AMENDMENT
to the Risk Premium Reinsurance Agreement (the "Agreement")
effective September 1, 1983, between
CENTURY LIFE OF AMERICA of Waverly, Iowa,
hereinafter referred to as the "REINSURED,"
and
THE LINCOLN NATIONAL LIFE INSURANCE COMPANY of Fort Xxxxx, Indiana,
hereinafter referred to as the "LINCOLN."
1. On and after the first day of September, 1983, paragraph 7 of the
"REINSURANCE COVERAGE" article of the Agreement shall be replaced with the
following:
"Life and Disability reinsurance under any one policy shall be terminated
at the end of the year preceding the first year for which the amount at
risk on the policy is less than $2,500, provided that the reinsurance has
been in force for at least five (5) years before it is so terminated;
Accidental Death reinsurance shall not be so terminated. The amount of
reinsurance under this Agreement shall otherwise be maintained in force
without reduction so long as the amount of insurance carried by the
REINSURED on the life remains in force without reduction, except as
provided in the "PAYMENT OF REINSURANCE PREMIUMS" and "INCREASE IN LIMIT OF
RETENTION" articles."
2. On and after the first day of September, 1983, the "MISCELLANEOUS"
article shall be added to the Agreement and shall read as follows:
"MISCELLANEOUS
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1. This Agreement represents the entire agreement between the
REINSURED and LINCOLN and supercedes, with respect to its subject matter,
any prior oral or written agreements between the parties.
2. No modification of any provision of this Agreement shall be
effective unless set forth in a written amendment to this Agreement which
is executed by both parties.
3. A waiver shall constitute a waiver only with respect to the
particular circumstances for which it is given and not a waiver of any
future circumstance."
3. The provisions of this amendment shall be subject to all the terms and
conditions of the Agreement which do not conflict with the terms hereof.
IN WITNESS WHEREOF the parties hereto have caused this amendment to be
executed in duplicate on the dates shown below.
CENTURY LIFE OF AMERICA
Signed at /s/ Waverly, Iowa
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By /s/ Xxxxxx X. Xxxxxxxxxx By /s/ Xxxxxxx X. Xxxxxx
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Title Vice President Title Secretary
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Date June 14, 1994 Date June 14, 1994
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THE LINCOLN NATIONAL LIFE INSURANCE COMPANY
Signed at Fort xxxxx, Indiana
By /s/ Xxxx Xxxxxx By /s/ Signature
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Second Vice President Assistant Secretary
Date 6/22/94 Date 6/20/94
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