January 11, 1999









 








Exhibit 10(9)


 


 EXECUTION COPY


 


CMA TERMINATION AGREEMENT


 


This Termination Agreement (this “Agreement”), is
made, entered into and effective as of October 31, 2014,
by and between American International Group, Inc., a corporation organized
under the laws of the State of Delaware (“AIG”), and The United States Life
Insurance Company in the City of New York, a corporation organized under the
laws of the State of New York (the “Company”).  The Company and AIG are collectively
referred to herein as the “Parties” and each, as a “Party”.


 


WITNESSETH:


 


WHEREAS, the Company is an indirect, wholly owned
subsidiary of AIG, and is a party to that certain Amended and Restated Unconditional
Capital Maintenance Agreement, entered into and effective as of February 18,
2014, with AIG (the “CMA”), pursuant to which AIG agreed to, among other
things, maintain the total adjusted capital of the Company at or above a
specified minimum percentage as stated therein; and


 


WHEREAS, the Parties acknowledge that AIG and its
consolidated subsidiaries generally manage capital between AIG and its
insurance subsidiaries (including the Company) through internal policies and guidelines approved by AIG’s Board of Directors,
and, as such, are mutually agreeing to terminate the CMA in accordance with the
terms herein.


 


NOW, THEREFORE, in consideration of the mutual
promises herein contained, the Parties hereto agree as follows:


 


1.                 
CMA Termination.  The CMA is hereby terminated in its entirety effective
immediately.  Further, the Parties mutually agree that termination of the CMA
as provided for herein shall be, and is hereby, deemed as a termination made under
paragraph 7 of the CMA.  


 


2.                 
Entire Agreement; Successors.  This Agreement constitutes the entire agreement
between the Parties with respect to the subject matter hereof and supersedes
all prior and contemporaneous agreements, understandings, negotiations and
discussion, whether oral or written, of the Parties.  The agreements herein set
forth shall be mutually binding upon and inure to the mutual benefit of the
Parties and their respective successors.


 


3.                 
Governing Law; Severability.  This Agreement shall be governed by and construed
in accordance with the laws of New York without giving effect to the principles
of conflict of laws.  If any provision of this Agreement shall be declared
null, void or unenforceable in whole or in part by any court, arbitrator or
governmental agency, said provision shall survive to the extent it is not so
declared and all the other provisions of this Agreement shall remain in full
force and effect unless, in each case, such declaration shall serve to deprive either
Party of the fundamental benefits of or rights under this Agreement.


 


4.                 
Headings; Counterparts.  The section headings contained in this Agreement
are inserted for convenience only and shall not affect in any way the meaning
or interpretation of this 







 


















EXECUTION

COPY








Agreement.  This Agreement
may be signed by the Parties in one or more counterparts which together shall
constitute one and the same agreement among the Parties.


 


 


IN WITNESS WHEREOF, the Parties have caused this
Agreement to be duly executed by their respective authorized officers as of the
day and year first above written.


 


 


 


 


AMERICAN INTERNATIONAL GROUP,
INC.


 


 


By:_/s/ Charles S. Shamieh
__________________ 


Name:  Charles S. Shamieh


Title:   Senior Vice
President and Chief Corporate Actuary


 


 


 


THE UNITED STATES LIFE
INSURANCE COMPANY IN THE CITY OF NEW YORK


 


 


By: _/s/ Mary Jane Fortin_____________________ 


Name:  Mary Jane Fortin


Title:   Executive Vice
President & Chief Financial Officer