Document:

EX-10.1

 Exhibit 10.1 
 Executive Transition Agreement 
 This EXECUTIVE TRANSITION
AGREEMENT (“Agreement”) is entered into as of the 19th day of March, 2013 by Kevin DeSanctis and Michael C. Garrity (collectively, the “Executives”) and REVEL AC, Inc., a Delaware corporation, REVEL AC, LLC, a
Delaware limited liability company, REVEL Entertainment Group, LLC, a New Jersey limited liability company, REVEL Atlantic City LLC, a New Jersey limited liability company and NB Acquisition, LLC, a New Jersey limited liability company
(collectively, the “Filing Entities” or the “Company”). 

WHEREAS, Kevin DeSanctis (“DeSanctis”) is an employee of the Company pursuant to an
Employment Agreement (the “DeSanctis Employment Agreement”) entered into as of the 17th day of February, 2011 by and between him and the Filing Entities, pursuant to which, among other things, DeSanctis serves as an employee of the Filing Entities, a member of the Board of Directors of
REVEL AC, Inc., and Chief Executive Officer of some or all of the Filing Entities; 
 WHEREAS,
Michael C. Garrity (“Garrity”) is an employee of the Company pursuant to an Employment Agreement (the “Garrity Employment Agreement”) entered into as of the
13th day of May, 2011 by and between him and the Filing
Entities, pursuant to which, among other things, Garrity serves as an employee of the Filing Entities, a member of the Board of Directors of REVEL AC, Inc., and Chief Investment Officer of some or all of the Filing Entities; 

WHEREAS, the Filing Entities intend to file a voluntary petition for relief under chapter 11 (“Chapter 11”) of
title 11 of the United States Code (the “Bankruptcy Code”) in order to effectuate a pre-packaged Chapter 11 plan of reorganization (as such plan may be amended or modified, the “Plan”); 

WHEREAS, the Filing Entities requests certain development and consulting services from the Executives for designated tasks and
projects, as set forth below; 
 WHEREAS, the Executives and the Filing Entities have discussed these matters, together
with the DeSanctis Employment Agreement and the Garrity Employment Agreement (collectively, the “Employment Agreements”) and the Filing Entities’ anticipated bankruptcy filing, and have reached certain agreements, as set forth
herein. 
 NOW, THEREFORE, the parties hereto, intending to be legally bound, hereby agree as follows: 

1. Resignation and Transition. In connection with the arrangements set forth in this Agreement, and the Executives’
election to enter into this Agreement, each of the Executives shall resign from the Filing Entities (such resignation shall be from all positions, whether as Board or committee member, employee, officer, executive, or otherwise), with such
resignations to be effective as of the later of the following two dates (such later date, the “Resignation Date”): (a) the date that provisional (or appropriate) regulatory approval is obtained for the appointment of a
replacement Chief Executive Officer for the Filing Entities or (b) the date the Filing Entities commence the solicitation of acceptances or rejections on the Plan. Notwithstanding anything herein to the contrary, despite the occurrence of the
Resignation Date, the Executives will remain in their current positions with Revel Group, LLC and Revel Development Group LLC; specifically, Chief Executive Officer, with respect to DeSanctis, and Chief Investment Officer, with respect to Garrity.
Upon the occurrence of the Resignation Date, the Filing Entities shall obtain replacement personnel to fill the roles previously performed by the Executives. 
 2. Development and Consulting Arrangement. Upon the occurrence of the Resignation Date, the Company shall be deemed to engage the Executives, and the Executives agree to be engaged, in
accordance with the terms and conditions contained herein (the “Development and Consulting Arrangement”). The Executives shall provide full-time development services to the Company from the Resignation Date through and including
May 31, 2013 (such time period, the “Development Phase”); provided, however, that notwithstanding the foregoing, during the Development Phase the Company may in writing allow or direct that one or both of the
Executives reduce the amount of time he/they provide(s) services to the Company to the extent that the Company does not require the full-time services of such Executive(s). From June 1, 2013 until the six (6) month anniversary

 
of the Resignation Date (such time period, “Consulting Phase”), the Executives shall provide part-time consulting services to the Company, of up to 19.9% of each Executive’s
time. The Executives shall not receive compensation for the Development and Consulting Arrangement except as set forth in the section of this Agreement labeled “Payment”. 

3. Required Tasks. The development and consulting services to be provided by the Executives during both the Development
Phase and the Consulting Phase shall include (i) assisting the Company with operational and strategic business analysis and input, (ii) assisting the Company in connection with ministerial matters related to the Chapter 11 process which
shall exclude, for the avoidance of doubt, matters related to the administration of the Filing Entities’ bankruptcy estates, and (iii) assisting the Company with on-line gaming and sportsbook negotiation and implementation, all at the
request of the Company. In addition, the Executive shall have primary responsibility for assisting the Company with the following tasks (collectively, the “Required Tasks”): 

(a) substantial completion of currently-planned High Limit Slot Area/Players Lounge by May 31, 2013; 

(b) substantial completion of currently-planned HQ Day club by May 31, 2013; 

(c) substantial completion of the 3-meals per day restaurant by May 31, 2013; and 

(d) substantial completion of the Noodle Bar, additional Player’s Club location and wayfinding and merchandizing signage by
May 31, 2013. 
 4. Payment.  
 (a) If the Executives have substantially performed their services required hereunder during the Development Phase, then, at the end of the Development Phase, the Company shall promptly pay the Executives
$5,355,000 (the “Initial Payment”). 
 (b) Promptly upon the conclusion of the Consulting Phase if the
Executives have substantially performed their services required hereunder during the Consulting Phase, the Company shall make an additional payment to the Executives, which payment shall be in an amount equal to the following: (i) 33.33% of the
Additional Payment, as defined below, for each of the Required Tasks listed in clauses (a) and (b) of paragraph 3 hereof that is achieved, plus (ii) 16.67% of the Additional Payment for each of the Required Tasks listed in clauses
(c) and (d) of paragraph 3 hereof that is achieved. As used herein, the term “Additional Payment” means $1,785,000. 
 (c) The Initial Payment and the Additional Payment (collectively, the “Payments”) shall be divided between the Executives as follows: DeSanctis shall receive 58.823% and Garrity shall
receive 41.117%. 
 5. Board Determination. The new Board shall, reasonably and in good faith, make a
determination promptly after the expiration of the Consulting Phase as to whether the Required Tasks have been achieved and shall promptly communicate such determination to the Executives in writing. To the extent the Executives dispute the
Board’s determination, such dispute shall be resolved by arbitration paid for equally by the Executives and the Company. 

6. Expenses/Benefits. The Company shall provide the Executives with reimbursement for any reasonable out-of-pocket expenses
incurred in furtherance of their duties hereunder, subject to Company policies and appropriate documentation. In addition, the Company shall provide the Executives with the benefits set forth in Section 4.4(b)(ii) of the Employment Agreements
to the same extent as if the Executives’ employment had they been terminated with Good Reason (as such term is used in the Employment Agreements) and the Company shall abide by the provisions of section 8 of the Employment Agreements, subject
to paragraph 8 hereof, as if fully set forth herein, with respect to Payments made, or benefits provided, to the Executives under this Agreement. For 

  
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the avoidance of any doubt, section 8 of the Employment Agreements, subject to paragraph 8 hereof, shall be and hereby is incorporated herein by reference; provided, however, it shall apply to
the Payments made and benefits provided pursuant to this Agreement. 
 7. Company Termination. The Company may
terminate the Executives’ obligation to provide services hereunder for (i) any of the Required Tasks or (ii) the Development Phase or the Consulting Phase; provided, however, that if the Executives had been performing
the obligations hereunder prior to the date of such termination, the Executives shall be entitled to receive the applicable Payment(s) due hereunder as if such Required Task(s) has/have been completed and/or as if such Development Phase or
Consulting Phase has expired. 
 8. Acknowledgments. The Executives hereby acknowledge and agree that:
(i) their respective rights to severance under the Employment Agreements are hereby modified such that the Executives shall have no entitlement to severance under the Employment Agreements or otherwise; (ii) any reference in the Employment
Agreements to equity and equity-based compensation and cash adjustment plan, share adjustment plan and stock election shall be deemed deleted; (iii) they shall not be entitled to relocation benefits under the Employment Agreements;
(iv) any right they may have in the Employment Agreements to not be subject to the non-compete provisions contained in section 6.1 thereof in exchange for releasing their rights to severance shall be deemed deleted; (v) the provisions in
the Employment Agreements requiring the Company to make one or more Gross-Up Payments (as such term is defined in the Employment Agreements) shall be deemed deleted if and only if the Company obtains approval of the United States Bankruptcy Court or
such other court of competent jurisdiction (the “Court”), to the extent needed, for the private company exemption under Section 280G(b)(5) of the Internal Revenue Code and related guidance which approval the Company shall seek,
and the Executives, to the extent necessary, shall execute waivers in accordance with Section 280G; (vi) they shall not solicit employees of the Company for employment for one (1) year after the Resignation Date and (vii) they
shall not solicit existing customers in the Atlantic City area for one (1) year after the Resignation Date. 
 9.
Non-Disparagement. The Executives shall refrain from making any derogatory, disparaging or false statements with respect to the Company or any of its shareholders, controlling persons, officers, directors, executives, advisors,
customers, or other related or affiliated parties. The Company shall instruct, and use its reasonable efforts so that, its shareholders, controlling persons, officers, directors, executives and advisors to refrain from making derogatory, disparaging
or false statements with respect to the Executives. 
 10. Releases.  

(a) Upon Court approval of this agreement, in consideration of the promises of the Filing Entities set forth in this Agreement, and
strictly conditioned thereupon, each of the Executives, and their successors-in-interest and assigns, does hereby forever, fully, and completely release, acquit and discharge each of the Filing Entities and its/their successors and assigns of and
from all, and all manner of, claims, actions, and causes of action, suits, debts, obligations, promises, expenses, bills, liens, liabilities, dues, accounts, bonds, covenants, contracts, agreements, costs, judgments, claims and demands whatsoever,
in law or in equity, or otherwise, whether known or unknown, accrued or unaccrued, which one or more of the Executives, ever had, now has, or can, shall or may in the future have against any of the Filing Entities and its/their successors and
assigns. The release set forth in this paragraph specifically excludes (a) the obligations of the Filing Entities under this Agreement and (b) any obligation of any of the Filing Entities to provide indemnification to one or more of the
Executives under any agreement or applicable law. 
 (b) Upon Court approval of this agreement, in consideration of the
promises of the Executives set forth in this Agreement, and strictly conditioned thereupon, each of the Filing Entities and its successors-in-interest and assigns, does hereby forever, fully, and completely release, acquit and discharge each of the
Executives and his/their successors and assigns of and from all, and all manner of, claims, actions, and causes of action, suits, debts, obligations, promises, expenses, bills, liens, liabilities, dues, accounts, bonds, covenants, contracts,
agreements, costs, judgments, claims and demands whatsoever, in law or in equity, or otherwise, whether known or unknown, accrued or unaccrued, which any of the Filing Entities ever had, now has, or can, shall or may in the future have against one
or both of the Executives and/or his/their successors and assigns. The release set forth in this paragraph specifically (a) excludes the obligations of the Executives under this Agreement and (b) any claims or causes of action based upon
fraud, willful misconduct or obligations for money borrowed or advanced. 

  
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 11. Communications. The Company and the Executives shall agree upon a
communications strategy, which shall include mutually-agreed public announcements and be designed to maximize value for all parties and allow for a constructive transition, with respect to this Agreement and the departure of the Executives from the
Company. 
 12. Chapter 11 Proceedings. The Restructuring Support Agreement dated as of February 19, 2013 (as
it may be amended, supplemented or modified from time to time, the “RSA”) between and among the Company, the 2012 Credit Agreement Consenting Lenders, the Term Loan Credit Agreement Consenting Lenders, the Consenting Noteholders and
the Administrative Agent (as such terms are defined in the RSA) shall be amended, subject to certain terms and conditions, to include a provision whereby the Consenting Debtholders (as such term is defined in the RSA) agree to support the
Company’s assumption of this Agreement pursuant to Section 365 of the Bankruptcy Code. This Agreement shall be appended to the Plan as an exhibit and the Plan shall provide that this Agreement shall be deemed assumed, pursuant to
Section 365 of the Bankruptcy Code, as of the effective date of the Plan; provided, however, that at the Executives’ election, the Company shall promptly seek Court approval of the assumption of this Agreement pursuant to Section 365.
The Company shall disclose the existence and shall describe this Agreement in all relevant pleadings in the Company’s Chapter 11 case and in other relevant legal, regulatory and similar submissions as an integral part of the Company’s
Plan. If assumption and/or approval of this Agreement is denied, then the Executives shall be permitted to rescind this Agreement, by written notice to the Company within five (5) days after either such denial; provided, however,
that for the avoidance of doubt, in no event shall the Executives be reemployed by or reinstated with the Company in the event of rescission. In the event that the Executives rescind the Agreement, this Agreement, including without limitation the
releases contained in paragraph 10 hereof, shall be null and void; provided, however, that notwithstanding such rescission, (a) the Executives shall be deemed to have resigned on the date of such rescission for Good Reason within
the meaning of their Employment Agreements; (b) the Employment Agreements shall be rejected; and (c) the Executives shall be subject to the cap on severance payments set forth in Section 502(b)(7) of the Bankruptcy Code. 

13. Governing Law. This Agreement shall be governed by and construed in accordance with the laws of the State of Delaware,
without recourse to choice of law provisions. 
 14. Jurisdiction. The parties hereby irrevocably consent to the
jurisdiction of the federal and state courts located in the State of New Jersey for any matter that is not otherwise expressly subject to arbitration hereunder; provided however, that upon the Company’s filing for bankruptcy, the
parties hereto shall be subject to bankruptcy court jurisdiction to the extent not otherwise expressly subject to arbitration hereunder. 
 15. Notices. All notices and other communications required or permitted under this Agreement or necessary or convenient in connection herewith shall be in writing and shall be deemed to have
been given when hand delivered, delivered by guaranteed next-day delivery or sent by facsimile (with confirmation of transmission) or shall be deemed given on the third business day when mailed by registered or certified mail, as follows (provided
that the notice of change of address shall be deemed given only when received): 
 If to the Company, to: 

Revel Entertainment Group, LLC 
 500 Boardwalk 
 Atlantic City, NJ 08401 

Attention: Mary Helen Medina, General Counsel 
 (609) 568-9308 (fax) 

  
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 With a copy to: 
 Kirkland & Ellis LLP 
 601 Lexington Avenue 

New York, NY 10022 
 Attention: Marc Kieselstein, Esq. and Nicole Greenblatt, Esq. 
 (212) 446-4900
(fax) 
 If to the Executives, to: 
 Kevin DeSanctis 
 Michael C. Garrity 

c/o Mark Minuti, Esq. 
 Saul Ewing LLP 
 222 Delaware Avenue, Suite 1200 

P.O. Box 1266 

Wilmington, DE 19899 
 mminuti@saul.com 
 (302) 421-5873 (fax) 

With a copy to: 

Mark Minuti, Esq. 
 Saul Ewing LLP 
 222 Delaware Avenue, Suite 1200 

P.O. Box 1266 

Wilmington, DE 19899 
 mminuti@saul.com 
 (302) 421-5873 (fax) 

or to such other names or addresses as the Company or the Executives, as the case may be, shall designate by notice to each other person entitled to
receive notices in the manner specified in this Section. 
 16. Agreement; Amendment and Assignment. This
Agreement shall amend, restate, supercede and replace that certain Executive Transition Agreement dated March 13, 2013 and cannot be changed, modified, extended, waived or terminated except upon a written instrument signed by the Executives and
the Company. Neither of the Executives may assign any of his rights or obligations under this Agreement. The Company may assign its rights and obligations under this Agreement to any successor to all or substantially all of its assets or business by
means of merger, consolidation, or reorganization. 
 17. Severability. If any provision of this Agreement is
adjudicated to be invalid or unenforceable in any jurisdiction, and absent written election of the Executives otherwise, such invalidity or unenforceability shall not affect any other provision or application of this Agreement which can be given
effect with the invalid or unenforceable provision or application and shall not invalidate or render unenforceable such provision or application in any other jurisdiction. If any provision is held void, invalid or unenforceable with respect to
particular circumstances, it shall nevertheless remain in full force and effect in all other circumstances. 
 18.
Construction. This Agreement is the result of negotiations and reflects an arms’ length bargain between and among sophisticated parties, each represented by counsel. The parties agree that, if this Agreement requires
interpretation, neither party should be considered “the drafter” nor be entitled to any presumption that ambiguities are to be resolved in his or her favor. 
 19. Acknowledgments. Executives acknowledge that Executives (i) Executives have the full right, authority and capacity to enter into this Agreement and perform Consultant’s
obligations hereunder, and (ii) Executives are not bound by any agreement that conflicts with or prevents or restricts the full performance by Executives of its duties and obligations to the Company hereunder. 

  
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 20. Taxes. The Executives shall be responsible for the payment of their
portion of any and all required federal, state, local and foreign taxes (including self-employment taxes) incurred, or to be incurred, in connection with any amounts payable to the Executives under this Agreement. 

21. Beneficiaries/References. Each Executive shall be entitled, to the extent permitted under any applicable law, to select
and change a beneficiary or beneficiaries to receive any compensation or benefit payable under or pursuant to this Agreement following the Executive’s death by giving the Company written notice thereof and otherwise to the Executive’s
estate. In the event of an Executive’s death or a judicial determination of an Executive’s incompetence, reference in this Agreement to such Executive shall be deemed, where appropriate, to refer to such Executive’s beneficiary,
estate or other legal representative. 
 22. Execution of Agreement. This Agreement may be executed and delivered
(by facsimile, by electronic mail in portable document format (.pdf) or otherwise) in any number of counterparts, each of which, when executed and delivered, shall be deemed an original, and all of which together shall constitute the same agreement.
Each individual executing this Agreement on behalf of a Party has been duly authorized and empowered to execute and deliver this Agreement on behalf of said Party. 
 IN WITNESS WHEREOF, the undersigned, intending to be legally bound, have executed this Agreement as of the date first written above. 

 

					
	 /s/ Kevin G. DeSanctis
	 		 	 /s/ Michael C. Garrity

	Kevin G. DeSanctis	 		 	Michael C. Garrity

  

													
	 REVEL AC, INC.
	 		 	REVEL AC, LLC
					
	By:	 	 /s/ Dennis E. Stogsdill
	 		 	By:	 	 /s/ Dennis E. Stogsdill

		 	Name:	 	Dennis E. Stogsdill	 		 		 	Name:	 	Dennis E. Stogsdill
		 	Title:	 	Chief Restructuring Officer	 		 		 	Title:	 	Chief Restructuring Officer
			
	REVEL ENTERTAINMENT GROUP, LLC	 		 	REVEL ATLANTIC CITY, LLC
					
	By:	 	 /s/ Dennis E. Stogsdill
	 		 	By:	 	 /s/ Dennis E. Stogsdill

		 	Name:	 	Dennis E. Stogsdill	 		 		 	Name:	 	Dennis E. Stogsdill
		 	Title:	 	Chief Restructuring Officer	 		 		 	Title:	 	Chief Restructuring Officer
					
	NB ACQUISITION, LLC	 		 		 		 	
						
	By:	 	 /s/ Dennis E. Stogsdill
	 		 		 		 	
		 	Name:	 	Dennis E. Stogsdill	 		 		 		 	
		 	Title:	 	Chief Restructuring Officer	 		 		 		 	

  
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 Exhibit 10.30 
 FEDERAL INCOME TAX SHARING AGREEMENT 
 EFFECTIVE January 1, 2013, this Federal Income
Tax Sharing Agreement (“Agreement”) is entered into by and between ING U.S., Inc. (“ING U.S.”) and each of its undersigned Subsidiaries (“the Subsidiaries”, or in the singular “Subsidiary”). 

WITNESSETH: 
 WHEREAS,
ING U.S. and the Subsidiaries are members of an affiliated group, as that term is defined in Section 1504 of the Internal Revenue Code of 1986, as amended (the “Code”), which expects to file a consolidated federal income tax return
for each taxable year during which the Subsidiaries are includible corporations qualified to so file; and 
 WHEREAS, it is desirable for the
Subsidiaries and ING U.S. to enter into this Agreement to provide for the manner of computation of the amounts and timing of payments with regard thereto by ING U.S. to the Subsidiaries and by the Subsidiaries to ING U.S., and various related
matters; 
 NOW, THEREFORE, in consideration of the agreements contained herein and of other good and valuable consideration, the receipt and
sufficiency of which are hereby acknowledged, the parties hereby agree as follows: 
  

	1.	AMOUNT OF PAYMENTS 

  

	 	a.	General — For each taxable year during which a Subsidiary is included in a consolidated federal income tax return with ING U.S., the Subsidiary will pay to
ING U.S. an amount equal to the regular federal income tax liability (including any interest, penalties and other additions to tax) that such Subsidiary would pay on its taxable income if it were filing a separate, unconsolidated return, provided
that (i) Tax Assets (as defined herein) will be treated in accordance with subsection (b) of this section, (ii) intercompany transactions will be treated in accordance with income tax regulations governing intercompany transactions in
consolidated returns and subject to any election which may be made by ING U.S. with regard thereto; (iii) the Subsidiary’s payment will be increased to the extent that such Subsidiary generates Other Taxes, as determined in accordance with
subsection (d) of this section; (iv) such computation will be made as though the highest rate of tax specified in subsection (b) of Section 11 of the Code were the only rate set forth in that subsection, and (v) such
computation shall reflect the positions, elections and accounting methods used by ING U.S. in preparing the consolidated federal income tax return for ING U.S. and its Subsidiaries. 

 

	 	b.	 Tax Assets — “Tax Asset” shall mean any net operating loss, net capital loss, investment tax credit, foreign tax credit,
charitable deduction, dividends received deduction or any other deduction, credit or tax attribute, including carryovers and carrybacks of such attributes, which could reduce taxes. Except as provided in subsection (c) of this section, for each
taxable year during which the Subsidiary is included in a consolidated federal income tax return with ING U.S., ING U.S. will pay to the Subsidiary an amount equal to the tax benefit of the Subsidiary’s Tax

	 	
Assets to the extent such Tax Assets are utilized in the reduction of the consolidated Federal income tax liability of the ING U.S. group. The extent to which Tax Assets are actually utilized
will be determined in accordance with Income Tax Regulations Sections 1.1552-1(a)(2) and 1.1502-33(d)(3) using a fixed percentage of one hundred. 

  

	 	c.	Separate Return Years — To the extent any portion of a Tax Asset of the affiliated group is carried back to a pre-consolidation separate return year of a
Subsidiary (whether by operation of law or at the discretion of ING U.S.) the Subsidiary shall not be entitled to payment with respect thereto. This shall be the case whether or not that Subsidiary actually receives payment for the benefit of such
Tax Asset from the Internal Revenue Service (“IRS”) or from the parent of a former affiliated group. 

  

	 	d.	Other Taxes — For any taxable year in which the affiliated group incurs taxes (other than the alternative minimum tax) such as ITC recapture, environmental
tax, etc. (“Other Taxes”), such taxes, to the extent directly allocable to particular members of the affiliated group, will be paid by such members. To the extent such taxes are not directly allocable to particular members of the
affiliated group, such taxes will be paid by ING U.S. and/or the Subsidiaries producing the attributes that give rise to such taxes, in the proportion that such attributes bear to the total amount of such attributes. 

 

	 	e.	Alternative Minimum Tax (“AMT”) and Related Minimum Tax Credit (“MTC”) — For any taxable year in which the affiliated group incurs an
AMT or utilizes a MTC, the Subsidiaries producing the attributes that give rise to the AMT or MTC shall pay to, or receive from, ING U.S. such AMT or MTC amount respectively. The calculation of the AMT or MTC shall be subject to a methodology
determined by ING U.S. in its sole discretion, provided, however, that any method adopted by ING U.S. shall not be changed without prior notification to all affected Subsidiaries. Any payments required under this subsection are in addition to
payments required under the previous subsections. 

  

	 	f.	Unless specifically approved in writing, all payments made pursuant to this Agreement by a Subsidiary shall be made by that Subsidiary, and not by any other company or
business unit on behalf of such Subsidiary. 

  

	2.	INSTALLMENT PAYMENTS 

  

	 	a.	Determination and Timing — During and following a taxable year in which a Subsidiary is included in a consolidated federal income tax return with ING U.S.,
it shall pay to ING U.S., or receive from ING U.S., as the case may be, installment payments of the amount determined pursuant to section 1 of this Agreement. Payments shall take place on the dates, on the bases of calculations, and in amounts that
produce cumulative installments, as follows: 

  
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	 DATE
	  	 BASIS OF CALCULATION
	  	 CUMULATIVE INSTALLMENT

	 April 15
	  	Prior year annual financial statement	  	25% of tax liability as determined in prior year financial statements results updated for known adjustments
			
	 June 15
	  	March 31 three month financial statement	  	50% of tax liability as determined by current financial statement annualized results
			
	 September 15
	  	June 30 six month financial statement	  	75% of tax liability as determined by current financial statement annualized results
			
	 December 15
	  	September 30 nine month financial statement	  	100% of tax liability as determined by current financial statement annualized results
			
	 March 15
	  	Year-end annual financial statement	  	100% of tax liability as determined by actual financial statements results for prior year updated for known adjustments
			
	Not later than September 15 of the following year	  	Final tax return	  	100% of tax liability for prior year

  

	 	  	The due dates, basis of calculation and cumulative installments set forth above and made during a taxable year are intended to correspond to the applicable percentages
as set forth in Section 6655(e)(2)(B)(ii) of the Code. Should the Code be amended to alter such provisions, it is hereby agreed by the parties to this Agreement that the provisions will correspondingly change. In determining the annualization
of the quarterly estimated payments, ING U.S. may make appropriate adjustment for unusual, infrequent or non-recurring items. ING U.S. may revise the schedule of installment payments set forth in this paragraph, and in the case of any subsidiary
other than an insurer subsidiary may provide for annual rather than quarterly payments where the annual payment due does not exceed $500,000 although any such change shall be prospective and shall not take effect prior to written notice to the
Subsidiaries. 

  

	 	b.	Estimated Taxes and Other Amounts — ING U.S. shall pay required installments of federal estimated taxes pursuant to Code section 6655, and such other
amounts with respect to taxes shown on the consolidated return for the taxable year pursuant to any other applicable provision of the Code (“tax payment”), to the IRS on behalf of itself and each Subsidiary. ING U.S. shall have the sole
right to determine the amount of each such tax payment with respect to the affiliated group’s tax liability for the taxable year. 

  
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	 	c.	Additional Payments by Subsidiary — Should the amount of any tax payment made by ING U.S. under this section exceed the sum of installment payments made by
all Subsidiaries for any corresponding installment date pursuant to section 2 of this Agreement, ING U.S. may, in its sole discretion, determine such Subsidiary’s fair and reasonable share of that excess, and within 30 days of such
determination shall notify such Subsidiary thereof and such amount shall be paid over to ING U.S. within 15 business days of the date of notification by ING U.S. Should ING U.S. make any tax payment to the IRS on a date that does not correspond to
the installment dates pursuant to section 2, ING U.S. shall notify such Subsidiary within 30 days of any such tax payment and, within 15 business days of such notification, each Subsidiary will pay over to ING U.S. an amount which ING U.S. may in
its sole discretion, determine to be due from such Subsidiary. 

  

	 	d.	Penalty in Addition to Tax — If a penalty or an addition to tax for underpayment of estimated taxes is imposed on the affiliated group with respect to any
required installment under section 6655 of the Code, ING U.S. shall, in its sole discretion, determine the amount of each Subsidiary’s share of such penalty or addition to tax, which amount shall be paid over to ING U.S. within 15 business days
of the date of notification by ING U.S. 

  

	3.	ADJUSTED RETURNS — If any adjustments are made to the income, gains, losses, deductions or credits of the affiliated group for a taxable year during
which a Subsidiary is a member, whether by reason of the filing of an amended return, or a claim for refund with respect to such taxable year, or an audit with respect to such taxable year by the IRS, the amounts due under this Agreement for such
taxable year shall be redetermined by taking into account such adjustments. If, as a result of such redetermination, any amounts due under this Agreement shall differ from the amounts previously paid, then, except as provided in section 6 hereof,
payment of such difference shall be made by the Subsidiary to ING U.S. or by ING U.S. to the Subsidiary, as the case may be, (a) in the case of an adjustment resulting in a refund or credit, not later than thirty (30) days after the date
on which such refund is received or credit is allowed with respect to such adjustment or (b) in the case of an adjustment resulting in the assertion of a deficiency, not later than thirty (30) days after the Subsidiary is notified of the
deficiency. Any amounts due to or from a Subsidiary under this section shall be determined with respect to such refund or deficiency and any penalties, interest or other additions to tax which may be imposed. 

 

	4.	PROCEDURAL MATTERS — ING U.S. shall prepare and file the consolidated federal income tax return and any other returns, documents or statements
required to be filed with the IRS with respect to the determination of the federal income tax liability of the affiliated group. In its sole discretion, ING U.S. shall have the right with respect to any consolidated federal income tax returns which
it has filed or will file, (a) to determine (i) the manner in which such returns, documents or statements shall be prepared and filed, including, without limitation, the manner in which any item of income, gain, loss, deduction or credit
shall be reported, (ii) whether any extensions may be requested and (iii) the elections that will be made by any Subsidiary, (b) to contest, compromise or settle any adjustment or deficiency proposed, asserted or assessed as a result
of any audit of such returns by the IRS, (c) to file, prosecute, compromise or settle any claim for refund and (d) to determine whether any refunds to which the affiliated group may be entitled shall be paid by way of refund or credited
against the tax liability of the affiliated group. Each Subsidiary hereby irrevocably appoints ING U.S. as its agent and attorney-in-fact to take such action (including the execution of documents) as ING U.S. may deem appropriate to effect the
foregoing. 

  
 -4-

	5.	ADDITIONAL MEMBERS — If future subsidiaries are acquired or created and they participate in the consolidated federal income tax filing, such
subsidiaries shall join in and be bound by this Agreement. This section will also apply to subsidiaries that are not eligible immediately to join the group, when they become eligible to join the group. 

 

	6.	COMPANIES LEAVING GROUP — Except as specifically treated to the contrary herein, a Subsidiary shall be treated as having withdrawn from this
Agreement when that Subsidiary ceases to be a member of the affiliated group. Notwithstanding any provision to the contrary in section 2 hereof, amounts payable to or receivable from ING U.S. shall be recomputed with respect to the withdrawing
Subsidiary, including an estimate of the remaining taxes actually payable or receivable upon the filing of the consolidated tax return for the year of withdrawal, as of the last day such Subsidiary is a member of the affiliated group. Any amounts so
computed as due to or from ING U.S. to or from an existing Subsidiary shall be paid prior to its leaving the group, provided, however, that any deficiency or excess of taxes determined on the basis of the tax return filed for the year of withdrawal,
and paid to or from ING U.S. related to the tax liability of the withdrawing Subsidiary for the portion of the year of withdrawal during which it had been a member of the affiliated group, shall be settled not later than November 15 of the year
following the year of the date of withdrawal, in accordance with section 2 of this Agreement. 

  

	  	The extent to which ING U.S. or such Subsidiary is entitled to any other payments as a result of adjustments, as provided in section 3 hereof, determined after such
Subsidiary has left the affiliated group but affecting any taxable year during which this Agreement was in effect with respect to ING U.S. and such Subsidiary, shall be provided for pursuant to a separate written agreement between ING U.S. and the
former Subsidiary, or its new owner, or in the absence of such agreement, pursuant to the provision of section 3 hereof. Tax benefits arising from the Tax Assets of former Subsidiaries carried back to tax years during which a Subsidiary was a member
of the affiliated group shall not be refunded to the Subsidiary, unless specifically provided for pursuant to a separate written agreement between ING U.S. and the former Subsidiary, or its new owner. 

 

	 	  	In the case of any Tax Asset of a Subsidiary (i) that arose in a consolidated taxable year during which it was a member of the affiliated group, (ii) for
which the Subsidiary was paid by ING U.S. pursuant to Section 1(b) of this Agreement, and (iii) which has not been utilized in the reduction of the consolidated federal income tax liability of the affiliated group for any consolidated
taxable period ending on or before the date that the Subsidiary leaves the group, the Subsidiary shall repay to ING U.S. prior to the time it leaves the group the amount of the tax benefit previously received with respect to the Tax Asset.

  
 -5-

	7.	BOOKS AND RECORDS — The books, accounts and records of ING U.S. and the Subsidiaries shall be maintained so as to provide clearly and accurately the
information required for the operation of this Agreement. Notwithstanding termination of this Agreement, all returns, supporting schedules, and correspondence relating to the consolidated federal income tax return shall be made available to ING U.S.
and/or any Subsidiary during regular business hours. Records will be retained by ING U.S. and by the Subsidiary, in a manner satisfactory to ING U.S., adequate to comply with any audit request by the IRS or appropriate State taxing authority, and,
in any event to comply with any record retention agreement entered into by ING U.S. or any Subsidiary with such taxing authority. 

  

	8.	EARNINGS AND PROFITS — The earnings and profits of ING U.S. and the Subsidiaries shall be determined during the period in which they are members of
the affiliated group filing a consolidated tax return by allocating the consolidated tax liability in accordance with Income Tax Regulations §§1.1552-l(a)(2) and 1.1502-33(d)(3). 

 

	9.	ESCROW AGREEMENTS — The parties hereto agree that, to the extent required by applicable law, they shall enter into and file with appropriate
jurisdictions any escrow agreements or similar contractual arrangements with respect to the taxes covered by this Agreement. The terms of such agreements shall, to the extent set forth therein, and with respect to the parties thereto, prevail over
the terms of this Agreement. 

  

	10.	TERMINATION — This Agreement shall be terminated if ING U.S. and the Subsidiaries agree in writing to such termination or if the affiliated group
fails to file a consolidated federal income tax return for any taxable year. No termination may be made without the prior written notice to the domiciliary state regulator of any insurer subsidiary that is a party hereto. Notwithstanding the
termination of this Agreement, unless otherwise mutually agreed between ING U.S. and any terminating Subsidiary, its provisions will remain in effect for any period of time during the taxable year in which termination occurs for which the income or
loss of such Subsidiary must be included in the consolidated return, and this Agreement will remain in effect in any prior period for which such Subsidiary is a member of the affiliated group. 

 

	11.	ADMINISTRATION — This Agreement shall be administered by the Senior Vice President, Tax or, in his/her absence, by any other officer of ING
U.S. so designated by the Chief Financial Officer of ING U.S. In the administration of this Agreement and the previous agreement, there shall be no duplication or omission of amounts. To the extent a Tax Asset has been settled under the previous
agreement, it will not be considered in settlements under this Agreement. (For example, if ING U.S. paid a life insurance Subsidiary an amount equal to the tax benefit of a net operating loss under the previous agreement and if the life insurance
Subsidiary reported taxable income for a taxable year subject to this Agreement but before the net operating loss is utilized by the affiliated group, ING U.S. would not be obligated to pay the life insurance Subsidiary an amount equal to the tax
benefit on the utilization of such loss and the Subsidiary would settle with ING U.S. as if the loss was not available in the determination of the settlement). The ordering on the utilization of Tax Assets shall be determined by the Senior Vice
President, Tax and shall generally follow the Internal Revenue Code and regulations unless written notice is provided to the Subsidiaries. Disputes between ING U.S. and any Subsidiary shall be resolved by the Senior Vice President, Tax or other
designated officer and the senior financial officer of each Subsidiary involved in the dispute. 

  
 -6-

	12.	PERIOD COVERED — This Agreement shall be effective January 1, 2013 with respect to each party thereto upon signing by such party. Taxable
periods prior to January 1, 2013 shall be administered and settled under the previous agreement. This Agreement supersedes the previous tax sharing agreement and associated joinders for taxable periods beginning on or after January 1,
2013. To the extent that amounts have been or will be settled under the previous agreement, the determination and settlement shall be unchanged by this Agreement. This Agreement shall apply to the taxable year 2013, and to all subsequent periods
unless and until amended, or terminated as provided in section 10 hereof. 

  

	13.	SCOPE OF THIS AGREEMENT 

  

	 	a.	This Agreement sets forth the entire understanding of the parties and, pursuant to section 12, supersedes any previous agreement on the subject matter hereof with
respect to taxable periods arising on or after January 1, 2013. 

  

	 	b.	State Income Tax Sharing Agreement. Some of the parties have also adopted a State Income Tax Sharing Agreement, which is described in a separate document, and is
not incorporated into this Agreement. 

  

	 	c.	Limited Liability Companies. ING U.S. and its subsidiaries own 100% of the membership interests in several limited liability companies (“wholly-owned
LLCs”). Those wholly-owned LLCs that are disregarded for Federal income tax purposes under Treasury Regulation §301.7701-3 are not parties to this Agreement. Those wholly-owned LLCs that have elected taxation as a corporation for Federal
income tax purposes under Treasury Regulation §301.7701-3 are parties to this Agreement. 

  

	 	d.	Partnerships. ING U.S. and its subsidiaries own controlling interests in several entities which are treated as partnerships for Federal income tax purposes.
Those partnerships are not taxed as separate legal entities, and therefore, are not parties to this Agreement. 

  

	14.	MISCELLANEOUS — This Agreement may not be assigned by any party without the prior written consent of the other parties and the prior written approval
of the domiciliary state regulator of any insurer subsidiary that is a party hereto. Other than matters addressed in sections 5 and 6 of this Agreement, no amendment may be made without the prior written approval of the domiciliary state regulator
of any insurer subsidiary that is a party hereto. If any portion of this Agreement is invalid under any applicable statute or rule of law, it shall not affect the remainder of this Agreement which shall remain valid and binding. This Agreement shall
be binding upon and inure to the benefit of the parties hereto and their respective successors and permitted assigns. This Agreement shall be construed in accordance with and governed by the laws of the State of Georgia, the state in which this
Agreement is administered, without regard to principles of conflict of laws. 

  
 -7-

	15.	ARBITRATION — Any controversy or claim as to the breach of this Agreement resulting from a dispute arising out of or relating to this Agreement,
shall be settled by arbitration in accordance with the Rules of the American Arbitration Association and judgment upon the award may be entered in any court having jurisdiction thereof. 

 

	16.	INDEMNIFICATION — ING U.S. will indemnify and hold each subsidiary harmless against any: i) income tax liability incurred pursuant to Treasury
Regulation 1.1502-6 or any successor provision (including any related interest, penalties or other additions) that is attributable solely to the inclusion of the Subsidiary in an ING U.S. consolidated federal income tax return and ii) interest,
penalties or other additions incurred by reason of the late filing of any return or the late payment of any tax unless such interest, penalties or other additions are attributable to any act or failure of the Subsidiary. 

  
 -8-

 IN WITNESS WHEREOF, the parties hereto have executed this Federal Income Tax Sharing
Agreement this 20th day of February 2013. 

 

							
				
	ILICA Inc.	 		 	By:	 	/s/ David Pendergrass
		 		 		 	Name:  David Pendergrass
		 		 		 	Title:    Senior Vice President and Treasurer

  

							
				
	ING America Equities, Inc.	 		 	By:	 	/s/ David Pendergrass
		 		 		 	Name:  David Pendergrass
		 		 		 	Title:    Vice President and Treasurer

  

							
				
	ING Financial Partners, Inc.	 		 	By:	 	/s/ David Pendergrass
		 		 		 	Name:  David Pendergrass
		 		 		 	Title:    Vice President and Treasurer

  

							
				
	ING Financial Products Company, Inc.	 		 	By:	 	/s/ David Pendergrass
		 		 		 	Name:  David Pendergrass
		 		 		 	Title:    Vice President and Treasurer

  

							
				
	ING Institutional Plan Services, LLC	 		 	By:	 	/s/ David Pendergrass
		 		 		 	Name:  David Pendergrass
		 		 		 	Title:    Vice President and Treasurer

  

							
				
	ING Insurance Services, Inc.	 		 	By:	 	/s/ David Pendergrass
		 		 		 	Name:  David Pendergrass
		 		 		 	Title:    Senior Vice President and Treasurer

  

							
				
	ING International Nominee Holdings, Inc.	 		 	By:	 	/s/ David Pendergrass
		 		 		 	Name:  David Pendergrass
		 		 		 	Title:    Senior Vice President and Treasurer

  

							
				
	ING Investment Management LLC	 		 	By:	 	/s/ Daniel F. Wilcox
		 		 		 	Name:  Daniel F. Wilcox  
		 		 		 	Title:    Managing Director

  

							
				
	ING Investment Trust Co.	 		 	By:	 	/s/ Daniel F. Wilcox
		 		 		 	Name:  Daniel F. Wilcox  
		 		 		 	Title:    Managing Director    

  

							
				
	ING Life Insurance and Annuity Company	 		 	By:	 	/s/ David Pendergrass
		 		 		 	Name:  David Pendergrass
		 		 		 	Title:    Senior Vice President and Treasurer

  
 -9-

							
				
	ING National Trust	 		 	By:	 	/s/ David Pendergrass
		 		 		 	Name:  David Pendergrass
		 		 		 	Title:    Vice President and Treasurer

  

							
				
	ING North America Insurance Corporation	 		 	By:	 	/s/ David Pendergrass
		 		 		 	Name:  David Pendergrass
		 		 		 	Title:    Senior Vice President and Treasurer

  

							
				
	ING Payroll Management, Inc.	 		 	By:	 	/s/ David Pendergrass
		 		 		 	Name:  David Pendergrass
		 		 		 	Title:    Vice President and Treasurer

  

							
				
	ING U.S., Inc.	 		 	By:	 	/s/ David Pendergrass
		 		 		 	Name:  David Pendergrass
		 		 		 	Title:    Senior Vice President and Treasurer

  

							
				
	ING USA Annuity and Life Insurance Company	 		 	By:	 	/s/ David Pendergrass
		 		 		 	Name:  David Pendergrass
		 		 		 	Title:    Senior Vice President and Treasurer

  

							
				
	Langhorne I, LLC	 		 	By:	 	/s/ David Pendergrass
		 		 		 	Name:  David Pendergrass
		 		 		 	Title:    Director

  

							
				
	Lion Connecticut Holdings Inc.	 		 	By:	 	/s/ David Pendergrass
		 		 		 	Name:  David Pendergrass
		 		 		 	Title:    Senior Vice President and Treasurer

  

							
				
	Lion Custom Investments LLC	 		 	By:	 	/s/ David Pendergrass
		 		 		 	Name:  David Pendergrass   
		 		 		 	Title:    Senior Vice President and Treasurer

  

							
				
	Midwestern United Life Insurance Company	 		 	By:	 	/s/ David Pendergrass
		 		 		 	Name:  David Pendergrass   
		 		 		 	Title:    Senior Vice President and Treasurer

  

							
				
	Rancho Mountain Properties, Inc.	 		 	By:	 	/s/ David Pendergrass
		 		 		 	Name:  David Pendergrass
		 		 		 	Title:    Senior Vice President and Treasurer

  

							
				
	ReliaStar Life Insurance Company	 		 	By:	 	/s/ David Pendergrass
		 		 		 	Name:  David Pendergrass
		 		 		 	Title:    Senior Vice President and Treasurer

  
 -10-

							
				
	Roaring River, LLC	 		 	By:	 	/s/ David Pendergrass
		 		 		 	Name:  David Pendergrass
		 		 		 	Title:    Vice President and Treasurer

  

							
				
	Roaring River II, LLC	 		 	By:	 	/s/ David Pendergrass
		 		 		 	Name:  David Pendergrass
		 		 		 	Title:    Vice President and Treasurer

  

							
				
	Roaring River III, LLC	 		 	By:	 	/s/ David Pendergrass
		 		 		 	Name:  David Pendergrass
		 		 		 	Title:    Vice President and Treasurer

  

							
				
	Security Life Assignment Corp.	 		 	By:	 	/s/ David Pendergrass
		 		 		 	Name:  David Pendergrass
		 		 		 	Title:    Senior Vice President and Treasurer

  

							
				
	Security Life of Denver Insurance Company	 		 	By:	 	/s/ David Pendergrass
		 		 		 	Name:  David Pendergrass
		 		 		 	Title:    Senior Vice President and Treasurer

  

							
				
	Security Life of Denver International Limited	 		 	By:	 	/s/ David Pendergrass
		 		 		 	Name:  David Pendergrass
		 		 		 	Title:    Vice President and Treasurer

  

							
				
	SLDI Georgia Holdings, Inc.	 		 	By:	 	/s/ David Pendergrass
		 		 		 	Name:  David Pendergrass
		 		 		 	Title:    Senior Vice President and Treasurer

  

							
				
	Systematized Benefits Administrators, Inc.	 		 	By:	 	/s/ David Pendergrass
		 		 		 	Name:  David Pendergrass   
		 		 		 	Title:    Vice President and Treasurer

  

							
				
	Whisperingwind II, LLC	 		 	By:	 	/s/ David Pendergrass
		 		 		 	Name:  David Pendergrass   
		 		 		 	Title:    Vice President and Treasurer

  

							
				
	Whisperingwind III, LLC	 		 	By:	 	/s/ David Pendergrass
		 		 		 	Name:  David Pendergrass   
		 		 		 	Title:    Vice President and Treasurer

  
 -11-

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