Document:

EXHIBIT (10)(A)

 EXHIBIT (10)(a) 

Consent of Counsel 

 [Sutherland Asbill & Brennan LLP] 

April 16, 2012 
 Board of Directors

 Transamerica Advisors Life Insurance Company 
 Merrill Lynch Life Variable Annuity Separate Account B 
 4333 Edgewood Road, NE 

Cedar Rapids, IA. 52499-0001 
  

			
	RE:	 	Merrill Lynch Life Variable Annuity Separate Account B
		 	Merrill Lynch Retirement
Plus®
		 	File No. 033-45379/811-06546

 Gentlemen: 
 We hereby consent to the use of our name under the caption “Legal Matters” in the Prospectus contained in Post-Effective Amendment No. 34 to the Registration Statement to Form N-4 (File
No. 033-45379) of the Merrill Lynch Life Variable Annuity Separate Account B filed by Transamerica Advisors Life Insurance Company with the Securities and Exchange Commission. In giving this consent, we do not admit that we are in the category
of persons whose consent is required under Section 7 of the Securities Act of 1933. 
  

			
	Very truly yours,
	
	Sutherland Asbill & Brennan LLP
		
	By:	 	 /s/ Frederick R. Bellamy

		 	Frederick R. BellamyEXHIBIT (10)(B)

 EXHIBIT 10(b) 
 CONSENT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM 

 Consent of Independent Registered Public Accounting Firm 

We consent to the reference to our firm under the caption “Experts” in the Prospectus and to the use of our reports: (1) dated
March 29, 2012, with respect to the financial statements of Transamerica Advisors Life Insurance Company, (2) dated April 23, 2012, with respect to the financial statements of Merrill Lynch Life Variable Annuity Separate Account B in
Post-Effective Amendment No. 34 to the Registration Statement (Form N-4, No. 33-45379) under the Securities Act of 1933, and the related Prospectus Merrill Lynch Retirement Plus. 

/s/ Ernst & Young LLP 

Des Moines, Iowa 
 April 23, 2012Form of Performance Share Award Agreement

 Exhibit 10.1 
 PERFORMANCE SHARE AWARD AGREEMENT 
 UNDER THE 

SIGMA-ALDRICH CORPORATION 
 2003 LONG-TERM INCENTIVE PLAN, AS AMENDED 
 The following terms
(“Terms”) govern the Performance Share Awards issued under the Sigma-Aldrich Corporation 2003 Long-Term Incentive Plan, as amended (the “Plan”) with respect to performance share awards granted on or after January 1, 2012:

 BACKGROUND 
  

	 	A.	The Board of Directors of the Company (the “Board of Directors”) has adopted, and the Company’s shareholders have approved, the Plan, pursuant to which
performance share incentive awards may be granted to employees of the Company and its subsidiaries and certain other individuals. 

  

	 	B.	The Company desires to grant to Employee a performance share award under the terms of the Plan and these Terms. 

TERMS 
  

	 	1.	Grant of Award.  Pursuant to action of the Committee (as defined herein), the Company has granted to the Employee the number of performance shares
(“Performance Shares”) set forth in the Employee’s Performance Share Award Letter (“Letter”) granted on or after January 1, 2012, subject to the terms, conditions, and adjustments set forth in this Performance Share
Award Agreement (“Agreement”) and Exhibit A hereto, the Plan and the Letter. The Performance Shares granted under the Letter are referred to in this Agreement as the “Target Grant.” Notwithstanding anything herein or in Exhibit
A, the Plan or the Letter to the contrary, this award is subject to the Company’s Financial Restatement Policy as amended from time to time. This Agreement and these Terms completely supersede and replace any prior form of terms, conditions,
and agreements with respect to Performance Shares granted under the Plan on and after January 1, 2012. 

  

	 	2.	Award Subject to Plan.  The award is granted under, and is expressly subject to, all of the terms and provisions of the Plan, as amended from time
to time, which terms are incorporated herein by reference, this Agreement and the Letter. The Committee described in Section 3 of the Plan (the “Committee”) has been appointed by the Board of Directors, and designated by it, as the
Committee to make awards. 

  

	 	3.	Performance Period.  The performance period for the award begins January 1, 2012, and ends December 31, 2014 (the “Performance
Period”). 

  

	 	4.	Payment.  Subject to early termination of this Agreement below or as otherwise specifically provided herein, following the end of the Performance
Period but no later than March 15 of the calendar year following the end of the Performance Period, the Company will deliver to Employee one share of the Company’s Stock for each then-outstanding Performance Share under the Letter and
subject to this Agreement; except that, the Committee shall take such action as may be necessary in the opinion of the Company to satisfy all obligations for withholding of such taxes as provided in Section 7. No fractional Shares shall be
issued, and any fractional Shares shall be rounded down to the nearest whole Share. 

  

	 	5.	Performance Criteria and Adjustments.  Forty percent (40%) of the Target Grant will increase or decrease based upon the Company’s
three-year average “Return on Equity,” forty percent (40%) of the Target Grant will increase or decrease based upon the Company’s three-year average “Sales Growth,” and twenty percent (20%) of the Target Grant will
increase or decrease based upon the Company’s three-year average relative “Total Shareholder Return” during the Performance Period, as described more fully in Exhibit A hereto (“Performance Criteria”).

  

	 	6.	Termination of Award.  

  

	 	(a)	This Agreement and the Letter will terminate and be of no further force or effect on the date that Employee is no longer actively employed by the Company or any of its
subsidiaries, whether due to voluntary or involuntary termination other than on account of death, Disability, Retirement, or involuntary termination by the Company other than for Cause to the extent specifically provided herein, prior to the date on
which the Performance Period ends. Employee will, however, be entitled to receive any Stock payable under Section 4 of this Agreement if Employee’s employment terminates after the Performance Period but before Employee’s receipt of
such Stock. The award granted hereunder shall not be affected by any change in employment responsibilities after the award is granted, including any change in employment position with the Company that is otherwise deemed to be ineligible for the
grant of an award under the Plan, so long as the Employee continues to be actively employed by the Company or any of its subsidiaries. 

  

	 	(b)	If Employee’s employment terminates before the end of the Performance Period on account of Retirement (as defined herein) or involuntary termination of employment by
the Company without Cause, any portion of the award which has not yet vested shall vest at such time, but only to the extent the Performance Criteria are achieved, without regard to such termination of employment, and any payment under
Section 4 hereof shall be prorated based on the number of months in the portion of the Performance Period during which Employee was employed by the Company. For purposes of determining such prorated amount under this subsection, Employee shall
be deemed to be employed for an entire month if Employee terminates during such month while employed during the Performance Period. Without limiting the foregoing, in the event Employee’s employment terminates before the end of the Performance
Period on account of Retirement or involuntary termination of employment by the Company without Cause, any portion of the award which vests in accordance with the foregoing sentence shall be payable at the time and in the manner set forth in
Section 4 after the end of the Performance Period, and such payment which would otherwise be received hereunder had the Employee remained employed shall be reduced in the same proportion as the period in the Performance Period during which
Employee was not employed due to such termination. For example, if the Employee’s employment terminates on account of Retirement on December 31, 2012, and if the target Performance Criteria are achieved at the end of the Performance
Period, Employee shall be entitled to receive one-third of the Target Grant, payable following the end of the Performance Period but no later than March 15 of the calendar year following the end of the Performance Period, subject to all terms
and conditions provided herein. Notwithstanding anything in the Plan to the contrary, for purposes of this Agreement, Retirement shall mean the voluntary termination of employment by Employee after the date on which Employee either (i) attains
age sixty five (65), or (ii) both attains age fifty five (55) and completes seven (7) years of service with the Company and its affiliates, whether or not such service is consecutive. 

 

	 	(c)	If Employee’s employment terminates before the end of the Performance Period on account of death or Disability, the award shall vest at the Target Grant, as though
one hundred percent (100%) of the Performance Criteria were achieved, and any portion of the award which vests in accordance with the foregoing shall be prorated based on the number of months in the portion of the Performance Period during
which Employee was employed by the Company. For purposes of determining such prorated amount under this subsection, Employee shall be deemed to be employed for an entire month if Employee terminates during such month while employed during the
Performance Period. Such amount shall be payable in the month following such termination on account of death or Disability. 

  

	 	(d)	Each outstanding Performance Share hereunder shall immediately and fully vest at the Target Grant, as though one hundred percent (100%) of the Performance Criteria
were achieved, and any restrictions shall lapse, upon the occurrence of a Change in Control that occurs while the Employee is employed with the Company or any of its subsidiaries and before the end of the Performance Period. Any portion of the award
which vests in accordance with the foregoing shall be payable in the month following such Change in Control, or, if earlier, at the time and in the manner set forth in Section 4 after the end of the Performance Period. 

 

	 	7.	Tax Withholding.  The Company shall withhold from any payment hereunder an amount of shares of Company Stock sufficient to cover any required
withholding taxes to the extent required by minimum statutory withholding requirements. 

  

	 	8.	Non-Transferability.  Neither the award nor any rights under this Agreement or the Letter 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. 

 

	 	9.	Definitions: Application of Plan.  To the extent not specifically defined in this Agreement or the Letter, all capitalized terms used in this
Agreement and the Letter will have the same meanings ascribed to them in the Plan. The Performance Shares are granted to Employee subject to all terms and conditions of the Plan. These Terms are an integral part of the Letter and should be read in
conjunction therewith. 

  

	 	10.	Choice of Law.  To the extent not preempted by Federal law, this Agreement and the Letter and all determinations and actions taken hereunder and
thereunder shall be governed by the laws of the State of Missouri, without giving effect to principles of conflicts or choice of law rules or principles, and construed accordingly, except for those matters subject to the General Corporation Law of
Delaware, which shall be governed by such Law, without giving effect to principles of conflicts laws, and construed accordingly. 

  

 

	 	11.	Adjustment.  Appropriate adjustments in outstanding Performance Shares and payments with respect to such outstanding Performance Shares shall be
made by the Committee to give effect to adjustments made in the number or type of Shares through a reclassification, stock dividend, stock split or stock combination, or similar event in accordance with the terms of the Plan.

  

	 	12.	Section 409A.  It is intended that this Agreement shall be administered in a manner that will comply with or meet an exception from
Section 409A of the Code, and this Agreement shall be administered and interpreted in accordance with such intent. The Committee may adopt rules deemed necessary or appropriate to qualify for an exception from or to comply with the requirements
of Section 409A of the Code. Notwithstanding anything in this Section to the contrary, no amendment to or payment under this Agreement will be made unless permitted under Section 409A of the Code. 

Exhibit A 
 (Performance
Share Award Agreement) 
 Forty percent (40%) of the Performance Shares in the Target Grant will increase or decrease based upon the
Company’s three-year average Return on Equity, forty percent (40%) of the Performance Shares in the Target Grant will increase or decrease based upon the Company’s three-year average Sales Growth, and twenty percent (20%) of the
Target Grant will increase or decrease based upon the Company’s three-year average relative “Total Shareholder Return” during the Performance Period, in accordance with this Exhibit A. 

Performance Share Metrics 

Sales Growth 
  

	•	 	 The Company calculates Sales Growth as follows: 

  

	 	•	 	 The Company defines sales growth in the same manner as for the Annual Bonus Plan except that acquisitions and divestitures are included in the annual
growth rate 

  

	 	•	 	 The payout is calculated as by averaging the Sales Growth percentage for each of the three years 

 

	•	 	 The company does not anticipate any other adjustments to this metric 

 Return on Equity (ROE) 
  

	•	 	 The Company calculates Return on Equity as follows: 

  

	 	•	 	 The numerator is current period net income as defined by US GAAP 

 

	 	•	 	 The denominator is defined as the current period’s yearly average of stockholders’ equity recognized in accordance with US GAAP

  

			
	 ROE =
	 	Net Income
	 	Average Stockholders’ Equity

  

	 	•	 	 This ratio is computed for each year in the three-year period and averaged to arrive at the metric. Each year’s average stockholders’ equity is
computed using a 13 month average 

  

	•	 	 The company does not anticipate any adjustments to this metric 

 Relative Total Shareholder Return 
  

	•	 	 Relative Total Shareholder Return compares the results of investing in SIAL vs other companies in our industry considering both the appreciation or
depreciation in share price as well as the value of dividends distributed during the time period 

  

	•	 	 The calculation uses the following: 

  

	 	•	 	 Dividends are treated as reinvested in company stock on the ex-dividend date 

 

	 	•	 	 Share price is calculated at the beginning and end of the period using the closing price averaged for each business day during the month of December
(December 2011 and December 2014) 

  

	 	•	 	 The relative comparison is done with the same comparator group as used for executive compensation, using companies in the peer group both at the beginning
and end of the period 

  

	 	•	 	 The Committee’s independent consultant will be used as the authority for this calculation

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