawal, suspension, termination, cancellation, nonrenewal, modification or impairment of any Life Permit. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Section&nbsp;5.03 <U>Company Financial Statements</U>. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(a) Sellers have timely filed with the applicable Governmental Authorities, and Made Available to Reinsurer true, complete and correct copies
of the Company Financial Statements. The Company Financial Statements (i)&nbsp;were derived from the Books and Records and are materially consistent with the Books and Records from which they were derived, (ii)&nbsp;were prepared in accordance with
SAP consistently applied during the periods involved, and (iii)&nbsp;present fairly, in all material respects, the statutory financial position, admitted assets, liabilities and capital and surplus of the Company at their respective dates, and the
statutory results of operations, changes in surplus, and cash flows of the Company for the periods covered thereby, subject to normal year-end adjustments. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(b) Sellers have Made Available to Reinsurer true, complete and correct copies of (i)&nbsp;the unaudited statement of assets and liabilities of
the Company with respect to the Life Business as of December&nbsp;31, 2016 and September&nbsp;30, 2017 (together, the &#147;<U>Life Statements of Assets and Liabilities</U>&#148;). The Life Statements of Assets and Liabilities (A)&nbsp;were derived
from the Life Books and Records, (B)&nbsp;are materially consistent with the Life Books and Records from which they were derived and (C)&nbsp;with respect to the line items thereof, were prepared in accordance with SAP consistently applied during
the periods involved. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(c) The reserves for the payment of benefits, losses, claims, contingent obligations, unearned premium and expenses
under the Reinsured Contracts, and related liability amounts, reflected on the Company Financial Statements and the Life Statements of Assets and Liabilities, in each case, as at September&nbsp;30, 2017, have been calculated (i)&nbsp;in accordance
with the terms and conditions of the Reinsured Contracts, (ii)&nbsp;in accordance with SAP consistently applied during the periods involved and applicable Law, (iii)&nbsp;based on actuarial assumptions that were reasonable in relation to provisions
of the relevant Reinsured Contracts and (iv)&nbsp;in a manner consistent with the methodologies used by Sellers and their Affiliates in calculating such reserves and liabilities for the purposes of the most recent (as of the date hereof) quarterly
statutory financial statement of the Company, consistently applied; <U>provided</U>, <U>however</U>, nothing in this <U>Section&nbsp;5.03(c)</U> shall be deemed a representation or warranty as to the adequacy or sufficiency of reserves or the effect
of the adequacy or sufficiency of reserves on any line item, asset, Liability or equity amount on any financial or other document including the Final Statement of Net Settlement. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">80 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(d) Section&nbsp;5.03(d)(i) of the Sellers Disclosure Schedule sets forth a list of all permitted
accounting practices utilized in the preparation of the Company Financial Statements and the Life Statements of Assets and Liabilities. Section&nbsp;5.03(d)(ii) of the Sellers Disclosure Schedule sets forth a list of all deficiencies or required
adjustments with respect to the Life Statements of Assets and Liabilities that have been asserted by any applicable Governmental Authority since June&nbsp;30, 2015, and each such deficiency or adjustment has been cured or otherwise resolved to the
satisfaction of such Governmental Authority. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(e) The files provided by Sellers to Reinsurer in a disc on January&nbsp;18, 2018
(collectively, the &#147;<U>Seriatim File</U>&#148;) contain a true, correct and complete list of all Reinsured Contracts as of September&nbsp;30, 2017 (except, in the case of the Seriatim File, but not the updated Seriatim File or the Post-Closing
Seriatim File, with respect to &#147;Integrity OYT&#148;, which is as of October&nbsp;31, 2017 and &#147;Integrity SPWL&#148;, which is as of December&nbsp;31, 2016) and of the attributes of such policies set forth on Section&nbsp;5.03(e) of the
Sellers Disclosure Schedule, in each case, to the extent applicable. The updated Seriatim File (the &#147;<U>Updated Seriatim File</U>&#148;) to be provided by Sellers to Reinsurer at Closing will contain a true, correct and complete list of all
Reinsured Contracts as of the last day of the immediately preceding calendar month that is at least ten (10)&nbsp;days prior to the Closing Date, and of the attributes of such policies set forth in Section&nbsp;5.03(e) of the Sellers Disclosure
Schedule, in each case, to the extent applicable. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(f) The Books and Records relating primarily to the Life Business (i)&nbsp;have been
maintained in all material respects in accordance with applicable Law and (ii)&nbsp;are in material compliance with any and all applicable legally and contractually required record keeping maintenance requirements. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Section&nbsp;5.04 <U>Internal Controls</U>. The Company has established and maintained a system of internal accounting controls with respect
to its business sufficient to provide reasonable assurances regarding the reliability of financial reporting and the preparation of financial statements in accordance with SAP and applicable Law, including that: (a)&nbsp;transactions are executed
according to management&#146;s general or specific authorization; (b)&nbsp;transactions are recorded as necessary to permit the preparation of financial statements in conformity with SAP and to maintain accountability for assets; (c)&nbsp;access to
the Company&#146;s assets is permitted only in accordance with management&#146;s general or specific authorization; and (d)&nbsp;recorded accountability for assets is compared with the existing assets at reasonable intervals and appropriate action
is taken with respect to any differences. Sellers do not have, and have not had at any time since June&nbsp;30, 2015, any significant deficiencies or material weaknesses in the design or operation of internal control over financial reporting of the
Company. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Section&nbsp;5.05 <U>No Undisclosed Liabilities</U>. The Life Business does not have any Liabilities except (a)&nbsp;those
Liabilities reflected or reserved in the Life Statement of Assets and Liabilities as of September&nbsp;30, 2017, (b)&nbsp;Liabilities recaptured from St. James pursuant to the commutation agreements included in the Restructuring Agreements,
(c)&nbsp;Liabilities disclosed in Section&nbsp;5.05 of the Sellers Disclosure Schedule, (d)&nbsp;Liabilities incurred in the ordinary course of business since September&nbsp;30, 2017 that are not material to the Life Business, (e)&nbsp;Liabilities
incurred in connection with the transactions contemplated by this Agreement or the Ancillary Agreements (including under the terms of the Restructuring Agreements) and (f)&nbsp;Liabilities arising under the terms of the In-Force Life and Annuity
Policies; <U>provided</U>, <U>however</U>, nothing in this <U>Section&nbsp;5.05</U> shall be deemed a representation or warranty as to adequacy or sufficiency of reserves or the effect of the adequacy or sufficiency of reserves on any line item,
asset, Liability or equity amount on any financial or other document. </P>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Section&nbsp;5.06 <U>Litigation; Orders</U>. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(a) There are no Actions or arbitration proceedings pending or, to the Knowledge of Sellers, threatened in writing with respect to the Life
Business (or, in the case of clause (iii), Orders) (i)&nbsp;against any Transferred Company (or in which a Transferred Company is otherwise a party) or any assets, properties, rights or privileges of a Transferred Company (other than ordinary course
claims litigation in connection with In-Force Life and Annuity Policies), (ii)&nbsp;against Sellers or any of their Affiliates (other than the Transferred Companies), or in which Sellers or any of Sellers&#146; Affiliates is otherwise a party, or
any of their respective assets, properties, rights or privileges, solely to the extent related to the Transferred Businesses, which in the case of clauses&nbsp;(i) and (ii), are pending or threatened in writing and which would, individually or in
the aggregate, reasonably be material to the Transferred Companies, taken as a whole, or (iii)&nbsp;which would be reasonably likely to prohibit or restrain the ability of Sellers or the Transferred Companies to consummate the transactions
contemplated hereby. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(b) There are no outstanding Orders against or involving a Transferred Company or the Life Business by or before any
Governmental Authority which would, individually or in the aggregate, reasonably be expected to be material to the Life Business, taken as a whole. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Section&nbsp;5.07 <U>Absence of Certain Changes and Events</U>. Since September&nbsp;30, 2017 to the date hereof, there has not been any
action taken by Sellers or their Affiliates that, if taken during the period from and after the date hereof and prior to the Closing, would require Reinsurer&#146;s consent pursuant to <U>Sections 8.01(a)(i)</U>, <U>(v)</U>, <U>(viii), (xii)(A)</U>,
<U>(xii)(B)</U>, <U>(xxi)</U>&nbsp;and <U>(xxii)</U>&nbsp;(solely to the extent applicable to the subsections of <U>Section&nbsp;8.01(a)</U> referenced in this <U>Section&nbsp;5.07</U>) (subject in each case to the proviso in
<U>Section&nbsp;8.01(a)</U>). Since December&nbsp;31, 2016, (a)&nbsp;to the date of this Agreement, the Life Business has been conducted in all material respects in the ordinary course consistent with past practices, and (b)&nbsp;there has not been
any adverse event, change or circumstance that, individually or in the aggregate, has had or would reasonably be expected to have a Material Adverse Effect. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Section&nbsp;5.08 <U>Sufficiency</U>. Except as set forth in Section&nbsp;5.08 of the Sellers Disclosure Schedule, the Acquired Life Assets
and the Transferred Life Employees and the other assets, rights, properties, employees and services made available to Reinsurer pursuant to this Agreement, the Reinsurer Transition Services Agreement and the Ancillary Agreements will, in the
aggregate, as of the Closing, comprise all assets, rights, properties, employees and services that are necessary to permit Reinsurer to administer the In-Force Life and Annuity Policies immediately following the Closing Date in substantially the
same manner as the In-Force Life and Annuity Policies are being administered as of the date hereof. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">82 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Section&nbsp;5.09 <U>Reinsured Contracts</U>. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(a) Since June&nbsp;30, 2015, the In-Force Life and Annuity Policies have been, to the extent required under applicable Law, on forms and at
rates, approved by applicable Governmental Authorities or filed and not objected to by such Governmental Authorities within the period provided for objection, in each case except as would not, individually or in the aggregate, reasonably be expected
to be material to the Life Business, taken as a whole. To the Knowledge of Sellers, no material deficiencies have been asserted by any Governmental Authority with respect to any such filings which have not been cured or otherwise resolved. All
In-Force Life and Annuity Policies and all such policy and contract forms, amendments and applications and rates, comply with, and have been sold, issued, maintained and administered in accordance with, applicable Law in all material respects. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(b) The Company has paid all material guaranty fund assessments that have been due, claimed or asserted by, or that are the subject of any
voluntary contribution commitment to, any state guaranty fund or association or any Governmental Authority charged with the supervision of insurance companies in any jurisdiction in which the Company does business. Except for regular periodic
assessments in the ordinary course of business, assessments based on developments that are publicly known within the insurance industry or such assessments as would not, individually or in the aggregate, be material to the Life Business, taken as a
whole, no claim or assessment against the Transferred Companies is pending or, to the Knowledge of Sellers, threatened against the Transferred Companies in writing, by any state insurance guaranty association in connection with such
association&#146;s fund relating to insolvent insurers, and since June&nbsp;30, 2015, neither Sellers nor their Affiliates have received written notice of any such claim or assessment. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(c) All benefits payable (including by credit) to any Person under any In-Force Life and Annuity Policy have in all material respects been paid
or credited (or provision as required under SAP for payment thereof has been made) in accordance with the terms of the applicable In-Force Life and Annuity Policy, and such payments, credits or provisions were not materially delinquent, except for
any such claim for benefits for which the Company reasonably believes or believed there is or was a good faith basis to contest payment. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(d) Sellers have Made Available to Reinsurer the Company&#146;s SSDMF-related protocols (the &#147;<U>SSDMF Methodologies</U>&#148;) and their
effective dates, which the Company uses to determine the payment of life insurance benefits, annuity benefits, account values or other benefits and amounts under the life insurance policies and annuity contracts that are included in the Life
Business. The Company administers such policies and contracts in accordance with the SSDMF Methodologies. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Section&nbsp;5.10 <U>Assigned
Life Contracts</U>. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(a) Assuming due authorization, execution and delivery thereof by the other party or parties thereto, as of the date
hereof, (i)&nbsp;each Assigned Life Contract is a valid and binding obligation of a Seller or an Affiliate of Sellers party thereto (including any applicable Transferred Company) and, to the Knowledge of Sellers, each other party or parties thereto,
in accordance with its terms and is in full force and effect, subject to the Enforceability Exceptions, (ii)&nbsp;Sellers or their Affiliates party thereto (including any applicable Transferred Company) are not and, to the Knowledge of Sellers, no
other party thereto is (or, with the giving or notice or lapse of time or both will be) in default in the performance, observance or fulfillment of any obligation, covenant or condition contained in an Assigned Life Contract and (iii)&nbsp;no event
has </P>
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occurred that, with or without notice, the passage of time or both, would constitute a violation, breach or default by Sellers or any of their Affiliates or, to the Knowledge of Sellers, any
other party thereto under an Assigned Life Contract, except, with respect to the foregoing clauses&nbsp;(i), (ii)&nbsp;and (iii), where such failures to be valid and binding and in full force and effect and such defaults would not, individually or
in the aggregate, reasonably be expected to be material to the Life Business, taken as a whole. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(b) Sellers have Made Available to
Reinsurer true, complete and correct copies of each Assigned Life Contract. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Section&nbsp;5.11 <U>Life Appraisal</U>. Sellers have Made
Available to Reinsurer true, complete and correct copies of the actuarial report prepared by the Specified Actuary with respect to the Life Business, dated July&nbsp;19, 2017 (the &#147;<U>Life Actuarial Report</U>&#148;), and all attachments,
addenda, supplements and modifications thereto. The factual information and data furnished by Sellers and their respective Affiliates in writing to Specified Actuary for its use in connection with the preparation of the Life Actuarial Report were
(a)&nbsp;derived from the Life Books and Records, (b)&nbsp;generated from the same underlying sources and systems that were utilized to prepare the Life Statement of Assets and Liabilities and (c)&nbsp;correct in all material respects as of the date
provided. As of the date hereof, the Specified Actuary has not issued any new or revised report with respect to the Life Business or any errata with respect to the Life Actuarial Report nor has it notified Sellers or any of their Affiliates that the
Life Actuarial Report is inaccurate. Notwithstanding the foregoing, Sellers do not guarantee the projected results included in the Life Actuarial Report or make any representation or warranty in this <U>Section&nbsp;5.11</U> or in any other
provision of this Agreement (x)&nbsp;with respect to any assumption in the Life Actuarial Report (including, as to future mortality, policyholder behavior, investment experience and other actuarial factors with respect to the Life Business or its
associated Liabilities), or (y)&nbsp;to the effect that the projected profits set forth in the Life Actuarial Report will be realized. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Section&nbsp;5.12 <U>Insurance Regulatory Matters</U>. Since June&nbsp;30, 2015, (a)&nbsp;the Company has filed all material reports,
statements, registrations, filings, notices or submissions required to be filed or otherwise submitted by the Company with any Governmental Authority responsible for the regulation of insurance companies in connection with the Life Business,
(b)&nbsp;all such reports, statements, registrations, filings, notices or submissions were timely filed and complied in all material respects with applicable Law when filed or as amended or supplemented and (c)&nbsp;no deficiencies or violations
have been asserted in writing by such Governmental Authority with respect to such reports, statements, registrations, filings, or submissions that have not been, to the Knowledge of Sellers, resolved to the satisfaction of the applicable
Governmental Authority. The Company is not deemed to be &#147;commercially domiciled&#148; under the Laws of any jurisdiction and is not otherwise treated as domiciled in a jurisdiction other than the State of New Hampshire. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Section&nbsp;5.13 <U>Examinations</U>. Sellers have Made Available to Reinsurer true, complete and correct copies of all material examination
reports and market conduct reports of any Governmental Authority with respect to the Life Business received by them or an Affiliate of Sellers on or after June&nbsp;30, 2015 and prior to the date hereof. All material deficiencies or violations noted
in such examination reports have been, to the Knowledge of Sellers, cured or resolved to the satisfaction of the applicable Governmental Authority. Section&nbsp;5.13 of the Sellers Disclosure Schedule sets forth a true, complete and correct list of
any ongoing examinations of any Governmental Authority with respect to the Life Business. </P>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Section&nbsp;5.14 <U>Sales Practices</U>. Except as set forth in <U>Section&nbsp;5.14</U> of the
Sellers Disclosure Schedule, the Company, each of the brokers, insurance agents, producers, distributors or other Persons who market, produce or service the In-Force Life and Annuity Policies, or any successors thereto (each, a &#147;<U>Life
Distributor</U>&#148;) that is an Affiliate of the Sellers and, to the Knowledge of Sellers, each Life Distributor that is not an Affiliate of the Sellers, are and have been since June&nbsp;30, 2015, in connection with the Life Business, in
compliance in all material respects with all applicable Laws regulating the marketing and sale of such In-Force Life and Annuity Policies, regulating advertisements or illustrations, requiring mandatory disclosure of policy information, requiring
employment of standards to determine if the purchase of an In-Force Life and Annuity Policy is suitable for an applicant, prohibiting the use of unfair methods of competition and deceptive acts or practices and regulating replacement transactions
involving In-Force Life and Annuity Policies. For purposes of this <U>Section&nbsp;5.14</U>, (i)&nbsp;&#147;advertisement&#148; means any material designed to create public interest in an In-Force Life and Annuity Policy or in the Company with
respect to the Life Business, or in a Life Distributor with respect to the In-Force Life and Annuity Policies, or to induce the public to purchase, increase, modify, reinstate, borrow on, surrender, replace or retain such a policy or contract to the
extent relating to the Life Business, and &#147;replacement transaction&#148; means a transaction in which a new In-Force Life and Annuity Policy is to be purchased by a prospective insured and the proposing Life Distributor knows or should know
that one or more existing life insurance policies or annuity contracts will lapse, or will be forfeited, surrendered, reduced in value or pledged as collateral. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Section&nbsp;5.15 <U>Reinsurance</U>. Section&nbsp;5.15 of the Sellers Disclosure Schedule sets forth a true, complete and correct list, as of
the date of this Agreement, of each Life Reinsurance Contract. True, correct and complete copies of each Life Reinsurance Contract (including, in each case, all amendments and addenda thereto) have been Made Available to Reinsurer. Assuming due
authorization, execution and delivery thereof by the other party or parties thereto, as of the date of this Agreement, (a)&nbsp;each Life Reinsurance Contract is a valid and binding obligation of the Company and, to the Knowledge of Sellers, each
other party or parties thereto, in accordance with its terms and is in full force and effect, subject to the Enforceability Exceptions, (b)&nbsp;the Company is not and, to the Knowledge of Sellers, no other party thereto is (or, with the giving of
notice or the lapse of time or both, will be) in default in the performance, observance or fulfillment of any obligation, covenant or condition contained in any Life Reinsurance Contract and (c)&nbsp;no event has occurred that, with or without
notice, the passage of time or both, would constitute a violation, breach or default by the Company or, to the Knowledge of Sellers, any other party thereto under any Life Reinsurance Contract, except, with respect to the foregoing clauses&nbsp;(a),
(b)&nbsp;and (c), where such failures to be valid and binding and in full force and effect and such defaults would not, individually or in the aggregate, reasonably be expected to be material to the Life Business, taken as a whole. To the Knowledge
of Sellers, no other party to any Life Reinsurance Contract is the subject of a rehabilitation, liquidation, conservatorship, receivership, bankruptcy or similar proceeding. No Life Reinsurance Contract contains triggers that would allow the
counterparty to terminate such Life Reinsurance Contract based on a ratings downgrade of the Company below certain minimum ratings issued by a credit rating agency or a reduction in the Company&#146;s capital and surplus below a certain level. As of
the date hereof, no party to any Life Reinsurance Contract has given written notice of </P>
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termination (provisional or otherwise) under any Life Reinsurance Contract. From December&nbsp;31, 2016 to the date hereof, (i)&nbsp;Sellers and their Affiliates have not received any written or,
to the Knowledge of Sellers, oral notice of any actual or proposed increase in the rate payable under any Reinsurance Contract, and (ii)&nbsp;no such increase has occurred. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Section&nbsp;5.16 <U>Policy Tax Matters</U>. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(a) Sellers and the Company monitor the Reinsured Contracts for compliance with their intended Tax treatment under the Code, including
monitoring the Reinsured Contracts for treatment as &#147;modified endowment contracts,&#148; and the Reinsured Contracts satisfy the applicable requirements for such Tax treatment in all material respects. All of the Reinsured Contracts are subject
to Section&nbsp;848(a) and 848(c)(1)(C) of the Code. For purposes of this <U>Section&nbsp;5.16</U>, the provisions of applicable Law relating to Tax treatment of the Reinsured Contracts shall include, but not be limited to, Sections 72, 101, 817,
7702, 7702A and 7702B of the Code. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(b) Sellers and the Company have complied in all material respects with all Tax reporting, withholding,
and disclosure requirements that are applicable to the Reinsured Contracts and have reported, in all material respects, all distributions under such Reinsured Contracts in accordance with all applicable requirements of the Code, Treasury Regulations
and forms issued by the IRS. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(c) Each Reinsured Contract provides, and since the date of issuance, assumption, exchange, modification or
purchase of such Reinsured Contract has provided, the purchaser, policyholder, account holder, other holder or intended beneficiary thereof with Tax treatment under the Code that is, in all material respects, the same as or more favorable than the
Tax treatment (i)&nbsp;that was purported to apply in materials provided at the time of issuance, assumption, exchange, modification or purchase or (ii)&nbsp;for which such policies or contracts were intended or reasonably expected to qualify under
the Code at the time of issuance, assumption, exchange, modification or purchase. Each Reinsured Contract that is subject to Section&nbsp;7702 of the Code satisfies in all material respects the requirements of Section&nbsp;7702(a) of the Code and
otherwise qualifies as a &#147;life insurance contract&#148; for purposes of the Code. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(d) No Reinsured Contract constitutes a
&#147;modified endowment contract&#148; within the meaning of Section&nbsp;7702A of the Code. The Company has received signed acknowledgments substantially in the form of the acknowledgment that was Made Available in subfolder 10.243 of the folder
&#147;Providence Individual&#148; of the Electronic Data Room from the applicable policyholder of each Reinsured Contract of the type described on Section&nbsp;4.19(d) of the Sellers Disclosure Schedule (other than the &#147;Inadvertent MECs&#148;
as defined therein). </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(e) The Company is treated for U.S. federal income Tax purposes as the owner of the assets underlying the Reinsured
Contracts. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(f) None of the Sellers or the Company are parties to any &#147;hold harmless,&#148; Tax sharing or indemnification agreements
regarding the Tax qualification or the Tax treatment of the Reinsured Contracts (whether developed by, administered by, or reinsured with any unrelated third party). </P>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(g) There is no currently pending (i)&nbsp;U.S. federal, state, local, or foreign audit or other
administrative proceeding by any Taxing Authority or (ii)&nbsp;judicial proceeding, in either case against Sellers or the Company or, to the Knowledge of Sellers, against any other party, regarding material Taxes with respect to the Tax treatment of
any Reinsured Contract. None of Sellers or the Company has requested or is subject to a ruling or waiver with respect to any material potential or actual failure of any Reinsured Contract to meet any applicable requirements of the Code or any
Treasury Regulations or administrative guidance issued thereunder that would have continuing effect or be binding for periods (or portions thereof) ending after the Balance Sheet Date. None of Sellers or the Company have entered into any material
settlement agreement, closing agreement or other agreement with any Taxing Authority with respect to any potential or actual failure of any Reinsured Contract to meet any applicable requirements of the Code or any Treasury Regulations or
administrative guidance issued thereunder which agreement would have continuing effect or be binding for periods (or portions thereof) ending after the Balance Sheet Date, and none of Sellers or the Company are currently involved in any discussions
or negotiations with any Taxing Authority regarding any such agreement or request. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(h) None of Sellers or the Company have requested
relief from any Taxing Authority concerning the qualification of any Reinsured Contract under the Code, and no Taxing Authority has asserted in writing to Sellers or the Company that any Reinsured Contract fails to so qualify. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(i) Each &#147;segregated asset account,&#148; within the meaning of Section&nbsp;817(h) of the Code, maintained by the Company with respect to
the Reinsured Contracts meets, and since the establishment of such account has met, the diversification requirements of Section&nbsp;817(h) of the Code and the Treasury Regulations promulgated thereunder, and otherwise satisfies in all material
respects the requirements of the Code, the Treasury Regulations, and administrative guidance issued thereunder. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(j) Each holder of a
BOLI/COLI Contract (other than Excluded BOLI/COLI Contracts) (i)&nbsp;had, at the time of issuance of such BOLI/COLI Contract, a valid insurable interest under applicable Law in each insured life under such BOLI/COLI Contract and (ii)&nbsp;to the
Knowledge of Sellers, has a valid insurable interest under applicable Law in each insured life under such BOLI/COLI Contract. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(k)
Notwithstanding any other representation or warranty in this Agreement to the contrary, the representations and warranties in this <U>Section&nbsp;5.16</U> and, solely to the extent relating to Taxes, <U>Section&nbsp;5.07</U> and
<U>Section&nbsp;5.20</U>(d) constitute the sole and exclusive representations and warranties of Sellers to Reinsurer with respect to Taxes. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Section&nbsp;5.17 <U>Life Investment Assets</U>. Section&nbsp;5.17(a) of the Sellers Disclosure Schedule sets forth a true, complete and
correct list of all Investment Assets (other than Investment Assets held in the Life Separate Accounts or, for the avoidance of doubt, the COLI Investment Assets) held in respect of the Reinsured Contracts as at January&nbsp;11, 2018 (except with
respect to the Specified Investment Assets, which are as at December&nbsp;31, 2017). The Company, or a trustee acting on the Company&#146;s behalf, has good and valid title to all such Life Investment Assets it purports to own, free and clear of all
Encumbrances other than Permitted Encumbrances. Since June&nbsp;30, 2015, the Company has managed the Investment Assets then held by the Company in accordance with the Investment Guidelines. As of January&nbsp;11, 2018, none of the Life Investment
Assets then held by the Company are subject to any Liabilities to fund any capital calls or capital commitments or similar obligations. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">87 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Section&nbsp;5.18 <U>Life Intellectual Property</U>. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(a) Section&nbsp;5.18(a) of the Sellers Disclosure Schedule sets forth a true, complete and correct list, as of the date of this Agreement, of
all U.S. and foreign (i)&nbsp;patents, including all reissues, divisions, renewals, extensions, provisionals, continuations and continuations-in-part thereof, and patent applications, (ii)&nbsp;Trademark registrations and pending Trademark
applications (including all renewals and intent-to-use applications thereof) and (iii)&nbsp;copyright registrations and applications, in each case owned by Sellers or their Affiliates that are included in the Transferred Life Intellectual Property.
Sellers and their Affiliates are the exclusive and, if applicable, record owners of the material Transferred Life Intellectual Property, free and clear of all Encumbrances other than Permitted Encumbrances. As of the Closing Date, the Transferred
Companies will be the exclusive owners of the material Transferred Life Intellectual Property, free and clear of all Encumbrances other than Permitted Encumbrances. The Transferred Life Intellectual Property listed on Section&nbsp;5.18(a) of the
Sellers Disclosure Schedule is subsisting and, to the Knowledge of Sellers, the Transferred Life Intellectual Property listed on Section&nbsp;5.18(a) of the Sellers Disclosure Schedule and all other material Transferred Life Intellectual Property is
valid and enforceable. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(b) To the Knowledge of Sellers, the conduct of the Life Business as currently conducted does not infringe,
misappropriate, dilute, breach or otherwise violate any Person&#146;s Intellectual Property. To the Knowledge of Sellers, since June&nbsp;30, 2015, no Person has infringed, misappropriated, diluted or otherwise violated, or is infringing,
misappropriating, diluting or otherwise violating, any of the Transferred Life Intellectual Property. No such claims are pending or threatened in writing against any Person by Sellers or any of their Affiliates. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(c) Sellers and their Affiliates (including the Transferred Companies) have taken all actions reasonably necessary to maintain the
enforceability of the material Transferred Life Intellectual Property (including (i)&nbsp;making and maintaining in full force and effect all necessary filings, registrations and issuances with respect to the material Transferred Life Intellectual
Property that is, the subject of a registration or pending application and (ii)&nbsp;maintaining the secrecy of all material confidential Intellectual Property used in the Life Business). </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Section&nbsp;5.19 <U>Data Protection; IT Systems</U>. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(a) Except as would not, individually or in the aggregate, be material to the Transferred Companies, taken as a whole, the Life Business is,
and has since June&nbsp;30, 2015 been, in compliance with the Transferred Companies&#146; respective publicly distributed policies and any contractual requirements, including applicable terms of use and external-facing privacy policies, pertaining
to the protection, privacy, security, collection, storage, use, disclosure, disposal, maintenance and transmission of Personal Information. To the Knowledge of Sellers, since June&nbsp;30, 2015, none of Sellers and their Affiliates, or, to the
Knowledge of Sellers, any third Person working on behalf of any of them, has experienced an incident of unauthorized access, disclosure, use, destruction or loss of any Personal Information that Sellers or their Affiliates (or a third Person on
behalf of any of them) collects, stores, uses or transmits in the conduct of the Life Business that by Law required the delivery of notice to affected individuals pursuant to Laws pertaining to privacy and data security. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">88 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(b) Since June&nbsp;30, 2015, there have been no disruptions or defects in the information
technology systems used in the Life Business that materially adversely affected the operations of the Life Business other than disruptions or defects which have been repaired or resolved. To the Knowledge of Sellers, none of any information
technology systems included in the Acquired Life Assets contain any viruses, back doors, trap doors, Trojan horses and other malicious or destructive code or software routines that may, or may be used to, permit unauthorized access to software,
hardware or data related to the Life Business, or modify, delete, damage, disable, erase, interrupt, interfere with or otherwise harm the same, or that would reasonably be expected to interfere with the ability of Purchaser or Reinsurer to conduct
the Life Business. Sellers and their Affiliates have implemented, maintain, and comply with commercially reasonable business continuity and backup and disaster recovery plans and procedures with respect to the information technology systems owned by
Sellers or their Affiliates and used in the Life Business and direct third parties operating information technology systems that are material to the operation of the Life Business to maintain commercially reasonable business continuity and backup
and disaster recovery plans and procedures with respect to such systems. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Section&nbsp;5.20 <U>Life Plans</U>. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(a) Section&nbsp;5.20(a) of the Sellers Disclosure Schedule contains a true, complete and correct list of all material Life Plans. With respect
to each such Life Plan, Sellers have provided or Made Available to Reinsurer (where applicable) true, complete and correct copies of all material plan documents or summary plan descriptions, and any material amendments and modifications related
thereto. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(b) Each Life Plan intended to be qualified under Section&nbsp;401(a) of the Code, and the trust (if any) forming a part thereof,
has received a favorable determination or opinion letter from the IRS and, to the Knowledge of Sellers, except as set forth in Section&nbsp;5.20(b) of the Sellers Disclosure Schedule, there are no existing circumstances or events that would
reasonably be expected to adversely affect the qualified status of any such Life Plan. Except as would not, individually or in the aggregate, reasonably be expected to result in a material Liability to Reinsurer or its Affiliates, (i)&nbsp;each Life
Plan has been operated in compliance with the terms of such Life Plan and applicable Law, (ii)&nbsp;all contributions required to be made to any Life Plan by applicable Law or by any plan document or other contractual undertaking, and all premiums
due or payable with respect to insurance policies funding any Life Plan, have been timely made or paid in full, and (iii)&nbsp;there are no pending or, to the Knowledge of Sellers, threatened claims (other than routine claims for benefits) by, on
behalf of or against any of the Life Plans or any trusts related thereto. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(c) No Liability under Title&nbsp;IV of ERISA has been incurred
by Sellers or any ERISA Affiliate that has not been satisfied in full and no event has occurred and no condition exists that could reasonably be expected to result in Sellers or any ERISA Affiliate or, following the Closing, Reinsurer or its
Affiliates, incurring a Liability under Title&nbsp;IV of ERISA, other than with respect to Sellers and their Affiliates, Liability for premiums due the Pension Benefit Guaranty Corporation (which premiums have been paid when due). </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">89 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(d) Except as specifically contemplated by this Agreement, the execution, delivery and
performance of this Agreement and the consummation of the transactions contemplated by this Agreement will not (alone or in combination with any other event) (i)&nbsp;entitle any Life Employee to any severance pay or any other cash payment from
Sellers or their Affiliates or (ii)&nbsp;accelerate the time of payment or vesting of benefits or increase the amount of other compensation due to any Life Employee. No Life Plan provides for, and neither Sellers nor any of their Subsidiaries
otherwise has any obligation to provide, a gross-up or reimbursement of Taxes imposed under Section&nbsp;409A or 4999 of the Code. The consummation of the transactions contemplated by this Agreement will not cause any amounts payable under the Life
Plans to fail to be deductible for U.S. federal income Tax purposes by virtue of Section&nbsp;280G of the Code. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(e) No Life Plan provides
medical, dental or life insurance coverage or any other welfare benefits after termination of employment, other than coverage mandated by COBRA. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Section&nbsp;5.21 <U>Life Producers</U>. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(a) Since June&nbsp;30, 2015, the Transferred Companies have implemented and followed in all material respects programs and policies designed
to provide reasonable assurance that each Life Producer at the time it wrote, marketed, produced, sold, solicited or serviced In-Force Life and Annuity Policies, to the extent required by applicable Law, governmental authorization or contract, was
duly licensed, authorized and appointed (for the respective type of business written, marketed, produced, sold, solicited or serviced by such Life Producer), in each case, in the particular jurisdiction in which such Life Producer wrote, marketed,
produced, sold, solicited or serviced such In-Force Life and Annuity Policies. To the Knowledge of Sellers, no Life Producer is in material violation, or since June&nbsp;30, 2015 has been in material violation, of any Law applicable to the type of
In-Force Life and Annuity Policies written, marketed, produced, sold, solicited or produced by such Life Producer. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(b) Sellers have Made
Available to Reinsurer copies of the standard forms of contracts that govern the basic relationship between each Transferred Company and Life Producers as of the date hereof (each such contract between a Transferred Company and a Life Producer
(other than Life Producers who are employees of the Company or its Affiliates), a &#147;<U>Life Producer Contract</U>&#148;), and no Life Producer Contract between a Transferred Company and any of its top twenty-five (25)&nbsp;Life Producers,
determined by sales of Reinsured Contracts in the year ended December&nbsp;31, 2016, contains any deviations from such forms of contracts that would be material to the applicable Transferred Company as of the date hereof. Except for the Life
Producer Contracts, there are no agreements with the Transferred Companies providing for compensation or indemnification of Life Producers or the provision of financing (whether in form of contract loans or otherwise) to Life Producers that are
material to the Life Business, taken as a whole. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(c) As of the date hereof, there are no outstanding (i)&nbsp;disputes with Life Producers
(other than Life Producers who are employees of the Company or its Affiliates) concerning material amounts of commissions or other incentive compensation, (ii)&nbsp;material errors and </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">90 </P>


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omissions claims against any Life Producers (other than Life Producers who are employees of the Company or its Affiliates) or (iii)&nbsp;material amounts owed by any Life Producer (other than a
Life Producer who is an employee of the Company or its Affiliates) to the Transferred Companies. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Section&nbsp;5.22 <U>Life Labor
Matters</U>. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(a) With respect to the Life Employees, neither Sellers nor any of their Affiliates is a party to any collective bargaining
agreement or other labor-related agreement with any labor union or other organization or group, and there are no labor unions or other organizations or groups representing, purporting to represent and, to the Knowledge of Sellers, there are no
organizational efforts or representation or certification proceedings or petitions seeking a representation proceeding with respect to, any Life Employees relating to their employment with Sellers or their Affiliates. No Life Employee is employed in
a location outside of the United States. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(b) Since June&nbsp;30, 2015, there has not occurred or, to the Knowledge of Sellers, been
threatened any material strike, work stoppage, lockout, arbitration, grievances or unfair labor practice charge with respect to, any Life Employees. With respect to the Life Business, since June&nbsp;30, 2015 Sellers and their Affiliates have been
in compliance, in all material respects, with all Laws regarding employment (including anti-discrimination and anti-retaliation Laws), employment practices (including equal pay, accommodation, and leave Laws), labor, wage and hour, workers&#146;
compensation, and worker classification. Since June&nbsp;30, 2015, Sellers and their Affiliates have complied with the Violent Crime Control and Law Enforcement Act of 1994 in all material respects. Since June&nbsp;30, 2015, Sellers and their
Affiliates have complied in all material respects with all requirements under the Immigration Reform and Control Act of 1986, including the employment verification provisions (including obtaining and retaining the Form I-9 for each Life Employee),
and all Life Employees who work in the United States are legally authorized to work in the United States. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(c) Section&nbsp;5.22(c) of the
Sellers Disclosure Schedule sets forth a true, complete and correct list of each Life Employee and identifies each Life Employee who is an In-Force Service&nbsp;&amp; Maintenance Employee (including Combined Employees), a Life Operations Employee,
and a Life Critical New Business Employee, together with each such Life Employee&#146;s (i)&nbsp;current base salary (or wages), (ii)&nbsp;current year target incentive compensation opportunity, including any commission plan in which such individual
participates, (iii)&nbsp;actual incentive compensation earned during the prior completed fiscal year, (iv)&nbsp;current salary grade level, (v)&nbsp;recognized years of service, (vi)&nbsp;current work location, (vii)&nbsp;current job title,
(viii)&nbsp;current manager&#146;s name and title, (ix)&nbsp;date of hire, (x)&nbsp;current leave status, (xi)&nbsp;exempt or non-exempt status, (xii)&nbsp;full- or part-time status, and (xiii)&nbsp;immigration status and type and duration of visa,
if applicable. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(d) Each In-Force Service&nbsp;&amp; Maintenance Employee, other than a Combined Employee, dedicates all or a majority of
his or her business time to servicing the In-Force Life and Annuity Policies. The In-Force Service&nbsp;&amp; Maintenance Employees constitute all of the employees (when taken together with the services that Seller and its Affiliates will provide
pursuant to the Reinsurer Transition Services Agreement) reasonably necessary to operate the Life Business as currently conducted from and after the Closing Date. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">91 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>ARTICLE&nbsp;VI </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>REPRESENTATIONS AND WARRANTIES OF PURCHASER </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Except as set forth in the corresponding section or subsections of the disclosure schedules delivered by Purchaser to Sellers and Reinsurer
(the &#147;<U>Purchaser Disclosure Schedule</U>&#148;) simultaneously with the execution of this Agreement (it being understood that any matter disclosed in such disclosure schedules shall be deemed disclosed with respect to any section of this
<U>Article&nbsp;VI</U> to which the relevance of such matter is reasonably apparent on its face), Purchaser hereby represents and warrants to Sellers and Reinsurer, as of the date hereof and as of the Closing Date, as follows: </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Section&nbsp;6.01 <U>Incorporation and Authority of Purchaser and Affiliates of Purchaser</U>. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(a) Purchaser is a corporation duly incorporated and validly existing under the Laws of its jurisdiction of incorporation. Each Affiliate of
Purchaser that is party to any Transaction Agreement is a corporation or other legal entity duly incorporated or organized and validly existing under the Laws of the jurisdiction in which it is incorporated or organized. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(b) Purchaser and each Affiliate of Purchaser that is party to any Transaction Agreement has all requisite corporate or other entity power and
authority to enter into, consummate the transactions contemplated by, and carry out its obligations under each of the Transaction Agreements to which it is or will be a party. The execution and delivery by Purchaser and each Affiliate of Purchaser
that is party to any Transaction Agreement of each Transaction Agreement to which it is or will be a party, and the consummation by Purchaser and each Affiliate of Purchaser that is party to any Transaction Agreement of the transactions contemplated
by, and the performance by Purchaser and each Affiliate of Purchaser that is party to any Transaction Agreement of their respective obligations under, such Transaction Agreements have been duly and validly authorized by all requisite corporate
action on the part of Purchaser and each Affiliate of Purchaser that is party to any Transaction Agreement and no additional corporate proceedings on the part of Purchaser or any such Affiliate of Purchaser are necessary to approve or authorize, as
applicable, this Agreement or any Ancillary Agreement, the performance of Purchaser&#146;s or such Affiliate&#146;s obligations hereunder or thereunder or the consummation of the transactions contemplated hereby or thereby. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(c) This Agreement has been duly authorized, executed and delivered by Purchaser, and upon due authorization, execution and delivery of this
Agreement by the other parties hereto, will be the legal, valid and binding obligation of Purchaser, enforceable against Purchaser in accordance with its terms, subject to the Enforceability Exceptions. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(d) At the Closing, each Ancillary Agreement shall, as applicable, be duly authorized, executed and delivered by Purchaser or an Affiliate of
Purchaser party thereto, and upon due authorization, execution and delivery of each such Ancillary Agreement by the other parties thereto, will be the legal, valid and binding obligation of Purchaser or such Affiliates of Purchaser party thereto,
enforceable against Purchaser and each such Affiliate of Purchaser in accordance with its terms, subject to the Enforceability Exceptions. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">92 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Section&nbsp;6.02 <U>Non-Contravention</U>. Assuming the consents, approvals, waivers,
authorizations, notices and filings referred to in <U>Section&nbsp;3.03</U>, <U>Section&nbsp;6.03</U> and <U>Section&nbsp;7.03</U> are obtained or made, as applicable, the execution, delivery and performance of this Agreement and the Ancillary
Agreements by Purchaser or any Affiliate of Purchaser party to any Transaction Agreement, and the consummation by Purchaser and by the Affiliates of Purchaser party to any Transaction Agreements, of the transactions contemplated by the Transaction
Agreements to which Purchaser and such Affiliates of Purchaser are or will be a party do not and will not (a)&nbsp;violate or conflict with the organizational documents of Purchaser or any Affiliates of Purchaser party to any Transaction Agreement,
(b)&nbsp;violate or conflict with any Law or Order applicable to Purchaser, any Affiliate of Purchaser party to any Transaction Agreement or by which any of them or any of their respective properties or assets are bound or subject or (c)&nbsp;result
in any breach of, or constitute a violation or default (or event which, with the giving of notice or lapse of time, or both, would become a default) under, give to any Person any rights of termination, acceleration of remedies, penalty, increase in
benefit payable, forfeiture of, or cancellation of, or result in the creation of any Encumbrance (other than a Permitted Encumbrance) on, any of the assets or properties of Purchaser, or any Affiliate of Purchaser party to any Transaction Agreement,
pursuant to any Permit or material Contract to which Purchaser or any such Affiliate is a party, other than, in the case of clauses&nbsp;(b) and (c), any such conflicts, violations, breaches, defaults, rights or Encumbrances that would not,
individually or in the aggregate, reasonably be expected to materially impair or materially delay the ability of Purchaser to perform its obligations under this Agreement and the other Transaction Agreements, taken as a whole, including consummation
of the transactions contemplated hereby and thereby. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Section&nbsp;6.03 <U>Purchaser&#146;s Consents and Approvals</U>. Except as set
forth in Section&nbsp;6.03 of the Purchaser Disclosure Schedule, no consent, approval, waiver or authorization of, or notice or filing with, any Governmental Authority is required to be obtained or made by Purchaser or any of its Affiliates in
connection with the execution, delivery and performance of this Agreement or the Ancillary Agreements or the consummation of the transactions contemplated hereby and thereby, except for such consents, approvals, waivers or authorizations of, or
notices or filings with Governmental Authorities (other than those responsible for regulating insurance or reinsurance companies), the failure to obtain or make any or all of which would not, individually or in the aggregate, reasonably be expected
to materially impair or materially delay the ability of Purchaser to perform its obligations under this Agreement and the other Transaction Agreements, taken as a whole, including consummation of the transactions contemplated hereby and thereby.
</P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Section&nbsp;6.04 <U>Compliance with Law</U>. Since June&nbsp;30, 2015, Purchaser and its Affiliates (a)&nbsp;are, and at all times have
been, in compliance with all applicable Laws in all material respects and (b)&nbsp;have not received any written notice of any actual or alleged material violation of, or failure to comply in any material respect with, applicable Law (other than
notices involving claims for benefits arising under any Policies), except in each case as would not reasonably be expected to materially impair or materially delay the ability of Purchaser to perform its obligations under this Agreement and the
other Transaction Agreements, taken as a whole, including consummation of the transactions contemplated hereby and thereby. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">93 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Section&nbsp;6.05 <U>Litigation; Orders</U>. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(a) There are no Actions or arbitration proceedings pending or, to the Knowledge of Purchaser, threatened in writing against Purchaser or any
of its Affiliates which would, individually or in the aggregate, materially impair or materially delay the ability of Purchaser to perform its obligations under this Agreement and the other Transaction Agreements, taken as a whole, including
consummation of the transactions contemplated hereby and thereby. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(b) There are no outstanding Orders against or involving Purchaser by or
before any Governmental Authority, which would, individually or in the aggregate, reasonably be expected to materially impair or materially delay the ability of Purchaser to perform its obligations under this Agreement and the other Transaction
Agreements, taken as a whole, including consummation of the transactions contemplated hereby and thereby. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Section&nbsp;6.06 <U>Purchase
Not for Distribution</U>. The Company Shares will be acquired by Purchaser for its own account and not with a view to distribution. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Section&nbsp;6.07 <U>Financial Statements; Financial Capacity</U>. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(a) Prior to the date of this Agreement, Purchaser has delivered to each Seller and Reinsurer, true, complete and correct copies of the audited
consolidated balance sheets of Purchaser Parent as of December&nbsp;31, 2016 and December&nbsp;31, 2015, and the related consolidated statements of operations, changes in stockholders&#146; equity and cash flows for the fiscal years then ended
(collectively, the &#147;<U>Purchaser Parent Financial Statements</U>&#148;). The Purchaser Parent Financial Statements (i)&nbsp;were prepared, in all material respects, in accordance with GAAP consistently applied during the periods involved and
(ii)&nbsp;present fairly, in all material respects, the consolidated financial position, results of operations, changes in stockholders&#146; equity and cash flows of Purchaser Parent as of the respective dates and for the respective periods
referred to in the Purchaser Parent Financial Statements. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(b) Prior to the date of this Agreement, Purchaser has delivered to each Seller
and Reinsurer, true, complete and correct copies of the audited annual statutory financial statements of Purchaser as of December&nbsp;31, 2016 and December&nbsp;31, 2015 (collectively, the &#147;<U>Purchaser Financial Statements</U>&#148;). The
Purchaser Financial Statements (i)&nbsp;were prepared, in all material respects, in accordance with SAP consistently applied during the periods involved and (ii)&nbsp;present fairly, in all material respects, the statutory financial position,
statutory results of operations, capital and surplus of Purchaser as of the respective dates and for the respective periods referred to in the Purchaser Financial Statements. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(c) At the Closing, Purchaser will have sufficient available and unencumbered cash or cash equivalents, lines of credit or other sources of
immediately available funds to consummate the transactions contemplated by this Agreement and to pay all related fees and expenses required to be paid by it hereunder and thereunder. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Section&nbsp;6.08 <U>Ratings</U>. As of the date hereof, Purchaser does not have any Knowledge that there is any event or circumstance as of
the date hereof, including the announcement or consummation of the transactions contemplated by this Agreement or the Ancillary Agreements, that will, to the Knowledge of Purchaser, adversely affect the rating issued by Standard&nbsp;&amp;
Poor&#146;s Corporation or A.M. Best Company, Inc. with respect to Purchaser&#146;s or the Company&#146;s financial strength or claims paying ability. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">94 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Section&nbsp;6.09 <U>Brokers or Finders</U>. Other than Goldman Sachs&nbsp;&amp; Co. LLC, the
fees and expenses of which shall be paid by Purchaser, neither Purchaser nor any of its Affiliates has incurred any obligation or Liability, contingent or otherwise, for brokerage or finders&#146; fees or agents&#146; commissions or other similar
payment in connection with this Agreement and the Ancillary Agreements and the transactions contemplated hereby or thereby. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Section&nbsp;6.10 <U>No Other Agreements</U>. Other than the Ancillary Agreements, clauses (a)&nbsp;and (c)&nbsp;of the definition of
Confidentiality Agreements, and as set forth on Section&nbsp;6.10 of the Purchaser Disclosure Schedule, as of the date hereof, there are no written Contracts entered into (or contemplated to be entered into) by and between Purchaser or its
Affiliates, on the one hand, and Sellers or their Affiliates or Reinsurer or its Affiliates (disregarding the proviso in the definition of &#147;Affiliate&#148; for purposes of this <U>Section&nbsp;6.10</U>), on the other hand, relating to this
Agreement, the other Transaction Agreements or any transactions contemplated hereby or thereby. </P> <P STYLE="margin-top:24pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>ARTICLE&nbsp;VII </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>REPRESENTATIONS AND WARRANTIES OF REINSURER </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Except as set forth in the corresponding section or subsections of the disclosure schedules delivered by Reinsurer to Sellers and Purchaser
(the &#147;<U>Reinsurer Disclosure Schedule</U>&#148;) simultaneously with the execution of this Agreement (it being understood that any matter disclosed in such disclosure schedules shall be deemed disclosed with respect to any section of this
<U>Article&nbsp;VII</U> to which the relevance of such matter is reasonably apparent on its face), Reinsurer hereby represents and warrants to Sellers and Purchaser, as of the date hereof and as of the Closing Date, as follows: </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Section&nbsp;7.01 <U>Incorporation and Authority of Reinsurer and Affiliates of Reinsurer</U>. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(a) Reinsurer is a corporation duly incorporated, validly existing and in good standing under the Laws of its jurisdiction of incorporation.
Each Affiliate of Reinsurer that is party to any Transaction Agreement is a corporation or other legal entity duly incorporated or organized, validly existing and in good standing under the Laws of the jurisdiction in which it is incorporated or
organized. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(b) Reinsurer and each Affiliate of Reinsurer that is party to any Transaction Agreement has all requisite corporate or other
entity power and authority to enter into, consummate the transactions contemplated by, and carry out its obligations under each of the Transaction Agreements to which it is or will be a party. The execution and delivery by Reinsurer and each
Affiliate of Reinsurer that is party to any Transaction Agreement of each Transaction Agreement to which it is or will be a party, and the consummation by Reinsurer and each Affiliate of Reinsurer that is party to any Transaction Agreement of the
transactions contemplated by, and the performance by Reinsurer and each Affiliate of Reinsurer that is party to any Transaction Agreement of their respective obligations under, such Transaction </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">95 </P>


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Agreements have been duly and validly authorized by all requisite corporate action on the part of Reinsurer and each Affiliate of Reinsurer that is party to any Transaction Agreement and no
additional corporate proceedings on the part of Reinsurer or any such Affiliate of Reinsurer are necessary to approve or authorize, as applicable, this Agreement or any Ancillary Agreement, the performance of Reinsurer&#146;s or such
Affiliate&#146;s obligations hereunder or thereunder or the consummation of the transactions contemplated hereby or thereby. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(c) This
Agreement has been duly authorized, executed and delivered by Reinsurer, and upon due authorization, execution and delivery of this Agreement by the other parties hereto, will be the legal, valid and binding obligation of Reinsurer, enforceable
against Reinsurer in accordance with its terms, subject to the Enforceability Exceptions. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(d) At the Closing, each Ancillary Agreement
shall, as applicable, be duly authorized, executed and delivered by Reinsurer or an Affiliate of Reinsurer party thereto, and upon due authorization, execution and delivery of each such Ancillary Agreement by the other parties thereto, will be the
legal, valid and binding obligation of Reinsurer or such Affiliates of Reinsurer party thereto, enforceable against Reinsurer and each such Affiliate of Reinsurer in accordance with its terms, subject to the Enforceability Exceptions. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Section&nbsp;7.02 <U>Non-Contravention</U>. Assuming the consents, approvals, waivers, authorizations, notices and filings referred to in
<U>Section&nbsp;3.03</U>, <U>Section&nbsp;6.03</U> and <U>Section&nbsp;7.03</U> are obtained or made, as applicable, the execution, delivery and performance of this Agreement and the Ancillary Agreements by Reinsurer or any Affiliate of Reinsurer
party to any Transaction Agreement, and the consummation by Reinsurer and by the Affiliates of Reinsurer party to any Transaction Agreements, of the transactions contemplated by the Transaction Agreements to which Reinsurer and such Affiliates of
Reinsurer are or will be a party do not and will not (a)&nbsp;violate or conflict with the organizational documents of Reinsurer or any Affiliates of Reinsurer party to any Transaction Agreement, (b)&nbsp;violate or conflict with any Law or Order
applicable to Reinsurer, any Affiliate of Reinsurer party to any Transaction Agreement or by which any of them or any of their respective properties or assets are bound or subject or (c)&nbsp;result in any breach of, or constitute a violation or
default (or event which, with the giving of notice or lapse of time, or both, would become a default) under, give to any Person any rights of termination, acceleration of remedies, penalty, increase in benefit payable, forfeiture of, or cancellation
of, or result in the creation of any Encumbrance (other than a Permitted Encumbrance) on any of the assets or properties of Reinsurer, or any Affiliate of Reinsurer party to any Transaction Agreement, pursuant to any Permit or material Contract to
which Reinsurer or any such Affiliate is a party, other than, in the case of clauses&nbsp;(b) and (c), any such conflicts, violations, breaches, defaults, rights or Encumbrances that would not, individually or in the aggregate, reasonably be
expected to materially impair or materially delay the ability of Reinsurer to perform its obligations under this Agreement and the other Transaction Agreements, taken as a whole, including consummation of the transactions contemplated hereby and
thereby. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Section&nbsp;7.03 <U>Reinsurer&#146;s Consents and Approvals</U>. Except as set forth in Section&nbsp;7.03 of the Reinsurer
Disclosure Schedule, no consent, approval, waiver or authorization of, or notice or filing with, any Governmental Authority, is required to be obtained or made by Reinsurer or any of its Affiliates in connection with the execution, delivery and
performance of this Agreement or the Ancillary Agreements or the consummation of the transactions contemplated </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">96 </P>


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hereby and thereby, except for such consents, approvals, waivers or authorizations of, or notices or filings with Governmental Authorities (other than those responsible for regulating insurance
or reinsurance companies), the failure to obtain or make any or all of which would not, individually or in the aggregate, reasonably be expected to materially impair or materially delay the ability of Reinsurer to perform its obligations under this
Agreement and the other Transaction Agreements, taken as a whole, including consummation of the transactions contemplated hereby and thereby. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Section&nbsp;7.04 <U>Compliance with Law</U>. Since June&nbsp;30, 2015, Reinsurer and its Affiliates (a)&nbsp;are, and at all times have been,
in compliance with all applicable Laws in all material respects and (b)&nbsp;have not received any written notice of any actual or alleged material violation of, or failure to comply in any material respect with, applicable Law (other than notices
involving claims for benefits arising under any Policies), except in each case as would not reasonably be expected to materially impair or materially delay the ability of Reinsurer to perform its obligations under this Agreement and the other
Transaction Agreements, taken as a whole, including consummation of the transactions contemplated hereby and thereby. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Section&nbsp;7.05
<U>Litigation; Orders</U>. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(a) There are no Actions or arbitration proceedings pending or, to the Knowledge of Reinsurer, threatened in
writing against Reinsurer or any of its Affiliates which would, individually or in the aggregate, materially impair or materially delay the ability of Reinsurer to perform its obligations under this Agreement and the other Transaction Agreements,
taken as a whole, including consummation of the transactions contemplated hereby and thereby. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(b) There are no outstanding Orders against
or involving Reinsurer by or before any Governmental Authority, which would, individually or in the aggregate, reasonably be expected to materially impair or materially delay the ability of Reinsurer to perform its obligations under this Agreement
and the other Transaction Agreements, taken as a whole, including consummation of the transactions contemplated hereby and thereby. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Section&nbsp;7.06 <U>Financial Statements; Financial Capacity</U>. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(a) Prior to the date of this Agreement, Reinsurer has made available to Sellers and Purchaser true, complete and correct copies of the audited
annual statutory financial statements of Reinsurer as of December&nbsp;31, 2016 and December&nbsp;31, 2015 (collectively, the &#147;<U>Reinsurer Financial Statements</U>&#148;). The Reinsurer Financial Statements (i)&nbsp;were prepared, in all
material respects, in accordance with SAP consistently applied during the periods involved and (ii)&nbsp;present fairly, in all material respects, the statutory financial position, statutory results of operations, capital and surplus of such
Reinsurer as of the respective dates and for the respective periods referred to in the Reinsurer Financial Statements. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(b) At the Closing,
Reinsurer will have sufficient available and unencumbered funds to consummate the transactions contemplated by this Agreement and to pay all related fees and expenses required to be paid by it hereunder and thereunder. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">97 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Section&nbsp;7.07 <U>Brokers or Finders</U>. Other than JPMorgan Chase&nbsp;&amp; Co., the fees
and expenses of which shall be paid by Reinsurer, neither Reinsurer nor any of its Affiliates has incurred any obligation or Liability, contingent or otherwise, for brokerage or finders&#146; fees or agents&#146; commissions or other similar payment
in connection with this Agreement and the Ancillary Agreements and the transactions contemplated hereby or thereby. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Section&nbsp;7.08
<U>No Other Agreements</U>. Other than the Ancillary Agreements, clauses (b)&nbsp;and (c)&nbsp;of the definition of Confidentiality Agreements and as set forth on Section&nbsp;7.08 of the Reinsurer Disclosure Schedule, as of the date hereof, there
are no written Contracts entered into (or contemplated to be entered into) by and between Reinsurer or its Affiliates (disregarding the proviso in the definition of &#147;Affiliate&#148; for purposes of this <U>Section&nbsp;7.08</U>), on the one
hand, and Sellers or their Affiliates or Purchaser or its Affiliates, on the other hand, relating to this Agreement, the other Transaction Agreements or any transactions contemplated hereby or thereby. </P>
<P STYLE="margin-top:24pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>ARTICLE&nbsp;VIII </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>ADDITIONAL AGREEMENTS OF SELLERS, PURCHASER AND REINSURER </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Section&nbsp;8.01 <U>Conduct of Business</U>. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(a) During the period from the date of this Agreement through the earlier of the Closing Date or the termination of this Agreement, except as
expressly required by this Agreement (including to the extent required to effect the Restructuring Transactions) or the Restructuring Agreements, as set forth on Section&nbsp;8.01 of the Sellers Disclosure Schedule, as required by applicable Law or
Order or with the prior written consent of Purchaser (which consent shall not be unreasonably withheld, conditioned or delayed) (<U>provided</U> that Reinsurer&#146;s prior written consent shall also be required with respect to certain subsections
of this <U>Section&nbsp;8.01(a)</U> as set forth in the proviso below), Sellers shall, and shall cause their Affiliates to, with respect to the Transferred Companies and the Transferred Businesses, (x)&nbsp;conduct the Transferred Businesses in the
ordinary course consistent with past practice and (y)&nbsp;use commercially reasonable efforts to preserve the business organization of the Transferred Businesses and maintain their existing relations and goodwill with policyholders, reinsurers,
Governmental Authorities and employees and (z)&nbsp;not (it being understood that no act or omission by Sellers, their Affiliates, the Transferred Companies or the Transferred Businesses pursuant to, and consistent with the terms of, this clause
(z)&nbsp;below shall be deemed to be a breach of clauses (x)&nbsp;or (y)): </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(i) sell, transfer, pledge or otherwise convey
or dispose of any Acquired Assets other than any sales, transfers, pledges, conveyances or dispositions of any Acquired Assets in the ordinary course of business that are not material, individually or in the aggregate, to the Group Benefits Business
or the Life Business; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(ii) terminate nor materially modify, amend or waive compliance with any of the Assigned Contracts,
other than in the ordinary course of business consistent with past practice; </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">98 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(iii) (A)&nbsp;enter into any Contract which would, if entered into prior to the
date hereof, have been a Material Contract, (B)&nbsp;modify or amend (in any material respect), assign, renew or extend or terminate any existing Material Contract or (C)&nbsp;waive, release or assign any material rights or claims under any existing
Material Contract, in each case (except with respect to Specified Contracts) other than in the ordinary course of business after consultation with Purchaser or Reinsurer (solely with respect to Assigned Life Contracts); </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(iv) abandon, modify, waive, terminate or allow to lapse any material Permit relating to the Transferred Businesses; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(v) make any material changes in the terms or policies with respect to the payment of commissions or other compensation to any
Producers (other than any employees of Sellers or their Affiliates) with respect to the Transferred Businesses other than in the ordinary course of business consistent with past practice; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(vi) (A)&nbsp;incur any indebtedness, (B)&nbsp;make any loans, advances or capital contributions or (C)&nbsp;make or direct to
be made any capital investments or equity investments in any entity, in each case, in non-compliance with applicable investment guidelines; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(vii) fail to timely file with the Governmental Authority responsible for the regulation of insurance in the Company&#146;s
jurisdiction of domicile all required annual and quarterly statutory financial statements and other material insurance regulatory filings; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(viii) materially change any underwriting, reinsurance, pricing, investment, claims handling, actuarial, reserving or
accounting policies, practices or principles, except insofar as may be required by applicable Law, GAAP or SAP or as may be required by any Governmental Authority; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(ix) voluntarily grant any material Encumbrance (other than a Permitted Encumbrance) on any Acquired Assets; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(x) (A)&nbsp;settle any material Action, other than in the ordinary course of business consistent with past practice and on
terms that require only the payment of money and under which no limitation becomes applicable to the conduct of business of either Transferred Company or (B)&nbsp;release or forgive any material Action or waive any material right thereto other than
in the ordinary course of business consistent with past practice; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(xi) modify or amend in any material respect or
terminate any of the Reinsurance Contracts or waive, release or assign any material rights or claims thereunder or enter into any Contract which would, if entered into prior to the date hereof, have been a Reinsurance Contract; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(xii) (A)&nbsp;grant to (x)&nbsp;a Group Benefits Employee whose annual base salary exceeds two hundred thousand dollars
($200,000), or (y)&nbsp;any Life Employee (each, an &#147;<U>Applicable Individual</U>&#148;) any increase in base salary (or wages) or incentive compensation opportunity, including commissions, (B)&nbsp;pay or award, or commit to pay or award, to
any Applicable Individual any bonuses, retention or incentive compensation, </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">99 </P>


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except for incentive payments being made as required under any Benefit Plan in existence as of the date hereof, (C)&nbsp;grant any Sellers Equity Awards to any Business Employee, (D)&nbsp;(1)
enter into any employment, severance or change in control agreement with any Applicable Individual or (2)&nbsp;enter into any retention agreement with any Business Employee, (E)&nbsp;establish, adopt, enter into, amend or terminate (1)&nbsp;any
collective bargaining agreement or similar agreement covering any Business Employee or (2)&nbsp;any Group Benefits Plan or Life Plan (or any plan, program, policy, agreement or arrangement that would be a Group Benefits Plan or a Life Plan if in
existence on the date hereof), except (1)&nbsp;for establishing, adopting, entering into, amending or terminating any Benefit Plans that are applicable generally to the employees of Sellers and its Affiliates or (2)&nbsp;for the renewal of group
health or welfare plans made in the ordinary course of business, consistent with past practice, (F)&nbsp;take any action to accelerate any payment or benefit payable or to become payable to any Applicable Individual, (G)&nbsp;hire (or promote) any
individual who (1)&nbsp;is or would be at &#147;Level&nbsp;3&#148; or above in the Group Benefits Business or (2)&nbsp;an Applicable Individual, (H)&nbsp;terminate the employment of any Applicable Individual, other than for cause, (I)&nbsp;transfer
the employment of any employee of Sellers or their Affiliates into a Transferred Company or transfer (including through internal job posting) the employment or reassign or reallocate the duties or responsibilities of (1)&nbsp;any Group Benefits
Employee (other than a Shared Employee), such that such individual would not be a Group Benefits Employee or would not dedicate all or substantially all of his or her business working time to the Group Benefits Business at the Closing, (2)&nbsp;any
Shared Employee, such that such individual would not be a Shared Employee or would not dedicate more than fifty percent (50%)&nbsp;of his or her business working time to the Group Benefits Business at the Closing, (3)&nbsp;any Life Employee, such
that such individual would not be a Life Employee at the Closing, or (4)&nbsp;any employee of Sellers or their Affiliates who is not a Business Employee on the date hereof, such that such individual would be a Business Employee as of the Closing; or
(J)&nbsp;take any action that results in (1)&nbsp;any In-Force Service&nbsp;&amp; Maintenance Employee ceasing to provide all or a majority of his or her business time to servicing In-Force Life and Annuity Policies, or (2)&nbsp;any Life Employee
(other than an In-Force Service&nbsp;&amp; Maintenance Employee, a Life Operations Employee or a Life Critical New Business Employee) providing all or a majority of his or her business time to servicing In-Force Life and Annuity Policies; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(xiii) declare, set aside or pay any dividend, or make any other distribution (in cash, stock or otherwise), in respect of any
shares of Capital Stock or other securities of any of the Transferred Companies (other than pursuant to the Restructuring Transactions or the Extraordinary Dividend or dividend payments under the terms of the Reinsured Contracts); </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(xiv) (A)&nbsp;transfer, issue, sell, pledge, encumber or dispose of any shares of Capital Stock or other securities of any of
the Transferred Companies, or securities exercisable or convertible into, or exchangeable or redeemable for shares of Capital Stock or other securities of any of the Transferred Companies or (B)&nbsp;grant options, warrants, calls or other rights to
purchase or otherwise acquire any shares of Capital Stock or other securities of any of the Transferred Companies; </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">100 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(xv) repurchase, redeem, repay or otherwise acquire any outstanding shares of
Capital Stock or other securities of any of the Transferred Companies; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(xvi) effect any recapitalization,
reclassification, stock split or combination or similar change in the capitalization of any of the Transferred Companies; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(xvii) amend any charter, by-law or other organizational document of any of the Transferred Companies; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(xviii) adopt a plan of complete or partial liquidation or rehabilitation or authorize or undertake a merger, dissolution,
rehabilitation, consolidation, restructuring or other reorganization (other than, in the case of any restructuring or reorganization, pursuant to the Restructuring Transactions); </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(xix) subject to <U>Section&nbsp;8.10</U>, (A)&nbsp;purchase or acquire any material property or assets or sell, lease,
exchange, transfer or otherwise dispose of any material property or assets, other than Investment Assets in the ordinary course of business, (B)&nbsp;acquire or dispose of any business or any corporation, partnership, joint venture, association or
other business organization or division thereof (other than pursuant to the Restructuring Transactions), or (C)&nbsp;make any capital expenditure other than in the ordinary course of business and, in the case of this clause&nbsp;(C), that
individually or in the aggregate would not exceed ten million dollars ($10,000,000); </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(xx) pay, discharge, compromise or
satisfy any material Liabilities of the Transferred Companies other than the payment, discharge, compromise or satisfaction of Liabilities in the ordinary course of business; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(xxi) with respect to the Transferred Companies or the Transferred Businesses, (A)&nbsp;change or revoke, or, except in the
ordinary course of business consistent with past practice, make any material Tax election, (B)&nbsp;change any material Tax accounting method, (C)&nbsp;file any material amended Tax Return, (D)&nbsp;settle or compromise any audit or other proceeding
relating to a material amount of Taxes, (E)&nbsp;enter into any closing agreement with any Taxing Authority relating to material Taxes or a material Tax Return, (F)&nbsp;extend the statute of limitations period for the assessment or collection of
any material Tax (other than by making an ordinary course statutory extension), or (G)&nbsp;surrender any right to claim a material Tax refund; or </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(xxii) authorize or enter into any Contract with respect to any of the foregoing; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><U>provided</U>, absent any other applicable exception pursuant to this <U>Section&nbsp;8.01</U>, Reinsurer&#146;s prior written consent (which consent shall
not be unreasonably withheld, conditioned or delayed) shall also be required in connection with clauses&nbsp;(x) and (y)&nbsp;of <U>Section&nbsp;8.01(a)</U>, <U>Section&nbsp;8.01(a)(i)</U>, <U>Section&nbsp;8.01(a)(ii)</U>,
<U>Section&nbsp;8.01(a)(iv)</U>, <U>Section&nbsp;8.01(a)(v)</U>, <U>Section&nbsp;8.01(a)(vii)</U>, <U>Section&nbsp;8.01(a)(viii)</U>, <U>Section&nbsp;8.01(a)(ix)</U>, <U>Section&nbsp;8.01(a)(xi)</U>, <U>Section&nbsp;8.01(a)(xii)</U> or
<U>Section&nbsp;8.01(a)(xxi)</U>, in each case, only as such provisions apply to the Acquired Life Assets, the Assigned Life Contracts, the Life Business or the Transferred Life Employees, as applicable. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">101 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Section&nbsp;8.02 <U>Access to Information; Confidentiality; Books and Records</U>. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(a) Prior to the Closing, for any reasonable purpose relating to this Agreement, Sellers shall afford (i)&nbsp;to Purchaser and its
Representatives reasonable access to the properties, appropriate personnel and Books and Records and (ii)&nbsp;to Reinsurer and its Representatives reasonable access to the properties, appropriate personnel and Life Books and Records, in each case
upon reasonable advance notice and during normal business hours and subject to the rules applicable to visitors at Sellers&#146; offices generally. Access to such properties, appropriate personnel, Books and Records or Life Books and Records shall
be at Purchaser&#146;s or Reinsurer&#146;s expense, as the case may be, and shall not unreasonably interfere with Sellers&#146; or their Affiliates&#146; business operations. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(b) Notwithstanding any other provision of this <U>Section&nbsp;8.02</U>, no party shall be obligated to provide access to any Books and
Records if providing access to Books and Records would reasonably (A)&nbsp;jeopardize the protection of attorney-client privilege or expose such party to Liability for disclosure of sensitive or personal information or (B)&nbsp;violate applicable
Law or a Contract or obligation of confidentiality owing to a non-Affiliated Person. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(c) Each of Sellers, Purchaser and Reinsurer (each,
the &#147;<U>Receiving Party</U>&#148;) hereby covenant and agree, each on behalf of itself and on behalf of its Affiliates, that from and following the Closing, the Receiving Party and its Affiliates will not disclose, give, sell, use or otherwise
divulge any Confidential Information of the other party (the &#147;<U>Disclosing Party</U>&#148;) or permit their respective Representatives to do the same, except that each Receiving Party may disclose such Confidential Information or portions
thereof (i)&nbsp;if legally compelled to do so, (ii)&nbsp;to the extent necessary for the performance of such Receiving Party&#146;s obligations under this Agreement or the Ancillary Agreements, (iii)&nbsp;to the extent necessary for the enforcement
of the rights of such Receiving Party and its Affiliates under this Agreement or the Ancillary Agreements, (iv)&nbsp;to those of such Receiving Party&#146;s Affiliates, and to their respective Representatives in each case who need to know such
information for the foregoing purposes or (v)&nbsp;as required under any applicable Law. If the Receiving Party or its Affiliates, or any of their respective Representatives become legally compelled to disclose any Confidential Information, the
Receiving Party shall provide the Disclosing Party with prompt written notice of such requirement so that the Disclosing Party may seek a protective order or other remedy or waive compliance with this <U>Section&nbsp;8.02(c)</U>. In the event that
such protective order or other remedy is not obtained, the Receiving Party or its Affiliates, as applicable, shall furnish only that portion of Confidential Information which is legally required to be provided and exercise its commercially
reasonable efforts to obtain assurances that appropriate confidential treatment will be accorded Confidential Information. Except as otherwise expressly set forth herein, subject to <U>Section&nbsp;8.02(f)</U>, following the Closing, Sellers and
their Affiliates shall be deemed &#147;Receiving Parties&#148; with respect to information (including Books and Records, but excluding Books and Records to the extent exclusively relating to the Accident and Health Individual Policies or the
Excluded BOLI/COLI Contracts) regarding the Company and its Subsidiaries. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(d) Purchaser, Reinsurer and Sellers agree that the
Confidentiality Agreements will remain in full force and effect in accordance with their terms until the Closing Date; <U>provided</U>, <U>however</U>, to the extent of any conflict between the provisions of the Confidentiality Agreements and this
Agreement, the terms of this Agreement shall govern, and nothing in the Confidentiality </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">102 </P>


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Agreements shall restrict, prohibit, impede or delay the ability of the parties to exercise their respective rights or perform their respective obligations under this Agreement or any Ancillary
Agreement, including, for the avoidance of doubt, the use of confidential information for, and the disclosure of any confidential information to a party&#146;s respective Representatives without the disclosing party&#146;s consent in connection
with, the negotiation and consummation of the transactions contemplated hereby. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(e) Prior to the Closing, (i)&nbsp;Sellers, Purchaser and
Reinsurer shall develop and implement a plan (the &#147;<U>Books and Records Plan</U>&#148;) that will result in (x)&nbsp;Sellers or a Transferred Company retaining a copy of the Books and Records and (y)&nbsp;the delivery or transfer, subject to
compliance with applicable Law, of the Books and Records to Purchaser (or a Person designated by Purchaser), and (ii)&nbsp;Sellers, Purchaser and Reinsurer shall develop and implement a plan that will result in (x)&nbsp;Reinsurer receiving a copy of
the Life Books and Records and (y)&nbsp;the delivery or transfer, subject to compliance with applicable Law, of a copy of the Life Books and Records to Reinsurer (or a Person designated by Reinsurer), in each case, on the Closing Date or as soon as
possible thereafter (but not later than ten (10)&nbsp;Business Days thereafter) in the manner (and in the case of physical Books and Records or physical copies of the Life Books and Records at the location(s)) reasonably requested by Purchaser or
Reinsurer to the extent not located at an office of a Transferred Company; <U>provided</U> that Sellers shall have no obligation to expunge any such Books and Records from Sellers&#146; or their Affiliates&#146; systems or records or to expunge any
electronic archival or backups of such Books and Records. Prior to the Closing, Sellers shall, and shall cause their Affiliates to, use reasonable best efforts to maintain the Books and Records in substantially the same manner and with the same care
that the Books and Records have been maintained for the twelve (12)-month period prior to the execution of this Agreement. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(f) From and
after the Closing, Sellers and LMGI shall not, and shall cause their Affiliates (and their respective captive agents) not to, use, transfer or monetize the Books and Records (except for Books and Records exclusively relating to any Retained
Business, including relating to the Accident and Health Individual Policies or the Excluded BOLI/COLI Contracts) or Confidential Information regarding the Company and its Subsidiaries, the Group Benefits Business or the Life Business for purposes of
soliciting customers or potential customers; <U>provided</U>, <U>however</U>, that for the avoidance of doubt, the foregoing shall not prohibit any of Sellers, their Affiliates or their respective captive agents from engaging in any general
solicitation in respect of Accident and Health Group Products or Accident and Health Individual Policies. From and after the Closing, Sellers and their Affiliates shall be permitted to use the Books and Records solely (i)&nbsp;to complete their
respective legal, regulatory, Tax and financial reporting requirements, (ii)&nbsp;to enforce their respective rights under this Agreement or the other Transaction Agreements or (iii)&nbsp;in respect of insurance or litigation matters, including any
claims for indemnification or contribution (other than, in the case of clauses (ii)&nbsp;and (iii), any litigation or dispute between Purchaser and its Affiliates (including the Transferred Companies) or Reinsurer and its Affiliates, on the one
hand, and Sellers and their Affiliates, on the other hand); <U>provided</U> that the foregoing sentence shall not apply to any Books and Records exclusively relating to Accident and Health Individual Policies or the Excluded BOLI/COLI Contracts.
</P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">103 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(g) For a period of five (5)&nbsp;years following the Closing Date, each of Sellers, Purchaser
and Reinsurer shall allow the other parties to interview its and its Affiliates&#146; employees and Representatives for any reasonable business purpose relating to the Transferred Businesses or the Retained Businesses, as applicable, including in
connection with Sellers&#146; pre-Closing employment of the Transferred Business Employees or a party&#146;s preparation or examination of regulatory and statutory filings and financial statements and the conduct of any litigation relating to the
Transferred Businesses or a Retained Business (other than any litigation or dispute between the party requesting, and the party requested to provide, such access to employees or Representatives, including any claims for indemnification or
contribution), or the conduct of any regulatory authority, policyholder, reinsurer or other dispute resolution or any other Third Party Claim. Access to such Representatives and records shall be at the requesting party&#146;s expense, as applicable,
and shall not unreasonably interfere with the providing party&#146;s or any of their respective successor companies&#146; business operations. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(h) The foregoing provisions of this <U>Section&nbsp;8.02</U> shall not apply with respect to post-Closing access, cooperation, exchange of
information, or record retention in respect of Tax matters, such matters being governed by <U>Section&nbsp;10.07</U>. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(i) For a period of
five (5)&nbsp;years after the Closing Date, each of Purchaser, Purchaser Parent, Reinsurer and Reinsurer Parent shall not, and shall cause their respective Affiliates (disregarding the proviso in the definition of &#147;Affiliate&#148; for purposes
of this <U>Section&nbsp;8.02(i)</U>) (and their respective captive agents) not to, use, transfer or monetize or make available to any Person the Books and Records or Confidential Information regarding the Company and its Subsidiaries, the Group
Benefits Business or the Life Business for purposes of soliciting customers or potential customers with respect to the sale of property and casualty insurance products (other than, with respect to Reinsurer, solely extended service contracts, gap
insurance products and ancillary products relating to the foregoing). </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Section&nbsp;8.03 <U>Reasonable Best Efforts; Regulatory
Matters</U>. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(a) Upon the terms and subject to the conditions set forth in this Agreement, each of Purchaser, Sellers and Reinsurer shall,
and shall cause their respective Affiliates to, use their respective reasonable best efforts to consummate and make effective the transactions contemplated by this Agreement and the Ancillary Agreements (including the Restructuring Transactions, or,
if any, the Extraordinary Dividend or the issuance and repayment of the Closing Date Surplus Note) as promptly as practicable, including, as applicable, (i)&nbsp;preparing and filing with any Governmental Authority as promptly as practicable all
consents, approvals, waivers, authorizations, notices and filings necessary, proper or advisable to consummate the transactions contemplated by this Agreement or the Ancillary Agreements, (ii)&nbsp;obtaining all consents, approvals, waivers,
authorizations, notices and filings necessary, proper or advisable to consummate the transactions contemplated by this Agreement or the Ancillary Agreements and (iii)&nbsp;securing the expiration or termination of any applicable waiting period under
the HSR Act. Purchaser shall be solely responsible for the costs of making or obtaining the consents, approvals, waivers, authorizations, notice and filings set forth on Section&nbsp;8.03(a)(i) of the Purchaser Disclosure Schedule, Reinsurer shall
be solely responsible for the costs of making or obtaining the consents, approvals, waivers, authorizations, notice and filings set forth on Section&nbsp;8.03(a)(ii) of the Reinsurer Disclosure Schedule and Sellers shall be solely responsible for
the costs of making or obtaining the consents, approvals, waivers, authorizations, notice and filings set forth on Section&nbsp;8.03(a)(iii) of the Sellers Disclosure Schedule; <U>provided</U>, <U>however</U>, that for the avoidance of doubt,
Sellers shall be solely responsible for legal, consultant or advisor fees incurred by Sellers or their Affiliates. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">104 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(b) Without limiting the foregoing, but subject to <U>Section&nbsp;8.03(c)</U>, each of
Purchaser, Sellers and Reinsurer, and their respective Affiliates, shall use their respective reasonable best efforts to avoid each and every impediment under any applicable Law that may be asserted by, or Order that may be entered with, any
Governmental Authority with respect to the consents, approvals, waivers, authorizations, notices and filings necessary, proper or advisable to consummate the transactions contemplated by this Agreement and the Ancillary Agreements (including the
Restructuring Transactions, or, if any, the Extraordinary Dividend or the issuance and repayment of the Closing Date Surplus Note) so as to enable the Closing to occur. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(c) Notwithstanding anything to the contrary in this Agreement, including this <U>Section&nbsp;8.03</U>, neither Purchaser nor any of its
Affiliates shall be obligated to take or refrain from taking, or to agree that it or any of its Affiliates (including, in the case of Purchaser, the Transferred Companies) will take or refrain from taking, any action (including any action set forth
in <U>Section&nbsp;8.03(b)</U>), or to suffer to exist any condition, limitation, restriction or requirement that, individually or in the aggregate with any other actions, conditions, limitations, restrictions or requirements that would reasonably
be expected to (i)&nbsp;have a Material Adverse Effect or (ii)&nbsp;materially and adversely restrict the ability of Purchaser and its Affiliates (other than the Transferred Companies), taken as a whole, to conduct their businesses after the Closing
Date (each of the foregoing, a &#147;<U>Burdensome Condition</U>&#148;); <U>provided</U>, <U>however</U>, that for purposes of determining whether a &#147;Burdensome Condition&#148; has been imposed, the following shall be disregarded, in each case,
only if Purchaser has not notified Sellers that Purchaser has withdrawn its request for the Extraordinary Dividend: (A)&nbsp;any condition, limitation, restriction or requirement to the extent arising out of (I)&nbsp;the Extraordinary Dividend or
the use of reasonable best efforts to obtain approval of the same or (II) the issuance or repayment of any Closing Date Surplus Note or the use of reasonable best efforts to obtain approval of the same, or (B)&nbsp;any limitation on the ability of
the Company to pay dividends, any obligation to maintain a minimum level of capital in the Company or any imposition of any guarantee, keepwell, capital maintenance or other similar agreement or arrangement with respect to the Company. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(d) In furtherance of, and without limiting, the foregoing, (i)&nbsp;Purchaser shall file a &#147;<U>Form A</U>&#148; Acquisition of Control
Statement, together with all exhibits, affidavits and certificates thereto (which filing shall include, if any, a description of the Extraordinary Dividend), with the Insurance Commissioner of the State of New Hampshire within twenty (20)&nbsp;days
after the date hereof, (ii)&nbsp;each of Purchaser and Sellers shall file a notification and report form pursuant to the HSR Act with the Federal Trade Commission and the Antitrust Division of the United States Department of Justice with respect to
the transactions contemplated hereby, within ten (10)&nbsp;Business Days after the date hereof, and request early termination of the waiting period under the HSR Act, (iii)&nbsp;Sellers shall, as soon as reasonably practicable, to the extent
applicable, file and make, and cause their applicable Affiliates (including the Transferred Companies) to file and make, all &#147;Form D&#148; and other applications, notices and filings required to be filed or made by them with any Governmental
Authorities in order to effect the Restructuring Transactions, in each case together with all exhibits, affidavits and certificates thereto; (iv)&nbsp;Purchaser shall, as soon as reasonably practicable, file and make any pre-acquisition
notifications on &#147;Form E&#148; or similar market share notifications, to be filed in each jurisdiction where required by applicable </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">105 </P>


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Law with all required applicants; and (v)&nbsp;Reinsurer shall, as soon as reasonably practicable, to the extent applicable, file and make, and cause their applicable Affiliates to file and make,
all &#147;Form D&#148; filings required to be made by them with any Governmental Authorities in order to amend the existing services agreement between Reinsurer and New York Reinsurer in order to permit Reinsurer to provide administrative services
(A)&nbsp;amend the existing services agreement between Reinsurer and New York Reinsurer to permit Reinsurer to provide administrative services to New York Reinsurer with respect to the business reinsured under the New York Reinsurance Agreement and
(B)&nbsp;enter into a sub-contracting agreement between Reinsurer and New York Reinsurer related to the administration of the Excluded BOLI/COLI Contracts issued in New York. All filing fees payable in connection with the filings contemplated by
clauses&nbsp;(i), (ii)&nbsp;and (iv)&nbsp;above shall be borne by Purchaser. Sellers shall bear all costs and expenses incurred in connection with the filings contemplated by clause (iii)&nbsp;above. Reinsurer shall bear all costs and expenses
incurred in connection with the filings contemplated by clause (v)&nbsp;above. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(e) Purchaser shall not, and shall cause its Affiliates not
to, directly or indirectly (whether by merger, consolidation or otherwise), acquire (or agree to acquire) any assets, business or entity (or any division or part thereof, including through bulk reinsurance), the acquisition of which would materially
impair Purchaser&#146;s ability to obtain the approvals of any Governmental Authority required to consummate the Closing. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(f) Purchaser,
Reinsurer and Sellers shall consult with each other with respect to the obtaining of all consents, approvals, waivers and authorizations necessary, proper or advisable to consummate the transactions contemplated by this Agreement and the Ancillary
Agreements and each party shall keep the other parties apprised on a prompt basis of the status of such matters relating to such consents, approvals and waivers. Each party shall have the right to review in advance and shall be provided with a
reasonable opportunity to comment on, in each case subject to applicable Law, any material filing to be made with, or written materials submitted to, any Governmental Authority by any other party in connection with the transactions contemplated by
this Agreement and the Ancillary Agreements. Each party agrees to reasonably consider in good faith comments of the other parties thereon. The party responsible for any such action shall promptly deliver to the other parties evidence of the filing
or making of all filings, applications and submissions relating thereto, and any supplement, amendment or item of additional information in connection therewith. Each party shall promptly advise the other parties upon receiving any communication
from any Governmental Authority whose consent, approval, waiver or authorization is required to consummate the transactions contemplated by this Agreement (including the Restructuring Transactions and, to the extent separate filings are made prior
to the Closing, the Internal Merger), including promptly furnishing each other copies of any written or electronic communication, and shall promptly advise each other when any such communication causes such party to believe that there is a
reasonable likelihood that any such consent, approval, waiver or authorization will not be obtained or that the receipt of any such consent, approval, waiver or authorization will be delayed or conditioned. Prior to the Closing, each party shall
not, and shall not permit any of its respective Representatives to, participate in any live or telephonic meeting with any Governmental Authority in respect of any consent, approval, waiver or authorization or investigation or other inquiry (other
than (i)&nbsp;for routine or ministerial matters and (ii)&nbsp;accepting any unscheduled telephone call from any Governmental Authority, or responding to any question during a discussion with any Governmental Authority that was scheduled for
purposes of discussing matters other than the transactions contemplated </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">106 </P>


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hereby, <U>provided</U> that promptly after such call or meeting the party involved therewith provide a summary thereof to the other parties) relating to the transactions contemplated by this
Agreement and the Ancillary Agreements (including the Restructuring Transactions and, to the extent separate filings are made prior to the Closing, the Internal Merger) unless they obtain the prior approval of the other parties or their respective
Representatives and, to the extent permitted by applicable Law and by such Governmental Authority, provides such other party or parties the opportunity to attend and participate in such meeting. Notwithstanding the foregoing, (x)&nbsp;Sellers shall
have no obligation under this <U>Section&nbsp;8.03(f)</U> to disclose to Purchaser or Reinsurer any Confidential Information of Sellers or their Affiliates that does not relate to the transactions contemplated by this Agreement or the other
Transaction Agreements (including the Restructuring Transactions) or to allow Purchaser or Reinsurer to participate in any telephone calls, meetings or other oral or written communications among Sellers and their Affiliates and any Governmental
Authority to the extent relating to Confidential Information of Sellers or their Affiliates that does not relate to the transactions contemplated by this Agreement or the other Transaction Agreements (including the Restructuring Transactions);
(y)&nbsp;Purchaser shall have no obligation under this <U>Section&nbsp;8.03(f)</U> to disclose to Sellers or Reinsurer any Confidential Information of Purchaser or its Affiliates that does not relate to the transactions contemplated by this
Agreement or the other Transaction Agreements (including the Internal Merger) or to allow Sellers or Reinsurer to participate in any telephone calls, meetings or other oral or written communications among Purchaser and its Affiliates and any
Governmental Authority to the extent relating to Confidential Information of Purchaser or its Affiliates that does not relate to the transactions contemplated by this Agreement or the other Transaction Agreements (including the Internal Merger); and
(z)&nbsp;Reinsurer shall have no obligation under this <U>Section&nbsp;8.03(f)</U> to disclose to Sellers or Purchaser any Confidential Information of Reinsurer or its Affiliates that does not relate to the transactions contemplated by this
Agreement or the other Transaction Agreements or to allow Sellers or Purchaser to participate in any telephone calls, meetings or other oral or written communications among Reinsurer and its Affiliates and any Governmental Authority to the extent
relating to Confidential Information of Reinsurer or its Affiliates that does not relate to the transactions contemplated by this Agreement or the other Transaction Agreements. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(g) Each of Purchaser, Sellers and Reinsurer shall (i)&nbsp;promptly furnish, or cause to be furnished, all agreements, documents, instruments,
affidavits or information that may be required or requested by any Governmental Authority in connection with any consent, approval, waiver or authorization and (ii)&nbsp;make available their respective Representatives to each other and, upon
request, any Governmental Authority, in connection with (A)&nbsp;the preparation of any statement, filing, notice or application made by or on their behalf to, or (B)&nbsp;any review or approval process by, any Governmental Authority in connection
with the transactions contemplated by this Agreement and the Ancillary Agreements. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(h) (i)&nbsp;Purchaser and Sellers shall, promptly
after the date hereof until the Closing, work in good faith to (A)&nbsp;identify all services the Transferred Companies will require to have provided pursuant to the Company Transition Services Agreement and (B)&nbsp;begin the preparation of a plan
to migrate the services to be provided pursuant to the Company Transition Services Agreement from Sellers and their Affiliates to a Purchaser designee. (ii)&nbsp;Reinsurer and Sellers shall, promptly after the date hereof until the Closing, work in
good faith to (A)&nbsp;identify all services the Transferred Companies will require to have provided pursuant to the Reinsurer Transition Services Agreement and (B)&nbsp;begin the preparation of a plan to migrate the services to be provided pursuant
to the Reinsurer Transition Services Agreement from Sellers and their Affiliates to a Reinsurer designee. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">107 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(i) Notwithstanding anything to the contrary contained in this Agreement, in no event shall
Sellers or their Affiliates (including the Transferred Companies) be required to agree to take or enter into any action set forth in <U>Section&nbsp;8.03(b)</U> which is not conditioned upon the Closing, other than actions that may be required in
connection with the Restructuring Transactions. For the avoidance of doubt, this <U>Section&nbsp;8.03</U> shall not apply to Tax matters. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Section&nbsp;8.04 <U>Third-Party Consents</U>. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(a) Prior to the Closing, Sellers and Purchaser shall cooperate and use reasonable best efforts to obtain all consents, approvals, waivers and
agreements of any non-Affiliated Person (other than a Governmental Authority), including those set forth on Section&nbsp;8.04(a) of the Sellers Disclosure Schedule, reasonably necessary in connection with the consummation of the transactions
contemplated by this Agreement or any Ancillary Agreement. Notwithstanding anything to the contrary contained in this Agreement, from and after the Closing until the three (3)&nbsp;year anniversary of the Closing, to the extent that any such
non-Affiliated Person&#146;s consent, approval or agreement shall not have been obtained prior to the Closing, Purchaser and Sellers shall continue to cooperate with each other and use reasonable best efforts to obtain such consent, approval or
agreement as promptly as reasonably practicable following the Closing. Pending receipt of any such consent, approval or agreement, Purchaser and Sellers shall, and cause their respective Affiliates to, cooperate with each other to effect mutually
agreeable, reasonable and lawful arrangements designed to provide both Purchaser and Sellers and their respective Affiliates with substantially similar rights and benefits that would have accrued to such Person had such consent, approval or
agreement been obtained, including by means of transition services arrangements or otherwise. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(b) Prior to the Closing, Sellers and
Reinsurer shall cooperate and use reasonable best efforts to obtain all consents, approvals, waivers and agreements of any non-Affiliated Person (other than a Governmental Authority), including those set forth on Section&nbsp;8.04(b) of the Sellers
Disclosure Schedule, reasonably necessary in connection with the consummation of the transactions contemplated by this Agreement or any Ancillary Agreement. Notwithstanding anything to the contrary contained in this Agreement, from and after the
Closing until the three (3)&nbsp;year anniversary of the Closing, to the extent that any such non-Affiliated Person&#146;s consent, approval or agreement shall not have been obtained prior to the Closing, Reinsurer and Sellers shall continue to
cooperate with each other and use reasonable best efforts to obtain such consent, approval or agreement as promptly as reasonably practicable following the Closing. Pending receipt of any such consent, approval or agreement, Reinsurer and Sellers
shall, and cause their respective Affiliates to, cooperate with each other to effect mutually agreeable, reasonable and lawful arrangements designed to provide both Reinsurer and Sellers and their respective Affiliates with substantially similar
rights and benefits that would have accrued to such Person had such consent, approval or agreement been obtained, including by means of participation agreements, transition services arrangements or otherwise to the extent permitted by the underlying
agreements. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">108 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(c) Sellers, Reinsurer and Purchaser shall each bear their own and their respective
Affiliates&#146; internal costs to obtain such third-party consents and waivers, and the costs (including any license or other fees and expenses) associated with Sellers, Reinsurer, Purchaser or any of their respective Affiliates obtaining any such
consents or waivers from such other third parties (other than Governmental Authorities) shall be borne (i)&nbsp;equally by Sellers, on the one hand, and Purchaser, on the other hand, if the procurement of such consents, approvals or agreements is
for the benefit of Purchaser, (ii)&nbsp;equally by Sellers, on the one hand, and Reinsurer, on the other hand, if the procurement of such consents, approvals or agreements is for the benefit of Reinsurer and (iii)&nbsp;equally by Sellers on the one
hand, and Purchaser and Reinsurer (proportionately to their respective benefit) on the other hand, if the procurement of such consents, approvals or agreements is for the benefit of both Reinsurer and Purchaser; <U>provided</U>, that notwithstanding
anything herein to the contrary, Reinsurer&#146;s aggregate obligation to bear any portion of any fees pursuant to clauses (ii)&nbsp;or (iii)&nbsp;above or <U>Section&nbsp;8.05(b)</U> shall in no event exceed the amount set forth in
Section&nbsp;8.04(c) of the Reinsurer Disclosure Schedule. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(d) To the extent that any such consents, approvals or agreements required in
connection with a ceded Reinsurance Contract are not obtained, Purchaser and Reinsurer agree that (i)&nbsp;any Reinsured Contracts ceded pursuant to such Reinsurance Contract shall be excluded from the cession pursuant to the Reinsurance Agreement
and (ii)&nbsp;in and of itself, the failure to obtain any such consent, approval or agreement shall not be deemed to result in any breach or inaccuracy of any representation or warranty, or breach or non-performance of any covenant or agreement, of
Sellers contained herein for any purpose hereunder, including for purposes of <U>Article&nbsp;X</U>, <U>Article&nbsp;XI</U>, <U>Article&nbsp;XII</U> or <U>Article&nbsp;XIII</U> and (iii)&nbsp;such failure to obtain such consent, approval or
agreement shall not in and of itself (A)&nbsp;entitle Purchaser to an adjustment of Purchase Price or Reinsurer to an adjustment of Ceding Commission, or either Purchaser or Reinsurer to any claim for indemnification, (B)&nbsp;convey any rights
pursuant to <U>Section&nbsp;14.10</U> to either Purchaser or Reinsurer or (C)&nbsp;constitute a breach of this Agreement, including <U>Section&nbsp;8.04(b)</U>. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(e) Notwithstanding anything to the contrary contained in this Agreement, from and after the Closing until the three (3)&nbsp;year anniversary
of the Closing, if any Acquired Asset is not assignable or transferable to Purchaser or Reinsurer, as applicable (depending on whether it is an Acquired Group Benefits Asset or an Acquired Life Asset, respectively), without the consent of any Person
(other than Sellers or any of their Affiliates or Purchaser or Reinsurer, as applicable, or any of its Affiliates), and such consent has not been obtained on or prior to the Closing Date, this Agreement and the other Transaction Agreements shall not
constitute an assignment or transfer thereof unless and until such consent is obtained. In each such case, Sellers, on the one hand, and Purchaser or Reinsurer, as applicable, on the other hand, shall use their respective commercially reasonable
efforts and cooperate with each other to obtain such consent as soon as practicable after the Closing Date, subject to the cost-sharing arrangement set forth in <U>Section&nbsp;8.04(c)</U>. Upon obtaining the requisite consent of any applicable
Person, any Acquired Assets that were not assigned or transferred at the Closing shall be promptly transferred or assigned to Purchaser or Reinsurer, as applicable. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">109 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(f) With respect to any Acquired Assets that are not transferred at the Closing to Purchaser or
Reinsurer, as applicable (depending on whether it is an Acquired Group Benefits Asset or an Acquired Life Asset, respectively), after the Closing and until the earlier of (i)&nbsp;such time as any requisite consent is obtained therefor and the same
is sold and assigned to Purchaser or Reinsurer, as applicable, pursuant to an assignment and assumption agreement (or such earlier time as may be specified by Purchaser or Reinsurer, as applicable, in writing to Sellers in the sole discretion of
Purchaser or Reinsurer) or (ii)&nbsp;the three (3)&nbsp;year anniversary of the Closing: (A)&nbsp;the non-assignable items subject thereto and affected thereby shall be held, from and after the Closing, by Sellers or their applicable Affiliate in
trust for the benefit of Purchaser or Reinsurer, as applicable, and all benefits and obligations existing thereunder shall be for the account of Purchaser or Reinsurer, as applicable; (B)&nbsp;Purchaser or Reinsurer, as applicable, shall timely pay,
perform or otherwise discharge (in accordance with the respective terms and subject to the respective conditions thereof, and in the name of Sellers or their applicable Affiliate) all of the covenants and obligations of Sellers or their applicable
Affiliate incurred after the Closing with respect to such item (including any obligation relating to Taxes); (C)&nbsp;Sellers shall and shall cause their applicable Affiliate to take or cause to be taken such actions in its name or otherwise as
Purchaser or Reinsurer, as applicable, may reasonably request so as to provide Purchaser or Reinsurer, as applicable, with the benefits of such items and to effect the collection of money or other consideration that becomes due and payable under
such item, and shall promptly pay over to Purchaser or Reinsurer, as applicable, all money or other consideration received by it in respect of such item; and (D)&nbsp;Purchaser or Reinsurer, as applicable, on the one hand, and Sellers, on the other
hand, shall mutually cooperate to provide any other alternative arrangements as may be reasonably required to implement the purpose and intent of this Agreement and the other Transaction Agreements so that Purchaser or Reinsurer, as applicable, and
its Affiliates will have access to the rights and benefits contemplated by such item from and after the Closing. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Section&nbsp;8.05
<U>Shared Contracts</U>. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(a) With respect to those Shared Group Benefits Contracts set forth on Section&nbsp;8.05(a) of the Sellers
Disclosure Schedule, prior to the Closing, each of Sellers and Purchaser shall, and shall cause their respective Affiliates to, use their reasonable best efforts to take or cause to be taken all such reasonable actions (including paying any
reasonable fees or payments to a counterparty in connection therewith, which fees shall be borne equally by Sellers, on the one hand, and Purchaser, on the other hand to procure from the counterparty to any Shared Group Benefits Contracts a new
agreement between the Company and such counterparty, or an amendment or assignment of such Shared Group Benefits Contract, such that the identifiable and severable portions of such Shared Group Benefits Contracts that are related to the Group
Benefits Business may be transferred to the Company at the Closing). </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(b) With respect to those Shared Life Contracts set forth on
Section&nbsp;8.05(b) of the Sellers Disclosure Schedule, prior to the Closing, each of Sellers and Reinsurer shall, and shall cause their respective Affiliates to, use their reasonable best efforts to take or cause to be taken all such reasonable
actions (including paying any reasonable fees or payments to a counterparty in connection therewith, which fees shall be borne, subject to <U>Section&nbsp;8.04(c)</U>, equally by Sellers, on the one hand, and Reinsurer, on the other hand to procure
from the counterparty to any Shared Life Contract a new agreement between Reinsurer and such counterparty, or an amendment or assignment of such Shared Life Contract, such that the identifiable and severable portions of such Shared Life Contract
that are related to the Life Business may be transferred to Reinsurer at the Closing). </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">110 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Section&nbsp;8.06 <U>Multiparty Agreements</U>. Each of Sellers and Purchaser shall use its
reasonable best efforts to take, or cause to be taken, all reasonable actions and use its reasonable best efforts to do, or cause to be done, all things reasonably necessary, proper or advisable to revise, amend, bifurcate or modify each Multiparty
Agreement such that, effective as of the Closing, (a)&nbsp;any of the Transferred Companies, on the one hand, or Sellers or any of their Affiliates (other than the Transferred Companies), on the other hand, are no longer party to such Multiparty
Agreement (and the Person which is no longer party to such Multiparty Agreement will no longer have any outstanding or future Liability under such Multiparty Agreement) and (b)&nbsp;to the extent requested by Purchaser, the Transferred Companies
continue to retain the same benefits under such Multiparty Agreement insofar as applicable to the Transferred Companies as of the date of this Agreement; <U>provided</U>, <U>however</U>, to the extent Sellers and Purchaser are unable to effectuate
the foregoing, each of Sellers, on the one hand, and Purchaser, on the other hand, shall indemnify, defend and hold harmless the other for any Liabilities incurred by such other party and its Affiliates in respect of such Multiparty Agreement to the
extent arising out of or relating to any services used, goods received or actions taken (or failed to be taken) by the applicable indemnifying party or its Affiliates. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Section&nbsp;8.07 <U>Intercompany Obligations and Arrangements</U>. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(a) Sellers shall, and shall cause their Affiliates to, take such actions and make such payments as may be necessary so that concurrently with
the Closing, the Transferred Companies, on the one hand, and Sellers and their Affiliates (other than the Transferred Companies), on the other hand, shall settle, discharge, offset, pay, repay in full, terminate, commute or extinguish all
intercompany loans, notes and advances regardless of their maturity and all intercompany receivables and payables, including any accrued and unpaid interest to but excluding the date of payment, for the amount due; <U>provided</U>, <U>however</U>,
that this <U>Section&nbsp;8.07(a)</U> shall not apply to any intercompany loans, notes, advances, receivables or payables (i)&nbsp;set forth in Section&nbsp;8.07(a) of the Sellers Disclosure Schedule, or (ii)&nbsp;arising under any Intercompany
Agreement set forth in Section&nbsp;8.07(b) or Section&nbsp;8.07(c) of the Sellers Disclosure Schedule. To the extent that the amount of any such outstanding intercompany loan, note, advance, receivable or payable cannot be determined by Sellers or
the Transferred Companies or any of their respective Affiliates concurrently with the Closing, such intercompany loan, note, advance, receivable or payable shall be paid in full by Sellers or the Transferred Companies or any of their respective
Affiliates (as applicable) following the Closing within ten (10)&nbsp;days of receipt of an invoice detailing the amount due with respect to such intercompany loan, note, advance, receivable or payable. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(b) Sellers shall, and shall cause their Affiliates to, take such actions as may be necessary to terminate or commute, concurrently with the
Closing, all Intercompany Agreements such that, following the Closing, the Transferred Companies shall not have any further Liability under such Intercompany Agreements; <U>provided</U>, <U>however</U>, that this <U>Section&nbsp;8.07(b)</U> shall
not apply to those Intercompany Agreements set forth on Section&nbsp;8.07(b) of the Sellers Disclosure Schedule. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(c) Sellers shall, and
shall cause their Affiliates to, take such actions as may be necessary to amend, concurrently with the Closing, those Intercompany Agreements set forth in Section&nbsp;8.07(c) of the Sellers Disclosure Schedule, in the manner set forth therein. </P>

 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">111 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Section&nbsp;8.08 <U>Guarantees</U>. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(a) From and after the date hereof, Sellers and Purchaser shall use their reasonable best efforts to obtain, on or prior to the Closing, the
termination of, and full release of Sellers and their Affiliates (other than the Transferred Companies), as applicable, from any and all obligations arising under, the guarantees, keepwells, letters of credit, indemnity or contribution agreements,
support agreements or insurance surety bonds set forth in Section&nbsp;8.08(a) of the Sellers Disclosure Schedule (each, a &#147;<U>Sellers Guaranty</U>&#148;). </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(b) With respect to each Sellers Guaranty for which Sellers and Purchaser do not obtain the termination of such Sellers Guaranty prior to the
Closing, Purchaser or an Affiliate of Purchaser shall, concurrently with the Closing, enter into a hold harmless agreement with respect to each such Sellers Guaranty in a form reasonably acceptable to Sellers and Purchaser. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(c) Notwithstanding <U>Section&nbsp;8.08(b)</U>, in each case at the Closing, (i)&nbsp;with respect to the guarantee set forth in
Section&nbsp;8.08(c)(i) of the Sellers Disclosure Schedule, Purchaser shall deliver to Sellers a duly executed counterpart of the Guarantee Hold Harmless and Indemnification Agreement and (ii)&nbsp;with respect to the guarantee set forth in
Section&nbsp;8.08(c)(ii) of the Sellers Disclosure Schedule, the Counterparties shall deliver to Sellers a duly executed counterpart of the Counterparties Hold Harmless and Indemnification Agreement. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Section&nbsp;8.09 <U>Company Extraordinary Transactions</U>.&nbsp;Following the Closing, Purchaser shall not (i)&nbsp;permit the Company to
consolidate or merge with or into any unaffiliated third party as a result of which transaction Purchaser no longer owns at least a majority of the economic and voting power of the Company, or (ii)&nbsp;sell, convey, transfer or otherwise dispose
of, directly or indirectly, more than a majority of the economic or voting power of the Company without Reinsurer&#146;s prior written consent; <U>provided</U>, that no such consent shall be required in connection with a transaction pursuant to
clauses (i)&nbsp;or (ii)&nbsp;to the extent, in the case of clause (i), the surviving company, or in the case of clause (ii), the purchaser, has a financial strength rating issued by Standard and Poor&#146;s (or a successor thereof) of
&#147;AA-&#148; or higher (or a comparable successor rating). For the avoidance of doubt, the foregoing shall not in any way limit the freedom of Purchaser or Purchaser Parent to engage in any transactions relating to economic or voting securities
of Purchaser. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Section&nbsp;8.10 <U>Transferred Investment Assets</U>. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(a) Within five (5)&nbsp;Business Days after the date hereof, Sellers shall provide to (i)&nbsp;Purchaser a true, complete and correct list of
all Investment Assets (other than the COLI Investment Assets and Investment Assets held in the Life Separate Accounts) owned by, or held in trust for the benefit of, the Company as of the date hereof (except with respect to the Specified Investment
Assets, which are as at December&nbsp;31, 2017) (the &#147;<U>Company Investment Assets</U>&#148;) and (ii)&nbsp;Reinsurer a true, complete and correct list of all Investment Assets (other than Investment Assets held in the Life Separate Accounts)
held in respect of the Reinsured Contracts as of the date hereof (except with respect to the Specified Investment Assets, which are as at December&nbsp;31, 2017) (the &#147;<U>Life Investment Assets</U>&#148; and together with the &#147;<U>Company
Investment Assets</U>,&#148; the &#147;<U>Transferred Investment Assets</U>&#148;). </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">112 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(b) From the date hereof until the Closing, the Company shall not sell, transfer, pledge or
otherwise dispose of any Transferred Investment Assets except (i)&nbsp;with respect to any Transferred Investment Asset held in a portfolio supporting any Transferred Business, to fund cash and cash equivalent requirements arising out of the
operation of the applicable Transferred Business, (ii)&nbsp;to the extent necessary to effect the Restructuring Transactions, the transfers contemplated by <U>Article&nbsp;II</U> or the substitution of Specified Investment Assets contemplated by
<U>Section&nbsp;8.10(f)</U> below, (iii)&nbsp;to manage the credit risk related to an Transferred Investment Asset to the extent the Company or an investment advisor of the Company reasonably determines that such Transferred Investment Asset has or
may be subject to credit-related impairments or credit-related losses in value, (iv)&nbsp;to comply with any call rights, preemptive rights, rights of first offer, rights of first refusal or similar rights, in each case pursuant to the terms of such
Transferred Investment Assets or (v)&nbsp;to cause the Transferred Investment Assets to be in compliance with the requirements of the Investment Guidelines and applicable Law. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(c) From the date hereof until the Closing, the Company shall invest and reinvest the Transferred Investment Assets in compliance with the
Investment Guidelines. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(d) The Company shall, within ten (10)&nbsp;Business Days following the end of each calendar month (or in the case
of year-end, twenty (20)&nbsp;Business Days) from the date hereof until the Closing, deliver to Purchaser, (i)&nbsp;a list of the Investment Assets (other than COLI Investment Assets) held by the Company, (ii)&nbsp;a list of the Investment Assets
(other than COLI Investment Assets) sold or otherwise disposed of during the preceding month, the reason in clause (a)&nbsp;for such sale or disposition, and a description of the original cost and tax basis and (iii)&nbsp;a list of the Investment
Assets (other than COLI Investment Assets) acquired by the Company during the preceding month. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(e) The Company shall, within ten
(10)&nbsp;Business Days following the end of each calendar month (or in the case of year-end, twenty (20)&nbsp;Business Days) from the date hereof until the Closing, deliver to Reinsurer, (i)&nbsp;a list of the Investment Assets held by the Company
in respect of the Life Business, (ii)&nbsp;a list of the Investment Assets in respect of the Life Business sold or otherwise disposed of during the preceding month, the reason in clause (a)&nbsp;for such sale or disposition, and a description of the
original cost and tax basis and (iii)&nbsp;a list of the Investment Assets in respect of the Life Business acquired by the Company during the preceding month. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(f) Notwithstanding the foregoing, with respect to the Investment Assets set forth on Section&nbsp;8.10(f)(i) of the Sellers Disclosure
Schedule (the &#147;<U>Specified Investment Assets</U>&#148;), Sellers may substitute the Investment Assets set forth on Section&nbsp;8.10(f)(ii) of the Sellers Disclosure Schedule at Sellers&#146; sole option. Purchaser shall, and shall cause its
Affiliates to, reasonably cooperate and assist, at Sellers&#146; direction (<U>provided</U> that Purchaser and its Affiliates shall not be required to bear costs and expenses to third parties in connection with such cooperations and assistance),
with respect to the re-registration or re-titling of the Specified Investment Assets, if necessary. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(g) With respect to any Contracts
related to an Transferred Investment Asset, the parties shall use reasonable best efforts to (i)&nbsp;in the case of such Transferred Investment Assets transferred to Purchaser or Reinsurer (either directly or to the Trust Account on
Reinsurer&#146;s behalf) pursuant to this Agreement, effect mutually agreeable alternative arrangements designed </P>
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to provide Purchaser or Reinsurer, as applicable, with substantially similar rights and benefits that would have accrued to Purchaser or Reinsurer, as applicable, had such consent, approval,
waiver or agreement been obtained and (ii)&nbsp;in the case of Transferred Investment Assets transferred to Purchaser or Reinsurer (either directly or to the Trust Account on Reinsurer&#146;s behalf) pursuant to this Agreement, obtain all consents,
approvals, waivers and agreements necessary to assign, novate or otherwise transfer such Contracts to Purchaser or Reinsurer, as applicable; <U>provided</U> that to the extent that any such consent, approval, waiver or agreement necessary to assign,
novate or otherwise transfer any contract is not obtained, Sellers, on the one hand, and Purchaser or Reinsurer, as applicable, on the other hand, shall use reasonable best efforts to effect mutually agreeable alternative arrangements designed to
provide Purchaser or Reinsurer, as applicable, with substantially similar rights and benefits that would have accrued to Purchaser or Reinsurer, as applicable, had such consent, approval, waiver or agreement been obtained. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Section&nbsp;8.11 <U>Use of Names; Cooperation</U>. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(a) Other than the Transferred Intellectual Property, none of Purchaser, Reinsurer or any of their respective Affiliates are purchasing,
acquiring or otherwise obtaining any right, title or interest in any Intellectual Property of Sellers or their Affiliates, including the Names and Marks (except as expressly set forth in this <U>Section&nbsp;8.11</U>). None of Purchaser, Reinsurer
or any of their respective Affiliates shall seek to register in any jurisdiction any of the Names and Marks, any Trademark confusingly similar thereto, or any Trademark that incorporates a representation of all or a portion of the Statue of Liberty,
nor shall any of the foregoing contest the use, ownership, validity or enforceability of any rights of Sellers or any of their Affiliates in or to any of the Names and Marks. Except as expressly set forth in this <U>Section&nbsp;8.11</U>,
(i)&nbsp;neither Purchaser, Reinsurer nor any of their respective Affiliates shall have any rights in or to the Names and Marks, and (ii)&nbsp;Purchaser, for itself and its Affiliates, agrees that any and all rights of the Transferred Businesses to
use the Names and Marks pursuant to any written agreements or arrangements with Sellers or their Affiliates (other than the Transaction Agreements) shall terminate on the Closing Date without recourse. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(b) Except as otherwise expressly permitted in this <U>Section&nbsp;8.11</U> or in any Ancillary Agreement, Purchaser, Reinsurer and their
respective Affiliates shall (i)&nbsp;cease and discontinue all uses of the Names and Marks immediately upon the Closing; and (ii)&nbsp;not expressly, or by implication, do business as or represent themselves as Sellers or their Affiliates. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(c) Within sixty (60)&nbsp;days after the Closing, Purchaser shall file for approval all required regulatory approvals of or relating to the
merger of the Company with and into Purchaser or an Affiliate of Purchaser (the &#147;<U>Internal Merger</U>&#148;), and Purchaser shall take all necessary steps to effect the Internal Merger as soon as practicable after such required approvals have
been obtained. The Affiliate into which Purchaser merges the Company may not include any of the Names and Marks in its legal name, corporate name or business name. If Purchaser has not received all required regulatory approvals for the Internal
Merger by the end of the fifteenth (15th)&nbsp;month after Closing, or if the Internal Merger is not otherwise complete by such time, Purchaser shall, at the end of such fifteenth (15th)&nbsp;month, make all required filings and pay any requisite
fees necessary, and shall apply for their certificates of incorporation or change of name (or equivalent organizational documents) and business registration certificate or licenses, </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">114 </P>


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as applicable, to be amended, pass the requisite shareholders&#146; resolutions and board resolutions, pay all requisite fees to change the legal names, corporate names and business names of the
Transferred Companies to remove any reference to the Names and Marks, in all jurisdictions, and shall effect such changes as soon as practicable after any required approvals have been obtained. In each of the foregoing cases, Purchaser shall use
reasonable best efforts to diligently pursue the approvals described in this Section and shall, as promptly as reasonably practicable, take any and all follow-up actions that may be required or requested by any Governmental Authority to promptly
effect the Internal Merger and the changes of names described in this Section. For the avoidance of doubt, in no event will Reinsurer be required to take any actions, including entering into any Contract or amend or modify any existing Contract
(including the Reinsurance Agreement), or incur any Liabilities whatsoever, in connection with the Internal Merger. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(d) Other than the use
of the Names and Marks in the name of the Transferred Companies as permitted under <U>Section&nbsp;8.11(c)</U>, and such related uses of the name of the Transferred Companies as are required by Law or are otherwise necessary to identify the
Transferred Companies in communications with third parties, and except for such uses as are permitted under <U>Section&nbsp;8.11(i)</U> or <U>Section&nbsp;8.11(k)</U>, Purchaser will discontinue all uses of the Names and Marks within (i)&nbsp;thirty
(30)&nbsp;days after Closing, with respect to any advertising, promotional materials, packaging, inventory, collateral goods, stationery, envelopes, checks, business cards, product and service literature and materials and other materials
(collectively, &#147;<U>Hard Materials</U>&#148;) existing in inventory as of the Closing or generated by Purchaser, its Affiliates or third parties after the Closing, (ii)&nbsp;sixty (60)&nbsp;days after Closing with respect to any Hard Materials
generated by Sellers or their Affiliates on behalf of any Transferred Company, provided that Sellers shall implement Purchaser&#146;s reasonable and timely requests to alter such Materials to remove or replace the Names and Marks within such sixty
(60)&nbsp;day period, and (iii)&nbsp;as promptly as practicable after the Closing but in any event within twelve (12)&nbsp;months after the Closing, with respect to any software, electronic materials, website content, invoices, receipts, forms, and
training materials (together with Hard Materials, &#147;<U>Materials</U>&#148;<U>)</U>. After the Closing, to the extent that any approval is required by Law to discontinue any such uses, Purchaser shall seek such approvals within ten
(10)&nbsp;Business Days after becoming aware of such requirement, shall use reasonable best efforts to discontinue such uses within the timeframes described above and, if a required regulatory approval is not obtained within those timeframes, shall
use reasonable best efforts to diligently pursue such approval until such approval is secured. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(e) Except as otherwise provided in this
<U>Section&nbsp;8.11</U> or in any Ancillary Agreement, Purchaser shall, from the date hereof until the Marks Transition Date, have a limited, personal, non-exclusive, non-transferable, non-sublicensable, royalty-free license to use the Names and
Marks, as described in and/or for the purposes described in this <U>Section&nbsp;8.11</U>, in connection with the Transferred Businesses in substantially the same manner as such Materials were used as of the Closing in all material respects. Any
goodwill arising from the use of the Names and Marks as described in this <U>Section&nbsp;8.11</U> shall inure to the benefit of Sellers and their Affiliates. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(f) Purchaser, for itself and its Affiliates, agrees that (i)&nbsp;use of the Names and Marks during the period authorized by this
<U>Section&nbsp;8.11</U> shall only be with respect to Materials existing in inventory at Closing or reprints thereof, without alteration other than to remove the Names and Marks, and not be for any materials or services introduced after the Closing
(including any </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">115 </P>


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marketing or advertising materials or product, training or service literature developed following the Closing), (ii)&nbsp;the Materials and all services offered in connection therewith shall be
of a level of quality equal to or greater than the quality of the materials and services with respect to which the Transferred Businesses used the Names and Marks immediately prior to Closing and (iii)&nbsp;during the period in which Purchaser or
its Affiliates uses any of the Names and Marks as permitted under this <U>Section&nbsp;8.11</U>, neither Purchaser nor its Affiliates shall take or fail to take any action which, as a result of such action or failure to take such action, would
reasonably be expected to have a material adverse effect on the value of any of the Names and Marks or the goodwill of Sellers and their Affiliates associated therewith, <U>provided</U> that neither Purchaser nor its Affiliates shall be deemed to
have violated this provision through any action or inaction that is taken in the ordinary course of business consistent with Purchaser&#146;s practices operating under the &#147;Lincoln&#148; Trademark. Purchaser, Reinsurer and Sellers shall each
take all reasonable actions to ensure that any third Persons using the Names and Marks on behalf of any Transferred Company, whose rights terminate upon the Closing pursuant to this <U>Section&nbsp;8.11</U> shall cease use of the Names and Marks,
except as expressly authorized thereafter by Sellers. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(g) To the extent that any Transferred Company, or, solely in their capacity as
successors to the rights of a Transferred Company or a Transferred Business, Purchaser, Reinsurer or any of their Affiliates, owns any rights in or to any Names and Marks, including any registrations or applications for registrations thereof in any
jurisdiction, Purchaser or Reinsurer, as applicable, shall, or shall cause the Transferred Company or its Affiliate, as applicable, to, as soon as practicable after discovery or notice of such fact, at Sellers&#146; option, either (i)&nbsp;abandon
all such rights in and to such Names and Marks, including abandoning any such registrations and applications for registrations, or (ii)&nbsp;assign all such rights in and to such Names and Marks, including any such registrations and applications for
registrations, to Sellers or an Affiliate of Sellers. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(h) Reinsurer shall, from the date hereof until the later of (x)&nbsp;ten
(10)&nbsp;Business Days after Purchaser has completed the Internal Merger or changed the name of the Transferred Companies to remove the Names and Marks as described in <U>Section&nbsp;8.11(e)</U> and (y)&nbsp;December&nbsp;31, 2018, have a limited,
personal, non-exclusive, non-transferable, sublicensable (solely to permitted subcontractors pursuant to the Administrative Services Agreement in substantially the same manner in which Sellers and its Affiliates operated the Life Business as of the
Closing), royalty-free, paid up license to use the Names and Marks solely as necessary to provide services under the Administrative Services Agreement or as otherwise necessary to operate the Life Business in substantially the same manner in which
Sellers and their Affiliates performed such services and operated such Life Business as of the Closing. Any goodwill arising from the use of the Names and Marks as described in this <U>Section&nbsp;8.11(h)</U> shall inure to the benefit of Sellers
and their Affiliates. Reinsurer, for itself and its Affiliates, agrees that (i)&nbsp;the use of the Names and Marks during the period authorized by this <U>Section&nbsp;8.11(h)</U> and all services offered in connection therewith shall be of a level
of quality equal to or greater than the quality of the services with respect to which the Sellers and their Affiliates used the Names and Marks immediately prior to Closing, and (iii)&nbsp;during the period in which Reinsurer or its Affiliates uses
any of the Names and Marks as permitted under this <U>Section&nbsp;8.11(h)</U>, neither Reinsurer nor its Affiliates shall take or fail to take any action which action which, as a result of such action or failure to take action, might reasonably be
expected to have a material adverse effect on the value of any of the Names and Marks or the goodwill of Sellers and their Affiliates associated therewith, provided that neither Reinsurer nor its Affiliates shall be deemed to have violated this
provision through any action or inaction that is taken in the ordinary course of business consistent with Reinsurer&#146;s practices operating under the &#147;Protective&#148; Trademark as of the date hereof. </P>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(i) Without limitation to any other remedies, if Purchaser, Reinsurer or their respective
Affiliates fail to comply with the foregoing terms and conditions or otherwise fail to comply with any reasonable direction of Sellers or any of their Affiliates in relation to the use of the Names and Marks, Sellers shall be entitled to a
temporary, preliminary or permanent injunction or other equitable relief in accordance with <U>Section&nbsp;14.10</U>. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(j) For the
avoidance of doubt, but without limiting Sellers&#146; or their Affiliates&#146; rights and remedies under applicable Laws relating to Trademarks, nothing in this <U>Section&nbsp;8.11</U> shall be deemed to require Purchaser, Reinsurer or their
respective Affiliates to alter their use of Trademarks owned and used by any of the foregoing prior to the Closing. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(k) Notwithstanding
anything to the contrary in the foregoing, Purchaser, Reinsurer and the Transferred Companies shall be entitled to refer to the name of Sellers or their Affiliates indefinitely as required by applicable Law, or as reasonably necessary in regulatory
filings, or otherwise in a non-promotional manner for purposes of historical reference. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Section&nbsp;8.12 <U>Employee
Non-Solicitation</U>. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(a) Each of Purchaser and Purchaser Parent hereby covenants and agrees that for a period from the date hereof
(except as set forth in <U>Section&nbsp;9.01</U>) until the date which is twenty-four (24)&nbsp;months following the Closing Date neither it nor any of its Affiliates shall, (i)&nbsp;without the prior written consent of Sellers, directly or
indirectly, solicit for employment, employ, hire, or enter into an agency or consulting relationship with any of the personnel employed by Sellers or their Affiliates set forth on Section&nbsp;8.12(a) of the Sellers Disclosure Schedule, both during
such employment and following a termination of employment that is not a Liberty Qualifying Termination or (ii)&nbsp;without the prior written consent of Reinsurer, directly or indirectly, solicit for employment, employ, hire, or enter into an agency
or consulting relationship with any Transferred Life Employee; <U>provided</U>, <U>however</U> that this <U>Section&nbsp;8.12(a)</U> shall not apply to any personnel of Sellers or their Affiliates or any Transferred Life Employee employed as
administrative assistants. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(b) Each of Reinsurer and Reinsurer Parent hereby covenants and agrees that for a period from the date hereof
(except as set forth in <U>Section&nbsp;9.02(a)</U>) until the date which is twenty-four (24)&nbsp;months following the Closing Date neither it nor any of its Affiliates shall, (i)&nbsp;without the prior written consent of Sellers, directly or
indirectly, solicit for employment, employ, hire or enter into an agency or consulting relationship with any personnel employed by Sellers or their Affiliates set forth on Section&nbsp;8.12(b) of the Sellers Disclosure Schedule, both during such
employment and following a termination of employment that is not a Liberty Qualifying Termination or (ii)&nbsp;without the prior written consent of Purchaser, directly or indirectly solicit for employment, employ, hire, or enter into an agency or
consulting relationship with any Group Benefits Employee or Shared Employee who received an offer of employment from Purchaser or its Affiliates pursuant to <U>Section&nbsp;9.01(a)</U>; <U>provided</U>, <U>however</U> that this
<U>Section&nbsp;8.12(b)</U> shall not apply to any personnel of Sellers or their Affiliates or any Transferred Group Benefits Employee employed as administrative assistants. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">117 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(c) Each of Sellers and LMGI hereby covenants and agrees that, for a period from the date hereof
until the date which is twenty-four (24)&nbsp;months following the Closing Date (or such other periods as specified <U>Section&nbsp;8.12(f)</U> or <U>Section&nbsp;8.12(g)</U>, as applicable), neither it nor any of its Affiliates shall,
(i)&nbsp;without the prior written consent of Purchaser, directly or indirectly solicit for employment, employ after the Closing Date, hire, or enter into an agency or consulting relationship with (x)&nbsp;any Group Benefits Employee to whom
Purchaser has made an offer pursuant to <U>Section&nbsp;9.01(a)</U> or (y)&nbsp;any individuals listed on Section&nbsp;8.12(c) of the Purchaser Disclosure Schedule, other than, in the case of clause&nbsp;(x) for individuals who experience a Group
Benefits Qualifying Termination, and in the case of clause (y)&nbsp;for individuals who are no longer employed by Purchaser Parent, or (ii)&nbsp;without the prior written consent of Reinsurer, directly or indirectly, solicit for employment, employ
after the Closing Date, hire, or enter into an agency or consulting relationship with (x)&nbsp;any Life Employee to whom Reinsurer has made an offer pursuant to <U>Section&nbsp;9.02(a)</U> and (y)&nbsp;any individuals listed on Section&nbsp;8.12(c)
of the Reinsurer Disclosure Schedule, other than, in the case of clause&nbsp;(x) for individuals who experience Life Qualifying Terminations, and in the case of clause (y)&nbsp;for individuals who are no longer employed by Reinsurer Parent;
<U>provided</U>, <U>however</U>, that this <U>Section&nbsp;8.12(c)</U> shall not apply to any personnel of Purchaser or its Affiliates or to any personnel of Reinsurer or its Affiliates employed as administrative assistants, including any such
administrative assistants who become Transferred Group Benefits Employees or Transferred Life Employees. For the avoidance of doubt, in no event will Reinsurer be required to enter into any Contract or amending or modifying any existing Contract
(including the Reinsurance Agreement) in connection with the Internal Merger. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(d) Each of Purchaser and Purchaser Parent and Reinsurer and
Reinsurer Parent hereby covenants and agrees that in the event this Agreement is terminated at any time prior to the Closing, for a period of twelve (12)&nbsp;months from and including the date of such termination, neither they nor any of their
Affiliates shall, without the prior written consent of Sellers, directly or indirectly, (i)&nbsp;employ, hire or enter into an agency relationship with (A)&nbsp;any personnel of Sellers or their Affiliates set forth on <U>Section&nbsp;8.12(a)</U> of
the Sellers Disclosure Schedule, (B)&nbsp;any Business Employee who receives an annual salary equal to or greater than $100,000, or (C)&nbsp;any Key Employee (as defined in the Confidentiality Agreement between LMGI and Purchaser Parent) who is as
of such date or, within the three (3)&nbsp;month period prior to any such employment, hiring or agreement, was employed by, or under contract with, Sellers or their Affiliates; or (ii)&nbsp;actively solicit for employment any Business Employee who
receives an annual salary less than $100,000; <U>provided</U>, <U>however</U>, that the restrictions set forth in <U>Section&nbsp;8.12(d)(i)(B)</U> or <U>Section&nbsp;8.12(d)(ii)</U> shall not apply to any Business Employee who ceases to be employed
by Sellers or their Affiliates for a period of three (3)&nbsp;months. Each of Sellers and LMGI hereby covenant and agree that in the event this Agreement is terminated at any time prior to the Closing, for a period of twelve (12)&nbsp;months from
and including the date of such termination, neither Sellers nor any of their Affiliates shall, without the prior written consent of Purchaser, directly or indirectly, solicit for employment, employ, hire or enter into an agency relationship with any
individuals listed on <U>Section&nbsp;8.12(d)</U> of the Purchaser Disclosure Schedule. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">118 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(e) Nothing in this <U>Section&nbsp;8.12</U> shall prohibit any party from making general
solicitations not targeted at such persons (including through the use of recruiting firms not directed at such persons) or advertisement in any newspaper, magazine, trade publication, electronic medium or other media; <U>provided</U>,
<U>however</U>, that, for the avoidance of doubt, the applicable provisions of this <U>Section&nbsp;8.12</U> shall continue to apply to any person who responds to such solicitation. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(f) <U>Section&nbsp;8.12(c)</U> shall apply to the individuals listed on <U>Section&nbsp;8.12(f)</U> of the Sellers Disclosure Schedule,
<U>provided</U> that the period of time during which this <U>Section&nbsp;8.12(f)</U> shall apply to each such individual shall be from the date hereof until the date which is thirty (30)&nbsp;months following the Closing Date for any such
individual who voluntarily terminates his or her employment other than for &#147;Good Reason&#148; as defined in the applicable Retention Incentive Bonus Letter. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(g) <U>Section&nbsp;8.12(c)</U> shall apply to the individuals listed on Section&nbsp;8.12(g) of the Sellers Disclosure Schedule, provided that
the period of time during which <U>Section&nbsp;8.12(c)</U> shall apply to each such individual shall be from the date hereof until the date which is (i)&nbsp;twelve (12)&nbsp;months from the date of termination if any such individual voluntarily
terminates his or her employment within eighteen (18)&nbsp;months of the Closing Date other than for Good Reason, as defined in the applicable Retention Incentive Bonus Letter, or (ii)&nbsp;thirty (30)&nbsp;months following the Closing Date for any
such individual whose employment is terminated on or after the eighteen (18)&nbsp;month anniversary of the Closing Date, unless such individual is involuntarily terminated or voluntarily terminates his or her employment for Good Reason, as defined
in the applicable Retention Incentive Bonus Letter. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Section&nbsp;8.13 <U>No Financing Condition</U>. Notwithstanding anything to the
contrary in this Agreement or in any of the Ancillary Agreements, each of Purchaser and Reinsurer acknowledges and agrees that its obligations to effect the transactions contemplated by this Agreement and the Ancillary Agreements are not conditioned
upon the availability to Purchaser or Reinsurer, or any of their respective Affiliates, of any debt, equity or other financing in any amount whatsoever. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Section&nbsp;8.14 <U>Restructuring Transactions</U>. Prior to the Balance Sheet Date, Sellers shall, and shall cause their respective
Affiliates to, cause each of the actions or transactions described on Section&nbsp;8.14 of the Sellers Disclosure Schedule to be consummated (such actions and transactions, collectively, the &#147;<U>Restructuring Transactions</U>&#148;). </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Section&nbsp;8.15 <U>Further Assurances</U>. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(a) The parties shall, and shall cause their applicable Affiliates to, negotiate in good faith prior to the Closing (or, with respect to the
Distribution Agreement, for up to sixty (60)&nbsp;days following the Closing) to finalize the terms of the Ancillary Agreements and the schedules, exhibits, annexes and ancillary agreements thereto. Each party shall, and shall cause its respective
Affiliates to, execute and deliver the Ancillary Agreements to which it is a party at or prior to the Closing (other than the Distribution Agreement if the parties thereto have not agreed upon the final terms thereof). </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">119 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(b) Following the Closing, subject to the terms of this Agreement, each of the parties shall, and
shall cause its Affiliates to, take all reasonable actions and promptly execute, acknowledge and deliver any additional documents, papers, certificates, instruments or conveyances reasonably requested by a party to further perfect or evidence the
consummation of, or otherwise implement, any transactions contemplated by this Agreement or the Ancillary Agreements, or to aid in the preparation of any regulatory filing or financial statement; <U>provided</U>, <U>however</U>, that any such
additional documents must be reasonably satisfactory to each of the parties. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(c) If, following the Closing and prior to the date that is
eighteen (18)&nbsp;months following the expiration or termination of the Company Transition Services Agreement, any right, property, asset or Contract exclusively used in the Group Benefits Business (other than any Excluded Asset) is found to have
been retained by Sellers or any of their Affiliates in error, Sellers shall, or shall cause their applicable Affiliate to transfer, at no cost to Purchaser, such right, property or asset as soon as reasonably practicable to Purchaser or as directed
in writing by Purchaser. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(d) If, following the Closing and prior to the date that is eighteen (18)&nbsp;months following the expiration or
termination of the Reinsurer Transition Services Agreement, any right, property, asset or Contract exclusively used in the Life Business (other than any Excluded Asset) is found to have been retained by Sellers or any of their Affiliates in error,
Sellers shall, or shall cause their applicable Affiliate to transfer, at no cost to Reinsurer, such right, property or asset as soon as reasonably practicable to Reinsurer or as directed in writing by Reinsurer. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(e) Sellers shall, and shall cause their Affiliates to, use reasonable best efforts to obtain all authorizations and approvals to enable
Sellers or their Affiliates to issue Accident and Health Individual Products prior to or promptly following the Closing Date. Purchaser shall cause the Affiliate into which Purchaser merges the Company pursuant to the Internal Merger to use
reasonable best efforts to obtain approvals from any applicable Governmental Authority of the continued use following the Internal Merger of all forms and rates and all marketing materials, brochures and certificates pertaining thereto used in
connection with the Accident and Health Individual Products (in the case of an Internal Merger occurring prior to December&nbsp;31, 2019) and the Liberty Legacy Products (in the case of an Internal Merger occurring prior to December&nbsp;31, 2018)
immediately prior to the Internal Merger, in each case at Sellers&#146; expense; <U>provided</U> that, notwithstanding the foregoing, Purchaser shall not be required to delay the Internal Merger to obtain any such approvals. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Section&nbsp;8.16 <U>Acquisition Proposals</U>. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(a) From the date of this Agreement through the earlier of the Closing Date or the termination of this Agreement, Sellers and their Affiliates
shall not, and shall cause their Representatives and the Transferred Companies not to, directly or indirectly (i)&nbsp;solicit, initiate, support, encourage, facilitate or accept any inquiries, proposals, offers or other indications of interest by
or from any Person other than Purchaser, Reinsurer and their respective Affiliates acting together (the &#147;<U>Acquisition Parties</U>&#148;) with respect to an Acquisition Proposal, (ii)&nbsp;enter into, maintain, continue or otherwise
participate in any discussions, conversations, negotiations or other communications with any Person other than the Acquisition Parties with respect to an </P>
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Acquisition Proposal, (iii)&nbsp;furnish or confirm any information to any Person other than the Acquisition Parties in connection with an Acquisition Proposal, (iv)&nbsp;otherwise assist,
facilitate or encourage the making of, or cooperate in any way regarding, any inquiry, proposal, offer, request or other indication of interest by or from any Person other than the Acquisition Parties with respect to an Acquisition Proposal, or
(v)&nbsp;enter into any term sheet, letter of intent, agreement or other non-binding or binding understanding or arrangement (whether oral or written) with, or accept or agree to any offer or proposal by or from, any Person other than the
Acquisition Parties with respect to an Acquisition Proposal. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(b) From the date of this Agreement through the earlier of the Closing Date
or the termination of this Agreement, Sellers and each of their Affiliates shall, and shall cause the Transferred Companies and their Representatives to, cease and terminate immediately any existing activities, discussions or negotiations with
respect to or in furtherance of any Acquisition Proposal with any Person other than the Acquisition Parties. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(c) For purposes of this
<U>Section&nbsp;8.16</U>, &#147;<U>Acquisition Proposal</U>&#148; means any of the following transactions, whether direct or indirect (but excluding, in each case, this Agreement and the other Transaction Agreements and the transactions contemplated
hereby and thereby): (i)&nbsp;any acquisition, purchase or other transaction involving the direct or indirect sale or transfer of all or any part of the Transferred Businesses or Acquired Assets (excluding sales of Investment Assets in the ordinary
course of business) of the Company, or any of the equity interests of the Transferred Companies, (ii)&nbsp;any merger, consolidation, business combination, reorganization, dissolution, recapitalization or similar transaction involving the
Transferred Companies, (iii)&nbsp;any bulk reinsurance, reinsurance, coinsurance or similar transaction involving all or any part of the business of the Transferred Companies or the Life Business (other than the Reinsurance Agreement), (iv)&nbsp;the
issuance of any security exercisable or convertible into, or exchangeable or redeemable for, capital stock of the Transferred Companies or (v)&nbsp;the granting of any rights, warrants, options, calls or commitments to acquire capital stock of the
Transferred Companies. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Section&nbsp;8.17 <U>Non-Compete</U>. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(a) For a period of thirty-six (36)&nbsp;months from the Closing (the &#147;<U>Non-Compete Period</U>&#148;), each of Sellers and LMGI agrees,
for the benefit of Purchaser, not to, and shall cause each of the Persons who are as of the date hereof or in the future may become Affiliates (each, a &#147;<U>Restricted Person</U>&#148;) not to, directly or indirectly, engage in the United States
in the business of: underwriting, marketing, selling, issuing, administering, reinsuring or distributing Restricted Products (a &#147;<U>Competing Business</U>&#148;). &#147;<U>Restricted Products</U>&#148; means Group Policies written with respect
to long term disability, short term disability, leave and life insurance; <U>provided</U>, <U>however</U>, for the avoidance of doubt, &#147;Restricted Products&#148; shall not include any Accident and Health Products. A Restricted Person shall not
include: (i)&nbsp;any Person that purchases or receives assets, operations or a business from Sellers or one of their Affiliates, if such Person is not an Affiliate of Sellers after such transaction is consummated; (ii)&nbsp;any Person who is not an
Affiliate of Sellers who acquires, directly or indirectly, any minority equity interest in Sellers or any of their Affiliates; or (iii)&nbsp;any Person who holds equity interests in an Affiliate of Sellers, <U>provided</U> that such Person is not an
Affiliate of Sellers. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">121 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(b) Notwithstanding anything to the contrary set forth in <U>Section&nbsp;8.17(a)</U>, and
without implication that the following activities otherwise would be subject to the provisions of this <U>Section&nbsp;8.17</U>, nothing in this Agreement shall preclude, prohibit or restrict Sellers or LMGI from engaging, or require Sellers or LMGI
to cause any Restricted Person not to engage, in any manner in any of the following: </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(i) maintaining or making investments
in the ordinary course of business, including in a general or separate account of an insurance company, in an investment fund or other investment vehicle or investments by any employee benefit plan or trust of Sellers, LMGI or their Affiliates, in
Persons engaging in a Competing Business; <U>provided</U> that each such investment is a passive investment whereby the applicable Seller, LMGI or Restricted Person: (A)&nbsp;does not have the right to designate a majority of the members of the
board of directors or other governing body of such entity or to otherwise influence or direct the operation or management of any such entity; (B)&nbsp;is not a participant with any other Person in any group (as such term is used in Regulation 13D of
the Exchange Act) with such intention or right; or (C)&nbsp;owns less than fifteen percent (15%)&nbsp;of the outstanding voting securities (including convertible securities) of such entity; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(ii) selling any of its assets or businesses to a Person engaged in lines of business that compete with the Competing Business,
<U>provided</U> that neither such Person nor any of its Affiliates acquires any right to market or operate under the Names and Marks at any time prior to the third (3rd)&nbsp;anniversary of the Closing Date; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(iii) managing, controlling, advising or providing administrative or similar services to investment funds or other investment
vehicles that make investments in Persons engaging in a Competing Business, <U>provided</U> that (A)&nbsp;the aggregate revenues of any such Person engaging in a Competing Business on a gross written premiums basis constitute no more than
(i)&nbsp;one hundred million dollars ($100,000,000) or (ii)&nbsp;if such revenues are greater than one hundred million dollars ($100,000,000), twenty-five percent (25%)&nbsp;of the aggregate gross revenues on a consolidated basis of such Person, in
each case in the most recently completed fiscal year and (B)&nbsp;any such investment funds or other investment vehicles shall not acquire any right to market or operate under the Names and Marks at any time prior to the third (3rd)&nbsp;anniversary
of the Closing Date; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(iv) providing investment management, investment advisory or similar services to any Person; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(v) (A)&nbsp;underwriting, marketing, selling, issuing, administering or distributing any insurance products other than
insurance products constituting Restricted Products or (B)&nbsp;without limitation of the foregoing, engaging in or otherwise conducting any Retained Business that is not a Competing Business; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(vi) providing reinsurance to any Person (including any Person engaging in a Competing Business); <U>provided</U> that Sellers
and the Restricted Persons are not engaged in designing, underwriting or manufacturing a Competing Business; </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">122 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(vii) effecting an acquisition, merger or other combination with any Person, or
entering into a Qualifying Joint Venture or engaging in any business that would otherwise violate this <U>Section&nbsp;8.17</U> as a result of a transaction with such Person after the Closing Date (an &#147;<U>After-Acquired Business</U>&#148;) and
thereafter continuing in such business; <U>provided</U> that at the time of such acquisition, merger or other combination, the aggregate revenues derived from the Competing Business by the After-Acquired Business on a gross written premiums basis
(the &#147;<U>Competing After-Acquired Revenues</U>&#148;) constitute no more than (A)&nbsp;one hundred million dollars ($100,000,000), or (B)&nbsp;if such revenues are greater than one hundred million dollars ($100,000,000), twenty-five percent
(25%)&nbsp;of the gross revenues on a consolidated basis of the After-Acquired Business, in each case in the most recently completed fiscal year immediately prior to the date of such acquisition, merger or other combination; <U>provided</U>,
<U>further</U>, that (I)&nbsp;any such After-Acquired Business shall not market or operate under the Names and Marks at any time prior to the third (3rd)&nbsp;anniversary of the Closing Date and (II) Sellers, LMGI or such Restricted Person shall not
cause the year-over-year growth in Competing After-Acquired Revenues of any After-Acquired Business to exceed five percent (5%); </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(viii) underwriting, marketing, selling, issuing, administering or distributing any products or services (other than Restricted
Products) in the ordinary course of business to or on behalf of any Person engaged in a Competing Business; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(ix)
underwriting, marketing, selling, issuing, administering or distributing individual life or annuity insurance policies through any channel (including through any captive agents of LMGI, Sellers or their Affiliates); </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(x) (A)&nbsp;purchasing or otherwise obtaining any products (including Restricted Products) or services in the ordinary course
of business from a Person engaged in a Competing Business or (B)&nbsp;self-insuring or self-reinsuring any Restricted Products; or </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(xi) subject to <U>Section&nbsp;8.02(f)</U>, continuing to engage in any activities or businesses engaged in (except for a
Competing Business), or continuing to provide any products or services provided (except for Restricted Products), as of the date of this Agreement, by Sellers or their Affiliates (other than the Transferred Companies). </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(c) Notwithstanding anything to the contrary contained herein, this <U>Section&nbsp;8.17</U> shall terminate and cease to be effective
(i)&nbsp;immediately with respect to a Restricted Person (other than LMGI or a Seller) upon a Change of Control of such Restricted Person involving an acquiring Person that, immediately prior to such Change of Control, is not an Affiliate of LMGI or
a Seller and (ii)&nbsp;immediately with respect to LMGI or a Seller upon a Change of Control of LMGI or such Seller, as applicable to the extent that the acquiring Person operates independently of LMGI or such Seller and no part of LMGI or such
Seller is integrated with the acquiring Person&#146;s Competing Business other than pursuant to an enumerated exception herein; <U>provided</U> that upon such Change of Control, such acquiring Person shall not acquire any right to market or operate
under the Names and Marks at any time prior to the third (3rd)&nbsp;anniversary of the Closing; <U>provided</U>, <U>further</U>, that upon such Change of Control such acquiring Person shall not otherwise continue to be a Restricted Person.
&#147;<U>Change of Control</U>&#148; means the occurrence of one of the following events: (a)&nbsp;if any Person, if such Person is not an Affiliate of Sellers after such </P>
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transaction is consummated, shall, directly or indirectly, acquire beneficial ownership of more than fifty percent (50%)&nbsp;of the voting securities of LMGI, Sellers or a Restricted Person, as
applicable, then issued and outstanding (or, in the event that Sellers or LMGI, as applicable, own less than fifty percent (50%)&nbsp;of the voting securities of a Restricted Person, such Person, after such transaction is consummated, shall,
directly or indirectly, acquire such beneficial ownership percentage of such Restricted Person so as to cause such Restricted Person to no longer be an Affiliate of Sellers or LMGI, as applicable); (b)&nbsp;the consummation of a merger,
consolidation, binding share exchange or other business combination of LMGI, Sellers or a Restricted Person, as applicable, into or with another Person in which the stockholders of LMGI, Sellers or a Restricted Person, as applicable, immediately
prior to the consummation of such transaction shall own less than fifty percent (50%)&nbsp;of the voting securities of the surviving Person (or the parent of the surviving Person where the surviving Person is wholly owned by the parent Person)
immediately following the consummation of such transaction; or (c)&nbsp;the consummation of the sale, transfer, lease or other disposition (but not including a transfer, lease or other disposition by pledge or mortgage to a bona fide lender) of all
or substantially all of the assets of LMGI, Sellers or a Restricted Person, as applicable, to a Person other than an Affiliate of LMGI or Sellers. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(d) Notwithstanding anything to the contrary contained herein, prior to the third (3rd)&nbsp;year anniversary of the Closing, no Restricted
Person shall use, or license to a third party for use, or knowingly permit such Restricted Person&#146;s Controlled Affiliates or any Person to use, the Names and Marks in a Competing Business. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Section&nbsp;8.18 <U>Rating Evaluation Services</U>. Prior to or promptly following the date hereof, Purchaser shall undertake a rating
evaluation service review with (a)&nbsp;Standard&nbsp;&amp; Poor&#146;s Corporation and (b)&nbsp;A.M. Best Company, Inc., in each case, at Purchaser&#146;s sole cost and expense (except with respect to the filing fee associated with A.M. Best
Company, Inc. rating evaluation service review, which shall be borne by Sellers) with respect to the ratings of the Company upon Closing as result of the transactions to be effectuated hereunder (including the Extraordinary Dividend and the issuance
or repayment of any Closing Date Surplus Note), and Sellers shall reasonably cooperate with Purchaser with respect to the foregoing. Notwithstanding anything in this Agreement to the contrary, none of Sellers, the Company nor their respective
Affiliates shall be obligated to seek confirmation of the Company&#146;s ratings as indicated in the most recent publicly available applicable report published by each rating agency prior to the date hereof. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Section&nbsp;8.19 <U>Mutual Release</U>. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(a) Effective as of the Closing, each Seller for itself and on behalf of its respective Affiliates and each of its and their respective
successors, assigns, heirs and executors (each, a &#147;<U>Seller Releasor</U>&#148;), hereby irrevocably, knowingly and voluntarily releases, discharges and forever waives and relinquishes all claims, demands, liabilities, defenses, affirmative
defenses, setoffs, counterclaims, actions and causes of action of whatever kind or nature, whether known or unknown, which any Seller Releasor has, may have or might have or may assert now or in the future, against the Transferred Companies and
their respective successors and assigns (each, a &#147;<U>Purchaser Releasee</U>&#148;), arising out of, based upon or resulting from any matter, cause or thing whatsoever, whether known or unknown, and which occurred, existed, was taken, permitted
or begun at or prior to the Closing; <U>provided</U> that nothing in this <U>Section&nbsp;8.19(a)</U> shall release, discharge, waive or otherwise affect the rights or obligations of any party to the extent related to
</P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">124 </P>


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or arising out of (i)&nbsp;any rights under this Agreement or any other Transaction Agreement (including the Guarantee Hold Harmless and Indemnification Agreement and the Counterparties Hold
Harmless and Indemnification Agreement), (ii)&nbsp;any rights under any Contract with respect to any Intercompany Agreement which remains in effect following the Closing in accordance with the provisions of this Agreement or (iii)&nbsp;any Sellers
Guaranty to the extent not terminated and fully released pursuant to <U>Section&nbsp;8.08</U>. The foregoing release shall not apply to any claim arising under the terms of any Transaction Agreement. Each Seller Releasor shall, and shall cause each
of its Affiliates to, refrain from, directly or indirectly, asserting any claim or demand or commencing, instituting or maintaining, or causing to be commenced, instituted or maintained any legal or arbitral proceeding of any kind against any
Purchaser Releasee based upon any matter released pursuant to this <U>Section&nbsp;8.19(a)</U>. The parties hereto hereby acknowledge and agree that the execution of this Agreement shall not constitute an acknowledgment of or an admission by any
Seller Releasor or Purchaser Releasee of the existence of any such claims or of liability for any matter or precedent upon which any liability may be asserted. Sellers acknowledge and agree that the payment of the aggregate consideration pursuant
hereto, and the covenants set forth in this Agreement, represent good and sufficient consideration for every promise, duty, release, obligation, agreement and right contained in this <U>Section&nbsp;8.19(a)</U>. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(b) Effective as of the Closing, the Transferred Companies and each of their respective successors, assigns, heirs and executors (each, a
&#147;<U>Purchaser Releasor</U>&#148;), hereby irrevocably, knowingly and voluntarily releases, discharges and forever waives and relinquishes all claims, demands, liabilities, defenses, affirmative defenses, setoffs, counterclaims, actions and
causes of action of whatever kind or nature, whether known or unknown, which any Purchaser Releasor has, may have or might have or may assert now or in the future, against any of Sellers and their Affiliates and their respective successors and
assigns (each, a &#147;<U>Seller Releasee</U>&#148;), arising out of, based upon or resulting from any matter, cause or thing whatsoever, whether known or unknown, and which occurred, existed, was taken, permitted or begun at or prior to the
Closing; <U>provided</U> that nothing in this <U>Section&nbsp;8.19(b)</U> shall release, discharge, waive or otherwise affect the rights or obligations of any party to the extent related to or arising out of (i)&nbsp;any rights under this Agreement
or any other Transaction Agreement (including the Guarantee Hold Harmless and Indemnification Agreement and the Counterparties Hold Harmless and Indemnification Agreement), (ii)&nbsp;any rights under any Contract with respect to any Intercompany
Agreement which remains in effect following the Closing in accordance with the provisions of this Agreement or (iii)&nbsp;any Sellers Guaranty to the extent not terminated and fully released pursuant to <U>Section&nbsp;8.08</U>. The foregoing
release shall not apply to any claim arising under the terms of any Transaction Agreement. Each Purchaser Releasor shall, and shall cause each of its Affiliates to, refrain from, directly or indirectly, asserting any claim or demand or commencing,
instituting or maintaining, or causing to be commenced, instituted or maintained any legal or arbitral proceeding of any kind against any Seller Releasee based upon any matter released pursuant to this <U>Section&nbsp;8.19(b)</U>. The parties hereto
hereby acknowledge and agree that the execution of this Agreement shall not constitute an acknowledgment of or an admission by any Purchaser Releasor or Seller Releasee of the existence of any such claims or of liability for any matter or precedent
upon which any liability may be asserted. Purchaser acknowledges and agrees that the payment of the aggregate consideration pursuant hereto, and the covenants set forth in this Agreement, represent good and sufficient consideration for every
promise, duty, release, obligation, agreement and right contained in this <U>Section&nbsp;8.19(b)</U>. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">125 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Section&nbsp;8.20 <U>Replacements</U>. Except as set forth on Section&nbsp;8.20 of the Sellers
Disclosure Schedule, from and after the date hereof, including after the Closing, LMGI and Sellers shall not, and shall cause each of their respective Affiliates not to, without the prior written consent of Reinsurer, directly or indirectly solicit
any holder of, or any beneficiary or insured under, any Reinsured Contract in connection with any Program of Internal Replacement, (it being understood that Sellers are not responsible and shall not be liable for any independent action taken by any
brokers or Producers other than employees of Sellers or their Affiliates). As used herein, the term &#147;<U>Program of Internal Replacement</U>&#148; means any program that is initiated, maintained, sponsored or supported by LMGI, either Seller or
any of their respective Affiliates to offer on a targeted basis to any or all policyholders, contractholders, beneficiaries or insureds under Reinsured Contracts to exchange any such Reinsured Contract or any portion thereof for another Policy that
is written by LMGI, either Seller, the Company or any Affiliate of any of them but is not a Reinsured Contract. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Section&nbsp;8.21
<U>Extraordinary Dividend</U>. Sellers shall, and shall cause their Affiliates to use reasonable best efforts to take such actions as may be necessary to permit the Company to pay to Sellers the Extraordinary Dividend at or immediately prior to the
Closing. In connection with the foregoing, if (a)&nbsp;requested by (i)&nbsp;a Governmental Authority responsible for the regulation of the Extraordinary Dividend or (ii)&nbsp;Standard&nbsp;&amp; Poor&#146;s Corporation or A.M. Best Company, Inc. or
(b)&nbsp;otherwise required to consummate the transactions contemplated hereby (including the release of the guarantee set forth in Section&nbsp;8.08(c)(i) of the Sellers Disclosure Schedule), Purchaser shall enter into, effective as of the Closing,
a guarantee of the obligations of the Company that is reasonably acceptable to (i)&nbsp;each Governmental Authority responsible for the regulation of the Extraordinary Dividend and such guarantee and (ii)&nbsp;each of Standard&nbsp;&amp; Poor&#146;s
Corporation and A.M. Best Company, Inc. In the event that a Governmental Authority indicates that it will not approve the Extraordinary Dividend without an increase in the Company&#146;s surplus, at Purchaser&#146;s election (in its sole
discretion), the Company will issue to Purchaser on the Closing Date (but before the Closing) the Closing Date Surplus Note in exchange for a cash purchase price, payable by Purchaser, equal to the principal amount of the Closing Date Surplus Note.
The Closing Date Surplus Note, if any, shall have the terms mutually agreed to by Purchaser and the Company at the time of issuance. Purchaser shall, and shall cause the Company to, take all actions necessary for the Company to redeem and repay in
full the Closing Date Surplus Note effective immediately following the Closing, by wire transfer of immediately available funds to the account designated by Purchaser of an amount equal to the principal amount of the Closing Date Surplus Note. Upon
such payment, Purchaser shall cancel and surrender the Closing Date Surplus Note to the Company and cooperate with the Company to effect the cancellation of such Closing Date Surplus Note immediately following such payment. Notwithstanding the
foregoing, in the event that Purchaser withdraws its request for the Extraordinary Dividend (and, for the avoidance of doubt, if Purchaser withdraws its request for the Extraordinary Dividend Purchaser shall notify Sellers of such withdrawal) or the
Closing Date Surplus Note (if any), Sellers shall have no obligations in respect of such Extraordinary Dividend or Closing Date Surplus Note hereunder. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">126 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Section&nbsp;8.22 <U>Legacy Products</U>. During the DA Transition Period, except as required by
applicable Law, Purchaser shall not, and shall cause its Affiliates not to, modify any of the Liberty Legacy Products or substitute other life insurance or annuity products for any of the Liberty Legacy Products, in each case without the prior
written consent of Sellers and Reinsurer. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Section&nbsp;8.23 <U>Discovered Contracts</U>. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(a) For a period of (i)&nbsp;thirty six (36)&nbsp;months following the Closing Date with respect to all Reinsured Contracts for which premium
payment thereunder is scheduled and periodic and (ii)&nbsp;sixty (60)&nbsp;months following the Closing Date with respect to all other Reinsured Contracts, if the Company or Reinsurer discovers any Reinsured Contracts that it has a good faith basis
for asserting were not taken into account in the Final Statement of Net Settlement (each such Reinsured Contract not so taken into account, a &#147;<U>Discovered Contract</U>&#148;), Purchaser shall cause the Company to promptly notify Sellers and
Reinsurer, or Reinsurer shall promptly notify Sellers and the Company, as applicable, regarding such Discovered Contract, which notice shall be accompanied by supporting evidence, which may include the Updated Seriatim File and Post-Closing Seriatim
File, reasonably sufficient to establish that such Reinsured Contract was not taken into account in the Final Statement of Net Settlement. For purposes of the requirement set forth in the preceding sentence, with respect to any Reinsured Contract
written prior to the date of the Updated Seriatim File or the Post-Closing Seriatim File, as applicable, the fact that such Reinsured Contract is not listed on the Updated Seriatim File or the Post-Closing Seriatim File, as applicable, shall be
presumed evidence sufficient to establish that such Reinsured Contract was not taken into account in the Final Statement of Net Settlement; <U>provided</U>, <U>however</U>, that Sellers may rebut such presumption through evidence demonstrating that
such Reinsured Contract was taken into account in the Final Statement of Net Settlement. Upon establishing that a Reinsured Contract constitutes a Discovered Contract, as soon as reasonably practicable thereafter, Reinsurer shall calculate the
Discovered Contract Transfer Amount for such Discovered Contract and provide such calculation (with reasonable supporting detail) to Sellers and the Company (a &#147;<U>Discovered Contract Notice</U>&#148;).&nbsp;Subject to
<U>Section&nbsp;8.23(f)</U>, Sellers shall pay to Reinsurer in cash an aggregate amount equal to such Discovered Contract Transfer Amount within thirty (30)&nbsp;days after Reinsurer&#146;s delivery of such Discovered Contract Notice to Sellers.
</P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(b) If Sellers have a good faith objection to the calculation of the Discovered Contract Transfer Amount set forth in the Discovered
Contract Notice, within ten (10)&nbsp;Business Days following receipt of such Discovered Contract Notice, Sellers shall deliver written notice of such objection to Reinsurer, with a copy to the Company. If Sellers deliver a notice of objection in
respect of a Discovered Contract Notice, the parties shall seek to resolve such objection within five (5)&nbsp;Business Days. If Sellers and Reinsurer are unable to reach resolution on a Discovered Contract Notice within five (5)&nbsp;Business Days
following Sellers&#146; delivery of such notice of objection, Reinsurer or Sellers may submit the dispute to an Independent Actuary for final determination. For the avoidance of doubt, all other disputes with respect to Discovered Contracts,
including as to whether a Policy constitutes a Discovered Contract, shall be settled pursuant to <U>Section&nbsp;14.06</U>. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">127 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(c) Upon referral of any dispute pursuant to <U>Section&nbsp;8.23(b)</U> to an Independent
Actuary, each party to such dispute shall enter into a customary engagement letter with such Independent Actuary. In addition to the foregoing, each party shall reasonably cooperate with such Independent Actuary and provide, upon the request of such
Independent Actuary, any non-privileged information and documentation, including any accountants&#146; work papers or internal accounting records or reserving papers, files and models, and make reasonably available to such Independent Actuary such
personnel that have been involved in applicable components of the Discovered Contract Notice or related notice of objection, as applicable; <U>provided</U>, <U>however</U>, that the independent accountants and outside actuaries, as applicable, of
each party to such dispute shall not be obligated to make any working papers available to such Independent Actuary unless and until such Independent Actuary has signed a customary confidentiality and hold harmless agreement relating to such access
to working papers in form and substance reasonably acceptable to such independent accountants or outside actuaries, as applicable. Any such information and documentation provided by a party to such Independent Actuary shall concurrently be provided
to the other party or parties to the dispute to the extent not already so provided; <U>provided</U>, <U>however</U>, that the independent accountants and outside actuaries of each party to the dispute, as applicable, shall not be obligated to make
any working papers available to a party unless and until such party has signed a customary confidentiality and hold harmless agreement relating to such access to working papers in form and substance reasonably acceptable to such independent
accountants or outside actuaries, as applicable. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(d) The parties shall instruct the Independent Actuary to (i)&nbsp;comply with and adhere
to the requirements of this Agreement, including the definitions contained herein and the Schedules attached hereto (including the Statement of Net Settlement Methods, the Final Statement of Net Settlement Walk and, to the extent applicable, the
Balance Sheet Methods and Final Balance Sheet Walk) and (ii)&nbsp;as respects any amount set forth in a Discovered Contract Notice that is in dispute, not assign a value that is (A)&nbsp;greater than the greatest value for such item claimed by
either (I)&nbsp;Reinsurer in a Discovered Contract Notice or (II) Sellers or Reinsurer in any initial or supplemental materials delivered to the Independent Actuary pursuant to <U>Section&nbsp;8.23(c)</U> or (B)&nbsp;less than the smallest value for
such item claimed by either (I)&nbsp;Reinsurer in a Discovered Contract Notice or (II) Sellers or Reinsurer in any initial or supplemental materials delivered to the Independent Actuary pursuant to <U>Section&nbsp;8.23(c)</U>. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(e) The determination of the Independent Actuary shall be final and binding upon the parties and any changes to a Discovered Contract Notice
shall be incorporated by reference therein; <U>provided</U>, <U>however</U>, Sellers or Reinsurer may request that the Independent Actuary correct any clerical, typographical or computational errors in its decision within three (3)&nbsp;Business Day
of the delivery of such decision to such party. The fees of such Independent Actuary shall be borne equally by the parties to the dispute. For the avoidance of doubt, the Independent Actuary shall act as an expert, not as an arbitrator, and neither
the determination of the Independent Actuary, nor this agreement to submit to the determination of the Independent Actuary, shall be subject to or governed by the Federal Arbitration Act, 9 B.S.C. &#167; 1 et seq., or any state arbitration Law or
regime. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(f) The aggregate amount of all Losses for which Sellers, on a several and not joint basis, shall be liable pursuant to
<U>Section&nbsp;13.03</U> (other than <U>Section&nbsp;13.03(d)</U>), <U>Section&nbsp;8.23</U> and <U>Section&nbsp;10.01(b)</U> shall not exceed the Aggregate Ceding Commission. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">128 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Section&nbsp;8.24 <U>Filing Cooperation</U>. Between the date hereof and the Closing Date,
Sellers shall provide, and shall cause the Company to provide, and following the Closing Date, Purchaser shall provide, and shall cause the Company to provide, reasonable cooperation in connection with (i)&nbsp;the filing by Purchaser, Reinsurer or
any of their respective Affiliates of any registration statement or other documents under the Securities Act, (ii)&nbsp;the satisfaction by Purchaser, Reinsurer or any of their Affiliates of any of its reporting obligations under, and in compliance
with, the Exchange Act, and (iii)&nbsp;the preparation of any prospectus, private placement memorandum or other offering document to be used in connection with any public offering, private placement or other financing transaction of Purchaser,
Reinsurer or any of their Affiliates, in each case as may be reasonably requested by Purchaser or Reinsurer, as applicable, including by preparing and furnishing to Purchaser or Reinsurer upon its reasonable request any audited or unaudited
financial statement, audit reports or other financial information or data with respect to pre-Closing periods of the Company or the Life Business, in each case, to the extent reasonably available to Sellers, the Company or their respective
Affiliates through the exercise of reasonable best efforts. Purchaser or Reinsurer, as applicable, shall promptly, upon request by Sellers, reimburse Sellers and their Affiliates, as applicable, for all reasonable, documented, out-of-pocket costs
and expenses incurred by Sellers, the Company or their respective Affiliates, as applicable, in connection with the cooperation contemplated by this <U>Section&nbsp;8.24</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Section&nbsp;8.25 <U>Appraisals</U>. From and after the date hereof, Sellers shall, and shall cause their Affiliates to, promptly notify
Purchaser in the event that the Specified Actuary issues a new or revised Group Benefits Actuarial Report. From and after the date hereof, Sellers shall, and shall cause their Affiliates to, promptly notify Reinsurer in the event the Specified
Actuary issues a new or revised Life Actuarial Report or any errata with respect to the Life Actuarial Report (and shall promptly deliver a copy of any new or revised Life Actuarial Report or errata with respect to a Life Actuarial Report to
Reinsurer), or notifies Sellers or any of their Affiliates that the Life Actuarial Report is inaccurate. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Section&nbsp;8.26 <U>Reinsurance
Contracts</U>. From the date hereof until the Closing, in the event that the Company receives written, or to the Knowledge of Sellers, oral notice of a proposed increase in the reinsurance rates payable under any Reinsurance Contract pursuant to
which liabilities of a Reinsured Contract are ceded, Sellers shall cause the Company to (a)&nbsp;promptly provide Reinsurer written notice of such proposed increase and copies of any related written correspondence from the reinsurer under such
Reinsurance Contract and (b)&nbsp;provide Reinsurer an opportunity to consult with the Company with respect to the decision of whether to accept, negotiate or contest such proposed rate increase applicable to such Reinsurance Contract. In
furtherance of the foregoing, Sellers shall cause (i)&nbsp;the Company to furnish a copy of any proposed written response or other written communications to Reinsurer under the applicable Reinsurance Contract with respect to the proposed rate
increase, and Reinsurer shall have a reasonable opportunity to provide comments thereon, which comments shall be considered in good faith by the Company, and (ii)&nbsp;the Company to provide Reinsurer reasonable prior written notice of the time and
place when any meetings, telephone calls or other communications may be held with the applicable reinsurer in respect of the reinsurance rates payable thereunder and to provide Reinsurer the opportunity to attend and participate in any such meeting,
telephone call or other communication. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">129 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Section&nbsp;8.27 <U>Barco</U>. From and after the date hereof, including after the Closing,
except as necessary to effectuate the transactions contemplated by or otherwise expressly required by this Agreement or the other Transaction Agreements (including to the extent required to effect the Restructuring Transactions), as required by
applicable Law or Order or with the prior written consent of Purchaser and Reinsurer, which consent shall not be unreasonably withheld, conditioned or delayed (it being understood that Purchaser and Reinsurer shall provide their respective consent
for any actions set forth in this <U>Section&nbsp;8.27</U> that would not (x)&nbsp;increase the risk profile or Liabilities of Barco or (y)&nbsp;increase the obligations of Reinsurer pursuant to the annuity Policies to which Barco is a party), LMGI
shall, and shall cause its Affiliates to, comply with the provisions set forth below (the &#147;<U>Specified Provisions</U>&#148;) with respect to Barco: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(a) not conduct any business or activities other than the performance of its obligations under (i)&nbsp;the Contracts to which Barco is a party
as of the date hereof, (ii)&nbsp;any applicable Restructuring Agreements or (iii)&nbsp;any other Contract entered into with the consent of Purchaser and Reinsurer pursuant to this <U>Section&nbsp;8.27</U> (the &#147;<U>Barco Contracts</U>&#148;);
not enter into, or permit any of its assets to be subject to, any Contract other than the Barco Contracts and any tax sharing agreement on reasonable terms that is generally applicable to all members of the consolidated tax group to which LMGI is a
party; and not hire or engage any new employees or independent contractors, other than the firm or firms set forth on Section&nbsp;8.27(a) of the Sellers Disclosure Schedule for the purposes stated thereon, which firm or firms may be replaced upon
reasonable consultation with Purchaser and Reinsurer; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(b) not create, incur, assume or permit to exist any Encumbrance on any of its
property or assets, or assign or sell any income or revenues (including accounts receivable) or rights in respect thereof, nor incur or guarantee any indebtedness for borrowed money; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(c) comply in all material respects with all applicable Laws of, all applicable restrictions imposed by, and all material permits and licenses
issued by, any Governmental Authority applicable to Barco; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(d) comply in all material respects with all of the terms and conditions of,
and its obligations under, and enforce in the same manner it would with an unaffiliated party, and not waive or assign, all of its rights and remedies under the Barco Contracts; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(e) not (i)&nbsp;permit Barco to consolidate or merge with or into any Person, or (ii)&nbsp;sell, convey, transfer or otherwise dispose of,
directly or indirectly, any of Barco&#146;s assets or securities to any other Person in any transaction or series of transactions, in each case, other than any such consolidation, merger, transaction or series of transactions with LMGI or any of its
Affiliates that would not (x)&nbsp;increase the risk profile or Liabilities of Barco or (y)&nbsp;increase the obligations of Reinsurer, including under the annuity Policies to which Barco is a party; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(f) enter into any other transactions or series of transactions such that Barco would no longer be a direct or indirect wholly owned subsidiary
of LMGI or its Affiliates; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(g) not pay any dividends or other distributions with respect to Barco&#146;s Capital Stock; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(h) not permit Barco to purchase, redeem or otherwise acquire for value any of Barco&#146;s Capital Stock; </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">130 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(i) not approve or take any other action to cause, and not permit, Barco to, (i)&nbsp;dissolve or
liquidate, or institute proceedings to be adjudicated bankrupt or insolvent, (ii)&nbsp;institute or consent to the institution of any bankruptcy, rehabilitation or insolvency proceedings against it, (iii)&nbsp;file a petition seeking, or consent to,
reorganization or relief under any applicable Law relating to any bankruptcy, rehabilitation or insolvency, (iv)&nbsp;seek or consent to the appointment of a receiver, liquidator, assignee, trustee, sequestrator, custodian, rehabilitator or any
similar official for Barco, (v)&nbsp;make any assignment for the benefit of creditors of Barco, (vi)&nbsp;admit in writing its inability to pay its debts generally as they become due or (vii)&nbsp;take any action in furtherance of any of the
foregoing; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(j) maintain the Net Worth Maintenance Agreement in full force and effect, perform and comply with any and all obligations,
covenants or agreements thereunder in accordance with its terms and not amend, modify, supplement or assign the Net Worth Maintenance Agreement; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(k) not permit Barco to form or acquire, or cause to be formed or acquired, any Subsidiary; and </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(l) at all times do or cause to be done all things necessary to preserve, renew and keep in full force and effect its legal existence and the
rights, licenses, permits, privileges and franchises material to the conduct of its business, except that, as soon as reasonably practicable following the expiration or termination of all of the Barco Contracts, Barco shall be liquidated and
dissolved. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Section&nbsp;8.28 <U>License</U>. Sellers, for themselves and on behalf of their Subsidiaries, hereby grant Purchaser and
Reinsurer and their respective Affiliates a worldwide, non-exclusive, royalty-free, paid up, perpetual, freely sublicensable (including through multiple tiers), freely assignable, irrevocable license to reproduce, copy, use, make use of, market,
sell and make any derivative works of the Licensed Liberty IP, in source code and object code formats. The license described in this <U>Section&nbsp;8.28</U> is granted &#147;as is,&#148; with all faults and without liability of any kind. Except as
set forth in the Company Transition Services Agreement, neither Sellers nor their Affiliates shall have any obligation to support or provide error correction or other maintenance services with respect to the Licensed Liberty IP. Upon
Purchaser&#146;s or Reinsurer&#146;s written request after the Closing, Sellers shall deliver the Licensed Liberty IP and any embodiments thereof in the source code and object code formats in which Sellers or their Affiliates maintain such Licensed
Liberty IP and embodiments in a reasonable manner agreed in writing by Sellers and Purchaser or Reinsurer, as applicable. Following such delivery, neither Sellers nor their Affiliates shall have any obligation to re-deliver such Licensed Liberty IP
to Purchaser, Reinsurer or their Affiliates, except to the extent necessary or useful to receive the Services pursuant to the Company Transition Services Agreements. If, prior to the expiration of the Company Transition Services Agreements with both
Purchaser and Reinsurer, Sellers determine that they no longer require rights in or to any of the Licensed Liberty IP, Sellers shall if so requested by Purchaser or Reinsurer, as applicable, in writing, assign and transfer all of their rights in
such Licensed Liberty IP to Purchaser or Reinsurer, as applicable at no cost. As between the parties, the developer of any modification or other derivative work of the Licensed Liberty IP after Closing shall own all Intellectual Property rights in
such modification or derivative work, subject to the applicable party&#146;s or their respective Affiliates&#146; rights in the underlying Licensed Liberty IP. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">131 </P>


<p Style='page-break-before:always'>
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 <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Section&nbsp;8.29 <U>Purchaser-Reinsurer License</U>. Purchaser, for itself and on behalf of its
Subsidiaries, hereby grants to Reinsurer and its Affiliates a worldwide, non-exclusive, royalty-free, paid up, perpetual, freely sublicensable (including through multiple tiers), freely assignable, irrevocable license to reproduce, copy, use, make
use of, market, sell and make any derivative works of the Licensed Lincoln IP, in source code and object code formats in connection with the Life Business. Purchaser shall, upon Reinsurer&#146;s written request, deliver to Reinsurer such source code
and object code (to the extent in Purchaser&#146;s or its Affiliates&#146; possession) as necessary to effectuate this license; <U>provided</U> that Purchaser shall not be required to provide any such source code or object code (x)&nbsp;not owned by
the Transferred Companies as of the Closing Date or (y)&nbsp;to the extent not included in the Transferred Group Benefits Intellectual Property. The license described in this <U>Section&nbsp;8.29</U> is granted &#147;as is,&#148; with all faults and
without liability of any kind. Except as set forth in the Life Business Transition Services Agreement, neither Purchaser nor its Affiliates shall have any obligation to support or provide error correction or other maintenance services with respect
to the Licensed Lincoln IP. Upon Reinsurer&#146;s written request after the Closing, Purchaser shall deliver the Licensed Lincoln IP and any embodiments thereof in the source code format in which such Licensed Lincoln IP and embodiments have been
maintained in a reasonable manner agreed in writing by Purchaser and Reinsurer. Following such delivery, neither Purchaser nor its Affiliates shall have any obligation to re-deliver such Licensed Lincoln IP to Reinsurer or its Affiliates except to
the extent necessary or useful to receive the Services pursuant to the Life Business Transition Services Agreement. If, prior to the expiration of the Life Business Transition Services Agreement, Purchaser determines in its sole discretion that it
no longer requires the rights in or to any of the Licensed Lincoln IP or related hardware or equipment, or if Reinsurer identifies any such hardware and equipment that it believes is used solely in the Life Business and Purchaser so agrees in
writing, Purchaser shall if so requested by Reinsurer in writing, assign and transfer all of its rights in such Licensed Lincoln IP and/or related hardware and equipment to Reinsurer, and Reinsurer shall reimburse all of Purchaser&#146;s reasonable,
documented, out-of-pocket costs and expenses in connection with such assignment and transfer. As between the parties, the developer of any modification or other derivative work of the Licensed Lincoln IP after Closing shall own all Intellectual
Property rights in such modification or derivative work, subject to the applicable party&#146;s or its Affiliate&#146;s rights in the underlying Licensed Lincoln IP. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Section&nbsp;8.30 <U>Updates to Seriatim File</U>. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(a) <I>Updated Seriatim File</I>. At or prior to the Closing, Sellers shall provide Reinsurer with a disc containing the Updated Seriatim File.
</P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(b) <I>Post-Closing Seriatim File</I>. Purchaser shall use reasonable best efforts to provide, as soon as reasonably practicable following
the Closing, Reinsurer and Sellers with a disc containing an updated list of all Reinsured Contracts as of the Closing Date and, to the extent practicable, an update to the Updated Seriatim File (the &#147;<U>Post-Closing Seriatim File</U>&#148;),
containing a list of all Reinsured Contracts as of the Effective Time and of the attributes of such policies set forth in Section&nbsp;5.03(e) of the Sellers Disclosure Schedule. Each of Sellers and Purchaser makes no representation or warranty with
respect to the Post-Closing Seriatim File and shall have no liability to any other party with respect to its contents or the accuracy thereof. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">132 </P>


<p Style='page-break-before:always'>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>ARTICLE&nbsp;IX </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>EMPLOYEE MATTERS </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Section&nbsp;9.01 <U>Group Benefits Employee Matters</U>. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(a) <I>Offers of Employment</I>. Following the date hereof, Sellers shall provide Purchaser with updated versions of Sections&nbsp;4.27(c) and
4.27(e) of the Sellers Disclosure Schedule no less frequently than monthly to reflect new hires, terminations or other personnel changes, in each case, as permitted under <U>Section&nbsp;8.01(a)(xii)</U> occurring between the date hereof and the
date of such update, and shall provide a final updated version of each such Section no later than twenty-five (25)&nbsp;Business Days prior to the anticipated Closing Date (collectively, the &#147;<U>Final Group Benefits Employee Census</U>&#148;).
No later than fifteen (15)&nbsp;Business Days prior to the Closing Date, Purchaser shall, or shall cause its Affiliates to, extend a Comparable Offer of Employment with Purchaser or one of its Affiliates to each Group Benefits Employee set forth in
the Final Group Benefits Employee Census, with each such offer to be contingent on the Group Benefits Employee being continuously employed by Sellers through the Closing Date (or such later date contemplated by <U>Section&nbsp;9.01(a)(ii)</U>) and
commencing active employment with Purchaser or its Affiliates on the Closing Date (or such later date contemplated by <U>Section&nbsp;9.01(a)(ii)</U>), and with respect to any Inactive Group Benefits Employee or Alien Group Benefits Employee,
subject to the additional conditions set forth in <U>Sections 9.01(a)(ii)</U> and <U>Section&nbsp;9.01(a)(iii)</U> (such conditions, collectively the &#147;<U>Purchaser Employment Conditions</U>&#148;). During the period between the date hereof and
the Closing Date, Sellers shall, and shall cause their Affiliates to, reasonably cooperate with Purchaser and reasonably assist Purchaser in its efforts to extend and secure acceptances of Comparable Offers of Employment from the Group Benefits
Employees. Purchaser shall provide Sellers forms of the documents that Purchaser uses to make Comparable Offers of Employment prior to the time that such Comparable Offers of Employment are made. In the event Purchaser fails to make a Comparable
Offer of Employment to a Group Benefits Employee and the Group Benefits Employee does not become a Transferred Group Benefits Employee, Purchaser and its Affiliates shall reimburse Sellers for any resulting severance pay or benefits under the terms
of Sellers&#146; severance policy as set forth in Section&nbsp;9.01 of the Sellers Disclosure Schedule (the &#147;<U>Sellers&#146; Severance Policy</U>&#148;) within thirty&nbsp;(30) days following the receipt by Purchaser of an invoice from
Sellers; <U>provided</U> that such Group Benefits Employee&#146;s employment is terminated by Sellers within ninety (90)&nbsp;days following the Closing Date. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(i) The parties intend for the employment of each Group Benefits Employee who accepts a Comparable Offer of Employment by
Purchaser in writing prior to the Closing Date (or such later date contemplated by <U>Section&nbsp;9.01(a)(ii)</U>) and who satisfies the Purchaser Employment Conditions to continue employment uninterrupted on and after the Closing Date (or such
later date contemplated by <U>Section&nbsp;9.01(a)(ii)</U>) with Purchaser or its Affiliates (the date such Group Benefits Employee commences active employment with Purchaser or any of its Affiliates, the &#147;<U>Group Benefits Employee Transfer
Date</U>&#148;). Upon the Transfer Date, such Group Benefits Employee will become an employee of Purchaser or its Affiliate and is hereinafter referred to as a &#147;<U>Transferred Group Benefits Employee</U>.&#148; As of the Transfer Date, such
Transferred Group Benefits Employee shall terminate employment with Sellers and their Affiliates and cease to actively participate in or accrue benefits under any Group Benefits Plan (other than a Group Benefits Business Plan). </P>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(ii) With respect to any Inactive Group Benefits Employee, Purchaser&#146;s
Comparable Offer of Employment shall also be contingent on such Inactive Group Benefits Employee&#146;s return to active status within six&nbsp;(6) months following the Closing Date or such longer period as required by Law; <U>provided</U> that,
notwithstanding anything in this Agreement to the contrary, Purchaser shall not be required to make an offer of employment to any Inactive Group Benefits Employee (and shall have no obligation of any nature to hire or employ any such Inactive Group
Benefits Employee) who is receiving long-term disability benefits. Sellers or their applicable Affiliate shall continue to employ and shall remain responsible for any Liabilities related to any Inactive Group Benefits Employee (other than Inactive
Group Benefits Employees who are receiving long-term disability benefits as of the Closing Date) unless and until such individual returns to active status within six&nbsp;(6) months following the Closing Date or such longer period as required by
Law. For each Inactive Group Benefits Employee receiving long-term disability benefits as of the Closing Date who is able to return to active status within six (6)&nbsp;months following the Closing Date, Sellers and Purchaser shall reasonably
cooperate, in good faith, to determine whether an available position for such Inactive Group Benefits Employee exists at Purchaser or its Affiliates; <U>provided</U>, <U>however</U>, that Purchaser and its Affiliates shall not be required to make an
offer of employment to any such Inactive Group Benefits Employee and Sellers or their applicable Affiliate shall remain responsible for any Liabilities related to or arising out of such Inactive Group Benefits Employee&#146;s employment or
termination of employment with Sellers or their applicable Affiliate unless and until such Inactive Group Benefits Employee becomes a Transferred Group Benefits Employee. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(iii) Purchaser shall use commercially reasonable efforts to employ, or cause its Affiliates to employ, those Group Benefits
Employees who are foreign nationals working in the United States in non-immigrant status and those Group Benefits Employees for whom there are pending or approved I-140 immigrant petitions as of the Closing Date (collectively, the &#147;<U>Alien
Group Benefits Employees</U>&#148;), under terms and conditions such that Purchaser and its Subsidiaries qualify as a &#147;successor employer&#148; under applicable United States immigration Laws, including 8 U.S.C. &#167;&nbsp;1184(c)(10),
effective as of the Closing Date or such later date contemplated by <U>Section&nbsp;9.01(a)(ii)</U>. As of the day after the Closing Date, Purchaser and its Affiliates shall assume all immigration-related interests and obligations under applicable
U.S. immigration Laws with respect to such Alien Group Benefits Employees who become Transferred Group Benefits Employees and shall reimburse Sellers for any resulting severance pay or benefits in accordance with <U>Section&nbsp;9.01(a)</U> for
those Alien Group Benefits Employees who do not become Transferred Group Benefits Employees and whose employment is terminated by Sellers within ninety (90)&nbsp;days following the Closing Date. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(b) <I>Post-Closing Benefits</I>. During the period commencing on the Closing Date and ending on the earlier of December&nbsp;31, 2019 and the
date that is eighteen (18)&nbsp;months following the Closing Date (or through such earlier date as such Transferred Group Benefits Employee&#146;s employment with Purchaser or its Affiliate is terminated for any reason) (such period, the
</P>
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&#147;<U>Group Benefits Continuation Period</U>&#148;), Purchaser shall provide, or shall cause its Affiliates to provide, each Transferred Group Benefits Employee who commences employment with
Purchaser or its Affiliate on or following the Closing Date with the following: (i)&nbsp;base salary and base wages, short-term or annual incentive compensation opportunities, long-term incentive compensation opportunities and commission
opportunities that, in the aggregate, are no less than the Base Salary and Base Wages, short-term or annual incentive compensation opportunities, long-term incentive compensation opportunities and commission opportunities in effect for such
Transferred Group Benefits Employee immediately prior to the Closing Date and (ii)&nbsp;employee benefits that, in the aggregate, are no less favorable than the employee benefits, in the aggregate, provided to similarly situated employees of
Purchaser and its Affiliates as in effect from time to time (and excluding any plans in which newly hired employees are not eligible). </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(c)
<I>2018&nbsp;Short-Term Incentives for Periods Prior to the Transfer Date</I>. Without limiting the generality of <U>Section&nbsp;9.01(b)</U>, Purchaser shall provide, or shall cause its Affiliates to provide, each such Transferred Group Benefits
Employee who remains employed by Purchaser or its Affiliates on the applicable payment date with (i)&nbsp;a short-term or annual incentive opportunity with respect to the portion of 2018 that follows the Closing that is not less than the full amount
of the short-term or annual incentive opportunity provided by Sellers or their Affiliates to such Transferred Group Benefits Employee in respect of 2017, based on such Transferred Group Benefits Employee&#146;s Base Salary or Base Wages as in effect
immediately prior to the Closing Date (the &#147;<U>2018 Group Benefits Incentive</U>&#148;) or (ii)&nbsp;a commission opportunity that is not less than the commission opportunity set forth in the Distribution Incentive Arrangement applicable to
such Transferred Group Benefits Employee; <U>provided</U> that the Balance Sheet reflects an accrual with respect to such amount (to the extent not yet paid to the Transferred Group Benefits Employees) equal to the product of (A)&nbsp;the aggregate
amount of 2018 Group Benefits Incentives and the Distribution Incentive Arrangements for all Transferred Group Benefits Employees (determined under GAAP) and (B)&nbsp;a fraction, the numerator of which is the number of days in 2018 up to and
including the Closing Date and the denominator of which is three hundred sixty five (365). </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(d) <I>Severance</I>. Without limiting the
generality of <U>Section&nbsp;9.01(b)</U>, with respect to each Transferred Group Benefits Employee who incurs a Group Benefits Qualifying Termination during the Group Benefits Continuation Period, subject to the Transferred Group Benefits Employee
timely executing and not revoking a waiver and general release agreement in the form customarily used by Purchaser, pursuant to which such Transferred Group Benefits Employee shall also release and waive any and all claims against Sellers and their
Affiliates, Purchaser and its Affiliates shall provide such Transferred Group Benefits Employee with (i)&nbsp;cash severance payments that are available under either (A)&nbsp;the Sellers&#146; Severance Policy or (B)&nbsp;the Purchaser&#146;s
severance policy in which similarly situated employees of Purchaser and its Affiliates are eligible to participate as in effect from time to time, with the applicable policy to be that which provides the terminated Transferred Group Benefits
Employee the greatest cash severance amount (without regard to the value of other benefits, whether or not denominated in cash), and (ii)&nbsp;severance benefits that are available under the Purchaser&#146;s severance policy in which similarly
situated employees of Purchaser and its Affiliates are eligible to participate from time to time; <U>provided</U> that Purchaser and its Affiliates may, in their sole discretion and subject to compliance with the requirements under Section&nbsp;409A
of the Code, pay such severance payments and benefits in a lump sum in lieu of payments over time. If Purchaser or any of its </P>
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Affiliates incurs any severance liabilities pursuant to <U>Section&nbsp;9.01(d)(i)</U> in respect of a Shared Employee who incurs a Group Benefits Qualifying Termination during or upon the
conclusion of the Group Benefits Continuation Period, Sellers shall reimburse Purchaser for fifty percent (50%)&nbsp;of the amount payable pursuant to <U>Section&nbsp;9.01(d)(i)</U> within thirty (30)&nbsp;days following the receipt by Sellers of an
invoice from Purchaser. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(e) <I>401(k) Plan. </I>Without limiting the generality of the foregoing, effective no later than the Closing
Date, Purchaser or its Affiliates shall have in effect one or more defined contribution plans that include a qualified cash or deferred arrangement within the meaning of Section&nbsp;401(k) of the Code (and a related trust exempt from Tax under
Section&nbsp;501(a) of the Code) (collectively, the &#147;<U>Purchaser 401(k) Plan</U>&#148;). Each Transferred Group Benefits Employee participating in a Group Benefits Plan that is a defined contribution plan that includes a qualified cash or
deferred arrangement within the meaning of Section&nbsp;401(k) of the Code (collectively, the &#147;<U>Group Benefits 401(k) Plan</U>&#148;) immediately prior to the applicable Transfer Date shall be eligible to participate in the Purchaser 401(k)
Plan as soon as administratively practicable on or following the Transfer Date. If elected by a Transferred Group Benefits Employee in accordance with applicable Law, Purchaser shall cause the Purchaser 401(k) Plan to accept a &#147;direct
rollover&#148; to such Purchaser 401(k) Plan of the account balances of such Transferred Group Benefits Employee (including up to two (2)&nbsp;promissory notes evidencing outstanding loans) under the Group Benefits 401(k) Plan. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(f) <I>Service Credit</I>. Each Transferred Group Benefits Employee shall be credited, under the employee benefit plans of Purchaser and its
Affiliates in which Transferred Group Benefits Employees commence participation after the Transfer Date (the &#147;<U>New Benefit Plans</U>&#148;), with the same amount of service for purposes of eligibility to participate, vesting and level of
benefits as was credited by Sellers and their Affiliates as of the Closing Date under similar or comparable Group Benefits Plans (such plans, collectively, the &#147;<U>Old Plans</U>&#148;), except (i)&nbsp;for purposes of benefit accrual under
qualified and nonqualified defined benefit plans, (ii)&nbsp;for all purposes under a retiree welfare plan, (iii)&nbsp;under any benefit plan that is a frozen plan or that provides benefits to a grandfathered employee population, (iv)&nbsp;to the
extent such credit would result in a duplication of benefits, and (v)&nbsp;where prior service is not recognized for similarly situated employees of Purchaser and its Affiliates. In addition, and without limiting the generality of the foregoing,
Purchaser or its Affiliate shall use commercially reasonable efforts to: (A)&nbsp;cause, with respect to any New Benefit Plans in which the Transferred Group Benefits Employees commence to participate following the Transfer Date, each Transferred
Group Benefits Employee to be immediately eligible to participate in such New Benefit Plans, without any waiting period, to the extent coverage under such New Benefit Plans replaces coverage under an Old Plan and (B)&nbsp;for purposes of each New
Benefit Plan providing medical, dental, pharmaceutical and/or vision benefits to any Transferred Group Benefits Employee, cause all pre-existing condition exclusions of such New Benefit Plan to be waived for such Transferred Group Benefits Employee
and his or her covered dependents, to the extent any such exclusions or requirements were waived or were inapplicable under any Old Plan. Purchaser or its Affiliate shall cause any eligible expenses incurred by such Transferred Group Benefits
Employee and his or her covered dependents during the portion of the plan year of the Old Plan ending on the date such Transferred Group Benefits Employee&#146;s participation in the corresponding New Benefit Plan begins to be taken into account
under such New Benefit Plan for purposes of satisfying all deductible, coinsurance and maximum out-of-pocket requirements applicable to such Transferred </P>
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Group Benefits Employee and his or her covered dependents for the applicable plan year as if such amounts had been paid in accordance with such New Benefit Plan. Prior to and after the Closing
Date, Sellers shall, or shall cause their Affiliates and plan administrators to, provide all reasonably necessary support and information in a timely manner as may be requested by Purchaser or its Affiliates or the administrators of the New Benefit
Plans to implement this <U>Section&nbsp;9.01(f)</U>. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><I></I>(g) <I>Benefit Plan Liabilities Retained by Sellers</I>. Sellers and their
Affiliates (other than the Transferred Companies) shall retain and be solely responsible for all Liabilities under the Benefit Plans, except Purchaser and its Affiliates shall expressly assume the Liabilities under the Group Benefits Business Plan
as set forth in Section&nbsp;9.01(g) of the Sellers Disclosure Schedule. <I> </I></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><I></I>(h) <I>Welfare Benefit Claims. </I>As of the
Transfer Date, each Transferred Group Benefits Employee shall cease participation with respect to periods on and following the Transfer Date in the health and welfare benefit plans of Sellers and their Affiliates and, as of the Transfer Date, such
Transferred Group Benefits Employee shall be eligible to commence participation in the New Benefit Plans that provide health and welfare benefits. Sellers shall be responsible for all Liabilities with respect to claims incurred by Transferred Group
Benefits Employees (and their beneficiaries and covered dependents) prior to the Transfer Date under Benefit Plans that provide medical, dental, vision and prescription drug coverage, life, accidental death and dismemberment and business travel
accident insurance and disability coverage. Purchaser shall be responsible for all Liabilities with respect to claims incurred by Transferred Group Benefits Employees (and their beneficiaries and covered dependents) on and after the Transfer Date
under New Benefit Plans that provide medical, dental, vision and prescription drug coverage, life, accidental death and dismemberment and business travel accident insurance and disability coverage. For purposes of this <U>Section&nbsp;9.01(h)</U>,
the following claims shall be deemed to be incurred as follows: (i)&nbsp;with respect to short-term disability, long-term disability, life and accidental death and dismemberment benefits, upon the event giving rise to such benefits, and
(ii)&nbsp;with respect to medical, dental, vision care, prescription and health-related benefits, upon provision of medical, dental, vision, prescription and health-related services, materials or supplies. Sellers and their Affiliates (other than
the Transferred Companies) shall be responsible for providing the continuation of group health coverage required by Section&nbsp;4980B(f) of the Code to any Group Benefits Employee (and his or her qualified beneficiaries) for whom a &#147;qualifying
event&#148; within the meaning of Section&nbsp;4980B(f) of the Code occurs prior to the Transfer Date. Purchaser and its Affiliates shall be responsible for providing the continuation of group health coverage required by Section&nbsp;4980B(f) of the
Code to any Transferred Group Benefits Employee (and his or qualified beneficiaries) for whom a &#147;qualifying event&#148; within the meaning of Section&nbsp;4980B(f) of the Code occurs on or after the Transfer Date.<I> </I></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><I></I>(i) <I>Workers&#146; Compensation. </I>Sellers and their Affiliates (other than the Transferred Companies) shall be responsible for all
claims for workers&#146; compensation benefits that are incurred prior to the Transfer Date by any Transferred Group Benefits Employee. Purchaser and its Affiliates shall be responsible for all claims for workers&#146; compensation benefits that are
incurred on and after the Transfer Date by any Transferred Group Benefits Employee. A claim for workers&#146; compensation benefits shall be deemed to be incurred on the date the injury giving rise to the claim occurs.<I> </I></P>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><I></I>(j) <I>Accrued Paid Time-Off</I>. On or as soon as practicable following the applicable
Group Benefits Employee Transfer Date, Sellers shall pay all accrued but unused paid time-off for each Transferred Group Benefits Employee. During the Group Benefits Continuation Period, Purchaser shall, or shall cause its Affiliates to, provide
annual leave, vacation and paid time off benefits to Transferred Group Benefits Employees that are at least as favorable as those provided to similarly situated employees of Purchaser and its Affiliates; <U>provided</U> that Transferred Group
Benefits Employees shall begin accruing annual leave, vacation and paid time off benefits from Purchaser or its Affiliates on the applicable Group Benefits Employee Transfer Date, and shall be permitted to borrow against their annual vacation
entitlements before they are earned for the one-year period following the applicable Group Benefits Employee Transfer Date (it being understood and agreed that such borrowed amounts would be required to be repaid by such Transferred Group Benefits
Employee if such Transferred Group Benefits Employee&#146;s employment terminates prior to the applicable annual vacation entitlement having been earned), in each case, in accordance with the terms of the applicable vacation or paid time off policy
of Purchaser and its Affiliates.<I> </I></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><I></I>(k) <I>Employee Communications</I>. On and after the date hereof, any broad-based employee
notices or communication materials (including any website posting) provided to Group Benefits Employees by Sellers or their Affiliates, on the one hand, or Purchaser or its Affiliates, on the other hand, with respect to employment, compensation or
benefits matters addressed in this Agreement or related, directly or indirectly, to the transactions contemplated by this Agreement shall be subject to the prior prompt review and comment of the other party, and the party seeking to distribute any
such notice or communication shall consider in good faith revising such notice or communication to reflect any comments or advice that the other party timely provides.<I> </I></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><I></I>(l) <I>No Plans Amended; No Employment or Third Party Rights.</I> This <U>Section&nbsp;9.01</U> shall be binding upon and shall inure
solely to the benefit of each of the parties to this Agreement and no current or former employee, director or independent contractor or any other individual associated therewith shall be regarded for any purpose as a third-party beneficiary of this
Agreement. Nothing in this <U>Section&nbsp;9.01</U> or any other provision of this Agreement or any other related Contract, express or implied (i)&nbsp;shall be construed to establish, amend, or modify any Group Benefits Plan or any other benefit
plan, program, agreement or arrangement whether of Sellers or Purchaser, (ii)&nbsp;shall alter or limit the ability of Sellers or any of their Subsidiaries, or Purchaser or any of its Subsidiaries to amend, modify or terminate any benefit plan,
program, agreement or arrangement, or (iii)&nbsp;is intended to or shall confer upon any current or former employee of Sellers or their Subsidiaries or any other Person any right to employment or continued employment or service for any period of
time by reason of this Agreement or any other related agreement, or any right to a particular term or condition of employment.<I> </I></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Section&nbsp;9.02 <U>Life Employee Matters</U>. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(a) <I>Offers of Employment</I>. Following the date hereof, Sellers shall provide Reinsurer with an updated version of Section&nbsp;5.22(c) of
the Sellers Disclosure Schedule no less frequently than monthly to reflect terminations or changes in any other data, in each case, as permitted under <U>Section&nbsp;8.01(a)(xii)</U> occurring between the date hereof and the date of such update,
and shall provide a final updated version of such Section no later than thirty (30)&nbsp;Business Days prior </P>
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to the Closing Date. For the sixty (60)&nbsp;days immediately following the date hereof, Sellers shall, and shall cause their Affiliates to, provide to Reinsurer and their respective
Representatives, upon the request of Reinsurer, access to those Life Employees who are not the Life Offer Employees (the &#147;<U>Other Life Employees</U>&#148;) and such other information as Reinsurer may reasonably request from time to time to
identify and evaluate which, if any, Other Life Employees to whom a Comparable Offer of Employment will be made by Reinsurer in its sole discretion. No later than sixty (60)&nbsp;days following the date hereof (such date being the &#147;<U>Notice
Date</U>&#148;), Reinsurer shall provide Sellers with a written notice of the Other Life Employees, if any, to whom it will extend an offer of employment (each such Other Life Employee being, a &#147;<U>Selected Other Life Employee</U>&#148;). No
later than five (5)&nbsp;Business Days following the Notice Date, Reinsurer shall, or shall cause its Affiliates to, extend a Comparable Offer of Employment with Reinsurer or one of its Affiliates to each Life Offer Employee (other than any Life
Offer Employee who is on long-term disability leave as of the Closing Date) and each Selected Other Life Employee, with the offer to be contingent on the Life Offer Employee or Selected Other Life Employee being continuously employed by Sellers
through the Closing Date (or such later date as set forth on Section&nbsp;9.02(a) of the Sellers Disclosure Schedule or as contemplated by <U>Section&nbsp;9.02(a)(ii)</U>), and commencing active employment with Reinsurer or its Affiliates on the
Closing Date (or such later date as set forth on Section&nbsp;9.02(a) of the Sellers Disclosure Schedule or as contemplated by <U>Section&nbsp;9.02(a)(ii)</U>), and with respect to any Inactive Life Employee who is a Life Offer Employee or Alien
Life Employee, subject to the additional conditions set forth in <U>Section&nbsp;9.02(a)(ii)</U> and <U>Section&nbsp;9.02(a)(iii)</U>, respectively (such conditions, collectively the &#147;<U>Reinsurer Employment Conditions</U>&#148;). During the
period between the date hereof and the Closing Date, Sellers shall, and shall cause their Affiliates to, reasonably cooperate with Reinsurer and reasonably assist Reinsurer in its efforts to extend and secure acceptances of Comparable Offers of
Employment from the Life Employees to whom such offers are made. Reinsurer shall provide Sellers forms of the documents that Reinsurer uses to make Comparable Offers of Employment prior to the time that such Comparable Offers of Employment are made.
</P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(i) The date a Life Employee commences employment with Reinsurer or any of its Affiliates will be the &#147;<U>Life
Employee Transfer Date</U>&#148;. Upon the Transfer Date, such Life Employee will become an employee of Reinsurer or its Affiliate and is hereinafter referred to as a &#147;<U>Transferred Life Employee</U>.&#148; As of the Transfer Date, such
Transferred Life Employee shall terminate employment with Sellers and their Affiliates and cease to actively participate in or accrue benefits under any Life Plan (other than a Life Business Plan). </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(ii) With respect to any Inactive Life Employee who is a Life Offer Employee, Reinsurer&#146;s Comparable Offer of Employment
shall also be contingent on such Inactive Life Employee&#146;s return to active status within six&nbsp;(6) months following the Closing Date or such longer period as required by Law; <U>provided</U>, <U>however</U>, that, notwithstanding anything in
this Agreement to the contrary, Reinsurer shall not be required to make an offer of employment to any Inactive Life Employee (and shall have no obligation of any nature to hire or employ any such Inactive Life Employee) who is receiving long-term
disability benefits. Sellers or their applicable Affiliate shall continue to employ and shall remain responsible for any Liabilities related to any Inactive Life Employee (other than Inactive Life Employees who are receiving long-term disability
benefits as of the Closing Date) unless and until such individual returns to active status within six&nbsp;(6) months </P>
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following the Closing Date or such longer period as required by Law. For each Inactive Life Employee receiving long-term disability benefits as of the Closing Date who is able to return to active
status within six (6)&nbsp;months following the Closing Date, Sellers and Reinsurer shall reasonably cooperate, in good faith, to determine whether an available position for such Inactive Life Employee exists at Reinsurer or its Affiliates;
<U>provided</U>, <U>however</U>, that Reinsurer and its Affiliates shall not be required to make an offer of employment to any such Inactive Life Employee and Sellers or their applicable Affiliate shall remain responsible for any Liabilities related
to or arising out of such Inactive Life Employee&#146;s employment or termination of employment with Sellers or their applicable Affiliate unless and until such Inactive Life Employee becomes a Transferred Life Employee. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(iii) Reinsurer shall use commercially reasonable efforts to employ, or cause its Affiliates to employ, those Life Offer
Employees who are foreign nationals working in the United States in non-immigrant status and those Life Offer Employees for whom there are pending or approved I-140 immigrant petitions as of the Closing Date (collectively, the &#147;<U>Alien Life
Employees</U>&#148;), under terms and conditions such that Reinsurer and its Affiliate qualify as a &#147;successor employer&#148; under applicable United States immigration Laws, including 8 U.S.C. &#167;1184(c)(10), effective as of the Closing
Date or such later date contemplated by <U>Section&nbsp;9.02(a)(ii)</U>. As of the day after the Closing Date, or such later date as contemplated by <U>Section&nbsp;9.02(a)(ii)</U>, Reinsurer and its Affiliates shall, to the extent required by
applicable law to be a &#147;successor employer&#148; assume all immigration-related interests and obligations under applicable U.S. immigration Laws with respect to such Alien Life Employees who become Transferred Life Employees; <U>provided</U>,
<U>however</U>, that nothing in this <U>Section&nbsp;9.02(a)(iii)</U> shall otherwise affect the Liabilities retained by Sellers with respect to such Alien Life Employees (it being understood and agreed that Sellers shall, subject to the provisions
of <U>Section&nbsp;13.08</U> and <U>Section&nbsp;13.09</U>, indemnify and hold Reinsurer and its Affiliates harmless for any Liabilities required to be assumed pursuant to this clause (iii)&nbsp;to the extent that such Liabilities arise out of any
act or omission occurring before the applicable Transfer Date. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(b) <I>Post-Closing Benefits</I>. During the period commencing on the
Closing Date and ending on the earlier of December&nbsp;31, 2019 and the date that is eighteen (18)&nbsp;months following the Closing Date (or through such earlier date as such Transferred Life Employee&#146;s employment with Reinsurer or its
Affiliate is terminated for any reason) (such period, the &#147;<U>Life Continuation Period</U>&#148;), Reinsurer shall provide, or shall cause its Affiliates to provide, each Transferred Life Employee who commences employment with Reinsurer or its
Affiliate on or following the Closing Date with the following: (i)&nbsp;base salary and base wages, short-term or annual incentive compensation opportunities, long-term incentive compensation opportunities and commission opportunities that, in the
aggregate, are no less than the Base Salary and Base Wages, short-term or annual incentive compensation opportunities, long-term incentive compensation opportunities and commission opportunities in effect for such Transferred Life Employee
immediately prior to the Closing Date and (ii)&nbsp;employee benefits that, in the aggregate, are no less favorable than the employee benefits, in the aggregate, provided to similarly situated employees of Reinsurer and its Affiliates as in effect
from time to time (and excluding any plans in which newly hired employees are not eligible). </P>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><I></I>(c) <I>2018&nbsp;Short-Term Incentives for Periods Prior to the Transfer Date.</I> Without
limiting the generality of <U>Section&nbsp;9.02(b)</U>, Reinsurer shall provide, or shall cause its Affiliates to provide, each such Transferred Life Employee who remains employed by Reinsurer or its Affiliates on the applicable payment date with
short-term or annual incentive or commission compensation (expressed in dollars) with respect to 2018 that is not less than the targeted amount of the short-term or annual incentive or commission compensation offered by Sellers to such Transferred
Life Employee in respect of service during 2017 (the &#147;<U>2018 Life Incentive</U>&#148;); <U>provided</U> that the Statement of Net Settlement reflects an accrual (to the extent not yet paid to the Transferred Life Employees) with respect to
such amount equal to the product of (A)&nbsp;the aggregate amount of 2018 Life Incentives for all Transferred Life Employees and (B)&nbsp;a fraction, the numerator of which is the number of days in 2018 up to and including the Closing Date and the
denominator of which is three hundred sixty-five (365).<I> </I></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(d) <I>Severance</I>. Without limiting the generality of
<U>Section&nbsp;9.02(b)</U>, with respect to each Transferred Life Employee who incurs a Life Qualifying Termination during the Life Continuation Period, subject to the Transferred Life Employee timely executing and not revoking a waiver and general
release agreement in the form customarily used by Reinsurer pursuant to which such Transferred Life Employee shall also release and waive any and all claims against Sellers and their Affiliates, Reinsurer and its Affiliates shall provide such
Transferred Life Employee with the severance payments and benefits that are available under the Sellers&#146; Severance Policy; <U>provided</U> that Reinsurer and its Affiliate may, in its sole discretion and subject to compliance with the
requirements under Section&nbsp;409A of the Code, pay such severance payments and benefits in a lump sum in lieu of payments over time. In the event that Reinsurer or any of its Affiliates incurs any severance liabilities pursuant to this
<U>Section&nbsp;9.02(d)</U>, in respect of a Life Offer Employee who incurs a Life Qualifying Termination during or upon the conclusion of the eighteen (18)&nbsp;month period including and immediately following the Closing Date, Sellers shall
reimburse Reinsurer or its applicable Affiliates for all costs incurred pursuant to this <U>Section&nbsp;9.02(d)</U> within thirty (30)&nbsp;days following the receipt by Sellers of an invoice from Reinsurer. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(e) <I>401(k) Plan. </I>Without limiting the generality of the foregoing, effective no later than the Transfer Date, Reinsurer or its
Affiliates shall have in effect one or more defined contribution plans that include a qualified cash or deferred arrangement within the meaning of Section&nbsp;401(k) of the Code (and a related trust exempt from Tax under Section&nbsp;501(a) of the
Code) (collectively, the &#147;<U>Reinsurer 401(k) Plan</U>&#148;). Each Transferred Life Employee participating in a Life Plan that is a defined contribution plan that includes a qualified cash or deferred arrangement within the meaning of
Section&nbsp;401(k) of the Code (collectively, the &#147;<U>Life 401(k) Plan</U>&#148;) immediately prior to the applicable Transfer Date shall be eligible to participate in the Reinsurer 401(k) Plan as soon as administratively practicable on or
following the Transfer Date. If elected by a Transferred Life Employee in accordance with applicable Law, Reinsurer shall cause the Reinsurer 401(k) Plan to accept a &#147;direct rollover&#148; to such Reinsurer 401(k) Plan of the account balances
of such Transferred Life Employee (including up to two (2)&nbsp;promissory notes evidencing outstanding loans) under the Life 401(k) Plan. </P>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(f) <I>Service Credit. </I>Each Transferred Life Employee shall be credited, under the employee
benefit plans of Reinsurer and its Affiliates in which Transferred Life Employees commence participation after the Transfer Date (the &#147;<U>New Reinsurer Benefit Plans</U>&#148;), with the same amount of service for purposes of eligibility to
participate, vesting and level of benefits as was credited by Sellers and their Affiliates as of the Closing Date under similar or comparable Life Plans (such plans, collectively, the &#147;<U>Old Life Plans</U>&#148;), except (i)&nbsp;for purposes
of benefit accrual under qualified and nonqualified defined benefit plans, (ii)&nbsp;for all purposes under a retiree welfare plan, (iii)&nbsp;under any benefit plan that is a frozen plan or that provides benefits to a grandfathered employee
population, (iv)&nbsp;to the extent such credit would result in a duplication of benefits, and (v)&nbsp;where prior service is not recognized for similarly situated employees of Reinsurer and its Affiliates. In addition, and without limiting the
generality of the foregoing, Reinsurer or its Affiliate shall use commercially reasonable efforts to (A)&nbsp;cause, with respect to any New Reinsurer Benefit Plans in which the Transferred Life Employees commence to participate following the
Transfer Date, each Transferred Life Employee to be immediately eligible to participate in such New Reinsurer Benefit Plans, without any waiting period, to the extent coverage under such New Reinsurer Benefit Plans replaces coverage under an Old
Life Plan and (B)&nbsp;for purposes of each New Reinsurer Benefit Plan providing medical, dental, pharmaceutical and/or vision benefits to any Transferred Life Employee, cause all pre-existing condition exclusions of such New Reinsurer Benefit Plan
to be waived for such Transferred Life Employee and his or her covered dependents, to the extent any such exclusions or requirements were waived or were inapplicable under any Old Life Plan. Reinsurer or its Affiliate shall cause any eligible
expenses incurred by such Transferred Life Employee and his or her covered dependents during the portion of the plan year of the Old Life Plan ending on the date such Transferred Life Employee&#146;s participation in the corresponding New Reinsurer
Benefit Plan begins to be taken into account under such New Reinsurer Benefit Plan for purposes of satisfying all deductible, coinsurance and maximum out-of-pocket requirements applicable to such Transferred Life Employee and his or her covered
dependents for the applicable plan year as if such amounts had been paid in accordance with such New Reinsurer Benefit Plan. Prior to and after the Closing Date, Sellers shall, or shall cause their Affiliates and plan administrators to, provide all
reasonably necessary support and information in a timely manner as may be requested by Reinsurer or its Affiliates or the administrators of the New Reinsurer Benefit Plans to implement this <U>Section&nbsp;9.02(f)</U>. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><I></I>(g) <I>Benefit Plan Liabilities Retained by Sellers</I>. Sellers and their Affiliates (other than the Transferred Companies) shall
retain and be solely responsible for all Liabilities under the Benefit Plans, except Reinsurer and its Affiliates shall expressly assume the Liabilities under the Life Business Plan as set forth in Section&nbsp;9.02(g) of the Sellers Disclosure
Schedule. <I> </I></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(h) <I>Welfare Benefit Claims</I>. As of the Transfer Date, each Transferred Life Employee shall cease participation
with respect to periods on and following the Transfer Date in the health and welfare benefit plans of Sellers and their Affiliates and, as of the Transfer Date, such Transferred Life Employee shall be eligible to commence participation in the New
Reinsurer Benefit Plans that provide health and welfare benefits. Sellers shall be responsible for all Liabilities with respect to claims incurred by Life Employees (and their beneficiaries and covered dependents) prior to the Transfer Date under
Benefit Plans that provide medical, dental, vision and prescription drug coverage, life, accidental death and dismemberment and business travel accident insurance and disability coverage. Reinsurer shall be responsible for all Liabilities with
respect to claims incurred by Transferred Life Employees (and their beneficiaries and covered dependents) on and after the Transfer Date under New Reinsurer Benefit Plans that provide medical, dental, vision and prescription drug coverage, life,
accidental death and </P>
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dismemberment and business travel accident insurance and disability coverage. For purposes of this <U>Section&nbsp;9.02(h)</U>, the following claims shall be deemed to be incurred as follows:
(i)&nbsp;with respect to short-term disability, long-term disability, life and accidental death and dismemberment benefits, upon the event giving rise to such benefits, and (ii)&nbsp;with respect to medical, dental, vision care, prescription and
health-related benefits, upon provision of medical, dental, vision, prescription and health-related services, materials or supplies. Sellers and their Affiliates (other than the Transferred Companies) shall be responsible for providing the
continuation of group health coverage required by Section&nbsp;4980B(f) of the Code to any Life Employee (and his or her qualified beneficiaries) for whom a &#147;qualifying event&#148; within the meaning of Section&nbsp;4980B(f) of the Code occurs
prior to the Transfer Date. Reinsurer and its Affiliates shall be responsible for providing the continuation of group health coverage required by Section&nbsp;4980B(f) of the Code to any Transferred Life Employee (and his or qualified beneficiaries)
for whom a &#147;qualifying event&#148; within the meaning of Section&nbsp;4980B(f) of the Code occurs on or after the Transfer Date. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><I></I>(i) <I>Workers&#146; Compensation. </I>Sellers and their Affiliates (other than the Transferred Companies) shall be responsible for all
claims for workers&#146; compensation benefits that are incurred prior to the Transfer Date by any Transferred Life Employee. Reinsurer and its Affiliates shall be responsible for all claims for workers&#146; compensation benefits that are incurred
on and after the Transfer Date by any Transferred Life Employee. A claim for workers&#146; compensation benefits shall be deemed to be incurred on the date the injury giving rise to the claim occurs.<I> </I></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><I></I>(j) <I>Accrued Paid Time-Off</I>. On or as soon as practicable following the applicable Life Employee Transfer Date, Sellers shall pay
all accrued but unused paid time-off for each Transferred Life Employee. During the Life Continuation Period, Reinsurer shall, or shall cause its Affiliates to, provide annual leave, vacation and paid time off benefits to Transferred Life Employees
that are at least as favorable as those provided to similarly situated employees of Reinsurer and its Affiliates; <U>provided</U>, that Transferred Life Employees shall begin accruing annual leave, vacation and paid time off benefits from Reinsurer
or its Affiliates on the applicable Life Employee Transfer Date, and shall be permitted borrow against their annual vacation entitlements before they are earned for the one-year period following the applicable Life Employee Transfer Date (it being
understood and agreed that such borrowed amounts would be required to be repaid by such Transferred Life Employee if such Transferred Life Employee&#146;s employment terminates prior to the applicable annual vacation entitlement having been earned),
in each case, in accordance with the terms of the applicable vacation or paid time off policy of Reinsurer and its Affiliate.<I> </I></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(k)
<I>Employee Communications</I>. On and after the date hereof, any broad-based employee notices or communication materials (including any website posting) provided to Life Employees by Sellers or their Affiliates, on the one hand, or Reinsurer or its
Affiliates, on the other hand, with respect to employment, compensation or benefits matters addressed in this Agreement or related, directly or indirectly, to the transactions contemplated by this Agreement shall be subject to the prior prompt
review and comment of the other party, and the party seeking to distribute any such notice or communication shall consider in good faith revising such notice or communication to reflect any comments or advice that the other party timely provides.
</P>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(l) <I>No Plans Amended; No Employment or Third Party Rights</I>. This <U>Section&nbsp;9.02</U>
shall be binding upon and shall inure solely to the benefit of each of the parties to this Agreement and no current or former employee, director or independent contractor or any other individual associated therewith shall be regarded for any purpose
as a third-party beneficiary of this Agreement. Nothing in this <U>Section&nbsp;9.02</U> or any other provision of this Agreement or any other related Contract, express or implied, (i)&nbsp;shall be construed to establish, amend, or modify any Life
Plan or any other benefit plan, program, agreement or arrangement whether of Sellers or Reinsurer, (ii)&nbsp;shall alter or limit the ability of Sellers or any of their Subsidiaries, or Reinsurer or any of its Subsidiaries to amend, modify or
terminate any benefit plan, program, agreement or arrangement, or (iii)&nbsp;is intended to or shall confer upon any current or former employee of Sellers or their Subsidiaries or any other Person any right to employment or continued employment or
service for any period of time by reason of this Agreement or any other related agreement, or any right to a particular term or condition of employment. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Section&nbsp;9.03 <U>WARN Act</U>. No later than three (3)&nbsp;Business Days prior to the Closing Date, Sellers shall provide Purchaser and
Reinsurer with a correct and complete list of the name and site of employment of any employee of Sellers or their Affiliates located at any facility where any Business Employee is located who, within the ninety (90)&nbsp;day period prior to and
including the Closing Date, has experienced or will experience an &#147;employment loss&#148; (within the meaning of the WARN Act). Further, (a)&nbsp;in the event that any Transferred Group Benefits Employee or Transferred Life Employee experiences
an &#147;employment loss&#148; (within the meaning of the WARN Act) during the thirty (30)&nbsp;day period immediately following the Closing Date, Purchaser or Reinsurer, as applicable, shall notify the other and also Sellers within three
(3)&nbsp;Business Days of such employment loss, together with the name and site of employment of each such employee who has experienced an employment loss, and (b)&nbsp;in the event that any employee of Sellers or their Affiliates located at any
facility where any Business Employee was located immediately prior to Closing experiences an &#147;employment loss&#148; (within the meaning of the WARN Act) during the thirty (30)&nbsp;day period immediately following the Closing Date, Sellers
shall notify Purchaser and Reinsurer within three (3)&nbsp;Business Days of such employment loss, together with the name and site of employment of each such employee who has experienced an employment loss. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Section&nbsp;9.04 <U>Sellers Equity Awards</U>. As of the Closing, each outstanding Sellers Equity Award (whether vested or unvested) held by
a Business Employee (other than the Life Employees listed on Section&nbsp;9.02(a) of the Sellers Disclosure Schedule) shall be cancelled (the &#147;<U>Cancelled Awards</U>&#148;). Sellers shall pay each holder of a Cancelled Award a cash payment
equal to (a)&nbsp;in respect of each Cancelled Award that is a LMGI RU that was vested as of immediately prior to the Closing (including vested awards based on retirement eligibility), the product of (i)&nbsp;the fair market value as of the Closing
Date of each Executive Partnership Unit of LMGI and (ii)&nbsp;the total number of Executive Partnership Units of LMGI subject to the LMGI RU and (b)&nbsp;in respect of each Cancelled Award that is a LMGI AU that was vested as of immediately prior to
the Closing (including vested awards based on retirement eligibility) (the &#147;<U>Vested Cancelled AU Award</U>&#148;), the product of (i)&nbsp;the total number of Executive Partnership Units of LMGI subject to the Vested Cancelled AU Award and
(ii)&nbsp;the excess, if any, of the fair market value as of the Closing Date of each Executive Partnership Unit of LMGI over the grant price per Executive Partnership Unit of LMGI subject to such Vested Cancelled AU Award. Sellers shall make such
payments to each applicable Business Employee in accordance with the terms of the LMGI Executive Partnership Deferred Compensation Plan and the LMGI Executive Partnership Plan. </P>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Section&nbsp;9.05 <U>Purchaser Parent Equity Awards</U>. With respect to any Transferred Group
Benefits Employee who held Cancelled Awards, as soon as reasonably practicable following the Closing Date and subject to the accrual as a Liability in the Balance Sheet of an amount equal to the aggregate target grant date value of all Vested
Cancelled AU Award (as set forth in Section&nbsp;4.27(e) of the Sellers Disclosure Schedule) less the aggregate amount paid by Sellers in respect of such Vested Cancelled AU Awards pursuant to <U>Section&nbsp;9.04</U>, Purchaser Parent shall
(a)&nbsp;in the case of each such Cancelled Award that is a LMGI RU that was not vested as of immediately prior to the Closing, grant to the applicable Transferred Group Benefits Employee a restricted stock unit award in respect of Purchaser
Parent&#146;s common stock (each, a &#147;<U>Purchaser RSU Award</U>&#148;) having an aggregate grant date fair market value that preserves the fair market value of such Cancelled Award as of the Closing Date (as determined by Purchaser Parent in
its sole discretion) and (b)&nbsp;in the case of each such Cancelled Award that is a LMGI AU (whether or not vested as of immediately prior to the Closing), grant to the applicable Transferred Group Benefits Employee (i)&nbsp;an option to purchase
Purchaser Parent&#146;s common stock (each, a &#147;<U>Purchaser Option</U>&#148;), (ii)&nbsp;a Purchaser RSU Award, or (iii)&nbsp;a combination of Purchaser Options and Purchaser RSU Awards having an aggregate Black-Scholes value (in the case of
Purchaser Options) and fair market value (in the case of Purchaser RSU Awards) equal to the target grant date value of such Cancelled Award (as set forth in Section&nbsp;4.27(e) of the Sellers Disclosure Schedule) (less, in the case of Cancelled
Awards that are Vested Cancelled AU Awards, the amount paid by Sellers in respect of such Vested Cancelled AU Award pursuant to <U>Section&nbsp;9.04</U>), in each case, on terms and subject to conditions consistent with Purchaser Parent&#146;s stock
incentive plan and awards, taking into account the vesting schedule of the forfeited Sellers Equity Awards; <U>provided</U> that (A)&nbsp;the Purchaser Options and the Purchaser RSU Awards granted pursuant to this <U>Section&nbsp;9.05</U> shall vest
in full upon the applicable Transferred Group Benefits Employee&#146;s retirement and (B)&nbsp;any such Purchaser Option held by a Transferred Group Benefits Employee who retires shall remain exercisable until the earlier of the fifth
(5th)&nbsp;anniversary of the date of retirement and the original expiration date of such Purchaser Option. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Section&nbsp;9.06
<U>Reinsurer Cancelled Awards</U>. With respect to the Transferred Life Employee (other than the Life Employees listed on Section&nbsp;9.02(a) of the Sellers Disclosure Schedule) who held a Cancelled Award as of immediately prior to the Closing in
respect of Sellers Equity Awards granted prior to 2018 (the &#147;<U>Life Equity Employee</U>&#148;), as soon as reasonably practicable following the Closing Date, Reinsurer shall grant to the Life Equity Employee a cash incentive award in an amount
equal to $25,000 (the &#147;<U>Reinsurer Cash Award</U>&#148;); <U>provided</U> that Life Equity Employee shall vest in full and be paid the Reinsurer Cash Award no later than December&nbsp;31, 2018, subject to the Life Equity Employee&#146;s
continued employment and subject to Section&nbsp;409A of the Code; <U>provided</U>, <U>further</U>, that upon a Life Qualifying Termination of the Life Equity Employee, the Reinsurer Cash Award shall vest and become payable no later than sixty
(60)&nbsp;days following such Life Qualifying Termination, subject to Section&nbsp;409A of the Code. In addition, Reinsurer shall provide, or shall cause its Affiliates to provide, each such Life Equity Employee with an aggregate total compensation
opportunity (consisting of base salary, short-term incentive opportunity and long-term incentive opportunity) with respect to 2018, when taken together with any compensation paid or payable to such Life Equity Employee by Seller and its Affiliates
in respect of service during 2018, that is no less than the aggregate total compensation opportunity offered by Sellers to such Life Equity Employee as in effect immediately prior to the Closing. </P>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Section&nbsp;9.07 <U>Life Offer Employee Retention Awards</U>. Prior to the Closing, Sellers and
Reinsurer shall jointly implement a retention program in respect of Life Offer Employees and, following Closing, Reinsurer may enter into additional retention arrangement in respect of a Life Offer Employee who became a Transferred Life Employee, in
each case, as set forth in Section&nbsp;9.07 of the Sellers Disclosure Schedule (collectively, the &#147;<U>Life Retention Program</U>&#148;). Sellers shall reimburse Reinsurer or its applicable Affiliates for payments pursuant to the Life Retention
Program within thirty (30)&nbsp;days following the receipt by Sellers of an invoice from Reinsurer; <U>provided</U>, that Sellers shall reimburse Reinsurer for such payments up to an aggregate amount of sixteen million dollars ($16,000,000) and if
the aggregate payments exceed sixteen million dollars ($16,000,000), then Sellers shall reimburse Reinsurer fifty percent (50%)&nbsp;of such aggregate payments that exceed sixteen million dollars ($16,000,000). </P>
<P STYLE="margin-top:24pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>ARTICLE&nbsp;X </B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>TAX
MATTERS </B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Section&nbsp;10.01 <U>Tax Indemnification by Sellers</U>. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(a) From and after the Closing, Sellers, on a several and not joint basis, shall defend, indemnify and hold harmless the Purchaser Indemnified
Parties from any and all (i)&nbsp;Taxes imposed on or assessed against any of the Transferred Companies (A)&nbsp;for any Pre-Balance Sheet Date Tax Period, (B)&nbsp;solely as a result of the Section&nbsp;338(h)(10) Elections, or (C)&nbsp;arising
from any action or transaction by any of the Sellers or the Transferred Companies (or any of their respective Affiliates) outside the ordinary course of business after the Balance Sheet Date and at or prior to the Closing (including any such action
or transaction contemplated by the terms of this Agreement, the COLI Administrative Services Agreement, the COLI Reinsurance Agreement, the COLI Trust Agreement, the Fronting and Inforce Reinsurance Agreement, or the Puerto Rico (and Other)
Reinsurance Agreement); (ii)&nbsp;Pre-Balance Sheet Date Group Taxes; (iii)&nbsp;Taxes of LMGI, Sellers, or any of their respective Affiliates (other than any Transferred Company); (iv)&nbsp;Taxes (including Taxes imposed pursuant to Treasury
Regulations Section&nbsp;1.1502-6 (or any similar provision of state, local or non-U.S. Law)) imposed on any Transferred Company as a result of such Transferred Companies being a member of any consolidated, combined, affiliated, or unitary group of
which such Transferred Company was a member on or prior to the Closing Date; (v)&nbsp;Taxes arising out of or resulting from any action or transaction contemplated by or pursuant to <U>Section&nbsp;8.14</U>; (vi)&nbsp;Taxes or Losses arising out of
or resulting from any breach of any representation or warranty (without giving effect to any materiality or similar qualifications therein) contained in <U>Section&nbsp;4.19</U>; (vii)&nbsp;Taxes arising out of or resulting from any breach of any
representation or warranty (without giving effect to any materiality or similar qualifications therein) contained in <U>Section&nbsp;4.20</U>; (viii)&nbsp;Taxes arising out of or resulting from any breach of any covenant or agreement of Sellers
contained in this Agreement; (ix)&nbsp;Transfer Taxes for which Sellers are responsible pursuant to <U>Section&nbsp;10.11</U>; (x)&nbsp;Taxes imposed on or assessed against any Transferred Company by operation of Law, as a transferee or successor,
in each case, that relate to an action or transaction entered into or occurring in a Pre-Balance Sheet Date Tax Period, an action or transaction entered into or </P>
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occurring outside the ordinary course of business in an Interim Tax Period, or pursuant to any contract entered into prior to the Closing Date (other than pursuant to agreements entered into in
the ordinary course of business the principal purpose of which does not relate to the sharing or allocation of Taxes); (xi)&nbsp;Taxes that are Excluded Group Liabilities; (xii)&nbsp;amounts for which Sellers are responsible pursuant to
<U>Section&nbsp;10.15(b)</U>; and (xiii)&nbsp;costs and expenses, including reasonable legal fees and expenses attributable to any item described in clauses&nbsp;(i) to (xii); <U>provided</U>, <U>however</U>, that Sellers shall not be required to
pay or cause to be paid, or to indemnify or hold harmless the Purchaser Indemnified Parties from and against any Losses resulting from (v)&nbsp;Taxes imposed with respect to the Transferred Life Investment Assets attributable to the transactions
occurring pursuant to the Reinsurance Agreement; (w)&nbsp;Taxes described in clauses (iii)&nbsp;or (iv)&nbsp;of this <U>Section&nbsp;10.01(a)</U> that are imposed with respect to the Acquired Group Benefits Assets, the Assumed Group Benefit
Liabilities, the Group Benefits Business or the Transferred Companies for an Interim Tax Period, other than any such Taxes arising from any action or transaction by any of the Sellers or the Transferred Companies (or any of their respective
Affiliates) outside the ordinary course of business after the Balance Sheet Date and at or prior to the Closing (including any such action or transaction contemplated by the terms of this Agreement, the COLI Administrative Services Agreement, the
COLI Reinsurance Agreement, the COLI Trust Agreement, the Fronting and Inforce Reinsurance Agreement, or the Puerto Rico (and Other) Reinsurance Agreement); (x)&nbsp;Taxes for which Purchaser is responsible pursuant to <U>Section&nbsp;10.11</U>;
(y)&nbsp;Taxes arising from any action or transaction by Purchaser or the Transferred Companies (or any of their respective Affiliates) outside the ordinary course of business on the Closing Date after the Closing (other than any such action or
transaction contemplated by the terms of this Agreement or any Ancillary Agreement); or (z)&nbsp;Taxes taken into account as a liability on the Final Balance Sheet. Notwithstanding anything to the contrary in this Agreement, Sellers shall only be
liable to indemnify the Purchaser Indemnified Parties against Taxes arising out of or resulting from any breach of any representation or warranty (without giving effect to any materiality or similar qualifications therein) contained in
<U>Section&nbsp;4.20</U> (other than <U>Sections 4.20(c)</U>, <U>(e)</U>, <U>(g)</U>, <U>(j)</U>, <U>(k)</U>, and <U>(l)</U>) with respect to Taxes in respect of a Pre-Closing Tax Period. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(b) From and after the Closing, Sellers shall, on a several and not joint basis, defend, indemnify and hold harmless the Reinsurer Indemnified
Parties from any and all (i)&nbsp;Pre-Balance Sheet Date Life Taxes; (ii)&nbsp;Taxes or Losses arising out of or resulting from any breach of any representation or warranty (without giving effect to any materiality or similar qualifications therein)
contained in <U>Section&nbsp;5.16</U>; and (iii)&nbsp;costs and expenses, including reasonable legal fees and expenses attributable to any item described in clauses&nbsp;(i) through (iii); <U>provided</U>, <U>however</U>, that Sellers shall not be
required to pay or cause to be paid, or to indemnify or hold harmless the Reinsurer Indemnified Parties from and against any Losses resulting from any Taxes taken into account on the Final Settlement Report. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Section&nbsp;10.02 <U>Tax Indemnification by Purchaser and Reinsurer</U>. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(a) From and after the Closing, Purchaser shall defend, indemnify and hold harmless the Sellers Indemnified Parties from any and all Taxes
actually incurred by any Sellers Indemnified Party, to the extent resulting from any (i)&nbsp;(A) Taxes imposed on or assessed against any of the Transferred Companies for any Post-Balance Sheet Date Tax Period; (B)&nbsp;Taxes (other than Taxes
imposed on any of the Transferred Companies) imposed with respect to the Acquired Group Benefits Assets, the Assumed Group Benefits Liabilities or the Group Benefits Business </P>
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for any Post-Balance Sheet Date Tax Period; in the case of clauses (A)&nbsp;and (B), other than (x)&nbsp;any such Taxes for which Sellers are responsible pursuant to <U>Section&nbsp;10.01(a)</U>
and (y)&nbsp;any Taxes imposed with respect to the Transferred Life Investment Assets; (ii)&nbsp;Taxes arising from any action or transaction by Purchaser or the Transferred Companies (or any of their respective Affiliates) outside of the ordinary
course of business on the Closing Date after the Closing (other than any such action or transaction contemplated by the terms of this Agreement or any Ancillary Agreement); (iii)&nbsp;Taxes arising out of or resulting from any breach of any covenant
or agreement of Purchaser contained in this Agreement; (iv)&nbsp;Transfer Taxes for which Purchaser is responsible pursuant to <U>Section&nbsp;10.11</U>; and (v)&nbsp;costs and expenses, including reasonable legal fees and expenses, attributable to
any item described in clauses&nbsp;(i) to (iv). </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(b) From and after the Closing, Reinsurer shall defend, indemnify and hold harmless the
Sellers Indemnified Parties from any and all Taxes actually incurred by any Sellers Indemnified Party to the extent resulting from any (i)&nbsp;Taxes arising out of or resulting from any breach of any covenant or agreement of Reinsurer contained in
this Agreement; (ii)&nbsp;net Taxes imposed with respect to the Transferred Life Investment Assets for the Interim Tax Period, other than Taxes attributable to the transactions contemplated by this Agreement, the Reinsurance Agreement and the New
York Reinsurance Agreement; and (iii)&nbsp;costs and expenses, including reasonable legal fees and expenses, attributable to any item described in clause (i)&nbsp;or (ii). </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Section&nbsp;10.03 <U>Straddle Periods</U>. For purposes of this Agreement, in the case of any Balance Sheet Date Straddle Period,
(a)&nbsp;Property Taxes allocable to the Pre-Balance Sheet Date Tax Period shall be equal to the amount of such Property Taxes for the entire Balance Sheet Date Straddle Period <U>multiplied by</U> a fraction, the numerator of which is the number of
calendar days during the Balance Sheet Date Straddle Period that are in the Pre-Balance Sheet Date Tax Period and the denominator of which is the number of calendar days in the entire Balance Sheet Date Straddle Period, (b)&nbsp;Taxes (other than
Property Taxes and premium Taxes) allocable to the Pre-Balance Sheet Date Tax Period shall be computed as if such taxable period ended as of the end of the day on the Balance Sheet Date and (c)&nbsp;Taxes imposed on the basis of gross premiums
allocable to the Pre-Balance Sheet Date Tax Period shall be deemed equal to the amount of Taxes that would be payable based upon the amount of premium written as of the Balance Sheet Date; <U>provided</U> that exemptions, allowances or deductions
that are calculated on an annual basis (including, but not limited to, depreciation and amortization deductions) shall be allocated between the period ending on the Balance Sheet Date and the period beginning after the Balance Sheet Date in
proportion to the number of days in each period. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Section&nbsp;10.04 <U>Tax Returns</U>. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(a) Sellers shall prepare or shall cause to be prepared (i)&nbsp;any combined, consolidated or unitary Tax Return that includes Sellers or any
of their Affiliates (other than the Transferred Companies), on the one hand, and any of the Transferred Companies or their respective Subsidiaries, on the other hand (a &#147;<U>Combined Tax Return</U>&#148;), and (ii)&nbsp;any Tax Return (other
than any Combined Tax Return) that is required to be filed by or with respect to any of the Transferred Companies for any taxable period that ends on or before the Closing Date (a &#147;<U>Pre-Closing Separate Tax Return</U>&#148;); <U>provided</U>
that Sellers shall prepare or cause to be prepared any Pre-Closing Separate Tax Returns in a manner consistent with past practices of the applicable Transferred Companies, except as otherwise required by a change in applicable Law. Sellers
</P>
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shall timely file or cause to be timely filed any Combined Tax Return and any Pre-Closing Separate Tax Return that is required to be filed on or before the Closing Date (taking into account any
extensions). Sellers shall deliver, or cause to be delivered, to Purchaser all Pre-Closing Separate Tax Returns that are required to be filed after the Closing Date (A)&nbsp;with respect to income Taxes, at least fifteen (15)&nbsp;days prior to the
due date for filing such Tax Returns (taking into account any extensions), and (B)&nbsp;with respect to non-income Taxes, as promptly as reasonably practicable prior to the due date for filing such Tax Returns (taking into account any extensions),
and, in each case, Purchaser shall timely file or cause to be timely filed such Tax Returns. Purchaser (x)&nbsp;shall not amend or revoke any Combined Tax Return and (y)&nbsp;shall not amend or revoke any Pre-Closing Separate Tax Returns (or any
notification or election relating thereto) without the prior written consent of Sellers (which consent shall not be unreasonably withheld, conditioned, or delayed). At Sellers&#146; request, Purchaser shall file, or cause to be filed, any amended
Pre-Closing Separate Tax Returns. Purchaser shall promptly provide (or cause to be provided) to Sellers any information reasonably requested by Sellers to facilitate the preparation and filing of any Tax Returns described in this
<U>Section&nbsp;10.04(a)</U> and Purchaser shall use commercially reasonable efforts to prepare (or cause to be prepared) such information in a manner and on a timeline requested by Sellers, which information and timeline shall be consistent with
the past practice of the Transferred Companies. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(b) Notwithstanding anything to the contrary in <U>Section&nbsp;10.04(a)</U>, to the
extent any Combined Tax Return or Pre-Closing Separate Tax Return includes any Tax items for which Purchaser is responsible pursuant to <U>Section&nbsp;10.02(a)</U> (an &#147;<U>Interim Tax Return</U>&#148;), Sellers shall deliver, or cause to be
delivered, to Purchaser for its review and comment (x)&nbsp;in the case of any Interim Tax Return that is a Pre-Closing Separate Return, a copy of such Interim Tax Return and (y)&nbsp;in the case of any Interim Tax Return that is a Combined Tax
Return, a pro forma statement setting forth in sufficient detail any information relevant for determining the amount of Taxes shown as due on such Combined Return for which Purchaser is responsible pursuant to <U>Section&nbsp;10.02(a)</U>,
(i)&nbsp;with respect to income Taxes, at least thirty (30)&nbsp;days prior to the due date for filing such Tax Return (taking into account any extensions), and (ii)&nbsp;with respect to non-income Taxes, as promptly as reasonably practicable prior
to the due date for filing such Tax Return (taking into account any extensions), in each case, accompanied by a statement calculating in reasonable detail Purchaser&#146;s indemnification obligation with respect thereto, if any, pursuant to
<U>Section&nbsp;10.02(a)</U> (&#147;<U>Interim Taxes</U>&#148;). If Purchaser does not agree with any item on such Interim Tax Return (or pro forma statement, in the case of an Interim Tax Return that is a Combined Return) that impacts the
calculation of Interim Taxes or with Sellers&#146; calculation of Interim Taxes, Purchaser shall notify Sellers of such disagreement (A)&nbsp;in the case of a disagreement with respect to income Taxes, within ten (10)&nbsp;days of Purchaser&#146;s
receipt of a copy of the Interim Tax Return (or pro forma statement, as applicable) and Sellers&#146; calculation and (B)&nbsp;in the case of a disagreement with respect to non-income Taxes, as promptly as reasonably practicable after
Purchaser&#146;s receipt of a copy of the Interim Tax Return (or portion thereof, as applicable) and Sellers&#146; calculation, and in any event prior to the due date for filing such Tax Return. If a notice of objection shall be so delivered,
Sellers and Purchaser shall negotiate in good faith and use their commercially reasonable efforts to resolve the dispute. If Sellers and Purchaser are unable to resolve any dispute within (I)&nbsp;in the case of a dispute with respect to income
Taxes, ten (10)&nbsp;days, and (II) in the case of a dispute with respect to non-income Taxes, five (5)&nbsp;days (or such shorter period as may then exist prior to the due date of the Interim Tax Return), in each case after receipt by Sellers of
such notice of objection, the disputed items shall </P>
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be resolved by the Independent Accountant and any determination by the Independent Accountant shall be final, binding and conclusive on Sellers, Purchaser, the Transferred Companies and their
respective Affiliates. The Independent Accountant shall resolve any disputed items as promptly as reasonably practicable after having the item referred to it, and in all events at least two (2)&nbsp;days (or such shorter period as may then exist)
prior to the due date of such Interim Tax Return (taking into account any extensions), pursuant to such procedures as it may require. Sellers shall file the Interim Tax Return in accordance with the determination by the Independent Accountant. The
costs, fees and expenses of the Independent Accountant shall be borne equally by Purchaser and Sellers. Except to the extent otherwise required pursuant to a &#147;determination&#148; within the meaning of Section&nbsp;1313(a) of the Code (or any
similar provision of state, local, or non-U.S. Law), Sellers shall not amend or revoke any such Interim Tax Returns (or with respect to any Interim Tax Return that is a Combined Tax Return, any portion of such Interim Tax Return relating to Tax
items for which Purchaser is responsible pursuant to <U>Section&nbsp;10.02(a)</U>) (or any notification or election relating thereto) without the prior written consent of Purchaser (which consent shall not be unreasonably withheld, conditioned or
delayed), and Sellers shall file, or cause to be filed, at Purchaser&#146;s request, any amended Interim Tax Returns (other than any such Interim Tax Returns that are Combined Tax Returns); <U>provided</U>, <U>however</U>, that if either of Sellers
or Purchaser desires to amend or revoke any Interim Tax Return, the process of amending or revoking such Interim Tax Return shall be subject to review, comment and dispute resolution procedures as described in this <U>Section&nbsp;10.04(b)</U>.
Notwithstanding anything to the contrary in this Agreement, (C)&nbsp;none of Purchaser or any of its Affiliates shall be entitled to receive a copy of any Combined Tax Return (or any portion thereof) and (D)&nbsp;none of Purchaser or any of its
Affiliates shall be entitled to dispute any item on an Interim Tax Return (or pro forma statements, as applicable) delivered by Sellers pursuant to this <U>Section&nbsp;10.04(b)</U> that does not impact the calculation of any Tax item for any
Interim Tax Period for which Purchaser is responsible pursuant to <U>Section&nbsp;10.02(a)</U>. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(c) Except for any Tax Return required to
be prepared by Sellers pursuant to <U>Section&nbsp;10.04(a)</U>, Purchaser shall prepare and timely file or cause to be prepared and timely filed all Tax Returns with respect to the Transferred Companies. In the case of any such Tax Return for a
Closing Date Straddle Period (a &#147;<U>Straddle Period Separate Tax Return</U>&#148;), Purchaser shall prepare or cause to be prepared such Tax Return in a manner consistent with past practices of the Transferred Companies, except as otherwise
required by a change in applicable Law. Purchaser shall deliver to Sellers for their review and comment a copy of each such Straddle Period Separate Tax Return (i)&nbsp;with respect to income Taxes, at least thirty (30)&nbsp;days prior to the due
date for filing such Tax Return (taking into account any extensions) and (ii)&nbsp;with respect to non-income Taxes, as promptly as reasonably practicable prior to the due date for filing such Tax Return (taking into account any extensions), in each
case, accompanied by a statement calculating in reasonable detail Sellers&#146; indemnification obligation with respect thereto, if any, pursuant to <U>Section&nbsp;10.01(a)</U>. If Sellers do not agree with any item on such Straddle Period Separate
Tax Return or with Purchaser&#146;s calculation of Sellers&#146; indemnification obligation, Sellers shall notify Purchaser of such disagreement (i)&nbsp;in the case of a disagreement with respect to income Taxes, within ten (10)&nbsp;days of
Sellers&#146; receipt a copy of the Straddle Period Separate Tax Return and Purchaser&#146;s calculation and (ii)&nbsp;in the case of a disagreement with respect to non-income Taxes, as promptly as reasonably practicable after Sellers&#146; receipt
of a copy of the Straddle Period Separate Tax Return and Purchaser&#146;s calculation, and in any event prior to the due date for filing such Straddle Period Separate Tax Return. If a notice of objection shall be so
</P>
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delivered, Sellers and Purchaser shall negotiate in good faith and use their commercially reasonable efforts to resolve the dispute. If Sellers and Purchaser are unable to resolve any dispute
within (i)&nbsp;in the case of a dispute with respect to income Taxes, ten (10)&nbsp;days, and (ii)&nbsp;in the case of a dispute with respect to non-income Taxes, five (5)&nbsp;days (or such shorter period as may then exist prior to the due date of
the Straddle Period Separate Tax Return), in each case after receipt by Purchaser of such notice of objection, the disputed items shall be resolved by the Independent Accountant and any determination by the Independent Accountant shall be final,
binding and conclusive on Sellers, Purchaser, the Transferred Companies and their respective Affiliates. The Independent Accountant shall resolve any disputed items as promptly as reasonably practicable after having the item referred to it, and in
all events at least two (2)&nbsp;days (or such shorter period as may then exist) prior to the due date of such Straddle Period Separate Tax Return (taking into account any extensions), pursuant to such procedures as it may require. Purchaser shall
file the Straddle Period Separate Tax Return in accordance with the determination by the Independent Accountant. The costs, fees and expenses of the Independent Accountant shall be borne equally by Purchaser and Sellers. Except to the extent
otherwise required pursuant to a &#147;determination&#148; within the meaning of Section&nbsp;1313(a) of the Code (or any similar provision of state, local, or non-U.S. Law), Purchaser shall not amend or revoke any such Straddle Period Separate Tax
Returns (or any notification or election relating thereto) without the prior written consent of Sellers (which consent shall not be unreasonably withheld, conditioned or delayed), and Purchaser shall file, or cause to be filed, at Sellers&#146;
request, any amended Straddle Period Separate Tax Returns; <U>provided</U>, <U>however</U>, that if either of Sellers or Purchaser desires to amend or revoke any Straddle Period Separate Tax Return, the process of amending or revoking such Straddle
Period Separate Tax Return shall be subject to review, comment and dispute resolution procedures as described in this <U>Section&nbsp;10.04(c)</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Section&nbsp;10.05 <U>Certain Tax Benefits, Refunds, Credits and Carrybacks</U>. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(a) Sellers shall be entitled to any refund, credit or offset actually received or realized by (i)&nbsp;Purchaser or any of its Affiliates
(including the Transferred Companies following the Closing) of or for any Taxes for which Sellers are responsible under <U>Section&nbsp;10.01(a)</U>or (ii)&nbsp;Reinsurer or any of its Affiliates of or for any Taxes for which Sellers are responsible
under <U>Section&nbsp;10.01(b)</U>, in either case, including any such amount arising by reason of an amended Tax Return filed after the Closing Date or any audit adjustment (or adjustment in any other Tax Proceeding) occurring after the Closing
Date, but excluding any such amount taken into account as an asset on the Final Balance Sheet. In connection with the foregoing, if Sellers reasonably determine that the Transferred Companies are entitled to file or make a formal or informal claim
for a refund of Taxes (including by filing an amended Tax Return) with respect to a Pre-Balance Sheet Date Tax Period, Sellers shall be entitled to file or make, or to request that Purchaser cause the Transferred Companies to file or make, such
formal or informal claim for refund, and Sellers shall be entitled to control of the prosecution of such claim for refund. Purchaser shall reasonably cooperate, and cause the Transferred Companies to reasonably cooperate, with respect to such claim
for refund (including, if applicable, with respect to the filing or making of such claim for refund), and shall pay, or cause the Transferred Companies to pay, to Sellers the amount (including any interest paid thereon by the applicable Taxing
Authority and net of any costs or expenses (including Taxes) incurred by Purchaser or any of its Affiliates with respect to such refund or claim for refund) of any related refund, credit, or offset thereof. In the event that any such refund, credit,
or offset (or portion thereof) in respect of which Sellers have received a </P>
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payment from Purchaser or Reinsurer or any of their respective Affiliates pursuant to this <U>Section&nbsp;10.05(a)</U> is subsequently disallowed, Sellers shall pay Purchaser or Reinsurer, as
applicable, the amount of such disallowed refund, credit, or offset, together with any interest, penalties, or additional amounts imposed by the relevant Taxing Authority in respect of such refund, credit, or offset (or portion thereof). Any refund,
credit, or offset received or realized with respect to Taxes attributable to the Transferred Companies for a Balance Sheet Date Straddle Period shall be equitably apportioned among Purchaser and Sellers in a manner consistent with the principles set
forth in <U>Section&nbsp;10.03</U>. Purchaser or Reinsurer, as applicable, shall pay, or cause its Affiliates to pay, to Sellers the amount of any such refund, credit, or offset to which Sellers are entitled pursuant to this
<U>Section&nbsp;10.05(a)</U> (including any interest paid thereon and net of any costs or expenses (including Taxes) incurred by Purchaser or Reinsurer, as applicable, or any of their respective Affiliates with respect to such refund, credit, offset
or claim for refund, credit, or offset) within ten (10)&nbsp;days after the actual receipt thereof or the application of such Tax refund, credit, or offset against amounts otherwise payable. Purchaser and Reinsurer, respectively, shall be entitled
to any refund, credit or offset actually received or realized by Sellers or any of their respective Affiliates of or for any Taxes for which Purchaser or Reinsurer, as applicable, is responsible under <U>Section&nbsp;10.02</U>, including any such
amount arising by reason of an amended Tax Return filed on or prior to the Closing Date or any audit adjustment (or adjustment in any other Tax Proceeding) occurring on or prior to the Closing Date, but excluding any such amount received in respect
of a Tax taken into account as a liability on the Final Balance Sheet. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(b) Purchaser shall cause the Transferred Companies to carry
forward, where permitted by applicable Law, any item of loss, deduction or credit which arises in any taxable period ending after the Closing Date (a &#147;<U>Subsequent Loss</U>&#148;) into any taxable period beginning after the Closing Date. If a
Subsequent Loss is not permitted by applicable Law to be carried forward into any taxable period beginning after the Closing Date, Sellers shall cooperate with Purchaser and the relevant Transferred Companies in seeking from the appropriate Taxing
Authority such Tax refund or other credit as reasonably would result from a carry back of such Subsequent Loss into any taxable period ending on or before the Closing Date, to the extent that such refund or other credit is directly attributable to
such Subsequent Loss, and the amount of such refund or other credit shall be paid to Purchaser within ten (10)&nbsp;days after the actual receipt thereof or the application of such Tax refund or other credit against amounts otherwise payable. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Section&nbsp;10.06 <U>Tax Contests</U>. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(a) If any Taxing Authority asserts a Tax Claim, then the party to this Agreement first receiving notice of such Tax Claim promptly shall
provide written notice thereof to the other party or parties to this Agreement; <U>provided</U>, <U>however</U>, that the failure of such party to give such prompt notice shall not relieve the other party of any of its obligations under this
<U>Article&nbsp;X</U>, except to the extent that the other party is materially prejudiced by such failure (as determined by a court of competent jurisdiction). Such notice shall specify in reasonable detail the basis for such Tax Claim and shall
include a copy of the relevant portion of any correspondence received from the Taxing Authority. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">152 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(b) Subject to <U>Section&nbsp;10.15</U> and <U>Section&nbsp;13.10</U>, in the case of a Tax
Proceeding of or with respect to any of the Transferred Companies for any Pre-Closing Tax Period (other than a Tax Proceeding described in <U>Section&nbsp;10.06(d)</U>), Sellers shall have the exclusive right to control such Tax Proceeding;
<U>provided</U>, <U>however</U>, that (i)&nbsp;to the extent such Tax Proceeding relates to Tax items for any Interim Tax Period for which Purchaser is responsible under <U>Section&nbsp;10.02(a)</U>, (A)&nbsp;Sellers shall consult with Purchaser
before taking any significant action (including submitting written materials) in connection with such Tax Proceeding, (B)&nbsp;Sellers shall defend such Tax Proceeding diligently and in good faith as if it were the only party in interest in
connection with such Tax Proceeding, (C)&nbsp;Purchaser shall be entitled to participate in such Tax Proceeding and attend any meetings or conferences with the relevant Taxing Authority and (D)&nbsp;Sellers shall not settle, compromise or abandon
any such Tax Proceeding without obtaining the prior written consent of Purchaser, which consent shall not be unreasonably withheld, conditioned or delayed, and (ii)&nbsp;Sellers shall not settle, compromise or abandon any such Tax Proceeding without
obtaining the prior written consent of Purchaser (which consent shall not be unreasonably withheld, conditioned or delayed) if such settlement, compromise or abandonment could reasonably be expected to have a material adverse impact on Purchaser or
any of its Subsidiaries for any Post-Balance Sheet Date Tax Period. Sellers may elect in writing not to control any Tax Proceeding that Sellers otherwise have the right to control pursuant to the preceding sentence. If Sellers make such election
with respect to a Tax Proceeding, Purchaser shall have the right to control the conduct and resolution of such Tax Proceeding; <U>provided</U>, <U>however</U>, that (A)&nbsp;the reasonable costs and expenses, including reasonable legal and
accounting fees, incurred by Purchaser in controlling such Tax Proceeding shall be borne by Sellers and (B)&nbsp;Purchaser shall defend such Tax Proceeding in good faith and shall not settle, compromise or abandon any such Tax Proceeding without
obtaining the prior written consent of Sellers (which consent shall not be unreasonably withheld, conditioned or delayed) if such settlement, compromise or abandonment could reasonably be expected to have a material adverse impact on Sellers or any
of their Affiliates. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(c) Subject to <U>Section&nbsp;10.15</U> and <U>Section&nbsp;13.10</U>, the case of a Tax Proceeding of or with
respect to any of the Transferred Companies for any Closing Date Straddle Period (other than a Tax Proceeding described in <U>Section&nbsp;10.06(d)</U>), Purchaser shall control the Tax Proceeding; <U>provided</U> that (A)&nbsp;Purchaser shall
consult with Sellers before taking any significant action (including submitting written materials) in connection with such Tax Proceeding, (B)&nbsp;Purchaser shall defend such Tax Proceeding diligently and in good faith as if it were the only party
in interest in connection with such Tax Proceeding, (C)&nbsp;Sellers shall be entitled to participate in such Tax Proceeding and attend any meetings or conferences with the relevant Taxing Authority and (D)&nbsp;Purchaser shall not settle,
compromise or abandon any such Tax Proceeding without obtaining the prior written consent of Sellers, which consent shall not be unreasonably withheld, conditioned or delayed. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(d) Notwithstanding anything to the contrary in this Agreement, Sellers shall have the exclusive right to control in all respects, and neither
Purchaser nor any of its Affiliates shall be entitled to participate in, any Tax Proceeding with respect to (A)&nbsp;any Tax Return of Sellers or any of their Subsidiaries (other than the Transferred Companies); and (B)&nbsp;any Tax Return of a
consolidated, combined or unitary group that includes Sellers or any of their Subsidiaries (including any Combined Tax Return); <U>provided</U>, <U>however</U>, that Sellers shall promptly notify Purchaser to the extent any such Tax Proceeding
involves any issues that could reasonably be expected to have a material adverse impact on the Purchaser Indemnified Parties and will (i)&nbsp;discuss Sellers&#146; approach with respect to contesting such issues with Purchaser and (ii)&nbsp;act in
good faith with respect to such issues. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">153 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(e) Notwithstanding anything to the contrary in this <U>Section&nbsp;10.06</U>, neither Purchaser
nor Sellers shall settle, compromise or abandon any Tax Proceeding that Purchaser or Sellers, as applicable, control pursuant to this <U>Section&nbsp;10.06</U> if such settlement, compromise or abandonment could be reasonably expected to materially
increase the Taxes of Reinsurer without the consent of Reinsurer, which consent shall not be unreasonably withheld, conditioned or delayed; <U>provided</U>, <U>however</U>, that this <U>Section&nbsp;10.06(e)</U> shall not apply with respect to any
such Tax Proceeding with respect to any Combined Tax Return or any income Tax Return of Purchaser, Sellers or any of their respective Affiliates. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Section&nbsp;10.07 <U>Cooperation and Exchange of Information</U>. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(a) Not more than sixty (60)&nbsp;days after the receipt of a request from Sellers, Purchaser shall, and shall cause its Affiliates to, provide
to Sellers a package of Tax information materials, including schedules and work papers, reasonably requested by Sellers to enable Sellers to prepare and file all Tax Returns required to be prepared and filed by them with respect to the Transferred
Companies or Barco (<U>provided</U>, that with respect to any Tax Return required to be prepared and filed by Sellers with respect to Barco for a Post-Closing Tax Period, Purchaser&#146;s obligations under this <U>Section&nbsp;10.07(a)</U> shall be
limited to Tax information materials with respect to annuity Policies written by the Company for which Barco is the Policy-owner). Purchaser shall prepare such package in good faith and shall use commercially reasonable efforts to prepare such
package in a manner consistent with Sellers&#146; past practice in all material respects. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(b) Each party to this Agreement shall, and
shall cause its Affiliates to, provide to the other parties to this Agreement such cooperation, documentation and information as either of them reasonably may request in (i)&nbsp;filing any Tax Return, amended Tax Return or claim for refund,
(ii)&nbsp;determining a liability for Taxes or an indemnity obligation under this <U>Article&nbsp;X</U> or a right to refund of Taxes, or (iii)&nbsp;conducting any Tax Proceeding. Such cooperation and information shall include providing necessary
powers of attorney, copies of all relevant portions of relevant Tax Returns, together with all relevant portions of relevant accompanying schedules and relevant work papers, relevant documents relating to rulings or other determinations by Taxing
Authorities and relevant records concerning the ownership and Tax basis of property and other information, which any such party may possess. Each party shall make its employees reasonably available on a mutually convenient basis at its cost to
provide an explanation of any documents or information so provided. Each party to this Agreement shall retain all Tax Returns, schedules and work papers, and all material records and other documents relating to Tax matters, of the relevant entities
for their respective Tax periods ending on or prior to the Closing Date until the later of (A)&nbsp;the expiration of the statute of limitations for the Tax periods to which the Tax Returns and other documents relate, or (B)&nbsp;seven
(7)&nbsp;years following the due date (without extension) for such Tax Returns. Thereafter, the party holding such Tax Returns or other documents may dispose of them after offering the other party reasonable notice and opportunity to take possession
of such Tax Returns and other documents at such other party&#146;s own expense. For the avoidance of doubt, the covenants and agreements in this <U>Section&nbsp;10.07(b)</U> shall apply to the provision of cooperation, documentation and information
with respect to, and to the retention of Tax Returns and other records and documents relating to Tax matters with respect to, Barco; </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">154 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
<U>provided</U>, <U>however</U>, that with respect to any Post-Closing Tax Period of Barco, the obligations set forth in this <U>Section&nbsp;10.07(b)</U> shall be limited to the provision of
cooperation, documentation and information with respect to, and the retention of Tax Returns and other records and documents relating to Tax matters with respect to, annuity Policies written by the Company for which Barco is the Policy-owner. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Section&nbsp;10.08 <U>Tax Sharing Agreements</U>. On or before the Closing Date, the rights and obligations of the Transferred Companies
pursuant to all Tax sharing agreements or arrangements (other than this Agreement), if any, to which any of the Transferred Companies, on the one hand, and Sellers or any of their Subsidiaries (other than the Transferred Companies), on the other
hand, are parties, shall terminate, and neither Sellers nor any of their Affiliates nor any of the Transferred Companies shall have any rights or obligations thereunder after the Closing in respect of such agreements or arrangements. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Section&nbsp;10.09 <U>Tax Treatment of Payments</U>. The parties agree that any payments between the parties pursuant to
<U>Article&nbsp;II</U> and any indemnification payments made by Sellers, Purchaser or Reinsurer, as applicable, under this <U>Article&nbsp;X</U> or <U>Article&nbsp;XIII</U> shall be treated as an adjustment to the Purchase Price or the Ceding
Commission, as applicable, for Tax purposes to the maximum extent permitted by applicable Law. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Section&nbsp;10.10 <U>Additional
Actions</U>. Except as otherwise expressly permitted by this <U>Article&nbsp;X</U> or <U>Section&nbsp;13.10</U>, neither Purchaser nor Reinsurer shall, or shall cause or permit any other Person to (a)&nbsp;file any ruling request with any Taxing
Authority that relates to any Tax or Tax Return of or with respect to a Transferred Company for a Pre-Closing Tax Period; (b)&nbsp;extend or waive the applicable statute of limitations with respect to any Tax or Tax Return of or with respect to a
Transferred Company for a Pre-Closing Tax Period; or (c)&nbsp;provide any disclosure to, or engage in any discussions with, any Taxing Authority solely regarding any Tax or Tax Return of or with respect to a Transferred Company for a Pre-Closing Tax
Period; in each case without the prior written consent of Sellers (which consent shall not be unreasonably withheld, conditioned or delayed). </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Section&nbsp;10.11 <U>Transfer Taxes</U>. Notwithstanding anything to the contrary in this Agreement, Sellers, on the one hand, and Purchaser,
on the other hand, shall each be responsible for fifty percent (50%)&nbsp;of any Transfer Tax imposed on or payable in connection with the transactions contemplated by this Agreement or the Ancillary Agreements, other than the transactions
contemplated by <U>Section&nbsp;8.14</U>. The party responsible under applicable Law for filing the Tax Returns with respect to such Transfer Taxes shall prepare and timely file such Tax Returns and shall timely pay all Transfer Taxes shown as due
thereon (subject to such preparing party&#146;s rights to indemnification from the non-preparing party for the non-preparing party&#146;s portion of such Transfer Taxes) and shall promptly provide a copy of such Tax Return to the other party.
Sellers and Purchaser shall, and shall cause their respective Affiliates to, cooperate to timely prepare and file any Tax Returns or other filings relating to such Transfer Taxes, including any claim for exemption or exclusion from the application
or imposition of any Transfer Taxes. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">155 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Section&nbsp;10.12 <U>Timing of Payments</U>. Any indemnity payment required to be made pursuant
to this <U>Article&nbsp;X</U> shall be made within ten (10)&nbsp;days after the Indemnified Party makes written demand upon the indemnifying party, but in no case earlier than five (5)&nbsp;days prior to the date on which the relevant Taxes or other
amounts are required to be paid to the applicable Taxing Authority. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Section&nbsp;10.13 <U>Tax Matters Coordination and Survival</U>.
Notwithstanding anything to the contrary in this Agreement, indemnification with respect to Taxes and the procedures relating thereto shall be governed exclusively by this <U>Article&nbsp;X</U> and the provisions of <U>Article&nbsp;XIII</U> (other
than <U>Section&nbsp;13.01</U>, the hanging paragraph of <U>Section&nbsp;13.02</U>, the hanging paragraph of <U>Section&nbsp;13.03</U>, and <U>Section&nbsp;13.08(g)</U>, <U>(i)</U>, <U>(j)</U>&nbsp;and <U>(k),</U> and, with respect to breaches of
the representations and warranties set forth in <U>Section&nbsp;4.19</U> and <U>Section&nbsp;5.16</U>, <U>Section&nbsp;13.10</U>) shall not apply. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Section&nbsp;10.14 <U>Purchase Price Allocation and Section&nbsp;338(h)(10) Elections</U>. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(a) Sellers and Purchaser shall, and shall cause their relevant Affiliates to, jointly make and file a timely and irrevocable election under
Section&nbsp;338(h)(10) of the Code (and any corresponding elections under any applicable state and local Tax Law) with respect to the acquisition of the Company Shares and the capital stock of the Company Subsidiary pursuant to this Agreement
(collectively, the &#147;<U>Section&nbsp;338(h)(10) Elections</U>&#148;). </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(b) Sellers shall prepare an allocation of the Purchase Price
(as finally determined pursuant to <U>Article&nbsp;II</U>, and together with other relevant amounts, including Liabilities deemed assumed for U.S. federal income Tax purposes) (the &#147;<U>Total Consideration</U>&#148;), which shall be allocated
(i)&nbsp;among the Company Shares, the Acquired Group Benefits Assets and the Acquired Life Assets in a manner consistent with (A)&nbsp;Section&nbsp;1060 of the Code and the Treasury Regulations promulgated thereunder and (B)&nbsp;the Final
Section&nbsp;338(h)(10) Calculation, and (ii)&nbsp;pursuant to the Section&nbsp;338(h)(10) Elections, the assets of the Transferred Companies as required pursuant to and in a manner consistent with Sections&nbsp;1060 and 338(h)(10) of the Code and
the Treasury Regulations promulgated thereunder and in a manner consistent with the Final Section&nbsp;338(h)(10) Calculation (collectively, the &#147;<U>Allocation</U>&#148;). Sellers shall deliver such Allocation to Purchaser within sixty
(60)&nbsp;days after the Purchase Price is finally determined pursuant to <U>Section&nbsp;2.11</U> (or, to the extent the Remaining Disputed Items are relevant to the Allocation, as promptly as reasonably practicable following the determination of
the Final Section&nbsp;338(h)(10) Calculation). Concurrently therewith, Sellers shall deliver to Purchaser supporting documentation setting forth the basis for the Allocation, including work papers and any outside valuation reports with respect to
the Allocation. Purchaser shall have the right to review such Allocation and, to the extent Purchaser disagrees with the Allocation, Purchaser shall notify Sellers in writing of any objections within thirty (30)&nbsp;days after receipt of such
Allocation. Purchaser and Sellers shall use their reasonable best efforts to reach agreement on the disputed items or amounts. The Allocation, as prepared by Sellers if no timely Purchaser objection has been given or as adjusted pursuant to any
agreement between the parties or a decision by the Independent Accountant in accordance with the following sentence (the &#147;<U>Final Allocation</U>&#148;) shall be final and binding on all parties and any of their Affiliates. If Sellers and
Purchaser are unable to reach an agreement regarding the Allocation within twenty (20)&nbsp;days after the receipt by Sellers of Purchaser&#146;s timely objection, then Sellers and Purchaser shall submit all such disputed items for resolution to the
Independent Accountant, whose decision shall be final and binding upon all parties and any of their Affiliates and whose fees and expenses shall be borne equally by the parties. Post-Closing adjustments pursuant to <U>Article&nbsp;II</U> and other
post-Closing adjustments, if any, to the Total Consideration shall be allocated among the assets to which the adjustments relate. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">156 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(c) As soon as reasonably practicable after the Closing, Purchaser and Sellers shall reasonably
cooperate in the preparation of all forms, attachments and schedules necessary to effectuate the Section&nbsp;338(h)(10) Elections, including IRS Forms 8023 and 8883 and any similar forms under applicable state and local Tax Laws (collectively, the
&#147;<U>Section&nbsp;338(h)(10) Forms</U>&#148;) and any other Tax Returns required to be filed in connection with the allocations set forth in the Final Allocation, including IRS Form 8594 and any similar forms under applicable state and local Tax
Laws (collectively, the &#147;<U>Section&nbsp;1060 Forms</U>&#148;), in each case in a manner consistent with the Final Allocation, unless otherwise required pursuant to a &#147;determination&#148; within the meaning of Section&nbsp;1313(a) of the
Code (or any analogous provision of state, local or non-U.S. Law). Purchaser and Sellers shall, or shall cause their relevant Affiliates to, timely file the Section&nbsp;338(h)(10) Forms with the applicable Taxing Authorities. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(d) Purchaser and Sellers shall, and shall cause their respective Affiliates to, cooperate with each other to take all actions necessary and
appropriate (including filing such additional forms, returns, elections, schedules and other documents as may be required) to effect and preserve the Section&nbsp;338(h)(10) Elections in accordance with the provisions of Treasury Regulations
Section&nbsp;1.338(h)(10)-1 (or any comparable provisions of state or local Tax Law) or any successor provisions. Sellers and Purchaser agree that neither of them shall, or shall permit any of their Affiliates to, revoke the Section&nbsp;338(h)(10)
Elections following the filing of the Section&nbsp;338(h)(10) Forms without the prior written consent of the other party. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(e) Sellers and
Purchaser shall and shall cause their Affiliates to (i)&nbsp;timely file all Tax Returns in a manner consistent with the Section&nbsp;338(h)(10) Elections, the Section&nbsp;338(h)(10) Forms, the Section&nbsp;1060 Forms and the Final Allocation, if
any, and (ii)&nbsp;take no position contrary thereto on any applicable Tax Return or in any Tax Proceeding or otherwise, in each case, except to the extent required to do otherwise pursuant to a &#147;determination&#148; within the meaning of
Section&nbsp;1313(a) of the Code (or any analogous provision of state, local or non-U.S. Law). In the event that the Section&nbsp;338(h)(10) Elections, the Section&nbsp;338(h)(10) Forms, the Section&nbsp;1060 Forms or the Final Allocation is
disputed by any Taxing Authority, the party receiving notice of the dispute shall promptly notify the other party of the dispute. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(f) Each
of Purchaser and Sellers shall deliver to the other party at the Closing one or more duly executed IRS Forms 8023 that reflect the Section&nbsp;338(h)(10) Elections, which Sellers shall file, or cause to be filed, with the IRS not later than thirty
(30)&nbsp;days following the Closing Date. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(g) The parties agree to treat the reinsurance transactions as occurring at the beginning of
the day following the Closing Date in accordance with Treasury Regulations Section&nbsp;1.338-1(d) for all Tax purposes. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">157 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Section&nbsp;10.15 <U>DAC Tax Election</U>. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(a) Notwithstanding anything to the contrary herein, Sellers and Purchaser (i)&nbsp;shall, and shall cause their Affiliates to, take all
actions necessary and appropriate (including filing such additional forms, returns, elections, schedules and other documents as may be required) to effect and preserve the election contemplated by Section&nbsp;1.848-2(g)(8) of the Treasury
Regulations to determine specified policy acquisition expenses with respect to the deemed assumption reinsurance transactions treated as occurring pursuant to the Section&nbsp;338(h)(10) Elections without regard to the general deductions limitation
of Section&nbsp;848(c)(1) of the Code (the &#147;<U>DAC Tax Election</U>&#148;), which DAC Tax Election shall be effective for the taxable year of each party that includes the Closing Date and for all subsequent taxable years during which this
Agreement remains in effect and (ii)&nbsp;shall not take, or permit any of their Affiliates to take, any action to revoke the DAC Tax Election. The terms used in this <U>Section&nbsp;10.15(a)</U> are defined by reference to Section&nbsp;1.848-2 of
the Treasury Regulations and Section&nbsp;848 of the Code, each as in effect as of the date of this Agreement. Each of Sellers and Purchaser agrees to, or to cause its applicable Affiliates to, (A)&nbsp;attach to its or such Affiliate&#146;s, as
applicable, U.S. federal income tax return filed for the first taxable year ending after the DAC Tax Election becomes effective (and each year thereafter) a schedule that identifies the transactions treated as occurring pursuant to the
Section&nbsp;338(h)(10) as the subject of the DAC Tax Election, (B)&nbsp;file its or such Affiliate&#146;s, as applicable, respective U.S. federal income tax returns in a manner consistent with the provisions of Treasury Regulations
Section&nbsp;1.848-2 and (C)&nbsp;in the case of the party with the net positive consideration with respect to the transactions treated as occurring pursuant to the Section&nbsp;338(h)(10) Elections for each taxable year, capitalize specified policy
acquisition expenses with respect to the transactions treated as occurring pursuant to the Section&nbsp;338(h)(10) Elections without regard to the general deductions limitation of Section&nbsp;848(c)(1) of the Code. To ensure consistency of
reporting between the applicable parties or as otherwise required by the Internal Revenue Service, Sellers and Purchaser agree to, and to cause their respective Affiliates to, exchange information pertaining to the amount of net consideration deemed
to be paid pursuant to the transactions treated as occurring pursuant to the Section&nbsp;338(h)(10) Elections. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(b) Subject to
<U>Section&nbsp;10.06(d)</U>, Purchaser shall control any Tax Proceeding with respect to the DAC Tax Election, <U>provided</U>, that (A)&nbsp;Purchaser shall consult with Sellers before taking any significant action (including submitting written
materials) in connection with such Tax Proceeding, (B)&nbsp;Purchaser shall defend such Tax Proceeding diligently and in good faith as if it were the only party in interest in connection with such Tax Proceeding, (C)&nbsp;Sellers shall be entitled
to participate in such Tax Proceeding and attend any meetings or conferences with the IRS and (D)&nbsp;Purchaser shall not settle, compromise or abandon any such Tax Proceeding without obtaining the prior written consent of Sellers, which consent
shall not be unreasonably withheld, conditioned or delayed. In the event that such Tax Proceeding results in the disallowance of the DAC Tax Election, Sellers shall indemnify Purchaser for the decrease (if any) that would have resulted to the Final
Section&nbsp;338(h)(10) Elections Adjustment Amount in light of such disallowance. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Section&nbsp;10.16 <U>Miscellaneous Covenants</U>. For
the avoidance of doubt, the parties agree that (i)&nbsp;prior to the deemed liquidation of the Transferred Companies resulting from the Section&nbsp;338(h)(10) Elections, the Transferred Companies shall retain any deferred items of income or loss it
may have as a result of Section&nbsp;13517 of the Tax Cuts and Jobs Act (HR 1) (or any successor provision of applicable law) and (ii)&nbsp;the Tax resulting from such items as a result of the transactions contemplated by this Agreement will be
addressed pursuant to <U>Section&nbsp;2.14</U>. </P>
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<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>CONDITIONS TO CLOSING </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Section&nbsp;11.01 <U>Conditions to the Obligations of Sellers and the Counterparties</U>. The obligations of the parties to effect the
Closing are subject to the satisfaction (or waiver by each party) as of the Closing of the following conditions: </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(a) <U>No Injunction or
Prohibition</U>. No Governmental Authority of competent jurisdiction shall have enacted, enforced or entered any Law or issued a final and non-appealable Order that is in effect on the Closing Date and that prevents or prohibits the consummation of
the transactions contemplated by this Agreement and the Ancillary Agreements. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(b) <U>Required Regulatory Approvals</U>. All Required
Regulatory Approvals shall have been obtained or made, without the imposition of a Burdensome Condition with respect to Purchaser (if Purchaser is the party asserting the failure of this condition), and shall be in full force and effect. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Section&nbsp;11.02 <U>Conditions to the Obligations of Purchaser</U>. The obligation of Purchaser to effect the Closing is subject to the
satisfaction (or waiver by Purchaser) as of the Closing of the following conditions: </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(a) <U>Sellers Representations and Warranties</U>.
(i)&nbsp;The Sellers Fundamental Representations shall be true and correct in all respects on and as of the Closing Date with the same force and effect as though made on and as of the Closing Date (except to the extent these are made as of another
date, in which case these shall be true and correct with the same force and effect as though made on and as of such other date), (ii)&nbsp;the representations and warranties set forth in <U>Section&nbsp;4.08(b)</U> shall be true and correct in all
respects on and as of the Closing Date with the same force and effect as though made on and as of the Closing Date and (iii)&nbsp;the representations and warranties set forth in <U>Article&nbsp;III</U> and <U>Article&nbsp;IV</U> (other than Sellers
Fundamental Representations and the representations and warranties set forth in <U>Section&nbsp;4.08(b)</U>) shall be true and correct (without giving effect to any exception or qualification in such representations and warranties relating to
&#147;material,&#148; &#147;materiality&#148; or &#147;Material Adverse Effect&#148; or any other materiality qualifiers or references in any such representations and warranties) in all respects on and as of the Closing Date with the same force and
effect as though made on and as of the Closing Date (except to the extent these are made as of another date, in which case these shall be true and correct with the same force and effect as though made on and as of such other date), except where the
failure of such representations and warranties in this clause&nbsp;(iii) to be so true and correct would not reasonably be expected to have, individually or in the aggregate, a Material Adverse Effect. Purchaser shall have received a certificate to
such effect dated the Closing Date and executed by a duly authorized officer of Sellers. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(b) <U>Sellers Covenants</U>. The covenants and
agreements of Sellers and LMGI to Purchaser set forth in this Agreement to be performed or complied with at or prior to the Closing shall have been duly performed or complied with in all material respects. Purchaser shall have received a certificate
to such effect dated the Closing Date and executed by a duly authorized officer of Sellers. </P>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(c) <U>Reinsurer Representations and Warranties</U>. The representations and warranties of
Reinsurer contained in <U>Section&nbsp;7.01</U> shall be true and correct in all respects on and as of the Closing Date with the same force and effect as though made on and as of the Closing Date (except to the extent these are made as of another
date, in which case these shall be true and correct with the same force and effect as though made on and as of such other date). Purchaser shall have received a certificate to such effect dated the Closing Date and executed by a duly authorized
officer of Reinsurer. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(d) <U>Reinsurance Agreement</U>. Counterparts to the Reinsurance Agreement shall have been duly executed and
delivered by Reinsurer on or prior to the Closing Date. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(e) <U>Ancillary Agreements</U>. Counterparts to each Ancillary Agreement to which
Purchaser is a party (other than the Life Business Transition Services Agreement) shall have been duly executed and delivered by the other parties thereto on or prior to the Closing Date. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(f) <U>Restructuring Transactions</U>. The Restructuring Transactions shall have been consummated. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(g) <U>Recapture Event</U>. Assuming for the purposes of this <U>Section&nbsp;11.02(g)</U> that the Reinsurance Agreement is in full force and
effect at all applicable times prior to the Closing, since the date of this Agreement, there shall not have been a Recapture Event (as defined in the Reinsurance Agreement, but disregarding clauses&nbsp;(a) and (b)&nbsp;of such definition) under the
Reinsurance Agreement that is continuing as of the Closing Date. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(h) <U>Reinsurer</U>. Reinsurer shall consummate the transactions
contemplated by this Agreement, including the entry into the Reinsurance Agreement, pursuant to <U>Section&nbsp;2.07</U> at the Closing. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Section&nbsp;11.03 <U>Conditions to the Obligations of Reinsurer</U>. The obligation of Reinsurer to effect the Closing is subject to the
satisfaction (or waiver by Reinsurer) as of the Closing of the following conditions: </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(a) <U>Sellers Representations and Warranties</U>.
(i)&nbsp;The Sellers Fundamental Representations shall be true and correct in all respects on and as of the Closing Date with the same force and effect as though made on and as of the Closing Date (except to the extent these are made as of another
date, in which case these shall be true and correct with the same force and effect as though made on and as of such other date), (ii)&nbsp;the representations and warranties set forth in <U>Section&nbsp;5.07(b)</U> shall be true and correct in all
respects on and as of the Closing Date with the same force and effect as though made on and as of the Closing Date and (iii)&nbsp;the representations and warranties set forth in <U>Article&nbsp;III</U> and <U>Article&nbsp;V</U> (other than Sellers
Fundamental Representations and the representations and warranties set forth in <U>Section&nbsp;5.07(b)</U>) shall be true and correct (without giving effect to any exception or qualification in such representations and warranties relating to
&#147;material,&#148; &#147;materiality&#148; or &#147;Material Adverse Effect&#148; or any other materiality qualifiers or references in any such representations and warranties) in all respects on and as of the Closing Date with the same force and
effect as though made on and as of the Closing Date (except to the extent these are made as of another date, in which case these shall be true and correct with the same force and effect as though made on and as of such other
</P>
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date), except where the failure of such representations and warranties in this clause&nbsp;(iii) to be so true and correct would not reasonably be expected to have, individually or in the
aggregate, a Material Adverse Effect. Reinsurer shall have received a certificate to such effect dated the Closing Date and executed by a duly authorized officer of Sellers. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(b) <U>Sellers Covenants</U>. The covenants and agreements of Sellers and LMGI to Reinsurer set forth in this Agreement to be performed or
complied with at or prior to the Closing shall have been duly performed or complied with in all material respects. Reinsurer shall have received a certificate to such effect dated the Closing Date and executed by a duly authorized officer of
Sellers. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(c) <U>Purchaser Representations and Warranties</U>. The representations and warranties of Purchaser contained in
<U>Section&nbsp;6.01</U> shall be true and correct in all respects on and as of the Closing Date with the same force and effect as though made on and as of the Closing Date (except to the extent these are made as of another date, in which case these
shall be true and correct with the same force and effect as though made on and as of such other date). Reinsurer shall have received a certificate to such effect dated the Closing Date and executed by a duly authorized officer of Purchaser. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(d) <U>Reinsurance Agreement</U>. Counterparts to the Reinsurance Agreement shall have been duly executed and delivered by the Company on or
prior to the Closing Date. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(e) <U>Ancillary Agreements</U>. Counterparts to each Ancillary Agreement to which Reinsurer is a party (other
than the Life Business Transition Services Agreement and the Distribution Agreement) shall have been duly executed and delivered by the other parties thereto on or prior to the Closing Date. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(f) <U>Restructuring Transactions</U>. The Restructuring Transactions shall have been consummated. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Section&nbsp;11.04 <U>Conditions to the Obligations of Sellers</U>. The obligations of Sellers to effect the Closing are subject to the
satisfaction (or waiver by Sellers) as of the Closing of the following conditions: </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(a) <U>Purchaser Representations and Warranties</U>.
(i)&nbsp;The Purchaser Fundamental Representations shall be true and correct in all respects on and as of the Closing Date with the same force and effect as though made on and as of the Closing Date (except to the extent these are made as of another
date, in which case these shall be true and correct with the same force and effect as though made on and as of such other date), (ii)&nbsp;the representations and warranties set forth in <U>Article&nbsp;VI</U> (other than Purchaser Fundamental
Representations) shall be true and correct (without giving effect to any exception or qualification in such representations and warranties relating to &#147;material,&#148; &#147;materiality&#148; or any other materiality qualifiers or references in
any such representations and warranties) in all respects on and as of the Closing Date with the same force and effect as though made on and as of the Closing Date (except to the extent these are made as of another date, in which case these shall be
true and correct with the same force and effect as though made on and as of such other date), except where the failure of such representations and warranties in this clause&nbsp;(ii) to be so true and correct would not, individually or in the
aggregate, </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">161 </P>


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reasonably be expected to materially impair or materially delay the ability of Purchaser or any Affiliate of Purchaser party to an Ancillary Agreement to perform its or their respective
obligations under this Agreement and the other Transaction Agreements, including consummation of the transactions contemplated hereby and thereby. Sellers shall have received a certificate to such effect dated the Closing Date and executed by a duly
authorized officer of Purchaser. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(b) <U>Purchaser Covenants</U>. The covenants and agreements of Purchaser to Sellers set forth in this
Agreement to be performed or complied with at or prior to the Closing shall have been duly performed or complied with in all material respects. Sellers shall have received a certificate to such effect dated the Closing Date and executed by a duly
authorized officer of Purchaser. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(c) <U>Reinsurer Representations and Warranties</U>. The representations and warranties of Reinsurer
contained in <U>Section&nbsp;7.01</U> shall be true and correct in all respects on and as of the Closing Date with the same force and effect as though made on and as of the Closing Date (except to the extent these are made as of another date, in
which case these shall be true and correct with the same force and effect as though made on and as of such other date). Sellers shall have received a certificate to such effect dated the Closing Date and executed by a duly authorized officer of
Reinsurer. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(d) <U>Ancillary Agreements</U>. Counterparts to each Ancillary Agreement to which a Seller is a party (other than the
Distribution Agreement) shall have been duly executed and delivered by the other parties thereto on or prior to the Closing Date. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(e)
<U>Rating of Purchaser and Company</U>. (i)&nbsp;With respect to the rating issued by each of Standard&nbsp;&amp; Poor&#146;s Corporation with respect to Purchaser&#146;s claims-paying ability and A.M. Best Company, Inc. with respect to
Purchaser&#146;s financial strength, Purchaser&#146;s ratings shall not have been downgraded below &#147;A&#148; or &#147;A,&#148; respectively, or withdrawn by either of such rating agencies and (ii)&nbsp;Purchaser shall have completed a ratings
evaluation services review with (x)&nbsp;Standard&nbsp;&amp; Poor&#146;s Corporation and (y)&nbsp;A.M. Best Corporation with respect to the post-Closing ratings of the Company, and each of Standard&nbsp;&amp; Poor&#146;s Corporation and A.M. Best
Corporation shall have affirmed that no downgrade of the Company&#146;s financial strength rating below &#147;A&#148; or &#147;A,&#148; respectively, shall result, or is reasonably likely to result, from the consummation of the transactions
contemplated by this Agreement; <U>provided</U> that this <U>Section&nbsp;11.04(e)</U> shall not apply in the event the five (5)&nbsp;Business Day period described in <U>Section&nbsp;12.01(g)</U> shall have expired without Sellers exercising their
right to terminate this Agreement in accordance with <U>Section&nbsp;12.01(g)</U>. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(f) <U>Restructuring Transactions</U>. The
Restructuring Transactions shall have been consummated; <U>provided</U> that this <U>Section&nbsp;11.04(f)</U> shall not apply in the event Sellers have not complied in full with their obligations set forth in <U>Section&nbsp;8.14</U>. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">162 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>ARTICLE&nbsp;XII </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>TERMINATION </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Section&nbsp;12.01 <U>Termination of Agreement</U>. This Agreement may be terminated, and the transactions contemplated hereby abandoned, at
any time prior to the Closing: </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(a) by mutual written consent of the parties; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(b) by Sellers if (i)&nbsp;Sellers are not in material breach of any of their covenants or agreements hereunder and (ii)&nbsp;Purchaser or
Reinsurer is in material breach of any of its covenants or agreements or any of its representations or warranties (or any such representation or warranty shall cease to be true) set forth in this Agreement, which breach or failure to be true, either
individually or in the aggregate with all other breaches by such party (or failures of such representations or warranties to be true), would constitute, if occurring or continuing on the Closing Date, the failure of a condition set forth in
<U>Section&nbsp;11.04(a)</U>, <U>Section&nbsp;11.04(b)</U>, or <U>Section&nbsp;11.04(c)</U>, and such breach or failure to be true either (A)&nbsp;is not capable of being cured prior to the Outside Date or (B)&nbsp;if curable, is not cured within
the earlier of (I)&nbsp;thirty (30)&nbsp;days after the giving of written notice thereof by Sellers to Purchaser or Reinsurer, as applicable, and (II)&nbsp;two (2)&nbsp;Business Days prior to the Outside Date (as such Outside Date may be extended
pursuant to <U>Section&nbsp;12.01(e)</U>); </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(c) by Purchaser, if (i)&nbsp;Purchaser is not in material breach of any of its covenants or
agreements hereunder and (ii)&nbsp;Sellers are, or, as applicable, Reinsurer is, in material breach of any of their or its covenants or agreements or any of their or its representations or warranties (or any such representation or warranty shall
cease to be true) set forth in this Agreement, which breach or failure to be true, either individually or in the aggregate with all other breaches by such party (or failures of such representations or warranties to be true), would constitute, if
occurring or continuing on the Closing Date, the failure of a condition set forth in <U>Section&nbsp;11.02(a)</U>, <U>Section&nbsp;11.02(b)</U> or <U>Section&nbsp;11.02(c)</U>, and such breach or failure to be true is either (A)&nbsp;not capable of
being cured prior to the Outside Date or (B)&nbsp;if curable, is not cured within the earlier of (I)&nbsp;thirty (30)&nbsp;days after the giving of written notice by Purchaser to Sellers or Reinsurer, as applicable, and (II)&nbsp;two
(2)&nbsp;Business Days prior to the Outside Date (as such Outside Date may be extended pursuant to <U>Section&nbsp;12.01(e)</U>); </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(d) by
Reinsurer, if (i)&nbsp;Reinsurer is not in material breach of any of its covenants or agreements hereunder and (ii)&nbsp;Sellers are, or, as applicable, Purchaser is, in material breach of any of their or its covenants or agreements or any of their
or its representations or warranties (or any such representation or warranty shall cease to be true) set forth in this Agreement, which breach or failure to be true, either individually or in the aggregate with all other breaches by such party (or
failures of such representations or warranties to be true), would constitute, if occurring or continuing on the Closing Date, the failure of a condition set forth in <U>Section&nbsp;11.03(a)</U>, <U>Section&nbsp;11.03(b)</U>, or
<U>Section&nbsp;11.03(c)</U>, and such breach or failure to be true is either (A)&nbsp;not capable of being cured prior to the Outside Date or (B)&nbsp;if curable, is not cured within the earlier of (I)&nbsp;thirty (30)&nbsp;days after the giving of
written notice by Reinsurer to Sellers or Purchaser, as applicable, and (II)&nbsp;two (2)&nbsp;Business Days prior to the Outside Date (as such Outside Date may be extended pursuant to <U>Section&nbsp;12.01(e)</U>); </P>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(e) by Sellers, Purchaser or Reinsurer, if the Closing has not occurred on or before
August&nbsp;18, 2018 (the &#147;<U>Outside Date</U>&#148;); <U>provided</U>, <U>however</U>, that, if on the date that would have been the Outside Date the conditions set forth in <U>Section&nbsp;11.01(b)</U> are the only conditions in
<U>Article&nbsp;XI</U> (other than those conditions that by their terms are to be satisfied at the Closing) that shall not have been satisfied or waived on or before such date, the Outside Date shall automatically be extended to November&nbsp;18,
2018 without any action by any of the parties; <U>provided</U>, <U>further</U>, that the right to terminate this Agreement under this <U>Section&nbsp;12.01(e)</U> shall not be available to either Sellers, Purchaser or Reinsurer if the failure of
such occurrence was primarily due to the failure, of the terminating party to materially perform any of its obligations under this Agreement; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(f) by Sellers, Purchaser or Reinsurer if a Governmental Authority of competent jurisdiction issues a final and non-appealable Order that
prohibits the consummation of the transactions contemplated by this Agreement and the Ancillary Agreements; <U>provided</U> that the party seeking to terminate this Agreement pursuant to this <U>Section&nbsp;12.01(f)</U> shall have complied with its
obligations pursuant to <U>Section&nbsp;8.03</U> and used its reasonable best efforts to remove such Order to the extent required thereby; <U>provided</U>, <U>further</U>, that the right to terminate this Agreement under this
<U>Section&nbsp;12.01(f)</U> shall not be available to any of Sellers, Purchaser or Reinsurer if the issuance of such final and non-appealable Order was primarily due to the failure, of the terminating party to materially perform any of its
obligations under this Agreement; and </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(g) by Sellers, if Standard&nbsp;&amp; Poor&#146;s Rating Service or A.M. Best Rating Service has
reduced its rating of Purchaser or the Company (other than as a result of a reduction in rating of the Company that is caused by any action or inaction of Sellers or their Affiliates) such as would cause any condition set forth in
<U>Section&nbsp;11.04(e)</U> to fail to be satisfied, and such reduction has not been reversed within twenty (20)&nbsp;Business Days such that the conditions in <U>Section&nbsp;11.04(e)</U> would then be satisfied; <U>provided</U>, <U>however</U>,
that Sellers shall have exercised the foregoing right to terminate within five (5)&nbsp;Business Days following the conclusion of the cure period. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Section&nbsp;12.02 <U>Procedure on Termination</U>. In the event of termination and abandonment by Sellers, Purchaser or Reinsurer pursuant to
<U>Section&nbsp;12.01</U>, written notice thereof shall forthwith be given to the other parties, and this Agreement shall terminate, without further action by Sellers, Purchaser or Reinsurer. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Section&nbsp;12.03 <U>Effect of Termination</U>. If this Agreement is terminated in accordance with <U>Section&nbsp;12.01</U>, this Agreement
shall thereafter become void and have no effect, and no party shall have any Liability to the other parties, their respective Affiliates or any of their respective Representatives in connection with this Agreement, except that (a)&nbsp;the
obligations of the parties contained in <U>Section&nbsp;8.12(d)</U> (subject to <U>Section&nbsp;8.12(e)</U>), this <U>Section&nbsp;12.03</U> and each of <U>Article&nbsp;I</U> and <U>Article&nbsp;XIV</U> shall survive, (b)&nbsp;the Confidentiality
Agreements shall survive the termination of this Agreement, and (c)&nbsp;termination will not relieve any party from Liability for (x)&nbsp;any willful and material breach of this Agreement prior to such termination or (y)&nbsp;fraud or intentional
misconduct. </P>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>ARTICLE&nbsp;XIII </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>SURVIVAL; INDEMNIFICATION </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Section&nbsp;13.01 <U>Survival</U>. All representations and warranties made by Sellers, Purchaser and Reinsurer, respectively, in
<U>Article&nbsp;III</U>, <U>Article&nbsp;IV</U>, <U>Article&nbsp;V</U>, <U>Article&nbsp;VI</U> and <U>Article&nbsp;VII</U> and all claims and causes of action with respect thereto shall terminate on the date that is eighteen (18)&nbsp;months from
the Closing Date, except that (a)&nbsp;the Sellers Fundamental Representations shall survive until the expiration of the applicable statute of limitations, (b)&nbsp;the Purchaser Fundamental Representations shall survive until the expiration of the
applicable statute of limitations, (c)&nbsp;the Reinsurer Fundamental Representations shall survive until the expiration of the applicable statute of limitations, (d)&nbsp;the representations and warranties contained in <U>Section&nbsp;4.20</U>
shall survive until the date that is sixty (60)&nbsp;days following the expiration of the applicable statute of limitations (giving effect to valid extensions), and (e)&nbsp;the representations and warranties contained in <U>Section&nbsp;4.19</U>
and <U>Section&nbsp;5.16</U> shall survive for a period of five (5)&nbsp;years from the Closing Date (subject to <U>Section&nbsp;13.10</U>). All of the covenants and agreements made by Sellers, Purchaser and Reinsurer in this Agreement
(i)&nbsp;which, by their terms, are to be performed or complied with in their entirety at or prior to the Closing, and all claims and causes of action with respect thereto, shall survive for a period of twelve (12)&nbsp;months following the Closing;
(ii)&nbsp;which, by their terms, are to be performed or complied with in whole or in part following the Closing, and all claims and causes of action with respect thereto, shall survive for six (6)&nbsp;months beyond the period provided in such
covenants and agreements, if any, or until performed in accordance with their respective terms; and (iii)&nbsp;set forth in <U>Article&nbsp;X</U> shall survive the Closing Date until the expiration of the applicable statutory periods of limitations.
Subject to <U>Section&nbsp;13.10</U>, if a Claim Notice meeting the requirements of <U>Section&nbsp;13.09(a)</U> with respect to indemnification under this <U>Article&nbsp;XIII</U> shall have been given pursuant to <U>Section&nbsp;14.01</U> within
the applicable survival or indemnification period, the representations, warranties, covenants and agreements that are the subject of such indemnification claim shall survive with respect to such Claim Notice solely for purposes of its resolution in
accordance with the terms hereof. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Section&nbsp;13.02 <U>Sellers&#146; Indemnification of Purchaser</U>. From and after the Closing, and
subject to the limitations set forth in this <U>Article&nbsp;XIII</U>, Sellers, on a several and not joint basis, shall defend, indemnify and hold harmless Purchaser, its Affiliates and their respective Representatives, successors and assigns
(&#147;<U>Purchaser Indemnified Parties</U>&#148;) from any and all Losses to the extent arising out of or resulting from: </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(a) any breach
or inaccuracy by such Seller of a Sellers Fundamental Representation; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(b) any breach or inaccuracy of any representation or warranty made
by such Seller contained in <U>Article&nbsp;III</U> or <U>Article&nbsp;IV</U> (other than a Sellers Fundamental Representation, any representation or warranty made by Sellers in <U>Section&nbsp;4.19</U> or <U>Section&nbsp;4.20</U>, which are
governed by <U>Article&nbsp;X</U> and <U>Section&nbsp;13.10</U>, or any representation or warranty made by Sellers in <U>Section&nbsp;4.07</U> with respect to Actions or arbitrations that are initiated or threatened in writing on or after the date
hereof and prior to the Closing Date); </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(c) any breach of or failure to perform any covenant or agreement of such Seller to Purchaser
contained in this Agreement; </P>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(d) any Excluded Group Liabilities; or </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(e) any breach or inaccuracy of any representation or warranty made by such Seller contained in <U>Section&nbsp;4.07</U> with respect to
Actions or arbitrations that are initiated or threatened in writing on or after the date hereof and prior to the Closing Date. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">No claim for
indemnification may be brought pursuant to this <U>Section&nbsp;13.02</U> by any party for any Losses comprising death benefits or similar policy benefits or reserves with respect to Discovered Contracts (claims with respect to such Losses shall be
resolved pursuant to <U>Section&nbsp;8.23</U>). No claim for indemnification in respect of <U>Section&nbsp;4.04</U>, <U>Section&nbsp;4.06</U>, or, to the extent relating to <U>Section&nbsp;5.03</U> or <U>Section&nbsp;5.05</U>,
<U>Section&nbsp;4.32</U>, may be brought pursuant to this <U>Section&nbsp;13.02</U> by any party until the Post-Closing Balance Sheet has been finally determined pursuant to <U>Article&nbsp;II</U>. No party shall be entitled to recover any Losses
for a claim made pursuant to this <U>Section&nbsp;13.02</U> or <U>Section&nbsp;10.01(a)</U> to the extent that the underlying facts supporting such claim were affirmatively raised by a Purchaser Indemnified Party in connection with a claim resolved
in accordance with the final determination of the Final Statements pursuant to <U>Article&nbsp;II</U> and such claim is not supported by any material new facts or circumstances. No claim for indemnification may be brought by a Purchaser Indemnified
Party pursuant to <U>Section&nbsp;13.02(b)</U> in respect of a breach or inaccuracy of any representation deemed set forth in <U>Section&nbsp;4.32</U> to the extent that the basis for such claim for indemnification is the subject of a claim for
indemnification that is arising out of substantially the same facts and circumstances and that has already been initiated pursuant to <U>Section&nbsp;13.03(b)</U> (I)&nbsp;by a Reinsurer Indemnified Party to the extent that Sellers provide timely
written notice thereof to such Purchaser Indemnified Party and such Purchaser Indemnified Party had the opportunity to participate in such Action or arbitration and was afforded the opportunity to be named as a party or (II) by a Purchaser
Indemnified Party (in its capacity as a Reinsurer Indemnified Party). </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Section&nbsp;13.03 <U>Sellers&#146; Indemnification of
Reinsurer</U>. From and after the Closing, and subject to the limitations set forth in this <U>Article&nbsp;XIII</U>, Sellers shall, on a several and not joint basis, defend, indemnify and hold harmless Reinsurer, its Affiliates and their respective
Representatives, successors and assigns (&#147;<U>Reinsurer Indemnified Parties</U>&#148;) from any and all Losses to the extent arising out of or resulting from: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(a) any breach or inaccuracy by such Seller of a Sellers Fundamental Representation (other than any Sellers Fundamental Representation set
forth in <U>Section&nbsp;4.01</U>); </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(b) any breach or inaccuracy of any representation or warranty made by such Seller contained in
<U>Article&nbsp;III</U> or <U>Article&nbsp;V</U> (other than a Sellers Fundamental Representation or any representation or warranty made by such Seller in <U>Section&nbsp;5.16</U>, which is governed by <U>Article&nbsp;X</U> and
<U>Section&nbsp;13.10</U>, or any representation or warranty made by Sellers in Section&nbsp;5.06 with respect to Actions or arbitrations that are initiated or threatened in writing on or after the date hereof and prior to the Closing Date); </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(c) any breach of or failure to perform any covenant or agreement of a Seller to Reinsurer contained in this Agreement; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(d) any Excluded Life Liabilities; or </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">166 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(e) any breach or inaccuracy of any representation or warranty made by such Seller contained in
Section&nbsp;5.06 with respect to Actions or arbitrations that are initiated or threatened in writing on or after the date hereof and prior to the Closing Date. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">No claim for indemnification may be brought pursuant to this <U>Section&nbsp;13.03</U> by any party for any Losses comprising death benefits or similar policy
benefits or reserves with respect to Discovered Contracts (claims with respect to such Losses shall be resolved pursuant to <U>Section&nbsp;8.23</U>). No claim for indemnification may be brought in respect of <U>Section&nbsp;5.03</U> or
<U>Section&nbsp;5.05</U> pursuant to this <U>Section&nbsp;13.03</U> by any party until the Post-Closing Settlement Report has been finally determined pursuant to <U>Article&nbsp;II</U>. No party shall be entitled to recover any Losses for a claim
made pursuant to this <U>Section&nbsp;13.03</U> or <U>Section&nbsp;10.01(b)</U> to the extent that the underlying facts supporting such claim were affirmatively raised by a Reinsurer Indemnified Party in connection with a claim resolved in
accordance with the final determination of the Final Statements pursuant to <U>Article&nbsp;II</U> and such claim is not supported by any material new facts or circumstances. In addition, upon (x)&nbsp;the failure of the conditions set forth in
<U>Sections 11.02(g)</U> and <U>11.02(h)</U> (and Purchaser&#146;s waiver of the same) and Reinsurer&#146;s failure to consummate the transactions contemplated by this Agreement (including Reinsurer&#146;s failure to enter into the Reinsurance
Agreement at the Closing pursuant to <U>Section&nbsp;2.07</U>), or (y)&nbsp;the occurrence of a Recapture Event (as defined in the Reinsurance Agreement) under the Reinsurance Agreement and the subsequent exercise by Purchaser of its right of
recapture thereunder, Purchaser and its Affiliates and their respective Representatives, successors and assigns shall be deemed to be Reinsurer Indemnified Parties herein and shall be entitled to the rights, benefits and remedies set forth in this
<U>Article&nbsp;XIII</U> with respect to Reinsurer Indemnified Parties, subject to the limitations on such rights, benefits and remedies set forth in this <U>Article&nbsp;XIII</U> (other than with respect to any Reinsured Contract novated to
Reinsurer pursuant to the Reinsurance Agreement). Notwithstanding the foregoing, (I)&nbsp;in no event shall Purchaser or its Affiliates, or their respective Representatives, be entitled to recover more than once (as Purchaser Indemnified Parties and
as Reinsurer Indemnified Parties, or otherwise) in respect of the same Loss and (II) no claim for indemnification may be brought by a Purchaser Indemnified Party (in its capacity as a Reinsurer Indemnified Party) pursuant to
<U>Section&nbsp;13.03(b)</U> or <U>Section&nbsp;10.01(b)(ii)</U> to the extent that the basis for such claim for indemnification is the subject of a related claim for indemnification that is arising out of substantially the same facts and
circumstances and that has already been initiated pursuant <U>Section&nbsp;13.02(b)</U> or <U>Section&nbsp;10.01(b)(ii)</U> in respect of a breach or inaccuracy of any corresponding <U>Article&nbsp;V</U> representation deemed set forth in
<U>Section&nbsp;4.32</U> so long as the Purchaser Indemnified Party (in its capacity as a Reinsurer Indemnified Party) received notice from Seller of such claim, had the opportunity to participate in such Action or arbitration and was afforded the
opportunity to be named as a party in such capacity. For the avoidance of doubt, upon Reinsurer&#146;s failure to consummate the transactions contemplated by this Agreement (including Reinsurer&#146;s failure to enter into the Reinsurance Agreement
at the Closing pursuant to <U>Section&nbsp;2.07</U>), no claim for indemnification may be brought by Reinsurer pursuant to this <U>Section&nbsp;13.03</U> or <U>Section&nbsp;10.01(b)</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Section&nbsp;13.04 <U>Purchaser&#146;s Indemnification of Sellers</U>. From and after the Closing, and subject to the limitations set forth in
this <U>Article&nbsp;XIII</U>, Purchaser shall defend, indemnify and hold harmless Sellers, their Affiliates and their respective Representatives, successors and assigns (&#147;<U>Sellers Indemnified Parties</U>&#148;) from any and all Losses to the
extent arising out of or resulting from: </P>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(a) any breach or inaccuracy of any Purchaser Fundamental Representation; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(b) any breach or inaccuracy of any representation or warranty made by Purchaser contained in <U>Article&nbsp;VI</U> (other than a Purchaser
Fundamental Representation); </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(c) any breach of or failure to perform any covenant or agreement of Purchaser to Sellers contained in this
Agreement; or </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(d) any Assumed Group Benefits Liabilities. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Section&nbsp;13.05 <U>Reinsurer&#146;s Indemnification of Sellers</U>. From and after the Closing, and subject to the limitations set forth in
this <U>Article&nbsp;XIII</U>, Reinsurer shall defend, indemnify and hold harmless the Sellers Indemnified Parties from any and all Losses to the extent arising out of or resulting from: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(a) any breach or inaccuracy of any Reinsurer Fundamental Representation; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(b) any breach or inaccuracy of any representation or warranty made by Reinsurer contained in <U>Article&nbsp;VII</U> (other than a Reinsurer
Fundamental Representation); </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(c) any breach of or failure to perform any covenant or agreement of Reinsurer to Sellers contained in this
Agreement; or </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(d) any Assumed Life Liabilities. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Section&nbsp;13.06 <U>Purchaser&#146;s Indemnification of Reinsurer</U>. From and after the Closing, and subject to the limitations set forth
in this <U>Article&nbsp;XIII</U>, Purchaser shall defend, indemnify and hold harmless the Reinsurer Indemnified Parties from any and all Losses to the extent arising out of or resulting from: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(a) any breach or inaccuracy of any Purchaser Fundamental Representation; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(b) any breach or inaccuracy of any representation or warranty made by Purchaser contained in <U>Article&nbsp;VI</U>; or </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(c) any breach of or failure to perform any covenant or agreement of Purchaser to Reinsurer contained in this Agreement. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Section&nbsp;13.07 <U>Reinsurer&#146;s Indemnification of Purchaser</U>. From and after the Closing, and subject to the limitations set forth
in this <U>Article&nbsp;XIII</U>, Reinsurer shall defend, indemnify and hold harmless the Purchaser Indemnified Parties from any and all Losses to the extent arising out of or resulting from: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(a) any breach or inaccuracy of any Reinsurer Fundamental Representation; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(b) any breach or inaccuracy of any representation or warranty made by Reinsurer contained in <U>Article&nbsp;VII</U> (other than a Reinsurer
Fundamental Representation); or </P>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(c) any breach of or failure to perform any covenant or agreement of Reinsurer to Purchaser
contained in this Agreement. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Section&nbsp;13.08 <U>Limitations on Indemnification</U>. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(a) Sellers shall not be liable to any Purchaser Indemnified Party for indemnification under <U>Section&nbsp;13.02(b)</U> or
<U>Section&nbsp;13.02(e)</U>, or for Group Specified Damages, (i)&nbsp;for (A)&nbsp;in the case of <U>Section&nbsp;13.02(b)</U> or Group Specified Damages, any individual or series of related indemnifiable Losses which do not exceed one hundred
thousand dollars ($100,000) (the &#147;<U>Deminimis Amount</U>&#148;) (which Losses shall not be counted towards the Group Deductible) or (B)&nbsp;in the case of <U>Section&nbsp;13.02(e)</U>, any individual or series of related indemnifiable Losses
which do not exceed three hundred thousand dollars ($300,000) (&#147;<U>Specified Deminimis Amount</U>&#148;) (which Losses shall not be counted towards the Group Deductible or the Specified Deductible) and (ii)&nbsp;until the aggregate amount of
Lincoln Deductible-Limited Losses equals an amount that exceeds sixteen million five hundred thousand dollars ($16,500,000) (the &#147;<U>Group Deductible</U>&#148;), in which event, Sellers, on a several and not joint basis, shall only be required
to pay or be liable for Lincoln Deductible Limited Losses that are collectively in excess of the Group Deductible. As used herein, &#147;<U>Lincoln Deductible-Limited Losses</U>&#148; means (I)&nbsp;the aggregate amount of indemnifiable Losses
pursuant to <U>Section&nbsp;13.02(b)</U> and Group Specified Damages <I>plus</I> (II) if the aggregate amount of indemnifiable Losses pursuant to <U>Section&nbsp;13.02(e)</U> exceeds three million dollars ($3,000,000) (the &#147;<U>Specified
Deductible</U>&#148;), the aggregate amount of indemnifiable Losses pursuant to <U>Section&nbsp;13.02(e)</U> (inclusive of the Specified Deductible). The aggregate amount of all Losses for which Sellers, on a several and not joint basis, shall be
liable pursuant to <U>Section&nbsp;13.02(b)</U> and <U>Section&nbsp;13.02(e)</U> shall not exceed one hundred sixty-five million dollars ($165,000,000) (the &#147;<U>Group Cap</U>&#148;). The aggregate amount of all Losses for which Sellers, on a
several and not joint basis, shall be liable pursuant to <U>Section&nbsp;13.02</U> (other than <U>Section&nbsp;13.02(d)</U>) and <U>Section&nbsp;10.01(a)(vi)</U> and for Group Specified Damages shall not exceed an amount equal to the Purchase Price
less the Aggregate Ceding Commission. For the avoidance of doubt, any indemnification under <U>Section&nbsp;13.02(b)</U> in respect of the representations and warranties contained in <U>Section&nbsp;4.32</U> shall be subject to the limitations set
forth in this <U>Section&nbsp;13.08(a)</U>. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(b) Sellers shall not be liable to any Reinsurer Indemnified Party for indemnification under
<U>Section&nbsp;13.03(b)</U> or <U>Section&nbsp;13.03(e)</U>, or for Life Specified Damages, (i)&nbsp;for (A)&nbsp;in the case of <U>Section&nbsp;13.03(b)</U> or Life Specified Damages, any individual or series of related indemnifiable Losses which
do not exceed the Deminimis Amount (which Losses shall not be counted towards the Life Deductible) or (B)&nbsp;in the case of <U>Section&nbsp;13.03(e)</U>, any individual or series of related indemnifiable Losses which do not exceed the Specified
Deminimis Amount (which Losses shall not be counted towards the Life Deductible or the Specified Deductible) and (ii)&nbsp;until the aggregate amount of Protective Deductible-Limited Losses equals an amount that exceeds five million dollars
($5,000,000) (the &#147;<U>Life Deductible</U>&#148;), in which event, Sellers, on a several and not joint basis, shall only be required to pay or be liable for Protective Deductible-Limited Losses that are collectively in excess of the Life
Deductible. As used herein, &#147;<U>Protective Deductible-Limited Losses</U>&#148; means (I)&nbsp;the aggregate amount of indemnifiable Losses pursuant to <U>Section&nbsp;13.03(b)</U> and Life Specified Damages <I>plus</I> (II) if the aggregate
amount of indemnifiable Losses pursuant to <U>Section&nbsp;13.03(e)</U> exceeds the Specified Deductible, the aggregate amount of indemnifiable Losses pursuant to <U>Section&nbsp;13.03(e)</U> (inclusive of the Specified Deductible) <I>plus</I> (III)
the aggregate amount of Specified Damages (as defined in the Reinsurer Transition Services </P>
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Agreement) under Section&nbsp;9.3 of the Reinsurer Transition Services Agreement. The aggregate amount of all Losses for which Sellers, on a several and not joint basis, shall be liable pursuant
to <U>Section&nbsp;13.03(b)</U> and <U>Section&nbsp;13.03(e)</U> shall not exceed fifty-five million dollars ($55,000,000) (the &#147;<U>Life Cap</U>&#148;). The aggregate amount of all Losses for which Sellers, on a several and not joint basis,
shall be liable pursuant to&nbsp;Section&nbsp;13.03 (other than <U>Section&nbsp;13.03(d)</U>) and <U>Section&nbsp;10.01(b)(ii)</U> and for Life Specified Damages shall not exceed the Aggregate Ceding Commission<I>.</I> </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(c) Purchaser shall not be liable to any Sellers Indemnified Party for indemnification under <U>Section&nbsp;13.04(b)</U>, (i)&nbsp;for any
individual or series of related indemnifiable Losses which do not exceed the Deminimis Amount (which Losses shall not be counted towards the Group Deductible) and (ii)&nbsp;until the aggregate amount of indemnifiable Losses pursuant to
<U>Section&nbsp;13.04(b)</U> exceeds the Group Deductible, in which event Purchaser shall only be required to pay or be liable for Losses pursuant to <U>Section&nbsp;13.04(b)</U> in excess of the Group Deductible. The aggregate amount of all Losses
for which Purchaser shall be liable pursuant to <U>Section&nbsp;13.04(b) </U>shall not exceed the Group Cap. The aggregate amount of all Losses for which Purchaser shall be liable pursuant to <U>Section&nbsp;13.04</U> (other than
<U>Section&nbsp;13.04(d)</U>)&nbsp;shall not exceed an amount equal to the Purchase Price less the Aggregate Ceding Commission. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(d)
Reinsurer shall not be liable to any Sellers Indemnified Party for indemnification under <U>Section&nbsp;13.05(b)</U> (i)&nbsp;for any individual or series of related indemnifiable Losses which do not exceed the Deminimis Amount and (ii)&nbsp;until
the aggregate amount of indemnifiable Losses pursuant to <U>Section&nbsp;13.05(b)</U> exceeds the Life Deductible, in which event Reinsurer shall only be required to pay or be liable for Losses pursuant to <U>Section&nbsp;13.05(b)</U> in excess of
the Life Deductible. The aggregate amount of all Losses for which Reinsurer shall be liable pursuant to <U>Section&nbsp;13.05(b)</U> shall not exceed the Life Cap. The aggregate amount of all Losses for which Reinsurer shall be liable pursuant to
<U>Section&nbsp;13.05</U> (other than <U>Section&nbsp;13.05(d)</U>) shall not exceed the Aggregate Ceding Commission. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(e) Purchaser shall
not be liable to any Reinsurer Indemnified Party for indemnification under <U>Section&nbsp;13.06(b)</U> (i)&nbsp;for any individual or series of related indemnifiable Losses which do not exceed fifty thousand dollars ($50,000) (which Losses shall
not be counted towards the Counterparties Deductible) and (ii)&nbsp;until the aggregate amount of indemnifiable Losses pursuant to <U>Section&nbsp;13.06(b)</U> exceeds five million dollars ($5,000,000) (the &#147;<U>Counterparties
Deductible</U>&#148;), in which event Purchaser shall only be required to pay or be liable for Losses pursuant to <U>Section&nbsp;13.06(b)</U> in excess of the Counterparties Deductible. The aggregate amount of all Losses for which Purchaser shall
be liable pursuant to <U>Section&nbsp;13.06(b)</U> shall not exceed fifty five million dollars ($55,000,000). The aggregate amount of all Losses for which Purchaser shall be liable pursuant to <U>Section&nbsp;13.06</U> shall not exceed the Aggregate
Ceding Commission. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(f) Reinsurer shall not be liable to any Purchaser Indemnified Party for indemnification under
<U>Section&nbsp;13.07(b)</U> (i)&nbsp;for any individual or series of related indemnifiable Losses which do not exceed fifty thousand dollars ($50,000) (which Losses shall not be counted towards the Counterparties Deductible) and (ii)&nbsp;until the
aggregate amount of indemnifiable Losses pursuant to <U>Section&nbsp;13.07(b)</U> exceeds the Counterparties Deductible, in which event Reinsurer shall only be required to pay or be liable for Losses pursuant to <U>Section&nbsp;13.07(b)</U> in
</P>
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excess of the Counterparties Deductible. The aggregate amount of all Losses for which Reinsurer shall be liable pursuant to <U>Section&nbsp;13.07(b)</U> shall not exceed fifty five million
dollars ($55,000,000). The aggregate amount of all Losses for which Reinsurer shall be liable pursuant to <U>Section&nbsp;13.07</U>&nbsp;shall not exceed the Aggregate Ceding Commission. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(g) The amount of any Losses sustained by an Indemnified Party shall be reduced (i)&nbsp;by any amount received by such Indemnified Party or
its Affiliates with respect to and to the extent arising with respect to the same Loss under any insurance or reinsurance coverage (including, in the case of a Purchaser Indemnified Party pursuant to the Reinsurance Agreement) relating thereto or
(ii)&nbsp;by any amount received by such Indemnified Party or its Affiliates with respect thereto from any non-Affiliated Person alleged to be responsible for any Losses (<U>provided</U> that, for the avoidance of doubt, the foregoing shall not
reduce the aggregate amount of a Loss recoverable by the Purchaser Indemnified Parties and the Reinsurer Indemnified Parties, collectively, under this Agreement, nor permit duplicative recovery by Purchaser Indemnified Parties and Reinsurer
Indemnified Parties for the same Loss), in each of (i)&nbsp;and (ii)&nbsp;(x) net of any deductible, retention, costs or other expenses actually incurred by the Indemnified Party in connection therewith and (y)&nbsp;only to the extent that the
Indemnified Party would otherwise retain an amount greater than the full amount of the Losses sustained by the Indemnified Party as a result of the underlying claim. The Indemnified Parties shall use commercially reasonable efforts to collect any
amounts available under insurance policies or recoverable from non-Affiliated Persons with respect to Losses incurred by such Indemnified Party. If an Indemnified Party or any of its Affiliates receives any amounts under insurance policies, or from
any non-Affiliated Person alleged to be responsible for any Losses, in each case in connection with a matter giving rise to an indemnification payment, but subsequent to such indemnification payment by the Indemnifying Party, then such Indemnified
Party shall promptly reimburse the Indemnifying Party for any payment made or out-of-pocket expense incurred by such Indemnifying Party in connection with providing such indemnification payment up to the amount received by the Indemnified Party or
its Affiliates, in each case (I)&nbsp;net of any deductible, retention, costs or other expenses actually incurred by the Indemnified Party in connection therewith and (II)&nbsp;only to the extent that the Indemnified Party would otherwise retain an
amount greater than the full amount of the Losses sustained by the Indemnified Party as a result of the underlying claim. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(h) An
Indemnified Party shall use commercially reasonable efforts to mitigate the amount of Losses upon and after becoming aware of any facts or circumstances that would reasonably be expected to result in any Losses that are indemnifiable hereunder in
which event such costs incurred by an Indemnified Party pursuant to this <U>Section&nbsp;13.08(h)</U> in connection with the mitigation of an indemnifiable Loss shall constitute &#147;<U>Losses</U>&#148; for purposes of this
<U>Article&nbsp;XIII</U>. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(i) Any liability for indemnification to an Indemnified Party under this Agreement shall be determined without
duplication of recovery by such Indemnified Party by reason of the state of facts giving rise to such liability constituting a breach of more than one representation, warranty, covenant or agreement hereunder. In no event shall Sellers be liable to
an Indemnified Party or more than one Indemnified Party in respect of the same portion of any Loss as measured from the perspective of the Company disregarding the transactions contemplated hereby; <U>provided</U>, <U>however</U>, that the foregoing
shall not be deemed to prohibit more than one Indemnified Party from recovering different portions of the same Loss (for the avoidance of doubt, the </P>
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different portions of the same Loss recoverable by the Indemnified Parties shall in no event exceed one hundred percent (100%)&nbsp;of the Loss). For the avoidance of doubt, (x)&nbsp;except with
respect to indemnification pursuant to <U>Article&nbsp;X</U>, no party shall be entitled to claim indemnification with respect to the same Loss more than once and (y)&nbsp;no party shall be entitled to claim indemnification pursuant to
<U>Article&nbsp;X</U> with respect to the same Tax liability more than once. Notwithstanding anything to the contrary contained in this Agreement, (i)&nbsp;no Purchaser Indemnified Party shall be entitled to indemnification with respect to any
particular Loss to the extent the related liability or obligation is specifically reflected on, provided for or reserved against on the Final Balance Sheet and (ii)&nbsp;no Reinsurer Indemnified Party shall be entitled to indemnification with
respect to any particular Loss to the extent the related liability or obligation is specifically reflected on, provided for or reserved against in the Final Statement of Net Settlement on the basis provided for in the Statement of Net Settlement
Methods. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(j) The rights and remedies of any party in respect of any inaccuracy or breach of any representation, warranty, covenant or
agreement shall in no way be limited by the fact that the act, omission, occurrence or other state of facts or circumstances upon which any claim of any such inaccuracy or breach is based may also be the subject matter of any other representation,
warranty, covenant or agreement as to which there is no inaccuracy or breach. The representations, warranties and covenants of the parties, and the Indemnified Parties&#146; rights to indemnification with respect thereto, shall not be affected or
deemed waived by reason of (and the Indemnified Parties shall be deemed to have relied upon the representations and warranties of any other party set forth herein notwithstanding) (i)&nbsp;any investigation made by or on behalf of such Indemnified
Party or any of its Representatives or by reason of the fact that any of the Indemnified Parties or any of such Representatives knew or should have known that any such representation or warranty is, was or might be inaccurate, regardless of whether
such investigation was made or such knowledge was obtained before or after the execution and delivery of this Agreement or (ii)&nbsp;the waiver of any condition by such Indemnified Party or any of its Affiliates set forth in <U>Article&nbsp;XI</U>.
</P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(k) In determining the amount of any payment necessary to indemnify any party hereto against, or reimburse any party for, Losses or Taxes
pursuant to <U>Article&nbsp;X</U> or this <U>Article&nbsp;XIII</U>, the amount of such Losses or Taxes shall be determined (i)&nbsp;net of any Tax benefit actually realized in cash (or through the reduction of Taxes otherwise payable) by the
Indemnified Party (or any Affiliate thereof) in the taxable year in which such Loss or Tax is paid or accrued, as the result of sustaining or paying such Losses or Taxes (including as a result of facts or circumstances due to which the Indemnified
Party sustained or paid such Losses or Taxes) and (ii)&nbsp;gross of the amount of any Taxes (on a grossed-up basis) or out-of-pocket expenses incurred by the Indemnified Party arising from the receipt or accrual of any such reduction in Tax
liability or indemnification payment (<U>provided</U> that for the avoidance of doubt, nothing in this <U>Section&nbsp;13.08(k)</U> shall affect the parties&#146; agreement in <U>Section&nbsp;10.09</U> regarding the Tax treatment of payments). The
calculation described in the previous sentence shall be made by comparing (x)&nbsp;the Taxes payable by such Person in respect of such taxable year without giving effect to any deductions for the payment or accrual of the Loss or Tax giving rise to
the relevant indemnification payment and (y)&nbsp;the Taxes payable by such Person in respect of such taxable year giving effect to such deduction allowed as a result of such payment or accrual of such Loss or Tax and gross of any Taxes and
out-of-pocket expenses incurred by such Indemnified Party in connection with obtaining, receiving, or accruing such reduction in Tax liability or the related </P>
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indemnification payment; <U>provided</U>, <U>however</U>, that nothing in this <U>Section&nbsp;13.08(k)</U> shall be interpreted to require a party or any of its respective Affiliates to show or
provide all or a portion of its consolidated U.S. federal income Tax Return to any other party or its respective Affiliates. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Section&nbsp;13.09 <U>Indemnification Procedures</U>. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(a) No Person that may be entitled to be indemnified under this Agreement (the &#147;<U>Indemnified Party</U>&#148;) shall be entitled to
indemnification against any Losses unless it has given to the party from whom indemnification is sought (the &#147;<U>Indemnifying Party</U>&#148;) a written claim notice relating to such Losses (a &#147;<U>Claim Notice</U>&#148;). The Claim Notice
shall be given reasonably promptly after the Indemnified Party becomes aware of the facts indicating that a claim for indemnification may be warranted and shall state in reasonable detail, to the extent reasonably available at such time, the nature
of the claim, identify the sections of this Agreement which form the basis for such claim, attach copies of all material written evidence thereof received from a third party to the date of such notice and set forth the estimated amount of the Losses
that have been or may be sustained by an Indemnified Party relating to such claim to the extent reasonably estimable. The failure of an Indemnified Party to give a Claim Notice shall not relieve the Indemnifying Party of its obligations under this
<U>Article&nbsp;XIII</U>, except to the extent that the Indemnifying Party is prejudiced by such failure to give a Claim Notice. The Indemnifying Party shall have no Liability with respect to any unreasonable expenses incurred by the Indemnifying
Party prior to the time the Claim Notice is received by the Indemnifying Party. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(b) If a Claim Notice relates to a claim, action, suit,
proceeding or demand asserted by a non-Affiliated Person (or a successor thereof) (a &#147;<U>Third Party Claim</U>&#148;), the Indemnifying Party may, through counsel of its own choosing (<U>provided</U> that in the event of any Third Party Claim
asserted by any Governmental Authority, such counsel shall be reasonably acceptable to the Indemnified Party), assume the defense and investigation of such Third Party Claim; <U>provided</U> that any Indemnified Party shall be entitled to
participate in any such defense with counsel of its own choice at its own expense.&nbsp;The Indemnified Party shall have the right to employ one (1)&nbsp;separate counsel in any such Third Party Claim and to participate (but not control) in the
defense thereof, but the fees and expenses of such counsel shall not be the expense of the Indemnifying Party unless (i)&nbsp;the employment of such counsel has been specifically authorized in writing by the Indemnifying Party, (ii)&nbsp;in the
reasonable opinion of counsel to the Indemnified Party, a conflict or potential conflict exists between the Indemnified Party and the Indemnifying Party that would make such separate representation advisable or (iii)&nbsp;one or more defenses are
available to the Indemnified Party that are not available to the Indemnifying Party.&nbsp;Notwithstanding the foregoing, in the event of a Third Party Claim (x)&nbsp;for non-monetary remedies asserted by any Governmental Authority that the
Indemnified Party reasonably believes, if adversely determined, would reasonably be expected to be materially adverse to the Indemnified Party, or (y)&nbsp;for monetary damages where the amount in controversy as claimed by a Governmental Authority
exceeds two hundred percent (200%)&nbsp;of the remaining amount potentially recoverable by the Indemnified Party from the Indemnifying Party after giving effect to the limits on indemnification in <U>Section&nbsp;13.08</U> and all other outstanding
claims for indemnification, the Indemnified Party shall have the right to control the defense and investigation of such Third Party Claim upon written notice to the Indemnifying Party; <U>provided</U> that (A)&nbsp;counsel employed by the
Indemnified Party shall be reasonably acceptable to the Indemnifying Party, (B)&nbsp;the fees and expenses of such counsel shall be borne by the </P>
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Indemnifying Party (<U>provided</U> that such fees and expenses shall be limited to commercially reasonable fees and expenses, and it being understood that the Indemnified Party shall not at any
time employ more than one (1)&nbsp;primary counsel, more than one (1)&nbsp;local counsel in any jurisdiction and more than one (1)&nbsp;specialty counsel in any subject matter in connection with such Third Party Claim), (C)&nbsp;the Indemnified
Party shall not, without the prior written consent of the Indemnifying Party (which consent shall not be unreasonably withheld, conditioned or delayed), settle or compromise any such Third Party Claim or consent to the entry of any judgment, except
to the extent the sole relief granted (I)&nbsp;does not involve any finding or admission of any violation of Law or admission of any wrongdoing by or on behalf of the Indemnifying Party or its Affiliates or any violation of the rights of any Person
by or on behalf of the Indemnifying Party or its Affiliates and does not include a statement or admission of fault, culpability or failure to act by or on behalf of any Indemnifying Party or its Affiliates, and (II) does not subject an Indemnifying
Party or its Affiliates to any injunctive relief or other equitable remedy and does not encumber any of the assets of any Indemnifying Party or its Affiliates or result in any restriction or condition that would apply to and adversely affect any
Indemnifying Party or its Affiliates or the conduct of any Indemnifying Party&#146;s or its Affiliates&#146; respective businesses and (D)&nbsp;the Indemnifying Party shall have the right to employ one (1)&nbsp;separate counsel in any such Third
Party Claim and to participate (but not control) in the defense thereof. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(c) If the Indemnifying Party elects to assume the defense and
investigation of such Third Party Claim, it shall, no later than thirty (30)&nbsp;days following its receipt of the Claim Notice notify the Indemnified Party in writing of its assumption of the defense and investigation of such Third Party Claim.
The Indemnifying Party shall not, without the prior written consent of the Indemnified Party (which consent shall not be unreasonably withheld, conditioned or delayed), settle or compromise any pending or threatened Third Party Claim in respect of
which indemnification may be sought hereunder (whether or not the Indemnified Party is an actual or potential party to such action or claim) or consent to the entry of any judgment, except to the extent (i)&nbsp;it includes as an unconditional term
thereof the delivery by the claimant or plaintiff to the Indemnified Party of a written release from all Liability in respect of such Third Party Claim and (ii)&nbsp;any such action or claim is limited solely to monetary damages against the
Indemnified Party that are recoverable in full by the Indemnified Party from the Indemnifying Party after giving effect to the limits on indemnification in <U>Section&nbsp;13.08</U> and all other outstanding claims for indemnification (other than
any monetary damages that are not recoverable by virtue of the application of the Group Deductible or Life Deductible, as applicable). </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(d)
If the Indemnifying Party does not notify the Indemnified Party within thirty (30)&nbsp;days following its receipt of the Claim Notice that it desires to assume the defense and investigation of such Third Party Claim, then the Indemnifying Party
shall have the right to participate in any such defense at its sole cost and expense. The Indemnified Party shall not, without the prior written consent of the Indemnifying Party (which consent shall not be unreasonably withheld, conditioned or
delayed), settle or compromise any pending or threatened Third Party Claim or consent to the entry of any judgment, except to the extent the sole relief granted is equitable relief for which the Indemnifying Party would have no Liability or to which
the Indemnifying Party would not be subject. </P>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><I></I>(e) The Indemnified Party and the Indemnifying Party shall make reasonably available to
each other and their respective Representatives all relevant business records and other documents available to them that are necessary or appropriate for the defense of any Third Party Claim, subject to any <I>bona fide</I> claims of attorney-client
privilege, and each of the Indemnifying Party and the Indemnified Party shall use its reasonable efforts to assist, and to cause the employees and counsel of such party to assist, in the defense of such Third Party Claim.<I> </I></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Section&nbsp;13.10 <U>Policy Tax Claims</U>. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(a) At any time prior to the fifth (5th)&nbsp;anniversary of the Closing Date, the Purchaser Indemnified Parties may bring a claim pursuant to
<U>Section&nbsp;10.01(a)(vi)</U> that relates to a breach of a representation or warranty under <U>Section&nbsp;4.19</U>, and the Reinsurer Indemnified Parties may bring a claim pursuant to <U>Section&nbsp;10.01(b)(ii)</U> that relates to a breach
of a representation or warranty under <U>Section&nbsp;5.16</U>, in each case even if no related Third Party Claim has first been asserted or made against the applicable Indemnified Party with respect thereto; <U>provided</U>, <U>however</U>, that
any such claim with respect to which no Third Party Claim has previously been asserted (a &#147;<U>Direct Product Tax Claim</U>&#148;) must be based on the reasonable and good faith determination by the applicable Indemnified Party that a breach of
a representation or warranty under <U>Section&nbsp;4.19</U> or <U>Section&nbsp;5.16</U>, as applicable, has occurred. In the event that, prior to the fifth (5th)&nbsp;anniversary of the Closing Date, any Purchaser Indemnified Party or Reinsurer
Indemnified Party becomes aware of any circumstance that could result in a Tax or Loss that would arise out of a breach of a representation or warranty set forth in <U>Section&nbsp;4.19</U> or <U>Section&nbsp;5.16</U>, as applicable, such
Indemnified Party shall deliver to Sellers a notice describing such circumstance with reasonable specificity, such breach of a representation or warranty under <U>Section&nbsp;4.19</U> or <U>Section&nbsp;5.16</U>, as applicable, and the nature of
the potential Tax or Loss. Notwithstanding anything to the contrary in this Agreement, (i)&nbsp;prior to the termination of the five (5)&nbsp;year survival period pursuant to <U>Section&nbsp;13.01(e)</U>, Sellers shall only be required to indemnify
the applicable Indemnified Parties under <U>Section&nbsp;10.01(a)(vi)</U> or <U>Section&nbsp;10.01(b)(ii)</U> for Losses or Taxes pursuant to a Direct Product Tax Claim arising out of any breach of the representations and warranties made in
<U>Section&nbsp;4.19</U> or <U>Section&nbsp;5.16</U>, as applicable, to the extent that such Losses or Taxes arise out of a circumstance identified in a notice delivered on or prior to the third (3rd)&nbsp;anniversary of the Closing Date in
accordance with the previous sentence (substituting &#147;third (3rd)&nbsp;anniversary&#148; for &#147;fifth (5th)&nbsp;anniversary&#148;) and (ii)&nbsp;in no event shall Sellers be required to indemnify the applicable Indemnified Parties under
<U>Section&nbsp;10.01(a)(vi)</U> or <U>Section&nbsp;10.01(b)(ii)</U> for Losses or Taxes arising out of any breach of the representations and warranties made in <U>Section&nbsp;4.19</U> or <U>Section&nbsp;5.16</U> in accordance with the terms
hereof, as applicable, pursuant to a Direct Product Tax Claim or Third Party Claim arising after the five (5)&nbsp;year anniversary of the Closing Date (it being understood that if a Direct Product Tax Claim or Third Party Claim is brought on or
prior to the five (5)&nbsp;year anniversary of the Closing Date with respect to a breach of a representation or warranty under <U>Section&nbsp;4.19</U> or <U>Section&nbsp;5.16</U> in accordance with the terms hereof, the representations and
warranties that are the subject of such Direct Product Tax Claim or Third Party Claim shall survive with respect to such Direct Product Tax Claim or Third Party Claim solely for purposes of its resolution in accordance with the terms hereof,
including during the pendency of any request for ruling or closing agreement as contemplated by this <U>Section&nbsp;13.10</U>). For the avoidance of doubt, nothing in this <U>Section&nbsp;13.10</U> shall, unless specifically provided herein, limit
or otherwise restrict the right of any Purchaser Indemnified Party or Reinsurer Indemnified Party to be indemnified under <U>Article&nbsp;X</U> for Taxes or Losses described therein (including, for the avoidance of doubt, Taxes or Losses incurred
with respect to a Third Party Claim). </P>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(b) If any Purchaser Indemnified Party or Reinsurer Indemnified Party brings a Direct Product Tax
Claim, Sellers and the applicable Indemnified Party shall cooperate in good faith to determine whether any breach of a representation or warranty under <U>Section&nbsp;4.19</U> or <U>Section&nbsp;5.16</U>, as applicable, has occurred. If, with
respect to a Direct Product Tax Claim, Sellers and the applicable Indemnified Party cannot agree as to whether a breach of a representation or warranty under <U>Section&nbsp;4.19</U> or <U>Section&nbsp;5.16</U>, as applicable, has occurred, then
such disagreement shall be resolved by a recognized law firm, accounting firm or actuarial firm mutually agreeable to the applicable Indemnified Party and Sellers, and any such determination by such law firm, accounting firm, or actuarial firm shall
be final. Such law firm, accounting firm or actuarial firm shall render a determination within sixty (60)&nbsp;days of the referral of such matter for resolution (&#147;<U>Direct Product Tax Claim Determination</U>&#148;). If the Direct Product Tax
Claim Determination is that a breach has occurred, (A)&nbsp;Sellers shall (x)&nbsp;be entitled to promptly (and in any event within thirty (30)&nbsp;Business Days) notify the applicable Indemnified Party that they intend to seek, and then to
promptly use reasonable best efforts to seek and obtain, a ruling or closing agreement from the applicable Taxing Authority with respect to such Direct Product Tax Claim and shall only be required to indemnify the applicable Indemnified Party
following receipt of, and then only to the extent of the Liability under, such ruling or closing agreement, and (y)&nbsp;if Sellers decline in their sole discretion to seek such a ruling or closing agreement, or withdraw or fail to promptly use
reasonable best efforts to pursue their request for such ruling or closing agreement, Sellers shall indemnify the applicable Indemnified Party with respect to such Direct Product Tax Claim and (B)&nbsp;Sellers and the applicable Indemnified Party
shall cooperate, if necessary, to develop corrective measures with respect to such Direct Product Tax Claim that are reasonable, practical, cost effective and efficacious, taking into account all of the relevant facts and circumstances then
applicable. In the event Sellers have an obligation hereunder to indemnify an Indemnified Party with respect to a Direct Product Tax Claim and Sellers and such Indemnified Party cannot agree with respect to the appropriate reasonable, practical,
cost-effective and efficacious corrective measures, then such disagreement with respect to the appropriate corrective measures shall be resolved by a recognized law firm, accounting firm or actuarial firm mutually agreeable to the applicable
Indemnified Party and Sellers, and any such determination by such law firm, accounting firm, or actuarial firm shall be final. Such law firm, accounting firm or actuarial firm shall render a determination within sixty (60)&nbsp;days of the referral
of such matter for resolution. The cost of engaging a law firm, accounting firm or actuarial firm pursuant to this <U>Section&nbsp;13.10</U> shall be borne fifty percent (50%)&nbsp;by Sellers and fifty percent (50%)&nbsp;by the applicable
Indemnified Party. Sellers shall not be required seek a ruling or closing agreement, indemnify the applicable Indemnified Party or participate in the development of any corrective measures with respect to any Direct Product Tax Claim for which the
Direct Product Tax Claim Determination is that no breach has occurred unless and until a Third Party Claim with respect thereto subsequently arises. The Purchaser Indemnified Party or Reinsurer Indemnified Party, as applicable, shall promptly
reimburse Sellers for any amount paid to any Purchaser Indemnified Party or Reinsurer Indemnified Party by Sellers pursuant to this <U>Section&nbsp;13.10(b)</U> with respect to a Direct Product Tax Claim in the event that there is a
&#147;determination&#148; (within the meaning of Section&nbsp;1313(a) of the Code) with respect to the facts underlying such Direct Product Tax Claim that (A)&nbsp;is final and unappealable and (B)&nbsp;conclusively establishes that Sellers did not
breach the representations and warranties on which such Direct Product Tax Claim were based. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">176 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(c) In the event that the corrective measures described in this <U>Section&nbsp;13.10</U> with
respect to any claim for indemnification for breach of any representation or warranty set forth in <U>Section&nbsp;4.19</U> or <U>Section&nbsp;5.16</U> include making any request to the IRS for relief with respect to such failure, the applicable
Indemnified Party and Sellers shall jointly participate in all discussions or other proceedings with the IRS, including attendance at meetings and joint approval of all written submissions. Sellers shall control the decision of whether or not to
enter into a closing agreement or other arrangement with the IRS in connection with such discussions or other proceedings (it being understood that such decision shall not limit or otherwise restrict the right of any Purchaser Indemnified Party or
Reinsurer Indemnified Party to be indemnified under <U>Article&nbsp;X</U> for Taxes or Losses described therein), provided that if (i)&nbsp;the closing agreement or other arrangement involves any admission that would reasonably be expected to form
the basis of the determination of any material future liability of, nonmonetary relief against or commitments by such Indemnified Party or any of its Affiliates, or (ii)&nbsp;following the initiation of such discussions or other proceedings with the
IRS (other than discussions on a no-name basis), any decision not to enter into a closing agreement or other arrangement would reasonably be expected to have a material adverse impact on such Indemnified Party or any of its Affiliates, then Sellers
may not enter into (or fail to enter into, as applicable) any such closing agreement or other arrangement without such Indemnified Party&#146;s prior written consent, which consent shall not be unreasonably withheld, conditioned or delayed. Should
the applicable Indemnified Party decide to withhold its consent to Sellers&#146; entering into (or failing to enter into, as applicable) any closing agreement or other arrangement with the IRS, such Indemnified Party shall promptly communicate such
decision in writing to Sellers. The applicable Indemnified Party shall control the implementation of any corrective measures described in this <U>Section&nbsp;13.10</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Section&nbsp;13.11 <U>Materiality</U>. For purposes of this <U>Article&nbsp;XIII</U>, any breach or inaccuracy of any representation and
warranty (other than the representations and warranties contained in <U>Section&nbsp;4.04</U>, <U>Section&nbsp;4.08(b)</U>, <U>Section&nbsp;5.03</U>, and <U>Section&nbsp;5.07(b)</U>) and the amount of any Losses resulting therefrom shall be
determined without giving effect to any exception or qualification in such representations and warranties relating to &#147;Material Adverse Effect,&#148; &#147;material&#148; or &#147;materiality&#148; in any such representations and warranties.
</P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Section&nbsp;13.12 <U>Exclusive Remedy</U>. Except in the case of actual fraud, and subject to <U>Section&nbsp;12.03</U> and
<U>Section&nbsp;14.10</U>, the parties acknowledge and agree that, from and after the Closing (as to any party), their sole and exclusive remedy with respect to any and all claims under or arising out of this Agreement, including for any breach or
non-fulfillment of any representation, warranty, covenant or agreement in this Agreement, shall be pursuant to the indemnification provisions set forth in this <U>Article&nbsp;XIII</U>, and with respect to Taxes, <U>Article&nbsp;X</U> and the
remedies of injunction and specific performance to the extent available under <U>Section&nbsp;14.10</U>; <U>provided</U>, that, for the avoidance of doubt, in the event Reinsurer does not consummate the transactions contemplated by this Agreement
(including entering into the Reinsurance Agreement), the Closing shall not be deemed to have occurred as respects Reinsurer. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">177 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>ARTICLE&nbsp;XIV </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>MISCELLANEOUS PROVISIONS </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Section&nbsp;14.01 <U>Notices</U>. All notices and other communications under this Agreement shall be in writing and shall be deemed given
(a)&nbsp;when delivered personally by hand (with written confirmation of receipt by other than automatic means, whether electronic or otherwise), (b)&nbsp;when sent by facsimile or email (with written confirmation of transmission) or (c)&nbsp;one
(1)&nbsp;Business Day following the day sent by an internationally recognized overnight courier (with written confirmation of receipt), in each case, at the following addresses, facsimile numbers and email addresses (or to such other address,
facsimile number or email address as a party may have specified by notice given to the other parties pursuant to this provision): </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">to
Sellers or LMGI: </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">Liberty Mutual Insurance Company </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">157 Berkeley Street </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">Boston,
Massachusetts 02116 </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">Attention:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Nik Vasilakos </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">Vice President, Global Head of Mergers&nbsp;&amp; Acquisitions </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">E-mail: &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Nik.Vasilakos@libertymutual.com </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">Facsimile: &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(617)&nbsp;574-5515 </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">Liberty Mutual Fire Insurance Company </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">157 Berkeley Street </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">Boston,
Massachusetts 02116 </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">Attention:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Nik Vasilakos </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">Vice President, Global Head of Mergers&nbsp;&amp; Acquisitions </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">E-mail: &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Nik.Vasilakos@libertymutual.com </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">Facsimile:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (617)&nbsp;574-5515 </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">with copies (which shall not constitute notice to Sellers for the purposes of this <U>Section&nbsp;14.01</U>) to: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">Liberty Mutual Insurance Company </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">157 Berkeley Street </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">Boston,
Massachusetts 02116 </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">Attention:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Richard P. Quinlan </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">Senior Vice President, Deputy General Counsel </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">E-mail:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Richard.Quinlan@libertymutual.com </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">Facsimile:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (617)&nbsp;574-5830 </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">and </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">178 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">Skadden, Arps, Slate, Meagher&nbsp;&amp; Flom LLP </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">Four Times Square </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">New York,
New York 10036 </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">Attention:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Todd E. Freed </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">Email: &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Todd.Freed@Skadden.com </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">Facsimile:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(212)&nbsp;735-2000 </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">to Purchaser or Purchaser Parent: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">The Lincoln National Life Insurance Company </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">150 North Radnor Chester Road </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">Radnor, Pennsylvania 19807 </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">Facsimile:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(484)&nbsp;582-1421 </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">Attention:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Kirkland L. Hicks </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">Email:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Kirkland.Hicks@lfg.com </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">Attention: Executive Vice President and General Counsel </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">with copies (which shall not constitute notice to Purchaser for the purposes of this <U>Section&nbsp;14.01</U>) to: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">Wachtell, Lipton, Rosen&nbsp;&amp; Katz </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">51 West 52nd Street </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">New York,
New York 10019 </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">Facsimile:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(212)&nbsp;403-2000 </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">Email:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;NGDemmo@wlrk.com;
MFVeblen@wlrk.com </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">Attention:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Nicholas G. Demmo; Mark F. Veblen
</P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">and </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">Sidley Austin LLP
</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">One South Dearborn </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">Chicago, Illinois 60603 </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">Facsimile:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(312)&nbsp;853-7036 </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">Email:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;pshwachman@sidley.com;
atodd@sidley.com </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">Attention:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Perry J. Shwachman; Amanda M. Todd
</P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">to Reinsurer or Reinsurer Parent: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">c/o Protective Life Insurance Company </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">2801 Highway 280 South </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">Birmingham, Alabama 35223 </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">Facsimile:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(205)&nbsp;268-1000 </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">Email:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Mark.Drew@protective.com </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">Attention:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;General Counsel </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">179 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">with a copy (which shall not constitute notice to Reinsurer for the purposes of this
<U>Section&nbsp;14.01</U>) to: </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">Willkie Farr&nbsp;&amp; Gallagher LLP </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">787 Seventh Avenue </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">New York,
New York 10019 </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">Facsimile:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (212)&nbsp;728-8111 </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">Email: &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;adye@willkie.com;
rabbassi@willkie.com </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">Attention: &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Alexander M. Dye; Rajab S.
Abbassi </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Section&nbsp;14.02 <U>Entire Agreement</U>. This Agreement, the Ancillary Agreements and the Confidentiality Agreements by and
between LMGI and each of Reinsurer Parent and Purchaser Parent (subject to <U>Section&nbsp;8.02(d)</U>), and any other documents delivered pursuant hereto or thereto, constitute the entire agreement among the parties and their respective Affiliates
with respect to the subject matter hereof and thereof and supersede all prior negotiations, discussions, writings, agreements and understandings, oral and written, between the parties with respect to the subject matter hereof and thereof. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Section&nbsp;14.03 <U>Waivers and Amendment</U>. Any provision of this Agreement may be amended, modified or waived if, and only if, such
amendment, modification or waiver is in writing and signed, in the case of an amendment, by the parties, or in the case of a waiver, by the party against whom the waiver is to be effective. No failure or delay by any party in exercising any right,
power or privilege hereunder shall operate as a waiver thereof nor shall any single or partial exercise thereof preclude any other or further exercise thereof or the exercise of any other right, power or privilege. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Section&nbsp;14.04 <U>Successors and Assigns</U>. Neither this Agreement nor any of the rights, interests or obligations under it may be
directly or indirectly assigned, delegated, sublicensed or transferred by either of the parties, in whole or in part, to any other Person (including any bankruptcy trustee) by operation of law or otherwise, whether voluntarily or involuntarily,
without the prior written consent of the other parties, and any attempted or purported assignment in violation of this <U>Section&nbsp;14.04</U> will be null and void; <U>provided</U> that the parties hereto may assign, by operation of law or
otherwise, their rights, interests and obligations hereunder to (x)&nbsp;an Affiliate or (y)&nbsp;any purchaser of the equity of, or all or substantially all of the assets of, such party; <U>provided</U>, <U>further</U>, that no such assignment
shall, unless otherwise mutually agreed in writing by parties, relieve the assigning party of its obligations hereunder. Subject to the preceding sentence, this Agreement will be binding upon, inure to the benefit of, and be enforceable by the
parties and their respective heirs, executors, administrators, successors, legal representatives and permitted assigns. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Section&nbsp;14.05 <U>No Third Party Beneficiaries</U>. Subject to the rights granted to the Purchaser Indemnified Parties, the Reinsurer
Indemnified Parties, the Sellers Indemnified Parties and, solely for purposes of <U>Section&nbsp;14.16</U>, the Ceding Company (as defined in the COLI Reinsurance Agreement) nothing expressed or implied in this Agreement is intended to confer any
rights, benefits, remedies, obligations or Liabilities upon any Person other than the parties and their respective heirs, executors, administrators, successors, legal representatives and permitted assigns. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">180 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Section&nbsp;14.06 <U>Governing Law and Jurisdiction</U>. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(a) This Agreement, and all claims or causes of action (whether in contract, tort or otherwise) that may be based upon, arise out of or
relating to this Agreement or the negotiation, execution or performance of this Agreement (including any claim or cause of action based upon, arising out of or related to any representation or warranty made in or in connection with this Agreement)
shall be governed by and construed in accordance with the Laws of the State of New York, without respect to its applicable principles of conflicts of laws that might require the application of the laws of another jurisdiction. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(b) Each of the parties hereby irrevocably and unconditionally (i)&nbsp;submits, for itself and its property, to the exclusive jurisdiction and
venue of the federal courts of the United States located in the Southern District of the State of New York or, if such courts do not have jurisdiction, the state courts of the State of New York sitting in the Borough of Manhattan (&#147;<U>New York
Courts</U>&#148;) in any Action arising out of or relating to this Agreement, including the negotiation, execution or performance of this Agreement and agrees that all claims in respect of any such Action shall be heard and determined in the New
York Courts, (ii)&nbsp;waives, to the fullest extent it may legally and effectively do so, any objection which it may now or hereafter have to the laying of venue of any Action arising out of or relating to this Agreement or the negotiation,
execution or performance of this Agreement in the New York Courts, including any objection based on its place of incorporation or domicile, (iii)&nbsp;waives, to the fullest extent permitted by Law, the defense of an inconvenient forum to the
maintenance of such Action in any such court and (iv)&nbsp;agrees that a final judgment in any such Action shall be conclusive and may be enforced in other jurisdictions by suit on the judgment or in any other manner provided by Law. Each of the
parties consents and agrees that service of process, summons, notice or document for any action permitted hereunder may be delivered by registered mail addressed to it at the applicable address set forth in <U>Section&nbsp;14.01</U> or in any other
manner permitted by applicable Law. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Section&nbsp;14.07 <U>WAIVER OF JURY TRIAL</U>. EACH PARTY ACKNOWLEDGES AND AGREES THAT ANY
CONTROVERSY THAT MAY BE BASED UPON, ARISE OUT OF OR RELATED TO THIS AGREEMENT IS LIKELY TO INVOLVE COMPLICATED AND DIFFICULT ISSUES AND, THEREFORE, EACH SUCH PARTY HEREBY IRREVOCABLY AND UNCONDITIONALLY WAIVES ANY RIGHT SUCH PARTY MAY HAVE TO A
TRIAL BY JURY FOR ANY DISPUTE BASED UPON, ARISING OUT OF OR RELATING TO THIS AGREEMENT OR THE BREACH, TERMINATION OR VALIDITY THEREOF OR ANY TRANSACTIONS CONTEMPLATED BY THIS AGREEMENT. EACH PARTY CERTIFIES AND ACKNOWLEDGES THAT (A)&nbsp;NONE OF THE
OTHER PARTIES NOR ANY OF THEIR RESPECTIVE REPRESENTATIVES, AGENTS OR ATTORNEYS HAS REPRESENTED, EXPRESSLY OR OTHERWISE, THAT IT WOULD NOT, IN THE EVENT OF LITIGATION, SEEK TO ENFORCE THE FOREGOING WAIVER, (B)&nbsp;EACH PARTY UNDERSTANDS AND HAS
CONSIDERED THE IMPLICATIONS OF THIS WAIVER, (C)&nbsp;EACH PARTY MAKES THIS WAIVER VOLUNTARILY AND (D)&nbsp;EACH PARTY HAS BEEN INDUCED TO ENTER INTO THIS AGREEMENT BY, AMONG OTHER THINGS, THE MUTUAL WAIVERS AND CERTIFICATIONS OF THIS
<U>SECTION&nbsp;14.07</U>. ANY PARTY MAY FILE AN ORIGINAL COUNTERPART OR A COPY OF THIS AGREEMENT WITH ANY COURT AS WRITTEN EVIDENCE OF THE CONSENT OF THE PARTIES TO THE WAIVER OF THEIR RIGHT TO TRIAL BY JURY. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">181 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Section&nbsp;14.08 <U>Counterparts</U>. This Agreement may be executed in one or more
counterparts, each of which will be deemed to constitute an original, but all of which shall constitute one and the same agreement, and may be delivered by facsimile or other electronic means intended to preserve the original graphic or pictorial
appearance of a document. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Section&nbsp;14.09 <U>Severability</U>. The provisions of this Agreement shall be deemed severable and the
invalidity or unenforceability of any provision shall not affect the validity or enforceability of the other provisions hereof. If any provision of this Agreement, or the application thereof to any Person or any circumstance, is found by a court or
other Governmental Authority of competent jurisdiction to be invalid or unenforceable, the remainder of this Agreement and the application of such provision to other Persons or circumstances shall not be affected by such invalidity or
unenforceability. If any provision of this Agreement is so broad as to be unenforceable, the provision shall be interpreted to be only so broad as would be enforceable. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Section&nbsp;14.10 <U>Specific Performance</U>. The parties agree that irreparable damage would occur and that the parties would not have any
adequate remedy at law in the event that any provision of this Agreement were not performed in accordance with its specific terms or were otherwise breached and that money damages or other legal remedies would not be an adequate remedy for any such
failure to perform or breach. It is accordingly agreed that, without posting bond or other undertaking, the parties shall be entitled to injunctive or other equitable relief to prevent breaches of this Agreement and to enforce specifically the terms
and provisions of this Agreement in any court of competent jurisdiction, this being in addition to any other remedy to which they are entitled at law or in equity. In the event that any such action is brought in equity to enforce the provisions of
this Agreement, no party will allege, and each party hereby waives the defense or counterclaim, that there is an adequate remedy at law. The parties further agree that (a)&nbsp;by seeking any remedy provided for in this <U>Section&nbsp;14.10</U>, a
party shall not in any respect waive its right to seek any other form of relief that may be available to such party under this Agreement and (b)&nbsp;nothing contained in this <U>Section&nbsp;14.10</U> shall require any party to institute any action
for (or limit such party&#146;s right to institute any action for) specific performance under this <U>Section&nbsp;14.10</U> before exercising any other right under this Agreement. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Section&nbsp;14.11 <U>Publicity</U>. Any press release or press releases with respect to the announcement of the transactions contemplated by
this Agreement and the Ancillary Agreements shall be in a form mutually agreed by the parties. Thereafter, until the Closing, no public release or announcement concerning such transactions shall be issued by any party or its Affiliates without the
prior consent of the other parties (which consent shall not be unreasonably withheld, conditioned or delayed), except as such release or announcement may be required by applicable Law or the rules or regulations of any securities exchange, in which
case the party required to make the release or announcement shall, to the extent practicable, allow the other parties reasonable time to reasonably review and comment on such release or announcement in advance of such issuance; <U>provided</U>,
<U>however</U>, that each of the parties may make (a)&nbsp;internal announcements to their respective employees that are not inconsistent with the parties&#146; prior public disclosure regarding the transaction, (b)&nbsp;announcements to the
investment community and communications with its agents or rating agencies, in each case that are not inconsistent with the parties&#146; prior public disclosures regarding the transaction, (c)&nbsp;such other public communications to the extent
reasonably necessary in order perform its obligations and to enforce its rights and remedies under this Agreement or the Ancillary Agreements, or (d)&nbsp;as may be required by Law, Order or applicable stock exchange. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">182 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Section&nbsp;14.12 <U>No Other Representations and Warranties; Due Investigation</U>. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(a) Except for the representations and warranties contained in <U>Article&nbsp;III</U>, <U>Article&nbsp;IV</U> and <U>Article&nbsp;V</U>, none
of Sellers or their Affiliates, nor any of their respective Representatives, makes or has made, any other express or implied representation or warranty on behalf of Sellers. None of Purchaser or its Affiliates, nor any of its or their respective
Representatives relies or has relied upon, and Purchaser expressly disclaims, and shall cause its Affiliates and any of its or their respective Representatives to expressly disclaim any reliance on, any representation or warranty on behalf of
Sellers other than the representations and warranties in <U>Article&nbsp;III</U> and <U>Article&nbsp;IV</U>. None of Reinsurer or its Affiliates, nor any of its or their respective Representatives relies or has relied upon, and Reinsurer expressly
disclaims, and shall cause its Affiliates and any of its or their respective Representatives to expressly disclaim any reliance on, any representation or warranty on behalf of Sellers other than the representations and warranties in
<U>Article&nbsp;III</U> and <U>Article&nbsp;V</U>. Notwithstanding anything to the contrary contained in this Agreement or the Ancillary Agreements, no representation or warranty has been made or is being made to Reinsurer or any of its Affiliates
or Representatives with respect to any business operations of Sellers or any of their Affiliates other than the business operations relating to the Life Business. Notwithstanding anything to the contrary contained in this Agreement or the Ancillary
Agreements, except as set forth in <U>Article&nbsp;III</U>, <U>Article&nbsp;IV</U> and <U>Article&nbsp;V</U>, no representation or warranty has been made or is being made to Purchaser, Reinsurer or any of their respective Affiliates or
Representatives (i)&nbsp;as to the accuracy or completeness of any of information (including any projections, estimates or other forward-looking information (financial or otherwise)) provided (including set forth in the Electronic Data Room, or
provided in any management presentations, information memoranda, supplemental information or other materials) or otherwise furnished or made available by or on behalf of Sellers at any time prior to the Closing or (ii)&nbsp;as to the accuracy of
fact or opinions recited in the documents and papers which are provided to Purchaser or Reinsurer. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(b) Except for the representations and
warranties contained in <U>Article&nbsp;VI</U>, neither Purchaser nor its Affiliates, nor any of its or their respective Representatives, makes or has made, and none of Sellers or Reinsurer or its or their respective Affiliates, nor any of its or
their respective Representatives relies or has relied upon, any other representation or warranty on behalf of Purchaser. Purchaser expressly disclaims, and Sellers and Reinsurer expressly disclaim, any reliance on, and shall cause their respective
Affiliates, and any of their, or their respective Affiliates&#146; respective, Representatives to expressly disclaim any reliance on, any and all representations and warranties, whether express or implied, other than those contained in
<U>Article&nbsp;VI</U>. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(c) Except for the representations and warranties contained in <U>Article&nbsp;VII</U>, neither Reinsurer nor its
Affiliates, nor any of its or their respective Representatives, makes or has made, and none of Sellers or Purchaser or their respective Affiliates, nor any of their, or their respective Affiliates&#146;, Representatives relies or has relied upon,
any other representation or warranty on behalf of Reinsurer. Reinsurer expressly disclaims, and Sellers and Purchaser expressly disclaim, any reliance on, and shall cause their respective Affiliates, and any of their, or their respective
Affiliates&#146; respective, Representatives to expressly disclaim any reliance on, any and all representations and warranties, whether express or implied, other than those contained in <U>Article&nbsp;VII</U>. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">183 </P>


<p Style='page-break-before:always'>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(d) Purchaser and Reinsurer have each conducted their own respective independent reviews and
analyses of the business, operations, technology, assets, Liabilities, results of operations, financial condition and prospects, in the case of Purchaser, of the Transferred Businesses and the Transferred Companies, and in the case of Reinsurer, of
the Life Business, and each acknowledges and agrees that Sellers have provided each of Purchaser and Reinsurer with access to the personnel, properties, premises and Books and Records related thereto for this purpose. In entering into this Agreement
and the Ancillary Agreements, Purchaser and Reinsurer have relied solely upon their own respective investigations and analyses and the representations and warranties expressly set forth in <U>Article&nbsp;III</U>, <U>Article&nbsp;IV</U> and
<U>Article&nbsp;V</U>. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(e) Notwithstanding anything to the contrary contained in this Agreement, any Ancillary Agreement or any other
agreement, document or instrument delivered or to be delivered in connection herewith or therewith, Purchaser and Reinsurer each acknowledge and agree that (i)&nbsp;it has had an opportunity to ask questions to Sellers relating to the Transferred
Companies, the Transferred Businesses and Life Business, as applicable, and receive responses to such questions from Sellers and (ii)&nbsp;Sellers make no representations or warranties with respect to, and nothing contained in this Agreement or in
any other agreement, document or instrument to be delivered in connection herewith or therewith is intended or shall be construed to be a representation or warranty, express or implied, of Sellers, for any purposes under this Agreement or any other
agreement, document or instrument to be delivered in connection herewith or therewith, in respect of (A)&nbsp;the adequacy or sufficiency of reserves, (B)&nbsp;the effect of the adequacy or sufficiency of reserves on any line item, asset, Liability
or equity amount on any financial or other document, (C)&nbsp;whether or not reserves were determined in accordance with any actuarial, statutory, regulatory or other standard (except to the extent provided by <U>Section&nbsp;4.04(a)</U>,
<U>Section&nbsp;4.04(b)</U>, <U>Section&nbsp;5.03(a)</U>, <U>Section&nbsp;5.03(b)</U> or <U>Section&nbsp;5.03(c)</U> or, with respect to a Statement of Net Settlement, the Statement of Net Settlement Methods) or (D)&nbsp;the collectability of any
amounts under any ceded Reinsurance Contract (except as any such uncollectability results from facts or circumstances giving rise to a breach of <U>Section&nbsp;4.17</U> or <U>Section&nbsp;5.15</U>). </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Section&nbsp;14.13 <U>Expenses</U>. Except as otherwise provided in this Agreement, regardless of whether any or all of the transactions
contemplated by this Agreement are consummated, and except as otherwise expressly provided herein, each party shall bear its and its Affiliates&#146; respective direct and indirect fees, costs and expenses incurred in connection with the negotiation
and preparation of this Agreement and the Ancillary Agreement and the consummation of the transactions contemplated hereby or thereby, including, all such fees, costs and expenses of its and its Affiliates&#146; respective Representatives;
<U>provided</U>, <U>however</U>, except as otherwise expressly set forth herein, Sellers shall bear all out-of-pocket expenses of the Transferred Companies in connection with the negotiation and preparation of this Agreement and the Ancillary
Agreements (and, in the case of this Agreement, the consummation of the transactions contemplated hereby to be completed prior to the Closing) that are not fully accrued as a liability on the Balance Sheet as of the Balance Sheet Date. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">184 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Section&nbsp;14.14 <U>Waiver of Duty of Utmost Good Faith</U>. With respect to the reinsurance
relationships and other transactions among the parties and their Affiliates contemplated by this Agreement and the Ancillary Agreements, each party absolutely and irrevocably waives resort to the duty of &#147;utmost good faith&#148; or any similar
principle. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Section&nbsp;14.15 <U>Purchaser Parent Guarantee</U>. Purchaser Parent hereby unconditionally, absolutely and irrevocably
guarantees, undertakes and promises to cause Purchaser to fully and promptly pay, perform and observe all of Purchaser&#146;s obligations under, with respect to, in connection with or otherwise arising out of or relating to this Agreement
(collectively, the &#147;<U>Purchaser Obligations</U>&#148;), whether according to the present terms hereof or thereof, or pursuant to any change in the terms, covenants or conditions hereof or thereof at any time hereafter validly made or granted.
In the event that Purchaser fails in any manner whatsoever to pay, perform or observe any of the Purchaser Obligations, Purchaser Parent will duly and promptly pay, perform or observe, as the case may be, the Purchaser Obligations, or cause the same
to be duly and promptly paid, performed or observed, in each case as if Purchaser Parent were itself Purchaser with respect to the Purchaser Obligations. Purchaser Parent represents and warrants that it has all requisite corporate power and
authority to enter into this Agreement, that its obligations under this Agreement have been duly and validly authorized by all requisite corporation action and that upon execution and delivery of this Agreement by the other parties hereto, will be
the legal, valid and binding obligation of Purchaser Parent, subject to the Enforceability Exceptions. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Section&nbsp;14.16 <U>Seller
Parent Guarantee</U>. LMGI hereby unconditionally, absolutely and irrevocably guarantees, undertakes and promises to cause (a)&nbsp;Sellers to fully and promptly pay, perform and observe all of Sellers&#146; obligations under, with respect to, in
connection with or otherwise arising out of or relating to this Agreement (collectively, the &#147;<U>Seller Obligations</U>&#148;), and (b)&nbsp;Bermuda Reinsurer to fully and promptly pay, perform and observe all of Bermuda Reinsurer&#146;s
obligations under, with respect to, in connection with or otherwise arising out of or relating to the COLI Reinsurance Agreement including for the avoidance of doubt the Reinsured Liabilities (as defined in the COLI Reinsurance Agreement)
(collectively, the &#147;<U>COLI Obligations</U>&#148;), whether according to the present terms hereof or thereof, or pursuant to any change in the terms, covenants or conditions hereof or thereof at any time hereafter validly made or granted. In
the event that any Seller or Bermuda Reinsurer, as applicable, fails in any manner whatsoever to pay, perform or observe any of the Seller Obligations or COLI Obligations, respectively, LMGI will duly and promptly pay, perform or observe, as the
case may be, the Seller Obligations or the COLI Obligations, as applicable, or cause the same to be duly and promptly paid, performed or observed, in each case as if LMGI were itself any Seller with respect to the Seller Obligations or Bermuda
Reinsurer with respect to the COLI Obligations. LMGI represents and warrants that it has all requisite corporate power and authority to enter into this Agreement, that its obligations under this Agreement have been duly and validly authorized by all
requisite corporation action and that upon execution and delivery of this Agreement by the other parties hereto, will be the legal, valid and binding obligation of LMGI, subject to the Enforceability Exceptions. Solely for purposes of this
<U>Section&nbsp;14.16</U>, the Ceding Company (as defined in the COLI Reinsurance Agreement) shall be an express third party beneficiary hereunder. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">185 </P>


<p Style='page-break-before:always'>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Section&nbsp;14.17 <U>Reinsurer Parent Guarantee</U>. Reinsurer Parent hereby unconditionally,
absolutely and irrevocably guarantees, undertakes and promises to cause Reinsurer to fully and promptly pay, perform and observe all of Reinsurer&#146;s obligations under, with respect to, in connection with or otherwise arising out of or relating
to this Agreement (collectively, the &#147;<U>Reinsurer Obligations</U>&#148;), whether according to the present terms hereof or thereof, or pursuant to any change in the terms, covenants or conditions hereof or thereof at any time hereafter validly
made or granted. In the event that Reinsurer fails in any manner whatsoever to pay, perform or observe any of the Reinsurer Obligations, Reinsurer Parent will duly and promptly pay, perform or observe, as the case may be, the Reinsurer Obligations,
or cause the same to be duly and promptly paid, performed or observed, in each case as if Reinsurer Parent were itself Reinsurer with respect to the Reinsurer Obligations. Reinsurer Parent represents and warrants that it has all requisite corporate
power and authority to enter into this Agreement, that its obligations under this Agreement have been duly and validly authorized by all requisite corporation action and that upon execution and delivery of this Agreement by the other parties hereto,
will be the legal, valid and binding obligation of Reinsurer Parent, subject to the Enforceability Exceptions. Notwithstanding anything in this Agreement or any Ancillary Agreement to the contrary, Reinsurer Parent does not hereby guarantee, and
nothing in this Agreement or any Ancillary Agreement shall be construed as a guarantee by Reinsurer Parent of, the payment, performance or observation of any obligations of Reinsurer or any of its Affiliates under any of the Ancillary Agreements to
which it is not a party. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Section&nbsp;14.18 <U>Legal Representatives</U>. It is acknowledged by each of the parties that each of Sellers
and certain of their Affiliates have retained Skadden to act as its counsel in connection with the transactions contemplated hereby and that Skadden has not acted as counsel for any other party in connection with the transactions contemplated hereby
and that none of the other parties has the status of a client of Skadden for conflict of interest or any other purposes as a result thereof. Each party hereby agrees that, in the event that any dispute related to the transactions contemplated herein
or pursuant to the Ancillary Agreements arises after the Closing between Purchaser, the Transferred Companies, Reinsurer or any of its or their respective Subsidiaries or Affiliates, on the one hand, and any of Sellers or their respective
Affiliates, on the other hand, Skadden may not be prevented from representing Sellers or their respective Affiliates in such dispute by Purchaser, the Transferred Companies, Reinsurer or any of its or their respective Subsidiaries or Affiliates
because Skadden formerly may have represented the Transferred Companies in any matter substantially related to such dispute. Each of Purchaser (on behalf of itself and the Transferred Companies), Sellers and Reinsurer acknowledges and agrees that,
in connection with any future dispute relating to the transactions contemplated herein or pursuant to the Ancillary Agreements between Purchaser, the Transferred Companies, Reinsurer or any of its or their respective Subsidiaries or Affiliates, on
the one hand, and any of Sellers or their respective Affiliates, on the other hand, with respect to the negotiation, documentation and consummation of the transactions contemplated by this Agreement or the Transaction Agreements, as to all
communications among Skadden, the Transferred Companies and Sellers that relate in any way to the negotiation, documentation and consummation of the transactions contemplated by this Agreement or the Transaction Agreements, the attorney-client
privilege and the expectation of client confidence and any other applicable legal privilege belongs to Sellers, as applicable, and may be controlled by such Persons and shall not pass to Purchaser, the Transferred Companies, Reinsurer or any of
their respective Subsidiaries or Affiliates upon the Closing. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">186 </P>


<p Style='page-break-before:always'>
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 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">187 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">IN WITNESS WHEREOF, the parties hereby execute this Agreement as of the date first set forth
above. </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><DIV ALIGN="right">
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="40%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt">


<TR>
<TD WIDTH="6%"></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD WIDTH="92%"></TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3"><B>LIBERTY MUTUAL INSURANCE COMPANY</B></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">By:</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #000000">/s/ Laurance H.S. Yahia</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top">Name: Laurance H.S. Yahia</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top">Title: Senior Vice President &amp; Treasurer</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16" COLSPAN="3"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3"><B>LIBERTY MUTUAL FIRE INSURANCE COMPANY</B></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">By:</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #000000">/s/ Laurance H.S. Yahia</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top">Name: Laurance H.S. Yahia</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top">Title: Senior Vice President &amp; Treasurer</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16" COLSPAN="3"></TD></TR>
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<TD VALIGN="top" COLSPAN="3"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>LIBERTY MUTUAL GROUP INC</B>.</P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:Times New Roman">solely for purposes of <U>Section&nbsp;8.12</U>, <U>Section&nbsp;8.17</U>, <U>Section&nbsp;8.20</U>, <U>Section&nbsp;8.27</U> and <U>Section&nbsp;14.16</U>
(and <U>Article&nbsp;I</U> and <U>Article&nbsp;XIV</U> to the extent relating thereto)</P></TD></TR>
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<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
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<TD VALIGN="top">By:</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #000000">/s/ Laurance H.S. Yahia</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top">Name: Laurance H.S. Yahia</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top">Title: Senior Vice President &amp; Treasurer</TD></TR>
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<TD HEIGHT="16" COLSPAN="3"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3"><B>THE LINCOLN NATIONAL LIFE INSURANCE COMPANY</B></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">By:</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #000000">/s/ Randal J. Freitag</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top">Name: Randal J. Freitag</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top">Title: Executive Vice President and Chief &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Financial Officer</TD></TR>
</TABLE></DIV> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">[Signature Page to Master Transaction Agreement] </P>

<p Style='page-break-before:always'>
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 <DIV ALIGN="right">
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="40%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt">


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<TD VALIGN="top" COLSPAN="3"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>LINCOLN NATIONAL CORPORATION</B></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:Times New Roman">solely for purposes of <U>Section&nbsp;8.12</U>, <U>Section&nbsp;9.05</U> and <U>Section&nbsp;14.15</U> (and <U>Article&nbsp;I</U> and <U>Article&nbsp;XIV</U>
to the extent relating thereto)</P></TD></TR>
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<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">By:</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #000000">/s/ Randal J. Freitag</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top">Name: Randal J. Freitag</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Title: &nbsp;&nbsp;Executive Vice President and Chief</P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Financial Officer</P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16" COLSPAN="3"></TD></TR>
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<TD VALIGN="top" COLSPAN="3"><B>PROTECTIVE LIFE INSURANCE COMPANY</B></TD></TR>
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<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
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<TD VALIGN="top">By:</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #000000">/s/ Nancy Kane</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top">Name: Nancy Kane</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Title: &nbsp;&nbsp;Senior Vice President, Acquisitions and</P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Corporation Development</P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16" COLSPAN="3"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>PROTECTIVE LIFE CORPORATION</B></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:Times New Roman">solely for purposes of <U>Section&nbsp;8.12</U> and <U>Section&nbsp;14.17</U> (and <U>Article&nbsp;I</U> and <U>Article&nbsp;XIV</U> to the extent relating
thereto)</P></TD></TR>
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<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">By:</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #000000">/s/ Nancy Kane</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top">Name: Nancy Kane</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Title: &nbsp;&nbsp;Senior Vice President, Acquisitions and</P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Corporation Development</P></TD></TR>
</TABLE></DIV> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">[Signature Page to Master Transaction Agreement] </P>
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