Document:

Exhibit

Exhibit 10.01
THE USE OF THE FOLLOWING NOTATION IN THIS EXHIBIT INDICATES THAT THE CONFIDENTIAL PORTION HAS BEEN OMITTED PURSUANT TO A REQUEST FOR CONFIDENTIAL TREATMENT AND THE OMITTED MATERIAL HAS BEEN FILED SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION: [REDACTED]

ANNUITY REINSURANCE AGREEMENT 
 
between
HARTFORD LIFE INSURANCE COMPANY 
 
(the “Company”)
 
and 
 
COMMONWEALTH ANNUITY AND LIFE INSURANCE COMPANY
BRIGHTON, MASSACHUSETTS
(the “Reinsurer”)
 
Dated June 1, 2018 
 

TABLE OF CONTENTS
Page
ARTICLE IDEFINITIONS    1
ARTICLE IICOVERAGE    16
ARTICLE IIIADMINISTRATION; GENERAL PROVISIONS    18
ARTICLE IVINITIAL PAYMENTS    22
ARTICLE VADDITIONAL REINSURANCE PREMIUMS; EXPENSE ALLOWANCE; COMMISSIONS    26
ARTICLE VIACCOUNTING AND SETTLEMENT    26
ARTICLE VIITERMINATION FOR NON-PAYMENT    29
ARTICLE VIIIRECAPTURE    29
ARTICLE IXTRUST ACCOUNT    33
ARTICLE XDURATION AND TERMINATION    37
ARTICLE XIINSOLVENCY    37
ARTICLE XIIDISPUTE RESOLUTION REGARDING ADMINISTRATION    38
ARTICLE XIIIDAC TAX ELECTION    39
ARTICLE XIVCONFIDENTIALITY    40
ARTICLE XVREPRESENTATIONS AND COVENANTS    41
ARTICLE XVIINDEMNIFICATION    54
ARTICLE XVIIREINSURANCE CREDIT    62
ARTICLE XVIIIMISCELLANEOUS PROVISIONS    63

SCHEDULES

SCHEDULE 1.1(a)    -    INTERIM PERIOD INTEREST
SCHEDULE 1.1(b)    -    KNOWLEDGE OF THE COMPANY
SCHEDULE A    -    REINSURED CONTRACTS
SCHEDULE B    -    AMORTIZATION OF CEDING COMMISSION

SCHEDULE C    -    RECAPTURE PAYMENT FORMULA
SCHEDULE D    -    TERMINAL ACCOUNTING SETTLEMENT REPORT  
SCHEDULE E    -    EXPENSE ALLOWANCE
SCHEDULE F-1    -    MONTHLY REINSURANCE SETTLEMENT REPORT
SCHEDULE F-2    -    SERIATIM DATA REPORT 
SCHEDULE F-3    -    STATEMENT OF NAIC RESERVES
SCHEDULE G    -    ANNUAL FINANCIAL REPORTS
SCHEDULE H    -    ONGOING REPORTS
SCHEDULE I        -    INTEREST MAINTENANCE RESERVE 
SCHEDULE J        -    COMMISSIONS

EXHIBITS

EXHIBIT 1        -    TRUST AGREEMENT
EXHIBIT 2        -    FORM OF RETROCESSION TRUST AGREEMENT
		
	EXHIBIT 3
	-    INVESTMENT GUIDELINES

ANNEXES

		
	ANNEX A-1
	-    ASSETS IN CONNECTION WITH ESTIMATED INITIAL REINSURANCE PREMIUM PART A

		
	ANNEX B-1
	-    ASSETS IN CONNECTION WITH ESTIMATED INITIAL REINSURANCE PREMIUM PART B

ANNUITY REINSURANCE AGREEMENT
This Annuity Reinsurance Agreement, dated June 1, 2018 (this “Agreement”), is made and entered into by and between Hartford Life Insurance Company, a life insurance company organized under the laws of Connecticut (the “Company”), and Commonwealth Annuity and Life Insurance Company, a life insurance company organized under the laws of the Commonwealth of Massachusetts (the “Reinsurer”).  
The Company agrees to cede and the Reinsurer agrees to accept liability under the terms and conditions stated herein.  This Agreement is an indemnity reinsurance agreement solely between the Company and the Reinsurer.  The Company shall be and shall remain the only party hereunder that is liable to any insured, contract holder, claimant or beneficiary under any annuity contract reinsured hereunder.
ARTICLE I 
DEFINITIONS
1.1.    Definitions.  As used in this Agreement, the following terms shall have the following meanings (definitions are applicable to both the singular and the plural forms of each term defined in this Article):
“Account Value” means the account value, as defined in and determined in accordance with the express terms of the Reinsured Contracts hereunder, without regard to surrender charges.
“Action” means any claim, action, suit, litigation, arbitration, investigation, inquiry, hearing, charge, complaint, demand, notice or proceeding by or before any Governmental Authority or arbitrator or arbitration panel or similar Person or body.
“Actuarial Appraisal” shall have the meaning specified in Section 15.1(m)(i). 
“Actuarial Standards of Practice” means the actuarial standards of practice in effect as of the date of determination, as published by the Actuarial Standards Board, or any successor thereto.
“Additional Reports” shall have the meaning specified in Section 3.9(c).
“Affiliate” means, with respect to any Person, any other Person that directly or indirectly controls, is controlled by, or is under common control with, such Person.  “Control” (including the terms, “controlled by” and “under common control with”) means the possession, directly or indirectly, of the power to direct or cause the direction of the management and policies of a Person, whether through the ownership of voting securities, by contract or credit arrangement, as trustee or executor, or otherwise.
“After-Tax Basis” means that, in determining the amount of the payment necessary to indemnify and hold harmless any party against Losses, the amount of such Losses shall be 

determined net of any Tax benefit actually realized by the Indemnified Party (or any Affiliate thereof) in the Tax year an indemnity payment is made as the result of sustaining or paying such Losses (including as the result of facts or circumstances due to which the Indemnified Party sustained or paid such Losses).  Such Tax benefits shall be computed assuming that the Indemnified Party (or such Affiliate) recognized all other items of income, gain, loss, deduction or credit before recognizing any item arising from the receipt of any indemnity payment made pursuant to this Agreement or as a result of sustaining or paying any indemnifiable Loss.
“Agreement” shall have the meaning specified in the first paragraph of this Agreement.
“Anti-Bribery Laws” means any Applicable Laws with respect to the offering, giving, receiving or soliciting, directly or indirectly, of anything of value to improperly influence the actions of any Governmental Authority or any employee or Representative thereof, including the U.S. Foreign Corrupt Practices Act of 1977.
“Applicable Law” means any federal, state, local, foreign or territorial law (including common law), treaty, convention, code, statute, ordinance, directive, rule, regulation, decree, order, writ, injunction, judgment, permit, agency requirement, interpretation, Governmental Order, rule of any self-regulatory organization, governmental agreement or other requirement or rule of law applicable to a Person or, as applicable, any of such Person’s subsidiaries, properties, assets, or to such Person’s officers, directors, managing directors, employees or agents in their capacity as such.
“ARIAS-US” shall have the meaning specified in Section 12.3.
“Binder” means that certain binding commitment agreement, dated as of the SAPA Execution Date, by and among Hopmeadow Acquisition, Inc., the Company, HLAIC, the Reinsurer and, solely for purposes of Annex A, Hartford Holdings, Inc.
“Book Value” means, with respect to Trust Account assets, at any date of determination, the amount stated for such assets on the Reinsurer’s statutory financial statements determined in accordance with then applicable statutory accounting principles consistently applied.
“Business Covered” means the in-force block of Reinsured Contracts reinsured under this Agreement.
“Business Day” means any day other than a Saturday, Sunday or other day on which banks in the State of New York, Commonwealth of Massachusetts or the State of Connecticut are permitted or required to be closed.
“Capital Stock” means any capital stock of, or other type of equity ownership interest in, as applicable, a Person.
“Ceding Commission” means $216,000,000.
“Closing” shall have the meaning set forth in the Binder.

“Closing Date” means the date of the Closing. 
“Commissions” shall have the meaning specified in Section 5.3.
“Company” shall have the meaning specified in the first paragraph of this Agreement.
“Company Indemnified Parties” shall have the meaning specified in Section 16.2(b).
“Company Material Adverse Effect” means (a) a material adverse effect on the business, assets, liabilities, results of operations or financial condition of the Company taken as a whole, but in each case to the extent relating to the Covered Liabilities, taken as a whole; provided that none of the following (or the results thereof) shall constitute or be deemed to contribute to a Company Material Adverse Effect, and otherwise shall not be taken into account in determining whether a Company Material Adverse Effect has occurred or would be reasonably likely to occur: any adverse fact, circumstance, change or effect arising out of, resulting from or attributable to (i) changes in the United States or global economy or capital or financial markets, including changes in interest or exchange rates or a downturn in equity markets, (ii) changes in political conditions generally of the United States, and any natural disasters, pandemics, hostilities, acts of war, sabotage, terrorism or military actions, (iii) conditions generally affecting participants in the industries in which the Company or its Affiliates operates, (iv) the announcement of this Agreement and the transactions contemplated hereby and the identity of the Reinsurer or the Retrocessionaire (including effects related to compliance with the covenants contained in this Agreement and the documents executed in connection herewith (the “Transaction Documents”), or the Retrocession Agreement and the documents executed in connection therewith (the “Retrocession Transaction Documents”), or the failure to take any action as a result of any restrictions or prohibitions set forth in this Agreement, the Transaction Documents, the Retrocession Agreement or the Retrocession Transaction Documents), (v) any changes or prospective changes in Applicable Law, GAAP, SAP or the enforcement or interpretation thereof, (vi) any action taken by the Reinsurer or its Affiliates or the Retrocessionaire or its Affiliates with respect to the transactions contemplated hereby, (vii) any change in the credit, financial strength or other ratings (other than the facts underlying any such change) of the Company), (viii) the Fair Market Value of any bonds, notes, debentures, mortgage loans, collateral loans and all other instruments of indebtedness, stocks, partnership or joint venture interests and all other equity interests, certificates issued by or interests in trusts and derivatives of the Company or its Affiliates, (ix) any failure by the Company or its Affiliates to achieve any earnings, premiums written, or other financial projections or forecasts (other than facts underlying such failure) or (x) any effect that is cured by the Company prior to the Closing Date; provided, that, notwithstanding the foregoing, with respect to clauses (i), (ii), (iii), (v) and (viii), such fact, circumstance, change or effect shall be taken into account in determining whether a Company Material Adverse Effect has occurred or would be reasonably likely to occur solely to the extent such fact, circumstance, change or effect is disproportionately adverse with respect to (A) the Company or Hartford Life and Annuity Insurance Company and (B) the business being reinsured hereunder as compared to life insurance companies operating in the United States that issued insurance policies and annuity contracts with similar features and risks as the Reinsured Contracts and which were issued during the same period in which such Reinsured Contracts were issued or (b) a material impairment or delay of the ability of the Company to perform its material obligations 

under this Agreement and the Transaction Documents, taken as a whole, including consummation of the transactions contemplated hereby or thereby. 
“Company SEC Reports” means all required annual reports on Form 10-K, quarterly reports on Form 10-Q and reports on Form 8-K required to be filed or furnished by the Company with or to the SEC since January 1, 2014.
“Contest” shall have the meaning specified in Section 3.3.
“Contract Considerations” means (i) all Separate Account Fee Income with respect to the Separate Account Contracts, (ii) all Separate Account Net Contractholder Transfers with respect to the Separate Account Contracts, excluding any fees and expenses under the Separate Account Contracts, including, but not limited to, mortality and expense charges and other fees due and payable thereunder, and (iii) other collections and recoveries received by the Company with respect to the Reinsured Contracts (excluding the Separate Account Contracts).
“Covered Liabilities” means (i) the Company’s liabilities under the express terms of the Reinsured Contracts, before and after giving effect to any modifications to the Reinsured Contracts that are required under Applicable Law, including interest accrued on liabilities under the terms of the Reinsured Contracts or Applicable Law, including but not limited to, withdrawals, death benefits, payout annuitization options, annuitization amounts, surrenders and other amounts payable by the Company pursuant to the terms of the Reinsured Contracts, (ii) all escheat or abandoned property liabilities relating to the Reinsured Contracts arising or incurred in the ordinary course of the Company’s business and without any violation of Applicable Law (excluding any fines, interest, penalties or other payments arising as a result of a failure to timely pay escheat or abandoned property liabilities or any other violation of Applicable Law), and (iii) Permitted Ex Gratia Payments; but excluding all Extra Contractual Liabilities other than (1) as otherwise expressly provided in this Agreement and (2) Extra-Contractual Liabilities for which the Reinsurer received prior notice of and the Reinsurer has expressly concurred, in writing, with the actions taken or not taken, or to be taken or not taken, by the Company that led to the assessment of such Extra-Contractual Liabilities.
“Covered Liability Seller Indemnification Claim” shall have the meaning specified in Section 16.2(d)(ii).
“CRC Policies” means the fixed deferred annuity contracts issued or assumed by the Company.
“Disclosure Schedule” shall have the meaning specified in Section 15.1.
“Distributor” shall have the meaning specified in Section 15.1(p)(i).
“Effective Date” means December 31, 2016.
“Effective Time” means 11:59 p.m. on the Effective Date.

“Eligible Trust Account Assets” means assets qualifying as admitted assets for life insurance companies under the insurance laws of (i) the State of Connecticut or (ii) the Commonwealth of Massachusetts (whichever of the two jurisdiction’s laws would be more restrictive if imposed on the Reinsurer), but in each case complying with the investment guidelines attached hereto as Exhibit 3.
“ERISA Separate Accounts” shall have the meaning set forth in Section 15.1(o)(i).
“Estimated Initial Reinsurance Premium” shall have the meaning specified in Section 4.1(b).
“Estimated Initial Reinsurance Premium Part A” shall have the meaning set forth in Section 4.1(b).
“Estimated Initial Reinsurance Premium Part B” shall have the meaning set forth in Section 4.1(b).
“Estimated Initial Reinsurance Premium Statement” shall have the meaning specified in Section 4.1(b).
“Exchange Act” means the Securities Exchange Act of 1934.
“Ex-Gratia Payment” mean any voluntary payment made by the Company in response to a loss for which it is not contractually liable under the terms of a Reinsured Contract.
“Expense Allowance” shall have the meaning specified in Section 5.2.
“Expenses” means expenses incurred in connection with defending or asserting any claim or Action indemnified against hereunder (including court filing fees, court costs, arbitration fees or costs, witness fees and reasonable and documented fees and disbursements of legal counsel, expert witnesses, accountants and other professionals).
“Extra Contractual Liabilities” means all liabilities for (i) any fines, penalties, settlements, Taxes, fees, forfeitures, costs or expenses or any compensatory, punitive, exemplary, special, treble, bad faith, tort, statutory or any other form of extra-contractual damages, or portion thereof, as well as all legal fees and expenses attributable thereto, relating to, but not arising under, the express terms and conditions of, or in excess of the applicable payment provisions or coverage limits of, the Reinsured Contracts, whether to contractholders, insureds, producers, agents, brokers, Distributors, Governmental Authorities or any other Person, which arise from any actual or alleged act, error or omission committed by or on behalf of the Company, whether or not intentional, negligent, malicious, fraudulent, unlawful, in bad faith or otherwise, including, any act, error or omission of such Person, relating to (a) the form, marketing, sale, underwriting, production, issuance, cancellation, offering of elections or options under, or administration of, the Reinsured Contracts, (b) the investigation, defense, trial, settlement or handling of claims, benefits or payments in respect of any Reinsured Contracts, (c) the failure to pay, the delay in payment or errors in calculating or administering the payment of benefits, claims or any other amounts due or alleged to be due under 

or in connection with any Reinsured Contracts or (d) the failure of any of the Reinsured Contracts to qualify for their intended tax status; and (ii) Ex Gratia Payments made by or on behalf of the Company, other than Permitted Ex Gratia Payments; provided, however, that “Extra Contractual Liabilities” shall not include any liabilities, costs, expenses or fees (including legal fees and expenses) resulting from any litigation or dispute arising out of or relating to any changes in Non-Guaranteed Elements made by the Company to any Reinsured Contract on or after the Effective Date.
“Fair Market Value” means, with respect to any asset, the market value thereof as determined by the Reinsurer in accordance with its standard pricing procedures consistently applied, except with respect to the reference to Fair Market Value in Section 4.1, which determination of Fair Market Value shall be as determined by the Company in accordance with its standard pricing procedures consistently applied. 
“Final Initial Reinsurance Premium” shall have the meaning specified in Section 4.1(d).
“Final Initial Reinsurance Premium Statement” shall have the meaning specified in Section 4.1(d). 
“Financial Statements” means the Statutory Statements together with the GAAP Financial Statements.
“FINRA” means the Financial Institution Regulatory Authority, Inc. and any successor thereto.
“Future Annual GAAP Financial Statements” shall have the meaning set forth in the Stock and Asset Purchase Agreement.
“Future Annual Statutory Statements” shall have the meaning set forth in the Stock and Asset Purchase Agreement.
“Future Quarterly GAAP Financial Statements” shall have the meaning set forth in the Stock and Asset Purchase Agreement.
“Future Quarterly Statutory Statements” shall have the meaning set forth in the Stock and Asset Purchase Agreement.
“GAAP” means generally accepted accounting principles in the United States of America, as in effect from time to time. 
“GAAP Financial Statements” means all of the GAAP financial statements of the Company and its Subsidiaries included in the Company SEC Reports publicly available on the internet website of the SEC at least ten (10) Business Days prior to the Closing Date, including the notes thereto.

“Governmental Authority” means any foreign or national government, any state or other political subdivision thereof or any self-regulatory authority, and any entity exercising executive, legislative, judicial, regulatory or administrative functions of or pertaining to government.
“Governmental Order” means any binding and enforceable order, writ, judgment, injunction, decree, directive, stipulation, determination or award entered by or with any Governmental Authority.
“HLAIC” means Hartford Life and Annuity Insurance Company, a life insurance company organized under the laws of Connecticut.
“HLAIC Reinsurance Agreement” means that certain Annuity Reinsurance Agreement, dated as of the date hereof, by and between HLAIC, as cedent, and the Reinsurer, as reinsurer.
“HLAIC Retrocession Agreement” means that certain Funds Withheld Annuity Retrocession Agreement that may be entered into by and between the Reinsurer, as retrocedent, and the Retrocessionaire, as retrocessionaire, on or after the Closing Date, with respect to the retrocession of certain liability reinsured to the Reinsurer under the HLAIC Reinsurance Agreement.
“HLAIC Retrocession Trust Account” means the trust account that may be established by Retrocessionaire for the benefit of the Company and the Reinsurer pursuant to the HLAIC Retrocession Agreement.
“HLAIC Trust Account” means the trust account established by the Reinsurer, as grantor, for the benefit of HLAIC, and governed by the HLAIC Trust Agreement.
“HLAIC Trust Agreement” means the Trust Agreement, dated as of the date hereof, by and among the Reinsurer, HLAIC and the Trustee.
“Indemnified Party” shall have the meaning set forth in Section 16.3(a).
“Indemnifying Party” shall have the meaning set forth in Section 16.3(a).
“Initial Net Settlement Amount” shall have the meaning specified in Section 4.3(a).
“Initial Reinsurance Premium Adjustment Period” shall have the meaning specified in Section 4.1(e)(i).
“Initial Reinsurance Premium Deficiency” shall have the meaning specified in Section 4.1(e).
“Interest Maintenance Reserve” means the amounts with respect to the Reinsured Contracts set forth on Schedule I, calculated as of the Effective Time. The calculation of the Interest Maintenance Reserve for purposes of Section 4.1(b)(iv) (the calculation of the Interest Maintenance Reserve created during the Interim Period and transferred as a direct result of the transactions contemplated by this Agreement for purposes of calculating the Estimated Initial Reinsurance 

Premium Part B) shall be equal to any net pre-tax realized capital gains (or losses) multiplied by 65%.  For purposes of calculating the Required Balance and the Recapture Payment, “Interest Maintenance Reserve” means, as of the applicable date of determination, the reserve determined in accordance with SAP.
“Interim Period” means the period from and after the Effective Date through and including the day prior to the Closing Date.
“Interim Period Interest” means interest as calculated on Schedule 1.1(a).
“Investment Company Act” means the Investment Company Act of 1940, as amended.
“Knowledge of Company” means the actual knowledge, after reasonable inquiry, of those Persons listed in Schedule 1.1(b).
“Liabilities” means any and all debts, liabilities, expenses, commitments or obligations, whether direct or indirect, accrued or fixed, known or unknown, absolute or contingent, matured or unmatured, determined or determinable, disputed or undisputed, joint or several, secured or unsecured, liquidated or unliquidated, whenever (including in the past, present or future) and however arising (including out of any contract or tort based on negligence or strict liability) and whether or not the same would be required by GAAP or SAP to be reflected in any financial statements or disclosed in the notes thereto.
“LIBOR Determination Date” means the date as of which Three-Month LIBOR is to be determined, or if such date is not a London Banking Day, the next immediately succeeding London Banking Day.
“London Banking Day” means any business day on which dealings in deposits in U.S. dollars are transacted in the London interbank market.
“Losses” means any and all losses, costs, charges, settlement payments, awards, judgments, fines, penalties, damages, expenses (including reasonable attorneys’, actuaries’, accountants’ and other professionals’ fees, disbursements and expenses), liabilities, and claims or deficiencies of any kind, in each case to the extent related to the Business Covered, without giving effect to any retrocession, if any, by the Reinsurer, and unrelated to any liabilities excluded or otherwise not covered hereunder; provided, that Losses shall not include indirect, punitive, exemplary, treble, special or consequential damages (including lost profits) except to the extent that (a) any such damages are payable to a third party not affiliated with the relevant Indemnified Party or (b) solely with respect to consequential damages (including lost profits), such damages are (i) not based on any special circumstances of the Indemnified Party and (ii) the natural, probable and reasonably foreseeable result of the event that gave rise thereto or the matter for which indemnification is sought hereunder, regardless of the form of action through which such damages are sought; provided, further, that direct and third party damages measured by the diminution in the value of the Business Covered shall constitute a “Loss” to the extent such damages are (A) not based on any special circumstances of the Indemnified Party (other than special circumstances of 

the Reinsurer, it being understood that, for purposes of determining the amount of the Reinsurer’s Losses in connection with a breach of a representation or warranty by the Company, this parenthetical shall be deemed to refer to special circumstances of the Reinsurer that are in existence as of or prior to the SAPA Closing Date) and (B) the natural, probable and reasonably foreseeable result of the event that gave rise thereto or the matter for which indemnification is sought hereunder, regardless of the form of action through which such damages are sought.
“Material Distributor” means each Distributor that wrote variable or fixed annuity contracts included in the Reinsured Contracts that as of December 31, 2016 had an aggregate Account Value in excess of $1,000,000,000.
“Minimum Monthly Cash Call Amount” means an amount equal to the greater of (a) 0.3% of the statutory account value attributable to the CRC Policies, which such amount shall be equal to $15,000,000 on the Closing Date and shall be recalculated each year as of the anniversary of such date, rounded to the nearest million and (b) $5,000,000.
“Monthly Accounting Period” means each calendar month, provided that the initial Monthly Accounting Period shall commence on the Closing Date and end on the last day of the calendar month in which the Closing Date falls and the final Monthly Accounting Period shall commence on the first day of the calendar month in which the Termination Date falls and end on the Termination Date.
“Monthly Reinsurance Settlement Report” shall have the meaning specified in Section 6.1(a).
“Monthly Settlement” shall have the meaning specified in Section 6.3.
“Monthly Settlement Date” shall have the meaning specified in Section 6.3.
“NAIC Reserves” means, as of any given date, an amount equal to the gross statutory reserves that are required to be held by the specified party for purposes of its statutory financial statements with respect to the Reinsured Contracts, determined in accordance with then applicable SAP consistently applied, and calculated on a gross basis and without giving effect to the Reinsurer’s Quota Share.  When determining gross statutory reserves required to be held by the Company for purposes of its own statutory financial statements, the Company’s calculations shall be determinative of such amounts.
“Non-Guaranteed Elements” means any element within a Reinsured Contract which (a) affects its Account Value, cash surrender value, annuity benefit rate or any other contractholder costs or value and (b) may be changed at the discretion of the Company. Examples of non-guaranteed benefits or charges include: the Company’s discretion to (i) establish a crediting rate in excess of the minimum rate guaranteed in a particular Reinsured Contract, (ii) offer a settlement option rate that produces an immediate annuity benefit that is greater than the immediate annuity benefit produced by the settlement option rate guaranteed by a particular Reinsured Contract, (iii) in connection with the annuitization of a Reinsured Contract, offer an annuity benefit rate that produces annuity benefits that exceed the minimum guaranteed annuity benefits offered by such Reinsured 

Contract, (iv) limit the acceptance of future payments of premium to the extent such limitation is permitted by the terms of a particular Reinsured Contract, (v) assess policy and rider charges under a particular Reinsured Contract in an amount lower than guaranteed maximum amounts, and (vi) determine renewal rates applicable to market value adjustments.
“Permits” shall have the meaning specified in Section 15.1(k)(i). 
“Permitted Ex Gratia Payments” means Ex Gratia Payments by or on behalf of the Company following the Effective Date in accordance with the Company’s historical practices (a) up to a maximum aggregate amount of $5,000,000 since the Effective Date and (b) a maximum aggregate amount of $250,000 per annum.
“Permitted or Prescribed Accounting Practice” shall have the meaning specified in Section 15.1(e)(iv).
“Person” means any natural person, firm, limited liability company, general partnership, limited partnership, joint venture, association, corporation, trust, Governmental Authority or other entity.
“Policy Forms” shall have the meaning specified in Section 15.1(l)(ii).
“Premium Increase” shall have the meaning specified in Section 16.6(b).
“RBC Ratio” means the ratio of (i) Total Adjusted Capital (as defined in the NAIC Risk Based Capital (RBC) Model Act or in the rules and procedures prescribed by the NAIC with respect thereto, in each case as in effect on the date of determination) to (ii) Company Action Level RBC (as defined in the NAIC Risk Based Capital (RBC) Model Act or in the rules and procedures prescribed by the NAIC with respect thereto, in each case as in effect on the date of determination).
“Recapture Effective Time” shall have the meaning specified in Section 8.2(b)(ii).
“Recapture Event” shall have the meaning specified in Section 8.1.
“Recapture Payment” means the amount calculated in accordance with Schedule C.
“Registered Separate Account” shall have the meaning specified in Section 15.1(o)(iii).
“Reinsurance Credit Event” means an event that causes the Company to be unable, for any reason attributable to the Reinsurer or to a change in Applicable Law, to take full statutory financial statement credit for the reinsurance provided by this Agreement.
“Reinsured Business Fundamental Representations” means the representations and warranties set forth in Sections 5.03, 5.04, 5.05, 5.06, 5.07, 5.08, 5.15, 5.16, 5.18 and 5.25 of the Stock and Asset Purchase Agreement.

“Reinsured Business Pre-Closing Covenants” means the covenants in Sections 7.01(a)(ix) and 7.01(b)(ii), (iii), (iv), (v), (vi), (xiii), (xiv), (xvii), (xvii), (xviii), (xix), (xx) and (xxi) of the Stock and Asset Purchase Agreement, to the extent such covenants affect in any material respect the Reinsured Contracts or Covered Liabilities.
 “Reinsured Contracts” means the CRC Policies, payout annuity contracts, period certain structured settlement contracts, SLSS Policies and variable payout separate account contracts of the Company, in force as of the Effective Time and delivered in the United States and U.S. territories to residents thereof, which are the contracts, riders and endorsements attached thereto set out in Schedule A under the heading “Reinsured Contracts” and as listed, together with the NAIC Reserves held (before giving effect to the cession contemplated hereby) by the Company in respect thereof, on an electronic bordereau delivered by the Company to the Reinsurer on the Closing Date.  Reinsured Contracts shall also include any annuitizations of the CRC Policies or variable deferred separate account annuity contracts occurring during the Interim Period.  For the avoidance of doubt, Reinsured Contracts shall not include any annuitizations of variable deferred separate account annuity contracts, including riders, that occur after the Closing Date.
“Reinsurer” shall have the meaning specified in the first paragraph of this Agreement.
“Reinsurer Indemnified Parties” shall have the meaning specified in Section 16.2(a).
“Reinsured Risks” shall have the meaning specified in Section 2.1(a).
“Reinsurer’s Quota Share” means (a) in the case of the SLSS Policies, 75%, and (b) in the case of all other Reinsured Contracts, 85%.
“Related Seller Indemnification Claim” shall have the meaning specified in Section 16.2(d)(iii).
“Representatives” means a Person’s Affiliates, employees, directors, officers, agents, attorneys, financial advisors, actuaries and accountants.
“Required Balance” means, as of any given date prior to a Reinsurance Credit Event, an amount equal to (a) times (b) where:
(a)    = [REDACTED] 
(b)    (i) the Reinsurer’s Quota Share of the general account NAIC Reserves held by the Reinsurer on the Business Covered plus (ii) Interest Maintenance Reserve attributable to the Reinsured Risks, as of such date of determination and determined in accordance with SAP (on an after-tax basis) minus (iii) the Unamortized Ceding Commission as of such date.  
Following a Reinsurance Credit Event, the required balance of the statutory trust, if any, put in place to secure reinsurance credit in accordance with Section 17.1, as of any given date, shall be the greater of the amount determined under the foregoing calculation and the amount required for the Company to take full statutory financial statement credit in its domiciliary state (provided that such 

domiciliary state is a jurisdiction with substantially similar requirements as the Company’s domiciliary state as of the Closing Date) for the reinsurance provided by this Agreement.
“Reserves” means the reserves and deposit fund liabilities (including reserves established under Applicable Law or otherwise for payment of benefits, losses, claims, expenses and similar purposes (including claims litigation)) maintained by the Company with respect to the Covered Liabilities.
“Retrocessionaire” means the retrocessionaire designated by the Reinsurer on or after the Closing Date.
“Retrocessionaire’s Quota Share” means the quota share set forth in the Retrocession Agreement.
“Retrocession Agreement” means that certain Annuity Retrocession Agreement that may be entered into by and between the Reinsurer, as retrocedent, and the Retrocessionaire, as retrocessionaire, on or after the Closing Date, with respect to the retrocession of certain liabilities reinsured to the Reinsurer under the Agreement.
“Retrocession Trust Account” means the trust account that may be established by Retrocessionaire for the benefit of the Company and the Reinsurer pursuant to the Retrocession Agreement.
“Retrocession Trust Account Balance” means, as of a given date, the value (as determined in accordance with the Retrocession Trust Agreement), including accrued interest, consistently determined in accordance with NAIC statutory accounting principles, of all assets held in the Retrocession Trust Account as of such date and complying with the investment guidelines for the Retrocession Trust Account as set forth in the Retrocession Agreement.
“Retrocession Trust Agreement” shall have the meaning specified in Section 9.1.
“Revised Estimated Initial Reinsurance Premium” shall have the meaning specified in Section 4.1(c).
“Revised Estimated Initial Reinsurance Premium Statement” shall have the meaning specified in Section 4.1(c).
“SAP” means the statutory accounting principles and practices applicable to life insurance companies domiciled in the Commonwealth of Massachusetts; except that for purposes of Section 4.1(b), “SAP” means the statutory accounting principles and practices applicable to life insurance companies domiciled in the State of Connecticut.
“SAPA Execution Date” means December 3, 2017.
“SAPA Closing Date” means the date the closing under the Stock and Asset Purchase Agreement takes place.

“SEC” means the United States Securities and Exchange Commission.
“Securities Act” means the Securities Act of 1933, as amended.
“Seller Indemnification Claim” shall have the meaning specified in Section 16.2(d)(i).
“Separate Account Annual Statement” shall have the meaning specified in Section 15.1(e)(vii).
“Separate Account Assets” means the assets held by the Company in the Separate Accounts in support of, and at least equal to, the Separate Account Liabilities.
“Separate Account Contracts” means those variable payout separate account annuity contracts included within the definition of Reinsured Contracts.  For the avoidance of doubt, Separate Account Contracts do not include any CRC Policies.
“Separate Account Fee Income” means, for each calendar month, an amount equal to 1.25% times the Account Value of Separate Account Contracts as of the first day of such calendar month divided by 12.
“Separate Account Liabilities” means those liabilities that are reflected in the Separate Accounts and that relate to the Separate Account Contracts, including amounts transferred from the Separate Accounts to the general account of the Company pending distribution to beneficiaries of the Separate Account Contracts.
“Separate Account Net Contractholder Transfers” means (i) the aggregate value of amounts transferred from the Separate Accounts to the general account of the Company, minus (ii) the aggregate value of amounts transferred from the general account of the Company to the Separate Account.  Separate Account Net Contractholder Transfers shall include any transfers of amounts required to fund Reserves in respect of the Separate Account Contracts determined in accordance with SAP.
“Separate Accounts” means the separate accounts of the Company to the extent relating to the Separate Account Contracts. 
“Services” shall have the meaning specified in Section 3.9(a). 
“SLSS Policies” means the standard lives structured settlement contracts issued by the Company.
“Special Project” shall have the meaning specified in Section 3.9(c)(ii).
“Stock and Asset Purchase Agreement” means that certain Stock and Asset Purchase Agreement, entered into on the SAPA Execution Date by and among Hartford Holdings, Inc., Hopmeadow Acquisition, Inc., Hopmeadow Holdings, LP, Hopmeadow Holdings GP LLC, and, solely for the purposes set forth therein, The Hartford Financial Services Group, Inc.

“Statutory Statements” means the following statutory statements, in each case together with the exhibits, schedules and notes thereto: (i) the annual statement of the Company as of and for the annual periods ended December 31, 2014, 2015 and 2016, in each case as filed with the insurance Governmental Authority of the jurisdiction of domicile of the Company, (ii) the audited annual financial statements of the Company as of and for the annual periods ended December 31, 2014, 2015 and 2016, together with the report of the Company’s independent auditors thereon and all exhibits, schedules and notes thereto, and (iii) the quarterly statements of the Company, as of and for the quarterly periods ended March 31, 2017, June 30, 2017 and September 30, 2017, in each case as filed with the insurance Governmental Authority of the jurisdiction of domicile of the Company.  
“Subsidiary” of any Person means any corporation, general or limited partnership, joint venture, limited liability company, limited liability partnership or other Person that is a legal entity, trust or estate of which (or in which) at the time of determination (a) the issued and outstanding Capital Stock having ordinary voting power to elect a majority of the board of directors (or a majority of another body performing similar functions) of such corporation or other Person (irrespective of whether at the time Capital Stock of any other class or classes of such corporation or other Person shall or might have voting power upon the occurrence of any contingency), (b) more than fifty percent (50%) of the interest in the capital or profits of such partnership, joint venture or limited liability company or (c) more than fifty percent (50%) of the beneficial interest in such trust or estate, is directly or indirectly owned by such Person.
“Tax” or “Taxes” means all income, premium, excise, gross receipts, ad valorem, sales, use, employment, franchise, profits, gains, property, transfer, payroll, stamp taxes or other taxes, (whether payable directly or by withholding) imposed by any Tax Authority, together with any interest and any penalties thereon or additional amounts with respect thereto; provided, that any guarantee fund assessment or escheatment obligation shall not be treated as a Tax; and provided further that Taxes include any liability for Taxes under Treasury Regulation Section 1.1502-6 and similar provisions of state, local or non-U.S. law and as a transferee or successor. 
“Tax Authority” means any Governmental Authority having jurisdiction over the assessment, determination, collection or imposition of any Tax.
“Terminal Accounting Settlement Report” means a report in the form of Schedule D.
“Termination Date” means the effective date of any termination of this Agreement as provided in Section 10.2.
“Third Party Actuary” means a nationally recognized accounting or actuarial firm mutually agreed upon by the parties hereto.
“Third Party Claim” shall have the meaning specified in Section 16.3(a)
“Three-Month LIBOR” means, for each interest period, (i) the London interbank offered rate for deposits in U.S. dollars, having a maturity of three months which appears on 

Bloomberg:  verb “BBAM”, 1) “Official ICE LIBOR Fixings” (or any successor or replacement page) as of 11:00 a.m. London time, on the related LIBOR Determination Date.  If this rate does not appear on Bloomberg:  verb “BBAM”, 1) “Official ICE LIBOR Fixings” (or any successor or replacement page) on that date, the rate for such interest period will be determined on the basis of the rates at which deposits in U.S. Dollars, having a maturity of three months and in a principal amount of not less than U.S. $1,000,000, are offered at approximately 11:00 a.m., London time, on the LIBOR Determination Date with respect to that interest period, to prime banks in the London interbank market or (ii) or an alternative rate as may be mutually agreed to by the parties from time to time, taking into account then current market practices.
“Transferred Assets” shall have the meaning specified in Section 4.3.
“Trust Account” means the trust account established by the Reinsurer, as grantor, for the benefit of the Company, and governed by the Trust Agreement.
“Trust Account Balance” means, as of a given date, the aggregate Book Value, including accrued interest for so long as such interest is credited by the Trustee, of all assets in the Trust Account on such date, determined in the manner set forth in Section 9.2.
“Trust Agreement” shall have the meaning specified in Section 9.1.
“Trustee” means, respectively, the trustee of the Trust Account, the HLAIC Trust Account, and Retrocession Trust Account and the HLAIC Retrocession Trust Account.
“Unamortized Ceding Commission” means, as of a given date, the portion of the Ceding Commission that is unamortized as of such date, as determined pursuant to Schedule B.
“Valuation Expert” means Interactive Data Corporation (or any successor organization) unless Interactive Data Corporation (or any successor organization) has a prior relationship with a party hereto that could constitute a conflict of interest or is unable to provide valuation, or, if Interactive Data Corporation (or any successor organization) has such a prior relationship or for assets as to which Interactive Data Corporation (or any successor organization) is unable to provide valuation, the next of the following firms (or any successor organization) that is able to provide valuation and does not have a prior relationship with a party hereto that could constitute a conflict of interest: BlackRock, Bank of America and J.P. Morgan; provided, if none of the preceding firms is able to provide a valuation or has such a prior relationship, the Valuation Expert shall mean a nationally recognized independent valuation firm mutually agreed upon by the parties hereto without a conflict of interest; provided, that if the parties are unable to mutually agree on a valuation firm within ten (10) Business Days from the date on which the applicable dispute notice requesting a Valuation Expert is first received, the parties hereto shall jointly request the Third Party Actuary to appoint a nationally recognized valuation firm without a conflict of interest and independent of the Company and the Reinsurer and their respective Affiliates to serve as the Valuation Expert.

ARTICLE II     
 
COVERAGE
2.1.    Coverage.  
(a)    From and after the Effective Time, the Company agrees to cede to the Reinsurer, and the Reinsurer agrees to accept, on a quota share basis, the Reinsurer’s Quota Share of the Covered Liabilities incurred by the Company, but excluding all Covered Liabilities that were paid by the Company (which payment shall not require receipt thereof) prior to the Effective Time (the “Reinsured Risks”).
(b)    The liability of the Reinsurer under this Agreement (i) with respect to all Reinsured Contracts other than the Separate Account Contracts, shall be on a coinsurance basis and (ii) with respect to the Separate Account Contracts, (x) shall be on a coinsurance basis with respect to the general account insurance liabilities and obligations arising under the Separate Account Contracts and (y) on a modified coinsurance basis with respect to the Separate Account Assets and Separate Account Liabilities.  
2.2.    Conditions.  
(a)    If the Company’s liability under any of the Reinsured Contracts is changed because of changes made after the Effective Date in the terms and conditions of the Reinsured Contracts (including to any contract riders or endorsements thereto) that are required due to changes in Applicable Law as determined in accordance with Section 2.2(b), the Reinsurer will share in the change proportionately to the Reinsurer’s Quota Share hereunder and the Company and the Reinsurer will make all appropriate adjustments to amounts due each other under this Agreement.
(b)    If the Company believes a modification to the Reinsured Contracts is required under Applicable Law, the Company will provide to the Reinsurer (x) a memorandum prepared by the Company’s internal counsel summarizing the view that such modification is required under Applicable Law or (y) if the Reinsurer disagrees with the Company’s view, a legal memorandum prepared by outside counsel selected by the Company and reasonably acceptable to the Reinsurer supporting such view.  The positions set forth in such memorandum of outside counsel shall be final and binding on the parties.  In the event the Reinsurer disagrees with the Company’s view, the parties shall share the expense of such outside counsel on a pro rata basis, in accordance with their respective quota shares of the liabilities reinsured hereunder.  For purposes hereof, “final and binding” shall mean that the aforesaid memorandum shall have the same preclusive effect for all purposes as a determination embodied in a final judgment, no longer subject to appeal and entered by a court of competent jurisdiction after full and fair litigation on the merits.
(c)    The Company shall notify the Reinsurer in writing prior to making any changes, amendments or modifications after the Effective Date in the terms and conditions of any of the Reinsured Contracts (including to any contract riders or endorsements thereto).  Except as otherwise set forth or contemplated herein, including in paragraph (a) above, no such changes, 

amendments or modifications which, individually or in the aggregate, would materially adversely affect or would reasonably be expected to materially adversely affect the liability of the Reinsurer hereunder, shall be covered hereunder unless made by the Company with the prior written approval of the Reinsurer or, unless required by Applicable Law as determined in accordance with Section 2.2(b).  In the event that any such changes, amendments or modifications are made in any Reinsured Contract by the Company without the prior written approval of the Reinsurer, this Agreement will cover Reinsured Risks incurred by the Company under such Reinsured Contract as if the non-approved changes, amendments or modifications had not been made, unless the changes, amendments or modifications were required by Applicable Law.
(d)    Subject to the express terms of this Agreement, the Reinsurer shall follow the fortunes of the Company, such that (i) the Reinsurer shall accept the decision of the Company with respect to payment obligations with respect to any Reinsured Contract, and (ii) the Reinsurer’s liability for the Reinsured Contracts shall be the same as that of the Company, including the same terms, risks, and conditions, as may be modified by Applicable Law as determined in accordance with Section 2.2(b).  Claims notifications, claim papers and proofs will be furnished to the Reinsurer as soon as reasonably practicable following any written request for such items made by the Reinsurer.  
2.3.    Non-Guaranteed Elements. The Company shall set all Non-Guaranteed Elements under the Reinsured Contracts from and after the Closing Date, but shall request the recommendations of the Reinsurer (if not previously received) prior to the setting of any Non-Guaranteed Elements, and shall follow such recommendations unless the Company determines in good faith and on a reasonable basis that such recommendations (i) fail to comport with  Applicable Law, (ii) fail to comport with applicable Actuarial Standards of Practice, or (iii) fail to comport with the terms of a Reinsured Contract.
2.4.    Annuitizations.  The Reinsurer shall continue to reinsure each Reinsured Contract that is a CRC Policy that annuitizes after the Closing Date. For the avoidance of doubt, annuitizations shall not include annuitizations of the variable deferred separate account annuity contracts occurring after the Closing Date.
2.5.    Reinstatement.  Reinsured Contracts ceded under this Agreement shall include any Reinsured Contract that is reduced, terminated, or surrendered, and later reinstated pursuant to and in accordance with its policy provisions and will be reinsured by the Reinsurer in accordance with the terms of this Agreement.  A reduced, terminated, or surrendered annuity contract that would have been a Reinsured Contract had it been in force at the Effective Time, that later reinstates pursuant to and in accordance with its policy provisions, will be reinsured by the Reinsurer and become a Reinsured Contract.  The Reinsurer will be entitled to receive and/or retain the Reinsurer’s Quota Share of any premiums and interest for coverage on or after the Effective Date that is received for any such reinstatement, termination, or surrender and the Company will transfer to the Reinsurer an amount in cash equal to the Reinsurer’s Quota Share of the amount of Reserves (as if such reduction, termination or surrender had never occurred) for such reinstated Reinsured Contract as of the Effective Date.  The date of reinsurance for such reinstated Reinsured Contracts shall be the Effective Date.

ARTICLE III     
 
ADMINISTRATION; GENERAL PROVISIONS
3.1.    Contract Administration.  The Company shall administer the Reinsured Contracts and provide all contractholder and claims servicing with respect to the Reinsured Contracts in all material respects in accordance with the terms of Section 3.9.
3.2.    Policy Exchanges.  Unless the Reinsurer has provided its prior written consent, the Company shall not, and shall not permit its Affiliates to, directly or indirectly, undertake, solicit, sponsor or support any exchange program in respect of the Reinsured Contracts or otherwise target in a directed, programmatic or systematic manner the Reinsured Contracts for replacement.
3.3.    Claims Settlements.  The Company will advise the Reinsurer of its intention to contest, compromise or litigate (jointly a “Contest”) any claim if such Contest could reasonably be expected to result in the payment by the Company of amounts different than the corresponding Covered Liabilities.  The Reinsurer will pay its share of the expense of the Contest in addition to the Reinsurer’s Quota Share of such corresponding Covered Liabilities, or it may choose not to participate.  If the Company’s Contest of such Covered Liabilities results in the reduction of its liability and the Reinsurer has chosen to participate therein, the Reinsurer will share in such reduction in proportion to the Reinsurer’s Quota Share. If the Reinsurer chooses not to participate, it will discharge its liability by payment to the Company of the full amount of the Reinsurer’s Quota Share of the corresponding Covered Liabilities.  For the avoidance of doubt, corrections in Covered Liabilities due to a misstatement of material fact (such as age or sex) or a legal action initiated by the Company to determine the lawful claim beneficiary shall be subject to this Section 3.3.  
3.4.    Inspection.  The Company shall keep accurate and complete records, files and accounts of all transactions and matters with respect to the Reinsured Contracts and the Company’s administration thereof in accordance with Applicable Law and its record management practices in effect from time to time for the Company’s insurance business not covered by this Agreement.  The Reinsurer and its designated Representatives (which Representatives may include any Retrocessionaire of the Reinsured Contracts) may at their own expense and upon reasonable notice inspect, at the offices of the Company where such records are located (and if such records are located at the offices of a third party, at such offices), and copy the papers and any and all other books or documents of the Company reasonably relating to this Agreement, including the Reinsured Contracts and the administration thereof by the Company and shall have access to appropriate employees and Representatives of the Company, in each case during normal business hours without unreasonable disruption of the business of the Company for such period as any provision of this Agreement is in effect or the Reinsurer reasonably needs access to such records for regulatory, Tax or similar purposes; provided, however, that the Reinsurer and its designated Representatives (which Representatives may include any Retrocessionaire of the Reinsured Contracts) may not conduct such inspections more than once in any given six (6) month period.  If the Reinsurer exercises its inspection rights, the Company must provide a reasonable work space for such audit, examination or copying, reasonably cooperate and produce any and all materials reasonably requested to be 

produced.  The information obtained shall be used only for purposes relating to the transactions contemplated under this Agreement.
3.5.    Errors and Omissions.  If any delay, omission, error (including any omission or error in any Monthly Reinsurance Settlement Report) or failure to pay amounts due or to perform any other act required by this Agreement is unintentional and caused by misunderstanding or oversight, the Company and the Reinsurer will adjust the situation to what it would have been had the misunderstanding or oversight not occurred.  The party first discovering such misunderstanding or oversight, or an act resulting from such misunderstanding or oversight, will notify the other party in writing promptly upon discovery thereof, and the parties shall act to correct such misunderstanding or oversight within thirty (30) Business Days of such other party’s receipt of such notice.  However, this Section shall not be construed as a waiver by either party of a right, if any, to enforce strictly the terms of this Agreement.
3.6.    Age, Sex and Other Adjustments.  If the Company’s liability under any of the Reinsured Contracts is changed because of a misstatement of age or sex or any other material fact, the Reinsurer will share in the change proportionately to the Reinsurer’s Quota Share hereunder and the Company and the Reinsurer will make all appropriate adjustments to amounts due each other under this Agreement.
3.7.    Setoff and Recoupment.  Any debts or credits, matured or unmatured, in favor of or against either the Company or the Reinsurer with respect to this Agreement are deemed mutual debts or credits, as the case may be, and shall be set off and/or recouped from any amounts due to the Company or the Reinsurer hereunder, as the case may be, and only the net balance shall be allowed or paid.
3.8.    Net Retention.  The Company shall retain, net and unreinsured, at its own risk and liability, a 10% quota share of the gross liabilities with respect to each Reinsured Contract.  For the avoidance of doubt, the foregoing net retention requirement shall not apply to any annuities, insurance policies or products, or any business of the Company, to the extent not reinsured hereunder.
3.9.    Administration.
(a)    Administration.  The Company shall administer the Reinsured Contracts and provide all required, necessary and appropriate administrative and other services with respect to the Reinsured Contracts in accordance with the terms hereof, including, but not limited to (i) contractholder and claims servicing, (ii) the payment of all Covered Liabilities and the administration of claims and disbursements, (iii) holding quarterly servicing and administration review calls with the Reinsurer to discuss issues that have arisen with respect to the Business Covered, (iv) establishing a secured data transfer channel for safely exchanging data with respect to the Business Covered, and (v) providing a monthly data snapshot of applicable Reinsured Contracts and associated activities (the “Services”). The Company shall provide the Services: (A) in accordance in all material respects with the terms of the Reinsured Contracts, the applicable terms of this Agreement, and Applicable Law; and (B) subject to the foregoing, in substantially the same manner from a quality perspective and using at least the same standards of skill, diligence, care, effort and expertise applied by the Company in providing the Services in respect of the Reinsured Contracts during the twelve 

(12)-month period prior to the Effective Date. The Company will not materially change, alter or otherwise compromise its administrative practices that could have a material adverse effect on the Reinsurer with respect to the Reinsured Contracts without the prior written consent of the Reinsurer; such consent not to be unreasonably withheld, conditioned or delayed, it being understood that this sentence shall not be construed to alter the Company’s other obligations under this Agreement.
(b)    Sub-Contracting.
(i)    The Company shall only be permitted to delegate or subcontract its responsibility to perform any portion of any material administrative Service (e.g., accepting premiums or adjusting claims) with respect to the Reinsured Contracts to any other Person with the prior written consent of the Reinsurer; such consent not to be unreasonably withheld, conditioned or delayed; provided, that no such subcontracting shall relieve the Company from any of its obligations or liabilities hereunder, and the Company shall remain responsible for all obligations or liabilities of such subcontractor with regards to the providing of such service or services as if provided by the Company.  Notwithstanding the foregoing, the Company shall be permitted to delegate or subcontract any immaterial Services and to delegate or subcontract the Services as currently delegated or subcontracted.
(ii)    The Company shall require any unaffiliated subcontractor which provides a material administrative Service (e.g., accepting premiums or adjusting claims) with respect to the Reinsured Contracts to provide it with a copy of such subcontractor’s SSAE 16 Type I report or, if the subcontractor is able to provide, such subcontractor’s SSAE 16 Type II report, or any successor or other substantially similar report on an annual basis. A copy of any such reports required under this Section 3.9(b)(ii) shall be provided by the Company to the Reinsurer no later than ten (10) Business Days following the Company’s receipt of such report from such subcontractor. Following receipt by the Company of any such report that identifies one or more control deficiencies or significant testing exceptions in effect for such reporting period, the Company shall use its commercially reasonable efforts to require that such subcontractor promptly cure such deficiencies and exceptions. The Company shall provide the Reinsurer with evidence that such deficiency or exception has been cured or a plan of the actions the Company has taken or will take in order to cure such deficiency or exception, and the Company shall keep the Reinsurer apprised of any developments in connection therewith.
(c)    Administration Reports.
(i)    The Company shall prepare the reports set forth in Schedule G and Schedule H. Additionally, the Company shall prepare any other reports reasonably requested by the Reinsurer in connection with the Business Covered, so long as the Company has the general ability to produce such other reports as reasonably determined by the Company with reference to its then current operations (“Additional Reports”).  Except to the extent that the Company prepares such Additional Reports in the ordinary course of business, the Reinsurer shall reimburse the Company for any actual costs the Company incurs in preparing any such Additional Reports. Any Additional Reports required to be prepared by the Company shall be prepared and delivered to the Reinsurer within the time agreed upon by the parties.

(ii)    Any service reasonably requested by the Reinsurer (A) that is in addition to the Services provided by the Company as of the Closing Date or (B) attributable to special or unusual circumstances of the Reinsurer shall be deemed a “Special Project.” The Reinsurer acknowledges that (x) unless and until the Company has consented in writing, which consent shall not be unreasonably withheld, conditioned or delayed, to provide services for any Special Project, the Company will have no obligation to provide such services, and (y) any services for Special Projects provided by the Company will require the Reinsurer requesting such Special Project to pay fees to the Company at a rate as reasonably determined by the Company in accordance with its internal accounting procedures, including fees charged to the Company by its service providers in respect of such Special Projects and employee compensation (including salary, bonus or other incentive compensation), benefits and facilities, plus a reasonable margin.
(iii)    The Company shall provide the Reinsurer with written notice of any significant control deficiency or material weakness, including with respect to cybersecurity or privacy, identified by the Company or its internal and external auditors and resulting Company action plans which are relevant to the Business Covered, promptly and, in each case, within five (5) Business Days of the Company becoming aware of such significant control deficiency or material weakness or such action plans becoming available, and shall provide the Reinsurer with any management reports and the respective internal and external audit reports in respect of such significant control deficiency or material weakness promptly upon and, in each case, within five (5) Business Days of their issuance to the Company. In the event the Company has notified the Reinsurer, or the Reinsurer otherwise becomes aware, of any such deficiency or weakness, the Reinsurer and its Representatives (which Representatives may include any Retrocessionaire of the Reinsured Contracts) shall have the right, at the sole expense of the Reinsurer or such Representative (as appropriate), to conduct on-site audits, including technology, security, data protection, compliance and privacy audits, and request documentation at its reasonable discretion related to an audit or inquiry on the part of the Reinsurer (with which request the Company shall promptly comply) at any time, and the Company shall permit the Reinsurer’s certified public accountants to conduct testing and audit procedures with respect to the Company’s operations in order to support the Reinsurer’s audit of its financial statements, in each case during normal business hours and without unreasonable disruption to the business of the Company. The Reinsurer shall provide the Company with reasonable notice of any such on-site audits or certified public accountant firm testing and audits; provided, that the Reinsurer shall comply with such audit protocols as may be reasonably prescribed by the Company. The information obtained by the Reinsurer pursuant to such audits and testing shall be used only for purposes relating to the transactions contemplated under this Agreement.
(d)    Inability to Perform Services.  In the event that the Company is unable, for any reason, to perform all or a portion of the Services at the standard required by Section 3.9(a) for a period that could reasonably be expected to exceed ten (10) Business Days, the Company shall promptly provide notice to the Reinsurer of its inability to so perform the applicable Services and the Company shall obtain an alternative means of providing such Services reasonably acceptable to the Reinsurer. The Company shall be responsible for all fees, costs and expenses incurred in order to obtain such alternative means of providing the applicable Services.

3.10.    Novation.  If the Reinsurer submits a proposal with respect to a novation of the structured settlement annuity contracts that are part of the Reinsured Contracts following the Closing Date, the parties agree to discuss the proposal in good faith and cooperate in evaluating such proposal.  Should the Company on the one hand, and the Reinsurer or the Retrocessionaire, as applicable, on the other, reach an agreement to novate the contracts, the parties will develop a plan for such novation, which shall include a strategy for communicating with contractholders to obtain their consent, and obtaining all necessary approvals from Governmental Authorities.  Any such plan shall require the Reinsurer and/or the Retrocessionaire, as applicable, to adhere to communication protocols in form and substance satisfactory to the Company in its sole discretion.
3.11.    No Ratings.  In no event shall any provision of this Agreement be construed to require the Company to maintain any insurance financial strength rating or similar rating. 
     ARTICLE IV     
 
INITIAL PAYMENTS
4.1.    Estimated Initial Reinsurance Premium.1 
(a)    On the Effective Date, the Company shall owe to the Reinsurer an amount equal to the Estimated Initial Reinsurance Premium, which amount shall be paid in the manner described in Section 4.3.
(b)    Not later than twenty (20) Business Days prior to the intended Closing Date, the Company shall deliver to the Reinsurer a statement (the “Estimated Initial Reinsurance Premium Statement”) of the Company’s good faith calculation of the Estimated Initial Reinsurance Premium (such calculation, which shall reflect the amount payable to the Reinsurer, the “Estimated Initial Reinsurance Premium”) based on:
(i)     those assets that are listed on Annex A-1 and that have a value, as determined by multiplying each respective asset’s current face value as of the Closing Date by such asset’s market price (excluding accrued interest) as of the Effective Date, equal to the Estimated Initial Reinsurance Premium Part A; and
(ii)    those assets and cash that are listed on Annex B-1 and that have a Fair Market Value (including accrued interest), determined as of the Closing Date, equal to the Estimated Initial Reinsurance Premium Part B.
For purposes of this Agreement, the “Estimated Initial Reinsurance Premium Part A” means an amount equal to $6,940,913,473, being the amount equal to the Reinsurer’s Quota Share of:

1 The Estimated Initial Reinsurance Premium and Annex A-1 have been adjusted to reflect the novation of certain contracts to HLAIC using 2/1/18 reserves.

(i)    the NAIC Reserves held by the Company on the Business Covered (excluding separate account NAIC Reserves in respect of the Separate Account Contracts), determined in accordance with SAP consistently applied, as of the Effective Time, plus
(ii)    the existing Interest Maintenance Reserve attributable to the Business Covered, determined in accordance with SAP consistently applied, as of the Effective Time and as set forth on Schedule I, plus
(iii)    pre-tax unrealized gains (and losses) on the assets listed on Annex A-1 as of the Effective Time.
For purposes of this Agreement, the “Estimated Initial Reinsurance Premium Part B” means an amount equal to -$811,445,929, being the amount equal to the Reinsurer’s Quota Share of: 
(i)    liability cash flows with respect to the Reinsured Contracts during the Interim Period, being a) Contract Considerations minus b) reinsured benefits incurred under Covered Liabilities minus c) Expense Allowances and Commissions, plus
(ii)    Interim Period Interest, plus
(iii)    premium (or annuitized Account Value) for any new Reinsured Contracts added after the Effective Time, plus 
(iv)    the amount with respect to the Reinsured Contracts of any new Interest Maintenance Reserve created during the Interim Period (which amount may be negative to the extent of any capital losses)  divided by 0.65, plus
(v)    additional cash flow testing reserves with respect to the Reinsured Contracts posted during the Interim Period divided by 0.65, minus
(vi)    the accrued interest on assets listed under Annex A-1 as of the Closing Date.
(c)    Within forty-five (45) calendar days after the Closing Date, the Company may prepare and deliver to the Reinsurer a revised Estimated Initial Reinsurance Premium Statement (the “Revised Estimated Initial Reinsurance Premium Statement”) setting forth the Company’s good faith calculation of any adjustments it deems necessary to the Estimated Initial Reinsurance Premium (the Estimated Initial Reinsurance Premium, as adjusted, the “Revised Estimated Initial Reinsurance Premium”), including a statement of each component thereof.
(d)    The Estimated Initial Reinsurance Premium or the Revised Estimated Initial Reinsurance Premium (if applicable) shall be deemed to be the “Final Initial Reinsurance Premium”, unless the Reinsurer provides a written notice to the Company within thirty-five (35) calendar days after receipt of the Estimated Initial Reinsurance Premium Statement or the Revised Estimated Initial Reinsurance Premium Statement (if applicable) stating that the Reinsurer disagrees with one 

or more of the entries or calculations (or any components thereof) set forth in the Estimated Initial Reinsurance Premium Statement or the Revised Estimated Initial Reinsurance Premium Statement (if applicable) and specifying in reasonable detail each item that the Reinsurer disputes, the amount in dispute for each such disputed item and the reasons supporting the Reinsurer’s positions.  If the Reinsurer delivers such written notice within such thirty-five (35) calendar day period, the Company and the Reinsurer shall each negotiate in good faith to resolve the disputed items within ten (10) Business Days beginning on the date the Company receives the written notice.  If the Company and the Reinsurer reach agreement with respect to any disputed items, the Company shall revise the Estimated Initial Reinsurance Premium Statement or the Revised Estimated Initial Reinsurance Premium Statement (if applicable) to reflect such agreement.  If the Company and the Reinsurer are unable to resolve all of the disputed items within such ten (10) Business Day period, the Company and the Reinsurer shall submit the unresolved disputed items to review by the Third Party Actuary, except to the extent the dispute relates to the valuation of the Transferred Assets (including disputes relating to Fair Market Value), the Company and the Reinsurer shall submit the dispute to review by the Valuation Expert.  The Company and the Reinsurer shall instruct the Third Party Actuary or the Valuation Expert (as applicable) to render its decision as to the disputed items within thirty (30) calendar days after the submission of the applicable matter for its review (or as soon thereafter as possible). The Third Party Actuary or the Valuation Expert (as applicable) shall not review any items that are not in dispute or any assumptions underlying any calculations provided to it, and shall adhere to the methodologies employed by the Company for performing any such calculations. The decision(s) of the Third Party Actuary or the Valuation Expert (as applicable) shall be final, binding and conclusive upon the Company and the Reinsurer absent manifest error; provided that the decision of the Third Party Actuary or the Valuation Expert (as applicable) as to any figure shall not be outside the range of such figures proposed by each of the Company and the Reinsurer and the Third Party Actuary or the Valuation Expert (as applicable) shall be subject to the limitations set forth in the preceding sentence.  Following the resolution of all disputed items, the Company shall prepare and deliver to the Reinsurer a revised premium statement (the “Final Initial Reinsurance Premium Statement”) which shall reflect the resolution of all relevant disputed items and which shall set forth the “Final Initial Reinsurance Premium”.  Any expenses relating to the engagement of the Third Party Actuary or the Valuation Expert (as applicable) in respect of its services pursuant to this Section 4.1(d) shall be shared equally by the Company and the Reinsurer.
(e)    If (1) the Final Initial Reinsurance Premium (as determined in accordance with Section 4.1(d)) minus (2) the Estimated Initial Reinsurance Premium (such difference, the “Initial Reinsurance Premium Deficiency”) is greater than or less than zero, there shall be an adjustment payment as follows: 
(i)    if the Initial Reinsurance Premium Deficiency is a positive number, the Company shall pay to the Reinsurer in cash via a wire transfer of immediately available funds to the account designated therefor in writing by the Reinsurer (x) an amount equal to the Initial Reinsurance Premium Deficiency plus (y) interest on the Initial Reinsurance Premium Deficiency for each day during the period beginning on the Closing Date and ending on, but not including, the date of such payment of the post-closing adjustment (the “Initial Reinsurance Premium Adjustment Period”), calculated at a rate equal to the Three-Month LIBOR plus thirty (30) basis points per 

annum as computed on the basis of (i) a 360-day year composed of twelve (12) 30-day months and (ii) daily compounding; and
(ii)    if the Initial Reinsurance Premium Deficiency is a negative number, the Reinsurer shall pay to the Company in cash via a wire transfer of immediately available funds to the account designated therefor in writing by the Company (x) an amount equal to the absolute value of the Initial Reinsurance Premium Deficiency plus (y) interest on the absolute value of the Initial Reinsurance Premium Deficiency for each day during the Initial Reinsurance Premium Adjustment Period calculated at a rate equal to the Three-Month LIBOR plus thirty (30) basis points per annum as computed on the basis of (i) a 360-day year composed of twelve (12) 30-day months and (ii) daily compounding.
Any such adjustment payment shall be made within ten (10) Business Days after the date that the Final Initial Reinsurance Premium is deemed to be determined.
4.2.    Ceding Commission.  On the Effective Date, the Reinsurer shall owe to the Company an amount equal to the Ceding Commission, which amount shall be paid in the manner described in Section 4.3.
4.3.    Netting of Payments; Transfer of Assets.  
(a)    On the Closing Date, the Company shall pay to the Reinsurer an amount equal to the Estimated Initial Reinsurance Premium and, simultaneously, the Reinsurer shall pay to the Company an amount equal to the Ceding Commission.  The foregoing payments shall be netted against each other and, in satisfaction of the net amount due (such net amount, the “Initial Net Settlement Amount”), the Company shall deposit into the Trust Account on the Closing Date, on behalf of the Reinsurer as grantor of the Trust Account, those assets identified in the attached Annex A-1 and Annex B-1 (the “Transferred Assets”) with a mutually agreed upon Fair Market Value (as set forth on Annex A-1 and Annex B-1).
(b)    In addition, on the Closing Date, (x) if the Initial Net Settlement Amount exceeds the value of the Transferred Assets as calculated in Section 4.1(b), then, on the Closing Date, the Company shall deposit into the Trust Account cash in an amount equal to such excess and (y) if the value, of the Transferred Assets as calculated in Section 4.1(b) exceeds the Initial Net Settlement Amount, then, on the Closing Date, the Reinsurer shall pay to the Company an amount equal to such excess in cash.  The Company acknowledges and agrees that the Reinsurer will not be liable for any failure of the Company to deliver the Transferred Assets or any such cash directly into the Trust Account.
4.4.    Top-Up with Trustee.  On the Closing Date, the Reinsurer shall deposit into the Trust Account Eligible Trust Account Assets with a Book Value (and Fair Market Value no less than Book Value) equal, in the aggregate, to (i) the excess of the estimated Required Balance as of the Closing Date over the Initial Net Settlement Amount minus (ii) the Retrocession Trust Account Balance (if applicable and if any) as of the Closing Date.

ARTICLE V     
 
ADDITIONAL REINSURANCE PREMIUMS; EXPENSE ALLOWANCE; COMMISSIONS
5.1.    Additional Contract Considerations.  On each Monthly Settlement Date, the Company shall owe to the Reinsurer the Reinsurer’s Quota Share of the Contract Considerations with respect to the Reinsured Contracts for the Monthly Accounting Period corresponding to such Monthly Settlement Date.  Except as otherwise provided in Section 5.4, settlement of amounts owed under this Section shall be made on a net basis in accordance with Article VI.
5.2.    Expense Allowance.  On each Monthly Settlement Date, the Reinsurer shall owe to the Company with respect to each Monthly Accounting Period ending after the Effective Date, the Reinsurer’s Quota Share of an expense allowance (each an “Expense Allowance”) related to each Reinsured Contract in an amount calculated in accordance with Schedule E.  The Reinsurer will bear no part of the expenses incurred in connection with the Reinsured Contracts, except as otherwise provided herein.  The allowance for any premium Taxes, state guarantee fund assessments, special assessments or excise Taxes paid in connection with the Reinsured Contracts is included in Expense Allowances.  The Reinsurer will not reimburse the Company for any other Taxes or assessments paid by the Company in connection with the Reinsured Contracts.  Except as otherwise provided in Section 5.4, settlement of amounts owed under this Section shall be made on a net basis in accordance with Article VI.
5.3.    Commissions.  On each Monthly Settlement Date, the Reinsurer shall owe to the Company the Reinsurer’s Quota Share of the commission amounts set forth on Schedule J for the Monthly Accounting Period corresponding to such Monthly Settlement Date (“Commissions”).  The Company shall not change the Commissions without the prior consent of the Reinsurer.  Except as otherwise provided in Section 5.4, settlement of amounts owed under this Section shall be made on a net basis in accordance with Article VI.
5.4.    Settlements. Settlement of amounts owed under this Article V with respect to the Interim Period shall have been effectuated under Section 4.1, and settlement of amounts owed on and after the Closing Date shall be made in accordance with Article VI.
ARTICLE VI     
 
ACCOUNTING AND SETTLEMENT
6.1.    Monthly Reinsurance Settlement Reports and NAIC Reserve Reports.
(a)    As soon as practicable but not more than seven (7) Business Days following the end of each Monthly Accounting Period ending after the Closing Date, the Company shall deliver to the Reinsurer a monthly reinsurance settlement report in the form of Schedule F-1  (the “Monthly Reinsurance Settlement Report”) and seriatim data reports substantially in the form of Schedule F-2.

(b)    Together with the Monthly Reinsurance Settlement Report, the Company shall deliver a written statement of the (i) NAIC Reserves for the Company for the applicable month and (ii) Separate Account NAIC Reserves for the Company for the applicable month, in each case substantially in the form of Schedule F-3, to the Reinsurer.
(c)        After the receipt by the Reinsurer from the Company of the monthly reports provided for in this Section 6.1, and until such time as the Monthly Reinsurance Settlement Report is finalized pursuant to Section 6.1(e), the Reinsurer and its authorized Representatives shall have, upon prior written notice, reasonable access during normal business hours to the working papers of the Company relating to such reports and the items set forth thereon.  The Reinsurer shall have the right to review the Monthly Reinsurance Settlement Report and comment thereon for a period of thirty (30) Business Days after receipt of such report.  Any changes in such Monthly Reinsurance Settlement Report that are agreed to by the parties within such thirty (30) Business Day review period shall be incorporated into a final report.  In the event the Reinsurer does not dispute such Monthly Reinsurance Settlement Report within such thirty (30) Business Day review period, such Monthly Reinsurance Settlement Report shall, subject to Section 3.4, be deemed final and binding on the parties.  
(d)    In the event that a good faith dispute arises regarding any item or items in a Monthly Reinsurance Settlement Report within such thirty (30) Business Day review period, each of the parties shall prepare separate written reports of such item or items remaining in dispute and refer such Monthly Reinsurance Settlement Report to the Third Party Actuary within ten (10) calendar days after the expiration of such thirty (30) Business Day review period.
(e)    The Third Party Actuary shall resolve within thirty (30) calendar days the dispute regarding such item or items in the Monthly Reinsurance Settlement Report; provided, however, that the dollar amount of each item in dispute shall be determined within the range of dollar amounts proposed by the Company and the Reinsurer; and provided, further, that the Third Party Actuary shall not review any items that are not in dispute or any assumptions underlying any calculations provided to it, and shall adhere to the methodologies employed by the Company for performing any such calculations.
(f)    The determinations by the Third Party Actuary as to the items in dispute shall be in writing and shall be final and binding on the parties, absent manifest error.  The fees, costs and expenses of retaining the Third Party Actuary shall be shared equally by the Company and the Reinsurer.
(g)    Within five (5) Business Days following the date on which any Monthly Reinsurance Settlement Report that was the subject of a timely dispute pursuant to this Section 6.1 becomes final pursuant to this Section 6.1, the parties shall make any necessary adjustment payments to reflect the resolution of any such disputes.
6.2.    Trust Reporting.  
(a)    Within ten (10) Business Days after the Reinsurer’s receipt of a Monthly Reinsurance Settlement Report, the Reinsurer shall certify in writing to the Company and the Trustee 

that all the assets held in the Trust Account as at the end of the applicable month are Eligible Trust Account Assets or, to the extent any such assets are not Eligible Trust Account Assets, the Reinsurer’s intended course of action (and actions already taken, if applicable) with regard to replacing such assets with Eligible Trust Account Assets.
(b)    Concurrently with the delivery of the above certification, the Reinsurer shall also deliver to the Company a certification by the Reinsurer of: (i) the Required Balance, and if applicable, and the portion of the Required Balance required to be maintained in the Retrocession Trust Account, each as at the end of the month, (ii) the aggregate Book Value of all the assets in the Trust Account and in the Retrocession Trust Account, if applicable, as at the end of the month and (iii) a complete list of the assets in the Trust Account and the Retrocession Trust Account, if applicable, and their respective Book Values as at the end of the month.
6.3.    Amounts Due to the Parties.
(a)    All amounts due to be paid to the Company or the Reinsurer under this Agreement shall be determined on a net basis, giving full effect to Section 3.7 as well as Section 6.3(b).  Each net amount due the Company or the Reinsurer with respect to each Monthly Accounting Period ending after the Closing Date as reflected on a Monthly Reinsurance Settlement Report (the “Monthly Settlement”) shall be paid in cash by the owing party no later than ten (10) Business Days after receipt by the Reinsurer of the Monthly Reinsurance Settlement Report (the “Monthly Settlement Date”).
(b)    Notwithstanding the Monthly Settlement process, if at any time during a Monthly Accounting Period a daily cash flow report provided by the Company to the Reinsurer pursuant to Section 6.5 and Schedule H indicates that payments during the period on and after the first day of such Monthly Accounting Period through the Business Day immediately preceding the date of such daily cash flow report by the Company for Reinsured Risks incurred by the Company under CRC Policies exceed the Minimum Monthly Cash Call Amount, then the Company can make a written request for the Reinsurer to make an advance payment of the Monthly Settlement to cover such payments and the Reinsurer will make the advance within five  (5) Business Days of receiving such request; provided that (i) the Company provides supporting documentation to evidence the payments, and (ii) the Reinsurer does not have a bona fide reason to dispute such payments.
6.4.    Annual Financial Reports.  As soon as practicable but no later than forty (40) calendar days following the end of each calendar year ending after the Closing Date, the Company shall supply the Reinsurer with the reports set forth on Schedule G and any other reports related to the Reinsured Contracts as may be reasonably requested by the Reinsurer for use in connection with the preparation of the Reinsurer’s statutory financial statements.  The parties shall cooperate in good faith to establish the form for the providing of such reports.
6.5.    Additional Reports and Updates.  For so long as this Agreement remains in effect, (i) the Company shall supply the Reinsurer with the reports set forth on Schedule H within the applicable time periods listed thereon and (ii) each of the parties shall periodically furnish to the other such other reports and information as may be reasonably requested by such other party for regulatory, tax, rating agency or similar purposes and reasonably available to it.

6.6.    Delayed Payments.  Unless otherwise specified in this Agreement, in the event that all or any portion of any payment due either party pursuant to this Agreement becomes overdue, the portion of the amount overdue shall bear interest at an annual rate equal to (i) the then current Three-Month LIBOR determined on the date that the payment becomes overdue plus (ii) thirty (30) basis points, for the time that the amount is overdue, with Three-Month LIBOR reset as of the first London Banking Day of each successive Monthly Accounting Period and applied to such Monthly Accounting Period.
ARTICLE VII     
 
TERMINATION FOR NON-PAYMENT
7.1.    Notice of Termination for Non-Payment.  On any day on which the Company is delinquent in paying amounts due and owing to the Reinsurer under this Agreement, other than amounts that are the subject of a good faith dispute or an error or omission of the type specified in Section 3.5, the Reinsurer may give the Company written notice that the reinsurance coverage hereunder shall terminate, solely with respect to the Reinsured Contracts to which such delinquent amount relates, as of the date of such notice of termination if such overdue amount plus applicable interest thereon is not paid to the Reinsurer within thirty (30) calendar days from the date of such notice.  If such written notice has been given by the Reinsurer and such overdue amount plus applicable interest thereon is not paid to the Reinsurer within such thirty (30) calendar day period, such failure to pay shall be treated by the parties as a Recapture Event with respect to the Reinsured Contracts as to which such amounts have not been paid, and the Reinsurer shall tender to the Company an amount equal to the Recapture Payment determined in accordance with Section 8.3 below solely with respect to the Reinsured Contracts to which such delinquent amount relates.  Thereupon, as of or on the Recapture Effective Time, all reinsurance coverage under this Agreement solely with respect to the Reinsured Contracts to which such delinquent amount relates shall terminate and the Reinsurer shall have no further liability solely with respect to the Reinsured Contracts to which such delinquent amount relates from the date on which such unpaid amount was originally due, other than the payment of the such Recapture Payment.
ARTICLE VIII     
 
RECAPTURE
8.1.    Recapture Events.  Each of the following shall constitute a “Recapture Event”:
(a)    (i) the Reinsurer ceases to or fails to be solvent, or generally fails to pay, or admits in writing its inability to pay, its debt as they become due, subject to applicable grace periods, (ii) the Reinsurer initiates or commences the appointment of a receiver, trustee, custodian, conservator, liquidator, mortgagee in possession (or agent therefor), or other similar Person for itself or for all or substantially all of its assets, (iii) the Reinsurer becomes subject to any liquidation, insolvency, rehabilitation, conservation, supervision or similar proceeding against the Reinsurer by 

a Governmental Authority having jurisdiction over the Reinsurer, or (iv) the Reinsurer takes any action to effectuate or authorize any of the foregoing;
(b)    (A) the Reinsurer fails to (1) fund the Trust Account for any amounts not subject to a good faith dispute that are required to be deposited therein by the Reinsurer in accordance with Section 9.5 and with the terms of the Trust Agreement, or (2) perform or observe any of the material terms and conditions of this Agreement or the Trust Agreement, including a failure to pay the Company any amount due under this Agreement that is not subject to a good faith dispute; and (B) any such failure continues for twenty (20) Business Days after the date on which the Reinsurer becomes aware of such failure, including, but not limited to, the date on which the Company notifies the Reinsurer in writing of such failure, it being understood that a breach by the Reinsurer of Section 14.1 or Section 14.2, or any representation or warranty contained in this Agreement shall not constitute a Recapture Event; 
(c)    with respect to a recapture of solely the Reinsured Contracts retroceded to the Retrocessionaire, if applicable and if any, the Retrocessionaire fails to perform or observe any of the material terms and conditions of the Retrocession Trust Agreement and such failure continues for twenty (20) Business Days after the expiration of any applicable cure period in the Retrocession Trust Agreement;
(d)    a Reinsurance Credit Event continues for the lesser of (x) ninety (90) calendar days and (y) the period from inception of such Reinsurance Credit Event to the “as of” date of the Company’s next statutory financial statement, and the Reinsurer has not taken action which would enable the Company to receive full statutory financial statement credit for reinsurance ceded to the Reinsurer under this Agreement, and the Company has acted in compliance with its obligations under Section 17.1(c); or
(e)    (i) the Reinsurer’s RBC Ratio is below [REDACTED] in any quarterly period and (ii) the Reinsurer has not within thirty (30) calendar days of such shortfall provided the Company with evidence reasonably satisfactory to the Company that the Reinsurer has either (i) restored its RBC Ratio to [REDACTED] or (ii) entered into a letter of intent whereby the Reinsurer and an affiliated insurance company agree to effect a novation causing this Agreement to be novated to such an affiliated insurance company that has capital in excess of [REDACTED] and an RBC Ratio (or the local equivalent if not a U.S. entity) in excess of [REDACTED], subject only to obtaining any required regulatory and third party consents.  Such affiliated insurance company must either be authorized in the domiciliary state of the Company (provided that such domiciliary state is a jurisdiction with substantially similar requirements as the Company’s domiciliary state as of the Closing Date) or provide collateral, sufficient to provide the Company full financial statement credit, in accordance with the credit for reinsurance requirements of the domiciliary state of the Company (provided that such domiciliary state is a jurisdiction with substantially similar requirements as the Company’s domiciliary state as of the Closing Date). If regulatory and third party consents are not obtained within thirty (30) calendar days of the date of the letter of intent, then the Company may immediately recapture the Reinsured Contracts.
Each calendar quarter, the Reinsurer shall provide to the Company the RBC Ratio of the Reinsurer calculated in accordance with then Applicable Law and Schedule H, (i) based on the Reinsurer’s 

good faith estimate as of the last day of such calendar quarter (other the last quarter of a calendar year), using, to the extent any factors are not reasonably available, hypothetical amounts derived from reasonable estimation and annualization or (ii) calculated by the Reinsurer as of such calendar year, as applicable.  Each such calculation shall include reasonable supporting detail with respect to such calculation.
The Reinsurer will notify the Company promptly in writing, in reasonable detail, of any Recapture Event or any event or circumstance it becomes aware of that, with the giving of notice or the passage of time, would reasonably be expected to constitute a Recapture Event.  The Company will notify the Reinsurer promptly in writing, in reasonable detail, upon becoming aware of a Recapture Event or any event or circumstance that, with the giving of notice or the passage of time, would reasonably be expected to constitute such a Recapture Event.
8.2.    Notice of Recapture.  
(a)    If a Recapture Event has occurred and is continuing, then the Company shall have the right, but not the obligation, to recapture:
(i)    except in the case of Section 8.1(c), all, but not less than all, of (A) the Reinsurer’s Quota Share of the Business Covered and (B) the Reinsurer’s Quota Share of the Business Covered (as each term is defined in the HLAIC Reinsurance Agreement) pursuant to the HLAIC Reinsurance Agreement, and
(ii)    in the case of Section 8.1(c), all, but not less than all of (A) the Reinsured Contracts retroceded to the Retrocessionaire pursuant to the Retrocession Agreement and (B) the Reinsured Contracts (as each term is defined in the HLAIC Reinsurance Agreement) retroceded to the Retrocessionaire pursuant to the HLAIC Retrocession Agreement.
In addition, if the Reinsurer elects to terminate this Agreement with respect to specific Reinsured Contracts pursuant to Section 7.1, then the Company shall be required to recapture the Reinsurer’s Quota Share of such Reinsured Contracts.
(b)    In order to exercise such right to recapture:
(i)    the Company must provide prior written notice to the Reinsurer of its intent to recapture such business within ninety (90) calendar days following (A) receipt of actual written notice from the Reinsurer of the occurrence of a Recapture Event specified in clauses (a), (b), (c), (d) or (e) of Section 8.1 or (B) such time as the Company becomes aware of a Recapture Event specified in clauses (a), (b), (d) or (e) of Section 8.1; 
(ii)    the Company’s written notice of recapture must be delivered following the expiry of any cure periods under Section 8.1 (or if no cure period is applicable, such notice may be delivered at any time) and designate an effective date and time of said recapture (the “Recapture Effective Time”) that is no less than thirty (30) calendar days and no more than sixty (60) calendar days following the date such notice of recapture is delivered; provided, that in the case of a Recapture Event described in Section 8.1(d), the company may designate a Recapture 

Effective Time that is as of the “as of” date of the Company’s relevant statutory financial statements; and
(iii)    the Recapture Event must be continuing on the date notice is delivered in accordance with Section 8.2(b)(ii) in order for such recapture to be consummated.
8.3.    Recapture Accounting and Settlement.  In the event of a recapture under this Article, the Reinsurer’s sole liability to the Company shall be for payment of the Recapture Payment.  Following any notice of recapture pursuant to this Article, the Company shall deliver to the Reinsurer within thirty (30) calendar days after the Recapture Effective Time, a Monthly Reinsurance Settlement Report for the Monthly Accounting Period ended on the Termination Date and a Terminal Accounting Settlement Report.  In the event of any recapture of only some, but not all, of the Reinsured Contracts under Section 7.1 or Section 8.1(c), the Recapture Payment shall be adjusted according to a mutually acceptable methodology. Within ten (10) Business Days after the finalization of such Monthly Reinsurance Settlement Report and the Terminal Accounting Settlement Report in accordance with Section 8.4, the Recapture Payment specified in the Terminal Accounting Settlement Report shall be paid to the Company by the Reinsurer.  Concurrently therewith, any and all assets remaining in the Trust Account shall be returned to the Reinsurer.  The payment of the Recapture Payment upon recapture shall constitute a complete and final release of the Reinsurer in respect of any and all known and unknown present and future obligations or liability of any nature to the Company under this Agreement.  
8.4.    Determination of Recapture Payment; Disputes.  
(a)    After the receipt by the Reinsurer from the Company of the Monthly Reinsurance Settlement Report and the Terminal Accounting Settlement Report provided for in Section 8.3, and until such time as such reports are finalized, the Reinsurer and its authorized Representatives shall have, upon prior written notice, reasonable access during normal business hours to the working papers of the Company relating to such reports and the items set forth thereon.  The Reinsurer shall have the right to review such reports and comment thereon for a period of thirty (30) Business Days after receipt of such reports.  Any changes in such reports that are agreed to by the parties within such thirty (30) Business Day review period shall be incorporated into final reports.  In the event the Reinsurer does not dispute such reports within such thirty (30) Business Day review period, such reports shall be deemed final.
(b)    In the event that a dispute arises regarding any item or items in the Terminal Accounting Settlement Report within such thirty (30) Business Day review period, each of the parties shall prepare separate written reports of such item or items remaining in dispute and refer such reports to the Third Party Actuary within ten (10) calendar days after the expiration of such thirty (30) Business Day review period.
(c)    The Third Party Actuary shall resolve within thirty (30) calendar days the dispute regarding such item or items in the Terminal Accounting Settlement Report; provided, however, that the dollar amount of each item in dispute shall be determined within the range of dollar amounts proposed by the Company and the Reinsurer; and provided, further, that the Third Party Actuary shall not review any items that are not in dispute.

(d)    The determinations by the Third Party Actuary as to the items in dispute shall be in writing and shall be final and binding on the parties.  The fees, costs and expenses of retaining the Third Party Actuary shall be shared equally by the Company and the Reinsurer.
(e)    Any dispute with respect to the Monthly Reinsurance Settlement Reports for the Monthly Accounting Period ended on the Termination Date shall be governed by Section 6.1.  In the event that there are disputes with respect to both the Monthly Reinsurance Settlement Report for the Monthly Accounting Period in which a recapture occurred pursuant to Section 6.1 and the Terminal Accounting Settlement Report pursuant to this Section 8.4, the parties shall require that the Third Party Actuary resolve all such disputes concurrently.
(f)    In the event that a dispute arises regarding the Fair Market Value of the assets transferred pursuant to item (iv) of Schedule C, as part of the determination of the Recapture Payment, the parties shall prepare separate written reports of such item or items remaining in dispute and refer such reports to the Valuation Expert within ten (10) calendar days after first discussing such value.  The Valuation Expert shall resolve within thirty (30) calendar days the dispute regarding such value; provided, however, that the dollar amount of the item in dispute shall be determined within the range of dollar amounts proposed by the Company and the Reinsurer.  The Valuation Expert shall not review any items that are not in dispute or any assumptions underlying any calculations provided to it, and shall adhere to the methodologies employed by the Reinsurer for performing any such calculations.  The determination by the Valuation Expert as to the item in dispute shall be in writing and shall be final, binding and conclusive on the parties absent manifest error.  The fees, costs and expenses of retaining the Valuation Expert shall be shared equally by the Company and the Reinsurer.
8.5.    Partial Recaptures and Liability.  Except as otherwise set forth in Section 7.1 and Section 8.1(c), partial recaptures shall not be permitted under this Agreement unless otherwise agreed to by the parties.
ARTICLE IX     
 
TRUST ACCOUNT  
9.1.    Trust Account.  In order to secure the obligations of the Reinsurer hereunder, the Company and the Reinsurer, on even date herewith, have entered into a trust agreement in the form attached hereto as Exhibit 1 (the “Trust Agreement”), pursuant to which the Reinsurer as grantor established the Trust Account with the Trustee for the benefit of the Company.  In addition, the Company, the Reinsurer and the Retrocessionaire, if the Closing will occur and on the day of the Closing, or if the Closing has occurred and at any time after the Closing (a) all conditions precedent to the closing of the transaction requiring implementation of the Retrocession Trust Agreement, the form of which is attached hereto as Exhibit 2 (the “Retrocession Trust Agreement”) and the Retrocession Agreement are satisfied (as certified in writing by the Reinsurer), and (b) the Reinsurer and the Retrocessionaire are ready, willing and able to execute and deliver the Retrocession Agreement and the Retrocession Trust Agreement and to perform their respective obligations thereunder to be performed at the closing of the transactions contemplated therein, then the Company 

shall, upon the written request of the Reinsurer (provided that written request is delivered to the Company not later than three (3) Business Days prior to the intended date of the closing of the transactions requiring implementation of the Retrocession Trust Agreement and the Retrocession Agreement), enter into the Retrocession Trust Agreement in the form attached hereto as Exhibit 2, together with any conditions, modifications or limitations with respect to such form that, individually and in the aggregate, would have an impact on the Company that is either insignificant or not adverse (as determined by the Company in good faith and reasonably taking into account the economic and accounting impact of such condition, modification or limitation on the Company), pursuant to which the Retrocessionaire as grantor shall establish the Retrocession Trust Account with the Trustee for the benefit of the Company and the Reinsurer.  The Trustee (i) is a qualified United States financial institution authorized to act as a fiduciary of a trust and (ii) is not a parent, subsidiary or Affiliate of the Company, the Reinsurer or the Retrocessionaire, if applicable.  Each of the Trust Account and the Retrocession Trust Account, if applicable, must be clearly designated as a segregated account on the books, records and information systems of the Trustee.  
9.2.    Value of Assets in Trust.  Except as otherwise provided in Section 4.3, assets in the Trust Account shall be valued according to their then-current Book Value, including accrued interest, and shall consist only of Eligible Trust Account Assets.
9.3.    Depositing Assets in Trust.  Prior to depositing assets with the Trustee, the Reinsurer or, if the Company is depositing assets into the Trust Account on behalf of the Reinsurer, the Company, will execute assignments or endorsements in blank, or transfer legal title to the Trustee of all shares, obligations, or any assets requiring assignments, in order that the Company, or the Trustee upon direction of the Company, may whenever necessary negotiate these assets without the consent or signature from the Reinsurer or any other entity.
9.4.    Settlements of Account.  All settlements of account between the Company and the Reinsurer shall be made in cash or its equivalent.
9.5.    Rebalancing the Trust Account.  If the Trust Account Balance as of the end of any calendar month after the Closing Date is less than (x) the Required Balance as set forth in the statement contemplated by Section 6.2(b) for such calendar month, minus if applicable, amounts withdrawn by the Company in accordance with Section 9.8 that are subject to a good faith dispute, provided that such reduction shall only be permitted to the extent that such disputed amount has not already been reflected in the NAIC Reserves incorporated in the Required Balance, minus (y) if applicable, the Retrocession Trust Account Balance (if any) as set forth in such statement, then, unless such shortfall shall have been cured by assets deposited into the Retrocession Trust Account, the Reinsurer shall deposit additional Eligible Trust Account Assets into the Trust Account within fifteen (15) Business Days following the date such shortfall is determined so that the Trust Account Balance is no less than the Required Balance set forth in such statement, minus if applicable, amounts withdrawn by the Company in accordance with Section 9.8 that are subject to a good faith dispute, provided that such reduction shall only be permitted to the extent that such disputed amount has not already been reflected in the NAIC Reserves incorporated in the Required Balance, minus if applicable, the Retrocession Trust Account Balance (if any) set forth in such statement; provided, however, that as of and after the occurrence of a Reinsurance Credit Event and provided that a 

statutory trust is put in place to secure reinsurance credit in accordance with Section 17.1, for purposes of any provision of this Agreement, if applicable, the Retrocession Trust Account Balance shall not be subtracted for purposes of the calculations under the preceding sentence other than, if applicable, amounts withdrawn by the Company in accordance with Section 9.8 that are subject to a good faith dispute, provided that such reduction shall only be permitted to the extent that such disputed amount has not already been reflected in the NAIC Reserves incorporated in the Required Balance.  Without limiting the foregoing, if an asset in the Trust Account no longer qualifies as an Eligible Trust Account Asset, then, within fifteen (15) Business Days following the date on which the Reinsurer becomes aware of such circumstance, the Reinsurer shall replace such asset with one or more Eligible Trust Account Assets in accordance with Section 9.7.  Notwithstanding the foregoing, should any asset in the Trust Account become impaired under SAP the Reinsurer shall, as promptly as practicable but in no event later than five (5) Business Days following the date on which the Reinsurer becomes aware of such circumstances, deposit or substitute additional assets constituting Eligible Trust Account Assets in accordance with this Section 9.5 or Section 9.7, to the extent required such that the Trust Account Balance is no less than the balance required as of the end of the month preceding the month in which the impairment occurred. 
9.6.    Trust Account Withdrawals.  If, as of any month end on and after the Closing Date, (x) the Trust Account Balance exceeds the Required Balance, minus if applicable, amounts withdrawn by the Company in accordance with Section 9.8 that are subject to a good faith dispute, provided that such reduction shall only be permitted to the extent that such disputed amount has not already been reflected in the NAIC Reserves incorporated in the Required Balance, minus (y) if applicable, the Retrocession Trust Account Balance (if any), then within ten (10) Business Days after the Reinsurer’s receipt of a Monthly Reinsurance Settlement Report for such month end, the Reinsurer may make a written demand to the Trustee to release to the Reinsurer assets in the Trust Account and the Trustee shall release such assets, subject to the Company’s prior written consent, which consent shall be granted if all of the following conditions and those set forth in clause (x) above are satisfied after any such withdrawal and shall be deemed granted if the Company has not provided the Reinsurer and Trustee a written response within five (5) Business Days of receipt of Reinsurer’s written demand: (a) no Recapture Event has occurred and is continuing (unless a recapture in respect of such Recapture Event is no longer exercisable); (b) the Book Value, including accrued interest for so long as such interest is credited by the Trustee, of the Trust Account assets shall be no less than the Required Balance, minus if applicable, amounts withdrawn by the Company in accordance with Section 9.8 that are subject to a good faith dispute, provided that such reduction shall only be permitted to the extent that such disputed amount has not already been reflected in the NAIC Reserves incorporated in the Required Balance, minus if applicable, the Retrocession Trust Account Balance (if any) after such withdrawal; and (c) all the assets held in the Trust Account after such withdrawal are Eligible Trust Account Assets; provided, however, that with respect to any withdrawal and transfer of cash in connection with the payment by the Reinsurer of an amount specified in a Monthly Reinsurance Settlement Report, if the conditions in (x) and (a) through (c) are all met, the Reinsurer may direct the Trustee to release such cash to the Company without prior notice to or approval by the Company, upon presentation to the Trustee of (i) a copy of the applicable Monthly Reinsurance Settlement Report delivered by the Company to the Reinsurer and (ii) a certification to the Trustee, with a copy to the Company, that such conditions are met.

9.7.    Substitution of Assets.  The Reinsurer shall have the right to instruct the Trustee to substitute or exchange assets contained within the Trust Account provided that (i) the replacement assets are Eligible Trust Account Assets; (ii) the replacement assets shall be deposited in the Trust Account on the same day of substitution or exchange, (iii) the aggregate Book Value, including accrued interest for so long as such interest is credited by the Trustee, of the replacement assets are at least equal to the aggregate Book Value, including accrued interest for so long as such interest is credited by the Trustee, of the assets being removed from the Trust Account; and (iv) the aggregate Fair Market Value, including accrued interest for so long as such interest is credited by the Trustee, of the replacement assets is at least equal to the aggregate Fair Market Value, including accrued interest for so long as such interest is credited by the Trustee, of the assets being removed from the Trust Account.
9.8.    Permitted Use of Trust Account Assets.
(a)    The Company shall be permitted to withdraw assets from the Trust Account only if (x) a Recapture Event has occurred and is continuing and (y) the Reinsurer has not paid an amount in full that is due and owing to the Company under this Agreement and any applicable payment period respect thereof; and then only for one or more of the following purposes: (1) to pay, or reimburse the Company for, amounts due, but not yet recovered from, the Reinsurer under this Agreement in order to satisfy liabilities of the Reinsurer under this Agreement; and (2) to pay expenses relating to the withdrawal, liquidation or enforcement of legal rights with respect to the Trust Account assets to the extent such amounts are not being disputed by the Reinsurer in good faith.
(b)    Provided that the Retrocession Agreement and Retrocession Trust Agreement are applicable to this Agreement, the Reinsurer acknowledges and agrees that pursuant to Section 9.8 of the Retrocession Agreement and the Retrocession Trust Agreement, the Company shall be permitted to withdraw assets from the Retrocession Trust Account only if (x) a Recapture Event has occurred and is continuing and (y) the Reinsurer has not paid an amount in full that is due and owing to the Company under this Agreement relating to the Reinsured Contracts retroceded to the Retrocessionaire and then only in an amount not to exceed the Retrocessionaire’s Quota Share of such amount and in accordance with the terms and conditions of the Retrocession Trust Agreement.
9.9.    Excess Withdrawals.  The Company shall promptly return (or instruct the Trustee to return) to the Reinsurer any assets withdrawn from the Trust Account (and interest paid or accrued thereon) in excess of the actual amounts required for Section 9.8, and such excess amount shall bear additional interest calculated at a rate equal to the Three-Month LIBOR plus thirty (30) basis points per annum as computed on the basis of (i) a 360-day year composed of twelve (12) 30-day months and (ii) daily compounding, from the time that such excess amount is outstanding until such excess amount is returned to the Reinsurer.  Pending such return, the Company shall hold all such amounts separate and apart from its other assets in trust for the benefit of the Reinsurer.
9.10.    Application of this Article.  All of the foregoing provisions of this Article are to be applied without diminution because of insolvency on the part of either the Company or the Reinsurer.  In the event that a statutory trust is put in place to secure reinsurance credit, the 

parties will revise the provisions of this Article IX as necessary to conform to the requirements under Applicable Law of such a statutory trust, including to (i) provide that the Retrocession Trust Account Balance (if applicable and if any), shall not be subtracted from the Required Balance for purposes of any provision of this Agreement, (ii) eliminate conditions applicable to the Reinsurer furnishing or withholding its consent to Trust Account withdrawals, (iii) expand the Company’s rights to withdraw assets from the Trust Account and (iv) value the assets in the Trust Account at Fair Market Value and (v) make such other changes as may be a necessary or appropriate for consistency with Applicable Law with respect to credit for reinsurance.
9.11.    Retrocession on Funds Withheld Basis.  If at any time all of the reinsurance provided pursuant to the Retrocession Agreement, if applicable, is on a funds withheld basis, references to the Retrocession Trust Account, Retrocession Trust Account Balance and Retrocession Trust Agreement shall not apply to this Agreement.
ARTICLE X     
 
DURATION AND TERMINATION
10.1.    Duration.  Except as otherwise provided herein, this Agreement shall be unlimited in duration.
10.2.    Termination.  This Agreement will terminate on the earlier of:  (i) the date the Company’s liability under the Business Covered terminates; (ii) the date this Agreement is terminated in accordance with Article VII; or (iii) the date the Reinsurer’s Quota Share of the Business Covered is recaptured by the Company in accordance with Article VIII; in each case following payment by each party of all amounts due to the other under this Agreement (any such date, the “Termination Date”).
ARTICLE XI     
 
INSOLVENCY
11.1.    Payments.  In the event of the insolvency of the Company, all reinsurance ceded, renewed or otherwise becoming effective under this Agreement shall be payable by the Reinsurer directly to the Company or its liquidator, receiver or statutory successor pursuant to the terms of this Agreement (except if the Reinsurer, with the consent of the contractholders of the Reinsured Contracts, has assumed policy obligations of the Company as its direct obligations to the payees under the Reinsured Contracts, in substitution for the obligations of the Company to such payees), without diminution because of the insolvency of the Company.  It is agreed and understood, however, that (i) in the event of the insolvency of the Company, the liquidator, receiver or statutory successor of the Company shall give the Reinsurer written notice of the pendency of a claim against the insolvent Company on a Reinsured Contract within a reasonable time after such claim is filed in the insolvency proceeding and (ii) during the pendency of such claim the Reinsurer may investigate such claim and interpose, at its own expense, in the proceeding where such claim 

is to be adjudicated any defenses which it deems available to the Company, its liquidator, receiver or statutory successor.
11.2.    Expenses.  It is further understood that any expense thus incurred by the Reinsurer pursuant to Section 11.1 shall be chargeable, subject to court approval, against the insolvent Company as part of the expense of liquidation to the extent of a proportionate share of the benefit which may accrue to the Company solely as a result of the defense undertaken by the Reinsurer.  Where two or more assuming reinsurers are involved in the same claim and a majority in interest elect to interpose defenses to such claim, the expense shall be apportioned in accordance with the terms of this Agreement as though such expense had been incurred by the Company.
ARTICLE XII     
 
DISPUTE RESOLUTION REGARDING ADMINISTRATION
12.1.    Resolution of Disputes.  Any dispute between the Company and the Reinsurer arising out of the provisions of Section 3.9 of this Agreement, or concerning its interpretation or validity, whether arising before or after termination of this Agreement, shall be submitted to arbitration in the manner set forth in this Article XII.  Either party may initiate arbitration of any such dispute by giving written notice to the other party of its intention to arbitrate in accordance with Section 12.4; provided, however, that prior to the commencement of any arbitration hereunder, the parties must first settle and pay any amounts outstanding and not in dispute.
12.2.    Good Faith Negotiation of Disputes.  As a condition precedent to arbitration hereunder, any dispute arising out of or in connection with Section 3.9 of this Agreement, before or after its expiry or termination, shall be attempted to be resolved by negotiation between the parties.  Either party may give notice to the other party detailing the matter under dispute and requesting the other party to engage in negotiation.  Within fourteen (14) calendar days of the receipt of such notice, each party shall appoint a designated officer who together will attempt to resolve the dispute.  The officers shall meet at a mutually agreeable location as early as possible and as often as reasonably necessary, in order to gather and furnish the other with all appropriate and relevant information concerning the matter under dispute. The officers shall discuss and negotiate in good faith without the necessity of any formal proceedings.  During the negotiation process, all reasonable requests made by one officer to the other for information will be honored. The specific format for such discussions will be mutually decided by the designated officers.  The parties agree to refer the dispute to an arbitration panel, in accordance to the procedure set out in Section 12.3 below, if the officers cannot resolve the dispute within thirty (30) calendar days from the date of the negotiation notice being served in accordance with this Section.  The parties may agree in writing to extend the negotiation period for an additional thirty (30) calendar days.
12.3.    Composition of Panel.  The arbitration shall be conducted by a panel of three (3) arbitrators, who shall be disinterested current or former executive officers of life insurance companies other than the two parties to this Agreement or their Affiliates.  Each party shall appoint one of the arbitrators, who shall in turn select the third.  In the event that either party should fail to choose an arbitrator within thirty (30) calendar days after the other party has given notice of its 

arbitrator appointment, that party may choose two arbitrators, who shall in turn choose a third arbitrator.  If the two arbitrators are unable to agree upon the selection of a third arbitrator within thirty (30) calendar days following their appointment, the third arbitrator shall be selected in accordance with the AIDA Reinsurance and Insurance Arbitration Society – US (“ARIAS-US”) required selections process.
12.4.    Notice of Intention to Arbitrate.  The party requesting arbitration shall give written notice of its intention to arbitrate by registered mail or a recognized overnight courier to the other party.
12.5.    Choice of Forum.  Any arbitration instituted pursuant to this Article XII shall be held in New York, New York or such other place as the parties may mutually agree.
12.6.    Procedure Governing Arbitration.  The arbitration shall be conducted in accordance with the procedures of ARIAS-US.  The arbitration panel will interpret Section 3.9 of this Agreement as an honorable engagement and shall make its decision considering the custom and practice of the life insurance industry.  The arbitration panel shall be relieved of all judicial formality and will not be bound by the strict rules of procedure and evidence.  The arbitration panel shall use its best efforts to hold the proceeding within three (3) months after selection of the third arbitrator in accordance with Section 12.3 above. 
12.7.    Arbitration Award.  The arbitration panel shall render its decision within sixty (60) calendar days after termination of the proceeding unless the parties consent to an extension, which decision shall be in writing, stating the reason therefor.  The decision of the majority of the panel shall be final and binding on the parties to the proceeding except to the extent otherwise provided in the Federal Arbitration Act.  Judgment upon the award may be entered in any court having jurisdiction pursuant to the Federal Arbitration Act.
12.8.    Cost of Arbitration.  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 and the remaining costs of the arbitration.
12.9.    Limit of Authority.  It is agreed that the arbitrators shall have no authority to impose any punitive, exemplary or consequential damage awards on either of the parties hereto.
ARTICLE XIII     
 
DAC TAX ELECTION
13.1.    The Company and the Reinsurer each acknowledge that it is subject to taxation under Subchapter “L” of the Internal Revenue Code of 1986 (as amended).
13.2.    With respect to this Agreement, the Company and the Reinsurer agree to the following pursuant to Section 1.848-2(g)(8) of the Income Tax Regulations issued December 1992 whereby:

(i)    Each party agrees to attach a schedule to its federal income tax return which identifies this Agreement for which the joint election under the regulation has been made;
(ii)    The party with net positive consideration (as defined in the regulations promulgated under Section 848 of the Internal Revenue Code of 1986, as amended) for this Agreement for each taxable year agrees to capitalize specified policy acquisition expenses with respect to this Agreement without regard to the general deductions limitation of Section 848(c)(1);
(iii)    Each party agrees to exchange information pertaining to the amount of net consideration under this Agreement each year to ensure consistency; and
(iv)    This election shall be effective for the year that this Agreement was entered into and for all subsequent years that this Agreement remains in effect.
ARTICLE XIV     
 
CONFIDENTIALITY
14.1.    Confidentiality.  The Reinsurer agrees to protect and hold all nonpublic personal contractholder information provided to the Reinsurer by the Company in conjunction with this Agreement in strict confidence and to take reasonable steps necessary to protect the nonpublic personal information from unauthorized or inadvertent disclosure.  Nonpublic personal information includes, but is not limited to, health information, financial information and other information provided to the Reinsurer by the Company in conjunction with carrying out the Reinsurer’s obligations under this Agreement.  No party shall make, or permit any person to make, any public announcement concerning this Agreement or the transactions contemplated hereby except as required by Applicable Law, or with the prior written consent of the other party.  If the disclosing party is required by Applicable Law to make a filing with a regulator, the disclosing party will (i) use its reasonable best efforts to notify the other party (except in connection with the disclosure of such confidential information to a Governmental Authority in connection with a regulatory exam or inquiry), and (ii) request confidentiality with respect to the specific terms of this Agreement and the transactions contemplated hereby if it has the option to do so and the filing is not already confidential.  Further, both the Reinsurer and the Company agree they may not use the name, trademarks, service marks, trade names, or other indicia of origin of the other party in connection with any advertising, publicity materials or activities, customer lists or other public communications without the prior written consent of the other party.  In the event of any violation of this Section 14.1, the injured party shall have, in addition to any other rights and remedies, the right and remedy of injunctive relief from a court of competent jurisdiction.
14.1.    Disclosure.  Notwithstanding the foregoing, neither the Company nor the Reinsurer will be prohibited from disclosing such confidential information described in Section 14.1 (i) to its retrocessionaires or hedge or other risk mitigation counterparties in connection with its retrocession or hedging of all or a portion of the Reinsured Risks, so long as any such retrocessionaires or hedge counterparties are bound to confidentiality obligations in respect thereof that are substantially similar to those contained herein, (ii) to its and its Affiliates’ directors, officers 

and employees who have a need for such information in the conduct of its business (it being understood that the Persons to whom such disclosure is made will be informed of the confidential nature of such information and instructed to keep such information confidential), (iii) as might be necessary, during the course of external audits, (iv) to the extent it is required to disclose any such information in its statutory filings, (v) other than with respect to nonpublic personal information, to the extent it is required to provide such information to any rating agency, or (vi) as required by Applicable Law or any order, request, requirement, inquiry or subpoena by any Governmental Authority.
14.2.    Survival.  The Reinsurer’s obligation to maintain the confidentiality of nonpublic personal contractholder information provided to the Reinsurer shall survive termination of this Agreement and shall remain in effect for as long as the nonpublic personal information remains in the Reinsurer’s possession.
ARTICLE XV     
 
REPRESENTATIONS AND COVENANTS
15.1.    Representations and Warranties of the Company.  To the extent relating to the Reinsured Contracts and Covered Liabilities, the Company represents and warrants to the Reinsurer as follows as of the SAPA Execution Date and as of the SAPA Closing Date, except (i) for such representations and warranties which address matters only as of a specific date, which representations and warranties shall be true and correct as of such specific date, (ii) as disclosed in any Company SEC Reports filed with the SEC and publicly available on the internet website of the SEC at least ten (10) Business Days prior to the SAPA Execution Date (excluding any disclosure set forth in sections titled “Risk Factors” or “forward-looking statements” or in any other section to the extent the disclosure in such other section is a forward-looking statement or cautionary, predictive or forward-looking in nature), and (iii) as set forth in the corresponding numbered disclosure schedule provided on the SAPA Execution Date (the “Disclosure Schedule”):
(a)    Organization.  The Company (i) is a life insurance company duly organized, validly existing and in good standing under the laws of the State of Connecticut, (ii) is duly qualified as a foreign corporation to do business and is in good standing in each jurisdiction where the character of its owned, operated or leased properties or the nature of its activities makes such qualification necessary and (iii) has the requisite corporate power and authority to operate its business as now conducted, except in the case of clause (ii), where the failures to be so qualified, individually or in the aggregate, would not reasonably be expected to have a Company Material Adverse Effect.
(b)    Authorization.  The Company has all requisite corporate power to enter into, consummate the transactions contemplated by, and carry out its obligations under, this Agreement and the Trust Agreement.  The execution and delivery by the Company of this Agreement and the Trust Agreement, and the consummation by the Company of the transactions contemplated by, and the performance by the Company of its obligations under, this Agreement and the Trust Agreement have been duly authorized by all requisite corporate action on the part of the Company.  Upon execution and delivery of this Agreement and the Trust Agreement, this Agreement and the Trust 

Agreement will be duly executed and delivered by the Company, and (assuming due authorization, execution and delivery by each other party to this Agreement and the Trust Agreement) this Agreement and the Trust Agreement will constitute, the legal, valid and binding obligation of the Company, enforceable against it in accordance with its terms, subject to the effect of any applicable bankruptcy, reorganization, insolvency, moratorium, rehabilitation, liquidation, fraudulent conveyance or similar Applicable Law relating to or affecting creditors’ rights generally and subject, as to enforceability, to the effect of general equitable principles (regardless of whether such enforceability is considered in a proceeding in equity or at law).  The Company has made available to the Reinsurer copies of the organizational documents of the Company, in each case as amended and in effect as of the SAPA Execution Date. 
(c)    No Conflict or Violation.  The execution and delivery of each of this Agreement and the Trust Agreement does not, and the performance by the Company of its obligation hereunder and under the Trust Agreement will not, conflict with, or result in any violation of or default (with or without notice or lapse of time, or both) under, or give rise to a right of termination or cancellation under, any provision of (i) the articles or certificate of incorporation and by-laws or comparable organizational documents of the Company, (ii) any material contract, permit, order, judgment or decree to which the Company is a party, (iii) any order of any Governmental Authority or (iv) any Applicable Law, except for such violations or defaults which would not reasonably be expected to have a Company Material Adverse Effect on the Business Covered or the Company’s ability to satisfy its obligations hereunder and under the Trust Agreement.
(d)    No Consents or Approvals.  The execution and delivery of each of this Agreement and the Trust Agreement and the performance of the obligations hereunder and thereunder will not require the Company to obtain any consent, approval, order or authorization of, or make any registration, declaration or filing with, any Governmental Authority or other Person, except any consents, approvals, orders, authorizations, registrations, declarations or filings (i) except as disclosed in Section 15.1(d)(i) of the Disclosure Schedule or that have been obtained or made or (ii) those of which the failure to obtain or make would not reasonably be expected to have a material adverse effect on the Business Covered or the Company’s ability to satisfy its obligations hereunder and under the Trust Agreement.
(e)    SEC Reports; Financial Statements; Absence of Undisclosed Liabilities.
(i)    The Company has timely filed or furnished all Company SEC Reports.  As of its filing or furnishing date, each Company SEC Report complied, and each such Company SEC Report filed or furnished after the SAPA Execution Date will comply, in all material respects with the requirements of the Securities Act and the Exchange Act applicable thereto.
(ii)    Except as set forth in Section 15.1(e)(ii) of the Disclosure Schedule, each of the GAAP Financial Statements has been derived from the books and records of the Company and its Subsidiaries and prepared in accordance with GAAP (subject to the omission of notes and normal year-end adjustments in the case of the unaudited statements) consistently applied by the Company throughout the periods presented and presents fairly, in all material respects, the consolidated financial position, results of operations, stockholder’s equity and cash flows of the 

Company and its consolidated Subsidiaries as at the respective dates and for the respective periods indicated, in accordance with GAAP.
(iii)    The Company has made available to the Reinsurer copies of the Statutory Statements.  Except as set forth on Section 15.1(e)(iii) of the Disclosure Schedule, the Statutory Statements have been derived from the books and records of the Company and prepared in all material respects in accordance with SAP applied consistently throughout the periods involved, and present fairly, in all material respects, the statutory financial position, results of operations and, if applicable, cash flows of the Company as of their respective dates and for the respective periods covered thereby.  All assets that are, or will be, as applicable, reflected as admitted assets on the Statutory Statements, to the extent applicable, comply, or will comply, as applicable, in all material respects with all Applicable Law.  No material deficiency has been asserted by any Governmental Authority with respect to any of the Statutory Statements that has not been resolved to the satisfaction of the applicable Governmental Authority prior to the date of this Agreement.
(iv)    Section 15.1(e)(iv) of the Disclosure Schedule sets forth a true and complete list of all accounting practices used by the Company in connection with the Company’s Statutory Statements that depart from the National Association of Insurance Commissioners’ Accounting Practices and Procedures Manual (each such departure, a “Permitted or Prescribed Accounting Practice”), if any. All such Permitted or Prescribed Accounting Practices have been approved by the Connecticut Insurance Department in writing at or prior to the time used by the Company in connection with the applicable Statutory Statement. Since January 1, 2014, neither the Company nor any Person acting on behalf of the Company has sought approval for a permitted accounting practice that was either (A) not granted by the Connecticut Insurance Department or (B) granted by the Connecticut Insurance Department but not used by the Company in connection with the applicable Statutory Statement.
(v)    When delivered, the Future Quarterly GAAP Financial Statements and Future Annual GAAP Financial Statements will be derived from the books and records of the Company and prepared in accordance with GAAP (subject to the omission of notes and normal year-end adjustments in the case of the Future GAAP Quarterly Financial Statements) consistently applied by the Company throughout the periods presented and present fairly, in all material respects, the consolidated financial position, results of operations, stockholder’s equity and cash flows of the Company and its consolidated Subsidiaries as at the respective dates and for the respective periods indicated, in accordance with GAAP. When delivered, the Future Quarterly Statutory Statements of the Company and Future Annual Statutory Statements of the Company will be derived from the books and records of the Company and prepared in all material respects in accordance with SAP consistently applied by the Company throughout the periods involved and present fairly, in all material respects, the statutory financial position, results of operations and, if applicable, cash flows of the Company, as applicable, as at the respective dates and for the respective periods indicated.  All assets that will be reflected as admitted assets on the Future Quarterly Statutory Statements of the Company and Future Annual Statutory Statements of the Company will comply in all material respects with all Applicable Law.

(vi)    The Company maintains internal accounting controls that provide reasonable assurance that: (A) records are maintained in reasonable detail and accurately and fairly reflect the transactions and dispositions of the assets of the Company, (B) transactions are recorded as necessary to permit preparation of financial statements in accordance with GAAP or SAP, as applicable, and that receipts and expenditures of the Company are being made only in accordance with authorizations of management and directors of the Company and (C) controls prevent or timely detect unauthorized acquisition, use or disposition of the Company’s assets that could have a material effect on the financial statements of the Company.
(vii)    The Company has made available to the Reinsurer true and correct copies of the unaudited annual statutory financial statements of each of the Separate Accounts as of and for the annual periods ended December 31, 2014, 2015 and 2016 (the “Separate Account Annual Statements”), in each case, as filed with the Connecticut Insurance Department, together with the exhibits, schedules and notes thereto and any affirmations and certifications filed therewith.  The Separate Account Annual Statements have been prepared in accordance with SAP applied consistently throughout the periods involved, and present fairly, in all material respects, the statutory financial position and results of operation of such Separate Accounts as of their respective dates and for their respective periods covered thereby.
(viii)    Except (A) as set forth in Section 15.1(e)(viii) of the Disclosure Schedule, (B) to the extent reserved for in the Financial Statements as of the Effective Date or disclosed in the notes thereto, (C) for Liabilities and obligations incurred in the ordinary course of business since the Effective Date, there are no Liabilities or obligations of the Company of any nature (whether accrued, absolute, contingent or otherwise) of a type that would be required to be disclosed, reflected or reserved for on a balance sheet or disclosed in the notes thereto, prepared in accordance with SAP or GAAP, as applicable.
(f)    Absence of Certain Changes.  Except as set forth in Section 15.1(f) of the Disclosure Schedule or as contemplated by this Agreement, from the Effective Date to the date of this Agreement, (i) the Company has conducted the business of the Company in the ordinary course, (ii) there has not occurred any event or events that, individually or in the aggregate, have had, or would reasonably be expected to have, a Company Material Adverse Effect and (iii) other than any action that would result in Leakage or Permitted Leakage (each as defined in the Stock and Asset Purchase Agreement), neither the Company nor any of its Affiliates has taken any action or failed to take any action that, if taken or failed to be taken after the SAPA Execution Date without the consent of Hopmeadow Acquisition, Inc., would constitute a breach of the Reinsured Business Pre-Closing Covenants had such Reinsured Business Pre-Closing Covenants been in effect from the Effective Date to the SAPA Execution Date.
(g)    Books and Records.  The books and records of the Company and the business conducted by the Company to the extent relating to the Covered Liabilities (i) have been maintained in all material respects in accordance with Applicable Law and (ii) accurately present and reflect, in all material respects, the business conducted by the Company and all transactions and actions related thereto.
(h)    Absence of Litigation.

(i)    Except as set forth in Section 15.1(h) of the Disclosure Schedule, as of the SAPA Execution Date, there are no Actions (other than individual claims under insurance or annuity policies and contracts, or any binders, slips, certificates, endorsements or riders thereto, within applicable policy limits) reasonably expected to result in (A) damages in excess of $1,000,000 or (B) that seek an injunction reasonably expected to materially affect the conduct of the business conducted by the Company to the extent relating to the Covered Liabilities, pending or, to the Knowledge of the Company, threatened in writing, against the Company.
(ii)    There are no Actions pending or, to the Knowledge of the Company, threatened against the Company or any of its Affiliates that question the validity of, or seek injunctive relief with respect to, this Agreement or the Trust Agreement or the right of the Company to enter into this Agreement or the Trust Agreement.
(i)    Brokers.  No reinsurance intermediary, broker or finder has acted directly or indirectly for the Company, nor has it incurred any obligations to pay any reinsurance intermediary, brokerage or finder’s fee or other commission, in connection with the transactions contemplated by this Agreement.
(j)    Compliance with Laws.
(i)    Except as set forth in Section 15.1(j)(i) of the Disclosure Schedule, since January 1, 2014, the Company has not been or currently is in violation in any material respect of any Applicable Laws, Governmental Orders or material agreement with any Governmental Authority, in each case, applicable to the extent relating to the Covered Liabilities.  Since January 1, 2014, the Company has not received any written notice, written communication, or, to the Knowledge of Company, oral notification from any Governmental Authority regarding any asserted past or present failure to comply, in any material respect, with any Applicable Law or Governmental Order and, to the Knowledge of the Company, there has not been any threat to provide such notification, in each case, applicable to the extent relating to the Covered Liabilities.
(ii)    Except as set forth in Section 15.1(j)(ii) of the Disclosure Schedule, the Company is not a party to, or bound by, any material Governmental Order or other material agreement with any Governmental Authority (including a consent agreement, memorandum or understanding with, or any commitment letter or similar undertaking to, any Governmental Authority), in each case, applicable to the extent relating to the Covered Liabilities.
(iii)    To the Knowledge of Company, since January 1, 2014, no director or officer of the Company or any of its Affiliates, acting for or on behalf of the Company has, directly or indirectly, (A) violated any applicable Anti-Bribery Laws, (B) violated any Applicable Law pertaining to export control, money laundering or anti-terrorism or (C) established or maintained any unrecorded fund or asset or made false entries in the books and records for the purpose of facilitating any of the matters set forth in clauses (A) and (B) above, in each case, to the extent relating to the Covered Liabilities.
(iv)    The Company and the Separate Accounts have filed all material reports, statements, documents, registrations, filings or submissions required to be filed with any 

Governmental Authority since January 1, 2014, in each case to the extent relating to the Covered Liabilities, and all such material reports, statements, documents, registrations, filings or submissions were timely filed and complied in all material respects with Applicable Law when filed or as amended or supplemented, and no deficiencies have been asserted by any Governmental Authority with respect to such material reports, statements, documents, registrations, filings or submissions that have not been resolved to the satisfaction of the applicable Governmental Authority prior to the date of this Agreement.
(v)    The Company has made available to the Reinsurer true and correct copies of all material reports, statements, documents, registrations, filings or submissions filed with any Governmental Authority since January 1, 2014 to the SAPA Execution Date, to the extent directly relating to the Covered Liabilities.  No later than five (5) Business Days prior to the SAPA Closing Date, the Seller (under and as defined in the Stock and Asset Purchase Agreement) has also made available to the Buyer (under and as defined in the Stock and Asset Purchase Agreement) true and correct copies of all such material reports, statements, documents, registrations, filings or submissions filed with any Governmental Authority following the SAPA Execution Date through the fifth (5th) Business Day prior to the SAPA Closing Date and, if applicable, has made available to the Buyer (under and as defined in the Stock and Asset Purchase Agreement) within one (1) Business Day of making such filing all such material reports, statements, documents, registrations, filings or submissions filed with any Governmental Authority between the fifth (5th) Business Day prior to the SAPA Closing Date and the SAPA Closing Date, each to the extent relating to the Covered Liabilities.
(k)    Governmental Licenses and Permits.  
(i)    The Company owns, holds or possesses all material governmental qualifications, registrations, licenses, permits or authorizations that are necessary for it to conduct its business and to own or use its assets and properties, as such business, assets and properties are conducted, owned and used on the SAPA Execution Date (collectively, the “Permits”).  
(ii)    Except as set forth in Section 15.1(k)(i) of the Disclosure Schedule, (A) all Permits are valid and in full force and effect in accordance with their terms, (B) the Company is not in default or violation, in any material respect, of any of the Permits, (C) the Company is not the subject of any pending or, to the Knowledge of the Company, threatened Action seeking the revocation, suspension, limitation, termination, modification, impairment or non-renewal of any Permit and (D) since January 1, 2014, the Company has not received any written notice or, to the Knowledge of the Company, oral notice from any Governmental Authority regarding (x) any actual or alleged violation of, or failure on the part of the Company to comply with, any term or requirement of any Permit or (y) any actual or potential revocation, withdrawal, suspension, cancellation, termination of, or modification to, any Permit.  Subject to obtaining the consents set forth in Section 15.1(k)(ii) of the Disclosure Schedule, none of the Permits will be subject to revocation, suspension, withdrawal or termination as a result of the consummation of the transactions contemplated by the Stock and Asset Purchase Agreement.
(l)    Insurance Issued by the Insurance Companies. To the Knowledge of Company, except as set forth in Section 15.1(l) of the Disclosure Schedule:

(i)    Since January 1, 2014, all benefits due and payable, or required to be credited, by or on behalf of the Company with respect to Covered Liabilities in force on such dates have in all material respects been paid or credited, as the case may be, in accordance with the terms of the Reinsured Contracts under which they arose, and such payments or credits were not materially delinquent and were paid or credited without material fines or penalties (excluding interest), except for such claims for which the Company believed there was a reasonable basis to contest payment and is taking such action.
(ii)    All policy forms on which in force Reinsured Contracts were issued, and all amendments, applications and certificates pertaining thereto (collectively, the “Policy Forms”), where required by Applicable Law, have been approved by all applicable Governmental Authorities or filed with and not objected to by such Governmental Authorities within the time period provided by Applicable Law for objection, other than such exceptions that would not be materially adverse to the Company and all such Policy Forms comply in all material respects with Applicable Law.  No material deficiencies have been asserted by any Governmental Authority with respect to any such filings which have not been cured or otherwise resolved.
(iii)    Any rates currently used for in force Reinsured Contracts, where required to be filed with or approved by any Governmental Authority, have been so filed or approved, and such rates conform thereto, subject to such exceptions that, individually or in the aggregate, have not had, and would not reasonably be expected to have, a Company Material Adverse Effect.
(iv)    The Reinsured Contracts that are in force or have been in force at any time since January 1, 2014 have been marketed, sold, issued, maintained and administered in compliance, in all material respects, with Applicable Law.
(v)    As of the SAPA Execution Date, there are no material unpaid claims or assessments made against the Company by any state insurance guaranty associations or similar organizations in connection with such association’s insurance guarantee fund.
(vi)    Since January 1, 2014, each Reinsured Contract that is a security has been (A) offered and sold, and all purchase payments under such Reinsured Contracts have been received, pursuant to an effective registration statement under the Securities Act or (B) offered and sold in reasonable reliance upon an applicable exemption from the registration and prospectus delivery requirements of the Securities Act.
(vii)    Since January 1, 2014, each private placement memorandum, prospectus, offering document, sales brochure, sales literature or advertising material, as amended or supplemented, relating to any Reinsured Contract or any Separate Account, as of their respective mailing dates or dates of use, complied in all material respects with Applicable Law.  Since January 1, 2014, all advertising or marketing materials relating to any Reinsured Contract that were required to be filed with FINRA or any other Governmental Authority have been timely filed therewith.
(m)    Actuarial Appraisal; Reserves.The Company has delivered to the Reinsurer a true and correct copy of the actuarial appraisal prepared by Milliman, dated April 21, 2017 and titled “Actuarial Appraisal of Talcott Resolution as of December 31, 2016” and any and all other 

attachments, opinions, addenda, errata, supplements and modifications thereto as of the date hereof (collectively, the “Actuarial Appraisal”).  As of the SAPA Execution Date, Milliman has not notified the Company or any of its Affiliates in writing that the Actuarial Appraisal is inaccurate in any material respect.  Except as set forth on Section 15.1(m)(i) of the Disclosure Schedule, the factual information and data provided by the Company and its Affiliates in writing to Milliman expressly in connection with the preparation of the Actuarial Appraisal (A) was obtained from the books and records of the Company and the Covered Liabilities, (B) were generated from the same underlying sources and systems that were utilized by the Company and its applicable Affiliates to prepare the Financial Statements as of the Effective Date, (C) was based upon an inventory of in force Reinsured Contracts that were issued by the Company that, at the time of preparation, was complete in all material respects and (D) was accurate in all material respects as of the date so provided, subject in each case to any limitations and qualifications contained in the Actuarial Appraisal.  As of the SAPA Execution Date, Milliman has not issued to the Company or any of its Affiliates, nor does the Company or any of its Affiliates have any pending request for, any new report or errata with respect to the Actuarial Appraisal.
(i)    Section 15.1(m)(ii) of the Disclosure Schedule lists the final versions of all actuarial reports (A) that were prepared since January 1, 2014 to the SAPA Execution Date (other than the Actuarial Appraisal), (B) relate to the Covered Liabilities and (C) were prepared by external actuaries or, to the extent made available to any Governmental Authority, internal actuaries.  The Company has made available to the Reinsurer true and correct copies of all such actuarial reports, together with all attachments, addenda, supplements and modifications thereto.  No later than five (5) Business Days prior to the SAPA Closing Date, the Seller (under and as defined in the Stock and Asset Purchase Agreement) has delivered to the Buyer (under and as defined in the Stock and Asset Purchase Agreement) an update to Section 15.1(m)(ii) of the Disclosure Schedule, prepared as if the phrase “to the SAPA Execution Date” were not included in the first sentence of this paragraph, listing all such actuarial reports prepared following the SAPA Execution Date to the fifth (5th) Business Day prior to the SAPA Closing Date and, if applicable, has delivered to the Buyer (under and as defined in the Stock and Asset Purchase Agreement) updates to such schedule to reflect any such actuarial reports prepared between the fifth (5th) Business Day prior to the SAPA Closing Date and the SAPA Closing Date.  The Seller (under and as defined in the Stock and Asset Purchase Agreement) has made available to the Buyer (under and as defined in the Stock and Asset Purchase Agreement) true and correct copies of all such actuarial reports, together with all attachments, addenda, supplements and modifications thereto relating to such update.
(ii)    The Reserves of the Company that relate solely to the Covered Liabilities, reflected in its Statutory Statements, except as otherwise noted in such Statutory Statements and notes thereto, (A) were computed in all material respects in accordance with generally accepted actuarial standards consistently applied and were fairly stated in accordance with sound actuarial provisions, (B) were computed on the basis of assumptions consistent with those used in computing the corresponding items in the Statutory Statements for the prior year, (C) were based on actuarial assumptions which produced reserves at least as great as those called for in any contract provision as to reserve basis and method, and are in accordance with all other contract provisions and (D) satisfied the requirements of all Applicable Law in all material respects.

(n)    Except for the representations and warranties contained in subsections (j), (l) and (m) of this Section 15.1, the Company makes no representations or warranties concerning the Business Covered, including any representations or warranties concerning data, the accuracy of any models with respect to the Business Covered, or the adequacy or sufficiency of Reserves.
(o)    Separate Accounts.
(i)    Section 15.1(o)(i) of Disclosure Schedule sets forth a list of all Separate Accounts established by the Company including an indication of whether each such Separate Account is (i) registered under the Investment Company Act (and, if applicable, the Investment Company Act registration file number applicable to such Separate Account) or (ii) associated with a Reinsured Contract that has been offered to a contractholder 1that is or is deemed to constitute the assets of an “employee benefit plan” within the meaning of Section 3(3)  of ERISA or an “individual retirement annuity” within the meaning of Section 4975 of the Code (collectively, “ERISA Separate Accounts”).  No later than five (5) Business Days prior to the SAPA Closing Date, the Seller (under and as defined in the Stock and Asset Purchase Agreement) has delivered to the Buyer (under and as defined in the Stock and Asset Purchase Agreement)an updated copy of such list for all Separate Accounts established following the SAPA Execution Date to the fifth (5th) Business Day prior to the SAPA Closing Date and shall have delivered to the Buyer (under and as defined in the Stock and Asset Purchase Agreement) an update, if any, with respect to such disclosure on the schedule on each Business Day between the fifth (5th) Business Day prior to the SAPA Closing Date and the SAPA Closing Date.  To the Knowledge of Company, since January 1, 2014, the Company, to the extent either would be regarded as a “disqualified person” or “party in interest” (as defined in Section 4975 of the Code and Section 3(14) of ERISA, respectively) has not engaged in any violation of any fiduciary duty under ERISA or any nonexempt prohibited transaction under Section 406 of ERISA or Section 4975 of the Code with respect to the ERISA Separate Accounts, in each case, that (A) individually or in the aggregate, have had, or would reasonably be expected to have, a material liability to the Company or (B) that result in any way from application of the definition of “fiduciary” under Department of Labor Regulation Section 2510.3-21(c), as applicable beginning June 9, 2017.  The Company does not have any general account that is subject to Title I of ERISA or Section 4975 of the Code by reason of the application of John Hancock Mutual Life Ins. v. Harris Trust & Sav. Bank (92-1074), 510 U.S. 86 (1993) after taking into account Department of Labor Regulation Section 2550.401c-1.  To the Knowledge of Company, neither it nor its Affiliates have provided investment advice that has formed or may form a primary basis for any investment decision in respect of any Reinsured Contract held by any contractholder that is subject to Title I of ERISA or an “individual retirement annuity,” or exercised any management or discretionary authority that would render it a fiduciary under Title I of ERISA or Section 4975 of the Code with respect to such Reinsured Contracts.  No payment received by Company or any of its Affiliates in respect of any Reinsured Contract held by any contractholder that is subject to Title I of ERISA or an “individual retirement annuity” that is from a third party unaffiliated with Company (i.e., in respect of any Registered Separate Account, including 12b-1 fees, revenue sharing, commissions etc.) has resulted or would reasonably be expected to result in a nonexempt prohibited transaction under Section 406 of ERISA or Section 4975 of the Code.  With respect to any Reinsured Contract held by contractholder that is subject to Title I of ERISA or an “individual retirement annuity” that has one or more separately managed accounts (whether or not 

a Separate Account), such account is managed by a qualified professional asset manager (within the meaning of Department of Labor Prohibited Transaction Class Exemption 84-14, as amended) pursuant to an effective investment management agreement as to which such manager has acknowledged (other than for separate accounts that are registered under the Investment Company Act of 1940 or provide for the guarantee of principal and interest) fiduciary authority under ERISA, the Code, or both, and to the Knowledge of Company, no fiduciary breach or other nonexempt prohibited transaction under Section 406 of ERISA or Section 4975 has occurred with respect to any such Reinsured Contract.  From and including June 9, 2017, neither the Company nor any of its Affiliates have provided any “investment advice” within the meaning of 29 CFR 2510.3(21)(a) pursuant to revised regulations published in the Federal Register on April 8, 2016 (located at 82 FR 16902 et seq) and applicable as of June 9, 2017, with respect to  any Reinsured Contract held by any contractholder that is subject to Title I of ERISA or an “individual retirement annuity” or other account otherwise subject to the prohibited transaction rules of Section 4975 of the Code.  
(ii)    Each Separate Account is, and since January 1, 2014, has been (i) duly and validly established and maintained in all material respects under Applicable Law and (ii) operating in compliance in all material respects with Applicable Law, the terms of Reinsured Contracts applicable to it, and the disclosure documents related to such Reinsured Contracts.
(iii)    Each Separate Account is either (A) registered as a unit investment trust or an open-end management investment company under the Investment Company Act (each, a “Registered Separate Account”) or (B) is not registered as an investment company in reasonable reliance upon the exclusion from the definition of an investment company in Section 3(c)(1), 3(c)(7) or 3(c)(11) of the Investment Company Act and, except as is provided on Section 15.1(o)(iii) of the Disclosure Schedule, is not subject to Title I of ERISA or Section 4975 of the Code.  The registration of each Separate Account registered under the Investment Company Act is in full force and effect.  Since January 1, 2014, each Registered Separate Account has (x) maintained a registration statement in material compliance with Section 8 of the Investment Company Act and (y) been operated in all material respects in compliance with all Applicable Laws (including the conditions of any applicable exemptions obtained from provisions of the Investment Company Act and all applicable regulations, rules, releases and orders of the SEC).
(iv)    Except as set forth in Section 15.1(o)(iv) of the Disclosure Schedule, no examinations, investigations, inspections and formal or informal inquiries of the Separate Accounts, including periodic regulatory examinations of the Separate Accounts’ affairs and condition, civil investigative demands and market conduct examinations, by any Governmental Authority have been conducted since January 1, 2014 through the SAPA Execution Date.
(v)    Except as set forth in Section 15.1(o)(v) of the Disclosure Schedule, since January 1, 2014, no notice has been received from, and no investigation, inquiry or review is pending or, to the Knowledge of the Company, threatened by, any Governmental Authority which has jurisdiction over such Separate Accounts with respect to any alleged material violation by the Company of any Applicable Law in connection with the Separate Accounts.
(vi)    (A) Each Separate Account currently is and has been since January 1, 2014 in compliance in all material respects with its investment objectives, investment policies 

and restrictions (as they may be amended from time to time) and other contract terms; (B) the value of the net assets of each Separate Account has been determined and is being determined using portfolio valuation methods that comply in all material respects with the methods described in its offering or plan documents and (C) the Company has provided investment advisory services to the Separate Accounts in compliance in all material respects with such Separate Account’s investment objectives, investment policies and restrictions (as they may be amended from time to time) and other contract terms.
(vii)    Each Registered Separate Account has written policies and procedures adopted pursuant to Rule 38a-1 of the Investment Company Act that are reasonably designed to prevent material violations of the United States Federal Securities Laws, as such term is defined in Rule 38a-1(e)(1) under the Investment Company Act.  Since January 1, 2014, there have been no material compliance matters that are materially adverse to any Registered Separate Account, as such term is defined in Rule 38a-1(e)(2) under the Investment Company Act, other than those which have been reported as required by Rule 38a-1(a)(4)(iii)(B), if any, and satisfactorily remedied or are in the process of being remedied.
(viii)    The Company has adopted written anti-money laundering programs and written customer identification programs applicable to its Separate Accounts that comply with Applicable Law and since January 1, 2014 the Company has complied with the terms of such programs in all material respects.
(p)    Distributors and Brokers; Third-Party Administrators.  
(i)    To the Knowledge of the Company, since January 1, 2014 to the SAPA Execution Date, each insurance agent, underwriter, wholesaler, broker, reinsurance intermediary and distributor that wrote, sold, or produced insurance business for the Company (each, a “Distributor”), at the time such Person wrote, sold or produced such business, was duly licensed as required by Applicable Law (for the type of business written, sold or produced on behalf of the Company), was duly appointed (to the extent required by Applicable Law) by the Company, and to the Knowledge of the Company, no Distributor is in violation (or with or without notice or lapse of time or both, would be in violation) of any term or provision of any Applicable Law applicable to the writing, sale or production of insurance business for the Company, except for such failures to be licensed or such violations which have been cured, resolved or settled through agreements with applicable Governmental Authorities, are barred by an applicable statute of limitations or that, individually or in the aggregate, have not had, and would not reasonably be expected to have, a Company Material Adverse Effect.
(ii)    Other than with respect to any termination that was effective on or prior to the Effective Date, no Material Distributor has notified the Company in writing of its intent to terminate its relationship with the Company with respect to the Reinsured Contracts.
(iii)    Except as set forth in Section 15.1(p) of the Disclosure Schedule, to the Knowledge of the Company, since January 1, 2014 to the SAPA Execution Date, each third-party administrator that managed or administered the Reinsured Contracts for the Company, at the time such Person managed or administered such Reinsured Contracts, was duly licensed as required 

by Applicable Law (for the type of business managed or administered on behalf of the Company), and to the Knowledge of the Company, no such third-party administrator has been since January 1, 2014 or is in violation (or with or without notice or lapse of time or both, would be in violation) of any term or provision of any Applicable Law applicable to the administration or management of the Reinsured Contracts for the Company, except for such failures to be licensed or such violations which have been cured, resolved or settled through agreements with applicable Governmental Authorities, are barred by an applicable statute of limitations, or that, individually or in the aggregate, have not had, and would not reasonably be expected to have, a Company Material Adverse Effect.
(q)    Reinsured Contracts.  The Company has provided the Reinsurer true and correct copies of substantially all of the policy forms, riders and endorsements pertaining to the Reinsured Contracts, subject to any state variations with respect thereto.
15.2.    Representations and Warranties of the Reinsurer.  The Reinsurer represents and warrants to the Company (which has relied upon these representations in entering into this Agreement) that as of the Effective Date:
(a)    Organization.  The Reinsurer is a corporation duly organized, validly existing and in good standing under the laws of the Commonwealth of Massachusetts.
(b)    Authorization.  The Reinsurer has all requisite corporate power to enter into, consummate the transactions contemplated by, and carry out its obligations under, this Agreement and the Trust Agreement.  The execution and delivery by the Reinsurer of this Agreement and the Trust Agreement, and the consummation by the Reinsurer of the transactions contemplated by, and the performance by the Reinsurer of its obligations under, this Agreement and the Trust Agreement have been duly authorized by all requisite corporate action on the part of the Reinsurer.  Upon execution and delivery of this Agreement and the Trust Agreement, this Agreement and the Trust Agreement will be duly executed and delivered by the Reinsurer, and (assuming due authorization, execution and delivery by each other party to this Agreement and the Trust Agreement) this Agreement and the Trust Agreement will constitute, the legal, valid and binding obligation of the Reinsurer, enforceable against it in accordance with its terms, subject to the effect of any applicable bankruptcy, reorganization, insolvency, moratorium, rehabilitation, liquidation, fraudulent conveyance or similar Applicable Law relating to or affecting creditors’ rights generally and subject, as to enforceability, to the effect of general equitable principles (regardless of whether such enforceability is considered in a proceeding in equity or at law).
(c)    No Conflict or Violation.  The execution and delivery of each of this Agreement and the Trust Agreement does not, and the performance by the Reinsurer of its obligation hereunder and under the Trust Agreement will not, conflict with, or result in any violation of or default (with or without notice or lapse of time, or both) under, or give rise to a right of termination or cancellation under, any provision of (i) the articles or certificate of incorporation and by-laws or comparable organizational documents of the Reinsurer, (ii) any contract, permit, order, judgment or decree to which the Reinsurer is a party, (iii) any order of any Governmental Authority or (iv) any Applicable Law, except for such violations or defaults which would not reasonably be expected to have a material adverse effect on the reinsurance being provided hereunder or the Reinsurer’s ability to satisfy its obligations hereunder and under the Trust Agreement.

(d)    No Consents or Approvals.  The execution and delivery of each of this Agreement and the Trust Agreement and the performance of the obligations hereunder and thereunder will not require the Reinsurer to obtain any consent, approval, order or authorization of, or make any registration, declaration or filing with, any Governmental Authority or other Person, except any consents, approvals, orders, authorizations, registrations, declarations or filings (i) that have been obtained or made or (ii) those of which the failure to obtain or make would not reasonably be expected to have a material adverse effect on the Reinsurer’s ability to satisfy its obligations hereunder and under the Trust Agreement.
(e)    Brokers.  No reinsurance intermediary, broker or finder has acted directly or indirectly for the Reinsurer, nor has it incurred any obligations to pay any reinsurance intermediary, brokerage or finder’s fee or other commission, in connection with the transactions contemplated by this Agreement.
15.3.    Covenants.
(a)    Transfer of Assets.  The Company hereby covenants and agrees with the Reinsurer that (i) as of the date of the transfer of any assets by the Company to the Reinsurer or to the Trust Account pursuant to this Agreement on the Effective Date or after the Effective Date, the Company will have good and marketable title, free and clear of any liens or other encumbrances, to all such assets and (ii) all assets transferred by the Company to the Reinsurer or to the Trust Account pursuant to this Agreement shall be transferred free and clear of any liens or other encumbrances.
(b)    Title to Assets Pre-Transfer. The Reinsurer hereby covenants and agrees with the Company that (i) as of the date of the transfer of any assets by the Reinsurer to the Trust Account or to the Company pursuant to this Agreement, the Reinsurer will have good and marketable title, free and clear of any liens or other encumbrances, to all such assets and (ii) all assets transferred by the Reinsurer to the Trust Account or to the Company pursuant to this Agreement shall be transferred free and clear of any liens or other encumbrances.
(c)    Title of Assets Post-Transfer.  Each of the parties hereby covenants and agrees that , after giving effect to any transfer of assets of such party to the Trust Account, the Trustee will have good and marketable title to such assets, free and clear of any liens or other encumbrances.
(d)    Utmost Good Faith; Duty of Cooperation.  Each of the parties covenants and agrees that it shall owe a duty of utmost good faith to the other in all matters hereunder and deal fairly with the other in order to accomplish the objectives of this Agreement.
ARTICLE XVI     
 
INDEMNIFICATION 

16.1.    Survival of Representations and Warranties.  Except for the representations and warranties contained in Sections 15.1(a), 15.1(b), 15.2(a) and 15.2(b), which shall survive the 

Closing Date indefinitely, all other representations and warranties made by the parties in this Agreement or in any certificate or other writing delivered pursuant hereto or in connection herewith shall survive the Closing Date and terminate on the later of (a) June 30, 2019 and (b) fifteen (15) months following the Closing Date.
16.2.    Obligation to Indemnify.
(a)    Subject to the limitations set forth in this Article XVI, the Company shall, indemnify, defend and hold harmless the Reinsurer and its Affiliates and Representatives, successors and assigns (collectively, the “Reinsurer Indemnified Parties”) from and against all Losses incurred by the Reinsurer Indemnified Parties to the extent arising from:
(i)    any inaccuracy in or breach of the representations and warranties made by the Company contained in Article XV of this Agreement; or
(ii)    any breach or failure by the Company to perform any of its covenants or obligations contained in this Agreement or any failure by Hopmeadow Acquisition, Inc. to have obtained the Reinsurer’s prior written consent to any amendments, modifications, terminations, waivers or any other supplements to the Reinsured Business Fundamental Representations or Reinsured Business Pre-Closing Covenants to the extent required under the Binder.
(b)    Subject to the limitations set forth in this Article XVI, the Reinsurer  shall indemnify, defend and hold harmless the Company and its Affiliates and Representatives, successors and assigns (collectively, the “Company Indemnified Parties”) from and against all Losses incurred by the Company Indemnified Parties to the extent arising from:
(i)    any breach of or inaccuracy in the representations and warranties made by the Reinsurer in Article XV of this Agreement; or
(a)    any breach or failure by the Reinsurer to perform any of its covenants or obligations contained in this Agreement.
(c)    The parties shall not be required to indemnify, defend or hold harmless any Indemnified Party against any Losses pursuant to Section 16.2(a)(i) or Section 16.2(b)(i) (other than Losses to the extent arising as a result of the inaccuracy or breach of any representation or warranty made by the Company in Section 15.1(a) and made by the Reinsurer in Section 15.2(a), as to which the limitations in this sentence shall not apply) with respect to any claim (or series of related claims arising from substantially the same underlying facts, events or circumstances) (i) with respect to Losses pursuant to Section 16.2(a)(i), until the aggregate amount of the Buyer Indemnified Parties’ Losses (as such terms are defined in the Stock and Asset Purchase Agreement), which shall be deemed to include (A) all Reinsurer Indemnified Parties’ Losses under Section 16.02(a)(i) hereto, (B) all Buyer Indemnified Parties’ Losses under Section 13.01(a)(i) of the Stock and Asset Purchase Agreement and (C) all Reinsurer Indemnified Parties’ Losses (as such terms are defined in the HLAIC Reinsurance Agreement) under Section 16.02(a)(i) of the HLAIC Reinsurance Agreement, exceeds $41,250,000, after which the Company shall, subject to the immediately succeeding sentence and unless not required under Section 16.2(d) hereof, be obligated 

to indemnify and hold harmless such Indemnified Parties against all Reinsurer Indemnified Parties’ Losses that in the aggregate are in excess of the $41,250,000 in Buyer Indemnified Parties’ Losses referred to above, and (ii) with respect to Losses pursuant to Section 16.2(b)(i), until the aggregate amount of (A) the Company Indemnified Parties’ Losses under Section 16.2(b)(i) hereto and (B) the Company Indemnified Parties’ Losses (as such terms are defined in the HLAIC Reinsurance Agreement),exceeds $12,000,000, after which the Reinsurer shall, subject to the immediately succeeding sentence, be obligated to indemnify and hold harmless such Indemnified Parties against all Losses of such Indemnified Parties that in the aggregate are in excess of such amount.  The cumulative aggregate liability (A) of the Company under Section 16.2(a)(i) of this Agreement and of HLAIC under Section 16.2(a)(i) of the HLAIC Reinsurance Agreement shall in no event exceed $66,000,000, and (B) of the Reinsurer under Section 16.2(b)(i) of this Agreement and Section 16.2(b)(i) of the HLAIC Reinsurance Agreement shall in no event exceed $66,000,000.
(d)    
(i)    The Company shall not be required to indemnify, defend or hold harmless any Reinsurer Indemnified Party against any Losses pursuant to Section 16.2(a)(i) except to the extent that the Company has recovered under the indemnification by Seller (as defined in the Stock and Asset Purchase Agreement) provided pursuant to Section 13.01(a)(i) of the Stock and Asset Purchase Agreement (or recovered from HFSG (as defined in the Stock and Asset Purchase Agreement) pursuant to Section 14.19 of the Stock and Asset Purchase Agreement) in the same or greater amount with respect to the same Losses (“Seller Indemnification Claim”) and in no event shall any indemnification payment made by the Company to the Reinsurer Indemnified Party exceed any indemnification payment received by the Company from the Seller under Section 13.01(a)(i) of the Stock and Asset Purchase Agreement (or recovered from HFSG (as defined in the Stock and Asset Purchase Agreement) pursuant to Section 14.19 of the Stock and Asset Purchase Agreement) with respect to the corresponding Seller Indemnification Claim; provided, however, that if the Buyer Indemnified Parties have recovered $330 million pursuant to the indemnification provided pursuant to Section 13.01(a)(i) of the Stock and Asset Purchase Agreement and the requirements set forth in Section 16.2(c) of this Agreement have been satisfied, the requirements of this sentence shall not preclude an indemnification recovery by the Reinsurer Indemnified Party (subject to the other limitations set forth in this Agreement, including Section 16.2(c); provided, further, that any amounts (A) offset by Seller against indemnification payments due to the Company pursuant to the Stock and Asset Purchase Agreement or (B) recovered from a third Person not affiliated with Seller or the Company pursuant to Section 13.06(b) of the Stock and Asset Purchase Agreement, in each case, shall not be taken into account for purposes of determining the indemnification payment received by the Company from the Seller under Section 13.01(a)(i) of the Stock and Asset Purchase Agreement with respect to the corresponding Seller Indemnification Claim, except in the case of the foregoing clause (A) to the extent that there is a quantifiable, realizable and direct benefit to the Reinsurer and in such event the amount shall be taken into account for purposes of determining such indemnification payment.  
(ii)    If the facts and circumstances that underlie a Seller Indemnification Claim arise out of or relate solely to the Covered Liabilities (a “Covered Liability Seller Indemnification Claim”), the Company shall act as directed by the Reinsurer Indemnified Party 

regarding the pursuit, litigation and resolution of such Covered Liability Seller Indemnification Claim and shall not settle or compromise any such Covered Liability Seller Indemnification Claim except with the prior written consent of the Reinsurer Indemnified Party; provided, however, that the Company shall have no obligations pursuant to this Section 16.2(d)(ii) unless the Reinsurer has promptly paid all of the Company’s costs and expenses, including reasonable attorneys’ fees, arising out of or relating to pursuing such indemnification claim, as such costs and expenses are incurred.  The Company shall permit counsel for the Reinsurer Indemnified Party to attend all significant internal meetings and all meetings with Representatives of plaintiffs, hearings and other proceedings relating to such Covered Liability Seller Indemnification Claim.  The parties hereto shall make mutually available to each other all relevant information in their possession relating to any Covered Liability Seller Indemnification Claim (except to the extent that such action would result in a loss of attorney-client privilege as to any material matter).  For the avoidance of doubt, the parties acknowledge that the Company shall have no liability to a Reinsurer Indemnified Party for any Losses that such Reinsurer Indemnified Party may suffer, sustain or otherwise incur in respect of the outcome or consequences of the Company’s making any such Covered Liability Seller Indemnification Claim on the Reinsurer Indemnified Party’s behalf.
(iii)    If the Company brings on its own behalf, for Losses relating to the business of the Company other than the Covered Liabilities, a claim under the Stock and Asset Purchase Agreement that is based on the same facts and circumstances that underlie a Covered Liability Seller Indemnification Claim (a “Related Seller Indemnification Claim”), the Company shall cooperate in pursuing, and the Reinsurer Indemnified Party shall be entitled to participate fully with the Company in, any such Related Seller Indemnification Claim.  The Reinsurer Indemnified Party shall be entitled to participate in such Related Seller Indemnification Claim with internal counsel or with outside counsel (at its own expense) reasonably acceptable to the Company, and the Company shall permit counsel for the Reinsurer Indemnified Party to attend all significant internal meetings and all meetings with Representatives of plaintiffs, hearings and other proceedings.  Counsel for the Reinsurer Indemnified Party also shall be given a reasonable opportunity to comment upon and make recommendations with respect to all memoranda of law, pleadings and briefs and other documents relating to such Related Seller Indemnification Claim, and the Company and its counsel shall consider in good faith such comments and recommendations of counsel for the Reinsurer Indemnified Party and shall not unreasonably reject any such comments or recommendations after giving due consideration to the relative proportions in which the Company and the Reinsurer are affected by the Related Seller Indemnification Claim and any related Covered Liability Seller Indemnification Claim, respectively, without taking into account any other disputes or matters under the Stock and Asset Purchase Agreement.  The Reinsurer Indemnified Party shall cooperate fully with the Company in the pursuit or settlement of such Related Seller Indemnification Claim.  The parties hereto shall make mutually available to each other all relevant information in their possession relating to such Related Seller Indemnification Claim (except to the extent that such action would result in a loss of attorney-client privilege as to any material matter).  In no event shall the Company be liable for any costs or expenses, including attorneys’ fees, incurred by the Reinsurer Indemnified Party with respect to the matters contemplated in this subsection (iii).
16.3.    Notification of Claims.

(a)    A Person who may be entitled to be indemnified and held harmless under Section 16.2(a) or Section 16.2(b) (the “Indemnified Party”), shall promptly notify the Person providing indemnification (the “Indemnifying Party”) in writing of any pending or threatened claim or demand by a third party that the Indemnified Party has determined has given or could reasonably give rise to such a right under this Agreement (including a pending or threatened claim or demand asserted by a third party against the Indemnified Party, such claim being a “Third-Party Claim”), describing in reasonable detail the facts and circumstances with respect to the subject matter of such claim or demand and, if applicable, the specific representation, warranty or provision of this Agreement that the Indemnified Party alleges to be breached; provided, that the failure to provide such notice shall not release the Indemnifying Party from any of its obligations under this Article XVI except to the extent the Indemnifying Party is actually prejudiced by such failure, it being understood that notices for claims in respect of a breach of a representation, warranty, covenant or agreement must be delivered prior to the expiration of any applicable survival period specified in Section 16.1 for such representation, warranty, covenant or agreement.  Following delivery of a notice of a Third-Party Claim, the Indemnified Party shall deliver to the Indemnifying Party, promptly (and in any event within ten (10) Business Days) after the Indemnified Party’s receipt thereof, copies of all notices and documents (including court papers) received by the Indemnified Party relating to such Third-Party Claim.
(b)    Following receipt of a notice of a Third-Party Claim from an Indemnified Party pursuant to Section 16.3(a), subject to Section 16.3(d), the Indemnifying Party may assume the defense and control of such Third-Party Claim by delivery of written notice to the Indemnified Party within sixty (60) calendar days after receipt of the Indemnified Party’s claims notice pursuant to Section 16.3(a); provided, that the Indemnifying Party shall not be entitled to assume or maintain control of the defense of any Third-Party Claim and shall pay the reasonable fees, costs and expenses of counsel retained by the Indemnified Party to the extent (i) the Third-Party Claim relates to or arises in connection with any criminal proceeding, action, indictment, allegation or investigation against the Indemnified Party or (ii) the Third-Party Claim would reasonably be expected to result in an injunction or equitable relief against the Indemnified Party that would, in each case, have a material effect on the operation of the business of such Indemnified Party or any of its Affiliates.  The assumption of the defense by the Indemnifying Party of any Third-Party Claim shall not require the Indemnifying Party to agree to be liable for any Losses in respect of such Third-Party Claim and shall be without prejudice to any rights or defenses of the Indemnifying Party in respect of whether the Indemnified Party is entitled to indemnification under this Article XVI for any particular Loss or Losses.
(c)    Subject to Section 16.3(d), the Indemnified Party may take any actions reasonably necessary to defend such Third-Party Claim prior to the time that it receives a notice from the Indemnifying Party as contemplated by Section 16.3(b).  If the Indemnifying Party assumes the defense of any Third-Party Claim in accordance with Section 16.3(b), the Indemnifying Party shall allow the Indemnified Party a reasonable opportunity to participate in the defense of such Third-Party Claim with its own counsel and at its own expense; provided, however, that notwithstanding the foregoing, the Indemnifying Party shall bear the reasonable fees, costs and expenses of one (1) such separate counsel if (i) the Indemnifying Party and the Indemnified Party are both named parties to the Action and the Indemnified Party shall have reasonably determined 

in good faith that the representation of both parties by the same counsel would be inappropriate due to actual differing interests between them or that there may be defenses or counterclaims available to the Indemnified Party that are inconsistent with those available to the Indemnified Party or (ii) the Indemnifying Party shall have authorized the Indemnified Party to employ separate counsel at the Indemnifying Party’s expense.  If the Indemnifying Party assumes the defense of any Third-Party Claim, the Indemnifying Party shall not, for so long as it diligently conducts such defense, be liable to the Indemnified Party for legal or other expenses subsequently incurred by the Indemnified Party in connection with the defense thereof other than provided in this Section 16.3(c).  The Indemnifying Party shall be liable for the reasonable fees, costs and expenses of counsel employed by the Indemnified Party for any period during which Indemnifying Party has not assumed or is not diligently conducting the defense of a Third-Party Claim for which the Indemnified Party is entitled to indemnification hereunder.  The Company or the Reinsurer, as the case may be, shall, and shall cause each of its Affiliates and Representatives to, reasonably cooperate with the Indemnifying Party in the defense of any Third-Party Claim.  Without limiting the generality of the foregoing, from and after the delivery of a notice of a claim for indemnification with respect to a Third-Party Claim, at the reasonable request of the Indemnifying Party, each Indemnified Party shall grant the Indemnifying Party and its Representatives reasonable  access, during normal business hours, to the books, records, personnel and properties of the Indemnified Party to the extent reasonably related to such Third-Party Claim, at no cost to the Indemnifying Party (other than for reasonable out-of-pocket expenses of the Indemnified Parties).  The Indemnifying Party shall be authorized to consent to a settlement of, or the entry of any judgment arising from, any Third-Party Claim, without the consent of any Indemnified Party; provided that (A) such settlement provides only for the payment of monetary damages (and does not impose any injunctive relief or otherwise impose any conditions or restrictions on the applicable Indemnified Party or any of its Affiliates or Representatives) and does not involve any finding or admission of any violation of Applicable Law or admission of any wrongdoing or any violation of the rights of any Person and does not include a statement or admission of fault, culpability or failure to act by or on the part of  any Indemnified Party or any of its Affiliates or Representatives, (B) the Indemnifying Party pays or causes to be paid all amounts arising out of such settlement or judgment concurrently with the effectiveness of such settlement or judgment (other than as contemplated by Section 16.2(c)), and (C) the Indemnifying Party obtains, as a condition of any settlement, entry of judgment or other resolution, a complete and unconditional release of each Indemnified Party from any and all Liabilities in respect of such Third-Party Claim.  If the Indemnifying Party elects not to defend the Indemnified Party against a Third-Party Claim to which it is entitled to indemnification hereunder, whether by not giving the Indemnified Party timely notice of its desire to so defend or otherwise, then the Indemnified Party shall have the right but not the obligation to assume its own defense, but without in any way waiving or otherwise affecting the Indemnified Party’s rights to indemnification pursuant to this Agreement, and the Indemnifying Party shall bear all fees, costs and expenses of one such counsel engaged by the Indemnified Party for Third-Party Claims for which such Indemnified Party was entitled to indemnification hereunder. 
(a)    No Indemnifying Party shall have any liability under this Article XVI for any Losses arising out of or in connection with any Third-Party Claim that is settled or compromised by an Indemnified Party without the prior consent of such Indemnifying Party (such consent not to be unreasonably withheld, conditioned or delayed).

(b)    If an Indemnified Party wishes to make a claim under this Article XVI that does not involve a Third-Party Claim, the Indemnified Party shall give written notice to the Indemnifying Party setting forth (i) a reasonably detailed description of the claim, (ii) a good faith estimate of the amount of the claim (to the extent ascertainable) and (iii) the specific representation, warranty or provision of this Agreement that the Indemnified Party alleges to be breached, and such notice shall be accompanied by copies of all available documentation that may be necessary or appropriate for the purposes of enabling the Indemnifying Party to be informed and to take any and all appropriate decisions and actions in respect of the matter and Loss that is the subject of the claim; provided, that the failure to provide such notice on a timely basis shall not release the Indemnifying Party from any of its obligations under this Article XVI except to the extent the Indemnifying Party is actually prejudiced by such failure, it being understood that notices for claims in respect of a breach of a representation, warranty, covenant or agreement must be delivered prior to the expiration of any applicable survival period specified in Section 16.1 for such representation, warranty, covenant or agreement.
16.4.    Payment.  Except as contemplated by Section 3.7, in the event an Action under this Article XVI shall have been finally determined, the amount of such final determination shall be paid to the Indemnified Party on demand in immediately available funds.  An Action, and the liability for and amount of damages therefor, shall be deemed to be “finally determined” for purposes of this Article XVI when the parties to such Action have so determined by mutual agreement or, if disputed, when a final nonappealable Governmental Order shall have been entered.
16.5.    No Duplication; Exclusive Remedies.
(a)    Any liability for indemnification hereunder and under any other Transaction Document shall be determined without duplication of recovery by reason of the same Loss.  
(b)    Other than in the case of fraud or intentional misconduct by the Company or the Reinsurer or any of their respective Affiliates, the indemnification provisions of this Article XVI shall be the sole and exclusive remedies of the Company and the Reinsurer, respectively, for any breach of or inaccuracy in any representations or warranties in this Agreement and any breach or failure to perform or comply with any of the covenants or agreements contained in this Agreement.  In furtherance of the foregoing, each of the Company, on behalf of itself and each other Company Indemnified Party, and the Reinsurer, on behalf of itself and each other Reinsurer Indemnified Party, hereby waives, from and after the Closing Date, to the fullest extent permitted under Applicable Law, any and all rights, claims and causes of action (other than claims of, or causes of action arising from, fraud or intentional misconduct) it may have against the Company or any of its Affiliates or Representatives and the Reinsurer or any of its Affiliates or Representatives, as the case may be, arising under or based upon this Agreement, any certificate or instrument delivered in connection herewith (whether under this Agreement or arising under common law or any other Applicable Law), except pursuant to: (i) the indemnification provisions set forth in this Article XVI or (ii) as provided under (A) the provisions hereof providing for equitable remedies or (B) the provisions of any other Transaction Document.

16.6.    Additional Indemnification Provisions.
(a)    With respect to each indemnification obligation in this Agreement (i) each such obligation shall be calculated on an After-Tax Basis and (ii) all Losses shall be net of any actual non-refundable recoveries to the Indemnified Party described in Section 16.6(b).
(b)    In any case where an Indemnified Party recovers from a third Person not affiliated with such Indemnified Party, including any third-party insurer, any amount in respect of any Loss paid by an Indemnifying Party pursuant to this Article XVI, such Indemnified Party shall promptly pay over to the Indemnifying Party the amount so recovered (net of any Expenses incurred by such Indemnified Party in procuring such recovery, which Expenses shall not exceed the amount so recovered), and, if applicable, net of such Indemnified Party’s (i) retroactive or prospective premium adjustments associated with such recovery from a third-party insurer and (ii) actual increase(s) in such Person’s and its Affiliates’ insurance premium that is reasonably attributable to such Loss (collectively, the “Premium Increase”), but not in excess of the sum of (i) any amount previously paid by the Indemnifying Party to or on behalf of the Indemnified Party in respect of such claim and (ii) any amount expended by the Indemnifying Party in pursuing or defending any claim arising out of such matter.
(c)    If any portion of Losses to be paid by the Indemnifying Party pursuant to this Article XVI would reasonably be expected to be recoverable from a third party not affiliated with the relevant Indemnified Party (including under any applicable third-party insurance coverage) based on the underlying claim or demand asserted against such Indemnifying Party, then the Indemnified Party shall promptly after becoming aware of such fact give notice thereof to the Indemnifying Party and, upon the request of the Indemnifying Party shall use reasonable best efforts to collect the maximum amount recoverable from such third party, in which event the Indemnifying Party shall reimburse the Indemnified Party for (i) all reasonable costs and expenses incurred in connection with such collection (which costs and expenses of collection shall not exceed the amount recoverable from such third party) and (ii) any related Premium Increase.  If any portion of Losses actually paid by the Indemnifying Party pursuant to this Article XVI could have been recovered from a third party not affiliated with the relevant Indemnified Party based on the underlying claim or demand asserted against such Indemnifying Party, then the Indemnified Party shall transfer, to the extent transferable, such of its rights to proceed against such third party as are necessary to permit the Indemnifying Party to recover from such third party any amount actually paid by the Indemnifying Party pursuant to this Article XVI, net of any related Premium Increase for which the Indemnifying Party has not already reimbursed the Indemnified Party pursuant to the immediately preceding sentence.
(d)    For purposes of determining whether a breach of any representation or warranty made in this Agreement has occurred, and for calculating the amount of any Loss under this Article XVI, each representation and warranty contained in this Agreement shall be read without regard to any “materiality,” “Company Material Adverse Effect,” “material adverse effect on the Reinsurer” or other similar qualification contained in or otherwise applicable to such representation or warranty, other than the representations and warranties in Section 15.1(j)(v) and Section 15.1(m)(ii), in each case to the extent relating to the Covered Liabilities.

(c)    In the event that a party hereto: (i) consolidates with or amalgamates, combines or merges into any other Person and is not the continuing or surviving corporation or entity of such consolidation, amalgamation, combination or merger; or (ii) sells, transfers, pledges or otherwise disposes of all or substantially all of its properties, assets (including portfolio investments) or equity of its subsidiaries (whether in one transaction or a series of related transactions) to one or more Persons, then, and in each such case, proper provision shall be made prior to the consummation of any such transaction so that each such Person shall assume by a written instrument entered into for the benefit of, and enforceable by, the other party hereto the obligations of such party set forth in this Article XVI.
(d)    The waiver of any condition based on the accuracy of any representation or warranty set forth in this Agreement, or on the performance of or compliance with any covenant, agreement, condition and obligation set forth in this Agreement, shall not affect the right to indemnification or other remedy based on such representations, warranties, covenants, agreements, conditions and obligations.
16.7.    Reserves.  Notwithstanding anything to the contrary in this Agreement or the other Transaction Documents, the Company makes no representation or warranty with respect to, and nothing contained in this Agreement, any other Transaction Documents, any Retrocession Transaction Documents, or in any other agreement, document or instrument to be delivered in connection with the transactions contemplated hereby or thereby is intended or shall be construed to be a representation or warranty (express or implied) of the Company, for any purpose of this Agreement, the other Transaction Documents, any Retrocession Transaction Documents, or any other agreement, document or instrument to be delivered in connection with the transactions contemplated hereby or thereby, with respect to (a) the adequacy or sufficiency of the Reserves of the Company, (b) the future profitability of the Business Covered or (c) the effect of the adequacy or sufficiency of the Reserves of the Company on any “line item” or asset, Liability or equity amount. Furthermore, no fact, condition, circumstance or event relating to or affecting the development of the Reserves of the Company may be used, directly or indirectly, to demonstrate or support the breach of any representation, warranty, covenant or agreement contained in this Agreement, any Transaction Document, any Retrocession Transaction Documents, or any other agreement, document or instrument to be delivered in connection with the transactions contemplated hereby or thereby.
ARTICLE XVII     
 
REINSURANCE CREDIT
17.1.    Reinsurance Credit.
(a)    The parties intend that the Company shall be able to fully recognize the reinsurance ceded hereunder in its statutory financial statements.  If a Reinsurance Credit Event occurs, the Reinsurer shall use commercially reasonable efforts to novate this Agreement to another affiliated insurer with an RBC Ratio of not less than [REDACTED] (after taking into account the capital necessary for such transaction) that is licensed in the domiciliary state of the Company 

(provided that such domiciliary state is a jurisdiction with substantially similar requirements as the Company’s domiciliary state as of the Closing Date) and, if that cannot be accomplished with the use of commercially reasonable efforts, the Reinsurer shall enter into a statutory trust agreement, deliver letters of credit or provide any other form of security acceptable to the applicable Governmental Authorities of all jurisdictions to which the Company is subject, or take any other action, in each case, at the Reinsurer’s expense, the effect of which shall enable the Company to receive full statutory financial statement credit for reinsurance ceded to the Reinsurer under this Agreement.
(b)    The statutory trust agreement to be used pursuant to clause (a) shall be negotiated in good faith and mutually agreed to by the parties hereto and shall comply with all Applicable Laws relating to credit for reinsurance in the Company’s domiciliary state.  If either party has reason to believe that a Reinsurance Credit Event may occur, such party shall immediately notify the other party and, no later than two (2) Business Days thereafter, the parties shall commence negotiation of such trust agreement.  If the statutory trust agreement is to be used pursuant to the foregoing clause (a) to provide reinsurance credit, the statutory trust agreement shall be executed and delivered as soon as practicable, but in any event no later than is necessary to ensure the that the Company will at all times obtain credit for reinsurance. 
(c)    It is understood and agreed that any term or condition required by Applicable Law to be included in this Agreement for the Company to receive full statutory financial statement credit for the reinsurance provided by this Agreement shall be deemed to be incorporated in this Agreement by reference.  Furthermore, the Reinsurer and the Company agree to act in good faith to amend this Agreement and other documents to the extent necessary or appropriate for consistency with Applicable Law in order to provide the Company with such full statutory financial statement credit.
ARTICLE XVIII     
 
MISCELLANEOUS PROVISIONS
18.1.    Headings, Schedules and Exhibits.  Headings used herein are not a part of this Agreement and shall not affect the terms hereof.  The attached Schedules and Exhibits are a part of this Agreement.
18.2.    Notices.  Unless otherwise provided in this Agreement, all notices, directions, requests, demands, acknowledgments and other communications required or permitted to be given or made under the terms hereof shall be in writing and shall be deemed to have been duly given or made (a)(i) when delivered personally, (ii) when made or given by facsimile or electronic media, provided that, in the case of facsimile and electronic mail notifications, such notifications are confirmed by telephone or (iii) in the case of mail delivery, upon the expiration of three (3) calendar days after any such notice, direction, request, demand, acknowledgment or other communication shall have been deposited in the United States mail for transmission by first class mail, postage prepaid, or upon receipt thereof, whichever shall first occur and (b) when addressed as follows:

If to the Company:    

Hartford Life Insurance Company
1 Griffin Road North
Windsor, CT 06095
Facsimile: 860-624-0444
Attention: Vice President, Reinsurance

With a copy to:

Hartford Life Insurance Company
1 Griffin Road North
Windsor, CT 06095
Facsimile: 860-624-0441
Attention: General Counsel

If to the Reinsurer:    

Commonwealth Annuity and Life Insurance Company
20 Guest Street 
Brighton, MA  02135
Facsimile:  (508) 460-2401
Attention:  President and CEO

With a copy to:

Commonwealth Annuity and Life Insurance Company
20 Guest Street 
Brighton, MA  02135
Facsimile: (508) 460-2401
Attention:  General Counsel and Secretary

or to such other address or to such other Person as either party may have last designated by notice to the other party.
18.3.    Successors and Assigns.  This Agreement shall be binding upon and inure to the benefit of the parties hereto and their respective successors, permitted assigns and legal Representatives.  Neither this Agreement, nor any right or obligation hereunder, may be assigned by any party without the prior written consent of the other party hereto.  Any assignment in violation of this Section 18.3 shall be void and shall have no force and effect; provided, however, that nothing in this Agreement shall be construed to prohibit the Reinsurer from retroceding all or any portion of the Reinsured Contracts reinsured hereunder to any retrocessionaire or otherwise hedging its obligations hereunder without the Company’s consent.

18.4.    Execution in Counterpart.  This Agreement may be executed by the parties hereto in any number of counterparts, and by each of the parties hereto in separate counterparts, each of which counterparts, when so executed and delivered, shall be deemed to be an original, but all such counterparts shall together constitute but one and the same instrument.
18.5.    Currency.  Whenever the word “Dollars” or the “$” sign appear in this Agreement, they shall be construed to mean United States Dollars, and all transactions under this Agreement shall be in United States Dollars.
18.6.    Transaction Costs.  Except as otherwise provided herein, each party shall bear its own costs relating to preparing and negotiating this Agreement and the transactions contemplated hereby.
18.7.    Amendments.  This Agreement may not be changed, altered or modified unless the same shall be in writing executed by the Company and the Reinsurer.
18.8.    Submission to Jurisdiction.
(a)    Except for matters as to which a dispute resolution process is specified in this Agreement or as otherwise contemplated under Section 8.3, each of the parties hereto irrevocably and unconditionally submits for itself and its property in any Action arising out of or relating to this Agreement, the transactions contemplated by this Agreement, the formation, breach, termination or validity of this Agreement or the recognition and enforcement of any judgment in respect of this Agreement, to the exclusive jurisdiction of the courts of the State of New York sitting in the County of New York, the federal courts for the Southern District of New York, and appellate courts having jurisdiction of appeals from any of the foregoing, and all claims in respect of any such Action shall be heard and determined in such New York courts or, to the extent permitted by Applicable Law, in such federal court.
(b)    Any such Action may and shall be brought in such courts and each of the parties irrevocably and unconditionally waives any objection that it may now or hereafter have to the venue or jurisdiction of any such Action in any such court or that such Action was brought in an inconvenient court and shall not plead or claim the same.
(c)    Service of process in any Action may be effected by mailing a copy of such process by registered or certified mail (or any substantially similar form of mail), postage prepaid, to such party at its address as provided in Section 18.2.
(d)    Nothing in this Agreement shall affect the right to effect service of process in any other manner permitted by the laws of the State of New York.
18.9.    Governing Law.  This Agreement will be construed, performed and enforced in accordance with the laws of the State of Connecticut without giving effect to its principles or rules of conflict of laws thereof to the extent such principles or rules would require or permit the application of the laws of another jurisdiction.

18.10.    Waiver of Jury Trial.  EACH PARTY HERETO IRREVOCABLY AND UNCONDITIONALLY WAIVES ANY AND ALL RIGHT TO TRIAL BY JURY IN ANY ACTION (WHETHER BASED ON CONTRACT, TORT OR OTHERWISE) ARISING OUT OF OR RELATING TO THE TRANSACTIONS CONTEMPLATED BY THIS AGREEMENT OR ANY OTHER TRANSACTION AGREEMENTS, OR ITS PERFORMANCE UNDER OR THE ENFORCEMENT OF THIS AGREEMENT OR ANY OTHER TRANSACTION AGREEMENT.
18.11.    Entire Agreement; Severability.
(a)     This Agreement constitutes the entire agreement between the parties hereto relating to the subject matter hereof and supersedes all prior and contemporaneous agreements, understandings, statements, representations and warranties, negotiations and discussions, whether oral or written, of the parties and there are no general or specific warranties, representations or other agreements by or among the parties in connection with the entering into of this Agreement or the subject matter hereof except as specifically set forth or contemplated herein.
(b)    If any provision of this Agreement is held to be void or unenforceable, in whole or in part, and if the rights or obligations of the Company or the Reinsurer under this Agreement will not be materially and adversely affected thereby, (i) such holding shall not affect the validity and enforceability of the remainder of this Agreement, including any other provision, paragraph or subparagraph and (ii) the parties agree to attempt in good faith to reform such void or unenforceable provision to the extent necessary to render such provision enforceable and to carry out its original intent.
18.12.    No Waiver; Preservation of Remedies.  No consent or waiver, express or implied, by any party to or of any breach or default by any other party in the performance by such other party of its obligations hereunder shall be deemed or construed to be a consent or waiver to or of any other breach or default in the performance of obligations hereunder by such other party hereunder.  Failure on the part of any party to complain of any act or failure to act of any other party or to declare any other party in default, irrespective of how long such failure continues, shall not constitute a waiver by such first party of any of its rights hereunder.  The rights and remedies provided are cumulative and are not exclusive of any rights or remedies that any party may otherwise have at law or equity.
18.13.    Third Party Beneficiary.  Nothing in this Agreement will confer any rights upon any Person that is not a party or a successor or permitted assignee of a party to this Agreement.
18.14.    Interpretation.  Wherever the words “include,” “includes” or “including” are used in this Agreement, they shall be deemed to be followed by the words “without limitation.”  
18.15.    Survival.  Article XII, Article XIV and Article XVII shall survive the termination of this Agreement.

IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be executed by their duly authorized Representatives on the date first stated above.
HARTFORD LIFE INSURANCE COMPANY 
 
 
By /s/ John B. Brady           
    Name: John B. Brady   
    Title:   Chief Actuary 
 
 
 
 
 
COMMONWEALTH ANNUITY AND LIFE INSURANCE COMPANY 
 
 
By /s/ Gilles Dellaert         
Name:  Gilles Dellaert 
Title:    Chief Investment Officer 

SCHEDULE 1.1(a)
INTERIM PERIOD INTEREST1 
An amount as set forth below. Values for “1b) Closing Date statutory reserves + IMR” to be populated by the Company, where:
		
	•
	“statutory reserves” means the gross statutory reserves that are required to be held by the Company for purposes of its statutory financial statements with respect to the Reinsured Contracts, as determined in accordance with then applicable SAP

		
	•
	“IMR” means the interest maintenance reserve that was created on or before the Closing Date and amortized and determined in accordance with SAP held by the Company with respect to the Reinsured Contracts

	
																	
	($ in millions)
	Fixed Deferred Annuities
	Payout Annuities
	Period Certain Structured Settlements
	Standard Lives Structured Settlements
	Total
	Variable Payout Separate Account Contracts

	1a) Effective Date statutory reserves 
      + IMR
	$
	5,369
	

	$
	1,101
	

	$
	2,323
	

	$
	1,701
	

	$
	10,494
	

	$179

	1b) Closing Date statutory reserves 
      + IMR
	$
	4,677
	

	$
	1,066
	

	$
	776
	

	$
	469
	

	$
	6,989
	

	 

	1)    Average reserves: (1a + 1b) / 2
	$
	5,023
	

	$
	1,084
	

	$
	1,549
	

	$
	1,085
	

	$
	8,741
	

	 

	 
	 
	 
	 
	 
	 
	87

	 
	 
	 
	 
	 
	 
	 

	2)    Book yield of assets in 
Annex A-1
	2.91
	%
	5.21
	%
	5.23
	%
	5.23
	%
	 
	 

	 
	 
	 
	 
	 
	 
	 

	3)    Annual Interest on Reserves (100% Quota Share) (1 x 2)
	$
	146
	

	$56
	$
	81
	

	$
	57
	

	$
	340
	

	 

	x Years from Effective Date to Closing Date2
	207
	

	80
	

	115
	

	80
	

	482
	

	 

	x Reinsurer’s Quota Share
	85
	%
	85
	%
	85
	%
	75
	%
	 
	 

	4)    Reinsurer’s Quota Share of Interest on Reserves
	$
	176
	

	$68
	$98
	$
	60
	

	$
	402
	

	 

	5)    Reinsurer’s Quota Share of Interest on Surplus
	$
	0
	

	$
	0
	

	$
	0
	

	$
	0
	

	$
	0
	

	 

	6)    Reinsurer’s Quota Share of Interim Period Interest (4 + 5)
	$
	176
	

	$68
	$98
	

	$60
	

	$
	402
	

	 

1 Schedule to be trued-up post-Closing to reflect actual Closing Date Statutory Reserves.
2 Years as computed on the basis of (A) a 360 day year composed of twelve (12) 30 day months and (b) no compounding.

SCHEDULE 1.1(b)
KNOWLEDGE OF THE COMPANY
1.Christopher Abreu
2.Christopher Conner
3.Robert Cornell
4.Diane Krajewski
5.Lisa Proch
6.Kirsten Ryan 
7.Peter Sannizzaro 
8.Robert Siracusa
9.Jennifer Whaley
10.John Brady
11.Glenn Gazdik
12.Andrew Diaz-Matos
13.James Cubanski

SCHEDULE A
REINSURED CONTRACTS
Fixed Deferred Annuity Contracts – refer to excel file titled “Schedule A – HLIC CRC.xlsx”

Fixed Payout Annuity Contracts – refer to excel file titled “Schedule A - HLIC Fixed Payouts.xlsx”

Period Certain Structured Settlement Contracts – refer to excel file titled “Schedule A – HLIC Period Certain SS.xlsx”

Standard Lives Structured Settlement Contracts – refer to excel file titled “Schedule A – HLIC Standard SS.xlsx”

Variable Payout Separate Account Contracts – refer to excel file titled “Schedule A - HLIC Variable Payouts.xlsx”

SCHEDULE B
AMORTIZATION OF CEDING COMMISSION
The Unamortized Ceding Commission shall be: (i) the Ceding Commission times (ii) the ratio of (x) to (y), where (x) is the NAIC Reserves attributable to the Reinsured Contracts held by the Company as of the date of determination (calculated on a gross basis and without giving effect to the Reinsurer’s Quota Share ) and (y) is the NAIC Reserves attributable to the Reinsured Contracts held by the Company at the Effective Date (calculated on a gross basis and without giving effect to the Reinsurer’s Quota Share).

SCHEDULE C
RECAPTURE PAYMENT FORMULA

The Recapture Payment shall be: (i) the Monthly Settlement (which shall be expressed as a negative in this calculation if due to the Reinsurer) for the Monthly Accounting Period ending on the Termination Date; plus (ii) any other amounts that are due and unpaid by the Reinsurer; plus (iii) interest due on amounts overdue by the Reinsurer; plus (iv) the Reinsurer’s Quota Share of the NAIC Reserves attributable to the CRC Policies; plus (v) the Reinsurer’s Quota Share of the NAIC Reserves attributable to the Reinsured Contracts other than the CRC Policies; plus (vi) the Interest Maintenance Reserve attributable to the Reinsured Risks as of the Recapture Effective Time; minus (vii) amounts withdrawn from the Trust Account that should be returned to the Reinsurer pursuant to the terms of the Trust Agreement; minus (viii) any other amounts that are due and unpaid by the Company; minus (ix) interest due on amounts overdue by the Company; minus (x) the Unamortized Ceding Commission as of the Recapture Effective Time.   [REDACTED]

SCHEDULE D
TERMINAL ACCOUNTING SETTLEMENT REPORT
	
		
	1.    Monthly Settlement for the Monthly Accounting Period ending on the Termination Date
	 

	2.    Any other amounts that are due and unpaid by the Reinsurer
	 

	3.    Interest due on amounts overdue by the Reinsurer
	 

	4.    Reinsurer’s Quota Share of NAIC Reserves attributable to CRC Policies1
	 

	5.    Reinsurer’s Quota Share of NAIC Reserves attributable to all other Reinsured Contracts1
	 

	6.    Interest Maintenance Reserve attributable to the Reinsured Risks as of the Recapture Effective Time
	 

	7.    Amount withdrawn from the Trust Account that should be returned to the Reinsurer
	 

	8.    Any other amounts that are due and unpaid by the Company
	 

	9.    Interest due on amounts overdue by the Company
	 

	10.    Unamortized Ceding Commission as of the Recapture Effective Time
	 

	Total* = 1 + 2 + 3 + 4 + 5 + 6 - 7 - 8 - 9 - 10

	 

*  [REDACTED]

1Based on the amount that the Company will be required to hold under Applicable Law immediately after the Recapture Effective Time

SCHEDULE E
EXPENSE ALLOWANCE
The monthly expense allowance shall equal A divided by B, where:
		
	A.
	is the sum of (i) and (ii), where:

(i)    is $50.00 per reinsured fixed deferred annuity contract in force as of the first day of the applicable Monthly Accounting Period, which per contract amount shall be increased on each anniversary of the Effective Date by an annual rate equal to 2.0%; and
(ii)     is an amount equal to 0.15% of the NAIC Reserves held by the Reinsurer with respect to the reinsured variable payout annuity contracts, fixed payout annuity contracts, immediate annuity contracts and structured settlement contracts as of the first day of the applicable Monthly Accounting Period.
		
	B.
	is twelve (12).

SCHEDULE F-1
MONTHLY REINSURANCE SETTLEMENT REPORT
[see attached] 

Monthly Settlement Statement
HLIC Summary
From Ceding Company
Assuming Company - Commonwealth Annuity and Life Insurance Company

SCHEDULE F-2
SERIATIM DATA REPORT
 See the following reports listed on Schedule H of this Agreement: “Seriatim Valuation Feeds (excl. Reserves)”, “Seriatim Transaction File (CRC)”, “Seriatim Transaction File (Payouts/SS)”  and “Seriatim Valuation Feeds (incl. Reserves)”.

SCHEDULE F-3
STATEMENT OF NAIC RESERVES

SCHEDULE G
ANNUAL FINANCIAL REPORTS

	
				
	Report
	Frequency
	Timing
	Sample

	Blue Book Note 27 Support
	Annual
	Calendar Day 40
	See attached

	Exhibits 5 and 7 Support
	Annual
	Calendar Day 40
	See attached

	Exhibit of Annuities & Life Insurance Support
	Annual
	Calendar Day 40
	See attached

	Page 7 Support
	Annual
	Calendar Day 40
	See attached

SCHEDULE H
ONGOING REPORTS
Reports from the Company:
	
				
	Report
	Frequency
	Timing
	Sample

	Daily Cash Flow Report (CRC Only)
- Report will not include daily commission and expense allowances.
- Report will include any ongoing premium and withdrawals, but those withdrawals may not be split by the various categories (partial, full, annuitization, etc.)  That split will be available in the monthly report.
	Daily
	Next Business Day
	Refer to excel file
titled “Seriatim Transaction File_CRC.xlsx”

	Monthly Cash Flow Report (Payouts & SS)
	Monthly
	Business Day 5
	Refer to excel file
titled “Monthly
Cashflow Report
(Payouts & SS).xlsx”

	Seriatim Valuation Feeds (excl. Reserves)
	Monthly
	Business Day 2
	Refer to the following
excel files titled:

“Seriatim Valuation
Feed (excl
Reserves)_CRC.xlsx”

“Seriatim Valuation
Feed (excl
Reserves)_Fixed
Payout.xlsx”

“Seriatim Valuation
Feed (excl
Reserves)_SPIA.xlsx”

“Seriatim Valuation
Feed (excl
Reserves)_Structured
Settlements.xlsx”

“Seriatim Valuation
Feed (excl
Reserves)_Variable
Payout.xlsx”

	
				
	Report
	Frequency
	Timing
	Sample

	AV Rollforward
	Monthly
	Business Day 6
	Refer to excel file
titled “AV
Rollforward (CRC
Only).xlsx”

	Seriatim Transaction File (CRC)
	Monthly
	Business Day 2
	Refer to excel file titled “Seriatim Transaction File_CRC.xlsx”

	Seriatim Transaction File (Payouts/SS)
	Monthly
	Business Day 4
	Refer to excel file titled “Seriatim Transaction
File_Payouts & SS.xlsx”

	Seriatim Valuation Feeds (incl. Reserves)
	Monthly
	Business Day 4
	Refer to the following
excel files titled:

“Seriatim Valuation
Feed (incl
Reserves)_CRC.xlsx”

“Seriatim Valuation
Feed (incl
Reserves)_Fixed
Payout.xlsx”

“Seriatim Valuation
Feed (incl
Reserves)_SPIA.xlsx”

“Seriatim Valuation
Feed (incl
Reserves)_Structured
Settlements.xlsx”

“Seriatim Valuation
Feed (incl
Reserves)_Variable
Payout.xlsx”

	Tax Reserves
	Quarterly
	Business Day 7
	Refer to excel file
titled “Tax
Reserves.xlsx”

Reports from the Reinsurer:
	
				
	Report
	Frequency
	Timing
	Sample

	Quarterly RBC Estimate Report
	Quarterly
(Q1 – Q3)
	Calendar Day 45
	See attached

	
				
	Year-end RBC Report
	Annual
	Calendar Day 60
	See attached

SCHEDULE I
INTEREST MAINTENANCE RESERVE

Existing Interest Maintenance Reserve as of the Effective Date, as relates to:

		
	•
	CRC Policies: $0

		
	•
	Period certain structured settlement Reinsured Contracts: $43,500,000

		
	•
	Life contingent structured settlement Reinsured Contracts: $31,800,000

SCHEDULE J
COMMISSIONS
A total amount equal to A plus B, where:
		
	A.
	is the product of (i) and (ii), where:

(i)    is the percentage shown in the table below, as applicable to each respective contract that entered a new renewal period during the Monthly Accounting Period, based on the product, renewal guarantee period duration and age of the contract holder. For the avoidance of doubt, any products not listed in the table below are deemed to have a renewal commission percentage of 0.000%
	
					
	Renewal Commission (% of AV)
	Attained Age

	Product
	Guarantee Years
	0-80
	81-85
	86+

	CRC Select
	1
2+
	0.500%
2.000
	0.500%
1.000
	0.500%
0.500

	CRC Select II / III
	1
3
4
5+
	0.500%
1.000
1.500
2.000
	0.250%
0.500
0.750
1.000
	0.500%
0.500
0.500
0.500

	Saver, Saver Generations
	1
3
5+
	0.750%
1.500
3.000
	0.750%
1.500
3.000
	0.750%
1.500
3.000

	Saver Max
	7
	3.250%
	1.630%
	1.630%

	Saver Certainty
	1
	1.000%
	0.500%
	0.500%

(ii)    is the amount of Account Value with respect to contracts that entered a new renewal period during the Monthly Accounting Period
		
	B.
	is an amount equal to 0.40% of Separate Account value with respect to the reinsured variable payout annuity contracts as of the first day of the Monthly Accounting Period, divided by twelve (12). 

EXHIBIT 1
TRUST AGREEMENT
[see attached]

THE USE OF THE FOLLOWING NOTATION IN THIS EXHIBIT INDICATES THAT THE CONFIDENTIAL PORTION HAS BEEN OMITTED PURSUANT TO A REQUEST FOR CONFIDENTIAL TREATMENT AND THE OMITTED MATERIAL HAS BEEN FILED SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION: [REDACTED]

EXHIBIT 1
TRUST AGREEMENT
This TRUST AGREEMENT, dated June 1, 2018 (this “Trust Agreement”), among Commonwealth Annuity and Life Insurance Company, an insurance company organized under the Laws of the State of Massachusetts (the “Grantor”), Hartford Life Insurance Company, a life insurance company organized under the laws of the State of Connecticut (the “Beneficiary”), and The Bank of New York Mellon, a New York banking corporation (the “Trustee”) (the Grantor, the Beneficiary and the Trustee are hereinafter each sometimes referred to individually as a “Party” and collectively as the “Parties”).
WITNESSETH:
WHEREAS, pursuant to an Annuity Reinsurance Agreement, dated as of June 1, 2018, by and between the Beneficiary and the Grantor, the Beneficiary is ceding to the Grantor, and the Grantor is reinsuring specified fixed immediate and deferred annuity contracts, variable payout separate account annuity contracts and structured settlement annuity contracts of the Beneficiary (the “Reinsurance Agreement”) pursuant to the terms and conditions thereof;
WHEREAS, the Grantor desires to transfer, or cause to be transferred, to the Trustee for deposit to a trust account (including any sub-accounts thereunder, the “Trust Account”), pursuant to Article IX of the Reinsurance Agreement, certain assets as security for the payment and performance by the Grantor of its obligations under the Reinsurance Agreement;
WHEREAS, the Trustee has agreed to act as trustee hereunder, and to hold such assets in trust in the Trust Account for the sole use and benefit of the Beneficiary for such purposes in accordance with the terms and conditions of this Trust Agreement; and
WHEREAS, this Trust Agreement is made for the sole use and benefit of the Beneficiary and for the purpose of setting forth the rights, duties and powers of the Trustee with respect to the Trust Account.
NOW, THEREFORE, for and in consideration of the premises and for other good and valuable consideration, the receipt of which is hereby acknowledged, the Parties hereby agree as follows:
Section 1.1    Deposit of Assets to the Trust Account.
(a)The Grantor hereby establishes the Trust Account with the Trustee for the sole use and benefit of the Beneficiary, under the terms set forth herein. The Beneficiary is required to deposit 

into the Trust Account as an initial deposit the assets listed on Schedule I attached hereto, having an aggregate fair market value satisfying the requirements under Sections 4.3 and 4.4 of the Reinsurance Agreement, as jointly confirmed in writing by the Grantor and the Beneficiary to the Trustee.  The Trustee shall administer the Trust Account in its name as trustee for the sole benefit of the Beneficiary. The Trust Account shall be subject to withdrawal by the Beneficiary and the Grantor solely as provided herein. The Trustee hereby accepts the Trust Account upon the terms set forth in this Trust Agreement. 
(b)    The Grantor shall transfer, or shall cause to be transferred, to the Trustee, for deposit to the Trust Account, such assets as may be required from time to time pursuant to the Reinsurance Agreement including any overcollateralization amount contemplated thereby (all such assets are herein referred to individually as an “Asset” and collectively as the “Assets”). The Trustee is authorized and shall have power to receive the Assets from the Grantor and to hold, invest, reinvest and dispose of the same for the uses and purposes of and according to the provisions herein set forth. All Assets shall be maintained by the Trustee in the Trust Account separate and distinct from all other assets on the books and records of the Trustee and in accordance with the terms of this Trust Agreement. The Assets shall consist only of Eligible Investments (as hereinafter defined). All Eligible Investments and other Assets credited to the Trust Account shall be registered in the name of the Trustee or its nominee (except for Commercial Mortgage Loans or participations therein) and shall be held by the Trustee in its capacity as trustee and securities intermediary hereunder. No such Eligible Investment or other Asset credited to the Trust Account shall be registered in the name of the Grantor, payable to the order of the Grantor or endorsed to the Grantor, it being agreed and understood that title to all Eligible Investments and other Assets credited to the Trust Account must be held by the Trustee. If any Asset is no longer an Eligible Investment or becomes impaired, the Grantor shall promptly substitute or deposit other Assets which meet the requirements of an Eligible Investment and, if a substitution, having a Book Value greater than or equal to the Book Value, and having a fair market value greater than or equal to the fair market value, of such substituted Asset; provided, however, that the total value of the Assets held in the Trust Account, to the extent required, is equal to or exceeds the Required Balance, in compliance, and as calculated in accordance, with Exhibit C hereto.  The Trustee shall accept for deposit into the Trust Account any asset transferred to the Trustee from time to time by the Beneficiary pursuant to a written directive and designated to be deposited into the Trust Account, and all such assets shall be considered “Assets” for purposes of this Agreement and shall be subject to the provisions of this Agreement.  The Trustee shall have no duty or responsibility to determine whether any Assets constitute Eligible Investments or to determine the fair market value of any Assets held in the Trust Account.  The Grantor shall be solely responsible for making such determinations.
(c)    The Grantor hereby represents and warrants (i) that any Assets transferred by the Grantor to the Trustee for deposit to the Trust Account will be in such form that the Beneficiary whenever necessary may, and the Trustee upon direction by the Beneficiary will, negotiate any such Assets without consent or signature from the Grantor or any other Person or entity in accordance with the terms of this Trust Agreement, (ii) that all Assets transferred by the Grantor to the Trustee for deposit into the Trust Account will consist only of Eligible Investments, (iii) that Grantor has, at the time of transfer into this Trust Account, conveyed to the Trustee good and marketable title to the Assets to be so transferred and each such Asset shall be at the time of transfer free and clear of 

all claims, liens, interests and encumbrances (other than those arising under this Trust Agreement) and (iv) that Grantor will not cause the Trustee to take any action that would create, incur, assume or permit any claim, lien or encumbrance on any Asset in the Trust Account (other than those arising under this Trust Agreement).
(d)    Prior to depositing the Assets into the Trust Account, and from time to time thereafter as required, the Grantor shall execute assignments, endorsement in blank, or transfer legal title to the Trustee of all shares, obligations or other Assets requiring assignments, so that the Beneficiary whenever necessary may, and the Trustee upon the direction by the Beneficiary will, negotiate any such Assets without the consent or signature from the Grantor or any other Person or entity.
(e)    The parties recognize that certain Assets will not be readily negotiable and that certain notices, opinions of counsel, representations and/or consents will be required for the Beneficiary to obtain good and marketable title to such Assets. In the event any such Asset is not readily negotiable, the Trustee shall only be required to deliver the Asset, together with any assignment or other document related to such Asset and previously actually deposited with the Trustee, to the Beneficiary in accordance with a Beneficiary Request for Withdrawal (as hereinafter defined).  Any notice, opinion of counsel, representation or consent required to negotiate the Assets shall be provided by the Beneficiary for the initial deposit described in Section 1.1(a), and by the Grantor for any other conveyance of Assets to the Trust Account.
Section 1.2.    Deposit of Commercial Mortgage Loans.
(a)    In the case of Commercial Mortgage Loans, the Grantor shall effect such transfer through delivery by the Grantor to the Trustee of a complete and accurate set of the related Loan Assignment Documents.  
(b)    In the case of Eligible Investments that are Commercial Mortgage Loans, the Grantor grants to the Trustee all powers necessary and reasonable in the performance of its duties hereunder except as otherwise expressly provided herein.  Subject to the terms, conditions and limitations set forth in this Agreement, the Trustee may execute and deliver in the name of the Grantor or the Beneficiary, as permitted by Section 2 of this Agreement, as the case may be, any assignments, stock or bond powers or other documents or instruments which the Trustee deems necessary or convenient and proper (1) to sell, assign, transfer, or make other disposition of any security or other property in the Trust Account; provided that the Trustee shall only sell, assign, transfer or dispose of any Commercial Mortgage Loan in accordance with this Agreement and by sale, assignment or transfer of the whole Commercial Mortgage Loan; (2) to take any necessary action in relation to any such security or property as required pursuant to Section 1.2(c); or (3) to obtain any payment due, but only as instructed by the Grantor or the Beneficiary in accordance with the terms of this Agreement.  Each of the Trustee and the Beneficiary is hereby authorized and empowered hereunder (x) to prepare and file, on behalf of itself or either of them, any UCC-3 assignment, and (y) and record any assignments delivered as to a Loan Assignment Document in the related real property records, in each case in connection with the withdrawal of any Commercial Mortgage Loan pursuant to a Beneficiary Request for Withdrawal or in connection with the sale, assignment or transfer of any Commercial Mortgage Loan.

(c)    (i)    In connection with the deposit of any Commercial Mortgage Loan into the Trust Account on the date of the closing of the transactions contemplated in the Reinsurance Agreement (the “Closing” and such date, the “Closing Date”): (A) the Beneficiary shall (x) deliver (or cause to be delivered) to the Trustee a complete and accurate set of the executed originals of related Loan Assignment Documents (other than Trailing Documents, only copies of executed originals of which will be delivered) together with a CML Assignment Document Certification from the Beneficiary, and (y) deliver to the Grantor copies of such Loan Assignment Documents.  The Trustee shall provide a Custody Transmission to the Grantor and the Beneficiary with respect to every Commercial Mortgage Loan deposited in the Trust Account in connection with the Closing (X) within six (6) Business Days following the Trustee’s receipt of the Loan Assignment Documents in accordance with this Section 1.2(c)(i), (Y) on a monthly basis concurrently with the delivery of the Monthly Statement, and (Z) upon the written request of the Beneficiary or Grantor.  For the avoidance of doubt, delivery of the Loan Assignment Documents in connection with the Closing shall be the Beneficiary’s responsibility.
(ii)    In connection with any subsequent deposit of any Commercial Mortgage Loan into the Trust Account after the Closing Date, (A) the Grantor shall (x) deliver (or cause to be delivered) to the Trustee a complete and accurate set of the executed originals of the related Loan Assignment Documents (other than Trailing Documents, only copies of executed originals of which will be delivered) together with a CML Assignment Document Certification, and (y) deliver to the Beneficiary copies of such Loan Assignment Documents. The Trustee shall provide a Custody Transmission to the Grantor and the Beneficiary with respect to every Commercial Mortgage Loan deposited in the Trust Account subsequent to the Closing (X) as promptly as possible, but in no event later than fifteen (15) Business Days after such receipt, (Y) on a monthly basis concurrently with the delivery of the Monthly Statement, and (Z) upon the written request of the Beneficiary or Grantor.  For the avoidance of doubt, delivery of the Loan Assignment Documents subsequent to the Closing shall be the Grantor’s responsibility.
(iii)    Upon its receipt of the Loan Assignment Documents relating to any Commercial Mortgage Loan, Trustee shall compare the delivered Loan Assignment Documents to the related CML Assignment Document Certification and shall provide all related Custody Transmissions to the Grantor and the Beneficiary within the time frames set forth in paragraphs (c)(i)(X) and (c)(ii)(X) above, as applicable, and if the Trustee shall determine that such documents do not substantially conform to the description of such documents specified in the CML Assignment Document Certification, delivered by the Grantor or the Beneficiary (as applicable) to the Trustee in respect of such Commercial Mortgage Loan, or if for any reason the Trustee is unable to confirm that the documents are as specified in such CML Assignment Document Certification, the Trustee shall identify such Commercial Mortgage Loan, as having an exception (an “Exception”) on the applicable Custody Transmission.  With respect to any deposit of Commercial Mortgage Loans into the Trust Account, the Grantor, or the Beneficiary, as applicable, shall be solely responsible for delivering to the Trustee in a timely manner each and every Loan Assignment Document required for each Commercial Mortgage Loan deposited into the Trust, and for completing 

or correcting any missing, incomplete or inconsistent documents and the Trustee shall not be responsible or liable for taking any action to ensure the Grantor or Beneficiary has complied with its delivery obligation hereunder, causing any other Person to do so or notifying the Grantor that any such action has or has not been taken.   A Commercial Mortgage Loan shall be deemed an Asset in the Trust Account only after the Trustee has delivered a completed Custody Transmission to the Beneficiary in respect of such Commercial Mortgage Loan, confirming that all originals of the executed Loan Assignment Documents or (solely with respect to Trailing Documents, copies thereof) have been received by the Trustee with no Exceptions, and if an Exception is noted by the Trustee on the Custody Transmission, only after all Exceptions have been addressed to the Trustee’s reasonable satisfaction and originals of the executed Loan Assignment Documents or (solely with respect to Trailing Documents, copies thereof) have been received by the Trustee.
(iv)    With respect to the Trailing Documents: (x) the Parties acknowledge that the Trailing Documents are not required for the initial deposit and acceptance of a Commercial Mortgage Loan in the Trust Account; (y) the Grantor covenants that, upon its receipt of a Trailing Document, it shall promptly provide such Trailing Document to the Trustee; and (z) in the event that the Trailing Documents with respect to any Commercial Mortgage Loan are not so provided within ninety (90) days following such initial deposit and acceptance, such Commercial Mortgage Loan shall cease to be an “Asset” for the purposes of this Agreement, in each case until all Trailing Documents are delivered to the Trustee.
(v)    Notwithstanding paragraphs (c)(i), (c)(ii) and (c)(iii) above, it is herein acknowledged that, in accepting a deposit of any Commercial Mortgage Loan into the Trust Account, the Trustee shall be under no duty or obligation to inspect, review or examine the actual content or substance of any related Loan Assignment Documents, any other loan document, security document or any other related document, instrument or agreement or to determine that they are genuine, enforceable, or appropriate for the represented purpose or that they have actually been recorded or that they are other than what they purport to be on their face.  In no event shall the Trustee be responsible for the preparation of any Loan Assignment Documents, any other loan document, security document or any other instruments, agreements or documents relating to the Commercial Mortgage Loan or required for the deposit of the Commercial Mortgage Loan into the Trust Account or for the expenses of such preparation or any other costs related thereto, including any filing fees therefor.
(vi)    The Trustee’s administrative obligations hereunder in respect of the Commercial Mortgage Loans shall be limited to (x) the preparation and delivery of a Custody Transmission in respect of each Commercial Mortgage Loan, including notation of any Exceptions, and (y) the execution of instruments or other documents provided to it, including Trustee Loan Assignment Documents, and the Trustee shall take no action with respect to any Commercial Mortgage Loan or any Underlying Asset, except at the written direction of the Grantor or the Beneficiary, as applicable, or as otherwise permitted pursuant to this Agreement.  Any compensation and expenses payable to any servicer under the Servicing Agreements shall be paid by the Grantor, and, if charged to and paid by the Trustee (it being 

understood that the Trustee has no obligation to pay any such amounts), shall be reimbursed as expenses of the Trustee by the Grantor in accordance with Section 9(a); provided that any such compensation and expenses may be payable out of assets in the Trust Account or Income Account.
With respect to any assignment and assumption agreement relating to a Commercial Mortgage Loan, the Trustee is hereby authorized and directed, not in its individual capacity but solely in its capacity as Trustee, to execute and deliver such assignment and assumption agreements presented to the Trustee for execution from time to time. To the extent that, under the assignment and assumption agreements, the Trustee as assignee has undertaken or assumed any obligations or made any representations, warranties or covenants, such obligations, representations, warranties or covenants shall not be those of the Trustee, but shall instead be those of the Grantor and the Grantor shall perform or cause to be performed all such obligations, representations, warranties or covenants.
(d)    The Grantor hereby represents, warrants and covenants (i) that any assets transferred by the Grantor to the Trustee for deposit to the Trust Account will be in such form that the Beneficiary whenever necessary may, and the Trustee upon direction by the Beneficiary may, negotiate any such assets without consent or signature from the Grantor or any Person in accordance with the terms of this Agreement; and (ii) that all assets delivered (or caused to be delivered) by the Grantor to the Trustee for deposit to the Trust Account will consist only of Eligible Investments at the time of such transfer. In furtherance of the foregoing, the Grantor shall take such actions that shall become necessary or appropriate to maintain the assignability of Commercial Mortgage Loans held in the Trust Account during the term of this Agreement, including but not limited to, obtaining any consents necessary to transfer any Commercial Mortgage Loans to or from the Trust Account.  The Grantor hereby represents, warrants and covenants with the Beneficiary and the Trustee that any consents required to effect any sale, transfer or assignment with respect to any Commercial Mortgage Loan have been or will have been obtained prior to the deposit of such Commercial Mortgage Loan into the Trust Account.  The Trustee shall have no responsibility whatsoever to determine at any time whether any Assets are or continue to be Eligible Investments.
Section 2.    Withdrawal of Assets from the Trust Account.
(a)    The Beneficiary shall have the right, at any time and from time to time, to withdraw from the Trust Account, upon notice to the Trustee in the form of a certificate and request for withdrawal substantially in the form of Exhibit A attached hereto (the “Beneficiary Request for Withdrawal”), signed by two (2) duly authorized officers of the Beneficiary, such Assets as are specified in such Beneficiary Request for Withdrawal.  The Beneficiary shall simultaneously deliver a copy of such notice to the Grantor; provided, however, that the Trustee shall not be required to confirm delivery of such copy.  Such withdrawal by the Beneficiary shall be made only in the circumstances permitted by Section 9.8(a) of the Reinsurance Agreement (the text of which section is set forth on Exhibit C to this Agreement) and then only in the amount permitted to be withdrawn pursuant to Section 9.8(a).  The Beneficiary shall not submit the Beneficiary Request for Withdrawal except as permitted by the immediately preceding sentence. The Beneficiary shall acknowledge in writing receipt of any such Assets withdrawn from the Trust.  

(b)    Upon receipt of a Beneficiary Request for Withdrawal in accordance with Section 2(a) above, the Trustee shall as soon as practicable, but in no event later than two (2) Business Days, take any and all steps necessary to transfer the Assets specified in such Beneficiary Request for Withdrawal, and shall deliver such Assets to or for the account of the Beneficiary or such designee as specified in such Beneficiary Request for Withdrawal; provided, however, that such transfer shall occur no later than two (2) Business Days following receipt of such request.  The Trustee agrees to notify the Grantor of the occurrence of any such withdrawal by the Beneficiary within two (2) Business Days following such delivery.  In addition, the Beneficiary agrees with Grantor that it shall provide a certificate to the Grantor in the form of Exhibit E attached hereto, certifying that the withdrawal has been made in accordance with Section 9.8(a) of the Reinsurance Agreement, within the two (2) Business Day period as required therein.
(c)    Without limiting the applicability of the foregoing, in connection with the withdrawal of any Commercial Mortgage Loan, the Beneficiary shall direct the Trustee in writing to, and the Trustee shall, in its capacity as Trustee and not in its individual capacity, date, as applicable, the Trustee Loan Assignment Documents to endorse and transfer the Commercial Mortgage Loan to the Beneficiary, and the Trustee shall reasonably cooperate with the Beneficiary in providing any information or documentation necessary to effect such assignment (to the extent such information or documentation exists and is in the possession or control of the Trustee).  The Grantor hereby grants the Beneficiary a limited power of attorney to act on the behalf of the Grantor to the extent (and only to such extent) necessary to obtain the consents or approvals required to effect the transfer of any Commercial Mortgage Loan in connection with any withdrawal by the Beneficiary permitted hereunder, and the Grantor shall reasonably cooperate with the Beneficiary in providing any information or documentation necessary to effect such sale, transfer or assignment.  In the event that the Beneficiary withdraws a Commercial Mortgage Loan from the Trust Account pursuant to this Agreement, then, unless otherwise agreed upon by the Grantor and the Beneficiary in writing with notice to the Trustee, only the entire whole Commercial Mortgage Loan (and not a portion thereof) or the entire participation interest in a Commercial Mortgage Loan then in the Trust Account may be assigned or transferred to the Beneficiary.  
(d)    (1)    Unless and until a Notice of Exclusive Control is given to the Trustee pursuant to Section 11, the Grantor may, at any time and from time to time, withdraw from the Trust Account, after providing written notice to the Trustee.  Grantor may make such request using the form of certificate and request for withdrawal substantially in the form of Exhibit B attached hereto (the “Grantor Request for Withdrawal”), signed by duly authorized officers of the Grantor, and specifying such Assets Grantor intends to withdraw.  Such withdrawal by the Grantor may be made only pursuant to Section 9.6 of the Reinsurance Agreement (the text of which section is set forth on Exhibit C to this Agreement).
(2)    The Grantor shall acknowledge in writing receipt of any such Assets withdrawn from the Trust.  
(e)    Upon receipt of a Grantor Request for Withdrawal in accordance with Section 2(d) above, the Trustee shall take any and all steps necessary to transfer the Assets specified in such Grantor Request for Withdrawal, and shall deliver such Assets to or for the account of the Grantor 

or such designee as specified in such Grantor Request for Withdrawal (i) no later than two (2) Business Days following receipt of such request, if (A) such request is in respect of any withdrawal and transfer of cash in connection with the payment by the Grantor of an amount specified in a Monthly Reinsurance Settlement Report and (B) the conditions in clauses (x) and (a) through (c) in Section 9.6 of the Reinsurance Agreement are all met or (ii) on the fifth Business Day following the date of such Grantor Request for Withdrawal, in respect of all other requests made pursuant to Section 9.6 of the Reinsurance Agreement unless Beneficiary shall have objected to such withdrawal in writing within such five (5) Business Day period.  The Trustee shall provide notice to the Beneficiary of the withdrawal within two (2) Business Days following such delivery.  In addition, in respect of a withdrawal pursuant to clause (i) of this Section 2(e), the Grantor shall provide a certificate to the Beneficiary in the form of Exhibit D attached hereto, certifying that such withdrawal has been made in accordance with Section 9.6 of the Reinsurance Agreement, within such two (2) Business Day period.  
(f)    Without limiting the applicability of the foregoing, in the event that the Grantor makes a demand to the Trustee to withdraw a Commercial Mortgage Loan held in the Trust Account under this Section 2, then only the entire whole Commercial Mortgage Loan (and not a portion thereof) or the entire participation interest in a Commercial Mortgage Loan may be withdrawn by the Grantor; provided, further, that in connection with any withdrawal of any Commercial Mortgage Loan hereunder, the Grantor or the applicable investment manager shall (A) direct the Trustee in writing to, and the Trustee shall, execute and return the Trustee Loan Assignment Documents to the Grantor and (B) obtain any consents required to effect such sale, transfer or assignment, and the Trustee shall reasonably cooperate with the Grantor or the investment manager in providing any information or documentation necessary to effect such withdrawal (to the extent such information or documentation exists and is in the possession or control of the Trustee); provided that, for the avoidance of doubt, the Grantor shall be permitted to release single assets from the Commercial Mortgage Loans encumbering multiple assets by payment of the applicable release price, as confirmed by the Grantor and Beneficiary, received thereunder to the Trustee (e.g., release of a single condo unit in a condominium encumbered by the Commercial Mortgage Loan).
(g)    In the event of any dispute between, or conflicting claims by or between, the Grantor and the Beneficiary concerning the right of the Grantor or the Beneficiary to initiate a withdrawal of Assets pursuant to this Section 2, the Trustee shall, notwithstanding such dispute or conflicting claims, promptly, and without further inquiry, comply with the terms of any Beneficiary Request for Withdrawal or Grantor Request for Withdrawal (collectively a “Withdrawal Notice”) received by it in accordance with this Agreement, provided, however, that the Trustee shall not be or become liable in any way to the Grantor or the Beneficiary for complying with such Withdrawal Notice and the Trustee shall be fully and completely indemnified in accordance with the provisions of Section 9 hereof.
(h)    The Trustee shall enable the Beneficiary to view each deposit to, or withdrawal from, the Trust Account by providing the Beneficiary access to the Trustee’s online portal with respect to the Trust Account.

(i)    Subject to Section 1(b) and Section 4, in the absence of a Beneficiary Request for Withdrawal or a Grantor Request for Withdrawal, the Trustee shall allow no substitution or withdrawal of any Asset from the Trust Account.
Section 3.    Application of Assets.
(a)    The Beneficiary shall be permitted to withdraw Assets from the Trust Account only for the purposes of satisfying obligations of the Grantor under Section 9.8(a) of the Reinsurance Agreement that have not been satisfied within five (5) Business Days after a demand therefor by the Beneficiary.
(b)    The Trustee shall have no responsibility whatsoever to determine that any Assets withdrawn from the Trust Account pursuant to Section 2 of this Agreement will be used and applied in the manner contemplated by paragraph (a) of this Section 3.
Section 4.    Redemption, Investment and Substitution of Assets.
(a)    The Trustee shall surrender for payment all maturing Assets and all Assets called for redemption, and deposit the principal amount of the proceeds of any such payment to the Trust Account.
(b)    The Grantor may retain (and pay the service fees of) one or more professional asset managers (each, an “Asset Manager”) to manage and make investment decisions with regard to the Assets held by the Trustee in the Trust Account, including any sub-accounts thereunder. The initial Asset Managers shall be Hartford Investment Management Company and the Grantor. The Grantor shall cause the Asset Managers to comply with the investment guidelines attached hereto as Exhibit F (the “Investment Guidelines”), which sets forth the division of duties between such parties with respect to making investment decisions, including what instructions such parties may provide to the Trustee.  From time to time, at the written order and direction of the Grantor or any Asset Manager (with respect to the Assets managed by such Asset Manager), the Trustee shall invest Assets in the Trust Account in Eligible Investments.
(c)    From time to time and in accordance with Section 9.7 of the Reinsurance Agreement (the text of which section is set forth on Exhibit C to this Agreement), the Grantor or any Asset Manager (with respect to the Assets managed by such Asset Manager) may provide notice to the Trustee and the Beneficiary of its desire to substitute specified Assets in the Trust Account with Eligible Investments having an aggregate Book Value greater than or equal to the aggregate Book Value of such Assets being replaced and having an aggregate fair market value greater than or equal to the aggregate fair market value of such Assets being replaced, so long as following such substitution all assets in the Trust Account are Eligible Investments.  Such notice of substitution shall be substantially in the form of Exhibit G, attached, and shall specify by CUSIP the specific assets to be deposited in, and withdrawn from, the Trust Account, and shall contain a certification to the Trustee and the Beneficiary that the assets to be deposited in the Trust Account are Eligible Investments. Five (5) Business Days after receipt of such notice from the Grantor or any Asset Manager by the Trustee, the Trustee shall distribute the specified assets to the Grantor or applicable Asset Manager upon receipt of the specified assets from the Grantor or the applicable Asset Manager. 

The Trustee shall have no responsibility whatsoever to determine the aggregate Book Value of such substituted Assets or that such substituted Assets constitute Eligible Investments.
(d)    All investments and substitutions of securities referred to in Section 4(b) and Section 4(c) above shall be in compliance with the definition of “Eligible Investments” in Section 14 of this Trust Agreement. Any instruction or order concerning such investments or substitutions of securities shall be referred to herein as an “Investment Order”. The Trustee shall execute Investment Orders and settle securities transactions by itself or by means of an agent or broker. The Trustee shall not be responsible for any act or omission, or for the solvency, of any such agent or broker.
(e)    Any investment orders related to the sale, transfer or assignment of any Commercial Mortgage Loan (other than in connection with a substitution or exchange covered under Section 4(c) or Section 4(j)) shall only be effected by the Grantor or the applicable investment manager in accordance with Section 12(a).
(f)    When the Trustee is directed to deliver Assets against payment, delivery will be made in accordance with generally accepted market practice.
(g)    Any loss incurred from any investment pursuant to the terms of this Section 4 shall be borne exclusively by the Trust Account.
(h)    All items of income, gain, expense and loss recognized in the Trust Account shall be reported to the Internal Revenue Service and all state and local taxing authorities under the name and taxpayer identification number of the Grantor.
(i)    Without limiting the applicability of the foregoing and subject to the Reinsurance Agreement, with respect to the Commercial Mortgage Loans, in the substitution notice to the Trustee, the Grantor or the applicable investment manager shall (1) direct the Trustee in writing to, and the Trustee shall, in its capacity as Trustee and not in its individual capacity, execute and deliver to the Grantor, the Trustee Loan Assignment Documents, for the Commercial Mortgage Loan being replaced, and (2) obtain any consents required to effect such substitution, and the Trustee shall reasonably cooperate with the Grantor or the investment manager in providing any information or documentation necessary to effect such substitution (to the extent such information or documentation exists and is in the possession or control of the Trustee).  The Grantor may from time to time designate a third party in the substitution notice to whom the Trustee Loan Assignment Documents, including the original Note and the Loan Assignment Allonge or the Participation Certificate, as applicable shall be delivered.  
(j)    Subject to the Reinsurance Agreement and the provisions of this Section 4(j), the Grantor shall also have the right, at any time and from time to time, to withdraw from the Trust Account, subject only to three (3) Business Days’ prior written notice from the Grantor to the Trustee and the Beneficiary in the form attached hereto as Exhibit H (a “Grantor Servicing Notice”), such Commercial Mortgage Loan or Commercial Mortgage Loans as are specified in such Grantor Servicing Notice, which notice shall include a certification by the Grantor to the Trustee and the Beneficiary that the withdrawal of the Commercial Mortgage Loan or Commercial Mortgage Loans is required in connection with (i) the pay-off of any Commercial Mortgage Loan, (ii) the sale of a 

Commercial Mortgage Loan by the Grantor or (iii) the modification, servicing, restructuring, foreclosure, deed-in-lieu or other liquidation of any Commercial Mortgage Loan.  In the Grantor Servicing Notice delivered in connection with any withdrawal of any Commercial Mortgage Loan pursuant to this Section 4(j), the Grantor or the applicable investment manager shall (1) direct the Trustee in writing to, and the Trustee shall, in its capacity as Trustee and not in its individual capacity, execute and deliver to the Grantor, the Trustee Loan Assignment Documents, and (2) obtain any consents required to effect such withdrawal, and the Trustee shall reasonably cooperate with the Grantor or the investment manager in providing any information or documentation necessary to effect such withdrawal (to the extent such information or documentation exists and is in the possession or control of the Trustee). The Grantor may from time to time designate a third party in a Grantor Servicing Notice to whom the Trustee Loan Assignment Documents, including the original Note and the Loan Assignment Allonge or the Participation Certificate, as applicable shall be delivered.  The Grantor Servicing Notice shall include a certification that, as applicable, (A) the proceeds from a transaction of the type described in clause (i) or (ii) of the first sentence of this Section 4(j) will be paid into the Trust Account within three (3) Business Days; or (B) in the case of clause (iii) of the first sentence of this Section 4(j), that any net cash proceeds from such foreclosure sale or liquidation shall be paid into the Trust Account within three (3) Business Days.  For avoidance of doubt, in the event that the Grantor comes into possession of any cash proceeds, the Grantor acknowledges and agrees (i) that it holds such proceeds in trust for the benefit of the Beneficiary, and (ii) that it will transfer such proceeds to the Trust Account as soon as reasonably practical following receipt by the Grantor, except in each case, to the extent that it has previously deposited other Assets into the Trust Account to replace some or all of the value of the withdrawn Commercial Mortgage Loan.  The withdrawal of a Commercial Mortgage Loan pursuant to this Section 4(j) shall reduce the Book Value or fair market value, as applicable, of the Assets in the Trust Account by the value of the asset so withdrawn in the event the Grantor does not deposit such cash proceeds, and/or other Assets (which may include a modified or restructured Commercial Mortgage Loan with a Book Value or fair market value, as applicable, at least equal to the value of such withdrawn Commercial Mortgage Loans), within three (3) Business Days following such withdrawal.  For the avoidance of doubt, in no event shall real estate owned resulting from any such foreclosure, deed-in-lieu or other liquidation be deposited into the Trust Account.  Notwithstanding anything herein to the contrary, at no time shall the value of any Commercial Mortgage Loans “in transit” (i.e., such Commercial Mortgage Loan is withdrawn from the Trust Account for one of the purposes set forth in clause (i) through (iii) of this Section 4(j) without simultaneously being replaced with Eligible Investments with the same value) under this Section 4(j) exceed $50 million.  The Grantor shall not be required to present any other statement or document in addition to a Grantor Servicing Notice in order to withdraw any Commercial Mortgage Loan, and the Grantor shall acknowledge receipt of any Commercial Mortgage Loans, withdrawn from the Trust Account upon request by the Trustee.  The Trustee shall have no liability or responsibility to verify or determine the occurrence of any event or condition giving rise to the Grantor’s right to withdraw Commercial Mortgage Loans from the Trust Account pursuant to a Grantor Servicing Notice or to monitor the Grantor’s compliance with its obligation to deposit proceeds of any withdrawn Asset, and the Trustee shall be fully protected in relying conclusively on the Grantor Servicing Notice.  
Section 5.    The Income Account.  (a) All payments of interest, dividends and other income in respect to Assets in the Trust Account (it being agreed that with respect to Commercial 

Mortgage Loans, such amounts shall be deposited in the Income Account after retention by the related servicer of required escrows and reserves to the extent contemplated pursuant to the terms of the applicable loan agreement and the Servicing Agreement) shall be the property of the Grantor and shall be deposited by the Trustee subject to deduction of the Trustee’s compensation and expenses as provided in Section 9 of this Agreement, in a separate income column of custody ledger (the “Income Account”) established and maintained by the Grantor at an office of the Trustee. The Grantor, upon written notice to the Trustee, may withdraw amounts from the Income Account at any time and from time to time. Any interest, dividend or other income automatically posted and credited on the payment date to the Income Account which is not subsequently received by the Trustee shall be reimbursed by the Grantor to the Trustee and the Trustee may debit the Income Account for this purpose.
(b)    To the extent received from a servicer under any Servicing Agreements the Grantor shall deliver (i) to the Trustee monthly remittance reports that detail the payments of Net Collections, interest and other income received in respect of each of the Commercial Mortgage Loans, and (ii) in accordance with the applicable Servicing Agreement(s) for deposit into the Trust Account, all Net Collections generated by Commercial Mortgage Loans in the Trust Account, it being agreed that Grantor may satisfy such obligations by causing servicer to deliver such reports and amounts directly to the Trustee.  To the extent that the Trustee receives in the Trust Account such income together with principal in a single payment, the Trustee shall, in accordance with the information contained in the monthly remittance reports to be delivered by or on behalf of the Grantor as provided below, allocate such income to the Income Account.  For the avoidance of doubt, no principal payments on any of the Commercial Mortgage Loans shall be deposited into the Income Account.  
Section 6.    Right to Vote Assets.  Whenever there are voluntary rights that may be exercised or alternate courses of action that may be taken by reason of the Grantor’s ownership of Eligible Investments, the Grantor or its designee shall be responsible for making any decisions relating thereto and for directing the Trustee to act. The Trustee shall notify the Grantor or its designee of rights or discretionary actions with respect to Eligible Investments as promptly as practicable under the circumstances, provided that the Trustee has actually received notice of such right or discretionary corporate action from the relevant depository, etc. Absent actual receipt of such notice, the Trustee shall have no liability for failing to so notify the Grantor or its designee. Absent the Trustee’s timely receipt of instructions, the Trustee shall not be liable for failure to take any action relating to or to exercise any rights conferred by such Eligible Investments.
Section 7.    Additional Rights and Duties of the Trustee.
(a)    Before accepting any Asset for deposit to the Trust Account, the Trustee shall determine that such Asset is in such form that the Beneficiary whenever necessary may, or the Trustee upon direction by the Beneficiary will, negotiate such Asset without consent or signature from the Grantor or any Person or entity other than the Trustee in accordance with the terms of this Trust Agreement.
(b)    The Trustee shall be under no obligation to determine whether or not any instructions given by the Grantor and Beneficiary are contrary to any provision of law. It is understood and agreed that the Trustee’s duties are solely those set forth herein and that the Trustee shall have no 

duty to take any other action unless specifically agreed to by the Trustee in writing. Without limiting the generality of the foregoing, the Trustee shall not have any duty to advise, manage, supervise or make recommendations with respect to the purchase, retention or sale of Assets with respect to any Assets in the Trust Account as to which a default in the payment of principal or interest has occurred or to be responsible for the consequences of insolvency or the legal inability of any broker, dealer, bank or other agent employed by the Grantor or Trustee with respect to the Assets.  The Trustee agrees to use reasonable efforts to advise the Grantor and the Beneficiary of the occurrence of any default with respect to securities held in trust hereunder to the extent that it has received notice of same.
(c)    The Trustee shall accept and open all mail directed to the Grantor or the Beneficiary in care of the Trustee.
(d)    The Trustee shall have no responsibility whatsoever to determine that any Assets in the Trust Account are or continue to be Eligible Investments or to determine the value of any Asset.
(e)    The Trustee shall furnish to the Grantor and the Beneficiary a statement (the “Asset Statement”), containing (i) a description of all of the Assets in the Trust Account and (ii) information pertaining to all deposits, withdrawals and substitutions made during the statement period, upon the inception of the Trust Account and at the end of each calendar month thereafter; provided, however, the Asset Statement shall not include any other information regarding Commercial Mortgage Loans or Bank Loans (which shall be reported on the applicable Custody Transmission).  The Asset Statement shall be delivered within five (5) Business Days following the end of each such calendar month.  The Asset Statement to be delivered pursuant to this Section 7(e) shall be deemed delivered by the Trustee to the Grantor and the Beneficiary to the extent that prior to the end of such calendar month, the Grantor and the Beneficiary, as the case may be, had requested and been given access to the Trustee’s automated data system affording on-line access to Trust Account information and such information is posted by the Trustee on such system within the relevant period.
(f)    The Trustee shall keep full and complete records of the administration of the Trust Account in accordance with all applicable law. Upon the request of the Grantor or the Beneficiary, the Trustee shall promptly permit the Grantor or the Beneficiary, their respective agents, employees, independent auditors and regulatory authorities to examine, audit, excerpt, transcribe and copy, during the Trustee’s normal business hours, any books, documents, papers and records relating to the Trust Account or the Assets.
(g)    (7) Unless otherwise provided in this Trust Agreement, the Trustee is authorized to follow and rely upon all instructions given by officers named in incumbency certificates furnished to the Trustee from time to time by the Grantor, any relevant Asset Manager and the Beneficiary, respectively, and by attorneys-in-fact acting under written authority furnished to the Trustee by the Grantor or the Beneficiary, including, without limitation, instructions given by letter, facsimile transmission or electronic media, if the Trustee reasonably believes such instructions to be genuine and to have been signed, sent or presented by the proper party or parties. The Trustee shall not incur any liability to anyone resulting from actions taken by the Trustee in reliance in good faith on such instructions. The Trustee shall not incur any liability in executing instructions (i) from any attorney-in-fact prior to receipt by it of notice of the revocation of the written authority of the attorney-in-

fact or (ii) from any officer of the Grantor or the Beneficiary named in an incumbency certificate delivered hereunder prior to receipt by it of a more current certificate. Each of the Grantor and the Beneficiary acknowledges and agrees that it is fully informed of the protections and risks associated with the various methods of transmitting instructions to the Trustee, and that there may be more secure methods of transmitting instructions than the method selected by the sender. Each of the Grantor and the Beneficiary agrees that the security procedures, if any, to be followed in connection with a transmission of instructions provide to it a commercially reasonable degree of protection in light of its particular needs and circumstances.
(1)    Funds Transfers. With respect to any “funds transfer,” as defined in Article 4-A of the Uniform Commercial Code, the following security procedure will apply: payment instruction of the Grantor or the Beneficiary, as the case may be, is to include the name and (in the case of a facsimile) signature of the Person initiating the funds transfer request. If the name is listed as an Authorized Person on the relevant account, the Trustee will confirm the instructions by telephone call to any Person listed as an Authorized Person on the account, who may be the same Person who initiated the instruction. When calling back, the Trustee will request from the staff member of the Grantor or the Beneficiary, as the case may be, his or her name. If the name is listed in the Trustee’s records as an Authorized Person, the Trustee will confirm the instructions with respect to amount, names and numbers of accounts to be charged or credited and other relevant reference information. Where the Agreement contemplates joint payment instructions from the Grantor and Beneficiary, the Trustee shall call back both the Grantor and Beneficiary. Each of the Grantor and Beneficiary acknowledges that Trustee has offered such Grantor and Beneficiary other security procedures that are more secure and are commercially reasonable for such Grantor and Beneficiary, and that such Grantor and Beneficiary has nonetheless chosen the procedure described in this paragraph. Each of the Grantor and the Beneficiary agrees to be bound by any payment order issued in its name, whether or not authorized that is accepted by the Trustee in accordance with the above procedures. When instructed to credit or pay a party by both name and a unique numeric or alpha-numeric identifier (e.g. ABA number or account number), the Trustee, and any other bank participating in the funds transfer, may rely solely on the unique identifier, even if it identifies a party different than the party named. This applies to beneficiaries as well as any intermediary bank. Each of the Grantor and Beneficiary agrees to be bound by the rules of any funds transfer network used in connection with any payment order accepted by the Trustee hereunder. The Trustee shall not be obliged to make any payment or otherwise to act on any instruction notified to it under this Agreement if it is unable to validate the authenticity of the request by telephoning an Authorized Person who has not executed the relevant request or instruction of the relevant Grantor and Beneficiary. Payment or otherwise to act on any instruction by Authorized Person of the relevant Grantor and Beneficiary will be made by the Trustee within three (3) Business Days after Trustee’s verification of instructions as set forth above. A “Business Day” shall mean any day on which banks in the State of New York, the Commonwealth of Massachusetts and the State of Connecticut are open for business.
Notwithstanding any revocation, cancellation or amendment of this authorization, any action taken by the Trustee pursuant to this authorization prior to the Trustee’s actual receipt and acknowledgement of a notice of revocation, cancellation or amendment shall not be affected by such notice.

(h)    The duties and obligations of the Trustee shall only be such as are specifically set forth in this Trust Agreement, as it may from time to time be amended, and no implied duties or obligations shall be read into this Trust Agreement against the Trustee.
(i)    No provision of this Trust Agreement shall require the Trustee to take any action which, in the Trustee’s reasonable judgment, would result in any violation of this Trust Agreement or any provision of law.
(j)    The Trustee may confer with counsel of its own choice in relation to matters arising under this Trust Agreement and shall have full and complete authorization from the other Parties for any action taken or suffered by it under this Trust Agreement or in respect of any transaction contemplated hereby in good faith and in accordance with the advice or opinion of such counsel.
(k)    The Trustee shall not be liable hereunder except for its own negligence, willful misconduct or lack of good faith. Anything in this Agreement to the contrary notwithstanding, in no event shall the Trustee, be liable under or in connection with this Agreement for indirect, special, incidental, punitive or consequential losses or damages of any kind whatsoever, including but not limited to lost profits, whether or not foreseeable, even if the Trustee has been advised of the possibility thereof and regardless of the form of action in which such damages are sought. The Trustee shall not incur any liability for not performing any act or fulfilling any duty, obligation or responsibility hereunder to the extent solely by reason of any occurrence beyond the control of Trustee, including, but not limited to, any act or provision of any present or future law or regulation or governmental authority, any act of God or war or terrorism, accidents, labor disputes, loss or malfunction of utilities or the unavailability of the Federal Reserve Bank wire or telex or other wire or communication facility. Nothing contained in any contract between Trustee and any entity authorized to hold Assets, as defined herein, shall diminish or otherwise alter the liability of Trustee to the Grantor or Beneficiary as set forth and in accordance with the terms herein. The provisions of this paragraph shall not affect the burden of proof under applicable law with respect to the assertions of liability in any claim, action or dispute alleging any breach of or failure to observe such standard of care.
(l)    The Trustee shall not be responsible for the existence, genuineness or value of any of the Assets, for the validity, perfection, priority or enforceability of the liens or any security interest in or with respect to any of the Assets, for the validity of title to the Assets, for insuring the Assets, for the payment of taxes, charges, assessments or liens upon or with respect to the Assets, for any obligations under any agreements or other documents evidencing or related to any of the Assets (other than this Trust Agreement), or for the compliance of the Assets with any laws. The Trustee shall have no responsibility for the recording, filing or registration (or for the rerecording, refiling or reregistration) of any instrument or notice, including any financing or continuation statement or any tax or securities form, at any time in any public office or elsewhere for the purpose of perfecting, maintaining the perfection of or otherwise making effective any lien or any security interest upon, in or with respect to any of the Assets.
(m)    The Trustee shall have no responsibility to determine whether any Commercial Mortgage Loans are negotiable, transferable or assignable, as applicable, and shall have no liability (i) to the extent that the Loan Assignment Documents and other instruments or documents provided 

to the Trustee are not sufficient to effect the transfer, sale or assignment, as applicable, of any Commercial Mortgage Loan upon the execution and delivery thereof by the Trustee as provided herein or (ii) to the extent that there is a failure in the withdrawal of a Commercial Mortgage Loan specified in a Beneficiary Request for Withdrawal by the Beneficiary as a result of the Grantor’s or applicable investment manager’s sale or transfer of such Commercial Mortgage Loan.
(n)    The Grantor and the Beneficiary acknowledge and agree that (i) the Trustee shall have no liability under this Agreement for any action or omission of any of the parties to any Servicing Agreement or any other agreement (related to the Commercial Mortgage Loans or Bank Loans) taken pursuant to such agreements, including with respect to any Commercial Mortgage Loan or Bank Loan at any time during which such Commercial Mortgage Loan is under the care, custody, possession or control of any of the parties to any Servicing Agreement or any other agreement (related to the Commercial Mortgage Loans or Bank Loans) or any of their respective other depositories, subcustodians, other agents or nominees (and none of such other entities or persons shall be considered to be the depositories, subcustodians, agents or nominees of the Trustee), (ii) the performance by the Trustee of any of its obligations under this Agreement may be delayed, limited or otherwise affected by the actions or omissions of any of the parties to any Servicing Agreement or any other agreement (related to the Commercial Mortgage Loans or Bank Loans) or as a result of such Commercial Mortgage Loan or Bank Loan being subject to any Servicing Agreement, and (iii) the Trustee shall have no liability under this Agreement as a result of the Trustee’s failure to perform any of its obligations under this Agreement as a result of the actions or omissions of any of the parties to any Servicing Agreement or any other agreement (related to the Commercial Mortgage Loans or Bank Loans) that cause such failure or as a result of obligations under any Servicing Agreement or any other agreement (related to the Commercial Mortgage Loans or Bank Loans).  In no event will the Trustee be required to perform or assume any duties of any party under any Servicing Agreement.
(o)    The Trustee shall not foreclose on, direct or consent to the foreclosure of, any Underlying Asset or take title to such Underlying Asset by deed-in-lieu of foreclosure or other means except that, in connection with the Grantor, servicer or the Beneficiary taking such action, the Trustee shall execute such documents, in its capacity as Trustee and not in its individual capacity, provided to it and take such other action as may be reasonably required, in accordance with instructions from the Grantor or the Beneficiary provided pursuant to the terms hereof.
(p)    Any notice or correspondence received by the Trustee from any Person in respect of any Commercial Mortgage Loan shall be promptly forwarded to the Grantor and, if such notice did not come to the Trustee from the Beneficiary, to the Beneficiary, pursuant to the notice provisions contained in this Agreement, and, unless the Grantor provides written instructions to the Trustee in accordance with terms of this Agreement, the Trustee shall take no other action with respect to any such notice or correspondence (other than such action explicitly required under this Agreement, including the provision of a Beneficiary Request for Withdrawal under Section 2(a)), and the Trustee shall not be liable for failure to take any action relating thereto.
(q)    The Trustee may deposit any Assets in the Trust Account in a book-entry account maintained at the Federal Reserve Bank of New York or in depositories such as the Depository Trust 

Company. The Trustee shall have no liability whatsoever for the action or inaction of any depository or for any Losses resulting from the maintenance of such Assets with a depository. Assets may be held in the name of a nominee maintained by the Trustee or by any such depository.  The Trustee shall have no responsibility whatsoever to determine whether any Assets are or continue to be Eligible Investments or for the determination of the value of any Assets.
(r)    The Trustee shall not be required to risk or expend its own funds in performing its obligations under this Agreement.
(s)    Notwithstanding references to the Reinsurance Agreement in this Agreement, it is acknowledged and agreed that the Trustee has no interest in, and no duty, responsibility or obligation with respect to, the Reinsurance Agreement (including without limitation, no duty, responsibility or obligation to monitor the Grantor’s or the Beneficiary’s compliance with the Reinsurance Agreement.
(t)    The Trustee shall set up online access to the Trust Account and shall provide each of the Grantor and the Beneficiary with the appropriate access information.
Section 8.    Representations, Warranties and Covenants of the Trustee.  The Trustee represents, warrants and covenants to the Grantor and Beneficiary that:
(a)    The Trustee is a Qualified United States Financial Institution;
(b)    In the ordinary course of its business, the Trustee maintains securities accounts for others and is acting in that capacity in this Trust Agreement;
(c)    The Trust Account is and at all times shall be maintained at an office of the Trustee in the United States of America;
(d)    The Trustee is not an Affiliate of the Grantor or the Beneficiary.
Section 9.    The Trustee’s Compensation; Expenses.
(a)    The Grantor shall pay the Trustee, as compensation for its services under this Trust Agreement, a fee computed at rates agreed to between the Trustee and the Grantor. The Grantor shall pay or reimburse the Trustee for all of the Trustee’s expenses and disbursements in connection with its duties under this Trust Agreement (including reasonable attorney’s fees and expenses), except any such expense or disbursement as may arise from the Trustee’s negligence, willful misconduct, lack of good faith or failure to administer the Trust Account in accordance with the terms of this Trust Agreement if such failure is the result of the Trustee’s negligence, willful misconduct or lack of good faith.  The Grantor hereby agrees to indemnify the Trustee for, and hold it harmless against, any Losses howsoever arising in connection with  this Trust Agreement or the Trustee’s performance of its obligations in accordance with the provisions of this Trust Agreement including  but not limited to any Losses incurred by the Trustee in connection with its successful defense, in whole or part, of any claim of negligence, willful misconduct or lack of good faith on its part or Losses arising out of or in connection with the status of the Trustee and its nominee as 

the holder of record of the Assets, provided, however, that the Trustee shall not be indemnified with respect to Losses caused by the Trustee’s own negligence, willful misconduct or lack of good faith. The Grantor hereby acknowledges that the foregoing indemnities and payment and reimbursement obligations shall survive the resignation or discharge of the Trustee or the termination of this  Agreement.
(b)    The Grantor hereby agrees to indemnify the Trustee for, and hold it harmless against, any Losses or Environmental Damages sustained or incurred by or asserted against the Trustee by reason of or as a result of any action or inaction, or arising out of the Trustee’s performance hereunder, including, without limitation, reasonable attorneys’ and accountants’ fees and expenses incurred by the Trustee in a successful defense of claims by the Grantor or the Beneficiary; provided, however, that the Grantor shall not indemnify the Trustee for those Losses or Environmental Damages arising out of the Trustee’s negligence, willful misconduct or lack of good faith. This indemnity shall be a continuing obligation of the Grantor, its successors and assigns, notwithstanding the termination of this Agreement. 
(c)    The Beneficiary hereby agrees to indemnify the Trustee for, and hold it harmless against, any and all Losses which are sustained by the Trustee by reason of or as a result of any action taken or omitted by the Trustee pursuant to the Beneficiary’s written instructions or notices required or permitted to be given to the Trustee by the Beneficiary hereunder. Notwithstanding the foregoing, the Beneficiary shall not indemnify the Trustee for those Losses caused by the Trustee’s negligence, willful misconduct or lack of good faith. This indemnity shall be a continuing obligation of the Beneficiary and its successors and assigns, notwithstanding the termination of this Agreement.
(d)    If the Grantor is required to pay any amounts to the Trustee pursuant to paragraphs 9(a) or 9(b) above for which the Beneficiary is liable under paragraph 9(c), then the Beneficiary shall, upon demand by the Grantor, promptly reimburse the Grantor for all such amounts.  If the Beneficiary is required to pay any amounts to the Trustee pursuant to paragraph 9(c) above for which the Grantor is liable under paragraphs 9(a) or 9(b), then the Grantor shall, upon demand by the Beneficiary, promptly reimburse the Beneficiary for all such amounts.
(e)    No Assets shall be withdrawn from the Trust Account or used in any manner for paying compensation to, or reimbursement or indemnification of, the Trustee; provided, however, that the Grantor and Beneficiary hereby grant the Trustee a lien, right of set-off and security interest in the funds in the Income Account for the payment of any claim for compensation, reimbursement or indemnity hereunder.
Section 10.    Resignation or Removal of the Trustee.
(a)    The Trustee may resign at any time upon delivery of a written notice thereof to the Beneficiary and to the Grantor effective not less than 90 days after receipt by the Beneficiary and the Grantor of such notice. The Trustee may be removed by prior written notice executed by both the Grantor and Beneficiary. No such resignation or removal shall become effective until a successor Trustee has been appointed and approved by both the Beneficiary and the Grantor and all Assets in the Trust Account have been duly transferred to the successor Trustee in accordance with paragraph (b) of this Section 10.  In the event of the Trustee’s resignation or removal, it agrees to provide 

reasonable assistance in transferring the Assets to any successor Trustee, including executing instruments of conveyance and providing necessary information; provided, however, that the Trustee is assured to its satisfaction, that it will be reimbursed by the Grantor for any cost or expense that it may incur by reason of taking or continuing to take any such action.
(b)    Upon receipt by the proper Parties of the Trustee’s notice of resignation or the Grantor’s and Beneficiary’s notice of removal, the Grantor and the Beneficiary shall appoint a successor Trustee. Any successor Trustee shall be a bank that is a member of the Federal Reserve System and a Qualified United States Financial Institution, and shall not be an Affiliate of the Grantor or the Beneficiary. Upon the acceptance of the appointment as Trustee hereunder by a successor Trustee and the transfer to such successor Trustee of all Assets in the Trust Account, the resignation or removal of the Trustee shall become effective. Thereupon, such successor Trustee shall succeed to and become vested with all the rights, powers, privileges and duties of the resigning or removed Trustee, and the resigning or removed Trustee shall be discharged from any future duties and obligations under this Trust Agreement, but the resigning or removed Trustee shall continue after such resignation or removal to be entitled to the benefits of the indemnities provided herein for the Trustee.
Section 11.    Security Interest in the Assets in the Trust Account.
(a)    Security Interest. The Grantor and the Beneficiary intend that the Trustee, in its capacity as Trustee, is and at all times shall be the registered owner of and holder of legal title to the Trust Account and the Assets. However, to the extent that a court of competent jurisdiction should determine that (1) the Trustee is not the owner of the Trust Account and the Assets, (2) the Trust is not valid, or (3) the transfer of the Assets by the Grantor to the Trust Account is not effective or does not otherwise transfer to the Trust all of the Grantor’s right, title and interest to the Assets, then as further provided in this Section 11 and without any intent to vitiate the creation of an effective trust, the Trust Account shall be deemed to be a “securities account” (within the meaning of Section 8-501(a) of the Uniform Commercial Code as in effect in the State of New York (the “NY UCC”)). All Eligible Investments and other Assets (as defined below) delivered to the Trustee shall be credited to the Trust Account and shall be treated as “financial assets” within the meaning of Section 8-102(a)(9) of the NY UCC.
(b)    The Grantor hereby grants and transfers to the Beneficiary, for the purposes set forth herein, a first priority perfected security interest in, and pledges and assigns to the Beneficiary, all of the Grantor’s right, title and interest in, to and under, whether now existing or hereafter acquired or arising, (i) the Trust Account and all cash and other financial assets credited thereto from time to time including, without limitation, the Assets, and all security entitlements arising therefrom, (ii) all investment property, securities, investments, instruments, cash, mortgage notes and all participation interests in mortgage notes, funds, deposit accounts, general intangibles, accounts, receivables, chattel paper, letter-of-credit rights, documents, goods, real property and all other assets (a) held in or credited to the Trust Account, (b) otherwise conveyed to the Trustee by the Grantor pursuant to this Trust Agreement or (c) purporting to be part of the Assets, and (iii) all proceeds, supporting obligations and all security interests, mortgages or other liens securing any of the foregoing (collectively, the “Collateral”), solely to secure the obligations of the Grantor under the 

Reinsurance Agreement to the Beneficiary and agrees that this Trust Agreement shall constitute a security agreement under all laws, published rules, statutes, regulations, policies and codes and judgments, injunctions, orders, decrees, licenses, permits and all other requirements of governmental entities applicable to the Person, place and situation in question. In furtherance of the preceding sentence, the Trustee acknowledges that all Collateral conveyed to the Trustee is held for the benefit of the Beneficiary for purposes of the security interest granted hereunder and that the Beneficiary shall have “control” (as such term is defined in Articles 8 and 9 of the NY UCC) of the Collateral.  All terms used in this Section 11(a) and not otherwise defined shall have the meaning ascribed to such terms in the NY UCC. In addition, the Grantor hereby (i) authorizes the Beneficiary to file any and all UCC financing statements with respect to the Collateral that are reasonably deemed necessary by the Beneficiary in order to perfect such security interest in the Collateral.
The parties understand and agree that the Trustee is a “securities intermediary” within the meaning of Section 8-102(a)(14) of the NY UCC with respect to the Trust Account and all such financial assets held therein, except with respect to any cash so credited, and in respect of any such cash, the Trust Account shall be deemed to be a “deposit account” (as defined in Section 9-102(a)(29) of the NY UCC) to the extent a security interest can be granted and perfected under the NY UCC in the Trust Account as a deposit account, which the Trustee shall maintain acting not as a securities intermediary but as a “bank” (within the meaning of Section 9-102(a)(8) of the NY UCC). The parties agree that New York shall be deemed to be the “securities intermediary’s jurisdiction” for purposes of Section 8110(e) of the NY UCC. The Grantor may, from time to time, with prior notice to the Beneficiary, establish one or more sub-accounts under the Trust Account, which shall be part of the Trust Account.
(c)    Until receipt by the Trustee from the Beneficiary of a notice (i) stating that an Exclusive Control Event has occurred with respect to the Grantor and (ii) attaching a certification from the Beneficiary of the occurrence of an Exclusive Control Event following, if applicable, a final, valid and binding determination with respect to any Grantor’s challenges to a notification of a “Mandatory Control Level Event” by the Commissioner (the “Notice of Exclusive Control”), the Trustee will comply with notifications it receives directing it to transfer or redeem any Asset in the Trust Account and any other “entitlement order” (as such term is defined in Section 8-102(a)(8) of the NY UCC) originated by the Grantor in accordance with the terms of this Trust Agreement.  The Grantor shall provide notice to the Beneficiary within two (2) Business Days following the occurrence of an Exclusive Control Event, which, if applicable, shall not be until there has been a final, valid and binding determination with respect to any Grantor’s challenges to a notification of a “Mandatory Control Level Event” by the Commissioner.
(d)    In the event the Trustee receives a Notice of Exclusive Control, the Trustee thereafter will (i) immediately cease complying with entitlement orders originated by the Grantor in respect of the Trust Account and any Asset held therein that would otherwise be permitted under Section 2, and (ii) immediately comply with “entitlement orders” originated by the Beneficiary in respect of the Trust Account and any Asset held therein, in each case without further consent of the Grantor. The Beneficiary shall also provide notice to the Grantor of such Notice of Exclusive Control at the same time provided to the Trustee.  

(e)    The Trustee hereby acknowledges the Beneficiary’s security interest in the Collateral granted pursuant to clause (a) above, and will mark its records, by book-entry or otherwise, to indicate the Beneficiary’s security interest in the Collateral and the proceeds thereof. The Trustee has not entered into, and until the termination of this Trust Agreement will not enter into, any agreement with any other Person: (i) which purports to grant any lien or security interest in the Trust Account or any Assets credited thereto, (ii) pursuant to which the Trustee has agreed to comply with entitlement orders of any other Person or otherwise agreed to give “control” over the Trust Account to any other Person or (iii) which purports to limit or condition the obligation of the Trustee to comply with entitlement orders from the Grantor and Beneficiary as set forth in Section 2 hereof. The Trustee hereby waives and releases, for the benefit of the Beneficiary, all liens, encumbrances, claims and rights of setoff the Trustee may have against the Trust Account or any Asset carried in the Trust Account on account of any fees, indebtedness or other obligations owed to the Trustee by the Grantor and agrees that the Trustee will look solely to the Grantor and the Income Account for payment of all such fees, indebtedness or other obligations; provided, that the foregoing shall not prohibit the Trustee from exercising any rights of setoff with respect to amounts which are withdrawn from the Trust Account at the Grantor’s direction in accordance with Section 2 hereof and in compliance with Section 9.6 of the Reinsurance Agreement.
(f)    The Beneficiary agrees that all Assets released from the Trust Account to Grantor or its designee in accordance with the terms and conditions of this Agreement shall be free and clear of any lien, encumbrance or security interest granted by the Grantor pursuant to this Agreement.
Section 12.    Commercial Mortgage Loans
(a)    Except with respect to any Commercial Mortgage Loan withdrawn by the Beneficiary in accordance with the terms hereof, the Grantor shall have the sole and exclusive right, power and authority to service, administer, manage, liquidate, deal with, issue or withhold any consents or waivers, amend, modify, extend, or make any other decisions in respect of any Commercial Mortgage Loans in any manner that it shall choose, subject only to any limitations set forth in this Agreement, the applicable Servicing Agreement or in any other related agreement affecting the Commercial Mortgage Loans, as applicable; provided, that the Trustee shall be entitled to receive on behalf of the Grantor all payments made in respect of the Commercial Mortgage Loans (whether from any servicer, borrower or other Person), including principal and interest payments, proceeds and other income arising from or under such Commercial Mortgage Loans (after retention by the related servicer of such servicer’s expenses, required escrows and reserves to the extent contemplated pursuant to the terms of the applicable loan agreement and Servicing Agreement), as applicable, and to retain, use, enjoy the same subject only to the limitations set forth in this Agreement, the applicable Servicing Agreement and in any other related agreement affecting the Commercial Mortgage Loans.  Except with respect to any Commercial Mortgage withdrawn by the Beneficiary in accordance with the terms hereof, the Grantor shall have the sole and exclusive right, power and authority to make decisions and take other actions in respect of any Commercial Mortgage Loans (and any related Underlying Assets) under any servicing agreement, loan document and any other related agreement affecting the Commercial Mortgage Loans or the related Underlying Assets, in each case, as fully and completely as if this Agreement had not been executed and delivered; provided, however, that the sale, transfer or assignment of any such Commercial Mortgage Loan 

shall only be effectuated by substitution, exchange and withdrawal pursuant to the terms of this Agreement.  The Grantor shall have the exclusive power and authority, acting alone or through sub-servicers, to do any and all things in connection with such servicing, administration, management and liquidation of the Commercial Mortgage Loans which it may deem necessary or desirable to maximize recoveries with respect thereto, subject to the limitations contained in this Agreement and any related agreements.  Without limiting the generality of the foregoing, the Grantor shall continue, and is hereby authorized and empowered hereunder, to prepare and file any and all financing statements, continuation statements and other documents or instruments necessary to maintain the lien on any Underlying Assets.  Notwithstanding anything to the contrary contained in this Agreement, the Trustee shall not date, endorse, record or transfer any Loan Assignment Document except in accordance with the written directions of the Grantor or the applicable investment manager or, upon receipt of a Beneficiary Request for Withdrawal, in accordance with the written direction of the Beneficiary.
(b)    The Trustee (not in its individual capacity but solely as Trustee hereunder), upon receipt of a written request from the Grantor, shall execute and deliver any powers of attorney and other documents provided to it which the Grantor determines, in the exercise of its reasonable judgment, are necessary in order to enable any servicer to carry out its duties under the applicable Servicing Agreement or any other servicing agreement, or to enable the Grantor to take appropriate action in respect of the ownership, assignment, transfer and liquidation of the Commercial Mortgage Loans (and any related Underlying Assets), as applicable, subject to the limitations in this Agreement.  The Trustee acknowledges that the Grantor may (in its sole discretion), from time to time, execute and deliver a limited power of attorney in order to enable a servicer to carry out their duties under the applicable Servicing Agreement relating to any Commercial Mortgage Loan or any related Underlying Assets.  The authority of the Grantor or any servicer shall include the power to (i) enforce, modify, amend, renew or extend the Commercial Mortgage Loans or the Underlying Assets, (ii) grant or withhold any consents or waivers under or in respect of the Commercial Mortgage Loans or the Underlying Assets, (iii) file and collect insurance claims, (iv) release any Underlying Asset or any other collateral or any party from any liability on or with respect to any of the Commercial Mortgage Loans, (v) compromise or settle any claims of any kind or character with respect to any of the Commercial Mortgage Loans, subject to any limitations provided herein, (vi) initiate, complete or otherwise take any action with respect to a foreclosure or deed in lieu of foreclosure, on any of the Underlying Assets, (vii) repair, replace, renovate, restore and improve the Underlying Assets, (viii) negotiate and contract to sell and sell any Commercial Mortgage Loan (including through receipt of a discounted pay-off on such Asset), (ix) commence, continue, negotiate, or settle litigation relating to a Commercial Mortgage Loan or the Underlying Assets, (x) make any servicing or other advances, (xi) act as a mortgagee in possession or receiver or in any other capacity with respect to the Underlying Assets, (xii) exercise any and all rights in respect of the Commercial Mortgage Loans and the Underlying Assets, or (xiii) take any action with respect to any security document securing a Commercial Mortgage Loan, effectuate foreclosure or other conversion of the ownership of any Underlying Asset, including the employment of attorneys, the institution of legal proceedings, the acceptance of compromise proposals, the filing of claims for mortgage insurance, the collection of liquidation proceeds, seeking a receiver, appointing a new property manager and any other matter pertaining to a Commercial Mortgage Loan or an Underlying Asset.  When the Grantor, in the exercise of its reasonable business judgment, finds it appropriate, 

it shall execute and deliver any instruments of satisfaction, cancellation, partial or full release, discharge, transfer and all other comparable instruments, with respect to the related Commercial Mortgage Loan or the Underlying Asset, as applicable, provided that the execution and delivery of such instrument is necessary in order to enable any servicer to carry out its duties under the Servicing Agreements or any related loan document.  Any such action taken by the Grantor shall be subject in all respects to the terms of this Agreement (including, without limitation, Section 4 regarding substitution of Assets in the Trust Account).  The Grantor may exercise all of the powers set forth herein in its own name.  Upon written request of the Grantor, the Trustee shall execute and deliver any documents provided to it and reasonably requested by the Grantor in furtherance of or incidental to any of the foregoing actions.
(c)    The Grantor may retain a professional servicer to service the Commercial Mortgage Loans on its behalf, in furtherance of the Grantor’s exclusive right, power and authority to service, manage and administer the Commercial Mortgage Loans in the Trust Account, upon reasonable advance written notice to but without the approval or consent of the Trustee or the Beneficiary, but subject to the rights in and requirements of the applicable Servicing Agreement, provided that the retention of such servicer shall not relieve the Grantor of any of its obligations and liabilities hereunder.  The Grantor may remove any servicer under any Servicing Agreement pursuant to the terms of the applicable Servicing Agreement or such other servicing agreements and may appoint a successor servicer, without the consent or approval of, but only upon written notice of such removal and appointment to, the Trustee and the Beneficiary.  The Grantor agrees to, and shall use commercially reasonable efforts to cause the servicer to, reasonably cooperate with the Beneficiary to assist with the transfer of servicing responsibilities to the successor servicer appointed by the Beneficiary.  In connection with any withdrawal by Beneficiary, Grantor shall, or shall cause any such servicer to, transfer to the Beneficiary all funds held by Grantor or such servicer with respect to such Commercial Mortgage Loan, including without limitation all collections, reserves and escrows relating to such Commercial Mortgage Loan.
(d)    With the exception of the Loan Assignment Documents to be delivered to the Trustee in accordance with the terms of this Agreement, the servicer shall retain and be charged with maintaining possession of all documentation and files relating to the Commercial Mortgage Loans (the “Servicing File”).  Upon the deposit of any Commercial Mortgage Loan to the Trust Account, (a) the Grantor shall deliver (or cause to be delivered) to the Trustee a letter in the form attached hereto as Exhibit I, executed in blank by an authorized signatory and addressed to the applicable servicer, instructing such servicer to release the Servicing File to the Trustee or to the Beneficiary in accordance with the terms hereof, whenever requested by the Trustee (the “Document Release Letter”), and (b) within thirty (30) calendar days of the date of deposit, the Grantor shall provide the servicer’s list of the documents in the Servicing File to the Trustee and the Beneficiary.  The delivery of the Document Release Letter by the Grantor to the Trustee shall constitute a representation and certification by the Grantor to the Trustee and the Beneficiary that such Document Release Letter is sufficient under the terms of the applicable Servicing Agreement to require the servicer to release the Servicing File to the Trustee without the further consent of the Grantor or any other Person.  The Servicing Agreements shall not be amended, modified or supplemented in any way that adversely impacts the ability of the Trustee to obtain the Servicing File without the prior written consent of the Beneficiary.   As promptly as practicable following the date hereof, and 

in any event within thirty (30) days of the date hereof, the Grantor shall arrange with the servicer to separately designate the Servicing File from other documents held by the servicer for the benefit of the Grantor and provide written notice to the Trustee and the Beneficiary when such access has been arranged.  Such direct access arrangements with the servicer shall not be changed without the consent of the Beneficiary. The Trustee acknowledges that the Beneficiary may instruct the Trustee to withdraw any documents in the Servicing File in accordance with a Beneficiary Request for Withdrawal.
(e)    In order to facilitate the servicing, administration and enforcement of the Commercial Mortgage Loans by or on behalf of the Grantor, and the servicing of the Commercial Mortgage Loans by a servicer, the Grantor (if it is not using a third party servicer) or servicers may temporarily hold collections on such Commercial Mortgage Loans prior to the time they are remitted to the Trustee and may hold physical possession of any related documents or instruments.  Upon written request of the Grantor to the Trustee (with a simultaneous copy to the Beneficiary, provided the Trustee shall not be required to confirm delivery of such copy) pursuant to the terms hereof, the Trustee shall promptly release, deliver or transfer such documents and instruments as may be requested from time to time by the Grantor.  The Trustee and the Grantor hereby acknowledge that the Grantor and the servicers are acting as bailees of the Trustee in holding such monies pursuant to this Agreement (with respect to the Grantor) and the applicable Servicing Agreement, and that the Grantor and the servicers are acting as the Trustee’s bailee in holding any documents or instruments released, delivered or transferred to the Grantor or any servicer pursuant to this Agreement, and any other items constituting a part of the Trust Account which from time to time come into the possession of the Grantor or any servicer; provided, however, the Trustee shall incur no liability whatsoever for any acts of the Grantor and the servicers in their capacity as bailee.
(f)    Each of the Trustee and the Beneficiary hereby acknowledges that the rights and obligations of the Grantor under any Servicing Agreement have not been transferred to or accepted or assumed by the Trustee and are otherwise expressly reserved by and to the Grantor to act on its own behalf and in any manner that it so chooses, without any consent or approval rights on the part of the Trustee or the Beneficiary hereunder, subject to the terms of this Agreement and any related agreement.
(g)    The Grantor hereby acknowledges and agrees that the Trustee shall not have any obligations relating to any future funding commitments in respect of the Assets (including, for the avoidance of doubt, the Commercial Mortgage Loans).
Section 13.    Assets Consisting of Bank Loans.
(a)    The Trustee shall perform the functions set forth in this Section 13 with respect to Assets consisting of Bank Loans and the cash receipts and proceeds with respect thereto.  For the avoidance of doubt, any Bank Loan deposited into the Trust Account shall be an Asset. The Trustee and agrees to (i) forward to the Grantor and Beneficiary any notices received with respect to the Bank Loans; and (ii) include information pertaining to the Bank Loans in the Custody Transmissions delivered in accordance with this Agreement as if such Bank Loans were Commercial Mortgage Loans.

(b)    For each Bank Loan, the Grantor shall deliver or cause to be delivered to the Trustee, the following documents:

(1)    Original allonge executed in favor of the Trustee, attaching the original Note and any prior Note assignment documents or a participation certificate (if available), as applicable; and
(2) Assignment and Assumption Agreement, if any. 
(c)    The Beneficiary shall be solely responsible for delivering or causing to be delivered to the Trustee as soon as reasonably practicable, each and every document required pursuant to this Agreement for each Bank Loan deposited into the Trust as of the Closing Date (as such document is available to it), including with respect to any Bank Loan constituting a participation interest, a participation certificate (if available) and a copy of the applicable participation agreement, and the Trustee shall not be responsible or liable for taking any action to ensure the Beneficiary has complied with its delivery obligation hereunder, causing any other person to do so or notifying the Beneficiary that any such action has or has not been taken.  The Grantor shall be solely responsible for delivering or causing to be delivered to the Trustee as soon as reasonably practicable, each and every document required pursuant to this Agreement for each Bank Loan deposited into the Trust after the Closing Date (as such document is available to it), including with respect to any Bank Loan constituting a participation interest, a participation certificate (if available) and a copy of the applicable participation agreement, and the Trustee shall not be responsible or liable for taking any action to ensure the Grantor has complied with its delivery obligation hereunder, causing any other person to do so or notifying the Grantor that any such action has or has not been taken.  Any such delivery of a Bank Loan to the Trustee shall be accompanied by a certification, signed by the Grantor or the Beneficiary, as applicable, substantially in in the form of Exhibit K, attached hereto (the “Bank Loan Delivery Certification”).  It is understood and agreed that the Trustee will accept any such documents without any independent verification and shall be entitled to rely on the information provided by the Beneficiary or Grantor, as applicable, regarding each Bank Loan.  With respect account statements issues by the Trustee hereunder, it is understood and agreed that such statements will only reflect an inventory of the documents and files that the Trustee holds hereunder with respect to the Bank Loans.  The Grantor shall be solely responsible for servicing the Bank Loans (or causing the Bank Loans to be serviced) in accordance with the terms and conditions of Section 12 of this Trust Agreement (other than those provisions that apply solely to Commercial Mortgage Loans and not Bank Loans).
(d)    The Trustee shall not have any duty or responsibility to provide the Grantor or the Beneficiary with any credit or other information concerning the business, operations, property, condition (financial or otherwise), prospects or creditworthiness of any borrower of any Bank Loan that may come into the possession of the Trustee or any of its officers, directors, employees, agents, attorneys, attorneys-in-fact or affiliates.  The Grantor further acknowledges and agrees that the Trustee shall not have any obligations relating to any future funding commitments in respect of the Assets (including, for the avoidance of doubt, the Bank Loans).

(e)    In order to facilitate the servicing of any Bank Loan, the Grantor shall also have the right, at any time and from time to time, to withdraw from the Trust Account, subject only to three (3) Business Days’ prior written notice from the Grantor to the Trustee and the Beneficiary such Bank Loans as are specified in such Grantor Servicing Notice, which notice shall include a certification by the Grantor to the Trustee and the Beneficiary that the withdrawal of the Bank Loans is required in connection with (i) the pay-off of any Bank Loan, (ii) the sale of a Bank Loan by the Grantor, (iii) the modification, servicing, restructuring, foreclosure or other liquidation of any Loan or (iv) or as may otherwise be required in connection with servicing/administration of the Loan.  If directed by the Grantor or the applicable Investment Manager in the Grantor Servicing Notice delivered in connection with any withdrawal of any Bank Loan pursuant to this Section 13(e) or otherwise in writing, the Trustee shall (A) in its capacity as Trustee and not in its individual capacity, execute and deliver to the Grantor, the applicable Assignment Documents (and any other transfer documents provided to the Trustee for execution in appropriate form), including the original promissory note, and (B) obtain any consents required to effect such withdrawal, and the Trustee shall reasonably cooperate with the Grantor or the Investment Manager in providing any information or documentation necessary to effect such withdrawal (to the extent such information or documentation exists and is in the possession or control of the Trustee).  The Grantor may from time to time designate a third party in a Grantor Servicing Notice to whom the applicable Loan Assignment Documents, including the original promissory Note shall be delivered.  The Grantor Servicing Notice shall include a certification that the proceeds from a transaction of the type described in clause (i) or (ii) of the first sentence of this Section 13(e) will be paid into the Trust Account and that any net cash proceeds from such foreclosure sale or liquidation shall be paid into the Trust Account within three (3) Business Days.  For avoidance of doubt, in the event that the Grantor comes into possession of any cash proceeds, the Grantor acknowledges and agrees (x) that it holds such proceeds in trust for the benefit of the Beneficiary, and (y) that it will transfer such proceeds to the Trust Account as soon as reasonably practical following receipt by the Grantor, except in each case, to the extent that it has previously deposited other Assets into the Trust Account to replace some or all of the value of the withdrawn Bank Loan.  The Trustee shall have no liability or responsibility to verify or determine the occurrence of any event or condition giving rise to the Grantor’s right to withdraw Bank Loans from the Trust Account pursuant to a Grantor Servicing Notice or to monitor the Grantor’s compliance with its obligation to deposit proceeds of any withdrawn Asset, and the Trustee shall be fully protected in relying conclusively on the Grantor Servicing Notice.
Section 14.    Termination of the Trust Account.  This Trust Agreement, except for the indemnities provided herein, may be terminated only after the Grantor and the Beneficiary have given the Trustee joint written notice of their intention to terminate this Trust Agreement and the Trust Account (the “Notice of Intention”). Upon receipt of the Notice of Intention, and without further authorization from the Beneficiary or any other Person, the Trustee shall promptly transfer to the Grantor or the Beneficiary, in accordance with the joint direction of the Grantor and the Beneficiary contained in the Notice of Intention, any and all Assets remaining in the Trust Account, at which time all liability of the Trustee with respect to the Assets so transferred shall cease. This Trust Agreement, except for the indemnities provided herein, and the Trust Account shall terminate when all of the Assets have been so delivered by the Trustee in accordance with the terms of this Trust Agreement.

Section 15.    Definitions.  Except as the context shall otherwise require, the following terms shall have the following meanings for purposes of this Trust Agreement (the definitions to be applicable to both the singular and the plural forms of each term defined if both forms of such term are used in this Trust Agreement):
The term “Affiliate” means any other Person that directly or indirectly controls, is controlled by, or is under common control with, the first Person.
The term “Bank Loan(s)” means any loan (other than a Commercial Mortgage Loan), or any portion thereof, held as an Asset in the Account which, for the avoidance of doubt, may include any participation or syndication interests, provided such interests are (x) obtained in accordance with the applicable loan documents and are subject to a valid participation agreement, if applicable, and (y) are on a pari passu economic basis with the other participants. 
The term “Beneficiary” shall include any successor of the Beneficiary by operation of law including, without limitation, any liquidator, rehabilitator, receiver or conservator.
The term “Binder” means that certain binding commitment agreement, dated as of December 3, 2017, by and among Hopmeadow Acquisition, Inc., the Beneficiary, Hartford Life and Annuity Company, an insurance company organized under the laws of Connecticut, the Grantor and, solely for purposes of Annex A thereto, Hartford Holdings, Inc.
The term “Book Value” means, with respect to any Asset and as of any date of determination, the amount stated for such assets, including accrued interest, on the Grantor’s statutory financial statements determined in accordance with then applicable statutory accounting principles.
The term “Control” (including the related terms “controlled by” and “under common control with”) shall mean the ownership, directly or indirectly, of more than 50% of the voting securities of a corporation.
The term “CML Assignment Document Certification” means a certification substantially in the form of Exhibit J attached hereto.
The term “Commercial Mortgage Loan” means commercial mortgage loans as permitted under the Investment Guidelines and deposited into the Trust Account, which, for the avoidance of doubt, may include any participation interests, provided such interests are (a) obtained in accordance with the applicable loan documents and are subject to a valid participation agreement and (b) are on a pari passu economic basis with the other participants, and may include any commercial mortgage loans evidenced by multiple promissory notes provided such notes are on a pari passu economic basis with other noteholder(s).
The term “Custody Transmission” means, in the case of each Commercial Mortgage Loan or Bank Loan held by the Trustee, a computer-readable transmission containing the following information (and such other data as may be mutually agreed upon in writing by the Grantor and the Trustee), which shall be delivered by the Trustee to the Grantor and the Beneficiary pursuant to Section 1.2(c) of this Agreement and for each Commercial Mortgage Loan shall include: the 

Mortgage Loan Number, Underlying Asset’s address, Mortgagor’s name, and Mortgagor’s address and for each Bank Loan shall include borrower’s name, and borrower’s address.  The Trustee shall incorporate the outstanding principal amount of the Commercial Mortgage Loan or Bank Loan, as applicable, whether or not such Commercial Mortgage Loan or Bank Loan is specially serviced and all other agreed upon data, to the extent provided to the Trustee, into the Custody Transmission.  Each Custody Transmission delivered shall (i) be cumulative, and shall cover all Commercial Mortgage Loans and Bank Loans for which related Loan Assignment Documents are being held by the Trustee on the date of such Custody Transmission, and (ii) include a then-current listing of all Loan Assignment Documents.  The form of the Custody Transmission shall not be modified without the consent of the Parties, not to be unreasonably conditioned, delayed or withheld. 
The term “Eligible Investments” means assets (i) qualifying as admitted assets for life insurance companies under the insurance laws of the State of Connecticut and (ii) complying with the requirements specified by the Investment Guidelines.
The term “Environmental Damages” means any and all claims, Losses, liabilities, damages, fines, penalties, and out-of-pocket costs and expenses (including reasonable attorney’s fees and expenses) of whatever kind or nature, known or unknown, contingent or otherwise, arising out of, or in any way related to (1) the presence, disposal, release or threatened release of any Hazardous Materials which are on, from or affecting soil, water, vegetation, buildings, personal property, persons, animals or otherwise; (2) any personal injury (including wrongful death), property damage (real or personal) or natural resource damage arising out of or related to such Hazardous Materials; (3) any third party claim brought or threatened, settlement reached, government order, or any legal policies or legal requirements having the force of law imposed on the Trustee, which are based upon or in any way related to such Hazardous Materials, including attorney and consultant fees and expenses, investigation and laboratory fees, court costs and litigation expenses; and (4) any violations of Environmental Law.
The term “Environmental Law” means the Comprehensive Environmental Response, Compensation and Liability Act, as amended, the Resource Conservation and Recovery Act of 1976, as amended, and any other applicable federal, state, local, or foreign statute, rule, regulation, order, judgment, directive, decree, permit, license or common law as in effect now, previously, or at any time during the term of this Agreement, and regulating, relating to, or imposing liability or standards of conduct concerning air emissions, water discharges, noise emissions, the release or threatened release or discharge of any Hazardous Material into the environment, the use, manufacture, production, refinement, generation, handling, treatment, storage, transport or disposal of any Hazardous Material or otherwise concerning pollution or the protection of the outdoor or indoor environment, or human health or safety in relation to exposure to Hazardous Materials.
The term “Exclusive Control Event” means that there has been a Mandatory Control Level Event with respect to Grantor within the meaning of section 211 CMR 20.06 of the Massachusetts Insurance Regulations.
The term “Governmental Authority” means any foreign or national government, any state or other political subdivision thereof or any self-regulatory authority, and any entity exercising executive, legislative, judicial, regulatory or administrative functions of or pertaining to government.

The term “Hazardous Materials” means, without limit, any pollutant, contaminant or hazardous, toxic, medical, biohazardous, or dangerous waste, substance, constituent or material, defined or regulated as such in, or for the purpose of, any applicable Environmental Law, including any asbestos, any petroleum, oil (including crude oil or any fraction thereof), any radioactive substance, any polychlorinated biphenyls, any toxin, chemical, disease-causing agent or pathogen, and any other substance that gives rise to liability under any applicable Environmental Law.
The term “Loan Assignment Documents” means, (A) with respect to any whole Commercial Mortgage Loans, (i) an original allonge (“Loan Assignment Allonge”) executed in a form sufficient to properly assign and transfer each original promissory note or notes and any prior transfer documents pertaining to such notes (collectively and severally, the “Note”) evidencing such Commercial Mortgage Loan and attaching the original Note, (ii) one or more original assignment agreements executed in favor of the Trustee (solely in its capacity as Trustee and not in its individual capacity), in recordable form and otherwise in a form sufficient to transfer and assign of record each of the mortgages, deeds of trust, deeds to secure debt or similar instruments securing such Commercial Mortgage Loan (the “Security Instruments”) and each of any separate assignments of rents and leases and similar agreements securing such Commercial Mortgage Loan (the “Lease Assignments”), (iii) UCC-3 assignments or similar assignments in form sufficient to assign each of the financing statements (including fixture filings) required in connection with such Commercial Mortgage Loan (the “Financing Statements”), to the Trustee, and (iv) an original executed omnibus assignment in favor of the Trustee, in form and substance sufficient to transfer to Trustee all of the Grantor’s right, title and interest in and to the Commercial Mortgage Loan to the Trustee, including specifically, without limitation, all of the Grantor’s rights and interests in and to all guaranties, environmental indemnification agreements, security agreements, loan agreements and similar agreements; (B) with respect to any Commercial Mortgage Loans constituting participation interests, (i) an original participation certificate executed in a form sufficient to properly assign such participation interest (the “Participation Certificate”) and (ii) a copy of the applicable participation agreement (the “Participation Agreement”) and (C) with respect to all Commercial Mortgage Loans in subclauses (A) and (B) above, a CML Assignment Document Certification delivered by the Grantor to the Trustee in respect of such Commercial Mortgage Loan; (D) with respect to any Bank Loan such documentation as may be required by the applicable loan, credit agreement or security agreement to effect an assignment of all or part of such Bank Loan including (as applicable) (x) an original allonge (also a “Loan Assignment Allonge”) executed in a form sufficient to properly assign and transfer each original promissory note or notes and any prior transfer documents pertaining to such notes (collectively and severally, the “Note”) evidencing such Bank Loan and attaching the original Note, (y) if any UCC filings exist, UCC-3 assignments or similar assignments in form sufficient to assign each of the financing statements (including fixture filings) required in connection with such Bank Loan (also the “Financing Statements”), to the Trustee, and (z) an original executed omnibus assignment in favor of the Trustee, in form and substance sufficient to transfer to Trustee all of the Grantor’s right, title and interest in and to the Bank Loan to the Trustee, including specifically, without limitation, all of the Grantor’s rights and interests in and to all guaranties, environmental indemnification agreements, security agreements, loan agreements and similar agreements.

The term “Losses” means, collectively, losses, costs, expenses (including reasonable attorney’s fees and expenses), damages, liabilities and claims.
The term “Monthly Reinsurance Settlement Report” has the meaning set forth on Exhibit C attached hereto.
The term “Net Collections” shall mean all principal collections on an Asset, insurance proceeds and condemnation awards arising from or under such Asset, after retention by the related servicer of required escrows and reserves to the extent contemplated pursuant to the terms of the applicable loan agreement and Servicing Agreement.
The term “Person” shall mean and include an individual, a corporation, a partnership, an association, a trust, an unincorporated organization or a government or political subdivision thereof.
The term “Qualified United States Financial Institution” shall mean an institution that (1) is organized, or in the case of a United States branch or agency office of a foreign banking organization, licensed under the laws of the United States or any state thereof and has been granted authority to operate with fiduciary powers; and (2) is regulated, supervised, and examined by federal or state authorities having regulatory authority over banks and trust companies.
The term “Representative” of a Person shall mean the directors, officers, employees, advisors, agents, consultants, independent accountants, investment bankers, counsel or other representatives of such Person and of such Person’s Affiliates.
The term “Servicing Agreement” means any servicing agreement entered into by the Grantor and any third party with respect to any Commercial Mortgage Loan.
The term “Trailing Document” means those Loan Assignment Documents referenced in subclauses (ii) and (iii) of the definition thereof.
The term “Trustee Loan Assignment Documents” means, with respect to (i) any whole Commercial Mortgage Loan, documents substantially similar to the Loan Assignment Documents pertaining to such whole Commercial Mortgage Loan, (and with respect to the allonge, attaching the original Loan Assignment Allonge and Note), (ii) any participated Commercial Mortgage Loan, an original Participation Certificate, and (iii) in either case, any other required transfer documents,  in each case provided to the Trustee by the Person requesting the release of the applicable Commercial Mortgage Loan, for execution in appropriate form.
The term “Underlying Asset” means any property or other asset serving as collateral for any Commercial Mortgage Loan.
Section 16.    Governing Law.  Except for the rights, duties, privileges, immunities and standard of care of the Trustee, which shall be governed by the laws of the State of the New York without regard to its conflict of laws or principles, and as otherwise expressly provided herein, the provisions of and validity and construction of this Trust Agreement and any amendments thereto shall be governed by and construed in accordance with the laws of the State of Connecticut without 

regard to its conflict of laws provision, and the Trust Account created hereunder shall be administered in accordance with the laws of said state. Each of the Parties hereby submits to the personal jurisdiction of and each agrees that all proceedings relating hereto shall be brought in courts located within the City and State of New York.
Section 17.    WAIVER OF JURY TRIAL.  EACH PARTY HERETO HEREBY WAIVES TRIAL BY JURY IN ANY JUDICIAL PROCEEDING INVOLVING, DIRECTLY OR INDIRECTLY, ANY MATTER (WHETHER SOUNDING IN TORT, CONTRACT OR OTHERWISE) IN ANY WAY ARISING OUT OF OR RELATED TO THIS AGREEMENT OR THE RELATIONSHIP ESTABLISHED HEREUNDER. THIS PROVISION IS A MATERIAL INDUCEMENT FOR THE PARTIES TO ENTER INTO THIS AGREEMENT.
Section 18.    Dispute Resolution.  Except as otherwise specifically provided in Section 2(g), or in the event that the Beneficiary delivers a Notice of Exclusive Control to the Trustee, in the event of any dispute between or conflicting claims by or between the Grantor and the Beneficiary and/or any other Person or entity with respect to any Assets, the Trustee shall be entitled, in its sole discretion, to refuse to comply with any and all claims, demands or instructions with respect to such Assets so long as such dispute or conflict shall continue, and the Trustee shall not be or become liable in any way to the Grantor or the Beneficiary for failure or refusal to comply with such conflicting claims, demands or instructions.  The Trustee shall be entitled to refuse to act until, in its sole discretion, either (i) such conflicting or adverse claims or demands shall have been determined by a final order, judgment or decree of a court of competent jurisdiction, which order, judgment or decree is not subject to appeal, or settled by agreement between the conflicting parties as evidenced in a writing satisfactory to the Trustee or (ii) the Trustee shall have received security or an indemnity satisfactory to it sufficient to hold it harmless from and against any and all Losses which it may incur by reason of so acting.  The Trustee may, in addition, elect, in its sole discretion, to commence an interpleader action or seek other judicial relief or orders as it may deem, in its sole discretion, necessary.  The costs and expenses (including reasonable attorneys’ fees and expenses) incurred in connection with such proceeding shall be paid by, and shall be deemed a joint and several obligation of, the Grantor and the Beneficiary.
Section 19.    Successors and Assigns.  This Trust Agreement shall be binding upon and inure to the benefit of the Parties and their respective successors, permitted assigns and legal Representatives. Neither this Trust Agreement, nor any right or obligation hereunder, may be assigned by any Party without the prior written consent of the other Parties hereto. Any assignment in violation of this Section 19 shall be void and shall have no force and effect.
Section 20.    Severability.  If any provision of this Trust Agreement is held to be void or unenforceable, in whole or in part, (i) such holding shall not affect the validity and enforceability of the remainder of this Trust Agreement, including any other provision, paragraph or subparagraph, and (ii) the Parties agree to attempt in good faith to reform such void or unenforceable provision to the extent necessary to render such provision enforceable and to carry out its original intent.
Section 21.    Entire Agreement.  This Trust Agreement constitutes the entire agreement among the Parties with respect to the subject matter hereof, and there are no understandings or 

agreements, conditions or qualifications relative to this Trust Agreement which are not fully expressed in this Trust Agreement or the Reinsurance Agreement.
Section 22.    Amendments.  This Trust Agreement may be modified or otherwise amended, and the observance of any term of this Trust Agreement may be waived, only if such modification, amendment or waiver is in writing and signed by the Parties.
Section 23.    Notices.  All notices, requests, instructions, directions, demands and other communications under this Trust Agreement must be in writing and will be deemed to have been duly given or made as follows: (a) if sent by registered or certified mail in the United States, return receipt requested, or by reputable overnight air courier, upon receipt; (b) if sent by facsimile transmission, with a copy mailed on the same day in the manner provided in (a) above, when transmitted; or (c) if otherwise actually personally delivered, when delivered, and shall be delivered as follows:
If to the Grantor:
Commonwealth Annuity and Life Insurance Company
20 Guest Street
Brighton, MA 02135
Facsimile:  (508) 460-2401
Attention:  Joel Volcy, Managing Director and Chief Operating Officer

With a copy to:

Commonwealth Annuity and Life Insurance Company
20 Guest Street
Brighton, MA 02135
Facsimile:  (508) 460-2401
Attention:  Samuel Ramos, Esq., General Counsel and Secretary

If to the Beneficiary:
Hartford Life Insurance Company
1 Griffin Road North
Windsor, CT 06095
Facsimile: 860-624-0444
Attention: Vice President, Reinsurance

With a copy to:

Hartford Life Insurance Company
1 Griffin Road North
Windsor, CT 06095
Facsimile: 860-624-0441
Attention: General Counsel

If to the Trustee:
Bank of New York Mellon
101 Barclay Street
Mailstop: 101-0700
New York, New York 10286
Attention: Insurance Trust Group 
Facsimile: (732) 667-9536

or to such other address or to such other Person as a Party may have last designated by notice to the other Parties.
Section 24.    Headings.  The headings of the Sections have been inserted for convenience of reference only and shall not be deemed to constitute a part of this Trust Agreement.
Section 25.    Counterparts.  This Trust Agreement may be executed in any number of counterparts, each of which when so executed and delivered shall constitute an original, but such counterparts together shall constitute but one and the same Trust Agreement.
Section 26.    USA Patriot Act.  The Grantor and Beneficiary hereby acknowledge that the Trustee is subject to federal laws, including the Customer Identification Program (“CIP”) requirements under the USA PATRIOT Act and its implementing regulations, pursuant to which the Trustee must obtain, verify and record information that allows the Trustee to identify the Grantor and Beneficiary. Accordingly, prior to opening the Trust Account hereunder, the Trustee will ask the Grantor and Beneficiary to provide certain information including, but not limited to, the Grantor’s and Beneficiary’s name, physical address, tax identification number and other information that will help the Trustee to identify and verify the Grantor’s and Beneficiary’s identity such as organizational documents, certificate of good standing, license to do business, or other pertinent identifying information. Each of the Grantor and Beneficiary agrees that the Trustee cannot open the Trust Account hereunder unless and until the Trustee verifies the Grantor’s and Beneficiary’s identity in accordance with the Trustee’s CIP.
Section 27.    Representations.  Each Party represents and warrants to the others that it has full authority to enter into this Trust Agreement upon the terms and conditions hereof and that the individual executing this Trust Agreement on its behalf has the requisite authority to bind such Party to this Trust Agreement, and that the Trust Agreement constitutes a binding obligation of such Party enforceable in accordance with its terms.
Section 28.    Required Disclosure.  The Trustee is authorized to supply any information regarding the Trust Account and related Assets that is required by any law, regulation or rule now or hereafter in effect. Each of the Grantor and the Beneficiary agrees to supply the Trustee with any required information if it is not otherwise reasonably available to the Trustee, except for information that is subject to the obligation of confidentiality and is not required by the Trustee to comply with any applicable law, regulation or rule now or hereafter in effect.

Section 29.    Shareholder Communication Act, Etc.  With respect to securities issued in the United States, the Shareholders Communications Act of 1985 (the “Act”) requires Trustee to disclose to the issuers, upon their request, the name, address and securities position of its Grantor who are (a) the “beneficial owners” (as defined in the Act) of the issuer’s securities, if the beneficial owner does not object to such disclosure, or (b) acting as a “respondent bank” (as defined in the Act) with respect to the securities. (Under the Act, “respondent banks” do not have the option of objecting to such disclosure upon the issuers’ request.) The Act defines a “beneficial owner” as any Person who has, or shares, the power to vote a security (pursuant to an agreement or otherwise), or who directs the voting of a security. The Act defines a “respondent bank” as any bank, association or other entity that exercises fiduciary powers which holds securities on behalf of beneficial owners and deposits such securities for safekeeping with a bank, such as Trustee. Under the Act, Grantor is either the “beneficial owner” or a “respondent bank.”
[ ] Grantor is the “beneficial owner,” as defined in the Act, of the securities to be held by Trustee hereunder.
 
[ ] Grantor is not the beneficial owner of the securities to be held by Trustee, but is acting as a “respondent bank,” as defined in the Act, with respect to the securities to be held by Trustee hereunder.
IF NO BOX IS CHECKED, TRUSTEE SHALL ASSUME THAT GRANTOR IS THE BENEFICIAL OWNER OF THE SECURITIES.
For beneficial owners of the securities only:
[ ] Grantor objects 
[ ] Grantor does not object to the disclosure of its name, address and securities position to any issuer which requests such information pursuant to the Act for the specific purpose of direct communications between such issuer and Grantor.
IF NO BOX IS CHECKED, TRUSTEE SHALL RELEASE SUCH INFORMATION UNTIL IT RECEIVES A CONTRARY WRITTEN INSTRUCTION FROM GRANTOR.
With respect to securities issued outside of the United States, information shall be released to issuers only if required by law or regulation of the particular country in which the securities are located.
The Grantor agrees to disseminate in a timely manner any proxies or requests for voting instructions, other proxy soliciting material, information statements, and/or annual reports that it receives to any other beneficial owners.
Section 30.    Information Sharing.
The Bank of New York Mellon Corporation is a global financial organization that operates in and provides services and products to clients through its affiliates and subsidiaries located in multiple jurisdictions (the “BNY Mellon Group”). The BNY Mellon Group may (i) centralize in one or more affiliates and subsidiaries certain activities (the “Centralized Functions”), including audit, accounting, administration, risk management, legal, compliance, sales, product communication, relationship management, and the compilation and analysis of information and 

data regarding Grantor and Beneficiary (which, for purposes of this provision, is the name and business contact information for the Grantor and Beneficiary’s employees and Representatives) and the accounts established pursuant to this Agreement (“Grantor and Beneficiary Information”) and (ii) use third party service providers to store, maintain and process Grantor and Beneficiary’s Information (“Outsourced Functions”). Notwithstanding anything to the contrary contained elsewhere in this Agreement and solely in connection with the Centralized Functions and/or Outsourced Functions, Grantor and Beneficiary consent to the disclosure of, and authorize the BNY Mellon Group to disclose, Grantor and Beneficiary’s Information to (i) other members of the BNY Mellon Group (and their respective officers, directors and employees) and to (ii) third-party service providers (but solely in connection with Outsourced Functions) who are required to maintain the confidentiality of Grantor and Beneficiary’s Information in furtherance of the Trustee’s performance of its obligations hereunder. In addition, the BNY Mellon Group may aggregate Grantor and Beneficiary’s Information with other data collected and/or calculated by the BNY Mellon Group, and the BNY Mellon Group will own all such aggregated data, provided that the BNY Mellon Group shall not distribute the aggregated data in a format that identifies Grantor and Beneficiary Information with Grantor and Beneficiary specifically.  Grantor and Beneficiary also consent to the disclosure of Grantor and Beneficiary’s Information to governmental and regulatory authorities in jurisdictions where the BNY Mellon Group operates and otherwise as required by law.
Section 31.    Successors and Assigns of Trustee.
Any corporation or other company into which the Trustee may be merged or converted or with which it may be consolidated, or any corporation or other company resulting from any merger, conversion or consolidation to which the Trustee shall be a party, or any corporation or other company succeeding to the business of the Trustee shall be the successor of the Trustee hereunder without the execution or filing of any paper with any party hereto or any further act on the part of any of the parties hereto, except where an instrument of transfer or assignment is required by law to effect such succession, anything herein to the contrary notwithstanding.

IN WITNESS WHEREOF, the parties hereto have caused this Trust Agreement to be executed and delivered by their respective officers thereunto duly authorized as of the date first above written.
COMMONWEALTH ANNUITY AND LIFE 
INSURANCE COMPANY, as Grantor

By:     
Name: 
Title:

HARTFORD LIFE INSURANCE COMPANY, as Beneficiary

By:     
Name:   
Title:

THE BANK OF NEW YORK MELLON, as Trustee

By:     
Name:   
Title:

SCHEDULE I
INITIAL DEPOSIT
[see attached]

EXHIBIT A
BENEFICIARY REQUEST FOR WITHDRAWAL
The undersigned, the [insert position] and [insert position], each a duly authorized officer of Hartford Life Insurance Company (“Beneficiary”), do hereby certify that, pursuant to Section 2 of the Trust Agreement dated as of [  ], 2018, entered into by and among Beneficiary, Commonwealth Annuity and Life Insurance Company (“Commonwealth”) and The Bank of New York Mellon (the “Trustee”) (the “Trust Agreement”) and the Annuity Reinsurance Agreement dated as of [  ], 2018, between Beneficiary and Commonwealth (the “Reinsurance Agreement”), Beneficiary is entitled to withdraw from the Trust Account (as defined in the Trust Agreement) established by Commonwealth for the benefit of Beneficiary pursuant to the Trust Agreement, Assets with a current fair market value equal to $[_______] for the purpose[s] specified in Section 9.8(a)  of the Reinsurance Agreement.
[Certification to specify the basis for the withdrawal.]
Beneficiary hereby requests that the Trustee immediately transfer to Beneficiary all right, title and interest in those Assets set forth on Schedule A attached hereto (which Assets have a fair market value equal to $[_____]) from the Trust Account established by Commonwealth for  the benefit of Beneficiary pursuant to the Trust Agreement. [Insert transfer instructions.]  
[If Bank Loans—[The Trustee is instructed to deliver to the Beneficiary the Loan Assignment Documents applicable to Loan No. ____________]  OR [The Trustee is instructed to endorse, date and transfer the applicable Loan Assignment Documents or other transfer documents attached hereto to the Beneficiary]].

This Certificate is a “Beneficiary Request for Withdrawal” within the meaning of Section 2(a) of the Trust Agreement.
Please notify the Grantor within two (2) Business Days of delivery of the withdrawn Assets.

	
		
	 
	HARTFORD LIFE INSURANCE COMPANY

	 
	 

	 
	 

	Dated:
	 

	 
	Name:

	 
	Title:

	 
	 

	 
	 

	Dated:
	 

	 
	Name:

	 
	Title:

cc: Grantor

EXHIBIT B
GRANTOR REQUEST FOR WITHDRAWAL
The undersigned, the [insert position] and a duly authorized officer of Commonwealth Annuity and Life Insurance Company (“Commonwealth”), does hereby request that, pursuant to Section 2 of the Trust Agreement dated as of [___], 2018, entered into by and among Hartford Life Insurance Company (“Beneficiary”), Commonwealth and The Bank of New York Mellon (the “Trustee”) (the “Trust Agreement”) and the Annuity Reinsurance Agreement dated as of [___], 2018, between Beneficiary and Commonwealth (the “Reinsurance Agreement”), Commonwealth withdraw from the Trust Account (as defined in the Trust Agreement) established by Commonwealth for the benefit of Beneficiary pursuant to the Trust Agreement, Assets with a current fair market value equal to $[_____]. 
[Commonwealth hereby directs the Trustee to immediately deliver to Beneficiary cash in the amount of $[_____].  Commonwealth hereby attaches a copy of the applicable Monthly Reinsurance Settlement Report and hereby certifies that the conditions described in Section 9.6 of the Reinsurance Agreement and Section 2(d)(i) of the Trust Agreement have been met.] [Note:  for use if the proviso set forth in Section 9.6 applies.]
[Commonwealth hereby directs the Trustee to deliver to [Commonwealth or its designee] [the Assets specified below] [and] [cash in the amount of $[_____], immediately following the fifth (5th) Business Day after the date hereof unless Beneficiary shall have objected to such withdrawal in writing within such five (5) Business Day period.] [Note:  for use if the proviso set forth in Section 9.6 does not apply.]
[Insert transfer instructions]
This Certificate is a “Grantor Request for Withdrawal” within the meaning of Section 2(c) of the Trust Agreement.
Please notify the Beneficiary within two (2) Business Days of delivery of the withdrawn Assets.
	
		
	 
	COMMONWEALTH ANNUITY AND LIFE INSURANCE COMPANY

	 
	 

	 
	 

	Dated:
	 

	 
	Name:

	 
	Title:

With copy to:  [Note:  for use if the proviso set forth in Section 9.6 does not apply.]
Hartford Life Insurance Company
[Address]
Facsimile:

Attention:
EXHIBIT C

PROVISIONS OF THE REINSURANCE AGREEMENT

Set forth below is the text of the provisions of the Reinsurance Agreement that are referenced in this Agreement.

Section 8.1.  
Recapture Events.  Each of the following shall constitute a “Recapture Event”:
(a)     (i) the Reinsurer ceases to or fails to be solvent, or generally fails to pay, or admits in writing its inability to pay, its debt as they become due, subject to applicable grace periods, (ii) the Reinsurer initiates or commences the appointment of a receiver, trustee, custodian, conservator, liquidator, mortgagee in possession (or agent therefor), or other similar Person for itself or for all or substantially all of its assets, (iii) the Reinsurer becomes subject to any liquidation, insolvency, rehabilitation, conservation, supervision or similar proceeding against the Reinsurer by a Governmental Authority having jurisdiction over the Reinsurer, or (iv) the Reinsurer takes any action to effectuate or authorize any of the foregoing;
(b)     (A) the Reinsurer fails to (1) fund the Trust Account for any amounts not subject to a good faith dispute that are required to be deposited therein by the Reinsurer in accordance with Section 9.5 and with the terms of the Trust Agreement, or (2) perform or observe any of the material terms and conditions of this Agreement or the Trust Agreement, including a failure to pay the Company any amount due under this Agreement that is not subject to a good faith dispute; and (B) any such failure continues for twenty (20) Business Days after the date on which the Reinsurer becomes aware of such failure, including, but not limited to, the date on which the Company notifies the Reinsurer in writing of such failure, it being understood that a breach by the Reinsurer of Section 14.1 or Section 14.2, or any representation or warranty contained in this Agreement shall not constitute a Recapture Event; 
(c)    with respect to a recapture of solely the Reinsured Contracts retroceded to the Retrocessionaire, if applicable and if any, the Retrocessionaire fails to perform or observe any of the material terms and conditions of the Retrocession Trust Agreement and such failure continues for twenty (20) Business Days after the expiration of any applicable cure period in the Retrocession Trust Agreement;
(d)    a Reinsurance Credit Event continues for the lesser of (x) ninety (90) calendar days and (y) the period from inception of such Reinsurance Credit Event to the “as of” date of the Company’s next statutory financial statement, and the Reinsurer has not taken action which would enable the Company to receive full statutory financial statement credit for reinsurance ceded to the Reinsurer under this Agreement, and the Company has acted in compliance with its obligations under Section 17.1(c); or
(e)    (i) the Reinsurer’s RBC Ratio is below [REDACTED] in any quarterly period and (ii) the Reinsurer has not within thirty (30) calendar days of such shortfall provided the Company with 

evidence reasonably satisfactory to the Company that the Reinsurer has either (i) restored its RBC Ratio to [REDACTED]  or (ii) entered into a letter of intent whereby the Reinsurer and an affiliated insurance company agree to effect a novation causing this Agreement to be novated to such an affiliated insurance company that has capital in excess of [REDACTED]  and an RBC Ratio (or the local equivalent if not a U.S. entity) in excess of [REDACTED], subject only to obtaining any required regulatory and third party consents.  Such affiliated insurance company must either be authorized in the domiciliary state of the Company (provided that such domiciliary state is a jurisdiction with substantially similar requirements as the Company’s domiciliary state as of the Closing Date) or provide collateral, sufficient to provide the Company full financial statement credit, in accordance with the credit for reinsurance requirements of the domiciliary state of the Company (provided that such domiciliary state is a jurisdiction with substantially similar requirements as the Company’s domiciliary state as of the Closing Date). If regulatory and third party consents are not obtained within thirty (30) calendar days of the date of the letter of intent, then the Company may immediately recapture the Reinsured Contracts.
Each calendar quarter, the Reinsurer shall provide to the Company the RBC Ratio of the Reinsurer calculated in accordance with then Applicable Law and Schedule H, (i) based on the Reinsurer’s good faith estimate as of the last day of such calendar quarter (other the last quarter of a calendar year), using, to the extent any factors are not reasonably available, hypothetical amounts derived from reasonable estimation and annualization or (ii) calculated by the Reinsurer as of such calendar year, as applicable.  Each such calculation shall include reasonable supporting detail with respect to such calculation.
The Reinsurer will notify the Company promptly in writing, in reasonable detail, of any Recapture Event or any event or circumstance it becomes aware of that, with the giving of notice or the passage of time, would reasonably be expected to constitute a Recapture Event.  The Company will notify the Reinsurer promptly in writing, in reasonable detail, upon becoming aware of a Recapture Event or any event or circumstance that, with the giving of notice or the passage of time, would reasonably be expected to constitute such a Recapture Event.

Section 9.5.  
Rebalancing the Trust Account.  If the Trust Account Balance as of the end of any calendar month after the Closing Date is less than (x) the Required Balance as set forth in the statement contemplated by Section 6.2(b) for such calendar month, minus if applicable, amounts withdrawn by the Company in accordance with Section 9.8 that are subject to a good faith dispute, provided that such reduction shall only be permitted to the extent that such disputed amount has not already been reflected in the NAIC Reserves incorporated in the Required Balance, minus (y) if applicable, the Retrocession Trust Account Balance (if any) as set forth in such statement, then, unless such shortfall shall have been cured by assets deposited into the Retrocession Trust Account, the Reinsurer shall deposit additional Eligible Trust Account Assets into the Trust Account within fifteen (15) Business Days following the date such shortfall is determined so that the Trust Account Balance is no less than the Required Balance set forth in such statement, minus if applicable, amounts withdrawn by the Company in accordance with Section 9.8 that are subject to a good faith dispute, provided that such reduction shall only be permitted to the extent that such disputed amount has not already been 

reflected in the NAIC Reserves incorporated in the Required Balance, minus if applicable, the Retrocession Trust Account Balance (if any) set forth in such statement; provided, however, that as of and after the occurrence of a Reinsurance Credit Event and provided that a statutory trust is put in place to secure reinsurance credit in accordance with Section 17.1, for purposes of any provision of this Agreement, if applicable, the Retrocession Trust Account Balance shall not be subtracted for purposes of the calculations under the preceding sentence other than, if applicable, amounts withdrawn by the Company in accordance with Section 9.8 that are subject to a good faith dispute, provided that such reduction shall only be permitted to the extent that such disputed amount has not already been reflected in the NAIC Reserves incorporated in the Required Balance.  Without limiting the foregoing, if an asset in the Trust Account no longer qualifies as an Eligible Trust Account Asset, then, within fifteen (15) Business Days following the date on which the Reinsurer becomes aware of such circumstance, the Reinsurer shall replace such asset with one or more Eligible Trust Account Assets in accordance with Section 9.7.  Notwithstanding the foregoing, should any asset in the Trust Account become impaired under SAP the Reinsurer shall, as promptly as practicable but in no event later than five (5) Business Days following the date on which the Reinsurer becomes aware of such circumstances, deposit or substitute additional assets constituting Eligible Trust Account Assets in accordance with this Section 9.5 or Section 9.7, to the extent required such that the Trust Account Balance is no less than the balance required as of the end of the month preceding the month in which the impairment occurred. 

Section 9.6.  
Trust Account Withdrawals.  If, as of any month end on and after the Closing Date, (x) the Trust Account Balance exceeds the Required Balance, minus if applicable, amounts withdrawn by the Company in accordance with Section 9.8 that are subject to a good faith dispute, provided that such reduction shall only be permitted to the extent that such disputed amount has not already been reflected in the NAIC Reserves incorporated in the Required Balance, minus (y) if applicable, the Retrocession Trust Account Balance (if any), then within ten (10) Business Days after the Reinsurer’s receipt of a Monthly Reinsurance Settlement Report for such month end, the Reinsurer may make a written demand to the Trustee to release to the Reinsurer assets in the Trust Account and the Trustee shall release such assets, subject to the Company’s prior written consent, which consent shall be granted if all of the following conditions and those set forth in clause (x) above are satisfied after any such withdrawal and shall be deemed granted if the Company has not provided the Reinsurer and Trustee a written response within five (5) Business Days of receipt of Reinsurer’s written demand: (a) no Recapture Event has occurred and is continuing (unless a recapture in respect of such Recapture Event is no longer exercisable); (b) the Book Value, including accrued interest for so long as such interest is credited by the Trustee, of the Trust Account assets shall be no less than the Required Balance, minus if applicable, amounts withdrawn by the Company in accordance with Section 9.8 that are subject to a good faith dispute, provided that such reduction shall only be permitted to the extent that such disputed amount has not already been reflected in the NAIC Reserves incorporated in the Required Balance, minus if applicable, the Retrocession Trust Account Balance (if any) after such withdrawal; and (c) all the assets held in the Trust Account after such withdrawal are Eligible Trust Account Assets; provided, however, that with respect to any withdrawal and transfer of cash in connection with the payment by the Reinsurer of an amount specified in a Monthly Reinsurance Settlement Report, if the conditions in (x) and (a) through (c) are all met, the Reinsurer 

may direct the Trustee to release such cash to the Company without prior notice to or approval by the Company, upon presentation to the Trustee of (i) a copy of the applicable Monthly Reinsurance Settlement Report delivered by the Company to the Reinsurer and (ii) a certification to the Trustee, with a copy to the Company, that such conditions are met.
Section 9.7.  
Substitution of Assets.  The Reinsurer shall have the right to instruct the Trustee to substitute or exchange assets contained within the Trust Account provided that (i) the replacement assets are Eligible Trust Account Assets; (ii) the replacement assets shall be deposited in the Trust Account on the same day of substitution or exchange, (iii) the aggregate Book Value, including accrued interest for so long as such interest is credited by the Trustee, of the replacement assets are at least equal to the aggregate Book Value, including accrued interest for so long as such interest is credited by the Trustee, of the assets being removed from the Trust Account; and (iv) the aggregate Fair Market Value, including accrued interest for so long as such interest is credited by the Trustee, of the replacement assets is at least equal to the aggregate Fair Market Value, including accrued interest for so long as such interest is credited by the Trustee, of the assets being removed from the Trust Account.
Section 9.8(a).  
Permitted Use of Trust Account Assets.
(a)  The Company shall be permitted to withdraw assets from the Trust Account only if (x) a Recapture Event has occurred and is continuing and (y) the Reinsurer has not paid an amount in full that is due and owing to the Company under this Agreement and any applicable payment period respect thereof; and then only for one or more of the following purposes: (1) to pay, or reimburse the Company for, amounts due, but not yet recovered from, the Reinsurer under this Agreement in order to satisfy liabilities of the Reinsurer under this Agreement; and (2) to pay expenses relating to the withdrawal, liquidation or enforcement of legal rights with respect to the Trust Account assets to the extent such amounts are not being disputed by the Reinsurer in good faith.

Form of Monthly Reinsurance Settlement Report.  [see attached]

EXHIBIT D
CERTIFICATION OF WITHDRAWAL
The undersigned, the [insert position] and a duly authorized officer of Commonwealth Annuity and Life Insurance Company (“Commonwealth”), does hereby certify that, pursuant to Section 2 of the Trust Agreement dated as of [___], 2018, entered into by and among Hartford Life Insurance Company (“Beneficiary”), Commonwealth and The Bank of New York Mellon (the “Trustee”) (the “Trust Agreement”) and the Annuity Reinsurance Agreement dated as of [___], 2018, between Beneficiary and Commonwealth (the “Reinsurance Agreement”), Commonwealth has withdrawn from the Trust Account (as defined in the Trust Agreement) established by Commonwealth for the benefit of Beneficiary pursuant to the Trust Agreement, Assets with a current fair market value equal to $[_____].  Commonwealth hereby attaches a copy of the applicable Monthly Reinsurance Settlement Report and hereby certifies that the conditions described in Section 9.6 of the Reinsurance Agreement have been met. 

	
		
	 
	COMMONWEALTH ANNUITY AND LIFE INSURANCE COMPANY

	 
	 

	 
	 

	Dated:
	 

	 
	Name:

	 
	Title:

 
 
EXHIBIT E
CERTIFICATION OF WITHDRAWAL
The undersigned, the [insert position] and a duly authorized officer of Hartford Life Insurance Company (“Hartford”), does hereby certify that, pursuant to Section 2 of the Trust Agreement dated as of [___], 2018, entered into by and among [___] (“Grantor”), Hartford and The Bank of New York Mellon (the “Trustee”) (the “Trust Agreement”) and the Annuity Reinsurance Agreement dated as of [___], 2018, between Grantor and Hartford (the “Reinsurance Agreement”), Hartford has withdrawn from the Trust Account (as defined in the Trust Agreement) established by Grantor for its benefit pursuant to the Trust Agreement, Assets with a current fair market value equal to $[_____].  Hartford hereby certifies that the conditions described in Section 9.8(a) of the Reinsurance Agreement have been met. 

	
		
	 
	HARTFORD LIFE INSURANCE COMPANY

	 
	 

	 
	 

	Dated:
	 

	 
	Name:

	 
	Title:

EXHIBIT F
INVESTMENT GUIDELINES

Capitalized terms used in these Investment Guidelines that are not defined herein shall have the meanings ascribed to such terms in the Reinsurance Agreement.  

The Reinsurer shall have full authority to buy and sell investments for the Trust Account unless specifically limited or restricted by these investment guidelines or by the insurance laws and regulations of the State of Connecticut or the Commonwealth of Massachusetts (as in effect from time to time) (for purposes of this Exhibit 4, “Insurance Laws”).  The foregoing summary is intended to serve as a guide and any and all investments must (i) comply with the more restrictive of such Insurance Laws, including, but not limited to, Conn. Gen. Statute Section 38a-102c and Massachusetts Ins. Code Section 175:63 and (ii) be considered “admitted assets” under the Insurance Laws.  For purposes of applying these guidelines, the assets held in the Trust Account will be considered all of the assets of a life insurance company writing the Reinsured Contracts.
In addition, the Reinsurer may not incur indebtedness (through margin or otherwise) in the Trust Account; provided that, for the avoidance of doubt, this limitation shall not prohibit the Reinsurer from acquiring investments or instruments otherwise permitted pursuant to these investment guidelines.
Investment Limits
All limits referred to herein are with respect to statutory book value. 

	
			
	Asset Class Limitations
	 
	Limit

	US obligations
	 
	 [REDACTED]

	US state/municipal obligations
	 
	 [REDACTED]

	US agency obligations
	 
	 [REDACTED]

	Canadian municipal and agency obligations
	 
	 [REDACTED]

	NAIC 1-2 corporate bonds
	 
	 [REDACTED]

	Total financial companies/banks obligations
	 
	 [REDACTED]

	NAIC 1-2 structured securities
	 
	 [REDACTED]

	Common stock/futures/LPs
	 
	 [REDACTED]

	Investments in affiliates
	 
	 [REDACTED]

	Emerging markets
	 
	 [REDACTED]

	Qualified mortgage loans
	 
	 [REDACTED]

	Cash & repo
	 
	 [REDACTED]

	Obligations to all foreign countries rated lower than AA
	 
	 [REDACTED]

	Aggregate foreign obligations and investments (regardless of rating)
	 
	 [REDACTED]

	Tangible investments, non-income producing real estate & portion of loan secured by unqualified mortgage loans
	 
	 [REDACTED]

	Securities registered under Securities Act of 1933 not rated NAIC 1-2
	 
	 [REDACTED]

	
			
	Limitations on Obligations With Ratings from the SVO of the NAIC
	 
	Limit

	NAIC 3-6
	 
	 [REDACTED]

	NAIC 4-6
	 
	 [REDACTED]

	NAIC 5-6
	 
	 [REDACTED]

	NAIC 6
	 
	 [REDACTED]

	
			
	Concentration Limits in Single Obligor
	 
	Limit

	Issued or guaranteed by any agency, state, development bank (excl. general obligations of any state)
	 
	 [REDACTED]

	NAIC 1-2 (maturity greater than 1yr)
	 
	 [REDACTED]

	NAIC 3-6
	 
	 [REDACTED]

	NAIC 4-6
	 
	 [REDACTED]

	Securities registered under Securities Act of 1933 not rated NAIC 1-2
	 
	 [REDACTED]

	Obligations to each foreign country rated AA or higher
	 
	 [REDACTED]

	Obligations to each foreign country rated lower than AA
	 
	 [REDACTED]

	Common stock, LP interest or other equity interests (incl. preferred stock) in single institution
	 
	 [REDACTED]

	Real Estate investment or other tangible investment
	 
	 [REDACTED]

EXHIBIT G
Form of Substitution Notice

[DATE]

The Bank of New York Mellon
101 Barclay Street
Mailstop: 101-0850
New York, New York 10286
Attention: Insurance Trust

		
	Re:
	Substitution Notice re Trust Agreement dated as of ___________, by and among Commonwealth Annuity and Life Insurance Company, (the “Grantor”), Hartford Life Insurance Company, (the “Beneficiary”), and The Bank of New York Mellon, (the “Trustee”), as amended, supplemented or otherwise modified (the “Trust Agreement”).

Capitalized terms shall have the meanings ascribed to them in the Trust Agreement.  We hereby direct you pursuant to Section 4(c) of the Trust Agreement to substitute the Assets identified in paragraph 1 below for the Assets currently deposited in the from the Trust Account and identified in paragraph 2 below:
1.    [Specify list of substitute Assets to be received][CUSIP]
2.    [Specify list of Assets to be substituted][CUSIP]
We hereby certify that (i) the assets to be deposited in the Trust Account are Eligible Investments, (ii) the aggregate Book Value of the substitute Assets are greater than or equal to the aggregate Book Value of the Assets being replaced and (iii) have an aggregate fair market value greater than or equal to the aggregate fair market value of the Assets being replaced.
Promptly return the substituted Assets to [Grantor] as follows:
[Specify delivery instructions]
Very truly yours,

[Grantor][Investment Manager]

By: _________________________
Name:
Title:
cc:    Beneficiary

EXHIBIT H
FORM OF GRANTOR SERVICING NOTICE

From:    Commonwealth Annuity and Life Insurance Company (“Grantor”)
To:    The Bank of New York Mellon (“Trustee”)
cc:    Hartford Life Insurance Company (“Beneficiary”) 
Date:    [  ]
		
	Re:
	Grantor Servicing Notice

We refer to Section 4(j) of the Trust Agreement. All capitalized terms used herein and not otherwise defined herein shall have the meanings set forth in the Trust Agreement.

We hereby (i) certify that (a) the transfer of the following [Asset or Assets] is required in connection with [the pay-off of the following Commercial Mortgage Loan/Bank Loan] / [the sale of the following Commercial Mortgage Loan/Bank Loan by the Grantor] / [the restructuring, foreclosure, deed-in-lieu or other liquidation of the following defaulted Commercial Mortgage Loan/Bank Loan] and (b) that the proceeds from the transfer of such [Asset or Assets] will be paid to the Trustee within three (3) Business Days, and (ii) give you notice that we are exercising our right withdraw the following [Assets or Assets] from the Trust Account.  
Please deliver the following [Asset or Assets] to or for the account of the Person named below at the address specified below:
[The Trustee is instructed to deliver to the Grantor the undated Loan Assignment Documents and original promissory note applicable to Commercial Mortgage Loan No. ____________].
[The Trustee is instructed to deliver to the Grantor the undated Loan Assignment Documents and original promissory note applicable to [Identify Loan]].
You shall not take any action under this notice until the passage of three (3) Business Days from your receipt hereof.

GRANTOR
By:              
    Name:     
    Title:    

EXHIBIT I
FORM OF DOCUMENT RELEASE LETTER

		
	[Servicer]
	Date:             

		
	Re:
	Servicing Agreement dated as of [______], between [Servicer] for Commonwealth Annuity and Life Insurance Company, and affiliate organizations, as the Owner.  Trust Account No. [________] 

In connection with the administration of the below commercial mortgage loan(s) serviced by you and the servicing file related thereto held by you as the Servicer on behalf of the Owner, we request and authorize the release of the servicing file for the [Loan] described below to the Bank of New York Mellon as Trustee (the “Trustee”) under the Trust Agreement dated [____] among Commonwealth Annuity and Life Insurance Company, [●] (the “Beneficiary”), or to the Beneficiary, in each case upon request of the Trustee.  Capitalized terms used herein and not otherwise defined shall have the meanings set forth in the Servicing Agreement.

Borrower’s Name:        
Property Name & Address:    

Loan Number:                

Note Amount:            

Mortgage Dated:        

Ship To:  
___________________________________________
___________________________________________
___________________________________________
___________________________________________

Reason for Requesting Documents (check one):
X Asset Loan to be: Sold, Transferred or Otherwise Liquidated – Date:    

If all or part of the servicing file was previously released to us, please release to us previous correspondence related thereto on file with you, as well as any additional documents in your possession relating to the specified [Loan].

Commonwealth Annuity and Life Insurance
Company

By:                    
Name/Title:    ____________________

                
The undersigned Servicer hereby acknowledges its agreement to deliver the Servicing File to .

[Servicer]

By:                    
                        

EXHIBIT J
FORM OF CML ASSIGNMENT DOCUMENT CERTIFICATION

From:    [Commonwealth Annuity and Life Insurance Company (“Grantor”)/[●] (“Beneficiary)]
To:    The Bank of New York Mellon (“Trustee”)
cc:    [Hartford Life Insurance Company (“Beneficiary”)/ Commonwealth Annuity and Life Insurance Company (“Grantor”)]
Date:    [  ]
Re:    CML Assignment Documentation Certification: Trust Account No. [___________]
We hereby certify that, in connection with the deposit of [Identify Commercial Mortgage Loan] into the Trust Account, the following documents and instruments are being provided to the Trustee: 
i.            [Original allonge executed in favor of the Trustee, attaching the original Note and any prior Note assignment documents
		
	ii.        
	Copies of the Assignment of the [[Mortgage]/Loan/[Deed of Trust] and Assignment of Leases and Rents] executed in favor of the Trustee 

iii.            Copies of the UCC-3 assignments of Secretary of State Filings and Fixture Filings, as to the Trustee
iv.           Original Omnibus Assignment Agreement in favor of the Trustee, executed in favor of the Trustee]
v.    [Original Participation Certificate and a copy of the Participation Agreement]
vi.    Original Document Release Letter

All capitalized terms used herein and not otherwise defined herein shall have the meanings set forth in the Trust Agreement.

[GRANTOR]/[BENEFICIARY]
By:              
    Name:     
    Title:

EXHIBIT K
Form of Bank Loan Delivery Certification

From:    [Commonwealth Annuity and Life Insurance Company (“Grantor”)/[●] (“Beneficiary)]
To:    The Bank of New York Mellon (“Trustee”)
cc:    [Hartford Life Insurance Company (“Beneficiary”)/ Commonwealth Annuity and Life Insurance Company (“Grantor”)]
Date:    [  ]
Re:    Bank Loan Delivery Certification: Trust Account No. [___________]
We hereby certify that, in connection with the deposit of the [Bank Loan identifying information] into the Trust Account, the following Loan Documents are contained in the Loan Document File, and we further certify that such documents and instruments are accurate and complete: 

i.            Original allonge executed in favor of the Trustee, attaching the original Note and any prior Note assignment documents
ii.        [Copies of the UCC-3 assignments of Secretary of State Filings and Fixture Filings, as to the Trustee]
iii.           Original Omnibus Assignment Agreement in favor of the Trustee, executed in favor of the Trustee]
___    __________________________________________________________

Yours faithfully,

[GRANTOR]/[BENEFICIARY]

By:         
Name: 
Title:

EXHIBIT 2
FORM OF RETROCESSION TRUST AGREEMENT
[see attached]

THE USE OF THE FOLLOWING NOTATION IN THIS EXHIBIT INDICATES THAT THE CONFIDENTIAL PORTION HAS BEEN OMITTED PURSUANT TO A REQUEST FOR CONFIDENTIAL TREATMENT AND THE OMITTED MATERIAL HAS BEEN FILED SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION: [REDACTED]

Exhibit 2
TRUST AGREEMENT 1 
This TRUST AGREEMENT, dated [___], 2018 (this “Agreement”), among Commonwealth Annuity and Life Insurance Company, an insurance company organized under the Laws of the State of Massachusetts (the “Beneficiary”), [___], a life insurance company organized under the laws of the State of Connecticut (the “Direct Insurer”), [Retrocessionaire], a life insurance company organized under the laws of [__] (the “Grantor”) and [The Bank of New York Mellon], a [New York] banking corporation (the “Trustee”) (the Grantor, the Beneficiary, the Direct Insurer and the Trustee are hereinafter each sometimes referred to individually as a “Party” and collectively as the “Parties”).
WITNESSETH:
WHEREAS, pursuant to an Annuity Reinsurance Agreement, dated as of [___], 2018, by and between the Beneficiary and the Direct Insurer, the Direct Insurer is ceding to the Beneficiary, and the Beneficiary is reinsuring specified fixed immediate and deferred annuity contracts, variable payout separate account annuity contracts and structured settlement annuity contracts of the Beneficiary (the “Underlying Reinsurance Agreement”) pursuant to the terms and conditions thereof;
WHEREAS, pursuant to an Annuity Retrocession Agreement, dated as of [___], 2018 (the “Retrocession Agreement”), the Beneficiary is retroceding to the Grantor a [__]% quota share portion of certain contracts reinsured to the Beneficiary pursuant to the Underlying Reinsurance Agreement (the “Retroceded Contracts”);
WHEREAS, the Grantor desires to transfer, or cause to be transferred, to the Trustee for deposit to a trust account (including any sub-accounts thereunder, the “Trust Account”), pursuant to Article IX of the Retrocession Agreement, certain assets as security for the payment and performance by the Grantor of its obligations under the Retrocession Agreement;
WHEREAS, the Trustee has agreed to act as trustee hereunder, and to hold such assets in trust in the Trust Account for the use and benefit of the Beneficiary and the Direct Insurer for such purposes in accordance with the terms and conditions of this Agreement; and
WHEREAS, this Agreement is made for the use and benefit of the Beneficiary and the Direct Insurer for the purpose of setting forth the rights, duties and powers of the Trustee with respect to the Trust Account.
1 Note to Draft:  If this Retrocession Trust Agreement is utilized pursuant to Section 3 of the Binder, the terms shall be generally revised to conform to the final version of the Reinsurance Trust Agreement agreed to by the parties. 

NOW, THEREFORE, for and in consideration of the premises and for other good and valuable consideration, the receipt of which is hereby acknowledged, the Parties hereby agree as follows:
Section 1.1    Deposit of Assets to the Trust Account.
(a)    The Grantor hereby establishes the Trust Account with the Trustee for the use and benefit of the Beneficiary and the Direct Insurer, under the terms set forth herein. The Beneficiary is required to deposit (or the Direct Insurer on behalf of the Beneficiary shall deposit), on behalf of the Grantor as Grantor of the Trust Account as an initial deposit the assets listed on Schedule [__] attached hereto.  The Trustee shall administer the Trust Account in its name as trustee for the benefit of the Beneficiary and the Direct Insurer. The Trust Account shall be subject to withdrawal by the Beneficiary, the Direct Insurer and the Grantor solely as provided herein. The Trustee hereby accepts the Trust Account upon the terms set forth in this Agreement. 
(b)    The Grantor shall transfer, or shall cause to be transferred, to the Trustee, for deposit to the Trust Account, such assets as may be required from time to time pursuant to the Retrocession Agreement including any overcollateralization amount contemplated thereby (all such assets are herein referred to individually as an “Asset” and collectively as the “Assets”). The Trustee is authorized and shall have power to receive the Assets from the Grantor and to hold, invest, reinvest and dispose of the same for the uses and purposes of and according to the provisions herein set forth. All Assets shall be maintained by the Trustee in the Trust Account separate and distinct from all other assets on the books and records of the Trustee and in accordance with the terms of this Agreement. The Assets shall consist only of Eligible Investments (as defined below). All Eligible Investments and other Assets credited to the Trust Account shall be registered in the name of the Trustee or its nominee (except for Commercial Mortgage Loans or participations therein) and shall be held by the Trustee in its capacity as trustee and securities intermediary hereunder. No such Eligible Investment or other Asset credited to the Trust Account shall be registered in the name of the Grantor, payable to the order of the Grantor or endorsed to the Grantor, it being agreed and understood that title to all Eligible Investments and other Assets credited to the Trust Account must be held by the Trustee. If any Asset is no longer an Eligible Investment or becomes impaired, the Grantor shall promptly substitute or deposit other Assets which meet the requirements of an Eligible Investment and, if a substitution, having a Book Value greater than or equal to the Book Value, and having a fair market value greater than or equal to the fair market value, of such substituted Asset; provided, however, that the total value of the Assets held in the Trust Account, to the extent required, is equal to or exceeds the Required Balance, in compliance, and as calculated in accordance with Exhibit D hereto.  The Trustee shall accept for deposit into the Trust Account any asset transferred to the Trustee from time to time by the Direct Insurer or the Beneficiary pursuant to a written directive and designated to be deposited into the Trust Account, and all such assets shall be considered “Assets” for purposes of this Agreement and shall be subject to the provisions of this Agreement.  The Trustee shall have no duty or responsibility to determine whether any Assets constitute Eligible Investments or to determine the fair market value of any Assets held in the Trust Account.  The Grantor shall be solely responsible for making such determinations.
(c)    The Grantor hereby represents and warrants (i) that any Assets transferred by the Grantor to the Trustee for deposit to the Trust Account will be in such form that the Beneficiary or the Direct Insurer whenever necessary may, and the Trustee upon direction by the Beneficiary and/

or the Direct Insurer will, negotiate any such Assets without consent or signature from the Grantor or any other Person or entity in accordance with the terms of this Agreement, (ii) that all Assets transferred by the Grantor to the Trustee for deposit into the Trust Account will consist only of Eligible Investments, (iii) that Grantor has, at the time of transfer into this Trust Account, conveyed to the Trustee good and marketable title to the Assets to be so transferred and each such Asset shall be at the time of transfer free and clear of all claims, liens, interests and encumbrances (other than those arising under this Agreement) and (iv) that Grantor will not cause the Trustee to take any action that would create, incur, assume or permit any claim, lien or encumbrance on any Asset in the Trust Account (other than those arising under this Agreement).  
(d)    Prior to depositing the Assets into the Trust Account, and from time to time thereafter as required, the Grantor shall execute assignments, endorsement in blank, or transfer legal title to the Trustee of all shares, obligations or other Assets requiring assignments, so that the Beneficiary and/or the Direct Insurer whenever necessary may, and the Trustee upon the direction by the Beneficiary or the Direct Insurer will, negotiate any such Assets without the consent or signature from the Grantor or any other Person or entity.  
(e)    The parties recognize that certain Assets will not be readily negotiable and that certain notices, opinions of counsel, representations and/or consents will be required for the Beneficiary or the Direct Insurer (as applicable) to obtain good and marketable title to such Assets. In the event any such Asset is not readily negotiable, the Trustee shall only be required to deliver the Asset, together with any assignment or other document related to such Asset and previously actually deposited with the Trustee, to:  (i) the Beneficiary in accordance with a Beneficiary Request for Withdrawal (as defined below); or (ii) the Direct Insurer in accordance with a Direct Insurer Request for Withdrawal (as defined below).  Any notice, opinion of counsel, representation or consent required to negotiate the Assets shall be provided by the Beneficiary or the Direct Insurer, as applicable, for the initial deposit described in Section 1.1(a), and by the Grantor for any other conveyance of Assets to the Trust Account.

Section 1.2.    Deposit of Commercial Mortgage Loans.
(a)    In the case of Commercial Mortgage Loans, the Grantor shall effect such transfer through delivery by the Grantor to the Trustee of a complete and accurate set of the related Loan Assignment Documents.  
(b)    In the case of Eligible Investments that are Commercial Mortgage Loans, the Grantor grants to the Trustee all powers necessary and reasonable in the performance of its duties hereunder except as otherwise expressly provided herein.  Subject to the terms, conditions and limitations set forth in this Agreement, the Trustee may execute and deliver in the name of the Grantor, the Beneficiary or the Direct Insurer, as permitted by Section 2 of this Agreement, as the case may be, any assignments, stock or bond powers or other documents or instruments which the Trustee deems necessary or convenient and proper (1) to sell, assign, transfer, or make other disposition of any security or other property in the Trust Account; provided that the Trustee shall only sell, assign, transfer or dispose of any Commercial Mortgage Loan in accordance with this Agreement and by sale, assignment or transfer of the whole Commercial Mortgage Loan; (2) to take any necessary action in relation to any such security or property as required pursuant to Section 1.2(c); or (3) to obtain any payment due, but only as instructed by the Grantor, the Beneficiary or the Direct Insurer, as applicable, in accordance with the terms of this Agreement.  Each of the Trustee, and the 

Beneficiary or the Direct Insurer, as applicable, is hereby authorized and empowered hereunder (x) to prepare and file, on behalf of itself or either of them, any UCC-3 assignment, and (y) and record any assignments delivered as to a Loan Assignment Document in the related real property records, in each case in connection with the withdrawal of any Commercial Mortgage Loan pursuant to a Beneficiary Request for Withdrawal or a Direct Insurer Request for Withdrawal, or in connection with the sale, assignment or transfer of any Commercial Mortgage Loan.
(c)
(i)    In connection with the deposit of any Commercial Mortgage Loan into the Trust Account on the date of the closing of the transactions contemplated in the Retrocession Agreement (the “Closing” and such date, the “Closing Date”): the Direct Insurer on behalf of the Beneficiary shall (A) deliver (or cause to be delivered) to the Trustee a complete and accurate set of the executed originals of related Loan Assignment Documents (other than Trailing Documents, only copies of executed originals of which will be delivered) together with a Loan Assignment Document Certification from the Direct Insurer on behalf of the Beneficiary, and (B) deliver to the Beneficiary and the Grantor copies of such Loan Assignment Documents.  The Trustee shall provide a Custody Transmission to the Grantor, the Beneficiary and the Direct Insurer with respect to every Commercial Mortgage Loan deposited in the Trust Account in connection with the Closing (x) within six (6) Business Days following the Trustee’s receipt of the Loan Assignment Documents in accordance with this Section 1.2(c)(i), (y) on a monthly basis concurrently with the delivery of the Monthly Statement, and (z) upon the written request of the Beneficiary, the Direct Insurer or the Grantor. For the avoidance of doubt, delivery of the Loan Assignment Documents in connection with the Closing shall be the Direct Insurer’s responsibility. 
(ii)    In connection with any subsequent deposit of any Commercial Mortgage Loan into the Trust Account after the Closing Date, the Grantor  shall (A) deliver (or cause to be delivered) to the Trustee a complete and accurate set of the executed originals of the related Loan Assignment Documents (other than Trailing Documents, only copies of executed originals of which will be delivered) together with a Loan Assignment Document Certification, and (B) deliver to the Beneficiary and the Direct Insurer copies of such Loan Assignment Documents. The Trustee shall provide a Custody Transmission to the Beneficiary, the Direct Insurer and the Grantor, with respect to every Commercial Mortgage Loan deposited in the Trust Account subsequent to the Closing (x) as promptly as possible, but in no event later than fifteen (15) Business Days after such receipt, (y) on a monthly basis concurrently with the delivery of the Monthly Statement, and (z) upon the written request of the Beneficiary, the Direct Insurer or Grantor.  For the avoidance of doubt, delivery of the Loan Assignment Documents subsequent to the Closing shall be the Grantor’s responsibility.
(iii)    Upon its receipt of the Loan Assignment Documents relating to any Commercial Mortgage Loan, the Trustee shall compare the delivered Loan Assignment Documents to the related Loan Assignment Document Certification and shall provide all related Custody Transmissions to the Beneficiary, the Direct Insurer and the Grantor within the time frames set forth in paragraphs (c)(i)(x) and (c)(ii)(x) above, as applicable, and if the Trustee shall determine that such documents do not substantially conform to the 

description of such documents specified in the Loan Assignment Document Certification, delivered by the Beneficiary, the Direct Insurer or the Grantor (as applicable) to the Trustee in respect of such Commercial Mortgage Loan, or if for any reason the Trustee is unable to confirm that the documents are as specified in such Loan Assignment Document Certification, the Trustee shall identify such Commercial Mortgage Loan, as having an exception (an “Exception”) on the applicable Custody Transmission.  With respect to any deposit of Commercial Mortgage Loans into the Trust Account, the Beneficiary, the Direct Insurer or the Grantor, as applicable, shall be solely responsible for delivering to the Trustee in a timely manner each and every Loan Assignment Document required for each Commercial Mortgage Loan deposited into the Trust, and for completing or correcting any missing, incomplete or inconsistent documents and the Trustee shall not be responsible or liable for taking any action to ensure the Beneficiary, the Direct Insurer or the Grantor, as applicable, has complied with its delivery obligation hereunder, causing any other Person to do so or notifying the Grantor that any such action has or has not been taken.  A Commercial Mortgage Loan shall be deemed an Asset in the Trust Account only after the Trustee has delivered a completed Custody Transmission to the Beneficiary and the Direct Insurer in respect of such Commercial Mortgage Loan, confirming that all originals of the executed Loan Assignment Documents or (solely with respect to Trailing Documents, copies thereof) have been received by the Trustee with no Exceptions, and if an Exception is noted by the Trustee on the Custody Transmission, only after all Exceptions have been addressed to the Trustee’s reasonable satisfaction and originals of the executed Loan Assignment Documents or (solely with respect to Trailing Documents, copies thereof) have been received by the Trustee.
(iv)    With respect to the Trailing Documents: (x) the Parties acknowledge that the Trailing Documents are not required for the initial deposit and acceptance of a Commercial Mortgage Loan in the Trust Account; (y) the Grantor covenants that, upon its receipt of a Trailing Document, it shall promptly provide such Trailing Document to the Trustee; and (z) in the event that the Trailing Documents with respect to any Commercial Mortgage Loan are not so provided within ninety (90) days following such initial deposit and acceptance, such Commercial Mortgage Loan shall cease to be an “Asset” for the purposes of this Agreement, in each case until all Trailing Documents are delivered to the Trustee.
(v)    Notwithstanding paragraphs (c)(i), (c)(ii) and (c)(iii) above, it is herein acknowledged that, in accepting a deposit of any Commercial Mortgage Loan into the Trust Account, the Trustee shall be under no duty or obligation to inspect, review or examine the actual content or substance of any related Loan Assignment Documents, any other loan document, security document or any other related document, instrument or agreement or to determine that they are genuine, enforceable, or appropriate for the represented purpose or that they have actually been recorded or that they are other than what they purport to be on their face.  In no event shall the Trustee be responsible for the preparation of any Loan Assignment Documents, any other loan document, security document or any other instruments, agreements or documents relating to the Commercial Mortgage Loan or required for the deposit of the Commercial Mortgage Loan into the Trust Account or for the 

expenses of such preparation or any other costs related thereto, including any filing fees therefor.
(vi)    The Trustee’s administrative obligations hereunder in respect of the Commercial Mortgage Loans shall be limited to (x) the preparation and delivery of a Custody Transmission in respect of each Commercial Mortgage Loan, including notation of any Exceptions, and (y) the execution of instruments or other documents provided to it, including Trustee Loan Assignment Documents, and the Trustee shall take no action with respect to any Commercial Mortgage Loan or any Underlying Asset, except at the written direction of the Beneficiary, the Direct Insurer or the Grantor, as applicable, or as otherwise permitted pursuant to this Agreement.  Any compensation and expenses payable to any servicer under the Servicing Agreements shall be paid by the Grantor, and, if charged to and paid by the Trustee (it being understood that the Trustee has no obligation to pay any such amounts), shall be reimbursed as expenses of the Trustee by the Grantor in accordance with Section 9(a); provided that any such compensation and expenses may be payable out of assets in the Trust Account or Income Account.
With respect to any assignment and assumption agreement relating to a Commercial Mortgage Loan, the Trustee is hereby authorized and directed, not in its individual capacity but solely in its capacity as Trustee, to execute and deliver such assignment and assumption agreements presented to the Trustee for execution from time to time. To the extent that, under the assignment and assumption agreements, the Trustee as assignee has undertaken or assumed any obligations or made any representations, warranties or covenants, such obligations, representations, warranties or covenants shall not be those of the Trustee, but shall instead be those of the Grantor and the Grantor shall perform or cause to be performed all such obligations, representations, warranties or covenants.
(d)    The Grantor hereby represents, warrants and covenants (i) that any assets transferred by the Grantor to the Trustee for deposit to the Trust Account will be in such form that the Beneficiary or the Direct Insurer whenever necessary may, and the Trustee upon direction by the Beneficiary and/or the Direct Insurer may, negotiate any such assets without consent or signature from the Grantor or any Person in accordance with the terms of this Agreement; and (ii) that all assets delivered (or caused to be delivered) by the Grantor to the Trustee for deposit to the Trust Account will consist only of Eligible Investments at the time of such transfer.  In furtherance of the foregoing, the Grantor shall take such actions that shall become necessary or appropriate to maintain the assignability of Commercial Mortgage Loans held in the Trust Account during the term of this Agreement, including but not limited to, obtaining any consents necessary to transfer any Commercial Mortgage Loans to or from the Trust Account.  The Grantor hereby represents, warrants and covenants with the Beneficiary, the Direct Insurer and the Trustee that any consents required to effect any sale, transfer or assignment with respect to any Commercial Mortgage Loan have been or will have been obtained prior to the deposit of such Commercial Mortgage Loan into the Trust Account.  The Trustee shall have no responsibility whatsoever to determine at any time whether any Assets are or continue to be Eligible Investments.
Section 2.    Withdrawal of Assets from the Trust Account.
(a)The Beneficiary shall have the right, at any time and from time to time, to withdraw from the Trust Account, upon notice to the Trustee in the form of a certificate and request for 

withdrawal substantially in the form of Exhibit A attached hereto (the “Beneficiary Request for Withdrawal”), signed by a duly authorized officer of the Beneficiary, such Assets as are specified in such Beneficiary Request for Withdrawal.  The Beneficiary shall simultaneously deliver a copy of such notice to the Grantor; provided, however, that the Trustee shall not be required to confirm delivery of such copy.  Such withdrawal by the Beneficiary shall be made only in the circumstances permitted by Section 9.8(a) of the Retrocession Agreement (the text of which section is set forth on Exhibit D to this Agreement) and then only in the amount permitted to be withdrawn pursuant to such Section 9.8(a). The Beneficiary shall not submit the Beneficiary Request for Withdrawal except as permitted by the immediately preceding sentence. The Beneficiary shall acknowledge in writing receipt of any such Assets withdrawn from the Trust.
(b)The Direct Insurer shall have the right, at any time and from time to time, to withdraw from the Trust Account, upon notice to the Trustee in the form of a certificate and request for withdrawal substantially in the form of Exhibit B attached hereto (the “Direct Insurer Request for Withdrawal”), signed by a duly authorized officer of the Direct Insurer, such Assets as are specified in such Direct Insurer Request for Withdrawal.  The Direct Insurer shall simultaneously deliver a copy of such notice to the Grantor and the Beneficiary; provided, however, that the Trustee shall not be required to confirm delivery of such copy.  Such withdrawal by the Direct Insurer shall be made only in the circumstances permitted by Section 9.8(b) of the Retrocession Agreement and Section 9.8(b) of the Underlying Reinsurance Agreement and then only in the amount permitted to be withdrawn pursuant to such Section 9.8(b) of the Retrocession Agreement and Section 9.8(b) of the Underlying Reinsurance Agreement.  The Direct Insurer shall not submit the Direct Insurer Request for Withdrawal except as permitted by the immediately preceding sentence.  The Direct Insurer shall acknowledge in writing receipt of any such Assets withdrawn from the Trust.  In the event of a dispute between the Direct Insurer and the Beneficiary regarding the appropriate amount of such a withdrawal by the Direct Insurer the parties shall act in accordance with the last sentence of Section 9.8(b) of the Retrocession Agreement (the text of which section is set forth on Exhibit D to this Agreement).
(c)Upon receipt of a Beneficiary Request for Withdrawal or a Direct Insurer Request for Withdrawal in accordance with Section 2(a) or Section 2(b) above, the Trustee shall as soon as practicable, but in no event later than two (2) Business Days, take any and all steps necessary to transfer the Assets specified in such Beneficiary Request for Withdrawal or Direct Insurer Request for Withdrawal, and shall deliver such Assets to or for the account of the Beneficiary, such designee as specified in such Beneficiary Request for Withdrawal or Account Number [•] or to or for the account of the Direct Insurer or such designee as specified in such Direct Insurer Request for Withdrawal, as the case may be; provided, however, that such transfer shall occur no later than two (2) Business Days following receipt of such request.  The Trustee agrees to notify the Grantor of the occurrence of any such withdrawal by the Beneficiary or the Direct Insurer, as applicable, within two (2) Business Days following such delivery.  In addition, (i) the Beneficiary agrees with the Grantor that it shall provide a certificate to the Grantor in the form of Exhibit E attached hereto, certifying that the withdrawal has been made in accordance with Section 9.8(a) of the Retrocession Agreement, within such two (2) Business Day period, and (ii) the Direct Insurer agrees with the Grantor that it shall provide a certificate to the Grantor in the form of Exhibit F attached hereto, certifying that the withdrawal has been made in accordance with Section 9.8(b) of the Retrocession Agreement and Section 9.8(b) of the Underlying Reinsurance Agreement, within such two (2) Business Day period.

(d)Without limiting the applicability of the foregoing, in connection with the withdrawal of any Commercial Mortgage Loan, the Beneficiary or the Direct Insurer, as applicable, shall direct the Trustee in writing to, and the Trustee shall, in its capacity as Trustee and not in its individual capacity, date, as applicable, the Trustee Loan Assignment Documents to endorse and transfer the Commercial Mortgage Loan to the Beneficiary or the Direct Insurer, as applicable, and the Trustee shall reasonably cooperate with the Beneficiary or the Direct Insurer in providing any information or documentation necessary to effect such assignment (to the extent such information or documentation exists and is in the possession or control of the Trustee).  The Grantor hereby grants the Beneficiary and the Direct Insurer a limited power of attorney to act on the behalf of the Grantor to the extent (and only to such extent) necessary to obtain the consents or approvals required to effect the transfer of any Commercial Mortgage Loan in connection with any withdrawal by the Beneficiary and the Direct Insurer, as applicable, permitted hereunder, and the Grantor shall reasonably cooperate with the Beneficiary and the Direct Insurer in providing any information or documentation necessary to effect such sale, transfer or assignment.  In the event that the Beneficiary or the Direct Insurer withdraws a Commercial Mortgage Loan from the Trust Account pursuant to this Agreement, then, unless otherwise agreed upon by the Grantor and the Beneficiary or the Direct Insurer, as applicable, in writing with notice to the Trustee, only the entire whole Commercial Mortgage Loan (and not a portion thereof) or the entire participation interest in a Commercial Mortgage Loan then in the Trust Account may be assigned or transferred to the Beneficiary or the Direct Insurer, as applicable.
(e)
(i)    Unless and until a Notice of Exclusive Control is given to the Trustee pursuant to Section 11, the Grantor may, at any time and from time to time, to withdraw from the Trust Account, after providing written notice to the Trustee.  The Grantor may make such request using the form of a certificate and request for withdrawal substantially in the form of Exhibit C (the “Grantor Request for Withdrawal”), signed by duly authorized officers of the Grantor, and specifying such Assets the Grantor intends to withdraw.  Such withdrawal by the Grantor may be made only pursuant to Section 9.6 of the Retrocession Agreement (the text of which section is set forth on Exhibit D to this Agreement). 
(ii)    The Grantor shall acknowledge in writing receipt of any such Assets withdrawn from the Trust. 
(f)    Upon receipt of a Grantor Request for Withdrawal in accordance with Section 2(e)(i) above, the Trustee shall take any and all steps necessary to transfer the Assets specified in such Grantor Request for Withdrawal, and shall deliver such Assets to or for the account of the Grantor or such designee as specified in such Grantor Request for Withdrawal (i) no later than two (2) Business Days following receipt of such request, if (A) such request is in respect of any withdrawal and transfer of cash in connection with the payment by the Grantor of an amount specified in a Monthly Reinsurance Settlement Report and (B) the conditions in clauses (x) and (i) through (v) in Section 9.6(a) of the Retrocession Agreement are all met, or (ii) on the fifth Business Day following the date of such Grantor Request for Withdrawal, in respect of all other requests made pursuant to Section 9.6 of the Retrocession Agreement unless the Beneficiary or the Direct Insurer shall have objected to such withdrawal in writing within such five (5) Business Day period.  The Trustee shall provide notice to the Beneficiary and the Direct Insurer of the withdrawal within two (2) Business 

Days following such delivery.  In addition, in respect of a withdrawal pursuant to clause (i) of this Section 2(f), the Grantor shall provide a certificate to the Beneficiary and the Direct Insurer in the form of Exhibit G attached hereto, certifying that such withdrawal has been made in accordance with Section 9.6 of the Retrocession Agreement, within such two (2) Business Day period.
(g)    Without limiting the applicability of the foregoing, in the event that the Grantor makes a demand to the Trustee to withdraw a Commercial Mortgage Loan held in the Trust Account under this Section 2, then only the entire whole Commercial Mortgage Loan (and not a portion thereof) or the entire participation interest in a Commercial Mortgage Loan may be withdrawn by the Grantor; provided, further, that in connection with any withdrawal of any Commercial Mortgage Loan hereunder, the Grantor or the applicable investment manager shall (A) direct the Trustee in writing to, and the Trustee shall, execute and return the Trustee Loan Assignment Documents to the Grantor and (B) obtain any consents required to effect such sale, transfer or assignment, and the Trustee shall reasonably cooperate with the Grantor or the investment manager in providing any information or documentation necessary to effect such withdrawal (to the extent such information or documentation exists and is in the possession or control of the Trustee).
(h)    In the event of any dispute between, or conflicting claims by or between, the Beneficiary, the Direct Insurer and/or the Grantor concerning the right of the Beneficiary, the Direct Insurer or the Grantor to initiate a withdrawal of Assets pursuant to this Section 2, the Trustee shall, notwithstanding such dispute or conflicting claims, promptly, and without further inquiry, comply with the terms of any Beneficiary Request for Withdrawal, the Direct Insurer Request for Withdrawal or Grantor Request for Withdrawal (collectively a “Withdrawal Notice”) received by it in accordance with this Agreement, provided, however, that the Trustee shall not be or become liable in any way to the Beneficiary, the Direct Insurer or the Grantor for complying with such Withdrawal Notice and the Trustee shall be fully and completely indemnified in accordance with the provisions of Section 9 hereof.
(i)    The Trustee shall enable the Beneficiary and the Direct Insurer to view each deposit to, or withdrawal from, the Trust Account by providing the Beneficiary and the Direct Insurer access to the Trustee’s online portal with respect to the Trust Account.
(j)    Subject to Section 1(b) and Section 4, in the absence of a Beneficiary Request for Withdrawal, a Direct Insurer Request for Withdrawal or a Grantor Request for Withdrawal, the Trustee shall allow no substitution or withdrawal of any Asset from the Trust Account.
Section 3.    Application of Assets.
(a)    The Beneficiary shall be permitted to withdraw Assets from the Trust Account only for the purposes of satisfying obligations of the Grantor under Section 9.8(a) of the Retrocession Agreement that have not been satisfied within five (5) Business Days after a demand therefor by the Beneficiary.
(b)    The Direct Insurer shall be permitted to withdraw Assets from the Trust Account only for the purposes of satisfying obligations of the Beneficiary under Section 9.8(b) of the Retrocession Agreement that have not been satisfied within five (5) Business Days after a demand therefore by the Direct Insurer.
(c)    The Trustee shall have no responsibility whatsoever to determine that any Assets withdrawn from the Trust Account pursuant to Section 2 of this Agreement will be used and applied in the manner contemplated by paragraphs (a) and (b) of this Section 3.
Section 4.    Redemption, Investment and Substitution of Assets.

(a)    The Trustee shall surrender for payment all maturing Assets and all Assets called for redemption, and deposit the principal amount of the proceeds of any such payment to the Trust Account.
(b)    The Grantor may retain (and pay the service fees of) one or more professional asset managers (each, an “Asset Manager”) to manage and make investment decisions with regard to the Assets held by the Trustee in the Trust Account, including any sub-accounts thereunder. The initial Asset Managers shall be Hartford Investment Management Company and the Grantor. The Grantor shall cause the Asset Managers to comply with the investment guidelines attached hereto as Exhibit H (the “Investment Guidelines”), which sets forth the division of duties between such parties with respect to making investment decisions, including what instructions the parties may provide to the Trustee . From time to time, at the written order and direction of the Grantor or any Asset Manager (with respect to the Assets managed by such Asset Manager), the Trustee shall invest Assets in the Trust Account in Eligible Investments. 
(c)    From time to time and in accordance with Section 9.7 of the Retrocession Agreement (the text of which section is set forth on Exhibit D to this Agreement), the Grantor or any Asset Manager (with respect to the Assets managed by such Asset Manager) may provide notice to the Trustee, the Beneficiary and the Direct Insurer of its desire to substitute specified Assets in the Trust Account with Eligible Investments having an aggregate Book Value greater than or equal to the aggregate Book Value of such Assets being replaced and having an aggregate fair market value greater than or equal to the aggregate fair market value of such Assets being replaced, so long as following such substitution all assets in the Trust Account are Eligible Investments.  Such notice of substitution shall be substantially in the form of Exhibit [__], attached, and shall specify by CUSIP the specific assets to be deposited in, and withdrawn from, the Trust Account, and shall contain a certification to the Trustee, the Beneficiary and the Direct Insurer that the assets to be deposited in the Trust Account are Eligible Investments Five (5) Business Days after receipt of such notice from the Grantor or any Asset Manager by the Trustee, the Trustee shall distribute the specified assets to the Grantor or applicable Asset Manager upon receipt of the specified assets from the Grantor or the applicable Asset Manager.  The Trustee shall have no responsibility whatsoever to determine the aggregate Book Value of such substituted Assets or that such substituted Assets constitute Eligible Investments.
(d)    All investments and substitutions of securities referred to in Section 4(b) and Section 4(c) above shall be in compliance with the definition of “Eligible Investments” in Section 14 of this Agreement. Any instruction or order concerning such investments or substitutions of securities shall be referred to herein as an “Investment Order”. The Trustee shall execute Investment Orders and settle securities transactions by itself or by means of an agent or broker. The Trustee shall not be responsible for any act or omission, or for the solvency, of any such agent or broker.
(e)Any investment orders related to the sale, transfer or assignment of any Commercial Mortgage Loan (other than in connection with a substitution or exchange covered under Section 4(c) or Section 4(j)) shall only be effected by the Grantor or the applicable investment manager in accordance with Section 12(a).
(f)When the Trustee is directed to deliver Assets against payment, delivery will be made in accordance with generally accepted market practice.
(g)Any loss incurred from any investment pursuant to the terms of this Section 4 shall be borne exclusively by the Trust Account.

(h)All items of income, gain, expense and loss recognized in the Trust Account shall be reported to the Internal Revenue Service and all state and local taxing authorities under the name and taxpayer identification number of the Grantor.
(i)Without limiting the applicability of the foregoing and subject to the Retrocession Agreement, with respect to the Commercial Mortgage Loans, in the substitution notice to the Trustee, the Grantor or the applicable investment manager shall (1) direct the Trustee in writing to, and the Trustee shall, in its capacity as Trustee and not in its individual capacity, execute and deliver to the Grantor, the Trustee Loan Assignment Documents, for the Commercial Mortgage Loan being replaced, and (2) obtain any consents required to effect such substitution, and the Trustee shall reasonably cooperate with the Grantor or the investment manager in providing any information or documentation necessary to effect such substitution (to the extent such information or documentation exists and is in the possession or control of the Trustee).  The Grantor may from time to time designate a third party in the substitution notice to whom the Trustee Loan Assignment Documents, including the original Note and the Loan Assignment Allonge or the Participation Certificate, as applicable shall be delivered.
(j)Subject to the Retrocession Agreement and the provisions of this Section 4(j), the Grantor shall also have the right, at any time and from time to time, to withdraw from the Trust Account, subject only to three (3) Business Days’ prior written notice from the Grantor to the Trustee, the Beneficiary and the Direct Insurer in the form attached hereto as Exhibit I (a “Grantor Servicing Notice”), such Commercial Mortgage Loan or Commercial Mortgage Loans as are specified in such Grantor Servicing Notice, which notice shall include a certification by the Grantor to the Trustee, the Beneficiary and the Direct Insurer that the withdrawal of the Commercial Mortgage Loan or Commercial Mortgage Loans is required in connection with (i) the pay-off of any Commercial Mortgage Loan, (ii) the sale of a Commercial Mortgage Loan by the Grantor or (iii) the modification, servicing, restructuring, foreclosure, deed-in-lieu or other liquidation of any Commercial Mortgage Loan.  In the Grantor Servicing Notice delivered in connection with any withdrawal of any Commercial Mortgage Loan pursuant to this Section 4(j), the Grantor or the applicable investment manager shall (1) direct the Trustee in writing to, and the Trustee shall, in its capacity as Trustee and not in its individual capacity, execute and deliver to the Grantor, the Trustee Loan Assignment Documents, and (2) obtain any consents required to effect such withdrawal, and the Trustee shall reasonably cooperate with the Grantor or the investment manager in providing any information or documentation necessary to effect such withdrawal (to the extent such information or documentation exists and is in the possession or control of the Trustee). The Grantor may from time to time designate a third party in a Grantor Servicing Notice to whom the Trustee Loan Assignment Documents, including the original Note and the Loan Assignment Allonge or the Participation Certificate, as applicable shall be delivered.  The Grantor Servicing Notice shall include a certification that, as applicable, (A) the proceeds from a transaction of the type described in clause (i) or (ii) of the first sentence of this Section 4(j) will be paid into the Trust Account within three (3) Business Days; or (B) in the case of clause (iii) of the first sentence of this Section 4(j), that any net cash proceeds from such foreclosure sale or liquidation shall be paid into the Trust Account within three (3) Business Days.  For avoidance of doubt, in the event that the Grantor comes into possession of any cash proceeds, the Grantor acknowledges and agrees (i) that it holds such proceeds in trust for the benefit of the Beneficiary, and (ii) that it will transfer such proceeds to the Trust Account as soon as reasonably practical following receipt by the Grantor, except in each case, to the extent that it has previously deposited other Assets into the Trust Account to replace some or all of the value of 

the withdrawn Commercial Mortgage Loan.  The withdrawal of a Commercial Mortgage Loan pursuant to this Section 4(j) shall reduce the Book Value or fair market value, as applicable, of the Assets in the Trust Account by the value of the asset so withdrawn in the event the Grantor does not deposit such cash proceeds, and/or other Assets (which may include a modified or restructured Commercial Mortgage Loan with a Book Value or fair market value, as applicable, at least equal to the value of such withdrawn Commercial Mortgage Loans), within three (3) Business Days following such withdrawal.  For the avoidance of doubt, in no event shall real estate owned resulting from any such foreclosure, deed-in-lieu or other liquidation be deposited into the Trust Account.  Notwithstanding anything herein to the contrary, at no time shall the value of any Commercial Mortgage Loans “in transit” (i.e., such Commercial Mortgage Loan is withdrawn from the Trust Account for one of the purposes set forth in clause (i) through (iii) of this Section 4(j) without simultaneously being replaced with Eligible Investments with the same value) under this Section 4(j) exceed $50 million.  The Grantor shall not be required to present any other statement or document in addition to a Grantor Servicing Notice in order to withdraw any Commercial Mortgage Loan, and the Grantor shall acknowledge receipt of any Commercial Mortgage Loans, withdrawn from the Trust Account upon request by the Trustee.  The Trustee shall have no liability or responsibility to verify or determine the occurrence of any event or condition giving rise to the Grantor’s right to withdraw Commercial Mortgage Loans from the Trust Account pursuant to a Grantor Servicing Notice or to monitor the Grantor’s compliance with its obligation to deposit proceeds of any withdrawn Asset, and the Trustee shall be fully protected in relying conclusively on the Grantor Servicing Notice.
Section 5.    The Income Account.
(a)    All payments of interest, dividends and other income in respect to Assets in the Trust Account (it being agreed that with respect to Commercial Mortgage Loans, such amounts shall be deposited in the Income Account after retention by the related servicer of required escrows and reserves to the extent contemplated pursuant to the terms of the applicable loan agreement and the Servicing Agreement) shall be the property of the Grantor and shall be deposited by the Trustee subject to deduction of the Trustee’s compensation and expenses as provided in Section 9 of this Agreement, in a separate income column of custody ledger (the “Income Account”) established and maintained by the Grantor at an office of the Trustee. The Grantor, upon written notice to the Trustee, may withdraw amounts from the Income Account at any time and from time to time. Any interest, dividend or other income automatically posted and credited on the payment date to the Income Account which is not subsequently received by the Trustee shall be reimbursed by the Grantor to the Trustee and the Trustee may debit the Income Account for this purpose.
(b)    To the extent received from a servicer under any Servicing Agreements the Grantor shall deliver (i) to the Trustee monthly remittance reports that detail the payments of Net Collections, interest and other income received in respect of each of the Commercial Mortgage Loans, and (ii) in accordance with the applicable Servicing Agreement(s) for deposit into the Trust Account, all Net Collections generated by Commercial Mortgage Loans in the Trust Account, it being agreed that Grantor may satisfy such obligations by causing servicer to deliver such reports and amounts directly to the Trustee.  To the extent that the Trustee receives in the Trust Account such income together with principal in a single payment, the Trustee shall, in accordance with the information contained in the monthly remittance reports to be delivered by or on behalf of the Grantor as provided below, allocate such income to the Income Account.  For the avoidance of doubt, no principal payments on any of the Commercial Mortgage Loans shall be deposited into the Income Account.

Section 6.    Right to Vote Assets.  Whenever there are voluntary rights that may be exercised or alternate courses of action that may be taken by reason of the Grantor’s ownership of Eligible Investments, the Grantor or its designee shall be responsible for making any decisions relating thereto and for directing the Trustee to act. The Trustee shall notify the Grantor or its designee of rights or discretionary actions with respect to Eligible Investments as promptly as practicable under the circumstances, provided that the Trustee has actually received notice of such right or discretionary corporate action from the relevant depository, etc. Absent actual receipt of such notice, the Trustee shall have no liability for failing to so notify the Grantor or its designee. Absent the Trustee’s timely receipt of instructions, the Trustee shall not be liable for failure to take any action relating to or to exercise any rights conferred by such Eligible Investments.
Section 7.    Additional Rights and Duties of the Trustee.
(a)    Before accepting any Asset for deposit to the Trust Account, the Trustee shall determine that such Asset is in such form that the Beneficiary or Direct Insurer whenever necessary may, or the Trustee upon direction by the Beneficiary or Direct Insurer will, negotiate such Asset without consent or signature from the Grantor or any Person or entity other than the Trustee in accordance with the terms of this Agreement.
(b)    The Trustee shall be under no obligation to determine whether or not any instructions given by the Grantor, the Beneficiary or the Direct Insurer are contrary to any provision of law. It is understood and agreed that the Trustee’s duties are solely those set forth herein and that the Trustee shall have no duty to take any other action unless specifically agreed to by the Trustee in writing. Without limiting the generality of the foregoing, the Trustee shall not have any duty to advise, manage, supervise or make recommendations with respect to the purchase, retention or sale of Assets with respect to any Assets in the Trust Account as to which a default in the payment of principal or interest has occurred or to be responsible for the consequences of insolvency or the legal inability of any broker, dealer, bank or other agent employed by the Grantor or Trustee with respect to the Assets.  The Trustee agrees to use reasonable efforts to advise the Grantor, the Beneficiary and the Direct Insurer of the occurrence of any default with respect to securities held in trust hereunder to the extent that it has received notice of same.
(c)    The Trustee shall accept and open all mail directed to the Grantor, the Beneficiary or the Direct Insurer in care of the Trustee.
(d)    The Trustee shall have no responsibility whatsoever to determine that any Assets in the Trust Account are or continue to be Eligible Investments or to determine the value of any Asset.
(e)    The Trustee shall furnish to the Grantor, the Beneficiary and the Direct Insurer a statement (the “Asset Statement”), containing (i) a description of all of the Assets in the Trust Account and (ii) information pertaining to all deposits, withdrawals and substitutions made during the statement period, upon the inception of the Trust Account and at the end of each calendar month thereafter; provided, however, the Asset Statement shall not include any other information regarding Commercial Mortgage Loans (which shall be reported on the Custody Transmission).  The Asset Statement shall be delivered within five (5) Business Days following the end of each such calendar month.  The Asset Statement to be delivered pursuant to this Section 7(e) shall be deemed delivered by the Trustee to the Grantor, the Beneficiary and the Direct Insurer to the extent that prior to the end of such calendar month, the Grantor, the Beneficiary and the Direct Insurer, as the case may be, had requested and been given access to the Trustee’s automated data system affording on-line access to Trust Account information and such information is posted by the Trustee on such system within the relevant period.

(f)    The Trustee shall keep full and complete records of the administration of the Trust Account in accordance with all applicable law. Upon the request of the Grantor, the Beneficiary or the Direct Insurer, the Trustee shall promptly permit the Grantor, the Beneficiary, or the Direct Insurer, their respective agents, employees, independent auditors and regulatory authorities to examine, audit, excerpt, transcribe and copy, during the Trustee’s normal business hours, any books, documents, papers and records relating to the Trust Account or the Assets.
(g)
(i)    Unless otherwise provided in this Agreement, the Trustee is authorized to follow and rely upon all instructions given by officers named in incumbency certificates furnished to the Trustee from time to time by the Grantor, any relevant Asset Manager, the Beneficiary or the Direct Insurer, respectively, and by attorneys-in-fact acting under written authority furnished to the Trustee by the Grantor, the Beneficiary or the Direct Insurer, including, without limitation, instructions given by letter, facsimile transmission or electronic media, if the Trustee reasonably believes such instructions to be genuine and to have been signed, sent or presented by the proper party or parties. The Trustee shall not incur any liability to anyone resulting from actions taken by the Trustee in reliance in good faith on such instructions. The Trustee shall not incur any liability in executing instructions (A) from any attorney-in-fact prior to receipt by it of notice of the revocation of the written authority of the attorney-in-fact or (B) from any officer of the Grantor, the Beneficiary or the Direct Insurer named in an incumbency certificate delivered hereunder prior to receipt by it of a more current certificate. Each of the Grantor, the Beneficiary and the Direct Insurer acknowledges and agrees that it is fully informed of the protections and risks associated with the various methods of transmitting instructions to the Trustee, and that there may be more secure methods of transmitting instructions than the method selected by the sender. Each of the Grantor, the Beneficiary and the Direct Insurer agrees that the security procedures, if any, to be followed in connection with a transmission of instructions provide to it a commercially reasonable degree of protection in light of its particular needs and circumstances.
(ii)    Funds Transfers. With respect to any “funds transfer,” as defined in Article 4-A of the Uniform Commercial Code, the following security procedure will apply: payment instruction of the Grantor, the Beneficiary or the Direct Insurer, as the case may be, is to include the name and (in the case of a facsimile) signature of the Person initiating the funds transfer request. If the name is listed as an Authorized Person on the relevant account, the Trustee will confirm the instructions by telephone call to any Person listed as an Authorized Person on the account, who may be the same Person who initiated the instruction. When calling back, the Trustee will request from the staff member of the Grantor, the Beneficiary or the Direct Insurer, as the case may be, his or her name. If the name is listed in the Trustee’s records as an Authorized Person, the Trustee will confirm the instructions with respect to amount, names and numbers of accounts to be charged or credited and other relevant reference information. Where the Agreement contemplates joint payment instructions from the Grantor, the Beneficiary and the Direct Insurer, the Trustee shall call back the Grantor, the Beneficiary and the Direct Insurer. Each of the Grantor and Beneficiary acknowledges that Trustee has offered each of the Grantor, the Beneficiary and the Direct Insurer other security procedures that are more secure and are commercially reasonable for such Grantor, 

Beneficiary or Direct Insurer, and that such Grantor, Beneficiary and Direct Insurer has nonetheless chosen the procedure described in this paragraph. Each of the Grantor, the Beneficiary and the Direct Insurer agrees to be bound by any payment order issued in its name, whether or not authorized, that is accepted by the Trustee in accordance with the above procedures. When instructed to credit or pay a party by both name and a unique numeric or alpha-numeric identifier (e.g. ABA number or account number), the Trustee, and any other bank participating in the funds transfer, may rely solely on the unique identifier, even if it identifies a party different than the party named. This applies to beneficiaries as well as any intermediary bank. Each of the Grantor, the Beneficiary and the Direct Insurer agrees to be bound by the rules of any funds transfer network used in connection with any payment order accepted by the Trustee hereunder. The Trustee shall not be obliged to make any payment or otherwise to act on any instruction notified to it under this Agreement if it is unable to validate the authenticity of the request by telephoning an Authorized Person who has not executed the relevant request or instruction of the relevant Grantor, Beneficiary or Direct Insurer. Payment or otherwise to act on any instruction by Authorized Person of the relevant the Grantor, Beneficiary or Direct Insurer will be made by the Trustee within three (3) Business Days after Trustee’s verification of instructions as set forth above. A “Business Day” shall mean any day on which banks in the State of New York, the Commonwealth of Massachusetts and the State of Connecticut are open for business.
Notwithstanding any revocation, cancellation or amendment of this authorization, any action taken by the Trustee pursuant to this authorization prior to the Trustee’s actual receipt and acknowledgement of a notice of revocation, cancellation or amendment shall not be affected by such notice.
(h)    The duties and obligations of the Trustee shall only be such as are specifically set forth in this Agreement, as it may from time to time be amended, and no implied duties or obligations shall be read into this Agreement against the Trustee.
(i)    No provision of this Agreement shall require the Trustee to take any action which, in the Trustee’s reasonable judgment, would result in any violation of this Agreement or any provision of law.
(j)    The Trustee may confer with counsel of its own choice in relation to matters arising under this Agreement and shall have full and complete authorization from the other Parties for any action taken or suffered by it under this Agreement or in respect of any transaction contemplated hereby in good faith and in accordance with the advice or opinion of such counsel.
(k)The Trustee shall not be liable hereunder except for its own negligence, willful misconduct or lack of good faith. Anything in this Agreement to the contrary notwithstanding, in no event shall the Trustee, be liable under or in connection with this Agreement for indirect, special, incidental, punitive or consequential losses or damages of any kind whatsoever, including but not limited to lost profits, whether or not foreseeable, even if the Trustee has been advised of the possibility thereof and regardless of the form of action in which such damages are sought. The Trustee shall not incur any liability for not performing any act or fulfilling any duty, obligation or responsibility hereunder to the extent solely by reason of any occurrence beyond the control of Trustee, including, but not limited to, any act or provision of any present or future law or regulation or governmental authority, any act of God or war or terrorism, accidents, labor disputes, loss or 

malfunction of utilities or the unavailability of the Federal Reserve Bank wire or telex or other wire or communication facility. Nothing contained in any contract between Trustee and any entity authorized to hold Assets, as defined herein, shall diminish or otherwise alter the liability of Trustee to the Grantor, the Beneficiary or the Direct Insurer as set forth and in accordance with the terms herein. The provisions of this paragraph shall not affect the burden of proof under applicable law with respect to the assertions of liability in any claim, action or dispute alleging any breach of or failure to observe such standard of care.
(l)The Trustee shall not be responsible for the existence, genuineness or value of any of the Assets, for the validity, perfection, priority or enforceability of the liens or any security interest in or with respect to any of the Assets, for the validity of title to the Assets, for insuring the Assets, for the payment of taxes, charges, assessments or liens upon or with respect to the Assets, for any obligations under any agreements or other documents evidencing or related to any of the Assets (other than this Agreement), or for the compliance of the Assets with any laws. The Trustee shall have no responsibility for the recording, filing or registration (or for the rerecording, refiling or reregistration) of any instrument or notice, including any financing or continuation statement or any tax or securities form, at any time in any public office or elsewhere for the purpose of perfecting, maintaining the perfection of or otherwise making effective any lien or any security interest upon, in or with respect to any of the Assets.
(m)The Trustee shall have no responsibility to determine whether any Commercial Mortgage Loans are negotiable, transferable or assignable, as applicable, and shall have no liability (i) to the extent that the Loan Assignment Documents and other instruments or documents provided to the Trustee are not sufficient to effect the transfer, sale or assignment, as applicable, of any Commercial Mortgage Loan upon the execution and delivery thereof by the Trustee as provided herein or (ii) to the extent that there is a failure in the withdrawal of a Commercial Mortgage Loan specified in a Beneficiary Request for Withdrawal by the Beneficiary or in a Direct Insurer Request for Withdrawal by the Direct Insurer, as applicable, as a result of the Grantor’s or applicable investment manager’s sale or transfer of such Commercial Mortgage Loan.
(n)The Grantor, the Beneficiary and the Direct Insurer acknowledge and agree that (i) the Trustee shall have no liability under this Agreement for any action or omission of any of the parties to any Servicing Agreement or any other agreement (related to the Commercial Mortgage Loans) taken pursuant to such agreements, including with respect to any Commercial Mortgage Loan at any time during which such Commercial Mortgage Loan is under the care, custody, possession or control of any of the parties to any Servicing Agreement or any other agreement (related to the Commercial Mortgage Loans) or any of their respective other depositories, subcustodians, other agents or nominees (and none of such other entities or Persons shall be considered to be the depositories, subcustodians, agents or nominees of the Trustee), (ii) the performance by the Trustee of any of its obligations under this Agreement may be delayed, limited or otherwise affected by the actions or omissions of any of the parties to any Servicing Agreement or any other agreement (related to the Commercial Mortgage Loans) or as a result of such Commercial Mortgage Loan being subject to any Servicing Agreement, and (iii) the Trustee shall have no liability under this Agreement as a result of the Trustee’s failure to perform any of its obligations under this Agreement as a result of the actions or omissions of any of the parties to any Servicing Agreement or any other agreement (related to the Commercial Mortgage Loans) that cause such failure or as a result of obligations under any Servicing Agreement or any other agreement 

(related to the Commercial Mortgage Loans).  In no event will the Trustee be required to perform or assume any duties of any party under any Servicing Agreement.
(o)The Trustee shall not foreclose on, direct or consent to the foreclosure of, any Underlying Asset or take title to such Underlying Asset by deed-in-lieu of foreclosure or other means except that, in connection with the Grantor, servicer, the Beneficiary or the Direct Insurer taking such action, the Trustee shall execute such documents, in its capacity as Trustee and not in its individual capacity, provided to it and take such other action as may be reasonably required, in accordance with instructions from the Grantor, the Beneficiary or the Direct Insurer provided pursuant to the terms hereof.
(p)Any notice or correspondence received by the Trustee from any Person in respect of any Commercial Mortgage Loan shall be promptly forwarded to the Grantor and, if such notice did not come to the Trustee from the Beneficiary or the Direct Insurer, to the Beneficiary or the Direct Insurer, as applicable, pursuant to the notice provisions contained in this Agreement, and, unless the Grantor provides written instructions to the Trustee in accordance with terms of this Agreement, the Trustee shall take no other action with respect to any such notice or correspondence (other than such action explicitly required under this Agreement, including the provision of a Beneficiary Request for Withdrawal under Section 2(a) or the provision of a Direct Insurer Request for Withdrawal under Section 2(b)), and the Trustee shall not be liable for failure to take any action relating thereto.
(q)The Trustee may deposit any Assets in the Trust Account in a book-entry account maintained at the Federal Reserve Bank of New York or in depositories such as the Depository Trust Company. The Trustee shall have no liability whatsoever for the action or inaction of any depository or for any Losses resulting from the maintenance of such Assets with a depository. Assets may be held in the name of a nominee maintained by the Trustee or by any such depository.  The Trustee shall have no responsibility whatsoever to determine whether any Assets are or continue to be Eligible Investments or for the determination of the value of any Assets.
(r)The Trustee shall not be required to risk or expend its own funds in performing its obligations under this Agreement.
(s)Notwithstanding references to the Retrocession Agreement in this Agreement, it is acknowledged and agreed that the Trustee has no interest in, and no duty, responsibility or obligation with respect to, the Retrocession Agreement (including without limitation, no duty, responsibility or obligation to monitor the Grantor’s, the Beneficiary’s or the Direct Insurer’s compliance with the Retrocession Agreement).
(t)The Trustee shall set up online access to the Trust Account and shall provide each of the Grantor, the Beneficiary and the Direct Insurer with the appropriate access information.
Section 8.    Representations, Warranties and Covenants of the Trustee.  The Trustee represents, warrants and covenants to the Grantor, the Beneficiary and the Direct Insurer that:
(a)    The Trustee is a Qualified United States Financial Institution;
(b)    In the ordinary course of its business, the Trustee maintains securities accounts for others and is acting in that capacity in this Agreement;
(c)    The Trust Account is and at all times shall be maintained at an office of the Trustee in the United States of America;
(d)    The Trustee is not an Affiliate of the Grantor, the Beneficiary or the Direct Insurer.
Section 9.    The Trustee’s Compensation; Expenses.

(a)    The Grantor shall pay the Trustee, as compensation for its services under this Agreement, a fee computed at rates agreed to between the Trustee and the Grantor. The Grantor shall pay or reimburse the Trustee for all of the Trustee’s expenses and disbursements in connection with its duties under this Agreement (including reasonable attorney’s fees and expenses), except any such expense or disbursement as may arise from the Trustee’s negligence, willful misconduct, lack of good faith or failure to administer the Trust Account in accordance with the terms of this Agreement if such failure is the result of the Trustee’s negligence, willful misconduct or lack of good faith.  The Grantor hereby agrees to indemnify the Trustee for, and hold it harmless against, any Losses howsoever arising in connection with this Agreement or the Trustee’s performance of its obligations in accordance with the provisions of this Agreement, including but not limited to any Losses incurred by the Trustee in connection with its successful defense, in whole or in part, of any claim of negligence, willful misconduct or lack of good faith on its part or Losses arising out of or in connection with the status of the Trustee and its nominee as the holder of record of the Assets; provided, however, that the Trustee shall not be indemnified with respect to Losses caused by the Trustee’s own negligence, willful misconduct or lack of good faith. The Grantor hereby acknowledges that the foregoing indemnities and payment and reimbursement obligations shall survive the resignation or discharge of the Trustee or the termination of this Agreement. 
(b)    The Grantor hereby agrees to indemnify the Trustee for, and hold it harmless against, any Losses or Environmental Damages sustained or incurred by or asserted against the Trustee by reason of or as a result of any action or inaction, or arising out of the Trustee’s performance hereunder, including, without limitation, reasonable attorneys’ and accountants’ fees and expenses incurred by the Trustee in a successful defense of claims by the Grantor, the Beneficiary or the Direct Insurer; provided, however, that the Grantor shall not indemnify the Trustee for those Losses or Environmental Damages arising out of the Trustee’s negligence, willful misconduct or lack of good faith.  This indemnity shall be a continuing obligation of the Grantor, its successors and assigns, notwithstanding the termination of this Agreement. 
(c)    The Beneficiary hereby agrees to indemnify the Trustee for, and hold it harmless against, any and all Losses which are sustained by the Trustee by reason of or as a result of any action taken or omitted by the Trustee pursuant to the Beneficiary’s written instructions or notices required or permitted to be given to the Trustee by the Beneficiary hereunder. Notwithstanding the foregoing, the Beneficiary shall not indemnify the Trustee for those Losses caused by the Trustee’s negligence, willful misconduct or lack of good faith.  This indemnity shall be a continuing obligation of the Beneficiary and its successors and assigns, notwithstanding the termination of this Agreement.
(d)    The Direct Insurer hereby agrees to indemnify the Trustee for, and hold it harmless against, any and all Losses which are sustained by the Trustee by reason of or as a result of any action taken or omitted by the Trustee pursuant to the Direct Insurer’s written instructions or notices required or permitted to be given to the Trustee by the Direct Insurer hereunder. Notwithstanding the foregoing, the Direct Insurer shall not indemnify the Trustee for those Losses caused by the Trustee’s negligence, willful misconduct or lack of good faith.  This indemnity shall be a continuing obligation of the Direct Insurer and its successors and assigns, notwithstanding the termination of this Agreement.
(e)    If the Grantor is required to pay any amounts to the Trustee pursuant to paragraphs 9(a) or 9(b) above for which the Beneficiary or the Direct Insurer is liable under paragraph 9(c) or 9(d), as applicable, then the Beneficiary or the Direct Insurer, as applicable, shall, upon demand by the Grantor, promptly reimburse the Grantor for all such amounts.  If the Beneficiary or the Direct 

Insurer is required to pay any amounts to the Trustee pursuant to paragraph 9(c) or 9(d) above, as applicable, for which the Grantor is liable under paragraphs 9(a) or 9(b), then the Grantor shall, upon demand by the Beneficiary or the Direct Insurer, promptly reimburse the Beneficiary or the Direct Insurer, as applicable, for all such amounts.
(f)    No Assets shall be withdrawn from the Trust Account or used in any manner for paying compensation to, or reimbursement or indemnification of, the Trustee; provided, however, that the Grantor, the Beneficiary and the Direct Insurer hereby grant the Trustee a lien, right of set-off and security interest in the funds in the Income Account for the payment of any claim for compensation, reimbursement or indemnity hereunder.
Section 10.    Resignation or Removal of the Trustee.
(a)    The Trustee may resign at any time upon delivery of a written notice thereof to the Grantor, the Beneficiary and the Direct Insurer effective not less than ninety (90) days after receipt by the Beneficiary, the Grantor and the Direct Insurer of such notice. The Trustee may be removed by prior written notice executed by the Grantor, the Beneficiary and the Direct Insurer. No such resignation or removal shall become effective until a successor Trustee has been appointed and approved by the Grantor, the Beneficiary and the Direct Insurer and all Assets in the Trust Account have been duly transferred to the successor Trustee in accordance with paragraph (b) of this Section 10.  In the event of the Trustee’s resignation or removal, it agrees to provide reasonable assistance in transferring the Assets to any successor Trustee, including executing instruments of conveyance and providing necessary information; provided, however, that the Trustee is assured to its satisfaction, that it will be reimbursed by the Grantor for any cost or expense that it may incur by reason of taking or continuing to take any such action.
(b)    Upon receipt by the proper Parties of the Trustee’s notice of resignation or the Grantor’s, the Beneficiary’s or the Direct Insurer’s notice of removal, the Grantor, the Beneficiary and the Direct Insurer shall jointly appoint a successor Trustee. Any successor Trustee shall be a bank that is a member of the Federal Reserve System and a Qualified United States Financial Institution, and shall not be an Affiliate of the Grantor, the Beneficiary or the Direct Insurer. Upon the acceptance of the appointment as Trustee hereunder by a successor Trustee and the transfer to such successor Trustee of all Assets in the Trust Account, the resignation or removal of the Trustee shall become effective. Thereupon, such successor Trustee shall succeed to and become vested with all the rights, powers, privileges and duties of the resigning or removed Trustee, and the resigning or removed Trustee shall be discharged from any future duties and obligations under this Agreement, but the resigning or removed Trustee shall continue after such resignation or removal to be entitled to the benefits of the indemnities provided herein for the Trustee.
Section 11.    Security Interest in the Assets in the Trust Account.
(a)    Security Interest. The Grantor, the Beneficiary and the Direct Insurer intend that the Trustee, in its capacity as Trustee, is and at all times shall be the registered owner of and holder of legal title to the Trust Account and the Assets. However, to the extent that a court of competent jurisdiction should determine that (1) the Trustee is not the owner of the Trust Account and the Assets, (2) the Trust is not valid, or (3) the transfer of the Assets by the Grantor to the Trust Account is not effective or does not otherwise transfer to the Trust all of the Grantor’s right, title and interest to the Assets, then as further provided in this Section 11 and without any intent to vitiate the creation of an effective trust, the Trust Account shall be deemed to be a “securities account” (within the meaning of Section 8-501(a) of the Uniform Commercial Code as in effect in the State of New York (the “NY UCC”)).  All Eligible Investments and other Assets (as defined below) delivered to the 

Trustee shall be credited to the Trust Account and shall be treated as “financial assets” within the meaning of Section 8-102(a)(9) of the NY UCC.
(b)    The Grantor hereby grants and transfers to the Beneficiary, for the purposes set forth herein, a first priority perfected security interest in, and pledges and assigns to the Beneficiary, all of the Grantor’s right, title and interest in, to and under, whether now existing or hereafter acquired or arising, (i) the Trust Account and all cash and other financial assets credited thereto from time to time including, without limitation, the Assets, and all security entitlements arising therefrom, (ii) all investment property, securities, investments, instruments, cash, mortgage notes and all participation interests in mortgage notes, funds, deposit accounts, general intangibles, accounts, receivables, chattel paper, letter-of-credit rights, documents, goods, real property and all other assets (a) held in or credited to the Trust Account, (b) otherwise conveyed to the Trustee by the Grantor pursuant to this Agreement or (c) purporting to be part of the Assets, and (iii) all proceeds, supporting obligations and all security interests, mortgages or other liens securing any of the foregoing (collectively, the “Collateral”), solely to secure the obligations of the Grantor under the Retrocession Agreement to the Beneficiary and agrees that this Agreement shall constitute a security agreement under all laws, published rules, statutes, regulations, policies and codes and judgments, injunctions, orders, decrees, licenses, permits and all other requirements of governmental entities applicable to the Person, place and situation in question. In furtherance of the preceding sentence, the Trustee acknowledges that all Collateral conveyed to the Trustee is held for the benefit of the Beneficiary for purposes of the security interest granted hereunder and that the Beneficiary shall have “control” (as such term is defined in Articles 8 and 9 of the NY UCC) of the Collateral. All terms used in this Section 11(a) and not otherwise defined shall have the meaning ascribed to such terms in the NY UCC. In addition, the Grantor hereby (i) authorizes the Beneficiary to file any and all UCC financing statements with respect to the Collateral that are reasonably deemed necessary by the Beneficiary in order to perfect such security interest in the Collateral.
The parties understand and agree that the Trustee is a “securities intermediary” within the meaning of Section 8-102(a)(14) of the NY UCC with respect to the Trust Account and all such financial assets held therein, except with respect to any cash so credited, and in respect of any such cash, the Trust Account shall be deemed to be a “deposit account” (as defined in Section 9-102(a)(29) of the NY UCC) to the extent a security interest can be granted and perfected under the NY UCC in the Trust Account as a deposit account, which the Trustee shall maintain acting not as a securities intermediary but as a “bank” (within the meaning of Section 9-102(a)(8) of the NY UCC). The Parties agree that New York shall be deemed to be the “securities intermediary’s jurisdiction” for purposes of Section 8-110(e) of the NY UCC. The Grantor may, from time to time, with prior notice to the Beneficiary and the Direct Insurer, establish one or more sub-accounts under the Trust Account, which shall be part of the Trust Account.
(c)    Until receipt by the Trustee from the Beneficiary of a notice (i) stating that an Exclusive Control Event has occurred with respect to the Grantor and (ii) attaching a certification from the Beneficiary of the occurrence of an Exclusive Control Event following, if applicable, a final, valid and binding determination with respect to Grantor’s challenges to a notification of a “Mandatory Control Level Event” by the Commissioner (the “Notice of Exclusive Control”), the Trustee will comply with notifications it receives directing it to transfer or redeem any Asset in the Trust Account and any other “entitlement order” (as such term is defined in Section 8-102(a)(8) of the NY UCC) originated by the Grantor in accordance with the terms of this Agreement.  The Grantor 

shall provide notice to the Beneficiary and the Direct Insurer within two (2) Business Days following the occurrence of an Exclusive Control Event, which, if applicable, shall not be until there has been a final, valid and binding determination with respect to any Grantor’s challenges to a notification of a “Mandatory Control Level Event” by the Commissioner.
(d)    In the event the Trustee receives a Notice of Exclusive Control, the Trustee thereafter will (i) immediately cease complying with entitlement orders originated by the Grantor in respect of the Trust Account and any Asset held therein that would otherwise be permitted under Section 2, and (ii) immediately comply with “entitlement orders” originated by the Beneficiary in respect of the Trust Account and any Asset held therein, in each case without further consent of the Grantor. The Beneficiary shall also provide notice to the Grantor and the Direct Insurer of such Notice of Exclusive Control at the same time provided to the Trustee.
(e)    The Trustee hereby acknowledges the Beneficiary’s security interest in the Collateral granted pursuant to clause (a) above, and will mark its records, by book-entry or otherwise, to indicate the Beneficiary’s security interest in the Collateral and the proceeds thereof. The Trustee has not entered into, and until the termination of this Agreement will not enter into, any agreement with any other Person: (i) which purports to grant any lien or security interest in the Trust Account or any Assets credited thereto, (ii) pursuant to which the Trustee has agreed to comply with entitlement orders of any other Person or otherwise agreed to give “control” over the Trust Account to any other Person or (iii) which purports to limit or condition the obligation of the Trustee to comply with entitlement orders from the Grantor and Beneficiary as set forth in Section 2 hereof. The Trustee hereby waives and releases, for the benefit of the Beneficiary, all liens, encumbrances, claims and rights of setoff the Trustee may have against the Trust Account or any Asset carried in the Trust Account on account of any fees, indebtedness or other obligations owed to the Trustee by the Grantor and agrees that the Trustee will look solely to the Grantor and the Income Account for payment of all such fees, indebtedness or other obligations; provided, that the foregoing shall not prohibit the Trustee from exercising any rights of setoff with respect to amounts which are withdrawn from the Trust Account at the Grantor’s direction in accordance with Section 2 hereof and in compliance with Section 9.6 of the Retrocession Agreement. 
(f)    The Beneficiary and the Direct Insurer agree that all Assets released from the Trust Account to Grantor or its designee in accordance with the terms and conditions of this Agreement shall be free and clear of any lien, encumbrance or security interest granted by the Grantor pursuant to this Agreement.
Section 12.    Commercial Mortgage Loans.
(a)    Except with respect to any Commercial Mortgage Loan withdrawn by the Beneficiary or the Direct Insurer in accordance with the terms hereof, the Grantor or the Direct Insurer, as applicable, shall have the sole and exclusive right, power and authority to service, administer, manage, liquidate, deal with, issue or withhold any consents or waivers, amend, modify, extend, or make any other decisions in respect of any Commercial Mortgage Loans in any manner that it shall choose, subject only to any limitations set forth in this Agreement, the applicable Servicing Agreement or in any other related agreement affecting the Commercial Mortgage Loans, as applicable; provided, that the Trustee shall be entitled to receive on behalf of the Grantor all payments made in respect of the Commercial Mortgage Loans (whether from any servicer, borrower or other Person), including principal and interest payments, proceeds and other income arising from or under such Commercial Mortgage Loans (after retention by the related servicer of such servicer’s expenses, required escrows and reserves to the extent contemplated pursuant to the terms of the 

applicable loan agreement and Servicing Agreement), as applicable, and to retain, use, enjoy the same subject only to the limitations set forth in this Agreement, the applicable Servicing Agreement and in any other related agreement affecting the Commercial Mortgage Loans.  Except with respect to any Commercial Mortgage withdrawn by the Beneficiary or the Direct Insurer in accordance with the terms hereof, the Grantor shall have the sole and exclusive right, power and authority to make decisions and take other actions in respect of any Commercial Mortgage Loans (and any related Underlying Assets) under any servicing agreement, loan document and any other related agreement affecting the Commercial Mortgage Loans or the related Underlying Assets, in each case, as fully and completely as if this Agreement had not been executed and delivered; provided, however, that the sale, transfer or assignment of any such Commercial Mortgage Loan shall only be effectuated by substitution, exchange and withdrawal pursuant to the terms of this Agreement.  The Grantor shall have the exclusive power and authority, acting alone or through sub-servicers, to do any and all things in connection with such servicing, administration, management and liquidation of the Commercial Mortgage Loans which it may deem necessary or desirable to maximize recoveries with respect thereto, subject to the limitations contained in this Agreement and any related agreements.  Without limiting the generality of the foregoing, the Grantor shall continue, and is hereby authorized and empowered hereunder, to prepare and file any and all financing statements, continuation statements and other documents or instruments necessary to maintain the lien on any Underlying Assets.  Notwithstanding anything to the contrary contained in this Agreement, the Trustee shall not date, endorse, record or transfer any Loan Assignment Document except in accordance with the written directions of the Grantor or the applicable investment manager or, (i) upon receipt of a Beneficiary Request for Withdrawal, in accordance with the written direction of the Beneficiary and (ii) upon receipt of a Direct Insurer Request for Withdrawal, in accordance with the written direction of the Direct Insurer.
(b)    The Trustee (not in its individual capacity but solely as Trustee hereunder), upon receipt of a written request from the Grantor, shall execute and deliver any powers of attorney and other documents provided to it which the Grantor determines, in the exercise of its reasonable judgment, are necessary in order to enable any servicer to carry out its duties under the applicable Servicing Agreement or any other servicing agreement, or to enable the Grantor to take appropriate action in respect of the ownership, assignment, transfer and liquidation of the Commercial Mortgage Loans (and any related Underlying Assets), as applicable, subject to the limitations in this Agreement.  The Trustee acknowledges that the Grantor may (in its sole discretion), from time to time, execute and deliver a limited power of attorney in order to enable a servicer to carry out their duties under the applicable Servicing Agreement relating to any Commercial Mortgage Loan or any related Underlying Assets.  The authority of the Grantor or any servicer shall include the power to (i) enforce, modify, amend, renew or extend the Commercial Mortgage Loans or the Underlying Assets, (ii) grant or withhold any consents or waivers under or in respect of the Commercial Mortgage Loans or the Underlying Assets, (iii) file and collect insurance claims, (iv) release any Underlying Asset or any other collateral or any party from any liability on or with respect to any of the Commercial Mortgage Loans, (v) compromise or settle any claims of any kind or character with respect to any of the Commercial Mortgage Loans, subject to any limitations provided herein, (vi) initiate, complete or otherwise take any action with respect to a foreclosure or deed in lieu of foreclosure, on any of the Underlying Assets, (vii) repair, replace, renovate, restore and improve the Underlying Assets, (viii) negotiate and contract to sell and sell any Commercial Mortgage Loan (including through receipt of a discounted pay-off on such Asset), (ix) commence, continue, 

negotiate, or settle litigation relating to a Commercial Mortgage Loan or the Underlying Assets, (x) make any servicing or other advances, (xi) act as a mortgagee in possession or receiver or in any other capacity with respect to the Underlying Assets, (xii) exercise any and all rights in respect of the Commercial Mortgage Loans and the Underlying Assets, or (xiii) take any action with respect to any security document securing a Commercial Mortgage Loan, effectuate foreclosure or other conversion of the ownership of any Underlying Asset, including the employment of attorneys, the institution of legal proceedings, the acceptance of compromise proposals, the filing of claims for mortgage insurance, the collection of liquidation proceeds, seeking a receiver, appointing a new property manager and any other matter pertaining to a Commercial Mortgage Loan or an Underlying Asset.  When the Grantor, in the exercise of its reasonable business judgment, finds it appropriate, it shall execute and deliver any instruments of satisfaction, cancellation, partial or full release, discharge, transfer and all other comparable instruments, with respect to the related Commercial Mortgage Loan or the Underlying Asset, as applicable, provided that the execution and delivery of such instrument is necessary in order to enable any servicer to carry out its duties under the Servicing Agreements or any related loan document.  Any such action taken by the Grantor shall be subject in all respects to the terms of this Agreement (including, without limitation, Section 4 regarding substitution of Assets in the Trust Account).  The Grantor may exercise all of the powers set forth herein in its own name.  Upon written request of the Grantor, the Trustee shall execute and deliver any documents provided to it and reasonably requested by the Grantor in furtherance of or incidental to any of the foregoing actions.
(c)    The Grantor may retain a professional servicer to service the Commercial Mortgage Loans on its behalf, in furtherance of the Grantor’s exclusive right, power and authority to service, manage and administer the Commercial Mortgage Loans in the Trust Account, upon reasonable advance written notice to but without the approval or consent of the Trustee, the Beneficiary and the Direct Insurer, but subject to the rights in and requirements of the applicable Servicing Agreement, provided that the retention of such servicer shall not relieve the Grantor of any of its obligations and liabilities hereunder.  The Grantor may remove any servicer under any Servicing Agreement pursuant to the terms of the applicable Servicing Agreement or such other servicing agreements and may appoint a successor servicer, without the consent or approval of, but only upon written notice of such removal and appointment to, the Trustee, the Beneficiary and the Direct Insurer.  The Grantor agrees to, and shall use commercially reasonable efforts to cause the servicer to, reasonably cooperate with the Beneficiary or the Direct Insurer to assist with the transfer of servicing responsibilities to the successor servicer appointed by the Beneficiary or the Direct Insurer.  In connection with any withdrawal by Beneficiary or the Direct Insurer, Grantor shall, or shall cause any such servicer to, transfer to the Beneficiary or the Direct Insurer all funds held by Grantor or such servicer with respect to such Commercial Mortgage Loan, including without limitation all collections, reserves and escrows relating to such Commercial Mortgage Loan.  
(d)    With the exception of the Loan Assignment Documents to be delivered to the Trustee in accordance with the terms of this Agreement, the servicer shall retain and be charged with maintaining possession of all documentation and files relating to the Commercial Mortgage Loans (the “Servicing File”).  Upon the deposit of any Commercial Mortgage Loan to the Trust Account, (i) the Grantor shall deliver (or cause to be delivered) to the Trustee a letter in the form attached hereto as Exhibit K, executed in blank by an authorized signatory and addressed to the applicable servicer, instructing such servicer to release the Servicing File to the Trustee or to the Beneficiary or the Direct Insurer in accordance with the terms hereof, whenever requested by the Trustee (the 

“Document Release Letter”), and (ii) within thirty (30) calendar days of the date of deposit, the Grantor shall provide the servicer’s list of the documents in the Servicing File to the Trustee, the Beneficiary and the Direct Insurer.  The delivery of the Document Release Letter by the Grantor to the Trustee shall constitute a representation and certification by the Grantor to the Trustee, the Beneficiary and the Direct Insurer that such Document Release Letter is sufficient under the terms of the applicable Servicing Agreement to require the servicer to release the Servicing File to the Trustee without the further consent of the Grantor or any other Person.  The Servicing Agreements shall not be amended, modified or supplemented in any way that adversely impacts the ability of the Trustee to obtain the Servicing File without the prior written consent of the Beneficiary and the Direct Insurer.  As promptly as practicable following the date hereof, and in any event within thirty (30) days of the date hereof, the Grantor shall arrange with the servicer to separately designate the Servicing File from other documents held by the servicer for the benefit of the Grantor and provide written notice to the Trustee, the Beneficiary and the Direct Insurer when such access has been arranged.  Such direct access arrangements with the servicer shall not be changed without the consent of the Beneficiary and the Direct Insurer. The Trustee acknowledges that (x) the Beneficiary may instruct the Trustee to withdraw any documents in the Servicing File in accordance with a Beneficiary Request for Withdrawal and (y) the Direct Insurer may instruct the Trustee to withdraw any documents in the Servicing File in accordance with a Direct Insurer Request for Withdrawal.
(e)    In order to facilitate the servicing, administration and enforcement of the Commercial Mortgage Loans by or on behalf of the Grantor, and the servicing of the Commercial Mortgage Loans by a servicer, the Grantor (if it is not using a third party servicer) or servicers may temporarily hold collections on such Commercial Mortgage Loans prior to the time they are remitted to the Trustee and may hold physical possession of any related documents or instruments.  Upon written request of the Grantor to the Trustee (with a simultaneous copy to the Beneficiary and the Direct Insurer, provided the Trustee shall not be required to confirm delivery of such copy) pursuant to the terms hereof, the Trustee shall promptly release, deliver or transfer such documents and instruments as may be requested from time to time by the Grantor.  The Trustee and the Grantor hereby acknowledge that the Grantor and the servicers are acting as bailees of the Trustee in holding such monies pursuant to this Agreement (with respect to the Grantor) and the applicable Servicing Agreement, and that the Grantor and the servicers are acting as the Trustee’s bailee in holding any documents or instruments released, delivered or transferred to the Grantor or any servicer pursuant to this Agreement, and any other items constituting a part of the Trust Account which from time to time come into the possession of the Grantor or any servicer; provided, however, the Trustee shall incur no liability whatsoever for any acts of the Grantor and the servicers in their capacity as bailee.
(f)    Each of the Trustee, Beneficiary and the Direct Insurer hereby acknowledges that the rights and obligations of the Grantor under any Servicing Agreement have not been transferred to or accepted or assumed by the Trustee and are otherwise expressly reserved by and to the Grantor to act on its own behalf and in any manner that it so chooses, without any consent or approval rights on the part of the Trustee, the Beneficiary or the Direct Insurer hereunder, subject to the terms of this Agreement and any related agreement.
(g)    The Grantor hereby acknowledges and agrees that the Trustee shall not have any obligations relating to any future funding commitments in respect of the Assets (including, for the avoidance of doubt, the Commercial Mortgage Loans).
Section 13.    Termination of the Trust Account.  This Agreement, except for the indemnities provided herein, may be terminated only after the Grantor, the Beneficiary and the 

Direct Insurer have given the Trustee joint written notice of their intention to terminate this Agreement and the Trust Account (the “Notice of Intention”). Upon receipt of the Notice of Intention, and without further authorization from the Beneficiary or any other Person, the Trustee shall promptly transfer to the Grantor, the Beneficiary or the Direct Insurer, in accordance with the joint direction of the Grantor, the Beneficiary and the Direct Insurer contained in the Notice of Intention, any and all Assets remaining in the Trust Account, at which time all liability of the Trustee with respect to the Assets so transferred shall cease. This Agreement, except for the indemnities provided herein, and the Trust Account shall terminate when all of the Assets have been so delivered by the Trustee in accordance with the terms of this Agreement.
Section 14.    Definitions.  Except as the context shall otherwise require, the following terms shall have the following meanings for purposes of this Agreement (the definitions to be applicable to both the singular and the plural forms of each term defined if both forms of such term are used in this Agreement):
The term “Affiliate” means any other Person that directly or indirectly controls, is controlled by, or is under common control with, the first Person.
The term “Beneficiary” shall include any successor of the Beneficiary by operation of law including, without limitation, any liquidator, rehabilitator, receiver or conservator.
The term “Book Value” means, with respect to any Asset and as of any date of determination, the amount stated for such assets, including accrued interest, on the Grantor’s statutory financial statements determined in accordance with then applicable statutory accounting principles.
The term “Control” (including the related terms “controlled by” and “under common control with”) shall mean the ownership, directly or indirectly, of more than 50% of the voting securities of a corporation.
The term “Direct Insurer” shall include any successor of the Direct Insurer by operation of law including, without limitation, any liquidator, rehabilitator, receiver or conservator.
The term “Commercial Mortgage Loan” means commercial mortgage loans as permitted under the Investment Guidelines and deposited into the Trust Account, which, for the avoidance of doubt, may include any participation interests, provided such interests are (a) obtained in accordance with the applicable loan documents and are subject to a valid participation agreement and (b) are on a pari passu economic basis with the other participants, but shall not include any commercial mortgage loans evidenced by multiple promissory notes.
The term “Custody Transmission” means, in the case of each Commercial Mortgage Loan held by the Trustee, a computer-readable transmission containing the following information (and such other data as may be mutually agreed upon in writing by the Grantor and the Trustee), which shall be delivered by the Trustee to the Grantor and the Beneficiary (or the Direct Insurer on behalf of the Beneficiary) pursuant to Section 1.2(c) of this Agreement: the Mortgage Loan Number, Underlying Asset’s address, Mortgagor’s name, and Mortgagor’s address, for each Commercial Mortgage Loan. The Trustee shall incorporate the outstanding principal amount of the Commercial Mortgage Loan, whether or not a Commercial Mortgage Loan is specially serviced and all other agreed upon data, to the extent provided to the Trustee, into the Custody Transmission.  Each Custody 

Transmission delivered shall (a) be cumulative, and shall cover all Commercial Mortgage Loans for which related Loan Assignment Documents are being held by the Trustee on the date of such Custody Transmission, and (b) include a then-current listing of all Loan Assignment Documents.  The form of the Custody Transmission shall not be modified without the consent of the Parties, not to be unreasonably conditioned, delayed or withheld. 
The term “Eligible Investments” means assets (i) qualifying as admitted assets for life insurance companies under the insurance laws of the State of Connecticut and (ii) complying with the requirements specified by the Investment Guidelines.
The term “Environmental Damages” means any and all claims, Losses, liabilities, damages, fines, penalties, and out-of-pocket costs and expenses (including reasonable attorney’s fees and expenses) of whatever kind or nature, known or unknown, contingent or otherwise, arising out of, or in any way related to (a) the presence, disposal, release or threatened release of any Hazardous Materials which are on, from or affecting soil, water, vegetation, buildings, personal property, persons, animals or otherwise; (b) any personal injury (including wrongful death), property damage (real or personal) or natural resource damage arising out of or related to such Hazardous Materials; (c) any third party claim brought or threatened, settlement reached, government order, or any legal policies or legal requirements having the force of law imposed on the Trustee, which are based upon or in any way related to such Hazardous Materials, including attorney and consultant fees and expenses, investigation and laboratory fees, court costs and litigation expenses; and (d) any violations of Environmental Law.
The term “Environmental Law” means the Comprehensive Environmental Response, Compensation and Liability Act, as amended, the Resource Conservation and Recovery Act of 1976, as amended, and any other applicable federal, state, local, or foreign statute, rule, regulation, order, judgment, directive, decree, permit, license or common law as in effect now, previously, or at any time during the term of this Agreement, and regulating, relating to, or imposing liability or standards of conduct concerning air emissions, water discharges, noise emissions, the release or threatened release or discharge of any Hazardous Material into the environment, the use, manufacture, production, refinement, generation, handling, treatment, storage, transport or disposal of any Hazardous Material or otherwise concerning pollution or the protection of the outdoor or indoor environment, or human health or safety in relation to exposure to Hazardous Materials.
The term “Exclusive Control Event” means that there has been a Mandatory Control Level Event with respect to the Grantor within the meaning of [insert applicable citation to the insurance regulation of the Grantor’s domiciliary state].
The term “Governmental Authority” means any foreign or national government, any state or other political subdivision thereof or any self-regulatory authority, and any entity exercising executive, legislative, judicial, regulatory or administrative functions of or pertaining to government.
The term “Hazardous Materials” means, without limit, any pollutant, contaminant or hazardous, toxic, medical, biohazardous, or dangerous waste, substance, constituent or material, defined or regulated as such in, or for the purpose of, any applicable Environmental Law, including any asbestos, any petroleum, oil (including crude oil or any fraction thereof), any radioactive 

substance, any polychlorinated biphenyls, any toxin, chemical, disease-causing agent or pathogen, and any other substance that gives rise to liability under any applicable Environmental Law.
The term “Loan Assignment Document Certification” means a certification substantially in the form of Exhibit J attached hereto.
The term “Loan Assignment Documents” means, (a) with respect to any whole Commercial Mortgage Loans, (i) an original allonge (“Loan Assignment Allonge”) executed in a form sufficient to properly assign and transfer each original promissory note or notes and any prior transfer documents pertaining to such notes (collectively and severally, the “Note”) evidencing such Commercial Mortgage Loan and attaching the original Note, (ii) one or more original assignment agreements executed in favor of the Trustee (solely in its capacity as Trustee and not in its individual capacity), in recordable form and otherwise in a form sufficient to transfer and assign of record each of the mortgages, deeds of trust, deeds to secure debt or similar instruments securing such Commercial Mortgage Loan (the “Security Instruments”) and each of any separate assignments of rents and leases and similar agreements securing such Commercial Mortgage Loan (the “Lease Assignments”), (iii) UCC-3 assignments or similar assignments in form sufficient to assign each of the financing statements (including fixture filings) required in connection with such Commercial Mortgage Loan (the “Financing Statements”), to the Trustee, and (iv) an original executed omnibus assignment in favor of the Trustee, in form and substance sufficient to transfer to Trustee all of the Grantor’s right, title and interest in and to the Commercial Mortgage Loan to the Trustee, including specifically, without limitation, all of the Grantor’s rights and interests in and to all guaranties, environmental indemnification agreements, security agreements, loan agreements and similar agreements; (b) with respect to any Commercial Mortgage Loans constituting participation interests, (i) an original participation certificate executed in a form sufficient to properly assign such participation interest (the “Participation Certificate”) and (ii) a copy of the applicable participation agreement (the “Participation Agreement”) and (c) with respect to all Commercial Mortgage Loans in subclauses (a) and (b) above, a Loan Assignment Document Certification delivered by the Grantor to the Trustee in respect of such Commercial Mortgage Loan.
The term “Losses” means, collectively, losses, costs, expenses (including reasonable attorney’s fees and expenses), damages, liabilities and claims.
The term “Monthly Reinsurance Settlement Report” has the meaning set forth on Exhibit D attached hereto.
The term “Net Collections” means all principal collections on an Asset, insurance proceeds and condemnation awards arising from or under such Asset, after retention by the related servicer of required escrows and reserves to the extent contemplated pursuant to the terms of the applicable loan agreement and Servicing Agreement.
The term “Person” means and includes an individual, a corporation, a partnership, an association, a trust, an unincorporated organization or a government or political subdivision thereof.
The term “Qualified United States Financial Institution” means an institution that (1) is organized, or in the case of a United States branch or agency office of a foreign banking organization, 

licensed under the laws of the United States or any state thereof and has been granted authority to operate with fiduciary powers; and (2) is regulated, supervised, and examined by federal or state authorities having regulatory authority over banks and trust companies.
The term “Retrocession Binder” means that certain binding commitment agreement, dated as of [__], by and among the Beneficiary and the Grantor.
The term “Representative” of a Person shall mean the directors, officers, employees, advisors, agents, consultants, independent accountants, investment bankers, counsel or other representatives of such Person and of such Person’s Affiliates.
The term “Servicing Agreement” means any servicing agreement entered into by the Grantor and any third party with respect to any Commercial Mortgage Loan.
The term “Trailing Document” means those Loan Assignment Documents referenced in subclauses (a)(ii) and (iii) and (b)(ii) of the definition thereof.
The term “Trustee Loan Assignment Documents” means, with respect to (a) any whole Commercial Mortgage Loan, documents substantially similar to the Loan Assignment Documents pertaining to such whole Commercial Mortgage Loan, (and with respect to the allonge, attaching the original Loan Assignment Allonge and Note), (b) any participated Commercial Mortgage Loan, an original Participation Certificate, and (c) in either case, any other required transfer documents,  in each case provided to the Trustee by the Person requesting the release of the applicable Commercial Mortgage Loan, for execution in appropriate form.
The term “Underlying Asset” means any property or other asset serving as collateral for any Commercial Mortgage Loan.
Section 15.    Governing Law.  Except for the rights, duties, privileges, immunities and standard of care of the Trustee, which shall be governed by the laws of the State of the New York without regard to its conflict of laws or principles, and as otherwise expressly provided herein, the provisions of and validity and construction of this Agreement and any amendments thereto shall be governed by and construed in accordance with the laws of the State of Connecticut without regard to its conflict of laws provision, and the Trust Account created hereunder shall be administered in accordance with the laws of said state. Each of the Parties hereby submits to the personal jurisdiction of and each agrees that all proceedings relating hereto shall be brought in courts located within the City and State of New York.
Section 16.    WAIVER OF JURY TRIAL.  EACH PARTY HERETO HEREBY WAIVES TRIAL BY JURY IN ANY JUDICIAL PROCEEDING INVOLVING, DIRECTLY OR INDIRECTLY, ANY MATTER (WHETHER SOUNDING IN TORT, CONTRACT OR OTHERWISE) IN ANY WAY ARISING OUT OF OR RELATED TO THIS AGREEMENT OR THE RELATIONSHIP ESTABLISHED HEREUNDER. THIS PROVISION IS A MATERIAL INDUCEMENT FOR THE PARTIES TO ENTER INTO THIS AGREEMENT.
Section 17.    Dispute Resolution.  Except as otherwise specifically provided in Section 2(h), or in the event that the Beneficiary delivers a Notice of Exclusive Control to the Trustee, in the event of any dispute between or conflicting claims by or between the Grantor, the Beneficiary 

and the Direct Insurer and/or any other Person or entity with respect to any Assets, the Trustee shall be entitled, in its sole discretion, to refuse to comply with any and all claims, demands or instructions with respect to such Assets so long as such dispute or conflict shall continue, and the Trustee shall not be or become liable in any way to the Grantor, the Beneficiary or the Direct Insurer for failure or refusal to comply with such conflicting claims, demands or instructions.  The Trustee shall be entitled to refuse to act until, in its sole discretion, either (a) such conflicting or adverse claims or demands shall have been determined by a final order, judgment or decree of a court of competent jurisdiction, which order, judgment or decree is not subject to appeal, or settled by agreement between the conflicting parties as evidenced in a writing satisfactory to the Trustee or (b) the Trustee shall have received security or an indemnity satisfactory to it sufficient to hold it harmless from and against any and all Losses which it may incur by reason of so acting.  The Trustee may, in addition, elect, in its sole discretion, to commence an interpleader action or seek other judicial relief or orders as it may deem, in its sole discretion, necessary.  The costs and expenses (including reasonable attorneys’ fees and expenses) incurred in connection with such proceeding shall be paid by, and shall be deemed a joint and several obligation of, the Grantor, the Beneficiary and the Direct Insurer.
Section 18.    Successors and Assigns.  This Agreement shall be binding upon and inure to the benefit of the Parties and their respective successors, permitted assigns and legal Representatives. Neither this Agreement, nor any right or obligation hereunder, may be assigned by any Party without the prior written consent of the other Parties hereto. Any assignment in violation of this Section 18 shall be void and shall have no force and effect.
Section 19.    Severability.  If any provision of this Agreement is held to be void or unenforceable, in whole or in part, (a) such holding shall not affect the validity and enforceability of the remainder of this Agreement, including any other provision, paragraph or subparagraph, and (b) the Parties agree to attempt in good faith to reform such void or unenforceable provision to the extent necessary to render such provision enforceable and to carry out its original intent.
Section 20.    Entire Agreement.  This Agreement constitutes the entire agreement among the Parties with respect to the subject matter hereof, and there are no understandings or agreements, conditions or qualifications relative to this Agreement which are not fully expressed in this Agreement or the Retrocession Agreement.
Section 21.    Amendments.  This Agreement may be modified or otherwise amended, and the observance of any term of this Agreement may be waived, only if such modification, amendment or waiver is in writing and signed by the Parties.
Section 22.    Notices.  All notices, requests, instructions, directions, demands and other communications under this Agreement must be in writing and will be deemed to have been duly given or made as follows: (a) if sent by registered or certified mail in the United States, return receipt requested, or by reputable overnight air courier, upon receipt; (b) if sent by facsimile transmission, with a copy mailed on the same day in the manner provided in (a) above, when transmitted; or (c) if otherwise actually personally delivered, when delivered, and shall be delivered as follows:

If to the Grantor:
[___]
If to the Direct Insurer:

[___]
If to the Beneficiary:
Commonwealth Annuity and Life Insurance Company
20 Guest Street
Brighton, MA  02135
Facsimile:  (508) 460-2401
Attention:  Joel Volcy, Managing Director and Chief Operating Officer
With a copy to:
Commonwealth Annuity and Life Insurance Company
20 Guest Street
Brighton, MA  02135
Facsimile: (508) 460-2401
Attention:  Samuel Ramos, Esq., General Counsel and Secretary
If to the Trustee:
[___]
or to such other address or to such other Person as a Party may have last designated by notice to the other Parties.
Section 23.    Headings.  The headings of the Sections have been inserted for convenience of reference only and shall not be deemed to constitute a part of this Agreement.
Section 24.    Counterparts.  This Agreement may be executed in any number of counterparts, each of which when so executed and delivered shall constitute an original, but such counterparts together shall constitute but one and the same Agreement.
Section 25.    USA Patriot Act.  The Grantor, the Beneficiary and the Direct Insurer hereby acknowledge that the Trustee is subject to federal laws, including the Customer Identification Program (“CIP”) requirements under the USA PATRIOT Act and its implementing regulations, pursuant to which the Trustee must obtain, verify and record information that allows the Trustee to identify the Grantor, the Beneficiary and the Direct Insurer. Accordingly, prior to opening the Trust Account hereunder, the Trustee will ask the Grantor, the Beneficiary and the Direct Insurer to provide certain information including, but not limited to, the Grantor’s, the Beneficiary’s and the Direct Insurer’s name, physical address, tax identification number and other information that will help the Trustee to identify and verify the Grantor’s, the Beneficiary’s and the Direct Insurer’s identity such as organizational documents, certificate of good standing, license to do business, or other pertinent identifying information. Each of the Grantor, the Beneficiary and the Direct Insurer agrees that the Trustee cannot open the Trust Account hereunder unless and until the Trustee verifies the Grantor’s, the Beneficiary’s and the Direct Insurer’s identity in accordance with the Trustee’s CIP.
Section 26.    Representations.  Each Party represents and warrants to the others that it has full authority to enter into this Agreement upon the terms and conditions hereof and that the 

individual executing this Agreement on its behalf has the requisite authority to bind such Party to this Agreement, and that the Agreement constitutes a binding obligation of such Party enforceable in accordance with its terms.
Section 27.    Required Disclosure.  The Trustee is authorized to supply any information regarding the Trust Account and related Assets that is required by any law, regulation or rule now or hereafter in effect. Each of the Grantor, the Beneficiary and the Direct Insurer agrees to supply the Trustee with any required information if it is not otherwise reasonably available to the Trustee, except for information that is subject to the obligation of confidentiality and is not required by the Trustee to comply with any applicable law, regulation or rule now or hereafter in effect.
Section 28.    Shareholder Communication Act, Etc.  With respect to securities issued in the United States, the Shareholders Communications Act of 1985 (the “Act”) requires Trustee to disclose to the issuers, upon their request, the name, address and securities position of its Grantor who are (a) the “beneficial owners” (as defined in the Act) of the issuer’s securities, if the beneficial owner does not object to such disclosure, or (b) acting as a “respondent bank” (as defined in the Act) with respect to the securities. (Under the Act, “respondent banks” do not have the option of objecting to such disclosure upon the issuers’ request.) The Act defines a “beneficial owner” as any Person who has, or shares, the power to vote a security (pursuant to an agreement or otherwise), or who directs the voting of a security. The Act defines a “respondent bank” as any bank, association or other entity that exercises fiduciary powers which holds securities on behalf of beneficial owners and deposits such securities for safekeeping with a bank, such as Trustee. Under the Act, Grantor is either the “beneficial owner” or a “respondent bank.”
[___] Grantor is the “beneficial owner,” as defined in the Act, of the securities to be held by Trustee hereunder.
[___] Grantor is not the beneficial owner of the securities to be held by Trustee, but is acting as a “respondent bank,” as defined in the Act, with respect to the securities to be held by Trustee hereunder.
IF NO BOX IS CHECKED, TRUSTEE SHALL ASSUME THAT GRANTOR IS THE BENEFICIAL OWNER OF THE SECURITIES.
For beneficial owners of the securities only:

[___] Grantor objects 

[___] Grantor does not object to the disclosure of its name, address and securities position to any issuer which requests such information pursuant to the Act for the specific purpose of direct communications between such issuer and Grantor.
IF NO BOX IS CHECKED, TRUSTEE SHALL RELEASE SUCH INFORMATION UNTIL IT RECEIVES A CONTRARY WRITTEN INSTRUCTION FROM GRANTOR.
With respect to securities issued outside of the United States, information shall be released to issuers only if required by law or regulation of the particular country in which the securities are located.
The Grantor agrees to disseminate in a timely manner any proxies or requests for voting instructions, other proxy soliciting material, information statements, and/or annual reports that it receives to any other beneficial owners.

Section 29.    Information Sharing.
The Bank of New York Mellon Corporation is a global financial organization that operates in and provides services and products to clients through its affiliates and subsidiaries located in multiple jurisdictions (the “BNY Mellon Group”). The BNY Mellon Group may (a) centralize in one or more affiliates and subsidiaries certain activities (the “Centralized Functions”), including audit, accounting, administration, risk management, legal, compliance, sales, product communication, relationship management, and the compilation and analysis of information and data regarding the Grantor, the Beneficiary and the Direct Insurer (which, for purposes of this provision, is the name and business contact information for the Grantor’s, the Beneficiary’s and the Direct Insurer’s respective employees and Representatives) and the accounts established pursuant to this Agreement (“Account Information”) and (b) use third party service providers to store, maintain and process Account Information (“Outsourced Functions”). Notwithstanding anything to the contrary contained elsewhere in this Agreement and solely in connection with the Centralized Functions and/or Outsourced Functions, the Grantor’s, the Beneficiary’s and the Direct Insurer’s respective consent to the disclosure of, and authorize BNY Mellon to disclose Account Information to (i) other members of the BNY Mellon Group (and their respective officers, directors and employees) and to (ii) third-party service providers (but solely in connection with Outsourced Functions) who are required to maintain the confidentiality of the Grantor’s, the Beneficiary’s and the Direct Insurer’s Account Information in furtherance of the Trustee’s performance of its obligations hereunder.  In addition, the BNY Mellon Group may aggregate Account Information with other data collected and/or calculated by the BNY Mellon Group, and the BNY Mellon Group will own all such aggregated data, provided that the BNY Mellon Group shall not distribute the aggregated data in a format that identifies Account Information with the Grantor, the Beneficiary and the Direct Insurer specifically.  The Grantor, the Beneficiary and the Direct Insurer each as to itself also consent to the disclosure of the Grantor’s, the Beneficiary’s and the Direct Insurer’s Account Information to governmental and regulatory authorities in jurisdictions where the BNY Mellon Group operates and otherwise as required by law.
Section 30.    Successors and Assigns of Trustee.
Any corporation or other company into which the Trustee may be merged or converted or with which it may be consolidated, or any corporation or other company resulting from any merger, conversion or consolidation to which the Trustee shall be a party, or any corporation or other company succeeding to the business of the Trustee shall be the successor of the Trustee hereunder without the execution or filing of any paper with any party hereto or any further act on the part of any of the parties hereto, except where an instrument of transfer or assignment is required by law to effect such succession, anything herein to the contrary notwithstanding.
[The rest of this page intentionally left blank.]
IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be executed and delivered by their respective officers thereunto duly authorized as of the date first above written.
COMMONWEALTH ANNUITY AND LIFE 
INSURANCE COMPANY, as Beneficiary

By:    
Name:  
Title:

[___], as Direct Insurer

By:    
Name:  
Title:

[RETROCESSIONAIRE], as Grantor

By:    
Name:
Title:

 [THE BANK OF NEW YORK MELLON], as Trustee

By:     
Name:  
Title:

EXHIBIT A
BENEFICIARY REQUEST FOR WITHDRAWAL

The undersigned, the [insert position] and a duly authorized officer of Commonwealth Annuity and Life Insurance Company (“Beneficiary”), does hereby certify that, pursuant to Section 2 of the Trust Agreement dated as of [___], 2018, entered into by and among the Beneficiary, [___] (“Direct Insurer”), [___] (the “Grantor”) and [The Bank of New York Mellon] (the “Trustee”) (the “Trust Agreement”) and the Annuity Retrocession Agreement dated as of [___], 2018, between the Beneficiary and the Grantor (the “Retrocession Agreement”), the Beneficiary is entitled to withdraw from the Trust Account (as defined in the Trust Agreement) established by the Grantor for the benefit of the Beneficiary and the Direct Insurer pursuant to the Trust Agreement, Assets with a current fair market value equal to $[_______] for the purpose[s] specified in Section 9.8(a) of the Retrocession Agreement.
[Certification to specify the basis for the withdrawal.]
Beneficiary hereby requests that the Trustee immediately transfer to [the Beneficiary] [such designee of the Beneficiary] [Account No. [•]] all right, title and interest in those Assets set forth on Schedule A attached hereto (which Assets have a fair market value equal to $[_____]) from the Trust Account established by Commonwealth for  the benefit of Beneficiary pursuant to the Trust Agreement. [Insert transfer instructions.]
This Certificate is a “Beneficiary Request for Withdrawal” within the meaning of Section 2(a) of the Trust Agreement.
Please notify the Grantor within two (2) Business Days of delivery of the withdrawn Assets.
	
		
	 
	COMMONWEALTH ANNUITY AND LIFE INSURANCE COMPANY

	 
	 

	 
	 

	Dated:
	 

	 
	Name:

	 
	Title:

cc: Grantor
cc: Direct Insurer

EXHIBIT B
DIRECT INSURER REQUEST FOR WITHDRAWAL
The undersigned, the [insert position] and a duly authorized officer of [___] (“Direct Insurer”), does hereby request that, pursuant to Section 2 of the Trust Agreement dated as of [___], 2018, entered into by and among the Direct Insurer, Commonwealth Annuity and Life Insurance Company (“the Beneficiary”), [___] (the “Grantor”) and The Bank of New York Mellon (the “Trustee”) (the “Trust Agreement”) and the Annuity Retrocession Agreement dated as of [___], 2018, between the Grantor and the Beneficiary (the “Retrocession Agreement”), the Direct Insurer is entitled to withdraw from the Trust Account (as defined in the Trust Agreement) established by the Grantor for the benefit of the Direct Insurer and The Beneficiary pursuant to the Trust Agreement, Assets with a current fair market value equal to $[_______] for the purpose[s] specified in Section 9.8(b) of the Retrocession Agreement.
[Certification to specify the basis for the withdrawal.]
Direct Insurer hereby requests that the Trustee immediately transfer to the Beneficiary all right, title and interest in those Assets set forth on Schedule A attached hereto (which Assets have a fair market value equal to $[_____]) from the Trust Account established by Commonwealth for  the benefit of Beneficiary pursuant to the Trust Agreement. [Insert transfer instructions.]
This Certificate is a “Direct Insurer Request for Withdrawal” within the meaning of Section 2(b) of the Trust Agreement.
Please notify the Grantor within two (2) Business Days of delivery of the withdrawn Assets.
	
		
	 
	[DIRECT INSURER]

	 
	 

	 
	 

	Dated:
	 

	 
	Name:

	 
	Title:

cc: Grantor
cc: Beneficiary

EXHIBIT C
GRANTOR REQUEST FOR WITHDRAWAL
The undersigned, the [insert position] and a duly authorized officer of [___] (the “Grantor”), does hereby certify that, pursuant to Section 2 of the Trust Agreement dated as of [___], 2018, entered into by and among Commonwealth Annuity and Life Insurance Company (“Beneficiary”), Grantor, [___] (“Direct Insurer”), and [The Bank of New York Mellon] (the “Trustee”) (the “Trust Agreement”) and the Annuity Retrocession Agreement dated as of [___], 2018, between Beneficiary and Grantor (the “Retrocession Agreement”), Grantor is entitled to withdraw from the Trust Account (as defined in the Trust Agreement) established by the Grantor for the benefit of the Beneficiary and the Direct Insurer pursuant to the Trust Agreement, Assets with a current fair market value equal to $[_____]. 
[Grantor hereby directs the Trustee to immediately deliver to [Grantor or its designee] [the Assets specified below] [and] [cash in the amount of $[_____]].  Grantor hereby attaches a copy of the applicable Monthly Reinsurance Settlement Report and hereby certifies that the conditions described in Section 9.6 of the Retrocession Agreement and Section 2(e)(i) of the Trust Agreement have been met.] [Note: for use if the proviso set forth in Section 9.6 applies.]
[Grantor hereby directs the Trustee to deliver to [Grantor or its designee] [the Assets specified below] [and] [cash in the amount of $[_____], immediately following the fifth (5th) Business Day after the date hereof unless Beneficiary or Direct Insurer shall have objected to such withdrawal in writing within such five (5) Business Day period.] [Note:  for use if the proviso set forth in Section 9.6 does not apply.]
[Insert transfer instructions]
This Certificate is a “Grantor Request for Withdrawal” within the meaning of Section 2(e) of the Trust Agreement.
Please notify the Beneficiary and the Direct Insurer within two (2) Business Days of delivery of the withdrawn Assets.
	
		
	 
	[GRANTOR]

	 
	 

	 
	 

	Dated:
	 

	 
	Name:

	 
	Title:

With copy to:  [Note:  for use if the proviso set forth in Section 9.6 does not apply.]
[Beneficiary]
[Address]
Facsimile:
Attention:

AND

[Direct Insurer]
[Address]
Facsimile:
Attention:      

EXHIBIT D
PROVISIONS OF THE RETROCESSION AGREEMENT
AND UNDERLYING REINSURANCE AGREEMENT
Set forth below is the text of the provisions of the Retrocession Agreement (the “Agreement”) that are referenced in this Trust Agreement.
Retrocession Agreement
Certain Definitions
“Adjusted MV Percentage” means, as of a given date, the percentage set forth in Schedule L applicable to such date.
“Affiliate” means, with respect to any Person, any other Person that directly or indirectly controls, is controlled by, or is under common control with, such Person.  “Control” (including the terms, “controlled by” and “under common control with”) means the possession, directly or indirectly, of the power to direct or cause the direction of the management and policies of a Person, whether through the ownership of voting securities, by contract or credit arrangement, as trustee or executor, or otherwise.
“[REDACTED]” means [REDACTED] or any successor thereto.  
“Book Value” means, with respect to Trust Account assets, at any date of determination, the amount stated for such assets on the Reinsurer’s statutory financial statements determined in accordance with then applicable statutory accounting principles.
“Business Day” means any day other than a Saturday, Sunday or other day on which banks in the Commonwealth of Massachusetts, the City of New York, New York or [______] are permitted or required to be closed.
“Business Covered” means the in-force block of Retroceded Contracts retroceded under this Agreement.
“Company” means Commonwealth Annuity and  Life Insurance Company, a life insurance company organized under the laws of the Commonwealth of Massachusetts.
“Covered Liabilities” shall have the meaning specified in the Underlying Reinsurance Agreement.
“Direct Insurer” means [___], a Connecticut-domiciled life insurer.
“Closing Date” means the date on which this Agreement is executed and delivered by the parties hereto.

“Effective Date” means the first calendar day of the month during which the Closing Date occurs.
“Eligible Trust Account Assets” means assets that comply with the Investment Guidelines.
“Extracontractual Obligations” means all Liabilities for (i) any fines, penalties, settlements, taxes, fees, forfeitures, costs or expenses or any compensatory, punitive, exemplary, special, treble, bad faith, tort, statutory or any other form of extra-contractual damages, or portion thereof, as well as all legal fees and expenses relating thereto, relating to, but not arising under the express terms and conditions of, or in excess of the applicable payment provisions or coverage limits of, the Retroceded Contracts, whether to contractholders, insureds, producers, agents, brokers, distributors, Governmental Authorities or any other Person, which arise from any actual or alleged act, error or omission committed by or on behalf of the Direct Insurer or Company, whether or not intentional, negligent, malicious, fraudulent, unlawful, in bad faith or otherwise, including, any act, error or omission of such Person, relating to (a) the form, marketing, sale, underwriting, production, issuance, cancellation, offering of elections or options under, or administration of, the Retroceded Contracts, (b) the investigation, defense, trial, settlement or handling of claims, benefits or payments in respect of any Retroceded Contracts, (c) the failure to pay, the delay in payment or errors in calculating or administering the payment of benefits, claims or any other amounts due or alleged to be due under or in connection with any Retroceded Contracts or (d) the failure of any of the Retroceded Contracts to qualify for their intended tax status and (ii) ex-gratia payments made by or on behalf of the Direct Insurer or Company.
“Governmental Authority” means any foreign or national government, any state or other political subdivision thereof or any self-regulatory authority, and any entity exercising executive, legislative, judicial, regulatory or administrative functions of or pertaining to government.
“Interest Maintenance Reserve” means the sum of (a) the Company’s existing interest maintenance reserve that is attributable to the Reinsured Risks immediately prior to the Closing Date, after giving effect to the execution of the Underlying Reinsurance Agreement, plus (b) the Company’s  interest maintenance reserve that is created on the Closing Date as a direct result of the transactions contemplated by this Agreement, plus (c) the amount of the interest maintenance reserve attributable to the Reinsured Risks that is created after the Closing Date and including the reserve established in Deemed Sales under Section 9.7, in each case determined in accordance with SAP applicable to the Company. 
“Market Value” means, with respect to any asset, the fair market value thereof as determined by the Reinsurer in good faith in accordance with the Market Value Methods.
“Market Value Methods” shall have the meaning specified in Schedule K.

“Market Value Required Balance” means, as of any given date, an amount equal to the product of (a) the Adjusted MV Percentage as of such date, times (b) the Reinsurer’s Quota Share of the NAIC Reserves as of such date.
“Milliman” means Milliman LLP or any successor thereto.
“Monthly Accounting Period” means each calendar month, provided that the initial Monthly Accounting Period shall commence on the Effective Date and end on the last day of the calendar month in which the Effective Date falls [alternatively, “shall be deemed to end on [___]”], and the final Monthly Accounting Period shall commence on the first day of the calendar month in which the Termination Date falls and end on the Termination Date.
“NAIC Reserves” means, as of any given date, an amount equal to the gross statutory reserves that are required to be held by the Company for purposes of its statutory financial statements with respect to the Retroceded Liabilities, determined in accordance with SAP applicable to the Company.
“Person” means any natural person, firm, limited liability company, general partnership, limited partnership, joint venture, association, corporation, trust, Governmental Authority or other entity.
“RBC Ratio” means, as of any given date, the ratio of (i) Total Adjusted Capital (as defined in the NAIC Risk Based Capital (RBC) Model Act, or in the rules and procedures prescribed by the NAIC with respect thereto, as in effect as of such date) to (ii) Company Action Level RBC (as defined in the NAIC Risk Based Capital (RBC) Model Act, or in the rules and procedures prescribed by the NAIC with respect thereto, as in effect as of such date).
“RBC Reporting Deadline” means, with respect to any calendar year, the date that is sixty (60) calendar days after the end of such calendar year and with respect to any calendar quarter, the date that is forty-five (45) calendar days after the end of such calendar quarter.
“Reinsurance Credit Event” means an event that causes the Company to be unable, for any reason attributable to the Reinsurer or a change in Applicable Law, to take full statutory financial statement credit for the reinsurance provided by this Agreement.  
“Reinsurer” means [Retrocessionaire], a life insurance company organized under the laws of [__].
“Reinsurer’s Quota Share” means [REDACTED].
“Reinsured Risks” means the Reinsurer’s Quota Share of the Retroceded Liabilities incurred by the Company.

“Required Balance” means, as of any given date, an amount equal to (x) of the sum of (a) the Reinsurer’s Quota Share of the NAIC Reserves plus (b) the Unamortized Interest Maintenance Reserve, where (i) other than following the occurrence and during the continuance of a Triggering Event, (x) equals [REDACTED]; and (ii) following the occurrence and during the continuance of a Triggering Event, (x) equals [REDACTED].
“Retroceded Contracts” means those contracts in force on the Effective Date ceded to the Company pursuant to the Underlying Reinsurance Agreement that are set out in Schedule A under the heading “Business Covered” and as listed, together with the NAIC Reserves in respect thereof, on an electronic bordereaux, delivered by the Company to the Reinsurer on the Closing Date, and any such contract reinstated after the Effective Date in accordance with the terms of the Underlying Reinsurance Agreement, but excluding any such contract that has been novated from the Direct Insurer to the Reinsurer.
“Retroceded Liabilities” means all liability of the Company for Covered Liabilities pursuant to and in accordance with the Underlying Reinsurance Agreement, but only to the extent, and insofar as, such Covered Liabilities relate to the Retroceded Contracts (including any Retroceded Contract reinstated in accordance with the terms of the Underlying Reinsurance Agreement); provided, that Retroceded Liabilities shall not include any Extracontractual Obligations other than any such Extracontractual Obligation for which the Reinsurer received prior notice of and the Reinsurer has expressly concurred, in writing, with the actions taken or not taken, or to be taken or not taken, by the Direct Insurer that led to the assessment of such Extracontractual Obligation.
“SAP” means, as to any insurance company, the statutory accounting practices prescribed by the Insurance Regulator in the jurisdiction in which such company is domiciled, consistently applied by such company.
“Termination Date” means the effective date of any termination of this Agreement as provided in Section 10.2.
“Third Party Actuary” means Milliman; provided if Milliman refuses or is otherwise not available to act in such capacity, the Third Party Actuary means a nationally recognized independent actuarial firm mutually agreed upon by the parties hereto; provided, that if the parties are unable to mutually agree on an actuarial firm within ten (10) Business Days from the date on which Milliman shall have provided the parties with notice of such refusal or unavailability, the parties hereto shall jointly request the President of the Society of Actuaries to appoint, within ten (10) Business Days from the date of such request, a nationally recognized actuarial firm independent of the Company, the Direct Insurer and the Reinsurer and their respective Affiliates to serve as the Third Party Actuary.
“Triggering Event” means any of the following occurrences:

(a) the Reinsurer’s RBC Ratio as of any quarter-end is below [REDACTED] and the Reinsurer has not cured such shortfall by the date that is twenty (20) calendar days after the applicable RBC Reporting Deadline; 
(b) there has been a failure by the Reinsurer to pay any undisputed amounts due hereunder within the due dates specified in this Agreement, or to fund the Trust Account in any undisputed amount required by Section 9.5 within the time required to fund the Trust Account; 
(c) a Reinsurance Credit Event has occurred and is continuing;
(d) the financial strength rating of the Reinsurer by [REDACTED]or below or has been withdrawn; provided that such downgrade or withdrawal has not occurred because (i) [REDACTED] has ceased to exist or has ceased to publicly provide financial strength ratings for U.S. life insurance companies generally or (ii) [REDACTED]has changed its financial strength ratings scale (in which case the closest equivalent of a [REDACTED] rating as of the date hereof will be applicable for this clause (d)); 
(e) any Guarantor fails to perform any of its obligations under the Guarantee applicable to such Guarantor and such Guarantor fails to cure such breach within twenty (20) Business Days after the date on which the Reinsurer or such Guarantor becomes aware of such breach, including but not limited to, the date on which the Company notifies the Reinsurer in writing of such breach; or
(f) the Reinsurer has been placed into liquidation, rehabilitation, conservation, supervision, receivership or similar proceedings (whether voluntary or involuntary), or there has been instituted against it proceedings for the appointment of a receiver, liquidator, rehabilitator, conservator or trustee in bankruptcy, or other agent known by whatever name, to take possession of its assets or assume control of its operations. 
“Trust Account” means the trust account established by the Reinsurer, as grantor, for the benefit of the Company and the Direct Issuer, and governed by the Trust Agreement.
“Trust Account Balance” means, as of a given date, the aggregate Book Value of all assets in the Trust Account, including accrued interest, on such date, determined in the manner set forth in Section 9.2.
“Trust Assets” means, as of a given date, the assets held in the Trust Account as of such date.
“Trustee” means the trustee of the Trust Account.
“Unamortized Interest Maintenance Reserve” means, with respect to any date of determination, the Reinsurer’s share of the Interest Maintenance Reserve which remains 

unamortized as of such date, determined in accordance with SAP applicable to the Reinsurer without giving effect to any retrocession by the Reinsurer.
“Underlying Reinsurance Agreement” means that certain Annuity Reinsurance Agreement, dated as of the date hereof, by and between the Direct Insurer, as ceding company, and the Company, as reinsurer, a copy of which is attached hereto at Exhibit 2.
Section 6.1
Section 6.1    Monthly Reinsurance Settlement Reports. 
(a)    As soon as practicable but not more than nine (9) Business Days following the end of each Monthly Accounting Period ending after the Effective Date (or, if later, within two (2) Business Days after delivery to the Company of the corresponding report under the Underlying Reinsurance Agreement), the Company shall deliver to the Reinsurer a monthly reinsurance settlement report in the form of Schedule G-1  (the “Monthly Reinsurance Settlement Report”) and seriatim data reports substantially in the form of Schedule G-2 (collectively, the “Monthly Reports”).
Section 9.5
Section 9.5.  Rebalancing the Trust Account.  
(a)    With respect to any calendar month after the Closing Date: 
(i) if the Trust Account Balance as of the end of such calendar month is less than the Required Balance set forth in the certificate contemplated by Section 6.2(b) for such calendar month, then the Reinsurer shall deposit additional Eligible Trust Account Assets into the Trust Account within ten (10) Business Days following the date such shortfall is determined so that the Trust Account Balance is no less than the Required Balance set forth in such certificate (after giving effect to any deposit made following the end of such calendar month pursuant to Section 9.5(b)); and 
(ii) if, after giving effect to the deposit, if any, into the Trust Account of Eligible Trust Account Assets pursuant to clause (i) of this Section 9.5(a) and to any deposit made following the end of such calendar month pursuant to Section 9.5(b), the Market Value of the Eligible Trust Account Assets held in the Trust Account as of the end of such calendar month is less than the Market Value Required Balance as of the end such calendar month, then Reinsurer shall deposit additional Eligible Trust Account Assets into the Trust Account within ten (10) Business Days following the date such shortfall is determined so that the Market Value of Eligible Trust Account Assets then held in the Trust Account is no less than the Market Value Required Balance. 
(b)    If, on the day a Triggering Event occurs, the Trust Account Balance (calculated as of such day) is less than the Required Balance after giving effect to the Triggering Event (calculated as of the end of the month immediately preceding the month during which the 

Triggering Event occurs), then the Reinsurer, on the fifth (5th) Business Day after the Triggering Event shall have occurred, shall deposit additional Eligible Trust Account Assets into the Trust Account so that the Trust Account Balance as of such day is no less than the Required Balance after giving effect to the Triggering Event as of the end of the month immediately preceding the month during which the Triggering Event occurred. For the avoidance of doubt, this Section 9.5(b) shall apply from time to time only if and so long as a Triggering Event remains in effect.
Section 9.6
Section 9.6.  Trust Account Withdrawals by the Reinsurer. 
(a)    If, as of any month end on and after the Closing Date, (x) the Trust Account Balance exceeds the Required Balance, then within ten (10) Business Days after the Reinsurer’s receipt of a Monthly Reinsurance Settlement Report for such month end, the Reinsurer may make a written demand to the Trustee, substantially in the form as attached to the Trust Agreement, to release to the Reinsurer assets in the Trust Account and the Trustee shall release such assets, subject to the Company’s prior written consent, which consent shall be required to be granted if all of, and only, the following conditions and those set forth in clause (x) above are satisfied after any such withdrawal and shall be deemed granted if the Company has not provided the Reinsurer and Trustee a good faith written response within five (5) Business Days of receipt of Reinsurer’s written demand (which response, if a rejection of such demand, shall specify in reasonable detail the reasons for such rejection): (i) no Recapture Event has occurred and is continuing (unless a recapture in respect of such Recapture Event is no longer exercisable); (ii) the Book Value, including accrued interest for so long as such interest is credited by the Trustee, of the Trust Account assets shall be no less than the Required Balance, (iii) the ratio of Market Value to Book Value of the aggregate Eligible Trust Account Assets in the Trust Account immediately following the withdrawal shall not be less than such ratio on the Business Day immediately prior to such withdrawal, (iv) after such withdrawal, the Market Value of the Eligible Trust Account Assets, including accrued interest, is no less than the Market Value Required Balance; and (v) all the assets held in the Trust Account after such withdrawal are Eligible Trust Account Assets; provided, however, that with respect to any withdrawal and transfer of cash in connection with the payment by the Reinsurer of an amount specified in a Monthly Reinsurance Settlement Report, if the conditions in (x) and (i) through (v) are all met, the Reinsurer may direct the Trustee to release such cash to the Company without prior notice to or approval by the Company, upon presentation to the Trustee of (1) a copy of the applicable Monthly Reinsurance Settlement Report delivered by the Company to the Reinsurer and (2) a certification to the Trustee, with a copy to the Company, that such conditions are met.
(b)    The Reinsurer covenants and agrees that it will not deliver a Reinsurer Withdrawal Notice to the Trustee to withdraw from the Trust Account all or any part of the Trust Assets and transfer such assets to the Reinsurer unless all the conditions set forth in Section 9.6(a) have been met.

(c)    In the event there is a dispute between the Company and the Reinsurer with respect to the Reinsurer’s rights to deliver a Reinsurer Withdrawal Notice and withdraw Trust Assets pursuant to this Section 9.6, the parties shall use their commercially reasonable efforts to negotiate a resolution of such dispute.  Should for any reason the dispute not be resolved within fifteen (15) Business Days after the Reinsurer receives notice from the Company disputing the amount requested for withdrawal by the Reinsurer in the Reinsurer Withdrawal Notice, such dispute shall be submitted to a Third Party Actuary in accordance with the procedures that apply to disputes with the Company by the Reinsurer with respect to Monthly Reinsurance Settlement Reports pursuant to Section 6.1. Until the final resolution of such dispute hereunder, the Reinsurer may not withdraw Trust Assets, provided, however, that to the extent the Company does not dispute Reinsurer’s right to withdraw a portion of the Trust Assets, the Reinsurer may deliver a Reinsurer Withdrawal Notice to the Trustee and withdraw any such undisputed amounts. 
(d)    If, notwithstanding the foregoing, a withdrawal is made in excess of the amount permitted by this Section 9.6, such excess amount (including interest paid or accrued thereon) shall be deemed to be held by the Reinsurer in constructive trust for the benefit of the Company and the Reinsurer shall return such excess amount (including interest paid or accrued thereon) to the Trust Account within one (1) Business Day following the date the Reinsurer becomes aware, or reasonably should have been aware, of such excess withdrawal.
Section 9.7
Section 9.7.  Substitution of Assets.  The Reinsurer may at any time, by written request to the Trustee and the prior written consent of the Company (which consent shall not be unreasonably withheld, conditioned or delayed), substitute or exchange assets contained within the Trust Account with other Eligible Trust Account Assets (such substituted or exchanged Eligible Trust Account Assets are referred to herein as “Replacement Assets”).   The Reinsurer represents and warrants that (a) the assets contained within the Trust Account (including any such Replacement Assets) shall remain Eligible Trust Account Assets following such substitution or exchange; (b) the Book Value, including accrued interest, and Market Value, including accrued interest, of such Replacement Assets that are deposited in or credited to the Trust Account shall be at least equal to the Book Value, including accrued interest, and Market Value, including accrued interest, respectively, of the assets contained within the Trust Account being removed from the Trust Account; (c) the difference, whether positive or negative, between Market Value, including accrued interest, and Book Value, including accrued interest, of the assets being removed from the Trust Account will be treated as a realized gain or loss, respectively, and new Interest Maintenance Reserve will be established in accordance with SAP for such realized gain or loss for the purposes of this Agreement (“Deemed Sale”); (d) the Replacement Assets shall be deposited into the Trust Account prior to or simultaneously with the removal of assets from the Trust Account in connection with any such substitution or exchange; and (e) the Reinsurer shall not make any substitutions under this Section 9.7 if it is in default in any material respect under any provision of this Agreement or the Trust Agreement.  Any written request provided by the Reinsurer 

pursuant to this Section 9.7 shall include the Reinsurer’s representation and warranty that such substitution or exchange meets the requirements of this Section 9.7.  Notwithstanding the foregoing, if an asset in the Trust Account no longer qualifies as an Eligible Trust Account Asset, then, within five (5) Business Days following the date on which the Reinsurer becomes aware of such circumstance, the Reinsurer shall replace such asset with one or more Eligible Trust Account Assets meeting the requirements of this Section 9.7.
Section 9.8
Section 9.8.  Permitted Use of Trust Account Assets. 
(a)    The Company shall be permitted to withdraw assets from the Trust Account only if (x) a Recapture Event has occurred and is continuing and (y) the Reinsurer has not paid an amount in full that is due and owing (or, if part of the amount is disputed in good faith, the undisputed portion) to the Company under this Agreement and any applicable payment period respect thereof (or, to the extent of the portion of the payment under good faith dispute, the dispute resolution period afforded the Reinsurer has expired); and then only for one or more of the following purposes: (1) to reimburse the Company for undisputed amounts due by, but not yet recovered from the Reinsurer under this Agreement in order to satisfy liabilities of the Reinsurer under this Agreement; and (2) to pay reasonable out-of-pocket expenses relating to the withdrawal, liquidation or enforcement of legal rights with respect to the Trust Account assets to the extent such amounts are not being disputed by the Reinsurer in good faith.  The Company may so withdraw assets from the Trust Account by written request to the Trustee signed by an authorized representative of the Company, substantially in the form as attached to the Trust Agreement (the “Company Withdrawal Notice”), to withdraw Trust Assets from the Trust Account.  The Company Withdrawal Notice shall be deemed to be a certification by the Company to the Trustee that the requirements of this Section 9.8(a) are satisfied, signed by a duly authorized officer of the Company.  Simultaneously with the Company submitting such written request to the Trustee, the Company shall provide written notice to the Reinsurer of its request to withdraw Trust Assets from the Trust Account together with a completed Company Withdrawal Notice for such proposed withdrawal in substantially the form of Exhibit 3.  A Company Withdrawal Notice shall specify the Trust Assets to be withdrawn and an instruction to the Trustee as to how such specified Trust Assets shall be delivered.  The Company may from time to time designate a third party (the “Company Designee”) in a Company Withdrawal Notice to whom all or part of the Trust Assets specified therein shall be delivered. The Company shall acknowledge receipt of any such Trust Assets withdrawn upon request by the Trustee.  Any Company Withdrawal Notice provided by the Company pursuant to this Section 9.8 shall be deemed to be a certification that the withdrawal meets the requirements of this Section 9.8.
(b)    The Direct Insurer shall be permitted to withdraw assets from the Trust Account, subject to the following sentence, only if (x) a Recapture Event (as defined in the Underlying Reinsurance Agreement) has occurred and is continuing and (y) the Company shall have failed to pay to the Direct Insurer an amount that is due to the Direct Insurer under the 

Underlying Reinsurance Agreement where such amount constitutes a Retroceded Liability (a “Direct Insurer Claim Amount”), following written notice to the Company of its failure to pay the Direct Insurer Claim Amount and the Company’s failure to pay such Direct Insurer Claim Amount within the applicable cure period set forth in the Underlying Reinsurance Agreement.  If the conditions in the preceding sentence are satisfied, then the Direct Insurer shall be permitted to withdraw from the Trust Account in an amount not to exceed the Reinsurer’s Quota Share of the Direct Insurer Claim Amount.  The Company acknowledges and agrees that if (i) the Direct Insurer withdraws from the Trust Account in the circumstances permitted by this Section 9.8(b) and (ii) the Reinsurer disputes in good faith that the Reinsurer’s Quota Share of the Direct Insurer Claim Amount is an amount for which the Reinsurer is liable under this Agreement, then, pending resolution of such dispute between the Company and the Reinsurer, the Company shall promptly deposit into the Trust Account Eligible Trust Account Assets having a Book Value and a Market Value equal to the disputed portion of the amount withdrawn by the Direct Insurer.
Adjusted MV Percentage (Schedule L to the Retrocession Agreement)
See Schedule 1 to this Exhibit D.
Form of Monthly Reinsurance Settlement Report (Schedule G-1 to the Retrocession Agreement)
See Schedule 2 to this Exhibit D.
Market Value Methods (Schedule K to the Retrocession Agreement)
See Schedule 3 to this Exhibit D.

SCHEDULE 1 TO EXHIBIT D
ADJUSTED MV PERCENTAGE 
The Adjusted MV Percentage shall equal 100% as of the Effective Time. At each subsequent time, the Adjusted MV Percentage shall equal:
		
	a)
	100%, minus

		
	b)
	(i) divided by (ii):

		
	(i)
	The Unamortized Interest Maintenance Reserve as of the Effective Date minus the Unamortized Interest Maintenance Reserve as of such date of determination 

		
	(ii)
	The Unamortized Interest Maintenance Reserve as of the Effective Date plus Reinsurer’s Quota Share of NAIC Reserves as of the Effective Date.

Below is an illustration of the calculation:

	
						
	 
	Reinsurer’s Quota Share of NAIC Reserves
	Unamortized Interest Maintenance Reserve
	 
	Adjusted MV Percentage

	 
	 
	Calculation
	Value

	Effective Date
	1000
	100
	 
	=100%-(100-100)/(100+1000)
	100%

	Time 1
	900
	60
	 
	=100%-(100-60)/(100+1000)
	96%

	Time 2
	800
	20
	 
	=100%-(100-20)/(100+1000)
	93%

	Time 3
	700
	0
	 
	=100%-(100-0)/(100+1000)
	91%

SCHEDULE 2 TO EXHIBIT D
MONTHLY REINSURANCE SETTLEMENT REPORT

[see attached.]

SCHEDULE 3 TO EXHIBIT D
MARKET VALUE METHODS
In determining the market value of any Eligible Asset, the Reinsurer shall use prices published by using the “Pricing Services Hierarchy” below for assets for which such prices are available, and for assets for which such prices are not available, the Reinsurer shall determine the market value (the “Unpublished Market Value”) of such assets in accordance with the methodologies used by the Reinsurer in determining the market value of assets of the same or similar type as such assets held in its own general account (other than the Trust Assets).

If the Company disputes the Reinsurer’s determination of an Unpublished Market Value of any asset, and the parties are unable to resolve such dispute within ten (10) calendar days of the origination of such dispute, then the Unpublished Market Value of such asset shall be determined by a Valuation Expert, provided, that the Valuation Expert’s determination of Unpublished Market Value shall be within the range of the values provided by the Reinsurer and the Company (inclusive of such values), and, in each case, the parties shall be bound by such determination. Until such time as the Valuation Expert has determined the Unpublished Market Value in dispute, the applicable Unpublished Market Value shall be as determined by the Reinsurer. All fees, costs and expenses relating to the foregoing shall be paid in equal shares by the parties hereto.

Pricing Services Hierarchy

Reinsurer shall use prices published by Interactive Data Corporation (or any successor organization) or, for assets as to which Interactive Data Corporation (or any successor organization) does not, at such time, provide prices, then such prices published by (in the following priority):
		
	1.
	Barclays Capital’s “Barclays Index” pricing service

		
	2.
	Any other nationally recognized pricing service provider as the Company shall approve (such approval not to be unreasonably withheld)

EXHIBIT E
BENEFICIARY CERTIFICATION OF WITHDRAWAL
The undersigned, the [insert position] and a duly authorized officer of Commonwealth Annuity and Life Insurance Company (“Beneficiary”), does hereby certify that, pursuant to Section 2 of the Trust Agreement dated as of [___], 2018, entered into by and among [___] (“Grantor”), [___] (“Direct Insurer”), Beneficiary and [The Bank of New York Mellon] (the “Trustee”) (the “Trust Agreement”) and the Annuity Retrocession Agreement dated as of [___], 2018, between Beneficiary and Grantor (the “Retrocession Agreement”), Beneficiary has withdrawn from the Trust Account (as defined in the Trust Agreement) established by Grantor for the benefit of Beneficiary and Direct Insurer pursuant to the Trust Agreement, Assets with a current fair market value equal to $[_____].  Beneficiary hereby certifies that the conditions described in Section 9.8(a) of the Retrocession Agreement have been met. 
	
		
	 
	COMMONWEALTH ANNUITY AND LIFE INSURANCE COMPANY

	 
	 

	 
	 

	Dated:
	 

	 
	Name:

	 
	Title:

EXHIBIT F
DIRECT INSURER CERTIFICATION OF WITHDRAWAL
The undersigned, the [insert position] and a duly authorized officer of [___] (“Direct Insurer”), does hereby certify that, pursuant to Section 2 of the Trust Agreement dated as of [___], 2018, entered into by and among  [___] (“Grantor”), Direct Insurer, Commonwealth Annuity and Life Insurance Company (“Beneficiary”) and [The Bank of New York Mellon] (the “Trustee”) (the “Trust Agreement”) and the Annuity Retrocession Agreement dated as of [___], 2018, between Beneficiary and Commonwealth (the “Retrocession Agreement”), Direct Insurer has withdrawn from the Trust Account (as defined in the Trust Agreement) established by Grantor for the benefit of Beneficiary and Direct Insurer pursuant to the Trust Agreement, Assets with a current fair market value equal to $[_____].  Direct Insurer hereby certifies that the conditions described in Section 9.8(b) of the Retrocession Agreement have been met. 
	
		
	 
	[DIRECT INSURER]

	 
	 

	 
	 

	Dated:
	 

	 
	Name:

	 
	Title:

EXHIBIT G
GRANTOR CERTIFICATION OF WITHDRAWAL
The undersigned, the [insert position] and a duly authorized officer of [___] (the “Grantor”), does hereby certify that, pursuant to Section 2 of the Trust Agreement dated as of [___], 2018, entered into by and among  Grantor, [___] (“Direct Insurer”), Commonwealth Annuity and Life Insurance Company (“Beneficiary”) and [The Bank of New York Mellon] (the “Trustee”) (the “Trust Agreement”) and the Annuity Retrocession Agreement dated as of [___], 2018, between Beneficiary and Commonwealth (the “Retrocession Agreement”), Grantor has withdrawn from the Trust Account (as defined in the Trust Agreement) established by Grantor for the benefit of Beneficiary and Direct Insurer pursuant to the Trust Agreement, Assets with a current fair market value equal to $[_____].  Grantor hereby attaches a copy of the applicable Monthly Reinsurance Settlement Report and hereby certifies that the conditions described in Section 9.6 of the Retrocession Agreement have been met.
	
		
	 
	[GRANTOR]

	 
	 

	 
	 

	Dated:
	 

	 
	Name:

	 
	Title:

EXHIBIT H
INVESTMENT GUIDELINES
Capitalized terms used in these Investment Guidelines that are not defined herein shall have the meanings ascribed to such terms in the Retrocession Agreement.  

The Reinsurer shall be responsible for complying with the terms of the Investment Guidelines outlined below.  These Investment Guidelines shall apply to the management of the Investment Assets.

In addition to these Investment Guidelines, all Investment Assets must qualify as admitted assets for life insurance companies under the insurance laws of the State of Connecticut and the Commonwealth of Massachusetts.

Eligible Investments:  The Reinsurer shall have full authority to buy and sell the Investment Assets as described below unless specifically limited or restricted by these Investment Guidelines or by Applicable Law:
		
	i.
	[REDACTED].

Prohibited Investments:  The Reinsurer may not invest in:
		
	i.
	[REDACTED]. 

In addition, the Reinsurer may not incur indebtedness (through margin or otherwise) in the Funds Withheld Account or the OC Trust Account; provided that, for the avoidance of doubt, this limitation shall not prohibit the Reinsurer from acquiring investments or instruments otherwise permitted pursuant to these Investment Guidelines.
Any asset sector not listed as an Eligible Investment above may nevertheless be approved as an Eligible Investment subject to prior written approval of the Company (such approval to be at the sole discretion of the Company).
Compliance and Exceptions:
These Investment Guidelines shall be applied at the time the Funds Withheld Account or the OC Trust Account are initially funded to ensure compliance.  Additionally, the portfolio of Investment Assets shall be monitored periodically, as set forth below, to ensure compliance with these Investment Guidelines on a maintenance basis.
As soon as practicable, but not more than five (5) Business Days (or such longer reasonable period, if mutually agreeable), following the receipt by the Reinsurer of the Monthly Reinsurance Settlement Report, the Reinsurer shall supply the Company with a compliance report that demonstrates the Reinsurer’s compliance with these Investment Guidelines as of the previous month end.
In the event that any Investment Asset, or the portfolio as a whole, exceeds or otherwise fails to comply with these Investment Guidelines, the Reinsurer shall promptly notify the Company and, unless otherwise directed by the Company, take corrective action to correct such noncompliance or failure promptly but not longer than within ten (10) Business Days after such non-compliance is determined.
OTTI Reporting:
Within ten (10) Business Days following the end of each calendar quarter, the Reinsurer shall supply the Company with its assessment of OC Trust Assets as to impairment, which shall include any assessments prepared by any investment manager appointed by the Reinsurer to manage any OC Trust Assets and relied upon in the Reinsurer’s OTTI assessments.
If the Company, based on its review of such reports, notifies the Reinsurer that any OC Trust Assets would be considered impaired under the Company’s OTTI policy, then the Book Value of such OC Trust Assets shall be marked down to equal the Market Value of such OC Trust Assets for purposes of determining whether the Book Value of the OC Trust Assets is at least equal to the OC Amount.
Investment Limits:
All limits referred to herein are with respect to Book Value. All limits are maintenance limits that must be cured or agreed to by the Company in accordance with Compliance and Exceptions above.
		
	•
	All ratings herein refer to NRSRO Ratings, unless an NAIC Rating is specified

		
	•
	Single issuer exposure limits Structured Product single issuer limits will be based on the equivalent NAIC Rating. (the US federal government and agencies are excluded from these limits):

		
	◦
	[REDACTED]

		
	•
	Duration of assets no less than [REDACTED]

		
	•
	All Investment Assets must carry an NAIC Rating

		
	•
	All Investment Assets must be denominated in U.S. Dollars

		
	•
	[REDACTED]

		
	•
	[REDACTED]

		
	•
	[REDACTED]

		
	•
	Asset allocation limits:

	
		
	Asset Class
	Limits

	U.S. Treasuries, agencies, cash equivalents, etc.
	[REDACTED]

	 
	 

	NAIC Class 1 Corporate Bonds (AAA through A-)
	[REDACTED]

	BBB Corporate Bonds
	[REDACTED]

	Emerging market Corporate Bonds
	[REDACTED]

	Below investment grade Corporate Bonds
	[REDACTED]

	Total Corporate Bonds
	[REDACTED]

	Note: BBB Corporate Bond limit of [REDACTED]Investment Grade Corporate bond limit of [REDACTED] are separate and mutually exclusive of each other.
	 

	 
	 

	Asset Class
	Limits

	Agency MBS
	[REDACTED]

	Non-Agency RMBS
	[REDACTED]

	CMBS
	[REDACTED]

	CLOs
	[REDACTED]

	ABS
	[REDACTED]

	Total Structured Products
	[REDACTED]

	 
	 

	CML
	[REDACTED]

	 
	 

	Municipal Bonds (investment grade)
	[REDACTED]

	 
	 

	Alternative Assets - debt funds only 
	[REDACTED]

	 
	 

	All other assets
	[REDACTED]

	 
	 

	 
	 

	Additional restrictions that apply to all the assets above
	 

	Aggregate amount of Structured Products rated NAIC 3 and ABS/CLOs rated non-investment grade by a NRSRO
	[REDACTED]

	Structured Products rated NAIC 4-6
	[REDACTED]

	Aggregate amount of Structured Products rated NAIC 3 and ABS/CLOs rated non-investment grade by a NRSRO, Alternative Assets (debt focused funds only) and below investment grade Corporate Bonds (which can be BB only)
	[REDACTED]

	Private Placements (excl. 144A registered securities, Reg S, Reg D and CML)
	[REDACTED]

	Corporate bond 144A Reg S and Reg D securities
	[REDACTED]

WARF Limit:
The portfolio WARF of the Investment Assets must be no greater than the WARF Limit. The following scale will be utilized for computing the WARF weighted by the Book Value of each asset. 
	
		
	Asset Class and Rating
	WARF Score

	Corporates, Emerging Markets, Municipal Bonds and Private Placements
	 

	AAA Rated
	[REDACTED]

	AA Rated
	[REDACTED]

	A Rated
	[REDACTED]

	BBB Rated
	[REDACTED]

	BB Rated
	[REDACTED]

	B Rated
	[REDACTED]

	CCC Rated
	[REDACTED]

	D Rated
	[REDACTED]

	Structured Products rated NAIC 1 or 2 (excluding ABS/CLOs rated non-investment grade by a NRSRO)
	[REDACTED]

	Structured Products rated NAIC 3 and ABS/CLOs rated non-investment grade by a NRSRO
	[REDACTED]

	CML
	[REDACTED]

	Alternative Assets
	[REDACTED]

Defined Terms:
Capitalized terms used in these Investment Guidelines that are not defined in the Agreement shall have the following meanings:
“Alternative Assets” means limited partnerships, hedge funds, real estate equity, private equity, and equity-linked investments generally filed on Schedule BA of a U.S. insurance company’s statutory financial statement.
“Asset-Backed Securities” or “ABS” means securitized fixed income securities backed by pools of collateral including loans, receivables, advances, tangible assets, and operating lease assets, and collateralized bond obligations/CLOs; but, excluding such securities backed by CMBS and RMBS.

“CLOs” means collateralized loan obligations.
“Commercial Mortgage Backed Securities” or “CMBS” means securitized fixed income securities backed by pools of collateral consisting of commercial real estate mortgage loans.
“Commercial Mortgage Loan” or “CML” or “Residential Mortgage Loan” or “RML” means direct lending supported by commercial and residential real estate properties, respectively.  
“Corporate Bonds” means public bonds (including U.S. agency and corporate bonds) but not including U.S. Treasuries or Structured Products.
“Derivative Instruments” shall include interest rate swaps, credit default swaps, currency swaps, interest rate caps and floors, equity options, and other derivatives used for hedging, replication, and income generation purposes.
“Municipal Bonds” means taxable and tax-exempt bonds issued by municipals.
“NAIC Rating” means the credit rating designation of 1, 2, 3, 4, 5 or 6 assigned to a security in accordance with the Purpose and Procedures manual of the Securities Valuation Office of the NAIC. All references to NAIC ratings shall be on the NAIC ratings scale as of the Effective Date. Any subsequent changes to the NAIC ratings scale will not affect these limits.
“Private Placements” means bonds or loans that have not been issued through a public offering.
“Residential Mortgage-Backed Securities” or “RMBS” means securitized fixed income securities backed by pools of collateral consisting of residential real estate mortgage loans (including agency and non-agency mortgage- backed securities and home equity).  
“Structured Products” means all loan-backed or securitized asset types defined above including ABS, CMBS, and RMBS.
“U.S. Treasuries” means U.S. federal government debt securities issued by the Department of the Treasury.
“WARF” means weighted average rating factor.
“WARF Limit” means [REDACTED] 

EXHIBIT I
FORM OF GRANTOR SERVICING NOTICE

From:    [•] (“Grantor”)
To:    The Bank of New York Mellon (“Trustee”)
cc:    Commonwealth Annuity and Life Insurance Company (“Beneficiary”)
[___] (“Direct Insurer”)
Date:    [  ]
		
	Re:
	Grantor Servicing Notice

We refer to Section 4(j) of the Trust Agreement. All capitalized terms used herein and not otherwise defined herein shall have the meanings set forth in the Trust Agreement.

We hereby (a) certify that (i) the transfer of the following [Asset or Assets] is required in connection with [the pay-off of the following Commercial Mortgage Loan] / [the sale of the following Commercial Mortgage Loan by the Grantor] / [the restructuring, foreclosure, deed-in-lieu or other liquidation of the following defaulted Commercial Mortgage Loan] and (ii) that the proceeds from the transfer of such [Asset or Assets] will be paid to the Trustee within three (3) Business Days, and (b) give you notice that we are exercising our right withdraw the following [Assets or Assets] from the Trust Account.  
Please deliver the following [Asset or Assets] to or for the account of the Person named below at the address specified below:
The Trustee is instructed to deliver to the Grantor the undated Loan Assignment Documents and original promissory note applicable to Commercial Mortgage Loan No. ____________].
You shall not take any action under this notice until the passage of three (3) Business Days from your receipt hereof.

GRANTOR
By:             
Name:    
Title:    

EXHIBIT J
FORM OF LOAN ASSIGNMENT DOCUMENT CERTIFICATION

From:    [[•] (“Grantor) / [•] (“Direct Insurer”)]
To:    The Bank of New York Mellon (“Trustee”)
cc:    [[•] (“Grantor) / Commonwealth Annuity and Life Insurance Company (“Beneficiary”) / [•] (“Direct Insurer”)]
Date:    [  ]
Re:    Loan Assignment Documentation Certification: Trust Account No. [___________]
We hereby certify that, in connection with the deposit of [Commercial Mortgage Loan] into the Trust Account, the following documents and instruments are being provided to the Trustee: 
i.            [Original allonge executed in favor of the Trustee, attaching the original Note and any prior Note assignment documents
		
	ii.        
	Copies of the Assignment of the [[Mortgage]/[Deed of Trust] and Assignment of Leases and Rents] executed in favor of the Trustee 

iii.       Copies of the UCC-3 assignments of Secretary of State Filings and Fixture Filings, as to the Trustee
iv.            Omnibus Assignment Agreement in favor of the Trustee, executed in favor of the Trustee]
v.    [Original Participation Certificate and a copy of the Participation Agreement]
vi.    Original Document Release Letter

All capitalized terms used herein and not otherwise defined herein shall have the meanings set forth in the Trust Agreement.

[GRANTOR]/[DIRECT INSURER]
By:             
Name:    
Title:

EXHIBIT K
FORM OF DOCUMENT RELEASE LETTER
		
	[Servicer]
	Date:             

		
	Re:
	Servicing Agreement dated as of [______], between [Servicer] for [•], and affiliate organizations, as the Owner.  Trust Account No. [________]

In connection with the administration of the below commercial mortgage loan(s) serviced by you and the servicing file related thereto held by you as the Servicer on behalf of the Owner, we request and authorize the release of the servicing file for the [Loan] described below to the Bank of New York Mellon as Trustee (the “Trustee”) under the Trust Agreement dated as of [___], 2018, entered into by and among  [•] (“Grantor”), [•] (“Direct Insurer”), Commonwealth Annuity and Life Insurance Company (“Beneficiary”) and [The Bank of New York Mellon] (the “Trustee”), to the Beneficiary or to the Direct Insurer, in each case upon request of the Trustee.  Capitalized terms used herein and not otherwise defined shall have the meanings set forth in the Servicing Agreement.

Borrower’s Name:        
Property Name & Address:    

Loan Number:                

Note Amount:            

Mortgage Dated:        

Ship To:  
___________________________________________
___________________________________________
___________________________________________
___________________________________________

Reason for Requesting Documents (check one):
X Asset Loan to be: Sold, Transferred or Otherwise Liquidated - Date:    

If all or part of the servicing file was previously released to us, please release to us previous correspondence related thereto on file with you, as well as any additional documents in your possession relating to the specified [Loan].

[GRANTOR]

By:        ____________________            

Name/Title:    ____________________

The undersigned Servicer hereby acknowledges its agreement to deliver the Servicing File to .

[Servicer]
By:        ____________________
EXHIBIT 3
ELIGIBLE TRUST ACCOUNT ASSETS INVESTMENT GUIDELINES
The Reinsurer shall have full authority to buy and sell investments for the Trust Account unless specifically limited or restricted by these investment guidelines or by the insurance laws and regulations of the State of Connecticut or the Commonwealth of Massachusetts (as in effect from time to time) (for purposes of this Exhibit 3, “Insurance Laws”).  The foregoing summary is intended to serve as a guide and any and all investments must (i) comply with the more restrictive of such Insurance Laws, including, but not limited to, Conn. Gen. Statute Section 38a-102c and Massachusetts Ins. Code Section 175:63 and (ii) be considered “admitted assets” under the Insurance Laws.  For purposes of applying these guidelines, the assets held in the Trust Account will be considered all of the assets of a life insurance company writing the Reinsured Contracts.
In addition, the Reinsurer may not incur indebtedness (through margin or otherwise) in the Trust Account; provided that, for the avoidance of doubt, this limitation shall not prohibit the Reinsurer from acquiring investments or instruments otherwise permitted pursuant to these investment guidelines.
Investment Limits
All limits referred to herein are with respect to statutory book value.  

	
			
	Asset Class Limitations
	 
	Limit

	US obligations
	 
	 [REDACTED]

	US state/municipal obligations
	 
	 [REDACTED]

	US agency obligations
	 
	

[REDACTED]

	Canadian municipal and agency obligations
	 
	

[REDACTED]

	NAIC 1-2 corporate bonds
	 
	 [REDACTED]

	Total financial companies/banks obligations
	 
	 [REDACTED]

	NAIC 1-2 structured securities
	 
	 [REDACTED]

	Common stock/futures/LPs
	 
	 [REDACTED]

	Investments in affiliates
	 
	 [REDACTED]

	Emerging markets
	 
	 [REDACTED]

	Qualified mortgage loans
	 
	 [REDACTED]

	Cash & repo
	 
	 [REDACTED]

	Obligations to all foreign countries rated lower than AA
	 
	 [REDACTED]

	Aggregate foreign obligations and investments (regardless of rating)
	 
	 [REDACTED]

	Tangible investments, non-income producing real estate & portion of loan secured by unqualified mortgage loans
	 
	 [REDACTED]

	Securities registered under Securities Act of 1933 not rated NAIC 1-2
	 
	 [REDACTED]

	
			
	Limitations on Obligations With Ratings from the SVO of the NAIC
	 
	Limit

	NAIC 3-6
	 
	 [REDACTED]

	NAIC 4-6
	 
	 [REDACTED]

	NAIC 5-6
	 
	 [REDACTED]

	NAIC 6
	 
	 [REDACTED]

	
			
	Concentration Limits in Single Obligor
	 
	Limit

	Issued or guaranteed by any agency, state, development bank (excl. general obligations of any state)
	 
	 [REDACTED]

	NAIC 1-2 (maturity greater than 1yr)
	 
	 [REDACTED]

	NAIC 3-6
	 
	 [REDACTED]

	NAIC 4-6
	 
	 [REDACTED]

	Securities registered under Securities Act of 1933 not rated NAIC 1-2
	 
	 [REDACTED]

	Obligations to each foreign country rated AA or higher
	 
	 [REDACTED]

	Obligations to each foreign country rated lower than AA
	 
	 [REDACTED]

	Common stock, LP interest or other equity interests (incl. preferred stock) in single institution
	 
	 [REDACTED]

	Real Estate investment or other tangible investment
	 
	 [REDACTED]

EXHIBIT 3
ELIGIBLE TRUST ACCOUNT ASSETS INVESTMENT GUIDELINES
The Reinsurer shall have full authority to buy and sell investments for the Trust Account unless specifically limited or restricted by these investment guidelines or by the insurance laws and regulations of the State of Connecticut or the Commonwealth of Massachusetts (as in effect from time to time) (for purposes of this Exhibit 3, “Insurance Laws”).  The foregoing summary is intended to serve as a guide and any and all investments must (i) comply with the more restrictive of such Insurance Laws, including, but not limited to, Conn. Gen. Statute Section 38a-102c and Massachusetts Ins. Code Section 175:63 and (ii) be considered “admitted assets” under the Insurance Laws.  For purposes of applying these guidelines, the assets held in the Trust Account will be considered all of the assets of a life insurance company writing the Reinsured Contracts.
In addition, the Reinsurer may not incur indebtedness (through margin or otherwise) in the Trust Account; provided that, for the avoidance of doubt, this limitation shall not prohibit the Reinsurer from acquiring investments or instruments otherwise permitted pursuant to these investment guidelines.
Investment Limits
All limits referred to herein are with respect to statutory book value.  
	
			
	Asset Class Limitations
	 
	Limit

	US obligations
	 
	 [REDACTED]

	US state/municipal obligations
	 
	 [REDACTED]

	US agency obligations
	 
	 [REDACTED]

	Canadian municipal and agency obligations
	 
	 
[REDACTED]

	NAIC 1-2 corporate bonds
	 
	 [REDACTED]

	Total financial companies/banks obligations
	 
	 [REDACTED]

	NAIC 1-2 structured securities
	 
	 [REDACTED]

	Common stock/futures/LPs
	 
	 [REDACTED]

	Investments in affiliates
	 
	 [REDACTED]

	Emerging markets
	 
	 [REDACTED]

	Qualified mortgage loans
	 
	 [REDACTED]

	Cash & repo
	 
	 [REDACTED]

	Obligations to all foreign countries rated lower than AA
	 
	 [REDACTED]

	Aggregate foreign obligations and investments (regardless of rating)
	 
	 [REDACTED]

	Tangible investments, non-income producing real estate & portion of loan secured by unqualified mortgage loans
	 
	 [REDACTED]

	Securities registered under Securities Act of 1933 not rated NAIC 1-2
	 
	 [REDACTED]

	
			
	Limitations on Obligations With Ratings from the SVO of the NAIC
	 
	Limit

	NAIC 3-6
	 
	 [REDACTED]

	NAIC 4-6
	 
	 [REDACTED]

	NAIC 5-6
	 
	 [REDACTED]

	NAIC 6
	 
	 [REDACTED]

	
			
	Concentration Limits in Single Obligor
	 
	Limit

	Issued or guaranteed by any agency, state, development bank (excl. general obligations of any state)
	 
	 [REDACTED]

	NAIC 1-2 (maturity greater than 1yr)
	 
	 [REDACTED]

	NAIC 3-6
	 
	 [REDACTED]

	NAIC 4-6
	 
	 [REDACTED]

	Securities registered under Securities Act of 1933 not rated NAIC 1-2
	 
	 [REDACTED]

	Obligations to each foreign country rated AA or higher
	 
	 [REDACTED]

	Obligations to each foreign country rated lower than AA
	 
	 [REDACTED]

	Common stock, LP interest or other equity interests (incl. preferred stock) in single institution
	 
	 [REDACTED]

	Real Estate investment or other tangible investment
	 
	 [REDACTED]

ANNEX A-1
ASSETS IN CONNECTION WITH ESTIMATED INITIAL REINSURANCE PREMIUM PART A
[see attached]

	
														
	CUSIP   
	Position Description
	Legal Entity
	Portfolio
	

UniqueID
	Face Val USD   
	Par/Shares USD
	Book Value (NAIC   Statement Value) USD
	Market Value 
USD
	WAL
	

Sector
	Subsector
	Effective Rating
	Effective Rating2

	46640JAT4
	JPMCC_13-C13    XA
	Hartford Life Insurance Company
	CRC
	CRC46640JAT4
	135,350,000
	126,489,168
	1,461,709
	1,461,709
	4.33
	 CMBS 
	 CMBS IO 
	 Aaa 
	 AAA 

	350910AQ8
	FTST_06-4TS      X 144A
	Hartford Life Insurance Company
	LC2
	LC2350910AQ8
	302,875,805
	302,361,069
	2,538,208
	2,677,407
	3.56
	 CMBS 
	 CMBS IO 
	 Aa1 
	 AA  

	17325CAL9
	CGCMT_16-SMPL    XCP 144A
	Hartford Life Insurance Company
	CRC
	CRC17325CAL9
	44,644,000
	44,644,000
	1,434,992
	1,434,992
	1.69
	 CMBS 
	 CMBS IO 
	 AAA 
	 AAA 

	36192LAC9
	GSMS_12-SHOP    XA 144A
	Hartford Life Insurance Company
	CRC
	CRC36192LAC9
	62,848,407
	62,848,407
	1,780,872
	1,780,872
	2.18
	 CMBS 
	 CMBS IO 
	 Aaa 
	 AAA 

	12630DAZ7
	COMM_14-CR14    XA
	Hartford Life Insurance Company
	CRC
	CRC12630DAZ7
	74,256,000
	71,957,728
	2,414,110
	2,414,110
	4.65
	 CMBS 
	 CMBS IO 
	 Aaa 
	 AAA 

	92938JAH5
	WFRBS_13-UBS1     XA
	Hartford Life Insurance Company
	CRC
	CRC92938JAH5
	64,487,736
	62,701,966
	2,434,968
	2,434,968
	4.17
	 CMBS 
	 CMBS IO 
	 Aaa 
	 AAA 

	96221QAH6
	WFRBS_13-C18    XA
	Hartford Life Insurance Company
	CRC
	CRC96221QAH6
	93,619,353
	90,549,287
	3,537,308
	3,537,308
	5.08
	 CMBS 
	 CMBS IO 
	 Aaa 
	 AAA 

	3137BGK32
	FHMS_K043       X1
	Hartford Life Insurance Company
	LC2
	LC23137BGK32
	42,144,358
	41,940,155
	1,554,697
	1,539,791
	7.27
	 CMBS 
	 CMBS Agency 
	 Agency 
	 Govt 

	17321RAF3
	CGCMT_13-GC17     XA
	Hartford Life Insurance Company
	CRC
	CRC17321RAF3
	51,900,000
	49,842,557
	2,590,517
	2,590,517
	4.66
	 CMBS 
	 CMBS IO 
	 Aaa 
	 AAA 

	36248GAF7
	GSMS_13-GC16    XA
	Hartford Life Insurance Company
	CRC
	CRC36248GAF7
	29,800,000
	28,100,583
	1,488,038
	1,488,038
	4.79
	 CMBS 
	 CMBS IO 
	 Aaa 
	 AAA 

	3137APPA2
	FHMS_K018       X1
	Hartford Life Insurance Company
	CRC
	CRC3137APPA2
	71,463,000
	66,172,233
	3,698,234
	3,698,234
	4.33
	 CMBS 
	 CMBS Agency 
	 Agency 
	 Govt 

	92938GAG3
	WFRBS_13-C17    XA
	Hartford Life Insurance Company
	CRC
	CRC92938GAG3
	35,148,179
	33,682,387
	1,917,875
	1,917,875
	4.96
	 CMBS 
	 CMBS IO 
	 Aaa 
	 AAA 

	12635FAV6
	CSAIL_15-C3     XA
	Hartford Life Insurance Company
	CRC
	CRC12635FAV6
	59,640,000
	59,039,697
	2,881,432
	2,881,432
	6.92
	 CMBS 
	 CMBS IO 
	 Aa1 
	 AA 

	21870KAE8
	CORE_15-WEST    XB 144A
	Hartford Life Insurance Company
	LC2
	LC221870KAE8
	21,614,000
	21,614,000
	1,094,273
	1,077,026
	7.61
	 CMBS 
	 CMBS IO 
	 A- 
	 A 

	61763BAV6
	MSBAM_13-C13    XA
	Hartford Life Insurance Company
	CRC
	CRC61763BAV6
	33,122,949
	31,642,298
	1,719,474
	1,719,474
	5.59
	 CMBS 
	 CMBS IO 
	 Aaa 
	 AAA 

	17324DBA1
	CGCMT_15-P1     XA
	Hartford Life Insurance Company
	CRC
	CRC17324DBA1
	81,994,000
	81,205,546
	4,107,295
	4,107,295
	7.50
	 CMBS 
	 CMBS IO 
	 Aa1 
	 AA 

	61765LAV2
	MSBAM_15-C24    XA
	Hartford Life Insurance Company
	CRC
	CRC61765LAV2
	44,600,000
	44,147,416
	2,244,410
	2,244,410
	7.50
	 CMBS 
	 CMBS IO 
	 Aaa 
	 AAA 

	12592XBE5
	COMM_15-CR22    XA
	Hartford Life Insurance Company
	LC2
	LC212592XBE5
	27,655,220
	27,311,866
	1,528,434
	1,493,904
	6.11
	 CMBS 
	 CMBS IO 
	 AAA 
	 AAA 

	17325DAK9
	CGCMT_16-P5     XB
	Hartford Life Insurance Company
	CRC
	CRC17325DAK9
	32,084,000
	32,084,000
	1,638,209
	1,638,209
	9.50
	 CMBS 
	 CMBS IO 
	 AA- 
	 AA 

	126281BB9
	CSAIL_15-C1     XA
	Hartford Life Insurance Company
	LC2
	LC2126281BB9
	30,709,000
	30,369,736
	1,693,552
	1,679,052
	6.84
	 CMBS 
	 CMBS IO 
	 Aa1 
	 AA  

	12593JBG0
	COMM_15-CR24    XA
	Hartford Life Insurance Company
	CRC
	CRC12593JBG0
	78,241,000
	77,125,029
	4,214,189
	4,214,189
	7.54
	 CMBS 
	 CMBS IO 
	 Aa1 
	 AA 

	61691EBB0
	MSC_16-UB12     XA
	Hartford Life Insurance Company
	CRC
	CRC61691EBB0
	54,800,000
	54,800,000
	2,981,120
	2,981,120
	8.30
	 CMBS 
	 CMBS IO 
	 Aaa 
	 AAA 

	61764XBK0
	MSBAM_15-C21    XA
	Hartford Life Insurance Company
	LC2
	LC261764XBK0
	58,850,000
	58,006,328
	3,407,154
	3,348,009
	6.99
	 CMBS 
	 CMBS IO 
	 Aa1 
	 AA  

	94989DAZ2
	WFCM_15-C27     XA
	Hartford Life Insurance Company
	LC2
	LC294989DAZ2
	48,631,500
	48,006,336
	2,872,296
	2,796,081
	7.04
	 CMBS 
	 CMBS IO 
	 Aa2 
	 AA  

	92939FBA6
	WFRBS_14-C21    XA
	Hartford Life Insurance Company
	LC2
	LC292939FBA6
	13,925,515
	13,577,535
	803,370
	809,588
	6.09
	 CMBS 
	 CMBS IO 
	 Aaa 
	 AAA 

	95000MBT7
	WFCM_16_C36     XB
	Hartford Life Insurance Company
	CRC
	CRC95000MBT7
	30,000,000
	30,000,000
	1,677,000
	1,677,000
	9.48
	 CMBS 
	 CMBS IO 
	 AA- 
	 AA 

	78413MAG3
	SFAVE_15-5AVE     XA 144A
	Hartford Life Insurance Company
	CRC
	CRC78413MAG3
	58,960,000
	58,960,000
	3,283,954
	3,283,954
	17.51
	 CMBS 
	 CMBS IO 
	 AAA 
	 AAA 

	20048EAZ4
	COMM_13-LC6     XA
	Hartford Life Insurance Company
	CRC
	CRC20048EAZ4
	67,257,000
	62,485,933
	3,446,912
	3,446,912
	4.04
	 CMBS 
	 CMBS IO 
	 Aaa 
	 AAA 

	
														
	46644ABH4
	JPMBB_15-C27    XA
	Hartford Life Insurance Company
	LC2
	LC246644ABH4
	51,960,912
	51,064,025
	3,595,088
	3,537,971
	6.17
	 CMBS 
	 CMBS IO 
	 Aa1 
	 AA  

	38379KPC6
	GNR_15-68       IO
	Hartford Life Insurance Company
	LC2
	LC238379KPC6
	14,124,000
	13,121,960
	864,086
	817,052
	4.94
	 CMBS 
	 CMBS Agency 
	 Govt 
	 Govt 

	36197XAM6
	GSMS_13-GC12    XA
	Hartford Life Insurance Company
	CRC
	CRC36197XAM6
	43,572,817
	40,666,907
	2,626,757
	2,626,757
	4.79
	 CMBS 
	 CMBS IO 
	 AAA 
	 AAA 

	3137BN6H2
	FHMS_K053       X1
	Hartford Life Insurance Company
	LC2
	LC23137BN6H2
	19,260,000
	19,209,439
	1,225,874
	1,234,629
	8.21
	 CMBS 
	 CMBS Agency 
	 Agency 
	 Govt 

	92890NAA7
	WFRBS_12-C10    XA 144A
	Hartford Life Insurance Company
	CRC
	CRC92890NAA7
	95,283,134
	88,152,150
	6,194,981
	6,194,981
	4.76
	 CMBS 
	 CMBS IO 
	 Aaa 
	 AAA 

	200474BD5
	COMM_15-LC19    XA
	Hartford Life Insurance Company
	LC2
	LC2200474BD5
	34,715,080
	34,261,871
	2,554,521
	2,522,359
	7.04
	 CMBS 
	 CMBS IO 
	 AAA 
	 AAA 

	94989EAH0
	WFCM_15-LC20    XA
	Hartford Life Insurance Company
	LC2
	LC294989EAH0
	49,684,506
	49,076,874
	3,839,564
	3,705,746
	6.54
	 CMBS 
	 CMBS IO 
	 Aa2 
	 AA  

	38379KQF8
	GNR_15-70       IO
	Hartford Life Insurance Company
	LC2
	LC238379KQF8
	19,099,500
	17,829,671
	1,259,714
	1,217,250
	4.39
	 CMBS 
	 CMBS Agency 
	 Govt 
	 Govt 

	94989CBA8
	WFCM_15-C26     XA
	Hartford Life Insurance Company
	LC2
	LC294989CBA8
	25,478,261
	24,367,753
	1,887,640
	1,860,064
	6.89
	 CMBS 
	 CMBS IO 
	 AAA 
	 AAA 

	61764RBG2
	MSBAM_15-C20    XA
	Hartford Life Insurance Company
	LC2
	LC261764RBG2
	26,215,000
	25,755,856
	2,024,189
	1,944,593
	6.48
	 CMBS 
	 CMBS IO 
	 Aa1 
	 AA  

	17323CAG2
	CGCMT_15-GC27     XA
	Hartford Life Insurance Company
	LC2
	LC217323CAG2
	19,658,040
	19,377,235
	1,673,160
	1,614,608
	6.91
	 CMBS 
	 CMBS IO 
	 Aa1 
	 AA  

	3137BPVP1
	FHMS_K152       X1
	Hartford Life Insurance Company
	LC2
	LC23137BPVP1
	14,712,500
	14,669,065
	1,290,222
	1,314,847
	11.97
	 CMBS 
	 CMBS Agency 
	 Agency 
	 Govt 

	46590RAG4
	JPMCC_16-JP3    XA
	Hartford Life Insurance Company
	CRC
	CRC46590RAG4
	18,460,000
	18,431,716
	1,899,112
	1,899,112
	8.30
	 CMBS 
	 CMBS IO 
	 Aa1 
	 AA 

	23312LAW8
	DBJPM_16-C1     XA
	Hartford Life Insurance Company
	LC2
	LC223312LAW8
	14,907,240
	14,858,021
	1,481,596
	1,519,099
	8.03
	 CMBS 
	 CMBS IO 
	 AAA 
	 AAA 

	3137BKRL6
	FHMS_K047       X3
	Hartford Life Insurance Company
	CRC
	CRC3137BKRL6
	38,658,538
	38,658,538
	3,528,674
	3,528,674
	8.16
	 CMBS 
	 CMBS Agency 
	 Agency 
	 Govt 

	17325DAJ2
	CGCMT_16-P5     XA
	Hartford Life Insurance Company
	CRC
	CRC17325DAJ2
	37,000,000
	36,951,512
	3,795,622
	3,795,622
	8.11
	 CMBS 
	 CMBS IO 
	 Aa1 
	 AA 

	3137BGK40
	FHMS_K043       X3
	Hartford Life Insurance Company
	LC2
	LC23137BGK40
	15,033,500
	15,033,500
	1,578,183
	1,458,670
	7.81
	 CMBS 
	 CMBS Agency 
	 Agency 
	 Govt 

	95000GBB9
	WFCM_16-BNK1    XA
	Hartford Life Insurance Company
	CRC
	CRC95000GBB9
	14,620,000
	14,577,066
	1,857,264
	1,857,264
	8.51
	 CMBS 
	 CMBS IO 
	 AAA 
	 AAA 

	29429EAF8
	CGCMT_16-P4     XA
	Hartford Life Insurance Company
	LC2
	LC229429EAF8
	6,634,000
	6,619,444
	912,768
	880,816
	8.06
	 CMBS 
	 CMBS IO 
	 Aa1 
	 AA  

	95000FAW6
	WFCM_16-C35     XA
	Hartford Life Insurance Company
	LC2
	LC295000FAW6
	7,356,250
	7,327,848
	1,009,770
	983,690
	8.12
	 CMBS 
	 CMBS IO 
	 AAA 
	 AAA 

	60242NDH1
	MILWAUKEE REDEV TXBL POB SER C03
	Hartford Life Insurance Company
	LC2
	LC260242NDH1
	3,902,825
	3,902,825
	1,415,589
	1,895,680
	16.25
	 Corporates 
	 Tax Muni 
	 AA- 
	 AA  

	60242NDG3
	MILWAUKEE REDEV TXBL POB SER C03
	Hartford Life Insurance Company
	LC2
	LC260242NDG3
	3,201,975
	3,201,975
	1,238,009
	1,636,946
	15.25
	 Corporates 
	 Tax Muni 
	 AA- 
	 AA  

	912803CK7
	TREASURY STRIP (PRIN)
	Hartford Life Insurance Company
	LC2
	LC2912803CK7
	51,040,000
	51,040,000
	29,787,183
	35,482,600
	14.13
	 TSY 
	 TSY 
	 Govt 
	 Govt 

	35906AAZ1
	FRONTIER COMMUNICATIONS CORP
	Hartford Life Insurance Company
	CRC
	CRC35906AAZ1
	1,307,000
	1,307,000
	1,349,478
	1,349,478
	8.45
	 BIG Corporates 
	 HY Industrials 
	 BB- 
	 BIG 

	88167AAE1
	TEVA PHARMACEUTICAL FINANCE NETHER
	Hartford Life Insurance Company
	CRC
	CRC88167AAE1
	5,145,000
	5,145,000
	4,743,314
	4,743,314
	9.75
	 Corporates 
	 Industrials 
	 BBB 
	 BBB 

	88167AAE1
	TEVA PHARMACEUTICAL FINANCE NETHER
	Hartford Life Insurance Company
	LC2
	LC288167AAE1
	4,547,500
	4,547,500
	4,154,145
	4,192,463
	9.75
	 Corporates 
	 Industrials 
	 BBB 
	 BBB 

	88732JBD9
	TIME WARNER CABLE INC
	Hartford Life Insurance Company
	LC2
	LC288732JBD9
	2,420,875
	2,420,875
	2,366,965
	2,192,480
	25.71
	 Corporates 
	 Industrial 
	 BBB- 
	 BBB 

	00432CBZ3
	ACCSS_04-2       B
	Hartford Life Insurance Company
	CRC
	CRC00432CBZ3
	12,500,000
	9,718,396
	7,824,727
	7,824,727
	7.09
	 ABS 
	 Student Loans 
	 Baa2 
	 BBB 

	B02960746
	HSBC BANK PLC
	Hartford Life Insurance Company
	LC2
	LC2B02960746
	6,741,000
	6,741,000
	4,819,815
	4,819,815
	32.50
	 Corporates 
	 Financial 
	 A3 
	 A 

	B06983645
	HSBC BANK PLC
	Hartford Life Insurance Company
	LC2
	LC2B06983645
	7,639,800
	7,639,800
	5,416,618
	5,409,131
	32.50
	 Corporates 
	 Financial 
	 BBB+ 
	 BBB 

	BHM1K78X8
	LINCOLN ELECTRIC HOLDINGS INC Prvt
	Hartford Life Insurance Company
	LC2
	LC2BHM1K78X8
	6,000,000
	6,000,000
	6,000,000
	5,440,440
	16.81
	 Corporates 
	 Industrial 
	 A3 
	 A 

	
														
	73474TAP5
	PORT MORROW ORE TRANSMISSION F
	Hartford Life Insurance Company
	LC2
	LC273474TAP5
	2,573,350
	2,573,350
	2,578,228
	2,305,670
	19.17
	 Corporates 
	 Tax Muni 
	 AA 
	 AA  

	912810RS9
	TREASURY BOND (2OLD)
	Hartford Life Insurance Company
	LC2
	LC2912810RS9
	43,500
	43,500
	46,850
	38,657
	29.38
	 TSY 
	 Govt 
	 Govt 
	 Govt 

	9128282A7
	TREASURY NOTE (OLD)
	Hartford Life Insurance Company
	LC2
	LC29128282A7
	4,187,600
	4,187,600
	4,098,679
	3,851,449
	9.63
	 TSY 
	 Govt 
	 Govt 
	 Govt 

	BHM1JVPW0
	ETSA UTILITIES FINANCE PTY LTD Prvt
	Hartford Life Insurance Company
	LC2
	LC2BHM1JVPW0
	6,000,000
	6,000,000
	6,000,000
	5,574,240
	11.61
	 Corporates 
	 Utilities 
	 A3 
	 A 

	25470XAY1
	DISH DBS CORP
	Hartford Life Insurance Company
	CRC
	CRC25470XAY1
	1,224,000
	1,224,000
	1,380,060
	1,380,060
	9.50
	 BIG Corporates 
	 HY Industrials 
	 Ba3 
	 BIG 

	362333AH9
	VERIZON FLORIDA LLC
	Hartford Life Insurance Company
	LC2
	LC2362333AH9
	2,380,000
	2,380,000
	2,085,836
	2,066,599
	11.09
	 BIG Corporates 
	 HY Industrial 
	 BB+ 
	 BIG 

	349553AL1
	FORTIS INC        144A
	Hartford Life Insurance Company
	CRC
	CRC349553AL1
	16,800,000
	16,800,000
	15,712,654
	15,712,654
	9.76
	 Corporates 
	 Utilities 
	 Baa3 
	 BBB 

	74913EAJ9
	QWEST CAPITAL FUNDING
	Hartford Life Insurance Company
	CRC
	CRC74913EAJ9
	3,171,000
	3,171,000
	2,885,610
	2,885,610
	14.13
	 BIG Corporates 
	 HY Industrials 
	 BB 
	 BIG 

	44421LAG7
	HY_16-10HY       C 144A
	Hartford Life Insurance Company
	LC2
	LC244421LAG7
	1,201,075
	1,201,075
	1,206,956
	1,130,127
	9.61
	 CMBS 
	 CMBS 
	 A3 
	 A 

	026874DC8
	AMERICAN INTERNATIONAL GROUP INC
	Hartford Life Insurance Company
	LC2
	LC2026874DC8
	3,905,500
	3,905,500
	3,572,611
	3,668,569
	18.04
	 Corporates 
	 Financial 
	 BBB+ 
	 BBB 

	29364GAJ2
	ENTERGY CORPORATION
	Hartford Life Insurance Company
	CRC
	CRC29364GAJ2
	7,600,000
	7,600,000
	7,109,359
	7,109,359
	9.67
	 Corporates 
	 Utilities 
	 Baa3 
	 BBB 

	95000GBA1
	WFCM_16-BNK1    AS
	Hartford Life Insurance Company
	CRC
	CRC95000GBA1
	1,600,000
	1,600,000
	1,528,707
	1,528,707
	9.55
	 CMBS 
	 CMBS 
	 AAA 
	 AAA 

	9128282D1
	TREASURY NOTE
	Hartford Life Insurance Company
	LC2
	LC29128282D1
	98,600
	98,600
	98,098
	93,420
	6.67
	 TSY 
	 TSY 
	 Govt 
	 Govt 

	912828U24
	TREASURY NOTE (OTR)
	Hartford Life Insurance Company
	CRC
	CRC912828U24
	24,220,000
	24,220,000
	23,303,225
	23,303,225
	9.88
	 TSY 
	 TSY 
	 Govt 
	 govt 

	12514MBE4
	CD_16-CD1       AM
	Hartford Life Insurance Company
	LC2
	LC212514MBE4
	1,872,500
	1,872,500
	1,926,934
	1,795,759
	9.61
	 CMBS 
	 CMBS 
	 Aa3 
	 AA  

	38379KGA0
	GNR_15-32       AG
	Hartford Life Insurance Company
	LC2
	LC238379KGA0
	1,016,500
	887,823
	876,652
	859,121
	4.08
	 CMBS 
	 CMBS Agency 
	 Govt 
	 Govt 

	92553PBB7
	VIACOM INC
	Hartford Life Insurance Company
	CRC
	CRC92553PBB7
	24,316,000
	24,316,000
	22,472,823
	22,472,823
	9.76
	 Corporates 
	 Industrials 
	 BBB- 
	 BBB 

	665501AK8
	NORTHERN NATURAL GAS CO    144A
	Hartford Life Insurance Company
	LC2
	LC2665501AK8
	9,097,675
	9,097,675
	7,961,983
	8,512,886
	25.71
	 Corporates 
	 Industrial 
	 A 
	 A 

	44421LAA0
	HY_16-10HY       A 144A
	Hartford Life Insurance Company
	LC2
	LC244421LAA0
	1,966,125
	1,966,125
	2,023,712
	1,894,275
	9.61
	 CMBS 
	 CMBS 
	 Aaa 
	 AAA 

	912828T91
	TREASURY NOTE (2OLD)
	Hartford Life Insurance Company
	CRC
	CRC912828T91
	6,560,000
	6,560,000
	6,311,179
	6,311,179
	6.83
	 TSY 
	 TSY 
	 Govt 
	 govt 

	91086QBB3
	MEXICO (UNITED MEXICAN STATES) MTN
	Hartford Life Insurance Company
	CRC
	CRC91086QBB3
	1,500,000
	1,500,000
	1,363,950
	1,363,950
	27.19
	 EM 
	 EM 
	 BBB+ 
	 BBB 

	649322AC8
	NEW YORK  PRESBYTERIAN HOS
	Hartford Life Insurance Company
	LC2
	LC2649322AC8
	1,730,725
	1,730,725
	1,730,674
	1,655,710
	19.59
	 Corporates 
	 Tax Muni 
	 Aa3 
	 AA  

	23312VAH9
	DBJPM_16-C3     AM
	Hartford Life Insurance Company
	LC2
	LC223312VAH9
	989,750
	989,750
	1,018,368
	956,593
	9.54
	 CMBS 
	 CMBS 
	 Aa3 
	 AA  

	00507UAT8
	ACTAVIS FUNDING SCS
	Hartford Life Insurance Company
	LC2
	LC200507UAT8
	6,794,500
	6,794,500
	7,130,123
	6,725,142
	18.21
	 Corporates 
	 Industrial 
	 BBB- 
	 BBB 

	61166WAQ4
	MONSANTO COMPANY
	Hartford Life Insurance Company
	LC2
	LC261166WAQ4
	4,269,300
	4,269,300
	4,230,665
	3,845,350
	47.54
	 Corporates 
	 Industrial 
	 A3 
	 A 

	82481LAC3
	SHIRE ACQUISITIONS INVESTMENTS IRE
	Hartford Life Insurance Company
	CRC
	CRC82481LAC3
	15,405,000
	15,405,000
	14,641,636
	14,641,636
	6.73
	 Corporates 
	 Industrials 
	 Baa3 
	 BBB 

	BHM19ESL0
	SCHREIBER FOODS INC        Prvt
	Hartford Life Insurance Company
	LC2
	LC2BHM19ESL0
	10,000,000
	10,000,000
	10,000,000
	9,900,300
	13.25
	 Corporates 
	 Industrial 
	 Baa2 
	 BBB 

	912828R69
	TREASURY NOTE
	Hartford Life Insurance Company
	LC2
	LC2912828R69
	58,000
	58,000
	58,586
	56,031
	6.42
	 TSY 
	 TSY 
	 Govt 
	 Govt 

	38379RFE8
	GNR_16-14       HA
	Hartford Life Insurance Company
	LC2
	LC238379RFE8
	909,500
	885,936
	884,026
	867,263
	4.89
	 CMBS 
	 CMBS Agency 
	 Govt 
	 Govt 

	87612BAP7
	TARGA RESOURCES PARTNERS LP/TARGA
	Hartford Life Insurance Company
	CRC
	CRC87612BAP7
	1,734,000
	1,734,000
	1,658,138
	1,658,138
	6.88
	 BIG Corporates 
	 HY Industrials 
	 Ba3 
	 BIG 

	78413MAL2
	SFAVE_15-5AVE      B 144A
	Hartford Life Insurance Company
	LC2
	LC278413MAL2
	2,193,500
	2,193,500
	2,081,305
	2,097,352
	18.01
	 CMBS 
	 CMBS 
	 AA- 
	 AA  

	
														
	718172AW9
	PHILIP MORRIS INTERNATIONAL INC
	Hartford Life Insurance Company
	LC2
	LC2718172AW9
	6,821,250
	6,821,250
	6,256,813
	6,600,828
	26.18
	 Corporates 
	 Industrial 
	 A 
	 A 

	46361TAL6
	ICOT_13-IRV      D 144A
	Hartford Life Insurance Company
	CRC
	CRC46361TAL6
	3,059,000
	3,059,000
	2,832,414
	2,832,414
	6.38
	 CMBS 
	 CMBS 
	 BBB+ 
	 BBB 

	38379U2R6
	GNR_16-178      EA
	Hartford Life Insurance Company
	CRC
	CRC38379U2R6
	2,000,000
	2,000,000
	1,962,656
	1,962,656
	4.96
	 CMBS 
	 CMBS Agency 
	 Govt 
	 govt 

	912828T67
	TREASURY NOTE (2OLD)
	Hartford Life Insurance Company
	CRC
	CRC912828T67
	18,260,000
	18,260,000
	17,706,503
	17,706,503
	4.83
	 TSY 
	 TSY 
	 Govt 
	 govt 

	92769XAL9
	VIRGIN MEDIA SECURED FINANCE PLC 144A
	Hartford Life Insurance Company
	CRC
	CRC92769XAL9
	1,347,000
	1,347,000
	1,330,163
	1,330,163
	9.04
	 BIG Corporates 
	 HY Industrials 
	 BB- 
	 BIG 

	12624PAS4
	COMM_12-CR3      D 144A
	Hartford Life Insurance Company
	CRC
	CRC12624PAS4
	4,800,000
	4,800,000
	4,810,901
	4,810,901
	5.79
	 CMBS 
	 CMBS 
	 Baa1 
	 BBB 

	36164Q6M5
	GE CAPITAL INTERNATIONAL FUNDING C
	Hartford Life Insurance Company
	CRC
	CRC36164Q6M5
	4,816,000
	4,816,000
	4,895,830
	4,895,830
	8.88
	 Corporates 
	 Financials 
	 AA- 
	 AA 

	68383NAY9
	OPMAC_05-2      M3
	Hartford Life Insurance Company
	CRC
	CRC68383NAY9
	1,700,000
	1,700,000
	1,566,593
	1,566,593
	4.87
	 ABS 
	 Home Equity 
	 Baa2 
	 BBB 

	61764XBP9
	MSBAM_15-C21     C
	Hartford Life Insurance Company
	LC2
	LC261764XBP9
	1,899,250
	1,899,250
	1,930,063
	1,829,120
	8.13
	 CMBS 
	 CMBS 
	 A- 
	 A 

	95000FAV8
	WFCM_16-C35     AS
	Hartford Life Insurance Company
	LC2
	LC295000FAV8
	1,230,500
	1,230,500
	1,266,018
	1,205,368
	9.48
	 CMBS 
	 CMBS 
	 Aa2 
	 AA  

	131347CK0
	CALPINE CORP      144A
	Hartford Life Insurance Company
	CRC
	CRC131347CK0
	1,281,000
	1,281,000
	1,261,785
	1,261,785
	9.42
	 BIG Corporates 
	 HY Utilities 
	 BB 
	 BIG 

	17325CAC9
	CGCMT_16-SMPL      B 144A
	Hartford Life Insurance Company
	CRC
	CRC17325CAC9
	7,200,000
	7,200,000
	7,029,965
	7,029,965
	4.69
	 CMBS 
	 CMBS 
	 AA- 
	 AA 

	83162CXP3
	SBAP_16-20B      1
	Hartford Life Insurance Company
	LC2
	LC283162CXP3
	3,531,000
	3,457,308
	3,457,308
	3,367,792
	6.21
	 Agency 
	 SBA 
	 Govt 
	 Govt 

	94989CBD2
	WFCM_15-C26      C
	Hartford Life Insurance Company
	LC2
	LC294989CBD2
	2,678,210
	2,678,210
	2,678,081
	2,526,939
	8.13
	 CMBS 
	 CMBS 
	 A- 
	 A 

	983130AU9
	WYNN LAS VEGAS LLC / WYNN LAS VEGA 144A
	Hartford Life Insurance Company
	CRC
	CRC983130AU9
	1,145,000
	1,145,000
	1,090,258
	1,090,258
	6.42
	 BIG Corporates 
	 HY Industrials 
	 BB 
	 BIG 

	36164QNA2
	GE CAPITAL INTERNATIONAL FUNDING C
	Hartford Life Insurance Company
	LC2
	LC236164QNA2
	4,376,835
	4,376,835
	4,413,288
	4,586,516
	18.88
	 Corporates 
	 Financial 
	 AA- 
	 AA  

	38082JAA7
	GLDN_16-2A       A 144A
	Hartford Life Insurance Company
	CRC
	CRC38082JAA7
	3,330,000
	3,330,000
	3,189,141
	3,189,141
	7.35
	 ABS 
	 Other ABS 
	 AA 
	 AA 

	35671DAZ8
	FREEPORT-MCMORAN INC
	Hartford Life Insurance Company
	CRC
	CRC35671DAZ8
	1,565,000
	1,565,000
	1,435,888
	1,435,888
	6.21
	 BIG Corporates 
	 HY Industrials 
	 BB- 
	 BIG 

	82481LAB5
	SHIRE ACQUISITIONS INVESTMENTS IRE
	Hartford Life Insurance Company
	CRC
	CRC82481LAB5
	17,411,000
	17,411,000
	16,818,800
	16,818,800
	4.73
	 Corporates 
	 Industrials 
	 Baa3 
	 BBB 

	410345AL6
	HANESBRANDS INC   144A
	Hartford Life Insurance Company
	CRC
	CRC410345AL6
	1,616,000
	1,616,000
	1,579,640
	1,579,640
	9.38
	 BIG Corporates 
	 HY Industrials 
	 Ba2 
	 BIG 

	BHM0M67U7
	HTFD RREEF IND    PN Prvt
	Hartford Life Insurance Company
	CRC
	CRCBHM0M67U7
	68,366,525
	68,366,525
	65,894,127
	65,894,127
	8.42
	 CML 
	 CML 
	 A2 
	 A 

	BHM0M67U7
	HTFD RREEF IND    PN Prvt
	Hartford Life Insurance Company
	LC2
	LC2BHM0M67U7
	6,734,121
	6,734,121
	6,734,121
	6,490,589
	8.42
	 CML 
	 CML 
	 A2 
	 A 

	BHM0M26W3
	HTFD FARRAGUT W   PN Prvt
	Hartford Life Insurance Company
	CRC
	CRCBHM0M26W3
	21,000,000
	19,014,878
	19,037,705
	19,037,705
	2.11
	 CML 
	 CML 
	 A1 
	 A 

	30292PAE8
	FREMF_15-K45     B 144A
	Hartford Life Insurance Company
	CRC
	CRC30292PAE8
	2,600,000
	2,600,000
	2,517,611
	2,517,611
	8.11
	 CMBS 
	 CMBS 
	 BBB+ 
	 BBB 

	446150AK0
	HUNTINGTON BANCSHARES INC
	Hartford Life Insurance Company
	CRC
	CRC446150AK0
	4,930,000
	4,930,000
	4,781,533
	4,781,533
	5.04
	 Corporates 
	 Financials 
	 Baa1 
	 BBB 

	BHM1F9406
	HARDWOOD FUNDING LLC       Prvt
	Hartford Life Insurance Company
	LC2
	LC2BHM1F9406
	4,000,000
	4,000,000
	4,000,000
	3,961,240
	9.44
	 Corporates 
	 Industrial 
	 A- 
	 A 

	36962GW75
	GENERAL ELECTRIC CAPITAL CORP MTN
	Hartford Life Insurance Company
	CRC
	CRC36962GW75
	10,255,000
	10,255,000
	9,921,887
	9,921,887
	9.35
	 Corporates 
	 Financials 
	 AA- 
	 AA 

	912828U57
	TREASURY NOTE (OLD)
	Hartford Life Insurance Company
	CRC
	CRC912828U57
	1,500,000
	1,500,000
	1,490,039
	1,490,039
	6.92
	 TSY 
	 TSY 
	 Govt 
	 govt 

	693304AP2
	PECO ENERGY CO
	Hartford Life Insurance Company
	CRC
	CRC693304AP2
	10,300,000
	10,300,000
	10,115,187
	10,115,187
	5.71
	 Corporates 
	 Utilities 
	 A 
	 A 

	38145GAG5
	GOLDMAN SACHS GROUP INC/THE
	Hartford Life Insurance Company
	CRC
	CRC38145GAG5
	6,555,000
	6,555,000
	6,368,576
	6,368,576
	4.88
	 Corporates 
	 Financials 
	 A3 
	 A 

	281020AJ6
	EDISON INTERNATIONAL
	Hartford Life Insurance Company
	CRC
	CRC281020AJ6
	7,500,000
	7,500,000
	7,411,838
	7,411,838
	6.21
	 Corporates 
	 Utilities 
	 A3 
	 A 

	
														
	40139LAA1
	GUARDIAN LIFE GLOBAL FUNDING 144A
	Hartford Life Insurance Company
	CRC
	CRC40139LAA1
	4,800,000
	4,800,000
	4,681,363
	4,681,363
	4.32
	 Corporates 
	 Financials 
	 Aa2 
	 AA 

	3132WEB43
	Freddie /Fannie Agency MBS
	Hartford Life Insurance Company
	CRC
	CRC3132WEB43
	2,637,000
	2,514,920
	2,499,866
	2,499,866
	9.47
	 MBS 
	 MBS 
	 Govt 
	 govt 

	3132WEB43
	Govt
	Hartford Life Insurance Company
	LC2
	LC23132WEB43
	4,795,740
	4,573,721
	4,697,007
	4,546,343
	9.47
	 MBS 
	 MBS 
	 Govt 
	 govt 

	254709AL2
	DISCOVER FINANCIAL SERVICES
	Hartford Life Insurance Company
	CRC
	CRC254709AL2
	10,000,000
	10,000,000
	9,776,610
	9,776,610
	8.18
	 Corporates 
	 Financials 
	 BBB- 
	 BBB 

	3132WED25
	Freddie /Fannie Agency MBS
	Hartford Life Insurance Company
	CRC
	CRC3132WED25
	870,000
	845,586
	840,522
	840,522
	9.47
	 MBS 
	 MBS 
	 Govt 
	 govt 

	3132WED25
	Govt
	Hartford Life Insurance Company
	LC2
	LC23132WED25
	5,291,150
	5,142,671
	5,291,755
	5,111,872
	9.47
	 MBS 
	 MBS 
	 Govt 
	 govt 

	3138WG5Q3
	Freddie /Fannie Agency MBS
	Hartford Life Insurance Company
	CRC
	CRC3138WG5Q3
	1,933,000
	1,882,500
	1,872,173
	1,872,173
	9.43
	 MBS 
	 MBS 
	 Govt 
	 govt 

	3138WG5Q3
	Govt
	Hartford Life Insurance Company
	LC2
	LC23138WG5Q3
	11,802,100
	11,493,768
	11,840,640
	11,430,714
	9.43
	 MBS 
	 MBS 
	 Govt 
	 govt 

	3138WHFN7
	Freddie /Fannie Agency MBS
	Hartford Life Insurance Company
	CRC
	CRC3138WHFN7
	1,845,000
	1,808,497
	1,798,576
	1,798,576
	9.43
	 MBS 
	 MBS 
	 Govt 
	 govt 

	3138WHFN7
	Govt
	Hartford Life Insurance Company
	LC2
	LC23138WHFN7
	3,354,450
	3,288,084
	3,380,690
	3,270,045
	9.43
	 MBS 
	 MBS 
	 Govt 
	 govt 

	3138WHER9
	Govt
	Hartford Life Insurance Company
	LC2
	LC23138WHER9
	13,833,495
	13,247,501
	13,660,664
	13,174,825
	9.43
	 MBS 
	 MBS 
	 Govt 
	 Govt 

	3140F5QW6
	Freddie /Fannie Agency MBS
	Hartford Life Insurance Company
	CRC
	CRC3140F5QW6
	22,919,000
	22,153,146
	22,031,614
	22,031,614
	9.43
	 MBS 
	 MBS 
	 Govt 
	 govt 

	3140F5QW6
	Govt
	Hartford Life Insurance Company
	LC2
	LC23140F5QW6
	2,761,670
	2,669,387
	2,744,894
	2,654,743
	9.43
	 MBS 
	 MBS 
	 Govt 
	 govt 

	3138WHFR8
	Freddie /Fannie Agency MBS
	Hartford Life Insurance Company
	CRC
	CRC3138WHFR8
	6,325,000
	6,050,682
	6,017,488
	6,017,488
	9.43
	 MBS 
	 MBS 
	 Govt 
	 govt 

	3138WHFR8
	Govt
	Hartford Life Insurance Company
	LC2
	LC23138WHFR8
	11,505,175
	11,006,191
	11,312,151
	10,945,811
	9.43
	 MBS 
	 MBS 
	 Govt 
	 govt 

	3140F5MJ9
	Freddie /Fannie Agency MBS
	Hartford Life Insurance Company
	CRC
	CRC3140F5MJ9
	3,508,000
	3,289,763
	3,271,715
	3,271,715
	9.43
	 MBS 
	 MBS 
	 Govt 
	 govt 

	3140F5MJ9
	Govt
	Hartford Life Insurance Company
	LC2
	LC23140F5MJ9
	422,650
	396,356
	407,698
	394,182
	9.43
	 MBS 
	 MBS 
	 Govt 
	 govt 

	30292NAG8
	FREMF_15-K44     B 144A
	Hartford Life Insurance Company
	LC2
	LC230292NAG8
	963,000
	963,000
	956,169
	927,981
	8.07
	 CMBS 
	 CMBS 
	 BBB+ 
	 BBB 

	61766RBC9
	MSBAM_16-C31    AS
	Hartford Life Insurance Company
	CRC
	CRC61766RBC9
	3,750,000
	3,750,000
	3,649,095
	3,649,095
	9.79
	 CMBS 
	 CMBS 
	 Aa3 
	 AA 

	66989HAJ7
	NOVARTIS CAPITAL CORP
	Hartford Life Insurance Company
	CRC
	CRC66989HAJ7
	7,425,000
	7,425,000
	7,372,906
	7,372,906
	8.89
	 Corporates 
	 Industrials 
	 AA- 
	 AA 

	95000HBH4
	WFCM_16-LC24    AS
	Hartford Life Insurance Company
	CRC
	CRC95000HBH4
	3,000,000
	3,000,000
	2,900,007
	2,900,007
	9.63
	 CMBS 
	 CMBS 
	 Aa2 
	 AA 

	95000HBH4
	WFCM_16-LC24    AS
	Hartford Life Insurance Company
	LC2
	LC295000HBH4
	1,070,000
	1,070,000
	1,101,307
	1,034,336
	9.63
	 CMBS 
	 CMBS 
	 Aa2 
	 AA 

	61765DAX6
	MSC_15-MS1       B
	Hartford Life Insurance Company
	LC2
	LC261765DAX6
	1,070,000
	1,070,000
	1,131,576
	1,062,473
	8.46
	 CMBS 
	 CMBS 
	 Aa1 
	 AA  

	17325DAF0
	CGCMT_16-P5     AS
	Hartford Life Insurance Company
	CRC
	CRC17325DAF0
	10,000,000
	10,000,000
	9,833,300
	9,833,300
	9.69
	 CMBS 
	 CMBS 
	 Aa2 
	 AA 

	969457BU3
	WILLIAMS COS INC
	Hartford Life Insurance Company
	CRC
	CRC969457BU3
	2,144,000
	2,144,000
	2,068,960
	2,068,960
	6.04
	 BIG Corporates 
	 HY Industrials 
	 BB 
	 BIG 

	BHM1JT3V1
	WASTE CONNECTIONS INC      Prvt
	Hartford Life Insurance Company
	CRC
	CRCBHM1JT3V1
	5,000,000
	5,000,000
	4,847,450
	4,847,450
	4.42
	 Corporates 
	 Industrials 
	 BBB 
	 BBB 

	912828U65
	TREASURY NOTE (OLD)
	Hartford Life Insurance Company
	CRC
	CRC912828U65
	800,000
	800,000
	794,031
	794,031
	4.92
	 TSY 
	 TSY 
	 Govt 
	 govt 

	00287YAQ2
	ABBVIE INC
	Hartford Life Insurance Company
	CRC
	CRC00287YAQ2
	9,820,000
	9,820,000
	9,726,592
	9,726,592
	8.37
	 Corporates 
	 Industrials 
	 Baa2 
	 BBB 

	151020AM6
	CELGENE CORPORATION
	Hartford Life Insurance Company
	LC2
	LC2151020AM6
	6,428,025
	6,428,025
	6,480,117
	6,293,801
	27.38
	 Corporates 
	 Industrial 
	 Baa2 
	 BBB 

	35690AAS7
	FREMF_16-K58     B 144A
	Hartford Life Insurance Company
	CRC
	CRC35690AAS7
	1,875,995
	1,875,995
	1,718,723
	1,718,723
	9.69
	 CMBS 
	 CMBS 
	 BBB+ 
	 BBB 

	83162CXR9
	SBAP_16-20C      1
	Hartford Life Insurance Company
	LC2
	LC283162CXR9
	3,210,000
	3,142,969
	3,142,969
	3,111,851
	6.32
	 Agency 
	 SBA 
	 Govt 
	 Govt 

	
														
	BHM01L3N7
	CREA DC PROPERT   PN Prvt
	Hartford Life Insurance Company
	CRC
	CRCBHM01L3N7
	35,000,000
	35,000,000
	34,309,421
	34,309,421
	7.92
	 CML 
	 CML 
	 Aa3 
	 AA 

	617451ER6
	MSAC_06-HE2     A1
	Hartford Life Insurance Company
	CRC
	CRC617451ER6
	24,720,000
	1,740,337
	1,627,025
	1,627,025
	2.77
	 ABS 
	 Home Equity 
	 Ba2 
	 BIG 

	149123CB5
	CATERPILLAR INC
	Hartford Life Insurance Company
	LC2
	LC2149123CB5
	2,407,500
	2,407,500
	2,065,811
	2,313,184
	25.63
	 Corporates 
	 Industrial 
	 A 
	 A 

	30286XAN9
	FREMF_15-K43     B 144A
	Hartford Life Insurance Company
	LC2
	LC230286XAN9
	3,103,000
	3,103,000
	3,120,594
	3,040,344
	8.05
	 CMBS 
	 CMBS 
	 A- 
	 A 

	17323CAK3
	CGCMT_15-GC27      B
	Hartford Life Insurance Company
	LC2
	LC217323CAK3
	1,679,900
	1,679,900
	1,721,768
	1,673,824
	7.96
	 CMBS 
	 CMBS 
	 Aa3 
	 AA  

	46623EKG3
	JPMORGAN CHASE & CO MTN
	Hartford Life Insurance Company
	CRC
	CRC46623EKG3
	27,500,000
	27,500,000
	26,990,535
	26,990,535
	4.63
	 Corporates 
	 Financials 
	 A- 
	 A 

	07274EAG8
	BAYER US FINANCE LLC       144A
	Hartford Life Insurance Company
	CRC
	CRC07274EAG8
	14,435,000
	14,435,000
	14,362,695
	14,362,695
	7.77
	 Corporates 
	 Industrials 
	 A3 
	 A 

	478160BU7
	JOHNSON & JOHNSON
	Hartford Life Insurance Company
	LC2
	LC2478160BU7
	1,912,625
	1,912,625
	1,953,598
	1,913,788
	18.67
	 Corporates 
	 Industrial 
	 AAA 
	 AAA 

	431318AN4
	HILCORP ENERGY I LP/HILCORP FINANC 144A
	Hartford Life Insurance Company
	CRC
	CRC431318AN4
	1,515,000
	1,515,000
	1,503,638
	1,503,638
	7.92
	 BIG Corporates 
	 HY Industrials 
	 Ba2 
	 BIG 

	845467AH2
	SOUTHWESTERN ENERGY COMPANY
	Hartford Life Insurance Company
	CRC
	CRC845467AH2
	1,112,000
	1,112,000
	1,050,618
	1,050,618
	5.21
	 BIG Corporates 
	 HY Industrials 
	 BB- 
	 BIG 

	17323CAE7
	CGCMT_15-GC27     A5
	Hartford Life Insurance Company
	LC2
	LC217323CAE7
	8,560,000
	8,560,000
	8,772,036
	8,546,715
	7.92
	 CMBS 
	 CMBS 
	 Aaa 
	 AAA 

	3136AQV80
	FNA_16-M1       A2
	Hartford Life Insurance Company
	LC2
	LC23136AQV80
	1,053,950
	1,053,950
	1,058,736
	1,054,950
	8.95
	 CMBS 
	 CMBS Agency 
	 Agency 
	 Govt 

	00507UAF8
	ACTAVIS FUNDING SCS
	Hartford Life Insurance Company
	CRC
	CRC00507UAF8
	14,795,000
	14,795,000
	14,926,927
	14,926,927
	7.21
	 Corporates 
	 Industrials 
	 BBB- 
	 BBB 

	166764AT7
	CHEVRON CORP
	Hartford Life Insurance Company
	CRC
	CRC166764AT7
	15,000,000
	15,000,000
	14,870,550
	14,870,550
	5.18
	 Corporates 
	 Industrials 
	 AA- 
	 AA 

	037833BY5
	APPLE INC
	Hartford Life Insurance Company
	CRC
	CRC037833BY5
	10,100,000
	10,100,000
	10,105,363
	10,105,363
	9.15
	 Corporates 
	 Industrials 
	 Aa1 
	 AA 

	200474BC7
	COMM_15-LC19    A4
	Hartford Life Insurance Company
	LC2
	LC2200474BC7
	4,280,000
	4,280,000
	4,385,962
	4,310,003
	7.98
	 CMBS 
	 CMBS 
	 Aaa 
	 AAA 

	00817YAQ1
	AETNA INC
	Hartford Life Insurance Company
	CRC
	CRC00817YAQ1
	5,400,000
	5,400,000
	5,478,575
	5,478,575
	7.63
	 Corporates 
	 Financials 
	 A- 
	 A 

	BHM0NS7F1
	KONINKLIJKE VOPAK NV       Prvt
	Hartford Life Insurance Company
	CRC
	CRCBHM0NS7F1
	4,000,000
	4,000,000
	3,991,920
	3,991,920
	6.47
	 Corporates 
	 Industrials 
	 Baa2 
	 BBB 

	68389XBB0
	ORACLE CORPORATION
	Hartford Life Insurance Company
	CRC
	CRC68389XBB0
	20,800,000
	20,800,000
	20,655,544
	20,655,544
	5.38
	 Corporates 
	 Industrials 
	 A+ 
	 A 

	BHM1EZ6U1
	PORTLAND GENERAL ELECTRIC COMP Prvt
	Hartford Life Insurance Company
	CRC
	CRCBHM1EZ6U1
	22,000,000
	22,000,000
	21,813,220
	21,813,220
	4.02
	 Corporates 
	 Utilities 
	 A- 
	 A 

	BHM1EZ6U1
	PORTLAND GENERAL ELECTRIC COMP Prvt
	Hartford Life Insurance Company
	LC2
	LC2BHM1EZ6U1
	7,000,000
	7,000,000
	7,000,000
	6,940,570
	4.02
	 Corporates 
	 Utilities 
	 A- 
	 A 

	61764RBF4
	MSBAM_15-C20    A4
	Hartford Life Insurance Company
	LC2
	LC261764RBF4
	6,420,000
	6,420,000
	6,578,599
	6,457,088
	7.93
	 CMBS 
	 CMBS 
	 Aaa 
	 AAA 

	90320MAA3
	UPCB FINANCE IV LTD        144A
	Hartford Life Insurance Company
	CRC
	CRC90320MAA3
	1,356,000
	1,356,000
	1,366,170
	1,366,170
	6.04
	 BIG Corporates 
	 HY Industrials 
	 BB 
	 BIG 

	90320MAA3
	UPCB FINANCE IV LTD        144A
	Hartford Life Insurance Company
	LC2
	LC290320MAA3
	2,154,000
	2,154,000
	2,082,696
	2,170,155
	6.04
	 BIG Corporates 
	 HY Industrials 
	 BB 
	 BIG 

	887317AZ8
	TIME WARNER INC
	Hartford Life Insurance Company
	CRC
	CRC887317AZ8
	11,437,000
	11,437,000
	11,449,318
	11,449,318
	9.04
	 Corporates 
	 Industrials 
	 BBB 
	 BBB 

	50076QAE6
	KRAFT FOODS GROUP INC
	Hartford Life Insurance Company
	LC2
	LC250076QAE6
	7,383,000
	7,383,000
	7,992,905
	7,559,719
	25.43
	 Corporates 
	 Industrial 
	 BBB- 
	 BBB 

	14314EAF8
	CARMX_16-3       C
	Hartford Life Insurance Company
	CRC
	CRC14314EAF8
	3,780,000
	3,780,000
	3,694,428
	3,694,428
	3.71
	 ABS 
	 Auto Loans 
	 A 
	 A 

	76112BA42
	RAMP_05-RZ3     M3
	Hartford Life Insurance Company
	CRC
	CRC76112BA42
	3,865,000
	3,865,000
	3,407,399
	3,407,399
	4.44
	 ABS 
	 Home Equity 
	 BB 
	 BIG 

	92937UAH1
	WFRBS_13-C13     C
	Hartford Life Insurance Company
	CRC
	CRC92937UAH1
	2,380,000
	2,380,000
	2,360,398
	2,360,398
	6.38
	 CMBS 
	 CMBS 
	 A3 
	 A 

	BHM1JRHW8
	MCGRAW-HILL GLOBAL EDUCATION     TLB Prvt
	Hartford Life Insurance Company
	CRC
	CRCBHM1JRHW8
	1,416,875
	1,416,875
	1,417,102
	1,417,102
	0.33
	 BIG Corporates 
	 Bank Loans 
	 B+ 
	 BIG 

	68389XBH7
	ORACLE CORPORATION
	Hartford Life Insurance Company
	LC2
	LC268389XBH7
	4,294,445
	4,294,445
	4,225,819
	4,191,035
	19.54
	 Corporates 
	 Industrial 
	 A+ 
	 A 

	
														
	126281BF0
	CSAIL_15-C1      C
	Hartford Life Insurance Company
	LC2
	LC2126281BF0
	1,872,500
	1,872,500
	1,887,779
	1,881,484
	8.13
	 CMBS 
	 CMBS 
	 A- 
	 A 

	46639YAW7
	JPMCC_13-LC11      C
	Hartford Life Insurance Company
	CRC
	CRC46639YAW7
	2,760,000
	2,760,000
	2,719,649
	2,719,649
	6.34
	 CMBS 
	 CMBS 
	 A3 
	 A 

	532716AN7
	LIMITED BRANDS INC
	Hartford Life Insurance Company
	CRC
	CRC532716AN7
	1,303,000
	1,303,000
	1,332,318
	1,332,318
	20.54
	 BIG Corporates 
	 HY Industrials 
	 Ba2 
	 BIG 

	74840LAA0
	QUICKEN LOANS INC 144A
	Hartford Life Insurance Company
	CRC
	CRC74840LAA0
	1,661,000
	1,661,000
	1,615,323
	1,615,323
	8.34
	 BIG Corporates 
	 HY Financials 
	 Ba2 
	 BIG 

	94989EAK3
	WFCM_15-LC20     B
	Hartford Life Insurance Company
	LC2
	LC294989EAK3
	2,621,500
	2,621,500
	2,688,176
	2,619,859
	8.21
	 CMBS 
	 CMBS 
	 Aa3 
	 AA  

	151020AS3
	CELGENE CORPORATION
	Hartford Life Insurance Company
	CRC
	CRC151020AS3
	8,510,000
	8,510,000
	8,631,778
	8,631,778
	8.37
	 Corporates 
	 Industrials 
	 Baa2 
	 BBB 

	12594JAJ4
	COMM_16-GCT      D 144A
	Hartford Life Insurance Company
	LC2
	LC212594JAJ4
	1,337,500
	1,337,500
	1,338,885
	1,299,356
	4.61
	 CMBS 
	 CMBS 
	 BBB- 
	 BBB 

	92890PAH7
	WFRBS_13-C14     B
	Hartford Life Insurance Company
	CRC
	CRC92890PAH7
	4,430,000
	4,430,000
	4,510,094
	4,510,094
	6.38
	 CMBS 
	 CMBS 
	 Aa3 
	 AA 

	74368CAD6
	PROTECTIVE LIFE GLOBAL FUNDING 144A
	Hartford Life Insurance Company
	CRC
	CRC74368CAD6
	33,600,000
	33,600,000
	33,086,760
	33,086,760
	2.70
	 Corporates 
	 Financials 
	 A2 
	 A 

	17275RBD3
	CISCO SYSTEMS INC
	Hartford Life Insurance Company
	CRC
	CRC17275RBD3
	12,553,000
	12,553,000
	12,525,948
	12,525,948
	4.16
	 Corporates 
	 Industrials 
	 A1 
	 A 

	82481LAA7
	SHIRE ACQUISITIONS INVESTMENTS IRE
	Hartford Life Insurance Company
	CRC
	CRC82481LAA7
	12,130,000
	12,130,000
	11,976,216
	11,976,216
	2.73
	 Corporates 
	 Industrials 
	 Baa3 
	 BBB 

	86960BAJ1
	SVENSKA HANDELSBANKEN AB MTN
	Hartford Life Insurance Company
	CRC
	CRC86960BAJ1
	8,000,000
	8,000,000
	7,983,048
	7,983,048
	3.75
	 Corporates 
	 Financials 
	 Aa2 
	 AA 

	86960BAJ1
	SVENSKA HANDELSBANKEN AB MTN
	Hartford Life Insurance Company
	LC2
	LC286960BAJ1
	2,006,250
	2,006,250
	2,004,754
	2,001,999
	3.75
	 Corporates 
	 Financials 
	 Aa2 
	 AA 

	760942BA9
	URUGUAY (ORIENTAL REPUBLIC OF)
	Hartford Life Insurance Company
	CRC
	CRC760942BA9
	1,890,000
	1,890,000
	1,701,000
	1,701,000
	32.47
	 EM 
	 EM 
	 Baa2 
	 BBB 

	83162CWX7
	SBAP_15-20C      1
	Hartford Life Insurance Company
	LC2
	LC283162CWX7
	3,317,000
	2,962,485
	2,962,485
	2,947,883
	5.66
	 Agency 
	 SBA 
	 Govt 
	 Govt 

	95000KBG9
	WFCM_16-NXS6     B
	Hartford Life Insurance Company
	CRC
	CRC95000KBG9
	9,464,000
	9,464,000
	9,156,732
	9,156,732
	9.71
	 CMBS 
	 CMBS 
	 AA- 
	 AA 

	87236YAE8
	TD AMERITRADE HOLDING CORPORATION
	Hartford Life Insurance Company
	CRC
	CRC87236YAE8
	15,890,000
	15,890,000
	16,087,815
	16,087,815
	5.09
	 Corporates 
	 Financials 
	 A3 
	 A 

	03065DAF4
	AMCAR_16-3       C
	Hartford Life Insurance Company
	CRC
	CRC03065DAF4
	13,000,000
	13,000,000
	12,867,998
	12,867,998
	3.43
	 ABS 
	 Auto Loans 
	 A 
	 A 

	075887BG3
	BECTON DICKINSON AND COMPANY
	Hartford Life Insurance Company
	LC2
	LC2075887BG3
	1,824,350
	1,824,350
	1,824,350
	1,889,926
	27.46
	 Corporates 
	 Industrial 
	 Baa2 
	 BBB 

	03065DAG2
	AMCAR_16-3       D
	Hartford Life Insurance Company
	CRC
	CRC03065DAG2
	5,790,000
	5,790,000
	5,695,270
	5,695,270
	4.00
	 ABS 
	 Auto Loans 
	 BBB 
	 BBB 

	00507UAR2
	ACTAVIS FUNDING SCS
	Hartford Life Insurance Company
	CRC
	CRC00507UAR2
	16,450,000
	16,450,000
	16,696,898
	16,696,898
	5.04
	 Corporates 
	 Industrials 
	 BBB- 
	 BBB 

	B0A016S52
	PERU (THE REPUBLIC OF)
	Hartford Life Insurance Company
	CRC
	CRCB0A016S52
	2,520,000
	2,520,000
	2,469,600
	2,469,600
	10.69
	 EM 
	 EM 
	 BBB+ 
	 BBB 

	928668AM4
	VOLKSWAGEN GROUP OF AMERICA FINANC 144A
	Hartford Life Insurance Company
	CRC
	CRC928668AM4
	8,635,000
	8,635,000
	8,545,248
	8,545,248
	3.39
	 Corporates 
	 Industrials 
	 BBB+ 
	 BBB 

	731011AT9
	POLAND (REPUBLIC OF)
	Hartford Life Insurance Company
	CRC
	CRC731011AT9
	1,675,000
	1,675,000
	1,641,500
	1,641,500
	6.21
	 EM 
	 EM 
	 A- 
	 A 

	857477AN3
	STATE STREET CORP
	Hartford Life Insurance Company
	CRC
	CRC857477AN3
	13,000,000
	13,000,000
	13,128,024
	13,128,024
	7.96
	 Corporates 
	 Financials 
	 A1 
	 A 

	BHM1DG0Q9
	GUADALUPE VALLEY ELECTRIC COOPERAT Prvt
	Hartford Life Insurance Company
	LC2
	LC2BHM1DG0Q9
	10,000,000
	9,800,000
	9,800,000
	9,864,484
	14.26
	 Corporates 
	 Utilities 
	 AA- 
	 AA  

	87165BAG8
	SYNCHRONY FINANCIAL
	Hartford Life Insurance Company
	LC2
	LC287165BAG8
	3,964,350
	3,964,350
	3,951,549
	4,072,046
	8.32
	 Corporates 
	 Financial 
	 BBB- 
	 BBB 

	87165BAD5
	SYNCHRONY FINANCIAL
	Hartford Life Insurance Company
	CRC
	CRC87165BAD5
	8,550,000
	8,550,000
	8,703,455
	8,703,455
	7.38
	 Corporates 
	 Financials 
	 BBB- 
	 BBB 

	59217GBR9
	METROPOLITAN LIFE GLOBAL FUNDING I 144A
	Hartford Life Insurance Company
	CRC
	CRC59217GBR9
	4,000,000
	4,000,000
	4,001,404
	4,001,404
	3.93
	 Corporates 
	 Financials 
	 AA- 
	 AA 

	57629WBW9
	MASSMUTUAL GLOBAL FUNDING II 144A
	Hartford Life Insurance Company
	CRC
	CRC57629WBW9
	17,500,000
	17,500,000
	17,495,608
	17,495,608
	3.90
	 Corporates 
	 Financials 
	 AA+ 
	 AA 

	453140AB1
	IMPERIAL BRANDS FINANCE PLC 144A
	Hartford Life Insurance Company
	CRC
	CRC453140AB1
	8,642,000
	8,642,000
	8,689,410
	8,689,410
	5.86
	 Corporates 
	 Industrials 
	 BBB 
	 BBB 

	
														
	233851BR4
	DAIMLER FINANCE NORTH AMERICA LLC 144A
	Hartford Life Insurance Company
	CRC
	CRC233851BR4
	3,535,000
	3,535,000
	3,518,750
	3,518,750
	3.17
	 Corporates 
	 Industrials 
	 A- 
	 A 

	69353REP9
	PNC BANK NA MTN
	Hartford Life Insurance Company
	CRC
	CRC69353REP9
	6,000,000
	6,000,000
	5,997,420
	5,997,420
	3.42
	 Corporates 
	 Financials 
	 A 
	 A 

	75156XAC5
	RAMP_06-RZ4     A3
	Hartford Life Insurance Company
	CRC
	CRC75156XAC5
	6,000,000
	6,000,000
	5,321,928
	5,321,928
	3.92
	 ABS 
	 Home Equity 
	 B 
	 BIG 

	12625KAM7
	COMM_13-CR8      B 144A
	Hartford Life Insurance Company
	CRC
	CRC12625KAM7
	8,500,000
	8,500,000
	8,700,651
	8,700,651
	6.40
	 CMBS 
	 CMBS 
	 Aa3 
	 AA 

	12625KAM7
	COMM_13-CR8      B 144A
	Hartford Life Insurance Company
	LC2
	LC212625KAM7
	802,500
	802,500
	816,137
	821,444
	6.40
	 CMBS 
	 CMBS 
	 Aa3 
	 AA 

	BHM1AS5W8
	WHEELING POWER CO Prvt
	Hartford Life Insurance Company
	CRC
	CRCBHM1AS5W8
	7,000,000
	7,000,000
	6,844,110
	6,844,110
	5.42
	 Corporates 
	 Utilities 
	 Baa2 
	 BBB 

	78443CCY8
	SLMA_06-BW      A5
	Hartford Life Insurance Company
	CRC
	CRC78443CCY8
	10,000,000
	10,000,000
	9,230,320
	9,230,320
	5.36
	 ABS 
	 Student Loans 
	 AA 
	 AA 

	06406HDF3
	BANK OF NEW YORK MELLON CORP/THE MTN
	Hartford Life Insurance Company
	CRC
	CRC06406HDF3
	3,445,000
	3,445,000
	3,446,254
	3,446,254
	3.91
	 Corporates 
	 Financials 
	 A1 
	 A 

	07274EAF0
	BAYER US FINANCE LLC       144A
	Hartford Life Insurance Company
	CRC
	CRC07274EAF0
	32,695,000
	32,695,000
	32,874,528
	32,874,528
	4.77
	 Corporates 
	 Industrials 
	 A3 
	 A 

	320276AB4
	FFML_06-FF9     1A
	Hartford Life Insurance Company
	LC2
	LC2320276AB4
	6,741,000
	897,698
	834,650
	831,595
	3.47
	 ABS 
	 Home Equity 
	 CCC 
	 BIG 

	233851BV5
	DAIMLER FINANCE NORTH AMERICA LLC 144A
	Hartford Life Insurance Company
	CRC
	CRC233851BV5
	34,305,000
	34,305,000
	34,235,944
	34,235,944
	3.38
	 Corporates 
	 Industrials 
	 A- 
	 A 

	539830BH1
	LOCKHEED MARTIN CORPORATION
	Hartford Life Insurance Company
	CRC
	CRC539830BH1
	5,625,000
	5,625,000
	5,747,130
	5,747,130
	8.79
	 Corporates 
	 Industrials 
	 BBB+ 
	 BBB 

	61746BDZ6
	MORGAN STANLEY
	Hartford Life Insurance Company
	CRC
	CRC61746BDZ6
	5,000,000
	5,000,000
	5,050,530
	5,050,530
	9.08
	 Corporates 
	 Financials 
	 A3 
	 A 

	BHM191228
	TRITON CONTAINER INTERNATIONAL LTD Prvt
	Hartford Life Insurance Company
	CRC
	CRCBHM191228
	15,000,000
	15,000,000
	15,013,950
	15,013,950
	3.25
	 Corporates 
	 Industrials 
	 BBB 
	 BBB 

	86359UAE9
	SASC_06-OPT1    A5
	Hartford Life Insurance Company
	CRC
	CRC86359UAE9
	2,500,000
	2,103,769
	2,047,865
	2,047,865
	2.44
	 ABS 
	 Home Equity 
	 BBB 
	 BBB 

	92939LAJ5
	WFRBS_14-C25     C
	Hartford Life Insurance Company
	LC2
	LC292939LAJ5
	3,012,532
	3,012,532
	3,082,284
	3,004,795
	7.88
	 CMBS 
	 CMBS 
	 A3 
	 A 

	002824BD1
	ABBOTT LABORATORIES
	Hartford Life Insurance Company
	CRC
	CRC002824BD1
	5,200,000
	5,200,000
	5,185,180
	5,185,180
	4.92
	 Corporates 
	 Industrials 
	 A 
	 A 

	233851BE3
	DAIMLER FINANCE NORTH AMERICA LLC 144A
	Hartford Life Insurance Company
	CRC
	CRC233851BE3
	3,720,000
	3,720,000
	3,742,889
	3,742,889
	4.19
	 Corporates 
	 Industrials 
	 A- 
	 A 

	637432MU6
	NATIONAL RURAL UTILITIES COOP FINA
	Hartford Life Insurance Company
	CRC
	CRC637432MU6
	5,315,000
	5,315,000
	5,322,638
	5,322,638
	3.46
	 Corporates 
	 Utilities 
	 A1 
	 A 

	24702RAF8
	DELL INC
	Hartford Life Insurance Company
	CRC
	CRC24702RAF8
	1,340,000
	1,340,000
	1,262,950
	1,262,950
	21.29
	 BIG Corporates 
	 HY Industrials 
	 Ba2 
	 BIG 

	37045XAW6
	GENERAL MOTORS FINANCIAL CO INC
	Hartford Life Insurance Company
	CRC
	CRC37045XAW6
	5,000,000
	5,000,000
	4,944,675
	4,944,675
	5.28
	 Corporates 
	 Industrials 
	 BBB- 
	 BBB 

	BHM0PKFV2
	KIRBY CORPORATION Prvt
	Hartford Life Insurance Company
	CRC
	CRCBHM0PKFV2
	10,000,000
	10,000,000
	9,963,600
	9,963,600
	3.16
	 Corporates 
	 Industrials 
	 Baa2 
	 BBB 

	002824BE9
	ABBOTT LABORATORIES
	Hartford Life Insurance Company
	CRC
	CRC002824BE9
	5,726,000
	5,726,000
	5,704,476
	5,704,476
	6.92
	 Corporates 
	 Industrials 
	 A 
	 A 

	00252GAD1
	AMIT_06-1       A4
	Hartford Life Insurance Company
	CRC
	CRC00252GAD1
	1,991,000
	1,991,000
	1,796,963
	1,796,963
	3.67
	 ABS 
	 Home Equity 
	 B+ 
	 BIG 

	07330NAL9
	BRANCH BANKING AND TRUST COMPANY MTN
	Hartford Life Insurance Company
	CRC
	CRC07330NAL9
	16,200,000
	16,200,000
	16,019,629
	16,019,629
	2.36
	 Corporates 
	 Financials 
	 A1 
	 A 

	36197XAQ7
	GSMS_13-GC12     B
	Hartford Life Insurance Company
	CRC
	CRC36197XAQ7
	4,700,000
	4,700,000
	4,775,877
	4,775,877
	6.36
	 CMBS 
	 CMBS 
	 AA- 
	 AA 

	36197XAQ7
	GSMS_13-GC12     B
	Hartford Life Insurance Company
	LC2
	LC236197XAQ7
	2,675,000
	2,675,000
	2,557,253
	2,718,185
	6.36
	 CMBS 
	 CMBS 
	 AA- 
	 AA 

	00287YAT6
	ABBVIE INC
	Hartford Life Insurance Company
	CRC
	CRC00287YAT6
	18,065,000
	18,065,000
	18,069,715
	18,069,715
	3.37
	 Corporates 
	 Industrials 
	 Baa2 
	 BBB 

	74368CAA2
	PROTECTIVE LIFE GLOBAL FUNDING 144A
	Hartford Life Insurance Company
	CRC
	CRC74368CAA2
	4,960,000
	4,960,000
	4,967,227
	4,967,227
	3.90
	 Corporates 
	 Financials 
	 A2 
	 A 

	166754AM3
	CHEVRON PHILLIPS CHEMICAL CO LLC 144A
	Hartford Life Insurance Company
	CRC
	CRC166754AM3
	25,000,000
	25,000,000
	24,827,075
	24,827,075
	3.34
	 Corporates 
	 Industrials 
	 A- 
	 A 

	63939EAB9
	NAVSL_15-AA    A2A 144A
	Hartford Life Insurance Company
	LC2
	LC263939EAB9
	3,745,000
	3,745,000
	3,744,037
	3,743,483
	4.21
	 ABS 
	 Student Loan 
	 Aaa 
	 AAA 

	
														
	46640JAX5
	JPMCC_13-C13     C
	Hartford Life Insurance Company
	CRC
	CRC46640JAX5
	7,660,000
	7,660,000
	7,592,316
	7,592,316
	6.49
	 CMBS 
	 CMBS 
	 A3 
	 A 

	30265AAN4
	FREMF_13-K33     B 144A
	Hartford Life Insurance Company
	CRC
	CRC30265AAN4
	3,500,000
	3,500,000
	3,524,150
	3,524,150
	6.57
	 CMBS 
	 CMBS 
	 A2 
	 A 

	00434QAA6
	ACCSS_13-1       A 144A
	Hartford Life Insurance Company
	CRC
	CRC00434QAA6
	3,750,000
	1,848,561
	1,825,783
	1,825,783
	3.40
	 ABS 
	 Student Loans 
	 AA+ 
	 AA 

	928668AH5
	VOLKSWAGEN GROUP OF AMERICA FINANC 144A
	Hartford Life Insurance Company
	CRC
	CRC928668AH5
	20,000,000
	20,000,000
	19,950,240
	19,950,240
	2.89
	 Corporates 
	 Industrials 
	 BBB+ 
	 BBB 

	61764XBL8
	MSBAM_15-C21    AS
	Hartford Life Insurance Company
	LC2
	LC261764XBL8
	1,712,000
	1,712,000
	1,755,115
	1,722,488
	8.13
	 CMBS 
	 CMBS 
	 Aa1 
	 AA  

	36251FAW6
	GSMS_15-GC28    A5
	Hartford Life Insurance Company
	LC2
	LC236251FAW6
	4,226,500
	4,226,500
	4,332,470
	4,298,126
	8.03
	 CMBS 
	 CMBS 
	 Aaa 
	 AAA 

	BHM1KDYL2
	HTFD 8 TOWER BR   PN Prvt
	Hartford Life Insurance Company
	CRC
	CRCBHM1KDYL2
	20,000,000
	20,000,000
	19,807,665
	19,807,665
	2.92
	 CML 
	 CML 
	 A1 
	 A 

	375558BF9
	GILEAD SCIENCES INC
	Hartford Life Insurance Company
	CRC
	CRC375558BF9
	11,000,000
	11,000,000
	11,153,307
	11,153,307
	8.92
	 Corporates 
	 Industrials 
	 A3 
	 A 

	33843PAG1
	FCAT_16-3        C 144A
	Hartford Life Insurance Company
	CRC
	CRC33843PAG1
	6,600,000
	6,600,000
	6,501,488
	6,501,488
	3.13
	 ABS 
	 Auto Loans 
	 A 
	 A 

	05530QAG5
	BAT INTERNATIONAL FINANCE PLC 144A
	Hartford Life Insurance Company
	CRC
	CRC05530QAG5
	15,100,000
	15,100,000
	15,180,770
	15,180,770
	3.46
	 Corporates 
	 Industrials 
	 A- 
	 A 

	26884TAM4
	ERAC USA FINANCE LLC       144A
	Hartford Life Insurance Company
	CRC
	CRC26884TAM4
	6,403,000
	6,403,000
	6,397,314
	6,397,314
	2.79
	 Corporates 
	 Industrials 
	 Baa1 
	 BBB 

	14314MAF0
	CARMX_16-2       C
	Hartford Life Insurance Company
	CRC
	CRC14314MAF0
	2,000,000
	2,000,000
	1,985,878
	1,985,878
	3.38
	 ABS 
	 Auto Loans 
	 A 
	 A 

	46625HJE1
	JPMORGAN CHASE & CO
	Hartford Life Insurance Company
	CRC
	CRC46625HJE1
	7,690,000
	7,690,000
	7,776,820
	7,776,820
	5.73
	 Corporates 
	 Financials 
	 A- 
	 A 

	30161NAH4
	EXELON CORPORATION
	Hartford Life Insurance Company
	CRC
	CRC30161NAH4
	11,419,000
	11,419,000
	11,540,898
	11,540,898
	3.37
	 Corporates 
	 Utilities 
	 Baa2 
	 BBB 

	64352VLM1
	NCHET_05-3      M4
	Hartford Life Insurance Company
	LC2
	LC264352VLM1
	1,658,500
	1,658,500
	1,494,870
	1,429,451
	7.15
	 ABS 
	 Home Equity 
	 B 
	 BIG 

	585055BS4
	MEDTRONIC INC
	Hartford Life Insurance Company
	CRC
	CRC585055BS4
	3,760,000
	3,760,000
	3,871,725
	3,871,725
	8.21
	 Corporates 
	 Industrials 
	 A3 
	 A 

	30288BAE5
	FREMF_15-K721      B 144A
	Hartford Life Insurance Company
	LC2
	LC230288BAE5
	1,356,225
	1,356,225
	1,351,443
	1,322,875
	5.71
	 CMBS 
	 CMBS 
	 Baa2 
	 BBB 

	07274EAD5
	BAYER US FINANCE LLC       144A
	Hartford Life Insurance Company
	CRC
	CRC07274EAD5
	59,605,000
	59,605,000
	59,710,560
	59,710,560
	2.77
	 Corporates 
	 Industrials 
	 A3 
	 A 

	617451DR7
	MSAC_06-HE1     A4
	Hartford Life Insurance Company
	LC2
	LC2617451DR7
	3,509,600
	2,922,991
	2,738,234
	2,729,471
	4.48
	 ABS 
	 Home Equity 
	 CCC 
	 BIG 

	86562MAC4
	SUMITOMO MITSUI FINANCIAL GROUP IN
	Hartford Life Insurance Company
	CRC
	CRC86562MAC4
	7,355,000
	7,355,000
	7,519,119
	7,519,119
	9.19
	 Corporates 
	 Financials 
	 A- 
	 A 

	05565QCX4
	BP CAPITAL MARKETS PLC
	Hartford Life Insurance Company
	CRC
	CRC05565QCX4
	19,920,000
	19,920,000
	19,922,809
	19,922,809
	3.12
	 Corporates 
	 Industrials 
	 A2 
	 A 

	BHM0NRNS7
	STERICYCLE INC    Prvt
	Hartford Life Insurance Company
	CRC
	CRCBHM0NRNS7
	10,000,000
	10,000,000
	10,062,200
	10,062,200
	2.95
	 Corporates 
	 Industrials 
	 A3 
	 A 

	03040WAL9
	AMERICAN WATER CAPITAL CORP
	Hartford Life Insurance Company
	CRC
	CRC03040WAL9
	7,170,000
	7,170,000
	7,337,434
	7,337,434
	7.91
	 Corporates 
	 Utilities 
	 A3 
	 A 

	709599AS3
	PENSKE TRUCK LEASING COMPANY LP / 144A
	Hartford Life Insurance Company
	CRC
	CRC709599AS3
	11,000,000
	11,000,000
	11,093,049
	11,093,049
	4.92
	 Corporates 
	 Industrials 
	 BBB 
	 BBB 

	606822AA2
	MITSUBISHI UFJ FINANCIAL GROUP INC
	Hartford Life Insurance Company
	CRC
	CRC606822AA2
	8,335,000
	8,335,000
	8,390,636
	8,390,636
	4.17
	 Corporates 
	 Financials 
	 A 
	 A 

	81375WGU4
	SABR_05-OP2     M1
	Hartford Life Insurance Company
	CRC
	CRC81375WGU4
	2,590,000
	2,590,000
	2,371,546
	2,371,546
	3.16
	 ABS 
	 Home Equity 
	 BBB+ 
	 BBB 

	637432MQ5
	NATIONAL RURAL UTILITIES COOP FINA
	Hartford Life Insurance Company
	CRC
	CRC637432MQ5
	4,245,000
	4,245,000
	4,339,061
	4,339,061
	4.87
	 Corporates 
	 Utilities 
	 A1 
	 A 

	05531FAU7
	BB&T CORP MTN
	Hartford Life Insurance Company
	CRC
	CRC05531FAU7
	6,175,000
	6,175,000
	6,223,375
	6,223,375
	3.41
	 Corporates 
	 Financials 
	 A2 
	 A 

	68389FJY1
	OOMLT_05-5      M1
	Hartford Life Insurance Company
	CRC
	CRC68389FJY1
	4,815,000
	4,815,000
	4,325,873
	4,325,873
	3.78
	 ABS 
	 Home Equity 
	 BBB 
	 BBB 

	13976AAH3
	AFIN_16-3        D
	Hartford Life Insurance Company
	LC2
	LC213976AAH3
	1,444,500
	1,444,500
	1,449,419
	1,422,233
	3.47
	 ABS 
	 Auto 
	 A3 
	 A 

	453140AD7
	IMPERIAL BRANDS FINANCE PLC 144A
	Hartford Life Insurance Company
	CRC
	CRC453140AD7
	9,495,000
	9,495,000
	9,553,090
	9,553,090
	3.56
	 Corporates 
	 Industrials 
	 BBB 
	 BBB 

	
														
	80556XAA5
	SAST_06-2       A1
	Hartford Life Insurance Company
	CRC
	CRC80556XAA5
	45,210,000
	4,972,429
	4,824,832
	4,824,832
	2.86
	 ABS 
	 Home Equity 
	 A 
	 A 

	13974MAF3
	AFIN_16-2        C
	Hartford Life Insurance Company
	CRC
	CRC13974MAF3
	3,820,000
	3,820,000
	3,769,381
	3,769,381
	3.33
	 ABS 
	 Auto Loans 
	 A+ 
	 A 

	002824BC3
	ABBOTT LABORATORIES
	Hartford Life Insurance Company
	CRC
	CRC002824BC3
	6,668,000
	6,668,000
	6,675,862
	6,675,862
	2.89
	 Corporates 
	 Industrials 
	 A 
	 A 

	437084MJ2
	HEAT_05-5       M3
	Hartford Life Insurance Company
	CRC
	CRC437084MJ2
	5,000,000
	5,000,000
	4,308,485
	4,308,485
	3.56
	 ABS 
	 Home Equity 
	 CCC 
	 BIG 

	BHM0RMP52
	HTFD LIT IX WHL   PN Prvt
	Hartford Life Insurance Company
	CRC
	CRCBHM0RMP52
	25,000,000
	24,294,351
	24,078,959
	24,078,959
	3.37
	 CML 
	 CML 
	 A1 
	 A 

	637432NB7
	NATIONAL RURAL UTILITIES COOP FINA
	Hartford Life Insurance Company
	CRC
	CRC637432NB7
	9,200,000
	9,200,000
	9,264,980
	9,264,980
	2.79
	 Corporates 
	 Utilities 
	 A1 
	 A 

	90349GAN5
	UBSBB_13-C6      B 144A
	Hartford Life Insurance Company
	CRC
	CRC90349GAN5
	4,620,000
	4,620,000
	4,716,059
	4,716,059
	6.22
	 CMBS 
	 CMBS 
	 Aa3 
	 AA 

	05530QAL4
	BAT INTERNATIONAL FINANCE PLC 144A
	Hartford Life Insurance Company
	CRC
	CRC05530QAL4
	18,940,000
	18,940,000
	19,412,307
	19,412,307
	5.46
	 Corporates 
	 Industrials 
	 A- 
	 A 

	12623SAQ3
	COMM_12-CR5      C 144A
	Hartford Life Insurance Company
	LC2
	LC212623SAQ3
	1,180,046
	1,180,046
	1,240,106
	1,187,701
	5.94
	 CMBS 
	 CMBS 
	 A2 
	 A 

	035242AL0
	ANHEUSER-BUSCH INBEV FINANCE INC
	Hartford Life Insurance Company
	CRC
	CRC035242AL0
	13,636,000
	13,636,000
	13,877,794
	13,877,794
	5.92
	 Corporates 
	 Industrials 
	 A3 
	 A 

	12591KAK1
	COMM_13-CR12     C
	Hartford Life Insurance Company
	CRC
	CRC12591KAK1
	4,700,000
	4,700,000
	4,861,459
	4,861,459
	6.86
	 CMBS 
	 CMBS 
	 A3 
	 A 

	94989DAY5
	WFCM_15-C27     AS
	Hartford Life Insurance Company
	LC2
	LC294989DAY5
	2,883,650
	2,883,650
	2,956,515
	2,964,848
	8.18
	 CMBS 
	 CMBS 
	 Aa2 
	 AA  

	06406HDD8
	BANK OF NEW YORK MELLON CORP/THE MTN
	Hartford Life Insurance Company
	CRC
	CRC06406HDD8
	16,445,000
	16,445,000
	16,564,736
	16,564,736
	3.54
	 Corporates 
	 Financials 
	 A1 
	 A 

	771196BB7
	ROCHE HOLDINGS INC         144A
	Hartford Life Insurance Company
	CRC
	CRC771196BB7
	16,665,000
	16,665,000
	16,951,338
	16,951,338
	4.58
	 Corporates 
	 Industrials 
	 A1 
	 A 

	651229AV8
	NEWELL RUBBERMAID INC
	Hartford Life Insurance Company
	CRC
	CRC651229AV8
	3,332,000
	3,332,000
	3,456,307
	3,456,307
	6.08
	 Corporates 
	 Industrials 
	 BBB- 
	 BBB 

	1248EPBM4
	CCO HOLDINGS LLC/CCO HOLDINGS CAPI 144A
	Hartford Life Insurance Company
	CRC
	CRC1248EPBM4
	3,221,000
	3,221,000
	3,333,735
	3,333,735
	7.13
	 BIG Corporates 
	 HY Industrials 
	 BB+ 
	 BIG 

	197677AH0
	HCA INC
	Hartford Life Insurance Company
	CRC
	CRC197677AH0
	1,534,000
	1,534,000
	1,468,805
	1,468,805
	78.88
	 BIG Corporates 
	 HY Industrials 
	 B+ 
	 BIG 

	698299BE3
	PANAMA (REPUBLIC OF)
	Hartford Life Insurance Company
	CRC
	CRC698299BE3
	2,400,000
	2,400,000
	2,382,000
	2,382,000
	8.21
	 EM 
	 EM 
	 BBB 
	 BBB 

	61761JB32
	MORGAN STANLEY
	Hartford Life Insurance Company
	CRC
	CRC61761JB32
	20,000,000
	20,000,000
	20,163,680
	20,163,680
	3.46
	 Corporates 
	 Financials 
	 A3 
	 A 

	591894BY5
	METROPOLITAN EDISON CO     144A
	Hartford Life Insurance Company
	CRC
	CRC591894BY5
	11,153,000
	11,153,000
	11,135,780
	11,135,780
	6.21
	 Corporates 
	 Utilities 
	 BBB- 
	 BBB 

	02665WAH4
	AMERICAN HONDA FINANCE CORPORATION
	Hartford Life Insurance Company
	CRC
	CRC02665WAH4
	10,000,000
	10,000,000
	10,097,370
	10,097,370
	2.63
	 Corporates 
	 Industrials 
	 A1 
	 A 

	49327M2F0
	KEYBANK NA/CLEVELAND OH
	Hartford Life Insurance Company
	CRC
	CRC49327M2F0
	3,500,000
	3,500,000
	3,536,453
	3,536,453
	2.96
	 Corporates 
	 Financials 
	 A- 
	 A 

	706451BG5
	PETROLEOS MEXICANOS
	Hartford Life Insurance Company
	CRC
	CRC706451BG5
	1,205,000
	1,205,000
	1,186,925
	1,186,925
	18.46
	 EM 
	 EM 
	 BBB+ 
	 BBB 

	05565QCZ9
	BP CAPITAL MARKETS PLC
	Hartford Life Insurance Company
	CRC
	CRC05565QCZ9
	5,000,000
	5,000,000
	5,057,510
	5,057,510
	5.21
	 Corporates 
	 Industrials 
	 A2 
	 A 

	912828U40
	TREASURY NOTE (OLD)
	Hartford Life Insurance Company
	CRC
	CRC912828U40
	6,310,000
	6,310,000
	6,289,789
	6,289,789
	1.92
	 TSY 
	 TSY 
	 Govt 
	 govt 

	BHM1EVSR3
	ICON INVESTMENTS FIVE UNLIMITED CO Prvt
	Hartford Life Insurance Company
	CRC
	CRCBHM1EVSR3
	5,000,000
	5,000,000
	5,050,900
	5,050,900
	3.96
	 Corporates 
	 Industrials 
	 Baa3 
	 BBB 

	90520EAF8
	UNION BANK NA
	Hartford Life Insurance Company
	CRC
	CRC90520EAF8
	11,370,000
	11,370,000
	11,387,896
	11,387,896
	2.27
	 Corporates 
	 Financials 
	 A 
	 A 

	32027NLR0
	FFML_04-FFH3    M1
	Hartford Life Insurance Company
	LC2
	LC232027NLR0
	8,565,350
	3,136,545
	3,080,628
	3,107,337
	1.51
	 ABS 
	 Home Equity 
	 Baa2 
	 BBB 

	63939GAD0
	NAVSL_15-2       B
	Hartford Life Insurance Company
	LC2
	LC263939GAD0
	1,524,750
	1,524,750
	1,478,331
	1,314,847
	11.05
	 ABS 
	 Student Loan 
	 A+ 
	 A 

	61749HAA8
	MSAC_06-HE3     A1
	Hartford Life Insurance Company
	CRC
	CRC61749HAA8
	20,595,000
	1,844,247
	1,739,735
	1,739,735
	2.90
	 ABS 
	 Home Equity 
	 B 
	 BIG 

	69351UAP8
	PPL ELECTRIC UTILITIES CORPORATION
	Hartford Life Insurance Company
	CRC
	CRC69351UAP8
	10,000,000
	10,000,000
	10,149,750
	10,149,750
	4.71
	 Corporates 
	 Utilities 
	 A 
	 A 

	
														
	74113MAF7
	PART_16-2A       D 144A
	Hartford Life Insurance Company
	CRC
	CRC74113MAF7
	3,488,000
	3,488,000
	3,418,146
	3,418,146
	3.71
	 ABS 
	 Auto Loans 
	 BBB 
	 BBB 

	33843PAE6
	FCAT_16-3        B 144A
	Hartford Life Insurance Company
	CRC
	CRC33843PAE6
	5,875,000
	5,875,000
	5,821,925
	5,821,925
	2.32
	 ABS 
	 Auto Loans 
	 AA 
	 AA 

	912828T42
	TREASURY NOTE
	Hartford Life Insurance Company
	CRC
	CRC912828T42
	2,220,000
	2,220,000
	2,204,997
	2,204,997
	1.75
	 TSY 
	 TSY 
	 Govt 
	 govt 

	20451PKN5
	COMPASS BANK
	Hartford Life Insurance Company
	LC2
	LC220451PKN5
	2,220,250
	2,220,250
	2,217,335
	2,208,165
	2.75
	 Corporates 
	 Financial 
	 BBB+ 
	 BBB 

	25466AAG6
	DISCOVER BANK
	Hartford Life Insurance Company
	CRC
	CRC25466AAG6
	22,800,000
	22,800,000
	23,073,281
	23,073,281
	3.34
	 Corporates 
	 Financials 
	 BBB 
	 BBB 

	25470XAE5
	DISH DBS CORP
	Hartford Life Insurance Company
	CRC
	CRC25470XAE5
	3,388,000
	3,388,000
	3,675,980
	3,675,980
	4.42
	 BIG Corporates 
	 HY Industrials 
	 Ba3 
	 BIG 

	35671DBH7
	FREEPORT-MCMORAN INC
	Hartford Life Insurance Company
	CRC
	CRC35671DBH7
	2,663,000
	2,663,000
	2,596,425
	2,596,425
	4.87
	 BIG Corporates 
	 HY Industrials 
	 BB- 
	 BIG 

	382550BE0
	GOODYEAR TIRE & RUBBER COMPANY (TH
	Hartford Life Insurance Company
	CRC
	CRC382550BE0
	1,327,000
	1,327,000
	1,366,810
	1,366,810
	3.88
	 BIG Corporates 
	 HY Industrials 
	 BB 
	 BIG 

	63939DAD7
	NAVSL_14-8       B
	Hartford Life Insurance Company
	LC2
	LC263939DAD7
	1,337,500
	1,337,500
	1,303,259
	1,208,565
	10.80
	 ABS 
	 Student Loan 
	 A 
	 A 

	01026CAC5
	ALABAMA ECONOMIC SETTLEMENT AU
	Hartford Life Insurance Company
	CRC
	CRC01026CAC5
	10,000,000
	10,000,000
	10,086,500
	10,086,500
	5.42
	 Corporates 
	 Taxable Muni 
	 A- 
	 A 

	151020AR5
	CELGENE CORPORATION
	Hartford Life Insurance Company
	CRC
	CRC151020AR5
	16,246,000
	16,246,000
	16,661,735
	16,661,735
	5.63
	 Corporates 
	 Industrials 
	 Baa2 
	 BBB 

	22534JAE7
	CAALT_16-3A      C 144A
	Hartford Life Insurance Company
	CRC
	CRC22534JAE7
	2,600,000
	2,600,000
	2,554,666
	2,554,666
	3.28
	 ABS 
	 Auto Loans 
	 A 
	 A 

	34530QAG5
	FORDO_15-A       C
	Hartford Life Insurance Company
	CRC
	CRC34530QAG5
	15,400,000
	15,400,000
	15,518,026
	15,518,026
	2.46
	 ABS 
	 Auto Loans 
	 Aaa 
	 AAA 

	637432MX0
	NATIONAL RURAL UTILITIES COOP FINA
	Hartford Life Insurance Company
	CRC
	CRC637432MX0
	7,000,000
	7,000,000
	7,053,522
	7,053,522
	2.00
	 Corporates 
	 Utilities 
	 A1 
	 A 

	32027NLA7
	FFML_04-FF7     M1
	Hartford Life Insurance Company
	CRC
	CRC32027NLA7
	5,490,000
	4,212,416
	4,024,905
	4,024,905
	2.96
	 ABS 
	 Home Equity 
	 BB 
	 BIG 

	BHM0M5QW4
	HTFD 1000 MAIN    PN Prvt
	Hartford Life Insurance Company
	CRC
	CRCBHM0M5QW4
	27,000,000
	27,000,000
	27,086,832
	27,086,832
	4.25
	 CML 
	 CML 
	 Aa3 
	 AA 

	80285CAH4
	SDART_16-2       C
	Hartford Life Insurance Company
	CRC
	CRC80285CAH4
	3,200,000
	3,200,000
	3,208,813
	3,208,813
	2.78
	 ABS 
	 Auto Loans 
	 A 
	 A 

	85208NAA8
	SPRINT SPECTRUM CO I/ II /III/ LLC 144A
	Hartford Life Insurance Company
	CRC
	CRC85208NAA8
	8,912,000
	8,912,000
	8,928,665
	8,928,665
	2.85
	 Corporates 
	 Industrials 
	 Baa2 
	 BBB 

	87246YAA4
	TIAA ASSET MANAGEMENT FINANCE COMP 144A
	Hartford Life Insurance Company
	LC2
	LC287246YAA4
	1,602,325
	1,602,325
	1,600,640
	1,629,983
	2.84
	 Corporates 
	 Financial 
	 BBB 
	 BBB 

	12545RAA5
	CIC CENTRAL AMERICAN CARD RECEIVAB Prvt
	Hartford Life Insurance Company
	CRC
	CRC12545RAA5
	20,000,000
	15,024,047
	15,127,435
	15,127,435
	2.03
	 EM 
	 EM 
	 A- 
	 A 

	455780BK1
	INDONESIA (REPUBLIC OF)    144A
	Hartford Life Insurance Company
	CRC
	CRC455780BK1
	2,200,000
	2,200,000
	2,208,232
	2,208,232
	5.32
	 EM 
	 EM 
	 Baa3 
	 BBB 

	512807AM0
	LAM RESEARCH CORPORATION
	Hartford Life Insurance Company
	CRC
	CRC512807AM0
	20,000,000
	20,000,000
	20,041,400
	20,041,400
	3.21
	 Corporates 
	 Industrials 
	 BBB 
	 BBB 

	75406EAD3
	RASC_06-KS4     A4
	Hartford Life Insurance Company
	LC2
	LC275406EAD3
	2,407,500
	1,777,455
	1,719,233
	1,737,121
	1.91
	 ABS 
	 Home Equity 
	 BBB 
	 BBB 

	00287YAR0
	ABBVIE INC
	Hartford Life Insurance Company
	LC2
	LC200287YAR0
	10,614,400
	10,614,400
	10,319,845
	10,428,935
	18.37
	 Corporates 
	 Industrial 
	 Baa2 
	 BBB 

	05565QCS5
	BP CAPITAL MARKETS PLC
	Hartford Life Insurance Company
	CRC
	CRC05565QCS5
	20,090,000
	20,090,000
	20,390,305
	20,390,305
	7.84
	 Corporates 
	 Industrials 
	 A2 
	 A 

	13056MAF4
	CRART_15-2       C
	Hartford Life Insurance Company
	CRC
	CRC13056MAF4
	3,000,000
	3,000,000
	3,042,648
	3,042,648
	2.79
	 ABS 
	 Auto Loans 
	 BBB 
	 BBB 

	30289HAE1
	FREMF_16-K55     B 144A
	Hartford Life Insurance Company
	CRC
	CRC30289HAE1
	3,000,000
	3,000,000
	2,951,730
	2,951,730
	9.28
	 CMBS 
	 CMBS 
	 BBB+ 
	 BBB 

	13056XAF0
	CRART_14-2       C
	Hartford Life Insurance Company
	CRC
	CRC13056XAF0
	1,595,000
	1,595,000
	1,609,999
	1,609,999
	1.71
	 ABS 
	 Auto Loans 
	 BBB+ 
	 BBB 

	912828S68
	TREASURY NOTE
	Hartford Life Insurance Company
	CRC
	CRC912828S68
	3,330,000
	3,330,000
	3,312,178
	3,312,178
	1.59
	 TSY 
	 TSY 
	 Govt 
	 govt 

	BHM03Z7L4
	HTFD LIT VIII P   PN Prvt
	Hartford Life Insurance Company
	CRC
	CRCBHM03Z7L4
	24,053,761
	23,444,451
	23,286,591
	23,286,591
	6.06
	 CML 
	 CML 
	 A1 
	 A 

	143127AG3
	CARMX_15-2       D
	Hartford Life Insurance Company
	CRC
	CRC143127AG3
	2,875,000
	2,875,000
	2,878,617
	2,878,617
	2.54
	 ABS 
	 Auto Loans 
	 Baa2 
	 BBB 

	
														
	92922F4R6
	WAMU_05-AR13  A1B2
	Hartford Life Insurance Company
	CRC
	CRC92922F4R6
	6,250,000
	2,585,355
	2,368,209
	2,368,209
	3.72
	 ABS 
	 Other ABS 
	 BB- 
	 BIG 

	92922F4R6
	WAMU_05-AR13  A1B2
	Hartford Life Insurance Company
	LC2
	LC292922F4R6
	2,701,750
	1,117,597
	1,021,511
	1,023,729
	3.72
	 ABS 
	 Other ABS 
	 BB- 
	 BIG 

	61691EBD6
	MSC_16-UB12     AS
	Hartford Life Insurance Company
	CRC
	CRC61691EBD6
	4,000,000
	4,000,000
	4,063,752
	4,063,752
	9.88
	 CMBS 
	 CMBS 
	 Aa3 
	 AA 

	65557CAQ6
	NORDEA BANK AB MTN 144A
	Hartford Life Insurance Company
	CRC
	CRC65557CAQ6
	6,045,000
	6,045,000
	6,042,020
	6,042,020
	1.71
	 Corporates 
	 Financials 
	 AA- 
	 AA 

	3137BJP64
	FHMS_K046       A2
	Hartford Life Insurance Company
	LC2
	LC23137BJP64
	1,337,500
	1,337,500
	1,366,769
	1,375,374
	8.18
	 CMBS 
	 CMBS Agency 
	 Agency 
	 Govt 

	12593ABD6
	COMM_15-CR23     B
	Hartford Life Insurance Company
	CRC
	CRC12593ABD6
	3,000,000
	3,000,000
	2,893,839
	2,893,839
	8.28
	 CMBS 
	 CMBS 
	 A1 
	 A 

	12593ABD6
	COMM_15-CR23     B
	Hartford Life Insurance Company
	LC2
	LC212593ABD6
	1,070,000
	1,070,000
	1,124,644
	1,032,136
	8.28
	 CMBS 
	 CMBS 
	 A1 
	 A 

	22534MAA8
	CAALT_16-2       A 144A
	Hartford Life Insurance Company
	CRC
	CRC22534MAA8
	3,650,000
	3,650,000
	3,645,927
	3,645,927
	1.89
	 ABS 
	 Auto Loans 
	 AAA 
	 AAA 

	931142DG5
	WAL-MART STORES INC
	Hartford Life Insurance Company
	LC2
	LC2931142DG5
	3,282,225
	3,282,225
	3,539,522
	3,297,235
	25.78
	 Corporates 
	 Industrial 
	 AA 
	 AA  

	49327M2N3
	KEYBANK NA/CLEVELAND OH
	Hartford Life Insurance Company
	CRC
	CRC49327M2N3
	10,000,000
	10,000,000
	10,057,460
	10,057,460
	2.19
	 Corporates 
	 Financials 
	 A- 
	 A 

	698525AA0
	PANOCHE ENERGY CENTER LLC  144A
	Hartford Life Insurance Company
	LC2
	LC2698525AA0
	10,700,000
	8,484,360
	8,484,360
	8,772,557
	7.34
	 Corporates 
	 Utilities 
	 Baa3 
	 BBB 

	961214CQ4
	WESTPAC BANKING CORP
	Hartford Life Insurance Company
	CRC
	CRC961214CQ4
	21,085,000
	21,085,000
	21,119,600
	21,119,600
	1.90
	 Corporates 
	 Financials 
	 AA- 
	 AA 

	912828R93
	TREASURY NOTE
	Hartford Life Insurance Company
	CRC
	CRC912828R93
	790,000
	790,000
	785,032
	785,032
	1.50
	 TSY 
	 TSY 
	 Govt 
	 govt 

	12636AAB0
	CPS_16-C         B 144A
	Hartford Life Insurance Company
	CRC
	CRC12636AAB0
	6,320,000
	6,320,000
	6,329,644
	6,329,644
	1.59
	 ABS 
	 Auto Loans 
	 AA 
	 AA 

	446438RR6
	HUNTINGTON NATIONAL BANK (THE)
	Hartford Life Insurance Company
	CRC
	CRC446438RR6
	12,040,000
	12,040,000
	12,074,073
	12,074,073
	1.76
	 Corporates 
	 Financials 
	 A3 
	 A 

	30293XAJ9
	FREMF_15-K51     B 144A
	Hartford Life Insurance Company
	LC2
	LC230293XAJ9
	1,605,000
	1,605,000
	1,432,672
	1,537,123
	8.74
	 CMBS 
	 CMBS 
	 BBB+ 
	 BBB 

	04541GTM4
	ABSHE_05-HE6    M3
	Hartford Life Insurance Company
	CRC
	CRC04541GTM4
	4,570,000
	4,570,000
	4,476,361
	4,476,361
	1.67
	 ABS 
	 Home Equity 
	 A 
	 A 

	174610AK1
	CITIZENS FINANCIAL GROUP INC
	Hartford Life Insurance Company
	CRC
	CRC174610AK1
	4,275,000
	4,275,000
	4,342,622
	4,342,622
	8.84
	 Corporates 
	 Financials 
	 BBB 
	 BBB 

	46642EAX4
	JPMBB_14-C21    A4
	Hartford Life Insurance Company
	LC2
	LC246642EAX4
	1,070,000
	1,070,000
	1,084,417
	1,102,653
	7.26
	 CMBS 
	 CMBS 
	 Aaa 
	 AAA 

	17401QAC5
	CITIZENS BANK NA/ PROVIDENCE RI MTN
	Hartford Life Insurance Company
	CRC
	CRC17401QAC5
	8,870,000
	8,870,000
	8,915,450
	8,915,450
	1.84
	 Corporates 
	 Financials 
	 BBB+ 
	 BBB 

	375558BC6
	GILEAD SCIENCES INC
	Hartford Life Insurance Company
	CRC
	CRC375558BC6
	9,800,000
	9,800,000
	10,003,125
	10,003,125
	5.67
	 Corporates 
	 Industrials 
	 A3 
	 A 

	718172BE8
	PHILIP MORRIS INTERNATIONAL INC
	Hartford Life Insurance Company
	CRC
	CRC718172BE8
	5,500,000
	5,500,000
	5,716,904
	5,716,904
	6.88
	 Corporates 
	 Industrials 
	 A 
	 A 

	03064VAE8
	AMCAR_14-2       C
	Hartford Life Insurance Company
	CRC
	CRC03064VAE8
	2,060,000
	2,060,000
	2,072,854
	2,072,854
	1.40
	 ABS 
	 Auto Loans 
	 Aaa 
	 AAA 

	34530KAE3
	FORDO_14-B       C
	Hartford Life Insurance Company
	CRC
	CRC34530KAE3
	2,000,000
	2,000,000
	2,010,568
	2,010,568
	1.63
	 ABS 
	 Auto Loans 
	 Aaa 
	 AAA 

	15136PAE9
	CECLO_13-17A   A2B 144A
	Hartford Life Insurance Company
	CRC
	CRC15136PAE9
	3,400,000
	3,400,000
	3,375,808
	3,375,808
	5.15
	 CLO 
	 CLO 
	 AA 
	 AA 

	31677QBD0
	FIFTH THIRD BANK MTN
	Hartford Life Insurance Company
	CRC
	CRC31677QBD0
	3,000,000
	3,000,000
	3,018,954
	3,018,954
	1.56
	 Corporates 
	 Financials 
	 A- 
	 A 

	17275RAV4
	CISCO SYSTEMS INC
	Hartford Life Insurance Company
	CRC
	CRC17275RAV4
	20,000,000
	20,000,000
	20,386,400
	20,386,400
	5.46
	 Corporates 
	 Industrials 
	 A1 
	 A 

	843646AK6
	SOUTHERN POWER COMPANY
	Hartford Life Insurance Company
	CRC
	CRC843646AK6
	6,327,000
	6,327,000
	6,298,263
	6,298,263
	1.42
	 Corporates 
	 Utilities 
	 BBB+ 
	 BBB 

	14149YBC1
	CARDINAL HEALTH INC
	Hartford Life Insurance Company
	CRC
	CRC14149YBC1
	4,235,000
	4,235,000
	4,244,207
	4,244,207
	1.46
	 Corporates 
	 Industrials 
	 BBB+ 
	 BBB 

	03064VAF5
	AMCAR_14-2       D
	Hartford Life Insurance Company
	CRC
	CRC03064VAF5
	2,400,000
	2,400,000
	2,410,226
	2,410,226
	2.00
	 ABS 
	 Auto Loans 
	 A 
	 A 

	126281BD5
	CSAIL_15-C1     AS
	Hartford Life Insurance Company
	LC2
	LC2126281BD5
	1,605,000
	1,605,000
	1,645,682
	1,640,854
	8.04
	 CMBS 
	 CMBS 
	 Aa2 
	 AA  

	
														
	805564RM5
	SAST_05-1       M1
	Hartford Life Insurance Company
	CRC
	CRC805564RM5
	5,000,000
	2,718,295
	2,615,016
	2,615,016
	2.44
	 ABS 
	 Home Equity 
	 B 
	 BIG 

	69352PAG8
	PPL CAPITAL FUNDING INC
	Hartford Life Insurance Company
	CRC
	CRC69352PAG8
	5,000,000
	5,000,000
	4,998,815
	4,998,815
	1.42
	 Corporates 
	 Utilities 
	 Baa2 
	 BBB 

	80556UAA1
	SAST_06-1       A1
	Hartford Life Insurance Company
	LC2
	LC280556UAA1
	105,208,820
	2,836,701
	2,824,602
	2,813,639
	0.78
	 ABS 
	 Home Equity 
	 A3 
	 A 

	06050TMC3
	BANK OF AMERICA NA
	Hartford Life Insurance Company
	CRC
	CRC06050TMC3
	25,000,000
	25,000,000
	24,998,950
	24,998,950
	1.43
	 Corporates 
	 Financials 
	 A+ 
	 A 

	32058FAL4
	FIAOT_14-1A      D 144A
	Hartford Life Insurance Company
	CRC
	CRC32058FAL4
	2,055,000
	2,055,000
	2,060,158
	2,060,158
	1.54
	 ABS 
	 Auto Loans 
	 BBB 
	 BBB 

	12590YAA4
	CPS_16-B         A 144A
	Hartford Life Insurance Company
	CRC
	CRC12590YAA4
	3,420,000
	2,413,325
	2,421,636
	2,421,636
	0.62
	 ABS 
	 Auto Loans 
	 AAA 
	 AAA 

	00764MGF8
	AABST_05-4     2A2
	Hartford Life Insurance Company
	LC2
	LC200764MGF8
	133,644,605
	4,524,258
	4,488,093
	4,472,383
	0.86
	 ABS 
	 Home Equity 
	 A+ 
	 A 

	03062AAF3
	AMCAR_14-3       C
	Hartford Life Insurance Company
	CRC
	CRC03062AAF3
	2,000,000
	2,000,000
	2,024,040
	2,024,040
	1.60
	 ABS 
	 Auto Loans 
	 Aaa 
	 AAA 

	17119XAF6
	CCART_14-AA      C 144A
	Hartford Life Insurance Company
	CRC
	CRC17119XAF6
	1,885,000
	1,885,000
	1,899,944
	1,899,944
	1.25
	 ABS 
	 Auto Loans 
	 Aaa 
	 AAA 

	14313RAG8
	CARMX_14-2       D
	Hartford Life Insurance Company
	CRC
	CRC14313RAG8
	4,670,000
	4,670,000
	4,674,404
	4,674,404
	1.46
	 ABS 
	 Auto Loans 
	 BBB 
	 BBB 

	166754AK7
	CHEVRON PHILLIPS CHEMICAL CO LLC 144A
	Hartford Life Insurance Company
	CRC
	CRC166754AK7
	27,300,000
	27,300,000
	27,302,867
	27,302,867
	1.34
	 Corporates 
	 Industrials 
	 A- 
	 A 

	22533WAE9
	CAALT_15-1A      C 144A
	Hartford Life Insurance Company
	CRC
	CRC22533WAE9
	2,250,000
	2,250,000
	2,236,631
	2,236,631
	1.54
	 ABS 
	 Auto Loans 
	 A 
	 A 

	268789AA2
	E.ON INTERNATIONAL FINANCE B.V. 144A
	Hartford Life Insurance Company
	CRC
	CRC268789AA2
	11,427,000
	11,427,000
	11,960,527
	11,960,527
	1.33
	 Corporates 
	 Utilities 
	 BBB+ 
	 BBB 

	31391UC52
	Freddie /Fannie Agency MBS
	Hartford Life Insurance Company
	CRC
	CRC31391UC52
	8,500,000
	20,740
	23,465
	23,465
	4.60
	 MBS 
	 MBS 
	 Govt 
	 govt 

	31400SZ93
	Freddie /Fannie Agency MBS
	Hartford Life Insurance Company
	CRC
	CRC31400SZ93
	9,500,000
	40,687
	41,208
	41,208
	0.42
	 MBS 
	 MBS 
	 Govt 
	 govt 

	60855RAG5
	MOLINA HEALTHCARE INC
	Hartford Life Insurance Company
	CRC
	CRC60855RAG5
	989,000
	989,000
	1,003,835
	1,003,835
	5.62
	 BIG Corporates 
	 HY Financials 
	 Ba3 
	 BIG 

	96042BAJ2
	WLAKE_16-2A      C 144A
	Hartford Life Insurance Company
	CRC
	CRC96042BAJ2
	2,450,000
	2,450,000
	2,455,562
	2,455,562
	1.93
	 ABS 
	 Auto Loans 
	 A 
	 A 

	92930RAE2
	WFRBS_12-C9      C
	Hartford Life Insurance Company
	CRC
	CRC92930RAE2
	7,819,000
	7,819,000
	7,929,381
	7,929,381
	5.79
	 CMBS 
	 CMBS 
	 A3 
	 A 

	64352VMU2
	NCHET_05-4      M1
	Hartford Life Insurance Company
	CRC
	CRC64352VMU2
	8,970,000
	4,696,843
	4,655,445
	4,655,445
	0.88
	 ABS 
	 Home Equity 
	 AA 
	 AA 

	13975KAF6
	AFIN_15-1        C
	Hartford Life Insurance Company
	LC2
	LC213975KAF6
	2,675,000
	2,675,000
	2,674,657
	2,710,569
	2.14
	 ABS 
	 Auto 
	 AA 
	 AA  

	81375WJF4
	SABR_06-OP1     M1
	Hartford Life Insurance Company
	CRC
	CRC81375WJF4
	2,900,000
	2,548,257
	2,496,486
	2,496,486
	1.05
	 ABS 
	 Home Equity 
	 A 
	 A 

	33843MAA1
	FCAT_16-1        A 144A
	Hartford Life Insurance Company
	CRC
	CRC33843MAA1
	2,725,000
	1,801,071
	1,814,516
	1,814,516
	0.97
	 ABS 
	 Auto Loans 
	 AA 
	 AA 

	91830MAJ5
	VNDO_13-PENN     C 144A
	Hartford Life Insurance Company
	CRC
	CRC91830MAJ5
	1,750,000
	1,750,000
	1,811,301
	1,811,301
	3.95
	 CMBS 
	 CMBS 
	 A- 
	 A 

	76110W3T1
	RASC_05-KS8     M3
	Hartford Life Insurance Company
	LC2
	LC276110W3T1
	1,872,500
	1,872,500
	1,786,452
	1,799,469
	2.93
	 ABS 
	 Home Equity 
	 BBB+ 
	 BBB 

	76112BWJ5
	RAMP_05-RZ2     M3
	Hartford Life Insurance Company
	LC2
	LC276112BWJ5
	1,241,200
	1,241,200
	1,214,743
	1,210,160
	1.24
	 ABS 
	 Home Equity 
	 A+ 
	 A 

	04541GUN0
	ABSHE_05-HE8    M1
	Hartford Life Insurance Company
	LC2
	LC204541GUN0
	1,902,781
	1,498,426
	1,481,633
	1,477,529
	0.93
	 ABS 
	 Home Equity 
	 Baa3 
	 BBB 

	00084DAG5
	ABN AMRO BANK NV  144A
	Hartford Life Insurance Company
	CRC
	CRC00084DAG5
	5,425,000
	5,425,000
	5,467,749
	5,467,749
	1.83
	 Corporates 
	 Financials 
	 A1 
	 A 

	80283NAG4
	SDART_14-1       D
	Hartford Life Insurance Company
	CRC
	CRC80283NAG4
	4,190,000
	4,190,000
	4,241,659
	4,241,659
	1.37
	 ABS 
	 Auto Loans 
	 AA 
	 AA 

	31394AGS9
	FNMA_04-54      FL
	Hartford Life Insurance Company
	CRC
	CRC31394AGS9
	29,392,593
	1,602,895
	1,603,639
	1,603,639
	3.91
	 MBS 
	 CMO Agency 
	 Agency 
	 Govt 

	59020UG90
	MLMI_05-AR1     M1
	Hartford Life Insurance Company
	LC2
	LC259020UG90
	3,076,250
	1,748,794
	1,650,469
	1,678,783
	2.59
	 ABS 
	 Home Equity 
	 BB 
	 BIG 

	126670EK0
	CWL_05-12       M1
	Hartford Life Insurance Company
	CRC
	CRC126670EK0
	2,750,000
	2,750,000
	2,629,946
	2,629,946
	1.80
	 ABS 
	 Home Equity 
	 Ba1 
	 BIG 

	
														
	681919AZ9
	OMNICOM GROUP INC
	Hartford Life Insurance Company
	CRC
	CRC681919AZ9
	4,762,000
	4,762,000
	4,890,626
	4,890,626
	5.34
	 Corporates 
	 Industrials 
	 Baa1 
	 BBB 

	718172AP4
	PHILIP MORRIS INTERNATIONAL INC
	Hartford Life Insurance Company
	LC2
	LC2718172AP4
	7,490,000
	7,490,000
	7,026,505
	7,642,991
	25.22
	 Corporates 
	 Industrial 
	 A 
	 A 

	02006WAG4
	ALLYA_14-2       D
	Hartford Life Insurance Company
	CRC
	CRC02006WAG4
	8,565,000
	8,565,000
	8,684,054
	8,684,054
	1.54
	 ABS 
	 Auto Loans 
	 Aa3 
	 AA 

	89641UAC5
	TRINITY ACQUISITION PLC
	Hartford Life Insurance Company
	CRC
	CRC89641UAC5
	4,655,000
	4,655,000
	4,712,042
	4,712,042
	8.96
	 Corporates 
	 Financials 
	 BBB 
	 BBB 

	86358EUV6
	SAIL_05-HE1     M1
	Hartford Life Insurance Company
	LC2
	LC286358EUV6
	5,558,650
	2,563,270
	2,465,903
	2,521,233
	1.72
	 ABS 
	 Home Equity 
	 A2 
	 A 

	02155FAA3
	ALTICE US FIN I CORP       144A
	Hartford Life Insurance Company
	CRC
	CRC02155FAA3
	1,689,000
	1,689,000
	1,752,338
	1,752,338
	4.54
	 BIG Corporates 
	 HY Industrials 
	 Ba3 
	 BIG 

	02155FAA3
	ALTICE US FIN I CORP       144A
	Hartford Life Insurance Company
	LC2
	LC202155FAA3
	1,932,000
	1,932,000
	2,008,635
	2,004,450
	4.54
	 BIG Corporates 
	 HY Industrials 
	 Ba3 
	 BIG 

	03072SJ89
	AMSI_05-R7      M1
	Hartford Life Insurance Company
	LC2
	LC203072SJ89
	1,605,000
	1,506,323
	1,476,540
	1,495,873
	1.15
	 ABS 
	 Home Equity 
	 A 
	 A 

	61748HKZ3
	MSM_05-5AR     1A4
	Hartford Life Insurance Company
	CRC
	CRC61748HKZ3
	5,910,000
	2,196,401
	2,161,858
	2,161,858
	1.11
	 ABS 
	 Home Equity 
	 A1 
	 A 

	33843NAC5
	FCAT_16-2       A2 144A
	Hartford Life Insurance Company
	CRC
	CRC33843NAC5
	6,880,000
	6,880,000
	6,924,527
	6,924,527
	1.80
	 ABS 
	 Auto Loans 
	 AA 
	 AA 

	3138E0Q93
	Freddie /Fannie Agency MBS
	Hartford Life Insurance Company
	CRC
	CRC3138E0Q93
	27,000
	15,969
	16,470
	16,470
	8.05
	 MBS 
	 MBS 
	 Govt 
	 govt 

	BHM0KL7W2
	ELECTRIC TRANSMISSION TEXAS LLC Prvt
	Hartford Life Insurance Company
	CRC
	CRCBHM0KL7W2
	5,000,000
	5,000,000
	5,109,200
	5,109,200
	1.49
	 Corporates 
	 Utilities 
	 Baa1 
	 BBB 

	753910AD0
	RASC_05-KS12    M1
	Hartford Life Insurance Company
	LC2
	LC2753910AD0
	4,547,500
	4,547,500
	4,387,128
	4,387,633
	2.11
	 ABS 
	 Home Equity 
	 BB+ 
	 BIG 

	12590YAB2
	CPS_16-B         B 144A
	Hartford Life Insurance Company
	CRC
	CRC12590YAB2
	3,000,000
	3,000,000
	3,039,957
	3,039,957
	1.58
	 ABS 
	 Auto Loans 
	 AA- 
	 AA 

	BHM0M48Q0
	HTFD FAIRWAY GL   PN Prvt
	Hartford Life Insurance Company
	CRC
	CRCBHM0M48Q0
	13,700,000
	13,700,000
	13,642,071
	13,642,071
	5.11
	 CML 
	 CML 
	 A2 
	 A 

	BHM0M24H8
	WEIR GROUP PLC    Prvt
	Hartford Life Insurance Company
	CRC
	CRCBHM0M24H8
	3,000,000
	3,000,000
	3,048,270
	3,048,270
	2.13
	 Corporates 
	 Industrials 
	 Baa3 
	 BBB 

	3138EHP30
	Freddie /Fannie Agency MBS
	Hartford Life Insurance Company
	CRC
	CRC3138EHP30
	435,541
	246,034
	253,775
	253,775
	8.05
	 MBS 
	 MBS 
	 Govt 
	 govt 

	06051GFH7
	BANK OF AMERICA CORP MTN
	Hartford Life Insurance Company
	CRC
	CRC06051GFH7
	6,805,000
	6,805,000
	6,932,281
	6,932,281
	7.66
	 Corporates 
	 Financials 
	 BBB 
	 BBB 

	87155MAC5
	SYMP_07-5A      A2 144A
	Hartford Life Insurance Company
	LC2
	LC287155MAC5
	856,000
	856,000
	848,643
	853,138
	4.45
	 CLO 
	 CLO 
	 Aa1 
	 AA  

	96042CAL5
	WLAKE_15-2A      D 144A
	Hartford Life Insurance Company
	CRC
	CRC96042CAL5
	2,150,000
	2,150,000
	2,157,854
	2,157,854
	1.50
	 ABS 
	 Auto Loans 
	 A- 
	 A 

	3137BLAC2
	FHMS_K048       A2
	Hartford Life Insurance Company
	LC2
	LC23137BLAC2
	1,070,000
	1,070,000
	1,099,692
	1,105,546
	8.32
	 CMBS 
	 CMBS Agency 
	 Agency 
	 Govt 

	260543CL5
	DOW CHEMICAL COMPANY (THE)
	Hartford Life Insurance Company
	LC2
	LC2260543CL5
	6,709,435
	6,709,435
	6,306,795
	6,732,462
	27.25
	 Corporates 
	 Industrial 
	 BBB 
	 BBB 

	35729PHM5
	FHLT_05-A       M2
	Hartford Life Insurance Company
	LC2
	LC235729PHM5
	8,025,000
	1,975,672
	1,975,672
	1,956,387
	1.03
	 ABS 
	 Home Equity 
	 BBB+ 
	 BBB 

	87243BAB5
	BOARDWALK PIPELINES LP
	Hartford Life Insurance Company
	CRC
	CRC87243BAB5
	5,000,000
	5,000,000
	5,176,735
	5,176,735
	1.42
	 Corporates 
	 Industrials 
	 BBB- 
	 BBB 

	90131HAL9
	21ST CENTURY FOX AMERICA INC
	Hartford Life Insurance Company
	LC2
	LC290131HAL9
	5,965,250
	5,965,250
	5,927,431
	6,394,557
	1.38
	 Corporates 
	 Industrial 
	 BBB+ 
	 BBB 

	32027NRD5
	FFML_05-FF4     M2
	Hartford Life Insurance Company
	CRC
	CRC32027NRD5
	2,000,000
	1,861,376
	1,832,013
	1,832,013
	1.26
	 ABS 
	 Home Equity 
	 A 
	 A 

	456606GU0
	INABS_05-B      M2
	Hartford Life Insurance Company
	LC2
	LC2456606GU0
	2,922,098
	2,870,782
	2,697,612
	2,825,587
	1.15
	 ABS 
	 Home Equity 
	 A 
	 A 

	25272KAA1
	DIAMOND 1 FINANCE CORPORATION/DIAM 144A
	Hartford Life Insurance Company
	CRC
	CRC25272KAA1
	18,019,000
	18,019,000
	18,393,903
	18,393,903
	2.42
	 Corporates 
	 Industrials 
	 BBB- 
	 BBB 

	BHM0LTJW1
	HTFD MONARCH AT   PN Prvt
	Hartford Life Insurance Company
	CRC
	CRCBHM0LTJW1
	8,000,000
	8,000,000
	8,066,104
	8,066,104
	2.09
	 CML 
	 CML 
	 A1 
	 A 

	BHM0MN8Z8
	HTFD GAEDEKE PO   PN Prvt
	Hartford Life Insurance Company
	LC2
	LC2BHM0MN8Z8
	20,000,000
	19,945,287
	19,945,287
	20,023,111
	9.62
	 CML 
	 CML 
	 A2 
	 A 

	17291EAY7
	CGCMT_16-P6     AS
	Hartford Life Insurance Company
	CRC
	CRC17291EAY7
	2,160,000
	2,160,000
	2,215,944
	2,215,944
	9.86
	 CMBS 
	 CMBS 
	 Aa2 
	 AA 

	
														
	202712AG0
	COMMONWEALTH BANK OF AUSTRALIA 144A
	Hartford Life Insurance Company
	CRC
	CRC202712AG0
	8,670,000
	8,670,000
	8,968,361
	8,968,361
	1.46
	 Corporates 
	 Financials 
	 A2 
	 A 

	29445FBH0
	EMLT_04-2       M1
	Hartford Life Insurance Company
	CRC
	CRC29445FBH0
	4,000,000
	2,545,727
	2,493,123
	2,493,123
	1.04
	 ABS 
	 Home Equity 
	 Baa1 
	 BBB 

	29445FBH0
	EMLT_04-2       M1
	Hartford Life Insurance Company
	LC2
	LC229445FBH0
	2,140,000
	1,361,964
	1,343,383
	1,333,821
	1.04
	 ABS 
	 Home Equity 
	 Baa1 
	 BBB 

	03062AAG1
	AMCAR_14-3       D
	Hartford Life Insurance Company
	CRC
	CRC03062AAG1
	5,705,000
	5,705,000
	5,794,574
	5,794,574
	2.18
	 ABS 
	 Auto Loans 
	 AA- 
	 AA 

	65536HBE7
	NHELI_05-HE1    M3
	Hartford Life Insurance Company
	LC2
	LC265536HBE7
	1,177,000
	1,177,000
	1,161,374
	1,149,231
	1.31
	 ABS 
	 Home Equity 
	 Aa3 
	 AA  

	30290MAN7
	FREMF_12-K19     B 144A
	Hartford Life Insurance Company
	CRC
	CRC30290MAN7
	5,000,000
	5,000,000
	5,211,265
	5,211,265
	5.24
	 CMBS 
	 CMBS 
	 A 
	 A 

	57629WBV1
	MASSMUTUAL GLOBAL FUNDING II 144A
	Hartford Life Insurance Company
	CRC
	CRC57629WBV1
	9,560,000
	9,560,000
	9,796,447
	9,796,447
	7.28
	 Corporates 
	 Financials 
	 AA+ 
	 AA 

	30711XAE4
	CAS_14-C02     1M1
	Hartford Life Insurance Company
	LC2
	LC230711XAE4
	7,329,500
	3,114,156
	3,114,156
	3,120,938
	1.54
	 MBS 
	 CMO Non Agency 
	 A- 
	 A 

	36179RBX6
	Ginnie Agency MBS
	Hartford Life Insurance Company
	CRC
	CRC36179RBX6
	403,000
	281,782
	293,215
	293,215
	6.37
	 MBS 
	 MBS 
	 Govt 
	 govt 

	87246YAC0
	TIAA ASSET MANAGEMENT FINANCE COMP 144A
	Hartford Life Insurance Company
	CRC
	CRC87246YAC0
	19,525,000
	19,525,000
	19,720,914
	19,720,914
	7.84
	 Corporates 
	 Financials 
	 BBB 
	 BBB 

	35729PJE1
	FHLT_05-1       M4
	Hartford Life Insurance Company
	LC2
	LC235729PJE1
	2,140,000
	2,140,000
	1,928,499
	2,087,773
	1.32
	 ABS 
	 Home Equity 
	 Ba2 
	 BIG 

	004421MF7
	ACE_05-HE2      M4
	Hartford Life Insurance Company
	CRC
	CRC004421MF7
	2,000,000
	2,000,000
	1,963,500
	1,963,500
	1.83
	 ABS 
	 Home Equity 
	 BBB 
	 BBB 

	17307GSL3
	CMLTI_05-OPT3   M3
	Hartford Life Insurance Company
	LC2
	LC217307GSL3
	1,954,355
	1,954,355
	1,786,958
	1,855,506
	2.45
	 ABS 
	 Home Equity 
	 BB+ 
	 BIG 

	61746BDJ2
	MORGAN STANLEY
	Hartford Life Insurance Company
	CRC
	CRC61746BDJ2
	23,560,000
	23,560,000
	24,199,513
	24,199,513
	6.15
	 Corporates 
	 Financials 
	 A3 
	 A 

	03065NAG0
	AMCAR_15-3       D
	Hartford Life Insurance Company
	CRC
	CRC03065NAG0
	1,715,000
	1,715,000
	1,738,266
	1,738,266
	3.00
	 ABS 
	 Auto Loans 
	 BBB 
	 BBB 

	026874DE4
	AMERICAN INTERNATIONAL GROUP INC
	Hartford Life Insurance Company
	LC2
	LC2026874DE4
	12,947,000
	12,947,000
	12,898,356
	13,418,543
	18.03
	 Corporates 
	 Financial 
	 BBB+ 
	 BBB 

	46639NAV3
	JPMBB_13-C12     B
	Hartford Life Insurance Company
	CRC
	CRC46639NAV3
	2,920,000
	2,920,000
	3,034,765
	3,034,765
	6.46
	 CMBS 
	 CMBS 
	 Aa3 
	 AA 

	70069FCW5
	PPSI_04-MHQ1    M2
	Hartford Life Insurance Company
	LC2
	LC270069FCW5
	20,848,950
	9,493,289
	9,115,950
	9,463,575
	1.01
	 ABS 
	 Home Equity 
	 A 
	 A 

	BHM0LBU80
	ECOLAB INC.       Prvt
	Hartford Life Insurance Company
	CRC
	CRCBHM0LBU80
	8,000,000
	8,000,000
	8,200,960
	8,200,960
	1.89
	 Corporates 
	 Industrials 
	 Baa1 
	 BBB 

	125581GS1
	CIT GROUP INC
	Hartford Life Insurance Company
	CRC
	CRC125581GS1
	2,090,000
	2,090,000
	2,134,413
	2,134,413
	2.14
	 BIG Corporates 
	 HY Financials 
	 BB+ 
	 BIG 

	61766CAL3
	MSC_16-UBS9      C
	Hartford Life Insurance Company
	LC2
	LC261766CAL3
	1,284,000
	1,284,000
	1,188,434
	1,263,068
	9.13
	 CMBS 
	 CMBS 
	 A- 
	 A 

	78442FEH7
	SLM CORP MTN
	Hartford Life Insurance Company
	CRC
	CRC78442FEH7
	1,359,000
	1,359,000
	1,464,323
	1,464,323
	1.46
	 BIG Corporates 
	 HY Financials 
	 BB- 
	 BIG 

	12637UBA6
	CSAIL_16-C7     AS
	Hartford Life Insurance Company
	CRC
	CRC12637UBA6
	2,400,000
	2,400,000
	2,405,803
	2,405,803
	9.79
	 CMBS 
	 CMBS 
	 Aa3 
	 AA 

	31396XAL8
	FNMA_07-81      AF
	Hartford Life Insurance Company
	CRC
	CRC31396XAL8
	23,575,000
	1,609,442
	1,610,225
	1,610,225
	4.98
	 MBS 
	 CMO Agency 
	 Agency 
	 Govt 

	03072SRX5
	AMSI_04-R5      M1
	Hartford Life Insurance Company
	CRC
	CRC03072SRX5
	6,355,000
	2,915,658
	2,675,676
	2,675,676
	4.71
	 ABS 
	 Home Equity 
	 B1 
	 BIG 

	03072STZ8
	AMSI_04-R8      M1
	Hartford Life Insurance Company
	CRC
	CRC03072STZ8
	4,000,000
	2,507,209
	2,495,057
	2,495,057
	1.50
	 ABS 
	 Home Equity 
	 Baa1 
	 BBB 

	91412GXE0
	UNIVERSITY CALIF REVS FOR PREV
	Hartford Life Insurance Company
	LC2
	LC291412GXE0
	4,280,000
	4,280,000
	4,293,219
	4,238,270
	18.05
	 Corporates 
	 Tax Muni 
	 AA 
	 AA  

	BHM0J37X2
	HEINEKEN N.V.     Prvt
	Hartford Life Insurance Company
	CRC
	CRCBHM0J37X2
	24,000,000
	24,000,000
	24,902,160
	24,902,160
	1.63
	 Corporates 
	 Industrials 
	 Baa1 
	 BBB 

	30711XAA2
	CAS_13-C01      M1
	Hartford Life Insurance Company
	LC2
	LC230711XAA2
	9,605,925
	3,245,391
	3,266,549
	3,272,072
	1.27
	 MBS 
	 CMO Non Agency 
	 A 
	 A 

	BHM0LDDB0
	HTFD 11850 RIVE   PN Prvt
	Hartford Life Insurance Company
	CRC
	CRCBHM0LDDB0
	17,250,000
	16,439,727
	16,641,436
	16,641,436
	2.28
	 CML 
	 CML 
	 A2 
	 A 

	91830MAG1
	VNDO_13-PENN     B 144A
	Hartford Life Insurance Company
	CRC
	CRC91830MAG1
	2,000,000
	2,000,000
	2,091,992
	2,091,992
	3.95
	 CMBS 
	 CMBS 
	 AA- 
	 AA 

	
														
	59748TAA7
	MIDLAND COGENERATION VENTURE LP 144A
	Hartford Life Insurance Company
	CRC
	CRC59748TAA7
	7,000,000
	5,494,258
	5,815,139
	5,815,139
	4.68
	 Corporates 
	 Utilities 
	 BBB- 
	 BBB 

	83162CVV2
	SBAP_13-20J      1
	Hartford Life Insurance Company
	CRC
	CRC83162CVV2
	2,000,000
	1,595,035
	1,646,413
	1,646,413
	4.94
	 Agency 
	 SBA 
	 Govt 
	 govt 

	02005NAR1
	ALLY FINANCIAL INC
	Hartford Life Insurance Company
	CRC
	CRC02005NAR1
	1,495,000
	1,495,000
	1,539,850
	1,539,850
	1.69
	 BIG Corporates 
	 HY Financials 
	 BB+ 
	 BIG 

	494550BK1
	KINDER MORGAN ENERGY PARTNERS L.P.
	Hartford Life Insurance Company
	LC2
	LC2494550BK1
	2,675,000
	2,675,000
	2,662,898
	2,686,719
	24.67
	 Corporates 
	 Industrial 
	 BBB- 
	 BBB 

	00764MCS4
	AABST_04-4     A2B
	Hartford Life Insurance Company
	LC2
	LC200764MCS4
	12,658,100
	1,386,624
	1,386,624
	1,380,944
	1.10
	 ABS 
	 Home Equity 
	 AA- 
	 AA  

	61691GAV2
	MSBAM_16-C32    AS
	Hartford Life Insurance Company
	CRC
	CRC61691GAV2
	2,655,720
	2,655,720
	2,718,613
	2,718,613
	9.96
	 CMBS 
	 CMBS 
	 Aa1 
	 AA 

	36192BAY3
	GSMS_12-GC6     A3
	Hartford Life Insurance Company
	LC2
	LC236192BAY3
	3,081,600
	3,070,006
	3,093,979
	3,212,915
	4.68
	 CMBS 
	 CMBS 
	 Aaa 
	 AAA 

	12626BAU8
	COMM_13-CR10     C 144A
	Hartford Life Insurance Company
	CRC
	CRC12626BAU8
	2,000,000
	2,000,000
	2,054,688
	2,054,688
	6.61
	 CMBS 
	 CMBS 
	 A3 
	 A 

	95000JAX6
	WFCM_16-LC25    AS
	Hartford Life Insurance Company
	CRC
	CRC95000JAX6
	5,200,000
	5,200,000
	5,289,539
	5,289,539
	9.88
	 CMBS 
	 CMBS 
	 Aa2 
	 AA 

	42770XAC1
	HERO_16-3A      A2 144A
	Hartford Life Insurance Company
	LC2
	LC242770XAC1
	5,366,050
	5,181,311
	5,297,891
	5,297,891
	4.94
	 ABS 
	 Other ABS 
	 Aa2 
	 AA  

	404121AF2
	HCA INC
	Hartford Life Insurance Company
	CRC
	CRC404121AF2
	1,119,000
	1,119,000
	1,145,576
	1,145,576
	6.34
	 BIG Corporates 
	 HY Industrials 
	 BB+ 
	 BIG 

	21987DAD6
	CORPORACION FINANCIERA DE DESARROL 144A
	Hartford Life Insurance Company
	CRC
	CRC21987DAD6
	1,000,000
	1,000,000
	1,041,250
	1,041,250
	8.54
	 EM 
	 EM 
	 BBB+ 
	 BBB 

	32008DAA4
	FIRST DATA CORPORATION     144A
	Hartford Life Insurance Company
	CRC
	CRC32008DAA4
	2,081,000
	2,081,000
	2,092,071
	2,092,071
	4.04
	 BIG Corporates 
	 HY Industrials 
	 BB 
	 BIG 

	361841AH2
	GLP CAPITAL LP / GLP FINANCING II
	Hartford Life Insurance Company
	CRC
	CRC361841AH2
	1,306,000
	1,306,000
	1,362,027
	1,362,027
	9.29
	 BIG Corporates 
	 HY Industrials 
	 Ba1 
	 BIG 

	466112AF6
	JBS USA LLC/JBS USA FINANCE INC 144A
	Hartford Life Insurance Company
	CRC
	CRC466112AF6
	1,251,000
	1,251,000
	1,294,798
	1,294,798
	0.46
	 BIG Corporates 
	 HY Industrials 
	 BB 
	 BIG 

	760942BB7
	REPUBLICA ORIENT URUGUAY
	Hartford Life Insurance Company
	CRC
	CRC760942BB7
	1,210,000
	1,210,000
	1,213,086
	1,213,086
	9.83
	 EM 
	 EM 
	 Baa2 
	 BBB 

	80282KAE6
	SANTANDER HOLDINGS USA INC
	Hartford Life Insurance Company
	CRC
	CRC80282KAE6
	4,515,000
	4,515,000
	4,486,763
	4,486,763
	8.55
	 Corporates 
	 Financials 
	 Baa3 
	 BBB 

	20030NBQ3
	COMCAST CORP
	Hartford Life Insurance Company
	LC2
	LC220030NBQ3
	1,618,375
	1,618,375
	1,617,192
	1,696,491
	28.13
	 Corporates 
	 Industrial 
	 A- 
	 A 

	30711XAC8
	CAS_14-C01      M1
	Hartford Life Insurance Company
	LC2
	LC230711XAC8
	5,505,150
	2,303,685
	2,303,685
	2,315,752
	1.69
	 MBS 
	 CMO Non Agency 
	 A- 
	 A 

	54627RAG5
	LCDA_10-EGSL    A3
	Hartford Life Insurance Company
	CRC
	CRC54627RAG5
	7,000,000
	7,000,000
	7,366,030
	7,366,030
	3.95
	 ABS 
	 Other ABS 
	 AAA 
	 AAA 

	BHM0KTYD7
	HTFD HARVARD PL   PN Prvt
	Hartford Life Insurance Company
	CRC
	CRCBHM0KTYD7
	20,000,000
	18,110,809
	18,411,805
	18,411,805
	4.48
	 CML 
	 CML 
	 A1 
	 A 

	12624KAF3
	COMM_12-CR2     AM
	Hartford Life Insurance Company
	CRC
	CRC12624KAF3
	2,590,000
	2,590,000
	2,704,434
	2,704,434
	5.54
	 CMBS 
	 CMBS 
	 Aaa 
	 AAA 

	31298FJL7
	Govt
	Hartford Life Insurance Company
	LC2
	LC231298FJL7
	525,778
	5,818
	5,782
	5,893
	4.00
	 MBS 
	 MBS 
	 Govt 
	 Govt 

	94981PAJ9
	WFHET_05-2      M6
	Hartford Life Insurance Company
	CRC
	CRC94981PAJ9
	1,700,000
	1,700,000
	1,616,828
	1,616,828
	4.28
	 ABS 
	 Home Equity 
	 BBB+ 
	 BBB 

	83162CTR4
	SBAP_10-20K      1
	Hartford Life Insurance Company
	CRC
	CRC83162CTR4
	13,000,000
	7,248,101
	7,465,761
	7,465,761
	3.68
	 Agency 
	 SBA 
	 Govt 
	 govt 

	BHM0KTYC9
	HTFD CORONA DEL   PN Prvt
	Hartford Life Insurance Company
	CRC
	CRCBHM0KTYC9
	20,000,000
	18,110,809
	18,441,894
	18,441,894
	4.48
	 CML 
	 CML 
	 A1 
	 A 

	198280AF6
	COLUMBIA PIPELINE GROUP INC
	Hartford Life Insurance Company
	CRC
	CRC198280AF6
	22,500,000
	22,500,000
	23,637,825
	23,637,825
	8.17
	 Corporates 
	 Industrials 
	 BBB+ 
	 BBB 

	33843MAC7
	FCAT_16-1        B 144A
	Hartford Life Insurance Company
	CRC
	CRC33843MAC7
	6,140,000
	6,140,000
	6,267,030
	6,267,030
	2.56
	 ABS 
	 Auto Loans 
	 A 
	 A 

	33843NAE1
	FCAT_16-2        B 144A
	Hartford Life Insurance Company
	CRC
	CRC33843NAE1
	1,965,000
	1,965,000
	2,000,830
	2,000,830
	2.80
	 ABS 
	 Auto Loans 
	 A 
	 A 

	22534MAE0
	CAALT_16-2       C 144A
	Hartford Life Insurance Company
	CRC
	CRC22534MAE0
	2,850,000
	2,850,000
	2,839,025
	2,839,025
	2.86
	 ABS 
	 Auto Loans 
	 A 
	 A 

	313614XS3
	Freddie /Fannie Agency MBS
	Hartford Life Insurance Company
	CRC
	CRC313614XS3
	16,171,101
	2,317
	2,462
	2,462
	2.89
	 MBS 
	 MBS 
	 Govt 
	 govt 

	
														
	78573NAA0
	SABRE GLBL INC    144A
	Hartford Life Insurance Company
	CRC
	CRC78573NAA0
	1,043,000
	1,043,000
	1,063,860
	1,063,860
	4.29
	 BIG Corporates 
	 HY Industrials 
	 BB- 
	 BIG 

	83162CUE1
	SBAP_11-20H      1
	Hartford Life Insurance Company
	CRC
	CRC83162CUE1
	9,601,000
	5,737,813
	5,871,780
	5,871,780
	3.86
	 Agency 
	 SBA 
	 Govt 
	 govt 

	46625YJN4
	JPMCC_05-CB11      D
	Hartford Life Insurance Company
	LC2
	LC246625YJN4
	2,675,000
	2,675,000
	2,376,604
	2,813,330
	2.88
	 CMBS 
	 CMBS 
	 A 
	 A 

	345397WF6
	FORD MOTOR CREDIT CO LLC
	Hartford Life Insurance Company
	CRC
	CRC345397WF6
	6,105,000
	6,105,000
	6,289,902
	6,289,902
	5.72
	 Corporates 
	 Industrials 
	 BBB 
	 BBB 

	641423BW7
	NEVADA POWER COMPANY
	Hartford Life Insurance Company
	CRC
	CRC641423BW7
	5,444,000
	5,444,000
	5,853,890
	5,853,890
	1.59
	 Corporates 
	 Utilities 
	 A2 
	 A 

	95000AAU1
	WFCM_15-P2      A4
	Hartford Life Insurance Company
	LC2
	LC295000AAU1
	1,337,500
	1,337,500
	1,374,046
	1,396,928
	8.89
	 CMBS 
	 CMBS 
	 Aaa 
	 AAA 

	BHM0L66Z8
	HTFD GRI-REGENC   PN Prvt
	Hartford Life Insurance Company
	CRC
	CRCBHM0L66Z8
	12,600,000
	11,827,352
	12,021,535
	12,021,535
	5.03
	 CML 
	 CML 
	 A1 
	 A 

	96042BAL7
	WLAKE_16-2A      D 144A
	Hartford Life Insurance Company
	CRC
	CRC96042BAL7
	1,700,000
	1,700,000
	1,706,817
	1,706,817
	2.59
	 ABS 
	 Auto Loans 
	 BBB 
	 BBB 

	12590YAC0
	CPS_16-B         C 144A
	Hartford Life Insurance Company
	CRC
	CRC12590YAC0
	5,705,000
	5,705,000
	5,827,081
	5,827,081
	2.47
	 ABS 
	 Auto Loans 
	 A- 
	 A 

	47010BAA2
	JAGUAR LAND ROVER PLC      144A
	Hartford Life Insurance Company
	CRC
	CRC47010BAA2
	1,206,000
	1,206,000
	1,257,255
	1,257,255
	1.09
	 BIG Corporates 
	 HY Industrials 
	 BB+ 
	 BIG 

	25466AAD3
	DISCOVER BANK
	Hartford Life Insurance Company
	CRC
	CRC25466AAD3
	14,345,000
	14,345,000
	14,945,066
	14,945,066
	6.61
	 Corporates 
	 Financials 
	 BBB 
	 BBB 

	12527DAF7
	CFCRE_11-C2      D 144A
	Hartford Life Insurance Company
	CRC
	CRC12527DAF7
	5,000,000
	5,000,000
	5,252,295
	5,252,295
	4.88
	 CMBS 
	 CMBS 
	 BBB+ 
	 BBB 

	02209SAS2
	ALTRIA GROUP INC.
	Hartford Life Insurance Company
	CRC
	CRC02209SAS2
	10,000,000
	10,000,000
	10,566,170
	10,566,170
	7.08
	 Corporates 
	 Industrials 
	 A3 
	 A 

	55342UAE4
	MPT OPERATING PARTNERSHIP LP / MPT
	Hartford Life Insurance Company
	CRC
	CRC55342UAE4
	991,000
	991,000
	1,000,910
	1,000,910
	5.34
	 BIG Corporates 
	 HY Financials 
	 Ba1 
	 BIG 

	748767AF7
	QUINTILES TRANSNATIONAL    144A
	Hartford Life Insurance Company
	CRC
	CRC748767AF7
	1,201,000
	1,201,000
	1,219,015
	1,219,015
	4.38
	 BIG Corporates 
	 HY Industrials 
	 Ba3 
	 BIG 

	05565QCP1
	BP CAPITAL MARKETS PLC
	Hartford Life Insurance Company
	CRC
	CRC05565QCP1
	5,000,000
	5,000,000
	5,194,320
	5,194,320
	7.11
	 Corporates 
	 Industrials 
	 A2 
	 A 

	36223E7F5
	Ginnie Agency MBS
	Hartford Life Insurance Company
	CRC
	CRC36223E7F5
	7,735,000
	10,235
	10,425
	10,425
	3.63
	 MBS 
	 MBS 
	 Govt 
	 govt 

	03040WAK1
	AMERICAN WATER CAPITAL CORP
	Hartford Life Insurance Company
	CRC
	CRC03040WAK1
	5,000,000
	5,000,000
	5,268,475
	5,268,475
	6.92
	 Corporates 
	 Utilities 
	 A3 
	 A 

	BHM0L6753
	HTFD GRI-REGENC   PN Prvt
	Hartford Life Insurance Company
	CRC
	CRCBHM0L6753
	9,400,000
	8,823,580
	9,057,570
	9,057,570
	5.03
	 CML 
	 CML 
	 A1 
	 A 

	BHM0KQZY6
	HTFD PARK 277 I   PN Prvt
	Hartford Life Insurance Company
	LC2
	LC2BHM0KQZY6
	25,000,000
	25,000,000
	25,000,000
	25,611,358
	4.59
	 CML 
	 CML 
	 Aa3 
	 AA  

	12625CAL7
	COMM_13-WWP      C 144A
	Hartford Life Insurance Company
	LC2
	LC212625CAL7
	1,337,500
	1,337,500
	1,386,113
	1,337,178
	6.19
	 CMBS 
	 CMBS 
	 A- 
	 A 

	3137G0AX7
	STACR_14-DN2    M2
	Hartford Life Insurance Company
	CRC
	CRC3137G0AX7
	3,750,000
	3,319,883
	3,347,113
	3,347,113
	2.35
	 MBS 
	 CMO Non-Agency 
	 BBB+ 
	 BBB 

	552081AG6
	LYONDELLBASELL INDUSTRIES NV
	Hartford Life Insurance Company
	CRC
	CRC552081AG6
	7,662,000
	7,662,000
	8,096,068
	8,096,068
	2.04
	 Corporates 
	 Industrials 
	 BBB 
	 BBB 

	94973BAA9
	WELLS ENTERPRISES INC      144A
	Hartford Life Insurance Company
	CRC
	CRC94973BAA9
	1,300,000
	1,300,000
	1,342,250
	1,342,250
	2.09
	 BIG Corporates 
	 HY Industrials 
	 B2 
	 BIG 

	05357HAA8
	AVMT_13-AVM      A 144A
	Hartford Life Insurance Company
	CRC
	CRC05357HAA8
	7,800,000
	7,800,000
	8,195,881
	8,195,881
	3.93
	 CMBS 
	 CMBS 
	 Aaa 
	 AAA 

	313401U25
	Freddie /Fannie Agency MBS
	Hartford Life Insurance Company
	CRC
	CRC313401U25
	55,596,512
	7,791
	8,249
	8,249
	3.07
	 MBS 
	 MBS 
	 Govt 
	 govt 

	775109AK7
	ROGERS COMMUNICATIONS INC.
	Hartford Life Insurance Company
	CRC
	CRC775109AK7
	4,130,000
	4,130,000
	4,453,160
	4,453,160
	1.63
	 Corporates 
	 Industrials 
	 BBB+ 
	 BBB 

	46590KAE4
	JPMCC_15-JP1    A5
	Hartford Life Insurance Company
	LC2
	LC246590KAE4
	1,712,000
	1,712,000
	1,758,908
	1,804,571
	8.89
	 CMBS 
	 CMBS 
	 Aaa 
	 AAA 

	542514JL9
	LBMLT_04-6      A3
	Hartford Life Insurance Company
	CRC
	CRC542514JL9
	3,800,000
	1,854,166
	1,839,546
	1,839,546
	2.48
	 ABS 
	 Home Equity 
	 A+ 
	 A 

	212015AH4
	CONTINENTAL RESOURCES INC
	Hartford Life Insurance Company
	CRC
	CRC212015AH4
	1,713,000
	1,713,000
	1,729,085
	1,729,085
	3.21
	 BIG Corporates 
	 HY Industrials 
	 Ba3 
	 BIG 

	26442RAD3
	DUKE ENERGY PROGRESS INC
	Hartford Life Insurance Company
	LC2
	LC226442RAD3
	4,432,475
	4,432,475
	4,417,879
	4,403,717
	27.92
	 Corporates 
	 Utilities 
	 A+ 
	 A 

	
														
	904764AK3
	UNILEVER CAPITAL CORP
	Hartford Life Insurance Company
	CRC
	CRC904764AK3
	10,000,000
	10,000,000
	10,641,220
	10,641,220
	2.13
	 Corporates 
	 Industrials 
	 A+ 
	 A 

	58013MEG5
	MCDONALDS CORPORATION MTN
	Hartford Life Insurance Company
	LC2
	LC258013MEG5
	2,675,000
	2,675,000
	2,674,773
	2,840,676
	2.09
	 Corporates 
	 Industrial 
	 Baa1 
	 BBB 

	61690GAH4
	MSBAM_14-C14    AS
	Hartford Life Insurance Company
	LC2
	LC261690GAH4
	1,551,500
	1,551,500
	1,586,870
	1,641,974
	7.04
	 CMBS 
	 CMBS 
	 Aaa 
	 AAA 

	125581GR3
	CIT GROUP INC
	Hartford Life Insurance Company
	CRC
	CRC125581GR3
	4,711,000
	4,711,000
	4,864,108
	4,864,108
	6.59
	 BIG Corporates 
	 HY Financials 
	 BB+ 
	 BIG 

	12630BBF4
	COMM_13-CR13     C
	Hartford Life Insurance Company
	CRC
	CRC12630BBF4
	9,200,000
	9,200,000
	9,496,442
	9,496,442
	6.94
	 CMBS 
	 CMBS 
	 A3 
	 A 

	31397U3N7
	FNA_11-M2       A3
	Hartford Life Insurance Company
	CRC
	CRC31397U3N7
	23,000,000
	23,000,000
	24,237,308
	24,237,308
	4.26
	 CMBS 
	 CMBS Agency 
	 Agency 
	 Govt 

	61760VAD5
	MSC_12-C4        C 144A
	Hartford Life Insurance Company
	LC2
	LC261760VAD5
	1,166,835
	1,166,835
	1,281,773
	1,235,727
	5.21
	 CMBS 
	 CMBS 
	 A2 
	 A 

	25272KAD5
	DIAMOND 1 FINANCE CORPORATION/DIAM 144A
	Hartford Life Insurance Company
	CRC
	CRC25272KAD5
	6,218,000
	6,218,000
	6,434,044
	6,434,044
	4.38
	 Corporates 
	 Industrials 
	 BBB- 
	 BBB 

	17275RAE2
	CISCO SYSTEMS INC
	Hartford Life Insurance Company
	CRC
	CRC17275RAE2
	12,400,000
	12,400,000
	13,255,464
	13,255,464
	2.13
	 Corporates 
	 Industrials 
	 A1 
	 A 

	BHM0JB0A1
	HTFD AMB INDUST   PN Prvt
	Hartford Life Insurance Company
	CRC
	CRCBHM0JB0A1
	28,000,000
	26,665,592
	27,536,692
	27,536,692
	3.92
	 CML 
	 CML 
	 Aa3 
	 AA 

	BHM0JB0A1
	HTFD AMB INDUST   PN Prvt
	Hartford Life Insurance Company
	LC2
	LC2BHM0JB0A1
	10,000,000
	9,523,426
	9,523,426
	9,834,533
	3.92
	 CML 
	 CML 
	 Aa3 
	 AA 

	161175BB9
	CHARTER COMMUNICATIONS OPERATING L
	Hartford Life Insurance Company
	CRC
	CRC161175BB9
	25,200,000
	25,200,000
	26,334,781
	26,334,781
	5.39
	 Corporates 
	 Industrials 
	 BBB- 
	 BBB 

	91412GXY6
	UNIVERSITY CALIF REVS FOR PREV
	Hartford Life Insurance Company
	LC2
	LC291412GXY6
	3,822,575
	3,822,575
	3,822,575
	3,792,377
	21.67
	 Corporates 
	 Tax Muni 
	 AA- 
	 AA  

	21036PAL2
	CONSTELLATION BRANDS INC
	Hartford Life Insurance Company
	CRC
	CRC21036PAL2
	3,172,000
	3,172,000
	3,289,015
	3,289,015
	6.34
	 Corporates 
	 Industrials 
	 BBB- 
	 BBB 

	89837LAA3
	PRINCETON UNIVERSITY
	Hartford Life Insurance Company
	CRC
	CRC89837LAA3
	11,259,000
	11,259,000
	12,017,958
	12,017,958
	2.17
	 Corporates 
	 Industrials 
	 Aaa 
	 AAA 

	3137G0ET2
	STACR_15-DNA1   M2
	Hartford Life Insurance Company
	CRC
	CRC3137G0ET2
	4,000,000
	4,000,000
	4,057,272
	4,057,272
	4.06
	 MBS 
	 CMO Non-Agency 
	 Baa1 
	 BBB 

	46640UAK8
	JPMBB_13-C17     C
	Hartford Life Insurance Company
	CRC
	CRC46640UAK8
	6,343,000
	6,343,000
	6,536,278
	6,536,278
	6.96
	 CMBS 
	 CMBS 
	 A3 
	 A 

	96221TAG2
	WFRBS_14-LC14     AS
	Hartford Life Insurance Company
	LC2
	LC296221TAG2
	802,500
	802,500
	820,609
	852,258
	7.04
	 CMBS 
	 CMBS 
	 Aaa 
	 AAA 

	031162AZ3
	AMGEN INC.
	Hartford Life Insurance Company
	CRC
	CRC031162AZ3
	8,600,000
	8,600,000
	9,243,375
	9,243,375
	2.09
	 Corporates 
	 Industrials 
	 Baa1 
	 BBB 

	12591UAJ2
	COMM_14-UBS2     B
	Hartford Life Insurance Company
	LC2
	LC212591UAJ2
	1,070,000
	1,070,000
	1,151,805
	1,139,425
	7.11
	 CMBS 
	 CMBS 
	 Aa3 
	 AA  

	36201GTM7
	Ginnie Agency MBS
	Hartford Life Insurance Company
	CRC
	CRC36201GTM7
	7,042,292
	12,648
	12,902
	12,902
	5.58
	 MBS 
	 MBS 
	 Govt 
	 govt 

	3137G0FT1
	STACR_15-DNA2   M2
	Hartford Life Insurance Company
	LC2
	LC23137G0FT1
	2,086,500
	1,886,508
	1,886,508
	1,922,587
	1.85
	 MBS 
	 CMO Non Agency 
	 A3 
	 A 

	3137ADTJ6
	FHMS_K014       A2
	Hartford Life Insurance Company
	CRC
	CRC3137ADTJ6
	10,000,000
	10,000,000
	10,631,110
	10,631,110
	4.16
	 CMBS 
	 CMBS Agency 
	 Agency 
	 Govt 

	3138XQX63
	Freddie /Fannie Agency MBS
	Hartford Life Insurance Company
	CRC
	CRC3138XQX63
	1,404,060
	935,627
	991,858
	991,858
	8.15
	 MBS 
	 MBS 
	 Govt 
	 govt 

	125581GQ5
	CIT GROUP INC
	Hartford Life Insurance Company
	CRC
	CRC125581GQ5
	2,357,000
	2,357,000
	2,457,173
	2,457,173
	5.63
	 BIG Corporates 
	 HY Financials 
	 BB+ 
	 BIG 

	BHM1DDGR7
	CORPORACION NACIONAL DEL COBRE DE RegS
	Hartford Life Insurance Company
	CRC
	CRCBHM1DDGR7
	1,600,000
	1,600,000
	1,624,237
	1,624,237
	8.71
	 EM 
	 EM 
	 A+ 
	 A 

	06053FAA7
	BANK OF AMERICA CORP
	Hartford Life Insurance Company
	CRC
	CRC06053FAA7
	15,000,000
	15,000,000
	15,669,000
	15,669,000
	6.57
	 Corporates 
	 Financials 
	 BBB+ 
	 BBB 

	362429AD4
	GSAMP_07-HS1    M3
	Hartford Life Insurance Company
	LC2
	LC2362429AD4
	1,465,900
	1,465,900
	1,472,618
	1,470,252
	6.49
	 ABS 
	 Home Equity 
	 B1 
	 BIG 

	96221QAK9
	WFRBS_13-C18     C
	Hartford Life Insurance Company
	CRC
	CRC96221QAK9
	1,710,000
	1,710,000
	1,770,339
	1,770,339
	7.04
	 CMBS 
	 CMBS 
	 A3 
	 A 

	26442CAG9
	DUKE ENERGY CAROLINAS LLC
	Hartford Life Insurance Company
	CRC
	CRC26442CAG9
	5,000,000
	5,000,000
	5,470,575
	5,470,575
	1.88
	 Corporates 
	 Utilities 
	 AA- 
	 AA 

	BHM0JEJL1
	HTFD REGENCY PO   PN Prvt
	Hartford Life Insurance Company
	CRC
	CRCBHM0JEJL1
	8,800,000
	8,131,983
	8,455,862
	8,455,862
	4.13
	 CML 
	 CML 
	 A1 
	 A 

	
														
	BHM0JEJL1
	HTFD REGENCY PO   PN Prvt
	Hartford Life Insurance Company
	LC2
	LC2BHM0JEJL1
	23,896,000
	22,082,030
	22,082,030
	22,961,510
	4.13
	 CML 
	 CML 
	 A1 
	 A 

	21684AAA4
	RABOBANK NEDERLAND
	Hartford Life Insurance Company
	CRC
	CRC21684AAA4
	3,900,000
	3,900,000
	4,103,151
	4,103,151
	6.92
	 Corporates 
	 Financials 
	 A3 
	 A 

	31390BFK9
	Freddie /Fannie Agency MBS
	Hartford Life Insurance Company
	CRC
	CRC31390BFK9
	221,716
	1,036
	1,075
	1,075
	4.77
	 MBS 
	 MBS 
	 Govt 
	 govt 

	69369EAC3
	PERTAMINA PERSERO PT       144A
	Hartford Life Insurance Company
	CRC
	CRC69369EAC3
	970,000
	970,000
	996,311
	996,311
	5.34
	 EM 
	 EM 
	 Baa3 
	 BBB 

	883203BU4
	TEXTRON INC
	Hartford Life Insurance Company
	CRC
	CRC883203BU4
	5,000,000
	5,000,000
	5,186,335
	5,186,335
	6.92
	 Corporates 
	 Industrials 
	 Baa3 
	 BBB 

	3132JN4V6
	Freddie /Fannie Agency MBS
	Hartford Life Insurance Company
	CRC
	CRC3132JN4V6
	2,345,921
	1,586,087
	1,680,117
	1,680,117
	8.17
	 MBS 
	 MBS 
	 Govt 
	 govt 

	BHM0JEJN7
	HTFD REGENCY PO   PN Prvt
	Hartford Life Insurance Company
	CRC
	CRCBHM0JEJN7
	8,700,000
	8,039,574
	8,375,478
	8,375,478
	4.13
	 CML 
	 CML 
	 Aa3 
	 AA 

	55336VAE0
	MPLX LP
	Hartford Life Insurance Company
	CRC
	CRC55336VAE0
	5,625,000
	5,625,000
	5,712,840
	5,712,840
	6.29
	 Corporates 
	 Industrials 
	 BBB- 
	 BBB 

	629377BW1
	NRG ENERGY INC
	Hartford Life Insurance Company
	CRC
	CRC629377BW1
	1,344,000
	1,344,000
	1,347,360
	1,347,360
	3.54
	 BIG Corporates 
	 HY Utilities 
	 B1 
	 BIG 

	83162CUA9
	SBAP_11-20E      1
	Hartford Life Insurance Company
	CRC
	CRC83162CUA9
	9,590,000
	4,969,116
	5,201,035
	5,201,035
	3.90
	 Agency 
	 SBA 
	 Govt 
	 govt 

	12189TBC7
	BURLINGTON NORTHERN SANTA FE CORP
	Hartford Life Insurance Company
	LC2
	LC212189TBC7
	2,407,500
	2,407,500
	2,406,142
	2,589,107
	2.75
	 Corporates 
	 Industrial 
	 A3 
	 A 

	501044BM2
	KROGER CO. (THE)
	Hartford Life Insurance Company
	LC2
	LC2501044BM2
	4,087,400
	4,087,400
	4,052,271
	4,474,465
	1.96
	 Corporates 
	 Industrial 
	 BBB 
	 BBB 

	744448CC3
	PUBLIC SERVICE COMPANY OF COLORADO
	Hartford Life Insurance Company
	CRC
	CRC744448CC3
	6,400,000
	6,400,000
	6,898,067
	6,898,067
	2.42
	 Corporates 
	 Utilities 
	 A1 
	 A 

	84756NAD1
	SPECTRA ENERGY PARTNERS LP
	Hartford Life Insurance Company
	CRC
	CRC84756NAD1
	11,723,000
	11,723,000
	12,445,723
	12,445,723
	6.96
	 Corporates 
	 Industrials 
	 BBB 
	 BBB 

	84756NAB5
	SPECTRA ENERGY PARTNERS LP
	Hartford Life Insurance Company
	CRC
	CRC84756NAB5
	3,565,000
	3,565,000
	3,802,682
	3,802,682
	4.21
	 Corporates 
	 Industrials 
	 BBB 
	 BBB 

	31371LPS2
	Freddie /Fannie Agency MBS
	Hartford Life Insurance Company
	CRC
	CRC31371LPS2
	39,084
	1,125
	1,158
	1,158
	1.04
	 MBS 
	 MBS 
	 Govt 
	 govt 

	31405CUV9
	Freddie /Fannie Agency MBS
	Hartford Life Insurance Company
	CRC
	CRC31405CUV9
	42,962
	1,522
	1,567
	1,567
	1.04
	 MBS 
	 MBS 
	 Govt 
	 govt 

	31418P6N0
	Freddie /Fannie Agency MBS
	Hartford Life Insurance Company
	CRC
	CRC31418P6N0
	31,283
	4,842
	5,069
	5,069
	3.08
	 MBS 
	 MBS 
	 Govt 
	 govt 

	774341AB7
	ROCKWELL COLLINS INC.
	Hartford Life Insurance Company
	CRC
	CRC774341AB7
	15,000,000
	15,000,000
	16,104,570
	16,104,570
	2.54
	 Corporates 
	 Industrials 
	 A- 
	 A 

	12591KAH8
	COMM_13-CR12     B
	Hartford Life Insurance Company
	CRC
	CRC12591KAH8
	4,400,000
	4,400,000
	4,730,563
	4,730,563
	6.85
	 CMBS 
	 CMBS 
	 Aa3 
	 AA 

	12594CBJ8
	COMM_16-DC2      B
	Hartford Life Insurance Company
	CRC
	CRC12594CBJ8
	2,900,000
	2,900,000
	2,967,628
	2,967,628
	9.11
	 CMBS 
	 CMBS 
	 A1 
	 A 

	31298F2A9
	Govt
	Hartford Life Insurance Company
	LC2
	LC231298F2A9
	4,554,875
	5,610
	5,498
	5,850
	4.53
	 MBS 
	 MBS 
	 Govt 
	 Govt 

	3138XFC45
	Freddie /Fannie Agency MBS
	Hartford Life Insurance Company
	CRC
	CRC3138XFC45
	344,887
	279,567
	296,341
	296,341
	8.15
	 MBS 
	 MBS 
	 Govt 
	 govt 

	3138X1UK0
	Freddie /Fannie Agency MBS
	Hartford Life Insurance Company
	CRC
	CRC3138X1UK0
	2,791,916
	2,201,534
	2,333,904
	2,333,904
	8.22
	 MBS 
	 MBS 
	 Govt 
	 govt 

	82967NAS7
	SIRIUS XM RADIO INC        144A
	Hartford Life Insurance Company
	CRC
	CRC82967NAS7
	1,478,000
	1,478,000
	1,544,510
	1,544,510
	5.54
	 BIG Corporates 
	 HY Industrials 
	 Ba3 
	 BIG 

	82967NAS7
	SIRIUS XM RADIO INC        144A
	Hartford Life Insurance Company
	LC2
	LC282967NAS7
	2,532,000
	2,532,000
	2,565,734
	2,645,940
	5.54
	 BIG Corporates 
	 HY Industrials 
	 Ba3 
	 BIG 

	92938EBJ1
	WFRBS_13-C16     C
	Hartford Life Insurance Company
	CRC
	CRC92938EBJ1
	3,700,000
	3,700,000
	3,893,802
	3,893,802
	6.71
	 CMBS 
	 CMBS 
	 A3 
	 A 

	3138AVP74
	Freddie /Fannie Agency MBS
	Hartford Life Insurance Company
	CRC
	CRC3138AVP74
	838,962
	457,684
	485,115
	485,115
	7.88
	 MBS 
	 MBS 
	 Govt 
	 govt 

	26875PAD3
	EOG RESOURCES INC.
	Hartford Life Insurance Company
	CRC
	CRC26875PAD3
	25,637,000
	25,637,000
	27,703,804
	27,703,804
	2.42
	 Corporates 
	 Industrials 
	 Baa1 
	 BBB 

	3132JNML8
	Freddie /Fannie Agency MBS
	Hartford Life Insurance Company
	CRC
	CRC3132JNML8
	9,412,977
	6,748,473
	7,148,550
	7,148,550
	8.17
	 MBS 
	 MBS 
	 Govt 
	 govt 

	3137G0HF9
	STACR_15-HQA2   M2
	Hartford Life Insurance Company
	CRC
	CRC3137G0HF9
	3,750,000
	3,750,000
	3,849,060
	3,849,060
	12.18
	 MBS 
	 CMO Non-Agency 
	 BBB- 
	 BBB 

	
														
	3128M9UZ3
	Freddie /Fannie Agency MBS
	Hartford Life Insurance Company
	CRC
	CRC3128M9UZ3
	8,109,714
	6,080,976
	6,441,462
	6,441,462
	8.17
	 MBS 
	 MBS 
	 Govt 
	 govt 

	3132JNRG4
	Freddie /Fannie Agency MBS
	Hartford Life Insurance Company
	CRC
	CRC3132JNRG4
	3,412,422
	2,247,127
	2,380,344
	2,380,344
	8.17
	 MBS 
	 MBS 
	 Govt 
	 govt 

	3132JNX44
	Freddie /Fannie Agency MBS
	Hartford Life Insurance Company
	CRC
	CRC3132JNX44
	4,214,095
	3,027,826
	3,206,274
	3,206,274
	8.17
	 MBS 
	 MBS 
	 Govt 
	 govt 

	3132JPF49
	Freddie /Fannie Agency MBS
	Hartford Life Insurance Company
	CRC
	CRC3132JPF49
	1,162,063
	859,444
	910,393
	910,393
	8.17
	 MBS 
	 MBS 
	 Govt 
	 govt 

	3132JPSP8
	Freddie /Fannie Agency MBS
	Hartford Life Insurance Company
	CRC
	CRC3132JPSP8
	3,166,051
	2,393,362
	2,535,252
	2,535,252
	8.17
	 MBS 
	 MBS 
	 Govt 
	 govt 

	291011AY0
	EMERSON ELECTRIC CO
	Hartford Life Insurance Company
	CRC
	CRC291011AY0
	15,600,000
	15,600,000
	16,829,842
	16,829,842
	2.79
	 Corporates 
	 Industrials 
	 A2 
	 A 

	3137G0AL3
	STACR_14-DN1    M2
	Hartford Life Insurance Company
	CRC
	CRC3137G0AL3
	2,165,000
	2,165,000
	2,214,849
	2,214,849
	3.74
	 MBS 
	 CMO Non-Agency 
	 A1 
	 A 

	3137G0AL3
	STACR_14-DN1    M2
	Hartford Life Insurance Company
	LC2
	LC23137G0AL3
	3,745,000
	3,745,000
	3,745,000
	3,831,229
	3.74
	 MBS 
	 CMO Non-Agency 
	 A1 
	 A 

	154051BH8
	CENTRAL MAINE POWER COMPANY 144A
	Hartford Life Insurance Company
	CRC
	CRC154051BH8
	20,000,000
	20,000,000
	21,648,920
	21,648,920
	2.42
	 Corporates 
	 Utilities 
	 A 
	 A 

	92938GAJ7
	WFRBS_13-C17     B
	Hartford Life Insurance Company
	CRC
	CRC92938GAJ7
	5,000,000
	5,000,000
	5,340,220
	5,340,220
	6.88
	 CMBS 
	 CMBS 
	 Aa3 
	 AA 

	444454AB8
	HUGHES SATELLITE SYSTEMS CORP
	Hartford Life Insurance Company
	CRC
	CRC444454AB8
	1,344,000
	1,344,000
	1,461,600
	1,461,600
	2.46
	 BIG Corporates 
	 HY Industrials 
	 Ba2 
	 BIG 

	483007AH3
	KAISER ALUMINUM CORPORATION
	Hartford Life Insurance Company
	CRC
	CRC483007AH3
	1,093,000
	1,093,000
	1,131,255
	1,131,255
	5.38
	 BIG Corporates 
	 HY Industrials 
	 Ba3 
	 BIG 

	12626BAQ7
	COMM_13-CR10     B 144A
	Hartford Life Insurance Company
	CRC
	CRC12626BAQ7
	3,000,000
	3,000,000
	3,244,800
	3,244,800
	6.61
	 CMBS 
	 CMBS 
	 Aa3 
	 AA 

	12626BAQ7
	COMM_13-CR10     B 144A
	Hartford Life Insurance Company
	LC2
	LC212626BAQ7
	1,070,000
	1,070,000
	1,077,897
	1,157,312
	6.61
	 CMBS 
	 CMBS 
	 Aa3 
	 AA 

	8935268Y2
	TRANSCANADA PIPELINES LTD
	Hartford Life Insurance Company
	CRC
	CRC8935268Y2
	25,000,000
	25,000,000
	27,439,125
	27,439,125
	2.04
	 Corporates 
	 Industrials 
	 A3 
	 A 

	64072TAC9
	CSC HOLDINGS LLC  144A
	Hartford Life Insurance Company
	CRC
	CRC64072TAC9
	3,276,000
	3,276,000
	3,579,030
	3,579,030
	3.79
	 BIG Corporates 
	 HY Industrials 
	 BB- 
	 BIG 

	736508BQ4
	PORTLAND GENERAL ELECTRIC COMPANY
	Hartford Life Insurance Company
	CRC
	CRC736508BQ4
	17,000,000
	17,000,000
	18,542,784
	18,542,784
	2.29
	 Corporates 
	 Utilities 
	 A- 
	 A 

	89152UAD4
	TOTAL CAPITAL SA
	Hartford Life Insurance Company
	LC2
	LC289152UAD4
	1,888,550
	1,888,550
	1,901,127
	2,032,072
	3.48
	 Corporates 
	 Industrial 
	 Aa3 
	 AA  

	BHM0JEJP2
	HTFD REGENCY PO   PN Prvt
	Hartford Life Insurance Company
	CRC
	CRCBHM0JEJP2
	11,100,000
	10,264,136
	10,748,790
	10,748,790
	5.89
	 CML 
	 CML 
	 A1 
	 A 

	36201ENY2
	Ginnie Agency MBS
	Hartford Life Insurance Company
	CRC
	CRC36201ENY2
	5,010,055
	136,886
	149,846
	149,846
	5.58
	 MBS 
	 MBS 
	 Govt 
	 govt 

	87243QAB2
	TENET HEALTHCARE CORPORATION
	Hartford Life Insurance Company
	CRC
	CRC87243QAB2
	2,103,000
	2,103,000
	2,202,893
	2,202,893
	3.75
	 BIG Corporates 
	 HY Industrials 
	 BB- 
	 BIG 

	87243QAB2
	TENET HEALTHCARE CORPORATION
	Hartford Life Insurance Company
	LC2
	LC287243QAB2
	2,801,000
	2,801,000
	2,925,180
	2,934,048
	3.75
	 BIG Corporates 
	 HY Industrials 
	 BB- 
	 BIG 

	29365TAA2
	ENTERGY TEXAS INC
	Hartford Life Insurance Company
	CRC
	CRC29365TAA2
	10,000,000
	10,000,000
	11,004,920
	11,004,920
	2.09
	 Corporates 
	 Utilities 
	 Baa1 
	 BBB 

	853496AB3
	STANDARD INDUSTRIES INC    144A
	Hartford Life Insurance Company
	CRC
	CRC853496AB3
	1,572,000
	1,572,000
	1,627,177
	1,627,177
	6.13
	 BIG Corporates 
	 HY Industrials 
	 Ba2 
	 BIG 

	655844BC1
	NORFOLK SOUTHERN CORP
	Hartford Life Insurance Company
	CRC
	CRC655844BC1
	22,500,000
	22,500,000
	24,548,333
	24,548,333
	2.46
	 Corporates 
	 Industrials 
	 Baa1 
	 BBB 

	31412VJV1
	Freddie /Fannie Agency MBS
	Hartford Life Insurance Company
	CRC
	CRC31412VJV1
	4,532,932
	1,234,353
	1,311,292
	1,311,292
	3.13
	 MBS 
	 MBS 
	 Govt 
	 govt 

	12527EAD0
	CFCRE_11-C1     A4 144A
	Hartford Life Insurance Company
	CRC
	CRC12527EAD0
	2,000,000
	2,000,000
	2,156,542
	2,156,542
	3.64
	 CMBS 
	 CMBS 
	 Aaa 
	 AAA 

	452308AJ8
	ILLINOIS TOOL WORKS INC.
	Hartford Life Insurance Company
	CRC
	CRC452308AJ8
	19,660,000
	19,660,000
	21,503,675
	21,503,675
	2.25
	 Corporates 
	 Industrials 
	 A2 
	 A 

	29425AAG8
	CGCMT_15-GC33      B
	Hartford Life Insurance Company
	CRC
	CRC29425AAG8
	2,502,000
	2,502,000
	2,660,582
	2,660,582
	8.69
	 CMBS 
	 CMBS 
	 AA- 
	 AA 

	87264AAL9
	T-MOBILE USA INC
	Hartford Life Insurance Company
	CRC
	CRC87264AAL9
	5,676,000
	5,676,000
	6,016,560
	6,016,560
	1.25
	 BIG Corporates 
	 HY Industrials 
	 Ba3 
	 BIG 

	BHM0JEHH2
	HTFD REGENCY PO   PN Prvt
	Hartford Life Insurance Company
	CRC
	CRCBHM0JEHH2
	26,000,000
	24,042,121
	25,203,187
	25,203,187
	5.89
	 CML 
	 CML 
	 A1 
	 A 

	
														
	BHM0JEHH2
	HTFD REGENCY PO   PN Prvt
	Hartford Life Insurance Company
	LC2
	LC2BHM0JEHH2
	7,569,000
	6,999,031
	6,999,031
	7,337,035
	5.89
	 CML 
	 CML 
	 A1 
	 A 

	61763BAX2
	MSBAM_13-C13     B
	Hartford Life Insurance Company
	CRC
	CRC61763BAX2
	10,000,000
	10,000,000
	10,813,220
	10,813,220
	6.88
	 CMBS 
	 CMBS 
	 Aa3 
	 AA 

	BHM0V0A77
	TEEKAY SHUTTLE TANKER FINANCE LLC Prvt
	Hartford Life Insurance Company
	CRC
	CRCBHM0V0A77
	14,000,000
	11,517,823
	12,213,270
	12,213,270
	4.89
	 EM 
	 EM 
	 BBB- 
	 BBB 

	36202FKM7
	Ginnie Agency MBS
	Hartford Life Insurance Company
	CRC
	CRC36202FKM7
	23,000,000
	6,994,024
	7,501,384
	7,501,384
	6.62
	 MBS 
	 MBS 
	 Govt 
	 govt 

	482480AE0
	KLA-TENCOR CORPORATION
	Hartford Life Insurance Company
	CRC
	CRC482480AE0
	11,194,000
	11,194,000
	11,850,103
	11,850,103
	7.59
	 Corporates 
	 Industrials 
	 Baa2 
	 BBB 

	83162CTB9
	SBAP_10-20B      1
	Hartford Life Insurance Company
	CRC
	CRC83162CTB9
	9,251,000
	4,469,630
	4,751,525
	4,751,525
	3.16
	 Agency 
	 SBA 
	 Govt 
	 govt 

	09247XAE1
	BLACKROCK INC
	Hartford Life Insurance Company
	LC2
	LC209247XAE1
	2,181,730
	2,181,730
	2,185,991
	2,369,466
	2.94
	 Corporates 
	 Financial 
	 A1 
	 A 

	83162CSL8
	SBAP_09-20D      1
	Hartford Life Insurance Company
	LC2
	LC283162CSL8
	4,119,500
	1,618,990
	1,618,990
	1,715,679
	2.91
	 Agency 
	 SBA 
	 Govt 
	 Govt 

	718546AC8
	PHILLIPS 66
	Hartford Life Insurance Company
	CRC
	CRC718546AC8
	8,995,000
	8,995,000
	9,658,084
	9,658,084
	5.25
	 Corporates 
	 Industrials 
	 BBB+ 
	 BBB 

	83162CTD5
	SBAP_10-20C      1
	Hartford Life Insurance Company
	CRC
	CRC83162CTD5
	19,176,000
	8,948,125
	9,529,333
	9,529,333
	3.25
	 Agency 
	 SBA 
	 Govt 
	 govt 

	BHM03HEU6
	HTFD BOSTON HAR   PN Prvt
	Hartford Life Insurance Company
	CRC
	CRCBHM03HEU6
	40,000,000
	40,000,000
	39,947,290
	39,947,290
	1.34
	 CML 
	 CML 
	 A2 
	 A 

	71656LBQ3
	PETROLEOS MEXICANOS        144A
	Hartford Life Insurance Company
	CRC
	CRC71656LBQ3
	1,750,000
	1,750,000
	1,805,125
	1,805,125
	10.20
	 EM 
	 EM 
	 BBB+ 
	 BBB 

	31418TXF9
	Freddie /Fannie Agency MBS
	Hartford Life Insurance Company
	CRC
	CRC31418TXF9
	100,622
	8,690
	9,241
	9,241
	3.04
	 MBS 
	 MBS 
	 Govt 
	 govt 

	651229AY2
	NEWELL RUBBERMAID INC
	Hartford Life Insurance Company
	LC2
	LC2651229AY2
	1,560,060
	1,560,060
	1,554,439
	1,790,989
	29.25
	 Corporates 
	 Industrial 
	 BBB- 
	 BBB 

	61762XAX5
	MSBAM_13-C12     B
	Hartford Life Insurance Company
	CRC
	CRC61762XAX5
	4,500,000
	4,500,000
	4,849,380
	4,849,380
	6.71
	 CMBS 
	 CMBS 
	 Aa3 
	 AA 

	83162CTE3
	SBAP_10-20D      1
	Hartford Life Insurance Company
	CRC
	CRC83162CTE3
	7,615,000
	3,351,061
	3,575,123
	3,575,123
	3.32
	 Agency 
	 SBA 
	 Govt 
	 govt 

	3137G0GT0
	STACR_15-DNA3   M2
	Hartford Life Insurance Company
	CRC
	CRC3137G0GT0
	2,730,000
	2,730,000
	2,808,785
	2,808,785
	3.08
	 MBS 
	 CMO Non-Agency 
	 BBB- 
	 BBB 

	3137G0GT0
	STACR_15-DNA3   M2
	Hartford Life Insurance Company
	LC2
	LC23137G0GT0
	1,284,000
	1,284,000
	1,284,000
	1,321,055
	3.08
	 MBS 
	 CMO Non-Agency 
	 BBB- 
	 BBB 

	29444UAP1
	EQUINIX INC
	Hartford Life Insurance Company
	CRC
	CRC29444UAP1
	1,794,000
	1,794,000
	1,874,730
	1,874,730
	6.00
	 BIG Corporates 
	 HY Industrials 
	 BB 
	 BIG 

	31419ABG1
	Freddie /Fannie Agency MBS
	Hartford Life Insurance Company
	CRC
	CRC31419ABG1
	9,997,307
	1,921,018
	2,037,633
	2,037,633
	3.13
	 MBS 
	 MBS 
	 Govt 
	 govt 

	31418U2M5
	Freddie /Fannie Agency MBS
	Hartford Life Insurance Company
	CRC
	CRC31418U2M5
	545,481
	67,209
	71,411
	71,411
	3.04
	 MBS 
	 MBS 
	 Govt 
	 govt 

	31419AHL4
	Freddie /Fannie Agency MBS
	Hartford Life Insurance Company
	CRC
	CRC31419AHL4
	381,970
	61,922
	65,453
	65,453
	3.04
	 MBS 
	 MBS 
	 Govt 
	 govt 

	BHM03TLB4
	HTFD AMB PORTFO   PN Prvt
	Hartford Life Insurance Company
	CRC
	CRCBHM03TLB4
	30,000,000
	26,350,501
	27,968,253
	27,968,253
	3.75
	 CML 
	 CML 
	 Aa3 
	 AA 

	63938CAD0
	NAVIENT CORP
	Hartford Life Insurance Company
	CRC
	CRC63938CAD0
	2,172,000
	2,172,000
	2,296,890
	2,296,890
	4.57
	 BIG Corporates 
	 HY Financials 
	 BB- 
	 BIG 

	485260BL6
	KANSAS GAS AND ELECTRIC CO 144A
	Hartford Life Insurance Company
	CRC
	CRC485260BL6
	19,288,000
	19,288,000
	21,384,779
	21,384,779
	2.46
	 Corporates 
	 Utilities 
	 A 
	 A 

	81727TAA6
	SENSATA TECHNOLOGIES UK FINANCING 144A
	Hartford Life Insurance Company
	CRC
	CRC81727TAA6
	1,557,000
	1,557,000
	1,627,065
	1,627,065
	4.13
	 BIG Corporates 
	 HY Industrials 
	 Ba3 
	 BIG 

	96221QAJ2
	WFRBS_13-C18     B
	Hartford Life Insurance Company
	CRC
	CRC96221QAJ2
	3,000,000
	3,000,000
	3,237,438
	3,237,438
	7.04
	 CMBS 
	 CMBS 
	 Aa3 
	 AA 

	228227BE3
	CROWN CASTLE INTERNATIONAL CORP
	Hartford Life Insurance Company
	CRC
	CRC228227BE3
	10,300,000
	10,300,000
	10,967,440
	10,967,440
	5.29
	 Corporates 
	 Industrials 
	 BBB- 
	 BBB 

	29364NAP3
	ENTERGY MISSISSIPPI INC
	Hartford Life Insurance Company
	CRC
	CRC29364NAP3
	5,000,000
	5,000,000
	5,519,780
	5,519,780
	2.50
	 Corporates 
	 Utilities 
	 A3 
	 A 

	460146CG6
	INTERNATIONAL PAPER CO
	Hartford Life Insurance Company
	CRC
	CRC460146CG6
	3,635,000
	3,635,000
	3,932,052
	3,932,052
	4.87
	 Corporates 
	 Industrials 
	 Baa2 
	 BBB 

	45326TAA6
	INCITEC PIVOT FINANCE LLC  144A
	Hartford Life Insurance Company
	LC2
	LC245326TAA6
	3,568,450
	3,568,450
	3,559,917
	3,839,049
	2.94
	 Corporates 
	 Industrial 
	 Baa3 
	 BBB 

	
														
	25179MAU7
	DEVON ENERGY CORPORATION
	Hartford Life Insurance Company
	LC2
	LC225179MAU7
	5,671,000
	5,671,000
	5,346,873
	5,570,822
	28.46
	 Corporates 
	 Industrial 
	 BBB 
	 BBB 

	344868AA2
	FOOTBALL TRUST V  144A
	Hartford Life Insurance Company
	LC2
	LC2344868AA2
	2,140,000
	2,140,000
	2,140,000
	2,274,651
	3.78
	 Corporates 
	 Industrials 
	 A 
	 A 

	BHM0J5AM7
	HTFD 840 FIRST    PN Prvt
	Hartford Life Insurance Company
	CRC
	CRCBHM0J5AM7
	16,000,000
	14,441,493
	15,437,486
	15,437,486
	3.37
	 CML 
	 CML 
	 Aa3 
	 AA 

	BHM0J5AM7
	HTFD 840 FIRST    PN Prvt
	Hartford Life Insurance Company
	LC2
	LC2BHM0J5AM7
	10,000,000
	9,025,933
	9,025,933
	9,648,429
	3.37
	 CML 
	 CML 
	 Aa3 
	 AA 

	69353UAA9
	PPL WEM HOLDINGS PLC       144A
	Hartford Life Insurance Company
	CRC
	CRC69353UAA9
	10,000,000
	10,000,000
	10,790,180
	10,790,180
	4.08
	 Corporates 
	 Utilities 
	 Baa3 
	 BBB 

	375558BG7
	GILEAD SCIENCES INC
	Hartford Life Insurance Company
	LC2
	LC2375558BG7
	2,541,250
	2,541,250
	2,550,677
	2,635,759
	18.67
	 Corporates 
	 Industrial 
	 A3 
	 A 

	496902AN7
	KINROSS GOLD CORP
	Hartford Life Insurance Company
	CRC
	CRC496902AN7
	2,000,000
	2,000,000
	2,025,000
	2,025,000
	6.96
	 BIG Corporates 
	 HY Industrials 
	 BB+ 
	 BIG 

	31412MLD8
	Freddie /Fannie Agency MBS
	Hartford Life Insurance Company
	CRC
	CRC31412MLD8
	8,414,974
	316,186
	337,491
	337,491
	2.41
	 MBS 
	 MBS 
	 Govt 
	 govt 

	3128MCET8
	Freddie /Fannie Agency MBS
	Hartford Life Insurance Company
	CRC
	CRC3128MCET8
	2,318,507
	87,991
	94,292
	94,292
	2.74
	 MBS 
	 MBS 
	 Govt 
	 govt 

	709599AH7
	PENSKE TRUCK LEASING COMPANY LP / 144A
	Hartford Life Insurance Company
	CRC
	CRC709599AH7
	13,916,000
	13,916,000
	14,933,413
	14,933,413
	5.53
	 Corporates 
	 Industrials 
	 BBB 
	 BBB 

	881609BB6
	TESORO CORP       144A
	Hartford Life Insurance Company
	CRC
	CRC881609BB6
	1,783,000
	1,783,000
	1,795,258
	1,795,258
	6.79
	 BIG Corporates 
	 HY Industrials 
	 Ba2 
	 BIG 

	55354GAB6
	MSCI INC          144A
	Hartford Life Insurance Company
	CRC
	CRC55354GAB6
	957,000
	957,000
	1,016,813
	1,016,813
	3.63
	 BIG Corporates 
	 HY Industrials 
	 Ba2 
	 BIG 

	02666BAD8
	AH4R_15-SFR2     D 144A
	Hartford Life Insurance Company
	CRC
	CRC02666BAD8
	2,000,000
	2,000,000
	2,085,210
	2,085,210
	8.80
	 ABS 
	 Other ABS 
	 Baa2 
	 BBB 

	404121AC9
	HCA INC
	Hartford Life Insurance Company
	CRC
	CRC404121AC9
	1,350,000
	1,350,000
	1,476,900
	1,476,900
	3.13
	 BIG Corporates 
	 HY Industrials 
	 BB+ 
	 BIG 

	903293BD9
	USG CORPORATION   144A
	Hartford Life Insurance Company
	CRC
	CRC903293BD9
	1,331,000
	1,331,000
	1,367,603
	1,367,603
	6.17
	 BIG Corporates 
	 HY Industrials 
	 BB+ 
	 BIG 

	36248GAJ9
	GSMS_13-GC16     B
	Hartford Life Insurance Company
	CRC
	CRC36248GAJ9
	9,581,000
	9,581,000
	10,527,057
	10,527,057
	6.86
	 CMBS 
	 CMBS 
	 Aa3 
	 AA 

	13645RAJ3
	CANADIAN PACIFIC RAILWAY CO
	Hartford Life Insurance Company
	CRC
	CRC13645RAJ3
	10,001,000
	10,001,000
	11,192,029
	11,192,029
	2.38
	 Corporates 
	 Industrials 
	 Baa1 
	 BBB 

	BHM0NVNU3
	WAKALA GLOBAL SUKUK BHD    RegS
	Hartford Life Insurance Company
	CRC
	CRCBHM0NVNU3
	1,440,000
	1,440,000
	1,540,238
	1,540,238
	4.52
	 EM 
	 EM 
	 A3 
	 A 

	013817AQ4
	ARCONIC INC
	Hartford Life Insurance Company
	CRC
	CRC013817AQ4
	1,663,000
	1,663,000
	1,779,410
	1,779,410
	5.15
	 BIG Corporates 
	 HY Industrials 
	 BB+ 
	 BIG 

	761713AY2
	REYNOLDS AMERICAN INC
	Hartford Life Insurance Company
	CRC
	CRC761713AY2
	14,512,000
	14,512,000
	15,760,758
	15,760,758
	6.71
	 Corporates 
	 Industrials 
	 BBB 
	 BBB 

	15135BAH4
	CENTENE CORPORATION
	Hartford Life Insurance Company
	CRC
	CRC15135BAH4
	1,651,000
	1,651,000
	1,739,741
	1,739,741
	5.13
	 BIG Corporates 
	 HY Financials 
	 Ba2 
	 BIG 

	68557NAC7
	ORBITAL ATK INC
	Hartford Life Insurance Company
	CRC
	CRC68557NAC7
	1,324,000
	1,324,000
	1,363,720
	1,363,720
	4.75
	 BIG Corporates 
	 HY Industrials 
	 BB 
	 BIG 

	15135BAH4
	CENTENE CORPORATION
	Hartford Life Insurance Company
	LC2
	LC215135BAH4
	1,865,000
	1,865,000
	1,962,094
	1,965,244
	5.13
	 BIG Corporates 
	 HY Financials 
	 Ba2 
	 BIG 

	984851AC9
	YARA INTERNATIONAL ASA     144A
	Hartford Life Insurance Company
	CRC
	CRC984851AC9
	12,285,000
	12,285,000
	13,735,588
	13,735,588
	2.45
	 Corporates 
	 Industrials 
	 Baa2 
	 BBB 

	638612AK7
	NATIONWIDE FINANCIAL SERVICES 144A
	Hartford Life Insurance Company
	CRC
	CRC638612AK7
	5,000,000
	5,000,000
	5,461,205
	5,461,205
	4.24
	 Corporates 
	 Financials 
	 Baa1 
	 BBB 

	126650CS7
	CVS HEALTH CORP
	Hartford Life Insurance Company
	CRC
	CRC126650CS7
	6,638,000
	6,638,000
	7,266,645
	7,266,645
	7.66
	 Corporates 
	 Industrials 
	 Baa1 
	 BBB 

	36202FEH5
	Ginnie Agency MBS
	Hartford Life Insurance Company
	CRC
	CRC36202FEH5
	4,580,042
	1,086,521
	1,171,022
	1,171,022
	6.46
	 MBS 
	 MBS 
	 Govt 
	 govt 

	36202FGW0
	Ginnie Agency MBS
	Hartford Life Insurance Company
	CRC
	CRC36202FGW0
	64,859,000
	15,504,293
	16,710,186
	16,710,186
	6.46
	 MBS 
	 MBS 
	 Govt 
	 govt 

	36202FLP9
	Ginnie Agency MBS
	Hartford Life Insurance Company
	CRC
	CRC36202FLP9
	480,000
	126,612
	137,020
	137,020
	6.46
	 MBS 
	 MBS 
	 Govt 
	 govt 

	910047AG4
	UNITED CONTINENTAL HOLDINGS INC
	Hartford Life Insurance Company
	CRC
	CRC910047AG4
	961,000
	961,000
	1,021,063
	1,021,063
	3.92
	 BIG Corporates 
	 HY Industrials 
	 BB- 
	 BIG 

	36202FCN4
	Ginnie Agency MBS
	Hartford Life Insurance Company
	CRC
	CRC36202FCN4
	31,372,400
	7,151,404
	7,715,628
	7,715,628
	6.48
	 MBS 
	 MBS 
	 Govt 
	 govt 

	
														
	445545AD8
	HUNGARY (REPUBLIC OF)
	Hartford Life Insurance Company
	CRC
	CRC445545AD8
	1,192,000
	1,192,000
	1,303,750
	1,303,750
	3.08
	 EM 
	 EM 
	 BBB- 
	 BBB 

	651290AP3
	NEWFIELD EXPLORATION COMPANY
	Hartford Life Insurance Company
	CRC
	CRC651290AP3
	2,203,000
	2,203,000
	2,321,411
	2,321,411
	5.08
	 BIG Corporates 
	 HY Industrials 
	 BB+ 
	 BIG 

	651290AP3
	NEWFIELD EXPLORATION COMPANY
	Hartford Life Insurance Company
	LC2
	LC2651290AP3
	2,896,000
	2,896,000
	2,953,202
	3,051,660
	5.08
	 BIG Corporates 
	 HY Industrials 
	 BB+ 
	 BIG 

	454889AQ9
	INDIANA MICHIGAN POWER COMPANY
	Hartford Life Insurance Company
	LC2
	LC2454889AQ9
	1,963,450
	1,963,450
	1,956,804
	2,036,435
	28.71
	 Corporates 
	 Utilities 
	 Baa1 
	 BBB 

	31293EFM7
	Freddie /Fannie Agency MBS
	Hartford Life Insurance Company
	CRC
	CRC31293EFM7
	22,500,000
	96,038
	101,973
	101,973
	3.65
	 MBS 
	 MBS 
	 Govt 
	 govt 

	350910AN5
	FTST_06-4TS      A 144A
	Hartford Life Insurance Company
	LC2
	LC2350910AN5
	5,347,325
	5,337,357
	5,346,594
	5,866,444
	3.77
	 CMBS 
	 CMBS 
	 AAA 
	 AAA 

	816851AK5
	SEMPRA ENERGY
	Hartford Life Insurance Company
	CRC
	CRC816851AK5
	5,000,000
	5,000,000
	5,791,400
	5,791,400
	2.13
	 Corporates 
	 Utilities 
	 BBB+ 
	 BBB 

	718172BD0
	PHILIP MORRIS INTERNATIONAL INC
	Hartford Life Insurance Company
	LC2
	LC2718172BD0
	8,025,000
	8,025,000
	7,917,500
	8,631,915
	26.88
	 Corporates 
	 Industrial 
	 A 
	 A 

	521865AX3
	LEAR CORP
	Hartford Life Insurance Company
	CRC
	CRC521865AX3
	2,964,000
	2,964,000
	3,115,905
	3,115,905
	3.04
	 Corporates 
	 Industrials 
	 Baa3 
	 BBB 

	58013MEZ3
	MCDONALDS CORPORATION MTN
	Hartford Life Insurance Company
	LC2
	LC258013MEZ3
	2,353,465
	2,353,465
	2,413,300
	2,489,768
	18.44
	 Corporates 
	 Industrial 
	 Baa1 
	 BBB 

	228227BD5
	CROWN CASTLE INTERNATIONAL CORP
	Hartford Life Insurance Company
	CRC
	CRC228227BD5
	8,183,000
	8,183,000
	8,806,954
	8,806,954
	6.04
	 Corporates 
	 Industrials 
	 BBB- 
	 BBB 

	219868BN5
	CORPORACION ANDINA DE FOMENTO
	Hartford Life Insurance Company
	CRC
	CRC219868BN5
	3,340,000
	3,340,000
	3,780,780
	3,780,780
	2.43
	 EM 
	 EM 
	 AA- 
	 AA 

	36201BBR6
	Ginnie Agency MBS
	Hartford Life Insurance Company
	CRC
	CRC36201BBR6
	5,104,087
	32,929
	35,399
	35,399
	5.58
	 MBS 
	 MBS 
	 Govt 
	 govt 

	210518CS3
	CONSUMERS ENERGY CO
	Hartford Life Insurance Company
	CRC
	CRC210518CS3
	10,000,000
	10,000,000
	11,242,980
	11,242,980
	2.71
	 Corporates 
	 Utilities 
	 A1 
	 A 

	585055BU9
	MEDTRONIC INC
	Hartford Life Insurance Company
	LC2
	LC2585055BU9
	3,541,700
	3,541,700
	3,532,521
	3,830,069
	28.21
	 Corporates 
	 Industrial 
	 A3 
	 A 

	84861AAA7
	SPMF_14-3A       A 144A
	Hartford Life Insurance Company
	LC2
	LC284861AAA7
	33,934,279
	33,812,397
	33,851,571
	35,296,389
	5.20
	 ABS 
	 Small Business 
	 A+ 
	 A 

	775109BB6
	ROGERS COMMUNICATIONS INC.
	Hartford Life Insurance Company
	LC2
	LC2775109BB6
	5,335,555
	5,335,555
	5,322,778
	5,707,449
	26.71
	 Corporates 
	 Industrial 
	 BBB+ 
	 BBB 

	31297BAK8
	Freddie /Fannie Agency MBS
	Hartford Life Insurance Company
	CRC
	CRC31297BAK8
	400,000
	33,919
	36,924
	36,924
	5.18
	 MBS 
	 MBS 
	 Govt 
	 govt 

	BHM01J6D1
	WELLS FARGO-WACHOVIA BANK  Prvt
	Hartford Life Insurance Company
	LC2
	LC2BHM01J6D1
	11,079,369
	8,030,803
	8,030,803
	8,707,077
	3.24
	 Corporates 
	 Financial 
	 A2 
	 A 

	B0A0A7ZT0
	EIRE JACKSONVILE FLA LLC LEASE BA Prvt
	Hartford Life Insurance Company
	LC2
	LC2B0A0A7ZT0
	14,573,017
	6,499,130
	6,499,130
	7,250,625
	2.00
	 Corporates 
	 Industrial 
	 Baa1 
	 BBB 

	126650AY6
	WELLS FARGO BANK NW (CVS 02 CTL) S Prvt
	Hartford Life Insurance Company
	LC2
	LC2126650AY6
	5,350,000
	2,585,771
	2,585,771
	2,857,380
	6.91
	 Corporates 
	 Industrial 
	 Baa1 
	 BBB 

	88160QAM5
	TESORO LOGISTICS LP
	Hartford Life Insurance Company
	CRC
	CRC88160QAM5
	1,784,000
	1,784,000
	1,908,880
	1,908,880
	5.34
	 BIG Corporates 
	 HY Industrials 
	 Ba3 
	 BIG 

	88160QAM5
	TESORO LOGISTICS LP
	Hartford Life Insurance Company
	LC2
	LC288160QAM5
	1,987,000
	1,987,000
	2,132,770
	2,126,090
	5.34
	 BIG Corporates 
	 HY Industrials 
	 Ba3 
	 BIG 

	126117AR1
	CNA FINANCIAL CORP
	Hartford Life Insurance Company
	LC2
	LC2126117AR1
	2,703,890
	2,703,890
	2,707,019
	3,020,507
	4.63
	 Corporates 
	 Financial 
	 BBB 
	 BBB 

	BHM1CVL68
	KAZAKHSTAN (REPUBLIC OF) MTN RegS
	Hartford Life Insurance Company
	CRC
	CRCBHM1CVL68
	1,000,000
	1,000,000
	1,068,408
	1,068,408
	8.56
	 EM 
	 EM 
	 BBB- 
	 BBB 

	785592AD8
	SABINE PASS LIQUEFACTION LLC
	Hartford Life Insurance Company
	CRC
	CRC785592AD8
	4,276,000
	4,276,000
	4,543,250
	4,543,250
	6.04
	 BIG Corporates 
	 HY Industrials 
	 Ba1 
	 BIG 

	BHM1K9NK5
	MICHIGAN CONSOLIDATED GAS COMPANY Prvt
	Hartford Life Insurance Company
	CRC
	CRCBHM1K9NK5
	4,000,000
	4,000,000
	4,514,920
	4,514,920
	3.67
	 Corporates 
	 Utilities 
	 A3 
	 A 

	539830BL2
	LOCKHEED MARTIN CORPORATION
	Hartford Life Insurance Company
	LC2
	LC2539830BL2
	2,140,000
	2,140,000
	2,108,834
	2,327,734
	28.88
	 Corporates 
	 Industrial 
	 BBB+ 
	 BBB 

	31383MQB2
	Govt
	Hartford Life Insurance Company
	LC2
	LC231383MQB2
	2,140,214
	31,782
	32,230
	34,947
	2.95
	 MBS 
	 MBS 
	 Govt 
	 Govt 

	126650BP4
	CVS PASSTHROUGH TRUST
	Hartford Life Insurance Company
	LC2
	LC2126650BP4
	3,745,000
	2,614,571
	2,541,084
	2,931,188
	6.64
	 Corporates 
	 Industrial 
	 Baa1 
	 BBB 

	95709TAK6
	WESTAR ENERGY INC
	Hartford Life Insurance Company
	LC2
	LC295709TAK6
	2,675,000
	2,675,000
	2,674,950
	2,866,525
	26.17
	 Corporates 
	 Utilities 
	 A 
	 A 

	
														
	445545AH9
	HUNGARY (REPUBLIC OF)
	Hartford Life Insurance Company
	CRC
	CRC445545AH9
	2,100,000
	2,100,000
	2,276,085
	2,276,085
	6.14
	 EM 
	 EM 
	 BBB- 
	 BBB 

	3620A9SH5
	Ginnie Agency MBS
	Hartford Life Insurance Company
	CRC
	CRC3620A9SH5
	9,391,819
	2,499,175
	2,780,910
	2,780,910
	6.92
	 MBS 
	 MBS 
	 Govt 
	 govt 

	75405UAA4
	RAS LNG 3         144A
	Hartford Life Insurance Company
	LC2
	LC275405UAA4
	10,833,750
	10,833,750
	10,377,545
	12,079,631
	8.07
	 Corporates 
	 Non-Corp 
	 A+ 
	 A 

	444454AA0
	HUGHES SATELLITE SYSTEMS CORP
	Hartford Life Insurance Company
	CRC
	CRC444454AA0
	1,150,000
	1,150,000
	1,262,125
	1,262,125
	4.46
	 BIG Corporates 
	 HY Industrials 
	 B3 
	 BIG 

	31400JPF0
	Freddie /Fannie Agency MBS
	Hartford Life Insurance Company
	CRC
	CRC31400JPF0
	92,543
	3,395
	3,719
	3,719
	5.04
	 MBS 
	 MBS 
	 Govt 
	 govt 

	BHM0K0385
	CROATIA REPUBLIC OF (GOVERNMENT) RegS
	Hartford Life Insurance Company
	CRC
	CRCBHM0K0385
	1,060,000
	1,060,000
	1,152,750
	1,152,750
	4.23
	 EM 
	 EM 
	 BB 
	 BIG 

	31408AAK6
	Freddie /Fannie Agency MBS
	Hartford Life Insurance Company
	CRC
	CRC31408AAK6
	45,112
	1,369
	1,494
	1,494
	4.90
	 MBS 
	 MBS 
	 Govt 
	 govt 

	878091BD8
	TEACHERS INSURANCE AND ANNUITY 144A
	Hartford Life Insurance Company
	LC2
	LC2878091BD8
	3,629,975
	3,629,975
	3,626,720
	3,926,751
	27.71
	 Corporates 
	 Financial 
	 AA- 
	 AA  

	31402KCE2
	Freddie /Fannie Agency MBS
	Hartford Life Insurance Company
	CRC
	CRC31402KCE2
	97,760
	4,701
	5,139
	5,139
	5.04
	 MBS 
	 MBS 
	 Govt 
	 govt 

	31416BVH8
	Freddie /Fannie Agency MBS
	Hartford Life Insurance Company
	CRC
	CRC31416BVH8
	327,038
	24,708
	27,125
	27,125
	5.11
	 MBS 
	 MBS 
	 Govt 
	 govt 

	31402EAQ1
	Freddie /Fannie Agency MBS
	Hartford Life Insurance Company
	CRC
	CRC31402EAQ1
	435,000
	8,892
	9,706
	9,706
	5.04
	 MBS 
	 MBS 
	 Govt 
	 govt 

	31400JSJ9
	Freddie /Fannie Agency MBS
	Hartford Life Insurance Company
	CRC
	CRC31400JSJ9
	140,000
	5,741
	6,251
	6,251
	5.04
	 MBS 
	 MBS 
	 Govt 
	 govt 

	883203BS9
	TEXTRON INC
	Hartford Life Insurance Company
	CRC
	CRC883203BS9
	4,290,000
	4,290,000
	4,774,954
	4,774,954
	4.47
	 Corporates 
	 Industrials 
	 Baa3 
	 BBB 

	58013MEK6
	MCDONALDS CORPORATION
	Hartford Life Insurance Company
	LC2
	LC258013MEK6
	2,918,425
	2,918,425
	2,899,905
	3,083,943
	23.54
	 Corporates 
	 Industrial 
	 Baa1 
	 BBB 

	36202FB47
	Ginnie Agency MBS
	Hartford Life Insurance Company
	CRC
	CRC36202FB47
	2,847,526
	486,401
	539,114
	539,114
	6.41
	 MBS 
	 MBS 
	 Govt 
	 govt 

	73358WJA3
	PORT AUTHORITY OF NEW YORK AND NEW
	Hartford Life Insurance Company
	LC2
	LC273358WJA3
	3,477,500
	3,477,500
	3,342,958
	3,517,144
	41.25
	 Corporates 
	 Tax Muni 
	 AA- 
	 AA  

	595112BG7
	MICRON TECHNOLOGY INC      144A
	Hartford Life Insurance Company
	CRC
	CRC595112BG7
	1,144,000
	1,144,000
	1,133,990
	1,133,990
	9.04
	 BIG Corporates 
	 HY Industrials 
	 Ba3 
	 BIG 

	530715AJ0
	LIBERTY INTERACTIVE LLC
	Hartford Life Insurance Company
	CRC
	CRC530715AJ0
	1,270,000
	1,270,000
	1,352,550
	1,352,550
	13.09
	 BIG Corporates 
	 HY Industrials 
	 BB 
	 BIG 

	40429CGD8
	HSBC FINANCE CORP
	Hartford Life Insurance Company
	CRC
	CRC40429CGD8
	4,202,000
	4,202,000
	4,723,220
	4,723,220
	4.04
	 Corporates 
	 Financials 
	 A- 
	 A 

	BHM0JZ7U7
	LITHUANIA REPUBLIC OF (GOVERNMENT RegS
	Hartford Life Insurance Company
	CRC
	CRCBHM0JZ7U7
	1,610,000
	1,610,000
	1,803,200
	1,803,200
	4.19
	 EM 
	 EM 
	 A- 
	 A 

	66989HAH1
	NOVARTIS CAPITAL CORP
	Hartford Life Insurance Company
	LC2
	LC266989HAH1
	5,885,000
	5,885,000
	5,839,970
	6,346,619
	27.35
	 Corporates 
	 Industrial 
	 AA- 
	 AA  

	03938LAX2
	ARCELORMITTAL SA
	Hartford Life Insurance Company
	CRC
	CRC03938LAX2
	2,394,000
	2,394,000
	2,699,235
	2,699,235
	5.15
	 BIG Corporates 
	 HY Industrials 
	 BB 
	 BIG 

	445545AE6
	HUNGARY (REPUBLIC OF)
	Hartford Life Insurance Company
	CRC
	CRC445545AE6
	1,720,000
	1,720,000
	1,925,987
	1,925,987
	4.25
	 EM 
	 EM 
	 BBB- 
	 BBB 

	36213EYA8
	Ginnie Agency MBS
	Hartford Life Insurance Company
	CRC
	CRC36213EYA8
	5,623,806
	49,243
	54,859
	54,859
	5.58
	 MBS 
	 MBS 
	 Govt 
	 govt 

	68241FAA0
	OLCMT_04-C3     A1 144A
	Hartford Life Insurance Company
	LC2
	LC268241FAA0
	12,305,000
	12,305,000
	12,344,733
	14,289,797
	5.14
	 CMBS 
	 CMBS 
	 AA+ 
	 AA  

	31296NKW6
	Freddie /Fannie Agency MBS
	Hartford Life Insurance Company
	CRC
	CRC31296NKW6
	4,311,096
	206,018
	229,430
	229,430
	4.96
	 MBS 
	 MBS 
	 Govt 
	 govt 

	31296NGG6
	Freddie /Fannie Agency MBS
	Hartford Life Insurance Company
	CRC
	CRC31296NGG6
	36,000,000
	4,251,722
	4,729,662
	4,729,662
	5.09
	 MBS 
	 MBS 
	 Govt 
	 govt 

	30161NAQ4
	EXELON CORPORATION
	Hartford Life Insurance Company
	LC2
	LC230161NAQ4
	4,865,825
	4,865,825
	4,852,939
	5,162,193
	17.96
	 Corporates 
	 Utilities 
	 Baa2 
	 BBB 

	31405STM6
	Freddie /Fannie Agency MBS
	Hartford Life Insurance Company
	CRC
	CRC31405STM6
	18,268,282
	308,192
	342,427
	342,427
	4.98
	 MBS 
	 MBS 
	 Govt 
	 govt 

	31407DWC5
	Freddie /Fannie Agency MBS
	Hartford Life Insurance Company
	CRC
	CRC31407DWC5
	569,041
	34,207
	37,990
	37,990
	4.79
	 MBS 
	 MBS 
	 Govt 
	 govt 

	31407KTV1
	Freddie /Fannie Agency MBS
	Hartford Life Insurance Company
	CRC
	CRC31407KTV1
	570,849
	16,101
	17,885
	17,885
	4.79
	 MBS 
	 MBS 
	 Govt 
	 govt 

	
														
	31415WCV3
	Freddie /Fannie Agency MBS
	Hartford Life Insurance Company
	CRC
	CRC31415WCV3
	919,603
	10,092
	11,208
	11,208
	4.47
	 MBS 
	 MBS 
	 Govt 
	 govt 

	31408XRK8
	Freddie /Fannie Agency MBS
	Hartford Life Insurance Company
	CRC
	CRC31408XRK8
	500,000
	10,396
	11,546
	11,546
	4.31
	 MBS 
	 MBS 
	 Govt 
	 govt 

	31401MBK6
	Freddie /Fannie Agency MBS
	Hartford Life Insurance Company
	CRC
	CRC31401MBK6
	12,217,603
	474,092
	533,760
	533,760
	4.91
	 MBS 
	 MBS 
	 Govt 
	 govt 

	12189LAX9
	BURLINGTON NORTHERN SANTA FE LLC
	Hartford Life Insurance Company
	LC2
	LC212189LAX9
	5,350,000
	5,350,000
	5,327,803
	5,855,650
	28.17
	 Corporates 
	 Industrial 
	 A3 
	 A 

	03938LAZ7
	ARCELORMITTAL
	Hartford Life Insurance Company
	CRC
	CRC03938LAZ7
	927,000
	927,000
	1,015,065
	1,015,065
	8.42
	 BIG Corporates 
	 HY Industrials 
	 BB 
	 BIG 

	03938JAA7
	ARCH CAPITAL GROUP US INC
	Hartford Life Insurance Company
	LC2
	LC203938JAA7
	5,136,000
	5,136,000
	5,144,590
	5,422,738
	26.84
	 Corporates 
	 Financial 
	 A- 
	 A 

	31297AQZ0
	Freddie /Fannie Agency MBS
	Hartford Life Insurance Company
	CRC
	CRC31297AQZ0
	1,001,964
	76,202
	85,922
	85,922
	5.06
	 MBS 
	 MBS 
	 Govt 
	 govt 

	31407TRG7
	Freddie /Fannie Agency MBS
	Hartford Life Insurance Company
	CRC
	CRC31407TRG7
	502,431
	30,678
	34,394
	34,394
	4.79
	 MBS 
	 MBS 
	 Govt 
	 govt 

	31408YMG0
	Freddie /Fannie Agency MBS
	Hartford Life Insurance Company
	CRC
	CRC31408YMG0
	587,824
	20,405
	22,690
	22,690
	4.79
	 MBS 
	 MBS 
	 Govt 
	 govt 

	31297A6E9
	Freddie /Fannie Agency MBS
	Hartford Life Insurance Company
	CRC
	CRC31297A6E9
	1,000,952
	85,562
	96,249
	96,249
	5.06
	 MBS 
	 MBS 
	 Govt 
	 govt 

	552081AK7
	LYONDELLBASELL INDUSTRIES NV
	Hartford Life Insurance Company
	CRC
	CRC552081AK7
	4,000,000
	4,000,000
	4,577,712
	4,577,712
	7.04
	 Corporates 
	 Industrials 
	 BBB 
	 BBB 

	31402VYD6
	Freddie /Fannie Agency MBS
	Hartford Life Insurance Company
	CRC
	CRC31402VYD6
	3,037,815
	303,690
	341,964
	341,964
	4.91
	 MBS 
	 MBS 
	 Govt 
	 govt 

	31407VVA0
	Freddie /Fannie Agency MBS
	Hartford Life Insurance Company
	CRC
	CRC31407VVA0
	575,159
	46,958
	52,408
	52,408
	4.79
	 MBS 
	 MBS 
	 Govt 
	 govt 

	36213GAL5
	Ginnie Agency MBS
	Hartford Life Insurance Company
	CRC
	CRC36213GAL5
	2,380,733
	32,673
	35,463
	35,463
	5.58
	 MBS 
	 MBS 
	 Govt 
	 govt 

	31408XQF0
	Freddie /Fannie Agency MBS
	Hartford Life Insurance Company
	CRC
	CRC31408XQF0
	1,001,183
	58,516
	65,512
	65,512
	4.31
	 MBS 
	 MBS 
	 Govt 
	 govt 

	31409C3W3
	Freddie /Fannie Agency MBS
	Hartford Life Insurance Company
	CRC
	CRC31409C3W3
	504,558
	48,467
	53,846
	53,846
	4.31
	 MBS 
	 MBS 
	 Govt 
	 govt 

	31407RVY7
	Freddie /Fannie Agency MBS
	Hartford Life Insurance Company
	CRC
	CRC31407RVY7
	874,120
	14,663
	16,414
	16,414
	4.79
	 MBS 
	 MBS 
	 Govt 
	 govt 

	31405SFX7
	Freddie /Fannie Agency MBS
	Hartford Life Insurance Company
	CRC
	CRC31405SFX7
	91,799
	6,183
	6,915
	6,915
	4.79
	 MBS 
	 MBS 
	 Govt 
	 govt 

	65473QAV5
	NISOURCE FINANCE CORPORATION
	Hartford Life Insurance Company
	CRC
	CRC65473QAV5
	5,647,000
	5,647,000
	6,512,499
	6,512,499
	5.17
	 Corporates 
	 Utilities 
	 BBB 
	 BBB 

	31407YES4
	Freddie /Fannie Agency MBS
	Hartford Life Insurance Company
	CRC
	CRC31407YES4
	880,884
	39,709
	44,187
	44,187
	4.79
	 MBS 
	 MBS 
	 Govt 
	 govt 

	31409FJQ2
	Freddie /Fannie Agency MBS
	Hartford Life Insurance Company
	CRC
	CRC31409FJQ2
	416,231
	38,723
	43,297
	43,297
	4.31
	 MBS 
	 MBS 
	 Govt 
	 govt 

	31407PW38
	Freddie /Fannie Agency MBS
	Hartford Life Insurance Company
	CRC
	CRC31407PW38
	205,539
	6,948
	7,773
	7,773
	4.79
	 MBS 
	 MBS 
	 Govt 
	 govt 

	31405VD38
	Freddie /Fannie Agency MBS
	Hartford Life Insurance Company
	CRC
	CRC31405VD38
	9,275,251
	761,604
	854,948
	854,948
	4.98
	 MBS 
	 MBS 
	 Govt 
	 govt 

	31407V3P8
	Freddie /Fannie Agency MBS
	Hartford Life Insurance Company
	CRC
	CRC31407V3P8
	137,493
	6,378
	7,143
	7,143
	4.79
	 MBS 
	 MBS 
	 Govt 
	 govt 

	02209SAR4
	ALTRIA GROUP INC.
	Hartford Life Insurance Company
	LC2
	LC202209SAR4
	2,675,000
	2,675,000
	2,664,127
	3,089,951
	27.08
	 Corporates 
	 Industrial 
	 A3 
	 A 

	31408CT97
	Freddie /Fannie Agency MBS
	Hartford Life Insurance Company
	CRC
	CRC31408CT97
	570,651
	47,519
	52,997
	52,997
	4.79
	 MBS 
	 MBS 
	 Govt 
	 govt 

	12189TAQ7
	BURLINGTON NORTHERN SANTA FE CORP
	Hartford Life Insurance Company
	LC2
	LC212189TAQ7
	2,140,000
	2,140,000
	2,203,164
	2,515,499
	3.29
	 Corporates 
	 Industrial 
	 A3 
	 A 

	31407CKC0
	Freddie /Fannie Agency MBS
	Hartford Life Insurance Company
	CRC
	CRC31407CKC0
	538,385
	30,648
	34,179
	34,179
	4.79
	 MBS 
	 MBS 
	 Govt 
	 govt 

	24820RAB4
	STATOIL ASA       144A
	Hartford Life Insurance Company
	LC2
	LC224820RAB4
	2,140,000
	2,140,000
	2,284,917
	2,456,099
	6.98
	 Corporates 
	 Non-Corp 
	 A+ 
	 A 

	31407LFY8
	Freddie /Fannie Agency MBS
	Hartford Life Insurance Company
	CRC
	CRC31407LFY8
	571,129
	19,934
	22,172
	22,172
	4.79
	 MBS 
	 MBS 
	 Govt 
	 govt 

	B0A0GB8L2
	LEGG MASON MTGE CAPITAL (WALGREEN) Prvt
	Hartford Life Insurance Company
	CRC
	CRCB0A0GB8L2
	10,000,000
	6,263,421
	7,075,223
	7,075,223
	5.92
	 Corporates 
	 Industrials 
	 Baa3 
	 BBB 

	
														
	31416CAR7
	Freddie /Fannie Agency MBS
	Hartford Life Insurance Company
	CRC
	CRC31416CAR7
	10,200,000
	875,040
	981,136
	981,136
	4.91
	 MBS 
	 MBS 
	 Govt 
	 govt 

	65473QBB8
	NISOURCE FINANCE CORPORATION
	Hartford Life Insurance Company
	LC2
	LC265473QBB8
	2,127,160
	2,127,160
	2,467,837
	2,353,549
	25.63
	 Corporates 
	 Utilities 
	 BBB 
	 BBB 

	84263PAM2
	SOUTHERN CONNECTICUT GAS CO MTN 144A
	Hartford Life Insurance Company
	LC2
	LC284263PAM2
	8,025,000
	8,025,000
	8,025,000
	9,100,125
	8.84
	 Corporates 
	 Utilities 
	 A 
	 A 

	31391XQX0
	Freddie /Fannie Agency MBS
	Hartford Life Insurance Company
	CRC
	CRC31391XQX0
	6,105,156
	331,557
	375,083
	375,083
	4.73
	 MBS 
	 MBS 
	 Govt 
	 govt 

	31296XHJ7
	Freddie /Fannie Agency MBS
	Hartford Life Insurance Company
	CRC
	CRC31296XHJ7
	1,576,238
	112,843
	127,277
	127,277
	5.06
	 MBS 
	 MBS 
	 Govt 
	 govt 

	31402RUN7
	Freddie /Fannie Agency MBS
	Hartford Life Insurance Company
	CRC
	CRC31402RUN7
	25,430,000
	1,216,474
	1,364,176
	1,364,176
	4.91
	 MBS 
	 MBS 
	 Govt 
	 govt 

	31418MA28
	Freddie /Fannie Agency MBS
	Hartford Life Insurance Company
	CRC
	CRC31418MA28
	7,538,786
	823,417
	923,548
	923,548
	4.98
	 MBS 
	 MBS 
	 Govt 
	 govt 

	31292GTN6
	Govt
	Hartford Life Insurance Company
	LC2
	LC231292GTN6
	6,152,495
	18,922
	19,289
	21,094
	3.45
	 MBS 
	 MBS 
	 Govt 
	 Govt 

	31403AZ57
	Freddie /Fannie Agency MBS
	Hartford Life Insurance Company
	CRC
	CRC31403AZ57
	13,900,000
	986,639
	1,118,569
	1,118,569
	4.91
	 MBS 
	 MBS 
	 Govt 
	 govt 

	682439AE4
	AACMT_05-C6A    A3 144A
	Hartford Life Insurance Company
	LC2
	LC2682439AE4
	8,359,375
	8,359,375
	8,387,431
	9,743,019
	13.24
	 CMBS 
	 CMBS 
	 AAA 
	 AAA 

	655422AV5
	GLENCORE CANADA CORP
	Hartford Life Insurance Company
	LC2
	LC2655422AV5
	1,605,000
	1,605,000
	1,760,694
	1,636,846
	18.46
	 Corporates 
	 Industrial 
	 Baa3 
	 BBB 

	030288AB0
	AMERICAN TRANSMISSION SYSTEMS INC 144A
	Hartford Life Insurance Company
	LC2
	LC2030288AB0
	6,687,500
	6,687,500
	6,623,392
	6,992,336
	27.17
	 Corporates 
	 Utilities 
	 BBB- 
	 BBB 

	31405VAT4
	Freddie /Fannie Agency MBS
	Hartford Life Insurance Company
	CRC
	CRC31405VAT4
	10,006,742
	1,128,195
	1,263,619
	1,263,619
	4.98
	 MBS 
	 MBS 
	 Govt 
	 govt 

	458140AK6
	INTEL CORPORATION
	Hartford Life Insurance Company
	LC2
	LC2458140AK6
	9,737,000
	9,737,000
	9,358,140
	10,718,752
	24.75
	 Corporates 
	 Industrial 
	 A+ 
	 A 

	31403HYK0
	Freddie /Fannie Agency MBS
	Hartford Life Insurance Company
	CRC
	CRC31403HYK0
	15,863,238
	1,185,871
	1,337,455
	1,337,455
	4.91
	 MBS 
	 MBS 
	 Govt 
	 govt 

	31400JRY7
	Freddie /Fannie Agency MBS
	Hartford Life Insurance Company
	CRC
	CRC31400JRY7
	12,250,000
	712,120
	807,907
	807,907
	4.91
	 MBS 
	 MBS 
	 Govt 
	 govt 

	31292GY59
	Govt
	Hartford Life Insurance Company
	LC2
	LC231292GY59
	239,145
	1,547
	1,577
	1,801
	3.95
	 MBS 
	 MBS 
	 Govt 
	 Govt 

	293791AT6
	ENTERPRISE PRODUCTS OPERATING  LLC
	Hartford Life Insurance Company
	LC2
	LC2293791AT6
	3,156,500
	3,156,500
	3,076,185
	3,447,498
	18.17
	 Corporates 
	 Industrial 
	 BBB+ 
	 BBB 

	BHM0K4486
	MERRITT INDUSTR   PN Prvt
	Hartford Life Insurance Company
	CRC
	CRCBHM0K4486
	8,223,495
	7,718,592
	8,653,725
	8,653,725
	8.43
	 CML 
	 CML 
	 A1 
	 A 

	BHM0K4486
	MERRITT INDUSTR   PN Prvt
	Hartford Life Insurance Company
	LC2
	LC2BHM0K4486
	23,026,505
	21,612,732
	21,612,732
	24,231,186
	8.43
	 CML 
	 CML 
	 A1 
	 A 

	761713BA3
	REYNOLDS AMERICAN INC
	Hartford Life Insurance Company
	LC2
	LC2761713BA3
	4,954,100
	4,954,100
	4,933,146
	5,690,472
	18.13
	 Corporates 
	 Industrial 
	 BBB 
	 BBB 

	31296NLC9
	Freddie /Fannie Agency MBS
	Hartford Life Insurance Company
	CRC
	CRC31296NLC9
	16,240,289
	997,221
	1,131,674
	1,131,674
	4.96
	 MBS 
	 MBS 
	 Govt 
	 govt 

	487312AA8
	KEENAN FT  DETRICK ENERGY 144A
	Hartford Life Insurance Company
	LC2
	LC2487312AA8
	9,563,125
	7,807,270
	7,807,270
	8,774,560
	9.71
	 Corporates 
	 Tax Muni 
	 AA 
	 AA  

	31412NSL1
	Freddie /Fannie Agency MBS
	Hartford Life Insurance Company
	CRC
	CRC31412NSL1
	1,154,980
	61,652
	69,748
	69,748
	4.56
	 MBS 
	 MBS 
	 Govt 
	 govt 

	31418UZ64
	Freddie /Fannie Agency MBS
	Hartford Life Insurance Company
	CRC
	CRC31418UZ64
	1,093,885
	219,989
	248,895
	248,895
	5.20
	 MBS 
	 MBS 
	 Govt 
	 govt 

	207758KM4
	CONNECTICUT ST SPL TAX OBLIG
	Hartford Life Insurance Company
	LC2
	LC2207758KM4
	5,130,650
	5,130,650
	5,130,650
	5,979,721
	11.05
	 Corporates 
	 Tax Muni 
	 AA- 
	 AA  

	478375AJ7
	JOHNSON CONTROLS INTERNATIONAL PLC
	Hartford Life Insurance Company
	LC2
	LC2478375AJ7
	4,461,900
	4,461,900
	4,427,807
	5,058,246
	24.17
	 Corporates 
	 Industrial 
	 BBB+ 
	 BBB 

	552953BX8
	MGM RESORTS INTERNATIONAL
	Hartford Life Insurance Company
	CRC
	CRC552953BX8
	1,428,000
	1,428,000
	1,642,200
	1,642,200
	5.21
	 BIG Corporates 
	 HY Industrials 
	 BB- 
	 BIG 

	31410C2M3
	Freddie /Fannie Agency MBS
	Hartford Life Insurance Company
	CRC
	CRC31410C2M3
	9,465,041
	552,615
	625,190
	625,190
	4.32
	 MBS 
	 MBS 
	 Govt 
	 govt 

	31410XB88
	Freddie /Fannie Agency MBS
	Hartford Life Insurance Company
	CRC
	CRC31410XB88
	11,247,158
	497,063
	563,458
	563,458
	4.32
	 MBS 
	 MBS 
	 Govt 
	 govt 

	31368HK28
	Freddie /Fannie Agency MBS
	Hartford Life Insurance Company
	CRC
	CRC31368HK28
	8,146,783
	33,137
	38,532
	38,532
	4.35
	 MBS 
	 MBS 
	 Govt 
	 govt 

	
														
	31371FUG5
	Freddie /Fannie Agency MBS
	Hartford Life Insurance Company
	CRC
	CRC31371FUG5
	78,593
	428
	484
	484
	3.49
	 MBS 
	 MBS 
	 Govt 
	 govt 

	31371GMR8
	Freddie /Fannie Agency MBS
	Hartford Life Insurance Company
	CRC
	CRC31371GMR8
	12,842,407
	45,945
	52,258
	52,258
	3.66
	 MBS 
	 MBS 
	 Govt 
	 govt 

	31371HCR7
	Freddie /Fannie Agency MBS
	Hartford Life Insurance Company
	CRC
	CRC31371HCR7
	83,531
	444
	503
	503
	3.66
	 MBS 
	 MBS 
	 Govt 
	 govt 

	31371HX94
	Freddie /Fannie Agency MBS
	Hartford Life Insurance Company
	CRC
	CRC31371HX94
	91,005
	631
	714
	714
	3.82
	 MBS 
	 MBS 
	 Govt 
	 govt 

	31371KBS9
	Freddie /Fannie Agency MBS
	Hartford Life Insurance Company
	CRC
	CRC31371KBS9
	32,885
	191
	221
	221
	4.35
	 MBS 
	 MBS 
	 Govt 
	 govt 

	31371KN49
	Freddie /Fannie Agency MBS
	Hartford Life Insurance Company
	CRC
	CRC31371KN49
	574,130
	6,838
	7,846
	7,846
	4.60
	 MBS 
	 MBS 
	 Govt 
	 govt 

	31371KYS4
	Freddie /Fannie Agency MBS
	Hartford Life Insurance Company
	CRC
	CRC31371KYS4
	1,466,393
	21,649
	24,493
	24,493
	4.60
	 MBS 
	 MBS 
	 Govt 
	 govt 

	31371KZC8
	Freddie /Fannie Agency MBS
	Hartford Life Insurance Company
	CRC
	CRC31371KZC8
	3,567,909
	70,363
	81,377
	81,377
	4.60
	 MBS 
	 MBS 
	 Govt 
	 govt 

	31374QZB4
	Freddie /Fannie Agency MBS
	Hartford Life Insurance Company
	CRC
	CRC31374QZB4
	221,095
	757
	857
	857
	2.98
	 MBS 
	 MBS 
	 Govt 
	 govt 

	31374TJV2
	Freddie /Fannie Agency MBS
	Hartford Life Insurance Company
	CRC
	CRC31374TJV2
	71,583
	346
	395
	395
	3.66
	 MBS 
	 MBS 
	 Govt 
	 govt 

	31374TRJ0
	Freddie /Fannie Agency MBS
	Hartford Life Insurance Company
	CRC
	CRC31374TRJ0
	7,867,670
	49,611
	56,128
	56,128
	3.82
	 MBS 
	 MBS 
	 Govt 
	 govt 

	31374Y2V9
	Freddie /Fannie Agency MBS
	Hartford Life Insurance Company
	CRC
	CRC31374Y2V9
	295,461
	4,443
	5,026
	5,026
	2.98
	 MBS 
	 MBS 
	 Govt 
	 govt 

	31376J2G3
	Freddie /Fannie Agency MBS
	Hartford Life Insurance Company
	CRC
	CRC31376J2G3
	545,981
	1,086
	1,229
	1,229
	4.60
	 MBS 
	 MBS 
	 Govt 
	 govt 

	31379E3G0
	Freddie /Fannie Agency MBS
	Hartford Life Insurance Company
	CRC
	CRC31379E3G0
	228,090
	527
	596
	596
	3.66
	 MBS 
	 MBS 
	 Govt 
	 govt 

	31379VUA5
	Freddie /Fannie Agency MBS
	Hartford Life Insurance Company
	CRC
	CRC31379VUA5
	35,000
	203
	229
	229
	3.66
	 MBS 
	 MBS 
	 Govt 
	 govt 

	31380TV81
	Freddie /Fannie Agency MBS
	Hartford Life Insurance Company
	CRC
	CRC31380TV81
	661,237
	2,738
	3,098
	3,098
	3.66
	 MBS 
	 MBS 
	 Govt 
	 govt 

	31380VD29
	Freddie /Fannie Agency MBS
	Hartford Life Insurance Company
	CRC
	CRC31380VD29
	189,971
	462
	523
	523
	3.66
	 MBS 
	 MBS 
	 Govt 
	 govt 

	31380YBY5
	Freddie /Fannie Agency MBS
	Hartford Life Insurance Company
	CRC
	CRC31380YBY5
	412,772
	5,219
	5,904
	5,904
	3.66
	 MBS 
	 MBS 
	 Govt 
	 govt 

	31381AMX6
	Freddie /Fannie Agency MBS
	Hartford Life Insurance Company
	CRC
	CRC31381AMX6
	3,000,000
	10,295
	11,648
	11,648
	3.66
	 MBS 
	 MBS 
	 Govt 
	 govt 

	31382GZJ9
	Freddie /Fannie Agency MBS
	Hartford Life Insurance Company
	CRC
	CRC31382GZJ9
	95,000
	1,220
	1,380
	1,380
	3.82
	 MBS 
	 MBS 
	 Govt 
	 govt 

	31382KPD4
	Freddie /Fannie Agency MBS
	Hartford Life Insurance Company
	CRC
	CRC31382KPD4
	45,541
	55
	62
	62
	3.82
	 MBS 
	 MBS 
	 Govt 
	 govt 

	31382RNY5
	Freddie /Fannie Agency MBS
	Hartford Life Insurance Company
	CRC
	CRC31382RNY5
	583,548
	2,213
	2,511
	2,511
	3.82
	 MBS 
	 MBS 
	 Govt 
	 govt 

	31382SE72
	Freddie /Fannie Agency MBS
	Hartford Life Insurance Company
	CRC
	CRC31382SE72
	59,132
	526
	595
	595
	3.82
	 MBS 
	 MBS 
	 Govt 
	 govt 

	31383DVT7
	Freddie /Fannie Agency MBS
	Hartford Life Insurance Company
	CRC
	CRC31383DVT7
	82,031
	496
	561
	561
	3.82
	 MBS 
	 MBS 
	 Govt 
	 govt 

	31383EFV8
	Freddie /Fannie Agency MBS
	Hartford Life Insurance Company
	CRC
	CRC31383EFV8
	47,864
	75
	84
	84
	3.82
	 MBS 
	 MBS 
	 Govt 
	 govt 

	31383M2L6
	Freddie /Fannie Agency MBS
	Hartford Life Insurance Company
	CRC
	CRC31383M2L6
	88,108
	398
	450
	450
	3.82
	 MBS 
	 MBS 
	 Govt 
	 govt 

	31384WG87
	Freddie /Fannie Agency MBS
	Hartford Life Insurance Company
	CRC
	CRC31384WG87
	48,074
	200
	230
	230
	4.35
	 MBS 
	 MBS 
	 Govt 
	 govt 

	31385HQR6
	Freddie /Fannie Agency MBS
	Hartford Life Insurance Company
	CRC
	CRC31385HQR6
	76,912
	299
	339
	339
	4.35
	 MBS 
	 MBS 
	 Govt 
	 govt 

	31385HSL7
	Freddie /Fannie Agency MBS
	Hartford Life Insurance Company
	CRC
	CRC31385HSL7
	141,383
	658
	763
	763
	4.35
	 MBS 
	 MBS 
	 Govt 
	 govt 

	31385HZE5
	Freddie /Fannie Agency MBS
	Hartford Life Insurance Company
	CRC
	CRC31385HZE5
	61,117
	298
	341
	341
	4.35
	 MBS 
	 MBS 
	 Govt 
	 govt 

	31385JJ82
	Freddie /Fannie Agency MBS
	Hartford Life Insurance Company
	CRC
	CRC31385JJ82
	36,487
	334
	378
	378
	3.66
	 MBS 
	 MBS 
	 Govt 
	 govt 

	
														
	31385JJD1
	Freddie /Fannie Agency MBS
	Hartford Life Insurance Company
	CRC
	CRC31385JJD1
	2,942,122
	25,107
	28,606
	28,606
	4.60
	 MBS 
	 MBS 
	 Govt 
	 govt 

	31385JJF6
	Freddie /Fannie Agency MBS
	Hartford Life Insurance Company
	CRC
	CRC31385JJF6
	2,179,506
	17,464
	20,373
	20,373
	4.60
	 MBS 
	 MBS 
	 Govt 
	 govt 

	31385JK64
	Freddie /Fannie Agency MBS
	Hartford Life Insurance Company
	CRC
	CRC31385JK64
	3,725,812
	35,246
	41,051
	41,051
	4.60
	 MBS 
	 MBS 
	 Govt 
	 govt 

	31385JRL4
	Freddie /Fannie Agency MBS
	Hartford Life Insurance Company
	CRC
	CRC31385JRL4
	2,919,016
	22,991
	26,438
	26,438
	4.60
	 MBS 
	 MBS 
	 Govt 
	 govt 

	31385WQJ1
	Freddie /Fannie Agency MBS
	Hartford Life Insurance Company
	CRC
	CRC31385WQJ1
	98,339
	3,068
	3,471
	3,471
	4.17
	 MBS 
	 MBS 
	 Govt 
	 govt 

	31385WV63
	Freddie /Fannie Agency MBS
	Hartford Life Insurance Company
	CRC
	CRC31385WV63
	42,853
	569
	646
	646
	4.60
	 MBS 
	 MBS 
	 Govt 
	 govt 

	31385WYY9
	Freddie /Fannie Agency MBS
	Hartford Life Insurance Company
	CRC
	CRC31385WYY9
	28,320
	314
	362
	362
	4.60
	 MBS 
	 MBS 
	 Govt 
	 govt 

	31385WZ77
	Freddie /Fannie Agency MBS
	Hartford Life Insurance Company
	CRC
	CRC31385WZ77
	27,906
	382
	432
	432
	5.04
	 MBS 
	 MBS 
	 Govt 
	 govt 

	31385WZT9
	Freddie /Fannie Agency MBS
	Hartford Life Insurance Company
	CRC
	CRC31385WZT9
	28,198,027
	266,341
	304,920
	304,920
	4.35
	 MBS 
	 MBS 
	 Govt 
	 govt 

	31385XNP8
	Freddie /Fannie Agency MBS
	Hartford Life Insurance Company
	CRC
	CRC31385XNP8
	20,345,830
	441,543
	507,149
	507,149
	4.35
	 MBS 
	 MBS 
	 Govt 
	 govt 

	31386GJV6
	Freddie /Fannie Agency MBS
	Hartford Life Insurance Company
	CRC
	CRC31386GJV6
	112,460
	153
	173
	173
	4.35
	 MBS 
	 MBS 
	 Govt 
	 govt 

	31387BUY7
	Freddie /Fannie Agency MBS
	Hartford Life Insurance Company
	CRC
	CRC31387BUY7
	5,552,650
	16,341
	18,488
	18,488
	4.35
	 MBS 
	 MBS 
	 Govt 
	 govt 

	31387DUW7
	Freddie /Fannie Agency MBS
	Hartford Life Insurance Company
	CRC
	CRC31387DUW7
	685,265
	720
	814
	814
	4.35
	 MBS 
	 MBS 
	 Govt 
	 govt 

	31387EFJ1
	Freddie /Fannie Agency MBS
	Hartford Life Insurance Company
	CRC
	CRC31387EFJ1
	77,194
	395
	455
	455
	4.35
	 MBS 
	 MBS 
	 Govt 
	 govt 

	31387KK77
	Freddie /Fannie Agency MBS
	Hartford Life Insurance Company
	CRC
	CRC31387KK77
	1,243,575
	2,068
	2,340
	2,340
	4.35
	 MBS 
	 MBS 
	 Govt 
	 govt 

	31387QUP3
	Freddie /Fannie Agency MBS
	Hartford Life Insurance Company
	CRC
	CRC31387QUP3
	140,674
	724
	819
	819
	4.35
	 MBS 
	 MBS 
	 Govt 
	 govt 

	31387V4D8
	Freddie /Fannie Agency MBS
	Hartford Life Insurance Company
	CRC
	CRC31387V4D8
	63,549
	385
	436
	436
	4.35
	 MBS 
	 MBS 
	 Govt 
	 govt 

	31387WTE7
	Freddie /Fannie Agency MBS
	Hartford Life Insurance Company
	CRC
	CRC31387WTE7
	63,346
	86
	97
	97
	4.35
	 MBS 
	 MBS 
	 Govt 
	 govt 

	31388CMV9
	Freddie /Fannie Agency MBS
	Hartford Life Insurance Company
	CRC
	CRC31388CMV9
	121,286
	1,374
	1,555
	1,555
	4.35
	 MBS 
	 MBS 
	 Govt 
	 govt 

	31388KWY4
	Freddie /Fannie Agency MBS
	Hartford Life Insurance Company
	CRC
	CRC31388KWY4
	12,458,046
	92,445
	104,589
	104,589
	4.35
	 MBS 
	 MBS 
	 Govt 
	 govt 

	31388XTD6
	Freddie /Fannie Agency MBS
	Hartford Life Insurance Company
	CRC
	CRC31388XTD6
	214,206
	3,508
	3,968
	3,968
	4.60
	 MBS 
	 MBS 
	 Govt 
	 govt 

	31389AD26
	Freddie /Fannie Agency MBS
	Hartford Life Insurance Company
	CRC
	CRC31389AD26
	740,486
	68,767
	77,800
	77,800
	4.60
	 MBS 
	 MBS 
	 Govt 
	 govt 

	31389DYC5
	Freddie /Fannie Agency MBS
	Hartford Life Insurance Company
	CRC
	CRC31389DYC5
	4,451,967
	14,631
	16,554
	16,554
	4.35
	 MBS 
	 MBS 
	 Govt 
	 govt 

	31389GM49
	Freddie /Fannie Agency MBS
	Hartford Life Insurance Company
	CRC
	CRC31389GM49
	51,047
	187
	212
	212
	4.60
	 MBS 
	 MBS 
	 Govt 
	 govt 

	31389JVJ0
	Freddie /Fannie Agency MBS
	Hartford Life Insurance Company
	CRC
	CRC31389JVJ0
	44,758
	441
	513
	513
	4.60
	 MBS 
	 MBS 
	 Govt 
	 govt 

	31389NKH7
	Freddie /Fannie Agency MBS
	Hartford Life Insurance Company
	CRC
	CRC31389NKH7
	29,407
	154
	174
	174
	4.60
	 MBS 
	 MBS 
	 Govt 
	 govt 

	31389NTK1
	Freddie /Fannie Agency MBS
	Hartford Life Insurance Company
	CRC
	CRC31389NTK1
	28,101
	176
	199
	199
	4.60
	 MBS 
	 MBS 
	 Govt 
	 govt 

	31389S6W9
	Freddie /Fannie Agency MBS
	Hartford Life Insurance Company
	CRC
	CRC31389S6W9
	5,222,441
	27,077
	30,634
	30,634
	4.35
	 MBS 
	 MBS 
	 Govt 
	 govt 

	31389VMF1
	Freddie /Fannie Agency MBS
	Hartford Life Insurance Company
	CRC
	CRC31389VMF1
	135,368
	780
	883
	883
	4.60
	 MBS 
	 MBS 
	 Govt 
	 govt 

	31389WGN9
	Freddie /Fannie Agency MBS
	Hartford Life Insurance Company
	CRC
	CRC31389WGN9
	924,783
	32,266
	36,504
	36,504
	4.60
	 MBS 
	 MBS 
	 Govt 
	 govt 

	31390ABH2
	Freddie /Fannie Agency MBS
	Hartford Life Insurance Company
	CRC
	CRC31390ABH2
	2,716,325
	7,043
	7,968
	7,968
	4.60
	 MBS 
	 MBS 
	 Govt 
	 govt 

	
														
	31390ESP8
	Freddie /Fannie Agency MBS
	Hartford Life Insurance Company
	CRC
	CRC31390ESP8
	1,707,012
	2,660
	3,009
	3,009
	4.60
	 MBS 
	 MBS 
	 Govt 
	 govt 

	31390GPV3
	Freddie /Fannie Agency MBS
	Hartford Life Insurance Company
	CRC
	CRC31390GPV3
	70,474
	2,250
	2,546
	2,546
	4.60
	 MBS 
	 MBS 
	 Govt 
	 govt 

	31390JCP4
	Freddie /Fannie Agency MBS
	Hartford Life Insurance Company
	CRC
	CRC31390JCP4
	38,136
	252
	285
	285
	4.60
	 MBS 
	 MBS 
	 Govt 
	 govt 

	31390L3V6
	Freddie /Fannie Agency MBS
	Hartford Life Insurance Company
	CRC
	CRC31390L3V6
	126,920
	744
	841
	841
	4.60
	 MBS 
	 MBS 
	 Govt 
	 govt 

	31390MHU1
	Freddie /Fannie Agency MBS
	Hartford Life Insurance Company
	CRC
	CRC31390MHU1
	31,557
	429
	485
	485
	4.60
	 MBS 
	 MBS 
	 Govt 
	 govt 

	31390MVF8
	Freddie /Fannie Agency MBS
	Hartford Life Insurance Company
	CRC
	CRC31390MVF8
	29,761
	152
	172
	172
	4.60
	 MBS 
	 MBS 
	 Govt 
	 govt 

	31390PBX4
	Freddie /Fannie Agency MBS
	Hartford Life Insurance Company
	CRC
	CRC31390PBX4
	4,438,738
	27,656
	31,289
	31,289
	4.60
	 MBS 
	 MBS 
	 Govt 
	 govt 

	31390PGD3
	Freddie /Fannie Agency MBS
	Hartford Life Insurance Company
	CRC
	CRC31390PGD3
	3,749,903
	37,662
	42,609
	42,609
	4.60
	 MBS 
	 MBS 
	 Govt 
	 govt 

	31390PPL5
	Freddie /Fannie Agency MBS
	Hartford Life Insurance Company
	CRC
	CRC31390PPL5
	4,073,154
	21,521
	24,349
	24,349
	4.60
	 MBS 
	 MBS 
	 Govt 
	 govt 

	31390RFA6
	Freddie /Fannie Agency MBS
	Hartford Life Insurance Company
	CRC
	CRC31390RFA6
	45,869
	143
	162
	162
	4.60
	 MBS 
	 MBS 
	 Govt 
	 govt 

	31390SV81
	Freddie /Fannie Agency MBS
	Hartford Life Insurance Company
	CRC
	CRC31390SV81
	834,416
	23,410
	26,485
	26,485
	4.60
	 MBS 
	 MBS 
	 Govt 
	 govt 

	31390SWU1
	Freddie /Fannie Agency MBS
	Hartford Life Insurance Company
	CRC
	CRC31390SWU1
	37,195
	96
	109
	109
	4.60
	 MBS 
	 MBS 
	 Govt 
	 govt 

	31390T2Q1
	Freddie /Fannie Agency MBS
	Hartford Life Insurance Company
	CRC
	CRC31390T2Q1
	5,088,364
	30,269
	34,246
	34,246
	4.60
	 MBS 
	 MBS 
	 Govt 
	 govt 

	31390TUG2
	Freddie /Fannie Agency MBS
	Hartford Life Insurance Company
	CRC
	CRC31390TUG2
	26,108
	294
	333
	333
	4.60
	 MBS 
	 MBS 
	 Govt 
	 govt 

	31390TVF3
	Freddie /Fannie Agency MBS
	Hartford Life Insurance Company
	CRC
	CRC31390TVF3
	451,985
	2,420
	2,738
	2,738
	4.60
	 MBS 
	 MBS 
	 Govt 
	 govt 

	31390UXA9
	Freddie /Fannie Agency MBS
	Hartford Life Insurance Company
	CRC
	CRC31390UXA9
	1,627,411
	13,109
	14,831
	14,831
	4.60
	 MBS 
	 MBS 
	 Govt 
	 govt 

	31390W4C3
	Freddie /Fannie Agency MBS
	Hartford Life Insurance Company
	CRC
	CRC31390W4C3
	34,784
	231
	261
	261
	4.60
	 MBS 
	 MBS 
	 Govt 
	 govt 

	31390YR83
	Freddie /Fannie Agency MBS
	Hartford Life Insurance Company
	CRC
	CRC31390YR83
	1,555,935
	14,326
	16,208
	16,208
	4.60
	 MBS 
	 MBS 
	 Govt 
	 govt 

	31391AV22
	Freddie /Fannie Agency MBS
	Hartford Life Insurance Company
	CRC
	CRC31391AV22
	4,477,013
	54,151
	62,820
	62,820
	4.60
	 MBS 
	 MBS 
	 Govt 
	 govt 

	31391BMR5
	Freddie /Fannie Agency MBS
	Hartford Life Insurance Company
	CRC
	CRC31391BMR5
	29,024
	468
	529
	529
	4.60
	 MBS 
	 MBS 
	 Govt 
	 govt 

	31391FXX1
	Freddie /Fannie Agency MBS
	Hartford Life Insurance Company
	CRC
	CRC31391FXX1
	1,655,178
	60,641
	68,607
	68,607
	4.60
	 MBS 
	 MBS 
	 Govt 
	 govt 

	31391K5X1
	Freddie /Fannie Agency MBS
	Hartford Life Insurance Company
	CRC
	CRC31391K5X1
	34,178,545
	193,457
	224,727
	224,727
	4.60
	 MBS 
	 MBS 
	 Govt 
	 govt 

	31391LX75
	Freddie /Fannie Agency MBS
	Hartford Life Insurance Company
	CRC
	CRC31391LX75
	78,544
	367
	415
	415
	4.60
	 MBS 
	 MBS 
	 Govt 
	 govt 

	31391TWH7
	Freddie /Fannie Agency MBS
	Hartford Life Insurance Company
	CRC
	CRC31391TWH7
	26,956
	758
	857
	857
	4.60
	 MBS 
	 MBS 
	 Govt 
	 govt 

	31400EAV2
	Freddie /Fannie Agency MBS
	Hartford Life Insurance Company
	CRC
	CRC31400EAV2
	241,894
	8,558
	9,682
	9,682
	5.04
	 MBS 
	 MBS 
	 Govt 
	 govt 

	31400WRT9
	Freddie /Fannie Agency MBS
	Hartford Life Insurance Company
	CRC
	CRC31400WRT9
	655,062
	20,974
	23,729
	23,729
	5.04
	 MBS 
	 MBS 
	 Govt 
	 govt 

	31402C3V2
	Freddie /Fannie Agency MBS
	Hartford Life Insurance Company
	CRC
	CRC31402C3V2
	607,498
	18,661
	21,259
	21,259
	4.60
	 MBS 
	 MBS 
	 Govt 
	 govt 

	31402FG41
	Freddie /Fannie Agency MBS
	Hartford Life Insurance Company
	CRC
	CRC31402FG41
	637,305
	18,714
	21,173
	21,173
	4.60
	 MBS 
	 MBS 
	 Govt 
	 govt 

	31402VS43
	Freddie /Fannie Agency MBS
	Hartford Life Insurance Company
	CRC
	CRC31402VS43
	680,191
	27,988
	31,664
	31,664
	5.04
	 MBS 
	 MBS 
	 Govt 
	 govt 

	31403AYD1
	Freddie /Fannie Agency MBS
	Hartford Life Insurance Company
	CRC
	CRC31403AYD1
	582,160
	10,867
	12,295
	12,295
	5.04
	 MBS 
	 MBS 
	 Govt 
	 govt 

	31403BB85
	Freddie /Fannie Agency MBS
	Hartford Life Insurance Company
	CRC
	CRC31403BB85
	897,230
	73,695
	83,376
	83,376
	5.04
	 MBS 
	 MBS 
	 Govt 
	 govt 

	
														
	31403CPJ4
	Freddie /Fannie Agency MBS
	Hartford Life Insurance Company
	CRC
	CRC31403CPJ4
	1,284,337
	14,244
	16,115
	16,115
	5.04
	 MBS 
	 MBS 
	 Govt 
	 govt 

	31403NQC4
	Freddie /Fannie Agency MBS
	Hartford Life Insurance Company
	CRC
	CRC31403NQC4
	524,162
	18,933
	21,420
	21,420
	5.04
	 MBS 
	 MBS 
	 Govt 
	 govt 

	31403QQN3
	Freddie /Fannie Agency MBS
	Hartford Life Insurance Company
	CRC
	CRC31403QQN3
	52,435
	5,094
	5,763
	5,763
	4.94
	 MBS 
	 MBS 
	 Govt 
	 govt 

	31403RC89
	Freddie /Fannie Agency MBS
	Hartford Life Insurance Company
	CRC
	CRC31403RC89
	671,805
	67,503
	76,370
	76,370
	5.04
	 MBS 
	 MBS 
	 Govt 
	 govt 

	31403YLX9
	Freddie /Fannie Agency MBS
	Hartford Life Insurance Company
	CRC
	CRC31403YLX9
	512,639
	24,838
	28,101
	28,101
	5.04
	 MBS 
	 MBS 
	 Govt 
	 govt 

	31404CA67
	Freddie /Fannie Agency MBS
	Hartford Life Insurance Company
	CRC
	CRC31404CA67
	2,508,132
	100,609
	113,826
	113,826
	5.04
	 MBS 
	 MBS 
	 Govt 
	 govt 

	31404GYW5
	Freddie /Fannie Agency MBS
	Hartford Life Insurance Company
	CRC
	CRC31404GYW5
	369,768
	7,814
	8,840
	8,840
	4.94
	 MBS 
	 MBS 
	 Govt 
	 govt 

	31404KJM5
	Freddie /Fannie Agency MBS
	Hartford Life Insurance Company
	CRC
	CRC31404KJM5
	656,509
	24,507
	27,727
	27,727
	4.94
	 MBS 
	 MBS 
	 Govt 
	 govt 

	31404P3D1
	Freddie /Fannie Agency MBS
	Hartford Life Insurance Company
	CRC
	CRC31404P3D1
	49,412
	3,004
	3,399
	3,399
	4.94
	 MBS 
	 MBS 
	 Govt 
	 govt 

	31404QUM9
	Freddie /Fannie Agency MBS
	Hartford Life Insurance Company
	CRC
	CRC31404QUM9
	3,199,419
	73,515
	83,172
	83,172
	4.94
	 MBS 
	 MBS 
	 Govt 
	 govt 

	31404SA96
	Freddie /Fannie Agency MBS
	Hartford Life Insurance Company
	CRC
	CRC31404SA96
	315,730
	13,519
	15,294
	15,294
	4.94
	 MBS 
	 MBS 
	 Govt 
	 govt 

	31404UYC8
	Freddie /Fannie Agency MBS
	Hartford Life Insurance Company
	CRC
	CRC31404UYC8
	1,500,018
	35,148
	39,765
	39,765
	4.94
	 MBS 
	 MBS 
	 Govt 
	 govt 

	31404YSU7
	Freddie /Fannie Agency MBS
	Hartford Life Insurance Company
	CRC
	CRC31404YSU7
	635,556
	15,795
	17,870
	17,870
	4.94
	 MBS 
	 MBS 
	 Govt 
	 govt 

	31405ADK6
	Freddie /Fannie Agency MBS
	Hartford Life Insurance Company
	CRC
	CRC31405ADK6
	712,078
	7,621
	8,622
	8,622
	4.94
	 MBS 
	 MBS 
	 Govt 
	 govt 

	31410K5K6
	Freddie /Fannie Agency MBS
	Hartford Life Insurance Company
	CRC
	CRC31410K5K6
	21,888,485
	1,679,856
	1,900,532
	1,900,532
	4.50
	 MBS 
	 MBS 
	 Govt 
	 govt 

	3137G0EW5
	STACR_15-DNA1   M3
	Hartford Life Insurance Company
	CRC
	CRC3137G0EW5
	3,625,000
	3,625,000
	3,796,441
	3,796,441
	11.08
	 MBS 
	 CMO Non-Agency 
	 Ba3 
	 BIG 

	81211KAK6
	SEALED AIR CORPORATION     144A
	Hartford Life Insurance Company
	CRC
	CRC81211KAK6
	1,162,000
	1,162,000
	1,182,335
	1,182,335
	16.54
	 BIG Corporates 
	 HY Industrials 
	 Ba3 
	 BIG 

	31401MFB2
	Freddie /Fannie Agency MBS
	Hartford Life Insurance Company
	CRC
	CRC31401MFB2
	31,318,868
	818,157
	946,562
	946,562
	4.94
	 MBS 
	 MBS 
	 Govt 
	 govt 

	31391CKQ7
	Freddie /Fannie Agency MBS
	Hartford Life Insurance Company
	CRC
	CRC31391CKQ7
	1,593,128
	38,758
	45,062
	45,062
	4.60
	 MBS 
	 MBS 
	 Govt 
	 govt 

	718286BN6
	PHILIPPINES (REPUBLIC OF)
	Hartford Life Insurance Company
	CRC
	CRC718286BN6
	2,000,000
	2,000,000
	2,357,192
	2,357,192
	9.25
	 EM 
	 EM 
	 Baa2 
	 BBB 

	31413UTQ2
	Freddie /Fannie Agency MBS
	Hartford Life Insurance Company
	CRC
	CRC31413UTQ2
	17,377,302
	1,456,942
	1,673,947
	1,673,947
	4.27
	 MBS 
	 MBS 
	 Govt 
	 govt 

	31368HKZ5
	Freddie /Fannie Agency MBS
	Hartford Life Insurance Company
	CRC
	CRC31368HKZ5
	43,797
	169
	194
	194
	4.35
	 MBS 
	 MBS 
	 Govt 
	 govt 

	912810RD2
	TREASURY BOND
	Hartford Life Insurance Company
	LC2
	LC2912810RD2
	150,189,550
	150,189,550
	146,566,098
	170,283,260
	26.88
	 TSY 
	 TSY 
	 Govt 
	 Govt 

	31385JKZ0
	Freddie /Fannie Agency MBS
	Hartford Life Insurance Company
	CRC
	CRC31385JKZ0
	591,965
	4,563
	5,234
	5,234
	4.60
	 MBS 
	 MBS 
	 Govt 
	 govt 

	458140AT7
	INTEL CORPORATION
	Hartford Life Insurance Company
	LC2
	LC2458140AT7
	1,901,925
	1,901,925
	1,900,474
	2,127,651
	28.08
	 Corporates 
	 Industrial 
	 A+ 
	 A 

	010392FF0
	ALABAMA POWER COMPANY
	Hartford Life Insurance Company
	LC2
	LC2010392FF0
	1,776,200
	1,776,200
	1,773,987
	2,009,282
	24.42
	 Corporates 
	 Utilities 
	 A1 
	 A 

	36200VX99
	Ginnie Agency MBS
	Hartford Life Insurance Company
	CRC
	CRC36200VX99
	4,795,587
	142,454
	162,721
	162,721
	5.62
	 MBS 
	 MBS 
	 Govt 
	 govt 

	36200WC90
	Ginnie Agency MBS
	Hartford Life Insurance Company
	CRC
	CRC36200WC90
	6,295,299
	99,504
	113,660
	113,660
	5.62
	 MBS 
	 MBS 
	 Govt 
	 govt 

	36200XY52
	Ginnie Agency MBS
	Hartford Life Insurance Company
	CRC
	CRC36200XY52
	5,000,352
	96,336
	110,042
	110,042
	5.62
	 MBS 
	 MBS 
	 Govt 
	 govt 

	36201CLN2
	Ginnie Agency MBS
	Hartford Life Insurance Company
	CRC
	CRC36201CLN2
	2,001,980
	31,486
	35,965
	35,965
	5.44
	 MBS 
	 MBS 
	 Govt 
	 govt 

	36201FXX0
	Ginnie Agency MBS
	Hartford Life Insurance Company
	CRC
	CRC36201FXX0
	7,007,811
	217,229
	248,134
	248,134
	5.44
	 MBS 
	 MBS 
	 Govt 
	 govt 

	
														
	36213ANM2
	Ginnie Agency MBS
	Hartford Life Insurance Company
	CRC
	CRC36213ANM2
	3,174,784
	126,864
	144,912
	144,912
	5.62
	 MBS 
	 MBS 
	 Govt 
	 govt 

	31386MZB9
	Freddie /Fannie Agency MBS
	Hartford Life Insurance Company
	CRC
	CRC31386MZB9
	1,075,439
	34,291
	39,463
	39,463
	4.17
	 MBS 
	 MBS 
	 Govt 
	 govt 

	3128KRWQ3
	Freddie /Fannie Agency MBS
	Hartford Life Insurance Company
	CRC
	CRC3128KRWQ3
	44,979,000
	2,675,910
	3,081,488
	3,081,488
	4.40
	 MBS 
	 MBS 
	 Govt 
	 govt 

	31384WLN8
	Freddie /Fannie Agency MBS
	Hartford Life Insurance Company
	CRC
	CRC31384WLN8
	7,523,534
	26,190
	30,213
	30,213
	4.35
	 MBS 
	 MBS 
	 Govt 
	 govt 

	31385WW88
	Freddie /Fannie Agency MBS
	Hartford Life Insurance Company
	CRC
	CRC31385WW88
	25,334
	222
	258
	258
	4.17
	 MBS 
	 MBS 
	 Govt 
	 govt 

	31385JNG9
	Freddie /Fannie Agency MBS
	Hartford Life Insurance Company
	CRC
	CRC31385JNG9
	284,257
	1,844
	2,140
	2,140
	4.35
	 MBS 
	 MBS 
	 Govt 
	 govt 

	36202DZZ7
	Ginnie Agency MBS
	Hartford Life Insurance Company
	CRC
	CRC36202DZZ7
	11,600,000
	572,278
	665,935
	665,935
	5.84
	 MBS 
	 MBS 
	 Govt 
	 govt 

	761713BB1
	REYNOLDS AMERICAN INC
	Hartford Life Insurance Company
	LC2
	LC2761713BB1
	4,978,175
	4,978,175
	4,952,606
	5,894,786
	28.12
	 Corporates 
	 Industrial 
	 BBB 
	 BBB 

	31283HY58
	Freddie /Fannie Agency MBS
	Hartford Life Insurance Company
	CRC
	CRC31283HY58
	18,642,137
	1,192,827
	1,348,814
	1,348,814
	5.15
	 MBS 
	 MBS 
	 Govt 
	 govt 

	31287WDA3
	Freddie /Fannie Agency MBS
	Hartford Life Insurance Company
	CRC
	CRC31287WDA3
	931,068
	3,977
	4,492
	4,492
	4.68
	 MBS 
	 MBS 
	 Govt 
	 govt 

	655844AA6
	NORFOLK SOUTHERN CORP
	Hartford Life Insurance Company
	LC2
	LC2655844AA6
	3,745,000
	3,745,000
	4,036,657
	4,448,768
	4.17
	 Corporates 
	 Industrial 
	 Baa1 
	 BBB 

	04351LAA8
	ASCENSION HEALTH
	Hartford Life Insurance Company
	LC2
	LC204351LAA8
	9,095,000
	9,095,000
	9,095,000
	9,916,697
	34.73
	 Corporates 
	 Taxable Muni 
	 AA+ 
	 AA 

	31371KP88
	Freddie /Fannie Agency MBS
	Hartford Life Insurance Company
	CRC
	CRC31371KP88
	5,000,000
	54,458
	63,230
	63,230
	4.77
	 MBS 
	 MBS 
	 Govt 
	 govt 

	74456QAP1
	PUBLIC SERVICE ELECTRIC AND GAS CO MTN
	Hartford Life Insurance Company
	LC2
	LC274456QAP1
	6,858,700
	6,858,700
	6,841,798
	7,953,650
	18.50
	 Corporates 
	 Utilities 
	 A+ 
	 A 

	893526DF7
	TRANSCANADA PIPELINES LTD
	Hartford Life Insurance Company
	LC2
	LC2893526DF7
	3,720,925
	3,720,925
	3,711,119
	4,269,668
	17.25
	 Corporates 
	 Industrial 
	 A3 
	 A 

	615369AE5
	MOODYS CORPORATION
	Hartford Life Insurance Company
	LC2
	LC2615369AE5
	3,745,000
	3,745,000
	3,725,581
	4,127,578
	27.54
	 Corporates 
	 Industrial 
	 BBB+ 
	 BBB 

	725906AH4
	PLACER DOME INC
	Hartford Life Insurance Company
	LC2
	LC2725906AH4
	5,895,700
	5,895,700
	6,034,860
	6,156,520
	16.17
	 Corporates 
	 Industrial 
	 Baa3 
	 BBB 

	546676AU1
	LOUISVILLE GAS & ELECTRIC CO
	Hartford Life Insurance Company
	LC2
	LC2546676AU1
	1,893,900
	1,893,900
	1,875,374
	2,145,368
	23.38
	 Corporates 
	 Utilities 
	 A 
	 A 

	31391L5L5
	Freddie /Fannie Agency MBS
	Hartford Life Insurance Company
	CRC
	CRC31391L5L5
	115,473
	788
	917
	917
	4.60
	 MBS 
	 MBS 
	 Govt 
	 govt 

	59562VBD8
	BERKSHIRE HATHAWAY ENERGY CO
	Hartford Life Insurance Company
	LC2
	LC259562VBD8
	5,350,000
	5,350,000
	5,319,896
	6,006,873
	26.38
	 Corporates 
	 Utilities 
	 A3 
	 A 

	224044BR7
	COX COMMUNICATIONS INC     144A
	Hartford Life Insurance Company
	LC2
	LC2224044BR7
	2,675,000
	2,675,000
	2,577,581
	2,717,907
	19.92
	 Corporates 
	 Industrial 
	 BBB 
	 BBB 

	68233DAR8
	ONCOR ELECTRIC DELIVERY CO LLC
	Hartford Life Insurance Company
	CRC
	CRC68233DAR8
	5,630,000
	5,630,000
	6,871,803
	6,871,803
	5.67
	 Corporates 
	 Utilities 
	 A3 
	 A 

	373334JR3
	GEORGIA POWER COMPANY
	Hartford Life Insurance Company
	LC2
	LC2373334JR3
	7,056,650
	7,056,650
	7,009,863
	8,063,973
	23.42
	 Corporates 
	 Utilities 
	 A- 
	 A 

	31402DF39
	Freddie /Fannie Agency MBS
	Hartford Life Insurance Company
	CRC
	CRC31402DF39
	417,458
	13,509
	15,846
	15,846
	4.60
	 MBS 
	 MBS 
	 Govt 
	 govt 

	575767AJ7
	MASSACHUSETTS MUTUAL LIFE INSURANC 144A
	Hartford Life Insurance Company
	LC2
	LC2575767AJ7
	4,764,710
	4,764,710
	4,888,485
	5,254,212
	24.92
	 Corporates 
	 Financial 
	 AA- 
	 AA  

	907834AG0
	ANADARKO HOLDING CO
	Hartford Life Insurance Company
	LC2
	LC2907834AG0
	2,728,500
	2,728,500
	2,894,365
	3,306,465
	11.38
	 Corporates 
	 Industrial 
	 BBB 
	 BBB 

	842400FA6
	SOUTHERN CALIFORNIA EDISON
	Hartford Life Insurance Company
	LC2
	LC2842400FA6
	10,700,000
	10,700,000
	10,783,586
	12,542,947
	18.54
	 Corporates 
	 Utilities 
	 A+ 
	 A 

	539830AU3
	LOCKHEED MARTIN CORP
	Hartford Life Insurance Company
	LC2
	LC2539830AU3
	5,350,000
	5,350,000
	5,310,815
	6,276,187
	22.88
	 Corporates 
	 Industrial 
	 BBB+ 
	 BBB 

	29379VAV5
	ENTERPRISE PRODUCTS OPERATING LLC
	Hartford Life Insurance Company
	LC2
	LC229379VAV5
	5,350,000
	5,350,000
	5,344,421
	5,863,809
	25.13
	 Corporates 
	 Industrial 
	 BBB+ 
	 BBB 

	893570BL4
	TRANSCONTINENTAL GAS PIPE LINE
	Hartford Life Insurance Company
	LC2
	LC2893570BL4
	2,675,000
	2,675,000
	2,756,593
	3,258,506
	9.54
	 Corporates 
	 Industrial 
	 Baa2 
	 BBB 

	695114BZ0
	PACIFICORP
	Hartford Life Insurance Company
	LC2
	LC2695114BZ0
	8,025,000
	8,025,000
	8,002,431
	9,219,577
	18.46
	 Corporates 
	 Utilities 
	 A+ 
	 A 

	
														
	94973VAL1
	ANTHEM INC
	Hartford Life Insurance Company
	LC2
	LC294973VAL1
	27,285,000
	27,285,000
	26,869,328
	30,669,322
	19.04
	 Corporates 
	 Financial 
	 BBB 
	 BBB 

	65473QAZ6
	NISOURCE FINANCE CORPORATION
	Hartford Life Insurance Company
	LC2
	LC265473QAZ6
	4,477,415
	4,477,415
	5,185,589
	5,210,475
	24.59
	 Corporates 
	 Utilities 
	 BBB 
	 BBB 

	63618EAR2
	NATIONAL FUEL GAS COMPANY MTN
	Hartford Life Insurance Company
	LC2
	LC263618EAR2
	2,675,000
	2,675,000
	2,653,622
	3,131,406
	8.45
	 Corporates 
	 Industrial 
	 BBB 
	 BBB 

	144141BP2
	CAROLINA POWER & LIGHT CO
	Hartford Life Insurance Company
	LC2
	LC2144141BP2
	1,605,000
	1,605,000
	1,664,041
	1,986,866
	4.71
	 Corporates 
	 Utilities 
	 A+ 
	 A 

	134429AG4
	CAMPBELL SOUP CO
	Hartford Life Insurance Company
	LC2
	LC2134429AG4
	6,607,250
	6,607,250
	6,945,198
	8,179,108
	4.34
	 Corporates 
	 Industrial 
	 BBB+ 
	 BBB 

	283695AZ7
	EL PASO NATURAL GAS COMPANY
	Hartford Life Insurance Company
	LC2
	LC2283695AZ7
	4,547,500
	4,547,500
	4,595,489
	5,562,425
	5.04
	 Corporates 
	 Industrial 
	 BBB- 
	 BBB 

	767201AL0
	RIO TINTO FINANCE (USA) LIMITED
	Hartford Life Insurance Company
	LC2
	LC2767201AL0
	3,731,625
	3,731,625
	3,716,640
	4,245,697
	23.84
	 Corporates 
	 Industrial 
	 A- 
	 A 

	866762AK3
	SUNOCO INC
	Hartford Life Insurance Company
	LC2
	LC2866762AK3
	2,675,000
	2,675,000
	3,178,046
	3,257,356
	7.84
	 Corporates 
	 Industrial 
	 BBB- 
	 BBB 

	035229BP7
	ANHEUSER-BUSCH COMPANIES INC
	Hartford Life Insurance Company
	LC2
	LC2035229BP7
	1,605,000
	1,605,000
	1,627,996
	1,992,415
	10.96
	 Corporates 
	 Industrial 
	 A3 
	 A 

	73358WEK6
	PORT AUTH N Y & N J
	Hartford Life Insurance Company
	LC2
	LC273358WEK6
	1,738,750
	1,738,750
	1,791,243
	1,923,110
	32.75
	 Corporates 
	 Tax Muni 
	 AA- 
	 AA  

	459745GK5
	INTERNATIONAL LEASE FINANCE CORP
	Hartford Life Insurance Company
	CRC
	CRC459745GK5
	3,374,000
	3,374,000
	4,053,018
	4,053,018
	5.04
	 Corporates 
	 Financials 
	 BBB- 
	 BBB 

	29379VAT0
	ENTERPRISE PRODUCTS OPERATING LLC
	Hartford Life Insurance Company
	LC2
	LC229379VAT0
	8,506,500
	8,506,500
	8,587,475
	9,602,988
	24.09
	 Corporates 
	 Industrial 
	 BBB+ 
	 BBB 

	BHM0627E0
	BASIN ELECTRIC POWER COOPERATIVE I Prvt
	Hartford Life Insurance Company
	CRC
	CRCBHM0627E0
	5,000,000
	3,000,000
	3,682,620
	3,682,620
	6.46
	 Corporates 
	 Utilities 
	 A 
	 A 

	914744AB3
	UNIVERSITY OF NOTRE DAME
	Hartford Life Insurance Company
	LC2
	LC2914744AB3
	5,885,000
	5,885,000
	5,868,762
	6,874,604
	24.17
	 Corporates 
	 Industrial 
	 Aaa 
	 AAA 

	139859AB8
	ABC INC
	Hartford Life Insurance Company
	LC2
	LC2139859AB8
	2,140,000
	2,140,000
	2,381,524
	2,660,146
	4.63
	 Corporates 
	 Industrial 
	 A 
	 A 

	491674BG1
	KENTUCKY UTILITIES CO
	Hartford Life Insurance Company
	LC2
	LC2491674BG1
	3,531,000
	3,531,000
	3,496,564
	4,041,780
	23.34
	 Corporates 
	 Utilities 
	 A 
	 A 

	89417EAH2
	TRAVELERS CO INC
	Hartford Life Insurance Company
	LC2
	LC289417EAH2
	5,515,850
	5,515,850
	5,484,979
	6,497,384
	23.84
	 Corporates 
	 Financial 
	 A 
	 A 

	669771AS6
	NOVA GAS TRANSMISSION LTD
	Hartford Life Insurance Company
	LC2
	LC2669771AS6
	6,807,875
	6,807,875
	6,933,919
	8,343,881
	6.25
	 Corporates 
	 Industrial 
	 A3 
	 A 

	740816AH6
	PRESIDENT & FELLOWS OF HARVARD
	Hartford Life Insurance Company
	LC2
	LC2740816AH6
	3,429,350
	3,429,350
	3,408,901
	4,044,935
	23.79
	 Corporates 
	 Industrial 
	 Aaa 
	 AAA 

	494368BG7
	KIMBERLY-CLARK CORPORATION
	Hartford Life Insurance Company
	LC2
	LC2494368BG7
	2,461,000
	2,461,000
	2,431,747
	2,943,853
	24.17
	 Corporates 
	 Industrial 
	 A 
	 A 

	68233JAH7
	ONCOR ELECTRIC DELIVERY CO LLC
	Hartford Life Insurance Company
	LC2
	LC268233JAH7
	3,908,175
	3,908,175
	3,948,910
	4,532,076
	23.75
	 Corporates 
	 Utilities 
	 A3 
	 A 

	715638BM3
	PERU (THE REPUBLIC OF)
	Hartford Life Insurance Company
	CRC
	CRC715638BM3
	1,220,000
	1,220,000
	1,381,650
	1,381,650
	33.88
	 EM 
	 EM 
	 BBB+ 
	 BBB 

	797440BL7
	SAN DIEGO GAS & ELECTRIC
	Hartford Life Insurance Company
	LC2
	LC2797440BL7
	1,605,000
	1,605,000
	1,695,521
	1,898,635
	23.38
	 Corporates 
	 Utilities 
	 AA- 
	 AA  

	74432QAC9
	PRUDENTIAL FINANCIAL INC. MTN
	Hartford Life Insurance Company
	LC2
	LC274432QAC9
	15,247,500
	15,247,500
	16,343,894
	17,409,809
	16.54
	 Corporates 
	 Financial 
	 A- 
	 A 

	001192AH6
	AGL CAPITAL CORPORATION
	Hartford Life Insurance Company
	LC2
	LC2001192AH6
	9,555,100
	9,555,100
	9,550,674
	11,129,905
	23.71
	 Corporates 
	 Utilities 
	 BBB+ 
	 BBB 

	026609AC1
	WYETH
	Hartford Life Insurance Company
	LC2
	LC2026609AC1
	2,461,000
	2,461,000
	2,481,448
	3,060,455
	6.17
	 Corporates 
	 Industrial 
	 A+ 
	 A 

	26442CAH7
	DUKE ENERGY CAROLINAS LLC
	Hartford Life Insurance Company
	LC2
	LC226442CAH7
	2,675,000
	2,675,000
	2,817,995
	3,172,986
	23.13
	 Corporates 
	 Utilities 
	 AA- 
	 AA  

	00868PAA3
	AHOLD LEASE SERIES 2001-A-2 PASS T
	Hartford Life Insurance Company
	LC2
	LC200868PAA3
	2,675,000
	2,517,140
	2,470,792
	2,886,373
	8.01
	 Corporates 
	 Industrial 
	 Baa2 
	 BBB 

	141784AR9
	CARGILL INC MTN 144A
	Hartford Life Insurance Company
	LC2
	LC2141784AR9
	2,675,000
	2,675,000
	2,881,209
	3,118,445
	10.58
	 Corporates 
	 Industrial 
	 A2 
	 A 

	58013MEH3
	MCDONALDS CORPORATION
	Hartford Life Insurance Company
	LC2
	LC258013MEH3
	5,350,000
	5,350,000
	5,328,523
	6,166,506
	22.09
	 Corporates 
	 Industrial 
	 Baa1 
	 BBB 

	BHM0J2FU1
	UNITED ILLUMINATING CO     Prvt
	Hartford Life Insurance Company
	LC2
	LC2BHM0J2FU1
	11,000,000
	11,000,000
	11,000,000
	13,416,480
	23.58
	 Corporates 
	 Utilities 
	 Baa1 
	 BBB 

	
														
	931142CB7
	WAL-MART STORES INC
	Hartford Life Insurance Company
	LC2
	LC2931142CB7
	8,025,000
	8,025,000
	7,811,653
	9,598,117
	18.67
	 Corporates 
	 Industrial 
	 AA 
	 AA  

	049560AK1
	ATMOS ENERGY CORPORATION
	Hartford Life Insurance Company
	LC2
	LC2049560AK1
	2,557,300
	2,557,300
	2,549,770
	2,949,321
	23.96
	 Corporates 
	 Utilities 
	 A 
	 A 

	65473QAX1
	NISOURCE FINANCE CORPORATION
	Hartford Life Insurance Company
	LC2
	LC265473QAX1
	2,156,050
	2,156,050
	2,513,006
	2,559,744
	23.96
	 Corporates 
	 Utilities 
	 BBB 
	 BBB 

	914440LJ9
	UNIVERSITY MASS BLDG AUTH PROJ REV
	Hartford Life Insurance Company
	LC2
	LC2914440LJ9
	3,632,650
	3,632,650
	3,469,023
	4,330,337
	19.61
	 Corporates 
	 Taxable Muni 
	 Aa2 
	 AA 

	907834AB1
	ANADARKO HOLDING CO
	Hartford Life Insurance Company
	LC2
	LC2907834AB1
	2,153,375
	2,153,375
	2,318,989
	2,601,929
	9.79
	 Corporates 
	 Industrial 
	 BBB 
	 BBB 

	BHM1CVL76
	KAZAKHSTAN (REPUBLIC OF) MTN RegS
	Hartford Life Insurance Company
	CRC
	CRCBHM1CVL76
	1,000,000
	1,000,000
	1,145,000
	1,145,000
	28.56
	 EM 
	 EM 
	 BBB- 
	 BBB 

	594918AM6
	MICROSOFT CORPORATION
	Hartford Life Insurance Company
	LC2
	LC2594918AM6
	2,675,000
	2,675,000
	2,654,501
	3,180,580
	24.11
	 Corporates 
	 Industrials 
	 Aaa 
	 AAA 

	BRS3B9085
	INDONESIA (REPUBLIC OF )   RegS
	Hartford Life Insurance Company
	CRC
	CRCBRS3B9085
	1,885,000
	1,885,000
	2,179,695
	2,179,695
	20.13
	 EM 
	 EM 
	 Baa3 
	 BBB 

	172967BL4
	CITIGROUP INC
	Hartford Life Insurance Company
	LC2
	LC2172967BL4
	6,377,735
	6,377,735
	6,875,034
	7,736,792
	15.46
	 Corporates 
	 Financial 
	 BBB 
	 BBB 

	25477GEU5
	DISTRICT COLUMBIA INCOME TAX REV
	Hartford Life Insurance Company
	LC2
	LC225477GEU5
	1,605,000
	1,605,000
	1,605,000
	1,931,553
	14.99
	 Corporates 
	 Tax Muni 
	 AA+ 
	 AA  

	771367BX6
	ROCHESTER GAS & ELECTRIC
	Hartford Life Insurance Company
	LC2
	LC2771367BX6
	6,045,500
	6,045,500
	6,334,942
	6,954,882
	16.67
	 Corporates 
	 Utilities 
	 A 
	 A 

	837004BV1
	SOUTH CAROLINA ELECTRIC & GAS
	Hartford Life Insurance Company
	LC2
	LC2837004BV1
	1,605,000
	1,605,000
	1,595,629
	2,069,233
	15.09
	 Corporates 
	 Utilities 
	 A- 
	 A 

	291011AQ7
	EMERSON ELECTRIC CO
	Hartford Life Insurance Company
	LC2
	LC2291011AQ7
	1,979,500
	1,979,500
	1,955,448
	2,378,714
	15.63
	 Corporates 
	 Industrial 
	 A2 
	 A 

	207597DX0
	CONNECTICUT LIGHT AND POWER CO
	Hartford Life Insurance Company
	LC2
	LC2207597DX0
	6,420,000
	6,420,000
	6,368,071
	7,520,427
	20.17
	 Corporates 
	 Utilities 
	 A+ 
	 A 

	263534BG3
	EI DU PONT DE NEMOURS & CO
	Hartford Life Insurance Company
	LC2
	LC2263534BG3
	5,350,000
	5,350,000
	5,294,691
	6,510,303
	11.04
	 Corporates 
	 Industrial 
	 A- 
	 A 

	224050AE4
	COX ENTERPRISES   144A
	Hartford Life Insurance Company
	LC2
	LC2224050AE4
	5,350,000
	5,350,000
	5,350,000
	6,221,531
	10.54
	 Corporates 
	 Industrial 
	 BBB 
	 BBB 

	656531AC4
	STATOILHYDRO ASA
	Hartford Life Insurance Company
	LC2
	LC2656531AC4
	4,881,875
	4,881,875
	4,971,027
	6,141,111
	6.46
	 Corporates 
	 Non-Corp 
	 A+ 
	 A 

	455434BH2
	INDIANAPOLIS PWR & LT      144A
	Hartford Life Insurance Company
	LC2
	LC2455434BH2
	8,025,000
	8,025,000
	7,982,136
	9,439,631
	19.75
	 Corporates 
	 Utilities 
	 BBB+ 
	 BBB 

	BHM0GBW01
	CVS CAREMARK CTL 9-2009    Prvt
	Hartford Life Insurance Company
	LC2
	LC2BHM0GBW01
	5,350,000
	4,476,481
	4,476,481
	5,540,725
	8.75
	 Corporates 
	 Industrial 
	 Baa1 
	 BBB 

	816851AP4
	SEMPRA ENERGY
	Hartford Life Insurance Company
	LC2
	LC2816851AP4
	5,350,000
	5,350,000
	5,309,862
	6,374,782
	22.79
	 Corporates 
	 Utilities 
	 BBB+ 
	 BBB 

	059438AG6
	BANK ONE CORPORATION
	Hartford Life Insurance Company
	LC2
	LC2059438AG6
	4,280,000
	4,280,000
	4,258,164
	5,369,183
	8.54
	 Corporates 
	 Financial 
	 BBB+ 
	 BBB 

	893526DJ9
	TRANSCANADA PIPELINES LTD
	Hartford Life Insurance Company
	LC2
	LC2893526DJ9
	2,675,000
	2,675,000
	2,667,402
	3,325,111
	23.42
	 Corporates 
	 Industrial 
	 A3 
	 A 

	002824AV2
	ABBOTT LABORATORIES
	Hartford Life Insurance Company
	LC2
	LC2002824AV2
	8,025,000
	8,025,000
	8,008,816
	9,549,894
	22.25
	 Corporates 
	 Industrial 
	 A 
	 A 

	485134BH2
	KANSAS CITY POWER & LIGHT CO
	Hartford Life Insurance Company
	LC2
	LC2485134BH2
	10,700,000
	10,700,000
	10,647,694
	12,683,202
	18.88
	 Corporates 
	 Utilities 
	 Baa1 
	 BBB 

	694308GM3
	PACIFIC GAS & ELECTRIC CO
	Hartford Life Insurance Company
	LC2
	LC2694308GM3
	2,756,320
	2,756,320
	2,752,948
	3,507,045
	21.13
	 Corporates 
	 Utilities 
	 A3 
	 A 

	38141GGM0
	GOLDMAN SACHS GROUP INC
	Hartford Life Insurance Company
	LC2
	LC238141GGM0
	2,608,125
	2,608,125
	3,161,782
	3,232,946
	24.09
	 Corporates 
	 Financial 
	 A3 
	 A 

	207597CZ6
	CONNECTICUT LIGHT AND POWER CO
	Hartford Life Insurance Company
	LC2
	LC2207597CZ6
	4,975,500
	4,975,500
	5,234,794
	6,207,394
	7.75
	 Corporates 
	 Utilities 
	 A+ 
	 A 

	91324PBN1
	UNITEDHEALTH GROUP INC
	Hartford Life Insurance Company
	LC2
	LC291324PBN1
	1,702,370
	1,702,370
	1,772,844
	2,075,451
	23.29
	 Corporates 
	 Financial 
	 A- 
	 A 

	49306CAB7
	KEYBANK NATIONAL ASSOCIATION
	Hartford Life Insurance Company
	LC2
	LC249306CAB7
	3,515,485
	3,515,485
	3,603,653
	4,317,395
	11.09
	 Corporates 
	 Financial 
	 BBB+ 
	 BBB 

	38141GFD1
	GOLDMAN SACHS GROUP INC
	Hartford Life Insurance Company
	LC2
	LC238141GFD1
	6,259,500
	6,259,500
	7,297,081
	7,729,525
	20.75
	 Corporates 
	 Financial 
	 Baa2 
	 BBB 

	373334JN2
	GEORGIA POWER COMPANY
	Hartford Life Insurance Company
	LC2
	LC2373334JN2
	5,350,000
	5,350,000
	5,332,529
	6,434,595
	22.09
	 Corporates 
	 Utilities 
	 A- 
	 A 

	
														
	36186CBY8
	ALLY FINANCIAL INC
	Hartford Life Insurance Company
	CRC
	CRC36186CBY8
	4,095,000
	4,095,000
	4,749,872
	4,749,872
	14.84
	 BIG Corporates 
	 HY Financials 
	 BB+ 
	 BIG 

	126659AA9
	CVS PASSTHROUGH TRUST      144A
	Hartford Life Insurance Company
	LC2
	LC2126659AA9
	5,350,000
	4,435,775
	4,435,775
	5,714,352
	8.67
	 Corporates 
	 Industrial 
	 Baa1 
	 BBB 

	773903AB5
	ROCKWELL AUTOMATION INC
	Hartford Life Insurance Company
	LC2
	LC2773903AB5
	1,738,750
	1,738,750
	1,649,975
	2,226,442
	11.04
	 Corporates 
	 Industrial 
	 A 
	 A 

	084664BL4
	BERKSHIRE HATHAWAY FINANCE CORP
	Hartford Life Insurance Company
	LC2
	LC2084664BL4
	3,898,010
	3,898,010
	3,856,297
	4,795,761
	23.04
	 Corporates 
	 Financial 
	 Aa2 
	 AA  

	743315AL7
	PROGRESSIVE CORP
	Hartford Life Insurance Company
	LC2
	LC2743315AL7
	5,350,000
	5,350,000
	5,339,257
	6,683,450
	15.92
	 Corporates 
	 Financial 
	 A 
	 A 

	17248RAJ5
	CINGULAR WIRELESS LLC
	Hartford Life Insurance Company
	LC2
	LC217248RAJ5
	10,763,130
	10,763,130
	11,302,384
	13,468,593
	14.96
	 Corporates 
	 Industrial 
	 BBB+ 
	 BBB 

	74531EAA0
	PUGET SOUND ENERGY INC MTN
	Hartford Life Insurance Company
	LC2
	LC274531EAA0
	1,337,500
	1,337,500
	1,337,500
	1,729,430
	10.92
	 Corporates 
	 Utilities 
	 A- 
	 A 

	743315AJ2
	PROGRESSIVE CORP
	Hartford Life Insurance Company
	LC2
	LC2743315AJ2
	1,819,000
	1,819,000
	1,766,218
	2,308,522
	12.17
	 Corporates 
	 Financial 
	 A 
	 A 

	889175BD6
	TOLEDO EDISON COMPANY (THE)
	Hartford Life Insurance Company
	LC2
	LC2889175BD6
	5,350,000
	5,350,000
	5,343,245
	6,314,316
	20.38
	 Corporates 
	 Utilities 
	 Baa1 
	 BBB 

	539830AR0
	LOCKHEED MARTIN CORP
	Hartford Life Insurance Company
	LC2
	LC2539830AR0
	5,885,000
	5,885,000
	7,084,843
	7,362,300
	19.67
	 Corporates 
	 Industrial 
	 BBB+ 
	 BBB 

	73358WCX0
	PORT AUTH N Y & N J
	Hartford Life Insurance Company
	LC2
	LC273358WCX0
	4,518,075
	4,518,075
	5,406,423
	5,442,112
	21.50
	 Corporates 
	 Tax Muni 
	 AA- 
	 AA  

	12189TAG9
	BURLINGTON NORTHERN SANTA FE CORP
	Hartford Life Insurance Company
	LC2
	LC212189TAG9
	2,675,000
	2,675,000
	2,668,775
	3,460,179
	10.92
	 Corporates 
	 Industrial 
	 A3 
	 A 

	87612EAK2
	TARGET CORPORATION
	Hartford Life Insurance Company
	LC2
	LC287612EAK2
	6,168,550
	6,168,550
	6,365,857
	7,898,304
	15.84
	 Corporates 
	 Industrial 
	 A2 
	 A 

	12189TAJ3
	BURLINGTON NORTHERN SANTA FE CORP
	Hartford Life Insurance Company
	LC2
	LC212189TAJ3
	2,675,000
	2,675,000
	2,667,977
	3,407,222
	11.59
	 Corporates 
	 Industrial 
	 A3 
	 A 

	010392FB9
	ALABAMA POWER COMPANY
	Hartford Life Insurance Company
	LC2
	LC2010392FB9
	5,885,000
	5,885,000
	5,875,057
	7,304,227
	22.17
	 Corporates 
	 Utilities 
	 A1 
	 A 

	79765RSV2
	SAN FRANCISCO CALIF CITY & CNTY PU
	Hartford Life Insurance Company
	LC2
	LC279765RSV2
	3,413,300
	3,413,300
	3,596,073
	4,135,213
	17.56
	 Corporates 
	 Tax Muni 
	 Aa3 
	 AA  

	88579EAC9
	3M CO MTN
	Hartford Life Insurance Company
	LC2
	LC288579EAC9
	6,473,500
	6,473,500
	7,309,066
	8,142,724
	20.21
	 Corporates 
	 Industrial 
	 A1 
	 A 

	73358WCW2
	PORT AUTHORITY OF NEW YORK & NEW J
	Hartford Life Insurance Company
	LC2
	LC273358WCW2
	4,395,025
	4,395,025
	5,243,812
	5,293,896
	21.50
	 Corporates 
	 Tax Muni 
	 AA- 
	 AA  

	575634AS9
	MASSACHUSETTS ELECTRIC COMPANY 144A
	Hartford Life Insurance Company
	LC2
	LC2575634AS9
	7,423,125
	7,423,125
	7,477,616
	8,961,902
	22.88
	 Corporates 
	 Utilities 
	 A3 
	 A 

	872287AL1
	TCI COMMUNICATIONS INC
	Hartford Life Insurance Company
	LC2
	LC2872287AL1
	2,675,000
	2,675,000
	2,592,341
	3,537,781
	11.13
	 Corporates 
	 Industrial 
	 A- 
	 A 

	91324PBQ4
	UNITEDHEALTH GROUP INC
	Hartford Life Insurance Company
	LC2
	LC291324PBQ4
	4,863,150
	4,863,150
	4,839,746
	6,068,331
	24.13
	 Corporates 
	 Financials 
	 A- 
	 A 

	87973PAB0
	TEMASEK FINANCIAL I LTD    144A
	Hartford Life Insurance Company
	LC2
	LC287973PAB0
	10,008,780
	10,008,780
	9,922,865
	12,557,556
	22.90
	 Corporates 
	 Non-Corp 
	 Aaa 
	 AAA 

	89420GAE9
	TRAVELERS PROPERTY CASUALTY CORP.
	Hartford Life Insurance Company
	LC2
	LC289420GAE9
	2,675,000
	2,675,000
	2,994,269
	3,377,912
	16.21
	 Corporates 
	 Financial 
	 A 
	 A 

	136385AC5
	CANADIAN NATURAL RESOURCES LTD
	Hartford Life Insurance Company
	LC2
	LC2136385AC5
	2,137,325
	2,137,325
	2,474,194
	2,524,386
	15.04
	 Corporates 
	 Industrial 
	 Baa3 
	 BBB 

	013716AQ8
	ALCAN INC.
	Hartford Life Insurance Company
	LC2
	LC2013716AQ8
	2,675,000
	2,675,000
	2,710,092
	3,186,193
	14.21
	 Corporates 
	 Industrial 
	 A- 
	 A 

	208251AE8
	CONOCO INC
	Hartford Life Insurance Company
	LC2
	LC2208251AE8
	1,605,000
	1,605,000
	1,511,753
	2,018,381
	12.29
	 Corporates 
	 Industrial 
	 A- 
	 A 

	136375BD3
	CANADIAN NATIONAL RAILWAY CO
	Hartford Life Insurance Company
	LC2
	LC2136375BD3
	2,675,000
	2,675,000
	2,943,795
	3,566,519
	11.54
	 Corporates 
	 Industrial 
	 A2 
	 A 

	28368EAE6
	KINDER MORGAN INC
	Hartford Life Insurance Company
	LC2
	LC228368EAE6
	3,290,250
	3,290,250
	4,090,195
	4,032,050
	15.04
	 Corporates 
	 Industrial 
	 BBB- 
	 BBB 

	872287AF4
	TCI COMMUNICATIONS INC
	Hartford Life Insurance Company
	LC2
	LC2872287AF4
	4,173,000
	4,173,000
	4,501,942
	5,601,284
	9.13
	 Corporates 
	 Industrial 
	 A- 
	 A 

	17305EDT9
	CCCIT_07-A3     A3
	Hartford Life Insurance Company
	CRC
	CRC17305EDT9
	2,000,000
	2,000,000
	2,631,320
	2,631,320
	20.46
	 ABS 
	 Credit Card 
	 AAA 
	 AAA 

	17305EDT9
	CCCIT_07-A3     A3
	Hartford Life Insurance Company
	LC2
	LC217305EDT9
	2,316,550
	2,316,550
	2,682,655
	3,047,792
	20.46
	 ABS 
	 Credit Card 
	 AAA 
	 AAA 

	
														
	668131AA3
	NORTHWESTERN MUTUAL LIFE INSURANCE 144A
	Hartford Life Insurance Company
	LC2
	LC2668131AA3
	2,942,500
	2,942,500
	3,379,255
	3,623,353
	23.25
	 Corporates 
	 Financial 
	 Aa2 
	 AA  

	268789AB0
	E.ON INTERNATIONAL FINANCE B.V. 144A
	Hartford Life Insurance Company
	LC2
	LC2268789AB0
	2,673,930
	2,673,930
	2,808,161
	3,143,464
	21.33
	 Corporates 
	 Utilities 
	 BBB+ 
	 BBB 

	58013MEF7
	MCDONALDS CORPORATION MTN
	Hartford Life Insurance Company
	LC2
	LC258013MEF7
	2,148,025
	2,148,025
	2,358,638
	2,676,849
	21.17
	 Corporates 
	 Industrial 
	 Baa1 
	 BBB 

	656531AM2
	STATOILHYDRO ASA
	Hartford Life Insurance Company
	LC2
	LC2656531AM2
	2,675,000
	2,675,000
	2,724,768
	3,569,408
	10.73
	 Corporates 
	 Non-Corp 
	 A+ 
	 A 

	19633SAB9
	COLORADO BRIDGE ENTERPRISE
	Hartford Life Insurance Company
	LC2
	LC219633SAB9
	1,321,450
	1,321,450
	1,321,450
	1,656,345
	18.47
	 Corporates 
	 Tax Muni 
	 Aa3 
	 AA  

	797440BJ2
	SAN DIEGO GAS & ELEC
	Hartford Life Insurance Company
	LC2
	LC2797440BJ2
	6,467,615
	6,467,615
	6,450,394
	8,300,356
	20.71
	 Corporates 
	 Utilities 
	 AA- 
	 AA  

	437076AV4
	HOME DEPOT INC
	Hartford Life Insurance Company
	LC2
	LC2437076AV4
	14,089,225
	14,089,225
	14,157,080
	17,911,195
	24.25
	 Corporates 
	 Industrials 
	 A 
	 A 

	58013MEC4
	MCDONALDS CORPORATION
	Hartford Life Insurance Company
	LC2
	LC258013MEC4
	4,881,875
	4,881,875
	5,509,506
	6,133,510
	20.79
	 Corporates 
	 Industrial 
	 Baa1 
	 BBB 

	91412GDZ5
	UNIVERSITY CALIF REVS
	Hartford Life Insurance Company
	LC2
	LC291412GDZ5
	2,367,375
	2,367,375
	2,924,826
	2,927,543
	21.06
	 Corporates 
	 Tax Muni 
	 AA- 
	 AA  

	0010EPAF5
	AEP TEXAS CENTRAL CO
	Hartford Life Insurance Company
	LC2
	LC20010EPAF5
	1,471,250
	1,471,250
	1,465,799
	1,816,986
	16.13
	 Corporates 
	 Utilities 
	 BBB+ 
	 BBB 

	64966HYV6
	NEW YORK N Y
	Hartford Life Insurance Company
	LC2
	LC264966HYV6
	4,012,500
	4,012,500
	4,012,500
	5,036,530
	21.20
	 Corporates 
	 Tax Muni 
	 AA 
	 AA  

	69351UAM5
	PPL ELECTRIC UTILITIES CORPORATION
	Hartford Life Insurance Company
	LC2
	LC269351UAM5
	1,685,250
	1,685,250
	1,732,941
	2,182,298
	22.38
	 Corporates 
	 Utilities 
	 A 
	 A 

	89837LAB1
	PRINCETON UNIVERSITY
	Hartford Life Insurance Company
	LC2
	LC289837LAB1
	12,899,920
	12,899,920
	13,070,746
	16,937,131
	22.17
	 Corporates 
	 Industrial 
	 Aaa 
	 AAA 

	63946BAF7
	NBCUNIVERSAL MEDIA LLC
	Hartford Life Insurance Company
	LC2
	LC263946BAF7
	2,067,775
	2,067,775
	2,067,269
	2,673,873
	23.33
	 Corporates 
	 Industrial 
	 A- 
	 A 

	26882PBE1
	ERAC USA FINANCE LLC       144A
	Hartford Life Insurance Company
	LC2
	LC226882PBE1
	1,498,000
	1,498,000
	1,976,808
	1,898,050
	20.79
	 Corporates 
	 Industrial 
	 Baa1 
	 BBB 

	677415CF6
	OHIO POWER COMPANY
	Hartford Life Insurance Company
	LC2
	LC2677415CF6
	2,086,500
	2,086,500
	2,079,132
	2,565,016
	16.13
	 Corporates 
	 Utilities 
	 BBB+ 
	 BBB 

	759136QP2
	REGIONAL TRANSN DIST COLO
	Hartford Life Insurance Company
	LC2
	LC2759136QP2
	6,136,450
	6,136,450
	7,012,196
	8,049,795
	31.95
	 Corporates 
	 Tax Muni 
	 AA 
	 AA  

	90131HAV7
	21ST CENTURY FOX AMERICA INC
	Hartford Life Insurance Company
	LC2
	LC290131HAV7
	6,420,000
	6,420,000
	7,646,796
	8,509,986
	7.54
	 Corporates 
	 Industrial 
	 BBB+ 
	 BBB 

	00817YAG3
	AETNA INC
	Hartford Life Insurance Company
	LC2
	LC200817YAG3
	1,872,500
	1,872,500
	2,079,189
	2,433,522
	20.96
	 Corporates 
	 Financial 
	 A- 
	 A 

	91913YAE0
	VALERO ENERGY CORP
	Hartford Life Insurance Company
	LC2
	LC291913YAE0
	2,675,000
	2,675,000
	2,639,791
	3,284,972
	15.29
	 Corporates 
	 Industrial 
	 BBB 
	 BBB 

	98389BAH3
	XCEL ENERGY INC
	Hartford Life Insurance Company
	LC2
	LC298389BAH3
	4,873,850
	4,873,850
	5,348,083
	6,128,262
	19.50
	 Corporates 
	 Utilities 
	 BBB+ 
	 BBB 

	02765UCR3
	AMERICAN MUN PWR-OHIO INC
	Hartford Life Insurance Company
	LC2
	LC202765UCR3
	2,244,325
	2,244,325
	2,633,598
	2,660,580
	24.67
	 Corporates 
	 Tax Muni 
	 A 
	 A 

	244199BA2
	DEERE & CO
	Hartford Life Insurance Company
	LC2
	LC2244199BA2
	1,337,500
	1,337,500
	1,332,544
	1,827,410
	14.18
	 Corporates 
	 Industrial 
	 A 
	 A 

	88731EAJ9
	TIME WARNER ENTERTAINMENT CO LP
	Hartford Life Insurance Company
	LC2
	LC288731EAJ9
	2,461,000
	2,461,000
	2,785,437
	3,224,429
	16.54
	 Corporates 
	 Industrial 
	 BBB- 
	 BBB 

	44881HET7
	HYDRO-QUEBEC MTN
	Hartford Life Insurance Company
	LC2
	LC244881HET7
	2,675,000
	2,675,000
	2,675,000
	3,625,171
	7.88
	 Corporates 
	 Non-Corp 
	 AA- 
	 AA  

	377372AE7
	GLAXOSMITHKLINE CAPITAL INC
	Hartford Life Insurance Company
	LC2
	LC2377372AE7
	16,317,500
	16,317,500
	20,800,812
	21,461,657
	21.38
	 Corporates 
	 Industrial 
	 A 
	 A 

	251799AA0
	DEVON ENERGY CORP
	Hartford Life Insurance Company
	LC2
	LC2251799AA0
	8,517,735
	8,517,735
	10,765,541
	10,785,292
	15.29
	 Corporates 
	 Industrial 
	 BBB 
	 BBB 

	235241LS3
	DALLAS TEX AREA RAPID TRAN SALES T
	Hartford Life Insurance Company
	LC2
	LC2235241LS3
	3,210,000
	3,210,000
	3,895,544
	4,226,896
	23.74
	 Corporates 
	 Tax Muni 
	 Aa2 
	 AA  

	22541LAE3
	CREDIT SUISSE (USA) INC
	Hartford Life Insurance Company
	LC2
	LC222541LAE3
	16,745,500
	16,745,500
	16,711,907
	22,126,516
	15.54
	 Corporates 
	 Financial 
	 A 
	 A 

	91324PAX0
	UNITEDHEALTH GROUP INC
	Hartford Life Insurance Company
	LC2
	LC291324PAX0
	1,538,125
	1,538,125
	1,686,100
	1,976,755
	20.46
	 Corporates 
	 Financial 
	 A- 
	 A 

	167725AC4
	CHICAGO ILL TRANSIT AUTH
	Hartford Life Insurance Company
	LC2
	LC2167725AC4
	2,942,500
	2,942,500
	3,314,856
	3,699,017
	16.87
	 Corporates 
	 Tax Muni 
	 A1 
	 A 

	
														
	677347CE4
	OHIO EDISON COMPANY
	Hartford Life Insurance Company
	LC2
	LC2677347CE4
	4,312,100
	4,312,100
	4,298,556
	5,474,439
	19.54
	 Corporates 
	 Utilities 
	 BBB- 
	 BBB 

	25468PBW5
	WALT DISNEY CO
	Hartford Life Insurance Company
	LC2
	LC225468PBW5
	6,553,750
	6,553,750
	7,088,276
	8,984,628
	15.17
	 Corporates 
	 Industrial 
	 A 
	 A 

	68233DAT4
	ONCOR ELECTRIC DELIVERY CO LLC
	Hartford Life Insurance Company
	LC2
	LC268233DAT4
	2,675,000
	2,675,000
	2,645,855
	3,622,934
	15.34
	 Corporates 
	 Utilities 
	 A3 
	 A 

	822582AD4
	SHELL INTERNATIONAL FINANCE BV
	Hartford Life Insurance Company
	LC2
	LC2822582AD4
	7,128,875
	7,128,875
	7,814,190
	9,193,283
	21.96
	 Corporates 
	 Industrial 
	 AA- 
	 AA  

	826418BE4
	SIERRA PACIFIC POWER CO
	Hartford Life Insurance Company
	LC2
	LC2826418BE4
	5,541,530
	5,541,530
	6,242,474
	7,345,897
	20.50
	 Corporates 
	 Utilities 
	 A2 
	 A 

	961548AY0
	MEADWESTVACO CORP
	Hartford Life Insurance Company
	LC2
	LC2961548AY0
	2,391,450
	2,391,450
	2,782,056
	3,147,191
	14.13
	 Corporates 
	 Industrial 
	 Baa2 
	 BBB 

	59259YBY4
	METROPOLITAN TRANSN AUTH N Y
	Hartford Life Insurance Company
	LC2
	LC259259YBY4
	2,675,000
	2,675,000
	3,623,576
	3,547,425
	20.04
	 Corporates 
	 Tax Muni 
	 A1 
	 A 

	59259YDC0
	METROPOLITAN TRANSN AUTH N Y
	Hartford Life Insurance Company
	LC2
	LC259259YDC0
	5,893,025
	5,893,025
	7,665,012
	7,919,165
	19.90
	 Corporates 
	 Tax Muni 
	 A1 
	 A 

	68389XAE5
	ORACLE CORPORATION
	Hartford Life Insurance Company
	LC2
	LC268389XAE5
	6,980,145
	6,980,145
	6,969,679
	9,120,167
	21.29
	 Corporates 
	 Industrial 
	 A+ 
	 A 

	887315AZ2
	HISTORIC TW INC
	Hartford Life Insurance Company
	LC2
	LC2887315AZ2
	13,535,500
	13,535,500
	10,268,844
	17,375,548
	19.04
	 Corporates 
	 Industrial 
	 BBB 
	 BBB 

	89352HAE9
	TRANSCANADA PIPELINES LTD
	Hartford Life Insurance Company
	LC2
	LC289352HAE9
	4,572,645
	4,572,645
	4,571,097
	6,172,966
	21.63
	 Corporates 
	 Industrial 
	 A3 
	 A 

	878091BC0
	TEACHERS INSURANCE AND ANNUITY 144A
	Hartford Life Insurance Company
	LC2
	LC2878091BC0
	10,700,000
	10,700,000
	11,039,087
	13,885,647
	22.96
	 Corporates 
	 Financial 
	 AA- 
	 AA  

	141781AF1
	CARGILL INC       144A
	Hartford Life Insurance Company
	LC2
	LC2141781AF1
	1,971,475
	1,971,475
	1,937,361
	2,623,527
	19.84
	 Corporates 
	 Industrial 
	 A2 
	 A 

	744448CA7
	PUBLIC SERVICE COMPANY OF COLORADO
	Hartford Life Insurance Company
	LC2
	LC2744448CA7
	1,895,505
	1,895,505
	1,888,813
	2,502,774
	21.59
	 Corporates 
	 Utilities 
	 A1 
	 A 

	91913YAB6
	VALERO ENERGY CORP MTN
	Hartford Life Insurance Company
	LC2
	LC291913YAB6
	4,611,700
	4,611,700
	5,466,803
	6,062,393
	13.46
	 Corporates 
	 Industrial 
	 BBB 
	 BBB 

	961548AV6
	MEADWESTVACO CORP
	Hartford Life Insurance Company
	CRC
	CRC961548AV6
	3,907,000
	3,907,000
	5,100,495
	5,100,495
	13.04
	 Corporates 
	 Industrials 
	 Baa2 
	 BBB 

	961548AV6
	MEADWESTVACO CORP
	Hartford Life Insurance Company
	LC2
	LC2961548AV6
	2,308,525
	2,308,525
	2,705,755
	3,013,724
	13.04
	 Corporates 
	 Industrials 
	 Baa2 
	 BBB 

	209111EU3
	CONSOLIDATED EDISON CO OF NEW YORK
	Hartford Life Insurance Company
	LC2
	LC2209111EU3
	4,012,500
	4,012,500
	4,002,202
	5,430,706
	21.25
	 Corporates 
	 Utilities 
	 A- 
	 A 

	77509NAF0
	ROGERS COMMUNICATIONS INC.
	Hartford Life Insurance Company
	LC2
	LC277509NAF0
	2,691,050
	2,691,050
	3,145,243
	3,666,305
	15.34
	 Corporates 
	 Industrial 
	 BBB+ 
	 BBB 

	59259YGF0
	METROPOLITAN TRANSN AUTH N Y REV F
	Hartford Life Insurance Company
	LC2
	LC259259YGF0
	2,699,075
	2,699,075
	3,650,426
	3,584,264
	19.73
	 Corporates 
	 Tax Muni 
	 A1 
	 A 

	494368BC6
	KIMBERLY-CLARK CORPORATION
	Hartford Life Insurance Company
	LC2
	LC2494368BC6
	28,307,385
	28,307,385
	28,050,238
	38,785,533
	20.59
	 Corporates 
	 Industrial 
	 A 
	 A 

	072024NU2
	BAY AREA TOLL AUTH CALIF TOLL BRDG
	Hartford Life Insurance Company
	LC2
	LC2072024NU2
	7,693,300
	7,693,300
	10,111,979
	10,425,883
	19.39
	 Corporates 
	 Tax Muni 
	 A1 
	 A 

	244199AZ8
	DEERE & CO
	Hartford Life Insurance Company
	LC2
	LC2244199AZ8
	4,940,725
	4,940,725
	5,383,928
	7,193,873
	13.38
	 Corporates 
	 Industrial 
	 A 
	 A 

	931142BF9
	WAL-MART STORES INC
	Hartford Life Insurance Company
	LC2
	LC2931142BF9
	16,050,000
	16,050,000
	18,779,767
	23,176,778
	13.13
	 Corporates 
	 Industrial 
	 AA 
	 AA  

	401378AA2
	GUARDIAN LIFE INSURANCE CO OF AMER 144A
	Hartford Life Insurance Company
	LC2
	LC2401378AA2
	7,579,345
	7,579,345
	7,508,593
	10,104,972
	22.75
	 Corporates 
	 Financial 
	 AA- 
	 AA  

	13063A5E0
	CALIFORNIA ST
	Hartford Life Insurance Company
	LC2
	LC213063A5E0
	6,013,400
	6,013,400
	7,423,821
	8,499,941
	17.25
	 Corporates 
	 Tax Muni 
	 AA- 
	 AA  

	717081CY7
	PFIZER INC.
	Hartford Life Insurance Company
	LC2
	LC2717081CY7
	16,116,875
	16,116,875
	16,108,461
	23,280,616
	22.21
	 Corporates 
	 Industrial 
	 A+ 
	 A 

	702274AW1
	PASADENA CALIF PUB FING AUTH L
	Hartford Life Insurance Company
	LC2
	LC2702274AW1
	1,845,750
	1,845,750
	2,407,257
	2,486,281
	22.35
	 Corporates 
	 Tax Muni 
	 AA 
	 AA  

	646139X83
	NEW JERSEY ST TPK AUTH TPK REV
	Hartford Life Insurance Company
	LC2
	LC2646139X83
	1,444,500
	1,444,500
	1,924,093
	2,021,072
	21.61
	 Corporates 
	 Tax Muni 
	 A 
	 A 

	386088AH1
	DIAGEO INVESTMENT CORP
	Hartford Life Insurance Company
	LC2
	LC2386088AH1
	3,745,000
	3,745,000
	4,323,311
	5,231,978
	18.29
	 Corporates 
	 Industrial 
	 A- 
	 A 

	646139W35
	NEW JERSEY ST TPK AUTH
	Hartford Life Insurance Company
	LC2
	LC2646139W35
	3,119,050
	3,119,050
	4,277,623
	4,504,501
	21.59
	 Corporates 
	 Tax Muni 
	 A 
	 A 

	
														
	655855FB5
	NORFOLK SOUTHERN RAILWAY CO
	Hartford Life Insurance Company
	LC2
	LC2655855FB5
	1,551,500
	1,551,500
	1,538,456
	2,298,896
	26.38
	 Corporates 
	 Industrial 
	 BBB+ 
	 BBB 

	13063A5G5
	STATE OF CALIFORNIA
	Hartford Life Insurance Company
	LC2
	LC213063A5G5
	2,193,500
	2,193,500
	2,812,570
	3,245,612
	22.25
	 Corporates 
	 Tax Muni 
	 AA- 
	 AA  

	097023AK1
	BOEING COMPANY
	Hartford Life Insurance Company
	LC2
	LC2097023AK1
	2,675,000
	2,675,000
	3,367,093
	4,073,878
	26.29
	 Corporates 
	 Industrial 
	 A 
	 A 

	02765UEK6
	AMERICAN MUN PWR OHIO INC
	Hartford Life Insurance Company
	LC2
	LC202765UEK6
	2,514,500
	2,514,500
	3,537,692
	3,818,419
	29.85
	 Corporates 
	 Tax Muni 
	 A2 
	 A 

	714264AF5
	PERNOD-RICARD SA  144A
	Hartford Life Insurance Company
	CRC
	CRC714264AF5
	5,870,000
	5,870,000
	5,873,164
	5,873,164
	0.04
	 Corporates 
	 Industrials 
	 BBB- 
	 BBB 

	72650RAP7
	PLAINS ALL AMERICAN PIPELINE LP
	Hartford Life Insurance Company
	CRC
	CRC72650RAP7
	3,295,000
	3,295,000
	3,299,023
	3,299,023
	0.04
	 Corporates 
	 Industrials 
	 BBB- 
	 BBB 

	44923QAH7
	HYUNDAI CAPITAL AMERICA    144A
	Hartford Life Insurance Company
	CRC
	CRC44923QAH7
	9,645,000
	9,645,000
	9,646,640
	9,646,640
	0.10
	 Corporates 
	 Industrials 
	 BBB+ 
	 BBB 

	62718QAA3
	MURRAY STREET INVESTMENT TRUST I
	Hartford Life Insurance Company
	CRC
	CRC62718QAA3
	12,175,000
	12,175,000
	12,238,432
	12,238,432
	0.19
	 Corporates 
	 Financials 
	 A3 
	 A 

	65557FAB2
	NORDEA BANK AB    144A
	Hartford Life Insurance Company
	CRC
	CRC65557FAB2
	15,000,000
	15,000,000
	15,068,100
	15,068,100
	0.22
	 Corporates 
	 Financials 
	 AA- 
	 AA 

	55608PAE4
	MACQUARIE BANK LTD MTN 144A
	Hartford Life Insurance Company
	CRC
	CRC55608PAE4
	4,490,000
	4,490,000
	4,493,722
	4,493,722
	0.23
	 Corporates 
	 Financials 
	 A 
	 A 

	717081DQ3
	PFIZER INC
	Hartford Life Insurance Company
	CRC
	CRC717081DQ3
	6,349,000
	6,349,000
	6,425,874
	6,425,874
	0.25
	 Corporates 
	 Industrials 
	 A+ 
	 A 

	233851AP9
	DAIMLER FINANCE NORTH AMERICA LLC 144A
	Hartford Life Insurance Company
	CRC
	CRC233851AP9
	5,000,000
	5,000,000
	5,015,665
	5,015,665
	0.28
	 Corporates 
	 Industrials 
	 A- 
	 A 

	31371KQE4
	Freddie /Fannie Agency MBS
	Hartford Life Insurance Company
	CRC
	CRC31371KQE4
	4,573,365
	3,923
	3,939
	3,939
	0.27
	 MBS 
	 MBS 
	 Govt 
	 govt 

	02581FYA1
	AMERICAN EXPRESS CENTURION BANK
	Hartford Life Insurance Company
	CRC
	CRC02581FYA1
	10,000,000
	10,000,000
	10,195,260
	10,195,260
	0.45
	 Corporates 
	 Financials 
	 A2 
	 A 

	701776AM8
	PARCSR_07-12 (IG8 10-15%)  144A
	Hartford Life Insurance Company
	CRC
	CRC701776AM8
	100,000,000
	100,000,000
	100,280,000
	100,280,000
	0.47
	 Corporates 
	 Financials 
	 A+ 
	 A 

	858271AA7
	STEELRIVER TRANSMISSION COMPANY LL Prvt
	Hartford Life Insurance Company
	CRC
	CRC858271AA7
	14,700,000
	9,869,559
	9,935,537
	9,935,537
	0.50
	 Corporates 
	 Utilities 
	 Baa1 
	 BBB 

	912828XP0
	TREASURY NOTE
	Hartford Life Insurance Company
	CRC
	CRC912828XP0
	5,170,000
	5,170,000
	5,167,777
	5,167,777
	0.59
	 TSY 
	 TSY 
	 Govt 
	 govt 

	BHM02QEM5
	HTFD LION INDUS   PN Prvt
	Hartford Life Insurance Company
	CRC
	CRCBHM02QEM5
	26,966,396
	25,845,851
	26,350,227
	26,350,227
	0.67
	 CML 
	 CML 
	 A3 
	 A 

	87020PAA5
	SWEDBANK AB       144A
	Hartford Life Insurance Company
	CRC
	CRC87020PAA5
	3,765,000
	3,765,000
	3,783,064
	3,783,064
	0.75
	 Corporates 
	 Financials 
	 AA- 
	 AA 

	68233JAK0
	ONCOR ELECTRIC DELIVERY CO LLC
	Hartford Life Insurance Company
	CRC
	CRC68233JAK0
	13,950,000
	13,950,000
	14,317,903
	14,317,903
	0.75
	 Corporates 
	 Utilities 
	 A3 
	 A 

	505742AC0
	LADDER CAPITAL FINANCE HOLDINGS LL
	Hartford Life Insurance Company
	CRC
	CRC505742AC0
	2,082,000
	2,082,000
	2,082,000
	2,082,000
	0.25
	 BIG Corporates 
	 HY Financials 
	 Ba3 
	 BIG 

	42824CAS8
	HEWLETT PACKARD ENTERPRISE CO
	Hartford Life Insurance Company
	CRC
	CRC42824CAS8
	4,500,000
	4,500,000
	4,524,597
	4,524,597
	0.76
	 Corporates 
	 Industrials 
	 BBB 
	 BBB 

	BHM0JA815
	SCHREIBER FOODS INC        Prvt
	Hartford Life Insurance Company
	CRC
	CRCBHM0JA815
	7,000,000
	7,000,000
	7,100,730
	7,100,730
	0.86
	 Corporates 
	 Industrials 
	 Baa2 
	 BBB 

	843646AN0
	SOUTHERN POWER COMPANY
	Hartford Life Insurance Company
	CRC
	CRC843646AN0
	5,346,000
	5,346,000
	5,360,129
	5,360,129
	0.92
	 Corporates 
	 Utilities 
	 BBB+ 
	 BBB 

	BHM0WHSY1
	AMETEK INC        Prvt
	Hartford Life Insurance Company
	CRC
	CRCBHM0WHSY1
	5,000,000
	5,000,000
	5,200,200
	5,200,200
	0.97
	 Corporates 
	 Industrials 
	 Baa1 
	 BBB 

	BHM1K1266
	PNG CO LLC        Prvt
	Hartford Life Insurance Company
	CRC
	CRCBHM1K1266
	3,300,000
	3,300,000
	3,309,372
	3,309,372
	0.97
	 Corporates 
	 Utilities 
	 BBB- 
	 BBB 

	61761JVM8
	MORGAN STANLEY
	Hartford Life Insurance Company
	CRC
	CRC61761JVM8
	15,900,000
	15,900,000
	15,923,691
	15,923,691
	1.01
	 Corporates 
	 Financials 
	 A3 
	 A 

	205944AB7
	CON-WAY INC
	Hartford Life Insurance Company
	LC2
	LC2205944AB7
	17,000,000
	17,000,000
	17,071,978
	17,459,000
	1.04
	 BIG Corporates 
	 HY Industrial 
	 B- 
	 BIG 

	22404QAF5
	COX COMMUNICATIONS INC MTN
	Hartford Life Insurance Company
	LC2
	LC222404QAF5
	2,675,000
	2,675,000
	2,703,585
	2,789,190
	1.04
	 Corporates 
	 Industrial 
	 BBB 
	 BBB 

	465685AE5
	ITC HOLDINGS CORP 144A
	Hartford Life Insurance Company
	CRC
	CRC465685AE5
	10,591,000
	10,591,000
	11,045,417
	11,045,417
	1.08
	 Corporates 
	 Utilities 
	 Baa2 
	 BBB 

	14042E3V0
	CAPITAL ONE NA/MCLEAN VA
	Hartford Life Insurance Company
	CRC
	CRC14042E3V0
	9,125,000
	9,125,000
	9,084,558
	9,084,558
	1.23
	 Corporates 
	 Financials 
	 BBB+ 
	 BBB 

	
														
	BHM0M35G7
	HTFD THE RIDGEW   PN Prvt
	Hartford Life Insurance Company
	CRC
	CRCBHM0M35G7
	10,000,000
	10,000,000
	10,009,835
	10,009,835
	1.25
	 CML 
	 CML 
	 Aa3 
	 AA 

	053643AG7
	AVEST_06-1A      C 144A
	Hartford Life Insurance Company
	CRC
	CRC053643AG7
	3,315,000
	3,315,000
	3,293,448
	3,293,448
	0.94
	 CLO 
	 CLO 
	 A3 
	 A 

	89236TCX1
	TOYOTA MOTOR CREDIT CORP MTN
	Hartford Life Insurance Company
	CRC
	CRC89236TCX1
	5,444,000
	5,444,000
	5,419,812
	5,419,812
	1.27
	 Corporates 
	 Industrials 
	 Aa3 
	 AA 

	04363UAC0
	ASCIANO FINANCE LTD        144A
	Hartford Life Insurance Company
	CRC
	CRC04363UAC0
	10,411,000
	10,411,000
	10,696,324
	10,696,324
	1.27
	 Corporates 
	 Industrials 
	 Baa3 
	 BBB 

	362320AZ6
	GTE CORP
	Hartford Life Insurance Company
	CRC
	CRC362320AZ6
	10,400,000
	10,400,000
	11,008,306
	11,008,306
	1.29
	 Corporates 
	 Industrials 
	 BBB+ 
	 BBB 

	151020AK0
	CELGENE CORPORATION
	Hartford Life Insurance Company
	CRC
	CRC151020AK0
	8,000,000
	8,000,000
	8,048,904
	8,048,904
	1.63
	 Corporates 
	 Industrials 
	 Baa2 
	 BBB 

	694308GN1
	PACIFIC GAS & ELECTRIC CO
	Hartford Life Insurance Company
	CRC
	CRC694308GN1
	10,000,000
	10,000,000
	11,101,310
	11,101,310
	1.79
	 Corporates 
	 Utilities 
	 A3 
	 A 

	BHM0LC9M1
	HTFD EVERGREEN    PN Prvt
	Hartford Life Insurance Company
	CRC
	CRCBHM0LC9M1
	16,500,000
	15,513,627
	15,787,872
	15,787,872
	1.88
	 CML 
	 CML 
	 A2 
	 A 

	56585AAK8
	MARATHON PETROLEUM CORP
	Hartford Life Insurance Company
	CRC
	CRC56585AAK8
	3,000,000
	3,000,000
	3,039,939
	3,039,939
	1.96
	 Corporates 
	 Industrials 
	 BBB 
	 BBB 

	62854AAA2
	MYLAN NV          144A
	Hartford Life Insurance Company
	CRC
	CRC62854AAA2
	5,390,000
	5,390,000
	5,428,980
	5,428,980
	1.96
	 Corporates 
	 Industrials 
	 BBB- 
	 BBB 

	075887AU3
	BECTON DICKINSON AND COMPANY
	Hartford Life Insurance Company
	CRC
	CRC075887AU3
	16,995,000
	16,995,000
	18,111,351
	18,111,351
	2.38
	 Corporates 
	 Industrials 
	 Baa2 
	 BBB 

	30165QAC4
	EART_14-1A       C 144A
	Hartford Life Insurance Company
	CRC
	CRC30165QAC4
	1,615,000
	1,615,000
	1,625,430
	1,625,430
	0.67
	 ABS 
	 Auto Loans 
	 A+ 
	 A 

	17305EDY8
	CCCIT_07-A8     A8
	Hartford Life Insurance Company
	CRC
	CRC17305EDY8
	6,400,000
	6,400,000
	6,598,566
	6,598,566
	0.72
	 ABS 
	 Credit Card 
	 AAA 
	 AAA 

	17305EDY8
	CCCIT_07-A8     A8
	Hartford Life Insurance Company
	LC2
	LC217305EDY8
	3,576,475
	3,576,475
	3,616,906
	3,687,439
	0.72
	 ABS 
	 Credit Card 
	 AAA 
	 AAA 

	03062AAE6
	AMCAR_14-3       B
	Hartford Life Insurance Company
	CRC
	CRC03062AAE6
	2,000,000
	2,000,000
	2,006,490
	2,006,490
	0.87
	 ABS 
	 Auto Loans 
	 Aaa 
	 AAA 

	14313QAF2
	CARMX_14-1       C
	Hartford Life Insurance Company
	CRC
	CRC14313QAF2
	1,840,000
	1,840,000
	1,849,498
	1,849,498
	1.21
	 ABS 
	 Auto Loans 
	 Aaa 
	 AAA 

	BHM0W7MC7
	LEVEL 3 FINANCING INC   TL-B2 Prvt
	Hartford Life Insurance Company
	CRC
	CRCBHM0W7MC7
	1,777,000
	1,777,000
	1,800,101
	1,800,101
	0.08
	 BIG Corporates 
	 Bank Loans 
	 BB+ 
	 BIG 

	96524UAC2
	WITEH_06-4A      B 144A
	Hartford Life Insurance Company
	CRC
	CRC96524UAC2
	1,901,000
	1,901,000
	1,866,274
	1,866,274
	1.71
	 CLO 
	 CLO 
	 AA+ 
	 AA 

	96524UAD0
	WITEH_06-4A      C 144A
	Hartford Life Insurance Company
	CRC
	CRC96524UAD0
	2,620,000
	2,620,000
	2,569,212
	2,569,212
	2.23
	 CLO 
	 CLO 
	 A2 
	 A 

	161571FU3
	CHAIT_13-A1     A1
	Hartford Life Insurance Company
	CRC
	CRC161571FU3
	11,750,000
	11,750,000
	11,742,821
	11,742,821
	1.13
	 ABS 
	 Credit Card 
	 AAA 
	 AAA 

	BHM12L080
	TRANSDIGM INC    TL-C Prvt
	Hartford Life Insurance Company
	CRC
	CRCBHM12L080
	1,974,154
	1,974,154
	1,987,104
	1,987,104
	0.08
	 BIG Corporates 
	 Bank Loans 
	 Ba2 
	 BIG 

	BHM12L080
	TRANSDIGM INC    TL-C Prvt
	Hartford Life Insurance Company
	LC2
	LC2BHM12L080
	2,664,546
	2,664,546
	2,644,138
	2,682,025
	0.08
	 BIG Corporates 
	 Bank Loans 
	 Ba2 
	 BIG 

	02587RAA5
	AMXCA_12-4       C 144A
	Hartford Life Insurance Company
	CRC
	CRC02587RAA5
	15,000,000
	15,000,000
	14,990,820
	14,990,820
	0.80
	 ABS 
	 Credit Card 
	 AA- 
	 AA 

	48123VAB8
	J2 GLOBAL INC
	Hartford Life Insurance Company
	CRC
	CRC48123VAB8
	2,657,000
	2,657,000
	2,763,280
	2,763,280
	0.59
	 BIG Corporates 
	 HY Industrials 
	 Ba3 
	 BIG 

	48123VAB8
	J2 GLOBAL INC
	Hartford Life Insurance Company
	LC2
	LC248123VAB8
	1,896,000
	1,896,000
	1,925,188
	1,971,840
	0.59
	 BIG Corporates 
	 HY Industrials 
	 Ba3 
	 BIG 

	941574AB1
	WTFRT_07-1A     A2 144A
	Hartford Life Insurance Company
	CRC
	CRC941574AB1
	1,800,000
	1,800,000
	1,787,030
	1,787,030
	1.86
	 CLO 
	 CLO 
	 Aaa 
	 AAA 

	BHM1C6FW3
	CABELAS INCORPORATED       Prvt
	Hartford Life Insurance Company
	CRC
	CRCBHM1C6FW3
	17,000,000
	17,000,000
	17,165,410
	17,165,410
	3.59
	 Corporates 
	 Industrials 
	 Baa2 
	 BBB 

	14313QAG0
	CARMX_14-1       D
	Hartford Life Insurance Company
	CRC
	CRC14313QAG0
	2,200,000
	2,200,000
	2,199,153
	2,199,153
	1.21
	 ABS 
	 Auto Loans 
	 BBB 
	 BBB 

	78443CAZ7
	SLMA_03-C       A2
	Hartford Life Insurance Company
	CRC
	CRC78443CAZ7
	23,282,000
	3,058,725
	3,031,793
	3,031,793
	0.94
	 ABS 
	 Student Loans 
	 A- 
	 A 

	78443CAZ7
	SLMA_03-C       A2
	Hartford Life Insurance Company
	LC2
	LC278443CAZ7
	6,473,500
	850,471
	846,882
	842,982
	0.94
	 ABS 
	 Student Loans 
	 A- 
	 A 

	319963BE3
	FIRST DATA CORPORATION     144A
	Hartford Life Insurance Company
	CRC
	CRC319963BE3
	1,068,000
	1,068,000
	1,108,050
	1,108,050
	0.08
	 BIG Corporates 
	 HY Industrials 
	 BB 
	 BIG 

	
														
	57701RAA0
	MATTAMY GROUP CORP         144A
	Hartford Life Insurance Company
	CRC
	CRC57701RAA0
	1,526,000
	1,526,000
	1,548,890
	1,548,890
	1.88
	 BIG Corporates 
	 HY Industrials 
	 B1 
	 BIG 

	BHM1KFGX1
	NXP BV           TL B Prvt
	Hartford Life Insurance Company
	CRC
	CRCBHM1KFGX1
	1,345,625
	1,345,625
	1,351,681
	1,351,681
	0.21
	 BIG Corporates 
	 Bank Loans 
	 BBB- 
	 BBB 

	46186GAJ2
	INWD_06-1A       C 144A
	Hartford Life Insurance Company
	CRC
	CRC46186GAJ2
	2,397,000
	2,397,000
	2,395,626
	2,395,626
	0.06
	 CLO 
	 CLO 
	 Aaa 
	 AAA 

	959319AG9
	WESTERN REFINING INC
	Hartford Life Insurance Company
	CRC
	CRC959319AG9
	1,330,000
	1,330,000
	1,379,875
	1,379,875
	0.25
	 BIG Corporates 
	 HY Industrials 
	 B3 
	 BIG 

	224607AD3
	CRTOS_07-1A      C 144A
	Hartford Life Insurance Company
	CRC
	CRC224607AD3
	5,481,000
	5,481,000
	5,398,751
	5,398,751
	1.92
	 CLO 
	 CLO 
	 Aaa 
	 AAA 

	BHM0K2BG4
	HTFD ORCHARD GL   PN Prvt
	Hartford Life Insurance Company
	LC2
	LC2BHM0K2BG4
	30,000,000
	28,403,799
	28,403,799
	30,219,030
	4.23
	 CML 
	 CML 
	 A1 
	 A 

	374825AA5
	GIBSON ENERGY INC 144A
	Hartford Life Insurance Company
	CRC
	CRC374825AA5
	1,243,000
	1,243,000
	1,289,613
	1,289,613
	2.54
	 BIG Corporates 
	 HY Industrials 
	 Ba2 
	 BIG 

	BHM0JLKV1
	HTFD KINGSTOWNE   PN Prvt
	Hartford Life Insurance Company
	CRC
	CRCBHM0JLKV1
	10,000,000
	8,887,858
	9,547,858
	9,547,858
	4.34
	 CML 
	 CML 
	 Aa3 
	 AA 

	88160QAD5
	TESORO LOGISTICS LP/TESORO LOGISTI
	Hartford Life Insurance Company
	CRC
	CRC88160QAD5
	1,133,000
	1,133,000
	1,189,650
	1,189,650
	0.12
	 BIG Corporates 
	 HY Industrials 
	 Ba3 
	 BIG 

	33882VAL9
	FLAT_12-1A     A2R 144A
	Hartford Life Insurance Company
	CRC
	CRC33882VAL9
	2,000,000
	2,000,000
	1,996,464
	1,996,464
	4.95
	 CLO 
	 CLO 
	 AA+ 
	 AA 

	20605PAC5
	CONCHO RESOURCES INC
	Hartford Life Insurance Company
	CRC
	CRC20605PAC5
	1,428,000
	1,428,000
	1,477,552
	1,477,552
	0.08
	 BIG Corporates 
	 HY Industrials 
	 Ba2 
	 BIG 

	BHM0M39B4
	HTFD VILLAGE SH   PN Prvt
	Hartford Life Insurance Company
	CRC
	CRCBHM0M39B4
	16,000,000
	15,543,972
	15,724,837
	15,724,837
	4.98
	 CML 
	 CML 
	 A2 
	 A 

	14309JAQ0
	CGMS_12-1AR     BR 144A
	Hartford Life Insurance Company
	CRC
	CRC14309JAQ0
	8,074,000
	8,074,000
	8,073,950
	8,073,950
	3.23
	 CLO 
	 CLO 
	 AA 
	 AA 

	14309JAS6
	CGMS_12-1AR     CR 144A
	Hartford Life Insurance Company
	CRC
	CRC14309JAS6
	9,721,000
	9,721,000
	9,721,234
	9,721,234
	3.60
	 CLO 
	 CLO 
	 A 
	 A 

	277345AE4
	EASTL_07-1A    A2B 144A
	Hartford Life Insurance Company
	CRC
	CRC277345AE4
	16,323,000
	16,323,000
	16,158,781
	16,158,781
	1.77
	 CLO 
	 CLO 
	 Aaa 
	 AAA 

	21036PAH1
	CONSTELLATION BRANDS INC
	Hartford Life Insurance Company
	CRC
	CRC21036PAH1
	10,108,000
	10,108,000
	11,400,207
	11,400,207
	5.34
	 Corporates 
	 Industrials 
	 BBB- 
	 BBB 

	382550BC4
	GOODYEAR TIRE & RUBBER COMPANY (TH
	Hartford Life Insurance Company
	CRC
	CRC382550BC4
	1,182,000
	1,182,000
	1,247,010
	1,247,010
	0.38
	 BIG Corporates 
	 HY Industrials 
	 BB 
	 BIG 

	16524RAE3
	WILLIAMS PARTNERS LP/ACMP FINANCE
	Hartford Life Insurance Company
	CRC
	CRC16524RAE3
	9,555,000
	9,555,000
	9,855,333
	9,855,333
	0.08
	 Corporates 
	 Industrials 
	 BBB- 
	 BBB 

	95736XAB4
	WCHC_07-1A     A1B 144A
	Hartford Life Insurance Company
	CRC
	CRC95736XAB4
	10,350,000
	10,350,000
	10,247,550
	10,247,550
	1.95
	 CLO 
	 CLO 
	 Aaa 
	 AAA 

	858119AV2
	STEEL DYNAMICS INC
	Hartford Life Insurance Company
	CRC
	CRC858119AV2
	1,574,000
	1,574,000
	1,640,895
	1,640,895
	0.63
	 BIG Corporates 
	 HY Industrials 
	 Ba2 
	 BIG 

	69688XAC5
	PLMRS_14-1A     A2 144A
	Hartford Life Insurance Company
	CRC
	CRC69688XAC5
	3,424,000
	3,424,000
	3,424,000
	3,424,000
	3.65
	 CLO 
	 CLO 
	 AA 
	 AA 

	69688XAE1
	PLMRS_14-1A      B 144A
	Hartford Life Insurance Company
	CRC
	CRC69688XAE1
	2,250,000
	2,250,000
	2,250,000
	2,250,000
	4.01
	 CLO 
	 CLO 
	 A 
	 A 

	22533WAC3
	CAALT_15-1A      B 144A
	Hartford Life Insurance Company
	LC2
	LC222533WAC3
	1,070,000
	1,070,000
	1,069,923
	1,072,063
	1.35
	 ABS 
	 Auto 
	 AA 
	 AA  

	20605PAE1
	CONCHO RESOURCES INC
	Hartford Life Insurance Company
	CRC
	CRC20605PAE1
	1,923,000
	1,923,000
	1,992,805
	1,992,805
	0.75
	 BIG Corporates 
	 HY Industrials 
	 Ba2 
	 BIG 

	20605PAE1
	CONCHO RESOURCES INC
	Hartford Life Insurance Company
	LC2
	LC220605PAE1
	2,531,000
	2,531,000
	2,564,160
	2,622,875
	0.75
	 BIG Corporates 
	 HY Industrials 
	 Ba2 
	 BIG 

	12627UAB7
	COAS_14-1A      A2 144A
	Hartford Life Insurance Company
	CRC
	CRC12627UAB7
	1,500,000
	1,500,000
	1,499,916
	1,499,916
	4.04
	 CLO 
	 CLO 
	 Aaa 
	 AAA 

	35553AAL8
	FRASR_12-7A    A2R 144A
	Hartford Life Insurance Company
	CRC
	CRC35553AAL8
	3,243,000
	3,243,000
	3,242,753
	3,242,753
	2.95
	 CLO 
	 CLO 
	 AA 
	 AA 

	BHM1KBQH4
	WESTERN DIGITAL CORPORATION    TL B Prvt
	Hartford Life Insurance Company
	CRC
	CRCBHM1KBQH4
	1,286,336
	1,286,336
	1,306,030
	1,306,030
	0.08
	 BIG Corporates 
	 Bank Loans 
	 BBB- 
	 BBB 

	26613TAF7
	DUPONT FABROS TECHNOLOGY LP
	Hartford Life Insurance Company
	CRC
	CRC26613TAF7
	1,253,000
	1,253,000
	1,309,385
	1,309,385
	4.46
	 BIG Corporates 
	 HY Financials 
	 BB 
	 BIG 

	48274DAA7
	KVK_12-1A        A 144A
	Hartford Life Insurance Company
	CRC
	CRC48274DAA7
	11,387,000
	4,444,853
	4,444,828
	4,444,828
	1.31
	 CLO 
	 CLO 
	 AAA 
	 AAA 

	3137G0AC3
	STACR_13-DN2    M1
	Hartford Life Insurance Company
	LC2
	LC23137G0AC3
	5,826,150
	1,563,669
	1,562,946
	1,567,250
	0.77
	 MBS 
	 CMO Non Agency 
	 A 
	 A 

	
														
	04941DAL9
	ATCLO_12-2A     BR 144A
	Hartford Life Insurance Company
	CRC
	CRC04941DAL9
	2,700,000
	2,700,000
	2,694,408
	2,694,408
	4.98
	 CLO 
	 CLO 
	 AA+ 
	 AA 

	04941DAN5
	ATCLO_12-2A     CR 144A
	Hartford Life Insurance Company
	CRC
	CRC04941DAN5
	3,600,000
	3,600,000
	3,590,258
	3,590,258
	5.51
	 CLO 
	 CLO 
	 A+ 
	 A 

	920479AA0
	VALVOLINE FINCO TWO LLC    144A
	Hartford Life Insurance Company
	CRC
	CRC920479AA0
	1,512,000
	1,512,000
	1,564,920
	1,564,920
	5.54
	 BIG Corporates 
	 HY Industrials 
	 Ba3 
	 BIG 

	04941CAN7
	ATCLO_12-1A   A2LR 144A
	Hartford Life Insurance Company
	CRC
	CRC04941CAN7
	2,800,000
	2,800,000
	2,795,892
	2,795,892
	3.79
	 CLO 
	 CLO 
	 AA+ 
	 AA 

	04941CAQ0
	ATCLO_12-1A   A3LR 144A
	Hartford Life Insurance Company
	CRC
	CRC04941CAQ0
	1,500,000
	1,500,000
	1,495,241
	1,495,241
	4.34
	 CLO 
	 CLO 
	 A+ 
	 A 

	74982GAP6
	RACEP_12-7A     BR 144A
	Hartford Life Insurance Company
	CRC
	CRC74982GAP6
	4,500,000
	4,500,000
	4,501,002
	4,501,002
	5.19
	 CLO 
	 CLO 
	 AA 
	 AA 

	36804PAF3
	GATX CORP         144A
	Hartford Life Insurance Company
	CRC
	CRC36804PAF3
	12,000,000
	5,807,907
	6,126,610
	6,126,610
	8.01
	 Corporates 
	 Financials 
	 Baa1 
	 BBB 

	26250JAJ9
	DRSLF_12-25A   B1R 144A
	Hartford Life Insurance Company
	CRC
	CRC26250JAJ9
	2,000,000
	2,000,000
	1,996,984
	1,996,984
	5.83
	 CLO 
	 CLO 
	 AA 
	 AA 

	69689XAC4
	PSTAT_16-3A     A2 144A
	Hartford Life Insurance Company
	CRC
	CRC69689XAC4
	2,800,000
	2,800,000
	2,792,756
	2,792,756
	6.66
	 CLO 
	 CLO 
	 AA 
	 AA 

	69689XAE0
	PSTAT_16-3A      B 144A
	Hartford Life Insurance Company
	CRC
	CRC69689XAE0
	2,500,000
	2,500,000
	2,490,402
	2,490,402
	6.88
	 CLO 
	 CLO 
	 A 
	 A 

	69689XAC4
	PSTAT_16-3A     A2 144A
	Hartford Life Insurance Company
	LC2
	LC269689XAC4
	3,156,500
	3,156,500
	3,156,500
	3,148,334
	6.66
	 CLO 
	 CLO 
	 AA 
	 AA 

	69689XAE0
	PSTAT_16-3A      B 144A
	Hartford Life Insurance Company
	LC2
	LC269689XAE0
	3,210,000
	3,210,000
	3,210,000
	3,197,676
	6.88
	 CLO 
	 CLO 
	 A 
	 A 

	87612BAZ5
	TARGA RESOURCES PARTNERS LP/TARGA 144A
	Hartford Life Insurance Company
	CRC
	CRC87612BAZ5
	1,107,000
	1,107,000
	1,098,698
	1,098,698
	8.09
	 BIG Corporates 
	 HY Industrials 
	 Ba3 
	 BIG 

	03674XAG1
	ANTERO RESOURCES CORP      144A
	Hartford Life Insurance Company
	CRC
	CRC03674XAG1
	1,784,000
	1,784,000
	1,744,770
	1,744,770
	8.17
	 BIG Corporates 
	 HY Industrials 
	 Ba3 
	 BIG 

	31389XE41
	Freddie /Fannie Agency MBS
	Hartford Life Insurance Company
	CRC
	CRC31389XE41
	6,545,326
	35,089
	39,698
	39,698
	3.82
	 MBS 
	 MBS 
	 Govt 
	 govt 

	19624MAE7
	CAH_14-2A        C 144A
	Hartford Life Insurance Company
	LC2
	LC219624MAE7
	4,547,500
	4,547,500
	4,547,500
	4,539,919
	2.58
	 ABS 
	 Other ABS 
	 A1 
	 A 

	31388QT66
	Govt
	Hartford Life Insurance Company
	LC2
	LC231388QT66
	267,527
	3,266
	3,355
	3,695
	4.35
	 MBS 
	 MBS 
	 Govt 
	 Govt 

	31390F4K2
	Freddie /Fannie Agency MBS
	Hartford Life Insurance Company
	CRC
	CRC31390F4K2
	2,757,357
	27,943
	31,614
	31,614
	4.60
	 MBS 
	 MBS 
	 Govt 
	 govt 

	31390RMY6
	Freddie /Fannie Agency MBS
	Hartford Life Insurance Company
	CRC
	CRC31390RMY6
	1,946,482
	3,209
	3,631
	3,631
	4.60
	 MBS 
	 MBS 
	 Govt 
	 govt 

	03072SXY6
	AMSI_05-R1      M1
	Hartford Life Insurance Company
	LC2
	LC203072SXY6
	11,235,000
	1,083,676
	1,083,676
	1,083,681
	0.32
	 ABS 
	 Home Equity 
	 A 
	 A 

	04541GRM6
	ABSHE_05-HE4    M3
	Hartford Life Insurance Company
	CRC
	CRC04541GRM6
	7,500,000
	2,343,676
	2,342,141
	2,342,141
	0.39
	 ABS 
	 Home Equity 
	 AAA 
	 AAA 

	437084KS4
	HEAT_05-3       M3
	Hartford Life Insurance Company
	LC2
	LC2437084KS4
	2,541,250
	925,136
	924,456
	922,266
	0.35
	 ABS 
	 Home Equity 
	 A+ 
	 A 

	542514NB6
	LBMLT_05-WL2    M1
	Hartford Life Insurance Company
	LC2
	LC2542514NB6
	4,280,000
	1,097,669
	1,097,669
	1,091,760
	0.91
	 ABS 
	 Home Equity 
	 Ba3 
	 BIG 

	46625MP52
	JPMCC_03-CB7     D
	Hartford Life Insurance Company
	LC2
	LC246625MP52
	2,541,785
	1,485,086
	1,475,792
	1,507,145
	0.62
	 CMBS 
	 CMBS 
	 Aaa 
	 AAA 

	173067EK1
	CGCMT_04-C2      D
	Hartford Life Insurance Company
	LC2
	LC2173067EK1
	1,872,500
	1,872,500
	1,872,500
	1,871,148
	0.04
	 CMBS 
	 CMBS 
	 AA 
	 AA  

	19075CAD5
	CWCI_07-C2      A3
	Hartford Life Insurance Company
	CRC
	CRC19075CAD5
	5,500,000
	3,044,917
	3,052,840
	3,052,840
	0.15
	 CMBS 
	 CMBS 
	 Aaa 
	 AAA 

	92978TAE1
	WBCMT_07-C31    A4
	Hartford Life Insurance Company
	CRC
	CRC92978TAE1
	14,700,000
	9,933,721
	9,953,141
	9,953,141
	0.18
	 CMBS 
	 CMBS 
	 Aaa 
	 AAA 

	17291CBX2
	CGCMT_16-C2     XB
	Hartford Life Insurance Company
	LC2
	LC217291CBX2
	36,664,085
	36,664,085
	2,628,361
	2,482,159
	9.36
	 CMBS 
	 CMBS IO 
	 A- 
	 A 

	17313KAF8
	CGCMT_08-C7     A4
	Hartford Life Insurance Company
	CRC
	CRC17313KAF8
	16,760,000
	13,714,906
	13,987,832
	13,987,832
	0.54
	 CMBS 
	 CMBS 
	 Aaa 
	 AAA 

	59025KAE2
	MLMT_07-C1      A4
	Hartford Life Insurance Company
	CRC
	CRC59025KAE2
	18,235,000
	16,962,062
	17,104,967
	17,104,967
	0.41
	 CMBS 
	 CMBS 
	 BBB+ 
	 BBB 

ANNEX B-1
ASSETS IN CONNECTION WITH ESTIMATED INITIAL REINSURANCE PREMIUM PART B
[see attached]

	
								
	 CUSIP 
	Position Description
	Legal Entity
	 Portfolio 
	Par/Shares
	Closing Date Market Value (excl Accrued)
	Accrued Interest
	UniqueID

	46640JAT4
	JPMCC_13-C13    XA
	Hartford Life Insurance Company
	CRC
	(28,059,079)
	(164,118)
	 NA 
	CRC46640JAT4

	12630DAZ7
	COMM_14-CR14    XA
	Hartford Life Insurance Company
	CRC
	(3,880,150)
	(96,317)
	 NA 
	CRC12630DAZ7

	92938JAH5
	WFRBS_13-UBS1     XA
	Hartford Life Insurance Company
	CRC
	(1,680,529)
	(42,751)
	 NA 
	CRC92938JAH5

	96221QAH6
	WFRBS_13-C18    XA
	Hartford Life Insurance Company
	CRC
	(3,110,864)
	(88,958)
	 NA 
	CRC96221QAH6

	17321RAF3
	CGCMT_13-GC17     XA
	Hartford Life Insurance Company
	CRC
	(1,253,152)
	(42,444)
	 NA 
	CRC17321RAF3

	36248GAF7
	GSMS_13-GC16    XA
	Hartford Life Insurance Company
	CRC
	(1,270,019)
	(45,069)
	 NA 
	CRC36248GAF7

	3137APPA2
	FHMS_K018       X1
	Hartford Life Insurance Company
	CRC
	(66,172,233)
	(2,596,095)
	 NA 
	CRC3137APPA2

	92938GAG3
	WFRBS_13-C17    XA
	Hartford Life Insurance Company
	CRC
	(841,203)
	(33,053)
	 NA 
	CRC92938GAG3

	12635FAV6
	CSAIL_15-C3     XA
	Hartford Life Insurance Company
	CRC
	(885,764)
	(35,386)
	 NA 
	CRC12635FAV6

	61763BAV6
	MSBAM_13-C13    XA
	Hartford Life Insurance Company
	CRC
	(704,857)
	(28,910)
	 NA 
	CRC61763BAV6

	17324DBA1
	CGCMT_15-P1     XA
	Hartford Life Insurance Company
	CRC
	(918,173)
	(39,185)
	 NA 
	CRC17324DBA1

	61765LAV2
	MSBAM_15-C24    XA
	Hartford Life Insurance Company
	CRC
	(605,656)
	(25,990)
	 NA 
	CRC61765LAV2

	12593JBG0
	COMM_15-CR24    XA
	Hartford Life Insurance Company
	CRC
	(3,128,038)
	(144,240)
	 NA 
	CRC12593JBG0

	61691EBB0
	MSC_16-UB12     XA
	Hartford Life Insurance Company
	CRC
	(920,059)
	(42,694)
	 NA 
	CRC61691EBB0

	20048EAZ4
	COMM_13-LC6     XA
	Hartford Life Insurance Company
	CRC
	(18,203,066)
	(960,467)
	 NA 
	CRC20048EAZ4

	36197XAM6
	GSMS_13-GC12    XA
	Hartford Life Insurance Company
	CRC
	(40,666,907)
	(2,292,052)
	 NA 
	CRC36197XAM6

	92890NAA7
	WFRBS_12-C10    XA 144A
	Hartford Life Insurance Company
	CRC
	(88,152,150)
	(5,035,066)
	 NA 
	CRC92890NAA7

	46590RAG4
	JPMCC_16-JP3    XA
	Hartford Life Insurance Company
	CRC
	(219,496)
	(18,793)
	 NA 
	CRC46590RAG4

	17325DAJ2
	CGCMT_16-P5     XA
	Hartford Life Insurance Company
	CRC
	(36,951,512)
	(3,280,869)
	 NA 
	CRC17325DAJ2

	95000GBB9
	WFCM_16-BNK1    XA
	Hartford Life Insurance Company
	CRC
	(192,452)
	(21,528)
	 NA 
	CRC95000GBB9

	35906AAZ1
	FRONTIER COMMUNICATIONS CORP
	Hartford Life Insurance Company
	CRC
	(1,307,000)
	(1,040,699)
	 NA 
	CRC35906AAZ1

	88167AAE1
	TEVA PHARMACEUTICAL FINANCE NETHER
	Hartford Life Insurance Company
	CRC
	(5,145,000)
	(4,147,981)
	 NA 
	CRC88167AAE1

	00432CBZ3
	ACCSS_04-2       B
	Hartford Life Insurance Company
	CRC
	(496,767)
	(433,846)
	 NA 
	CRC00432CBZ3

	349553AL1
	FORTIS INC        144A
	Hartford Life Insurance Company
	CRC
	(16,800,000)
	(15,386,734)
	 NA 
	CRC349553AL1

	74913EAJ9
	QWEST CAPITAL FUNDING
	Hartford Life Insurance Company
	CRC
	(1,195,000)
	(1,098,540)
	 NA 
	CRC74913EAJ9

	29364GAJ2
	ENTERGY CORPORATION
	Hartford Life Insurance Company
	CRC
	(7,600,000)
	(6,974,094)
	 NA 
	CRC29364GAJ2

	
								
	912828U24
	TREASURY NOTE (OTR)
	Hartford Life Insurance Company
	CRC
	(23,850,000)
	(22,182,360)
	 NA 
	CRC912828U24

	92553PBB7
	VIACOM INC
	Hartford Life Insurance Company
	CRC
	(24,316,000)
	(22,453,297)
	 NA 
	CRC92553PBB7

	912828T91
	TREASURY NOTE (2OLD)
	Hartford Life Insurance Company
	CRC
	(6,560,000)
	(6,175,112)
	 NA 
	CRC912828T91

	91086QBB3
	MEXICO (UNITED MEXICAN STATES) MTN
	Hartford Life Insurance Company
	CRC
	(1,500,000)
	(1,404,000)
	 NA 
	CRC91086QBB3

	82481LAC3
	SHIRE ACQUISITIONS INVESTMENTS IRE
	Hartford Life Insurance Company
	CRC
	(5,095,000)
	(4,807,219)
	 NA 
	CRC82481LAC3

	87612BAP7
	TARGA RESOURCES PARTNERS LP/TARGA
	Hartford Life Insurance Company
	CRC
	(222,000)
	(211,455)
	 NA 
	CRC87612BAP7

	38379U2R6
	GNR_16-178      EA
	Hartford Life Insurance Company
	CRC
	(43,373)
	(41,327)
	 NA 
	CRC38379U2R6

	912828T67
	TREASURY NOTE (2OLD)
	Hartford Life Insurance Company
	CRC
	(18,260,000)
	(17,413,320)
	 NA 
	CRC912828T67

	92769XAL9
	VIRGIN MEDIA SECURED FINANCE PLC 144A
	Hartford Life Insurance Company
	CRC
	(875,000)
	(821,406)
	 NA 
	CRC92769XAL9

	36164Q6M5
	GE CAPITAL INTERNATIONAL FUNDING C
	Hartford Life Insurance Company
	CRC
	(4,816,000)
	(4,616,343)
	 NA 
	CRC36164Q6M5

	131347CK0
	CALPINE CORP      144A
	Hartford Life Insurance Company
	CRC
	(193,000)
	(182,385)
	 NA 
	CRC131347CK0

	983130AU9
	WYNN LAS VEGAS LLC / WYNN LAS VEGA 144A
	Hartford Life Insurance Company
	CRC
	(1,145,000)
	(1,094,906)
	 NA 
	CRC983130AU9

	38082JAA7
	GLDN_16-2A       A 144A
	Hartford Life Insurance Company
	CRC
	(661,830)
	(635,357)
	 NA 
	CRC38082JAA7

	410345AL6
	HANESBRANDS INC   144A
	Hartford Life Insurance Company
	CRC
	-548,000
	-528,820
	 NA
	CRC410345AL6

	BHM0M26W3
	HTFD FARRAGUT W   PN Prvt
	Hartford Life Insurance Company
	CRC
	5,216,122
	5,019,760
	               13,185 
	CRCBHM0M26W3

	36962GW75
	GENERAL ELECTRIC CAPITAL CORP MTN
	Hartford Life Insurance Company
	CRC
	(10,255,000)
	(9,974,105)
	 NA 
	CRC36962GW75

	912828U57
	TREASURY NOTE (OLD)
	Hartford Life Insurance Company
	CRC
	(1,500,000)
	(1,448,202)
	 NA 
	CRC912828U57

	693304AP2
	PECO ENERGY CO
	Hartford Life Insurance Company
	CRC
	(10,300,000)
	(9,941,045)
	 NA 
	CRC693304AP2

	38145GAG5
	GOLDMAN SACHS GROUP INC/THE
	Hartford Life Insurance Company
	CRC
	(6,555,000)
	(6,331,239)
	 NA 
	CRC38145GAG5

	281020AJ6
	EDISON INTERNATIONAL
	Hartford Life Insurance Company
	CRC
	(7,500,000)
	(7,231,440)
	 NA 
	CRC281020AJ6

	3132WEB43
	Freddie /Fannie Agency MBS
	Hartford Life Insurance Company
	CRC
	(2,514,920)
	(2,427,820)
	 NA 
	CRC3132WEB43

	3132WED25
	Freddie /Fannie Agency MBS
	Hartford Life Insurance Company
	CRC
	(845,586)
	(816,433)
	 NA 
	CRC3132WED25

	3138WG5Q3
	Freddie /Fannie Agency MBS
	Hartford Life Insurance Company
	CRC
	(1,882,500)
	(1,818,280)
	 NA 
	CRC3138WG5Q3

	3138WHFN7
	Freddie /Fannie Agency MBS
	Hartford Life Insurance Company
	CRC
	(1,808,497)
	(1,746,815)
	 NA 
	CRC3138WHFN7

	3140F5QW6
	Freddie /Fannie Agency MBS
	Hartford Life Insurance Company
	CRC
	(22,153,146)
	(21,397,923)
	 NA 
	CRC3140F5QW6

	3138WHFR8
	Freddie /Fannie Agency MBS
	Hartford Life Insurance Company
	CRC
	(6,050,682)
	(5,844,414)
	 NA 
	CRC3138WHFR8

	3140F5MJ9
	Freddie /Fannie Agency MBS
	Hartford Life Insurance Company
	CRC
	(3,289,763)
	(3,177,629)
	 NA 
	CRC3140F5MJ9

	
								
	969457BU3
	WILLIAMS COS INC
	Hartford Life Insurance Company
	CRC
	(97,000)
	(94,696)
	 NA 
	CRC969457BU3

	912828U65
	TREASURY NOTE (OLD)
	Hartford Life Insurance Company
	CRC
	(800,000)
	(775,094)
	 NA 
	CRC912828U65

	617451ER6
	MSAC_06-HE2     A1
	Hartford Life Insurance Company
	CRC
	(405,157)
	(393,172)
	 NA 
	CRC617451ER6

	46623EKG3
	JPMORGAN CHASE & CO MTN
	Hartford Life Insurance Company
	CRC
	(27,500,000)
	(26,690,180)
	 NA 
	CRC46623EKG3

	07274EAG8
	BAYER US FINANCE LLC       144A
	Hartford Life Insurance Company
	CRC
	(14,435,000)
	(14,014,436)
	 NA 
	CRC07274EAG8

	00507UAF8
	ACTAVIS FUNDING SCS
	Hartford Life Insurance Company
	CRC
	(14,795,000)
	(14,460,012)
	 NA 
	CRC00507UAF8

	00817YAQ1
	AETNA INC
	Hartford Life Insurance Company
	CRC
	(5,400,000)
	(5,266,350)
	 NA 
	CRC00817YAQ1

	90320MAA3
	UPCB FINANCE IV LTD        144A
	Hartford Life Insurance Company
	CRC
	(921,000)
	(887,034)
	 NA 
	CRC90320MAA3

	887317AZ8
	TIME WARNER INC
	Hartford Life Insurance Company
	CRC
	(11,437,000)
	(11,070,478)
	 NA 
	CRC887317AZ8

	92937UAH1
	WFRBS_13-C13     C
	Hartford Life Insurance Company
	CRC
	(2,380,000)
	(2,334,732)
	 NA 
	CRC92937UAH1

	BHM1JRHW8
	MCGRAW-HILL GLOBAL EDUCATION     TLB Prvt
	Hartford Life Insurance Company
	CRC
	(1,416,875)
	(1,377,911)
	 NA 
	CRCBHM1JRHW8

	46639YAW7
	JPMCC_13-LC11      C
	Hartford Life Insurance Company
	CRC
	(2,760,000)
	(2,710,417)
	 NA 
	CRC46639YAW7

	532716AN7
	LIMITED BRANDS INC
	Hartford Life Insurance Company
	CRC
	(383,000)
	(353,318)
	 NA 
	CRC532716AN7

	82481LAA7
	SHIRE ACQUISITIONS INVESTMENTS IRE
	Hartford Life Insurance Company
	CRC
	(12,130,000)
	(11,951,107)
	 NA 
	CRC82481LAA7

	760942BA9
	URUGUAY (ORIENTAL REPUBLIC OF)
	Hartford Life Insurance Company
	CRC
	(1,890,000)
	(1,856,169)
	 NA 
	CRC760942BA9

	00507UAR2
	ACTAVIS FUNDING SCS
	Hartford Life Insurance Company
	CRC
	(16,450,000)
	(16,189,958)
	 NA 
	CRC00507UAR2

	B0A016S52
	PERU (THE REPUBLIC OF)
	Hartford Life Insurance Company
	CRC
	(2,520,000)
	(2,473,813)
	 NA 
	CRCB0A016S52

	731011AT9
	POLAND (REPUBLIC OF)
	Hartford Life Insurance Company
	CRC
	(1,675,000)
	(1,637,313)
	 NA 
	CRC731011AT9

	857477AN3
	STATE STREET CORP
	Hartford Life Insurance Company
	CRC
	(13,000,000)
	(12,804,779)
	 NA 
	CRC857477AN3

	87165BAD5
	SYNCHRONY FINANCIAL
	Hartford Life Insurance Company
	CRC
	(8,550,000)
	(8,446,707)
	 NA 
	CRC87165BAD5

	75156XAC5
	RAMP_06-RZ4     A3
	Hartford Life Insurance Company
	CRC
	(85,270)
	(83,977)
	 NA 
	CRC75156XAC5

	78443CCY8
	SLMA_06-BW      A5
	Hartford Life Insurance Company
	CRC
	(1,350,943)
	(1,325,645)
	 NA 
	CRC78443CCY8

	539830BH1
	LOCKHEED MARTIN CORPORATION
	Hartford Life Insurance Company
	CRC
	(5,625,000)
	(5,557,928)
	 NA 
	CRC539830BH1

	61746BDZ6
	MORGAN STANLEY
	Hartford Life Insurance Company
	CRC
	(5,000,000)
	(4,951,240)
	 NA 
	CRC61746BDZ6

	BHM191228
	TRITON CONTAINER INTERNATIONAL LTD Prvt
	Hartford Life Insurance Company
	CRC
	(3,000,000)
	(2,959,682)
	 NA 
	CRCBHM191228

	86359UAE9
	SASC_06-OPT1    A5
	Hartford Life Insurance Company
	CRC
	(489,178)
	(482,669)
	 NA 
	CRC86359UAE9

	24702RAF8
	DELL INC
	Hartford Life Insurance Company
	CRC
	(956,000)
	(934,490)
	 NA 
	CRC24702RAF8

	
								
	37045XAW6
	GENERAL MOTORS FINANCIAL CO INC
	Hartford Life Insurance Company
	CRC
	(5,000,000)
	(4,937,685)
	 NA 
	CRC37045XAW6

	00287YAT6
	ABBVIE INC
	Hartford Life Insurance Company
	CRC
	(18,065,000)
	(17,887,475)
	 NA 
	CRC00287YAT6

	00434QAA6
	ACCSS_13-1       A 144A
	Hartford Life Insurance Company
	CRC
	(509,728)
	(504,154)
	 NA 
	CRC00434QAA6

	05530QAG5
	BAT INTERNATIONAL FINANCE PLC 144A
	Hartford Life Insurance Company
	CRC
	(15,100,000)
	(14,952,654)
	 NA 
	CRC05530QAG5

	585055BS4
	MEDTRONIC INC
	Hartford Life Insurance Company
	CRC
	(3,760,000)
	(3,735,714)
	 NA 
	CRC585055BS4

	86562MAC4
	SUMITOMO MITSUI FINANCIAL GROUP IN
	Hartford Life Insurance Company
	CRC
	(7,355,000)
	(7,298,124)
	 NA 
	CRC86562MAC4

	709599AS3
	PENSKE TRUCK LEASING COMPANY LP / 144A
	Hartford Life Insurance Company
	CRC
	(11,000,000)
	(10,901,308)
	 NA 
	CRC709599AS3

	606822AA2
	MITSUBISHI UFJ FINANCIAL GROUP INC
	Hartford Life Insurance Company
	CRC
	(3,543,000)
	(3,512,388)
	 NA 
	CRC606822AA2

	637432MQ5
	NATIONAL RURAL UTILITIES COOP FINA
	Hartford Life Insurance Company
	CRC
	(4,245,000)
	(4,219,746)
	 NA 
	CRC637432MQ5

	80556XAA5
	SAST_06-2       A1
	Hartford Life Insurance Company
	CRC
	(1,284,911)
	(1,273,581)
	 NA 
	CRC80556XAA5

	002824BC3
	ABBOTT LABORATORIES
	Hartford Life Insurance Company
	CRC
	(6,668,000)
	(6,629,492)
	 NA 
	CRC002824BC3

	BHM0RMP52
	HTFD LIT IX WHL   PN Prvt
	Hartford Life Insurance Company
	CRC
	(739,584)
	(733,610)
	 NA 
	CRCBHM0RMP52

	035242AL0
	ANHEUSER-BUSCH INBEV FINANCE INC
	Hartford Life Insurance Company
	CRC
	(13,636,000)
	(13,528,507)
	 NA 
	CRC035242AL0

	197677AH0
	HCA INC
	Hartford Life Insurance Company
	CRC
	(819,000)
	(800,573)
	 NA 
	CRC197677AH0

	698299BE3
	PANAMA (REPUBLIC OF)
	Hartford Life Insurance Company
	CRC
	(2,400,000)
	(2,358,000)
	 NA 
	CRC698299BE3

	706451BG5
	PETROLEOS MEXICANOS
	Hartford Life Insurance Company
	CRC
	(1,205,000)
	(1,201,988)
	 NA 
	CRC706451BG5

	912828U40
	TREASURY NOTE (OLD)
	Hartford Life Insurance Company
	CRC
	(6,310,000)
	(6,275,245)
	 NA 
	CRC912828U40

	61749HAA8
	MSAC_06-HE3     A1
	Hartford Life Insurance Company
	CRC
	(515,016)
	(512,171)
	 NA 
	CRC61749HAA8

	69351UAP8
	PPL ELECTRIC UTILITIES CORPORATION
	Hartford Life Insurance Company
	CRC
	(10,000,000)
	(9,970,070)
	 NA 
	CRC69351UAP8

	912828T42
	TREASURY NOTE
	Hartford Life Insurance Company
	CRC
	(2,220,000)
	(2,210,720)
	 NA 
	CRC912828T42

	25470XAE5
	DISH DBS CORP
	Hartford Life Insurance Company
	CRC
	(1,719,000)
	(1,716,851)
	 NA 
	CRC25470XAE5

	35671DBH7
	FREEPORT-MCMORAN INC
	Hartford Life Insurance Company
	CRC
	(2,663,000)
	(2,639,699)
	 NA 
	CRC35671DBH7

	382550BE0
	GOODYEAR TIRE & RUBBER COMPANY (TH
	Hartford Life Insurance Company
	CRC
	(573,000)
	(566,554)
	 NA 
	CRC382550BE0

	34530QAG5
	FORDO_15-A       C
	Hartford Life Insurance Company
	CRC
	(15,400,000)
	(15,311,798)
	 NA 
	CRC34530QAG5

	32027NLA7
	FFML_04-FF7     M1
	Hartford Life Insurance Company
	CRC
	(1,423,872)
	(1,418,196)
	 NA 
	CRC32027NLA7

	85208NAA8
	SPRINT SPECTRUM CO I/ II /III/ LLC 144A
	Hartford Life Insurance Company
	CRC
	(1,114,000)
	(1,107,049)
	 NA 
	CRC85208NAA8

	12545RAA5
	CIC CENTRAL AMERICAN CARD RECEIVAB Prvt
	Hartford Life Insurance Company
	CRC
	(15,024,047)
	(14,972,501)
	 NA 
	CRC12545RAA5

	
								
	455780BK1
	INDONESIA (REPUBLIC OF)    144A
	Hartford Life Insurance Company
	CRC
	(2,200,000)
	(2,176,878)
	 NA 
	CRC455780BK1

	05565QCS5
	BP CAPITAL MARKETS PLC
	Hartford Life Insurance Company
	CRC
	(20,090,000)
	(20,029,248)
	 NA 
	CRC05565QCS5

	912828S68
	TREASURY NOTE
	Hartford Life Insurance Company
	CRC
	(3,330,000)
	(3,323,849)
	 NA 
	CRC912828S68

	BHM03Z7L4
	HTFD LIT VIII P   PN Prvt
	Hartford Life Insurance Company
	CRC
	(644,410)
	(643,769)
	 NA 
	CRCBHM03Z7L4

	92922F4R6
	WAMU_05-AR13  A1B2
	Hartford Life Insurance Company
	CRC
	(476,827)
	(476,154)
	 NA 
	CRC92922F4R6

	22534MAA8
	CAALT_16-2       A 144A
	Hartford Life Insurance Company
	CRC
	(3,650,000)
	(3,644,149)
	 NA 
	CRC22534MAA8

	912828R93
	TREASURY NOTE
	Hartford Life Insurance Company
	CRC
	(790,000)
	(789,226)
	 NA 
	CRC912828R93

	04541GTM4
	ABSHE_05-HE6    M3
	Hartford Life Insurance Company
	CRC
	(1,348,565)
	(1,346,176)
	 NA 
	CRC04541GTM4

	03064VAE8
	AMCAR_14-2       C
	Hartford Life Insurance Company
	CRC
	(2,060,000)
	(2,058,618)
	 NA 
	CRC03064VAE8

	34530KAE3
	FORDO_14-B       C
	Hartford Life Insurance Company
	CRC
	(2,000,000)
	(1,998,433)
	 NA 
	CRC34530KAE3

	15136PAE9
	CECLO_13-17A   A2B 144A
	Hartford Life Insurance Company
	CRC
	(3,400,000)
	(3,400,000)
	 NA 
	CRC15136PAE9

	843646AK6
	SOUTHERN POWER COMPANY
	Hartford Life Insurance Company
	CRC
	(6,327,000)
	(6,326,842)
	 NA 
	CRC843646AK6

	805564RM5
	SAST_05-1       M1
	Hartford Life Insurance Company
	CRC
	(963,444)
	(962,501)
	 NA 
	CRC805564RM5

	69352PAG8
	PPL CAPITAL FUNDING INC
	Hartford Life Insurance Company
	CRC
	(5,000,000)
	(4,999,935)
	 NA 
	CRC69352PAG8

	12590YAA4
	CPS_16-B         A 144A
	Hartford Life Insurance Company
	CRC
	(2,368,310)
	(2,367,710)
	 NA 
	CRC12590YAA4

	03062AAF3
	AMCAR_14-3       C
	Hartford Life Insurance Company
	CRC
	(2,000,000)
	(2,000,216)
	 NA 
	CRC03062AAF3

	17119XAF6
	CCART_14-AA      C 144A
	Hartford Life Insurance Company
	CRC
	(1,885,000)
	(1,885,000)
	 NA 
	CRC17119XAF6

	14313RAG8
	CARMX_14-2       D
	Hartford Life Insurance Company
	CRC
	(4,670,000)
	(4,669,550)
	 NA 
	CRC14313RAG8

	166754AK7
	CHEVRON PHILLIPS CHEMICAL CO LLC 144A
	Hartford Life Insurance Company
	CRC
	(27,300,000)
	(27,300,000)
	 NA 
	CRC166754AK7

	22533WAE9
	CAALT_15-1A      C 144A
	Hartford Life Insurance Company
	CRC
	(2,250,000)
	(2,250,000)
	 NA 
	CRC22533WAE9

	268789AA2
	E.ON INTERNATIONAL FINANCE B.V. 144A
	Hartford Life Insurance Company
	CRC
	(11,427,000)
	(11,427,000)
	 NA 
	CRC268789AA2

	31391UC52
	Freddie /Fannie Agency MBS
	Hartford Life Insurance Company
	CRC
	(20,740)
	(20,740)
	 NA 
	CRC31391UC52

	31400SZ93
	Freddie /Fannie Agency MBS
	Hartford Life Insurance Company
	CRC
	(40,687)
	(40,687)
	 NA 
	CRC31400SZ93

	60855RAG5
	MOLINA HEALTHCARE INC
	Hartford Life Insurance Company
	CRC
	(213,000)
	(213,000)
	 NA 
	CRC60855RAG5

	92930RAE2
	WFRBS_12-C9      C
	Hartford Life Insurance Company
	CRC
	(7,819,000)
	(7,830,098)
	 NA 
	CRC92930RAE2

	64352VMU2
	NCHET_05-4      M1
	Hartford Life Insurance Company
	CRC
	(4,660,101)
	(4,660,101)
	 NA 
	CRC64352VMU2

	81375WJF4
	SABR_06-OP1     M1
	Hartford Life Insurance Company
	CRC
	(1,527,110)
	(1,527,362)
	 NA 
	CRC81375WJF4

	
								
	33843MAA1
	FCAT_16-1        A 144A
	Hartford Life Insurance Company
	CRC
	(1,240,182)
	(1,240,757)
	 NA 
	CRC33843MAA1

	00084DAG5
	ABN AMRO BANK NV  144A
	Hartford Life Insurance Company
	CRC
	(5,425,000)
	(5,424,311)
	 NA 
	CRC00084DAG5

	80283NAG4
	SDART_14-1       D
	Hartford Life Insurance Company
	CRC
	(4,190,000)
	(4,191,408)
	 NA 
	CRC80283NAG4

	31394AGS9
	FNMA_04-54      FL
	Hartford Life Insurance Company
	CRC
	(394,511)
	(395,138)
	 NA 
	CRC31394AGS9

	126670EK0
	CWL_05-12       M1
	Hartford Life Insurance Company
	CRC
	(1,395,088)
	(1,396,293)
	 NA 
	CRC126670EK0

	61748HKZ3
	MSM_05-5AR     1A4
	Hartford Life Insurance Company
	CRC
	(1,631,293)
	(1,633,884)
	 NA 
	CRC61748HKZ3

	33843NAC5
	FCAT_16-2       A2 144A
	Hartford Life Insurance Company
	CRC
	(130,222)
	(130,438)
	 NA 
	CRC33843NAC5

	3138E0Q93
	Freddie /Fannie Agency MBS
	Hartford Life Insurance Company
	CRC
	(2,546)
	(2,545)
	 NA 
	CRC3138E0Q93

	BHM0M48Q0
	HTFD FAIRWAY GL   PN Prvt
	Hartford Life Insurance Company
	CRC
	(240,425)
	(241,064)
	 NA 
	CRCBHM0M48Q0

	3138EHP30
	Freddie /Fannie Agency MBS
	Hartford Life Insurance Company
	CRC
	(39,987)
	(39,985)
	 NA 
	CRC3138EHP30

	06051GFH7
	BANK OF AMERICA CORP MTN
	Hartford Life Insurance Company
	CRC
	(6,805,000)
	(6,852,621)
	 NA 
	CRC06051GFH7

	96042CAL5
	WLAKE_15-2A      D 144A
	Hartford Life Insurance Company
	CRC
	(292,937)
	(293,425)
	 NA 
	CRC96042CAL5

	87243BAB5
	BOARDWALK PIPELINES LP
	Hartford Life Insurance Company
	CRC
	(5,000,000)
	(5,000,295)
	 NA 
	CRC87243BAB5

	32027NRD5
	FFML_05-FF4     M2
	Hartford Life Insurance Company
	CRC
	(1,227,582)
	(1,230,213)
	 NA 
	CRC32027NRD5

	29445FBH0
	EMLT_04-2       M1
	Hartford Life Insurance Company
	CRC
	(1,516,482)
	(1,520,343)
	 NA 
	CRC29445FBH0

	36179RBX6
	Ginnie Agency MBS
	Hartford Life Insurance Company
	CRC
	(81,024)
	(81,342)
	 NA 
	CRC36179RBX6

	004421MF7
	ACE_05-HE2      M4
	Hartford Life Insurance Company
	CRC
	(669,798)
	(671,755)
	 NA 
	CRC004421MF7

	61746BDJ2
	MORGAN STANLEY
	Hartford Life Insurance Company
	CRC
	(23,560,000)
	(23,681,287)
	 NA 
	CRC61746BDJ2

	125581GS1
	CIT GROUP INC
	Hartford Life Insurance Company
	CRC
	(2,090,000)
	(2,092,613)
	 NA 
	CRC125581GS1

	78442FEH7
	SLM CORP MTN
	Hartford Life Insurance Company
	CRC
	(1,359,000)
	(1,370,348)
	 NA 
	CRC78442FEH7

	31396XAL8
	FNMA_07-81      AF
	Hartford Life Insurance Company
	CRC
	(432,161)
	(434,364)
	 NA 
	CRC31396XAL8

	03072SRX5
	AMSI_04-R5      M1
	Hartford Life Insurance Company
	CRC
	(106,507)
	(107,051)
	 NA 
	CRC03072SRX5

	03072STZ8
	AMSI_04-R8      M1
	Hartford Life Insurance Company
	CRC
	(1,157,349)
	(1,163,292)
	 NA 
	CRC03072STZ8

	BHM0LDDB0
	HTFD 11850 RIVE   PN Prvt
	Hartford Life Insurance Company
	CRC
	(481,138)
	(483,597)
	 NA 
	CRCBHM0LDDB0

	59748TAA7
	MIDLAND COGENERATION VENTURE LP 144A
	Hartford Life Insurance Company
	CRC
	(762,965)
	(770,056)
	 NA 
	CRC59748TAA7

	83162CVV2
	SBAP_13-20J      1
	Hartford Life Insurance Company
	CRC
	(333,004)
	(335,398)
	 NA 
	CRC83162CVV2

	02005NAR1
	ALLY FINANCIAL INC
	Hartford Life Insurance Company
	CRC
	(1,495,000)
	(1,500,233)
	 NA 
	CRC02005NAR1

	
								
	404121AF2
	HCA INC
	Hartford Life Insurance Company
	CRC
	(588,000)
	(589,470)
	 NA 
	CRC404121AF2

	21987DAD6
	CORPORACION FINANCIERA DE DESARROL 144A
	Hartford Life Insurance Company
	CRC
	(1,000,000)
	(997,500)
	 NA 
	CRC21987DAD6

	466112AF6
	JBS USA LLC/JBS USA FINANCE INC 144A
	Hartford Life Insurance Company
	CRC
	(1,251,000)
	(1,263,885)
	 NA 
	CRC466112AF6

	760942BB7
	REPUBLICA ORIENT URUGUAY
	Hartford Life Insurance Company
	CRC
	(1,210,000)
	(1,234,200)
	 NA 
	CRC760942BB7

	BHM0KTYD7
	HTFD HARVARD PL   PN Prvt
	Hartford Life Insurance Company
	CRC
	(595,676)
	(600,811)
	 NA 
	CRCBHM0KTYD7

	83162CTR4
	SBAP_10-20K      1
	Hartford Life Insurance Company
	CRC
	(1,625,398)
	(1,641,525)
	 NA 
	CRC83162CTR4

	BHM0KTYC9
	HTFD CORONA DEL   PN Prvt
	Hartford Life Insurance Company
	CRC
	(595,676)
	(601,174)
	 NA 
	CRCBHM0KTYC9

	313614XS3
	Freddie /Fannie Agency MBS
	Hartford Life Insurance Company
	CRC
	(1,416)
	(1,429)
	 NA 
	CRC313614XS3

	83162CUE1
	SBAP_11-20H      1
	Hartford Life Insurance Company
	CRC
	(1,702,079)
	(1,721,299)
	 NA 
	CRC83162CUE1

	345397WF6
	FORD MOTOR CREDIT CO LLC
	Hartford Life Insurance Company
	CRC
	(2,200,000)
	(2,224,774)
	 NA 
	CRC345397WF6

	BHM0L66Z8
	HTFD GRI-REGENC   PN Prvt
	Hartford Life Insurance Company
	CRC
	(341,455)
	(345,488)
	 NA 
	CRCBHM0L66Z8

	47010BAA2
	JAGUAR LAND ROVER PLC      144A
	Hartford Life Insurance Company
	CRC
	(1,206,000)
	(1,224,090)
	 NA 
	CRC47010BAA2

	25466AAD3
	DISCOVER BANK
	Hartford Life Insurance Company
	CRC
	(14,345,000)
	(14,528,544)
	 NA 
	CRC25466AAD3

	12527DAF7
	CFCRE_11-C2      D 144A
	Hartford Life Insurance Company
	CRC
	(5,000,000)
	(5,071,361)
	 NA 
	CRC12527DAF7

	55342UAE4
	MPT OPERATING PARTNERSHIP LP / MPT
	Hartford Life Insurance Company
	CRC
	(991,000)
	(995,955)
	 NA 
	CRC55342UAE4

	36223E7F5
	Ginnie Agency MBS
	Hartford Life Insurance Company
	CRC
	(3,163)
	(3,206)
	 NA 
	CRC36223E7F5

	BHM0L6753
	HTFD GRI-REGENC   PN Prvt
	Hartford Life Insurance Company
	CRC
	(254,736)
	(258,282)
	 NA 
	CRCBHM0L6753

	3137G0AX7
	STACR_14-DN2    M2
	Hartford Life Insurance Company
	CRC
	(1,438,892)
	(1,458,875)
	 NA 
	CRC3137G0AX7

	552081AG6
	LYONDELLBASELL INDUSTRIES NV
	Hartford Life Insurance Company
	CRC
	(3,833,000)
	(3,881,990)
	 NA 
	CRC552081AG6

	94973BAA9
	WELLS ENTERPRISES INC      144A
	Hartford Life Insurance Company
	CRC
	(1,300,000)
	(1,321,970)
	 NA 
	CRC94973BAA9

	313401U25
	Freddie /Fannie Agency MBS
	Hartford Life Insurance Company
	CRC
	(5,187)
	(5,249)
	 NA 
	CRC313401U25

	775109AK7
	ROGERS COMMUNICATIONS INC.
	Hartford Life Insurance Company
	CRC
	(4,130,000)
	(4,193,640)
	 NA 
	CRC775109AK7

	542514JL9
	LBMLT_04-6      A3
	Hartford Life Insurance Company
	CRC
	(821,401)
	(834,571)
	 NA 
	CRC542514JL9

	212015AH4
	CONTINENTAL RESOURCES INC
	Hartford Life Insurance Company
	CRC
	(368,000)
	(374,489)
	 NA 
	CRC212015AH4

	31397U3N7
	FNA_11-M2       A3
	Hartford Life Insurance Company
	CRC
	(740,222)
	(754,262)
	 NA 
	CRC31397U3N7

	BHM0JB0A1
	HTFD AMB INDUST   PN Prvt
	Hartford Life Insurance Company
	CRC
	(733,653)
	(747,880)
	 NA 
	CRCBHM0JB0A1

	21036PAL2
	CONSTELLATION BRANDS INC
	Hartford Life Insurance Company
	CRC
	(3,172,000)
	(3,248,607)
	 NA 
	CRC21036PAL2

	
								
	89837LAA3
	PRINCETON UNIVERSITY
	Hartford Life Insurance Company
	CRC
	(5,629,000)
	(5,733,688)
	 NA 
	CRC89837LAA3

	031162AZ3
	AMGEN INC.
	Hartford Life Insurance Company
	CRC
	(8,600,000)
	(8,775,027)
	 NA 
	CRC031162AZ3

	36201GTM7
	Ginnie Agency MBS
	Hartford Life Insurance Company
	CRC
	(684)
	(699)
	 NA 
	CRC36201GTM7

	3138XQX63
	Freddie /Fannie Agency MBS
	Hartford Life Insurance Company
	CRC
	(216,938)
	(221,814)
	 NA 
	CRC3138XQX63

	125581GQ5
	CIT GROUP INC
	Hartford Life Insurance Company
	CRC
	(676,000)
	(687,411)
	 NA 
	CRC125581GQ5

	BHM1DDGR7
	CORPORACION NACIONAL DEL COBRE DE RegS
	Hartford Life Insurance Company
	CRC
	(1,600,000)
	(1,626,560)
	 NA 
	CRCBHM1DDGR7

	06053FAA7
	BANK OF AMERICA CORP
	Hartford Life Insurance Company
	CRC
	(15,000,000)
	(15,334,065)
	 NA 
	CRC06053FAA7

	BHM0JEJL1
	HTFD REGENCY PO   PN Prvt
	Hartford Life Insurance Company
	CRC
	(238,304)
	(243,803)
	 NA 
	CRCBHM0JEJL1

	31390BFK9
	Freddie /Fannie Agency MBS
	Hartford Life Insurance Company
	CRC
	(1,036)
	(1,036)
	 NA 
	CRC31390BFK9

	69369EAC3
	PERTAMINA PERSERO PT       144A
	Hartford Life Insurance Company
	CRC
	(970,000)
	(991,910)
	 NA 
	CRC69369EAC3

	3132JN4V6
	Freddie /Fannie Agency MBS
	Hartford Life Insurance Company
	CRC
	(301,894)
	(309,452)
	 NA 
	CRC3132JN4V6

	BHM0JEJN7
	HTFD REGENCY PO   PN Prvt
	Hartford Life Insurance Company
	CRC
	(235,596)
	(241,418)
	 NA 
	CRCBHM0JEJN7

	55336VAE0
	MPLX LP
	Hartford Life Insurance Company
	CRC
	(5,625,000)
	(5,783,248)
	 NA 
	CRC55336VAE0

	629377BW1
	NRG ENERGY INC
	Hartford Life Insurance Company
	CRC
	(1,344,000)
	(1,384,320)
	 NA 
	CRC629377BW1

	83162CUA9
	SBAP_11-20E      1
	Hartford Life Insurance Company
	CRC
	(1,166,513)
	(1,198,240)
	 NA 
	CRC83162CUA9

	31371LPS2
	Freddie /Fannie Agency MBS
	Hartford Life Insurance Company
	CRC
	(838)
	(860)
	 NA 
	CRC31371LPS2

	31405CUV9
	Freddie /Fannie Agency MBS
	Hartford Life Insurance Company
	CRC
	(1,172)
	(1,203)
	 NA 
	CRC31405CUV9

	31418P6N0
	Freddie /Fannie Agency MBS
	Hartford Life Insurance Company
	CRC
	(1,725)
	(1,770)
	 NA 
	CRC31418P6N0

	3138XFC45
	Freddie /Fannie Agency MBS
	Hartford Life Insurance Company
	CRC
	(48,691)
	(50,026)
	 NA 
	CRC3138XFC45

	3138X1UK0
	Freddie /Fannie Agency MBS
	Hartford Life Insurance Company
	CRC
	(288,321)
	(296,229)
	 NA 
	CRC3138X1UK0

	82967NAS7
	SIRIUS XM RADIO INC        144A
	Hartford Life Insurance Company
	CRC
	(1,012,000)
	(1,033,505)
	 NA 
	CRC82967NAS7

	3138AVP74
	Freddie /Fannie Agency MBS
	Hartford Life Insurance Company
	CRC
	(93,279)
	(95,895)
	 NA 
	CRC3138AVP74

	3132JNML8
	Freddie /Fannie Agency MBS
	Hartford Life Insurance Company
	CRC
	(1,264,894)
	(1,300,412)
	 NA 
	CRC3132JNML8

	3137G0HF9
	STACR_15-HQA2   M2
	Hartford Life Insurance Company
	CRC
	(3,750,000)
	(3,858,606)
	 NA 
	CRC3137G0HF9

	3128M9UZ3
	Freddie /Fannie Agency MBS
	Hartford Life Insurance Company
	CRC
	(1,005,489)
	(1,033,721)
	 NA 
	CRC3128M9UZ3

	3132JNRG4
	Freddie /Fannie Agency MBS
	Hartford Life Insurance Company
	CRC
	(395,082)
	(406,176)
	 NA 
	CRC3132JNRG4

	3132JNX44
	Freddie /Fannie Agency MBS
	Hartford Life Insurance Company
	CRC
	(696,177)
	(715,726)
	 NA 
	CRC3132JNX44

	
								
	3132JPF49
	Freddie /Fannie Agency MBS
	Hartford Life Insurance Company
	CRC
	(116,938)
	(120,221)
	 NA 
	CRC3132JPF49

	3132JPSP8
	Freddie /Fannie Agency MBS
	Hartford Life Insurance Company
	CRC
	(443,547)
	(456,001)
	 NA 
	CRC3132JPSP8

	3137G0AL3
	STACR_14-DN1    M2
	Hartford Life Insurance Company
	CRC
	(502,825)
	(517,785)
	 NA 
	CRC3137G0AL3

	444454AB8
	HUGHES SATELLITE SYSTEMS CORP
	Hartford Life Insurance Company
	CRC
	(1,344,000)
	(1,385,328)
	 NA 
	CRC444454AB8

	483007AH3
	KAISER ALUMINUM CORPORATION
	Hartford Life Insurance Company
	CRC
	(1,093,000)
	(1,123,058)
	 NA 
	CRC483007AH3

	BHM0JEJP2
	HTFD REGENCY PO   PN Prvt
	Hartford Life Insurance Company
	CRC
	(298,615)
	(308,442)
	 NA 
	CRCBHM0JEJP2

	36201ENY2
	Ginnie Agency MBS
	Hartford Life Insurance Company
	CRC
	(68,766)
	(70,953)
	 NA 
	CRC36201ENY2

	87243QAB2
	TENET HEALTHCARE CORPORATION
	Hartford Life Insurance Company
	CRC
	(2,103,000)
	(2,170,738)
	 NA 
	CRC87243QAB2

	853496AB3
	STANDARD INDUSTRIES INC    144A
	Hartford Life Insurance Company
	CRC
	(296,000)
	(301,180)
	 NA 
	CRC853496AB3

	31412VJV1
	Freddie /Fannie Agency MBS
	Hartford Life Insurance Company
	CRC
	(422,238)
	(434,484)
	 NA 
	CRC31412VJV1

	12527EAD0
	CFCRE_11-C1     A4 144A
	Hartford Life Insurance Company
	CRC
	(297,059)
	(306,904)
	 NA 
	CRC12527EAD0

	87264AAL9
	T-MOBILE USA INC
	Hartford Life Insurance Company
	CRC
	(5,676,000)
	(5,864,046)
	 NA 
	CRC87264AAL9

	BHM0JEHH2
	HTFD REGENCY PO   PN Prvt
	Hartford Life Insurance Company
	CRC
	(699,458)
	(723,384)
	 NA 
	CRCBHM0JEHH2

	BHM0V0A77
	TEEKAY SHUTTLE TANKER FINANCE LLC Prvt
	Hartford Life Insurance Company
	CRC
	(11,517,823)
	(11,908,081)
	 NA 
	CRCBHM0V0A77

	36202FKM7
	Ginnie Agency MBS
	Hartford Life Insurance Company
	CRC
	(1,826,475)
	(1,887,282)
	 NA 
	CRC36202FKM7

	83162CTB9
	SBAP_10-20B      1
	Hartford Life Insurance Company
	CRC
	(1,035,681)
	(1,072,033)
	 NA 
	CRC83162CTB9

	718546AC8
	PHILLIPS 66
	Hartford Life Insurance Company
	CRC
	(8,995,000)
	(9,300,272)
	 NA 
	CRC718546AC8

	83162CTD5
	SBAP_10-20C      1
	Hartford Life Insurance Company
	CRC
	(2,399,512)
	(2,486,835)
	 NA 
	CRC83162CTD5

	71656LBQ3
	PETROLEOS MEXICANOS        144A
	Hartford Life Insurance Company
	CRC
	(1,750,000)
	(1,809,481)
	 NA 
	CRC71656LBQ3

	31418TXF9
	Freddie /Fannie Agency MBS
	Hartford Life Insurance Company
	CRC
	(2,188)
	(2,265)
	 NA 
	CRC31418TXF9

	83162CTE3
	SBAP_10-20D      1
	Hartford Life Insurance Company
	CRC
	(845,344)
	(877,721)
	 NA 
	CRC83162CTE3

	3137G0GT0
	STACR_15-DNA3   M2
	Hartford Life Insurance Company
	CRC
	(1,585,977)
	(1,645,099)
	 NA 
	CRC3137G0GT0

	31419ABG1
	Freddie /Fannie Agency MBS
	Hartford Life Insurance Company
	CRC
	(592,003)
	(609,282)
	 NA 
	CRC31419ABG1

	31418U2M5
	Freddie /Fannie Agency MBS
	Hartford Life Insurance Company
	CRC
	(22,090)
	(22,906)
	 NA 
	CRC31418U2M5

	31419AHL4
	Freddie /Fannie Agency MBS
	Hartford Life Insurance Company
	CRC
	(20,845)
	(21,617)
	 NA 
	CRC31419AHL4

	BHM03TLB4
	HTFD AMB PORTFO   PN Prvt
	Hartford Life Insurance Company
	CRC
	(798,103)
	(828,219)
	 NA 
	CRCBHM03TLB4

	63938CAD0
	NAVIENT CORP
	Hartford Life Insurance Company
	CRC
	(322,000)
	(334,478)
	 NA 
	CRC63938CAD0

	
								
	228227BE3
	CROWN CASTLE INTERNATIONAL CORP
	Hartford Life Insurance Company
	CRC
	(10,300,000)
	(10,698,723)
	 NA 
	CRC228227BE3

	BHM0J5AM7
	HTFD 840 FIRST    PN Prvt
	Hartford Life Insurance Company
	CRC
	(427,984)
	(445,185)
	 NA 
	CRCBHM0J5AM7

	496902AN7
	KINROSS GOLD CORP
	Hartford Life Insurance Company
	CRC
	(318,000)
	(329,130)
	 NA 
	CRC496902AN7

	31412MLD8
	Freddie /Fannie Agency MBS
	Hartford Life Insurance Company
	CRC
	(116,635)
	(120,630)
	 NA 
	CRC31412MLD8

	3128MCET8
	Freddie /Fannie Agency MBS
	Hartford Life Insurance Company
	CRC
	(34,422)
	(35,919)
	 NA 
	CRC3128MCET8

	881609BB6
	TESORO CORP       144A
	Hartford Life Insurance Company
	CRC
	(1,783,000)
	(1,858,660)
	 NA 
	CRC881609BB6

	55354GAB6
	MSCI INC          144A
	Hartford Life Insurance Company
	CRC
	(570,000)
	(585,675)
	 NA 
	CRC55354GAB6

	02666BAD8
	AH4R_15-SFR2     D 144A
	Hartford Life Insurance Company
	CRC
	(2,000,000)
	(2,097,568)
	 NA 
	CRC02666BAD8

	404121AC9
	HCA INC
	Hartford Life Insurance Company
	CRC
	(1,350,000)
	(1,412,438)
	 NA 
	CRC404121AC9

	BHM0NVNU3
	WAKALA GLOBAL SUKUK BHD    RegS
	Hartford Life Insurance Company
	CRC
	(1,440,000)
	(1,500,034)
	 NA 
	CRCBHM0NVNU3

	013817AQ4
	ARCONIC INC
	Hartford Life Insurance Company
	CRC
	(1,663,000)
	(1,731,599)
	 NA 
	CRC013817AQ4

	36202FEH5
	Ginnie Agency MBS
	Hartford Life Insurance Company
	CRC
	(309,315)
	(324,928)
	 NA 
	CRC36202FEH5

	36202FGW0
	Ginnie Agency MBS
	Hartford Life Insurance Company
	CRC
	(4,426,344)
	(4,650,091)
	 NA 
	CRC36202FGW0

	36202FLP9
	Ginnie Agency MBS
	Hartford Life Insurance Company
	CRC
	(34,003)
	(35,725)
	 NA 
	CRC36202FLP9

	910047AG4
	UNITED CONTINENTAL HOLDINGS INC
	Hartford Life Insurance Company
	CRC
	(168,000)
	(174,738)
	 NA 
	CRC910047AG4

	36202FCN4
	Ginnie Agency MBS
	Hartford Life Insurance Company
	CRC
	(1,954,564)
	(2,054,353)
	 NA 
	CRC36202FCN4

	445545AD8
	HUNGARY (REPUBLIC OF)
	Hartford Life Insurance Company
	CRC
	(1,192,000)
	(1,247,428)
	 NA 
	CRC445545AD8

	651290AP3
	NEWFIELD EXPLORATION COMPANY
	Hartford Life Insurance Company
	CRC
	(1,722,000)
	(1,799,490)
	 NA 
	CRC651290AP3

	31293EFM7
	Freddie /Fannie Agency MBS
	Hartford Life Insurance Company
	CRC
	(23,633)
	(24,829)
	 NA 
	CRC31293EFM7

	228227BD5
	CROWN CASTLE INTERNATIONAL CORP
	Hartford Life Insurance Company
	CRC
	(8,183,000)
	(8,621,404)
	 NA 
	CRC228227BD5

	219868BN5
	CORPORACION ANDINA DE FOMENTO
	Hartford Life Insurance Company
	CRC
	(3,340,000)
	(3,512,544)
	 NA 
	CRC219868BN5

	36201BBR6
	Ginnie Agency MBS
	Hartford Life Insurance Company
	CRC
	(1,850)
	(1,953)
	 NA 
	CRC36201BBR6

	31297BAK8
	Freddie /Fannie Agency MBS
	Hartford Life Insurance Company
	CRC
	(2,948)
	(3,118)
	 NA 
	CRC31297BAK8

	88160QAM5
	TESORO LOGISTICS LP
	Hartford Life Insurance Company
	CRC
	(157,000)
	(167,717)
	 NA 
	CRC88160QAM5

	BHM1CVL68
	KAZAKHSTAN (REPUBLIC OF) MTN RegS
	Hartford Life Insurance Company
	CRC
	(1,000,000)
	(1,065,100)
	 NA 
	CRCBHM1CVL68

	445545AH9
	HUNGARY (REPUBLIC OF)
	Hartford Life Insurance Company
	CRC
	(2,100,000)
	(2,235,072)
	 NA 
	CRC445545AH9

	3620A9SH5
	Ginnie Agency MBS
	Hartford Life Insurance Company
	CRC
	(588,834)
	(629,433)
	 NA 
	CRC3620A9SH5

	
								
	444454AA0
	HUGHES SATELLITE SYSTEMS CORP
	Hartford Life Insurance Company
	CRC
	(1,150,000)
	(1,226,763)
	 NA 
	CRC444454AA0

	31400JPF0
	Freddie /Fannie Agency MBS
	Hartford Life Insurance Company
	CRC
	(1,405)
	(1,498)
	 NA 
	CRC31400JPF0

	BHM0K0385
	CROATIA REPUBLIC OF (GOVERNMENT) RegS
	Hartford Life Insurance Company
	CRC
	(1,060,000)
	(1,124,997)
	 NA 
	CRCBHM0K0385

	31408AAK6
	Freddie /Fannie Agency MBS
	Hartford Life Insurance Company
	CRC
	(494)
	(529)
	 NA 
	CRC31408AAK6

	31402KCE2
	Freddie /Fannie Agency MBS
	Hartford Life Insurance Company
	CRC
	(1,286)
	(1,378)
	 NA 
	CRC31402KCE2

	31416BVH8
	Freddie /Fannie Agency MBS
	Hartford Life Insurance Company
	CRC
	(6,839)
	(7,327)
	 NA 
	CRC31416BVH8

	31402EAQ1
	Freddie /Fannie Agency MBS
	Hartford Life Insurance Company
	CRC
	(2,928)
	(3,137)
	 NA 
	CRC31402EAQ1

	31400JSJ9
	Freddie /Fannie Agency MBS
	Hartford Life Insurance Company
	CRC
	(1,206)
	(1,292)
	 NA 
	CRC31400JSJ9

	36202FB47
	Ginnie Agency MBS
	Hartford Life Insurance Company
	CRC
	(148,387)
	(159,492)
	 NA 
	CRC36202FB47

	595112BG7
	MICRON TECHNOLOGY INC      144A
	Hartford Life Insurance Company
	CRC
	(1,144,000)
	(1,228,713)
	 NA 
	CRC595112BG7

	530715AJ0
	LIBERTY INTERACTIVE LLC
	Hartford Life Insurance Company
	CRC
	(1,027,000)
	(1,093,118)
	 NA 
	CRC530715AJ0

	40429CGD8
	HSBC FINANCE CORP
	Hartford Life Insurance Company
	CRC
	(2,990,000)
	(3,209,481)
	 NA 
	CRC40429CGD8

	BHM0JZ7U7
	LITHUANIA REPUBLIC OF (GOVERNMENT RegS
	Hartford Life Insurance Company
	CRC
	(1,610,000)
	(1,721,090)
	 NA 
	CRCBHM0JZ7U7

	03938LAX2
	ARCELORMITTAL SA
	Hartford Life Insurance Company
	CRC
	(2,394,000)
	(2,561,580)
	 NA 
	CRC03938LAX2

	445545AE6
	HUNGARY (REPUBLIC OF)
	Hartford Life Insurance Company
	CRC
	(1,720,000)
	(1,844,425)
	 NA 
	CRC445545AE6

	36213EYA8
	Ginnie Agency MBS
	Hartford Life Insurance Company
	CRC
	(19,376)
	(20,903)
	 NA 
	CRC36213EYA8

	31296NKW6
	Freddie /Fannie Agency MBS
	Hartford Life Insurance Company
	CRC
	(95,127)
	(102,030)
	 NA 
	CRC31296NKW6

	31296NGG6
	Freddie /Fannie Agency MBS
	Hartford Life Insurance Company
	CRC
	(1,007,441)
	(1,084,199)
	 NA 
	CRC31296NGG6

	31405STM6
	Freddie /Fannie Agency MBS
	Hartford Life Insurance Company
	CRC
	(14,579)
	(15,656)
	 NA 
	CRC31405STM6

	31407DWC5
	Freddie /Fannie Agency MBS
	Hartford Life Insurance Company
	CRC
	(1,490)
	(1,600)
	 NA 
	CRC31407DWC5

	31407KTV1
	Freddie /Fannie Agency MBS
	Hartford Life Insurance Company
	CRC
	(8,154)
	(8,760)
	 NA 
	CRC31407KTV1

	31415WCV3
	Freddie /Fannie Agency MBS
	Hartford Life Insurance Company
	CRC
	(2,815)
	(3,025)
	 NA 
	CRC31415WCV3

	31408XRK8
	Freddie /Fannie Agency MBS
	Hartford Life Insurance Company
	CRC
	(3,479)
	(3,738)
	 NA 
	CRC31408XRK8

	31401MBK6
	Freddie /Fannie Agency MBS
	Hartford Life Insurance Company
	CRC
	(237,533)
	(255,310)
	 NA 
	CRC31401MBK6

	31297AQZ0
	Freddie /Fannie Agency MBS
	Hartford Life Insurance Company
	CRC
	(44,326)
	(47,576)
	 NA 
	CRC31297AQZ0

	31407TRG7
	Freddie /Fannie Agency MBS
	Hartford Life Insurance Company
	CRC
	(9,614)
	(10,391)
	 NA 
	CRC31407TRG7

	31408YMG0
	Freddie /Fannie Agency MBS
	Hartford Life Insurance Company
	CRC
	(10,376)
	(11,204)
	 NA 
	CRC31408YMG0

	
								
	31297A6E9
	Freddie /Fannie Agency MBS
	Hartford Life Insurance Company
	CRC
	(29,059)
	(31,382)
	 NA 
	CRC31297A6E9

	31402VYD6
	Freddie /Fannie Agency MBS
	Hartford Life Insurance Company
	CRC
	(58,633)
	(63,449)
	 NA 
	CRC31402VYD6

	31407VVA0
	Freddie /Fannie Agency MBS
	Hartford Life Insurance Company
	CRC
	(13,790)
	(14,967)
	 NA 
	CRC31407VVA0

	36213GAL5
	Ginnie Agency MBS
	Hartford Life Insurance Company
	CRC
	(2,804)
	(3,060)
	 NA 
	CRC36213GAL5

	31408XQF0
	Freddie /Fannie Agency MBS
	Hartford Life Insurance Company
	CRC
	(11,212)
	(12,140)
	 NA 
	CRC31408XQF0

	31409C3W3
	Freddie /Fannie Agency MBS
	Hartford Life Insurance Company
	CRC
	(8,573)
	(9,300)
	 NA 
	CRC31409C3W3

	31407RVY7
	Freddie /Fannie Agency MBS
	Hartford Life Insurance Company
	CRC
	(3,791)
	(4,113)
	 NA 
	CRC31407RVY7

	31405SFX7
	Freddie /Fannie Agency MBS
	Hartford Life Insurance Company
	CRC
	(1,705)
	(1,839)
	 NA 
	CRC31405SFX7

	65473QAV5
	NISOURCE FINANCE CORPORATION
	Hartford Life Insurance Company
	CRC
	(5,647,000)
	(6,163,813)
	 NA 
	CRC65473QAV5

	31407YES4
	Freddie /Fannie Agency MBS
	Hartford Life Insurance Company
	CRC
	(11,696)
	(12,696)
	 NA 
	CRC31407YES4

	31409FJQ2
	Freddie /Fannie Agency MBS
	Hartford Life Insurance Company
	CRC
	(4,388)
	(4,764)
	 NA 
	CRC31409FJQ2

	31407PW38
	Freddie /Fannie Agency MBS
	Hartford Life Insurance Company
	CRC
	(1,259)
	(1,367)
	 NA 
	CRC31407PW38

	31405VD38
	Freddie /Fannie Agency MBS
	Hartford Life Insurance Company
	CRC
	(193,656)
	(210,312)
	 NA 
	CRC31405VD38

	31407V3P8
	Freddie /Fannie Agency MBS
	Hartford Life Insurance Company
	CRC
	(1,088)
	(1,182)
	 NA 
	CRC31407V3P8

	31408CT97
	Freddie /Fannie Agency MBS
	Hartford Life Insurance Company
	CRC
	(2,678)
	(2,911)
	 NA 
	CRC31408CT97

	31407CKC0
	Freddie /Fannie Agency MBS
	Hartford Life Insurance Company
	CRC
	(6,998)
	(7,606)
	 NA 
	CRC31407CKC0

	31407LFY8
	Freddie /Fannie Agency MBS
	Hartford Life Insurance Company
	CRC
	(6,702)
	(7,285)
	 NA 
	CRC31407LFY8

	B0A0GB8L2
	LEGG MASON MTGE CAPITAL (WALGREEN) Prvt
	Hartford Life Insurance Company
	CRC
	(599,850)
	(656,241)
	 NA 
	CRCB0A0GB8L2

	31416CAR7
	Freddie /Fannie Agency MBS
	Hartford Life Insurance Company
	CRC
	(242,234)
	(263,785)
	 NA 
	CRC31416CAR7

	31391XQX0
	Freddie /Fannie Agency MBS
	Hartford Life Insurance Company
	CRC
	(91,582)
	(99,777)
	 NA 
	CRC31391XQX0

	31296XHJ7
	Freddie /Fannie Agency MBS
	Hartford Life Insurance Company
	CRC
	(37,284)
	(40,567)
	 NA 
	CRC31296XHJ7

	31402RUN7
	Freddie /Fannie Agency MBS
	Hartford Life Insurance Company
	CRC
	(324,575)
	(353,557)
	 NA 
	CRC31402RUN7

	31418MA28
	Freddie /Fannie Agency MBS
	Hartford Life Insurance Company
	CRC
	(207,927)
	(226,703)
	 NA 
	CRC31418MA28

	31403AZ57
	Freddie /Fannie Agency MBS
	Hartford Life Insurance Company
	CRC
	(342,900)
	(375,130)
	 NA 
	CRC31403AZ57

	31405VAT4
	Freddie /Fannie Agency MBS
	Hartford Life Insurance Company
	CRC
	(287,160)
	(313,897)
	 NA 
	CRC31405VAT4

	31403HYK0
	Freddie /Fannie Agency MBS
	Hartford Life Insurance Company
	CRC
	(203,398)
	(222,491)
	 NA 
	CRC31403HYK0

	31400JRY7
	Freddie /Fannie Agency MBS
	Hartford Life Insurance Company
	CRC
	(154,936)
	(169,679)
	 NA 
	CRC31400JRY7

	
								
	BHM0K4486
	MERRITT INDUSTR   PN Prvt
	Hartford Life Insurance Company
	CRC
	(7,718,592)
	(8,515,063)
	 NA 
	CRCBHM0K4486

	31296NLC9
	Freddie /Fannie Agency MBS
	Hartford Life Insurance Company
	CRC
	(274,297)
	(300,948)
	 NA 
	CRC31296NLC9

	31412NSL1
	Freddie /Fannie Agency MBS
	Hartford Life Insurance Company
	CRC
	(24,258)
	(26,710)
	 NA 
	CRC31412NSL1

	31418UZ64
	Freddie /Fannie Agency MBS
	Hartford Life Insurance Company
	CRC
	(116,221)
	(128,022)
	 NA 
	CRC31418UZ64

	552953BX8
	MGM RESORTS INTERNATIONAL
	Hartford Life Insurance Company
	CRC
	(671,000)
	(739,778)
	 NA 
	CRC552953BX8

	31410C2M3
	Freddie /Fannie Agency MBS
	Hartford Life Insurance Company
	CRC
	(150,339)
	(166,438)
	 NA 
	CRC31410C2M3

	31410XB88
	Freddie /Fannie Agency MBS
	Hartford Life Insurance Company
	CRC
	(163,668)
	(181,575)
	 NA 
	CRC31410XB88

	31368HK28
	Freddie /Fannie Agency MBS
	Hartford Life Insurance Company
	CRC
	(9,633)
	(10,734)
	 NA 
	CRC31368HK28

	31371FUG5
	Freddie /Fannie Agency MBS
	Hartford Life Insurance Company
	CRC
	(48)
	(54)
	 NA 
	CRC31371FUG5

	31371GMR8
	Freddie /Fannie Agency MBS
	Hartford Life Insurance Company
	CRC
	(10,442)
	(11,636)
	 NA 
	CRC31371GMR8

	31371HCR7
	Freddie /Fannie Agency MBS
	Hartford Life Insurance Company
	CRC
	(37)
	(41)
	 NA 
	CRC31371HCR7

	31371HX94
	Freddie /Fannie Agency MBS
	Hartford Life Insurance Company
	CRC
	(214)
	(239)
	 NA 
	CRC31371HX94

	31371KBS9
	Freddie /Fannie Agency MBS
	Hartford Life Insurance Company
	CRC
	(59)
	(66)
	 NA 
	CRC31371KBS9

	31371KN49
	Freddie /Fannie Agency MBS
	Hartford Life Insurance Company
	CRC
	(1,593)
	(1,775)
	 NA 
	CRC31371KN49

	31371KYS4
	Freddie /Fannie Agency MBS
	Hartford Life Insurance Company
	CRC
	(4,215)
	(4,697)
	 NA 
	CRC31371KYS4

	31371KZC8
	Freddie /Fannie Agency MBS
	Hartford Life Insurance Company
	CRC
	(15,575)
	(17,355)
	 NA 
	CRC31371KZC8

	31374QZB4
	Freddie /Fannie Agency MBS
	Hartford Life Insurance Company
	CRC
	(523)
	(583)
	 NA 
	CRC31374QZB4

	31374TJV2
	Freddie /Fannie Agency MBS
	Hartford Life Insurance Company
	CRC
	(93)
	(104)
	 NA 
	CRC31374TJV2

	31374TRJ0
	Freddie /Fannie Agency MBS
	Hartford Life Insurance Company
	CRC
	(12,716)
	(14,170)
	 NA 
	CRC31374TRJ0

	31374Y2V9
	Freddie /Fannie Agency MBS
	Hartford Life Insurance Company
	CRC
	(597)
	(665)
	 NA 
	CRC31374Y2V9

	31376J2G3
	Freddie /Fannie Agency MBS
	Hartford Life Insurance Company
	CRC
	(635)
	(707)
	 NA 
	CRC31376J2G3

	31379E3G0
	Freddie /Fannie Agency MBS
	Hartford Life Insurance Company
	CRC
	(98)
	(109)
	 NA 
	CRC31379E3G0

	31379VUA5
	Freddie /Fannie Agency MBS
	Hartford Life Insurance Company
	CRC
	(73)
	(82)
	 NA 
	CRC31379VUA5

	31380TV81
	Freddie /Fannie Agency MBS
	Hartford Life Insurance Company
	CRC
	(379)
	(423)
	 NA 
	CRC31380TV81

	31380VD29
	Freddie /Fannie Agency MBS
	Hartford Life Insurance Company
	CRC
	(349)
	(389)
	 NA 
	CRC31380VD29

	31380YBY5
	Freddie /Fannie Agency MBS
	Hartford Life Insurance Company
	CRC
	(409)
	(456)
	 NA 
	CRC31380YBY5

	31381AMX6
	Freddie /Fannie Agency MBS
	Hartford Life Insurance Company
	CRC
	(1,772)
	(1,974)
	 NA 
	CRC31381AMX6

	
								
	31382GZJ9
	Freddie /Fannie Agency MBS
	Hartford Life Insurance Company
	CRC
	(96)
	(107)
	 NA 
	CRC31382GZJ9

	31382KPD4
	Freddie /Fannie Agency MBS
	Hartford Life Insurance Company
	CRC
	(11)
	(12)
	 NA 
	CRC31382KPD4

	31382RNY5
	Freddie /Fannie Agency MBS
	Hartford Life Insurance Company
	CRC
	(735)
	(819)
	 NA 
	CRC31382RNY5

	31382SE72
	Freddie /Fannie Agency MBS
	Hartford Life Insurance Company
	CRC
	(157)
	(175)
	 NA 
	CRC31382SE72

	31383DVT7
	Freddie /Fannie Agency MBS
	Hartford Life Insurance Company
	CRC
	(306)
	(341)
	 NA 
	CRC31383DVT7

	31383EFV8
	Freddie /Fannie Agency MBS
	Hartford Life Insurance Company
	CRC
	(15)
	(17)
	 NA 
	CRC31383EFV8

	31383M2L6
	Freddie /Fannie Agency MBS
	Hartford Life Insurance Company
	CRC
	(69)
	(77)
	 NA 
	CRC31383M2L6

	31384WG87
	Freddie /Fannie Agency MBS
	Hartford Life Insurance Company
	CRC
	(51)
	(56)
	 NA 
	CRC31384WG87

	31385HQR6
	Freddie /Fannie Agency MBS
	Hartford Life Insurance Company
	CRC
	(86)
	(96)
	 NA 
	CRC31385HQR6

	31385HSL7
	Freddie /Fannie Agency MBS
	Hartford Life Insurance Company
	CRC
	(202)
	(225)
	 NA 
	CRC31385HSL7

	31385HZE5
	Freddie /Fannie Agency MBS
	Hartford Life Insurance Company
	CRC
	(88)
	(98)
	 NA 
	CRC31385HZE5

	31385JJ82
	Freddie /Fannie Agency MBS
	Hartford Life Insurance Company
	CRC
	(82)
	(92)
	 NA 
	CRC31385JJ82

	31385JJD1
	Freddie /Fannie Agency MBS
	Hartford Life Insurance Company
	CRC
	(6,690)
	(7,455)
	 NA 
	CRC31385JJD1

	31385JJF6
	Freddie /Fannie Agency MBS
	Hartford Life Insurance Company
	CRC
	(4,683)
	(5,219)
	 NA 
	CRC31385JJF6

	31385JK64
	Freddie /Fannie Agency MBS
	Hartford Life Insurance Company
	CRC
	(9,554)
	(10,646)
	 NA 
	CRC31385JK64

	31385JRL4
	Freddie /Fannie Agency MBS
	Hartford Life Insurance Company
	CRC
	(5,699)
	(6,350)
	 NA 
	CRC31385JRL4

	31385WQJ1
	Freddie /Fannie Agency MBS
	Hartford Life Insurance Company
	CRC
	(239)
	(266)
	 NA 
	CRC31385WQJ1

	31385WV63
	Freddie /Fannie Agency MBS
	Hartford Life Insurance Company
	CRC
	(160)
	(179)
	 NA 
	CRC31385WV63

	31385WYY9
	Freddie /Fannie Agency MBS
	Hartford Life Insurance Company
	CRC
	(78)
	(87)
	 NA 
	CRC31385WYY9

	31385WZ77
	Freddie /Fannie Agency MBS
	Hartford Life Insurance Company
	CRC
	(27)
	(30)
	 NA 
	CRC31385WZ77

	31385WZT9
	Freddie /Fannie Agency MBS
	Hartford Life Insurance Company
	CRC
	(69,915)
	(77,908)
	 NA 
	CRC31385WZT9

	31385XNP8
	Freddie /Fannie Agency MBS
	Hartford Life Insurance Company
	CRC
	(113,698)
	(126,698)
	 NA 
	CRC31385XNP8

	31386GJV6
	Freddie /Fannie Agency MBS
	Hartford Life Insurance Company
	CRC
	(13)
	(14)
	 NA 
	CRC31386GJV6

	31387BUY7
	Freddie /Fannie Agency MBS
	Hartford Life Insurance Company
	CRC
	(1,327)
	(1,479)
	 NA 
	CRC31387BUY7

	31387DUW7
	Freddie /Fannie Agency MBS
	Hartford Life Insurance Company
	CRC
	(43)
	(48)
	 NA 
	CRC31387DUW7

	31387EFJ1
	Freddie /Fannie Agency MBS
	Hartford Life Insurance Company
	CRC
	(88)
	(98)
	 NA 
	CRC31387EFJ1

	31387KK77
	Freddie /Fannie Agency MBS
	Hartford Life Insurance Company
	CRC
	(893)
	(995)
	 NA 
	CRC31387KK77

	
								
	31387QUP3
	Freddie /Fannie Agency MBS
	Hartford Life Insurance Company
	CRC
	(93)
	(103)
	 NA 
	CRC31387QUP3

	31387V4D8
	Freddie /Fannie Agency MBS
	Hartford Life Insurance Company
	CRC
	(145)
	(162)
	 NA 
	CRC31387V4D8

	31387WTE7
	Freddie /Fannie Agency MBS
	Hartford Life Insurance Company
	CRC
	(58)
	(64)
	 NA 
	CRC31387WTE7

	31388CMV9
	Freddie /Fannie Agency MBS
	Hartford Life Insurance Company
	CRC
	(767)
	(854)
	 NA 
	CRC31388CMV9

	31388KWY4
	Freddie /Fannie Agency MBS
	Hartford Life Insurance Company
	CRC
	(25,489)
	(28,403)
	 NA 
	CRC31388KWY4

	31388XTD6
	Freddie /Fannie Agency MBS
	Hartford Life Insurance Company
	CRC
	(603)
	(672)
	 NA 
	CRC31388XTD6

	31389AD26
	Freddie /Fannie Agency MBS
	Hartford Life Insurance Company
	CRC
	(3,672)
	(4,092)
	 NA 
	CRC31389AD26

	31389DYC5
	Freddie /Fannie Agency MBS
	Hartford Life Insurance Company
	CRC
	(5,616)
	(6,258)
	 NA 
	CRC31389DYC5

	31389GM49
	Freddie /Fannie Agency MBS
	Hartford Life Insurance Company
	CRC
	(11)
	(12)
	 NA 
	CRC31389GM49

	31389JVJ0
	Freddie /Fannie Agency MBS
	Hartford Life Insurance Company
	CRC
	(128)
	(142)
	 NA 
	CRC31389JVJ0

	31389NKH7
	Freddie /Fannie Agency MBS
	Hartford Life Insurance Company
	CRC
	(63)
	(70)
	 NA 
	CRC31389NKH7

	31389NTK1
	Freddie /Fannie Agency MBS
	Hartford Life Insurance Company
	CRC
	(11)
	(12)
	 NA 
	CRC31389NTK1

	31389S6W9
	Freddie /Fannie Agency MBS
	Hartford Life Insurance Company
	CRC
	(9,447)
	(10,527)
	 NA 
	CRC31389S6W9

	31389VMF1
	Freddie /Fannie Agency MBS
	Hartford Life Insurance Company
	CRC
	(58)
	(65)
	 NA 
	CRC31389VMF1

	31389WGN9
	Freddie /Fannie Agency MBS
	Hartford Life Insurance Company
	CRC
	(10,037)
	(11,185)
	 NA 
	CRC31389WGN9

	31390ABH2
	Freddie /Fannie Agency MBS
	Hartford Life Insurance Company
	CRC
	(388)
	(432)
	 NA 
	CRC31390ABH2

	31390ESP8
	Freddie /Fannie Agency MBS
	Hartford Life Insurance Company
	CRC
	(493)
	(549)
	 NA 
	CRC31390ESP8

	31390GPV3
	Freddie /Fannie Agency MBS
	Hartford Life Insurance Company
	CRC
	(972)
	(1,084)
	 NA 
	CRC31390GPV3

	31390JCP4
	Freddie /Fannie Agency MBS
	Hartford Life Insurance Company
	CRC
	(16)
	(18)
	 NA 
	CRC31390JCP4

	31390L3V6
	Freddie /Fannie Agency MBS
	Hartford Life Insurance Company
	CRC
	(274)
	(305)
	 NA 
	CRC31390L3V6

	31390MHU1
	Freddie /Fannie Agency MBS
	Hartford Life Insurance Company
	CRC
	(25)
	(28)
	 NA 
	CRC31390MHU1

	31390MVF8
	Freddie /Fannie Agency MBS
	Hartford Life Insurance Company
	CRC
	(97)
	(108)
	 NA 
	CRC31390MVF8

	31390PBX4
	Freddie /Fannie Agency MBS
	Hartford Life Insurance Company
	CRC
	(3,394)
	(3,782)
	 NA 
	CRC31390PBX4

	31390PGD3
	Freddie /Fannie Agency MBS
	Hartford Life Insurance Company
	CRC
	(8,948)
	(9,971)
	 NA 
	CRC31390PGD3

	31390PPL5
	Freddie /Fannie Agency MBS
	Hartford Life Insurance Company
	CRC
	(1,268)
	(1,413)
	 NA 
	CRC31390PPL5

	31390RFA6
	Freddie /Fannie Agency MBS
	Hartford Life Insurance Company
	CRC
	(12)
	(13)
	 NA 
	CRC31390RFA6

	31390SV81
	Freddie /Fannie Agency MBS
	Hartford Life Insurance Company
	CRC
	(2,260)
	(2,519)
	 NA 
	CRC31390SV81

	
								
	31390SWU1
	Freddie /Fannie Agency MBS
	Hartford Life Insurance Company
	CRC
	(5)
	(6)
	 NA 
	CRC31390SWU1

	31390T2Q1
	Freddie /Fannie Agency MBS
	Hartford Life Insurance Company
	CRC
	(6,736)
	(7,507)
	 NA 
	CRC31390T2Q1

	31390TUG2
	Freddie /Fannie Agency MBS
	Hartford Life Insurance Company
	CRC
	(74)
	(83)
	 NA 
	CRC31390TUG2

	31390TVF3
	Freddie /Fannie Agency MBS
	Hartford Life Insurance Company
	CRC
	(665)
	(741)
	 NA 
	CRC31390TVF3

	31390UXA9
	Freddie /Fannie Agency MBS
	Hartford Life Insurance Company
	CRC
	(737)
	(821)
	 NA 
	CRC31390UXA9

	31390W4C3
	Freddie /Fannie Agency MBS
	Hartford Life Insurance Company
	CRC
	(139)
	(155)
	 NA 
	CRC31390W4C3

	31390YR83
	Freddie /Fannie Agency MBS
	Hartford Life Insurance Company
	CRC
	(1,722)
	(1,919)
	 NA 
	CRC31390YR83

	31391AV22
	Freddie /Fannie Agency MBS
	Hartford Life Insurance Company
	CRC
	(20,009)
	(22,297)
	 NA 
	CRC31391AV22

	31391BMR5
	Freddie /Fannie Agency MBS
	Hartford Life Insurance Company
	CRC
	(152)
	(169)
	 NA 
	CRC31391BMR5

	31391FXX1
	Freddie /Fannie Agency MBS
	Hartford Life Insurance Company
	CRC
	(3,211)
	(3,578)
	 NA 
	CRC31391FXX1

	31391K5X1
	Freddie /Fannie Agency MBS
	Hartford Life Insurance Company
	CRC
	(57,262)
	(63,809)
	 NA 
	CRC31391K5X1

	31391LX75
	Freddie /Fannie Agency MBS
	Hartford Life Insurance Company
	CRC
	(108)
	(120)
	 NA 
	CRC31391LX75

	31391TWH7
	Freddie /Fannie Agency MBS
	Hartford Life Insurance Company
	CRC
	(274)
	(306)
	 NA 
	CRC31391TWH7

	31400EAV2
	Freddie /Fannie Agency MBS
	Hartford Life Insurance Company
	CRC
	(467)
	(520)
	 NA 
	CRC31400EAV2

	31400WRT9
	Freddie /Fannie Agency MBS
	Hartford Life Insurance Company
	CRC
	(8,821)
	(9,830)
	 NA 
	CRC31400WRT9

	31402C3V2
	Freddie /Fannie Agency MBS
	Hartford Life Insurance Company
	CRC
	(4,876)
	(5,434)
	 NA 
	CRC31402C3V2

	31402FG41
	Freddie /Fannie Agency MBS
	Hartford Life Insurance Company
	CRC
	(10,695)
	(11,918)
	 NA 
	CRC31402FG41

	31402VS43
	Freddie /Fannie Agency MBS
	Hartford Life Insurance Company
	CRC
	(5,427)
	(6,047)
	 NA 
	CRC31402VS43

	31403AYD1
	Freddie /Fannie Agency MBS
	Hartford Life Insurance Company
	CRC
	(5,422)
	(6,042)
	 NA 
	CRC31403AYD1

	31403BB85
	Freddie /Fannie Agency MBS
	Hartford Life Insurance Company
	CRC
	(3,461)
	(3,857)
	 NA 
	CRC31403BB85

	31403CPJ4
	Freddie /Fannie Agency MBS
	Hartford Life Insurance Company
	CRC
	(665)
	(741)
	 NA 
	CRC31403CPJ4

	31403NQC4
	Freddie /Fannie Agency MBS
	Hartford Life Insurance Company
	CRC
	(10,660)
	(11,878)
	 NA 
	CRC31403NQC4

	31403QQN3
	Freddie /Fannie Agency MBS
	Hartford Life Insurance Company
	CRC
	(238)
	(265)
	 NA 
	CRC31403QQN3

	31403RC89
	Freddie /Fannie Agency MBS
	Hartford Life Insurance Company
	CRC
	(28,946)
	(32,255)
	 NA 
	CRC31403RC89

	31403YLX9
	Freddie /Fannie Agency MBS
	Hartford Life Insurance Company
	CRC
	(1,248)
	(1,391)
	 NA 
	CRC31403YLX9

	31404CA67
	Freddie /Fannie Agency MBS
	Hartford Life Insurance Company
	CRC
	(4,823)
	(5,374)
	 NA 
	CRC31404CA67

	31404GYW5
	Freddie /Fannie Agency MBS
	Hartford Life Insurance Company
	CRC
	(331)
	(369)
	 NA 
	CRC31404GYW5

	
								
	31404KJM5
	Freddie /Fannie Agency MBS
	Hartford Life Insurance Company
	CRC
	(1,021)
	(1,138)
	 NA 
	CRC31404KJM5

	31404P3D1
	Freddie /Fannie Agency MBS
	Hartford Life Insurance Company
	CRC
	(955)
	(1,064)
	 NA 
	CRC31404P3D1

	31404QUM9
	Freddie /Fannie Agency MBS
	Hartford Life Insurance Company
	CRC
	(3,305)
	(3,683)
	 NA 
	CRC31404QUM9

	31404SA96
	Freddie /Fannie Agency MBS
	Hartford Life Insurance Company
	CRC
	(959)
	(1,068)
	 NA 
	CRC31404SA96

	31404UYC8
	Freddie /Fannie Agency MBS
	Hartford Life Insurance Company
	CRC
	(1,795)
	(2,000)
	 NA 
	CRC31404UYC8

	31404YSU7
	Freddie /Fannie Agency MBS
	Hartford Life Insurance Company
	CRC
	(772)
	(860)
	 NA 
	CRC31404YSU7

	31405ADK6
	Freddie /Fannie Agency MBS
	Hartford Life Insurance Company
	CRC
	(378)
	(421)
	 NA 
	CRC31405ADK6

	31410K5K6
	Freddie /Fannie Agency MBS
	Hartford Life Insurance Company
	CRC
	(396,327)
	(441,639)
	 NA 
	CRC31410K5K6

	3137G0EW5
	STACR_15-DNA1   M3
	Hartford Life Insurance Company
	CRC
	(3,625,000)
	(4,033,035)
	 NA 
	CRC3137G0EW5

	81211KAK6
	SEALED AIR CORPORATION     144A
	Hartford Life Insurance Company
	CRC
	(233,000)
	(257,465)
	 NA 
	CRC81211KAK6

	31401MFB2
	Freddie /Fannie Agency MBS
	Hartford Life Insurance Company
	CRC
	(202,487)
	(225,931)
	 NA 
	CRC31401MFB2

	31391CKQ7
	Freddie /Fannie Agency MBS
	Hartford Life Insurance Company
	CRC
	(6,942)
	(7,746)
	 NA 
	CRC31391CKQ7

	718286BN6
	PHILIPPINES (REPUBLIC OF)
	Hartford Life Insurance Company
	CRC
	(2,000,000)
	(2,198,180)
	 NA 
	CRC718286BN6

	31413UTQ2
	Freddie /Fannie Agency MBS
	Hartford Life Insurance Company
	CRC
	(298,431)
	(331,680)
	 NA 
	CRC31413UTQ2

	31368HKZ5
	Freddie /Fannie Agency MBS
	Hartford Life Insurance Company
	CRC
	(46)
	(52)
	 NA 
	CRC31368HKZ5

	31385JKZ0
	Freddie /Fannie Agency MBS
	Hartford Life Insurance Company
	CRC
	(1,201)
	(1,342)
	 NA 
	CRC31385JKZ0

	36200VX99
	Ginnie Agency MBS
	Hartford Life Insurance Company
	CRC
	(52,292)
	(58,524)
	 NA 
	CRC36200VX99

	36200WC90
	Ginnie Agency MBS
	Hartford Life Insurance Company
	CRC
	(21,929)
	(24,543)
	 NA 
	CRC36200WC90

	36200XY52
	Ginnie Agency MBS
	Hartford Life Insurance Company
	CRC
	(53,696)
	(60,096)
	 NA 
	CRC36200XY52

	36201CLN2
	Ginnie Agency MBS
	Hartford Life Insurance Company
	CRC
	(2,530)
	(2,832)
	 NA 
	CRC36201CLN2

	36201FXX0
	Ginnie Agency MBS
	Hartford Life Insurance Company
	CRC
	(96,564)
	(108,074)
	 NA 
	CRC36201FXX0

	36213ANM2
	Ginnie Agency MBS
	Hartford Life Insurance Company
	CRC
	(6,806)
	(7,618)
	 NA 
	CRC36213ANM2

	31386MZB9
	Freddie /Fannie Agency MBS
	Hartford Life Insurance Company
	CRC
	(8,905)
	(9,955)
	 NA 
	CRC31386MZB9

	3128KRWQ3
	Freddie /Fannie Agency MBS
	Hartford Life Insurance Company
	CRC
	(839,819)
	(936,874)
	 NA 
	CRC3128KRWQ3

	31384WLN8
	Freddie /Fannie Agency MBS
	Hartford Life Insurance Company
	CRC
	(6,458)
	(7,231)
	 NA 
	CRC31384WLN8

	31385WW88
	Freddie /Fannie Agency MBS
	Hartford Life Insurance Company
	CRC
	(45)
	(50)
	 NA 
	CRC31385WW88

	31385JNG9
	Freddie /Fannie Agency MBS
	Hartford Life Insurance Company
	CRC
	(458)
	(515)
	 NA 
	CRC31385JNG9

	
								
	36202DZZ7
	Ginnie Agency MBS
	Hartford Life Insurance Company
	CRC
	(123,255)
	(137,803)
	 NA 
	CRC36202DZZ7

	31283HY58
	Freddie /Fannie Agency MBS
	Hartford Life Insurance Company
	CRC
	(303,995)
	(342,553)
	 NA 
	CRC31283HY58

	31287WDA3
	Freddie /Fannie Agency MBS
	Hartford Life Insurance Company
	CRC
	(956)
	(1,078)
	 NA 
	CRC31287WDA3

	31371KP88
	Freddie /Fannie Agency MBS
	Hartford Life Insurance Company
	CRC
	(13,437)
	(15,080)
	 NA 
	CRC31371KP88

	31391L5L5
	Freddie /Fannie Agency MBS
	Hartford Life Insurance Company
	CRC
	(261)
	(295)
	 NA 
	CRC31391L5L5

	31402DF39
	Freddie /Fannie Agency MBS
	Hartford Life Insurance Company
	CRC
	(2,595)
	(2,952)
	 NA 
	CRC31402DF39

	459745GK5
	INTERNATIONAL LEASE FINANCE CORP
	Hartford Life Insurance Company
	CRC
	(3,374,000)
	(3,891,032)
	 NA 
	CRC459745GK5

	BHM0627E0
	BASIN ELECTRIC POWER COOPERATIVE I Prvt
	Hartford Life Insurance Company
	CRC
	(250,000)
	(291,275)
	 NA 
	CRCBHM0627E0

	715638BM3
	PERU (THE REPUBLIC OF)
	Hartford Life Insurance Company
	CRC
	(1,220,000)
	(1,403,000)
	 NA 
	CRC715638BM3

	BHM1CVL76
	KAZAKHSTAN (REPUBLIC OF) MTN RegS
	Hartford Life Insurance Company
	CRC
	(1,000,000)
	(1,191,500)
	 NA 
	CRCBHM1CVL76

	BRS3B9085
	INDONESIA (REPUBLIC OF )   RegS
	Hartford Life Insurance Company
	CRC
	(1,885,000)
	(2,191,661)
	 NA 
	CRCBRS3B9085

	36186CBY8
	ALLY FINANCIAL INC
	Hartford Life Insurance Company
	CRC
	(754,000)
	(904,800)
	 NA 
	CRC36186CBY8

	714264AF5
	PERNOD-RICARD SA  144A
	Hartford Life Insurance Company
	CRC
	(5,870,000)
	(5,870,000)
	 NA 
	CRC714264AF5

	72650RAP7
	PLAINS ALL AMERICAN PIPELINE LP
	Hartford Life Insurance Company
	CRC
	(3,295,000)
	(3,295,000)
	 NA 
	CRC72650RAP7

	44923QAH7
	HYUNDAI CAPITAL AMERICA    144A
	Hartford Life Insurance Company
	CRC
	(9,645,000)
	(9,645,000)
	 NA 
	CRC44923QAH7

	62718QAA3
	MURRAY STREET INVESTMENT TRUST I
	Hartford Life Insurance Company
	CRC
	(12,175,000)
	(12,175,000)
	 NA 
	CRC62718QAA3

	65557FAB2
	NORDEA BANK AB    144A
	Hartford Life Insurance Company
	CRC
	(15,000,000)
	(15,000,000)
	 NA 
	CRC65557FAB2

	55608PAE4
	MACQUARIE BANK LTD MTN 144A
	Hartford Life Insurance Company
	CRC
	(4,490,000)
	(4,490,000)
	 NA 
	CRC55608PAE4

	717081DQ3
	PFIZER INC
	Hartford Life Insurance Company
	CRC
	(6,349,000)
	(6,349,000)
	 NA 
	CRC717081DQ3

	233851AP9
	DAIMLER FINANCE NORTH AMERICA LLC 144A
	Hartford Life Insurance Company
	CRC
	(5,000,000)
	(5,000,000)
	 NA 
	CRC233851AP9

	31371KQE4
	Freddie /Fannie Agency MBS
	Hartford Life Insurance Company
	CRC
	(3,923)
	(3,923)
	 NA 
	CRC31371KQE4

	02581FYA1
	AMERICAN EXPRESS CENTURION BANK
	Hartford Life Insurance Company
	CRC
	(10,000,000)
	(10,000,000)
	 NA 
	CRC02581FYA1

	701776AM8
	PARCSR_07-12 (IG8 10-15%)  144A
	Hartford Life Insurance Company
	CRC
	(100,000,000)
	(100,000,000)
	 NA 
	CRC701776AM8

	858271AA7
	STEELRIVER TRANSMISSION COMPANY LL Prvt
	Hartford Life Insurance Company
	CRC
	(9,869,559)
	(9,869,559)
	 NA 
	CRC858271AA7

	912828XP0
	TREASURY NOTE
	Hartford Life Insurance Company
	CRC
	(5,170,000)
	(5,170,000)
	 NA 
	CRC912828XP0

	BHM02QEM5
	HTFD LION INDUS   PN Prvt
	Hartford Life Insurance Company
	CRC
	(25,845,851)
	(25,845,851)
	 NA 
	CRCBHM02QEM5

	87020PAA5
	SWEDBANK AB       144A
	Hartford Life Insurance Company
	CRC
	(3,765,000)
	(3,765,000)
	 NA 
	CRC87020PAA5

	
								
	68233JAK0
	ONCOR ELECTRIC DELIVERY CO LLC
	Hartford Life Insurance Company
	CRC
	(13,950,000)
	(13,950,000)
	 NA 
	CRC68233JAK0

	505742AC0
	LADDER CAPITAL FINANCE HOLDINGS LL
	Hartford Life Insurance Company
	CRC
	(2,082,000)
	(2,082,000)
	 NA 
	CRC505742AC0

	42824CAS8
	HEWLETT PACKARD ENTERPRISE CO
	Hartford Life Insurance Company
	CRC
	(4,500,000)
	(4,500,000)
	 NA 
	CRC42824CAS8

	BHM0JA815
	SCHREIBER FOODS INC        Prvt
	Hartford Life Insurance Company
	CRC
	(7,000,000)
	(7,000,000)
	 NA 
	CRCBHM0JA815

	843646AN0
	SOUTHERN POWER COMPANY
	Hartford Life Insurance Company
	CRC
	(5,346,000)
	(5,346,000)
	 NA 
	CRC843646AN0

	BHM0WHSY1
	AMETEK INC        Prvt
	Hartford Life Insurance Company
	CRC
	(5,000,000)
	(5,000,000)
	 NA 
	CRCBHM0WHSY1

	BHM1K1266
	PNG CO LLC        Prvt
	Hartford Life Insurance Company
	CRC
	(3,300,000)
	(3,300,000)
	 NA 
	CRCBHM1K1266

	61761JVM8
	MORGAN STANLEY
	Hartford Life Insurance Company
	CRC
	(15,900,000)
	(15,900,000)
	 NA 
	CRC61761JVM8

	465685AE5
	ITC HOLDINGS CORP 144A
	Hartford Life Insurance Company
	CRC
	(10,591,000)
	(10,652,428)
	 NA 
	CRC465685AE5

	14042E3V0
	CAPITAL ONE NA/MCLEAN VA
	Hartford Life Insurance Company
	CRC
	(9,125,000)
	(9,125,000)
	 NA 
	CRC14042E3V0

	BHM0M35G7
	HTFD THE RIDGEW   PN Prvt
	Hartford Life Insurance Company
	CRC
	(10,000,000)
	(10,000,000)
	 NA 
	CRCBHM0M35G7

	053643AG7
	AVEST_06-1A      C 144A
	Hartford Life Insurance Company
	CRC
	(3,315,000)
	(3,315,000)
	 NA 
	CRC053643AG7

	89236TCX1
	TOYOTA MOTOR CREDIT CORP MTN
	Hartford Life Insurance Company
	CRC
	(5,444,000)
	(5,444,000)
	 NA 
	CRC89236TCX1

	04363UAC0
	ASCIANO FINANCE LTD        144A
	Hartford Life Insurance Company
	CRC
	(10,411,000)
	(10,411,000)
	 NA 
	CRC04363UAC0

	362320AZ6
	GTE CORP
	Hartford Life Insurance Company
	CRC
	(10,400,000)
	(10,400,000)
	 NA 
	CRC362320AZ6

	151020AK0
	CELGENE CORPORATION
	Hartford Life Insurance Company
	CRC
	(8,000,000)
	(8,036,000)
	 NA 
	CRC151020AK0

	694308GN1
	PACIFIC GAS & ELECTRIC CO
	Hartford Life Insurance Company
	CRC
	(10,000,000)
	(10,379,000)
	 NA 
	CRC694308GN1

	BHM0LC9M1
	HTFD EVERGREEN    PN Prvt
	Hartford Life Insurance Company
	CRC
	(15,513,627)
	(15,513,627)
	 NA 
	CRCBHM0LC9M1

	56585AAK8
	MARATHON PETROLEUM CORP
	Hartford Life Insurance Company
	CRC
	(3,000,000)
	(3,012,600)
	 NA 
	CRC56585AAK8

	62854AAA2
	MYLAN NV          144A
	Hartford Life Insurance Company
	CRC
	(5,390,000)
	(5,409,404)
	 NA 
	CRC62854AAA2

	075887AU3
	BECTON DICKINSON AND COMPANY
	Hartford Life Insurance Company
	CRC
	(16,995,000)
	(18,058,887)
	 NA 
	CRC075887AU3

	30165QAC4
	EART_14-1A       C 144A
	Hartford Life Insurance Company
	CRC
	(1,615,000)
	(1,615,000)
	 NA 
	CRC30165QAC4

	17305EDY8
	CCCIT_07-A8     A8
	Hartford Life Insurance Company
	CRC
	(6,400,000)
	(6,400,000)
	 NA 
	CRC17305EDY8

	03062AAE6
	AMCAR_14-3       B
	Hartford Life Insurance Company
	CRC
	(2,000,000)
	(2,000,000)
	 NA 
	CRC03062AAE6

	14313QAF2
	CARMX_14-1       C
	Hartford Life Insurance Company
	CRC
	(1,840,000)
	(1,840,000)
	 NA 
	CRC14313QAF2

	BHM0W7MC7
	LEVEL 3 FINANCING INC   TL-B2 Prvt
	Hartford Life Insurance Company
	CRC
	(1,777,000)
	(1,777,000)
	 NA 
	CRCBHM0W7MC7

	96524UAC2
	WITEH_06-4A      B 144A
	Hartford Life Insurance Company
	CRC
	(1,901,000)
	(1,901,000)
	 NA 
	CRC96524UAC2

	
								
	96524UAD0
	WITEH_06-4A      C 144A
	Hartford Life Insurance Company
	CRC
	(2,620,000)
	(2,620,000)
	 NA 
	CRC96524UAD0

	161571FU3
	CHAIT_13-A1     A1
	Hartford Life Insurance Company
	CRC
	(11,750,000)
	(11,750,000)
	 NA 
	CRC161571FU3

	BHM12L080
	TRANSDIGM INC    TL-C Prvt
	Hartford Life Insurance Company
	CRC
	(1,974,154)
	(1,974,154)
	 NA 
	CRCBHM12L080

	02587RAA5
	AMXCA_12-4       C 144A
	Hartford Life Insurance Company
	CRC
	(15,000,000)
	(15,000,000)
	 NA 
	CRC02587RAA5

	48123VAB8
	J2 GLOBAL INC
	Hartford Life Insurance Company
	CRC
	(2,657,000)
	(2,710,140)
	 NA 
	CRC48123VAB8

	941574AB1
	WTFRT_07-1A     A2 144A
	Hartford Life Insurance Company
	CRC
	(1,800,000)
	(1,800,000)
	 NA 
	CRC941574AB1

	BHM1C6FW3
	CABELAS INCORPORATED       Prvt
	Hartford Life Insurance Company
	CRC
	(17,000,000)
	(17,000,000)
	 NA 
	CRCBHM1C6FW3

	14313QAG0
	CARMX_14-1       D
	Hartford Life Insurance Company
	CRC
	(2,200,000)
	(2,200,000)
	 NA 
	CRC14313QAG0

	78443CAZ7
	SLMA_03-C       A2
	Hartford Life Insurance Company
	CRC
	(3,058,725)
	(3,058,725)
	 NA 
	CRC78443CAZ7

	319963BE3
	FIRST DATA CORPORATION     144A
	Hartford Life Insurance Company
	CRC
	(1,068,000)
	(1,068,000)
	 NA 
	CRC319963BE3

	57701RAA0
	MATTAMY GROUP CORP         144A
	Hartford Life Insurance Company
	CRC
	(1,526,000)
	(1,550,874)
	 NA 
	CRC57701RAA0

	BHM1KFGX1
	NXP BV           TL B Prvt
	Hartford Life Insurance Company
	CRC
	(1,345,625)
	(1,345,625)
	 NA 
	CRCBHM1KFGX1

	46186GAJ2
	INWD_06-1A       C 144A
	Hartford Life Insurance Company
	CRC
	(2,397,000)
	(2,397,000)
	 NA 
	CRC46186GAJ2

	959319AG9
	WESTERN REFINING INC
	Hartford Life Insurance Company
	CRC
	(1,330,000)
	(1,371,629)
	 NA 
	CRC959319AG9

	224607AD3
	CRTOS_07-1A      C 144A
	Hartford Life Insurance Company
	CRC
	(5,481,000)
	(5,481,000)
	 NA 
	CRC224607AD3

	374825AA5
	GIBSON ENERGY INC 144A
	Hartford Life Insurance Company
	CRC
	(1,243,000)
	(1,285,013)
	 NA 
	CRC374825AA5

	BHM0JLKV1
	HTFD KINGSTOWNE   PN Prvt
	Hartford Life Insurance Company
	CRC
	(8,887,858)
	(9,513,563)
	 NA 
	CRCBHM0JLKV1

	88160QAD5
	TESORO LOGISTICS LP/TESORO LOGISTI
	Hartford Life Insurance Company
	CRC
	(1,133,000)
	(1,167,670)
	 NA 
	CRC88160QAD5

	33882VAL9
	FLAT_12-1A     A2R 144A
	Hartford Life Insurance Company
	CRC
	(2,000,000)
	(2,000,000)
	 NA 
	CRC33882VAL9

	20605PAC5
	CONCHO RESOURCES INC
	Hartford Life Insurance Company
	CRC
	(1,428,000)
	(1,428,000)
	 NA 
	CRC20605PAC5

	BHM0M39B4
	HTFD VILLAGE SH   PN Prvt
	Hartford Life Insurance Company
	CRC
	(15,543,972)
	(15,543,972)
	 NA 
	CRCBHM0M39B4

	14309JAQ0
	CGMS_12-1AR     BR 144A
	Hartford Life Insurance Company
	CRC
	(8,074,000)
	(8,074,000)
	 NA 
	CRC14309JAQ0

	14309JAS6
	CGMS_12-1AR     CR 144A
	Hartford Life Insurance Company
	CRC
	(9,721,000)
	(9,721,000)
	 NA 
	CRC14309JAS6

	277345AE4
	EASTL_07-1A    A2B 144A
	Hartford Life Insurance Company
	CRC
	(16,323,000)
	(16,323,000)
	 NA 
	CRC277345AE4

	21036PAH1
	CONSTELLATION BRANDS INC
	Hartford Life Insurance Company
	CRC
	(10,108,000)
	(11,296,701)
	 NA 
	CRC21036PAH1

	382550BC4
	GOODYEAR TIRE & RUBBER COMPANY (TH
	Hartford Life Insurance Company
	CRC
	(1,182,000)
	(1,182,000)
	 NA 
	CRC382550BC4

	16524RAE3
	WILLIAMS PARTNERS LP/ACMP FINANCE
	Hartford Life Insurance Company
	CRC
	(9,555,000)
	(9,555,000)
	 NA 
	CRC16524RAE3

	
								
	95736XAB4
	WCHC_07-1A     A1B 144A
	Hartford Life Insurance Company
	CRC
	(10,350,000)
	(10,350,000)
	 NA 
	CRC95736XAB4

	858119AV2
	STEEL DYNAMICS INC
	Hartford Life Insurance Company
	CRC
	(1,574,000)
	(1,623,266)
	 NA 
	CRC858119AV2

	69688XAC5
	PLMRS_14-1A     A2 144A
	Hartford Life Insurance Company
	CRC
	(3,424,000)
	(3,424,000)
	 NA 
	CRC69688XAC5

	69688XAE1
	PLMRS_14-1A      B 144A
	Hartford Life Insurance Company
	CRC
	(2,250,000)
	(2,250,000)
	 NA 
	CRC69688XAE1

	20605PAE1
	CONCHO RESOURCES INC
	Hartford Life Insurance Company
	CRC
	(1,923,000)
	(1,975,883)
	 NA 
	CRC20605PAE1

	12627UAB7
	COAS_14-1A      A2 144A
	Hartford Life Insurance Company
	CRC
	(1,500,000)
	(1,500,000)
	 NA 
	CRC12627UAB7

	35553AAL8
	FRASR_12-7A    A2R 144A
	Hartford Life Insurance Company
	CRC
	(3,243,000)
	(3,243,000)
	 NA 
	CRC35553AAL8

	BHM1KBQH4
	WESTERN DIGITAL CORPORATION    TL B Prvt
	Hartford Life Insurance Company
	CRC
	(1,286,336)
	(1,286,336)
	 NA 
	CRCBHM1KBQH4

	26613TAF7
	DUPONT FABROS TECHNOLOGY LP
	Hartford Life Insurance Company
	CRC
	(1,253,000)
	(1,253,000)
	 NA 
	CRC26613TAF7

	48274DAA7
	KVK_12-1A        A 144A
	Hartford Life Insurance Company
	CRC
	(4,444,853)
	(4,444,853)
	 NA 
	CRC48274DAA7

	04941DAL9
	ATCLO_12-2A     BR 144A
	Hartford Life Insurance Company
	CRC
	(2,700,000)
	(2,700,000)
	 NA 
	CRC04941DAL9

	04941DAN5
	ATCLO_12-2A     CR 144A
	Hartford Life Insurance Company
	CRC
	(3,600,000)
	(3,600,000)
	 NA 
	CRC04941DAN5

	920479AA0
	VALVOLINE FINCO TWO LLC    144A
	Hartford Life Insurance Company
	CRC
	(1,512,000)
	(1,512,000)
	 NA 
	CRC920479AA0

	04941CAN7
	ATCLO_12-1A   A2LR 144A
	Hartford Life Insurance Company
	CRC
	(2,800,000)
	(2,800,000)
	 NA 
	CRC04941CAN7

	04941CAQ0
	ATCLO_12-1A   A3LR 144A
	Hartford Life Insurance Company
	CRC
	(1,500,000)
	(1,500,000)
	 NA 
	CRC04941CAQ0

	74982GAP6
	RACEP_12-7A     BR 144A
	Hartford Life Insurance Company
	CRC
	(4,500,000)
	(4,500,000)
	 NA 
	CRC74982GAP6

	36804PAF3
	GATX CORP         144A
	Hartford Life Insurance Company
	CRC
	(5,807,907)
	(6,109,105)
	 NA 
	CRC36804PAF3

	26250JAJ9
	DRSLF_12-25A   B1R 144A
	Hartford Life Insurance Company
	CRC
	(2,000,000)
	(2,000,000)
	 NA 
	CRC26250JAJ9

	69689XAC4
	PSTAT_16-3A     A2 144A
	Hartford Life Insurance Company
	CRC
	(2,800,000)
	(2,800,000)
	 NA 
	CRC69689XAC4

	69689XAE0
	PSTAT_16-3A      B 144A
	Hartford Life Insurance Company
	CRC
	(2,500,000)
	(2,500,000)
	 NA 
	CRC69689XAE0

	87612BAZ5
	TARGA RESOURCES PARTNERS LP/TARGA 144A
	Hartford Life Insurance Company
	CRC
	(1,107,000)
	(1,107,000)
	 NA 
	CRC87612BAZ5

	03674XAG1
	ANTERO RESOURCES CORP      144A
	Hartford Life Insurance Company
	CRC
	(1,784,000)
	(1,784,000)
	 NA 
	CRC03674XAG1

	31389XE41
	Freddie /Fannie Agency MBS
	Hartford Life Insurance Company
	CRC
	(35,089)
	(35,089)
	 NA 
	CRC31389XE41

	31390F4K2
	Freddie /Fannie Agency MBS
	Hartford Life Insurance Company
	CRC
	(27,943)
	(27,943)
	 NA 
	CRC31390F4K2

	31390RMY6
	Freddie /Fannie Agency MBS
	Hartford Life Insurance Company
	CRC
	(3,209)
	(3,209)
	 NA 
	CRC31390RMY6

	04541GRM6
	ABSHE_05-HE4    M3
	Hartford Life Insurance Company
	CRC
	(2,343,676)
	(2,343,676)
	 NA 
	CRC04541GRM6

	19075CAD5
	CWCI_07-C2      A3
	Hartford Life Insurance Company
	CRC
	(3,044,917)
	(3,044,917)
	 NA 
	CRC19075CAD5

	
								
	92978TAE1
	WBCMT_07-C31    A4
	Hartford Life Insurance Company
	CRC
	(9,933,721)
	(9,933,721)
	 NA 
	CRC92978TAE1

	17313KAF8
	CGCMT_08-C7     A4
	Hartford Life Insurance Company
	CRC
	(13,714,906)
	(13,714,906)
	 NA 
	CRC17313KAF8

	59025KAE2
	MLMT_07-C1      A4
	Hartford Life Insurance Company
	CRC
	(16,962,062)
	(16,962,062)
	 NA 
	CRC59025KAE2

	350910AQ8
	FTST_06-4TS      X 144A
	Hartford Life Insurance Company
	LC2
	(571,355)
	(3,298)
	 NA 
	LC2350910AQ8

	3137BGK32
	FHMS_K043       X1
	Hartford Life Insurance Company
	LC2
	(23,667)
	(724)
	 NA 
	LC23137BGK32

	12592XBE5
	COMM_15-CR22    XA
	Hartford Life Insurance Company
	LC2
	(25,767)
	(1,098)
	 NA 
	LC212592XBE5

	126281BB9
	CSAIL_15-C1     XA
	Hartford Life Insurance Company
	LC2
	(33,846)
	(1,517)
	 NA 
	LC2126281BB9

	61764XBK0
	MSBAM_15-C21    XA
	Hartford Life Insurance Company
	LC2
	(58,295)
	(2,730)
	 NA 
	LC261764XBK0

	94989DAZ2
	WFCM_15-C27     XA
	Hartford Life Insurance Company
	LC2
	(76,800)
	(3,641)
	 NA 
	LC294989DAZ2

	92939FBA6
	WFRBS_14-C21    XA
	Hartford Life Insurance Company
	LC2
	(213,389)
	(10,016)
	 NA 
	LC292939FBA6

	46644ABH4
	JPMBB_15-C27    XA
	Hartford Life Insurance Company
	LC2
	(64,221)
	(3,570)
	 NA 
	LC246644ABH4

	38379KPC6
	GNR_15-68       IO
	Hartford Life Insurance Company
	LC2
	(13,121,960)
	(731,287)
	 NA 
	LC238379KPC6

	3137BN6H2
	FHMS_K053       X1
	Hartford Life Insurance Company
	LC2
	(8,159)
	(462)
	 NA 
	LC23137BN6H2

	200474BD5
	COMM_15-LC19    XA
	Hartford Life Insurance Company
	LC2
	(37,405)
	(2,268)
	 NA 
	LC2200474BD5

	94989EAH0
	WFCM_15-LC20    XA
	Hartford Life Insurance Company
	LC2
	(60,846)
	(3,710)
	 NA 
	LC294989EAH0

	38379KQF8
	GNR_15-70       IO
	Hartford Life Insurance Company
	LC2
	(30,703)
	(1,919)
	 NA 
	LC238379KQF8

	94989CBA8
	WFCM_15-C26     XA
	Hartford Life Insurance Company
	LC2
	(37,366)
	(2,341)
	 NA 
	LC294989CBA8

	61764RBG2
	MSBAM_15-C20    XA
	Hartford Life Insurance Company
	LC2
	(25,755,856)
	(1,615,984)
	 NA 
	LC261764RBG2

	17323CAG2
	CGCMT_15-GC27     XA
	Hartford Life Insurance Company
	LC2
	(19,377,235)
	(1,375,782)
	 NA 
	LC217323CAG2

	3137BPVP1
	FHMS_K152       X1
	Hartford Life Insurance Company
	LC2
	(9,179)
	(779)
	 NA 
	LC23137BPVP1

	23312LAW8
	DBJPM_16-C1     XA
	Hartford Life Insurance Company
	LC2
	(13,165)
	(1,135)
	 NA 
	LC223312LAW8

	29429EAF8
	CGCMT_16-P4     XA
	Hartford Life Insurance Company
	LC2
	(4,529)
	(518)
	 NA 
	LC229429EAF8

	95000FAW6
	WFCM_16-C35     XA
	Hartford Life Insurance Company
	LC2
	(7,327,848)
	(862,814)
	 NA 
	LC295000FAW6

	60242NDH1
	MILWAUKEE REDEV TXBL POB SER C03
	Hartford Life Insurance Company
	LC2
	2,175
	1,104
	0
	LC260242NDH1

	60242NDG3
	MILWAUKEE REDEV TXBL POB SER C03
	Hartford Life Insurance Company
	LC2
	3,025
	1,613
	0
	LC260242NDG3

	88167AAE1
	TEVA PHARMACEUTICAL FINANCE NETHER
	Hartford Life Insurance Company
	LC2
	(4,547,500)
	(3,666,267)
	 NA 
	LC288167AAE1

	88732JBD9
	TIME WARNER CABLE INC
	Hartford Life Insurance Company
	LC2
	125
	106
	                          1 
	LC288732JBD9

	
								
	B02960746
	HSBC BANK PLC
	Hartford Life Insurance Company
	LC2
	(6,741,000)
	(5,067,210)
	 NA 
	LC2B02960746

	B06983645
	HSBC BANK PLC
	Hartford Life Insurance Company
	LC2
	(7,639,800)
	(5,745,130)
	 NA 
	LC2B06983645

	73474TAP5
	PORT MORROW ORE TRANSMISSION F
	Hartford Life Insurance Company
	LC2
	1,650
	1,467
	                        12 
	LC273474TAP5

	9128282A7
	TREASURY NOTE (OLD)
	Hartford Life Insurance Company
	LC2
	(4,187,600)
	(3,752,152)
	 NA 
	LC29128282A7

	362333AH9
	VERIZON FLORIDA LLC
	Hartford Life Insurance Company
	LC2
	(2,380,000)
	(2,183,650)
	 NA 
	LC2362333AH9

	026874DC8
	AMERICAN INTERNATIONAL GROUP INC
	Hartford Life Insurance Company
	LC2
	500
	450
	                          7 
	LC2026874DC8

	9128282D1
	TREASURY NOTE
	Hartford Life Insurance Company
	LC2
	(98,600)
	(91,790)
	 NA 
	LC29128282D1

	38379KGA0
	GNR_15-32       AG
	Hartford Life Insurance Company
	LC2
	(887,823)
	(828,842)
	 NA 
	LC238379KGA0

	665501AK8
	NORTHERN NATURAL GAS CO    144A
	Hartford Life Insurance Company
	LC2
	325
	307
	                          3 
	LC2665501AK8

	649322AC8
	NEW YORK  PRESBYTERIAN HOS
	Hartford Life Insurance Company
	LC2
	275
	257
	                          3 
	LC2649322AC8

	00507UAT8
	ACTAVIS FUNDING SCS
	Hartford Life Insurance Company
	LC2
	(6,794,500)
	(6,456,039)
	 NA 
	LC200507UAT8

	61166WAQ4
	MONSANTO COMPANY
	Hartford Life Insurance Company
	LC2
	700
	629
	                        12 
	LC261166WAQ4

	912828R69
	TREASURY NOTE
	Hartford Life Insurance Company
	LC2
	(58,000)
	(54,896)
	 NA 
	LC2912828R69

	38379RFE8
	GNR_16-14       HA
	Hartford Life Insurance Company
	LC2
	(885,936)
	(835,547)
	 NA 
	LC238379RFE8

	718172AW9
	PHILIP MORRIS INTERNATIONAL INC
	Hartford Life Insurance Company
	LC2
	750
	705
	                          7 
	LC2718172AW9

	83162CXP3
	SBAP_16-20B      1
	Hartford Life Insurance Company
	LC2
	(3,457,308)
	(3,303,102)
	 NA 
	LC283162CXP3

	36164QNA2
	GE CAPITAL INTERNATIONAL FUNDING C
	Hartford Life Insurance Company
	LC2
	165
	158
	                          0 
	LC236164QNA2

	3132WEB43
	Govt
	Hartford Life Insurance Company
	LC2
	(4,573,721)
	(4,415,317)
	 NA 
	LC23132WEB43

	3132WED25
	Govt
	Hartford Life Insurance Company
	LC2
	(5,142,671)
	(4,965,368)
	 NA 
	LC23132WED25

	3138WG5Q3
	Govt
	Hartford Life Insurance Company
	LC2
	(11,493,768)
	(11,101,670)
	 NA 
	LC23138WG5Q3

	3138WHFN7
	Govt
	Hartford Life Insurance Company
	LC2
	(3,288,084)
	(3,175,936)
	 NA 
	LC23138WHFN7

	3138WHER9
	Govt
	Hartford Life Insurance Company
	LC2
	(13,247,501)
	(12,795,821)
	 NA 
	LC23138WHER9

	3140F5QW6
	Govt
	Hartford Life Insurance Company
	LC2
	(2,669,387)
	(2,578,385)
	 NA 
	LC23140F5QW6

	3138WHFR8
	Govt
	Hartford Life Insurance Company
	LC2
	(11,006,191)
	(10,630,990)
	 NA 
	LC23138WHFR8

	3140F5MJ9
	Govt
	Hartford Life Insurance Company
	LC2
	(396,356)
	(382,846)
	 NA 
	LC23140F5MJ9

	151020AM6
	CELGENE CORPORATION
	Hartford Life Insurance Company
	LC2
	(6,428,025)
	(6,078,418)
	 NA 
	LC2151020AM6

	83162CXR9
	SBAP_16-20C      1
	Hartford Life Insurance Company
	LC2
	(3,142,969)
	(3,029,609)
	 NA 
	LC283162CXR9

	
								
	149123CB5
	CATERPILLAR INC
	Hartford Life Insurance Company
	LC2
	500
	482
	                          5 
	LC2149123CB5

	478160BU7
	JOHNSON & JOHNSON
	Hartford Life Insurance Company
	LC2
	(1,912,625)
	(1,855,418)
	 NA 
	LC2478160BU7

	17323CAE7
	CGCMT_15-GC27     A5
	Hartford Life Insurance Company
	LC2
	(8,560,000)
	(8,350,083)
	 NA 
	LC217323CAE7

	200474BC7
	COMM_15-LC19    A4
	Hartford Life Insurance Company
	LC2
	(4,280,000)
	(4,180,604)
	 NA 
	LC2200474BC7

	61764RBF4
	MSBAM_15-C20    A4
	Hartford Life Insurance Company
	LC2
	(6,420,000)
	(6,293,744)
	 NA 
	LC261764RBF4

	90320MAA3
	UPCB FINANCE IV LTD        144A
	Hartford Life Insurance Company
	LC2
	(1,052,000)
	(1,013,202)
	 NA 
	LC290320MAA3

	50076QAE6
	KRAFT FOODS GROUP INC
	Hartford Life Insurance Company
	LC2
	(1,103,000)
	(1,067,438)
	 NA 
	LC250076QAE6

	68389XBH7
	ORACLE CORPORATION
	Hartford Life Insurance Company
	LC2
	(4,294,445)
	(4,207,916)
	 NA 
	LC268389XBH7

	86960BAJ1
	SVENSKA HANDELSBANKEN AB MTN
	Hartford Life Insurance Company
	LC2
	750
	737
	                          3 
	LC286960BAJ1

	83162CWX7
	SBAP_15-20C      1
	Hartford Life Insurance Company
	LC2
	(2,962,485)
	(2,914,652)
	 NA 
	LC283162CWX7

	075887BG3
	BECTON DICKINSON AND COMPANY
	Hartford Life Insurance Company
	LC2
	650
	635
	                        14 
	LC2075887BG3

	BHM1DG0Q9
	GUADALUPE VALLEY ELECTRIC COOPERAT Prvt
	Hartford Life Insurance Company
	LC2
	(200,000)
	(196,621)
	 NA 
	LC2BHM1DG0Q9

	87165BAG8
	SYNCHRONY FINANCIAL
	Hartford Life Insurance Company
	LC2
	(3,964,350)
	(3,925,864)
	 NA 
	LC287165BAG8

	320276AB4
	FFML_06-FF9     1A
	Hartford Life Insurance Company
	LC2
	(22,295)
	(21,971)
	 NA 
	LC2320276AB4

	63939EAB9
	NAVSL_15-AA    A2A 144A
	Hartford Life Insurance Company
	LC2
	(3,745,000)
	(3,688,181)
	 NA 
	LC263939EAB9

	36251FAW6
	GSMS_15-GC28    A5
	Hartford Life Insurance Company
	LC2
	(4,226,500)
	(4,185,093)
	 NA 
	LC236251FAW6

	30288BAE5
	FREMF_15-K721      B 144A
	Hartford Life Insurance Company
	LC2
	775
	761
	                          2 
	LC230288BAE5

	617451DR7
	MSAC_06-HE1     A4
	Hartford Life Insurance Company
	LC2
	(37,122)
	(36,770)
	 NA 
	LC2617451DR7

	13976AAH3
	AFIN_16-3        D
	Hartford Life Insurance Company
	LC2
	500
	496
	                          0 
	LC213976AAH3

	32027NLR0
	FFML_04-FFH3    M1
	Hartford Life Insurance Company
	LC2
	(107,456)
	(106,850)
	 NA 
	LC232027NLR0

	63939GAD0
	NAVSL_15-2       B
	Hartford Life Insurance Company
	LC2
	250
	249
	                          0 
	LC263939GAD0

	20451PKN5
	COMPASS BANK
	Hartford Life Insurance Company
	LC2
	750
	746
	                          3 
	LC220451PKN5

	63939DAD7
	NAVSL_14-8       B
	Hartford Life Insurance Company
	LC2
	500
	498
	                          0 
	LC263939DAD7

	87246YAA4
	TIAA ASSET MANAGEMENT FINANCE COMP 144A
	Hartford Life Insurance Company
	LC2
	675
	674
	                          1 
	LC287246YAA4

	75406EAD3
	RASC_06-KS4     A4
	Hartford Life Insurance Company
	LC2
	(72,537)
	(72,324)
	 NA 
	LC275406EAD3

	00287YAR0
	ABBVIE INC
	Hartford Life Insurance Company
	LC2
	600
	595
	                          1 
	LC200287YAR0

	92922F4R6
	WAMU_05-AR13  A1B2
	Hartford Life Insurance Company
	LC2
	(21,093)
	(21,063)
	 NA 
	LC292922F4R6

	
								
	3137BJP64
	FHMS_K046       A2
	Hartford Life Insurance Company
	LC2
	(1,337,500)
	(1,339,381)
	 NA 
	LC23137BJP64

	931142DG5
	WAL-MART STORES INC
	Hartford Life Insurance Company
	LC2
	(3,282,225)
	(3,276,173)
	 NA 
	LC2931142DG5

	698525AA0
	PANOCHE ENERGY CENTER LLC  144A
	Hartford Life Insurance Company
	LC2
	29,580
	30,291
	                     487 
	LC2698525AA0

	80556UAA1
	SAST_06-1       A1
	Hartford Life Insurance Company
	LC2
	(2,155,348)
	(2,154,458)
	 NA 
	LC280556UAA1

	00764MGF8
	AABST_05-4     2A2
	Hartford Life Insurance Company
	LC2
	(3,175,961)
	(3,175,363)
	 NA 
	LC200764MGF8

	76112BWJ5
	RAMP_05-RZ2     M3
	Hartford Life Insurance Company
	LC2
	(659,516)
	(659,695)
	 NA 
	LC276112BWJ5

	04541GUN0
	ABSHE_05-HE8    M1
	Hartford Life Insurance Company
	LC2
	(393,794)
	(393,914)
	 NA 
	LC204541GUN0

	59020UG90
	MLMI_05-AR1     M1
	Hartford Life Insurance Company
	LC2
	(51,634)
	(51,653)
	 NA 
	LC259020UG90

	86358EUV6
	SAIL_05-HE1     M1
	Hartford Life Insurance Company
	LC2
	(131,850)
	(132,006)
	 NA 
	LC286358EUV6

	03072SJ89
	AMSI_05-R7      M1
	Hartford Life Insurance Company
	LC2
	(723,353)
	(724,291)
	 NA 
	LC203072SJ89

	753910AD0
	RASC_05-KS12    M1
	Hartford Life Insurance Company
	LC2
	(200,875)
	(201,208)
	 NA 
	LC2753910AD0

	3137BLAC2
	FHMS_K048       A2
	Hartford Life Insurance Company
	LC2
	(1,070,000)
	(1,075,231)
	 NA 
	LC23137BLAC2

	260543CL5
	DOW CHEMICAL COMPANY (THE)
	Hartford Life Insurance Company
	LC2
	565
	559
	                          4 
	LC2260543CL5

	35729PHM5
	FHLT_05-A       M2
	Hartford Life Insurance Company
	LC2
	(188,369)
	(188,753)
	 NA 
	LC235729PHM5

	90131HAL9
	21ST CENTURY FOX AMERICA INC
	Hartford Life Insurance Company
	LC2
	(5,965,250)
	(5,965,250)
	 NA 
	LC290131HAL9

	456606GU0
	INABS_05-B      M2
	Hartford Life Insurance Company
	LC2
	(562,340)
	(562,162)
	 NA 
	LC2456606GU0

	BHM0MN8Z8
	HTFD GAEDEKE PO   PN Prvt
	Hartford Life Insurance Company
	LC2
	(481,209)
	(482,031)
	 NA 
	LC2BHM0MN8Z8

	29445FBH0
	EMLT_04-2       M1
	Hartford Life Insurance Company
	LC2
	(332,718)
	(333,566)
	 NA 
	LC229445FBH0

	65536HBE7
	NHELI_05-HE1    M3
	Hartford Life Insurance Company
	LC2
	(27,268)
	(27,340)
	 NA 
	LC265536HBE7

	30711XAE4
	CAS_14-C02     1M1
	Hartford Life Insurance Company
	LC2
	(3,114,156)
	(3,121,900)
	 NA 
	LC230711XAE4

	35729PJE1
	FHLT_05-1       M4
	Hartford Life Insurance Company
	LC2
	(32,942)
	(33,036)
	 NA 
	LC235729PJE1

	70069FCW5
	PPSI_04-MHQ1    M2
	Hartford Life Insurance Company
	LC2
	(3,179,876)
	(3,192,481)
	 NA 
	LC270069FCW5

	30711XAA2
	CAS_13-C01      M1
	Hartford Life Insurance Company
	LC2
	(3,245,391)
	(3,260,852)
	 NA 
	LC230711XAA2

	00764MCS4
	AABST_04-4     A2B
	Hartford Life Insurance Company
	LC2
	(184,950)
	(186,051)
	 NA 
	LC200764MCS4

	42770XAC1
	HERO_16-3A      A2 144A
	Hartford Life Insurance Company
	LC2
	(88,958)
	(89,953)
	 NA 
	LC242770XAC1

	20030NBQ3
	COMCAST CORP
	Hartford Life Insurance Company
	LC2
	625
	600
	                          8 
	LC220030NBQ3

	30711XAC8
	CAS_14-C01      M1
	Hartford Life Insurance Company
	LC2
	(2,303,685)
	(2,320,500)
	 NA 
	LC230711XAC8

	
								
	31298FJL7
	Govt
	Hartford Life Insurance Company
	LC2
	(23)
	(23)
	 NA 
	LC231298FJL7

	12625CAL7
	COMM_13-WWP      C 144A
	Hartford Life Insurance Company
	LC2
	(1,337,500)
	(1,357,685)
	 NA 
	LC212625CAL7

	26442RAD3
	DUKE ENERGY PROGRESS INC
	Hartford Life Insurance Company
	LC2
	525
	529
	                        11 
	LC226442RAD3

	BHM0JB0A1
	HTFD AMB INDUST   PN Prvt
	Hartford Life Insurance Company
	LC2
	(262,019)
	(267,100)
	 NA 
	LC2BHM0JB0A1

	91412GXY6
	UNIVERSITY CALIF REVS FOR PREV
	Hartford Life Insurance Company
	LC2
	2,425
	2,470
	                          3 
	LC291412GXY6

	3137G0FT1
	STACR_15-DNA2   M2
	Hartford Life Insurance Company
	LC2
	(1,886,508)
	(1,930,530)
	 NA 
	LC23137G0FT1

	BHM0JEJL1
	HTFD REGENCY PO   PN Prvt
	Hartford Life Insurance Company
	LC2
	(647,103)
	(662,037)
	 NA 
	LC2BHM0JEJL1

	12189TBC7
	BURLINGTON NORTHERN SANTA FE CORP
	Hartford Life Insurance Company
	LC2
	2,500
	2,562
	                        18 
	LC212189TBC7

	501044BM2
	KROGER CO. (THE)
	Hartford Life Insurance Company
	LC2
	600
	614
	                        18 
	LC2501044BM2

	31298F2A9
	Govt
	Hartford Life Insurance Company
	LC2
	(22)
	(22)
	 NA 
	LC231298F2A9

	82967NAS7
	SIRIUS XM RADIO INC        144A
	Hartford Life Insurance Company
	LC2
	(909,000)
	(928,316)
	 NA 
	LC282967NAS7

	3137G0AL3
	STACR_14-DN1    M2
	Hartford Life Insurance Company
	LC2
	(3,745,000)
	(3,856,421)
	 NA 
	LC23137G0AL3

	89152UAD4
	TOTAL CAPITAL SA
	Hartford Life Insurance Company
	LC2
	450
	464
	                          8 
	LC289152UAD4

	87243QAB2
	TENET HEALTHCARE CORPORATION
	Hartford Life Insurance Company
	LC2
	(2,801,000)
	(2,891,220)
	 NA 
	LC287243QAB2

	BHM0JEHH2
	HTFD REGENCY PO   PN Prvt
	Hartford Life Insurance Company
	LC2
	(203,623)
	(210,588)
	 NA 
	LC2BHM0JEHH2

	09247XAE1
	BLACKROCK INC
	Hartford Life Insurance Company
	LC2
	6,270
	6,471
	                     145 
	LC209247XAE1

	83162CSL8
	SBAP_09-20D      1
	Hartford Life Insurance Company
	LC2
	145
	150
	                          1 
	LC283162CSL8

	651229AY2
	NEWELL RUBBERMAID INC
	Hartford Life Insurance Company
	LC2
	(60)
	(61)
	 NA 
	LC2651229AY2

	3137G0GT0
	STACR_15-DNA3   M2
	Hartford Life Insurance Company
	LC2
	(1,284,000)
	(1,331,865)
	 NA 
	LC23137G0GT0

	45326TAA6
	INCITEC PIVOT FINANCE LLC  144A
	Hartford Life Insurance Company
	LC2
	550
	571
	                        15 
	LC245326TAA6

	BHM0J5AM7
	HTFD 840 FIRST    PN Prvt
	Hartford Life Insurance Company
	LC2
	(267,490)
	(278,241)
	 NA 
	LC2BHM0J5AM7

	375558BG7
	GILEAD SCIENCES INC
	Hartford Life Insurance Company
	LC2
	750
	773
	                          8 
	LC2375558BG7

	651290AP3
	NEWFIELD EXPLORATION COMPANY
	Hartford Life Insurance Company
	LC2
	(1,989,000)
	(2,078,505)
	 NA 
	LC2651290AP3

	454889AQ9
	INDIANA MICHIGAN POWER COMPANY
	Hartford Life Insurance Company
	LC2
	550
	574
	                          5 
	LC2454889AQ9

	350910AN5
	FTST_06-4TS      A 144A
	Hartford Life Insurance Company
	LC2
	(11,094)
	(11,662)
	 NA 
	LC2350910AN5

	58013MEZ3
	MCDONALDS CORPORATION MTN
	Hartford Life Insurance Company
	LC2
	535
	563
	                        12 
	LC258013MEZ3

	585055BU9
	MEDTRONIC INC
	Hartford Life Insurance Company
	LC2
	300
	322
	                          3 
	LC2585055BU9

	
								
	84861AAA7
	SPMF_14-3A       A 144A
	Hartford Life Insurance Company
	LC2
	(4,672)
	(4,942)
	 NA 
	LC284861AAA7

	775109BB6
	ROGERS COMMUNICATIONS INC.
	Hartford Life Insurance Company
	LC2
	445
	463
	                          4 
	LC2775109BB6

	BHM01J6D1
	WELLS FARGO-WACHOVIA BANK  Prvt
	Hartford Life Insurance Company
	LC2
	(2,623,297)
	(2,779,515)
	 NA 
	LC2BHM01J6D1

	B0A0A7ZT0
	EIRE JACKSONVILE FLA LLC LEASE BA Prvt
	Hartford Life Insurance Company
	LC2
	(2,127,816)
	(2,257,054)
	 NA 
	LC2B0A0A7ZT0

	126650AY6
	WELLS FARGO BANK NW (CVS 02 CTL) S Prvt
	Hartford Life Insurance Company
	LC2
	(4,896)
	(5,214)
	 NA 
	LC2126650AY6

	88160QAM5
	TESORO LOGISTICS LP
	Hartford Life Insurance Company
	LC2
	(179,000)
	(191,219)
	 NA 
	LC288160QAM5

	126117AR1
	CNA FINANCIAL CORP
	Hartford Life Insurance Company
	LC2
	(2,703,890)
	(2,878,707)
	 NA 
	LC2126117AR1

	539830BL2
	LOCKHEED MARTIN CORPORATION
	Hartford Life Insurance Company
	LC2
	(2,140,000)
	(2,251,481)
	 NA 
	LC2539830BL2

	31383MQB2
	Govt
	Hartford Life Insurance Company
	LC2
	(249)
	(266)
	 NA 
	LC231383MQB2

	126650BP4
	CVS PASSTHROUGH TRUST
	Hartford Life Insurance Company
	LC2
	(14,732)
	(15,763)
	 NA 
	LC2126650BP4

	75405UAA4
	RAS LNG 3         144A
	Hartford Life Insurance Company
	LC2
	(10,833,750)
	(11,440,440)
	 NA 
	LC275405UAA4

	878091BD8
	TEACHERS INSURANCE AND ANNUITY 144A
	Hartford Life Insurance Company
	LC2
	25
	27
	                          0 
	LC2878091BD8

	58013MEK6
	MCDONALDS CORPORATION
	Hartford Life Insurance Company
	LC2
	575
	609
	                        10 
	LC258013MEK6

	73358WJA3
	PORT AUTHORITY OF NEW YORK AND NEW
	Hartford Life Insurance Company
	LC2
	2,500
	2,663
	                        17 
	LC273358WJA3

	68241FAA0
	OLCMT_04-C3     A1 144A
	Hartford Life Insurance Company
	LC2
	(89,968)
	(97,143)
	 NA 
	LC268241FAA0

	30161NAQ4
	EXELON CORPORATION
	Hartford Life Insurance Company
	LC2
	175
	188
	                          4 
	LC230161NAQ4

	24820RAB4
	STATOIL ASA       144A
	Hartford Life Insurance Company
	LC2
	(2,140,000)
	(2,340,982)
	 NA 
	LC224820RAB4

	65473QBB8
	NISOURCE FINANCE CORPORATION
	Hartford Life Insurance Company
	LC2
	8,840
	9,715
	                     130 
	LC265473QBB8

	31292GTN6
	Govt
	Hartford Life Insurance Company
	LC2
	(451)
	(495)
	 NA 
	LC231292GTN6

	030288AB0
	AMERICAN TRANSMISSION SYSTEMS INC 144A
	Hartford Life Insurance Company
	LC2
	500
	543
	                          6 
	LC2030288AB0

	458140AK6
	INTEL CORPORATION
	Hartford Life Insurance Company
	LC2
	(9,737,000)
	(10,769,911)
	 NA 
	LC2458140AK6

	31292GY59
	Govt
	Hartford Life Insurance Company
	LC2
	(89)
	(98)
	 NA 
	LC231292GY59

	293791AT6
	ENTERPRISE PRODUCTS OPERATING  LLC
	Hartford Life Insurance Company
	LC2
	500
	544
	                          7 
	LC2293791AT6

	BHM0K4486
	MERRITT INDUSTR   PN Prvt
	Hartford Life Insurance Company
	LC2
	(21,612,732)
	(23,842,922)
	 NA 
	LC2BHM0K4486

	761713BA3
	REYNOLDS AMERICAN INC
	Hartford Life Insurance Company
	LC2
	900
	978
	                        14 
	LC2761713BA3

	487312AA8
	KEENAN FT  DETRICK ENERGY 144A
	Hartford Life Insurance Company
	LC2
	(202,373)
	(223,850)
	 NA 
	LC2487312AA8

	207758KM4
	CONNECTICUT ST SPL TAX OBLIG
	Hartford Life Insurance Company
	LC2
	4,350
	4,825
	                        16 
	LC2207758KM4

	
								
	478375AJ7
	JOHNSON CONTROLS INTERNATIONAL PLC
	Hartford Life Insurance Company
	LC2
	100
	111
	                          1 
	LC2478375AJ7

	912810RD2
	TREASURY BOND
	Hartford Life Insurance Company
	LC2
	50
	56
	                          0 
	LC2912810RD2

	458140AT7
	INTEL CORPORATION
	Hartford Life Insurance Company
	LC2
	(1,901,925)
	(2,137,178)
	 NA 
	LC2458140AT7

	010392FF0
	ALABAMA POWER COMPANY
	Hartford Life Insurance Company
	LC2
	800
	900
	                        20 
	LC2010392FF0

	761713BB1
	REYNOLDS AMERICAN INC
	Hartford Life Insurance Company
	LC2
	825
	913
	                        14 
	LC2761713BB1

	74456QAP1
	PUBLIC SERVICE ELECTRIC AND GAS CO MTN
	Hartford Life Insurance Company
	LC2
	300
	340
	                          6 
	LC274456QAP1

	893526DF7
	TRANSCANADA PIPELINES LTD
	Hartford Life Insurance Company
	LC2
	75
	83
	                          1 
	LC2893526DF7

	725906AH4
	PLACER DOME INC
	Hartford Life Insurance Company
	LC2
	300
	344
	                          5 
	LC2725906AH4

	546676AU1
	LOUISVILLE GAS & ELECTRIC CO
	Hartford Life Insurance Company
	LC2
	100
	113
	                          0 
	LC2546676AU1

	373334JR3
	GEORGIA POWER COMPANY
	Hartford Life Insurance Company
	LC2
	(7,056,650)
	(8,185,418)
	 NA 
	LC2373334JR3

	575767AJ7
	MASSACHUSETTS MUTUAL LIFE INSURANC 144A
	Hartford Life Insurance Company
	LC2
	290
	330
	                          8 
	LC2575767AJ7

	907834AG0
	ANADARKO HOLDING CO
	Hartford Life Insurance Company
	LC2
	500
	575
	                          1 
	LC2907834AG0

	539830AU3
	LOCKHEED MARTIN CORP
	Hartford Life Insurance Company
	LC2
	(5,350,000)
	(6,142,843)
	 NA 
	LC2539830AU3

	94973VAL1
	ANTHEM INC
	Hartford Life Insurance Company
	LC2
	(27,285,000)
	(30,889,539)
	 NA 
	LC294973VAL1

	65473QAZ6
	NISOURCE FINANCE CORPORATION
	Hartford Life Insurance Company
	LC2
	585
	669
	                        11 
	LC265473QAZ6

	63618EAR2
	NATIONAL FUEL GAS COMPANY MTN
	Hartford Life Insurance Company
	LC2
	(2,675,000)
	(3,073,061)
	 NA 
	LC263618EAR2

	134429AG4
	CAMPBELL SOUP CO
	Hartford Life Insurance Company
	LC2
	750
	859
	                          5 
	LC2134429AG4

	283695AZ7
	EL PASO NATURAL GAS COMPANY
	Hartford Life Insurance Company
	LC2
	500
	578
	                        16 
	LC2283695AZ7

	767201AL0
	RIO TINTO FINANCE (USA) LIMITED
	Hartford Life Insurance Company
	LC2
	375
	431
	                          1 
	LC2767201AL0

	73358WEK6
	PORT AUTH N Y & N J
	Hartford Life Insurance Company
	LC2
	1,250
	1,458
	                          9 
	LC273358WEK6

	29379VAT0
	ENTERPRISE PRODUCTS OPERATING LLC
	Hartford Life Insurance Company
	LC2
	500
	581
	                        10 
	LC229379VAT0

	89417EAH2
	TRAVELERS CO INC
	Hartford Life Insurance Company
	LC2
	150
	174
	                          1 
	LC289417EAH2

	669771AS6
	NOVA GAS TRANSMISSION LTD
	Hartford Life Insurance Company
	LC2
	125
	146
	                          2 
	LC2669771AS6

	740816AH6
	PRESIDENT & FELLOWS OF HARVARD
	Hartford Life Insurance Company
	LC2
	650
	755
	                          4 
	LC2740816AH6

	68233JAH7
	ONCOR ELECTRIC DELIVERY CO LLC
	Hartford Life Insurance Company
	LC2
	825
	962
	                          7 
	LC268233JAH7

	74432QAC9
	PRUDENTIAL FINANCIAL INC. MTN
	Hartford Life Insurance Company
	LC2
	(15,247,500)
	(17,713,021)
	 NA 
	LC274432QAC9

	001192AH6
	AGL CAPITAL CORPORATION
	Hartford Life Insurance Company
	LC2
	900
	1,049
	                        10 
	LC2001192AH6

	
								
	931142CB7
	WAL-MART STORES INC
	Hartford Life Insurance Company
	LC2
	(8,025,000)
	(9,392,476)
	 NA 
	LC2931142CB7

	049560AK1
	ATMOS ENERGY CORPORATION
	Hartford Life Insurance Company
	LC2
	700
	819
	                        17 
	LC2049560AK1

	65473QAX1
	NISOURCE FINANCE CORPORATION
	Hartford Life Insurance Company
	LC2
	950
	1,108
	                        25 
	LC265473QAX1

	914440LJ9
	UNIVERSITY MASS BLDG AUTH PROJ REV
	Hartford Life Insurance Company
	LC2
	2,350
	2,786
	                          9 
	LC2914440LJ9

	907834AB1
	ANADARKO HOLDING CO
	Hartford Life Insurance Company
	LC2
	625
	742
	                          5 
	LC2907834AB1

	172967BL4
	CITIGROUP INC
	Hartford Life Insurance Company
	LC2
	265
	315
	                          8 
	LC2172967BL4

	771367BX6
	ROCHESTER GAS & ELECTRIC
	Hartford Life Insurance Company
	LC2
	500
	595
	                          8 
	LC2771367BX6

	291011AQ7
	EMERSON ELECTRIC CO
	Hartford Life Insurance Company
	LC2
	500
	592
	                          8 
	LC2291011AQ7

	656531AC4
	STATOILHYDRO ASA
	Hartford Life Insurance Company
	LC2
	125
	150
	                          4 
	LC2656531AC4

	BHM0GBW01
	CVS CAREMARK CTL 9-2009    Prvt
	Hartford Life Insurance Company
	LC2
	38,203
	45,789
	                     134 
	LC2BHM0GBW01

	694308GM3
	PACIFIC GAS & ELECTRIC CO
	Hartford Life Insurance Company
	LC2
	680
	814
	                        12 
	LC2694308GM3

	38141GGM0
	GOLDMAN SACHS GROUP INC
	Hartford Life Insurance Company
	LC2
	875
	1,049
	                        17 
	LC238141GGM0

	207597CZ6
	CONNECTICUT LIGHT AND POWER CO
	Hartford Life Insurance Company
	LC2
	500
	603
	                          6 
	LC2207597CZ6

	91324PBN1
	UNITEDHEALTH GROUP INC
	Hartford Life Insurance Company
	LC2
	630
	761
	                          4 
	LC291324PBN1

	49306CAB7
	KEYBANK NATIONAL ASSOCIATION
	Hartford Life Insurance Company
	LC2
	515
	622
	                        11 
	LC249306CAB7

	38141GFD1
	GOLDMAN SACHS GROUP INC
	Hartford Life Insurance Company
	LC2
	(6,259,500)
	(7,562,603)
	 NA 
	LC238141GFD1

	373334JN2
	GEORGIA POWER COMPANY
	Hartford Life Insurance Company
	LC2
	(5,350,000)
	(6,667,528)
	 NA 
	LC2373334JN2

	126659AA9
	CVS PASSTHROUGH TRUST      144A
	Hartford Life Insurance Company
	LC2
	(15,313)
	(18,605)
	 NA 
	LC2126659AA9

	773903AB5
	ROCKWELL AUTOMATION INC
	Hartford Life Insurance Company
	LC2
	250
	302
	                          6 
	LC2773903AB5

	084664BL4
	BERKSHIRE HATHAWAY FINANCE CORP
	Hartford Life Insurance Company
	LC2
	990
	1,199
	                        21 
	LC2084664BL4

	17248RAJ5
	CINGULAR WIRELESS LLC
	Hartford Life Insurance Company
	LC2
	(10,763,130)
	(12,939,306)
	 NA 
	LC217248RAJ5

	74531EAA0
	PUGET SOUND ENERGY INC MTN
	Hartford Life Insurance Company
	LC2
	500
	611
	                          7 
	LC274531EAA0

	539830AR0
	LOCKHEED MARTIN CORP
	Hartford Life Insurance Company
	LC2
	(5,885,000)
	(7,281,893)
	 NA 
	LC2539830AR0

	73358WCX0
	PORT AUTH N Y & N J
	Hartford Life Insurance Company
	LC2
	1,925
	2,374
	                          8 
	LC273358WCX0

	87612EAK2
	TARGET CORPORATION
	Hartford Life Insurance Company
	LC2
	(6,168,550)
	(7,599,179)
	 NA 
	LC287612EAK2

	79765RSV2
	SAN FRANCISCO CALIF CITY & CNTY PU
	Hartford Life Insurance Company
	LC2
	1,700
	2,101
	                          7 
	LC279765RSV2

	88579EAC9
	3M CO MTN
	Hartford Life Insurance Company
	LC2
	(6,473,500)
	(7,950,274)
	 NA 
	LC288579EAC9

	
								
	73358WCW2
	PORT AUTHORITY OF NEW YORK & NEW J
	Hartford Life Insurance Company
	LC2
	4,975
	6,135
	                        20 
	LC273358WCW2

	575634AS9
	MASSACHUSETTS ELECTRIC COMPANY 144A
	Hartford Life Insurance Company
	LC2
	875
	1,085
	                          2 
	LC2575634AS9

	91324PBQ4
	UNITEDHEALTH GROUP INC
	Hartford Life Insurance Company
	LC2
	850
	1,045
	                        14 
	LC291324PBQ4

	87973PAB0
	TEMASEK FINANCIAL I LTD    144A
	Hartford Life Insurance Company
	LC2
	220
	276
	                          0 
	LC287973PAB0

	136385AC5
	CANADIAN NATURAL RESOURCES LTD
	Hartford Life Insurance Company
	LC2
	675
	842
	                        18 
	LC2136385AC5

	28368EAE6
	KINDER MORGAN INC
	Hartford Life Insurance Company
	LC2
	750
	930
	                        21 
	LC228368EAE6

	17305EDT9
	CCCIT_07-A3     A3
	Hartford Life Insurance Company
	LC2
	450
	564
	                        12 
	LC217305EDT9

	668131AA3
	NORTHWESTERN MUTUAL LIFE INSURANCE 144A
	Hartford Life Insurance Company
	LC2
	1,500
	1,874
	                        14 
	LC2668131AA3

	268789AB0
	E.ON INTERNATIONAL FINANCE B.V. 144A
	Hartford Life Insurance Company
	LC2
	70
	88
	                          0 
	LC2268789AB0

	58013MEF7
	MCDONALDS CORPORATION MTN
	Hartford Life Insurance Company
	LC2
	975
	1,223
	                        15 
	LC258013MEF7

	19633SAB9
	COLORADO BRIDGE ENTERPRISE
	Hartford Life Insurance Company
	LC2
	3,550
	4,474
	                     105 
	LC219633SAB9

	797440BJ2
	SAN DIEGO GAS & ELEC
	Hartford Life Insurance Company
	LC2
	385
	485
	                          5 
	LC2797440BJ2

	437076AV4
	HOME DEPOT INC
	Hartford Life Insurance Company
	LC2
	775
	967
	                          7 
	LC2437076AV4

	58013MEC4
	MCDONALDS CORPORATION
	Hartford Life Insurance Company
	LC2
	125
	155
	                          1 
	LC258013MEC4

	91412GDZ5
	UNIVERSITY CALIF REVS
	Hartford Life Insurance Company
	LC2
	2,625
	3,305
	                          5 
	LC291412GDZ5

	0010EPAF5
	AEP TEXAS CENTRAL CO
	Hartford Life Insurance Company
	LC2
	750
	947
	                        14 
	LC20010EPAF5

	64966HYV6
	NEW YORK N Y
	Hartford Life Insurance Company
	LC2
	2,500
	3,135
	                        71 
	LC264966HYV6

	69351UAM5
	PPL ELECTRIC UTILITIES CORPORATION
	Hartford Life Insurance Company
	LC2
	750
	950
	                          1 
	LC269351UAM5

	89837LAB1
	PRINCETON UNIVERSITY
	Hartford Life Insurance Company
	LC2
	80
	102
	                          1 
	LC289837LAB1

	63946BAF7
	NBCUNIVERSAL MEDIA LLC
	Hartford Life Insurance Company
	LC2
	225
	280
	                          1 
	LC263946BAF7

	677415CF6
	OHIO POWER COMPANY
	Hartford Life Insurance Company
	LC2
	500
	638
	                          9 
	LC2677415CF6

	759136QP2
	REGIONAL TRANSN DIST COLO
	Hartford Life Insurance Company
	LC2
	3,550
	4,562
	                        14 
	LC2759136QP2

	00817YAG3
	AETNA INC
	Hartford Life Insurance Company
	LC2
	500
	644
	                        15 
	LC200817YAG3

	98389BAH3
	XCEL ENERGY INC
	Hartford Life Insurance Company
	LC2
	150
	194
	                          4 
	LC298389BAH3

	02765UCR3
	AMERICAN MUN PWR-OHIO INC
	Hartford Life Insurance Company
	LC2
	675
	874
	                        11 
	LC202765UCR3

	244199BA2
	DEERE & CO
	Hartford Life Insurance Company
	LC2
	500
	653
	                          8 
	LC2244199BA2

	377372AE7
	GLAXOSMITHKLINE CAPITAL INC
	Hartford Life Insurance Company
	LC2
	500
	652
	                          1 
	LC2377372AE7

	
								
	251799AA0
	DEVON ENERGY CORP
	Hartford Life Insurance Company
	LC2
	(8,517,735)
	(11,065,858)
	 NA 
	LC2251799AA0

	22541LAE3
	CREDIT SUISSE (USA) INC
	Hartford Life Insurance Company
	LC2
	500
	646
	                        13 
	LC222541LAE3

	91324PAX0
	UNITEDHEALTH GROUP INC
	Hartford Life Insurance Company
	LC2
	875
	1,138
	                        25 
	LC291324PAX0

	167725AC4
	CHICAGO ILL TRANSIT AUTH
	Hartford Life Insurance Company
	LC2
	2,500
	3,253
	                        84 
	LC2167725AC4

	677347CE4
	OHIO EDISON COMPANY
	Hartford Life Insurance Company
	LC2
	900
	1,184
	                        23 
	LC2677347CE4

	25468PBW5
	WALT DISNEY CO
	Hartford Life Insurance Company
	LC2
	250
	326
	                          4 
	LC225468PBW5

	822582AD4
	SHELL INTERNATIONAL FINANCE BV
	Hartford Life Insurance Company
	LC2
	125
	164
	                          4 
	LC2822582AD4

	826418BE4
	SIERRA PACIFIC POWER CO
	Hartford Life Insurance Company
	LC2
	470
	619
	                        13 
	LC2826418BE4

	961548AY0
	MEADWESTVACO CORP
	Hartford Life Insurance Company
	LC2
	550
	733
	                        12 
	LC2961548AY0

	59259YDC0
	METROPOLITAN TRANSN AUTH N Y
	Hartford Life Insurance Company
	LC2
	1,975
	2,629
	                          4 
	LC259259YDC0

	68389XAE5
	ORACLE CORPORATION
	Hartford Life Insurance Company
	LC2
	855
	1,123
	                          6 
	LC268389XAE5

	887315AZ2
	HISTORIC TW INC
	Hartford Life Insurance Company
	LC2
	(13,535,500)
	(18,012,340)
	 NA 
	LC2887315AZ2

	89352HAE9
	TRANSCANADA PIPELINES LTD
	Hartford Life Insurance Company
	LC2
	355
	459
	                          7 
	LC289352HAE9

	878091BC0
	TEACHERS INSURANCE AND ANNUITY 144A
	Hartford Life Insurance Company
	LC2
	(9,014,000)
	(11,775,196)
	 NA 
	LC2878091BC0

	141781AF1
	CARGILL INC       144A
	Hartford Life Insurance Company
	LC2
	525
	701
	                          3 
	LC2141781AF1

	744448CA7
	PUBLIC SERVICE COMPANY OF COLORADO
	Hartford Life Insurance Company
	LC2
	495
	655
	                        10 
	LC2744448CA7

	91913YAB6
	VALERO ENERGY CORP MTN
	Hartford Life Insurance Company
	LC2
	300
	400
	                        12 
	LC291913YAB6

	961548AV6
	MEADWESTVACO CORP
	Hartford Life Insurance Company
	LC2
	475
	633
	                        14 
	LC2961548AV6

	209111EU3
	CONSOLIDATED EDISON CO OF NEW YORK
	Hartford Life Insurance Company
	LC2
	500
	666
	                          5 
	LC2209111EU3

	77509NAF0
	ROGERS COMMUNICATIONS INC.
	Hartford Life Insurance Company
	LC2
	950
	1,271
	                          6 
	LC277509NAF0

	59259YGF0
	METROPOLITAN TRANSN AUTH N Y REV F
	Hartford Life Insurance Company
	LC2
	925
	1,241
	                          2 
	LC259259YGF0

	494368BC6
	KIMBERLY-CLARK CORPORATION
	Hartford Life Insurance Company
	LC2
	615
	824
	                        13 
	LC2494368BC6

	072024NU2
	BAY AREA TOLL AUTH CALIF TOLL BRDG
	Hartford Life Insurance Company
	LC2
	1,700
	2,330
	                        18 
	LC2072024NU2

	244199AZ8
	DEERE & CO
	Hartford Life Insurance Company
	LC2
	275
	375
	                          1 
	LC2244199AZ8

	931142BF9
	WAL-MART STORES INC
	Hartford Life Insurance Company
	LC2
	(16,050,000)
	(21,948,776)
	 NA 
	LC2931142BF9

	401378AA2
	GUARDIAN LIFE INSURANCE CO OF AMER 144A
	Hartford Life Insurance Company
	LC2
	(7,579,345)
	(10,475,966)
	 NA 
	LC2401378AA2

	13063A5E0
	CALIFORNIA ST
	Hartford Life Insurance Company
	LC2
	1,600
	2,262
	                        18 
	LC213063A5E0

	
								
	717081CY7
	PFIZER INC.
	Hartford Life Insurance Company
	LC2
	125
	176
	                          2 
	LC2717081CY7

	702274AW1
	PASADENA CALIF PUB FING AUTH L
	Hartford Life Insurance Company
	LC2
	4,250
	6,025
	                        72 
	LC2702274AW1

	646139X83
	NEW JERSEY ST TPK AUTH TPK REV
	Hartford Life Insurance Company
	LC2
	500
	703
	                        14 
	LC2646139X83

	646139W35
	NEW JERSEY ST TPK AUTH
	Hartford Life Insurance Company
	LC2
	950
	1,382
	                        28 
	LC2646139W35

	655855FB5
	NORFOLK SOUTHERN RAILWAY CO
	Hartford Life Insurance Company
	LC2
	500
	716
	                          1 
	LC2655855FB5

	13063A5G5
	STATE OF CALIFORNIA
	Hartford Life Insurance Company
	LC2
	1,500
	2,226
	                        17 
	LC213063A5G5

	02765UEK6
	AMERICAN MUN PWR OHIO INC
	Hartford Life Insurance Company
	LC2
	500
	805
	                        11 
	LC202765UEK6

	205944AB7
	CON-WAY INC
	Hartford Life Insurance Company
	LC2
	(17,000,000)
	(17,370,600)
	 NA 
	LC2205944AB7

	22404QAF5
	COX COMMUNICATIONS INC MTN
	Hartford Life Insurance Company
	LC2
	(2,675,000)
	(2,675,000)
	 NA 
	LC222404QAF5

	17305EDY8
	CCCIT_07-A8     A8
	Hartford Life Insurance Company
	LC2
	(3,576,475)
	(3,576,475)
	 NA 
	LC217305EDY8

	BHM12L080
	TRANSDIGM INC    TL-C Prvt
	Hartford Life Insurance Company
	LC2
	(2,664,546)
	(2,664,546)
	 NA 
	LC2BHM12L080

	48123VAB8
	J2 GLOBAL INC
	Hartford Life Insurance Company
	LC2
	(1,896,000)
	(1,933,920)
	 NA 
	LC248123VAB8

	78443CAZ7
	SLMA_03-C       A2
	Hartford Life Insurance Company
	LC2
	(850,471)
	(850,471)
	 NA 
	LC278443CAZ7

	BHM0K2BG4
	HTFD ORCHARD GL   PN Prvt
	Hartford Life Insurance Company
	LC2
	(28,403,799)
	(29,610,960)
	 NA 
	LC2BHM0K2BG4

	22533WAC3
	CAALT_15-1A      B 144A
	Hartford Life Insurance Company
	LC2
	(1,070,000)
	(1,070,000)
	 NA 
	LC222533WAC3

	20605PAE1
	CONCHO RESOURCES INC
	Hartford Life Insurance Company
	LC2
	(2,531,000)
	(2,600,603)
	 NA 
	LC220605PAE1

	3137G0AC3
	STACR_13-DN2    M1
	Hartford Life Insurance Company
	LC2
	(1,563,669)
	(1,563,669)
	 NA 
	LC23137G0AC3

	69689XAC4
	PSTAT_16-3A     A2 144A
	Hartford Life Insurance Company
	LC2
	(3,156,500)
	(3,156,500)
	 NA 
	LC269689XAC4

	69689XAE0
	PSTAT_16-3A      B 144A
	Hartford Life Insurance Company
	LC2
	(3,210,000)
	(3,210,000)
	 NA 
	LC269689XAE0

	19624MAE7
	CAH_14-2A        C 144A
	Hartford Life Insurance Company
	LC2
	(4,547,500)
	(4,547,500)
	 NA 
	LC219624MAE7

	31388QT66
	Govt
	Hartford Life Insurance Company
	LC2
	(3,266)
	(3,266)
	 NA 
	LC231388QT66

	03072SXY6
	AMSI_05-R1      M1
	Hartford Life Insurance Company
	LC2
	(1,083,676)
	(1,083,676)
	 NA 
	LC203072SXY6

	437084KS4
	HEAT_05-3       M3
	Hartford Life Insurance Company
	LC2
	(925,136)
	(925,136)
	 NA 
	LC2437084KS4

	542514NB6
	LBMLT_05-WL2    M1
	Hartford Life Insurance Company
	LC2
	(1,097,669)
	(1,097,669)
	 NA 
	LC2542514NB6

	46625MP52
	JPMCC_03-CB7     D
	Hartford Life Insurance Company
	LC2
	(1,485,086)
	(1,485,086)
	 NA 
	LC246625MP52

	173067EK1
	CGCMT_04-C2      D
	Hartford Life Insurance Company
	LC2
	(1,872,500)
	(1,872,500)
	 NA 
	LC2173067EK1

	17291CBX2
	CGCMT_16-C2     XB
	Hartford Life Insurance Company
	LC2
	(36,664,085)
	(2,256,674)
	 NA 
	LC217291CBX2Exhibit

Exhibit 10.02
THE USE OF THE FOLLOWING NOTATION IN THIS EXHIBIT INDICATES THAT THE CONFIDENTIAL PORTION HAS BEEN OMITTED PURSUANT TO A REQUEST FOR CONFIDENTIAL TREATMENT AND THE OMITTED MATERIAL HAS BEEN FILED SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION: [REDACTED]

ANNUITY REINSURANCE AGREEMENT 
 
between
HARTFORD LIFE AND ANNUITY INSURANCE COMPANY 
 
(the “Company”)
 
and 
 
COMMONWEALTH ANNUITY AND LIFE INSURANCE COMPANY
BRIGHTON, MASSACHUSETTS
(the “Reinsurer”)
 
Dated June 1, 2018 
 

TABLE OF CONTENTS
Page
		
	ARTICLE I
	DEFINITIONS                            1

		
	ARTICLE II
	COVERAGE                                15

		
	ARTICLE III
	ADMINISTRATION; GENERAL PROVISIONS            17

		
	ARTICLE IV
	     INITIAL PAYMENTS                        22

ARTICLE V        ADDITIONAL REINSURANCE PREMIUMS; EXPENSE
ALLOWANCE; COMMISSIONS                    25
		
	ARTICLE VI
	ACCOUNTING AND SETTLEMENT                26

		
	ARTICLE VII
	TERMINATION FOR NON-PAYMENT                28

		
	ARTICLE VIII
	RECAPTURE                                29

		
	ARTICLE IX
	TRUST ACCOUNT                            33

		
	ARTICLE X
	DURATION AND TERMINATION                    36

		
	ARTICLE XI
	INSOLVENCY                            37

		
	ARTICLE XII
	DISPUTE RESOLUTION REGARDING ADMINISTRATION    37

		
	ARTICLE XIII
	DAC TAX ELECTION                        39

		
	ARTICLE XIV
	CONFIDENTIALITY                            40

		
	ARTICLE XV
	REPRESENTATIONS AND COVENANTS                41

		
	ARTICLE XVI
	INDEMNIFICATION                            53

		
	ARTICLE XVII
	REINSURANCE CREDIT                        61

		
	ARTICLE XVIII
	MISCELLANEOUS PROVISIONS                    62

SCHEDULES

SCHEDULE 1.1(a)    -    INTERIM PERIOD INTEREST
SCHEDULE 1.1(b)    -    KNOWLEDGE OF THE COMPANY
SCHEDULE A    -    REINSURED CONTRACTS
SCHEDULE B    -    AMORTIZATION OF CEDING COMMISSION
SCHEDULE C    -    RECAPTURE PAYMENT FORMULA
SCHEDULE D    -    TERMINAL ACCOUNTING SETTLEMENT REPORT  
SCHEDULE E    -    EXPENSE ALLOWANCE
SCHEDULE F-1    -    MONTHLY REINSURANCE SETTLEMENT REPORT
SCHEDULE F-2    -    SERIATIM DATA REPORT 
SCHEDULE F-3    -    STATEMENT OF NAIC RESERVES
SCHEDULE G    -    ANNUAL FINANCIAL REPORTS
SCHEDULE H    -    ONGOING REPORTS
SCHEDULE I        -    INTEREST MAINTENANCE RESERVE 
SCHEDULE J        -    COMMISSIONS

EXHIBITS

EXHIBIT 1        -    TRUST AGREEMENT
EXHIBIT 2        -    FORM OF RETROCESSION TRUST AGREEMENT
		
	EXHIBIT 3
	-    INVESTMENT GUIDELINES

ANNEXES

		
	ANNEX A-1
	-    ASSETS IN CONNECTION WITH ESTIMATED INITIAL REINSURANCE PREMIUM PART A

		
	ANNEX B-1
	-    ASSETS IN CONNECTION WITH ESTIMATED INITIAL REINSURANCE PREMIUM PART B

ANNUITY REINSURANCE AGREEMENT
This Annuity Reinsurance Agreement, dated June 1, 2018 (this “Agreement”), is made and entered into by and between Hartford Life and Annuity Insurance Company, a life insurance company organized under the laws of Connecticut (the “Company”), and Commonwealth Annuity and Life Insurance Company, a life insurance company organized under the laws of the Commonwealth of Massachusetts (the “Reinsurer”).  
The Company agrees to cede and the Reinsurer agrees to accept liability under the terms and conditions stated herein.  This Agreement is an indemnity reinsurance agreement solely between the Company and the Reinsurer.  The Company shall be and shall remain the only party hereunder that is liable to any insured, contract holder, claimant or beneficiary under any annuity contract reinsured hereunder.

ARTICLE I
DEFINITIONS
1.1.    Definitions.  As used in this Agreement, the following terms shall have the following meanings (definitions are applicable to both the singular and the plural forms of each term defined in this Article):
“Account Value” means the account value, as defined in and determined in accordance with the express terms of the Reinsured Contracts hereunder, without regard to surrender charges.
“Action” means any claim, action, suit, litigation, arbitration, investigation, inquiry, hearing, charge, complaint, demand, notice or proceeding by or before any Governmental Authority or arbitrator or arbitration panel or similar Person or body.
“Actuarial Appraisal” shall have the meaning specified in Section 15.1(m)(i). 
“Actuarial Standards of Practice” means the actuarial standards of practice in effect as of the date of determination, as published by the Actuarial Standards Board, or any successor thereto.
“Additional Reports” shall have the meaning specified in Section 3.9(c).
“Affiliate” means, with respect to any Person, any other Person that directly or indirectly controls, is controlled by, or is under common control with, such Person.  “Control” (including the terms, “controlled by” and “under common control with”) means the possession, directly or indirectly, of the power to direct or cause the direction of the management and policies of a Person, whether through the ownership of voting securities, by contract or credit arrangement, as trustee or executor, or otherwise.
“After-Tax Basis” means that, in determining the amount of the payment necessary to indemnify and hold harmless any party against Losses, the amount of such Losses shall be determined net of any Tax benefit actually realized by the Indemnified Party (or any Affiliate thereof) in the Tax year an indemnity payment is made as the result of sustaining or paying such Losses (including as the result of facts or circumstances due to which the Indemnified Party sustained or paid such Losses).  Such Tax benefits shall be computed assuming that the Indemnified Party (or such Affiliate) recognized all other items of income, gain, loss, deduction or credit before recognizing any item arising from the receipt of any indemnity payment made pursuant to this Agreement or as a result of sustaining or paying any indemnifiable Loss.

“Agreement” shall have the meaning specified in the first paragraph of this Agreement.
“Anti-Bribery Laws” means any Applicable Laws with respect to the offering, giving, receiving or soliciting, directly or indirectly, of anything of value to improperly influence the actions of any Governmental Authority or any employee or Representative thereof, including the U.S. Foreign Corrupt Practices Act of 1977.
“Applicable Law” means any federal, state, local, foreign or territorial law (including common law), treaty, convention, code, statute, ordinance, directive, rule, regulation, decree, order, writ, injunction, judgment, permit, agency requirement, interpretation, Governmental Order, rule of any self-regulatory organization, governmental agreement or other requirement or rule of law applicable to a Person or, as applicable, any of such Person’s subsidiaries, properties, assets, or to such Person’s officers, directors, managing directors, employees or agents in their capacity as such.
“ARIAS-US” shall have the meaning specified in Section 12.3.
“Binder” means that certain binding commitment agreement, dated as of the SAPA Execution Date, by and among Hopmeadow Acquisition, Inc., the Company, Hartford Life Insurance Company, the Reinsurer and, solely for purposes of Annex A, Hartford Holdings, Inc.
“Book Value” means, with respect to Trust Account assets, at any date of determination, the amount stated for such assets on the Reinsurer’s statutory financial statements determined in accordance with then applicable statutory accounting principles consistently applied.
“Business Covered” means the in-force block of Reinsured Contracts reinsured under this Agreement.
“Business Day” means any day other than a Saturday, Sunday or other day on which banks in the State of New York, Commonwealth of Massachusetts or the State of Connecticut are permitted or required to be closed.
“Capital Stock” means any capital stock of, or other type of equity ownership interest in, as applicable, a Person.
“Ceding Commission” means $141,000,000.
“Closing” shall have the meaning set forth in the Binder.
“Closing Date” means the date of the Closing. 
“Commissions” shall have the meaning specified in Section 5.3.
“Company” shall have the meaning specified in the first paragraph of this Agreement.
“Company Indemnified Parties” shall have the meaning specified in Section 16.2(b).
“Company Material Adverse Effect” means (a) a material adverse effect on the business, assets, liabilities, results of operations or financial condition of the Company taken as a whole, but in each case to the extent relating to the Covered Liabilities, taken as a whole; provided that none of the following (or the results thereof) shall constitute or be deemed to contribute to a Company Material Adverse Effect, and otherwise shall not be taken into account in determining whether a Company Material Adverse Effect 

has occurred or would be reasonably likely to occur: any adverse fact, circumstance, change or effect arising out of, resulting from or attributable to (i) changes in the United States or global economy or capital or financial markets, including changes in interest or exchange rates or a downturn in equity markets, (ii) changes in political conditions generally of the United States, and any natural disasters, pandemics, hostilities, acts of war, sabotage, terrorism or military actions, (iii) conditions generally affecting participants in the industries in which the Company or its Affiliates operates, (iv) the announcement of this Agreement and the transactions contemplated hereby and the identity of the Reinsurer or the Retrocessionaire (including effects related to compliance with the covenants contained in this Agreement and the documents executed in connection herewith (the “Transaction Documents”), or the Retrocession Agreement and the documents executed in connection therewith (the “Retrocession Transaction Documents”), or the failure to take any action as a result of any restrictions or prohibitions set forth in this Agreement, the Transaction Documents, the Retrocession Agreement or the Retrocession Transaction Documents), (v) any changes or prospective changes in Applicable Law, GAAP, SAP or the enforcement or interpretation thereof, (vi) any action taken by the Reinsurer or its Affiliates or the Retrocessionaire or its Affiliates with respect to the transactions contemplated hereby, (vii) any change in the credit, financial strength or other ratings (other than the facts underlying any such change) of the Company), (viii) the Fair Market Value of any bonds, notes, debentures, mortgage loans, collateral loans and all other instruments of indebtedness, stocks, partnership or joint venture interests and all other equity interests, certificates issued by or interests in trusts and derivatives of the Company or its Affiliates, (ix) any failure by the Company or its Affiliates to achieve any earnings, premiums written, or other financial projections or forecasts (other than facts underlying such failure) or (x) any effect that is cured by the Company prior to the Closing Date; provided, that, notwithstanding the foregoing, with respect to clauses (i), (ii), (iii), (v) and (viii), such fact, circumstance, change or effect shall be taken into account in determining whether a Company Material Adverse Effect has occurred or would be reasonably likely to occur solely to the extent such fact, circumstance, change or effect is disproportionately adverse with respect to (A) the Company or Hartford Life Insurance Company and (B) the business being reinsured hereunder as compared to life insurance companies operating in the United States that issued insurance policies and annuity contracts with similar features and risks as the Reinsured Contracts and which were issued during the same period in which such Reinsured Contracts were issued or (b) a material impairment or delay of the ability of the Company to perform its material obligations under this Agreement and the Transaction Documents, taken as a whole, including consummation of the transactions contemplated hereby or thereby. 
“Contest” shall have the meaning specified in Section 3.3.
“Contract Considerations” means (i) all Separate Account Fee Income with respect to the Separate Account Contracts, (ii) all Separate Account Net Contractholder Transfers with respect to the Separate Account Contracts, excluding any fees and expenses under the Separate Account Contracts, including, but not limited to, mortality and expense charges and other fees due and payable thereunder, and (iii) other collections and recoveries received by the Company with respect to the Reinsured Contracts (excluding the Separate Account Contracts).
“Covered Liabilities” means (i) the Company’s liabilities under the express terms of the Reinsured Contracts, before and after giving effect to any modifications to the Reinsured Contracts that are required under Applicable Law, including interest accrued on liabilities under the terms of the Reinsured Contracts or Applicable Law, including but not limited to, withdrawals, death benefits, payout annuitization options, annuitization amounts, surrenders and other amounts payable by the Company pursuant to the terms of the Reinsured Contracts, (ii) all escheat or abandoned property liabilities relating to the Reinsured Contracts arising or incurred in the ordinary course of the Company’s business and without any violation of Applicable Law (excluding any fines, interest, penalties or other payments arising as a result of a failure to timely pay escheat or abandoned property liabilities or any other violation of Applicable Law), and (iii) Permitted Ex 

Gratia Payments; but excluding all Extra Contractual Liabilities other than (1) as otherwise expressly provided in this Agreement and (2) Extra-Contractual Liabilities for which the Reinsurer received prior notice of and the Reinsurer has expressly concurred, in writing, with the actions taken or not taken, or to be taken or not taken, by the Company that led to the assessment of such Extra-Contractual Liabilities.
“Covered Liability Seller Indemnification Claim” shall have the meaning specified in Section 16.2(d)(ii).
 “Disclosure Schedule” shall have the meaning specified in Section 15.1.
“Distributor” shall have the meaning specified in Section 15.1(p)(i).
“Effective Date” means December 31, 2016.
“Effective Time” means 11:59 p.m. on the Effective Date.
“Eligible Trust Account Assets” means assets qualifying as admitted assets for life insurance companies under the insurance laws of (i) the State of Connecticut or (ii) the Commonwealth of Massachusetts (whichever of the two jurisdiction’s laws would be more restrictive if imposed on the Reinsurer), but in each case complying with the investment guidelines attached hereto as Exhibit 3.
“ERISA Separate Accounts” shall have the meaning set forth in Section 15.1(o)(i).
“Estimated Initial Reinsurance Premium” shall have the meaning specified in Section 4.1(b).
“Estimated Initial Reinsurance Premium Part A” shall have the meaning set forth in Section 4.1(b).
“Estimated Initial Reinsurance Premium Part B” shall have the meaning set forth in Section 4.1(b).
“Estimated Initial Reinsurance Premium Statement” shall have the meaning specified in Section 4.1(b).
“Exchange Act” means the Securities Exchange Act of 1934.
“Ex-Gratia Payment” mean any voluntary payment made by the Company in response to a loss for which it is not contractually liable under the terms of a Reinsured Contract.
“Expense Allowance” shall have the meaning specified in Section 5.2.
“Expenses” means expenses incurred in connection with defending or asserting any claim or Action indemnified against hereunder (including court filing fees, court costs, arbitration fees or costs, witness fees and reasonable and documented fees and disbursements of legal counsel, expert witnesses, accountants and other professionals).
“Extra Contractual Liabilities” means all liabilities for (i) any fines, penalties, settlements, Taxes, fees, forfeitures, costs or expenses or any compensatory, punitive, exemplary, special, treble, bad faith, tort, statutory or any other form of extra-contractual damages, or portion thereof, as well as all legal fees and expenses attributable thereto, relating to, but not arising under, the express terms and conditions of, or in excess of the applicable payment provisions or coverage limits of, the Reinsured Contracts, whether to contractholders, insureds, producers, agents, brokers, Distributors, Governmental Authorities or any other 

Person, which arise from any actual or alleged act, error or omission committed by or on behalf of the Company, whether or not intentional, negligent, malicious, fraudulent, unlawful, in bad faith or otherwise, including, any act, error or omission of such Person, relating to (a) the form, marketing, sale, underwriting, production, issuance, cancellation, offering of elections or options under, or administration of, the Reinsured Contracts, (b) the investigation, defense, trial, settlement or handling of claims, benefits or payments in respect of any Reinsured Contracts, (c) the failure to pay, the delay in payment or errors in calculating or administering the payment of benefits, claims or any other amounts due or alleged to be due under or in connection with any Reinsured Contracts or (d) the failure of any of the Reinsured Contracts to qualify for their intended tax status; and (ii) Ex Gratia Payments made by or on behalf of the Company, other than Permitted Ex Gratia Payments; provided, however, that “Extra Contractual Liabilities” shall not include any liabilities, costs, expenses or fees (including legal fees and expenses) resulting from any litigation or dispute arising out of or relating to any changes in Non-Guaranteed Elements made by the Company to any Reinsured Contract on or after the Effective Date.
“Fair Market Value” means, with respect to any asset, the market value thereof as determined by the Reinsurer in accordance with its standard pricing procedures consistently applied, except with respect to the reference to Fair Market Value in Section 4.1, which determination of Fair Market Value shall be as determined by the Company in accordance with its standard pricing procedures consistently applied. 
“Final Initial Reinsurance Premium” shall have the meaning specified in Section 4.1(d).
“Final Initial Reinsurance Premium Statement” shall have the meaning specified in Section 4.1(d). 
“Financial Statements” means the Statutory Statements together with the HLIC GAAP Financial Statements.
“FINRA” means the Financial Institution Regulatory Authority, Inc. and any successor thereto.
“Future Annual Statutory Statements” shall have the meaning set forth in the Stock and Asset Purchase Agreement.
“Future Quarterly Statutory Statements” shall have the meaning set forth in the Stock and Asset Purchase Agreement.
“GAAP” means generally accepted accounting principles in the United States of America, as in effect from time to time. 
“Governmental Authority” means any foreign or national government, any state or other political subdivision thereof or any self-regulatory authority, and any entity exercising executive, legislative, judicial, regulatory or administrative functions of or pertaining to government.
“Governmental Order” means any binding and enforceable order, writ, judgment, injunction, decree, directive, stipulation, determination or award entered by or with any Governmental Authority.
“HLIC” means Hartford Life Insurance Company, a life insurance company organized under the laws of Connecticut.
“HLIC GAAP Financial Statements” means all of the GAAP financial statements of HLIC and its Subsidiaries (including the Company) included in the HLIC SEC Reports publicly available on the internet website of the SEC at least ten (10) Business Days prior to the Closing Date, including notes thereto.

“HLIC Reinsurance Agreement” means that certain Annuity Reinsurance Agreement, dated as of the date hereof, by and between HLIC, as cedent, and the Reinsurer, as reinsurer.
“HLIC Retrocession Agreement” means that certain Funds Withheld Annuity Retrocession Agreement that may be entered into by and between the Reinsurer, as retrocedent, and the Retrocessionaire, as retrocessionaire, on or after the Closing Date, with respect to the retrocession of certain liability reinsured to the Reinsurer under the HLIC Reinsurance Agreement.
“HLIC Retrocession Trust Account” means the trust account that may be established by Retrocessionaire for the benefit of the Company and the Reinsurer pursuant to the HLIC Retrocession Agreement.
“HLIC SEC Reports” means all required annual reports on Form 10-K, quarterly reports on Form 10-Q and reports on Form 8-K required to be filed or furnished by HLIC with or to the SEC since January 1, 2014.
“HLIC Trust Account” means the trust account established by the Reinsurer, as grantor, for the benefit of HLIC, and governed by the HLIC Trust Agreement.
“HLIC Trust Agreement” means the Trust Agreement, dated as of the date hereof, by and among the Reinsurer, HLIC and the Trustee.
“Indemnified Party” shall have the meaning set forth in Section 16.3(a).
“Indemnifying Party” shall have the meaning set forth in Section 16.3(a).
“Initial Net Settlement Amount” shall have the meaning specified in Section 4.3(a).
“Initial Reinsurance Premium Adjustment Period” shall have the meaning specified in Section 4.1(e)(i).
“Initial Reinsurance Premium Deficiency” shall have the meaning specified in Section 4.1(e).
“Interest Maintenance Reserve” means the amounts with respect to the Reinsured Contracts set forth on Schedule I, calculated as of the Effective Time. The calculation of the Interest Maintenance Reserve for purposes of Section 4.1(b)(iv) (the calculation of the Interest Maintenance Reserve created during the Interim Period and transferred as a direct result of the transactions contemplated by this Agreement for purposes of calculating the Estimated Initial Reinsurance Premium Part B) shall be equal to any net pre-tax realized capital gains (or losses) multiplied by 65%.  For purposes of calculating the Required Balance and the Recapture Payment, “Interest Maintenance Reserve” means, as of the applicable date of determination, the reserve determined in accordance with SAP.
“Interim Period” means the period from and after the Effective Date through and including the day prior to the Closing Date.
“Interim Period Interest” means interest as calculated on Schedule 1.1(a).
“Investment Company Act” means the Investment Company Act of 1940, as amended.
“Knowledge of Company” means the actual knowledge, after reasonable inquiry, of those Persons listed in Schedule 1.1(b).

“Liabilities” means any and all debts, liabilities, expenses, commitments or obligations, whether direct or indirect, accrued or fixed, known or unknown, absolute or contingent, matured or unmatured, determined or determinable, disputed or undisputed, joint or several, secured or unsecured, liquidated or unliquidated, whenever (including in the past, present or future) and however arising (including out of any contract or tort based on negligence or strict liability) and whether or not the same would be required by GAAP or SAP to be reflected in any financial statements or disclosed in the notes thereto.
“LIBOR Determination Date” means the date as of which Three-Month LIBOR is to be determined, or if such date is not a London Banking Day, the next immediately succeeding London Banking Day.
“London Banking Day” means any business day on which dealings in deposits in U.S. dollars are transacted in the London interbank market.
“Losses” means any and all losses, costs, charges, settlement payments, awards, judgments, fines, penalties, damages, expenses (including reasonable attorneys’, actuaries’, accountants’ and other professionals’ fees, disbursements and expenses), liabilities, and claims or deficiencies of any kind, in each case to the extent related to the Business Covered, without giving effect to any retrocession, if any, by the Reinsurer, and unrelated to any liabilities excluded or otherwise not covered hereunder; provided, that Losses shall not include indirect, punitive, exemplary, treble, special or consequential damages (including lost profits) except to the extent that (a) any such damages are payable to a third party not affiliated with the relevant Indemnified Party or (b) solely with respect to consequential damages (including lost profits), such damages are (i) not based on any special circumstances of the Indemnified Party and (ii) the natural, probable and reasonably foreseeable result of the event that gave rise thereto or the matter for which indemnification is sought hereunder, regardless of the form of action through which such damages are sought; provided, further, that direct and third party damages measured by the diminution in the value of the Business Covered shall constitute a “Loss” to the extent such damages are (A) not based on any special circumstances of the Indemnified Party (other than special circumstances of the Reinsurer, it being understood that, for purposes of determining the amount of the Reinsurer’s Losses in connection with a breach of a representation or warranty by the Company, this parenthetical shall be deemed to refer to special circumstances of the Reinsurer that are in existence as of or prior to the SAPA Closing Date) and (B) the natural, probable and reasonably foreseeable result of the event that gave rise thereto or the matter for which indemnification is sought hereunder, regardless of the form of action through which such damages are sought.
“Material Distributor” means each Distributor that wrote variable or fixed annuity contracts included in the Reinsured Contracts that as of December 31, 2016 had an aggregate Account Value in excess of $1,000,000,000.
 “Monthly Accounting Period” means each calendar month, provided that the initial Monthly Accounting Period shall commence on the Closing Date and end on the last day of the calendar month in which the Closing Date falls and the final Monthly Accounting Period shall commence on the first day of the calendar month in which the Termination Date falls and end on the Termination Date.
“Monthly Reinsurance Settlement Report” shall have the meaning specified in Section 6.1(a).
“Monthly Settlement” shall have the meaning specified in Section 6.3.
“Monthly Settlement Date” shall have the meaning specified in Section 6.3.

“NAIC Reserves” means, as of any given date, an amount equal to the gross statutory reserves that are required to be held by the specified party for purposes of its statutory financial statements with respect to the Reinsured Contracts, determined in accordance with then applicable SAP consistently applied, and calculated on a gross basis and without giving effect to the Reinsurer’s Quota Share.  When determining gross statutory reserves required to be held by the Company for purposes of its own statutory financial statements, the Company’s calculations shall be determinative of such amounts.
“Non-Guaranteed Elements” means any element within a Reinsured Contract which (a) affects its Account Value, cash surrender value, annuity benefit rate or any other contractholder costs or value and (b) may be changed at the discretion of the Company. Examples of non-guaranteed benefits or charges include: the Company’s discretion to (i) establish a crediting rate in excess of the minimum rate guaranteed in a particular Reinsured Contract, (ii) offer a settlement option rate that produces an immediate annuity benefit that is greater than the immediate annuity benefit produced by the settlement option rate guaranteed by a particular Reinsured Contract, (iii) in connection with the annuitization of a Reinsured Contract, offer an annuity benefit rate that produces annuity benefits that exceed the minimum guaranteed annuity benefits offered by such Reinsured Contract, (iv) limit the acceptance of future payments of premium to the extent such limitation is permitted by the terms of a particular Reinsured Contract, (v) assess policy and rider charges under a particular Reinsured Contract in an amount lower than guaranteed maximum amounts, and (vi) determine renewal rates applicable to market value adjustments.
“Permits” shall have the meaning specified in Section 15.1(k)(i). 
“Permitted Ex Gratia Payments” means Ex Gratia Payments by or on behalf of the Company following the Effective Date in accordance with the Company’s historical practices (a) up to a maximum aggregate amount of $5,000,000 since the Effective Date and (b) a maximum aggregate amount of $250,000 per annum.
“Permitted or Prescribed Accounting Practice” shall have the meaning specified in Section 15.1(e)(ii).
“Person” means any natural person, firm, limited liability company, general partnership, limited partnership, joint venture, association, corporation, trust, Governmental Authority or other entity.
“Policy Forms” shall have the meaning specified in Section 15.1(l)(ii).
“Premium Increase” shall have the meaning specified in Section 16.6(b).
“RBC Ratio” means the ratio of (i) Total Adjusted Capital (as defined in the NAIC Risk Based Capital (RBC) Model Act or in the rules and procedures prescribed by the NAIC with respect thereto, in each case as in effect on the date of determination) to (ii) Company Action Level RBC (as defined in the NAIC Risk Based Capital (RBC) Model Act or in the rules and procedures prescribed by the NAIC with respect thereto, in each case as in effect on the date of determination).
“Recapture Effective Time” shall have the meaning specified in Section 8.2(b)(ii).
“Recapture Event” shall have the meaning specified in Section 8.1.
“Recapture Payment” means the amount calculated in accordance with Schedule C.
“Registered Separate Account” shall have the meaning specified in Section 15.1(o)(iii).

“Reinsurance Credit Event” means an event that causes the Company to be unable, for any reason attributable to the Reinsurer or to a change in Applicable Law, to take full statutory financial statement credit for the reinsurance provided by this Agreement.
“Reinsured Business Fundamental Representations” means the representations and warranties set forth in Sections 5.03, 5.04, 5.05, 5.06, 5.07, 5.08, 5.15, 5.16, 5.18 and 5.25 of the Stock and Asset Purchase Agreement.
“Reinsured Business Pre-Closing Covenants” means the covenants in Sections 7.01(a)(ix) and 7.01(b)(ii), (iii), (iv), (v), (vi), (xiii), (xiv), (xvii), (xvii), (xviii), (xix), (xx) and (xxi) of the Stock and Asset Purchase Agreement, to the extent such covenants affect in any material respect the Reinsured Contracts or Covered Liabilities.
 “Reinsured Contracts” means the payout annuity contracts, period certain structured settlement contracts, SLSS Policies and variable payout separate account contracts of the Company, in force as of the Effective Time and delivered in the United States and U.S. territories to residents thereof, which are the contracts, riders and endorsements attached thereto set out in Schedule A under the heading “Reinsured Contracts” and as listed, together with the NAIC Reserves held (before giving effect to the cession contemplated hereby) by the Company in respect thereof, on an electronic bordereau delivered by the Company to the Reinsurer on the Closing Date.  Reinsured Contracts shall also include any annuitizations of the variable deferred separate account annuity contracts occurring during the Interim Period.  For the avoidance of doubt, Reinsured Contracts shall not include any annuitizations of variable deferred separate account annuity contracts, including riders, that occur after the Closing Date.
“Reinsurer” shall have the meaning specified in the first paragraph of this Agreement.
“Reinsurer Indemnified Parties” shall have the meaning specified in Section 16.2(a).
“Reinsured Risks” shall have the meaning specified in Section 2.1(a).
“Reinsurer’s Quota Share” means (a) in the case of the SLSS Policies, 75%, and (b) in the case of all other Reinsured Contracts, 85%.
“Related Seller Indemnification Claim” shall have the meaning specified in Section 16.2(d)(iii).
“Representatives” means a Person’s Affiliates, employees, directors, officers, agents, attorneys, financial advisors, actuaries and accountants.
“Required Balance” means, as of any given date prior to a Reinsurance Credit Event, an amount equal to (a) times (b) where:
(a)    = [REDACTED]  
(b)    (i) the Reinsurer’s Quota Share of the general account NAIC Reserves held by the Reinsurer on the Business Covered plus (ii) Interest Maintenance Reserve attributable to the Reinsured Risks, as of such date of determination and determined in accordance with SAP (on an after-tax basis) minus (iii) the Unamortized Ceding Commission as of such date.  
Following a Reinsurance Credit Event, the required balance of the statutory trust, if any, put in place to secure reinsurance credit in accordance with Section 17.1, as of any given date, shall be the greater of the amount 

determined under the foregoing calculation and the amount required for the Company to take full statutory financial statement credit in its domiciliary state (provided that such domiciliary state is a jurisdiction with substantially similar requirements as the Company’s domiciliary state as of the Closing Date) for the reinsurance provided by this Agreement.
“Reserves” means the reserves and deposit fund liabilities (including reserves established under Applicable Law or otherwise for payment of benefits, losses, claims, expenses and similar purposes (including claims litigation)) maintained by the Company with respect to the Covered Liabilities.
“Retrocessionaire” means the retrocessionaire designated by the Reinsurer on or after the Closing Date.
“Retrocessionaire’s Quota Share” means the quota share set forth in the Retrocession Agreement.
“Retrocession Agreement” means that certain Annuity Retrocession Agreement that may be entered into by and between the Reinsurer, as retrocedent, and the Retrocessionaire, as retrocessionaire, on or after the Closing Date, with respect to the retrocession of certain liabilities reinsured to the Reinsurer under the Agreement.
“Retrocession Trust Account” means the trust account that may be established by Retrocessionaire for the benefit of the Company and the Reinsurer pursuant to the Retrocession Agreement.
“Retrocession Trust Account Balance” means, as of a given date, the value (as determined in accordance with the Retrocession Trust Agreement), including accrued interest, consistently determined in accordance with NAIC statutory accounting principles, of all assets held in the Retrocession Trust Account as of such date and complying with the investment guidelines for the Retrocession Trust Account as set forth in the Retrocession Agreement.
“Retrocession Trust Agreement” shall have the meaning specified in Section 9.1.
“Revised Estimated Initial Reinsurance Premium” shall have the meaning specified in Section 4.1(c).
“Revised Estimated Initial Reinsurance Premium Statement” shall have the meaning specified in Section 4.1(c).
“SAP” means the statutory accounting principles and practices applicable to life insurance companies domiciled in the Commonwealth of Massachusetts; except that for purposes of Section 4.1(b), “SAP” means the statutory accounting principles and practices applicable to life insurance companies domiciled in the State of Connecticut.
“SAPA Execution Date” means December 3, 2017.
“SAPA Closing Date” means the date the closing under the Stock and Asset Purchase Agreement takes place.
“SEC” means the United States Securities and Exchange Commission.
“Securities Act” means the Securities Act of 1933, as amended.

“Seller Indemnification Claim” shall have the meaning specified in Section 16.2(d)(i).
“Separate Account Annual Statement” shall have the meaning specified in Section 15.1(e)(v).
“Separate Account Assets” means the assets held by the Company in the Separate Accounts in support of, and at least equal to, the Separate Account Liabilities.
“Separate Account Contracts” means those variable payout separate account annuity contracts included within the definition of Reinsured Contracts.  
“Separate Account Fee Income” means, for each calendar month, an amount equal to 1.25% times the Account Value of Separate Account Contracts as of the first day of such calendar month divided by 12.
“Separate Account Liabilities” means those liabilities that are reflected in the Separate Accounts and that relate to the Separate Account Contracts, including amounts transferred from the Separate Accounts to the general account of the Company pending distribution to beneficiaries of the Separate Account Contracts.
“Separate Account Net Contractholder Transfers” means (i) the aggregate value of amounts transferred from the Separate Accounts to the general account of the Company, minus (ii) the aggregate value of amounts transferred from the general account of the Company to the Separate Account.  Separate Account Net Contractholder Transfers shall include any transfers of amounts required to fund Reserves in respect of the Separate Account Contracts determined in accordance with SAP.
“Separate Accounts” means the separate accounts of the Company to the extent relating to the Separate Account Contracts.
“Services” shall have the meaning specified in Section 3.9(a). 
“SLSS Policies” means the standard lives structured settlement contracts issued by the Company.
“Special Project” shall have the meaning specified in Section 3.9(c)(ii).
“Stock and Asset Purchase Agreement” means that certain Stock and Asset Purchase Agreement, entered into on the SAPA Execution Date by and among Hartford Holdings, Inc., Hopmeadow Acquisition, Inc., Hopmeadow Holdings, LP, Hopmeadow Holdings GP LLC, and, solely for the purposes set forth therein, The Hartford Financial Services Group, Inc.
“Statutory Statements” means the following statutory statements, in each case together with the exhibits, schedules and notes thereto: (i) the annual statement of the Company as of and for the annual periods ended December 31, 2014, 2015 and 2016, in each case as filed with the insurance Governmental Authority of the jurisdiction of domicile of the Company, (ii) the audited annual financial statements of the Company as of and for the annual periods ended December 31, 2014, 2015 and 2016, together with the report of the Company’s independent auditors thereon and all exhibits, schedules and notes thereto, and (iii) the quarterly statements of the Company, as of and for the quarterly periods ended March 31, 2017, June 30, 2017 and September 30, 2017, in each case as filed with the insurance Governmental Authority of the jurisdiction of domicile of the Company.  

“Subsidiary” of any Person means any corporation, general or limited partnership, joint venture, limited liability company, limited liability partnership or other Person that is a legal entity, trust or estate of which (or in which) at the time of determination (a) the issued and outstanding Capital Stock having ordinary voting power to elect a majority of the board of directors (or a majority of another body performing similar functions) of such corporation or other Person (irrespective of whether at the time Capital Stock of any other class or classes of such corporation or other Person shall or might have voting power upon the occurrence of any contingency), (b) more than fifty percent (50%) of the interest in the capital or profits of such partnership, joint venture or limited liability company or (c) more than fifty percent (50%) of the beneficial interest in such trust or estate, is directly or indirectly owned by such Person.
“Tax” or “Taxes” means all income, premium, excise, gross receipts, ad valorem, sales, use, employment, franchise, profits, gains, property, transfer, payroll, stamp taxes or other taxes, (whether payable directly or by withholding) imposed by any Tax Authority, together with any interest and any penalties thereon or additional amounts with respect thereto; provided, that any guarantee fund assessment or escheatment obligation shall not be treated as a Tax; and provided further that Taxes include any liability for Taxes under Treasury Regulation Section 1.1502-6 and similar provisions of state, local or non-U.S. law and as a transferee or successor. 
“Tax Authority” means any Governmental Authority having jurisdiction over the assessment, determination, collection or imposition of any Tax.
“Terminal Accounting Settlement Report” means a report in the form of Schedule D.
“Termination Date” means the effective date of any termination of this Agreement as provided in Section 10.2.
“Third Party Actuary” means a nationally recognized accounting or actuarial firm mutually agreed upon by the parties hereto.
“Third Party Claim” shall have the meaning specified in Section 16.3(a)
“Three-Month LIBOR” means, for each interest period, (i) the London interbank offered rate for deposits in U.S. dollars, having a maturity of three months which appears on Bloomberg:  verb “BBAM”, 1) “Official ICE LIBOR Fixings” (or any successor or replacement page) as of 11:00 a.m. London time, on the related LIBOR Determination Date.  If this rate does not appear on Bloomberg:  verb “BBAM”, 1) “Official ICE LIBOR Fixings” (or any successor or replacement page) on that date, the rate for such interest period will be determined on the basis of the rates at which deposits in U.S. Dollars, having a maturity of three months and in a principal amount of not less than U.S. $1,000,000, are offered at approximately 11:00 a.m., London time, on the LIBOR Determination Date with respect to that interest period, to prime banks in the London interbank market or (ii) or an alternative rate as may be mutually agreed to by the parties from time to time, taking into account then current market practices.
“Transferred Assets” shall have the meaning specified in Section 4.3.
“Trust Account” means the trust account established by the Reinsurer, as grantor, for the benefit of the Company, and governed by the Trust Agreement.
“Trust Account Balance” means, as of a given date, the aggregate Book Value, including accrued interest for so long as such interest is credited by the Trustee, of all assets in the Trust Account on such date, determined in the manner set forth in Section 9.2.

“Trust Agreement” shall have the meaning specified in Section 9.1.
“Trustee” means, respectively, the trustee of the Trust Account, the HLIC Trust Account, the Retrocession Trust Account and the HLIC Retrocession Trust Account.
“Unamortized Ceding Commission” means, as of a given date, the portion of the Ceding Commission that is unamortized as of such date, as determined pursuant to Schedule B.
“Valuation Expert” means Interactive Data Corporation (or any successor organization) unless Interactive Data Corporation (or any successor organization) has a prior relationship with a party hereto that could constitute a conflict of interest or is unable to provide valuation, or, if Interactive Data Corporation (or any successor organization) has such a prior relationship or for assets as to which Interactive Data Corporation (or any successor organization) is unable to provide valuation, the next of the following firms (or any successor organization) that is able to provide valuation and does not have a prior relationship with a party hereto that could constitute a conflict of interest: BlackRock, Bank of America and J.P. Morgan; provided, if none of the preceding firms is able to provide a valuation or has such a prior relationship, the Valuation Expert shall mean a nationally recognized independent valuation firm mutually agreed upon by the parties hereto without a conflict of interest; provided, that if the parties are unable to mutually agree on a valuation firm within ten (10) Business Days from the date on which the applicable dispute notice requesting a Valuation Expert is first received, the parties hereto shall jointly request the Third Party Actuary to appoint a nationally recognized valuation firm without a conflict of interest and independent of the Company and the Reinsurer and their respective Affiliates to serve as the Valuation Expert.
 
ARTICLE II
COVERAGE
2.1.    Coverage.  
(a)    From and after the Effective Time, the Company agrees to cede to the Reinsurer, and the Reinsurer agrees to accept, on a quota share basis, the Reinsurer’s Quota Share of the Covered Liabilities incurred by the Company, but excluding all Covered Liabilities that were paid by the Company (which payment shall not require receipt thereof) prior to the Effective Time (the “Reinsured Risks”).
(b)    The liability of the Reinsurer under this Agreement (i) with respect to all Reinsured Contracts other than the Separate Account Contracts, shall be on a coinsurance basis and (ii) with respect to the Separate Account Contracts, (x) shall be on a coinsurance basis with respect to the general account insurance liabilities and obligations arising under the Separate Account Contracts and (y) on a modified coinsurance basis with respect to the Separate Account Assets and Separate Account Liabilities.  

2.2.    Conditions.  
(a)    If the Company’s liability under any of the Reinsured Contracts is changed because of changes made after the Effective Date in the terms and conditions of the Reinsured Contracts (including to any contract riders or endorsements thereto) that are required due to changes in Applicable Law as determined in accordance with Section 2.2(b), the Reinsurer will share in the change proportionately to the Reinsurer’s Quota Share hereunder and the Company and the Reinsurer will make all appropriate adjustments to amounts due each other under this Agreement.
(b)    If the Company believes a modification to the Reinsured Contracts is required under Applicable Law, the Company will provide to the Reinsurer (x) a memorandum prepared by the Company’s internal counsel summarizing the view that such modification is required under Applicable Law or (y) if the Reinsurer disagrees with the Company’s view, a legal memorandum prepared by outside counsel selected by the Company and reasonably acceptable to the Reinsurer supporting such view.  The positions set forth in such memorandum of outside counsel shall be final and binding on the parties.  In the event the Reinsurer disagrees with the Company’s view, the parties shall share the expense of such outside counsel on a pro rata basis, in accordance with their respective quota shares of the liabilities reinsured hereunder.  For purposes hereof, “final and binding” shall mean that the aforesaid memorandum shall have the same preclusive effect for all purposes as a determination embodied in a final judgment, no longer subject to appeal and entered by a court of competent jurisdiction after full and fair litigation on the merits.
(c)    The Company shall notify the Reinsurer in writing prior to making any changes, amendments or modifications after the Effective Date in the terms and conditions of any of the Reinsured Contracts (including to any contract riders or endorsements thereto).  Except as otherwise set forth or contemplated herein, including in paragraph (a) above, no such changes, amendments or modifications which, individually or in the aggregate, would materially adversely affect or would reasonably be expected to materially adversely affect the liability of the Reinsurer hereunder, shall be covered hereunder unless made by the Company with the prior written approval of the Reinsurer or, unless required by Applicable Law as determined in accordance with Section 2.2(b).  In the event that any such changes, amendments or modifications are made in any Reinsured Contract by the Company without the prior written approval of the Reinsurer, this Agreement will cover Reinsured Risks incurred by the Company under such Reinsured Contract as if the non-approved changes, amendments or modifications had not been made, unless the changes, amendments or modifications were required by Applicable Law.
(d)    Subject to the express terms of this Agreement, the Reinsurer shall follow the fortunes of the Company, such that (i) the Reinsurer shall accept the decision of the Company with respect to payment obligations with respect to any Reinsured Contract, and (ii) the Reinsurer’s liability for the Reinsured Contracts shall be the same as that of the Company, including the same terms, risks, and conditions, as may be modified by Applicable Law as determined in accordance with Section 2.2(b).  Claims notifications, claim papers and proofs will be furnished to the Reinsurer as soon as reasonably practicable following any written request for such items made by the Reinsurer.  
2.3.    Non-Guaranteed Elements. The Company shall set all Non-Guaranteed Elements under the Reinsured Contracts from and after the Closing Date, but shall request the recommendations of the Reinsurer (if not previously received) prior to the setting of any Non-Guaranteed Elements, and shall follow such recommendations unless the Company determines in good faith and on a reasonable basis that such recommendations (i) fail to comport with  Applicable Law, (ii) fail to comport with applicable Actuarial Standards of Practice, or (iii) fail to comport with the terms of a Reinsured Contract.

2.4.    Reinstatement.  Reinsured Contracts ceded under this Agreement shall include any Reinsured Contract that is reduced, terminated, or surrendered, and later reinstated pursuant to and in accordance with its policy provisions and will be reinsured by the Reinsurer in accordance with the terms of this Agreement.  A reduced, terminated, or surrendered annuity contract that would have been a Reinsured Contract had it been in force at the Effective Time, that later reinstates pursuant to and in accordance with its policy provisions, will be reinsured by the Reinsurer and become a Reinsured Contract.  The Reinsurer will be entitled to receive and/or retain the Reinsurer’s Quota Share of any premiums and interest for coverage on or after the Effective Date that is received for any such reinstatement, termination, or surrender and the Company will transfer to the Reinsurer an amount in cash equal to the Reinsurer’s Quota Share of the amount of Reserves (as if such reduction, termination or surrender had never occurred) for such reinstated Reinsured Contract as of the Effective Date.  The date of reinsurance for such reinstated Reinsured Contracts shall be the Effective Date.
 
ARTICLE III
ADMINISTRATION; GENERAL PROVISIONS
3.1.    Contract Administration.  The Company shall administer the Reinsured Contracts and provide all contractholder and claims servicing with respect to the Reinsured Contracts in all material respects in accordance with the terms of Section 3.9.
3.2.    Policy Exchanges.  Unless the Reinsurer has provided its prior written consent, the Company shall not, and shall not permit its Affiliates to, directly or indirectly, undertake, solicit, sponsor or support any exchange program in respect of the Reinsured Contracts or otherwise target in a directed, programmatic or systematic manner the Reinsured Contracts for replacement.
3.3.    Claims Settlements.  The Company will advise the Reinsurer of its intention to contest, compromise or litigate (jointly a “Contest”) any claim if such Contest could reasonably be expected to result in the payment by the Company of amounts different than the corresponding Covered Liabilities.  The Reinsurer will pay its share of the expense of the Contest in addition to the Reinsurer’s Quota Share of such corresponding Covered Liabilities, or it may choose not to participate.  If the Company’s Contest of such Covered Liabilities results in the reduction of its liability and the Reinsurer has chosen to participate therein, the Reinsurer will share in such reduction in proportion to the Reinsurer’s Quota Share. If the Reinsurer chooses not to participate, it will discharge its liability by payment to the Company of the full amount of the Reinsurer’s Quota Share of the corresponding Covered Liabilities.  For the avoidance of doubt, corrections in Covered Liabilities due to a misstatement of material fact (such as age or sex) or a legal action initiated by the Company to determine the lawful claim beneficiary shall be subject to this Section 3.3.  
3.4.    Inspection.  The Company shall keep accurate and complete records, files and accounts of all transactions and matters with respect to the Reinsured Contracts and the Company’s administration thereof in accordance with Applicable Law and its record management practices in effect from time to time for the Company’s insurance business not covered by this Agreement.  The Reinsurer and its designated Representatives (which Representatives may include any Retrocessionaire of the Reinsured Contracts) may at their own expense and upon reasonable notice inspect, at the offices of the Company where such records are located (and if such records are located at the offices of a third party, at such offices), and copy the papers and any and all other books or documents of the Company reasonably relating to this Agreement, including the Reinsured Contracts and the administration thereof by the Company and shall have access to appropriate employees and Representatives of the Company, in each case during normal business hours without unreasonable disruption of the business of the Company for such period as any provision of this Agreement 

is in effect or the Reinsurer reasonably needs access to such records for regulatory, Tax or similar purposes; provided, however, that the Reinsurer and its designated Representatives (which Representatives may include any Retrocessionaire of the Reinsured Contracts) may not conduct such inspections more than once in any given six (6) month period.  If the Reinsurer exercises its inspection rights, the Company must provide a reasonable work space for such audit, examination or copying, reasonably cooperate and produce any and all materials reasonably requested to be produced.  The information obtained shall be used only for purposes relating to the transactions contemplated under this Agreement.
3.5.    Errors and Omissions.  If any delay, omission, error (including any omission or error in any Monthly Reinsurance Settlement Report) or failure to pay amounts due or to perform any other act required by this Agreement is unintentional and caused by misunderstanding or oversight, the Company and the Reinsurer will adjust the situation to what it would have been had the misunderstanding or oversight not occurred.  The party first discovering such misunderstanding or oversight, or an act resulting from such misunderstanding or oversight, will notify the other party in writing promptly upon discovery thereof, and the parties shall act to correct such misunderstanding or oversight within thirty (30) Business Days of such other party’s receipt of such notice.  However, this Section shall not be construed as a waiver by either party of a right, if any, to enforce strictly the terms of this Agreement.
3.6.    Age, Sex and Other Adjustments.  If the Company’s liability under any of the Reinsured Contracts is changed because of a misstatement of age or sex or any other material fact, the Reinsurer will share in the change proportionately to the Reinsurer’s Quota Share hereunder and the Company and the Reinsurer will make all appropriate adjustments to amounts due each other under this Agreement.
3.7.    Setoff and Recoupment.  Any debts or credits, matured or unmatured, in favor of or against either the Company or the Reinsurer with respect to this Agreement are deemed mutual debts or credits, as the case may be, and shall be set off and/or recouped from any amounts due to the Company or the Reinsurer hereunder, as the case may be, and only the net balance shall be allowed or paid.
3.8.    Net Retention.  The Company shall retain, net and unreinsured, at its own risk and liability, a 10% quota share of the gross liabilities with respect to each Reinsured Contract.  For the avoidance of doubt, the foregoing net retention requirement shall not apply to any annuities, insurance policies or products, or any business of the Company, to the extent not reinsured hereunder.
3.9.    Administration.
(a)    Administration.  The Company shall administer the Reinsured Contracts and provide all required, necessary and appropriate administrative and other services with respect to the Reinsured Contracts in accordance with the terms hereof, including, but not limited to (i) contractholder and claims servicing, (ii) the payment of all Covered Liabilities and the administration of claims and disbursements, (iii) holding quarterly servicing and administration review calls with the Reinsurer to discuss issues that have arisen with respect to the Business Covered, (iv) establishing a secured data transfer channel for safely exchanging data with respect to the Business Covered, and (v) providing a monthly data snapshot of applicable Reinsured Contracts and associated activities (the “Services”). The Company shall provide the Services: (A) in accordance in all material respects with the terms of the Reinsured Contracts, the applicable terms of this Agreement, and Applicable Law; and (B) subject to the foregoing, in substantially the same manner from a quality perspective and using at least the same standards of skill, diligence, care, effort and expertise applied by the Company in providing the Services in respect of the Reinsured Contracts during the twelve (12)-month period prior to the Effective Date. The Company will not materially change, alter or otherwise compromise its administrative practices that could have a material adverse effect on the Reinsurer with respect to the Reinsured Contracts without the prior written consent of the Reinsurer; such consent not to be 

unreasonably withheld, conditioned or delayed, it being understood that this sentence shall not be construed to alter the Company’s other obligations under this Agreement.
(b)    Sub-Contracting.
(i)    The Company shall only be permitted to delegate or subcontract its responsibility to perform any portion of any material administrative Service (e.g., accepting premiums or adjusting claims) with respect to the Reinsured Contracts to any other Person with the prior written consent of the Reinsurer; such consent not to be unreasonably withheld, conditioned or delayed; provided, that no such subcontracting shall relieve the Company from any of its obligations or liabilities hereunder, and the Company shall remain responsible for all obligations or liabilities of such subcontractor with regards to the providing of such service or services as if provided by the Company.  Notwithstanding the foregoing, the Company shall be permitted to delegate or subcontract any immaterial Services and to delegate or subcontract the Services as currently delegated or subcontracted.
(ii)    The Company shall require any unaffiliated subcontractor which provides a material administrative Service (e.g., accepting premiums or adjusting claims) with respect to the Reinsured Contracts to provide it with a copy of such subcontractor’s SSAE 16 Type I report or, if the subcontractor is able to provide, such subcontractor’s SSAE 16 Type II report, or any successor or other substantially similar report on an annual basis. A copy of any such reports required under this Section 3.9(b)(ii) shall be provided by the Company to the Reinsurer no later than ten (10) Business Days following the Company’s receipt of such report from such subcontractor. Following receipt by the Company of any such report that identifies one or more control deficiencies or significant testing exceptions in effect for such reporting period, the Company shall use its commercially reasonable efforts to require that such subcontractor promptly cure such deficiencies and exceptions. The Company shall provide the Reinsurer with evidence that such deficiency or exception has been cured or a plan of the actions the Company has taken or will take in order to cure such deficiency or exception, and the Company shall keep the Reinsurer apprised of any developments in connection therewith.
(c)    Administration Reports.
(i)    The Company shall prepare the reports set forth in Schedule G and Schedule H. Additionally, the Company shall prepare any other reports reasonably requested by the Reinsurer in connection with the Business Covered, so long as the Company has the general ability to produce such other reports as reasonably determined by the Company with reference to its then current operations (“Additional Reports”).  Except to the extent that the Company prepares such Additional Reports in the ordinary course of business, the Reinsurer shall reimburse the Company for any actual costs the Company incurs in preparing any such Additional Reports. Any Additional Reports required to be prepared by the Company shall be prepared and delivered to the Reinsurer within the time agreed upon by the parties.
(ii)    Any service reasonably requested by the Reinsurer (A) that is in addition to the Services provided by the Company as of the Closing Date or (B) attributable to special or unusual circumstances of the Reinsurer shall be deemed a “Special Project.” The Reinsurer acknowledges that (x) unless and until the Company has consented in writing, which consent shall not be unreasonably withheld, conditioned or delayed, to provide services for any Special Project, the Company will have no obligation to provide such services, and (y) any services for Special Projects provided by the Company will require the Reinsurer requesting such Special Project to pay fees to the Company at a rate as reasonably determined by the Company in accordance with its internal accounting procedures, including fees charged to the Company by its service providers in respect of such Special Projects and employee compensation (including salary, bonus or other incentive compensation), benefits and facilities, plus a reasonable margin.

(iii)    The Company shall provide the Reinsurer with written notice of any significant control deficiency or material weakness, including with respect to cybersecurity or privacy, identified by the Company or its internal and external auditors and resulting Company action plans which are relevant to the Business Covered, promptly and, in each case, within five (5) Business Days of the Company becoming aware of such significant control deficiency or material weakness or such action plans becoming available, and shall provide the Reinsurer with any management reports and the respective internal and external audit reports in respect of such significant control deficiency or material weakness promptly upon and, in each case, within five (5) Business Days of their issuance to the Company. In the event the Company has notified the Reinsurer, or the Reinsurer otherwise becomes aware, of any such deficiency or weakness, the Reinsurer and its Representatives (which Representatives may include any Retrocessionaire of the Reinsured Contracts) shall have the right, at the sole expense of the Reinsurer or such Representative (as appropriate), to conduct on-site audits, including technology, security, data protection, compliance and privacy audits, and request documentation at its reasonable discretion related to an audit or inquiry on the part of the Reinsurer (with which request the Company shall promptly comply) at any time, and the Company shall permit the Reinsurer’s certified public accountants to conduct testing and audit procedures with respect to the Company’s operations in order to support the Reinsurer’s audit of its financial statements, in each case during normal business hours and without unreasonable disruption to the business of the Company. The Reinsurer shall provide the Company with reasonable notice of any such on-site audits or certified public accountant firm testing and audits; provided, that the Reinsurer shall comply with such audit protocols as may be reasonably prescribed by the Company. The information obtained by the Reinsurer pursuant to such audits and testing shall be used only for purposes relating to the transactions contemplated under this Agreement.
(d)    Inability to Perform Services.  In the event that the Company is unable, for any reason, to perform all or a portion of the Services at the standard required by Section 3.9(a) for a period that could reasonably be expected to exceed ten (10) Business Days, the Company shall promptly provide notice to the Reinsurer of its inability to so perform the applicable Services and the Company shall obtain an alternative means of providing such Services reasonably acceptable to the Reinsurer. The Company shall be responsible for all fees, costs and expenses incurred in order to obtain such alternative means of providing the applicable Services.
3.10.    Novation.  If the Reinsurer submits a proposal with respect to a novation of the structured settlement annuity contracts that are part of the Reinsured Contracts following the Closing Date, the parties agree to discuss the proposal in good faith and cooperate in evaluating such proposal.  Should the Company on the one hand, and the Reinsurer or the Retrocessionaire, as applicable, on the other, reach an agreement to novate the contracts, the parties will develop a plan for such novation, which shall include a strategy for communicating with contractholders to obtain their consent, and obtaining all necessary approvals from Governmental Authorities.  Any such plan shall require the Reinsurer and/or the Retrocessionaire, as applicable, to adhere to communication protocols in form and substance satisfactory to the Company in its sole discretion.
3.11.    No Ratings.  In no event shall any provision of this Agreement be construed to require the Company to maintain any insurance financial strength rating or similar rating. 
ARTICLE IV 
INITIAL PAYMENTS

4.1.    Estimated Initial Reinsurance Premium.1 
(a)    On the Effective Date, the Company shall owe to the Reinsurer an amount equal to the Estimated Initial Reinsurance Premium, which amount shall be paid in the manner described in Section 4.3.
(b)    Not later than twenty (20) Business Days prior to the intended Closing Date, the Company shall deliver to the Reinsurer a statement (the “Estimated Initial Reinsurance Premium Statement”) of the Company’s good faith calculation of the Estimated Initial Reinsurance Premium (such calculation, which shall reflect the amount payable to the Reinsurer, the “Estimated Initial Reinsurance Premium”) based on:
(i)     those assets that are listed on Annex A-1 and that have a value, as determined by multiplying each respective asset’s current face value as of the Closing Date by such asset’s market price (excluding accrued interest) as of the Effective Date, equal to the Estimated Initial Reinsurance Premium Part A; and
(ii)    those assets and cash that are listed on Annex B-1 and that have a Fair Market Value (including accrued interest), determined as of the Closing Date, equal to the Estimated Initial Reinsurance Premium Part B.
For purposes of this Agreement, the “Estimated Initial Reinsurance Premium Part A” means an amount equal to $2,761,299,141, being the amount equal to the Reinsurer’s Quota Share of:
(i)    the NAIC Reserves held by the Company on the Business Covered (excluding separate account NAIC Reserves in respect of the Separate Account Contracts), determined in accordance with SAP consistently applied, as of the Effective Time, plus
(ii)    the existing Interest Maintenance Reserve attributable to the Business Covered, determined in accordance with SAP consistently applied, as of the Effective Time and as set forth on Schedule I, plus
(iii)    pre-tax unrealized gains (and losses) on the assets listed on Annex A-1 as of the Effective Time.
For purposes of this Agreement, the “Estimated Initial Reinsurance Premium Part B” means an amount equal to $34,875,168, being the amount equal to the Reinsurer’s Quota Share of: 
(i)    liability cash flows with respect to the Reinsured Contracts during the Interim Period, being a) Contract Considerations minus b) reinsured benefits incurred under Covered Liabilities minus c) Expense Allowances and Commissions, plus
(ii)    Interim Period Interest, plus
(iii)    premium (or annuitized Account Value) for any new Reinsured Contracts added after the Effective Time, plus 
1The Estimated Initial Reinsurance Premium and Annex A-1 have been adjusted to reflect the novation of certain contracts to the Company using 2/1/18 reserves.

(iv)    the amount with respect to the Reinsured Contracts of any new Interest Maintenance Reserve created during the Interim Period (which amount may be negative to the extent of any capital losses)  divided by 0.65, plus
(v)    additional cash flow testing reserves with respect to the Reinsured Contracts posted during the Interim Period divided by 0.65, minus
(vi)    the accrued interest on assets listed under Annex A-1 as of the Closing Date.
(c)    Within forty-five (45) calendar days after the Closing Date, the Company may prepare and deliver to the Reinsurer a revised Estimated Initial Reinsurance Premium Statement (the “Revised Estimated Initial Reinsurance Premium Statement”) setting forth the Company’s good faith calculation of any adjustments it deems necessary to the Estimated Initial Reinsurance Premium (the Estimated Initial Reinsurance Premium, as adjusted, the “Revised Estimated Initial Reinsurance Premium”), including a statement of each component thereof.
(d)    The Estimated Initial Reinsurance Premium or the Revised Estimated Initial Reinsurance Premium (if applicable) shall be deemed to be the “Final Initial Reinsurance Premium”, unless the Reinsurer provides a written notice to the Company within thirty-five (35) calendar days after receipt of the Estimated Initial Reinsurance Premium Statement or the Revised Estimated Initial Reinsurance Premium Statement (if applicable) stating that the Reinsurer disagrees with one or more of the entries or calculations (or any components thereof) set forth in the Estimated Initial Reinsurance Premium Statement or the Revised Estimated Initial Reinsurance Premium Statement (if applicable) and specifying in reasonable detail each item that the Reinsurer disputes, the amount in dispute for each such disputed item and the reasons supporting the Reinsurer’s positions.  If the Reinsurer delivers such written notice within such thirty-five (35) calendar day period, the Company and the Reinsurer shall each negotiate in good faith to resolve the disputed items within ten (10) Business Days beginning on the date the Company receives the written notice.  If the Company and the Reinsurer reach agreement with respect to any disputed items, the Company shall revise the Estimated Initial Reinsurance Premium Statement or the Revised Estimated Initial Reinsurance Premium Statement (if applicable) to reflect such agreement.  If the Company and the Reinsurer are unable to resolve all of the disputed items within such ten (10) Business Day period, the Company and the Reinsurer shall submit the unresolved disputed items to review by the Third Party Actuary, except to the extent the dispute relates to the valuation of the Transferred Assets (including disputes relating to Fair Market Value), the Company and the Reinsurer shall submit the dispute to review by the Valuation Expert.  The Company and the Reinsurer shall instruct the Third Party Actuary or the Valuation Expert (as applicable) to render its decision as to the disputed items within thirty (30) calendar days after the submission of the applicable matter for its review (or as soon thereafter as possible). The Third Party Actuary or the Valuation Expert (as applicable) shall not review any items that are not in dispute or any assumptions underlying any calculations provided to it, and shall adhere to the methodologies employed by the Company for performing any such calculations. The decision(s) of the Third Party Actuary or the Valuation Expert (as applicable) shall be final, binding and conclusive upon the Company and the Reinsurer absent manifest error; provided that the decision of the Third Party Actuary or the Valuation Expert (as applicable) as to any figure shall not be outside the range of such figures proposed by each of the Company and the Reinsurer and the Third Party Actuary or the Valuation Expert (as applicable) shall be subject to the limitations set forth in the preceding sentence.  Following the resolution of all disputed items, the Company shall prepare and deliver to the Reinsurer a revised premium statement (the “Final Initial Reinsurance Premium Statement”) which shall reflect the resolution of all relevant disputed items and which shall set forth the “Final Initial Reinsurance Premium”.  Any expenses relating to the engagement of the Third Party Actuary or the Valuation Expert (as applicable) in respect of its services pursuant to this Section 4.1(d) shall be shared equally by the Company and the Reinsurer.

(e)    If (1) the Final Initial Reinsurance Premium (as determined in accordance with Section 4.1(d)) minus (2) the Estimated Initial Reinsurance Premium (such difference, the “Initial Reinsurance Premium Deficiency”) is greater than or less than zero, there shall be an adjustment payment as follows: 
(i)    if the Initial Reinsurance Premium Deficiency is a positive number, the Company shall pay to the Reinsurer in cash via a wire transfer of immediately available funds to the account designated therefor in writing by the Reinsurer (x) an amount equal to the Initial Reinsurance Premium Deficiency plus (y) interest on the Initial Reinsurance Premium Deficiency for each day during the period beginning on the Closing Date and ending on, but not including, the date of such payment of the post-closing adjustment (the “Initial Reinsurance Premium Adjustment Period”), calculated at a rate equal to the Three-Month LIBOR plus thirty (30) basis points per annum as computed on the basis of (i) a 360-day year composed of twelve (12) 30-day months and (ii) daily compounding; and
(ii)    if the Initial Reinsurance Premium Deficiency is a negative number, the Reinsurer shall pay to the Company in cash via a wire transfer of immediately available funds to the account designated therefor in writing by the Company (x) an amount equal to the absolute value of the Initial Reinsurance Premium Deficiency plus (y) interest on the absolute value of the Initial Reinsurance Premium Deficiency for each day during the Initial Reinsurance Premium Adjustment Period calculated at a rate equal to the Three-Month LIBOR plus thirty (30) basis points per annum as computed on the basis of (i) a 360-day year composed of twelve (12) 30-day months and (ii) daily compounding.
Any such adjustment payment shall be made within ten (10) Business Days after the date that the Final Initial Reinsurance Premium is deemed to be determined.
4.2.    Ceding Commission.  On the Effective Date, the Reinsurer shall owe to the Company an amount equal to the Ceding Commission, which amount shall be paid in the manner described in Section 4.3.
4.3.    Netting of Payments; Transfer of Assets.  
(a)    On the Closing Date, the Company shall pay to the Reinsurer an amount equal to the Estimated Initial Reinsurance Premium and, simultaneously, the Reinsurer shall pay to the Company an amount equal to the Ceding Commission.  The foregoing payments shall be netted against each other and, in satisfaction of the net amount due (such net amount, the “Initial Net Settlement Amount”), the Company shall deposit into the Trust Account on the Closing Date, on behalf of the Reinsurer as grantor of the Trust Account, those assets identified in the attached Annex A-1 and Annex B-1 (the “Transferred Assets”) with a mutually agreed upon Fair Market Value (as set forth on Annex A-1 and Annex B-1).
(b)    In addition, on the Closing Date, (x) if the Initial Net Settlement Amount exceeds the value of the Transferred Assets as calculated in Section 4.1(b), then, on the Closing Date, the Company shall deposit into the Trust Account cash in an amount equal to such excess and (y) if the value, of the Transferred Assets as calculated in Section 4.1(b) exceeds the Initial Net Settlement Amount, then, on the Closing Date, the Reinsurer shall pay to the Company an amount equal to such excess in cash.  The Company acknowledges and agrees that the Reinsurer will not be liable for any failure of the Company to deliver the Transferred Assets or any such cash directly into the Trust Account.
4.4.    Top-Up with Trustee.  On the Closing Date, the Reinsurer shall deposit into the Trust Account Eligible Trust Account Assets with a Book Value (and Fair Market Value no less than Book Value) equal, in the aggregate, to (i) the excess of the estimated Required Balance as of the Closing Date over the 

Initial Net Settlement Amount minus (ii) the Retrocession Trust Account Balance (if applicable and if any) as of the Closing Date.
 
ARTICLE V 
ADDITIONAL REINSURANCE PREMIUMS; EXPENSE ALLOWANCE; COMMISSIONS
5.1.    Additional Contract Considerations.  On each Monthly Settlement Date, the Company shall owe to the Reinsurer the Reinsurer’s Quota Share of the Contract Considerations with respect to the Reinsured Contracts for the Monthly Accounting Period corresponding to such Monthly Settlement Date.  Except as otherwise provided in Section 5.4, settlement of amounts owed under this Section shall be made on a net basis in accordance with Article VI.
5.2.    Expense Allowance.  On each Monthly Settlement Date, the Reinsurer shall owe to the Company with respect to each Monthly Accounting Period ending after the Effective Date, the Reinsurer’s Quota Share of an expense allowance (each an “Expense Allowance”) related to each Reinsured Contract in an amount calculated in accordance with Schedule E.  The Reinsurer will bear no part of the expenses incurred in connection with the Reinsured Contracts, except as otherwise provided herein.  The allowance for any premium Taxes, state guarantee fund assessments, special assessments or excise Taxes paid in connection with the Reinsured Contracts is included in Expense Allowances.  The Reinsurer will not reimburse the Company for any other Taxes or assessments paid by the Company in connection with the Reinsured Contracts.  Except as otherwise provided in Section 5.4, settlement of amounts owed under this Section shall be made on a net basis in accordance with Article VI.
5.3.    Commissions.  On each Monthly Settlement Date, the Reinsurer shall owe to the Company the Reinsurer’s Quota Share of the commission amounts set forth on Schedule J for the Monthly Accounting Period corresponding to such Monthly Settlement Date (“Commissions”).  The Company shall not change the Commissions without the prior consent of the Reinsurer.  Except as otherwise provided in Section 5.4, settlement of amounts owed under this Section shall be made on a net basis in accordance with Article VI.
5.4.    Settlements. Settlement of amounts owed under this Article V with respect to the Interim Period shall have been effectuated under Section 4.1, and settlement of amounts owed on and after the Closing Date shall be made in accordance with Article VI.
ARTICLE VI 
ACCOUNTING AND SETTLEMENT
6.1.    Monthly Reinsurance Settlement Reports and NAIC Reserve Reports.
(a)    As soon as practicable but not more than seven (7) Business Days following the end of each Monthly Accounting Period ending after the Closing Date, the Company shall deliver to the Reinsurer a monthly reinsurance settlement report in the form of Schedule F-1  (the “Monthly Reinsurance Settlement Report”) and seriatim data reports substantially in the form of Schedule F-2.
(b)    Together with the Monthly Reinsurance Settlement Report, the Company shall deliver a written statement of the (i) NAIC Reserves for the Company for the applicable month and (ii) Separate Account NAIC Reserves for the Company for the applicable month, in each case substantially in the form of Schedule F-3, to the Reinsurer.

(c)        After the receipt by the Reinsurer from the Company of the monthly reports provided for in this Section 6.1, and until such time as the Monthly Reinsurance Settlement Report is finalized pursuant to Section 6.1(e), the Reinsurer and its authorized Representatives shall have, upon prior written notice, reasonable access during normal business hours to the working papers of the Company relating to such reports and the items set forth thereon.  The Reinsurer shall have the right to review the Monthly Reinsurance Settlement Report and comment thereon for a period of thirty (30) Business Days after receipt of such report.  Any changes in such Monthly Reinsurance Settlement Report that are agreed to by the parties within such thirty (30) Business Day review period shall be incorporated into a final report.  In the event the Reinsurer does not dispute such Monthly Reinsurance Settlement Report within such thirty (30) Business Day review period, such Monthly Reinsurance Settlement Report shall, subject to Section 3.4, be deemed final and binding on the parties.  
(d)    In the event that a good faith dispute arises regarding any item or items in a Monthly Reinsurance Settlement Report within such thirty (30) Business Day review period, each of the parties shall prepare separate written reports of such item or items remaining in dispute and refer such Monthly Reinsurance Settlement Report to the Third Party Actuary within ten (10) calendar days after the expiration of such thirty (30) Business Day review period.
(e)    The Third Party Actuary shall resolve within thirty (30) calendar days the dispute regarding such item or items in the Monthly Reinsurance Settlement Report; provided, however, that the dollar amount of each item in dispute shall be determined within the range of dollar amounts proposed by the Company and the Reinsurer; and provided, further, that the Third Party Actuary shall not review any items that are not in dispute or any assumptions underlying any calculations provided to it, and shall adhere to the methodologies employed by the Company for performing any such calculations.
(f)    The determinations by the Third Party Actuary as to the items in dispute shall be in writing and shall be final and binding on the parties, absent manifest error.  The fees, costs and expenses of retaining the Third Party Actuary shall be shared equally by the Company and the Reinsurer.
(g)    Within five (5) Business Days following the date on which any Monthly Reinsurance Settlement Report that was the subject of a timely dispute pursuant to this Section 6.1 becomes final pursuant to this Section 6.1, the parties shall make any necessary adjustment payments to reflect the resolution of any such disputes.
6.2.    Trust Reporting.  
(a)    Within ten (10) Business Days after the Reinsurer’s receipt of a Monthly Reinsurance Settlement Report, the Reinsurer shall certify in writing to the Company and the Trustee that all the assets held in the Trust Account as at the end of the applicable month are Eligible Trust Account Assets or, to the extent any such assets are not Eligible Trust Account Assets, the Reinsurer’s intended course of action (and actions already taken, if applicable) with regard to replacing such assets with Eligible Trust Account Assets.
(b)    Concurrently with the delivery of the above certification, the Reinsurer shall also deliver to the Company a certification by the Reinsurer of: (i) the Required Balance, and if applicable, and the portion of the Required Balance required to be maintained in the Retrocession Trust Account, each as at the end of the month, (ii) the aggregate Book Value of all the assets in the Trust Account and in the Retrocession Trust Account, if applicable, as at the end of the month and (iii) a complete list of the assets in the Trust Account and the Retrocession Trust Account, if applicable, and their respective Book Values as at the end of the month.

6.3.    Amounts Due to the Parties. All amounts due to be paid to the Company or the Reinsurer under this Agreement shall be determined on a net basis, giving full effect to Section 3.7.  Each net amount due the Company or the Reinsurer with respect to each Monthly Accounting Period ending after the Closing Date as reflected on a Monthly Reinsurance Settlement Report (the “Monthly Settlement”) shall be paid in cash by the owing party no later than ten (10) Business Days after receipt by the Reinsurer of the Monthly Reinsurance Settlement Report (the “Monthly Settlement Date”).
6.4.    Annual Financial Reports.  As soon as practicable but no later than forty (40) calendar days following the end of each calendar year ending after the Closing Date, the Company shall supply the Reinsurer with the reports set forth on Schedule G and any other reports related to the Reinsured Contracts as may be reasonably requested by the Reinsurer for use in connection with the preparation of the Reinsurer’s statutory financial statements.  The parties shall cooperate in good faith to establish the form for the providing of such reports.
6.5.    Additional Reports and Updates.  For so long as this Agreement remains in effect, (i) the Company shall supply the Reinsurer with the reports set forth on Schedule H within the applicable time periods listed thereon and (ii) each of the parties shall periodically furnish to the other such other reports and information as may be reasonably requested by such other party for regulatory, tax, rating agency or similar purposes and reasonably available to it.
6.6.    Delayed Payments.  Unless otherwise specified in this Agreement, in the event that all or any portion of any payment due either party pursuant to this Agreement becomes overdue, the portion of the amount overdue shall bear interest at an annual rate equal to (i) the then current Three-Month LIBOR determined on the date that the payment becomes overdue plus (ii) thirty (30) basis points, for the time that the amount is overdue, with Three-Month LIBOR reset as of the first London Banking Day of each successive Monthly Accounting Period and applied to such Monthly Accounting Period.
 
ARTICLE VII 
TERMINATION FOR NON-PAYMENT
7.1.    Notice of Termination for Non-Payment.  On any day on which the Company is delinquent in paying amounts due and owing to the Reinsurer under this Agreement, other than amounts that are the subject of a good faith dispute or an error or omission of the type specified in Section 3.5, the Reinsurer may give the Company written notice that the reinsurance coverage hereunder shall terminate, solely with respect to the Reinsured Contracts to which such delinquent amount relates, as of the date of such notice of termination if such overdue amount plus applicable interest thereon is not paid to the Reinsurer within thirty (30) calendar days from the date of such notice.  If such written notice has been given by the Reinsurer and such overdue amount plus applicable interest thereon is not paid to the Reinsurer within such thirty (30) calendar day period, such failure to pay shall be treated by the parties as a Recapture Event with respect to the Reinsured Contracts as to which such amounts have not been paid, and the Reinsurer shall tender to the Company an amount equal to the Recapture Payment determined in accordance with Section 8.3 below solely with respect to the Reinsured Contracts to which such delinquent amount relates.  Thereupon, as of or on the Recapture Effective Time, all reinsurance coverage under this Agreement solely with respect to the Reinsured Contracts to which such delinquent amount relates shall terminate and the Reinsurer shall have no further liability solely with respect to the Reinsured Contracts to which such delinquent amount relates from the date on which such unpaid amount was originally due, other than the payment of the such Recapture Payment.

ARTICLE VIII 
RECAPTURE
8.1.    Recapture Events.  Each of the following shall constitute a “Recapture Event”:
(a)    (i) the Reinsurer ceases to or fails to be solvent, or generally fails to pay, or admits in writing its inability to pay, its debt as they become due, subject to applicable grace periods, (ii) the Reinsurer initiates or commences the appointment of a receiver, trustee, custodian, conservator, liquidator, mortgagee in possession (or agent therefor), or other similar Person for itself or for all or substantially all of its assets, (iii) the Reinsurer becomes subject to any liquidation, insolvency, rehabilitation, conservation, supervision or similar proceeding against the Reinsurer by a Governmental Authority having jurisdiction over the Reinsurer, or (iv) the Reinsurer takes any action to effectuate or authorize any of the foregoing;
(b)    (A) the Reinsurer fails to (1) fund the Trust Account for any amounts not subject to a good faith dispute that are required to be deposited therein by the Reinsurer in accordance with Section 9.5 and with the terms of the Trust Agreement, or (2) perform or observe any of the material terms and conditions of this Agreement or the Trust Agreement, including a failure to pay the Company any amount due under this Agreement that is not subject to a good faith dispute; and (B) any such failure continues for twenty (20) Business Days after the date on which the Reinsurer becomes aware of such failure, including, but not limited to, the date on which the Company notifies the Reinsurer in writing of such failure, it being understood that a breach by the Reinsurer of Section 14.1 or Section 14.2, or any representation or warranty contained in this Agreement shall not constitute a Recapture Event; 
(c)    with respect to a recapture of solely the Reinsured Contracts retroceded to the Retrocessionaire, if applicable and if any, the Retrocessionaire fails to perform or observe any of the material terms and conditions of the Retrocession Trust Agreement and such failure continues for twenty (20) Business Days after the expiration of any applicable cure period in the Retrocession Trust Agreement;
(d)    a Reinsurance Credit Event continues for the lesser of (x) ninety (90) calendar days and (y) the period from inception of such Reinsurance Credit Event to the “as of” date of the Company’s next statutory financial statement, and the Reinsurer has not taken action which would enable the Company to receive full statutory financial statement credit for reinsurance ceded to the Reinsurer under this Agreement, and the Company has acted in compliance with its obligations under Section 17.1(c); or
(e)    (i) the Reinsurer’s RBC Ratio is below [REDACTED] in any quarterly period and (ii) the Reinsurer has not within thirty (30) calendar days of such shortfall provided the Company with evidence reasonably satisfactory to the Company that the Reinsurer has either (i) restored its RBC Ratio to [REDACTED] or (ii) entered into a letter of intent whereby the Reinsurer and an affiliated insurance company agree to effect a novation causing this Agreement to be novated to such an affiliated insurance company that has capital in excess of [REDACTED] and an RBC Ratio (or the local equivalent if not a U.S. entity) in excess of [REDACTED], subject only to obtaining any required regulatory and third party consents.  Such affiliated insurance company must either be authorized in the domiciliary state of the Company (provided that such domiciliary state is a jurisdiction with substantially similar requirements as the Company’s domiciliary state as of the Closing Date) or provide collateral, sufficient to provide the Company full financial statement credit, in accordance with the credit for reinsurance requirements of the domiciliary state of the Company (provided that such domiciliary state is a jurisdiction with substantially similar requirements as the Company’s domiciliary state as of the Closing Date). If regulatory and third party consents are not obtained within thirty (30) calendar days of the date of the letter of intent, then the Company may immediately recapture the Reinsured Contracts.

Each calendar quarter, the Reinsurer shall provide to the Company the RBC Ratio of the Reinsurer calculated in accordance with then Applicable Law and Schedule H, (i) based on the Reinsurer’s good faith estimate as of the last day of such calendar quarter (other the last quarter of a calendar year), using, to the extent any factors are not reasonably available, hypothetical amounts derived from reasonable estimation and annualization or (ii) calculated by the Reinsurer as of such calendar year, as applicable.  Each such calculation shall include reasonable supporting detail with respect to such calculation.
The Reinsurer will notify the Company promptly in writing, in reasonable detail, of any Recapture Event or any event or circumstance it becomes aware of that, with the giving of notice or the passage of time, would reasonably be expected to constitute a Recapture Event.  The Company will notify the Reinsurer promptly in writing, in reasonable detail, upon becoming aware of a Recapture Event or any event or circumstance that, with the giving of notice or the passage of time, would reasonably be expected to constitute such a Recapture Event.
8.2.    Notice of Recapture.  
(a)    If a Recapture Event has occurred and is continuing, then the Company shall have the right, but not the obligation, to recapture:
(i)    except in the case of Section 8.1(c), all, but not less than all, of (A) the Reinsurer’s Quota Share of the Business Covered and (B) the Reinsurer’s Quota Share of the Business Covered (as each term is defined in the HLIC Reinsurance Agreement) pursuant to the HLIC Reinsurance Agreement, and
(ii)    in the case of Section 8.1(c), all, but not less than all of (A) the Reinsured Contracts retroceded to the Retrocessionaire pursuant to the Retrocession Agreement and (B) the Reinsured Contracts (as each term is defined in the HLIC Reinsurance Agreement) retroceded to the Retrocessionaire pursuant to the HLIC Retrocession Agreement.
In addition, if the Reinsurer elects to terminate this Agreement with respect to specific Reinsured Contracts pursuant to Section 7.1, then the Company shall be required to recapture the Reinsurer’s Quota Share of such Reinsured Contracts.
(b)    In order to exercise such right to recapture:
(i)    the Company must provide prior written notice to the Reinsurer of its intent to recapture such business within ninety (90) calendar days following (A) receipt of actual written notice from the Reinsurer of the occurrence of a Recapture Event specified in clauses (a), (b), (c), (d) or (e) of Section 8.1 or (B) such time as the Company becomes aware of a Recapture Event specified in clauses (a), (b), (d) or (e) of Section 8.1; 
(ii)    the Company’s written notice of recapture must be delivered following the expiry of any cure periods under Section 8.1 (or if no cure period is applicable, such notice may be delivered at any time) and designate an effective date and time of said recapture (the “Recapture Effective Time”) that is no less than thirty (30) calendar days and no more than sixty (60) calendar days following the date such notice of recapture is delivered; provided, that in the case of a Recapture Event described in Section 8.1(d), the company may designate a Recapture Effective Time that is as of the “as of” date of the Company’s relevant statutory financial statements; and
(iii)    the Recapture Event must be continuing on the date notice is delivered in accordance with Section 8.2(b)(ii) in order for such recapture to be consummated.

8.3.    Recapture Accounting and Settlement.  In the event of a recapture under this Article, the Reinsurer’s sole liability to the Company shall be for payment of the Recapture Payment.  Following any notice of recapture pursuant to this Article, the Company shall deliver to the Reinsurer within thirty (30) calendar days after the Recapture Effective Time, a Monthly Reinsurance Settlement Report for the Monthly Accounting Period ended on the Termination Date and a Terminal Accounting Settlement Report.  In the event of any recapture of only some, but not all, of the Reinsured Contracts under Section 7.1 or Section 8.1(c), the Recapture Payment shall be adjusted according to a mutually acceptable methodology. Within ten (10) Business Days after the finalization of such Monthly Reinsurance Settlement Report and the Terminal Accounting Settlement Report in accordance with Section 8.4, the Recapture Payment specified in the Terminal Accounting Settlement Report shall be paid to the Company by the Reinsurer.  Concurrently therewith, any and all assets remaining in the Trust Account shall be returned to the Reinsurer.  The payment of the Recapture Payment upon recapture shall constitute a complete and final release of the Reinsurer in respect of any and all known and unknown present and future obligations or liability of any nature to the Company under this Agreement.  
8.4.    Determination of Recapture Payment; Disputes.  
(a)    After the receipt by the Reinsurer from the Company of the Monthly Reinsurance Settlement Report and the Terminal Accounting Settlement Report provided for in Section 8.3, and until such time as such reports are finalized, the Reinsurer and its authorized Representatives shall have, upon prior written notice, reasonable access during normal business hours to the working papers of the Company relating to such reports and the items set forth thereon.  The Reinsurer shall have the right to review such reports and comment thereon for a period of thirty (30) Business Days after receipt of such reports.  Any changes in such reports that are agreed to by the parties within such thirty (30) Business Day review period shall be incorporated into final reports.  In the event the Reinsurer does not dispute such reports within such thirty (30) Business Day review period, such reports shall be deemed final.
(b)    In the event that a dispute arises regarding any item or items in the Terminal Accounting Settlement Report within such thirty (30) Business Day review period, each of the parties shall prepare separate written reports of such item or items remaining in dispute and refer such reports to the Third Party Actuary within ten (10) calendar days after the expiration of such thirty (30) Business Day review period.
(c)    The Third Party Actuary shall resolve within thirty (30) calendar days the dispute regarding such item or items in the Terminal Accounting Settlement Report; provided, however, that the dollar amount of each item in dispute shall be determined within the range of dollar amounts proposed by the Company and the Reinsurer; and provided, further, that the Third Party Actuary shall not review any items that are not in dispute.
(d)    The determinations by the Third Party Actuary as to the items in dispute shall be in writing and shall be final and binding on the parties.  The fees, costs and expenses of retaining the Third Party Actuary shall be shared equally by the Company and the Reinsurer.
(e)    Any dispute with respect to the Monthly Reinsurance Settlement Reports for the Monthly Accounting Period ended on the Termination Date shall be governed by Section 6.1.  In the event that there are disputes with respect to both the Monthly Reinsurance Settlement Report for the Monthly Accounting Period in which a recapture occurred pursuant to Section 6.1 and the Terminal Accounting Settlement Report pursuant to this Section 8.4, the parties shall require that the Third Party Actuary resolve all such disputes concurrently.

(f)    In the event that a dispute arises regarding the Fair Market Value of the assets transferred pursuant to item (iv) of Schedule C, as part of the determination of the Recapture Payment, the parties shall prepare separate written reports of such item or items remaining in dispute and refer such reports to the Valuation Expert within ten (10) calendar days after first discussing such value.  The Valuation Expert shall resolve within thirty (30) calendar days the dispute regarding such value; provided, however, that the dollar amount of the item in dispute shall be determined within the range of dollar amounts proposed by the Company and the Reinsurer.  The Valuation Expert shall not review any items that are not in dispute or any assumptions underlying any calculations provided to it, and shall adhere to the methodologies employed by the Reinsurer for performing any such calculations.  The determination by the Valuation Expert as to the item in dispute shall be in writing and shall be final, binding and conclusive on the parties absent manifest error.  The fees, costs and expenses of retaining the Valuation Expert shall be shared equally by the Company and the Reinsurer.
8.5.    Partial Recaptures and Liability.  Except as otherwise set forth in Section 7.1 and Section 8.1(c), partial recaptures shall not be permitted under this Agreement unless otherwise agreed to by the parties.
ARTICLE IX 
TRUST ACCOUNT  
9.1.    Trust Account.  In order to secure the obligations of the Reinsurer hereunder, the Company and the Reinsurer, on even date herewith, have entered into a trust agreement in the form attached hereto as Exhibit 1 (the “Trust Agreement”), pursuant to which the Reinsurer as grantor established the Trust Account with the Trustee for the benefit of the Company.  In addition, the Company, the Reinsurer and the Retrocessionaire, if the Closing will occur and on the day of the Closing, or if the Closing has occurred and at any time after the Closing (a) all conditions precedent to the closing of the transaction requiring implementation of the Retrocession Trust Agreement, the form of which is attached hereto as Exhibit 2 (the “Retrocession Trust Agreement”) and the Retrocession Agreement are satisfied (as certified in writing by the Reinsurer), and (b) the Reinsurer and the Retrocessionaire are ready, willing and able to execute and deliver the Retrocession Agreement and the Retrocession Trust Agreement and to perform their respective obligations thereunder to be performed at the closing of the transactions contemplated therein, then the Company shall, upon the written request of the Reinsurer (provided that written request is delivered to the Company not later than three (3) Business Days prior to the intended date of the closing of the transactions requiring implementation of the Retrocession Trust Agreement and the Retrocession Agreement), enter into the Retrocession Trust Agreement in the form attached hereto as Exhibit 2, together with any conditions, modifications or limitations with respect to such form that, individually and in the aggregate, would have an impact on the Company that is either insignificant or not adverse (as determined by the Company in good faith and reasonably taking into account the economic and accounting impact of such condition, modification or limitation on the Company), pursuant to which the Retrocessionaire as grantor shall establish the Retrocession Trust Account with the Trustee for the benefit of the Company and the Reinsurer.  The Trustee (i) is a qualified United States financial institution authorized to act as a fiduciary of a trust and (ii) is not a parent, subsidiary or Affiliate of the Company, the Reinsurer or the Retrocessionaire, if applicable.  Each of the Trust Account and the Retrocession Trust Account, if applicable, must be clearly designated as a segregated account on the books, records and information systems of the Trustee.  
9.2.    Value of Assets in Trust.  Except as otherwise provided in Section 4.3, assets in the Trust Account shall be valued according to their then-current Book Value, including accrued interest, and shall consist only of Eligible Trust Account Assets.

9.3.    Depositing Assets in Trust.  Prior to depositing assets with the Trustee, the Reinsurer or, if the Company is depositing assets into the Trust Account on behalf of the Reinsurer, the Company, will execute assignments or endorsements in blank, or transfer legal title to the Trustee of all shares, obligations, or any assets requiring assignments, in order that the Company, or the Trustee upon direction of the Company, may whenever necessary negotiate these assets without the consent or signature from the Reinsurer or any other entity.
9.4.    Settlements of Account.  All settlements of account between the Company and the Reinsurer shall be made in cash or its equivalent.
9.5.    Rebalancing the Trust Account.  If the Trust Account Balance as of the end of any calendar month after the Closing Date is less than (x) the Required Balance as set forth in the statement contemplated by Section 6.2(b) for such calendar month, minus if applicable, amounts withdrawn by the Company in accordance with Section 9.8 that are subject to a good faith dispute, provided that such reduction shall only be permitted to the extent that such disputed amount has not already been reflected in the NAIC Reserves incorporated in the Required Balance, minus (y) if applicable, the Retrocession Trust Account Balance (if any) as set forth in such statement, then, unless such shortfall shall have been cured by assets deposited into the Retrocession Trust Account, the Reinsurer shall deposit additional Eligible Trust Account Assets into the Trust Account within fifteen (15) Business Days following the date such shortfall is determined so that the Trust Account Balance is no less than the Required Balance set forth in such statement, minus if applicable, amounts withdrawn by the Company in accordance with Section 9.8 that are subject to a good faith dispute, provided that such reduction shall only be permitted to the extent that such disputed amount has not already been reflected in the NAIC Reserves incorporated in the Required Balance, minus if applicable, the Retrocession Trust Account Balance (if any) set forth in such statement; provided, however, that as of and after the occurrence of a Reinsurance Credit Event and provided that a statutory trust is put in place to secure reinsurance credit in accordance with Section 17.1, for purposes of any provision of this Agreement, if applicable, the Retrocession Trust Account Balance shall not be subtracted for purposes of the calculations under the preceding sentence other than, if applicable, amounts withdrawn by the Company in accordance with Section 9.8 that are subject to a good faith dispute, provided that such reduction shall only be permitted to the extent that such disputed amount has not already been reflected in the NAIC Reserves incorporated in the Required Balance.  Without limiting the foregoing, if an asset in the Trust Account no longer qualifies as an Eligible Trust Account Asset, then, within fifteen (15) Business Days following the date on which the Reinsurer becomes aware of such circumstance, the Reinsurer shall replace such asset with one or more Eligible Trust Account Assets in accordance with Section 9.7.  Notwithstanding the foregoing, should any asset in the Trust Account become impaired under SAP the Reinsurer shall, as promptly as practicable but in no event later than five (5) Business Days following the date on which the Reinsurer becomes aware of such circumstances, deposit or substitute additional assets constituting Eligible Trust Account Assets in accordance with this Section 9.5 or Section 9.7, to the extent required such that the Trust Account Balance is no less than the balance required as of the end of the month preceding the month in which the impairment occurred. 
9.6.    Trust Account Withdrawals.  If, as of any month end on and after the Closing Date, (x) the Trust Account Balance exceeds the Required Balance, minus if applicable, amounts withdrawn by the Company in accordance with Section 9.8 that are subject to a good faith dispute, provided that such reduction shall only be permitted to the extent that such disputed amount has not already been reflected in the NAIC Reserves incorporated in the Required Balance, minus (y) if applicable, the Retrocession Trust Account Balance (if any), then within ten (10) Business Days after the Reinsurer’s receipt of a Monthly Reinsurance Settlement Report for such month end, the Reinsurer may make a written demand to the Trustee to release to the Reinsurer assets in the Trust Account and the Trustee shall release such assets, subject to 

the Company’s prior written consent, which consent shall be granted if all of the following conditions and those set forth in clause (x) above are satisfied after any such withdrawal and shall be deemed granted if the Company has not provided the Reinsurer and Trustee a written response within five (5) Business Days of receipt of Reinsurer’s written demand: (a) no Recapture Event has occurred and is continuing (unless a recapture in respect of such Recapture Event is no longer exercisable); (b) the Book Value, including accrued interest for so long as such interest is credited by the Trustee, of the Trust Account assets shall be no less than the Required Balance, minus if applicable, amounts withdrawn by the Company in accordance with Section 9.8 that are subject to a good faith dispute, provided that such reduction shall only be permitted to the extent that such disputed amount has not already been reflected in the NAIC Reserves incorporated in the Required Balance, minus if applicable, the Retrocession Trust Account Balance (if any) after such withdrawal; and (c) all the assets held in the Trust Account after such withdrawal are Eligible Trust Account Assets; provided, however, that with respect to any withdrawal and transfer of cash in connection with the payment by the Reinsurer of an amount specified in a Monthly Reinsurance Settlement Report, if the conditions in (x) and (a) through (c) are all met, the Reinsurer may direct the Trustee to release such cash to the Company without prior notice to or approval by the Company, upon presentation to the Trustee of (i) a copy of the applicable Monthly Reinsurance Settlement Report delivered by the Company to the Reinsurer and (ii) a certification to the Trustee, with a copy to the Company, that such conditions are met.
9.7.    Substitution of Assets.  The Reinsurer shall have the right to instruct the Trustee to substitute or exchange assets contained within the Trust Account provided that (i) the replacement assets are Eligible Trust Account Assets; (ii) the replacement assets shall be deposited in the Trust Account on the same day of substitution or exchange, (iii) the aggregate Book Value, including accrued interest for so long as such interest is credited by the Trustee, of the replacement assets are at least equal to the aggregate Book Value, including accrued interest for so long as such interest is credited by the Trustee, of the assets being removed from the Trust Account; and (iv) the aggregate Fair Market Value, including accrued interest for so long as such interest is credited by the Trustee, of the replacement assets is at least equal to the aggregate Fair Market Value, including accrued interest for so long as such interest is credited by the Trustee, of the assets being removed from the Trust Account.
9.8.    Permitted Use of Trust Account Assets.
(a)    The Company shall be permitted to withdraw assets from the Trust Account only if (x) a Recapture Event has occurred and is continuing and (y) the Reinsurer has not paid an amount in full that is due and owing to the Company under this Agreement and any applicable payment period respect thereof; and then only for one or more of the following purposes: (1) to pay, or reimburse the Company for, amounts due, but not yet recovered from, the Reinsurer under this Agreement in order to satisfy liabilities of the Reinsurer under this Agreement; and (2) to pay expenses relating to the withdrawal, liquidation or enforcement of legal rights with respect to the Trust Account assets to the extent such amounts are not being disputed by the Reinsurer in good faith.
(b)    Provided that the Retrocession Agreement and Retrocession Trust Agreement are applicable to this Agreement, the Reinsurer acknowledges and agrees that pursuant to Section 9.8 of the Retrocession Agreement and the Retrocession Trust Agreement, the Company shall be permitted to withdraw assets from the Retrocession Trust Account only if (x) a Recapture Event has occurred and is continuing and (y) the Reinsurer has not paid an amount in full that is due and owing to the Company under this Agreement relating to the Reinsured Contracts retroceded to the Retrocessionaire and then only in an amount not to exceed the Retrocessionaire’s Quota Share of such amount and in accordance with the terms and conditions of the Retrocession Trust Agreement.

9.9.    Excess Withdrawals.  The Company shall promptly return (or instruct the Trustee to return) to the Reinsurer any assets withdrawn from the Trust Account (and interest paid or accrued thereon) in excess of the actual amounts required for Section 9.8, and such excess amount shall bear additional interest calculated at a rate equal to the Three-Month LIBOR plus thirty (30) basis points per annum as computed on the basis of (i) a 360-day year composed of twelve (12) 30-day months and (ii) daily compounding, from the time that such excess amount is outstanding until such excess amount is returned to the Reinsurer.  Pending such return, the Company shall hold all such amounts separate and apart from its other assets in trust for the benefit of the Reinsurer.
9.10.    Application of this Article.  All of the foregoing provisions of this Article are to be applied without diminution because of insolvency on the part of either the Company or the Reinsurer.  In the event that a statutory trust is put in place to secure reinsurance credit, the parties will revise the provisions of this Article IX as necessary to conform to the requirements under Applicable Law of such a statutory trust, including to (i) provide that the Retrocession Trust Account Balance (if applicable and if any), shall not be subtracted from the Required Balance for purposes of any provision of this Agreement, (ii) eliminate conditions applicable to the Reinsurer furnishing or withholding its consent to Trust Account withdrawals, (iii) expand the Company’s rights to withdraw assets from the Trust Account and (iv) value the assets in the Trust Account at Fair Market Value and (v) make such other changes as may be a necessary or appropriate for consistency with Applicable Law with respect to credit for reinsurance.
9.11.    Retrocession on Funds Withheld Basis.  If at any time all of the reinsurance provided pursuant to the Retrocession Agreement, if applicable, is on a funds withheld basis, references to the Retrocession Trust Account, Retrocession Trust Account Balance and Retrocession Trust Agreement shall not apply to this Agreement.

ARTICLE X 
DURATION AND TERMINATION
10.1.    Duration.  Except as otherwise provided herein, this Agreement shall be unlimited in duration.
10.2.    Termination.  This Agreement will terminate on the earlier of:  (i) the date the Company’s liability under the Business Covered terminates; (ii) the date this Agreement is terminated in accordance with Article VII; or (iii) the date the Reinsurer’s Quota Share of the Business Covered is recaptured by the Company in accordance with Article VIII; in each case following payment by each party of all amounts due to the other under this Agreement (any such date, the “Termination Date”).
 
ARTICLE XI
INSOLVENCY
11.1.    Payments.  In the event of the insolvency of the Company, all reinsurance ceded, renewed or otherwise becoming effective under this Agreement shall be payable by the Reinsurer directly to the Company or its liquidator, receiver or statutory successor pursuant to the terms of this Agreement (except if the Reinsurer, with the consent of the contractholders of the Reinsured Contracts, has assumed policy obligations of the Company as its direct obligations to the payees under the Reinsured Contracts, in substitution for the obligations of the Company to such payees), without diminution because of the insolvency of the Company.  It is agreed and understood, however, that (i) in the event of the insolvency of the Company, the liquidator, receiver or statutory successor of the Company shall give the Reinsurer written notice of the 

pendency of a claim against the insolvent Company on a Reinsured Contract within a reasonable time after such claim is filed in the insolvency proceeding and (ii) during the pendency of such claim the Reinsurer may investigate such claim and interpose, at its own expense, in the proceeding where such claim is to be adjudicated any defenses which it deems available to the Company, its liquidator, receiver or statutory successor.
11.2.    Expenses.  It is further understood that any expense thus incurred by the Reinsurer pursuant to Section 11.1 shall be chargeable, subject to court approval, against the insolvent Company as part of the expense of liquidation to the extent of a proportionate share of the benefit which may accrue to the Company solely as a result of the defense undertaken by the Reinsurer.  Where two or more assuming reinsurers are involved in the same claim and a majority in interest elect to interpose defenses to such claim, the expense shall be apportioned in accordance with the terms of this Agreement as though such expense had been incurred by the Company.
ARTICLE XII 
DISPUTE RESOLUTION REGARDING ADMINISTRATION
12.1.    Resolution of Disputes.  Any dispute between the Company and the Reinsurer arising out of the provisions of Section 3.9 of this Agreement, or concerning its interpretation or validity, whether arising before or after termination of this Agreement, shall be submitted to arbitration in the manner set forth in this Article XII.  Either party may initiate arbitration of any such dispute by giving written notice to the other party of its intention to arbitrate in accordance with Section 12.4; provided, however, that prior to the commencement of any arbitration hereunder, the parties must first settle and pay any amounts outstanding and not in dispute.
12.2.    Good Faith Negotiation of Disputes.  As a condition precedent to arbitration hereunder, any dispute arising out of or in connection with Section 3.9 of this Agreement, before or after its expiry or termination, shall be attempted to be resolved by negotiation between the parties.  Either party may give notice to the other party detailing the matter under dispute and requesting the other party to engage in negotiation.  Within fourteen (14) calendar days of the receipt of such notice, each party shall appoint a designated officer who together will attempt to resolve the dispute.  The officers shall meet at a mutually agreeable location as early as possible and as often as reasonably necessary, in order to gather and furnish the other with all appropriate and relevant information concerning the matter under dispute. The officers shall discuss and negotiate in good faith without the necessity of any formal proceedings.  During the negotiation process, all reasonable requests made by one officer to the other for information will be honored. The specific format for such discussions will be mutually decided by the designated officers.  The parties agree to refer the dispute to an arbitration panel, in accordance to the procedure set out in Section 12.3 below, if the officers cannot resolve the dispute within thirty (30) calendar days from the date of the negotiation notice being served in accordance with this Section.  The parties may agree in writing to extend the negotiation period for an additional thirty (30) calendar days.
12.3.    Composition of Panel.  The arbitration shall be conducted by a panel of three (3) arbitrators, who shall be disinterested current or former executive officers of life insurance companies other than the two parties to this Agreement or their Affiliates.  Each party shall appoint one of the arbitrators, who shall in turn select the third.  In the event that either party should fail to choose an arbitrator within thirty (30) calendar days after the other party has given notice of its arbitrator appointment, that party may choose two arbitrators, who shall in turn choose a third arbitrator.  If the two arbitrators are unable to agree upon the selection of a third arbitrator within thirty (30) calendar days following their appointment, the third 

arbitrator shall be selected in accordance with the AIDA Reinsurance and Insurance Arbitration Society – US (“ARIAS-US”) required selections process.
12.4.    Notice of Intention to Arbitrate.  The party requesting arbitration shall give written notice of its intention to arbitrate by registered mail or a recognized overnight courier to the other party.
12.5.    Choice of Forum.  Any arbitration instituted pursuant to this Article XII shall be held in New York, New York or such other place as the parties may mutually agree.
12.6.    Procedure Governing Arbitration.  The arbitration shall be conducted in accordance with the procedures of ARIAS-US.  The arbitration panel will interpret Section 3.9 of this Agreement as an honorable engagement and shall make its decision considering the custom and practice of the life insurance industry.  The arbitration panel shall be relieved of all judicial formality and will not be bound by the strict rules of procedure and evidence.  The arbitration panel shall use its best efforts to hold the proceeding within three (3) months after selection of the third arbitrator in accordance with Section 12.3 above. 
12.7.    Arbitration Award.  The arbitration panel shall render its decision within sixty (60) calendar days after termination of the proceeding unless the parties consent to an extension, which decision shall be in writing, stating the reason therefor.  The decision of the majority of the panel shall be final and binding on the parties to the proceeding except to the extent otherwise provided in the Federal Arbitration Act.  Judgment upon the award may be entered in any court having jurisdiction pursuant to the Federal Arbitration Act.
12.8.    Cost of Arbitration.  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 and the remaining costs of the arbitration.
12.9.    Limit of Authority.  It is agreed that the arbitrators shall have no authority to impose any punitive, exemplary or consequential damage awards on either of the parties hereto.

ARTICLE XIII 
DAC TAX ELECTION
13.1.    The Company and the Reinsurer each acknowledge that it is subject to taxation under Subchapter “L” of the Internal Revenue Code of 1986 (as amended).
13.2.    With respect to this Agreement, the Company and the Reinsurer agree to the following pursuant to Section 1.848-2(g)(8) of the Income Tax Regulations issued December 1992 whereby:
(i)    Each party agrees to attach a schedule to its federal income tax return which identifies this Agreement for which the joint election under the regulation has been made;
(ii)    The party with net positive consideration (as defined in the regulations promulgated under Section 848 of the Internal Revenue Code of 1986, as amended) for this Agreement for each taxable year agrees to capitalize specified policy acquisition expenses with respect to this Agreement without regard to the general deductions limitation of Section 848(c)(1);
(iii)    Each party agrees to exchange information pertaining to the amount of net consideration under this Agreement each year to ensure consistency; and

(iv)    This election shall be effective for the year that this Agreement was entered into and for all subsequent years that this Agreement remains in effect.
ARTICLE XIV 
CONFIDENTIALITY
14.1.    Confidentiality.  The Reinsurer agrees to protect and hold all nonpublic personal contractholder information provided to the Reinsurer by the Company in conjunction with this Agreement in strict confidence and to take reasonable steps necessary to protect the nonpublic personal information from unauthorized or inadvertent disclosure.  Nonpublic personal information includes, but is not limited to, health information, financial information and other information provided to the Reinsurer by the Company in conjunction with carrying out the Reinsurer’s obligations under this Agreement.  No party shall make, or permit any person to make, any public announcement concerning this Agreement or the transactions contemplated hereby except as required by Applicable Law, or with the prior written consent of the other party.  If the disclosing party is required by Applicable Law to make a filing with a regulator, the disclosing party will (i) use its reasonable best efforts to notify the other party (except in connection with the disclosure of such confidential information to a Governmental Authority in connection with a regulatory exam or inquiry), and (ii) request confidentiality with respect to the specific terms of this Agreement and the transactions contemplated hereby if it has the option to do so and the filing is not already confidential.  Further, both the Reinsurer and the Company agree they may not use the name, trademarks, service marks, trade names, or other indicia of origin of the other party in connection with any advertising, publicity materials or activities, customer lists or other public communications without the prior written consent of the other party.  In the event of any violation of this Section 14.1, the injured party shall have, in addition to any other rights and remedies, the right and remedy of injunctive relief from a court of competent jurisdiction.
14.1.    Disclosure.  Notwithstanding the foregoing, neither the Company nor the Reinsurer will be prohibited from disclosing such confidential information described in Section 14.1 (i) to its retrocessionaires or hedge or other risk mitigation counterparties in connection with its retrocession or hedging of all or a portion of the Reinsured Risks, so long as any such retrocessionaires or hedge counterparties are bound to confidentiality obligations in respect thereof that are substantially similar to those contained herein, (ii) to its and its Affiliates’ directors, officers and employees who have a need for such information in the conduct of its business (it being understood that the Persons to whom such disclosure is made will be informed of the confidential nature of such information and instructed to keep such information confidential), (iii) as might be necessary, during the course of external audits, (iv) to the extent it is required to disclose any such information in its statutory filings, (v) other than with respect to nonpublic personal information, to the extent it is required to provide such information to any rating agency, or (vi) as required by Applicable Law or any order, request, requirement, inquiry or subpoena by any Governmental Authority.
14.2.    Survival.  The Reinsurer’s obligation to maintain the confidentiality of nonpublic personal contractholder information provided to the Reinsurer shall survive termination of this Agreement and shall remain in effect for as long as the nonpublic personal information remains in the Reinsurer’s possession.
 
ARTICLE XV 
REPRESENTATIONS AND COVENANTS
15.1.    Representations and Warranties of the Company.  To the extent relating to the Reinsured Contracts and Covered Liabilities, the Company represents and warrants to the Reinsurer as follows as of the SAPA Execution Date and as of the SAPA Closing Date, except (i) for such representations and 

warranties which address matters only as of a specific date, which representations and warranties shall be true and correct as of such specific date, (ii) as disclosed in any HLIC SEC Reports filed with the SEC and publicly available on the internet website of the SEC at least ten (10) Business Days prior to the SAPA Execution Date (excluding any disclosure set forth in sections titled “Risk Factors” or “forward-looking statements” or in any other section to the extent the disclosure in such other section is a forward-looking statement or cautionary, predictive or forward-looking in nature), and (iii) as set forth in the corresponding numbered disclosure schedule provided on the SAPA Execution Date (the “Disclosure Schedule”):
(a)    Organization.  The Company (i) is a life insurance company duly organized, validly existing and in good standing under the laws of the State of Connecticut, (ii) is duly qualified as a foreign corporation to do business and is in good standing in each jurisdiction where the character of its owned, operated or leased properties or the nature of its activities makes such qualification necessary and (iii) has the requisite corporate power and authority to operate its business as now conducted, except in the case of clause (ii), where the failures to be so qualified, individually or in the aggregate, would not reasonably be expected to have a Company Material Adverse Effect.
(b)    Authorization.  The Company has all requisite corporate power to enter into, consummate the transactions contemplated by, and carry out its obligations under, this Agreement and the Trust Agreement.  The execution and delivery by the Company of this Agreement and the Trust Agreement, and the consummation by the Company of the transactions contemplated by, and the performance by the Company of its obligations under, this Agreement and the Trust Agreement have been duly authorized by all requisite corporate action on the part of the Company.  Upon execution and delivery of this Agreement and the Trust Agreement, this Agreement and the Trust Agreement will be duly executed and delivered by the Company, and (assuming due authorization, execution and delivery by each other party to this Agreement and the Trust Agreement) this Agreement and the Trust Agreement will constitute, the legal, valid and binding obligation of the Company, enforceable against it in accordance with its terms, subject to the effect of any applicable bankruptcy, reorganization, insolvency, moratorium, rehabilitation, liquidation, fraudulent conveyance or similar Applicable Law relating to or affecting creditors’ rights generally and subject, as to enforceability, to the effect of general equitable principles (regardless of whether such enforceability is considered in a proceeding in equity or at law).  The Company has made available to the Reinsurer copies of the organizational documents of the Company, in each case as amended and in effect as of the SAPA Execution Date. 
(c)    No Conflict or Violation.  The execution and delivery of each of this Agreement and the Trust Agreement does not, and the performance by the Company of its obligation hereunder and under the Trust Agreement will not, conflict with, or result in any violation of or default (with or without notice or lapse of time, or both) under, or give rise to a right of termination or cancellation under, any provision of (i) the articles or certificate of incorporation and by-laws or comparable organizational documents of the Company, (ii) any material contract, permit, order, judgment or decree to which the Company is a party, (iii) any order of any Governmental Authority or (iv) any Applicable Law, except for such violations or defaults which would not reasonably be expected to have a Company Material Adverse Effect on the Business Covered or the Company’s ability to satisfy its obligations hereunder and under the Trust Agreement.
(d)    No Consents or Approvals.  The execution and delivery of each of this Agreement and the Trust Agreement and the performance of the obligations hereunder and thereunder will not require the Company to obtain any consent, approval, order or authorization of, or make any registration, declaration or filing with, any Governmental Authority or other Person, except any consents, approvals, orders, authorizations, registrations, declarations or filings (i) except as disclosed in Section 15.1(d)(i) of the Disclosure Schedule or that have been obtained or made or (ii) those of which the failure to obtain or make 

would not reasonably be expected to have a material adverse effect on the Business Covered or the Company’s ability to satisfy its obligations hereunder and under the Trust Agreement.
(e)    Financial Statements; Absence of Undisclosed Liabilities.
(i)    The Company has made available to the Reinsurer copies of the Statutory Statements.  Except as set forth on Section 15.1(e)(i) of the Disclosure Schedule, the Statutory Statements have been derived from the books and records of the Company and prepared in all material respects in accordance with SAP applied consistently throughout the periods involved, and present fairly, in all material respects, the statutory financial position, results of operations and, if applicable, cash flows of the Company as of their respective dates and for the respective periods covered thereby.  All assets that are, or will be, as applicable, reflected as admitted assets on the Statutory Statements, to the extent applicable, comply, or will comply, as applicable, in all material respects with all Applicable Law.  No material deficiency has been asserted by any Governmental Authority with respect to any of the Statutory Statements that has not been resolved to the satisfaction of the applicable Governmental Authority prior to the date of this Agreement.
(ii)    Section 15.1(e)(ii) of the Disclosure Schedule sets forth a true and complete list of all accounting practices used by the Company in connection with the Company’s Statutory Statements that depart from the National Association of Insurance Commissioners’ Accounting Practices and Procedures Manual (each such departure, a “Permitted or Prescribed Accounting Practice”), if any. All such Permitted or Prescribed Accounting Practices have been approved by the Connecticut Insurance Department in writing at or prior to the time used by the Company in connection with the applicable Statutory Statement. Since January 1, 2014, neither the Company nor any Person acting on behalf of the Company has sought approval for a permitted accounting practice that was either (A) not granted by the Connecticut Insurance Department or (B) granted by the Connecticut Insurance Department but not used by the Company in connection with the applicable Statutory Statement.
(iii)    When delivered, the Future Quarterly Statutory Statements of the Company and Future Annual Statutory Statements of the Company will be derived from the books and records of the Company and prepared in all material respects in accordance with SAP consistently applied by the Company throughout the periods involved and present fairly, in all material respects, the statutory financial position, results of operations and, if applicable, cash flows of the Company, as applicable, as at the respective dates and for the respective periods indicated.  All assets that will be reflected as admitted assets on the Future Quarterly Statutory Statements of the Company and Future Annual Statutory Statements of the Company will comply in all material respects with all Applicable Law.
(iv)    The Company maintains internal accounting controls that provide reasonable assurance that: (A) records are maintained in reasonable detail and accurately and fairly reflect the transactions and dispositions of the assets of the Company, (B) transactions are recorded as necessary to permit preparation of financial statements in accordance with GAAP or SAP, as applicable, and that receipts and expenditures of the Company are being made only in accordance with authorizations of management and directors of the Company and (C) controls prevent or timely detect unauthorized acquisition, use or disposition of the Company’s assets that could have a material effect on the financial statements of the Company.
(v)    The Company has made available to the Reinsurer true and correct copies of the unaudited annual statutory financial statements of each of the Separate Accounts as of and for the annual periods ended December 31, 2014, 2015 and 2016 (the “Separate Account Annual Statements”), in each case, as filed with the Connecticut Insurance Department, together with the exhibits, schedules and notes thereto and any affirmations and certifications filed therewith.  The Separate Account Annual Statements have been prepared in accordance with SAP applied consistently throughout the periods involved, and present fairly, 

in all material respects, the statutory financial position and results of operation of such Separate Accounts as of their respective dates and for their respective periods covered thereby.
(vi)    Except (A) as set forth in Section 15.1(e)(vi) of the Disclosure Schedule, (B) to the extent reserved for in the Financial Statements as of the Effective Date or disclosed in the notes thereto, (C) for Liabilities and obligations incurred in the ordinary course of business since the Effective Date, there are no Liabilities or obligations of the Company of any nature (whether accrued, absolute, contingent or otherwise) of a type that would be required to be disclosed, reflected or reserved for on a balance sheet or disclosed in the notes thereto, prepared in accordance with SAP or GAAP, as applicable.
(f)    Absence of Certain Changes.  Except as set forth in Section 15.1(f) of the Disclosure Schedule or as contemplated by this Agreement, from the Effective Date to the date of this Agreement, (i) the Company has conducted the business of the Company in the ordinary course, (ii) there has not occurred any event or events that, individually or in the aggregate, have had, or would reasonably be expected to have, a Company Material Adverse Effect and (iii) other than any action that would result in Leakage or Permitted Leakage (each as defined in the Stock and Asset Purchase Agreement), neither the Company nor any of its Affiliates has taken any action or failed to take any action that, if taken or failed to be taken after the SAPA Execution Date without the consent of Hopmeadow Acquisition, Inc., would constitute a breach of the Reinsured Business Pre-Closing Covenants had such Reinsured Business Pre-Closing Covenants been in effect from the Effective Date to the SAPA Execution Date.
(g)    Books and Records.  The books and records of the Company and the business conducted by the Company to the extent relating to the Covered Liabilities (i) have been maintained in all material respects in accordance with Applicable Law and (ii) accurately present and reflect, in all material respects, the business conducted by the Company and all transactions and actions related thereto.
(h)    Absence of Litigation.
(i)    Except as set forth in Section 15.1(h) of the Disclosure Schedule, as of the SAPA Execution Date, there are no Actions (other than individual claims under insurance or annuity policies and contracts, or any binders, slips, certificates, endorsements or riders thereto, within applicable policy limits) reasonably expected to result in (A) damages in excess of $1,000,000 or (B) that seek an injunction reasonably expected to materially affect the conduct of the business conducted by the Company to the extent relating to the Covered Liabilities, pending or, to the Knowledge of the Company, threatened in writing, against the Company.
(ii)    There are no Actions pending or, to the Knowledge of the Company, threatened against the Company or any of its Affiliates that question the validity of, or seek injunctive relief with respect to, this Agreement or the Trust Agreement or the right of the Company to enter into this Agreement or the Trust Agreement.
(i)    Brokers.  No reinsurance intermediary, broker or finder has acted directly or indirectly for the Company, nor has it incurred any obligations to pay any reinsurance intermediary, brokerage or finder’s fee or other commission, in connection with the transactions contemplated by this Agreement.
(j)    Compliance with Laws.
(i)    Except as set forth in Section 15.1(j)(i) of the Disclosure Schedule, since January 1, 2014, the Company has not been or currently is in violation in any material respect of any Applicable Laws, Governmental Orders or material agreement with any Governmental Authority, in each case, applicable 

to the extent relating to the Covered Liabilities.  Since January 1, 2014, the Company has not received any written notice, written communication, or, to the Knowledge of Company, oral notification from any Governmental Authority regarding any asserted past or present failure to comply, in any material respect, with any Applicable Law or Governmental Order and, to the Knowledge of the Company, there has not been any threat to provide such notification, in each case, applicable to the extent relating to the Covered Liabilities.
(ii)    Except as set forth in Section 15.1(j)(ii) of the Disclosure Schedule, the Company is not a party to, or bound by, any material Governmental Order or other material agreement with any Governmental Authority (including a consent agreement, memorandum or understanding with, or any commitment letter or similar undertaking to, any Governmental Authority), in each case, applicable to the extent relating to the Covered Liabilities.
(iii)    To the Knowledge of Company, since January 1, 2014, no director or officer of the Company or any of its Affiliates, acting for or on behalf of the Company has, directly or indirectly, (A) violated any applicable Anti-Bribery Laws, (B) violated any Applicable Law pertaining to export control, money laundering or anti-terrorism or (C) established or maintained any unrecorded fund or asset or made false entries in the books and records for the purpose of facilitating any of the matters set forth in clauses (A) and (B) above, in each case, to the extent relating to the Covered Liabilities.
(iv)    The Company and the Separate Accounts have filed all material reports, statements, documents, registrations, filings or submissions required to be filed with any Governmental Authority since January 1, 2014, in each case to the extent relating to the Covered Liabilities, and all such material reports, statements, documents, registrations, filings or submissions were timely filed and complied in all material respects with Applicable Law when filed or as amended or supplemented, and no deficiencies have been asserted by any Governmental Authority with respect to such material reports, statements, documents, registrations, filings or submissions that have not been resolved to the satisfaction of the applicable Governmental Authority prior to the date of this Agreement.
(v)    The Company has made available to the Reinsurer true and correct copies of all material reports, statements, documents, registrations, filings or submissions filed with any Governmental Authority since January 1, 2014 to the SAPA Execution Date, to the extent directly relating to the Covered Liabilities.  No later than five (5) Business Days prior to the SAPA Closing Date, the Seller (under and as defined in the Stock and Asset Purchase Agreement) has also made available to the Buyer (under and as defined in the Stock and Asset Purchase Agreement) true and correct copies of all such material reports, statements, documents, registrations, filings or submissions filed with any Governmental Authority following the SAPA Execution Date through the fifth (5th) Business Day prior to the SAPA Closing Date and, if applicable, has made available to the Buyer (under and as defined in the Stock and Asset Purchase Agreement) within one (1) Business Day of making such filing all such material reports, statements, documents, registrations, filings or submissions filed with any Governmental Authority between the fifth (5th) Business Day prior to the SAPA Closing Date and the SAPA Closing Date, each to the extent relating to the Covered Liabilities.
(k)    Governmental Licenses and Permits.  
(i)    The Company owns, holds or possesses all material governmental qualifications, registrations, licenses, permits or authorizations that are necessary for it to conduct its business and to own or use its assets and properties, as such business, assets and properties are conducted, owned and used on the SAPA Execution Date (collectively, the “Permits”).  
(ii)    Except as set forth in Section 15.1(k)(i) of the Disclosure Schedule, (A) all Permits are valid and in full force and effect in accordance with their terms, (B) the Company is not in default 

or violation, in any material respect, of any of the Permits, (C) the Company is not the subject of any pending or, to the Knowledge of the Company, threatened Action seeking the revocation, suspension, limitation, termination, modification, impairment or non-renewal of any Permit and (D) since January 1, 2014, the Company has not received any written notice or, to the Knowledge of the Company, oral notice from any Governmental Authority regarding (x) any actual or alleged violation of, or failure on the part of the Company to comply with, any term or requirement of any Permit or (y) any actual or potential revocation, withdrawal, suspension, cancellation, termination of, or modification to, any Permit.  Subject to obtaining the consents set forth in Section 15.1(k)(ii) of the Disclosure Schedule, none of the Permits will be subject to revocation, suspension, withdrawal or termination as a result of the consummation of the transactions contemplated by the Stock and Asset Purchase Agreement.
(l)    Insurance Issued by the Insurance Companies. To the Knowledge of Company, except as set forth in Section 15.1(l) of the Disclosure Schedule:
(i)    Since January 1, 2014, all benefits due and payable, or required to be credited, by or on behalf of the Company with respect to Covered Liabilities in force on such dates have in all material respects been paid or credited, as the case may be, in accordance with the terms of the Reinsured Contracts under which they arose, and such payments or credits were not materially delinquent and were paid or credited without material fines or penalties (excluding interest), except for such claims for which the Company believed there was a reasonable basis to contest payment and is taking such action.
(ii)    All policy forms on which in force Reinsured Contracts were issued, and all amendments, applications and certificates pertaining thereto (collectively, the “Policy Forms”), where required by Applicable Law, have been approved by all applicable Governmental Authorities or filed with and not objected to by such Governmental Authorities within the time period provided by Applicable Law for objection, other than such exceptions that would not be materially adverse to the Company and all such Policy Forms comply in all material respects with Applicable Law.  No material deficiencies have been asserted by any Governmental Authority with respect to any such filings which have not been cured or otherwise resolved.
(iii)    Any rates currently used for in force Reinsured Contracts, where required to be filed with or approved by any Governmental Authority, have been so filed or approved, and such rates conform thereto, subject to such exceptions that, individually or in the aggregate, have not had, and would not reasonably be expected to have, a Company Material Adverse Effect.
(iv)    The Reinsured Contracts that are in force or have been in force at any time since January 1, 2014 have been marketed, sold, issued, maintained and administered in compliance, in all material respects, with Applicable Law.
(v)    As of the SAPA Execution Date, there are no material unpaid claims or assessments made against the Company by any state insurance guaranty associations or similar organizations in connection with such association’s insurance guarantee fund.
(vi)    Since January 1, 2014, each Reinsured Contract that is a security has been (A) offered and sold, and all purchase payments under such Reinsured Contracts have been received, pursuant to an effective registration statement under the Securities Act or (B) offered and sold in reasonable reliance upon an applicable exemption from the registration and prospectus delivery requirements of the Securities Act.

(vii)    Since January 1, 2014, each private placement memorandum, prospectus, offering document, sales brochure, sales literature or advertising material, as amended or supplemented, relating to any Reinsured Contract or any Separate Account, as of their respective mailing dates or dates of use, complied in all material respects with Applicable Law.  Since January 1, 2014, all advertising or marketing materials relating to any Reinsured Contract that were required to be filed with FINRA or any other Governmental Authority have been timely filed therewith.
(m)    Actuarial Appraisal; Reserves.The Company has delivered to the Reinsurer a true and correct copy of the actuarial appraisal prepared by Milliman, dated April 21, 2017 and titled “Actuarial Appraisal of Talcott Resolution as of December 31, 2016” and any and all other attachments, opinions, addenda, errata, supplements and modifications thereto as of the date hereof (collectively, the “Actuarial Appraisal”).  As of the SAPA Execution Date, Milliman has not notified the Company or any of its Affiliates in writing that the Actuarial Appraisal is inaccurate in any material respect.  Except as set forth on Section 15.1(m)(i) of the Disclosure Schedule, the factual information and data provided by the Company and its Affiliates in writing to Milliman expressly in connection with the preparation of the Actuarial Appraisal (A) was obtained from the books and records of the Company and the Covered Liabilities, (B) were generated from the same underlying sources and systems that were utilized by the Company and its applicable Affiliates to prepare the Financial Statements as of the Effective Date, (C) was based upon an inventory of in force Reinsured Contracts that were issued by the Company that, at the time of preparation, was complete in all material respects and (D) was accurate in all material respects as of the date so provided, subject in each case to any limitations and qualifications contained in the Actuarial Appraisal.  As of the SAPA Execution Date, Milliman has not issued to the Company or any of its Affiliates, nor does the Company or any of its Affiliates have any pending request for, any new report or errata with respect to the Actuarial Appraisal.
(i)    Section 15.1(m)(ii) of the Disclosure Schedule lists the final versions of all actuarial reports (A) that were prepared since January 1, 2014 to the SAPA Execution Date (other than the Actuarial Appraisal), (B) relate to the Covered Liabilities and (C) were prepared by external actuaries or, to the extent made available to any Governmental Authority, internal actuaries.  The Company has made available to the Reinsurer true and correct copies of all such actuarial reports, together with all attachments, addenda, supplements and modifications thereto.  No later than five (5) Business Days prior to the SAPA Closing Date, the Seller (under and as defined in the Stock and Asset Purchase Agreement) has delivered to the Buyer (under and as defined in the Stock and Asset Purchase Agreement) an update to Section 15.1(m)(ii) of the Disclosure Schedule, prepared as if the phrase “to the SAPA Execution Date” were not included in the first sentence of this paragraph, listing all such actuarial reports prepared following the SAPA Execution Date to the fifth (5th) Business Day prior to the SAPA Closing Date and, if applicable, has delivered to the Buyer (under and as defined in the Stock and Asset Purchase Agreement) updates to such schedule to reflect any such actuarial reports prepared between the fifth (5th) Business Day prior to the SAPA Closing Date and the SAPA Closing Date.  The Seller (under and as defined in the Stock and Asset Purchase Agreement) has made available to the Buyer (under and as defined in the Stock and Asset Purchase Agreement) true and correct copies of all such actuarial reports, together with all attachments, addenda, supplements and modifications thereto relating to such update.
(ii)    The Reserves of the Company that relate solely to the Covered Liabilities, reflected in its Statutory Statements, except as otherwise noted in such Statutory Statements and notes thereto, (A) were computed in all material respects in accordance with generally accepted actuarial standards consistently applied and were fairly stated in accordance with sound actuarial provisions, (B) were computed on the basis of assumptions consistent with those used in computing the corresponding items in the Statutory Statements for the prior year, (C) were based on actuarial assumptions which produced reserves at least as 

great as those called for in any contract provision as to reserve basis and method, and are in accordance with all other contract provisions and (D) satisfied the requirements of all Applicable Law in all material respects.
(n)    Except for the representations and warranties contained in subsections (j), (l) and (m) of this Section 15.1, the Company makes no representations or warranties concerning the Business Covered, including any representations or warranties concerning data, the accuracy of any models with respect to the Business Covered, or the adequacy or sufficiency of Reserves.
(o)    Separate Accounts.
(i)    Section 15.1(o)(i) of Disclosure Schedule sets forth a list of all Separate Accounts established by the Company including an indication of whether each such Separate Account is (i) registered under the Investment Company Act (and, if applicable, the Investment Company Act registration file number applicable to such Separate Account) or (ii) associated with a Reinsured Contract that has been offered to a contractholder 1that is or is deemed to constitute the assets of an “employee benefit plan” within the meaning of Section 3(3)  of ERISA or an “individual retirement annuity” within the meaning of Section 4975 of the Code (collectively, “ERISA Separate Accounts”).  No later than five (5) Business Days prior to the SAPA Closing Date, the Seller (under and as defined in the Stock and Asset Purchase Agreement) has delivered to the Buyer (under and as defined in the Stock and Asset Purchase Agreement)an updated copy of such list for all Separate Accounts established following the SAPA Execution Date to the fifth (5th) Business Day prior to the SAPA Closing Date and shall have delivered to the Buyer (under and as defined in the Stock and Asset Purchase Agreement) an update, if any, with respect to such disclosure on the schedule on each Business Day between the fifth (5th) Business Day prior to the SAPA Closing Date and the SAPA Closing Date.  To the Knowledge of Company, since January 1, 2014, the Company, to the extent either would be regarded as a “disqualified person” or “party in interest” (as defined in Section 4975 of the Code and Section 3(14) of ERISA, respectively) has not engaged in any violation of any fiduciary duty under ERISA or any nonexempt prohibited transaction under Section 406 of ERISA or Section 4975 of the Code with respect to the ERISA Separate Accounts, in each case, that (A) individually or in the aggregate, have had, or would reasonably be expected to have, a material liability to the Company or (B) that result in any way from application of the definition of “fiduciary” under Department of Labor Regulation Section 2510.3-21(c), as applicable beginning June 9, 2017.  The Company does not have any general account that is subject to Title I of ERISA or Section 4975 of the Code by reason of the application of John Hancock Mutual Life Ins. v. Harris Trust & Sav. Bank (92-1074), 510 U.S. 86 (1993) after taking into account Department of Labor Regulation Section 2550.401c-1.  To the Knowledge of Company, neither it nor its Affiliates have provided investment advice that has formed or may form a primary basis for any investment decision in respect of any Reinsured Contract held by any contractholder that is subject to Title I of ERISA or an “individual retirement annuity,” or exercised any management or discretionary authority that would render it a fiduciary under Title I of ERISA or Section 4975 of the Code with respect to such Reinsured Contracts.  No payment received by Company or any of its Affiliates in respect of any Reinsured Contract held by any contractholder that is subject to Title I of ERISA or an “individual retirement annuity” that is from a third party unaffiliated with Company (i.e., in respect of any Registered Separate Account, including 12b-1 fees, revenue sharing, commissions etc.) has resulted or would reasonably be expected to result in a nonexempt prohibited transaction under Section 406 of ERISA or Section 4975 of the Code.  With respect to any Reinsured Contract held by contractholder that is subject to Title I of ERISA or an “individual retirement annuity” that has one or more separately managed accounts (whether or not a Separate Account), such account is managed by a qualified professional asset manager (within the meaning of Department of Labor Prohibited Transaction Class Exemption 84-14, as amended) pursuant to an effective investment management agreement as to which such manager has acknowledged (other than for separate accounts that are registered under the Investment Company Act of 1940 or provide for the guarantee of principal and interest) fiduciary authority under ERISA, 

the Code, or both, and to the Knowledge of Company, no fiduciary breach or other nonexempt prohibited transaction under Section 406 of ERISA or Section 4975 has occurred with respect to any such Reinsured Contract.  From and including June 9, 2017, neither the Company nor any of its Affiliates have provided any “investment advice” within the meaning of 29 CFR 2510.3(21)(a) pursuant to revised regulations published in the Federal Register on April 8, 2016 (located at 82 FR 16902 et seq) and applicable as of June 9, 2017, with respect to  any Reinsured Contract held by any contractholder that is subject to Title I of ERISA or an “individual retirement annuity” or other account otherwise subject to the prohibited transaction rules of Section 4975 of the Code.  
(ii)    Each Separate Account is, and since January 1, 2014, has been (i) duly and validly established and maintained in all material respects under Applicable Law and (ii) operating in compliance in all material respects with Applicable Law, the terms of Reinsured Contracts applicable to it, and the disclosure documents related to such Reinsured Contracts.
(iii)    Each Separate Account is either (A) registered as a unit investment trust or an open-end management investment company under the Investment Company Act (each, a “Registered Separate Account”) or (B) is not registered as an investment company in reasonable reliance upon the exclusion from the definition of an investment company in Section 3(c)(1), 3(c)(7) or 3(c)(11) of the Investment Company Act and, except as is provided on Section 15.1(o)(iii) of the Disclosure Schedule, is not subject to Title I of ERISA or Section 4975 of the Code.  The registration of each Separate Account registered under the Investment Company Act is in full force and effect.  Since January 1, 2014, each Registered Separate Account has (x) maintained a registration statement in material compliance with Section 8 of the Investment Company Act and (y) been operated in all material respects in compliance with all Applicable Laws (including the conditions of any applicable exemptions obtained from provisions of the Investment Company Act and all applicable regulations, rules, releases and orders of the SEC).
(iv)    Except as set forth in Section 15.1(o)(iv) of the Disclosure Schedule, no examinations, investigations, inspections and formal or informal inquiries of the Separate Accounts, including periodic regulatory examinations of the Separate Accounts’ affairs and condition, civil investigative demands and market conduct examinations, by any Governmental Authority have been conducted since January 1, 2014 through the SAPA Execution Date.
(v)    Except as set forth in Section 15.1(o)(v) of the Disclosure Schedule, since January 1, 2014, no notice has been received from, and no investigation, inquiry or review is pending or, to the Knowledge of the Company, threatened by, any Governmental Authority which has jurisdiction over such Separate Accounts with respect to any alleged material violation by the Company of any Applicable Law in connection with the Separate Accounts.
(vi)    (A) Each Separate Account currently is and has been since January 1, 2014 in compliance in all material respects with its investment objectives, investment policies and restrictions (as they may be amended from time to time) and other contract terms; (B) the value of the net assets of each Separate Account has been determined and is being determined using portfolio valuation methods that comply in all material respects with the methods described in its offering or plan documents and (C) the Company has provided investment advisory services to the Separate Accounts in compliance in all material respects with such Separate Account’s investment objectives, investment policies and restrictions (as they may be amended from time to time) and other contract terms.
(vii)    Each Registered Separate Account has written policies and procedures adopted pursuant to Rule 38a-1 of the Investment Company Act that are reasonably designed to prevent material violations of the United States Federal Securities Laws, as such term is defined in Rule 38a-1(e)(1) under 

the Investment Company Act.  Since January 1, 2014, there have been no material compliance matters that are materially adverse to any Registered Separate Account, as such term is defined in Rule 38a-1(e)(2) under the Investment Company Act, other than those which have been reported as required by Rule 38a-1(a)(4)(iii)(B), if any, and satisfactorily remedied or are in the process of being remedied.
(viii)    The Company has adopted written anti-money laundering programs and written customer identification programs applicable to its Separate Accounts that comply with Applicable Law and since January 1, 2014 the Company has complied with the terms of such programs in all material respects.
(p)    Distributors and Brokers; Third-Party Administrators.  
(i)    To the Knowledge of the Company, since January 1, 2014 to the SAPA Execution Date, each insurance agent, underwriter, wholesaler, broker, reinsurance intermediary and distributor that wrote, sold, or produced insurance business for the Company (each, a “Distributor”), at the time such Person wrote, sold or produced such business, was duly licensed as required by Applicable Law (for the type of business written, sold or produced on behalf of the Company), was duly appointed (to the extent required by Applicable Law) by the Company, and to the Knowledge of the Company, no Distributor is in violation (or with or without notice or lapse of time or both, would be in violation) of any term or provision of any Applicable Law applicable to the writing, sale or production of insurance business for the Company, except for such failures to be licensed or such violations which have been cured, resolved or settled through agreements with applicable Governmental Authorities, are barred by an applicable statute of limitations or that, individually or in the aggregate, have not had, and would not reasonably be expected to have, a Company Material Adverse Effect.
(ii)    Other than with respect to any termination that was effective on or prior to the Effective Date, no Material Distributor has notified the Company in writing of its intent to terminate its relationship with the Company with respect to the Reinsured Contracts.
(iii)    Except as set forth in Section 15.1(p) of the Disclosure Schedule, to the Knowledge of the Company, since January 1, 2014 to the SAPA Execution Date, each third-party administrator that managed or administered the Reinsured Contracts for the Company, at the time such Person managed or administered such Reinsured Contracts, was duly licensed as required by Applicable Law (for the type of business managed or administered on behalf of the Company), and to the Knowledge of the Company, no such third-party administrator has been since January 1, 2014 or is in violation (or with or without notice or lapse of time or both, would be in violation) of any term or provision of any Applicable Law applicable to the administration or management of the Reinsured Contracts for the Company, except for such failures to be licensed or such violations which have been cured, resolved or settled through agreements with applicable Governmental Authorities, are barred by an applicable statute of limitations, or that, individually or in the aggregate, have not had, and would not reasonably be expected to have, a Company Material Adverse Effect.
(q)    Reinsured Contracts.  The Company has provided the Reinsurer true and correct copies of substantially all of the policy forms, riders and endorsements pertaining to the Reinsured Contracts, subject to any state variations with respect thereto.
15.2.    Representations and Warranties of the Reinsurer.  The Reinsurer represents and warrants to the Company (which has relied upon these representations in entering into this Agreement) that as of the Effective Date:

(a)    Organization.  The Reinsurer is a corporation duly organized, validly existing and in good standing under the laws of the Commonwealth of Massachusetts.
(b)    Authorization.  The Reinsurer has all requisite corporate power to enter into, consummate the transactions contemplated by, and carry out its obligations under, this Agreement and the Trust Agreement.  The execution and delivery by the Reinsurer of this Agreement and the Trust Agreement, and the consummation by the Reinsurer of the transactions contemplated by, and the performance by the Reinsurer of its obligations under, this Agreement and the Trust Agreement have been duly authorized by all requisite corporate action on the part of the Reinsurer.  Upon execution and delivery of this Agreement and the Trust Agreement, this Agreement and the Trust Agreement will be duly executed and delivered by the Reinsurer, and (assuming due authorization, execution and delivery by each other party to this Agreement and the Trust Agreement) this Agreement and the Trust Agreement will constitute, the legal, valid and binding obligation of the Reinsurer, enforceable against it in accordance with its terms, subject to the effect of any applicable bankruptcy, reorganization, insolvency, moratorium, rehabilitation, liquidation, fraudulent conveyance or similar Applicable Law relating to or affecting creditors’ rights generally and subject, as to enforceability, to the effect of general equitable principles (regardless of whether such enforceability is considered in a proceeding in equity or at law).
(c)    No Conflict or Violation.  The execution and delivery of each of this Agreement and the Trust Agreement does not, and the performance by the Reinsurer of its obligation hereunder and under the Trust Agreement will not, conflict with, or result in any violation of or default (with or without notice or lapse of time, or both) under, or give rise to a right of termination or cancellation under, any provision of (i) the articles or certificate of incorporation and by-laws or comparable organizational documents of the Reinsurer, (ii) any contract, permit, order, judgment or decree to which the Reinsurer is a party, (iii) any order of any Governmental Authority or (iv) any Applicable Law, except for such violations or defaults which would not reasonably be expected to have a material adverse effect on the reinsurance being provided hereunder or the Reinsurer’s ability to satisfy its obligations hereunder and under the Trust Agreement.
(d)    No Consents or Approvals.  The execution and delivery of each of this Agreement and the Trust Agreement and the performance of the obligations hereunder and thereunder will not require the Reinsurer to obtain any consent, approval, order or authorization of, or make any registration, declaration or filing with, any Governmental Authority or other Person, except any consents, approvals, orders, authorizations, registrations, declarations or filings (i) that have been obtained or made or (ii) those of which the failure to obtain or make would not reasonably be expected to have a material adverse effect on the Reinsurer’s ability to satisfy its obligations hereunder and under the Trust Agreement.
(e)    Brokers.  No reinsurance intermediary, broker or finder has acted directly or indirectly for the Reinsurer, nor has it incurred any obligations to pay any reinsurance intermediary, brokerage or finder’s fee or other commission, in connection with the transactions contemplated by this Agreement.
15.3.    Covenants.
(a)    Transfer of Assets.  The Company hereby covenants and agrees with the Reinsurer that (i) as of the date of the transfer of any assets by the Company to the Reinsurer or to the Trust Account pursuant to this Agreement on the Effective Date or after the Effective Date, the Company will have good and marketable title, free and clear of any liens or other encumbrances, to all such assets and (ii) all assets transferred by the Company to the Reinsurer or to the Trust Account pursuant to this Agreement shall be transferred free and clear of any liens or other encumbrances.

(b)    Title to Assets Pre-Transfer. The Reinsurer hereby covenants and agrees with the Company that (i) as of the date of the transfer of any assets by the Reinsurer to the Trust Account or to the Company pursuant to this Agreement, the Reinsurer will have good and marketable title, free and clear of any liens or other encumbrances, to all such assets and (ii) all assets transferred by the Reinsurer to the Trust Account or to the Company pursuant to this Agreement shall be transferred free and clear of any liens or other encumbrances.
(c)    Title of Assets Post-Transfer.  Each of the parties hereby covenants and agrees that , after giving effect to any transfer of assets of such party to the Trust Account, the Trustee will have good and marketable title to such assets, free and clear of any liens or other encumbrances.
(d)    Utmost Good Faith; Duty of Cooperation.  Each of the parties covenants and agrees that it shall owe a duty of utmost good faith to the other in all matters hereunder and deal fairly with the other in order to accomplish the objectives of this Agreement.
ARTICLE XVI 
INDEMNIFICATION 

16.1.    Survival of Representations and Warranties.  Except for the representations and warranties contained in Sections 15.1(a), 15.1(b), 15.2(a) and 15.2(b), which shall survive the Closing Date indefinitely, all other representations and warranties made by the parties in this Agreement or in any certificate or other writing delivered pursuant hereto or in connection herewith shall survive the Closing Date and terminate on the later of (a) June 30, 2019 and (b) fifteen (15) months following the Closing Date.
16.2.    Obligation to Indemnify.
(a)    Subject to the limitations set forth in this Article XVI, the Company shall, indemnify, defend and hold harmless the Reinsurer and its Affiliates and Representatives, successors and assigns (collectively, the “Reinsurer Indemnified Parties”) from and against all Losses incurred by the Reinsurer Indemnified Parties to the extent arising from:
(i)    any inaccuracy in or breach of the representations and warranties made by the Company contained in Article XV of this Agreement; or
(ii)    any breach or failure by the Company to perform any of its covenants or obligations contained in this Agreement or any failure by Hopmeadow Acquisition, Inc. to have obtained the Reinsurer’s prior written consent to any amendments, modifications, terminations, waivers or any other supplements to the Reinsured Business Fundamental Representations or Reinsured Business Pre-Closing Covenants to the extent required under the Binder.
(b)    Subject to the limitations set forth in this Article XVI, the Reinsurer  shall indemnify, defend and hold harmless the Company and its Affiliates and Representatives, successors and assigns (collectively, the “Company Indemnified Parties”) from and against all Losses incurred by the Company Indemnified Parties to the extent arising from:
(i)    any breach of or inaccuracy in the representations and warranties made by the Reinsurer in Article XV of this Agreement; or
(a)    any breach or failure by the Reinsurer to perform any of its covenants or obligations contained in this Agreement.

(c)    The parties shall not be required to indemnify, defend or hold harmless any Indemnified Party against any Losses pursuant to Section 16.2(a)(i) or Section 16.2(b)(i) (other than Losses to the extent arising as a result of the inaccuracy or breach of any representation or warranty made by the Company in Section 15.1(a) and made by the Reinsurer in Section 15.2(a), as to which the limitations in this sentence shall not apply) with respect to any claim (or series of related claims arising from substantially the same underlying facts, events or circumstances) (i) with respect to Losses pursuant to Section 16.2(a)(i), until the aggregate amount of the Buyer Indemnified Parties’ Losses (as such terms are defined in the Stock and Asset Purchase Agreement), which shall be deemed to include (A) all Reinsurer Indemnified Parties’ Losses under Section 16.02(a)(i) hereto, (B) all Buyer Indemnified Parties’ Losses under Section 13.01(a)(i) of the Stock and Asset Purchase Agreement and (C) all Reinsurer Indemnified Parties’ Losses (as such terms are defined in the HLIC Reinsurance Agreement) under Section 16.02(a)(i) of the HLIC Reinsurance Agreement, exceeds $41,250,000, after which the Company shall, subject to the immediately succeeding sentence and unless not required under Section 16.2(d) hereof, be obligated to indemnify and hold harmless such Indemnified Parties against all Reinsurer Indemnified Parties’ Losses that in the aggregate are in excess of the $41,250,000 in Buyer Indemnified Parties’ Losses referred to above, and (ii) with respect to Losses pursuant to Section 16.2(b)(i), until the aggregate amount of (A) the Company Indemnified Parties’ Losses under Section 16.2(b)(i) hereto and (B) the Company Indemnified Parties’ Losses (as such terms are defined in the HLIC Reinsurance Agreement), exceeds $12,000,000, after which the Reinsurer shall, subject to the immediately succeeding sentence, be obligated to indemnify and hold harmless such Indemnified Parties against all Losses of such Indemnified Parties that in the aggregate are in excess of such amount.  The cumulative aggregate liability (A) of the Company under Section 16.2(a)(i) of this Agreement and of HLIC under Section 16.2(a)(i) of the HLIC Reinsurance Agreement shall in no event exceed $66,000,000, and (B) of the Reinsurer under Section 16.2(b)(i) of this Agreement and Section 16.2(b)(i) of the HLIC Reinsurance Agreement shall in no event exceed $66,000,000.
(d)    
(i)    The Company shall not be required to indemnify, defend or hold harmless any Reinsurer Indemnified Party against any Losses pursuant to Section 16.2(a)(i) except to the extent that the Company has recovered under the indemnification by Seller (as defined in the Stock and Asset Purchase Agreement) provided pursuant to Section 13.01(a)(i) of the Stock and Asset Purchase Agreement (or recovered from HFSG (as defined in the Stock and Asset Purchase Agreement) pursuant to Section 14.19 of the Stock and Asset Purchase Agreement) in the same or greater amount with respect to the same Losses (“Seller Indemnification Claim”) and in no event shall any indemnification payment made by the Company to the Reinsurer Indemnified Party exceed any indemnification payment received by the Company from the Seller under Section 13.01(a)(i) of the Stock and Asset Purchase Agreement (or recovered from HFSG (as defined in the Stock and Asset Purchase Agreement) pursuant to Section 14.19 of the Stock and Asset Purchase Agreement) with respect to the corresponding Seller Indemnification Claim; provided, however, that if the Buyer Indemnified Parties have recovered $330 million pursuant to the indemnification provided pursuant to Section 13.01(a)(i) of the Stock and Asset Purchase Agreement and the requirements set forth in Section 16.2(c) of this Agreement have been satisfied, the requirements of this sentence shall not preclude an indemnification recovery by the Reinsurer Indemnified Party (subject to the other limitations set forth in this Agreement, including Section 16.2(c); provided, further, that any amounts (A) offset by Seller against indemnification payments due to the Company pursuant to the Stock and Asset Purchase Agreement or (B) recovered from a third Person not affiliated with Seller or the Company pursuant to Section 13.06(b) of the Stock and Asset Purchase Agreement, in each case, shall not be taken into account for purposes of determining the indemnification payment received by the Company from the Seller under Section 13.01(a)(i) of the Stock and Asset Purchase Agreement with respect to the corresponding Seller Indemnification Claim, except in the case of the foregoing clause (A) to the extent that there is a quantifiable, realizable and direct benefit to 

the Reinsurer and in such event the amount shall be taken into account for purposes of determining such indemnification payment.  
(ii)    If the facts and circumstances that underlie a Seller Indemnification Claim arise out of or relate solely to the Covered Liabilities (a “Covered Liability Seller Indemnification Claim”), the Company shall act as directed by the Reinsurer Indemnified Party regarding the pursuit, litigation and resolution of such Covered Liability Seller Indemnification Claim and shall not settle or compromise any such Covered Liability Seller Indemnification Claim except with the prior written consent of the Reinsurer Indemnified Party; provided, however, that the Company shall have no obligations pursuant to this Section 16.2(d)(ii) unless the Reinsurer has promptly paid all of the Company’s costs and expenses, including reasonable attorneys’ fees, arising out of or relating to pursuing such indemnification claim, as such costs and expenses are incurred.  The Company shall permit counsel for the Reinsurer Indemnified Party to attend all significant internal meetings and all meetings with Representatives of plaintiffs, hearings and other proceedings relating to such Covered Liability Seller Indemnification Claim.  The parties hereto shall make mutually available to each other all relevant information in their possession relating to any Covered Liability Seller Indemnification Claim (except to the extent that such action would result in a loss of attorney-client privilege as to any material matter).  For the avoidance of doubt, the parties acknowledge that the Company shall have no liability to a Reinsurer Indemnified Party for any Losses that such Reinsurer Indemnified Party may suffer, sustain or otherwise incur in respect of the outcome or consequences of the Company’s making any such Covered Liability Seller Indemnification Claim on the Reinsurer Indemnified Party’s behalf.
(iii)    If the Company brings on its own behalf, for Losses relating to the business of the Company other than the Covered Liabilities, a claim under the Stock and Asset Purchase Agreement that is based on the same facts and circumstances that underlie a Covered Liability Seller Indemnification Claim (a “Related Seller Indemnification Claim”), the Company shall cooperate in pursuing, and the Reinsurer Indemnified Party shall be entitled to participate fully with the Company in, any such Related Seller Indemnification Claim.  The Reinsurer Indemnified Party shall be entitled to participate in such Related Seller Indemnification Claim with internal counsel or with outside counsel (at its own expense) reasonably acceptable to the Company, and the Company shall permit counsel for the Reinsurer Indemnified Party to attend all significant internal meetings and all meetings with Representatives of plaintiffs, hearings and other proceedings.  Counsel for the Reinsurer Indemnified Party also shall be given a reasonable opportunity to comment upon and make recommendations with respect to all memoranda of law, pleadings and briefs and other documents relating to such Related Seller Indemnification Claim, and the Company and its counsel shall consider in good faith such comments and recommendations of counsel for the Reinsurer Indemnified Party and shall not unreasonably reject any such comments or recommendations after giving due consideration to the relative proportions in which the Company and the Reinsurer are affected by the Related Seller Indemnification Claim and any related Covered Liability Seller Indemnification Claim, respectively, without taking into account any other disputes or matters under the Stock and Asset Purchase Agreement.  The Reinsurer Indemnified Party shall cooperate fully with the Company in the pursuit or settlement of such Related Seller Indemnification Claim.  The parties hereto shall make mutually available to each other all relevant information in their possession relating to such Related Seller Indemnification Claim (except to the extent that such action would result in a loss of attorney-client privilege as to any material matter).  In no event shall the Company be liable for any costs or expenses, including attorneys’ fees, incurred by the Reinsurer Indemnified Party with respect to the matters contemplated in this subsection (iii).
16.3.    Notification of Claims.
(a)    A Person who may be entitled to be indemnified and held harmless under Section 16.2(a) or Section 16.2(b) (the “Indemnified Party”), shall promptly notify the Person providing indemnification (the “Indemnifying Party”) in writing of any pending or threatened claim or demand by a 

third party that the Indemnified Party has determined has given or could reasonably give rise to such a right under this Agreement (including a pending or threatened claim or demand asserted by a third party against the Indemnified Party, such claim being a “Third-Party Claim”), describing in reasonable detail the facts and circumstances with respect to the subject matter of such claim or demand and, if applicable, the specific representation, warranty or provision of this Agreement that the Indemnified Party alleges to be breached; provided, that the failure to provide such notice shall not release the Indemnifying Party from any of its obligations under this Article XVI except to the extent the Indemnifying Party is actually prejudiced by such failure, it being understood that notices for claims in respect of a breach of a representation, warranty, covenant or agreement must be delivered prior to the expiration of any applicable survival period specified in Section 16.1 for such representation, warranty, covenant or agreement.  Following delivery of a notice of a Third-Party Claim, the Indemnified Party shall deliver to the Indemnifying Party, promptly (and in any event within ten (10) Business Days) after the Indemnified Party’s receipt thereof, copies of all notices and documents (including court papers) received by the Indemnified Party relating to such Third-Party Claim.
(b)    Following receipt of a notice of a Third-Party Claim from an Indemnified Party pursuant to Section 16.3(a), subject to Section 16.3(d), the Indemnifying Party may assume the defense and control of such Third-Party Claim by delivery of written notice to the Indemnified Party within sixty (60) calendar days after receipt of the Indemnified Party’s claims notice pursuant to Section 16.3(a); provided, that the Indemnifying Party shall not be entitled to assume or maintain control of the defense of any Third-Party Claim and shall pay the reasonable fees, costs and expenses of counsel retained by the Indemnified Party to the extent (i) the Third-Party Claim relates to or arises in connection with any criminal proceeding, action, indictment, allegation or investigation against the Indemnified Party or (ii) the Third-Party Claim would reasonably be expected to result in an injunction or equitable relief against the Indemnified Party that would, in each case, have a material effect on the operation of the business of such Indemnified Party or any of its Affiliates.  The assumption of the defense by the Indemnifying Party of any Third-Party Claim shall not require the Indemnifying Party to agree to be liable for any Losses in respect of such Third-Party Claim and shall be without prejudice to any rights or defenses of the Indemnifying Party in respect of whether the Indemnified Party is entitled to indemnification under this Article XVI for any particular Loss or Losses.
(c)    Subject to Section 16.3(d), the Indemnified Party may take any actions reasonably necessary to defend such Third-Party Claim prior to the time that it receives a notice from the Indemnifying Party as contemplated by Section 16.3(b).  If the Indemnifying Party assumes the defense of any Third-Party Claim in accordance with Section 16.3(b), the Indemnifying Party shall allow the Indemnified Party a reasonable opportunity to participate in the defense of such Third-Party Claim with its own counsel and at its own expense; provided, however, that notwithstanding the foregoing, the Indemnifying Party shall bear the reasonable fees, costs and expenses of one (1) such separate counsel if (i) the Indemnifying Party and the Indemnified Party are both named parties to the Action and the Indemnified Party shall have reasonably determined in good faith that the representation of both parties by the same counsel would be inappropriate due to actual differing interests between them or that there may be defenses or counterclaims available to the Indemnified Party that are inconsistent with those available to the Indemnified Party or (ii) the Indemnifying Party shall have authorized the Indemnified Party to employ separate counsel at the Indemnifying Party’s expense.  If the Indemnifying Party assumes the defense of any Third-Party Claim, the Indemnifying Party shall not, for so long as it diligently conducts such defense, be liable to the Indemnified Party for legal or other expenses subsequently incurred by the Indemnified Party in connection with the defense thereof other than provided in this Section 16.3(c).  The Indemnifying Party shall be liable for the reasonable fees, costs and expenses of counsel employed by the Indemnified Party for any period during which Indemnifying Party has not assumed or is not diligently conducting the defense of a Third-Party Claim for which the Indemnified Party is entitled to indemnification hereunder.  The Company or the Reinsurer, as the case may be, shall, and shall cause each of its Affiliates and Representatives to, reasonably cooperate 

with the Indemnifying Party in the defense of any Third-Party Claim.  Without limiting the generality of the foregoing, from and after the delivery of a notice of a claim for indemnification with respect to a Third-Party Claim, at the reasonable request of the Indemnifying Party, each Indemnified Party shall grant the Indemnifying Party and its Representatives reasonable  access, during normal business hours, to the books, records, personnel and properties of the Indemnified Party to the extent reasonably related to such Third-Party Claim, at no cost to the Indemnifying Party (other than for reasonable out-of-pocket expenses of the Indemnified Parties).  The Indemnifying Party shall be authorized to consent to a settlement of, or the entry of any judgment arising from, any Third-Party Claim, without the consent of any Indemnified Party; provided that (A) such settlement provides only for the payment of monetary damages (and does not impose any injunctive relief or otherwise impose any conditions or restrictions on the applicable Indemnified Party or any of its Affiliates or Representatives) and does not involve any finding or admission of any violation of Applicable Law or admission of any wrongdoing or any violation of the rights of any Person and does not include a statement or admission of fault, culpability or failure to act by or on the part of  any Indemnified Party or any of its Affiliates or Representatives, (B) the Indemnifying Party pays or causes to be paid all amounts arising out of such settlement or judgment concurrently with the effectiveness of such settlement or judgment (other than as contemplated by Section 16.2(c)), and (C) the Indemnifying Party obtains, as a condition of any settlement, entry of judgment or other resolution, a complete and unconditional release of each Indemnified Party from any and all Liabilities in respect of such Third-Party Claim.  If the Indemnifying Party elects not to defend the Indemnified Party against a Third-Party Claim to which it is entitled to indemnification hereunder, whether by not giving the Indemnified Party timely notice of its desire to so defend or otherwise, then the Indemnified Party shall have the right but not the obligation to assume its own defense, but without in any way waiving or otherwise affecting the Indemnified Party’s rights to indemnification pursuant to this Agreement, and the Indemnifying Party shall bear all fees, costs and expenses of one such counsel engaged by the Indemnified Party for Third-Party Claims for which such Indemnified Party was entitled to indemnification hereunder. 
(a)    No Indemnifying Party shall have any liability under this Article XVI for any Losses arising out of or in connection with any Third-Party Claim that is settled or compromised by an Indemnified Party without the prior consent of such Indemnifying Party (such consent not to be unreasonably withheld, conditioned or delayed).
(b)    If an Indemnified Party wishes to make a claim under this Article XVI that does not involve a Third-Party Claim, the Indemnified Party shall give written notice to the Indemnifying Party setting forth (i) a reasonably detailed description of the claim, (ii) a good faith estimate of the amount of the claim (to the extent ascertainable) and (iii) the specific representation, warranty or provision of this Agreement that the Indemnified Party alleges to be breached, and such notice shall be accompanied by copies of all available documentation that may be necessary or appropriate for the purposes of enabling the Indemnifying Party to be informed and to take any and all appropriate decisions and actions in respect of the matter and Loss that is the subject of the claim; provided, that the failure to provide such notice on a timely basis shall not release the Indemnifying Party from any of its obligations under this Article XVI except to the extent the Indemnifying Party is actually prejudiced by such failure, it being understood that notices for claims in respect of a breach of a representation, warranty, covenant or agreement must be delivered prior to the expiration of any applicable survival period specified in Section 16.1 for such representation, warranty, covenant or agreement.
16.4.    Payment.  Except as contemplated by Section 3.7, in the event an Action under this Article XVI shall have been finally determined, the amount of such final determination shall be paid to the Indemnified Party on demand in immediately available funds.  An Action, and the liability for and amount of damages therefor, shall be deemed to be “finally determined” for purposes of this Article XVI when the 

parties to such Action have so determined by mutual agreement or, if disputed, when a final nonappealable Governmental Order shall have been entered.
16.5.    No Duplication; Exclusive Remedies.
(a)    Any liability for indemnification hereunder and under any other Transaction Document shall be determined without duplication of recovery by reason of the same Loss.  
(b)    Other than in the case of fraud or intentional misconduct by the Company or the Reinsurer or any of their respective Affiliates, the indemnification provisions of this Article XVI shall be the sole and exclusive remedies of the Company and the Reinsurer, respectively, for any breach of or inaccuracy in any representations or warranties in this Agreement and any breach or failure to perform or comply with any of the covenants or agreements contained in this Agreement.  In furtherance of the foregoing, each of the Company, on behalf of itself and each other Company Indemnified Party, and the Reinsurer, on behalf of itself and each other Reinsurer Indemnified Party, hereby waives, from and after the Closing Date, to the fullest extent permitted under Applicable Law, any and all rights, claims and causes of action (other than claims of, or causes of action arising from, fraud or intentional misconduct) it may have against the Company or any of its Affiliates or Representatives and the Reinsurer or any of its Affiliates or Representatives, as the case may be, arising under or based upon this Agreement, any certificate or instrument delivered in connection herewith (whether under this Agreement or arising under common law or any other Applicable Law), except pursuant to: (i) the indemnification provisions set forth in this Article XVI or (ii) as provided under (A) the provisions hereof providing for equitable remedies or (B) the provisions of any other Transaction Document.
16.6.    Additional Indemnification Provisions.
(a)    With respect to each indemnification obligation in this Agreement (i) each such obligation shall be calculated on an After-Tax Basis and (ii) all Losses shall be net of any actual non-refundable recoveries to the Indemnified Party described in Section 16.6(b).
(b)    In any case where an Indemnified Party recovers from a third Person not affiliated with such Indemnified Party, including any third-party insurer, any amount in respect of any Loss paid by an Indemnifying Party pursuant to this Article XVI, such Indemnified Party shall promptly pay over to the Indemnifying Party the amount so recovered (net of any Expenses incurred by such Indemnified Party in procuring such recovery, which Expenses shall not exceed the amount so recovered), and, if applicable, net of such Indemnified Party’s (i) retroactive or prospective premium adjustments associated with such recovery from a third-party insurer and (ii) actual increase(s) in such Person’s and its Affiliates’ insurance premium that is reasonably attributable to such Loss (collectively, the “Premium Increase”), but not in excess of the sum of (i) any amount previously paid by the Indemnifying Party to or on behalf of the Indemnified Party in respect of such claim and (ii) any amount expended by the Indemnifying Party in pursuing or defending any claim arising out of such matter.
(c)    If any portion of Losses to be paid by the Indemnifying Party pursuant to this Article XVI would reasonably be expected to be recoverable from a third party not affiliated with the relevant Indemnified Party (including under any applicable third-party insurance coverage) based on the underlying claim or demand asserted against such Indemnifying Party, then the Indemnified Party shall promptly after becoming aware of such fact give notice thereof to the Indemnifying Party and, upon the request of the Indemnifying Party shall use reasonable best efforts to collect the maximum amount recoverable from such third party, in which event the Indemnifying Party shall reimburse the Indemnified Party for (i) all reasonable costs and expenses incurred in connection with such collection (which costs and expenses of collection shall not exceed the amount recoverable from such third party) and (ii) any related Premium Increase.  If any 

portion of Losses actually paid by the Indemnifying Party pursuant to this Article XVI could have been recovered from a third party not affiliated with the relevant Indemnified Party based on the underlying claim or demand asserted against such Indemnifying Party, then the Indemnified Party shall transfer, to the extent transferable, such of its rights to proceed against such third party as are necessary to permit the Indemnifying Party to recover from such third party any amount actually paid by the Indemnifying Party pursuant to this Article XVI, net of any related Premium Increase for which the Indemnifying Party has not already reimbursed the Indemnified Party pursuant to the immediately preceding sentence.
(d)    For purposes of determining whether a breach of any representation or warranty made in this Agreement has occurred, and for calculating the amount of any Loss under this Article XVI, each representation and warranty contained in this Agreement shall be read without regard to any “materiality,” “Company Material Adverse Effect,” “material adverse effect on the Reinsurer” or other similar qualification contained in or otherwise applicable to such representation or warranty, other than the representations and warranties in Section 15.1(j)(v) and Section 15.1(m)(ii), in each case to the extent relating to the Covered Liabilities.
(c)    In the event that a party hereto: (i) consolidates with or amalgamates, combines or merges into any other Person and is not the continuing or surviving corporation or entity of such consolidation, amalgamation, combination or merger; or (ii) sells, transfers, pledges or otherwise disposes of all or substantially all of its properties, assets (including portfolio investments) or equity of its subsidiaries (whether in one transaction or a series of related transactions) to one or more Persons, then, and in each such case, proper provision shall be made prior to the consummation of any such transaction so that each such Person shall assume by a written instrument entered into for the benefit of, and enforceable by, the other party hereto the obligations of such party set forth in this Article XVI.
(d)    The waiver of any condition based on the accuracy of any representation or warranty set forth in this Agreement, or on the performance of or compliance with any covenant, agreement, condition and obligation set forth in this Agreement, shall not affect the right to indemnification or other remedy based on such representations, warranties, covenants, agreements, conditions and obligations.
16.7.    Reserves.  Notwithstanding anything to the contrary in this Agreement or the other Transaction Documents, the Company makes no representation or warranty with respect to, and nothing contained in this Agreement, any other Transaction Documents, any Retrocession Transaction Documents, or in any other agreement, document or instrument to be delivered in connection with the transactions contemplated hereby or thereby is intended or shall be construed to be a representation or warranty (express or implied) of the Company, for any purpose of this Agreement, the other Transaction Documents, any Retrocession Transaction Documents, or any other agreement, document or instrument to be delivered in connection with the transactions contemplated hereby or thereby, with respect to (a) the adequacy or sufficiency of the Reserves of the Company, (b) the future profitability of the Business Covered or (c) the effect of the adequacy or sufficiency of the Reserves of the Company on any “line item” or asset, Liability or equity amount. Furthermore, no fact, condition, circumstance or event relating to or affecting the development of the Reserves of the Company may be used, directly or indirectly, to demonstrate or support the breach of any representation, warranty, covenant or agreement contained in this Agreement, any Transaction Document, any Retrocession Transaction Documents, or any other agreement, document or instrument to be delivered in connection with the transactions contemplated hereby or thereby.

ARTICLE XVII 
REINSURANCE CREDIT
17.1.    Reinsurance Credit.
(a)    The parties intend that the Company shall be able to fully recognize the reinsurance ceded hereunder in its statutory financial statements.  If a Reinsurance Credit Event occurs, the Reinsurer shall use commercially reasonable efforts to novate this Agreement to another affiliated insurer with an RBC Ratio of not less than [REDACTED] (after taking into account the capital necessary for such transaction) that is licensed in the domiciliary state of the Company (provided that such domiciliary state is a jurisdiction with substantially similar requirements as the Company’s domiciliary state as of the Closing Date) and, if that cannot be accomplished with the use of commercially reasonable efforts, the Reinsurer shall enter into a statutory trust agreement, deliver letters of credit or provide any other form of security acceptable to the applicable Governmental Authorities of all jurisdictions to which the Company is subject, or take any other action, in each case, at the Reinsurer’s expense, the effect of which shall enable the Company to receive full statutory financial statement credit for reinsurance ceded to the Reinsurer under this Agreement.
(b)    The statutory trust agreement to be used pursuant to clause (a) shall be negotiated in good faith and mutually agreed to by the parties hereto and shall comply with all Applicable Laws relating to credit for reinsurance in the Company’s domiciliary state.  If either party has reason to believe that a Reinsurance Credit Event may occur, such party shall immediately notify the other party and, no later than two (2) Business Days thereafter, the parties shall commence negotiation of such trust agreement.  If the statutory trust agreement is to be used pursuant to the foregoing clause (a) to provide reinsurance credit, the statutory trust agreement shall be executed and delivered as soon as practicable, but in any event no later than is necessary to ensure the that the Company will at all times obtain credit for reinsurance.  
(c)    It is understood and agreed that any term or condition required by Applicable Law to be included in this Agreement for the Company to receive full statutory financial statement credit for the reinsurance provided by this Agreement shall be deemed to be incorporated in this Agreement by reference.  Furthermore, the Reinsurer and the Company agree to act in good faith to amend this Agreement and other documents to the extent necessary or appropriate for consistency with Applicable Law in order to provide the Company with such full statutory financial statement credit.
ARTICLE XVIII 
MISCELLANEOUS PROVISIONS
18.1.    Headings, Schedules and Exhibits.  Headings used herein are not a part of this Agreement and shall not affect the terms hereof.  The attached Schedules and Exhibits are a part of this Agreement.
18.2.    Notices.  Unless otherwise provided in this Agreement, all notices, directions, requests, demands, acknowledgments and other communications required or permitted to be given or made under the terms hereof shall be in writing and shall be deemed to have been duly given or made (a)(i) when delivered personally, (ii) when made or given by facsimile or electronic media, provided that, in the case of facsimile and electronic mail notifications, such notifications are confirmed by telephone or (iii) in the case of mail delivery, upon the expiration of three (3) calendar days after any such notice, direction, request, demand, acknowledgment or other communication shall have been deposited in the United States mail for transmission 

by first class mail, postage prepaid, or upon receipt thereof, whichever shall first occur and (b) when addressed as follows:
If to the Company:    

Hartford Life and Annuity Insurance Company
1 Griffin Road North
Windsor, CT 06095
Facsimile: 860-624-0444
Attention: Vice President, Reinsurance

With a copy to:

Hartford Life and Annuity Insurance Company
1 Griffin Road North
Windsor, CT 06095
Facsimile: 860-624-0441
Attention: General Counsel

If to the Reinsurer:    

Commonwealth Annuity and Life Insurance Company
20 Guest Street 
Brighton, MA  02135
Facsimile:  (508) 460-2401
Attention:  President and CEO

With a copy to:

Commonwealth Annuity and Life Insurance Company
20 Guest Street 
Brighton, MA  02135
Facsimile: (508) 460-2401
Attention:  General Counsel and Secretary

or to such other address or to such other Person as either party may have last designated by notice to the other party.
18.3.    Successors and Assigns.  This Agreement shall be binding upon and inure to the benefit of the parties hereto and their respective successors, permitted assigns and legal Representatives.  Neither this Agreement, nor any right or obligation hereunder, may be assigned by any party without the prior written consent of the other party hereto.  Any assignment in violation of this Section 18.3 shall be void and shall have no force and effect; provided, however, that nothing in this Agreement shall be construed to prohibit the Reinsurer from retroceding all or any portion of the Reinsured Contracts reinsured hereunder to any retrocessionaire or otherwise hedging its obligations hereunder without the Company’s consent.
18.4.    Execution in Counterpart.  This Agreement may be executed by the parties hereto in any number of counterparts, and by each of the parties hereto in separate counterparts, each of which 

counterparts, when so executed and delivered, shall be deemed to be an original, but all such counterparts shall together constitute but one and the same instrument.
18.5.    Currency.  Whenever the word “Dollars” or the “$” sign appear in this Agreement, they shall be construed to mean United States Dollars, and all transactions under this Agreement shall be in United States Dollars.
18.6.    Transaction Costs.  Except as otherwise provided herein, each party shall bear its own costs relating to preparing and negotiating this Agreement and the transactions contemplated hereby.
18.7.    Amendments.  This Agreement may not be changed, altered or modified unless the same shall be in writing executed by the Company and the Reinsurer.
18.8.    Submission to Jurisdiction.
(a)    Except for matters as to which a dispute resolution process is specified in this Agreement or as otherwise contemplated under Section 8.3, each of the parties hereto irrevocably and unconditionally submits for itself and its property in any Action arising out of or relating to this Agreement, the transactions contemplated by this Agreement, the formation, breach, termination or validity of this Agreement or the recognition and enforcement of any judgment in respect of this Agreement, to the exclusive jurisdiction of the courts of the State of New York sitting in the County of New York, the federal courts for the Southern District of New York, and appellate courts having jurisdiction of appeals from any of the foregoing, and all claims in respect of any such Action shall be heard and determined in such New York courts or, to the extent permitted by Applicable Law, in such federal court.
(b)    Any such Action may and shall be brought in such courts and each of the parties irrevocably and unconditionally waives any objection that it may now or hereafter have to the venue or jurisdiction of any such Action in any such court or that such Action was brought in an inconvenient court and shall not plead or claim the same.
(c)    Service of process in any Action may be effected by mailing a copy of such process by registered or certified mail (or any substantially similar form of mail), postage prepaid, to such party at its address as provided in Section 18.2.
(d)    Nothing in this Agreement shall affect the right to effect service of process in any other manner permitted by the laws of the State of New York.
18.9.    Governing Law.  This Agreement will be construed, performed and enforced in accordance with the laws of the State of Connecticut without giving effect to its principles or rules of conflict of laws thereof to the extent such principles or rules would require or permit the application of the laws of another jurisdiction.
18.10.    Waiver of Jury Trial.  EACH PARTY HERETO IRREVOCABLY AND UNCONDITIONALLY WAIVES ANY AND ALL RIGHT TO TRIAL BY JURY IN ANY ACTION (WHETHER BASED ON CONTRACT, TORT OR OTHERWISE) ARISING OUT OF OR RELATING TO THE TRANSACTIONS CONTEMPLATED BY THIS AGREEMENT OR ANY OTHER TRANSACTION AGREEMENTS, OR ITS PERFORMANCE UNDER OR THE ENFORCEMENT OF THIS AGREEMENT OR ANY OTHER TRANSACTION AGREEMENT.
18.11.    Entire Agreement; Severability.

(a)     This Agreement constitutes the entire agreement between the parties hereto relating to the subject matter hereof and supersedes all prior and contemporaneous agreements, understandings, statements, representations and warranties, negotiations and discussions, whether oral or written, of the parties and there are no general or specific warranties, representations or other agreements by or among the parties in connection with the entering into of this Agreement or the subject matter hereof except as specifically set forth or contemplated herein.
(b)    If any provision of this Agreement is held to be void or unenforceable, in whole or in part, and if the rights or obligations of the Company or the Reinsurer under this Agreement will not be materially and adversely affected thereby, (i) such holding shall not affect the validity and enforceability of the remainder of this Agreement, including any other provision, paragraph or subparagraph and (ii) the parties agree to attempt in good faith to reform such void or unenforceable provision to the extent necessary to render such provision enforceable and to carry out its original intent.
18.12.    No Waiver; Preservation of Remedies.  No consent or waiver, express or implied, by any party to or of any breach or default by any other party in the performance by such other party of its obligations hereunder shall be deemed or construed to be a consent or waiver to or of any other breach or default in the performance of obligations hereunder by such other party hereunder.  Failure on the part of any party to complain of any act or failure to act of any other party or to declare any other party in default, irrespective of how long such failure continues, shall not constitute a waiver by such first party of any of its rights hereunder.  The rights and remedies provided are cumulative and are not exclusive of any rights or remedies that any party may otherwise have at law or equity.
18.13.    Third Party Beneficiary.  Nothing in this Agreement will confer any rights upon any Person that is not a party or a successor or permitted assignee of a party to this Agreement.
18.14.    Interpretation.  Wherever the words “include,” “includes” or “including” are used in this Agreement, they shall be deemed to be followed by the words “without limitation.”  
18.15.    Survival.  Article XII, Article XIV and Article XVII shall survive the termination of this Agreement.

IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be executed by their duly authorized Representatives on the date first stated above.
HARTFORD LIFE AND ANNUITY INSURANCE COMPANY 
 
 
By  /s/ John B. Brady           
    Name: John B. Brady   
    Title:   Chief Actuary  
 
COMMONWEALTH ANNUITY AND LIFE INSURANCE COMPANY 
 
 
By  /s/ Gilles Dellaert        
Name:  Gilles Dellaert 
Title:    Chief Investment Officer 

[Signature Page to Annuity Reinsurance Agreement]

SCHEDULE 1.1(a)
INTERIM PERIOD INTEREST1 
An amount as set forth below. Values for “1b) Closing Date statutory reserves + IMR” to be populated by the Company, where:
		
	•
	“statutory reserves” means the gross statutory reserves that are required to be held by the Company for purposes of its statutory financial statements with respect to the Reinsured Contracts, as determined in accordance with then applicable SAP

		
	•
	“IMR” means the interest maintenance reserve that was created on or before the Closing Date and amortized and determined in accordance with SAP held by the Company with respect to the Reinsured Contracts

	
														
	($ in millions)
	Payout Annuities
	Period Certain Structured Settlements
	Standard Lives Structured Settlements
	Total
	Variable Payout Separate Account Contracts

	1a) Effective Date statutory reserves 
      + IMR
	$
	547
	

	$
	0
	

	$
	0
	

	

	$547
	

	$372

	1b) Closing Date statutory reserves 
      + IMR
	$
	541
	

	$
	1,322
	

	

	$1,241
	

	

	$3,104
	

	 

	1)    Average reserves: (1a + 1b) / 2
	$
	544
	

	$
	661
	

	$
	621
	

	$
	1,825
	

	 

	 
	 
	 
	 
	 
	 

	 
	 
	 
	 
	 
	 

	2)    Book yield of assets in 
Annex A-1
	4.03
	%
	5.23
	%
	5.23
	%
	 
	 

	 
	 
	 
	 
	 
	 

	3)    Annual Interest on Reserves (100% Quota Share) (1 x 2)
	$
	22
	

	$
	35
	

	$
	32
	

	$
	89
	

	 

	x Years from Effective Date to Closing Date2
	31
	

	49
	

	46
	

	126
	

	 

	x Reinsurer’s Quota Share
	85
	%
	85
	%
	75
	%
	 
	 

	4)    Reinsurer’s Quota Share of Interest on Reserves
	$
	26
	

	$
	42
	

	$
	34
	

	$
	103
	

	 

	5)    Reinsurer’s Quota Share of Interest on Surplus
	$
	30
	

	$
	0
	

	$
	0
	

	$
	30
	

	 

	6)    Reinsurer’s Quota Share of Interim Period Interest (4 + 5)
	$
	56
	

	$
	42
	

	$
	34
	

	$
	133
	

	 

1 Schedule to be trued-up post-Closing to reflect actual Closing Date Statutory Reserves.
2 Years as computed on the basis of (A) a 360 day year composed of twelve (12) 30 day months and (b) no compounding.

SCHEDULE 1.1(b)
KNOWLEDGE OF THE COMPANY
1.Christopher Abreu
2.Christopher Conner
3.Robert Cornell
4.Diane Krajewski
5.Lisa Proch
6.Kirsten Ryan 
7.Peter Sannizzaro 
8.Robert Siracusa
9.Jennifer Whaley
10.John Brady
11.Glenn Gazdik
12.Andrew Diaz-Matos
13.James Cubanski

SCHEDULE A
REINSURED CONTRACTS
Fixed Payout Annuity Contracts – refer to excel file titled “Schedule A – HLAIC Fixed Payouts.xlsx”
Period Certain Structured Settlement Contracts – refer to excel file titled “Schedule A – HLAIC Period Certain SS.xlsx”
Standard Lives Structured Settlement Contracts – refer to excel file titled “Schedule A - HLAIC Standard SS.xlsx”
Variable Payout Separate Account Contracts – refer to excel file titled “Schedule A – HLAIC Variable Payouts.xlsx”

SCHEDULE B
AMORTIZATION OF CEDING COMMISSION
The Unamortized Ceding Commission shall be: (i) the Ceding Commission times (ii) the ratio of (x) to (y), where (x) is the NAIC Reserves attributable to the Reinsured Contracts held by the Company as of the date of determination (calculated on a gross basis and without giving effect to the Reinsurer’s Quota Share ) and (y) is the NAIC Reserves attributable to the Reinsured Contracts held by the Company at the Effective Date (calculated on a gross basis and without giving effect to the Reinsurer’s Quota Share).

SCHEDULE C
RECAPTURE PAYMENT FORMULA

The Recapture Payment shall be: (i) the Monthly Settlement (which shall be expressed as a negative in this calculation if due to the Reinsurer) for the Monthly Accounting Period ending on the Termination Date; plus (ii) any other amounts that are due and unpaid by the Reinsurer; plus (iii) interest due on amounts overdue by the Reinsurer; plus (iv) the Reinsurer’s Quota Share of the NAIC Reserves attributable to the Reinsured Contracts; plus (v) the Interest Maintenance Reserve attributable to the Reinsured Risks as of the Recapture Effective Time; minus (vi) amounts withdrawn from the Trust Account that should be returned to the Reinsurer pursuant to the terms of the Trust Agreement; minus (vii) any other amounts that are due and unpaid by the Company; minus (viii) interest due on amounts overdue by the Company; minus (ix) the Unamortized Ceding Commission as of the Recapture Effective Time.  [REDACTED].

SCHEDULE D
TERMINAL ACCOUNTING SETTLEMENT REPORT
	
		
	1.    Monthly Settlement for the Monthly Accounting Period ending on the Termination Date
	 

	2.    Any other amounts that are due and unpaid by the Reinsurer
	 

	3.    Interest due on amounts overdue by the Reinsurer
	 

	4.    Reinsurer’s Quota Share of NAIC Reserves attributable to the Reinsured Contracts1
	 

	5.    Interest Maintenance Reserve attributable to the Reinsured Risks as of the Recapture Effective Time
	 

	6.    Amount withdrawn from the Trust Account that should be returned to the Reinsurer
	 

	7.    Any other amounts that are due and unpaid by the Company
	 

	8.    Interest due on amounts overdue by the Company
	 

	9.    Unamortized Ceding Commission as of the Recapture Effective Time
	 

	Total* = 1 + 2 + 3 + 4 + 5 - 6 - 7 - 8 - 9
	 

*[REDACTED].

1Based on the amount that the Company will be required to hold under Applicable Law immediately after the Recapture Effective Time

SCHEDULE E
EXPENSE ALLOWANCE
The monthly expense allowance shall equal A divided by B, where:
		
	A.
	is an amount equal to 0.15% of the NAIC Reserves held by the Reinsurer with respect to the reinsured variable payout annuity contracts, fixed payout annuity contracts, immediate annuity contracts and structured settlement contracts as of the first day of the applicable Monthly Accounting Period.

		
	B.
	is twelve (12).

SCHEDULE F-1
MONTHLY REINSURANCE SETTLEMENT REPORT
[see attached]

SCHEDULE F-2
SERIATIM DATA REPORT
 See the following reports listed on Schedule H of this Agreement: “Seriatim Valuation Feeds (excl. Reserves)”, “Seriatim Transaction File” and “Seriatim Valuation Feeds (incl. Reserves)”.

SCHEDULE F-3
STATEMENT OF NAIC RESERVES

SCHEDULE G
ANNUAL FINANCIAL REPORTS

	
				
	Report
	Frequency
	Timing
	Sample

	Blue Book Note 27 Support
	Annual
	Calendar Day 40
	See attached

	Exhibits 5 and 7 Support
	Annual
	Calendar Day 40
	See attached

	Exhibit of Annuities & Life Insurance Support
	Annual
	Calendar Day 40
	See attached

	Page 7 Support
	Annual
	Calendar Day 40
	See attached

SCHEDULE H
ONGOING REPORTS
Reports from the Company:
	
				
	Report
	Frequency
	Timing
	Sample

	Monthly Cash Flow Report (Payouts & SS)
	Monthly
	Business Day 5
	Refer to excel file titled “Monthly Cashflow Report (Payouts & SS).xlsx”

	Seriatim Valuation Feeds (excl. Reserves)
	Monthly
	Business Day 2
	Refer to the following excel files titled:

“Seriatim Valuation Feed (excl Reserves)_Fixed Payout.xlsx”

“Seriatim Valuation Feed (excl Reserves)_Structured Settlements.xlsx”

“Seriatim Valuation Feed (excl Reserves)_Variable Payout.xlsx”

	Seriatim Transaction File
	Monthly
	Business Day 41
	Refer to excel file titled “Seriatim Transaction File_Payouts & SS.xlsx”

1A draft of the report for period certain structured settlement contracts will be provided on Business Day 2. 

	
				
	Report
	Frequency
	Timing
	Sample

	Seriatim Valuation Feeds (incl. Reserves)
	Monthly
	Business Day 4
	Refer to the following excel files titled:

“Seriatim Valuation Feed (incl Reserves)_Fixed Payout.xlsx”

“Seriatim Valuation Feed (incl Reserves)_Structured Settlements.xlsx”

“Seriatim Valuation Feed (incl Reserves)_Variable Payout.xlsx”

	Tax Reserves
	Quarterly
	Business Day 7
	Refer to excel file titled “Tax Reserves.xlsx”

Reports from the Reinsurer:
	
				
	Report
	Frequency
	Timing
	Sample

	Quarterly RBC Estimate Report
	Quarterly
(Q1 – Q3)
	Calendar Day 45
	See attached

	
				
	Year-end RBC Report
	Annual
	Calendar Day 60
	See attached

RBC RATIO
	
		
	To:
	[COMPANY]

	 
	[STREET]

	 
	[CITY, STATE ZIP]

Re: RBC Ratio
This certification provides the RBC Ratio of the Reinsurer as defined in the Annuity Reinsurance Agreement between Hartford Life and Annuity Insurance Company and Commonwealth Annuity and Life Insurance Company, dated [ ] (as amended, modified or supplemented from time to time in accordance with its terms, the “Reinsurance Agreement”). As of [DATE], the RBC Ratio of the Reinsurer was [ ]%. The Reinsurer’s capital and surplus was $[ ], total adjusted capital was $[ ], and estimated company action level required capital was $[ ]. Capitalized terms not defined herein have the meanings set forth in the Reinsurance Agreement.
The Certification is executed on [DATE].
	
	
	Commonwealth Annuity and Life Insurance 
Company

	 

	 

	 

	Chief Financial Officer

SCHEDULE I
INTEREST MAINTENANCE RESERVE

Existing Interest Maintenance Reserve as of the Effective Date, as relates to:

		
	•
	Payout annuity Reinsured Contracts: $2,400,000

SCHEDULE J
COMMISSIONS
Is an amount equal to 0.40% of Separate Account value with respect to the reinsured variable payout annuity contracts as of the first day of the Monthly Accounting Period, divided by twelve (12). 

EXHIBIT 1
TRUST AGREEMENT
[see attached]

THE USE OF THE FOLLOWING NOTATION IN THIS EXHIBIT INDICATES THAT THE CONFIDENTIAL PORTION HAS BEEN OMITTED PURSUANT TO A REQUEST FOR CONFIDENTIAL TREATMENT AND THE OMITTED MATERIAL HAS BEEN FILED SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION: [REDACTED]
Exhibit 1
TRUST AGREEMENT
This TRUST AGREEMENT, dated June 1, 2018 (this “Trust Agreement”), among Commonwealth Annuity and Life Insurance Company, an insurance company organized under the Laws of the State of Massachusetts (the “Grantor”), Hartford Life and Annuity Insurance Company, a life insurance company organized under the laws of the State of Connecticut (the “Beneficiary”), and The Bank of New York Mellon, a New York banking corporation (the “Trustee”) (the Grantor, the Beneficiary and the Trustee are hereinafter each sometimes referred to individually as a “Party” and collectively as the “Parties”).
WITNESSETH:
WHEREAS, pursuant to an Annuity Reinsurance Agreement, dated as of June 1, 2018, by and between the Beneficiary and the Grantor, the Beneficiary is ceding to the Grantor, and the Grantor is reinsuring specified fixed immediate and deferred annuity contracts, variable payout separate account annuity contracts and structured settlement annuity contracts of the Beneficiary (the “Reinsurance Agreement”) pursuant to the terms and conditions thereof;
WHEREAS, the Grantor desires to transfer, or cause to be transferred, to the Trustee for deposit to a trust account (including any sub-accounts thereunder, the “Trust Account”), pursuant to Article IX of the Reinsurance Agreement, certain assets as security for the payment and performance by the Grantor of its obligations under the Reinsurance Agreement;
WHEREAS, the Trustee has agreed to act as trustee hereunder, and to hold such assets in trust in the Trust Account for the sole use and benefit of the Beneficiary for such purposes in accordance with the terms and conditions of this Trust Agreement; and
WHEREAS, this Trust Agreement is made for the sole use and benefit of the Beneficiary and for the purpose of setting forth the rights, duties and powers of the Trustee with respect to the Trust Account.
NOW, THEREFORE, for and in consideration of the premises and for other good and valuable consideration, the receipt of which is hereby acknowledged, the Parties hereby agree as follows:
Section 1.1    Deposit of Assets to the Trust Account.
(a)The Grantor hereby establishes the Trust Account with the Trustee for the sole use and benefit of the Beneficiary, under the terms set forth herein. The Beneficiary is required to deposit into the Trust Account as an initial deposit the assets listed on Schedule I attached hereto, having an aggregate fair market value satisfying the requirements under Sections 4.3 and 4.4 of the Reinsurance Agreement, as jointly confirmed in writing by the Grantor and the Beneficiary to the Trustee.  The Trustee shall administer the Trust Account in its name as trustee for the sole benefit of the Beneficiary. The Trust Account shall be subject to withdrawal by the Beneficiary and the Grantor solely as provided herein. The Trustee hereby accepts the Trust Account upon the terms set forth in this Trust Agreement. 

(b)The Grantor shall transfer, or shall cause to be transferred, to the Trustee, for deposit to the Trust Account, such assets as may be required from time to time pursuant to the Reinsurance Agreement 

including any overcollateralization amount contemplated thereby (all such assets are herein referred to individually as an “Asset” and collectively as the “Assets”). The Trustee is authorized and shall have power to receive the Assets from the Grantor and to hold, invest, reinvest and dispose of the same for the uses and purposes of and according to the provisions herein set forth. All Assets shall be maintained by the Trustee in the Trust Account separate and distinct from all other assets on the books and records of the Trustee and in accordance with the terms of this Trust Agreement. The Assets shall consist only of Eligible Investments (as hereinafter defined). All Eligible Investments and other Assets credited to the Trust Account shall be registered in the name of the Trustee or its nominee (except for Commercial Mortgage Loans or participations therein) and shall be held by the Trustee in its capacity as trustee and securities intermediary hereunder. No such Eligible Investment or other Asset credited to the Trust Account shall be registered in the name of the Grantor, payable to the order of the Grantor or endorsed to the Grantor, it being agreed and understood that title to all Eligible Investments and other Assets credited to the Trust Account must be held by the Trustee. If any Asset is no longer an Eligible Investment or becomes impaired, the Grantor shall promptly substitute or deposit other Assets which meet the requirements of an Eligible Investment and, if a substitution, having a Book Value greater than or equal to the Book Value, and having a fair market value greater than or equal to the fair market value, of such substituted Asset; provided, however, that the total value of the Assets held in the Trust Account, to the extent required, is equal to or exceeds the Required Balance, in compliance, and as calculated in accordance, with Exhibit C hereto.  The Trustee shall accept for deposit into the Trust Account any asset transferred to the Trustee from time to time by the Beneficiary pursuant to a written directive and designated to be deposited into the Trust Account, and all such assets shall be considered “Assets” for purposes of this Agreement and shall be subject to the provisions of this Agreement.  The Trustee shall have no duty or responsibility to determine whether any Assets constitute Eligible Investments or to determine the fair market value of any Assets held in the Trust Account.  The Grantor shall be solely responsible for making such determinations.
(c)The Grantor hereby represents and warrants (i) that any Assets transferred by the Grantor to the Trustee for deposit to the Trust Account will be in such form that the Beneficiary whenever necessary may, and the Trustee upon direction by the Beneficiary will, negotiate any such Assets without consent or signature from the Grantor or any other Person or entity in accordance with the terms of this Trust Agreement, (ii) that all Assets transferred by the Grantor to the Trustee for deposit into the Trust Account will consist only of Eligible Investments, (iii) that Grantor has, at the time of transfer into this Trust Account, conveyed to the Trustee good and marketable title to the Assets to be so transferred and each such Asset shall be at the time of transfer free and clear of all claims, liens, interests and encumbrances (other than those arising under this Trust Agreement) and (iv) that Grantor will not cause the Trustee to take any action that would create, incur, assume or permit any claim, lien or encumbrance on any Asset in the Trust Account (other than those arising under this Trust Agreement).
(d)Prior to depositing the Assets into the Trust Account, and from time to time thereafter as required, the Grantor shall execute assignments, endorsement in blank, or transfer legal title to the Trustee of all shares, obligations or other Assets requiring assignments, so that the Beneficiary whenever necessary may, and the Trustee upon the direction by the Beneficiary will, negotiate any such Assets without the consent or signature from the Grantor or any other Person or entity.
(e)The parties recognize that certain Assets will not be readily negotiable and that certain notices, opinions of counsel, representations and/or consents will be required for the Beneficiary to obtain good and marketable title to such Assets. In the event any such Asset is not readily negotiable, the Trustee shall only be required to deliver the Asset, together with any assignment or other document related to such Asset and previously actually deposited with the Trustee, to the Beneficiary in accordance with a Beneficiary Request for Withdrawal (as hereinafter defined).  Any notice, opinion of counsel, representation or consent required to negotiate the Assets shall be provided by the Beneficiary for the initial deposit described in Section 1.1(a), and by the Grantor for any other conveyance of Assets to the Trust Account.

Section 1.2.    Deposit of Commercial Mortgage Loans.
(a)     In the case of Commercial Mortgage Loans, the Grantor shall effect such transfer through delivery by the Grantor to the Trustee of a complete and accurate set of the related Loan Assignment Documents.  
(b)    In the case of Eligible Investments that are Commercial Mortgage Loans, the Grantor grants to the Trustee all powers necessary and reasonable in the performance of its duties hereunder except as otherwise expressly provided herein.  Subject to the terms, conditions and limitations set forth in this Agreement, the Trustee may execute and deliver in the name of the Grantor or the Beneficiary, as permitted by Section 2 of this Agreement, as the case may be, any assignments, stock or bond powers or other documents or instruments which the Trustee deems necessary or convenient and proper (1) to sell, assign, transfer, or make other disposition of any security or other property in the Trust Account; provided that the Trustee shall only sell, assign, transfer or dispose of any Commercial Mortgage Loan in accordance with this Agreement and by sale, assignment or transfer of the whole Commercial Mortgage Loan; (2) to take any necessary action in relation to any such security or property as required pursuant to Section 1.2(c); or (3) to obtain any payment due, but only as instructed by the Grantor or the Beneficiary in accordance with the terms of this Agreement.  Each of the Trustee and the Beneficiary is hereby authorized and empowered hereunder (x) to prepare and file, on behalf of itself or either of them, any UCC-3 assignment, and (y) and record any assignments delivered as to a Loan Assignment Document in the related real property records, in each case in connection with the withdrawal of any Commercial Mortgage Loan pursuant to a Beneficiary Request for Withdrawal or in connection with the sale, assignment or transfer of any Commercial Mortgage Loan.
(c)    (i)    In connection with the deposit of any Commercial Mortgage Loan into the Trust Account on the date of the closing of the transactions contemplated in the Reinsurance Agreement (the “Closing” and such date, the “Closing Date”): (A) the Beneficiary shall (x) deliver (or cause to be delivered) to the Trustee a complete and accurate set of the executed originals of related Loan Assignment Documents (other than Trailing Documents, only copies of executed originals of which will be delivered)  together with a CML Assignment Document Certification from the Beneficiary, and (y) deliver to the Grantor copies of such Loan Assignment Documents.  The Trustee shall provide a Custody Transmission to the Grantor and the Beneficiary with respect to every Commercial Mortgage Loan deposited in the Trust Account in connection with the Closing (X) within six (6) Business Days following the Trustee’s receipt of the Loan Assignment Documents in accordance with this Section 1.2(c)(i), (Y) on a monthly basis concurrently with the delivery of the Monthly Statement, and (Z) upon the written request of the Beneficiary or Grantor.  For the avoidance of doubt, delivery of the Loan Assignment Documents in connection with the Closing shall be the Beneficiary’s responsibility.
(ii)    In connection with any subsequent deposit of any Commercial Mortgage Loan into the Trust Account after the Closing Date, (A) the Grantor shall (x) deliver (or cause to be delivered) to the Trustee a complete and accurate set of the executed originals of the related Loan Assignment Documents (other than Trailing Documents, only copies of executed originals of which will be delivered) together with a CML Assignment Document Certification, and (y) deliver to the Beneficiary copies of such Loan Assignment Documents. The Trustee shall provide a Custody Transmission to the Grantor and the Beneficiary with respect to every Commercial Mortgage Loan deposited in the Trust Account subsequent to the Closing (X) as promptly as possible, but in no event later than fifteen (15) Business Days after such receipt, (Y) on a monthly basis concurrently with the delivery of the Monthly Statement, and (Z) upon the written request of the Beneficiary or Grantor.  For the avoidance of doubt, delivery of the Loan Assignment Documents subsequent to the Closing shall be the Grantor’s responsibility.
(iii)    Upon its receipt of the Loan Assignment Documents relating to any Commercial Mortgage Loan, Trustee shall compare the delivered Loan Assignment Documents to the related CML Assignment Document Certification and shall provide all related Custody Transmissions to the 

Grantor and the Beneficiary within the time frames set forth in paragraphs (c)(i)(X) and (c)(ii)(X) above, as applicable, and if the Trustee shall determine that such documents do not substantially conform to the description of such documents specified in the CML Assignment Document Certification, delivered by the Grantor or the Beneficiary (as applicable) to the Trustee in respect of such Commercial Mortgage Loan, or if for any reason the Trustee is unable to confirm that the documents are as specified in such CML Assignment Document Certification, the Trustee shall identify such Commercial Mortgage Loan, as having an exception (an “Exception”) on the applicable Custody Transmission.  With respect to any deposit of Commercial Mortgage Loans into the Trust Account, the Grantor, or the Beneficiary, as applicable, shall be solely responsible for delivering to the Trustee in a timely manner each and every Loan Assignment Document required for each Commercial Mortgage Loan deposited into the Trust, and for completing or correcting any missing, incomplete or inconsistent documents and the Trustee shall not be responsible or liable for taking any action to ensure the Grantor or Beneficiary has complied with its delivery obligation hereunder, causing any other Person to do so or notifying the Grantor that any such action has or has not been taken.   A Commercial Mortgage Loan shall be deemed an Asset in the Trust Account only after the Trustee has delivered a completed Custody Transmission to the Beneficiary in respect of such Commercial Mortgage Loan, confirming that all originals of the executed Loan Assignment Documents or (solely with respect to Trailing Documents, copies thereof) have been received by the Trustee with no Exceptions, and if an Exception is noted by the Trustee on the Custody Transmission, only after all Exceptions have been addressed to the Trustee’s reasonable satisfaction and originals of the executed Loan Assignment Documents or (solely with respect to Trailing Documents, copies thereof) have been received by the Trustee.
(iv)    With respect to the Trailing Documents: (x) the Parties acknowledge that the Trailing Documents are not required for the initial deposit and acceptance of a Commercial Mortgage Loan in the Trust Account; (y) the Grantor covenants that, upon its receipt of a Trailing Document, it shall promptly provide such Trailing Document to the Trustee; and (z) in the event that the Trailing Documents with respect to any Commercial Mortgage Loan are not so provided within ninety (90) days following such initial deposit and acceptance, such Commercial Mortgage Loan shall cease to be an “Asset” for the purposes of this Agreement, in each case until all Trailing Documents are delivered to the Trustee.
(v)    Notwithstanding paragraphs (c)(i), (c)(ii) and (c)(iii) above, it is herein acknowledged that, in accepting a deposit of any Commercial Mortgage Loan into the Trust Account, the Trustee shall be under no duty or obligation to inspect, review or examine the actual content or substance of any related Loan Assignment Documents, any other loan document, security document or any other related document, instrument or agreement or to determine that they are genuine, enforceable, or appropriate for the represented purpose or that they have actually been recorded or that they are other than what they purport to be on their face.  In no event shall the Trustee be responsible for the preparation of any Loan Assignment Documents, any other loan document, security document or any other instruments, agreements or documents relating to the Commercial Mortgage Loan or required for the deposit of the Commercial Mortgage Loan into the Trust Account or for the expenses of such preparation or any other costs related thereto, including any filing fees therefor.
(vi)    The Trustee’s administrative obligations hereunder in respect of the Commercial Mortgage Loans shall be limited to (x) the preparation and delivery of a Custody Transmission in respect of each Commercial Mortgage Loan, including notation of any Exceptions, and (y) the execution of instruments or other documents provided to it, including Trustee Loan Assignment Documents, and the Trustee shall take no action with respect to any Commercial Mortgage Loan or 

any Underlying Asset, except at the written direction of the Grantor or the Beneficiary, as applicable, or as otherwise permitted pursuant to this Agreement.  Any compensation and expenses payable to any servicer under the Servicing Agreements shall be paid by the Grantor, and, if charged to and paid by the Trustee (it being understood that the Trustee has no obligation to pay any such amounts), shall be reimbursed as expenses of the Trustee by the Grantor in accordance with Section 9(a); provided that any such compensation and expenses may be payable out of assets in the Trust Account or Income Account.
With respect to any assignment and assumption agreement relating to a Commercial Mortgage Loan, the Trustee is hereby authorized and directed, not in its individual capacity but solely in its capacity as Trustee, to execute and deliver such assignment and assumption agreements presented to the Trustee for execution from time to time. To the extent that, under the assignment and assumption agreements, the Trustee as assignee has undertaken or assumed any obligations or made any representations, warranties or covenants, such obligations, representations, warranties or covenants shall not be those of the Trustee, but shall instead be those of the Grantor and the Grantor shall perform or cause to be performed all such obligations, representations, warranties or covenants.
(d)    The Grantor hereby represents, warrants and covenants (i) that any assets transferred by the Grantor to the Trustee for deposit to the Trust Account will be in such form that the Beneficiary whenever necessary may, and the Trustee upon direction by the Beneficiary may, negotiate any such assets without consent or signature from the Grantor or any Person in accordance with the terms of this Agreement; and (ii) that all assets delivered (or caused to be delivered) by the Grantor to the Trustee for deposit to the Trust Account will consist only of Eligible Investments at the time of such transfer. In furtherance of the foregoing, the Grantor shall take such actions that shall become necessary or appropriate to maintain the assignability of Commercial Mortgage Loans held in the Trust Account during the term of this Agreement, including but not limited to, obtaining any consents necessary to transfer any Commercial Mortgage Loans to or from the Trust Account.  The Grantor hereby represents, warrants and covenants with the Beneficiary and the Trustee that any consents required to effect any sale, transfer or assignment with respect to any Commercial Mortgage Loan have been or will have been obtained prior to the deposit of such Commercial Mortgage Loan into the Trust Account.  The Trustee shall have no responsibility whatsoever to determine at any time whether any Assets are or continue to be Eligible Investments.

Section 2.    Withdrawal of Assets from the Trust Account.

(a)    The Beneficiary shall have the right, at any time and from time to time, to withdraw from the Trust Account, upon notice to the Trustee in the form of a certificate and request for withdrawal substantially in the form of Exhibit A attached hereto (the “Beneficiary Request for Withdrawal”), signed by two (2) duly authorized officers of the Beneficiary, such Assets as are specified in such Beneficiary Request for Withdrawal.  The Beneficiary shall simultaneously deliver a copy of such notice to the Grantor; provided, however, that the Trustee shall not be required to confirm delivery of such copy.  Such withdrawal by the Beneficiary shall be made only in the circumstances permitted by Section 9.8(a) of the Reinsurance Agreement (the text of which section is set forth on Exhibit C to this Agreement) and then only in the amount permitted to be withdrawn pursuant to Section 9.8(a).  The Beneficiary shall not submit the Beneficiary Request for Withdrawal except as permitted by the immediately preceding sentence. The Beneficiary shall acknowledge in writing receipt of any such Assets withdrawn from the Trust.  
(b)    Upon receipt of a Beneficiary Request for Withdrawal in accordance with Section 2(a) above, the Trustee shall as soon as practicable, but in no event later than two (2) Business Days, take any and all steps necessary to transfer the Assets specified in such Beneficiary Request for Withdrawal, and shall deliver such Assets to or for the account of the Beneficiary or such designee as specified in such Beneficiary Request 

for Withdrawal; provided, however, that such transfer shall occur no later than two (2) Business Days following receipt of such request.  The Trustee agrees to notify the Grantor of the occurrence of any such withdrawal by the Beneficiary within two (2) Business Days following such delivery.  In addition, the Beneficiary agrees with Grantor that it shall provide a certificate to the Grantor in the form of Exhibit E attached hereto, certifying that the withdrawal has been made in accordance with Section 9.8(a) of the Reinsurance Agreement, within the two (2) Business Day period as required therein.
(c)    Without limiting the applicability of the foregoing, in connection with the withdrawal of any Commercial Mortgage Loan, the Beneficiary shall direct the Trustee in writing to, and the Trustee shall, in its capacity as Trustee and not in its individual capacity, date, as applicable, the Trustee Loan Assignment Documents to endorse and transfer the Commercial Mortgage Loan to the Beneficiary, and the Trustee shall reasonably cooperate with the Beneficiary in providing any information or documentation necessary to effect such assignment (to the extent such information or documentation exists and is in the possession or control of the Trustee).  The Grantor hereby grants the Beneficiary a limited power of attorney to act on the behalf of the Grantor to the extent (and only to such extent) necessary to obtain the consents or approvals required to effect the transfer of any Commercial Mortgage Loan in connection with any withdrawal by the Beneficiary permitted hereunder, and the Grantor shall reasonably cooperate with the Beneficiary in providing any information or documentation necessary to effect such sale, transfer or assignment.  In the event that the Beneficiary withdraws a Commercial Mortgage Loan from the Trust Account pursuant to this Agreement, then, unless otherwise agreed upon by the Grantor and the Beneficiary in writing with notice to the Trustee, only the entire whole Commercial Mortgage Loan (and not a portion thereof) or the entire participation interest in a Commercial Mortgage Loan then in the Trust Account may be assigned or transferred to the Beneficiary.  
(d)    (1)    Unless and until a Notice of Exclusive Control is given to the Trustee pursuant to Section 11, the Grantor may, at any time and from time to time, withdraw from the Trust Account, after providing written notice to the Trustee.  Grantor may make such request using the form of certificate and request for withdrawal substantially in the form of Exhibit B attached hereto (the “Grantor Request for Withdrawal”), signed by duly authorized officers of the Grantor, and specifying such Assets Grantor intends to withdraw.  Such withdrawal by the Grantor may be made only pursuant to Section 9.6 of the Reinsurance Agreement (the text of which section is set forth on Exhibit C to this Agreement).
(2)    The Grantor shall acknowledge in writing receipt of any such Assets withdrawn from the Trust.  
(e)    Upon receipt of a Grantor Request for Withdrawal in accordance with Section 2(d) above, the Trustee shall take any and all steps necessary to transfer the Assets specified in such Grantor Request for Withdrawal, and shall deliver such Assets to or for the account of the Grantor or such designee as specified in such Grantor Request for Withdrawal (i) no later than two (2) Business Days following receipt of such request, if (A) such request is in respect of any withdrawal and transfer of cash in connection with the payment by the Grantor of an amount specified in a Monthly Reinsurance Settlement Report and (B) the conditions in clauses (x) and (a) through (c) in Section 9.6 of the Reinsurance Agreement are all met or (ii) on the fifth Business Day following the date of such Grantor Request for Withdrawal, in respect of all other requests made pursuant to Section 9.6 of the Reinsurance Agreement unless Beneficiary shall have objected to such withdrawal in writing within such five (5) Business Day period.  The Trustee shall provide notice to the Beneficiary of the withdrawal within two (2) Business Days following such delivery.  In addition, in respect of a withdrawal pursuant to clause (i) of this Section 2(e), the Grantor shall provide a certificate to the Beneficiary in the form of Exhibit D attached hereto, certifying that such withdrawal has been made in accordance with Section 9.6 of the Reinsurance Agreement, within such two (2) Business Day period.  
(f)    Without limiting the applicability of the foregoing, in the event that the Grantor makes a demand to the Trustee to withdraw a Commercial Mortgage Loan held in the Trust Account under this Section 2, then only the entire whole Commercial Mortgage Loan (and not a portion thereof) or the entire participation 

interest in a Commercial Mortgage Loan may be withdrawn by the Grantor; provided, further, that in connection with any withdrawal of any Commercial Mortgage Loan hereunder, the Grantor or the applicable investment manager shall (A) direct the Trustee in writing to, and the Trustee shall, execute and return the Trustee Loan Assignment Documents to the Grantor and (B) obtain any consents required to effect such sale, transfer or assignment, and the Trustee shall reasonably cooperate with the Grantor or the investment manager in providing any information or documentation necessary to effect such withdrawal (to the extent such information or documentation exists and is in the possession or control of the Trustee); provided that, for the avoidance of doubt, the Grantor shall be permitted to release single assets from the Commercial Mortgage Loans encumbering multiple assets by payment of the applicable release price, as confirmed by the Grantor and Beneficiary, received thereunder to the Trustee (e.g., release of a single condo unit in a condominium encumbered by the Commercial Mortgage Loan).
(g)    In the event of any dispute between, or conflicting claims by or between, the Grantor and the Beneficiary concerning the right of the Grantor or the Beneficiary to initiate a withdrawal of Assets pursuant to this Section 2, the Trustee shall, notwithstanding such dispute or conflicting claims, promptly, and without further inquiry, comply with the terms of any Beneficiary Request for Withdrawal or Grantor Request for Withdrawal (collectively a “Withdrawal Notice”) received by it in accordance with this Agreement, provided, however, that the Trustee shall not be or become liable in any way to the Grantor or the Beneficiary for complying with such Withdrawal Notice and the Trustee shall be fully and completely indemnified in accordance with the provisions of Section 9 hereof.
(h)    The Trustee shall enable the Beneficiary to view each deposit to, or withdrawal from, the Trust Account by providing the Beneficiary access to the Trustee’s online portal with respect to the Trust Account.
(i)    Subject to Section 1(b) and Section 4, in the absence of a Beneficiary Request for Withdrawal or a Grantor Request for Withdrawal, the Trustee shall allow no substitution or withdrawal of any Asset from the Trust Account.
Section 3.    Application of Assets.
(a)    The Beneficiary shall be permitted to withdraw Assets from the Trust Account only for the purposes of satisfying obligations of the Grantor under Section 9.8(a) of the Reinsurance Agreement that have not been satisfied within five (5) Business Days after a demand therefor by the Beneficiary.
(b)    The Trustee shall have no responsibility whatsoever to determine that any Assets withdrawn from the Trust Account pursuant to Section 2 of this Agreement will be used and applied in the manner contemplated by paragraph (a) of this Section 3.
Section 4.     Redemption, Investment and Substitution of Assets.
(a)    The Trustee shall surrender for payment all maturing Assets and all Assets called for redemption, and deposit the principal amount of the proceeds of any such payment to the Trust Account.
(b)    The Grantor may retain (and pay the service fees of) one or more professional asset managers (each, an “Asset Manager”) to manage and make investment decisions with regard to the Assets held by the Trustee in the Trust Account, including any sub-accounts thereunder. The initial Asset Managers shall be Hartford Investment Management Company and the Grantor. The Grantor shall cause the Asset Managers to comply with the investment guidelines attached hereto as Exhibit F (the “Investment Guidelines”), which sets forth the division of duties between such parties with respect to making investment decisions, including what instructions such parties may provide to the Trustee.  From time to time, at the written order and direction of the Grantor or any Asset Manager (with respect to the Assets managed by such Asset Manager), the Trustee shall invest Assets in the Trust Account in Eligible Investments.
(c)    From time to time and in accordance with Section 9.7 of the Reinsurance Agreement (the text of which section is set forth on Exhibit C to this Agreement), the Grantor or any Asset Manager (with respect to the Assets managed by such Asset Manager) may provide notice to the Trustee and the Beneficiary of its desire to substitute specified Assets in the Trust Account with Eligible Investments having an aggregate Book Value greater than or equal to the aggregate Book Value of such Assets being replaced and having an aggregate 

fair market value greater than or equal to the aggregate fair market value of such Assets being replaced, so long as following such substitution all assets in the Trust Account are Eligible Investments.  Such notice of substitution shall be substantially in the form of Exhibit G, attached, and shall specify by CUSIP the specific assets to be deposited in, and withdrawn from, the Trust Account, and shall contain a certification to the Trustee and the Beneficiary that the assets to be deposited in the Trust Account are Eligible Investments. Five (5) Business Days after receipt of such notice from the Grantor or any Asset Manager by the Trustee, the Trustee shall distribute the specified assets to the Grantor or applicable Asset Manager upon receipt of the specified assets from the Grantor or the applicable Asset Manager. The Trustee shall have no responsibility whatsoever to determine the aggregate Book Value of such substituted Assets or that such substituted Assets constitute Eligible Investments.
(d)    All investments and substitutions of securities referred to in Section 4(b) and Section 4(c) above shall be in compliance with the definition of “Eligible Investments” in Section 14 of this Trust Agreement. Any instruction or order concerning such investments or substitutions of securities shall be referred to herein as an “Investment Order”. The Trustee shall execute Investment Orders and settle securities transactions by itself or by means of an agent or broker. The Trustee shall not be responsible for any act or omission, or for the solvency, of any such agent or broker.
(e)    Any investment orders related to the sale, transfer or assignment of any Commercial Mortgage Loan (other than in connection with a substitution or exchange covered under Section 4(c) or Section 4(j)) shall only be effected by the Grantor or the applicable investment manager in accordance with Section 12(a).
(f)    When the Trustee is directed to deliver Assets against payment, delivery will be made in accordance with generally accepted market practice.
(g)    Any loss incurred from any investment pursuant to the terms of this Section 4 shall be borne exclusively by the Trust Account.
(h)    All items of income, gain, expense and loss recognized in the Trust Account shall be reported to the Internal Revenue Service and all state and local taxing authorities under the name and taxpayer identification number of the Grantor.
(i)    Without limiting the applicability of the foregoing and subject to the Reinsurance Agreement, with respect to the Commercial Mortgage Loans, in the substitution notice to the Trustee, the Grantor or the applicable investment manager shall (1) direct the Trustee in writing to, and the Trustee shall, in its capacity as Trustee and not in its individual capacity, execute and deliver to the Grantor, the Trustee Loan Assignment Documents, for the Commercial Mortgage Loan being replaced, and (2) obtain any consents required to effect such substitution, and the Trustee shall reasonably cooperate with the Grantor or the investment manager in providing any information or documentation necessary to effect such substitution (to the extent such information or documentation exists and is in the possession or control of the Trustee).  The Grantor may from time to time designate a third party in the substitution notice to whom the Trustee Loan Assignment Documents, including the original Note and the Loan Assignment Allonge or the Participation Certificate, as applicable shall be delivered.  
(j)    Subject to the Reinsurance Agreement and the provisions of this Section 4(j), the Grantor shall also have the right, at any time and from time to time, to withdraw from the Trust Account, subject only to three (3) Business Days’ prior written notice from the Grantor to the Trustee and the Beneficiary in the form attached hereto as Exhibit H (a “Grantor Servicing Notice”), such Commercial Mortgage Loan or Commercial Mortgage Loans as are specified in such Grantor Servicing Notice, which notice shall include a certification by the Grantor to the Trustee and the Beneficiary that the withdrawal of the Commercial Mortgage Loan or Commercial Mortgage Loans is required in connection with (i) the pay-off of any Commercial Mortgage Loan, (ii) the sale of a Commercial Mortgage Loan by the Grantor or (iii) the modification, servicing, restructuring, foreclosure, deed-in-lieu or other liquidation of any Commercial Mortgage Loan.  In the Grantor Servicing Notice delivered in connection with any withdrawal of any Commercial Mortgage Loan pursuant to this Section 4(j), the Grantor or the applicable investment manager shall (1) direct the Trustee in writing to, and the Trustee shall, in its capacity as Trustee and not in its individual 

capacity, execute and deliver to the Grantor, the Trustee Loan Assignment Documents, and (2) obtain any consents required to effect such withdrawal, and the Trustee shall reasonably cooperate with the Grantor or the investment manager in providing any information or documentation necessary to effect such withdrawal (to the extent such information or documentation exists and is in the possession or control of the Trustee). The Grantor may from time to time designate a third party in a Grantor Servicing Notice to whom the Trustee Loan Assignment Documents, including the original Note and the Loan Assignment Allonge or the Participation Certificate, as applicable shall be delivered.  The Grantor Servicing Notice shall include a certification that, as applicable, (A) the proceeds from a transaction of the type described in clause (i) or (ii) of the first sentence of this Section 4(j) will be paid into the Trust Account within three (3) Business Days; or (B) in the case of clause (iii) of the first sentence of this Section 4(j), that any net cash proceeds from such foreclosure sale or liquidation shall be paid into the Trust Account within three (3) Business Days.  For avoidance of doubt, in the event that the Grantor comes into possession of any cash proceeds, the Grantor acknowledges and agrees (i) that it holds such proceeds in trust for the benefit of the Beneficiary, and (ii) that it will transfer such proceeds to the Trust Account as soon as reasonably practical following receipt by the Grantor, except in each case, to the extent that it has previously deposited other Assets into the Trust Account to replace some or all of the value of the withdrawn Commercial Mortgage Loan.  The withdrawal of a Commercial Mortgage Loan pursuant to this Section 4(j) shall reduce the Book Value or fair market value, as applicable, of the Assets in the Trust Account by the value of the asset so withdrawn in the event the Grantor does not deposit such cash proceeds, and/or other Assets (which may include a modified or restructured Commercial Mortgage Loan with a Book Value or fair market value, as applicable, at least equal to the value of such withdrawn Commercial Mortgage Loans), within three (3) Business Days following such withdrawal.  For the avoidance of doubt, in no event shall real estate owned resulting from any such foreclosure, deed-in-lieu or other liquidation be deposited into the Trust Account.  Notwithstanding anything herein to the contrary, at no time shall the value of any Commercial Mortgage Loans “in transit” (i.e., such Commercial Mortgage Loan is withdrawn from the Trust Account for one of the purposes set forth in clause (i) through (iii) of this Section 4(j) without simultaneously being replaced with Eligible Investments with the same value) under this Section 4(j) exceed $50 million.  The Grantor shall not be required to present any other statement or document in addition to a Grantor Servicing Notice in order to withdraw any Commercial Mortgage Loan, and the Grantor shall acknowledge receipt of any Commercial Mortgage Loans, withdrawn from the Trust Account upon request by the Trustee.  The Trustee shall have no liability or responsibility to verify or determine the occurrence of any event or condition giving rise to the Grantor’s right to withdraw Commercial Mortgage Loans from the Trust Account pursuant to a Grantor Servicing Notice or to monitor the Grantor’s compliance with its obligation to deposit proceeds of any withdrawn Asset, and the Trustee shall be fully protected in relying conclusively on the Grantor Servicing Notice.  
Section 5.    The Income Account.  (a) All payments of interest, dividends and other income in respect to Assets in the Trust Account (it being agreed that with respect to Commercial Mortgage Loans, such amounts shall be deposited in the Income Account after retention by the related servicer of required escrows and reserves to the extent contemplated pursuant to the terms of the applicable loan agreement and the Servicing Agreement) shall be the property of the Grantor and shall be deposited by the Trustee subject to deduction of the Trustee’s compensation and expenses as provided in Section 9 of this Agreement, in a separate income column of custody ledger (the “Income Account”) established and maintained by the Grantor at an office of the Trustee. The Grantor, upon written notice to the Trustee, may withdraw amounts from the Income Account at any time and from time to time. Any interest, dividend or other income automatically posted and credited on the payment date to the Income Account which is not subsequently received by the Trustee shall be reimbursed by the Grantor to the Trustee and the Trustee may debit the Income Account for this purpose.
(b)    To the extent received from a servicer under any Servicing Agreements the Grantor shall deliver (i) to the Trustee monthly remittance reports that detail the payments of Net Collections, interest and other income received in respect of each of the Commercial Mortgage Loans, and (ii) in accordance with 

the applicable Servicing Agreement(s) for deposit into the Trust Account, all Net Collections generated by Commercial Mortgage Loans in the Trust Account, it being agreed that Grantor may satisfy such obligations by causing servicer to deliver such reports and amounts directly to the Trustee.  To the extent that the Trustee receives in the Trust Account such income together with principal in a single payment, the Trustee shall, in accordance with the information contained in the monthly remittance reports to be delivered by or on behalf of the Grantor as provided below, allocate such income to the Income Account.  For the avoidance of doubt, no principal payments on any of the Commercial Mortgage Loans shall be deposited into the Income Account.  
Section 6.    Right to Vote Assets.  Whenever there are voluntary rights that may be exercised or alternate courses of action that may be taken by reason of the Grantor’s ownership of Eligible Investments, the Grantor or its designee shall be responsible for making any decisions relating thereto and for directing the Trustee to act. The Trustee shall notify the Grantor or its designee of rights or discretionary actions with respect to Eligible Investments as promptly as practicable under the circumstances, provided that the Trustee has actually received notice of such right or discretionary corporate action from the relevant depository, etc. Absent actual receipt of such notice, the Trustee shall have no liability for failing to so notify the Grantor or its designee. Absent the Trustee’s timely receipt of instructions, the Trustee shall not be liable for failure to take any action relating to or to exercise any rights conferred by such Eligible Investments.
Section 7.    Additional Rights and Duties of the Trustee.
(a)    Before accepting any Asset for deposit to the Trust Account, the Trustee shall determine that such Asset is in such form that the Beneficiary whenever necessary may, or the Trustee upon direction by the Beneficiary will, negotiate such Asset without consent or signature from the Grantor or any Person or entity other than the Trustee in accordance with the terms of this Trust Agreement.
(b)    The Trustee shall be under no obligation to determine whether or not any instructions given by the Grantor and Beneficiary are contrary to any provision of law. It is understood and agreed that the Trustee’s duties are solely those set forth herein and that the Trustee shall have no duty to take any other action unless specifically agreed to by the Trustee in writing. Without limiting the generality of the foregoing, the Trustee shall not have any duty to advise, manage, supervise or make recommendations with respect to the purchase, retention or sale of Assets with respect to any Assets in the Trust Account as to which a default in the payment of principal or interest has occurred or to be responsible for the consequences of insolvency or the legal inability of any broker, dealer, bank or other agent employed by the Grantor or Trustee with respect to the Assets.  The Trustee agrees to use reasonable efforts to advise the Grantor and the Beneficiary of the occurrence of any default with respect to securities held in trust hereunder to the extent that it has received notice of same.
(c)    The Trustee shall accept and open all mail directed to the Grantor or the Beneficiary in care of the Trustee.
(d)    The Trustee shall have no responsibility whatsoever to determine that any Assets in the Trust Account are or continue to be Eligible Investments or to determine the value of any Asset.
(e)    The Trustee shall furnish to the Grantor and the Beneficiary a statement (the “Asset Statement”), containing (i) a description of all of the Assets in the Trust Account and (ii) information pertaining to all deposits, withdrawals and substitutions made during the statement period, upon the inception of the Trust Account and at the end of each calendar month thereafter; provided, however, the Asset Statement shall not include any other information regarding Commercial Mortgage Loans or Bank Loans (which shall be reported on the applicable Custody Transmission).  The Asset Statement shall be delivered within five (5) Business Days following the end of each such calendar month.  The Asset Statement to be delivered pursuant to this Section 7(e) shall be deemed delivered by the Trustee to the Grantor and the Beneficiary to the extent that prior to the end of such calendar month, the Grantor and the Beneficiary, as the case may be, had requested and been given access to the Trustee’s automated data system affording on-line access to Trust Account information and such information is posted by the Trustee on such system within the relevant period.

(f)    The Trustee shall keep full and complete records of the administration of the Trust Account in accordance with all applicable law. Upon the request of the Grantor or the Beneficiary, the Trustee shall promptly permit the Grantor or the Beneficiary, their respective agents, employees, independent auditors and regulatory authorities to examine, audit, excerpt, transcribe and copy, during the Trustee’s normal business hours, any books, documents, papers and records relating to the Trust Account or the Assets.
(g)    (1) Unless otherwise provided in this Trust Agreement, the Trustee is authorized to follow and rely upon all instructions given by officers named in incumbency certificates furnished to the Trustee from time to time by the Grantor, any relevant Asset Manager and the Beneficiary, respectively, and by attorneys-in-fact acting under written authority furnished to the Trustee by the Grantor or the Beneficiary, including, without limitation, instructions given by letter, facsimile transmission or electronic media, if the Trustee reasonably believes such instructions to be genuine and to have been signed, sent or presented by the proper party or parties. The Trustee shall not incur any liability to anyone resulting from actions taken by the Trustee in reliance in good faith on such instructions. The Trustee shall not incur any liability in executing instructions (i) from any attorney-in-fact prior to receipt by it of notice of the revocation of the written authority of the attorney-in-fact or (ii) from any officer of the Grantor or the Beneficiary named in an incumbency certificate delivered hereunder prior to receipt by it of a more current certificate. Each of the Grantor and the Beneficiary acknowledges and agrees that it is fully informed of the protections and risks associated with the various methods of transmitting instructions to the Trustee, and that there may be more secure methods of transmitting instructions than the method selected by the sender. Each of the Grantor and the Beneficiary agrees that the security procedures, if any, to be followed in connection with a transmission of instructions provide to it a commercially reasonable degree of protection in light of its particular needs and circumstances.
(2)    Funds Transfers. With respect to any “funds transfer,” as defined in Article 4-A of the Uniform Commercial Code, the following security procedure will apply: payment instruction of the Grantor or the Beneficiary, as the case may be, is to include the name and (in the case of a facsimile) signature of the Person initiating the funds transfer request. If the name is listed as an Authorized Person on the relevant account, the Trustee will confirm the instructions by telephone call to any Person listed as an Authorized Person on the account, who may be the same Person who initiated the instruction. When calling back, the Trustee will request from the staff member of the Grantor or the Beneficiary, as the case may be, his or her name. If the name is listed in the Trustee’s records as an Authorized Person, the Trustee will confirm the instructions with respect to amount, names and numbers of accounts to be charged or credited and other relevant reference information. Where the Agreement contemplates joint payment instructions from the Grantor and Beneficiary, the Trustee shall call back both the Grantor and Beneficiary. Each of the Grantor and Beneficiary acknowledges that Trustee has offered such Grantor and Beneficiary other security procedures that are more secure and are commercially reasonable for such Grantor and Beneficiary, and that such Grantor and Beneficiary has nonetheless chosen the procedure described in this paragraph. Each of the Grantor and the Beneficiary agrees to be bound by any payment order issued in its name, whether or not authorized that is accepted by the Trustee in accordance with the above procedures. When instructed to credit or pay a party by both name and a unique numeric or alpha-numeric identifier (e.g. ABA number or account number), the Trustee, and any other bank participating in the funds transfer, may rely solely on the unique identifier, even if it identifies a party different than the party named. This applies to beneficiaries as well as any intermediary bank. Each of the Grantor and Beneficiary agrees to be bound by the rules of any funds transfer network used in connection with any payment order accepted by the Trustee hereunder. The Trustee shall not be obliged to make any payment or otherwise to act on any instruction notified to it under this Agreement if it is unable to validate the authenticity of the request by telephoning an Authorized Person who has not executed the relevant request or instruction of the relevant Grantor and Beneficiary. Payment or otherwise to act on any instruction by Authorized Person of the relevant Grantor and Beneficiary will be made by the Trustee within three (3) Business Days after Trustee’s verification of instructions as set forth 

above. A “Business Day” shall mean any day on which banks in the State of New York, the Commonwealth of Massachusetts and the State of Connecticut are open for business.

Notwithstanding any revocation, cancellation or amendment of this authorization, any action taken by the Trustee pursuant to this authorization prior to the Trustee’s actual receipt and acknowledgement of a notice of revocation, cancellation or amendment shall not be affected by such notice.
(h)    The duties and obligations of the Trustee shall only be such as are specifically set forth in this Trust Agreement, as it may from time to time be amended, and no implied duties or obligations shall be read into this Trust Agreement against the Trustee.
(i)    No provision of this Trust Agreement shall require the Trustee to take any action which, in the Trustee’s reasonable judgment, would result in any violation of this Trust Agreement or any provision of law.
(j)    The Trustee may confer with counsel of its own choice in relation to matters arising under this Trust Agreement and shall have full and complete authorization from the other Parties for any action taken or suffered by it under this Trust Agreement or in respect of any transaction contemplated hereby in good faith and in accordance with the advice or opinion of such counsel.
(k)    The Trustee shall not be liable hereunder except for its own negligence, willful misconduct or lack of good faith. Anything in this Agreement to the contrary notwithstanding, in no event shall the Trustee, be liable under or in connection with this Agreement for indirect, special, incidental, punitive or consequential losses or damages of any kind whatsoever, including but not limited to lost profits, whether or not foreseeable, even if the Trustee has been advised of the possibility thereof and regardless of the form of action in which such damages are sought. The Trustee shall not incur any liability for not performing any act or fulfilling any duty, obligation or responsibility hereunder to the extent solely by reason of any occurrence beyond the control of Trustee, including, but not limited to, any act or provision of any present or future law or regulation or governmental authority, any act of God or war or terrorism, accidents, labor disputes, loss or malfunction of utilities or the unavailability of the Federal Reserve Bank wire or telex or other wire or communication facility. Nothing contained in any contract between Trustee and any entity authorized to hold Assets, as defined herein, shall diminish or otherwise alter the liability of Trustee to the Grantor or Beneficiary as set forth and in accordance with the terms herein. The provisions of this paragraph shall not affect the burden of proof under applicable law with respect to the assertions of liability in any claim, action or dispute alleging any breach of or failure to observe such standard of care.
(l)    The Trustee shall not be responsible for the existence, genuineness or value of any of the Assets, for the validity, perfection, priority or enforceability of the liens or any security interest in or with respect to any of the Assets, for the validity of title to the Assets, for insuring the Assets, for the payment of taxes, charges, assessments or liens upon or with respect to the Assets, for any obligations under any agreements or other documents evidencing or related to any of the Assets (other than this Trust Agreement), or for the compliance of the Assets with any laws. The Trustee shall have no responsibility for the recording, filing or registration (or for the rerecording, refiling or reregistration) of any instrument or notice, including any financing or continuation statement or any tax or securities form, at any time in any public office or elsewhere for the purpose of perfecting, maintaining the perfection of or otherwise making effective any lien or any security interest upon, in or with respect to any of the Assets.
(m)    The Trustee shall have no responsibility to determine whether any Commercial Mortgage Loans are negotiable, transferable or assignable, as applicable, and shall have no liability (i) to the extent that the Loan Assignment Documents and other instruments or documents provided to the Trustee are not sufficient to effect the transfer, sale or assignment, as applicable, of any Commercial Mortgage Loan upon the execution and delivery thereof by the Trustee as provided herein or (ii) to the extent that there is a failure in the withdrawal of a Commercial Mortgage Loan specified in a Beneficiary Request for Withdrawal by 

the Beneficiary as a result of the Grantor’s or applicable investment manager’s sale or transfer of such Commercial Mortgage Loan.
(n)    The Grantor and the Beneficiary acknowledge and agree that (i) the Trustee shall have no liability under this Agreement for any action or omission of any of the parties to any Servicing Agreement or any other agreement (related to the Commercial Mortgage Loans or Bank Loans) taken pursuant to such agreements, including with respect to any Commercial Mortgage Loan or Bank Loan at any time during which such Commercial Mortgage Loan is under the care, custody, possession or control of any of the parties to any Servicing Agreement or any other agreement (related to the Commercial Mortgage Loans or Bank Loans) or any of their respective other depositories, subcustodians, other agents or nominees (and none of such other entities or persons shall be considered to be the depositories, subcustodians, agents or nominees of the Trustee), (ii) the performance by the Trustee of any of its obligations under this Agreement may be delayed, limited or otherwise affected by the actions or omissions of any of the parties to any Servicing Agreement or any other agreement (related to the Commercial Mortgage Loans or Bank Loans) or as a result of such Commercial Mortgage Loan or Bank Loan being subject to any Servicing Agreement, and (iii) the Trustee shall have no liability under this Agreement as a result of the Trustee’s failure to perform any of its obligations under this Agreement as a result of the actions or omissions of any of the parties to any Servicing Agreement or any other agreement (related to the Commercial Mortgage Loans or Bank Loans) that cause such failure or as a result of obligations under any Servicing Agreement or any other agreement (related to the Commercial Mortgage Loans or Bank Loans).  In no event will the Trustee be required to perform or assume any duties of any party under any Servicing Agreement.
(o)    The Trustee shall not foreclose on, direct or consent to the foreclosure of, any Underlying Asset or take title to such Underlying Asset by deed-in-lieu of foreclosure or other means except that, in connection with the Grantor, servicer or the Beneficiary taking such action, the Trustee shall execute such documents, in its capacity as Trustee and not in its individual capacity, provided to it and take such other action as may be reasonably required, in accordance with instructions from the Grantor or the Beneficiary provided pursuant to the terms hereof.
(p)    Any notice or correspondence received by the Trustee from any Person in respect of any Commercial Mortgage Loan shall be promptly forwarded to the Grantor and, if such notice did not come to the Trustee from the Beneficiary, to the Beneficiary, pursuant to the notice provisions contained in this Agreement, and, unless the Grantor provides written instructions to the Trustee in accordance with terms of this Agreement, the Trustee shall take no other action with respect to any such notice or correspondence (other than such action explicitly required under this Agreement, including the provision of a Beneficiary Request for Withdrawal under Section 2(a)), and the Trustee shall not be liable for failure to take any action relating thereto.
(q)    The Trustee may deposit any Assets in the Trust Account in a book-entry account maintained at the Federal Reserve Bank of New York or in depositories such as the Depository Trust Company. The Trustee shall have no liability whatsoever for the action or inaction of any depository or for any Losses resulting from the maintenance of such Assets with a depository. Assets may be held in the name of a nominee maintained by the Trustee or by any such depository.  The Trustee shall have no responsibility whatsoever to determine whether any Assets are or continue to be Eligible Investments or for the determination of the value of any Assets.
(r)    The Trustee shall not be required to risk or expend its own funds in performing its obligations under this Agreement.
(s)    Notwithstanding references to the Reinsurance Agreement in this Agreement, it is acknowledged and agreed that the Trustee has no interest in, and no duty, responsibility or obligation with respect to, the Reinsurance Agreement (including without limitation, no duty, responsibility or obligation to monitor the Grantor’s or the Beneficiary’s compliance with the Reinsurance Agreement.
(t)    The Trustee shall set up online access to the Trust Account and shall provide each of the Grantor and the Beneficiary with the appropriate access information.

Section 8.    Representations, Warranties and Covenants of the Trustee.  The Trustee represents, warrants and covenants to the Grantor and Beneficiary that:
(a)    The Trustee is a Qualified United States Financial Institution;
(b)    In the ordinary course of its business, the Trustee maintains securities accounts for others and is acting in that capacity in this Trust Agreement;
(c)    The Trust Account is and at all times shall be maintained at an office of the Trustee in the United States of America;
(d)    The Trustee is not an Affiliate of the Grantor or the Beneficiary.
Section 9.    The Trustee’s Compensation; Expenses.
(a)    The Grantor shall pay the Trustee, as compensation for its services under this Trust Agreement, a fee computed at rates agreed to between the Trustee and the Grantor. The Grantor shall pay or reimburse the Trustee for all of the Trustee’s expenses and disbursements in connection with its duties under this Trust Agreement (including reasonable attorney’s fees and expenses), except any such expense or disbursement as may arise from the Trustee’s negligence, willful misconduct, lack of good faith or failure to administer the Trust Account in accordance with the terms of this Trust Agreement if such failure is the result of the Trustee’s negligence, willful misconduct or lack of good faith.  The Grantor hereby agrees to indemnify the Trustee for, and hold it harmless against, any Losses howsoever arising in connection with  this Trust Agreement or the Trustee’s performance of its obligations in accordance with the provisions of this Trust Agreement including  but not limited to any Losses incurred by the Trustee in connection with its successful defense, in whole or part, of any claim of negligence, willful misconduct or lack of good faith on its part or Losses arising out of or in connection with the status of the Trustee and its nominee as the holder of record of the Assets, provided, however, that the Trustee shall not be indemnified with respect to Losses caused by the Trustee’s own negligence, willful misconduct or lack of good faith. The Grantor hereby acknowledges that the foregoing indemnities and payment and reimbursement obligations shall survive the resignation or discharge of the Trustee or the termination of this  Agreement.
(b)    The Grantor hereby agrees to indemnify the Trustee for, and hold it harmless against, any Losses or Environmental Damages sustained or incurred by or asserted against the Trustee by reason of or as a result of any action or inaction, or arising out of the Trustee’s performance hereunder, including, without limitation, reasonable attorneys’ and accountants’ fees and expenses incurred by the Trustee in a successful defense of claims by the Grantor or the Beneficiary; provided, however, that the Grantor shall not indemnify the Trustee for those Losses or Environmental Damages arising out of the Trustee’s negligence, willful misconduct or lack of good faith. This indemnity shall be a continuing obligation of the Grantor, its successors and assigns, notwithstanding the termination of this Agreement. 
(c)    The Beneficiary hereby agrees to indemnify the Trustee for, and hold it harmless against, any and all Losses which are sustained by the Trustee by reason of or as a result of any action taken or omitted by the Trustee pursuant to the Beneficiary’s written instructions or notices required or permitted to be given to the Trustee by the Beneficiary hereunder. Notwithstanding the foregoing, the Beneficiary shall not indemnify the Trustee for those Losses caused by the Trustee’s negligence, willful misconduct or lack of good faith. This indemnity shall be a continuing obligation of the Beneficiary and its successors and assigns, notwithstanding the termination of this Agreement.
(d)    If the Grantor is required to pay any amounts to the Trustee pursuant to paragraphs 9(a) or 9(b) above for which the Beneficiary is liable under paragraph 9(c), then the Beneficiary shall, upon demand by the Grantor, promptly reimburse the Grantor for all such amounts.  If the Beneficiary is required to pay any amounts to the Trustee pursuant to paragraph 9(c) above for which the Grantor is liable under paragraphs 9(a) or 9(b), then the Grantor shall, upon demand by the Beneficiary, promptly reimburse the Beneficiary for all such amounts.
(e)    No Assets shall be withdrawn from the Trust Account or used in any manner for paying compensation to, or reimbursement or indemnification of, the Trustee; provided, however, that the Grantor 

and Beneficiary hereby grant the Trustee a lien, right of set-off and security interest in the funds in the Income Account for the payment of any claim for compensation, reimbursement or indemnity hereunder.
Section 10.    Resignation or Removal of the Trustee.
(a)    The Trustee may resign at any time upon delivery of a written notice thereof to the Beneficiary and to the Grantor effective not less than 90 days after receipt by the Beneficiary and the Grantor of such notice. The Trustee may be removed by prior written notice executed by both the Grantor and Beneficiary. No such resignation or removal shall become effective until a successor Trustee has been appointed and approved by both the Beneficiary and the Grantor and all Assets in the Trust Account have been duly transferred to the successor Trustee in accordance with paragraph (b) of this Section 10.  In the event of the Trustee’s resignation or removal, it agrees to provide reasonable assistance in transferring the Assets to any successor Trustee, including executing instruments of conveyance and providing necessary information; provided, however, that the Trustee is assured to its satisfaction, that it will be reimbursed by the Grantor for any cost or expense that it may incur by reason of taking or continuing to take any such action.
(b)    Upon receipt by the proper Parties of the Trustee’s notice of resignation or the Grantor’s and Beneficiary’s notice of removal, the Grantor and the Beneficiary shall appoint a successor Trustee. Any successor Trustee shall be a bank that is a member of the Federal Reserve System and a Qualified United States Financial Institution, and shall not be an Affiliate of the Grantor or the Beneficiary. Upon the acceptance of the appointment as Trustee hereunder by a successor Trustee and the transfer to such successor Trustee of all Assets in the Trust Account, the resignation or removal of the Trustee shall become effective. Thereupon, such successor Trustee shall succeed to and become vested with all the rights, powers, privileges and duties of the resigning or removed Trustee, and the resigning or removed Trustee shall be discharged from any future duties and obligations under this Trust Agreement, but the resigning or removed Trustee shall continue after such resignation or removal to be entitled to the benefits of the indemnities provided herein for the Trustee.
Section 11.    Security Interest in the Assets in the Trust Account.
(a)    Security Interest. The Grantor and the Beneficiary intend that the Trustee, in its capacity as Trustee, is and at all times shall be the registered owner of and holder of legal title to the Trust Account and the Assets. However, to the extent that a court of competent jurisdiction should determine that (1) the Trustee is not the owner of the Trust Account and the Assets, (2) the Trust is not valid, or (3) the transfer of the Assets by the Grantor to the Trust Account is not effective or does not otherwise transfer to the Trust all of the Grantor’s right, title and interest to the Assets, then as further provided in this Section 11 and without any intent to vitiate the creation of an effective trust, the Trust Account shall be deemed to be a “securities account” (within the meaning of Section 8-501(a) of the Uniform Commercial Code as in effect in the State of New York (the “NY UCC”)). All Eligible Investments and other Assets (as defined below) delivered to the Trustee shall be credited to the Trust Account and shall be treated as “financial assets” within the meaning of Section 8-102(a)(9) of the NY UCC.
(b)    The Grantor hereby grants and transfers to the Beneficiary, for the purposes set forth herein, a first priority perfected security interest in, and pledges and assigns to the Beneficiary, all of the Grantor’s right, title and interest in, to and under, whether now existing or hereafter acquired or arising, (i) the Trust Account and all cash and other financial assets credited thereto from time to time including, without limitation, the Assets, and all security entitlements arising therefrom, (ii) all investment property, securities, investments, instruments, cash, mortgage notes and all participation interests in mortgage notes, funds, deposit accounts, general intangibles, accounts, receivables, chattel paper, letter-of-credit rights, documents, goods, real property and all other assets (a) held in or credited to the Trust Account, (b) otherwise conveyed to the Trustee by the Grantor pursuant to this Trust Agreement or (c) purporting to be part of the Assets, and (iii) all proceeds, supporting obligations and all security interests, mortgages or other liens securing any of the foregoing (collectively, the “Collateral”), solely to secure the obligations of the Grantor under the Reinsurance Agreement to the Beneficiary and agrees that this Trust Agreement shall constitute a security agreement under all laws, published rules, statutes, regulations, policies and codes and judgments, injunctions, orders, 

decrees, licenses, permits and all other requirements of governmental entities applicable to the Person, place and situation in question. In furtherance of the preceding sentence, the Trustee acknowledges that all Collateral conveyed to the Trustee is held for the benefit of the Beneficiary for purposes of the security interest granted hereunder and that the Beneficiary shall have “control” (as such term is defined in Articles 8 and 9 of the NY UCC) of the Collateral.  All terms used in this Section 11(a) and not otherwise defined shall have the meaning ascribed to such terms in the NY UCC. In addition, the Grantor hereby (i) authorizes the Beneficiary to file any and all UCC financing statements with respect to the Collateral that are reasonably deemed necessary by the Beneficiary in order to perfect such security interest in the Collateral.

The parties understand and agree that the Trustee is a “securities intermediary” within the meaning of Section 8-102(a)(14) of the NY UCC with respect to the Trust Account and all such financial assets held therein, except with respect to any cash so credited, and in respect of any such cash, the Trust Account shall be deemed to be a “deposit account” (as defined in Section 9-102(a)(29) of the NY UCC) to the extent a security interest can be granted and perfected under the NY UCC in the Trust Account as a deposit account, which the Trustee shall maintain acting not as a securities intermediary but as a “bank” (within the meaning of Section 9-102(a)(8) of the NY UCC). The parties agree that New York shall be deemed to be the “securities intermediary’s jurisdiction” for purposes of Section 8-110(e) of the NY UCC. The Grantor may, from time to time, with prior notice to the Beneficiary, establish one or more sub-accounts under the Trust Account, which shall be part of the Trust Account.
(c)    Until receipt by the Trustee from the Beneficiary of a notice (i) stating that an Exclusive Control Event has occurred with respect to the Grantor and (ii) attaching a certification from the Beneficiary of the occurrence of an Exclusive Control Event following, if applicable, a final, valid and binding determination with respect to any Grantor’s challenges to a notification of a “Mandatory Control Level Event” by the Commissioner (the “Notice of Exclusive Control”), the Trustee will comply with notifications it receives directing it to transfer or redeem any Asset in the Trust Account and any other “entitlement order” (as such term is defined in Section 8-102(a)(8) of the NY UCC) originated by the Grantor in accordance with the terms of this Trust Agreement.  The Grantor shall provide notice to the Beneficiary within two (2) Business Days following the occurrence of an Exclusive Control Event, which, if applicable, shall not be until there has been a final, valid and binding determination with respect to any Grantor’s challenges to a notification of a “Mandatory Control Level Event” by the Commissioner.
(d)    In the event the Trustee receives a Notice of Exclusive Control, the Trustee thereafter will (i) immediately cease complying with entitlement orders originated by the Grantor in respect of the Trust Account and any Asset held therein that would otherwise be permitted under Section 2, and (ii) immediately comply with “entitlement orders” originated by the Beneficiary in respect of the Trust Account and any Asset held therein, in each case without further consent of the Grantor. The Beneficiary shall also provide notice to the Grantor of such Notice of Exclusive Control at the same time provided to the Trustee.  
(e)    The Trustee hereby acknowledges the Beneficiary’s security interest in the Collateral granted pursuant to clause (a) above, and will mark its records, by book-entry or otherwise, to indicate the Beneficiary’s security interest in the Collateral and the proceeds thereof. The Trustee has not entered into, and until the termination of this Trust Agreement will not enter into, any agreement with any other Person: (i) which purports to grant any lien or security interest in the Trust Account or any Assets credited thereto, (ii) pursuant to which the Trustee has agreed to comply with entitlement orders of any other Person or otherwise agreed to give “control” over the Trust Account to any other Person or (iii) which purports to limit or condition the obligation of the Trustee to comply with entitlement orders from the Grantor and Beneficiary as set forth in Section 2 hereof. The Trustee hereby waives and releases, for the benefit of the Beneficiary, all liens, encumbrances, claims and rights of setoff the Trustee may have against the Trust Account or any Asset carried in the Trust Account on account of any fees, indebtedness or other obligations owed to the Trustee by the Grantor and agrees that the Trustee will look solely to the Grantor and the Income Account for payment of 

all such fees, indebtedness or other obligations; provided, that the foregoing shall not prohibit the Trustee from exercising any rights of setoff with respect to amounts which are withdrawn from the Trust Account at the Grantor’s direction in accordance with Section 2 hereof and in compliance with Section 9.6 of the Reinsurance Agreement.
(f)    The Beneficiary agrees that all Assets released from the Trust Account to Grantor or its designee in accordance with the terms and conditions of this Agreement shall be free and clear of any lien, encumbrance or security interest granted by the Grantor pursuant to this Agreement.
Section 12.    Commercial Mortgage Loans
(a)    Except with respect to any Commercial Mortgage Loan withdrawn by the Beneficiary in accordance with the terms hereof, the Grantor shall have the sole and exclusive right, power and authority to service, administer, manage, liquidate, deal with, issue or withhold any consents or waivers, amend, modify, extend, or make any other decisions in respect of any Commercial Mortgage Loans in any manner that it shall choose, subject only to any limitations set forth in this Agreement, the applicable Servicing Agreement or in any other related agreement affecting the Commercial Mortgage Loans, as applicable; provided, that the Trustee shall be entitled to receive on behalf of the Grantor all payments made in respect of the Commercial Mortgage Loans (whether from any servicer, borrower or other Person), including principal and interest payments, proceeds and other income arising from or under such Commercial Mortgage Loans (after retention by the related servicer of such servicer’s expenses, required escrows and reserves to the extent contemplated pursuant to the terms of the applicable loan agreement and Servicing Agreement), as applicable, and to retain, use, enjoy the same subject only to the limitations set forth in this Agreement, the applicable Servicing Agreement and in any other related agreement affecting the Commercial Mortgage Loans.  Except with respect to any Commercial Mortgage withdrawn by the Beneficiary in accordance with the terms hereof, the Grantor shall have the sole and exclusive right, power and authority to make decisions and take other actions in respect of any Commercial Mortgage Loans (and any related Underlying Assets) under any servicing agreement, loan document and any other related agreement affecting the Commercial Mortgage Loans or the related Underlying Assets, in each case, as fully and completely as if this Agreement had not been executed and delivered; provided, however, that the sale, transfer or assignment of any such Commercial Mortgage Loan shall only be effectuated by substitution, exchange and withdrawal pursuant to the terms of this Agreement.  The Grantor shall have the exclusive power and authority, acting alone or through sub-servicers, to do any and all things in connection with such servicing, administration, management and liquidation of the Commercial Mortgage Loans which it may deem necessary or desirable to maximize recoveries with respect thereto, subject to the limitations contained in this Agreement and any related agreements.  Without limiting the generality of the foregoing, the Grantor shall continue, and is hereby authorized and empowered hereunder, to prepare and file any and all financing statements, continuation statements and other documents or instruments necessary to maintain the lien on any Underlying Assets.  Notwithstanding anything to the contrary contained in this Agreement, the Trustee shall not date, endorse, record or transfer any Loan Assignment Document except in accordance with the written directions of the Grantor or the applicable investment manager or, upon receipt of a Beneficiary Request for Withdrawal, in accordance with the written direction of the Beneficiary.
(b)    The Trustee (not in its individual capacity but solely as Trustee hereunder), upon receipt of a written request from the Grantor, shall execute and deliver any powers of attorney and other documents provided to it which the Grantor determines, in the exercise of its reasonable judgment, are necessary in order to enable any servicer to carry out its duties under the applicable Servicing Agreement or any other servicing agreement, or to enable the Grantor to take appropriate action in respect of the ownership, assignment, transfer and liquidation of the Commercial Mortgage Loans (and any related Underlying Assets), as applicable, subject to the limitations in this Agreement.  The Trustee acknowledges that the Grantor may (in its sole discretion), from time to time, execute and deliver a limited power of attorney in order to enable a servicer to carry out their duties under the applicable Servicing Agreement relating to any Commercial Mortgage Loan or any related Underlying Assets.  The authority of the Grantor or any servicer shall include 

the power to (i) enforce, modify, amend, renew or extend the Commercial Mortgage Loans or the Underlying Assets, (ii) grant or withhold any consents or waivers under or in respect of the Commercial Mortgage Loans or the Underlying Assets, (iii) file and collect insurance claims, (iv) release any Underlying Asset or any other collateral or any party from any liability on or with respect to any of the Commercial Mortgage Loans, (v) compromise or settle any claims of any kind or character with respect to any of the Commercial Mortgage Loans, subject to any limitations provided herein, (vi) initiate, complete or otherwise take any action with respect to a foreclosure or deed in lieu of foreclosure, on any of the Underlying Assets, (vii) repair, replace, renovate, restore and improve the Underlying Assets, (viii) negotiate and contract to sell and sell any Commercial Mortgage Loan (including through receipt of a discounted pay-off on such Asset), (ix) commence, continue, negotiate, or settle litigation relating to a Commercial Mortgage Loan or the Underlying Assets, (x) make any servicing or other advances, (xi) act as a mortgagee in possession or receiver or in any other capacity with respect to the Underlying Assets, (xii) exercise any and all rights in respect of the Commercial Mortgage Loans and the Underlying Assets, or (xiii) take any action with respect to any security document securing a Commercial Mortgage Loan, effectuate foreclosure or other conversion of the ownership of any Underlying Asset, including the employment of attorneys, the institution of legal proceedings, the acceptance of compromise proposals, the filing of claims for mortgage insurance, the collection of liquidation proceeds, seeking a receiver, appointing a new property manager and any other matter pertaining to a Commercial Mortgage Loan or an Underlying Asset.  When the Grantor, in the exercise of its reasonable business judgment, finds it appropriate, it shall execute and deliver any instruments of satisfaction, cancellation, partial or full release, discharge, transfer and all other comparable instruments, with respect to the related Commercial Mortgage Loan or the Underlying Asset, as applicable, provided that the execution and delivery of such instrument is necessary in order to enable any servicer to carry out its duties under the Servicing Agreements or any related loan document.  Any such action taken by the Grantor shall be subject in all respects to the terms of this Agreement (including, without limitation, Section 4 regarding substitution of Assets in the Trust Account).  The Grantor may exercise all of the powers set forth herein in its own name.  Upon written request of the Grantor, the Trustee shall execute and deliver any documents provided to it and reasonably requested by the Grantor in furtherance of or incidental to any of the foregoing actions.
(c)    The Grantor may retain a professional servicer to service the Commercial Mortgage Loans on its behalf, in furtherance of the Grantor’s exclusive right, power and authority to service, manage and administer the Commercial Mortgage Loans in the Trust Account, upon reasonable advance written notice to but without the approval or consent of the Trustee or the Beneficiary, but subject to the rights in and requirements of the applicable Servicing Agreement, provided that the retention of such servicer shall not relieve the Grantor of any of its obligations and liabilities hereunder.  The Grantor may remove any servicer under any Servicing Agreement pursuant to the terms of the applicable Servicing Agreement or such other servicing agreements and may appoint a successor servicer, without the consent or approval of, but only upon written notice of such removal and appointment to, the Trustee and the Beneficiary.  The Grantor agrees to, and shall use commercially reasonable efforts to cause the servicer to, reasonably cooperate with the Beneficiary to assist with the transfer of servicing responsibilities to the successor servicer appointed by the Beneficiary.  In connection with any withdrawal by Beneficiary, Grantor shall, or shall cause any such servicer to, transfer to the Beneficiary all funds held by Grantor or such servicer with respect to such Commercial Mortgage Loan, including without limitation all collections, reserves and escrows relating to such Commercial Mortgage Loan.
(d)    With the exception of the Loan Assignment Documents to be delivered to the Trustee in accordance with the terms of this Agreement, the servicer shall retain and be charged with maintaining possession of all documentation and files relating to the Commercial Mortgage Loans (the “Servicing File”).  Upon the deposit of any Commercial Mortgage Loan to the Trust Account, (a) the Grantor shall deliver (or cause to be delivered) to the Trustee a letter in the form attached hereto as Exhibit I, executed in blank by an authorized signatory and addressed to the applicable servicer, instructing such servicer to release the Servicing File to the Trustee or to the Beneficiary in accordance with the terms hereof, whenever requested 

by the Trustee (the “Document Release Letter”), and (b) within thirty (30) calendar days of the date of deposit, the Grantor shall provide the servicer’s list of the documents in the Servicing File to the Trustee and the Beneficiary.  The delivery of the Document Release Letter by the Grantor to the Trustee shall constitute a representation and certification by the Grantor to the Trustee and the Beneficiary that such Document Release Letter is sufficient under the terms of the applicable Servicing Agreement to require the servicer to release the Servicing File to the Trustee without the further consent of the Grantor or any other Person.  The Servicing Agreements shall not be amended, modified or supplemented in any way that adversely impacts the ability of the Trustee to obtain the Servicing File without the prior written consent of the Beneficiary.   As promptly as practicable following the date hereof, and in any event within thirty (30) days of the date hereof, the Grantor shall arrange with the servicer to separately designate the Servicing File from other documents held by the servicer for the benefit of the Grantor and provide written notice to the Trustee and the Beneficiary when such access has been arranged.  Such direct access arrangements with the servicer shall not be changed without the consent of the Beneficiary. The Trustee acknowledges that the Beneficiary may instruct the Trustee to withdraw any documents in the Servicing File in accordance with a Beneficiary Request for Withdrawal.
(e)    In order to facilitate the servicing, administration and enforcement of the Commercial Mortgage Loans by or on behalf of the Grantor, and the servicing of the Commercial Mortgage Loans by a servicer, the Grantor (if it is not using a third party servicer) or servicers may temporarily hold collections on such Commercial Mortgage Loans prior to the time they are remitted to the Trustee and may hold physical possession of any related documents or instruments.  Upon written request of the Grantor to the Trustee (with a simultaneous copy to the Beneficiary, provided the Trustee shall not be required to confirm delivery of such copy) pursuant to the terms hereof, the Trustee shall promptly release, deliver or transfer such documents and instruments as may be requested from time to time by the Grantor.  The Trustee and the Grantor hereby acknowledge that the Grantor and the servicers are acting as bailees of the Trustee in holding such monies pursuant to this Agreement (with respect to the Grantor) and the applicable Servicing Agreement, and that the Grantor and the servicers are acting as the Trustee’s bailee in holding any documents or instruments released, delivered or transferred to the Grantor or any servicer pursuant to this Agreement, and any other items constituting a part of the Trust Account which from time to time come into the possession of the Grantor or any servicer; provided, however, the Trustee shall incur no liability whatsoever for any acts of the Grantor and the servicers in their capacity as bailee.
(f)    Each of the Trustee and the Beneficiary hereby acknowledges that the rights and obligations of the Grantor under any Servicing Agreement have not been transferred to or accepted or assumed by the Trustee and are otherwise expressly reserved by and to the Grantor to act on its own behalf and in any manner that it so chooses, without any consent or approval rights on the part of the Trustee or the Beneficiary hereunder, subject to the terms of this Agreement and any related agreement.
(g)    The Grantor hereby acknowledges and agrees that the Trustee shall not have any obligations relating to any future funding commitments in respect of the Assets (including, for the avoidance of doubt, the Commercial Mortgage Loans).
Section 13.    Assets Consisting of Bank Loans.
(a)    The Trustee shall perform the functions set forth in this Section 13 with respect to Assets consisting of Bank Loans and the cash receipts and proceeds with respect thereto.  For the avoidance of doubt, any Bank Loan deposited into the Trust Account shall be an Asset. The Trustee and agrees to (i) forward to the Grantor and Beneficiary any notices received with respect to the Bank Loans; and (ii) include information pertaining to the Bank Loans in the Custody Transmissions delivered in accordance with this Agreement as if such Bank Loans were Commercial Mortgage Loans.
(b)    For each Bank Loan, the Grantor shall deliver or cause to be delivered to the Trustee, the following documents:

(1)    Original allonge executed in favor of the Trustee, attaching the original Note and any prior Note assignment documents or a participation certificate (if available), as applicable; and
(2) Assignment and Assumption Agreement, if any. 
(c)    The Beneficiary shall be solely responsible for delivering or causing to be delivered to the Trustee as soon as reasonably practicable, each and every document required pursuant to this Agreement for each Bank Loan deposited into the Trust as of the Closing Date (as such document is available to it), including with respect to any Bank Loan constituting a participation interest, a participation certificate (if available) and a copy of the applicable participation agreement, and the Trustee shall not be responsible or liable for taking any action to ensure the Beneficiary has complied with its delivery obligation hereunder, causing any other person to do so or notifying the Beneficiary that any such action has or has not been taken.  The Grantor shall be solely responsible for delivering or causing to be delivered to the Trustee as soon as reasonably practicable, each and every document required pursuant to this Agreement for each Bank Loan deposited into the Trust after the Closing Date (as such document is available to it), including with respect to any Bank Loan constituting a participation interest, a participation certificate (if available) and a copy of the applicable participation agreement, and the Trustee shall not be responsible or liable for taking any action to ensure the Grantor has complied with its delivery obligation hereunder, causing any other person to do so or notifying the Grantor that any such action has or has not been taken.  Any such delivery of a Bank Loan to the Trustee shall be accompanied by a certification, signed by the Grantor or the Beneficiary, as applicable, substantially in in the form of Exhibit K, attached hereto (the “Bank Loan Delivery Certification”).  It is understood and agreed that the Trustee will accept any such documents without any independent verification and shall be entitled to rely on the information provided by the Beneficiary or Grantor, as applicable, regarding each Bank Loan.  With respect account statements issues by the Trustee hereunder, it is understood and agreed that such statements will only reflect an inventory of the documents and files that the Trustee holds hereunder with respect to the Bank Loans.  The Grantor shall be solely responsible for servicing the Bank Loans (or causing the Bank Loans to be serviced) in accordance with the terms and conditions of Section 12 of this Trust Agreement (other than those provisions that apply solely to Commercial Mortgage Loans and not Bank Loans).
(d)    The Trustee shall not have any duty or responsibility to provide the Grantor or the Beneficiary with any credit or other information concerning the business, operations, property, condition (financial or otherwise), prospects or creditworthiness of any borrower of any Bank Loan that may come into the possession of the Trustee or any of its officers, directors, employees, agents, attorneys, attorneys-in-fact or affiliates.  The Grantor further acknowledges and agrees that the Trustee shall not have any obligations relating to any future funding commitments in respect of the Assets (including, for the avoidance of doubt, the Bank Loans).
(e)    In order to facilitate the servicing of any Bank Loan, the Grantor shall also have the right, at any time and from time to time, to withdraw from the Trust Account, subject only to three (3) Business Days’ prior written notice from the Grantor to the Trustee and the Beneficiary such Bank Loans as are specified in such Grantor Servicing Notice, which notice shall include a certification by the Grantor to the Trustee and the Beneficiary that the withdrawal of the Bank Loans is required in connection with (i) the pay-off of any Bank Loan, (ii) the sale of a Bank Loan by the Grantor, (iii) the modification, servicing, restructuring, foreclosure or other liquidation of any Loan or (iv) or as may otherwise be required in connection with servicing/administration of the Loan.  If directed by the Grantor or the applicable Investment Manager in the Grantor Servicing Notice delivered in connection with any withdrawal of any Bank Loan pursuant to this Section 13(e) or otherwise in writing, the Trustee shall (A) in its capacity as Trustee and not in its individual capacity, execute and deliver to the Grantor, the applicable Assignment Documents (and any other transfer documents provided to the Trustee for execution in appropriate form), including the original promissory note, and (B) obtain any consents required to effect such withdrawal, and the Trustee shall reasonably cooperate with the Grantor or the Investment Manager in providing any information or 

documentation necessary to effect such withdrawal (to the extent such information or documentation exists and is in the possession or control of the Trustee).  The Grantor may from time to time designate a third party in a Grantor Servicing Notice to whom the applicable Loan Assignment Documents, including the original promissory Note shall be delivered.  The Grantor Servicing Notice shall include a certification that the proceeds from a transaction of the type described in clause (i) or (ii) of the first sentence of this Section 13(e) will be paid into the Trust Account and that any net cash proceeds from such foreclosure sale or liquidation shall be paid into the Trust Account within three (3) Business Days.  For avoidance of doubt, in the event that the Grantor comes into possession of any cash proceeds, the Grantor acknowledges and agrees (x) that it holds such proceeds in trust for the benefit of the Beneficiary, and (y) that it will transfer such proceeds to the Trust Account as soon as reasonably practical following receipt by the Grantor, except in each case, to the extent that it has previously deposited other Assets into the Trust Account to replace some or all of the value of the withdrawn Bank Loan.  The Trustee shall have no liability or responsibility to verify or determine the occurrence of any event or condition giving rise to the Grantor’s right to withdraw Bank Loans from the Trust Account pursuant to a Grantor Servicing Notice or to monitor the Grantor’s compliance with its obligation to deposit proceeds of any withdrawn Asset, and the Trustee shall be fully protected in relying conclusively on the Grantor Servicing Notice.
Section 14.    Termination of the Trust Account.  This Trust Agreement, except for the indemnities provided herein, may be terminated only after the Grantor and the Beneficiary have given the Trustee joint written notice of their intention to terminate this Trust Agreement and the Trust Account (the “Notice of Intention”). Upon receipt of the Notice of Intention, and without further authorization from the Beneficiary or any other Person, the Trustee shall promptly transfer to the Grantor or the Beneficiary, in accordance with the joint direction of the Grantor and the Beneficiary contained in the Notice of Intention, any and all Assets remaining in the Trust Account, at which time all liability of the Trustee with respect to the Assets so transferred shall cease. This Trust Agreement, except for the indemnities provided herein, and the Trust Account shall terminate when all of the Assets have been so delivered by the Trustee in accordance with the terms of this Trust Agreement.
Section 15.    Definitions.  Except as the context shall otherwise require, the following terms shall have the following meanings for purposes of this Trust Agreement (the definitions to be applicable to both the singular and the plural forms of each term defined if both forms of such term are used in this Trust Agreement):
The term “Affiliate” means any other Person that directly or indirectly controls, is controlled by, or is under common control with, the first Person.
The term “Bank Loan(s)” means any loan (other than a Commercial Mortgage Loan), or any portion thereof, held as an Asset in the Account which, for the avoidance of doubt, may include any participation or syndication interests, provided such interests are (x) obtained in accordance with the applicable loan documents and are subject to a valid participation agreement, if applicable, and (y) are on a pari passu economic basis with the other participants. 
The term “Beneficiary” shall include any successor of the Beneficiary by operation of law including, without limitation, any liquidator, rehabilitator, receiver or conservator.
The term “Binder” means that certain binding commitment agreement, dated as of December 3, 2017, by and among Hopmeadow Acquisition, Inc., the Beneficiary, Hartford Life and Annuity Company, an insurance company organized under the laws of Connecticut, the Grantor and, solely for purposes of Annex A thereto, Hartford Holdings, Inc.
The term “Book Value” means, with respect to any Asset and as of any date of determination, the amount stated for such assets, including accrued interest, on the Grantor’s statutory financial statements determined in accordance with then applicable statutory accounting principles.

The term “Control” (including the related terms “controlled by” and “under common control with”) shall mean the ownership, directly or indirectly, of more than 50% of the voting securities of a corporation.
The term “CML Assignment Document Certification” means a certification substantially in the form of Exhibit J attached hereto.
The term “Commercial Mortgage Loan” means commercial mortgage loans as permitted under the Investment Guidelines and deposited into the Trust Account, which, for the avoidance of doubt, may include any participation interests, provided such interests are (a) obtained in accordance with the applicable loan documents and are subject to a valid participation agreement and (b) are on a pari passu economic basis with the other participants, and may include any commercial mortgage loans evidenced by multiple promissory notes provided such notes are on a pari passu economic basis with other noteholder(s).
The term “Custody Transmission” means, in the case of each Commercial Mortgage Loan or Bank Loan held by the Trustee, a computer-readable transmission containing the following information (and such other data as may be mutually agreed upon in writing by the Grantor and the Trustee), which shall be delivered by the Trustee to the Grantor and the Beneficiary pursuant to Section 1.2(c) of this Agreement and for each Commercial Mortgage Loan shall include: the Mortgage Loan Number, Underlying Asset’s address, Mortgagor’s name, and Mortgagor’s address and for each Bank Loan shall include borrower’s name, and borrower’s address.  The Trustee shall incorporate the outstanding principal amount of the Commercial Mortgage Loan or Bank Loan, as applicable, whether or not such Commercial Mortgage Loan or Bank Loan is specially serviced and all other agreed upon data, to the extent provided to the Trustee, into the Custody Transmission.  Each Custody Transmission delivered shall (i) be cumulative, and shall cover all Commercial Mortgage Loans and Bank Loans for which related Loan Assignment Documents are being held by the Trustee on the date of such Custody Transmission, and (ii) include a then-current listing of all Loan Assignment Documents.  The form of the Custody Transmission shall not be modified without the consent of the Parties, not to be unreasonably conditioned, delayed or withheld.
The term “Eligible Investments” means assets (i) qualifying as admitted assets for life insurance companies under the insurance laws of the State of Connecticut and (ii) complying with the requirements specified by the Investment Guidelines.
The term “Environmental Damages” means any and all claims, Losses, liabilities, damages, fines, penalties, and out-of-pocket costs and expenses (including reasonable attorney’s fees and expenses) of whatever kind or nature, known or unknown, contingent or otherwise, arising out of, or in any way related to (1) the presence, disposal, release or threatened release of any Hazardous Materials which are on, from or affecting soil, water, vegetation, buildings, personal property, persons, animals or otherwise; (2) any personal injury (including wrongful death), property damage (real or personal) or natural resource damage arising out of or related to such Hazardous Materials; (3) any third party claim brought or threatened, settlement reached, government order, or any legal policies or legal requirements having the force of law imposed on the Trustee, which are based upon or in any way related to such Hazardous Materials, including attorney and consultant fees and expenses, investigation and laboratory fees, court costs and litigation expenses; and (4) any violations of Environmental Law.
The term “Environmental Law” means the Comprehensive Environmental Response, Compensation and Liability Act, as amended, the Resource Conservation and Recovery Act of 1976, as amended, and any other applicable federal, state, local, or foreign statute, rule, regulation, order, judgment, directive, decree, permit, license or common law as in effect now, previously, or at any time during the term of this Agreement, and regulating, relating to, or imposing liability or standards of conduct concerning air emissions, water discharges, noise emissions, the release or threatened release or discharge of any Hazardous Material into 

the environment, the use, manufacture, production, refinement, generation, handling, treatment, storage, transport or disposal of any Hazardous Material or otherwise concerning pollution or the protection of the outdoor or indoor environment, or human health or safety in relation to exposure to Hazardous Materials.
The term “Exclusive Control Event” means that there has been a Mandatory Control Level Event with respect to Grantor within the meaning of section 211 CMR 20.06 of the Massachusetts Insurance Regulations.
The term “Governmental Authority” means any foreign or national government, any state or other political subdivision thereof or any self-regulatory authority, and any entity exercising executive, legislative, judicial, regulatory or administrative functions of or pertaining to government.
The term “Hazardous Materials” means, without limit, any pollutant, contaminant or hazardous, toxic, medical, biohazardous, or dangerous waste, substance, constituent or material, defined or regulated as such in, or for the purpose of, any applicable Environmental Law, including any asbestos, any petroleum, oil (including crude oil or any fraction thereof), any radioactive substance, any polychlorinated biphenyls, any toxin, chemical, disease-causing agent or pathogen, and any other substance that gives rise to liability under any applicable Environmental Law.
The term “Loan Assignment Documents” means, (A) with respect to any whole Commercial Mortgage Loans, (i) an original allonge (“Loan Assignment Allonge”) executed in a form sufficient to properly assign and transfer each original promissory note or notes and any prior transfer documents pertaining to such notes (collectively and severally, the “Note”) evidencing such Commercial Mortgage Loan and attaching the original Note, (ii) one or more original assignment agreements executed in favor of the Trustee (solely in its capacity as Trustee and not in its individual capacity), in recordable form and otherwise in a form sufficient to transfer and assign of record each of the mortgages, deeds of trust, deeds to secure debt or similar instruments securing such Commercial Mortgage Loan (the “Security Instruments”) and each of any separate assignments of rents and leases and similar agreements securing such Commercial Mortgage Loan (the “Lease Assignments”), (iii) UCC-3 assignments or similar assignments in form sufficient to assign each of the financing statements (including fixture filings) required in connection with such Commercial Mortgage Loan (the “Financing Statements”), to the Trustee, and (iv) an original executed omnibus assignment in favor of the Trustee, in form and substance sufficient to transfer to Trustee all of the Grantor’s right, title and interest in and to the Commercial Mortgage Loan to the Trustee, including specifically, without limitation, all of the Grantor’s rights and interests in and to all guaranties, environmental indemnification agreements, security agreements, loan agreements and similar agreements; (B) with respect to any Commercial Mortgage Loans constituting participation interests, (i) an original participation certificate executed in a form sufficient to properly assign such participation interest (the “Participation Certificate”) and (ii) a copy of the applicable participation agreement (the “Participation Agreement”) and (C) with respect to all Commercial Mortgage Loans in subclauses (A) and (B) above, a CML Assignment Document Certification delivered by the Grantor to the Trustee in respect of such Commercial Mortgage Loan; (D) with respect to any Bank Loan such documentation as may be required by the applicable loan, credit agreement or security agreement to effect an assignment of all or part of such Bank Loan including (as applicable) (x) an original allonge (also a “Loan Assignment Allonge”) executed in a form sufficient to properly assign and transfer each original promissory note or notes and any prior transfer documents pertaining to such notes (collectively and severally, the “Note”) evidencing such Bank Loan and attaching the original Note, (y) if any UCC filings exist, UCC-3 assignments or similar assignments in form sufficient to assign each of the financing statements (including fixture filings) required in connection with such Bank Loan (also the “Financing Statements”), to the Trustee, and (z) an original executed omnibus assignment in favor of the Trustee, in form and substance sufficient to transfer to Trustee all of the Grantor’s right, title and interest in and to the Bank Loan to the Trustee, including specifically, 

without limitation, all of the Grantor’s rights and interests in and to all guaranties, environmental indemnification agreements, security agreements, loan agreements and similar agreements.
The term “Losses” means, collectively, losses, costs, expenses (including reasonable attorney’s fees and expenses), damages, liabilities and claims.
The term “Monthly Reinsurance Settlement Report” has the meaning set forth on Exhibit C attached hereto.
The term “Net Collections” shall mean all principal collections on an Asset, insurance proceeds and condemnation awards arising from or under such Asset, after retention by the related servicer of required escrows and reserves to the extent contemplated pursuant to the terms of the applicable loan agreement and Servicing Agreement.
The term “Person” shall mean and include an individual, a corporation, a partnership, an association, a trust, an unincorporated organization or a government or political subdivision thereof.
The term “Qualified United States Financial Institution” shall mean an institution that (1) is organized, or in the case of a United States branch or agency office of a foreign banking organization, licensed under the laws of the United States or any state thereof and has been granted authority to operate with fiduciary powers; and (2) is regulated, supervised, and examined by federal or state authorities having regulatory authority over banks and trust companies.
The term “Representative” of a Person shall mean the directors, officers, employees, advisors, agents, consultants, independent accountants, investment bankers, counsel or other representatives of such Person and of such Person’s Affiliates.
The term “Servicing Agreement” means any servicing agreement entered into by the Grantor and any third party with respect to any Commercial Mortgage Loan.
The term “Trailing Document” means those Loan Assignment Documents referenced in subclauses (ii) and (iii) of the definition thereof.
The term “Trustee Loan Assignment Documents” means, with respect to (i) any whole Commercial Mortgage Loan, documents substantially similar to the Loan Assignment Documents pertaining to such whole Commercial Mortgage Loan, (and with respect to the allonge, attaching the original Loan Assignment Allonge and Note), (ii) any participated Commercial Mortgage Loan, an original Participation Certificate, and (iii) in either case, any other required transfer documents,  in each case provided to the Trustee by the Person requesting the release of the applicable Commercial Mortgage Loan, for execution in appropriate form.
The term “Underlying Asset” means any property or other asset serving as collateral for any Commercial Mortgage Loan.
Section 1.Governing Law.  Except for the rights, duties, privileges, immunities and standard of care of the Trustee, which shall be governed by the laws of the State of the New York without regard to its conflict of laws or principles, and as otherwise expressly provided herein, the provisions of and validity and construction of this Trust Agreement and any amendments thereto shall be governed by and construed in accordance with the laws of the State of Connecticut without regard to its conflict of laws provision, and the Trust Account created hereunder shall be administered in accordance with the laws of said state. Each of the Parties hereby submits to the personal jurisdiction 

of and each agrees that all proceedings relating hereto shall be brought in courts located within the City and State of New York.
Section 17.    WAIVER OF JURY TRIAL.  EACH PARTY HERETO HEREBY WAIVES TRIAL BY JURY IN ANY JUDICIAL PROCEEDING INVOLVING, DIRECTLY OR INDIRECTLY, ANY MATTER (WHETHER SOUNDING IN TORT, CONTRACT OR OTHERWISE) IN ANY WAY ARISING OUT OF OR RELATED TO THIS AGREEMENT OR THE RELATIONSHIP ESTABLISHED HEREUNDER. THIS PROVISION IS A MATERIAL INDUCEMENT FOR THE PARTIES TO ENTER INTO THIS AGREEMENT.
Section 18.    Dispute Resolution.  Except as otherwise specifically provided in Section 2(g), or in the event that the Beneficiary delivers a Notice of Exclusive Control to the Trustee, in the event of any dispute between or conflicting claims by or between the Grantor and the Beneficiary and/or any other Person or entity with respect to any Assets, the Trustee shall be entitled, in its sole discretion, to refuse to comply with any and all claims, demands or instructions with respect to such Assets so long as such dispute or conflict shall continue, and the Trustee shall not be or become liable in any way to the Grantor or the Beneficiary for failure or refusal to comply with such conflicting claims, demands or instructions.  The Trustee shall be entitled to refuse to act until, in its sole discretion, either (i) such conflicting or adverse claims or demands shall have been determined by a final order, judgment or decree of a court of competent jurisdiction, which order, judgment or decree is not subject to appeal, or settled by agreement between the conflicting parties as evidenced in a writing satisfactory to the Trustee or (ii) the Trustee shall have received security or an indemnity satisfactory to it sufficient to hold it harmless from and against any and all Losses which it may incur by reason of so acting.  The Trustee may, in addition, elect, in its sole discretion, to commence an interpleader action or seek other judicial relief or orders as it may deem, in its sole discretion, necessary.  The costs and expenses (including reasonable attorneys’ fees and expenses) incurred in connection with such proceeding shall be paid by, and shall be deemed a joint and several obligation of, the Grantor and the Beneficiary.
Section 19.    Successors and Assigns.  This Trust Agreement shall be binding upon and inure to the benefit of the Parties and their respective successors, permitted assigns and legal Representatives. Neither this Trust Agreement, nor any right or obligation hereunder, may be assigned by any Party without the prior written consent of the other Parties hereto. Any assignment in violation of this Section 19 shall be void and shall have no force and effect.
Section 20.    Severability.  If any provision of this Trust Agreement is held to be void or unenforceable, in whole or in part, (i) such holding shall not affect the validity and enforceability of the remainder of this Trust Agreement, including any other provision, paragraph or subparagraph, and (ii) the Parties agree to attempt in good faith to reform such void or unenforceable provision to the extent necessary to render such provision enforceable and to carry out its original intent.
Section 21.    Entire Agreement.  This Trust Agreement constitutes the entire agreement among the Parties with respect to the subject matter hereof, and there are no understandings or agreements, conditions or qualifications relative to this Trust Agreement which are not fully expressed in this Trust Agreement or the Reinsurance Agreement.
Section 22.    Amendments.  This Trust Agreement may be modified or otherwise amended, and the observance of any term of this Trust Agreement may be waived, only if such modification, amendment or waiver is in writing and signed by the Parties.
Section 23.    Notices.  All notices, requests, instructions, directions, demands and other communications under this Trust Agreement must be in writing and will be deemed to have been duly given or made as follows: (a) if sent by registered or certified mail in the United States, return receipt requested, or by reputable overnight air courier, upon receipt; (b) if sent by facsimile transmission, with a copy mailed on the same day in the manner provided in (a) above, when transmitted; or (c) if otherwise actually personally delivered, when delivered, and shall be delivered as follows:

If to the Grantor:
Commonwealth Annuity and Life Insurance Company
20 Guest Street
Brighton, MA 02135
Facsimile:  (508) 460-2401
Attention:  Joel Volcy, Managing Director and Chief Operating Officer

With a copy to:

Commonwealth Annuity and Life Insurance Company
20 Guest Street
Brighton, MA 02135
Facsimile:  (508) 460-2401
Attention:  Samuel Ramos, Esq., General Counsel and Secretary

If to the Beneficiary:
Hartford Life and Annuity Insurance Company
1 Griffin Road North
Windsor, CT 06095
Facsimile: 860-624-0444
Attention: Vice President, Reinsurance

With a copy to:

Hartford Life and Annuity Insurance Company
1 Griffin Road North
Windsor, CT 06095
Facsimile: 860-624-0441
Attention: General Counsel

If to the Trustee:
Bank of New York Mellon
101 Barclay Street
Mailstop: 101-0700
New York, New York 10286
Attention: Insurance Trust Group 
Facsimile: (732) 667-9536

or to such other address or to such other Person as a Party may have last designated by notice to the other Parties.
Section 24.    Headings.  The headings of the Sections have been inserted for convenience of reference only and shall not be deemed to constitute a part of this Trust Agreement.
Section 25.    Counterparts.  This Trust Agreement may be executed in any number of counterparts, each of which when so executed and delivered shall constitute an original, but such counterparts together shall constitute but one and the same Trust Agreement.

Section 26.    USA Patriot Act.  The Grantor and Beneficiary hereby acknowledge that the Trustee is subject to federal laws, including the Customer Identification Program (“CIP”) requirements under the USA PATRIOT Act and its implementing regulations, pursuant to which the Trustee must obtain, verify and record information that allows the Trustee to identify the Grantor and Beneficiary. Accordingly, prior to opening the Trust Account hereunder, the Trustee will ask the Grantor and Beneficiary to provide certain information including, but not limited to, the Grantor’s and Beneficiary’s name, physical address, tax identification number and other information that will help the Trustee to identify and verify the Grantor’s and Beneficiary’s identity such as organizational documents, certificate of good standing, license to do business, or other pertinent identifying information. Each of the Grantor and Beneficiary agrees that the Trustee cannot open the Trust Account hereunder unless and until the Trustee verifies the Grantor’s and Beneficiary’s identity in accordance with the Trustee’s CIP.
Section 27.    Representations.  Each Party represents and warrants to the others that it has full authority to enter into this Trust Agreement upon the terms and conditions hereof and that the individual executing this Trust Agreement on its behalf has the requisite authority to bind such Party to this Trust Agreement, and that the Trust Agreement constitutes a binding obligation of such Party enforceable in accordance with its terms.
Section 28.    Required Disclosure.  The Trustee is authorized to supply any information regarding the Trust Account and related Assets that is required by any law, regulation or rule now or hereafter in effect. Each of the Grantor and the Beneficiary agrees to supply the Trustee with any required information if it is not otherwise reasonably available to the Trustee, except for information that is subject to the obligation of confidentiality and is not required by the Trustee to comply with any applicable law, regulation or rule now or hereafter in effect.
Section 29.    Shareholder Communication Act, Etc.  With respect to securities issued in the United States, the Shareholders Communications Act of 1985 (the “Act”) requires Trustee to disclose to the issuers, upon their request, the name, address and securities position of its Grantor who are (a) the “beneficial owners” (as defined in the Act) of the issuer’s securities, if the beneficial owner does not object to such disclosure, or (b) acting as a “respondent bank” (as defined in the Act) with respect to the securities. (Under the Act, “respondent banks” do not have the option of objecting to such disclosure upon the issuers’ request.) The Act defines a “beneficial owner” as any Person who has, or shares, the power to vote a security (pursuant to an agreement or otherwise), or who directs the voting of a security. The Act defines a “respondent bank” as any bank, association or other entity that exercises fiduciary powers which holds securities on behalf of beneficial owners and deposits such securities for safekeeping with a bank, such as Trustee. Under the Act, Grantor is either the “beneficial owner” or a “respondent bank.”
[ ] Grantor is the “beneficial owner,” as defined in the Act, of the securities to be held by Trustee hereunder.
[ ] Grantor is not the beneficial owner of the securities to be held by Trustee, but is acting as a “respondent bank,” as defined in the Act, with respect to the securities to be held by Trustee hereunder.
IF NO BOX IS CHECKED, TRUSTEE SHALL ASSUME THAT GRANTOR IS THE BENEFICIAL OWNER OF THE SECURITIES.
For beneficial owners of the securities only:
[ ] Grantor objects 
[ ] Grantor does not object to the disclosure of its name, address and securities position to any issuer which requests such information pursuant to the Act for the specific purpose of direct communications between such issuer and Grantor.
IF NO BOX IS CHECKED, TRUSTEE SHALL RELEASE SUCH INFORMATION UNTIL IT RECEIVES A CONTRARY WRITTEN INSTRUCTION FROM GRANTOR.

With respect to securities issued outside of the United States, information shall be released to issuers only if required by law or regulation of the particular country in which the securities are located.
The Grantor agrees to disseminate in a timely manner any proxies or requests for voting instructions, other proxy soliciting material, information statements, and/or annual reports that it receives to any other beneficial owners.
Section 30.    Information Sharing.
The Bank of New York Mellon Corporation is a global financial organization that operates in and provides services and products to clients through its affiliates and subsidiaries located in multiple jurisdictions (the “BNY Mellon Group”). The BNY Mellon Group may (i) centralize in one or more affiliates and subsidiaries certain activities (the “Centralized Functions”), including audit, accounting, administration, risk management, legal, compliance, sales, product communication, relationship management, and the compilation and analysis of information and data regarding Grantor and Beneficiary (which, for purposes of this provision, is the name and business contact information for the Grantor and Beneficiary’s employees and Representatives) and the accounts established pursuant to this Agreement (“Grantor and Beneficiary Information”) and (ii) use third party service providers to store, maintain and process Grantor and Beneficiary’s Information (“Outsourced Functions”). Notwithstanding anything to the contrary contained elsewhere in this Agreement and solely in connection with the Centralized Functions and/or Outsourced Functions, Grantor and Beneficiary consent to the disclosure of, and authorize the BNY Mellon Group to disclose, Grantor and Beneficiary’s Information to (i) other members of the BNY Mellon Group (and their respective officers, directors and employees) and to (ii) third-party service providers (but solely in connection with Outsourced Functions) who are required to maintain the confidentiality of Grantor and Beneficiary’s Information in furtherance of the Trustee’s performance of its obligations hereunder. In addition, the BNY Mellon Group may aggregate Grantor and Beneficiary’s Information with other data collected and/or calculated by the BNY Mellon Group, and the BNY Mellon Group will own all such aggregated data, provided that the BNY Mellon Group shall not distribute the aggregated data in a format that identifies Grantor and Beneficiary Information with Grantor and Beneficiary specifically.  Grantor and Beneficiary also consent to the disclosure of Grantor and Beneficiary’s Information to governmental and regulatory authorities in jurisdictions where the BNY Mellon Group operates and otherwise as required by law.
Section 31.    Successors and Assigns of Trustee.
Any corporation or other company into which the Trustee may be merged or converted or with which it may be consolidated, or any corporation or other company resulting from any merger, conversion or consolidation to which the Trustee shall be a party, or any corporation or other company succeeding to the business of the Trustee shall be the successor of the Trustee hereunder without the execution or filing of any paper with any party hereto or any further act on the part of any of the parties hereto, except where an instrument of transfer or assignment is required by law to effect such succession, anything herein to the contrary notwithstanding.

IN WITNESS WHEREOF, the parties hereto have caused this Trust Agreement to be executed and delivered by their respective officers thereunto duly authorized as of the date first above written.
COMMONWEALTH ANNUITY AND LIFE 
INSURANCE COMPANY, as Grantor

By:    
Name:
Title:

HARTFORD LIFE AND ANNUITY INSURANCE COMPANY, as Beneficiary

By:    
Name:  
Title:

THE BANK OF NEW YORK MELLON, as Trustee

By:     
Name:  
Title:

SCHEDULE I
INITIAL DEPOSIT
[see attached]

	
																			
	CUSIP   
	Position Description
	Legal Entity
	Portfolio
	

UniqueID
	Face Val USD   
	Par/Shares USD
	Book Value (NAIC   Statement Value) USD
	Market Value 
USD
	WAL
	

Sector
	Subsector
	Effective Rating
	Effective Rating2

	78413MAG3
	SFAVE_15-5AVE     XA 144A
	Hartford Life and Annuity Insurance Company
	PA2
	PA278413MAG3
	63,986,000
	

	63,986,000
	

	4,008,202
	

	3,563,892
	

	17.51
	

	 CMBS
	 CMBS IO
	 AAA
	 AAA

	61766RBA3
	MSBAM_16-C31    XA
	Hartford Life and Annuity Insurance Company
	PA2
	PA261766RBA3
	16,500,000
	

	16,485,597
	

	1,631,440
	

	1,601,493
	

	8.31
	

	 CMBS
	 CMBS IO
	 Aaa
	 AAA

	032511BB2
	ANADARKO PETROLEUM CORPORATION
	Hartford Life and Annuity Insurance Company
	PA2
	PA2032511BB2
	5,350,000
	

	5,350,000
	

	2,169,499
	

	2,163,069
	

	19.78
	

	 Corporates
	 Industrial
	 BBB
	 BBB

	358266CJ1
	FRESNO CNTY CA TXBL PENS 04A FGIC
	Hartford Life and Annuity Insurance Company
	PA2
	PA2358266CJ1
	28,023,300
	

	28,023,300
	

	12,372,469
	

	13,755,237
	

	14.63
	

	 Corporates
	 Tax Muni
	 A
	 A

	736679LD1
	PORTLAND OR TXBL PENSION CAB MBIA
	Hartford Life and Annuity Insurance Company
	PA2
	PA2736679LD1
	15,070,950
	

	15,070,950
	

	8,422,085
	

	9,896,189
	

	10.42
	

	 Corporates
	 Tax Muni
	 Aa1
	 AA

	358266CB8
	FRESNO CNTY CA TXBL PENS 04A FGIC
	Hartford Life and Annuity Insurance Company
	PA2
	PA2358266CB8
	5,350,000
	

	5,350,000
	

	3,509,135
	

	3,907,801
	

	7.63
	

	 Corporates
	 Tax Muni
	 A
	 A

	20030NBU4
	COMCAST CORPORATION
	Hartford Life and Annuity Insurance Company
	PA2
	PA220030NBU4
	3,049,500
	

	3,049,500
	

	2,657,363
	

	2,663,165
	

	29.54
	

	 Corporates
	 Industrial
	 A-
	 A

	60636AMS9
	MISSOURI ST HEALTH & EDL FACS
	Hartford Life and Annuity Insurance Company
	PA2
	PA260636AMS9
	1,926,000
	

	1,926,000
	

	1,926,000
	

	1,610,425
	

	34.71
	

	 Corporates
	 Tax Muni
	 Aaa
	 AAA

	92343VDC5
	VERIZON COMMUNICATIONS INC
	Hartford Life and Annuity Insurance Company
	PA2
	PA292343VDC5
	4,161,230
	

	4,161,230
	

	4,159,040
	

	3,766,005
	

	29.63
	

	 Corporates
	 Industrial
	 BBB+
	 BBB

	912810RS9
	TREASURY BOND (2OLD)
	Hartford Life and Annuity Insurance Company
	PA2
	PA2912810RS9
	570,000
	

	570,000
	

	555,568
	

	506,543
	

	29.38
	

	 TSY
	 Govt
	 Govt
	 Govt

	167486PG8
	CHICAGO ILL TAXBL REF
	Hartford Life and Annuity Insurance Company
	PA2
	PA2167486PG8
	7,918,000
	

	7,918,000
	

	7,005,217
	

	6,419,281
	

	24.12
	

	 Corporates
	 Tax Muni
	 BBB-
	 BBB

	9128282A7
	TREASURY NOTE (OLD)
	Hartford Life and Annuity Insurance Company
	PA2
	PA29128282A7
	10,770,000
	

	10,770,000
	

	10,529,564
	

	9,905,460
	

	9.63
	

	 TSY
	 Govt
	 Govt
	 Govt

	74913EAJ9
	QWEST CAPITAL FUNDING
	Hartford Life and Annuity Insurance Company
	PA2
	PA274913EAJ9
	4,125,000
	

	4,125,000
	

	3,889,006
	

	3,753,750
	

	14.13
	

	 BIG Corporates
	 HY Industrials
	 BB
	 BIG

	912828U24
	TREASURY NOTE (OTR)
	Hartford Life and Annuity Insurance Company
	PA2
	PA2912828U24
	4,830,000
	

	4,830,000
	

	4,655,764
	

	4,647,175
	

	9.88
	

	 TSY
	 TSY
	 Govt
	 govt

	BHM1J8QC4
	ELECTRIC TRANSMISSION TEXAS LLC Prvt
	Hartford Life and Annuity Insurance Company
	PA2
	PA2BHM1J8QC4
	10,000,000
	

	10,000,000
	

	10,000,000
	

	9,324,800
	

	19.21
	

	 Corporates
	 Utilities
	 Baa1
	 BBB

	92343VCV4
	VERIZON COMMUNICATIONS INC
	Hartford Life and Annuity Insurance Company
	PA2
	PA292343VCV4
	12,572,500
	

	12,572,500
	

	11,974,956
	

	12,033,467
	

	19.04
	

	 Corporates
	 Industrial
	 BBB+
	 BBB

	12623SAS9
	COMM_12-CR5      D 144A
	Hartford Life and Annuity Insurance Company
	PA2
	PA212623SAS9
	3,745,000
	

	3,745,000
	

	3,886,418
	

	3,521,551
	

	5.94
	

	 CMBS
	 CMBS
	 Baa1
	 BBB

	BHM15X6S1
	HTFD CONCORDVIL   PN Prvt
	Hartford Life and Annuity Insurance Company
	PA2
	PA2BHM15X6S1
	40,000,000
	

	40,000,000
	

	40,000,000
	

	36,676,184
	

	14.62
	

	 CML
	 CML
	 A2
	 A

	BHM1KXMB3
	VIRGINIA INTERNATIONAL GATEWAY INC Prvt
	Hartford Life and Annuity Insurance Company
	PA2
	PA2BHM1KXMB3
	43,759,615
	

	43,759,615
	

	43,759,615
	

	42,221,903
	

	22.96
	

	 Corporates
	 Industrial
	 A-
	 A

	BHM0MZCQ6
	DESERT SUNLIGHT FUNDING I-GTD Prvt
	Hartford Life and Annuity Insurance Company
	PA2
	PA2BHM0MZCQ6
	17,142,857
	

	16,139,792
	

	16,139,792
	

	15,703,372
	

	13.19
	

	 Agency
	 FDIC Guaranteed
	 AAA
	 AAA

	540424AR9
	LOEWS CORPORATION
	Hartford Life and Annuity Insurance Company
	PA2
	PA2540424AR9
	2,800,725
	

	2,800,725
	

	2,689,248
	

	2,686,982
	

	26.38
	

	 Corporates
	 Financial
	 A
	 A

	552081AM3
	LYONDELLBASELL INDUSTRIES NV
	Hartford Life and Annuity Insurance Company
	PA2
	PA2552081AM3
	8,244,350
	

	8,244,350
	

	8,112,354
	

	7,661,013
	

	38.16
	

	 Corporates
	 Industrial
	 BBB
	 BBB

	912810RU4
	TREASURY BOND (OTR)
	Hartford Life and Annuity Insurance Company
	PA2
	PA2912810RU4
	2,180,000
	

	2,180,000
	

	2,079,926
	

	2,104,722
	

	29.88
	

	 TSY
	 Govt
	 Govt
	 Govt

	BHM0M67U7
	HTFD RREEF IND    PN Prvt
	Hartford Life and Annuity Insurance Company
	PA2
	PA2BHM0M67U7
	3,804,742
	

	3,804,742
	

	3,804,742
	

	3,667,148
	

	8.42
	

	 CML
	 CML
	 A2
	 A

	718172AT6
	PHILIP MORRIS INTERNATIONAL INC
	Hartford Life and Annuity Insurance Company
	PA2
	PA2718172AT6
	10,000,000
	

	10,000,000
	

	9,487,588
	

	9,784,650
	

	5.64
	

	 Corporates
	 Industrials
	 A
	 A

	912828U57
	TREASURY NOTE (OLD)
	Hartford Life and Annuity Insurance Company
	PA2
	PA2912828U57
	560,000
	

	560,000
	

	557,336
	

	556,281
	

	6.92
	

	 TSY
	 TSY
	 Govt
	 govt

	3132WEB43
	MBS
	Hartford Life and Annuity Insurance Company
	PA2
	PA23132WEB43
	846,000
	

	806,834
	

	828,583
	

	802,005
	

	9.47
	

	 MBS
	 MBS
	 Govt
	 govt

	3132WED25
	MBS
	Hartford Life and Annuity Insurance Company
	PA2
	PA23132WED25
	1,590,000
	

	1,545,382
	

	1,590,182
	

	1,536,127
	

	9.47
	

	 MBS
	 MBS
	 Govt
	 govt

	3138WG5Q3
	MBS
	Hartford Life and Annuity Insurance Company
	PA2
	PA23138WG5Q3
	3,544,000
	

	3,451,412
	

	3,555,573
	

	3,432,478
	

	9.43
	

	 MBS
	 MBS
	 Govt
	 govt

	3138WHFN7
	MBS
	Hartford Life and Annuity Insurance Company
	PA2
	PA23138WHFN7
	591,000
	

	579,307
	

	595,623
	

	576,129
	

	9.43
	

	 MBS
	 MBS
	 Govt
	 govt

	3140F5QW6
	MBS
	Hartford Life and Annuity Insurance Company
	PA2
	PA23140F5QW6
	824,000
	

	796,465
	

	818,995
	

	792,096
	

	9.43
	

	 MBS
	 MBS
	 Govt
	 govt

	3138WHFR8
	MBS
	Hartford Life and Annuity Insurance Company
	PA2
	PA23138WHFR8
	2,029,000
	

	1,941,001
	

	1,994,959
	

	1,930,353
	

	9.43
	

	 MBS
	 MBS
	 Govt
	 govt

	3140F5MJ9
	MBS
	Hartford Life and Annuity Insurance Company
	PA2
	PA23140F5MJ9
	126,000
	

	118,161
	

	121,542
	

	117,513
	

	9.43
	

	 MBS
	 MBS
	 Govt
	 govt

	
																			
	95000HBH4
	WFCM_16-LC24    AS
	Hartford Life and Annuity Insurance Company
	PA2
	PA295000HBH4
	4,000,000
	

	4,000,000
	

	4,117,036
	

	3,866,676
	

	9.63
	

	 CMBS
	 CMBS
	 Aa2
	 AA

	969457BU3
	WILLIAMS COS INC
	Hartford Life and Annuity Insurance Company
	PA2
	PA2969457BU3
	2,822,000
	

	2,822,000
	

	2,690,555
	

	2,723,230
	

	6.04
	

	 BIG Corporates
	 HY Industrials
	 BB
	 BIG

	912828U65
	TREASURY NOTE (OLD)
	Hartford Life and Annuity Insurance Company
	PA2
	PA2912828U65
	560,000
	

	560,000
	

	555,901
	

	555,822
	

	4.92
	

	 TSY
	 TSY
	 Govt
	 govt

	00287YAQ2
	ABBVIE INC
	Hartford Life and Annuity Insurance Company
	PA2
	PA200287YAQ2
	5,000,000
	

	5,000,000
	

	5,209,899
	

	4,952,440
	

	8.37
	

	 Corporates
	 Industrials
	 Baa2
	 BBB

	74456QBQ8
	PUBLIC SERVICE ELECTRIC AND GAS CO MTN
	Hartford Life and Annuity Insurance Company
	PA2
	PA274456QBQ8
	2,675,000
	

	2,675,000
	

	2,666,911
	

	2,596,039
	

	29.17
	

	 Corporates
	 Utilities
	 A+
	 A

	05565QCD8
	BP CAPITAL MARKETS PLC
	Hartford Life and Annuity Insurance Company
	PA2
	PA205565QCD8
	2,273,750
	

	2,273,750
	

	2,138,032
	

	2,232,250
	

	6.36
	

	 Corporates
	 Industrial
	 A-
	 A

	92343VCM4
	VERIZON COMMUNICATIONS INC
	Hartford Life and Annuity Insurance Company
	PA2
	PA292343VCM4
	5,940,105
	

	5,940,105
	

	4,730,702
	

	5,908,991
	

	37.64
	

	 Corporates
	 Industrial
	 BBB+
	 BBB

	BHM1ANBZ5
	VERIZON CORPORATE SERVICES GROUP I Prvt
	Hartford Life and Annuity Insurance Company
	PA2
	PA2BHM1ANBZ5
	7,000,000
	

	6,769,181
	

	6,769,181
	

	6,733,913
	

	11.46
	

	 Corporates
	 Industrial
	 Baa1
	 BBB

	12629NAJ4
	COMM_15-DC1      B
	Hartford Life and Annuity Insurance Company
	PA2
	PA212629NAJ4
	6,420,000
	

	6,420,000
	

	6,582,035
	

	6,380,562
	

	8.03
	

	 CMBS
	 CMBS
	 AA-
	 AA

	BHM13T3U0
	HTFD ELEMENT AT   PN Prvt
	Hartford Life and Annuity Insurance Company
	PA2
	PA2BHM13T3U0
	31,000,000
	

	29,874,605
	

	29,874,605
	

	28,724,780
	

	10.96
	

	 CML
	 CML
	 A2
	 A

	260543CG6
	DOW CHEMICAL COMPANY (THE)
	Hartford Life and Annuity Insurance Company
	PA2
	PA2260543CG6
	7,735,565
	

	7,735,565
	

	7,182,473
	

	7,509,068
	

	25.88
	

	 Corporates
	 Industrial
	 BBB
	 BBB

	BHM0NS7F1
	KONINKLIJKE VOPAK NV       Prvt
	Hartford Life and Annuity Insurance Company
	PA2
	PA2BHM0NS7F1
	5,000,000
	

	5,000,000
	

	5,000,000
	

	4,989,900
	

	6.47
	

	 Corporates
	 Industrials
	 Baa2
	 BBB

	76112B2D1
	RAMP_06-RS2    A3A
	Hartford Life and Annuity Insurance Company
	PA2
	PA276112B2D1
	2,585,000
	

	2,322,506
	

	2,079,268
	

	2,136,102
	

	4.71
	

	 ABS
	 Home Equity
	 B
	 BIG

	BHM1D4FT4
	UNITED ENERGY DISTRIBUTION PTY LTD Prvt
	Hartford Life and Annuity Insurance Company
	PA2
	PA2BHM1D4FT4
	10,000,000
	

	10,000,000
	

	10,000,000
	

	9,693,200
	

	5.79
	

	 Corporates
	 Utilities
	 Baa2
	 BBB

	200474BF0
	COMM_15-LC19     B
	Hartford Life and Annuity Insurance Company
	PA2
	PA2200474BF0
	3,905,500
	

	3,905,500
	

	4,003,484
	

	3,972,573
	

	8.03
	

	 CMBS
	 CMBS
	 AA-
	 AA

	912828T59
	TREASURY NOTE (2OLD)
	Hartford Life and Annuity Insurance Company
	PA2
	PA2912828T59
	310,000
	

	310,000
	

	310,034
	

	306,682
	

	2.79
	

	 TSY
	 Govt
	 Govt
	 Govt

	74840LAA0
	QUICKEN LOANS INC 144A
	Hartford Life and Annuity Insurance Company
	PA2
	PA274840LAA0
	2,066,000
	

	2,066,000
	

	2,007,581
	

	2,009,185
	

	8.34
	

	 BIG Corporates
	 HY Financials
	 Ba2
	 BIG

	94989CAZ4
	WFCM_15-C26     AS
	Hartford Life and Annuity Insurance Company
	PA2
	PA294989CAZ4
	4,280,000
	

	4,280,000
	

	4,387,373
	

	4,324,542
	

	8.04
	

	 CMBS
	 CMBS
	 Aa1
	 AA

	BHM0LCEA1
	BASIN ELECTRIC POWER COOPERATIVE I Prvt
	Hartford Life and Annuity Insurance Company
	PA2
	PA2BHM0LCEA1
	17,000,000
	

	15,587,640
	

	15,587,640
	

	15,826,131
	

	8.48
	

	 Corporates
	 Utilities
	 A
	 A

	94989DBB4
	WFCM_15-C27      B
	Hartford Life and Annuity Insurance Company
	PA2
	PA294989DBB4
	4,516,470
	

	4,516,470
	

	4,645,877
	

	4,643,776
	

	8.21
	

	 CMBS
	 CMBS
	 A1
	 A

	718549AE8
	PHILLIPS 66 PARTNERS LP
	Hartford Life and Annuity Insurance Company
	PA2
	PA2718549AE8
	6,448,890
	

	6,448,890
	

	6,404,084
	

	6,192,785
	

	29.75
	

	 Corporates
	 Industrial
	 Baa3
	 BBB

	12665UAA2
	CVS PASSTHROUGH TRUST      144A
	Hartford Life and Annuity Insurance Company
	PA2
	PA212665UAA2
	6,420,000
	

	5,899,219
	

	5,899,219
	

	6,208,839
	

	10.92
	

	 Corporates
	 Industrial
	 Baa1
	 BBB

	12592XBF2
	COMM_15-CR22.     AM
	Hartford Life and Annuity Insurance Company
	PA2
	PA212592XBF2
	6,420,000
	

	6,420,000
	

	6,582,439
	

	6,453,750
	

	8.13
	

	 CMBS
	 CMBS
	 AAA
	 AAA

	30295MAS1
	FREMF_16-K723      B
	Hartford Life and Annuity Insurance Company
	PA2
	PA230295MAS1
	2,400,000
	

	2,400,000
	

	2,247,616
	

	2,212,584
	

	6.78
	

	 CMBS
	 CMBS
	 BBB
	 BBB

	913017BT5
	UNITED TECHNOLOGIES CORP
	Hartford Life and Annuity Insurance Company
	PA2
	PA2913017BT5
	16,050,000
	

	16,050,000
	

	18,407,371
	

	17,179,984
	

	25.42
	

	 Corporates
	 Industrial
	 A-
	 A

	81745DAE1
	SEMT_13-9       A1 144A
	Hartford Life and Annuity Insurance Company
	PA2
	PA281745DAE1
	3,650,000
	

	2,326,394
	

	2,261,916
	

	2,317,488
	

	7.97
	

	 MBS
	 CMO Non-Agency
	 AAA
	 AAA

	BHM0RMP52
	HTFD LIT IX WHL   PN Prvt
	Hartford Life and Annuity Insurance Company
	PA2
	PA2BHM0RMP52
	25,000,000
	

	24,294,351
	

	24,294,351
	

	24,078,959
	

	3.37
	

	 CML
	 CML
	 A1
	 A

	1248EPBM4
	CCO HOLDINGS LLC/CCO HOLDINGS CAPI 144A
	Hartford Life and Annuity Insurance Company
	PA2
	PA21248EPBM4
	4,781,000
	

	4,781,000
	

	4,811,732
	

	4,948,335
	

	7.13
	

	 BIG Corporates
	 HY Industrials
	 BB+
	 BIG

	50077LAM8
	KRAFT HEINZ FOODS CO
	Hartford Life and Annuity Insurance Company
	PA2
	PA250077LAM8
	9,704,900
	

	9,704,900
	

	9,778,547
	

	10,159,206
	

	28.04
	

	 Corporates
	 Industrial
	 BBB-
	 BBB

	12629NAH8
	COMM_15-DC1     AM
	Hartford Life and Annuity Insurance Company
	PA2
	PA212629NAH8
	6,955,000
	

	6,955,000
	

	7,130,411
	

	6,961,572
	

	8.03
	

	 CMBS
	 CMBS
	 AAA
	 AAA

	25470XAE5
	DISH DBS CORP
	Hartford Life and Annuity Insurance Company
	PA2
	PA225470XAE5
	4,456,000
	

	4,456,000
	

	4,655,854
	

	4,834,760
	

	4.42
	

	 BIG Corporates
	 HY Industrials
	 Ba3
	 BIG

	BHM0MEM25
	AQUARION WATER CO OF CONNECTICUT Prvt
	Hartford Life and Annuity Insurance Company
	PA2
	PA2BHM0MEM25
	19,000,000
	

	19,000,000
	

	19,000,000
	

	19,456,190
	

	15.63
	

	 Corporates
	 Utilities
	 A3
	 A

	564759QB7
	MANUFACTURERS & TRADERS TRUST CO
	Hartford Life and Annuity Insurance Company
	PA2
	PA2564759QB7
	8,500,000
	

	8,500,000
	

	8,500,000
	

	8,340,625
	

	4.92
	

	 Corporates
	 Financials
	 A-
	 A

	29273RAZ2
	ENERGY TRANSFER PARTNERS LP
	Hartford Life and Annuity Insurance Company
	PA2
	PA229273RAZ2
	2,675,000
	

	2,675,000
	

	2,715,370
	

	2,756,927
	

	26.25
	

	 Corporates
	 Industrial
	 BBB-
	 BBB

	
																			
	591894CB4
	METROPOLITAN EDISON COMPANY 144A
	Hartford Life and Annuity Insurance Company
	PA2
	PA2591894CB4
	2,078,475
	

	2,078,475
	

	2,141,033
	

	2,092,501
	

	8.29
	

	 Corporates
	 Utilities
	 BBB-
	 BBB

	BHM0LDWD3
	PATTERSON COS INC Prvt
	Hartford Life and Annuity Insurance Company
	PA2
	PA2BHM0LDWD3
	15,000,000
	

	15,000,000
	

	15,000,000
	

	15,172,200
	

	1.94
	

	 Corporates
	 Industrials
	 Baa1
	 BBB

	681919AZ9
	OMNICOM GROUP INC
	Hartford Life and Annuity Insurance Company
	PA2
	PA2681919AZ9
	1,808,300
	

	1,808,300
	

	1,831,155
	

	1,857,144
	

	5.34
	

	 Corporates
	 Industrials
	 Baa1
	 BBB

	89641UAC5
	TRINITY ACQUISITION PLC
	Hartford Life and Annuity Insurance Company
	PA2
	PA289641UAC5
	5,350,000
	

	5,350,000
	

	5,457,106
	

	5,415,559
	

	8.96
	

	 Corporates
	 Financials
	 BBB
	 BBB

	BHM03GBH0
	NJNGC FIRST MORTGAGE BONDS Prvt
	Hartford Life and Annuity Insurance Company
	PA2
	PA2BHM03GBH0
	10,000,000
	

	10,000,000
	

	10,529,454
	

	10,505,000
	

	1.38
	

	 Corporates
	 Utilities
	 A1
	 A

	BHM0M7933
	ENVESTRA LTD      Prvt
	Hartford Life and Annuity Insurance Company
	PA2
	PA2BHM0M7933
	11,000,000
	

	11,000,000
	

	11,000,000
	

	11,245,410
	

	10.53
	

	 Corporates
	 Utilities
	 Baa2
	 BBB

	BHM0L4WM3
	COMPASS GROUP PLC - SER I  Prvt
	Hartford Life and Annuity Insurance Company
	PA2
	PA2BHM0L4WM3
	10,000,000
	

	10,000,000
	

	10,000,000
	

	10,204,800
	

	1.75
	

	 Corporates
	 Industrials
	 A3
	 A

	BHM0MN8Z8
	HTFD GAEDEKE PO   PN Prvt
	Hartford Life and Annuity Insurance Company
	PA2
	PA2BHM0MN8Z8
	20,000,000
	

	19,945,287
	

	19,945,287
	

	20,023,111
	

	9.62
	

	 CML
	 CML
	 A2
	 A

	BHM0LDGK5
	CURTISS-WRIGHT CORPORATION Prvt
	Hartford Life and Annuity Insurance Company
	PA2
	PA2BHM0LDGK5
	5,000,000
	

	5,000,000
	

	5,057,138
	

	5,133,050
	

	4.92
	

	 Corporates
	 Industrials
	 Baa2
	 BBB

	32027NVV0
	FFML_05-FF9     A4
	Hartford Life and Annuity Insurance Company
	PA2
	PA232027NVV0
	3,500,000
	

	2,102,726
	

	1,968,619
	

	1,987,780
	

	2.86
	

	 ABS
	 Home Equity
	 B-
	 BIG

	12637UBA6
	CSAIL_16-C7     AS
	Hartford Life and Annuity Insurance Company
	PA2
	PA212637UBA6
	2,400,000
	

	2,400,000
	

	2,471,330
	

	2,405,803
	

	9.79
	

	 CMBS
	 CMBS
	 Aa3
	 AA

	55608XAB3
	MACQUARIE BANK LTD         144A
	Hartford Life and Annuity Insurance Company
	PA2
	PA255608XAB3
	1,712,000
	

	1,712,000
	

	1,708,019
	

	1,732,529
	

	8.44
	

	 Corporates
	 Financial
	 BBB-
	 BBB

	BHM15T4C7
	HTFD ENCLAVE AT   PN Prvt
	Hartford Life and Annuity Insurance Company
	PA2
	PA2BHM15T4C7
	30,000,000
	

	30,000,000
	

	30,000,000
	

	27,222,510
	

	18.14
	

	 CML
	 CML
	 A2
	 A

	14149YBD9
	CARDINAL HEALTH INC
	Hartford Life and Annuity Insurance Company
	PA2
	PA214149YBD9
	6,540,375
	

	6,540,375
	

	6,947,414
	

	6,901,253
	

	28.21
	

	 Corporates
	 Industrial
	 BBB+
	 BBB

	209111FK4
	CONSOLIDATED EDISON COMPANY OF NEW
	Hartford Life and Annuity Insurance Company
	PA2
	PA2209111FK4
	1,765,500
	

	1,765,500
	

	1,750,141
	

	1,763,074
	

	39.92
	

	 Corporates
	 Utilities
	 A-
	 A

	32008DAA4
	FIRST DATA CORPORATION     144A
	Hartford Life and Annuity Insurance Company
	PA2
	PA232008DAA4
	2,534,000
	

	2,534,000
	

	2,551,515
	

	2,547,481
	

	4.04
	

	 BIG Corporates
	 HY Industrials
	 BB
	 BIG

	80282KAE6
	SANTANDER HOLDINGS USA INC
	Hartford Life and Annuity Insurance Company
	PA2
	PA280282KAE6
	1,899,250
	

	1,899,250
	

	1,898,581
	

	1,887,372
	

	8.55
	

	 Corporates
	 Financials
	 Baa3
	 BBB

	46625YJM6
	JPMCC_05-CB11      C
	Hartford Life and Annuity Insurance Company
	PA2
	PA246625YJM6
	5,354,815
	

	5,354,815
	

	5,328,255
	

	5,527,219
	

	0.99
	

	 CMBS
	 CMBS
	 AA
	 AA

	882484AA6
	TEXAS HEALTH RESOURCES
	Hartford Life and Annuity Insurance Company
	PA2
	PA2882484AA6
	6,946,975
	

	6,946,975
	

	6,946,975
	

	6,945,565
	

	37.88
	

	 Corporates
	 Tax Muni
	 Aa2
	 AA

	12626PAJ2
	CRH AMERICA INC.
	Hartford Life and Annuity Insurance Company
	PA2
	PA212626PAJ2
	5,000,000
	

	5,000,000
	

	5,185,427
	

	5,469,325
	

	1.54
	

	 Corporates
	 Industrials
	 BBB
	 BBB

	BHM0L66Z8
	HTFD GRI-REGENC   PN Prvt
	Hartford Life and Annuity Insurance Company
	PA2
	PA2BHM0L66Z8
	31,500,000
	

	29,568,381
	

	29,568,381
	

	30,053,838
	

	5.03
	

	 CML
	 CML
	 A1
	 A

	BHM04KJQ2
	MDU RESOURCES GROUP INC SNR NOTE Prvt
	Hartford Life and Annuity Insurance Company
	PA2
	PA2BHM04KJQ2
	5,000,000
	

	5,000,000
	

	5,301,788
	

	5,323,800
	

	1.71
	

	 Corporates
	 Utilities
	 A3
	 A

	BHM0L6753
	HTFD GRI-REGENC   PN Prvt
	Hartford Life and Annuity Insurance Company
	PA2
	PA2BHM0L6753
	22,500,000
	

	21,120,272
	

	21,120,272
	

	21,680,353
	

	5.03
	

	 CML
	 CML
	 A1
	 A

	BHM04XRH5
	FOOTBALL TRUST IV Prvt
	Hartford Life and Annuity Insurance Company
	PA2
	PA2BHM04XRH5
	5,000,000
	

	5,000,000
	

	5,340,415
	

	5,368,700
	

	1.88
	

	 Corporates
	 Industrials
	 A
	 A

	BHM0KTWD9
	HTFD AQUATERA A   PN Prvt
	Hartford Life and Annuity Insurance Company
	PA2
	PA2BHM0KTWD9
	36,000,000
	

	34,672,137
	

	34,672,137
	

	35,784,451
	

	6.28
	

	 CML
	 CML
	 A1
	 A

	66989HAK4
	NOVARTIS CAPITAL CORP
	Hartford Life and Annuity Insurance Company
	PA2
	PA266989HAK4
	3,282,225
	

	3,282,225
	

	3,585,317
	

	3,312,376
	

	28.39
	

	 Corporates
	 Industrial
	 AA-
	 AA

	212015AH4
	CONTINENTAL RESOURCES INC
	Hartford Life and Annuity Insurance Company
	PA2
	PA2212015AH4
	5,397,000
	

	5,397,000
	

	5,192,647
	

	5,447,678
	

	3.21
	

	 BIG Corporates
	 HY Industrials
	 Ba3
	 BIG

	BHM0JB0A1
	HTFD AMB INDUST   PN Prvt
	Hartford Life and Annuity Insurance Company
	PA2
	PA2BHM0JB0A1
	10,000,000
	

	9,523,426
	

	9,523,426
	

	9,834,533
	

	3.92
	

	 CML
	 CML
	 Aa3
	 AA

	96950FAN4
	WILLIAMS PARTNERS LP
	Hartford Life and Annuity Insurance Company
	PA2
	PA296950FAN4
	5,671,000
	

	5,671,000
	

	5,373,929
	

	5,495,999
	

	27.18
	

	 Corporates
	 Industrial
	 BBB-
	 BBB

	61763MAF7
	MSBAM_14-C16    A5
	Hartford Life and Annuity Insurance Company
	PA2
	PA261763MAF7
	3,100,000
	

	3,100,000
	

	3,171,787
	

	3,262,338
	

	7.27
	

	 CMBS
	 CMBS
	 Aaa
	 AAA

	36253GAK8
	GSMS_14-GC24     B
	Hartford Life and Annuity Insurance Company
	PA2
	PA236253GAK8
	4,012,500
	

	4,012,500
	

	4,110,094
	

	4,218,682
	

	7.69
	

	 CMBS
	 CMBS
	 Aa3
	 AA

	125581GQ5
	CIT GROUP INC
	Hartford Life and Annuity Insurance Company
	PA2
	PA2125581GQ5
	2,669,000
	

	2,669,000
	

	2,693,475
	

	2,782,433
	

	5.63
	

	 BIG Corporates
	 HY Financials
	 BB+
	 BIG

	06053FAA7
	BANK OF AMERICA CORP
	Hartford Life and Annuity Insurance Company
	PA2
	PA206053FAA7
	2,940,000
	

	2,940,000
	

	2,938,331
	

	3,071,124
	

	6.57
	

	 Corporates
	 Financials
	 BBB+
	 BBB

	BHM0JEJL1
	HTFD REGENCY PO   PN Prvt
	Hartford Life and Annuity Insurance Company
	PA2
	PA2BHM0JEJL1
	8,800,000
	

	8,131,983
	

	8,131,983
	

	8,455,862
	

	4.13
	

	 CML
	 CML
	 A1
	 A

	
																			
	BHM0JAX25
	VECTOR LTD        Prvt
	Hartford Life and Annuity Insurance Company
	PA2
	PA2BHM0JAX25
	10,000,000
	

	10,000,000
	

	10,000,000
	

	10,239,000
	

	5.97
	

	 Corporates
	 Utilities
	 BBB
	 BBB

	21684AAA4
	RABOBANK NEDERLAND
	Hartford Life and Annuity Insurance Company
	PA2
	PA221684AAA4
	3,900,000
	

	3,900,000
	

	4,035,578
	

	4,103,151
	

	6.92
	

	 Corporates
	 Financials
	 A3
	 A

	BHM0J85Z8
	STERICYCLE INC.   Prvt
	Hartford Life and Annuity Insurance Company
	PA2
	PA2BHM0J85Z8
	15,000,000
	

	15,000,000
	

	15,000,000
	

	15,974,700
	

	3.79
	

	 Corporates
	 Industrial
	 A3
	 A

	29364WAS7
	ENTERGY GULF STATES LOUISIANA LLC
	Hartford Life and Annuity Insurance Company
	PA2
	PA229364WAS7
	3,117,000
	

	3,117,000
	

	3,110,126
	

	3,266,806
	

	6.42
	

	 Corporates
	 Utilities
	 A2
	 A

	BHM0JEJN7
	HTFD REGENCY PO   PN Prvt
	Hartford Life and Annuity Insurance Company
	PA2
	PA2BHM0JEJN7
	32,401,000
	

	29,941,407
	

	29,941,407
	

	31,192,398
	

	4.13
	

	 CML
	 CML
	 Aa3
	 AA

	42824CAY5
	HEWLETT PACKARD ENTERPRISE CO
	Hartford Life and Annuity Insurance Company
	PA2
	PA242824CAY5
	9,630,000
	

	9,630,000
	

	9,415,106
	

	9,643,838
	

	28.29
	

	 Corporates
	 Industrial
	 BBB
	 BBB

	BHM0LDGM1
	GREEN MOUNTAIN POWER CORPORATION Prvt
	Hartford Life and Annuity Insurance Company
	PA2
	PA2BHM0LDGM1
	3,400,000
	

	3,400,000
	

	3,400,000
	

	3,515,328
	

	24.88
	

	 Corporates
	 Utilities
	 A
	 A

	291011AY0
	EMERSON ELECTRIC CO
	Hartford Life and Annuity Insurance Company
	PA2
	PA2291011AY0
	7,500,000
	

	7,500,000
	

	7,491,092
	

	8,091,270
	

	2.79
	

	 Corporates
	 Industrials
	 A2
	 A

	913017BR9
	UNITED TECHNOLOGIES CORP
	Hartford Life and Annuity Insurance Company
	PA2
	PA2913017BR9
	5,000,000
	

	5,000,000
	

	4,990,629
	

	5,395,915
	

	3.29
	

	 Corporates
	 Industrials
	 A-
	 A

	64072TAC9
	CSC HOLDINGS LLC  144A
	Hartford Life and Annuity Insurance Company
	PA2
	PA264072TAC9
	4,662,000
	

	4,662,000
	

	4,905,682
	

	5,093,235
	

	3.79
	

	 BIG Corporates
	 HY Industrials
	 BB-
	 BIG

	853496AB3
	STANDARD INDUSTRIES INC    144A
	Hartford Life and Annuity Insurance Company
	PA2
	PA2853496AB3
	2,419,000
	

	2,419,000
	

	2,449,270
	

	2,503,907
	

	6.13
	

	 BIG Corporates
	 HY Industrials
	 Ba2
	 BIG

	87264AAL9
	T-MOBILE USA INC
	Hartford Life and Annuity Insurance Company
	PA2
	PA287264AAL9
	7,598,000
	

	7,598,000
	

	7,825,411
	

	8,053,880
	

	1.25
	

	 BIG Corporates
	 HY Industrials
	 Ba3
	 BIG

	BHM0JEHH2
	HTFD REGENCY PO   PN Prvt
	Hartford Life and Annuity Insurance Company
	PA2
	PA2BHM0JEHH2
	9,000,000
	

	8,322,273
	

	8,322,273
	

	8,724,180
	

	5.89
	

	 CML
	 CML
	 A1
	 A

	482480AE0
	KLA-TENCOR CORPORATION
	Hartford Life and Annuity Insurance Company
	PA2
	PA2482480AE0
	7,700,275
	

	7,700,275
	

	7,897,946
	

	8,151,604
	

	7.59
	

	 Corporates
	 Industrials
	 Baa2
	 BBB

	13645RAP9
	CANADIAN PACIFIC RAILWAY CO
	Hartford Life and Annuity Insurance Company
	PA2
	PA213645RAP9
	5,000,000
	

	5,000,000
	

	4,948,530
	

	5,371,760
	

	5.04
	

	 Corporates
	 Industrials
	 Baa1
	 BBB

	98417EAR1
	GLENCORE FINANCE CANADA LTD 144A
	Hartford Life and Annuity Insurance Company
	PA2
	PA298417EAR1
	11,283,150
	

	11,283,150
	

	10,986,015
	

	10,841,302
	

	25.82
	

	 Corporates
	 Industrial
	 Baa3
	 BBB

	375558BD4
	GILEAD SCIENCES INC
	Hartford Life and Annuity Insurance Company
	PA2
	PA2375558BD4
	5,483,750
	

	5,483,750
	

	5,791,826
	

	5,673,877
	

	28.67
	

	 Corporates
	 Industrial
	 A3
	 A

	55336VAJ9
	MPLX LP
	Hartford Life and Annuity Insurance Company
	PA2
	PA255336VAJ9
	2,153,375
	

	2,153,375
	

	2,199,786
	

	2,213,986
	

	8.17
	

	 Corporates
	 Industrial
	 BBB-
	 BBB

	BHM03HEU6
	HTFD BOSTON HAR   PN Prvt
	Hartford Life and Annuity Insurance Company
	PA2
	PA2BHM03HEU6
	10,000,000
	

	10,000,000
	

	10,000,000
	

	9,986,822
	

	1.34
	

	 CML
	 CML
	 A2
	 A

	BHM0H7EB5
	TRANSWESTERN PIPELINE CO SENIOR Prvt
	Hartford Life and Annuity Insurance Company
	PA2
	PA2BHM0H7EB5
	7,500,000
	

	7,500,000
	

	7,500,000
	

	8,049,600
	

	3.94
	

	 Corporates
	 Industrials
	 Baa3
	 BBB

	130911XH8
	CALIFORNIA STWIDE TXBL PENS AMBAC
	Hartford Life and Annuity Insurance Company
	PA2
	PA2130911XH8
	16,050,000
	

	16,050,000
	

	16,050,000
	

	16,784,288
	

	4.09
	

	 Corporates
	 Tax Muni
	 Baa1
	 BBB

	29364WAM0
	ENTERGY LOUISIANA LLC
	Hartford Life and Annuity Insurance Company
	PA2
	PA229364WAM0
	3,000,000
	

	3,000,000
	

	2,997,911
	

	3,180,462
	

	8.79
	

	 Corporates
	 Utilities
	 A2
	 A

	035242AN6
	ANHEUSER-BUSCH INBEV FINANCE INC
	Hartford Life and Annuity Insurance Company
	PA2
	PA2035242AN6
	8,675,560
	

	8,675,560
	

	8,655,459
	

	9,377,153
	

	28.59
	

	 Corporates
	 Industrial
	 A3
	 A

	29444UAP1
	EQUINIX INC
	Hartford Life and Annuity Insurance Company
	PA2
	PA229444UAP1
	2,190,000
	

	2,190,000
	

	2,276,407
	

	2,288,550
	

	6.00
	

	 BIG Corporates
	 HY Industrials
	 BB
	 BIG

	BHM0HX7K6
	PNG COMPANIES LLC Prvt
	Hartford Life and Annuity Insurance Company
	PA2
	PA2BHM0HX7K6
	4,000,000
	

	4,000,000
	

	4,228,199
	

	4,326,840
	

	3.16
	

	 Corporates
	 Utilities
	 BBB-
	 BBB

	63938CAD0
	NAVIENT CORP
	Hartford Life and Annuity Insurance Company
	PA2
	PA263938CAD0
	2,455,000
	

	2,455,000
	

	2,481,751
	

	2,596,163
	

	4.57
	

	 BIG Corporates
	 HY Financials
	 BB-
	 BIG

	81727TAA6
	SENSATA TECHNOLOGIES UK FINANCING 144A
	Hartford Life and Annuity Insurance Company
	PA2
	PA281727TAA6
	1,879,000
	

	1,879,000
	

	1,920,406
	

	1,963,555
	

	4.13
	

	 BIG Corporates
	 HY Industrials
	 Ba3
	 BIG

	92826CAF9
	VISA INC
	Hartford Life and Annuity Insurance Company
	PA2
	PA292826CAF9
	3,697,920
	

	3,697,920
	

	3,691,853
	

	3,903,206
	

	28.46
	

	 Corporates
	 Industrial
	 A1
	 A

	190760HT8
	COBB-MARIETTA GA COLISEUM & EX
	Hartford Life and Annuity Insurance Company
	PA2
	PA2190760HT8
	13,019,225
	

	13,019,225
	

	13,019,225
	

	13,392,096
	

	9.00
	

	 Corporates
	 Tax Muni
	 AAA
	 AAA

	344868AA2
	FOOTBALL TRUST V  144A
	Hartford Life and Annuity Insurance Company
	PA2
	PA2344868AA2
	4,000,000
	

	4,000,000
	

	4,000,000
	

	4,251,684
	

	3.78
	

	 Corporates
	 Industrials
	 A
	 A

	BHM127TJ6
	495 & 499 BROAD   PN Prvt
	Hartford Life and Annuity Insurance Company
	PA2
	PA2BHM127TJ6
	40,000,000
	

	40,000,000
	

	40,000,000
	

	40,266,604
	

	16.00
	

	 CML
	 CML
	 A2
	 A

	496902AN7
	KINROSS GOLD CORP
	Hartford Life and Annuity Insurance Company
	PA2
	PA2496902AN7
	2,526,000
	

	2,526,000
	

	2,572,093
	

	2,557,575
	

	6.96
	

	 BIG Corporates
	 HY Industrials
	 BB+
	 BIG

	4520015Y2
	ILLINOIOS ED FACS AUTH REVS
	Hartford Life and Annuity Insurance Company
	PA2
	PA24520015Y2
	13,118,200
	

	13,118,200
	

	13,095,387
	

	13,929,167
	

	3.54
	

	 Corporates
	 Tax Muni
	 A2
	 A

	BHM014GK7
	DODGER TICKETS LLC SER A SR SEC Prvt
	Hartford Life and Annuity Insurance Company
	PA2
	PA2BHM014GK7
	20,000,000
	

	15,305,416
	

	15,305,416
	

	16,478,576
	

	7.64
	

	 Corporates
	 Industrial
	 BBB
	 BBB

	
																			
	521865AX3
	LEAR CORP
	Hartford Life and Annuity Insurance Company
	PA2
	PA2521865AX3
	2,616,685
	

	2,616,685
	

	2,686,190
	

	2,750,790
	

	3.04
	

	 Corporates
	 Industrials
	 Baa3
	 BBB

	BHM0W7049
	PORTLAND GENERAL ELECTRIC COMP Prvt
	Hartford Life and Annuity Insurance Company
	PA2
	PA2BHM0W7049
	11,000,000
	

	11,000,000
	

	11,000,000
	

	11,633,160
	

	25.88
	

	 Corporates
	 Utilities
	 A-
	 A

	55616XAB3
	MACYS RETAIL HOLDINGS INC
	Hartford Life and Annuity Insurance Company
	PA2
	PA255616XAB3
	5,000,000
	

	5,000,000
	

	5,149,310
	

	5,585,295
	

	10.54
	

	 Corporates
	 Industrials
	 BBB
	 BBB

	278058AK8
	EATON CORP
	Hartford Life and Annuity Insurance Company
	PA2
	PA2278058AK8
	7,690,625
	

	7,690,625
	

	8,051,165
	

	8,743,810
	

	2.46
	

	 Corporates
	 Industrial
	 BBB+
	 BBB

	BHM017MA5
	DETROIT EDISON COMPANY (THE)  SR Prvt
	Hartford Life and Annuity Insurance Company
	PA2
	PA2BHM017MA5
	14,000,000
	

	14,000,000
	

	14,000,000
	

	15,366,820
	

	6.75
	

	 Corporates
	 Utilities
	 A2
	 A

	BHM01J674
	WELLS FARGO-WACHOVIA BANK  Prvt
	Hartford Life and Annuity Insurance Company
	PA2
	PA2BHM01J674
	8,985,763
	

	5,604,123
	

	5,604,123
	

	6,147,050
	

	4.02
	

	 Corporates
	 Financial
	 A2
	 A

	736688FN7
	PORTLAND ORE CMNTY COLLEGE
	Hartford Life and Annuity Insurance Company
	PA2
	PA2736688FN7
	5,350,000
	

	5,350,000
	

	5,350,000
	

	5,852,258
	

	6.74
	

	 Corporates
	 Tax Muni
	 Aa2
	 AA

	785592AD8
	SABINE PASS LIQUEFACTION LLC
	Hartford Life and Annuity Insurance Company
	PA2
	PA2785592AD8
	5,346,000
	

	5,346,000
	

	5,454,512
	

	5,680,125
	

	6.04
	

	 BIG Corporates
	 HY Industrials
	 Ba1
	 BIG

	68275CAC2
	FB_05-1         A3 144A
	Hartford Life and Annuity Insurance Company
	PA2
	PA268275CAC2
	5,350,000
	

	5,350,000
	

	5,378,890
	

	6,025,876
	

	8.17
	

	 CMBS
	 CMBS
	 AAA
	 AAA

	347382AA1
	FORT GORDON GA MILITARY HSG 144A
	Hartford Life and Annuity Insurance Company
	PA2
	PA2347382AA1
	6,369,175
	

	6,369,175
	

	6,796,856
	

	6,950,107
	

	26.64
	

	 Corporates
	 Tax Muni
	 Baa2
	 BBB

	BHM03CN52
	ALLETE INC        Prvt
	Hartford Life and Annuity Insurance Company
	PA2
	PA2BHM03CN52
	10,000,000
	

	10,000,000
	

	10,000,000
	

	11,376,000
	

	6.34
	

	 Corporates
	 Utilities
	 A1
	 A

	BHM01JC69
	UBS 733 THIRD A   PN Prvt
	Hartford Life and Annuity Insurance Company
	PA2
	PA2BHM01JC69
	29,981,009
	

	26,079,414
	

	26,401,588
	

	28,863,808
	

	8.16
	

	 CML
	 CML
	 Aa3
	 AA

	BHM01NWT8
	UBS 605 3RD AVE   PN Prvt
	Hartford Life and Annuity Insurance Company
	PA2
	PA2BHM01NWT8
	30,000,000
	

	27,452,955
	

	26,828,233
	

	30,661,780
	

	8.16
	

	 CML
	 CML
	 A1
	 A

	752123JH3
	RANCHO CUCAMONGA  REDEV TAX ALLOC
	Hartford Life and Annuity Insurance Company
	PA2
	PA2752123JH3
	15,054,900
	

	15,054,900
	

	15,054,900
	

	16,978,163
	

	9.53
	

	 Corporates
	 Tax Muni
	 A3
	 A

	682439AC8
	AACMT_05-C6A    A2 144A
	Hartford Life and Annuity Insurance Company
	PA2
	PA2682439AC8
	13,375,000
	

	13,375,000
	

	13,406,245
	

	15,474,287
	

	9.54
	

	 CMBS
	 CMBS
	 AAA
	 AAA

	718846AM0
	PHOENIX AZ CIVIC IMP RENT CAR FGIC
	Hartford Life and Annuity Insurance Company
	PA2
	PA2718846AM0
	22,673,300
	

	22,673,300
	

	22,673,300
	

	25,075,763
	

	5.62
	

	 Corporates
	 Tax Muni
	 A3
	 A

	67704LAA9
	OGLETHORPE PWR CORP GA 1ST MTG 144A
	Hartford Life and Annuity Insurance Company
	PA2
	PA267704LAA9
	16,050,000
	

	16,050,000
	

	16,050,000
	

	16,688,951
	

	16.00
	

	 Corporates
	 Tax Muni
	 A
	 A

	134011AJ4
	CAMP PENDLETON/QUANTICO    144A
	Hartford Life and Annuity Insurance Company
	PA2
	PA2134011AJ4
	15,349,150
	

	15,349,150
	

	15,349,150
	

	16,360,812
	

	22.01
	

	 Corporates
	 Tax Muni
	 AA
	 AA

	10075EAT5
	BOSTON GAS CO INC MTN
	Hartford Life and Annuity Insurance Company
	PA2
	PA210075EAT5
	5,350,000
	

	5,350,000
	

	5,338,076
	

	6,181,925
	

	8.75
	

	 Corporates
	 Utilities
	 A3
	 A

	949746RF0
	WELLS FARGO & COMPANY
	Hartford Life and Annuity Insurance Company
	PA2
	PA2949746RF0
	18,501,370
	

	18,501,370
	

	16,453,481
	

	20,962,811
	

	27.04
	

	 Corporates
	 Financial
	 A-
	 A

	BHM02H3Y1
	NEW CARDINALS STADIUM LLC  Prvt
	Hartford Life and Annuity Insurance Company
	PA2
	PA2BHM02H3Y1
	18,000,000
	

	14,296,961
	

	14,296,961
	

	16,516,278
	

	9.26
	

	 Corporates
	 Industrial
	 BBB
	 BBB

	686053CP2
	OREGON SCH BRDS ASSN
	Hartford Life and Annuity Insurance Company
	PA2
	PA2686053CP2
	16,050,000
	

	16,050,000
	

	16,050,000
	

	18,177,267
	

	7.50
	

	 Corporates
	 Tax Muni
	 AA-
	 AA

	45200FCE7
	ILLINOIS FIN AUTH-THEORY & COMPUTI
	Hartford Life and Annuity Insurance Company
	PA2
	PA245200FCE7
	12,305,000
	

	12,305,000
	

	12,305,000
	

	14,138,814
	

	10.62
	

	 Corporates
	 Tax Muni
	 A3
	 A

	686053DR7
	OREGON SCH BOARD TAXABLE 04 FSA
	Hartford Life and Annuity Insurance Company
	PA2
	PA2686053DR7
	10,700,000
	

	10,700,000
	

	10,700,000
	

	12,232,561
	

	9.01
	

	 Corporates
	 Tax Muni
	 Aa2
	 AA

	24668PAE7
	KONINKLIJKE AHOLD DELHAIZE NV
	Hartford Life and Annuity Insurance Company
	PA2
	PA224668PAE7
	14,595,335
	

	14,595,335
	

	14,579,522
	

	16,172,989
	

	23.75
	

	 Corporates
	 Industrial
	 Baa2
	 BBB

	126408GU1
	CSX CORP
	Hartford Life and Annuity Insurance Company
	PA2
	PA2126408GU1
	15,407,465
	

	15,407,465
	

	15,166,225
	

	17,686,984
	

	23.88
	

	 Corporates
	 Industrial
	 Baa1
	 BBB

	04351LAA8
	ASCENSION HEALTH
	Hartford Life and Annuity Insurance Company
	PA2
	PA204351LAA8
	3,000,000
	

	3,000,000
	

	3,000,000
	

	3,271,038
	

	34.73
	

	 Corporates
	 Taxable Muni
	 AA+
	 AA

	694308GK7
	PACIFIC GAS & ELECTRIC CO
	Hartford Life and Annuity Insurance Company
	PA2
	PA2694308GK7
	12,318,375
	

	12,318,375
	

	12,189,203
	

	14,544,847
	

	20.17
	

	 Corporates
	 Utilities
	 A3
	 A

	594918AX2
	MICROSOFT CORPORATION
	Hartford Life and Annuity Insurance Company
	PA2
	PA2594918AX2
	10,700,000
	

	10,700,000
	

	10,720,207
	

	11,876,936
	

	26.96
	

	 Corporates
	 Industrial
	 Aaa
	 AAA

	15135UAF6
	CENOVUS ENERGY INC
	Hartford Life and Annuity Insurance Company
	PA2
	PA215135UAF6
	15,000,000
	

	15,000,000
	

	16,731,961
	

	16,724,550
	

	22.88
	

	 BIG Corporates
	 HY Industrial
	 Ba2
	 BIG

	694308GJ0
	PACIFIC GAS & ELECTRIC CO
	Hartford Life and Annuity Insurance Company
	PA2
	PA2694308GJ0
	13,910,000
	

	13,910,000
	

	13,826,663
	

	16,969,797
	

	20.17
	

	 Corporates
	 Utilities
	 A3
	 A

	69351UAN3
	PPL ELECTRIC UTILITIES CORPORATION
	Hartford Life and Annuity Insurance Company
	PA2
	PA269351UAN3
	3,000,000
	

	3,000,000
	

	3,050,437
	

	3,474,918
	

	24.04
	

	 Corporates
	 Utilities
	 A
	 A

	136055AA8
	CANADIAN IMPERIAL BANK OF COMMERCE 144A
	Hartford Life and Annuity Insurance Company
	PA2
	PA2136055AA8
	12,109,725
	

	9,271,499
	

	9,360,720
	

	10,894,419
	

	7.63
	

	 Corporates
	 Financial
	 A+
	 A

	586054AA6
	MEMORIAL SLOAN-KETTERING CANCER CT
	Hartford Life and Annuity Insurance Company
	PA2
	PA2586054AA6
	9,726,835
	

	9,726,835
	

	9,905,730
	

	10,927,088
	

	25.50
	

	 Corporates
	 Industrial
	 AA-
	 AA

	
																			
	21684AAB2
	RABOBANK NEDERLAND
	Hartford Life and Annuity Insurance Company
	PA2
	PA221684AAB2
	11,457,025
	

	11,457,025
	

	11,462,694
	

	13,276,893
	

	26.92
	

	 Corporates
	 Financial
	 A3
	 A

	68389XAM7
	ORACLE CORPORATION
	Hartford Life and Annuity Insurance Company
	PA2
	PA268389XAM7
	13,963,500
	

	13,963,500
	

	14,591,628
	

	16,227,137
	

	23.54
	

	 Corporates
	 Industrial
	 A+
	 A

	49337WAJ9
	KEYSPAN CORP
	Hartford Life and Annuity Insurance Company
	PA2
	PA249337WAJ9
	13,321,500
	

	13,321,500
	

	13,321,500
	

	15,101,026
	

	18.25
	

	 Corporates
	 Utilities
	 BBB+
	 BBB

	976657AG1
	WISCONSIN ENERGY CORP
	Hartford Life and Annuity Insurance Company
	PA2
	PA2976657AG1
	11,173,475
	

	11,173,475
	

	11,977,149
	

	13,324,246
	

	16.25
	

	 Corporates
	 Utilities
	 BBB+
	 BBB

	BHM0213U4
	NORTHERN ILLINOIS GAS CO   Prvt
	Hartford Life and Annuity Insurance Company
	PA2
	PA2BHM0213U4
	15,000,000
	

	15,000,000
	

	15,000,000
	

	17,964,731
	

	19.96
	

	 Corporates
	 Utilities
	 AA-
	 AA

	724060AA6
	PIPELINE FUNDING COMPANY LLC 144A
	Hartford Life and Annuity Insurance Company
	PA2
	PA2724060AA6
	2,675,000
	

	2,621,768
	

	3,101,067
	

	3,038,823
	

	11.05
	

	 Corporates
	 Industrial
	 BBB-
	 BBB

	001192AH6
	AGL CAPITAL CORPORATION
	Hartford Life and Annuity Insurance Company
	PA2
	PA2001192AH6
	3,370,000
	

	3,370,000
	

	3,364,850
	

	3,925,420
	

	23.71
	

	 Corporates
	 Utilities
	 BBB+
	 BBB

	594918AD6
	MICROSOFT CORPORATION
	Hartford Life and Annuity Insurance Company
	PA2
	PA2594918AD6
	13,910,000
	

	13,910,000
	

	13,885,366
	

	16,309,044
	

	22.42
	

	 Corporates
	 Industrial
	 Aaa
	 AAA

	097023AD7
	BOEING COMPANY
	Hartford Life and Annuity Insurance Company
	PA2
	PA2097023AD7
	5,350,000
	

	5,350,000
	

	5,631,121
	

	6,765,589
	

	4.63
	

	 Corporates
	 Industrial
	 A
	 A

	626207YS7
	GEORGIA MUN ELEC AUTH
	Hartford Life and Annuity Insurance Company
	PA2
	PA2626207YS7
	6,126,820
	

	6,126,820
	

	7,121,672
	

	6,964,111
	

	27.42
	

	 Corporates
	 Tax Muni
	 A-
	 A

	143658AH5
	CARNIVAL CORPORATION
	Hartford Life and Annuity Insurance Company
	PA2
	PA2143658AH5
	4,428,730
	

	4,428,730
	

	4,886,365
	

	5,192,881
	

	11.04
	

	 Corporates
	 Industrial
	 A-
	 A

	842400FF5
	SOUTHERN CALIFORNIA EDISON
	Hartford Life and Annuity Insurance Company
	PA2
	PA2842400FF5
	16,050,000
	

	16,050,000
	

	15,977,895
	

	19,177,760
	

	20.04
	

	 Corporates
	 Utilities
	 A+
	 A

	914440LJ9
	UNIVERSITY MASS BLDG AUTH PROJ REV
	Hartford Life and Annuity Insurance Company
	PA2
	PA2914440LJ9
	4,000,000
	

	4,000,000
	

	3,829,582
	

	4,768,240
	

	19.61
	

	 Corporates
	 Taxable Muni
	 Aa2
	 AA

	540424AP3
	LOEWS CORPORATION
	Hartford Life and Annuity Insurance Company
	PA2
	PA2540424AP3
	5,000,000
	

	5,000,000
	

	4,893,267
	

	5,944,725
	

	18.09
	

	 Corporates
	 Financials
	 A
	 A

	199575AV3
	COLUMBUS SOUTHERN POWER CO
	Hartford Life and Annuity Insurance Company
	PA2
	PA2199575AV3
	16,737,475
	

	16,737,475
	

	16,488,732
	

	19,401,679
	

	18.75
	

	 Corporates
	 Utilities
	 BBB+
	 BBB

	048677AG3
	ATLANTIC MARINE CORPS COMMUNITIES 144A
	Hartford Life and Annuity Insurance Company
	PA2
	PA2048677AG3
	3,745,000
	

	3,666,326
	

	4,061,850
	

	4,282,196
	

	34.92
	

	 Corporates
	 Tax Muni
	 A1
	 A

	594918AM6
	MICROSOFT CORPORATION
	Hartford Life and Annuity Insurance Company
	PA2
	PA2594918AM6
	5,000,000
	

	5,000,000
	

	4,961,685
	

	5,945,010
	

	24.11
	

	 Corporates
	 Industrials
	 Aaa
	 AAA

	771367BX6
	ROCHESTER GAS & ELECTRIC
	Hartford Life and Annuity Insurance Company
	PA2
	PA2771367BX6
	2,600,000
	

	2,600,000
	

	2,962,960
	

	2,991,100
	

	16.67
	

	 Corporates
	 Utilities
	 A
	 A

	592112DR4
	METROPOLITAN GOVT NASHVILLE & DAVI
	Hartford Life and Annuity Insurance Company
	PA2
	PA2592112DR4
	4,280,000
	

	4,280,000
	

	4,280,000
	

	5,026,603
	

	13.93
	

	 Corporates
	 Tax Muni
	 Aa2
	 AA

	136385AL5
	CANADIAN NATURAL RESOURCES LIMITED
	Hartford Life and Annuity Insurance Company
	PA2
	PA2136385AL5
	7,757,500
	

	7,757,500
	

	7,730,129
	

	8,825,428
	

	21.21
	

	 Corporates
	 Industrial
	 Baa3
	 BBB

	71644EAF9
	PETRO-CANADA
	Hartford Life and Annuity Insurance Company
	PA2
	PA271644EAF9
	15,116,425
	

	15,116,425
	

	15,257,766
	

	18,444,125
	

	11.88
	

	 Corporates
	 Industrial
	 Baa1
	 BBB

	BHM042GE2
	CONSOLIDATED EDISON INC    Prvt
	Hartford Life and Annuity Insurance Company
	PA2
	PA2BHM042GE2
	15,000,000
	

	13,459,730
	

	13,459,730
	

	17,000,178
	

	5.39
	

	 Corporates
	 Utilities
	 A2
	 A

	61980AAD5
	MOTIVA ENTERPRISES LLC     144A
	Hartford Life and Annuity Insurance Company
	PA2
	PA261980AAD5
	15,263,975
	

	15,263,975
	

	17,416,278
	

	18,453,169
	

	23.04
	

	 Corporates
	 Industrials
	 BBB+
	 BBB

	56585AAF9
	MARATHON PETROLEUM CORP
	Hartford Life and Annuity Insurance Company
	PA2
	PA256585AAF9
	18,743,725
	

	18,743,725
	

	18,598,269
	

	20,048,195
	

	24.17
	

	 Corporates
	 Industrial
	 BBB
	 BBB

	91324PAR3
	UNITEDHEALTH GROUP INC
	Hartford Life and Annuity Insurance Company
	PA2
	PA291324PAR3
	10,700,000
	

	10,700,000
	

	9,991,220
	

	13,020,723
	

	19.21
	

	 Corporates
	 Financial
	 A-
	 A

	913017AT6
	UNITED TECHNOLOGIES CORP
	Hartford Life and Annuity Insurance Company
	PA2
	PA2913017AT6
	2,675,000
	

	2,675,000
	

	3,621,469
	

	3,482,574
	

	11.59
	

	 Corporates
	 Industrial
	 A-
	 A

	4042Q1AA5
	HSBC BANK USA
	Hartford Life and Annuity Insurance Company
	PA2
	PA24042Q1AA5
	21,400,000
	

	21,400,000
	

	21,310,938
	

	24,914,543
	

	17.84
	

	 Corporates
	 Financial
	 A1
	 A

	459200GS4
	INTERNATIONAL BUSINESS MACHINES CO
	Hartford Life and Annuity Insurance Company
	PA2
	PA2459200GS4
	11,826,175
	

	11,826,175
	

	9,756,473
	

	14,416,048
	

	22.92
	

	 Corporates
	 Industrial
	 Aa3
	 AA

	36186CBY8
	ALLY FINANCIAL INC
	Hartford Life and Annuity Insurance Company
	PA2
	PA236186CBY8
	3,994,000
	

	3,994,000
	

	4,752,890
	

	4,632,720
	

	14.84
	

	 BIG Corporates
	 HY Financials
	 BB+
	 BIG

	26882PAR3
	ERAC USA FINANCE CO        144A
	Hartford Life and Annuity Insurance Company
	PA2
	PA226882PAR3
	8,025,000
	

	8,025,000
	

	7,778,429
	

	9,732,455
	

	17.42
	

	 Corporates
	 Industrial
	 Baa1
	 BBB

	745332CD6
	PUGET SOUND ENERGY INC
	Hartford Life and Annuity Insurance Company
	PA2
	PA2745332CD6
	2,715,000
	

	2,715,000
	

	2,714,876
	

	3,283,646
	

	23.79
	

	 Corporates
	 Utilities
	 A-
	 A

	90131HAZ8
	21ST CENTURY FOX AMERICA INC
	Hartford Life and Annuity Insurance Company
	PA2
	PA290131HAZ8
	3,531,000
	

	3,531,000
	

	4,712,593
	

	4,341,760
	

	11.27
	

	 Corporates
	 Industrial
	 BBB+
	 BBB

	49338CAA1
	KEYSPAN GAS EAST CORPORATION 144A
	Hartford Life and Annuity Insurance Company
	PA2
	PA249338CAA1
	25,155,000
	

	25,155,000
	

	25,155,000
	

	29,993,615
	

	24.25
	

	 Corporates
	 Utilities
	 A-
	 A

	887315AM1
	HISTORIC TW INC
	Hartford Life and Annuity Insurance Company
	PA2
	PA2887315AM1
	8,107,925
	

	8,107,925
	

	9,025,899
	

	10,397,992
	

	6.09
	

	 Corporates
	 Industrial
	 BBB
	 BBB

	
																			
	654894AF1
	NOBLE ENERGY INC
	Hartford Life and Annuity Insurance Company
	PA2
	PA2654894AF1
	11,770,000
	

	11,770,000
	

	12,145,109
	

	14,323,984
	

	10.25
	

	 Corporates
	 Industrial
	 BBB-
	 BBB

	626207YF5
	GEORGIA MUN ELEC AUTH PWR REV
	Hartford Life and Annuity Insurance Company
	PA2
	PA2626207YF5
	15,204,700
	

	15,204,700
	

	17,878,721
	

	18,857,021
	

	27.15
	

	 Corporates
	 Tax Muni
	 A+
	 A

	25272KAR4
	DIAMOND 1 FINANCE CORPORATION/DIAM 144A
	Hartford Life and Annuity Insurance Company
	PA2
	PA225272KAR4
	1,648,870
	

	1,648,870
	

	1,672,436
	

	2,030,234
	

	29.04
	

	 Corporates
	 Industrial
	 BBB-
	 BBB

	592173AE8
	METROPOLITAN LIFE INSURANCE CO 144A
	Hartford Life and Annuity Insurance Company
	PA2
	PA2592173AE8
	7,490,000
	

	7,490,000
	

	7,425,114
	

	9,424,959
	

	8.84
	

	 Corporates
	 Financial
	 A
	 A

	71644EAE2
	PETRO-CANADA
	Hartford Life and Annuity Insurance Company
	PA2
	PA271644EAE2
	14,760,650
	

	14,760,650
	

	15,478,544
	

	18,502,032
	

	9.46
	

	 Corporates
	 Industrial
	 Baa1
	 BBB

	393154AC3
	GREEN MOUNTAIN POWER CORP  Prvt
	Hartford Life and Annuity Insurance Company
	PA2
	PA2393154AC3
	15,000,000
	

	15,000,000
	

	15,000,000
	

	18,979,430
	

	19.59
	

	 Corporates
	 Utilities
	 A
	 A

	309588AE1
	FARMERS EXCHANGE CAPITAL   144A
	Hartford Life and Annuity Insurance Company
	PA2
	PA2309588AE1
	10,700,000
	

	10,700,000
	

	9,225,561
	

	12,136,486
	

	31.54
	

	 Corporates
	 Financial
	 Baa2
	 BBB

	90131HAX3
	21ST CENTURY FOX AMERICA INC
	Hartford Life and Annuity Insurance Company
	PA2
	PA290131HAX3
	5,188,430
	

	5,188,430
	

	6,198,600
	

	6,686,205
	

	8.83
	

	 Corporates
	 Industrial
	 BBB+
	 BBB

	79765RTK5
	SAN FRANCISCO CA CITY & CNTY WTR
	Hartford Life and Annuity Insurance Company
	PA2
	PA279765RTK5
	10,919,350
	

	10,919,350
	

	13,852,553
	

	13,363,537
	

	18.38
	

	 Corporates
	 Tax Muni
	 Aa3
	 AA

	74531EAC6
	PUGET SOUND ENERGY INC. MTN
	Hartford Life and Annuity Insurance Company
	PA2
	PA274531EAC6
	8,025,000
	

	8,025,000
	

	7,835,920
	

	10,171,254
	

	12.19
	

	 Corporates
	 Utilities
	 A-
	 A

	BHM0078Z7
	AQUARION WATER CO OF CT SR UNSEC Prvt
	Hartford Life and Annuity Insurance Company
	PA2
	PA2BHM0078Z7
	8,500,000
	

	8,500,000
	

	8,500,000
	

	10,908,645
	

	17.50
	

	 Corporates
	 Utilities
	 A3
	 A

	91324PBQ4
	UNITEDHEALTH GROUP INC
	Hartford Life and Annuity Insurance Company
	PA2
	PA291324PBQ4
	3,000,000
	

	3,000,000
	

	3,060,236
	

	3,743,457
	

	24.13
	

	 Corporates
	 Financials
	 A-
	 A

	743917AH9
	PRUDENTIAL INSURANCE CO OF AMERICA 144A
	Hartford Life and Annuity Insurance Company
	PA2
	PA2743917AH9
	11,097,450
	

	11,097,450
	

	12,270,353
	

	14,537,149
	

	8.50
	

	 Corporates
	 Financials
	 A
	 A

	172967HA2
	CITIGROUP INC
	Hartford Life and Annuity Insurance Company
	PA2
	PA2172967HA2
	10,700,000
	

	10,700,000
	

	11,958,269
	

	13,562,325
	

	26.70
	

	 Corporates
	 Financial
	 BBB
	 BBB

	45138LAT0
	IDAHO POWER COMPANY MTN
	Hartford Life and Annuity Insurance Company
	PA2
	PA245138LAT0
	5,350,000
	

	5,350,000
	

	5,337,705
	

	6,737,212
	

	20.79
	

	 Corporates
	 Utilities
	 A-
	 A

	264399ED4
	DUKE ENERGY CAROLINAS LLC
	Hartford Life and Annuity Insurance Company
	PA2
	PA2264399ED4
	3,979,000
	

	3,979,000
	

	4,838,319
	

	5,027,972
	

	15.79
	

	 Corporates
	 Utilities
	 A1
	 A

	11041RAL2
	BRITISH AEROSPACE FINANCE INC. 144A
	Hartford Life and Annuity Insurance Company
	PA2
	PA211041RAL2
	14,284,500
	

	14,284,500
	

	14,425,968
	

	18,485,029
	

	10.50
	

	 Corporates
	 Industrial
	 BBB
	 BBB

	437076AV4
	HOME DEPOT INC
	Hartford Life and Annuity Insurance Company
	PA2
	PA2437076AV4
	5,000,000
	

	5,000,000
	

	5,055,374
	

	6,356,345
	

	24.25
	

	 Corporates
	 Industrials
	 A
	 A

	149123BN0
	CATERPILLAR INC
	Hartford Life and Annuity Insurance Company
	PA2
	PA2149123BN0
	28,114,250
	

	28,114,250
	

	28,436,964
	

	35,178,939
	

	19.63
	

	 Corporates
	 Industrial
	 A
	 A

	501044BV2
	KROGER CO. (THE)
	Hartford Life and Annuity Insurance Company
	PA2
	PA2501044BV2
	5,350,000
	

	5,350,000
	

	5,746,073
	

	7,236,961
	

	12.71
	

	 Corporates
	 Industrial
	 BBB
	 BBB

	26442CAB0
	DUKE ENERGY CAROLINAS LLC
	Hartford Life and Annuity Insurance Company
	PA2
	PA226442CAB0
	10,700,000
	

	10,700,000
	

	10,693,580
	

	13,253,223
	

	21.04
	

	 Corporates
	 Utilities
	 AA-
	 AA

	891490AR5
	TOSCO CORP
	Hartford Life and Annuity Insurance Company
	PA2
	PA2891490AR5
	5,885,000
	

	5,885,000
	

	6,113,021
	

	7,524,996
	

	10.00
	

	 Corporates
	 Industrial
	 A-
	 A

	283695BK9
	EL PASO NATURAL GAS COMPANY
	Hartford Life and Annuity Insurance Company
	PA2
	PA2283695BK9
	2,675,000
	

	2,675,000
	

	3,289,539
	

	3,317,329
	

	15.46
	

	 Corporates
	 Industrial
	 BBB-
	 BBB

	17275RAD4
	CISCO SYSTEMS INC
	Hartford Life and Annuity Insurance Company
	PA2
	PA217275RAD4
	18,725,000
	

	18,725,000
	

	18,728,507
	

	23,780,319
	

	22.13
	

	 Corporates
	 Industrial
	 A1
	 A

	00817YAF5
	AETNA INC
	Hartford Life and Annuity Insurance Company
	PA2
	PA200817YAF5
	33,374,200
	

	33,374,200
	

	36,882,162
	

	42,458,223
	

	19.46
	

	 Corporates
	 Financials
	 A-
	 A

	BHM02Z867
	CHEYENNE LIGHT FUEL AND PWR Prvt
	Hartford Life and Annuity Insurance Company
	PA2
	PA2BHM02Z867
	25,000,000
	

	25,000,000
	

	25,000,000
	

	32,002,000
	

	20.89
	

	 Corporates
	 Utilities
	 Baa2
	 BBB

	656531AJ9
	STATOILHYDRO ASA
	Hartford Life and Annuity Insurance Company
	PA2
	PA2656531AJ9
	12,473,525
	

	12,473,525
	

	13,390,017
	

	16,634,356
	

	12.04
	

	 Corporates
	 Non-Corp
	 A+
	 A

	45138LAS2
	IDAHO POWER COMPANY MTN
	Hartford Life and Annuity Insurance Company
	PA2
	PA245138LAS2
	13,375,000
	

	13,375,000
	

	13,443,322
	

	16,772,986
	

	20.46
	

	 Corporates
	 Utilities
	 A-
	 A

	695114CB2
	PACIFICORP
	Hartford Life and Annuity Insurance Company
	PA2
	PA2695114CB2
	5,350,000
	

	5,350,000
	

	5,335,541
	

	6,728,288
	

	19.59
	

	 Corporates
	 Utilities
	 A+
	 A

	046353AD0
	ASTRAZENECA PLC
	Hartford Life and Annuity Insurance Company
	PA2
	PA2046353AD0
	29,425,000
	

	29,425,000
	

	30,937,423
	

	38,066,740
	

	20.71
	

	 Corporates
	 Industrial
	 A-
	 A

	880451AU3
	TENNESSEE GAS PIPELINE CO
	Hartford Life and Annuity Insurance Company
	PA2
	PA2880451AU3
	7,222,500
	

	7,222,500
	

	7,359,449
	

	8,731,663
	

	20.25
	

	 Corporates
	 Industrial
	 BBB-
	 BBB

	207597DV4
	CONNECTICUT LIGHT AND POWER CO
	Hartford Life and Annuity Insurance Company
	PA2
	PA2207597DV4
	4,681,250
	

	4,681,250
	

	4,679,229
	

	5,969,661
	

	19.42
	

	 Corporates
	 Utilities
	 A+
	 A

	665772CB3
	NORTHERN STATES POWER COMPANY (MIN
	Hartford Life and Annuity Insurance Company
	PA2
	PA2665772CB3
	5,403,500
	

	5,403,500
	

	5,387,789
	

	6,998,792
	

	19.42
	

	 Corporates
	 Utilities
	 A+
	 A

	037411AM7
	APACHE CORPORATION
	Hartford Life and Annuity Insurance Company
	PA2
	PA2037411AM7
	7,230,525
	

	7,230,525
	

	8,320,267
	

	9,571,834
	

	30.63
	

	 Corporates
	 Industrial
	 BBB
	 BBB

	
																			
	02765UDN1
	AMERICAN MUN PWR OHIO INC
	Hartford Life and Annuity Insurance Company
	PA2
	PA202765UDN1
	9,504,275
	

	9,504,275
	

	11,569,416
	

	11,239,375
	

	28.32
	

	 Corporates
	 Tax Muni
	 A
	 A

	12201PAB2
	BURLINGTON RESOURCES FINANCE CO
	Hartford Life and Annuity Insurance Company
	PA2
	PA212201PAB2
	29,425,000
	

	29,425,000
	

	29,425,000
	

	37,929,266
	

	14.63
	

	 Corporates
	 Industrial
	 A-
	 A

	534187BA6
	LINCOLN NATIONAL CORP
	Hartford Life and Annuity Insurance Company
	PA2
	PA2534187BA6
	10,700,000
	

	10,700,000
	

	11,807,916
	

	13,509,317
	

	23.46
	

	 Corporates
	 Financial
	 BBB+
	 BBB

	71644EAJ1
	PETRO-CANADA
	Hartford Life and Annuity Insurance Company
	PA2
	PA271644EAJ1
	7,000,000
	

	7,000,000
	

	7,988,308
	

	9,077,404
	

	21.38
	

	 Corporates
	 Industrials
	 Baa1
	 BBB

	167725AF7
	CHICAGO ILL TRAN AUTH
	Hartford Life and Annuity Insurance Company
	PA2
	PA2167725AF7
	10,253,275
	

	10,253,275
	

	11,676,641
	

	12,834,229
	

	16.87
	

	 Corporates
	 Tax Muni
	 A1
	 A

	172967AS0
	CITIGROUP INC
	Hartford Life and Annuity Insurance Company
	PA2
	PA2172967AS0
	7,222,500
	

	7,222,500
	

	7,673,483
	

	9,339,617
	

	81.13
	

	 Corporates
	 Financial
	 BBB+
	 BBB

	209111EU3
	CONSOLIDATED EDISON CO OF NEW YORK
	Hartford Life and Annuity Insurance Company
	PA2
	PA2209111EU3
	2,500,000
	

	2,500,000
	

	3,369,234
	

	3,383,618
	

	21.25
	

	 Corporates
	 Utilities
	 A-
	 A

	097023AS4
	BOEING COMPANY
	Hartford Life and Annuity Insurance Company
	PA2
	PA2097023AS4
	4,633,635
	

	4,633,635
	

	4,820,649
	

	6,273,715
	

	21.13
	

	 Corporates
	 Industrial
	 A
	 A

	44841SAC3
	HUTCHISON WHAMPOA INTERNATIONAL (0 144A
	Hartford Life and Annuity Insurance Company
	PA2
	PA244841SAC3
	13,375,000
	

	13,375,000
	

	13,350,853
	

	18,099,598
	

	16.90
	

	 Corporates
	 Industrial
	 A-
	 A

	64952GAF5
	NEW YORK LIFE INSURANCE COMPANY 144A
	Hartford Life and Annuity Insurance Company
	PA2
	PA264952GAF5
	2,675,000
	

	2,675,000
	

	3,743,003
	

	3,518,441
	

	22.88
	

	 Corporates
	 Financial
	 Aa2
	 AA

	915217RY1
	UNIVERSITY VA
	Hartford Life and Annuity Insurance Company
	PA2
	PA2915217RY1
	16,169,305
	

	16,169,305
	

	18,386,795
	

	21,999,633
	

	22.67
	

	 Corporates
	 Tax Muni
	 AAA
	 AAA

	695114BT4
	PACIFICORP
	Hartford Life and Annuity Insurance Company
	PA2
	PA2695114BT4
	8,827,500
	

	8,827,500
	

	8,953,559
	

	12,792,539
	

	14.88
	

	 Corporates
	 Utilities
	 A+
	 A

	902133AG2
	TYCO ELECTRONICS GROUP SA
	Hartford Life and Annuity Insurance Company
	PA2
	PA2902133AG2
	12,385,250
	

	12,385,250
	

	13,279,726
	

	16,129,051
	

	20.75
	

	 Corporates
	 Industrial
	 A-
	 A

	25156PAC7
	DEUTSCHE TELEKOM INTL FIN
	Hartford Life and Annuity Insurance Company
	PA2
	PA225156PAC7
	16,718,750
	

	16,718,750
	

	17,190,920
	

	24,578,485
	

	13.46
	

	 Corporates
	 Industrial
	 BBB+
	 BBB

	740816AG8
	PRESIDENT AND FELLOWS OF HARVARD 144A
	Hartford Life and Annuity Insurance Company
	PA2
	PA2740816AG8
	10,568,925
	

	10,568,925
	

	12,574,116
	

	15,002,462
	

	22.04
	

	 Corporates
	 Industrial
	 Aaa
	 AAA

	316773CH1
	FIFTH THIRD BANCORP
	Hartford Life and Annuity Insurance Company
	PA2
	PA2316773CH1
	21,400,000
	

	21,400,000
	

	21,349,645
	

	29,746,856
	

	21.17
	

	 Corporates
	 Financial
	 Baa1
	 BBB

	233835AQ0
	DAIMLERCHRYSLER NORTH AMERICA HLDG
	Hartford Life and Annuity Insurance Company
	PA2
	PA2233835AQ0
	7,063,605
	

	7,063,605
	

	8,069,799
	

	10,638,856
	

	14.05
	

	 Corporates
	 Industrial
	 A-
	 A

	111021AE1
	BRITISH TELECOMMUNICATIONS PLC
	Hartford Life and Annuity Insurance Company
	PA2
	PA2111021AE1
	14,506,525
	

	14,506,525
	

	16,392,269
	

	22,132,315
	

	13.96
	

	 Corporates
	 Industrial
	 BBB+
	 BBB

	03523TBF4
	ANHEUSER-BUSCH INBEV WORLDWIDE INC
	Hartford Life and Annuity Insurance Company
	PA2
	PA203523TBF4
	7,133,690
	

	7,133,690
	

	7,117,036
	

	10,728,314
	

	22.04
	

	 Corporates
	 Industrial
	 A3
	 A

	90131HBJ3
	21ST CENTURY FOX AMERICA INC
	Hartford Life and Annuity Insurance Company
	PA2
	PA290131HBJ3
	8,025,000
	

	8,025,000
	

	9,209,581
	

	10,916,014
	

	19.80
	

	 Corporates
	 Industrial
	 BBB+
	 BBB

	097023AE5
	BOEING COMPANY
	Hartford Life and Annuity Insurance Company
	PA2
	PA2097023AE5
	11,045,075
	

	11,045,075
	

	13,147,736
	

	16,937,832
	

	14.71
	

	 Corporates
	 Industrial
	 A
	 A

	13063BJC7
	STATE OF CALIFORNIA
	Hartford Life and Annuity Insurance Company
	PA2
	PA213063BJC7
	11,761,975
	

	11,761,975
	

	15,196,727
	

	17,716,828
	

	23.84
	

	 Corporates
	 Tax Muni
	 AA-
	 AA

	91913YAP5
	VALERO ENERGY CORP
	Hartford Life and Annuity Insurance Company
	PA2
	PA291913YAP5
	5,593,425
	

	5,593,425
	

	5,580,163
	

	8,554,377
	

	22.21
	

	 Corporates
	 Industrial
	 BBB
	 BBB

	55608PAA2
	MACQUARIE BANK LTD         144A
	Hartford Life and Annuity Insurance Company
	PA2
	PA255608PAA2
	3,000,000
	

	3,000,000
	

	2,999,937
	

	3,015,027
	

	0.14
	

	 Corporates
	 Financials
	 A
	 A

	62718QAA3
	MURRAY STREET INVESTMENT TRUST I
	Hartford Life and Annuity Insurance Company
	PA2
	PA262718QAA3
	3,000,000
	

	3,000,000
	

	2,999,846
	

	3,015,630
	

	0.19
	

	 Corporates
	 Financials
	 A3
	 A

	BHM02SKS1
	GALLAGHER ARTHUR J. & CO. - B Prvt
	Hartford Life and Annuity Insurance Company
	PA2
	PA2BHM02SKS1
	5,000,000
	

	5,000,000
	

	5,112,141
	

	5,107,800
	

	0.59
	

	 Corporates
	 Financials
	 Baa3
	 BBB

	44891AAA5
	HYUNDAI CAPITAL AMERICA    144A
	Hartford Life and Annuity Insurance Company
	PA2
	PA244891AAA5
	6,000,000
	

	6,000,000
	

	5,994,488
	

	5,998,908
	

	1.22
	

	 Corporates
	 Industrials
	 Baa1
	 BBB

	26250JAJ9
	DRSLF_12-25A   B1R 144A
	Hartford Life and Annuity Insurance Company
	PA2
	PA226250JAJ9
	4,250,000
	

	4,250,000
	

	4,250,000
	

	4,243,592
	

	5.83
	

	 CLO
	 CLO
	 AA
	 AA

	26250JAL4
	DRSLF_12-25A   B2R 144A
	Hartford Life and Annuity Insurance Company
	PA2
	PA226250JAL4
	1,750,000
	

	1,750,000
	

	1,750,000
	

	1,747,361
	

	5.83
	

	 CLO
	 CLO
	 AA
	 AA

	70069FDL8
	PPSI_04-WWF1    M3
	Hartford Life and Annuity Insurance Company
	PA2
	PA270069FDL8
	19,100,000
	

	11,157,473
	

	10,819,268
	

	11,099,353
	

	0.64
	

	 ABS
	 Home Equity
	 A+
	 A

	004421PR8
	ACE_05-HE4      M2
	Hartford Life and Annuity Insurance Company
	PA2
	PA2004421PR8
	20,006,000
	

	4,332,441
	

	4,154,447
	

	4,310,783
	

	0.43
	

	 ABS
	 Home Equity
	 Baa3
	 BBB

	07388YAG7
	BSCMS_07-PW16     AM
	Hartford Life and Annuity Insurance Company
	PA2
	PA207388YAG7
	2,100,000
	

	2,100,000
	

	2,097,386
	

	2,127,479
	

	0.38
	

	 CMBS
	 CMBS
	 A2
	 A

	93364LAD0
	WMCMS_07-SL3    AJ 144A
	Hartford Life and Annuity Insurance Company
	PA2
	PA293364LAD0
	8,000,000
	

	4,998,062
	

	4,060,075
	

	4,976,520
	

	0.22
	

	 CMBS
	 CMBS
	 Aaa
	 AAA

	93364LAE8
	WMCMS_07-SL3     B 144A
	Hartford Life and Annuity Insurance Company
	PA2
	PA293364LAE8
	5,000,000
	

	5,000,000
	

	4,972,746
	

	4,920,300
	

	1.75
	

	 CMBS
	 CMBS
	 Aa1
	 AA

	
											
	 CUSIP
	Position Description
	Legal Entity
	 Portfolio
	Par/Shares
	Closing Date Market Value (excl Accrued)
	Accrued Interest
	UniqueID

	61766RBA3
	MSBAM_16-C31    XA
	Hartford Life and Annuity Insurance Company
	PA2
	(250,839
	)
	(21,537
	)
	 NA
	PA261766RBA3

	032511BB2
	ANADARKO PETROLEUM CORPORATION
	Hartford Life and Annuity Insurance Company
	PA2
	(350,000
	)
	(149,349
	)
	 NA
	PA2032511BB2

	358266CJ1
	FRESNO CNTY CA TXBL PENS 04A FGIC
	Hartford Life and Annuity Insurance Company
	PA2
	1,700
	

	899
	

	—
	

	PA2358266CJ1

	736679LD1
	PORTLAND OR TXBL PENSION CAB MBIA
	Hartford Life and Annuity Insurance Company
	PA2
	4,050
	

	2,809
	

	—
	

	PA2736679LD1

	20030NBU4
	COMCAST CORPORATION
	Hartford Life and Annuity Insurance Company
	PA2
	500
	

	402
	

	6
	

	PA220030NBU4

	60636AMS9
	MISSOURI ST HEALTH & EDL FACS
	Hartford Life and Annuity Insurance Company
	PA2
	4,000
	

	3,361
	

	24
	

	PA260636AMS9

	92343VDC5
	VERIZON COMMUNICATIONS INC
	Hartford Life and Annuity Insurance Company
	PA2
	770
	

	666
	

	9
	

	PA292343VDC5

	167486PG8
	CHICAGO ILL TAXBL REF
	Hartford Life and Annuity Insurance Company
	PA2
	2,000
	

	1,815
	

	44
	

	PA2167486PG8

	9128282A7
	TREASURY NOTE (OLD)
	Hartford Life and Annuity Insurance Company
	PA2
	(10,770,000
	)
	(9,650,082
	)
	 NA
	PA29128282A7

	74913EAJ9
	QWEST CAPITAL FUNDING
	Hartford Life and Annuity Insurance Company
	PA2
	(1,353,000
	)
	(1,243,786
	)
	 NA
	PA274913EAJ9

	912828U24
	TREASURY NOTE (OTR)
	Hartford Life and Annuity Insurance Company
	PA2
	(4,830,000
	)
	(4,492,277
	)
	 NA
	PA2912828U24

	92343VCV4
	VERIZON COMMUNICATIONS INC
	Hartford Life and Annuity Insurance Company
	PA2
	27,500
	

	25,618
	

	427
	

	PA292343VCV4

	BHM15X6S1
	HTFD CONCORDVIL   PN Prvt
	Hartford Life and Annuity Insurance Company
	PA2
	(779,068
	)
	(737,203
	)
	 NA
	PA2BHM15X6S1

	BHM1KXMB3
	VIRGINIA INTERNATIONAL GATEWAY INC Prvt
	Hartford Life and Annuity Insurance Company
	PA2
	40,385
	

	38,295
	

	234
	

	PA2BHM1KXMB3

	BHM0MZCQ6
	DESERT SUNLIGHT FUNDING I-GTD Prvt
	Hartford Life and Annuity Insurance Company
	PA2
	84,845
	

	80,493
	

	405
	

	PA2BHM0MZCQ6

	540424AR9
	LOEWS CORPORATION
	Hartford Life and Annuity Insurance Company
	PA2
	275
	

	257
	

	—
	

	PA2540424AR9

	552081AM3
	LYONDELLBASELL INDUSTRIES NV
	Hartford Life and Annuity Insurance Company
	PA2
	650
	

	608
	

	8
	

	PA2552081AM3

	912810RU4
	TREASURY BOND (OTR)
	Hartford Life and Annuity Insurance Company
	PA2
	(2,180,000
	)
	(2,090,160
	)
	 NA
	PA2912810RU4

	912828U57
	TREASURY NOTE (OLD)
	Hartford Life and Annuity Insurance Company
	PA2
	(560,000
	)
	(540,662
	)
	 NA
	PA2912828U57

	3132WEB43
	MBS
	Hartford Life and Annuity Insurance Company
	PA2
	(806,834
	)
	(778,891
	)
	 NA
	PA23132WEB43

	3132WED25
	MBS
	Hartford Life and Annuity Insurance Company
	PA2
	(1,545,382
	)
	(1,492,102
	)
	 NA
	PA23132WED25

	3138WG5Q3
	MBS
	Hartford Life and Annuity Insurance Company
	PA2
	(3,451,412
	)
	(3,333,671
	)
	 NA
	PA23138WG5Q3

	3138WHFN7
	MBS
	Hartford Life and Annuity Insurance Company
	PA2
	(579,307
	)
	(559,549
	)
	 NA
	PA23138WHFN7

	3140F5QW6
	MBS
	Hartford Life and Annuity Insurance Company
	PA2
	(796,465
	)
	(769,313
	)
	 NA
	PA23140F5QW6

	3138WHFR8
	MBS
	Hartford Life and Annuity Insurance Company
	PA2
	(1,941,001
	)
	(1,874,833
	)
	 NA
	PA23138WHFR8

	3140F5MJ9
	MBS
	Hartford Life and Annuity Insurance Company
	PA2
	(118,161
	)
	(114,134
	)
	 NA
	PA23140F5MJ9

	969457BU3
	WILLIAMS COS INC
	Hartford Life and Annuity Insurance Company
	PA2
	(322,000
	)
	(314,353
	)
	 NA
	PA2969457BU3

	912828U65
	TREASURY NOTE (OLD)
	Hartford Life and Annuity Insurance Company
	PA2
	(560,000
	)
	(542,566
	)
	 NA
	PA2912828U65

	05565QCD8
	BP CAPITAL MARKETS PLC
	Hartford Life and Annuity Insurance Company
	PA2
	250
	

	242
	

	—
	

	PA205565QCD8

	92343VCM4
	VERIZON COMMUNICATIONS INC
	Hartford Life and Annuity Insurance Company
	PA2
	895
	

	853
	

	12
	

	PA292343VCM4

	BHM1ANBZ5
	VERIZON CORPORATE SERVICES GROUP I Prvt
	Hartford Life and Annuity Insurance Company
	PA2
	(246,445
	)
	(239,391
	)
	 NA
	PA2BHM1ANBZ5

	BHM13T3U0
	HTFD ELEMENT AT   PN Prvt
	Hartford Life and Annuity Insurance Company
	PA2
	(852,454
	)
	(830,687
	)
	 NA
	PA2BHM13T3U0

	260543CG6
	DOW CHEMICAL COMPANY (THE)
	Hartford Life and Annuity Insurance Company
	PA2
	435
	

	416
	

	1
	

	PA2260543CG6

	
											
	76112B2D1
	RAMP_06-RS2    A3A
	Hartford Life and Annuity Insurance Company
	PA2
	(442,353
	)
	(432,979
	)
	 NA
	PA276112B2D1

	912828T59
	TREASURY NOTE (2OLD)
	Hartford Life and Annuity Insurance Company
	PA2
	(310,000
	)
	(304,163
	)
	 NA
	PA2912828T59

	BHM0LCEA1
	BASIN ELECTRIC POWER COOPERATIVE I Prvt
	Hartford Life and Annuity Insurance Company
	PA2
	(778,600
	)
	(764,072
	)
	 NA
	PA2BHM0LCEA1

	718549AE8
	PHILLIPS 66 PARTNERS LP
	Hartford Life and Annuity Insurance Company
	PA2
	110
	

	108
	

	1
	

	PA2718549AE8

	12665UAA2
	CVS PASSTHROUGH TRUST      144A
	Hartford Life and Annuity Insurance Company
	PA2
	(17,282
	)
	(16,867
	)
	 NA
	PA212665UAA2

	81745DAE1
	SEMT_13-9       A1 144A
	Hartford Life and Annuity Insurance Company
	PA2
	(2,326,394
	)
	(2,295,406
	)
	 NA
	PA281745DAE1

	BHM0RMP52
	HTFD LIT IX WHL   PN Prvt
	Hartford Life and Annuity Insurance Company
	PA2
	(45,783
	)
	(45,413
	)
	 NA
	PA2BHM0RMP52

	50077LAM8
	KRAFT HEINZ FOODS CO
	Hartford Life and Annuity Insurance Company
	PA2
	100
	

	99
	

	2
	

	PA250077LAM8

	25470XAE5
	DISH DBS CORP
	Hartford Life and Annuity Insurance Company
	PA2
	(1,807,000
	)
	(1,804,741
	)
	 NA
	PA225470XAE5

	591894CB4
	METROPOLITAN EDISON COMPANY 144A
	Hartford Life and Annuity Insurance Company
	PA2
	525
	

	524
	

	2
	

	PA2591894CB4

	681919AZ9
	OMNICOM GROUP INC
	Hartford Life and Annuity Insurance Company
	PA2
	700
	

	699
	

	2
	

	PA2681919AZ9

	BHM03GBH0
	NJNGC FIRST MORTGAGE BONDS Prvt
	Hartford Life and Annuity Insurance Company
	PA2
	(10,000,000
	)
	(10,000,000
	)
	 NA
	PA2BHM03GBH0

	BHM0MN8Z8
	HTFD GAEDEKE PO   PN Prvt
	Hartford Life and Annuity Insurance Company
	PA2
	(481,209
	)
	(482,031
	)
	 NA
	PA2BHM0MN8Z8

	32027NVV0
	FFML_05-FF9     A4
	Hartford Life and Annuity Insurance Company
	PA2
	(559,822
	)
	(562,541
	)
	 NA
	PA232027NVV0

	BHM15T4C7
	HTFD ENCLAVE AT   PN Prvt
	Hartford Life and Annuity Insurance Company
	PA2
	(600,470
	)
	(603,572
	)
	 NA
	PA2BHM15T4C7

	14149YBD9
	CARDINAL HEALTH INC
	Hartford Life and Annuity Insurance Company
	PA2
	625
	

	604
	

	6
	

	PA214149YBD9

	209111FK4
	CONSOLIDATED EDISON COMPANY OF NEW
	Hartford Life and Annuity Insurance Company
	PA2
	500
	

	495
	

	10
	

	PA2209111FK4

	80282KAE6
	SANTANDER HOLDINGS USA INC
	Hartford Life and Annuity Insurance Company
	PA2
	750
	

	748
	

	12
	

	PA280282KAE6

	882484AA6
	TEXAS HEALTH RESOURCES
	Hartford Life and Annuity Insurance Company
	PA2
	25
	

	25
	

	—
	

	PA2882484AA6

	12626PAJ2
	CRH AMERICA INC.
	Hartford Life and Annuity Insurance Company
	PA2
	(5,000,000
	)
	(5,033,552
	)
	 NA
	PA212626PAJ2

	BHM0L66Z8
	HTFD GRI-REGENC   PN Prvt
	Hartford Life and Annuity Insurance Company
	PA2
	(853,637
	)
	(863,720
	)
	 NA
	PA2BHM0L66Z8

	BHM0L6753
	HTFD GRI-REGENC   PN Prvt
	Hartford Life and Annuity Insurance Company
	PA2
	(609,741
	)
	(618,230
	)
	 NA
	PA2BHM0L6753

	BHM04XRH5
	FOOTBALL TRUST IV Prvt
	Hartford Life and Annuity Insurance Company
	PA2
	(4,130,435
	)
	(4,176,971
	)
	 NA
	PA2BHM04XRH5

	BHM0KTWD9
	HTFD AQUATERA A   PN Prvt
	Hartford Life and Annuity Insurance Company
	PA2
	(938,094
	)
	(952,647
	)
	 NA
	PA2BHM0KTWD9

	66989HAK4
	NOVARTIS CAPITAL CORP
	Hartford Life and Annuity Insurance Company
	PA2
	2,775
	

	2,788
	

	2
	

	PA266989HAK4

	212015AH4
	CONTINENTAL RESOURCES INC
	Hartford Life and Annuity Insurance Company
	PA2
	(405,000
	)
	(412,141
	)
	 NA
	PA2212015AH4

	BHM0JB0A1
	HTFD AMB INDUST   PN Prvt
	Hartford Life and Annuity Insurance Company
	PA2
	(262,019
	)
	(267,100
	)
	 NA
	PA2BHM0JB0A1

	125581GQ5
	CIT GROUP INC
	Hartford Life and Annuity Insurance Company
	PA2
	(545,000
	)
	(554,200
	)
	 NA
	PA2125581GQ5

	BHM0JEJL1
	HTFD REGENCY PO   PN Prvt
	Hartford Life and Annuity Insurance Company
	PA2
	(238,304
	)
	(243,803
	)
	 NA
	PA2BHM0JEJL1

	BHM0JEJN7
	HTFD REGENCY PO   PN Prvt
	Hartford Life and Annuity Insurance Company
	PA2
	(877,418
	)
	(899,103
	)
	 NA
	PA2BHM0JEJN7

	853496AB3
	STANDARD INDUSTRIES INC    144A
	Hartford Life and Annuity Insurance Company
	PA2
	(339,000
	)
	(344,933
	)
	 NA
	PA2853496AB3

	87264AAL9
	T-MOBILE USA INC
	Hartford Life and Annuity Insurance Company
	PA2
	(7,598,000
	)
	(7,849,722
	)
	 NA
	PA287264AAL9

	BHM0JEHH2
	HTFD REGENCY PO   PN Prvt
	Hartford Life and Annuity Insurance Company
	PA2
	(242,120
	)
	(250,402
	)
	 NA
	PA2BHM0JEHH2

	482480AE0
	KLA-TENCOR CORPORATION
	Hartford Life and Annuity Insurance Company
	PA2
	725
	

	755
	

	2
	

	PA2482480AE0

	
											
	98417EAR1
	GLENCORE FINANCE CANADA LTD 144A
	Hartford Life and Annuity Insurance Company
	PA2
	850
	

	849
	

	4
	

	PA298417EAR1

	375558BD4
	GILEAD SCIENCES INC
	Hartford Life and Annuity Insurance Company
	PA2
	250
	

	259
	

	3
	

	PA2375558BD4

	55336VAJ9
	MPLX LP
	Hartford Life and Annuity Insurance Company
	PA2
	625
	

	646
	

	15
	

	PA255336VAJ9

	BHM0H7EB5
	TRANSWESTERN PIPELINE CO SENIOR Prvt
	Hartford Life and Annuity Insurance Company
	PA2
	(5,000,000
	)
	(5,178,771
	)
	 NA
	PA2BHM0H7EB5

	035242AN6
	ANHEUSER-BUSCH INBEV FINANCE INC
	Hartford Life and Annuity Insurance Company
	PA2
	440
	

	454
	

	7
	

	PA2035242AN6

	63938CAD0
	NAVIENT CORP
	Hartford Life and Annuity Insurance Company
	PA2
	(361,000
	)
	(374,989
	)
	 NA
	PA263938CAD0

	92826CAF9
	VISA INC
	Hartford Life and Annuity Insurance Company
	PA2
	80
	

	83
	

	2
	

	PA292826CAF9

	190760HT8
	COBB-MARIETTA GA COLISEUM & EX
	Hartford Life and Annuity Insurance Company
	PA2
	775
	

	807
	

	14
	

	PA2190760HT8

	496902AN7
	KINROSS GOLD CORP
	Hartford Life and Annuity Insurance Company
	PA2
	(357,000
	)
	(369,495
	)
	 NA
	PA2496902AN7

	4520015Y2
	ILLINOIOS ED FACS AUTH REVS
	Hartford Life and Annuity Insurance Company
	PA2
	1,800
	

	1,885
	

	41
	

	PA24520015Y2

	BHM014GK7
	DODGER TICKETS LLC SER A SR SEC Prvt
	Hartford Life and Annuity Insurance Company
	PA2
	(1,533,927
	)
	(1,614,343
	)
	 NA
	PA2BHM014GK7

	521865AX3
	LEAR CORP
	Hartford Life and Annuity Insurance Company
	PA2
	315
	

	330
	

	6
	

	PA2521865AX3

	278058AK8
	EATON CORP
	Hartford Life and Annuity Insurance Company
	PA2
	375
	

	396
	

	15
	

	PA2278058AK8

	BHM01J674
	WELLS FARGO-WACHOVIA BANK  Prvt
	Hartford Life and Annuity Insurance Company
	PA2
	(1,100,084
	)
	(1,168,639
	)
	 NA
	PA2BHM01J674

	347382AA1
	FORT GORDON GA MILITARY HSG 144A
	Hartford Life and Annuity Insurance Company
	PA2
	825
	

	913
	

	2
	

	PA2347382AA1

	BHM01JC69
	UBS 733 THIRD A   PN Prvt
	Hartford Life and Annuity Insurance Company
	PA2
	(708,459
	)
	(770,973
	)
	 NA
	PA2BHM01JC69

	BHM01NWT8
	UBS 605 3RD AVE   PN Prvt
	Hartford Life and Annuity Insurance Company
	PA2
	(746,423
	)
	(813,254
	)
	 NA
	PA2BHM01NWT8

	752123JH3
	RANCHO CUCAMONGA  REDEV TAX ALLOC
	Hartford Life and Annuity Insurance Company
	PA2
	100
	

	109
	

	1
	

	PA2752123JH3

	718846AM0
	PHOENIX AZ CIVIC IMP RENT CAR FGIC
	Hartford Life and Annuity Insurance Company
	PA2
	1,700
	

	1,860
	

	42
	

	PA2718846AM0

	67704LAA9
	OGLETHORPE PWR CORP GA 1ST MTG 144A
	Hartford Life and Annuity Insurance Company
	PA2
	50,000
	

	54,895
	

	1,114
	

	PA267704LAA9

	134011AJ4
	CAMP PENDLETON/QUANTICO    144A
	Hartford Life and Annuity Insurance Company
	PA2
	850
	

	946
	

	7
	

	PA2134011AJ4

	949746RF0
	WELLS FARGO & COMPANY
	Hartford Life and Annuity Insurance Company
	PA2
	630
	

	694
	

	13
	

	PA2949746RF0

	BHM02H3Y1
	NEW CARDINALS STADIUM LLC  Prvt
	Hartford Life and Annuity Insurance Company
	PA2
	(548,702
	)
	(610,517
	)
	 NA
	PA2BHM02H3Y1

	24668PAE7
	KONINKLIJKE AHOLD DELHAIZE NV
	Hartford Life and Annuity Insurance Company
	PA2
	665
	

	735
	

	6
	

	PA224668PAE7

	126408GU1
	CSX CORP
	Hartford Life and Annuity Insurance Company
	PA2
	535
	

	596
	

	3
	

	PA2126408GU1

	694308GK7
	PACIFIC GAS & ELECTRIC CO
	Hartford Life and Annuity Insurance Company
	PA2
	625
	

	712
	

	9
	

	PA2694308GK7

	15135UAF6
	CENOVUS ENERGY INC
	Hartford Life and Annuity Insurance Company
	PA2
	(9,850,000
	)
	(11,277,541
	)
	 NA
	PA215135UAF6

	136055AA8
	CANADIAN IMPERIAL BANK OF COMMERCE 144A
	Hartford Life and Annuity Insurance Company
	PA2
	9,737
	

	11,149
	

	90
	

	PA2136055AA8

	586054AA6
	MEMORIAL SLOAN-KETTERING CANCER CT
	Hartford Life and Annuity Insurance Company
	PA2
	165
	

	190
	

	3
	

	PA2586054AA6

	21684AAB2
	RABOBANK NEDERLAND
	Hartford Life and Annuity Insurance Company
	PA2
	975
	

	1,120
	

	27
	

	PA221684AAB2

	68389XAM7
	ORACLE CORPORATION
	Hartford Life and Annuity Insurance Company
	PA2
	500
	

	583
	

	10
	

	PA268389XAM7

	49337WAJ9
	KEYSPAN CORP
	Hartford Life and Annuity Insurance Company
	PA2
	500
	

	583
	

	4
	

	PA249337WAJ9

	976657AG1
	WISCONSIN ENERGY CORP
	Hartford Life and Annuity Insurance Company
	PA2
	525
	

	611
	

	5
	

	PA2976657AG1

	724060AA6
	PIPELINE FUNDING COMPANY LLC 144A
	Hartford Life and Annuity Insurance Company
	PA2
	3
	

	4
	

	—
	

	PA2724060AA6

	
											
	626207YS7
	GEORGIA MUN ELEC AUTH
	Hartford Life and Annuity Insurance Company
	PA2
	68,180
	

	81,127
	

	735
	

	PA2626207YS7

	143658AH5
	CARNIVAL CORPORATION
	Hartford Life and Annuity Insurance Company
	PA2
	270
	

	320
	

	7
	

	PA2143658AH5

	199575AV3
	COLUMBUS SOUTHERN POWER CO
	Hartford Life and Annuity Insurance Company
	PA2
	525
	

	621
	

	5
	

	PA2199575AV3

	048677AG3
	ATLANTIC MARINE CORPS COMMUNITIES 144A
	Hartford Life and Annuity Insurance Company
	PA2
	674
	

	802
	

	20
	

	PA2048677AG3

	136385AL5
	CANADIAN NATURAL RESOURCES LIMITED
	Hartford Life and Annuity Insurance Company
	PA2
	500
	

	602
	

	6
	

	PA2136385AL5

	71644EAF9
	PETRO-CANADA
	Hartford Life and Annuity Insurance Company
	PA2
	575
	

	688
	

	1
	

	PA271644EAF9

	BHM042GE2
	CONSOLIDATED EDISON INC    Prvt
	Hartford Life and Annuity Insurance Company
	PA2
	(94,592
	)
	(113,193
	)
	 NA
	PA2BHM042GE2

	61980AAD5
	MOTIVA ENTERPRISES LLC     144A
	Hartford Life and Annuity Insurance Company
	PA2
	25
	

	30
	

	1
	

	PA261980AAD5

	56585AAF9
	MARATHON PETROLEUM CORP
	Hartford Life and Annuity Insurance Company
	PA2
	275
	

	330
	

	4
	

	PA256585AAF9

	459200GS4
	INTERNATIONAL BUSINESS MACHINES CO
	Hartford Life and Annuity Insurance Company
	PA2
	825
	

	989
	

	23
	

	PA2459200GS4

	36186CBY8
	ALLY FINANCIAL INC
	Hartford Life and Annuity Insurance Company
	PA2
	(557,000
	)
	(668,400
	)
	 NA
	PA236186CBY8

	887315AM1
	HISTORIC TW INC
	Hartford Life and Annuity Insurance Company
	PA2
	75
	

	91
	

	2
	

	PA2887315AM1

	626207YF5
	GEORGIA MUN ELEC AUTH PWR REV
	Hartford Life and Annuity Insurance Company
	PA2
	300
	

	372
	

	3
	

	PA2626207YF5

	25272KAR4
	DIAMOND 1 FINANCE CORPORATION/DIAM 144A
	Hartford Life and Annuity Insurance Company
	PA2
	130
	

	158
	

	4
	

	PA225272KAR4

	71644EAE2
	PETRO-CANADA
	Hartford Life and Annuity Insurance Company
	PA2
	350
	

	430
	

	12
	

	PA271644EAE2

	90131HAX3
	21ST CENTURY FOX AMERICA INC
	Hartford Life and Annuity Insurance Company
	PA2
	570
	

	696
	

	3
	

	PA290131HAX3

	79765RTK5
	SAN FRANCISCO CA CITY & CNTY WTR
	Hartford Life and Annuity Insurance Company
	PA2
	650
	

	805
	

	3
	

	PA279765RTK5

	743917AH9
	PRUDENTIAL INSURANCE CO OF AMERICA 144A
	Hartford Life and Annuity Insurance Company
	PA2
	550
	

	686
	

	18
	

	PA2743917AH9

	11041RAL2
	BRITISH AEROSPACE FINANCE INC. 144A
	Hartford Life and Annuity Insurance Company
	PA2
	500
	

	621
	

	15
	

	PA211041RAL2

	149123BN0
	CATERPILLAR INC
	Hartford Life and Annuity Insurance Company
	PA2
	750
	

	946
	

	13
	

	PA2149123BN0

	00817YAF5
	AETNA INC
	Hartford Life and Annuity Insurance Company
	PA2
	800
	

	998
	

	24
	

	PA200817YAF5

	656531AJ9
	STATOILHYDRO ASA
	Hartford Life and Annuity Insurance Company
	PA2
	475
	

	603
	

	12
	

	PA2656531AJ9

	880451AU3
	TENNESSEE GAS PIPELINE CO
	Hartford Life and Annuity Insurance Company
	PA2
	500
	

	627
	

	6
	

	PA2880451AU3

	207597DV4
	CONNECTICUT LIGHT AND POWER CO
	Hartford Life and Annuity Insurance Company
	PA2
	750
	

	954
	

	23
	

	PA2207597DV4

	665772CB3
	NORTHERN STATES POWER COMPANY (MIN
	Hartford Life and Annuity Insurance Company
	PA2
	500
	

	642
	

	15
	

	PA2665772CB3

	037411AM7
	APACHE CORPORATION
	Hartford Life and Annuity Insurance Company
	PA2
	475
	

	617
	

	10
	

	PA2037411AM7

	02765UDN1
	AMERICAN MUN PWR OHIO INC
	Hartford Life and Annuity Insurance Company
	PA2
	725
	

	942
	

	12
	

	PA202765UDN1

	167725AF7
	CHICAGO ILL TRAN AUTH
	Hartford Life and Annuity Insurance Company
	PA2
	1,725
	

	2,245
	

	58
	

	PA2167725AF7

	172967AS0
	CITIGROUP INC
	Hartford Life and Annuity Insurance Company
	PA2
	500
	

	651
	

	10
	

	PA2172967AS0

	097023AS4
	BOEING COMPANY
	Hartford Life and Annuity Insurance Company
	PA2
	365
	

	491
	

	7
	

	PA2097023AS4

	915217RY1
	UNIVERSITY VA
	Hartford Life and Annuity Insurance Company
	PA2
	695
	

	940
	

	10
	

	PA2915217RY1

	695114BT4
	PACIFICORP
	Hartford Life and Annuity Insurance Company
	PA2
	500
	

	683
	

	1
	

	PA2695114BT4

	902133AG2
	TYCO ELECTRONICS GROUP SA
	Hartford Life and Annuity Insurance Company
	PA2
	750
	

	1,016
	

	8
	

	PA2902133AG2

	25156PAC7
	DEUTSCHE TELEKOM INTL FIN
	Hartford Life and Annuity Insurance Company
	PA2
	250
	

	345
	

	10
	

	PA225156PAC7

	
											
	740816AG8
	PRESIDENT AND FELLOWS OF HARVARD 144A
	Hartford Life and Annuity Insurance Company
	PA2
	75
	

	104
	

	2
	

	PA2740816AG8

	233835AQ0
	DAIMLERCHRYSLER NORTH AMERICA HLDG
	Hartford Life and Annuity Insurance Company
	PA2
	395
	

	560
	

	12
	

	PA2233835AQ0

	111021AE1
	BRITISH TELECOMMUNICATIONS PLC
	Hartford Life and Annuity Insurance Company
	PA2
	475
	

	679
	

	19
	

	PA2111021AE1

	03523TBF4
	ANHEUSER-BUSCH INBEV WORLDWIDE INC
	Hartford Life and Annuity Insurance Company
	PA2
	310
	

	449
	

	9
	

	PA203523TBF4

	097023AE5
	BOEING COMPANY
	Hartford Life and Annuity Insurance Company
	PA2
	925
	

	1,362
	

	16
	

	PA2097023AE5

	13063BJC7
	STATE OF CALIFORNIA
	Hartford Life and Annuity Insurance Company
	PA2
	3,025
	

	4,566
	

	16
	

	PA213063BJC7

	91913YAP5
	VALERO ENERGY CORP
	Hartford Life and Annuity Insurance Company
	PA2
	575
	

	944
	

	12
	

	PA291913YAP5

	55608PAA2
	MACQUARIE BANK LTD         144A
	Hartford Life and Annuity Insurance Company
	PA2
	(3,000,000
	)
	(3,000,000
	)
	 NA
	PA255608PAA2

	62718QAA3
	MURRAY STREET INVESTMENT TRUST I
	Hartford Life and Annuity Insurance Company
	PA2
	(3,000,000
	)
	(3,000,000
	)
	 NA
	PA262718QAA3

	BHM02SKS1
	GALLAGHER ARTHUR J. & CO. - B Prvt
	Hartford Life and Annuity Insurance Company
	PA2
	(5,000,000
	)
	(5,000,000
	)
	 NA
	PA2BHM02SKS1

	44891AAA5
	HYUNDAI CAPITAL AMERICA    144A
	Hartford Life and Annuity Insurance Company
	PA2
	(6,000,000
	)
	(6,000,000
	)
	 NA
	PA244891AAA5

	26250JAJ9
	DRSLF_12-25A   B1R 144A
	Hartford Life and Annuity Insurance Company
	PA2
	(4,250,000
	)
	(4,250,000
	)
	 NA
	PA226250JAJ9

	26250JAL4
	DRSLF_12-25A   B2R 144A
	Hartford Life and Annuity Insurance Company
	PA2
	(1,750,000
	)
	(1,750,000
	)
	 NA
	PA226250JAL4

	70069FDL8
	PPSI_04-WWF1    M3
	Hartford Life and Annuity Insurance Company
	PA2
	(11,157,473
	)
	(11,157,473
	)
	 NA
	PA270069FDL8

	004421PR8
	ACE_05-HE4      M2
	Hartford Life and Annuity Insurance Company
	PA2
	(4,332,441
	)
	(4,332,441
	)
	 NA
	PA2004421PR8

	07388YAG7
	BSCMS_07-PW16     AM
	Hartford Life and Annuity Insurance Company
	PA2
	(2,100,000
	)
	(2,100,000
	)
	 NA
	PA207388YAG7

	93364LAD0
	WMCMS_07-SL3    AJ 144A
	Hartford Life and Annuity Insurance Company
	PA2
	(4,998,062
	)
	(4,998,062
	)
	 NA
	PA293364LAD0

	93364LAE8
	WMCMS_07-SL3     B 144A
	Hartford Life and Annuity Insurance Company
	PA2
	(5,000,000
	)
	(5,000,000
	)
	 NA
	PA293364LAE8

EXHIBIT A
BENEFICIARY REQUEST FOR WITHDRAWAL
The undersigned, the [insert position] and [insert position], each a duly authorized officer of Hartford Life and Annuity Insurance Company (“Beneficiary”), do hereby certify that, pursuant to Section 2 of the Trust Agreement dated as of [  ], 2018, entered into by and among Beneficiary, Commonwealth Annuity and Life Insurance Company (“Commonwealth”) and The Bank of New York Mellon (the “Trustee”) (the “Trust Agreement”) and the Annuity Reinsurance Agreement dated as of [  ], 2018, between Beneficiary and Commonwealth (the “Reinsurance Agreement”), Beneficiary is entitled to withdraw from the Trust Account (as defined in the Trust Agreement) established by Commonwealth for the benefit of Beneficiary pursuant to the Trust Agreement, Assets with a current fair market value equal to $[_______] for the purpose[s] specified in Section 9.8(a)  of the Reinsurance Agreement.
[Certification to specify the basis for the withdrawal.]
Beneficiary hereby requests that the Trustee immediately transfer to Beneficiary all right, title and interest in those Assets set forth on Schedule A attached hereto (which Assets have a fair market value equal to $[_____]) from the Trust Account established by Commonwealth for  the benefit of Beneficiary pursuant to the Trust Agreement. [Insert transfer instructions.]  
[If Bank Loans-[The Trustee is instructed to deliver to the Beneficiary the Loan Assignment Documents applicable to Loan No. ____________]  OR [The Trustee is instructed to endorse, date and transfer the applicable Loan Assignment Documents or other transfer documents attached hereto to the Beneficiary]].

This Certificate is a “Beneficiary Request for Withdrawal” within the meaning of Section 2(a) of the Trust Agreement.
Please notify the Grantor within two (2) Business Days of delivery of the withdrawn Assets.
	
		
	 
	HARTFORD LIFE AND ANNUITY INSURANCE COMPANY

	 
	 

	 
	 

	Dated:
	 

	 
	Name:

	 
	Title:

	 
	 

	 
	 

	Dated:
	 

	 
	Name:

	 
	Title:

cc: Grantor

EXHIBIT B
GRANTOR REQUEST FOR WITHDRAWAL
The undersigned, the [insert position] and a duly authorized officer of Commonwealth Annuity and Life Insurance Company (“Commonwealth”), does hereby request that, pursuant to Section 2 of the Trust Agreement dated as of [___], 2018, entered into by and among Hartford Life and Annuity Insurance Company (“Beneficiary”), Commonwealth and The Bank of New York Mellon (the “Trustee”) (the “Trust Agreement”) and the Annuity Reinsurance Agreement dated as of [___], 2018, between Beneficiary and Commonwealth (the “Reinsurance Agreement”), Commonwealth withdraw from the Trust Account (as defined in the Trust Agreement) established by Commonwealth for the benefit of Beneficiary pursuant to the Trust Agreement, Assets with a current fair market value equal to $[_____]. 
[Commonwealth hereby directs the Trustee to immediately deliver to Beneficiary cash in the amount of $[_____].  Commonwealth hereby attaches a copy of the applicable Monthly Reinsurance Settlement Report and hereby certifies that the conditions described in Section 9.6 of the Reinsurance Agreement and Section 2(d)(i) of the Trust Agreement have been met.] [Note:  for use if the proviso set forth in Section 9.6 applies.]
[Commonwealth hereby directs the Trustee to deliver to [Commonwealth or its designee] [the Assets specified below] [and] [cash in the amount of $[_____], immediately following the fifth (5th) Business Day after the date hereof unless Beneficiary shall have objected to such withdrawal in writing within such five (5) Business Day period.] [Note:  for use if the proviso set forth in Section 9.6 does not apply.]
[Insert transfer instructions]
This Certificate is a “Grantor Request for Withdrawal” within the meaning of Section 2(c) of the Trust Agreement.
Please notify the Beneficiary within two (2) Business Days of delivery of the withdrawn Assets.
	
		
	 
	COMMONWEALTH ANNUITY AND LIFE INSURANCE COMPANY

	 
	 

	 
	 

	Dated:
	 

	 
	Name:

	 
	Title:

With copy to:  [Note:  for use if the proviso set forth in Section 9.6 does not apply.]
Hartford Life and Annuity Insurance Company
[Address]
Facsimile:
Attention:

EXHIBIT C

PROVISIONS OF THE REINSURANCE AGREEMENT
Set forth below is the text of the provisions of the Reinsurance Agreement that are referenced in this Agreement.
Section 8.1.  
Recapture Events.  Each of the following shall constitute a “Recapture Event”:
(a)     (i) the Reinsurer ceases to or fails to be solvent, or generally fails to pay, or admits in writing its inability to pay, its debt as they become due, subject to applicable grace periods, (ii) the Reinsurer initiates or commences the appointment of a receiver, trustee, custodian, conservator, liquidator, mortgagee in possession (or agent therefor), or other similar Person for itself or for all or substantially all of its assets, (iii) the Reinsurer becomes subject to any liquidation, insolvency, rehabilitation, conservation, supervision or similar proceeding against the Reinsurer by a Governmental Authority having jurisdiction over the Reinsurer, or (iv) the Reinsurer takes any action to effectuate or authorize any of the foregoing;
(b)     (A) the Reinsurer fails to (1) fund the Trust Account for any amounts not subject to a good faith dispute that are required to be deposited therein by the Reinsurer in accordance with Section 9.5 and with the terms of the Trust Agreement, or (2) perform or observe any of the material terms and conditions of this Agreement or the Trust Agreement, including a failure to pay the Company any amount due under this Agreement that is not subject to a good faith dispute; and (B) any such failure continues for twenty (20) Business Days after the date on which the Reinsurer becomes aware of such failure, including, but not limited to, the date on which the Company notifies the Reinsurer in writing of such failure, it being understood that a breach by the Reinsurer of Section 14.1 or Section 14.2, or any representation or warranty contained in this Agreement shall not constitute a Recapture Event; 
(c)    with respect to a recapture of solely the Reinsured Contracts retroceded to the Retrocessionaire, if applicable and if any, the Retrocessionaire fails to perform or observe any of the material terms and conditions of the Retrocession Trust Agreement and such failure continues for twenty (20) Business Days after the expiration of any applicable cure period in the Retrocession Trust Agreement;
(d)    a Reinsurance Credit Event continues for the lesser of (x) ninety (90) calendar days and (y) the period from inception of such Reinsurance Credit Event to the “as of” date of the Company’s next statutory financial statement, and the Reinsurer has not taken action which would enable the Company to receive full statutory financial statement credit for reinsurance ceded to the Reinsurer under this Agreement, and the Company has acted in compliance with its obligations under Section 17.1(c); or
(e)    (i) the Reinsurer’s RBC Ratio is below [REDACTED] in any quarterly period and (ii) the Reinsurer has not within thirty (30) calendar days of such shortfall provided the Company with evidence reasonably satisfactory to the Company that the Reinsurer has either (i) restored its RBC Ratio to [REDACTED] or (ii) entered into a letter of intent whereby the Reinsurer and an affiliated insurance company agree to effect a novation causing this Agreement to be novated to such an affiliated insurance company that has capital in excess of [REDACTED] and an RBC Ratio (or the local equivalent if not a U.S. entity) in excess of [REDACTED], subject only to obtaining any required regulatory and third party consents.  Such affiliated insurance company must either be authorized in the domiciliary state of the Company (provided that such domiciliary state is a jurisdiction with substantially similar requirements as the Company’s domiciliary state 

as of the Closing Date) or provide collateral, sufficient to provide the Company full financial statement credit, in accordance with the credit for reinsurance requirements of the domiciliary state of the Company (provided that such domiciliary state is a jurisdiction with substantially similar requirements as the Company’s domiciliary state as of the Closing Date). If regulatory and third party consents are not obtained within thirty (30) calendar days of the date of the letter of intent, then the Company may immediately recapture the Reinsured Contracts.
Each calendar quarter, the Reinsurer shall provide to the Company the RBC Ratio of the Reinsurer calculated in accordance with then Applicable Law and Schedule H, (i) based on the Reinsurer’s good faith estimate as of the last day of such calendar quarter (other the last quarter of a calendar year), using, to the extent any factors are not reasonably available, hypothetical amounts derived from reasonable estimation and annualization or (ii) calculated by the Reinsurer as of such calendar year, as applicable.  Each such calculation shall include reasonable supporting detail with respect to such calculation.
The Reinsurer will notify the Company promptly in writing, in reasonable detail, of any Recapture Event or any event or circumstance it becomes aware of that, with the giving of notice or the passage of time, would reasonably be expected to constitute a Recapture Event.  The Company will notify the Reinsurer promptly in writing, in reasonable detail, upon becoming aware of a Recapture Event or any event or circumstance that, with the giving of notice or the passage of time, would reasonably be expected to constitute such a Recapture Event.
Section 9.5.  
Rebalancing the Trust Account.  If the Trust Account Balance as of the end of any calendar month after the Closing Date is less than (x) the Required Balance as set forth in the statement contemplated by Section 6.2(b) for such calendar month, minus if applicable, amounts withdrawn by the Company in accordance with Section 9.8 that are subject to a good faith dispute, provided that such reduction shall only be permitted to the extent that such disputed amount has not already been reflected in the NAIC Reserves incorporated in the Required Balance, minus (y) if applicable, the Retrocession Trust Account Balance (if any) as set forth in such statement, then, unless such shortfall shall have been cured by assets deposited into the Retrocession Trust Account, the Reinsurer shall deposit additional Eligible Trust Account Assets into the Trust Account within fifteen (15) Business Days following the date such shortfall is determined so that the Trust Account Balance is no less than the Required Balance set forth in such statement, minus if applicable, amounts withdrawn by the Company in accordance with Section 9.8 that are subject to a good faith dispute, provided that such reduction shall only be permitted to the extent that such disputed amount has not already been reflected in the NAIC Reserves incorporated in the Required Balance, minus if applicable, the Retrocession Trust Account Balance (if any) set forth in such statement; provided, however, that as of and after the occurrence of a Reinsurance Credit Event and provided that a statutory trust is put in place to secure reinsurance credit in accordance with Section 17.1, for purposes of any provision of this Agreement, if applicable, the Retrocession Trust Account Balance shall not be subtracted for purposes of the calculations under the preceding sentence other than, if applicable, amounts withdrawn by the Company in accordance with Section 9.8 that are subject to a good faith dispute, provided that such reduction shall only be permitted to the extent that such disputed amount has not already been reflected in the NAIC Reserves incorporated in the Required Balance.  Without limiting the foregoing, if an asset in the Trust Account no longer qualifies as an Eligible Trust Account Asset, then, within fifteen (15) Business Days following the date on which the Reinsurer becomes aware of such circumstance, the Reinsurer shall replace such asset with one or more Eligible Trust Account Assets in accordance with Section 9.7.  Notwithstanding the foregoing, should any asset in the Trust Account become impaired under SAP the Reinsurer shall, as promptly as practicable but in no event later than five (5) Business Days following the date on which the Reinsurer becomes aware of such circumstances, deposit or substitute additional assets constituting Eligible Trust Account Assets in 

accordance with this Section 9.5 or Section 9.7, to the extent required such that the Trust Account Balance is no less than the balance required as of the end of the month preceding the month in which the impairment occurred. 
Section 9.6.  
Trust Account Withdrawals.  If, as of any month end on and after the Closing Date, (x) the Trust Account Balance exceeds the Required Balance, minus if applicable, amounts withdrawn by the Company in accordance with Section 9.8 that are subject to a good faith dispute, provided that such reduction shall only be permitted to the extent that such disputed amount has not already been reflected in the NAIC Reserves incorporated in the Required Balance, minus (y) if applicable, the Retrocession Trust Account Balance (if any), then within ten (10) Business Days after the Reinsurer’s receipt of a Monthly Reinsurance Settlement Report for such month end, the Reinsurer may make a written demand to the Trustee to release to the Reinsurer assets in the Trust Account and the Trustee shall release such assets, subject to the Company’s prior written consent, which consent shall be granted if all of the following conditions and those set forth in clause (x) above are satisfied after any such withdrawal and shall be deemed granted if the Company has not provided the Reinsurer and Trustee a written response within five (5) Business Days of receipt of Reinsurer’s written demand: (a) no Recapture Event has occurred and is continuing (unless a recapture in respect of such Recapture Event is no longer exercisable); (b) the Book Value, including accrued interest for so long as such interest is credited by the Trustee, of the Trust Account assets shall be no less than the Required Balance, minus if applicable, amounts withdrawn by the Company in accordance with Section 9.8 that are subject to a good faith dispute, provided that such reduction shall only be permitted to the extent that such disputed amount has not already been reflected in the NAIC Reserves incorporated in the Required Balance, minus if applicable, the Retrocession Trust Account Balance (if any) after such withdrawal; and (c) all the assets held in the Trust Account after such withdrawal are Eligible Trust Account Assets; provided, however, that with respect to any withdrawal and transfer of cash in connection with the payment by the Reinsurer of an amount specified in a Monthly Reinsurance Settlement Report, if the conditions in (x) and (a) through (c) are all met, the Reinsurer may direct the Trustee to release such cash to the Company without prior notice to or approval by the Company, upon presentation to the Trustee of (i) a copy of the applicable Monthly Reinsurance Settlement Report delivered by the Company to the Reinsurer and (ii) a certification to the Trustee, with a copy to the Company, that such conditions are met.
Section 9.7.  
Substitution of Assets.  The Reinsurer shall have the right to instruct the Trustee to substitute or exchange assets contained within the Trust Account provided that (i) the replacement assets are Eligible Trust Account Assets; (ii) the replacement assets shall be deposited in the Trust Account on the same day of substitution or exchange, (iii) the aggregate Book Value, including accrued interest for so long as such interest is credited by the Trustee, of the replacement assets are at least equal to the aggregate Book Value, including accrued interest for so long as such interest is credited by the Trustee, of the assets being removed from the Trust Account; and (iv) the aggregate Fair Market Value, including accrued interest for so long as such interest is credited by the Trustee, of the replacement assets is at least equal to the aggregate Fair Market Value, including accrued interest for so long as such interest is credited by the Trustee, of the assets being removed from the Trust Account.

Section 9.8(a).  
Permitted Use of Trust Account Assets.
(a)  The Company shall be permitted to withdraw assets from the Trust Account only if (x) a Recapture Event has occurred and is continuing and (y) the Reinsurer has not paid an amount in full that is due and owing to the Company under this Agreement and any applicable payment period respect thereof; and then only for one or more of the following purposes: (1) to pay, or reimburse the Company for, amounts due, but not yet recovered from, the Reinsurer under this Agreement in order to satisfy liabilities of the Reinsurer under this Agreement; and (2) to pay expenses relating to the withdrawal, liquidation or enforcement of legal rights with respect to the Trust Account assets to the extent such amounts are not being disputed by the Reinsurer in good faith.

Form of Monthly Reinsurance Settlement Report.  [see attached]

EXHIBIT D
CERTIFICATION OF WITHDRAWAL
The undersigned, the [insert position] and a duly authorized officer of Commonwealth Annuity and Life Insurance Company (“Commonwealth”), does hereby certify that, pursuant to Section 2 of the Trust Agreement dated as of [___], 2018, entered into by and among Hartford Life and Annuity Insurance Company (“Beneficiary”), Commonwealth and The Bank of New York Mellon (the “Trustee”) (the “Trust Agreement”) and the Annuity Reinsurance Agreement dated as of [___], 2018, between Beneficiary and Commonwealth (the “Reinsurance Agreement”), Commonwealth has withdrawn from the Trust Account (as defined in the Trust Agreement) established by Commonwealth for the benefit of Beneficiary pursuant to the Trust Agreement, Assets with a current fair market value equal to $[_____].  Commonwealth hereby attaches a copy of the applicable Monthly Reinsurance Settlement Report and hereby certifies that the conditions described in Section 9.6 of the Reinsurance Agreement have been met. 
	
		
	 
	COMMONWEALTH ANNUITY AND LIFE INSURANCE COMPANY

	 
	 

	 
	 

	Dated:
	 

	 
	Name:

	 
	Title:

 
EXHIBIT E
CERTIFICATION OF WITHDRAWAL
The undersigned, the [insert position] and a duly authorized officer of Hartford Life and Annuity Insurance Company (“Hartford”), does hereby certify that, pursuant to Section 2 of the Trust Agreement dated as of [___], 2018, entered into by and among [___] (“Grantor”), Hartford and The Bank of New York Mellon (the “Trustee”) (the “Trust Agreement”) and the Annuity Reinsurance Agreement dated as of [___], 2018, between Grantor and Hartford (the “Reinsurance Agreement”), Hartford has withdrawn from the Trust Account (as defined in the Trust Agreement) established by Grantor for its benefit pursuant to the Trust Agreement, Assets with a current fair market value equal to $[_____].  Hartford hereby certifies that the conditions described in Section 9.8(a) of the Reinsurance Agreement have been met. 
	
		
	 
	HARTFORD LIFE AND ANNUITY INSURANCE COMPANY

	 
	 

	 
	 

	Dated:
	 

	 
	Name:

	 
	Title:

EXHIBIT F
INVESTMENT GUIDELINES

Capitalized terms used in these Investment Guidelines that are not defined herein shall have the meanings ascribed to such terms in the Reinsurance Agreement.  

The Reinsurer shall have full authority to buy and sell investments for the Trust Account unless specifically limited or restricted by these investment guidelines or by the insurance laws and regulations of the State of Connecticut or the Commonwealth of Massachusetts (as in effect from time to time) (for purposes of this Exhibit 4, “Insurance Laws”).  The foregoing summary is intended to serve as a guide and any and all investments must (i) comply with the more restrictive of such Insurance Laws, including, but not limited to, Conn. Gen. Statute Section 38a-102c and Massachusetts Ins. Code Section 175:63 and (ii) be considered “admitted assets” under the Insurance Laws.  For purposes of applying these guidelines, the assets held in the Trust Account will be considered all of the assets of a life insurance company writing the Reinsured Contracts.
In addition, the Reinsurer may not incur indebtedness (through margin or otherwise) in the Trust Account; provided that, for the avoidance of doubt, this limitation shall not prohibit the Reinsurer from acquiring investments or instruments otherwise permitted pursuant to these investment guidelines.
Investment Limits
All limits referred to herein are with respect to statutory book value. 
	
			
	Asset Class Limitations
	 
	 Limit 

	US obligations
	 
	 [REDACTED]

	US state/municipal obligations
	 
	 [REDACTED]

	US agency obligations
	 
	 [REDACTED]

	Canadian municipal and agency obligations
	 
	 [REDACTED]

	NAIC 1-2 corporate bonds
	 
	 [REDACTED]

	   Total financial companies/banks obligations
	 
	 [REDACTED]

	NAIC 1-2 structured securities
	 
	 [REDACTED]

	Common stock/futures/LPs
	 
	 [REDACTED]

	Investments in affiliates
	 
	 [REDACTED]

	Emerging markets
	 
	 [REDACTED]

	Qualified mortgage loans1
	 
	 [REDACTED]

	Cash & repo
	 
	 [REDACTED]

	Obligations to all foreign countries rated lower than AA
	 
	 [REDACTED]

	Aggregate foreign obligations and investments (regardless of rating)
	 
	 [REDACTED]

	Tangible investments, non-income producing real estate & portion of loan secured by unqualified mortgage loans2
	 
	 [REDACTED]

	Securities registered under Securities Act of 1933 not rated NAIC 1-2
	 
	 [REDACTED]

 1    Qualified mortgage loans are (1) commercial mortgage loans that have LTV of less than 75% or (2) residential (1-4 family) mortgage loans that have LTV of less than 75%, which are not more than 90 days delinquent in payment.
 2    Unqualified mortgage loans are mortgage loans that are not Qualified Mortgage Loans and are not more than 90 days delinquent in payment.

	
			
	Limitations on Obligations With Ratings from the SVO of the NAIC 
	 
	 Limit 

	NAIC 3-6
	 
	 [REDACTED]

	NAIC 4-6
	 
	 [REDACTED]

	NAIC 5-6
	 
	 [REDACTED]

	NAIC 6
	 
	 [REDACTED]

	
			
	Concentration Limits in Single Obligor
	 
	 Limit 

	Issued or guaranteed by any agency, state, development bank (excl. general obligations of any state)
	 
	 [REDACTED]

	NAIC 1-2 (maturity greater than 1yr)
	 
	 [REDACTED]

	NAIC 3-6
	 
	 [REDACTED]

	NAIC 4-6
	 
	 [REDACTED]

	Securities registered under Securities Act of 1933 not rated NAIC 1-2
	 
	 [REDACTED]

	Obligations to each foreign country rated AA or higher
	 
	 [REDACTED]

	Obligations to each foreign country rated lower than AA
	 
	 [REDACTED]

	Common stock, LP interest or other equity interests (incl. preferred stock) in single institution
	 
	 [REDACTED]

	Real Estate investment or other tangible investment
	 
	 [REDACTED]

EXHIBIT G

Form of Substitution Notice

[DATE]

The Bank of New York Mellon
101 Barclay Street
Mailstop: 101-0850
New York, New York 10286
Attention: Insurance Trust

		
	Re:
	Substitution Notice re Trust Agreement dated as of ___________, by and among Commonwealth Annuity and Life Insurance Company, (the “Grantor”), Hartford Life and Annuity Insurance Company, (the “Beneficiary”), and The Bank of New York Mellon, (the “Trustee”), as amended, supplemented or otherwise modified (the “Trust Agreement”).

Capitalized terms shall have the meanings ascribed to them in the Trust Agreement.  We hereby direct you pursuant to Section 4(c) of the Trust Agreement to substitute the Assets identified in paragraph 1 below for the Assets currently deposited in the from the Trust Account and identified in paragraph 2 below:
1.    [Specify list of substitute Assets to be received][CUSIP]
2.    [Specify list of Assets to be substituted][CUSIP]
We hereby certify that (i) the assets to be deposited in the Trust Account are Eligible Investments, (ii) the aggregate Book Value of the substitute Assets are greater than or equal to the aggregate Book Value of the Assets being replaced and (iii) have an aggregate fair market value greater than or equal to the aggregate fair market value of the Assets being replaced.
Promptly return the substituted Assets to [Grantor] as follows:
[Specify delivery instructions]
Very truly yours,

[Grantor][Investment Manager]

By: _________________________
Name:
Title:

cc:    Beneficiary

EXHIBIT H
FORM OF GRANTOR SERVICING NOTICE

From:    Commonwealth Annuity and Life Insurance Company (“Grantor”)
To:    The Bank of New York Mellon (“Trustee”)
cc:    Hartford Life and Annuity Insurance Company (“Beneficiary”) 
Date:    [  ]
		
	Re:
	Grantor Servicing Notice

We refer to Section 4(j) of the Trust Agreement. All capitalized terms used herein and not otherwise defined herein shall have the meanings set forth in the Trust Agreement.

We hereby (i) certify that (a) the transfer of the following [Asset or Assets] is required in connection with [the pay-off of the following Commercial Mortgage Loan/Bank Loan] / [the sale of the following Commercial Mortgage Loan/Bank Loan by the Grantor] / [the restructuring, foreclosure, deed-in-lieu or other liquidation of the following defaulted Commercial Mortgage Loan/Bank Loan] and (b) that the proceeds from the transfer of such [Asset or Assets] will be paid to the Trustee within three (3) Business Days, and (ii) give you notice that we are exercising our right withdraw the following [Assets or Assets] from the Trust Account.  
Please deliver the following [Asset or Assets] to or for the account of the Person named below at the address specified below:
[The Trustee is instructed to deliver to the Grantor the undated Loan Assignment Documents and original promissory note applicable to Commercial Mortgage Loan No. ____________].
[The Trustee is instructed to deliver to the Grantor the undated Loan Assignment Documents and original promissory note applicable to [Identify Loan]].
You shall not take any action under this notice until the passage of three (3) Business Days from your receipt hereof.

GRANTOR
By:             
Name:    
Title:    

EXHIBIT I
FORM OF DOCUMENT RELEASE LETTER
		
	[Servicer]
	Date:             

		
	Re:
	Servicing Agreement dated as of [______], between [Servicer] for Commonwealth Annuity and Life Insurance Company, and affiliate organizations, as the Owner.  Trust Account No. [________]

In connection with the administration of the below commercial mortgage loan(s) serviced by you and the servicing file related thereto held by you as the Servicer on behalf of the Owner, we request and authorize the release of the servicing file for the [Loan] described below to the Bank of New York Mellon as Trustee (the “Trustee”) under the Trust Agreement dated [____] among Commonwealth Annuity and Life Insurance Company, [•] (the “Beneficiary”), or to the Beneficiary, in each case upon request of the Trustee.  Capitalized terms used herein and not otherwise defined shall have the meanings set forth in the Servicing Agreement.

Borrower’s Name:    
Property Name & Address:    

Loan Number:                

Note Amount:            

Mortgage Dated:        

Ship To:  
___________________________________________
___________________________________________
___________________________________________
___________________________________________

Reason for Requesting Documents (check one):
X Asset Loan to be: Sold, Transferred or Otherwise Liquidated - Date:    

If all or part of the servicing file was previously released to us, please release to us previous correspondence related thereto on file with you, as well as any additional documents in your possession relating to the specified [Loan].

Commonwealth Annuity and Life Insurance
Company

By:        ____________________            
Name/Title:    ____________________

                
The undersigned Servicer hereby acknowledges its agreement to deliver the Servicing File to .

[Servicer]
By:        ____________________        

EXHIBIT J
FORM OF CML ASSIGNMENT DOCUMENT CERTIFICATION

From:    [Commonwealth Annuity and Life Insurance Company (“Grantor”)/[•] (“Beneficiary)]
To:    The Bank of New York Mellon (“Trustee”)
cc:    [Hartford Life and Annuity Insurance Company (“Beneficiary”)/ Commonwealth Annuity and Life Insurance Company (“Grantor”)]
Date:    [  ]
Re:    CML Assignment Documentation Certification: Trust Account No. [___________]
We hereby certify that, in connection with the deposit of [Identify Commercial Mortgage Loan] into the Trust Account, the following documents and instruments are being provided to the Trustee: 
i.            [Original allonge executed in favor of the Trustee, attaching the original Note and any prior Note assignment documents
		
	ii.        
	Copies of the Assignment of the [[Mortgage]/Loan/[Deed of Trust] and Assignment of Leases and Rents] executed in favor of the Trustee 

iii.            Copies of the UCC-3 assignments of Secretary of State Filings and Fixture Filings, as to the Trustee
iv.           Original Omnibus Assignment Agreement in favor of the Trustee, executed in favor of the Trustee]
v.    [Original Participation Certificate and a copy of the Participation Agreement]
vi.    Original Document Release Letter

All capitalized terms used herein and not otherwise defined herein shall have the meanings set forth in the Trust Agreement.

[GRANTOR]/[BENEFICIARY]
By:             
Name:    
Title:

EXHIBIT K
Form of Bank Loan Delivery Certification

From:    [Commonwealth Annuity and Life Insurance Company (“Grantor”)/[•] (“Beneficiary)]
To:    The Bank of New York Mellon (“Trustee”)
cc:    [Hartford Life and Annuity Insurance Company (“Beneficiary”)/ Commonwealth Annuity and Life Insurance Company (“Grantor”)]
Date:    [  ]
Re:    Bank Loan Delivery Certification: Trust Account No. [___________]
We hereby certify that, in connection with the deposit of the [Bank Loan identifying information] into the Trust Account, the following Loan Documents are contained in the Loan Document File, and we further certify that such documents and instruments are accurate and complete: 

i.            Original allonge executed in favor of the Trustee, attaching the original Note and any prior Note assignment documents
ii.        [Copies of the UCC-3 assignments of Secretary of State Filings and Fixture Filings, as to the Trustee]
iii.           Original Omnibus Assignment Agreement in favor of the Trustee, executed in favor of the Trustee]
___    __________________________________________________________

Yours faithfully,

[GRANTOR]/[BENEFICIARY]

By:        
Name:
Title:

EXHIBIT 2
FORM OF RETROCESSION TRUST AGREEMENT
[see attached]

THE USE OF THE FOLLOWING NOTATION IN THIS EXHIBIT INDICATES THAT THE CONFIDENTIAL PORTION HAS BEEN OMITTED PURSUANT TO A REQUEST FOR CONFIDENTIAL TREATMENT AND THE OMITTED MATERIAL HAS BEEN FILED SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION: [REDACTED]

Exhibit 2
TRUST AGREEMENT 1 
This TRUST AGREEMENT, dated [___], 2018 (this “Agreement”), among Commonwealth Annuity and Life Insurance Company, an insurance company organized under the Laws of the State of Massachusetts (the “Beneficiary”), [___], a life insurance company organized under the laws of the State of Connecticut (the “Direct Insurer”), [Retrocessionaire], a life insurance company organized under the laws of [__] (the “Grantor”) and [The Bank of New York Mellon], a [New York] banking corporation (the “Trustee”) (the Grantor, the Beneficiary, the Direct Insurer and the Trustee are hereinafter each sometimes referred to individually as a “Party” and collectively as the “Parties”).
WITNESSETH:
WHEREAS, pursuant to an Annuity Reinsurance Agreement, dated as of [___], 2018, by and between the Beneficiary and the Direct Insurer, the Direct Insurer is ceding to the Beneficiary, and the Beneficiary is reinsuring specified fixed immediate and deferred annuity contracts, variable payout separate account annuity contracts and structured settlement annuity contracts of the Beneficiary (the “Underlying Reinsurance Agreement”) pursuant to the terms and conditions thereof;
WHEREAS, pursuant to an Annuity Retrocession Agreement, dated as of [___], 2018 (the “Retrocession Agreement”), the Beneficiary is retroceding to the Grantor a [__]% quota share portion of certain contracts reinsured to the Beneficiary pursuant to the Underlying Reinsurance Agreement (the “Retroceded Contracts”);
WHEREAS, the Grantor desires to transfer, or cause to be transferred, to the Trustee for deposit to a trust account (including any sub-accounts thereunder, the “Trust Account”), pursuant to Article IX of the Retrocession Agreement, certain assets as security for the payment and performance by the Grantor of its obligations under the Retrocession Agreement;
WHEREAS, the Trustee has agreed to act as trustee hereunder, and to hold such assets in trust in the Trust Account for the use and benefit of the Beneficiary and the Direct Insurer for such purposes in accordance with the terms and conditions of this Agreement; and
WHEREAS, this Agreement is made for the use and benefit of the Beneficiary and the Direct Insurer for the purpose of setting forth the rights, duties and powers of the Trustee with respect to the Trust Account.
NOW, THEREFORE, for and in consideration of the premises and for other good and valuable consideration, the receipt of which is hereby acknowledged, the Parties hereby agree as follows:
1 Note to Draft:  If this Retrocession Trust Agreement is utilized pursuant to Section 3 of the Binder, the terms shall be generally revised to conform to the final version of the Reinsurance Trust Agreement agreed to by the parties. 
Section 1.1    Deposit of Assets to the Trust Account.

(a)    The Grantor hereby establishes the Trust Account with the Trustee for the use and benefit of the Beneficiary and the Direct Insurer, under the terms set forth herein. The Beneficiary is required to deposit (or the Direct Insurer on behalf of the Beneficiary shall deposit), on behalf of the Grantor as Grantor of the Trust Account as an initial deposit the assets listed on Schedule [__] attached hereto.  The Trustee shall administer the Trust Account in its name as trustee for the benefit of the Beneficiary and the Direct Insurer. The Trust Account shall be subject to withdrawal by the Beneficiary, the Direct Insurer and the Grantor solely as provided herein. The Trustee hereby accepts the Trust Account upon the terms set forth in this Agreement. 
(b)    The Grantor shall transfer, or shall cause to be transferred, to the Trustee, for deposit to the Trust Account, such assets as may be required from time to time pursuant to the Retrocession Agreement including any overcollateralization amount contemplated thereby (all such assets are herein referred to individually as an “Asset” and collectively as the “Assets”). The Trustee is authorized and shall have power to receive the Assets from the Grantor and to hold, invest, reinvest and dispose of the same for the uses and purposes of and according to the provisions herein set forth. All Assets shall be maintained by the Trustee in the Trust Account separate and distinct from all other assets on the books and records of the Trustee and in accordance with the terms of this Agreement. The Assets shall consist only of Eligible Investments (as defined below). All Eligible Investments and other Assets credited to the Trust Account shall be registered in the name of the Trustee or its nominee (except for Commercial Mortgage Loans or participations therein) and shall be held by the Trustee in its capacity as trustee and securities intermediary hereunder. No such Eligible Investment or other Asset credited to the Trust Account shall be registered in the name of the Grantor, payable to the order of the Grantor or endorsed to the Grantor, it being agreed and understood that title to all Eligible Investments and other Assets credited to the Trust Account must be held by the Trustee. If any Asset is no longer an Eligible Investment or becomes impaired, the Grantor shall promptly substitute or deposit other Assets which meet the requirements of an Eligible Investment and, if a substitution, having a Book Value greater than or equal to the Book Value, and having a fair market value greater than or equal to the fair market value, of such substituted Asset; provided, however, that the total value of the Assets held in the Trust Account, to the extent required, is equal to or exceeds the Required Balance, in compliance, and as calculated in accordance with Exhibit D hereto.  The Trustee shall accept for deposit into the Trust Account any asset transferred to the Trustee from time to time by the Direct Insurer or the Beneficiary pursuant to a written directive and designated to be deposited into the Trust Account, and all such assets shall be considered “Assets” for purposes of this Agreement and shall be subject to the provisions of this Agreement.  The Trustee shall have no duty or responsibility to determine whether any Assets constitute Eligible Investments or to determine the fair market value of any Assets held in the Trust Account.  The Grantor shall be solely responsible for making such determinations.
(c)    The Grantor hereby represents and warrants (i) that any Assets transferred by the Grantor to the Trustee for deposit to the Trust Account will be in such form that the Beneficiary or the Direct Insurer whenever necessary may, and the Trustee upon direction by the Beneficiary and/or the Direct Insurer will, negotiate any such Assets without consent or signature from the Grantor or any other Person or entity in accordance with the terms of this Agreement, (ii) that all Assets transferred by the Grantor to the Trustee for deposit into the Trust Account will consist only of Eligible Investments, (iii) that Grantor has, at the time of transfer into this Trust Account, conveyed to the Trustee good and marketable title to the Assets to be so transferred and each such Asset shall be at the time of transfer free and clear of all claims, liens, interests and encumbrances (other than those arising under this Agreement) and (iv) that Grantor will not cause the Trustee to take any action that would create, incur, assume or permit any claim, lien or encumbrance on any Asset in the Trust Account (other than those arising under this Agreement).  
(d)    Prior to depositing the Assets into the Trust Account, and from time to time thereafter as required, the Grantor shall execute assignments, endorsement in blank, or transfer legal title to the Trustee of all shares, obligations or other Assets requiring assignments, so that the Beneficiary and/or the Direct Insurer whenever necessary may, and the Trustee upon the direction by the Beneficiary or the Direct Insurer 

will, negotiate any such Assets without the consent or signature from the Grantor or any other Person or entity.  
(e)    The parties recognize that certain Assets will not be readily negotiable and that certain notices, opinions of counsel, representations and/or consents will be required for the Beneficiary or the Direct Insurer (as applicable) to obtain good and marketable title to such Assets. In the event any such Asset is not readily negotiable, the Trustee shall only be required to deliver the Asset, together with any assignment or other document related to such Asset and previously actually deposited with the Trustee, to:  (i) the Beneficiary in accordance with a Beneficiary Request for Withdrawal (as defined below); or (ii) the Direct Insurer in accordance with a Direct Insurer Request for Withdrawal (as defined below).  Any notice, opinion of counsel, representation or consent required to negotiate the Assets shall be provided by the Beneficiary or the Direct Insurer, as applicable, for the initial deposit described in Section 1.1(a), and by the Grantor for any other conveyance of Assets to the Trust Account.

Section 1.2.    Deposit of Commercial Mortgage Loans.
(a)    In the case of Commercial Mortgage Loans, the Grantor shall effect such transfer through delivery by the Grantor to the Trustee of a complete and accurate set of the related Loan Assignment Documents.  
(b)    In the case of Eligible Investments that are Commercial Mortgage Loans, the Grantor grants to the Trustee all powers necessary and reasonable in the performance of its duties hereunder except as otherwise expressly provided herein.  Subject to the terms, conditions and limitations set forth in this Agreement, the Trustee may execute and deliver in the name of the Grantor, the Beneficiary or the Direct Insurer, as permitted by Section 2 of this Agreement, as the case may be, any assignments, stock or bond powers or other documents or instruments which the Trustee deems necessary or convenient and proper (1) to sell, assign, transfer, or make other disposition of any security or other property in the Trust Account; provided that the Trustee shall only sell, assign, transfer or dispose of any Commercial Mortgage Loan in accordance with this Agreement and by sale, assignment or transfer of the whole Commercial Mortgage Loan; (2) to take any necessary action in relation to any such security or property as required pursuant to Section 1.2(c); or (3) to obtain any payment due, but only as instructed by the Grantor, the Beneficiary or the Direct Insurer, as applicable, in accordance with the terms of this Agreement.  Each of the Trustee, and the Beneficiary or the Direct Insurer, as applicable, is hereby authorized and empowered hereunder (x) to prepare and file, on behalf of itself or either of them, any UCC-3 assignment, and (y) and record any assignments delivered as to a Loan Assignment Document in the related real property records, in each case in connection with the withdrawal of any Commercial Mortgage Loan pursuant to a Beneficiary Request for Withdrawal or a Direct Insurer Request for Withdrawal, or in connection with the sale, assignment or transfer of any Commercial Mortgage Loan.
(c)
(i)    In connection with the deposit of any Commercial Mortgage Loan into the Trust Account on the date of the closing of the transactions contemplated in the Retrocession Agreement (the “Closing” and such date, the “Closing Date”): the Direct Insurer on behalf of the Beneficiary shall (A) deliver (or cause to be delivered) to the Trustee a complete and accurate set of the executed originals of related Loan Assignment Documents (other than Trailing Documents, only copies of executed originals of which will be delivered) together with a Loan Assignment Document Certification from the Direct Insurer on behalf of the Beneficiary, and (B) deliver to the Beneficiary and the Grantor copies of such Loan Assignment Documents.  The Trustee shall provide a Custody Transmission to the Grantor, the Beneficiary and the Direct Insurer with respect to every Commercial Mortgage Loan deposited in the Trust Account in connection with the Closing (x) within six (6) Business Days following the Trustee’s receipt of the Loan Assignment Documents in accordance with this Section 1.2(c)(i), (y) on a monthly basis concurrently with the delivery of the Monthly 

Statement, and (z) upon the written request of the Beneficiary, the Direct Insurer or the Grantor. For the avoidance of doubt, delivery of the Loan Assignment Documents in connection with the Closing shall be the Direct Insurer’s responsibility. 
(ii)    In connection with any subsequent deposit of any Commercial Mortgage Loan into the Trust Account after the Closing Date, the Grantor  shall (A) deliver (or cause to be delivered) to the Trustee a complete and accurate set of the executed originals of the related Loan Assignment Documents (other than Trailing Documents, only copies of executed originals of which will be delivered) together with a Loan Assignment Document Certification, and (B) deliver to the Beneficiary and the Direct Insurer copies of such Loan Assignment Documents. The Trustee shall provide a Custody Transmission to the Beneficiary, the Direct Insurer and the Grantor, with respect to every Commercial Mortgage Loan deposited in the Trust Account subsequent to the Closing (x) as promptly as possible, but in no event later than fifteen (15) Business Days after such receipt, (y) on a monthly basis concurrently with the delivery of the Monthly Statement, and (z) upon the written request of the Beneficiary, the Direct Insurer or Grantor.  For the avoidance of doubt, delivery of the Loan Assignment Documents subsequent to the Closing shall be the Grantor’s responsibility.
(iii)    Upon its receipt of the Loan Assignment Documents relating to any Commercial Mortgage Loan, the Trustee shall compare the delivered Loan Assignment Documents to the related Loan Assignment Document Certification and shall provide all related Custody Transmissions to the Beneficiary, the Direct Insurer and the Grantor within the time frames set forth in paragraphs (c)(i)(x) and (c)(ii)(x) above, as applicable, and if the Trustee shall determine that such documents do not substantially conform to the description of such documents specified in the Loan Assignment Document Certification, delivered by the Beneficiary, the Direct Insurer or the Grantor (as applicable) to the Trustee in respect of such Commercial Mortgage Loan, or if for any reason the Trustee is unable to confirm that the documents are as specified in such Loan Assignment Document Certification, the Trustee shall identify such Commercial Mortgage Loan, as having an exception (an “Exception”) on the applicable Custody Transmission.  With respect to any deposit of Commercial Mortgage Loans into the Trust Account, the Beneficiary, the Direct Insurer or the Grantor, as applicable, shall be solely responsible for delivering to the Trustee in a timely manner each and every Loan Assignment Document required for each Commercial Mortgage Loan deposited into the Trust, and for completing or correcting any missing, incomplete or inconsistent documents and the Trustee shall not be responsible or liable for taking any action to ensure the Beneficiary, the Direct Insurer or the Grantor, as applicable, has complied with its delivery obligation hereunder, causing any other Person to do so or notifying the Grantor that any such action has or has not been taken.  A Commercial Mortgage Loan shall be deemed an Asset in the Trust Account only after the Trustee has delivered a completed Custody Transmission to the Beneficiary and the Direct Insurer in respect of such Commercial Mortgage Loan, confirming that all originals of the executed Loan Assignment Documents or (solely with respect to Trailing Documents, copies thereof) have been received by the Trustee with no Exceptions, and if an Exception is noted by the Trustee on the Custody Transmission, only after all Exceptions have been addressed to the Trustee’s reasonable satisfaction and originals of the executed Loan Assignment Documents or (solely with respect to Trailing Documents, copies thereof) have been received by the Trustee.
(iv)    With respect to the Trailing Documents: (x) the Parties acknowledge that the Trailing Documents are not required for the initial deposit and acceptance of a Commercial Mortgage Loan in the Trust Account; (y) the Grantor covenants that, upon its receipt of a Trailing Document, it shall promptly provide such Trailing Document to the Trustee; and (z) in the event that the Trailing Documents with respect to any Commercial Mortgage Loan are not so provided within ninety (90) 

days following such initial deposit and acceptance, such Commercial Mortgage Loan shall cease to be an “Asset” for the purposes of this Agreement, in each case until all Trailing Documents are delivered to the Trustee.
(v)    Notwithstanding paragraphs (c)(i), (c)(ii) and (c)(iii) above, it is herein acknowledged that, in accepting a deposit of any Commercial Mortgage Loan into the Trust Account, the Trustee shall be under no duty or obligation to inspect, review or examine the actual content or substance of any related Loan Assignment Documents, any other loan document, security document or any other related document, instrument or agreement or to determine that they are genuine, enforceable, or appropriate for the represented purpose or that they have actually been recorded or that they are other than what they purport to be on their face.  In no event shall the Trustee be responsible for the preparation of any Loan Assignment Documents, any other loan document, security document or any other instruments, agreements or documents relating to the Commercial Mortgage Loan or required for the deposit of the Commercial Mortgage Loan into the Trust Account or for the expenses of such preparation or any other costs related thereto, including any filing fees therefor.
(vi)    The Trustee’s administrative obligations hereunder in respect of the Commercial Mortgage Loans shall be limited to (x) the preparation and delivery of a Custody Transmission in respect of each Commercial Mortgage Loan, including notation of any Exceptions, and (y) the execution of instruments or other documents provided to it, including Trustee Loan Assignment Documents, and the Trustee shall take no action with respect to any Commercial Mortgage Loan or any Underlying Asset, except at the written direction of the Beneficiary, the Direct Insurer or the Grantor, as applicable, or as otherwise permitted pursuant to this Agreement.  Any compensation and expenses payable to any servicer under the Servicing Agreements shall be paid by the Grantor, and, if charged to and paid by the Trustee (it being understood that the Trustee has no obligation to pay any such amounts), shall be reimbursed as expenses of the Trustee by the Grantor in accordance with Section 9(a); provided that any such compensation and expenses may be payable out of assets in the Trust Account or Income Account.
With respect to any assignment and assumption agreement relating to a Commercial Mortgage Loan, the Trustee is hereby authorized and directed, not in its individual capacity but solely in its capacity as Trustee, to execute and deliver such assignment and assumption agreements presented to the Trustee for execution from time to time. To the extent that, under the assignment and assumption agreements, the Trustee as assignee has undertaken or assumed any obligations or made any representations, warranties or covenants, such obligations, representations, warranties or covenants shall not be those of the Trustee, but shall instead be those of the Grantor and the Grantor shall perform or cause to be performed all such obligations, representations, warranties or covenants.
(d)    The Grantor hereby represents, warrants and covenants (i) that any assets transferred by the Grantor to the Trustee for deposit to the Trust Account will be in such form that the Beneficiary or the Direct Insurer whenever necessary may, and the Trustee upon direction by the Beneficiary and/or the Direct Insurer may, negotiate any such assets without consent or signature from the Grantor or any Person in accordance with the terms of this Agreement; and (ii) that all assets delivered (or caused to be delivered) by the Grantor to the Trustee for deposit to the Trust Account will consist only of Eligible Investments at the time of such transfer.  In furtherance of the foregoing, the Grantor shall take such actions that shall become necessary or appropriate to maintain the assignability of Commercial Mortgage Loans held in the Trust Account during the term of this Agreement, including but not limited to, obtaining any consents necessary to transfer any Commercial Mortgage Loans to or from the Trust Account.  The Grantor hereby represents, warrants and covenants with the Beneficiary, the Direct Insurer and the Trustee that any consents required to effect any sale, transfer or assignment with respect to any Commercial Mortgage Loan have been or will have been 

obtained prior to the deposit of such Commercial Mortgage Loan into the Trust Account.  The Trustee shall have no responsibility whatsoever to determine at any time whether any Assets are or continue to be Eligible Investments.
Section 2.    Withdrawal of Assets from the Trust Account.
(a)The Beneficiary shall have the right, at any time and from time to time, to withdraw from the Trust Account, upon notice to the Trustee in the form of a certificate and request for withdrawal substantially in the form of Exhibit A attached hereto (the “Beneficiary Request for Withdrawal”), signed by a duly authorized officer of the Beneficiary, such Assets as are specified in such Beneficiary Request for Withdrawal.  The Beneficiary shall simultaneously deliver a copy of such notice to the Grantor; provided, however, that the Trustee shall not be required to confirm delivery of such copy.  Such withdrawal by the Beneficiary shall be made only in the circumstances permitted by Section 9.8(a) of the Retrocession Agreement (the text of which section is set forth on Exhibit D to this Agreement) and then only in the amount permitted to be withdrawn pursuant to such Section 9.8(a). The Beneficiary shall not submit the Beneficiary Request for Withdrawal except as permitted by the immediately preceding sentence. The Beneficiary shall acknowledge in writing receipt of any such Assets withdrawn from the Trust.
(b)The Direct Insurer shall have the right, at any time and from time to time, to withdraw from the Trust Account, upon notice to the Trustee in the form of a certificate and request for withdrawal substantially in the form of Exhibit B attached hereto (the “Direct Insurer Request for Withdrawal”), signed by a duly authorized officer of the Direct Insurer, such Assets as are specified in such Direct Insurer Request for Withdrawal.  The Direct Insurer shall simultaneously deliver a copy of such notice to the Grantor and the Beneficiary; provided, however, that the Trustee shall not be required to confirm delivery of such copy.  Such withdrawal by the Direct Insurer shall be made only in the circumstances permitted by Section 9.8(b) of the Retrocession Agreement and Section 9.8(b) of the Underlying Reinsurance Agreement and then only in the amount permitted to be withdrawn pursuant to such Section 9.8(b) of the Retrocession Agreement and Section 9.8(b) of the Underlying Reinsurance Agreement.  The Direct Insurer shall not submit the Direct Insurer Request for Withdrawal except as permitted by the immediately preceding sentence.  The Direct Insurer shall acknowledge in writing receipt of any such Assets withdrawn from the Trust.  In the event of a dispute between the Direct Insurer and the Beneficiary regarding the appropriate amount of such a withdrawal by the Direct Insurer the parties shall act in accordance with the last sentence of Section 9.8(b) of the Retrocession Agreement (the text of which section is set forth on Exhibit D to this Agreement).
(c)Upon receipt of a Beneficiary Request for Withdrawal or a Direct Insurer Request for Withdrawal in accordance with Section 2(a) or Section 2(b) above, the Trustee shall as soon as practicable, but in no event later than two (2) Business Days, take any and all steps necessary to transfer the Assets specified in such Beneficiary Request for Withdrawal or Direct Insurer Request for Withdrawal, and shall deliver such Assets to or for the account of the Beneficiary, such designee as specified in such Beneficiary Request for Withdrawal or Account Number [•] or to or for the account of the Direct Insurer or such designee as specified in such Direct Insurer Request for Withdrawal, as the case may be; provided, however, that such transfer shall occur no later than two (2) Business Days following receipt of such request.  The Trustee agrees to notify the Grantor of the occurrence of any such withdrawal by the Beneficiary or the Direct Insurer, as applicable, within two (2) Business Days following such delivery.  In addition, (i) the Beneficiary agrees with the Grantor that it shall provide a certificate to the Grantor in the form of Exhibit E attached hereto, certifying that the withdrawal has been made in accordance with Section 9.8(a) of the Retrocession Agreement, within such two (2) Business Day period, and (ii) the Direct Insurer agrees with the Grantor that it shall provide a certificate to the Grantor in the form of Exhibit F attached hereto, certifying that the withdrawal has been made in accordance with Section 9.8(b) of the Retrocession Agreement and Section 9.8(b) of the Underlying Reinsurance Agreement, within such two (2) Business Day period.
(d)Without limiting the applicability of the foregoing, in connection with the withdrawal of any Commercial Mortgage Loan, the Beneficiary or the Direct Insurer, as applicable, shall direct the Trustee in writing to, and the Trustee shall, in its capacity as Trustee and not in its individual capacity, date, as applicable, 

the Trustee Loan Assignment Documents to endorse and transfer the Commercial Mortgage Loan to the Beneficiary or the Direct Insurer, as applicable, and the Trustee shall reasonably cooperate with the Beneficiary or the Direct Insurer in providing any information or documentation necessary to effect such assignment (to the extent such information or documentation exists and is in the possession or control of the Trustee).  The Grantor hereby grants the Beneficiary and the Direct Insurer a limited power of attorney to act on the behalf of the Grantor to the extent (and only to such extent) necessary to obtain the consents or approvals required to effect the transfer of any Commercial Mortgage Loan in connection with any withdrawal by the Beneficiary and the Direct Insurer, as applicable, permitted hereunder, and the Grantor shall reasonably cooperate with the Beneficiary and the Direct Insurer in providing any information or documentation necessary to effect such sale, transfer or assignment.  In the event that the Beneficiary or the Direct Insurer withdraws a Commercial Mortgage Loan from the Trust Account pursuant to this Agreement, then, unless otherwise agreed upon by the Grantor and the Beneficiary or the Direct Insurer, as applicable, in writing with notice to the Trustee, only the entire whole Commercial Mortgage Loan (and not a portion thereof) or the entire participation interest in a Commercial Mortgage Loan then in the Trust Account may be assigned or transferred to the Beneficiary or the Direct Insurer, as applicable.
(e)
(i)    Unless and until a Notice of Exclusive Control is given to the Trustee pursuant to Section 11, the Grantor may, at any time and from time to time, to withdraw from the Trust Account, after providing written notice to the Trustee.  The Grantor may make such request using the form of a certificate and request for withdrawal substantially in the form of Exhibit C (the “Grantor Request for Withdrawal”), signed by duly authorized officers of the Grantor, and specifying such Assets the Grantor intends to withdraw.  Such withdrawal by the Grantor may be made only pursuant to Section 9.6 of the Retrocession Agreement (the text of which section is set forth on Exhibit D to this Agreement). 
(ii)    The Grantor shall acknowledge in writing receipt of any such Assets withdrawn from the Trust. 
(f)    Upon receipt of a Grantor Request for Withdrawal in accordance with Section 2(e)(i) above, the Trustee shall take any and all steps necessary to transfer the Assets specified in such Grantor Request for Withdrawal, and shall deliver such Assets to or for the account of the Grantor or such designee as specified in such Grantor Request for Withdrawal (i) no later than two (2) Business Days following receipt of such request, if (A) such request is in respect of any withdrawal and transfer of cash in connection with the payment by the Grantor of an amount specified in a Monthly Reinsurance Settlement Report and (B) the conditions in clauses (x) and (i) through (v) in Section 9.6(a) of the Retrocession Agreement are all met, or (ii) on the fifth Business Day following the date of such Grantor Request for Withdrawal, in respect of all other requests made pursuant to Section 9.6 of the Retrocession Agreement unless the Beneficiary or the Direct Insurer shall have objected to such withdrawal in writing within such five (5) Business Day period.  The Trustee shall provide notice to the Beneficiary and the Direct Insurer of the withdrawal within two (2) Business Days following such delivery.  In addition, in respect of a withdrawal pursuant to clause (i) of this Section 2(f), the Grantor shall provide a certificate to the Beneficiary and the Direct Insurer in the form of Exhibit G attached hereto, certifying that such withdrawal has been made in accordance with Section 9.6 of the Retrocession Agreement, within such two (2) Business Day period.
(g)    Without limiting the applicability of the foregoing, in the event that the Grantor makes a demand to the Trustee to withdraw a Commercial Mortgage Loan held in the Trust Account under this Section 2, then only the entire whole Commercial Mortgage Loan (and not a portion thereof) or the entire participation interest in a Commercial Mortgage Loan may be withdrawn by the Grantor; provided, further, that in connection with any withdrawal of any Commercial Mortgage Loan hereunder, the Grantor or the applicable investment manager shall (A) direct the Trustee in writing to, and the Trustee shall, execute and return the 

Trustee Loan Assignment Documents to the Grantor and (B) obtain any consents required to effect such sale, transfer or assignment, and the Trustee shall reasonably cooperate with the Grantor or the investment manager in providing any information or documentation necessary to effect such withdrawal (to the extent such information or documentation exists and is in the possession or control of the Trustee).
(h)    In the event of any dispute between, or conflicting claims by or between, the Beneficiary, the Direct Insurer and/or the Grantor concerning the right of the Beneficiary, the Direct Insurer or the Grantor to initiate a withdrawal of Assets pursuant to this Section 2, the Trustee shall, notwithstanding such dispute or conflicting claims, promptly, and without further inquiry, comply with the terms of any Beneficiary Request for Withdrawal, the Direct Insurer Request for Withdrawal or Grantor Request for Withdrawal (collectively a “Withdrawal Notice”) received by it in accordance with this Agreement, provided, however, that the Trustee shall not be or become liable in any way to the Beneficiary, the Direct Insurer or the Grantor for complying with such Withdrawal Notice and the Trustee shall be fully and completely indemnified in accordance with the provisions of Section 9 hereof.
(i)    The Trustee shall enable the Beneficiary and the Direct Insurer to view each deposit to, or withdrawal from, the Trust Account by providing the Beneficiary and the Direct Insurer access to the Trustee’s online portal with respect to the Trust Account.
(j)    Subject to Section 1(b) and Section 4, in the absence of a Beneficiary Request for Withdrawal, a Direct Insurer Request for Withdrawal or a Grantor Request for Withdrawal, the Trustee shall allow no substitution or withdrawal of any Asset from the Trust Account.
Section 3.    Application of Assets.
(a)    The Beneficiary shall be permitted to withdraw Assets from the Trust Account only for the purposes of satisfying obligations of the Grantor under Section 9.8(a) of the Retrocession Agreement that have not been satisfied within five (5) Business Days after a demand therefor by the Beneficiary.
(b)    The Direct Insurer shall be permitted to withdraw Assets from the Trust Account only for the purposes of satisfying obligations of the Beneficiary under Section 9.8(b) of the Retrocession Agreement that have not been satisfied within five (5) Business Days after a demand therefore by the Direct Insurer.
(c)    The Trustee shall have no responsibility whatsoever to determine that any Assets withdrawn from the Trust Account pursuant to Section 2 of this Agreement will be used and applied in the manner contemplated by paragraphs (a) and (b) of this Section 3.
Section 4.    Redemption, Investment and Substitution of Assets.
(a)    The Trustee shall surrender for payment all maturing Assets and all Assets called for redemption, and deposit the principal amount of the proceeds of any such payment to the Trust Account.
(b)    The Grantor may retain (and pay the service fees of) one or more professional asset managers (each, an “Asset Manager”) to manage and make investment decisions with regard to the Assets held by the Trustee in the Trust Account, including any sub-accounts thereunder. The initial Asset Managers shall be Hartford Investment Management Company and the Grantor. The Grantor shall cause the Asset Managers to comply with the investment guidelines attached hereto as Exhibit H (the “Investment Guidelines”), which sets forth the division of duties between such parties with respect to making investment decisions, including what instructions the parties may provide to the Trustee . From time to time, at the written order and direction of the Grantor or any Asset Manager (with respect to the Assets managed by such Asset Manager), the Trustee shall invest Assets in the Trust Account in Eligible Investments. 
(c)    From time to time and in accordance with Section 9.7 of the Retrocession Agreement (the text of which section is set forth on Exhibit D to this Agreement), the Grantor or any Asset Manager (with respect to the Assets managed by such Asset Manager) may provide notice to the Trustee, the Beneficiary and the Direct Insurer of its desire to substitute specified Assets in the Trust Account with Eligible Investments having an aggregate Book Value greater than or equal to the aggregate Book Value of such Assets being replaced and having an aggregate fair market value greater than or equal to the aggregate fair market value of such Assets being replaced, so long as following such substitution all assets in the Trust Account are Eligible Investments.  Such notice of substitution shall be substantially in the form of Exhibit [__], attached, 

and shall specify by CUSIP the specific assets to be deposited in, and withdrawn from, the Trust Account, and shall contain a certification to the Trustee, the Beneficiary and the Direct Insurer that the assets to be deposited in the Trust Account are Eligible Investments Five (5) Business Days after receipt of such notice from the Grantor or any Asset Manager by the Trustee, the Trustee shall distribute the specified assets to the Grantor or applicable Asset Manager upon receipt of the specified assets from the Grantor or the applicable Asset Manager.  The Trustee shall have no responsibility whatsoever to determine the aggregate Book Value of such substituted Assets or that such substituted Assets constitute Eligible Investments.
(d)    All investments and substitutions of securities referred to in Section 4(b) and Section 4(c) above shall be in compliance with the definition of “Eligible Investments” in Section 14 of this Agreement. Any instruction or order concerning such investments or substitutions of securities shall be referred to herein as an “Investment Order”. The Trustee shall execute Investment Orders and settle securities transactions by itself or by means of an agent or broker. The Trustee shall not be responsible for any act or omission, or for the solvency, of any such agent or broker.
(e)Any investment orders related to the sale, transfer or assignment of any Commercial Mortgage Loan (other than in connection with a substitution or exchange covered under Section 4(c) or Section 4(j)) shall only be effected by the Grantor or the applicable investment manager in accordance with Section 12(a).
(f)When the Trustee is directed to deliver Assets against payment, delivery will be made in accordance with generally accepted market practice.
(g)Any loss incurred from any investment pursuant to the terms of this Section 4 shall be borne exclusively by the Trust Account.
(h)All items of income, gain, expense and loss recognized in the Trust Account shall be reported to the Internal Revenue Service and all state and local taxing authorities under the name and taxpayer identification number of the Grantor.
(i)Without limiting the applicability of the foregoing and subject to the Retrocession Agreement, with respect to the Commercial Mortgage Loans, in the substitution notice to the Trustee, the Grantor or the applicable investment manager shall (1) direct the Trustee in writing to, and the Trustee shall, in its capacity as Trustee and not in its individual capacity, execute and deliver to the Grantor, the Trustee Loan Assignment Documents, for the Commercial Mortgage Loan being replaced, and (2) obtain any consents required to effect such substitution, and the Trustee shall reasonably cooperate with the Grantor or the investment manager in providing any information or documentation necessary to effect such substitution (to the extent such information or documentation exists and is in the possession or control of the Trustee).  The Grantor may from time to time designate a third party in the substitution notice to whom the Trustee Loan Assignment Documents, including the original Note and the Loan Assignment Allonge or the Participation Certificate, as applicable shall be delivered.
(j)Subject to the Retrocession Agreement and the provisions of this Section 4(j), the Grantor shall also have the right, at any time and from time to time, to withdraw from the Trust Account, subject only to three (3) Business Days’ prior written notice from the Grantor to the Trustee, the Beneficiary and the Direct Insurer in the form attached hereto as Exhibit I (a “Grantor Servicing Notice”), such Commercial Mortgage Loan or Commercial Mortgage Loans as are specified in such Grantor Servicing Notice, which notice shall include a certification by the Grantor to the Trustee, the Beneficiary and the Direct Insurer that the withdrawal of the Commercial Mortgage Loan or Commercial Mortgage Loans is required in connection with (i) the pay-off of any Commercial Mortgage Loan, (ii) the sale of a Commercial Mortgage Loan by the Grantor or (iii) the modification, servicing, restructuring, foreclosure, deed-in-lieu or other liquidation of any Commercial Mortgage Loan.  In the Grantor Servicing Notice delivered in connection with any withdrawal of any Commercial Mortgage Loan pursuant to this Section 4(j), the Grantor or the applicable investment manager shall (1) direct the Trustee in writing to, and the Trustee shall, in its capacity as Trustee and not in its individual capacity, execute and deliver to the Grantor, the Trustee Loan Assignment Documents, and (2) obtain any consents required to effect such withdrawal, and the Trustee shall reasonably cooperate with the Grantor or the investment manager in providing any information or documentation necessary to effect such 

withdrawal (to the extent such information or documentation exists and is in the possession or control of the Trustee). The Grantor may from time to time designate a third party in a Grantor Servicing Notice to whom the Trustee Loan Assignment Documents, including the original Note and the Loan Assignment Allonge or the Participation Certificate, as applicable shall be delivered.  The Grantor Servicing Notice shall include a certification that, as applicable, (A) the proceeds from a transaction of the type described in clause (i) or (ii) of the first sentence of this Section 4(j) will be paid into the Trust Account within three (3) Business Days; or (B) in the case of clause (iii) of the first sentence of this Section 4(j), that any net cash proceeds from such foreclosure sale or liquidation shall be paid into the Trust Account within three (3) Business Days.  For avoidance of doubt, in the event that the Grantor comes into possession of any cash proceeds, the Grantor acknowledges and agrees (i) that it holds such proceeds in trust for the benefit of the Beneficiary, and (ii) that it will transfer such proceeds to the Trust Account as soon as reasonably practical following receipt by the Grantor, except in each case, to the extent that it has previously deposited other Assets into the Trust Account to replace some or all of the value of the withdrawn Commercial Mortgage Loan.  The withdrawal of a Commercial Mortgage Loan pursuant to this Section 4(j) shall reduce the Book Value or fair market value, as applicable, of the Assets in the Trust Account by the value of the asset so withdrawn in the event the Grantor does not deposit such cash proceeds, and/or other Assets (which may include a modified or restructured Commercial Mortgage Loan with a Book Value or fair market value, as applicable, at least equal to the value of such withdrawn Commercial Mortgage Loans), within three (3) Business Days following such withdrawal.  For the avoidance of doubt, in no event shall real estate owned resulting from any such foreclosure, deed-in-lieu or other liquidation be deposited into the Trust Account.  Notwithstanding anything herein to the contrary, at no time shall the value of any Commercial Mortgage Loans “in transit” (i.e., such Commercial Mortgage Loan is withdrawn from the Trust Account for one of the purposes set forth in clause (i) through (iii) of this Section 4(j) without simultaneously being replaced with Eligible Investments with the same value) under this Section 4(j) exceed $50 million.  The Grantor shall not be required to present any other statement or document in addition to a Grantor Servicing Notice in order to withdraw any Commercial Mortgage Loan, and the Grantor shall acknowledge receipt of any Commercial Mortgage Loans, withdrawn from the Trust Account upon request by the Trustee.  The Trustee shall have no liability or responsibility to verify or determine the occurrence of any event or condition giving rise to the Grantor’s right to withdraw Commercial Mortgage Loans from the Trust Account pursuant to a Grantor Servicing Notice or to monitor the Grantor’s compliance with its obligation to deposit proceeds of any withdrawn Asset, and the Trustee shall be fully protected in relying conclusively on the Grantor Servicing Notice.
Section 5.    The Income Account.
(a)    All payments of interest, dividends and other income in respect to Assets in the Trust Account (it being agreed that with respect to Commercial Mortgage Loans, such amounts shall be deposited in the Income Account after retention by the related servicer of required escrows and reserves to the extent contemplated pursuant to the terms of the applicable loan agreement and the Servicing Agreement) shall be the property of the Grantor and shall be deposited by the Trustee subject to deduction of the Trustee’s compensation and expenses as provided in Section 9 of this Agreement, in a separate income column of custody ledger (the “Income Account”) established and maintained by the Grantor at an office of the Trustee. The Grantor, upon written notice to the Trustee, may withdraw amounts from the Income Account at any time and from time to time. Any interest, dividend or other income automatically posted and credited on the payment date to the Income Account which is not subsequently received by the Trustee shall be reimbursed by the Grantor to the Trustee and the Trustee may debit the Income Account for this purpose.
(b)    To the extent received from a servicer under any Servicing Agreements the Grantor shall deliver (i) to the Trustee monthly remittance reports that detail the payments of Net Collections, interest and other income received in respect of each of the Commercial Mortgage Loans, and (ii) in accordance with the applicable Servicing Agreement(s) for deposit into the Trust Account, all Net Collections generated by Commercial Mortgage Loans in the Trust Account, it being agreed that Grantor may satisfy such obligations by causing servicer to deliver such reports and amounts directly to the Trustee.  To the extent that the Trustee 

receives in the Trust Account such income together with principal in a single payment, the Trustee shall, in accordance with the information contained in the monthly remittance reports to be delivered by or on behalf of the Grantor as provided below, allocate such income to the Income Account.  For the avoidance of doubt, no principal payments on any of the Commercial Mortgage Loans shall be deposited into the Income Account.
Section 6.    Right to Vote Assets.  Whenever there are voluntary rights that may be exercised or alternate courses of action that may be taken by reason of the Grantor’s ownership of Eligible Investments, the Grantor or its designee shall be responsible for making any decisions relating thereto and for directing the Trustee to act. The Trustee shall notify the Grantor or its designee of rights or discretionary actions with respect to Eligible Investments as promptly as practicable under the circumstances, provided that the Trustee has actually received notice of such right or discretionary corporate action from the relevant depository, etc. Absent actual receipt of such notice, the Trustee shall have no liability for failing to so notify the Grantor or its designee. Absent the Trustee’s timely receipt of instructions, the Trustee shall not be liable for failure to take any action relating to or to exercise any rights conferred by such Eligible Investments.
Section 7.    Additional Rights and Duties of the Trustee.
(a)    Before accepting any Asset for deposit to the Trust Account, the Trustee shall determine that such Asset is in such form that the Beneficiary or Direct Insurer whenever necessary may, or the Trustee upon direction by the Beneficiary or Direct Insurer will, negotiate such Asset without consent or signature from the Grantor or any Person or entity other than the Trustee in accordance with the terms of this Agreement.
(b)    The Trustee shall be under no obligation to determine whether or not any instructions given by the Grantor, the Beneficiary or the Direct Insurer are contrary to any provision of law. It is understood and agreed that the Trustee’s duties are solely those set forth herein and that the Trustee shall have no duty to take any other action unless specifically agreed to by the Trustee in writing. Without limiting the generality of the foregoing, the Trustee shall not have any duty to advise, manage, supervise or make recommendations with respect to the purchase, retention or sale of Assets with respect to any Assets in the Trust Account as to which a default in the payment of principal or interest has occurred or to be responsible for the consequences of insolvency or the legal inability of any broker, dealer, bank or other agent employed by the Grantor or Trustee with respect to the Assets.  The Trustee agrees to use reasonable efforts to advise the Grantor, the Beneficiary and the Direct Insurer of the occurrence of any default with respect to securities held in trust hereunder to the extent that it has received notice of same.
(c)    The Trustee shall accept and open all mail directed to the Grantor, the Beneficiary or the Direct Insurer in care of the Trustee.
(d)    The Trustee shall have no responsibility whatsoever to determine that any Assets in the Trust Account are or continue to be Eligible Investments or to determine the value of any Asset.
(e)    The Trustee shall furnish to the Grantor, the Beneficiary and the Direct Insurer a statement (the “Asset Statement”), containing (i) a description of all of the Assets in the Trust Account and (ii) information pertaining to all deposits, withdrawals and substitutions made during the statement period, upon the inception of the Trust Account and at the end of each calendar month thereafter; provided, however, the Asset Statement shall not include any other information regarding Commercial Mortgage Loans (which shall be reported on the Custody Transmission).  The Asset Statement shall be delivered within five (5) Business Days following the end of each such calendar month.  The Asset Statement to be delivered pursuant to this Section 7(e) shall be deemed delivered by the Trustee to the Grantor, the Beneficiary and the Direct Insurer to the extent that prior to the end of such calendar month, the Grantor, the Beneficiary and the Direct Insurer, as the case may be, had requested and been given access to the Trustee’s automated data system affording on-line access to Trust Account information and such information is posted by the Trustee on such system within the relevant period.
(f)    The Trustee shall keep full and complete records of the administration of the Trust Account in accordance with all applicable law. Upon the request of the Grantor, the Beneficiary or the Direct Insurer, the Trustee shall promptly permit the Grantor, the Beneficiary, or the Direct Insurer, their respective agents, employees, independent auditors and regulatory authorities to examine, audit, excerpt, transcribe and copy, 

during the Trustee’s normal business hours, any books, documents, papers and records relating to the Trust Account or the Assets.
(g)
(i)    Unless otherwise provided in this Agreement, the Trustee is authorized to follow and rely upon all instructions given by officers named in incumbency certificates furnished to the Trustee from time to time by the Grantor, any relevant Asset Manager, the Beneficiary or the Direct Insurer, respectively, and by attorneys-in-fact acting under written authority furnished to the Trustee by the Grantor, the Beneficiary or the Direct Insurer, including, without limitation, instructions given by letter, facsimile transmission or electronic media, if the Trustee reasonably believes such instructions to be genuine and to have been signed, sent or presented by the proper party or parties. The Trustee shall not incur any liability to anyone resulting from actions taken by the Trustee in reliance in good faith on such instructions. The Trustee shall not incur any liability in executing instructions (A) from any attorney-in-fact prior to receipt by it of notice of the revocation of the written authority of the attorney-in-fact or (B) from any officer of the Grantor, the Beneficiary or the Direct Insurer named in an incumbency certificate delivered hereunder prior to receipt by it of a more current certificate. Each of the Grantor, the Beneficiary and the Direct Insurer acknowledges and agrees that it is fully informed of the protections and risks associated with the various methods of transmitting instructions to the Trustee, and that there may be more secure methods of transmitting instructions than the method selected by the sender. Each of the Grantor, the Beneficiary and the Direct Insurer agrees that the security procedures, if any, to be followed in connection with a transmission of instructions provide to it a commercially reasonable degree of protection in light of its particular needs and circumstances.
(ii)    Funds Transfers. With respect to any “funds transfer,” as defined in Article 4-A of the Uniform Commercial Code, the following security procedure will apply: payment instruction of the Grantor, the Beneficiary or the Direct Insurer, as the case may be, is to include the name and (in the case of a facsimile) signature of the Person initiating the funds transfer request. If the name is listed as an Authorized Person on the relevant account, the Trustee will confirm the instructions by telephone call to any Person listed as an Authorized Person on the account, who may be the same Person who initiated the instruction. When calling back, the Trustee will request from the staff member of the Grantor, the Beneficiary or the Direct Insurer, as the case may be, his or her name. If the name is listed in the Trustee’s records as an Authorized Person, the Trustee will confirm the instructions with respect to amount, names and numbers of accounts to be charged or credited and other relevant reference information. Where the Agreement contemplates joint payment instructions from the Grantor, the Beneficiary and the Direct Insurer, the Trustee shall call back the Grantor, the Beneficiary and the Direct Insurer. Each of the Grantor and Beneficiary acknowledges that Trustee has offered each of the Grantor, the Beneficiary and the Direct Insurer other security procedures that are more secure and are commercially reasonable for such Grantor, Beneficiary or Direct Insurer, and that such Grantor, Beneficiary and Direct Insurer has nonetheless chosen the procedure described in this paragraph. Each of the Grantor, the Beneficiary and the Direct Insurer agrees to be bound by any payment order issued in its name, whether or not authorized, that is accepted by the Trustee in accordance with the above procedures. When instructed to credit or pay a party by both name and a unique numeric or alpha-numeric identifier (e.g. ABA number or account number), the Trustee, and any other bank participating in the funds transfer, may rely solely on the unique identifier, even if it identifies a party different than the party named. This applies to beneficiaries as well as any intermediary bank. Each of the Grantor, the Beneficiary and the Direct Insurer agrees to be bound by the rules of any funds transfer network used in connection with any payment order accepted by the Trustee hereunder. The Trustee shall not be obliged to make any payment or otherwise to act on any instruction notified to it under this Agreement if it is unable to validate the authenticity of the request by telephoning an Authorized Person who has not executed the relevant request or instruction 

of the relevant Grantor, Beneficiary or Direct Insurer. Payment or otherwise to act on any instruction by Authorized Person of the relevant the Grantor, Beneficiary or Direct Insurer will be made by the Trustee within three (3) Business Days after Trustee’s verification of instructions as set forth above. A “Business Day” shall mean any day on which banks in the State of New York, the Commonwealth of Massachusetts and the State of Connecticut are open for business.
Notwithstanding any revocation, cancellation or amendment of this authorization, any action taken by the Trustee pursuant to this authorization prior to the Trustee’s actual receipt and acknowledgement of a notice of revocation, cancellation or amendment shall not be affected by such notice.
(h)    The duties and obligations of the Trustee shall only be such as are specifically set forth in this Agreement, as it may from time to time be amended, and no implied duties or obligations shall be read into this Agreement against the Trustee.
(i)    No provision of this Agreement shall require the Trustee to take any action which, in the Trustee’s reasonable judgment, would result in any violation of this Agreement or any provision of law.
(j)    The Trustee may confer with counsel of its own choice in relation to matters arising under this Agreement and shall have full and complete authorization from the other Parties for any action taken or suffered by it under this Agreement or in respect of any transaction contemplated hereby in good faith and in accordance with the advice or opinion of such counsel.
(k)The Trustee shall not be liable hereunder except for its own negligence, willful misconduct or lack of good faith. Anything in this Agreement to the contrary notwithstanding, in no event shall the Trustee, be liable under or in connection with this Agreement for indirect, special, incidental, punitive or consequential losses or damages of any kind whatsoever, including but not limited to lost profits, whether or not foreseeable, even if the Trustee has been advised of the possibility thereof and regardless of the form of action in which such damages are sought. The Trustee shall not incur any liability for not performing any act or fulfilling any duty, obligation or responsibility hereunder to the extent solely by reason of any occurrence beyond the control of Trustee, including, but not limited to, any act or provision of any present or future law or regulation or governmental authority, any act of God or war or terrorism, accidents, labor disputes, loss or malfunction of utilities or the unavailability of the Federal Reserve Bank wire or telex or other wire or communication facility. Nothing contained in any contract between Trustee and any entity authorized to hold Assets, as defined herein, shall diminish or otherwise alter the liability of Trustee to the Grantor, the Beneficiary or the Direct Insurer as set forth and in accordance with the terms herein. The provisions of this paragraph shall not affect the burden of proof under applicable law with respect to the assertions of liability in any claim, action or dispute alleging any breach of or failure to observe such standard of care.
(l)The Trustee shall not be responsible for the existence, genuineness or value of any of the Assets, for the validity, perfection, priority or enforceability of the liens or any security interest in or with respect to any of the Assets, for the validity of title to the Assets, for insuring the Assets, for the payment of taxes, charges, assessments or liens upon or with respect to the Assets, for any obligations under any agreements or other documents evidencing or related to any of the Assets (other than this Agreement), or for the compliance of the Assets with any laws. The Trustee shall have no responsibility for the recording, filing or registration (or for the rerecording, refiling or reregistration) of any instrument or notice, including any financing or continuation statement or any tax or securities form, at any time in any public office or elsewhere for the purpose of perfecting, maintaining the perfection of or otherwise making effective any lien or any security interest upon, in or with respect to any of the Assets.
(m)The Trustee shall have no responsibility to determine whether any Commercial Mortgage Loans are negotiable, transferable or assignable, as applicable, and shall have no liability (i) to the extent that the Loan Assignment Documents and other instruments or documents provided to the Trustee are not sufficient to effect the transfer, sale or assignment, as applicable, of any Commercial Mortgage Loan upon the execution and delivery thereof by the Trustee as provided herein or (ii) to the extent that there is a failure 

in the withdrawal of a Commercial Mortgage Loan specified in a Beneficiary Request for Withdrawal by the Beneficiary or in a Direct Insurer Request for Withdrawal by the Direct Insurer, as applicable, as a result of the Grantor’s or applicable investment manager’s sale or transfer of such Commercial Mortgage Loan.
(n)The Grantor, the Beneficiary and the Direct Insurer acknowledge and agree that (i) the Trustee shall have no liability under this Agreement for any action or omission of any of the parties to any Servicing Agreement or any other agreement (related to the Commercial Mortgage Loans) taken pursuant to such agreements, including with respect to any Commercial Mortgage Loan at any time during which such Commercial Mortgage Loan is under the care, custody, possession or control of any of the parties to any Servicing Agreement or any other agreement (related to the Commercial Mortgage Loans) or any of their respective other depositories, subcustodians, other agents or nominees (and none of such other entities or Persons shall be considered to be the depositories, subcustodians, agents or nominees of the Trustee), (ii) the performance by the Trustee of any of its obligations under this Agreement may be delayed, limited or otherwise affected by the actions or omissions of any of the parties to any Servicing Agreement or any other agreement (related to the Commercial Mortgage Loans) or as a result of such Commercial Mortgage Loan being subject to any Servicing Agreement, and (iii) the Trustee shall have no liability under this Agreement as a result of the Trustee’s failure to perform any of its obligations under this Agreement as a result of the actions or omissions of any of the parties to any Servicing Agreement or any other agreement (related to the Commercial Mortgage Loans) that cause such failure or as a result of obligations under any Servicing Agreement or any other agreement (related to the Commercial Mortgage Loans).  In no event will the Trustee be required to perform or assume any duties of any party under any Servicing Agreement.
(o)The Trustee shall not foreclose on, direct or consent to the foreclosure of, any Underlying Asset or take title to such Underlying Asset by deed-in-lieu of foreclosure or other means except that, in connection with the Grantor, servicer, the Beneficiary or the Direct Insurer taking such action, the Trustee shall execute such documents, in its capacity as Trustee and not in its individual capacity, provided to it and take such other action as may be reasonably required, in accordance with instructions from the Grantor, the Beneficiary or the Direct Insurer provided pursuant to the terms hereof.
(p)Any notice or correspondence received by the Trustee from any Person in respect of any Commercial Mortgage Loan shall be promptly forwarded to the Grantor and, if such notice did not come to the Trustee from the Beneficiary or the Direct Insurer, to the Beneficiary or the Direct Insurer, as applicable, pursuant to the notice provisions contained in this Agreement, and, unless the Grantor provides written instructions to the Trustee in accordance with terms of this Agreement, the Trustee shall take no other action with respect to any such notice or correspondence (other than such action explicitly required under this Agreement, including the provision of a Beneficiary Request for Withdrawal under Section 2(a) or the provision of a Direct Insurer Request for Withdrawal under Section 2(b)), and the Trustee shall not be liable for failure to take any action relating thereto.
(q)The Trustee may deposit any Assets in the Trust Account in a book-entry account maintained at the Federal Reserve Bank of New York or in depositories such as the Depository Trust Company. The Trustee shall have no liability whatsoever for the action or inaction of any depository or for any Losses resulting from the maintenance of such Assets with a depository. Assets may be held in the name of a nominee maintained by the Trustee or by any such depository.  The Trustee shall have no responsibility whatsoever to determine whether any Assets are or continue to be Eligible Investments or for the determination of the value of any Assets.
(r)The Trustee shall not be required to risk or expend its own funds in performing its obligations under this Agreement.
(s)Notwithstanding references to the Retrocession Agreement in this Agreement, it is acknowledged and agreed that the Trustee has no interest in, and no duty, responsibility or obligation with respect to, the Retrocession Agreement (including without limitation, no duty, responsibility or obligation to monitor the Grantor’s, the Beneficiary’s or the Direct Insurer’s compliance with the Retrocession Agreement).

(t)The Trustee shall set up online access to the Trust Account and shall provide each of the Grantor, the Beneficiary and the Direct Insurer with the appropriate access information.
Section 8.    Representations, Warranties and Covenants of the Trustee.  The Trustee represents, warrants and covenants to the Grantor, the Beneficiary and the Direct Insurer that:
(a)    The Trustee is a Qualified United States Financial Institution;
(b)    In the ordinary course of its business, the Trustee maintains securities accounts for others and is acting in that capacity in this Agreement;
(c)    The Trust Account is and at all times shall be maintained at an office of the Trustee in the United States of America;
(d)    The Trustee is not an Affiliate of the Grantor, the Beneficiary or the Direct Insurer.
Section 9.    The Trustee’s Compensation; Expenses.
(a)    The Grantor shall pay the Trustee, as compensation for its services under this Agreement, a fee computed at rates agreed to between the Trustee and the Grantor. The Grantor shall pay or reimburse the Trustee for all of the Trustee’s expenses and disbursements in connection with its duties under this Agreement (including reasonable attorney’s fees and expenses), except any such expense or disbursement as may arise from the Trustee’s negligence, willful misconduct, lack of good faith or failure to administer the Trust Account in accordance with the terms of this Agreement if such failure is the result of the Trustee’s negligence, willful misconduct or lack of good faith.  The Grantor hereby agrees to indemnify the Trustee for, and hold it harmless against, any Losses howsoever arising in connection with this Agreement or the Trustee’s performance of its obligations in accordance with the provisions of this Agreement, including but not limited to any Losses incurred by the Trustee in connection with its successful defense, in whole or in part, of any claim of negligence, willful misconduct or lack of good faith on its part or Losses arising out of or in connection with the status of the Trustee and its nominee as the holder of record of the Assets; provided, however, that the Trustee shall not be indemnified with respect to Losses caused by the Trustee’s own negligence, willful misconduct or lack of good faith. The Grantor hereby acknowledges that the foregoing indemnities and payment and reimbursement obligations shall survive the resignation or discharge of the Trustee or the termination of this Agreement. 
(b)    The Grantor hereby agrees to indemnify the Trustee for, and hold it harmless against, any Losses or Environmental Damages sustained or incurred by or asserted against the Trustee by reason of or as a result of any action or inaction, or arising out of the Trustee’s performance hereunder, including, without limitation, reasonable attorneys’ and accountants’ fees and expenses incurred by the Trustee in a successful defense of claims by the Grantor, the Beneficiary or the Direct Insurer; provided, however, that the Grantor shall not indemnify the Trustee for those Losses or Environmental Damages arising out of the Trustee’s negligence, willful misconduct or lack of good faith.  This indemnity shall be a continuing obligation of the Grantor, its successors and assigns, notwithstanding the termination of this Agreement. 
(c)    The Beneficiary hereby agrees to indemnify the Trustee for, and hold it harmless against, any and all Losses which are sustained by the Trustee by reason of or as a result of any action taken or omitted by the Trustee pursuant to the Beneficiary’s written instructions or notices required or permitted to be given to the Trustee by the Beneficiary hereunder. Notwithstanding the foregoing, the Beneficiary shall not indemnify the Trustee for those Losses caused by the Trustee’s negligence, willful misconduct or lack of good faith.  This indemnity shall be a continuing obligation of the Beneficiary and its successors and assigns, notwithstanding the termination of this Agreement.
(d)    The Direct Insurer hereby agrees to indemnify the Trustee for, and hold it harmless against, any and all Losses which are sustained by the Trustee by reason of or as a result of any action taken or omitted by the Trustee pursuant to the Direct Insurer’s written instructions or notices required or permitted to be given to the Trustee by the Direct Insurer hereunder. Notwithstanding the foregoing, the Direct Insurer shall not indemnify the Trustee for those Losses caused by the Trustee’s negligence, willful misconduct or lack of good faith.  This indemnity shall be a continuing obligation of the Direct Insurer and its successors and assigns, notwithstanding the termination of this Agreement.

(e)    If the Grantor is required to pay any amounts to the Trustee pursuant to paragraphs 9(a) or 9(b) above for which the Beneficiary or the Direct Insurer is liable under paragraph 9(c) or 9(d), as applicable, then the Beneficiary or the Direct Insurer, as applicable, shall, upon demand by the Grantor, promptly reimburse the Grantor for all such amounts.  If the Beneficiary or the Direct Insurer is required to pay any amounts to the Trustee pursuant to paragraph 9(c) or 9(d) above, as applicable, for which the Grantor is liable under paragraphs 9(a) or 9(b), then the Grantor shall, upon demand by the Beneficiary or the Direct Insurer, promptly reimburse the Beneficiary or the Direct Insurer, as applicable, for all such amounts.
(f)    No Assets shall be withdrawn from the Trust Account or used in any manner for paying compensation to, or reimbursement or indemnification of, the Trustee; provided, however, that the Grantor, the Beneficiary and the Direct Insurer hereby grant the Trustee a lien, right of set-off and security interest in the funds in the Income Account for the payment of any claim for compensation, reimbursement or indemnity hereunder.
Section 10.    Resignation or Removal of the Trustee.
(a)    The Trustee may resign at any time upon delivery of a written notice thereof to the Grantor, the Beneficiary and the Direct Insurer effective not less than ninety (90) days after receipt by the Beneficiary, the Grantor and the Direct Insurer of such notice. The Trustee may be removed by prior written notice executed by the Grantor, the Beneficiary and the Direct Insurer. No such resignation or removal shall become effective until a successor Trustee has been appointed and approved by the Grantor, the Beneficiary and the Direct Insurer and all Assets in the Trust Account have been duly transferred to the successor Trustee in accordance with paragraph (b) of this Section 10.  In the event of the Trustee’s resignation or removal, it agrees to provide reasonable assistance in transferring the Assets to any successor Trustee, including executing instruments of conveyance and providing necessary information; provided, however, that the Trustee is assured to its satisfaction, that it will be reimbursed by the Grantor for any cost or expense that it may incur by reason of taking or continuing to take any such action.
(b)    Upon receipt by the proper Parties of the Trustee’s notice of resignation or the Grantor’s, the Beneficiary’s or the Direct Insurer’s notice of removal, the Grantor, the Beneficiary and the Direct Insurer shall jointly appoint a successor Trustee. Any successor Trustee shall be a bank that is a member of the Federal Reserve System and a Qualified United States Financial Institution, and shall not be an Affiliate of the Grantor, the Beneficiary or the Direct Insurer. Upon the acceptance of the appointment as Trustee hereunder by a successor Trustee and the transfer to such successor Trustee of all Assets in the Trust Account, the resignation or removal of the Trustee shall become effective. Thereupon, such successor Trustee shall succeed to and become vested with all the rights, powers, privileges and duties of the resigning or removed Trustee, and the resigning or removed Trustee shall be discharged from any future duties and obligations under this Agreement, but the resigning or removed Trustee shall continue after such resignation or removal to be entitled to the benefits of the indemnities provided herein for the Trustee.
Section 11.    Security Interest in the Assets in the Trust Account.
(a)    Security Interest. The Grantor, the Beneficiary and the Direct Insurer intend that the Trustee, in its capacity as Trustee, is and at all times shall be the registered owner of and holder of legal title to the Trust Account and the Assets. However, to the extent that a court of competent jurisdiction should determine that (1) the Trustee is not the owner of the Trust Account and the Assets, (2) the Trust is not valid, or (3) the transfer of the Assets by the Grantor to the Trust Account is not effective or does not otherwise transfer to the Trust all of the Grantor’s right, title and interest to the Assets, then as further provided in this Section 11 and without any intent to vitiate the creation of an effective trust, the Trust Account shall be deemed to be a “securities account” (within the meaning of Section 8-501(a) of the Uniform Commercial Code as in effect in the State of New York (the “NY UCC”)).  All Eligible Investments and other Assets (as defined below) delivered to the Trustee shall be credited to the Trust Account and shall be treated as “financial assets” within the meaning of Section 8-102(a)(9) of the NY UCC.
(b)    The Grantor hereby grants and transfers to the Beneficiary, for the purposes set forth herein, a first priority perfected security interest in, and pledges and assigns to the Beneficiary, all of the Grantor’s 

right, title and interest in, to and under, whether now existing or hereafter acquired or arising, (i) the Trust Account and all cash and other financial assets credited thereto from time to time including, without limitation, the Assets, and all security entitlements arising therefrom, (ii) all investment property, securities, investments, instruments, cash, mortgage notes and all participation interests in mortgage notes, funds, deposit accounts, general intangibles, accounts, receivables, chattel paper, letter-of-credit rights, documents, goods, real property and all other assets (a) held in or credited to the Trust Account, (b) otherwise conveyed to the Trustee by the Grantor pursuant to this Agreement or (c) purporting to be part of the Assets, and (iii) all proceeds, supporting obligations and all security interests, mortgages or other liens securing any of the foregoing (collectively, the “Collateral”), solely to secure the obligations of the Grantor under the Retrocession Agreement to the Beneficiary and agrees that this Agreement shall constitute a security agreement under all laws, published rules, statutes, regulations, policies and codes and judgments, injunctions, orders, decrees, licenses, permits and all other requirements of governmental entities applicable to the Person, place and situation in question. In furtherance of the preceding sentence, the Trustee acknowledges that all Collateral conveyed to the Trustee is held for the benefit of the Beneficiary for purposes of the security interest granted hereunder and that the Beneficiary shall have “control” (as such term is defined in Articles 8 and 9 of the NY UCC) of the Collateral. All terms used in this Section 11(a) and not otherwise defined shall have the meaning ascribed to such terms in the NY UCC. In addition, the Grantor hereby (i) authorizes the Beneficiary to file any and all UCC financing statements with respect to the Collateral that are reasonably deemed necessary by the Beneficiary in order to perfect such security interest in the Collateral.
The parties understand and agree that the Trustee is a “securities intermediary” within the meaning of Section 8-102(a)(14) of the NY UCC with respect to the Trust Account and all such financial assets held therein, except with respect to any cash so credited, and in respect of any such cash, the Trust Account shall be deemed to be a “deposit account” (as defined in Section 9-102(a)(29) of the NY UCC) to the extent a security interest can be granted and perfected under the NY UCC in the Trust Account as a deposit account, which the Trustee shall maintain acting not as a securities intermediary but as a “bank” (within the meaning of Section 9-102(a)(8) of the NY UCC). The Parties agree that New York shall be deemed to be the “securities intermediary’s jurisdiction” for purposes of Section 8-110(e) of the NY UCC. The Grantor may, from time to time, with prior notice to the Beneficiary and the Direct Insurer, establish one or more sub-accounts under the Trust Account, which shall be part of the Trust Account.
(c)    Until receipt by the Trustee from the Beneficiary of a notice (i) stating that an Exclusive Control Event has occurred with respect to the Grantor and (ii) attaching a certification from the Beneficiary of the occurrence of an Exclusive Control Event following, if applicable, a final, valid and binding determination with respect to Grantor’s challenges to a notification of a “Mandatory Control Level Event” by the Commissioner (the “Notice of Exclusive Control”), the Trustee will comply with notifications it receives directing it to transfer or redeem any Asset in the Trust Account and any other “entitlement order” (as such term is defined in Section 8-102(a)(8) of the NY UCC) originated by the Grantor in accordance with the terms of this Agreement.  The Grantor shall provide notice to the Beneficiary and the Direct Insurer within two (2) Business Days following the occurrence of an Exclusive Control Event, which, if applicable, shall not be until there has been a final, valid and binding determination with respect to any Grantor’s challenges to a notification of a “Mandatory Control Level Event” by the Commissioner.
(d)    In the event the Trustee receives a Notice of Exclusive Control, the Trustee thereafter will (i) immediately cease complying with entitlement orders originated by the Grantor in respect of the Trust Account and any Asset held therein that would otherwise be permitted under Section 2, and (ii) immediately comply with “entitlement orders” originated by the Beneficiary in respect of the Trust Account and any Asset held therein, in each case without further consent of the Grantor. The Beneficiary shall also provide notice to the Grantor and the Direct Insurer of such Notice of Exclusive Control at the same time provided to the Trustee.
(e)    The Trustee hereby acknowledges the Beneficiary’s security interest in the Collateral granted pursuant to clause (a) above, and will mark its records, by book-entry or otherwise, to indicate the Beneficiary’s 

security interest in the Collateral and the proceeds thereof. The Trustee has not entered into, and until the termination of this Agreement will not enter into, any agreement with any other Person: (i) which purports to grant any lien or security interest in the Trust Account or any Assets credited thereto, (ii) pursuant to which the Trustee has agreed to comply with entitlement orders of any other Person or otherwise agreed to give “control” over the Trust Account to any other Person or (iii) which purports to limit or condition the obligation of the Trustee to comply with entitlement orders from the Grantor and Beneficiary as set forth in Section 2 hereof. The Trustee hereby waives and releases, for the benefit of the Beneficiary, all liens, encumbrances, claims and rights of setoff the Trustee may have against the Trust Account or any Asset carried in the Trust Account on account of any fees, indebtedness or other obligations owed to the Trustee by the Grantor and agrees that the Trustee will look solely to the Grantor and the Income Account for payment of all such fees, indebtedness or other obligations; provided, that the foregoing shall not prohibit the Trustee from exercising any rights of setoff with respect to amounts which are withdrawn from the Trust Account at the Grantor’s direction in accordance with Section 2 hereof and in compliance with Section 9.6 of the Retrocession Agreement. 
(f)    The Beneficiary and the Direct Insurer agree that all Assets released from the Trust Account to Grantor or its designee in accordance with the terms and conditions of this Agreement shall be free and clear of any lien, encumbrance or security interest granted by the Grantor pursuant to this Agreement.
Section 12.    Commercial Mortgage Loans.
(a)    Except with respect to any Commercial Mortgage Loan withdrawn by the Beneficiary or the Direct Insurer in accordance with the terms hereof, the Grantor or the Direct Insurer, as applicable, shall have the sole and exclusive right, power and authority to service, administer, manage, liquidate, deal with, issue or withhold any consents or waivers, amend, modify, extend, or make any other decisions in respect of any Commercial Mortgage Loans in any manner that it shall choose, subject only to any limitations set forth in this Agreement, the applicable Servicing Agreement or in any other related agreement affecting the Commercial Mortgage Loans, as applicable; provided, that the Trustee shall be entitled to receive on behalf of the Grantor all payments made in respect of the Commercial Mortgage Loans (whether from any servicer, borrower or other Person), including principal and interest payments, proceeds and other income arising from or under such Commercial Mortgage Loans (after retention by the related servicer of such servicer’s expenses, required escrows and reserves to the extent contemplated pursuant to the terms of the applicable loan agreement and Servicing Agreement), as applicable, and to retain, use, enjoy the same subject only to the limitations set forth in this Agreement, the applicable Servicing Agreement and in any other related agreement affecting the Commercial Mortgage Loans.  Except with respect to any Commercial Mortgage withdrawn by the Beneficiary or the Direct Insurer in accordance with the terms hereof, the Grantor shall have the sole and exclusive right, power and authority to make decisions and take other actions in respect of any Commercial Mortgage Loans (and any related Underlying Assets) under any servicing agreement, loan document and any other related agreement affecting the Commercial Mortgage Loans or the related Underlying Assets, in each case, as fully and completely as if this Agreement had not been executed and delivered; provided, however, that the sale, transfer or assignment of any such Commercial Mortgage Loan shall only be effectuated by substitution, exchange and withdrawal pursuant to the terms of this Agreement.  The Grantor shall have the exclusive power and authority, acting alone or through sub-servicers, to do any and all things in connection with such servicing, administration, management and liquidation of the Commercial Mortgage Loans which it may deem necessary or desirable to maximize recoveries with respect thereto, subject to the limitations contained in this Agreement and any related agreements.  Without limiting the generality of the foregoing, the Grantor shall continue, and is hereby authorized and empowered hereunder, to prepare and file any and all financing statements, continuation statements and other documents or instruments necessary to maintain the lien on any Underlying Assets.  Notwithstanding anything to the contrary contained in this Agreement, the Trustee shall not date, endorse, record or transfer any Loan Assignment Document except in accordance with the written directions of the Grantor or the applicable investment manager or, (i) upon receipt of a Beneficiary Request for Withdrawal, in accordance with the 

written direction of the Beneficiary and (ii) upon receipt of a Direct Insurer Request for Withdrawal, in accordance with the written direction of the Direct Insurer.
(b)    The Trustee (not in its individual capacity but solely as Trustee hereunder), upon receipt of a written request from the Grantor, shall execute and deliver any powers of attorney and other documents provided to it which the Grantor determines, in the exercise of its reasonable judgment, are necessary in order to enable any servicer to carry out its duties under the applicable Servicing Agreement or any other servicing agreement, or to enable the Grantor to take appropriate action in respect of the ownership, assignment, transfer and liquidation of the Commercial Mortgage Loans (and any related Underlying Assets), as applicable, subject to the limitations in this Agreement.  The Trustee acknowledges that the Grantor may (in its sole discretion), from time to time, execute and deliver a limited power of attorney in order to enable a servicer to carry out their duties under the applicable Servicing Agreement relating to any Commercial Mortgage Loan or any related Underlying Assets.  The authority of the Grantor or any servicer shall include the power to (i) enforce, modify, amend, renew or extend the Commercial Mortgage Loans or the Underlying Assets, (ii) grant or withhold any consents or waivers under or in respect of the Commercial Mortgage Loans or the Underlying Assets, (iii) file and collect insurance claims, (iv) release any Underlying Asset or any other collateral or any party from any liability on or with respect to any of the Commercial Mortgage Loans, (v) compromise or settle any claims of any kind or character with respect to any of the Commercial Mortgage Loans, subject to any limitations provided herein, (vi) initiate, complete or otherwise take any action with respect to a foreclosure or deed in lieu of foreclosure, on any of the Underlying Assets, (vii) repair, replace, renovate, restore and improve the Underlying Assets, (viii) negotiate and contract to sell and sell any Commercial Mortgage Loan (including through receipt of a discounted pay-off on such Asset), (ix) commence, continue, negotiate, or settle litigation relating to a Commercial Mortgage Loan or the Underlying Assets, (x) make any servicing or other advances, (xi) act as a mortgagee in possession or receiver or in any other capacity with respect to the Underlying Assets, (xii) exercise any and all rights in respect of the Commercial Mortgage Loans and the Underlying Assets, or (xiii) take any action with respect to any security document securing a Commercial Mortgage Loan, effectuate foreclosure or other conversion of the ownership of any Underlying Asset, including the employment of attorneys, the institution of legal proceedings, the acceptance of compromise proposals, the filing of claims for mortgage insurance, the collection of liquidation proceeds, seeking a receiver, appointing a new property manager and any other matter pertaining to a Commercial Mortgage Loan or an Underlying Asset.  When the Grantor, in the exercise of its reasonable business judgment, finds it appropriate, it shall execute and deliver any instruments of satisfaction, cancellation, partial or full release, discharge, transfer and all other comparable instruments, with respect to the related Commercial Mortgage Loan or the Underlying Asset, as applicable, provided that the execution and delivery of such instrument is necessary in order to enable any servicer to carry out its duties under the Servicing Agreements or any related loan document.  Any such action taken by the Grantor shall be subject in all respects to the terms of this Agreement (including, without limitation, Section 4 regarding substitution of Assets in the Trust Account).  The Grantor may exercise all of the powers set forth herein in its own name.  Upon written request of the Grantor, the Trustee shall execute and deliver any documents provided to it and reasonably requested by the Grantor in furtherance of or incidental to any of the foregoing actions.
(c)    The Grantor may retain a professional servicer to service the Commercial Mortgage Loans on its behalf, in furtherance of the Grantor’s exclusive right, power and authority to service, manage and administer the Commercial Mortgage Loans in the Trust Account, upon reasonable advance written notice to but without the approval or consent of the Trustee, the Beneficiary and the Direct Insurer, but subject to the rights in and requirements of the applicable Servicing Agreement, provided that the retention of such servicer shall not relieve the Grantor of any of its obligations and liabilities hereunder.  The Grantor may remove any servicer under any Servicing Agreement pursuant to the terms of the applicable Servicing Agreement or such other servicing agreements and may appoint a successor servicer, without the consent or approval of, but only upon written notice of such removal and appointment to, the Trustee, the Beneficiary and the Direct Insurer.  The Grantor agrees to, and shall use commercially reasonable efforts to cause the 

servicer to, reasonably cooperate with the Beneficiary or the Direct Insurer to assist with the transfer of servicing responsibilities to the successor servicer appointed by the Beneficiary or the Direct Insurer.  In connection with any withdrawal by Beneficiary or the Direct Insurer, Grantor shall, or shall cause any such servicer to, transfer to the Beneficiary or the Direct Insurer all funds held by Grantor or such servicer with respect to such Commercial Mortgage Loan, including without limitation all collections, reserves and escrows relating to such Commercial Mortgage Loan.  
(d)    With the exception of the Loan Assignment Documents to be delivered to the Trustee in accordance with the terms of this Agreement, the servicer shall retain and be charged with maintaining possession of all documentation and files relating to the Commercial Mortgage Loans (the “Servicing File”).  Upon the deposit of any Commercial Mortgage Loan to the Trust Account, (i) the Grantor shall deliver (or cause to be delivered) to the Trustee a letter in the form attached hereto as Exhibit K, executed in blank by an authorized signatory and addressed to the applicable servicer, instructing such servicer to release the Servicing File to the Trustee or to the Beneficiary or the Direct Insurer in accordance with the terms hereof, whenever requested by the Trustee (the “Document Release Letter”), and (ii) within thirty (30) calendar days of the date of deposit, the Grantor shall provide the servicer’s list of the documents in the Servicing File to the Trustee, the Beneficiary and the Direct Insurer.  The delivery of the Document Release Letter by the Grantor to the Trustee shall constitute a representation and certification by the Grantor to the Trustee, the Beneficiary and the Direct Insurer that such Document Release Letter is sufficient under the terms of the applicable Servicing Agreement to require the servicer to release the Servicing File to the Trustee without the further consent of the Grantor or any other Person.  The Servicing Agreements shall not be amended, modified or supplemented in any way that adversely impacts the ability of the Trustee to obtain the Servicing File without the prior written consent of the Beneficiary and the Direct Insurer.  As promptly as practicable following the date hereof, and in any event within thirty (30) days of the date hereof, the Grantor shall arrange with the servicer to separately designate the Servicing File from other documents held by the servicer for the benefit of the Grantor and provide written notice to the Trustee, the Beneficiary and the Direct Insurer when such access has been arranged.  Such direct access arrangements with the servicer shall not be changed without the consent of the Beneficiary and the Direct Insurer. The Trustee acknowledges that (x) the Beneficiary may instruct the Trustee to withdraw any documents in the Servicing File in accordance with a Beneficiary Request for Withdrawal and (y) the Direct Insurer may instruct the Trustee to withdraw any documents in the Servicing File in accordance with a Direct Insurer Request for Withdrawal.
(e)    In order to facilitate the servicing, administration and enforcement of the Commercial Mortgage Loans by or on behalf of the Grantor, and the servicing of the Commercial Mortgage Loans by a servicer, the Grantor (if it is not using a third party servicer) or servicers may temporarily hold collections on such Commercial Mortgage Loans prior to the time they are remitted to the Trustee and may hold physical possession of any related documents or instruments.  Upon written request of the Grantor to the Trustee (with a simultaneous copy to the Beneficiary and the Direct Insurer, provided the Trustee shall not be required to confirm delivery of such copy) pursuant to the terms hereof, the Trustee shall promptly release, deliver or transfer such documents and instruments as may be requested from time to time by the Grantor.  The Trustee and the Grantor hereby acknowledge that the Grantor and the servicers are acting as bailees of the Trustee in holding such monies pursuant to this Agreement (with respect to the Grantor) and the applicable Servicing Agreement, and that the Grantor and the servicers are acting as the Trustee’s bailee in holding any documents or instruments released, delivered or transferred to the Grantor or any servicer pursuant to this Agreement, and any other items constituting a part of the Trust Account which from time to time come into the possession of the Grantor or any servicer; provided, however, the Trustee shall incur no liability whatsoever for any acts of the Grantor and the servicers in their capacity as bailee.
(f)    Each of the Trustee, Beneficiary and the Direct Insurer hereby acknowledges that the rights and obligations of the Grantor under any Servicing Agreement have not been transferred to or accepted or assumed by the Trustee and are otherwise expressly reserved by and to the Grantor to act on its own behalf 

and in any manner that it so chooses, without any consent or approval rights on the part of the Trustee, the Beneficiary or the Direct Insurer hereunder, subject to the terms of this Agreement and any related agreement.
(g)    The Grantor hereby acknowledges and agrees that the Trustee shall not have any obligations relating to any future funding commitments in respect of the Assets (including, for the avoidance of doubt, the Commercial Mortgage Loans).
Section 13.    Termination of the Trust Account.  This Agreement, except for the indemnities provided herein, may be terminated only after the Grantor, the Beneficiary and the Direct Insurer have given the Trustee joint written notice of their intention to terminate this Agreement and the Trust Account (the “Notice of Intention”). Upon receipt of the Notice of Intention, and without further authorization from the Beneficiary or any other Person, the Trustee shall promptly transfer to the Grantor, the Beneficiary or the Direct Insurer, in accordance with the joint direction of the Grantor, the Beneficiary and the Direct Insurer contained in the Notice of Intention, any and all Assets remaining in the Trust Account, at which time all liability of the Trustee with respect to the Assets so transferred shall cease. This Agreement, except for the indemnities provided herein, and the Trust Account shall terminate when all of the Assets have been so delivered by the Trustee in accordance with the terms of this Agreement.
Section 14.    Definitions.  Except as the context shall otherwise require, the following terms shall have the following meanings for purposes of this Agreement (the definitions to be applicable to both the singular and the plural forms of each term defined if both forms of such term are used in this Agreement):
The term “Affiliate” means any other Person that directly or indirectly controls, is controlled by, or is under common control with, the first Person.
The term “Beneficiary” shall include any successor of the Beneficiary by operation of law including, without limitation, any liquidator, rehabilitator, receiver or conservator.
The term “Book Value” means, with respect to any Asset and as of any date of determination, the amount stated for such assets, including accrued interest, on the Grantor’s statutory financial statements determined in accordance with then applicable statutory accounting principles.
The term “Control” (including the related terms “controlled by” and “under common control with”) shall mean the ownership, directly or indirectly, of more than 50% of the voting securities of a corporation.
The term “Direct Insurer” shall include any successor of the Direct Insurer by operation of law including, without limitation, any liquidator, rehabilitator, receiver or conservator.
The term “Commercial Mortgage Loan” means commercial mortgage loans as permitted under the Investment Guidelines and deposited into the Trust Account, which, for the avoidance of doubt, may include any participation interests, provided such interests are (a) obtained in accordance with the applicable loan documents and are subject to a valid participation agreement and (b) are on a pari passu economic basis with the other participants, but shall not include any commercial mortgage loans evidenced by multiple promissory notes.
The term “Custody Transmission” means, in the case of each Commercial Mortgage Loan held by the Trustee, a computer-readable transmission containing the following information (and such other data as may be mutually agreed upon in writing by the Grantor and the Trustee), which shall be delivered by the Trustee to the Grantor and the Beneficiary (or the Direct Insurer on behalf of the Beneficiary) pursuant to Section 1.2(c) of this Agreement: the Mortgage Loan Number, Underlying Asset’s address, Mortgagor’s name, and Mortgagor’s address, for each Commercial Mortgage Loan. The Trustee shall incorporate the outstanding principal amount of the Commercial Mortgage Loan, whether or not a Commercial Mortgage Loan is specially serviced and all other agreed upon data, to the extent provided to the Trustee, into the Custody Transmission.  Each Custody Transmission delivered shall (a) be cumulative, and shall cover all 

Commercial Mortgage Loans for which related Loan Assignment Documents are being held by the Trustee on the date of such Custody Transmission, and (b) include a then-current listing of all Loan Assignment Documents.  The form of the Custody Transmission shall not be modified without the consent of the Parties, not to be unreasonably conditioned, delayed or withheld. 
The term “Eligible Investments” means assets (i) qualifying as admitted assets for life insurance companies under the insurance laws of the State of Connecticut and (ii) complying with the requirements specified by the Investment Guidelines.
The term “Environmental Damages” means any and all claims, Losses, liabilities, damages, fines, penalties, and out-of-pocket costs and expenses (including reasonable attorney’s fees and expenses) of whatever kind or nature, known or unknown, contingent or otherwise, arising out of, or in any way related to (a) the presence, disposal, release or threatened release of any Hazardous Materials which are on, from or affecting soil, water, vegetation, buildings, personal property, persons, animals or otherwise; (b) any personal injury (including wrongful death), property damage (real or personal) or natural resource damage arising out of or related to such Hazardous Materials; (c) any third party claim brought or threatened, settlement reached, government order, or any legal policies or legal requirements having the force of law imposed on the Trustee, which are based upon or in any way related to such Hazardous Materials, including attorney and consultant fees and expenses, investigation and laboratory fees, court costs and litigation expenses; and (d) any violations of Environmental Law.
The term “Environmental Law” means the Comprehensive Environmental Response, Compensation and Liability Act, as amended, the Resource Conservation and Recovery Act of 1976, as amended, and any other applicable federal, state, local, or foreign statute, rule, regulation, order, judgment, directive, decree, permit, license or common law as in effect now, previously, or at any time during the term of this Agreement, and regulating, relating to, or imposing liability or standards of conduct concerning air emissions, water discharges, noise emissions, the release or threatened release or discharge of any Hazardous Material into the environment, the use, manufacture, production, refinement, generation, handling, treatment, storage, transport or disposal of any Hazardous Material or otherwise concerning pollution or the protection of the outdoor or indoor environment, or human health or safety in relation to exposure to Hazardous Materials.
The term “Exclusive Control Event” means that there has been a Mandatory Control Level Event with respect to the Grantor within the meaning of [insert applicable citation to the insurance regulation of the Grantor’s domiciliary state].
The term “Governmental Authority” means any foreign or national government, any state or other political subdivision thereof or any self-regulatory authority, and any entity exercising executive, legislative, judicial, regulatory or administrative functions of or pertaining to government.
The term “Hazardous Materials” means, without limit, any pollutant, contaminant or hazardous, toxic, medical, biohazardous, or dangerous waste, substance, constituent or material, defined or regulated as such in, or for the purpose of, any applicable Environmental Law, including any asbestos, any petroleum, oil (including crude oil or any fraction thereof), any radioactive substance, any polychlorinated biphenyls, any toxin, chemical, disease-causing agent or pathogen, and any other substance that gives rise to liability under any applicable Environmental Law.
The term “Loan Assignment Document Certification” means a certification substantially in the form of Exhibit J attached hereto.

The term “Loan Assignment Documents” means, (a) with respect to any whole Commercial Mortgage Loans, (i) an original allonge (“Loan Assignment Allonge”) executed in a form sufficient to properly assign and transfer each original promissory note or notes and any prior transfer documents pertaining to such notes (collectively and severally, the “Note”) evidencing such Commercial Mortgage Loan and attaching the original Note, (ii) one or more original assignment agreements executed in favor of the Trustee (solely in its capacity as Trustee and not in its individual capacity), in recordable form and otherwise in a form sufficient to transfer and assign of record each of the mortgages, deeds of trust, deeds to secure debt or similar instruments securing such Commercial Mortgage Loan (the “Security Instruments”) and each of any separate assignments of rents and leases and similar agreements securing such Commercial Mortgage Loan (the “Lease Assignments”), (iii) UCC-3 assignments or similar assignments in form sufficient to assign each of the financing statements (including fixture filings) required in connection with such Commercial Mortgage Loan (the “Financing Statements”), to the Trustee, and (iv) an original executed omnibus assignment in favor of the Trustee, in form and substance sufficient to transfer to Trustee all of the Grantor’s right, title and interest in and to the Commercial Mortgage Loan to the Trustee, including specifically, without limitation, all of the Grantor’s rights and interests in and to all guaranties, environmental indemnification agreements, security agreements, loan agreements and similar agreements; (b) with respect to any Commercial Mortgage Loans constituting participation interests, (i) an original participation certificate executed in a form sufficient to properly assign such participation interest (the “Participation Certificate”) and (ii) a copy of the applicable participation agreement (the “Participation Agreement”) and (c) with respect to all Commercial Mortgage Loans in subclauses (a) and (b) above, a Loan Assignment Document Certification delivered by the Grantor to the Trustee in respect of such Commercial Mortgage Loan.
The term “Losses” means, collectively, losses, costs, expenses (including reasonable attorney’s fees and expenses), damages, liabilities and claims.
The term “Monthly Reinsurance Settlement Report” has the meaning set forth on Exhibit D attached hereto.
The term “Net Collections” means all principal collections on an Asset, insurance proceeds and condemnation awards arising from or under such Asset, after retention by the related servicer of required escrows and reserves to the extent contemplated pursuant to the terms of the applicable loan agreement and Servicing Agreement.
The term “Person” means and includes an individual, a corporation, a partnership, an association, a trust, an unincorporated organization or a government or political subdivision thereof.
The term “Qualified United States Financial Institution” means an institution that (1) is organized, or in the case of a United States branch or agency office of a foreign banking organization, licensed under the laws of the United States or any state thereof and has been granted authority to operate with fiduciary powers; and (2) is regulated, supervised, and examined by federal or state authorities having regulatory authority over banks and trust companies.
The term “Retrocession Binder” means that certain binding commitment agreement, dated as of [__], by and among the Beneficiary and the Grantor.
The term “Representative” of a Person shall mean the directors, officers, employees, advisors, agents, consultants, independent accountants, investment bankers, counsel or other representatives of such Person and of such Person’s Affiliates.

The term “Servicing Agreement” means any servicing agreement entered into by the Grantor and any third party with respect to any Commercial Mortgage Loan.
The term “Trailing Document” means those Loan Assignment Documents referenced in subclauses (a)(ii) and (iii) and (b)(ii) of the definition thereof.
The term “Trustee Loan Assignment Documents” means, with respect to (a) any whole Commercial Mortgage Loan, documents substantially similar to the Loan Assignment Documents pertaining to such whole Commercial Mortgage Loan, (and with respect to the allonge, attaching the original Loan Assignment Allonge and Note), (b) any participated Commercial Mortgage Loan, an original Participation Certificate, and (c) in either case, any other required transfer documents,  in each case provided to the Trustee by the Person requesting the release of the applicable Commercial Mortgage Loan, for execution in appropriate form.
The term “Underlying Asset” means any property or other asset serving as collateral for any Commercial Mortgage Loan.
Section 15.    Governing Law.  Except for the rights, duties, privileges, immunities and standard of care of the Trustee, which shall be governed by the laws of the State of the New York without regard to its conflict of laws or principles, and as otherwise expressly provided herein, the provisions of and validity and construction of this Agreement and any amendments thereto shall be governed by and construed in accordance with the laws of the State of Connecticut without regard to its conflict of laws provision, and the Trust Account created hereunder shall be administered in accordance with the laws of said state. Each of the Parties hereby submits to the personal jurisdiction of and each agrees that all proceedings relating hereto shall be brought in courts located within the City and State of New York.
Section 16.    WAIVER OF JURY TRIAL.  EACH PARTY HERETO HEREBY WAIVES TRIAL BY JURY IN ANY JUDICIAL PROCEEDING INVOLVING, DIRECTLY OR INDIRECTLY, ANY MATTER (WHETHER SOUNDING IN TORT, CONTRACT OR OTHERWISE) IN ANY WAY ARISING OUT OF OR RELATED TO THIS AGREEMENT OR THE RELATIONSHIP ESTABLISHED HEREUNDER. THIS PROVISION IS A MATERIAL INDUCEMENT FOR THE PARTIES TO ENTER INTO THIS AGREEMENT.
Section 17.    Dispute Resolution.  Except as otherwise specifically provided in Section 2(h), or in the event that the Beneficiary delivers a Notice of Exclusive Control to the Trustee, in the event of any dispute between or conflicting claims by or between the Grantor, the Beneficiary and the Direct Insurer and/or any other Person or entity with respect to any Assets, the Trustee shall be entitled, in its sole discretion, to refuse to comply with any and all claims, demands or instructions with respect to such Assets so long as such dispute or conflict shall continue, and the Trustee shall not be or become liable in any way to the Grantor, the Beneficiary or the Direct Insurer for failure or refusal to comply with such conflicting claims, demands or instructions.  The Trustee shall be entitled to refuse to act until, in its sole discretion, either (a) such conflicting or adverse claims or demands shall have been determined by a final order, judgment or decree of a court of competent jurisdiction, which order, judgment or decree is not subject to appeal, or settled by agreement between the conflicting parties as evidenced in a writing satisfactory to the Trustee or (b) the Trustee shall have received security or an indemnity satisfactory to it sufficient to hold it harmless from and against any and all Losses which it may incur by reason of so acting.  The Trustee may, in addition, elect, in its sole discretion, to commence an interpleader action or seek other judicial relief or orders as it may deem, in its sole discretion, necessary.  The costs and expenses (including reasonable attorneys’ fees and expenses) incurred in connection with such proceeding shall be paid by, and shall be deemed a joint and several obligation of, the Grantor, the Beneficiary and the Direct Insurer.
Section 18.    Successors and Assigns.  This Agreement shall be binding upon and inure to the benefit of the Parties and their respective successors, permitted assigns and legal Representatives. Neither this Agreement, nor any right or obligation hereunder, may be assigned by any Party without the prior written 

consent of the other Parties hereto. Any assignment in violation of this Section 18 shall be void and shall have no force and effect.
Section 19.    Severability.  If any provision of this Agreement is held to be void or unenforceable, in whole or in part, (a) such holding shall not affect the validity and enforceability of the remainder of this Agreement, including any other provision, paragraph or subparagraph, and (b) the Parties agree to attempt in good faith to reform such void or unenforceable provision to the extent necessary to render such provision enforceable and to carry out its original intent.
Section 20.    Entire Agreement.  This Agreement constitutes the entire agreement among the Parties with respect to the subject matter hereof, and there are no understandings or agreements, conditions or qualifications relative to this Agreement which are not fully expressed in this Agreement or the Retrocession Agreement.
Section 21.    Amendments.  This Agreement may be modified or otherwise amended, and the observance of any term of this Agreement may be waived, only if such modification, amendment or waiver is in writing and signed by the Parties.
Section 22.    Notices.  All notices, requests, instructions, directions, demands and other communications under this Agreement must be in writing and will be deemed to have been duly given or made as follows: (a) if sent by registered or certified mail in the United States, return receipt requested, or by reputable overnight air courier, upon receipt; (b) if sent by facsimile transmission, with a copy mailed on the same day in the manner provided in (a) above, when transmitted; or (c) if otherwise actually personally delivered, when delivered, and shall be delivered as follows:

If to the Grantor:
[___]
If to the Direct Insurer:
[___]
If to the Beneficiary:
Commonwealth Annuity and Life Insurance Company
20 Guest Street
Brighton, MA  02135
Facsimile:  (508) 460-2401
Attention:  Joel Volcy, Managing Director and Chief Operating Officer
With a copy to:
Commonwealth Annuity and Life Insurance Company
20 Guest Street
Brighton, MA  02135
Facsimile: (508) 460-2401
Attention:  Samuel Ramos, Esq., General Counsel and Secretary
If to the Trustee:
[___]
or to such other address or to such other Person as a Party may have last designated by notice to the other Parties.

Section 23.    Headings.  The headings of the Sections have been inserted for convenience of reference only and shall not be deemed to constitute a part of this Agreement.
Section 24.    Counterparts.  This Agreement may be executed in any number of counterparts, each of which when so executed and delivered shall constitute an original, but such counterparts together shall constitute but one and the same Agreement.
Section 25.    USA Patriot Act.  The Grantor, the Beneficiary and the Direct Insurer hereby acknowledge that the Trustee is subject to federal laws, including the Customer Identification Program (“CIP”) requirements under the USA PATRIOT Act and its implementing regulations, pursuant to which the Trustee must obtain, verify and record information that allows the Trustee to identify the Grantor, the Beneficiary and the Direct Insurer. Accordingly, prior to opening the Trust Account hereunder, the Trustee will ask the Grantor, the Beneficiary and the Direct Insurer to provide certain information including, but not limited to, the Grantor’s, the Beneficiary’s and the Direct Insurer’s name, physical address, tax identification number and other information that will help the Trustee to identify and verify the Grantor’s, the Beneficiary’s and the Direct Insurer’s identity such as organizational documents, certificate of good standing, license to do business, or other pertinent identifying information. Each of the Grantor, the Beneficiary and the Direct Insurer agrees that the Trustee cannot open the Trust Account hereunder unless and until the Trustee verifies the Grantor’s, the Beneficiary’s and the Direct Insurer’s identity in accordance with the Trustee’s CIP.
Section 26.    Representations.  Each Party represents and warrants to the others that it has full authority to enter into this Agreement upon the terms and conditions hereof and that the individual executing this Agreement on its behalf has the requisite authority to bind such Party to this Agreement, and that the Agreement constitutes a binding obligation of such Party enforceable in accordance with its terms.
Section 27.    Required Disclosure.  The Trustee is authorized to supply any information regarding the Trust Account and related Assets that is required by any law, regulation or rule now or hereafter in effect. Each of the Grantor, the Beneficiary and the Direct Insurer agrees to supply the Trustee with any required information if it is not otherwise reasonably available to the Trustee, except for information that is subject to the obligation of confidentiality and is not required by the Trustee to comply with any applicable law, regulation or rule now or hereafter in effect.
Section 28.    Shareholder Communication Act, Etc.  With respect to securities issued in the United States, the Shareholders Communications Act of 1985 (the “Act”) requires Trustee to disclose to the issuers, upon their request, the name, address and securities position of its Grantor who are (a) the “beneficial owners” (as defined in the Act) of the issuer’s securities, if the beneficial owner does not object to such disclosure, or (b) acting as a “respondent bank” (as defined in the Act) with respect to the securities. (Under the Act, “respondent banks” do not have the option of objecting to such disclosure upon the issuers’ request.) The Act defines a “beneficial owner” as any Person who has, or shares, the power to vote a security (pursuant to an agreement or otherwise), or who directs the voting of a security. The Act defines a “respondent bank” as any bank, association or other entity that exercises fiduciary powers which holds securities on behalf of beneficial owners and deposits such securities for safekeeping with a bank, such as Trustee. Under the Act, Grantor is either the “beneficial owner” or a “respondent bank.”
[___] Grantor is the “beneficial owner,” as defined in the Act, of the securities to be held by Trustee hereunder.
[___] Grantor is not the beneficial owner of the securities to be held by Trustee, but is acting as a “respondent bank,” as defined in the Act, with respect to the securities to be held by Trustee hereunder.
IF NO BOX IS CHECKED, TRUSTEE SHALL ASSUME THAT GRANTOR IS THE BENEFICIAL OWNER OF THE SECURITIES.
For beneficial owners of the securities only:

[___] Grantor objects 

[___] Grantor does not object to the disclosure of its name, address and securities position to any issuer which requests such information pursuant to the Act for the specific purpose of direct communications between such issuer and Grantor.
IF NO BOX IS CHECKED, TRUSTEE SHALL RELEASE SUCH INFORMATION UNTIL IT RECEIVES A CONTRARY WRITTEN INSTRUCTION FROM GRANTOR.
With respect to securities issued outside of the United States, information shall be released to issuers only if required by law or regulation of the particular country in which the securities are located.
The Grantor agrees to disseminate in a timely manner any proxies or requests for voting instructions, other proxy soliciting material, information statements, and/or annual reports that it receives to any other beneficial owners.
Section 29.    Information Sharing.
The Bank of New York Mellon Corporation is a global financial organization that operates in and provides services and products to clients through its affiliates and subsidiaries located in multiple jurisdictions (the “BNY Mellon Group”). The BNY Mellon Group may (a) centralize in one or more affiliates and subsidiaries certain activities (the “Centralized Functions”), including audit, accounting, administration, risk management, legal, compliance, sales, product communication, relationship management, and the compilation and analysis of information and data regarding the Grantor, the Beneficiary and the Direct Insurer (which, for purposes of this provision, is the name and business contact information for the Grantor’s, the Beneficiary’s and the Direct Insurer’s respective employees and Representatives) and the accounts established pursuant to this Agreement (“Account Information”) and (b) use third party service providers to store, maintain and process Account Information (“Outsourced Functions”). Notwithstanding anything to the contrary contained elsewhere in this Agreement and solely in connection with the Centralized Functions and/or Outsourced Functions, the Grantor’s, the Beneficiary’s and the Direct Insurer’s respective consent to the disclosure of, and authorize BNY Mellon to disclose Account Information to (i) other members of the BNY Mellon Group (and their respective officers, directors and employees) and to (ii) third-party service providers (but solely in connection with Outsourced Functions) who are required to maintain the confidentiality of the Grantor’s, the Beneficiary’s and the Direct Insurer’s Account Information in furtherance of the Trustee’s performance of its obligations hereunder.  In addition, the BNY Mellon Group may aggregate Account Information with other data collected and/or calculated by the BNY Mellon Group, and the BNY Mellon Group will own all such aggregated data, provided that the BNY Mellon Group shall not distribute the aggregated data in a format that identifies Account Information with the Grantor, the Beneficiary and the Direct Insurer specifically.  The Grantor, the Beneficiary and the Direct Insurer each as to itself also consent to the disclosure of the Grantor’s, the Beneficiary’s and the Direct Insurer’s Account Information to governmental and regulatory authorities in jurisdictions where the BNY Mellon Group operates and otherwise as required by law.
Section 30.    Successors and Assigns of Trustee.
Any corporation or other company into which the Trustee may be merged or converted or with which it may be consolidated, or any corporation or other company resulting from any merger, conversion or consolidation to which the Trustee shall be a party, or any corporation or other company succeeding to the business of the Trustee shall be the successor of the Trustee hereunder without the execution or filing of any paper with any party hereto or any further act on the part of any of the parties hereto, except where an instrument of transfer or assignment is required by law to effect such succession, anything herein to the contrary notwithstanding.
[The rest of this page intentionally left blank.]

IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be executed and delivered by their respective officers thereunto duly authorized as of the date first above written.
COMMONWEALTH ANNUITY AND LIFE 
INSURANCE COMPANY, as Beneficiary

By:    
Name:  
Title:

[___], as Direct Insurer

By:    
Name:  
Title:

[RETROCESSIONAIRE], as Grantor

By:    
Name:
Title:

 [THE BANK OF NEW YORK MELLON], as Trustee

By:     
Name:  
Title:

EXHIBIT A
BENEFICIARY REQUEST FOR WITHDRAWAL

The undersigned, the [insert position] and a duly authorized officer of Commonwealth Annuity and Life Insurance Company (“Beneficiary”), does hereby certify that, pursuant to Section 2 of the Trust Agreement dated as of [___], 2018, entered into by and among the Beneficiary, [___] (“Direct Insurer”), [___] (the “Grantor”) and [The Bank of New York Mellon] (the “Trustee”) (the “Trust Agreement”) and the Annuity Retrocession Agreement dated as of [___], 2018, between the Beneficiary and the Grantor (the “Retrocession Agreement”), the Beneficiary is entitled to withdraw from the Trust Account (as defined in the Trust Agreement) established by the Grantor for the benefit of the Beneficiary and the Direct Insurer pursuant to the Trust Agreement, Assets with a current fair market value equal to $[_______] for the purpose[s] specified in Section 9.8(a) of the Retrocession Agreement.
[Certification to specify the basis for the withdrawal.]
Beneficiary hereby requests that the Trustee immediately transfer to [the Beneficiary] [such designee of the Beneficiary] [Account No. [•]] all right, title and interest in those Assets set forth on Schedule A attached hereto (which Assets have a fair market value equal to $[_____]) from the Trust Account established by Commonwealth for  the benefit of Beneficiary pursuant to the Trust Agreement. [Insert transfer instructions.]
This Certificate is a “Beneficiary Request for Withdrawal” within the meaning of Section 2(a) of the Trust Agreement.
Please notify the Grantor within two (2) Business Days of delivery of the withdrawn Assets.
	
		
	 
	COMMONWEALTH ANNUITY AND LIFE INSURANCE COMPANY

	 
	 

	 
	 

	Dated:
	 

	 
	Name:

	 
	Title:

cc: Grantor
cc: Direct Insurer

EXHIBIT B
DIRECT INSURER REQUEST FOR WITHDRAWAL
The undersigned, the [insert position] and a duly authorized officer of [___] (“Direct Insurer”), does hereby request that, pursuant to Section 2 of the Trust Agreement dated as of [___], 2018, entered into by and among the Direct Insurer, Commonwealth Annuity and Life Insurance Company (“the Beneficiary”), [___] (the “Grantor”) and The Bank of New York Mellon (the “Trustee”) (the “Trust Agreement”) and the Annuity Retrocession Agreement dated as of [___], 2018, between the Grantor and the Beneficiary (the “Retrocession Agreement”), the Direct Insurer is entitled to withdraw from the Trust Account (as defined in the Trust Agreement) established by the Grantor for the benefit of the Direct Insurer and The Beneficiary pursuant to the Trust Agreement, Assets with a current fair market value equal to $[_______] for the purpose[s] specified in Section 9.8(b) of the Retrocession Agreement.
[Certification to specify the basis for the withdrawal.]
Direct Insurer hereby requests that the Trustee immediately transfer to the Beneficiary all right, title and interest in those Assets set forth on Schedule A attached hereto (which Assets have a fair market value equal to $[_____]) from the Trust Account established by Commonwealth for  the benefit of Beneficiary pursuant to the Trust Agreement. [Insert transfer instructions.]
This Certificate is a “Direct Insurer Request for Withdrawal” within the meaning of Section 2(b) of the Trust Agreement.
Please notify the Grantor within two (2) Business Days of delivery of the withdrawn Assets.
	
		
	 
	[DIRECT INSURER]

	 
	 

	 
	 

	Dated:
	 

	 
	Name:

	 
	Title:

cc: Grantor
cc: Beneficiary

EXHIBIT C
GRANTOR REQUEST FOR WITHDRAWAL
The undersigned, the [insert position] and a duly authorized officer of [___] (the “Grantor”), does hereby certify that, pursuant to Section 2 of the Trust Agreement dated as of [___], 2018, entered into by and among Commonwealth Annuity and Life Insurance Company (“Beneficiary”), Grantor, [___] (“Direct Insurer”), and [The Bank of New York Mellon] (the “Trustee”) (the “Trust Agreement”) and the Annuity Retrocession Agreement dated as of [___], 2018, between Beneficiary and Grantor (the “Retrocession Agreement”), Grantor is entitled to withdraw from the Trust Account (as defined in the Trust Agreement) established by the Grantor for the benefit of the Beneficiary and the Direct Insurer pursuant to the Trust Agreement, Assets with a current fair market value equal to $[_____]. 
[Grantor hereby directs the Trustee to immediately deliver to [Grantor or its designee] [the Assets specified below] [and] [cash in the amount of $[_____]].  Grantor hereby attaches a copy of the applicable Monthly Reinsurance Settlement Report and hereby certifies that the conditions described in Section 9.6 of the Retrocession Agreement and Section 2(e)(i) of the Trust Agreement have been met.] [Note: for use if the proviso set forth in Section 9.6 applies.]
[Grantor hereby directs the Trustee to deliver to [Grantor or its designee] [the Assets specified below] [and] [cash in the amount of $[_____], immediately following the fifth (5th) Business Day after the date hereof unless Beneficiary or Direct Insurer shall have objected to such withdrawal in writing within such five (5) Business Day period.] [Note:  for use if the proviso set forth in Section 9.6 does not apply.]
[Insert transfer instructions]
This Certificate is a “Grantor Request for Withdrawal” within the meaning of Section 2(e) of the Trust Agreement.
Please notify the Beneficiary and the Direct Insurer within two (2) Business Days of delivery of the withdrawn Assets.
	
		
	 
	[GRANTOR]

	 
	 

	 
	 

	Dated:
	 

	 
	Name:

	 
	Title:

With copy to:  [Note:  for use if the proviso set forth in Section 9.6 does not apply.]
[Beneficiary]
[Address]
Facsimile:
Attention:

AND

[Direct Insurer]
[Address]
Facsimile:
Attention:      

EXHIBIT D
PROVISIONS OF THE RETROCESSION AGREEMENT
AND UNDERLYING REINSURANCE AGREEMENT
Set forth below is the text of the provisions of the Retrocession Agreement (the “Agreement”) that are referenced in this Trust Agreement.
Retrocession Agreement
Certain Definitions
“Adjusted MV Percentage” means, as of a given date, the percentage set forth in Schedule L applicable to such date.
“Affiliate” means, with respect to any Person, any other Person that directly or indirectly controls, is controlled by, or is under common control with, such Person.  “Control” (including the terms, “controlled by” and “under common control with”) means the possession, directly or indirectly, of the power to direct or cause the direction of the management and policies of a Person, whether through the ownership of voting securities, by contract or credit arrangement, as trustee or executor, or otherwise.
“[REDACTED]” means [REDACTED] or any successor thereto.  
“Book Value” means, with respect to Trust Account assets, at any date of determination, the amount stated for such assets on the Reinsurer’s statutory financial statements determined in accordance with then applicable statutory accounting principles.
“Business Day” means any day other than a Saturday, Sunday or other day on which banks in the Commonwealth of Massachusetts, the City of New York, New York or [______] are permitted or required to be closed.
“Business Covered” means the in-force block of Retroceded Contracts retroceded under this Agreement.
“Company” means Commonwealth Annuity and  Life Insurance Company, a life insurance company organized under the laws of the Commonwealth of Massachusetts.
“Covered Liabilities” shall have the meaning specified in the Underlying Reinsurance Agreement.
“Direct Insurer” means [___], a Connecticut-domiciled life insurer.
“Closing Date” means the date on which this Agreement is executed and delivered by the parties hereto.
“Effective Date” means the first calendar day of the month during which the Closing Date occurs.
“Eligible Trust Account Assets” means assets that comply with the Investment Guidelines.
“Extracontractual Obligations” means all Liabilities for (i) any fines, penalties, settlements, taxes, fees, forfeitures, costs or expenses or any compensatory, punitive, exemplary, special, treble, bad 

faith, tort, statutory or any other form of extra-contractual damages, or portion thereof, as well as all legal fees and expenses relating thereto, relating to, but not arising under the express terms and conditions of, or in excess of the applicable payment provisions or coverage limits of, the Retroceded Contracts, whether to contractholders, insureds, producers, agents, brokers, distributors, Governmental Authorities or any other Person, which arise from any actual or alleged act, error or omission committed by or on behalf of the Direct Insurer or Company, whether or not intentional, negligent, malicious, fraudulent, unlawful, in bad faith or otherwise, including, any act, error or omission of such Person, relating to (a) the form, marketing, sale, underwriting, production, issuance, cancellation, offering of elections or options under, or administration of, the Retroceded Contracts, (b) the investigation, defense, trial, settlement or handling of claims, benefits or payments in respect of any Retroceded Contracts, (c) the failure to pay, the delay in payment or errors in calculating or administering the payment of benefits, claims or any other amounts due or alleged to be due under or in connection with any Retroceded Contracts or (d) the failure of any of the Retroceded Contracts to qualify for their intended tax status and (ii) ex-gratia payments made by or on behalf of the Direct Insurer or Company.
“Governmental Authority” means any foreign or national government, any state or other political subdivision thereof or any self-regulatory authority, and any entity exercising executive, legislative, judicial, regulatory or administrative functions of or pertaining to government.
“Interest Maintenance Reserve” means the sum of (a) the Company’s existing interest maintenance reserve that is attributable to the Reinsured Risks immediately prior to the Closing Date, after giving effect to the execution of the Underlying Reinsurance Agreement, plus (b) the Company’s  interest maintenance reserve that is created on the Closing Date as a direct result of the transactions contemplated by this Agreement, plus (c) the amount of the interest maintenance reserve attributable to the Reinsured Risks that is created after the Closing Date and including the reserve established in Deemed Sales under Section 9.7, in each case determined in accordance with SAP applicable to the Company. 
“Market Value” means, with respect to any asset, the fair market value thereof as determined by the Reinsurer in good faith in accordance with the Market Value Methods.
“Market Value Methods” shall have the meaning specified in Schedule K.
“Market Value Required Balance” means, as of any given date, an amount equal to the product of (a) the Adjusted MV Percentage as of such date, times (b) the Reinsurer’s Quota Share of the NAIC Reserves as of such date.
“Milliman” means Milliman LLP or any successor thereto.
“Monthly Accounting Period” means each calendar month, provided that the initial Monthly Accounting Period shall commence on the Effective Date and end on the last day of the calendar month in which the Effective Date falls [alternatively, “shall be deemed to end on [___]”], and the final Monthly Accounting Period shall commence on the first day of the calendar month in which the Termination Date falls and end on the Termination Date.
“NAIC Reserves” means, as of any given date, an amount equal to the gross statutory reserves that are required to be held by the Company for purposes of its statutory financial statements with respect to the Retroceded Liabilities, determined in accordance with SAP applicable to the Company.

“Person” means any natural person, firm, limited liability company, general partnership, limited partnership, joint venture, association, corporation, trust, Governmental Authority or other entity.
“RBC Ratio” means, as of any given date, the ratio of (i) Total Adjusted Capital (as defined in the NAIC Risk Based Capital (RBC) Model Act, or in the rules and procedures prescribed by the NAIC with respect thereto, as in effect as of such date) to (ii) Company Action Level RBC (as defined in the NAIC Risk Based Capital (RBC) Model Act, or in the rules and procedures prescribed by the NAIC with respect thereto, as in effect as of such date).
“RBC Reporting Deadline” means, with respect to any calendar year, the date that is sixty (60) calendar days after the end of such calendar year and with respect to any calendar quarter, the date that is forty-five (45) calendar days after the end of such calendar quarter.
“Reinsurance Credit Event” means an event that causes the Company to be unable, for any reason attributable to the Reinsurer or a change in Applicable Law, to take full statutory financial statement credit for the reinsurance provided by this Agreement.  
“Reinsurer” means [Retrocessionaire], a life insurance company organized under the laws of [__].
“Reinsurer’s Quota Share” means [REDACTED].
“Reinsured Risks” means the Reinsurer’s Quota Share of the Retroceded Liabilities incurred by the Company.
“Required Balance” means, as of any given date, an amount equal to (x) of the sum of (a) the Reinsurer’s Quota Share of the NAIC Reserves plus (b) the Unamortized Interest Maintenance Reserve, where (i) other than following the occurrence and during the continuance of a Triggering Event, (x) equals [REDACTED]; and (ii) following the occurrence and during the continuance of a Triggering Event, (x) equals [REDACTED].
“Retroceded Contracts” means those contracts in force on the Effective Date ceded to the Company pursuant to the Underlying Reinsurance Agreement that are set out in Schedule A under the heading “Business Covered” and as listed, together with the NAIC Reserves in respect thereof, on an electronic bordereaux, delivered by the Company to the Reinsurer on the Closing Date, and any such contract reinstated after the Effective Date in accordance with the terms of the Underlying Reinsurance Agreement, but excluding any such contract that has been novated from the Direct Insurer to the Reinsurer.
“Retroceded Liabilities” means all liability of the Company for Covered Liabilities pursuant to and in accordance with the Underlying Reinsurance Agreement, but only to the extent, and insofar as, such Covered Liabilities relate to the Retroceded Contracts (including any Retroceded Contract reinstated in accordance with the terms of the Underlying Reinsurance Agreement); provided, that Retroceded Liabilities shall not include any Extracontractual Obligations other than any such Extracontractual Obligation for which the Reinsurer received prior notice of and the Reinsurer has expressly concurred, in writing, with the actions taken or not taken, or to be taken or not taken, by the Direct Insurer that led to the assessment of such Extracontractual Obligation.
“SAP” means, as to any insurance company, the statutory accounting practices prescribed by the Insurance Regulator in the jurisdiction in which such company is domiciled, consistently applied by such company.

“Termination Date” means the effective date of any termination of this Agreement as provided in Section 10.2.
“Third Party Actuary” means Milliman; provided if Milliman refuses or is otherwise not available to act in such capacity, the Third Party Actuary means a nationally recognized independent actuarial firm mutually agreed upon by the parties hereto; provided, that if the parties are unable to mutually agree on an actuarial firm within ten (10) Business Days from the date on which Milliman shall have provided the parties with notice of such refusal or unavailability, the parties hereto shall jointly request the President of the Society of Actuaries to appoint, within ten (10) Business Days from the date of such request, a nationally recognized actuarial firm independent of the Company, the Direct Insurer and the Reinsurer and their respective Affiliates to serve as the Third Party Actuary.
“Triggering Event” means any of the following occurrences:
(a) the Reinsurer’s RBC Ratio as of any quarter-end is below [REDACTED] and the Reinsurer has not cured such shortfall by the date that is twenty (20) calendar days after the applicable RBC Reporting Deadline; 
(b) there has been a failure by the Reinsurer to pay any undisputed amounts due hereunder within the due dates specified in this Agreement, or to fund the Trust Account in any undisputed amount required by Section 9.5 within the time required to fund the Trust Account; 
(c) a Reinsurance Credit Event has occurred and is continuing;
(d) the financial strength rating of the Reinsurer by [REDACTED]or below or has been withdrawn; provided that such downgrade or withdrawal has not occurred because (i) [REDACTED] has ceased to exist or has ceased to publicly provide financial strength ratings for U.S. life insurance companies generally or (ii) [REDACTED]has changed its financial strength ratings scale (in which case the closest equivalent of a [REDACTED] rating as of the date hereof will be applicable for this clause (d)); 
(e) any Guarantor fails to perform any of its obligations under the Guarantee applicable to such Guarantor and such Guarantor fails to cure such breach within twenty (20) Business Days after the date on which the Reinsurer or such Guarantor becomes aware of such breach, including but not limited to, the date on which the Company notifies the Reinsurer in writing of such breach; or
(f) the Reinsurer has been placed into liquidation, rehabilitation, conservation, supervision, receivership or similar proceedings (whether voluntary or involuntary), or there has been instituted against it proceedings for the appointment of a receiver, liquidator, rehabilitator, conservator or trustee in bankruptcy, or other agent known by whatever name, to take possession of its assets or assume control of its operations. 
“Trust Account” means the trust account established by the Reinsurer, as grantor, for the benefit of the Company and the Direct Issuer, and governed by the Trust Agreement.
“Trust Account Balance” means, as of a given date, the aggregate Book Value of all assets in the Trust Account, including accrued interest, on such date, determined in the manner set forth in Section 9.2.

“Trust Assets” means, as of a given date, the assets held in the Trust Account as of such date.
“Trustee” means the trustee of the Trust Account.
“Unamortized Interest Maintenance Reserve” means, with respect to any date of determination, the Reinsurer’s share of the Interest Maintenance Reserve which remains unamortized as of such date, determined in accordance with SAP applicable to the Reinsurer without giving effect to any retrocession by the Reinsurer.
“Underlying Reinsurance Agreement” means that certain Annuity Reinsurance Agreement, dated as of the date hereof, by and between the Direct Insurer, as ceding company, and the Company, as reinsurer, a copy of which is attached hereto at Exhibit 2.
Section 6.1
Section 6.1    Monthly Reinsurance Settlement Reports. 
(a)    As soon as practicable but not more than nine (9) Business Days following the end of each Monthly Accounting Period ending after the Effective Date (or, if later, within two (2) Business Days after delivery to the Company of the corresponding report under the Underlying Reinsurance Agreement), the Company shall deliver to the Reinsurer a monthly reinsurance settlement report in the form of Schedule G-1  (the “Monthly Reinsurance Settlement Report”) and seriatim data reports substantially in the form of Schedule G-2 (collectively, the “Monthly Reports”).
Section 9.5
Section 9.5.  Rebalancing the Trust Account.  
(a)    With respect to any calendar month after the Closing Date: 
(i) if the Trust Account Balance as of the end of such calendar month is less than the Required Balance set forth in the certificate contemplated by Section 6.2(b) for such calendar month, then the Reinsurer shall deposit additional Eligible Trust Account Assets into the Trust Account within ten (10) Business Days following the date such shortfall is determined so that the Trust Account Balance is no less than the Required Balance set forth in such certificate (after giving effect to any deposit made following the end of such calendar month pursuant to Section 9.5(b)); and 
(ii) if, after giving effect to the deposit, if any, into the Trust Account of Eligible Trust Account Assets pursuant to clause (i) of this Section 9.5(a) and to any deposit made following the end of such calendar month pursuant to Section 9.5(b), the Market Value of the Eligible Trust Account Assets held in the Trust Account as of the end of such calendar month is less than the Market Value Required Balance as of the end such calendar month, then Reinsurer shall deposit additional Eligible Trust Account Assets into the Trust Account within ten (10) Business Days following the date such shortfall is determined so that the Market Value of Eligible Trust Account Assets then held in the Trust Account is no less than the Market Value Required Balance. 
(b)    If, on the day a Triggering Event occurs, the Trust Account Balance (calculated as of such day) is less than the Required Balance after giving effect to the Triggering Event (calculated as of the end of the month immediately preceding the month during which the Triggering Event occurs), 

then the Reinsurer, on the fifth (5th) Business Day after the Triggering Event shall have occurred, shall deposit additional Eligible Trust Account Assets into the Trust Account so that the Trust Account Balance as of such day is no less than the Required Balance after giving effect to the Triggering Event as of the end of the month immediately preceding the month during which the Triggering Event occurred. For the avoidance of doubt, this Section 9.5(b) shall apply from time to time only if and so long as a Triggering Event remains in effect.
Section 9.6
Section 9.6.  Trust Account Withdrawals by the Reinsurer. 
(a)    If, as of any month end on and after the Closing Date, (x) the Trust Account Balance exceeds the Required Balance, then within ten (10) Business Days after the Reinsurer’s receipt of a Monthly Reinsurance Settlement Report for such month end, the Reinsurer may make a written demand to the Trustee, substantially in the form as attached to the Trust Agreement, to release to the Reinsurer assets in the Trust Account and the Trustee shall release such assets, subject to the Company’s prior written consent, which consent shall be required to be granted if all of, and only, the following conditions and those set forth in clause (x) above are satisfied after any such withdrawal and shall be deemed granted if the Company has not provided the Reinsurer and Trustee a good faith written response within five (5) Business Days of receipt of Reinsurer’s written demand (which response, if a rejection of such demand, shall specify in reasonable detail the reasons for such rejection): (i) no Recapture Event has occurred and is continuing (unless a recapture in respect of such Recapture Event is no longer exercisable); (ii) the Book Value, including accrued interest for so long as such interest is credited by the Trustee, of the Trust Account assets shall be no less than the Required Balance, (iii) the ratio of Market Value to Book Value of the aggregate Eligible Trust Account Assets in the Trust Account immediately following the withdrawal shall not be less than such ratio on the Business Day immediately prior to such withdrawal, (iv) after such withdrawal, the Market Value of the Eligible Trust Account Assets, including accrued interest, is no less than the Market Value Required Balance; and (v) all the assets held in the Trust Account after such withdrawal are Eligible Trust Account Assets; provided, however, that with respect to any withdrawal and transfer of cash in connection with the payment by the Reinsurer of an amount specified in a Monthly Reinsurance Settlement Report, if the conditions in (x) and (i) through (v) are all met, the Reinsurer may direct the Trustee to release such cash to the Company without prior notice to or approval by the Company, upon presentation to the Trustee of (1) a copy of the applicable Monthly Reinsurance Settlement Report delivered by the Company to the Reinsurer and (2) a certification to the Trustee, with a copy to the Company, that such conditions are met.
(b)    The Reinsurer covenants and agrees that it will not deliver a Reinsurer Withdrawal Notice to the Trustee to withdraw from the Trust Account all or any part of the Trust Assets and transfer such assets to the Reinsurer unless all the conditions set forth in Section 9.6(a) have been met.
(c)    In the event there is a dispute between the Company and the Reinsurer with respect to the Reinsurer’s rights to deliver a Reinsurer Withdrawal Notice and withdraw Trust Assets pursuant to this Section 9.6, the parties shall use their commercially reasonable efforts to negotiate a resolution of such dispute.  Should for any reason the dispute not be resolved within fifteen (15) Business Days after the Reinsurer receives notice from the Company disputing the amount requested for withdrawal by the Reinsurer in the Reinsurer Withdrawal Notice, such dispute shall be submitted to a Third Party Actuary in accordance with the procedures that apply to disputes with the Company by the Reinsurer with respect to Monthly Reinsurance Settlement Reports pursuant to Section 6.1. Until the final resolution of such dispute hereunder, the Reinsurer may not withdraw Trust Assets, provided, however, 

that to the extent the Company does not dispute Reinsurer’s right to withdraw a portion of the Trust Assets, the Reinsurer may deliver a Reinsurer Withdrawal Notice to the Trustee and withdraw any such undisputed amounts. 
(d)    If, notwithstanding the foregoing, a withdrawal is made in excess of the amount permitted by this Section 9.6, such excess amount (including interest paid or accrued thereon) shall be deemed to be held by the Reinsurer in constructive trust for the benefit of the Company and the Reinsurer shall return such excess amount (including interest paid or accrued thereon) to the Trust Account within one (1) Business Day following the date the Reinsurer becomes aware, or reasonably should have been aware, of such excess withdrawal.
Section 9.7
Section 9.7.  Substitution of Assets.  The Reinsurer may at any time, by written request to the Trustee and the prior written consent of the Company (which consent shall not be unreasonably withheld, conditioned or delayed), substitute or exchange assets contained within the Trust Account with other Eligible Trust Account Assets (such substituted or exchanged Eligible Trust Account Assets are referred to herein as “Replacement Assets”).   The Reinsurer represents and warrants that (a) the assets contained within the Trust Account (including any such Replacement Assets) shall remain Eligible Trust Account Assets following such substitution or exchange; (b) the Book Value, including accrued interest, and Market Value, including accrued interest, of such Replacement Assets that are deposited in or credited to the Trust Account shall be at least equal to the Book Value, including accrued interest, and Market Value, including accrued interest, respectively, of the assets contained within the Trust Account being removed from the Trust Account; (c) the difference, whether positive or negative, between Market Value, including accrued interest, and Book Value, including accrued interest, of the assets being removed from the Trust Account will be treated as a realized gain or loss, respectively, and new Interest Maintenance Reserve will be established in accordance with SAP for such realized gain or loss for the purposes of this Agreement (“Deemed Sale”); (d) the Replacement Assets shall be deposited into the Trust Account prior to or simultaneously with the removal of assets from the Trust Account in connection with any such substitution or exchange; and (e) the Reinsurer shall not make any substitutions under this Section 9.7 if it is in default in any material respect under any provision of this Agreement or the Trust Agreement.  Any written request provided by the Reinsurer pursuant to this Section 9.7 shall include the Reinsurer’s representation and warranty that such substitution or exchange meets the requirements of this Section 9.7.  Notwithstanding the foregoing, if an asset in the Trust Account no longer qualifies as an Eligible Trust Account Asset, then, within five (5) Business Days following the date on which the Reinsurer becomes aware of such circumstance, the Reinsurer shall replace such asset with one or more Eligible Trust Account Assets meeting the requirements of this Section 9.7.
Section 9.8
Section 9.8.  Permitted Use of Trust Account Assets. 
(a)    The Company shall be permitted to withdraw assets from the Trust Account only if (x) a Recapture Event has occurred and is continuing and (y) the Reinsurer has not paid an amount in full that is due and owing (or, if part of the amount is disputed in good faith, the undisputed portion) to the Company under this Agreement and any applicable payment period respect thereof (or, to the extent of the portion of the payment under good faith dispute, the dispute resolution period afforded the Reinsurer has expired); and then only for one or more of the following purposes: (1) to reimburse 

the Company for undisputed amounts due by, but not yet recovered from the Reinsurer under this Agreement in order to satisfy liabilities of the Reinsurer under this Agreement; and (2) to pay reasonable out-of-pocket expenses relating to the withdrawal, liquidation or enforcement of legal rights with respect to the Trust Account assets to the extent such amounts are not being disputed by the Reinsurer in good faith.  The Company may so withdraw assets from the Trust Account by written request to the Trustee signed by an authorized representative of the Company, substantially in the form as attached to the Trust Agreement (the “Company Withdrawal Notice”), to withdraw Trust Assets from the Trust Account.  The Company Withdrawal Notice shall be deemed to be a certification by the Company to the Trustee that the requirements of this Section 9.8(a) are satisfied, signed by a duly authorized officer of the Company.  Simultaneously with the Company submitting such written request to the Trustee, the Company shall provide written notice to the Reinsurer of its request to withdraw Trust Assets from the Trust Account together with a completed Company Withdrawal Notice for such proposed withdrawal in substantially the form of Exhibit 3.  A Company Withdrawal Notice shall specify the Trust Assets to be withdrawn and an instruction to the Trustee as to how such specified Trust Assets shall be delivered.  The Company may from time to time designate a third party (the “Company Designee”) in a Company Withdrawal Notice to whom all or part of the Trust Assets specified therein shall be delivered. The Company shall acknowledge receipt of any such Trust Assets withdrawn upon request by the Trustee.  Any Company Withdrawal Notice provided by the Company pursuant to this Section 9.8 shall be deemed to be a certification that the withdrawal meets the requirements of this Section 9.8.
(b)    The Direct Insurer shall be permitted to withdraw assets from the Trust Account, subject to the following sentence, only if (x) a Recapture Event (as defined in the Underlying Reinsurance Agreement) has occurred and is continuing and (y) the Company shall have failed to pay to the Direct Insurer an amount that is due to the Direct Insurer under the Underlying Reinsurance Agreement where such amount constitutes a Retroceded Liability (a “Direct Insurer Claim Amount”), following written notice to the Company of its failure to pay the Direct Insurer Claim Amount and the Company’s failure to pay such Direct Insurer Claim Amount within the applicable cure period set forth in the Underlying Reinsurance Agreement.  If the conditions in the preceding sentence are satisfied, then the Direct Insurer shall be permitted to withdraw from the Trust Account in an amount not to exceed the Reinsurer’s Quota Share of the Direct Insurer Claim Amount.  The Company acknowledges and agrees that if (i) the Direct Insurer withdraws from the Trust Account in the circumstances permitted by this Section 9.8(b) and (ii) the Reinsurer disputes in good faith that the Reinsurer’s Quota Share of the Direct Insurer Claim Amount is an amount for which the Reinsurer is liable under this Agreement, then, pending resolution of such dispute between the Company and the Reinsurer, the Company shall promptly deposit into the Trust Account Eligible Trust Account Assets having a Book Value and a Market Value equal to the disputed portion of the amount withdrawn by the Direct Insurer.
Adjusted MV Percentage (Schedule L to the Retrocession Agreement)
See Schedule 1 to this Exhibit D.
Form of Monthly Reinsurance Settlement Report (Schedule G-1 to the Retrocession Agreement)
See Schedule 2 to this Exhibit D.
Market Value Methods (Schedule K to the Retrocession Agreement)
See Schedule 3 to this Exhibit D.

SCHEDULE 1 TO EXHIBIT D
ADJUSTED MV PERCENTAGE 
The Adjusted MV Percentage shall equal 100% as of the Effective Time. At each subsequent time, the Adjusted MV Percentage shall equal:
		
	a)
	100%, minus

		
	b)
	(i) divided by (ii):

		
	(i)
	The Unamortized Interest Maintenance Reserve as of the Effective Date minus the Unamortized Interest Maintenance Reserve as of such date of determination 

		
	(ii)
	The Unamortized Interest Maintenance Reserve as of the Effective Date plus Reinsurer’s Quota Share of NAIC Reserves as of the Effective Date.

Below is an illustration of the calculation:
	
						
	 
	Reinsurer’s Quota Share of NAIC Reserves
	Unamortized Interest Maintenance Reserve
	 
	Adjusted MV Percentage

	 
	 
	Calculation
	Value

	Effective Date
	1000
	100
	 
	=100%-(100-100)/(100+1000)
	100%

	Time 1
	900
	60
	 
	=100%-(100-60)/(100+1000)
	96%

	Time 2
	800
	20
	 
	=100%-(100-20)/(100+1000)
	93%

	Time 3
	700
	0
	 
	=100%-(100-0)/(100+1000)
	91%

SCHEDULE 2 TO EXHIBIT D
MONTHLY REINSURANCE SETTLEMENT REPORT

[see attached.]

SCHEDULE 3 TO EXHIBIT D
MARKET VALUE METHODS
In determining the market value of any Eligible Asset, the Reinsurer shall use prices published by using the “Pricing Services Hierarchy” below for assets for which such prices are available, and for assets for which such prices are not available, the Reinsurer shall determine the market value (the “Unpublished Market Value”) of such assets in accordance with the methodologies used by the Reinsurer in determining the market value of assets of the same or similar type as such assets held in its own general account (other than the Trust Assets).

If the Company disputes the Reinsurer’s determination of an Unpublished Market Value of any asset, and the parties are unable to resolve such dispute within ten (10) calendar days of the origination of such dispute, then the Unpublished Market Value of such asset shall be determined by a Valuation Expert, provided, that the Valuation Expert’s determination of Unpublished Market Value shall be within the range of the values provided by the Reinsurer and the Company (inclusive of such values), and, in each case, the parties shall be bound by such determination. Until such time as the Valuation Expert has determined the Unpublished Market Value in dispute, the applicable Unpublished Market Value shall be as determined by the Reinsurer. All fees, costs and expenses relating to the foregoing shall be paid in equal shares by the parties hereto.

Pricing Services Hierarchy

Reinsurer shall use prices published by Interactive Data Corporation (or any successor organization) or, for assets as to which Interactive Data Corporation (or any successor organization) does not, at such time, provide prices, then such prices published by (in the following priority):
		
	1.
	Barclays Capital’s “Barclays Index” pricing service

		
	2.
	Any other nationally recognized pricing service provider as the Company shall approve (such approval not to be unreasonably withheld)

EXHIBIT E
BENEFICIARY CERTIFICATION OF WITHDRAWAL
The undersigned, the [insert position] and a duly authorized officer of Commonwealth Annuity and Life Insurance Company (“Beneficiary”), does hereby certify that, pursuant to Section 2 of the Trust Agreement dated as of [___], 2018, entered into by and among [___] (“Grantor”), [___] (“Direct Insurer”), Beneficiary and [The Bank of New York Mellon] (the “Trustee”) (the “Trust Agreement”) and the Annuity Retrocession Agreement dated as of [___], 2018, between Beneficiary and Grantor (the “Retrocession Agreement”), Beneficiary has withdrawn from the Trust Account (as defined in the Trust Agreement) established by Grantor for the benefit of Beneficiary and Direct Insurer pursuant to the Trust Agreement, Assets with a current fair market value equal to $[_____].  Beneficiary hereby certifies that the conditions described in Section 9.8(a) of the Retrocession Agreement have been met. 

	
		
	 
	COMMONWEALTH ANNUITY AND LIFE INSURANCE COMPANY

	 
	 

	 
	 

	Dated:
	 

	 
	Name:

	 
	Title:

EXHIBIT F
DIRECT INSURER CERTIFICATION OF WITHDRAWAL
The undersigned, the [insert position] and a duly authorized officer of [___] (“Direct Insurer”), does hereby certify that, pursuant to Section 2 of the Trust Agreement dated as of [___], 2018, entered into by and among  [___] (“Grantor”), Direct Insurer, Commonwealth Annuity and Life Insurance Company (“Beneficiary”) and [The Bank of New York Mellon] (the “Trustee”) (the “Trust Agreement”) and the Annuity Retrocession Agreement dated as of [___], 2018, between Beneficiary and Commonwealth (the “Retrocession Agreement”), Direct Insurer has withdrawn from the Trust Account (as defined in the Trust Agreement) established by Grantor for the benefit of Beneficiary and Direct Insurer pursuant to the Trust Agreement, Assets with a current fair market value equal to $[_____].  Direct Insurer hereby certifies that the conditions described in Section 9.8(b) of the Retrocession Agreement have been met. 
	
		
	 
	[DIRECT INSURER]

	 
	 

	 
	 

	Dated:
	 

	 
	Name:

	 
	Title:

EXHIBIT G
GRANTOR CERTIFICATION OF WITHDRAWAL
The undersigned, the [insert position] and a duly authorized officer of [___] (the “Grantor”), does hereby certify that, pursuant to Section 2 of the Trust Agreement dated as of [___], 2018, entered into by and among  Grantor, [___] (“Direct Insurer”), Commonwealth Annuity and Life Insurance Company (“Beneficiary”) and [The Bank of New York Mellon] (the “Trustee”) (the “Trust Agreement”) and the Annuity Retrocession Agreement dated as of [___], 2018, between Beneficiary and Commonwealth (the “Retrocession Agreement”), Grantor has withdrawn from the Trust Account (as defined in the Trust Agreement) established by Grantor for the benefit of Beneficiary and Direct Insurer pursuant to the Trust Agreement, Assets with a current fair market value equal to $[_____].  Grantor hereby attaches a copy of the applicable Monthly Reinsurance Settlement Report and hereby certifies that the conditions described in Section 9.6 of the Retrocession Agreement have been met.
	
		
	 
	[GRANTOR]

	 
	 

	 
	 

	Dated:
	 

	 
	Name:

	 
	Title:

EXHIBIT H
INVESTMENT GUIDELINES
Capitalized terms used in these Investment Guidelines that are not defined herein shall have the meanings ascribed to such terms in the Retrocession Agreement.  

The Reinsurer shall be responsible for complying with the terms of the Investment Guidelines outlined below.  These Investment Guidelines shall apply to the management of the Investment Assets.

In addition to these Investment Guidelines, all Investment Assets must qualify as admitted assets for life insurance companies under the insurance laws of the State of Connecticut and the Commonwealth of Massachusetts.

Eligible Investments:  The Reinsurer shall have full authority to buy and sell the Investment Assets as described below unless specifically limited or restricted by these Investment Guidelines or by Applicable Law:
		
	i.
	[REDACTED].

Prohibited Investments:  The Reinsurer may not invest in:
		
	i.
	[REDACTED]. 

In addition, the Reinsurer may not incur indebtedness (through margin or otherwise) in the Funds Withheld Account or the OC Trust Account; provided that, for the avoidance of doubt, this limitation shall not prohibit the Reinsurer from acquiring investments or instruments otherwise permitted pursuant to these Investment Guidelines.
Any asset sector not listed as an Eligible Investment above may nevertheless be approved as an Eligible Investment subject to prior written approval of the Company (such approval to be at the sole discretion of the Company).
Compliance and Exceptions:
These Investment Guidelines shall be applied at the time the Funds Withheld Account or the OC Trust Account are initially funded to ensure compliance.  Additionally, the portfolio of Investment Assets shall be monitored periodically, as set forth below, to ensure compliance with these Investment Guidelines on a maintenance basis.
As soon as practicable, but not more than five (5) Business Days (or such longer reasonable period, if mutually agreeable), following the receipt by the Reinsurer of the Monthly Reinsurance Settlement Report, the Reinsurer shall supply the Company with a compliance report that demonstrates the Reinsurer’s compliance with these Investment Guidelines as of the previous month end.
In the event that any Investment Asset, or the portfolio as a whole, exceeds or otherwise fails to comply with these Investment Guidelines, the Reinsurer shall promptly notify the Company and, unless otherwise directed by the Company, take corrective action to correct such noncompliance or failure promptly but not longer than within ten (10) Business Days after such non-compliance is determined.
OTTI Reporting:
Within ten (10) Business Days following the end of each calendar quarter, the Reinsurer shall supply the Company with its assessment of OC Trust Assets as to impairment, which shall include any assessments prepared by any investment manager appointed by the Reinsurer to manage any OC Trust Assets and relied upon in the Reinsurer’s OTTI assessments.

If the Company, based on its review of such reports, notifies the Reinsurer that any OC Trust Assets would be considered impaired under the Company’s OTTI policy, then the Book Value of such OC Trust Assets shall be marked down to equal the Market Value of such OC Trust Assets for purposes of determining whether the Book Value of the OC Trust Assets is at least equal to the OC Amount.
Investment Limits:
All limits referred to herein are with respect to Book Value. All limits are maintenance limits that must be cured or agreed to by the Company in accordance with Compliance and Exceptions above.
		
	•
	All ratings herein refer to NRSRO Ratings, unless an NAIC Rating is specified

		
	•
	Single issuer exposure limits Structured Product single issuer limits will be based on the equivalent NAIC Rating. (the US federal government and agencies are excluded from these limits):

		
	◦
	[REDACTED]

		
	•
	Duration of assets no less than [REDACTED]

		
	•
	All Investment Assets must carry an NAIC Rating

		
	•
	All Investment Assets must be denominated in U.S. Dollars

		
	•
	[REDACTED]

		
	•
	[REDACTED]

		
	•
	[REDACTED]

		
	•
	Asset allocation limits:

	
		
	Asset Class
	Limits

	U.S. Treasuries, agencies, cash equivalents, etc.
	[REDACTED]

	 
	 

	NAIC Class 1 Corporate Bonds (AAA through A-)
	[REDACTED]

	BBB Corporate Bonds
	[REDACTED]

	Emerging market Corporate Bonds
	[REDACTED]

	Below investment grade Corporate Bonds
	[REDACTED]

	Total Corporate Bonds
	[REDACTED]

	Note: BBB Corporate Bond limit of [REDACTED]Investment Grade Corporate bond limit of [REDACTED] are separate and mutually exclusive of each other.
	 

	 
	 

	Asset Class
	Limits

	Agency MBS
	[REDACTED]

	Non-Agency RMBS
	[REDACTED]

	CMBS
	[REDACTED]

	CLOs
	[REDACTED]

	ABS
	[REDACTED]

	Total Structured Products
	[REDACTED]

	 
	 

	CML
	[REDACTED]

	 
	 

	Municipal Bonds (investment grade)
	[REDACTED]

	 
	 

	Alternative Assets - debt funds only 
	[REDACTED]

	 
	 

	All other assets
	[REDACTED]

	 
	 

	 
	 

	Additional restrictions that apply to all the assets above
	 

	Aggregate amount of Structured Products rated NAIC 3 and ABS/CLOs rated non-investment grade by a NRSRO
	[REDACTED]

	Structured Products rated NAIC 4-6
	[REDACTED]

	Aggregate amount of Structured Products rated NAIC 3 and ABS/CLOs rated non-investment grade by a NRSRO, Alternative Assets (debt focused funds only) and below investment grade Corporate Bonds (which can be BB only)
	[REDACTED]

	Private Placements (excl. 144A registered securities, Reg S, Reg D and CML)
	[REDACTED]

	Corporate bond 144A Reg S and Reg D securities
	[REDACTED]

WARF Limit:
The portfolio WARF of the Investment Assets must be no greater than the WARF Limit. The following scale will be utilized for computing the WARF weighted by the Book Value of each asset. 
	
		
	Asset Class and Rating
	WARF Score

	Corporates, Emerging Markets, Municipal Bonds and Private Placements
	 

	AAA Rated
	[REDACTED]

	AA Rated
	[REDACTED]

	A Rated
	[REDACTED]

	BBB Rated
	[REDACTED]

	BB Rated
	[REDACTED]

	B Rated
	[REDACTED]

	CCC Rated
	[REDACTED]

	D Rated
	[REDACTED]

	Structured Products rated NAIC 1 or 2 (excluding ABS/CLOs rated non-investment grade by a NRSRO)
	[REDACTED]

	Structured Products rated NAIC 3 and ABS/CLOs rated non-investment grade by a NRSRO
	[REDACTED]

	CML
	[REDACTED]

	Alternative Assets
	[REDACTED]

Defined Terms:
Capitalized terms used in these Investment Guidelines that are not defined in the Agreement shall have the following meanings:
“Alternative Assets” means limited partnerships, hedge funds, real estate equity, private equity, and equity-linked investments generally filed on Schedule BA of a U.S. insurance company’s statutory financial statement.
“Asset-Backed Securities” or “ABS” means securitized fixed income securities backed by pools of collateral including loans, receivables, advances, tangible assets, and operating lease assets, and collateralized bond obligations/CLOs; but, excluding such securities backed by CMBS and RMBS.
“CLOs” means collateralized loan obligations.
“Commercial Mortgage Backed Securities” or “CMBS” means securitized fixed income securities backed by pools of collateral consisting of commercial real estate mortgage loans.

“Commercial Mortgage Loan” or “CML” or “Residential Mortgage Loan” or “RML” means direct lending supported by commercial and residential real estate properties, respectively.  
“Corporate Bonds” means public bonds (including U.S. agency and corporate bonds) but not including U.S. Treasuries or Structured Products.
“Derivative Instruments” shall include interest rate swaps, credit default swaps, currency swaps, interest rate caps and floors, equity options, and other derivatives used for hedging, replication, and income generation purposes.
“Municipal Bonds” means taxable and tax-exempt bonds issued by municipals.
“NAIC Rating” means the credit rating designation of 1, 2, 3, 4, 5 or 6 assigned to a security in accordance with the Purpose and Procedures manual of the Securities Valuation Office of the NAIC. All references to NAIC ratings shall be on the NAIC ratings scale as of the Effective Date. Any subsequent changes to the NAIC ratings scale will not affect these limits.
“Private Placements” means bonds or loans that have not been issued through a public offering.
“Residential Mortgage-Backed Securities” or “RMBS” means securitized fixed income securities backed by pools of collateral consisting of residential real estate mortgage loans (including agency and non-agency mortgage- backed securities and home equity).  
“Structured Products” means all loan-backed or securitized asset types defined above including ABS, CMBS, and RMBS.
“U.S. Treasuries” means U.S. federal government debt securities issued by the Department of the Treasury.
“WARF” means weighted average rating factor.
“WARF Limit” means [REDACTED] 

EXHIBIT I
FORM OF GRANTOR SERVICING NOTICE

From:    [•] (“Grantor”)
To:    The Bank of New York Mellon (“Trustee”)
cc:    Commonwealth Annuity and Life Insurance Company (“Beneficiary”)
[___] (“Direct Insurer”)
Date:    [  ]
		
	Re:
	Grantor Servicing Notice

We refer to Section 4(j) of the Trust Agreement. All capitalized terms used herein and not otherwise defined herein shall have the meanings set forth in the Trust Agreement.

We hereby (a) certify that (i) the transfer of the following [Asset or Assets] is required in connection with [the pay-off of the following Commercial Mortgage Loan] / [the sale of the following Commercial Mortgage Loan by the Grantor] / [the restructuring, foreclosure, deed-in-lieu or other liquidation of the following defaulted Commercial Mortgage Loan] and (ii) that the proceeds from the transfer of such [Asset or Assets] will be paid to the Trustee within three (3) Business Days, and (b) give you notice that we are exercising our right withdraw the following [Assets or Assets] from the Trust Account.  
Please deliver the following [Asset or Assets] to or for the account of the Person named below at the address specified below:
The Trustee is instructed to deliver to the Grantor the undated Loan Assignment Documents and original promissory note applicable to Commercial Mortgage Loan No. ____________].
You shall not take any action under this notice until the passage of three (3) Business Days from your receipt hereof.

GRANTOR
By:             
Name:    
Title:    

EXHIBIT J
FORM OF LOAN ASSIGNMENT DOCUMENT CERTIFICATION

From:    [[•] (“Grantor) / [•] (“Direct Insurer”)]
To:    The Bank of New York Mellon (“Trustee”)
cc:    [[•] (“Grantor) / Commonwealth Annuity and Life Insurance Company (“Beneficiary”) / [•] (“Direct Insurer”)]
Date:    [  ]
Re:    Loan Assignment Documentation Certification: Trust Account No. [___________]
We hereby certify that, in connection with the deposit of [Commercial Mortgage Loan] into the Trust Account, the following documents and instruments are being provided to the Trustee: 
i.            [Original allonge executed in favor of the Trustee, attaching the original Note and any prior Note assignment documents
		
	ii.        
	Copies of the Assignment of the [[Mortgage]/[Deed of Trust] and Assignment of Leases and Rents] executed in favor of the Trustee 

iii.       Copies of the UCC-3 assignments of Secretary of State Filings and Fixture Filings, as to the Trustee
iv.            Omnibus Assignment Agreement in favor of the Trustee, executed in favor of the Trustee]
v.    [Original Participation Certificate and a copy of the Participation Agreement]
vi.    Original Document Release Letter

All capitalized terms used herein and not otherwise defined herein shall have the meanings set forth in the Trust Agreement.

[GRANTOR]/[DIRECT INSURER]
By:             
Name:    
Title:

EXHIBIT K
FORM OF DOCUMENT RELEASE LETTER
		
	[Servicer]
	Date:             

		
	Re:
	Servicing Agreement dated as of [______], between [Servicer] for [•], and affiliate organizations, as the Owner.  Trust Account No. [________]

In connection with the administration of the below commercial mortgage loan(s) serviced by you and the servicing file related thereto held by you as the Servicer on behalf of the Owner, we request and authorize the release of the servicing file for the [Loan] described below to the Bank of New York Mellon as Trustee (the “Trustee”) under the Trust Agreement dated as of [___], 2018, entered into by and among  [•] (“Grantor”), [•] (“Direct Insurer”), Commonwealth Annuity and Life Insurance Company (“Beneficiary”) and [The Bank of New York Mellon] (the “Trustee”), to the Beneficiary or to the Direct Insurer, in each case upon request of the Trustee.  Capitalized terms used herein and not otherwise defined shall have the meanings set forth in the Servicing Agreement.

Borrower’s Name:        
Property Name & Address:    

Loan Number:                

Note Amount:            

Mortgage Dated:        

Ship To:  
___________________________________________
___________________________________________
___________________________________________
___________________________________________

Reason for Requesting Documents (check one):
X Asset Loan to be: Sold, Transferred or Otherwise Liquidated - Date:    

If all or part of the servicing file was previously released to us, please release to us previous correspondence related thereto on file with you, as well as any additional documents in your possession relating to the specified [Loan].

[GRANTOR]

By:        ____________________            
Name/Title:    ____________________

The undersigned Servicer hereby acknowledges its agreement to deliver the Servicing File to .

[Servicer]
By:        ____________________

EXHIBIT 3
ELIGIBLE TRUST ACCOUNT ASSETS INVESTMENT GUIDELINES
The Reinsurer shall have full authority to buy and sell investments for the Trust Account unless specifically limited or restricted by these investment guidelines or by the insurance laws and regulations of the State of Connecticut or the Commonwealth of Massachusetts (as in effect from time to time) (for purposes of this Exhibit 3, “Insurance Laws”).  The foregoing summary is intended to serve as a guide and any and all investments must (i) comply with the more restrictive of such Insurance Laws, including, but not limited to, Conn. Gen. Statute Section 38a-102c and Massachusetts Ins. Code Section 175:63 and (ii) be considered “admitted assets” under the Insurance Laws.  For purposes of applying these guidelines, the assets held in the Trust Account will be considered all of the assets of a life insurance company writing the Reinsured Contracts.
In addition, the Reinsurer may not incur indebtedness (through margin or otherwise) in the Trust Account; provided that, for the avoidance of doubt, this limitation shall not prohibit the Reinsurer from acquiring investments or instruments otherwise permitted pursuant to these investment guidelines.
Investment Limits
All limits referred to herein are with respect to statutory book value.  
	
			
	Asset Class Limitations
	 
	Limit

	US obligations
	 
	 [REDACTED]

	US state/municipal obligations
	 
	 [REDACTED]

	US agency obligations
	 
	

[REDACTED]

	Canadian municipal and agency obligations
	 
	

[REDACTED]

	NAIC 1-2 corporate bonds
	 
	 [REDACTED]

	Total financial companies/banks obligations
	 
	 [REDACTED]

	NAIC 1-2 structured securities
	 
	 [REDACTED]

	Common stock/futures/LPs
	 
	 [REDACTED]

	Investments in affiliates
	 
	 [REDACTED]

	Emerging markets
	 
	 [REDACTED]

	Qualified mortgage loans
	 
	 [REDACTED]

	Cash & repo
	 
	 [REDACTED]

	Obligations to all foreign countries rated lower than AA
	 
	 [REDACTED]

	Aggregate foreign obligations and investments (regardless of rating)
	 
	 [REDACTED]

	Tangible investments, non-income producing real estate & portion of loan secured by unqualified mortgage loans
	 
	 [REDACTED]

	Securities registered under Securities Act of 1933 not rated NAIC 1-2
	 
	 [REDACTED]

	
			
	Limitations on Obligations With Ratings from the SVO of the NAIC
	 
	Limit

	NAIC 3-6
	 
	 [REDACTED]

	NAIC 4-6
	 
	 [REDACTED]

	NAIC 5-6
	 
	 [REDACTED]

	NAIC 6
	 
	 [REDACTED]

	
			
	Concentration Limits in Single Obligor
	 
	Limit

	Issued or guaranteed by any agency, state, development bank (excl. general obligations of any state)
	 
	 [REDACTED]

	NAIC 1-2 (maturity greater than 1yr)
	 
	 [REDACTED]

	NAIC 3-6
	 
	 [REDACTED]

	NAIC 4-6
	 
	 [REDACTED]

	Securities registered under Securities Act of 1933 not rated NAIC 1-2
	 
	 [REDACTED]

	Obligations to each foreign country rated AA or higher
	 
	 [REDACTED]

	Obligations to each foreign country rated lower than AA
	 
	 [REDACTED]

	Common stock, LP interest or other equity interests (incl. preferred stock) in single institution
	 
	 [REDACTED]

	Real Estate investment or other tangible investment
	 
	 [REDACTED]

    

ANNEX A-1
ASSETS IN CONNECTION WITH ESTIMATED INITIAL REINSURANCE PREMIUM PART A
[see attached]

	
																			
	CUSIP   
	Position Description
	Legal Entity
	Portfolio
	

UniqueID
	Face Val USD   
	Par/Shares USD
	Book Value (NAIC   Statement Value) USD
	Market Value 
USD
	WAL
	

Sector
	Subsector
	Effective Rating
	Effective Rating2

	78413MAG3
	SFAVE_15-5AVE     XA 144A
	Hartford Life and Annuity Insurance Company
	PA2
	PA278413MAG3
	63,986,000
	

	63,986,000
	

	4,008,202
	

	3,563,892
	

	17.51
	

	 CMBS
	 CMBS IO
	 AAA
	 AAA

	61766RBA3
	MSBAM_16-C31    XA
	Hartford Life and Annuity Insurance Company
	PA2
	PA261766RBA3
	16,500,000
	

	16,485,597
	

	1,631,440
	

	1,601,493
	

	8.31
	

	 CMBS
	 CMBS IO
	 Aaa
	 AAA

	032511BB2
	ANADARKO PETROLEUM CORPORATION
	Hartford Life and Annuity Insurance Company
	PA2
	PA2032511BB2
	5,350,000
	

	5,350,000
	

	2,169,499
	

	2,163,069
	

	19.78
	

	 Corporates
	 Industrial
	 BBB
	 BBB

	358266CJ1
	FRESNO CNTY CA TXBL PENS 04A FGIC
	Hartford Life and Annuity Insurance Company
	PA2
	PA2358266CJ1
	28,023,300
	

	28,023,300
	

	12,372,469
	

	13,755,237
	

	14.63
	

	 Corporates
	 Tax Muni
	 A
	 A

	736679LD1
	PORTLAND OR TXBL PENSION CAB MBIA
	Hartford Life and Annuity Insurance Company
	PA2
	PA2736679LD1
	15,070,950
	

	15,070,950
	

	8,422,085
	

	9,896,189
	

	10.42
	

	 Corporates
	 Tax Muni
	 Aa1
	 AA

	358266CB8
	FRESNO CNTY CA TXBL PENS 04A FGIC
	Hartford Life and Annuity Insurance Company
	PA2
	PA2358266CB8
	5,350,000
	

	5,350,000
	

	3,509,135
	

	3,907,801
	

	7.63
	

	 Corporates
	 Tax Muni
	 A
	 A

	20030NBU4
	COMCAST CORPORATION
	Hartford Life and Annuity Insurance Company
	PA2
	PA220030NBU4
	3,049,500
	

	3,049,500
	

	2,657,363
	

	2,663,165
	

	29.54
	

	 Corporates
	 Industrial
	 A-
	 A

	60636AMS9
	MISSOURI ST HEALTH & EDL FACS
	Hartford Life and Annuity Insurance Company
	PA2
	PA260636AMS9
	1,926,000
	

	1,926,000
	

	1,926,000
	

	1,610,425
	

	34.71
	

	 Corporates
	 Tax Muni
	 Aaa
	 AAA

	92343VDC5
	VERIZON COMMUNICATIONS INC
	Hartford Life and Annuity Insurance Company
	PA2
	PA292343VDC5
	4,161,230
	

	4,161,230
	

	4,159,040
	

	3,766,005
	

	29.63
	

	 Corporates
	 Industrial
	 BBB+
	 BBB

	912810RS9
	TREASURY BOND (2OLD)
	Hartford Life and Annuity Insurance Company
	PA2
	PA2912810RS9
	570,000
	

	570,000
	

	555,568
	

	506,543
	

	29.38
	

	 TSY
	 Govt
	 Govt
	 Govt

	167486PG8
	CHICAGO ILL TAXBL REF
	Hartford Life and Annuity Insurance Company
	PA2
	PA2167486PG8
	7,918,000
	

	7,918,000
	

	7,005,217
	

	6,419,281
	

	24.12
	

	 Corporates
	 Tax Muni
	 BBB-
	 BBB

	9128282A7
	TREASURY NOTE (OLD)
	Hartford Life and Annuity Insurance Company
	PA2
	PA29128282A7
	10,770,000
	

	10,770,000
	

	10,529,564
	

	9,905,460
	

	9.63
	

	 TSY
	 Govt
	 Govt
	 Govt

	74913EAJ9
	QWEST CAPITAL FUNDING
	Hartford Life and Annuity Insurance Company
	PA2
	PA274913EAJ9
	4,125,000
	

	4,125,000
	

	3,889,006
	

	3,753,750
	

	14.13
	

	 BIG Corporates
	 HY Industrials
	 BB
	 BIG

	912828U24
	TREASURY NOTE (OTR)
	Hartford Life and Annuity Insurance Company
	PA2
	PA2912828U24
	4,830,000
	

	4,830,000
	

	4,655,764
	

	4,647,175
	

	9.88
	

	 TSY
	 TSY
	 Govt
	 govt

	BHM1J8QC4
	ELECTRIC TRANSMISSION TEXAS LLC Prvt
	Hartford Life and Annuity Insurance Company
	PA2
	PA2BHM1J8QC4
	10,000,000
	

	10,000,000
	

	10,000,000
	

	9,324,800
	

	19.21
	

	 Corporates
	 Utilities
	 Baa1
	 BBB

	92343VCV4
	VERIZON COMMUNICATIONS INC
	Hartford Life and Annuity Insurance Company
	PA2
	PA292343VCV4
	12,572,500
	

	12,572,500
	

	11,974,956
	

	12,033,467
	

	19.04
	

	 Corporates
	 Industrial
	 BBB+
	 BBB

	12623SAS9
	COMM_12-CR5      D 144A
	Hartford Life and Annuity Insurance Company
	PA2
	PA212623SAS9
	3,745,000
	

	3,745,000
	

	3,886,418
	

	3,521,551
	

	5.94
	

	 CMBS
	 CMBS
	 Baa1
	 BBB

	BHM15X6S1
	HTFD CONCORDVIL   PN Prvt
	Hartford Life and Annuity Insurance Company
	PA2
	PA2BHM15X6S1
	40,000,000
	

	40,000,000
	

	40,000,000
	

	36,676,184
	

	14.62
	

	 CML
	 CML
	 A2
	 A

	BHM1KXMB3
	VIRGINIA INTERNATIONAL GATEWAY INC Prvt
	Hartford Life and Annuity Insurance Company
	PA2
	PA2BHM1KXMB3
	43,759,615
	

	43,759,615
	

	43,759,615
	

	42,221,903
	

	22.96
	

	 Corporates
	 Industrial
	 A-
	 A

	BHM0MZCQ6
	DESERT SUNLIGHT FUNDING I-GTD Prvt
	Hartford Life and Annuity Insurance Company
	PA2
	PA2BHM0MZCQ6
	17,142,857
	

	16,139,792
	

	16,139,792
	

	15,703,372
	

	13.19
	

	 Agency
	 FDIC Guaranteed
	 AAA
	 AAA

	540424AR9
	LOEWS CORPORATION
	Hartford Life and Annuity Insurance Company
	PA2
	PA2540424AR9
	2,800,725
	

	2,800,725
	

	2,689,248
	

	2,686,982
	

	26.38
	

	 Corporates
	 Financial
	 A
	 A

	552081AM3
	LYONDELLBASELL INDUSTRIES NV
	Hartford Life and Annuity Insurance Company
	PA2
	PA2552081AM3
	8,244,350
	

	8,244,350
	

	8,112,354
	

	7,661,013
	

	38.16
	

	 Corporates
	 Industrial
	 BBB
	 BBB

	912810RU4
	TREASURY BOND (OTR)
	Hartford Life and Annuity Insurance Company
	PA2
	PA2912810RU4
	2,180,000
	

	2,180,000
	

	2,079,926
	

	2,104,722
	

	29.88
	

	 TSY
	 Govt
	 Govt
	 Govt

	BHM0M67U7
	HTFD RREEF IND    PN Prvt
	Hartford Life and Annuity Insurance Company
	PA2
	PA2BHM0M67U7
	3,804,742
	

	3,804,742
	

	3,804,742
	

	3,667,148
	

	8.42
	

	 CML
	 CML
	 A2
	 A

	718172AT6
	PHILIP MORRIS INTERNATIONAL INC
	Hartford Life and Annuity Insurance Company
	PA2
	PA2718172AT6
	10,000,000
	

	10,000,000
	

	9,487,588
	

	9,784,650
	

	5.64
	

	 Corporates
	 Industrials
	 A
	 A

	912828U57
	TREASURY NOTE (OLD)
	Hartford Life and Annuity Insurance Company
	PA2
	PA2912828U57
	560,000
	

	560,000
	

	557,336
	

	556,281
	

	6.92
	

	 TSY
	 TSY
	 Govt
	 govt

	3132WEB43
	MBS
	Hartford Life and Annuity Insurance Company
	PA2
	PA23132WEB43
	846,000
	

	806,834
	

	828,583
	

	802,005
	

	9.47
	

	 MBS
	 MBS
	 Govt
	 govt

	3132WED25
	MBS
	Hartford Life and Annuity Insurance Company
	PA2
	PA23132WED25
	1,590,000
	

	1,545,382
	

	1,590,182
	

	1,536,127
	

	9.47
	

	 MBS
	 MBS
	 Govt
	 govt

	3138WG5Q3
	MBS
	Hartford Life and Annuity Insurance Company
	PA2
	PA23138WG5Q3
	3,544,000
	

	3,451,412
	

	3,555,573
	

	3,432,478
	

	9.43
	

	 MBS
	 MBS
	 Govt
	 govt

	3138WHFN7
	MBS
	Hartford Life and Annuity Insurance Company
	PA2
	PA23138WHFN7
	591,000
	

	579,307
	

	595,623
	

	576,129
	

	9.43
	

	 MBS
	 MBS
	 Govt
	 govt

	3140F5QW6
	MBS
	Hartford Life and Annuity Insurance Company
	PA2
	PA23140F5QW6
	824,000
	

	796,465
	

	818,995
	

	792,096
	

	9.43
	

	 MBS
	 MBS
	 Govt
	 govt

	3138WHFR8
	MBS
	Hartford Life and Annuity Insurance Company
	PA2
	PA23138WHFR8
	2,029,000
	

	1,941,001
	

	1,994,959
	

	1,930,353
	

	9.43
	

	 MBS
	 MBS
	 Govt
	 govt

	3140F5MJ9
	MBS
	Hartford Life and Annuity Insurance Company
	PA2
	PA23140F5MJ9
	126,000
	

	118,161
	

	121,542
	

	117,513
	

	9.43
	

	 MBS
	 MBS
	 Govt
	 govt

	
																			
	95000HBH4
	WFCM_16-LC24    AS
	Hartford Life and Annuity Insurance Company
	PA2
	PA295000HBH4
	4,000,000
	

	4,000,000
	

	4,117,036
	

	3,866,676
	

	9.63
	

	 CMBS
	 CMBS
	 Aa2
	 AA

	969457BU3
	WILLIAMS COS INC
	Hartford Life and Annuity Insurance Company
	PA2
	PA2969457BU3
	2,822,000
	

	2,822,000
	

	2,690,555
	

	2,723,230
	

	6.04
	

	 BIG Corporates
	 HY Industrials
	 BB
	 BIG

	912828U65
	TREASURY NOTE (OLD)
	Hartford Life and Annuity Insurance Company
	PA2
	PA2912828U65
	560,000
	

	560,000
	

	555,901
	

	555,822
	

	4.92
	

	 TSY
	 TSY
	 Govt
	 govt

	00287YAQ2
	ABBVIE INC
	Hartford Life and Annuity Insurance Company
	PA2
	PA200287YAQ2
	5,000,000
	

	5,000,000
	

	5,209,899
	

	4,952,440
	

	8.37
	

	 Corporates
	 Industrials
	 Baa2
	 BBB

	74456QBQ8
	PUBLIC SERVICE ELECTRIC AND GAS CO MTN
	Hartford Life and Annuity Insurance Company
	PA2
	PA274456QBQ8
	2,675,000
	

	2,675,000
	

	2,666,911
	

	2,596,039
	

	29.17
	

	 Corporates
	 Utilities
	 A+
	 A

	05565QCD8
	BP CAPITAL MARKETS PLC
	Hartford Life and Annuity Insurance Company
	PA2
	PA205565QCD8
	2,273,750
	

	2,273,750
	

	2,138,032
	

	2,232,250
	

	6.36
	

	 Corporates
	 Industrial
	 A-
	 A

	92343VCM4
	VERIZON COMMUNICATIONS INC
	Hartford Life and Annuity Insurance Company
	PA2
	PA292343VCM4
	5,940,105
	

	5,940,105
	

	4,730,702
	

	5,908,991
	

	37.64
	

	 Corporates
	 Industrial
	 BBB+
	 BBB

	BHM1ANBZ5
	VERIZON CORPORATE SERVICES GROUP I Prvt
	Hartford Life and Annuity Insurance Company
	PA2
	PA2BHM1ANBZ5
	7,000,000
	

	6,769,181
	

	6,769,181
	

	6,733,913
	

	11.46
	

	 Corporates
	 Industrial
	 Baa1
	 BBB

	12629NAJ4
	COMM_15-DC1      B
	Hartford Life and Annuity Insurance Company
	PA2
	PA212629NAJ4
	6,420,000
	

	6,420,000
	

	6,582,035
	

	6,380,562
	

	8.03
	

	 CMBS
	 CMBS
	 AA-
	 AA

	BHM13T3U0
	HTFD ELEMENT AT   PN Prvt
	Hartford Life and Annuity Insurance Company
	PA2
	PA2BHM13T3U0
	31,000,000
	

	29,874,605
	

	29,874,605
	

	28,724,780
	

	10.96
	

	 CML
	 CML
	 A2
	 A

	260543CG6
	DOW CHEMICAL COMPANY (THE)
	Hartford Life and Annuity Insurance Company
	PA2
	PA2260543CG6
	7,735,565
	

	7,735,565
	

	7,182,473
	

	7,509,068
	

	25.88
	

	 Corporates
	 Industrial
	 BBB
	 BBB

	BHM0NS7F1
	KONINKLIJKE VOPAK NV       Prvt
	Hartford Life and Annuity Insurance Company
	PA2
	PA2BHM0NS7F1
	5,000,000
	

	5,000,000
	

	5,000,000
	

	4,989,900
	

	6.47
	

	 Corporates
	 Industrials
	 Baa2
	 BBB

	76112B2D1
	RAMP_06-RS2    A3A
	Hartford Life and Annuity Insurance Company
	PA2
	PA276112B2D1
	2,585,000
	

	2,322,506
	

	2,079,268
	

	2,136,102
	

	4.71
	

	 ABS
	 Home Equity
	 B
	 BIG

	BHM1D4FT4
	UNITED ENERGY DISTRIBUTION PTY LTD Prvt
	Hartford Life and Annuity Insurance Company
	PA2
	PA2BHM1D4FT4
	10,000,000
	

	10,000,000
	

	10,000,000
	

	9,693,200
	

	5.79
	

	 Corporates
	 Utilities
	 Baa2
	 BBB

	200474BF0
	COMM_15-LC19     B
	Hartford Life and Annuity Insurance Company
	PA2
	PA2200474BF0
	3,905,500
	

	3,905,500
	

	4,003,484
	

	3,972,573
	

	8.03
	

	 CMBS
	 CMBS
	 AA-
	 AA

	912828T59
	TREASURY NOTE (2OLD)
	Hartford Life and Annuity Insurance Company
	PA2
	PA2912828T59
	310,000
	

	310,000
	

	310,034
	

	306,682
	

	2.79
	

	 TSY
	 Govt
	 Govt
	 Govt

	74840LAA0
	QUICKEN LOANS INC 144A
	Hartford Life and Annuity Insurance Company
	PA2
	PA274840LAA0
	2,066,000
	

	2,066,000
	

	2,007,581
	

	2,009,185
	

	8.34
	

	 BIG Corporates
	 HY Financials
	 Ba2
	 BIG

	94989CAZ4
	WFCM_15-C26     AS
	Hartford Life and Annuity Insurance Company
	PA2
	PA294989CAZ4
	4,280,000
	

	4,280,000
	

	4,387,373
	

	4,324,542
	

	8.04
	

	 CMBS
	 CMBS
	 Aa1
	 AA

	BHM0LCEA1
	BASIN ELECTRIC POWER COOPERATIVE I Prvt
	Hartford Life and Annuity Insurance Company
	PA2
	PA2BHM0LCEA1
	17,000,000
	

	15,587,640
	

	15,587,640
	

	15,826,131
	

	8.48
	

	 Corporates
	 Utilities
	 A
	 A

	94989DBB4
	WFCM_15-C27      B
	Hartford Life and Annuity Insurance Company
	PA2
	PA294989DBB4
	4,516,470
	

	4,516,470
	

	4,645,877
	

	4,643,776
	

	8.21
	

	 CMBS
	 CMBS
	 A1
	 A

	718549AE8
	PHILLIPS 66 PARTNERS LP
	Hartford Life and Annuity Insurance Company
	PA2
	PA2718549AE8
	6,448,890
	

	6,448,890
	

	6,404,084
	

	6,192,785
	

	29.75
	

	 Corporates
	 Industrial
	 Baa3
	 BBB

	12665UAA2
	CVS PASSTHROUGH TRUST      144A
	Hartford Life and Annuity Insurance Company
	PA2
	PA212665UAA2
	6,420,000
	

	5,899,219
	

	5,899,219
	

	6,208,839
	

	10.92
	

	 Corporates
	 Industrial
	 Baa1
	 BBB

	12592XBF2
	COMM_15-CR22.     AM
	Hartford Life and Annuity Insurance Company
	PA2
	PA212592XBF2
	6,420,000
	

	6,420,000
	

	6,582,439
	

	6,453,750
	

	8.13
	

	 CMBS
	 CMBS
	 AAA
	 AAA

	30295MAS1
	FREMF_16-K723      B
	Hartford Life and Annuity Insurance Company
	PA2
	PA230295MAS1
	2,400,000
	

	2,400,000
	

	2,247,616
	

	2,212,584
	

	6.78
	

	 CMBS
	 CMBS
	 BBB
	 BBB

	913017BT5
	UNITED TECHNOLOGIES CORP
	Hartford Life and Annuity Insurance Company
	PA2
	PA2913017BT5
	16,050,000
	

	16,050,000
	

	18,407,371
	

	17,179,984
	

	25.42
	

	 Corporates
	 Industrial
	 A-
	 A

	81745DAE1
	SEMT_13-9       A1 144A
	Hartford Life and Annuity Insurance Company
	PA2
	PA281745DAE1
	3,650,000
	

	2,326,394
	

	2,261,916
	

	2,317,488
	

	7.97
	

	 MBS
	 CMO Non-Agency
	 AAA
	 AAA

	BHM0RMP52
	HTFD LIT IX WHL   PN Prvt
	Hartford Life and Annuity Insurance Company
	PA2
	PA2BHM0RMP52
	25,000,000
	

	24,294,351
	

	24,294,351
	

	24,078,959
	

	3.37
	

	 CML
	 CML
	 A1
	 A

	1248EPBM4
	CCO HOLDINGS LLC/CCO HOLDINGS CAPI 144A
	Hartford Life and Annuity Insurance Company
	PA2
	PA21248EPBM4
	4,781,000
	

	4,781,000
	

	4,811,732
	

	4,948,335
	

	7.13
	

	 BIG Corporates
	 HY Industrials
	 BB+
	 BIG

	50077LAM8
	KRAFT HEINZ FOODS CO
	Hartford Life and Annuity Insurance Company
	PA2
	PA250077LAM8
	9,704,900
	

	9,704,900
	

	9,778,547
	

	10,159,206
	

	28.04
	

	 Corporates
	 Industrial
	 BBB-
	 BBB

	12629NAH8
	COMM_15-DC1     AM
	Hartford Life and Annuity Insurance Company
	PA2
	PA212629NAH8
	6,955,000
	

	6,955,000
	

	7,130,411
	

	6,961,572
	

	8.03
	

	 CMBS
	 CMBS
	 AAA
	 AAA

	25470XAE5
	DISH DBS CORP
	Hartford Life and Annuity Insurance Company
	PA2
	PA225470XAE5
	4,456,000
	

	4,456,000
	

	4,655,854
	

	4,834,760
	

	4.42
	

	 BIG Corporates
	 HY Industrials
	 Ba3
	 BIG

	BHM0MEM25
	AQUARION WATER CO OF CONNECTICUT Prvt
	Hartford Life and Annuity Insurance Company
	PA2
	PA2BHM0MEM25
	19,000,000
	

	19,000,000
	

	19,000,000
	

	19,456,190
	

	15.63
	

	 Corporates
	 Utilities
	 A3
	 A

	564759QB7
	MANUFACTURERS & TRADERS TRUST CO
	Hartford Life and Annuity Insurance Company
	PA2
	PA2564759QB7
	8,500,000
	

	8,500,000
	

	8,500,000
	

	8,340,625
	

	4.92
	

	 Corporates
	 Financials
	 A-
	 A

	29273RAZ2
	ENERGY TRANSFER PARTNERS LP
	Hartford Life and Annuity Insurance Company
	PA2
	PA229273RAZ2
	2,675,000
	

	2,675,000
	

	2,715,370
	

	2,756,927
	

	26.25
	

	 Corporates
	 Industrial
	 BBB-
	 BBB

	
																			
	591894CB4
	METROPOLITAN EDISON COMPANY 144A
	Hartford Life and Annuity Insurance Company
	PA2
	PA2591894CB4
	2,078,475
	

	2,078,475
	

	2,141,033
	

	2,092,501
	

	8.29
	

	 Corporates
	 Utilities
	 BBB-
	 BBB

	BHM0LDWD3
	PATTERSON COS INC Prvt
	Hartford Life and Annuity Insurance Company
	PA2
	PA2BHM0LDWD3
	15,000,000
	

	15,000,000
	

	15,000,000
	

	15,172,200
	

	1.94
	

	 Corporates
	 Industrials
	 Baa1
	 BBB

	681919AZ9
	OMNICOM GROUP INC
	Hartford Life and Annuity Insurance Company
	PA2
	PA2681919AZ9
	1,808,300
	

	1,808,300
	

	1,831,155
	

	1,857,144
	

	5.34
	

	 Corporates
	 Industrials
	 Baa1
	 BBB

	89641UAC5
	TRINITY ACQUISITION PLC
	Hartford Life and Annuity Insurance Company
	PA2
	PA289641UAC5
	5,350,000
	

	5,350,000
	

	5,457,106
	

	5,415,559
	

	8.96
	

	 Corporates
	 Financials
	 BBB
	 BBB

	BHM03GBH0
	NJNGC FIRST MORTGAGE BONDS Prvt
	Hartford Life and Annuity Insurance Company
	PA2
	PA2BHM03GBH0
	10,000,000
	

	10,000,000
	

	10,529,454
	

	10,505,000
	

	1.38
	

	 Corporates
	 Utilities
	 A1
	 A

	BHM0M7933
	ENVESTRA LTD      Prvt
	Hartford Life and Annuity Insurance Company
	PA2
	PA2BHM0M7933
	11,000,000
	

	11,000,000
	

	11,000,000
	

	11,245,410
	

	10.53
	

	 Corporates
	 Utilities
	 Baa2
	 BBB

	BHM0L4WM3
	COMPASS GROUP PLC - SER I  Prvt
	Hartford Life and Annuity Insurance Company
	PA2
	PA2BHM0L4WM3
	10,000,000
	

	10,000,000
	

	10,000,000
	

	10,204,800
	

	1.75
	

	 Corporates
	 Industrials
	 A3
	 A

	BHM0MN8Z8
	HTFD GAEDEKE PO   PN Prvt
	Hartford Life and Annuity Insurance Company
	PA2
	PA2BHM0MN8Z8
	20,000,000
	

	19,945,287
	

	19,945,287
	

	20,023,111
	

	9.62
	

	 CML
	 CML
	 A2
	 A

	BHM0LDGK5
	CURTISS-WRIGHT CORPORATION Prvt
	Hartford Life and Annuity Insurance Company
	PA2
	PA2BHM0LDGK5
	5,000,000
	

	5,000,000
	

	5,057,138
	

	5,133,050
	

	4.92
	

	 Corporates
	 Industrials
	 Baa2
	 BBB

	32027NVV0
	FFML_05-FF9     A4
	Hartford Life and Annuity Insurance Company
	PA2
	PA232027NVV0
	3,500,000
	

	2,102,726
	

	1,968,619
	

	1,987,780
	

	2.86
	

	 ABS
	 Home Equity
	 B-
	 BIG

	12637UBA6
	CSAIL_16-C7     AS
	Hartford Life and Annuity Insurance Company
	PA2
	PA212637UBA6
	2,400,000
	

	2,400,000
	

	2,471,330
	

	2,405,803
	

	9.79
	

	 CMBS
	 CMBS
	 Aa3
	 AA

	55608XAB3
	MACQUARIE BANK LTD         144A
	Hartford Life and Annuity Insurance Company
	PA2
	PA255608XAB3
	1,712,000
	

	1,712,000
	

	1,708,019
	

	1,732,529
	

	8.44
	

	 Corporates
	 Financial
	 BBB-
	 BBB

	BHM15T4C7
	HTFD ENCLAVE AT   PN Prvt
	Hartford Life and Annuity Insurance Company
	PA2
	PA2BHM15T4C7
	30,000,000
	

	30,000,000
	

	30,000,000
	

	27,222,510
	

	18.14
	

	 CML
	 CML
	 A2
	 A

	14149YBD9
	CARDINAL HEALTH INC
	Hartford Life and Annuity Insurance Company
	PA2
	PA214149YBD9
	6,540,375
	

	6,540,375
	

	6,947,414
	

	6,901,253
	

	28.21
	

	 Corporates
	 Industrial
	 BBB+
	 BBB

	209111FK4
	CONSOLIDATED EDISON COMPANY OF NEW
	Hartford Life and Annuity Insurance Company
	PA2
	PA2209111FK4
	1,765,500
	

	1,765,500
	

	1,750,141
	

	1,763,074
	

	39.92
	

	 Corporates
	 Utilities
	 A-
	 A

	32008DAA4
	FIRST DATA CORPORATION     144A
	Hartford Life and Annuity Insurance Company
	PA2
	PA232008DAA4
	2,534,000
	

	2,534,000
	

	2,551,515
	

	2,547,481
	

	4.04
	

	 BIG Corporates
	 HY Industrials
	 BB
	 BIG

	80282KAE6
	SANTANDER HOLDINGS USA INC
	Hartford Life and Annuity Insurance Company
	PA2
	PA280282KAE6
	1,899,250
	

	1,899,250
	

	1,898,581
	

	1,887,372
	

	8.55
	

	 Corporates
	 Financials
	 Baa3
	 BBB

	46625YJM6
	JPMCC_05-CB11      C
	Hartford Life and Annuity Insurance Company
	PA2
	PA246625YJM6
	5,354,815
	

	5,354,815
	

	5,328,255
	

	5,527,219
	

	0.99
	

	 CMBS
	 CMBS
	 AA
	 AA

	882484AA6
	TEXAS HEALTH RESOURCES
	Hartford Life and Annuity Insurance Company
	PA2
	PA2882484AA6
	6,946,975
	

	6,946,975
	

	6,946,975
	

	6,945,565
	

	37.88
	

	 Corporates
	 Tax Muni
	 Aa2
	 AA

	12626PAJ2
	CRH AMERICA INC.
	Hartford Life and Annuity Insurance Company
	PA2
	PA212626PAJ2
	5,000,000
	

	5,000,000
	

	5,185,427
	

	5,469,325
	

	1.54
	

	 Corporates
	 Industrials
	 BBB
	 BBB

	BHM0L66Z8
	HTFD GRI-REGENC   PN Prvt
	Hartford Life and Annuity Insurance Company
	PA2
	PA2BHM0L66Z8
	31,500,000
	

	29,568,381
	

	29,568,381
	

	30,053,838
	

	5.03
	

	 CML
	 CML
	 A1
	 A

	BHM04KJQ2
	MDU RESOURCES GROUP INC SNR NOTE Prvt
	Hartford Life and Annuity Insurance Company
	PA2
	PA2BHM04KJQ2
	5,000,000
	

	5,000,000
	

	5,301,788
	

	5,323,800
	

	1.71
	

	 Corporates
	 Utilities
	 A3
	 A

	BHM0L6753
	HTFD GRI-REGENC   PN Prvt
	Hartford Life and Annuity Insurance Company
	PA2
	PA2BHM0L6753
	22,500,000
	

	21,120,272
	

	21,120,272
	

	21,680,353
	

	5.03
	

	 CML
	 CML
	 A1
	 A

	BHM04XRH5
	FOOTBALL TRUST IV Prvt
	Hartford Life and Annuity Insurance Company
	PA2
	PA2BHM04XRH5
	5,000,000
	

	5,000,000
	

	5,340,415
	

	5,368,700
	

	1.88
	

	 Corporates
	 Industrials
	 A
	 A

	BHM0KTWD9
	HTFD AQUATERA A   PN Prvt
	Hartford Life and Annuity Insurance Company
	PA2
	PA2BHM0KTWD9
	36,000,000
	

	34,672,137
	

	34,672,137
	

	35,784,451
	

	6.28
	

	 CML
	 CML
	 A1
	 A

	66989HAK4
	NOVARTIS CAPITAL CORP
	Hartford Life and Annuity Insurance Company
	PA2
	PA266989HAK4
	3,282,225
	

	3,282,225
	

	3,585,317
	

	3,312,376
	

	28.39
	

	 Corporates
	 Industrial
	 AA-
	 AA

	212015AH4
	CONTINENTAL RESOURCES INC
	Hartford Life and Annuity Insurance Company
	PA2
	PA2212015AH4
	5,397,000
	

	5,397,000
	

	5,192,647
	

	5,447,678
	

	3.21
	

	 BIG Corporates
	 HY Industrials
	 Ba3
	 BIG

	BHM0JB0A1
	HTFD AMB INDUST   PN Prvt
	Hartford Life and Annuity Insurance Company
	PA2
	PA2BHM0JB0A1
	10,000,000
	

	9,523,426
	

	9,523,426
	

	9,834,533
	

	3.92
	

	 CML
	 CML
	 Aa3
	 AA

	96950FAN4
	WILLIAMS PARTNERS LP
	Hartford Life and Annuity Insurance Company
	PA2
	PA296950FAN4
	5,671,000
	

	5,671,000
	

	5,373,929
	

	5,495,999
	

	27.18
	

	 Corporates
	 Industrial
	 BBB-
	 BBB

	61763MAF7
	MSBAM_14-C16    A5
	Hartford Life and Annuity Insurance Company
	PA2
	PA261763MAF7
	3,100,000
	

	3,100,000
	

	3,171,787
	

	3,262,338
	

	7.27
	

	 CMBS
	 CMBS
	 Aaa
	 AAA

	36253GAK8
	GSMS_14-GC24     B
	Hartford Life and Annuity Insurance Company
	PA2
	PA236253GAK8
	4,012,500
	

	4,012,500
	

	4,110,094
	

	4,218,682
	

	7.69
	

	 CMBS
	 CMBS
	 Aa3
	 AA

	125581GQ5
	CIT GROUP INC
	Hartford Life and Annuity Insurance Company
	PA2
	PA2125581GQ5
	2,669,000
	

	2,669,000
	

	2,693,475
	

	2,782,433
	

	5.63
	

	 BIG Corporates
	 HY Financials
	 BB+
	 BIG

	06053FAA7
	BANK OF AMERICA CORP
	Hartford Life and Annuity Insurance Company
	PA2
	PA206053FAA7
	2,940,000
	

	2,940,000
	

	2,938,331
	

	3,071,124
	

	6.57
	

	 Corporates
	 Financials
	 BBB+
	 BBB

	BHM0JEJL1
	HTFD REGENCY PO   PN Prvt
	Hartford Life and Annuity Insurance Company
	PA2
	PA2BHM0JEJL1
	8,800,000
	

	8,131,983
	

	8,131,983
	

	8,455,862
	

	4.13
	

	 CML
	 CML
	 A1
	 A

	
																			
	BHM0JAX25
	VECTOR LTD        Prvt
	Hartford Life and Annuity Insurance Company
	PA2
	PA2BHM0JAX25
	10,000,000
	

	10,000,000
	

	10,000,000
	

	10,239,000
	

	5.97
	

	 Corporates
	 Utilities
	 BBB
	 BBB

	21684AAA4
	RABOBANK NEDERLAND
	Hartford Life and Annuity Insurance Company
	PA2
	PA221684AAA4
	3,900,000
	

	3,900,000
	

	4,035,578
	

	4,103,151
	

	6.92
	

	 Corporates
	 Financials
	 A3
	 A

	BHM0J85Z8
	STERICYCLE INC.   Prvt
	Hartford Life and Annuity Insurance Company
	PA2
	PA2BHM0J85Z8
	15,000,000
	

	15,000,000
	

	15,000,000
	

	15,974,700
	

	3.79
	

	 Corporates
	 Industrial
	 A3
	 A

	29364WAS7
	ENTERGY GULF STATES LOUISIANA LLC
	Hartford Life and Annuity Insurance Company
	PA2
	PA229364WAS7
	3,117,000
	

	3,117,000
	

	3,110,126
	

	3,266,806
	

	6.42
	

	 Corporates
	 Utilities
	 A2
	 A

	BHM0JEJN7
	HTFD REGENCY PO   PN Prvt
	Hartford Life and Annuity Insurance Company
	PA2
	PA2BHM0JEJN7
	32,401,000
	

	29,941,407
	

	29,941,407
	

	31,192,398
	

	4.13
	

	 CML
	 CML
	 Aa3
	 AA

	42824CAY5
	HEWLETT PACKARD ENTERPRISE CO
	Hartford Life and Annuity Insurance Company
	PA2
	PA242824CAY5
	9,630,000
	

	9,630,000
	

	9,415,106
	

	9,643,838
	

	28.29
	

	 Corporates
	 Industrial
	 BBB
	 BBB

	BHM0LDGM1
	GREEN MOUNTAIN POWER CORPORATION Prvt
	Hartford Life and Annuity Insurance Company
	PA2
	PA2BHM0LDGM1
	3,400,000
	

	3,400,000
	

	3,400,000
	

	3,515,328
	

	24.88
	

	 Corporates
	 Utilities
	 A
	 A

	291011AY0
	EMERSON ELECTRIC CO
	Hartford Life and Annuity Insurance Company
	PA2
	PA2291011AY0
	7,500,000
	

	7,500,000
	

	7,491,092
	

	8,091,270
	

	2.79
	

	 Corporates
	 Industrials
	 A2
	 A

	913017BR9
	UNITED TECHNOLOGIES CORP
	Hartford Life and Annuity Insurance Company
	PA2
	PA2913017BR9
	5,000,000
	

	5,000,000
	

	4,990,629
	

	5,395,915
	

	3.29
	

	 Corporates
	 Industrials
	 A-
	 A

	64072TAC9
	CSC HOLDINGS LLC  144A
	Hartford Life and Annuity Insurance Company
	PA2
	PA264072TAC9
	4,662,000
	

	4,662,000
	

	4,905,682
	

	5,093,235
	

	3.79
	

	 BIG Corporates
	 HY Industrials
	 BB-
	 BIG

	853496AB3
	STANDARD INDUSTRIES INC    144A
	Hartford Life and Annuity Insurance Company
	PA2
	PA2853496AB3
	2,419,000
	

	2,419,000
	

	2,449,270
	

	2,503,907
	

	6.13
	

	 BIG Corporates
	 HY Industrials
	 Ba2
	 BIG

	87264AAL9
	T-MOBILE USA INC
	Hartford Life and Annuity Insurance Company
	PA2
	PA287264AAL9
	7,598,000
	

	7,598,000
	

	7,825,411
	

	8,053,880
	

	1.25
	

	 BIG Corporates
	 HY Industrials
	 Ba3
	 BIG

	BHM0JEHH2
	HTFD REGENCY PO   PN Prvt
	Hartford Life and Annuity Insurance Company
	PA2
	PA2BHM0JEHH2
	9,000,000
	

	8,322,273
	

	8,322,273
	

	8,724,180
	

	5.89
	

	 CML
	 CML
	 A1
	 A

	482480AE0
	KLA-TENCOR CORPORATION
	Hartford Life and Annuity Insurance Company
	PA2
	PA2482480AE0
	7,700,275
	

	7,700,275
	

	7,897,946
	

	8,151,604
	

	7.59
	

	 Corporates
	 Industrials
	 Baa2
	 BBB

	13645RAP9
	CANADIAN PACIFIC RAILWAY CO
	Hartford Life and Annuity Insurance Company
	PA2
	PA213645RAP9
	5,000,000
	

	5,000,000
	

	4,948,530
	

	5,371,760
	

	5.04
	

	 Corporates
	 Industrials
	 Baa1
	 BBB

	98417EAR1
	GLENCORE FINANCE CANADA LTD 144A
	Hartford Life and Annuity Insurance Company
	PA2
	PA298417EAR1
	11,283,150
	

	11,283,150
	

	10,986,015
	

	10,841,302
	

	25.82
	

	 Corporates
	 Industrial
	 Baa3
	 BBB

	375558BD4
	GILEAD SCIENCES INC
	Hartford Life and Annuity Insurance Company
	PA2
	PA2375558BD4
	5,483,750
	

	5,483,750
	

	5,791,826
	

	5,673,877
	

	28.67
	

	 Corporates
	 Industrial
	 A3
	 A

	55336VAJ9
	MPLX LP
	Hartford Life and Annuity Insurance Company
	PA2
	PA255336VAJ9
	2,153,375
	

	2,153,375
	

	2,199,786
	

	2,213,986
	

	8.17
	

	 Corporates
	 Industrial
	 BBB-
	 BBB

	BHM03HEU6
	HTFD BOSTON HAR   PN Prvt
	Hartford Life and Annuity Insurance Company
	PA2
	PA2BHM03HEU6
	10,000,000
	

	10,000,000
	

	10,000,000
	

	9,986,822
	

	1.34
	

	 CML
	 CML
	 A2
	 A

	BHM0H7EB5
	TRANSWESTERN PIPELINE CO SENIOR Prvt
	Hartford Life and Annuity Insurance Company
	PA2
	PA2BHM0H7EB5
	7,500,000
	

	7,500,000
	

	7,500,000
	

	8,049,600
	

	3.94
	

	 Corporates
	 Industrials
	 Baa3
	 BBB

	130911XH8
	CALIFORNIA STWIDE TXBL PENS AMBAC
	Hartford Life and Annuity Insurance Company
	PA2
	PA2130911XH8
	16,050,000
	

	16,050,000
	

	16,050,000
	

	16,784,288
	

	4.09
	

	 Corporates
	 Tax Muni
	 Baa1
	 BBB

	29364WAM0
	ENTERGY LOUISIANA LLC
	Hartford Life and Annuity Insurance Company
	PA2
	PA229364WAM0
	3,000,000
	

	3,000,000
	

	2,997,911
	

	3,180,462
	

	8.79
	

	 Corporates
	 Utilities
	 A2
	 A

	035242AN6
	ANHEUSER-BUSCH INBEV FINANCE INC
	Hartford Life and Annuity Insurance Company
	PA2
	PA2035242AN6
	8,675,560
	

	8,675,560
	

	8,655,459
	

	9,377,153
	

	28.59
	

	 Corporates
	 Industrial
	 A3
	 A

	29444UAP1
	EQUINIX INC
	Hartford Life and Annuity Insurance Company
	PA2
	PA229444UAP1
	2,190,000
	

	2,190,000
	

	2,276,407
	

	2,288,550
	

	6.00
	

	 BIG Corporates
	 HY Industrials
	 BB
	 BIG

	BHM0HX7K6
	PNG COMPANIES LLC Prvt
	Hartford Life and Annuity Insurance Company
	PA2
	PA2BHM0HX7K6
	4,000,000
	

	4,000,000
	

	4,228,199
	

	4,326,840
	

	3.16
	

	 Corporates
	 Utilities
	 BBB-
	 BBB

	63938CAD0
	NAVIENT CORP
	Hartford Life and Annuity Insurance Company
	PA2
	PA263938CAD0
	2,455,000
	

	2,455,000
	

	2,481,751
	

	2,596,163
	

	4.57
	

	 BIG Corporates
	 HY Financials
	 BB-
	 BIG

	81727TAA6
	SENSATA TECHNOLOGIES UK FINANCING 144A
	Hartford Life and Annuity Insurance Company
	PA2
	PA281727TAA6
	1,879,000
	

	1,879,000
	

	1,920,406
	

	1,963,555
	

	4.13
	

	 BIG Corporates
	 HY Industrials
	 Ba3
	 BIG

	92826CAF9
	VISA INC
	Hartford Life and Annuity Insurance Company
	PA2
	PA292826CAF9
	3,697,920
	

	3,697,920
	

	3,691,853
	

	3,903,206
	

	28.46
	

	 Corporates
	 Industrial
	 A1
	 A

	190760HT8
	COBB-MARIETTA GA COLISEUM & EX
	Hartford Life and Annuity Insurance Company
	PA2
	PA2190760HT8
	13,019,225
	

	13,019,225
	

	13,019,225
	

	13,392,096
	

	9.00
	

	 Corporates
	 Tax Muni
	 AAA
	 AAA

	344868AA2
	FOOTBALL TRUST V  144A
	Hartford Life and Annuity Insurance Company
	PA2
	PA2344868AA2
	4,000,000
	

	4,000,000
	

	4,000,000
	

	4,251,684
	

	3.78
	

	 Corporates
	 Industrials
	 A
	 A

	BHM127TJ6
	495 & 499 BROAD   PN Prvt
	Hartford Life and Annuity Insurance Company
	PA2
	PA2BHM127TJ6
	40,000,000
	

	40,000,000
	

	40,000,000
	

	40,266,604
	

	16.00
	

	 CML
	 CML
	 A2
	 A

	496902AN7
	KINROSS GOLD CORP
	Hartford Life and Annuity Insurance Company
	PA2
	PA2496902AN7
	2,526,000
	

	2,526,000
	

	2,572,093
	

	2,557,575
	

	6.96
	

	 BIG Corporates
	 HY Industrials
	 BB+
	 BIG

	4520015Y2
	ILLINOIOS ED FACS AUTH REVS
	Hartford Life and Annuity Insurance Company
	PA2
	PA24520015Y2
	13,118,200
	

	13,118,200
	

	13,095,387
	

	13,929,167
	

	3.54
	

	 Corporates
	 Tax Muni
	 A2
	 A

	BHM014GK7
	DODGER TICKETS LLC SER A SR SEC Prvt
	Hartford Life and Annuity Insurance Company
	PA2
	PA2BHM014GK7
	20,000,000
	

	15,305,416
	

	15,305,416
	

	16,478,576
	

	7.64
	

	 Corporates
	 Industrial
	 BBB
	 BBB

	
																			
	521865AX3
	LEAR CORP
	Hartford Life and Annuity Insurance Company
	PA2
	PA2521865AX3
	2,616,685
	

	2,616,685
	

	2,686,190
	

	2,750,790
	

	3.04
	

	 Corporates
	 Industrials
	 Baa3
	 BBB

	BHM0W7049
	PORTLAND GENERAL ELECTRIC COMP Prvt
	Hartford Life and Annuity Insurance Company
	PA2
	PA2BHM0W7049
	11,000,000
	

	11,000,000
	

	11,000,000
	

	11,633,160
	

	25.88
	

	 Corporates
	 Utilities
	 A-
	 A

	55616XAB3
	MACYS RETAIL HOLDINGS INC
	Hartford Life and Annuity Insurance Company
	PA2
	PA255616XAB3
	5,000,000
	

	5,000,000
	

	5,149,310
	

	5,585,295
	

	10.54
	

	 Corporates
	 Industrials
	 BBB
	 BBB

	278058AK8
	EATON CORP
	Hartford Life and Annuity Insurance Company
	PA2
	PA2278058AK8
	7,690,625
	

	7,690,625
	

	8,051,165
	

	8,743,810
	

	2.46
	

	 Corporates
	 Industrial
	 BBB+
	 BBB

	BHM017MA5
	DETROIT EDISON COMPANY (THE)  SR Prvt
	Hartford Life and Annuity Insurance Company
	PA2
	PA2BHM017MA5
	14,000,000
	

	14,000,000
	

	14,000,000
	

	15,366,820
	

	6.75
	

	 Corporates
	 Utilities
	 A2
	 A

	BHM01J674
	WELLS FARGO-WACHOVIA BANK  Prvt
	Hartford Life and Annuity Insurance Company
	PA2
	PA2BHM01J674
	8,985,763
	

	5,604,123
	

	5,604,123
	

	6,147,050
	

	4.02
	

	 Corporates
	 Financial
	 A2
	 A

	736688FN7
	PORTLAND ORE CMNTY COLLEGE
	Hartford Life and Annuity Insurance Company
	PA2
	PA2736688FN7
	5,350,000
	

	5,350,000
	

	5,350,000
	

	5,852,258
	

	6.74
	

	 Corporates
	 Tax Muni
	 Aa2
	 AA

	785592AD8
	SABINE PASS LIQUEFACTION LLC
	Hartford Life and Annuity Insurance Company
	PA2
	PA2785592AD8
	5,346,000
	

	5,346,000
	

	5,454,512
	

	5,680,125
	

	6.04
	

	 BIG Corporates
	 HY Industrials
	 Ba1
	 BIG

	68275CAC2
	FB_05-1         A3 144A
	Hartford Life and Annuity Insurance Company
	PA2
	PA268275CAC2
	5,350,000
	

	5,350,000
	

	5,378,890
	

	6,025,876
	

	8.17
	

	 CMBS
	 CMBS
	 AAA
	 AAA

	347382AA1
	FORT GORDON GA MILITARY HSG 144A
	Hartford Life and Annuity Insurance Company
	PA2
	PA2347382AA1
	6,369,175
	

	6,369,175
	

	6,796,856
	

	6,950,107
	

	26.64
	

	 Corporates
	 Tax Muni
	 Baa2
	 BBB

	BHM03CN52
	ALLETE INC        Prvt
	Hartford Life and Annuity Insurance Company
	PA2
	PA2BHM03CN52
	10,000,000
	

	10,000,000
	

	10,000,000
	

	11,376,000
	

	6.34
	

	 Corporates
	 Utilities
	 A1
	 A

	BHM01JC69
	UBS 733 THIRD A   PN Prvt
	Hartford Life and Annuity Insurance Company
	PA2
	PA2BHM01JC69
	29,981,009
	

	26,079,414
	

	26,401,588
	

	28,863,808
	

	8.16
	

	 CML
	 CML
	 Aa3
	 AA

	BHM01NWT8
	UBS 605 3RD AVE   PN Prvt
	Hartford Life and Annuity Insurance Company
	PA2
	PA2BHM01NWT8
	30,000,000
	

	27,452,955
	

	26,828,233
	

	30,661,780
	

	8.16
	

	 CML
	 CML
	 A1
	 A

	752123JH3
	RANCHO CUCAMONGA  REDEV TAX ALLOC
	Hartford Life and Annuity Insurance Company
	PA2
	PA2752123JH3
	15,054,900
	

	15,054,900
	

	15,054,900
	

	16,978,163
	

	9.53
	

	 Corporates
	 Tax Muni
	 A3
	 A

	682439AC8
	AACMT_05-C6A    A2 144A
	Hartford Life and Annuity Insurance Company
	PA2
	PA2682439AC8
	13,375,000
	

	13,375,000
	

	13,406,245
	

	15,474,287
	

	9.54
	

	 CMBS
	 CMBS
	 AAA
	 AAA

	718846AM0
	PHOENIX AZ CIVIC IMP RENT CAR FGIC
	Hartford Life and Annuity Insurance Company
	PA2
	PA2718846AM0
	22,673,300
	

	22,673,300
	

	22,673,300
	

	25,075,763
	

	5.62
	

	 Corporates
	 Tax Muni
	 A3
	 A

	67704LAA9
	OGLETHORPE PWR CORP GA 1ST MTG 144A
	Hartford Life and Annuity Insurance Company
	PA2
	PA267704LAA9
	16,050,000
	

	16,050,000
	

	16,050,000
	

	16,688,951
	

	16.00
	

	 Corporates
	 Tax Muni
	 A
	 A

	134011AJ4
	CAMP PENDLETON/QUANTICO    144A
	Hartford Life and Annuity Insurance Company
	PA2
	PA2134011AJ4
	15,349,150
	

	15,349,150
	

	15,349,150
	

	16,360,812
	

	22.01
	

	 Corporates
	 Tax Muni
	 AA
	 AA

	10075EAT5
	BOSTON GAS CO INC MTN
	Hartford Life and Annuity Insurance Company
	PA2
	PA210075EAT5
	5,350,000
	

	5,350,000
	

	5,338,076
	

	6,181,925
	

	8.75
	

	 Corporates
	 Utilities
	 A3
	 A

	949746RF0
	WELLS FARGO & COMPANY
	Hartford Life and Annuity Insurance Company
	PA2
	PA2949746RF0
	18,501,370
	

	18,501,370
	

	16,453,481
	

	20,962,811
	

	27.04
	

	 Corporates
	 Financial
	 A-
	 A

	BHM02H3Y1
	NEW CARDINALS STADIUM LLC  Prvt
	Hartford Life and Annuity Insurance Company
	PA2
	PA2BHM02H3Y1
	18,000,000
	

	14,296,961
	

	14,296,961
	

	16,516,278
	

	9.26
	

	 Corporates
	 Industrial
	 BBB
	 BBB

	686053CP2
	OREGON SCH BRDS ASSN
	Hartford Life and Annuity Insurance Company
	PA2
	PA2686053CP2
	16,050,000
	

	16,050,000
	

	16,050,000
	

	18,177,267
	

	7.50
	

	 Corporates
	 Tax Muni
	 AA-
	 AA

	45200FCE7
	ILLINOIS FIN AUTH-THEORY & COMPUTI
	Hartford Life and Annuity Insurance Company
	PA2
	PA245200FCE7
	12,305,000
	

	12,305,000
	

	12,305,000
	

	14,138,814
	

	10.62
	

	 Corporates
	 Tax Muni
	 A3
	 A

	686053DR7
	OREGON SCH BOARD TAXABLE 04 FSA
	Hartford Life and Annuity Insurance Company
	PA2
	PA2686053DR7
	10,700,000
	

	10,700,000
	

	10,700,000
	

	12,232,561
	

	9.01
	

	 Corporates
	 Tax Muni
	 Aa2
	 AA

	24668PAE7
	KONINKLIJKE AHOLD DELHAIZE NV
	Hartford Life and Annuity Insurance Company
	PA2
	PA224668PAE7
	14,595,335
	

	14,595,335
	

	14,579,522
	

	16,172,989
	

	23.75
	

	 Corporates
	 Industrial
	 Baa2
	 BBB

	126408GU1
	CSX CORP
	Hartford Life and Annuity Insurance Company
	PA2
	PA2126408GU1
	15,407,465
	

	15,407,465
	

	15,166,225
	

	17,686,984
	

	23.88
	

	 Corporates
	 Industrial
	 Baa1
	 BBB

	04351LAA8
	ASCENSION HEALTH
	Hartford Life and Annuity Insurance Company
	PA2
	PA204351LAA8
	3,000,000
	

	3,000,000
	

	3,000,000
	

	3,271,038
	

	34.73
	

	 Corporates
	 Taxable Muni
	 AA+
	 AA

	694308GK7
	PACIFIC GAS & ELECTRIC CO
	Hartford Life and Annuity Insurance Company
	PA2
	PA2694308GK7
	12,318,375
	

	12,318,375
	

	12,189,203
	

	14,544,847
	

	20.17
	

	 Corporates
	 Utilities
	 A3
	 A

	594918AX2
	MICROSOFT CORPORATION
	Hartford Life and Annuity Insurance Company
	PA2
	PA2594918AX2
	10,700,000
	

	10,700,000
	

	10,720,207
	

	11,876,936
	

	26.96
	

	 Corporates
	 Industrial
	 Aaa
	 AAA

	15135UAF6
	CENOVUS ENERGY INC
	Hartford Life and Annuity Insurance Company
	PA2
	PA215135UAF6
	15,000,000
	

	15,000,000
	

	16,731,961
	

	16,724,550
	

	22.88
	

	 BIG Corporates
	 HY Industrial
	 Ba2
	 BIG

	694308GJ0
	PACIFIC GAS & ELECTRIC CO
	Hartford Life and Annuity Insurance Company
	PA2
	PA2694308GJ0
	13,910,000
	

	13,910,000
	

	13,826,663
	

	16,969,797
	

	20.17
	

	 Corporates
	 Utilities
	 A3
	 A

	69351UAN3
	PPL ELECTRIC UTILITIES CORPORATION
	Hartford Life and Annuity Insurance Company
	PA2
	PA269351UAN3
	3,000,000
	

	3,000,000
	

	3,050,437
	

	3,474,918
	

	24.04
	

	 Corporates
	 Utilities
	 A
	 A

	136055AA8
	CANADIAN IMPERIAL BANK OF COMMERCE 144A
	Hartford Life and Annuity Insurance Company
	PA2
	PA2136055AA8
	12,109,725
	

	9,271,499
	

	9,360,720
	

	10,894,419
	

	7.63
	

	 Corporates
	 Financial
	 A+
	 A

	586054AA6
	MEMORIAL SLOAN-KETTERING CANCER CT
	Hartford Life and Annuity Insurance Company
	PA2
	PA2586054AA6
	9,726,835
	

	9,726,835
	

	9,905,730
	

	10,927,088
	

	25.50
	

	 Corporates
	 Industrial
	 AA-
	 AA

	
																			
	21684AAB2
	RABOBANK NEDERLAND
	Hartford Life and Annuity Insurance Company
	PA2
	PA221684AAB2
	11,457,025
	

	11,457,025
	

	11,462,694
	

	13,276,893
	

	26.92
	

	 Corporates
	 Financial
	 A3
	 A

	68389XAM7
	ORACLE CORPORATION
	Hartford Life and Annuity Insurance Company
	PA2
	PA268389XAM7
	13,963,500
	

	13,963,500
	

	14,591,628
	

	16,227,137
	

	23.54
	

	 Corporates
	 Industrial
	 A+
	 A

	49337WAJ9
	KEYSPAN CORP
	Hartford Life and Annuity Insurance Company
	PA2
	PA249337WAJ9
	13,321,500
	

	13,321,500
	

	13,321,500
	

	15,101,026
	

	18.25
	

	 Corporates
	 Utilities
	 BBB+
	 BBB

	976657AG1
	WISCONSIN ENERGY CORP
	Hartford Life and Annuity Insurance Company
	PA2
	PA2976657AG1
	11,173,475
	

	11,173,475
	

	11,977,149
	

	13,324,246
	

	16.25
	

	 Corporates
	 Utilities
	 BBB+
	 BBB

	BHM0213U4
	NORTHERN ILLINOIS GAS CO   Prvt
	Hartford Life and Annuity Insurance Company
	PA2
	PA2BHM0213U4
	15,000,000
	

	15,000,000
	

	15,000,000
	

	17,964,731
	

	19.96
	

	 Corporates
	 Utilities
	 AA-
	 AA

	724060AA6
	PIPELINE FUNDING COMPANY LLC 144A
	Hartford Life and Annuity Insurance Company
	PA2
	PA2724060AA6
	2,675,000
	

	2,621,768
	

	3,101,067
	

	3,038,823
	

	11.05
	

	 Corporates
	 Industrial
	 BBB-
	 BBB

	001192AH6
	AGL CAPITAL CORPORATION
	Hartford Life and Annuity Insurance Company
	PA2
	PA2001192AH6
	3,370,000
	

	3,370,000
	

	3,364,850
	

	3,925,420
	

	23.71
	

	 Corporates
	 Utilities
	 BBB+
	 BBB

	594918AD6
	MICROSOFT CORPORATION
	Hartford Life and Annuity Insurance Company
	PA2
	PA2594918AD6
	13,910,000
	

	13,910,000
	

	13,885,366
	

	16,309,044
	

	22.42
	

	 Corporates
	 Industrial
	 Aaa
	 AAA

	097023AD7
	BOEING COMPANY
	Hartford Life and Annuity Insurance Company
	PA2
	PA2097023AD7
	5,350,000
	

	5,350,000
	

	5,631,121
	

	6,765,589
	

	4.63
	

	 Corporates
	 Industrial
	 A
	 A

	626207YS7
	GEORGIA MUN ELEC AUTH
	Hartford Life and Annuity Insurance Company
	PA2
	PA2626207YS7
	6,126,820
	

	6,126,820
	

	7,121,672
	

	6,964,111
	

	27.42
	

	 Corporates
	 Tax Muni
	 A-
	 A

	143658AH5
	CARNIVAL CORPORATION
	Hartford Life and Annuity Insurance Company
	PA2
	PA2143658AH5
	4,428,730
	

	4,428,730
	

	4,886,365
	

	5,192,881
	

	11.04
	

	 Corporates
	 Industrial
	 A-
	 A

	842400FF5
	SOUTHERN CALIFORNIA EDISON
	Hartford Life and Annuity Insurance Company
	PA2
	PA2842400FF5
	16,050,000
	

	16,050,000
	

	15,977,895
	

	19,177,760
	

	20.04
	

	 Corporates
	 Utilities
	 A+
	 A

	914440LJ9
	UNIVERSITY MASS BLDG AUTH PROJ REV
	Hartford Life and Annuity Insurance Company
	PA2
	PA2914440LJ9
	4,000,000
	

	4,000,000
	

	3,829,582
	

	4,768,240
	

	19.61
	

	 Corporates
	 Taxable Muni
	 Aa2
	 AA

	540424AP3
	LOEWS CORPORATION
	Hartford Life and Annuity Insurance Company
	PA2
	PA2540424AP3
	5,000,000
	

	5,000,000
	

	4,893,267
	

	5,944,725
	

	18.09
	

	 Corporates
	 Financials
	 A
	 A

	199575AV3
	COLUMBUS SOUTHERN POWER CO
	Hartford Life and Annuity Insurance Company
	PA2
	PA2199575AV3
	16,737,475
	

	16,737,475
	

	16,488,732
	

	19,401,679
	

	18.75
	

	 Corporates
	 Utilities
	 BBB+
	 BBB

	048677AG3
	ATLANTIC MARINE CORPS COMMUNITIES 144A
	Hartford Life and Annuity Insurance Company
	PA2
	PA2048677AG3
	3,745,000
	

	3,666,326
	

	4,061,850
	

	4,282,196
	

	34.92
	

	 Corporates
	 Tax Muni
	 A1
	 A

	594918AM6
	MICROSOFT CORPORATION
	Hartford Life and Annuity Insurance Company
	PA2
	PA2594918AM6
	5,000,000
	

	5,000,000
	

	4,961,685
	

	5,945,010
	

	24.11
	

	 Corporates
	 Industrials
	 Aaa
	 AAA

	771367BX6
	ROCHESTER GAS & ELECTRIC
	Hartford Life and Annuity Insurance Company
	PA2
	PA2771367BX6
	2,600,000
	

	2,600,000
	

	2,962,960
	

	2,991,100
	

	16.67
	

	 Corporates
	 Utilities
	 A
	 A

	592112DR4
	METROPOLITAN GOVT NASHVILLE & DAVI
	Hartford Life and Annuity Insurance Company
	PA2
	PA2592112DR4
	4,280,000
	

	4,280,000
	

	4,280,000
	

	5,026,603
	

	13.93
	

	 Corporates
	 Tax Muni
	 Aa2
	 AA

	136385AL5
	CANADIAN NATURAL RESOURCES LIMITED
	Hartford Life and Annuity Insurance Company
	PA2
	PA2136385AL5
	7,757,500
	

	7,757,500
	

	7,730,129
	

	8,825,428
	

	21.21
	

	 Corporates
	 Industrial
	 Baa3
	 BBB

	71644EAF9
	PETRO-CANADA
	Hartford Life and Annuity Insurance Company
	PA2
	PA271644EAF9
	15,116,425
	

	15,116,425
	

	15,257,766
	

	18,444,125
	

	11.88
	

	 Corporates
	 Industrial
	 Baa1
	 BBB

	BHM042GE2
	CONSOLIDATED EDISON INC    Prvt
	Hartford Life and Annuity Insurance Company
	PA2
	PA2BHM042GE2
	15,000,000
	

	13,459,730
	

	13,459,730
	

	17,000,178
	

	5.39
	

	 Corporates
	 Utilities
	 A2
	 A

	61980AAD5
	MOTIVA ENTERPRISES LLC     144A
	Hartford Life and Annuity Insurance Company
	PA2
	PA261980AAD5
	15,263,975
	

	15,263,975
	

	17,416,278
	

	18,453,169
	

	23.04
	

	 Corporates
	 Industrials
	 BBB+
	 BBB

	56585AAF9
	MARATHON PETROLEUM CORP
	Hartford Life and Annuity Insurance Company
	PA2
	PA256585AAF9
	18,743,725
	

	18,743,725
	

	18,598,269
	

	20,048,195
	

	24.17
	

	 Corporates
	 Industrial
	 BBB
	 BBB

	91324PAR3
	UNITEDHEALTH GROUP INC
	Hartford Life and Annuity Insurance Company
	PA2
	PA291324PAR3
	10,700,000
	

	10,700,000
	

	9,991,220
	

	13,020,723
	

	19.21
	

	 Corporates
	 Financial
	 A-
	 A

	913017AT6
	UNITED TECHNOLOGIES CORP
	Hartford Life and Annuity Insurance Company
	PA2
	PA2913017AT6
	2,675,000
	

	2,675,000
	

	3,621,469
	

	3,482,574
	

	11.59
	

	 Corporates
	 Industrial
	 A-
	 A

	4042Q1AA5
	HSBC BANK USA
	Hartford Life and Annuity Insurance Company
	PA2
	PA24042Q1AA5
	21,400,000
	

	21,400,000
	

	21,310,938
	

	24,914,543
	

	17.84
	

	 Corporates
	 Financial
	 A1
	 A

	459200GS4
	INTERNATIONAL BUSINESS MACHINES CO
	Hartford Life and Annuity Insurance Company
	PA2
	PA2459200GS4
	11,826,175
	

	11,826,175
	

	9,756,473
	

	14,416,048
	

	22.92
	

	 Corporates
	 Industrial
	 Aa3
	 AA

	36186CBY8
	ALLY FINANCIAL INC
	Hartford Life and Annuity Insurance Company
	PA2
	PA236186CBY8
	3,994,000
	

	3,994,000
	

	4,752,890
	

	4,632,720
	

	14.84
	

	 BIG Corporates
	 HY Financials
	 BB+
	 BIG

	26882PAR3
	ERAC USA FINANCE CO        144A
	Hartford Life and Annuity Insurance Company
	PA2
	PA226882PAR3
	8,025,000
	

	8,025,000
	

	7,778,429
	

	9,732,455
	

	17.42
	

	 Corporates
	 Industrial
	 Baa1
	 BBB

	745332CD6
	PUGET SOUND ENERGY INC
	Hartford Life and Annuity Insurance Company
	PA2
	PA2745332CD6
	2,715,000
	

	2,715,000
	

	2,714,876
	

	3,283,646
	

	23.79
	

	 Corporates
	 Utilities
	 A-
	 A

	90131HAZ8
	21ST CENTURY FOX AMERICA INC
	Hartford Life and Annuity Insurance Company
	PA2
	PA290131HAZ8
	3,531,000
	

	3,531,000
	

	4,712,593
	

	4,341,760
	

	11.27
	

	 Corporates
	 Industrial
	 BBB+
	 BBB

	49338CAA1
	KEYSPAN GAS EAST CORPORATION 144A
	Hartford Life and Annuity Insurance Company
	PA2
	PA249338CAA1
	25,155,000
	

	25,155,000
	

	25,155,000
	

	29,993,615
	

	24.25
	

	 Corporates
	 Utilities
	 A-
	 A

	887315AM1
	HISTORIC TW INC
	Hartford Life and Annuity Insurance Company
	PA2
	PA2887315AM1
	8,107,925
	

	8,107,925
	

	9,025,899
	

	10,397,992
	

	6.09
	

	 Corporates
	 Industrial
	 BBB
	 BBB

	
																			
	654894AF1
	NOBLE ENERGY INC
	Hartford Life and Annuity Insurance Company
	PA2
	PA2654894AF1
	11,770,000
	

	11,770,000
	

	12,145,109
	

	14,323,984
	

	10.25
	

	 Corporates
	 Industrial
	 BBB-
	 BBB

	626207YF5
	GEORGIA MUN ELEC AUTH PWR REV
	Hartford Life and Annuity Insurance Company
	PA2
	PA2626207YF5
	15,204,700
	

	15,204,700
	

	17,878,721
	

	18,857,021
	

	27.15
	

	 Corporates
	 Tax Muni
	 A+
	 A

	25272KAR4
	DIAMOND 1 FINANCE CORPORATION/DIAM 144A
	Hartford Life and Annuity Insurance Company
	PA2
	PA225272KAR4
	1,648,870
	

	1,648,870
	

	1,672,436
	

	2,030,234
	

	29.04
	

	 Corporates
	 Industrial
	 BBB-
	 BBB

	592173AE8
	METROPOLITAN LIFE INSURANCE CO 144A
	Hartford Life and Annuity Insurance Company
	PA2
	PA2592173AE8
	7,490,000
	

	7,490,000
	

	7,425,114
	

	9,424,959
	

	8.84
	

	 Corporates
	 Financial
	 A
	 A

	71644EAE2
	PETRO-CANADA
	Hartford Life and Annuity Insurance Company
	PA2
	PA271644EAE2
	14,760,650
	

	14,760,650
	

	15,478,544
	

	18,502,032
	

	9.46
	

	 Corporates
	 Industrial
	 Baa1
	 BBB

	393154AC3
	GREEN MOUNTAIN POWER CORP  Prvt
	Hartford Life and Annuity Insurance Company
	PA2
	PA2393154AC3
	15,000,000
	

	15,000,000
	

	15,000,000
	

	18,979,430
	

	19.59
	

	 Corporates
	 Utilities
	 A
	 A

	309588AE1
	FARMERS EXCHANGE CAPITAL   144A
	Hartford Life and Annuity Insurance Company
	PA2
	PA2309588AE1
	10,700,000
	

	10,700,000
	

	9,225,561
	

	12,136,486
	

	31.54
	

	 Corporates
	 Financial
	 Baa2
	 BBB

	90131HAX3
	21ST CENTURY FOX AMERICA INC
	Hartford Life and Annuity Insurance Company
	PA2
	PA290131HAX3
	5,188,430
	

	5,188,430
	

	6,198,600
	

	6,686,205
	

	8.83
	

	 Corporates
	 Industrial
	 BBB+
	 BBB

	79765RTK5
	SAN FRANCISCO CA CITY & CNTY WTR
	Hartford Life and Annuity Insurance Company
	PA2
	PA279765RTK5
	10,919,350
	

	10,919,350
	

	13,852,553
	

	13,363,537
	

	18.38
	

	 Corporates
	 Tax Muni
	 Aa3
	 AA

	74531EAC6
	PUGET SOUND ENERGY INC. MTN
	Hartford Life and Annuity Insurance Company
	PA2
	PA274531EAC6
	8,025,000
	

	8,025,000
	

	7,835,920
	

	10,171,254
	

	12.19
	

	 Corporates
	 Utilities
	 A-
	 A

	BHM0078Z7
	AQUARION WATER CO OF CT SR UNSEC Prvt
	Hartford Life and Annuity Insurance Company
	PA2
	PA2BHM0078Z7
	8,500,000
	

	8,500,000
	

	8,500,000
	

	10,908,645
	

	17.50
	

	 Corporates
	 Utilities
	 A3
	 A

	91324PBQ4
	UNITEDHEALTH GROUP INC
	Hartford Life and Annuity Insurance Company
	PA2
	PA291324PBQ4
	3,000,000
	

	3,000,000
	

	3,060,236
	

	3,743,457
	

	24.13
	

	 Corporates
	 Financials
	 A-
	 A

	743917AH9
	PRUDENTIAL INSURANCE CO OF AMERICA 144A
	Hartford Life and Annuity Insurance Company
	PA2
	PA2743917AH9
	11,097,450
	

	11,097,450
	

	12,270,353
	

	14,537,149
	

	8.50
	

	 Corporates
	 Financials
	 A
	 A

	172967HA2
	CITIGROUP INC
	Hartford Life and Annuity Insurance Company
	PA2
	PA2172967HA2
	10,700,000
	

	10,700,000
	

	11,958,269
	

	13,562,325
	

	26.70
	

	 Corporates
	 Financial
	 BBB
	 BBB

	45138LAT0
	IDAHO POWER COMPANY MTN
	Hartford Life and Annuity Insurance Company
	PA2
	PA245138LAT0
	5,350,000
	

	5,350,000
	

	5,337,705
	

	6,737,212
	

	20.79
	

	 Corporates
	 Utilities
	 A-
	 A

	264399ED4
	DUKE ENERGY CAROLINAS LLC
	Hartford Life and Annuity Insurance Company
	PA2
	PA2264399ED4
	3,979,000
	

	3,979,000
	

	4,838,319
	

	5,027,972
	

	15.79
	

	 Corporates
	 Utilities
	 A1
	 A

	11041RAL2
	BRITISH AEROSPACE FINANCE INC. 144A
	Hartford Life and Annuity Insurance Company
	PA2
	PA211041RAL2
	14,284,500
	

	14,284,500
	

	14,425,968
	

	18,485,029
	

	10.50
	

	 Corporates
	 Industrial
	 BBB
	 BBB

	437076AV4
	HOME DEPOT INC
	Hartford Life and Annuity Insurance Company
	PA2
	PA2437076AV4
	5,000,000
	

	5,000,000
	

	5,055,374
	

	6,356,345
	

	24.25
	

	 Corporates
	 Industrials
	 A
	 A

	149123BN0
	CATERPILLAR INC
	Hartford Life and Annuity Insurance Company
	PA2
	PA2149123BN0
	28,114,250
	

	28,114,250
	

	28,436,964
	

	35,178,939
	

	19.63
	

	 Corporates
	 Industrial
	 A
	 A

	501044BV2
	KROGER CO. (THE)
	Hartford Life and Annuity Insurance Company
	PA2
	PA2501044BV2
	5,350,000
	

	5,350,000
	

	5,746,073
	

	7,236,961
	

	12.71
	

	 Corporates
	 Industrial
	 BBB
	 BBB

	26442CAB0
	DUKE ENERGY CAROLINAS LLC
	Hartford Life and Annuity Insurance Company
	PA2
	PA226442CAB0
	10,700,000
	

	10,700,000
	

	10,693,580
	

	13,253,223
	

	21.04
	

	 Corporates
	 Utilities
	 AA-
	 AA

	891490AR5
	TOSCO CORP
	Hartford Life and Annuity Insurance Company
	PA2
	PA2891490AR5
	5,885,000
	

	5,885,000
	

	6,113,021
	

	7,524,996
	

	10.00
	

	 Corporates
	 Industrial
	 A-
	 A

	283695BK9
	EL PASO NATURAL GAS COMPANY
	Hartford Life and Annuity Insurance Company
	PA2
	PA2283695BK9
	2,675,000
	

	2,675,000
	

	3,289,539
	

	3,317,329
	

	15.46
	

	 Corporates
	 Industrial
	 BBB-
	 BBB

	17275RAD4
	CISCO SYSTEMS INC
	Hartford Life and Annuity Insurance Company
	PA2
	PA217275RAD4
	18,725,000
	

	18,725,000
	

	18,728,507
	

	23,780,319
	

	22.13
	

	 Corporates
	 Industrial
	 A1
	 A

	00817YAF5
	AETNA INC
	Hartford Life and Annuity Insurance Company
	PA2
	PA200817YAF5
	33,374,200
	

	33,374,200
	

	36,882,162
	

	42,458,223
	

	19.46
	

	 Corporates
	 Financials
	 A-
	 A

	BHM02Z867
	CHEYENNE LIGHT FUEL AND PWR Prvt
	Hartford Life and Annuity Insurance Company
	PA2
	PA2BHM02Z867
	25,000,000
	

	25,000,000
	

	25,000,000
	

	32,002,000
	

	20.89
	

	 Corporates
	 Utilities
	 Baa2
	 BBB

	656531AJ9
	STATOILHYDRO ASA
	Hartford Life and Annuity Insurance Company
	PA2
	PA2656531AJ9
	12,473,525
	

	12,473,525
	

	13,390,017
	

	16,634,356
	

	12.04
	

	 Corporates
	 Non-Corp
	 A+
	 A

	45138LAS2
	IDAHO POWER COMPANY MTN
	Hartford Life and Annuity Insurance Company
	PA2
	PA245138LAS2
	13,375,000
	

	13,375,000
	

	13,443,322
	

	16,772,986
	

	20.46
	

	 Corporates
	 Utilities
	 A-
	 A

	695114CB2
	PACIFICORP
	Hartford Life and Annuity Insurance Company
	PA2
	PA2695114CB2
	5,350,000
	

	5,350,000
	

	5,335,541
	

	6,728,288
	

	19.59
	

	 Corporates
	 Utilities
	 A+
	 A

	046353AD0
	ASTRAZENECA PLC
	Hartford Life and Annuity Insurance Company
	PA2
	PA2046353AD0
	29,425,000
	

	29,425,000
	

	30,937,423
	

	38,066,740
	

	20.71
	

	 Corporates
	 Industrial
	 A-
	 A

	880451AU3
	TENNESSEE GAS PIPELINE CO
	Hartford Life and Annuity Insurance Company
	PA2
	PA2880451AU3
	7,222,500
	

	7,222,500
	

	7,359,449
	

	8,731,663
	

	20.25
	

	 Corporates
	 Industrial
	 BBB-
	 BBB

	207597DV4
	CONNECTICUT LIGHT AND POWER CO
	Hartford Life and Annuity Insurance Company
	PA2
	PA2207597DV4
	4,681,250
	

	4,681,250
	

	4,679,229
	

	5,969,661
	

	19.42
	

	 Corporates
	 Utilities
	 A+
	 A

	665772CB3
	NORTHERN STATES POWER COMPANY (MIN
	Hartford Life and Annuity Insurance Company
	PA2
	PA2665772CB3
	5,403,500
	

	5,403,500
	

	5,387,789
	

	6,998,792
	

	19.42
	

	 Corporates
	 Utilities
	 A+
	 A

	037411AM7
	APACHE CORPORATION
	Hartford Life and Annuity Insurance Company
	PA2
	PA2037411AM7
	7,230,525
	

	7,230,525
	

	8,320,267
	

	9,571,834
	

	30.63
	

	 Corporates
	 Industrial
	 BBB
	 BBB

	
																			
	02765UDN1
	AMERICAN MUN PWR OHIO INC
	Hartford Life and Annuity Insurance Company
	PA2
	PA202765UDN1
	9,504,275
	

	9,504,275
	

	11,569,416
	

	11,239,375
	

	28.32
	

	 Corporates
	 Tax Muni
	 A
	 A

	12201PAB2
	BURLINGTON RESOURCES FINANCE CO
	Hartford Life and Annuity Insurance Company
	PA2
	PA212201PAB2
	29,425,000
	

	29,425,000
	

	29,425,000
	

	37,929,266
	

	14.63
	

	 Corporates
	 Industrial
	 A-
	 A

	534187BA6
	LINCOLN NATIONAL CORP
	Hartford Life and Annuity Insurance Company
	PA2
	PA2534187BA6
	10,700,000
	

	10,700,000
	

	11,807,916
	

	13,509,317
	

	23.46
	

	 Corporates
	 Financial
	 BBB+
	 BBB

	71644EAJ1
	PETRO-CANADA
	Hartford Life and Annuity Insurance Company
	PA2
	PA271644EAJ1
	7,000,000
	

	7,000,000
	

	7,988,308
	

	9,077,404
	

	21.38
	

	 Corporates
	 Industrials
	 Baa1
	 BBB

	167725AF7
	CHICAGO ILL TRAN AUTH
	Hartford Life and Annuity Insurance Company
	PA2
	PA2167725AF7
	10,253,275
	

	10,253,275
	

	11,676,641
	

	12,834,229
	

	16.87
	

	 Corporates
	 Tax Muni
	 A1
	 A

	172967AS0
	CITIGROUP INC
	Hartford Life and Annuity Insurance Company
	PA2
	PA2172967AS0
	7,222,500
	

	7,222,500
	

	7,673,483
	

	9,339,617
	

	81.13
	

	 Corporates
	 Financial
	 BBB+
	 BBB

	209111EU3
	CONSOLIDATED EDISON CO OF NEW YORK
	Hartford Life and Annuity Insurance Company
	PA2
	PA2209111EU3
	2,500,000
	

	2,500,000
	

	3,369,234
	

	3,383,618
	

	21.25
	

	 Corporates
	 Utilities
	 A-
	 A

	097023AS4
	BOEING COMPANY
	Hartford Life and Annuity Insurance Company
	PA2
	PA2097023AS4
	4,633,635
	

	4,633,635
	

	4,820,649
	

	6,273,715
	

	21.13
	

	 Corporates
	 Industrial
	 A
	 A

	44841SAC3
	HUTCHISON WHAMPOA INTERNATIONAL (0 144A
	Hartford Life and Annuity Insurance Company
	PA2
	PA244841SAC3
	13,375,000
	

	13,375,000
	

	13,350,853
	

	18,099,598
	

	16.90
	

	 Corporates
	 Industrial
	 A-
	 A

	64952GAF5
	NEW YORK LIFE INSURANCE COMPANY 144A
	Hartford Life and Annuity Insurance Company
	PA2
	PA264952GAF5
	2,675,000
	

	2,675,000
	

	3,743,003
	

	3,518,441
	

	22.88
	

	 Corporates
	 Financial
	 Aa2
	 AA

	915217RY1
	UNIVERSITY VA
	Hartford Life and Annuity Insurance Company
	PA2
	PA2915217RY1
	16,169,305
	

	16,169,305
	

	18,386,795
	

	21,999,633
	

	22.67
	

	 Corporates
	 Tax Muni
	 AAA
	 AAA

	695114BT4
	PACIFICORP
	Hartford Life and Annuity Insurance Company
	PA2
	PA2695114BT4
	8,827,500
	

	8,827,500
	

	8,953,559
	

	12,792,539
	

	14.88
	

	 Corporates
	 Utilities
	 A+
	 A

	902133AG2
	TYCO ELECTRONICS GROUP SA
	Hartford Life and Annuity Insurance Company
	PA2
	PA2902133AG2
	12,385,250
	

	12,385,250
	

	13,279,726
	

	16,129,051
	

	20.75
	

	 Corporates
	 Industrial
	 A-
	 A

	25156PAC7
	DEUTSCHE TELEKOM INTL FIN
	Hartford Life and Annuity Insurance Company
	PA2
	PA225156PAC7
	16,718,750
	

	16,718,750
	

	17,190,920
	

	24,578,485
	

	13.46
	

	 Corporates
	 Industrial
	 BBB+
	 BBB

	740816AG8
	PRESIDENT AND FELLOWS OF HARVARD 144A
	Hartford Life and Annuity Insurance Company
	PA2
	PA2740816AG8
	10,568,925
	

	10,568,925
	

	12,574,116
	

	15,002,462
	

	22.04
	

	 Corporates
	 Industrial
	 Aaa
	 AAA

	316773CH1
	FIFTH THIRD BANCORP
	Hartford Life and Annuity Insurance Company
	PA2
	PA2316773CH1
	21,400,000
	

	21,400,000
	

	21,349,645
	

	29,746,856
	

	21.17
	

	 Corporates
	 Financial
	 Baa1
	 BBB

	233835AQ0
	DAIMLERCHRYSLER NORTH AMERICA HLDG
	Hartford Life and Annuity Insurance Company
	PA2
	PA2233835AQ0
	7,063,605
	

	7,063,605
	

	8,069,799
	

	10,638,856
	

	14.05
	

	 Corporates
	 Industrial
	 A-
	 A

	111021AE1
	BRITISH TELECOMMUNICATIONS PLC
	Hartford Life and Annuity Insurance Company
	PA2
	PA2111021AE1
	14,506,525
	

	14,506,525
	

	16,392,269
	

	22,132,315
	

	13.96
	

	 Corporates
	 Industrial
	 BBB+
	 BBB

	03523TBF4
	ANHEUSER-BUSCH INBEV WORLDWIDE INC
	Hartford Life and Annuity Insurance Company
	PA2
	PA203523TBF4
	7,133,690
	

	7,133,690
	

	7,117,036
	

	10,728,314
	

	22.04
	

	 Corporates
	 Industrial
	 A3
	 A

	90131HBJ3
	21ST CENTURY FOX AMERICA INC
	Hartford Life and Annuity Insurance Company
	PA2
	PA290131HBJ3
	8,025,000
	

	8,025,000
	

	9,209,581
	

	10,916,014
	

	19.80
	

	 Corporates
	 Industrial
	 BBB+
	 BBB

	097023AE5
	BOEING COMPANY
	Hartford Life and Annuity Insurance Company
	PA2
	PA2097023AE5
	11,045,075
	

	11,045,075
	

	13,147,736
	

	16,937,832
	

	14.71
	

	 Corporates
	 Industrial
	 A
	 A

	13063BJC7
	STATE OF CALIFORNIA
	Hartford Life and Annuity Insurance Company
	PA2
	PA213063BJC7
	11,761,975
	

	11,761,975
	

	15,196,727
	

	17,716,828
	

	23.84
	

	 Corporates
	 Tax Muni
	 AA-
	 AA

	91913YAP5
	VALERO ENERGY CORP
	Hartford Life and Annuity Insurance Company
	PA2
	PA291913YAP5
	5,593,425
	

	5,593,425
	

	5,580,163
	

	8,554,377
	

	22.21
	

	 Corporates
	 Industrial
	 BBB
	 BBB

	55608PAA2
	MACQUARIE BANK LTD         144A
	Hartford Life and Annuity Insurance Company
	PA2
	PA255608PAA2
	3,000,000
	

	3,000,000
	

	2,999,937
	

	3,015,027
	

	0.14
	

	 Corporates
	 Financials
	 A
	 A

	62718QAA3
	MURRAY STREET INVESTMENT TRUST I
	Hartford Life and Annuity Insurance Company
	PA2
	PA262718QAA3
	3,000,000
	

	3,000,000
	

	2,999,846
	

	3,015,630
	

	0.19
	

	 Corporates
	 Financials
	 A3
	 A

	BHM02SKS1
	GALLAGHER ARTHUR J. & CO. - B Prvt
	Hartford Life and Annuity Insurance Company
	PA2
	PA2BHM02SKS1
	5,000,000
	

	5,000,000
	

	5,112,141
	

	5,107,800
	

	0.59
	

	 Corporates
	 Financials
	 Baa3
	 BBB

	44891AAA5
	HYUNDAI CAPITAL AMERICA    144A
	Hartford Life and Annuity Insurance Company
	PA2
	PA244891AAA5
	6,000,000
	

	6,000,000
	

	5,994,488
	

	5,998,908
	

	1.22
	

	 Corporates
	 Industrials
	 Baa1
	 BBB

	26250JAJ9
	DRSLF_12-25A   B1R 144A
	Hartford Life and Annuity Insurance Company
	PA2
	PA226250JAJ9
	4,250,000
	

	4,250,000
	

	4,250,000
	

	4,243,592
	

	5.83
	

	 CLO
	 CLO
	 AA
	 AA

	26250JAL4
	DRSLF_12-25A   B2R 144A
	Hartford Life and Annuity Insurance Company
	PA2
	PA226250JAL4
	1,750,000
	

	1,750,000
	

	1,750,000
	

	1,747,361
	

	5.83
	

	 CLO
	 CLO
	 AA
	 AA

	70069FDL8
	PPSI_04-WWF1    M3
	Hartford Life and Annuity Insurance Company
	PA2
	PA270069FDL8
	19,100,000
	

	11,157,473
	

	10,819,268
	

	11,099,353
	

	0.64
	

	 ABS
	 Home Equity
	 A+
	 A

	004421PR8
	ACE_05-HE4      M2
	Hartford Life and Annuity Insurance Company
	PA2
	PA2004421PR8
	20,006,000
	

	4,332,441
	

	4,154,447
	

	4,310,783
	

	0.43
	

	 ABS
	 Home Equity
	 Baa3
	 BBB

	07388YAG7
	BSCMS_07-PW16     AM
	Hartford Life and Annuity Insurance Company
	PA2
	PA207388YAG7
	2,100,000
	

	2,100,000
	

	2,097,386
	

	2,127,479
	

	0.38
	

	 CMBS
	 CMBS
	 A2
	 A

	93364LAD0
	WMCMS_07-SL3    AJ 144A
	Hartford Life and Annuity Insurance Company
	PA2
	PA293364LAD0
	8,000,000
	

	4,998,062
	

	4,060,075
	

	4,976,520
	

	0.22
	

	 CMBS
	 CMBS
	 Aaa
	 AAA

	93364LAE8
	WMCMS_07-SL3     B 144A
	Hartford Life and Annuity Insurance Company
	PA2
	PA293364LAE8
	5,000,000
	

	5,000,000
	

	4,972,746
	

	4,920,300
	

	1.75
	

	 CMBS
	 CMBS
	 Aa1
	 AA

ANNEX B-1
ASSETS IN CONNECTION WITH ESTIMATED INITIAL REINSURANCE PREMIUM PART B
[see attached]

	
											
	 CUSIP
	Position Description
	Legal Entity
	 Portfolio
	Par/Shares
	Closing Date Market Value (excl Accrued)
	Accrued Interest
	UniqueID

	61766RBA3
	MSBAM_16-C31    XA
	Hartford Life and Annuity Insurance Company
	PA2
	(250,839
	)
	(21,537
	)
	 NA
	PA261766RBA3

	032511BB2
	ANADARKO PETROLEUM CORPORATION
	Hartford Life and Annuity Insurance Company
	PA2
	(350,000
	)
	(149,349
	)
	 NA
	PA2032511BB2

	358266CJ1
	FRESNO CNTY CA TXBL PENS 04A FGIC
	Hartford Life and Annuity Insurance Company
	PA2
	1,700
	

	899
	

	—
	

	PA2358266CJ1

	736679LD1
	PORTLAND OR TXBL PENSION CAB MBIA
	Hartford Life and Annuity Insurance Company
	PA2
	4,050
	

	2,809
	

	—
	

	PA2736679LD1

	20030NBU4
	COMCAST CORPORATION
	Hartford Life and Annuity Insurance Company
	PA2
	500
	

	402
	

	6
	

	PA220030NBU4

	60636AMS9
	MISSOURI ST HEALTH & EDL FACS
	Hartford Life and Annuity Insurance Company
	PA2
	4,000
	

	3,361
	

	24
	

	PA260636AMS9

	92343VDC5
	VERIZON COMMUNICATIONS INC
	Hartford Life and Annuity Insurance Company
	PA2
	770
	

	666
	

	9
	

	PA292343VDC5

	167486PG8
	CHICAGO ILL TAXBL REF
	Hartford Life and Annuity Insurance Company
	PA2
	2,000
	

	1,815
	

	44
	

	PA2167486PG8

	9128282A7
	TREASURY NOTE (OLD)
	Hartford Life and Annuity Insurance Company
	PA2
	(10,770,000
	)
	(9,650,082
	)
	 NA
	PA29128282A7

	74913EAJ9
	QWEST CAPITAL FUNDING
	Hartford Life and Annuity Insurance Company
	PA2
	(1,353,000
	)
	(1,243,786
	)
	 NA
	PA274913EAJ9

	912828U24
	TREASURY NOTE (OTR)
	Hartford Life and Annuity Insurance Company
	PA2
	(4,830,000
	)
	(4,492,277
	)
	 NA
	PA2912828U24

	92343VCV4
	VERIZON COMMUNICATIONS INC
	Hartford Life and Annuity Insurance Company
	PA2
	27,500
	

	25,618
	

	427
	

	PA292343VCV4

	BHM15X6S1
	HTFD CONCORDVIL   PN Prvt
	Hartford Life and Annuity Insurance Company
	PA2
	(779,068
	)
	(737,203
	)
	 NA
	PA2BHM15X6S1

	BHM1KXMB3
	VIRGINIA INTERNATIONAL GATEWAY INC Prvt
	Hartford Life and Annuity Insurance Company
	PA2
	40,385
	

	38,295
	

	234
	

	PA2BHM1KXMB3

	BHM0MZCQ6
	DESERT SUNLIGHT FUNDING I-GTD Prvt
	Hartford Life and Annuity Insurance Company
	PA2
	84,845
	

	80,493
	

	405
	

	PA2BHM0MZCQ6

	540424AR9
	LOEWS CORPORATION
	Hartford Life and Annuity Insurance Company
	PA2
	275
	

	257
	

	—
	

	PA2540424AR9

	552081AM3
	LYONDELLBASELL INDUSTRIES NV
	Hartford Life and Annuity Insurance Company
	PA2
	650
	

	608
	

	8
	

	PA2552081AM3

	912810RU4
	TREASURY BOND (OTR)
	Hartford Life and Annuity Insurance Company
	PA2
	(2,180,000
	)
	(2,090,160
	)
	 NA
	PA2912810RU4

	912828U57
	TREASURY NOTE (OLD)
	Hartford Life and Annuity Insurance Company
	PA2
	(560,000
	)
	(540,662
	)
	 NA
	PA2912828U57

	3132WEB43
	MBS
	Hartford Life and Annuity Insurance Company
	PA2
	(806,834
	)
	(778,891
	)
	 NA
	PA23132WEB43

	3132WED25
	MBS
	Hartford Life and Annuity Insurance Company
	PA2
	(1,545,382
	)
	(1,492,102
	)
	 NA
	PA23132WED25

	3138WG5Q3
	MBS
	Hartford Life and Annuity Insurance Company
	PA2
	(3,451,412
	)
	(3,333,671
	)
	 NA
	PA23138WG5Q3

	3138WHFN7
	MBS
	Hartford Life and Annuity Insurance Company
	PA2
	(579,307
	)
	(559,549
	)
	 NA
	PA23138WHFN7

	3140F5QW6
	MBS
	Hartford Life and Annuity Insurance Company
	PA2
	(796,465
	)
	(769,313
	)
	 NA
	PA23140F5QW6

	3138WHFR8
	MBS
	Hartford Life and Annuity Insurance Company
	PA2
	(1,941,001
	)
	(1,874,833
	)
	 NA
	PA23138WHFR8

	3140F5MJ9
	MBS
	Hartford Life and Annuity Insurance Company
	PA2
	(118,161
	)
	(114,134
	)
	 NA
	PA23140F5MJ9

	969457BU3
	WILLIAMS COS INC
	Hartford Life and Annuity Insurance Company
	PA2
	(322,000
	)
	(314,353
	)
	 NA
	PA2969457BU3

	912828U65
	TREASURY NOTE (OLD)
	Hartford Life and Annuity Insurance Company
	PA2
	(560,000
	)
	(542,566
	)
	 NA
	PA2912828U65

	05565QCD8
	BP CAPITAL MARKETS PLC
	Hartford Life and Annuity Insurance Company
	PA2
	250
	

	242
	

	—
	

	PA205565QCD8

	92343VCM4
	VERIZON COMMUNICATIONS INC
	Hartford Life and Annuity Insurance Company
	PA2
	895
	

	853
	

	12
	

	PA292343VCM4

	BHM1ANBZ5
	VERIZON CORPORATE SERVICES GROUP I Prvt
	Hartford Life and Annuity Insurance Company
	PA2
	(246,445
	)
	(239,391
	)
	 NA
	PA2BHM1ANBZ5

	BHM13T3U0
	HTFD ELEMENT AT   PN Prvt
	Hartford Life and Annuity Insurance Company
	PA2
	(852,454
	)
	(830,687
	)
	 NA
	PA2BHM13T3U0

	260543CG6
	DOW CHEMICAL COMPANY (THE)
	Hartford Life and Annuity Insurance Company
	PA2
	435
	

	416
	

	1
	

	PA2260543CG6

	
											
	76112B2D1
	RAMP_06-RS2    A3A
	Hartford Life and Annuity Insurance Company
	PA2
	(442,353
	)
	(432,979
	)
	 NA
	PA276112B2D1

	912828T59
	TREASURY NOTE (2OLD)
	Hartford Life and Annuity Insurance Company
	PA2
	(310,000
	)
	(304,163
	)
	 NA
	PA2912828T59

	BHM0LCEA1
	BASIN ELECTRIC POWER COOPERATIVE I Prvt
	Hartford Life and Annuity Insurance Company
	PA2
	(778,600
	)
	(764,072
	)
	 NA
	PA2BHM0LCEA1

	718549AE8
	PHILLIPS 66 PARTNERS LP
	Hartford Life and Annuity Insurance Company
	PA2
	110
	

	108
	

	1
	

	PA2718549AE8

	12665UAA2
	CVS PASSTHROUGH TRUST      144A
	Hartford Life and Annuity Insurance Company
	PA2
	(17,282
	)
	(16,867
	)
	 NA
	PA212665UAA2

	81745DAE1
	SEMT_13-9       A1 144A
	Hartford Life and Annuity Insurance Company
	PA2
	(2,326,394
	)
	(2,295,406
	)
	 NA
	PA281745DAE1

	BHM0RMP52
	HTFD LIT IX WHL   PN Prvt
	Hartford Life and Annuity Insurance Company
	PA2
	(45,783
	)
	(45,413
	)
	 NA
	PA2BHM0RMP52

	50077LAM8
	KRAFT HEINZ FOODS CO
	Hartford Life and Annuity Insurance Company
	PA2
	100
	

	99
	

	2
	

	PA250077LAM8

	25470XAE5
	DISH DBS CORP
	Hartford Life and Annuity Insurance Company
	PA2
	(1,807,000
	)
	(1,804,741
	)
	 NA
	PA225470XAE5

	591894CB4
	METROPOLITAN EDISON COMPANY 144A
	Hartford Life and Annuity Insurance Company
	PA2
	525
	

	524
	

	2
	

	PA2591894CB4

	681919AZ9
	OMNICOM GROUP INC
	Hartford Life and Annuity Insurance Company
	PA2
	700
	

	699
	

	2
	

	PA2681919AZ9

	BHM03GBH0
	NJNGC FIRST MORTGAGE BONDS Prvt
	Hartford Life and Annuity Insurance Company
	PA2
	(10,000,000
	)
	(10,000,000
	)
	 NA
	PA2BHM03GBH0

	BHM0MN8Z8
	HTFD GAEDEKE PO   PN Prvt
	Hartford Life and Annuity Insurance Company
	PA2
	(481,209
	)
	(482,031
	)
	 NA
	PA2BHM0MN8Z8

	32027NVV0
	FFML_05-FF9     A4
	Hartford Life and Annuity Insurance Company
	PA2
	(559,822
	)
	(562,541
	)
	 NA
	PA232027NVV0

	BHM15T4C7
	HTFD ENCLAVE AT   PN Prvt
	Hartford Life and Annuity Insurance Company
	PA2
	(600,470
	)
	(603,572
	)
	 NA
	PA2BHM15T4C7

	14149YBD9
	CARDINAL HEALTH INC
	Hartford Life and Annuity Insurance Company
	PA2
	625
	

	604
	

	6
	

	PA214149YBD9

	209111FK4
	CONSOLIDATED EDISON COMPANY OF NEW
	Hartford Life and Annuity Insurance Company
	PA2
	500
	

	495
	

	10
	

	PA2209111FK4

	80282KAE6
	SANTANDER HOLDINGS USA INC
	Hartford Life and Annuity Insurance Company
	PA2
	750
	

	748
	

	12
	

	PA280282KAE6

	882484AA6
	TEXAS HEALTH RESOURCES
	Hartford Life and Annuity Insurance Company
	PA2
	25
	

	25
	

	—
	

	PA2882484AA6

	12626PAJ2
	CRH AMERICA INC.
	Hartford Life and Annuity Insurance Company
	PA2
	(5,000,000
	)
	(5,033,552
	)
	 NA
	PA212626PAJ2

	BHM0L66Z8
	HTFD GRI-REGENC   PN Prvt
	Hartford Life and Annuity Insurance Company
	PA2
	(853,637
	)
	(863,720
	)
	 NA
	PA2BHM0L66Z8

	BHM0L6753
	HTFD GRI-REGENC   PN Prvt
	Hartford Life and Annuity Insurance Company
	PA2
	(609,741
	)
	(618,230
	)
	 NA
	PA2BHM0L6753

	BHM04XRH5
	FOOTBALL TRUST IV Prvt
	Hartford Life and Annuity Insurance Company
	PA2
	(4,130,435
	)
	(4,176,971
	)
	 NA
	PA2BHM04XRH5

	BHM0KTWD9
	HTFD AQUATERA A   PN Prvt
	Hartford Life and Annuity Insurance Company
	PA2
	(938,094
	)
	(952,647
	)
	 NA
	PA2BHM0KTWD9

	66989HAK4
	NOVARTIS CAPITAL CORP
	Hartford Life and Annuity Insurance Company
	PA2
	2,775
	

	2,788
	

	2
	

	PA266989HAK4

	212015AH4
	CONTINENTAL RESOURCES INC
	Hartford Life and Annuity Insurance Company
	PA2
	(405,000
	)
	(412,141
	)
	 NA
	PA2212015AH4

	BHM0JB0A1
	HTFD AMB INDUST   PN Prvt
	Hartford Life and Annuity Insurance Company
	PA2
	(262,019
	)
	(267,100
	)
	 NA
	PA2BHM0JB0A1

	125581GQ5
	CIT GROUP INC
	Hartford Life and Annuity Insurance Company
	PA2
	(545,000
	)
	(554,200
	)
	 NA
	PA2125581GQ5

	BHM0JEJL1
	HTFD REGENCY PO   PN Prvt
	Hartford Life and Annuity Insurance Company
	PA2
	(238,304
	)
	(243,803
	)
	 NA
	PA2BHM0JEJL1

	BHM0JEJN7
	HTFD REGENCY PO   PN Prvt
	Hartford Life and Annuity Insurance Company
	PA2
	(877,418
	)
	(899,103
	)
	 NA
	PA2BHM0JEJN7

	853496AB3
	STANDARD INDUSTRIES INC    144A
	Hartford Life and Annuity Insurance Company
	PA2
	(339,000
	)
	(344,933
	)
	 NA
	PA2853496AB3

	87264AAL9
	T-MOBILE USA INC
	Hartford Life and Annuity Insurance Company
	PA2
	(7,598,000
	)
	(7,849,722
	)
	 NA
	PA287264AAL9

	BHM0JEHH2
	HTFD REGENCY PO   PN Prvt
	Hartford Life and Annuity Insurance Company
	PA2
	(242,120
	)
	(250,402
	)
	 NA
	PA2BHM0JEHH2

	482480AE0
	KLA-TENCOR CORPORATION
	Hartford Life and Annuity Insurance Company
	PA2
	725
	

	755
	

	2
	

	PA2482480AE0

	
											
	98417EAR1
	GLENCORE FINANCE CANADA LTD 144A
	Hartford Life and Annuity Insurance Company
	PA2
	850
	

	849
	

	4
	

	PA298417EAR1

	375558BD4
	GILEAD SCIENCES INC
	Hartford Life and Annuity Insurance Company
	PA2
	250
	

	259
	

	3
	

	PA2375558BD4

	55336VAJ9
	MPLX LP
	Hartford Life and Annuity Insurance Company
	PA2
	625
	

	646
	

	15
	

	PA255336VAJ9

	BHM0H7EB5
	TRANSWESTERN PIPELINE CO SENIOR Prvt
	Hartford Life and Annuity Insurance Company
	PA2
	(5,000,000
	)
	(5,178,771
	)
	 NA
	PA2BHM0H7EB5

	035242AN6
	ANHEUSER-BUSCH INBEV FINANCE INC
	Hartford Life and Annuity Insurance Company
	PA2
	440
	

	454
	

	7
	

	PA2035242AN6

	63938CAD0
	NAVIENT CORP
	Hartford Life and Annuity Insurance Company
	PA2
	(361,000
	)
	(374,989
	)
	 NA
	PA263938CAD0

	92826CAF9
	VISA INC
	Hartford Life and Annuity Insurance Company
	PA2
	80
	

	83
	

	2
	

	PA292826CAF9

	190760HT8
	COBB-MARIETTA GA COLISEUM & EX
	Hartford Life and Annuity Insurance Company
	PA2
	775
	

	807
	

	14
	

	PA2190760HT8

	496902AN7
	KINROSS GOLD CORP
	Hartford Life and Annuity Insurance Company
	PA2
	(357,000
	)
	(369,495
	)
	 NA
	PA2496902AN7

	4520015Y2
	ILLINOIOS ED FACS AUTH REVS
	Hartford Life and Annuity Insurance Company
	PA2
	1,800
	

	1,885
	

	41
	

	PA24520015Y2

	BHM014GK7
	DODGER TICKETS LLC SER A SR SEC Prvt
	Hartford Life and Annuity Insurance Company
	PA2
	(1,533,927
	)
	(1,614,343
	)
	 NA
	PA2BHM014GK7

	521865AX3
	LEAR CORP
	Hartford Life and Annuity Insurance Company
	PA2
	315
	

	330
	

	6
	

	PA2521865AX3

	278058AK8
	EATON CORP
	Hartford Life and Annuity Insurance Company
	PA2
	375
	

	396
	

	15
	

	PA2278058AK8

	BHM01J674
	WELLS FARGO-WACHOVIA BANK  Prvt
	Hartford Life and Annuity Insurance Company
	PA2
	(1,100,084
	)
	(1,168,639
	)
	 NA
	PA2BHM01J674

	347382AA1
	FORT GORDON GA MILITARY HSG 144A
	Hartford Life and Annuity Insurance Company
	PA2
	825
	

	913
	

	2
	

	PA2347382AA1

	BHM01JC69
	UBS 733 THIRD A   PN Prvt
	Hartford Life and Annuity Insurance Company
	PA2
	(708,459
	)
	(770,973
	)
	 NA
	PA2BHM01JC69

	BHM01NWT8
	UBS 605 3RD AVE   PN Prvt
	Hartford Life and Annuity Insurance Company
	PA2
	(746,423
	)
	(813,254
	)
	 NA
	PA2BHM01NWT8

	752123JH3
	RANCHO CUCAMONGA  REDEV TAX ALLOC
	Hartford Life and Annuity Insurance Company
	PA2
	100
	

	109
	

	1
	

	PA2752123JH3

	718846AM0
	PHOENIX AZ CIVIC IMP RENT CAR FGIC
	Hartford Life and Annuity Insurance Company
	PA2
	1,700
	

	1,860
	

	42
	

	PA2718846AM0

	67704LAA9
	OGLETHORPE PWR CORP GA 1ST MTG 144A
	Hartford Life and Annuity Insurance Company
	PA2
	50,000
	

	54,895
	

	1,114
	

	PA267704LAA9

	134011AJ4
	CAMP PENDLETON/QUANTICO    144A
	Hartford Life and Annuity Insurance Company
	PA2
	850
	

	946
	

	7
	

	PA2134011AJ4

	949746RF0
	WELLS FARGO & COMPANY
	Hartford Life and Annuity Insurance Company
	PA2
	630
	

	694
	

	13
	

	PA2949746RF0

	BHM02H3Y1
	NEW CARDINALS STADIUM LLC  Prvt
	Hartford Life and Annuity Insurance Company
	PA2
	(548,702
	)
	(610,517
	)
	 NA
	PA2BHM02H3Y1

	24668PAE7
	KONINKLIJKE AHOLD DELHAIZE NV
	Hartford Life and Annuity Insurance Company
	PA2
	665
	

	735
	

	6
	

	PA224668PAE7

	126408GU1
	CSX CORP
	Hartford Life and Annuity Insurance Company
	PA2
	535
	

	596
	

	3
	

	PA2126408GU1

	694308GK7
	PACIFIC GAS & ELECTRIC CO
	Hartford Life and Annuity Insurance Company
	PA2
	625
	

	712
	

	9
	

	PA2694308GK7

	15135UAF6
	CENOVUS ENERGY INC
	Hartford Life and Annuity Insurance Company
	PA2
	(9,850,000
	)
	(11,277,541
	)
	 NA
	PA215135UAF6

	136055AA8
	CANADIAN IMPERIAL BANK OF COMMERCE 144A
	Hartford Life and Annuity Insurance Company
	PA2
	9,737
	

	11,149
	

	90
	

	PA2136055AA8

	586054AA6
	MEMORIAL SLOAN-KETTERING CANCER CT
	Hartford Life and Annuity Insurance Company
	PA2
	165
	

	190
	

	3
	

	PA2586054AA6

	21684AAB2
	RABOBANK NEDERLAND
	Hartford Life and Annuity Insurance Company
	PA2
	975
	

	1,120
	

	27
	

	PA221684AAB2

	68389XAM7
	ORACLE CORPORATION
	Hartford Life and Annuity Insurance Company
	PA2
	500
	

	583
	

	10
	

	PA268389XAM7

	49337WAJ9
	KEYSPAN CORP
	Hartford Life and Annuity Insurance Company
	PA2
	500
	

	583
	

	4
	

	PA249337WAJ9

	976657AG1
	WISCONSIN ENERGY CORP
	Hartford Life and Annuity Insurance Company
	PA2
	525
	

	611
	

	5
	

	PA2976657AG1

	724060AA6
	PIPELINE FUNDING COMPANY LLC 144A
	Hartford Life and Annuity Insurance Company
	PA2
	3
	

	4
	

	—
	

	PA2724060AA6

	
											
	626207YS7
	GEORGIA MUN ELEC AUTH
	Hartford Life and Annuity Insurance Company
	PA2
	68,180
	

	81,127
	

	735
	

	PA2626207YS7

	143658AH5
	CARNIVAL CORPORATION
	Hartford Life and Annuity Insurance Company
	PA2
	270
	

	320
	

	7
	

	PA2143658AH5

	199575AV3
	COLUMBUS SOUTHERN POWER CO
	Hartford Life and Annuity Insurance Company
	PA2
	525
	

	621
	

	5
	

	PA2199575AV3

	048677AG3
	ATLANTIC MARINE CORPS COMMUNITIES 144A
	Hartford Life and Annuity Insurance Company
	PA2
	674
	

	802
	

	20
	

	PA2048677AG3

	136385AL5
	CANADIAN NATURAL RESOURCES LIMITED
	Hartford Life and Annuity Insurance Company
	PA2
	500
	

	602
	

	6
	

	PA2136385AL5

	71644EAF9
	PETRO-CANADA
	Hartford Life and Annuity Insurance Company
	PA2
	575
	

	688
	

	1
	

	PA271644EAF9

	BHM042GE2
	CONSOLIDATED EDISON INC    Prvt
	Hartford Life and Annuity Insurance Company
	PA2
	(94,592
	)
	(113,193
	)
	 NA
	PA2BHM042GE2

	61980AAD5
	MOTIVA ENTERPRISES LLC     144A
	Hartford Life and Annuity Insurance Company
	PA2
	25
	

	30
	

	1
	

	PA261980AAD5

	56585AAF9
	MARATHON PETROLEUM CORP
	Hartford Life and Annuity Insurance Company
	PA2
	275
	

	330
	

	4
	

	PA256585AAF9

	459200GS4
	INTERNATIONAL BUSINESS MACHINES CO
	Hartford Life and Annuity Insurance Company
	PA2
	825
	

	989
	

	23
	

	PA2459200GS4

	36186CBY8
	ALLY FINANCIAL INC
	Hartford Life and Annuity Insurance Company
	PA2
	(557,000
	)
	(668,400
	)
	 NA
	PA236186CBY8

	887315AM1
	HISTORIC TW INC
	Hartford Life and Annuity Insurance Company
	PA2
	75
	

	91
	

	2
	

	PA2887315AM1

	626207YF5
	GEORGIA MUN ELEC AUTH PWR REV
	Hartford Life and Annuity Insurance Company
	PA2
	300
	

	372
	

	3
	

	PA2626207YF5

	25272KAR4
	DIAMOND 1 FINANCE CORPORATION/DIAM 144A
	Hartford Life and Annuity Insurance Company
	PA2
	130
	

	158
	

	4
	

	PA225272KAR4

	71644EAE2
	PETRO-CANADA
	Hartford Life and Annuity Insurance Company
	PA2
	350
	

	430
	

	12
	

	PA271644EAE2

	90131HAX3
	21ST CENTURY FOX AMERICA INC
	Hartford Life and Annuity Insurance Company
	PA2
	570
	

	696
	

	3
	

	PA290131HAX3

	79765RTK5
	SAN FRANCISCO CA CITY & CNTY WTR
	Hartford Life and Annuity Insurance Company
	PA2
	650
	

	805
	

	3
	

	PA279765RTK5

	743917AH9
	PRUDENTIAL INSURANCE CO OF AMERICA 144A
	Hartford Life and Annuity Insurance Company
	PA2
	550
	

	686
	

	18
	

	PA2743917AH9

	11041RAL2
	BRITISH AEROSPACE FINANCE INC. 144A
	Hartford Life and Annuity Insurance Company
	PA2
	500
	

	621
	

	15
	

	PA211041RAL2

	149123BN0
	CATERPILLAR INC
	Hartford Life and Annuity Insurance Company
	PA2
	750
	

	946
	

	13
	

	PA2149123BN0

	00817YAF5
	AETNA INC
	Hartford Life and Annuity Insurance Company
	PA2
	800
	

	998
	

	24
	

	PA200817YAF5

	656531AJ9
	STATOILHYDRO ASA
	Hartford Life and Annuity Insurance Company
	PA2
	475
	

	603
	

	12
	

	PA2656531AJ9

	880451AU3
	TENNESSEE GAS PIPELINE CO
	Hartford Life and Annuity Insurance Company
	PA2
	500
	

	627
	

	6
	

	PA2880451AU3

	207597DV4
	CONNECTICUT LIGHT AND POWER CO
	Hartford Life and Annuity Insurance Company
	PA2
	750
	

	954
	

	23
	

	PA2207597DV4

	665772CB3
	NORTHERN STATES POWER COMPANY (MIN
	Hartford Life and Annuity Insurance Company
	PA2
	500
	

	642
	

	15
	

	PA2665772CB3

	037411AM7
	APACHE CORPORATION
	Hartford Life and Annuity Insurance Company
	PA2
	475
	

	617
	

	10
	

	PA2037411AM7

	02765UDN1
	AMERICAN MUN PWR OHIO INC
	Hartford Life and Annuity Insurance Company
	PA2
	725
	

	942
	

	12
	

	PA202765UDN1

	167725AF7
	CHICAGO ILL TRAN AUTH
	Hartford Life and Annuity Insurance Company
	PA2
	1,725
	

	2,245
	

	58
	

	PA2167725AF7

	172967AS0
	CITIGROUP INC
	Hartford Life and Annuity Insurance Company
	PA2
	500
	

	651
	

	10
	

	PA2172967AS0

	097023AS4
	BOEING COMPANY
	Hartford Life and Annuity Insurance Company
	PA2
	365
	

	491
	

	7
	

	PA2097023AS4

	915217RY1
	UNIVERSITY VA
	Hartford Life and Annuity Insurance Company
	PA2
	695
	

	940
	

	10
	

	PA2915217RY1

	695114BT4
	PACIFICORP
	Hartford Life and Annuity Insurance Company
	PA2
	500
	

	683
	

	1
	

	PA2695114BT4

	902133AG2
	TYCO ELECTRONICS GROUP SA
	Hartford Life and Annuity Insurance Company
	PA2
	750
	

	1,016
	

	8
	

	PA2902133AG2

	25156PAC7
	DEUTSCHE TELEKOM INTL FIN
	Hartford Life and Annuity Insurance Company
	PA2
	250
	

	345
	

	10
	

	PA225156PAC7

	
											
	740816AG8
	PRESIDENT AND FELLOWS OF HARVARD 144A
	Hartford Life and Annuity Insurance Company
	PA2
	75
	

	104
	

	2
	

	PA2740816AG8

	233835AQ0
	DAIMLERCHRYSLER NORTH AMERICA HLDG
	Hartford Life and Annuity Insurance Company
	PA2
	395
	

	560
	

	12
	

	PA2233835AQ0

	111021AE1
	BRITISH TELECOMMUNICATIONS PLC
	Hartford Life and Annuity Insurance Company
	PA2
	475
	

	679
	

	19
	

	PA2111021AE1

	03523TBF4
	ANHEUSER-BUSCH INBEV WORLDWIDE INC
	Hartford Life and Annuity Insurance Company
	PA2
	310
	

	449
	

	9
	

	PA203523TBF4

	097023AE5
	BOEING COMPANY
	Hartford Life and Annuity Insurance Company
	PA2
	925
	

	1,362
	

	16
	

	PA2097023AE5

	13063BJC7
	STATE OF CALIFORNIA
	Hartford Life and Annuity Insurance Company
	PA2
	3,025
	

	4,566
	

	16
	

	PA213063BJC7

	91913YAP5
	VALERO ENERGY CORP
	Hartford Life and Annuity Insurance Company
	PA2
	575
	

	944
	

	12
	

	PA291913YAP5

	55608PAA2
	MACQUARIE BANK LTD         144A
	Hartford Life and Annuity Insurance Company
	PA2
	(3,000,000
	)
	(3,000,000
	)
	 NA
	PA255608PAA2

	62718QAA3
	MURRAY STREET INVESTMENT TRUST I
	Hartford Life and Annuity Insurance Company
	PA2
	(3,000,000
	)
	(3,000,000
	)
	 NA
	PA262718QAA3

	BHM02SKS1
	GALLAGHER ARTHUR J. & CO. - B Prvt
	Hartford Life and Annuity Insurance Company
	PA2
	(5,000,000
	)
	(5,000,000
	)
	 NA
	PA2BHM02SKS1

	44891AAA5
	HYUNDAI CAPITAL AMERICA    144A
	Hartford Life and Annuity Insurance Company
	PA2
	(6,000,000
	)
	(6,000,000
	)
	 NA
	PA244891AAA5

	26250JAJ9
	DRSLF_12-25A   B1R 144A
	Hartford Life and Annuity Insurance Company
	PA2
	(4,250,000
	)
	(4,250,000
	)
	 NA
	PA226250JAJ9

	26250JAL4
	DRSLF_12-25A   B2R 144A
	Hartford Life and Annuity Insurance Company
	PA2
	(1,750,000
	)
	(1,750,000
	)
	 NA
	PA226250JAL4

	70069FDL8
	PPSI_04-WWF1    M3
	Hartford Life and Annuity Insurance Company
	PA2
	(11,157,473
	)
	(11,157,473
	)
	 NA
	PA270069FDL8

	004421PR8
	ACE_05-HE4      M2
	Hartford Life and Annuity Insurance Company
	PA2
	(4,332,441
	)
	(4,332,441
	)
	 NA
	PA2004421PR8

	07388YAG7
	BSCMS_07-PW16     AM
	Hartford Life and Annuity Insurance Company
	PA2
	(2,100,000
	)
	(2,100,000
	)
	 NA
	PA207388YAG7

	93364LAD0
	WMCMS_07-SL3    AJ 144A
	Hartford Life and Annuity Insurance Company
	PA2
	(4,998,062
	)
	(4,998,062
	)
	 NA
	PA293364LAD0

	93364LAE8
	WMCMS_07-SL3     B 144A
	Hartford Life and Annuity Insurance Company
	PA2
	(5,000,000
	)
	(5,000,000
	)
	 NA
	PA293364LAE8

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00286-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00286-of-00352.parquet"}]]