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                                                                   Exhibit 10.49

                                BIOGEN IDEC INC.

                             Proposed resolution for
                        Meeting of the Board of Directors

                                February 13, 2007

       Amendment of the Biogen Idec 2005 Omnibus Equity Plan (the "Plan")

RESOLVED:   That Section 8(a) of the Plan be, and it hereby is, amended and
            restated in its entirety, as follows:

            "(a) Price. At the time of the grant of shares of Restricted Stock,
            Restricted Stock Units or Performance Shares, the Committee shall
            determine the price, if any, to be paid by the Participant for each
            share of Restricted Stock, Restricted Stock Unit or Performance
            Share subject to the Award."<PAGE>

                                                                   Exhibit 10.57

                                BIOGEN IDEC INC.
                     2006 NON-EMPLOYEE DIRECTORS EQUITY PLAN

                                 First Amendment

      Pursuant to Section 17 of the Biogen Idec Inc. 2006 Non-Employee Directors
Equity Plan (the "Plan"), the following clarifying amendments are hereby made to
Section 7(d) of the Plan, effective as of the Plan's Effective Date:

      1. Section 7(d)(i) is amended to read in its entirety as follows: "In the
event that the Participant's Board service shall terminate on account of the
Retirement of the Participant, each Option granted to such Participant that is
outstanding as of the date of such termination shall become fully exercisable
and shall remain exercisable by the Participant (or, in the event of the
Participant's death while such Option is still outstanding, by the Participant's
legal representatives, heirs or legatees) for the three year period following
such termination (or for such other period as may be provided by the Committee),
but in no event following the expiration of its term."

      2. Section 7(d)(iii) is amended to read in its entirety as follows: "In
the event that the Participant's Board service shall terminate on account of the
Disability of the Participant, each Option granted to such Participant that is
outstanding as of the date of such termination shall become fully exercisable
and shall remain exercisable by the Participant (or such Participant's legal
representatives or, in the event of the Participant's death while such Option is
still outstanding, such Participant's legal representatives, heirs or legatees)
for the one year period following such termination (or for such other period as
may be provided by the Committee), but in no event following the expiration of
its term."

      3. Section 7(d)(vi) is amended to read in its entirety as follows: "In the
event of the Participant's death within six months following the Participant's
termination of Board service for any reason other than (A) Retirement, (B)
death, (C) Disability or (D) For Cause, each Option granted to such Participant
that is vested and outstanding as of the date of death shall remain exercisable
by such Participant's legal representatives, heirs or legatees for the one year
period following the date of death (or for such other period as may be provided
by the Committee), but in no event following the expiration of its term."

      IN WITNESS WHEREOF, Biogen Idec Inc. has caused this instrument of
amendment to be executed by its duly authorized officer this 11th day of October
2006.

                                 BIOGEN IDEC INC.

                                 By:  /s/ Craig E. Schneier
                                      ----------------------------------------
                                      Craig E. Schneier, Ph.D.
                                      Executive Vice President, Human ResourcesAMENDMENT NO. 2 TO SECURITIES PURCHASE AGREEMENT
	 

	 
		AMENDMENT NO. 2 (this “Amendment”), dated as of February
		20, 2007, to the Securities Purchase Agreement, dated as of November 26, 2006,
		by and among Scottish Re Group Limited, an exempted company limited by shares
		organized and existing under the laws of the Cayman Islands
		(“SRGL”), MassMutual Capital Partners LLC, a Delaware limited
		liability company (“MassMutual”), SRGL Acquisition LLC, a
		Delaware limited liability company (“Cerberus” and together
		with MassMutual, “Investors”), as amended by Amendment No. 1
		to the Securities Purchase Agreement, dated as of January 9, 2007
		(collectively, the “Agreement”).  Capitalized terms used
		herein and not otherwise defined herein have the respective meanings given in
		the Agreement.  
	 

	 
		W I T N E S S E
		T H
	 

	 
		WHEREAS, Cerberus has assigned its rights and obligations under the
		Agreement to SRGL Acquisition, LDC, a Cayman Islands limited duration company;
	 

	 
		WHEREAS, the parties desire to amend the Agreement in the manner set
		forth below.
	 

	 
		NOW, THEREFORE, in consideration of the representations, warranties,
		covenants and agreements contained in this Amendment, the parties agree as
		follows:
	 

	 
		ARTICLE I
	 

	 
		AMENDMENTS
	 

	 
		1.1
	 

	 
		Amendment to Section 1.1.  Section 1.1 of the Agreement is
		hereby amended by adding the following defined terms:
	 

	 
		“Actual Claims” means incurred claims relating to the
		Denver Block, net of external retrocession, as recorded on the general ledger
		of SRGL and its relevant Insurance Subsidiaries in accordance with GAAP
		consistently applied throughout the Mortality Measurement Period in accordance
		with the accounting policies, practices and methodologies of SRGL as in effect
		on December 31, 2006 (assuming consistency with GAAP on such date).  
	 

	 
		“Actual Deviation” means the present value (calculated
		using a 14% discount rate) determined as of the Closing Date, of Actual Claims
		less Expected Claims for each calendar quarter in the Mortality Measurement
		Period.
	 

	 
		“A/E Factor” means Actual Claims during the Mortality
		Measurement Period divided by Expected Claims for the Mortality Measurement
		Period.
	 

	 
		“Assumed Future Deviation” means the A/E Factor minus
		one, multiplied by the present value (calculated using a 14% discount rate) as
		of the Closing Date of projected claims for the Denver Block for all calendar
		quarters following the final calendar quarter of the Mortality Measurement
		Period, calculated in accordance
	 

	 
		
 

	 

	 
		

	 

	 
		

	 

	 
		

	 

	 
	 
		

	 

	 
		

	 

	 
		with the model previously provided to SRGL by Investors, as recalculated
		to reflect actual in-force business as of the time of such calculation.
	 

	 
		“Denver Block” means the individual life reinsurance
		business of SLD and SLDI reinsured by Subsidiaries of SRGL, as of December 31,
		2006, pursuant to the terms of that certain Asset Purchase Agreement, dated as
		of October 17, 2004, by and among SLD, SLDI, SRGL, Scottish Re (U.S.), Inc. and
		Scottish Re Life (Bermuda) Limited.  The specific individual life
		reinsurance business included in the Denver Block will be specified in a
		schedule to be delivered to the Investors within five business days from the
		date of this Amendment.  
	 

	 
		“Expected Claims” means the projected quarterly claims
		relating to the Denver Block, calculated using the assumptions previously
		provided to SRGL by Investors, as recalculated to reflect actual in-force
		business at the beginning of each calendar quarter.
	 

	 
		“Mortality Measurement Period” means the period from
		January 1, 2007 until the earlier of (x) December 31, 2009 and (y) the most
		recently ended calendar quarter prior to the conversion of the Convertible
		Shares.
	 

	 
		“SLD” means Security Life of Denver Insurance Company, a
		Colorado insurance company.
	 

	 
		“SLDI” means Security Life of Denver International
		Limited, a Bermuda insurance company.
	 

	 
		1.2
	 

	 
		Section 9.2 of the Agreement is hereby amended by deleting the phrase
		“together with the amount described in clause (y) below” in the
		second parenthetical phrase in clause (x) thereof and replacing it with the
		following:
	 

	 
		“together with the amounts described in clause (y) below and Section
		9.7”.
	 

	 
		1.3
	 

	 
		Section 9.4(a) of the Agreement is hereby amended in its entirety to read
		as follows:
	 

	 
		“Certain Limitations on Indemnification. (a) After the
		Closing, except with respect to Losses (x) arising out of inaccuracies
		in or breaches of the representations and warranties contained in the first
		sentence of Section 3.1 and Sections 3.2 and 3.4, (y) arising out of
		fraud, bad faith, intentional misrepresentation or intentional omission by
		SRGL, or (z) indemnified pursuant to Section 9.2(y) or Section 9.7, SRGL
		shall not be required to indemnify Investor Indemnitees for Losses under
		Section 9.2(x)(a) (i) until the aggregate amount of all such Losses
		exceeds 1% (or 2% only in the case of Losses arising out of inaccuracies in or
		breaches of the representations and warranties contained in Section 3.10)
		of the Aggregate Consideration (the “Threshold”), in which
		event SRGL shall be responsible for all Losses from the first dollar of such
		Losses, whether or not in excess of the Threshold or (ii) for Losses in
		the aggregate in excess of $100,000,000 (or $125,000,000 only in the case of
		Losses arising out of
	 

	 
		
 

	 

	 
		2
	 

	 
		

	 

	 
		

	 

	 
	 
		

	 

	 
		

	 

	 
		inaccuracies in or breaches of the representations and warranties
		contained in Section 3.10 and attributable or related to, or discovered in
		any currently notified or pending audit or Proceeding of any Governmental
		Entity, as the same may be expanded in scope following the date of this
		Agreement) (the “Cap”).”  
	 

	 
		1.4
	 

	 
		Article IX of the Agreement is hereby amended by adding the following
		text as new Section 9.7:
	 

	 
		SECTION 9.7.  Mortality Indemnification.  Not more than
		120 days after the end of the Mortality Measurement Period, Investors shall be
		entitled to bring a claim for indemnification pursuant to this Section 9.7, and
		SRGL shall indemnify Investors for any Losses determined pursuant to this
		Section 9.7 upon receipt of such claim and in accordance with Section 9.4(c).
		 If the A/E Factor for the Mortality Measurement Period is less than or
		equal to 1, there shall not have been a Loss pursuant to this Section 9.7.
		 If the A/E Factor during the Mortality Measurement Period is greater than
		1, the amount of the Loss (which, for purposes of the Convertible Shares
		Certificate of Designations, shall be considered a diminution in value of, or
		other loss to, SRGL; provided that the amount of Losses shall be determined by
		an independent actuarial firm of national reputation to be selected by the
		Independent Committee specified in Section 9.6) shall be the sum of Actual
		Deviation plus Assumed Future Deviation.  The maximum liability of SRGL
		under this Section 9.7 for such Losses in the aggregate shall be $68,500,000.
		 Investors shall only be entitled to make one claim for indemnification
		pursuant to this Section 9.7, and shall not otherwise be entitled to seek
		indemnification in respect of adverse mortality experience pursuant to any
		other provision of  Article IX to the extent that Investors have received
		indemnification for such Losses pursuant to this Section 9.7.  The
		foregoing indemnity, however, shall be in addition to, and not a limitation on,
		the other rights of indemnification provided in this Article IX.  
	 

	 
		ARTICLE II
	 

	 
		MISCELLANEOUS
	 

	 
		  2.1
	 

	 
		Effectiveness; Confirmation of Other Provisions.  This
		Amendment shall become effective as of the date hereof.  Except as
		modified hereunder, all other terms and provisions of the Agreement are hereby
		confirmed and ratified in all respects, and this Amendment shall be without
		prejudice to any other rights and remedies of SRGL or the Investors under the
		Agreement or the other Transaction Documents.  
	 

	 
		2.2
	 

	 
		Counterparts.  This Amendment may be executed in one or more
		counterparts, all of which will constitute one and the same instrument.
	 

	 
		2.3
	 

	 
		Governing Law.  This Amendment shall be governed by, and
		construed in accordance with, the Laws of the State of New York, without giving
		effect to its principles or rules of conflict of laws to the extent such
		principles or rules are not mandatorily applicable by statute and would require
		or permit the application of the laws of another jurisdiction.  
	 

	 
		
 

	 

	 
		3
	 

	 
		

	 

	 
		

	 

	 
	 
		

	 

	 
		

	 

	 
		[Signature page follows]
	 

	 
		
 

	 

	 
		4
	 

	 
		

	 

	 
		

	 

	 
	 
		

	 

	 
		

	 

	 
		IN WITNESS WHEREOF, the parties have caused this Amendment to be duly
		executed as of the date first above written.  
	 

	 		
	
			  

			 

		  	
			  

			 

		  
	
			  

			 

		  	
			  

			 

		  
	
			  

			 

		  	
			 
				SCOTTISH RE GROUP LIMITED
			 

		  
	
			  

			 

		  	
			  

			 

		  
	
			  

			 

		  	
			  

			 

		  
	
			  

			 

		  	
			 
				By: /s/ Paul Goldean
Name: Paul Goldean
 Title
				President and CEO
			 

		  
	
			  

			 

		  	
			  

			 

		  
	
			  

			 

		  	
			  

			 

		  
	
			  

			 

		  	
			 
				MASSMUTUAL CAPITAL PARTNERS LLC
			 

		  
	
			  

			 

		  	
			  

			 

		  
	
			  

			 

		  	
			  

			 

		  
	
			  

			 

		  	
			 
				By: /s/ Larry Port 
Name: Larry Port 
Title
				 Managing Director
			 

		  
	
			  

			 

		  	
			  

			 

		  
	
			  

			 

		  	
			  

			 

		  
	
			  

			 

		  	
			 
				SRGL ACQUISITION, LDC 
By:  Cerberus International, Ltd., as Director 
By:
				 Partridge Hill Overseas Management, LLC, its Investment Manager
			 

		  
	
			  

			 

		  	
			  

			 

		  
	
			  

			 

		  	
			  

			 

		  
	
			  

			 

		  	
			 
				By: /s/ Seth Plattus 
Name: Seth Plattus
Title
				 Managing Director

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