Document:

<PAGE>

                                THIRD AMENDMENT

     THIRD AMENDMENT (this "Amendment"), dated as of March 10, 2000, among
ELGAR HOLDINGS, INC. ("Holdings"), ELGAR ELECTRONICS CORPORATION (the
"Borrower"), the lenders party to the Credit Agreement referred to below (the
"Banks"), and BANKERS TRUST COMPANY, as Agent (the "Agent"). All capitalized
terms used herein and not otherwise defined herein shall have the respective
meanings provided such terms in the Credit Agreement referred to below.

                             W I T N E S S E T H

     WHEREAS, Holdings, the Borrower, the Banks and the Agent are parties to
a Credit Agreement, dated as of February 3, 1998 and amended and restated as
of May 29, 1998 (as amended, modified or supplemented to, but not including,
the date hereof, the "Credit Agreement");

     WHEREAS, the parties hereto wish to amend certain provisions of the
Credit Agreement as herein provided; and

     WHEREAS, subject to the terms and conditions of this Amendment, the
parties hereto agree as follows;

     NOW, THEREFORE, it is agreed:

     1.   Section 9.07 of the Credit Agreement is hereby amended by deleting
the table appearing therein in its entirety and inserting the following new
table in lieu thereof:

       "Fiscal Quarter
       Ending Closest To                             Ratio
       _________________                             _____

       March 31, 2000                                0.77:1.00
       June 30, 2000                                 0.78:1:00
       September 30, 2000                            0.86:1:00
       December 31, 2000                             0.94:1:00
       March 31, 2001                                1.40:1.00
       June 30, 2001                                 1.50:1.00
       September 30, 2001                            1.60:1.00
       December 31, 2001                             1.70:1.00
       March 31, 2002
       and the last day of each
       fiscal quarter thereafter                     1:75:1.00"

       2.    Section 9.09 of the Credit Agreement is hereby amended by
deleting the table appearing therein in its entirety and inserting the
following new table in lieu thereof:

<PAGE>

       "Fiscal Quarter
       Ending Closest To                             Amount
       _________________                             ______

       December 31, 1999                             $2,210,000
       March 31, 2000                                $8,500,000
       June 30, 2000                                 $9,000,000
       September 30, 2000                            $9,800,000
       December 31, 2000                             $10,500,000
       March 31, 2001                                $15,095,000
       June 30, 2001                                 $15,250,000
       September 30, 2001                            $15,500,000
       December 31, 2001                             $16,000,000
       March 31, 2002                                $16,500,000
       June 30, 2002                                 $17,000,000
       September 30, 2002                            $17,250,000
       December 31, 2002                             $17,500,000".

       3.    Section 11.01 of the Credit Agreement is hereby amended by
deleting the date "March 31, 2000" appearing in the definition of "Test
Period" and inserting in lieu thereof the date "December 31, 1999".

       4.    This Amendment shall become effective on the date (the "Third
Amendment Effective Date") when each of Holdings, the Borrower and the
Required Banks shall have signed a counterpart herof (whether the same or
different counterparts) and shall have delivered (including by way of
facsimile transmission) the same to the Agent at the Notice Office.

       5.    In order to induce the Banks to enter into this Amendment, each
of Holdings and the Borrower hereby represents and warrants that no Default
or Event of Default exists on the Third Amendment Effective Date, both before
and after giving effect to this Amendment.

       6.    This Amendment may be executed in any number of counterparts and
by the different parties hereto on separate counterparts, each of which
counterparts when executed and delivered shall be an original, but all of
which shall together constitute one and the same instrument. A complete set
of counterparts shall be delivered to the Borrower and the Agent.

       7.    THIS AMENDMENT AND THE RIGHTS AND OBLIGATIONS OF THE PARTIES
HEREUNDER SHALL BE CONSTRUED IN ACCORDANCE WITH AND GOVERNED BY THE LAW OF
THE STATE OF NEW YORK.

       8.    From and after the Third Amendment Effective Date, all references
in the Credit Agreement and each of the other Credit Documents to the Credit
Agreement shall be deemed to be references to the Credit Agreement as
modified hereby.

                                     -2-

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       9.    This Amendment is limited as specified and shall not constitute
a modification, acceptance or waiver of any other provision of the Credit
Agreement or any other Credit Document.

                                    *  *  *

                                     -3-

<PAGE>

       IN WITNESS WHEREOF, each of the parties hereto has caused a
counterpart of this Amendment to be duly executed and delivered as of the
date first above written.

                                           ELGAR HOLDINGS, INC,

                                           By: /s/ Kenneth R. Kilpatrick
                                              -----------------------------
                                              Name:  Kenneth R. Kilpatrick
                                              Title: President & CEO

                                           ELGAR ELECTRONICS CORPORATION

                                           By: /s/ Kenneth R. Kilpatrick
                                              -----------------------------
                                              Name:  Kenneth R. Kilpatrick
                                              Title: President & CEO

                                           BANKERS TRUST COMPANY,
                                             Individually and as Agent

                                           By:
                                              ------------------------------
                                              Name:
                                              Title:

<PAGE>

       IN WITNESS WHEREOF, each of the parties hereto has caused a
counterpart of this Amendment to be duly executed and delivered as of the
date first above written.

                                           ELGAR HOLDINGS, INC,

                                           By:
                                              -----------------------------
                                              Name:
                                              Title:

                                           ELGAR ELECTRONICS CORPORATION

                                           By:
                                              -----------------------------
                                              Name:
                                              Title:

                                           BANKERS TRUST COMPANY,
                                             Individually and as Agent

                                           By: /s/ Gina S. Thompson
                                              ------------------------------
                                              Name:
                                              Title: Director<PAGE>

                                                                  Exhibit 10(a)

                        INDEPENDENT AUDITORS' CONSENT

We consent to the use in this Post-Effective Amendment No. 4 to the
Registration Statement (Reg. No. 333-05037) on Form N-4 of Sun Life (N.Y.)
Variable Account C of our report dated February 10, 2000 accompanying the
financial statements of Sun Life (N.Y.) Variable Account C appearing in the
Statement of Additional Information, which is part of such Registration
Statement, of our report dated February 10, 2000 accompanying the statutory
financial statements of Sun Life Insurance and Annuity Company of New York,
which includes explanatory paragraphs relating to the use of statutory
accounting practices which differ from generally accepted accounting
principles, appearing in the Prospectus, which is a part of such Registration
Statement, and to the incorporation by reference of our report dated February
10, 2000 appearing in the Annual Report on Form 10-K of Sun Life Insurance
and Annuity Company of New York for the year ended December 31, 1999, which
includes explanatory paragraphs relating to the use of statutory accounting
practices which differ from generally accepted accounting principles.

We also consent to the references to us under the headings "Accountants" and
"Condensed Financial Information - Accumulation Unit Values" in such
Prospectus and under the heading "Financial Statements" in such Statement of
Additional Information.

DELOITTE & TOUCHE LLP
Boston, Massachusetts

March 29, 2000<PAGE>

                                                                  Exhibit 10(b)

                        REPRESENTATION OF COUNSEL

I, Sandra M. DaDalt, in my capacity as counsel to Sun Life (N.Y.)
Variable Account C (the "Account") have reviewed this Amendment to the
Registration Statement of the Account which is being filed pursuant to
paragraph (b) of Rule 485 under the Securities Act of 1933. Based on my
review of this Post-effective Amendment and such other material relating to
the operations of the Account as I deemed relevant, I hereby certify as of
the date of filing this Amendment, that the Amendment does not contain
disclosure which would render it ineligible to become effective pursuant to
paragraph (b) of Rule 485.

I hereby consent to the filing of this representation as part of this
Amendment to the Registration Statement of the Account.

                                         /s/ SANDRA DADALT
                                         -----------------------
                                         Sandra DaDalt, Esq.

March 29, 2000

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