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AMENDMENT NO. 5
to the Variable Annuity Reinsurance Agreement Effective July 1, 1995
between
CONNECTICUT GENERAL LIFE INSURANCE COMPANY
(hereinafter referred to as Connecticut General)
and
THE MANUFACTURERS LIFE INSURANCE COMPANY OF NORTH AMERICA
(hereinafter referred to as MNA)
It is agreed by the two companies to amend the Agreement effective July 1, 1998
as follows:
1. ARTICLE V entitled REINSURANCE PREMIUMS shall be amended as follows:
8. Efective for new business written on and after July 1,
1998, the reinsurance premiums shall be calculated as a fund/exposure
based charge with the actual death benefit exposure for annuitants
calculated. A table of quarterly reinsurance rates as identified in
Schedule D shall be applied to the exposure to determine the
reinsurance premium. The actual quarterly premium is then subject to a
minimum or maximum determined as basis points (bps) of Contract Value.
Fund based charges, expressed as an annual rate are shown below:
Attained Ages Minimum Maximum
------------- ------- -------
0-69 3.0 bps 8.0 bps
70+ 8.0 bps 20.0 bps
A. Effective for new contracts sold on and after July
1, 1998, should Premium for reinsurance exceed five million
dollars ($5,000,000) in any contract year, Connecticut General
reserves the right to modify the reinsurance rates set forth
herein. Notwithstanding any other provisions, any change in
reinsurance rates shall be effective on the same date that
MNA's Premium exceeds the limits defined herein.
2. Paragraph A of ARTICLE XVIII entitled EFFECTIVE DATE, TERM AND TERMINATION
shall be amended as follows:
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The Manufacturers Life Insurance
Company of North America
Ven 3 Treaty Effective July 1, 1995
Amendment No. 5 Effective July 1, 1998
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A. The effective date of this Agreement is July 1, 1995. This
Agreement is hereby extended for a three year period and shall remain
effective for all annuity contracts subject to this Agreement written
by MNA through June 30, 2001, unless terminated pursuant to the
paragraphs listed below:
All other terms and conditions of Articles V and XVIII and this Agreement, as
amended, shall remain unchanged and in full force and effect.
In witness whereof, this Amendment is signed in duplicate on the dates indicated
at the home office of each company.
CONNECTICUT GENERAL LIFE THE MANUFACTURERS LIFE INSURANCE
INSURANCE COMPANY COMPANY OF NORTH AMERICA
By: _____________________________ By: ________________________________
Date: ____________________________ Date: ______________________________
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The Manufacturers Life Insurance
Company of North America
Ven 3 Treaty Effective July 1, 1995
Amendment No. 5 Effective July 1, 1998
