March 30, 2012
Exhibit 10.11
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March 30, 2012 |
Western National Life Insurance Company
0000 Xxxxx Xxxxxxx
Xxxxxxx, XX 00000
Attention: Secretary
Western National Life Insurance Company
0000 Xxxxx Xxxxxxx
Xxxxxxx, XX 00000
Attention: General Counsel
Ladies and Gentlemen:
Reference is made to that certain Unconditional Capital Maintenance Agreement dated as of March 30, 2011 (the “Capital Maintenance Agreement”) by and between American International Group, Inc. and Western National Life Insurance Company (the “Company”). Capitalized terms, unless otherwise defined herein, shall have the meanings set forth in the Capital Maintenance Agreement.
Pursuant to paragraph 3 of the Capital Maintenance Agreement, the undersigned parties hereby agree that effective as of March 30, 2012, the Specified Minimum Percentage shall equal 435%. Accordingly, Schedule 1 to the Capital Maintenance Agreement shall be restated as follows:
“The Specified Minimum Percentage shall equal 435% of the Company’s Company Action Level RBC.”
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Yours sincerely, | |||||
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AMERICAN INTERNATIONAL GROUP, INC. | |||||
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By: |
/s/ Xxxxx X. Xxxxxx | ||||
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Name: |
Xxxxx X. Xxxxxx | |||
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Title: |
Executive Vice President and | |||
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Chief Financial Officer | |||
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Acknowledged and agreed: |
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WESTERN NATIONAL LIFE INSURANCE COMPANY |
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By: |
/s/ Xxxxxxx X. Xxxxx |
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Name: |
Xxxxxxx X. Xxxxx |
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Title: |
Executive Vice President |
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