Document:

Exhibit
10.10-b

 

FIRST AMENDMENT TO

 

COINSURANCE AGREEMENT

 

This First Amendment to
the Coinsurance Agreement (“First Amendment”) effective January 1, 2004, by and
between EquiTrust Life Insurance Company (“Reinsurer”) and American Equity
Investment Life Insurance Company (“Company”) shall be effective August 1,
2004.

 

WHEREAS, the Reinsurer
and Company wish to amend the Coinsurance Agreement entered into between the
parties with an effective date of January 1, 2004 (the “Coinsurance
Agreement”).

 

NOW, THEREFORE, the
Coinsurance Agreement is hereby amended as follows:

 

1.  Schedule A entitled CONTRACTS AND RISK
REINSURED shall be deleted in its entirety and replaced with the First
Amendment to Schedule A, a copy of which is attached hereto as Exhibit 1.

 

2.  In all other respects, the Coinsurance
Agreement shall remain in full force and effect.

 

IN WITNESS WHEREOF, the
parties have executed this First Amendment effective August 1, 2004.

 

	
  EQUITRUST

  	
  AMERICAN EQUITY INVESTMENT

  
	
  LIFE INSURANCE COMPANY

  	
   

  	
  LIFE INSURANCE COMPANY

  
	
   

  	
   

  	
   

  	
   

  
	
  By:

  	
   /s/ William J.
  Oddy

  	
   

  	
   

  	
  By:

  	
   /s/ D.J. Noble

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  Name: William J. Oddy

  	
   

  	
  Name: D.J. Noble

  
	
   

  	
   

  	
   

  
	
  Title: Chief Executive
  Officer

  	
  Title: Chief Executive
  Officer

  
	
   

  	
   

  	
   

  	
   

  
	
  Date:

  	
  7/30/2004

  	
   

  	
   

  	
  Date:

  	
  7/30/2004

  	
   

  
										

 

 

FIRST AMENDMENT TO

 

SCHEDULE A

 

CONTRACTS AND
RISKS REINSURED

 

Company agrees to cede to
the Reinsurer, and the Reinsurer agrees to accept from the Company the Quota
Share reinsurance participation for the risks as scheduled below that are not
currently reinsured under another agreement:

 

Beginning January 1, 2004
through the end of business on July 31, 2004, the Quota Share will equal
20%.  Thereafter, the Quota Share, shall
equal 0% until such time as the parties agree to resume ceding/assuming new
business and amend this Schedule A accordingly.

 

Reinsured Contracts

 

	
  BRAVO

  	
   

  	
  INDEX-12

  	
   

  	
  INDEX-28

  
	
  FPDA-1(3%)

  	
   

  	
  INDEX-13

  	
   

  	
  INDEX-29

  
	
  FPDA-3

  	
   

  	
  INDEX-15

  	
   

  	
  INDEX-30

  
	
  FPDA-4

  	
   

  	
  INDEX-16

  	
   

  	
  INDEX-5

  
	
  FPDA-6

  	
   

  	
  INDEX-17

  	
   

  	
  INDEX-6

  
	
  FPDA-7

  	
   

  	
  INDEX-18

  	
   

  	
  INDEX-8

  
	
  FPDA-8

  	
   

  	
  INDEX-19

  	
   

  	
  INDEXP3

  
	
  I-2000

  	
   

  	
  INDEX-22

  	
   

  	
  SUPER-7

  
	
  I-2001

  	
   

  	
  INDEX-23

  	
   

  	
  SPDA-1

  
	
  I-2002

  	
   

  	
  INDEX-24

  	
   

  	
  SPDA-2

  
	
  INDEX

  	
   

  	
  INDEX-25

  	
   

  	
  SPDA-5

  
	
  INDEX-1

  	
   

  	
  INDEX-26

  	
   

  	
   

  
	
  INDEX-10

  	
   

  	
  INDEX-27

  	
   

  	
   

  

 

State variations of the
listed products are included under this agreement

 

Effective date of this
Schedule: Policies issued beginning January 1, 2004, and ending on July 31,
2004.Exhibit 10.19

 

FOURTH AMENDMENT TO

AMENDED AND RESTATED CREDIT AGREEMENT

 

THIS FOURTH AMENDMENT (this “Amendment”), dated as of June 30, 2004,
amends and modifies a certain Amended and Restated Credit Agreement, dated as
of December 30, 2002, as amended by an Amendment dated as of August 14, 2003,
October 24, 2003 and December 31, 2003 (as so amended, the “Credit Agreement”),
between AMERICAN EQUITY INVESTMENT LIFE HOLDING COMPANY, an Iowa corporation
(the “Borrower”) and U.S. BANK NATIONAL ASSOCIATION, a national banking
association, as Agent and as the sole Bank. 
Terms not otherwise expressly defined herein shall have the meanings set
forth in the Credit Agreement.

 

FOR VALUE RECEIVED, the Borrower, the Banks and the Agent agree that
the Credit Agreement is amended as follows:

 

ARTICLE I - AMENDMENTS TO THE CREDIT
AGREEMENT

 

1.1  Repayment.  Section 4.1(b)(ii) is amended by deleting
“June 30, 2004” and inserting “August 31, 2004” in place thereof.   The effect of such amendment is to delay
the payment date of the installment of the Tranche B Loans otherwise due on
June 30, 2004 until August 31, 2004.

 

1.2  Note.  The changes to the installment payment date
provided above shall be given effect for purposes of payment requirements under
the Tranche B Note held by U.S. Bank National Association.

 

1.3  Construction.  All references in the Credit Agreement to
“this Agreement”, “herein” and similar references shall be deemed to refer to
the Credit Agreement as amended by this Amendment.

 

ARTICLE II - REPRESENTATIONS AND WARRANTIES

 

To induce the Agent and the Banks to enter into this Amendment and to
make and maintain the Loans under the Credit Agreement as amended hereby, the
Borrower hereby warrants and represents to the Agent and the Banks that it is
duly authorized to execute and deliver this Amendment, and to perform its
obligations under the Credit Agreement as amended hereby, and that this
Amendment constitutes the legal, valid and binding obligation of the Borrower,
enforceable in accordance with its terms.

 

ARTICLE III - CONDITIONS

 

This Amendment shall become effective on the date first set forth
above, provided, however, that the effectiveness of this Amendment is subject
to the satisfaction of each of the following conditions precedent:

 

3.1  Warranties.  After giving effect to this Amendment, the
representations and warranties in Article VII of the Credit Agreement
shall be true and correct as though made on the

 

 

date hereof, except for changes that are permitted by the terms of the
Credit Agreement.  The execution by the
Borrower of this Amendment shall be deemed a representation that the Borrower
has complied with the foregoing condition.

 

3.2  Defaults.  After giving effect to this Amendment, no
Default and no Event of Default shall have occurred and be continuing under the
Credit Agreement.  The execution by the
Borrower of this Amendment shall be deemed a representation that the Borrower
has complied with the foregoing condition.

 

3.3  Documents.

 

(a)  The Borrower, the Agent and
the Banks shall have executed and delivered this Amendment; and

 

(b) AEISC and AEILIC shall have executed and delivered the
Acknowledgements attached hereto.

 

ARTICLE IV - GENERAL

 

4.1 Expenses.  The
Borrower agrees to reimburse the Agent upon demand for all reasonable expenses
(including reasonable attorneys’ fees and legal expenses) incurred by this
Agent in the preparation, negotiation and execution of this Amendment and any
other document required to be furnished herewith, and in enforcing the
obligations of the Borrower hereunder, and to pay and save the Agent harmless
from all liability for, any stamp or other taxes which may be payable with
respect to the execution or delivery of this Amendment and the Notes hereunder,
which obligations of the Borrower shall survive any termination of the Credit
Agreement.

 

4.2 Counterparts.  This
Amendment may be executed in as many counterparts as may be deemed necessary or
convenient, and by the different parties hereto on separate counterparts, each
of which, when so executed, shall be deemed an original but all such
counterparts shall constitute but one and the same instrument.

 

4.3 Severability.  Any
provision of this Amendment which is prohibited or unenforceable in any
jurisdiction shall, as to such jurisdiction, be ineffective to the extent of
such prohibition or unenforceability without invalidating the remaining
portions hereof or affecting the validity or enforceability of such provisions
in any other jurisdiction.

 

4.4 Law.  This Amendment
shall be a contract made under the laws of the State of Minnesota, which laws
shall govern all the rights and duties hereunder.

 

4.5 Successors; Enforceability. 
This Amendment shall be binding upon the Borrower, the Banks, the Agents
and their respective successors and assigns, and shall inure to the benefit of
the Borrower, the Agents, the Banks and the successors and assigns of the Banks
and the Agents.  Except as hereby
amended, the Credit Agreement shall remain in full force and effect and is hereby
ratified and confirmed in all respects.

 

2

 

IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be
executed at Minneapolis, Minnesota by their respective officers thereunto duly
authorized as of the date first written above.

 

	
   

  	
  AMERICAN EQUITY INVESTMENT LIFE

  HOLDING COMPANY

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
  By:

  	
   /s/ Wendy L. Carlson

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
  Title:

  	
    CFO & General Counsel

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
  U.S. BANK NATIONAL ASSOCIATION, as
 Agent and as a Bank

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
  By:

  	
   /s/ Ziad Amra

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
  Title:

  	
   Senior Vice President

  	
   

  
											

 

3

 

ACKNOWLEDGMENT

 

The undersigned has entered into a Fourth Amended and Restated Security
Agreement, dated as of April 6, 2000 (the “Security Agreement”) in favor of
U.S. Bank National Association, as Agent for the Banks securing the
“Obligations” as defined in the Credit Agreement (defined in the foregoing
Amendment).  The undersigned hereby
acknowledges that the “Obligations” include the obligations of the Borrower
under the Credit Agreement as amended by the foregoing Amendment.  The undersigned hereby confirms that the
Security Agreement remains in full force and effect, enforceable against the
undersigned in accordance with its terms.

 

Dated as of June 30, 2004

 

	
   

  	
   

  	
   

  	
   

  	
   

  	
  AMERICAN EQUITY INVESTMENT SERVICE

  COMPANY

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
  By:

  	
  /s/ D.J. Noble

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
  Title:

  	
    President

  	
   

  	
   

  
											

 

 

ACKNOWLEDGMENT

 

The undersigned has entered into a Consent and Agreement to Security
Agreement, dated as of April 6, 2000 (the “Consent”) in favor of U.S. Bank
National Association, as Agent for the Banks. 
The undersigned hereby acknowledges that the “Obligations” specified in
the Consent include the obligations of the Borrower under the Credit Agreement
as amended by the foregoing Amendment. 
The undersigned hereby confirms that the Consent remains in full force
and effect, enforceable against the undersigned in accordance with its terms.

 

Dated as of June 30, 2004

 

	
   

  	
   

  	
   

  	
  AMERICAN EQUITY INVESTMENT LIFE

  INSURANCE COMPANY

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
  By:

  	
  /s/ D.J. Noble

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
  Title:

  	
   CEO

  	
   

  
									

 

4

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