Document:

Amended and Restated 2010-2011 Long Term Incentive Plan

 Exhibit 10.45 
 AMENDED AND RESTATED 
 2010-2011 LONG TERM INCENTIVE PLAN FOR EMPLOYEES OF
ALICO 
 (effective November 1, 2010) 
 This 2010-2011 Long Term Incentive Plan for Employees of American Life Insurance Company (“ALICO”) (this “Plan”) is effective as amended and restated as of November 1, 2010, and
was originally effective (under the name, “American International Group, Inc. 2010-2011 Long Term Incentive Plan for Employees of American Life Insurance Company”) as of March 29, 2010. The obligations and liabilities under this Plan
are obligations and liabilities of ALICO and not obligations or liabilities of MetLife, Inc. or any affiliate of MetLife, Inc. other than ALICO. 
 The purpose of this Plan is to provide certain key employees of ALICO (the “Company”), an affiliate of MetLife, Inc. (together with its affiliates), “MetLife”), with an incentive and
reward for contributions to the growth and profitability of the Company and with recognition of and incentive for their contributions to the sale of ALICO by ALICO Holdings LLC, and the sale of Delaware American Life Insurance Company by American
International Group, Inc. (“AIG”), each to MetLife, Inc. (the “ALICO Transaction”). 
  

	SECTION 1	Participation 

 1.1.
Participants. Each employee of the Company or one of its affiliates who was selected prior to November 1, 2010 to participate by the Compensation and Management Resources Committee (“the CMRC”) of the Board of Directors of AIG
(including any successor to that committee, or person or persons who were designated by the CMRC to administer the Plan from time to time until November 1, 2010, the “CMRC” or “Committee”), as evidenced by the receipt by
such individual of an award letter detailing an award issued under this Plan (an “Award”) (the “Award Letter”) from the CMRC, will be a “Participant” in this Plan. 

 

	SECTION 2	Awards 

 2.1.
Performance Awards. A Participant’s Award Letter will set forth a cash award opportunity (the “Cash Target”) for the Participant, as was established prior to November 1, 2010 by the CMRC. 

2.2. Performance Measures. The prescribed metrics, along with the performance measures and percentages of value attributable to
each such metric, by which award values will be determined, are set forth on the Annex to this Plan (the “Performance Measures”), as well as a threshold level of performance (“Threshold”) and a maximum level of performance
(“Maximum”). 
 2.3. Measurement Period. The period during which the performance of the Company will be
measured (the “Performance Period”) in respect of the Performance Measurements will be the period beginning on January 1, 2010 and ending on December 31, 2011. 

 2.4. Earned Cash Awards. At the end of the Performance Period, the officer of
MetLife, Inc. in charge of Human Resources or that officer’s written designee (the “Administrator”) will measure performance against the Performance Measures and determine the amount of cash earned for the Performance Period (the
“Earned Cash Award”). Subject to the terms and conditions of this Plan and unless determined otherwise by the Administrator, the Earned Cash Award will be determined as follows, provided that in no event may the Earned Cash Award
exceed two times the Cash Target: 
  

					
	Performance	  	Percentage of Cash
Target Earned	 
		
	 Performance less than Threshold
	  	 	0	% 
		
	 Performance at Threshold
	  	 	50	% 
		
	 Performance between Threshold and Maximum
	  	 
 	Greater than 50% -
Less than 200	  
% 
		
	 Performance at or above Maximum
	  	 	200	% 

 The percentage of the Cash Target that will be awarded if performance is between Threshold and Maximum
will be proportionate to the amount by which performance exceeds Threshold. 
 2.5. Vesting of Earned Cash Awards. Except
as provided in Section 3, and subject to the other terms and conditions of this Plan and the applicable Award Letter, Earned Cash Awards shall vest according to the following schedule: 33 1/3% of the Earned Cash Award shall vest on
January 1, 2012, 33 1/3% of the Earned Cash Award shall vest on January 1, 2013 and the remaining 33 1/3% of the Earned Cash Award shall vest on January 1, 2014 (each, a “Scheduled Vesting Date”). 

2.6. Payment of Earned Cash Awards. Except as provided in Section 3, Participants will receive payment in respect of any
Earned Cash Award, or part thereof, as promptly as administratively practicable following the applicable Scheduled Vesting Date (each such date of payment, a “Payment Date”), provided that any payment following the first Scheduled
Vesting Date shall be made as promptly as administratively practicable following the determination of Earned Cash Awards by the Administrator, but no later than April 30, 2012 and payment following the subsequent Scheduled Vesting Dates shall
be made within 30 days following the applicable Scheduled Vesting Date. Subject to Section 3, a Participant must be an Active Employee (as defined below) on the applicable Scheduled Vesting Date in order to be entitled to receive a payment of a
portion of an Earned Cash Award. 
  

	SECTION 3	Employment Requirement; Death 

 3.1. Continuous Employment Through Payment Date. Except as otherwise expressly provided herein and in Section 3.2, a Participant will not be entitled to receive payment of an Award, and will
forfeit all rights with respect to any unpaid portion of an Award, if for any reason the Participant is not an Active Employee of MetLife on the relevant Payment Date, other than in cases of death, Disability, or involuntary termination without
Cause. The Administrator however, shall be able, in its sole discretion, to reinstate an Award that has terminated or otherwise been forfeited. Solely for purposes of 

  
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this Plan, an “Active Employee” shall mean an employee (i) who is actively performing services for MetLife, (ii) who is on an MetLife-approved leave of absence, whether paid
or unpaid, or (iii) is in receipt of long-term disability benefits, in each case while in good standing with MetLife. 
  

	 	A.	In the event that a Participant has been involuntarily terminated by MetLife without Cause or incurs a long-term Disability during the Performance Period, the
Participant shall receive payment of an Award in accordance with Section 3.1.B, unless, in its sole discretion, the Administrator affirmatively determines that an Award shall not be paid to the Participant. For the avoidance of doubt, an
involuntary termination as provided in this clause A shall not include a resignation that a Participant may assert was a constructive dismissal. 

  

	 	B.	If the Administrator determines to pay an Award in the circumstances set forth in Section 3.1.A, the amount will be determined by the Administrator (based on
actual performance through the end of the applicable performance period) on a pro rata basis calculated by multiplying the amount by a fraction, the numerator of which is the number of days elapsed in the 2010-2011 Performance Period from 1/1/10
through the last date that the Participant was actively performing services for MetLife or on short-term disability leave (including parental leave), and the denominator of which is the total number of days in the 2010-2011 Performance Period. Such
amount shall be paid to such Participant by the earlier of (i) within two and one-half months after the end of the calendar year in which the Participant is involuntarily terminated by MetLife without Cause or incurs a long-term Disability, as
applicable or (ii) to the extent some amount is payable earlier, the scheduled payment date with respect to such amount. 

  

	 	C.	If the Participant is involuntarily terminated without Cause or incurs a long-term Disability after the completion of the Performance Period, the Earned Cash Award
shall not be prorated but shall be fully paid, and shall immediately vest and be paid as provided in the last sentence of Section 3.1.B. 

  

	 	D.	For these purposes, the term “Cause” will mean (i) a Participant’s conviction, whether following trial or by plea of guilty or nolo
contendere (or similar plea), in a criminal proceeding (A) on a misdemeanor charge involving fraud, false statements or misleading omissions, wrongful taking, embezzlement, bribery, forgery, counterfeiting or extortion, or (B) on a
felony charge or (C) on an equivalent charge to those in clauses (A) and (B) in jurisdictions which do not use those designations; (ii) a Participant’s engaging in any conduct which constitutes an employment disqualification
under applicable law (including statutory disqualification as defined under the Securities Exchange Act of 1934); (iii) a Participant’s material failure to perform his or her duties to MetLife; (iv) a Participant’s violation of
any securities or commodities laws, any rules or regulations issued pursuant to such laws, or the rules and regulations of any securities or commodities exchange or association of which MetLife is a member; (v) a Participant’s violation of
any MetLife policy concerning hedging or confidential or proprietary information, or a Participant’s material violation of any other MetLife policy as in effect from time to time; (vi) a Participant’s engaging in any act or making any
statement which impairs, impugns, denigrates, disparages or negatively reflects upon the name, reputation or business interests of MetLife; or (vii) a Participant’s engaging in any conduct detrimental to MetLife. The determination as to
whether “Cause” has occurred shall be made by the Administrator in the Administrator’s sole discretion. 

  
 3 

 For the purposes of the Plan, “Disability” will mean that a Participant, who after
receiving short-term disability income replacement payments for 6 months, (i) is determined to be disabled in accordance with the Company’s long-term disability plan in which employees of the Company are generally able to participate, if
one is in effect at such time, or (ii) to the extent such Participant is not participating in the Company long-term disability plan, or no such long-term disability plan exists, is determined to have a medically determinable physical or mental
impairment that can be expected to result in death or can be expected to last for a continuous period of not less than 12 months as determined by, as applicable, the Company’s long-term disability insurer or the department or vendor directed by
the Company to determine eligibility for unpaid medical leave. 
 3.2. Death. Notwithstanding any other provision of this
Plan, in the event a Participant’s employment terminates by reason of his or her death, such Participant will be eligible to receive an Award, unless, in its sole discretion, the Administrator determines that an Award shall not be paid to the
Participant. Any amount that would be payable to such a Participant’s estate hereunder will be calculated in the same manner as if the employee had been involuntarily terminated without Cause as is set forth in Sections 3.1A, B and C above
provided, however, that the date of death shall be substituted for the date of termination of employment. Such amount shall be paid to such Participant’s estate by the earlier of (i) within two and one-half months after the end of
the calendar year in which the Participant dies or (ii) to the extent some amount is payable earlier, the scheduled payment date with respect to such amount. 
 3.3. Retirement. If a Participant retires, whether on or after normal retirement age or on or after early retirement age, all unvested Awards will be forfeited. 

3.4. Closing of ALICO Transaction. As the closing date of the ALICO Transaction took place during the 2010-2011 Performance
Period, Earned Cash Awards for Participants who were Active Employees as of November 1, 2010 will vest and be paid according to the normal vesting and payment schedule described in Sections 2.5 , 2.6 or 3, as applicable. 

 

	SECTION 4	Administration of this Plan 

 4.1. General. This Plan will be administered by the Administrator. The Administrator may allocate among its members and delegate to any of the Administrator’s administrative responsibilities.
The Administrator will have power to interpret this Plan, to make regulations for carrying out its purpose and to make all other determinations in connection with the Plan and its administration in the Administrator’s sole discretion
(including, without limitation, whether Cause exists with respect to any Participant, the amount and extent to which a Performance Measure has been achieved, and the amount of all Awards), all of which will, unless otherwise determined by the
Administrator, be final, binding and conclusive. 
 4.2. Non-Uniform Determinations. The Administrator’s
determinations under this Plan need not be uniform and may be made by it selectively among Participants (whether or not such Participants are similarly situated). Without limiting the generality of the foregoing, the Administrator will be entitled,
among other things, to make non-uniform and selective determinations as to the persons to become Participants under this Plan and the amounts of the Cash Target. 

  
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 4.3. Determination of Employment. The Administrator will have the sole right to
determine the commencement or date of termination of a Participant’s employment with MetLife, and whether the Participant is an Active Employee, for the purposes of this Plan, separate and apart from any determinations as may be made by MetLife
with respect to the individual’s employment. 
 4.4. Amendments. The Administrator will have the power to amend this
Plan in any manner and at any time, including in a manner adverse to the rights of the Participants or any Participant; provided that, notwithstanding the foregoing, the Administrator may not accelerate or postpone any payment to a
Participant to occur at a time other than the time provided for in this Plan unless permitted by Section 409A for compensation that satisfies the exception for “short-term deferrals.” 

4.5. No Liability. Neither the Administrator nor any employee of MetLife involved in the operation or administration of this Plan
(each, a “Covered Person”) will have any liability to any person (including any Participant) for any action taken or omitted to be taken or any determination made in good faith with respect to the Plan or any Participant’s
participation in it. 
 4.6. Adjustments. The Administrator may, in the Administrator’s discretion, adjust
the metrics and/or Performance Measures under this Plan to preserve the benefits or potential benefits intended to be made available to Participants under this Plan for any sale, transfer or other disposition of MetLife or the Company to a third
party, including the U.S. government, or conversion of shares of common stock or other securities of MetLife, or for any other reason which the Administrator deems appropriate. 

4.7. Release of Claims. In the case of a Participant who is involuntarily terminated by MetLife without Cause or terminates
employment due to Disability, ALICO will require the Participant to execute a release substantially in the form used under the MetLife Plan for Tranisition Assistance, or otherwise determined by the Administrator. 

 

	SECTION 5	General Rules 

 5.1.
Plan and Awards Subject to Compensation Requirements. [Reserved] 
 5.2. No Funding. MetLife will be under no
obligation to fund or set aside amounts to pay obligations under this Plan. Participants will have no rights to the Awards other than as a general unsecured creditor of the Company. 

5.3. Tax Withholding. As a condition to the payment of any compensation under this Plan or in connection with any other event that
gives rise to a federal or other governmental tax withholding obligation (i) MetLife may deduct or withhold (or cause to be deducted or withheld) from any payment to a Participant whether or not pursuant to this Plan, or (ii) the
Administrator will be entitled to require that the Participant remit cash to MetLife (through payroll deduction or otherwise), in each case, in an amount sufficient as determined by the MetLife to satisfy such withholding obligation. Participants
shall be solely liable for any applicable taxes (including, without limitation, income and excise taxes) and penalties, and any interest that accrues thereon, that they incur in connection with the receipt of any Award, and MetLife shall have no
liability in respect thereof. 

  
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 5.4. No Rights to Other Payments. The provisions of this Plan provide no right or
eligibility to a Participant to any other payouts from MetLife under any other alternative plans, schemes, arrangements or contracts MetLife may have with any employees or group of employees of MetLife. 

5.5. No Effect on Benefits. Subject to Section 5.1, grants and payments under this Plan will constitute a special
discretionary incentive payment to the Participants and will not be required to be taken into account by MetLife in computing the amount of salary or compensation of the Participants for the purpose of determining any contributions to or any
benefits under any pension, retirement, profit-sharing, bonus, life insurance, severance or other benefit plan of MetLife or under any agreement with the Participant, unless the Company specifically provides otherwise. 

5.6. Repayment and Clawback. If the Administrator determines that any Award or payment or delivery made under this Plan was based
on materially inaccurate financial statements (which includes, but is not limited to, statements of earnings, revenues or gains) or any other materially inaccurate performance metric criteria (including the Performance Measures), or if, following
the payment or delivery of an Award under this Plan, a Participant is terminated for Cause, then (i) any unpaid Award shall be forfeited or (ii) following payment or delivery of cash with respect to any Award, the Company shall be entitled
to receive, and the Participant shall be obligated to repay to the Company immediately upon demand therefor, the amount of cash paid with respect to the applicable Payment Date. The repayment to the Company described in clause (ii) of this
Section 5.6 shall be net of any taxes withheld from the original payment to the Participant. Payment of any Award is contingent on the existence of no such material inaccuracies as of the applicable Payment Date. 

5.7. Section 409A. Awards under this Plan are intended to provide payments that satisfy the “short-term deferral”
exemption under Section 409A of the Internal Revenue Code of 1986, as amended from time to time (the “Code”), and therefore Awards are not intended to be “deferred compensation” subject to Section 409A (“Section
409A”). It is the Company’s intent that payments under this Plan are exempt from Section 409A, and that the Plan be interpreted and administered accordingly. For this purpose, “Section 409A” means Section 409A of
the Code, including any amendments or successor provisions to that section, and any regulations and other administrative guidance thereunder, in each case as they may be from time to time amended or interpreted through further administrative
guidance. The Administrator will have full authority to give effect to the intent of this Section 5.7. Notwithstanding the foregoing, in the event that the payment of any Award would be subject to the limitations in Section 409A(a)(2)(b)
of the Code, any such Award shall be delayed until six months after the Participant’s separation from service with MetLife (or earlier death) in accordance with the requirements of Section 409A. Each payment or delivery in respect of any
Award will be treated as a separate payment or delivery for purposes of Section 409A. 
 5.8. Severability. If any
of the provisions of this Plan is or are finally held to be invalid, illegal or unenforceable (whether in whole or in part), such provision will be deemed modified to the extent, but only to the extent, of such invalidity, illegality or
unenforceability and the remaining provisions will not be affected thereby; provided that if any of such provisions is finally held to be invalid, illegal, or unenforceable because it exceeds the maximum scope determined to be acceptable to
permit such provision to be enforceable, such provision will be deemed to be modified to the minimum extent necessary to modify such scope in order to make such provision enforceable hereunder. 

  
 6 

 5.9. Entire Agreement. This Plan, along with the Award Letter, contains the entire
agreement of the parties with respect to the subject matter thereof and supersedes all prior agreements, promises, covenants, arrangements, communications, representations and warranties between them, whether written or oral, with respect to the
subject matter thereof. 
 5.10. Waiver of Claims. Each Participant recognizes and agrees that, prior to the receipt of
any Award under the Plan, he or she has no right to any benefits under this Plan. Accordingly, in consideration of the Participant’s receipt of any Award hereunder, he or she expressly waives any right to contest the value of any Award, the
terms of this Plan, any determination, action or omission pursuant to this Plan or the Award Letter by the Administrator or the Company, or any amendment to this Plan. 
 5.11. No Third Party Beneficiaries. Except as expressly provided herein, this Plan will not confer on any person other than MetLife and the Participant any rights or remedies hereunder. 

5.12. Successor Entity; Company’s Assigns. Except as otherwise determined by the Administrator, in the event of a merger,
consolidation, mandatory share exchange or other similar business combination of the Company with or into any other entity (“Successor Entity”) or any transaction in which another person or entity acquires all of the issued and outstanding
voting securities of the Company, or all or substantially all of the assets of the Company, outstanding Awards may be assumed or a substantially equivalent award may be substituted by such Successor Entity or a parent or subsidiary of such Successor
Entity. The terms of this Plan will be binding and inure to the benefit of the Company and its successors and assigns. 
 5.13.
Nonassignability. No Award (or any rights and obligations thereunder) granted to any person under the Plan may be sold, exchanged, transferred, assigned, pledged, hypothecated or otherwise disposed of or hedged, in any manner (including
through the use of any cash-settled instrument), whether voluntarily or involuntarily and whether by operation of law or otherwise, other than by will or by the laws of descent and distribution, except as may be otherwise determined by the
Administrator. Any sale, exchange, transfer, assignment, pledge, hypothecation, or other disposition in violation of the provisions of this Section 5.13 will be null and void and any Award which is hedged in any manner will immediately be
forfeited. All of the terms and conditions of this Plan and the Award Letters will be binding upon any permitted successors and assigns. 
 5.14. Right to Discharge. Nothing contained in this Plan or in any Award Letter will confer on any Participant any right to be continued in the employ of MetLife or to be included in any future
plans of a similar nature. 
 5.15. Right of Offset. To the extent consistent with law, MetLife will have the right to
offset against its obligation to deliver cash under the Plan any outstanding amounts (including, without limitation, travel and entertainment or advance account balances, loans, repayment obligations under any Awards, or amounts repayable to MetLife
pursuant to tax equalization, housing, automobile or other employee programs) that the Participant then owes to MetLife and any amounts the Administrator otherwise deems appropriate pursuant to any tax equalization policy or agreement. 

5.16. No Liability With Respect to Tax Qualification or Adverse Tax Treatment. Notwithstanding anything to the contrary contained
herein, in no event shall 

  
 7 

 
MetLife be liable to a Participant on account of the failure of any Award or amount payable under this Plan to (a) qualify for favorable United States or foreign tax treatment or
(b) avoid adverse tax treatment under United States or foreign law, including, without limitation, Section 409A. 
  

	SECTION 6	Disputes 

 6.1.
Governing Law. This Plan will be governed by and construed in accordance with the laws of the State of New York, without regard to principles of conflict of laws. The Plan shall also be subject to all applicable non-U.S. laws as to
Participants located outside of the United States. In the event that any provision of this Plan is not permitted by the local laws of a country or jurisdiction in which a Participant performs services, such local law shall supersede that provision
of this Plan with respect to that Participant. The benefits to which a Participant would otherwise be entitled under this Plan may be adjusted or limited to the extent that the Administrator determines is necessary or appropriate in light of
applicable law or local practice. 
 6.2. Arbitration. Subject to the provisions of this Section 6, any dispute,
controversy or claim between MetLife, on the one hand, and a Participant, on the other hand, arising out of or relating to or concerning this Plan or any Award, will be finally settled by arbitration in New York City before, and in accordance
with the rules then obtaining of, the New York Stock Exchange, Inc. (the “NYSE”) or, if the NYSE declines to arbitrate the matter (or if the matter otherwise is not arbitrable by it), the American Arbitration Association (the
“AAA”) in accordance with the commercial arbitration rules of the AAA. Prior to arbitration, all claims maintained by a Participant must first be submitted to the Administrator in accordance with claims procedures determined by the
Administrator. 
 6.3. Jurisdiction. MetLife and each Participant hereby irrevocably submit to the exclusive
jurisdiction of a state or federal court of appropriate jurisdiction located in the Borough of Manhattan, the City of New York over any suit, action or proceeding arising out of or relating to or concerning this Plan or any Award that is not
otherwise arbitrated or resolved according to Section 6.2. MetLife and each Participant acknowledge that the forum designated by this section has a reasonable relation to this Plan and to such Participant’s relationship with MetLife,
that the agreement as to forum is independent of the law that may be applied in the action, suit or proceeding and that such forum shall apply even if the forum may under applicable law choose to apply non-forum law. 

6.4. Waiver. MetLife and each Participant waive, to the fullest extent permitted by applicable law, any objection which MetLife
and such Participant now or hereafter may have to personal jurisdiction or to the laying of venue of any such suit, action or proceeding in any court referred to in Section 6.3. MetLife and each Participant undertake not to commence any action,
suit or proceeding arising out of or relating to or concerning this Plan or any Award in any forum other than a forum described in Section 6.3. Notwithstanding the foregoing, nothing herein shall preclude MetLife from bringing any action, suit
or proceeding in any other court for the purpose of enforcing the provisions of this Section 6. MetLife and each Participant agree that, to the fullest extent permitted by applicable law, a final and non-appealable judgment in any such suit,
action or proceeding in any such court shall be conclusive and binding upon the Participant and MetLife. 

  
 8 

 6.5. Service of Process. Each Participant irrevocably appoints the General Counsel of
ALICO (the “General Counsel”) at 600 King Street, Wilmington, Delaware 19801, U.S.A. as his or her agent for service of process in connection with any action, suit or proceeding arising out of or relating to or concerning this Plan or
any Award that is not otherwise arbitrated or resolved according to Section 6.2. The General Counsel will promptly advise the Participant of any such service of process. 
 6.6. Confidentiality. To the extent consistent with law, each Participant must keep confidential any information concerning any grant made under this Plan and any dispute, controversy or claim
relating to this Plan, except that a Participant may disclose information concerning a dispute or claim to the court that is considering such dispute or to such Participant’s legal counsel (provided that such counsel agrees not to disclose any
such information other than as necessary to the prosecution or defense of the dispute). 
  

	SECTION 7	Term of Plan 

 This Plan will continue
until suspended or terminated by the Administrator in its sole discretion. 
  

	
	ADOPTED AS AMENDED AND RESTATED:
	
	 /s/ Kathleen A. Henkel

	Kathleen A. Henkel
	Administrator

  
 9 

 Annex to the 
 Amended And Restated 2010-2011 
 Long Term Incentive Plan For Employees Of Alico

 Performance Measures 

			
	 

	  	2010-2011 Alico LTI Performance Measures and Goals

 2010 Measures and Goals: 50% Weighting * 

 

							
	 Performance Area
	 	 Metric
	 	 Measurement
	 	 Results Target Corridor

	 Separation/Integration

Milestones
  
 Weight: 30%
	 	Successful closing of scheduled separation items, Alico Independent items and MetLife cooperation items	 	On Time (per the Separation Dashboard) and On Budget (in accordance with the separation budget)	 	 Separation
  

•    Threshold: Items in schedules 6.13(a)(i), 6.13 (a)(ii) and 6.08 (e)

 
 •    Target:
6.13(a)(i), 6.13 (a)(ii) and 6.08 (e) items and High Priority Cooperation interdependencies on or before Close
  

•    Exceeds: Meets Target and closes 90% of the medium and low priority
interdependencies on or before close and 100% by the end of Q12011

				
		 	Ensure Day 1 readiness by delivering all Day 1 Must Have Initiatives	 	On Time (Prior to or At closing) per the MetLife Day 1 Initiative Project Plan	 	Day 1 Readiness: Pass or Fail
				
	 Capital & Liquidity
  

Weight: 30%
	 	Maintain solvency ratios and manage capital without increasing leverage in line with expectations and without AIG support	 	Actual solvency ratios will be calculated and provided by ALICO	 	 Threshold: Maintain solvency ratios in line with approved budget (RBC of 400%, CAR of 150%, UK at 160%, Japan 1000%)

 
 Target: Maintain solvency ratios in line with approved budget and build Home Office
liquidity buffer of $100M

				
		 	Build and maintain a Home Office liquidity buffer for ALICO	 	Liquidity buffer to be maintained at the ALICO Home Office level	 	
				
	 Profitability Management
  

Weight: 40%
	 	Alico businesses to achieve 2010 core reforecast earnings of $2.2 billion, GAAP Pre-tax Operating Income prior to MetLife PGAAP and other adjustments	 	 Pre-tax operating income (GAAP basis);
  

Year-end PTOI to be normalized for the effect of FX and adjusted for lost net income on dividends.
	 	GAAP PTOI: threshold is 80% of target, target is 100% of target and over achievement represents 120% of target prior to MetLife PGAAP and other adjustments.
				
		 	Maintain 2010 unlevered ROE to average of prior two years 2008-2009	 	ROE will be calculated by ALICO using after-tax net income divided by average equity (ex-AOCI), excluding IPO costs	 	ROE results as of closing: 13% ROE threshold; 13.5% ROE target and 14% ROE considered over achievement

  

	*	All performance results will be determined by the committee or other plan administrator designated under the 2010-2011 Long Term Incentive Plan for Employees of Alico
in its discretion, and those determinations will be final. 

  
 

 

			
	

	  	2010-2011 Alico LTI Performance Measures and Goals

 2011 Measures and Goals: 50% Weighting * 

 

							
	 Performance Area
	 	 Metric
	 	 Measurement
	 	 Results Target Corridor

	 Integration/Synergy

Milestones
  
 Weight: 30%
	 	Achievement of all post Day 1 through Day 3 Initiatives set out in the joint MetLife/Alico integration Plan	 	On Time per the MetLife post Day 1 through Day 3 Initiatives set out in joint MetLife/Alico Integration Plans on budget with achievement of synergy targets	 	 Day 1 to Day 3
  

•    Threshold – All TSA’s exited as scheduled

 
 •    Target –
TSA’s exited as scheduled and all High Priority Initiatives implemented on time and on budget
  

•    Exceeds – Meets Target plus delivers at least 50% of milestones ahead of
schedule and/or under budget

				
	 Profitability Management
  

Weight: 40%
	 	Combined Alico/MetLife International business to achieve 2011 PGAAP After-tax Net Earnings of $2,350 million based on plan FX rates with Alico accretive to MetLife’s share
price of 50 cents	 	Combined after-tax net earnings (PGAAP basis) with Alico accretive to MetLife’s share price of 50 cents	 	PGAAP After-tax net earnings: threshold is 80% of target, target is 100% of plan target and over achievement represents 120% of target.
				
	Growth	 		 		 	
				
	PFOI Weight: 15%	 	Combined Alico/MetLife International business to achieve 2011 PFOI of $15.7 billion	 	Combined Alico/MetLife International PFOI	 	Threshold is 80% of target, target is 100% of target and over achievement represents 120% of target.
				
	Sales Weight: 15%	 	Combined Alico/MetLife International business to achieve 2011 Sales of $6.0 billion	 	Combined Alico/MetLife International Sales under common definition (i.e. ANP)	 	Threshold is 75% of target, target is 100% of target and over achievement represents 125% of target.

  

	*	All performance results will be determined by the committee or other plan administrator designated under the 2010-2011 Long Term Incentive Plan for Employees of Alico
in its discretion, and those determinations will be final.MetLife International Performance Unit Incentive Plan

 Exhibit 10.46 
 METLIFE INTERNATIONAL PERFORMANCE UNIT INCENTIVE PLAN 
 (as amended and
restated effective February 23, 2011) 
 ARTICLE I. 

PURPOSE 
 The
purpose of the “METLIFE INTERNATIONAL PERFORMANCE UNIT INCENTIVE PLAN” as it may be amended from time to time (the “Plan”) is to foster and promote the long-term financial success of each Affiliate and materially increase the
value of each Affiliate by (a) motivating superior performance, and (b) enabling each Affiliate to attract and retain the services of an outstanding management team upon whose judgment, interest, and special effort the successful conduct
of its operations is largely dependent. 
 ARTICLE II. 
 DEFINITIONS 
 2.1. Definitions. Whenever used herein, the following terms
shall have the respective meanings set forth below: 
 (a) “Act” means the Securities Exchange Act of
1934, as amended. 
 (b) “Administrator” means the Chief Executive Officer of the Company, or
such individual(s) as he shall designate in writing for such purpose from time to time. 
 (c)
“Affiliate” includes each corporation, partnership, joint venture, limited liability company, or other entity (not including the Company): 
 (i) that is within the meaning of that term in Rule 12b-2 of the General Rules and Regulations of the Act, with reference to the Company; 

(ii) in which the Company owns, directly or indirectly, at least twenty percent (20%) of the total combined Voting
Power of such corporation or of the capital interest or profits interest of such partnership or other entity; or 

(ii) which is a partner in a partnership with the Company or any Affiliate as defined in parts (i) or (ii) of
this definition. 
 (d) “Alternative Award” means new rights that: 

(i) are based on stock which is traded on an established securities market, or that the Administrator reasonably believes
will be so traded within 60 days after the Change of Control; 
 (ii) provide such Participant with rights and
entitlements substantially equivalent to or better than the rights, terms and conditions applicable under the Performance Unit with regard to which it is granted, including, but not limited to, an identical or better exercise, eligibility, or
vesting schedule and identical or better timing and methods of payment; 

 (iii) have substantially equivalent economic value to the Performance Unit
with regard to which it is granted (determined at the time of the Change of Control); 
 (iv) have terms and
conditions which provide that in the event that of the Participant’s involuntary Termination or is Constructively Terminated, any conditions on a Participant’s rights under, or any restrictions on transfer or exercisability applicable to,
the rights shall be waived or shall lapse, as the case may be; and 
 (v) do not accelerate the timing of payment
or otherwise violate Code Section 409A. 
 (e) “Approved Retirement” means a Participant’s
Termination: 
 (i) on or after any of the dates indicated below, with credit for purposes of reaching any such
date to include credit for service: (x) with any Affiliate; and (y) with American Life Insurance Company and any of its affiliates as of October 31, 2010 (collectively, “Alico”) (to the extent the Participant was an employee
of Alico as of October 31, 2010 and to the extent such service was recognized by Alico for any of its retirement plan purposes as of October 31, 2010): 
  

			
	 Participant Age:
	  	Minimum
Years of
Service:
	 55 to
57 1/2
	  	15
	 58
	  	14
	 59
	  	12
	 60
	  	10
	 61
	  	8  
	 62 but less than 65
	  	5  
	 65 or older
	  	1; 

 (ii) at times and under such circumstances as determined by the Administrator in its sole
discretion; or 
 (ii) on or after any date as of which the Participant’s Termination is required under
applicable law or employer policy (excluding agreements or contractual obligations in either case applicable solely to an individual employee) in either case due to the Participant attaining a particular age, so long as the Participant has service
(as defined in Section 2.1(e)(i)) of at least one year; 
 provided that, in each case, the Administrator may
require, as a condition to a Participant’s retirement being an “Approved Retirement” for purpose of the 

  
 2 

 
Plan, that the Participant enter into a general release of claims, non-solicitation and/or non-competition agreement in form and substance satisfactory to the Administrator. 

(f) “Board” means the Board of Directors of the Company. 

(g) “Cause” means (i) the willful failure by the Participant to perform substantially his duties as
an Employee (or, should the Participant’s employment transfer to the Company, as an employee of the Company)), other than due to physical or mental illness, after reasonable notice to the Participant of such failure, (ii) the
Participant’s engaging in serious misconduct that is injurious to the Company or any Affiliate in any way, including, but not limited to, by way of damage to their respective reputations or standings in their respective industries,
(iii) the Participant’s having been convicted of, or having entered a plea of nolo contendere to, a crime that constitutes a felony or (iv) the breach by the Participant of any written covenant or agreement
with the Company or any Affiliate not to disclose or misuse any information pertaining to, or misuse any property of, the Company or any Affiliate or not to compete or interfere with the Company or any Affiliate. 

(h) “Change of Control” shall be deemed to have occurred if: 

(i) any person (within the meaning of Section 3(a)(9) of the Act), including any group (within the meaning of
Rule 13d-5(b) under the Act), but excluding the MetLife Policyholder Trust (and any person(s) who would otherwise be described herein solely by reason of having the power to control the voting of the shares held by such Trust) and any employee
benefit plan (or related trust) sponsored or maintained by the Company or any Affiliate thereof, acquires “beneficial ownership” (within the meaning of Rule 13d-3 under the Act), directly or indirectly, of securities of the Company
representing 25% or more of the combined Voting Power of the Company’s securities; or 
 (ii) within any
24-month period, the persons who were directors of the Company at the beginning of such period (the “Incumbent Directors”) shall cease to constitute at least a majority of the Board or the board of directors of any successor to the
Company; provided, however, that any director elected to the Board, or nominated for election, by a majority of the Incumbent Directors then still in office shall be deemed to be an Incumbent Director for purposes of this subclause
(ii); or 
 (iii) upon the consummation of a merger, consolidation, share exchange, division, sale or other
disposition of all or substantially all of the assets of the Company which has been approved by the shareholders of the Company (a “Corporate Event”), and immediately following the consummation of which the stockholders of the Company
immediately prior to such Corporate Event do not hold, directly or indirectly, a majority of the Voting Power of (x) in the case of a merger or consolidation, the surviving or resulting corporation, (y) in the case of a share exchange, the
acquiring corporation or (z) in the case of a 

  
 3 

 
division or a sale or other disposition of assets, each surviving, resulting or acquiring corporation which, immediately following the relevant Corporate Event, holds more than 25% of the
consolidated assets of the Company immediately prior to such Corporate Event; or 
 (iv) any other event occurs
which the Board declares to be a Change of Control. 
 (i) “Change of Control Price” means the highest
price per share of Common Stock offered in conjunction with any transaction resulting in a Change of Control (as determined in good faith by the Administrator if any part of the offered price is payable other than in cash) or, in the case of a
Change of Control occurring solely by reason of a change in the composition of the Board, the highest Closing Price of Common Stock on any of the 30 trading days immediately preceding the date on which a Change of Control occurs. 

(j) “Closing Price” means, on any date, the closing price of Common Stock as reported in the principal consolidated transaction
reporting system for the New York Stock Exchange (or on such other recognized quotation system on which the trading prices of Common Stock are quoted at the relevant time) on such date. In the event that there are no Common Stock transactions
reported on such tape (or such other system) on such date, Closing Price shall mean the closing price on the immediately preceding date on which Common Stock transactions were so reported. 

(k) “Code” means the United States Internal Revenue Code. 

(l) “Committee” means the Compensation Committee of the Board of Directors of the Company, or the successor
committee to such committee, or any other duly authorized committee of such Board of Directors of the Company appointed by the Board of Directors of the Company to administer the Plan, or the Board of Directors of the Company, and the
Committee’s designee or delegate. 
 (m) “Common Stock” means the common stock of the Company, par
value United Stated Dollars $0.01 per share. 
 (n) “Company” means MetLife, Inc., a Delaware
corporation, and any successor thereto. 
 (o) “Constructively Termination” means a voluntary
Termination by an Employee within ten (10) business days after any of the following actions by the Company, Affiliate, or person acting on behalf of either: 

(i) requiring the Employee to be based as his/her regular or customary place employment at any office or location more
than fifty (50) miles from the location at which the Employee performed his/her duties immediately prior to the Change of Control, except for travel reasonably required in the performance of the individual’s responsibilities; 

  
 4 

 (ii) reducing the Employee’s base salary below the rate in effect at
the time of a Change of Control; or 
 (iii) failing to pay the Employee’s base salary, other wages, or
employment-related benefits as required by law. 
 (p) “Disability” has the meaning given in such
long-term disability plan, program, or arrangement maintained by the Company or an Affiliate in which the Participant participates, or in such other long-term disability plan, program, or arrangement in which the Participant participates designated
for purposes of this definition at any time, and from time to time, by the Administrator. 
 (q)
“Employee” means any employee of any Affiliate, as determined by the Administrator in its sole discretion. Notwithstanding the foregoing, the Administrator may revise the definition of Employee so as to conform to the laws of any
jurisdiction in accordance with Section 4.3(c) below. For greater clarity, no employee of the Company shall be an Employee. 
 (r) “Final Performance Units” will have the meaning ascribed to that term in the applicable Performance Unit Agreement. 

(s) “Participant” means any Employee designated by the Committee or the Administrator to participate in the
Plan. 
 (t) “Performance Factor” will have the meaning ascribed to that term in the applicable
Performance Unit Agreement. 
 (u) “Performance Period” will have the meaning ascribed to that term in
the applicable Performance Unit Agreement. 
 (v) “Performance Unit” means a conditional right to
payment granted pursuant to and subject to the terms of this Plan, denominated in units. 
 (w) “Performance
Unit Agreement” means a written agreement between the Participant and one or more Affiliates that specifies the number of Performance Units granted to the Participant, the Performance Factor, the Performance Period, how the number of Final
Performance Units will be determined, the effect of any Termination on Performance Units, and any other conditions of any payment related to Performance Units, and such other terms and conditions as the Administrator shall determine which are not
inconsistent with the provisions of the Plan. 
 (x) “Termination” means the termination of employment,
except that no transfer of employment between an Affiliate and the Company, or between an Affiliate and any other Affiliate will be considered a Termination. 
 (y) “Voting Power” means such number of Voting Securities as shall enable the holders thereof to cast all the votes which could be cast in an annual election of directors of a company, and
“Voting Securities” shall mean all securities entitling the holders thereof to vote in an annual election of directors of a company. 

  
 5 

 2.2 Gender and Number. Except when otherwise indicated by the context, words in the
masculine gender used in the Plan shall include the feminine gender, the singular shall include the plural, and the plural shall include the singular. 
 ARTICLE III. 
 ELIGIBILITY AND PARTICIPATION 

Participants in the Plan shall be those Employees selected by the Committee or the Administrator to be granted Performance Units pursuant
to the Plan. 
 ARTICLE IV. 
 POWERS OF THE COMMITTEE AND THE ADMINISTRATOR 
 4.1. Power to Grant.

 (a) The Committee and the Administrator shall determine the Employees to whom Performance Units shall be granted. The number
of Performance Units the Committee may grant shall be unlimited. The number of Performance Units the Administrator may grant to any individual Participant shall be limited to 15,000 in any 12-month period. The Administrator may not grant any
Performance Units to any individual who is (x) subject to Section 16 of the Act; (y) an executive officer of the Company; or (z) subject to Section 4230 of the New York Insurance Law, in each case unless the Committee
approves or ratifies such a grant. 
 (b) The Administrator shall determine the terms and conditions of any and all such
Performance Units, including the terms of any Performance Unit Agreements. The Administrator may establish different terms and conditions for different Participants and for the same Participant for each Performance Unit such Participant may receive,
whether or not granted at different times. Notwithstanding any other terms of this Plan, no grant of Performance Units shall be effective unless an one or more Affiliates approves or ratifies the grant. The Committee’s or Administrator’s
grant of Performance Units to an employee of MetLife Group, Inc. shall constitute approval of the grant by MetLife Group, Inc. 

4.2. Administration. 
 (a) Rules, Interpretations and Determinations. The Plan shall be administered by the Administrator. The Administrator shall have full authority to interpret and administer the Plan, to establish,
amend, and rescind rules and regulations relating to the Plan, to provide for conditions deemed necessary or advisable to protect the interests of any Affiliate, to construe Performance Unit Agreements and to make all other determinations it
determines necessary or advisable for the administration and interpretation of the Plan in order to carry out its provisions and purposes. Determinations, interpretations, or other actions made or taken by the Administrator shall be final, binding,
and conclusive for all purposes and upon all persons. 

  
 6 

 (b) Agents and Expenses. The Administrator may appoint agents (who may be officers or
employees of the Company or any Affiliate) to assist in the administration of the Plan and may grant authority to such persons to execute agreements or other documents on the Administrator’s behalf. The Administrator may employ such legal
counsel, consultants and agents as it may deem desirable for the administration of the Plan and may rely upon any opinion received from any such counsel or consultant and any computation received from any such consultant or agent. All expenses
incurred in the administration of the Plan, including, without limitation, for the engagement of any counsel, consultant or agent, shall be paid by the Company or an Affiliate. 

(c) Adjustments to Conform With Law. Notwithstanding anything in the Plan to the contrary, the Administrator may, in its sole
discretion, amend or vary the terms of the Plan in order to conform such terms with the requirements of local law or to meet the goals and objectives of the Plan, and may, in its sole discretion, establish administrative rules and procedures to
facilitate the operation of the Plan. The Administrator may, where it deems appropriate in its sole discretion, establish one or more sub-plans of the Plan for these purposes. 
 ARTICLE V. 
 ADJUSTMENTS TO PERFORMANCE UNITS 

The Administrator will make appropriate adjustments in the terms and conditions of Performance Units in recognition of unusual or
nonrecurring events affecting the Company or its financial statements (such as a Common Stock dividend, Common Stock split, recapitalization, payment of an extraordinary dividend, merger, consolidation, combination, spin-off, distribution of assets
to stockholders other than ordinary cash dividends, exchange of shares, or other similar corporate change), or in recognition of changes to applicable laws, regulations, or accounting principles, to prevent unintended dilution or enlargement of the
potential benefits of Performance Units. The Administrator’s determinations in this regard will be conclusive. 
 ARTICLE
VI. 
 PERFORMANCE UNITS 
 6.1. Grant of Performance Units. Performance Units may be granted to Employees at such time or times as shall be determined by the Committee or the Administrator. Except as otherwise provided
herein, the Committee or the Administrator shall have complete discretion in determining the number of Performance Units, if any, to be granted to an Employee. The Committee or the Administrator may grant Performance Units before, at the same time
as, or after the beginning of the Performance Period applicable to those Performance Units. Notwithstanding any other terms of this Plan, no grant of Performance Units shall be effective unless one ore more Affiliates approves or ratifies the grant
and the terms thereof. The Committee’s or the Administrator’s grant of 

  
 7 

 
Performance Units to an employee of MetLife Group, Inc. shall constitute approval of the grant by MetLife Group, Inc. Each Performance Unit shall be evidenced by a Performance Unit Agreement. Any
Affiliate that approves or ratifies a grant of Performance Units shall execute the applicable Performance Unit Agreement through a representative. 
 6.2. Payment. Subject to the terms of Articles VII and VIII of this Plan, a cash payment equal to the number of Final Performance Units multiplied by the Closing Price on the date designated by the
Plan Administrator (such date shall follow the last day of the Performance Period), less minimum withholding for applicable taxes and other legally-required items, shall be due and payable to the Participant (or another individual in lieu of the
Participant pursuant to Section 10.2 of the Plan). The timing of payment shall be determined under the applicable Performance Unit Agreement. 
 6.3 Substitution. The Administrator may, at any time prior to payment for Performance Units, in its sole discretion, may: 
 (a) find that the Company or an Affiliate has made an award to the Participant intended to substitute for the Performance Units, including but not limited to a contingent right to acquire Common Stock
(whether restricted or unrestricted, subject to Common Stock-price appreciation or other performance terms, in the form of options, or otherwise); 
 (b) find that such substitute award is subject to such material terms and conditions that: (i) are no less favorable than the terms and conditions governing the Performance Units; and (ii) that
provide for the same terms for timing of payment as do the Performance Units; and 
 (c) in light of such findings, cancel the
Performance Units without additional compensation to the Participant. 
 ARTICLE VII. 

CHANGES OF STATUS 

The applicable Performance Unit Agreement will specify the effect of changes of status including Disability, Termination (including
Termination for Cause or Approved Retirement) on Performance Units. 

  
 8 

 ARTICLE VIII. 
 CHANGE OF CONTROL 
 Notwithstanding any other terms of this Plan, in the event of
a Change of Control, unless the Administrator reasonable determines in good faith prior to the occurrence of a Change of Control that an Alternative Award has been granted with regard to a Performance Unit, the Performance Units (without being
transformed into Final Performance Units) will be valued at the Change of Control Price and be immediately payable in cash. The timing of payment shall be determined under the applicable Performance Unit Agreement. 

ARTICLE IX. 

AMENDMENT, MODIFICATION, AND TERMINATION OF PLAN 
 The Administrator may amend or terminate the Plan at any time in its sole discretion. No amendment or termination of the Plan shall in any manner adversely affect any Performance Unit theretofore granted
under the Plan without the consent of the Participant. 
 SECTION X. 

MISCELLANEOUS PROVISIONS 
 10.1. Nature and Transferability of Performance Units. No Performance Unit shall be considered a property interest of any Participant, and such Performance Unit shall have no value except as a
means of determining, in part, the amount of payments, if any, under the Plan. Without limiting the generality of the foregoing, no Performance Unit may be sold, transferred, pledged, assigned, or otherwise alienated or hypothecated, other than by
will or by the laws of descent and distribution. 
 10.2. No Guarantee of Employment or Participation. Nothing in the
Plan shall interfere with or limit in any way the right of any Affiliate to terminate any Participant’s employment or service at any time, nor confer upon any Participant any right to continue in the employ of any Affiliate. No Employee shall
have a right to be selected as a Participant, or, having been so selected, to receive any future Performance Units. 
 103.
Tax Withholding and Currency. Each Affiliate shall have the power to withhold, or require a Participant to remit to the Affiliate, an amount sufficient to satisfy any applicable withholding tax requirements imposed by any competent authority
on any Performance Unit under the Plan, and the Affiliate may defer any payment until such requirements are satisfied. Any Affiliate may make any payment under this Plan in any currency chosen by the Affiliate in its discretion. 

10.4. No Limitation on Compensation. Nothing in the Plan shall be construed to limit the right of the Company or any Affiliate to
establish other plans, programs, agreements, or arrangements. 

  
 9 

 10.5. Requirements of Law. The granting of Performance Units and all payments under
this Plan shall be subject to all applicable laws, rules, and regulations, and to such approvals by any governmental agencies as may be required. 
 10.6. Term of Plan. The Plan shall be effective upon its execution by the Administrator. The Plan shall continue in effect until terminated pursuant to Article IX. 

10.7. Governing Law. The Plan and all Performance Unit Agreements hereunder shall be construed in accordance with and governed by
the laws of the State of Delaware of the United States of America, without regard to principles of conflict of laws. 
 10.8.
No Impact on Benefits. Except as may otherwise be specifically stated under any employee benefit plan, policy or program, Performance Units shall not be treated as compensation for purposes of calculating an Employee’s right under any
such plan, policy or program. 
 10.9. No Constraint on Corporate Action. Nothing in this Plan shall be construed
(i) to limit, impair or otherwise affect the Company’s or any Affiliate’s right or power to make adjustments, reclassifications, reorganizations or changes of its capital or business structure, or to merge or consolidate, or
dissolve, liquidate, sell, or transfer all or any part of its business or assets or (ii) except as provided in Article IX, to limit the right or power of the Company or any Affiliate to take any action which such entity deems to be
necessary or appropriate. 
 10.10. Unfunded Plan. This Plan shall be unfunded and shall not create (or be construed to
create) a trust or separate fund. Likewise, this Plan shall not establish any fiduciary relationship between the Company or any Affiliate or the Administrator and the Participant. To the extent that any Participant holds any rights by virtue of
being granted Performance Units under this Plan, such right shall be no greater than the right of an unsecured general creditor of any Affiliate that approves or ratifies the grant of Performance Units to such Participant. 

  
 10 

 10.11. Obligor. The obligation to make payments due under each Performance Unit
Agreement, if any, shall be the sole obligation of the Affiliate (or Affiliates, as the case may be) that enters into such Performance Unit Agreement. Payment due from any Affiliate in relation to any Performance Units may be made on behalf of that
Affiliate by any other Affiliate. In no event shall the Company be obligated to make payments due under this Plan pursuant to any Performance Unit Agreement. 
 IN WITNESS WHEREOF, the Plan Administrator has adopted this MetLife International Performance Unit Incentive Plan, effective as amended and restated effective February 23, 2011. 

 

					
	PLAN ADMINISTRATOR	 	
	
	 /s/ Dennis J. Shiel

	 Dennis J. Shiel
	 	
			
	Date:	 	 7/21/11
	 	

  
 11

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