AMENDMENT NO. 1 TO
AUTOMATIC REINSURANCE AGREEMENT
EFFECTIVE AS OF APRIL 1, 2001
AMENDED AND RESTATED AS OF JULY 1, 2004
(Agreement)
between
METLIFE INVESTORS USA INSURANCE COMPANY
(Cedent)
and
EXETER REASSURANCE COMPANY, LTD.
(Reinsurer)
The Agreement is hereby amended, as of May 1, 2005, as follows:
1. The following paragraph amends and, as amended, restates paragraph C.2
of Article I, Scope of Agreement:
2. This Agreement covers only the Cedent's contractual liability for
reinsured claims that are realized upon annuitization or exercise
of the Guaranteed Principal Option if applicable under the
contractual terms of the Income Program within the variable
annuity contract forms specified in Schedule A.
2. The following paragraph amends and, as amended, restates paragraph C
of Article IV, Net Amount at Risk:
C. The IBNAR (Income Benefit Net Amount at Risk) for each variable
annuity contract ceded hereunder shall be equal to (i) or (ii),
where:
(i) IBNAR = Maximum [(IBB * (MAPR/SAPR) - Account Value), 0] *
Reinsurer's Percentage
where:
. The INCOME BENEFIT BASE (IBB) is as defined in Schedule A
. The MINIMUM ANNUITY PURCHASE RATE (MAPR) per $1000 is
calculated using the following assumptions:
Mortality Table Annuity 2000 (Exhibit I)
Age Setback 7 Years
Mortality Improvement None
Unisex Blend: Sex distinct only
Interest Rate: 2.5% all years
Expenses: None
Premium Taxes: Applied by state of residence and market
Age: Attained age on exercise date
Frequency of payment Monthly
Annuity form:
1. Individual Basis: Limited to a Life Annuity with a Period
Certain The number of years of Period Certain is as defined
below:
Age at Annuitization Period Certain Years
-------------------- --------------------
Up to 79 10
80 9
81 8
82 7
83 6
84-85 5
2. Joint Basis: Limited to a Joint and 100% Survivor Annuity
with 10-Year Period Certain
.. The SETTLEMENT ANNUITY PURCHASE RATE (SAPR) per $1000, which is used at
time of annuitization for reinsurance claims settlement shall be equal to
the fixed annuity purchase rate that the Cedent would provide to an
annuitant in the same class.
Annuity form:
1. Individual Basis: Limited to a Life Annuity with a Period Certain The
number of years of Period Certain is as defined below:
Age at Annuitization Period Certain Years
-------------------- --------------------
Up to 79 10
80 9
81 8
82 7
83 6
84-85 5
2. Joint Basis: Limited to a Joint and 100% Survivor Annuity with 10-Year
Period Certain
(ii) The Guaranteed Principal Adjustment if the Income Benefit contains a
Guaranteed Principal Option or 0 otherwise.
3. The following paragraph amends and, as amended, restates paragraph A
of Article VII, Settlement of Claims:
A. GMIB: The Reinsurer shall indemnify the Cedent under this
Agreement only for benefit claims that the Cedent paid as
contractually required under a Reinsured Contract on or after the
expiration of the waiting period and upon exercise of benefits
under the terms of the Income Program where such events occur, on
the policies reinsured hereunder, on or after the Effective Date.
4. The following paragraph amends and, as amended, restates paragraph C
of Article VII, Settlement of Claims:
C. GMIB: Within thirty (30) days of the end of each calendar month,
the Cedent shall notify the Reinsurer of the ceded contractual
Income Program benefits paid in respect of Reinsured Contracts in
that month, based on the definition set forth in Article IV, and
the Reinsurer shall indemnify the Cedent as provided in Article
VI for the ceded benefits.
5. The following paragraph amends and, as amended, restates paragraph D
of Schedule A, Plans of Reinsurance:
D. GMIB (Contractual Income Program Benefit) Ceded:
Income Benefit Base (IBB)
-------------------------
Version 1 - Greater of an Annual Ratchet to attained age 80 and a 6% Rollup to
attained age 80; frozen thereafter. The IBB is reduced proportionately for
withdrawals.
Version 2 - Greater of an Annual Ratchet to attained age 80 and a 5% Rollup to
attained age 80; frozen thereafter. The IBB is reduced proportionately for
withdrawals.
Version 3 - Greater of an Annual Ratchet to attained age 80 and a 5% Rollup to
attained age 80; frozen thereafter. The IBB is reduced proportionately for
withdrawals.
Waiting Period
--------------
Contractholders can elect to annuitize under the Income Program thirty (30) days
prior to their tenth (10th) or later contract anniversary and also under one of
the life annuity forms stated in Article IV.
Annuitization
--------------
Annuitization under the Income Program means that the annuitant is receiving
guaranteed fixed income payments based on the IBB and the MAPR under one of the
life annuity forms shown below under Paragraph E.
Guaranteed Principal Option
---------------------------
Under version III, Contractholders can exercise the Guaranteed Principal Option
thirty (30) days following their tenth (10th) or later contract anniversary in
lieu of electing income payments based on the IBB.
Income Program Rider Election
-----------------------------
The contractholder can only elect the Income Program Rider at issue. Once
election is made, it is irrevocable.
Income Program Rider Cancellation
---------------------------------
The contractholder of the annuity can not cancel the Income Program rider at any
time.
Step-up or Reset Of IBB
-----------------------
The 5% Rollup amount can be reset for version III within 30 days prior to any
anniversary but not sooner than three years following issue or any previous
optional reset. Not Available for versions I and II.
6. The following paragraph amends and, as amended, restates paragraph B
of Exhibit II, Reinsured Premiums:
B. Income Program
REINSURANCE PREMIUM
INCOME PROGRAM PRODUCTS COVERED (BASIS POINTS)
-------------------- ----------------------------------- -------------------
Income Program Rider All Products sold prior to 35.00
February 15, 2003
Income Program Rider All Products sold after April 30, 45.00
2003 and before May 1, 2005 if GMDB
program is Annual Step or Max of
Annual Step and Rollup
Income Program Rider All other Products sold after 50.00
February 14, 2003 and before
May 1, 2005
Income Program Rider All Version I and Version II 50.00
Products sold after April 30, 2005
Income Program Rider All Version III Plus Products 75.00
sold after April 30, 2005
This Amendment No. 1 does not alter, amend or modify the Agreement other than as
set forth herein, and the terms and conditions of the Agreement, as amended
herein, continue in effect without other change.
In Witness whereof, the parties have caused this Amendment No. 1 to be signed in
duplicate counterparts as of the date first above written.
METLIFE INVESTORS USA INSURANCE COMPANY
By: /s/ Xxxxxxx X. Xxxxxxx
-------------------------------------
Title: Executive Vice President
EXETER REASSURANCE COMPANY, LTD.
By: /s/ RBB
-------------------------------------
Title: Chairman
AMENDMENT NO. 2 TO
AUTOMATIC REINSURANCE AGREEMENT
EFFECTIVE AS OF APRIL 1, 2001
AMENDED AND RESTATED AS OF JULY 1, 2004
(Agreement)
between
METLIFE INVESTORS USA INSURANCE COMPANY
(Cedent)
and
EXETER REASSURANCE COMPANY, LTD.
(Reinsurer)
The Agreement is hereby amended, as of November 1, 2005, as follows:
1. The attached Article I, Scope of Agreement, amends and, as amended,
restates Article I, Scope of Agreement.
2. The attached Article IV, Net Amount at Risk, amends and, as amended,
restates Article IV, Net Amount at Risk.
3. The attached Article V, Reinsurance Premiums, amends and, as amended,
restates Article V, Reinsurance Premiums.
4. The attached Article VII, Settlement of Claims, amends and, as
amended, restates Article VII, Settlement of Claims.
5. The attached Schedule A, Plans of Reinsurance, amends and, as amended,
restates Schedule A, Plans of Reinsurance.
6. The attached Exhibit II, Reinsurance Premiums, amends and, as amended,
restates Exhibit II, Reinsurance Premiums.
This Amendment No. 2 does not alter, amend or modify the Agreement other than as
set forth herein, and the terms and conditions of the Agreement, as amended
herein, continue in effect without other change.
In Witness whereof, the parties have caused this Amendment No. 2 to be signed in
duplicate counterparts as of the date first above written.
METLIFE INVESTORS USA INSURANCE COMPANY
By: /s/ Xxxxxxx X. Xxxxxxx
-------------------------------------
Title: Executive Vice President
EXETER REASSURANCE COMPANY, LTD.
By: /s/ RBB
-------------------------------------
Title: Chairman
ARTICLE I
SCOPE OF AGREEMENT
A. This Agreement shall be effective as of April 1, 2001 (the "Effective
Date") and amended and restated as of July 1, 2004 as described in
Schedule A. While this Agreement continues in effect, the Cedent shall cede
and the Reinsurer shall accept, as indemnity cessions hereunder, Reinsured
Contracts that are issued by the Cedent on and after April 1, 2001.
B. Ceded Liabilities
1. Guaranteed Minimum Death Benefit and Earnings Preservation Benefit
The indemnity cession shall be the share of the MNAR (defined in
Article IV) that is generated, prior to the termination of the
Reinsurer's liability (defined in Article II), by the Guaranteed
Minimum Death Benefit ("GMDB") and Earnings Preservation Benefit
("EPB") provisions of the Reinsured Contracts, as specified in
Schedule A.
2. Guaranteed Minimum Income Benefit
The indemnity cession shall be the share of the IBNAR (defined in
Article IV) that is generated prior to the termination of the
Reinsurer's liability (defined in Article II), by the Guaranteed
Minimum Income Benefit Rider (the "Income Program") provisions of the
Reinsured Contracts, as specified in Schedule A.
3. Guaranteed Withdrawal Benefit
The indemnity cession shall be the share of the WBNAR (defined in
Article IV) that is generated prior to the termination of the
Reinsurer's liability (defined in Article II), by the Guaranteed
Withdrawal Benefit Rider (the "Withdrawal Program") provisions of the
Reinsured Contracts, as specified in Schedule A.
4. Guaranteed Minimum Accumulation Benefit
The indemnity cession shall be the share of the ABNAR (defined in
Article IV) that is generated prior to termination of the Reinsurer's
liability (defined in Article II) by the Guaranteed Minimum
Accumulation Benefit Rider (the "Accumulation" program) provisions of
the Reinsured Contracts, as specified in Schedule A.
C. This Agreement covers only the Cedent's contractual liability for reinsured
claims paid under variable annuity contract forms specified in Schedule A.
D. There are no aggregate or individual claim limits applicable to the
benefits ceded.
E. Spousal Continuances will be covered under this Agreement to the extent
provided by the insured contract.
ARTICLE IV
NET AMOUNT AT RISK
GMDB AND EPB
------------
A. The MNAR (Mortality Net Amount at Risk) for each variable annuity contract
ceded hereunder shall be equal to the following:
MNAR = VNAR + SCNAR + EEMNAR
in which:
VNAR (Variable Net Amount at Risk) = Maximum (a, b) multiplied by the
Reinsurer's Percentage (defined in Schedule A) in which:
a = (Contractual Death Benefit - Account Value) and
b = 0
SCNAR (Surrender Charge Net Amount at Risk) = Surrender Charges multiplied
by the Reinsurer's Percentage
EEMNAR (Earnings Enhancement Mortality Net Amount at Risk) = x% * Maximum
(a, b) multiplied by the Reinsurer's Percentage where:
x% varies by issue age and is as described in the Reinsurance
Contracts specified in Schedule A
a = (Contractual Death Benefit - Total Purchase Payments Not
Withdrawn)
b = 0
B. The death benefit and the surrender charges will be as described in the
variable annuity contract forms specified in Schedule A.
GMIB
----
C. The IBNAR (Income Benefit Net Amount at Risk) for each variable annuity
contract ceded hereunder shall be equal to the following:
(i) The Guaranteed Principal Adjustment as defined in the rider *
Reinsurer's Percentage if the Income Benefit contains a Guaranteed
Principal Option and the option is exercised; or
(ii) IBNAR = Maximum [(IBB * (MAPR/SAPR) - Account Value), 0] * Reinsurer's
Percentage
where:
. IBB equals the INCOME BASE as defined in the rider;
. MAPR is the MINIMUM ANNUITY PURCHASE RATE from the GMIB Annuity Table
defined in the rider; and
. SAPR is the SETTLEMENT ANNUITY PURCHASE RATE per $1000 which is used
at time of annuitization for reinsurance claims settlement and shall
be equal to the fixed annuity purchase rate that the Cedent would
provide to an annuitant in the same class.
D. Premium taxes will be applied on a consistent basis between the MAPR and
SAPR to calculate the IBNAR.
E. The IBNAR for each contract ceded hereunder shall be calculated as of the
last day of each calendar month prior to the termination of liability
contingencies set forth in Article II.
GWB
---
F. The WBNAR (Withdrawal Benefit Net Amount at Risk) for each variable annuity
contract ceded hereunder shall be equal to the following:
WBNAR = Maximum [(GWB Benefit Base - Account Value), 0] * Reinsurer's
Percentage (defined in Schedule A).
A claim is incurred when the Account Value equals zero and is paid out in
installments consistent with the reinsured contract.
GMAB
----
G. The ABNAR (Accumulation Benefit Net Amount at Risk) for each variable
annuity contract ceded hereunder shall be equal to the following:
ABNAR = Maximum [(GMAB Guaranteed Accumulation Amount - Account Value),0] *
Reinsurer's Percentage.
A claim is incurred at the maturity date of the GMAB rider if the GMAB
Guaranteed Accumulation Amount exceeds the Account Value.
ARTICLE V
REINSURANCE PREMIUMS
A. The Cedent shall pay the Reinsurer an Initial Reinsurance Premium equal to
$10,893,915.
B. The total Reinsurance Premium for the business ceded hereunder is the sum
of the GMDB Reinsurance Premium, the EPB Reinsurance Premium, the GMIB
Reinsurance Premium, the GWB Reinsurance Premium, and the GMAB Reinsurance
Premium, each of which is defined separately in this article.
C. The Reinsurance Premium rates and structure described above are subject to
change in accordance with the criteria described in Article XV.
D. The Reinsurance Premium rates are expressed in terms of basis points and
are defined in Exhibit II.
GMDB Reinsurance Premium
------------------------
E. The Cedent shall calculate, for each premium class, the Reinsurer's
Percentage of the average aggregate separate account value for the
reporting month. This value shall be applied to the GMDB Reinsurance
Premium rates per premium class on a 1/12th basis.
EPB Reinsurance Premium
------------------------
F. The Cedent shall calculate the Reinsurer's Percentage of the average
aggregate separate account value for the reporting month. This value shall
be applied to the annualized EPB reinsurance premium rates per premium
class on a 1/12th basis.
GMIB Reinsurance Premium
------------------------
G. The Cedent shall calculate, for each premium class, the Reinsurer's
Percentage of the average aggregate IBB value for the reporting month. This
value shall be applied to the annualized GMIB cession premium rates on a
1/12th basis.
GWB Reinsurance Premium
------------------------
H. The Cedent shall calculate the Reinsurer's Percentage of the Guaranteed
Withdrawal Amount for the reporting month. This value shall be applied to
the annualized GWB Reinsurance Premium rates per premium class on a 1/12th
basis.
GMAB Reinsurance Premium
------------------------
I. For the PEP product, the Cedent shall calculate for the reporting month the
Reinsurer's Percentage of the average aggregate separate account value.
This value shall be applied to the annualized GMAB cession premium rates on
a 1/12th basis.
J. For other products, the Cedent shall calculate for the reporting month the
Reinsurer's Percentage of the Guaranteed Accumulation Amount. This value
shall be applied to the annualized GMAB cession premium rates on a 1/12th
basis.
ARTICLE VII
SETTLEMENT OF CLAIMS
A. The Reinsurer shall indemnify the Cedent under this Agreement only for
benefit claims that the Cedent paid as contractually required under a
Reinsured Contract with respect to claims that occur on or after the
Effective Date.
For GMIB, the Reinsurer shall indemnify the Cedent under this Agreement
only for benefit claims that the Cedent paid as contractually required
under a Reinsured Contract upon exercise of benefits under the terms of the
Income Program where such events occur on or after the Effective Date.
B. In the event that the Cedent provides satisfactory proof of claim liability
to the Reinsurer, benefit claim settlements made by a Cedent and accepted
by the Reinsurer shall be unconditionally binding on the Reinsurer. The
Cedent shall report all approved benefit claims in bordereau including
cause of death, as available, in such format as may be agreed to from time
to time.
C. Within thirty (30) days after the end of each calendar month, the Cedent
shall notify the Reinsurer of the ceded contractual benefit claims paid in
respect of Reinsured Contracts in that month, based on the definition, set
forth in Article IV, and the Reinsurer shall indemnify the Cedent as
provided in Article VI for the ceded benefit claim liabilities.
D. In no event will the Reinsurer be liable for expense incurred in connection
with a dispute or contest arising out of conflicting or any other claims of
entitlement to Reinsured Contract proceeds or benefits.
SCHEDULE A
PLANS OF REINSURANCE
A. Reinsurer's Percentage:
Prior to July 1, 2004, 25% of the business described herein.
Effective, July 1, 2004, 100% of the business described herein.
B. Effective Date:
April 1, 2001
C. Reinsured Contracts:
METLIFE INVESTORS USA INSURANCE COMPANY
DEFERRED ANNUITY CONTRACTS
--------------------------
VA Series Contract (Standard Contract, 7-year surrender charge schedule)
XC Series Contract (Bonus Contract, 9-year surrender charge schedule)
L Series Contract (3-year surrender charge schedule)
C Series Contract (No surrender charges)
Vintage VA (Standard Contract, 7-year surrender charge schedule)
Vintage XC (Bonus Contract, 9-year surrender charge schedule)
Vintage L (4-year surrender charge schedule)
Marquis Portfolios (No surrender charges)
USA PEP (10-year surrender charge schedule)
PrimElite III (8-year surrender charge schedule)
FORM NUMBERS
------------
Guaranteed Minimum Death Benefits Ceded:
----------------------------------------
Standard Death Benefit - Principal Protection: Form 8015 (11/00)
Optional Death Benefit - Annual Step-Up: Form 8017 (11/00)
Optional Death Benefit - Greater of Annual Step-Up and 5% Rollup:
Form 8016(11/00)
Additional Death Benefit - Earnings Preservation Benefit (EPB):
Form 8019 (11/00)
Guaranteed Minimum Income Benefits Ceded:
-----------------------------------------
Guaranteed Minimum Income Benefit: Form 8018 (11/00)
Guaranteed Minimum Income Benefit II: Form 8018-1 (03/03)
Guaranteed Minimum Income Benefit Plus: Form 8018-2 (05/05)
Guaranteed Withdrawal Benefits Ceded:
-------------------------------------
Guaranteed Withdrawal Benefit: Form MLIU-690-1 (7/04)
Guaranteed Withdrawal Benefit: Form MLIU-690-2 (11/05)
Guaranteed Minimum Accumulation Benefits Ceded:
-----------------------------------------------
Guaranteed Minimum Accumulation Benefit: Form MLIU 670-1 (11/05)
EXHIBIT II
REINSURANCE PREMIUMS
A. GMDB PROGRAM
REINSURANCE PREMIUM
GMDB PROGRAM PRODUCTS COVERED (BASIS POINTS)
----------------------------- ----------------------------------- -------------------
Principal Protection All Products 9.00
Annual Step-Up Plan Codes: BN2201, BN22ML, CS5201, 10.00
CS520R, CS52ML, CS52MR, LS4201,
LS420R, LS42ML, LS42MR, ST1201,
ST120R, ST120X, ST12ML, and ST12MR
Annual Step-Up Other Plan Codes 20.00
Greater of Annual Step-Up and Plan Codes: BN2201, BN22ML, CS5201, 25.00
5% Rollup CS520R, CS52ML, CS52MR, LS4201,
LS420R, LS42ML, LS42MR, ST1201,
ST120R, ST120X, ST12ML, and ST12MR
Greater of Annual Step-Up and Other Plan Codes 35.00
5% Rollup
Earnings Preservation Benefit All Products 25.00
B. INCOME PROGRAM
REINSURANCE
PREMIUM (BASIS
INCOME PROGRAM PRODUCTS COVERED POINTS)
---------------- ------------------------------------------- --------------
GMIB All Products sold prior to February 35.00
15,2003
GMIB and GMIB II Plan codes BN2203, BN22M3, CS5203, CS52M3, 45.00
CS52R3, CS53MR, LS4203, LS4204, LS42M3,
LS42R3, LS42R4, XX00XX, XX0000, XX00X0,
XX00X0, XX00X0, and ST13MR sold after April
30, 2003 and before May 1, 2005 if GMDB
program is Annual Step-Up or Greater of
Annual Step-Up and 5% Rollup
GMIB and GMIB II All other Products sold after February 14, 50.00
2003 and before May 1, 2005 and for All
Products sold after April 30,2005
GMIB Plus All Products sold after 75.00
April 30, 2005
C. WITHDRAWAL PROGRAM
REINSURANCE PREMIUM
WITHDRAWAL PROGRAM PRODUCTS COVERED (BASIS POINTS)
----------------------------- ---------------- -------------------
Guaranteed Withdrawal Benefit All Products 50.00
Principal Guarantee All Products 50.00
Principal Guarantee Value All Products 25.00
D. ACCUMULATION PROGRAM
REINSURANCE PREMIUM
ACCUMULATION PROGRAM PRODUCTS COVERED (BASIS POINTS)
------------------------------- ------------------ -------------------
Guaranteed Accumulation Benefit PEP Product 150.00
Guaranteed Accumulation Benefit All Other Products 75.00
AMENDMENT NO. 3 TO
AUTOMATIC REINSURANCE AGREEMENT
EFFECTIVE AS OF APRIL 1, 2001
AMENDED AND RESTATED AS OF JULY 1, 2004
(Agreement)
between
METLIFE INVESTORS USA INSURANCE COMPANY
(Cedent)
and
EXETER REASSURANCE COMPANY, LTD.
(Reinsurer)
The Agreement is hereby amended, as of June 12, 2006, as follows:
1. Article IV, Net Amount at Risk, Paragraph F, GWB, is revised and
amended as follows:
F. The WBNAR (Withdrawal Benefit Net Amount at Risk) for each variable
annuity contract ceded hereunder shall be equal to the following:
Guaranteed Withdrawal Benefit, Principal Guarantee and Principal
Guarantee Value:
WBNAR = Maximum [(GWB Benefit Base - Account Value), 0] * Reinsurer's
Percentage (defined in Schedule A).
Lifetime Guaranteed Withdrawal Benefit:
WBNAR = Maximum [(Remaining Guaranteed Withdrawal Amount - Account
Value), 0] * Reinsurer's Percentage (defined in Schedule A) + Present
Value of any additional Lifetime Payments * Reinsurer's Percentage
A claim is incurred when the Account Value equals zero and is paid out
in installments consistent with the reinsured contract.
2. Article V, Reinsurance Premiums, Paragraph H, GWB Reinsurance Premium,
is revised and amended as follows:
H. The Cedent shall calculate the Reinsurer's Percentage of the
Guaranteed Withdrawal Amount (Total Guaranteed Withdrawal Amount for
Lifetime GWB) for the reporting month. This value shall be applied to
the annualized GWB Reinsurance Premium rates per premium class on a
1/12th basis.
3. The attached Schedule A, Plans of Reinsurance, amends and, as amended,
restates Schedule A, Plans of Reinsurance.
4. Exhibit II, Reinsurance Premiums, Paragraph C, Withdrawal Program, is
revised and amended as follows:
C. WITHDRAWAL PROGRAM
REINSURANCE PREMIUM
WITHDRAWAL PROGRAM PRODUCTS COVERED (BASIS POINTS)
---------------------------------- ---------------- -------------------
Guaranteed Withdrawal Benefit All Products 50.00
Principal Guarantee All Products 50.00
Principal Guarantee Value All Products 25.00
Lifetime GWB - Single Life Version All Products 50.00
Lifetime GWB - Joint Life All Products 70.00
Version
This Amendment No. 3 does not alter, amend or modify the Agreement other than as
set forth herein, and the terms and conditions of the Agreement, as amended
herein, continue in effect without other change.
In Witness whereof, the parties have caused this Amendment No. 3 to be signed in
duplicate counterparts as of the date first above written.
METLIFE INVESTORS USA INSURANCE COMPANY
By: /s/ Xxxxxxx X. Xxxxxxx
-------------------------------------
Title: Executive Vice President
EXETER REASSURANCE COMPANY, LTD.
By: /s/ RBB
-------------------------------------
Title: President
SCHEDULE A
PLANS OF REINSURANCE
A. Reinsurer's Percentage:
Prior to July 1, 2004, 25% of the business described herein.
Effective, July 1, 2004, 100% of the business described herein.
B. Effective Date:
April 1, 2001
C. Reinsured Contracts:
METLIFE INVESTORS USA INSURANCE COMPANY
DEFERRED ANNUITY CONTRACTS
--------------------------
VA Series Contract (Standard Contract, 7-year surrender charge schedule)
XC Series Contract (Bonus Contract, 9-year surrender charge schedule)
L Series Contract (3-year surrender charge schedule)
C Series Contract (No surrender charges)
Vintage VA (Standard Contract, 7-year surrender charge schedule)
Vintage XC (Bonus Contract, 9-year surrender charge schedule)
Vintage L (4-year surrender charge schedule)
Marquis Portfolios (No surrender charges)
USA PEP (10-year surrender charge schedule)
PrimElite III (8-year surrender charge schedule)
FORM NUMBERS
------------
Guaranteed Minimum Death Benefits Ceded:
----------------------------------------
Standard Death Benefit - Principal Protection: Form 8015 (11/00)
Optional Death Benefit - Annual Step-Up: Form 8017 (11/00)
Optional Death Benefit - Greater of Annual Step-Up and 5% Rollup: Form
8016(11/00)
Additional Death Benefit - Earnings Preservation Benefit (EPB): Form
8019 (11/00)
Guaranteed Minimum Income Benefits Ceded:
-----------------------------------------
Guaranteed Minimum Income Benefit: Form 8018 (11/00)
Guaranteed Minimum Income Benefit II: Form 8018-1 (03/03)
Guaranteed Minimum Income Benefit Plus: Form 8018-2 (05/05)
Guaranteed Withdrawal Benefits Ceded:
-------------------------------------
Guaranteed Withdrawal Benefit: Form MLIU-690-1 (7/04)
Guaranteed Withdrawal Benefit: Form MLIU-690-2 (11/05)
Lifetime Guaranteed Withdrawal Benefit: Form MLIU-690-3 (6/06)
Guaranteed Minimum Accumulation Benefits Ceded:
-----------------------------------------------
Guaranteed Minimum Accumulation Benefit: Form MLIU 670-1 (11/05)
AMENDMENT NO. 4 TO
AUTOMATIC REINSURANCE AGREEMENT
EFFECTIVE AS OF APRIL 1, 2001
AMENDED AND RESTATED AS OF JULY 1, 2004
(Agreement)
between
METLIFE INVESTORS USA INSURANCE COMPANY
(Cedent)
and
EXETER REASSURANCE COMPANY, LTD.
(Reinsurer)
The Agreement is hereby amended as follows:
1. Effective May 1, 2007, the attached Schedule A, Plans of Reinsurance,
amends and, as amended, restates Schedule A, Plans of Reinsurance.
2. Effective February 26, 2007, the attached Exhibit II, Reinsurance
Premiums, amends and, as amended, restates Exhibit II, Reinsurance
Premiums.
This Amendment No. 4 does not alter, amend or modify the Agreement other than as
set forth herein, and the terms and conditions of the Agreement, as amended
herein, continue in effect without other change.
In Witness whereof, the parties have caused this Amendment No. 4 to be signed in
duplicate counterparts as of the date first above written.
METLIFE INVESTORS USA INSURANCE COMPANY
By: /s/ [Illegible Signature]
-------------------------------------
Title: V P
EXETER REASSURANCE COMPANY, LTD.
By: /s/ RBB
-------------------------------------
Title: President
SCHEDULE A
PLANS OF REINSURANCE
A. Reinsurer's Percentage:
Prior to July 1, 2004, 25% of the business described herein.
Effective, July 1, 2004, 100% of the business described herein.
B. Effective Date:
April, 2001
C. Reinsured Contracts:
METLIFE INVESTORS USA INSURANCE COMPANY
DEFERRED ANNUITY CONTRACTS
--------------------------
VA Series Contract (Standard Contract, 7-year surrender charge schedule)
XC Series Contract (Bonus Contract, 9-year surrender charge schedule)
L Series Contract (3-year surrender charge schedule)
C Series Contract (No surrender charges)
S Series Contract (Standard and L Series)
Vintage VA (Standard Contract, 7-year surrender charge schedule)
Vintage XC (Bonus Contract, 9-year surrender charge schedule)
Vintage L (4-year surrender charge schedule)
Marquis Portfolios (No surrender charges)
USA PEP (10-year surrender charge schedule)
PrimElite III (8-year surrender charge schedule)
PrimElite IV (8-year surrender charge schedule)
FORM NUMBERS
------------
Guaranteed Minimum Death Benefits Ceded:
----------------------------------------
Standard Death Benefit - Principal Protection: Form 8015 (11/00)
Optional Death Benefit - Annual Step-Up: Form 8017 (11/00)
Optional Death Benefit - Greater of Annual Step-Up and 5% Rollup: Form
8016 (11/00)
Additional Death Benefit - Earnings Preservation Benefit (EPB): Form
8019 (11/00)
Guaranteed Minimum Income Benefits Ceded:
-----------------------------------------
Guaranteed Minimum Income Benefit: Form 8018 (11/00)
Guaranteed Minimum Income Benefit II: Form 8018-1 (03/03)
Guaranteed Minimum Income Benefit Plus: Form 8018-2 (05/05)
Guaranteed Withdrawal Benefits Ceded:
-------------------------------------
Guaranteed Withdrawal Benefit: Form MLIU-690-1 (7/04)
Guaranteed Withdrawal Benefit: Form MLIU-690-2 (11/05)
Lifetime Guaranteed Withdrawal Benefit: Form MLIU-690-3 (6/06)
Guaranteed Minimum Accumulation Benefits Ceded:
-----------------------------------------------
Guaranteed Minimum Accumulation Benefit: Form MLIU 670-1 (11/05)
EXHIBIT II
REINSURANCE PREMIUMS
A. GMDB PROGRAM
REINSURANCE PREMIUM
GMDB PROGRAM PRODUCTS COVERED (BASIS POINTS)
-------------------------- --------------------------- ---------------------
Principal Protection All Products 9.00
Annual Step-Up Plan Codes: BN2201, BN22ML, 10.00
CS5201, CS520R, CS52ML,
CS52MR, LS4201, LS420R,
LS42ML, LS42MR, ST1201,
ST120R, ST120X, ST12ML,
and ST12MR
Annual Step-Up Other Plan Codes 20.00
Greater of Annual Step-Up Plan Codes: BN2201, 25.00
and 5% Rollup BN22ML, CS5201, CS520R,
CS52ML, CS52MR, LS4201,
LS420R, LS42ML, LS42MR,
ST1201, ST120R, ST120X,
ST12ML, and ST12MR
Greater of Annual Step-Up Other Plan Codes 35.00
and 5% Rollup
Earnings Preservation All Products 25.00
Benefit
B. INCOME PROGRAM
REINSURANCE PREMIUM
INCOME PROGRAM PRODUCTS COVERED (BASIS POINTS)
-------------------------- --------------------------- ---------------------
GMIB All Products sold prior to 35
February 15, 2003
GMIB and GMIB II Plan codes BN2203, BN22M3, 45
CS5203, CS52M3, CS52R3,
CS53MR, LS4203, LS4204,
LS42M3, LS42R3, LS42R4,
XX00XX, XX0000, XX00X0,
XX00X0, XX00X0, and ST13MR
sold after April 30, 2003
and before May 1, 2005 if
GMDB program is Annual
Step-Up or Greater of
Annual Step-Up and
5% Rollup
GMIB and GMIB II All other Products sold 50
after February 14,
2003 and before May 1, 2005
and for All Products sold
after April 30, 2005
GMIB Plus All Products sold after 75
April 30, 2005 and before
February 26, 2007.
GMIB Plus All Products, except 80
Marquis Portfolio, sold on
or after February 26, 2007.
GMIB Plus Marquis Portfolio sold on 95
or after May 1, 2007
C. WITHDRAWAL PROGRAM
REINSURANCE PREMIUM
WITHDRAWAL PROGRAM PRODUCTS COVERED (BASIS POINTS)
-------------------------- --------------------------- ---------------------
Guaranteed Withdrawal All Products 50
Benefit
Principal Guarantee All Products 50
Principal Guarantee Value All Products 25
Lifetime GWB - Single Life All Products, except 50
Version Marquis Portfolio
Lifetime GWB - Single Life Marquis Portfolios 70
Version
Lifetime GWB - Joint Life All Products, except 70
Version Marquis Portfolio
Lifetime GWB - Joint Life Marquis Portfolios 90
Version
D. ACCUMULATION PROGRAM
REINSURANCE PREMIUM
ACCUMULATION PROGRAM PRODUCTS COVERED (BASIS POINTS)
-------------------------- --------------------------- ---------------------
Guaranteed Accumulation
Benefit PEP Product 150.00
Guaranteed Accumulation
Benefit All Other Products 75.00
AMENDMENT NO. 5 TO
AUTOMATIC REINSURANCE AGREEMENT
EFFECTIVE AS OF APRIL 1, 2001
AMENDED AND RESTATED AS OF JULY 1, 2004
(Agreement)
between
METLIFE INVESTORS USA INSURANCE COMPANY
(Cedent)
and
EXETER REASSURANCE COMPANY, LTD.
(Reinsurer)
The Agreement is hereby amended as follows:
1. Effective June 1, 2007, the attached Exhibit II, Reinsurance Premiums,
amends and, as amended, restates Exhibit II, Reinsurance Premiums.
This Amendment No. 5 does not alter, amend or modify the Agreement other than as
set forth herein, and the terms and conditions of the Agreement, as amended
herein, continue in effect without other change.
In Witness whereof, the parties have caused this Amendment No. 5 to be signed in
duplicate counterparts as of the date first above written.
METLIFE INVESTORS USA INSURANCE COMPANY
By: /s/ Xxxxxxx X. Xxxxxxx
-------------------------------------
Title: Vice President
EXETER REASSURANCE COMPANY, LTD.
By: /s/ RBB
-------------------------------------
Title: President
EXHIBIT II
REINSURANCE PREMIUMS
A. GMDB PROGRAM
REINSURANCE PREMIUM
GMDB PROGRAM PRODUCTS COVERED (BASIS POINTS)
------------------------------- ------------------------------------------------ -------------------
Principal Protection All Products 9.00
Annual Step-Up Plan Codes: BN2201, BN22ML, CS5201, 10.00
CS520R, CS52ML, CS52MR, LS4201,
LS420R, LS42ML, LS42MR, ST1201,
ST120R, ST120X, ST12ML, and ST12MR
Annual Step-Up Other Plan Codes 20.00
Greater of Annual Step-Up and Plan Codes: BN2201, BN22ML, CS5201, 25.00
5% Rollup CS520R, CS52ML, CS52MR, LS4201,
LS420R, LS42ML, LS42MR, ST1201,
ST120R, ST120X, ST12ML, and ST12MR
Greater of Annual Step-Up and Other Plan Codes 35.00
5% Rollup
Earnings Preservation All Products 25.00
Benefit
B. INCOME PROGRAM
REINSURANCE PREMIUM
INCOME PROGRAM PRODUCTS COVERED (BASIS POINTS)
------------------------------- ------------------------------------------------ -------------------
GMIB All Products sold prior to February 15, 2003 35
GMIB and GMIB II Plan codes BN2203, BN22M3, CS5203, CS52M3, 45
CS52R3, CS53MR, LS4203, LS4204, LS42M3, LS42R3,
LS42R4, XX00XX, XX0000, XX00X0, XX00X0, XX00X0,
and ST13MR sold after April 30, 2003 and before
May 1, 2005 if GMDB program is Annual Step-Up or
Greater of Annual Step-Up and 5% Rollup
GMIB and GMIB II All other Products sold after February 14, 50
2003 and before May 1, 2005 and for All
Products sold after April 30,2005
GMIB Plus All Products sold after April 30, 2005 and 75
before February 26, 2007.
GMIB Plus All Products, except Marquis Portfolio, sold on 80
or after February 26, 2007.
GMIB Plus Marquis Portfolio sold on or after May 1, 2007 95
C. WITHDRAWAL PROGRAM
REINSURANCE PREMIUM
WITHDRAWAL PROGRAM PRODUCTS COVERED (BASIS POINTS)
------------------------------- ------------------------------------------------ -------------------
Guaranteed Withdrawal Benefit All Products 50
Principal Guarantee All Products 50
Principal Guarantee Value All Products 25
Lifetime GWB - Single Life All Products, except Marquis Portfolio and 50
Version Prim Elite IV
Lifetime GWB - Single Life PrimElite IV 65
Version
Lifetime GWB - Single Life Marquis Portfolios 70
Version
Lifetime GWB - Joint Life All Products, except Marquis Portfolio and 70
Version Prim Elite IV
Lifetime GWB - Joint Life PrimElite IV 85
Version
Lifetime GWB - Joint Life Marquis Portfolios 90
Version
D. ACCUMULATION PROGRAM
REINSURANCE PREMIUM
ACCUMULATION PROGRAM PRODUCTS COVERED (BASIS POINTS)
------------------------------- ------------------------------------------------ -------------------
Guaranteed Accumulation Benefit PEP PRODUCT 150.00
Guaranteed Accumulation Benefit All OTHER PRODUCTS 75.00
AMENDMENT NO. 6 TO
AUTOMATIC REINSURANCE AGREEMENT
EFFECTIVE AS OF APRIL 1, 2001
AMENDED AND RESTATED AS OF JULY 1, 2004
(Agreement)
between
METLIFE INVESTORS USA INSURANCE COMPANY
(Cedent)
and
EXETER REASSURANCE COMPANY, LTD.
(Reinsurer)
The Agreement is hereby amended, as of June 30, 2007, to change the benefit
reimbursement pattern for the GMIB (Guaranteed Minimum Income Benefit) rider.
Therefore, the IBNARP (Income Benefit Net Amount At Risk Percentage) is defined
in Article IV, and Article I and VII, as well as Schedule B, are updated to
reflect this change:
1. The attached Article I, Scope of Agreement, amends and, as amended,
restates Article I, Scope of Agreement.
2. The attached Article IV, Net Amount at Risk, amends and, as amended,
restates Article IV, Net Amount at Risk.
3. The attached Article VII, Settlement of Claims, amends and, as
amended, restates Article VII, Settlement of Claims.
4. The attached Schedule B, Required Data and Suggested Data Layout,
amends and, as amended, restates Schedule B, Required Data and
Suggested Data Layout.
This Amendment No. 6 does not alter, amend or modify the Agreement other than as
set forth herein, and the terms and conditions of the Agreement, as amended
herein, continue in effect without other change.
In Witness whereof, the parties have caused this Amendment No. 6 to be signed in
duplicate counterparts as of the date first above written.
METLIFE INVESTORS USA INSURANCE COMPANY
By: /s/ Xxxxxxx X. Xxxxxxx
-------------------------------------
Title: Vice President
EXETER REASSURANCE COMPANY, LTD.
By: /s/ RBB
-------------------------------------
Title: President
ARTICLE I
SCOPE OF AGREEMENT
A. This Agreement shall be effective as of April 1, 2001 (the "Effective
Date") and amended and restated as of July 1, 2004 as described in Schedule
A. While this Agreement continues in effect, the Cedent shall cede and the
Reinsurer shall accept, as indemnity cessions hereunder, Reinsured
Contracts that are issued by the Cedent on and after April 1, 2001.
B. Ceded Liabilities
1. Guaranteed Minimum Death Benefit and Earnings Preservation Benefit
The indemnity cession shall be the share of the MNAR (defined in
Article IV) that is generated, prior to the termination of the
Reinsurer's liability (defined in Article II), by the Guaranteed
Minimum Death Benefit ("GMDB") and Earnings Preservation Benefit
("EPB") provisions of the Reinsured Contracts, as specified in
Schedule A.
2. Guaranteed Minimum Income Benefit
The indemnity cession shall be the share of the annuity payments upon
annuitization that is generated prior to the termination of the
Reinsurer's liability (defined in Article II), by the Guaranteed
Minimum Income Benefit Rider (the "Income Program") provisions of the
Reinsured Contracts, as specified in Schedule A, multiplied by the
IBNARP (defined in Article IV).
3. Guaranteed Withdrawal Benefit
The indemnity cession shall be the share of the WBNAR (defined in
Article IV) that is generated prior to the termination of the
Reinsurer's liability (defined in Article II), by the Guaranteed
Withdrawal Benefit Rider (the "Withdrawal Program") provisions of the
Reinsured Contracts, as specified in Schedule A.
4. Guaranteed Minimum Accumulation Benefit
The indemnity cession shall be the share of the ABNAR (defined in
Article IV) that is generated prior to termination of the Reinsurer's
liability (defined in Article II) by the Guaranteed Minimum
Accumulation Benefit Rider (the "Accumulation" program) provisions of
the Reinsured Contracts, as specified in Schedule A.
C. This Agreement covers only the Cedent's contractual liability for reinsured
claims paid under variable annuity contract forms specified in Schedule A.
D. There are no aggregate or individual claim limits applicable to the
benefits ceded.
E. Spousal Continuances will be covered under this Agreement to the extent
provided by the insured contract.
ARTICLE IV
NET AMOUNT AT RISK
GMDB AND EPB
------------
A. The MNAR (Mortality Net Amount at Risk) for each variable annuity contract
ceded hereunder shall be equal to the following:
MNAR = VNAR + SCNAR + EEMNAR
in which:
VNAR (Variable Net Amount at Risk) = Maximum (a, b) multiplied by the
Reinsurer's Percentage (defined in Schedule A) in which:
a = (Contractual Death Benefit - Account Value) and
b = 0
SCNAR (Surrender Charge Net Amount at Risk) = Surrender Charges multiplied
by the Reinsurer's Percentage
EEMNAR (Earnings Enhancement Mortality Net Amount at Risk) = x% * Maximum
(a, b) multiplied by the Reinsurer's Percentage where:
x% varies by issue age and is as described in the Reinsurance
Contracts specified in Schedule A
a = (Contractual Death Benefit - Total Purchase Payments Not
Withdrawn)
b = 0
B. The death benefit and the surrender charges will be as described in the
variable annuity contract forms specified in Schedule A.
GMIB
----
C. The IBNAR (Income Benefit Net Amount at Risk) for each variable annuity
contract ceded hereunder shall be equal to the following:
(i) The Guaranteed Principal Adjustment as defined in the rider *
Reinsurer's Percentage if the Income Benefit contains a Guaranteed
Principal Option and the option is exercised; or
(ii) IBNAR = Maximum [(IBB * (MAPR/SAPR) - Account Value), 0] * Reinsurer's
Percentage
D. The IBNARP (Income Benefit Net Amount at Risk Percentage) for each variable
annuity contract ceded hereunder shall be equal to the following:
IBNARP = IBNAR / [IBB * (MAPR/SAPR)]
where:
. IBB equals the INCOME BASE as defined in the rider;
. MAPR is the MINIMUM ANNUITY PURCHASE RATE from the GMIB Annuity Table
defined in the rider; and
. SAPR is the SETTLEMENT ANNUITY PURCHASE RATE per $1000 which is used
at time of annuitization for reinsurance claims settlement and shall
be equal to the fixed annuity purchase rate that the Cedent would
provide to an annuitant in the same class.
E. Premium taxes will be applied on a consistent basis between the MAPR and
SAPR to calculate the IBNARP and IBNAR.
F. The IBNARP and IBNAR for each contract ceded hereunder shall be calculated
as of the last day of each calendar month prior to the termination of
liability contingencies set forth in Article II.
GWB
---
G. The WBNAR (Withdrawal Benefit Net Amount at Risk) for each variable annuity
contract ceded hereunder shall be equal to the following:
Guaranteed Withdrawal Benefit, Principal Guarantee and Principal Guarantee
Value:
WBNAR = Maximum [(GWB Benefit Base - Account Value), 0] * Reinsurer's
Percentage (defined in Schedule A).
Lifetime Guaranteed Withdrawal Benefit:
WBNAR = Maximum [(Remaining Guaranteed Withdrawal Amount - Account Value),
0] * Reinsurer's Percentage (defined in Schedule A) + Present Value of any
additional Lifetime Payments * Reinsurer's Percentage
A claim is incurred when the Account Value equals zero and is paid out in
installments consistent with the reinsured contract.
GMAB
----
H. The ABNAR (Accumulation Benefit Net Amount at Risk) for each variable
annuity contract ceded hereunder shall be equal to the following:
ABNAR = Maximum [(GMAB Guaranteed Accumulation Amount - Account Value),0] *
Reinsurer's Percentage.
A claim is incurred at the maturity date of the GMAB rider if the GMAB
Guaranteed Accumulation Amount exceeds the Account Value.
ARTICLE VII
SETTLEMENT OF CLAIMS
A. The Reinsurer shall indemnify the Cedent under this Agreement only for
benefit claims that the Cedent paid as contractually required under a
Reinsured Contract with respect to claims that occur on or after the
Effective Date.
B. In the event that the Cedent provides satisfactory proof of claim liability
to the Reinsurer, benefit claim settlements made by a Cedent and accepted
by the Reinsurer shall be unconditionally binding on the Reinsurer. The
Cedent shall report all approved benefit claims in bordereau including
cause of death, as available, in such format as may be agreed to from time
to time.
C. Within thirty (30) days after the end of each calendar month, the Cedent
shall notify the Reinsurer of the ceded contractual benefit claims paid in
respect of Reinsured Contracts in that month, based on the definition, set
forth in Article IV, and the Reinsurer shall indemnify the Cedent as
provided in Article VI for the ceded benefit claim liabilities.
D. In no event will the Reinsurer be liable for expense incurred in connection
with a dispute or contest arising out of conflicting or any other claims of
entitlement to Reinsured Contract proceeds or benefits.
SCHEDULE B
REQUIRED DATA AND SUGGESTED DATA LAYOUT
(Page 1 of 3)
FIELD DESCRIPTION COMMENTS
----------------- ----------------------------------------------
Annuitant's ID: Last Name
First Name
Middle Name
Sex M or F
Date of Birth YYYYMMDD
Social Security No. / Social Insurance No.
Joint Annuitant's ID: Last Name If Applicable
First Name
Middle Name
Sex M or F
Date of Birth YYYYMMDD
Social Security No. / Social Insurance No.
Owner's ID: Last Name
First Name
Middle Name
Sex M or F
Date of Birth YYYYMMDD
Social Security No. / Social Insurance No.
Joint Owner's ID: Last Name If Applicable
First Name
Middle Name
Sex M or F
Date of Birth YYYYMMDD
Social Security No. / Social Insurance No.
Policy Number
Policy Issue Date YYYYMMDD
Policy Issue Status Nl = True New Issue, SC = Spousal Continuance,
EX= 1035 Exchange
Tax Status Qualified (Q), or Non-qualified (N)
SCHEDULE B
REQUIRED DATA AND SUGGESTED DATA LAYOUT
(PAGE 2 OF 3)
FIELD DESCRIPTION COMMENTS
----------------- ----------------------------------------------------------------------
GMDB/EEB SECTION (If applicable)
--------------------------------
Mortality Risk Definition Indicator AV = VNAR; CV = VNAR + SCNAR
Death Claim Trigger A = Annuitant, O = Owner, 1 = 1st to die, 2 = 2nd to die
(e.g., A2 = payable upon death of second of joint annuitants)
Current Ratchet Value If Applicable
Current Reset Value If Applicable
Current Rollup Value If Applicable
Current Return of Premium Value If Applicable
Minimum Guaranteed Death Benefit
Contract Death Benefit Greater of Account Value and Minimum Guaranteed Death Benefit
Effective Date of the Rider
Account Value as of the Effective Date of the
Rider
Mortality Risk VNAR Max [Contractual Death Benefit - Account Value), 0]
SCNAR Surrender Charge, if applicable
EEMNAR X% of Death Benefit less Net Purchase Payments
Earnings Death Benefit less Net Purchase Payments
Earnings CAP X% of Net Purchase Payments
GMIB SECTION (If applicable)
----------------------------
GMIB Indicator Y = benefit elected, N = benefit not elected, NA = not applicable
Income Benefit Elected 01 = option 1, 02 = option 2, etc.
Expiration of Waiting Period YYYYMMDD
GMIB Annuitization Date YYYYMMDD - actual date
Most Recent GMIB Step-up / Reset Date YYYYMMDD, if applicable
Cancellation Date YYYYMMDD, if applicable
Pricing Cohort Indicator
IBB Amount
GMIB IBNAR Amount Calculated using an individual life annuity form with 10 years certain
Treasury Rate Used in IBNAR calculation
IBNARP
Annuity Payments Upon Annuitization
GWB SECTION (if applicable)
---------------------------
GWB Indicator Y = benefit elected, N = benefit not elected, C = rider cancelled
GWB Election Date YYYYMMDD
Total-GWB-Benefit-Base-Amt
Total-GWB-Guar-Withdrl-Amt
Total-GWB-Xxx-Benefit-Pymnt
Total-GWB-Rem-Ann-Bnft-Pymnt
Tota-GWB-Rider-Charge
GWB-Optn-Reset-Date
Account Value Current total value
Surrender Charge If reinsured
Cumulative Deposits Total premiums
Cumulative Withdrawals Total withdrawals
Net Purchase Payments Total premiums less total withdrawals (proportional adjustment)
Deposits made in quarter of death dollar value
Quota Share ceded percentage
SCHEDULE B
REQUIRED DATA AND SUGGESTED DATA LAYOUT
(PAGE 3 OF 3)
FIELD DESCRIPTION COMMENTS
----------------- ----------------------------------------------------------------------
Fundinq Vehicle Values:
-----------------------
"MorningStar" designations (US)
Aggressive Growth
Balanced
Corporate Bond
Government Bond
Growth
Growth and Income
High Yield Bond
International Bond
International Stock
Money Market
Specialty Fund
Fixed Account
Dollar Cost Averaging
Note: total of funding vehicles should equal account value.
Termination Information:
------------------------
Termination Date YYYYMMDD, If applicable
Reason for Termination Death (D), Annuitization (A), 1035 Exchange (X), GMIB Election (I),
Other (0).
Cause of Death If applicable. Use your Cause of Death code, and provide translation
Summary Information: For reconciliation purposes (may be paper summary)
--------------------
Total number of records Monthly aggregate information by GMIB Design, GMAB Design, and
Pricing Cohort (if applicable)
Total of each dollar field Monthly aggregate information by GMIB Design, GMAB Design, and
Pricing Cohort (if applicable)
Note: All values to nearest dollar
AMENDMENT NO. 7 TO
AUTOMATIC REINSURANCE AGREEMENT
EFFECTIVE AS OF APRIL 1, 2001
AMENDED AND RESTATED AS OF JULY 1, 2004
(Agreement)
between
METLIFE INVESTORS USA INSURANCE COMPANY
(Cedent)
and
EXETER REASSURANCE COMPANY, LTD.
(Reinsurer)
The Agreement is hereby amended, as of July 16, 2007, as follows:
1. The attached Exhibit II, Reinsurance Premiums, amends and, as amended,
restates Exhibit II, Reinsurance Premiums.
This Amendment No. 7 does not alter, amend or modify the Agreement other than as
set forth herein, and the terms and conditions of the Agreement, as amended
herein, continue in effect without other change.
In Witness whereof, the parties have caused this Amendment No. 7 to be signed in
duplicate counterparts as of the date first above written.
METLIFE INVESTORS USA INSURANCE COMPANY
By: /s/ Xxxxxxx X. Xxxxxxx
-------------------------------------
Title: Vice President
EXETER REASSURANCE COMPANY, LTD.
By: /s/ RBB
-------------------------------------
Title: President
EXHIBIT II
REINSURANCE PREMIUMS
A. GMDB PROGRAM
REINSURANCE PREMIUM
GMDB PROGRAM PRODUCTS COVERED (BASIS POINTS)
----------------------------- ----------------------------------- -------------------
Principal Protection All Products 9.00
Annual Step-Up Plan Codes: BN2201, BN22ML, CS5201, 10.00
CS520R, CS52ML, CS52MR, LS4201,
LS420R, LS42ML, LS42MR, ST1201,
ST120R, ST120X, ST12ML, and ST12MR
Annual Step-Up Other Plan Codes 20.00
Greater of Annual Step-Up and Plan Codes: BN2201, BN22ML, CS5201, 25.00
5% Rollup CS520R, CS52ML, CS52MR, LS4201,
LS420R, LS42ML, LS42MR, ST1201,
ST120R, ST120X, ST12ML, and ST12MR
Greater of Annual Step-Up and Other Plan Codes 35.00
5% Rollup
Earnings Preservation Benefit All Products 25.00
B. INCOME PROGRAM
REINSURANCE
PREMIUM (BASIS
INCOME PROGRAM PRODUCTS COVERED POINTS)
---------------- -------------------------------------------------- --------------
GMIB All Products sold prior to February 15, 2003 35
GMIB and GMIB II Plan codes BN2203, BN22M3, CS5203, CS52M3, 45
CS52R3, CS53MR, LS4203, LS4204, LS42M3, LS42R3,
LS42R4, XX00XX, XX0000, XX00X0, XX00X0, XX00X0,
and ST13MR sold after April 30, 2003 and before
May 1, 2005 if GMDB program is Annual Step-Up or
Greater of Annual Step-Up and 5% Rollup
GMIB and GMIB II All other Products sold after February 14, 50
2003 and before May 1, 2005 and for All
Products sold after April 30,2005
GMIB Plus All Products sold after April 30, 2005 and 75
before February 26, 2007.
GMIB Plus All Products, except Marquis Portfolio, sold on or 80
after February 26, 2007.
GMIB Plus Marquis Portfolio sold on or after May 1, 2007 95
C. WITHDRAWAL PROGRAM
REINSURANCE
PREMIUM (BASIS
WITHDRAWAL PROGRAM PRODUCTS COVERED POINTS)
--------------------------------- ------------------------------------------- --------------
Guaranteed Withdrawal Benefit All Products sold before July 16, 2007 50
Guaranteed Withdrawal Benefit All Products sold on or after July 16, 2007 55
Principal Guarantee All Products 50
Principal Guarantee Value All Products 25
Lifetime GWB - Single Life All Products, except Marquis Portfolio and 50
Version PrimElite IV
Lifetime GWB - Single Life PrimElite IV 65
Version
Lifetime GWB - Single Life Marquis Portfolios 70
Version
Lifetime GWB - Joint Life Version All Products, except Marquis Portfolio and 70
PrimElite IV
Lifetime GWB - Joint Life PrimElite IV 85
Version
Lifetime GWB - Joint Life Marquis Portfolios 90
Version
D. ACCUMULATION PROGRAM
REINSURANCE PREMIUM
ACCUMULATION PROGRAM PRODUCTS COVERED (BASIS POINTS)
------------------------------- ------------------ -------------------
Guaranteed Accumulation Benefit PEP Product 150.00
Guaranteed Accumulation Benefit All Other Products 75.00
AMENDMENT NO. 8 TO
AUTOMATIC REINSURANCE AGREEMENT
EFFECTIVE AS OF APRIL 1, 2001
AMENDED AND RESTATED AS OF JULY 1, 2004
(Agreement)
between
METLIFE INVESTORS USA INSURANCE COMPANY
(Cedent)
and
EXETER REASSURANCE COMPANY, LTD.
(Reinsurer)
The Agreement is hereby amended, as of April 28, 2008, as follows:
1. The attached Schedule A, Plans of Reinsurance, amends and, as amended,
restates Schedule A, Plans of Reinsurance.
2. The attached Exhibit II, Reinsurance Premiums, amends and, as amended,
restates Exhibit II, Reinsurance Premiums.
This Amendment No. 8 does not alter, amend or modify the Agreement other than as
set forth herein, and the terms and conditions of the Agreement, as amended
herein, continue in effect without other change.
In Witness whereof, the parties have caused this Amendment No. 8 to be signed in
duplicate counterparts as of the date first above written.
METLIFE INVESTORS USA INSURANCE COMPANY
By: /s/ [Illegible Signature]
-------------------------------------
Title: V P
EXETER REASSURANCE COMPANY, LTD.
By: /s/ RBB
-------------------------------------
Title: President
Page 1 of 6
SCHEDULE A
PLANS OF REINSURANCE
A. Reinsurer's Percentage:
Prior to July 1, 2004, 25% of the business described herein.
Effective, July 1, 2004, 100% of the business described herein.
B. Effective Date:
April 1, 2001
C. Reinsured Contracts:
METLIFE INVESTORS USA INSURANCE COMPANY
DEFERRED ANNUITY CONTRACTS
---------------------------
VA Series Contract (Standard Contract, 7-year surrender charge schedule)
XC Series Contract (Bonus Contract, 9-year surrender charge schedule)
L Series Contract (3-year surrender charge schedule)
C Series Contract (No surrender charges)
S Series Contract (Standard and L Series)
Vintage VA (Standard Contract, 7-year surrender charge schedule)
Vintage XC (Bonus Contract, 9-year surrender charge schedule)
Vintage L (4-year surrender charge schedule)
Marquis Portfolios (No surrender charges)
USA PEP (10-year surrender charge schedule)
PrimElite III (8-year surrender charge schedule)
PrimElite IV (8-year surrender charge schedule)
FORM NUMBERS
------------
Guaranteed Minimum Death Benefits Ceded:
----------------------------------------
Standard Death Benefit - Principal Protection: Form 8015 (11/00)
Optional Death Benefit - Annual Step-Up: Form 8017 (11/00)
Optional Death Benefit - Greater of Annual Step-Up and 5% Rollup: Form
8016(11/00)
Additional Death Benefit- Earnings Preservation Benefit (EPB): Form
8019 (11/00)
Enhanced Death Benefit- Form MLIU-640-1 (4/08)
Page 2 of 6
Guaranteed Minimum Income Benefits Ceded:
-----------------------------------------
Guaranteed Minimum Income Benefit: Form 8018 (11/00)
Guaranteed Minimum Income Benefit II: Form 8018-1 (03/03)
Guaranteed Minimum Income Benefit Plus: Form 8018-2 (05/05)
Guaranteed Minimum Income Benefit Plus: Form MLU-560-4 (4/08)
Guaranteed Withdrawal Benefits Ceded:
-------------------------------------
Guaranteed Withdrawal Benefit: Form MLIU-690-1 (7/04)
Guaranteed Withdrawal Benefit: Form MLIU-690-2 (11/05)
Lifetime Guaranteed Withdrawal Benefit: Form MLIU-690-3 (6/06)
Lifetime Withdrawal Guaranteed Benefit (2008 Version): Form MLIU-690-4
(4/08)
Guaranteed Minimum Accumulation Benefits Ceded:
-----------------------------------------------
Guaranteed Minimum Accumulation Benefit: Form MLIU 670-1 (11/05)
Page 3 of 6
EXHIBIT II
REINSURANCE PREMIUMS
A. GMDB PROGRAM
REINSURANCE PREMIUM
GMDB PROGRAM PRODUCTS COVERED (BASIS POINTS)
----------------------------- ------------------------------------------------ ---------------------
Principal Protection All Products 9.00
Annual Step-Up Plan Codes: BN2201, BN22ML, CS5201, 10.00
CS520R, CS52ML, CS52MR, LS4201,
LS420R, LS42ML, LS42MR, ST1201,
ST120R, ST120X, ST12ML, and ST12MR
Annual Step-Up Other Plan Codes 20.00
Greater of Annual Step-Up and Plan Codes: BN2201, BN22ML, CS5201, 25.00
5% Rollup CS520R, CS52ML, CS52MR, LS4201,
LS420R, LS42ML, LS42MR, ST1201,
ST120R, ST120X, ST12ML, and ST12MR
Greater of Annual Step-Up and Other Plan Codes 35.00
5% Rollup
Earnings Preservation Benefit All Products 25.00
Enhanced Death Benefit All Products except Marquis 65.00*
Portfolio, Issue Age 0-69
Enhanced Death Benefit All Products except Marquis 85.00*
Portfolio, Issue Age 70-75
Enhanced Death Benefit Marquis Portfolio, Issue Age 0-69 85.00*
Enhanced Death Benefit Marquis Portfolio, Issue Age 70-75 105.00*
* If the Enhanced DB is elected in combination with Guaranteed Minimum Income
Benefit Plus (Form MLIU-560-4), there will be a 5 bps reduction in the fee
Page 4 of 6
B. INCOME PROGRAM
REINSURANCE PREMIUM
INCOME PROGRAM PRODUCTS COVERED (BASIS POINTS)
----------------------------- ------------------------------------------------ ---------------------
GMIB All Products sold prior to February 15, 2003 35
GMIB and GMIB II Plan codes BN2203, BN22M3, CS5203, CS52M3, 45
CS52R3, CS53MR, LS4203, LS4204, LS42M3, LS42R3,
LS42R4, XX00XX, XX0000, XX00X0, XX00X0, XX00X0,
and ST13MR sold after April 30, 2003 and before
May 1, 2005 if GMDB program is Annual Step-Up or
Greater of Annual Step-Up and 5% Rollup
GMIB and GMIB II All other Products sold after February 14, 50
2003 and before May 1, 2005 and for All
Products sold after April 30,2005
GMIB Plus All Products sold after April 30, 2005 and 75
before February 26, 2007.
GMIB Plus All Products, except Marquis Portfolio, sold on 80
or after February 26, 2007.
GMIB Plus Marquis Portfolio sold on or after May 1, 2007 95
Page 5 of 6
C. WITHDRAWAL PROGRAM
REINSURANCE PREMIUM
WITHDRAWAL PROGRAM PRODUCTS COVERED (BASIS POINTS)
----------------------------- ------------------------------------------------ ---------------------
Guaranteed Withdrawal Benefit All Products sold before July 16, 2007 50
Guaranteed Withdrawal Benefit All Products sold on or after July 16, 2007 55
Principal Guarantee All Products 50
Principal Guarantee Value All Products 25
Lifetime GWB - Single Life All Products, except Marquis Portfolio and 50
Version PrimElite IV
Lifetime GWB - Single Life PrimElite IV 65
Version
Lifetime GWB - Single Life Marquis Portfolios 70
Version
Lifetime GWB - Joint Life All Products, except Marquis Portfolio and 70
Version PrimElite IV
Lifetime GWB - Joint Life PrimElite IV 85
Version
Lifetime GWB - Joint Life Marquis Portfolios 90
Version
Lifetime GWB (2008 Version) All Products, except Marquis Portfolio 65
- Single Life Version
Lifetime GWB (2008 Version) Marquis Portfolios 85
- Single Life Version
Lifetime GWB (2008 All Products, except Marquis Portfolio 85
Version) - Joint Life
Version
Lifetime GWB (2008 Marquis Portfolios 105
Version) - Joint Life
Version
D. ACCUMULATION PROGRAM
REINSURANCE PREMIUM
ACCUMULATION PROGRAM PRODUCTS COVERED (BASIS POINTS)
----------------------------- ------------------------------------------------ ---------------------
Guaranteed Accumulation
Benefit PEP Product 150.00
Guaranteed Accumulation
Benefit All Other Products 75.00
Page 6 of 6
AMENDMENT NO. 9 TO
AUTOMATIC REINSURANCE AGREEMENT
EFFECTIVE AS OF APRIL 1, 2001
AMENDED AND RESTATED AS OF JULY 1, 2004
(Agreement)
between
METLIFE INVESTORS USA INSURANCE COMPANY
(Cedent)
and
EXETER REASSURANCE COMPANY, LTD.
(Reinsurer)
The Agreement is hereby amended, as of July 1, 2008, as follows:
Article XV of the Agreement, as amended, is hereby replaced in its entirety
with the attached Article XV, Contract and Program Changes.
This Amendment No. 9 does not alter, amend or modify the Agreement other than as
set forth herein, and the terms and conditions of the Agreement, as amended
herein, continue in effect without other change.
In Witness whereof, the parties have caused this Amendment No. 9 to be signed in
duplicate counterparts as of the date first above written.
METLIFE INVESTORS USA INSURANCE COMPANY
By: /s/ [Illegible Signature]
-------------------------------------
Title: V P
EXETER REASSURANCE COMPANY, LTD.
By: /s/ RBB
-------------------------------------
Title: President
Page 1 of 2
ARTICLE XV
CONTRACT AND PROGRAM CHANGES
A. The Cedent shall give the Reinsurer thirty (30) days prior written notice,
unless otherwise agreed to by the Cedent and the Reinsurer, of any changes
to the Reinsured Contracts relating to a Cedent's annuity product design
and/or death benefit design, fees and charges, distribution systems and/or
methods or addition of any riders to any Reinsured Contract forms.
B. The Cedent shall give the Reinsurer thirty (30) days written notice, unless
otherwise agreed to by the Cedent and the Reinsurer, of any changes to
reinsurance premium and Net Amount at Risk, including changes for
additional riders and changes to existing riders. Unless the Reinsurer
objects in writing within thirty (30) days after such written notice is
received by the Reinsurer, the additional riders, changes to premium and/or
changes to Net Amount at Risk will be considered reinsured under the
Agreement and included in Schedule A, Plans of Reinsurance, Exhibit II,
Reinsurance Premiums, and Article IV, Net Amount at Risk, respectively.
Reinsurance for additional riders, changes to the reinsurance premium and
Net Amount at Risk, including changes for additional riders and changes to
existing riders shall be effective as of the date specified in the notice
from the Cedent.
C. The Cedent shall provide to the Reinsurer a copy of each general
communication that the Cedent sends to contract holders in any state.
D. The Cedent shall simultaneously provide to the Reinsurer and any subsequent
retrocessionaires, a copy of any notice of any proposed change in the
investment options supporting Reinsured Contracts, and/or any other
accepted changes to the Reinsured Contracts related to a Cedent's annuity
product design and/or death benefit design, fees, charges, distributions
systems and/or methods or additions of any riders to any Reinsured Contract
forms.
Page 2 of 2
AMENDMENT NO. 10 TO
AUTOMATIC REINSURANCE AGREEMENT
EFFECTIVE AS OF APRIL 1, 2001
AMENDED AND RESTATED AS OF JULY 1, 2004
(Agreement)
between
METLIFE INVESTORS USA INSURANCE COMPANY
(Cedent)
and
EXETER REASSURANCE COMPANY, LTD.
(Reinsurer)
The Agreement is hereby amended, as of July 14, 2008, as follows:
1. The attached Schedule A, Plans of Reinsurance, amends and, as amended,
restates Schedule A, Plans of Reinsurance.
2. The attached Exhibit II, Reinsurance Premiums, amends and, as amended,
restates Exhibit II, Reinsurance Premiums.
This Amendment No. 10 does not alter, amend or modify the Agreement other than
as set forth herein, and the terms and conditions of the Agreement, as amended
herein, continue in effect without other change.
In Witness whereof, the parties have caused this Amendment No. 10 to be signed
in duplicate counterparts as of the date first above written.
METLIFE INVESTORS USA INSURANCE COMPANY
By: /s/ [Illegible Signature]
-------------------------------------
Title: V P
EXETER REASSURANCE COMPANY, LTD.
By: /s/ RBB
-------------------------------------
Title: President
Page 1 of 6
SCHEDULE A
PLANS OF REINSURANCE
A. Reinsurer's Percentage:
Prior to July 1, 2004, 25% of the business described herein.
Effective, July 1, 2004, 100% of the business described herein.
B. Effective Date:
April 1, 2001
C. Reinsured Contracts:
METLIFE INVESTORS USA INSURANCE COMPANY
DEFERRED ANNUITY CONTRACTS
--------------------------
VA Series Contract (Standard Contract, 7-year surrender charge schedule)
XC Series Contract (Bonus Contract, 9-year surrender charge schedule)
L Series Contract (3-year surrender charge schedule)
C Series Contract (No surrender charges)
S Series Contract (Standard and L Series)
Vintage VA (Standard Contract, 7-year surrender charge schedule)
Vintage XC (Bonus Contract, 9-year surrender charge schedule)
Vintage L (4-year surrender charge schedule)
Marquis Portfolios (No surrender charges)
USA PEP (10-year surrender charge schedule)
PrimElite III (8-year surrender charge schedule)
PrimElite IV (8-year surrender charge schedule)
PRISM (7-year surrender charge schedule)
PRISM L (4-year surrender charge schedule)
FORM NUMBERS
------------
Guaranteed Minimum Death Benefits Ceded:
----------------------------------------
Return of Account Value
Principal Protection: Form 8015 (11/00)
Annual Step-Up: Form 8017 (11/00)
Greater of Annual Step-Up and 5% Rollup: Form 8016(11/00)
Enhanced Death Benefit - Form MLIU-640-1 (4/08)
Additional Death Benefit - Earnings Preservation Benefit (EPB): Form 8019
(11/00)
Page 2 of 6
Guaranteed Minimum Income Benefits Ceded:
-----------------------------------------
Guaranteed Minimum Income Benefit: Form 8018 (11/00)
Guaranteed Minimum Income Benefit II: Form 8018-1 (03/03)
Guaranteed Minimum Income Benefit Plus: Form 8018-2 (05/05)
Guaranteed Minimum Income Benefit Plus: Form MLU-560-4 (4/08)
Guaranteed Withdrawal Benefits Ceded:
-------------------------------------
Guaranteed Withdrawal Benefit: Form MLIU-690-1 (7/04)
Guaranteed Withdrawal Benefit: Form MLIU-690-2 (11/05)
Lifetime Guaranteed Withdrawal Benefit: Form MLIU-690-3 (6/06)
Lifetime Withdrawal Guaranteed Benefit (2008 Version): Form MLIU-690-4
(4/08)
Guaranteed Minimum Accumulation Benefits Ceded:
-----------------------------------------------
Guaranteed Minimum Accumulation Benefit: Form MLIU 670-1 (11/05)
Page 3 of 6
EXHIBIT II
REINSURANCE PREMIUMS
A. GMDB PROGRAM
REINSURANCE PREMIUM
GMDB PROGRAM PRODUCTS COVERED (BASIS POINTS)
------------------------------- -------------------------------------------------- -------------------
Return of Account Value All Products 2.00
Principal Protection All Products, except PRISM and PRISM L 9.00
Principal Protection PRISM and PRISM L 15.00
Annual Step-Up Plan Codes: BN2201, BN22ML, CS5201, 10.00
CS520R, CS52ML, CS52MR, LS4201,
LS420R, LS42ML, LS42MR, ST1201,
ST120R, ST120X, ST12ML, and ST12MR
Annual Step-Up Other Plan Codes for all 20.00
products, except PRISM and
PRISM L
Annual Step-Up PRISM and PRISM L 30.00
Greater of Annual Step-Up and Plan Codes: BN2201, BN22ML, CS5201, 25.00
5% Rollup CS520R, CS52ML, CS52MR, LS4201,
LS420R, LS42ML, LS42MR, ST1201,
ST120R, ST120X, ST12ML, and ST12MR
Greater of Annual Step-Up and Other Plan Codes for all 35.00
5% Rollup products, except PRISM and
PRISM L
Greater of Annual Step-Up and PRISM and PRISM L 45.00
5% Rollup
Enhanced Death Benefit All Products except Marquis 65.00*
Portfolio, Issue Age 0-69
Enhanced Death Benefit All Products except Marquis 85.00*
Portfolio, Issue Age 70-75
Enhanced Death Benefit Marquis Portfolio, Issue Age 0-69 85.00*
Enhanced Death Benefit Marquis Portfolio, Issue Age 70-75 105.00*
Earnings Preservation All Products 25.00
Benefit
* If the Enhanced DB is elected in combination with Guaranteed Minimum Income
Benefit Plus (Form MLIU-560-4), there will be a 5 bps reduction in the fee
Page 4 of 6
B. INCOME PROGRAM
REINSURANCE PREMIUM
INCOME PROGRAM PRODUCTS COVERED (BASIS POINTS)
------------------------------- -------------------------------------------------- -------------------
GMIB All Products sold prior to February 15, 2003 35
GMIB and GMIB II Plan codes BN2203, BN22M3, CS5203, CS52M3, 45
CS52R3, CS53MR, LS4203, LS4204, LS42M3, LS42R3,
LS42R4, XX00XX, XX0000, XX00X0, XX00X0, XX00X0,
and ST13MR sold after April 30, 2003 and before
May 1, 2005 if GMDB program is Annual Step-Up or
Greater of Annual Step-Up and 5% Rollup
GMIB and GMIB II All other Products sold after February 14, 50
2003 and before May 1, 2005 and for All
Products sold after April 30, 2005
GMIB Plus All Products sold after April 30, 2005 and 75
before February 26, 2007.
GMIB Plus All Products, except Marquis Portfolio, sold on or 80
after February 26, 2007.
GMIB Plus Marquis Portfolio sold on or after May 1, 2007 95
Page 5 of 6
C. WITHDRAWAL PROGRAM
REINSURANCE PREMIUM
WITHDRAWAL PROGRAM PRODUCTS COVERED (BASIS POINTS)
------------------------------- -------------------------------------------------- -------------------
Guaranteed Withdrawal Benefit All Products sold before July 16, 2007 50
Guaranteed Withdrawal Benefit All Products sold on or after July 16, 2007 55
Principal Guarantee All Products 50
Principal Guarantee Value All Products 25
Lifetime GWB - Single Life All Products, except Marquis Portfolio and 50
Version PrimElite IV
Lifetime GWB - Single Life PrimElite IV 65
Version
Lifetime GWB - Single Life Marquis Portfolios 70
Version
Lifetime GWB - Joint Life All Products, except Marquis Portfolio and 70
Version PrimElite IV
Lifetime GWB - Joint Life PrimElite IV 85
Version
Lifetime GWB - Joint Life Marquis Portfolios 90
Version
Lifetime GWB (2008 Version) All Products, except Marquis Portfolio 65
- Single Life Version
Lifetime GWB (2008 Version) Marquis Portfolios 85
- Single Life Version
Lifetime GWB (2008 All Products, except Marquis Portfolio 85
Version) - Joint Life
Version
Lifetime GWB (2008 Marquis Portfolios 105
Version) - Joint Life
Version
D. ACCUMULATION PROGRAM
REINSURANCE PREMIUM
ACCUMULATION PROGRAM PRODUCTS COVERED (BASIS POINTS)
------------------------------- -------------------------------------------------- -------------------
Guaranteed Accumulation Benefit PEP Product 150.00
Guaranteed Accumulation Benefit All Other Products 75.00
Page 6 of 6
A Division of Metropolitan Life Insurance Company [LOGO OF METLIFE]
000 Xxxxxxxx Xxxxxx
Xxxxxx, XX 00000
October 10, 2008
Xxxxxxx Xxxxx
President
Exeter Reassurance Company, Ltd.
0000 Xxxxxx Xxxxx Xxxxx
Xxxx Xxxxxx Xxxx, XX 00000
Dear Xxxxxxx:
Please be advised of changes to the Automatic Reinsurance Agreement effective as
of April 1, 2001, and Amended and Restated as of July 1, 2004 (the "Agreement")
between MetLife Investors USA Insurance Company and Exeter Reassurance Company,
Ltd. Effective November 10, 2008, coverage for the Pioneer PRISM XC and Series
XTRA product will be included in Schedule A, Plans of Reinsurance, as well as
the premium charge for the associated riders will be included in Exhibit II,
Reinsurance Premiums. This letter will serve as notice of these changes and will
amend the Agreement effective November 10, 2008 as follows:
1. The attached Schedule A, Plans of Reinsurance, amends and, as amended,
restates Schedule A, Plans of Reinsurance.
2. The attached Exhibit II, Reinsurance Premiums, amends and, as amended,
restates Exhibit II, Reinsurance Premiums.
Please sign below to acknowledge your understanding and acceptance of this
change on behalf of Exeter Reassurance Company, Ltd.
If you have any questions or concerns, please contact Xxxxx Xxxxxxxx at
000-000-0000 or Xxxxxxxxx@Xxxxxxx.xxx.
Thank you for your assistance.
Sincerely,
/s/ Xxxxxxxxxxx X. Xxxxxx
-----------------------------------------
Xxxxxxxxxxx X. Xxxxxx
Vice President
MetLife Investors USA Insurance Company
ACKNOWLEDGED AND AGREED TO BY EXETER REASSURANCE COMPANY, LTD.
Signature: /s/ Xxxxxxx Xxxxx
--------------------------------
Name: Xxxxxxx Xxxxx
Title: Vice President
Page 1 of 6
SCHEDULE A
PLANS OF REINSURANCE
A. Reinsurer's Percentage:
Prior to July 1, 2004, 25% of the business described herein.
Effective, July 1, 2004, 100% of the business described herein.
B. Effective Date:
April 1, 2001
C. Reinsured Contracts:
METLIFE INVESTORS USA INSURANCE COMPANY
DEFERRED ANNUITY CONTRACTS
--------------------------
VA Series Contract (Standard Contract, 7-year surrender charge schedule)
XC Series Contract (Bonus Contract, 9-year surrender charge schedule)
L Series Contract (3-year surrender charge schedule)
C Series Contract (No surrender charges)
S Series Contract (Standard and L Series)
Vintage VA (Standard Contract, 7-year surrender charge schedule)
Vintage XC (Bonus Contract, 9-year surrender charge schedule)
Vintage L (4-year surrender charge schedule)
Marquis Portfolios (No surrender charges)
USA PEP {10-year surrender charge schedule)
PrimElite III (8-year surrender charge schedule)
PrimElite IV (8-year surrender charge schedule)
PRISM (7-year surrender charge schedule)
PRISM L (4-year surrender charge schedule)
Pioneer PRISM XC (9-year surrender charge schedule)
Series XTRA (9-year surrender charge schedule)
FORM NUMBERS
------------
Guaranteed Minimum Death Benefits Ceded:
----------------------------------------
Return of Account Value
Principal Protection: Form 8015 (11/00)
Annual Step-Up: Form 8017 (11/00)
Greater of Annual Step-Up and 5% Rollup: Form 8016(11/00)
Page 2 of 6
Enhanced Death Benefit- Form MLIU-640-1 (4/08)
Additional Death Benefit - Earnings Preservation Benefit (EPB): Form
8019 (11/00)
Guaranteed Minimum Income Benefits Ceded:
-----------------------------------------
Guaranteed Minimum Income Benefit: Form 8018 (11/00)
Guaranteed Minimum Income Benefit II: Form 8018-1 (03/03)
Guaranteed Minimum Income Benefit Plus: Form 8018-2 (05/05)
Guaranteed Minimum Income Benefit Plus: Form MLU-560-4 (4/08)
Guaranteed Withdrawal Benefits Ceded:
-------------------------------------
Guaranteed Withdrawal Benefit: Form MLIU-690-1 (7/04)
Guaranteed Withdrawal Benefit: Form MLIU-690-2 (11/05)
Lifetime Guaranteed Withdrawal Benefit: Form MLIU-690-3 (6/06)
Lifetime Withdrawal Guaranteed Benefit (2008 Version): Form MLIU-690-4
(4/08)
Guaranteed Minimum Accumulation Benefits Ceded:
-----------------------------------------------
Guaranteed Minimum Accumulation Benefit: Form MLIU 670-1 (11/05)
Page 3 of 6
EXHIBIT II
REINSURANCE PREMIUMS
A. GMDB PROGRAM
REINSURANCE PREMIUM
GMDB PROGRAM PRODUCTS COVERED (BASIS POINTS)
----------------------------- ------------------------------------------------ ---------------------
Return of Account Value All Products 2.00
Principal Protection All Products, except PRISM, PRISM L 9.00
& Pioneer PRISM XC
Principal Protection PRISM, PRISM L & Pioneer PRISM XC 15.00
Annual Step-Up Plan Codes: BN2201, BN22ML, 10.00
CS5201, CS520R, CS52ML, CS52MR,
LS4201, LS420R, LS42ML, LS42MR, ST1201,
ST120R, ST120X, ST12ML, and ST12MR
Annual Step-Up Other Plan Codes for all 20.00
products, except PRISM,
PRISM L & Pioneer PRISM XC
Annual Step-Up PRISM, PRISM L & Pioneer PRISM XC 30.00
Greater of Annual Step-Up and Plan Codes: BN2201, BN22ML, CS5201, 25.00
5% Rollup CS520R, CS52ML, CS52MR,
LS4201.LS420R, LS42ML, LS42MR, ST1201,
ST120R, ST120X, ST12ML, and ST12MR
Greater of Annual Step-Up and Other Plan Codes for all 35.00
5% Rollup products, except PRISM,
PRISM L & Pioneer PRISM XC
Greater of Annual Step-Up and PRISM, PRISM L & Pioneer PRISM XC 45.00
5% Rollup
Enhanced Death Benefit All Products except Marquis 65.00*
Portfolio, Issue Age 0-69
Enhanced Death Benefit All Products except Marquis 85.00*
Portfolio, Issue Age 70-75
Enhanced Death Benefit Marquis Portfolio, Issue Age 0-69 85.00*
Enhanced Death Benefit Marquis Portfolio, Issue Age 70-75 105.00*
Earnings Preservation All Products 25.00
Benefit
* If the Enhanced DB is elected in combination with Guaranteed Minimum Income
Benefit Plus (Form MLIU-560-4), there will be a 5 bps reduction in the fee
Page 4 of 6
B. INCOME PROGRAM
REINSURANCE PREMIUM
INCOME PROGRAM PRODUCTS COVERED (BASIS POINTS)
----------------------------- ------------------------------------------------ ---------------------
GMIB All Products sold prior to February 15, 2003 35
GMIB and GMIB II Plan codes BN2203, BN22M3, CS5203, CS52M3, 45
CS52R3, CS53MR, LS4203, LS4204, LS42M3, LS42R3,
LS42R4, XX00XX, XX0000, XX00X0, XX00X0, XX00X0,
and ST13MR sold after April 30, 2003 and before
May 1, 2005 if GMDB program is Annual Step-Up or
Greater of Annual Step-Up and 5% Rollup
GMIB and GMIB II All other Products sold after February 14, 50
2003 and before May 1, 2005 and for All
Products sold after April 30,2005
GMIB Plus All Products sold after April 30, 2005 and 75
before February 26, 2007.
GMIB Plus All Products, except Marquis Portfolio, sold on 80
or after February 26, 2007.
GMIB Plus Marquis Portfolio sold on or after May 1, 2007 95
Page 5 of 6
C. WITHDRAWAL PROGRAM
REINSURANCE PREMIUM
WITHDRAWAL PROGRAM PRODUCTS COVERED (BASIS POINTS)
----------------------------- ------------------------------------------------ ---------------------
Guaranteed Withdrawal Benefit All Products sold before July 16, 2007 50
Guaranteed Withdrawal Benefit All Products sold on or after July 16, 2007 55
Principal Guarantee All Products 50
Principal Guarantee Value All Products 25
Lifetime GWB - Single Life All Products, except Marquis Portfolio and 50
Version PrimElite IV
Lifetime GWB - Single Life PrimElite IV 65
Version
Lifetime GWB - Single Life Marquis Portfolios 70
Version
Lifetime GWB - Joint Life All Products, except Marquis Portfolio and 70
Version PrimElite IV
Lifetime GWB - Joint Life PrimElite IV 85
Version
Lifetime GWB - Joint Life Marquis Portfolios 90
Version
Lifetime GWB (2008 Version) All Products, except Marquis Portfolio 65
- Single Life Version
Lifetime GWB {2008 Version) Marquis Portfolios 85
- Single Life Version
Lifetime GWB (2008 All Products, except Marquis Portfolio 85
Version) - Joint Life
Version
Lifetime GWB (2008 Marquis Portfolios 105
Version) - Joint Life
Version
D. ACCUMULATION PROGRAM
REINSURANCE PREMIUM
ACCUMULATION PROGRAM PRODUCTS COVERED (BASIS POINTS)
----------------------------- ------------------------------------------------ ---------------------
Guaranteed Accumulation
Benefit PEP Product 150.00
Guaranteed Accumulation
Benefit All Other Products 75.00
Page 6 of 6
AMENDMENT NO. 12 TO
AUTOMATIC REINSURANCE AGREEMENT
EFFECTIVE AS OF APRIL 1, 2001
AMENDED AND RESTATED AS OF JULY 1, 2004
(Agreement)
between
METLIFE INVESTORS USA INSURANCE COMPANY
(Cedent)
and
EXETER REASSURANCE COMPANY, LTD.
(Reinsurer)
The Agreement is hereby amended, as of February 20, 2009, as follows:
1. The attached Exhibit II, Reinsurance Premiums, amends and, as amended,
restates Exhibit II, Reinsurance Premiums.
This Amendment No. 12 does not alter, amend or modify the Agreement other than
as set forth herein, and the terms and conditions of the Agreement, as amended
herein, continue in effect without other change.
In Witness whereof, the parties have caused this Amendment No. 12 to be signed
in duplicate counterparts as of the date first above written.
METLIFE INVESTORS USA INSURANCE COMPANY
By: /s/ [Illegible Signature]
-------------------------------------
Title: V P
EXETER REASSURANCE COMPANY, LTD.
By: /s/ RBB
-------------------------------------
Title: President
Page 1 of 5
EXHIBIT II
REINSURANCE PREMIUMS
A. GMDB PROGRAM
REINSURANCE PREMIUM
GMDB PROGRAM PRODUCTS COVERED (BASIS POINTS)
------------------------------- ------------------------------------------------------------- -------------------
Return of Account Value All Products 2.00
Principal Protection All Products, except PRISM, PRISM L & Pioneer 9.00
PRISM XC
Principal Protection PRISM, PRISM L & Pioneer PRISM XC 15.00
Annual Step-Up Plan Codes: BN2201, BN22ML, CS5201, 10.00
CS520R, CS52ML, CS52MR, LS4201,
LS420R, LS42ML, LS42MR, ST1201, ST120R,
ST120X, ST12ML, and ST12MR
Annual Step-Up Other Plan Codes for all products, except PRISM, 20.00
PRISM L & Pioneer PRISM XC
Annual Step-Up PRISM, PRISM L & Pioneer PRISM XC 30.00
Greater of Annual Step-Up and Plan Codes: BN2201, BN22ML, CS5201, 25.00
5% Rollup CS520R, CS52ML, CS52MR, LS4201,
LS420R, LS42ML, LS42MR, ST1201, ST120R,
ST120X, ST12ML, and ST12MR
Greater of Annual Step-Up and Other Plan Codes for all products, except PRISM, 35.00
5% Rollup PRISM L & Pioneer PRISM XC
Greater of Annual Step-Up and PRISM, PRISM L & Pioneer PRISM XC 45.00
5% Rollup
Enhanced Death Benefit All Products except Marquis Portfolio, Issue Age 65.00*
0-69
Enhanced Death Benefit All Products, except Marquis Portfolio, sold on or 85.00*
before February 20, 2009, Issue Age 70-75
Enhanced Death Benefit Marquis Portfolio, Issue Age 0-69 85.00*
Enhanced Death Benefit Marquis Portfolio sold on or before February 20, 2009, 105.00*
Issue Age 70-75
Enhanced Death Benefit All Products, except Marquis Portfolio, sold 90.00*
after February 20, 2009, Issue Age 70-75
Enhanced Death Benefit Marquis Portfolio sold after February 20, 2009, Issue 110.00*
Age 70-75
Earnings Preservation Benefit All Products 25.00
* If the Enhanced DB is elected in combination with Guaranteed Minimum Income
Benefit Plus (Form MLIU-560-4), there will be a 5 bps reduction in the fee.
Page 2 of 5
B. INCOME PROGRAM
REINSURANCE PREMIUM
INCOME PROGRAM PRODUCTS COVERED (BASIS POINTS)
------------------------------- ------------------------------------------------------------- -------------------
GMIB All Products sold prior to February 15, 2003 35
GMIB and GMIB II Plan codes BN2203, BN22M3, CS5203, CS52M3, CS52R3, CS53MR, 45
LS4203, LS4204, LS42M3, LS42R3, LS42R4, XX00XX, XX0000,
XX00X0, XX00X0, XX00X0, and ST13MR sold after April 30,
2003 and before May 1, 2005 if GMDB program is Annual Step-Up
or Greater of Annual Step-Up and 5% Rollup
GMIB and GMIB II All other Products sold after February 14, 2003 and 50
before May 1, 2005 and for All Products sold after
April 30,2005
GMIB Plus All Products sold after April 30, 2005 and before 75
February 26, 2007.
GMIB Plus All Products, except Marquis Portfolio, sold on or 80
after February 26, 2007 and on or before
February 20, 2009.
GMIB Plus Marquis Portfolio sold on or after May 1, 2007 and on or 95
before February 20, 2009
GMIB Plus All Products, except Marquis Portfolio, sold after 100
February 20, 2009.
GMIB Plus Marquis Portfolio sold after February 20, 2009 115
Page 3 of 5
C. WITHDRAWAL PROGRAM
REINSURANCE PREMIUM
WITHDRAWAL PROGRAM PRODUCTS COVERED (BASIS POINTS)
------------------------------- ------------------------------------------------------------- -------------------
Guaranteed Withdrawal Benefit All Products sold before July 16, 2007 50
Guaranteed Withdrawal Benefit All Products sold on or after July 16, 2007 55
Principal Guarantee All Products 50
Principal Guarantee Value All Products 25
Lifetime GWB - Single Life All Products, except Marquis Portfolio and PrimElite IV 50
Version
Lifetime GWB - Single Life PrimElite IV 65
Version
Lifetime GWB - Single Life Marquis Portfolios 70
Version
Lifetime GWB - Joint Life All Products, except Marquis Portfolio and PrimElite IV 70
Version
Lifetime GWB - Joint Life PrimElite IV 85
Version
Lifetime GWB - Joint Life Marquis Portfolios 90
Version
Lifetime GWB (2008 Version) All Products, except Marquis Portfolio, sold on or before 65
- Single Life Version February 20, 2009
Lifetime GWB (2008 Version) Marquis Portfolios, sold on or before February 20, 2009 85
- Single Life Version
Lifetime GWB (2008 All Products, except Marquis Portfolio, sold on or before 85
Version) - Joint Life February 20, 2009
Version
Lifetime GWB (2008 Marquis Portfolios, sold on or before February 20, 2009 105
Version) - Joint Life
Version
Lifetime GWB (2008 Version) All Products, except Marquis Portfolio, sold after 125
- Single Life Version February 20, 2009
Lifetime GWB (2008 Version) Marquis Portfolios, sold after February 20, 2009 145
- Single Life Version
Lifetime GWB (2008 All Products, except Marquis Portfolio, sold after 150
Version) - Joint Life February 20, 2009
Version
Lifetime GWB (2008 Marquis Portfolios, sold after February 20, 2009 170
Version) - Joint Life
Version
Page 4 of 5
D. ACCUMULATION PROGRAM
REINSURANCE PREMIUM
ACCUMULATION PROGRAM PRODUCTS COVERED (BASIS POINTS)
------------------------------- ------------------------------------------------------------- -------------------
Guaranteed Accumulation Benefit PEP Product 150.00
Guaranteed Accumulation Benefit All Other Products 75.00
Page 5 of 5
AMENDMENT No. 13 to
AUTOMATIC REINSURANCE AGREEMENT
EFFECTIVE AS OF APRIL 1, 2001
AMENDED AND RESTATED AS OF JULY 1, 2004
(Agreement)
between
METLIFE INVESTORS USA INSURANCE COMPANY
(Cedent)
and
EXETER REASSURANCE COMPANY, LTD.
(Reinsurer)
The Agreement is hereby amended, as of MAY 4, 2009, as follows:
1. The attached Schedule A, Plans of Reinsurance, amends and, as amended,
restates
2. The attached Exhibit II, Reinsurance Premiums, amends and, as amended,
restates Exhibit II, Reinsurance Premiums.
This Amendment No. 13 does not alter, amend or modify the Agreement other than
as set forth herein, and the terms and conditions of the Agreement, as amended
herein, continue in effect without other change.
In Witness whereof, the parties have caused this Amendment No. 13 to be signed
in duplicate counterparts as of the date first above written.
METLIFE INVESTORS USA INSURANCE COMPANY
By: /s/ [Illegible Signature]
-------------------------------------
Title: V P
EXETER REASSURANCE COMPANY, LTD.
By: /s/ RBB
-------------------------------------
Title: President
Page 1 of 8
SCHEDULE A
PLANS OF REINSURANCE
A. Reinsurer's Percentage:
Prior to July 1, 2004, 25% of the business described herein.
Effective, July 1, 2004, 100% of the business described herein.
B. Effective Date:
April 1, 2001
C. Reinsured Contracts:
METLIFE INVESTORS USA INSURANCE COMPANY
DEFERRED ANNUITY CONTRACTS
--------------------------
VA Series Contract (Standard Contract, 7-year surrender charge schedule)
XC Series Contract (Bonus Contract, 9-year surrender charge schedule)
L Series Contract (3-year surrender charge schedule)
C Series Contract (No surrender charges)
S Series Contract (Standard and L Series)
Vintage VA (Standard Contract, 7-year surrender charge schedule)
Vintage XC (Bonus Contract, 9-year surrender charge schedule)
Vintage L (4-year surrender charge schedule)
Marquis Portfolios (No surrender charges)
USA PEP (10-year surrender charge schedule)
PrimElite III (8-year surrender charge schedule)
PrimElite IV (8-year surrender charge schedule)
PRISM (7-year surrender charge schedule)
PRISM L (4-year surrender charge schedule)
Pioneer PRISM XC (9-year surrender charge schedule)
Series XTRA (9-year surrender charge schedule)
Series XTRA 6 (9-year surrender charge schedule)
FORM NUMBERS
------------
Guaranteed Minimum Death Benefits Ceded:
----------------------------------------
Return of Account Value
Principal Protection: Form 8015 (11/00)
Annual Step-Up: Form 8017 (11/00)
Page 2 of 8
Greater of Annual Step-Up and 5% Rollup: Form 8016(11/00)
Enhanced Death Benefit - Form MLIU-640-1 (4/08)
Additional Death Benefit - Earnings Preservation Benefit (EPB): Form
8019 (11/00)
Guaranteed Minimum Income Benefits Ceded:
-----------------------------------------
Guaranteed Minimum Income Benefit: Form 8018 (11/00)
Guaranteed Minimum Income Benefit II: Form 8018-1 (03/03)
Guaranteed Minimum Income Benefit Plus: Form 8018-2 (05/05)
Guaranteed Minimum Income Benefit Plus: Form MLU-560-4 (4/08)
Guaranteed Withdrawal Benefits Ceded:
-------------------------------------
Guaranteed Withdrawal Benefit: Form MLIU-690-1 (7/04)
Guaranteed Withdrawal Benefit: Form MLIU-690-2 (11/05)
Lifetime Guaranteed Withdrawal Benefit: Form MLIU-690-3 (6/06)
Lifetime Withdrawal Guaranteed Benefit (2008 Version): Form MLIU-690-4
(4/08)
Guaranteed Minimum Accumulation Benefits Ceded:
-----------------------------------------------
Guaranteed Minimum Accumulation Benefit: Form MLIU 670-1 (11/05)
Page 3 of 8
EXHIBIT II
REINSURANCE PREMIUMS
A. GMDB PROGRAM
REINSURANCE PREMIUM
GMDB PROGRAM PRODUCTS COVERED (BASIS POINTS)
------------------------------- ------------------------------------------------ -------------------
Return of Account Value All Products 2.00
Principal Protection All Products, except PRISM, PRISM L 9.00
& Pioneer PRISM XC
Principal Protection PRISM, PRISM L & Pioneer PRISM XC 15.00
Annual Step-Up Plan Codes: BN2201, BN22ML, CS5201, 10.00
CS520R, CS52ML, CS52MR, LS4201,
LS420R, LS42ML, LS42MR, ST1201, ST120R,
ST120X, ST12ML, and ST12MR
Annual Step-Up Other Plan Codes for all products, except PRISM, 20.00
PRISM L & Pioneer PRISM XC
Annual Step-Up PRISM, PRISM L & Pioneer PRISM XC 30.00
Greater of Annual Step-Up and Plan Codes: BN2201, BN22ML, CS5201, 25.00
5% Rollup CS520R, CS52ML, CS52MR, LS4201,
LS420R, LS42ML, LS42MR, ST1201, ST120R,
ST120X, ST12ML, and ST12MR
Greater of Annual Step-Up and Other Plan Codes for all products, except PRISM, 35.00
5% Rollup PRISM L & Pioneer PRISM XC
Greater of Annual Step-Up and PRISM, PRISM L & Pioneer PRISM XC 45.00
5% Rollup
Enhanced Death Benefit All Products, except Marquis Portfolio, sold 65.00*
before May 4, 2009, Issue Age 0-69
Enhanced Death Benefit Marquis Portfolio sold before May 4, 2009, 85.00*
Issue Age 0-69
Enhanced Death Benefit All Products, except Marquis Portfolio, 75.00
sold on or after May 4, 2009, Issue Age 0-69
Enhanced Death Benefit Marquis Portfolio sold on or after May 4, 2009, 95.00
Issue Age 0-69
Enhanced Death Benefit All Products, except Marquis Portfolio, 85.00*
sold on or before February 20, 2009,
Issue Age 70-75
Enhanced Death Benefit Marquis Portfolio sold on or before 105.00*
February 20, 2009, Issue Age 70-75
Enhanced Death Benefit All Products, except Marquis Portfolio, sold 90.00*
after February 20, 2009 and before May 4,
2009, Issue Age 70-75
Enhanced Death Benefit Marquis Portfolio sold after February 20, 2009 110.00*
and before May 4, 2009, Issue Age 70-75
Enhanced Death Benefit All Products, except Marquis Portfolio, 95.00
sold on or after May 4, 2009,
Issue Age 70-75
Enhanced Death Benefit Marquis Portfolio sold on or after May 4, 2009, 115.00
Issue Age 70-75
Page 4 of 8
Earnings Preservation All Products 25.00
Benefit
* Prior to May 4, 2009, if the Enhanced DB is elected in combination with
Guaranteed Minimum Income Benefit Plus (Form MLIU-560-4), there will be a 5
bps reduction in the fee
Page 5 of 8
B. INCOME PROGRAM
REINSURANCE PREMIUM
INCOME PROGRAM PRODUCTS COVERED (BASIS POINTS)
------------------------------- ------------------------------------------------ -------------------
GMIB All Products sold prior to February 15, 2003 35
GMIB and GMIB II Plan codes BN2203, BN22M3, CS5203, CS52M3, 45
CS52R3, CS53MR, LS4203, LS4204, LS42M3, LS42R3,
LS42R4, XX00XX, XX0000, XX00X0, XX00X0, XX00X0,
and ST13MR sold after April 30, 2003 and before
May 1, 2005 if GMDB program is Annual Step-Up or
Greater of Annual Step-Up and 5% Rollup
GMIB and GMIB II All other Products sold after February 14, 2003 50
and before May 1, 2005 and for All Products sold
after April 30, 2005
GMIB Plus All Products sold after April 30, 2005 and 75
before February 26, 2007.
GMIB Plus All Products, except Marquis Portfolio, sold on 80
or after February 26, 2007 and on or before
February 20, 2009.
GMIB Plus Marquis Portfolio sold on or after May 1, 2007 95
and on or before February 20, 2009
GMIB Plus All Products, except Marquis Portfolio, 100
sold after February 20, 2009.
GMIB Plus Marquis Portfolio sold after February 20, 2009 115
Page 6 of 8
C. WITHDRAWAL PROGRAM
REINSURANCE PREMIUM
WITHDRAWAL PROGRAM PRODUCTS COVERED (BASIS POINTS)
------------------------------- ------------------------------------------------ -------------------
Guaranteed Withdrawal Benefit All Products sold before July 16, 2007 50
Guaranteed Withdrawal Benefit All Products sold on or after July 16, 2007 55
Principal Guarantee All Products 50
Principal Guarantee Value All Products 25
Lifetime GWB - Single Life All Products, except Marquis Portfolio 50
Version and PrimElite IV
Lifetime GWB - Single Life PrimElite IV sold before May 4, 2009 65
Version
Lifetime GWB - Single Life PrimElite IV sold on or after May 4, 2009 110
Version
Lifetime GWB - Single Life Marquis Portfolios 70
Version
Lifetime GWB - Joint Life All Products, except Marquis Portfolio 70
Version and PrimElite IV
Lifetime GWB - Joint Life PrimElite IV sold before May 4, 2009 85
Version
Lifetime GWB - Joint Life PrimElite IV sold on or after May 4, 2009 125
Version
Lifetime GWB - Joint Life Marquis Portfolios 90
Version
Lifetime GWB (2008 Version) All Products, except Marquis Portfolio, 65
- Single Life Version sold on or before February 20, 2009
Lifetime GWB (2008 Version) Marquis Portfolios, sold on or before 85
- Single Life Version February 20, 2009
Lifetime GWB (2008 All Products, except Marquis Portfolio, sold 85
Version) - Joint Life on or before February 20, 2009
Version
Lifetime GWB (2008 Marquis Portfolios, sold on or before 105
Version) - Joint Life February 20, 2009
Version
Lifetime GWB (2008 Version) All Products, except Marquis Portfolio, 125
- Single Life Version sold after February 20, 2009
Lifetime GWB (2008 Version) Marquis Portfolios, sold after 145
- Single Life Version February 20, 2009
Lifetime GWB (2008 All Products, except Marquis Portfolio, 150
Version) - Joint Life sold after February 20, 2009
Version
Page 7 of 8
Lifetime GWB (2008 Marquis Portfolios, sold after 170
Version) - Joint Life February 20, 2009
Version
D. ACCUMULATION PROGRAM
REINSURANCE PREMIUM
ACCUMULATION PROGRAM PRODUCTS COVERED (BASIS POINTS)
------------------------------- ------------------------------------------------ -------------------
Guaranteed Accumulation Benefit PEP Product 150.00
Guaranteed Accumulation Benefit All Other Products 75.00
Page 8 of 8
AMENDMENT NO. 14 TO
AUTOMATIC REINSURANCE AGREEMENT
EFFECTIVE AS OF APRIL 1, 2001
AMENDED AND RESTATED AS OF JULY 1, 2004
(Agreement)
between
METLIFE INVESTORS USA INSURANCE COMPANY
(Cedent)
and
EXETER REASSURANCE COMPANY, LTD.
(Reinsurer)
The Agreement is hereby amended, as of JULY 10, 2009, as follows:
1. The attached Schedule A, Plans of Reinsurance, amends and, as amended,
restates
2. The attached Exhibit II, Reinsurance Premiums, amends and, as amended,
restates Exhibit II, Reinsurance Premiums.
This Amendment No. 14 does not alter, amend or modify the Agreement other than
as set forth herein, and the terms and conditions of the Agreement, as amended
herein, continue in effect without other change.
In Witness whereof, the parties have caused this Amendment No. 14 to be signed
in duplicate counterparts as of the date first above written.
METLIFE INVESTORS USA INSURANCE COMPANY
By: /s/ [Illegible Signature]
-------------------------------------
Title: V P
EXETER REASSURANCE COMPANY, LTD.
By: /s/ RBB
-------------------------------------
Title: President
Page 1 of 8
SCHEDULE A
PLANS OF REINSURANCE
A. Reinsurer's Percentage:
Prior to July 1, 2004, 25% of the business described herein.
Effective, July 1, 2004, 100% of the business described herein.
B. Effective Date:
April, 2001
C. Reinsured Contracts:
METLIFE INVESTORS USA INSURANCE COMPANY
DEFERRED ANNUITY CONTRACTS
--------------------------
VA Series Contract (Standard Contract, 7-year surrender charge schedule)
XC Series Contract (Bonus Contract, 9-year surrender charge schedule)
L Series Contract (3-year surrender charge schedule)
C Series Contract (No surrender charges)
S Series Contract (Standard and L Series)
Vintage VA (Standard Contract, 7-year surrender charge schedule)
Vintage XC (Bonus Contract, 9-year surrender charge schedule)
Vintage L (4-year surrender charge schedule)
Marquis Portfolios (No surrender charges)
USA PEP (10-year surrender charge schedule)
PrimElite III (8-year surrender charge schedule)
Prim Elite IV (8-year surrender charge schedule)
PRISM (7-year surrender charge schedule)
PRISM L (4-year surrender charge schedule)
Pioneer PRISM XC (9-year surrender charge schedule)
Series XTRA (9-year surrender charge schedule)
Series XTRA 6 (9-year surrender charge schedule)
Simple Solutions (6-year surrender charge schedule)
Page 2 of 8
FORM NUMBERS
------------
Guaranteed Minimum Death Benefits Ceded:
----------------------------------------
Return of Account Value
Principal Protection: Form 8015 (11/00)
Annual Step-Up: Form 8017 (11/00)
Greater of Annual Step-Up and 5% Rollup: Form 8016 (11/00)
Enhanced Death Benefit - Form MLIU-640-1 (4/08)
Additional Death Benefit - Earnings Preservation Benefit (EPB): Form
8019 (11/00)
Guaranteed Minimum Income Benefits Ceded:
-----------------------------------------
Guaranteed Minimum Income Benefit: Form 8018 (11/00)
Guaranteed Minimum Income Benefit II: Form 8018-1 (03/03)
Guaranteed Minimum Income Benefit Plus: Form 8018-2 (05/05)
Guaranteed Minimum Income Benefit Plus: Form MLU-560-4 (4/08)
Guaranteed Withdrawal Benefits Ceded:
-------------------------------------
Guaranteed Withdrawal Benefit: Form MLIU-690-1 (7/04)
Guaranteed Withdrawal Benefit: Form MLIU-690-2 (11/05)
Lifetime Guaranteed Withdrawal Benefit: Form MLIU-690-3 (6/06)
Lifetime Withdrawal Guaranteed Benefit (2008 Version): Form MLIU-690-4
(4/08) or MLIU-690-5 (7/09)
Lifetime Withdrawal Guaranteed Benefit III: Form MLIU-690-4 (4/08) or
MLIU-690-5 (7/09)
Guaranteed Minimum Accumulation Benefits Ceded:
-----------------------------------------------
Guaranteed Minimum Accumulation Benefit: Form MLIU 670-1 (11/05)
Page 3 of 8
EXHIBIT II
REINSURANCE PREMIUMS
A. GMDB PROGRAM
REINSURANCE PREMIUM
GMDB PROGRAM PRODUCTS COVERED (BASIS POINTS)
--------------------------------- --------------------------------------------------------------- -------------------
Return of Account Value All Products 2.00
Principal Protection All Products, except PRISM, PRISM L & Pioneer 9.00
PRISM XC
Principal Protection PRISM, PRISM L & Pioneer PRISM XC 15.00
Annual Step-Up Plan Codes: BN2201, BN22ML, CS5201, 10.00
CS520R, CS52ML, CS52MR, LS4201,
LS420R, LS42ML, LS42MR, ST1201, ST120R,
ST120X, ST12ML, and ST12MR
Annual Step-Up Other Plan Codes for all products, except PRISM, 20.00
PRISM L & Pioneer PRISM XC
Annual Step-Up PRISM, PRISM L & Pioneer PRISM XC 30.00
Greater of Annual Step-Up and Plan Codes: BN2201, BN22ML, CS5201, 25.00
5% Rollup CS520R, CS52ML, CS52MR, LS4201,
LS420R, LS42ML, LS42MR, ST1201, ST120R,
ST120X, ST12ML, and ST12MR
Greater of Annual Step-Up and Other Plan Codes for all products, except PRISM, 35.00
5% Rollup PRISM L & Pioneer PRISM XC
Greater of Annual Step-Up and PRISM, PRISM L & Pioneer PRISM XC 45.00
5% Rollup
Enhanced Death Benefit All Products, except Marquis Portfolio, sold before 65.00*
May 4, 2009, Issue Age 0-69
Enhanced Death Benefit Marquis Portfolio sold before May 4, 2009, Issue 85.00*
Age 0-69
Enhanced Death Benefit All Products, except Marquis Portfolio, sold on or 75.00
after May 4, 2009, Issue Age 0-69
Enhanced Death Benefit Marquis Portfolio sold on or after May 4, 2009, Issue 95.00
Age 0-69
Enhanced Death Benefit All Products, except Marquis Portfolio, sold on or 85.00*
before February 20, 2009, Issue Age 70-75
Enhanced Death Benefit Marquis Portfolio sold on or before February 20, 2009, 105.00*
Issue Age 70-75
Enhanced Death Benefit All Products, except Marquis Portfolio, sold 90.00*
after February 20, 2009 and before May 4,
2009, Issue Age 70-75
Enhanced Death Benefit Marquis Portfolio sold after February 20, 2009 and 110.00*
before May 4, 2009, Issue Age 70-75
Enhanced Death Benefit All Products, except Marquis Portfolio, sold on or 95.00
after May 4, 2009, Issue Age 70-75
Enhanced Death Benefit Marquis Portfolio sold on or after May 4, 2009, Issue 115.00
Age 70-75
Page 4 of 8
Earnings Preservation Benefit All Products 25.00
* Prior to May 4, 2009, if the Enhanced DB is elected in combination with
Guaranteed Minimum Income Benefit Plus (Form MLIU-560-4), there will be a 5
bps reduction in the fee
Page 5 of 8
B. INCOME PROGRAM
REINSURANCE PREMIUM
INCOME PROGRAM PRODUCTS COVERED (BASIS POINTS)
--------------------------------- --------------------------------------------------------------- -------------------
GMIB All Products sold prior to February 15, 2003 35
GMIB and GMIB II Plan codes BN2203, BN22M3, CS5203, CS52M3, CS52R3, CS53MR, 45
LS4203, LS4204, LS42M3, LS42R3, LS42R4, XX00XX, XX0000, XX00X0,
XX00X0, XX00X0, and ST13MR sold after April 30, 2003 and before
May 1, 2005 if GMDB program is Annual Step-Up or Greater of
Annual Step-Up and 5% Rollup
GMIB and GMIB II All other Products sold after February 14, 2003 and 50
before May 1, 2005 and for All Products sold after
April 30,2005
GMIB Plus All Products sold after April 30, 2005 and before February 75
26, 2007.
GMIB Plus All Products, except Marquis Portfolio, sold on or 80
after February 26, 2007 and on or before
February 20, 2009.
GMIB Plus Marquis Portfolio sold on or after May 1, 2007 and on or 95
before February 20, 2009
GMIB Plus All Products, except Marquis Portfolio, sold after February 100
20, 2009.
GMIB Plus Marquis Portfolio sold after February 20, 2009 115
Page 6 of 8
C. WITHDRAWAL PROGRAM
REINSURANCE PREMIUM
WITHDRAWAL PROGRAM PRODUCTS COVERED (BASIS POINTS)
--------------------------------- --------------------------------------------------------------- -------------------
Guaranteed Withdrawal Benefit All Products sold before July 16, 2007 50
Guaranteed Withdrawal Benefit All Products sold on or after July 16, 2007 55
Principal Guarantee All Products 50
Principal Guarantee Value All Products 25
Lifetime GWB - Single Life All Products, except Marquis Portfolio and PrimElite IV 50
Version
Lifetime GWB - Single Life PrimElite IV sold before May 4, 2009 65
Version
Lifetime GWB - Single Life PrimElite IV sold on or after May 4, 2009 110
Version
Lifetime GWB - Single Life Marquis Portfolios 70
Version
Lifetime GWB - Joint Life Version All Products, except Marquis Portfolio and PrimElite IV 70
Lifetime GWB - Joint Life Version PrimElite IV sold before May 4, 2009 85
Lifetime GWB - Joint Life Version PrimElite IV sold on or after May 4, 2009 125
Lifetime GWB - Joint Life Version Marquis Portfolios 90
Lifetime GWB (2008 Version) - All Products, except Marquis Portfolio, sold on or before 65
Single Life Version February 20, 2009
Lifetime GWB (2008 Version) - Marquis Portfolios, sold on or before February 20, 2009 85
Single Life Version
Lifetime GWB (2008 Version) All Products, except Marquis Portfolio, sold on or before 85
- Joint Life Version February 20, 2009
Lifetime GWB (2008 Version) Marquis Portfolios, sold on or before February 20, 2009 105
- Joint Life Version
Lifetime GWB (2008 Version) - All Products, except Marquis Portfolio, sold after 125
Single Life Version February 20, 2009
Lifetime GWB (2008 Version) - Marquis Portfolios, sold after February 20, 2009 145
Single Life Version
Lifetime GWB (2008 Version) All Products, except Marquis Portfolio, sold after 150
- Joint Life Version February 20, 2009
Page 7 of 8
Lifetime GWB (2008 Version) Marquis Portfolios, sold after February 20, 2009 170
- Joint Life Version
Lifetime LWG III - Single Life Simple Solutions 100
Version
Lifetime LWG III - Joint Life Simple Solutions 120
Version
D. ACCUMULATION PROGRAM
REINSURANCE PREMIUM
ACCUMULATION PROGRAM PRODUCTS COVERED (BASIS POINTS)
--------------------------------- --------------------------------------------------------------- -------------------
Guaranteed Accumulation Benefit PEP Product 150.00
Guaranteed Accumulation Benefit All Other Products 75.00
Page 8 of 8
AMENDMENT NO. 15 TO
AUTOMATIC REINSURANCE AGREEMENT
EFFECTIVE AS OF APRIL 1, 2001
AMENDED AND RESTATED AS OF JULY 1, 2004
(Agreement)
between
METLIFE INVESTORS USA INSURANCE COMPANY
(Cedent)
and
EXETER REASSURANCE COMPANY, LTD.
(Reinsurer)
The Agreement is hereby amended, as of JULY 19, 2010, as follows:
1. The attached Schedule A, Plans of Reinsurance, amends and, as amended,
restates
2. The attached Exhibit II, Reinsurance Premiums, amends and, as amended,
restates Exhibit II, Reinsurance Premiums.
This Amendment No. 15 does not alter, amend or modify the Agreement other than
as set forth herein, and the terms and conditions of the Agreement, as amended
herein, continue in effect without other change.
In witness whereof, the parties have caused this Amendment No. 15 to be signed
in duplicate counterparts as of the date first above written.
METLIFE INVESTORS USA INSURANCE COMPANY
By: /s/ RBB
-------------------------------------
Title: Vice President
EXETER REASSURANCE COMPANY, LTD.
By: /s/ [Illegible Signature]
-------------------------------------
Title: AVP & Actuary
Page 1 of 8
SCHEDULE A
PLANS OF REINSURANCE
A. Reinsurer's Percentage:
Prior to July 1, 2004, 25% of the business described herein.
Effective, July 1, 2004, 100% of the business described herein.
B. Effective Date:
April 1, 2001
C. Reinsured Contracts:
METLIFE INVESTORS USA INSURANCE COMPANY
DEFERRED ANNUITY CONTRACTS
--------------------------
VA Series Contract (Standard Contract, 7-year surrender charge schedule)
XC Series Contract (Bonus Contract, 9-year surrender charge schedule)
L Series Contract (3-year surrender charge schedule)
C Series Contract (No surrender charges)
S Series Contract (Standard and L Series)
Vintage VA (Standard Contract, 7-year surrender charge schedule)
Vintage XC (Bonus Contract, 9-year surrender charge schedule)
Vintage L (4-year surrender charge schedule)
Marquis Portfolios (No surrender charges)
USA PEP (10-year surrender charge schedule)
PrimElite III (8-year surrender charge schedule)
PrimElite IV (8-year surrender charge schedule)
PRISM (7-year surrender charge schedule)
PRISM L (4-year surrender charge schedule)
Pioneer PRISM XC (9-year surrender charge schedule)
Series XTRA (9-year surrender charge schedule)
Series XTRA 6 (9-year surrender charge schedule)
Simple Solutions (6-year surrender charge schedule)
Page 2 of 8
FORM NUMBERS
------------
Guaranteed Minimum Death Benefits Ceded:
----------------------------------------
Return of Account Value
Principal Protection: Form 8015 (11/00)
Annual Step-Up: Form 8017 (11/00)
Greater of Annual Step-Up and 5% Rollup: Form 8016 (11/00)
Enhanced Death Benefit - Form MLIU-640-1 (4/08)
Enhanced Death Benefit II - Endorsement MLIU-RMD (7/10)-E
Additional Death Benefit - Earnings Preservation Benefit (EPB): Form
8019 (11/00)
Guaranteed Minimum Income Benefits Ceded:
-----------------------------------------
Guaranteed Minimum Income Benefit: Form 8018 (11/00)
Guaranteed Minimum Income Benefit II: Form 8018-1 (03/03)
Guaranteed Minimum Income Benefit Plus: Form 8018-2 (05/05)
Guaranteed Minimum Income Benefit Plus: Form MLU-560-4 (4/08)
Guaranteed Minimum Income Benefit Plus III: Endorsement MLIU-RMD
(7/10)-E
Guaranteed Withdrawal Benefits Ceded:
-------------------------------------
Guaranteed Withdrawal Benefit: Form MLIU-690-1 (7/04)
Guaranteed Withdrawal Benefit: Form MLIU-690-2 (11/05)
Lifetime Guaranteed Withdrawal Benefit: Form MLIU-690-3 (6/06)
Lifetime Withdrawal Guaranteed Benefit (2008 Version): Form MLIU-690-4
(4/08) or MLIU-690-5 (7/09)
Lifetime Withdrawal Guaranteed Benefit III: Form MLIU-690-4 (4/08) or
MLIU-690-5 (7/09)
Guaranteed Minimum Accumulation Benefits Ceded:
-----------------------------------------------
Guaranteed Minimum Accumulation Benefit: Form MI.IU 670-1 (11/05)
Page 3 of 8
EXHIBIT II
REINSURANCE PREMIUMS
A. GMDB PROGRAM
REINSURANCE PREMIUM
GMDB PROGRAM PRODUCTS COVERED (BASIS POINTS)
------------------------------- ------------------------------------------------ -------------------
Return of Account Value All Products 2.00
Principal Protection All Products, except PRISM, PRISM L 9.00
& Pioneer PRISM XC
Principal Protection PRISM, PRISM L & Pioneer PRISM XC 15.00
Annual Step-Up Plan Codes: BN2201, BN22ML, CS5201, 10.00
CS520R, CS52ML, CS52MR, LS4201,
LS420R, LS42ML, LS42MR, ST1201,
ST120R, ST120X, ST12ML, and ST12MR
Annual Step-Up Other Plan Codes for all products, 20.00
except PRISM, PRISM L & Pioneer
PRISM XC
Annual Step-Up PRISM, PRISM L & Pioneer PRISM XC 30.00
Greater of Annual Step-Up and 5% Plan Codes: BN2201, BN22ML, CS5201, 25.00
Rollup CS520R, CS52ML, CS52MR, LS4201,
LS420R, LS42ML, LS42MR, ST1201,
ST120R, ST120X, ST12ML, and ST12MR
Greater of Annual Step-Up and 5% Other Plan Codes for all products, 35.00
Rollup except PRISM, PRISM L & Pioneer
PRISM XC
Greater of Annual Step-Up and 5% PRISM, PRISM L & Pioneer PRISM XC 45.00
Rollup
Enhanced Death Benefit All Products, except Marquis 65.00*
Portfolio, sold before May 4, 2009,
Issue Age 0-69
Enhanced Death Benefit Marquis Portfolio sold before May 4, 85.00*
2009, Issue Age 0-69
Enhanced Death Benefit All Products, except Marquis 75.00
Portfolio, sold on or after May 4,
2009, Issue Age 0-69
Enhanced Death Benefit Marquis Portfolio sold on or after 95.00
May 4, 2009, Issue Age 0-69
Enhanced Death Benefit All Products, except Marquis 85.00*
Portfolio, sold on or before
February 20, 2009, Issue Age 70-75
Enhanced Death Benefit Marquis Portfolio sold on or before 105.00*
February 20, 2009, Issue Age 70-75
Enhanced Death Benefit All Products, except Marquis Portfolio, 90.00*
sold after February 20, 2009
and before May 4, 2009, Issue Age 70-75
Enhanced Death Benefit Marquis Portfolio sold after February 20, 110.00*
2009 and before May 4, 2009, Issue Age 70-75
Enhanced Death Benefit All Products, except Marquis 95.00
Portfolio, sold on or after May 4,
2009, Issue Age 70-75
Page 4 of 8
Enhanced Death Benefit Marquis Portfolio sold on or after 115.00
May 4, 2009, Issue Age 70-75
Enhanced Death Benefit II Marquis Portfolio, Issue Ages 0-69 80.00
Enhanced Death Benefit II Marquis Portfolio, Issue Ages 70-75 135.00
Enhanced Death Benefit II All products, except Marquis Portfolio, 60.00
Issue Ages 0-69
Enhanced Death Benefit II All products, except Marquis 115.00
Portfolio, Issue Ages 70-75
Earnings Preservation All Products 25.00
Benefit
* Prior to May 4, 2009, if the Enhanced DB is elected in combination with
Guaranteed Minimum Income Benefit Plus (Form MLIU-560-4), there will be a 5
bps reduction in the fee
Page 5 of 8
B. INCOME PROGRAM
REINSURANCE PREMIUM
INCOME PROGRAM PRODUCTS COVERED (BASIS POINTS)
------------------------------- ------------------------------------------------ -------------------
GMIB All Products sold prior to February 15, 35
2003
GMIB and GMIB II Plan codes BN2203, BN22M3, CS5203, 45
CS52M3, CS52R3, CS53MR, LS4203, LS4204,
LS42M3, LS42R3, LS42R4, XX00XX, XX0000,
XX00X0, XX00X0, XX00X0, and ST13MR sold
after April 30, 2003 and before May 1,
2005 if GMDB program is Annual Step-Up or
Greater of Annual Step-Up and 5% Rollup
GMIB and GMIB II All other Products sold after February 50
14, 2003 and
before May 1, 2005 and for All Products
sold after
April 30,2005
GMIB Plus All Products sold after April 30, 75
2005 and before February 26, 2007.
GMIB Plus All Products, except Marquis Portfolio, 80
sold on or
after February 26, 2007 and on or before
February
20, 2009.
GMIB Plus Marquis Portfolio sold on or after May 95
1, 2007 and on or before February 20,
2009
GMIB Plus All Products, except Marquis 100
Portfolio, sold after February 20,
2009.
GMIB Plus Marquis Portfolio sold after 115
February 20, 2009
Page 6 of 8
C. WITHDRAWAL PROGRAM
REINSURANCE PREMIUM
WITHDRAWAL PROGRAM PRODUCTS COVERED (BASIS POINTS)
------------------------------- ------------------------------------------------ -------------------
Guaranteed Withdrawal Benefit All Products sold before July 16, 2007 50
Guaranteed Withdrawal Benefit All Products sold on or after July 16, 2007 55
Principal Guarantee All Products 50
Principal Guarantee Value All Products 25
Lifetime GWB - Single Life All Products, except Marquis Portfolio and 50
Version PrimElite IV
Lifetime GWB - Single Life PrimElite IV sold before May 4, 2009 65
Version
Lifetime GWB - Single Life PrimElite IV sold on or after May 4, 2009 110
Version
Lifetime GWB - Single Life Marquis Portfolios 70
Version
Lifetime GWB - Joint Life All Products, except Marquis Portfolio and 70
Version PrimElite IV
Lifetime GWB - Joint Life PrimElite IV sold before May 4, 2009 85
Version
Lifetime GWB - Joint Life PrimElite IV sold on or after May 4, 2009 125
Version
Lifetime GWB - Joint Life Marquis Portfolios 90
Version
Lifetime GWB (2008 Version) All Products, except Marquis Portfolio, 65
- Single Life Version sold on or before February 20, 2009
Lifetime GWB (2008 Version) Marquis Portfolios, sold on or before 85
- Single Life Version February 20, 2009
Lifetime GWB (2008 All Products, except Marquis Portfolio, 85
Version) - Joint Life sold on or before February 20, 2009
Version
Lifetime GWB (2008 Marquis Portfolios, sold on or before 105
Version) - Joint Life February 20, 2009
Version
Lifetime GWB (2008 Version) All Products, except Marquis 125
- Single Life Version Portfolio, sold after February
20, 2009
Lifetime GWB (2008 Version) Marquis Portfolios, sold after February 145
- Single Life Version 20, 2009
Lifetime GWB (2008 All Products, except Marquis 150
Version) - Joint Life Portfolio, sold after February
Version 20, 2009
Page 7 of 8
Lifetime GWB (2008 Marquis Portfolios, sold after February 170
Version) - Joint Life 20, 2009
Version
Lifetime LWG III-Single Life Simple Solutions 100
Version
Lifetime LWG III-Joint Life Simple Solutions 120
Version
D. ACCUMULATION PROGRAM
REINSURANCE PREMIUM
ACCUMULATION PROGRAM PRODUCTS COVERED (BASIS POINTS)
------------------------------- ------------------------------------------------ -------------------
Guaranteed Accumulation Benefit PEP Product 150.00
Guaranteed Accumulation Benefit All Other Products 75.00
Page 8 of 8
AMENDMENT NO. 16 TO
AUTOMATIC REINSURANCE AGREEMENT
EFFECTIVE AS OF APRIL 1, 2001
AMENDED AND RESTATED AS OF JULY 1, 2004
(Agreement)
between
METLIFE INVESTORS USA INSURANCE COMPANY
(Cedent)
and
EXETER REASSURANCE COMPANY, LTD.
(Reinsurer)
The Agreement is hereby amended, as of DECEMBER 31, 2010, as follows:
1. The parties agree, subject to and conditioned on the regulatory approval of
the reinsurance agreement with an effective date of January 1, 2011 between
MetLife Investors USA Insurance Company and MetLife Insurance Company of
Connecticut, to terminate reinsurance coverage on annuity contracts issued
on or after January 1, 2011.
This Amendment No. 16 does not alter, amend or modify the Agreement other than
as set forth herein, and the terms and conditions of the Agreement, as amended
herein, continue in effect without other change.
In Witness whereof, the parties have caused this Amendment No. 16 to be signed
in duplicate counterparts as of the date first above written.
METLIFE INVESTORS USA INSURANCE COMPANY
By: /s/ Xxxxxxx Xxxxx
-------------------------------------
Name: Xxxxxxx Xxxxx
Title: Vice President and Senior Actuary
EXETER REASSURANCE COMPANY, LTD.
By: /s/ Xxxxxxxxxxx Xxxxxx
-------------------------------------
Name: Xxxxxxxxxxx Xxxxxx
Title: Assistant Vice President and Actuary
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