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Exhibit 10.2

AMENDMENT NO. 1 TO
COINSURANCE AGREEMENT

This AMENDMENT NO. 1 TO COINSURANCE AGREEMENT (this “Amendment”), is made and entered into as of September 30, 2020, by and between Jackson National Life Insurance Company, a Michigan life insurance company (the “Cedant”), and Athene Life Re Ltd., a Class E insurer under the Bermuda Insurance Act 1978 (the “Reinsurer”).
PRELIMINARY STATEMENTS

A.        The parties entered into that certain Coinsurance Agreement, dated as of June 18, 2020 (the “Coinsurance Agreement”); and

B.        In connection with the Cedant’s, the Reinsurer’s and the Investment Manager’s discussions concerning the preparation of Required Hedge Documentation (as defined below) with IMA Hedge Counterparties (as defined below) that are subject to the approval of the Company in accordance with the Hedge Guidelines (as defined below), the Cedant and the Reinsurer desire to amend the Coinsurance Agreement pursuant to Section 18.07 of the Coinsurance Agreement as set forth in this Amendment.

NOW, THEREFORE, in consideration of the mutual promises and covenants contained herein, the parties to this Amendment agree as follows:

ARTICLE I 
AMENDMENTS

Section 1.01    Amendment to Section 1.01. Section 1.01 of the Coinsurance Agreement is hereby amended by adding the following defined terms in their alphabetical order:

“Excess Margin Collateral” means (i) the amount of additional collateral, if any, required to be posted by the Funds Withheld Account under the Required Hedge Documentation in favor of the applicable IMA Hedge Counterparty as a result of the use of corporate bonds or any other assets (other than cash) to satisfy all margin collateral requirements for Hedges in excess of the collateral that would otherwise be required to be posted by the Funds Withheld Account in favor of the applicable IMA Hedge Counterparty if only cash collateral was utilized to satisfy such IMA Hedge Counterparty’s margin collateral requirements, plus (ii) without duplication of the amount under clause (i), the amount posted by the Funds Withheld Account under the Required Hedge Documentation in favor of the applicable IMA Hedge Counterparty to satisfy any initial margin required for the Hedges under such Required Hedge Documentation. 

“Hedges” shall have the meaning ascribed thereto in the Investment Management Agreement.

“Hedge Guidelines” shall have the meaning ascribed thereto in the Investment Management Agreement.

“IMA Hedge Counterparties” shall have the meaning ascribed thereto in the Investment Management Agreement.

“Required Hedge Documentation” shall have the meaning ascribed thereto in the Investment Management Agreement.

Section 1.02    Amendment to the definition of “Required Trust Balance”. The definition of “Required Trust Balance” set forth in Section 1.01 of the Coinsurance Agreement is hereby replaced in its entirety by the following:

“Required Trust Balance” means, as of any date of determination, an amount equal to (a) (i) the Required Trust Percentage multiplied by (ii) (A) the Reserves as of such date of determination (as set forth in the report delivered by the Cedant to the Reinsurer pursuant to Section 5.02(b)), plus (B) (x) prior to the occurrence of a Triggering Event, the Ceded IMR (as set forth in the report delivered by the Cedant to the Reinsurer pursuant to 
Strictly Confidential

Section 5.02(b)) and (y) during the continuance of a Triggering Event, the Triggering Event IMR (as set forth in the report delivered by the Cedant to the Reinsurer pursuant to Section 5.02(b)), minus (b) the Maximum Additional Letter of Credit Amount, minus (c) the aggregate purchase cost as of such date of determination of any in-force Reinsurer Hedges (as set forth in the report delivered by the Reinsurer to the Cedant pursuant to Section 5.01(c)), minus (d) an amount equal to the excess of (i) the aggregate face amount of any Letters of Credit as of such date of determination over (ii) the Additional Letter of Credit Amount as of such date of determination, minus (e) the Funds Withheld Balance, minus (f) the aggregate remaining unamortized balance of all Excess Loss Payments, if any, as of such date of determination, plus (g) the Excess Margin Collateral as of such date of determination (as set forth in the report delivered by the Cedant to the Reinsurer pursuant to Section 5.02(b)).

Section 1.03    Amendment to Schedule 5.02(b)(ii). Schedule 5.02(b)(ii) to the Coinsurance Agreement (the Required Balance Statement) is hereby replaced in its entirety by Schedule 5.02(b)(ii) attached hereto.

Section 1.04    Amendment to Exhibits C-1 and C-2. Exhibit C-1 (Funds Withheld Investment Guidelines (Pre-Triggering Event)) and Exhibit C-2 Funds Withheld Investment Guidelines (Post-Triggering Event) to the Coinsurance Agreement are hereby replaced in their entirety by Exhibit C-1 and Exhibit C-2, respectively, attached hereto.

ARTICLE II 
GENERAL PROVISIONS

Section 2.01    Defined Terms. Capitalized terms used in this Amendment that are not defined herein shall have the respective meanings ascribed to them in the Coinsurance Agreement.

Section 2.02    General Provisions. The general provisions set forth in Article XVIII of the Coinsurance Agreement are incorporated herein by reference to the extent applicable, and shall apply to this Amendment mutatis mutandis.

Section 2.03    Ratification. Except as amended hereby, the Coinsurance Agreement shall continue in full force and effect. The Cedant and the Reinsurer hereby expressly ratify and confirm the Coinsurance Agreement as modified hereby.

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IN WITNESS WHEREOF, the parties hereby execute this Amendment as of the date first set forth above.

JACKSON NATIONAL LIFE INSURANCE COMPANY
By:    /s/ Kenneth H. Stewart                                                
Name: Kenneth H. Stewart         
Title: Executive VP, Corporate Development

ATHENE LIFE RE LTD.
By:     /s/ Adam Laing                                                                          
Name: Adam Laing
Title: Chief Financial Officer

Schedule 5.02(b)(ii)

Form of Required Balance Statement 

This schedule has been omitted pursuant to Regulation S-K Item 601(a)(5).

Exhibit C-1

Pre-Triggering Event 

Investment Guidelines

This exhibit has been omitted pursuant to Regulation S-K Item 601(a)(5).

Exhibit C-2

Post-Triggering Event 

Investment Guidelines

This exhibit has been omitted pursuant to Regulation S-K Item 601(a)(5).a41firstsupplementalinde

                                                                   Exhibit 4.1                                                                                                                                  EXECUTION VERSION                                                               FIRST SUPPLEMENTAL INDENTURE                                                       First Supplemental Indenture (this “Supplemental Indenture”), dated as of  September 24, 2020, among Milliken Millwork, Inc., a Michigan corporation, and VPI Quality  Windows, Inc., a Washington corporation (each a “Guaranteeing Subsidiary” and collectively, the  “Guaranteeing Subsidiaries”), subsidiaries of JELD-WEN, Inc., a Delaware Corporation (the  “Issuer”), and Wilmington Trust, National Association, as trustee (the “Trustee”) and as collateral  agent (the “Notes Collateral Agent”).                                W I T N E S S E T H               WHEREAS, each of JELD-WEN, Inc. and the Guarantors (as defined in the  Indenture referred to below) has heretofore executed and delivered to the Trustee an indenture  (the “Indenture”), dated as of May 4, 2020, providing for the issuance of 6.250% Senior Secured  Notes due 2025 (the “Notes”);               WHEREAS, the Indenture provides that under certain circumstances the  Guaranteeing Subsidiaries shall execute and deliver to the Trustee a supplemental indenture  pursuant to which the Guaranteeing Subsidiaries shall unconditionally guarantee all of the  Issuer’s Obligations under the Notes and the Indenture on the terms and conditions set forth  herein and under the Indenture (the “Guarantee”); and               WHEREAS, pursuant to Section 9.01 of the Indenture, the Trustee and Notes  Collateral Agent are authorized to execute and deliver this Supplemental Indenture without the  consent of Holders.               NOW THEREFORE, in consideration of the foregoing and for other good and  valuable consideration, the receipt of which is hereby acknowledged, the parties mutually  covenant and agree for the equal and ratable benefit of the Holders of the Notes as follows:               (1)   Capitalized Terms.  Capitalized terms used herein without definition  shall have the meanings assigned to them in the Indenture.               (2)   Agreement to Guarantee.  The Guaranteeing Subsidiaries hereby agree to  be a Guarantor under the Indenture and to be bound by the terms of the Indenture applicable to a  Guarantor, including Article 10 thereof.                 (3)  Execution and Delivery.  The Guaranteeing Subsidiaries agree that the  Guarantee shall remain in full force and effect notwithstanding the absence of the endorsement of  any notation of such Guarantee on the Notes.               (4)   Governing Law.  THIS SUPPLEMENTAL INDENTURE WILL BE  GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE  STATE OF NEW YORK.                                         

 

               (5)   Counterparts.  The parties may sign any number of copies of this  Supplemental Indenture.  Each signed copy shall be an original, but all of them together represent  one and the same agreement.  The exchange of copies of this Supplemental Indenture and of  signature pages by facsimile, PDF or other electronic transmission shall constitute effective  execution and delivery of this Supplemental Indenture as to the parties hereto and may be used in  lieu of the original Supplemental Indenture and signature pages for all purposes.               (6)   Effect of Headings.  The Section headings herein are for convenience  only and shall not affect the construction hereof.               (7)   The Trustee and the Notes Collateral Agent.  Neither the Trustee nor the  Notes Collateral Agent shall be responsible in any manner whatsoever for or in respect of the  validity or sufficiency of this Supplemental Indenture or for or in respect of the recitals contained  herein, all of which recitals are made solely by the Guaranteeing Subsidiaries.               (8)   Benefits Acknowledged.  Each of the Guaranteeing Subsidiaries  acknowledges that it will receive direct and indirect benefits from the financing arrangements  contemplated by the Indenture and this Supplemental Indenture and that the guarantee and  waivers made by it pursuant to this Guarantee are knowingly made in contemplation of such  benefits.                                                           

 

               IN WITNESS WHEREOF, the parties hereto have caused this Supplemental  Indenture to be duly executed, all as of the date first above written.                                                 MILLIKEN MILLWORK, INC.                                            VPI QUALITY WINDOWS, INC.                                                                                                                                                                                 By:____/s/ Brian Luke____________                                                Name: Brian Luke                                                 Title: Treasurer                                                                                                                                    WILMINGTON TRUST, NATIONAL                                            ASSOCIATION, as Trustee and as                                            Notes Collateral Agent                                                                                                                                                                                By:__/s/ W. Thomas Morris, II______                                                Name:  W. Thomas Morris, II                                                 Title: Vice President

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