Common use of RETENTION LIMIT CHANGES Clause in Contracts

RETENTION LIMIT CHANGES. The Ceding Company may increase its limit of retention and may elect, subject to the provisions of this Article, to continue the reinsurance inforce under this Agreement without change, or to reduce all eligible reinsurance inforce under this Agreement as set forth below. The increased limit of retention shall be effective with respect to reinsurance which is placed in effect on or after the effective date of the increase subsequent to the Ceding Company providing written notice to the Reinsurer of such increase and of its election to either continue or reduce reinsurance on inforce business. The retention limits of the Ceding Company as of the effective date of this Agreement are shown in Exhibit A – Retention Limits of the Ceding Company. If the Ceding Company changes its retention limits as shown in Exhibit A – Retention Limits of the Ceding Company, it will provide the Reinsurer with prompt written notice of the intended changes. A change to the Ceding Company’s retention limits will not affect policies reinsured under this Agreement except as specifically provided elsewhere in this Agreement. Furthermore, unless agreed between the Parties, an increase in the Ceding Company’s retention limit will not increase the Automatic Binding Limits. Whenever the Ceding Company increases its Maximum Retention Per Life as set forth in Exhibit A – Retention Limits of the Ceding Company, the Ceding Company will notify the Reinsurer of its intent to retention limits. If the Ceding Company has maintained its Maximum Retention Per Life for the plan and the insured’s issue age, sex, and mortality classification, it may apply its increased retention limits to reduce the amount of reinsurance in force as follows: 1. the reduction of reinsurance on affected policies will become effective on the policy anniversary date immediately following the ; however, no reduction will be made until a policy has been in force for at least twenty (20) policy years, for policies where the corporate maximum dollar retention was held at issue, up to the then current increased retention; and 2. if any policy reinsured on the life is , all policies reinsured on the life that are eligible for under the provisions of this Article must be up to the Ceding Company’s new Maximum Retention Per Life in a consistent manner, and the Ceding Company must increase its total amount of insurance on each reinsured life. The Ceding Company may not revoke its for policies becoming eligible at future anniversaries. If portions of a policy reinsured under this Agreement have been reinsured with more than one Reinsurer, the Ceding Company must allocate the reduction in reinsurance so that the amount reinsured by each Reinsurer after the reduction is proportionately the same as if the new Maximum Retention Per Life had been in effect at the time of issue. [page break] Automatic and Facultative YRT Reinsurance Agreement

RETENTION LIMIT CHANGES. The Ceding Company may increase its limit of retention and may elect, subject to the provisions of this Article, to continue the reinsurance inforce under this Agreement without change, or to reduce all eligible reinsurance inforce under this Agreement as set forth below. The increased limit of retention shall be effective with respect to reinsurance which is placed in effect on or after the effective date of the increase subsequent to the Ceding Company providing written notice to the Reinsurer of such increase and of its election to either continue or reduce reinsurance on eligible inforce business. The retention limits of the Ceding Company as of the effective date Effective Date of this Agreement are shown in Exhibit A – Retention Limits of the Ceding Company. If the Ceding Company changes its retention limits as shown in Exhibit A – Retention Limits of the Ceding Company, it will provide the Reinsurer with prompt written notice of the intended changes prior to implementing such changes. A change to the Ceding Company’s retention limits will not affect policies Policies reinsured under this Agreement except as specifically provided elsewhere in this Agreement. Furthermore, unless agreed between the Parties, an increase in the Ceding Company’s retention limit will not increase the Automatic Binding Limits. Whenever the Ceding Company increases its Maximum Retention Per Life maximum retention per life as set forth in Exhibit A – Retention Limits of the Ceding Company, the Ceding Company will notify the Reinsurer of its intent to retention limits[ ]. If the Ceding Company has maintained its Maximum Retention Per Life maximum retention per life for the plan and the insured’s issue age, sex, and mortality classification, it may apply its increased retention limits to reduce the amount of reinsurance in force inforce as follows: 1. a. the reduction of reinsurance on affected policies Policies will become effective on the policy Policy anniversary date immediately following the notice [ ]; however, no reduction will be made until a policy Policy has been in force inforce for at least twenty (20) policy [ ] years, for policies Policies where the corporate maximum dollar retention was held at issue, up to the then current increased retention; and 2. b. if any policy Policy reinsured on the life is [ ], all policies Policies reinsured on the life that are eligible for [ ] under the provisions of this Article must be [ ] up to the Ceding Company’s new Maximum Retention Per Life maximum retention per life in a consistent manner, and the Ceding Company must increase its total amount of insurance on each reinsured life. The Ceding Company may not revoke its [ ] for policies Policies becoming eligible at future anniversaries. If portions of a policy Policy reinsured under this Agreement have been reinsured with more than one Reinsurerreinsurer, the Ceding Company must allocate the reduction in reinsurance so that the amount reinsured by each Reinsurer reinsurer after the reduction is proportionately the same as if the new Maximum Retention Per Life maximum retention per life had been in effect at the time of issue. [page break] Automatic and Facultative YRT Reinsurance Agreement.

RETENTION LIMIT CHANGES. The Ceding Company may increase its limit of retention and may elect, subject to the provisions of this Article, to continue the reinsurance inforce under this Agreement without change, or to reduce all eligible reinsurance inforce under this Agreement as set forth below. The increased limit of retention shall be effective with respect to reinsurance which is placed in effect on or after the effective date of the increase subsequent to the Ceding Company providing written notice to the Reinsurer of such increase and of its election to either continue or reduce reinsurance on inforce business. The retention limits of the Ceding Company as of the effective date of this Agreement are shown in Exhibit A – Retention Limits of the Ceding Company. If the Ceding Company changes its retention limits as shown in Exhibit A – Retention Limits of the Ceding Company, it will provide the Reinsurer with prompt written notice of the intended changes. A change to the Ceding Company’s retention limits will not affect policies reinsured under this Agreement except as specifically provided elsewhere in this Agreement. Furthermore, unless agreed between the Parties, an increase in the Ceding Company’s retention limit will not increase the Automatic Binding Limits. Whenever the Ceding Company increases its Maximum Retention Per Life as set forth in Exhibit A – Retention Limits of the Ceding Company, the Ceding Company will notify the Reinsurer of its intent to retention limits. If the Ceding Company has maintained its Maximum Retention Per Life for the plan and the insuredInsured’s issue age, sex, and mortality classification, it may apply its increased retention limits to reduce the amount of reinsurance in force as follows: 1. the reduction of reinsurance on affected policies will become effective on the policy Policy anniversary date immediately following the ; however, no reduction will be made until a policy Policy has been in force for at least twenty (20) policy yearsthe level term period, for policies where the corporate maximum dollar retention was held at issue, up to the then current increased retention; and 2. if any policy Policy reinsured on the life is , all policies reinsured on the life that are eligible for under the provisions of this Article must be up to the Ceding Company’s new Maximum Retention Per Life in a consistent manner, and the Ceding Company must increase its total amount of insurance on each reinsured life. The Ceding [page break] Automatic and Facultative YRT Reinsurance Agreement Company may not revoke its for policies becoming eligible at future anniversaries. If portions of a policy Policy reinsured under this Agreement have been reinsured with more than one Reinsurer, the Ceding Company must allocate the reduction in reinsurance so that the amount reinsured by each Reinsurer after the reduction is proportionately the same as if the new Maximum Retention Per Life had been in effect at the time of issue. [page break] Automatic and Facultative YRT Reinsurance Agreement.

RETENTION LIMIT CHANGES. The Ceding Company may increase its limit of retention and may elect, subject to the provisions of this Article, to continue the reinsurance inforce under this Agreement without change, or to reduce all eligible reinsurance inforce under this Agreement as set forth below. The increased limit of retention shall be effective with respect to reinsurance which is placed in effect on or after the effective date of the increase subsequent to the Ceding Company providing written notice to the Reinsurer of such increase and of its election to either continue or reduce reinsurance on inforce business. The retention limits of the Ceding Company as of the effective date Effective Date of this Agreement are shown in Exhibit A – Retention Limits of the Ceding Company. If the Ceding Company changes its retention limits as shown in Exhibit A – Retention Limits of the Ceding Company, it will provide the Reinsurer with prompt written notice of the intended changes. A change to the Ceding Company’s retention limits will not affect policies Policies reinsured under this Agreement except as specifically provided elsewhere in this Agreement. Furthermore, unless agreed between the Parties, an increase in the Ceding Company’s retention limit will not increase the Automatic Binding Limits. Whenever the Ceding Company increases its Maximum Retention Per Life maximum retention per life as set forth in Exhibit A – Retention Limits of the Ceding Company, the Ceding Company has [_____] and will notify the Reinsurer [_____] within [_____] days of its intent to retention limitsthe effective date of such increase. If the Ceding Company has maintained its Maximum Retention Per Life maximum retention per life for the plan and the insured’s issue age, sex, and mortality classification, it may apply its increased retention limits to reduce the amount of reinsurance in force as follows: 1. the a. The reduction of reinsurance on affected policies Policies will become effective on the policy Policy anniversary date immediately following the later of the effective date specified in the notice [_____]; however, no reduction will be made until a policy Policy has been in force for at least twenty (20) policy [_____] years, for policies where the corporate maximum dollar retention was held at issue, up to the then current increased retention; and. 2. if any policy b. If a Policy reinsured on the life is [_____], all policies Policies reinsured on the life that are eligible for [_____] under the provisions of this Article must be [_____] up to the Ceding Company’s new Maximum Retention Per Life maximum retention limit in a consistent manner, and the Ceding Company must increase its total amount of insurance on each reinsured life. The Ceding Company may not revoke its [_____] for policies Policies becoming eligible at future anniversaries. If portions . c. For a Policy issued as a result of a policy reinsured under this Agreement have been reinsured with more than one Reinsurerconversion, the Ceding Company must allocate [_____] terms of this agreement will apply, and the reduction in duration period for the purpose of [_____] will be measured from the issue date of the original Policy. d. The amount of reinsurance so that the amount reinsured by each Reinsurer after the reduction [_____] is proportionately the same as if the new Maximum Retention Per Life had been in effect at the time of issuebased on [_____]. [page break] e. The Reinsurer will not be liable for any reinsured Policies or portions of such reinsured Policies [_____] Automatic and Facultative YRT Reinsurance Agreementthat the Ceding Company has overlooked. Any payments associated with overlooked Policies will be handled in accordance with the provision of Article 19 –

RETENTION LIMIT CHANGES. The Ceding Company may increase its limit of retention and may elect, subject to the provisions of this Article, to continue the reinsurance inforce under this Agreement without change, or to reduce all eligible reinsurance inforce under this Agreement as set forth below. The increased limit of retention shall be effective with respect to reinsurance which is placed in effect on or after the effective date of the increase subsequent to the Ceding Company providing written notice to the Reinsurer of such increase and of its election to either continue or reduce reinsurance on inforce business. The retention limits of the Ceding Company as of the effective date of this Agreement are shown in Exhibit A – Retention Limits of the Ceding Company. If the Ceding Company changes its retention limits as shown in Exhibit A – Retention Limits of the Ceding Company, it will provide the Reinsurer with prompt written notice of the intended changes. A change to the Ceding Company’s retention limits will not affect policies Policies reinsured under this Agreement except as specifically provided elsewhere in this Agreement. Furthermore, unless agreed between the Parties, an increase in the Ceding Company’s retention limit will not increase the Automatic Binding Limits[ ]. Whenever the Ceding Company increases its Maximum Retention Per Life maximum retention per life as set forth in Exhibit A – Retention Limits of the Ceding Company, the Ceding Company will notify the Reinsurer of its intent to retention limits[ ]. If the Ceding Company has maintained its Maximum Retention Per Life maximum retention per life for the plan and the insured’s issue age, sex, and mortality classification, it may apply its increased retention limits to reduce the amount of reinsurance in force as follows: 1. a. the reduction of reinsurance on affected policies Policies will become effective on the policy Policy anniversary date immediately following the notice [ ]; however, no reduction will be made until a policy Policy has been in force for at least twenty (20) policy the [ ]years, for policies Policies where the corporate maximum dollar retention was held at issue, up to the then current increased retention; and 2. b. if any policy Policy reinsured on the life is [ ], all policies Policies reinsured on the life that are eligible for recapture under the provisions of this Article must be [ ] up to the Ceding Company’s new Maximum Retention Per Life maximum retention per life in a consistent manner, and the Ceding Company must increase its total amount of insurance on each reinsured life. The Ceding Company may not revoke its [ ] for policies Policies becoming eligible at future anniversaries. If portions of a policy Policy reinsured under this Agreement have been reinsured with more than one Reinsurer, the Ceding Company must allocate the reduction in reinsurance so that the amount reinsured by each Reinsurer after the reduction is proportionately the same as if the new Maximum Retention Per Life maximum retention per life had been in effect at the time of issue. [page break] Automatic and Facultative YRT Reinsurance Agreement.

RETENTION LIMIT CHANGES. The Ceding Company may increase its limit of retention and may elect, subject to the provisions of this Article, to continue the reinsurance inforce under this Agreement without change, or to reduce all eligible reinsurance inforce under this Agreement as set forth below. The increased limit of retention shall be effective with respect to reinsurance which is placed in effect on or after the effective date of the increase subsequent to the Ceding Company providing written notice to the Reinsurer of such increase and of its election to either continue or reduce reinsurance on inforce business. The retention limits of the Ceding Company as of the effective date of this Agreement are shown in Exhibit A – Retention Limits of the Ceding Company. 12.1 If the Ceding Company changes increases its maximum retention limits as shown in Exhibit A – Retention Limits of the Ceding CompanyA, it will shall provide the Reinsurer Munich Re with prompt written notice of the proposed increase thirty (30) days in advance of its intended changeseffective date. A change An increase to the Ceding Company’s 's maximum retention limits will shall not affect policies the reinsured under this Agreement Policies in-force except as specifically provided elsewhere in this Agreement, and any proposed increase in the Ceding Company's retention related to New Business must be approved in writing by Munich Re prior to the effective date of such increase. Furthermore, unless agreed between the Partiesparties, an increase in the Ceding Company’s 's retention limit will schedule shall not affect an increase in the Automatic Binding Limitstotal risk amount that it may automatically cede to Munich Re. Whenever the -------------------------------------------------------------------------------- TREATY #3684 MUNICH AMERICAN REASSURANCE COMPANY ARTICLE 13 - RECAPTURE 13.1 RECAPTURE UPON INCREASE IN CEDING COMPANY RETENTION. (a) The Ceding Company increases its Maximum Retention Per Life as set forth in Exhibit A – Retention Limits must give Munich Re thirty (30) days written notice prior to the commencement of the Ceding Company, the Ceding Company will notify the Reinsurer of its intent to retention limits. If the Ceding Company has maintained its Maximum Retention Per Life for the plan and the insured’s issue age, sex, and mortality classification, it may apply its increased retention limits to reduce the amount of reinsurance in force as follows:recapture. 1. the (b) The reduction of reinsurance on affected policies Policies will become effective on the policy anniversary date immediately following the notice of election to recapture; however, no reduction will be made until a policy Policy has been in in-force for at least twenty 20 years. (20c) policy years, for policies where the corporate maximum dollar retention was held at issue, up to the then current increased retention; and 2. if If any policy reinsured on the life Policy is recaptured, all policies reinsured on the life that are Policies eligible for recapture under the provisions of this Article must be recaptured up to the Ceding Company’s 's new Maximum Retention Per Life maximum retention limits in a consistent manner, manner and the Ceding Company must increase its total amount of insurance on each reinsured life. The Ceding Company may not revoke its election to recapture for policies Policies becoming eligible at future anniversaries. If portions of a policy the reinsured under this Agreement Policy have been reinsured with ceded to more than one Reinsurerreinsurer, the Ceding Company must allocate the reduction in reinsurance so that the amount reinsured by each Reinsurer reinsurer after the reduction is proportionately the same as if the new Maximum Retention Per Life maximum dollar retention limits had been in effect at the time of issue. [page break] Automatic The amount of reinsurance eligible for recapture is based on the current amount at risk as of the date of recapture. For a Policy issued as a result of exchange, conversion, or replacement, the recapture terms of the reinsurance agreement covering the original policy will apply, and Facultative YRT Reinsurance Agreementthe duration period for the purpose of recapture will be measured from the effective date of the reinsurance on the original policy. If there is a reinsured waiver of premium claim in effect when recapture takes place, Munich Re will continue to pay its share of the waiver claim until it terminates. Munich Re will not be liable for any other benefits, including the basic life risk, that are eligible for recapture. All such eligible benefits will be recaptured as if there were no waiver claim in effect. After the effective date of recapture, Munich Re shall not be liable for any reinsured Policies or portions of such reinsured Policies that should have been recaptured pursuant to this Section 13.1. Article 18, Errors and Omissions, shall not apply to this section. No recapture will be permitted if the Ceding Company has either obtained or increased stop loss reinsurance coverage as justification for the increase in retention limits. -------------------------------------------------------------------------------- TREATY #3684 MUNICH AMERICAN REASSURANCE COMPANY

RETENTION LIMIT CHANGES. The Ceding Company may increase its limit of retention and may elect, subject to the provisions of this Article, to continue the reinsurance inforce under this Agreement without change, or to reduce all eligible reinsurance inforce under this Agreement as set forth below. The increased limit of retention shall be effective with respect to reinsurance which is placed in effect on or after the effective date of the increase subsequent to the Ceding Company providing written notice to the Reinsurer of such increase and of its election to either continue or reduce reinsurance on eligible inforce business. The retention limits of the Ceding Company as of the effective date Effective Date of this Agreement are shown in Exhibit A – Retention Limits of the Ceding Company. If the Ceding Company changes its retention limits as shown in Exhibit A – Retention Limits of the Ceding Company, it will provide the Reinsurer with prompt written notice of the intended changes prior to implementing such changes. A change to the Ceding Company’s retention limits will not affect policies Policies reinsured under this Agreement except as specifically provided elsewhere in this Agreement. Furthermore, unless agreed between the Parties, an increase in the Ceding Company’s retention limit will not increase the Automatic Binding Limits[ ]. Whenever the Ceding Company increases its Maximum Retention Per Life maximum retention per life as set forth in Exhibit A – Retention Limits of the Ceding Company, the Ceding Company will notify the Reinsurer of its intent to retention limits[ ]. If the Ceding Company has maintained its Maximum Retention Per Life maximum retention per life for the plan and the insured’s issue age, sex, and mortality classification, it may apply its increased retention limits to reduce the amount of reinsurance in force inforce as follows: 1. a. the reduction of reinsurance on affected policies Policies will become effective on the policy Policy anniversary date immediately following the notice [ ]; however, no reduction will be made until a policy Policy has been in force inforce for at least twenty (20) policy [ ] years, for policies Policies where the corporate maximum dollar retention was held at issue, up to the then current increased retention; and 2. b. if any policy Policy reinsured on the life is [ ], all policies Policies reinsured on the life that are eligible for recapture under the provisions of this Article must be [ ] up to the Ceding Company’s new Maximum Retention Per Life maximum retention per life in a consistent manner, and the Ceding Company must increase its total amount of insurance on each reinsured life. The Ceding Company may not revoke its [ ] for policies Policies becoming eligible at future anniversaries. If portions of a policy Policy reinsured under this Agreement have been reinsured with more than one Reinsurerreinsurer, the Ceding Company must allocate the reduction in reinsurance so that the amount reinsured by each Reinsurer reinsurer after the reduction is proportionately the same as if the new Maximum Retention Per Life maximum retention per life had been in effect at the time of issue. [page break] Automatic and Facultative YRT Reinsurance Agreement.