LH01-030C 05/02/01
AMENDMENT NO. 5
The Automatic Coinsurance Reinsurance Agreement (Document No. L97-0263) of April
16, 1997, between EMPLOYERS REASSURANCE CORPORATION of Overland Park, Kansas and
THE OHIO STATE LIFE INSURANCE COMPANY of Columbus, Ohio, is hereby amended as
follows:
I. As respects policies issued by the Reinsured to become effective on and
after the effective date of this agreement, the following expense
commissions shall apply only with respect to the first policy quarter
rather than the expense commission shown in Exhibit A:
Plan Amount per Policy
Life $140
Annuity $50
II. Effective October 1, 2000:
A. The definition of "Escrow Account", as amended by Amendment No. 2, is
deleted from Article VI and the following definition is substituted
therefor:
The term "Escrow Account" means:
(a) 30% of the assets pertaining to this agreement and the
Investors Guaranty Treaty received and held by Bankers
Trust Company of New York, New York pursuant to its Escrow
Agreement (formerly Ohio State/Investors Guaranty
Business/now ERC Assets) of May 21, 1997 with the
Corporation and The College Life Insurance Company or its
successor; and
(b) 70% of the assets pertaining to this agreement and the
Investors Guaranty Treaty received and held by State
Street Bank and Trust Company pursuant to its Custodian
Agreement (formerly Fremont Assets/now Contingent Xxxxxxx
Assets) of January 14, 2000 with the Corporation and The
College Life Insurance Company or its successor.
B. Article XVIII is deleted and the following Article XVIII is substituted
therefor:
ARTICLE XVIII
ASSIGNMENTS AND CHANGES OF INTEREST. No assignment or change of
either party's interest hereunder, whether voluntary or
involuntary and whether by merger of reinsurance of its entire
business with another company or otherwise, shall be binding
upon the other party, provided that this article does not apply
to the assignment the Corporation will make during or after 2003
of 70% of its interests and liabilities as the reinsurer to
Great Southern Life
Insurance Company (or its designated affiliate), but only if The
College Life Insurance Company of America (or its successor or
designated affiliate) is then assuming the policies from the
Corporation on a 100% coinsurance basis.
In all other respects not inconsistent herewith, said agreement shall remain
unchanged.
IN WITNESS WHEREOF, the parties hereto have caused this amendment to be executed
in duplicate.
THE OHIO STATE EMPLOYERS REASSURANCE
LIFE INSURANCE COMPANY CORPORATION
By:______________________________ By:__________________________________
Title:___________________________ Title:_______________________________
Date:____________________________ Date:________________________________
