Common use of REVISION OF PREMIUM RATES AND SPECIAL TERMINATION PROVISION Clause in Contracts

REVISION OF PREMIUM RATES AND SPECIAL TERMINATION PROVISION. a. Periodically, as mutually agreed upon by the parties, THE COMPANY and THE REINSURER shall review the mortality experience with respect to the business reinsured hereunder and shall determine whether the reinsurance premium rates charged per policy shall be modified. Either party may request a review, consent to which shall not be unreasonably withheld. b. During any such review pursuant to Section 12a. THE COMPANY and THE REINSURER agree to evaluate the mortality experience by policy issue year, with respect to the application of reinsurance premium rates. The application of modified reinsurance premium rates shall remain on a point-in-scale (durational) basis. Grouping of policy issue years shall be agreed upon by THE COMPANY and THE REINSURER for evaluation and rate application purposes. c. If THE COMPANY and THE REINSURER agree that the mortality experience is less favorable than anticipated, an increase in the reinsurance premium rates shall be initiated. If THE COMPANY and THE REINSURER agree that the mortality experience is better than anticipated, a decrease in the reinsurance premium rates shall be initiated. Implementation of any rate change shall occur within 90 days of completion of the review. d. If, however, THE COMPANY and THE REINSURER are unable to agree on the results of the mortality experience whereby THE REINSURER determines a need for no change or an increase in the reinsurance premium rates and THE COMPANY does not agree, THE COMPANY may terminate reinsurance for portion of each policy reinsured with THE REINSURER, and reinsure the portion of such policies elsewhere. Such termination may be exercised three (3) years after written notification of such a disagreement, provided the policies affected have been reinsured with THE REINSURER for a period of no less than five (5) years in total. Within twelve (12) months following such disagreement, either party may retract its position with respect to the modification of the reinsurance premium rates. e. This agreement includes no subsidation by duration, and therefore, no terminal charge shall be paid by THE COMPANY to THE REINSURER, if THE COMPANY elects to terminate reinsurance under this Agreement based upon the foregoing Section 12d.

REVISION OF PREMIUM RATES AND SPECIAL TERMINATION PROVISION. a. Periodically8.3.1 The Ceding Company may, as mutually agreed upon by the partiesat its option, THE COMPANY and THE REINSURER shall initiate a review of the mortality experience with respect to the business reinsured hereunder hereunder. cost of insurance rates the Company charges each insured life and shall determine whether the If the Ceding Company modifies the COI rates charged to its policyholders for new and/or inforce business specifically as a result of any such review, the parties agree to negotiate a corresponding change to the reinsurance premium YRT rates charged per policy shall be modified. Either party may request a review, consent to which shall not be unreasonably withheldunder this Agreement. b. During any such review pursuant to Section 12a. THE COMPANY and THE REINSURER 8.3.2 The parties agree to evaluate the mortality experience by policy issue year, with respect to the application of cost of insurance rates and reinsurance premium rates. The If modified cost of insurance rates or the premium rate change applies to inforce policies, the application of modified the reinsurance premium rates shall will remain on a point-in-scale (durational) basis. Grouping of policy issue years shall will be agreed upon by THE COMPANY and THE REINSURER the parties for evaluation and rate application purposes. c. 8.3.3 If THE COMPANY and THE REINSURER agree it is agreed among the parties that the mortality experience is less than favorable than anticipated, an increase in the cost of insurance rates and the reinsurance premium rates shall will be initiated. If THE COMPANY and THE REINSURER the parties agree that the mortality experience is better than anticipated, a decrease in the cost of insurance rates and the reinsurance premium rates shall may be initiated. Implementation of any rate change shall occur within 90 days of completion of the review. d. 8.3.4 If M Life evaluates and believes the mortality experience is less favorable than anticipated, and the Reinsurer believes, however, the experience remains consistent with its anticipation or more favorable, M Life may increase its cost of insurance rates while the Reinsurer may agree not to modify the reinsurance premium rates charged per policy. 8.3.5 If, however, THE COMPANY and THE REINSURER the parties are unable to agree on the results of the mortality experience whereby THE REINSURER the Reinsurer determines a need for no change or an increase in the reinsurance premium rates and THE COMPANY does the Company and M Life do not agree, THE COMPANY the Company and M Life may terminate reinsurance for portion of on each policy reinsured with THE REINSURER, under this Agreement and reinsure the portion of such policies elsewhere. Such termination may be exercised three (3) years after written notification of such a disagreement, provided the policies affected have been reinsured with THE REINSURER the Reinsurer for a period of no less than five (5) years in total. Within twelve (12) months following such disagreement, either party may retract its position with respect to the modification of the cost of insurance rates or the reinsurance premium rates. e. 8.3.6 This agreement Agreement includes no subsidation subsidization by duration, and therefore, therefore no terminal termination charge shall will be paid by THE COMPANY the Company and M Life to THE REINSURERthe Reinsurer, if THE COMPANY elects the Company and M Life elect to terminate the reinsurance under this Agreement based upon the foregoing Section 12dforegoing.