Document:

Form of Long-Term Services Agreement

 Exhibit 10.4 
 FORM OF LONG-TERM SERVICES AGREEMENT 
 LONG-TERM SERVICES
AGREEMENT 
 by and between 
 CITILIFE FINANCIAL LIMITED 
 and 
 PRIMERICA LIFE INSURANCE COMPANY 
 Dated as of [            ], 2010 

 Table of Contents 
  

					
	ARTICLE I DEFINITIONS	  	
			
	 Section 1.1
	  	Definitions	  	1
		
	ARTICLE II SERVICES	  	
			
	 Section 2.1
	  	Services to be Provided to CitiLife	  	5
	 Section 2.2
	  	Management of Services	  	5
	 Section 2.3
	  	Additional Services	  	6
	 Section 2.4
	  	Service Coordinators	  	6
	 Section 2.5
	  	Standard of Performance	  	6
	 Section 2.6
	  	Cooperation	  	7
	 Section 2.7
	  	Conduct of Affiliates	  	7
		
	ARTICLE III LIMITATIONS	  	
			
	 Section 3.1
	  	General Limitations	  	8
	 Section 3.2
	  	Third Party Limitations	  	8
	 Section 3.3
	  	Compliance with Laws	  	8
	 Section 3.4
	  	Force Majeure	  	9
	 Section 3.5
	  	Disaster Recovery Services	  	9
	 Section 3.6
	  	No Adverse Effect	  	10
		
	ARTICLE IV PAYMENT	  	
			
	 Section 4.1
	  	Fees	  	10
	 Section 4.2
	  	Adjustments to Base Cost	  	10
	 Section 4.3
	  	Billing and Payment Terms	  	11
	 Section 4.4
	  	Sales Taxes	  	12
		
	ARTICLE V ACCESS AND SECURITY	  	
			
	 Section 5.1
	  	Access to Networks	  	12
	 Section 5.2
	  	Policies and Procedures	  	13
	 Section 5.3
	  	Record Retention	  	14
	 Section 5.4
	  	Audit	  	14
	 Section 5.5
	  	Regulatory Audit	  	14
	 Section 5.6
	  	Audit Results	  	15
	 Section 5.7
	  	Reporting	  	15

					
	ARTICLE VI CONFIDENTIALITY	  	
			
	 Section 6.1
	  	Confidential Materials	  	15
	 Section 6.2
	  	Permitted Disclosures	  	16
	 Section 6.3
	  	Disclosure in Compliance with Law	  	16
	 Section 6.4
	  	Unauthorized Disclosures	  	16
	 Section 6.5
	  	Failure to Comply	  	16
	 Section 6.6
	  	Injunctive Relief	  	16
		
	ARTICLE VII INTELLECTUAL PROPERTY AND DATA	  	
			
	 Section 7.1
	  	Ownership of Data and Intellectual Property	  	17
		
	ARTICLE VIII DATA PROTECTION	  	
			
	 Section 8.1
	  	Compliance With Data Protection Laws	  	18
	 Section 8.2
	  	Primerica Obligations	  	18
	 Section 8.3
	  	Integrity of Data	  	19
	 Section 8.4
	  	Data Back-up	  	20
	 Section 8.5
	  	Corruption of Data	  	20
	 Section 8.6
	  	Data Protection Agreements	  	20
		
	ARTICLE IX DISCLAIMER OF WARRANTIES	  	
			
	 Section 9.1
	  	Disclaimer of Warranties	  	21
		
	ARTICLE X INDEMNIFICATION	  	
			
	 Section 10.1
	  	Indemnification of Primerica	  	21
	 Section 10.2
	  	Indemnification of CitiLife	  	21
	 Section 10.3
	  	Indemnification Procedures	  	22
	 Section 10.4
	  	Limitations	  	24
	 Section 10.5
	  	Exclusions	  	25
	 Section 10.6
	  	Payments	  	25
	 Section 10.7
	  	Insurance	  	25
	 Section 10.8
	  	Remedies Exclusive	  	26
	 Section 10.9
	  	Mitigation	  	26
		
	ARTICLE XI TERM AND TERMINATION	  	
			
	 Section 11.1
	  	Term of Agreement	  	27
	 Section 11.2
	  	Termination	  	27
	 Section 11.3
	  	Effect of Termination	  	28

  

 ii. 

					
	Section 11.4	  	Termination Phase Assistance	  	29
		
	ARTICLE XII MISCELLANEOUS	  	
			
	Section 12.1	  	Construction; Absence of Presumption	  	29
	Section 12.2	  	Headings	  	30
	Section 12.3	  	Notices	  	30
	Section 12.4	  	Governing Law	  	31
	Section 12.5	  	Jurisdiction; Venue; Consent to Service of Process	  	31
	Section 12.6	  	Entire Agreement	  	32
	Section 12.7	  	Amendment, Modification and Waiver	  	32
	Section 12.8	  	Severability	  	32
	Section 12.9	  	Successors and Assigns; No Third Party Beneficiaries	  	32
	Section 12.10	  	WAIVER OF JURY TRIAL	  	33
	Section 12.11	  	Expenses	  	33
	Section 12.12	  	Counterparts	  	33
	Section 12.13	  	Relationship of the Parties	  	33
	Section 12.14	  	Dispute Resolution	  	33

  

			
	SCHEDULES
		
	Schedule 2.1	 	Services
	Schedule 2.3	 	Additional Services
	Schedule 2.4	 	Service Coordinators
	Schedule 4.1	 	Fees
	Schedule 8.6	 	Data Protection Agreement
	Schedule 12.14	 	Executive Committee

  

 iii. 

 LONG-TERM SERVICES AGREEMENT 
 This LONG-TERM SERVICES AGREEMENT (this “Agreement”), dated as of
[            ], 2010 (the “Effective Date”), by and between CITILIFE FINANCIAL LIMITED, an Irish life insurance company (“CitiLife”), and PRIMERICA
LIFE INSURANCE COMPANY, a Delaware corporation (“Primerica,” together with CitiLife, the “Parties,” and each individually a “Party”). 
 WHEREAS, Citigroup, Inc., the ultimate parent of CitiLife, is the indirect owner of all of the issued and outstanding common stock of
Primerica immediately prior to the date hereof; and 
 WHEREAS, in contemplation of Primerica ceasing to be so wholly owned by
Citigroup Inc., the Parties hereto have determined that it is necessary and desirable to set forth certain agreements that will govern certain matters between the Parties hereto following the completion of the initial public offering of the common
stock of Primerica as of the date hereof, and this Agreement is one such agreement. 
 NOW, THEREFORE, in consideration of the
mutual promises and covenants set forth herein, and for other good and valuable consideration, the receipt and adequacy of which are hereby acknowledged, the parties hereto, intending to be legally bound, hereby agree as follows: 
 ARTICLE I 
 DEFINITIONS 
 Section 1.1 Definitions. Unless the context clearly requires otherwise, the following
terms shall have the following meanings: 
 “AAA” shall have the meaning set forth in
Section 12.15. 
 “Additional Service” shall have the meaning set forth in
Section 2.3(a). 
 “Affiliate” shall mean, with respect to a Party, any person or entity
that, directly or indirectly, Controls, or is Controlled by, or is under common Control with, such Party. For the purposes of this Agreement, neither Party shall be deemed an Affiliate of the other. 
 “Base Cost” shall have the meaning set forth in Section 4.1(a). 
 “Business Day” shall mean any day other than a Saturday, a Sunday or a legal holiday or other day on which
banking institutions or trust companies are authorized or obligated by law to close in The City of New York, Spain, Ireland, and the United Kingdom. 

 “Change of Control” shall mean, with respect to a Party,
the occurrence of any of the following events, in a single transaction or a series of related transactions: (a) any consolidation or merger of such Party with or into any other entity in which the holders of such Party’s outstanding shares
immediately before such consolidation or merger do not, immediately after such consolidation or merger, retain stock representing a majority of the voting power of the surviving entity or stock representing a majority of the voting power of an
entity that wholly owns, directly or indirectly, the surviving entity; (b) the sale, transfer or assignment of securities of such Party representing a majority of the voting power of all of such Party’s outstanding voting securities to an
acquiring party or group; or (c) the sale of all or substantially all of such Party’s assets. 
 “CitiLife Indemnified Parties” shall have the meaning set forth in Section 10.2. 
 “Confidential Material” shall have the meaning set forth in Section 6.1. 
 “Contract Year” shall mean each consecutive twelve (12) month period during the Term commencing on the Effective Date, provided that if this Agreement expires or is terminated prior to the end of any such twelve
(12) month period, that Contract Year shall end on the expiration date or termination date, as applicable. 
 “Control” and its derivatives mean legal, beneficial or equitable ownership, directly or indirectly, of more than fifty percent (50%) of the outstanding voting capital stock (or other ownership interest, if not a
corporation) of an entity, or actual managerial or operational control over such entity. 
 “Covered
Contracts” shall mean, collectively, all active contracts of insurance and reinsurance issued by CitiLife or its predecessor in interest prior to the Effective Date. 
 “Data Protection Agreement” shall have the meaning set forth in Section 8.6. 
 “Data Protection Laws” shall mean any data protection Laws, privacy Laws, or other Laws relating to the
protection of personal data, whether currently in force or enacted during the Term; provided that CitiLife shall promptly notify Primerica of any such Laws applicable to the Services which are enacted during the Term. 
  

 2. 

 “Dispute” shall have the meaning set forth in
Section 12.14. 
 “Executive Committee” shall have the meaning set forth in
Section 12.14. 
 “Fees” shall have the meaning set forth in Section 4.1. 

“Force Majeure Event” shall have the meaning set forth in Section 3.4(a). 
 “Governmental Authority” means any federal, state, local or foreign government, any court, administrative,
regulatory or other governmental agency, commission or authority or any organized securities exchange. 
 “Historical Methodology” means the process used prior to the Effective Date to determine the fees and costs charged to CitiLife for the Services. 
 “Indemnified Parties” shall mean the CitiLife Indemnified Parties and the Primerica Indemnified Parties.

 “Indemnified Party Counsel” shall have the meaning set forth in Section 10.3(b)(iv).

 “Indemnifying Party” shall mean (a) CitiLife, with respect to any claim for or right to
indemnification pursuant to Article X by a Primerica Indemnified Party, and (b) Primerica, with respect to any claim for or right to indemnification pursuant to Article X by a CitiLife Indemnified Party. 
 “Indemnity Payments” shall have the meaning set forth in Section 10.6. 
 “Intellectual Property” shall mean all intellectual property, including all (i) inventions (whether
patentable or unpatentable and whether or not reduced to practice), improvements thereto, and patents, patent applications, and patent disclosures, together with provisionals, reissuances, continuations, continuations-in-part divisions, revisions,
extensions, and reexaminations thereof, (ii) Trademarks, (iii) copyrights and website content, and applications, registrations, and renewals in connection therewith, (iv) trade secrets, know-how and confidential business information
and, (v) software (in any form), and electronic data, databases, and data collections. 
 “Intercompany Agreement” shall mean the Intercompany Agreement by and between Citigroup, Inc. and Primerica, dated as of [    ], 2010. 
 “Law” shall mean any law, rule, regulation, ordinance, treaty, writ, judicial decision, judgment,
injunction, decree, determination, award or other order of any Governmental Authority or any guidance or code of conduct published by any Regulatory Bodies. 
  

 3. 

 “Losses” shall mean all losses, liabilities, claims,
damages, settlements, judgments, awards, actions, suits, fines, penalties, assessments, and all related costs and expenses (including taxes, reasonable attorneys’ fees and disbursements, and costs of investigation, litigation and settlement).

 “Network” shall mean a Party’s and its Affiliates’ information systems, including
all data they contain and all computer software and hardware. 
 “Pass-Through Expenses” shall
have the meaning set forth in Section 4.1. 
 “Personal Data” shall have the meaning set
forth in Article 2 of Directive 95/46/EC of the European Parliament and Council. 
 “Personnel”
shall mean, with respect to any Party, the employees, officers, agents, independent contractors and consultants of (a) such Party, (b) the Affiliates of such Party and (c) any third parties engaged by such Party or its Affiliates to
provide a Service. 
 “Primerica Indemnified Parties” shall have the meaning set forth in
Section 10.1. 
 “Regulatory Bodies” shall have the meaning set forth in Section 5.5.

 “Retained Business” shall mean the business of CitiLife as it was operated by CitiLife with
respect to the Covered Contracts in the ordinary course prior to the Effective Date. 
 “Rules”
shall have the meaning set forth in Section 12.15. 
 “Sales Taxes” shall have the meaning
set forth in Section 4.4. 
 “Service Coordinator” shall have the meaning set forth in
Section 2.4. 
 “Service Data” shall have the meaning set forth in Section 7.1(c).

 “Services” shall mean the Services and Additional Services including any and all systems,
feeds, Networks and Intellectual Property to which a Party has access prior to the Effective Date and which are necessary to provide or receive such Services. 
  

 4. 

 “Term” shall have the meaning set forth in
Section 11.1. 
 “Termination Phase” shall have the meaning set forth in
Section 11.4(a). 
 “Termination Phase Services” shall have the meaning set forth in
Section 11.4(b). 
 “Third Party Claim” shall have the meaning set forth in
Section 10.1. 
 “Trademarks” shall mean all registered and unregistered trademarks,
service marks, Internet domain names and other similar designations of source or origin, together with the goodwill associated with any of the foregoing. 
 ARTICLE II 
 SERVICES 
 Section 2.1 Services to be Provided to CitiLife. 
 (a) Primerica shall provide, or, subject to Section 2.1(b) of this Agreement, shall cause its Affiliates or third-party service providers to provide, to CitiLife all the services set forth on
Schedule 2.1 (the “Services”). 
 (b) Primerica shall not subcontract any portion of the Services to be
performed under this Agreement (including to Affiliates of Primerica) or replace any existing subcontractor without the prior written consent of CitiLife, which consent shall not be unreasonably withheld, conditioned or delayed. Primerica shall only
subcontract such Services or replace any existing subcontractor to the extent that such subcontracting or replacement is not prohibited by applicable Law. Primerica shall be responsible for the performance or non-performance of any subcontractor,
and shall remain responsible for the performance of the Services in accordance with this Agreement. 
 Section 2.2 Management
of Services. 
 (a) Except as may otherwise be expressly provided in this Agreement, the management of and control over the
provision of the Services shall reside solely with Primerica, and notwithstanding anything to the contrary herein but subject to the provisions of Article VIII, Primerica shall at any time be permitted to (a) choose the methodology, systems and
applications it utilizes in the provision of the Services, including without limitation the location from which any Service is provided at any time and (b) subject to Section 7.14 of the Intercompany Agreement, change its policies or
procedures; provided that Primerica shall provide reasonable advance written notice to CitiLife of any change in order for CitiLife to make, in an appropriate and economical 
  

 5. 

 manner, all necessary modifications required as a result of the changes. CitiLife shall bear all costs
associated with the necessary modifications CitiLife may be required to make as a result of Primerica’s changes. Notwithstanding any changes, Primerica shall remain responsible for the performance of the Services in accordance with this
Agreement. 
 (b) Notwithstanding anything to the contrary in this Agreement, in the event of a change in Law or other request
made by a Governmental Authority or a Regulatory Body to CitiLife that requires a change in the Services in order to bring the Services or CitiLife into compliance with such Law or request, CitiLife shall so notify Primerica, and Primerica shall
make, in an appropriate and economical manner, all necessary modifications required as a result of such change in Law or request. CitiLife shall bear all costs associated with the necessary modifications Primerica may be required to make as a result
of such change in Law or request. 
 Section 2.3 Additional Services. 
 (a) If CitiLife desires to receive an additional service (or to expand the scope or lengthen the duration of any Service), the Service
Coordinators shall meet (in person or by telephone) within ten (10) days of Primerica’s receipt of a written notice by CitiLife to discuss in good faith CitiLife’s request for such additional service (or such expanded scope or
lengthened duration of a Service) (each such service, to the extent provided, an “Additional Service”). Primerica shall provide such Additional Service only upon mutual agreement of the Parties on the scope, terms, Base Cost and
duration of all Additional Services, all of which shall be set forth on Schedule 2.3; provided, that Primerica must provide any Additional Service requested by CitiLife that is reasonably related to the Services then being provided by
Primerica in order to comply with any applicable Law. 
 Section 2.4 Service Coordinators. CitiLife and Primerica
shall each nominate a representative to act as the primary contact person with respect to the performance of the Services (each, a “Service Coordinator”). Unless otherwise agreed upon by the Parties, all communications relating to
this Agreement and to the Services provided hereunder shall be directed to the Service Coordinators. The initial Service Coordinators for Primerica and CitiLife, including relevant contact information, are set forth on Schedule 2.4. Either
Party may replace its Service Coordinator at any time by providing notice in accordance with Section 12.3 of this Agreement. 
 Section 2.5 Standard of Performance. Primerica shall (and shall cause any party performing services on its behalf to) use commercially reasonable efforts, skill and judgment in providing the Services. Without limiting the
foregoing, all Services shall be provided in a timely and professional workmanlike manner, consistent with (a) applicable Law, (b) applicable insurance department requirements, and (c) recent past practice prior to the Effective Date,
including with respect to timeliness. 
  

 6. 

 Section 2.6 Cooperation. 
 (a) Each Party shall use commercially reasonable efforts, and shall use commercially reasonable efforts to cause its respective Affiliates
and third-party service providers, to cooperate reasonably with the other Party in all matters relating to the provision and receipt of the Services and to minimize the expense, distraction and disturbance to each Party, and shall perform all
obligations hereunder in good faith and in accordance with principles of fair dealing. Such cooperation shall include (i) the execution and delivery of such further instruments or documents as may be reasonably requested by the other Party to
enable the full performance of each Party’s obligations hereunder and (ii) notifying the other Party in advance of any changes to a Party’s operating environment or Personnel (especially changes with respect to employee status), and
working with the other Party to minimize the effect of such changes. 
 (b) CitiLife will use commercially reasonable efforts to
provide information and documentation sufficient for Primerica to perform the Services in the manner they were provided in the ordinary course prior to the Effective Date, and will use commercially reasonable efforts to make available, as reasonably
requested by Primerica, sufficient resources and timely decisions, approvals and acceptances in order that Primerica may perform its obligations under the agreement in a timely and efficient manner. 
 (c) CitiLife shall follow, and shall cause its respective third-party service providers to follow, the policies, procedures and practices
with respect to the Services followed by Primerica immediately prior to the Effective Date, except for any changes to such policies, procedures and practices required due to changes in applicable Law (or changes in the interpretation or enforcement
of applicable Law) following the Effective Date. A failure of CitiLife to act in accordance with this Section 2.6 that prevents Primerica or its Affiliates or third parties from providing a Service hereunder shall relieve Primerica of its
obligation to provide such Service until such time as the failure has been cured; provided, that Primerica has previously notified CitiLife in writing of such failure. 
 Section 2.7 Conduct of Affiliates. To the extent that any Service is provided or received by an Affiliate of a Party, such Party
shall cause such Affiliate to comply with the terms and conditions of this Agreement relating to the provision and receipt of the Services as if such Affiliate were a named Party under this Agreement. 
  

 7. 

 ARTICLE III 
 LIMITATIONS 
 Section 3.1 General
Limitations. 
 (a) Unless expressly provided otherwise herein (i) Primerica shall be required to provide the Services
hereunder only to the extent that such Services were provided to CitiLife or its Affiliates in the ordinary course prior to the Effective Date and (ii) the Services shall be available only for the purposes of conducting the Retained Business.

 (b) In no event shall Primerica (or its Affiliates) be obligated to maintain the employment of any specific employee or,
unless CitiLife agrees to bear all associated costs, acquire any specific additional equipment or software; provided, that Primerica shall remain responsible for the performance of the Services in accordance with this Agreement. 

Section 3.2 Third Party Limitations. Each Party acknowledges and agrees that the Services provided by
Primerica through third parties or using third-party Intellectual Property are subject to the terms and conditions of any applicable agreements between Primerica and such third parties. If Primerica provides a Service through third parties or using
third-party Intellectual Property, Primerica shall use commercially reasonable efforts to (a) obtain any necessary consent from such third parties in order to provide such Services or (b) if any such consent is not obtained, provide
acceptable alternative arrangements to provide the relevant Services sufficient for CitiLife’s purposes. All costs associated with (a) and (b), above, shall be borne by CitiLife; provided that Primerica shall not incur any such
costs without the prior written consent of CitiLife. If any such acceptable alternative arrangement is not reasonably available or CitiLife does not consent to pay such additional costs, Primerica shall not be required to provide such Service.
 
 Section 3.3 Compliance with Laws. Primerica shall not provide nor shall cause to be provided, any Service to the extent that the
provision of such Service would require Primerica, any of its Affiliates or any of their respective Personnel to violate (a) any applicable Law or (b) any policies and/or procedures of Primerica that were established in response to
regulatory concerns. If at any time during the term of this Agreement, either Party becomes aware of any facts or circumstances which would cause the provision of any Service to result in any such violation, such Party, as applicable, shall promptly
give notice thereof to the other Party; provided (a) Primerica make commercially reasonable efforts to provide acceptable alternative arrangements to provide the relevant Services sufficient for CitiLife’s purposes in a manner that
complies with applicable Law and (b) all costs associated with the acceptable alternative arrangement shall be borne by CitiLife. 
  

 8. 

 Section 3.4 Force Majeure 
 (a) If Primerica or any third party engaged by Primerica to perform the Services is wholly or partially prevented from, or delayed in,
providing one or more Services, or one or more Services are interrupted or suspended, by reason of events beyond its reasonable control (including acts of God, fire, explosion, accident, floods, earthquakes, embargoes, epidemics, war, acts of
terrorism, or nuclear disaster) (each, a “Force Majeure Event”), Primerica shall not be obligated to deliver the affected Services during such period, and CitiLife shall not be obligated to pay for any Services not delivered.

 (b) Upon the occurrence of a Force Majeure Event, Primerica shall promptly give written notice to CitiLife of the Force
Majeure Event upon which it intends to rely to excuse its performance, and of the expected duration of such Force Majeure Event. The duties and obligations of Primerica hereunder shall be tolled for the duration of the Force Majeure Event, but only
to the extent that the Force Majeure Event prevents Primerica from performing its duties and obligations hereunder. 
 (c)
During the duration of a Force Majeure Event, Primerica shall use commercially reasonable efforts to avoid or remove such Force Majeure Event, and shall use commercially reasonable efforts to resume its performance under this Agreement with the
least practicable delay. From and during the occurrence of a Force Majeure Event, CitiLife may replace the affected Services by providing such Services for itself or engaging a third party to provide such Services. 
 (d) For the period beginning thirty (30) days after the occurrence of a Force Majeure Event and ending upon the termination of such
Force Majeure Event, Primerica shall pay or reimburse, as applicable, the difference, if any, between (i) all of CitiLife’s reasonable costs associated with any replacement Services and (ii) the amount CitiLife would have paid to
Primerica under the terms of this Agreement for the provision of such Services had Primerica continued to perform such Services. 
 Section 3.5 Disaster Recovery Services. 
 (a) Primerica will maintain disaster recovery and business
continuity facilities and contingency plans, consistent with its historical practice, to the reasonable satisfaction of CitiLife with the purpose of ensuring the continued performance of all of the Services notwithstanding any disaster or event, but
not including a Force Majeure Event, which would otherwise adversely affect the performance of such Services. 
  

 9. 

 (b) Primerica agrees to establish and operate all necessary back-up and recovery procedures,
consistent with its historical practice, on its operating and information technology systems to ensure that data integrity is maintained and that data relating to the Retained Business that is maintained by Primerica pursuant to this Agreement will
not be lost or destroyed. 
 (c) Primerica shall not be required to provide disaster recovery services to the extent that
CitiLife has materially altered the equipment, hardware or software to which such disaster recovery services pertain. 
 Section 3.6 No Adverse Effect. In providing the Services, Primerica shall not take any action that could reasonably be expected to have a material adverse effect on the Retained Business, or on the ability of CitiLife to comply
with its obligations under this Agreement, without obtaining CitiLife’s prior written consent. 
 ARTICLE IV

 PAYMENT 
 Section 4.1 Fees. 
 (a) In consideration for the
Services, CitiLife shall pay to Primerica (i) Primerica’s internal costs for the Services (x) as determined in a manner consistent with the Historical Methodology or (y) in the case of an Additional Service, as expressly agreed
by the Parties after the Effective Date (the “Base Cost”), plus (ii) third party costs incurred by Primerica for the Services, which shall be allocated in a manner consistent with the Historical Methodology and shall be charged
to CitiLife on a pass-through basis (“Pass-Through Expenses”); provided, that the EDP Supplies Services and Vendor Software Annual Maintenance Services set forth on Schedule 4.1 shall be charged to CitiLife on a
pass-through basis plus an additional mark-up of ten percent (10%), plus (iii) to the extent not covered by the Base Cost or the Pass-Through Expenses, any reasonable out-of-pocket expenses incurred by Primerica in providing the Services, in accordance with Primerica’s existing expense policies,
which are incidental to providing the Services and are not incorporated in the Historical Methodology (together with the Base Cost and Pass-Through Expenses, the “Fees”); provided that any out-of-pocket expenses shall be
agreed upon in advance by the Parties unless such out-of-pocket expenses were passed through to CitiLife in the ordinary course prior to the Effective Date. The current Base Cost and Pass-Through Expenses for the Services are set forth on
Schedule 4.1. 
 Section 4.2 Adjustments to Base Cost. On the first anniversary of the Effective Date, the
Base Cost of the Services shall be increased by an amount equal to 
  

 10. 

 three percent (3%) of the Base Cost applicable in the first Contract Year. On each subsequent
anniversary of the Effective Date, the Base Cost of the Services shall be increased by a compounded rate equal to the percentage increase, if any, in the employment cost index published by the United States Bureau of Labor Statistics at
http://www.bls.gov on each subsequent anniversary date of the Effective Date. 
 Section 4.3 Billing and Payment
Terms. 
 (a) Primerica shall invoice CitiLife for the Services on a monthly basis (such invoice to set forth a description
of the Services provided and reasonable documentation to support the charges thereon) for all Services that Primerica delivered during the preceding month, denominated in U.S. Dollars. Each such invoice shall be payable within sixty (60) days
after CitiLife’s receipt of the invoice and payment of such invoices shall be made by CitiLife to Primerica in U.S. Dollars. 
 (b) If any undisputed invoice or undisputed portion of an invoice is not paid in full within sixty (60) days after the date of the invoice, interest shall accrue on the unpaid amount at the annual
rate equal to the “Prime Rate” as reported in The Wall Street Journal on the thirtieth (30th
) day after the date of the invoice (or, if such day is not a Business Day, the first Business Day immediately after such day), calculated on the basis of a year of three hundred sixty
(360) days and the actual number of days elapsed between the end of the sixty (60) day period and the actual payment date. 
 (c) CitiLife may dispute any or all charges within ninety (90) days after the receipt of the applicable invoice. If CitiLife disputes any charges, the Parties shall work together in good faith to resolve such dispute in accordance with
Section 12.14. CitiLife may, without being in breach of this Agreement, withhold payment of any such fees or charges disputed in good faith by CitiLife if (i) CitiLife pays to Primerica all undisputed items comprised in the same invoice as
the disputed items; (ii) CitiLife provides a written statement to Primerica on or before the due date of such payment describing in reasonable detail and specificity the basis of the dispute and the amount being withheld; and (iii) such
written statement is signed by the CitiLife Service Coordinator or other authorized CitiLife officer, who represents on behalf of CitiLife that the amount in dispute has been determined in good faith after due investigation of the facts. Upon
resolution of the dispute, CitiLife shall pay any amount determined to be paid to Primerica within forty-five (45) calendar days after such final resolution. A failure by CitiLife to dispute a charge within ninety (90) days after receipt
of invoice shall not waive CitiLife’s audit and collection rights under Article V. 
 (d) The Parties acknowledge that
there may be a lag in the submission of invoices for Pass-Through Expenses from third parties relating to the provision of Services, and that Primerica shall use commercially reasonable efforts to obtain such third-party invoices, and to provide
same to CitiLife, in a timely fashion. 
  

 11. 

 (e) The existence of a dispute pursuant to Section 4.3(c) above shall not excuse either
Party from any other obligation under this Agreement, including Primerica’s obligations to continue to provide Services hereunder. 
 Section 4.4 Sales Taxes. All consideration under this Agreement is exclusive of any sales, transfer, value-added, goods or services tax or similar gross receipts based tax (including any such
taxes that are required to be withheld, but excluding all other taxes including taxes based upon or calculated by reference to income or capital) imposed against or on Services provided (“Sales Taxes”) by Primerica hereunder and
such Sales Taxes will be added to the consideration where applicable. Such Sales Taxes shall be separately stated on the relevant invoice to CitiLife. All taxable goods and Services for which CitiLife is compensating, or reimbursing, Primerica shall
be set out separately from non-taxable goods and Services, if practicable. CitiLife shall be responsible for any such Sales Taxes and shall either (a) remit such Sales Taxes to Primerica (and Primerica shall remit the such amounts to the
applicable taxing authority) or (b) provide Primerica with a certificate or other acceptable proof evidencing an exemption from liability for such Sales Taxes. In the event Primerica fails timely to invoice Sales Taxes on taxable goods or
services covered by this Agreement, Primerica shall notify CitiLife and CitiLife shall remit such Sales Taxes to Primerica. 
 ARTICLE V 
 ACCESS AND SECURITY 
 Section 5.1 Access to Networks. 
 (a) Each Party must provide the other Party with access to such Party’s Network via a secure, industry-standard method selected by such Party with reasonable input from such other Party, as necessary
to provide or receive the Services, as applicable; provided, that no Party shall be required to accept a method selected by the other Party to the extent that such method would require such Party to violate its generally applicable policies
and procedures; and provided further that the cost of providing access shall be borne by CitiLife pursuant to Section 4.1. 
 (b) Each Party agrees to take all reasonable steps to prevent the unauthorized or illegal access to the Network of the other Party. 
 (c) Each Party shall only use (and will use its best efforts to ensure that its Personnel only use) the other Party’s Network for the
purpose of providing or receiving, and only to the extent required to provide or receive, the Services, as applicable. 
 (d)
Neither Party shall allow nor permit its agents or subcontractors to use or have access to the other Party’s Network except to the extent that such other Party gives its express prior written approval for such use or access by each relevant
agent or subcontractor. 
  

 12. 

 (e) Neither Party shall (and shall use its best efforts to ensure that its Personnel shall
not): (i) use the other Party’s Network to develop software, process data or perform any work or services other than for the purpose of providing or receiving the Services, (ii) break, interrupt, circumvent, adversely affect or
attempt to break, interrupt, circumvent or adversely affect any security system or measure of the other Party; (iii) obtain, or attempt to obtain, access to any hardware, program or data comprised in the other Party’s Network except to the
extent reasonably necessary to perform or receive the Services; or to which such other Party has given its prior written consent for such Party to obtain or attempt to obtain such access; or (iv) use, disclose or give access to any part of the
other Party’s Network to any third party, other than its agents and sub-contractors authorized by such other Party in accordance with this Section 5.1. All user identification numbers and passwords for a Party’s Network disclosed to
the other Party, and any information obtained from the use of such Party’s Network, shall be deemed Confidential Material of such Party. 
 (f) If a Party or any of its Personnel breach any provision of this Article, such Party shall promptly notify the other Party of such breach and cooperate as requested by such other Party in any
investigation of such breach. 
 (g) A material failure to comply with the provisions of this Section 5.1 shall constitute
a material breach of this Agreement. 
 Section 5.2 Policies and Procedures. 
 (a) CitiLife shall (and shall use its best efforts to ensure that its Personnel) comply with all policies, procedures and regulations of
Primerica relating to confidentiality, continuity of business and computer and network security measures, including data encryption policies and procedures established by Primerica, to the extent that such polices, procedures and regulations have
been disclosed to CitiLife and relate to CitiLife’s receipt of the Services; provided that to the extent that any such Primerica policies, procedures or regulations conflict with any CitiLife policies, procedures or regulations relating
to Personal Data, then CitiLife shall not be required to comply with the conflicting portion of such Primerica policies, procedures or regulations and Primerica shall comply with the relevant CitiLife policies, procedures or regulations relating to
Personal Data, to the extent of such conflict. 
 (b) Each Party shall ensure that when entering or within the other
Party’s premises, all such Party’s Personnel must establish their identity to the satisfaction of security Personnel and comply with all directions given by them, including directions to display any identification cards provided by such
other Party or to vacate the premises of such other Party. 
  

 13. 

 Section 5.3 Record Retention. Except as otherwise expressly set forth herein
with respect to Service Data, Primerica shall take reasonable steps to preserve and maintain all records relating to the Services provided hereunder in commercially reasonable electronic format, which records shall be retained by Primerica or its
Affiliates for the period of time specified in Primerica’s record retention policies and procedures. 
 Section 5.4
Audit 
 (a) CitiLife may from time to time review or audit any document, information or matter relating to
Primerica’s performance under this Agreement, including Primerica’s compliance with its obligations under Article VIII, through its own staff or through contractors, agents, auditors or advisers and will ensure that such persons are bound
by confidentiality provisions substantially similar to those contained in Article VI. 
 (b) Primerica will provide CitiLife and
its Personnel, auditors and advisers with such information, assistance and access to Primerica’s premises, employees and documentation as is reasonable in order that they may fully and promptly carry out each audit described in
Section 5.4(a); provided, that: (i) CitiLife will permit Primerica the opportunity to deliver up any information required by CitiLife prior to CitiLife carrying out any audit hereunder which may render an audit visit unnecessary;
(ii) such access shall not unreasonably interfere with the conduct of the business Primerica; and (iii) in the event Primerica reasonably determines that affording any such access to CitiLife would be commercially detrimental in any
material respect or violate any applicable Law or any agreement to which Primerica is a party, or waive any attorney-client privilege applicable to Primerica, the Parties shall use reasonable efforts to permit the compliance with such request in a
manner that avoids such harm or consequence. 
 Section 5.5 Regulatory Audit. In addition to the rights set out
above, Primerica acknowledges and agrees that certain government departments and regulatory, statutory and other entities, committees and bodies which, whether under Law or codes of practice or otherwise, are entitled to regulate, investigate or
influence any matters within this Agreement or any other affairs of CitiLife (collectively, “Regulatory Bodies”) from time to time require the right, whether by virtue of Law or code of practice or otherwise, to investigate the
affairs of Primerica; and, accordingly, Primerica agrees to provide such access as is referred to in Section 5.4 and all such other access, information and assistance as such Regulatory Bodies properly require in order to fulfill such
requirements. CitiLife shall bear any reasonable, out-of pocket costs incurred by Primerica in providing such access, information and assistance. If Primerica considers that any requirement relates to information which is confidential to Primerica,
Primerica will be entitled to disclose the information directly to the Regulatory Body without having to disclose it to CitiLife. 
  

 14. 

 Section 5.6 Audit Results 
 (a) Without prejudice to CitiLife’s other rights under this Agreement, if CitiLife’s exercise of its rights under this Article V
results in audit findings that Primerica has failed to perform its material obligations under this Agreement, CitiLife will make the audit findings available to Primerica, and the Parties will use all reasonable efforts to agree to a remedial plan
and a timetable for achievement of the planned actions or improvements. Following agreement of the timetable, Primerica will implement that plan in accordance with the agreed timescales and will confirm its completion by a notice in writing to
CitiLife. If Primerica fails to agree or implement such plan, CitiLife will be entitled to terminate this Agreement or any part thereof pursuant to the provisions of Article X. 
 (b) If CitiLife’s exercise of its rights under this Article V results in audit findings that any Fees have been overpaid by CitiLife,
then upon receiving notice of such audit findings, the appropriate reduction will be made to the next applicable invoice(s). If such audit findings show that CitiLife overpaid by five percent (5%) or greater, Primerica shall bear any costs
associated with such audit. 
 Section 5.7 Reporting. Primerica shall notify CitiLife as soon as reasonably practicable
upon the occurrence of any event or events of which it becomes aware which would prejudice Primerica’s ability to perform the Services effectively and in compliance with all applicable Laws. 
 ARTICLE VI 
 CONFIDENTIALITY 
 Section 6.1 Confidential Materials. Each Party shall keep confidential and shall not,
without the prior written consent of the other Party, make available or disclose to any person, or make or permit any use of Confidential Material by any person, any information or material of the other Party or its Affiliates that is or has been
(a) disclosed by such other Party or its Affiliates under or in connection with this Agreement, whether orally, electronically, in writing or otherwise, including copies, or (b) learned, acquired, or generated by the other Party in
connection with this Agreement, including the terms of this Agreement (collectively, “Confidential Material”). Notwithstanding the foregoing, Confidential Material may be disclosed on an as needed basis to Personnel of the receiving
Party as required for the purpose of fulfilling the receiving Party’s obligations under this Agreement. Each Party shall take all reasonable steps to require that any such Confidential Material disclosed to any such Personnel in accordance with
this Section 6.1 is treated as confidential by such Personnel and shall require its subcontractors to enter into a confidentiality agreement which imposes confidentiality obligations no less protective of the Confidential Material than those
imposed upon under this Agreement. The receiving Party will be liable to the disclosing Party for any non-compliance by its Personnel who are not employees or officers to the same extent it would be liable for non-compliance by its employees or
officers. 
  

 15. 

 Section 6.2 Permitted Disclosures. The provisions of this Article VI shall not
apply to any Confidential Material which: (a) is or becomes commonly known within the public domain other than by breach of this Agreement or any other agreement that CitiLife or Primerica has with any third party; (b) is obtained from a third party
who is lawfully authorized to disclose such information free from any obligation of confidentiality; or (c) is independently developed without reference to any Confidential Material. 
 Section 6.3 Disclosure in Compliance with Law. Nothing in this Article VI shall prevent either Party from disclosing Confidential
Material where it is required to be disclosed by judicial, administrative, governmental or regulatory process in connection with any action, suit, proceeding or claim or otherwise by applicable Law; provided, however, that a Party that
is so required to disclose Confidential Material shall, if legally permitted, give the other Party prior reasonable notice as soon as possible, of such required disclosure so as to enable such other Party to seek relief from such disclosure
requirement or measures to protect the confidentiality of the disclosure. 
 Section 6.4 Unauthorized Disclosures. Each
Party shall immediately inform the other Party in the event that it becomes aware of the possession, use or knowledge of any of such other Party’s Confidential Material by any person not authorized to possess, use or have knowledge of the
Confidential Material and shall at the request of such other Party provide such reasonable assistance as is required by such other Party to mitigate any damage caused thereby. 
 Section 6.5 Failure to Comply. Failure by a Party to comply with this Article VI shall constitute a material breach of this
Agreement. 
 Section 6.6 Injunctive Relief. Without prejudice to any other rights or remedies that a Party may have,
each Party acknowledges that the other Party may not have an adequate remedy at law for any breach by such Party or its Personnel of the provisions of this Article VI, and, therefore, any such other Party shall be entitled to equitable relief
including injunctive relief. Each Party agrees to provide reasonable assistance at its own expense or to join at the request of the other Party in any action against any of such Party’s staff where such other Party is seeking equitable relief,
including injunctive relief, for any such breach. 
  

 16. 

 ARTICLE VII 
 INTELLECTUAL PROPERTY AND DATA 
 Section 7.1
Ownership of Data and Intellectual Property. 
 (a) CitiLife shall be the sole and exclusive owner of all Intellectual
Property it creates hereunder. CitiLife hereby grants to Primerica a non-exclusive, non-sublicensable, non-transferable, limited license to use such Intellectual Property during the Term, solely to the extent required to provide the Services.

 (b) Primerica shall be the sole and exclusive owner of all Intellectual Property it creates hereunder. Primerica hereby
grants to CitiLife a non-exclusive, non-sublicensable, non-transferable, limited license to use such Intellectual Property during the Term, solely to the extent required to receive the Services. 
 (c) All data created, transmitted through or maintained pursuant to a Service and on behalf of CitiLife (“Service Data”)
shall be owned by CitiLife, and following termination of this Agreement Primerica shall, in accordance with CitiLife’s instructions, either: 
 (i) store such data on behalf of CitiLife for the period of time specified in CitiLife’s record retention policies and procedures and shall, upon CitiLife’s request, provide CitiLife with
complete access to such data in a commercially reasonable manner, including for the purposes of obtaining copies of such data, provided that the cost of obtaining such copies shall be borne by CitiLife; 
 (ii) return all such data and copies thereof to CitiLife; or 
 (iii) destroy all such data and copies thereof and certify to CitiLife that it has taken such actions. 
 (d) CitiLife may request that Primerica deliver (i) thirty (30) days prior to the expiration or effective date of termination of
this Agreement or a Service, an extract of data for the Services to be used by CitiLife to test the ability of its replacement systems to perform the Services and (ii) on or prior to the date that is thirty (30) days following the
expiration or effective date of termination of this Agreement or a Service, as applicable, a copy of all Service Data for such Services. In each case, Primerica shall (y) use commercially reasonable efforts to provide the requested data
promptly following receipt of such request and (z) provide the requested data in its then-current format in accordance with CitiLife’s Transportable Media Policy. Primerica shall bear the costs of providing one (1) copy of data for
testing purposes and one (1) final copy of Service Data with respect to each Service in accordance herewith, and CitiLife shall bear the costs of providing any other copies of data requested by CitiLife. 
  

 17. 

 ARTICLE VIII 
 DATA PROTECTION 
 Section 8.1 Compliance With Data
Protection Laws. Primerica shall, and shall ensure that its Personnel and other representatives, comply with the provisions of any Data Protection Laws applicable to the provision of the Services, and Primerica must not do, or omit to do, and
must ensure that its Personnel and other representatives do not do or omit to do, anything that would cause, or may be reasonably expected to cause CitiLife to be in breach of any provision of any Data Protection Laws or any registration of CitiLife
made in accordance with the Data Protection Laws (to the extent Primerica has been notified of any such registration). 
 Section 8.2 Primerica Obligations. Without prejudice to Section 8.1 above, the Parties agree that Primerica is a data processor when processing Personal Data relating to the staff or customers of CitiLife. If a supervisory
authority for data protection considers, or CitiLife reasonably considers based on applicable Law, that Primerica is a data controller, not a data processor, then either (a) the Parties will modify the Services such that Primerica is not
considered a data controller; provided that any such modifications shall not adversely affect, in any material respect, any of the Services to be provided by Primerica to CitiLife under Section 2.1 or (b) if such modifications would
materially adversely affect the Services, Primerica shall make any changes to this Section 8.2 as CitiLife may reasonably require in order for CitiLife and the Services to comply with applicable Law; provided that CitiLife shall bear any
costs incurred by Primerica in making such modifications to the Services or implementing such changes to this Section 8.2, as applicable. When Primerica processes Personal Data as a data processor, it shall: 
 (a) only carry out processing on the instructions of CitiLife from time to time and promptly comply with any such instructions; 

(b) include in any contract with third parties or subcontractors who will process Personal Data directly or indirectly on behalf of
CitiLife, provisions in favor of CitiLife which are equivalent to those in this Article VIII, including sufficient guarantees in respect of the appropriate technical and organizational measures governing the data processing; 
 (c) promptly refer to CitiLife any queries from data subjects, any data protection supervising authority, or any law enforcement authority,
in each case relating to the Services or the Personal Data, for CitiLife to resolve; 
  

 18. 

 (d) promptly provide such information to CitiLife as may be reasonably required to allow it
to comply with the rights of data subjects, to the extent CitiLife does not already have access to such information, including subject access rights, or with information notices served by the relevant law enforcement authority or to facilitate
timely resolution of any of the foregoing or any related matter; 
 (e) comply with the security breach notification procedures
that may be provided by CitiLife from time to time, and promptly notify CitiLife in writing if this Article VIII has, may have been, or is likely to be breached, in sufficient detail to enable CitiLife to mitigate any liability it may incur;

 (f) cooperate with CitiLife to assist CitiLife in investigating and mitigating any breach of this Article VIII (including the
provision of regular updates on the status of the breach); 
 (g) ensure that the Services are provided in accordance with
Primerica’s information security policies and procedures; provided that any material changes to such policies and procedures relating to Personal Data following the Effective Date shall be subject to CitiLife’s prior written
consent, which consent shall not be unreasonably withheld, conditioned or delayed; 
 (h) take security, technical and
organizational measures to prevent unauthorized or accidental access to, alteration, disclosure, or loss and destruction of Personal Data; and 
 (i) only transfer Personal Data to another country if and to the extent expressly authorized by CitiLife in writing. To the extent that Personal Data owned or controlled by CitiLife located in the
European Union is transferred to a country outside of the European Union, Primerica shall ensure an adequate level of protection for the rights of the data subject after written authorization by CitiLife which may be granted subject to such
conditions as CitiLife thinks are necessary to ensure adequate protection of the data. 
 Section 8.3 Integrity of Data.
Primerica must take reasonable precautions (having regard to the nature of its other respective obligations under this Agreement) to preserve the integrity of any data of CitiLife processed by Primerica as part of the Services and to prevent any
corruption or loss of such data. Primerica shall implement (and update from time to time as needed) the appropriate technical, organizational, and security measures (including any specific security measures specified in a Data Protection Agreement)
to protect CitiLife data against unauthorized or unlawful processing and against accidental loss, destruction, damage, disclosure, or alteration and provide CitiLife with a written detailed description of such measures promptly on request from time
to time. 
  

 19. 

 Section 8.4 Data Back-up. Primerica and CitiLife shall agree on a back-up
procedure that shall require both Parties to back up data and in any event Primerica shall make a back up copy of CitiLife’s data every day and record the copy on media from which CitiLife’s data can be re-loaded in the event of any
corruption or loss of CitiLife’s data. 
 Section 8.5 Corruption of Data. In the event that CitiLife’s data is
corrupted or lost as a result of any breach of this Agreement by Primerica, CitiLife may, in addition to any other remedies that may be available to it under this Agreement, elect to pursue either of the following remedies: 
 (a) CitiLife may require Primerica at its own expense to restore or procure the restoration of CitiLife’s data; or 
 (b) CitiLife may itself restore or procure restoration of CitiLife’s data, and shall be repaid by Primerica for any reasonable expenses
so incurred. 
 Section 8.6 Data Protection Agreements. 
 (a) For the purposes of complying with Directive 95/46/EC with respect to customer data, Primerica and CitiLife shall either (i) enter into
an agreement in the form set forth in Schedule 8.6 (the “Data Protection Agreement”) or (ii) otherwise ensure that the processing of such data by Primerica is within the scope of a Data Protection Agreement executed by
Primerica and CitiLife in each relevant country and approved by applicable data protection Regulatory Bodies, where required. For the purposes of Directive 95/46/EC and the applicable implementing legislation, Primerica shall be a
“processor” of CitiLife customer data, as such term is defined in Directive 95/46/EC, and shall only process CitiLife customer data pursuant to CitiLife’s instructions. Upon the enactment of any new Data Protection Laws or changes to
existing Data Protection Laws in the European Union, Primerica and CitiLife shall amend the Data Protection Agreement or enter into (or to the extent required by any applicable Data Protection Laws, cause any Primerica Affiliates or CitiLife
Affiliates to enter into) further Data Protection Agreements, in accordance with Section 3.3. Primerica and CitiLife shall process and maintain trans-border exchanges of CitiLife customer data in the manner set forth in the Data Protection
Agreement. 
 (b) In all cases of disclosure of CitiLife customer data to any third party (whether or not such third
party is a Primerica Affiliate) Primerica shall enter into a written agreement with such third party which places obligations on such third party which shall be no less restrictive than the obligations placed on the Data Importer (as defined in the
Data Protection Agreement set forth in Schedule 8.6) under the Data Protection Agreement, and which provides adequate assurance that CitiLife customer data will only be transferred or processed in a manner which is consistent with the Data
Protection Laws. 
  

 20. 

 (c) If CitiLife determines, in its sole discretion, that (i) a newly enacted Data
Protection Law, (ii) a change to an existing Data Protection Law in the European Union, or (iii) the requirements of any Data Protection Laws other than Directive 95/46/EC require CitiLife to amend or otherwise enter into any further or
additional agreements as contemplated by Section 8.6(a) or Section 8.6(b) above, Primerica and CitiLife shall enter into such further or additional agreements. 
 ARTICLE IX 
 DISCLAIMER OF WARRANTIES 
 Section 9.1 Disclaimer of Warranties. EXCEPT AS EXPRESSLY SET FORTH IN THIS AGREEMENT, NEITHER PARTY MAKES, AND EACH PARTY
EXPRESSLY DISCLAIMS, ANY AND ALL REPRESENTATIONS OR WARRANTIES WHATSOEVER, WHETHER EXPRESS, IMPLIED OR STATUTORY, WITH RESPECT TO THE SERVICES TO BE PROVIDED UNDER THIS AGREEMENT, INCLUDING WARRANTIES WITH RESPECT TO MERCHANTABILITY, OR SUITABILITY
OR FITNESS FOR A PARTICULAR PURPOSE, TITLE AND NON-INFRINGEMENT OF ANY SOFTWARE OR HARDWARE PROVIDED HEREUNDER, AND ANY WARRANTIES ARISING FROM COURSE OF DEALING, COURSE OF PERFORMANCE OR TRADE USAGE. 
 ARTICLE X 
 INDEMNIFICATION 
 Section 10.1 Indemnification of Primerica. Subject to the terms of this Article
X, from and after the Effective Date, CitiLife shall indemnify, defend, save and hold harmless Primerica and its Affiliates and each of their respective Personnel and directors and each of their successors and assigns (collectively, the
“Primerica Indemnified Parties”), from and against any and all Losses (including such reasonable fees and expenses related to the enforcement of this Agreement), to the extent resulting from or arising out of any action, suit,
proceedings, claim, arbitration, investigation or litigation, whether civil or criminal, at law or in equity, made or brought by a third party that is not an Affiliate of the Indemnified Party (each, a “Third Party Claim”) to the
extent resulting from or arising out of CitiLife’s material breach of this Agreement. 
 Section 10.2
Indemnification of CitiLife. Subject to the terms of this Article X, from and after the Effective Date, Primerica shall indemnify, defend, save and hold harmless CitiLife and its Affiliates and each of their respective Personnel and directors
and each of their successors and assigns (collectively, the “CitiLife Indemnified Parties” and, together with the Primerica Indemnified Parties, the “Indemnified Parties”), from and against any and all Losses
(including such reasonable fees and expenses related to the enforcement of this Agreement), to the extent resulting from or arising out of any Third Party Claim (a) resulting from or arising out of Primerica’s material breach of this
Agreement or (b) alleging that the provision or receipt of the Services infringes or misappropriates such third party’s Intellectual Property. 
  

 21. 

 Section 10.3 Indemnification Procedures. 
 (a) Upon receipt by an Indemnified Party of notice of any Third Party Claim with respect to a matter for which such Indemnified Party is
indemnified under this Article X that has or is expected to give rise to a claim for Losses, the Indemnified Party shall promptly (but in any event within ten (10) days of receipt of such Third Party Claim) notify the Indemnifying Party in writing,
indicating the nature of such Third Party Claim and the basis therefor; provided, however, that any delay or failure by the Indemnified Party to give notice to the Indemnifying Party shall relieve the Indemnifying Party of its
obligations hereunder only to the extent, if at all, that it is prejudiced by reason of such delay or failure. Such written notice shall (i) describe such Third Party Claim in reasonable detail, including the facts underlying each particular claim
and the specific sections of this Agreement pursuant to which indemnification is being sought for each such set of facts; (ii) attach copies of all material written evidence upon which such claim is based; and (iii) set forth the estimated amount of
the Losses that have been or may be sustained by an Indemnified Party. 
 (b) The Indemnifying Party shall have sixty (60) days
after receipt of a written notice that complies with the requirements of Section 10.3(a) to elect, at its option, to exercise its right to assume and control the defense of, at its own expense and by its own counsel, any such Third Party Claim and
shall be entitled to assert any and all defenses available to the Indemnified Party to the fullest extent permitted by applicable Law; provided, however, that the applicable Party shall have sole control of the defense (including
selecting counsel) of any Third Party Claim brought against such Party by (i) any customer of such Party or (ii) any Regulatory Body or other supervisory agency, notwithstanding the fact that such Party is indemnified by the Indemnifying Party for
such Third Party Claim pursuant to Section 10.2; and provided, further, that, to the extent required to avoid any prejudice to the Indemnified Party’s rights or remedies with respect to such Third Party Claim, the Indemnified
Party may conduct the defense of such claim in any manner not otherwise inconsistent with this Agreement prior to the Indemnifying Party’s exercise of such right. For any such Third Party Claims, such Party shall not settle, compromise or
discharge, or admit any liability with respect to, such Third Party Claims without the prior written consent of the Indemnifying Party (which consent will not be unreasonably withheld, delayed or conditioned). 
 (i) If the Indemnifying Party shall undertake to compromise or defend any such Third Party Claim, it shall promptly notify
the Indemnified Party of its intention to do so, and the Indemnified Party shall cooperate fully with the Indemnifying Party and its counsel in the compromise of, or defense against, any such Third Party Claim. Such cooperation shall include (A)
furnishing and, upon request, using reasonable efforts to procure the attendance of potential witnesses for interview, preparation, submission of witness statements and the giving of evidence at any related hearing; (B) promptly furnishing
documentary evidence to the extent available to it or its Affiliates; and (C) using reasonable efforts to provide access to any other relevant party, including any representatives of the Parties as reasonably needed; provided, 
  

 22. 

 however, that the Indemnifying Party shall not settle, compromise or discharge, or
admit any liability with respect to, any such Third Party Claim without the prior written consent of the Indemnified Party (which consent shall not be unreasonably withheld or delayed), unless the relief consists solely of money Losses to be paid by
the Indemnifying Party and includes a provision whereby the plaintiff or claimant in the matter releases the Indemnified Party from all liability with respect thereto. 
 (ii) Notwithstanding an election by the Indemnifying Party to assume the defense of such Third Party Claim, the Indemnified
Party shall have the right to employ separate counsel and to participate in the defense of the Third Party Claim, and the Indemnifying Party shall bear the reasonable fees, costs and expenses of such separate counsel if the (A) Indemnified
Party shall have determined in good faith that an actual or potential conflict of interest makes representation by the same counsel or the counsel selected by the Indemnifying Party inappropriate or (B) Indemnifying Party shall have authorized
the Indemnified Party to employ separate counsel at the Indemnifying Party’s expense. 
 (iii) The
Indemnified Party and Indemnifying Party and their counsel shall cooperate in the defense of any Third Party Claim subject to this Article X and keep such persons informed of all developments relating to any such Third Party Claims, and provide
copies of all relevant correspondence and documentation relating thereto. All costs and expenses incurred in connection with the Indemnified Party’s cooperation shall be borne by the Indemnifying Party. In any event, the Indemnified Party shall
have the right at its own expense to participate in the defense of such asserted liability. 
 (iv) If the
Indemnifying Party, after receiving a written notice that complies with Section 10.3(a) of a Third Party Claim, does not elect to defend such Third Party Claim within sixty (60) days after receipt of such written notice, the Indemnified
Party shall have the right, in addition to any other right or remedy it may have hereunder, at the Indemnifying Party’s expense, to defend such Third Party Claim (upon providing further written notice to the Indemnifying Party), subject to the
right of the Indemnifying Party to (A) assume the defense of such Third Party Claim at any time prior to the settlement, compromise or final determination thereof and (B) approve the counsel selected by the Indemnified Party
(“Indemnified Party Counsel”), which approval shall not be unreasonably withheld or delayed; provided, however, that the Indemnified Party shall not settle, compromise or discharge, or admit any liability with respect
to any such Third Party Claim without the written consent of the Indemnifying Party (which consent shall not be unreasonably withheld or delayed). 
 (v) Notwithstanding the foregoing, unless expressly agreed by the Indemnifying Party, the Indemnified Party Counsel (A) shall have 
  

 23. 

 no conflict of interest relative to the Indemnifying Party; (B) shall not previously
have acted in any matter adverse to the Indemnifying Party with respect to any matters arising under this Agreement; (C) shall not assume any representation adverse to the Indemnifying Party during the time of its retention as Indemnified Party
Counsel; and (D) shall not assume any representation of the Indemnified Party in any other dispute between the Parties during the time of its retention as Indemnified Party Counsel. 
 (vi) If the Indemnified Party wishes to admit liability or agree or compromise in respect of any Third Party Claim it is
defending pursuant to Section 10.3(b)(iv), it must provide a written notification to the Indemnifying Party specifying the course of action proposed by the Indemnified Party to be taken (including the amount of any proposed settlement). If no
reply is received from the Indemnifying Party within thirty (30) days of such written notification being made to it by the Indemnified Party, then the Indemnifying Party shall be deemed to have consented to the course of action proposed by the
Indemnified Party to be taken; provided, however, that the Indemnified Party shall not consent, and the Indemnifying Party shall not be required to agree, to the entry into any settlement that (A) requires an express admission of
wrongdoing by the Indemnifying Party or (B) provides for injunctive or other non-monetary relief affecting the Indemnifying Party in any way. If the Indemnifying Party provides written notice to the Indemnified Party within the thirty
(30) day period that it does not consent to the intended course of action, it shall set out the reasons therefor, as well as the course of action which it believes should be followed in respect of any proposed admission of liability, agreement
or compromise with respect to the Third Party Claim. 
 (vii) If an Indemnified Party otherwise settles a Third
Party Claim it is defending pursuant to Section 10.3(b)(iv) without obtaining the Indemnifying Party’s written consent to such settlement (or waiting the required thirty (30) days), then the Indemnifying Party shall be relieved of its
indemnification obligations hereunder with respect to such Third Party Claim unless the Indemnified Party demonstrates that (A) it was actually liable to the Third Party claimant; (B) there was no good defense available; and (C) the
settlement amount was reasonable; and if the Indemnified Party does demonstrate the matters listed in the foregoing clauses (A), (B) and (C), then any right to indemnification for such Third Party Claim shall be subject to the requirements and
limitations of this Article X. 
 Section 10.4 Limitations. 
 (a) Notwithstanding anything else contained in this Agreement to the contrary, but subject to Section 10.4(c), each of CitiLife’s
and Primerica’s total liability (other than for the payment of Fees) under this Agreement for any and all claims arising during any single Contract Year shall not exceed the aggregate amount of the Fees payable by CitiLife during such Contract
Year; provided, that if this Agreement has been in effect for less than twelve (12) months, the Fees shall be annualized to a full twelve (12) months. 
  

 24. 

 (b) EXCEPT TO THE EXTENT OTHERWISE EXPRESSLY PROVIDED IN THIS ARTICLE X, NEITHER PARTY WILL
BE LIABLE TO THE OTHER PARTY (OR TO ANY PERSON OR ENTITY CLAIMING THROUGH THE OTHER PARTY) FOR LOST PROFITS OR FOR SPECIAL, INCIDENTAL, INDIRECT, PUNITIVE, CONSEQUENTIAL OR EXEMPLARY DAMAGES ARISING OUT OF OR IN ANY MANNER CONNECTED WITH THIS
AGREEMENT OR THE SUBJECT MATTER HEREOF, REGARDLESS OF THE FORM OF ACTION AND WHETHER OR NOT SUCH PARTY HAS BEEN INFORMED OF, OR OTHERWISE MIGHT HAVE ANTICIPATED, THE POSSIBILITY OF SUCH DAMAGES. 
 (c) THE LIMITATIONS OF LIABILITY SET FORTH IN THIS SECTION 10.4 SHALL NOT APPLY TO DAMAGES (i) ARISING OUT OF INDEMNIFICATION
CLAIMS UNDER THIS AGREEMENT, (ii) RESULTING FROM THE GROSS NEGLIGENCE OR THE WILLFUL OR INTENTIONAL MISCONDUCT OF A PARTY OR ITS PERSONNEL, (iii) STEMMING FROM PERSONAL INJURY, DEATH, OR PROPERTY DAMAGE CAUSED BY A PARTY OR ITS PERSONNEL,
OR (iv) ARISING FROM EITHER PARTY’S BREACH OF ITS OBLIGATIONS SET FORTH IN ARTICLE IV OR ARTICLE VI. 
 Section 10.5 Exclusions. Notwithstanding anything contained in this Agreement to the contrary, in no event shall any Indemnifying Party be obligated under this Article X to indemnify an Indemnified Party otherwise entitled to
indemnity hereunder in respect of any Losses to the extent that such Losses result from (a) the Indemnified Party’s willful or intentional misconduct or negligence, (b) the acts or omissions of the Indemnified Party,
(c) violation of Law by the Indemnified Party or (d) acts taken by the Indemnifying Party at the Indemnified Party’s direction. 
 Section 10.6 Payments. Amounts payable by the Indemnifying Party to the Indemnified Party in respect of any Losses for which such Party is entitled to indemnification hereunder
(“Indemnity Payments”) shall be paid in immediately available funds within thirty (30) Business Days of receipt by the Indemnifying Party of a written notice from the Indemnified Party that the payment that is the subject of
the Indemnity Payment has been made by the Indemnified Party, except to the extent such Indemnity Payment is contested by the Indemnifying Party. All such Indemnity Payments shall be made to the designated account of, and in the manner specified in
writing by, the Party entitled to such Indemnity Payments. 
 Section 10.7 Insurance. Notwithstanding anything
contained in this Agreement to the contrary, Losses shall be net of any insurance or other prior or subsequent recoveries actually received by the Indemnified Party or its Affiliates in 
  

 25. 

 connection with the facts giving rise to the claim for indemnification. If an Indemnified Party shall have
used commercially reasonable efforts to recover any amounts recoverable under insurance policies and shall not have recovered the applicable Losses, the Indemnifying Party shall be liable for the amount by which such Losses exceeds the amounts
actually recovered. 
 Section 10.8 Remedies Exclusive. Except as otherwise specifically provided herein, the
remedies provided in this Agreement shall be the exclusive monetary remedies (including equitable remedies that involve monetary payment, such as restitution or disgorgement, other than specific performance to enforce any payment or performance due
hereunder) of the Parties with respect to Third Party Claims, and Section 10.4 shall govern with respect to all other claims for monetary remedies, in each case from and after the Effective Date in connection with any non-performance, partial
or total, of any term, provision, covenant or agreement contained herein shall be governed by this Article X. 
 Section 10. 9
Mitigation. Notwithstanding anything to the contrary contained in this Agreement, each Indemnified Party shall use commercially reasonable efforts to mitigate any claim or liability that an Indemnified Party asserts or may assert under this
Agreement. In the event that an Indemnified Party shall fail to make such commercially reasonable efforts to mitigate any such claim or liability, then notwithstanding anything contained in this Agreement to the contrary, neither CitiLife nor
Primerica, as the case may be, shall be required to indemnify any Indemnified Party for that portion of any Losses that would reasonably be expected to have been avoided if the Indemnified Party had made such efforts. 
  

 26. 

 ARTICLE XI 
 TERM AND TERMINATION 
 Section 11.1 Term of
Agreement. Except as otherwise expressly set forth in this Agreement, this Agreement shall become effective, and each Service shall commence, on the Effective Date, and this Agreement shall remain in force, and each Service shall continue until
the expiration of the last-to-expire Covered Contract (the “Term”), unless earlier terminated by the Parties as provided in this Article XI. Notwithstanding the foregoing, CitiLife’s use of the PeopleSoft application Service
identified at 18 in Schedule 2.1 shall commence on the Effective Date and shall continue for six (6) months thereafter, unless earlier terminated pursuant to Section 11.2(b). 
 Section 11.2 Termination. 
 (a) Termination by CitiLife or Primerica. This Agreement, or any Service provided hereunder, as applicable, may be terminated by either Party (the “Terminating Party”) upon written
notice to the other Party, if: 
 (i) the other Party fails to perform or otherwise breaches a material provision
of this Agreement and such failure or breach is not cured, to the reasonable satisfaction of the Terminating Party, within thirty (30) days of written notice thereof; provided, that the Parties first submit any such uncured failure or
breach for resolution in accordance with the procedures set forth in Section 12.14; 
 (ii) the other Party
fails to perform or otherwise breaches a material provision of this Agreement, where such second failure or breach is substantially similar to a prior failure or breach by such other Party, unless, within thirty (30) days of written notice of
such subsequent failure or breach, such other Party has (A) cured such subsequent failure or breach to the reasonable satisfaction of such Party (if such failure or breach is subject to cure) and (B) demonstrated, to such Party’s sole
satisfaction, that such other Party has enacted remedial measures designed to prevent the failure or breach from occurring again; 
 (iii) the other Party makes a general assignment for the benefit of creditors or becomes insolvent, or a receiver is appointed for, or a court approves reorganization or arrangement proceedings on, such
Party; 
 (iv) performance of this Agreement or any Service provided hereunder has been rendered impossible for a
period of at least sixty (60) days by reason of the occurrence of any Force Majeure Event, or if any other event occurs that is reasonably deemed to permanently prevent the performance of this Agreement or any Service provided hereunder;
provided, however, that this Agreement may only be terminated under this Section 11.2(a)(iv) with respect to the affected Service and, provided, further, that if this Agreement is so terminated with respect to one or more
affected Services, CitiLife shall be entitled to receive a corresponding reduction in the Fees; or 
  

 27. 

 (v) required by any Governmental Authority, upon thirty (30) days’
notice or sooner if necessary; provided, however, that prior to any such notice of termination, the Parties mutually agree that this Agreement cannot be amended in a manner that will satisfy such Governmental Authority without
materially changing the effect or intent of this Agreement. 
 (b) Termination by CitiLife. Notwithstanding anything in
this Agreement to the contrary, CitiLife shall have the right at any time, at its option and without cause, (i) to terminate this Agreement upon one hundred twenty (120) days prior written notice to Primerica and (ii) to terminate its
use of the PeopleSoft application Service identified at 18 in Schedule 2.1 upon thirty (30) days prior written notice to Primerica and, upon the effective date of such termination, to receive a corresponding reduction in the Fees.

 (c) Termination by Primerica. Notwithstanding anything in this Agreement to the contrary, Primerica shall have the
right to terminate this Agreement upon three hundred sixty-five (365) days prior written notice to CitiLife in the event that any material component of the infrastructure used by Primerica to provide the Services is being discontinued and no
alternative arrangements are available on commercially reasonable terms. 
 (d) Termination Following Assignment or Change of
Control. Notwithstanding anything in this Agreement to the contrary, Primerica shall have the right to terminate this Agreement upon three hundred sixty-five (365) days prior written notice to CitiLife in the event of (i) any Change of
Control of CitiLife or (ii) any sale by CitiLife of all or substantially all of the Retained Business, in each case to an unaffiliated third party, provided that Primerica provides such notice of termination within thirty (30) days
following its receipt of notification of such Change of Control or sale, as applicable. 
 Section 11.3 Effect of
Termination. In the event that this Agreement is terminated for any reason: 
 (a) Each Party agrees and acknowledges that
the obligations of Primerica to provide the Services, or to cause the Services to be provided, hereunder shall immediately cease. Upon cessation of Primerica’s obligation to provide any Service, CitiLife shall stop using, directly or
indirectly, such Service. 
 (b) Upon request, each Party shall, and shall cause its Affiliates and third parties (subject to
the terms of such Party’s agreements with such third parties) retained by such Party or its Affiliates to, return to the other Party or, at the other Party’s option, destroy (and certify to the destruction of) all tangible personal
property and books, records or files owned by such other Party or its Affiliates or third parties and used in connection with the provision or receipt of Services that are in their possession as of the termination date. 
  

 28. 

 (c) The following matters shall survive the termination of this Agreement (i) the
rights and obligations of each Party under Section 5.3, Section 5.4, Section 5.5, Section 5.6, Article VI, Article VII, Article IX, Article X, this Section 11.3, Section 11.4 and Article XII and (ii) the
obligations under Article IV of CitiLife to pay the applicable Fees for Services furnished prior to the effective date of termination. 
 Section 11.4 Termination Phase Assistance. 
 (a) CitiLife may elect, by written notice to Primerica delivered
no later than ten (10) Business Days after the delivery of any notice of termination of this Agreement or a Service in accordance with the terms hereof, to receive migration services from Primerica as set forth herein for a period beginning as
of the date of Citi’s notice and continuing until the later of (i) the date that is 60 (sixty) days following such notice of termination and (ii) the effective date of such termination (such period, the “Termination
Phase”). 
 (b) During the Termination Phase, in addition to the Services, Primerica shall perform for CitiLife or its
designee such services as are reasonably necessary to facilitate the orderly migration of the Services to CitiLife or its designee (the “Termination Phase Services”). Each Party shall use reasonable efforts, communication and
cooperation to achieve the migration in a commercially reasonable manner for each of the Parties. CitiLife shall bear the costs incurred by both Parties in connection with the Termination Phase Services. 
 ARTICLE XII 
 MISCELLANEOUS 
 Section 12.1 Construction; Absence of Presumption. 
 (a) For the purposes of this Agreement, (i) words (including capitalized terms defined herein) in the singular shall be held to include
the plural and vice versa and words (including capitalized terms defined herein) of one gender shall be held to include the other gender as the context requires; (ii) the terms “hereof,” “herein” and
“herewith” and words of similar import shall, unless otherwise stated, be construed to refer to this Agreement as a whole (including all of the Schedules, Exhibits and Addenda) and not to any particular provision of this Agreement, and
Article, Section, paragraph, Schedule, Exhibit and Addendum references are to the Articles, Sections, paragraphs, Schedules, Exhibits and Addenda to this Agreement, unless otherwise provided; (iii) the word “including” and words of
similar import when used in this Agreement shall mean “including, without limitation”; (iv) references to this Agreement shall, unless otherwise stated, be construed to refer to this Agreement as a whole (including all Schedules,
Exhibits and Addenda) and any amendments hereto or thereto; (v) all references to any period of days shall be deemed to be to the relevant number of calendar days unless otherwise provided; and (v) all references herein to “$” or
dollars shall refer to United States dollars, unless otherwise provided. 
  

 29. 

 (b) For the avoidance of doubt, with respect to all references in this Agreement to
“prior written consent, which shall not be unreasonably withheld, conditioned or delayed,” it shall be deemed reasonable for the applicable Party to withhold, condition or delay any such consent because of requirements of Law or any
objection from a Regulatory Body, including any guidance or other advice or direction communicated informally by Regulatory Bodies to the applicable Party. 
 (c) The Parties hereby acknowledge that each Party and its counsel have reviewed and revised this Agreement and that no rule of construction to the effect that any ambiguities are to be resolved against
the drafting Party shall be employed in the interpretation of this Agreement (including all of the Schedules, Exhibits and Addenda) or any amendments hereto or thereto. 
 Section 12.2 Headings. The Article and Section headings contained in this Agreement are inserted for convenience of reference only and shall not affect the meaning or interpretation of this
Agreement. 
 Section 12.3 Notices. All notices, demands and other communications required or permitted to be given
to any Party under this Agreement must be in writing. Any such notice, demand or other communication will be deemed to have been duly given (i) when delivered by hand, courier or overnight delivery service; (ii) two (2) Business Days
after deposit in the mail, provided such mail is sent certified or registered mail, return receipt requested and with first-class postage prepaid; or (iii) in the case of facsimile notice, when sent and transmission is confirmed. Regardless of
method, all such notices, demands and other communications must be addressed to the Party at its address or facsimile number set forth below (or at such other address or facsimile number as the Party may furnish the other Party in accordance with
this Section) and, must also be included in an email transmission using the email address provided below: 
  

	 	(a)	If to CitiLife: 

 CitiLife Financial Ltd. 
 8 Janetville St. 
 Brampton, 
 Ontario Canada L6P 2A3 
 Attn: Reza Shah 
 Phone: (905) 794-9494 
 Email address: Reza.Shah@citi.com 
 Citi Operations &
Technology 
 283 King George Road, C-2 
 Warren, NJ 07059 
 Attn: Brad Tessler 
 Phone: (908) 563-0080 
 Email address: tesslerb@citi.com 
  

 30. 

 With a copy to: 
 Skadden, Arps, Slate, Meagher & Flom LLP Four 
 Times Square 
 New York, New York 10036-6522 
 Attn: Jeffrey Brill 
 Facsimile: (917) 777-2587 
 Email address: Jeffrey.Brill@skadden.com 
  

	 	(b)	If to Primerica: 

 3120 Breckinridge Boulevard 
 Duluth, GA 30099-0001 Attn: President Facsimile: (770) 564-5669

 With a copy to: 
 3120 Breckinridge Boulevard 
 Duluth, GA 30099-0001 
 Attn: General Counsel 
 Facsimile: (770) 564-6216 
 Email address:
Peter.Schneider@primerica.com 
 Section 12.4 Governing Law. This Agreement shall be governed by and construed in
accordance with the Laws of the State of New York applicable to agreements made and to be performed entirely within such state, without regard to the conflict of laws principles of such state. 
 Section 12.5 Jurisdiction; Venue; Consent to Service of Process. With respect to any action, suit or other proceeding resulting
from, relating to or arising out of this Agreement, each Party irrevocably and unconditionally submits to the exclusive jurisdiction of the United States District Court for the Southern District of New York or, if such court will not accept
jurisdiction, the Supreme Court of the State of New York or any court of competent civil jurisdiction sitting in New York County, New York (and each Party agrees not to commence any such action, suit or other proceeding except in such courts). In
any such action, suit or other proceeding, each Party irrevocably and unconditionally waives and agrees not to assert by way of motion, as a defense or otherwise any claims (a) that it is not subject to the jurisdiction of the above courts,
(b) that such action or suit is brought in an inconvenient forum or (c) that the venue of such action, suit or other proceeding is improper. Each Party also hereby agrees that any final and unappealable judgment against a Party in
connection with any such action, suit or other proceeding shall be conclusive and binding on such Party and that such award or judgment may be enforced in any court of competent jurisdiction, either within or outside of the United States. A
certified or exemplified copy of such award or judgment shall be conclusive evidence of the fact and amount of such award or judgment. With respect to 
  

 31. 

 any action, suit or other proceeding for which it has submitted to jurisdiction pursuant to this Section,
each Party irrevocably consents to service of process in the manner provided for the giving of notices pursuant to Section 12.3 of this Agreement. Nothing in this Section shall affect the right of any Party to serve process in any other manner
permitted by Law. The foregoing consent to jurisdiction shall not (a) constitute submission to jurisdiction or general consent to service of process in the State of New York for any purpose except with respect to any action, suit or proceeding
resulting from, relating to or arising out of this Agreement or (b) be deemed to confer rights on any person other than the respective Parties to this Agreement. 
 Section 12.6 Entire Agreement. This Agreement, together with all Schedules, Exhibits and Addenda hereto and thereto, embody the entire agreement of the Parties hereto with respect to the
subject matter hereof and supersede all prior agreements with respect thereto. The Parties intend that this Agreement shall constitute the complete and exclusive statement of its terms and that no extrinsic evidence whatsoever may be introduced in
any judicial proceeding involving this Agreement. 
 Section 12.7 Amendment, Modification and Waiver. No amendment
to this Agreement shall be effective unless it shall be in writing and signed by each Party hereto. Any failure of a Party to comply with any obligation, covenant, agreement or condition contained in this Agreement may be waived by the Party
entitled to the benefits thereof only by a written instrument duly executed and delivered by the Party granting such waiver, but such waiver or failure to insist upon strict compliance with such obligation, covenant, agreement or condition shall not
operate as a waiver of, or estoppel with respect to, any subsequent or other failure of compliance. 
 Section 12.8
Severability. If any provision of this Agreement, or the application of any such provision, is invalid, illegal or unenforceable in any jurisdiction, such invalidity, illegality or unenforceability shall not affect any other provision of this
Agreement, or invalidate or render unenforceable such provision in any other jurisdiction. To the extent permitted by applicable Law, the Parties waive any provision under Law that renders any provision of this Agreement invalid, illegal or
unenforceable in any respect. The Parties shall, to the extent lawful and practicable, use commercially reasonable efforts to enter into arrangements to reinstate the intended benefits, net of the intended burdens, of any such provision held
invalid, illegal or unenforceable. 
 Section 12.9 Successors and Assigns; No Third Party Beneficiaries. This
Agreement and all its provisions shall be binding upon and inure to the benefit of the Parties and their respective permitted successors and assigns. Nothing in this Agreement, whether expressed or implied, will confer on any person, other than the
Parties or their respective permitted successors and assigns, any rights, remedies or liabilities; provided, that the provisions of Article X will inure to the benefit of the Indemnified Parties and the provisions of the Data Protection
Agreement and any other agreement entered into between Primerica and a third party pursuant to Section 8.6(b) shall inure to the benefit of the relevant Data Subjects, to the extent required to comply with applicable Law. No 
  

 32. 

 Party may assign its rights or obligations under this Agreement without the prior written consent of the
other Party (which consent may not be unreasonably withheld or delayed) and any purported assignment without such consent shall be void; provided, that CitiLife may, without the consent of Primerica, assign or transfer any or all of its
rights, and its respective related obligations hereunder, to (a) any of its Affiliates (although no such assignment shall relieve CitiLife of its obligations to Primerica or any Primerica Indemnified Party hereunder), (b) any entity which
has succeeded to all or substantially all of the Retained Business so long as such entity assumes all of CitiLife’s obligations in writing or (c) any third party engaged by CitiLife to administer the Covered Contracts. 
 Section 12.10 WAIVER OF JURY TRIAL. TO THE FULLEST EXTENT PERMITTED BY LAW, EACH OF THE PARTIES HERETO IRREVOCABLY WAIVES ALL
RIGHT TO TRIAL BY JURY IN ANY ACTION, SUIT, PROCEEDING OR COUNTERCLAIM ARISING OUT OF OR RELATING TO THIS AGREEMENT OR ANY OF THE TRANSACTIONS CONTEMPLATED BY THIS AGREEMENT. 
 Section 12.11 Expenses. Except as otherwise expressly stated in this Agreement, any costs, expenses, or charges incurred by any
of the Parties shall be borne by the Party incurring such cost, expense or charge whether or not the transactions contemplated by this Agreement shall be consummated. 
 Section 12.12 Counterparts. This Agreement may be executed by the Parties in multiple counterparts which may be delivered as an electronic copy or by facsimile transmission. Each counterpart
when so executed and delivered shall be deemed an original, and all such counterparts taken together shall constitute one and the same instrument. 
 Section 12.13 Relationship of the Parties. Each Party and its Affiliates, as applicable, shall be acting as an independent company in performing under this Agreement, and shall not be
considered or deemed to be an agent, employee, joint venturer or partner of the other Party or any of its Affiliates, as applicable. Each Party and its Affiliates, as applicable, shall, at all times, maintain complete control over its Personnel and
operations, and shall have sole responsibility for staffing, instructing and compensating its Personnel. Neither Party (nor its Affiliates, as applicable) shall have, or shall represent that it has, any power, right or authority to bind the other
Party (or its Affiliates, as applicable) to any obligation or liability, to assume or create any obligation or liability or transact any business in the name or on behalf of the other Party (or its Affiliates, as applicable), or make any promises or
representations on behalf of the other Party (or its Affiliates, as applicable), unless agreed to in writing. 
 Section 12.14 Dispute Resolution. In the event of any dispute, controversy or claim arising out of or relating to this Agreement, or the breach, termination or validity thereof, including the dispute of any Fees invoiced under
Article IV or any claim by any Party that any other Party has breached the material terms hereof (each, a “Dispute”), the Service Coordinators of CitiLife and Primerica shall meet (by 
  

 33. 

 telephone or in person) no later than two (2) Business Days after receipt of notice by any Party of a
request for resolution of a Dispute. The Service Coordinators shall enter into negotiations aimed at resolving any such Dispute. If the Service Coordinators are unable to reach mutually satisfactory resolution of the Dispute within ten
(10) Business Days after receipt of notice of the Dispute, the Dispute shall be referred to an executive committee comprised of at least one member of the senior management of each Party (the “Executive Committee”). The initial
members of the Executive Committee, including relevant contact information, are set forth on Schedule 12.14, and either Party may replace its Executive Committee members at any time with other representatives of similar seniority by
providing notice in accordance with Section 12.3. The Executive Committee will meet (by telephone or in person) during the next ten (10) Business Days and attempt to resolve the Dispute. If the Executive Committee is unable for any reason
to resolve a Dispute within thirty (30) days after the receipt of notice of the Dispute, then either party may submit the Dispute to arbitration in accordance with Section 12.15 hereof as the exclusive means to resolve such Dispute.

 Section 12.15 Arbitration. 
 (a) Any Dispute not resolved pursuant to Section 12.14 hereof shall, at the request of either Party, be finally settled by arbitration administered by the American Arbitration Association (the
“AAA”) under its Commercial Arbitration Rules then in effect (the “Rules”) except as modified herein. The arbitration shall be held in New York, New York. 
 (b) There shall be three (3) arbitrators of whom each Party shall select one within fifteen (15) days of respondent’s receipt
of claimant’s demand for arbitration. The two party-appointed arbitrators shall select a third arbitrator to serve as Chair of the tribunal within fifteen (15) days of the selection of the second arbitrator. If any arbitrator has not been
appointed within the time limits specified herein, such appointment shall be made by the AAA in accordance with the Rules upon the written request of either party within fifteen (15) days of such request. The hearing shall be held no later than
one hundred twenty (120) days following the appointment of the third arbitrator. 
 (c) The arbitral tribunal shall permit
prehearing discovery that is relevant to the subject matter of the Dispute taking into account the Parties’ desire that the arbitration be conducted expeditiously and cost effectively. All discovery shall be completed within sixty
(60) days of the appointment of the third arbitrator. 
 (d) By agreeing to arbitration, the Parties do not intend to
deprive a court of its jurisdiction to issue a pre-arbitral injunction, pre-arbitral attachment, or other order in aid of arbitration proceedings and the enforcement of any award. Without prejudice to such provisional remedies as may be available
under the jurisdiction of a court, the arbitral tribunal shall have full authority to grant provisional remedies, to direct the Parties to request that any court modify or vacate any temporary or preliminary 
  

 34. 

 relief issued by such court, and to award damages for the failure of any party to respect the arbitral
tribunal’s orders to that effect. For the purpose of any provisional relief contemplated hereunder, the Parties hereby submit to the exclusive jurisdiction of the New York Courts. Each Party unconditionally and irrevocably waives any objections
which they may have now or in the future to the jurisdiction of the New York Courts including objections by reason of lack of personal jurisdiction, improper venue, or inconvenient forum. 
 (e) The award shall be in writing, shall state the findings of fact and conclusions of law on which it is based, shall be final and binding
and shall be the sole and exclusive remedy between the Parties regarding any claims, counterclaims, issues, or accounting presented to the arbitral tribunal. The arbitration shall be governed by the United States Arbitration Act, 9 U.S.C. § 1
et seq., and judgment upon any award may be entered in any court having jurisdiction. 
 (f) The Parties will bear
equally all fees, costs, disbursements and other expenses of the arbitration, and each Party shall be solely responsible for all fees, costs, disbursements and other expenses incurred in the preparation and prosecution of their own case;
provided that in the event that a Party fails to comply with the orders or decision of the arbitral tribunal, then such noncomplying Party shall be liable for all costs and expenses (including attorneys fees) incurred by the other Party in
its effort to obtain either an order to compel, or an enforcement of an award, from a court of competent jurisdiction. 
 (g)
The arbitral tribunal shall have the authority, for good cause shown, to extend any of the time periods in this arbitration provision either on its own authority or upon the request of any of the Parties. The arbitral tribunal shall be authorized in
its discretion to grant pre-award and post-award interest at commercial rates. The arbitral tribunal shall have no authority to award punitive, exemplary or multiple damages or any other damages not measured by the prevailing Parties’ actual
damages. The arbitral tribunal shall have the authority to order specific performance or to issue any other type of temporary or permanent injunction. 
 (h) All notices by one Party to the other in connection with the arbitration shall be in accordance with the provisions of Section 12.3 hereof, except that all notices for a demand for arbitration
made pursuant to this Article XII must be made by personal delivery or receipted overnight courier. This agreement to arbitrate shall be binding upon the successors and permitted assigns of each Party. This Agreement and the rights and obligations
of the Parties shall remain in full force and effect pending the award in any arbitration proceeding hereunder. 
  

 35. 

 [Remainder of page intentionally left blank] 
  

 36. 

 IN WITNESS WHEREOF, each Party hereto has caused this Agreement to be duly executed on its
behalf as of the day and year first above written. 
  

			
	 CITILIFE FINANCIAL LIMITED

		
	 By:
	 	  

	 Name:
	 	
	 Title:
	 	
	
	PRIMERICA LIFE INSURANCE COMPANY
		
	 By:
	 	  

	 Name:
	 	
	 Title:Form of 80% Coinsurance Agreement

 Exhibit 10.5 
 CONFIDENTIAL 
 80% COINSURANCE AGREEMENT

 by and between 
 PRIMERICA LIFE INSURANCE COMPANY 
 (the “Ceding Company”) 

 and 
 PRIME REINSURANCE COMPANY, INC. 
 (the “Reinsurer”) 
 Dated [                    ], 2010

 TABLE OF CONTENTS 
  

					
	 	  	 	  	Page
	ARTICLE I
	
	DEFINITIONS
			
	 Section 1.1
	  	Definitions	  	1
	
	ARTICLE II
	
	REINSURANCE
			
	 Section 2.1
	  	Reinsurance	  	10
	 Section 2.2
	  	Exclusions	  	10
	 Section 2.3
	  	Territory	  	11
	
	ARTICLE III
	
	COMMENCEMENT OF THE REINSURER’S LIABILITY
			
	 Section 3.1
	  	Commencement of the Reinsurer's Liability	  	11
	
	ARTICLE IV
	
	REINSURANCE PREMIUMS, ALLOWANCES AND OTHER OBLIGATIONS
			
	 Section 4.1
	  	Reinsurance Premiums	  	11
	 Section 4.2
	  	Allowances	  	11
	 Section 4.3
	  	Other Obligations	  	12
	 Section 4.4
	  	Third Party Reinsurance	  	12
	
	ARTICLE V
	
	TAXES
			
	 Section 5.1
	  	Guaranty Fund Assessments	  	12
	 Section 5.2
	  	Premium Taxes	  	12
	 Section 5.3
	  	DAC Tax Election	  	12
	
	ARTICLE VI
	
	CLAIMS
			
	 Section 6.1
	  	Notice of Claims	  	14

					
	 Section 6.2
	  	Settlement Authority	  	14
	 Section 6.3
	  	Claim Payments	  	14
	 Section 6.4
	  	Misstatement of Age or Sex	  	14
	
	ARTICLE VII
	
	REINSTATEMENTS
			
	 Section 7.1
	  	Reinstatements	  	14
	
	ARTICLE VIII
	
	ACCOUNTING AND RESERVES
			
	 Section 8.1
	  	Monthly Reports	  	14
	 Section 8.2
	  	Monthly Account Balance Reports	  	15
	 Section 8.3
	  	Settlements	  	15
	 Section 8.4
	  	Offset and Recoupment	  	15
	 Section 8.5
	  	Currency	  	15
	
	ARTICLE IX
	
	EXPENSES IN CONNECTION WITH THE REINSURED POLICIES
			
	 Section 9.1
	  	Expenses in Connection with the Reinsured Policies	  	16
	
	ARTICLE X
	
	ERRORS AND OMISSIONS
			
	 Section 10.1
	  	Errors and Omissions	  	16
	
	ARTICLE XI
	
	RECAPTURE
			
	 Section 11.1
	  	Recapture	  	16
	 Section 11.2
	  	Notice of Recapture	  	17
	 Section 11.3
	  	Recapture Fee	  	17
	 Section 11.4
	  	Renewal Recapture	  	18
	 Section 11.5
	  	Commutation Accounting and Settlement	  	18
	 Section 11.6
	  	Limitation on Partial Recaptures	  	18
	
	ARTICLE XII
	
	ACCESS TO BOOKS AND RECORDS
			
	 Section 12.1
	  	Access to Books and Records	  	18

  

 ii 

					
	ARTICLE XIII
	
	INSOLVENCY
			
	 Section 13.1
	  	Insolvency	  	19
	
	ARTICLE XIV
	
	DISPUTE RESOLUTION
			
	 Section 14.1
	  	Consent to Jurisdiction	  	20
	 Section 14.2
	  	Waiver of Jury Trial	  	20
	 Section 14.3
	  	Specific Performance	  	20
	
	ARTICLE XV
	
	REINSURANCE TRUST ACCOUNT
			
	 Section 15.1
	  	Reinsurance Trust Agreement	  	20
	 Section 15.2
	  	Investment and Valuation of Trust Assets	  	21
	 Section 15.3
	  	Adjustment of Trust Assets and Withdrawals	  	21
	 Section 15.4
	  	Negotiability of Trust Assets	  	21
	 Section 15.5
	  	Ceding Company’s Withdrawals	  	22
	 Section 15.6
	  	Return of Excess Withdrawals	  	22
	 Section 15.7
	  	Costs of Trust	  	22
	
	ARTICLE XVI
	
	THIRD PARTY BENEFICIARY
			
	 Section 16.1
	  	Third Party Beneficiary	  	23
	
	ARTICLE XVII
	
	REPRESENTATIONS, WARRANTIES AND COVENANTS
			
	 Section 17.1
	  	Representations and Warranties of the Ceding Company	  	23
	 Section 17.2
	  	Covenants of the Ceding Company	  	25
	 Section 17.3
	  	Representations and Warranties of the Reinsurer	  	27
	 Section 17.4
	  	Covenants of the Reinsurer	  	28
	
	ARTICLE XVIII
	
	INDEMNIFICATION
			
	 Section 18.1
	  	Indemnification	  	29

  

 iii 

					
	ARTICLE XIX
	
	LICENSES; REGULATORY MATTERS
			
	 Section 19.1
	  	Licenses	  	30
	 Section 19.2
	  	Regulatory Matters	  	30
	
	ARTICLE XX
	
	DURATION OF AGREEMENT; TERMINATION
			
	 Section 20.1
	  	Duration	  	30
	 Section 20.2
	  	Termination	  	30
	 Section 20.3
	  	Survival	  	31
	
	ARTICLE XXI
	
	MISCELLANEOUS
			
	 Section 21.1
	  	Entire Agreement	  	31
	 Section 21.2
	  	Amendments	  	31
	 Section 21.3
	  	Severability	  	31
	 Section 21.4
	  	Governing Law	  	31
	 Section 21.5
	  	Notices	  	31
	 Section 21.6
	  	Consent to Jurisdiction	  	32
	 Section 21.7
	  	Service of Process	  	32
	 Section 21.8
	  	Assignment and Retrocession	  	33
	 Section 21.9
	  	Captions	  	33
	 Section 21.10
	  	Treatment of Confidential Information	  	33
	 Section 21.11
	  	No Waiver; Preservation of Remedies	  	34
	 Section 21.12
	  	Calendar Days	  	34
	 Section 21.13
	  	Counterparts	  	34
	 Section 21.14
	  	Incontestability	  	34
	 Section 21.15
	  	Interpretation	  	34
	 Section 21.16
	  	Reasonableness	  	35

 SCHEDULES

  

			
	 Schedule A
	  	Identification of Reserves
		
	 Schedule B
	  	No Conflict or Violation Exceptions

  

 iv 

 EXHIBITS 
  

			
	 Exhibit I
	  	Identification of Reinsured Policies
		
	 Exhibit II
	  	Third Party Reinsurance
		
	 Exhibit III
	  	Form of Monthly Report
		
	 Exhibit IV
	  	Form of Monthly Account Balance Report
		
	 Exhibit V
	  	Form of Reinsurance Trust Agreement
		
	 Exhibit VI
	  	Milliman Information
		
	 Exhibit VII
	  	Milliman Report

  

 v 

 80% COINSURANCE AGREEMENT 
 This 80% COINSURANCE AGREEMENT (together with the Exhibits hereto, this “Agreement”) is made on this the
[            ] day of [            ], 2010 by and between PRIMERICA LIFE INSURANCE COMPANY, a stock life insurance company
domiciled in the Commonwealth of Massachusetts (together with its successors and permitted assigns, the “Ceding Company”) and PRIME REINSURANCE COMPANY, INC., a special purpose financial captive insurance company domiciled in the
State of Vermont (together with its successors and permitted assigns, the “Reinsurer”). 
 WHEREAS, the Ceding
Company is engaged in the business of issuing certain life insurance policies and certain related riders; 
 WHEREAS, the Ceding
Company desires to cede to the Reinsurer on an indemnity reinsurance basis certain liabilities with respect to the Reinsured Policies (as defined herein); and 
 WHEREAS, the Reinsurer is willing to reinsure on an indemnity reinsurance basis the liabilities that the Ceding Company desires to cede hereunder on the terms and conditions set forth herein. 

NOW THEREFORE, in consideration of the mutual and several promises and undertakings herein contained, and for good and valuable
consideration, the receipt and adequacy of which are hereby acknowledged, the Ceding Company and the Reinsurer (individually, a “Party” and collectively, the “Parties”) hereby agree as follows: 
 ARTICLE I 
 DEFINITIONS 
 Section 1.1 Definitions. The following terms, when used in this Agreement, shall
have the meanings set forth in this Article I. 
 (a) “Administrative Practices” shall have
the meaning specified in Section 17.2(a). 
 (b) “Affiliate” means, with respect to a
Party, any entity that controls, is controlled by or is under common control with such Party 

 (c) “Agreement” shall have the meaning specified in the
Preamble. 
 (d) “Applicable Law” means any domestic or foreign, federal, state or local
statute, law, ordinance or code, or any written rules, regulations or administrative interpretations issued by any Governmental Authority pursuant to any of the foregoing, in each case applicable to any Party, and any order, writ, injunction,
directive, judgment or decree of a court of competent jurisdiction applicable to the Parties. 
 (e)
“Approval Period” shall mean forty-five (45) calendar days, and any forty-five (45) day extension thereof as consented to by the Ceding Company, which consent shall not be unreasonably conditioned, delayed or withheld;
provided, however, the Ceding Company shall not be required to consent to extend the Approval Period beyond an additional forty-five (45) days, for a total of ninety (90) days. 
 (f) “Business Day” means any day other than a day on which banks in the State of Vermont or the Commonwealth
of Massachusetts are permitted or required to be closed. 
 (g) “Capital Maintenance Agreement”
means the Capital Maintenance Agreement, dated as of [                    ] , 2010, by and between Citigroup, Inc. and the Reinsurer. 
 (h) “Capital Maintenance Failure” shall have the meaning specified in Section 11.1(e). 
 (i) “Ceding Company” shall have the meaning specified in the Preamble. 
 (j) “Change of Control” shall have the meaning specified in Section 21.10. 
 (k) “Claims” means any and all claims, requests, demands or notices made under a Reinsured Policy for
payment of benefits or other obligations, including death benefits, waived premiums, returned premium or any other payments alleged to be due in accordance with the terms and conditions of such Reinsured Policy. 
 (l) “Code” shall have the meaning specified in Section 5.2. 
 (m) “Commissioner” means the Commissioner of Insurance of the State of Vermont. 
  

 2 

 (n) “Commissions” means the contractual amounts earned by
and the bonuses paid to the Ceding Company’s sales representatives in connection with the Reinsured Policies on and after the Effective Date. 
 (o) “Commutation Payment” shall have the meaning specified in Section 11.5. 
 (p) “Confidential Information” shall have the meaning specified in Section 21.10. 
 (q) “Conversion” means the issuance by the Ceding Company of a new Coverage in replacement of a Coverage under a Reinsured Policy pursuant to an option granted under the terms of such
Reinsured Policy; provided, however, in no event shall Conversions include any Renewal. 
 (r)
“Coverage” means, with respect to any Policy, one or more life insurance coverages issued by the Ceding Company. A single Policy may have multiple Coverages issued to multiple individuals and such multiple Coverages, in turn, may
have different Original Initial Level Premium Periods, all within a single Policy. 
 (s) “Covered
Liabilities” means all liabilities incurred by the Ceding Company under the express terms of the Reinsured Policies (including End of Term Renewals) and all Reinsured ECOs; provided, however, in no event shall Covered
Liabilities include any Excluded Liabilities. 
 (t) “Direct Premiums” means all premiums
actually received from the Policyholders attributable to the Reinsured Policies from and after the Effective Date and waived premiums on such Policies. 
 (u) “Effective Date” means January 1, 2010. 
 (v) “Eligible Assets” means cash in United States dollars, certificates of deposit issued by a United States bank and payable in United States dollars, and investments permitted by M.G.L. c. 175 or any combination of the
above, provided investments in or issued by an entity controlling, controlled by or under common control with either the Ceding Company or the Reinsurer shall not exceed 5% of total investments. Commercial paper and other obligations of institutions
must be issued by a corporation (other than the Ceding Company or the Reinsurer, or any Affiliate of either) which is organized and existing under the laws of the United States of America, unless otherwise allowed by M.G.L. c. 175. The Eligible
Assets are further subject to and limited by, the investment guidelines set forth in the Reinsurance Trust Agreement. 
  

 3 

 (w) “End of Term Conversion” means, with respect to a
Coverage under a Reinsured Policy, a Conversion that occurs (i) at any time during the two year period ending on the last day of the Original Initial Level Premium Period of a Coverage or (ii) after the last day of such period. 

(x) “End of Term Renewal” means a Renewal that occurs at the end of the Original Initial Level Premium
Period. 
 (y) “Excluded Liabilities” shall have the meaning specified in Section 2.2.

 (z) “Existing Practice” shall have the meaning specified in Section 17.2(a). 

(aa) “Expense Allowance” means an annualized per base policy expense allowance equal to the
Reinsurer’s Quota Share multiplied by $42.50 for each Reinsured Policy payable on a monthly basis, which amount shall be increased (i) by 3% on the first anniversary date of the Effective Date and (ii) thereafter, by a compounded rate
equal to the percentage increase, if any, in the employment cost index published by the United States Bureau of Labor Statistics at http://www.bls.gov on each subsequent anniversary date of the Effective Date. 
 (bb) “Extra-Contractual Obligations” means all liabilities, obligations and expenses not arising under the
express terms and conditions of any Reinsured Policy, whether such liabilities, obligations or expenses are owing to an insured, a Governmental Authority or any other Person in connection with such Reinsured Policy, including (a) any liability
for punitive, exemplary, consequential, special, treble, tort, bad faith or any other form of extra-contractual damages, (b) damages or claims in excess of the applicable policy limits of the Reinsured Policies, (c) statutory or regulatory
damages, fines, penalties, forfeitures and similar charges of a penal or disciplinary nature, and (d) liabilities and obligations arising out of any act, error or omission, whether or not intentional, in bad faith or otherwise, including any
act, error or omission relating to (i) the form, marketing, production, issuance, sale, cancellation or administration of Reinsured Policies or (ii) the failure to pay or the delay in payment of claims, benefits, disbursements or any other
amounts due or alleged to be due under or in connection with Reinsured Policies (exclusive of interest on payments to Policyholders, as determined in accordance with the laws of the jurisdiction applicable to such Reinsured Policy). For avoidance of
doubt, any liabilities, obligations and expenses relating to any change in the Reinsured Policies arising out of or resulting from litigation, arbitration or settlements will be deemed Extra-Contractual Obligations. 
 (cc) “Fair Value” has the meaning set forth in the Reinsurance Trust Agreement. 
  

 4 

 (dd) “Governmental Authority” means any federal, state,
county, local, foreign or other governmental or public agency, instrumentality, commission, authority or self-regulatory organization, board or body. 
 (ee) “Indemnification Claims” shall have the meaning specified in Section 18.1. 
 (ff) “Initial Ceding Commission” shall have the meaning specified in Section 4.1. 
 (gg) “Insurance Division” means the Massachusetts Division of Insurance. 
 (hh) “Interest Maintenance Reserves” means the reserves required to be established under SAP as liabilities on a life insurer’s statutory financial statements applicable to all types
of fixed income investments. 
 (ii) “Massachusetts SAP” means the statutory accounting and
actuarial principles and practices prescribed or permitted by the Insurance Division for Massachusetts domestic life insurance companies. 
 (jj) “Milliman” shall have the meaning specified in Section 17.1(e). 
 (kk) “Milliman Information” shall have the meaning specified in Section 17.1(e). 
 (ll) “Milliman Report” shall mean the report attached hereto as Exhibit VII. 
 (mm) “Monthly Account Balance Report” shall have the meaning specified in Section 8.2. 
 (nn) “Monthly Report” shall have the meaning specified in Section 8.1. 
 (oo) “Net Premium” shall have the meaning specified in Section 4.1(b). 
 (pp) “Original Initial Level Premium Period” means, with respect to each Reinsured Policy, the period beginning with the original issue date of a Coverage and ending with the first
premium increase date identified within such Reinsured Policy on which premiums for such Coverage will increase without a corresponding increase in the terms or limits of such Coverage. 
  

 5 

 (qq) “Parties” shall have the meaning specified in the
Preamble. 
 (rr) “Person” means any natural person, corporation, limited liability company,
trust, joint venture, association, company, partnership, Governmental Authority or other entity. 
 (ss)
“Policies” means term life insurance base policies and riders thereto issued by the Ceding Company. 
 (tt) “Policyholders” means the owners or holders of one or more of the Reinsured Policies. 
 (uu) “Premium Taxes” means any Taxes imposed on premiums relating to the Reinsured Policies. 
 (vv) “Prime Rate” means, as of any day, a fluctuating interest rate per annum equal to the average (rounded upward to the nearest 1/16 of 1%) of the “prime” rate of interest announced publicly by Bank of America,
N.T. & S.A., The Chase Manhattan Bank, N.A., Citibank N.A. and Morgan Guaranty Trust Company of New York. If any of these banks does not publicly announce a prime rate, the Ceding Company and the Reinsurer (or its designee) shall jointly
select another bank that publicly announces a prime rate and the prime rate publicly announced by that bank shall be used. 
 (ww) “Primerica” means Primerica, Inc., a Delaware corporation. 
 (xx) “Primmer Piper” shall have the meaning specified in Section 21.7. 
 (yy) “Recapture Fee” shall have the meaning specified in Section 11.3. 
 (zz) “Recapture Notice” shall have the meaning specified in Section 11.2. 
 (aaa) “Reinstatement” shall have the meaning specified in Section 7.1. 
  

 6 

 (bbb) “Reinsurance Consideration” shall have the meaning
specified in Section 4.1(a). 
 (ccc) “Reinsurance Trust Account” shall have the meaning
specified in Section 15.1. 
 (ddd) “Reinsurance Trust Agreement” shall have the meaning
specified in Section 15.1. 
 (eee) “Reinsured ECOs” means (i) Extra-Contractual
Obligations paid by the Ceding Company to a single (or joint) policyholder or beneficiary in the ordinary course of business, consistent with prudent business practices and (ii) Extra-Contractual Obligations arising in circumstances where the
Reinsurer is an active party and directs or consents to the act, omission or course of conduct occurring after the date hereof that resulted in such Extra-Contractual Obligation; provided, however, that Reinsured ECOs shall not include
any liabilities: (x) relating to class actions of any kind; (y) relating to sales, marketing or distribution practices of the Ceding Company or its sales representatives directed or applied to any specific class of policyholders as
indicated on the underwriting records of the Ceding Company; or (z) relating to or based on violations of, or noncompliance with, Applicable Law by the Ceding Company. 
 (fff) “Reinsured Policies” means Policies issued (i) on the policy forms identified in Exhibit I and
riders thereto in force as of 11:59 p.m. (EST) on December 18, 2009 and (ii) as a result of any Conversions thereto, but not including any End of Term Conversions arising from Coverages with an Original Initial Level Premium Period ending
on or after January 1, 2017. 
 (ggg) “Reinsurer” shall have the meaning specified in the
Preamble. 
 (hhh) “Reinsurer’s Quota Share” means eighty percent (80%) or such other
percentage as modified to reflect a partial recapture of the Reinsurer’s Quota Share of the Reinsured Policies pursuant to the terms and conditions specified in Article XI. 
 (iii) “Renewal” means the continuation of coverage under a Reinsured Policy after the end of the Original
Initial Level Premium Period of such coverage in accordance with the terms of the Reinsured Policy. 
 (jjj)
“Renewal Recapture Right” shall have the meaning specified in Section 11.4. 
 (kkk)
“Representatives” shall have the meaning specified in Section 12.1. 
  

 7 

 (lll) “Required Balance” means, as of any date, the amount
equal to the Reinsurer’s Quota Share of the Statutory Reserves with respect to the Reinsured Policies. 
 (mmm) “Retained Asset Account” means the Primerica Estate Account identified in the financial statements of the Ceding Company, reflecting death benefit proceeds retained by the Company on behalf of beneficiaries and
available to such beneficiaries on demand. 
 (nnn) “SAP” means statutory accounting principles.

 (ooo) “Security” means the Reinsurance Trust Account to be established by the Reinsurer for
the purpose of securing its obligations to the Ceding Company with respect to the Covered Liabilities. 
 (ppp)
“Security Balance” means, as of the last day of each calendar quarter following the date hereof, the aggregate Fair Value as of such date of the Eligible Assets maintained in the Reinsurance Trust Account. 
 (qqq) “Statutory Financial Statement Credit” means credit for reinsurance permitted by the Massachusetts
General Laws on the Ceding Company’s statutory financial statements filed in the Commonwealth of Massachusetts with respect to the Reinsured Policies. 
 (rrr) “Statutory Reserves” means, as of any date, all reserves set forth on Schedule A as of such date corresponding to liabilities of a type or kind identified as Covered Liabilities,
related to the Reinsured Policies, such amount as determined by the Ceding Company in accordance with the methodologies used by the Ceding Company to calculate such amounts for purposes of its statutory financial statements prepared in accordance
with Massachusetts SAP and generally consistent with past practices as of all dates without giving effect to this Agreement or the 10% Coinsurance Agreement. 
 (sss) “Tax Authority” means the Internal Revenue Service and any other domestic or foreign Governmental
Entity responsible for the administration of any Taxes. 
 (ttt) “Taxes” means all forms of
taxation, whether of the United States or elsewhere and whether imposed by a local, municipal, state, federal, foreign or other body or instrumentality, and shall include, without limitation, income, excise, sales, use, gross receipts, value added
and premium taxes, together with any related interest, penalties and additional amounts imposed by any taxing authority. 
  

 8 

 (uuu) “Tax Return” means any and all returns, reports,
information returns or documents with respect to any Tax which is supplied to or required to be supplied to any Tax Authority, including any attachments, amendments and supplements thereto. 
 (vvv) “10% Coinsurance Agreement” means the Coinsurance Agreement, dated as of even date, by and between the
Ceding Company and the Reinsurer, pursuant to which the Ceding Company has agreed to cede on an indemnity basis to the Reinsurer, and the Reinsurer has agreed to reinsure on an indemnity basis, 10% of the Covered Liabilities. 
 (www) “Then Current Practice” shall have the meaning specified in Section 17.2(a). 
 (xxx) “Third Party Accountant” means an independent accounting firm which is mutually acceptable to Ceding
Company and Reinsurer, or, if Ceding Company and Reinsurer cannot agree on such an accounting firm, an independent accounting firm mutually acceptable to Ceding Company’s and Reinsurer’s respective independent accountants. 
 (yyy) “Third Party Reinsurance” means reinsurance of the Reinsured Policies placed with third party
reinsurers as identified and summarized in Exhibit II (as such Exhibit II may be amended from time to time). 
 (zzz) “Third Party Reinsurance Premiums” means all premiums paid by the Ceding Company on or after the Effective Date for coverage under Third Party Reinsurance, net of refunds of unearned premiums on lapse (except that the
refund of unearned premiums shall only apply for premiums payable under Third Party Reinsurance on or after the Effective Date). 
 (aaaa) “Top-Up Notice” shall have the meaning specified in Section 8.3. 
 (bbbb) “Trust Assets” shall have the meaning specified in Section 15.2. 
 (cccc) “Trustee” shall have the meaning specified in Section 15.1. 
  

 9 

 ARTICLE II 
 REINSURANCE 
 Section 2.1 Reinsurance.
Subject to the terms and conditions of this Agreement, the Ceding Company hereby cedes on an indemnity basis to the Reinsurer, and the Reinsurer hereby accepts and agrees to reinsure on an indemnity basis, the Reinsurer’s Quota Share of the
Covered Liabilities, provided, however, in the event of a recapture involving a pro rata portion of the Reinsurer’s Quota Share of the Reinsured Policies pursuant to Article XI hereof, the Reinsurer’s Quota Share of the Covered Liabilities
will be proportionately reduced. The Reinsurer’s Quota Share of Covered Liabilities shall be reduced, but not below zero, by the Reinsurer’s Quota Share of Third Party Reinsurance for Covered Liabilities in accordance with the respective
terms thereof, to the extent such Third Party Reinsurance is actually collected. 
 Section 2.2 Exclusions.
Notwithstanding any provision of this Agreement to the contrary, the Reinsurer shall not be liable for any liabilities or obligations of the Ceding Company that are not Covered Liabilities, including: 
 (a) liabilities relating to benefits, including, but not limited to, terminal illness benefits, other than life insurance
death benefits, any related waiver of premium coverages and write-offs of terminal illness policy loan balances; 
 (b) any liabilities resulting from any coverage added after the Effective Date to a Reinsured Policy that is not a Conversion or Renewal or otherwise required or permitted by the terms of such Reinsured Policy in effect on the Effective
Date, unless such additional coverage is required by applicable law or has been approved in writing in advance by the Reinsurer; 
 (c) any liabilities relating to deaths occurring prior to the Effective Date; 
 (d) Extra-Contractual Obligations, other than Reinsured ECOs; 
 (e)
any loss or liabilities relating to or arising from the Ceding Company’s Retained Asset Account for the Reinsured Policies; 
 (f) any losses or liabilities arising under any End of Term Conversion occurring on or after January 1, 2017; 
 (g) any loss or liabilities relating to or arising from actions taken by the Ceding Company without the consent of the
Reinsurer as required by Section 17.2(b) hereof; 
 (h) any loss or liabilities relating to or arising from
claims made, or lawsuits brought, by agents of the Ceding Company; and 
 (i) all liabilities or obligations of
any kind or nature whatsoever that do not relate to the Reinsured Policies (collectively, (a)-(i) constitute the “Excluded Liabilities”). 
  

 10 

 Section 2.3 Territory. The reinsurance provided under this Agreement shall apply to
the Covered Liabilities covering lives and risks wherever resident or situated. 
 ARTICLE III 
 COMMENCEMENT OF THE REINSURER’S LIABILITY 
 Section 3.1 Commencement of the Reinsurer’s Liability. Except as otherwise set forth in this Agreement, the Reinsurer’s liability under this Agreement shall attach simultaneously with
that of the Ceding Company, and all reinsurance with respect to which the Reinsurer shall be liable by virtue of this Agreement shall be subject in all respects to the same risks, terms, rates, conditions, interpretations, and to the same
modifications, alterations, cancellations and receivables under Third Party Reinsurance, as the respective Reinsured Policies to which liability under this Agreement attaches, the true intent of this Agreement being that the Reinsurer shall, in
every case to which liability under this Agreement attaches and always subject to the Excluded Liabilities, follow the fortunes of the Ceding Company. 
 ARTICLE IV 
 REINSURANCE PREMIUMS, ALLOWANCES AND OTHER
OBLIGATIONS 
 Section 4.1 Reinsurance Premiums. 
 (a) On the date hereof, as consideration for the reinsurance provided hereunder, the Ceding Company shall transfer to the
Reinsurance Trust Account on behalf of the Reinsurer an amount equal to (i) the Reinsurer’s Quota Share of the Statutory Reserves, Interest Maintenance Reserves (but only to the extent the Ceding Company’s Interest Maintenance
Reserves are reduced) and advance premiums attributable to the Reinsured Policies as of the Effective Date, less (ii) the sum of three billion one hundred fifty-nine million dollars ($3,159,000,000) (the “Initial Ceding
Commission”) and net deferred premiums (such amount, the “Reinsurance Consideration”). The Reinsurance Consideration shall be payable in Eligible Assets valued at Fair Value. Any Eligible Assets shall be free of all liens,
charges or encumbrances, and assigned or endorsed in blank by the Ceding Company to the Reinsurer in order to transfer absolutely and unequivocally all right, title and interest in such assets. 
 (b) As additional consideration for the reinsurance provided herein, on a monthly basis during the term of this Agreement,
the Ceding Company shall pay to the Reinsurer the Reinsurer’s Quota Share of Direct Premiums net of the Reinsurer’s Quota Share of Third Party Reinsurance Premiums (the “Net Premium”). The Net Premium shall be paid in
accordance with Article VIII. 
 Section 4.2 Allowances. At each month end following the date hereof, the Reinsurer shall
pay the Ceding Company the Expense Allowance calculated on the basis of the number of Reinsured Policies in force on such date. The number of Reinsured Policies in force

  

 11 

 
for each calendar month shall be determined by adding the number of Reinsured Policies in force on the last day of the prior calendar month (or December 18, 2009 for the initial calculation)
and the number of Reinsured Policies in force on the last day of the current calendar month and dividing that total by two (2); provided, however, if there are any End of Term Renewals, the Expense Allowance for the Reinsured Policies
associated with such End of Term Renewals that start after December 31, 2016 will be zero. The Expense Allowance shall be payable in accordance with Article VIII. 
 Section 4.3 Other Obligations. On a monthly basis during the term of this Agreement, the Reinsurer shall pay the Ceding Company the Reinsurer’s Quota Share of the following amounts:
(i) 2.3% of premiums collected for such month in connection with the Reinsured Policies as a provision for Premium Taxes incurred by the Ceding Company; (ii) $50 for each new Conversion which results in the issuance of a Reinsured Policy
(including the issuance of one or more riders to a base Policy); (iii) Commissions for each Reinsured Policy; and (iv) any out-of-pocket underwriting fees associated with Reinstatements. 
 Section 4.4 Third Party Reinsurance. The Ceding Company shall pay to the Reinsurer the Reinsurer’s Quota Share of all ceding
commissions and any Premium Tax or other expense allowances collected by the Ceding Company from the reinsurers under Third Party Reinsurance. 
 ARTICLE V 
 TAXES 
 Section 5.1 Guaranty Fund Assessments. Except as provided in Section 4.2, the Reinsurer shall not reimburse the Ceding Company
for any guaranty fund assessments arising on account of premiums on the Reinsured Policies. 
 Section 5.2 Premium Taxes.
The Ceding Company shall be liable for all Premium Taxes. The Reinsurer shall pay to the Ceding Company a provision for Premium Taxes incurred in connection with premiums received under the Reinsured Policies in accordance with Section 4.3.

 Section 5.3 DAC Tax Election. All uncapitalized terms used in this Section 5.2 shall have the meanings set forth
in the Treasury regulations under section 848 of the Internal Revenue Code of 1986, as amended (“Code”). 
 (a) The Parties will elect, pursuant to Treasury regulations section 1.848-2(g)(8), to determine specified policy acquisition expenses with respect to this Agreement without regard to the general
deductions limitation of section 848(c)(1) of the Code. This election shall be effective for the calendar year ending on or after the Effective Date and for all subsequent taxable years for which any reinsurance agreement is deemed to exist due to
an election made pursuant to Section 5.2 of this Agreement. Each Party agrees to attach to its Tax Return filed for the first taxable year ending after this election becomes effective a schedule that identifies this Agreement as the subject of
this election. The Party with the net positive consideration under this Agreement for each taxable year shall capitalize specified policy acquisition expenses with respect to this Agreement without regard to the general deductions limitation of
section 848(c)(1) of the Code. 
  

 12 

 (b) To ensure consistency, the Parties agree to exchange information
pertaining to the amount of net consideration deemed to be paid pursuant to any reinsurance agreement deemed to exist due to an election made pursuant to Section 5.2 of this Agreement. Ceding Company shall submit a schedule to Reinsurer by
March 1 of each year that follows a year during which this Agreement was in effect for any portion of such year of Ceding Company’s calculations of the net consideration under this Agreement for the preceding calendar year. This schedule
of calculations shall be accompanied by a statement signed by an officer of Ceding Company stating that Ceding Company will report such net consideration in its federal income tax return for the preceding calendar year. Reinsurer may contest such
calculation by providing an alternative calculation to Ceding Company in writing within thirty (30) days of Reinsurer’s receipt of Ceding Company’s calculation. If Reinsurer does not notify Ceding Company within such time that it
contests the calculation, Reinsurer shall report the net consideration as determined by Ceding Company in Reinsurer’s Tax Return for the previous calendar year. 
 (c) If Reinsurer contests Ceding Company’s calculation of the net consideration, the Parties will act in good faith to
reach an agreement as to the correct amount within thirty (30) days of the date Reinsurer submits its alternative calculation. If the Parties reach an agreement on an amount of net consideration, each Party will report the agreed upon amount in
its federal income tax return for the previous calendar year. If during such period, Ceding Company and Reinsurer are unable to reach agreement, they shall within ten (10) days of the expiration of the thirty (30) day period set forth in
this Section 5.2(c), cause a Third Party Accountant promptly to review (which review shall commence no later than five (5) days after the selection of the Third Party Accountant) this Agreement and the calculations of Ceding Company and
Reinsurer for the purpose of calculating the net consideration under this Agreement. In making such calculation, the Third Party Accountant shall consider only those items or amounts in Ceding Company’s calculation as to which Reinsurer has
disagreed. The Third Party Accountant shall deliver to Ceding Company and Reinsurer, as promptly as practicable (but no later than thirty (30) days after the commencement of its review), a report setting forth such calculation, which
calculation shall result in a net consideration between the amount thereof shown in Ceding Company’s calculation delivered pursuant to Section 5.2(b) and the amount thereof in Reinsurer’s calculation delivered pursuant to
Section 5.2(b). Such report shall be final and binding upon Ceding Company and Reinsurer. The fees, costs and expenses of the Third Party Accountant shall be borne (x) by Ceding Company if the difference between the net consideration as
calculated by the Third Party Accountant and Ceding Company’s calculation is greater than the difference between the net consideration as calculated by the Third Party Accountant and Reinsurer’s calculation; (y) by Reinsurer if the
first such difference is less than the second such difference; and (z) otherwise equally by Ceding Company and Reinsurer. 
  

 13 

 ARTICLE VI 
 CLAIMS 
 Section 6.1 Notice of Claims.
Claim amounts less than or equal to $250,000 (net of amounts recoverable under Third Party Reinsurance) will be reported by the Ceding Company to the Reinsurer on a bordereau basis, and all other Claims shall be reported on an individual basis, in
each case in accordance with Section 8.1. 
 Section 6.2 Settlement Authority. The Ceding Company shall have full
authority to determine liability on any Claim reinsured hereunder and may settle losses as it deems appropriate, but in so doing it shall act with the skill and diligence commonly expected from qualified personnel performing such duties for U.S.
life insurance companies and consistent with the Ceding Company’s Then Current Practice. 
 Section 6.3 Claim
Payments. Following receipt by the Reinsurer of the Monthly Report setting forth the Ceding Company’s payment of any Covered Liabilities reinsured hereunder, the Reinsurer shall make payment of the Reinsurer’s Quota Share of the
Covered Liabilities in accordance with Article VIII. 
 Section 6.4 Misstatement of Age or Sex. In the event of an
increase or reduction in the amount of the Ceding Company’s insurance on any Reinsured Policy because of an overstatement or understatement of age or misstatement of sex, established during the life, or after the death, of the insured, the
Reinsurer will share in such increase or reduction in proportion to the Reinsurer’s Quota Share. 
 ARTICLE VII

 REINSTATEMENTS 
 Section 7.1 Reinstatements. If a Reinsured Policy is reinstated in accordance with its terms and the Ceding Company’s reinstatement rules as in effect on the Effective Date (a
“Reinstatement”), the reinsurance of such Reinsured Policy will be restored as if no change had occurred. In such a case, the Ceding Company shall promptly pay the Reinsurer the Reinsurer’s Quota Share of the Net Premiums
attributable to such Reinstatement. 
 ARTICLE VIII 
 ACCOUNTING AND RESERVES 
 Section 8.1
Monthly Reports. Within twenty (20) Business Days after the end of each calendar month, the Ceding Company shall deliver to the Reinsurer the following monthly reports (each a “Monthly Report”) substantially in the form
set forth in Exhibit III hereto: (i) Monthly Settlement Report; (ii) Policy Exhibit; (iii) Reserve Report; (iv) Claim Reserve Report; (v) Bordereau Report; and (vi) Non-Bordereau Claims Report; it being understood that
the initial Monthly Report shall be for the period from the Effective Date to the last day of the month in which this Agreement is executed. 
  

 14 

 Section 8.2 Monthly Account Balance Reports. No later than ten (10) Business
Days after the end of each calendar month, the Ceding Company shall prepare and deliver to the Reinsurer a report in the form and containing the information set forth in Exhibit IV (each a “Monthly Account Balance Report”).

 Section 8.3 Settlements. 
 (a) All monthly settlements shall be effected as follows: (i) if the Monthly Report shows that the Ceding Company owes the Reinsurer a positive amount, the Ceding Company will pay the amount owed
simultaneously with the delivery to the Reinsurer of the Monthly Report and (ii) if the Monthly Report shows that the Reinsurer owes the Ceding Company a positive amount, the Reinsurer shall pay the amount owed within twenty (20) Business
Days after receiving the Monthly Report, it being understood that, for purposes of this Section 8.3(a), appropriate adjustments shall be made for withdrawals and reimbursements made during the month by the Ceding Company pursuant to Sections
15.5 and 15.6. 
 (b) If the Reserve Report provided to the Reinsurer for the last month of a calendar quarter
shows that the Security Balance is less than the Required Balance as of the end of the immediately preceding calendar quarter, the Ceding Company shall notify the Reinsurer of the amount of the deficiency (the “Top-Up Notice”). The
Top-Up Notice shall be delivered to the Reinsurer at the same time as the copy of the Monthly Report for the same calendar quarter. 
 (c) All settlements of account between the Ceding Company and the Reinsurer shall be made in cash or its equivalent. 
 Section 8.4 Offset and Recoupment. Each Party, at its option, may offset or recoup any balance or balances, whether on account of premiums, Expense Allowances, claims and losses or amounts
otherwise due from one Party to the other under this Agreement or other agreements between the Parties, or as a result of damages awarded to either Party pursuant to litigation or otherwise, which shall be deemed mutual debts or credits, as the case
may be; provided, however, that the Party electing such right with respect to matters not reflected in the Monthly Reports shall notify the other Party in writing of its election to do so. This Section 8.4 shall not be modified or reconstrued
due to the insolvency, liquidation, rehabilitation, conservatorship or receivership of either Party. 
 Section 8.5
Currency. All financial data required to be provided pursuant to the terms of this Agreement shall be expressed in United States dollars. All payments and all settlements of account between the Parties shall be in United States currency
unless otherwise agreed by the Parties. 
  

 15 

 ARTICLE IX 
 EXPENSES IN CONNECTION WITH THE REINSURED POLICIES 
 Section 9.1 Expenses in Connection with the Reinsured Policies. The Ceding Company shall pay for all expenses and charges incurred in connection with the Reinsured Policies including medical examinations, inspection fees, and other
fees. Except as provided in Section 4.2 and Section 4.3, such amounts shall not be reimbursed by the Reinsurer. 
 ARTICLE X 
 ERRORS AND OMISSIONS 
 Section 10.1 Errors and Omissions. Subject to the terms of this Agreement, neither Party hereto shall be prejudiced in any way by
inadvertent errors or omissions made by such Party in connection with this Agreement provided such errors and omissions are corrected promptly following discovery thereof. Upon the discovery of an inadvertent error or omission by either Party
hereto, appropriate adjustments shall be made as soon as practicable to restore the Parties to the fullest extent possible to the position they would have been in had no such inadvertent error or omission occurred. 
 ARTICLE XI 
 RECAPTURE 
 Section 11.1 Recapture. The Ceding Company may in accordance with the provisions of
this Article XI recapture, in its sole discretion, all or a pro rata portion of all of the Reinsurer’s Quota Share of the Reinsured Policies upon the occurrence of one of the following events: 
 (a) If the Reinsurer becomes insolvent or if the Commissioner has instituted a proceeding or entered a decree or order for
the appointment of a rehabilitator or liquidator; 
 (b) If the Reinsurer fails to take steps reasonably
satisfactory to the Ceding Company to assure the Ceding Company of full Statutory Financial Statement Credit for the Reinsured Policies within forty-five (45) calendar days of Reinsurer’s receipt of written notice from the Ceding Company
that the Ceding Company has been advised by any Governmental Authority that the Governmental Authority will deny or has denied Statutory Financial Statement Credit on any financial statement filed by the Ceding Company with such Governmental
Authority; 
  

 16 

 (c) If the Reinsurer is in material breach of any other representation,
warranty or covenant under this Agreement and the Reinsurer fails to cure any such material breach of any representation, warranty or covenant hereunder within sixty (60) calendar days of receipt of written notice of such breach by the
Reinsurer, unless such breach constitutes a Capital Maintenance Failure, in which case the provision in Section 11.1(e) shall apply and this provision shall not apply; 
 (d) If the Reinsurer fails in any material respects to fund the Reinsurance Trust Account to the amount required after
receipt of the Top-Up Notice under Section 15.3(c) within the time period specified therein, and the Reinsurer fails to cure any such funding deficiency within twenty (20) Business Days of receipt of written notice of such funding
deficiency by the Reinsurer; or 
 (e) If there is a Capital Maintenance Failure under the Capital Maintenance
Agreement. For purposes of this Section 11.1(e), a “Capital Maintenance Failure” occurs at the end of any Approval Period when (i) the Reinsurer’s Total Adjusted Capital is less than the Capital Threshold (as such
terms are defined in the Capital Maintenance Agreement) and (ii) the Reinsurer fails to obtain a payment from the Obligor (as defined in the Capital Maintenance Agreement) in the amount of the deficiency within the Approval Period beginning on
the date a demand is made by or on behalf of the Reinsurer for such payment in accordance with Section 2(a) of the Capital Maintenance Agreement (for the avoidance of doubt, including if any such failure is due to the failure on part of the
Obligor to obtain any required prior consents from the Board of Governors of the Federal Reserve System as set forth in the Capital Maintenance Agreement within the Approval Period). The Reinsurer shall reimburse the Ceding Company for actual
reasonable expenses incurred by the Ceding Company pursuant to this Section 11.1(e). 
 Section 11.2 Notice of
Recapture. The Ceding Company shall notify the Reinsurer in writing of the reasons for, and the effective date of, the recapture ninety (90) calendar days prior to the effective date of recapture (the “Recapture Notice”);
provided, however, that the recapture shall not be deemed to be consummated until the final accounting described in Section 11.4 of this Article XI has been completed and the Reinsurer has paid the Commutation Payment, if any. 
 Section 11.3 Recapture Fee. The Ceding Company shall pay a recapture fee (the “Recapture Fee”) to the Reinsurer upon
the occurrence of any recapture of the Reinsured Policies pursuant to Section 11.1(b) if such recapture was triggered by the inability of the Ceding Company to obtain full Statutory Financial Statement Credit for the Reinsured Policies due to
actions taken by the Ceding Company or its Affiliates; provided, however, that if the Reinsurer is in material breach of any representation, warranty or covenant under this Agreement at the time a recapture is triggered under
Section 11.1(b), no Recapture Fee will be due and payable by the Ceding Company. The Recapture Fee shall be equal to an amount to be determined by an actuarial appraisal prepared by a nationally recognized independent actuarial firm in
accordance with methodologies agreed upon by the Ceding Company and Reinsurer to determine the value of the Reinsured Policies at such time in a manner consistent with the valuation of the Reinsured Policies as set forth in the Milliman Report and
consistent with the determination of the Initial Ceding Commission based on such valuation. 
  

 17 

 Section 11.4 Renewal Recapture. The Ceding Company shall also have the right, upon
prior written notice to the Reinsurer, to recapture, in its sole discretion, all or a pro rata portion of End of Term Renewals arising from Policies with an Original Initial Level Premium Period ending on or after January 1, 2017 (the
“Renewal Recapture Right”). No Recapture Fee is payable in connection with the recapture of any End of Term Renewal. 
 Section 11.5 Commutation Accounting and Settlement. In the event of any recapture under this Article XI, the Reinsurer shall pay to the Ceding Company an amount equal to (i) the Reinsurer’s Quota Share of the Statutory
Reserves, Interest Maintenance Reserves (but only to the extent the Ceding Company’s Interest Maintenance Reserves are increased) and advance premiums, if applicable, attributable to the Reinsured Policies being recaptured, calculated as of the
effective date of the recapture set forth in the Recapture Notice; minus (ii) any amounts due to the Reinsurer but unpaid under this Agreement, including the Recapture Fee, if any, and net deferred premiums; plus (iii) any amounts due to
the Ceding Company but unpaid under this Agreement (collectively, the “Commutation Payment”); provided, however, that, if the amount calculated pursuant to clause (ii) of this subsection exceeds the amounts
calculated pursuant to clauses (i), (ii) and (iii) of this subsection, the Ceding Company shall pay to the Reinsurer the amount of such excess. Following recapture and payment to the appropriate Party of the net Commutation Payment
required hereunder, neither Party shall have further liability to the other Party hereunder with respect to the recaptured business. 
 Section 11.6 Limitation on Partial Recaptures. Notwithstanding the provisions of Section 11.1, the Ceding Company shall not be permitted to effect a partial recapture pursuant to Section 11.1 if, after giving effect to the
recapture, the Statutory Reserves would be less than U.S. $100,000,000. 
 ARTICLE XII 
 ACCESS TO BOOKS AND RECORDS 
 Section 12.1 Access to Books and Records. 
 (a) The Ceding
Company shall, upon reasonable notice, provide to the Reinsurer and the counsel, financial advisors, accountants, actuaries and other representatives of the Reinsurer (the “Representatives”) access, at the Reinsurer’s sole cost
and expense, to review, inspect, examine and reproduce the Ceding Company’s books, records, accounts, policies, practices and procedures, including underwriting policy, claims administration guidelines and sales and Conversion practices,
relating to the Reinsured Policies, including any audits and self assessments conducted by the Ceding Company as well as any unaudited information provided to Primerica in connection with Primerica’s public company reporting requirements, at
the place such records are located, and to discuss such matters with the employees, external auditors and external actuaries of the Ceding Company that are knowledgeable about such records, without undue disruption of the normal operations of the
Ceding Company. 
  

 18 

 (b) The Reinsurer and its Representatives shall have the right, at its sole
cost and expense, to conduct audits from time to time, upon reasonable notice to the Ceding Company, of the relevant books, records, accounts, policies, practices and procedures, including underwriting policy, claims administration guidelines and
sales and Conversion practices of the Ceding Company relating to the Reinsured Policies. 
 (c) The Reinsurer
shall reimburse the Ceding Company for any reasonable out-of-pocket costs that the Ceding Company incurs in providing assistance to the Reinsurer and its Representatives in connection with this Section 12.1. 
 (d) The Ceding Company shall use its reasonable best efforts to assist and cooperate with the Reinsurer, and its
Representatives in providing access to the relevant in force files, experience data, books, records and accounts of the Ceding Company relating to the Reinsured Policies. 
 ARTICLE XIII 
 INSOLVENCY 
 Section 13.1 Insolvency. In the event of the insolvency of the Ceding Company, payments due the Ceding Company on all
reinsurance made, ceded, renewed or otherwise becoming effective under this Agreement shall be payable by the Reinsurer on the basis of claims filed and allowed in the liquidation proceeding under the Reinsured Policies without diminution because of
the insolvency of the Ceding Company, either directly to the Ceding Company or to its domiciliary liquidator or receiver, except where the Reinsurer, with the consent of the Policyholder and in conformity with Applicable Law, has assumed the Ceding
Company’s obligations as direct obligations of the Reinsurer to the payees under the Reinsured Policies and in substitution for the obligations of the Ceding Company to the payees. It is understood, however, that in the event of the insolvency
of the Ceding Company, the liquidator or receiver or statutory successor of the Ceding Company shall give written notice to the Reinsurer of any impending Claim against the Ceding Company on a Reinsured Policy within a reasonable period of time
after such Claim is filed in the insolvency proceedings and that during the pendency of such Claim the Reinsurer may, at its own expense, investigate such Claim and interpose, in the proceeding where such Claim is to be adjudicated any defense or
defenses which it may deem available to the Ceding Company or its liquidator or receiver or statutory successor. It is further understood that the expense thus incurred by the Reinsurer shall be chargeable, subject to court approval, against the
Ceding Company as part of the expense of liquidation to the extent of a proportionate share of the benefit which may accrue to the Ceding Company solely as a result of the defense undertaken by the Reinsurer. 
  

 19 

 ARTICLE XIV 
 DISPUTE RESOLUTION 
 Section 14.1 Consent to
Jurisdiction. Each of the parties hereto irrevocably and unconditionally submits to the exclusive jurisdiction of the United States District Court for the District of Massachusetts or, if such court does not have jurisdiction, the appropriate
district court of the Commonwealth of Massachusetts, for the purposes of enforcing this Agreement. The parties shall take such actions as are within their control to cause any disputes as described in the preceding sentence to be assigned to the
complex litigation docket of the applicable court. In any action, suit or other proceeding, each of the parties hereto irrevocably and unconditionally waives and agrees not to assert by way of motion, as a defense or otherwise any claims that it is
not subject to the jurisdiction of the above courts, that such action or suit is brought in an inconvenient forum or that the venue of such action, suit or other proceeding is improper. Each of the parties hereto also agrees that any final and
unappealable judgment against a party hereto in connection with any action, suit or other proceeding as contemplated in this Article XIV shall be conclusive and binding on such party and that such award or judgment may be enforced in any court of
competent jurisdiction, either within or outside of the United States. A certified or exemplified copy of such award or judgment shall be conclusive evidence of the fact and amount of such award or judgment. 
 Section 14.2 Waiver of Jury Trial. Each of the parties hereto irrevocably waives any and all right to trial by jury in any legal
proceeding arising out of or related to this Agreement or the transactions contemplated hereby. 
 Section 14.3 Specific
Performance. The parties recognize and agree that if for any reason any of the provisions of this Agreement are not performed in accordance with their specific terms or are otherwise breached, immediate and irreparable harm or injury would be
caused for which money damages would not be an adequate remedy. Accordingly, each party agrees that, in addition to any other available remedies each other party shall be entitled to an injunction restraining any violation or threatened violation of
any of the provisions of this Agreement without the necessity of posting a bond or other form of security. In the event that any action should be brought in equity to enforce any of the provisions of this Agreement, no party will allege, and each
party hereby waives the defense, that there is an adequate remedy at law. 
 ARTICLE XV 
 REINSURANCE TRUST ACCOUNT 
 Section 15.1 Reinsurance Trust Agreement. On the date hereof, in accordance with the Reinsurance Trust Agreement to be entered into between the Parties, in the form attached hereto as Exhibit V (as
such agreement may be amended from time to time in writing by mutual consent of the Ceding Company, the Reinsurer and the trustee (the “Trustee”) thereunder, the “Reinsurance Trust Agreement”), the Reinsurer, as
grantor, shall create a trust account (the “Reinsurance Trust Account”) naming the Ceding Company as sole beneficiary thereof. The Reinsurance Trust Account shall initially be funded with Trust Assets the Fair Value of which (as of
the date hereof) is at least equal to the Reinsurer’s Quota Share of the Statutory Reserves as of the Effective Date. 
  

 20 

 Section 15.2 Investment and Valuation of Trust Assets. The assets held in the
Reinsurance Trust Account (the “Trust Assets”) shall consist of Eligible Assets. 
 Section 15.3 Adjustment
of Trust Assets and Withdrawals. 
 (a) The amount of assets to be maintained in the Reinsurance Trust
Account shall be adjusted following the end of each calendar quarter in accordance with the Reserve Report for the last calendar month of each calendar quarter provided to the Reinsurer pursuant to the terms of Section 8.1. Such report shall
set forth the amount by which the Security Balance equals or exceeds the Required Balance, in each case as of the end of the immediately preceding calendar quarter. 
 (b) If the Security Balance exceeds 102% of the Required Balance, in each case as of the end of the immediately preceding
calendar quarter, then the Reinsurer shall have the right to seek approval (which shall not be unreasonably or arbitrarily withheld, conditioned or delayed) from the Ceding Company to withdraw the excess. 
 (c) The Reinsurer shall, no later than twenty (20) Business Days following receipt of a Top-Up Notice, place additional
Trust Assets into the Reinsurance Trust Account so that the Security Balance, as of the date such additional Trust Assets are so placed, is no less than the Required Balance as of the end of the immediately preceding calendar quarter. 
 (d) Without limitation of the other provisions of this Section 15.3, subject to obtaining the Ceding Company’s
prior consent (which shall not be unreasonably or arbitrarily withheld, conditioned or delayed), the Reinsurer may remove assets from the Reinsurance Trust Account; provided, however, that the Reinsurer, at the time of such withdrawal,
replaces the withdrawn assets with Trust Assets permitted under the terms of the Reinsurance Trust Agreement and having a Fair Value equal to or greater than the Fair Value of the assets withdrawn so that the Security Balance, as of the date of such
withdrawal, is no less than the Required Balance as of the end of the immediately preceding calendar quarter. 
 Section 15.4
Negotiability of Trust Assets. Prior to depositing Trust Assets with the Trustee, the Reinsurer shall execute all assignments or endorsements in blank, or transfer legal title to the Trustee of all shares, obligations or any other assets
requiring assignments, in order that the Ceding Company, or the Trustee upon direction of the Ceding Company, may whenever necessary negotiate any such assets without consent or signature from the Reinsurer or any other entity. 
  

 21 

 Section 15.5 Ceding Company’s Withdrawals. The Ceding Company (or any successor
by operation of law of the Ceding Company, including, but not limited to, any liquidator, rehabilitator, receiver or conservator of the Ceding Company) may only withdraw Trust Assets for one or more of the following purposes, without diminution
because of insolvency on the part of the Ceding Company or the Reinsurer: 
 (a) to pay, or reimburse the Ceding
Company for payment of, the Reinsurer’s Quota Share of premiums to be returned, but not yet recovered from the Reinsurer, to Policyholders because of cancellations of Reinsured Policies; 
 (b) to pay, or reimburse the Ceding Company for payment of, the Reinsurer’s Quota Share of Covered Liabilities payable
pursuant to the provisions of the Reinsured Policies, but not yet recovered from the Reinsurer; 
 (c) to pay to
the Ceding Company any Commutation Payment due the Ceding Company but not yet paid by the Reinsurer; 
 (d) in
the event that the Ceding Company has received notification from the Reinsurer or Trustee of termination of the Reinsurance Trust Account and where the Reinsurer’s Quota Share of obligations under this Agreement remain unliquidated and
undischarged ten (10) days prior to the scheduled termination date, the Ceding Company may withdraw all the assets in the Reinsurance Trust Account and deposit such amounts, in the name of the Ceding Company, in any United States bank or trust
accompany, apart from its general assets, in trust for such uses and purposes specified in (a) and (b) above as may remain executory after such withdrawal and for any period after such termination date; or 
 (e) to pay to the Reinsurer amounts held in the Reinsurance Trust Account in excess of the amount necessary to secure the
credit or reduction from liability for reinsurance taken by the Ceding Company. 
 Any assets deposited into an account of the Ceding Company
pursuant to clause (d) of this Section 15.5 or withdrawn by the Ceding Company pursuant to clause (e) of this Section 15.5 and any interest or other earnings thereon shall be held by the Ceding Company in trust and separate and
apart from any assets of the Ceding Company, for the sole purpose of funding the payments and reimbursements described in clauses (a) through (e), inclusive, of this Section 15.5. 
 Section 15.6 Return of Excess Withdrawals. The Ceding Company shall return to the Reinsurer, within five (5) Business Days,
assets withdrawn in excess of all amounts due under Sections 15.5(a), (b) and (e), or, in the case of Section 15.5(d) above, assets that are subsequently determined not to be due. Any assets subsequently returned in the case of
Section 15.5(d) shall include interest at the Prime Rate applied on a daily basis for the amounts returned. 
 Section 15.7
Costs of Trust. The cost of maintaining the Reinsurance Trust Account shall be borne by the Reinsurer. 
  

 22 

 ARTICLE XVI 
 THIRD PARTY BENEFICIARY 
 Section 16.1 Third
Party Beneficiary. Nothing in this Agreement or the Reinsurance Trust Agreement is intended to give any person, other than the parties to such agreements, their successors and permitted assigns, any legal or equitable right remedy or claim under
or in respect of this Agreement or the Reinsurance Trust Agreement or any provision contained therein. 
 ARTICLE XVII 

 REPRESENTATIONS, WARRANTIES AND COVENANTS 
 Section 17.1 Representations and Warranties of the Ceding Company. 
 (a) Organization, Standing and Authority of the Ceding Company. The Ceding Company is a life insurance company duly
organized, validly existing and in good standing under the laws of the Commonwealth of Massachusetts, and has all requisite corporate power and authority to carry on the operations of its business as they are now being conducted. The Ceding Company
has obtained all authorizations and approvals required under Applicable Law to enter into and perform the obligations contemplated of the Ceding Company under this Agreement. 
 (b) Authorization. The Ceding Company has all requisite corporate power and authority to enter into this Agreement and
to perform its obligations hereunder. The execution and delivery by the Ceding Company of this Agreement, and the performance by the Ceding Company of its obligations under this Agreement, have been duly authorized by all necessary corporate action
and do not require any further authorization, action or consent of the Ceding Company. This Agreement, when duly executed and delivered by the Ceding Company, subject to the due execution and delivery by the Reinsurer, will be a valid and binding
obligation of the Ceding Company, enforceable against the Ceding Company in accordance with its terms, in each case subject to bankruptcy, insolvency, reorganization, moratorium and similar laws of general application relating to or affecting
enforcement of creditors’ rights and to general equity principles. 
 (c) No Conflict or Violation.
Except as set forth in Schedule B, the execution, delivery and performance of this Agreement and the consummation of the transactions contemplated hereby in accordance with the respective terms and conditions hereof will not (a) violate any
provision of the Articles of Incorporation or Bylaws of the Ceding Company, (b) violate, conflict with or result in the breach of any of the terms of, result in any modification of, give any counterparty the right to terminate, or constitute a
default under, any contract or other agreement to which the Ceding Company is a party, or (c) violate any order, judgment, injunction, award or decree of any court, arbitrator or Governmental Authority against, or binding upon, or any agreement
with, or condition imposed by, any Governmental Authority, foreign or domestic, binding upon the Ceding Company. 
  

 23 

 (d) Absence of Litigation. There is no action, suit, proceeding or
investigation pending or threatened that questions the legality of the transactions contemplated by this Agreement or that would prevent consummation of the transactions contemplated by this Agreement or the performance by the Ceding Company of its
obligations hereunder. 
 (e) Milliman Information True and Complete. 
 (i) To the best of the Ceding Company’s knowledge, all information and data supplied to Milliman Inc.
(“Milliman”) identified on Exhibit VI-A hereto (the “Milliman Information”) was true, accurate and complete in all material respects as of the date the document containing such Milliman Information was provided to
Milliman by the Ceding Company; provided, however, the Parties acknowledge that no representation or warranty has been made to the Reinsurer or any of its Affiliates or Representatives with respect to the truth, accuracy and
completeness of any assumptions, projections, or estimates either provided by the Ceding Company or underlying any of the studies prepared by the Ceding Company in connection with the Milliman Information except that the Ceding Company represents
and warrants that such assumptions, projections or estimates were the ones actually utilized by the Ceding Company for the purposes stated in Exhibit VI. The Milliman Information was complied in a commercially reasonable manner given the intended
purpose. 
 (ii) The financial data supplied to Milliman identified on Exhibit VI-B hereto presents fairly, in
all material respects, the financial condition and results of operations of the Ceding Company as of and for the periods specified therein in accordance with Massachusetts SAP, consistently applied. 
 (f) Coverage Information. The Reinsured Policies information identified in Exhibit I is true, accurate and complete in
all material respects. 
 (g) Good and Marketable Title to Eligible Assets. The Ceding Company will have
good and marketable title, free and clear of all liens, to all Eligible Assets immediately prior to the payment thereof to the Reinsurer in accordance with Section 4.1. 
  

 24 

 Section 17.2 Covenants of the Ceding Company. 
 (a) Administration and Claims Practices. 
 (i) In the administration and claims practices relating to the Reinsured Policies (the “Administrative
Practices”), the Ceding Company shall (A) use the skill and diligence commonly expected from qualified personnel performing such duties for U.S. life insurance companies; (B) act in accordance with the Ceding Company’s
internal company guidelines as in effect on the Effective Date; (C) be in conformance with Applicable Law in all material respects; and (D) act in a manner consistent with its existing administrative and claims practices in effect on the
Effective Date and in any case with no less skill, diligence and expertise as the Ceding Company applies to servicing its other business, including those claims practices in existence for Third Party Reinsurance (each, an “Existing
Practice”); notwithstanding the foregoing, the Ceding Company shall not be in breach of this Section 17.2(a)(i) unless either (Y) the Reinsurer shall have notified the Ceding Company in writing of the Ceding Company’s failure
to perform its obligations under this Section 17.1(a)(i) (which written notice shall describe such failure with reasonable particularity) or (Z) an officer of the Ceding Company with direct responsibility for its administrative services,
or any senior officer of the Ceding Company, has actual knowledge that the Ceding Company has failed to perform its obligations under this Section 17.1(a)(i), and in either case the Ceding Company shall have failed to cure such breach within
thirty (30) days following receipt of such notice or such actual knowledge. 
 (ii) An Existing Practice may
be reasonably modified from time to time, except that, to the extent the Ceding Company modifies an Existing Practice from time to time following the Effective Date (an Existing Practice, as modified from time to time, a “Then Current
Practice”), the Ceding Company shall act in accordance and consistent with the Then Current Practice; provided, that, if a Then Current Practice would materially adversely affect the rights, remedies and position of the
Reinsurer, the Ceding Company shall obtain the consent of the Reinsurer (which consent shall not be unreasonably withheld or delayed) prior to applying the Then Current Practice to the Reinsured Policies. 
 (b) Reinsured Policies. In all instances as they relate to the Reinsured Policies: 
 (i) The Ceding Company shall not, and shall cause its Affiliates not to (A) change agent commission and compensation
schedules, (B) adopt or implement any program that is expected to result in a material increase in lapses, exchanges, replacements or Conversions under the Reinsured Policies or

  

 25 

 
(C) change coverage options or premiums (except as contemplated by Section 17.2(g) hereof), including coverage options for End of Term Conversions, in each case under (A), (B) and
(C) without notifying the Reinsurer in advance of any such action and obtaining the Reinsurer’s prior written consent (which shall not be unreasonably withheld or delayed). 
 (ii) The Ceding Company and the Reinsurer shall reasonably cooperate on any proposals for pricing or coverage changes
proposed by either Party, including making any rate and form filings or other regulatory filings that impact pricing or premiums under the Reinsured Policies; provided, however, the Ceding Company shall have final approval authority in
its discretion over any proposal brought by the Reinsurer pursuant to this Section 17.2(b)(ii). 
 (iii) The
Ceding Company shall notify the Reinsurer of any information known to the Ceding Company, including any third party or regulatory actions and management decisions reasonably anticipated to adversely and materially impact the economics of the
Reinsured Policies for the Reinsurer. Such notification shall be made within [twenty (20)] Business Days after the information becomes known to the Ceding Company. 
 (iv) The Parties agree and acknowledge that the Ceding Company’s relationship with the Reinsurer shall in all respects
be governed by a duty of utmost good faith. At all times during the term of this Agreement, the Ceding Company shall (i) administer, manage and oversee the Reinsured Policies and the Covered Liabilities, and (ii) perform all its
obligations to the Reinsurer under this Agreement, in a manner consistent with its utmost good faith obligations. 
 (c) Third Party Reinsurance. 
 (i) The Ceding Company shall not, without the Reinsurer’s
prior approval (which approval shall not be unreasonably or arbitrarily withheld, conditioned or delayed), (A) terminate or materially modify any existing Third Party Reinsurance or (B) purchase new third party reinsurance for the
Reinsured Policies. 
 (ii) The Ceding Company shall use commercially reasonable efforts to maintain its existing
Third Party Reinsurance from and after the Effective Date, consistent with the existing practice of the Ceding Company in effect on the Effective Date. 
  

 26 

 (d) Reporting. To the extent not prohibited by Applicable Law, the
Ceding Company will provide all reports it is required to deliver under this Agreement (including, without limitation, each Monthly Report and Quarterly Report) not later than the last date on which such report is required to be so delivered, except
that the Ceding Company shall not be in breach of this Section 17.2(d) unless either (i) the Reinsurer shall have notified the Ceding Company in writing of its failure to timely deliver such report or (ii) a officer of the Ceding
Company with direct responsibility for the preparation and delivery of such report has actual knowledge that the report was not delivered when due, and in either case the Ceding Company shall have failed to deliver such information within thirty
(30) days following receipt of such notice or actual knowledge. 
 (e) Policy Data. Within six
(6) months of the date hereof, the Ceding Company shall provide to the Reinsurer a schedule containing a list of Policies with Original Initial Level Premium Periods ending on or after January 1, 2017. 
 (f) Books and Records. The Ceding Company shall maintain and implement reasonable administrative and operating
procedures with respect to records relating to the Reinsured Policies and shall keep and maintain all material documents, books, records and other information reasonably necessary for the maintenance of the Reinsured Policies, which documents,
books, records and other information will be accurately maintained in all material respects throughout the term of this Agreement. 
 (g) Regulatory Filings. The Ceding Company has filed the appropriate regulatory filings to increase guaranteed premium provisions in Policies or coverages that may be issued upon the
occurrence of a Conversion with each applicable state insurance regulator prior to the Effective Date. To the extent regulatory approval has not been obtained by the Effective Date, the Ceding Company shall use its reasonable best efforts to obtain
regulatory approval for each filing as practicable. If regulatory approval is initially not granted by any state insurance regulator, the Ceding Company shall agree to work in consultation with the Reinsurer to determine the approach to future
regulatory filings to increase guaranteed premium provisions. The Ceding Company shall notify its agents of such increases within thirty (30) days after the date hereof and shall thereafter implement such increases in the ordinary course of
business, consistent with past practices. 
 Section 17.3 Representations and Warranties of the Reinsurer. 
 (a) Organization, Standing and Authority of the Reinsurer. The Reinsurer is a special purpose financial captive
insurance company duly organized, validly existing and in good standing under the laws of the State of Vermont and has all requisite corporate power and authority to carry on the operations of its business as they are proposed to be conducted. The
Reinsurer has obtained all authorizations and approvals required under Applicable Law to enter into and perform the obligations contemplated of the Reinsurer under this Agreement and the Reinsurer shall maintain throughout the term of this Agreement
all licenses, permits or other permissions of any Governmental Authority that shall be required in order to perform the obligations of the Reinsurer hereunder. 
  

 27 

 (b) Authorization. The Reinsurer has all requisite corporate power
and authority to enter into this Agreement and to perform its obligations hereunder. The execution and delivery by the Reinsurer of this Agreement, and the performance by the Reinsurer of its obligations under this Agreement, have been duly
authorized by all necessary corporate action and do not require any further authorization, action or consent of the Reinsurer or its stockholder. This Agreement, when duly executed and delivered by the Reinsurer, subject to the due execution and
delivery by the Ceding Company, will be a valid and binding obligation of the Reinsurer, enforceable against the Reinsurer in accordance with its terms, in each case subject to bankruptcy, insolvency, reorganization, moratorium and similar laws of
general application relating to or affecting enforcement of creditors’ rights and to general equity principles. 
 (c) No Conflict or Violation. The execution, delivery and performance of this Agreement and the consummation of the transactions contemplated hereby will not (a) violate any provision of the Articles of Incorporation, Bylaws or
other charter or organizational document of the Reinsurer, or (b) violate any order, judgment, injunction, award or decree of any court, arbitrator or Governmental Authority against, or binding upon, or any agreement with, or condition imposed
by, any Governmental Authority, foreign or domestic, binding upon the Reinsurer, except when any such violation would not have a material adverse effect on this Agreement or the consummation of the transactions contemplated hereby. 
 (d) Absence of Litigation. There is no action, suit, proceeding or investigation pending or threatened that questions
the legality of the transactions contemplated by this Agreement or that would prevent consummation of the transactions contemplated by this Agreement or the performance by the Reinsurer of its obligations hereunder. 
 (e) Good and Marketable Title to Trust Assets. The Reinsurer will have good and marketable title, free and clear of
all liens, to all Trust Assets immediately prior to the deposit thereof in the Trust Account. 
 Section 17.4 Covenants of
the Reinsurer. 
 (a) The Reinsurer shall comply with all covenants relating to this Agreement, the
Reinsurance Trust Agreement and the Reinsured Policies that are memorialized in Section IV.C. “Other Agreements” in the Reinsurer’s plan of operation as filed with the Commissioner prior to the date hereof. 
 (b) The Reinsurer shall not engage in any business, other than the business provided by or relating to this Agreement or the
10% Coinsurance Agreement. Other than the reinsurance provided hereunder and in the 10% Coinsurance Agreement, the Reinsurer shall not issue or reinsure any insurance policies. 
  

 28 

 ARTICLE XVIII 
 INDEMNIFICATION 
 Section 18.1
Indemnification. 
 (a) The Ceding Company shall indemnify, defend and hold harmless the Reinsurer and its
directors, officers, employees, agents, representatives, successors, permitted assigns and Affiliates from and against any and all losses, liabilities, claims, expenses (including reasonable attorneys’ fees and expenses) and damages reasonably
and actually incurred by the Reinsurer (collectively, “Indemnification Claims”) to the extent arising from: 
 (i) any breach or falsity of any representation, warranty or covenant of the Ceding Company; or 
 (ii) the breach of or failure to perform any of the duties, obligations, covenants or agreements of the Ceding Company contained in this Agreement. 
 (b) The Reinsurer agrees to indemnify and hold harmless the Ceding Company and its directors, officers, employees, agents,
representatives, successors, permitted assigns and Affiliates from and against any and all Indemnification Claims to the extent arising from: 
 (i) any breach or falsity of any representation, warranty or covenant of the Reinsurer; or 
 (ii) the breach of or failure to perform any of the duties, obligations, covenants or agreements of the Reinsurer contained in this Agreement. 
  

 29 

 ARTICLE XIX 
 LICENSES; REGULATORY MATTERS 
 Section 19.1
Licenses. 
 (a) At all times during the term of this Agreement, each of the Reinsurer and the Ceding
Company, respectively agrees that it shall hold and maintain all licenses and authorities required under Applicable Laws to perform its respective obligations hereunder unless otherwise mutually agreed by the parties. 
 (b) At all times during the term of this Agreement, the Reinsurer shall hold and maintain all licenses and authorizations
required under Applicable Law or otherwise to take all action that may be necessary so that the Ceding Company shall receive Statutory Financial Statement Credit. 
 Section 19.2 Regulatory Matters. 
 (a) If Ceding Company or
Reinsurer receives notice of, or otherwise becomes aware of any inquiry, investigation, examination, audit or proceeding outside the ordinary course of business by Governmental Authorities, relating to the Reinsured Policies or the reinsurance
provided hereunder, the Ceding Company or Reinsurer, as applicable, shall promptly notify the other party thereof. 
 (b) If Ceding Company or Reinsurer receives notice of, or otherwise becomes aware of any enforcement action by any Governmental Authority arising out of any inquiry, investigation, examination, audit or proceeding by such Governmental
Authority, the Ceding Company or Reinsurer, as applicable, shall promptly notify the other party thereof, and the Parties shall cooperate to resolve such matter. 
 ARTICLE XX 
 DURATION OF AGREEMENT; TERMINATION 
 Section 20.1 Duration. This Agreement shall automatically terminate if, at such time, there are no Covered Liabilities. 

Section 20.2 Termination. This Agreement shall be terminated only by the mutual written consent of the Reinsurer and the Ceding
Company, which writing shall state the effective date and relevant terms of termination. For the avoidance of doubt, a Change of Control, sale or merger of the Reinsurer will not result in termination of this Agreement. 
  

 30 

 Section 20.3 Survival. Notwithstanding the other provisions of this Article XX, the
terms and conditions of Articles I, IV, V, VIII, X, XI, XII, XIV, XV, XVI, XX and XXI shall remain in full force and effect after termination of this Agreement. 
 ARTICLE XXI 
 MISCELLANEOUS 
 Section 21.1 Entire Agreement. This Agreement represents the entire agreement between the Reinsurer and the Ceding Company concerning
the business reinsured hereunder. There are no understandings between the Reinsurer and the Ceding Company other than as expressed in this Agreement and the Reinsurance Trust Agreement. 
 Section 21.2 Amendments. 
 (a) Any provision of this Agreement may be amended if, but only if, such amendment is in writing and is signed by each party to this Agreement. Any change or modification to this Agreement shall be null
and void unless made by an amendment hereto signed by each party to this Agreement. 
 (b) No failure or delay by
any party in exercising any right, power or privilege hereunder shall operate as a waiver thereof nor shall any single or partial exercise thereof preclude any other or further exercise thereof or the exercise of any other right, power or privilege.
The rights and remedies herein provided shall be cumulative and not exclusive of any rights or remedies provided by law. 
 Section 21.3 Severability. If any provision of this Agreement is held to be illegal, invalid or unenforceable under any present or future law or if determined by a court of competent jurisdiction to be unenforceable, and if the
rights or obligations of the Ceding Company or the Reinsurer under this Agreement will not be materially and adversely affected thereby, such provision shall be fully severable, and this Agreement will be construed and enforced as if such illegal,
invalid or unenforceable provision had never comprised a part of this Agreement, and the remaining provisions of this Agreement shall remain in full force and effect and will not be affected by the illegal, invalid or unenforceable provision or by
its severance herefrom. 
 Section 21.4 Governing Law. This Agreement shall be governed by and construed in accordance
with the laws of the Commonwealth of Massachusetts, without giving effect to the principles of conflicts of law thereof. 
 Section 21.5 Notices. Any notice and other communication required or permitted hereunder shall be in writing and shall be delivered personally or sent by certified, registered or express mail, postage prepaid. Any such notice shall
be deemed given when so delivered personally or, if mailed, on the date shown on the receipt therefore, as follows: 
 if to the
Ceding Company: 
 Primerica Life Insurance Company 
 3120 Breckinridge Blvd. 
 Duluth, Georgia 30099 
 Attention: General Counsel 
  

 31 

 with copies to (which shall not constitute notice to the Ceding Company for purposes of this
Section 21.5): 
 Donald B. Henderson, Jr., Esq. 
 Dewey & LeBoeuf LLP 
 1301 Avenue of the Americas 
 New York, NY 10019 
 (212) 259-8000 
 if
to the Reinsurer: 
 Prime Reinsurance Company, Inc. 
 c/o Marsh Management Services Inc. 
 100 Bank Street, Suite 600, 
 Burlington, Vermont 05402 
 with copies to (which shall not constitute notice to the Reinsurer for purposes of this Section 21.5): 
 Robert Sullivan, Esq. 
 Susan Sutherland, Esq. 
 Skadden, Arps, Slate, Meagher & Flom LLP 
 Four Times Square 
 New York, New York 10036 
 (212) 735-3000 
 Either Party may change the names or addresses where notice is to be given by providing notice to the other Party of such change in accordance with this Section 21.5. 
 Section 21.6 Consent to Jurisdiction. Subject to the terms and conditions of Article XIV, the Reinsurer agrees that in the event of
the failure of either Party to perform its obligations under the terms of this Agreement, the Party so failing to perform, at the request of the other Party, shall submit to the jurisdiction of any court of competent jurisdiction in any state of the
United States shall comply with all requirements necessary to give such court jurisdiction, and shall abide by the final decision of such court or of any appellate court in the event of an appeal. 
 Section 21.7 Service of Process. The Reinsurer hereby designates Primmer Piper Eggleston & Cramer PC, 150 South Champlain
Street, P.O. Box 1489, Burlington, VT 05402-1489 (“Primmer Piper”) as its true and lawful attorney upon whom may be served any lawful process in any action, suit or proceeding instituted by or on behalf of the Ceding Company. The
Ceding Company hereby designates Primmer Piper as its true and lawful attorney upon whom may be served any lawful process in any action, suit or proceeding instituted by or on behalf of the Reinsurer. 
  

 32 

 Section 21.8 Assignment and Retrocession. This Agreement will inure to the benefit of
and be binding upon the respective successors and permitted assigns of the Parties. Neither Party may assign any of its duties or obligations hereunder without the prior written consent of the other Party. Notwithstanding any other provision in this
Agreement to the contrary, the Reinsurer shall have the right to retrocede all or a portion of the Reinsured Policies under this Agreement. 
 Section 21.9 Captions. The captions contained in this Agreement are for reference only and are not part of the Agreement. 
 Section 21.10 Treatment of Confidential Information. The Parties agree that, other than as contemplated by this Agreement and to the
extent permitted or required to implement the transactions contemplated hereby, the Parties will keep confidential and will not use or disclose the other Party’s Confidential Information or the terms and conditions of this Agreement, including,
without limitation, the exhibits and schedules hereto, except as otherwise required by Applicable Law or any order or ruling of any state insurance regulatory authority, the Securities and Exchange Commission or any other Governmental Authority;
provided, however, that the Reinsurer may disclose Confidential Information to its Representatives in connection with the exercise of its rights under Article XII; provided, further, that either party may disclose, with
the other party’s written consent, Confidential Information to any person other than its Representatives who agrees to (i) hold such Confidential Information in strict confidence as if such person were a party to this Agreement and
(ii) use such Confidential Information solely for the limited purpose of evaluating a potential purchase, merger or Change of Control of such Party. Without limiting the generality of the foregoing, neither the Reinsurer nor any Affiliates of
the Reinsurer shall utilize any Confidential Information regarding Policyholders for the purpose of soliciting Policyholders for the sale of any insurance policies or other products or services. The parties agree that any violation or threatened
violation of this Section 21.10 may cause irreparable injury to a party and that, in addition to any other remedies that may be available, each party shall be entitled to seek injunctive relief against the threatened breach of the provisions of
this Section 21.10, or a continuation of any such breach by the other party or any person provided with Confidential Information, specific performance and other such relief to redress such breach together with damages and reasonable counsel
fees and expenses to enforce its rights hereunder. For purposes of this Agreement, “Confidential Information” means all documents and information concerning one Party, any of its Affiliates, the Covered Liabilities or the Reinsured
Policies, including any information relating to any person insured directly or indirectly under the Reinsured Policies, furnished to the other Party or such other Party’s Affiliates or representatives in connection with this Agreement or the
transactions contemplated hereby, except that Confidential Information shall not include information which: (a) at the time of disclosure or thereafter is generally available to and known by the public other than by way of a wrongful disclosure
by a Party or by any representative of a Party; (b) was available on a nonconfidential basis from a source other than the Parties or their representatives, provided that such source is not and was not bound by a confidentiality agreement with a
Party; or (c) was independently developed without violating any obligations under this Agreement and without the 
  

 33 

 
use of any Confidential Information. For the purposes of this Agreement, “Change of Control” means the acquisition of ten percent (10%) or more of the voting securities of a
Party or any parent of such Party, or any other acquisition that is deemed to be a Change of Control by applicable insurance regulatory authorities of the state of domicile of such Party. 
 Section 21.11 No Waiver; Preservation of Remedies. No consent or waiver, express or implied, by any Party to or of any breach or
default by any other Party in the performance by such other Party of its obligations hereunder shall be deemed or construed to be a consent or waiver to or of any other breach or default in the performance of obligations hereunder by such other
Party hereunder. Failure on the part of any Party to complain of any act or failure to act of any other Party or to declare any other Party in default, irrespective of how long such failure continues, shall not constitute a waiver by such first
Party of any of its rights hereunder. 
 Section 21.12 Calendar Days. To the extent that any calendar day on which a
deliverable pursuant to this Agreement is due is not a Business Day, such deliverable will be due the next Business Day. 
 Section 21.13 Counterparts. This Agreement may be executed in one or more counterparts, all of which taken together shall constitute one and the same instrument, and either of the Parties may execute this Agreement by signing such
counterpart. This Agreement shall become effective when each party hereto shall have received a counterpart hereof signed by the other party hereto. 
 Section 21.14 Incontestability. In consideration of the mutual covenants and agreements contained herein, each party hereto does hereby agree that this Agreement, and each and every provision
hereof, is and shall be enforceable by and between them according to its terms, and each party does hereby agree that it shall not contest the validity or enforceability hereof. 
 Section 21.15 Interpretation. 
 (a) When a reference is made in this Agreement to a Section, such reference shall be to a Section to this Agreement unless otherwise indicated. The Section headings contained in this Agreement are solely
for the purpose of reference, are not part of the agreement of the parties and shall not affect in any way the meaning or interpretation of this Agreement. Whenever the words “include,” “includes” or “including” are
used in this Agreement, they shall be deemed to be followed by the words “without limitation.” The words “hereof”, “herein” and “hereunder” and words of similar import when used in this Agreement shall refer
to this Agreement as a whole and not to any particular provision of this Agreement. The definitions contained in this Agreement are applicable to the singular as well as the plural forms of such terms and to the masculine as well as to the feminine
and neuter genders of such term. Any agreement, instrument or statute defined or referred to herein or in any agreement or instrument that is referred to herein means such agreement, instrument or statute as from time to time amended, modified or
supplemented, including (in the case of agreements or instruments) by waiver or consent and (in the case of statutes) by succession of comparable successor statutes. References to a person are also to its permitted successors and assigns.

  

 34 

 (b) The parties have participated jointly in the negotiation and drafting of
this Agreement; consequently, in the event an ambiguity or question of intent or interpretation arises, this Agreement shall be construed as if drafted jointly by the parties thereto, and no presumption or burden of proof shall arise favoring or
disfavoring any party by virtue of the authorship of any provisions of this Agreement. 
 Section 21.16 Reasonableness.
Each of the parties will act reasonably and in good faith on all matters within the terms of this Agreement. 
  

 35 

 IN WITNESS WHEREOF, the Parties have caused this Agreement to be executed this
             day of [                    ], 2010. 
  

			
	Primerica Life Insurance Company
		
	By:	 	 
		 	Name:
		 	Title:
		
	Date:	 	
	
	Prime Reinsurance Company, Inc.
		
	By:	 	 
		 	Name:
		 	Title:
		
	Date:

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00169-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00169-of-00352.parquet"}]]