Document:

EX-10.34

 Exhibit 10.34 

ESCROW AGREEMENT 
 This
ESCROW AGREEMENT (this “Agreement”) made as of August 27, 2013, by and among GlobalOptions Group, Inc., (the “Issuer”) and Broadband Capital Management LLC (the “Placement Agent”), whose
addresses and other information appear on the Information Sheet (as defined herein) attached to this Agreement, and Continental Stock Transfer & Trust Company, 17 Battery Place, 8th
Floor, New York, NY 10004 (the “Escrow Agent”). 
 WITNESSETH: 

WHEREAS, the Issuer is offering to “accredited investors” units consisting of one share and one half of one warrant share (the
“Units”) at a purchase price of $3.00 per Unit Units to be sold in a private placement offering of Units (the “Offering”). The minimum amount to close will be $10,000,000 (as such amount may be amended from
time to time by joint written instruction by the Placement Agent and Issuer to the Escrow Agent, the “Minimum Offering Amount”). 

WHEREAS, the Issuer and the Placement Agent propose to establish an escrow account (the “Escrow Account”), to which
subscription monies which are received by the Escrow Agent from the subscribers of the Units (the “Investors”) or the Placement Agent in connection with such private offering are to be credited, and the Escrow Agent is willing to
establish the Escrow Account on the terms and subject to the conditions hereinafter set forth; and 
 WHEREAS, the Escrow Agent has agreed
to establish a special bank account at J.P. Morgan Chase Bank (the “Bank”) into which the subscription monies, which are received by the Escrow Agent from the Investors or the Placement Agent and credited to the Escrow Account, are
to be deposited. 
 NOW, THEREFORE, in consideration of the premises and mutual covenants herein contained, the parties hereto hereby agree
as follows: 
 1. Information Sheet. Each capitalized term not otherwise defined in this Agreement shall have the meaning set forth
for such term on the information sheet which is attached to this Agreement as Exhibit A and is incorporated by reference herein and made a part hereof (the “Information Sheet”). 

2. Establishment of the Bank Account. 

2.1 The Escrow Agent shall establish a non-interest-bearing bank account at the branch of Bank selected by the Escrow Agent, and bearing the
designation set forth on the Information Sheet (heretofore defined as the “Bank Account”). The purpose of the Bank Account is for (a) the deposit of all subscription monies (checks or wire transfers) from prospective purchasers
of the Units which are delivered to the Escrow Agent, (b) the holding of amounts of subscription monies which are collected through the banking system and (c) the disbursement of collected funds, all as described herein. 

 2.2 On or before the date of the initial deposit in the Bank Account pursuant to this Agreement,
the Placement Agent shall notify the Escrow Agent in writing of the date of the commencement of the Offering (the “Effective Date”), and the Escrow Agent shall not be required to accept any amounts for credit to the Escrow Account
or for deposit in the Bank Account prior to its receipt of such notification. 
 2.3 The “Offering Period,” which shall be
deemed to commence on the Effective Date, shall consist of the number of calendar days or business days set forth on the Information Sheet. The Offering Period shall be extended at the Placement Agent’s discretion (an “Extension
Period”) only if the Escrow Agent shall have received joint written notice thereof from the Issuer and Placement Agent prior to the expiration of the Offering Period. The Extension Period, which shall be deemed to commence on the next
calendar day following the expiration of the Offering Period, shall consist of the number of calendar days or business days set forth on the Information Sheet. The last day of the Offering Period, or the last day of the Extension Period (if the
Escrow Agent has received written notice thereof as herein above provided), is referred to herein as the “Termination Date”. Except as provided in Section 4.3 hereof, after the Termination Date, the Placement Agent shall not
deposit, and the Escrow Agent shall not accept, any additional amounts representing payments by prospective purchasers. 
 3. Deposits to
the Bank Account. 
 3.1 The Placement Agent shall promptly deliver to the Escrow Agent all monies which it receives from prospective
purchasers of the Units, which monies shall be in the form of checks or wire transfers, provided however that “Cashiers” checks and “Money Orders” must be in amounts greater than $10,000; Cashiers checks or Money Orders in
amounts less than $10,000 shall be rejected by the Escrow Agent. Upon the Escrow Agent’s receipt of such monies, they shall be credited to the Escrow Account. All checks delivered to the Escrow Agent shall be made payable to “CST&T AAF
GlobalOptions Group Escrow Account.” Any check payable other than to the Escrow Agent as required hereby shall be returned to the prospective purchaser, or if the Escrow Agent has insufficient information to do so, then to the Placement Agent
(together with any Subscription Information, as defined below or other documents delivered therewith) by noon of the next business day following receipt of such check by the Escrow Agent, and such check shall be deemed not to have been delivered to
the Escrow Agent pursuant to the terms of this Agreement. 
 3.2 Promptly after receiving subscription monies as described in
Section 3.1, the Escrow Agent shall deposit the same into the Bank Account. Amounts of monies so deposited are hereinafter referred to as “Escrow Amounts”. The Escrow Agent shall cause the Bank to process all Escrow Amounts for
collection through the banking system. Simultaneously with each deposit to the Escrow Account, the Placement Agent (or the Issuer, if such deposit is made by the Issuer) shall inform the Escrow Agent in writing of the name, address, and the tax
identification number of the purchaser, the amount of Units subscribed for by such purchase, and the aggregate dollar amount of such subscription (collectively, the “Subscription Information”). 

 3.3 The Escrow Agent shall not be required to accept for credit to the Escrow Account or for
deposit into the Bank Account checks which are not accompanied by the appropriate Subscription Information, which at minimum shall include the name address, tax identification number and the number of shares/units. Wire transfers representing
payments by prospective purchasers shall not be deemed deposited in the Escrow Account until the Escrow Agent has received in writing the Subscription Information required with respect to such payments. 

3.4 The Escrow Agent shall not be required to accept in the Escrow Account any amounts representing payments by prospective purchasers, whether
by check or wire, except during the Escrow Agent’s regular business hours. 
 3.5 Only those Escrow Amounts, which have been deposited
in the Bank Account and which have cleared the banking system and have been collected by the Escrow Agent, are herein referred to as the “Fund.” 

3.6 If the Offering is terminated before the Termination Date, the Escrow Agent shall refund any portion of the Fund prior to disbursement of
the Fund in accordance with Article 4 hereof upon instructions in writing signed by both the Issuer and the Placement Agent. 
 3.7 If prior
to the disbursement of the Fund in accordance with Section 4.2 below, the Escrow Agent has received notice from the Issuer that the subscription of a purchaser has been rejected, the Escrow Agent shall promptly refund to such purchaser the
amount of payment received from such purchaser which is then held in the Fund or which thereafter clears the banking system, without interest thereon or deduction therefrom, by drawing a check on the Bank Account for the amount of such payment and
transmitting it to the purchaser. 
 4. Disbursement from the Bank Account. 

4.1 If by the close of regular banking hours on the Termination Date the Escrow Agent determines that the amount in the Fund is less than the
Minimum Offering Amount, as indicated by the Subscription Information submitted to the Escrow Agent, then the Escrow Agent shall promptly refund to each prospective purchaser the amount of payment received from such purchaser which is then held in
the Fund or which thereafter clears the banking system, without interest thereon or deduction there from, by drawing checks on the Bank Account for the amounts of such payments and transmitting them to the purchasers. In such event, the Escrow Agent
shall promptly notify the Issuer and the Placement Agent of its distribution of the Fund. 
 4.2 If at any time up to the close of regular
banking hours on the Termination Date, the Escrow Agent has received joint written instructions from the Issuer and the Placement Agent that all conditions for release of funds have been met for closing of the Offering, the Escrow Agent shall
promptly disburse the Fund in accordance with instructions. 

 4.3 Upon disbursement of the Fund pursuant to the terms of this Article 4, the Escrow Agent shall
be relieved of further obligations and released from all liability under this Agreement, except in the case of gross negligence or willful misconduct. It is expressly agreed and understood that in no event shall the aggregate amount of payments made
by the Escrow Agent exceed the amount of the Fund. 
 5. Rights, Duties and Responsibilities of Escrow Agent. It is understood and
agreed that the duties of the Escrow Agent are purely ministerial in nature, and that: 
 5.1 The Escrow Agent shall notify the Placement
Agent, on a daily basis, of the Escrow Amounts which have been deposited in the Bank Account and of the amounts, constituting the Fund, which have cleared the banking system and have been collected by the Escrow Agent. 

5.2 The Escrow Agent shall not be responsible for or be required to enforce any of the terms or conditions of the selling agreement or any
other agreement between the Placement Agent and the Issuer nor shall the Escrow Agent be responsible for the performance by the Placement Agent or the Issuer of their respective obligations under this Agreement. 

5.3 The Escrow Agent shall not be required to accept from the Placement Agent (or the Issuer) any Subscription Information pertaining to
prospective purchasers unless such Subscription Information is accompanied by checks or wire transfers meeting the requirements of Section 3.1, nor shall the Escrow Agent be required to keep records of any information with respect to payments
deposited by the Placement Agent (or the Issuer) except as to the amount of such payments; however, the Escrow Agent shall notify the Placement Agent within a reasonable time of any discrepancy between the amount set forth in any Subscription
Information and the amount delivered to the Escrow Agent therewith. Such amount need not be accepted for deposit in the Escrow Account until such discrepancy has been resolved. 

5.4 The Escrow Agent shall be under no duty or responsibility to enforce collection of any check delivered to it hereunder. The Escrow Agent,
within a reasonable time, shall return to the Placement Agent any check received which is dishonored, together with the Subscription Information, if any, which accompanied such check. 

5.5 The Escrow Agent shall be entitled to rely upon the accuracy, act in reliance upon the contents, and assume the genuineness of any notice,
instruction, certificate, signature, instrument or other document which is given to the Escrow Agent pursuant to this Agreement without the necessity of the Escrow Agent verifying the truth or accuracy thereof. The Escrow Agent shall not be
obligated to make any inquiry as to the authority, capacity, existence or identity of any person purporting to give any such notice or instructions or to execute any such certificate, instrument or other document. 

5.6 If the Escrow Agent is uncertain as to its duties or rights hereunder or shall receive instructions with respect to the Bank Account, the
Escrow Amounts or the Fund which, in its sole determination, are in conflict either with other instructions received by it or with any provision of this Agreement, it shall be entitled to hold the Escrow Amounts, the Fund, or a portion thereof, in
the Bank Account pending the resolution of such uncertainty to the Escrow Agent’s sole satisfaction, by final judgment of a court or courts of competent jurisdiction or otherwise. 

 5.7 The Escrow Agent shall not be liable for any action taken or omitted hereunder, or for the
misconduct of any employee, agent or attorney appointed by it, except in the case of willful misconduct or gross negligence. The Escrow Agent shall be entitled to consult with counsel of its own choosing and shall not be liable for any action taken,
suffered or omitted by it in accordance with the advice of such counsel. 
 5.8 The Escrow Agent shall have no responsibility at any time to
ascertain whether or not any security interest exists in the Escrow Amounts, the Fund or any part thereof or to file any financing statement under the Uniform Commercial Code with respect to the Fund or any part thereof. 

6. Amendment; Resignation or Removal of Escrow Agent. This Agreement may be altered or amended only with the written consent of the
Issuer, the Placement Agent and the Escrow Agent. The Escrow Agent may resign and be discharged from its duties hereunder at any time by giving written notice of such resignation to the Issuer and the Placement Agent specifying a date when such
resignation shall take effect and upon delivery of the Fund to the successor escrow agent designated by the Issuer in writing. Such successor Escrow Agent shall become the Escrow Agent hereunder upon the resignation date specified in such notice. If
the Issuer fails to designate a successor Escrow Agent within thirty (30) days after such notice, then the resigning Escrow Agent shall promptly refund the amount in the Fund to each prospective purchaser, without interest thereon or deduction.
The Escrow Agent shall continue to serve until its successor accepts the escrow and receives the Fund. The Issuer shall have the right at any time to remove the Escrow Agent and substitute a new escrow agent by giving notice thereof to the Escrow
Agent then acting. Upon its resignation and delivery of the Fund as set forth in this Section 6, the Escrow Agent shall be discharged of and from any and all further obligations arising in connection with the escrow contemplated by this
Agreement. Without limiting the provisions of Section 8 hereof, the resigning Escrow Agent shall be entitled to be reimbursed by the Issuer and the Placement Agent for any expenses incurred in connection with its resignation, transfer of the
Fund to a successor escrow agent or distribution of the Fund pursuant to this Section 6. 
 7. Representations and Warranties.
The Placement Agent hereby represent and warrant to the Escrow Agent that: 
 7.1 No party other than the parties hereto and the prospective
purchasers have, or shall have, any lien, claim or security interest in the Escrow Amounts or the Fund or any part thereof. 
 7.2 No
financing statement under the Uniform Commercial Code is on file in any jurisdiction claiming a security interest in or describing (whether specifically or generally) the Escrow Amounts or the Fund or any part thereof. 

 7.3 The Subscription Information submitted with each deposit shall, at the time of submission and
at the time of the disbursement of the Fund, be deemed a representation and warranty that such deposit represents a bona fide payment by the purchaser described therein for the amount of Units set forth in such Subscription Information. 

7.4 All of the information contained in the Information Sheet is, as of the date hereof, and will be, at the time of any disbursement of the
Fund, true and correct. 
 7.5 Reasonable controls have been established and required due diligence performed to comply with “Know Your
Customer” regulations, USA Patriot Act, Office of Foreign Asset Control (OFAC) regulations and the Bank Secrecy Act. 
 8. Fees and
Expenses. The Escrow Agent shall be entitled to the Escrow Agent Fees set forth on the Information Sheet, payable as and when stated therein. In addition, the Issuer and the Placement Agent jointly and severally agree to reimburse the Escrow
Agent for any reasonable expenses incurred in connection with this Agreement, including, but not limited to, reasonable counsel fees. 
 9.
Indemnification and Contribution. 
 9.1 The Issuer and the Placement Agent (collectively referred to as the
“Indemnitors”) jointly and severally agree to indemnify the Escrow Agent and its officers, directors, employees, agents and shareholders (collectively referred to as the “Indemnitees”) against, and hold them
harmless of and from, any and all loss, liability, cost, damage and expense, including without limitation, reasonable counsel fees, which the Indemnitees may suffer or incur by reason of any action, claim or proceeding brought against the
Indemnitees arising out of or relating in any way to this Agreement or any transaction to which this Agreement relates, unless such action, claim or proceeding is the result of the willful misconduct or gross negligence of the Indemnitees. 

9.2 If the indemnification provided for in Section 9.1 is applicable, but for any reason is held to be unavailable, the Indemnitors shall
contribute such amounts as are just and equitable to pay, or to reimburse the Indemnitees for, the aggregate of any and all losses, liabilities, costs, damages and expenses, including counsel fees, actually incurred by the Indemnitees as a result of
or in connection with, and any amount paid in settlement of, any action, claim or proceeding arising out of or relating in any way to any actions or omissions of the Indemnitors. 

9.3 The provisions of this Article 9 shall survive any termination of this Agreement, whether by disbursement of the Fund, resignation of the
Escrow Agent or otherwise. 
 10. Termination of Agreement. This Agreement shall terminate on the final disposition of the Fund
pursuant to Section 4, provided that the rights of the Escrow Agent and the obligations of the other parties hereto under Section 9 shall survive the termination hereof and the resignation or removal of the Escrow Agent. 

 11. Governing Law and Assignment. This Agreement shall be construed in accordance with and
governed by the laws of the State of New York, without regard to the conflicts of laws principles thereof, and shall be binding, upon the parties hereto and their respective successors and assigns; provided, however, that any
assignment or transfer by any party of its rights under this Agreement or with respect to the Escrow Amounts or the Fund shall be void as against the Escrow Agent unless (a) written notice thereof shall be given to the Escrow Agent; and
(b) the Escrow Agent shall have consented in writing to such assignment or transfer. 
 12. Notices. All notices required to be
given in connection with this Agreement shall be sent by registered or certified mail, return receipt requested, or by hand delivery with receipt acknowledged, or by the Express Mail service offered by the United States Postal Service, and
addressed, if to the Issuer or the Placement Agent, at their respective addresses set forth on the Information Sheet, and if to the Escrow Agent, at its address set forth above, to the attention of the Trust Department. 

13. Severability. If any provision of this Agreement or the application thereof to any person or circumstance shall be determined to be
invalid or unenforceable, the remaining provisions of this Agreement or the application of such provision to persons or circumstances other than those to which it is held invalid or unenforceable shall not be affected thereby and shall be valid and
enforceable to the fullest extent permitted by law. 
 14. Execution in Several Counterparts. This Agreement may be executed in
several counterparts or by separate instruments and by facsimile transmission and all of such counterparts and instruments shall constitute one agreement, binding on all of the parties hereto. 

15. Entire Agreement. This Agreement constitutes the entire agreement between the parties hereto with respect to the subject matter
hereof and supersedes all prior agreements and understandings (written or oral) of the parties in connection therewith. 

 IN WITNESS WHEREOF, the undersigned have executed this Agreement as of the day and year first
above written. 
  

					
	CONTINENTAL STOCK TRANSFER& TRUST COMPANY
		
	 By:
	 	 /s/ Frank A. Dipaolo

		 	 Name: Frank A. Dipaolo

		 	 Title: Vice President

	
	 Broadband Capital Management LLC

		
	 By:
	 	 /s/ Philip Wagenheim

		 	 Name: Philip Wagenheim

		 	 Title: Vice Chairman

	
	GlobalOptions Group, Inc.
		
	 By:
	 	 /s/ Jeffrey O. Nyweide

		 	Name: Jeffrey O. Nyweide
		 	Title:
 	 	Chief Financial Officer, Executive Vice President – Corporate Development, Treasurer and Secretary

 EXHIBIT A 

ESCROW AGREEMENT INFORMATION SHEET 
  

	1.	The Issuer 

 Name: GlobalOptions Group, Inc. 

Address: 415 Madison Avenue, 17th Floor 

New York, NY 10017 
 Tax
Identification Number: 30-0342273 
  

	2.	The Placement Agent 

 Name: Broadband Capital Management LLC 

Address: 712 Fifth Avenue, New York, NY 10019 
  

	3.	The Units 

 Description of the Units to be offered: Units consisting of one share of
common stock and one half of one warrant. The Unit purchase price is $3.00 per Unit. The exercise price of the warrant is $3.00 per full warrant. 
  

	4.	Minimum Amounts and Conditions Required for Disbursement of the Escrow Account 

Aggregate dollar amount which must be collected before the Escrow Account may be disbursed to the Issuer: $10,000,000 

 

	5.	Plan of Distribution of the Units 

 Initial Offering Period: Through September 16,
2013. 
 Extension Period, if any: October 31, 2013. 
  

	6.	Title of Escrow Account: 

 “CST&T AAF GlobalOptions Group 

 

	7.	Escrow Agent Fees and Charges 

 $2,500 payable out of the proceeds at Closing. A fee of
$500 will be payable for document review services related to each amendment to the Escrow Agreement and a $250 charge for each approved extension of the Termination Date. In addition, the Escrow Agent shall be paid a fee of $500.00 for each
additional closing. Should the Escrow Agent continue for more than one year, the Escrow Agent shall receive a fee of $500.00 per month, or any portion thereof, payable in advance on the first business day of each month. 

Distribution charges: 
 $10.00 per
check 
 $50.00 per wire 

$100.00 per check returned (NSF) check 

$100.00 lost check replacement feeEX-4.2

 Exhibit 4.2 

EXECUTION VERSION 
  

 
 Second Supplemental Indenture 

between 
 Reinsurance Group of
America, Incorporated 
 and 

The Bank of New York Mellon Trust Company, N.A., 

as Trustee 
  

 
 Dated
September 24, 2013 
  
  

4.70% Senior Notes due 2023 
  

 

 TABLE OF CONTENTS 

 

					
	 	  	PAGE	 
	 ARTICLE I DEFINITIONS
	  	 	1	  
		
	 Section 1.1 Definition of Terms
	  	 	1	  
		
	 ARTICLE II TERMS AND CONDITIONS OF THE SENIOR NOTES
	  	 	6	  
		
	 Section 2.1 Designation and Principal Amount
	  	 	6	  
		
	 Section 2.2 Issue Date; Maturity
	  	 	6	  
		
	 Section 2.3 Percentage of Principal Amount
	  	 	6	  
		
	 Section 2.4 Place of Payment and Surrender for Registration of Transfer
	  	 	7	  
		
	 Section 2.5 Registered Securities; Form; Denominations; Depositary
	  	 	7	  
		
	 Section 2.6 Interest
	  	 	7	  
		
	 Section 2.7 Optional Redemption
	  	 	8	  
		
	 Section 2.8 No Sinking Fund
	  	 	8	  
		
	 Section 2.9 Events of Default
	  	 	8	  
		
	 Section 2.10 Ranking
	  	 	9	  
		
	 Section 2.11 Paying Agent; Security Registrar
	  	 	9	  
		
	 Section 2.12 Defeasance
	  	 	9	  
		
	 Section 2.13 No Conversion
	  	 	9	  
		
	 Section 2.14 CUSIP Numbers
	  	 	9	  
		
	 Section 2.15 Definitive Form of Senior Notes
	  	 	9	  
		
	 Section 2.16 Company Reports
	  	 	9	  
		
	 ARTICLE III COVENANTS
	  	 	10	  
		
	 Section 3.1 Limitation on Liens
	  	 	10	  
		
	 Section 3.2 Limitations on Issuance or Disposition of Stock of Restricted Subsidiaries
	  	 	10	  
		
	 ARTICLE IV MISCELLANEOUS
	  	 	11	  

  
 i 

					
	 Section 4.1 Ratification, Extension and Renewal of Indenture
	  	 	11	  
		
	 Section 4.2 Trustee Not Responsible for Recitals
	  	 	11	  
		
	 Section 4.3 Governing Law
	  	 	11	  
		
	 Section 4.4 Severability
	  	 	11	  
		
	 Section 4.5 Counterparts
	  	 	11	  
		
	 Section 4.6 Successors and Assigns
	  	 	11	  
		
	 EXHIBIT A - FORM OF SENIOR NOTE
	  	 	A-1	  

  
 ii 

 Second Supplemental Indenture, dated September 24, 2013 (this “Second Supplemental
Indenture”), between REINSURANCE GROUP OF AMERICA, INCORPORATED, a Missouri corporation (the “Company”), having its principal executive office at 1370 Timberlake Manor Parkway, Chesterfield, Missouri 63017-6039 and THE BANK
OF NEW YORK MELLON TRUST COMPANY, N.A., a national banking association, as trustee (the “Trustee”), having its corporate trust office at 2 North LaSalle, Suite 1020, Chicago, Illinois 60602, supplementing the Indenture, dated as of
August 21, 2012, between the Company and the Trustee (the “Base Indenture”, together with the this Second Supplemental Indenture, the “Indenture”). 

RECITALS OF THE COMPANY 
 The
Company executed and delivered the Base Indenture to the Trustee to provide for the issuance from time to time by the Company of its debentures, notes, bonds or other evidences of indebtedness (hereinafter generally called the “Debt
Securities”, and individually, a “Debt Security”) to be issued in one or more series as provided in the Base Indenture, in an unlimited aggregate principal amount which may be authenticated and delivered as provided in the
Base Indenture; 
 Pursuant to the terms of this Second Supplemental Indenture, the Company desires to provide for the establishment of a
new series of Debt Securities to be known as the 4.70% Senior Notes due 2023 (the “Senior Notes”), the form and substance of such Senior Notes and the terms, provisions and conditions thereof to be as set forth in the Indenture;

 Pursuant to Section 3.1 of the Base Indenture, a new series of Debt Securities may at any time be established in or pursuant to a
Board Resolution, an Officer’s Certificate or one or more indentures supplemental to the Base Indenture; 
 The Company has requested
that the Trustee execute and deliver this Second Supplemental Indenture. All requirements necessary to make this Second Supplemental Indenture a valid instrument in accordance with its terms (and to make the Senior Notes, when duly executed by the
Company and duly authenticated and delivered by the Trustee, the valid and enforceable obligations of the Company) have been performed, and the execution and delivery of this Second Supplemental Indenture has been duly authorized in all respects.

 NOW, THEREFORE, THIS SECOND SUPPLEMENTAL INDENTURE WITNESSETH: 

For and in consideration of the premises and the purchase of Senior Notes by the Holders thereof, it is mutually covenanted and agreed, for the
equal and proportionate benefit of all Holders of Senior Notes, as follows: 
 ARTICLE I 

DEFINITIONS 
 Section 1.1 Definition of
Terms 
 Unless the context otherwise requires: 

  
 1 

 (a) a term not defined herein that is defined in the Base Indenture has the same meaning when
used in this Second Supplemental Indenture; 
 (b) a term defined anywhere in this Second Supplemental Indenture has the same meaning
throughout; 
 (c) the singular includes the plural and vice versa; 

(d) a reference to a Section or Article is to a Section or Article of this Second Supplemental Indenture; 

(e) headings are for convenience of reference only and do not affect interpretation; and 

(f) the following terms have the following meanings: 

“Base Indenture” has the meaning set forth in the Recitals. 

“Adjusted Treasury Rate” means, with respect to any date of redemption, the rate per annum equal to the
semi-annual equivalent yield to maturity of the Comparable Treasury Issue, assuming a price for the Comparable Treasury Issue (expressed as a percentage of its principal amount) equal to the Comparable Treasury Price for that date of redemption.

 “Capital Lease Obligation” means an obligation of the Company or any Subsidiary to pay rent or other
amounts under a lease of (or another Indebtedness arrangement conveying the right to use) real or personal property thereof that is required to be classified and accounted for as a capital lease or a liability on the face of a balance sheet thereof
in accordance with GAAP. For purposes of this Second Supplemental Indenture, the amount of such obligation shall be the capitalized amount thereof and the stated maturity thereof shall be the date of the last payment of rent or any other amount due
under such lease (or such other arrangement) prior to the first date upon which such lease (or such other arrangement) may be terminated by the lessee (or obligor) without payment of a penalty. 

“Capital Stock” means with respect to any Person, any and all shares, interests, participations, rights or
other equivalents (however designated) of corporate stock of such Person, including, without limitation, if such Person is a partnership, partnership interests (whether general or limited) and any other interest or participation that confers on a
Person the right to receive a share of the profits and losses of, or distributions of assets of, such partnership. 

“Company” has the meaning set forth in the Recitals. 

“Comparable Treasury Issue” means the United States Treasury security selected by the Quotation Agent as
having a maturity comparable to the remaining term of the Senior Notes to be redeemed that would be utilized, at the time of selection and in accordance with customary financial practice, in pricing new issues of corporate debt securities of
comparable maturity to the remaining term of the Senior Notes. 

  
 2 

 “Comparable Treasury Price” means, with respect to any date of
redemption, (i) the average of the Reference Treasury Dealer Quotations for the date of redemption, after excluding the highest and lowest Reference Treasury Dealer Quotations, or (ii) if the Quotation Agent obtains fewer than three
(3) Reference Treasury Dealer Quotations, the average of all such Reference Treasury Dealer Quotations. 

“Consolidated Tangible Net Worth” means the total shareholders’ equity as reflected in the Company’s
most recent consolidated balance sheet prepared in accordance with GAAP and filed with the Securities and Exchange Commission, less intangible assets such as goodwill, trademarks, tradenames, patents and unamortized debt discount and expense. 

“Debt Securities” or “Debt Security” has the meaning set forth in the Recitals. 

“Guarantee” by any Person means any Obligations, contingent or otherwise, of such Person guaranteeing any
Indebtedness of any other Person (the “primary obligor”) in any manner, whether directly or indirectly, and including, without limitation, every obligation of such Person (i) to purchase or pay (or advance or supply funds for
the purchase or payment of) such Indebtedness or to purchase (or to advance or supply funds for the purchase of) any security for the payment of such Indebtedness, (ii) to purchase property, securities or services for the purpose of assuring
the holder of such Indebtedness of the payment of such Indebtedness or (iii) to maintain working capital, equity capital or other financial statement condition or liquidity of the primary obligor so as to enable the primary obligor to pay such
Indebtedness (and the terms “Guaranteed,” “Guaranteeing” and “Guarantor” shall have meanings correlative to the foregoing); provided, however, that the Guarantee by any Person shall not include
endorsements by such Person for collection or deposit, in either case in the ordinary course of business. 
 “Global
Senior Note” has the meaning set forth in Section 2.5(a). 
 “Holder” means a Person in whose
name a Senior Note is registered. 
 “Indenture” has the meaning set forth in the Recitals. 

“Indebtedness” of any Person means, without duplication, (i) every obligation of such Person for money
borrowed; (ii) every obligation of such Person evidenced by bonds, debentures, notes or similar instruments, including obligations incurred in connection with the acquisition of property, assets or businesses; (iii) every obligation of
such Person under conditional sale or other title retention agreements relating to assets or property purchased by such Person or issued or assumed as the deferred purchase price of property, assets or services (but excluding trade accounts payable
or accrued liabilities arising in the ordinary course of business that are nor overdue by more than 90 days or are being contested by such Person in good faith); (iv) every Capital Lease Obligation of such Person; (v) every obligation of
such Person with respect to any Sale and Leaseback 

  
 3 

 
Transaction to which such Person is a party; (vi) every obligation of such Person with respect to letters of credit, bankers’ acceptances or similar facilities issued for the account of
such Person; (vii) the maximum fixed redemption or repurchase price of outstanding Redeemable Stock of such Person; (viii) every obligation of such Person with respect to performance, surety or similar bonds; (ix) every obligation of
such Person under interest rate swap or cap or similar agreements, or under foreign currency hedge, exchange or similar agreements, of such Person; (x) if such Person is engaged in the insurance business, all Surplus Debt of such Person; and
(xi) every obligation of the type referred to in clauses (i) through (x) and (xii) of another Person the payment of which such Person has Guaranteed or is otherwise responsible for or liable for, directly or indirectly, as
obligor, Guarantor or otherwise; and (xii) every amendment, modification, renewal and extension of an obligation of the type referred to in clauses (i) through (xi). 

“Insurance Regulator” means any Person having (i) authority to administer or enforce any statute,
regulation or other law of the United States, any State or the District of Columbia or any instrumentality or political subdivision thereof (or any order or decree of any court thereof) governing the conduct of an insurance business, and
(ii) jurisdiction over the matter in question. 
 “Obligations” means any principal, interest,
penalties, fees, indemnifications, reimbursements, damages and other liabilities payable under the documentation governing any Indebtedness. 

“Quotation Agent” means one of the Reference Treasury Dealers appointed by the Company. 

“Recitals” means the Recitals of the Company set forth in this Second Supplemental Indenture. 

“Redeemable Stock” of a Person means every Capital Stock of such Person that by its terms or otherwise is
required to be redeemed or otherwise purchased by such Person, or is redeemable or so purchasable at the option of the holder thereof, at any time prior to the Stated Maturity of the Capital Stock. 

“Reference Treasury Dealer” means (i) J.P. Morgan Securities LLC, Merrill Lynch, Pierce,
Fenner & Smith Incorporated and UBS Securities LLC, and, in each case, their respective successors or their respective affiliates that are Primary Treasury Dealers (as defined herein); provided, however, that if any of them shall cease to
be a Primary Treasury Dealer, the Company shall substitute therefor another nationally recognized investment banking firm that is a primary U.S. Government securities dealer in the United States (a “Primary Treasury Dealer”), and
(ii) one other Primary Treasury Dealer selected by the Company. 
 “Reference Treasury Dealer
Quotations” means, with respect to each Reference Treasury Dealer and any date of redemption, the average, as determined by the Quotation Agent, after consultation with the Company, of the bid and asked prices for the Comparable
Treasury Issue (expressed in each case as a percentage of its principal amount) quoted in writing to the Quotation Agent by that Reference Treasury Dealer at 5:00 p.m., New York City time, on the third business day preceding that date of redemption.

  
 4 

 “Responsible Officer” when used with respect to the Trustee
means any officer within the corporate trust department of the Trustee, including any vice president, any assistant secretary, any assistant treasurer or any assistant vice president or any other officer of the Trustee customarily performing
functions similar to those performed by any of the above designated officers and also means, with respect to a particular corporate trust matter, any other officer to whom such matter is referred because of his knowledge of and familiarity with the
particular subject and who shall have direct responsibility for the administration of this Indenture. 
 “Restricted
Subsidiary” means (i) any Significant Subsidiary of the Company existing on the date hereof, (ii) any Subsidiary of the Company, organized or acquired after the date hereof which is a Significant Subsidiary and (iii) an
Unrestricted Subsidiary which is reclassified as a Restricted Subsidiary by a resolution adopted by the Board of Directors. 

“Sale and Leaseback Transaction” means any arrangement with any bank, insurance company or other lender or
investor (other than the Company or a Subsidiary), or to which such lender or investor is a party, providing for the leasing by the Company or any Subsidiary of any property or asset of the Company or any Subsidiary that has been or is to be sold or
transferred by the Company or any Subsidiary to such lender or investor or to any Person (other than the Company or a Subsidiary) to whom funds have been or are to be advanced by such lender or investor on the security of such property or asset.

 “Second Supplemental Indenture” has the meaning set forth in the Recital. 

“Senior Notes” has the meaning set forth in the Recitals. 

“Significant Subsidiary” means a Subsidiary, including its direct and indirect Subsidiaries, which meets any
of the following conditions (in each case determined in accordance with GAAP): (i) the Company’s and its other Subsidiaries’ investment in and advances to the Subsidiary exceed ten percent (10%) of the total assets of the Company
and its Subsidiaries consolidated as of the end of the most recently completed fiscal year; (ii) the Company’s and its other Subsidiaries’ proportionate share of the total assets (after inter-company eliminations) of the Subsidiary
exceeds ten percent (10%) of the total assets of the Company and its Subsidiaries consolidated as of the end of the most recently completed fiscal year; or (iii) the Company’s and its other Subsidiaries’ equity interest in the
income from continuing operations before income taxes, extraordinary items and cumulative effect of a change in accounting principles of the Subsidiary exceed ten percent (10%) of such income of the Company and its Subsidiaries consolidated for
the most recently completed fiscal year. 

  
 5 

 “Surplus Debt” of any Person engaged in the insurance business
means any liability of such Person to another for repayment of a sum of money to such other Person under a written agreement approved by an Insurance Regulator providing for such liability to be paid only out of surplus of such Person in excess of a
minimum amount of surplus specified in such agreement. 
 “Trustee” has the meaning set forth in the
Recitals. 
 “Unrestricted Subsidiary” means any Subsidiary of the Company which is not a Restricted
Subsidiary. 
 “Voting Stock” means capital stock, the holders of which have general voting power under
ordinary circumstances to elect at least a majority of the board of directors of a corporation, provided that, for the purposes of such definition, capital stock which by a resolution adopted by the Board of Directors carries only the right to vote
conditioned on the happening of an event shall not be considered Voting Stock, whether or not such event shall have happened. 
 ARTICLE II

 TERMS AND CONDITIONS OF THE SENIOR NOTES 

Pursuant to Section 3.1 of the Base Indenture, the Senior Notes are hereby established with the following terms and other provisions:

 Section 2.1 Designation and Principal Amount 

(a) There is hereby authorized a series of Debt Securities designated the “4.70% Senior Notes due 2023,” initially in the aggregate
principal amount at maturity of Four Hundred Million Dollars ($400,000,000). 
 (b) Without the consent of the Holders of the Senior Notes,
the Company may from time to time, create and issue additional Senior Notes having the same terms and conditions as the Senior Notes in all respects, except for issue date, issue price, and if applicable, the first payment of interest thereon.
Additional Senior Notes issued after the date hereof will form a single series with all such outstanding Senior Notes; provided that additional Senior Notes will not be issued with the same CUSIP, if any, as existing Senior Notes unless such
additional Senior Notes are fungible with existing Senior Notes for U.S. Federal income tax purposes. 
 Section 2.2 Issue Date; Maturity 

Subject to Section 2.1(b), the Senior Notes shall initially be issued as of the date hereof; the Stated Maturity of the Senior Notes shall
be September 15, 2023 or if such day is not a Business Day, the next Business Day. 
 Section 2.3 Percentage of Principal Amount 

Subject to Section 2.1(b), the Senior Notes will initially be issued at 99.623% of the principal amount. 

  
 6 

 Section 2.4 Place of Payment and Surrender for Registration of Transfer 

(a) Payment of principal of (and premium, if any) and interest on Senior Notes shall be made, the transfer of Senior Notes will be registrable,
and Senior Notes will be exchangeable for Senior Notes of other denominations of a like principal amount at the office or agency of the Company maintained for such purpose, initially the Corporate Trust Office of the Trustee. Payment of any
principal (and premium, if any) and interest, on Senior Notes issued as Global Senior Notes shall be payable by the Company through the Paying Agent to the Depositary in immediately available funds. 

(b) Payment of principal of (and premium, if any) and interest on Senior Notes issued in physical form shall be made, the transfer of Senior
Notes will be registrable, and Senior Notes will be exchangeable for Senior Notes of other denominations of a like principal amount at the office or agency of the Company maintained for such purpose, initially the Corporate Trust Office of the
Trustee; provided that, at the Company’s option, interest on Senior Notes issued in physical form may be payable by (i) a U.S. Dollar check drawn on a bank in The City of New York mailed to the address of the Person entitled
thereto as such address shall appear in the Register, or (ii) upon application to the Security Registrar not later than the relevant Regular Record Date by a Holder of a principal amount of Securities in excess of $5,000,000, wire transfer in
immediately available funds, which application shall remain in effect until the Holder notifies, in writing, the Security Registrar to the contrary. 

Section 2.5 Registered Securities; Form; Denominations; Depositary 

(a) Subject to Section 2.1(b), the Senior Notes shall be issued in fully registered form, without coupons, as Registered Securities and
shall initially be issued in the form of one or more permanent Global Notes (the “Global Senior Notes”), and with the legends contained in, the form of Exhibit A hereto. 

(b) The Senior Notes shall not be issuable in bearer form. The terms and provisions contained in the form of Senior Note shall constitute, and
are hereby expressly made, a part of the Indenture and to the extent applicable, the Company, and the Trustee, by their execution and delivery of the Indenture, expressly agree to such terms and provisions and to be bound thereby. 

(c) The Senior Notes shall be issued in denominations of $2,000 and integral multiples of $1,000 in excess thereof. 

(d) Initially, the Depositary for the Senior Notes will be The Depository Trust Company. The Global Senior Notes will be registered in the name
of the Depositary or its nominee, Cede & Co., and held by the Trustee as custodian for the Depositary for crediting to the accounts of its participants. 

Section 2.6 Interest 
 (a) The Senior
Notes will bear interest at a rate of 4.70% per annum on the principal amount thereof from and including September 24, 2013 to, but excluding, September 15, 2023, payable semiannually in arrears on March 15 and September 15
of each year (each, an “Interest Payment Date”), commencing on March 15, 2014. The Regular Record Dates for the Senior Notes shall be the immediately preceding March 1 and September 1, respectively, of each year. 

  
 7 

 (b) The amount of interest payable on the Senior Notes for any period will be computed on the
basis of a 360-day year of twelve 30-day months. In the event that any date on which interest is payable on the Senior Notes is not a Business Day, payment of the interest payable on such date will be made on the next day that is a Business Day (and
without any additional interest or other payment in respect of any such delay), except that, if such Business Day is in the next calendar year, such payment will be made on the preceding Business Day with the same force and effect as if made on the
date such payment was originally payable. 
 (c) The Company shall pay interest on overdue principal and on overdue installments of interest
(without regard to any applicable grace periods) from time to time on demand at the rate borne by the Senior Notes plus 1% per annum to the extent lawful. 

Section 2.7 Optional Redemption 
 (a)
The Company may, at its option, redeem the Senior Notes, in whole or in part, at any time, or from time to time, at a Redemption Price equal to the greater of: (i) 100% of the principal amount of the Senior Notes to be redeemed, and
(ii) as determined by the Quotation Agent, the sum of the present values of the remaining scheduled payments of principal and interest thereon (not including any portion of those payments of interest accrued as of the date of redemption)
discounted to the date of redemption on a semi-annual basis (assuming a 360-day year consisting of twelve 30-day months) at the Adjusted Treasury Rate plus 30 basis points plus, in each case, accrued interest thereon to the date of redemption. 

(b) The redemption provisions of Article XII of the Base Indenture shall apply to the Senior Notes. 

Section 2.8 No Sinking Fund 
 The
Senior Notes shall not be subject to a sinking fund provision. The provisions contained in Article XIII of the Base Indenture shall not apply to the Senior Notes. 

Section 2.9 Events of Default 
 In
addition to the Events of Default set forth in Section 5.1 of the Base Indenture, it shall be an “Event of Default” with respect to the Senior Notes if the following occurs and shall be continuing: an acceleration of the maturity of
any Indebtedness of the Company or any Subsidiary, in an aggregate principal amount in excess of One Hundred Million Dollars ($100,000,000), if such failure to pay is not discharged or such acceleration is not annulled within 15 days after the
Company shall have received due notice of such acceleration. 
 The additional Events of Default set forth in this Section 2.9 are
expressly being included solely to be applicable to the Senior Notes specified in this Second Supplemental Indenture. 

  
 8 

 Section 2.10 Ranking 

The Senior Notes shall constitute the senior debt obligations of the Company and shall rank equally in right of payment with all other existing
and future senior debt obligations of the Company. 
 Section 2.11 Paying Agent; Security Registrar 

Initially, the Trustee shall act as Paying Agent and Security Registrar. If the Senior Notes are issued in definitive form, the Corporate Trust
Office shall be the office or agency of the Paying Agent and the Security Registrar for the Senior Notes. 
 Section 2.12 Defeasance 

The defeasance provisions of Article XIV of the Base Indenture shall apply to the Senior Notes. 

Section 2.13 No Conversion 
 The
Senior Notes will not be convertible into shares of Common Stock or any other security. The provisions contained in Article XV of the Base Indenture shall not apply to the Senior Notes. 

Section 2.14 CUSIP Numbers 
 The
Company in issuing the Senior Notes may use “CUSIP” numbers (if then generally in use), and, if so, the Trustee shall use “CUSIP” numbers in notices of redemption as a convenience to Holders; provided that any such notice
may state that no representation is made as to the correctness of such numbers either as printed on the Senior Notes or as contained in any notice of a redemption and that reliance may be placed only on the other identification numbers printed on
the Senior Notes, and any such redemption shall not be affected by any defect in or omission of such numbers. The Company will promptly notify the Trustee of any change in the “CUSIP” numbers. 

Section 2.15 Definitive Form of Senior Notes 

The Senior Notes will be issued in definitive form only under the limited circumstances set forth in Section 3.4(b) of the Base Indenture.

 Section 2.16 Company Reports  

The provisions of Section 7.4 of the Base Indenture relating to the nature, content and date for reports by the Company to the Holders, to
the extent such provisions are mandated by the Trust Indenture Act, shall apply to the Senior Notes. 

  
 9 

 ARTICLE III 

COVENANTS 
 Article XI of the Base
Indenture is hereby supplemented by the following additional covenants of the Company: 
 Section 3.1 Limitation on Liens 

The Company will not, and will not permit any Subsidiary to, incur, issue, assume or guaranty any Indebtedness if such Indebtedness is secured
by a mortgage, pledge of, lien on, security interest in or other encumbrance upon any shares of Voting Stock of any Restricted Subsidiary, whether such Voting Stock is now owned or is hereafter acquired, without providing that the Senior Notes
(together with, if the Company shall so determine, any other Indebtedness or obligations of the Company or any Subsidiary ranking equally with such Senior Notes and then existing or thereafter created) shall be secured equally and ratably, or prior
to, with such Indebtedness. The foregoing limitation shall not apply to (a) Indebtedness incurred, issued, assumed, guaranteed or permitted to exist and secured by liens, security interests, pledges or other encumbrances which does not exceed
10% of the Company’s then Consolidated Tangible Net Worth; (b) Indebtedness secured by a pledge of, lien on or security interest in any shares of Voting Stock of any corporation if such pledge, lien or security interest is made or granted
prior to or at the time such corporation becomes a Restricted Subsidiary; provided that such pledge, lien or security interest was not created in anticipation of the transfer of such shares of Voting Stock to the Company or its Subsidiaries;
(c) liens or security interests securing Indebtedness of a Restricted Subsidiary to the Company or another Restricted Subsidiary; or (d) the extension, renewal or replacement (or successive extensions, renewals or replacements), in whole
or in part, of any lien or security interest referred to in the foregoing clauses (b) and (c) but only if the principal amount of Indebtedness secured by the liens or security interests immediately prior thereto is not increased and the
lien or security interest is not extended to other property. 
 Section 3.2 Limitations on Issuance or Disposition of Stock of Restricted
Subsidiaries 
 The Company will not, nor will it permit any Restricted Subsidiary to, issue, sell, assign, transfer or otherwise
dispose of any shares of Capital Stock (other than nonvoting preferred stock) of any Restricted Subsidiary (or of any Subsidiary having direct or indirect control of any Restricted Subsidiary), except for, subject to Article IX of the Base
Indenture, (a) director’s qualifying shares; (b) a sale, assignment, transfer or other disposition of any Capital Stock of any Restricted Subsidiary (or of any Subsidiary having direct or indirect control of any Restricted Subsidiary)
to the Company or to one or more Restricted Subsidiaries; (c) a sale, assignment, transfer or other disposition of all or part of the Capital Stock of any Restricted Subsidiary (or of any Subsidiary having direct or indirect control of any
Restricted Subsidiary) for consideration which is at least equal to the fair value of such Capital Stock as determined by the Company’s Board of Directors acting in good faith; (d) the issuance, sale, assignment, transfer or other
disposition made in compliance with an order of a court or regulatory authority of competent jurisdiction, other than an order issued at the request of the Company or any Restricted Subsidiary; or (e) issuance for consideration which is at
least equal to fair value as determined by the Company’s Board of Directors acting in good faith. 

  
 10 

 ARTICLE IV 

MISCELLANEOUS 
 Section 4.1 Ratification,
Extension and Renewal of Indenture 
 The Base Indenture, as supplemented and amended by this Second Supplemental Indenture, is ratified,
confirmed, extended and renewed, and this Second Supplemental Indenture shall be deemed part of the Base Indenture in the manner and to the extent herein and therein provided. If any provision of this Second Supplemental Indenture is inconsistent
with a provision of the Base Indenture, the terms of this Second Supplemental Indenture shall control. This Second Supplemental Indenture shall only apply to the Senior Notes and shall not apply to any other Debt Securities of any other series
issued under the Base Indenture (unless otherwise specified pursuant to Section 3.1 of the Base Indeture for Debt Securities of any such series). 

Section 4.2 Trustee Not Responsible for Recitals 

The Recitals are made by the Company and not by the Trustee, and the Trustee assumes no responsibility for the correctness thereof. The Trustee
makes no representation as to the validity or sufficiency of this Second Supplemental Indenture or the Senior Notes. The Trustee shall not be accountable for the use or application by the Company of the Senior Notes or the proceeds thereof. 

Section 4.3 Governing Law 
 This
Second Supplemental Indenture and the Senior Notes shall be governed by, and construed in accordance with, the laws of the State of New York. 

Section 4.4 Severability 
 In case
any one or more of the provisions contained in this Second Supplemental Indenture or in the Senior Notes shall for any reason be held to be invalid, illegal or unenforceable in any respect, such invalidity, illegality or unenforceability shall not
affect any other provisions of this Second Supplemental Indenture or of the Senior Notes, but this Second Supplemental Indenture and the Senior Notes shall be construed as if such invalid or illegal or unenforceable provision had never been
contained herein or therein. 
 Section 4.5 Counterparts 

This Second Supplemental Indenture may be executed in any number of counterparts each of which shall be an original; but such counterparts
shall together constitute but one and the same instrument. 
 Section 4.6 Successors and Assigns 

All covenants and agreements in the Indenture by the Company shall bind its successors and assigns, whether expressed or not. The Company will
have the right at all times to assign any of its respective rights or obligations under the Indenture to a direct or indirect wholly owned Subsidiary of the Company; provided that, in the event of any such assignment, the Company

  
 11 

 
will remain liable for all of its respective obligations. Subject to the foregoing, the Indenture will be binding upon and inure to the benefit of the parties thereto and their respective
successors and assigns. This Indenture may not otherwise be assigned by the parties thereto. 
 Signature page follows. 

  
 12 

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

			
	REINSURANCE GROUP OF AMERICA,
INCORPORATED
		
	By:	 	/s/ Jack B. Lay
		 	Jack B. Lay
		 	 Senior Executive Vice President and
 Chief
Financial Officer

  

	
	 Attest:
  

/s/ William L. Hutton

	William L. Hutton
	 Executive Vice President, General
 Counsel and
Secretary

 Seal 
  

			
	THE BANK OF NEW YORK MELLON TRUST
COMPANY, N.A., as Trustee
		
	By:	 	/s/ R. Tarnas
		 	Name: R. Tarnas
		 	Title: Vice President

  
 1 

 EXHIBIT A 

FORM OF SENIOR NOTE 
 [FACE
OF SENIOR NOTE] 
 [THIS SENIOR NOTE IS A GLOBAL NOTE WITHIN THE MEANING OF THE INDENTURE HEREINAFTER REFERRED TO AND IS REGISTERED IN THE NAME OF
CEDE & CO. AS NOMINEE OF THE DEPOSITORY TRUST COMPANY (THE “DEPOSITARY”), OR A NOMINEE OF THE DEPOSITARY. THIS NOTE IS EXCHANGEABLE FOR SENIOR NOTES REGISTERED IN THE NAME OF A PERSON OTHER THAN THE DEPOSITARY OR ITS NOMINEE ONLY
IN THE LIMITED CIRCUMSTANCES DESCRIBED IN THE INDENTURE, AND NO TRANSFER OF THIS SENIOR NOTE (OTHER THAN A TRANSFER OF THIS SENIOR NOTE AS A WHOLE BY THE DEPOSITARY TO A NOMINEE OF THE DEPOSITARY OR BY A NOMINEE OF THE DEPOSITARY TO THE DEPOSITARY
OR ANOTHER NOMINEE OF THE DEPOSITARY OR BY THE DEPOSITARY OR ANY SUCH NOMINEE TO A SUCCESSOR DEPOSITARY OR A NOMINEE OF SUCH SUCCESSOR DEPOSITARY) MAY BE REGISTERED UNLESS AND UNTIL THIS SENIOR NOTE IS EXCHANGED IN WHOLE OR IN PART FOR SENIOR NOTES
IN DEFINITIVE FORM. UNLESS THIS SENIOR NOTE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITARY TO REINSURANCE GROUP OF AMERICA, INCORPORATED OR ITS AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE, OR PAYMENT, AND ANY SENIOR NOTE ISSUED IS
REGISTERED IN THE NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITARY (AND ANY PAYMENT IS MADE TO CEDE & CO., OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED
REPRESENTATIVE OF THE DEPOSITARY), ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN.]* 
 REINSURANCE GROUP OF AMERICA, INCORPORATED 

4.70% Senior Notes due 2023 
  

			
	Certificate No.: R-            	  	$                    
	CUSIP No.: 759351AL3	  	

 This Senior Note is one of a duly authorized series of Debt Securities of REINSURANCE GROUP OF AMERICA,
INCORPORATED (the “Senior Notes”), all issued under and pursuant to an Indenture dated as of August 21, 2012, duly executed and delivered by REINSURANCE GROUP OF AMERICA, INCORPORATED, a Missouri corporation (the “Company”,
which term includes any successor corporation under the Indenture hereinafter referred to), and The Bank of New York Mellon Trust Company, N.A., as trustee (the “Trustee”), as supplemented by the Second Supplemental Indenture thereto dated
September 24, 2013, between the Company and the Trustee, to which Indenture and all indentures supplemental thereto reference is hereby made for a description of the rights, limitations of rights, obligations, duties and immunities thereunder
of the Trustee, the Company and the Holders of the Senior Notes. By the terms of the Indenture, the Debt Securities are issuable in series that may vary as to amount, date of maturity, rate of interest and in other respects as provided in the
Indenture. 
  

	* 	Insert if Senior Notes are in global form. 

  
 A-1 

 The Company, for value received, hereby promises to pay to [Cede & Co.]*, or registered assigns, the principal sum of
            ($            ) [(as increased or decreased on the attached Schedule of Increases and Decreases)]* on September 15, 2023 or if such date is not a Business Day, the following Business Day. 

Interest Payment Dates: March 15 and September 15, commencing on March 15, 2014. 

Record Dates: March 1 and September 1. 

Reference is hereby made to the further provisions of this Senior Note set forth on the reverse hereof, which further provisions shall for all
purposes have the same effect as if set forth at this place. 
 IN WITNESS WHEREOF, the Company has caused this Senior Note to be duly
executed manually or by facsimile by its duly authorized officers under its corporate seal. 
  

			
	REINSURANCE GROUP OF AMERICA, INCORPORATED
		
	By:	 	  

		 	Jack B. Lay
		 	Senior Executive Vice President and Chief Financial Officer

  

			
	Attest:	 	
	
	  

	William L. Hutton
	 Executive Vice President, General

Counsel and Secretary

 TRUSTEE’S CERTIFICATE OF AUTHENTICATION 

This is one of the 4.70% Senior Notes due 2023 issued under the within mentioned Indenture. 

THE BANK OF NEW YORK MELLON TRUST COMPANY, N.A., as Trustee 
  

			
	By:	 	  

		 	Authorized Signatory
	
	Dated: September 24, 2013

  

	* 	Insert if Senior Notes are in global form. 

  
 A-2 

 [REVERSE OF SENIOR NOTE] 

REINSURANCE GROUP OF AMERICA, INCORPORATED 

4.70% Senior Notes due 2023 

To the extent that any rights or other provisions of this Senior Note differ from or are inconsistent with those contained in the Indenture,
then the Indenture shall control. Capitalized terms used herein but not defined shall have the meanings assigned to them in the Indenture referred to below unless otherwise indicated. 

 

	1.	Principal and Interest. 

 Reinsurance Group of America, Incorporated, a Missouri
corporation (the “Company”), promises to pay interest on the principal amount of this Senior Note in the manner specified below at the rate of 4.70% per annum from and including September 24, 2013, to, but excluding, the Stated
Maturity. The Company will pay interest on this Senior Note semiannually in arrears on March 15 and September 15 of each year (each an “Interest Payment Date”), commencing on March 15, 2014. Interest not paid on the
scheduled Interest Payment Date will accrue and compound semiannually at the rate borne by the principal amount of this Senior Note. 

Interest on the Senior Notes shall be computed on the basis of a 360-day year of twelve 30-day months. 

The Company shall pay interest on overdue principal and on overdue installments of interest (without regard to any applicable grace periods)
from time to time on demand at the rate borne by the Senior Notes plus 1% per annum to the extent lawful. 
  

	2.	Ranking. 

 The Senior Notes shall constitute the senior debt obligations of the Company
and shall rank equally in right of payment with all other existing and future senior debt obligations of the Company. 
  

	3.	Method of Payment. 

 Interest on any Senior Note which is payable, and is punctually paid
or duly provided for, on any Interest Payment Date shall be paid to the person in whose name that Senior Note (or one or more Predecessor Securities) is registered at the close of business on the Regular Record Date for the payment of such interest.
In the event that any date on which interest is payable on the Senior Notes is not a Business Day, payment of the interest payable on such date will be made on the next day that is a Business Day (and without any additional interest or other payment
in respect of any such delay), except that, if such Business Day is in the next calendar year, such payment will be made on the preceding Business Day with the same force and effect as if made on the date such payment was originally payable. 

  
 A-3 

	4.	Paying Agent and Security Registrar. 

 Initially, The Bank of New York Mellon Trust
Company, N.A., the Trustee, will act as Paying Agent and Security Registrar. The Company may change the Paying Agent and Security Registrar without notice to any Holder. The Company or any of its Subsidiaries may, subject to certain exceptions, act
in any such capacity. 
  

	5.	Indenture. 

 This Senior Note is one of a duly authorized series of the 4.70% Senior
Notes due 2023 (the “Senior Notes”) of Reinsurance Group of America, Incorporated, a Missouri corporation (including any successor corporation under the Indenture hereinafter referred to, the “Company”), initially
limited in aggregate principal amount to $400,000,000 and issued under an Indenture, dated as of August 21, 2012 (the “Base Indenture”), as supplemented by a Second Supplemental Indenture dated as of September 24, 2013
(the “Second Supplemental Indenture” and, together with the Base Indenture, the “Indenture”), in each case, between the Company and The Bank of New York Mellon Trust Company, N.A., as trustee (the
“Trustee”). The terms of this Senior Note include those stated in the Indenture and those made part of the Indenture by reference to the Trust Indenture Act of 1939, as amended (“TIA”). This Senior Note is subject
to all such terms, and by acceptance hereof, Holders agree to be bound by all of such terms, as the same may be amended from time to time. Holders are referred to the Indenture and the TIA for a statement of all such terms. To the extent permitted
by applicable law, in the event of any inconsistency between the terms of this Senior Note and the terms of the Indenture, the terms of the Indenture shall control. Capitalized terms used but not defined herein have the meanings assigned to them in
the Indenture referred to below unless otherwise indicated. 
  

	6.	Optional Right of Redemption. 

 (a) The Company may, at its option, redeem the Senior
Notes, in whole or in part, at any time at a Redemption Price equal to the greater of: (a) 100% of the principal amount of the Senior Notes to be redeemed, and (b) as determined by the Quotation Agent, the sum of the present values of the
remaining scheduled payments of principal and interest thereon (not including any portion of those payments of interest accrued as of the date of redemption) discounted to the date of redemption on a semi-annual basis (assuming a 360-day year
consisting of twelve 30-day months) at the Adjusted Treasury Rate plus 30 basis points plus, in each case, accrued interest thereon to the date of redemption. 

(b) The redemption provisions of Article XII of the Base Indenture shall apply to the Senior Notes. 

“Adjusted Treasury Rate” means, with respect to any date of redemption, the rate per annum equal to the semi-annual
equivalent yield to maturity of the Comparable Treasury Issue, assuming a price for the Comparable Treasury Issue (expressed as a percentage of its principal amount) equal to the Comparable Treasury Price for that date of redemption. 

  
 A-4 

 “Comparable Treasury Issue” means the United States Treasury security selected
by the Quotation Agent as having a maturity comparable to the remaining term of the Senior Notes to be redeemed that would be utilized, at the time of selection and in accordance with customary financial practice, in pricing new issues of corporate
debt securities of comparable maturity to the remaining term of the Senior Notes. 
 “Comparable Treasury Price” means,
with respect to any date of redemption, (i) the average of the Reference Treasury Dealer Quotations for the date of redemption, after excluding the highest and lowest Reference Treasury Dealer Quotations, or (ii) if the Quotation Agent
obtains fewer than three (3) Reference Treasury Dealer Quotations, the average of all such Reference Treasury Dealer Quotations. 

“Quotation Agent” means one of the Reference Treasury Dealers appointed by the Company. 

“Reference Treasury Dealer” means (i) J.P. Morgan Securities LLC, Merrill Lynch, Pierce, Fenner & Smith
Incorporated and UBS Securities LLC, and, in each case, their respective successors or their respective affiliates that are Primary Treasury Dealers (as defined herein); provided, however, that if any of them shall cease to be a Primary Treasury
Dealer, the Company shall substitute therefor another nationally recognized investment banking firm that is a primary U.S. Government securities dealer in the United States (a “Primary Treasury Dealer”), and (ii) one other Primary
Treasury Dealer selected by the Company. 
 “Reference Treasury Dealer Quotations” means, with respect to each Reference
Treasury Dealer and any date of redemption, the average, as determined by the Quotation Agent, after consultation with the Company, of the bid and asked prices for the Comparable Treasury Issue (expressed in each case as a percentage of its
principal amount) quoted in writing to the Quotation Agent by that Reference Treasury Dealer at 5:00 p.m., New York City time, on the third business day preceding that date of redemption. 

Pursuant to Article XII of the Base Indenture, notice of any redemption will be mailed at least 30 days but not more than 60 days
before the date of redemption to each Holder of the Senior Notes to be redeemed. 
  

	7.	No Sinking Fund. 

 The Senior Notes will not be subject to a sinking fund provision. 

 

	8.	Defaults and Remedies. 

 The Indenture provides that an Event of Default with respect to
the Senior Notes occurs upon the occurrence of specified events. If an Event of Default shall occur and be continuing, the principal of all of the Senior Notes may become or be declared due and payable, in the manner, with the effect provided in the
Indenture. 
  

	9.	Amendment; Supplement; Waiver. 

 The Indenture provides for amendments, supplements and
waivers with respect to the Indenture as set forth in Article X of the Base Indenture. 

  
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	10.	Restrictive Covenants. 

 The Indenture imposes certain limitations on the ability of the
Company and its Subsidiaries to, among other things, create certain liens, issue or dispose of stock of Restricted Subsidiaries and consummate certain mergers and consolidations or sales of all or substantially all of its assets. The limitations are
subject to a number of important qualifications and exceptions. 
  

	11.	Denomination; Transfer; Exchange. 

 The Senior Notes of this series are issuable only in
registered form without coupons in denominations of $2,000 and integral multiples of $1,000 in excess thereof. As provided in the Indenture and subject to certain limitations herein and therein set forth, Senior Notes of this series so issued are
exchangeable for a like aggregate principal amount at maturity of Senior Notes of this series of a different authorized denomination, as requested by the Holder surrendering the same. 

As provided in the Indenture and subject to certain limitations therein set forth, this Senior Note is transferable by the registered Holder
hereof on the Security Register of the Company, upon surrender of this Senior Note for registration of transfer at the office or agency of the Trustee in the City and State of New York accompanied by a written instrument or instruments of transfer
in form satisfactory to the Company or the Trustee duly executed by the registered Holder hereof or his attorney duly authorized in writing, and thereupon one or more new Senior Notes of authorized denominations and for the same aggregate principal
amount at maturity will be issued to the designated transferee or transferees. No service charge will be made for any such transfer, but the Company may require payment of a sum sufficient to cover any tax or other governmental charge payable in
relation thereto. 
  

	12.	Persons Deemed Owners. 

 The registered Holder of this Senior Note shall be treated as
its owner for all purposes. 
  

	13.	Defeasance. 

 Subject to certain conditions contained in the Indenture, at any time some
or all of the Company’s obligations under the Senior Notes and the Indenture may be discharged if the Company deposits with the Trustee money and/or U.S. Government Obligations sufficient to pay the principal of and interest on the Senior Notes
to Stated Maturity. 
  

	14.	No Recourse Against Others. 

 No recourse shall be had for the payment of the principal
of or the interest on this Senior Note, or any part hereof or of the indebtedness represented hereby, or upon any obligation, covenant or agreement of the Indenture, against any incorporator, shareholder, officer or director, as such, past, present
or future, of the Company (or any incorporator, shareholder, officer or director of any predecessor or successor corporation), either directly or through the Company (or of any predecessor or successor corporation), whether by virtue of any
constitution, statute or rule of law, or by the enforcement of any assessment or penalty or otherwise, all such liability 

  
 A-6 

 
being, by the acceptance hereof and as part of the consideration for the issuance hereof, expressly waived and released; provided, however, that nothing herein shall be taken to prevent recourse
to and the enforcement of the liability, if any, of any shareholder or subscriber to capital stock upon or in respect of the shares of capital stock not fully paid. 
  

	15.	CUSIP Numbers. 

 The Company may cause CUSIP numbers to be printed on the Senior Notes as
a convenience to Holders. No representation is made as to the accuracy of such numbers, and reliance may be placed only on the other identification numbers printed hereon. 
  

	16.	Authentication. 

 This Senior Note shall not be valid until the Trustee (or
authenticating agent) executes the certificate of authentication on the other side of this Senior Note. 
  

	17.	Governing Law. 

 The Indenture and this Senior Note shall be governed by, and construed
in accordance with, the laws of the State of New York. 

  
 A-7 

 SCHEDULE OF INCREASES OR DECREASES IN GLOBAL SENIOR NOTE* 
 The initial aggregate principal amount of the Senior Notes is $400,000,000. The
following increases or decreases in this Global Senior Note have been made: 
  

									
	 Date of Exchange
	  	Amount of decrease
in Principal Amount
of Senior Notes
evidenced by this
Global Senior Note	  	Amount of increase
in Principal Amount
of Senior Notes
evidenced by this
Global Senior Note	  	Principal Amount of
Senior Notes
evidenced by this
Global Senior Note
following such
decrease or increase	  	Signature of
authorized officer of
Trustee or Securities
Custodian

 
  

	* 	Insert if Senior Notes are in global form. 

  
 A-8

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