Document:

Exhibit 10.1

   

  EXECUTION VERSION

   

  STOCKHOLDERS AGREEMENT

   

  by and among

   

  SAFG RETIREMENT SERVICES, INC.,

   

  AMERICAN INTERNATIONAL GROUP, INC.

   

  AND

   

  ARGON HOLDCO LLC

   

  Dated as of November 2, 2021

   

  
     

    
      
 

  

  
   

  Table of Contents

   

  	
           

        	
          Page

        
	
           

        	
           

        
	
          ARTICLE I INTRODUCTORY MATTERS

        	
          1

        
	
           

        	
           

        	
           

        	
           

        	
           

        
	
           

        	
          1.1

        	
           

        	
          Defined Terms

        	
          1

        
	
           

        	
          1.2

        	
           

        	
          Interpretation

        	
          7

        
	
           

        	
           

        	
           

        	
           

        	
           

        
	
          ARTICLE II CORPORATE GOVERNANCE MATTERS

        	
          8

        
	
           

        	
           

        	
           

        	
           

        	
           

        
	
           

        	
          2.1

        	
           

        	
          Board Composition

        	
          8

        
	
           

        	
          2.2

        	
           

        	
          Compensation

        	
          10

        
	
           

        	
          2.3

        	
           

        	
          Other Rights of Stockholder Designees

        	
          10

        
	
           

        	
          2.4

        	
           

        	
          Board Meetings

        	
          11

        
	
           

        	
          2.5

        	
           

        	
          Certain Actions

        	
          11

        
	
           

        	
          2.6

        	
           

        	
          Indemnification

        	
          13

        
	
           

        	
           

        	
           

        	
           

        	
           

        
	
          ARTICLE III INFORMATION

        	
          14

        
	
           

        	
           

        	
           

        	
           

        	
           

        
	
           

        	
          3.1

        	
           

        	
          Information Rights

        	
          14

        
	
           

        	
          3.2

        	
           

        	
          Information Protection

        	
          15

        
	
           

        	
          3.3

        	
           

        	
          Corporate Opportunities

        	
          16

        
	
           

        	
           

        	
           

        	
           

        	
           

        
	
          ARTICLE IV REGISTRATION RIGHTS

        	
          17

        
	
           

        	
           

        	
           

        	
           

        	
           

        
	
           

        	
          4.1

        	
           

        	
          Demand Registrations

        	
          17

        
	
           

        	
          4.2

        	
           

        	
          Piggyback Registrations

        	
          18

        
	
           

        	
          4.3

        	
           

        	
          Registration Expenses

        	
          19

        
	
           

        	
          4.4

        	
           

        	
          Registration Procedures

        	
          20

        
	
           

        	
          4.5

        	
           

        	
          Registration Limitations

        	
          21

        
	
           

        	
          4.6

        	
           

        	
          Indemnification

        	
          22

        
	
           

        	
          4.7

        	
           

        	
          Rule 144 Reporting

        	
          24

        
	
           

        	
           

        	
           

        	
           

        	
           

        
	
          ARTICLE V EQUITY LOCK-UP

        	
          24

        
	
           

        	
           

        	
           

        	
           

        	
           

        
	
           

        	
          5.1

        	
           

        	
          Sales and Transfers

        	
          24

        
	
           

        	
          5.2

        	
           

        	
          Drag-Along Right

        	
          26

        
	
           

        	
          5.3

        	
           

        	
          Tag-Along Right

        	
          27

        
	
           

        	
           

        	
           

        	
           

        	
           

        
	
          ARTICLE VI ADDITIONAL COVENANTS

        	
          30

        
	
           

        	
           

        	
           

        	
           

        	
           

        
	
           

        	
          6.1

        	
           

        	
          Exchange Right

        	
          30

        
	
           

        	
          6.2

        	
           

        	
          Spin-Offs or Split-Offs

        	
          32

        
	
           

        	
          6.3

        	
           

        	
          Standstill

        	
          32

        
	
           

        	
          6.4

        	
           

        	
          Preemptive Rights

        	
          33

        
	
           

        	
          6.5

        	
           

        	
          Dividend Policy

        	
          34

        
	
           

        	
          6.6

        	
           

        	
          Certain Actions

        	
          34

        
	
           

        	
          6.7

        	
           

        	
          Certain Transactions

        	
          35

        

   

  
    -i-

    
      
 

  

  
   

  	
           

        	
          6.8

        	
           

        	
          Logo

        	
          35

        
	
           

        	
           

        	
           

        	
           

        	
           

        
	
          ARTICLE VII GENERAL PROVISIONS

        	
          35

        
	
           

        	
           

        	
           

        	
           

        	
           

        
	
           

        	
          7.1

        	
           

        	
          Notices

        	
          35

        
	
           

        	
          7.2

        	
           

        	
          Amendment; Waiver

        	
          37

        
	
           

        	
          7.3

        	
           

        	
          Assignment

        	
          37

        
	
           

        	
          7.4

        	
           

        	
          Third Parties

        	
          37

        
	
           

        	
          7.5

        	
           

        	
          Governing Law

        	
          37

        
	
           

        	
          7.6

        	
           

        	
          Arbitration; Jurisdiction; Waiver of Jury Trial

        	
          38

        
	
           

        	
          7.7

        	
           

        	
          Specific Performance

        	
          39

        
	
           

        	
          7.8

        	
           

        	
          Entire Agreement

        	
          39

        
	
           

        	
          7.9

        	
           

        	
          Severability

        	
          39

        
	
           

        	
          7.10

        	
           

        	
          Table of Contents, Headings and Captions

        	
          39

        
	
           

        	
          7.11

        	
           

        	
          Grant of Consent

        	
          39

        
	
           

        	
          7.12

        	
           

        	
          Counterparts

        	
          39

        
	
           

        	
          7.13

        	
           

        	
          No Recourse

        	
          40

        
	
           

        	
          7.14

        	
           

        	
          Certain Adjustments

        	
          40

        

   

  
    -ii-

    
      
 

  

   

  STOCKHOLDERS AGREEMENT

   

  This STOCKHOLDERS AGREEMENT (this “Agreement”), dated as of November 2, 2021, is by and among SAFG Retirement Services, Inc., a Delaware
    corporation (the “Company”), American International Group, Inc., a Delaware corporation (“AIG”), and Argon Holdco LLC, a Delaware limited liability company (the “Stockholder”).

   

  WHEREAS, AIG and the Stockholder entered into that certain Stock Purchase Agreement, dated as of July 14, 2021 (the “SPA”), pursuant to
    which AIG agreed to sell to the Stockholder, and the Stockholder agreed to purchase from AIG, 9,900 shares of the Company’s Class B common stock, par value $1.00 per share (the “Purchased Shares”), representing 9.9% of all of the issued and
    outstanding shares of common stock of the Company as of such date (such transaction, the “Share Purchase”), on the terms and subject to the conditions set forth in the SPA; and

   

  WHEREAS, the SPA contemplates that, in connection with the consummation of the Share Purchase, the parties hereto would enter into this Agreement.

   

  NOW, THEREFORE, in consideration of the premises and the representations, warranties and agreements herein contained and intending to be legally
    bound hereby, the parties agree as follows:

   

  ARTICLE I 

    INTRODUCTORY MATTERS

   

  1.1            Defined Terms.  In addition to the terms defined elsewhere herein, the following terms have the following meanings when used
    herein with initial capital letters:

   

  “AAA” has the meaning set forth in Section 7.6(a).

   

  “Acquirer” has the meaning set forth in Section 6.1(c).

   

  “Adjusted Book Value” means shareholder’s equity, excluding Accumulated Other Comprehensive Income and adjusted for the cumulative
    unrealized gains and losses related to Fortitude Re funds withheld assets, calculated using the same methodologies, adjustments, procedures and assumptions as the Calculation Methodologies.

   

  “Adjusted Separation Balance Sheet” means the balance sheet set forth on Section
      3.6(d)(iii) of the Seller Disclosure Schedule.

   

  “Affiliate” of any Person means another Person that directly or indirectly, through one or more intermediaries, controls, is controlled by
    or is under common control with, such first Person. For the purposes of this definition, “control,” when used with respect to any Person, means the power to direct the management and policies of such Person, directly or indirectly through the ownership
    of voting securities, by contract, or otherwise, and the terms “controlling” and “controlled” have the meanings correlative to the foregoing. For the avoidance of doubt, neither the Company nor any Company Subsidiary shall be deemed to be an
    “Affiliate” of the Stockholder. For purposes of this Agreement (other than Sections 3.2, 3.3 and 7.13), neither Blackstone nor any investment funds or investment vehicles affiliated with, or managed or advised by, Blackstone or
    its affiliates or any portfolio company (as such term is commonly understood in the private equity industry) or investment of Blackstone or of any such investment fund or investment vehicle shall be deemed to be an “Affiliate” of the Stockholder.

   

  
    
      
 

  

  
   

  “Affiliate Contract” means any material Contract between any of the Company or any Company Subsidiary, on the one hand, and AIG or any
    Subsidiary of AIG (other than the Company or any Company Subsidiary), on the other hand.

   

  “Affordable Housing Transaction” means the transactions contemplated by that certain Purchase Agreement, dated as of July 14, 2021, by and
    between AIG and Aztec Holdco LLC.

   

  “AGL” means American General Life Insurance Company.

   

  “AIG” has the meaning set forth in the Preamble.

   

  “AIG Common Stock” means the common stock, par value $2.50 per share, of AIG and, to the extent issued pursuant to Section

      6.1(b), any non-voting common stock or non-voting preferred stock of AIG.

   

  “Applicable Law” means any law, statute, ordinance, written rule or regulation, order, injunction, judgment, decree, constitution or treaty
    enacted, promulgated, issued, enforced or entered by any Governmental Entity applicable to any Person or such Person’s businesses, properties, assets or rights, as may be amended from time to time.

   

  “Beneficially Own,” “Beneficially Owned” or “Beneficial Ownership” has the meaning set forth in Rule 13d-3 of
    the rules and regulations promulgated under the Exchange Act.

   

  “Blackout Period” means (i) until a Fall-Away Event, the Company’s regularly quarterly restricted trading period during which
    directors and executive officers of the Company are not permitted to trade under the insider trading policy of the Company then in effect or (ii) a reasonable period not in excess of the applicable limits specified below in the event that the Company
    determines in good faith that any registration or sale pursuant to any registration statement would reasonably be expected to interfere with any bona fide financing of, or material transaction under consideration by, the Company, require disclosure of
    material information that has not been disclosed to the public, the premature disclosure of which would materially adversely affect the Company, or otherwise materially adversely affect the Company. Notwithstanding anything otherwise to the contrary,
    with respect to any Blackout Periods described in clause (ii) above, (A) until a Fall-Away Event, the length of any such Blackout Period shall not exceed thirty (30) days and, in any (12) month period, (x) the number of such Blackout Periods shall not
    exceed three (3) and (y) the length of all such Blackout Periods shall not exceed ninety (90) days in the aggregate, and (B) following a Fall-Away Event, the length of any such Blackout Period shall not exceed sixty (60) days and, in any (12) month
    period, (x) the number of such Blackout Periods shall not exceed three (3) and (y) the length of all such Blackout Periods shall not exceed one-hundred-and-twenty (120) days in the aggregate.

   

  “Blackstone” means Blackstone Inc.

   

  
    -2-

    
      
 

  

   

  “Blackstone Related Persons” has the meaning set forth in Section 3.2.

   

  “Board” means
      the board of directors of the Company.

   

  “Board Materials”
      has the meaning set forth in Section 2.3.

   

  “Business Day” means any day other than a Saturday, a Sunday or any other day on which banking institutions in New York, New York
    are required or authorized by Applicable Law to be closed.

   

  “Bylaws” means the Bylaws of the Company immediately following the Closing, as amended, supplemented, restated or otherwise
    modified from time to time thereafter in accordance with the terms thereof and hereof.

   

  “Calculation Methodologies” are those line-item adjustments, methodologies, procedures and assumptions set forth on Section
    1.1(d) of the Seller Disclosure Schedule.

   

  “Change of Control” means, with respect to any specified Person, the acquisition, directly or indirectly, by any other Person or
    group (within the meaning of Section 13(d) of the Exchange Act) of other Persons of more than 50% of the outstanding equity of such specified Person or all or substantially all of the consolidated assets of such specified Person and its Subsidiaries,
    taken as a whole, in each case, whether through a merger, consolidation, dissolution, liquidation, recapitalization, share exchange, business combination or similar transaction involving such specified Person, other than any such acquisition by any
    other Person or group of other Persons where more than 50% of the outstanding equity of the ultimate parent entity of such other Person or group is, immediately after such acquisition, Beneficially Owned by the equityholders of such specified Person
    immediately prior to such acquisition.

   

  “Charter” means the Certificate of Incorporation of the Company immediately following the Closing, as amended, supplemented,
    restated or otherwise modified from time to time thereafter in accordance with the terms thereof and hereof.

   

  “Closing” means
      the closing of the Share Purchase pursuant to the SPA.

   

  “Code” means the
      Internal Revenue Code of 1986.

   

  “Commitment Letter” means that certain Commitment Letter, dated November 2, 2021 (as may be amended or modified from time to time),
    among the Company, the Investment Manager and AIG.

   

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

   

  “Company Business” means the life and retirement insurance business, with such adjustments as reflected in the Separation Balance
    Sheet, as conducted by AIG and its Subsidiaries as of immediately prior to the date of the SPA.

   

  “Company Common Stock” means the Class A common stock, par value $1.00 per share, of the Company and the Class B common stock, par
    value $1.00 per share, of the Company.

   

  
    -3-

    
      
 

  

   

  “Contract” means any contract, agreement, indenture, note, bond, loan, instrument, license or other enforceable arrangement or
    agreement.

   

  “Demand Registrations” has the meaning set forth in Section
        4.1(a).

   

  “Director” means any member of the Board.

   

  “Drag-Along Acquirer”
      has the meaning set forth in Section 5.2(a).

   

  “Drag-Along Notice”
      has the meaning set forth in Section 5.2(a).

   

  “Drag-Along Sale” has
      the meaning set forth in Section 5.2(a).

   

  “Exchange Act” means
      the Securities Exchange Act of 1934.

   

  “Exchange Consideration” equals (i) the Exchange Value divided by (ii) the VWAP as of the date of the exchange.

   

  “Exchange Right” has
      the meaning set forth in Section 6.1(b).

   

  “Exchange Shares” has
      the meaning set forth in Section 6.1(b).

   

  “Exchange Value” equals (i) a number equal to a fraction, expressed as a percentage, the numerator of which is the aggregate number of
    Exchange Shares being exchanged at such time and the denominator of which is the aggregate number of shares of Company Common Stock issued and outstanding as of the date on which any notice of exchange has been made multiplied by (ii) 1.1x Adjusted
    Book Value of the Company as of the month-end prior to the date on which any such exchange notice has been made, calculated in a manner consistent with the Adjusted Separation Balance Sheet.

   

  “Fall-Away Event” means the first date on or after the date hereof on which the Stockholder ceases to hold 50% or more of the
    Company Common Stock held by the Stockholder as of the Closing (excluding shares of Company Common Stock repurchased by the Company from the Stockholder for the purposes of ensuring that the Stockholder holds less than 9.9% of the outstanding Company
    Common Stock).

   

  “Governmental Entity” means any domestic or foreign court, tribunal, commission or governmental authority, instrumentality (including any
    legislature, commission, regulatory or administrative agency, governmental branch, bureau or department) or agency or any self-regulatory body.

   

  “Identified Persons”
      has the meaning set forth in Section 3.3(a).

   

  “Indemnified Party”
      has the meaning set forth in Section 4.6(c).

   

  “Indemnifying Party” has the meaning set forth in Section 4.6(c).

   

  “Independent Director” means a Director who qualifies as an independent director within the meaning of Section 303A of the New York
    Stock Exchange Listed Company Manual (or, if the Company Common Stock has a primary listing on a stock exchange that is not the New York Stock Exchange, the rules and listing standards of such stock exchange).

   

  
    -4-

    
      
 

  

   

  “Information” has the meaning set forth in Section
        3.1.

   

  “Insurance Company” means any Subsidiary of the Company that is required to be licensed as an insurer or reinsurer.

   

  “Investment Manager” means Blackstone ISG-I Advisors L.L.C., a Delaware limited liability company.

   

  “IPO” means the consummation of an initial public offering of shares of Company Common Stock in connection with which such
    shares of Company Common Stock become listed on the New York Stock Exchange or the Nasdaq Stock Market, whether pursuant to an initial underwritten public offering of Company Common Stock that is registered under the Securities Act or a distribution of
    Company Common Stock by AIG to existing equityholders that would result in securities of the Company being registered under the Exchange Act.

   

  “Long-Form Registrations”
      has the meaning set forth in Section 4.1(a).

   

  “Master SMA Agreements” means those certain Master SMA Agreements set forth on Exhibit A of the Commitment Letter (as such agreements may
    be amended or modified from time to time) between, on the one hand, AGL, and certain current or future life insurance company Subsidiaries and/or Affiliates (each, as defined in the Commitment Letter) of AGL that are or may become (including, without
    limitation, pursuant to Section 6(d) of the Commitment Letter) party to such Master SMA Agreements, and, on the other hand, the Investment Manager.

   

  “New Securities” has the meaning set forth in Section 6.4(a).

   

  “NewCo” has the meaning set forth in Section 6.2.

   

  “Non-Employee Directors”
      has the meaning set forth in Section 3.3(a).

   

  “Observer” has the meaning set forth in Section 2.1(f).

   

  “Person” means an individual, corporation, partnership, joint venture, limited liability company, association, trust,
    unincorporated organization, Governmental Entity or other entity.

   

  “Piggyback Registration”
      has the meaning set forth in Section 4.2(a).

   

  “Preemptive Rights Election Period” has the meaning set forth in Section 6.4(c).

   

  “Preemptive Rights Exercise Notice” has the meaning set forth in Section 6.4(c).

   

  “Preemptive Rights Notice” has the meaning set forth in Section 6.4(b).

   

  “Preemptive Rights Portion” has the meaning set forth in Section 6.4(a).

   

  “Prospective Subscriber” has the meaning set forth in Section 6.4(a).

   

  
    -5-

    
      
 

  

   

  “Purchased Shares”
      has the meaning set forth in the Recitals.

   

  “Registrable Securities” means (a) the Company Common Stock held by the Stockholder and (b) any other securities
    issued in respect of the securities described in clause (a) of this definition, including by way of a dividend, distribution or equity split or in connection with an exchange or a combination of shares, recapitalization, or reclassification. As
    to any particular Registrable Securities, such securities shall cease to be Registrable Securities at the earliest date when they (i) have been distributed to the public pursuant to an offering registered under the Securities Act, (ii) have been sold
    to the public in compliance with Rule 144 (or any similar or successor rule then in force) or (iii) have been repurchased by the Company or any Subsidiary.

   

  “Registration Expenses” has the meaning set
        forth in Section 4.3.

   

  “Restriction Period” means the period commencing on the date following an IPO and ending on the fifth anniversary of the
    closing of the IPO.

   

  “SEC” means the
      U.S. Securities and Exchange Commission or any successor agency.

   

  “Securities Act” means the Securities Act of 1933.

   

  “Sell” means, with respect to Company Common Stock (including the Purchased Shares) or AIG Common Stock, as applicable, to,
    directly or indirectly, (i) sell, pledge, offer to sell or pledge, contract to sell or pledge, sell or grant any option, right or warrant to purchase, purchase or acquire any option to sell, or otherwise dispose or transfer any such securities or any
    securities convertible into or exchangeable or exercisable for such securities or (ii) enter into any swap, derivative or any other similar agreement or any similar transaction that transfers, in whole or in part, directly or indirectly, the economic
    consequence of ownership of such securities, whether any such swap, derivative or other similar transaction is to be settled by delivery of such securities or other securities, in cash or otherwise.  “Sale” has the meaning correlative to the foregoing.

   

  “Seller Disclosure Schedule” means the disclosure schedule (including any attachments thereto) delivered by AIG to the
    Stockholder in connection with, and constituting a part of, the SPA.

   

  “Separation” has the meaning set forth in the Separation Principles.

   

  “Separation Balance Sheet” means the balance sheet set forth on Section 3.6(d)(ii) of the Seller Disclosure Schedule.

   

  “Separation Documentation” means the separation agreement and other customary agreements for a separation on terms consistent
    with the Separation Principles.

   

  “Separation Principles” means the separation principles set forth in Section 5.9 of the Seller Disclosure Schedule.

   

  “Share Purchase” has the meaning set forth in the Recitals.

   

  
    -6-

    
      
 

  

   

  “Shelf Registration” has the meaning set forth in Section 4.1(a).

   

  “Shelf Take-down” has the meaning set forth in Section 4.1(b).

   

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

   

  “Stockholder”
      has the meaning set forth in the Preamble.

   

  “Stockholder Designee” has the meaning set forth in Section 2.1(c).

   

  “Stockholder Representatives” has the meaning set forth in Section 3.1.

   

  “Subsidiary” of any Person at the time in question means another Person more than 50% of the total combined voting power of all
    classes of capital stock or other voting interests of which, or more than 50% of the equity securities of which, is at such time owned directly or indirectly by such first Person.

   

  “Tag-Along Acquirer”
      has the meaning set forth in Section 5.3(a).

   

  “Tag-Along Exercise Notice” has the meaning set forth in Section 5.3(a).

   

  “Tag-Along Notice” has
      the meaning set forth in Section 5.3(a).

   

  “Tag-Along Sale” has
      the meaning set forth in Section 5.3(a).

   

  “VWAP” means, as of a particular date, the average of the volume weighted averages of the trading prices of shares of common stock of AIG
    or Acquirer, as applicable, on the New York Stock Exchange (or a comparable national stock exchange in the United States, such as the Nasdaq Stock Market) (as reported by Bloomberg L.P. or, if such information is no longer available from Bloomberg
    L.P., as available from a comparable internationally recognized source determined by AIG or Acquirer, on the one hand, and the Stockholder, on the other hand, each acting reasonably), on each of the twenty (20) most recent consecutive trading days on
    which such shares of common stock are traded on the New York Stock Exchange (or a comparable national stock exchange in the United States, such as the Nasdaq Stock Market) (each such day, a “trading day”) ending on (and including) the trading
    day that is the trading day immediately prior to such date.

   

  1.2            Interpretation. When reference is made in this Agreement to an Article or a Section, such reference shall be to an Article
    or a Section of this Agreement unless otherwise indicated. All references herein to any agreement, instrument, statute, rule or regulation are to the agreement, instrument, statute, rule or regulation as amended, modified, supplemented or replaced from
    time to time (and, in the case of statutes, include any rules and regulations promulgated under said statutes) and to any section of any statute, rule or regulation including any successor to said section. The table of contents and headings contained
    in this Agreement are for reference purposes only and shall not affect in any way the meaning or interpretation of this Agreement. Whenever the words “include,” “includes” or “including” are used in this Agreement, they shall be deemed to be followed
    by the words “without limitation.” Whenever the words “hereof,” “hereto,” “hereby,” “herein” and “hereunder” and words of similar import are used in this Agreement, they shall be deemed to refer to this Agreement as a whole and not to any particular
    provision of this Agreement. Whenever the word “or” is used in this Agreement, it shall not be exclusive. Whenever the word “extent” in the phrase “to the extent” is used in this Agreement, it shall be deemed to mean the degree to which a subject or
    other thing extends and shall not mean simply “if.” Whenever the singular is used herein, the same shall include the plural, and whenever the plural is used herein, the same shall include the singular, where appropriate. 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. This Agreement has been fully negotiated by both parties and shall not be
    construed by any Governmental Entity against either party by virtue of the fact that such party was the drafting party.

   

  
    -7-

    
      
 

  

   

  ARTICLE II

    CORPORATE GOVERNANCE MATTERS

   

  2.1            Board Composition.

   

  (a)            Board Size. From and after the Closing until the occurrence of a Fall-Away Event, the Board shall at all times have 11
    members, subject to the death or unanticipated resignation of a member of the Board (which member shall be replaced as promptly as practicable).

   

  (b)            Independent Directors.  Prior to the termination of the Commitment Letter, the Company agrees that, from and after
    the fifth anniversary of the Closing Date (as defined in the SPA), the Board shall have at least three Independent Directors.

   

  (c)             Stockholder Designee. AIG and the Company
    shall take such actions so that, as of the Closing, Jonathan Gray, President and Chief Operating Officer of Blackstone, is appointed as a member of the Board as the person designated by the Stockholder.  Thereafter, and until the occurrence of a
    Fall-Away Event, at any election of directors of the Company, the Stockholder shall be entitled to designate one person for nomination for election to the Board, and the Board or any committee of the Board, as applicable, shall nominate for election
    such designee, with the identity of such designee subject to approval of the Company (not to be unreasonably withheld), but only if the election of such person to the Board would be necessary so that there be one person on the Board designated by the
    Stockholder, and subject, in all cases, to Applicable Law (including any eligibility and independence requirements under the Exchange Act or the applicable stock exchange rules and federal securities laws and regulations); provided that in no
    event shall the Stockholder have a right to designate a number of persons for nomination for election representing more than 9.9% of the whole Board.  Each such person whom the Stockholder shall designate pursuant to this Section 2.1(c) and who
    is thereafter elected to the Board to serve as a Director shall be referred to herein as a “Stockholder Designee.” AIG agrees that, at all times when the Stockholder is entitled to designate a Stockholder Designee pursuant to this Section
      2.1(c), AIG shall not vote, or execute a written consent in lieu thereof with respect to, shares of Company Common Stock in favor of any proposal to remove (with or without cause) the Stockholder Designee. The Company agrees, to the fullest
    extent permitted by Applicable Law (including with respect to any fiduciary duties under Delaware law), at all times when the Stockholder is entitled to designate a Stockholder Designee pursuant to this Section 2.1(c), to include in the slate
    of nominees recommended by the Board for election at any meeting of stockholders called for the purpose of electing Directors, the Stockholder Designee, to nominate and recommend such individual to be elected as a Director as provided herein and
    include such recommendation in the proxy statement (or consent solicitation or similar document) of the Company relating to the election of Directors and to solicit proxies or consents in favor thereof to the same extent, and in a manner no less
    favorable, as the Company solicits proxies or consents in favor of the other nominees of the Board. AIG hereby agrees with the Company that, at all times when the Stockholder is entitled to designate a Stockholder Designee pursuant to this Section
      2.1(c), AIG shall vote, or execute a written consent in lieu thereof with respect to, all of the Company Common Stock then Beneficially Owned by it, or cause all of the Company Common Stock then Beneficially Owned by it, to be voted, or cause a
    written consent in lieu thereof to be executed, to elect the Stockholder Designee for election at any meeting of stockholders called for the purpose of electing Directors.  The Stockholder hereby agrees with the Company, severally and not jointly,
    that, at all times when the Stockholder is entitled to designate a Stockholder Designee pursuant to this Section 2.1(c), the Stockholder shall vote, or execute a written consent in lieu thereof with respect to, all of the Company Common Stock
    then Beneficially Owned by it, or cause all of the Company Common Stock then Beneficially Owned by it, to be voted, or cause a written consent in lieu thereof to be executed, to elect the slate of nominees recommended by the Board for election at any
    meeting of stockholders called for the purpose of electing Directors.

   

  
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  (d)            Committees.  At all times when the Stockholder is entitled to designate a Stockholder Designee pursuant to Section

      2.1(c), (i) to the extent permitted by Applicable Law (including any eligibility requirements under the Exchange Act or the applicable stock exchange rules and federal securities laws and regulations), the Stockholder Designee shall be entitled
    to serve on each committee of the Board and (ii) the committees of the Board shall include an audit committee.

   

  (e)             Vacancy.  In the event that a vacancy is created at any time by the death, retirement,
    disability, removal or resignation of the Stockholder Designee, the remaining Directors and the Company shall, to the extent permitted by Applicable Law (including with respect to any fiduciary duties under Delaware law), cause the vacancy created
    thereby to be filled by a new Stockholder Designee. In the event that any person designated by the Stockholder shall fail to be elected to the Board at any meeting of stockholders called for the purpose of electing directors (or consent in lieu of
    meeting), the Company shall use its reasonable best efforts to cause such person (or alternative person selected by the Stockholder) to be elected to the Board as soon as practicable thereafter.

   

  (f)             Board Observer.  At all times when the Stockholder is entitled to designate a Stockholder
    Designee pursuant to Section 2.1(c), if the Board at any time consists of fewer than eleven (11) members, the Stockholder Designee shall automatically cease to be a Director and instead become a board observer (an “Observer”); provided
    that, if the Board subsequently consists of eleven (11) or more members, the Board shall, as soon as reasonably practicable thereafter, take actions to cause such Observer to become a Director. The Observer shall (i) have the right to receive notice of
    and to attend and participate in (but not vote on any matters on which the Directors are entitled to vote) meetings of the Board and any committee of the Board, (ii) have the right to receive Board Materials to the same extent that, and in the same
    manner as, the Stockholder Designee would be entitled to receive pursuant to Section 2.3 if he or she were continuing to serve on the Board and the same committees of the Board on which he or she was serving immediately prior to becoming an
    Observer, subject to all the limitations and obligations set forth therein, including such customary confidentiality obligations as apply to members of the Board generally, and (iii) have the right to reimbursement of expenses to the same extent that
    the Stockholder Designee would be entitled to receive such reimbursement pursuant to Section 2.2 if he or she were continuing to serve on the Board and the same committees of the Board on which he or she was serving immediately prior to
    becoming an Observer, subject to the limitations set forth therein.  The Observer shall have no right to vote on any matter presented to the Board or committee of the Board.

   

  
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  (g)             Resignation. From and after a Fall-Away Event, upon receipt of a written request from the
    Company to the Stockholder Designee or the Stockholder, the Stockholder Designee shall (and the Stockholder shall use reasonable best efforts to take such actions to cause the Stockholder Designee to) immediately tender his or her resignation as a
    Director, or, if requested, the Stockholder agrees to vote its Company Common Stock to remove such Stockholder Designee from the Board.

   

  (h)            Chief Executive Officer Designee.  AIG and the Company shall take such actions so
    that, as of the Closing, the then-serving Chief Executive Officer of the Company shall be appointed as a member of the Board.  Thereafter, the Company hereby agrees that, at any election of directors of the Company prior to the Fall-Away Event, the
    then-serving Chief Executive Officer of the Company shall be nominated for election to the Board.

   

  2.2            Compensation.  The Stockholder Designee shall not be entitled to compensation for service as a member of the Board
    (including any fees and equity awards), except for reimbursement of expenses for service as a member of the Board to the extent that such reimbursement is provided to any other member of the Board.

   

  2.3            Other Rights of Stockholder Designees.  The Stockholder Designee serving on the Board shall be entitled to receive due and
    timely notice of and to attend and participate in all meetings of the Board and committees of the Board, at the same time and in the same manner as the other Directors are entitled to receive, attend or participate in such meetings in their capacities
    as Directors.   The Stockholder Designee serving on the Board shall be entitled to receive, at the same time and in the same manner as other Directors are entitled to receive in their capacities as Directors, any and all resolutions relating to action
    taken by the Board or committees of the Board by written consent and any other information and materials provided to members of the Board or committees of the Board, including any updates regarding the Separation that are provided to the Board or any
    committees of the Board (collectively, the “Board Materials”), in each case (i) subject to such customary confidentiality obligations as apply to members of the Board generally and (ii) except (A) as prohibited by Applicable Law or (B) to the
    extent that the Company determines in good faith, after consulting with legal counsel, that including the Stockholder Designee in a meeting of the Board or committee of the Board (or portion thereof) or providing or disclosing Board Materials to the
    Stockholder Designee would reasonably be expected to prevent the Company from asserting attorney-client privilege (to the extent that that such attorney-client privilege is not governed by a common interest privilege or doctrine) with respect to
    matters discussed at such meeting or disclosed in such Board Materials; provided that such Board Materials will be provided to the Stockholder Designee with redactions or other customary limitations, in each case, to the extent feasible to do
    so in a manner that would avoid the effect set forth in this clause (B). In the event that the Stockholder Designee is excluded from any portion of any meeting of the Board or any committee of the Board or is precluded from receipt of any Board
    Materials pursuant to this Section 2.3, the Stockholder Designee shall be informed of such exclusion or preclusion in writing.

   

  
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  2.4          Board Meetings.  The Board and committees of the Board shall meet in accordance with the Bylaws; provided that the
    Board and committees of the Board shall meet at least quarterly.

   

  2.5          Certain Actions.  (a) From and after the Closing until the occurrence of a Fall- Away Event, the Company will not, and will
    cause the Company Subsidiaries and the Company Business not to, without the prior written consent of the Stockholder:

   

  (i)              amend the organizational documents of (A) the Company or (B) the Company Subsidiaries that are material to the Company Business, in
    either case so as to include provisions that would disproportionately adversely affect the Stockholder in any material respect relative to AIG, in each case in their capacities as holders of Company Common Stock, after taking into account differences
    in their respective ownership levels (for example, rights that are typically provided by a company to a parent company that consolidates a company);

   

  (ii)             effect a voluntary liquidation, dissolution or winding up of the Company;

   

  (iii)            repurchase shares of Company Common Stock, if such repurchase would result in the Stockholder owning, of record, more than 9.9% of the
    then-outstanding Company Common Stock;

   

  (iv)            other than (x) with respect to the Separation Documentation (which shall be governed by the terms of the Separation Principles), (y) any
    modification, amendment or termination of, or entry into, any Affiliate Contract that is on arm’s length terms, fair and reasonable to the Company Business in all material respects or in the ordinary course of business consistent with historical
    practice, or (z) any modification, amendment or termination of, or entry into, any Affiliate Contracts in connection with the Separation in accordance with the Separation Documentation, (A) modify, amend (in any material respect) or terminate (other
    than, as a result of the expiration of the term thereof) any Affiliate Contract, or waive, release or assign any material rights or claims thereunder or (B) enter into any Affiliate Contract, in each of cases (A) and (B), on terms that are adverse in
    any material respect to the Stockholder; provided that the consent of the Stockholder in respect of this Section 2.5(a)(iv) shall not be unreasonably withheld, delayed or conditioned;

   

  (v)             following an IPO, effect a voluntary deregistration of the Company Common Stock under the Exchange Act or delisting of the Company Common
    Stock with any applicable national securities exchange; or

   

  
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  (vi)            agree to take any of the foregoing actions; provided that the consent of the Stockholder in respect of this Section 2.5(a)(vi)
    as it relates to Section 2.5(a)(iv) shall not be unreasonably withheld, delayed or conditioned.

   

  (b)          From and after the Closing until the earlier of the closing of the IPO and the occurrence of a Fall-Away Event, the Company will not,
    and will cause the Company Subsidiaries and the Company Business not to, without the prior written consent of the Stockholder:

   

  (i)              declare, set a record date or set aside or pay any dividends or distributions (whether in cash, stock or property) on, or effect any
    redemption, repurchase or other acquisition in respect of, shares of Company Common Stock that are not declared, paid or effected, or otherwise transfer or make payments in respect of the equity interests in the Company that are not made, on a pro rata
    basis with respect to all holders of shares of Company Common Stock; provided that, in connection with the Separation, the Company shall be permitted to set a record date, set aside or pay any dividend or distribution, or otherwise transfer or
    make payments in respect of the equity interests in the Company, to AIG and/or any of its Subsidiaries on a non-pro rata basis (such that the Stockholder and its Affiliates will not be entitled to receive such dividend, distribution or payment) in
    respect of the Affordable Housing Transaction (it being agreed that the aggregate impact of any such dividend, distribution or payment shall be determined in accordance with the Calculation Methodologies and reflected in full in the calculation of each
    of the Interim Adjusted Book Value (as defined in the SPA) and Final Adjusted Book Value (as defined in the SPA));

   

  (ii)             effect any split, combine or reclassify any of the Company’s outstanding capital stock or equity securities or issue or authorize the
    issuance of any other stock or securities (including any derivatives securities) in respect of, in lieu of or in substitution for shares or other interests representing any of the Company’s outstanding capital stock or equity securities, in each case,
    that is not on a proportionate basis with respect to all holders thereof;

   

  (iii)            other than with respect to any Insurance Company, incur, assume, guarantee, refinance, be allocated or become obligated with respect to
    any third-party indebtedness (including by issuance of debt securities of the Company or any Company Subsidiary, but excluding any intercompany indebtedness or payables owed to AIG or any of its Subsidiaries to the extent permitted by Section
      2.5(b)(iv)) in excess of, in each case outstanding at any one time, (x) ten billion U.S. dollars ($10,000,000,000) of new third-party indebtedness issued by the Company and the Company Subsidiaries in a total aggregate principal amount on a
    consolidated basis (excluding guaranteed investment contracts, FHLB short-term financings and other ordinary course operating indebtedness, in each case, incurred in the ordinary course of business consistent with past practice) plus (y) two
    billion U.S. dollars ($2,000,000,000) of third-party indebtedness issued by the Company and the Company Subsidiaries under a customary revolving credit facility on market terms; provided that the consent of the Stockholder in respect of this Section

      2.5(b)(iii) shall not be unreasonably withheld, delayed or conditioned;

   

  
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  (iv)           other than (x) repayments of intercompany indebtedness and payables to AIG or its Subsidiaries in the ordinary course of business
    consistent with past practice (which repayments are not subject to limitation) and (y) the incurrence of ordinary course intercompany indebtedness consistent with historical practice, on terms (including with respect to interest rates) consistent with
    historical practice with respect to existing ordinary course intercompany indebtedness), (A) repay, forgive or otherwise cancel any indebtedness or payables between the Company or the Company Subsidiaries, on the one hand, and AIG or its Subsidiaries
    (other than the Company and the Company Subsidiaries), on the other hand, (B) loan any amounts to AIG or its Subsidiaries (other than the Company and the wholly owned Company Subsidiaries) or (C) incur any indebtedness to AIG or its Subsidiaries (other
    than the Company and the wholly owned Company Subsidiaries); provided that, in connection with the Separation, the Company and the Company Subsidiaries shall be permitted to incur (including through the creation or distribution of one or more
    intercompany notes to AIG and/or its Subsidiaries) and, from the proceeds of the third-party indebtedness set forth in subclause (x) of Section 2.5(b)(iii), repay up to an aggregate of eight billion three hundred million U.S. dollars
    ($8,300,000,000) of intercompany indebtedness and/or payables (on terms (including with respect to interest rates) and conditions consistent with historical practice with respect to existing intercompany indebtedness or payables, as applicable) between
    the Company or the Company Subsidiaries, on the one hand, and AIG or its Subsidiaries (other than the Company and its Subsidiaries), on the other hand; provided, further, that the amount of such repayment shall be reflected in full in
    the calculation of Final Adjusted Book Value; provided, further, that any portion of intercompany indebtedness (including any portion of the eight billion three hundred million U.S. dollars ($8,300,000,000) of intercompany indebtedness)
    and/or payables that is incurred but not so repaid shall (1) remain outstanding unless forgiven or otherwise cancelled by AIG in its discretion and (2) be reflected in full in the calculation of Final Adjusted Book Value;

   

  (v)            enter into any new material line of business that would subject the Stockholder or its Affiliates to obligations under the Bank Holding
    Company Act or any other Applicable Law that governs banking or similar entities; or

   

  (vi)           agree to take any of the foregoing actions; provided that the consent of the Stockholder in respect of this Section 2.5(b)(vi),
    insofar as it relates to Section 2.5(b)(iii) shall not be unreasonably withheld, delayed or conditioned.

   

  2.6          Indemnification.  The Stockholder Designee shall be entitled to indemnification and exculpation from the Company, and to be
    insured under the director and officer insurance policy of the Company, to the same extent as other members of the Board (in their capacities as Directors) pursuant to the Company’s Charter and Bylaws; provided, that the Company hereby agrees
    that notwithstanding anything to the contrary in Section 15.11 of the Bylaws, (i) any failure of the Stockholder Designee to provide notice as so required by Section 15.11 of the Bylaws shall not relieve the Company of its obligations under Article XV
    of the Bylaws unless, and to the extent that, such failure actually prejudices the interests of the Company and (ii) in connection with the Stockholder Designee’s indemnification and reimbursement of expenses pursuant to Section 15.11 of the Bylaws,
    such Stockholder Designee shall be required to include detailed invoices and other relevant documentation only to the extent such documentation is available to the Stockholder Designee.

   

  
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  ARTICLE III 

    INFORMATION

   

  3.1          Information Rights.  From and after the Closing until the occurrence of a Fall- Away Event, the Company shall, and shall cause
    the Company Subsidiaries to, on an ongoing and confidential basis, provide the Stockholder with such information regarding the financial results and business of Company, including with respect to information required for regulatory or compliance
    purposes, as is reasonably requested by the Stockholder. In addition, prior to the IPO, the Company shall, and shall cause its Subsidiaries to, provide the Stockholder (on behalf of Blackstone), (a) within 75 days after the end of each fiscal quarter,
    with consolidated financial statements of the Company (including balance sheet, income statement and statement of cash flows) and (b) at the same time and in the same manner as the Directors, with Board Materials, and the Company hereby acknowledges
    and agrees that Blackstone shall be entitled to use and rely on the information furnished to the Stockholder (on behalf of Blackstone) pursuant to this sentence in the preparation of the audited consolidated financial statements and unaudited interim
    consolidated financial statements of Blackstone (including the notes thereto, if any, and the qualitative narrative disclosures in such reports filed with the SEC related to the foregoing) filed in each report required to be filed by Blackstone
    pursuant to the Exchange Act with the SEC.  Notwithstanding the foregoing, the Company shall not be required pursuant to this Section 3.1 to provide or disclose any information (i) where the provision or disclosure would be prohibited under
    Applicable Law or (ii) to the extent that the Company determines in good faith, after consulting with legal counsel, that (x) providing or disclosing such information would reasonably be expected to (1) breach a contractual obligation of
    confidentiality owed by the Company to a third party or the fiduciary obligations of Directors (2) prevent the Company from asserting any attorney-client privilege (to the extent that that such attorney-client privilege concerns are not governed by a
    common interest privilege or doctrine) with respect to matters to be provided or disclosed in Board Materials or (y) withholding such information is necessary as a result of an actual or reasonably likely conflict of interest between the Company and
    the Company Subsidiaries, on the one hand, and the Stockholder and its Affiliates, on the other hand; provided that the Company shall use reasonable efforts to provide or disclose such information with redactions or other customary limitations,
    in each case, to the extent feasible to do so in a manner that would avoid the effect set forth in the this clause (ii). All such nonpublic, proprietary or other confidential information relating to the Company, the Company Subsidiaries, the Company
    Business, the Separation or the IPO so furnished pursuant to this Section 3.1 shall be referred to herein as the “Information”; provided that “Information” shall not include information that (A) was or becomes generally available
    to the public other than as a result of a disclosure by the Stockholder, any Stockholder Representative or any Stockholder Designee in violation of this Section 3.1, (B) was or becomes available to the Stockholder or its Affiliates or its or
    their respective directors, officers, other employees, partners, members, managers, professional representatives (including legal counsel, accountants, tax advisors, consultants and financial advisors of such Person) or agents (such Persons, other than
    the Stockholder and the Company or its Subsidiaries, the “Stockholder Representatives”) on a nonconfidential basis prior to disclosure to the Stockholder, any Stockholder Representative or any Stockholder Designee by the Company or its
    Affiliates or a Person acting on behalf of the foregoing, (C) was or becomes available to the Stockholder, any Stockholder Representative or any Stockholder Designee from a source other than the Company or its Affiliates or a Person acting on behalf of
    the foregoing; provided that such source is not known by the Stockholder or any such Stockholder Representative to be bound by an obligation of confidentiality with the Company or any of its Subsidiaries, or (D) is independently developed by
    the Stockholder or any Stockholder Representative without the use of or reference to any Information. Subject to Section 3.2, the Stockholder shall, and shall direct the Stockholder Representatives (with the Stockholder liable hereunder for any
    Stockholder Representative’s failure to comply with such direction, subject to any joinder or other agreements to which such Stockholder Representatives are party with or for the benefit of the Company) to, (1) maintain in accordance with this Section

      3.1 the confidentiality of such Information received by it from the Company or any of its Affiliates, (2) not disclose or reveal any such information to any Person, other than to Stockholder Representatives, in each case only to the extent the
    Stockholder determines in good faith that such Stockholder Representative needs to know such information for the purpose of (I) evaluating, monitoring or taking any other action with respect to the investment by the Stockholder in the Company, (II)
    ensuring compliance with the terms of, enforcing, defending or understanding any right or obligation in respect of this Agreement, the Charter, the Bylaws, the Master SMA Agreements, the Commitment Letter and any other agreement with respect to the
    investment by the Stockholder in the Company and (3) not use such information other than for the purposes described in the foregoing clause (2); provided that, notwithstanding the foregoing or anything to the contrary set forth in this Section

      3.1, Information may be disclosed or revealed (v) by Blackstone, to the extent required by Applicable Law or applicable accounting principles (including accounting principles generally accepted in the United States of America) as then in effect,
    including any interpretations thereof, in the audited consolidated financial statements and unaudited interim consolidated financial statements of Blackstone (including the notes thereto, if any, and the qualitative narrative disclosures in such
    reports filed with the SEC related to the foregoing); (w) by Blackstone, the Stockholder or the Stockholder Representatives to the extent that the Company consents thereto in writing; (x) by the Stockholder to a Governmental Entity to the extent
    required by Applicable Law or as requested by a Governmental Entity in connection with routine examinations or oversight by such Governmental Entity; provided that any such examination or oversight is not targeted at AIG, the Company, the
    Company Subsidiaries, the Company Business, the Separation, the IPO, the Information or this Agreement; (y) by the Stockholder and the Stockholder Representatives to the extent that the Stockholder or the Stockholder Representatives are legally
    compelled to do so or are required to do so to comply with Applicable Law or legal process or Governmental Entity request or for any legally required tax or accounting purposes; provided that, prior to making such disclosure permitted pursuant
    to this clause (y), the Stockholder or the Stockholder Representative, as applicable, shall, to the extent legally permissible, give written notice to the Company describing in reasonable detail the proposed content of such disclosure to the extent
    related to the Information, and shall allow the Company, at its sole cost and expense, to seek a protective order to prevent the required disclosure; provided further that, in the absence of such protective order, or if the Company
    otherwise waives the confidentiality requirements set forth in this Section 3.1 in connection with such requirement, the Stockholder or the Stockholder Representative shall disclose only that portion of the Information that is legally compelled
    to be disclosed (it being understood that the proviso in this clause (y) shall not apply to any disclosure by Blackstone pursuant to the foregoing clause (v)); and (z) by the Stockholder and the Stockholder Representatives to any prospective transferee
    permitted pursuant to the terms of this Agreement (subject to Article V) as part of customary “due diligence” reviews; provided that (1) such prospective transferee agrees to be bound by a customary confidentiality agreement or similar
    written obligation for the benefit of the Company and (2) this clause (z) shall not permit the disclosure of Board Materials without the prior written consent of the Company.

   

  
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  3.2            Information Protection.  Nothing in this Agreement shall require the Stockholder to (i) provide to any Person, including any
    Governmental Entity (including in connection with any application, filing or notification by AIG, the Company or Stockholder) (A) nonpublic or other financial or sensitive personally identifiable information of Blackstone, its Affiliates and their
    respective directors, officers, employees, managers or partners, or its or their control persons or direct or indirect equityholders and their respective directors, officers, employees, managers or partners (collectively with Blackstone, the “Blackstone

      Related Persons”) or (B) any other nonpublic, proprietary or other confidential information of a Blackstone Related Person that exceeds the scope of information that such Blackstone Related Person has historically provided to a Governmental
    Entity in connection with a similar governmental application, filing or notification, or (ii) disclose to any Person, including any Governmental Entity (including in connection with any application, filing or notification by AIG, the Company or
    Stockholder), the identities of direct or indirect limited partners, stockholders, members or beneficiaries of Blackstone or any of its Affiliates, in each of cases (i) or (ii), (x) unless the failure to provide or disclose such information to a
    Governmental Entity that has requested or requires such information would reasonably be expected to impede the consummation of the Separation or the IPO, in which case the Stockholder shall be required to provide or disclose such information to the
    applicable Governmental Entity and (y) except for National Association of Insurance Commissioners biographical information (or substantially similar biographical information requirements of foreign regulatory bodies). Without limiting the foregoing, in
    the event that Stockholder is required to provide or disclose any such information pursuant to this Section 3.2, the Stockholder (A) shall be entitled to enter into good-faith discussions with the applicable Governmental Entity and use
    reasonable best efforts to seek to promptly resolve any requests by or requirements of such Governmental Entity for such information prior to providing such information and (B) may provide any such sensitive or confidential information directly to the
    applicable Governmental Entity requesting such information without providing or disclosing such information to AIG or the Company to the extent permitted by the applicable Governmental Entity.  All appearances, submissions, presentations, briefs, and
    proposals made or submitted by or on behalf of the Blackstone Related Persons before any Governmental Entity shall be controlled by the Stockholder.

   

  
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  3.3            Corporate Opportunities.

   

  (a)            In recognition and anticipation of the fact that (i) certain directors, principals, officers, employees and/or other
    representatives of the Stockholder and its Affiliates may serve as a director of the Company, (ii) the Stockholder and its Affiliates may now engage and may continue to engage in the same or similar activities or related lines of business as those in
    which the Company, directly or indirectly, may engage and/or other business activities that overlap with or compete with those in which the Company, directly or indirectly, may engage or proposes to engage, and (iii) members of the Board who are not
    employees of the Company or the Company Subsidiaries (“Non-Employee Directors”) and their respective Affiliates may now engage and may continue to engage in the same or similar activities or related lines of business as those in which the
    Company, directly or indirectly, may engage and/or other business activities that overlap with or compete with those in which the Company, directly or indirectly, may engage or proposes to engage, the provisions of this Section 3.3 are set
    forth to regulate and define the conduct of certain affairs of the Company with respect to certain classes or categories of business opportunities as they may involve the Stockholder, the Non-Employee Directors or their respective Affiliates, as
    applicable, and the powers, rights, duties and liabilities of the Company and its directors and stockholders in connection therewith.  The Company hereby agrees that none of (A) the Stockholder or any of its Affiliates, (B) AIG or any of its Affiliates
    or (C) the Non-Employee Directors or his or her Affiliates (the Persons identified in clauses (A), (B) and (C) above being referred to, collectively, as “Identified Persons” and, individually, as an “Identified Person”) shall, to the
    fullest extent permitted by (but otherwise subject to) Applicable Law, have any duty to refrain from, directly or indirectly, (1) engaging in the same or similar business activities or lines of business in which the Company or any of its Affiliates now
    engages or proposes to engage or (2) otherwise competing with the Company or any of its Affiliates, and, to the fullest extent permitted by law, no Identified Person shall be liable to the Company or its stockholders or to any Affiliate of the Company
    for breach of any fiduciary duty solely by reason of the fact that such Identified Person engages in any such activities.  To the fullest extent permitted by law, the Company hereby renounces any interest or expectancy in, or right to be offered an
    opportunity to participate in, any business opportunity that may be a corporate opportunity for an Identified Person and the Company or any of its Affiliates, except as provided in Section 3.3(b). Subject to Section 3.3(b), in the event
    that any Identified Person acquires knowledge of a potential transaction or other business opportunity that may be a corporate opportunity for itself, herself or himself and the Company or any of its Affiliates, such Identified Person shall, to the
    fullest extent permitted by law, have no duty to communicate or offer such transaction or other business opportunity to the Company or any of its Affiliates and, to the fullest extent permitted by law, shall not be liable to the Company or its
    stockholders or to any Affiliate of the Company for breach of any fiduciary duty as a stockholder or director of the Company solely by reason of the fact that such Identified Person pursues or acquires such corporate opportunity for itself, herself or
    himself, or offers or directs such corporate opportunity to another Person or does not communicate information regarding such corporate opportunity to the Company.

   

  (b)            Notwithstanding anything to the contrary contained in this Section 3.3, the Company does not renounce its interest in any
    corporate opportunity offered to any Non- Employee Director (including any Non-Employee Director who serves as an officer of the Company) if such opportunity is expressly offered to such person solely in his or her capacity as a director or officer of
    the Company, and the provisions of Section 3.3(a) shall not apply to any such corporate opportunity.

   

  (c)            The Company agrees that it will include in its organizational documents a waiver of corporate opportunity provision substantially
    identical to the provisions set forth in Sections 3.3(a) and 3.3(b).

   

  
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  ARTICLE IV 

    REGISTRATION RIGHTS

   

  4.1            Demand Registrations.

   

  (a)            Subject to and without limiting any of the obligations of the Stockholder set forth in Section 5.1, (i) the Stockholder may
    request registration under the Securities Act of all or any portion of its Registrable Securities on Form S-1 (excluding a Shelf Registration) or any successor long-form registration statement (“Long-Form Registrations”) subject to and in
    accordance with Section 4.1(b) and (ii) the Stockholder may, if available, request registration under the Securities Act of all or any portion of its Registrable Securities on a shelf registration statement on Form S-3 or any successor
    short-form registration statement (a “Shelf Registration”), in each case of the foregoing clauses (i) and (ii), to be effective at any time from and following the first anniversary of the date on which the Company completes an IPO (or,
    in the event that the IPO is not completed prior to November 2, 2023, at any time from and following the Stockholder’s exercise of the Exchange Right) (subject to the expiration or waiver of the applicable lock-up period relating to such IPO), subject
    to and in accordance with Section 4.1(b); provided, that (A) the Stockholder shall be entitled to no more than one (1) Shelf Registration during each three (3)-year period and an aggregate of three (3) Shelf Registrations hereunder, (B)
    the Stockholder shall not be entitled to any Long-Form Registrations at any time when the Company is eligible to effect a Shelf Registration and (C) each Shelf Registration must include all of the Registrable Securities then held by the Stockholder.
    All registrations requested pursuant to this Section 4.1 by the Stockholder are referred to herein as “Demand Registrations.” Each request for a Demand Registration shall specify the approximate number of shares requested to be
    registered and the intended method of distribution.

   

  (b)            The Stockholder shall be entitled to demand an aggregate of four (4) underwritten public offerings hereunder whether in the form of
    Long-Form Registrations or take-downs off a Shelf Registration (each, a “Shelf Take-down”) hereunder; provided that (i) the aggregate offering value of the Registrable Securities requested to be registered in any underwritten public
    offering whether in the form of a Long-Form Registration or Shelf Take-down must be at least two percent (2%) of the then-outstanding Company Common Stock (or any such lesser amount if all of the Registrable Securities held by the Stockholder are
    requested to be included in such offering) and (ii) the Stockholder shall not be entitled to demand an underwritten public offering in the form of a Long-Form Registration if the Company is then eligible to effect such offering as a Shelf Take-down.

   

  (c)             If a Demand Registration is an underwritten offering and the managing underwriters advise the Company in writing that in their
    opinion the number of Registrable Securities and, if permitted hereunder, other securities requested to be included in such offering exceeds the number of Registrable Securities and other securities, if any, that can be sold in an orderly manner in
    such offering, then the Company shall include (i) first, all Registrable Securities requested to be sold by the Stockholder in such Demand Registration up to that number of securities that in the opinion of such underwriters can be sold in such
    offering without adversely affecting the marketability of the offering and (ii) second, any other securities requested to be included.

   

  
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  (d)            Notwithstanding anything to the contrary in this Agreement, the Company shall not be obligated to effect any Demand Registration
    during any period in which the Company and/or AIG is restricted from effecting a registration, offering or sale of shares of Company Common Stock pursuant to a lock-up or similar agreement entered into in connection with any offering or sale of Company
    Common Stock registered with the SEC and, if requested by the Company or AIG, the Stockholder shall enter into a lock-up or similar agreement with the managing underwriters in connection therewith; provided, that the restriction period
    thereunder shall not exceed one hundred eighty (180) days after the effective date of the Company’s IPO or ninety (90) days after the effective date of any other public offering, and (ii) the Company may postpone the filing or the effectiveness of a
    registration statement for a Demand Registration or suspend the use of a prospectus that is part of a Shelf Registration (and therefore suspend sales of Registrable Securities thereunder in accordance with Section 4.5(a)) during any Blackout
    Period; provided that only in such event, the Stockholder shall be entitled to withdraw such request for a Demand Registration and, if so withdrawn, such Demand Registration shall not count against the total number of Long-Form Registrations
    and Shelf Take-downs provided for in Section 4.1(b).

   

  (e)             If any Demand Registration, including any Shelf Take-down, is an underwritten offering, then the Stockholder shall have the right
    to select the managing underwriters to administer such offering, which managing underwriters must be reasonably acceptable to the Company. The IPO shall not be deemed to be a Demand Registration for this purpose.

   

  (f)             The Stockholder agrees, subject to Section 3.1, to treat as confidential the receipt of any notice hereunder and the
    information contained therein to the extent such information constitutes material non-public information within the meaning of the federal securities laws, and not to disclose or use any such material non-public information without the prior written
    consent of the Company until such time as any such material non-public information is or becomes available to the public generally (other than as a result of disclosure by the Stockholder or any of the Stockholder Representatives in breach of the terms
    of this Agreement).

   

  (g)             For so long as the Stockholder holds any Registrable Securities, the Company and its Affiliates shall not, without the
    Stockholder’s prior written consent, enter into any Contract providing another Person with registration rights that would conflict with the provisions of this Article IV.

   

  4.2            Piggyback Registrations.  (a) Subject to the terms and conditions of this Agreement, following the first anniversary of the
    date on which the Company completes an IPO (or, in the event that the IPO is not completed prior to November 2, 2023, at any time from and following the Stockholder’s exercise of the Exchange Right) (subject to the expiration or waiver of the IPO
    lock-up), whenever the Company proposes to register any of its securities for sale for cash under the Securities Act, whether proposed to be offered for sale by the Company or by any other Person (other than (i) pursuant to a Demand Registration, (ii)
    in connection with any registration on Form S-4, S-8 or any successor or similar form, (iii) in connection with a registration relating to a merger, acquisition, business combination transaction or reorganization of the Company or other transaction
    under Rule 145 of the Securities Act or (iv) a registration in which the only securities being registered are common stock issuable upon conversion of debt securities that are also being registered) and the registration form to be used may be used for
    the registration of Registrable Securities (a “Piggyback Registration”), the Company shall give prompt written notice to the Stockholder of its intention to effect such a registration and, subject to Section 4.2(b) and Section 4.2(c),
    shall use reasonable best efforts to include in such registration all Registrable Securities with respect to which the Company has received written requests for inclusion therein from the Stockholder within five (5) Business Days after the delivery of
    the Company’s notice.

   

  
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  (b)            If the Piggyback Registration of which the Company gives notice is for a registered public offering involving an underwriting, the
    Company shall so advise the Stockholder as a part of the written notice given.  In such event, the right of the Stockholder to registration pursuant to this Section 4.2(b) shall be conditioned upon the Stockholder’s participation in such
    underwriting and the inclusion of the Stockholder’s Registrable Securities in the underwriting to the extent provided herein.  If the Stockholder exercises its Piggyback Registration rights it shall enter into an underwriting agreement in customary
    form with the representative of the managing underwriters selected by the Company.  Notwithstanding any other provision of this Section 4.2, if the underwriters advise the Company that marketing factors require a limitation on the number of
    shares to be underwritten, the underwriters may (subject to the limitations set forth below) limit the number of Registrable Securities to be included in the registration and underwriting. The Company shall so advise the Stockholder, and the number of
    shares of securities that are entitled to be included in the registration and underwriting shall be allocated as follows:  (i) first, to the Company for securities being sold for its own account, (ii) second, to the Stockholder; and (iii) third, to any
    other holders of the Company’s securities.

   

  (c)             The Company shall have the right to terminate or withdraw any registration prior to the effectiveness of such registration whether
    or not the Stockholder has elected to include securities in such registration.  The Stockholder shall not have the right to withdraw its request for inclusion of its Registrable Securities in the offering pursuant to this Section 4.2(c)
    following its exercise of its Piggyback Registration rights.

   

  4.3            Registration Expenses.  All expenses incurred in connection with any registration statement or registration under the
    Securities Act (including a Long-Form Registration, Shelf Registration or Shelf Take-down) covering shares held by seller of securities pursuant to a registration under this Agreement, including all registration, qualification and filing fees, fees and
    expenses of compliance with securities or blue sky laws, filing expenses, printing expenses, messenger and delivery expenses, fees and disbursements of custodians and fees and disbursements of counsel for the Company (including the fees and
    disbursements of one, but not more than one, outside legal counsel for sellers of securities pursuant to a registration under this Agreement) and all independent certified public accountants, underwriters (excluding discounts and commissions) and other
    Persons retained by the Company (all such expenses being herein called “Registration Expenses”), shall be borne by the Company, and the Company also shall pay all of its internal expenses (including all salaries and expenses of its officers and
    employees performing legal or accounting duties), the expense of any annual audit or quarterly review, the expense of any liability insurance and the expenses and fees for listing the securities to be registered on each securities exchange on which
    similar securities issued by the Company are then listed. Notwithstanding anything to the contrary contained herein, each seller of securities pursuant to a registration under this Agreement shall bear and pay (i) all underwriting discounts and
    commissions and (ii) any stock transfer taxes applicable to the securities sold for such seller’s account.

   

  
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  4.4          Registration Procedures.  (a)  With respect to a registration of Registrable Securities, subject to Section 4.2(c) and
    Section 4.5, the Company shall use its reasonable best efforts to:  (i) keep such registration effective for a period ending on the earlier of the date that is one-hundred and twenty (120) days from the effective date of the registration
    statement or such time as the Stockholder has completed the distribution described in the registration statement relating thereto; (ii) prepare and file with the Commission such amendments and supplements to such registration statement and the
    prospectus used in connection with such registration statement as may be necessary to comply with the provisions of the Securities Act with respect to the disposition of all securities covered by such registration statement for the period set forth in
    (i) above; (iii) furnish such number of prospectuses, including any preliminary prospectuses, and other documents incident thereto, including any amendment of or supplement to the prospectus, as the Stockholder may from time to time reasonably request;
    (iv) notify the Stockholder (to the extent selling Registrable Securities covered by such registration statement) at any time when a prospectus relating thereto is required to be delivered under the Securities Act of the happening of any event as a
    result of which the prospectus included in such registration statement, as then in effect, includes an untrue statement of a material fact or omits to state a material fact required to be stated therein or necessary to make the statements therein not
    misleading or incomplete in light of the circumstances then existing, and following such notification promptly prepare and furnish to such Stockholder a reasonable number of copies of a supplement to or an amendment of such prospectus as may be
    necessary so that, as thereafter delivered to the purchasers of such shares, such prospectus shall not include an untrue statement of a material fact or omit to state a material fact required to be stated therein or necessary to make the statements
    therein not misleading or incomplete in light of the circumstances then existing; (v) comply with all applicable rules and regulations of the SEC; (vi) cause all such Registrable Securities registered pursuant to this Section 4.4 to be listed
    on the national securities exchange on which securities of the same class as such Registrable Securities are then listed, if any; (vii) cooperate and assist in any filings required to be made with the Financial Industry Regulatory Authority, Inc. and
    in the performance of any due diligence investigation by any underwriter in an underwritten offering; (viii) take such actions as shall be reasonably requested by the Stockholder or the lead managing underwriter of an underwritten offering to
    facilitate such offering, including without limitation, making customary road show presentations and, in a customary manner, holding meetings with and making calls to potential investors; and (ix) enter into customary agreements (including, in the case
    of an underwritten offering, one or more underwriting agreements in customary form, and including provisions with respect to indemnification and contribution in customary form) and in connection therewith: (A) make such representations and warranties
    to the underwriters, if any, in form, substance and scope as are customarily made by issuers to underwriters in similar underwritten offerings; (B) obtain opinions of counsel to the Company addressed to the underwriters, if any, covering the matters
    customarily covered in opinions requested in sales of securities or underwritten offerings; (C) obtain “cold comfort” letters and updates thereof from the Company’s independent certified public accountants addressed to the underwriters, if any, which
    letters shall be customary in form and shall cover matters of the type customarily covered in “cold comfort” letters to underwriters in connection with primary underwritten offerings; (D) deliver such documents and certificates as the sole underwriter
    or managing underwriter, if any, or its counsel, shall reasonably request to evidence the continued validity of the representations and warranties made in accordance with Section 4.4(a)(ix)(A) above and to evidence compliance with any customary
    conditions contained in the underwriting agreement; and (E) facilitate the settlement of such Registrable Securities through the facilities of The Depository Trust Company. The above, as set forth in Section 4.4(a)(iii) through Section
      4.4(a)(viii), shall be done at such times as customarily occur in similar offerings.

   

  
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  (b)            The Stockholder shall furnish to the Company such information regarding the Stockholder and the distribution proposed by the
    Stockholder as the Company may reasonably request or as shall be reasonably required in connection with any registration, qualification or compliance referred to in this Article IV.

   

  4.5            Registration Limitations.  (a) Subject to Section 4.4(a), the Company will use reasonable efforts to prepare such
    supplements or amendments (including a post-effective amendment), if required by Applicable Law, to each applicable registration statement and file any other required document so that such registration statement will be available at all times during
    the period for which such registration statement is required pursuant to this Agreement to be effective; provided, that no such supplement, amendment or filing will be required during a Blackout Period.  Notwithstanding anything to the contrary
    contained in this Agreement, the Company shall be entitled, from time to time, by providing written notice to the Stockholder, to postpone the filing of any registration statement for any Long-Form Registration or Shelf Registration and to require the
    holders of Registrable Securities to suspend the use of the prospectus for sales of Registrable Securities in connection with any Long-Form Registration, Shelf Registration or Shelf Take-down during any Blackout Period. No sales may be made by the
    Stockholder under any registration statement during any Blackout Period of which the Company has provided notice to the Stockholder.  In the event of a Blackout Period under clause (ii) of the definition thereof, the Company shall notify the
    Stockholder promptly upon each of the commencement and the termination of each Blackout Period.  In connection with the expiration of any Blackout Period, the Company, to the extent necessary and as required by Applicable Law, shall as promptly as
    reasonably practicable prepare supplements or amendments, including a post-effective amendment, to the registration statement or the prospectus, or any document incorporated therein by reference, or file any other required document, so that the
    applicable registration statement will be available for registration of registrable securities as contemplated hereby. A Blackout Period described in clause (ii) of the definition thereof shall be deemed to have expired when the Company has notified
    the Stockholder that the Blackout Period has so expired and the registration statement is available.  Upon expiration of a Blackout Period described in clause (i) of the definition thereof, any additional duration of a Blackout Period will be deemed to
    be a Blackout Period described in clause (ii) of the definition thereof and subject to the limitations therein.

   

  (b)           Notwithstanding anything to the contrary herein, Section 4.1 and Section 4.2, and the rights and obligations of the
    parties thereunder, shall terminate upon the Stockholder ceasing to hold 75% or more of the Company Common Stock held by the Stockholder as of the Closing.

   

  
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  4.6            Indemnification.

   

  (a)            To the extent permitted by law, the Company will indemnify and hold harmless the Stockholder, each of its Affiliates and its and
    their officers, directors and managers, and each person controlling the Stockholder within the meaning of Section 15 of the Securities Act, against all expenses, claims, losses, damages, and liabilities (or actions, proceedings, or settlements in
    respect thereof) arising out of or based on: (i) any untrue statement (or alleged untrue statement) of a material fact contained or incorporated by reference in any prospectus or other document incident to any such registration, qualification, or
    compliance, (ii) any omission (or alleged omission) to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading or (iii) any violation (or alleged violation) by the Company of the Securities
    Act, any state securities laws or any rule or regulation thereunder applicable to the Company and relating to action or inaction required of the Company in connection with any offering covered by such registration, qualification or compliance, and the
    Company will reimburse the Stockholder, each of its officers, directors and managers, and each person controlling the Stockholder as provided above, for any legal and any other expenses reasonably incurred in connection with investigating and defending
    or settling any such claim, loss, damage, liability, or action; provided, however, that the Company will not be liable in any such case to the extent that any such claim, loss, damage, liability, or action arises out of or is based on
    any untrue statement or omission based upon written information furnished to the Company by the Stockholder, any of the Stockholder’s officers, directors or managers, or any person controlling the Stockholder as provided above specifically for use
    therein; and provided, further, however, that the indemnity agreement contained in this Section 4.6(a) shall not apply to amounts paid in settlement of any such loss, claim, damage, liability, or action if such
    settlement is effected without the consent of the Company.

   

  (b)            To the extent permitted by law, the Stockholder will, if Registrable Securities held by the Stockholder are included in the
    securities as to which any registration, qualification, or compliance is being effected, indemnify and hold harmless the Company, each of its directors, officers, managers, legal counsel and accountants, and each underwriter, if any, of the Company’s
    securities covered by such a registration statement, and each person who controls the Company or such underwriter within the meaning of Section 15 of the Securities Act, against all claims, losses, damages and liabilities (or actions in respect
    thereof) arising out of or based on: (i) any untrue statement (or alleged untrue statement) of a material fact contained or incorporated by reference in any such registration statement, prospectus or other document, or (ii) any omission (or alleged
    omission) to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, and will reimburse the Company and the Company’s officers, directors and managers, legal counsel, and accountants,
    persons, underwriters, or control persons as provided above, for any legal or any other expenses reasonably incurred in connection with investigating or defending any such claim, loss, damage, liability, or action, in each case to the extent, but only
    to the extent, that such untrue statement (or alleged untrue statement) or omission (or alleged omission) is made in such registration statement, prospectus or other document in reliance upon and in conformity with written information furnished to the
    Company by the Stockholder and stated by the Stockholder to be specifically for use therein; provided, however, that the obligations of the Stockholder hereunder shall not apply to amounts paid in settlement of any such claims, losses,
    damages, or liabilities (or actions in respect thereof) if such settlement is effected without the consent of the Stockholder (which consent shall not be unreasonably withheld, conditioned or delayed); provided further that the
    obligations of the Stockholder hereunder shall be limited to the net proceeds received by the Stockholder from the sale of securities under any such registration statement or offering hereunder.

   

  
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  (c)

   

  (i)              Each party entitled to indemnification under this Section 4.6(c) (the “Indemnified Party”) shall give notice to the party
    required to provide indemnification (the “Indemnifying Party”) promptly after such Indemnified Party has actual knowledge of any claim as to which indemnity may be sought, and shall permit the Indemnifying Party to assume the defense of such
    claim or any litigation resulting therefrom; provided, however, that the Indemnified Party may participate in such defense at such party’s expense; and provided further, however, that the failure of any
    Indemnified Party to give notice as provided herein shall not relieve the Indemnifying Party of its obligations under this Section 4.6(c) to the extent such failure is not prejudicial.  No Indemnifying Party, in the defense of any such claim or
    litigation, shall, except with the consent of each Indemnified Party, consent to entry of any judgment or enter into any settlement that does not include as an unconditional term thereof the giving by the claimant or plaintiff to such Indemnified Party
    of a release from all liability in respect to such claim or litigation. Each Indemnified Party shall furnish such information regarding itself or the claim in question as an Indemnifying Party may reasonably request in writing and as shall be
    reasonably required in connection with defense of such claim and litigation resulting therefrom.

   

  (ii)             If the indemnification provided for in this Section 4.6(c) is held by a court of competent jurisdiction to be unavailable to an
    Indemnified Party with respect to any loss, liability, claim, damage, or expense referred to herein, then the Indemnifying Party, in lieu of indemnifying such Indemnified Party hereunder, shall contribute to the amount paid or payable by such
    Indemnified Party as a result of such loss, liability, claim, damage, or expense in such proportion as is appropriate to reflect the relative fault of the Indemnifying Party on the one hand and of the Indemnified Party on the other in connection with
    the statements or omissions that resulted in such loss, liability, claim, damage, or expense as well as any other relevant equitable considerations.  The relative fault of the Indemnifying Party and of the Indemnified Party shall be determined by
    reference to, among other things, whether the untrue or alleged untrue statement of a material fact or the omission to state a material fact relates to information supplied by the Indemnifying Party or by the Indemnified Party and the parties’ relative
    intent, knowledge, access to information, and opportunity to correct or prevent such statement or omission.

   

  (iii)            Notwithstanding the foregoing provisions of this Section 4.6(c), to the extent that the provisions on indemnification and
    contribution contained in the underwriting agreement entered into in connection with the underwritten public offering are in conflict with the foregoing provisions, the provisions in the underwriting agreement shall control.

   

  
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  4.7          Rule 144 Reporting.  With a view to making available to the Stockholder the benefits of Rule 144 promulgated under the
    Securities Act that may permit the sale of the Registrable Securities to the public without registration, the Company, following the first anniversary of the date on which the Company completes an IPO, agrees to use its reasonable best efforts to:

   

  (a)          make and keep current public information available, within the meaning of Rule 144 promulgated under the Securities Act, at all times
    after it has become subject to the reporting requirements of the Exchange Act;

   

  (b)          file with the SEC, in a timely manner, all reports and other documents required of the Company under the Securities Act and Exchange
    Act (after it has become subject to such reporting requirements); and

   

  (c)          so long as the Stockholder Beneficially Owns any Registrable Securities, furnish to the Stockholder forthwith upon request a written
    statement by the Company as to its compliance with the reporting requirements of said Rule 144 (at any time commencing ninety (90) days after the effective date of the first registration filed by the Company for an offering of its securities to the
    general public), the Securities Act and the Exchange Act (at any time after it has become subject to such reporting requirements); a copy of the most recent annual or quarterly report of the Company; and such other reports and documents as the
    Stockholder may reasonably request in availing itself of any rule or regulation of the SEC allowing it to sell any such securities without registration (in each case to the extent not readily publicly available).

   

  ARTICLE V 

    EQUITY LOCK-UP

   

  5.1          Sales and Transfers.

   

  (a)          From and after the Closing, subject to the rights of the Stockholder under Section 6.1, the Stockholder and its Affiliates
    shall not Sell any shares of Company Common Stock (including Purchased Shares), except as follows:

   

  (i)              the Stockholder and its Affiliates will be permitted to Sell shares of Company Common Stock to the Stockholder’s Affiliates; provided
    that such Affiliates agree to be bound by the terms of this Agreement as if they were the Stockholder;

   

  (ii)             following the IPO, the Stockholder and its Affiliates will be permitted to Sell shares of Company Common Stock, in one or more
    transactions effected pursuant to the Stockholder’s registration rights pursuant to Article IV, in privately negotiated transactions with a third-party purchaser or on the stock exchange upon which the Company Common Stock is listed pursuant to
    Rule 144 under the Securities Act, in each case, as follows: (A) after the first anniversary of the closing of the IPO, up to 25% of the Purchased Shares owned by the Stockholder as of Closing; (B) after the second anniversary of the closing of the
    IPO, up to an additional 42% of the Purchased Shares owned by the Stockholder as of the Closing (for a total of 67% of the Purchased Shares when including the Purchased Shares permitted to be transferred pursuant to the immediately preceding subclause
    (A)); (C) after the third anniversary of the closing of the IPO, up to an additional 8% of the Purchased Shares owned by the Stockholder as of the Closing (for a total of 75% of the Purchased Shares when including the Purchased Shares permitted to be
    transferred pursuant to the preceding subclauses (A) and (B)); and (D) after the fifth anniversary of the closing of the IPO, any shares of Company Common Stock (and the restrictions set forth in this Section 5.1(a) shall henceforth no longer
    apply); provided that, following an IPO, the restrictions set forth in this Article V on the Stockholder’s ability to Sell shares of Company Common Stock shall terminate if the Company or the Company Subsidiaries enter into any business
    that would subject the Stockholder or its Affiliates to obligations under the Bank Holding Company Act or any other Applicable Law that governs banking or similar entities;

   

  
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  (iii)            the Stockholder and its Affiliates will be permitted to Sell shares of Company Common Stock in connection with any share repurchase by
    AIG or the Company to cause the Stockholder’s ownership, of record, to not exceed 9.9% of the then-outstanding Company Common Stock;

   

  (iv)           the Stockholder and its Affiliates will be permitted to Sell shares of Company Common Stock in connection with a Change of Control of the
    Company that is approved and recommended to the Stockholders of the Company by the Board;

   

  (v)            the Stockholder and its Affiliates will be permitted to Sell shares of Company Common Stock to the extent permitted or required pursuant to
    Sections 5.2, 5.3 and 6.1; and

   

  (vi)           the Stockholder and its Affiliates will be permitted to Sell shares of Company Common Stock with the prior written consent of the Company
    (or, for so long as AIG Beneficially Owns Company Common Stock representing at least fifty (50%) of the then-outstanding shares of Company Common Stock, AIG).

   

  (b)          In the event that the IPO is not completed prior to November 2, 2023, then the restrictions on the Stockholder’s ability to Sell
    shares of Company Common Stock set forth in Section 5.1(a)(ii) above shall be deemed to have commenced as of such date and not as of the closing of the IPO as provided therein.

   

  (c)          During the Restriction Period, the Stockholder’s right to Sell Purchased Shares will be subject to such restrictions (and with the
    benefit of any exceptions) as provided in the applicable lock-up agreement with the underwriters in any public offering (including the IPO) by the Company or AIG; provided that the lock-up period in the case of the IPO shall not be longer than
    one-hundred and eighty (180) days and in the case of any public offering following the IPO shall not be longer than ninety (90) days; provided further that the Stockholder shall be provided with notice of any waiver of the terms of the
    lock-up agreement to be executed by AIG in connection with the relevant public offering and AIG shall make provision such that any such waiver shall operate as a waiver of the lock-up agreement of the Stockholder.

   

  (d)          If the Stockholder is permitted to Sell any shares of Company Common Stock hereunder, then, upon the request of the Stockholder in
    the event the Stockholder desires to Sell any or all of the shares of Company Common Stock then Beneficially Owned by it, including to a third-party purchaser, the Company shall reasonably cooperate with the Stockholder in taking any action reasonably
    necessary to transfer such shares pursuant to any such Sale, including by instructing the transfer agent to transfer any such Company Common Stock subject to the Sale without restrictive legends and taking other similar or administrative actions which
    are necessary to transfer such shares pursuant to any such Sale.

   

  
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  5.2            Drag-Along Right.

   

  (a)            Prior to an IPO, if any Person or group (within the meaning of Section 13(d) of the Exchange Act) of Persons who is not an
    Affiliate of AIG (such Person or group, a “Drag- Along Acquirer”) offers to acquire an amount of shares of Company Common Stock (whether in connection with a merger or consolidation of the Company, an offer to purchase shares directed to
    all stockholders, or otherwise) in a transaction that would constitute a Change of Control of the Company (a “Drag-Along Sale”), then (i) AIG may deliver to the Stockholder a written notice with respect to such Drag-Along Sale (a “Drag-Along
      Notice”) and (ii) the Stockholder shall thereafter be required to participate in such transaction on the same terms and conditions as AIG in accordance with the provisions of this Section 5.2.

   

  (b)            The Drag-Along Notice will include the material terms and conditions of the Drag-Along Sale, including (i) the identity of the
    Drag-Along Acquirer, (ii) the aggregate transaction value, the per share price and the form of consideration (or the right to elect the form of consideration) to be received by AIG and the Stockholder and any other material terms and conditions of the
    proposed Drag-Along Sale (which per share price and form of consideration (or the right to elect the form of consideration) and other material terms and conditions shall be the same for AIG and the Stockholder and, if such consideration consists in
    part or in whole of properties, assets or rights other than cash, AIG will provide such information relating to such non-cash consideration as is available to AIG (provided that information available to AIG upon request shall be deemed to be
    available) and the Stockholder may reasonably request in order to evaluate such non-cash consideration), (iii) the date of anticipated closing of the proposed Drag- Along Sale (which shall not be less than ten (10) Business Days after the date the
    Drag-Along Notice is delivered), (iv) the action or actions required of the Stockholder in order to complete or facilitate such proposed Drag Along Sale, (v) a percentage, expressed as a fraction, the numerator of which is the number of shares of
    Company Common Stock which AIG intends to Sell in such Drag-Along Sale and the denominator of which is the total number of outstanding shares of Company Common Stock then Beneficially Owned by AIG and (vi) copies of the definitive transaction documents
    relating to the Drag-Along Sale.

   

  
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  (c)             In connection with a Drag-Along Sale, the Stockholder shall be obligated to (i) vote all of such Stockholder’s shares in favor of
    the Drag-Along Sale, to the extent the consummation of such sale requires stockholder approval, and shall take any other action reasonably required to waive any dissenters’ rights or rights of appraisal under applicable law (including Section 262 of
    the Delaware General Corporation Law), (ii) transfer, at the same time and place and on the same terms and conditions as AIG (including with the same right to elect the form of consideration as is offered to AIG), a number of shares of Company Common
    Stock equal to (A) the number of shares of Company Common Stock which the Stockholder then Beneficially Owns multiplied by (B) a fraction, the numerator of which is the number of shares of Company Common Stock which AIG intends to Sell in such
    Drag-Along Sale and the denominator of which is the total number of outstanding shares of Company Common Stock then Beneficially Owned by AIG, and (iii) execute and deliver all documents reasonably necessary to effectuate such transaction; provided
    that, notwithstanding the foregoing or anything to the contrary set forth in this Section 5.2, (1) the Stockholder shall not be subject to any non-compete covenant, non-solicitation covenant or other similar provision that would bind or purport
    to restrict the Stockholder or any of its Affiliates, including any restriction or limitation on the ability of the Stockholder or any of its Affiliates to invest in any other Person (it being understood that the Stockholder may be subject to
    confidentiality restrictions (and with the benefit of any exceptions) on the same terms as AIG), (2) the Stockholder shall not be required to make representations and warranties or covenants or provide indemnities as to any other Person participating
    in such Drag-Along Sale and the Stockholder shall not be required to make any representations or warranties (but, subject to clause (4) of this proviso, may be required to provide several but not joint indemnities with respect to breaches of
    representations and warranties made by the Company) about the Company Business (it being understood that the Stockholder may be required to make customary representations and warranties as to its ownership of shares of Company Common Stock, authority,
    power and legal right to enter into and consummate a purchase or merger agreement and as to whether it has engaged a broker in connection with any such transaction); (3) the Stockholder shall not be liable for the breach of any covenant by any other
    holder of Company Common Stock or the Company (but shall bear liability severally for breach of any representation, warranty or covenant made specifically by it or relating to its specific ownership of shares of Company Common Stock); and (4) liability
    relating to representations, warranties and covenants (and related indemnities) and other indemnification obligations regarding the Company Business assumed in connection with the Drag-Along Sale shall be shared by AIG and the Stockholder severally and
    not jointly pro rata in proportion to the number of shares of Company Common Stock actually transferred by AIG and the Stockholder in such Drag-Along Sale and, in any event, in the case of the Stockholder, shall not exceed the proceeds actually
    received by the Stockholder in such Drag-Along Sale.

   

  (d)            If AIG is offered the opportunity in a Drag-Along Sale to receive all or a portion of its consideration in the form of securities
    of the Drag-Along Acquirer or an Affiliate thereof, or otherwise to rollover or contribute its shares of Company Common Stock immediately prior to the consummation of such Drag-Along Sale into securities of the Drag-Along Acquirer or any Affiliate
    thereof, then AIG shall make provision so that the Stockholder shall be offered the same opportunity in such Drag-Along Sale (irrespective of any rollover election, if applicable, made by AIG with respect to such transaction).

   

  (e)             At the closing of any Drag-Along Sale, the Stockholder shall deliver, against receipt of the consideration specified in the
    Drag-Along Notice, any certificates representing the shares of Company Common Stock which such Stockholder Beneficially Owns, with all endorsements necessary for transfer; provided that the Company will return, or cause the return of, such
    certificates promptly upon the termination of such proposed Drag-Along Sale or the determination that such proposed Drag-Along Sale will not be consummated.

   

  (f)             The provisions of this Section

      5.2 shall terminate upon the closing of an IPO.

   

  5.3            Tag-Along Right.

   

  (a)            Prior to an IPO, in the event the Drag-Along Right is not exercised but AIG elects to Sell in a transaction with any Person or
    group (within the meaning of Section 13(d) of the Exchange Act) of Persons (such Person or group, a “Tag-Along Acquirer”) any of the shares of Company Common Stock then Beneficially Owned by AIG (a “Tag-Along Sale”), then (i) AIG shall
    deliver to the Stockholder a written notice with respect to such Tag-Along Sale (a “Tag- Along Notice”) and (ii) the Stockholder shall have the right to participate as a seller in the Tag- Along Sale on the same terms and conditions as
    AIG in accordance with the provisions of this Section 5.3.

   

  
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  (b)            The Tag-Along Notice will include the material terms and conditions of the Tag- Along Sale, including (i) the identity of the
    Tag-Along Acquirer, (ii) the aggregate transaction value, the per share price and the form of consideration (or the right to elect the form of consideration) to be received by AIG and the Stockholder and any other material terms and conditions of the
    proposed Tag-Along Sale (which per share price and form of consideration (or the right to elect the form of consideration) and other material terms and conditions shall be the same for AIG and the Stockholder and, if such consideration consists in part
    or in whole of properties, assets or rights other than cash, AIG will provide such information relating to such non-cash consideration as is available to AIG (provided that information available to AIG upon request shall be deemed to be
    available) and the Stockholder may reasonably request in order to evaluate such non-cash consideration), (iii) the date of anticipated closing of the proposed Tag- Along Sale (which shall not be less than ten (10) Business Days after the date the
    Tag-Along Notice is delivered), (iv) a percentage, expressed as a fraction, the numerator of which is the number of shares of Company Common Stock which AIG intends to Sell in such Tag-Along Sale and the denominator of which is the total number of
    outstanding shares of Company Common Stock then Beneficially Owned by AIG and (v) copies of the definitive transaction documents relating to the Tag-Along Sale.

   

  (c)             The Stockholder shall have the right, exercisable by delivery of a notice to AIG at any time within ten (10) Business Days after
    receipt of the Tag-Along Notice (the “Tag-Along Exercise Notice”), to elect to Sell in connection with the Tag-Along Sale, and on the terms and conditions set forth in the Tag-Along Notice, up to a number of shares of Company Common Stock equal
    to (i) the number of shares of Company Common Stock which the Stockholder then Beneficially Owns multiplied by (ii) a fraction, the numerator of which is the number of shares of Company Common Stock which AIG intends to Sell in such Tag-Along
    Sale and the denominator of which is the total number of outstanding shares of Company Common Stock then Beneficially Owned by AIG; provided that, if AIG sells Company Common Stock in such Tag- Along Sale such that AIG ceases to own, directly
    or indirectly, at least 25% of the issued and outstanding Company Common Stock, then the Stockholder may Sell up to 100% of shares of Company Common Stock then Beneficially Owned by the Stockholder in any such Tag-Along Sale (and AIG may not Sell any
    shares of Company Common Stock in such Tag-Along Sale unless the Tag-Along Acquirer acquires such amount of shares of Company Common Stock elected by the Stockholder pursuant to this proviso). Subject to the proviso of the immediately preceding
    sentence, if the Tag-Along Acquirer is unwilling to purchase all of the shares of Company Common Stock proposed to be transferred by AIG and the Stockholder (determined in accordance with the first sentence of this Section 5.3(c)), then AIG and
    the Stockholder shall reduce, pro rata in proportion to the number of shares of Company Common Stock proposed to be transferred by AIG and the Stockholder in such Tag-Along Sale, the amount of shares of Company Common Stock that each otherwise would
    have sold so as to permit AIG and the Stockholder to sell the amount of shares of Company Common Stock that the Tag-Along Acquirer is willing to purchase.

   

  
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  (d)            AIG and the Stockholder shall, to the extent that the Stockholder has elected to participate in such Tag-Along Sale pursuant to
    this Section 5.3, transfer to the Tag-Along Acquirer, at the same time and place and on the same terms and conditions, the shares of Company Common Stock proposed to be transferred by them in accordance with this Section 5.3; provided
    that, notwithstanding the foregoing or anything to the contrary set forth in this Section 5.3, (i) the Stockholder shall not be subject to any non-compete covenant, non-solicitation covenant or other similar provision that would bind or purport
    to restrict the Stockholder or any of its Affiliates, including any restriction or limitation on the ability of the Stockholder or any of its Affiliates to invest in any other Person (it being understood that the Stockholder may be subject to
    confidentiality restrictions (and with the benefit of any exceptions) on the same terms as AIG), (ii) the Stockholder shall not be required to make representations and warranties or covenants or provide indemnities as to any other Person participating
    in such Tag-Along Sale and the Stockholder shall not be required to make any representations or warranties (but, subject to clause (iv) of this proviso, shall be required to provide several but not joint indemnities with respect to breaches of
    representations and warranties made by the Company) about the Company Business (it being understood that the Stockholder may be required to make customary representations and warranties as to its ownership of shares of Company Common Stock, authority,
    power and legal right to enter into and consummate a purchase or merger agreement and as to whether it has engaged a broker in connection with any such transaction); (iii) the Stockholder shall not be liable for the breach of any covenant by any other
    holder of Company Common Stock or the Company (but shall bear liability severally for breach of any representation, warranty or covenant made specifically by it or relating to its specific ownership of shares of Company Common Stock); and (iv)
    liability relating to representations, warranties and covenants (and related indemnities) and other indemnification obligations regarding the Company Business assumed in connection with the Tag-Along Sale shall be shared by AIG and the Stockholder
    severally and not jointly pro rata in proportion to the number of shares of Company Common Stock actually transferred by AIG and the Stockholder in such Tag-Along Sale, and, in any event, in the case of the Stockholder, shall not exceed the proceeds
    actually received by the Stockholder in such Tag-Along Sale.

   

  (e)             If AIG is offered the opportunity in a Tag-Along Sale to receive all or a portion of its consideration in the form of securities
    of the Tag-Along Acquirer or an Affiliate thereof, or otherwise to rollover or contribute its shares of Company Common Stock immediately prior to the consummation of such Tag-Along Sale into securities of the Tag-Along Acquirer or any Affiliate
    thereof, then AIG shall make provision so that the Stockholder shall be offered the same opportunity in such Tag-Along Sale (irrespective of any rollover election, if applicable, made by AIG with respect to such transaction).

   

  (f)             If, at the end of the 180th day after the date of the effectiveness of the Tag-Along Exercise Notice, the Tag-Along Sale has not
    been completed, then the Stockholder shall be released from the Stockholder’s obligations under the Tag-Along Exercise Notice, the Tag- Along Exercise Notice shall be null and void, and it shall be necessary for a separate Tag-Along Notice to be
    furnished to the Stockholder, and the terms and provisions of this Section 5.3 separately complied with, in order to consummate a transaction that would constitute a Tag- Along Sale pursuant to this Section 5.3.

   

  (g)             The provisions of this Section 5.3 shall terminate upon the closing of an IPO.

   

  
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  ARTICLE VI 

    ADDITIONAL COVENANTS

   

  6.1            Exchange Right.

   

  (a)            The Company shall, and AIG shall cause the Company to, complete an IPO prior to the 24-month anniversary of the Closing.
    Notwithstanding anything to the contrary under Article V, if the Company has not completed an IPO on or prior to the 24-month anniversary of the Closing, then, from and after such date until the occurrence of an IPO, the Stockholder shall have
    the right (and shall be entitled to obtain specific performance) to require AIG and the Company to effect an IPO, including through requiring the Company to file a registration statement on Form S-1 or other appropriate form, complete an audit of the
    Company’s consolidated financial statements and take such other actions as are reasonably necessary to complete an IPO.

   

  (b)            If an IPO is not completed prior to the 36-month anniversary of the Closing, then, from and after such date until the occurrence of
    an IPO, the Stockholder shall have the right, but not the obligation, to elect at any time and from time to time to (i) require AIG to exchange (the “Exchange Right”) all or a portion of the Purchased Shares (such shares, the “Exchange Shares”)

    for a number of validly issued, fully paid and non-assessable shares of AIG Common Stock (which shares shall be unregistered shares under the Securities Act) equal to the Exchange Consideration; provided that (A) in no event shall AIG be
    required to issue more than 250,000,000 shares of AIG Common Stock in the aggregate pursuant to the foregoing Exchange Right and (B) if, at any time following the date hereof, AIG or its Subsidiaries have a line of business that would, after giving
    effect to the Exchange Right (whether or not such Exchange Right is actually exercised by the Stockholder), subject the Stockholder or its Affiliates to obligations under the Bank Holding Company Act or any other Applicable Law that governs banking or
    similar entities, then (1) the number of shares of AIG Common Stock issued to the Stockholder pursuant to any subsequent exercise of the Exchange Right, together with any shares of AIG Common Stock then Beneficially Owned by the Stockholder, shall not
    exceed 4.99% of the then outstanding shares of AIG Common Stock, (2) each share of AIG Common Stock that would (but for the foregoing clause (1)) otherwise be issued to the Stockholder pursuant to the foregoing Exchange Right shall be a share of
    non-voting common stock or non-voting preferred stock of AIG that otherwise has the same rights, powers, preferences and designations as the AIG Common Stock, and (3) AIG shall make provision to convert such number of shares of AIG Common Stock then
    Beneficially Owned by the Stockholder pursuant to any prior exercise of the Exchange Right in excess of 4.99% of the then outstanding shares of AIG Common Stock to an equivalent number of shares of non-voting common stock or non-voting preferred stock
    of AIG that otherwise have the same rights, powers, preferences and designations as the AIG Common Stock, except that in the case of each of the foregoing clauses (2) and (3), each such share of non-voting common stock or non-voting preferred stock
    shall convert into a share of common stock, par value $2.50 per share, of AIG upon the transfer of such share of non-voting common stock or non-voting preferred stock by the Stockholder to a third party to the extent that such conversion upon a
    third-party transfer may be permitted without causing such share to be considered a “voting security” for purposes of the Bank Holding Company Act or any other Applicable Law that governs banking or similar entities, and (ii) Sell such shares of AIG
    Common Stock or any Purchased Shares it holds, each without any transfer restrictions (other than restrictions in respect of unregistered securities under applicable securities laws (it being understood that the Stockholder shall have the rights set
    forth in Article IV with respect to any resale of such unregistered securities, mutatis mutandis)). Prior to any permitted exercise by the Stockholder of such Exchange Right, at the Stockholder’s request,
    AIG shall use reasonable best efforts to take such actions as are necessary to render inapplicable to the Exchange Right any limitations set forth in Article XIII (or any successor provisions thereof) of AIG’s certificate of incorporation (as amended,
    restated, supplemented or otherwise modified from time to time) and/or AIG’s Tax Asset Protection Plan (as amended, restated, supplemented or otherwise modified from time to time and any successor thereto); provided that AIG shall not be
    required to take any such action to the extent that AIG determines, after consultation with the Stockholder and acting in good faith, that it is reasonably likely to jeopardize, endanger or defer in any material respect the availability to AIG’s
    consolidated federal income tax return group of a material amount of net operating losses (or any other tax attributes that would be limited pursuant to Sections 382 or 383 of the Code), and to the extent that AIG does not take any such action, then
    AIG shall cooperate with the Stockholder to facilitate the Stockholder’s exercise of the Exchange Right and sale of AIG Common Stock of (which facilitation may include facilitating sequential exchanges by the Stockholder such that following such
    sequential exchanges, the Stockholder may exchange and sell all of the Exchange Shares), in each case, in a manner that would not jeopardize, endanger or defer in any material respect the availability to AIG’s consolidated federal income tax return
    group of such net operating losses or tax attributes.

   

  
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  (c)             If, prior to the completion of the IPO, there is a Change of Control of AIG, then AIG shall make provision such that the ultimate
    acquirer in such Change of Control transaction (the “Acquirer”) shall assume the Exchange Right obligations of AIG hereunder; provided that the Acquirer shall have the right to (and, if an IPO has not been completed prior to the 36-month
    anniversary of the Closing and the Acquirer does not have freely tradable marketable securities at the time the Exchange Right is exercised, shall be required to) pay cash in lieu of issuing equity at a price equal to the Exchange Value. For purposes
    of this Section 6.1, “freely tradable marketable securities” means equity securities that are freely traded on the New York Stock Exchange, the Nasdaq Stock Market or another comparable national stock exchange in the United States
    without any restriction, whether restrictions arising from or pursuant to Contract or Applicable Law and including any restrictions or limitations as to time or volume thereunder.

   

  (d)            Notwithstanding anything to the contrary herein, (i) under no circumstances will the Stockholder be entitled to both (A) require
    that AIG and/or the Company complete an IPO and (B) exercise the Exchange Right and (ii) the rights of the Stockholder under this Section 6.1 shall terminate automatically upon an IPO.

   

  (e)             From and after exercise of the Exchange Right, the Stockholder shall have the registration rights set forth in Article IV,
    with respect to the shares of AIG Common Stock that are received pursuant to the Stockholder’s exercise of the Exchange Right, mutatis mutandis.

   

  
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  6.2            Spin-Offs or Split-Offs.  In the event that the Separation or the IPO results in the creation of a newly formed holding
    company which will be the direct or indirect parent of the Company and will own, directly or indirectly, all of the Company Business effective as of the Separation or the IPO (such company, “NewCo”), including by way of spin-off, split-off,
    carve-out, demerger, recapitalization, reorganization or similar transaction, then, in connection with the Separation or the IPO, AIG and the Company shall cause NewCo to enter into a Stockholders and Registration Rights Agreement with the Stockholder
    that provides the Stockholder with rights vis-à-vis such NewCo that are substantially identical to those set forth in this Agreement, such that NewCo shall be bound by, and subject to, all of the obligations of the Company as if NewCo were the Company
    hereunder, mutatis mutandis, and such Stockholders and Registration Rights Agreement shall be binding on and enforceable against NewCo, and AIG, NewCo and the Stockholder shall enter into such agreement, and such agreement shall supersede and
    replace, in all respects, this Agreement.

   

  6.3            Standstill.   Without the prior written approval of the Board, during the Restriction Period, the Stockholder shall not, and
    shall cause each of its Affiliates not to, directly or indirectly, in any manner, alone or in concert with other Persons, (i) acquire, offer or propose to acquire, or agree to acquire, directly or indirectly, whether by purchase, tender or exchange
    offer, through the acquisition of control of another person, by joining a partnership, limited partnership, syndicate or group (within the meaning of Section 13(d) of the Exchange Act), through swap or hedging transactions or otherwise, any securities
    of the Company or any rights decoupled from the underlying securities, in either case, that would result in the Stockholder (together with its Affiliates), having Beneficial Ownership in more than 9.9% in the aggregate of the shares of the Company
    Common Stock outstanding at such time, (ii) (A) make, engage in, or in any way knowingly participate in, directly or indirectly, any “solicitation” of proxies (as such terms are used in the proxy rules of the SEC but without regard to the exclusion set
    forth in Rule 14a-1(l)(2)(iv)) or become a “participant” in any contested “solicitation” (as such terms are defined or used under the Exchange Act) for the election of directors with respect to the Company, in each case, other than a “solicitation” or
    acting as a “participant” in support of all of the nominees of the Board at any stockholder meeting or (B) make or be the proponent of any stockholder proposal (pursuant to Rule 14a-8 under the Exchange Act or otherwise), (iii) enter, agree to enter,
    publicly propose or publicly offer to enter into any merger, business combination, recapitalization, restructuring, change in control transaction or other similar extraordinary transaction involving the Company (unless such transaction is affirmatively
    recommended by the Board) or (iv) enter into any agreements with any third party with respect to taking any of the actions set forth in the foregoing clauses (i), (ii) and (iii); provided that, notwithstanding the foregoing, nothing in this Section

      6.3 shall restrict or prohibit (A) the Stockholder Designee from taking any action, or refraining from taking any action, which he or she determines is necessary or appropriate in light of his or her fiduciary duties as a Director, (B) the
    ability of the Stockholder to Sell shares of Company Common Stock to the extent permitted pursuant to Sections 5.2 or 5.3 or acquire shares of Company Common Stock pursuant to Section 6.4 (or any New Securities issued pursuant
    to Section 6.4), in each case, subject to and in accordance with the terms of this Agreement, and (C) compliance by the Stockholder with, or the exercise by the Stockholder of any of its rights under, this Agreement. For the avoidance of doubt,
    the parties hereto acknowledge and agree that the Stockholder and the Stockholder Representatives engaging in discussions with, and responding to inquiries from, current and former directors and executive officers, investment bankers and other industry
    participants regarding the Stockholder’s investment in the Company, the nature of the Company Business and partnership, transaction or other opportunities involving the Company or the Stockholder shall not be subject to or constitute a violation of
    this Section 6.3 so long as they are without the purpose or intent of taking any action set forth in the foregoing clauses (i), (ii) and (iii).

   

  
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  6.4            Preemptive Rights.

   

  (a)            Until the earlier of (i) the closing of the IPO and (ii) the Fall-Away Event, if the Company proposes to issue or sell any capital
    stock of, other equity or voting interests in, or equity-linked securities of, the Company, including shares of Company Common Stock and any securities that are convertible or exchangeable into (or exercisable for) shares of Company Common Stock or any
    other class or series of capital stock of, other equity or voting interests in, or equity-linked securities of, the Company, including warrants, options or other rights in respect thereof (such securities, “New Securities”) to any Person or
    group (within the meaning of Section 13(d) of the Exchange Act) of Persons (each, a “Prospective Subscriber”), then the Stockholder shall be afforded the opportunity to acquire from the Company up to its Preemptive Right Portion (as defined
    below) of the New Securities for the same price and on the same terms as that offered to each Prospective Subscriber in accordance with the following provisions of this Section 6.4. The amount of New Securities that the Stockholder shall be
    entitled to purchase in the aggregate shall be determined by multiplying (A) the total number of such offered shares of New Securities by (B) a fraction, the numerator of which is the number of shares of Company Common Stock then Beneficially Owned by
    the Stockholder and the denominator of which is the total number of outstanding shares of Company Common Stock (the “Preemptive Rights Portion”).

   

  (b)            The Company shall give a written notice (the “Preemptive Rights Notice”) to the Stockholder at least ten (10) Business Days
    prior to the issuance and sale of the New Securities. The Preemptive Rights Notice will include the material terms and conditions of such issuance or sale, including (i) the number of such New Securities to be offered, (ii) the price per security of
    the New Securities and the other material terms, if any, upon which it proposes to offer such New Securities, (iii) the identity of each Prospective Subscriber and (iv) the proposed date of the issuance or sale of the New Securities.

   

  (c)             By notification to the Company within ten (10) Business Days after the Preemptive Rights Notice is given (the “Preemptive
      Rights Election Period”), the Stockholder may elect in writing (the “Preemptive Rights Exercise Notice”) to purchase or otherwise acquire, at the same time and place and on the same terms and conditions as each Prospective Subscriber, up
    to the Preemptive Rights Portion of the New Securities.  If, at the termination of the Preemptive Rights Election Period, the Stockholder has not exercised its rights under this Section 6.4 to purchase New Securities, the Stockholder shall be
    deemed to have waived any and all of its rights under this Section 6.4 solely with respect to such issuance and sale of New Securities and the Company may offer and sell such New Securities to any Person or Persons.

   

  (d)            The Stockholder shall purchase the New Securities that it has elected to purchase under this Section 6.4 concurrently with
    the related issuance and sale of such New Securities by the Company (subject to the receipt of any required approvals) to the Prospective Subscribers. If the proposed issuance and sale by the Company of securities which gave rise to the exercise by the
    Stockholder of its preemptive rights pursuant to this Section 6.4 shall be terminated or abandoned by the Company without the issuance and sale of any New Securities, then the purchase rights of the Stockholder pursuant to this Section 6.4
    shall also terminate as to such proposed issuance and sale by the Company (but not any subsequent or future issuance and sale), and any funds in respect thereof paid to the Company or any other Person by the Stockholder in respect thereof shall be
    promptly refunded in full.

   

  
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  (e)             If, at the end of the 120th day after the date of the effectiveness of the Preemptive Rights Exercise Notice, the Company has not
    completed the applicable issuance and sale of New Securities, then the Stockholder shall be released from the Stockholder’s obligations under the written commitment, the Preemptive Rights Exercise Notice shall terminate, and it shall be necessary for a
    separate Preemptive Rights Notice to be furnished to the Stockholder, and the terms and provisions of this Section 6.4 separately complied with, in order to consummate such issuance and sale pursuant to this Section 6.4.

   

  (f)             The provisions of this Section 6.4 shall not apply to issuances of New Securities by the Company: (i) to the Company or
    any of its wholly owned Subsidiaries; (ii) upon the exercise or conversion of any exchangeable, exercisable or convertible securities of the Company or the Company Subsidiaries, in each case, issued after the date hereof in a transaction for which the
    Stockholder had the opportunity to exercise its preemptive rights pursuant to this Section 6.4; (iii) to officers, employees, directors, independent contractors or consultants of the Company or its Subsidiaries in connection with such Person’s
    employment, independent contractor or consulting agreements or arrangements with the Company or the Company Subsidiaries; (iv) (A) as consideration payable to sellers in any business combination or acquisition transaction involving the acquisition of
    all or a part of a third party or a business of such third party by the Company or the Company Subsidiaries, (B) in connection with any joint venture or strategic partnership that is entered into for bona fide commercial or strategic purposes and not
    for purposes of raising capital (as determined by the Board or the appropriate committee of the Board in good faith), or (C) to third-party financial institutions, commercial lenders or any similar third parties in connection with the incurrence or
    guarantee of indebtedness by the Company or the Company Subsidiaries in a bona fide debt financing transaction (as determined by the Board or the appropriate committee of the Board in good faith); (v) in connection with any stock split, stock dividend
    paid on a proportionate basis to all holders of Company Common Stock; or (vi) in, or after the closing of, an IPO.

   

  (g)             The election by the Stockholder to not exercise its preemptive rights under this Section 6.4 in any one issuance and sale
    shall not affect its rights as to any subsequent proposed issuance and sale of New Securities.  The Company and the Stockholder shall cooperate in good faith to facilitate the exercise of the Stockholder’s rights pursuant to this Section 6.4.

   

  6.5            Dividend Policy.  Subject to Applicable Law and notwithstanding anything to the contrary in Section 2.5(b), (i)
    after the Closing and prior to the completion of the IPO, the Company shall pay regular quarterly dividends to all holders of Company Common Stock consistent with historical practices of the Company with respect to ordinary course dividends (other than
    with respect to the non-pro rata dividends permitted pursuant to this Agreement or the Separation Principles), and (ii) after the completion of the IPO, the Board shall determine the Company’s dividend policy.

   

  6.6            Certain Actions.  The Stockholder acknowledges and agrees that the Board will take actions with respect to those matters for
    which the Board is required to take action pursuant to the Master SMA Agreements in the manner specified therein.

   

  
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  6.7            Certain Transactions.  The Stockholder acknowledges and agrees that until the date on which the Company ceases to be a
    member of AIG’s consolidated federal income tax return group, the Company and the Company Subsidiaries shall be permitted to consummate transactions that accelerate taxable income up to an amount that does not materially exceed the amount of taxable
    income needed for AIG to utilize existing foreign tax credits.

   

  6.8            Logo. Subject to the terms and conditions of this Agreement, until a Fall-Away Event, AIG hereby grants Blackstone a
    non-exclusive, limited, non-sublicensable, non-transferable, and royalty-free license to use the name (including trade name) and logo of AIG in reports to investors and marketing materials to potential investors that discuss the Stockholder’s
    investment in the Company; provided, that (a) Blackstone will use such name and logo only in such form and appearance as used by AIG from time to time, (b) AIG shall be entitled to require removal and/or cessation of any use of its name or logo if, in
    its reasonable discretion, the use thereof by Blackstone dilutes the name or logo or misappropriates the associated goodwill and such problem is not cured within five (5) Business Days’ notice thereof, and (c) such name and logo shall not be used in
    connection with any goods, services, materials or messages, or in any form or manner, that is illegal, slanderous, libelous, defamatory or disparaging. For clarity, Blackstone may refer to the AIG name at all times (i) as required by Applicable Law and
    (ii) in a neutral, non-trademark, “fair use” manner to describe accurately the transactions contemplated by this Agreement.

   

  ARTICLE VII 

    GENERAL PROVISIONS

   

  7.1            Notices.  All notices, requests, claims, demands and other communications under this Agreement shall be in writing and shall
    be deemed to have been given (a) when delivered by hand (with written confirmation of receipt), (b) when received by the addressee if sent by a nationally recognized overnight courier (receipt requested), (c) on the date sent by email if sent during
    normal business hours of the recipient, and on the next Business Day if sent after normal business hours of the recipient, or (d) on the third day after the date mailed, by certified or registered mail, return receipt requested, postage prepaid. Such
    communications must be sent to the respective parties at the following addresses (or at such other address for a party as shall be specified by like notice):

   

  if to the Company, to:

   

  SAFG Retirement Services, Inc.

    21650 Oxnard Street

    Suite 750

    Woodland Hills, CA 91367

    Attention: General Counsel

    Email:      chris.nixon@aig.com

   

  
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  with a copy (not constituting notice) to:

   

  Wachtell, Lipton, Rosen & Katz

    51 West 52nd Street

    New York, New York 10019

    Attention: Edward D. Herlihy 

                     David K. Lam 

                     Mark A. Stagliano

  Email:      edherlihy@wlrk.com 

                     dklam@wlrk.com 

                     mastagliano@wlrk.com

   

  if to AIG, to:

   

  American International Group, Inc.

    1271 Avenue of the Americas

    41st Floor

    New York, New York  10020

    Attention: General Counsel

  Email:      lucy.fato@aig.com

   

  with a copy (not constituting notice) to:

   

  Wachtell, Lipton, Rosen & Katz

    51 West 52nd Street

    New York, New York 10019

    Attention: Edward D. Herlihy 

                     David K. Lam 

                     Mark A. Stagliano

  Email:      edherlihy@wlrk.com 

                     dklam@wlrk.com 

                     mastagliano@wlrk.com

   

  if to the Stockholder, to:

   

  Argon Holdco LLC

    c/o Blackstone Inc.

    345 Park Avenue

    New York, New York 10154

    Attention: John G. Finley

  Email:      john.finley@blackstone.com

   

  
    -36-

    
      
 

  

   

  with a copy (not constituting notice) to:

   

  Simpson Thacher & Bartlett LLP

    425 Lexington Avenue

    New York, New York  10017

    Attention: Elizabeth A. Cooper

                     Katherine M. Krause

  Email:      ecooper@stblaw.com 

                     katherine.krause@stblaw.com

   

  7.2            Amendment; Waiver.

   

  (a)            This Agreement may be amended, restated, supplemented, modified or terminated, in each case, only by a written instrument signed by
    each of the Company, AIG and the Stockholder.

   

  (b)            A provision of this Agreement may only be waived by a written instrument signed by the party waiving a right hereunder. No delay on
    the part of a party in exercising any right, power or privilege hereunder shall operate as a waiver thereof, nor shall any waiver on the part of a party of any right, power or privilege, nor any single or partial exercise of any such right, power or
    privilege, preclude any further exercise thereof or the exercise of any other such right, power or privilege.

   

  7.3            Assignment.  Except as permitted by Article V, neither this Agreement nor any of the rights, interests or
    obligations under this Agreement shall be assigned, in whole or in part, by operation of law or otherwise, by a party without the prior written consent of the other parties, and any such assignment that is not consented to shall be null and void; provided
    that the Stockholder may, without the prior written consent of either AIG or the Company, assign its rights and interests, and delegate its obligations, under this Agreement to an Affiliate thereof to which the Stockholder assigns the shares of Company
    Common Stock Beneficially Owned by the Stockholder; provided, however, that no such assignment or delegation shall relieve the Stockholder of its obligations hereunder. Subject to the foregoing, this Agreement will be binding upon,
    inure to the benefit of, and be enforceable by, the parties and their respective successors and assigns.

   

  7.4            Third Parties.  Except as otherwise expressly provided for in this Agreement, this Agreement is not intended to confer upon
    any Person other than the parties to this Agreement any rights or remedies.

   

  7.5            Governing Law.  This Agreement and any dispute arising hereunder shall be governed by, and construed in accordance with, the
    laws of the State of Delaware, without giving effect to its principles or rules of conflict of laws, to the extent such principles or rules are not mandatorily applicable by statute and would permit or require the application of the laws of another
    jurisdiction.

   

  
    -37-

    
      
 

  

   

  7.6            Arbitration; Jurisdiction;
      Waiver of Jury Trial.

   

  (a)            Each party hereto hereby agrees that any action, directly or indirectly, arising out of, under or relating to this Agreement, other
    than such actions in respect of Section 6.1 or 6.3 (which actions shall be exclusively governed by Section 7.6(b)) shall exclusively be resolved by a panel of three arbitrators in a confidential expedited arbitration
    administered by the American Arbitration Association (“AAA”) under the AAA’s Commercial Arbitration Rules and Mediation Procedures, and judgment on the award rendered by such arbitrators may be entered in any court having jurisdiction thereof. 
    Unless the parties to such action otherwise agree to conduct any arbitration proceeding pursuant to this Section 7.6(a) elsewhere, such proceeding shall be seated and any decision shall be rendered in New York, New York. The arbitration
    hearings shall take place in New York, New York at a venue to be selected by mutual agreement of the parties to such action. The award rendered by the arbitrators shall be reasoned, final and binding on the parties to the action; provided that
    (i) by agreeing to arbitration, the parties do not intend to deprive any court with jurisdiction of its ability to issue an injunction, order of specific enforcement, attachment or other form of provisional remedy or non-monetary relief and a request
    for such remedies by a party to a court shall not be deemed a waiver of this agreement to arbitrate, and (ii) in addition to the authority conferred upon the tribunal by the rules specified above, the tribunal shall also have the authority to grant
    provisional remedies, including injunctive relief. Any settlement discussions or arbitration proceedings to settle the action occurring under this Agreement shall be conducted in strict confidence. Except as necessary to enforce an award or as required
    by Applicable Law, no information or documents produced, generated or exchanged in connection with settlement discussions or arbitration proceedings (including any award(s) that might be rendered by the tribunal) shall be disclosed to any Person
    without the prior written consent of all parties to the settlement or arbitration proceedings. This restriction shall not apply to public records or other documents obtained by the parties in the normal course of business independent of any settlement
    discussions or arbitration proceedings.

   

  (b)            Each party hereto hereby agrees that any action directly or indirectly, arising out of, under or relating to Section 6.1 or
    6.3 or for an injunction, order of specific enforcement, attachment or other form of provisional remedy or non-monetary relief shall be brought in and shall exclusively be heard and determined by the Court of Chancery of the State of Delaware
    and, solely in connection with any such action contemplated by this Section 7.6(b), (i) irrevocably and unconditionally consents and submits to the foregoing and (ii) solely with respect to the actions contemplated by this Section 7.6(b),
    (A) irrevocably and unconditionally waives any objection to the laying of venue in respect of the Court of Chancery of the State of Delaware courts, (B) irrevocably and unconditionally waives and agrees not to plead or claim that the Court of Chancery
    of the State of Delaware is an inconvenient forum or does not have personal jurisdiction over any party hereto, and (C) agrees that mailing of process or other papers in connection with any such action in the manner provided herein or in such other
    manner as may be permitted by Applicable Law shall be valid and sufficient service thereof.  EACH PARTY HEREBY IRREVOCABLY WAIVES ANY AND ALL RIGHT TO TRIAL BY JURY IN ANY PROCEEDING ARISING OUT OF OR RELATED TO THIS AGREEMENT OR THE TRANSACTIONS
    CONTEMPLATED THEREBY. EACH PARTY CERTIFIES AND ACKNOWLEDGES THAT (I) NO OTHER PARTY OR REPRESENTATIVE, AGENT OR ATTORNEY THEREOF HAS REPRESENTED, EXPRESSLY OR OTHERWISE, THAT SUCH OTHER PARTY WOULD NOT, IN THE EVENT OF LITIGATION, SEEK TO ENFORCE THE
    FOREGOING WAIVER, (II) IT UNDERSTANDS AND HAS CONSIDERED THE IMPLICATIONS OF SUCH WAIVER, (III) IT MAKES SUCH WAIVER VOLUNTARILY AND (IV) IT HAS BEEN INDUCED TO ENTER INTO THIS AGREEMENT BY, AMONG OTHER THINGS, THE MUTUAL WAIVERS AND CERTIFICATIONS IN
    THIS SECTION 7.6(B).

   

  
    -38-

    
      
 

  

   

  7.7            Specific Performance.  The parties agree that irreparable damage would occur in the event that any of the provisions of this
    Agreement were not performed in accordance with their specific terms or were otherwise breached. It is accordingly agreed that, without the necessity of posting bond or other undertaking, the parties shall be entitled to an injunction or injunctions to
    prevent breaches of this Agreement and to enforce specifically the terms and provisions of this Agreement in accordance with this Agreement, this being in addition to any other remedy to which such party is entitled at law or in equity. In the event
    that any action is brought in equity to enforce the provisions of this Agreement, no party shall allege, and each party hereby waives any defense or counterclaim, that there is an adequate remedy at law. The parties further agree that nothing contained
    in this Section 7.7 shall require a party to institute any action for (or limit such party’s right to institute any action for) specific performance under this Section 7.7 before exercising any other right under this Agreement.

   

  7.8            Entire Agreement. This Agreement constitutes the entire agreement, and supersede all prior agreements, understandings,
    representations and warranties, both written and oral, among the parties with respect to the subject matter of this Agreement.

   

  7.9            Severability.  Whenever possible, each provision or portion of any provision of this Agreement will be interpreted in such
    manner as to be effective and valid under Applicable Law, but if any provision or portion of any provision of this Agreement is held to be invalid, illegal or unenforceable in any respect under any Applicable Law in any jurisdiction, such invalidity,
    illegality or unenforceability will not affect any other provision or portion of any provision in such jurisdiction, and this Agreement will be reformed, construed and enforced in such jurisdiction as if such invalid, illegal or unenforceable provision
    or portion of any provision had never been contained herein.

   

  7.10         Table of Contents, Headings and Captions.  The table of contents and headings contained in this Agreement are for reference
    purposes only and shall not affect in any way the meaning or interpretation of this Agreement.

   

  7.11         Grant of Consent. Any vote, consent or approval of, or designation by, or other action of, the Company, AIG or the Stockholder
    hereunder shall be effective if notice of such vote, consent, approval, designation or action is provided in accordance with Section 7.1 hereof.

   

  7.12         Counterparts. This Agreement may be executed in counterparts, all of which shall be considered one and the same agreement and
    shall become effective when counterparts have been signed by each party and delivered to the other party. Each party may deliver its signed counterpart of this Agreement to the other party by means of electronic mail or any other electronic medium
    utilizing image scan technology, and such delivery will have the same legal effect as hand delivery of an originally executed counterpart.

   

  
    -39-

    
      
 

  

  
   

  7.13         No Recourse.  Notwithstanding anything to the contrary contained herein or otherwise, this Agreement may only be enforced
    against, and any claims or causes of action that may be based upon, arise out of or relate to this Agreement, or the negotiation, execution or performance of this Agreement or the transactions contemplated hereby, may only be made against, the Persons
    that are expressly identified as parties to this Agreement (in the preamble and signature pages hereto) in their capacities as parties to this Agreement and no former, current or future equity holders, controlling persons, directors, officers,
    employees, agents, Affiliates, members, managers or general or limited partners of any of the Persons that are not expressly identified herein as parties to this Agreement or any former, current or future stockholder, controlling person, director,
    officer, employee, general or limited partner, member, manager, Affiliate or agent of any of the foregoing, or any other non-party, shall have any liability for any obligations or liabilities of the parties or for any claim (whether in tort, contract
    or otherwise) based on, in respect of, or by reason of, the transactions contemplated hereby or in respect of any representations, warranties or statements made or alleged to be made in connection herewith. Without limiting the rights of either party
    against the other party, in no event shall either party or any of its Affiliates seek to enforce this Agreement against, make any claims for breach of this Agreement against, or seek to recover monetary damages for breach of this Agreement from, any
    non-party, whether by or through attempted piercing of the corporate, limited partnership or limited liability company veil, by the enforcement of any assessment or by any legal or equitable proceeding, by virtue of any statute, regulation or
    Applicable Law, or otherwise. The non-parties shall be express third-party beneficiaries with respect to this Section 7.13, entitled to enforce this Section 7.13 as though each such non-party were a party to this Agreement.

   

  7.14         Certain Adjustments.  In the event of any stock split, stock dividend, reverse stock split, any stock combination or similar
    event, any references to a number of shares of Company Common Stock shall be appropriately adjusted to give effect to such stock split, stock dividend, reverse stock split, any stock combination or similar event.

   

  [Remainder of Page Intentionally Left

      Blank]

   

  
    -40-

    
      
 

  

   

  IN WITNESS WHEREOF, the parties hereto have executed this Stockholders Agreement on the day and year first above written.

   

  	
           

        	
          SAFG RETIREMENT SERVICES, INC.

        
	 	 	 	 
	
           

        	
           

        	
           

        	
           

        
	
           

        	
          By:

        	
          /s/ Kevin T. Hogan

        
	
           

        	
           

        	
          Name: 

        	
          Kevin T. Hogan

        
	
           

        	
           

        	
          Title:

        	
          Chief Executive Officer and President

        

   

  [Signature Page to Stockholders Agreement]

   

  
    
      
 

  

   

  	
           

        	
          AMERICAN INTERNATIONAL GROUP, INC.

        
	 	 	 	 
	
           

        	
           

        	
           

        	
           

        
	
           

        	
          By:

        	
          /s/ Mark Lyons

        
	
           

        	
           

        	
          Name: 

        	
          Mark Lyons

        
	
           

        	
           

        	
          Title:

        	
          Executive Vice President and Chief Financial Officer

        

   

  [Signature Page to Stockholders Agreement]

   

  
    
      
 

  

   

  	
           

        	
          ARGON HOLDCO LLC

        
	
           

        	
           

        
	
           

        	
          By: Blackstone Holdings II L.P., its sole member

        
	
           

        	
           

        
	
           

        	
          By: Blackstone Holdings I/II GP L.L.C., its general partner

        
	 	 	 	 
	
           

        	
           

        	
           

        	
           

        
	
           

        	
          By: 

        	
          /s/ Michael Chae

        
	
           

        	
          Name:  

        	
          Michael Chae

        
	
           

        	
          Title:

        	
          Chief Financial Officer

        

   

  [Signature Page to Stockholders Agreement]Exhibit 10.2

        

      EXECUTION
                VERSION

       

      
         

      

      

            STOCK PURCHASE AGREEMENT 

      BY AND
            BETWEEN

      AMERICAN
            INTERNATIONAL GROUP, INC.

      AND

      ARGON
            HOLDCO LLC

      DATED AS
            OF JULY 14, 2021

      
         

      

        

        
      
         

         

      

    

    

    
      
         

      

      TABLE OF CONTENTS

      
        	
                 

              	
                Page

              
	
                Article I
                      DEFINITIONS......................................................................................................................................................

              	
                4

              	
                 

              
	
                Section 1.1

              	
                Definitions.........................................................................................................................................

              	
                4

              	
                 

              
	
                Article II PURCHASE OF THE
                      SHARES..........................................................................................................................

              	
                13

              	
                 

              
	
                Section 2.1

              	
                Purchase and Sale of
                      Shares..............................................................................................................

              	
                13

              	
                 

              
	
                Section 2.2

              	
                Closing...............................................................................................................................................

              	
                13

              	
                 

              
	
                Section 2.3

              	
                Closing
                      Deliveries.............................................................................................................................

              	
                13

              	
                 

              
	
                Section 2.4

              	
                Withholding.......................................................................................................................................

              	
                14

              	
                 

              
	
                Section 2.5

              	
                Purchase Price
                      Adjustment................................................................................................................

              	
                14

              	
                 

              
	
                Section 2.6

              	
                Company
                      Capitalization....................................................................................................................

              	
                19

              	
                 

              
	
                Article III REPRESENTATIONS AND WARRANTIES OF
                      SELLER.............................................................................

              	
                19

              	
                 

              
	
                Section 3.1

              	
                Organization, Standing and Corporate
                      Power...................................................................................

              	
                19

              	
                 

              
	
                Section 3.2

              	
                Capital
                      Structure................................................................................................................................

              	
                20

              	
                 

              
	
                Section 3.3

              	
                Subsidiaries........................................................................................................................................

              	
                21

              	
                 

              
	
                Section 3.4

              	
                Authority............................................................................................................................................

              	
                21

              	
                 

              
	
                Section 3.5

              	
                Noncontravention;
                      Consents.............................................................................................................

              	
                21

              	
                 

              
	
                Section 3.6

              	
                Financial Statements; SEC
                      Reports...................................................................................................

              	
                22

              	
                 

              
	
                Section 3.7

              	
                No Undisclosed
                      Liabilities................................................................................................................

              	
                24

              	
                 

              
	
                Section 3.8

              	
                No Material Adverse Effect; Absence of
                      Changes............................................................................

              	
                24

              	
                 

              
	
                Section 3.9

              	
                Taxes..................................................................................................................................................

              	
                24

              	
                 

              
	
                Section 3.10

              	
                Compliance with Applicable Law;
                      Permits.......................................................................................

              	
                26

              	
                 

              
	
                Section 3.11

              	
                Litigation...........................................................................................................................................

              	
                26

              	
                 

              
	
                Section 3.12

              	
                Brokers..............................................................................................................................................

              	
                27

              	
                 

              
	
                Section 3.13

              	
                Sufficiency of
                      Assets.........................................................................................................................

              	
                27

              	
                 

              
	
                Section 3.14

              	
                Employee
                      Matters..............................................................................................................................

              	
                27

              	
                 

              
	
                Section 3.15

              	
                Insurance
                      Matters..............................................................................................................................

              	
                27

              	
                 

              
	
                Section 3.16

              	
                No Other Representation or
                      Warranty...............................................................................................

              	
                28

              	
                 

              
	
                Article IV REPRESENTATIONS AND WARRANTIES OF
                      BUYER..............................................................................

              	
                28

              	
                 

              
	
                Section 4.1

              	
                Organization and
                      Standing................................................................................................................

              	
                28

              	
                 

              
	
                Section 4.2

              	
                Authority............................................................................................................................................

              	
                28

              	
                 

              
	
                Section 4.3

              	
                Noncontravention;
                      Consents.............................................................................................................

              	
                28

              	
                 

              
	
                Section 4.4

              	
                Compliance with Applicable
                      Law.....................................................................................................

              	
                29

              	
                 

              
	
                Section 4.5

              	
                Purchase Not for
                      Distribution............................................................................................................

              	
                29

              	
                 

              
	
                Section 4.6

              	
                Litigation...........................................................................................................................................

              	
                29

              	
                 

              
	
                Section 4.7

              	
                Sufficiency of
                      Funds..........................................................................................................................

              	
                29

              	
                 

              
	
                Section 4.8

              	
                Limited
                      Guaranty...............................................................................................................................

              	
                30

              	
                 

              
	
                Section 4.9

              	
                Brokers..............................................................................................................................................

              	
                30

              	
                 

              
	
                Section 4.10

              	
                No Other Representation or
                      Warranty...............................................................................................

              	
                30

              	
                 

              

      

      
         

      

    

    

    
      
         

      

      
        	
                Article V
                      COVENANTS.....................................................................................................................................................

              	
                30

              
	
                Section 5.1

              	
                Conduct of
                      Business.........................................................................................................................

              	
                30

              
	
                Section 5.2

              	
                Access to
                      Information.......................................................................................................................

              	
                33

              
	
                Section 5.3

              	
                Reasonable Best
                      Efforts....................................................................................................................

              	
                33

              
	
                Section 5.4

              	
                Consents, Approvals and
                      Filings......................................................................................................

              	
                33

              
	
                Section 5.5

              	
                Public
                      Announcements.....................................................................................................................

              	
                36

              
	
                Section 5.6

              	
                Further
                      Assurances...........................................................................................................................

              	
                36

              
	
                Section 5.7

              	
                Company
                      Financing..........................................................................................................................

              	
                36

              
	
                Section 5.8

              	
                Stockholders
                      Agreement..................................................................................................................

              	
                36

              
	
                Section 5.9

              	
                Separation.........................................................................................................................................

              	
                37

              
	
                Section 5.10

              	
                Plan
                      Assets........................................................................................................................................

              	
                37

              
	
                Section 5.11

              	
                Corporate
                      Governance......................................................................................................................

              	
                38

              
	
                Section 5.12

              	
                Tax Matters...................................................................................................................................... 

              	
                38

              
	
                Section 5.13

              	
                SMA
                      Cooperation.............................................................................................................................

              	
                38

              
	
                Article VI CONDITIONS
                      PRECEDENT...........................................................................................................................

              	
                39

              
	
                Section 6.1

              	
                Conditions to Each Party’s
                      Obligations...........................................................................................

              	
                39

              
	
                Section 6.2

              	
                Conditions to Obligations of
                      Buyer..................................................................................................

              	
                39

              
	
                Section 6.3

              	
                Conditions to Obligations of
                      Seller..................................................................................................

              	
                40

              
	
                Article VII SURVIVAL;
                      INDEMNIFICATION................................................................................................................

              	
                40

              
	
                Section 7.1

              	
                Survival.............................................................................................................................................

              	
                40

              
	
                Section 7.2

              	
                Indemnification by
                      Seller.................................................................................................................

              	
                40

              
	
                Section 7.3

              	
                Indemnification by Buyer................................................................................................................ 

              	
                41

              
	
                Section 7.4

              	
                Claims
                      Procedure..............................................................................................................................

              	
                42

              
	
                Section 7.5

              	
                Payment............................................................................................................................................

              	
                45

              
	
                Section 7.6

              	
                Exclusive
                      Remedies..........................................................................................................................

              	
                45

              
	
                Section 7.7

              	
                Damages...........................................................................................................................................

              	
                45

              
	
                Section 7.8

              	
                Right to
                      Recover...............................................................................................................................

              	
                46

              
	
                Section 7.9

              	
                Double
                      Claims..................................................................................................................................

              	
                46

              
	
                Article VIII
                      TERMINATION.............................................................................................................................................

              	
                46

              
	
                Section 8.1

              	
                Termination of
                      Agreement...............................................................................................................

              	
                46

              
	
                Section 8.2

              	
                Effect of
                      Termination.......................................................................................................................

              	
                47

              
	
                Article IX GENERAL
                      PROVISIONS................................................................................................................................

              	
                48

              
	
                Section 9.1

              	
                Fees and
                      Expenses............................................................................................................................

              	
                48

              
	
                Section 9.2

              	
                Notices..............................................................................................................................................

              	
                48

              
	
                Section 9.3

              	
                Interpretation....................................................................................................................................

              	
                50

              
	
                Section 9.4

              	
                Entire Agreement; Third Party
                      Beneficiaries...................................................................................

              	
                51

              
	
                Section 9.5

              	
                Governing
                      Law.................................................................................................................................

              	
                51

              
	
                Section 9.6

              	
                Assignment.......................................................................................................................................

              	
                51

              
	
                Section 9.7

              	
                Jurisdiction;
                      Enforcement.................................................................................................................

              	
                51

              
	
                Section 9.8

              	
                Severability; Amendment;
                      Waiver...................................................................................................

              	
                52

              
	
                Section 9.9

              	
                Certain
                      Limitations...........................................................................................................................

              	
                53

              

      

      
        -2- 

      

    

    

    
      
         

      

       

      
        	
                Section 9.10

              	
                Non-Recourse....................................................................................................................................

              	
                54

              
	
                Section 9.11

              	
                No
                      Offset...........................................................................................................................................

              	
                54

              
	
                Section 9.12

              	
                Counterparts......................................................................................................................................

              	
                54

              

      

      
        -3- 

      

    

    

    
      
         

      

      STOCK PURCHASE AGREEMENT

      This
            STOCK PURCHASE AGREEMENT, dated as of July 14, 2021 (this “Agreement”),
            is made by and between American International Group, Inc., a Delaware
            corporation (“Seller”), and Argon Holdco LLC, a Delaware limited
            liability company (“Buyer”). 

      WHEREAS,
            Seller owns 100 shares of common stock (the “Common Stock”), par value
            $1.00 per share, of SAFG Retirement Services, Inc., a Delaware corporation (the “Company”), representing 100% of the issued and outstanding shares of
            Common Stock;

      WHEREAS,
            upon the terms and subject to the conditions set forth in this Agreement,
            Seller desires to (i) cause the Company to effect a stock split and
            recapitalization of the Common Stock into 90,100 shares of Class A common
            stock, par value $1.00 per share (the “New Class A Common Stock”), and
            9,900
            shares of Class B common stock, par value $1.00 per share (the “New Class B
              Common Stock” and, together with the New Class A Common Stock, the “New
              Common Stock”) and (ii) sell and convey to Buyer, and Buyer desires to
            purchase and acquire from Seller, 9,900 shares of New Class B Common Stock (the “Purchased Shares”), representing 9.9% of the issued and outstanding
            shares of New Common Stock following such purchase; and

      WHEREAS,
            at and in connection with the consummation of the transactions contemplated by
            this Agreement, (a) the applicable Company Subsidiaries will enter into
            separately managed account agreements with Blackstone ISG-I Advisors L.L.C., a
            Delaware limited liability company (“Investment Manager”), in the form
            attached hereto as Schedule A of the Seller Disclosure Schedule,
            pursuant to which Investment Manager will perform certain investment management
            services for such Company Subsidiaries (the “SMA Agreements”) and (b)
            the Investment Manager, Seller and the Company will enter into a commitment
            letter in connection with the SMA Agreements and this Agreement, in the form
            attached hereto as Schedule A of the Seller Disclosure Schedule,
            pursuant to which the Investment Manager and the Company will agree to certain
            terms and conditions associated with the SMA Agreements as set forth in such
            commitment letter (the “SMA Commitment Letter”). 

      NOW,
            THEREFORE, in consideration of the representations, warranties, covenants and
            agreements contained in this Agreement, the parties agree as follows:

      Article I

            DEFINITIONS

      Section 1.1       Definitions.  For purposes
            of this Agreement, the following terms have the respective meanings set forth
            below:  

      “Action”
            means (a) any civil, criminal or administrative action, suit, claim,
            litigation, audit, inquiry or examination, in each case, before a Governmental
            Entity or (b) any arbitration proceeding or similar proceeding.

      “Adjusted
              After Tax Income” has the meaning set forth in the Calculation
            Methodologies.

      
        -4- 

      

    

    

    
      
         

      

      “Adjusted Book Value”
            means shareholder’s equity, excluding Accumulated Other Comprehensive Income
            and adjusted for the cumulative unrealized gains and losses related to
            Fortitude Re funds withheld assets, calculated using the same methodologies,
            adjustments, procedures and assumptions as the Calculation Methodologies.

      “Adjusted
              Separation Balance Sheet” has the meaning set forth in Section 3.6(d). 

      “Affiliate”
            of any Person means another Person that directly or indirectly, through one or
            more intermediaries, controls, is controlled by or is under common control
            with, such first Person.  For the purposes of this definition, “control,”
            when used with respect to any Person, means the power to direct the management
            and policies of such Person, directly or indirectly through the ownership of
            voting securities, by contract, or otherwise, and the terms “controlling”
            and “controlled” have the meanings correlative to the foregoing.  For
            the avoidance of doubt, neither the Company nor any Company Subsidiary shall be
            deemed to be an “Affiliate” of Buyer.  For purposes of this Agreement, other
            than for purposes of the definition of “Buyer Indemnitee” and Section 9.10, neither Blackstone nor any investment
            funds or investment vehicles affiliated with, or managed or advised by, Blackstone
            or any portfolio company (as such term is commonly understood in the private
            equity industry) or investment of Blackstone or of any such investment fund or
            investment vehicle shall be deemed to be an “Affiliate” of Buyer.

      “Affiliate
              Contract” means any material Contract
            between any of the Company or any Company Subsidiary, on the one hand, and
            Seller or any Subsidiary of Seller (other than the Company or any Company
            Subsidiary), on the other hand.   

      “Agreement”
            has the meaning set forth in the Preamble. 

      “AH
              Distribution” has the meaning set forth in Section 5.1(b)(iv). 

      “AH
              Transaction” means the transactions contemplated by that certain Purchase
            Agreement, dated as of the date hereof, between Seller and Aztec Holdco LLC.

      “AICPA”
            means American Institute of Certified Public Accountants.

      “Applicable
              Law” means any law, statute, ordinance, written rule or regulation, order,
            injunction, judgment, decree, constitution or treaty enacted, promulgated,
            issued, enforced or entered by any Governmental Entity applicable to any Person
            or such Person’s businesses, properties, assets or rights, as may be amended
            from time to time.

      “Audit
              Opinion” means a report of independent auditors for an audit conducted in
            accordance with the standards of the AICPA of the balance sheets of the in-scope
            entities and partially in-scope entities as of March 31, 2021.

      “Audited
              Company Balance Sheet” has the meaning set forth in Section 2.5(c). 

      “Board”
            has the meaning set forth in Section 5.8 of the Seller Disclosure
            Schedule.

      “Blackstone”
            has the meaning set forth in Section 5.4(b). 

      
        -5- 

      

    

    

    
      
         

      

      “Business Day” means any day other than a Saturday,
            a Sunday or any other day on which banking institutions in New York, New York
            are required or authorized by Applicable Law to be closed.

      “Buyer”
            has the meaning set forth in the Preamble.

      “Buyer
              Indemnitee” means Buyer, each of its Subsidiaries and Affiliates, and its
            and their respective officers, directors, employees, agents, successors and
            permitted assigns. 

      “Buyer
              Material Adverse Effect” means any change, development, event or effect
            that is, individually or in the aggregate, materially adverse to the ability of
            Buyer to consummate the transactions contemplated hereby by the Outside Date.

      “Buyer
              Party” means Buyer or any Affiliate of Buyer that is a party to any
            Transaction Agreement.

      “Calculation
              Methodologies” are those line-item adjustments, methodologies, procedures
            and assumptions set forth on Section 1.1(d) of the Seller Disclosure Schedule.

      “Closing”
            has the meaning set forth in Section 2.2. 

      “Closing
              Adjusted Book Value” has the meaning set forth in Section 2.5(c). 

      “Closing
              Separation Balance Sheet” has the meaning set forth in Section 2.5(c). 

      “Closing
              Adjusted Separation Balance Sheet” has the meaning set forth in Section
              2.5(c). 

      “Closing
              Date” has the meaning set forth in Section 2.2. 

      “Closing
              Pro Forma Roll-Forward Balance Sheet” has the meaning set forth in Section
              2.5(c). 

      “Closing
              Purchase Price” has the meaning set forth in Section 2.5(c). 

      “Code”
            means the Internal Revenue Code of 1986, as amended.

      “Common
              Stock” has the meaning set forth in the Recitals.

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

      “Company
              Balance Sheet” has the meaning set forth in Section 3.6(d). 

      “Company
              Business” means the life and retirement
            insurance business, with such adjustments as reflected in the Separation  Balance
            Sheet, (i) as
            conducted by Seller and its Subsidiaries as of immediately prior to the date
            hereof for purposes of the representations and warranties set forth in Article
              III (other than Section 3.13) and Article IV and the
            covenants and agreements set forth in Article V (as well as the
            provisions of this Article I and Article IX with respect to the
            foregoing), and (ii) as conducted by Seller and its Subsidiaries as of
            immediately prior to the Separation for purposes of the representations and
            warranties set forth in Section 3.13  

      
        -6- 

      

    

    

    
      
         

      

      and the
            Separation Principles (as well as the provisions of this Article I and Article
              IX with respect to the foregoing).

      “Company
              Subsidiaries” has the meaning set forth in Section 3.3. 

      “Confidentiality
              Agreement” means the confidentiality agreement, dated March 6, 2021,
            between Seller and Blackstone.

      “Contract”
            means any contract, agreement, indenture, note, bond, loan, instrument, license
            or other enforceable arrangement or agreement.

      “Covered
              Accounts” has the meaning set forth in Section 3.14(b). 

      “Deal
              Adjustments” has the meaning set forth in the Calculation Methodologies.  

      “Deal
              Perimeter Adjustments” has the meaning set forth in the Calculation
            Methodologies.  

      “Deductible”
            has the meaning set forth in Section 7.2(b). 

      “Dispute
              Notice” has the meaning set forth in Section 2.5(e). 

      “Disputed
              Item” has the meaning set forth in Section 2.5(e). 

      “Enforceability
              Exceptions” has the meaning set forth in Section 3.4. 

      “Equity
              Commitment Letter” has the meaning set forth in Section 4.7. 

      “Equity
              Provider” has the meaning set forth in Section 4.7. 

      “Equity
              Provider Related Persons” has the meaning set forth in Section 5.4(e). 

      “ERISA”
            means the Employee Retirement Income Security Act of 1974.

      “Exchange
              Act” has the meaning set forth in Section 3.6(h).  

      “Final
              Adjusted Book Value” has the meaning set forth in Section 2.5(f). 

      “Final
              Pro Forma Roll-Forward Balance Sheet” has the meaning set forth in Section
              2.5(f). 

      “Final
              Purchase Price” has the meaning set forth in Section 2.5(f). 

      “Financial
              Supplement” has the meaning set forth in Section 3.6(d). 

      “Fraud”
            means actual and intentional fraud by a party to this Agreement with the
            specific intent to deceive or mislead in connection with the making of the
            representations and warranties set forth in Article III or Article IV,
            as applicable.  For the avoidance of doubt, “Fraud” does not include
            constructive fraud or any torts based on negligence or recklessness.

      “GAAP”
            means generally accepted accounting principles in the United States.

      
        -7- 

      

    

    

    
      
         

      

      “Giveback Equity” has the meaning set forth in Section
              2.5(b). 

      “Governmental
              Entity” means any domestic or foreign court, tribunal, commission or
            governmental authority, instrumentality (including any legislature, commission,
            regulatory or administrative agency, governmental branch, bureau or department)
            or agency or any self-regulatory body. 

      “HSR
              Act” has the meaning set forth in Section 3.5. 

      “Hybrid
              Securities” has the meaning set forth in Section 5.7. 

      “Hybrid
              Securities Offering” has the meaning set forth in Section 5.7. 

      “Indemnification
              Cap” has the meaning set forth in Section 7.2(b). 

      “Indemnified
              Party” has the meaning set forth in Section 7.4(a). 

      “Indemnifying
              Party” has the meaning set forth in Section 7.4(a). 

      “Independent
              Firm” has the meaning set forth in Section 2.5(g). 

      “Insurance
              Company” means any Subsidiary of the Company that is required to be
            licensed as an insurer or reinsurer.   

      “Insurance
              Contracts” means the insurance or annuity policies and contracts (including
            side letters), together with all binders, slips, certificates, endorsements and
            riders thereto, issued, entered into, acquired or assumed (by reinsurance or
            otherwise) by any Insurance Company prior to the Closing.

      “Insurance
              Regulator” means, with respect to any jurisdiction, the Governmental Entity
            charged with the supervision of insurance companies in such jurisdiction.

      “Interim
              Adjusted Book Value” has the meaning set forth in Section 2.5(a). 

      “Interim
              Pro Forma Roll-Forward Balance Sheet” has the meaning set forth in Section
              2.5(a). 

      “Interim
              Purchase Price” has the meaning set forth in Section 2.5(a). 

      “Investment
              Assets” means the investment assets, including general account and separate
            account assets, of the Insurance Companies. 

      “Investment
              Manager” has the meaning set forth in the Recitals. 

      “IPO”
            means the consummation of an initial public offering of securities by the
            Company, whether pursuant to an initial underwritten public offering of
            securities that is registered under the Securities Act or an initial public
            offering of the Company Business structured as a secondary offering of
            securities by Seller or a distribution of securities by the Company to existing
          

      
        -8- 

      

    

    

    
      
         

      

      equityholders that would result in securities of the
            Company being registered under the Exchange Act.

      “Knowledge”
            means the actual knowledge of (a) with respect to Seller, those Persons listed
            in Section 1.1(a) of the Seller Disclosure Schedule, and (b) with respect to
            Buyer, those Persons listed in Section 1.1(b) of the Seller Disclosure
            Schedule.

      “Liability”
            means any liability, damage, expense or obligation of any kind, character or
            description (including in respect of Taxes), whether direct or indirect, known
            or unknown, absolute or contingent, accrued or unaccrued, disputed or
            undisputed, liquidated or unliquidated, secured or unsecured, joint or several,
            due or to become due, vested or unvested, asserted or unasserted, executory,
            determined or determinable or otherwise.

      “Liens”
            has the meaning set forth in Section 3.2(a). 

      “Limited
              Guaranty” has the meaning set forth in Section 4.8. 

      “Material
              Adverse Effect” means any change, development, event or effect that has a
            material adverse effect on the business, financial condition or results of
            operations of the Company Business, taken as a whole, but excluding any such
            change, development, event or effect resulting from or arising out of (a)
            general political, economic or securities or financial market conditions
            (including changes in interest rates or changes in equity or debt prices and
            corresponding changes in the value of the Investment Assets of the Company and
            the Company Subsidiaries), (b) any occurrence or condition generally affecting
            participants in any jurisdiction or geographic area in any segment of the
            industries or markets in which the Company or the Company Subsidiaries
            participate, including the deferred and immediate annuity, variable annuity or
            life insurance industries, (c) any change or proposed change after the date
            hereof in GAAP, SAP or Applicable Law, or the interpretation or enforcement
            thereof (including changes after the date hereof in GAAP or SAP prescribed or
            permitted by the applicable insurance regulatory authority and accounting
            pronouncements of the SEC, the National Association of Insurance Commissioners
            and the Financial Accounting Standards Board), (d) natural or man-made
            catastrophe events, hostilities, acts of war or terrorism, or any escalation or
            worsening thereof, (e) any epidemic, pandemic or similar outbreak, (f) the
            COVID-19 virus outbreak and efforts by Governmental Entities in response
            thereto and the consequences of such efforts, (g) the negotiation, execution
            and delivery of, or compliance with the express terms of, or the taking of any
            action expressly required by, this Agreement or any other Transaction
            Agreements, or the public announcement of, or consummation in accordance with
            the terms hereof of, any of the transactions contemplated hereby or thereby
            (including the Separation) (including the effect thereof on the relationships
            (contractual or otherwise) of the Company and the Company Subsidiaries and
            their respective Affiliates with policyholders, clients, customers, employees,
            suppliers, vendors, service providers or Governmental Entities) (it being
            understood that this clause (g) shall be disregarded for purposes of the
            representations and warranties set forth in the first sentence of Section
              3.5 and the related condition to the Closing), (h) the effects of any
            breach, violation or non-performance of any provision of this Agreement by
            Buyer or any of its Affiliates, (i) the identity of or facts related to Buyer
            or its Affiliates or the effect of any action taken by Seller, the Company or
            any of their respective Affiliates at the express written request of Buyer,
            (j) changes in the value of any Investment Assets of the Company or any
            Company Subsidiaries, (k) any downgrade or threatened 

      
        -9- 

      

    

    

    
      
         

      

      downgrade
            or change or development in the financial strength or other rating assigned to
            the Company or any Company Subsidiaries by any rating agency (provided,
            that this clause (k) shall not by itself exclude the underlying causes of any
            such downgrade, change, development, event or effect to the extent such
            underlying causes are not otherwise excluded by clauses (a) through (l) (other
            than this clause (k)) hereof), or (l) any failure of the Company or any of the
            Company Subsidiaries to meet any financial projections or targets, including
            any estimates or expectations of revenue, earnings or other financial
            performance or results of operations for any period, in and of itself, or any
            failure by the Company or any of the Company Subsidiaries to meet its internal
            or published projections, budgets, plans or forecasts of its revenues, earnings
            or other financial performance or results of operations (provided, that
            this clause (l) shall not by itself exclude the underlying causes giving rise
            or contributing to any such failure to the extent such underlying causes are
            not otherwise excluded by clauses (a) through (k), except, in the case of the
            foregoing clauses (a), (b), (c) and (d), to the extent that such change,
            development, event or effect has a disproportionately adverse effect on the
            Company Business, taken as a whole, as compared to other participants in the
            same industry (in which case the incremental disproportionately adverse effect
            may be taken into account determining whether there has been a Material Adverse
            Effect).

      “New
              Class A Common Stock” has the meaning set forth in the Recitals. 

      “New
              Class B Common Stock” has the meaning set forth in the Recitals. 

      “New
              Common Stock” has the meaning set forth in the Recitals. 

      “Notice
              Period” has the meaning set forth in Section 7.4(c). 

      “Organizational
              Documents” of a Person means the certificate of incorporation, bylaws or
            equivalent organizational documents of such Person. 

      “Outside
              Date” has the meaning set forth in Section 8.1(b). 

      “Permits”
            has the meaning set forth in Section 3.10(b). 

      “Permitted
              Lien” means, with respect to any asset, any (a) carriers’, mechanics’,
            materialmens’ or similar Lien arising in the ordinary course of business
            imposed by Applicable Law for amounts not yet due, (b) Lien arising from any
            act of Buyer or any of its Affiliates, (c) Lien that is disclosed in Section
            1.1(c) of the Seller Disclosure Schedule under the heading “Permitted Liens”,
            (d) Lien for Taxes, assessments or other governmental charges not yet due and
            payable or due and payable but not delinquent or the amount or validity of
            which is being contested in good faith and, in each case, for which adequate
            reserves are reflected in accordance with GAAP, (e) Lien arising under a
            conditional sales Contract or equipment lease with a third party, (f) Lien in
            favor of the Company or any Company Subsidiary, (g) restrictions under
            applicable federal and state securities laws and (h) Lien or other imperfection
            of title that does not materially detract from the current value or materially
            interfere with the current use of the properties or rights affected thereby.

      “Person”
            means an individual, corporation, partnership, joint venture, limited liability
            company, association, trust, unincorporated organization, Governmental Entity
            or other entity.

      
        -10- 

      

    

    

    
      
         

      

      “Plan Asset Issue” means that any assets of a
            Covered Account constitute Plan Assets.

      “Plan
              Assets” has the meaning set forth in Section 3.14(b). 

      “Pro
              Forma Roll-Forward Balance Sheet” has the meaning set forth in Section 3.6(d). 

      “Purchase
              Price” has the meaning set forth in Section 2.1.  

      “Purchase
              Price Cap” means $2,200,000,000. 

      “Purchased
              Shares” has the meaning set forth in the Recitals. 

      “Reconciliation”
            has the meaning set forth in Section 3.6(d). 

      “Representative”
            means any Person’s directors, officers, employees, agents, advisors, attorneys,
            accountants, consultants and other representatives.

      “Resolution
              Period” shall have the meaning set forth in Section 2.5(f). 

      “SAP”
            means, for each of the Company and each Company Subsidiary, the statutory
            accounting practices prescribed or permitted in respect of such Person by the
            applicable Insurance Regulator for such Person’s state of domicile.

      “SEC”
            means the U.S. Securities and Exchange Commission.

      “Securities
              Act” has the meaning set forth in Section 4.5. 

      “Seller”
            has the meaning set forth in the Preamble.

      “Seller
              Disclosure Schedule” means the disclosure schedule (including any
            attachments thereto) delivered by Seller to Buyer in connection with, and
            constituting a part of, this Agreement.

      “Seller
              Fundamental Representations” means those representations and warranties of
            the Seller and the Company set forth in Section 3.1 (Organization,
            Standing and Corporate Power), Section 3.2(a) (Capital Structure), Section
              3.4 (Authority), and Section 3.12 (Brokers).

      “Seller
              Indemnitee” means Seller, each of its Subsidiaries and Affiliates, and its
            and their respective officers, directors, employees, agents, successors and
            permitted assigns. 

      “Seller
              SEC Documents” has the meaning set forth in Section 3.6(h).  

      “Separation”
            has the meaning set forth in the Separation Principles.

      “Separation
              Balance Sheet” has the meaning set forth in Section 3.6(d).   

      “Separation
              Documentation” has the meaning set forth in Section 5.9(a).  

      “Separation
              Principles” has the meaning set forth in Section 5.9(a). 

      
        -11- 

      

    

    

    
      
         

      

      “SMA Agreements” has the meaning set forth in the
            Recitals. 

      “SMA
              Commitment Letter” has the meaning set forth in the Recitals. 

      “Specified
              Amount” means $19,176,000,000.  

      “Specified
              Transaction Agreements” means the SMA Agreements and the SMA Commitment
            Letter. 

      “Statutory
              Statements” has the meaning set forth in Section 3.6(b). 

      “Stockholders
              Agreement” has the meaning set forth in Section 5.8. 

      “Subsidiary”
            of any Person at the time in question means another Person more than 50% of the
            total combined voting power of all classes of capital stock or other voting
            interests of which, or more than 50% of the equity securities of which, is at
            such time owned directly or indirectly by such first Person.

      “Target
              Adjusted Book Value” means $20,202,000,000.

      “Tax
              Authority” means any Governmental Entity having jurisdiction over the
            assessment, determination, collection or imposition of any Tax. 

      “Tax
              Proceeding” means any audit, examination, contest, litigation, dispute or
            other proceeding with respect to Taxes or with or against any Tax Authority.

      “Tax
              Return” means any return, report, estimate, extension request, information
            statement, or claim for refund filed or required to be filed in connection with
            any Tax, including any schedule or attachment thereto, and any amendment
            thereof.

      “Taxes”
            means any and all federal, state, local, or foreign taxes charges, fees, levies
            or other assessments, including any income, franchise, profits, gains, premium,
            property (real or personal), sales, use, excise, employment, unemployment,
            payroll, withholding, gross receipts, license, stamp, occupation, social
            security (or similar, including FICA), disability, workers’ compensation,
            windfall profits, environmental, capital stock, transfer, stamp, registration,
            value added, alternative or add-on minimum, estimated, or other tax of any kind
            or any charge, assessment or deficiencies of any kind in the nature of taxes,
            including in each case any interest, penalties, or additions thereto, whether
            disputed or not.

      “third-party
              claim” has the meaning set forth in Section 7.4(a). 

      “Transaction
              Agreements” means this Agreement, the SMA Agreements, the SMA Commitment
            Letter and the Stockholders Agreement.

      “Transaction
              Expenses” means, without duplication, all liabilities incurred by a party
            for fees, expenses, costs or charges as a result of the contemplation,
            negotiation, efforts to consummate or consummation of the transactions
            contemplated by this Agreement, including any fees and expenses of investment
            bankers, attorneys, accountants, actuaries or other advisors, and any fees 

      
        -12- 

      

    

    

    
      
         

      

      payable by such party to Governmental Entities or other
            third parties, in each case, in connection with the consummation of the
            transactions contemplated by this Agreement.

      “Treasury
              Regulations” means all proposed, temporary and final regulations
            promulgated under the Code, as such regulations may be amended from time to
            time.

      “Willful
              Breach” means, with respect to any breaches of or failures to perform any
            of the covenants or other agreements contained in this Agreement, a material
            breach that is a consequence of an act or failure to act undertaken by the
            breaching party with actual knowledge that such party’s act or failure to act
            would result in or constitute a material breach of this Agreement.  

      Article II

            PURCHASE OF THE SHARES

      Section 2.1       Purchase and Sale of Shares.  Upon the terms and subject to the conditions of this
            Agreement, Seller agrees to sell and convey to Buyer, and Buyer agrees to
            purchase and acquire from Seller, the Purchased Shares for an aggregate
            purchase price equal to two billion two hundred million U.S. dollars
            ($2,200,000,000) (the “Purchase Price”), to be paid in cash by wire
            transfer of immediately available funds as contemplated by Section 2.3.  The Purchase Price shall be subject to
            adjustment after the Closing in accordance with Section 2.5. 

      Section 2.2       Closing.  The closing
            of the purchase and sale of the Purchased Shares (the “Closing”) shall
            take place remotely by exchange of documents and signatures (or their
            electronic counterparts) at 9:00 a.m., New York City time, the third (3rd)
            Business Day following the satisfaction or waiver of all of the conditions set
            forth in Article VI (other than those conditions that by their terms are
            to be satisfied at the Closing, but subject to the satisfaction or waiver of
            such conditions at the Closing), unless another date, time or place is agreed
            to in writing by the parties (it being agreed that at either party’s request,
            the other party shall consider in good faith whether the Closing Date shall be
            the last Business Day of a calendar month).  The Closing shall for all purposes
            under this Agreement be deemed effective as of 12:01 a.m. on the day on which
            the Closing occurs, and such date and time are herein referred to as the “Closing
              Date.” 

      Section
            2.3       Closing Deliveries.

      (a)                          Seller Closing Deliveries.  At the Closing, Seller shall deliver or cause to be delivered to
            Buyer:

      (i)         one or more certificates or book-entry notations
            representing the Purchased Shares;

      (ii)        the certificate contemplated by Section 6.2(d);  

      (iii)       counterparts of each Transaction Agreement other than this
            Agreement to which Seller or the Company is a party, duly executed by such
            Person; and

      (iv)       a duly executed IRS Form W-9 of Seller.

      (b)        Buyer’s Closing Deliveries.  At the Closing, Buyer shall deliver to Seller:

       

      
        -13- 

      

    

    

    
      
         

      

      (i)         in cash, by wire
            transfer of immediately available funds to an account designated in writing by
            Seller no later than two (2) Business Days prior to the Closing Date, an amount
            equal to the Purchase Price;

      (ii)        the certificate contemplated by Section 6.3(c);
            and

      (iii)       counterparts of each Transaction Agreement other than this
            Agreement to which a Buyer Party is a party, duly executed by such Buyer Party.

      Section 2.4       Withholding.  Buyer
            and any other applicable withholding agent shall be entitled to deduct and
            withhold from any payments made pursuant to this Agreement such amounts as it
            is required to deduct and withhold with respect to the making of any such
            payment under any applicable Tax Law. To the extent that amounts are so
            withheld, and paid to the proper Tax Authority pursuant to any applicable Tax
            Law, such withheld amounts shall be treated for all purposes of this Agreement
            as having been paid to such Person in respect of which such deduction and
            withholding was made.  Except to the extent
            otherwise required pursuant to a change in Applicable Law, provided Seller
            complies with its obligation pursuant to Section 2.3(a)(iv), no
            deduction or withholding of Tax shall be made from the Purchase Price.  Buyer
            shall promptly, and in no event later than three (3) Business Days prior to
            Closing, notify Seller of its intention to make any deduction or withholding
            required pursuant to a change in Applicable Law and shall cooperate with Seller
            to mitigate, reduce or eliminate any such deduction or withholding.

      Section
            2.5       Purchase Price Adjustment

      (a)        Seller shall deliver (or cause to be delivered) to Buyer,
            no later than sixty (60) calendar days following the consummation of the AH
            Transaction, a pro forma balance sheet of the Company as of the Closing that is
            presented in the same manner and that uses the same methodologies, adjustments,
            procedures and assumptions used in the Pro Forma Roll-Forward Balance Sheet,
            taking into account all information available at such time (including the actual
            amount of the AH Distribution) and calculated in accordance with the
            Calculation Methodologies (the “Interim Pro Forma Roll-Forward Balance Sheet”). 
            The Interim Pro Forma Roll-Forward Balance Sheet will set forth the Adjusted
            Book Value as of the Closing, after giving effect to the AH Distribution (the “Interim
              Adjusted Book Value”), and be accompanied by reasonable supporting detail
            reflecting the basis for such calculation.  The “Interim Purchase Price”
            shall be an amount equal to the Purchase Price, as adjusted on the basis of the
            Interim Adjusted Book Value pursuant to Section 2.5(b)(i) or Section
              2.5(b)(ii), as applicable.

      (b)        The procedures for dispute resolution set forth in Section
              2.5(e) through (g)  shall apply to the Interim Pro Forma Roll-Forward
            Balance Sheet mutatis mutandis.  Promptly, and in any event
            within five
            (5) Business Days, after the Interim Adjusted Book Value becomes final and
            binding on the parties hereto: 

      (i)         if the Interim Adjusted Book Value exceeds the Target
            Adjusted Book Value, then, subject to the proviso in this Section 2.5(b),
            Buyer shall deliver, or cause to be
            delivered, to the Seller (or another entity designated in writing by the
            Seller) payment, by wire transfer to a bank account designated in writing by
            the Seller (such designation to be made within three (3) Business Days after
            the Interim Adjusted Book Value becomes 

      
        -14- 

      

    

    

    
      
         

      

      final and binding on
            the parties hereto), of immediately available funds in an amount equal to 9.9% multiplied 
          by  the absolute value of the difference between the Interim Adjusted
            Book Value and the Target Adjusted Book Value; and

      (ii)        if the Target Adjusted Book Value exceeds the Interim
            Adjusted Book Value, then Seller shall deliver, or cause to be delivered, to the Buyer (or another entity
            designated in writing by Buyer) payment, by wire transfer to a bank account
            designated in writing by Buyer (such designation to be made within three (3)
            Business Days after the Interim Adjusted Book Value becomes final and binding
            on the parties hereto), of immediately available funds in an amount equal to
            9.9% multiplied by the following:

      (A)       if the AH Distribution has occurred and the Interim
            Adjusted Book Value (giving effect to the AH Distribution) is equal to or
            greater than the Specified Amount, 50% of the absolute value of the difference
            between the Interim Adjusted Book Value and the Target Adjusted Book Value;

      (B)       if the AH Distribution has occurred and the Interim
            Adjusted Book Value (giving effect to the AH Distribution) is less than the
            Specified Amount, the sum of (1) $500,000,000 and (2) 100% of the absolute
            value of the difference between the Interim Adjusted Book Value and the
            Specified Amount; or

      (C)       if the AH Distribution has not occurred, the absolute value
            of the difference between the Interim Adjusted Book Value and the Target
            Adjusted Book Value;

      provided, however,
            that to the extent that the Interim Purchase Price exceeds the Purchase Price
            Cap, such portion of such excess shall be satisfied by Buyer delivering, or
            causing to be delivered, to Seller (or another entity designated in writing by
            Seller), a number of Purchased Shares (such shares, the “Giveback Equity”)
            then held by Buyer, such that, following such delivery, the ownership
            percentage held by Buyer shall equal (A) (1) the Purchase Price Cap minus 
            (2) an amount equal to the aggregate dividends paid after the Closing and prior
            to the delivery of the Giveback Equity in respect of the Giveback Equity divided
              by (B) the excess of the Interim Adjusted Book Value over the Target
            Adjusted Book Value plus $22,222,000,000.

      (c)        Seller shall deliver (or cause to be delivered) to Buyer,
            no later than the tenth (10th) Business Day prior to the earlier of
            (x) the expected consummation of the IPO and (y) the thirty-six (36)-month
            anniversary of the Closing Date, (i) an audited balance sheet of the Company and
            the Company Subsidiaries, which balance sheet shall have been prepared in
            accordance with the Calculation Methodologies and GAAP and shall be accompanied
            by an Audit Opinion (the “Audited Company Balance Sheet”), (ii)
            a pro
            forma balance sheet of the Company and the Company Subsidiaries, which shall be
            the Audited Company Balance Sheet that is presented in the same manner and is
            calculated in accordance with the Calculation Methodologies, adjusted for the
            actual Deal Perimeter Adjustments that are not included in the Audited Company
            Balance Sheet (the “Closing Separation Balance Sheet”), (iii) a
            pro
            forma balance sheet of the Company and the Company Subsidiaries, which shall be
            the Closing Separation Balance Sheet that is 

       

      
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      presented in
            the same manner and is calculated in
            accordance with the Calculation Methodologies, adjusted for the actual Deal
            Adjustments and any other adjustments required to reflect the actual terms of
            the Separation that are not included in the Closing Separation Balance Sheet
            (the “Closing Adjusted Separation Balance Sheet”), (iv) a pro
            forma
            balance sheet of the Company and the Company Subsidiaries, which shall be the
            Closing Adjusted Separation Balance Sheet rolled forward from March 31, 2021 to
            Closing to reflect the Roll-Forward Items, in each case, calculated in
            accordance with the Calculation Methodologies and based upon all information
            available at such time (the “Closing Pro Forma Roll-Forward Balance Sheet”),
            and, at Buyer’s request, an updated Reconciliation, bridging the amounts and
            calculations set forth in the Financial Supplement to the Audited Company Balance
            Sheet.  The Closing Pro Forma Roll-Forward Balance Sheet will be accompanied by
            reasonable supporting detail reflecting the basis for such calculation.  The
            Audited Company Balance Sheet, the Closing Separation Balance Sheet, the
            Closing Adjusted Separation Balance Sheet and the Closing Pro Forma
            Roll-Forward Balance Sheet (x) shall be calculated using the same financial
            accounting methods, principles, practices and principles (including actuarial,
            reserving and other methods, principles, practices and principles of the
            Insurance Companies), the same Tax classifications and Tax elections and
            valuations of assets used in preparing the Company Balance Sheet, the
            Separation Balance Sheet, the Adjusted Separation Balance Sheet and the Pro
            Forma Roll-Forward Balance Sheet, respectively, notwithstanding any changes
            subsequent to the date of the applicable balance sheet by the Company and any
            Company Subsidiaries thereto, and (y) in the case of the Closing Separation
            Balance Sheet, the Closing Adjusted Separation Balance Sheet and the Closing
            Pro Forma Roll-Forward Balance Sheet, shall reflect all legal entities
            considered (either in part or in full) in preparation of the Separation Balance
            Sheet.  In addition to the Audited Company Balance Sheet, Seller and Buyer will
            engage a mutually agreed-upon audit firm to conduct agreed-upon review
            procedures in accordance with AICPA Statement on Standards for Attestation
            Engagements 19 (“Review”) (the terms of which will be mutually
            agreed-upon by Buyer and Seller prior to the commencement of the Review) of the
            (i) Deal Adjustments and any other adjustments required to be taken to reflect
            the actual terms of the Separation that are not included in the Audited Company
            Balance Sheet reflected in either the Closing Separation Balance Sheet or the Closing
            Adjusted Separation Balance Sheet, and (ii) Adjusted After Tax Income for the
            Company and the Company Subsidiaries for the period from March 31, 2021 to
            Closing reflected in the Closing Pro Forma Roll-Forward Balance Sheet.  The
            Closing Pro Forma Roll-Forward Balance Sheet will set forth the Adjusted Book
            Value as of the Closing (the “Closing Adjusted Book Value”) and
            will not
            reflect the impact of any events or actions taken after the date of the Audited
            Company Balance Sheet, other than (1) the adjustments for events or actions
            contemplated to be taken after the date of the Audited Company Balance Sheet
            that are reflected as line items in the Separation Balance Sheet and the Pro
            Forma Roll-Forward Balance Sheet (including any changes or modifications as a
            result of the actual Separation and the Deal Adjustments), (2) any other
            separation adjustments required as a result of the actual Separation and (3)
            changes or modifications in Adjusted Book Value as a result of (but excluding
            any changes or modifications solely as a result of events or actions taken
            after the date of the Audited Company Balance Sheet) the audit of the Company
            and Company Subsidiaries and Review of the items described in clauses (i) and
            (ii) of the prior sentence.  The Closing Adjusted Book Value will be calculated
            based upon such Audited Company Balance Sheet and Review of Adjusted After Tax
            Income and the separation adjustments (including the Deal Adjustments) and, in
            each case, in a manner consistent with the provisions of this paragraph.  The “Closing
              Purchase Price” shall be an amount equal to the Purchase Price, as 

       

      
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      adjusted on
            the basis of the Closing Book Value pursuant to
          Section 2.5(h), as applicable. The parties agree that any
            Liabilities as
            a result of a breach of Section 3.8(c) shall be included as an
            appropriate adjustment to the Interim Purchase Price and the Closing Purchase Price
            in lieu of Buyer’s remedies under Section 7.2, notwithstanding
            anything
            to the contrary herein.  

      (d)       Seller and the Company shall provide (and shall cause their
            Subsidiaries to provide) Buyer and its Affiliates and their respective
            Representatives with such access to their and their Affiliates’ financial
            records and information relating to, and their employees and Representatives
            that were involved in, the preparation of Interim Pro Forma Roll-Forward
            Balance Sheet, the Audited Company Balance Sheet, the Closing Separation Balance
            Sheet, the Closing Adjusted Separation Balance Sheet, the Closing Pro Forma Roll-Forward
            Balance Sheet and the adjustment process set forth in this Section 2.5
            as may be reasonably requested by the Buyer or any of its Affiliates and their
            respective Representatives for purposes of the adjustment process set forth in
            this Section 2.5. 

      (e)        Within thirty (30) days after the delivery of the Closing Pro
            Forma Roll-Forward Balance Sheet, Buyer may provide Seller with a written
            notice setting forth, in reasonable detail, its disagreement with one or more
            items on the Closing Pro Forma Roll-Forward Balance Sheet, including the
            calculation of the Closing Adjusted Book Value prepared by the Company as part
            of the Closing Pro Forma Roll-Forward Balance Sheet (a “Dispute Notice”). 
            Any Dispute Notice must set forth in reasonable detail (i) any item on the
            Closing Pro Forma Roll-Forward Balance Sheet which Buyer believes has not been
            prepared in accordance with this Agreement and the correct amount of such item
            (each, a “Disputed Item”) and (ii) Buyer’s alternative
            calculation of
            the Disputed Item, as applicable, calculated in accordance with the Calculation
            Methodologies.  All items on the Closing Pro Forma Roll-Forward Balance Sheet
            that are not Disputed Items shall be final, conclusive and binding on the
            parties hereto for purposes of this Section 2.5. 

      (f)        If Buyer fails to provide a Dispute Notice within thirty
            (30) days after the delivery of the Closing Pro Forma Roll-Forward Balance
            Sheet, the Closing Pro Forma Roll-Forward Balance Sheet and the Closing
            Adjusted Book Value and the resulting calculation of the Closing Purchase Price
            contained therein shall be deemed accepted and shall become the “Final Pro
              Forma Roll-Forward Balance Sheet”, the “Final Adjusted Book
              Value”
            and the “Final Purchase Price”, respectively, and shall be
            final and
            binding upon the parties hereto.  If, within thirty (30) days after the
            delivery of the Closing Pro Forma Roll-Forward Balance Sheet, Buyer provides
            Seller with a Dispute Notice, Buyer and Seller shall attempt in good faith to
            amicably resolve all matters set forth in the Dispute Notice during the thirty
            (30) day period following receipt of the Dispute Notice by Buyer (the “Resolution
              Period”).  To the extent any such disputes are resolved to the mutual
            satisfaction of Buyer and Seller during the Resolution Period, such resolutions
            shall be reflected on the Closing Pro Forma Roll-Forward Balance Sheet and the
            resulting calculation of the Closing Adjusted Book Value and the Closing
            Purchase Price contained therein and shall be deemed final and binding upon the
            parties hereto, and, if all such disputes are so resolved, the Closing Pro
            Forma Roll-Forward Balance Sheet and the resulting calculation of the Closing
            Adjusted Book Value and the Closing Purchase Price contained therein, as
            modified to reflect the resolution of such disputes, shall be deemed final and
            shall become the Final Pro Forma Roll-Forward Balance Sheet, the Final Adjusted
            Book Value and the Final Purchase Price, respectively.

       

      
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      (g)        If any such disputes
            cannot, for any reason, be resolved prior to the expiration of the Resolution
            Period, then, within thirty (30) days after the end of the Resolution Period,
            Seller and Buyer shall (i) set forth in writing their respective positions on
            any such disputes still at issue and their determination of the calculation of
            the Closing Adjusted Book Value and the resulting calculation of the Closing
            Purchase Price and (ii) submit such written submissions regarding the
            unresolved disputes to a boutique specialty firm with an active practice area
            focused on post-merger and acquisitions purchase price dispute resolution
            selected jointly by Seller and Buyer (the “Independent Firm”). 
            The
            Independent Firm shall deliver its written determination to Buyer and Seller no
            later than forty five (45) days following the date on which the unresolved
            disputes are submitted in writing to the Independent Firm or such other date as
            the Independent Firm may determine in its discretion or as may be mutually
            agreed by Buyer and Seller.  The Independent Firm’s determination shall (A) be
            based solely on presentations and written submissions by Buyer and Seller to
            the Independent Firm made in accordance with this Section 2.5(g), and
            not by independent review and (B) set forth in reasonable detail the basis for
            the Independent Firm’s final determination of the Closing Adjusted Book Value
            in accordance with the Calculation Methodologies and the resulting calculation
            of Closing Purchase Price; provided  that the Independent Firm
            shall only
            be entitled to resolve Disputed Items, and in no event shall the Independent
            Firm determine, with respect to any item that remains an unresolved dispute submitted
            to it, an amount which is outside the range established by (1) the amount
            submitted by Seller in its submission under this Section 2.5(g)
            and (2)
            the amount submitted by Buyer in its submission under this Section 2.5(g). 
            Absent manifest arithmetical error, such determinations by the Independent Firm
            shall be conclusive and binding upon the parties and shall not be subject to
            appeal or review thereafter, and the Closing Pro Forma Roll-Forward Balance
            Sheet and the Closing Adjusted Book Value and the resulting calculation of the
            Closing Purchase Price contained therein, as modified by the Independent Firm’s
            final determination, shall be deemed final and shall become the Final Pro Forma
            Roll-Forward Balance Sheet, the Final Adjusted Book Value and the Final
            Purchase Price, respectively.  The fees and disbursements of the Independent
            Firm shall be borne by Seller and Buyer in inverse proportion to the absolute
            value of the difference between the Independent Firm’s determination the Final
            Adjusted Book Value and the other party’s calculation of Closing Adjusted Book
            Value in its submission under this Section 2.5(g) (i.e., so
            that each
            party will bear the Independent Firm’s fees and disbursements in proportion to
            the extent to which the other party prevails in respect of the difference
            between the parties’ aggregate calculations of the Closing Adjusted Book
            Value).

      (h)        Promptly, and in any event within five (5) Business Days,
            after the Final Adjusted Book Value becomes final and binding on the parties
            hereto pursuant to Section 2.5(f) or Section 2.5(g), as applicable,
            then either Buyer shall deliver, or cause
            to be delivered, to the Seller (or another entity designated in writing
            by the Seller), or Seller shall deliver, or
            cause to be delivered, to the Buyer (or another entity designated in
            writing by Buyer), as applicable, in either case a cash payment and/or a number
            of Purchased Shares (subject to the following proviso and the Purchase Price
            Cap) so that the Buyer and the Seller would be in the same position as they
            would have been, taking into account any cash dividends that have been (or
            should have been) received by Buyer or Seller in respect of Purchased Shares
            and any prior payment made by Buyer to Seller or Seller to Buyer pursuant to Section
              2.5(b), had the parties used (A) the Final Adjusted Book Value instead
            of the Interim Adjusted Book Value and (B) the final number of Purchased
            Shares (taking into account any Purchased Shares that shall constitute Giveback
            Equity) as a result of the purchase price adjustment in Section 2.5(b)
            and this Section 2.5(h), in each of cases (A) and (B), for

      
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      purposes
            of the purchase price adjustment in Section 2.5(b); provided,
            that, with respect to any payment made to Buyer, such payment shall be made (i)
            in cash if Buyer owns 9.900% of the outstanding equity of the Company and (ii)
            in such number of Purchased Shares as would result in Buyer owning 9.900% of
            the outstanding equity of the Company, plus cash in excess of such amount.

      (i)         Section 2.5(i) of the Seller Disclosure Schedule sets forth
            illustrative calculations of the Interim Purchase Price and Final Purchase
            Price adjustments calculated in accordance with this Section 2.5. 

      (j)         The parties agree to treat any amounts paid (or deemed paid
            through the delivery of shares) under this Section 2.5 as an
            adjustment
            to (A) the Purchase Price per Purchased Share and/or (B) the number
            of Purchased Shares acquired hereunder for all applicable tax purposes, unless
            otherwise required by law.

      Section 2.6       Company Capitalization. 
            Prior to the Closing, Seller shall, and shall cause the Company to, cause the
            Organizational Documents of the Company to be amended, and take such other actions
            as are necessary, to effect a stock split and recapitalization of the
            outstanding Common Stock into 90,100 shares of New Class A Common Stock and 9,900
            shares of New Class B Common Stock.  Upon the
            completion of such stock split and recapitalization, the New Common Stock shall
            be the only authorized, issued and outstanding capital stock of the Company,
            and all of the outstanding shares of New Common Stock shall be pari passu and
            identical in all respects, other than with respect to the right of the New
            Class A Common Stock to receive one hundred percent (100%) of any AH
            Distribution.

      Article III

            REPRESENTATIONS AND WARRANTIES OF SELLER

      Except
            as (a) disclosed in any report, schedule, form, statement or other document
            filed with or furnished to the SEC by Seller since December 31, 2019 and
            publicly available prior to the date of this Agreement, other than disclosure
            contained in the “Risk Factors” or “Forward-Looking Statements” sections
            thereof, it being understood that any matter disclosed in any such report,
            schedule, form, statement or other document shall not be deemed disclosed for
            purposes of Section 3.1, Section 3.2
            or Section 3.4, (b) set forth in
            the Seller Disclosure Schedule (it being understood that any information set
            forth in one Section or subsection of the Seller Disclosure Schedule shall be
            deemed to apply to and qualify the Section or subsection of this Agreement to
            which it corresponds in number and each other Section or subsection of this
            Agreement or the Seller Disclosure Schedule to the extent the relevance to such
            Section or subsection is reasonably apparent on the face of such disclosure),
            Seller represents and warrants to Buyer as follows:  

      Section
            3.1       Organization, Standing and Corporate Power.

      (a)      
          Each of Seller and the Company is a corporation duly incorporated,
            validly existing and in good standing under the laws of the State of Delaware. 
            Each of Seller and the Company has the requisite corporate power and authority
            to own, lease or otherwise hold the assets, rights and properties owned, leased
            or otherwise held by it and to carry on its business as now being conducted,
            except where the failure to have such power and authority (i) has not had and
            would 

      
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      not
            reasonably be expected to have, individually or in the aggregate, a Material
            Adverse Effect, (ii) would not reasonably be expected to be materially adverse
            to the ability of Seller to consummate the transactions contemplated hereby by
            the Outside Date and (iii) would not reasonably be expected to have a material
            adverse effect on the ability of Seller, the Company and the Company
            Subsidiaries, as applicable, to perform their obligations under the Transaction
            Agreements.  The Company is duly qualified as a foreign corporation to do
            business and is in good standing in each jurisdiction in which the nature of
            its business or the ownership, leasing or operation of its properties makes
            such qualification necessary, other than where the failure to be so qualified
            or in good standing has not had and would not reasonably be expected to have,
            individually or in the aggregate, a Material Adverse Effect.

      (b)        Seller or the Company has made available to Buyer true and
            complete copies of the Organizational Documents of the Company, each as amended
            to the date hereof.  The Organizational Documents of the Company that have been
            so delivered are in full force and effect, and neither Seller nor the Company
            is in breach of any provision thereof.

      Section
            3.2       Capital Structure.

      (a)        As of the date hereof, (i) there are 1,000 authorized
            shares of capital stock of the Company, consisting of 1,000 shares of Common
            Stock, and (ii) the issued and outstanding capital stock of the Company
            consists of 100 shares of Common Stock.  Except as provided in the preceding
            clause (ii), no shares of capital stock or other equity interests of the
            Company are issued, reserved for issuance or outstanding.  As of the Closing,
            (A) there shall be 200,000 authorized shares of capital stock of the Company,
            consisting of 180,000 shares of New Class A Common Stock and 20,000 shares of
            New Class B Common Stock, and (B) the issued and outstanding capital stock of
            the Company shall consist of 90,100 shares of New Class A Common Stock and 9,900
            shares of New Class B Common Stock.  Except as provided in the preceding clause
            (B), as of the Closing, there shall be no shares of capital stock or other
            equity interests of the Company that are issued, reserved for issuance or
            outstanding.  All outstanding shares of capital stock of the Company were duly
            authorized and validly issued and are fully paid and non-assessable, and are
            not subject to, and were not issued in violation of, the Securities Act or
            other Applicable Law, any Contract or any preemptive, subscription or similar
            rights.  Seller is the record and beneficial owner of all of the shares of
            Common Stock issued and outstanding, free and clear of all pledges, liens,
            charges, encumbrances and security interests of any kind (collectively, “Liens”)
            other than restrictions on transfer or otherwise under applicable securities
            laws.  There are no restrictions upon the voting or transfer of the shares of
            Common Stock pursuant to the Organizational Documents of the Company or any
            agreement to which Seller or the Company is a party.  There are no securities,
            options, warrants, rights (including conversion, exchange, preemptive, rights
            of first refusal, redemption rights, “tag along” rights or “drag along” rights
            and subscription rights) or other commitments or agreements (other than this
            Agreement or any other Transaction Agreement) of any kind to which Seller or
            the Company is a party obligating either of them to issue, sell, purchase, redeem,
            transfer or deliver shares of capital stock or other equity interests of the
            Company.

      (b)        Neither the Company nor any Company Subsidiary has any
            outstanding bonds, debentures, notes or other indebtedness, the holders of
            which have the right to vote (or which are convertible into or exercisable for
            securities having the right to vote) with the stockholders of the 

       

      
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      Company on any
            matter.  There are no voting trusts,
            proxies, “poison pills”, “stockholder rights plans” or similar Contracts to
            which the Company is a party with respect to the voting of any shares of
            capital stock or other equity interests of the Company.

      Section 3.3       Subsidiaries.  Each
            Subsidiary of the Company (a “Company Subsidiary”) is duly organized,
            validly existing and in good standing under the laws of its respective
            jurisdiction of incorporation, formation or organization and has the requisite
            power and authority to own, lease or otherwise hold the assets, rights and
            properties owned, leased or otherwise held by it and to carry on its business
            as now being conducted, in each case except where the failure to be in good
            standing or have such power and authority has not had and would not reasonably
            be expected to have, individually or in the aggregate, a Material Adverse
            Effect.  Each Company Subsidiary is duly qualified as a foreign corporation,
            limited liability company, partnership or other entity, as applicable, to do
            business and is in good standing in each jurisdiction in which the nature of
            its business or the ownership, leasing or operation of its properties makes
            such qualification necessary, other than in such jurisdictions where the
            failure to be so qualified or in good standing has not had and would not
            reasonably be expected to have, individually or in the aggregate, a Material
            Adverse Effect.  No Company Subsidiary is an insured depository institution
            within the meaning of section 3(c) of the Federal Deposit Insurance Act (12
            U.S.C. § 1813(c)).   

      Section 3.4       Authority.  Each of
            Seller, the Company and each applicable Company Subsidiary has the requisite
            corporate or other power and authority to enter into this Agreement and the
            other Transaction Agreements to which it is or will be a party and to
            consummate the transactions contemplated hereby and thereby, as applicable. 
            The execution and delivery by each of Seller, the Company and each applicable
            Company Subsidiary of this Agreement and the other Transaction Agreements to
            which it is or will be a party and the consummation by each of Seller, the
            Company and each applicable Company Subsidiary of the transactions contemplated
            hereby and thereby, as applicable, have been or, with respect to the
            Transaction Agreements to be executed and delivered after the date of this
            Agreement, will be, duly authorized by all necessary corporate action on the
            part of Seller, the Company or the applicable Company Subsidiary, as
            applicable.  Each of this Agreement and the other Transaction Agreements to
            which Seller, the Company or a Company Subsidiary is or will be a party has
            been or, with respect to the Transaction Agreements to be executed and
            delivered after the date of this Agreement, will be, duly executed and
            delivered by Seller, the Company or the applicable Company Subsidiary, as
            applicable, and, assuming this Agreement and such other Transaction Agreements
            constitute legal, valid and binding agreements of the other parties hereto and
            thereto, constitute legal, valid and binding obligations of Seller, the Company
            or the applicable Company Subsidiary, as applicable, enforceable against
            Seller, the Company or the applicable Company Subsidiary, as applicable, in
            accordance with their terms, except that (a) such enforcement may be subject to
            applicable bankruptcy, insolvency, reorganization, moratorium or other similar
            laws, now or hereafter in effect, affecting creditors’ rights generally and (b)
            the remedy of specific performance and injunctive and other forms of equitable
            relief may be subject to equitable defenses and to the discretion of the court
            before which any proceeding therefor may be brought (collectively, the “Enforceability
              Exceptions”). 

      Section 3.5       Noncontravention; Consents.  The execution and delivery by each of Seller, the
            Company and each applicable Company Subsidiary of this Agreement and the other Transaction
            Agreements to which it is or will be a party, and the consummation of the
            transactions contemplated hereby and thereby, will not (a) conflict with any of
            the provisions of the 

      
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      Organizational Documents of
            Seller or the Company, (b) subject to the matters referred to in the next
            sentence, conflict with, result in a breach of or default (with or without
            notice or lapse of time or both) under, give any contracting party the right to
            terminate, modify, cancel or accelerate or receive any payment, or provide its
            consent, under, or result in the creation of any Lien (other than a Permitted
            Lien) on any property, asset or right of Seller, or the Company or the Company
            Subsidiaries, or the Company Business, as applicable, under, any Contract to
            which such Person is a party or (c) subject to the matters referred to in the
            next sentence, contravene any Applicable Law applicable to Seller, or the
            Company or the Company Subsidiaries, as applicable, except, in the case of
            clauses (b) and (c), as (I) has not had and would not reasonably be expected to
            have, individually or in the aggregate, a Material Adverse Effect, (II) would
            not reasonably be expected to be materially adverse to the ability of Seller to
            consummate the transactions contemplated hereby by the Outside Date and (III)
            would not reasonably be expected to have a material adverse effect on the
            ability of Seller, the Company and the Company Subsidiaries, as applicable, to
            perform their obligations under the Transaction Agreements.  No consent,
            approval or authorization of, or declaration or filing with, or notice to, any
            third party or Governmental Entity is required by or with respect to Seller or
            the Company in connection with the execution and delivery of this Agreement and
            the other Transaction Agreements by Seller or the Company, as applicable, or
            the consummation by Seller or the Company, as applicable, of the transactions
            contemplated hereby and thereby, except for (i) the filing required under the
            Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended (the “HSR
              Act”), (ii) filings with the SEC, (iii) consents, approvals,
            authorizations, declarations, filings or notices in connection with the
            Separation and (iv) such other consents, approvals, authorizations, declarations,
            filings or notices that, if not obtained or made, have not had and would not
            reasonably be expected to (A) have, individually or in the aggregate, a
            Material Adverse Effect, (B) be materially adverse to the ability of Seller to
            consummate the transactions contemplated hereby by the Outside Date or (III)
            have a material adverse effect on the ability of Seller, the Company and the
            Company Subsidiaries, as applicable, to perform their obligations under the
            Transaction Agreements.

      Section
            3.6       Financial Statements; SEC Reports.

      (a)        Section 3.6(a) of the Seller Disclosure Schedule sets forth,
            with respect to each Insurance Company that is required to file statutory
            financial statements, true and complete copies of (i) the audited annual
            statutory financial statements of the Insurance Companies (together with all
            notes thereto) as of and for the years ended December 31, 2020 and December 31,
            2019 and (ii) the unaudited interim statutory balance sheets of the Insurance
            Companies as of March 31, 2021 (collectively, the “Statutory Statements”). 

      (b)        The Company maintains, in all material respects, (i) books
            and records in compliance with Applicable Law and (ii) proper and adequate
            systems of internal accounting controls designed to provide reasonable
            assurance that:  (A) transactions are executed with management’s general or
            specific authorization, (B) transactions are recorded as necessary to permit
            preparation of its financial statements in conformity in all material respects
            with SAP, (C) access to its assets is permitted only in accordance with
            management’s general or specific authorization and (D) the recorded accountability
            for assets is compared with existing assets at reasonable intervals and
            appropriate actions are taken with respect to any differences.  To the
            Knowledge of Seller, since January 1, 2019, neither the Company nor Seller has
            received any material claim regarding the internal accounting controls of the
            Company.  The Company has 

      
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      disclosed,
            based on the most recent evaluation of internal control over financial
            reporting prior to the date of this Agreement, to Seller’s auditors and the
            audit committee of the board of directors of Seller, (1) all “significant
            deficiencies” or “material weaknesses” in the design or operation of internal
            control over financial reporting which are reasonably likely to materially
            adversely affect the Company or any Company Subsidiaries’ ability to record,
            process, summarize and report financial information and (2) any fraud, whether
            or not material, that involves management or other employees who have a
            significant role in the Company or such Company Subsidiaries’ internal control
            over financial reporting.  No material weakness in the Company’s or any Company
            Subsidiaries’ internal control over financial reporting or reportable
            conditions existed as of December 31, 2020.

      (c)        The statutory policy reserves required by SAP to be held
            with respect to the Insurance Contracts reported in the Statutory Statements (i)
            were determined, in all material respects, in accordance with SAP, (ii) are
            fairly stated, in all material respects, in accordance with sound actuarial
            principles applied on a consistent basis, and (iii) include, in all material
            respects, provisions for all actuarial reserves required to be established in
            accordance with Applicable Law.

      (d)       Section 3.6(d)(i) of the Seller Disclosure Schedule sets
            forth an unaudited balance sheet of the Company as of March 31, 2021, prepared
            in accordance with GAAP, and fairly presents in all material respects the
            consolidated financial position of the Company as of such date (the “Company
              Balance Sheet”).  Section 3.6(d)(ii) of the Seller Disclosure Schedule sets
            forth a copy of the Company Balance Sheet adjusted to give effect to the assets
            and liabilities contemplated to be transferred to the Company and Company
            Subsidiaries in connection with the Separation in accordance with the
            Separation Principles (other than the Deal Adjustments), calculated in
            accordance with the Calculation Methodologies and prepared in good faith (the “Separation
              Balance Sheet”).  Section 3.6(d)(iii) of the Seller Disclosure Schedule sets
            forth a copy of the Separation Balance Sheet, adjusted to give effect to the
            Deal Adjustments (the “Adjusted Separation Balance Sheet”). 
            Section
            3.6(d)(iv) of the Seller Disclosure Schedule sets forth a copy of an
            illustrative Separation Balance Sheet, adjusted on an illustrative basis, to
            (A) include the results of Adjusted After Tax Income earned during the period
            from March 31, 2021 to an illustrative closing on August 31, 2021 (other than
            any contributions to Adjusted After Tax Income from sources that are not the
            Company or the Company Subsidiaries following Separation) and (B) reflect an illustrative
            dividend declared between March 31, 2021 and Closing (clauses (A) and (B), the “Roll-Forward Items”), in each case, calculated in accordance with the
            Calculation Methodologies and prepared in good faith (the “Pro Forma
              Roll-Forward Balance Sheet”).  The Adjusted Book Value set forth on the Pro
            Forma Roll-Forward Balance Sheet equals the Specified Amount.  Section
            3.6(d)(v) of the Seller Disclosure Schedule sets forth a reconciliation (the “Reconciliation”)
            from the Seller’s Quarterly Financial Supplement for the period ended March 31,
            2021 Financial Supplement (the “Financial Supplement”) through
            the
            Company Balance Sheet.   

      (e)        Seller has filed with or furnished to the SEC all reports,
            schedules, forms, statements or other documents (including all exhibits and
            financial statements required to be filed or furnished therewith and any other
            document or information required to be incorporated therein) required by the
            Securities Act or the Securities Exchange Act of 1934, as amended (the “Exchange
              Act”), to be filed or furnished by Seller with the SEC since December 31,
            2019 (collectively, together with any documents filed with or furnished to the
            SEC during such period by Seller to the SEC on a voluntary basis, the “Seller
              SEC Documents”). As of its respective date, or, if amended 

       

      
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      prior to the
            date hereof, as of the date of the last such
            amendment, each Seller SEC Document complied when filed or furnished (or, if
            applicable, when amended) in all material respects with the Securities Act, the
            Exchange Act and the Sarbanes-Oxley Act, and none of the Seller SEC Documents
            when filed or furnished (or, in the case of a registration statement filed
            under the Securities Act, at the time it was declared effective or subsequently
            amended) contained any untrue statement of a material fact or omitted to state
            a material fact required to be stated therein or necessary in order to make the
            statements therein, in the light of the circumstances under which they were
            made, not misleading.  

      Section 3.7       No Undisclosed Liabilities.  Neither the Company nor any of the Company Subsidiaries
            has any liability, whether known or unknown, absolute, accrued, contingent or
            otherwise, that is required to be reflected in a balance sheet (or the notes
            thereto) of the Company and the Company Subsidiaries prepared in accordance
            with GAAP, except (a) those liabilities provided for or disclosed in the Company
            Balance Sheet, or in the notes thereto, (b) liabilities incurred in the ordinary
            course of business since March 31, 2021, (c) liabilities incurred in connection
            with the transactions contemplated by this Agreement (including the Separation)
            and the other Transaction Agreements, (d) liabilities that will no longer be
            liabilities of the Company and the Company Subsidiaries following the
            completion of the Separation and (e) other liabilities that would not
            reasonably be expected to have, individually or in the aggregate, a Material
            Adverse Effect.  

      Section 3.8       No Material Adverse Effect; Absence of Changes.  (a) Since December 31, 2020, there has not been any
            event or change that has had or would reasonably be expected have, individually
            or in the aggregate, a Material Adverse Effect, (b) since December 31, 2020 and
            prior to the date hereof, each of Seller, the Company and the Company
            Subsidiaries has conducted the Company Business in all material respects in the
            ordinary course of business (other than in connection with the execution and
            delivery of this Agreement, the transactions contemplated by this Agreement
            (including the Separation) and any alternatives thereto) and (c) since March
            31, 2021 and prior to the date hereof, the Company has not (i) taken any action
            that, if taken after the date of this Agreement, would require the consent of
            Buyer pursuant to Sections 5.1(b)(vi) and (vii)  or (ii) declared
            or paid any dividends; provided  that, notwithstanding anything to the
            contrary herein, compliance with this Section 3.8(c) shall not be a
            condition, and shall not be considered for purpose of determining the
            satisfaction of any condition, precedent to the Closing, and any breach of this
          Section 3.8(c) shall not give rise to any claim for indemnification
            pursuant to Article VII, but any breach of this Section 3.8(c)
            shall be treated in accordance with the final sentence of Section 2.5(c). 
             

      Section 3.9       Taxes.  Except as would not reasonably be expected to have,
            individually or in the aggregate, a Material Adverse Effect:

      (a)        (i) All Tax Returns required to be filed by or on behalf of
            the Company or any Company Subsidiary have been timely filed (after giving
            effect to any valid extensions of time in which to make such filings) with the
            appropriate Tax Authorities and are true and complete and (ii) all Taxes,
            whether or not shown on such Tax Returns, required to be paid by or with
            respect to the Company or any Company Subsidiary (including Taxes required to
            be withheld from payments to third parties) have been timely paid, except, in
            each case, with respect to Taxes or matters for which adequate reserves are
            reflected, in accordance with GAAP, in the Company’s and the 

       

      
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      Company
            Subsidiaries’ financial statements. The Company and
            each Company Subsidiary has complied with Applicable Law relating to
            withholding and reporting (including information reporting) of Taxes and has
            duly and timely withheld and paid over to the appropriate Tax Authorities all
            amounts required to be so withheld and paid over.

      (b)        As of the date hereof, no deficiencies for Taxes have been
            proposed, asserted or assessed in writing against the Company or any Company
            Subsidiary that have not been resolved or paid in full.  No agreement, waiver
            or other document or arrangement is currently in effect waiving or extending the
            period for assessment or collection of Taxes (including any applicable statute
            of limitation) with respect to the Company or any Company Subsidiary. As of the
            date hereof, neither the Company nor any Company Subsidiary is under audit,
            examination or investigation by any Governmental Entity or the subject of any
            judicial or administrative proceeding in respect of Taxes.  During the past
            three years, neither the Company nor any Company Subsidiary has received
            written notice from any jurisdiction in which the Company or such Subsidiary
            has not filed income or franchise Tax Returns or paid income or franchise Taxes
            that the Company or such Company Subsidiary is required to file such Tax
            Returns or pay such Taxes in such jurisdiction.

      (c)        Except for (i) any existing Tax sharing or allocation
            agreements between (A) Seller or any of its Subsidiaries (other than the
            Company or any Company Subsidiaries), on the one hand, and (B) the Company
            or any Company Subsidiaries, on the other hand,
            which agreements are in substantially the same form as the Tax sharing
            agreements previously provided to Buyer or (ii) any Tax sharing or allocation
            agreements solely between or among the Company and any Company Subsidiaries,
            neither the Company nor any Company Subsidiaries is a party to or bound by any
            agreement dealing with Tax sharing, allocation, indemnity or distribution
            (other than an agreement entered into in the ordinary course of business or a
            lending arrangement that, in each case, does not relate primarily to Taxes)
            pursuant to which it will have any obligation to make any payments for any
            periods ending after the Closing.

      (d)       Neither the Company nor any Company Subsidiary (i) has
            during the past ten years  been a member of an affiliated group filing a
            consolidated Tax Return (other than the “affiliated group” as defined in
            Section 1504(a) of the Code, the common parent of which is or was Seller or any
            of its Subsidiaries) or (ii) has any liability for Taxes of any Person (other
            than Seller, any Subsidiary of the Seller or any Company Subsidiary) under
            Treasury Regulations Section 1.1502-6 or any similar provision of state, local
            or foreign law, or as a transferee or successor.  

      (e)        There are no Liens for Taxes upon the assets of the Company
            or any Company Subsidiaries, except for Permitted Liens.

      (f)        During the past two years, neither the Company nor any
            Company Subsidiaries has been a “distributing corporation” or a “controlled
            corporation” within the meaning of Section 355(a)(1)(A) of the Code.

      (g)        Within the past three years, neither the Company nor any
            Company Subsidiaries has participated in any “listed transactions” within the
            meaning of Treasury Regulations Section 1.6011-4(b)(2).

       

      
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      (h)        Neither the Company
            nor any Company Subsidiaries has received or applied for a Tax ruling or
            entered into a closing agreement pursuant to Section 7121 of the Code, offer in
            compromise, or similar agreement with a Tax Authority, in any case, that would
            be binding upon the Company or any Company Subsidiaries after the Closing.

      Section 3.10     Compliance with Applicable Law; Permits.

      (a)        The Company and the Company Subsidiaries are, and, since
            December 31, 2019, have been, in compliance in with all Applicable Laws, except
            as would not reasonably be expected to be, individually or in the aggregate,
            material to the Company Business, taken as a whole, or materially adverse to
            the ability of Seller to consummate the transactions contemplated hereby. 
            Except as would not reasonably be expected to be, individually or in the
            aggregate, material to the Company Business, taken as a whole, or materially
            adverse to the ability of Seller to consummate the transactions contemplated
            hereby or have a material adverse effect on the ability of Seller, the Company
            and the Company Subsidiaries, as applicable, to perform their obligations under
            the Transaction Agreements, none of the Company or any of the Company
            Subsidiaries (i) has since December 31, 2019 received any written or, to the
            Knowledge of Seller, other communication from the Company or any Company
            Subsidiary regarding any actual or alleged violation of, or failure on the part
            of the Company or any Company Subsidiary to comply with, any Applicable Laws or
            order, injunction or decree of a Governmental Entity or (ii) to the Knowledge
            of Seller, is under investigation with respect to any material violation of any
            Applicable Laws or order, injunction or decree of a Governmental Entity other
            than any such item that has been cured or otherwise resolved to the
            satisfaction of such Governmental Entity.

      (b)        The Company and the Company Subsidiaries own, hold or
            possess all permits, licenses, approvals, authorizations, consents and
            registrations that are necessary for them to own or lease, operate and use
            their respective assets, rights or properties and to carry on and conduct their
            respective businesses as conducted on the date hereof (collectively, “Permits”),
            except as would not reasonably be expected to have, individually or in the
            aggregate, a Material Adverse Effect.  All such Permits are valid and in full
            force and effect and the Company and the Company Subsidiaries are in compliance
            with the requirements of all such Permits, in each case, except as would not
            reasonably be expected to have, individually or in the aggregate, a Material
            Adverse Effect or would not reasonably be expected to be materially adverse to
            the ability of Seller to consummate the transactions contemplated hereby by the
            Outside Date or have a material adverse effect on the ability of Seller, the
            Company and the Company Subsidiaries, as applicable, to perform their
            obligations under the Transaction Agreements.

      (c)        Except as would not
            reasonably be expected to have, individually or in the aggregate, a Material
            Adverse Effect, none of the Insurance Companies has, since December 31, 2019,
            received written notice of deficiencies or violations described in any reports
            of examination (including financial, market conduct and similar examinations)
            of any Insurance Company issued by any Insurance Regulator that have not been
            resolved to the reasonable satisfaction of the Insurance Regulator that noted
            such deficiencies or violations.

      Section 3.11     Litigation.  There are
            no Actions pending against the Company or the Company Subsidiaries that would
            reasonably be expected to be, individually or in the aggregate, material to the
            Company Business, taken as a whole.  There is no order of any Governmental
            Entity 

      
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      in effect or, to the Knowledge of Seller,
            threatened against the Company or any Company Subsidiaries that would
            reasonably be expected to be, individually or in the aggregate, material to the
            Company Business, taken as a whole.

      Section
            3.12     Brokers.  Seller is
            solely responsible for the payment of the fees and expenses of any broker,
            investment banker, financial adviser or other Person acting in a similar
            capacity in connection with the transactions contemplated by this Agreement
            based upon arrangements made by or on behalf of Seller, the Company or any of
            their respective Affiliates.

      Section 3.13     Sufficiency of Assets.
            The assets, rights and properties held by the Company and the Company
            Subsidiaries as of the completion of the Separation, when taken together with
            all of the other agreements entered into in connection with the Separation
            (including in respect of transition services), shall be sufficient for the
            conduct of the Company Business in all material respects. 

      Section 3.14     Employee Matters.

      (a)        Except as would not reasonably be expected to be material
            to the Company and the Company Subsidiaries, taken as a whole, neither the
            execution and delivery of this Agreement nor the consummation of the purchase
            of the Purchased Shares contemplated hereby will result in, cause the
            accelerated vesting, funding or delivery of, or increase the amount or value
            of, any payment or benefit to any current or former employee, trustee, director
            or consultant of the Company or any of the Company Subsidiaries, or result in
            any payment that could reasonably be construed, individually or in combination
            with any other such payment, to constitute an “excess parachute payment” under
            Section 280G of the Code.

      (b)        No portion of the
            assets in any account of any direct or indirect subsidiary of the Company
            administered by the Investment Manager pursuant to the SMA Agreements in the
            forms attached hereto as Schedule A of the Seller Disclosure
            Schedule (each,
            a “Covered Account” and collectively, the “Covered Accounts”)
            constitutes “plan assets” within the meaning of ERISA and the regulations
            promulgated thereunder of any plan subject to ERISA or Section 4975 of the Code
            (“Plan Assets”). 

      Section 3.15     Insurance Matters.  Except
            as has not had, and would not reasonably be expected to have, individually or
            in the aggregate, a Material Adverse Effect:

      (a)        Each reinsurance
            agreement to which the Company or any Company Subsidiary is a party and has any
            material existing rights or material obligations (each, a “Reinsurance
              Contract”) is a legal, valid and binding obligation of the Company or the
            applicable Company Subsidiary party thereto, and, to the Knowledge of Seller,
            each other party thereto, and is enforceable against the Company or the
            applicable Company Subsidiary party thereto, and, to the Knowledge of Seller,
            each other party thereto, in accordance with its terms, subject to the
            Enforceability Exceptions.

      (b)        Since December 31,
            2019, neither the Company nor the applicable Company Subsidiary, nor, to the
            Knowledge of Seller, any of the other parties to any Reinsurance Contract is in
            default or breach or has failed to perform any obligation under any such
            Reinsurance Contract.

       

      
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      (c)        There are no pending
            or, to the Knowledge of Seller, threatened Actions with respect to any
            Reinsurance Contract. 

      SECTION
            3.16     No Other Representation or Warranty.  Except for the
            representations and warranties expressly contained in this Article III,
            none of Seller, the Company or any other Person on behalf of Seller or the
            Company makes any express or implied representation or warranty with respect to
            Seller, the Company, the Company Business or otherwise, or with respect to any
            information provided to Buyer or its Affiliates or its or their Representatives
            in connection with this Agreement or the transactions contemplated hereby, and
            Buyer hereby disclaims any reliance on any representations and warranties,
            except for the representations and warranties expressly contained in this Article
              III.  None of Seller, the Company or any other Person will have or be
            subject to any liability to Buyer or its Affiliates or any other Person
            resulting from the distribution to Buyer or its Affiliates or its or their
            Representatives, the use by any of the foregoing of, any such information,
            including any information, documents, projections, forecasts or any other
            material made available to Buyer or its Affiliates or its or their
            Representatives in certain “data rooms” or management presentations in
            connection with any consideration and review of this Agreement or the
            transactions contemplated hereby, unless any such information is expressly
            subject to a representation or warranty contained in this Article III. 

      Article IV

            REPRESENTATIONS AND WARRANTIES
            OF BUYER

      Buyer
            represents and warrants to Seller as follows:

      Section 4.1       Organization and Standing.  Buyer is a limited liability company, duly organized, validly existing
            and in good standing under the laws of the State of Delaware.

      Section 4.2       Authority.  Buyer has
            the requisite corporate power and authority to enter into this Agreement and
            the other Transaction Agreements to which it is or will be a party and to
            consummate the transactions contemplated hereby and thereby.  The execution and
            delivery by each Buyer Party of this Agreement and the other Transaction
            Agreements to which it is or will be a party and the consummation by each Buyer
            Party of the transactions contemplated hereby and thereby have been and, with
            respect to the Transaction Agreements to be executed and delivered after the
            date of this Agreement, will be, duly authorized by all necessary corporate
            action on the part of such Buyer Party.  Each of this Agreement and the other
            Transaction Agreements to which a Buyer Party is or will be a party has been
            or, with respect to the Transaction Agreements to be executed and delivered
            after the date of this Agreement, will be, duly executed and delivered by such
            Buyer Party and, assuming this Agreement and such other Transaction Agreements
            constitute legal, valid and binding agreements of the other parties hereto and
            thereto, constitute legal, valid and binding obligations of such Buyer Party,
            enforceable against such Buyer Party in accordance with their terms, subject to
            the Enforceability Exceptions.

      Section 4.3       Noncontravention; Consents.  The execution and delivery by Buyer and each Buyer Party
            of this Agreement and the other Transaction Agreements by to which it is or
            will be a party, and the consummation of the transactions contemplated hereby
            and thereby by such Buyer Party will not (a) conflict with any of the
            provisions of the Organizational Documents of any Buyer Party, (b) subject to
            the matters referred to in the next sentence, conflict with, result in 

      
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      a breach of or default (with or without notice or lapse
            of time or both) under, give any contracting party the right to terminate,
            cancel or accelerate any payment under, or result in the creation of any Lien
            (other than a Permitted Lien) on any property, asset or right of any Buyer
            Party under, any material Contract to which any Buyer Party is a party or (c)
            subject to the matters referred to in the next sentence, contravene any
            Applicable Law, except, in the case of clauses (b) and (c) above, as (i) has
            not had and would not reasonably be expected to have, individually or in the
            aggregate, a Buyer Material Adverse Effect and (ii) would not reasonably be
            expected to have a material adverse effect on the ability of Buyer and the
            Buyer Parties, as applicable, to perform their obligations under the
            Transaction Agreements.  No consent, approval or authorization of, or
            declaration or filing with, or notice to, any third party or Governmental
            Entity is required by or with respect to any Buyer Party in connection with the
            execution and delivery of this Agreement and the other Transaction Agreements
            by the Buyer Parties or the consummation by the Buyer Parties of any of the
            transactions contemplated hereby and thereby, except (i) for the filing
            required under the HSR Act, (ii) for such other consents, approvals,
            authorizations, declarations, filings or notices that, if not obtained or made,
            would not reasonably be expected to have, individually or in the aggregate, a
            Buyer Material Adverse Effect and (iii) as has not had and would not reasonably
            be expected to have a material adverse effect on the ability of Buyer and the
            Buyer Parties, as applicable, to perform their obligations under the
            Transaction Agreements.  

      Section 4.4       Compliance with Applicable Law.  Buyer is in compliance with all Applicable Law, except
            as would not reasonably be expected to have, individually or in the aggregate,
            a Buyer Material Adverse Effect.  

      Section 4.5       Purchase Not for Distribution.  The Purchased Shares will be acquired by Buyer for its
            own account and not with a view to distribution.  Buyer will not resell,
            transfer, assign, pledge or otherwise dispose of any Purchased Shares, except
            in compliance with the registration requirements of the Securities Act of 1933,
            as amended (the “Securities Act”), and any applicable state securities
            laws, or pursuant to an available exemption therefrom.  Buyer (a) has made its
            own inquiry and investigation into, and, based thereon, has formed an
            independent judgment concerning, the Company, the Company Subsidiaries and the
            Company Business and (b) has been furnished with or given access to certain
            information about the Company, the Company Subsidiaries and the Company
            Business.

      Section 4.6       Litigation.   There
            are no Actions pending or, to the Knowledge of Buyer, threatened in writing
            against or affecting Buyer or, to the Knowledge of Buyer, any of its
            Affiliates, that (a) seek to restrain or enjoin the consummation of any of the
            transactions contemplated by this Agreement or (b) would reasonably be expected
            to have a Buyer Material Adverse Effect. There is no order of any Governmental
            Entity in effect or, to the Knowledge of Buyer, threatened against Buyer or, to
            the Knowledge of Buyer, any of its Affiliates, that would reasonably be
            expected to have, individually or in the aggregate, a Buyer Material Adverse
            Effect.

      Section 4.7       Sufficiency of Funds.  Buyer
            is a party to and has accepted a fully executed equity commitment letter, dated
            as of the date hereof (the “Equity Commitment Letter”), from Blackstone Holdings II
            L.P. (the “Equity Provider”)
            pursuant to which the
            Equity Provider has agreed, on the terms and subject to the conditions set
            forth in the Equity Commitment Letter, to invest in Buyer the amounts set forth
            therein.  Buyer has delivered to Seller a true, complete and correct copy of
            the executed Equity Commitment Letter.  As of the date hereof, the Equity 

      
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      Commitment Letter is in full force and effect and has not
            been amended, restated or otherwise modified or waived, and the commitments
            contained therein have not been withdrawn, modified or rescinded in any
            respect.  Assuming the conditions set forth in Section 6.1 and Section
              6.2 are satisfied at the Closing, Buyer will have at the Closing cash
            proceeds sufficient to pay the Purchase Price at the Closing.  The obligations
            of Buyer to effect the transactions contemplated by this Agreement are not
            conditioned upon the availability to Buyer or any of its Affiliates of any
            debt, equity or other financing in any amount whatsoever.  

      Section 4.8       Limited Guaranty.  Concurrently with the execution and delivery of
            this Agreement, Buyer has delivered to Seller the limited guaranty, dated as of
            the date hereof (the “Limited Guaranty”), addressed to Seller from the
            Equity Provider, guaranteeing certain obligations of Buyer under this Agreement
            on the terms set forth therein.  As of the date hereof, the Limited Guaranty is
            in full force and effect and constitutes a legal, valid and binding obligation
            of the Equity Provider, enforceable against the Equity Provider in accordance
            with its terms, subject to the Enforceability Exceptions.  

      Section 4.9       Brokers.  Buyer is
            solely responsible for the payment of the fees and expenses of any broker,
            investment banker, financial adviser or other Person acting in a similar
            capacity in connection with the transactions contemplated by this Agreement or
            any of the Transaction Agreements based upon arrangements made by or on behalf
            of Buyer or any of its Affiliates.

      Section 4.10     No Other Representation or Warranty.  Except for the representations and warranties expressly
            contained in this Article IV, none of Buyer or any other Person on
            behalf of Buyer makes any express or implied representation or warranty with
            respect to Buyer or otherwise, or with respect to any information provided to
            Seller, the Company or their Affiliates or their Representatives in connection
            with this Agreement or the transactions contemplated hereby, and Seller hereby
            disclaims any reliance on any representations and warranties, except for the
            representations and warranties expressly contained in this Article IV. 
            None of Buyer or any other Person will have or be subject to any liability to
            Seller, the Company or their Affiliates or any other Person resulting from the
            distribution to Seller, the Company or their Affiliates or their Representatives,
            the use by any of the foregoing of, any such information, including any
            information, documents, projections, forecasts or any other material made
            available to Seller, the Company or their Affiliates or their Representatives
            in certain “data rooms” or management presentations in connection with any
            consideration and review of this Agreement or the transactions contemplated
            hereby, unless any such information is expressly subject to a representation or
            warranty contained in this Article IV. 

      Article V

            COVENANTS

      Section
            5.1       Conduct of Business.

      (a)        Except (i) as required or expressly contemplated by this
            Agreement or the other Transaction Agreements, (ii) as required by Applicable
            Law, (iii) in connection with the Separation to the extent consistent with the
            Separation Principles, (iv) as reasonably required in response to COVID-19 or
            any actions of any Governmental Entity in response thereto, (v) as set forth in
          

       

      
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      Section 5.1 of
            the Seller Disclosure Schedule or (vi) as
            Buyer otherwise consents in advance in writing (which shall include email)
            (which consent shall not be unreasonably withheld, conditioned or delayed),
            from the date of this Agreement to the Closing, Seller shall cause the Company
            to, and to cause the Company Subsidiaries and the Company Business to, use
            reasonable best efforts to carry on the Company Business in all material
            respects in the ordinary course and, to the extent consistent therewith, to
            preserve intact and maintain its current business organizations and its
            material relationships with third parties (including Governmental Entities,
            insureds and others having business dealings with them).

      (b)        Except (i) as required or expressly contemplated by this
            Agreement or the other Transaction Agreements, (ii) as required by Applicable
            Law, (iii) in connection with the Separation to the extent consistent with the
            Separation Principles, (iv) as reasonably required in response to COVID-19 or
            any actions of any Governmental Entity in response thereto, (v) as set forth in
            Section 5.1 of the Seller Disclosure Schedule or (vi) as Buyer otherwise
            consents in advance in writing (which shall include email) (which consent shall
            not be unreasonably withheld, conditioned or delayed), from the date of this
            Agreement to the Closing, Seller shall cause the Company, the Company
            Subsidiaries and the Company Business not to:

      (i)         (A) split, combine or reclassify any of the Company’s outstanding
            capital stock or equity securities or issue or authorize the issuance of any
            other stock or securities (including any derivatives securities) in respect of,
            in lieu of or in substitution for shares or other interests representing any of
            the Company’s outstanding capital stock or equity securities, (B) purchase,
            redeem or otherwise acquire any outstanding capital stock or equity securities
            of the Company or (C) consummate or adopt or enter into a plan of complete or
            partial liquidation, dissolution, merger, consolidation, restructuring,
            recapitalization, business combination or other reorganization of the Company
            or any of the Company Subsidiaries that are material to the Company
            Business;

      (ii)        issue, sell, convey, transfer, dispose of, pledge, grant
            any option, warrant or right to purchase or subscribe to or otherwise encumber
            any capital stock of or equity interests in the Company, or issue, sell, grant
            or enter into any subscription, warrant, option, conversion or other right,
            agreement, commitment, arrangement or understanding of any kind, contingent or
            otherwise, to purchase or otherwise acquire, any such capital stock or equity
            interests, or any securities convertible into or exchangeable for any such
            capital stock or equity interests; 

      (iii)       (A) amend the Company’s Organizational Documents or (B)
            amend (in any material respect) the Organizational Documents of any of Company
            Subsidiary that is material to the Company Business, in each case, in a manner
            that would disproportionately adversely affect the rights or obligations of
            Buyer, in its capacity as a holder of New Common Stock, relative to Seller, in
            its capacity as a holder of New Common Stock, in each case as if the Closing
            had occurred prior to such amendment;

      (iv)       declare, set a record date or set aside or pay any
            dividends on, or make any other distributions (whether in cash, stock or
            property) in respect of, the outstanding capital stock of or equity interests
            in the Company or otherwise transfer or make payments in respect of equity
            interests in the Company, except for (A) dividends or distributions in an 

       

      
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      amount equal
            to Adjusted After Tax Income with respect to
            the period between March 31, 2021 and Closing (subject to any regulatory
            requirements) declared prior to the Closing and (B) as set forth on Item 1 of Section 5.1(b)(iv)  of the Seller Disclosure
            Schedule (the “AH Distribution”) (in each case, so long as the
            aggregate
            impact of the distributions set forth in clauses (A) and (B) are reflected in
            the calculation of Interim Adjusted Book Value and Final Adjusted Book Value in
            accordance with the Calculation Methodologies);

      (v)        other than (x) with respect to the Separation Documentation
            (which shall be governed by the terms of the Separation Principles), (y) any modification,
            amendment, or termination of, or entry into, any Affiliate Contract that is on
            arm’s length terms, fair and reasonable to the Company Business in all material
            respects or in the ordinary course of business consistent with historical
            practice, or (z) any modification, amendment or termination of, or entry into,
            any Affiliate Contract in connection with the Separation in accordance with the
            Separation Documentation, (A) modify, amend (in any material respect) or
            terminate (other than, as a result of the expiration of the term thereof) any
            Affiliate Contract, or waive, release or assign any material rights or claims
            thereunder or (B) enter into any Affiliate Contract, in each of cases (A) and
            (B), on terms that are adverse in any material respect to Buyer;

      (vi)       other than with respect to any Insurance Company or
            operating indebtedness (i.e., guaranteed investment contracts, FHLB short-term
            financings and other ordinary course operating indebtedness) incurred in the
            ordinary course of business consistent with past practice, incur, assume,
            guarantee, refinance, be allocated or become obligated with respect to any
            third-party indebtedness (including by issuance of debt securities of the
            Company or any Company Subsidiary), except as permitted pursuant to (and which
            shall be taken into account for purposes of) the Separation Principles, in each
            case, so long as such third-party indebtedness is reflected in full in the
            calculation of Final Adjusted Book Value;

      (vii)      (A) repay, forgive or otherwise cancel any intercompany
            indebtedness or payables between the Company or any Company Subsidiary (or
            otherwise with respect to the Company Business), on the one hand, and Seller or
            any of its Subsidiaries, on the other hand, (B) loan any amounts to Seller or
            its Subsidiaries (other than the Company and the Company Subsidiaries) or (C)
            incur any indebtedness or payables to Seller or its Subsidiaries (other than
            the Company and the Company Subsidiaries), in each case, other than (x)
            repayments of intercompany indebtedness and payables to Seller and its
            Subsidiaries in the ordinary course of business of business consistent with
            past practice (which repayments are not subject to limitation), (y) the
            incurrence of ordinary course intercompany indebtedness or payables consistent
            with historical practice, on terms (including with respect to interest rates)
            consistent with historical practice with respect to existing ordinary course
            intercompany indebtedness), (z) as permitted pursuant to (and which shall be
            taken into account for purposes of) the Separation Principles, in each case, so
            long as the aggregate amount of such intercompany indebtedness and payables and
            repayments are reflected in full in the calculation of Final Adjusted Book
            Value;

       

      
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      (viii)     enter into any new
            material line of business that would subject Buyer or its Affiliates to
            obligations under the Bank Holding Company Act of 1956, as amended, or any
            other Applicable Law that governs banking or similar entities; or

      (ix)       enter into a binding agreement to take or commit to take
            any of the foregoing actions.

      Section 5.2       Access to Information. 
            From the date of this Agreement through the earlier of the Closing and such
            time as this Agreement is terminated in accordance with Article VIII,
            Seller shall cause the Company and the Company Subsidiaries to provide, solely
            in furtherance of the transactions contemplated by this Agreement and the other
            Transaction Agreements, Buyer and its Representatives with, upon reasonable
            advance notice and during regular business hours, reasonable access to the
            offices, properties, assets, books, Contracts, insurance policies and business,
            regulatory, financial and other records, and management and Representatives of
            the Company, as Buyer may request from time to time; provided  that any
            such access pursuant to this Section 5.2 shall be conducted in
            accordance with Applicable Law, under the supervision of Seller’s personnel and
            in such a manner as to not to unreasonably interfere with the normal operations
            of the Company and the Company Subsidiaries.  The foregoing notwithstanding,
            Seller shall not be required to cause the Company or the Company Subsidiaries
            to provide such access if it would unreasonably disrupt the operations of
            Seller or its Subsidiaries (including the Company and the Company
            Subsidiaries), would cause a violation of any Contract, would, in the
            reasonable judgment of Seller or the Company, result in a loss of privilege or
            trade secret protection or would constitute a violation of any Applicable Law,
            and in any such event, the parties shall use commercially reasonable efforts to
            make appropriate substitute arrangements in a manner that does not result in
            such loss or violation.  In addition, to the extent that Seller undertake and
            completes an appraisal of the assets of the Company or the Company Subsidiaries
            prior to the Closing, Seller shall promptly deliver a copy of such appraisal to
            Buyer and provide Buyer with access to such reasonable and supporting
            information underlying such appraisal, including any third-party provider
            involved in its preparation, as may be reasonably requested by Buyer.

      Section 5.3       Reasonable Best Efforts. 
            Upon the terms and subject to the conditions and other agreements set forth in
            this Agreement, other than with respect to obtaining permits, orders or other
            consents, approvals or authorizations of Governmental Entities (which shall be
            exclusively governed by Section 5.4), each party agrees to use its
            reasonable best efforts to take, or cause to be taken, all actions, and to do,
            or cause to be done, and to assist and cooperate with the other party in doing,
            all things necessary, proper or advisable to consummate and make effective, in
            the most expeditious manner practicable, the transactions contemplated by this
            Agreement and the other Transaction Agreements.

      Section
            5.4       Consents, Approvals and Filings.

      (a)        Each of Seller and Buyer shall use, and shall cause their
            respective Affiliates to use, their respective reasonable best efforts, and
            shall cooperate, and shall cause their respective Affiliates to cooperate,
            fully with each other, in each case to (i) comply as promptly as
            practicable with all requirements of Governmental Entities applicable to the
            transactions contemplated by this Agreement and the other Transaction
            Agreements and (ii) obtain as promptly as practicable all necessary permits,
            orders or other consents, approvals or authorizations of Governmental Entities 

       

      
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      in connection
            with the consummation of the transactions
            contemplated by this Agreement and the other Transaction Agreements; provided,
            that each party shall be responsible for all fees and costs related to its own
            required filings with and approvals of other Governmental Entities.  In
            connection with the foregoing, each of Seller and Buyer shall, and shall cause
            their respective Affiliates to, make all legally required filings with, and
            requests for approval by, all applicable Governmental Entities (including
            insurance regulators) as promptly as practicable after the date hereof in order
            to facilitate prompt consummation of the transactions contemplated by this
            Agreement, including filing the notification and report form required under the
            HSR Act within fifteen (15) Business Days after the date hereof, and to use
            reasonable best efforts to take all steps that are necessary, proper or
            advisable to avoid any Action by any Governmental Entity with respect to the
            transactions contemplated by this Agreement.

      (b)        In connection with the foregoing, each of Seller and Buyer
            shall, and shall cause their respective Affiliates to, consent and commit to
            any condition, limitation or qualification imposed by any Governmental Entity
            on its grant of any such permit, order, consent, approval or authorization; provided,
            that notwithstanding the foregoing or anything to the contrary in this
            Agreement (including Section 5.3 and this Section 5.4) or any
            other Transaction Agreement, (i) neither Seller nor or any of its Affiliates
            shall be required to agree, consent or commit to any such conditions, limitations
            or qualifications in respect of Seller or any of its Affiliates, or any
            businesses, operations, assets or liabilities thereof, other than the Company
            and the Company Subsidiaries, (ii) none of Seller, Buyer or any of their
            respective Affiliates shall be required to consent to or comply with any such
            conditions, limitations or qualifications that (A) are not conditioned upon
            (and effective only after) the Closing, (B) individually or in the aggregate,
            would reasonably be expected to have a material adverse effect on the Company
            Business, taken as a whole, or (C) would impose any requirement on Buyer or any
            of its Affiliates relating to the contribution of capital, keep well or capital
            maintenance arrangements or maintaining certain risk based capital levels of
            the Insurance Companies, (iii) neither Buyer nor any of its Affiliates shall be
            required to agree, consent or commit to any such conditions, limitations or
            qualifications with respect to any of Buyer’s Affiliates (including, for these
            purposes, The Blackstone Group Inc. (“Blackstone”) and its
            Subsidiaries
            and any investment funds or investment vehicles affiliated with, or managed or
            advised by, Blackstone or any portfolio company (as such term is commonly
            understood in the private equity industry) or investment of Blackstone or of
            any such investment fund or investment vehicle), or any interest therein, other
            than, subject to the foregoing clause (C), with respect to the Company, the
            Company Subsidiaries and the Company Business, any such Person’s direct or
            indirect investment in or ownership of any interest in the foregoing, or this
            Agreement, the other Transaction Agreements or the transactions contemplated
            hereby or thereby; provided, that prior to Buyer or its
            Affiliates
            agreeing to any condition, limitation or qualification required pursuant to
            this Section 5.4, Buyer shall be entitled to engage in good
            faith
            discussions with the applicable Governmental Entity to seek to resolve any
            requests or objections, so long as such discussions would not reasonably be
            expected to prevent the consummation of the transactions contemplated hereby by
            the Outside Date.  In no event shall the either party propose, negotiate,
            effect or agree to any action contemplated above without the prior written
            consent of the other party.  

      (c)        Buyer and Seller shall cooperate and consult with each
            other in connection with the making of all filings, notifications,
            communications, submissions, and any other actions pursuant to this Section
              5.4 in connection with all necessary permits, orders or other consents,
            approvals or 

       

      
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      authorizations
            of Governmental Entities in connection with
            the consummation of the transactions contemplated by this Agreement, and, to
            the extent not prohibited by Applicable Law, Buyer and Seller shall each keep
            the other apprised on a reasonably current basis of the status of in connection
            with all necessary permits, orders or other consents, approvals or
            authorizations of Governmental Entities in connection with the consummation of
            the transactions contemplated by this Agreement, including promptly furnishing
            the other with copies of substantive communications received by Buyer and
            Seller, as the case may be, or any of their respective Affiliates, from any
            Governmental Entity with respect to any such permits, orders or other consents,
            approvals or authorizations of Governmental Entities.  Subject to Applicable
            Law relating to the exchange of information, Buyer and Seller shall permit
            counsel for the other party a reasonable opportunity to review in advance, and
            consider in good faith the views of the other party in connection with, any
            proposed notifications or filings and any written communications or submissions
            to any Governmental Entity in connection with all necessary permits, orders or
            other consents, approvals or authorizations of Governmental Entities in
            connection with the consummation of the transactions contemplated by this
            Agreement; provided  that Buyer and Seller may, as each deems
            advisable
            and necessary, redact such materials to remove sensitive information, or
            reasonably designate any sensitive material provided to the other party under this
            Agreement as “outside counsel only.”

      (d)       Prior to the Closing, except as otherwise agreed by the parties,
            the parties shall cooperate and use reasonable best efforts to make or obtain
            the approval, authorization, consent, license or permission of, or waiver or
            other action by, or notification to, any third party (other than a Governmental
            Entity or an Affiliate of Seller, the Company or Buyer) required for the
            consummation of the transactions contemplated by this Agreement and the other
            Transaction Agreements; provided  that no party shall be
            required to
            make any payment or incur any liability or offer or grant any accommodation
            (financial or otherwise) or commence or participate in any Action in order to
            obtain such third-party consents.

      (e)        Buyer shall not be required to (i) provide (A) nonpublic or
            other financial or sensitive personally identifiable information of the Equity
            Provider, its respective affiliates and their respective directors, officers,
            employees, managers or partners, or its or their control persons or direct or
            indirect equityholders and their respective directors, officers, employees,
            managers or partners (collectively with the Equity Provider, the “Equity
            Provider Related Persons”) or (B) any other nonpublic, proprietary or other
            confidential information of an Equity Provider Related Person that exceeds the
            scope of information that such Equity Provider Related Person has historically
            supplied in connection with a similar governmental filing or notification, or
            (ii) disclose the identities of direct or indirect shareholders, members or
            beneficiaries of the Equity Provider or its affiliates that beneficially own
            less than 10% of any such entity, in each of cases (i) or (ii), (x) unless the
            failure to provide or disclose such information would reasonably be expected to
            (1) impede the Closing or (2) prevent the consummation of the transactions
            contemplated hereby by the Outside Date, in which case Buyer shall be required
            to provide or disclose such information and (y) except for National Association
            of Insurance Commissioners biographical information.  Without limiting the
            foregoing, Buyer (A) shall be entitled to enter into good-faith discussions
            with the applicable Governmental Entity and use reasonable best efforts to seek
            to promptly resolve such requests prior to providing such information and (B)
            may provide any such sensitive or confidential information directly to the
            applicable Governmental Entity requesting such information without being provided
            to the Seller or the Company to the extent permitted by the applicable
            Governmental Entity.  Without limiting the obligations of Buyer pursuant to
            this 

       

      
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      Section 5.4, all
            appearances, submissions, presentations, briefs, and proposals made or
            submitted by or on behalf of the Equity Provider Related Persons before any
            Governmental Entity shall be controlled by Buyer.

      Section 5.5       Public Announcements. 
            Each of Buyer and Seller shall, and shall cause their respective Affiliates to,
            consult with the other party before issuing, and provide the other party with
            the opportunity to review and comment upon, any press release or other public
            statement with respect to this Agreement or the transactions contemplated
            hereby, and shall not issue any such press release or make any such public
            statement with respect to such matters unless the other party consents in
            advance in writing (which shall include email) (which consent shall not be
            unreasonably withheld, conditioned or delayed), except as may be required by
            Applicable Law or by the requirements of any securities exchange; provided 
            that, to the extent not prohibited by Applicable Law or the requirements of any
            such securities exchange and to the extent reasonably practicable, the
            disclosing party under this exception shall provide the non-disclosing party a
            reasonable opportunity to review any such disclosure; provided, however,
            that the foregoing shall not apply to any press release or other public
            statement to the extent the statements therein with respect to this Agreement
            or the transactions contemplated hereby are consistent in all material respects
            with statements previously issued in compliance with this Section 5.5. 

      Section 5.6       Further Assurances. 
            Each of Seller and Buyer shall execute and deliver, or shall cause to be
            executed and delivered, such documents, certificates, agreements and other
            writings and shall take, or shall cause to be taken, such further actions, in
            each case as may be reasonably requested by any other party to carry out the
            provisions of this Agreement.

      Section 5.7       Company
              Financing.  Buyer agrees that, in the
            event that, at any time before or after the Closing, the Company offers for
            sale in a private or public offering of securities (the “Hybrid Securities
              Offering”) subordinated debt securities (the “Hybrid Securities”),
            then Buyer shall (a) consider in good faith purchasing, or causing to be
            purchased, at least $250,000,000 aggregate principal amount of Hybrid
            Securities in or concurrently with the Hybrid Securities Offering, on the same
            terms and conditions as such Hybrid Securities are issued and sold to other
            investors in the Hybrid Securities Offering; provided, that any such
            purchase by Buyer shall require the mutual agreement of Buyer and the Company,
            and (b) use good faith efforts to assist the Company with the offering and sale
            of the Hybrid Securities in the Hybrid Securities Offering; provided 
            that such good faith efforts shall not require, or be construed to require,
            Buyer or its Affiliate to purchase any such Hybrid Securities in such Hybrid
            Securities Offering.

      Section 5.8       Stockholders Agreement. 
            Prior to the Closing, Seller and Buyer shall negotiate in good faith the form
            of a definitive stockholders agreement (the “Stockholders Agreement”),
            by and among the Company, Seller and Buyer, having the terms set forth in Section 5.8  of the Seller Disclosure Schedule; provided,
            that, until such time as such definitive form is completed, executed and delivered
            by the parties, the terms set forth in Section 5.8 
            of the Seller Disclosure Schedule shall control and be binding upon the
            Company, Seller and Buyer from and after the Closing, and references in this
            Agreement to the “Stockholders Agreement” shall be deemed to be references to
            such binding terms. 

      

      
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      Section 5.9       Separation.

      (a)       As promptly as practicable after the date hereof, the Seller and
            the Company shall take certain actions to effect the Separation in accordance
            with the separation principles set forth in Section 5.9 
            of the Seller Disclosure Schedule hereto (the “Separation Principles”). 
            From and after the date hereof, Seller shall use commercially reasonable
            efforts to, and shall cause the Company and the Company Subsidiaries to use
            commercially reasonable efforts to, take all actions and do all things
            necessary, proper and advisable, subject to the requirements of Applicable Law
            and of any Governmental Entity, to prepare, execute and perform the separation
            agreement and other customary agreements for a separation on terms consistent
            with the Separation Principles (such agreements and other documentation, the “Separation
              Documentation”). 

      (b)        Seller shall provide drafts of the Separation Documentation
            to be filed with the SEC (including related exhibits and schedules) and other
            Separation Documentation reasonably requested by Buyer, in each case,
            reasonably in advance of the filing of forms of such Separation Documentation
            with the SEC or finalizing such other Separation Documentation and drafts of
            any separation steps memorandum or similar planning information regarding the
            Separation (the “Separation Materials”) and shall make its
            applicable
            Representatives available to Buyer’s Representatives a reasonable number of
            times upon reasonable prior notice (and during normal business hours) for
            purposes of discussing the draft Separation Documentation and Separation
            Materials and shall consider in good faith any comments of Buyer’s
            Representatives to such documents provided promptly following Buyer’s receipt
            thereof.  Seller shall keep Buyer apprised on a reasonably timely basis of the
            status of the Separation.  The Separation Documentation shall be (i) in form
            and substance consistent with the Separation Principles and (ii) negotiated and
            implemented in good faith. 

      (c)        The parties agree that, in connection with the Separation
            and the transactions contemplated by the SMA Agreements, Seller or one or more
            of its Subsidiaries (including the Company and the Company Subsidiaries) may
            transfer to Buyer or its Affiliates certain investment personnel that provide
            investment management services to the Company, provided  that
            any such
            transfer shall require the mutual agreement of Seller or the Company, on the
            one hand, and Buyer, on the other hand (in each case, in its sole discretion).

      (d)       Notwithstanding anything to the contrary herein, (i) Buyer
            acknowledges that the Separation is not expected to be completed prior to the
            Closing and the execution and performance of agreements and other documentation
            and taking of other actions required to effect the separation may not occur
            until after the Closing and (ii) the parties agree that the completion of the
            Separation or any part thereof is not a condition to the obligations of either
            party to effect the Closing (it being understood that the Company shall comply
            with its obligations relating to the Separation hereunder).

      Section 5.10     Plan Assets. Prior to
            the Closing, Seller shall not allow, and shall cause the Company and the
            Company Subsidiaries to not allow, any portion of any assets in any Covered Account to constitute Plan
            Assets.    Prior to the Closing, Seller
            shall promptly notify Buyer in writing if Seller (or any of its Affiliates)
            becomes aware that there is a reasonable
            likelihood that any of the Covered Accounts’
            assets constitute Plan Assets, which notice shall identify the applicable
            Covered Account(s).  Seller and the Company
            shall use commercially reasonable efforts 

      
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      to remediate
            any Plan Asset Issue as soon as reasonably as practicable following the date a
            Plan Asset Issue is identified or notified to the Company.  The parties
            expressly agree that compliance with this covenant shall not be a condition to
            Closing, and the presence of a Plan Asset Issue shall not be a basis not to
            consummate the Closing.  

      Section 5.11     Corporate Governance.

      (a)        Prior to the Closing, Seller shall take all actions necessary to
            cause the Board as of the Closing to be comprised of eleven (11) directors,
            consisting of nine (9) directors designated by Seller, one (1) director
            designated by Buyer and the Chief Executive Officer of the Company as of
            immediately prior to the Closing.

      (b)        Prior to the Closing, Seller shall take all
            actions necessary to cause the Board as of immediately following the Closing to
            have an audit committee.  The director designated by Buyer shall be entitled to
            serve on all committees of the Board, subject to eligibility requirements under
            Applicable Law, in accordance with the Stockholders Agreement.

      Section
            5.12     Tax Matters.

      (a)        In connection with
            the sale of the Purchased Shares
            contemplated by this Agreement, any other applicable transfer of equity of the
            Company, including any such transfer by Seller, or any transaction that causes
            the Company to cease to be a member of the affiliated group of which Seller is
            the common parent for U.S. federal income tax purposes, Seller agrees to make a
            valid and timely election under Treasury Regulations Section
            1.1502-36(d)(6)(i)(A) to elect to reduce its basis in Company shares to the
            extent necessary to avoid attribute reduction under Treasury Regulations
            Section 1.1502-36(d) and Seller also agrees not to make any election to
            reattribute attributes under Treasury Regulations Sections
            1.1502-36(d)(6)(i)(B) or (C).

      (b)        Until
            the date upon which the Company is no longer a member of the affiliated group
            of which Seller is the common parent for U.S. federal income tax purposes, the
            Company and the Company Subsidiaries shall be permitted to consummate
            transactions that accelerate taxable income up to an amount that does not
            materially exceed the amount of taxable income needed for Seller to utilize
            existing foreign tax credits.

      Section 5.13     SMA Cooperation.  Prior to the Closing, Seller shall use commercially
            reasonable efforts to cause the Existing AUM (as defined in the SMA Agreements)
            to equal $50,000,000,000 in accordance with the terms of the SMA Commitment
            Letter in the aggregate; provided, that it shall not be a condition to
            the closing of the transactions contemplated by this Agreement that the
            Existing AUM shall equal or exceed such amount.  Prior to the Closing, Buyer
            and Seller shall, Seller shall cause the Company and the Company Subsidiaries
            to, cooperate in good faith in connection with preparing for the appointment of
            the Investment Manager under, and successfully implementing the arrangements
            contemplated by, the SMA Agreements.

       

      
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      Article VI

            CONDITIONS PRECEDENT

      Section 6.1       Conditions to Each Party’s Obligations.  The obligations of Buyer and Seller to consummate the
            transactions contemplated hereby shall be subject to the satisfaction or waiver
            in writing at or prior to the Closing of the following conditions:

      (a)        Approvals.  The
            waiting period (and any extension thereof) applicable to the transactions
            contemplated hereby under the HSR Act shall have been terminated or shall have
            otherwise expired.

      (b)        No Injunctions or Restraints.  No order, injunction or other order issued by any court
            of competent jurisdiction and no law, statute, rule or regulation of any
            Governmental Entity preventing or making illegal the consummation of the
            transactions contemplated hereby or the transactions contemplated by the
            Specified Transaction Agreements shall be in effect.

      Section 6.2       Conditions to Obligations of Buyer.  The obligations of Buyer to consummate the transactions
            contemplated hereby shall be subject to the satisfaction or waiver by Buyer in
            writing at or prior to the Closing of the following additional conditions:

      (a)        Representations and Warranties.  The representations and warranties of Seller set forth
            in Section 3.8(a) shall be true and correct in all respects as
            of the
            Closing Date as though made as of the Closing Date.  Other than the
            representations and warranties of Seller set forth in Section 3.8(a) and
            the Seller Fundamental Representations, the representations and warranties of
            Seller set forth in this Agreement shall be true and correct, without giving
            effect to any qualification set forth therein as to “materiality,” “Material
            Adverse Effect” or similar qualifications, as of the Closing Date as though
            made as of the Closing Date (except to the extent any such representation and
            warranty is made as of an earlier date, in which case as of such earlier date),
            except where the failure of all such representations and warranties to be so
            true and correct has not had and would not reasonably be expected to have,
            individually or in the aggregate, a Material Adverse Effect.  Other than the
            representations and warranties of Seller set forth in Section 3.2(a),
            the Seller Fundamental Representations shall be true and correct in all
            material respects, and the representations and warranties of Seller set forth
            in Section 3.2(a) shall be true and correct in all respects
            except for de
              minimis inaccuracies, in each case, as of the Closing Date as though made
            as of the Closing Date (except to the extent any such representation and
            warranty is made as of an earlier date, in which case as of such date).

      (b)        Performance of Obligations of Seller.  Seller shall have performed and complied in all material
            respects with the obligations and covenants required to be performed or
            complied with by it under this Agreement on or prior to the Closing. 

      (c)        Closing Certificate. 
            Seller shall have delivered to Buyer a certificate duly executed by an
            authorized officer of Seller, dated as of the Closing Date, certifying on
            behalf of Seller as to Seller’s compliance with the conditions set forth in Section
              6.2(a) and Section 6.2(b). 

        
       

       

      
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      (d)       SMA Arrangements.  The SMA Agreements and the SMA Commitment Letter shall
            have been executed and delivered in the forms attached hereto as Schedule A
            of the Seller Disclosure Schedule and shall be in full force and effect such
            that the SMA Agreements and the SMA Commitment Letter shall be effective at and
            following the Closing.

      Section 6.3       Conditions to Obligations of Seller.  The obligations of Seller to consummate the transactions
            contemplated hereby shall be subject to the satisfaction or waiver by such
            Seller in writing at or prior to the Closing of the following additional
            conditions:

      (a)        Representations and Warranties.  The representations and warranties of Buyer set forth in
            this Agreement shall be true and correct, without giving effect to any
            qualification set forth therein as to “materiality,” “Buyer Material Adverse
            Effect” or similar qualifications, in all material respects as of the Closing
            Date as though made and as of the Closing Date (except to the extent any such
            representation and warranty is made as of an earlier date, in which case as of
            such date). 

      (b)        Performance of Obligations of Buyer.  Buyer shall have performed and complied in all material
            respects with the obligations and covenants required to be performed or
            complied with by it under this Agreement on or prior to the Closing.

      (c)        Closing Certificate. 
            Buyer shall have delivered to Seller a certificate duly executed by an
            authorized officer of Buyer, dated as of the Closing Date, certifying on behalf
            of Buyer as to Buyer’s compliance with the conditions set forth in Section
              6.3(a) and Section 6.3(b). 

      Article VII

            SURVIVAL; INDEMNIFICATION

      Section 7.1       Survival.  The representations, warranties, covenants and agreements of the
            parties hereto contained in or made pursuant to  this
            Agreement shall survive in full force and effect until the date
            that is twelve (12) months after the Closing Date, at which time they shall
            terminate (and no claims shall be made for indemnification under Section 7.2
            or Section 7.3 thereafter),
            except: (a) the Seller Fundamental
            Representations shall each survive in full force and effect until the date that
            is six (6) years after the Closing Date, (b) the representations and
            warranties made in Section 3.13 
            shall survive in full force and effect until the three (3)-month anniversary of
            the IPO, and (c) the covenants and agreements that by their terms apply or
            are to be performed in whole or in part after the Closing (including those
            relating to the Separation) shall survive in full force and effect to the
            extent they so apply or are to be performed after the Closing.

      Section 7.2       Indemnification by Seller.

      (a)        After the Closing and
            subject to this Article VII, Seller shall indemnify, defend
            and hold
            harmless the Buyer Indemnitees against, and reimburse the Buyer Indemnitees
            for, all Liabilities that the Buyer Indemnitees may at any time suffer or
            incur, or become subject to:

      (i)         as
            a result of or in connection with the breach or
            inaccuracy of any representation or warranty set forth in Article III or
            contained in any certificate or instrument delivered by Seller pursuant hereto
            (other than the representations and warranties of Seller set forth in Section 3.14(b)); 

      

      
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      (ii)        as
            a result of or in connection with the breach or inaccuracy of the
            representations and warranties of Seller set forth in Section 3.14(b)  or contained in any
            certificate or instrument delivered by Seller pursuant hereto; or

      (iii)       as a result of or in
            connection with any breach or failure by any of Seller to perform any of its
            covenants, agreements or obligations contained in this Agreement.

      (b)        Notwithstanding
            anything to the contrary contained herein, Seller shall not be required to
            indemnify, defend or hold harmless the Buyer Indemnitees against, or reimburse
            the Buyer Indemnitees for, any Liabilities pursuant to Section 7.2(a)(i):
            (i) until the aggregate amount of the Buyer Indemnitees’ Liabilities for
            which the Buyer Indemnitees are finally determined to be otherwise entitled to
            indemnification under Section 7.2(a)(i) exceeds $100,000,000
            (the “Deductible),
            after which Seller shall be obligated for all the Buyer Indemnitees’ Liabilities
            for which the Buyer Indemnitees are finally determined to be otherwise entitled
            to indemnification under Section 7.2(a)(i) (but only
            Liabilities in
            excess of the Deductible) and (ii) in a cumulative aggregate amount with
            respect to indemnification under Section 7.2(a)(i) (other than
            with
            respect to Seller Fundamental Representations) exceeding $220,000,000 (the “Indemnification
              Cap).  For purposes of determining whether the threshold set forth in
            clause (ii) of this Section 7.2(b) 
            has been met or exceeded, any amount paid by Seller or any of its Affiliates
            (other than the Company and the Company Subsidiaries) for Liabilities pursuant
            to Section 7.2(a)(i)  only shall be
            taken into account. The foregoing limitations in this Section 7.2(b)
            shall not apply to any claim arising under Section 7.2(a)(ii) 
            or Section 7.2(a)(iii) or any claim arising from the Fraud of
            Seller and
            the limitation in Section 7.2(b)(ii) shall not apply to Seller
            Fundamental Representations.

      (c)        Seller shall not be
            required to indemnify, defend or hold harmless the Buyer Indemnitees against,
            or reimburse the Buyer Indemnitees for, any Liabilities pursuant to Section
              7.2(a)(i)  or Section 7.2(a)(ii) 
            in a cumulative aggregate amount exceeding the Purchase Price.  The foregoing
            limitation in this Section 7.2(c) shall not apply to any claim
            arising
            under Section 7.2(a)(iii)  or any
            claim from the Fraud of Seller.

      (d)       The representations, warranties, covenants, agreements and
            obligations of Seller and any Buyer Indemnitee’s right to indemnification with
            respect thereto shall not be affected or deemed waived by reason of
            (i) any investigation made by or on behalf of Buyer Indemnitees (including
            by any of their respective Representatives) or by reason of the fact that such
            Buyer Indemnitee or any of such Representatives knew or should have known that
            any such representation or warranty is, was or might be inaccurate,
            (ii) the waiver of any condition based on the accuracy of any
            representation or warranty, or on the performance of or compliance with any
            covenant, agreement or obligation or (iii) the Closing.

      Section
            7.3       Indemnification by Buyer.   

      (a)        After the Closing and subject to this
          Article VII, Buyer shall indemnify, defend and hold harmless the Seller Indemnitees
            against, and reimburse the Seller Indemnitees for, all Liabilities  that the Seller Indemnitees may at any time
            suffer or incur, or become subject to:

      

      
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      (i)         as
            a result of or in connection with the breach or inaccuracy of any
            representation or warranty set forth in Article IV or
            contained in any
            certificate or instrument delivered by Buyer pursuant hereto; or

      (ii)        as a result of or in connection with any breach or failure
            by Buyer to perform any of its covenants, agreements or obligations contained
            in this Agreement.

      (b)        Notwithstanding
            anything to the contrary contained herein, Buyer shall not be required to
            indemnify, defend or hold harmless the Seller Indemnitees against, or reimburse
            the Seller Indemnitees for, any Liabilities pursuant to Section 7.3(a)(i):
            (i) until the aggregate amount of the Seller 
            Indemnitees’ Liabilities for which the Seller
            Indemnitees are finally determined to be otherwise entitled to
            indemnification under Section 7.3(a)(i) exceeds the
            Deductible, after
            which Buyer shall be obligated for all the Seller
            Indemnitees’ Liabilities for which the Seller Indemnitees are finally determined to be otherwise entitled
            to indemnification under Section 7.3(a)(i) (but only
            Liabilities in
            excess of the Deductible) and (ii) in a cumulative aggregate amount with
            respect to indemnification under Section 7.3(a)(i) exceeding
            the
            Indemnification Cap.  The foregoing
            limitation in this Section 7.3(b) shall not apply to any claim
            arising
            under Section 7.3(a)(ii)  or any
            claim arising from the Fraud of the Buyer.

      (c)        The Buyer shall not be
            required to indemnify, defend or hold harmless the Seller Indemnitees against,
            or reimburse the Seller Indemnitees for, any Liabilities pursuant to Section
              7.3(a)(i) in a cumulative aggregate amount exceeding the Purchase Price. 
            The foregoing limitation in this Section 7.3(c) shall not
            apply to any
            claim arising from the Fraud of the Buyer.

      (d)       The representations, warranties, covenants, agreements and
            obligations of Buyer and any Seller 
            Indemnitee’s right to indemnification with respect thereto shall not be
            affected or deemed waived by reason of (i) any investigation made by or on
            behalf of Seller Indemnitees (including by any of their respective
            Representatives) or by reason of the fact that such Seller Indemnitee or any of
            such Representatives knew or should have known that any such representation or
            warranty is, was or might be inaccurate, (ii) the waiver of any condition
            based on the accuracy of any representation or warranty, or on the performance
            of or compliance with any covenant, agreement or obligation or (iii) the
            Closing.

      Section 7.4       Claims Procedure.

      (a)        If any Person entitled
            to be indemnified under this Article VII (an “Indemnified Party”)
            becomes aware of any fact, matter or circumstance that may give rise to a claim
            for indemnification under this Article VII, the Indemnified
            Party shall
            promptly notify the party providing indemnification under this Article VII
            (the “Indemnifying Party”) in writing of any claim in respect
            of which
            indemnity may be sought under this Article VII, including any
            pending or
            threatened claim or demand made in writing by a non-affiliated third party that
            the Indemnified Party has determined has given or could reasonably give rise to
            a right of indemnification under this Agreement (including a pending or
            threatened claim or demand asserted by a non-affiliated third party against the
            Indemnified Party) (each, a “third-party claim”), setting out
            the
            provisions under this Agreement on which such claim is based, and such other information
            (to the extent available) as is reasonably necessary to enable the Indemnifying
            Party to assess the merits of the potential claim, to make such provision as it
            may consider reasonably necessary (including details 

       

      
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      of the legal
            and factual basis of the claim and the
            evidence on which the party relies (including where the claim is the result of
            a third-party claim, evidence of the third-party claim)) and setting out its
            estimate of the amount of Liabilities to the extent ascertainable which are, or
            are to be, the subject of the claim; provided, however, that the
            failure to provide such notice shall not release the Indemnifying Party from
            any of its obligations under this Article VII except to the
            extent that
            the Indemnifying Party is actually prejudiced by such failure and, in any
            event, only to the extent of such prejudice.  The parties agree that
            (i) in this Article VII, they intend to shorten, in the case
            of the
            limited survival periods specified in Section 7.1, the
            applicable
            statute of limitations period with respect to certain claims; (ii) notices
            for claims in respect of a breach of a representation, warranty, covenant,
            agreement or obligation must be delivered prior to the expiration of the
            applicable survival period specified in Section 7.1 for such
            representation, warranty, covenant, agreement or obligation; and (iii) any
            claims for indemnification for which notice is not timely delivered in
            accordance with this Section 7.4(a) shall be expressly barred
            and are
            hereby waived; provided  further  that, if, prior to such
            applicable date, a party hereto shall have notified the other party hereto in
            accordance with the requirements of this Section 7.4(a) of a
            claim for
            indemnification under this Article VII (whether or not formal
            legal
            action shall have been commenced based upon such claim), such claim (but only
            such claim) shall continue to be subject to indemnification in accordance with
            this Article VII notwithstanding the passing of such
            applicable date
            until the final resolution thereof in accordance with this Article VII. 

      (b)        The Indemnified Party and the Indemnifying Party shall
            reasonably cooperate with each other and assist each other in determining the
            validity of any third-party claim for indemnity and in defending against such a
            third-party claim.  In connection with any fact, matter, event or circumstance
            that may give rise to a claim against any Indemnifying Party under this
            Agreement, the Indemnified Party shall ensure that the Indemnified Party and
            each of its Affiliates:  (i) shall use reasonable efforts to preserve all
            material evidence relevant to the claim, (ii) shall (upon the Indemnifying
            Party’s written request and at the Indemnifying Party’s expense) reasonably
            cooperate with the Indemnifying Party’s and its Representatives’ efforts to
            investigate the fact, matter, event or circumstance alleged to give rise to
            such claim and whether and to what extent any amount is payable in respect of
            such claim, and (iii) shall (at the Indemnifying Party’s expense) disclose
            to the Indemnifying Party and its Representatives all material of which it is
            aware which reasonably relates to the claim and provide (upon the Indemnifying
            Party’s written request and at the Indemnifying Party’s expense), all such
            information and assistance, including reasonable access to relevant premises
            and personnel during normal business hours, and the right to examine and copy
            or photograph any relevant assets, accounts, documents and records, as the
            Indemnifying Party or its Representatives may reasonably request, subject to
            the Indemnifying Party and its Representatives agreeing in such form as the
            Indemnified Party may reasonably require to keep all such information
            confidential and to use it only for the purpose of investigating and defending
            the claim in question.  The party in charge of the defense shall keep the other
            party reasonably apprised from time to time as to the status of the defense or
            any settlement negotiations with respect thereto.

      (c)        Upon receipt of a
            notice of a claim for indemnity from an Indemnified Party pursuant to Section
              7.4(a) in respect of a third-party claim, the Indemnifying Party may, by
            written notice to the Indemnified Party delivered within thirty (30)
            Business Days of the receipt of notice of such third-party claim (the “Notice
              Period”), assume the defense and control of any third-party claim, with its
            own counsel (which shall be reasonably acceptable to the Indemnified Party) and
            at its own expense, but shall allow the Indemnified Party a reasonable
            opportunity to participate 

       

      
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      in the defense
            of such third-party claim with its own
            counsel and at its own expense (unless the Indemnified Party in good faith
            determines that there is an actual conflict of interest with the Indemnifying
            Party in respect of such third-party claim, in which case the Indemnifying
            Party shall be liable for the fees and expenses under this Agreement of one
            legal counsel for all the Indemnified Parties, in addition to one local counsel
            in each applicable jurisdiction, with respect to such third-party claim); provided,
            that the Indemnifying Party shall not have the right to assume the defense of
            any third-party claim that primarily relates to Buyer’s or its Affiliates’
            Taxes.  The Indemnifying Party shall not, without the prior written consent of
            the Indemnified Party (which shall not be unreasonably withheld, conditioned or
            delayed), consent to a settlement, compromise or discharge of, or the entry of
            any judgment arising from, any third-party claim, unless (i) such
            settlement, compromise, discharge or entry of any judgment does not involve
            (A) any finding or admission of any violation of Law or admission of any
            wrongdoing by an Indemnified Party or (B) the imposition of an order, injunction
            or decree of a Governmental Entity that would restrict the future activity or
            conduct of an Indemnified Party, (ii) such settlement or compromise is
            comprised solely of monetary damages (other than customary confidentiality and
            other ancillary obligations), and the Indemnifying Party shall obtain, as a
            condition of such settlement, compromise, discharge, entry of judgment (if
            applicable), or other resolution, a complete and unconditional release of each
            Indemnified Party from any and all liabilities in respect of such third-party
            claim and (iii) the Indemnifying Party pays all amounts arising from such
            settlement or compromise.

      (d)       If the Indemnifying Party elects not to defend the
            Indemnified Party against a third-party claim, whether by not giving the
            Indemnified Party timely notice of its desire to so defend within the Notice
            Period or by giving notice of its election not to defend against such
            third-party claim, the Indemnified Party shall have the right but not the
            obligation to assume its own defense at the expense of the Indemnifying Party.
            Unless and until the Indemnifying Party makes an election in accordance with Section
              7.4(c) to assume the defense of such third-party claim, the Indemnified
            Party may defend against such third-party claim in such manner as it may
            reasonably deem appropriate, with all of the Indemnified Party’s expenses
            arising out of the defense of such third-party claim subject to indemnification
            under this Agreement to the extent provided in this Article VII.
            The
            Indemnified Party shall not settle, compromise or consent to the entry of any
            judgment with respect to any claim or demand for which it is seeking
            indemnification from the Indemnifying Party or admit to any liability with
            respect to such claim or demand without the prior written consent of the
            Indemnifying Party (which may not be unreasonably withheld, conditioned or
            delayed). Notwithstanding anything to the contrary contained in this Article
              VII, no Indemnifying Party shall have any liability under this Article VII
            for any Liabilities arising out of or in connection with any third-party claim
            that is settled or compromised by an Indemnified Party without the consent of
            such Indemnifying Party.

      (e)        In the event any Indemnifying Party receives a notice of a
            claim for indemnity from an Indemnified Party pursuant to Section 7.4(a)
            that does not involve a third-party claim, the Indemnifying Party shall notify
            the Indemnified Party within thirty (30) Business Days following its
            receipt of such notice whether the Indemnifying Party disputes its liability to
            the Indemnified Party under this Article VII.

        
       

       

      
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      (f)        Notwithstanding the
            foregoing provisions of this Section 7.4, (i) if a third-party
            claim relates to Taxes (other than Taxes of Buyer or
            its Affiliates) that are indemnified under Section 7.2, Seller
            shall
            have the exclusive right to conduct, at its own expense, such Tax Proceeding,
            and (ii) Seller shall have the exclusive right to control in all
            respects, and neither Buyer nor any of its Affiliates shall be entitled to
            participate in, any Tax Proceeding with respect to any Tax Return of
            (A) Seller or any of its Affiliates or (B) a consolidated, combined
            or unitary group that includes Seller or any of its Affiliates.

      Section 7.5       Payment.  In the event a claim for indemnification under this Article VII
            has been finally determined, the amount of such final determination shall be
            paid by the Indemnifying Party to the Indemnified Party on demand in
            immediately available funds.  Except to the extent otherwise required pursuant
            to a “determination” within the meaning of Section 1313(a) of the Code, the
            parties agree to treat, for income tax purposes, such payment as an adjustment to
            the purchase price.  Any claim, action, suit, arbitration or proceeding by or
            before any Governmental Entity, and the liability for and amount of damages
            therefor, shall be deemed to be “finally determined” for purposes of this Article
              VII when the parties hereto have so determined by mutual agreement or, if
            disputed, when an order, injunction or decree
            of a Governmental Entity that has become final and non-appealable has been entered into with respect to such claim,
            action, suit, arbitration or proceeding.

      Section 7.6       Exclusive Remedies.  Each party hereto acknowledges and agrees that other
            than Fraud, following the Closing, (a) the indemnification provisions of
            this Article VII shall be the
            sole and exclusive remedies of the parties
            hereto for any breach of the representations or warranties contained in this
            Agreement or any certificate or instrument delivered hereunder,
            (b) notwithstanding anything to the contrary contained herein, no breach
            of any representation, warranty, covenant,
            agreement or obligation contained herein
            shall give rise to any right on the part of any party hereto to rescind this
            Agreement or any of the transactions contemplated hereby, and (c)  the
            indemnification provisions of this Article VII shall be the sole and
            exclusive monetary remedies of the parties hereto for any breach or non‐fulfillment
            of any covenant, agreement or obligation contained in this
            Agreement; provided  that this
            clause (c) does
            not preclude any party from bringing an action for specific performance or
            other equitable remedy to require any party to perform its obligations under
            this Agreement.

      Section 7.7       Damages.  Seller and Buyer agree that with respect to each indemnification
            obligation set forth in this Article VII, the Indemnifying Party’s
            indemnification obligation shall not include Liabilities arising from any
            consequential (including consequential, lost profit damages and diminution in
            value), indirect, incidental, punitive, exemplary, incidental or special
            damages (and, in each case, whether or not foreseeable), except to the extent
            payable to a third party in respect of a third-party claim.  For purposes of
            calculating the amount of any Liability under this Article VII, each
            representation and warranty contained in this Agreement shall be read without
            regard to any “materiality,” “Material Adverse Effect,” “Buyer Material Adverse
            Effect” or other similar qualification contained in or otherwise applicable to
            such representation or warranty, other than the representation and warranty set
            forth in Section 3.8(a).  For
            purposes of determining whether a breach
            of any representation or warranty made in this Agreement has occurred, each
            representation and warranty contained in this Agreement shall be read with
            regard to any “materiality” or other similar qualification contained in or
            otherwise applicable to such representation or warranty but any “Material
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      qualification
            contained in or otherwise applicable to such representation or warranty shall
            be read as “material to the Company Business, taken as a whole”.

      Section 7.8       Right to
              Recover.
            If an Indemnifying Party has paid an amount in discharge of any claim under
            this Agreement and the Indemnified Party recovers (whether by payment,
            discount, credit, relief, insurance or otherwise) from a non-affiliated third
            party a sum which indemnifies or compensates the Indemnified Party (in whole or
            in part) in respect of the Liability 
            which is the subject matter of the claim, Buyer or Seller, as applicable, shall
            procure that all steps are taken as may reasonably be required to pay to Seller
            or Buyer, as applicable, as soon as practicable after receipt an amount equal
            to (a) any sum recovered from the non-affiliated third party less any
            reasonable costs and expenses incurred in obtaining such recovery or
            (b) if less, the amount previously paid by the Indemnifying Party to the
            Indemnified Party. The Indemnifying Party shall be subrogated to any right of
            action (whether pursuant to contract, arising under Applicable Law or
            otherwise) which the Indemnified Party may have against any other Person with
            respect to any matter giving rise to a claim for indemnification hereunder.

      Section 7.9       Double Claims.  No Indemnified Party shall be entitled to recover
            from an Indemnifying Party under this Article VII more than once in
            respect of the same Liability (notwithstanding that such Liability may result
            from breaches of multiple provisions of this Agreement).

      Article VIII

            TERMINATION

      Section 8.1       Termination of Agreement.  This Agreement may be terminated at any time prior to the Closing:

      (a)        by Seller or Buyer, in writing, if there shall be any
            order, injunction or decree of any Governmental Entity that prohibits or
            restrains either party from consummating the transactions contemplated hereby or
            the transactions contemplated by the Specified Transaction Agreements and such
            order, injunction or decree shall have become final and non-appealable or there
            shall be a law, statute, rule or regulation of any Governmental Entity in
            effect that prevents or makes illegal the transactions contemplated hereby or
            the transactions contemplated by the Specified Transaction Agreements; provided,
            that the party seeking to terminate this Agreement pursuant to this Section 8.1(a) 
            shall have performed in all material respects its obligations under Section
              5.3 and Section 5.4; 

      (b)        by Seller or Buyer, in writing, if the Closing has not
            occurred on or prior to December 31, 2021 (the “Outside Date”);
          provided,
            that the party seeking to terminate this Agreement has not materially breached
            this Agreement in a manner that contributed materially to the failure of the
            Closing to occur on or prior to such date;

      (c)        by Seller, in writing, if a breach of any provision of this
            Agreement that has been committed by Buyer would cause the failure of a
            condition to Closing set forth in Section 6.3(a) or Section 6.3(b)
            and such breach is not capable of being cured or, if capable of being cured, is
            not cured before the earlier of (i) the Outside Date and (ii) the date that is
            twenty (20) Business Days after Buyer receives written notice from Seller that
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      pursuant to
            this Section 8.1(c); provided, that Seller is not then in
            material breach of this Agreement;

      (d)       by Buyer, in writing, if a breach of any provision of this
            Agreement that has been committed by Seller would cause the failure of a
            condition to Closing set forth in Section 6.2(a) or Section 6.2(b)
            and such breach is not capable of being cured or, if capable of being cured, is
            not cured before the earlier of (i) the Outside Date and (ii) the date that is
            twenty (20) Business Days after Seller receives written notice from Buyer that
            Buyer intends to terminate this Agreement pursuant to this Section 8.1(d);
          provided, that Buyer is not then in material breach of this
            Agreement;

      (e)        by Seller, in writing, if (i) all of the conditions to
            Buyer’s obligations under this Agreement set forth in Section 6.1 and
              Section 6.2 have been satisfied (other than those conditions that by their
            terms are to be satisfied at the Closing, provided that such conditions are
            then capable of being satisfied at the Closing), (ii) Seller has irrevocably
            confirmed in writing to Buyer that (A) all of the conditions to Seller’s
            obligations under this Agreement set forth in Section 6.1 and Section
              6.3 have been satisfied (other than those conditions that by their terms
            are to be satisfied at the Closing, provided that such conditions are then
            capable of being satisfied at the Closing) or that Seller is willing to
            irrevocably waive any such conditions that remain unsatisfied and (B) Seller is
            ready, willing and able to proceed with the Closing and (iii) Buyer fails to
            comply with its obligations under Article II  to consummate
            the
            Closing by the later of two (2) Business Days after (A) the date of delivery of
            the written confirmation contemplated by the foregoing clause (ii) and (B) the
            time specified in Section 2.2; or

      (f)        by mutual written agreement of Seller and Buyer.

      Section 8.2       Effect of Termination. 
            If this Agreement is terminated pursuant to Section 8.1, this Agreement shall become null and void
            and of no further force and effect without liability of either party (or any
            Representative of such party) to the other party to this Agreement; provided,
            that (a) subject to the two immediately following sentences, no such
            termination shall relieve a party from liability for any Fraud or Willful
            Breach of this Agreement, (b) Section 1.1,
          Section 5.5, this Section 8.2
            and Article IX shall survive termination and (c) if requested in writing
            by Seller, Buyer shall return to Seller or destroy (and provide a certificate
            of destruction) all documents received by Buyer or any of its Affiliates or its
            or their Representatives from or on behalf of Seller, the Company, their
            respective Affiliates and their respective Representatives relating to the
            transactions contemplated hereby, whether obtained before or after the
            execution hereof (it being agreed that the Confidentiality Agreement shall remain
            in full force and effect in accordance with its terms).  Notwithstanding
            anything to the contrary in this Agreement, solely in the event that the
            Closing does not occur, the maximum aggregate liability of Buyer and the Equity
            Provider for any Liability suffered as a result of any breach of this Agreement
            (including any Willful Breach), the Equity Commitment Letter or the Limited
            Guaranty, or the failure of the transactions contemplated hereby or thereby to
            be consummated, or in respect of any oral representation made or alleged to be
            have been made in connection herewith or therewith, whether in equity or at
            law, in contract, in tort or otherwise, shall not exceed and shall be limited
            to the Purchase Price, and in no event shall Seller seek to, and Seller shall
            cause its controlled Affiliates, directors, and officers not to seek to,
            recover any money damages (including consequential, indirect or punitive
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      representation.  In furtherance and not in limitation of
            the foregoing, solely in the event that the Closing does not occur and Seller
            commences an Action seeking monetary damages for any breach of this Agreement
            (including any Willful Breach), the Equity Commitment Letter or the Limited
            Guaranty, or the failure of the transactions contemplated hereby or thereby to
            be consummated, upon payment of damages in an amount up to the Purchase Price,
            Buyer and the Equity Provider shall not have any further liability or
            obligation to Seller or any of its equity holders, controlling persons,
            directors, officers, employees, agents, Affiliates, members, managers or
            general or limited partners or any former, current or future stockholder,
            controlling person, director, officer, employee, general or limited partner,
            member, manager, Affiliate or agent of any of the foregoing relating to or
            arising out of this Agreement, the Equity Commitment Letter or the Limited
            Guaranty, or the failure of the any transaction contemplated hereby or thereby
            to be consummated, whether in equity or at law, in contract, in tort or
            otherwise, and in such event, Seller shall not seek to, and shall cause its controlled Affiliates,
            directors, and officers not to seek to, recover any money damages (including
            consequential, indirect or punitive damages, or damages on account of a Willful
            Breach) from Buyer or the Equity Provider for any such breach or failure.

      Article IX

            GENERAL PROVISIONS

      Section 9.1       Fees and Expenses. 
            Except as otherwise expressly provided in this Agreement, whether or not the
            purchase and sale of the Purchased Shares is consummated, each party shall pay
            its own Transaction Expenses incident to preparing for, entering into and
            carrying out the Transaction Agreements and the consummation of the
            transactions contemplated thereby.  Notwithstanding anything to the contrary in
            this Agreement, Buyer shall pay, when due, and
            be responsible for,  any sales, use transfer, documentary, stamp, recording,
            value added, conveyance, goods and services or similar Taxes and fees imposed
            on or payable solely as  a result of  the transfer and sale of the Purchased
            Shares pursuant to this Agreement; provided, that Buyer shall not be
            responsible, and shall not bear any such taxes that would not have resulted if
            the transfer and sale of the Purchased Shares was the only relevant transaction
            for purposes of determining whether such Tax applies under Applicable Law.  The
            party required by Applicable Law to do so shall file all necessary Tax Returns
            and other documentation with respect to all Taxes referenced in the immediately
            preceding sentence and, if required by Applicable Law, the other party shall,
            or shall cause its respective Affiliates to, join in the execution of any such
            Tax Returns and other documentation.  

      Section 9.2       Notices.  All notices,
            requests, claims, demands and other communications under this Agreement shall
            be in writing and shall be deemed to have been given (a) when delivered by
            hand (with written confirmation of receipt), (b) when received by the addressee
            if sent by a nationally recognized overnight courier (receipt requested), (c)
            on the date sent by e-mail if sent during normal business hours of the
            recipient, and on the next Business Day if sent after normal business hours of
            the recipient, or (d) on the third day after the date mailed, by certified or
            registered mail, return receipt requested, postage prepaid.  Such
            communications must be sent to the respective parties at the following
            addresses (or at such other address for a party as shall be specified by like
            notice):

        
       

      
        -48-   

      

    

    

    
      
         

      

      if to Buyer, to:

      Argon
            Holdco LLC

            c/o The Blackstone Group Inc.

            345 Park Avenue

            New York, New York 10154 

            Attention:  John G. Finley 

            Email:       john.finley@blackstone.com 

            

          

      with a
            copy (which shall not constitute notice) to:

      Simpson
            Thacher & Bartlett LLP 

            425 Lexington Avenue 

            New York, New York 10017 

            Attention:  Elizabeth A. Cooper

                              Katherine M. Krause

            Email:       ecooper@stblaw.com

                              katherine.krause@stblaw.com

      and

      Skadden,
            Arps, Slate, Meagher & Flom LLP 

            One Manhattan West

            New York, New York 10001

            Attention:  Todd Freed

                              Jon Hlafter

            Email:       todd.freed@skadden.com

                              jon.hlafter@skadden.com

      if to
            Seller, to:

      American
            International Group, Inc. 

            1271 Avenue of the Americas

            41st Floor 

            New York, New York 10020 

            Attention:  General Counsel 

            Email:       lucy.fato@aig.com 

      
        -49-   

      

    

    

    
      
         

      

      with a copy (which shall not
            constitute notice) to:

      Wachtell, Lipton,
            Rosen & Katz 

            51 West 52nd Street 

            New York, New York 10019 

            Attention:  Edward D. Herlihy

                              David K. Lam

                        Mark
            A. Stagliano

            Email:       edherlihy@wlrk.com

                        dklam@wlrk.com

                              mastagliano@wlrk.com

      Section 9.3       Interpretation.  When
            reference is made in this Agreement to a Section, Exhibit or Schedule, such
            reference shall be to a Section of, or an Exhibit or Schedule to, this
            Agreement unless otherwise indicated.  All references herein to any agreement,
            instrument, statute, rule or regulation are to the agreement, instrument,
            statute, rule or regulation as amended, modified, supplemented or replaced from
            time to time (and, in the case of statutes, include any rules and regulations
            promulgated under said statutes) and to any section of any statute, rule or
            regulation including any successor to said section.  Any fact or item disclosed
            in any Section or subsection of each of the Seller Disclosure Schedule shall be
            deemed to apply to and qualify the Section or subsection of this Agreement to
            which it corresponds in number and each other Section or subsection of this
            Agreement or the Seller Disclosure Schedule to the extent the relevance to such
            Section or subsection is reasonably apparent on the face of such disclosure. 
            Disclosure of any item in the Seller Disclosure Schedule shall not be deemed an
            admission that such item represents a material item, fact, exception of fact,
            event or circumstance or that occurrence or non-occurrence of any change or
            effect related to such item has had or would reasonably be expected to have,
            individually or in the aggregate, a Material Adverse Effect.  The table of
            contents and headings contained in this Agreement are for reference purposes
            only and shall not affect in any way the meaning or interpretation of this
            Agreement.  Whenever the words “include,” “includes” or “including” are used in
            this Agreement, they shall be deemed to be followed by the words “without
            limitation.”  Whenever the words “hereof,” “hereto,” “hereby,” “herein” and “hereunder” and words of similar import are used in this Agreement, they shall
            be deemed to refer to this Agreement as a whole and not to any particular
            provision of this Agreement.  Whenever the word “or” is used in this Agreement,
            it shall not be exclusive.  Whenever the word “extent” in the phrase “to the
            extent” is used in this Agreement, it shall be deemed to mean the degree to
            which a subject or other thing extends and shall not mean simply “if.” 
            Whenever the singular is used herein, the same shall include the plural, and
            whenever the plural is used herein, the same shall include the singular, where
            appropriate.  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.  All
            percentages resulting from calculations pursuant to Section 2.5 of this
            Agreement will be set forth in decimals and rounded to the nearest thousandth. 
            This Agreement has been fully negotiated by both parties and shall not be
            construed by any Governmental Entity against either party by virtue of the fact
            that such party was the drafting party.

        
       

      
        -50-   

      

    

    

    
      
         

      

      Section 9.4       Entire Agreement; Third Party Beneficiaries.  This Agreement (including all Exhibits and Schedules
            hereto), the Confidentiality Agreement, the Equity Commitment Letter, the
            Limited Guaranty and the other Transaction Agreements constitute the entire
            agreement, and supersede all prior agreements, understandings, representations
            and warranties, both written and oral, among the parties with respect to the
            subject matter of this Agreement.  Except as otherwise expressly provided in
            this Article IX, this Agreement is not intended to confer upon any
            Person other than the parties to this Agreement any rights or remedies.

      Section 9.5    Governing Law.  This
            Agreement and any dispute arising hereunder shall be governed by, and construed
            in accordance with, the laws of the State of Delaware, without giving effect to
            its principles or rules of conflict of laws, to the extent such principles or
            rules are not mandatorily applicable by statute and would permit or require the
            application of the laws of another jurisdiction.

      Section 9.6    Assignment.  Neither
            this Agreement nor any of the rights, interests or obligations under this
            Agreement shall be assigned, in whole or in part, by operation of law or
            otherwise, by either party without the prior written consent of the other
            party, and any such assignment that is not consented to shall be null and void;
          provided  that Buyer may, without the prior written consent of Seller,
            assign its rights and interests, and delegate its obligations, under this
            Agreement to an Affiliate thereof; provided, however, that no
            such assignment or delegation shall (i) relieve Buyer of its obligations
            hereunder or (ii) impair or delay, in any material respect, the consummation of
            the transactions contemplated hereby.  Subject to the foregoing, this Agreement
            will be binding upon, inure to the benefit of, and be enforceable by, the
            parties and their respective successors and assigns.

      Section
            9.7       Jurisdiction; Enforcement.

      (a)      Each party hereby irrevocably and unconditionally  submits to the
            exclusive jurisdiction of the Court of Chancery of the State of Delaware, or,
            if (and only if) such court finds it lacks jurisdiction, the federal court of
            the United States of America sitting in Delaware, or if (and only if) such
            court finds it lacks jurisdiction, any other court located in the State of
            Delaware, and any appellate court from any thereof, for purposes of enforcing
            this Agreement or determining any claim arising from or related to the
            transactions contemplated by this Agreement.  In any such action, suit or other
            proceeding, each party irrevocably and unconditionally waives and agrees not to
            assert by way of motion, as a defense or otherwise any claim that it is not
            subject to the jurisdiction of such courts, that such action, suit or other
            proceeding is not subject to the jurisdiction of such courts, that such action,
            suit or other proceeding is brought in an inconvenient forum or that the venue
            of such action, suit or other proceeding is improper.  Each party also agrees
            that any final and non-appealable judgment against a party in connection with
            any action, suit or other proceeding will be conclusive and binding on such party
            and that such award or judgment may be enforced in any court of competent
            jurisdiction, either within or outside of the United States.  A certified or
            exemplified copy of such award or judgment will be conclusive evidence of the
            fact and amount of such award or judgment.  Any process or other paper to be
            served in connection with any action or proceeding under this Agreement shall,
            if delivered or sent in accordance with Section 9.2,
            constitute good, proper and sufficient service thereof.  Notwithstanding this Section
              9.7(a), the determination of the Closing Purchase Price shall be made 

      
        -51-   

      

    

    

    
      
         

      

      as set forth in Section 2.5; provided, that
            any dispute over the obligations of the parties under Section 2.5 shall
            be subject to this Section 9.7. 

      (b)        The parties agree that irreparable damage would occur in
            the event that any of the provisions of this Agreement were not performed in
            accordance with their specific terms or were otherwise breached.  It is
            accordingly agreed that, without the necessity of posting bond or other
            undertaking, the parties shall be entitled to an injunction or injunctions to
            prevent breaches of this Agreement and to enforce specifically the terms and
            provisions of this Agreement in accordance with this Agreement, this being in
            addition (subject to the terms of this Agreement, including the last sentence
            of this Section 9.7(b)) to any other remedy to which such
            party is
            entitled at law or in equity.  In the event that any Action is brought in
            equity to enforce the provisions of this Agreement, no party shall allege, and
            each party hereby waives any defense or counterclaim, that there is an adequate
            remedy at law.  The parties further agree that nothing contained in this Section
              9.7(b) shall require a party to institute any action for (or limit such
            party’s right to institute any action for) specific performance under this Section
              9.7(b) before exercising any other right under this Agreement. 
            Notwithstanding anything to the contrary in this Agreement, but without
            limiting Seller’s rights pursuant to Article VII,  while
            Seller may
            concurrently seek specific performance in accordance with and subject to this Section
              9.7(b) to cause Buyer to consummate the transactions contemplated hereby
            and to recover monetary damages from Buyer, subject to the limitations set
            forth in Section 8.2, under no
            circumstances shall Seller by permitted or entitled to receive both (i) a grant
            of specific performance causing Buyer to consummate the transactions
            contemplated hereby and (ii) monetary damages of any kind whatsoever.  

      (c)        EACH PARTY HEREBY IRREVOCABLY WAIVES ANY AND ALL RIGHT TO
            TRIAL BY JURY IN ANY PROCEEDING ARISING OUT OF OR RELATED TO THIS AGREEMENT OR
            THE TRANSACTIONS CONTEMPLATED HEREBY.  EACH PARTY CERTIFIES AND ACKNOWLEDGES
            THAT (I) NO OTHER PARTY OR REPRESENTATIVE, AGENT OR ATTORNEY THEREOF HAS
            REPRESENTED, EXPRESSLY OR OTHERWISE, THAT SUCH OTHER PARTY WOULD NOT, IN THE
            EVENT OF LITIGATION, SEEK TO ENFORCE THE FOREGOING WAIVER, (II) IT UNDERSTANDS
            AND HAS CONSIDERED THE IMPLICATIONS OF SUCH WAIVER, (III) IT MAKES SUCH WAIVER
            VOLUNTARILY AND (IV) IT HAS BEEN INDUCED TO ENTER INTO THIS AGREEMENT BY, AMONG
            OTHER THINGS, THE MUTUAL WAIVERS AND CERTIFICATIONS IN THIS SECTION 9.7(C). 

      Section
            9.8       Severability; Amendment; Waiver.

      (a)        Whenever possible, each provision or portion of any
            provision of this Agreement will be interpreted in such manner as to be
            effective and valid under Applicable Law, but if any provision or portion of
            any provision of this Agreement is held to be invalid, illegal or unenforceable
            in any respect under any Applicable Law in any jurisdiction, such invalidity,
            illegality or unenforceability will not affect any other provision or portion
            of any provision in such jurisdiction, and this Agreement will be reformed,
            construed and enforced in such jurisdiction as if such invalid, illegal or
            unenforceable provision or portion of any provision had never been contained
            herein.

       

      
        -52-   

      

    

    

    
      
         

      

      (b)        This Agreement may be
            amended or a provision hereof waived only by a written instrument signed by
            each of Buyer and Seller.

      (c)        No delay on the part of a party in exercising any right,
            power or privilege hereunder shall operate as a waiver thereof, nor shall any
            waiver on the part of a party of any right, power or privilege, nor any single
            or partial exercise of any such right, power or privilege, preclude any further
            exercise thereof or the exercise of any other such right, power or privilege.

      Section
            9.9       Certain Limitations.

      (a)       With
            respect to any estimation,  valuation, appraisal, projection or forecast  made
            available to Buyer, its Affiliates or their respective Representatives with
            respect to Seller, the Company or their respective Affiliates, Buyer
            acknowledges and agrees that (i) there are uncertainties inherent in attempting
            to make such estimations, valuations, appraisals, projections and forecasts,
            (ii) it is familiar with such uncertainties, (iii) such estimations,
            valuations, appraisals, projections and forecasts are not and shall not be
            deemed to be representations or warranties of Seller, the Company or any of
            their respective Affiliates, except to the extent set forth in the
            representations and warranties set forth in Article III, and (iv) it
            shall have no claim against any Person with respect to any such valuation,
            appraisal, projection or forecast.

      (b)        Except to the extent expressly set forth in the
            representations and warranties of Seller set forth in Article III,
            neither Seller nor the Company makes any express or implied representation or
            warranty hereby or otherwise under this Agreement or any other Transaction
            Agreement as to the future experience, success or profitability of the Company
            Business, whether or not conducted in a manner similar to the manner in which
            the Company Business was conducted prior to the Closing, or that the reserves
            held by or on behalf of any the Company or any Company Subsidiaries or
            otherwise with respect to the Company Business or the assets supporting such
            reserves have been or will be adequate or sufficient for the purposes for which
            they were established or that the reinsurance recoverables taken into account
            in determining the amount of such reserves will be collectible or whether such
            reserves were calculated, established or determined in accordance with any actuarial,
            statutory or other standard, or concerning any financial statement line item or
            asset, Liability or equity amount that would be affected by any of the
            foregoing.

      (c)        Buyer further acknowledges and agrees that it (i) is a
            sophisticated party and understands the merits and risks of consummating the
            transactions contemplated by this Agreement and the other Transaction
            Agreements, (ii) has made its own inquiry and investigation into, has completed
            to its satisfaction its own due diligence investigation of, and, based thereon,
            has formed an independent judgment concerning the Company, the Company Subsidiaries
            and the Company Business, (iii) has been furnished or provided access to such
            information and documents about the Company, the Company Subsidiaries and the
            Company Business and the operations thereof or otherwise as it has deemed
            necessary to enable it to form such independent judgment and (iv) has been
            provided an opportunity to ask questions of Seller and the Company with respect
            to such information, documents and other materials and has received answers to
            such questions.  Buyer further acknowledges and agrees that none of Seller
            (except as expressly set forth in Article  III)
            the
            Company or any of their respective Affiliates, nor any other Person not a party
            to this Agreement, is making or has made any representations or warranties,
            express or implied, as 

      
        -53-   

      

    

    

    
      
         

      

      to the
            accuracy or completeness
            of any such information, documents and other materials, and hereby expressly
            disclaim any such representations or warranties or any reliance thereon, other
            than the representations and warranties expressly set forth in this Agreement.

      Section 9.10     Non-Recourse. 
            Notwithstanding anything to the contrary contained herein or otherwise, this
            Agreement may only be enforced against, and any claims or causes of action that
            may be based upon, arise out of or relate to this Agreement, or the
            negotiation, execution or performance of this Agreement or the transactions
            contemplated hereby, may only be made against, the Persons that are expressly
            identified as parties to this Agreement (in the preamble and signature pages
            hereto) in their capacities as parties to this Agreement or the Persons that
            are expressly identified as parties to any other Transaction Agreement, the
            Equity Commitment Letter or the Limited Guaranty in their capacities as parties
            to such agreements, and no former, current or future equity holders,
            controlling persons, directors, officers, employees, agents, Affiliates,
            members, managers or general or limited partners of any of the Persons that are
            expressly identified herein as parties to such agreements or any former,
            current or future stockholder, controlling person, director, officer, employee,
            general or limited partner, member, manager, Affiliate or agent of any of the
            foregoing, or any other non-party, shall have any liability for any obligations
            or liabilities of the parties or for any claim (whether in tort, contract or
            otherwise) based on, in respect of, or by reason of, the transactions
            contemplated hereby or thereby or in respect of any representations, warranties
            or statements made or alleged to be made in connection herewith or therewith
            (except to the extent such Person is expressly identified as a party to such
            other agreement).  Without limiting the rights of either party against the
            other party, in no event shall either party or any of its Affiliates seek to
            enforce this Agreement against, make any claims for breach of this Agreement
            against, or seek to recover monetary damages for breach of this Agreement from,
            any non-party, whether by or through attempted piercing of the corporate,
            limited partnership or limited liability company veil, by the enforcement of
            any assessment or by any legal or equitable proceeding, by virtue of any
            statute, regulation or Applicable Law, or otherwise.  The non-parties specified
            above shall be express third-party beneficiaries of this Section 9.10. 

      Section 9.11     No Offset.  No party
            to this Agreement may offset any amount due to any other party or any of such
            other party’s Affiliates against any amount owed or alleged to be owed from
            such other party or its Affiliates under this Agreement or any other
            Transaction Agreement without the written consent of such other party.

      Section 9.12     Counterparts.  This
            Agreement may be executed in counterparts, all of which shall be considered one
            and the same agreement and shall become effective when counterparts have been
            signed by each party and delivered to the other party.  Each party may deliver
            its signed counterpart of this Agreement to the other party by means of
            electronic mail or any other electronic medium utilizing image scan technology,
            and such delivery will have the same legal effect as hand delivery of an
            originally executed counterpart.

      [Remainder of page intentionally left
              blank] 

        
      
        -54-   

      

    

    

    
      
         

      

      IN WITNESS WHEREOF,
            Seller and
            Buyer have caused this Agreement to be signed by their respective duly
            authorized officers as of the date first written above.

                                                                             
            AMERICAN
            INTERNATIONAL GROUP, INC.

       

                                                                              By: 
          /s/ Mark Lyons                                        

      Name:  Mark Lyons

      Title:    Executive Vice
            President and Chief Financial
            Officer

                                                                                         
             

                                                                                                     
             

       

       

       

       

       

       

       

       

       

       

       

       

       

       

       

       

       

       

       

       

       

       

       

       

       

      [Signature
              Page to L&R Stock Purchase Agreement] 

       

      
         

      

    

    

    
      
         

      

      ARGON HOLDCO LLC

       

      By: Blackstone Holdings II L.P., its
            sole member

       

      By: Blackstone Holdings I/II GP
            L.L.C., its general partner

       

      By:  /s/ Michael Chae                         

      Name:  Michael Chae

            Title:   Chief Financial Officer

       

       

       

       

       

       

       

       

       

       

       

       

       

       

       

       

       

       

      [Signature
              Page to L&R Stock Purchase Agreement]

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