Document:

Incorporated Flexible Stock Plan

 Exhibit 10.1 
  
 REINSURANCE GROUP OF AMERICA, INCORPORATED 
 FLEXIBLE STOCK PLAN 
  
 NON-QUALIFIED STOCK OPTION AGREEMENT 
  
 Reinsurance Group of America, Incorporated, a Missouri corporation (the “Company”), and
                     (the “Optionee”) hereby agree as follows: 
  
 SECTION 1 
 Grant of Option 
  
 Pursuant to the
Reinsurance Group of America, Incorporated Flexible Stock Plan (“Plan”) and pursuant to action of the Committee charged with the Plan’s administration, the Company has granted to the Optionee, effective
                     (“Effective Date”), subject to the terms, conditions and limitations stated in this agreement
(“Agreement”) and the Plan, an option (“Option”) to purchase, at the price specified in Section 2,                     
(                    ) shares of the Common Stock of the Company reserved for Benefits under the Plan (“Option Shares”). The Option
is exercisable as provided in Section 3. 
  
 SECTION 2

 Option Price 
  
 The purchase price per Option Share shall be
                     (            ). 
  
 SECTION 3 
 Conditions and Limitations on Right To Exercise Option 
  
 (a) Vesting. Subject to paragraph (b) of this Section and subject to Sections 6 and 7, this Option may be exercised in full or in part pursuant to
the following schedule, but in no event later than                      (“Expiration Date”): 
  

			
	 Date

	  	 Cumulative
 Percentage of
 Option Shares
 Which Are
 Vested

 Upon a partial exercise of this Option, the number of Option Shares available for future purchase shall be reduced by the
number of Option Shares purchased upon such partial exercise. 
  
 (b) Exercise if No Longer an Employee. 
  
 (1) Termination. Except as provided in paragraph (2), the Option may be exercised only by the Optionee while the Optionee is an Employee or within 30 days following termination of the Optionee’s status as
an Employee. For purposes of this Agreement, “Employee” means: 
  
 (i) an officer or employee of the Company or one of its subsidiaries as defined in Section 424(f) of the Internal Revenue Code of 1986, as amended (“Code”), or 
  
 (ii) an officer or employee of the Company’s parent as
defined in Section 424(e) of the Code, MetLife Insurance Company or an affiliate of MetLife Insurance Company; provided the Optionee is serving in such capacity at the request of the Company and the Company’s Chief Executive Officer
approves the Optionee’s continued participation in the Plan. 
  
 Notwithstanding the foregoing, the Optionee may exercise the Option following termination only to the extent the Option was vested and had not been exercised prior to termination and in no event may the Option be
exercised after the Expiration Date. 
  
 An
approved leave of absence shall not constitute a termination for purposes of this Section if the leave of absence does not exceed 90 days, or, if longer, so long as the Optionee’s right to re-employment is guaranteed either by statute or
contract. Where the period of leave exceeds 90 days and re-employment is not so guaranteed, termination shall be deemed to occur on the first day of the period of leave (but not after the Expiration Date). 
  
 (2) Retirement, Disability or Death. 
  
 (i) In the event of the Optionee’s Disability or death
while serving as an Employee and prior to the Expiration Date, the Option shall become immediately vested with respect to all of the Option Shares which had not been purchased prior to such Disability or death, notwithstanding the vesting schedule
set forth in Section 3(a); and 
  
 (ii) in the
event of the Optionee’s Retirement prior to the Expiration Date, the Option may be exercised only to the extent it was vested under Section 3(a) and had not been exercised prior to Retirement (no additional Option Shares shall become vested
upon or following Retirement). 

 In the event of the Optionee’s Retirement, Disability or death while serving as an
Employee, the Option may be exercised at any time within five (5) years following the first such event to occur (but not after the Expiration Date). Should this Section 3(b)(2) become operative because the Optionee died while serving as an Employee,
or should the Optionee die after the Optionee’s Retirement or Disability, then the Option may be exercised by (i) a legatee or legatees of the Optionee under the Optionee’s last will; (ii) the Optionee’s personal representative(s)
under the Optionee’s last will or, if the Optionee died without a will, the executor of the Optionee’s probate estate; or (iii) the trustee(s) of the Optionee’s revocable living trust or of a trust indenture of which Optionee is a
grantor or a beneficiary. 
  
 For purposes of
this Agreement: “Retirement” means termination of the Optionee’s status as an Employee, after the Optionee has both (a) attained 55 years of age and (b) performed not less than 10 years of service as an Employee; and
“Disability” means the physical or mental condition of the Optionee arising after the Effective Date, which in the opinion of a qualified doctor of medicine chosen by the Company prevents the Optionee from continuing as an Employee.

  
 SECTION 4 
 Method of Exercise of Option 
  
 The Option may be exercised (in whole or in part) at any time or from time to time as provided in Section 3 by delivering to the Secretary or Chief
Financial Officer of the Company or by sending by certified mail, postage prepaid, to the Company to the attention of the Secretary (a) a written request designating the number of Option Shares to be purchased, signed by the Optionee or the
purchaser acting pursuant to Section 3(b)(2), and (b) payment to the Company of the full purchase price of the Option Shares with respect to which the Option is exercised. As promptly as practicable after such exercise of the Option, the Company
shall issue the specified number of Option Shares to the Optionee or purchaser, as the case may be. Payment may be made either in cash or, in the discretion of the Committee, in shares of Common Stock, other property or any combination of cash,
shares of Common Stock or other property. Shares of Common Stock shall be valued for purposes of such payment according to their Fair Market Value (as defined in the Plan) as of the date of delivery to the Company. 

 SECTION 5 
 Delivery of Shares 
  
 The Company shall not be required to issue or deliver any certificates for Option Shares upon the exercise of this Option prior to (a) the admission of such shares to listing on any stock exchange on which the Company’s Common Stock
may then be listed, (b) the completion of any registration and/or qualification of such shares under any state or federal laws or rulings or regulations of any governmental regulatory body, which the Company shall determine to be necessary or
advisable, or (c) if the Company so requests, the filing with the Company by the Optionee or the purchaser acting pursuant to Section 3(b)(2) of a representation in writing at the time of such exercise that it is his or her present intention to
acquire the shares being purchased for investment and not for resale or distribution. 
  
 SECTION 6 
 Change of Control 
  
 Notwithstanding the vesting schedule set forth in Section 3(a), in the event
of a Change of Control (as defined in the Plan) prior to the Optionee’s termination, Retirement, Disability or death (as described in Section 3(b)), the Option shall become immediately vested with respect to all of the Option Shares which had
not been purchased prior to the Change of Control (but in no event may the Optionee purchase any Option Shares after the Expiration Date). 
  
 SECTION 7 
 Cancellation 

  
 Notwithstanding anything herein to the contrary, this
Agreement shall be cancelled and the Option granted hereby shall be forfeited, without any further action by the Committee, as a result of the Optionee’s Malfeasance. In the event of such cancellation, all rights of the Optionee hereunder shall
terminate, irrespective of whether the Option is otherwise vested, and the Option Shares shall be available for future grant in accordance with the Plan. “Malfeasance” means (1) any conduct, act or omission that is contrary to the
Optionee’s duties as an Employee or that is inimical or in any way contrary to the best interests of the Company or any of its Affiliates, or (2) employment of the Optionee by or association of the Optionee with an organization that competes
with the Company or any of its Affiliates. 
  
 SECTION 8

 Miscellaneous 
  
 (a) Rights in Shares Prior to Issuance. Prior to issuance of certificates for shares of Common Stock, neither the Optionee nor his or her legatees,
personal representatives, or distributees, shall be deemed to be a holder of any shares of Common Stock subject to this Option. 

 (b) Non-assignability. This Option shall not be transferable by the Optionee otherwise than by
will or by the laws of descent and distribution; provided that, the Optionee may transfer the Option during his or her lifetime to a revocable living trust of which the Optionee is grantor, or to another form of trust indenture of which Optionee is
a grantor or a beneficiary. This Option may be exercised during the Optionee’s lifetime only by the Optionee; the Optionee’s guardian, power of attorney, or legal representative; or the trustee of the Optionee’s revocable living trust
or of a trust indenture of which Optionee is a grantor or a beneficiary. 
  
 (c) Designation of Beneficiaries. The Optionee may file with the Company a written designation of a beneficiary or beneficiaries to exercise, in the event of the Optionee’s death, the Option granted
hereunder, subject to all of the provisions of the Option Award and these Terms and Conditions. An Optionee may from time to time revoke or change any such designation of beneficiary and any designation of beneficiary under the Plan shall be
controlling over any other disposition, testamentary or otherwise; provided, however, that if the Committee shall be in doubt as to the right of any such beneficiary to exercise the Option, the Committee may determine to recognize only an exercise
by the personal representative of the estate of the Optionee, in which case the Company, the Committee and the members thereof shall not be under any further liability to anyone. 
  
 (d) Changes in Capital Structure. If there is any change in the Common Stock of the Company by reason of any stock
dividend, spin-off, split-up, spin-out, recapitalization, merger, consolidation, reorganization, combination or exchange of shares, the number of SARs and the number, kind and class of shares available for Options and grants of Restricted Stock,
Performance Shares and Other Stock Based Awards and the number, kind and class of Shares subject to outstanding Options, SARs, grants of Restricted Stock and Performance Shares, and Other Stock Based Awards, and the price thereof, as applicable,
shall be appropriately adjusted by the Committee. The issuance of Shares for consideration and the issuance of Share rights shall not be considered a change in the Company’s capital structure. No adjustment provided for in this section shall
require the issuance of any fractional shares. 
  
 (e) Right to
Continued Employment. Nothing in this Agreement shall confer on the Optionee any right to continued employment or interfere with the right of an employer to terminate the Optionee’s employment at any time. 

 (f) Option Not An Incentive Stock Option. This Option is not, and will not be treated as, an
Incentive Stock Option under Section 422 of the Code. 
  
 SECTION 9 
 Terms of the Plan 
  
 This Option is subject to all of the terms of the Plan whether or not such terms are set forth in this Agreement, and
capitalized terms not specifically defined herein shall have the meanings ascribed to them in the Plan. 
  
 IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of this      day of
                    . 
  

			
	 “Company”

	Reinsurance Group of America, Incorporated
		
	 By:
  
	 	

	 Name:
	 	A. Greig Woodring
	 Title:
	 	President and Chief Executive Officer
	
	 “Optionee”

	  
  

	 Name:Incorporated Flexible Stock Plan

 Exhibit 10.2 
  
 REINSURANCE GROUP OF AMERICA, INCORPORATED 
 FLEXIBLE STOCK PLAN 
  
 PERFORMANCE CONTINGENT RESTRICTED STOCK AGREEMENT 
  
 THIS PERFORMANCE CONTINGENT RESTRICTED STOCK AGREEMENT (“Award Agreement”) is made and entered into as of
                     (the “Date of Grant”), by and between Reinsurance Group of America, Incorporated (the “Company”), and
                     (“Employee”). 
  
 SECTION I 
 BACKGROUND

  
 A. The Board of Directors of the Company (the “Board
of Directors”) has adopted, and the Company’s shareholders have approved, the Reinsurance Group of America, Incorporated Flexible Stock Plan (the “Plan”), pursuant to which awards of restricted stock may be granted to employees
of the Company and its Affiliates and certain other individuals. 
  
 B. The Company desires to grant to Employee a restricted stock award under the terms of the Plan; provided that, the Restricted Shares granted in accordance with this Award Agreement shall be deemed Performance Shares, as defined and
described in the Plan. 
  
 C. Pursuant to the Plan, the Company
and Employee agree as follows: 
  
 SECTION II 
 AGREEMENT 
  
 1. Grant of Award. The Company grants to Employee
                    
(                    ) shares of the Company’s Common Stock, $.01 par value (the “Restricted Shares”), subject to the terms,
conditions, and adjustments set forth in this Award Agreement. The number of Restricted Shares granted under this Section 1 is referred to in this Award Agreement as the “Target Grant.” 
  
 2. Award Subject to Plan. This award is granted under and is expressly subject
to all the terms and provisions of the Plan, which terms are incorporated herein by reference, and this Award Agreement. Restricted Shares granted in accordance with this Award Agreement shall be deemed Performance Shares, as defined and described
in the Plan. 
  
 3. Performance Period. The performance period for this
award is the three (3) year period beginning                     , and ending
                     (the “Performance Period”). 
  
 4. Payment. 
  
 (a) Restricted Shares Payable In Common Stock. Subject to early termination of this Award Agreement pursuant to Section 6 or 7 below, as
soon as practicable following the end of the Performance Period and the determination of the Company’s Earnings Per Share Growth Rate (as defined in Section 5(b)) and Revenue Growth Rate (as defined in Section 5(c)) over such Performance
Period, the Company will deliver to Employee one (1) Share of the Company’s Common Stock for each Restricted Share earned under this Award Agreement; provided, however, that any fractional Restricted Share shall be paid in cash equal to such
fraction of the Fair Market Value of a Share of Common Stock on the date of payment. 
  
 (b) Dividend Equivalents. Restricted Shares shall not include dividend equivalent payments or dividend credit rights. 
  
 (c) Voting Rights. Employee shall have no voting rights with respect to the Shares of Common Stock represented
by the Restricted Shares awarded hereunder prior to delivery thereof pursuant to Section 4 (a). 

 5. Performance Criteria and Adjustments. 
  
 (a) Performance Criteria. The measures and weights for the 2004 Intermediate-Term Bonus Plan are outlined
below. 
  

									
	 	  	 	  	Performance Levels

	 	  	 	  	1

	  	2

	  	3

	 Measures

	  	Weighting

	  	Threshold

	  	Target

	  	Maximum

  
 (b) Adjustment of
Target Grant.                      (        ) of the number of Restricted Shares in
the Target Grant will increase or decrease based upon the Company’s Earnings Per Share Growth Rate (as defined in Section 5(c) below) over the Performance Period (the “EPS Restricted Shares”), and
                     (        ) of the number of Restricted Shares in the Target Grant will
increase or decrease based upon the Company’s Revenue Growth Rate (as defined in Section 5(d) below) over the Performance Period (the “Revenue Restricted Shares”), as follows: 
  

			
	 If the Company’s Earning
 Per Share Growth Rate
 Over the Performance
 Period is:
	 	 The Number of EPS Performance Contingent Restricted Shares converted to
 shares of stock will be:

  

			
	 If the Company’s Revenue
 Growth Rate Over the Performance Period is:
	 	The Number of Revenue Performance Contingent Restricted Shares converted to shares of stock will be:

  

 -2- 

 If intermediate percentages are achieved, the number of Restricted Shares will be prorated. For example, if the target
grant is 1,000 Restricted Shares, the Company’s Earnings Per Share Growth Rate during the Performance Period is 11% and the Revenue Growth Rate is 10%, then the number of Restricted Shares finally granted would be
         , determined as follows: 
  
 EPS Restricted Shares: 
  
 Revenue Restricted Shares: 
  
 In no event will Employee be entitled to receive a total number of Restricted Shares greater
than     % of the Target Grant, even if the Company’s Earnings Per Share Growth Rate or Revenue Growth Rate during the Performance Period exceeds     %. 
  
 (c) Earnings Per Share Growth Rate. “Earnings Per Share
Growth Rate” for the Performance Period is the compounded annual percentage increase, if any, of the Company’s annual operating earnings per Share (i.e., net income per Share from continuing operations less realized capital gains and
losses and certain other non-operating items) for the final year of the Performance Period compared to the Company’s annual operating earnings per Share for the fiscal year immediately preceding the Date of Grant. The Earnings Per Share Growth
Rate will be determined by the Company using generally accepted accounting principles, consistently applied. 
  
 (d) Revenue Growth Rate. “Revenue Growth Rate” for the Performance Period is the compounded annual percentage increase, if any, of
the Company’s annual consolidated revenue for the final year of the Performance Period compared to the Company’s annual consolidated revenue for the fiscal year immediately preceding the Date of Grant. The Revenue Growth Rate will be
determined by the Company using generally accepted accounting principles, consistently applied. 
  
 6. Demotion or Transfer. In the event that Employee is demoted or transferred to a position with the Company or any of its Affiliates in which Employee is not eligible to participate in the Plan, as determined
by the Committee in its sole discretion, this Award Agreement will terminate and be of no further force or effect and the Restricted Shares awarded to Employee hereunder shall be forfeited. 
  
 7. Termination of Employment. 
  
 (a) Death, Disability or Retirement. If Employee ceases to be
employed by the Company or any of its Affiliates prior to the expiration of the Performance Period due to death, disability or retirement, Employee (or, in the event of Employee’s death, the legal representative of the Employee’s estate or
revocable living trust) shall receive a pro rata proportion of the Shares of Common Stock that would have been issued to Employee under this Award Agreement at the end of the Performance Period, determined by multiplying such Shares by a fraction,
the numerator of which is the number of calendar months in the Performance Period during which Employee’s employment continued, and the denominator of which is the number of months in the Performance Period. Employment for any portion of a
calendar month shall be deemed employment for that calendar month. For purposes of this Agreement, (i) ”disability” shall mean disability as defined in any long-term disability plan maintained by the Company or an Affiliate which covers
Employee or, in the absence of any such plan, the physical or mental condition of Employee arising during the Performance Period, which in the opinion of a qualified physician chosen by the Company prevents Employee from continuing employment with
the Company and its Affiliates, and (ii) ”retirement” shall mean termination of employment with the Company and its Affiliates after Employee has both attained age 55 and performed not less than ten (10) years of service for the Company
and its Affiliates. 
  
 (b) Other Termination. In
the event that Employee’s employment with the Company and its Affiliates is terminated, whether voluntarily or involuntarily, for any reason other than death, disability or retirement, this Award Agreement will terminate and be of no further
force or effect and the Restricted Shares awarded to Employee hereunder shall be forfeited, unless otherwise determined by the Committee in its sole discretion. 
  

 -3- 

 8. Change of Control. Notwithstanding anything herein to the contrary, in the event a
Change of Control occurs during the Performance Period prior to Employee’s death, disability, retirement or other termination of employment, (a) the Earnings Per Share Growth Rate and the Revenue Growth Rate for the Performance Period shall be
deemed to be     %, and (b) Section 7(b) shall not apply in the case of involuntary termination of Employee’s employment by the Company or an Affiliate other than for cause. The number of Shares of Common Stock
determined in accordance with Sections 1 and 5(a) (and, in the event of Employee’s death, disability or retirement prior to the end of the Performance Period, Section 7(a)) shall be delivered to Employee (or, in the event of Employee’s
death, Employee’s estate) as soon as practicable following the end of the Performance Period. For purposes of this Section 8, “cause” shall mean (a) any conduct, act or omission that is contrary to Employee’s duties as an
executive officer of the Company or that is inimical or in any way contrary to the best interests of the Company or any of its Affiliates, or (b) employment of Employee by or association of Employee with an organization that competes with the
Company or any of its Affiliates. 
  
 9. Tax Withholding.
Employee must pay, or make arrangements acceptable to the Company for the payment of any and all federal, state, and local tax withholding that in the opinion of the Company is required by law. Unless Employee satisfies any such tax withholding
obligation by paying the amount in cash or by check, the Company will withhold Shares of Common Stock having a Fair Market Value on the date of withholding equal to the tax withholding obligation. 
  
 10. Securities Law Requirements. The Company shall not be required to
issue Shares pursuant to this Award Agreement unless and until (a) such Shares have been duly listed upon each stock exchange on which the Company’s Common Stock is then registered, and (b) a registration statement under the Securities Act of
1933 with respect to such Shares is then effective. 
  
 11.
Non-Transferability. Neither this award nor any rights under this Award Agreement may be assigned, transferred, or in any manner encumbered except by will or the laws of descent and distribution, and any attempted assignment, transfer,
mortgage, pledge or encumbrance, except as herein authorized, will be void and of no effect. 
  
 12. Definitions; Copy of Plan. To the extent not specifically defined in this Award Agreement, all capitalized terms used in this Award Agreement will have the same meanings ascribed to them in the Plan. By
signing this Award Agreement, Employee acknowledges receipt of a copy of the Plan. 
  
 13. Choice of Law. This Award Agreement will be governed by the laws of the State of Missouri, excluding any conflicts or choice of law rule or principle that might otherwise refer construction or
interpretation of this Award Agreement to another jurisdiction. 
  
 An authorized representative of the Company has signed this Award Agreement, and Employee has signed this Award Agreement to evidence Employee’s acceptance of the award on the terms specified in this Award Agreement, all as of the Date
of Grant. 
  

			
	 “Company”

	Reinsurance Group of America, Incorporated
		
	 By:
  
	 	

	 Name:
	 	A. Greig Woodring
	 Title:
	 	President and Chief Executive Officer
	
	 “Optionee”

	  
  

	 Name:
                                        
    

  

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