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Exhibit 4.8    
  

    ADMINISTRATIVE SERVICES AGREEMENT

between

PROTECTIVE LIFE SECURED

and

AMACAR PACIFIC CORP.

as Administrator

dated as of October 31, 2002  

  

 
 

TABLE OF CONTENTS    
  

	 
	 	 
	 	Page

	Section 1.	 	Definitions.	 	1
	

Section 2.	
 	
Administrative Services; Consultations with the Trust and each Trust Series.	
 	

1
	

Section 3.	
 	
Activities of the Trust and each Trust Series; Employees; Offices.	
 	

3
	

Section 4.	
 	
Compensation; Indemnities.	
 	

4
	

Section 5.	
 	
Term.	
 	

4
	

Section 6.	
 	
Obligation to Supply Information.	
 	

4
	

Section 7.	
 	
The Administrator's Liability, Standard of Care.	
 	

4
	

Section 8.	
 	
Limited Recourse to Trust and Each Trust Series.	
 	

5
	

Section 9.	
 	
No Recourse.	
 	

5
	

Section 10.	
 	
Reliance on Information Obtained from Third Parties.	
 	

5
	

Section 11.	
 	
Tax Returns.	
 	

5
	

Section 12.	
 	
Notices.	
 	

5
	

Section 13.	
 	
Amendment.	
 	

6
	

Section 14.	
 	
No Joint Venture.	
 	

6
	

Section 15.	
 	
Assignment.	
 	

6
	

Section 16.	
 	
GOVERNING LAW, CONSENT TO JURISDICTION; WAIVER OF JURY TRIAL.	
 	

7
	

Section 17.	
 	
Execution in Counterparts.	
 	

7
	

Section 18.	
 	
Series Characterization.	
 	

7
	

Section 19.	
 	
Limitation of Delaware Trustee Liability.	
 	

7
	

Section 20.	
 	
Section Headings.	
 	

8
	

Section 21.	
 	
Nonpetition Covenant.	
 	

8
	

Section 22.	
 	
Severability.	
 	

8
	

Section 23.	
 	
Entire Agreement.	
 	

8
	

Section 24.	
 	
Administrator to Provide Access to Books and Records.	
 	

8
	

Section 25.	
 	
No Waiver.	
 	

8
	

Section 26.	
 	
Remedies Cumulative.	
 	

8

i

   
        THIS ADMINISTRATIVE SERVICES AGREEMENT ("Agreement") dated as of October 31, 2002, is entered into between PROTECTIVE LIFE SECURED,
a statutory trust organized under the laws of the State of Delaware (the "Trust"), and AMACAR PACIFIC CORP., as administrator (in such capacity, the "Administrator"). 

W
I T N E S S E T H 

        WHEREAS,
the Trust may from time to time create a separate series of beneficial interests in the Trust (each a "Trust Series") in connection with the issuance of notes (the "Notes")
pursuant to the Trust's Senior Secured Medium-Term Note Program and InterNotes® Program with an aggregate size of U.S. $3,000,000,000 (collectively, the "Program"). Each series
of Notes issued by the Trust shall constitute a separate series of Notes under the Program (each a "Series of Notes") which may be secured by one or more Funding Agreements issued by Protective Life
Insurance Company, a Tennessee insurance company, or any successor thereto ("Protective Life"); 

        WHEREAS,
the Trust has requested that the Administrator provide advice and assistance to the Trust and perform various services for the Trust; and 

        WHEREAS,
the Trust desires to avail itself of the experience, advice and assistance of the Administrator and to have the Administrator perform various financial, statistical, accounting
and other services for the Trust and each Trust Series, and the Administrator is willing to furnish such services on the terms and conditions herein set forth. 

        NOW
THEREFORE, the parties hereto, intending to be legally bound and in consideration of the premises and the mutual covenants herein contained, agree as follows: 

        Section 1.    Definitions. 

        All
capitalized terms used herein and not otherwise defined will have the meanings set forth in the Indenture to be entered into between the Trust and The Bank of New York, as indenture
trustee (the "Indenture"). 

        Section 2.    Administrative Services; Consultations with the Trust and each Trust Series. 

        The
Trust hereby authorizes and empowers the Administrator, as its agent, to perform, and the Administrator hereby agrees to perform, the following services: 

        (a)  Subject
to the timely receipt of all necessary information, providing, or causing to be provided, all clerical, and bookkeeping services necessary and appropriate for
the Trust and each Trust Series, including, without limitation, the following services as well as those other services specified in the following subsections: 

	(1)
	maintenance
of all books and records of the Trust and each Trust Series relating to the fees, costs and expenses of the Trust and each Trust Series, which books and records shall be
maintained separately from those of the Administrator;

	(2)
	maintenance
of records of cash payments and disbursements (excluding principal and interest on the Funding Agreements) of the Trust and each Trust Series in accordance with generally
accepted accounting principles, and preparation for audit of such periodic financial statements as may be necessary or appropriate;

	(3)
	upon
request preparation for execution by the Trust, through a Responsible Officer, generally or with respect to any relevant Trust Series of amendments to and waivers under the
Program Documents and any other documents or instruments deliverable by the Trust generally or with respect to any relevant Trust Series thereunder or in connection therewith;

	(4)
	holding,
maintaining, and preserving executed copies of the Program Documents and other documents or instruments executed by the Trust generally or with respect to any relevant Trust 

1

 

Series
thereunder or in connection therewith, which shall be maintained separately from those of the Administrator; 

	(5)
	upon
receipt of notice, taking such action as may be reasonably necessary to enforce the performance by the other parties to agreements as to which the Trust is a party, and enforce
the
obligations of those parties to the Trust generally or with respect to any relevant Trust Series under such agreements;

	(6)
	upon
request preparing for a signature by a Responsible Officer such notices, consents, instructions and other communications that the Trust may from time to time be required or
permitted to give under the Program Documents to which the Trust is a party or any other document executed by the Trust generally or with respect to any relevant Trust Series;

	(7)
	obtaining
services of outside counsel, accountants and/or other service providers on behalf of the Trust generally or with respect to each Trust Series;

	(8)
	preparing
for a signature by a Responsible Officer any Trust Order for payment of any amounts due and owing by the Trust generally or with respect to any relevant Trust Series under
the Program Documents to which the Trust is a party or any other document to which the Trust is a party; provided that the foregoing shall not obligate
the Administrator to advance any of its own monies for such purpose, it being understood that such amounts shall be payable only to the extent assets of the Trust and/or assets held in any relevant
Trust Series are available therefor and at such times and in such amounts as shall be permitted by the Program Documents;

	(9)
	preparing
for a signature by a Responsible Officer any Trust Order for payment of any amounts due and owing by the Trust and/or any relevant Trust Series to the Indenture Trustee, the
Paying Agent, the Registrar and other agents on request for all expenses, disbursements and advances to the extent not paid pursuant to the Expense and Indemnity Agreement;  provided that the foregoing
shall not obligate the Administrator to advance any of its own monies for such purpose, it being understood that such
amounts shall be payable only to the extent assets of the Trust and/or any relevant Trust Series are available therefor and at such times and in such amounts as shall be permitted by the Program
Documents; and

	(10)
	taking
such other actions as may be incidental or reasonably necessary (i) to the accomplishment of the actions of the Administrator authorized in this subsection
(a) or (ii) upon receipt of notice from a Responsible Officer directing specifically the Administrator to do so, to the accomplishment of the duties and responsibilities, and compliance
with the obligations, of the Trust, generally or with respect to any relevant Trust Series, under the Program Documents and under any other document to which the Trust is or may be a party to the
extent not otherwise performed by the Indenture Trustee, Delaware Trustee, Paying Agent, Transfer Agent or Registrar, provided that no such duties or responsibilities shall materially enlarge the
duties and responsibilities of the Administrator which are set forth specifically in this Agreement. 

        (b)  Upon
the issuance of a Tranche of Notes, directing the Indenture Trustee to pay the costs and expenses of the Trust and/or Trust Series relating to such Tranche of Notes
to the extent not paid pursuant to the Expense and Indemnity Agreement. 

        (c)  Subject
to the timely receipt of all necessary information, requests, notices or direction from the Delaware Trustee, on behalf of the Trust, as the case may be,
(i) filing with the Commission and executing, in each case solely on behalf of the Trust and not in the Administrator's individual capacity, (A) a registration statement on
Form S-3 or other appropriate form, including the prospectus, the prospectus supplements and the exhibits included therein, any pricing supplement any pre-effective or
post-effective amendments thereto and any registration statements filed subsequent thereto under rules 

2

 

promulgated under the Securities Act, relating to the registration of the Notes, the Funding Agreements and any other securities under the Securities Act, (B) any preliminary prospectus,
prospectus, prospectus supplement or pricing supplement thereto relating to any Notes required to be filed pursuant to the Securities Act, and (C) registration statements and such other
documents, forms or filings as may be required by the Securities Act, the Securities Exchange Act, the Trust Indenture Act, or other securities laws in each case relating to any Notes; (ii) the
preparation and filing of any documents or forms required to be filed by any rules or regulations of any securities exchange, including without limitation, the New York Stock Exchange, or market
quotation dealer system or the National Association of Securities Dealers, Inc. in connection with the listing of a Series of Notes thereon; (iii) filing and executing solely on behalf
of the Trust and not in the Administrator's individual capacity, such filings, applications, reports, surety bonds, irrevocable consents, appointments of attorney for service of process and other
papers and documents as may be necessary or desirable to register, or establish the exemption from registration of, any Notes under the securities or "Blue Sky" laws of any relevant jurisdictions; and
(iv) executing and delivering, solely on behalf of the Trust and not in the Administrator's individual capacity, letters or documents to, or instruments for filing with, a depositary relating
to any Notes; and 

        (d)  Undertaking
such other administrative services as may be reasonably requested by the Delaware Trustee, including (i) causing the preparation by the Trust of any
prospectus, prospectus supplement, pricing supplement, registration statement, amendments, including any exhibits and schedules thereto, any reports or other filings or documents, or supplement
thereto or (ii) securing and maintaining the listing of the Notes on any securities exchange or complying with the securities or "Blue Sky" laws of any relevant jurisdictions, in connection
with the performance by the Trust generally or with respect to any relevant Trust Series of its obligations under the Program Documents or any other document to which the Trust is a party or other
documents executed thereunder or in connection therewith. 

        (e)  In
connection with the establishment of each Trust Series, the Administrator shall purchase from the Trust, all Trust Series Beneficial Interests in such Trust Series in
accordance with the Trust Agreement and the Administrator shall be the sole Trust Series Beneficial Owner in accordance with the Trust Agreement. 

        Any
of the above services (other than those described in Sections 2(c) and 2(d)) may, if the Administrator or the Trust deems it necessary or desirable, be subcontracted by the
Administrator; provided that notice is given to the Trust generally or with respect to any relevant Trust Series of such subcontract and,
notwithstanding such subcontract, the Administrator shall remain responsible for performance of the services set forth above unless such services are subcontracted to accountants or legal counsel
selected with due care by the Administrator and reasonably satisfactory to the Trust and
in which case the Administrator shall not remain responsible for the performance of such services and the Administrator shall not, in any event, be responsible for the costs, fees or expenses in
connection therewith. 

        Section 3.    Activities of the Trust and each Trust Series; Employees; Offices. 

        The
Administrator agrees to carry out and perform the administrative activities (as set forth in Section 2 hereof) of the Trust generally or with respect to each relevant Trust
Series in the name and on behalf of the Trust generally or with respect to each relevant Trust Series as its agent. 

        All
services to be furnished by the Administrator under this Agreement may be furnished by an officer or employee of the Administrator, an officer or employee of any affiliate of the
Administrator, or any other person or agent designated or retained by it; provided that the Administrator shall remain ultimately responsible for the
provision of such services by an officer or employee of the Administrator or any of its affiliates or any other person or agent designated or retained by it, unless selected with due care and
reasonably satisfactory to the Trust in accordance with the last paragraph of Section 2. No 

3

 

director, officer or employee of the Administrator or any affiliate of the Administrator shall receive from the Trust a salary or other compensation. 

        The
Administrator agrees to provide its own office space, together with appropriate materials and any necessary support personnel, for the day to day activities (as set forth in
Section 2 hereof) of the Trust generally and with respect to each Trust Series to be carried out and performed by the Administrator, all for the compensation provided in Section 4
hereof. All services to be furnished by the Administrator under this Agreement shall be performed only from the Administrator's office in North Carolina. 

        Section 4.    Compensation; Indemnities. 

        The
Administrator will be entitled to payment of fees, reimbursement for, and indemnification with respect to, costs and expenses for services rendered hereunder to the extent provided
in the Expense and Indemnity Agreement and the Administrator will not be entitled to seek any payment from the Trust with respect to its services hereunder. 

        Section 5.    Term. 

        The
Administrator may terminate this Agreement upon at least 30 days' written notice to the Trust and Protective Life and the Trust may terminate this Agreement upon at least
30 days' notice to the Administrator (copies of any notice of termination shall also be sent to the Indenture Trustee). Such termination will not become effective until (i) the Trust
appoints a successor Administrator, (ii) the successor Administrator accepts such appointment and (iii) the Administrator has obtained the prior written confirmation of Moody's Investors
Service, Inc. ("Moody's") and Standard & Poor's Ratings Services ("S&P") that such action
will not result in a reduction or withdrawal of its then current ratings, if any, of the Program and/or the Notes as applicable. Upon such notice, the Administrator shall be paid all accrued and
unpaid amounts owed to the Administrator under the Expense and Indemnity Agreement. 

        Section 6.    Obligation to Supply Information. 

        The
Delaware Trustee shall forward to the Administrator such information (which is in the possession of the Trust) in connection with the Program Documents and this Agreement as the
Administrator may from time to time reasonably request in connection with the performance of its obligations hereunder. The Administrator will (i) hold and safely maintain all records, files,
Program Documents and other material of the Trust generally and with respect to each Trust Series and (ii) permit the Trust, the Delaware Trustee, and each of their respective officers,
directors, agents and consultants on reasonable notice at any time and from time to time during normal business hours to inspect, audit, check and make abstracts from the accounts, records,
correspondence, documents and other materials of the Trust generally and with respect to each Trust Series, as applicable, or relating to the provision of services and facilities under this Agreement. 

        Section 7.    The Administrator's Liability, Standard of Care. 

        The
Administrator assumes no liability for anything other than the services rendered by it pursuant to Sections 2, 3 and 11 hereof and neither the Administrator nor any of its directors,
officers, employees or affiliates shall be responsible for any action of the Trust, the Delaware Trustee or the officers or employees thereof taken outside the scope of Sections 2, 3 and 11 hereof and
without direction from the Administrator. Without limiting the generality of the foregoing, it is agreed that the Administrator assumes no liability with respect to any of the Trust's obligations and
obligations with respect to each Trust Series under the Program Documents. 

        The
Administrator shall not perform, endeavor to perform or agree to perform any act on behalf of the Trust and/or any Trust Series not specifically required or permitted under the
Program Documents. 

4

 

        The
Administrator shall perform its duties hereunder diligently, in conformity with the Trust's obligations and obligations with respect to each Trust Series under the Program Documents
and applicable laws and regulations and in accordance with the same standard of care exercised by a prudent person in connection with the performance of the same or similar duties and, in no event
with less care than the Administrator exercises or would exercise in connection with the same or similar obligations if those obligations were the direct obligations of the Administrator. 

        Section 8.    Limited Recourse to Trust and Each Trust Series. 

        Notwithstanding
anything to the contrary contained herein, all obligations of the Trust with respect to a particular Trust Series hereunder shall be payable by the Trust only on a
payment date of the applicable Series of Notes and only to the extent of funds available therefor under the Indenture and, to the extent such funds are not available or are insufficient for the
payment thereof, shall not constitute a claim against the Trust generally or any unrelated Trust Series to the extent of such unavailability or insufficiency until such time as the Collateral held in
the relevant Trust Series has produced proceeds sufficient to pay such prior deficiency. This Section 8 shall survive the termination of this Agreement. 

        Section 9.    No Recourse. 

        The
obligations of the Trust generally and with respect to any Trust Series hereunder are solely the obligations of the Trust and/or any Trust Series and no recourse shall be had with
respect to this Agreement or any of the obligations of the Trust generally or with respect to any Trust Series hereunder or for the payment of any fee or other amount payable hereunder or for any
claim based on, arising out of or relating to any provision of this Agreement against any trustee, employee, settlor, affiliate, agent or servant of the Trust and/or any Trust Series. This
Section 9 shall survive the termination of this Agreement. 

        Section 10.    Reliance on Information Obtained from Third Parties. 

        The
Trust recognizes that the accuracy and completeness of the records maintained and the information supplied by the Administrator hereunder is dependent upon the accuracy and
completeness of the information obtained by the Administrator from the parties to the Program Documents and other sources and the Administrator shall not be responsible for any inaccurate or
incomplete information so obtained or for any inaccurate or incomplete records maintained by the Administrator hereunder that may result therefrom. The Administrator shall have no duty to investigate
the accuracy or completeness of any information provided to it and shall be entitled to fully rely on all such information provided to it. 

        Section 11.    Tax Returns. 

        The
Administrator shall, or shall cause accountants retained by it, to prepare and file, consistent with the treatment of each Trust Series as a separate grantor trust, all federal,
state and local income tax and information returns and reports required to be filed with respect to the Trust, each Trust Series and the Notes related to each Trust Series under any applicable
federal, state or local tax statute or any rule or regulation under any of them. The Administrator shall keep copies of or cause copies to be kept of the tax information returns (including Internal
Revenue Service Form 1041) and reports prepared and filed and shall provide a copy of each such return and report to the Delaware Trustee. 

        Section 12.    Notices. 

        All
notices, demands, instructions and other communications required or permitted to be given to or made upon either party hereto shall be in writing (including by facsimile
transmission) and shall be personally delivered or sent by guaranteed overnight delivery or by facsimile transmission (to be followed by personal or guaranteed overnight delivery) and shall be deemed
to be given for purposes of this Agreement on the day that such writing is received by the intended recipient thereof in accordance 

5

 

with the provisions of this Section 12. Unless otherwise specified in a notice sent or delivered in accordance with the foregoing provisions of this Section, notices, demands, instructions and
other communications in writing shall be given to or made upon the respective parties thereto at their respective addresses (or their respective telecopy numbers) indicated below: 

The
Trust or any Trust Series: 

Protective
Life Secured

c/o Wilmington Trust Company

Rodney Square North

1100 North Market Street

Wilmington, DE 19890

Attention: Corporate Trust Administration

Facsimile: (302) 636-4140 

The
Administrator: 

AMACAR
Pacific Corp.

6525 Morrison Blvd., Suite 318

Charlotte, North Carolina 28211

Attention: Douglas K. Johnson

Facsimile: (704) 365-1632 

        Section 13.    Amendment. 

        No
waiver, alteration, modification, amendment or supplement of the terms of this Agreement shall be effective unless (i) accomplished by written instrument signed by the parties
hereto and (ii) at any time after the issuance of any Trust Securities and for so long as any Trust Securities remain outstanding, Moody's and S&P have confirmed in writing that such action
will not result in reduction or withdrawal of its then current ratings, if any, of the Program and/or the Notes as applicable. The Trust shall provide each of S&P and Moody's with a copy of each such
waiver, alteration, modification, amendment or supplement. Notwithstanding anything in this Section 13 to the contrary, no waiver, alteration, modification, amendment or supplement to the terms
of this Agreement shall be effective without the prior written consent of Protective Life. 

        Section 14.    No Joint Venture. 

        Nothing
contained in this Agreement shall constitute the Trust and the Administrator as members of any partnership, joint venture, association, syndicate or unincorporated business. 

        Section 15.    Assignment. 

        Except
as set forth in this Section 15, and subject to the rights of the Administrator to subcontract pursuant to Section 2 hereof, this Agreement may not be assigned by
either party without (i) the prior written consent of the other party and (ii) the prior written confirmation of Moody's and S&P that such action will not result in a reduction or
withdrawal of its then current ratings, if any, of the Program and/or the Notes, as applicable. Subject to the foregoing, this Agreement shall be binding upon and inure to the benefit of the parties
hereto and their respective successors and assigns. Any party's transfer or assignment in violation of this Section 15 shall be void as to the other party. 

6

   
        Section 16.    GOVERNING LAW, CONSENT TO JURISDICTION; WAIVER OF JURY TRIAL.    

        THIS
AGREEMENT SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK. EACH PARTY HERETO HEREBY SUBMITS TO THE NONEXCLUSIVE JURISDICTION OF THE UNITED
STATES DISTRICT COURT FOR THE SOUTHERN DISTRICT OF NEW YORK AND OF ANY NEW YORK STATE COURT SITTING IN NEW YORK CITY FOR PURPOSES OF ALL LEGAL PROCEEDING ARISING OUT OF OR RELATING TO THIS AGREEMENT
OR THE TRANSACTIONS CONTEMPLATED HEREBY. EACH PARTY HERETO IRREVOCABLY WAIVES, TO THE FULLEST EXTENT PERMITTED BY LAW, ANY OBJECTION WHICH IT MAY NOW OR HEREAFTER HAVE TO THE LAYING OF THE VENUE OF
ANY SUCH PROCEEDING BROUGHT IN SUCH A COURT AND ANY CLAIM THAT ANY SUCH PROCEEDING BROUGHT IN SUCH A COURT HAS BEEN BROUGHT IN AN INCONVENIENT FORUM. EACH PARTY HERETO HEREBY CONSENTS TO PROCESS BEING
SERVED IN ANY SUIT, ACTION OR PROCEEDING WITH RESPECT TO THIS AGREEMENT, OR ANY DOCUMENT DELIVERED PURSUANT HERETO BY THE MAILING OF A COPY THEREOF BY REGISTERED OR CERTIFIED MAIL, POSTAGE PREPAID,
RETURN RECEIPT REQUESTED, TO ITS RESPECTIVE ADDRESS SPECIFIED AT THE TIME FOR NOTICES UNDER THIS AGREEMENT OR TO ANY OTHER ADDRESS OF WHICH IT SHALL HAVE GIVEN WRITTEN NOTICE TO THE OTHER PARTIES. THE
FOREGOING SHALL NOT LIMIT THE ABILITY OF ANY PARTY HERETO TO BRING SUIT IN THE COURTS OF ANY OTHER JURISDICTION. 

        EACH
OF THE PARTIES HEREBY IRREVOCABLY WAIVES ANY AND ALL RIGHT TO A TRIAL BY JURY WITH RESPECT TO ANY LEGAL PROCEEDING ARISING OUT OF OR RELATING TO THIS AGREEMENT OR ANY TRANSACTION. 

        Section 17.    Execution in Counterparts.    

        This
Agreement may be executed in any number of counterparts and by different parties hereto on separate counterparts, each of which counterparts, when so executed and delivered, shall
be deemed to be an original and all of which counterparts, taken together, shall constitute one and the same Agreement. 

        Section 18.    Series Characterization.    

        The
Trust constitutes a statutory trust and is organized in series pursuant to Sections 3804 and 3806(b)(2) of the Delaware Statutory Trust Act (as defined in the Trust Agreement); as
such, separate and distinct records shall be maintained and the assets held in each Trust Series shall be held and accounted for separately from the other assets of the Trust and the assets held in
any other Trust Series; the debts, liabilities, obligations and expenses incurred, contracted for or otherwise existing with respect to each Trust Series shall be enforceable against the assets held
in such Trust Series only, and not against the assets of the Trust generally or the assets of any other Trust Series. The Administrator agrees, for U.S. federal, state and local income and franchise
tax purposes, to treat (i) each Trust Series as a separate grantor trust, (ii) the Notes related to a Trust Series as an ownership interest in such grantor trust and (iii) the
Funding Agreements as debt of Protective Life. The Administrator will not take any action that it knows could cause any Trust Series not to be treated as a grantor trust for U.S. federal income tax
purposes. 

        Section 19.    Limitation of Delaware Trustee Liability.    

        Notwithstanding
any provision hereof to the contrary, it is expressly understood and agreed by the parties that (a) this Agreement is executed and delivered by Wilmington Trust
Company, not individually or personally, but solely as Delaware Trustee, in the exercise of the powers and authority conferred and vested in it, pursuant to the Trust Agreement, (b) each of the
representations, undertakings and agreements herein made on the part of the Trust is made and intended not as personal representations, undertakings and agreements by the Delaware Trustee but is made
and 

7

 

intended for the purpose of binding only the Trust, (c) nothing herein contained shall be construed as creating any liability on the Delaware Trustee, individually or personally, to perform
any covenant either expressed or implied contained herein, all such liability, if any, being expressly waived by the parties hereto and by any person claiming by, through or under the parties hereto,
and (d) under no circumstances shall the Delaware Trustee be personally liable for the payment of any indebtedness or expenses of the Trust or be liable for the breach or failure of any
obligation, representation, warranty or covenant made or undertaken by the Trust under this Agreement or any other related documents. 

        Section 20.    Section Headings.    

        Section
headings used in this Agreement are for convenience only and shall not affect the construction of this Agreement. 

        Section 21.    Nonpetition Covenant.    

        Notwithstanding
any prior termination of this Agreement, the Administrator as such shall not acquiesce, petition or otherwise, directly or indirectly, invoke or cause the Trust to invoke
the process of any governmental authority for the purpose of commencing or sustaining a case against the Trust generally or with respect to any Trust Series under any Federal or state bankruptcy,
insolvency or similar law or appointing a receiver, liquidator, assignee, trustee, custodian, sequestrator or other similar official of the Trust and/or any Trust Series or any substantial part of its
property or ordering the winding up or liquidation of the affairs of the Trust and/or any Trust Series for one year and one day after last obligation of any Trust Series has been paid. 

        Section 22.    Severability.    

        In
case one or more of the provisions contained in this Agreement shall be or shall be deemed to be invalid, illegal or unenforceable in any respect, the validity, legality and
enforceability of the remaining provisions contained herein shall not in any way be affected or impaired thereby. If any provision of this Agreement shall be or shall be deemed to be illegal, invalid
or unenforceable under the applicable laws and regulations of one jurisdiction, such provision shall not thereby be rendered illegal, invalid or unenforceable in any other jurisdiction. 

        Section 23.    Entire Agreement.    

        This
Agreement constitutes the entire agreement between the parties hereto with respect to matters covered hereby and supersedes all prior agreements and understandings with respect to
such matters between the parties. 

        Section 24.    Administrator to Provide Access to Books and Records.    

        The
Administrator shall provide the Indenture Trustee with access to the books and records of the Trust and each Trust Series, without charge, but only (i) upon the reasonable
request of the Indenture Trustee (for which purpose one Business Day shall be deemed reasonable during the occurrence and continuation of a Default or an Event of Default), (ii) during normal
business hours, (iii) subject to the Administrator's normal security and confidentiality procedures and (iv) at offices designated by the Administrator. 

        Section 25.    No Waiver.    

        No
failure on the part of the parties hereto to exercise, and no delay in exercising, and no course of dealing with respect to, any right, power or privilege hereunder shall operate as a
waiver thereof, nor
shall any single or partial exercise thereof or the exercise of any other right, power or privilege operate as such a waiver. 

        Section 26.    Remedies Cumulative.    

        No
right, power or remedy of the parties hereunder shall be exclusive of any other right, power or remedy, but shall be cumulative and in addition to any other right, power or remedy
thereunder or now or hereafter existing by law or in equity. 

[Signature Page Follows]

8

 

        IN
WITNESS WHEREOF, the parties hereto have caused this Agreement to be executed as of the day and year first above written. 

	 	 	PROTECTIVE LIFE SECURED
	

 	
 	

By:	

Wilmington Trust Company, not in its

individual capacity, but solely as

Delaware Trustee
	

 	
 	

By:	

/s/  JANEL R. HAVRILLA      
 Name: Janel R. Havrilla

Title: Financial Services Officer
	

 	
 	

AMACAR PACIFIC CORP., in its individual capacity
	

 	
 	

By:	

/s/  DOUGLAS K. JOHNSON      
 Name: Douglas K. Johnson

Title: President

9

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Exhibit 4.8

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Exhibit 10.1    
  

 
 

EXPENSE AND INDEMNITY AGREEMENT    
  

October 31, 2002  

The Bank of New York

100 Church Street

8th Floor

New York, New York 10286 

Wilmington
Trust Company

Rodney Square North

1100 North Market Street

Wilmington, DE 19890 

AMACAR
Pacific Corp.

6525 Morrison Boulevard, Suite 318

Charlotte, North Carolina 28211 

Ladies
and Gentlemen: 

        Protective
Life Secured is a statutory trust organized under the laws of the State of Delaware (the "Trust"), pursuant to a Trust Agreement, between Wilmington Trust Company, as Delaware
trustee (the "Delaware Trustee") and AMACAR Pacific Corp., as administrator and trust series beneficial owner, dated October 31, 2002 (the "Trust Agreement"), to facilitate a program (the
"Program"), for the issuance to the public from time to time, of one or more series of notes (each a Series of "Notes"), pursuant to the Indenture (the "Indenture") to be entered into between the
Trust and The Bank of New York, as indenture trustee (the "Indenture Trustee"). Each Series of Notes are secured solely by assets relating to the relevant separate series of beneficial interests in
the Trust (each separate series of beneficial interests in the Trust is hereinafter referred to as a "Trust Series"). The proceeds from the sale of each Series of Notes are to be used to purchase one
or more Funding Agreements issued by Protective Life Insurance Company, a Tennessee stock life insurance company ("Protective Life"). The Trust has entered into an administrative services agreement
with AMACAR Pacific Corp., as administrator (the "Administrator"), dated October 31, 2002, whereby the Administrator has agreed to provide certain services of the Trust. Capitalized terms used
and not otherwise defined herein shall have the meanings assigned to them in the Indenture. 

        In
consideration of the Service Providers (as defined below) providing services to the Trust in connection with the Program and pursuant to the Program Documents under which the Service
Providers have certain duties and obligations, Protective Life hereby agrees to the following compensation arrangements and terms of indemnity. 

        1.    The
following terms, as used herein, have the following meanings: 

        "Excluded
Amounts" means (i) any obligation of the Trust to make any payment to any Holder in accordance with the terms of the Indenture or the Notes, (ii) any obligation
or expense of the Trust to the extent that such obligation or expense has actually been paid utilizing funds available to the Trust from payments under a Funding Agreement, (iii) any cost,
loss, damage, claim, action, suit, expense, disbursement, tax, penalty or liability of any kind or nature whatsoever resulting from or relating to any insurance regulatory or other governmental
authority asserting that: (a) the Notes are, or are deemed to be, (1) participations in one or more Funding Agreements or (2) contracts of insurance, or (b) the offer,
purchase, sale and/or transfer of the Notes and/or assignment of the Funding Agreements (1) constitute the conduct of the business of insurance or reinsurance in any jurisdiction or
(2) requires the Trust or any Holder to be licensed as an insurer, insurance agent or broker in any jurisdiction, 

 

(iv) any cost, loss, damage, claim, action, suit, expense, disbursement, tax, penalty or liability of any kind or nature whatsoever imposed on a Service Provider that results from the bad
faith or gross negligence of such Service Provider, (v) any costs and expenses attributable solely to a Service Provider's administrative overhead unrelated to the Program, (vi) any tax
imposed on fees paid to a Service Provider, (vii) any withholding taxes imposed on or with respect of payments made under any Funding Agreement, the Indenture or any Note and (viii) any
Additional Amounts paid to any Holder. 

        "Fees"
means with respect to each Service Provider the fees agreed to between Protective Life and the Service Provider as set forth in the fee schedule attached hereto as
Exhibit A or in a separate fee agreement between Protective Life and such Service Provider or, in relation to any Service Provider which signs a Service Provider
Fee Letter, the fee schedule attached to such letter. 

        "Indemnified
Person" means any person entitled to indemnity payments pursuant to Section 5 or Annex A, B or C. 

        "Obligation"
means any and all (i) reasonable costs and expenses reasonably incurred (including the reasonable fees and expenses of counsel), relating to the offering, sale and
issuance of the Notes by the Trust and (ii) costs, expenses and taxes of the Trust or any Trust Series; provided that Obligations do not include Excluded Amounts. 

        "Service
Provider" means each of the Delaware Trustee, the Indenture Trustee, the Administrator and any other party which becomes a party to this Agreement pursuant to a Service Provider
Fee Letter pursuant to Section 9 of this Agreement (such other Service Provider, a "Future Service Provider"). 

        "Service
Provider Fee Letter" is defined in Section 9 of this Agreement. 

        2.    Protective
Life hereby agrees to pay each Service Provider its Fees. In the event of a substantive change in the nature of a Service Provider's duties, agreed to by such
Service Provider, such Service Provider reserves the right to negotiate an adjustment to its Fees with Protective Life. 

        3.    In
the event that any Service Provider resigns or its appointment is revoked pursuant to any of the Program Documents under which the Service Provider has duties or
obligations, the Service Provider will repay to Protective Life such part of any fee paid to it as may be agreed between the relevant Service Provider and Protective Life. 

        4.    In
the event that a Service Provider or the Trust delivers written notice and evidence, reasonably satisfactory to Protective Life, of any Obligation of the Service
Provider or the Trust or any Trust Series, Protective Life shall, upon receipt of such notice promptly pay such Obligation. Notice of any
Obligation (including any invoices) should be sent to Protective Life at its address set forth below, or at such other address as such party shall hereafter furnish in writing: 

Protective
Life Insurance Company

111 N. First St. Suite 209

Burbank, CA 91502

Attention: Judy Wilson

Telephone: 818-729-1900

Telecopier: 818-729-1800 

        Each
Service Provider or the Trust, as appropriate, will (i) from time to time execute all such instruments and other agreements and take all such other actions as may be
necessary or desirable, or that Protective Life may reasonably request, to protect any interest of Protective Life with respect to any Obligation or to enable Protective Life to exercise or enforce
any right, interest or remedy it may have with respect to any such Obligation, and (ii) release to Protective Life any amount received from Protective Life relating to any Obligation or any
portion of any Obligation, immediately after any such 

2

 

amount relating to such Obligation, or any portion of any such Obligation, is otherwise received by the relevant Service Provider or the Trust from a party other than Protective Life. 

        Protective
Life, the Trust and the Service Providers hereby agree that all payments due under this Agreement in respect of any Obligation shall be effected, and any responsibility of
Protective Life to pay such Obligation pursuant to this Agreement shall be discharged, by the payment by Protective Life to the account of the person to whom such Obligation is owed. 

        5.    Subject
to the remaining paragraphs of this Section 5, Protective Life hereby agrees to indemnify, and to hold harmless, to the full extent permitted by law, the
Trust, any Trust Series and any Future Service Provider, including its officers, directors, successors, assigns, legal representatives and servants, who was or is a party or is threatened to be made a
party to any threatened, pending or completed action, suit or proceeding relating to or arising out of the performance or non-performance by the Indemnified Person of its duties or
fulfillment of its obligations under the Program Documents or any other agreement relating to the Program to which the Trust and the relevant Service Provider are or become a party, whether civil,
criminal administrative or investigative (other than an action by or in the right of the Trust or on behalf of a Trust Series), against losses, out-of-pocket costs and expenses
(including, without limitation, interest and reasonable attorneys' fees and expenses), liabilities (including liabilities for penalties), judgments, damages and fines incurred by such party in
connection with the defense or settlement of such action, suit or proceeding, except where any such claim for indemnification is or relates to any Excluded Amount. Subject to the remaining paragraphs
of this Section 5, The Bank of New York, Wilmington Trust Company and AMACAR Pacific Corp. and their respective officers, directors, successors, assigns, legal representatives, agents and
servants will be indemnified by Protective Life to the extent provided in Annex A, B and C, respectively. The indemnity provisions set forth in Annex A, B and C are incorporated into this
Section 5. 

        The
indemnification provided for herein supersedes in all respects any indemnification provision contained in any other Program Document or any other agreement relating to the Program to
which the Trust and the relevant Service Provider are or become parties. 

        An
Indemnified Person shall give prompt written notice to Protective Life of any action, suit or proceeding commenced or threatened against the Indemnified Person. In case any such
action, suit or proceeding shall be brought involving an Indemnified Person, Protective Life may, in its sole discretion, elect to assume the defense of the Indemnified Person, and if it so elects,
Protective Life shall, in consultation with such Indemnified Person, select counsel, reasonably acceptable to the Indemnified Person, to represent the Indemnified Person and pay the reasonable fees
and expenses of such counsel; provided, that if the Indenture Trustee is the Indemnified Person, such counsel shall be on the Indenture Trustee's approved counsel list. In any such action,
investigation or proceeding, the Indemnified Person shall have the right to retain its own counsel but Protective Life shall not be obligated to pay the fees and disbursements of such counsel unless
(i) Protective Life and the Indemnified Person shall have mutually agreed to the retention of such counsel or (ii) the named parties to any such action, investigation or proceeding
(including any impleaded parties) include (a) both Protective Life and the Indemnified Person or (b) two or more Indemnified Persons affiliated with different Service Providers and, in
each case, representation of both parties by the same counsel would be inappropriate due to actual or potential differing interests between them. It is understood that Protective Life shall not, in
connection with any proceeding or related proceeding in the same jurisdiction, be liable for the fees and expenses of more than one separate firm (in addition to any local counsel) for all Indemnified
Persons who are affiliated with one Service Provider. 

        If
the indemnification provided for herein is invalid or unenforceable in accordance with its terms, then Protective Life shall contribute to the amount paid or payable by an Indemnified
Person as a result of such liability in such proportion as is appropriate to reflect the relative benefits received by Protective Life and the Trust, (if the Trust is not an Indemnified Person), on
one hand, and the 

3

 

relevant Service Provider or the Trust (if the Trust is an Indemnified Person) on the other hand, from the transactions contemplated by the Program Documents. For this purpose, the benefits received
by Protective Life or the Trust (if applicable) shall be the aggregate value of the relevant Collateral, and the benefits received by the relevant Service Provider shall be the fees it has been paid
up to that point as the Service Provider less costs and unreimbursed expenses incurred by it as Service Provider in relation to such Collateral, and the benefits received by the Trust (if applicable)
shall be determined by the Administrator (and in the event that the Administrator is an Indemnified Party, the Trust and not the Administrator shall make such determination) and Protective Life. If,
however, the allocation provided by the immediately preceding two sentences is not permitted by applicable law, then Protective Life shall contribute to such amount paid or payable by the Indemnified
Person in such proportion as is appropriate to reflect not only such relative benefits but also the relative fault of Protective Life and the Trust (if applicable), on the one hand, and the relevant
Service Provider or the Trust (if applicable) on the other hand, in connection with the actions or omissions which resulted in such liability, as well as any other relevant equitable considerations. 

        Protective
Life shall be subrogated to any right of the Indemnified Person in respect of the matter as to which any indemnity was paid hereunder. 

        The
Indemnified Person may not settle any action, investigation or proceeding without the consent of Protective Life, not to be unreasonably withheld. 

        Notwithstanding
any provision contained herein to the contrary, the obligations of Protective Life under this Section 5 to any Indemnified Person shall survive the termination of
this Agreement pursuant to Section 10. 

        6.    No
waiver, modification or amendment of this Agreement shall be valid unless executed in writing by the parties hereto. 

        7.    This
Agreement may be executed in counterparts (including by facsimile transmission), each of which when so executed and delivered shall be deemed an original, but all of
such contracts shall together constitute one and the same document. 

        8.    This
Agreement shall be governed by and construed in accordance with the laws of the New York, without regard to conflicts of laws principles. 

        9.    In
addition to the Service Providers listed in this Agreement, Protective Life and the Trust may from time to time appoint new service providers either in respect of the
Program generally or in relation to a particular Trust Series or Series of Notes only; in which event, upon execution by such service provider of a fee letter (the "Service Provider Fee Letter")
substantially in the form of Exhibit B hereto, such service provider shall become a party hereto, subject as provided below, with all the authority, rights, powers,
duties and obligations of a Service Provider as if originally named as Service Provider hereunder; provided further that, in the case of a service provider which has become a Service Provider in
relation to a particular Series of Notes, following the issuance of the Series of Notes, such new Service Provider shall have no further authority, rights, powers, duties or obligations except such as
may have accrued or been incurred prior to, or in connection with, the issuance of such Series of Notes. Protective Life agrees that it will pay the fees of any new Service Provider in accordance with
a fee schedule to be agreed upon between Protective Life and the relevant Service Provider attached to the Service Provider Fee Letter. 

        10.  This
Agreement shall be effective as to each Service Provider named on the signature page hereto or the date entered below the signature of such Service Provider
thereon. 

        11.  This
Agreement shall terminate and be of no further force and effect upon the date on which (i) there is no Obligation due and payable under this Agreement and
(ii) each Program Document has terminated; provided, however, that this Agreement shall continue to be effective or shall be reinstated, 

4

 

as the case may be, if at any time any Service Provider must restore payment of any sums paid under any Obligation or under this Agreement for any reason whatsoever. This Agreement is continuing,
irrevocable, unconditional and absolute. 

[SIGNATURE
PAGE FOLLOWS] 

5

 

        If
the foregoing correctly sets forth the understanding and agreement between Protective Life, the Trust and the Service Providers please so indicate by signing in the space provided for
below. 

	 	 	Very truly yours,
	

 	
 	
PROTECTIVE LIFE INSURANCE COMPANY
	

 	
 	
By:	

/s/  JUDY WILSON      
 Name: Judy Wilson

Title: Senior Vice President

AGREED
AND ACCEPTED: 

	
PROTECTIVE LIFE SECURED,

by AMACAR Pacific Corp.,

as Administrator and

not in its individual capacity	

 
	
By:	

/s/  DOUGLAS K. JOHNSON      
 Name: Douglas K. Johnson

Title: President	

 
	

Date: October 31, 2002	

 
	
THE BANK OF NEW YORK	

 
	
By:	

/s/  ANDRES SERRANO      
 Name: Andres Serrano

Title: Vice President	

 
	

Date: October 31, 2002	

 
	
WILMINGTON TRUST COMPANY—

not in its individual capacity,

but solely as Delaware Trustee	

 
	
By:	

/s/  JANEL R. HAVRILLA      
 Name:  Janel R. Havrilla

Title:    Financial Services Officer	

 
	

Date: October 31, 2002	

 

6

 

	
AMACAR PACIFIC CORP.	

 
	
By:	

/s/  DOUGLAS K. JOHNSON      
 Name: Douglas K. Johnson

Title: President	

 
	

Date: October 31, 2002	

 

7

 
 
 

EXHIBIT A    
  

	1.
	The
Bank of New York, in its capacity as Indenture Trustee, Registrar, Paying Agent and Transfer Agent shall be entitled to receive the following fees at the times set forth below:

	2.
	Wilmington
Trust Company as Delaware Trustee shall be entitled to receive the following fees at the times set forth below:

	3.
	AMACAR
Pacific Corp. as Administrator shall be entitled to receive the following fees at the times set forth below:

	(a)
	Upon
the execution of this Agreement, a one time, upfront establishment fee of $15,000.

	(b)
	An
administrative fee of $25,000 payable annually, in advance, commencing on November 1, 2002, until all Notes issued by the Trust are fully paid. 

	4.
	AMACAR
Pacific Corp. as Trust Series Beneficial Owner shall be entitled to receive the following fees at the times set forth below: 
	(a)
	Upon
the organization of a Trust Series pursuant to the Trust Agreement, a one time, upfront establishment fee of $100. 

8

 

 
 

EXHIBIT B    
  

[New
Service Provider]

[Address] 

Dear
Sirs, 

Protective
Life Secured

U.S.$                       

Senior Secured Note Program (the "Program") 

        We
refer to the [                        ] Agreement entered into between [Protective Life Secured and yourselves],
appointing you as a Service Provider [but only in respect of [specify Series of Notes (the "Series of Notes")*] in
respect of the above Program. We further refer to the Expense and Indemnity Agreement, dated            , entered into in respect of the above Program (such agreement, as modified or amended
from
time to time, the "Expense and Indemnity Agreement") between Protective Life Insurance Company, Protective Life Secured and each of the Service Providers, governing the
compensation arrangements, expense reimbursement and terms of indemnity between Protective Life Insurance Company and each of Protective Life Secured and the Service Providers. By signing this letter
you will become party to the Expense and Indemnity Agreement for all purposes, with, all the authority, rights, powers, duties and obligations of a Service Provider under the Expense and Indemnity
Agreement [except that, following the issuance of the Series of Notes, you shall have no further authority, rights, powers, duties or obligations except such as may have accrued or been
incurred prior to, or in connection with, the issuance of the Series of Notes]*. Please return to us a copy of this letter signed by an authorized signatory. For the purposes
of your Fees, you will be compensated in accordance with the fee schedule as set forth in Schedule I to this letter.1 

	*
	Insert
only where the new Service Provider is being appointed only in relation to a particular series.

	1
	Attach
the relevant fee schedule agreed upon between Protective Life Insurance Company, and the new Service Provider. 

9

 

This
letter is governed by, and shall be construed in accordance with, the laws of the State of New York. Capitalized terms used and not otherwise defined in this letter shall have the meanings
assigned to them in the Expense and Indemnity Agreement. 

	 	 	Yours faithfully,
	

 	
 	
PROTECTIVE LIFE INSURANCE COMPANY
	

 	
 	
By:	

 Name:

Title:

AGREED
AND ACCEPTED: 

[SERVICE PROVIDER]  

	
By:	

 Name:

Title:

	

 

10

 
 
 

ANNEX A    
  

        Protective
Life covenants to fully indemnify and defend The Bank of New York and its officers, directors, employees, controlling Persons, agents and representatives for, and to hold it
harmless against, any and all loss, liability, claim, damage or reasonable expense (including the reasonable compensation, expenses and disbursements of its counsel) (i) arising out of or in
connection with the acceptance by The Bank of New York, in its capacity as Indenture Trustee or as an Agent, of administration of the Indenture or the trusts thereunder and/or the performance of its
duties and/or the exercise of its respective rights thereunder, including the costs and expenses of defending itself against or investigating any claim of liability in the premises, except to the
extent such loss, liability, claim, damage or expense is due to the Indenture Trustee's or such Agent's own negligence or willful misconduct and (ii) in connection with the imposition of any
stamp, issue, registration, documentary or other similar taxes and duties, including interest and penalties in respect of the creation, issue and offering of the Notes, except to the extent any such
loss, liability or expense is caused by the Indenture Trustee's or such Agent's negligence or willful misconduct. Notwithstanding anything to the contrary, Protective Life shall have no obligation to
indemnify or defend The Bank of New York for any loss, liability, claim, damage or expense relating to (i) any costs and expenses attributable solely to the Indenture Trustee's or such Agent's
administrative overhead unrelated to the Program or (ii) any tax imposed on the fees paid to the Indenture Trustee or any Agent. 

11

 
 
 

ANNEX B    
  

        To
the fullest extent permitted by law and notwithstanding anything to the contrary, Protective Life hereby agrees, whether or not any of the transactions contemplated by the Trust
Agreement will be consummated, to assume liability for and hereby indemnifies, protects, saves and keeps harmless Wilmington Trust Company and its officers, directors, successors, assigns, legal
representatives, agents and servants (each a "Wilmington Indemnified Person"), from and against any and all liabilities, obligations, losses, damages, penalties, taxes,
claims, actions, investigations, proceedings, costs, expenses or disbursements (including reasonable legal fees and expenses) of any kind and nature whatsoever which may be imposed on, incurred by or
asserted at any time against a Wilmington Indemnified Person in any way relating to or arising out of the Trust Agreement or any other Program Document or the enforcement of any of the terms of
thereof, the administration of the Trust and its property or the action or inaction of Wilmington Trust Company (in its capacity as Delaware Trustee) under the Trust Agreement, except, in any such
case to the extent that any such liabilities, obligations, losses, damages, penalties, taxes, claims, actions, investigations, proceedings, costs, expenses and disbursements (i) are the result
of any of the matters described in the third sentence of Section 7.04 of the Trust Agreement or (ii) relate to (a) any costs and expenses attributable
solely to the Delaware Trustee's administrative overhead unrelated to the Program or (ii) any tax imposed on the fees paid to the Delaware Trustee. 

12

 
 
 

ANNEX C    
  

        To
the fullest extent permitted by law and notwithstanding anything to the contrary, Protective Life hereby agrees, whether or not any of the transactions contemplated by the Trust
Agreement will be consummated, to assume liability for and hereby indemnifies, protects, saves and keeps harmless the Administrator and its officers, directors, successors, assigns, legal
representatives, agents and servants (each an "AMACAR Indemnified Person"), from and against any and all liabilities, obligations, losses, damages, penalties, taxes, claims, actions, investigations,
proceedings, costs, expenses or disbursements (including reasonable legal fees and expenses) of any kind and nature whatsoever which may be imposed on, incurred by or asserted at any time against an
AMACAR Indemnified Person in any way relating to or arising out of the Administrative Services Agreement or the Trust Agreement or the enforcement of any of the terms thereof, the administration of
the Trust or the action or inaction of the Administrator under the Administrative Services Agreement, except, in any such case to the extent that any such liabilities, obligations, losses, damages,
penalties, taxes, claims, actions, investigations, proceedings, costs, expenses and disbursements (i) results from the bad faith or gross negligence of an AMACAR Indemnified Person (or ordinary
negligence in the handling or disbursement of funds) or (ii) relate to (a) any costs and expenses attributable solely to the Administrator's administrative overhead unrelated to the
Program or (ii) any tax imposed on the fees paid to the Administrator. 

13

QuickLinks

Exhibit 10.1

EXPENSE AND INDEMNITY AGREEMENT

EXHIBIT A

EXHIBIT B

ANNEX A

ANNEX B

ANNEX C

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