Document:

Exhibit 10.1

Jupiter Wellness Acquisition Corp.

1061 E. Indiantown Road, Suite 110

Jupiter, FL 33477

 

 

September 20, 2021

 

 

Jupiter Wellness Sponsor LLC

1061 E. Indiantown Road, Suite 110

Jupiter, FL 33477

 

RE: Securities Subscription Agreement 

 

 Ladies and Gentlemen:

 

This agreement (the “Agreement”)
is entered into on September 20, 2021 by and between Jupiter Wellness Sponsor LLC, a Delaware limited liability company (the “Subscriber”
or “you”), and Jupiter Wellness Acquisition Corp. a Delaware corporation (the “Company”, “we”
or “us”). Pursuant to the terms hereof, the Company hereby accepts the offer the Subscriber has made to purchase 2,875,000
shares of Class B common stock, $0.0001 par value per share (the “Shares”), up to 375,000 of which are subject
to forfeiture by you if the underwriters of the initial public offering (“IPO”) of units (“Units”)
of the Company, do not fully exercise their over-allotment option (the “Over-allotment Option”). The Company and the
Subscriber’s agreements regarding such Shares are as follows:

 

1.            Purchase
of Securities.

 

1.1.  Purchase of
Shares. For the sum of $50,000 (the “Purchase Price”), which the Company acknowledges receiving in cash, the Company
hereby issues the Shares to the Subscriber, and the Subscriber hereby purchases the Shares from the Company, subject to forfeiture, on
the terms and subject to the conditions set forth in this Agreement.  Concurrently with the
Subscriber’s execution of this Agreement, the Company shall, at its option, deliver to the Subscriber a certificate registered in
the Subscriber’s name representing the shares (the “Original Certificate”), or effect such delivery in book-entry
form.

 

2.            Representations,
Warranties and Agreements.

 

2.1.   Subscriber’s
Representations, Warranties and Agreements. To induce the Company to issue the Shares to the Subscriber, the Subscriber hereby represents
and warrants to the Company and agrees with the Company as follows:

 

2.1.1.          No
Government Recommendation or Approval. The Subscriber understands that no federal or state agency has passed upon or made any recommendation
or endorsement of the offering of the Shares.

 

2.1.2.          No
Conflicts. The execution, delivery and performance of this Agreement and the consummation by the Subscriber of the transactions contemplated
hereby do not violate, conflict with or constitute a default under (i) the formation and governing documents of the Subscriber, (ii) any
agreement, indenture or instrument to which the Subscriber is a party or (iii) any law, statute, rule or regulation to which the
Subscriber is subject, or any agreement, order, judgment or decree to which the Subscriber is subject.

 

2.1.3.          Organization
and Authority. The Subscriber is a Delaware limited liability company, validly existing and in good standing under the laws of Delaware
and possesses all requisite power and authority necessary to carry out the transactions contemplated by this Agreement. Upon execution
and delivery by you, this Agreement is a legal, valid and binding agreement of Subscriber, enforceable against Subscriber in accordance
with its terms, except as such enforceability may be limited by applicable bankruptcy, insolvency, fraudulent conveyance or similar laws
affecting the enforcement of creditors’ rights generally and subject to general principles of equity (regardless of whether enforcement
is sought in a proceeding at law or in equity). 

    	 	 	 

    	 	 	 

    

 

2.1.4.          Experience,
Financial Capability and Suitability. Subscriber is: (i) sophisticated in financial matters and is able to evaluate the risks
and benefits of the investment in the Shares and (ii) able to bear the economic risk of its investment in the Shares for an indefinite
period of time because the Shares have not been registered under the Securities Act (as defined below) and therefore cannot be sold unless
subsequently registered under the Securities Act or an exemption from such registration is available. Subscriber is capable of evaluating
the merits and risks of its investment in the Company and has the capacity to protect its own interests. Subscriber must bear the economic
risk of this investment until the Shares are sold pursuant to: (i) an effective registration statement under the Securities Act or
(ii) an exemption from registration available with respect to such sale. Subscriber is able to bear the economic risks of an investment
in the Shares and to afford a complete loss of Subscriber’s investment in the Shares.

 

2.1.5.          Access
to Information; Independent Investigation. Prior to the execution of this Agreement, the Subscriber has had the opportunity to ask
questions of and receive answers from representatives of the Company concerning an investment in the Company, as well as the finances,
operations, business and prospects of the Company, and the opportunity to obtain additional information to verify the accuracy of all
information so obtained. In determining whether to make this investment, Subscriber has relied solely on Subscriber’s own knowledge
and understanding of the Company and its business based upon Subscriber’s own due diligence investigation and the information furnished
pursuant to this paragraph. Subscriber understands that no person has been authorized to give any information or to make any representations
which were not furnished pursuant to this Section 2 and Subscriber has not relied on any other representations or information
in making its investment decision, whether written or oral, relating to the Company, its operations and/or its prospects.

 

2.1.6.          Regulation
D Offering. Subscriber represents that it is an “accredited investor” as such term is defined in Rule 501(a) of Regulation D
under the Securities Act of 1933, as amended (the “Securities Act”) and acknowledges the sale contemplated hereby is
being made in reliance on a private placement exemption to “accredited investors” within the meaning of Section 501(a)
of Regulation D under the Securities Act or similar exemptions under state law.

 

2.1.7.          Investment
Purposes. The Subscriber is purchasing the Shares solely for investment purposes, for the Subscriber’s own account and not for
the account or benefit of any other person, and not with a view towards the distribution or dissemination thereof. The Subscriber did
not decide to enter into this Agreement as a result of any general solicitation or general advertising within the meaning of Rule 502
under the Securities Act.

 

2.1.8.          Restrictions
on Transfer; Shell Company. Subscriber understands the Shares are being offered in a transaction not involving a public offering within
the meaning of the Securities Act. Subscriber understands the Shares will be “restricted securities” within the meaning of
Rule 144(a)(3) under the Securities Act, and Subscriber understands that the certificates or book-entries representing the Shares
will contain a legend in respect of such restrictions. If in the future the Subscriber decides to offer, resell, pledge or otherwise transfer
the Shares, such Shares may be offered, resold, pledged or otherwise transferred only pursuant to: (i) registration under the Securities
Act, or (ii) an available exemption from registration. Subscriber agrees that if any transfer of its Shares or any interest therein
is proposed to be made, as a condition precedent to any such transfer, Subscriber may be required to deliver to the Company an opinion
of counsel satisfactory to the Company. Absent registration or an exemption, the Subscriber agrees not to resell the Shares. Subscriber
further acknowledges that because the Company is a shell company, Rule 144 may not be available to the Subscriber for the resale
of the Shares until one year following consummation of the initial business combination of the Company, despite technical compliance with
the requirements of Rule 144 and the release or waiver of any contractual transfer restrictions.

 

2.1.9.          No
Governmental Consents. No governmental, administrative or other third party consents or approvals are required, necessary or appropriate
on the part of Subscriber in connection with the transactions contemplated by this Agreement.

 

2.2.  Company’s
Representations, Warranties and Agreements. To induce the Subscriber to purchase the Shares, the Company hereby represents and warrants
to the Subscriber and agrees with the Subscriber as follows:

 

2.2.1.          Organization
and Corporate Power. The Company is a Delaware corporation and is qualified to do business in every jurisdiction in which the failure
to so qualify would reasonably be expected to have a material

    	 	 	 

    	 	 	 

    

 

adverse effect on the financial condition, operating
results or assets of the Company. The Company possesses all requisite corporate power and authority necessary to carry out the transactions
contemplated by this Agreement.

 

2.2.2.          No
Conflicts. The execution, delivery and performance of this Agreement and the consummation by the Company of the transactions contemplated
hereby do not violate, conflict with or constitute a default under (i) the Certificate of Incorporation or Bylaws of the Company,
(ii) any agreement, indenture or instrument to which the Company is a party or (iii) any law, statute, rule or regulation to
which the Company is subject, or any agreement, order, judgment or decree to which the Company is subject.

 

2.2.3.          Title
to Securities. Upon issuance in accordance with, and payment pursuant to, the terms hereof, the Shares will be duly and validly issued,
fully paid and nonassessable. Upon issuance in accordance with, and payment pursuant to, the terms hereof, the Subscriber will have or
receive good title to the Shares, free and clear of all liens, claims and encumbrances of any kind, other than (a) transfer restrictions
hereunder and other agreements to which the Shares may be subject which have been notified to the Subscriber in writing, (b) transfer
restrictions under federal and state securities laws, and (c) liens, claims or encumbrances imposed due to the actions of the Subscriber.

 

2.2.4.          No
Adverse Actions. There are no actions, suits, investigations or proceedings pending, threatened against or affecting the Company that:
(i) seek to restrain, enjoin, prevent the consummation of or otherwise affect the transactions contemplated by this Agreement or
(ii) question the validity or legality of any transactions or seeks to recover damages or to obtain other relief in connection with
any transactions.

 

3.            Forfeiture
of Shares.

 

3.1.  Partial or
No Exercise of the Over-allotment Option. In the event the Over-allotment Option granted to the underwriters of the IPO is not exercised
in full, the Subscriber acknowledges and agrees that it (or, if applicable, it and any transferees of Shares) shall forfeit any and all
rights to such number of Shares (up to an aggregate of 375,000 Shares and pro rata based upon the percentage of the Over-allotment Option
exercised) such that immediately following such forfeiture, the Subscriber (and all other initial stockholders prior to the IPO, if any)
will own an aggregate number of Shares (not including any placement Units that are expected to be purchased at the closing of the IPO,
Shares issuable upon exercise of any warrants or any Common Stock purchased by Subscriber in the IPO or in the aftermarket) equal to 20%
of the issued and outstanding Shares immediately following the IPO.

 

3.2.  Termination
of Rights as Stockholder. If any of the Shares are forfeited in accordance with this Section 3, then after such time the
Subscriber (or successor in interest), shall no longer have any rights as a holder of such forfeited Shares, and the Company shall take
such action as is appropriate to cancel such forfeited Shares.

 

3.3.  Share Certificates.
In the event an adjustment to the Original Certificates, if any, is required pursuant to this
Section 3, then the Subscriber shall return such Original Certificates to the Company or its designated agent as soon as practicable
upon its receipt of notice from the Company advising Subscriber of such adjustment, following which a new certificate (the “New
Certificate”), if any, shall be issued in such amount representing the adjusted number of Shares held by the Subscriber. The
New Certificate, if any, shall be returned to the Subscriber as soon as practicable. Any such adjustment for any uncertificated securities
held by the Subscriber shall be made in book-entry form.

 

4.            Waiver
of Liquidation Distributions; Redemption Rights. In connection with the Shares purchased pursuant to this Agreement, the Subscriber
hereby waives any and all right, title, interest or claim of any kind in or to any distributions by the Company from the trust account
which will be established for the benefit of the Company’s public stockholders and into which substantially all of the proceeds
of the IPO will be deposited (the “Trust Account”), in the event of a liquidation of the Company upon the Company’s
failure to timely complete an initial business combination. For purposes of clarity, in the event the Subscriber purchases Shares in
the IPO or in the aftermarket, any additional Shares so purchased shall be eligible to receive any liquidating distributions by the Company.
However, in no event will the Subscriber have the right to redeem any Shares into funds held in the Trust Account upon the successful
completion of an initial business combination. 

    	 	 	 

    	 	 	 

    

 

5.            Restrictions
on Transfer.

 

5.1.  Securities
Law Restrictions. In addition to any restrictions to be contained in that certain letter agreement (commonly known as an “Insider
Letter”) to be dated as of the closing of the IPO by and between Subscriber and the Company, Subscriber agrees not to sell,
transfer, pledge, hypothecate or otherwise dispose of all or any part of the Shares unless, prior thereto (a) a registration statement
on the appropriate form under the Securities Act and applicable state securities laws with respect to the Shares proposed to be transferred
shall then be effective or (b) the Company has received an opinion from counsel reasonably satisfactory to the Company, that such
registration is not required because such transaction is exempt from registration under the Securities Act and the rules promulgated by
the Securities and Exchange Commission thereunder and with all applicable state securities laws. 

 

5.2.   Lock-up.
Subscriber acknowledges that the Securities will be subject to lock-up provisions (the “Lock-up”) contained in the
Insider Letter.

 

5.3.   Restrictive
Legends. Any certificates representing the Shares shall have endorsed thereon legends substantially as follows:

 

“THE SECURITIES REPRESENTED HEREBY HAVE NOT
BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED, OR ANY STATE SECURITIES LAWS AND NEITHER THE SECURITIES NOR ANY INTEREST
THEREIN MAY BE OFFERED, SOLD, TRANSFERRED, PLEDGED OR OTHERWISE DISPOSED OF EXCEPT PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT UNDER
SUCH ACT OR SUCH LAWS OR AN EXEMPTION FROM REGISTRATION UNDER SUCH ACT AND SUCH LAWS WHICH, IN THE OPINION OF COUNSEL, IS AVAILABLE.”

 

“THE SECURITIES REPRESENTED BY THIS CERTIFICATE
ARE SUBJECT TO A LOCKUP AND MAY NOT BE OFFERED, SOLD, TRANSFERRED, PLEDGED OR OTHERWISE DISPOSED DURING THE TERM OF THE LOCKUP.”

 

5.4.  Additional
Shares or Substituted Securities. In the event of the declaration of a share dividend, the declaration of an extraordinary dividend
payable in a form other than Shares, a spin-off, a share split, an adjustment in conversion ratio, a recapitalization or a similar transaction
affecting the Company’s outstanding Shares without receipt of consideration, any new, substituted or additional securities or other
property which are by reason of such transaction distributed with respect to any Shares subject to this Section 5 or into
which such Shares thereby become convertible shall immediately be subject to this Section 5 and Section 3. Appropriate
adjustments to reflect the distribution of such securities or property shall be made to the number and/or class of Shares subject to this
Section 5 and Section 3.

 

5.5.  Registration
Rights. Subscriber acknowledges that the Shares are being purchased pursuant to an exemption from the registration requirements of
the Securities Act and will become freely tradable only after certain conditions are met or they are registered pursuant to a registration
rights agreement to be entered into with the Company prior to the closing of the IPO.

 

6.            Other
Agreements.

 

6.1.  Further Assurances.
Subscriber agrees to execute such further instruments and to take such further action as may reasonably be necessary to carry out the
intent of this Agreement.

 

6.2.  Notices.
All notices, statements or other documents which are required or contemplated by this Agreement shall be: (i) in writing and
delivered personally or sent by first class registered or certified mail, overnight courier service or facsimile or electronic transmission
to the address designated in writing, (ii) by facsimile to the number most recently provided to such party or such other address
or fax number as may be designated in writing by such party and (iii) by electronic mail, to the electronic mail address most recently
provided to such party or such other electronic mail address as may be designated in writing by such party. Any notice or other communication
so transmitted shall be deemed to have been given on the day of delivery, if delivered personally, on the business day following receipt
of written confirmation, if sent by facsimile or electronic transmission, one (1) business day after delivery to an overnight courier
service or five (5) days after mailing if sent by mail. 

    	 	 	 

    	 	 	 

    

 

6.3.  Entire Agreement.
This Agreement, together with the Insider Letter and the Registration Rights Agreement, each substantially in the form to be filed as
an exhibit to the Registration Statement on Form S-1 associated with the Company’s IPO, embodies the entire agreement and understanding
between the Subscriber and the Company with respect to the subject matter hereof and supersedes all prior oral or written agreements and
understandings relating to the subject matter hereof. No statement, representation, warranty, covenant or agreement of any kind not expressly
set forth in this Agreement shall affect, or be used to interpret, change or restrict, the express terms and provisions of this Agreement. 

 

6.4.   Modifications
and Amendments. The terms and provisions of this Agreement may be modified or amended only by written agreement executed by all parties
hereto.

 

6.5.  Waivers and
Consents. The terms and provisions of this Agreement may be waived, or consent for the departure therefrom granted, only by a written
document executed by the party entitled to the benefits of such terms or provisions. No such waiver or consent shall be deemed to be or
shall constitute a waiver or consent with respect to any other terms or provisions of this Agreement, whether or not similar. Each such
waiver or consent shall be effective only in the specific instance and for the purpose for which it was given, and shall not constitute
a continuing waiver or consent.

 

6.6.  Assignment.
The rights and obligations under this Agreement may not be assigned by either party hereto without the prior written consent of the other
party.

 

6.7.  Benefit.
All statements, representations, warranties, covenants and agreements in this Agreement shall be binding on the parties hereto and shall
inure to the benefit of the respective successors and permitted assigns of each party hereto. Nothing in this Agreement shall be construed
to create any rights or obligations except among the parties hereto, and no person or entity shall be regarded as a third-party beneficiary
of this Agreement.

 

6.8.  Governing
Law. This Agreement and the rights and obligations of the parties hereunder shall be construed in accordance with and governed by
the laws of New York applicable to contracts wholly performed within the borders of such state, without giving effect to the conflict
of law principles thereof.

 

6.9.  Severability.
In the event that any court of competent jurisdiction shall determine that any provision, or any portion thereof, contained in this Agreement
shall be unreasonable or unenforceable in any respect, then such provision shall be deemed limited to the extent that such court deems
it reasonable and enforceable, and as so limited shall remain in full force and effect. In the event that such court shall deem any such
provision, or portion thereof, wholly unenforceable, the remaining provisions of this Agreement shall nevertheless remain in full force
and effect.

 

6.10.  No Waiver
of Rights, Powers and Remedies. No failure or delay by a party hereto in exercising any right, power or remedy under this Agreement,
and no course of dealing between the parties hereto, shall operate as a waiver of any such right, power or remedy of such party. No single
or partial exercise of any right, power or remedy under this Agreement by a party hereto, nor any abandonment or discontinuance of steps
to enforce any such right, power or remedy, shall preclude such party from any other or further exercise thereof or the exercise of any
other right, power or remedy hereunder. The election of any remedy by a party hereto shall not constitute a waiver of the right of such
party to pursue other available remedies. No notice to or demand on a party not expressly required under this Agreement shall entitle
the party receiving such notice or demand to any other or further notice or demand in similar or other circumstances or constitute a waiver
of the rights of the party giving such notice or demand to any other or further action in any circumstances without such notice or demand.

 

6.11.  Survival
of Representations and Warranties. All representations and warranties made by the parties hereto in this Agreement or in any other
agreement, certificate or instrument provided for or contemplated hereby, shall survive the execution and delivery hereof and any investigations
made by or on behalf of the parties.

 

6.12.  No Broker
or Finder. Each of the parties hereto represents and warrants to the other that no broker, finder or other financial consultant has
acted on its behalf in connection with this Agreement or the transactions contemplated hereby in such a way as to create any liability
on the other. Each of the parties hereto agrees to indemnify and save the other harmless from any claim or demand for commission or other
compensation by any broker, finder, financial

    	 	 	 

    	 	 	 

    

 

consultant or similar agent claiming to have been
employed by or on behalf of such party and to bear the cost of legal expenses incurred in defending against any such claim.

 

6.13.  Headings
and Captions. The headings and captions of the various subdivisions of this Agreement are for convenience of reference only and shall
in no way modify or affect the meaning or construction of any of the terms or provisions hereof.

 

6.14.  Counterparts.
This Agreement may be executed in one or more counterparts, all of which when taken together shall be considered one and the same agreement
and shall become effective when counterparts have been signed by each party and delivered to the other party, it being understood that
both parties need not sign the same counterpart. In the event that any signature is delivered by facsimile transmission or any other form
of electronic delivery, such signature shall create a valid and binding obligation of the party executing (or on whose behalf such signature
is executed) with the same force and effect as if such signature page were an original thereof.

 

6.15.  Construction.
The parties hereto have participated jointly in the negotiation and drafting of this Agreement. If an ambiguity or question of intent
or interpretation arises, this Agreement will be construed as if drafted jointly by the parties hereto and no presumption or burden of
proof will arise favoring or disfavoring any party hereto because of the authorship of any provision of this Agreement. The words “include,”
“includes,” and “including” will be deemed to be followed by “without limitation.”
Pronouns in masculine, feminine, and neuter genders will be construed to include any other gender, and words in the singular form will
be construed to include the plural and vice versa, unless the context otherwise requires. The words “this Agreement,”
“herein,” “hereof,” “hereby,” “hereunder,” and words of similar
import refer to this Agreement as a whole and not to any particular subdivision unless expressly so limited. The parties hereto intend
that each representation, warranty, and covenant contained herein will have independent significance. If any party hereto has breached
any representation, warranty, or covenant contained herein in any respect, the fact that there exists another representation, warranty
or covenant relating to the same subject matter (regardless of the relative levels of specificity) which such party hereto has not breached
will not detract from or mitigate the fact that such party hereto is in breach of the first representation, warranty, or covenant.

 

6.16.  Mutual Drafting.
This Agreement is the joint product of the Subscriber and the Company and each provision hereof has been subject to the mutual consultation,
negotiation and agreement of such parties and shall not be construed for or against any party hereto.

 

7.             Voting
and Tender of Shares. The Subscriber agrees to vote the Shares in favor of an initial business combination that the Company negotiates
and submits for approval to the Company’s stockholders and shall not seek redemption with respect to such Shares. Additionally,
the Subscriber agrees not to tender any Shares in connection with a tender offer presented to the Company’s stockholders in connection
with an initial business combination negotiated by the Company.

 

8.        Indemnification.
Each party shall indemnify the other against any loss, cost or damages (including reasonable attorney’s fees and expenses) incurred
as a result of such party’s breach of any representation, warranty, covenant or agreement in this Agreement.

 

[Signature Page Follows]

 

    	 	 	 

    	 	 	 

    

If the foregoing accurately sets
forth our understanding and agreement, please sign the enclosed copy of this Agreement and return it to us.

 

 

	 	Very truly yours,
	 	 
	 	JUPITER WELLNESS ACQUISITION CORP.
	 	 	 
	 	By:	/s/ Ryan Allison
	 	 	Name:  Ryan Allison
	 	 	Title:   Chief Operating Officer

 

	Accepted and agreed as of the date first written above.
	 
	JUPITER WELLNESS SPONSOR LLC
	 
	By:	/s/ Brian S. John
	 	
    Name: Brian S. John

    Title: Managing MemberService Agreement

 SERVICE AGREEMENT 

(hereinafter “the Agreement”) 

among 
 ALLSTATE LIFE INSURANCE
COMPANY OF 
 NEW YORK 

a New York domestic insurance company 

INTRAMERICA LIFE INSURANCE COMPANY 

A New York domestic insurance company 

WILTON RE SERVICES, INC. 
 a
Delaware corporation 
 and 

WILTON REASSURANCE COMPANY 

a Minnesota domestic insurance company 

(solely for purposes of Section 6) 

This Service Agreement shall be effective October 1, 2021 (hereinafter the “Effective Date”) by and among Allstate Life
Insurance Company of New York (“ALNY”), Intramerica Life Insurance Company (“Intramerica”), Wilton Re Services, Inc. (“Wilton Re Services” and together with ALNY and Intramerica, the
“Parties”), and, solely for purposes of Section 6, Wilton Reassurance Company (“WRAC”). 

WHEREAS, ALNY and Intramerica seek to obtain certain Services (as hereinafter defined in Section 1, Services), to be
provided by one or more employees of Wilton Re Services, and 
 WHEREAS, Wilton Re Services agrees to provide such Services, and 

WHEREAS, ALNY and Intramerica and Wilton Re Services wish to enter into this Agreement to formalize the terms under which the services will be
provided, including but not limited to the cost of those services. 
 NOW THEREFORE, in consideration of the premises and mutual agreements
contained herein, it is agreed that: 
  

	1.	 Services 

ALNY and Intramerica hereby agree to engage Wilton Re Services, and Wilton Re Services hereby accepts such engagement, to provide ALNY and
Intramerica, during the period beginning on the Effective Date hereof and continuing throughout the term hereof, the following services (collectively, the “Services”): 

 

	 	1.1	 IT Services: 

  

	 	(i)	 Application Support: Provide IT resources necessary to maintain and upgrade systems and applications;

	 	(ii)	 Quarter Close Support: Provide IT resources to support quarter close procedures of the actuarial and financial
user community; 

  
 1 

	 	(iii)	 Audit Support: Provide support to IT audits, carried out to comply with external regulators, internal
requirements, or for business transactions; 

	 	(iv)	 Subject Matter Support: Provide access to IT and Non-IT resources who are instrumental in
developing/maintaining applications for the purposes of knowledge transfer and subject matter expertise; and 

	 	(v)	 Other: Provide any other services related to IT infrastructure and agreed by the Parties from time to time.

  

	 	1.2	 Financial Services: 

 

	 	(i)	 Financial Statement Compilation and Analysis: Prepare periodic financial statements and analyses on bases to
be determined from time to time; 

	 	(ii)	 Regulatory Filing: Prepare and file annual, quarterly, and periodic reports; 

	 	(iii)	 Sarbanes-Oxley: Implement systems, processes and procedures required by the Sarbanes-Oxley Act of 2002 and
facilitating ongoing compliance with such systems, processes and procedures; 

	 	(iv)	 Financial Reports and Analysis: Prepare all financial reports and analysis for internal and external
dissemination; and 

	 	(v)	 Other: Provide any other services related to financial services and agreed by the Parties from time to time.

  

	 	1.3	 Claims Services: 

  

	 	(i)	 Claims Review Services: Assist in the review and analysis of claims made by reinsureds under all treaties
including, without limitation, claim reviews, audits, analysis of claims, advice regarding the contesting of claims, recommendations for settlements of claims and advice regarding the negotiation thereof, and advice regarding the payment of claims;
and 

	 	(ii)	 Other: Provide any other services related to claims and agreed by the Parties from time to time.

  

	 	1.4	 Administrative Services: 

 

	 	(i)	 Research, Development and Risk Management: Provide actuarial, marketing, research and development, and
portfolio risk management support. 

	 	(ii)	 Operating Requirements: Develop forms and procedures for various operating requirements.

	 	(iii)	 Pricing and Risk Methodologies: Develop underwriting, pricing and risk analysis methodologies.

	 	(iv)	 Underwriting, Reinsurance, Administrative and Miscellaneous: Provide assistance in underwriting and
reinsurance administrative audits, processes and controls; 

	 	(v)	 Administrative Services: Provide accounting and administrative services, including establishing accounts,
bookkeeping, reporting, tax related services, and various administrative services as requested; and 

	 	(vi)	 Other: Provide any other services related to the foregoing requested by ALNY and Intramerica from time to
time and agreed by the parties, including services related to legal issues. 

 Wilton Re Services may retain outside
consultants to perform all or a portion of the services to be provided as it deems appropriate. 
 All Services provided to ALNY and
Intramerica are to be based upon criteria, standards and guidelines of ALNY and Intramerica. ALNY and Intramerica shall have the ultimate and final authority over decisions and policies with respect to its business matters, including without
limitation, acceptance, rejection or canceling of 

  
 2 

 
risks, and the payment or nonpayment of claims. 
 Wilton Re Services agrees that in
performing or providing functions or services hereunder, it shall use that degree of ordinary care and reasonable diligence that an experienced and qualified provider of similar services would use acting in like circumstances and experience in such
matters and in accordance with the standards, practices and procedures established by Wilton Re Services for its own business. Wilton Re Services shall perform services according to servicing standards of ALNY and Intramerica or such other standards
as may be mutually agreed upon by the parties. Wilton Re Services shall comply with all laws, regulations, rules and orders applicable to (i) ALNY and Intramerica with respect to the Services or to Wilton Re Services. Wilton Re Services agrees
to maintain sufficient facilities and trained personnel of the kind necessary to perform the Services. 
 2. Relationship of the Parties 

Neither of Wilton Re Services nor any of its officers, employees, directors, or agents shall be deemed to be, in connection with the
performance of services hereunder, an agent of ALNY and Intramerica, but instead shall act solely in the capacity of an independent contractor to ALNY and Intramerica. 

Whenever Wilton Re Services utilizes its personnel to perform the Services, such personnel shall at all times remain employees of Wilton Re
Services subject solely to its direction and control. ALNY and Intramerica shall have no liability to such employees for their welfare, salaries, fringe benefits, legally required employer contributions and tax obligations. 

No facility of Wilton Re Services used in performing the Services for or subject to use by ALNY and Intramerica shall be deemed to be
transferred, assigned, conveyed or leased by performance or use pursuant to this Agreement. 
 Notwithstanding any other provision of this
Agreement, it is understood that the business and affairs of ALNY and Intramerica shall be managed by its board of managers, and to the extent delegated by such board, by its appropriately designated officers. It is specifically understood and
agreed by the parties that neither Wilton Re Services nor any officer or employee thereof is authorized solely by virtue of this Agreement to bind ALNY and Intramerica or any subsidiary in any manner, provided, however, that the foregoing shall not
preclude appointment of any of the employees of Wilton Re Services as officers or directors of or other investment by ALNY and Intramerica of specific authorities to any such employees. 

3. Fees 
 In general, the costs incurred by
Wilton Re Services hereunder with respect to services provided to ALNY and Intramerica shall be reasonable in amount and shall be allocated to WRNY and Intramerica on an equitable basis in accordance with customary cost accounting practices
consistently applied. In the case of services provided by the various departments of Wilton Re Services, costs will be allocated to ALNY and Intramerica based upon the percentage of time utilized in providing the services as determined reasonably by
either the relevant department’s supervising officer or manager or through an allocation developed by Wilton Re Services’ Accounting Department utilizing time analysis methods, statistical means or other methodology deemed appropriate by
Wilton Re Services’ Accounting Department. 
 In the case of services provided to ALNY and Intramerica on behalf of Wilton Re Services
by third-party consultants, the fee will be the actual cost incurred for those services by Wilton Re Services. 
 Notwithstanding anything in
this Section to the contrary, all expenses associated with the leasing or subleasing of real property and all other general “overhead” expenses (e.g., rent or lease payments, electricity, heat, air conditioning, commercial general
liability insurance) shall be included in the fee and shall be allocated in a manner deemed appropriate by Wilton Re Services’ Accounting Department and otherwise consistent with the 

  
 3 

 
terms of this Agreement. Such methods shall be modified and adjusted by mutual agreement where necessary or appropriate to reflect fairly and equitably the actual incidence of cost incurred by
Wilton Re Services on behalf of ALNY and Intramerica. 
 Within fifteen (15) days following each calendar quarter falling within the
term of this Agreement, Wilton Re Services shall submit to ALNY and Intramerica a statement of the amount of the apportioned expenses for such quarterly period showing, in reasonable detail, the basis for the apportionment for each item. Such
statement shall be prepared in accordance with the NAIC Accounting Practices and Procedures Manual. Payment of the apportioned expenses shall be made by ALNY and Intramerica within fifteen (15) days following receipt of such quarterly
statements. In no event shall ALNY and Intramerica be required to advance funds to Wilton Re Services except to pay for the Services. 
 All
billings and payments for services rendered hereunder will be denominated in U.S. dollars. 
 The Parties shall be entitled to offset any
balance or amount due from one Party to the other pursuant to this Agreement. However, in the event of insolvency of any Party hereto, offset shall only be allowed in accordance with applicable law. 

ALNY and Intramerica may request the relevant Wilton Re Services department or unit making the charge provide a written statement setting forth
in reasonable detail the nature of the services rendered or expense incurred and other relevant information to support the charge. 
 4. Books and Records

 All records, books, and files established and maintained by Wilton Re Services by reason of its performance of the Services, which
absent this Agreement would have been held by ALNY and Intramerica, shall be deemed the property of ALNY and Intramerica and shall be maintained in accordance with applicable law and regulation. Such records will be available, during normal business
hours, for inspection by ALNY and Intramerica, its authorized representatives, and any governmental agency that has regulatory authority over ALNY’s and Intramerica’s business activities. Copies of such records, books and files shall be
delivered to ALNY and Intramerica upon demand. All such records, books and files shall be promptly transferred to ALNY and Intramerica by Wilton Re Services upon termination of this Agreement. 

In addition to the foregoing, a computer terminal, which is linked to the electronic system that generates the electronic records that
constitutes ALNY’s and Intramerica’s books of account, shall be kept and maintained at its principal offices. During all normal business hours, there shall be ready availability and easy access through such terminal to the electronic media
used to maintain the records comprising AL NY’s and Intramerica’s books of account. The electronic records shall be in a readable form. 

Wilton Re Services shall maintain format integrity and compatibility of the electronic records that constitute ALNy’s and
Intramerica’s books of account. If the electronic system that created such records is to be replaced by a system with which the records would be incompatible, Wilton Re Services shall convert such pre-existing records to a format that is
compatible with the new system. 
 Wilton Re Services shall maintain acceptable backup (hard copy or another durable medium, as defined in
Regulation No. 152, as long as the means to access the durable medium is also maintained at ALNY and Intramerica’s principal office) of the records constituting ALNY and Intramerica’s books of account. 

  
 4 

 Wilton Re Services shall maintain adequate electronic data recovery systems and protocols.
Current protocols shall include the following: 
 Daily system tape back-up; 

Weekly and monthly tape removal and offsite storage; 

Back-up procedures monitored daily and Operations staff to be immediately 

notified of back-up failure; 

Data encryption software utilized for privacy protection. 

Each party shall maintain its own accounts and records in connection with activities contemplated under this Agreement such as to clearly and
accurately disclose the nature and detail of the transactions between them, including such information as is necessary to support the reasonableness of the charges under this Agreement. The parties, or their duly appointed representatives, and
governmental authorities having jurisdiction over ALNY and Intramerica, shall have the authority to inspect, copy and audit the books and records of the other parties pertaining to this Agreement throughout the term of this Agreement. Such
inspection or audit shall be for the purpose of obtaining information concerning this Agreement or the subject matter thereof and shall be conducted during regular business hours, without disrupting or unduly burdening operations of the other party.

 Wilton Re Services shall implement and maintain appropriate measures designed to meet the objectives of safeguarding ALNY’s and
Intramerica’s customer information and customer information systems. Wilton Re Services shall adjust its information security program at the request of ALNY and/or Intramerica for any relevant changes dictated by ALNY’s and/or
Intramerica’s assessment of risk around its customer information and customer information systems. 
 5. Term 

This Agreement is effective commencing on the Effective Date, and shall remain in force until the earlier of 

 

	 	 (i)	 termination of all of business assumed by ALNY and Intramerica; or 

	 	(ii)	 cancellation of this Agreement by one of the Parties hereunder. Either party may cancel this Agreement at any
time upon thirty (30) days prior written notice to the other party. 

 6. WRAC 

WRAC hereby agrees, solely with respect to any Services to be performed hereunder that Allstate Insurance Company (“AIC”) is
responsible for performing pursuant to that certain Transition Services Agreement dated as of the Effective Date among WRAC and AIC, to provide or cause AIC to provide such Services to ALNY and Intramerica, and to pay any applicable fees under this
Agreement with respect to such Services to AIC on behalf of Wilton Re Services or ALNY and/or Intramerica, as applicable. 
 7. Notices 

Any notice or other communication required or permitted hereunder shall be in writing and shall be delivered personally, sent by confirmed
facsimile transmission or sent by certified, registered or express mail, postage prepaid. Any such notice shall be deemed given when so delivered personally, or sent by confirmed facsimile transmission to the appropriate facsimile number set forth
below or, if mailed or dispatched by private courier service, respectively three days after the date of deposit in the United States mails or tender to any such private courier service, to the appropriate address set forth below: 

  
 5 

 To ALNY: 

Allstate Life Insurance Company of New York 

20 Glover Ave, 4th Floor 

Norwalk, Connecticut 06850 

Attn: Mark Sarlitto 
 To
Intramerica: 
 Intramerica Life Insurance Company 

20 Glover Ave, 4th Floor 

Norwalk, Connecticut 06850 

Attn: Mark Sarlitto 
 To
Wilton Re Services: 
 Wilton Re Services, Inc. 

20 Glover Ave, 4th Floor 

Norwalk, Connecticut 06850 

Attn: Enrico Treglia 
 8. Amendments 

In the event any term in this Agreement is or becomes unenforceable, all other terms and provisions of this Agreement remain unaltered, and
shall continue in full force and effect. 
 All amendments, alterations, modifications or waiver of any of the provisions of this Agreement,
or waiver, cancellation or replacement thereof, shall be in writing and signed by the parties in order to be valid and enforceable. This Agreement shall be binding upon and inure to the benefit of the parties hereto, their successors and lawful
assigns. Neither party may assign this Agreement without the written consent of the other party. 
 9. Limitation of Liability 

The parties to this Agreement hereby stipulate that, to the maximum extent permitted by law, neither party shall be liable to the other, or
any affiliate thereof, for any loss, claim, damage, cost, expense or liability of any type or in any form, arising out of or resulting from any act, error or omission of either party, its employees, directors, officers, agents, affiliates,
independent contractors and shareholders, that is related to, is the subject of, or arises from, or in connection with this Agreement, except that Wilton Re Services shall indemnify ALNY and Intramerica for any loss, claim, damage, cost, expense or
liability of any type or in any form, arising out of or resulting from any gross negligence or willful misconduct on the part of Wilton Re Services. 

10. Applicable Law 
 This Agreement shall
be governed by and interpreted in accordance with the laws of the State of New York without regard to that state’s choice of law rules. 

  
 6 

 11. Non-Assignability 

This Agreement shall not be assignable by either party without the consent of the non-assigning party. Nothing in this Agreement, expressed or
implied, is intended to confer on any person other than the parties hereto, or their respective legal successors, any rights, remedies or obligations, or to relieve any person other than the parties hereto, or their respective legal successors, from
any obligations or liabilities that would otherwise be applicable. The covenants and agreements contained in this Agreement shall be binding upon, extend to, and inure to the benefit of, the parties hereto and their legal successors. 

12. Non-Exclusivity 
 Nothing herein
shall be deemed to grant Wilton Re Services an exclusive right to provide services to ALNY and Intramerica, and ALNY and Intramerica retain the right to contract with any third party, affiliated or unaffiliated, for the performance of services or
for the use of facilities as are available to or have been requested by ALNY and Intramerica pursuant to this Agreement. 
 Wilton Re
Services, with ALNY’s and Intramerica’s consent, shall have the right to subcontract with any third party, affiliated or unaffiliated, for the performance of services requested by ALNY and/or Intramerica provided that Wilton Re Services
shall remain responsible for the performance of services by any such subcontractors in accordance with the terms of this agreement; and provided further that the charges for any such services subcontracted to an affiliate shall be determined on the
bases described in Section 3. 
 13. Dispute Resolution 

Any dispute arising out of or relating to this Agreement shall be submitted to arbitration, as provided in this Article. 

Any disputes hereunder will be adjudicated by a panel of three arbitrators. Notice demanding arbitration will be in writing and sent certified
or registered mail, return receipt requested. One arbitrator shall be chosen by each party and the two arbitrators shall, before instituting the hearing, choose an impartial third arbitrator who shall preside at the hearing. If either party fails to
appoint its arbitrator within thirty (30) days after being requested to do so by the other party, the latter, after ten (10) days’ notice by certified or registered mail of its intention to do so, may appoint the second arbitrator. If
the two arbitrators are unable to agree upon the third arbitrator within fifteen (15) days of their appointment, the third arbitrator shall be selected from a list of six individuals (three named by each arbitrator) by a judge of the federal
district court with jurisdiction over the geographical area in which the arbitration is to take place, or if the federal court declines to act, the state court exercising general jurisdiction in such area. 

All arbitrators shall be disinterested persons, who are active or former officers of reinsurance companies, or active or retired members of the
judiciary familiar with reinsurance practice and issues. 
 Within thirty (30) days after notice of appointment of all arbitrators, the
panel shall meet and determine timely periods for briefs, discovery procedures and schedules for hearings. The arbitration shall take place in Wilton, Connecticut or such other location as shall be mutually agreed to by the parties. The decision of
any two arbitrators, when rendered in writing, shall be final and binding. The panel is empowered to grant interim relief, as it may deem appropriate. 

Judgment on the award may be entered in any court having jurisdiction thereof. In no event shall the panel be empowered to impose punitive,
exemplary or consequential damages on either party. Each party shall bear the expense of its own arbitrator and shall jointly and equally bear with the other party the cost of the third arbitrator. The panel shall allocate the remaining costs of the
arbitration. 

  
 7 

 14. Entire Agreement 

This Agreement constitutes the entire agreement between the parties. Any agreement, promise, or statement not contained in this Agreement
shall not be binding on the parties unless set forth in writing and incorporated herein, consistent with the terms of Section 9 Amendments of this Agreement. 

15. Counterparts 
 This Agreement may be
executed in separate counterparts, each of which shall be deemed an original, but all of which together shall constitute one and the same instrument. 

  
 8 

 IN WITNESS WHEREOF, the undersigned have caused this Agreement to be executed as of the Effective Date. 

ALLSTATE LIFE INSURANCE COMPANY OF NEW YORK 

			
		
	By:	 	 /s/ Scott Sheefel

		
	Name:	 	Scott Sheefel
		
	Title:	 	President
		
	Date:	 	10/1/21
	
	INTRAMERICA LIFE INSURANCE COMPANY
		
	By:	 	 /s/ Scott Sheefel

		
	Name:	 	Scott Sheefel
		
	Title:	 	President
		
	Date:	 	10/1/21
	
	WILTON RE SERVICES, INC.
		
	By:	 	 /s/ Michael Fleitz

		
	Name:	 	Michael Fleitz
		
	Title:	 	Chairman
		
	Date:	 	10/1/21
	
	 WILTON REASSURANCE COMPANY
  

(solely for purposes of Section 6)

		
	By:	 	 /s/ Dmitri Ponomarev

		
	Name:	 	Dmitri Ponomarev
		
	Title:	 	Vice Chairman
		
	Date:	 	10/1/21

 [Signature Page to Service Agreement]

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