AMENDMENT No. 1
EFFECTIVE OCTOBER 1, 2010
to the
REINSURANCE AGREEMENT
EFFECTIVE APRIL 1, 2010
between
METLIFE INVESTORS USA INSURANCE COMPANY
(hereinafter referred to as "the Ceding Company")
and
EXETER REASSURANCE COMPANY, LTD.
(hereinafter referred to as "the Reinsurer")
WHEREAS, the Ceding Company and the Reinsurer wish to amend the Agreement to
update the description of the allowances to reflect the original intent of the
parties.
NOW THEREFORE, the Agreement is hereby amended as follows:
1. Effective April 1, 2010, the Schedule E, Allowances, is hereby
replaced by the attached Schedule E, Allowances
All terms, provisions, and conditions of this Agreement will continue unchanged
except as specifically revised in this Amendment.
In witness whereof, the parties have caused this Amendment to be signed in
duplicate counterparts as of the date first above written.
METLIFE INVESTORS USA INSURANCE COMPANY
By: /s/ Xxxxxxxxxxx Xxxxxx
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Name: Xxxxxxxxxxx Xxxxxx
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Title: Vice President
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EXETER REASSURANCE COMPANY, LTD.
By: /s/ Xxxxxxx Xxxxx
------------------------------------
Name: Xxxxxxx Xxxxx
----------------------------------
Title: President
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SCHEDULE E ALLOWANCES
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1. Ceding Allowance. None.
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2. Commission Allowance. The Reinsurer shall pay the Ceding Company a
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Commission Allowance equal to 2.5% of the gross Policy premiums and
deposits collected during the Accounting Period with respect to the
Policies for years 2 and later.
3. Maintenance Expense Allowance. The Reinsurer shall indemnify the Ceding
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Company for its quota share of the expenses incurred in connection with
ongoing maintenance and administration of the Policies. The expenses
incurred in connection with ongoing maintenance and administration of the
Policies shall be equal to (a) + (b), where:
(a) 0.107% multiplied by 1/4th of the average aggregate account value
--- for the Account Period.
(b) 1/4th multiplied by $175 per policy increasing 3% per year
---
Such expenses shall not include expenses incurred in the course of issuing
Policies or commissions paid with respect to the Policies.
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