Document:

InsurancePolicy2_EN_final

    

Page 1
Certificate of Insurance     No. 174 596-35
Commercial Direct Insurance (salary conversion)

Personal data
	
		
	Policyholder
	Charles River Wiga GmbH

	Insured party
	Dr. Joerg Geller
DOB 09/26/1954

	Group insurance according to 
Rate K1 M
	 

	Amount insured
	DM 22,661

	Maturity
	Upon the death of the insured party, no later than 04/01/2015

	Technical commencement
	04/01/1998

	Age at entry
	43 years

	Term of insurance
	17 years

	Age at expiry
	60 years

	Expiration of insurance
	04/01/2015

	Duration of premium payment
	17 years

	Expiration of premium payment
	04/01/2015

	Allocation of profits
	Interest-bearing accumulation until maturity of the amount insured

This policy is subject to the enclosed terms of insurance:

General Terms and Conditions for Life Insurance (ALB94), Special Conditions for Universal Life Insurance (L97), Statute (SAT94)

Entitlement to benefits
The insured party is irrevocably entitled to benefits, in the event of both death as well as survival.

In the event of death of the insured party, the insurance benefit is to be paid, in the following order, to: 

		
	a)
	the spouse, to whom he was married at the time of death,

		
	b)
	the children born in marriage and those legally equivalent to them, in equal shares,

		
	c)
	the parents,

		
	d)
	the heirs.

The aforementioned surviving beneficiaries in the event of death have 

98117 04/24/1998                                Continued on page 2

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Certificate of Insurance     No. 174 596-35

an irrevocable claim to the insurance benefits in the event of the death of the insured person. 
The entitlement to benefits also applies to the excess shares.
The benefits will be paid by Hannoversche Leben directly to the insured party or, following his death, to the persons entitled to benefits.

The insured party can amend his payment instructions in the event of death via a written statement to Hannoversche Leben.

Annual premium
	
		
	For DM 22,661 primary amount insured
	DM 1,053.32

	./. large-sum discount of DM 2.00 per DM 1,000 amount insured
	DM      45.32

	 
	DM 1,008.00

	 
	 

	Form of payment
	 

	Annual
	DM 1,008.00

	Payable on 04/01 of each year
	DM 1,008.00

	 
	 

	Initial premium due
	 

	Initial premium from 04/01/1998 to 03/31/1999
	DM 1,008.00

	Remaining payment
	DM 1,008.00

which we will debit from your account.

Subsequent premiums
We will also have the subsequent premiums debited from your account No.:
1012005500 with BfG Schweinfurt (Routing No. 79010111).
We will not send premium statements on the individual due dates.

98117 04/24/1998                                Continued on page 3

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Certificate of Insurance     No. 174 596-35

Commencement of insurance coverage
The insurance coverage commences upon receipt of this insurance policy, but not prior to the technical commencement of insurance. We assume that the initial premium can be debited from your account by the next debit date, and that the debit note will not be disputed. Otherwise the insurance coverage would be rendered invalid retroactively.

Minimum coverage in the event of death for life insurance policies
The provisions of the letter from the Federal Minister of Finance, dated 12/06/1996, are met with this life insurance policy.

Additional insurance agreement
The right to choose an annuity is irrevocably excluded for this agreement.

For the duration of employment, it is irrevocably agreed that a transfer of the capacity of policyholder and an assignment of rights arising from this agreement to the insured employee until the date at which the insured employee turns 59, is excluded, insofar as the premiums have been paid by the policyholder (employer). 

The assignment or lending of the irrevocable entitlement against security is excluded.

98117 04/24/1998                            Continued on page 4

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Certificate of Insurance     No. 174 596-35

**********
Your insurance policy is a security.
To claim insurance benefits, you must submit it to us.
Please keep it in a safe place, so as to prevent abuse by unauthorized individuals.
**********

Hanover, 4/24/1998

Hannoversche Lebensversicherung a.G.
[signature]

Enclosures:
ALB94, L97, SAT94    

Notes
		
	1. 
	Declarations of intent: Declarations of intent directed at Hannoversche Lebensversicherung must be submitted in writing (faxes are insufficient) (see Section 12 of the General Terms and Conditions for Life Insurance). 

		
	2. 
	Pursuant to Section 3 of the VVG (Versicherungsvertragsgesetz, Insurance Policy Act), the policyholder can, at any time, request copies of the declarations he has submitted with reference to the policy.

_____________________________________________________________________________
Hannoversche Lebensversicherung a.G.
Karl-Wiechert-Allee 10 • 30622 Hannover, Germany • Telephone +49 (0)511 9565-0 • Fax +49 (0)511 9565 666
Headquarters: Hannover, Hannover Trade Registry B 3413

Chairman of the Supervisory Board: Dr. Wilhelm Henning
Executive Board: Dr. Eckart Freiherr von Uckermann (chairman), Bernd Meißner, Karl-Heinz Minkwitz

Accounts in Hanover
Landeszentralbank (Routing No. 250 000 00) 25007000 • Deutsche Bank (Routing No. 250 700 70) 0234005 • Dresdner Bank (Routing No. 250 800 20) 104220800
Commerzbank (Routing No. 250 400 66) 302756200 • Nord/LB (Routing No. 250 500 00) 101055739 • Postbank (Routing No. 250 100 30) 1100-301

Enclosure
Certificate of Insurance     No. 174 596-35

Table of guaranteed cash-in values and premium-free amounts insured

If this insurance is terminated or made premium-free, the following cash-in values (“RW”) or premium-free amounts insured (“bS”) will result, without consideration for profit credits:

	
			
	 
	Figures in DM

	Effective date
	RW
	bS

	04/01/1999
	957
	1,710

	04/01/2000
	1,949
	3,362

	04/01/2001
	2,980
	4,962

	04/01/2002
	4,049
	6,506

	04/01/2003
	5,159
	8,001

	04/01/2004
	6,310
	9,444

	04/01/2005
	7,506
	10,840

	04/01/2006
	8,748
	12,190

	04/01/2007
	10,041
	13,498

	04/01/2008
	11,387
	14,765

	04/01/2009
	12,791
	15,995

	04/01/2010
	14,255
	17,187

	04/01/2011
	15,785
	18,345

	04/01/2012
	17,384
	19,469

	04/01/2013
	19,059
	20,562

	04/01/2014
	20,815
	21,625

	04/01/2015
	22,661
	22,661

When comparing with your payments, please note that only the savings portions of your premiums are available for the values in the table. This is because your premium has three components:
		
	–Risk component–
	We use this to fund the benefits to which there is a claim upon the death of the insured party.

		
	–Cost component–
	We use this to cover the cost of concluding your insurance and of its continued administration.

		
	–Savings component–
	We use this to generate the guaranteed cash-in value, which will reach the insured amount by the expiration of the policy. The level it reaches at a given time is the basis for the values in the table.

Hanover, 4/24/98PensionCommitmentofDecember1319961996PensionCommitment_EN_fin

Company Pension Plan

Pension Commitment

PENSION COMMITMENT

by the company:    Charles River Wiga Deutschland GmbH
for:    Dr. Jörg Geller
DOB:    09/26/1954    Joined the company:

The company hereby pledges to you benefits under its Company Pension Scheme in accordance with the following provisions.

These benefits include:    a) Old-age pension
b) Disability pension
c) Widow’s/widower’s pension

		
	1. 
	Old-age pension

		
	1.1
	Upon leaving the company after turning 60, you are entitled to an old-age pension. The old-age pension comprises DM 5,600.00 a month and is paid for life.

		
	2.
	Disability pension

		
	2.1
	If you become disabled after turning_____ and leave the company, you are entitled to a disability pension in accordance with the provisions stipulated in detail in the appendix.

The disability pension comprises DM ____ a month. You will receive the disability pension for the length of the disability (see appendix, Item 6.4), until reaching the age of ___ at the latest.

		
	3.
	Widow’s/widower’s pension

		
	3.1
	Following your death, your spouse, with whom you lived in a valid marriage at the time of your death, will receive a widow’s/widower’s pension for the remainder of her/his life.

The widow’s/widower’s pension comprises 28.57% of the old-age pension. It expires in the event of remarriage. 

		
	3.2
	In the event of suicide within the first 4 years following the issuance of the pension commitment, no claim to a widow’s/widower’s pension shall exist unless the act was committed in a state of mental disturbance that excludes the exercise of free will. 

		
	4.
	Premature departure / premature old-age pension

		
	4.1
	If you leave the company before benefits come due, the entitlement to benefits from the company pension scheme earned up to that point shall be maintained. 

		
	4.2
	If benefits come due because the age limit has been reached, because of disability or death, a claim exists in the amount of the portion of benefits due without premature departure that corresponds to the relationship of the period of your actual, uninterrupted employment with the company to the period from the commencement of your employment with the company the age limit provided in this pension commitment is reached. 

		
	4.3
	If you draw full benefits from the statutory pension insurance or a comparable pension institution prior to reaching the designated age limit (early/flexible old-age pension), you will be entitled to an early old-age pension as of that date. Because of the longer guarantee period of the old-age pension, it will be reduced by 0.5% per month while claiming benefits early. This also applies for a reduced prospective entitlement pursuant to item 4.2.

		
	5.
	Payment of the pensions and related benefits

		
	5.1
	The pensions will be paid by the company monthly in advance, beginning with the 1st day of the month following establishment of the claim to benefits. They will be discontinued at the end of the month in which the terms under which they were granted no longer apply. You or your spouse are obligated to notify the company of any change in personal circumstances that affect the obligations arising from this commitment. The special provisions stated in the appendix apply preferentially to the disability pension.

		
	5.2
	Your or your surviving dependents are responsible for paying the taxes and fees on the pension benefits. The beneficiary’s wage tax card shall be presented to the company for the duration of pension payment.

		
	6.
	Reinsurance

		
	6.1
	The company reserves the right to conclude a life insurance policy (reinsurance) to reinsure the obligations arising from this commitment. By acknowledging this commitment, you grant your approval of the conclusion of reinsurance and are obligated to support all relevant regulations. This means, in particular, submitting to a medical examination, if necessary, and to fully and truthfully answer all questions asked in connection with the conclusion of the policy.

		
	6.2
	The company is entitled to all rights arising from the reinsurance, in particular, the entitlement to benefits as well.

		
	7.
	Assignment of claims

		
	7.1
	A claim to a company pension cannot be assigned, pledged or lent against security without the company’s consent.

		
	7.2
	Claims for damages against individuals whose behavior has triggered a claim for a company pension must, with the exception of a claim for injury awards, be assigned to the company up to the amount of this company pension.

8.    Reservations 

		
	8.1
	The company reserves the right to amend the pension commitment and/or to reduce or discontinue the company pension if

		
	- 
	the economic situation of the company has consistently deteriorated to such an extent that it can no longer be expected to maintain the pledged company pensions, or

		
	-
	the group of people, premiums, benefits or retirement age for statutory pension insurance or other pension institutions with legal claims change considerably, or

		
	-
	the legal treatment, particularly the treatment according to tax law, of the expenditures that are being made or were made by the company for the scheduled funding of company pensions changes to such a considerable degree that the company can no longer be expected to maintain the pledged company pensions, or

		
	-
	you or the beneficiary commit acts that are in gross violation of good faith, or would serve as grounds from dismissal without prior notice.

		
	8.2
	As for the rest, the company reserves the right to amend the pension commitment and/or to reduce or discontinue the company pension if the conditions applicable at the time this pension commitment was granted have consistently changed to such a considerable degree that the company can no longer be expected to maintain the pledged company pensions, even under objective consideration of the affairs of the beneficiary.

9.    Special agreements

    

    

Sulzfeld, 12/13/1996        [signature]
Company headquarters, date        Stamp and signature of the company*) 

Please sign below, as an indication of your acceptance of this pension commitment and your agreement with its contents, including the provisions regulating the disability pension on the overleaf of the appendix.

[signature]
Signature of the person entitled to the pension

*) If the person entitled to the pension also signs as managing director of the company, it should be noted that the managing director is exempt from the provisions of Section 181 of the German Civil Code (“Prohibition on Contracting with Self”), and that this has been recorded in the Commercial Register.

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