Layers Not Reinsured. In addition to the retention described in paragraph 2, VFL's 25% net retention of risk shall also include any portion of risks, expenses and other benefits (e.g. in the case of the Ceded Reinsurance Contract identified as "VUL-102" in Schedule 1, the first $200,000) that is not subject to reinsurance under the Ceded Reinsurance Contracts. In consideration of such retention, VFL shall be entitled to payment, in addition to that specified in paragraph 2, that is equal to VFL's 25% net retention of risk retained under this paragraph 7 (expressed in aggregate risk dollars for all Policies ceded under the Ceded Reinsurance Contract(s) at issue) multiplied by the average reinsurance premium payable under the Ceded Reinsurance Contract(s) at issue per thousand dollars of net amount at risk for all Policies ceded under the Ceded Reinsurance Contract(s) at issue (e.g. in the case of the Ceded Reinsurance Contract identified as "VUL-102'' in Schedule 1, the average reinsurance premiums payable in respect of VUL-102). [The remainder of this page is intentionally left blank.] C:\NrPortbl\WO\JRAWERT\123951_8.DOC Please indicate your acknowledgement of and agreement to the terms of this letter agreement by signing below. Very truly yours, VALLEY FORGE LIFE INSURANCE COMPANY By: ___________________________________ Xxxxxxxx X. Xxxxxx Senior Vice President Acknowledged and Agreed: PHL VARIABLE INSURANCE COMPANY By: ____________________________________ Xxxxx Xxx President Please indicate your acknowledgement of and agreement to the terms of this letter agreement by signing below. Very truly yours, VALLEY FORGE LIFE INSURANCE COMPANY By: ____________________________ Xxxxxxxx X. Xxxxxx Senior Vice President Acknowledged and Agreed: PHL VARIABLE INSURANCE COMPANY By: ___________________________________ Xxxxxxxxxxx X. Xxxxxx Senior Vice President SCHEDULE 1 Ceded Reinsurance Contracts VUL 1997 Pool: Capital Select Variable Universal Life (VUL-97) Treaty Effective 12/1/96 With each of:
Appears in 4 contracts
Samples: Coinsurance Agreement (Jackson VFL Variable Annuity Separate Account), Coinsurance Agreement (Jackson VFL Variable Annuity Separate Account), Coinsurance Agreement (Jackson VFL Variable Life Separate Account)
