Common use of Global Guidelines Clause in Contracts

Global Guidelines. All assets deposited into the trusts required by this Reinsurance Agreement shall be invested in eligible assets subject to the following global asset class investment guidelines. For the purposes of applying the global limits set forth below, the assets shall be aggregated across the two trusts required by this Reinsurance Agreement. If the global guidelines set forth below are more restrictive than those set forth in Section A or B of this Exhibit C, then the provisions of this Section C will govern. Conversely, if the regulations set forth in Section A of this Exhibit C preclude certain assets classes below, then they may only be present in the Supplemental Trust Account. High Yield 1.5% 10.0% MBS-non-agency 1.0% 15.0% Commodities (through ETF and Equities) 0.5% 5.0% Equities 1.5% 15.0% IG Corporate Obligations 3.0% 75.0% Commercial Real Estate 2.0% 15.0% CLOs (A, BBB) 1.0% 7.5% ABS / Secured Obligations of US Corporations See below 37.5% US Government Obligations N/A N/A US Municipal Obligations 3.0% 25% Derivatives (Hedging-only) Per Treaty 1. Within the ABS/Secured Obligations of US Corporations asset class, there are further diversification requirements with sub-asset classes/sector hard limits as follow: Physical Commodity Backed Obligations (20%), IG Receivables Backed Obligations (35%), BIG Receivables Backed Obligations w/ higher collateral value (25%), Loans Against Equity Positions (12.5%), Consumer Lending (25%), Other (10%). Single position limits shall not exceed 5.0% of total asset values in all sectors except Equity Lending which shall have a position limit of 1.5% of assets. 2. The above limits set forth in Section C apply to the combined assets held in the two trusts established pursuant to this Reinsurance Agreement. State and trust regulations and guidelines may apply to the individual trusts. Such regulations and guidelines shall supersede anything herein to the contrary.

Global Guidelines. All assets deposited into the trusts required by this Reinsurance Agreement shall be invested in eligible assets subject to the following global asset class investment guidelines. For the purposes of applying the global limits set forth below, the assets shall be aggregated across the two trusts required by this Reinsurance Agreement. If the global restrictions/guidelines set forth below are more restrictive than those set forth in Section A or B of this Exhibit CA, then the provisions of this Section C B will govern. Conversely, if All assets deposited into the regulations trusts required by the New York Reinsurance Agreement shall be invested in eligible assets subject to the following asset class investment restrictions/guidelines. For the purposes of applying the limits set forth in Section A of this Exhibit C preclude certain assets classes below, then they may only the allocations must be present in followed, individually, for each of the Supplemental Trust Accounttwo trusts required by the New York Reinsurance Agreement. High Yield 1.5% 10.025.0% MBS-non-agency 1.0% 15.0% Commodities (through ETF and Equities) 0.5% 5.0% Equities 1.5% 15.0% IG Corporate Obligations 3.0% 75.0% Commercial Real Estate 2.0% 15.0% CLOs (A, BBB) 1.0% 7.5% ABS / Secured Obligations of US Corporations See below 37.5% US Government Obligations N/A N/A US Municipal Obligations 3.0% 2520% Derivatives (Hedging-only) Per Treaty 1. Within the ABS/Secured Obligations of US Corporations asset class, there are further diversification requirements with sub-asset classes/sector hard limits as followfollows: Physical Commodity Backed Obligations (20%), IG Receivables Backed Obligations (35%), BIG Receivables Backed Obligations w/ higher collateral value (25%), Loans Against Equity Positions (12.5%), Consumer Lending (25%), Other (10%). Single position limits shall not exceed 5.0% of total asset values in all sectors except Equity Lending which shall have a position limit of 1.5% of assets. 2. The above limits set forth in Section C B apply to the combined assets held in each of the two trusts established pursuant to this the New York Reinsurance Agreement. State and trust regulations and guidelines may apply to have different limitations, and shall always supersede the individual trusts. Such regulations allocations described in this Section B. For instance, the Reg 114 Trust Account shall only hold assets within the classes of investments set forth in paragraphs (1), (2), (3), (8) and guidelines (10) of Section 1404(a) the New York Insurance Law and nothing in this Section B shall supersede anything herein be construed to the contrary. 3. Position limits are enforced at the time of investment and are grandfathered as reserves decline over time. 4. Grantor shall give notice to Beneficiary and seek consent to enter new classes or change a restriction. Such consent will take into account investment strategy, market dynamics, collateral considerations and regulatory reserve credit requirements and shall not be unreasonably withheld based on facts available at that time. Beneficary’s Affiliate, 40|86 Advisors, Inc., shall be the exclusive sub-advisor to manage sub-advised allocations to CRE loans and CLO’s, if any, for an initial twenty-four (24) month period from the time of Closing. After such initial twenty-four (24) month period has expired, the Parties will discuss in good faith extending 40|86 Advisors, Inc.’s management of the CRE loans and CLOs, such extension subject to the mutual agreement of the Parties. In no event will any investment be made in an affiliate or subsidiary or a security thereof that is not in compliance with New York Insurance Law.

Global Guidelines. All assets deposited into the trusts required by this the Reinsurance Agreement shall be invested in eligible assets subject to the following global asset class investment guidelines. For the purposes of applying the global limits set forth below, the assets shall be aggregated across the two trusts required by this the Reinsurance Agreement. If the global guidelines set forth below are more restrictive than those set forth in Section A or B of this Exhibit CA, then the provisions of this Section C B will govern. Conversely, if the regulations set forth in Section A of this Exhibit C preclude certain assets classes below, then they may only be present in the Supplemental Trust Account. High Yield 1.5% 10.0% MBS-non-agency 1.0% 15.0% Commodities (through ETF and Equities) 0.5% 5.0% Equities 1.5% 15.0% IG Corporate Obligations 3.0% 75.0% Commercial Real Estate 2.0% 15.0% CLOs (A, BBB) 1.0% 7.5% ABS / Secured Obligations of US Corporations See below 37.5% US Government Obligations N/A N/A US Municipal Obligations 3.0% 25% Derivatives (Hedging-only) Per Treaty 1. Within the ABS/Secured Obligations of US Corporations asset class, there are further diversification requirements with sub-asset classes/sector hard limits as follow: Physical Commodity Backed Obligations (20%), IG Receivables Backed Obligations (35%), BIG Receivables Backed Obligations w/ higher collateral value (25%), Loans Against Equity Positions (12.5%), Consumer Lending (25%), Other (10%). Single position limits shall not exceed 5.0% of total asset values in all sectors except Equity Lending which shall have a position limit of 1.5% of assets. 2. The above limits set forth in Section C B apply to the combined assets held in the two trusts established pursuant to this the Reinsurance Agreement. State and trust regulations and guidelines may apply to the individual trusts. Such regulations and guidelines shall supersede anything herein to the contrary. 3. Position limits are enforced at the time of investment and are grandfathered as reserves decline over time. 4. Grantor shall give notice to Beneficiary and seek consent to enter new classes or change a restriction. Such consent will take into account investment strategy, market dynamics, collateral considerations and regulatory reserve credit requirements and shall not be unreasonably withheld based on facts available at that time. Beneficiary’s Affiliate, 40|86 Advisors, Inc., shall be the exclusive sub-advisor to manage sub-advised allocations to CRE loans and CLO’s, if any, for an initial twenty-four (24) month period from the time of Closing. After such initial twenty-four (24) month period has expired, the Parties will discuss in good faith extending 40|86 Advisors, Inc.’s management of the CRE loans and CLOs, such extension subject to the mutual agreement of the Parties. No more than 5% of the Trust Assets may be invested in an affiliated or subsidiary company or the securities thereof, except where such an investment is permitted pursuant to the provisions of the Indiana Insurance Law and upon the specific authorization or ratification of the Board of Directors or the Investment Committee of the Board of Beneficiary. In no event will any investment be made in an affiliate or subsidiary or a security thereof that is not in compliance with Indiana Insurance Law.