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EXHIBIT 10.35
AMENDMENT I
Agreement effective as of January 1, 1997, by and between The Guardian
Insurance & Annuity Company, whose address is 0000 Xxxxxxx Xxxxx, Xxxxxxxxx,
Xxxxxxxxxxxx 00000 (the "Company"), and Standard Life Insurance Company of
Indiana, whose address is 0000 Xxxxxxxx Xxxxxxxx, Xxxxx 000, Xxxxxxxxxxxx, XX
00000 (the "Reinsurer").
WITNESSETH:
WHEREAS, Company and Reinsurer entered into a Modified Coinsurance
Agreement effective as of January 1, 1996, as modified by various Amendments
(the "Agreement") in which the Company agreed to reinsure with Reinsurer the
risks under the policies described therein on the terms and conditions stated in
the Agreement; and
WHEREAS, Reinsurer and Company have agreed to terminate Block I portion of
the Agreement, as described in Schedule A, according to the terms and conditions
contained herein;
NOW, THEREFORE, in consideration of the mutual covenants contained herein,
the parties hereto agree as follows:
1. The Company and the Reinsurer hereby agree that the Block I portion of
the Agreement is terminated effective the 1st day of January, 1997 ( the
"Termination Date"), and all liability and obligations of Reinsurer and the
Company pursuant to the Agreement arising from events occurring after the
Termination Date are terminated as of the Termination Date.
2. The Company and the Reinsurer hereby agree that as of the Termination
Date amounts due either party are as described under the provisions of Article
XIII. Further, as of the Termination Date, the Company and the Reinsurer hereby
waive any rights to a supplementary accounting and settlement otherwise
permitted under the terms of Article XIII, of the Agreement.
3. Effective as of the Termination Date, the Company and the Reinsurer
waive and release any and all right, interest, liability or claim of any kind or
nature arising under or by virtue of the Agreement by virtue of acts or events
occurring after the Termination Date.
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IN WITNESS WHEREOF, the parties have executed this Agreement to be
effective as of the day and year first above written.
REINSURER:
STANDARD LIFE INSURANCE COMPANY OF INDIANA
ATTEST:
/s/ XXXXX X. XXXXXX By: /s/ XXXXXX X. XXXXX
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Its: Vice President & Controller
----------------------------------------------------- Its: EVP & Secretary
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COMPANY:
THE GUARDIAN INSURANCE & ANNUITY COMPANY,
INCORPORATED
ATTEST:
/s/ XXXXX XXXX By: /s/ XXXX X. XXXXX
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Its: Project Mgr.
------------------------------------------------- Its: Executive Vice President
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