Common use of TERMINATIONS AND REDUCTIONS Clause in Contracts

TERMINATIONS AND REDUCTIONS. A. Unless it is recaptured in accordance with Article VII, reinsurance under this Agreement will remain in force as long as the reinsured policy remains in force without reduction except as set forth below in this Article. B. Termination or reductions will take place in accordance with the following rules: 1. In the event of the reduction, lapse, or termination of a policy or policies reinsured under this Agreement or any other agreement, the CEDING COMPANY will, in order to maintain its full retention, reduce or terminate reinsurance hereunder on that life. The reinsured amount will be reduced, effective on the same date, by the full amount of the reduction of the affected policies. The reinsurance reduction will apply first to the policy or policies being reduced and then, on a chronological basis, to other reinsured policies on the life, beginning with the oldest policy. If the amount of reduction applicable under this Agreement exceeds the risk amount reinsured under this Agreement, the reinsurance on the policy or policies will be terminated. The REINSURER will refund any unearned reinsurance premiums. If the reinsurance for a reinsured policy has been placed with more than one reinsurer, the reduction will be applied to all reinsurers pro rata to the amounts originally reinsured with each reinsurer. A reduction to one of the COMPANY’s policies not reinsured hereunder will require that the COMPANY maintain its retention as specified in Schedule A of this Agreement. 2. Termination or reduction of a wholly reinsured policy (e.g. facultative cases) will not affect other insurance in force. C. Whenever the total amount of insurance on a policy reduces to $25,000 or less, the reinsurance will be wholly recaptured.

TERMINATIONS AND REDUCTIONS. A. Unless it is recaptured in accordance with Article VII, reinsurance under this Agreement will remain in force as long as the reinsured policy remains in force without reduction except as set forth below in this Article. B. Termination or reductions will take place in accordance with the following rules: 1. In the event of the reduction, lapse, or termination If any portion of a policy Policy is terminated or policies reinsured under this Agreement or reduced, any other agreement, the CEDING COMPANY will, in order to maintain its full retention, reduce or terminate reinsurance hereunder on that life. The reinsured amount life will also be reduced, effective on the same date, decreased by the full amount of the reduction of the affected policies. The reinsurance reduction will apply first to the policy or policies being reduced and then, on a chronological basis, to other reinsured policies on the life, beginning with the oldest policycorresponding amount. If the amount of reduction applicable under this Agreement insurance terminated equals or exceeds the risk amount reinsured under this Agreementof reinsurance, the full amount of reinsurance on the policy or policies will be terminated. The REINSURER will refund any unearned reinsurance premiumson Policy Terminations and Reductions shall be affected as follows: 1. Reinsurance on the affected Policy shall be adjusted first. If the entire reduction can be made on this reinsurance, then reinsurance for a reinsured policy has been placed with more than one reinsureron other policies will not be adjusted. 2. Should the amount of reduction in the CEDING COMPANY’s insurance exceed the amount of reinsurance on the affected Policy, then such reinsurance shall be cancelled and the remainder of the reduction will be applied to all reinsurers pro rata reinsurance on other policies in force on the same life in a chronological order according to policy date (“first in, first out”). 3. If more than one reinsurer is providing reinsurance on the life involved, the reduction in reinsurance shall be proportional to each reinsurer’s share of the reinsurance on that policy. 4. The retention of the CEDING COMPANY on the affected life is to be maintained unchanged. The operation of this Article cannot result in the CEDING COMPANY retaining more coverage than its retention prior to the amounts originally reinsured with each reinsurerreduction or termination of its Policy. A reduction to one of the COMPANY’s policies not reinsured hereunder will require that the COMPANY maintain its retention as specified in Schedule A of this Agreement. 2FNWL Agreement No. Termination or reduction of a wholly reinsured policy (e.g. facultative cases) will not affect other insurance in force. C. Whenever the total amount of insurance on a policy reduces to $25,000 or less, the reinsurance will be wholly recaptured.08-004-TL Page 14 Coverage Effective 9-01-08

TERMINATIONS AND REDUCTIONS. A. Unless it is recaptured in accordance with Article VII, reinsurance under this Agreement will remain in force as long as the reinsured policy remains in force without reduction except as set forth below in this Article. B. Termination or reductions will take place in accordance with the following rules: 1. In the event of the reduction, lapse, or termination If any portion of a policy Policy is terminated or policies reinsured under this Agreement or reduced, any other agreement, the CEDING COMPANY will, in order to maintain its full retention, reduce or terminate reinsurance hereunder on that life. The reinsured amount life will also be reduced, effective on the same date, decreased by the full amount of the reduction of the affected policies. The reinsurance reduction will apply first to the policy or policies being reduced and then, on a chronological basis, to other reinsured policies on the life, beginning with the oldest policycorresponding amount. If the amount of reduction applicable under this Agreement insurance terminated equals or exceeds the risk amount reinsured under this Agreementof reinsurance, the full amount of reinsurance on the policy or policies will be terminated. The REINSURER will refund any unearned reinsurance premiumson Policy Terminations and Reductions shall be affected as follows: 1. Reinsurance on the affected Policy shall be adjusted first. If the entire reduction can be made on this reinsurance, then reinsurance for a reinsured policy has been placed with more than one reinsureron other policies will not be adjusted. 2. Should the amount of reduction in the CEDING COMPANY’s insurance exceed the amount of reinsurance on the affected Policy, then such reinsurance shall be cancelled and the remainder of the reduction will be applied to all reinsurers pro rata reinsurance on other policies in force on the same life in a chronological order according to policy date (“first in, first out”). 3. If more than one reinsurer is providing reinsurance on the life involved, the reduction in reinsurance shall be proportional to each reinsurer’s share of the reinsurance on that policy. 4. The retention of the CEDING COMPANY on the affected life is to be maintained unchanged. The operation of this Article cannot result in the CEDING COMPANY retaining more coverage than its retention prior to the amounts originally reinsured with each reinsurerreduction or termination of its Policy. A reduction to one of the COMPANY’s policies not reinsured hereunder will require that the COMPANY maintain its retention as specified in Schedule A of this Agreement. 2FNWL Agreement No. Termination or reduction of a wholly reinsured policy (e.g. facultative cases) will not affect other insurance in force. C. Whenever the total amount of insurance on a policy reduces to $25,000 or less, the reinsurance will be wholly recaptured.07-003a-TL Page 14 Coverage Effective 9-01-08

TERMINATIONS AND REDUCTIONS. A. Unless it is recaptured in accordance with Article VII, reinsurance under this Agreement AGREEMENT will remain in force as long as the reinsured policy remains in force without reduction except as set forth below in this Article. B. Termination or reductions will take place in accordance with the following rules: 1. In the event of the reduction, lapse, or termination of a policy or policies reinsured under this Agreement AGREEMENT or any other agreement, the CEDING COMPANY will, in order to maintain its full retention, reduce or terminate reinsurance hereunder on that life. The reinsured amount will be reduced, effective on the same date, by the full amount of the reduction of the affected policies. The reinsurance reduction will apply first to the policy or policies being reduced and then, on a chronological basis, to other reinsured policies on the life, beginning with the oldest policy. If the amount of reduction applicable under this Agreement AGREEMENT exceeds the risk amount reinsured under this AgreementAGREEMENT, the reinsurance on the policy or policies will be terminated. The REINSURER will refund any unearned reinsurance premiums. If the reinsurance for a reinsured policy has been placed with more than one reinsurer, the reduction will be applied to all reinsurers pro rata to the amounts originally reinsured with each reinsurer. A reduction to one of the CEDING COMPANY’s ’S policies not reinsured hereunder will require that the CEDING COMPANY maintain its retention as specified in Schedule A of this AgreementAGREEMENT. 2. Termination or reduction of a wholly reinsured policy (e.g. facultative cases) will not affect other insurance in force. C. Whenever the total amount of insurance on a policy reduces to $25,000 or less, the reinsurance will be wholly recaptured.