Document:

EX-10.1

 Exhibit 10.1 
 SHAREHOLDER AGREEMENT 
 BETWEEN 

ING U.S., INC. 
 AND 
 ING GROEP N.V. 

DATED AS OF May 7, 2013 

							
		 	ARTICLE I	  			
		 	DEFINITIONS	  			
			
	 1.1
	 	 Definitions
	  	 	2	 
	 1.2
	 	 Beneficial Ownership
	  	 	7	 
	 1.3
	 	 Timing of Provisions
	  	 	8	 
			
		 	ARTICLE II	  			
		 	BOARD OF DIRECTORS AND CORPORATE GOVERNANCE	  			
			
	 2.1
	 	 Charter and By-Laws
	  	 	9	 
	 2.2
	 	 Board of Directors
	  	 	9	 
	 2.3
	 	 Audit Committee of the Board
	  	 	10	 
	 2.4
	 	 Compensation and Benefits Committee of the Board
	  	 	11	 
	 2.5
	 	 Nominating and Governance Committee of the Board
	  	 	12	 
	 2.6
	 	 Finance Committee of the Board
	  	 	13	 
	 2.7
	 	 Executive Committee of the Board
	  	 	13	 
	 2.8
	 	 Management Risk Committee
	  	 	14	 
	 2.9
	 	 Management Investment Committee
	  	 	14	 
	 2.10
	 	 Implementation
	  	 	14	 
			
		 	ARTICLE III	  			
		 	GROUP APPROVAL AND CONSENT RIGHTS	  			
			
	 3.1
	 	 ING Group Approval and Consent Rights at Thirty Percent Threshold
	  	 	16	 
	 3.2
	 	 Implementation
	  	 	17	 
			
		 	ARTICLE IV	  			
		 	INFORMATION, DISCLOSURE AND FINANCIAL ACCOUNTING	  			
			
	 4.1
	 	 Information Rights During Equity Accounting Periods
	  	 	18	 
	 4.2
	 	 Information Rights During Full Consolidation Periods
	  	 	18	 
	 4.3
	 	 General Information Requirements
	  	 	19	 
	 4.4
	 	 Reporting Coordination Committee
	  	 	19	 
	 4.5
	 	 Matters Concerning Auditors
	  	 	19	 
	 4.6
	 	 Release of Information and Public Filings
	  	 	20	 
	 4.7
	 	 Information in Connection with Regulatory or Supervisory Requirements
	  	 	21	 
	 4.8
	 	 Implementation with Respect to Legal Disclosures
	  	 	22	 
	 4.9
	 	 Expenses
	  	 	22	 
			
		 	ARTICLE V	  			
		 	SUBSEQUENT SALES OF COMMON STOCK	  			
			
	 5.1
	 	 Registration Rights
	  	 	23	 
	 5.2
	 	 Equity Purchase Rights
	  	 	23	 
	 5.3
	 	 Lock-Up Provisions
	  	 	24	 
	 5.4
	 	 Warrants
	  	 	25	 

							
		 	ARTICLE VI	  			
		 	OTHER PROVISIONS	  			
			
	 6.1
	 	 Other Arrangements
	  	 	26	 
	 6.2
	 	 Other Agreements
	  	 	26	 
	 6.3
	 	 Related Party Transaction Policy
	  	 	26	 
	 6.4
	 	 Certain Policies and Procedures
	  	 	26	 
	 6.5
	 	 Access to Personnel and Data
	  	 	27	 
	 6.6
	 	 Internal Communications Protocols
	  	 	27	 
	 6.7
	 	 Access to Historical Records
	  	 	27	 
	 6.8
	 	 Indemnification; Liability Insurance
	  	 	28	 
	 6.9
	 	 Non-Solicitation
	  	 	31	 
			
		 	ARTICLE VII	  			
		 	REQUIREMENTS WITH RESPECT	  			
		 	TO ING GROUP-GUARANTEED OBLIGATIONS	  			
			
	 7.1
	 	 Aetna Notes
	  	 	32	 
	 7.2
	 	 Reimbursement Obligations with Respect to ING Group Guarantees
	  	 	34	 
			
		 	ARTICLE VIII	  			
		 	INDEMNIFICATION	  			
			
	 8.1
	 	 General Cross Indemnification
	  	 	35	 
	 8.2
	 	 Procedure
	  	 	35	 
	 8.3
	 	 Other Matters
	  	 	36	 
			
		 	ARTICLE IX	  			
		 	DISPUTE RESOLUTION	  			
			
	 9.1
	 	 Mediation
	  	 	37	 
	 9.2
	 	 Arbitration
	  	 	37	 
	 9.3
	 	 Confidentiality
	  	 	38	 
			
		 	ARTICLE X	  			
		 	GENERAL PROVISIONS	  			
			
	 10.1
	 	 Obligations Subject to Applicable Law
	  	 	40	 
	 10.2
	 	 Notices
	  	 	40	 
	 10.3
	 	 Binding Nature of Agreement
	  	 	41	 
	 10.4
	 	 Remedies
	  	 	41	 
	 10.5
	 	 Governing Law
	  	 	41	 
	 10.6
	 	 Counterparts
	  	 	41	 
	 10.7
	 	 Severability
	  	 	41	 
	 10.8
	 	 Confidential Information
	  	 	42	 
	 10.9
	 	 Amendment, Modification and Waiver
	  	 	42	 
	 10.10
	 	 No Assignment
	  	 	42	 
	 10.11
	 	 Further Actions
	  	 	42	 
	 10.12
	 	 No Third Party Beneficiaries
	  	 	42	 
	 10.13
	 	 Discretion of Parties
	  	 	42	 
	 10.14
	 	 Entire Agreement
	  	 	43	 
	 10.15
	 	 Term
	  	 	43	 

  
 ii 

 Schedules and Annexes 
 Schedule 1.1(xx) – ING Group Guarantees 
 Schedule 1.1(kkk) - Other Agreements 

Schedule 2.2(f) – Lead Director Responsibilities 
 Schedule 4.6(b) - Public Reporting Protocol Prior to Majority Holder Date 
 Annex A – Form of
Registration Rights Agreement 
 Annex B – Form of Amended and Restated Certificate of Incorporation 

Annex C – Form of Amended and Restated By-Laws 
 Annex D – Form of Common Interest Agreement 
 Annex E – Form of Related Party
Transaction Policy 

  
 iii

 SHAREHOLDER AGREEMENT 

THIS SHAREHOLDER AGREEMENT is made as of the 7th day of May, 2013. 
 BETWEEN: 
 ING U.S., INC., a Delaware corporation 

(the “Company”) 
 - and - 
 ING GROEP N.V., a public limited liability company formed under
the laws of The Netherlands 
 (“ING Group”) 

(each a “Party” and, collectively, the “Parties”) 

RECITALS: 

WHEREAS, ING Group is the indirect owner of all of the issued and outstanding Common Stock (as defined herein) of the Company
immediately prior to the date hereof; 
 WHEREAS, following Completion of the IPO (as defined herein), ING Group will
continue to own a majority of the outstanding Common Stock, its holdings of which it will fully divest over time; and 

WHEREAS, the Parties hereto wish to set forth certain agreements that will govern certain matters between them following the
Completion of the IPO (as defined below). 
 NOW, THEREFORE, in consideration of the mutual promises and covenants set
forth herein, and for other good and valuable consideration, the receipt and adequacy of which are hereby acknowledged, the Parties hereto, intending to be legally bound, hereby agree as follows: 

 ARTICLE I 
 DEFINITIONS 
  

	1.1	Definitions 

 In this
Agreement, the following terms shall have the following meanings: 
  

	 	(a)	“AAA” has the meaning set forth in Section 9.2(a). 

  

	 	(b)	“Acceptable Bank” means a U.S. federal- or state-chartered depository institution or trust company, insured by the Federal Deposit Insurance
Corporation, the long-term debt obligations of which meet the Ratings Standards. 

  

	 	(c)	“Acceptable Collateral Agent” means Bank of New York Mellon (or a successor institution) or any other financial institution in the United States
designated by the Company and acceptable to ING Group in its reasonable discretion, the long-term debt obligations of which meet the Ratings Standards. 

  

	 	(d)	“Acceptable LOC Issuer” means a bank chartered or established pursuant to the laws of a country that is a member country of the Organisation for
Economic Co-operation and Development, the long-term debt obligations of which meet the Ratings Standards. 

  

	 	(e)	“Actions” has the meaning set forth in Section 8.1(a). 

 

	 	(f)	“Aetna Notes” means, collectively, the 6.75% Debentures due 2013 of Lion Holdings, 7.25% Debentures due 2023 of Lion Holdings, 7.63% Debentures due
2026 of Lion Holdings and 6.97% Debentures due 2036 of Lion Holdings. 

  

	 	(g)	“Agreement” and “hereof” and “herein” means this Shareholder Agreement, including all amendments, modifications and
supplements and all annexes and schedules to any of the foregoing, and shall refer to this Agreement as the same may be in effect at the time such reference becomes operative. 

 

	 	(h)	“Applicable Law” means any domestic or foreign statute, law (including the common law), ordinance, rule, regulation, published regulatory policy or
guideline, order, judgment, injunction, decree, award or writ of any court, tribunal or other regulatory authority, arbitrator, governmental authority, or other Person having jurisdiction, or any consent, exemption, approval or license of any
governmental authority that applies in whole or in part to a Party and, with respect to the Company, includes the Exchange Act, the Securities Act, the Delaware General Corporation Law, the rules of the SEC, insurance company laws and all related
regulations, guidelines and instructions and the rules of the Exchange and any other exchange or quotation system on which the securities of the Company are listed or traded from time to time. 

 

	 	(i)	“Appropriate Collateral Documentation” means documents and instruments sufficient to grant a first-priority perfected security interest in the
Collateral to ING Group (or its applicable Subsidiary as provided in Section 7.1(b) hereof) as security for the Company’s obligations under Section 7.2(a) hereof, pursuant to the New York Uniform Commercial Code as in effect from time
to time (or any successor statute), and which contains the provisions set forth in Section 7.1(c) hereof. 

  

	 	(j)	“Bankruptcy Laws” means Title 11 of the United States Code, as amended, and other Federal, State or foreign laws principally dealing with the
liquidation, reorganization, administration, conservatorship or receivership of insolvent debtors, including provisions of Federal, state and foreign laws and regulation principally dealing with the rehabilitation or liquidation of regulated
insurance entities. 

  
 2 

	 	(k)	“Board of Directors” means the board of directors of the Company from time to time. 

 

	 	(l)	“Business Day” means any day except a (i) Saturday, (ii) Sunday, (iii) any day on which the principal office of the Company or of ING
Group is not open for business, and (iv) any other day on which commercial banks in New York or in The Netherlands are authorized or obligated by law or executive order to close. 

 

	 	(m)	“Calculation Day” has the meaning set forth in Section 7.1(e) hereof. 

 

	 	(n)	“Capital Management Facilities” means debt or other obligations of the Company or any of its Subsidiaries (a) in respect of AXXX, XXX and other
similar insurance reserve requirements, (b) incurred in connection with repurchase agreements and securities lending, (c) to the extent the proceeds of which are used directly or indirectly (including for the purpose of funding portfolios
that are used to fund trusts in order) to support AXXX, XXX and other similar insurance reserve requirements, (d) to the extent the proceeds of which are used to fund discrete customer-related assets or pools of assets (and related hedge
instruments and capital) that are at least notionally segregated from other assets and have sufficient cash flow to pay principal and interest thereof, with insignificant risk of other assets of the Company or its Subsidiaries being called upon to
make such principal and interest payments, (e) in respect of letters of credit issued on behalf of any Subsidiary for insurance regulatory or reinsurance purposes, (f) that is consolidated on the balance sheet of the Company as a
“variable interest entity” under ASC 810 (or any successor interpretations or amendments thereto), (g) in the form of guaranteed investment contracts, the proceeds of which are used to fund the Company’s Closed Block
Institutional Spread Products business, substantially in accordance with past practice, (h) that is owed to a Federal Home Loan Bank, (i) that is owed exclusively to the Company or one or more Subsidiaries of the Company, provided that for
purposes of this clause (i), the term “Subsidiary” shall be defined solely by reference to the first sentence of the definition in Section 1.1(kkk) hereof. 

 

	 	(o)	“Capital Stock” means a share of the equity capital of a Person or a security convertible (whether or not such conversion is contingent or conditional)
into the equity capital of a Person. 

  

	 	(p)	“Collateral” has the meaning set forth in Section 7.1(b) hereof. 

 

	 	(q)	“CEO” means the Chief Executive Officer of the Company from time to time (or the equivalent successor position), as appointed by the Board of
Directors. 

  

	 	(r)	“CFO” means the Chief Financial Officer of the Company from time to time (or the equivalent successor position), as appointed by the Board of
Directors. 

  

	 	(s)	“Common Stock” means the common stock, par value $0.01, of the Company. 

 

	 	(t)	“Company” has the meaning set forth in the preamble to this Agreement. 

 

	 	(u)	“Company Auditor” means the independent registered public accounting firm responsible for conducting the audit of the Company’s annual financial
statements. 

  

	 	(v)	“Company Slate” means the candidates for election as Director proposed or recommended by the Board of Directors to the Company’s stockholders in
connection with a meeting of stockholders. 

  

	 	(w)	“Completion of the IPO” means the occurrence of the later to occur of (i) settlement of the first sale of Common Stock pursuant to the IPO
Registration Statement and (ii) the listing of the Common Stock on the Exchange, and, if the context so requires, the time of such later occurrence. 

  
 3 

	 	(x)	“COO” means the Chief Operating Officer of the Company from time to time (or the equivalent successor position), as appointed by the Board of
Directors. 

  

	 	(y)	“Coverage Change” has the meaning set forth in Section 6.8(e). 

 

	 	(z)	“CRO” means the Chief Risk Officer of the Company from time to time (or the equivalent successor position), as appointed by the Board of Directors.

  

	 	(aa)	“Critical Policy” has the meaning set forth in Section 6.4(a). 

 

	 	(bb)	“Director” means a member of the Board of Directors and “Directors” has a correlative meaning. 

 

	 	(cc)	“Disclosure Controls and Procedures” means controls and other procedures designed to ensure that information required to be disclosed by the Company
and ING Group under Applicable Law is recorded, processed, summarized and reported within applicable time periods, including controls and procedures designed to ensure that such information is accumulated and communicated to the Company’s
management, including the CEO and CFO, and to ING Group, as appropriate to allow timely decisions regarding required disclosure. 

  

	 	(dd)	“DNB” means De Nederlandsche Bank, or the Dutch National Bank. 

 

	 	(ee)	“DNB Remuneration Framework” means the remuneration framework agreed to between ING Group and DNB and effective as of January 1, 2012, and the
implementing statutes thereof of the Kingdom of the Netherlands, as each shall be amended or revised from time to time. 

  

	 	(ff)	“Equity Awards” means a grant to a Director or employee of the Company of vested or unvested shares of Common Stock or restricted Common Stock, options
to acquire shares of Common Stock, restricted stock units, “phantom” stock units or similar interests in the Company’s common equity, in each case pursuant to an equity compensation plan approved by the Board of Directors.

  

	 	(gg)	“Excess Amount” has the meaning set forth in Section 7.1(e) hereof. 

 

	 	(hh)	“Exchange” means the New York Stock Exchange. 

  

	 	(ii)	“Exchange Act” means the United States Securities Exchange Act of 1934, as amended. 

 

	 	(jj)	“Executive Officer” means the CEO, CFO, COO, CRO and all other persons qualifying as “officers” of the Company for purposes of Rule 16a-1(f)
under the Exchange Act. 

  

	 	(kk)	“First Threshold Date” means the first date on which ING Group ceases to beneficially own at least 35% of the outstanding Common Stock.

  

	 	(ll)	“GAAP” means generally accepted accounting principles in the United States, as in effect from time to time. 

 

	 	(mm)	“Group Director” means a Director designated by ING Group pursuant to its nomination rights set forth in Section 2.2(d) hereof or otherwise
designated in writing by ING Group to the Board of Directors to act in such capacity, and “Group Directors” has a correlative meaning. 

  
 4 

	 	(nn)	“Group Individual” has the meaning set forth in Section 6.8(o). 

 

	 	(oo)	“Group Share Fraction” has the meaning set forth in Section 5.2(b). 

 

	 	(pp)	“IFRS” means International Financial Reporting Standards, as adopted by the European Union. 

 

	 	(qq)	“Indemnifying Party” has the meaning set forth in Section 8.2(a). 

 

	 	(rr)	“Indemnitees” has the meaning set forth in Section 8.2(a). 

 

	 	(ss)	“Independent Director” means a Director who is both (i) a NYSE Independent Director and (ii) “independent” for purposes of Rule
10A-3(b)(1) under the Exchange Act. 

  

	 	(tt)	“ING Group” has the meaning set forth in the preamble to this Agreement. 

 

	 	(uu)	“ING Group Auditor” means the independent certified public accountants responsible for conducting the audit of ING Group’s annual financial
statements. 

  

	 	(vv)	“ING Group Debt Obligations” has the meaning set forth in Section 7.1(b)(iv) hereof. 

 

	 	(ww)	“ING Group Designee” means a Group Director or a person designated by a Group Director for purposes of acting on behalf of ING Group under this
Agreement. 

  

	 	(xx)	“ING Group Guarantees” means the guarantee obligations set forth on Schedule 1.1(xx) hereto. 

 

	 	(yy)	“Information Party” has the meaning set forth in Section 4.8(c) hereof. 

 

	 	(zz)	“Internal Control Over Financial Reporting” means a process designed by, or under the supervision of, the CEO and CFO and effected by the Board of
Directors, Company management and other personnel, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting
principles and includes those policies and procedures that (i) pertain to the maintenance of records that in reasonable detail accurately and fairly reflect the transactions and dispositions of the assets of the Company, (ii) provide
reasonable assurance that transactions are recorded as necessary to permit preparation of financial statements in accordance with generally accepted accounting principles, and that receipts and expenditures of the Company are being made only in
accordance with authorizations of management of the Company and the Board of Directors and (z) provide reasonable assurance regarding prevention or timely detection of unauthorized acquisition, use or disposition of the Company’s assets
that could have a material effect on its financial statements. 

  

	 	(aaa)	“Investment Grade” means a rating of at least “BBB-“ by Standard & Poor’s and at least “Baa3” by Moody’s,
provided that if only one of Standard & Poor’s or Moody’s shall provide a relevant rating, a rating will be “Investment Grade” if it is a rating of at least “BBB-“ by Standard & Poor’s or at least
“Baa3” by Moody’s. 

  

	 	(bbb)	“IPO Registration Statement” means the Registration Statement on Form S-1, as amended, relating to the initial public offering of the Common Stock.

  
 5 

	 	(ccc)	“Lead Director” shall mean the Director designated as such by the Board of Directors pursuant to Section 2.2(f) hereof. 

 

	 	(ddd)	“Letter of Credit” has the meaning set forth in Section 7.1(b)(iii) hereof. 

 

	 	(eee)	“Losses” has the meaning set forth in Section 8.1(a). 

 

	 	(fff)	“Majority Holder Date” means the first date on which ING Group ceases to beneficially own more than 50% of the outstanding Common Stock.

  

	 	(ggg)	“Moody’s” means Moody’s Investors Service, Inc. 

 

	 	(hhh)	“New York Courts” means the Federal and New York State courts located in the Borough of Manhattan in The City of New York. 

 

	 	(iii)	“NYSE Independent Director” means a Director who is “independent” within the meaning of that term used in Rule 303A.02 of the NYSE
Manual. 

  

	 	(jjj)	“NYSE Manual” means the Listed Company Manual of the New York Stock Exchange, as amended. 

 

	 	(kkk)	“Other Agreements” means those agreements, each dated the date hereof, between the Company and ING Group and listed on Schedule 1.1(kkk) hereto.

  

	 	(lll)	“Party” and “Parties” have the respective meanings set forth in the preamble to this Agreement. 

 

	 	(mmm)	“Person” means any individual, corporation, partnership, joint venture, limited liability company, association or other business entity and any trust,
unincorporated organization or government or any agency or political subdivision thereof. 

  

	 	(nnn)	“Purchase Right Shares” has the meaning set forth in Section 5.2(a). 

 

	 	(ooo)	“Purchase Right Share Amount” has the meaning set forth in Section 5.2(b). 

 

	 	(ppp)	“Purchase Right Share Price” has the meaning set forth in Section 5.2(b). 

 

	 	(qqq)	“Qualified Compensation Director” means a Director who is (i) a “Non-Employee Director” as defined in
 Rule 16b-3(b)(3)(i) under the
Exchange Act and (ii) an “outside director” as defined in Treasury Regulations Section 1.162-27(e)(3)(i), provided, however that a Qualified Compensation Director need not satisfy the condition set forth in clause
(ii) until the date of the first regularly scheduled meeting of the shareholders of the Company that occurs more than 12 months after the Completion of the IPO. 

 

	 	(rrr)	“Ratings Standards” means a credit rating of (i) at least “A” by Standard & Poor’s or at least “A2” by
Moody’s and (ii) no lower than “A-“ by Standard & Poor’s and no lower than “A3” by Moody’s. For the avoidance of doubt, the Rating Standards shall not be met unless both Standard &
Poor’s and Moody’s provide current ratings meeting the foregoing criteria. 

  

	 	(sss)	“Registration Rights Agreement” means the registration rights agreement dated the date hereof between the Company and ING Group in the form attached
hereto as Annex A. 

  

	 	(ttt)	“Regulation S-K” means Regulation S-K under the Securities Act and the Exchange Act. 

  
 6 

	 	(uuu)	“Rules” has the meaning set forth in Section 9.2(a). 

 

	 	(vvv)	“SEC” means the United States Securities and Exchange Commission. 

 

	 	(www)	“Second Threshold Date” means the date on which ING Group ceases to beneficially own at least 30% of the outstanding Common Stock.

  

	 	(xxx)	“Securities Act” means the United States Securities Act of 1933, as amended. 

 

	 	(yyy)	“Short Term Funding Instruments” means commercial paper or other debt securities issued by the Company or any Subsidiary having a stated maturity not
exceeding 364 days from the date of issuance. 

  

	 	(zzz)	“Standard & Poor’s” means Standard & Poor’s Ratings Services. 

 

	 	(aaaa)	“Subsidiary” of a Party shall mean any corporation, partnership, joint venture, limited liability company, association or other entity of which such
Party has the ownership, directly or indirectly, of more than fifty percent (50%) of the voting securities or similar ownership interests, including any securities or similar ownership interests which are voting only upon the occurrence of a
contingency where such contingency has occurred and is continuing. For purposes of this Agreement, (i) ING Pomona Holdings LLC and its Subsidiaries shall not be deemed to be Subsidiaries of the Company, (ii) no investment fund, investment
company, collective investment trust or similar vehicle sponsored, formed or seeded by the Company or any of its Subsidiaries shall be deemed to be a Subsidiary of the Company and (iii) the Company and its Subsidiaries shall not be deemed to be
Subsidiaries of ING Group. 

  

	 	(bbbb)	“Third-Party Debt Collateral” has the meaning set forth in Section 7.1(b)(ii) hereof. 

 

	 	(cccc)	“Third Threshold Date” means the date on which ING Group ceases to beneficially own at least 20% of the outstanding Common Stock.

  

	 	(dddd)	“Warrants” means warrants to purchase up to 26,050,846 shares of Common Stock (subject to adjustment pursuant to the Warrant Agreement) at an initial
strike price of $48.75 per share, issued pursuant to the Warrant Agreement, dated as of the date hereof, between the Company and Computershare Inc. and Computershare Trust Company, N.A. 

 

	 	(eeee)	“Wholly Owned Subsidiary” means a Subsidiary, 100% of the Capital Stock of which is owned, directly or indirectly, by a Party.

  

	1.2	Beneficial Ownership 

  

	 	(a)	For purposes of this Agreement, ING Group shall: 

  

	 	(i)	be deemed to beneficially own securities which are beneficially owned by ING Group’s Subsidiaries; and 

 

	 	(ii)	be deemed to be acting on behalf of ING Insurance International B.V. and ING Verzekeringen N.V., in their capacities as holders of legal and economic interests,
respectively, in Common Stock. 

  
 7 

	1.3	Timing of Provisions 

  

	 	(a)	In this Agreement, any provision which applies “until” a specified date shall apply on such specified date, and shall cease to apply on the date immediately
following such specified date. 

  
 8 

 ARTICLE II 
 BOARD OF DIRECTORS AND CORPORATE GOVERNANCE 
  

	2.1	Charter and By-Laws 

  

	 	(a)	The Company has, prior to the Completion of the IPO, filed with the Secretary of State of the State of Delaware, and caused to become effective, the amended and
restated certificate of incorporation attached hereto as Annex B. 

  

	 	(b)	The Board of Directors has, prior to the Completion of the IPO, adopted the amended and restated by-laws attached hereto as Annex C. 

 

	2.2	Board of Directors 

  

	 	(a)	As of, or within a short period of time following, the Completion of the IPO, the Board of Directors shall consist of nine members, and from such time until the
Majority Holder Date, the Company and ING Group shall use their best efforts to cause the Board of Directors to consist of nine members, in each case as follows: 

 

	 	(i)	the CEO; 

  

	 	(ii)	five Group Directors (one or more of which may, at the discretion of ING Group, be Independent Directors); and 

 

	 	(iii)	three Independent Directors (in addition to any Group Directors who are also Independent Directors). 

 

	 	(b)	At all times, at least two of the Independent Directors shall also be Qualified Compensation Directors. 

 

	 	(c)	On and after the first anniversary of the Majority Holder Date, the Board of Directors may reduce the number of Directors on the Board of Directors to no fewer than
seven. 

  

	 	(d)	ING Group shall have the right to include on each Company Slate the following number of Directors, which shall each be designated as “Group Directors”:

  

	 	(i)	Until the Majority Holder Date, a majority of the directors on the Board of Directors (or such lower number as ING Group shall determine); 

 

	 	(ii)	After the Majority Holder Date and until the First Threshold Date: (A) three, if there shall be at such time at least eight Directors on the Board of Directors and
(B) two, if there shall be at such time fewer than eight Directors on the Board of Directors; 

  

	 	(iii)	After the First Threshold Date and until the Third Threshold Date: (A) two, if there shall be at such time at least eight Directors on the Board of Directors and
(B) one, if there shall be at such time fewer than eight Directors on the Board of Directors; and 

  

	 	(iv)	After the Third Threshold Date, none. 

  
 9 

	 	(e)	Until the Third Threshold Date, the Company shall use its best efforts: 

  

	 	(i)	to cause there to be on the Board of Directors at all times that number of Group Directors for which ING Group maintains nomination rights pursuant to
Section 2.2(d); 

  

	 	(ii)	to prevent any change being made to the number of Directors on the Board of Directors without the consent of ING Group; 

 

	 	(iii)	to fill any vacancy on the Board of Directors created by the resignation, removal or incapacity of any Group Director with another Group Director candidate identified
by ING Group, to the extent ING Group would at such time have nomination rights for such Group Director candidate pursuant to Section 2.2(d); and 

  

	 	(iv)	not to permit the removal of any Group Director without ING Group’s consent, to the extent ING Group would at such time have nomination rights for such Group
Director pursuant to Section 2.2(d). 

  

	 	(f)	Until the Third Threshold Date (and after such time, if so determined by the Board of Directors in its sole discretion), if the Board of Directors has appointed a
Chairman who is not an Independent Director: 

  

	 	(i)	the Board of Directors shall designate one of the Independent Directors who is not a Group Director as its “Lead Director”; 

 

	 	(ii)	the Lead Director shall preside over meetings of the Directors held in the absence of any Director who is also an Executive Officer, which meetings shall be held at
least once during each fiscal quarter of the Company (although the parties expect that such meetings will be held more frequently, generally prior to or immediately following each scheduled meeting of the Board of Directors);

  

	 	(iii)	the Lead Director shall preside over meetings of the Independent Directors held in the absence of any Director who is not a NYSE Independent Director, which meetings
shall be held at least annually; and 

  

	 	(iv)	the Lead Director shall have the responsibilities and authority set forth in Schedule 2.2(f) hereto and, to the extent not inconsistent with any other provision of this
Agreement, such additional responsibilities as the Board of Directors may direct from time to time. 

  

	2.3	Audit Committee of the Board 

  

	 	(a)	As of, or within a short period of time following, the Completion of the IPO, the Board of Directors shall have established an audit committee that shall consist of
three Independent Directors. At the option of ING Group, the Board of Directors shall appoint a fourth Director (as designated by ING Group, so long as such Director shall also meet the standard for audit committee membership as set forth in the
NYSE Manual) to the audit committee, who, until the date immediately preceding the first anniversary of the date upon which the IPO Registration Statement becomes effective, need not be an Independent Director. 

 

	 	(b)	At any time during which the Board of Directors includes a Group Director who is also an Independent Director, at least one member of the Audit Committee shall be a
Group Director, so long as such Group Director shall also meet the standards for audit committee membership as set forth in the NYSE Manual. 

  
 10 

	 	(c)	The audit committee shall have responsibilities and authority consistent with Rule 10A-3 under the Exchange Act and Rule 303A.07 of the NYSE Manual, and such
additional responsibilities and authority, not inconsistent with this agreement, as shall be delegated to it by the Board of Directors from time to time. 

  

	 	(d)	The audit committee shall have at all times at least one member who is an “audit committee financial expert” as defined in Item 407(d)(5) of Regulation
S-K under the Exchange Act. 

  

	2.4	Compensation and Benefits Committee of the Board 

  

	 	(a)	As of, or within a short period of time following, the Completion of the IPO, the Board of Directors shall have established a compensation and benefits committee that
shall consist of (i) two or more Independent Directors (at least two of which are Qualified Compensation Directors) and (ii) one or more Group Directors (as determined by the Board of Directors). 

 

	 	(b)	From the Completion of the IPO until the Majority Holder Date, the following provisions will apply: 

 

	 	(i)	the compensation and benefits committee of the Board of Directors shall be responsible for: 

 

	 	(A)	reviewing and approving the compensation of each of the Executive Officers; 

 

	 	(B)	reviewing the equity compensation plans and other compensation plans of the Company, and making recommendations to the Board of Directors as to any changes to such
plans; 

  

	 	(C)	subject to Section 2.4(d) hereof, making recommendations to the Board of Directors as to performance-based awards and target levels under performance-based
compensation arrangements; 

  

	 	(D)	preparing, or supervising the preparation of, the report required by Item 407(e)(5) of Regulation S-K for inclusion in the Company’s proxy statement; and

  

	 	(E)	such other responsibilities, not inconsistent with this Agreement, as shall be delegated to it by the Board of Directors from time to time; and

  

	 	(ii)	the Board of Directors shall be responsible for: 

  

	 	(A)	subject to Section 2.4(d) hereof, approving and adopting the equity compensation plans and other compensation plans of the Company; and 

 

	 	(B)	subject to Section 2.4(d) hereof, approving performance-based awards and target levels under performance-based compensation arrangements. 

 

	 	(c)	On the Majority Holder Date (or on such earlier date as ING Group shall determine), the compensation and benefits committee shall begin to transition to full compliance
with Section 303A.05 of the NYSE Manual, according to the following schedule: 

  

	 	(i)	as of the Majority Holder Date: 

  

	 	(A)	to the extent not already so delegated, the Board of Directors shall delegate to the compensation and benefits committee the responsibilities and authority set forth in
Section 303A.05 of the NYSE Manual; and 

  

	 	(B)	to the extent not already the case, the Board of Directors shall appoint at least one Independent Director to sit on the compensation and benefits committee;

  
 11 

	 	(ii)	 on the 90th day following the Majority Holder Date (or such earlier date as ING Group shall determine), to the extent not already the case, the Board of Directors shall appoint a number of additional Independent
Directors to sit on the compensation and benefits committee so that it shall consist of a majority of Independent Directors (at least two of which are Qualified Compensation Directors); 

 

	 	(iii)	on the anniversary of the Majority Holder Date (or such earlier date as ING Group shall determine), the membership of the compensation and benefits committee shall be
adjusted so that it consists solely of Independent Directors (at least two of which are Qualified Compensation Directors), as determined by the Board of Directors. 

 

	 	(d)	From the Completion of the IPO until the Majority Holder Date, and during any other time that the compensation and benefits committee includes members who are not
Qualified Compensation Directors, the compensation and benefits committee shall maintain a subcommittee consisting solely of two or more Qualified Compensation Directors who shall be responsible for: 

 

	 	(i)	approving any grants of equity or equity-based compensation awards to an Executive Officer or director of the Company; 

 

	 	(ii)	determining performance goals for performance-based compensation of the Executive Officers and the satisfaction thereof; and 

 

	 	(iii)	such other matters as shall be delegated to the subcommittee by the compensation and benefits committee or as shall be required by Applicable Law to be approved or
determined by Qualified Compensation Directors. 

  

	 	(e)	Following the Majority Holder Date, the compensation and benefits committee shall have responsibilities and authority consistent with Rule 303A.05 of the NYSE Manual,
and such additional responsibilities and authority, not inconsistent with this agreement, as shall be delegated to it by the Board of Directors from time to time. Following the Majority Holder Date, the compensation and benefits committee shall also
comply with any rule of the Exchange implementing Rule 10C-1 under the Exchange Act upon the effectiveness of such rule, provided, however, that any phase-in or transition provisions contained in such rule shall be utilized to the extent not
otherwise inconsistent with this Agreement. 

  

	 	(f)	The provisions of this Section 2.4 shall be subject in all respects to the requirements of Section 6.4(c) hereof. 

 

	2.5	Nominating and Governance Committee of the Board 

  

	 	(a)	As of the Completion of the IPO, the Board of Directors shall have established a nominating and governance committee consisting of (i) one or more Independent
Directors and (ii) one or more Group Directors (as determined by the Board of Directors). 

  
 12 

	 	(b)	On the Majority Holder Date (or on such earlier date as ING Group shall determine), the nominating and governance committee shall begin to transition to full compliance
with Section 303A.06 of the NYSE Manual, according to the following schedule: 

  

	 	(i)	as of the Majority Holder Date (or such earlier date as ING Group shall determine), the Board of Directors will appoint at least one Independent Director to the
nominating and governance committee; 

  

	 	(ii)	 on the 90th day following the Majority Holder Date (or such earlier date as ING Group shall determine), the Board of Directors shall appoint a number of Independent Directors to sit on the nominating and governance
committee so that it shall consist of a majority of Independent Directors; 

  

	 	(iii)	on the anniversary of the Majority Holder Date (or such earlier date as ING Group shall determine), the membership of the nominating and governance committee shall be
adjusted so that it consists solely of Independent Directors, as determined by the Board of Directors. 

  

	 	(c)	The nominating and governance committee shall at all times exercise the responsibilities and authority set forth under Rule 303A.04 of the NYSE Manual, and such
additional responsibilities and authority, not inconsistent with this agreement, as shall be delegated to it by the Board of Directors from time to time, subject in each case to ING Group’s nomination rights under Section 2.2(d) hereof.

  

	2.6	Finance Committee of the Board 

  

	 	(a)	As of the Completion of the IPO, the Board of Directors shall have established a finance committee consisting of such Directors as shall be determined by the Board of
Directors and with such responsibilities, not inconsistent with this Agreement, as shall be determined by the Board of Directors. 

  

	2.7	Executive Committee of the Board 

  

	 	(a)	As of the Completion of the IPO, the Board of Directors shall have established an executive committee consisting of: 

 

	 	(i)	The CEO 

  

	 	(ii)	One Independent Director who is not a Group Director; and 

  

	 	(iii)	two Group Directors, one of whom shall be designated by ING Group as an alternate (which alternate shall be considered a member of the Executive Committee of the Board
only when the other Group Director is unable to attend a meeting or cast a vote). 

  

	 	(b)	Following the First Threshold Date, the two Group Directors may be replaced by one or more Directors, as determined by the Board of Directors. 

 

	 	(c)	Until the Majority Holder Date, the executive committee shall only act with the consent of a majority of the members of the committee, which majority must include a
Group Director. 

  

	 	(d)	At any time that a Group Director is a member of the Executive Committee, such Group Director shall be available to the other committee members on short notice
(generally meaning within 24 hours of any communication being sent), or shall provide for the alternate Group Director or for a delegate (who shall also be a Group Director) to be available within such a time period. 

 

	 	(e)	The executive committee shall have such authority as shall be delegated to it by the Board of Directors from time to time; provided, however, that until the Third
Threshold Date, the executive committee shall report promptly to the Board of Directors any actions or decisions it has taken in reliance on its delegated authority. 

  
 13 

	2.8	Management Risk Committee 

  

	 	(a)	As of the Completion of the IPO, the Board of Directors shall have established a management risk committee, which shall be a management committee and which shall report
periodically to the audit committee of the Board of Directors. 

  

	 	(b)	The management risk committee shall consist of (i) the CRO and (ii) such other employees of the Company as shall be appointed from time-to-time by the CEO.

  

	 	(c)	Until the Third Threshold Date, ING Group shall be entitled to appoint up to three observers to attend each meeting of the management risk committee, and shall be
entitled to receive all materials, reports and other communications from the management risk committee. The presence or participation of such observers shall not be required for the management risk committee to act, provided, however, that such
presence or participation may not be interfered with by the Company. 

  

	 	(d)	The management risk committee shall be the principal management committee of the Company responsible for assisting the audit committee and the Board of Directors in
monitoring the Company’s risk and capital profile and policies. The Board of Directors shall be entitled to receive reports directly from the Company’s CRO. 

 

	2.9	Management Investment Committee 

  

	 	(a)	As of the Completion of the IPO, the Board of Directors shall have established a management investment committee, which shall be a management committee and which shall
report periodically to the Board of Directors. 

  

	 	(b)	The management investment committee shall consist of such employees of the Company as shall be appointed from time-to-time by the CEO. 

 

	 	(c)	Until the Third Threshold Date, ING Group shall be entitled to appoint up to three observers to attend each meeting of the management investment committee, and shall be
entitled to receive all materials, reports and other communications from the management investment committee. The presence or participation of such observers shall not be required for the management investment committee to act, provided, however,
that such presence or participation may not be interfered with by the Company. 

  

	 	(d)	The management investment committee shall be the principal management committee of the Company responsible for setting the Company’s investment policies and
practices subject to approval by the Board of Directors, monitoring the Company’s general account and other investments and assisting the Board of Directors in its oversight of these matters. 

 

	2.10	Implementation 

  

	 	(a)	The Company shall make such disclosures, and shall take such other steps, as shall be required to avail itself of such exemptions from Exchange rules and other
Applicable Law so as to permit the full implementation of this Article II. 

  
 14 

	 	(b)	Any determination by or consent of ING Group pursuant to this Article II shall be evidenced in a writing signed by (i) at least two of the Group Directors, if at
such time two or more Group Directors shall hold office or (ii) one Group Director, if at such time only one Group Director shall hold office. 

  

	 	(c)	For the avoidance of doubt, except as expressly stated above, Group Directors (i) shall not be required to be Independent Directors or meet any standard of
independence from the Company and (ii) may be officers or employees of ING Group, but not of the Company. 

  
 15 

 ARTICLE III 
 GROUP APPROVAL AND CONSENT RIGHTS 
  

	3.1	ING Group Approval and Consent Rights at Thirty Percent Threshold 

  

	 	(a)	Until the Second Threshold Date, the Company shall not (either directly or indirectly through a Subsidiary, or through one or a series of related transactions) take any
of the following actions without the prior written consent of ING Group: 

  

	 	(i)	Any merger, consolidation or similar transaction (or any amendment to or termination of an agreement to enter into such a transaction) involving the Company or any
Subsidiary of the Company, on the one hand, and any other Person, on the other hand; other than (A) an acquisition of 100% of the Capital Stock of such other Person or (B) disposition of 100% of the Capital Stock of a Subsidiary of the
Company, in each case (x) involving consideration not exceeding $1 billion and (y) where none of (1) the book value of the assets or liabilities or (2) the sum of the assets under management and assets under administration of
such Person exceeds $5 billion.; 

  

	 	(ii)	Any acquisition or disposition of securities, assets or liabilities (including through reinsurance transactions) involving consideration or book value greater than
$1 billion, other than transactions involving assets invested in the Company’s consolidated general account and approved in accordance with the Company’s established policies and procedures to monitor invested assets;

  

	 	(iii)	Any increase or decrease in the authorized Capital Stock of the Company, or the creation of any new class or series of Capital Stock of the Company;

  

	 	(iv)	Any issuance or acquisition (including stock buy-backs, redemptions and other reductions of capital) of Capital Stock of the Company or any of its Subsidiaries, except:

  

	 	(A)	issuances of Equity Awards; 

  

	 	(B)	issuances of Capital Stock of a Subsidiary to a Wholly Owned Subsidiary, or acquisitions of Capital Stock of a Subsidiary by a Wholly Owned Subsidiary; and

  

	 	(C)	issuances or acquisitions of Capital Stock that, in the express judgment of the Board of Directors as stated in the authorizing resolutions thereof, are necessary to
maintain (x) adequate capitalization of the Company or any Subsidiary, (y) compliance with covenants contained in any instrument under which the Company or any Subsidiary has issued indebtedness or (z) compliance with Applicable Law.

  

	 	(v)	Any issuance or acquisition (including redemptions, prepayments, open-market or negotiated repurchases or other transactions reducing the outstanding debt of the
Company or any Subsidiary) of any debt security of the Company or any Subsidiary, in each case involving an aggregate principal amount exceeding $1 billion, except Short Term Funding Instruments and Capital Management Facilities;

  

	 	(vi)	Any other incurrence of a debt obligation of the Company or any Subsidiary having a principal amount greater than $1 billion, except Capital Management Facilities;

  
 16 

	 	(vii)	Entry into or termination of any joint venture or cooperation arrangements involving assets having a value exceeding $1 billion; 

 

	 	(viii)	The listing or delisting of securities of the Company or any of its Subsidiaries on a securities exchange, other than the listing or delisting of debt securities on the
Exchange or any other securities exchange located solely in the United States; 

  

	 	(ix)	Any amendments to the charter (or equivalent authorizing document) of the management risk committee or the management investment committee that affects (A) the
obligations of such committees to report their activities (or those of their respective subcommittees) to the Board of Directors or (B) the scope of authority of such committees; 

 

	 	(x)	The amendment (or approval or recommendation of the amendment) of the Company’s certificate of incorporation or by-laws; 

 

	 	(xi)	With respect to the Company or any Subsidiary, any filing or the making of any petition under Bankruptcy Laws, any general assignment for the benefit of creditors, any
admission of an inability to meet obligations generally as they become due or any other act the consequence of which is to subject the Company or any Subsidiary to a proceeding under Bankruptcy Laws; or 

 

	 	(xii)	Any dissolution or winding-up of the Company. 

  

	3.2	Implementation 

  

	 	(a)	The consent or approval of ING Group for any action for which ING Group has consent or approval rights under this Article III shall be evidenced in a writing signed
(i) at least two of the Group Directors, if at such time two or more Group Directors shall hold office or (ii) one Group Director, if at such time only one Group Director shall hold office. 

 

	 	(b)	In exercising its rights pursuant to this Article III, ING Group shall periodically consult with the Independent Directors, through the Lead Director, and consider in
good faith their views. 

  
 17 

 ARTICLE IV 
 INFORMATION, DISCLOSURE AND FINANCIAL ACCOUNTING 
  

	4.1	Information Rights During Equity Accounting Periods 

  

	 	(a)	The Company agrees that, during a period that beginning when Section 4.2 hereof ceases to apply and ends on the later of (A) ING Group being no longer
required under IFRS (x) to account in its financial statements for its holdings in the Company under an equity method or (y) to consolidate the financial statements of the Company with its financial statements and (B) the Third
Threshold Date, unless ING Group shall earlier provide written notice to the Company that it is opting-out of this Section 4.1, the Company shall provide ING Group with (i) information and data relating to the business and financial
results of the Company and its Subsidiaries and (ii) access, during usual business hours, to the Company’s personnel, data and systems, in each case to the extent that such information, data or access is required for ING Group to meet its
legal, financial or regulatory obligations or requirements (as determined by ING Group in its reasonable judgment). 

  

	4.2	Information Rights During Full Consolidation Periods 

  

	 	(a)	The Company agrees that, so long as ING Group is required under IFRS to consolidate the financial statements of the Company with its financial statements, and in any
case for all financial periods commencing prior to the Majority Holder Date: 

  

	 	(i)	General Principles. The Company shall continue to provide ING Group with (A) information and data relating to the business and financial results of the
Company and its Subsidiaries and (B) access to the Company’s personnel, data and systems, in each case in the same manner as it does immediately prior to the Completion of the IPO; 

 

	 	(ii)	Accounting Systems and Principles. The Company shall maintain accounting principles, systems and reporting formats that are consistent with ING Group’s
financial accounting practices in effect as of the Completion of the IPO, and shall thereafter in good faith consider any changes to such principles, systems or reporting formats requested by ING Group; 

 

	 	(iii)	Controls and Procedures. The Company shall, and shall cause each of its Subsidiaries, to: 

 

	 	(A)	maintain Disclosure Controls and Procedures; 

  

	 	(B)	maintain Internal Control Over Financial Reporting; and 

  

	 	(C)	provide quarterly certifications from its relevant officers and employees regarding Disclosure Controls and Procedures and Internal Control Over Financial Reporting, in
accordance with ING Group’s internal standards; and 

  

	 	(iv)	Advance Notice. The Company shall inform ING Group promptly of any events or developments that might reasonably be expected to materially affect the
Company’s financial results. 

  

	 	(b)	In connection with its provision of information to ING Group pursuant to Section 4.2(a) hereof, the Company may implement reasonable procedures to restrict access
to such information to only those persons who ING Group reasonably determines have a need to access such information. For the avoidance of doubt, the provisions of Section 10.8 hereof shall apply to all information provided to ING Group
pursuant to Section 4.2(a) hereof. 

  
 18 

	4.3	General Information Requirements 

  

	 	(a)	All information provided by the Company or any of its Subsidiaries to ING Group pursuant to Sections 4.1 and 4.2 shall be in the format and detail as reasonably
requested by ING Group. All financial statements and information provided by the Company or any of its Subsidiaries to ING Group pursuant to Sections 4.1 and 4.2 shall be provided under IFRS with a reconciliation to GAAP; 

 

	 	(b)	ING Group shall provide the Company with all software and other applications necessary for the Company to prepare and submit to ING Group the required financial
information including software and other applications to reconcile the income, equity and any required balance sheet accounts from the Company’s financial statements to the required ING Group accounting. ING Group shall provide the Company with
at least 30 days’ notice of any change in its administrative practices and policies as they relate to the obligations of the Company pursuant to Section 4.3(a), including any change in such policies relating to reporting times and delivery
methods. 

  

	 	(c)	With respect to any information provided by the Company or any of its Subsidiaries to ING Group that is contained in, or used in the preparation of, any public
disclosure of ING Group, the Company shall not provide any such information that contains an untrue statement of a material fact, or omits to state a material fact necessary to make such information not misleading. 

 

	4.4	Reporting Coordination Committee 

  

	 	(a)	To facilitate the coordination of financial reporting, the Company and ING Group shall establish a Reporting Coordination Committee, which shall have a membership that
includes (i) the Controller of the Company or his or her designee, (ii) a senior member of the Group accounting group and (iii) such other members as shall be mutually agreed between the Company and ING Group.

  

	 	(b)	The Reporting Coordination Committee shall meet at least quarterly to (i) monitor the financial reporting protocols between the Company and ING Group and make
recommendations as to any appropriate changes; (ii) determine appropriate reporting deadlines consistent with the public reporting obligations of the Company and ING Group; and (iii) make such other determinations regarding reporting
procedures, technologies and personnel as shall be necessary or advisable to facilitate accurate and efficient financial reporting between the Company and ING Group. 

 

	4.5	Matters Concerning Auditors 

  

	 	(a)	Until the date on which ING Group is no longer required under IFRS to consolidate the Company’s financial statements with its financial statements, ING Group shall
have full access, during usual business hours, to the Company Auditor and to the Company’s internal audit function (through the Company’s head of internal audit), including access to work papers and the personnel responsible for conducting
the Company’s quarterly reviews and annual audit, and shall be provided with copies of all material correspondence between the Company and the Company Auditor. 

 

	 	(b)	Until the Third Threshold Date: 

  

	 	(i)	 the Company shall provide ING Group with reasonable access to the Company Auditor and to the Company’s internal audit function (through the
Company’s 

  
 19 

	 	
head of internal audit) and shall extend all reasonably requested cooperation with the ING Group Auditor in connection with ING Group’s internal and external audit function;

  

	 	(ii)	the Company shall use its reasonable best efforts to enable the Company Auditor to complete its quarterly review and annual audit such that it shall date its report on
such quarterly review or opinion on the Company’s audited annual financial statements on or before the date that the ING Group Auditor date their report or opinion on ING Group‘s financial statements, and to enable ING Group to meet its
timetable for the printing, filing and public dissemination of its financial statements. The Company shall instruct the Company Auditor to perform the work requested by the ING Group Auditor pursuant to this Agreement and the Company shall use its
reasonable best efforts to enable the Company Auditor to comply with the instruction received; 

  

	 	(iii)	upon reasonable notice, the Company shall authorize the Company Auditor to make available to the ING Group Auditor both the personnel responsible for conducting the
Company’s quarterly reviews and annual audit and, consistent with customary professional practice and courtesy of such auditors with respect to the furnishing of work papers, work papers related to the quarterly review or annual audit of the
Company, in all cases within a reasonable time after the Company Auditor’s opinion date, so that the ING Group Auditor are able to perform the procedures they consider necessary to take responsibility for the work of the Company Auditor as it
relates to the ING Group Auditor’ report on ING Group’s financial statements, all within sufficient time to enable ING Group to meet its timetable for the printing, filing and public dissemination of its financial statements; and

  

	 	(iv)	subject to Applicable Law (including Rule 10A-3 under the Exchange Act), the Company shall not change the Company Auditor without the approval of ING Group.

  

	 	(c)	Neither ING Group nor the Company shall take any action that would cause either the Company Auditor or the ING Group Auditor, respectively, not to be independent with
respect to the Company or ING Group. 

  

	4.6	Release of Information and Public Filings 

  

	 	(a)	Until the Third Threshold Date: 

  

	 	(i)	the Company shall co-ordinate with ING Group with respect to the public release of any material information relating to the Company. The Company shall, to the extent
practicable, provide ING Group with a copy of any such proposed public release no later than two Business Days prior to publication, and shall consider in good faith incorporating any comments provided thereon by ING Group prior to such publication;

  

	 	(ii)	The Company and ING Group shall consult on the timing of their annual and quarterly earnings releases and, to the extent practicable, each Party shall give the other
Party an opportunity to review the information therein relating to the Company and its Subsidiaries and to comment thereon. In the event that the Company is required by Applicable Law to publicly release information concerning the Company’s
financial information for a period for which ING Group has yet to publicly release financial information, the Company shall provide ING Group notice of such release of such information as soon as practicable prior to such release of such
information; and 

  
 20 

	 	(iii)	each of ING Group and the Company shall take reasonable steps to co-operate with each other in connection with the preparation, printing, filing, and public
dissemination of their respective annual and quarterly statutory statements, their respective audited annual financial statements, their respective annual reports to shareholders, their respective annual, quarterly and current reports under the
Securities Acts, any prospectuses and other filings made with the Securities Commissions, federal or state insurance requirements or any other required regulatory filings. 

 

	 	(b)	Until the Majority Holder Date: 

  

	 	(i)	ING Group shall have the rights with respect to all public communications and filings by the Company set forth in Schedule 4.6(b) hereto, provided, however that
such rights shall not apply to the extent that they would prevent the Company from complying with its disclosure or other obligations under Applicable Law. 

 

	4.7	Information in Connection with Regulatory or Supervisory Requirements 

 

	 	(a)	During any period in which ING Group is deemed to control the Company for U.S., European Commission, or The Netherlands regulatory purposes, and in any case at all
times prior to the Third Threshold Date: 

  

	 	(i)	the Company shall: 

  

	 	(A)	provide, as promptly as reasonably possible but in any case within three business days of any request from ING Group (unless not reasonably available within such time,
in which case as soon as possible thereafter), any information, records or documents (x) requested or demanded by any governmental, regulatory, judicial, supra-national or self-regulatory authority having jurisdiction or oversight authority
over ING Group or any of its Subsidiaries (including, for the avoidance of doubt, DNB and the European Commission) or (y) deemed necessary or advisable by ING Group in connection with any filing, report, response or communication made by ING
Group or its Subsidiaries with or to an authority referred to in clause (x) of this Section 4.7(a)(i)(A) (whether made pursuant to specific request from such authority or in the ordinary course); and 

 

	 	(B)	upon reasonable notice, provide access to any governmental, regulatory, judicial, supra-national or self-regulatory authority having jurisdiction or oversight authority
over ING Group or any of its Subsidiaries (including, for the avoidance of doubt, DNB and the European Commission) to its offices, employees and management in a reasonable manner where and as required under Applicable Law; and

  

	 	(ii)	ING Group shall provide, as promptly as reasonably possible but in any case within three business days of any request from the Company (unless not reasonably available
within such time, in which case as soon as possible thereafter), any information, records or documents (A) requested or demanded by any governmental, regulatory, judicial, supra-national or self-regulatory authority having jurisdiction or
oversight authority over the Company or any of its Subsidiaries; or (B) deemed necessary or advisable by the Company in connection with any filing, report, response or communication by the Company or its Subsidiaries with or to an authority
referred to in clause (A) of this Section 4.7(a)(ii) (whether made pursuant to specific request from such authority or in the ordinary course). 

  

	 	(b)	Each of ING Group and the Company shall use reasonable efforts to keep the other Party informed of the type of information it expects to require on a regular basis in
order to meet its reporting or filing obligations with the authorities referred to in Section 4.7(a), above, and the timing of such requirements, however no failure to abide by this Section 4.7(b) shall affect the validity of any demand
made pursuant to Section 4.7(a). 

  
 21 

	4.8	Implementation with Respect to Legal Disclosures 

  

	 	(a)	All requests for information or documents relating to legal or regulatory matters or with respect to which legal privilege may be sought or asserted under Sections 4.1,
4.2, 4.7(a)(i) or 6.5 shall be made solely to the office of the Chief Legal Officer of the Company, and all responses thereunder shall be made solely to the office of the General Counsel of ING Group. For the avoidance of doubt, such information or
documents contained in databases, reports or systems of the Company to which ING Group has unrestricted access prior to the date hereof may be redacted, or access to the relevant databases, reports or systems may be restricted or denied, to the
extent necessary so that such information and documents are handled in accordance with this Section 4.8. 

  

	 	(b)	All requests for information or documents under Sections 4.7(a)(ii) shall be made solely to the office of the General Counsel of ING Group, and all responses thereunder
shall be made solely to the office of the Chief Legal Officer of the Company. 

  

	 	(c)	If the party required to deliver the information or documents pursuant to this Section 4.8 (the “Information Party”) believes in good faith, based
upon legal advice (from internal or external counsel), that the delivery of any information or documents pursuant to this Agreement would cause the loss of any applicable legal privilege (or create a risk of such loss), then both parties will work
in good faith to determine an alternate means of delivering the requested information or documents, or the substance thereof, that does not result in the loss of such privilege. If needed to preserve a privilege, the Company and ING Group agree
to enter into a common interest agreement, in substantially the form attached hereto as Annex D, in advance of, and as a condition to, such delivery. Notwithstanding the foregoing, if no alternate means can be agreed by the parties and external
counsel to the Information Party informs the other party in writing that a common interest cannot be established, or with sufficient confidence be asserted, to preserve the legal privilege with respect to the information or documents in question,
even if a common interest agreement were to be entered into, or that for any other reason the information or documents cannot be delivered without loss of the privilege (such counsel to explain the reasons for its conclusion briefly but in
reasonable detail so that the other party can review the legal analysis with its own counsel), then the Information Party is excused from providing such information or documents but only to the extent and for the time necessary to preserve the
privileged character thereof. 

  

	4.9	Expenses 

  

	 	(a)	The Company shall be responsible for any expenses it incurs in connection with the fulfillment of its obligations under this Article IV, except (i) out-of-pocket
expenses incurred with respect to specific requests by ING Group for information, documents or access, in excess of amounts historically incurred by the Company (if any) for the provisions of similar information, documents and access; (ii) to
the extent expressly agreed between ING Group and the Company prior to the incurrence of any specific expenses; and (iii) any incremental out-of-pocket expense incurred in connection with the acquisition of the software and applications
referred to in Section 4.3(b) hereof (in excess of expenses that would otherwise be incurred by the Company in the absence of such section). 

  
 22 

 ARTICLE V 
 SUBSEQUENT SALES OF COMMON STOCK 
  

	5.1	Registration Rights 

  

	 	(a)	The Parties shall execute and deliver, concurrently with the execution and delivery of this Agreement, the Registration Rights Agreement. 

 

	5.2	Equity Purchase Rights 

  

	 	(a)	As soon as practicable after determining to issue any shares of Common Stock or securities convertible or exchangeable for Common Stock (“Purchase Right
Shares”), but in any event no fewer than ten Business Days prior to entering into a binding agreement to issue Purchase Right Shares to any person other than ING Group or its Subsidiaries (a “Purchase Right Transaction”),
the Company shall, in writing, offer, subject to consummation of the Purchase Right Transaction, to sell to ING Group (which offer may be assigned by ING Group to a Subsidiary of ING Group) the Purchase Right Share Amount at the Purchase Right Share
Price. The Company shall describe the proposed Purchase Right Transaction in reasonable detail in such written offer, including the range of prices (which may be expressed in terms of discount and / or premium to the trading price of Common Stock at
the time the Company enters into a binding agreement to issue Purchase Right shares or consummates the Purchase Right Transaction) within which the Company reasonably expects to sell Purchase Right Shares in the Purchase Right Transaction.

  

	 	(b)	For purposes of this Section 5.2, the “Purchase Right Share Price” shall be the lowest purchase price (which need not be determined until the time
at which the Company enters into definitive documentation with respect to the Purchase Right Transaction), if any, to be paid by the transferee(s) of Purchase Right Shares; and the “Purchase Right Share Amount” shall be that number
of the Purchase Right Shares as is equal to the amount obtained by multiplying the total number of Purchase Right Shares by a fraction (the “Group Share Fraction”), the numerator of which is the number of shares of Common Stock
beneficially owned by ING Group, and the denominator of which is the total number of shares of Common Stock outstanding, in each case as of the time that the Company makes the offer to ING Group pursuant to Section 5.2(a) hereof.

  

	 	(c)	 If the offer referred to in Section 5.2(a) hereof is irrevocably accepted (subject only to required regulatory approvals, if any) in writing
within five Business Days after such offer is delivered to ING Group, then, only in the event that the Purchase Right Transaction is consummated and the price per Purchase Right Share falls within the price range set forth in the written offer
delivered to ING Group in accordance with Section 5.2(a), the Company shall sell to ING Group (or its Subsidiary, as the case may be), and ING Group (or its Subsidiary, as the case may be) shall purchase from the Company, that number of
Purchase Right Shares as is equal to the Purchase Right Share Amount, at the Purchase Right Share Price. If the Company determines in good faith that it must consummate the Purchase Right Transaction prior to any regulatory approvals necessary for
the sale of Purchase Right Shares to ING Group (or its Subsidiary, as applicable) having been obtained, the Company shall notify ING Group in writing of such determination and shall then be free to consummate the Purchase Right Transaction prior to
consummating the sale of Purchase Right Shares to ING Group (or its Subsidiary, as applicable); provided, however, that in such event the Company and ING Group (or its Subsidiary, as applicable) shall consummate the sale of Purchase Right Shares as
promptly as practicable after all required regulatory approvals have been obtained; and provided, further, that the Purchase Right Share Amount shall be increased, as necessary, so that the Group Share Fraction, if it were to be calculated
immediately following such consummation, would be equal to the Group Share Fraction as calculated at the time of 

  
 23 

	 	
the offer made pursuant to Section 5.2(a) hereof. The obligation of the Company to sell, and ING Group (or its Subsidiary, as applicable) to purchase such Purchase Right Shares shall
terminate if all such required regulatory approvals shall not have been obtained by the 120th day following the closing of the Purchase Right Transaction. 

  

	 	(d)	If the offer referred to in Section 5.2(a) hereof is not irrevocably accepted (subject only to required regulatory approvals, if any) in writing within five
Business Days after such offer is delivered to ING Group, the Company will be free to consummate the Purchase Right Transaction described in the written offer delivered to ING Group in accordance with Section 5.2(a), within the price range
described in such written offer, without selling any Purchase Right Shares to ING Group or its Subsidiaries. The Company shall not consummate any Purchase Right Transaction other than (i) a Purchase Right Transaction described in the previous
sentence or (ii) a Purchase Right Transaction described in Section 5.2(c) that is consummated within the price range described in a written offer to ING Group in accordance with Section 5.2(a). For the avoidance of doubt, nothing in
this Section 5.2 shall affect the approval rights of ING Group contained in Section 3.1 hereof. 

  

	 	(e)	The purchase and sale of any Purchase Right Shares pursuant to this Section 5.2 shall take place concurrently with the closing of the Purchase Right Transaction,
or, if a concurrent closing is not practicable, as promptly as practicable thereafter. At the time of purchase, the Company shall deliver to ING Group (or its Subsidiary, as the case may be) certificates (or, in the event that the Company issues
securities to a third party in an uncertificated form, other evidence of ownership) registered in the name of ING Group (or its Subsidiary, as the case may be) representing the Purchase Right Shares purchased, and ING Group (or its Subsidiary, as
the case may be) shall transfer to the Company the purchase price therefor in United States dollars by bank check or wire transfer of immediately available funds, as specified by the Company, to an account designated by the Company not less than
five Business Days prior to the date of purchase. 

  

	 	(f)	The Company and ING Group each agree to use all commercially reasonable efforts to obtain any regulatory, stock exchange, or other approval required for any purchase of
Purchase Right Shares by ING Group (or its designated Subsidiary) pursuant to this Section 5.2. 

  

	 	(g)	Notwithstanding the foregoing, the provisions of paragraphs (a) to (f) of this Section 5.2 shall not apply to Purchase Right Shares issued:

  

	 	(i)	as consideration for mergers, acquisitions and exchange offers; 

  

	 	(ii)	as Equity Awards; 

  

	 	(iii)	pursuant to the underwriting agreement for the initial public offering of the Common Stock, including any “greenshoe” or over-allotment option;

  

	 	(iv)	as part of any transaction approved by ING Group pursuant to its consent rights set forth in Section 3.1 hereof, unless otherwise provided in such consent (for the
avoidance of doubt, paragraphs (a) to (f) of this Section 5.2 shall apply to any such issuances pursuant to Section 3.1(a)(iv)(C)); or 

  

	 	(v)	at any time after ING Group ceases to beneficially own at least 20% of the outstanding Common Stock. 

 

	5.3	Lock-Up Provisions 

  

	 	(a)	 In connection with any underwritten offering of Common Stock (whether or not pursuant to the Registration Rights Agreement), the Company shall, and
shall cause the Executive 

  
 24 

	 	
Officers and Directors to, and, prior to the Third Threshold Date, ING Group shall, agree with the underwriters in such offering to a lock-up period of up to 90 days (as determined by the
underwriters), subject to customary extension provisions and carve-outs. 

  

	 	(b)	Notwithstanding Section 5.3(a) hereof, ING Group shall not be obligated to agree to any lock-up period during which it would be prevented from selling all or any
portion of its Common Stock in privately negotiated transactions that are not executed through the facilities of a securities exchange. 

  

	5.4	Warrants 

  

	 	(a)	The Company shall issue the Warrants to ING Group or its designated Subsidiary, prior to or concurrently with the execution and delivery hereof.

  
 25 

 ARTICLE VI 
 OTHER PROVISIONS 
  

	6.1	Other Arrangements 

  

	 	(a)	ING Group and the Company each agree that, to the extent that other services provided by ING Group and the Company to each other, or other arrangements and practices
between ING Group and the Company, are not otherwise specifically covered by this Agreement or by the Other Agreements, ING Group and the Company shall co-operate with each other to mutually agree on how such service, arrangement or practice shall
be continued or discontinued, as applicable, and each of ING Group and the Company agree to negotiate in good faith to reach such mutual agreement. 

  

	6.2	Other Agreements 

  

	 	(a)	The Parties shall execute and deliver, concurrently with the execution and delivery of this Agreement, the Other Agreements. 

 

	6.3	Related Party Transaction Policy 

  

	 	(a)	The review and approval of a committee consisting of no fewer than three Independent Directors, and chaired by the Lead Director (if any shall have been appointed at
such time), shall be required prior to the Company entering into: 

  

	 	(i)	any transaction that would be reportable by the Company pursuant to Item 404(a) of Regulation S-K in the Company’s subsequent Annual Report on Form 10-K;
and 

  

	 	(ii)	any material amendment to this Agreement or the Other Agreements. 

  

	 	(b)	No Independent Director who has a material interest in a transaction referred to in Section 6.3(a) shall be eligible to sit on a committee considering such
transaction, and if at any time there are fewer than three Independent Directors eligible to sit on such a committee, the committee may consist of no fewer than two Independent Directors. 

 

	 	(c)	Prior to the Completion of the IPO, the Board of Directors has adopted the Related Party Transaction Policy attached hereto as Annex E. 

 

	6.4	Certain Policies and Procedures 

  

	 	(a)	Until the Majority Holder Date, the Board of Directors shall, when determining to implement, amend or rescind any policy of the Company or any of its Subsidiaries
relating to risk, capital, investment, environmental and social responsibility or regulatory compliance (each, a “Critical Policy”), take into account the Company’s status as a consolidated Subsidiary of ING Group, and take
into account the interests of ING Group therein; 

  

	 	(b)	During any period in which ING Group is deemed to control the Company for U.S., European Commission or The Netherlands regulatory purposes, and in any case at all times
prior to the Third Threshold Date, the Company: 

  

	 	(i)	shall not adopt or implement any policies or procedures, and at ING Group’s reasonable request, shall refrain from taking any actions, that would cause ING Group
to violate any Applicable Law to which ING Group is subject; 

  
 26 

	 	(ii)	shall, prior to implementing, amending or rescinding any Critical Policy, consult with ING Group (though one or more Group Directors, if any shall be in office at such
time, or else through the General Counsel of ING Group); and, to the extent consistent with its fiduciary duties, the Board of Directors shall take into account the reasonable interests of ING Group with respect thereto; and

  

	 	(iii)	shall maintain and observe the policies of ING Group to the extent necessary for ING Group to comply with its legal and regulatory obligations;

 provided, that, for the avoidance of doubt, this Section 6.4(b) shall not require the Company to
take any action (including adopting or implementing any policy) or refrain from taking any action where such action or inaction would cause the Company to violate Applicable Law. 

 

	 	(c)	Until the date on which ING Group is no longer required under IFRS to consolidate the Company’s financial statements with its financial statements, the Company
shall maintain remuneration practices and policies which comply with the DNB Remuneration Framework, including subjecting the compensation arrangements of all employees covered by the DNB Remuneration Framework to the approval of the Supervisory
Board of ING Group. 

  

	 	(d)	The Company will fully cooperate with the requirements of the European Commission decision of November 16, 2012 or any other requirements imposed by the European
Commission as a consequence of state aid received by ING Group. 

  

	6.5	Access to Personnel and Data 

  

	 	(a)	In addition to the specific rights of ING Group set forth elsewhere in this Agreement, until the Majority Holder Date and subject to Section 4.8 hereof:

  

	 	(i)	the Company shall continue to provide representatives of ING Group with reasonable access to the Company’s personnel (including senior-level management and other
employees) and data, in a manner consistent with the status of the Company as a consolidated Subsidiary of ING Group; and 

  

	 	(ii)	ING Group shall continue to provide representatives of the Company with reasonable access to ING Group’s personnel (including senior-level management and other
employees) and data, in a manner consistent with the status of ING Group as the corporate parent of the Company. 

  

	6.6	Internal Communications Protocols 

  

	 	(a)	In addition to the specific rights of ING Group set forth elsewhere in this Agreement, until the Third Threshold Date, the Company and ING Group agree to mutually
consult with respect to internal communications of the Company which could reasonably be expected to be material to ING Group. 

  

	6.7	Access to Historical Records 

  

	 	(a)	 For a period of two years following the Third Threshold Date, subject to an extension of up to ten years upon the demonstration of a legal, tax or
regulatory requirement for such extension by the requesting Party, ING Group and the Company shall retain the right to access such records of the other which exist resulting from ING Group’s control or ownership of all or a portion of the
Company. Upon reasonable notice and at each Party’s own expense, ING Group (and its authorized representatives) and the Company (and its authorized representatives) shall be afforded access to such records at reasonable times

  
 27 

	 	
and during normal business hours and each Party (and its authorized representatives) shall be permitted, at its own expense, to make abstracts from, or copies of, any such records; provided,
access to such records may be denied if (i) ING Group or the Company, as the case may be, cannot demonstrate a legitimate business need (during the two year period following the Third Threshold Date), or a legal or regulatory requirement
(during the extension period described above), for such access to the records; (ii) the information contained in the records is subject to any applicable confidentiality commitment to a third party; (iii) a bona fide competitive
reason exists to deny such access; (iv) the records are to be used for the initiation of, or as part of, a suit or claim against the other Party; (v) such access would serve as a waiver of any privilege afforded to such record; or
(vi) such access would unreasonably disrupt the normal operations of ING Group or the Company, as the case may be. 

  

	6.8	Indemnification; Liability Insurance 

  

	 	(a)	Until at least the day after the last date on which a Group Individual is a Director, officer or employee of the Company, the Company shall grant indemnification
(including advancement of expenses) to each such Director, officer and employee of the Company to the greatest extent permitted under Section 145 of the General Corporation Law of the State of Delaware and other Applicable Law, as may be
amended from time to time. Such indemnification and advancement shall continue as to any Group Individual (i) who becomes entitled to indemnification or advancement on or prior to such date, notwithstanding any change (except those changes
made as required by applicable law) in the Company’s indemnification or advancement policies following such date, and (ii) with respect to liabilities existing or arising from events that have occurred on or prior to such date,
notwithstanding such Group Individual’s ceasing to be a Director, officer or employee of the Company. 

  

	 	(b)	As of the date of this Agreement, the Company has insurance coverage with respect to (i) director and officer liability (“D&O Coverage”) and
fiduciary liability (“Fiduciary Coverage”) covering Directors, officers and employees of the Company, including Group Individuals serving in any such capacity at the Company, and (ii) liabilities under U.S. federal and state
securities laws (“Securities Coverage” and, together with the D&O Coverage and the Fiduciary Coverage, the “Agreed Coverage”) covering Directors, officers and employees of the Company, Group Individuals, the Company, ING
Group and respective Subsidiaries of the Company and ING Group equally and to the same extent. 

  

	 	(c)	Subject to the provisions of this Section 6.8, the D&O Coverage and Fiduciary Coverage shall be renewed annually and kept in force by the Company on
substantially the same terms in order to cover any claims made on or prior to the sixth anniversary of the last date on which any Group Individual is a Director, officer or employee of the Company. The Company shall be responsible for the cost of
D&O Coverage and Fiduciary Coverage that covers Directors, officers and employees of the Company, including Group Individuals serving in any such capacity at the Company. 

 

	 	(d)	 Subject to the provisions of this Section 6.8, the Securities Coverage shall be renewed annually by the Company on substantially the same terms in
order to cover any claims made on or prior to the sixth anniversary of the last date on which the closing occurred for any offering of securities by the Company (i) in which ING Group or any of its Subsidiaries is a selling or controlling
securityholder, (ii) completed while any Group Individual is a Director (or was named in the Registration Statement of the Company under the Securities Act for such offering as about to become a Director of the Company), officer, employee of
the Company or (iii) completed prior to the termination of this Agreement (excluding those provisions of this Agreement that are expressly stated to survive such termination in Section 10.15(a) hereof). The Company shall be responsible for
the cost of that portion of the Securities Coverage that covers Directors, officers and 

  
 28 

	 	
employees of the Company, including Group Individuals serving in any such capacity at the Company. ING Group shall reimburse the Company for the cost of that portion of the Securities Coverage
covering ING Group, its respective Subsidiaries and their respective Directors, officers and employees. 

  

	 	(e)	As used in this Section 6.8, the terms “D&O Coverage,” “Fiduciary Coverage, “Securities Coverage” and “Agreed Coverage”
shall mean the coverages in place as of the date of this Agreement as well as any renewal, amendment, endorsement or replacement (each, a “Coverage Change”) of such coverages. A change in premium for any such Agreed Coverage shall
not be considered a “Coverage Change.” 

  

	 	(f)	Promptly upon receipt of any written request from ING Group, the Company will supply ING Group with copies of any policies of insurance, binders, proposed terms or
wording and other relevant information or documents with respect to the Agreed Coverage or any actual or proposed Coverage Change regarding the Agreed Coverage or Coverage Change. 

 

	 	(g)	ING Group shall receive reasonable prior notice of any proposed Coverage Change and any proposed change in premiums on the Agreed Coverage. No Coverage Change shall
become effective that would have the effect of making the Agreed Coverage (i) less favorable to Group Individuals in comparison to Directors, officers or employees of the Company than is the Agreed Coverage prior to such Coverage Change, or
(ii) less favorable to ING Group and its Subsidiaries in comparison to the Company and its Subsidiaries than is the Agreed Coverage prior to such Coverage Change without the prior written consent of ING Group, which consent may be granted,
conditioned or withheld in the sole discretion of ING Group. If the proposed premium change for Securities Coverage would materially increase the cost of the Securities Coverage, ING Group shall have the right to participate with the Company in
negotiations with the insurance brokers and insurance companies with respect to such proposed increase. 

  

	 	(h)	If a Coverage Change to the Securities Coverage is required by the relevant insurers because certain terms and conditions are no longer available, and such Coverage
Change would have the effect of making the Securities Coverage (i) less favorable to Group Individuals in comparison to Directors, officers, employees or agents of the Company than the Securities Coverage prior to such Coverage Change, or
(ii) less favorable to ING Group and its Subsidiaries in comparison to the Company and its Subsidiaries than is the Securities Coverage prior to such Coverage Change, ING Group shall have the option of either (x) consenting to such
Coverage Changes, which consent may be granted, conditioned or withheld in the sole discretion of ING Group, or (y) requiring the Company to procure “run-off” or “tail” coverage on behalf of ING Group for Securities Coverage
for a period of time equal to the statute of limitations applicable to the last Offering covered by the Securities Coverage. Such “run-off” or “tail” coverage must remain part of the same policy otherwise kept in force by the
Company in order to ensure that there are not two separate policies covering a Group Individual with respect to claims made under the D&O Coverage, including the Securities Coverage. The cost of such “run-off” or “tail”
coverage will be borne by ING Group and the Company according to the same percentage of cost outlined in 6.8(d). 

  

	 	(i)	 ING Group may at any time request in writing a Coverage Change with respect to the Securities Coverage of Group Individuals or ING Group or any of its
Subsidiaries. The Company will use commercially reasonable efforts to effect such Coverage Change so long as such Coverage Change would not have the effect of making the Agreed Coverage (i) less favorable to the Company or any of its
Subsidiaries or any Director, officer or employee of the Company and its Subsidiaries than the Agreed Coverage prior to such Coverage Change, (ii) more favorable to Group Individuals in comparison to Directors, officers or employees of the
Company than is the Agreed Coverage prior to such Coverage Change, or (iii) more favorable to ING Group and its Subsidiaries in comparison to the Company 

  
 29 

	 	
and its Subsidiaries than is the Agreed Coverage prior to such Coverage Change. If such Coverage Change would increase the premium for such coverage above the premium that would prevail in the
absence of such Coverage Change, ING Group shall reimburse the Company for the total cost of such Coverage Change. ING Group may request, at any time, the termination of the Securities Coverage by advanced written notice to the Company in accordance
with Section 10.2. Upon receipt of such notice, the Company shall use commercially reasonable efforts to promptly terminate such coverage. 

  

	 	(j)	In the event that any insured makes a claim or delivers a notice of circumstances under any insurance policy providing the Agreed Coverage, then, provided that
attorney-client privilege and attorney-work product protection are protected and preserved with respect to such matters (including by entering into a Common Interest Agreement in the form attached to this Agreement), each of the Company (with
respect to claims or notices by the Company or any of its Subsidiaries or any Director, officer or employee of the Company) and ING Group (with respect to claims or notices by ING Group or any of its Subsidiaries or any Group Individual) shall
promptly provide written notice to the other of such claim or notice of circumstances and shall continue to keep the other informed of the status and progress of such claim or notice of circumstances, including providing copies of such relevant
documentation and correspondence with the insurers as the other may request. 

  

	 	(k)	In the event that multiple insureds make claims or deliver notices of circumstances with respect to the same underlying events or facts under any insurance policy
providing the Agreed Coverage, then, provided that attorney-client privilege and attorney-work product protection are protected and preserved with respect to such matters (including by entering into a Common Interest Agreement in the form attached
to this Agreement), each of the Company (with respect to claims or notices by the Company or any of its Subsidiaries or any Director, officer or employee of the Company) and ING Group (with respect to claims or notices by ING Group or any of its
Subsidiaries or any Group Individual) shall cooperate with the other in connection with (i) the defense of allegations from third parties with respect to the underlying events or facts, and (ii) dealing with the insurers providing the
Agreed Coverage with respect to asserting rights to coverage in respect of such third party claims and the underlying events or facts, in all cases with the intention of seeking to maximize the aggregate benefits to all insureds under the Agreed
Coverage in respect of such third party claims and the underlying events or facts. Any self-insured retention or deductible applicable to such common claim or notice of circumstances will be borne by ING Group and the Company in the same proportion
as the cost of the Securities Coverage paid by ING Group during the relevant policy period compared to the cost of the D&O Coverage paid by the Company during the relevant policy period. 

 

	 	(l)	In the event that any conflict of interest arises between insureds that make claims or deliver notices of circumstances under any insurance policy providing the Agreed
Coverage, then each of the Company (with respect to claims or notices by the Company or any of its Subsidiaries or any Director, officer or employee of the Company) and ING Group (with respect to claims or notices by ING Group or any of its
Subsidiaries or any Group Individual) shall use commercially reasonable efforts to resolve such conflict or to manage it in such a way as to maximize the aggregate benefits to all insureds under the Agreed Coverage. 

 

	 	(m)	 Upon Completion of the IPO, the Company shall cease to participate in the RMP with respect to any professional liability, fidelity/crime and employment
practices liability exposures of the Company arising from events occurring after Completion of the IPO. With respect to RMP Liabilities arising from events occurring prior to Completion of the IPO (“Pre-IPO RMP Liabilities”), such
liabilities shall continue to be covered under the RMP Local Policy and the RMP until such time as both (i) the RMP Treaty is commuted 

  
 30 

	 	
and (ii) AIG US (or such other third-party insurer acceptable to the Company) issues new standalone insurance policies to the Company covering the Pre-IPO RMP Liabilities, replacing coverage
provided under the RMP Local Policy. The Company shall cooperate with AIG US (and, if applicable, such third-party insurer) to coordinate the contemporaneous cancellation of the RMP Local Policy, AIG US’s (or, if applicable, such other
third-party insurer’s) issuance of the new standalone insurance policies and the commutation of the RMP Treaty. Until both conditions in (i) and (ii) of this Section 6.8(m) are satisfied, the Company’s coverage for
Pre-IPO RMP Liabilities shall continue in effect under the RMP Local Policy and the RMP, and ING Group shall refrain from taking any action to terminate the coverage provided under the RMP Local Policy and the RMP, and cause the Reinsurer to pay,
perform and discharge its obligations to AIG US in full under the RMP Treaty with respect to Pre-IPO RMP Liabilities. Upon the satisfaction of such conditions, henceforth, Pre-IPO RMP Liabilities no longer will be covered by the RMP Local Policy.

  

	 	(n)	As used in Section 6.8(m), the term “RMP” shall mean the self-insured risk management program of ING Group encompassing professional liability,
fidelity/crime and employment practices liability exposures. “Reinsurer” shall mean ING Re (Netherlands) N.V. “RMP Liabilities” shall mean the insured liabilities under the RMP Local Policy for open reported claims and
future claims arising out of acts that occurred during the coverage term of such policy. “RMP Local Policy” shall mean, collectively, those certain policies of insurance issued by National Union Fire Insurance Company of Pittsburgh,
Pa. (“AIG US”) to the Company, which provide coverage for professional liability, fidelity/crime, and employment practices liability risks. “RMP Treaty” means that certain reinsurance treaty between AIG US and the Reinsurer
pursuant to which RMP Liabilities are ceded to the Reinsurer. 

  

	 	(o)	For purposes of this Section 6.8, “Group Individual” shall mean (i) any director (including any member of the Supervisory Board or the
Executive Board), officer or employee of ING Group or any of its Subsidiaries, (ii) any person designated by ING Group as a Group Director and who serves in such capacity, (iii) not more than five (5) individuals (including any
personal management entity of such an individual being treated as the same individual), directly or indirectly engaged by ING Group or its Subsidiaries as its agent on a project basis with respect to an offering of securities of the Company during
the term of this Agreement and having a binding, written agreement with ING Group or any of its Subsidiaries that obligates ING Group or such Subsidiary to indemnify such individual to the same extent as ING Group or such Subsidiary indemnifies its
directors, officers or employees, or (iv) any person who, with his consent, is named in any Registration Statement of the Company under the Securities Act as about to become a Director of the Company. 

 

	6.9	Non-Solicitation 

  

	 	(a)	Until the earlier of (i) two years after the date of this Agreement and (ii) the Third Threshold Date, neither Party shall solicit any then-current employee
of the other Party with respect to employment by such Party. 

  
 31 

 ARTICLE VII 
 REQUIREMENTS WITH RESPECT 
 TO ING GROUP-GUARANTEED OBLIGATIONS

  

	7.1	Aetna Notes 

  

	 	(a)	The Company agrees that it shall reduce the outstanding principal amount of Aetna Notes to: 

 

	 	(i)	no more than $400.0 million as of December 31, 2015; 

  

	 	(ii)	no more than $300.0 million as of December 31, 2016; 

  

	 	(iii)	no more than $200.0 million as of December 31, 2017; 

  

	 	(iv)	no more than $100.0 million as of December 31, 2018; and 

  

	 	(v)	zero as of December 31, 2019. 

  

	 	(b)	In addition to any redemptions, repurchases or other means of reducing the outstanding principal amount of Aetna Notes, the outstanding principal amount of Aetna Notes
shall also be deemed to have been reduced to the extent set forth in Section 7.1(d) hereof if the Company shall have deposited with an Acceptable Collateral Agent, collateral (the “Collateral”), pledged to ING Group (or such of
its Subsidiaries as shall be designated by ING Group) pursuant to Appropriate Collateral Documentation, as security for the Company’s obligations under Section 7.2 hereof, consisting of: 

 

	 	(i)	U.S. dollar-denominated cash deposits with an Acceptable Bank; 

  

	 	(ii)	corporate or sovereign senior debt instruments that (1) are not issued by a company engaged in the business of issuing life insurance, (2) are not issued by
any affiliate of the Company, (3) are rated Investment Grade, and (4) would be accepted by the U.S. Federal Reserve System to secure discount window advances (“Third-Party Debt Collateral”), provided, however, that no such
instrument that would otherwise constitute Third-Party Debt Collateral shall be considered Third-Party Debt Collateral or Collateral for purposes of this Agreement until such time as the Parties shall each have consented to its being so considered,
such consent not to be unreasonably withheld; 

  

	 	(iii)	an irrevocable letter of credit (a “Letter of Credit”) issued by an Acceptable LOC Issuer naming ING Group (or its designated Subsidiary) as
beneficiary; or 

  

	 	(iv)	senior debt obligations of ING Group or its wholly-owned Subsidiary, including ING Bank (“ING Group Debt Obligations”). 

 

	 	(c)	The Appropriate Collateral Documentation shall provide that: 

  

	 	(i)	 Once deposited, Collateral may not be withdrawn by the Company without the consent of ING Group, except (1) to the extent that, as of the
immediately preceding fiscal quarter end of the Company (or, if any portion of the Aetna Notes shall have been redeemed, cancelled or paid at maturity since the immediately preceding fiscal quarter end of the Company, as of the day immediately
following such redemption, cancellation or repayment), the sum of the outstanding principal amount of Aetna Notes (including the effect of any deemed reduction in such amount pursuant to Section 7.1(b) hereof) plus any accrued and unpaid fees

  
 32 

	 	
assessed pursuant to Section 7.1(e) hereof, was less than the amounts prescribed in Section 7.1(a) hereof or (2) to the extent that such Collateral is replaced with alternative
Collateral meeting the requirements of Section 7.1(b) hereof; 

  

	 	(ii)	Any proceeds of Collateral, including as a result of any maturity, redemption or repurchase of Collateral, shall become part of the Collateral;

  

	 	(iii)	For Collateral that consists of a Letter of Credit, ING Group (or its designated Subsidiary) shall be entitled to draw such Letter of Credit if (1) such Letter of
Credit shall not have been replaced by other Collateral meeting the requirements of Section 7.1(b) on or before the date that is 30 days prior to the expiry of such Letter of Credit or (2) if the Company shall have failed to pay to ING
Group (or its applicable Subsidiary) any amounts owed under Section 7.2(a) hereof within five business days of such amounts having become payable; and 

 

	 	(iv)	For Collateral that consists of ING Group Debt Obligations, ING Group (or its Subsidiary that has issued such ING Group Debt Obligations) may offset any amounts payable
to the Company with respect to such ING Group Debt Obligations by any amounts which the Company shall have become obligated to reimburse ING Group or any of its Subsidiaries pursuant to Section 7.2(a) hereof. 

 

	 	(d)	The amount of any Collateral posted by the Company in accordance with Section 7.1(b) hereof shall be deemed to reduce the outstanding principal amount of Aetna
Notes dollar-for-dollar, except that Third-Party Debt Collateral shall be deemed to reduce the outstanding principal amount of Aetna Notes by an amount equal to the aggregate principal amount of the Third-Party Debt Collateral, discounted in each
case by the applicable collateral margin prescribed by the U.S. Federal Reserve System if such Collateral were to have been pledged as security for discount window advances as of the end of the immediately preceding fiscal quarter of the Company.

  

	 	(e)	The amount of Collateral (including the effect of any discount described in Section 7.1(d) hereof) shall be calculated on the first business day of each fiscal
quarter of the Company (the “Calculation Day”). If, upon such calculation, the outstanding principal amount of the Aetna Notes, as of the end of the immediately preceding fiscal quarter of the Company, exceeds the limits set forth
in Section 7.1(a) hereof (any such excess, the “Excess Amount”), ING US shall pay, within 30 days of each such Calculation Day, a fee to ING Group according to the following fee structure: 

 

	 	(i)	For an Excess Amount calculated on a Calculation Day in 2016, 0.5% of the Excess Amount; 

 

	 	(ii)	For an Excess Amount calculated on a Calculation Day in 2017, 0.75% of the Excess Amount; 

 

	 	(iii)	For an Excess Amount calculated on a Calculation Day in 2018, 1.0% of the Excess Amount; and 

 

	 	(iv)	For an Excess Amount calculated on a Calculation Day in 2019 or later, 1.25% of the Excess Amount. 

 

	 	(f)	The payment of the fee set forth in Section 7.1(e) hereof shall be the sole remedy of ING Group for any failure by the Company to comply with its obligations
pursuant to Section 7.1(a) hereof; provided, however, that this Section 7.1(f) shall have no effect on the right or ability of ING Group or its applicable Subsidiary to (i) enforce any security interest in the Collateral or draw upon
any Letter of Credit; (ii) offset any amounts payable on ING Group Debt Obligations; or (iii) seek and exercise any and all remedies available to it (at law or equity) with respect to any breach by the Company of Section 7.2(a) hereof
or any other provision of this Agreement other than Section 7.1(a) hereof. 

  
 33 

	7.2	Reimbursement Obligations with Respect to ING Group Guarantees 

  

	 	(a)	The Company agrees that, to the extent that ING Group or any Subsidiary shall at any time make any payments with respect to the obligations that are the subject of any
ING Group Guarantee, the Company shall, immediately and without any requirement for notice or demand, reimburse ING Group or such Subsidiary for the full amount of such payments and for all reasonable expenses incurred by ING Group or the Subsidiary
in connection with making such payments. 

  
 34 

 ARTICLE VIII 
 INDEMNIFICATION 
  

	8.1	General Cross Indemnification 

  

	 	(a)	ING Group shall indemnify and hold harmless the Company and each of its Subsidiaries against any and all costs and expenses arising out of third party claims
(including, without limitation, reasonable attorneys’ fees, interest, penalties and costs of investigation or preparation for defense), judgments, fines, losses, claims, damages, liabilities, demands, assessments and amounts paid in settlement
(collectively, “Losses”), in each case, based on, arising out of, resulting from or in connection with any claim, action, cause of action, suit, proceeding or investigation, whether civil, criminal, administrative, investigative or
other (collectively, “Actions”), based on, arising out of, pertaining to or in connection with any breach by ING Group or any of its Subsidiaries of this Agreement. 

 

	 	(b)	The Company shall indemnify and hold harmless ING Group and each of its Subsidiaries (other than the Company and its Subsidiaries) against any and all Losses, in each
case, based on, arising out of, resulting from or in connection with any Actions, based on, arising out of, pertaining to or in connection with any breach by the Company or any of its Subsidiaries of this Agreement. 

 

	8.2	Procedure 

  

	 	(a)	If any Action shall be brought against any person entitled to indemnification pursuant to this Article VIII (the “Indemnitees”) in respect of
which indemnity may be sought against the other Party (the “Indemnifying Party”), such Indemnitee shall promptly notify the Indemnifying Party, provided, however, that any delay of such notice shall not affect the liability of the
Indemnifying Party, except to the extent that the Indemnifying Party is actually prejudiced by such delay. 

  

	 	(b)	The Indemnitees shall be entitled to direct the defense of the Action and retain counsel of their choosing. Except where an Indemnitee shall have been advised by its
outside counsel that representation of such Indemnitee and any other Indemnitee by the same counsel would be prohibited under applicable standards of professional conduct (whether or not such representation by the same counsel has been proposed) due
to actual or potential differing interests between them, the Indemnifying Party shall, in connection with any one such Action or separate but substantially similar or related Actions in the same jurisdiction arising out of the same general
allegations or circumstances, be liable for the reasonable fees and expenses of only one outside counsel (in addition to any local outside counsel) at any time for all such Indemnitees not having actual or potential differing interests among
themselves. 

  

	 	(c)	The Indemnifying Party shall not be liable for any settlement of any Action effected without its written consent, unless such consent has been unreasonably withheld,
conditioned or delayed. 

  

	 	(d)	Notwithstanding the other provisions of this Article VIII, the Indemnifying Party shall not be liable for any Losses incurred subsequent to an Indemnitee’s refusal
to enter into a settlement of an Action that (i) has been proposed to Indemnitee in writing by the adverse party to the Action, (ii) includes an unconditional release (except for the payment of amounts for which the Indemnitee is entitled
to indemnification (or, except for Section 8.3(c) hereof, would be so entitled)) of such Indemnitee from all liability on claims that are the subject matter of such Action, and (iii) does not involve any admission of liability on the part
of the Indemnitees, except where (x) such written settlement proposal has been provided to the Indemnifying Party and (y) the Indemnifying Party has not consented to such settlement. 

  
 35 

	8.3	Other Matters 

  

	 	(a)	Any Losses for which an Indemnitee is entitled to indemnification or contribution under this Article VIII shall be paid by the Indemnifying Party to the Indemnitee
as such Losses are incurred. 

  

	 	(b)	The indemnity and contribution agreements contained in this Article VIII shall remain operative and in full force and effect, regardless of (i) any
investigation made by or on behalf of any Indemnitee, any Indemnifying Party, or any of their respective officers, directors, shareholders or employees, and (ii) any termination of this Agreement. 

 

	 	(c)	For the avoidance of doubt, indemnification amounts payable under this Article VIII shall be reduced by the amount of any insurance recovery obtained by an Indemnitee.

  
 36 

 ARTICLE IX 
 DISPUTE RESOLUTION 
  

	9.1	Mediation 

  

	 	(a)	The Parties shall act honestly and reasonably in interpreting this Agreement. In the event of a dispute or alleged breach of this Agreement, the Parties agree to work
together in good faith to resolve the matter between them. 

  

	 	(b)	Any disagreement that cannot be resolved between the senior officers of each Party having knowledge of the subject matter in dispute within thirty days of the dispute
arising shall be referred to the general counsel of, or such other person performing a similar function for, each Party for resolution. 

  

	 	(c)	Any disagreement that cannot be resolved between the general counsels (or person performing a similar function) of each Party within twenty days of the dispute being
referred pursuant to Section 9.1(b) hereof (or such later date as they shall mutually agree), shall be referred to the Board of Directors and the executive board of ING Group for resolution. 

 

	 	(d)	If the matter is not resolved within twenty days of the dispute being referred pursuant to Section 9.1(c) hereof (or such later date as the Parties shall mutually
agree), then the Parties may agree to appoint a mediator and to use a mutually agreed process of mediation. The Parties shall share the costs of such mediator and the process of mediation (provided that each Party shall be responsible for its own
costs of preparing for and appearing before the mediator). The decision of the mediator shall not be binding on the Parties, but the Parties agree that each shall act in good faith while the process of mediation is proceeding.

  

	9.2	Arbitration 

  

	 	(a)	In the event any dispute is not referred to mediation within five Business Days following the expiry of the twenty-day period provided in Section 9.1(d) or any
dispute referred to mediation remains unresolved for a period of fourteen days following its referral to mediation, then the dispute shall be submitted to arbitration and arbitrated and finally resolved according to the following rules of
arbitration: 

  

	 	(i)	The arbitration shall be administered by the American Arbitration Association (the “AAA”) under its Commercial Arbitration Rules then in effect (the
“Rules”) except as modified herein. The arbitration shall be held in New York, New York. 

  

	 	(ii)	There shall be three arbitrators of whom each Party shall select one within fifteen days of respondent’s receipt of claimant’s demand for arbitration. The two
Party-appointed arbitrators shall select a third arbitrator to serve as Chair of the tribunal within fifteen days of the selection of the second arbitrator. If any arbitrator has not been appointed within the time limits specified herein, such
appointment shall be made by the AAA in accordance with the Rules upon the written request of either Party within fifteen days of such request. The hearing shall be held no later than one-hundred-and-twenty days following the appointment of the
third arbitrator. 

  

	 	(iii)	The arbitral tribunal shall permit prehearing discovery that is relevant to the subject matter of the dispute taking into account the Parties’ desire that the
arbitration be conducted expeditiously and cost effectively. All discovery shall be completed within sixty days of the appointment of the third arbitrator. 

  
 37 

	 	(iv)	By agreeing to arbitration, the Parties do not intend to deprive a court of its jurisdiction to issue a pre-arbitral injunction, pre-arbitral attachment, or other order
in aid of arbitration proceedings and the enforcement of any award. Without prejudice to such provisional remedies as may be available under the jurisdiction of a court, the arbitral tribunal shall have full authority to grant provisional remedies,
to direct the Parties to request that any court modify or vacate any temporary or preliminary relief issued by such court, and to award damages for the failure of any Party to respect the arbitral tribunal’s orders to that effect. For the
purpose of any provisional relief contemplated hereunder, the Parties hereby submit to the exclusive jurisdiction of the New York Courts. Each Party unconditionally and irrevocably waives any objections which they may have now or in the future to
the jurisdiction of the New York Courts including objections by reason of lack of personal jurisdiction, improper venue, or inconvenient forum. 

  

	 	(v)	The award shall be in writing, shall state the findings of fact and conclusions of law on which it is based, shall be final and binding and shall be the sole and
exclusive remedy between the Parties regarding any claims, counterclaims, issues, or accounting presented to the arbitral tribunal. The arbitration shall be governed by the United States Arbitration Act, 9 U.S.C. § 1 et seq., and judgment upon
any award may be entered in any court having jurisdiction. 

  

	 	(vi)	The Parties will bear equally all fees, costs, disbursements and other expenses of the arbitration, and each Party shall be solely responsible for all fees, costs,
disbursements and other expenses incurred in the preparation and prosecution of their own case; provided that in the event that a Party fails to comply with the orders or decision of the arbitral tribunal, then such noncomplying Party shall be
liable for all costs and expenses (including attorney fees) incurred by the other Party in its effort to obtain either an order to compel, or an enforcement of an award, from a court of competent jurisdiction. 

 

	 	(vii)	The arbitral tribunal shall have the authority, for good cause shown, to extend any of the time periods in this arbitration provision either on its own authority or
upon the request of any of the Parties. The arbitral tribunal shall be authorized in its discretion to grant pre-award and post-award interest at commercial rates. The arbitral tribunal shall have no authority to award punitive, exemplary or
multiple damages or any other damages not measured by the prevailing Parties’ actual damages. The arbitral tribunal shall have the authority to order specific performance or to issue any other type of temporary or permanent injunction.

  

	 	(viii)	All notices by one Party to the other in connection with the arbitration shall be in accordance with the provisions of Section 10.2 hereof, except that all notices
for a demand for arbitration made pursuant to this Article IX must be made by personal delivery or receipted overnight courier. This agreement to arbitrate shall be binding upon the successors and permitted assigns of each Party. This Agreement and
the rights and obligations of the Parties shall remain in full force and effect pending the award in any arbitration proceeding hereunder. 

  

	9.3	Confidentiality. 

  

	 	(a)	 Except to the extent necessary to compel arbitration or in connection with arbitration of any dispute under this Agreement, or for enforcement of an
arbitral award, information concerning (i) the existence of an arbitration pursuant to this Article IX, (ii) any documentary or other evidence given by a Party or a witness in the arbitration or (iii) the arbitration award may not be
disclosed by the tribunal administrator, the arbitrators, any Party or its counsel to any person or entity not connected with the proceeding unless 

  
 38 

	 	
required by law or by a court or competent regulatory body, and then only to the extent of disclosing what is legally required. A Party filing any document arising out of or relating to any
arbitration in court shall seek from the court confidential treatment for such document and provide notice thereof to the non-disclosing Party. 

  
 39 

 ARTICLE X 
 GENERAL PROVISIONS 
  

	10.1	Obligations Subject to Applicable Law 

  

	 	(a)	The obligations of each Party under this Agreement shall be subject to Applicable Law, and, to the extent inconsistent therewith, the Parties shall adopt such modified
arrangements as are as close as possible to the requirements of this Agreement while remaining compliant with Applicable Law, provided, however, that the Company shall fully avail itself of all exemptions, phase-in provisions and other
relief available under Applicable Law before any modified arrangements shall be adopted. 

  

	10.2	Notices 

  

	 	(a)	Unless otherwise provided in this Agreement, all notices and other communications provided for hereunder shall be dated and in writing and shall be deemed to have been
given (a) when delivered, if delivered personally, sent by confirmed telecopy or sent by registered or certified mail, return receipt requested, postage prepaid, provided that such delivery is completed during normal business hours of the
recipient, failing which such notice shall be deemed to have been given on the next Business Day, (b) on the next Business Day if sent by overnight courier and delivered on such Business Day within ordinary business hours and, if not, the next
Business Day following delivery; and (c) when received, if received during normal business hours and, if not, the next Business Day after receipt, if delivered by means other than those specified above. Such notices shall be delivered to the
address set forth below, or to such other address as a Party shall have furnished to the other Party in accordance with this Section. 

 If to ING Group, to: 
 ING Groep N.V. 

Bijlmerplein 888 
 1102 MG Amsterdam Zuidoost 
 The Netherlands 

Attention: General Counsel 
 Fax: +31 (0) 20 576 0950 
 with a copy to: 

Sullivan & Cromwell LLP 
 125 Broad Street 
 New York, New York 10004 

Attention: Robert G. DeLaMater 
 E-mail: delamaterr@sullcrom.com 
 Fax: 212 291 9037 

If to the Company: 
 ING U.S., Inc. 
 230 Park Avenue 

New York NY 10169 
 Attention: Executive Vice President and Chief Legal Officer 
 e-mail:
bridget.healy@us.ing.com 
 Fax: 212 309 6581 

  
 40 

	10.3	Binding Nature of Agreement 

  

	 	(a)	This Agreement shall be binding upon and inure to the benefit of and be enforceable by the Parties hereto or their successors in interest. 

 

	10.4	Remedies 

  

	 	(a)	The Parties hereby expressly recognize and acknowledge that immediate, extensive and irreparable damage would result, no adequate remedy at law would exist and damages
would be difficult to determine in the event that any provision of this Agreement is not performed in accordance with its specific terms or otherwise breached. Therefore, in addition to, and not in limitation of, any other remedy available to any
Party, except as otherwise expressly provided herein, an aggrieved Party under this Agreement would be entitled to specific performance of the terms hereof and immediate injunctive relief, without the necessity of proving the inadequacy of money
damages as a remedy. Neither Party shall be required to obtain or furnish any bond or similar instrument in connection with or as a condition to obtaining or seeking any such remedy. For the avoidance of doubt, nothing in this Agreement shall
diminish the availability of specific performance of the obligations under this Agreement or any other injunctive relief. 

  

	 	(b)	Such remedies, and any and all other remedies provided for in this Agreement, shall be cumulative in nature and not exclusive and shall be in addition to any other
remedies whatsoever which any Party may otherwise have. Each of the Parties hereby acknowledges and agrees that it may be difficult to prove damages with reasonable certainty, that it may be difficult to procure suitable substitute performance, and
that injunctive relief and/or specific performance will not cause an undue hardship to the Parties. Each Party hereby further agrees that in the event of any action by the other Party for specific performance or injunctive relief, it will not assert
that a remedy at law or other remedy would be adequate or that specific performance or injunctive relief in respect of such breach or violation should not be available on the grounds that money damages are adequate or any other grounds

  

	10.5	Governing Law 

  

	 	(a)	This Agreement shall be construed and enforced in accordance with, and the rights and duties of the Parties shall be governed by, the law of the State of New York,
without regard to principles of conflicts of laws. 

  

	10.6	Counterparts 

  

	 	(a)	This Agreement may be executed in one or more counterparts, each of which shall be deemed an original, but both of which together shall constitute one and the same
instrument. 

  

	10.7	Severability 

  

	 	(a)	In the event that any one or more of the provisions contained herein, or the application thereof in any circumstances, is held invalid, illegal or unenforceable in any
respect for any reason, the validity, legality and enforceability of any such provision in every other respect and of the remaining provisions contained herein shall not be in any way impaired thereby, it being intended that all of the rights and
privileges of the Parties shall be enforceable to the fullest extent permitted by law. To the extent that any such provision is so held to be invalid, illegal or unenforceable, the Parties shall in good faith use commercially reasonable efforts to
find and effect an alternative means to achieve the same or substantially the same result as that contemplated by such provision. 

  
 41 

	10.8	Confidential Information 

  

	 	(a)	All information provided by either Party shall, except if the purpose for which such information is furnished pursuant to this Agreement contemplates such disclosure or
is for disclosure in public documents of the Company or any of its Subsidiaries or ING Group or any of its Subsidiaries and, except for disclosure to other Subsidiaries of ING Group or the Company, as the case may be, be kept strictly confidential
and, unless otherwise required by Applicable Law or as agreed by the Parties, neither Party shall disclose, and each shall take all necessary steps to ensure that none of their respective directors, officers, employers, agents and representatives
disclose, or make use of, except in accordance with Applicable Law, such information in any manner whatsoever until such information otherwise becomes generally available to the public; provided, however, this Section 10.8 shall not apply to
information relating to or disclosed in the IPO Registration Statement or in connection with any registration statement filed in accordance with the terms of the Registration Rights Agreement. In no event shall either Party or any of its
Subsidiaries or any of their respective directors, officers, employees, agents or representatives use material non-public information of the other to acquire or dispose of securities of the other or transact in any way in such securities. Each Party
shall be liable for any breach of this Section 10.8 by it or any of its Subsidiaries or any of their respective directors, officers, employees, agents and representatives. 

 

	10.9	Amendment, Modification and Waiver 

  

	 	(a)	This Agreement may be amended, modified or supplemented only by written agreement executed by the Parties. Any failure of a Party to comply with any obligation,
covenant or agreement contained in this Agreement may be waived by the Party entitled to the benefits thereof only by a written instrument duly executed and delivered by the Party granting such waiver, but such waiver or failure to insist upon
strict compliance with such obligation, covenant or agreement shall not operate as a waiver of, or estoppel with respect to, any subsequent or other failure of compliance. 

 

	10.10	No Assignment 

  

	 	(a)	Except as otherwise provided for in this Agreement, neither this Agreement nor any of the rights, interests or obligations of any Party hereto may be assigned by such
Party without the prior written consent of the other Party. 

  

	10.11	Further Actions 

  

	 	(a)	Each Party hereto shall, on notice of request from any other Party hereto, take such further action not specifically required hereby at the expense of the requesting
Party, as the requesting Party may reasonably request for the implementation of the transactions contemplated hereby. 

  

	10.12	No Third Party Beneficiaries 

  

	 	(a)	Nothing in this Agreement shall convey any rights upon any person or entity which is not a Party or a successor or permitted assignee of a Party to this Agreement;
provided that the provisions of Article VIII shall inure to the benefit of each of the Indemnitees. 

  

	10.13	Discretion of Parties 

  

	 	(a)	Where this Agreement requires or permits any Party to make or take any decision, determination or action with respect to matters governed by this Agreement, unless
expressly provided otherwise, such decision, determination or action may be made or taken by such Party in its sole and absolute discretion. 

  
 42 

	10.14	Entire Agreement 

  

	 	(a)	This Agreement and the Other Agreements, including any schedules or exhibits hereto or thereto, embody the entire agreement and understanding of the parties hereto in
respect of the subject matter covered by this Agreement and the Other Agreements. There are no restrictions, promises, representations, warranties, covenants or undertakings, other than those expressly set forth or referred to herein or therein.
This Agreement and the Other Agreements supersede all prior agreements and understandings between the parties with respect to such subject matter. 

  

	10.15	Term 

  

	 	(a)	Except to the extent set forth in the following sentence, this Agreement shall terminate and be of no further force or effect as of the date on which ING Group first
ceases to beneficially own at least 7.5% of the outstanding Common Stock. Notwithstanding the foregoing sentence, the provisions of Article I, Article VII, Article VIII, Article IX, Article X and Sections 6.7 and 6.8 hereof shall survive
termination of this Agreement. 

  
 43 

 IN WITNESS WHEREOF, the Parties have caused this Shareholder Agreement to be executed and
delivered as of the date first above written. 
  

					
	ING GROEP N.V.
		
	By:	 	 /s/ Jan H.M. Hommen

		 	Name:	 	Jan H.M. Hommen
		 	Title:	 	Managing Director
		
	By:	 	 /s/ Willem F. Nagel

		 	Name:	 	Willem F. Nagel
		 	Title:	 	Managing Director
	
	ING U.S., INC.
		
	By:	 	 /s/ Alain M. Karaoglan

		 	Name:	 	Alain M. Karaoglan
		 	Title:	 	Executive Vice President and
		 		 	Chief Operating Officer
		
	By:	 	 /s/ Ewout L. Steenbergen

		 	Name:	 	Ewout L. Steenbergen
		 	Title:	 	Executive Vice President and
		 		 	Chief Financial Officer

  
 44 

 Schedule 1.1(xx) – ING Group Guarantees 

 

	1.	Guarantees by ING Group of the Aetna Notes 

  

	2.	Guarantees by ING Verzekeringen N.V. of the commercial paper program of the Company 

 

	3.	Guarantees by ING Verzekeringen N.V. of letters of credit outstanding under a credit facility between the Company and ING Bank 

 

	4.	Guarantees by ING Verzekeringen N.V. of the obligations of Lion Custom Investments LLC under its ISDA master agreements 

 

	5.	Guarantees by ING Verzekeringen N.V. of the obligations of ING Financial Products Company, Inc. under credit derivative transactions 

  
 S-1

 Schedule 1.1(kkk) - Other Agreements 

Equity Administration Agreement 
 Registration
Rights Agreement 
 Transitional Intellectual Property License Agreement 

  
 S-2

 Schedule 2.2(f) – Lead Director Responsibilities 

In circumstances in which the non-management Directors meet without any management present, the Lead Director shall preside over such meetings. When the
Chairman is absent, the Lead Director shall preside over meetings of the Board of Directors. The Lead Director shall also have the authority: 
  

	 	•	 	 To call meetings of the Independent Directors; 

  

	 	•	 	 To consult on and approve Board of Directors meeting agendas; 

 

	 	•	 	 To consult and approve Board of Directors meeting schedules to ensure there is sufficient time for discussion of all agenda items;

  

	 	•	 	 Together with the chair of the compensation and benefits committee, to coordinate the evaluation of the performance of the CEO by the non-management
directors; 

  

	 	•	 	 To serve as liaison between the non-management members of the Board of Directors and the chairman, and as a contact person to facilitate communications
by the Company’s employees, shareholders and others with the non-management members of the Board of Directors; and 

  

	 	•	 	 To review the quality, quantity, appropriateness and timeliness of information provided to the Board. 

  
 S-3

 Schedule 4.6(b) 

Public Reporting Protocol Prior to Majority Holder Date 

 

					
	 Item / Principle
	  	 Principal Contact/addressee
	  	 Lead time

			
	The Board of Directors has oversight and sign-off on communications strategy, timing and content, any changes to which will be reported to ING Group	  	The Heads of Corporate Communications, Investor Relations and other functions of the Company to contact Head of ING Group CC&A or other relevant ING Group personnel	  	As needed
			
	Inform Group timely and adequately of any development/ information that may be considered (i) price sensitive for Group or (ii) may otherwise have a significant adverse
effect on Group, its financial condition or reputation so that ING Group can, should it consider that necessary, issue a press release.	  	The Head of Corporate Communications of the Company to contact Head of ING Group CC&A	  	At least one week in advance to the extent practicable and reasonable
			
	Inform Group timely and adequately of considerations, strategy, content and timing of ING U.S. press releases	  	The Head of Corporate Communications of the Company to contact the Head of ING Group Media Relations	  	At least one week in advance to the extent practicable and reasonable
			
	Any internal communications that could be reasonably be considered material to Group	  	The Head of Corporate Communications of the Company to contact the Head of ING Group Internal Communications	  	At least one week in advance to the extent practicable and reasonable

  
 S-4

 ANNEX A 
 Form of Registration Rights Agreement 
 [see Exhibit 10.4]

  
 A-1

 ANNEX B 
 Form of Amended and Restated Certificate of Incorporation 
 AMENDED AND
RESTATED 
 CERTIFICATE OF INCORPORATION 
 OF 
 ING U.S., INC. 

Pursuant to Section 103 of the General Corporation Law of the State of Delaware, as amended (the “DGCL”), the undersigned,
Bridget M. Healy, Executive Vice President and Chief Legal Officer of ING U.S., Inc., a Delaware corporation (the “Corporation”), hereby certifies as follows: 
 1. The name of the Corporation is ING U.S., Inc. and the date of filing of its original Certificate of Incorporation with the Secretary of State of the State of Delaware was April 7, 1999.

 2. This Amended and Restated Certificate of Incorporation hereby restates, integrates and further amends the
Corporation’s Certificate of Incorporation, as heretofore amended, to read in its entirety as follows: 
 FIRST. The
name of the Corporation is ING U.S., Inc. 
 SECOND. The address of the Corporation’s registered office in the State
of Delaware is Corporation Trust Center, 1209 Orange Street in the City of Wilmington, County of New Castle. The name of its registered agent at such address is The Corporation Trust Company. 

THIRD. The purpose of the Corporation is to engage in any lawful act or activity for which corporations may be organized under the
DGCL. 
 FOURTH. The total number of shares of all classes of stock which the Corporation shall have authority to issue is
1,000,000,000, of which 900,000,000 shares, par value $0.01 per share, shall be designated as Common Stock and 100,000,000 shares, par value $0.01 per share, shall be designated as Preferred Stock. 

When the filing of this Amended and Restated Certificate of Incorporation with the Secretary of State of the State of Delaware becomes
effective in accordance with the DGCL (the “Effective Time”), each share of common stock, par value, $0.01 per share, of the Corporation (“Old Common Stock”), outstanding immediately prior to the Effective Time shall
automatically be converted into 2295.248835 shares of Common Stock (with the aggregate number of shares of Common Stock into which the shares of Old Common Stock are converted rounded to the nearest whole number). From and after the Effective Time,
certificates that previously represented shares of Old Common Stock shall, until the same are presented for exchange, represent the number of shares of Common Stock into which such shares of Old Common Stock were converted pursuant hereto.

  
 B-1

 Shares of Preferred Stock may be issued in one or more series from time to time by the board
of directors of the Corporation (the “Board of Directors”), and the Board of Directors is expressly authorized to fix by resolution or resolutions the designations and the powers, preferences and rights, and the qualifications, limitations
and restrictions thereof, of the shares of each series of Preferred Stock, including without limitation the following: 
 (a) the distinctive serial designation of such series which shall distinguish it from other series; 
 (b) the number of shares included in such series; 
 (c) the
dividend rate, if any, (or method of determining such rate) payable to the holders of the shares of such series, any conditions upon which such dividends shall be paid and the date or dates upon which such dividends shall be payable; 

(d) whether dividends, if any, on the shares of such series shall be cumulative and, in the case of shares of any series
having cumulative dividend rights, the date or dates or method of determining the date or dates from which dividends on the shares of such series shall be cumulative; 

(e) whether dividends, if any, shall be paid in cash, in kind or otherwise; 

(f) the amount or amounts which shall be payable out of the assets of the Corporation to the holders of the shares of such
series upon voluntary or involuntary liquidation, dissolution or winding up the Corporation, and the relative rights of priority, if any, of payment of the shares of such series; 

(g) the price or prices at which, the period or periods within which and the terms and conditions upon which the shares of
such series may be redeemed, in whole or in part, at the option of the Corporation or at the option of the holder or holders thereof or upon the happening of a specified event or events; 

(h) the obligation, if any, of the Corporation to purchase or redeem shares of such series pursuant to a sinking fund or
otherwise and the price or prices at which, the period or periods within which and the terms and conditions upon which the shares of such series shall be redeemed or purchased, in whole or in part, pursuant to such obligation; 

(i) whether or not the shares of such series shall be convertible or exchangeable, at any time or times at the option of
the holder or holders thereof or at the option of the Corporation or upon the happening of a specified event or events, into shares of any other class or classes or any other series of the same or any other class or classes of stock or other
securities of the Corporation, and the price or prices or rate or rates of exchange or conversion and any adjustments applicable thereto; 

  
 B-2

 (j) whether or not the holders of the shares of such series shall have
voting rights, in addition to the voting rights provided by law, and if so the terms of such voting rights; and 

(k) any other powers, preferences and rights and qualifications, limitations and restrictions not inconsistent with the
DGCL. 
 Unless otherwise provided in the resolution or resolutions of the Board of Directors or a duly authorized committee
thereof establishing the terms of a series of Preferred Stock, no holder of any share of Preferred Stock shall be entitled as of right to vote on any amendment or alteration of the Amended and Restated Certificate of Incorporation to authorize or
create, or increase the authorized amount of, any other class or series of Preferred Stock or any alteration, amendment or repeal of any provision of any other series of Preferred Stock that does not adversely affect in any material respect the
rights of the series of Preferred Stock held by such holder. 
 Except as otherwise required by the DGCL or provided in the
resolution or resolutions of the Board of Directors or a duly authorized committee thereof establishing the terms of a series of Preferred Stock, no holder of Common Stock, as such, shall be entitled to vote on any amendment or alteration of the
Amended and Restated Certificate of Incorporation that alters, amends or changes the powers, preferences, rights or other terms of one or more outstanding series of Preferred Stock if the holders of such affected series are entitled, either
separately or together with the holders of one or more other series of Preferred Stock, to vote thereon pursuant to the Amended and Restated Certificate of Incorporation or pursuant to the DGCL. 

Subject to the rights of the holders of any series of Preferred Stock, the number of authorized shares of any class or series of
Preferred Stock may be increased or decreased (but not below the number of shares thereof then outstanding) by the affirmative vote of the holders of a majority of the outstanding shares of such class or series, voting together as a single class,
irrespective of the provisions of Section 242(b)(2) of DGCL or any corresponding provision hereafter enacted. 
 Unless
otherwise provided in the resolution or resolutions of the Board of Directors or a duly authorized committee thereof establishing the terms of a series of Preferred Stock, no holder of any share of Preferred Stock shall, in such capacity, be
entitled to bring a derivative action, suit or proceeding on behalf of the Corporation. 
 FIFTH. Special meetings of
stockholders of the Corporation may be called at any time by, but only by, the Board of Directors or, if and to the extent set forth in the by-laws of the Corporation, by one or more directors of the Corporation. Each special meeting shall be held
at such date, time and place either within or without the State of Delaware as may be stated in the notice of the meeting. 

SIXTH. The Board of Directors of the Corporation is authorized to adopt, amend or repeal the by-laws of the Corporation. No
adoption, amendment or repeal of a by-law by action of stockholders shall be effective unless approved by the affirmative vote of not less than two thirds of the outstanding shares entitled to vote on such matter, with all

  
 B-3

 
shares of Common Stock of the Corporation and other stock of the Corporation entitled to vote on such matter considered for this purpose as a single class. Any vote of stockholders required by
this Article SIXTH shall be in addition to any other vote of stockholders that may be required by law, the by-laws of the Corporation, any agreement with a national securities exchange or otherwise. 

SEVENTH. Elections of directors need not be by written ballot except and to the extent provided in the by-laws of the Corporation.

 EIGHTH. The number of directors of the Corporation shall be fixed from time to time pursuant to the by-laws of the
Corporation, provided that, until such time as ING Group first ceases to beneficially own at least twenty percent of the outstanding shares of Common Stock of the Corporation, the number of directors shall not be fewer than seven or greater than
nine. 
 For purposes of this Article EIGHTH: 
 “ING Group” shall mean ING Groep N.V., a Netherlands public limited liability company, together with all corporations, partnerships, joint ventures, limited liability companies, associations and
other entities of which ING Groep N.V. has the ownership, directly or indirectly, of more than fifty percent of the voting securities or similar ownership interests, including any securities or similar ownership interests which are voting only upon
the occurrence of a contingency where such contingency has occurred and is continuing, but shall not include the Corporation or any Corporation Subsidiaries; and 
 “Corporation Subsidiaries” shall mean all corporations, partnerships, joint ventures, limited liability companies, associations and other entities of which the Corporation has the ownership,
directly or indirectly, of more than fifty percent of the voting securities or similar ownership interests, including any securities or similar ownership interests which are voting only upon the occurrence of a contingency where such contingency has
occurred and is continuing. 
 NINTH. Vacancies and newly created directorships resulting from any increase in the
authorized number of directors or from any other cause shall be filled by, and only by, a majority of the directors then in office, although less than a quorum, or by the sole remaining director. Any director appointed to fill a vacancy or a newly
created directorship shall hold office until the next annual meeting of stockholders, and until his or her successor is elected and qualified or until his or her earlier resignation or removal. 

TENTH. Any action required or permitted to be taken by the holders of any class or series of stock of the Corporation may be taken
only upon the vote of stockholders at annual or special meeting duly called and may not be taken by written consent of the stockholders, provided, however that this Article TENTH shall not become effective until the first such time that ING Group
ceases to beneficially own at least fifty percent of the outstanding shares of Common Stock of the Corporation. 
 For purposes
of this Article TENTH: 
 “ING Group” shall have the meaning set forth in Article EIGHTH. 

  
 B-4

 ELEVENTH. The Corporation shall, to the fullest extent permitted by Section 145 of
the DGCL, as the same may hereafter be amended and supplemented, or by any successor thereto, indemnify any and all persons whom it shall have power to indemnify under said section from and against any and all of the expenses, liabilities or other
matters referred to in or covered by said section. Such right to indemnification shall continue as to a person who has ceased to be a director, officer, employee or agent and shall inure to the benefit of the heirs, executors and administrators of
such a person. The indemnification provided for herein shall not be deemed exclusive of any other rights to which those seeking indemnification may be entitled under any by-law, agreement, vote of stockholders or disinterested directors or
otherwise. 
 TWELFTH. No director of the Corporation shall be personally liable to the Corporation or its stockholders for
monetary damages for breach of fiduciary duty as a director, except to the extent that such exemption from liability or limitation thereof is not permitted under the DGCL as currently in effect or as the same may hereafter be amended. No amendment,
modification or repeal of this Article TWELFTH shall adversely affect any right or protection of a director that exists at the time of such amendment, modification or repeal. 
 THIRTEENTH. It is recognized that (a) certain directors of the Corporation (the “Group Directors”) have served and may serve as directors, officers, employees and agents of ING Group,
(b) the Corporation and its subsidiaries, directly or indirectly, may engage in the same, similar or related lines of business as those engaged in by ING Group and other business activities that overlap with or compete with those in which ING
Group may engage, (c) the Corporation may have an interest in the same areas of business opportunity as ING Group, (d) the Corporation will derive substantial benefits from the service as directors of the Corporation of Group Directors,
and (e) it is in the best interests of the Corporation that the rights of the Corporation, and the duties of any Group Directors, be determined and delineated as provided in this Article THIRTEENTH in respect of any Potential Business
Opportunities (as defined below) and in respect of the agreements and transactions referred to herein. The provisions of this Article THIRTEENTH will, to the fullest extent permitted by law, regulate and define the conduct of the business and
affairs of the Corporation and its directors who are Group Directors in connection with any Potential Business Opportunities and in connection with any agreements and transactions referred to herein. Any person purchasing or otherwise acquiring any
shares of Common Stock or Preferred Stock, or any interest therein, will be deemed to have notice of and to have consented to the provisions of this Article THIRTEENTH. References in this Article THIRTEENTH to “directors,”
“officers,” “employees” and “agents” of any person will be deemed to include those persons who hold similar positions or exercise similar powers and authority with respect to any other entity that is a limited liability
company, partnership, joint venture or other non-corporate entity. 
 If a director of the Corporation who is a Group Director
is presented or offered, or otherwise acquires knowledge of, a potential transaction or matter that may constitute or present a business opportunity for the Corporation, in which the Corporation could, but for the provisions of this Article
THIRTEENTH, have an interest or expectancy (any such transaction or matter, and any such actual or potential business opportunity, a “Potential Business Opportunity”): (i) such Group Director will, to the fullest extent

  
 B-5

 
permitted by law, have no duty or obligation to refrain from referring such Potential Business Opportunity to ING Group and, if such Group Director refers such Potential Business Opportunity to
ING Group, such Group Director shall have no duty or obligation to refer such Potential Business Opportunity to the Corporation or to give any notice to the Corporation regarding such Potential Business Opportunity (or any matter related thereto);
(ii) if such Group Director refers a Potential Business Opportunity to ING Group, such Group Director, to the fullest extent permitted by law, will not be liable to the Corporation as a director, stockholder or otherwise, for any failure to
refer such Potential Business Opportunity to the Corporation, or for referring such Potential Business Opportunity to ING Group, or for any failure to give any notice to the Corporation regarding such Potential Business Opportunity or any matter
relating thereto; (iii) ING Group may participate, engage or invest in any such Potential Business Opportunity notwithstanding that such Potential Business Opportunity may have been referred to ING Group by a Group Director; and (iv) if a
director who is a Group Director refers a Potential Business Opportunity to ING Group, then, as between the Corporation, on the one hand, and ING Group, on the other hand, the Corporation shall be deemed to have renounced any interest, expectancy or
right in or to such Potential Business Opportunity or to receive any income or proceeds derived therefrom solely as a result of such Group Director having been presented or offered, or otherwise acquiring knowledge of, such Potential Business
Opportunity, unless in each case referred to in clause (i), (ii), (iii) or (iv), such Potential Business Opportunity satisfies all of the following conditions (any Potential Business Opportunity that satisfies all of such conditions, a
“Restricted Potential Business Opportunity”): 
 (a) such Potential Business Opportunity was expressly
presented or offered in writing to the Group Director solely in his or her capacity as a director of the Corporation and for the benefit of the Corporation; 
 (b) the Group Director believed that the Corporation possessed, or would reasonably be expected to be able to possess, the resources necessary to exploit such Potential Business Opportunity; and

 (c) substantially all of such opportunity, at the time it is presented to the Group Director, is, and is
expected to remain, an “ING U.S. Opportunity” provided, that the Corporation is directly engaged in that business at the time the Potential Business Opportunity is presented or offered to the Group Director. 

For purposes hereof, an “ING U.S. Opportunity” shall mean an opportunity relating to the retirement solutions, investment
management and insurance solutions businesses actively engaged in by the Corporation in the United States as of April 30, 2013. The Corporation hereby renounces, on behalf of itself and its subsidiaries, to the fullest extent permitted by law,
any interest or expectancy in any Potential Business Opportunity that is not a Restricted Potential Business Opportunity. In the event the Corporation’s Board of Directors declines to pursue a Restricted Potential Business Opportunity, Group
Directors shall be free to refer such Restricted Potential Business Opportunity to ING Group. 
 No contract, agreement,
arrangement or transaction (or any amendment, modification or termination thereof) entered into between the Corporation, on the one hand, and ING Group, on the other hand, before the Corporation ceased to be an indirect, wholly

  
 B-6

 
owned subsidiary of ING Group shall be void or voidable or be considered unfair to the Corporation or any of its subsidiaries solely because ING Group is a party thereto, or because any
directors, officers or employees of ING Group were present at or participated in any meeting of the Board of Directors, or a committee thereof that authorized the contract, agreement, arrangement or transaction (or any amendment, modification or
termination thereof), or because his, her or their votes were counted for such purpose. The Corporation may from time to time enter into and perform one or more contracts, agreements, arrangements or transactions (or amendments, modifications or
supplements thereto) with ING Group. To the fullest extent permitted by law, no such contract, agreement, arrangement or transaction (nor any such amendments, modifications or supplements), nor the performance thereof by the Corporation, or by ING
Group, shall be considered contrary to any fiduciary duty owed to the Corporation (or to any stockholder of the Corporation) by any director of the Corporation who is a Group Director. To the fullest extent permitted by law, no director of the
Corporation who is a Group Director thereof shall have or be under any fiduciary duty to the Corporation (or to any stockholder of the Corporation) to refrain from acting on behalf of the Corporation or ING Group in respect of any such contract,
agreement, arrangement or transaction or performing any such contract, agreement, arrangement or transaction in accordance with its terms and each such director of the Corporation who is a Group Director shall be deemed to have acted in good faith
and in a manner such person reasonably believed to be in or not opposed to the best interests of the Corporation, and shall be deemed not to have breached his or her duties of loyalty to the Corporation or any of its stockholders, and not to have
derived an improper personal benefit therefrom. 
 No alteration, amendment or repeal of, or adoption of any provision
inconsistent with, any provision of this Article THIRTEENTH will have any effect upon (a) any agreement between the Corporation and ING Group, that was entered into before the time of such alteration, amendment or repeal or adoption of any such
inconsistent provision (the “Amendment Time”), or any transaction entered into in connection with the performance of any such agreement, whether such transaction is entered into before or after the Amendment Time, (b) any transaction
entered into between the Corporation and ING Group, before the Amendment Time, (c) the allocation of any business opportunity between the Corporation and ING Group before the Amendment Time, or (d) any duty or obligation owed by any
director of the Corporation (or the absence of any such duty or obligation) with respect to any Potential Business Opportunity which such director was offered, or of which such director otherwise became aware, before the Amendment Time (regardless
of whether any proceeding relating to any of the above is commenced before or after the Amendment Time). 
 For purposes of this
Article THIRTEENTH: 
 “Corporation” shall mean the Corporation and all Corporation Subsidiaries; 

“Corporation Subsidiaries” shall have the meaning set forth in Article EIGHTH; and 

“ING Group” shall have the meaning set forth in Article EIGHTH. 

  
 B-7

 FOURTEENTH. No contract or transaction between the Corporation and ING Group shall be
void or voidable solely for this reason, or solely because a director or officer of ING Group is present at or participates in the meeting of the Board of Directors or committee thereof which authorizes the contract or transaction, or solely because
his, her or their votes are counted for such purpose, if: 
 (a) The material facts as to the contract or
transaction are disclosed or are known to the Board of Directors or the committee, and the Board of Directors or committee in good faith authorizes the contract or transaction by the affirmative votes of a majority of the disinterested directors,
even though the disinterested directors be less than a quorum; or 
 (b) The material facts as to the contract or
transaction are disclosed or are known to the stockholders entitled to vote thereon, and the contract or transaction is specifically approved in good faith by vote of the stockholders; or 

(c) The contract or transaction is fair as to the Corporation as of the time it is authorized, approved or ratified by the
Board of Directors, a committee thereof, or the stockholders. 
 Directors of the Corporation who are also directors or officers
of ING Group may be counted in the presence of a quorum at a meeting of the Board of Directors or of a committee which authorizes the contract or transaction. Shares of Common Stock owned by ING Group may be counted in determining the presence of a
quorum at a meeting of stockholders called to authorize such contract or transaction. 
 For purposes of this Article
FOURTEENTH: 
 “Corporation” shall mean the Corporation and all Corporation Subsidiaries; 

“Corporation Subsidiaries” shall have the meaning set forth in Article EIGHTH; and 

“ING Group” shall have the meaning set forth in Article EIGHTH. 

FIFTEENTH. OWNERSHIP LIMIT 
 Section 1. Definitions. As used in this Article FIFTEENTH, the following capitalized terms have the following meanings when used herein with initial capital letters (and any references to any
portions of Treas. Reg. § 1.382–2T shall include any successor provisions): 
 “Agent” has the meaning set
forth in Section 5 of this Article FIFTEENTH. 
 “Board of Directors” or “Board” means the Board of
Directors of the Corporation, including any duly authorized committee thereof. 

  
 B-8

 “Business Day” shall mean any day other than a Saturday, a Sunday, or a day on
which banking institutions in New York, New York are generally authorized or obligated by law or executive order to close. 
 A
Person shall be deemed the “Beneficial Owner”, and to have “Beneficial Ownership” of, and to “Beneficially Own”, any securities (i) which such Person directly owns, (ii) which such Person would be deemed to
indirectly or constructively own for purposes of Section 382 of the Code and the Treasury Regulations promulgated thereunder or (iii) which any other Person Beneficially Owns, but only if such Person and such other Person are part of the
same group of Persons that, with respect to such security, are treated as one “entity” as defined under Treasury Regulation 1.382-3(a)(1). 
 “Close of Business” on any given date shall mean 5:00 p.m., New York City time on such date, or, if such date is not a Business Day, 5:00 p.m. New York City time on the next succeeding Business
Day. 
 “Code” means the United States Internal Revenue Code of 1986, as amended from time to time, including any
successor statute. 
 “Common Stock” shall mean the shares of Common Stock, par value $0.01 per share, of the
Corporation and shares of capital stock of the Corporation issued in exchange or substitution for such Common Stock. 

“Corporation Security” or “Corporation Securities” means (i) shares of Common Stock, (ii) warrants, rights,
or options (including options within the meaning of Treas. Reg. § 1.382–2T(h)(4)(v) and Treas. Reg. § 1.382–4(d)(9)) to purchase Securities of the Corporation and (iii) any Stock. 

“Excess Securities” has the meaning given such term in Section 4(a) of this Article FIFTEENTH; 

“Exchange Act” means the Securities Exchange Act of 1934, as amended from time to time. 

“Expiration Date” means the earliest of (i) the date of the occurrence of an Ownership Change resulting from the sale of
Stock by ING Group; (ii) the date upon which the Board of Directors receives, at the Board’s request, a report from the Corporation’s advisors to the effect that due to the repeal of Section 382 of the Code, or any other change
in law, this Article FIFTEENTH is no longer necessary for the preservation of Tax Benefits; (iii) the first day of any taxable year of the Corporation with respect to which the Board of Directors receives, at the Board’s request, a report
from the Corporation’s advisors to the effect that no Tax Benefits may be carried forward; or (iv) such date as the Board of Directors determines for the restrictions set forth in Section 2 of this Article FIFTEENTH to terminate. In
the case of a termination of this Article FIFTEENTH, the Board shall cause the prompt public announcement of such termination in such manner as the Board determines is appropriate under the circumstances. 

“Five Percent Transaction” has the meaning set forth in Section 2(a) of this Article FIFTEENTH. 

  
 B-9

 “Five Percent Stockholder” means a Person with a Beneficial Ownership of 4.99% or
more of (i) the Common Stock then outstanding or (ii) any class of Stock (other than Common Stock) then outstanding. 

“ING Group” has the meaning set forth in Article EIGHTH. 

“ING Group Warrants” means the warrants to purchase Common Stock initially issued to ING Group upon the consummation of the
Corporation’s initial public offering of Common Stock. 
 “Market Price” per share of any securities on any date
shall mean the average of the daily closing prices per share of such securities (determined as described below) on each of the 20 consecutive Trading Days through and including the Trading Day immediately preceding such date; provided, however, that
if any dividend, share split or any analogous event, shall have caused the closing prices used to determine the Market Price on any Trading Days during such period of 20 Trading Days not to be fully comparable with the closing price on such date,
each such closing price so used shall be appropriately adjusted by the Board of Directors in order to make it fully comparable with the closing price on such date. The closing price per share of any securities on any Trading Day shall be the last
reported sale price, regular way, or, in case no such sale takes place or is quoted on such date, the average of the closing bid and asked prices, regular way, for each share of such securities, in either case as reported in the principal
consolidated transaction reporting system with respect to securities listed on the NYSE or, if the securities are not listed on the NYSE, as reported on the NASDAQ Stock Market or, if the securities are not listed on the NYSE or NASDAQ Stock Market,
as reported in the principal consolidated transaction reporting system with respect to the principal national securities exchange on which the securities are listed or admitted to trading or, if the securities are not listed or admitted to trading
on any national securities exchange, as reported by such other quotation system then in use or, if on any such Trading Day the securities are not listed or admitted to trading on any national securities exchange or quoted by any such quotation
system, the average of the closing bid and asked prices in the over-the-counter market as furnished by a professional market maker making a market in the securities selected by the Board of Directors; provided, however, that if on any such Trading
Day the securities are not listed or admitted to trading on a national securities exchange or traded in the over-the-counter market, the closing price per share of such securities on such date shall mean the fair market value per share of such
securities on such Trading Day as determined in good faith by the Board of Directors, after consultation with a nationally recognized investment banking firm. 
 “Ownership Change” shall mean a 50 percentage point increase in the percentage of the Beneficial Ownership of the Corporation Securities held by a Five Percent Stockholder on a cumulative basis
in any three-year period, as such concept is interpreted under Section 382(g) of the Code. 
 “Person” shall mean
any individual, firm, partnership, limited liability company, trust, association, limited liability partnership, corporation or other “entity” within the meaning of Treasury Regulation Section 1.382 3(a)(1)(i) and shall include any
successor (by merger or otherwise) of any such entity. 

  
 B-10

 “Prohibited Distributions” means any and all dividends or other distributions paid
by the Corporation with respect to any Excess Securities received by a Purported Transferee. 
 “Prohibited Transfer”
means any Transfer or purported Transfer of Corporation Securities to the extent that such Transfer is prohibited and/or void under this Article FIFTEENTH. 
 “Proposed Transaction” has the meaning set forth in Section 3(b) of this Article FIFTEENTH. 
 “Purported Transferee” has the meaning set forth in Section 4(a) of this Article FIFTEENTH. 
 “Request” has the meaning set forth in Section 3(b) of this Article FIFTEENTH. 
 “Requesting Person” has the meaning set forth in Section 3(b) of this Article FIFTEENTH. 
 “Securities” and “Security” each has the meaning set forth in Section 7 of this Article FIFTEENTH. 
 “Security Entitlement” has the meaning set forth in Section 8–102(17) of the Delaware Uniform Commercial Code, as amended from time to time. 

“Stock” means any interest or Security Entitlement that would be treated as “stock” of the Corporation pursuant to
Treas. Reg. § 1.382–2(a)(3) or Treas. Reg. § 1.382–2T(f)(18). 
 “Subsidiary” or
“Subsidiaries” of any specified Person means any Corporation or other entity a majority of the voting power of the equity securities or a majority of the equity or membership interest is owned, directly or indirectly, by such Person.

 “Tax Benefits” includes the net operating loss carryovers, capital loss carryovers, general business credit
carryovers, alternative minimum tax credit carryovers and foreign tax credit carryovers, as well as any loss or deduction attributable to a “net unrealized built-in loss” of the Corporation or any of its Subsidiaries as of
December 31, 2012, within the meaning of Section 382 of the Code. 
 “Trading Day,” when used with respect
to any securities, means a day on which the NYSE is open for the transaction of business or, if such securities are not listed or admitted to trading on the NYSE, a day on which the principal national securities exchange on which such securities are
listed or admitted to trading is open for the transaction of business or, if such securities are not listed or admitted to trading on any national securities exchange, a day on which the principal automated quotation system that reports trading in
such securities is open for transaction of business or, if such securities are not listed on a national securities exchange or quoted on an automated quotation system, a Business Day. 

  
 B-11

 “Transfer” means any direct, indirect or deemed sale, transfer, assignment,
conveyance, pledge or other disposition or other action taken by a Person, other than the Corporation, that alters the Beneficial Ownership of any Person. A Transfer shall also include the creation or grant of an option (including an option within
the meaning of Treas. Reg. § 1.382–2T(h)(4)(v) or Treas. Reg. § 1.382–4(d)(9)) and the issuance by the Corporation of Stock upon the exercise of an option or warrant. For the avoidance of doubt, a Transfer shall not include
(i) the creation or grant of an option by the Corporation or (ii) the issuance or grant of Stock by the Corporation (except for stock issued upon the exercise of any warrant issued by the Corporation). 

“Transferee” means, with respect to any Transfer, any Person to whom Corporation Securities are, or are proposed to be,
Transferred. 
 “Transferor” means, with respect to any Transfer, any Person by or from whom Corporation Securities
are, or are proposed to be, Transferred. 
 “Treasury Regulations” means the regulations, including temporary
regulations or any successor regulations promulgated under the Code, as amended from time to time. 
 Section 2. Transfer
and Ownership Restrictions. 
 (a) In order to preserve the Corporation’s ability to use the Tax Benefits to offset income,
until the Expiration Date no Person other than the Corporation shall, except as provided in Section 3(a) below, Transfer to any Person (and any such attempted Transfer shall be void ab initio), any direct or indirect interest in any Corporation
Securities to the extent that such Transfer, if effective, would cause the transferee or any other Person to become a Five Percent Stockholder, or would cause the Beneficial Ownership of a Five Percent Stockholder to increase (any such Transfer, a
“Five Percent Transaction”). The prior sentence shall not preclude either the Transfer to the Depository Trust Company (“DTC”), Clearing and Depository Services (“CDS”) or to any other securities intermediary, as such
term is defined in § 8-102(14) of the Uniform Commercial Code, of Corporation Securities not previously held through DTC, CDS or such intermediary or the settlement of any transactions in the Corporation Securities entered into through the
facilities of a national securities exchange, any national securities quotation system or any electronic or other alternative trading system; provided that, if such Transfer or the settlement of the transaction would result in a Prohibited Transfer,
such Transfer shall nonetheless be a Prohibited Transfer subject to all of the provisions and limitations set forth in the remainder of this Article FIFTEENTH. 
 Section 3. Exceptions; Waiver of Transfer and Ownership Restrictions. 
 (a)
Any Transfer of Corporation Securities that would otherwise be prohibited and/or void under this Article FIFTEENTH shall nonetheless be permitted if (i) prior to such Transfer being consummated (or, in the case of an involuntary Transfer, as
soon as practicable after the transaction is consummated), the Board of Directors approves the Transfer in accordance with Section 3(b) or 3(c) of this Article FIFTEENTH (such approval may relate to a Transfer or series of identified Transfers
and may provide the effective time 

  
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of such transfer which could be retroactive), (ii) such Transfer is pursuant to any transaction, including, but not limited to, a merger, consolidation, mandatory share exchange or other
business combination in which all holders of Corporation Securities receive, or are offered the same opportunity to receive, cash or other consideration for all such Corporation Securities, and upon the consummation of which the acquiror owns at
least a majority of the outstanding shares of Common Stock, (iii) such Transfer is a Transfer to any employee stock ownership or other employee benefit plan of the Corporation or a Subsidiary of the Corporation (or any entity or trustee holding
shares of Common Stock for or pursuant to the terms of any such plan or for the purpose of funding any such plan or funding other employee benefits for employees of the Corporation or of any Subsidiary of the Corporation), (iv) such Transfer is
a Transfer by a member of the ING Group (including Transfers made indirectly through any underwriter, dealer or initial purchaser), or (v) such Transfer consists of the issuance of Stock by the Corporation upon the exercise of any ING Group
Warrants. 
 (b) The restrictions contained in this Article FIFTEENTH are for the purposes of reducing the risk that any
Ownership Change or any other ownership change for purposes of Section 382 with respect to the Corporation may limit the Corporation’s ability to utilize its Tax Benefits. The restrictions set forth in Section 2(a) of this Article
FIFTEENTH shall not apply to a proposed Transfer that is a Five Percent Transaction if the Transferor or the Transferee obtains the authorization of the Board of Directors in the manner described below. In connection therewith, and to provide for
effective policing of these provisions, any Person who desires to effect a transaction that may be a Five Percent Transaction (a “Requesting Person”) shall, prior to the date of such transaction for which the Requesting Person seeks
authorization (the “Proposed Transaction”), request in writing (a “Request”) that the Board of Directors review the Proposed Transaction and authorize or not authorize the Proposed Transaction in accordance with this
Section 3(b). A Request shall be delivered by registered mail, return receipt requested, to the Secretary of the Corporation at the Corporation’s principal executive office. Such Request shall be deemed to have been made when actually
received by the Corporation. A Request shall include: (i) the name and address and telephone number of the Requesting Person; (ii) the number and percentage of Corporation Securities then Beneficially Owned by the Requesting Person and
(iii) a reasonably detailed description of the Proposed Transaction or Proposed Transactions by which the Requesting Person would propose to effect a Five Percent Transaction and the proposed tax treatment thereof. The Board of Directors shall,
in good faith, endeavor to respond to a Request within twenty (20) Business Days of receiving such Request; provided that the failure of the Board of Directors to make a determination within such period shall be deemed to constitute the denial
by the Board of Directors of the Request. The Requesting Person shall respond promptly to reasonable and appropriate requests for additional information from the Corporation or the Board of Directors and its advisors to assist the Board of Directors
in making its determination. The Board of Directors shall only authorize a Proposed Transaction if it receives, at the Board’s request, a report from the Corporation’s advisors to the effect that the Proposed Transaction does not create a
significant risk of material adverse tax consequences to the Corporation or the Board of Directors otherwise determines in its sole discretion that granting the Request is in the best interests of the Corporation. Any Request may be submitted on a
confidential basis and, except to the extent required by applicable law, the Corporation shall maintain the confidentiality of such Request and the determination of the Board of Directors with respect thereto, unless the information contained in the
Request or the determination of the Board of Directors with 

  
 B-13

 
respect thereto otherwise becomes publicly available. The Request shall be considered and evaluated by directors serving on the Board of Directors who are independent of the Corporation and the
Requesting Person and disinterested with respect to the Request, who shall constitute a committee of the Board for this purpose, and the action of a majority of such independent and disinterested directors, or any committee of the Board consisting
solely of these directors, shall be deemed to be the determination of the Board of Directors for purposes of such Request. Furthermore, the Board of Directors shall approve within ten (10) Business Days of receiving a Request as provided in
this Section 3(b) of any proposed Transfer that does not cause any aggregate increase in the Beneficial Ownership of Stock by Five Percent Stockholders (as determined after giving effect to the proposed Transfer) over the lowest Beneficial
Ownership of Stock by such Five Percent Stockholders (as determined immediately before the proposed Transfer) at any time during the relevant testing period, in all cases for purposes of Section 382 of the Code. For the avoidance of doubt, for
purposes of the foregoing sentence, all Transfers shall be taken into account notwithstanding that pursuant to Notice 2008-84 (and any regulations issued pursuant thereto) no testing date may have occurred with respect to such Transfer. 

(c) In addition to Section 3(b), the Board of Directors may determine that the restrictions set forth in Section 2(a) of this
Article FIFTEENTH shall not apply to any particular transaction or transactions, whether or not a request has been made to the Board of Directors, including a Request pursuant to Section 3(b) of this Article FIFTEENTH, subject to any conditions
that it deems reasonable and appropriate in connection therewith. Any determination of the Board of Directors hereunder may be made prospectively or retroactively. 
 (d) The Board of Directors, to the fullest extent permitted by law, may exercise the authority granted by this Article FIFTEENTH through duly authorized officers or agents of the Corporation. 

Section 4. Excess Securities. 
 (a) No employee or agent of the Corporation shall record any Prohibited Transfer, and the purported Transferee of such a Prohibited Transfer (the “Purported Transferee”) shall not be recognized
as a stockholder of the Corporation for any purpose whatsoever in respect of the Corporation Securities which are the subject of the Prohibited Transfer (the “Excess Securities”). Until the Excess Securities are acquired by another Person
in a Transfer that is not a Prohibited Transfer, the Purported Transferee shall not be entitled to any rights thereunder, including rights of stockholders of the Corporation with respect to such Excess Securities, including, without limitation, the
right to vote such Excess Securities and to receive dividends or distributions, whether liquidating or otherwise, in respect thereof, if any, and the Excess Securities shall be deemed to remain with the Transferor unless and until the Excess
Securities are transferred to the Agent pursuant to Section 5 of this Article FIFTEENTH or until an approval is obtained under Section 3 of this Article FIFTEENTH. After the Excess Securities have been acquired in a Transfer that is not a
Prohibited Transfer, the Corporation Securities shall cease to be Excess Securities. For this purpose, any Transfer of Excess Securities not in accordance with the provisions of this Section 4 or Section 5 of this Article FIFTEENTH shall
also be a Prohibited Transfer. 

  
 B-14

 (b) The Corporation may make such arrangements or issue such instructions to its stock
transfer agent as may be determined by the Board of Directors to be necessary or advisable to implement this Article FIFTEENTH, including, without limitation, authorizing, in accordance with Section 9 of this Article FIFTEENTH, such transfer
agent to require an affidavit from a Purported Transferee regarding such Person’s Beneficial Ownership of Stock and other evidence that a Transfer will not be prohibited by this Article FIFTEENTH as a condition to registering any Transfer.

 Section 5. Transfer to Agent. If the Board of Directors determines that a Transfer of Corporation Securities constitutes
a Prohibited Transfer then, upon written demand by the Corporation sent within thirty (30) days of the date on which the Board of Directors determines that the attempted Transfer constitutes a Prohibited Transfer, the Purported Transferee shall
transfer or cause to be transferred any certificate or other evidence of ownership of the Excess Securities within the Purported Transferee’s possession or control, together with any Prohibited Distributions, or, in the case of uncertificated
Stock, shall automatically be deemed to be transferred to an agent designated by the Board of Directors (the “Agent”). The Agent shall thereupon sell to a buyer or buyers, which may include the Corporation, the Excess Securities
transferred to it in one or more arm’s-length transactions (on the public securities market on which such Excess Securities are traded, if possible, or otherwise privately); provided, however, that any such sale must not constitute a Prohibited
Transfer; and provided further that the Agent shall effect such sale or sales in an orderly fashion and shall not be required to effect any such sale within any specific time frame if, in the Agent’s discretion, such sale or sales would disrupt
the market for the Corporation Securities, would otherwise adversely affect the value of the Corporation Securities or would be in violation of applicable securities laws. If the Purported Transferee has resold the Excess Securities before receiving
the Corporation’s demand to surrender Excess Securities to the Agent, the Purported Transferee shall be deemed to have sold the Excess Securities for the Agent, and shall be required to transfer to the Agent any Prohibited Distributions and
proceeds of such sale, except to the extent that the Corporation grants written permission to the Purported Transferee to retain a portion of such sales proceeds and Prohibited Distributions not exceeding the amount that the Purported Transferee
would have received from the Agent pursuant to Section 6 of this Article FIFTEENTH if the Agent rather than the Purported Transferee had resold the Excess Securities for an amount equal to the proceeds of such sale by the Purported Transferee
(and taking into account only the actual costs incurred by the Agent). 
 Section 6. Application of Proceeds and Prohibited
Distributions. The Agent shall apply any proceeds of a sale by it of Excess Securities and, if the Purported Transferee has previously resold the Excess Securities, any amounts received by the Agent from a Purported Transferee, together, in either
case, with any Prohibited Distributions, as follows: (a) first, such amounts shall be paid to the Agent to the extent necessary to cover its costs and expenses incurred in connection with its duties hereunder; (b) second, any remaining
amounts shall be paid to the Purported Transferee, up to the amount paid by the Purported Transferee for the Excess Securities (or the Market Price at the time of the Transfer, in the event the purported Transfer of the Excess Securities was, in
whole or in part, a gift, inheritance or similar Transfer); and (c) third, any remaining amounts shall be paid to the Transferor that was party to the subject Prohibited Transfer, or, if the Transferor that was party to the subject Prohibited
Transfer cannot be readily identified, to one or more 

  
 B-15

 
organizations qualifying under section 501(c)(3) of the Code (or any comparable successor provision) selected by the Board of Directors. The Purported Transferee of Excess Securities shall have
no claim, cause of action or any other recourse whatsoever against any Transferor of Excess Securities. The Purported Transferee’s sole right with respect to such shares shall be limited to the amount payable to the Purported Transferee
pursuant to this Section 6. In no event shall the proceeds of any sale of Excess Securities pursuant to this Section 6 inure to the benefit of the Corporation or the Agent, except to the extent used to cover costs and expenses incurred by
the Agent in performing its duties hereunder. 
 Section 7. Modification of Remedies for Certain Indirect Transfers. In the
event of any Transfer that does not involve a transfer of securities of the Corporation within the meaning of Delaware law (“Securities,” and individually, a “Security”) but which would cause the transferee or any other Person to
become a Five Percent Stockholder, or would cause the Beneficial Ownership of a Five Percent Stockholder to increase, the application of Section 5 and Section 6 of this Article FIFTEENTH shall be modified as described in this
Section 7. In such case, no such Five Percent Stockholder shall be required to dispose of any interest that is not a Security, but such Five Percent Stockholder and/or any Person whose ownership of Securities is attributed to such Five Percent
Stockholder shall be deemed to have disposed of and shall be required to dispose of sufficient Securities (which Securities shall be disposed of in the inverse order in which they were acquired) to cause such Five Percent Stockholder, following such
disposition, not to be in violation of this Article FIFTEENTH. Such disposition shall be deemed to occur simultaneously with the Transfer giving rise to the application of this provision, and such number of Securities that are deemed to be disposed
of shall be considered Excess Securities and shall be disposed of through the Agent as provided in Sections 5 and 6 of this Article FIFTEENTH, except that the maximum aggregate amount payable either to such Five Percent Stockholder, or to such other
Person that was the direct holder of such Excess Securities, in connection with such sale shall be the Market Price of such Excess Securities at the time of the purported Transfer. All expenses incurred by the Agent in disposing of such Excess
Securities shall be paid out of any amounts due such Five Percent Stockholder or such other Person. The purpose of this Section 7 is to extend the restrictions in Sections 2 and 4 of this Article FIFTEENTH to situations in which there is a Five
Percent Transaction without a direct Transfer of Securities, and this Section 7, along with the other provisions of this Article FIFTEENTH, shall be interpreted to produce the same results, with differences as the context requires, as a direct
Transfer of Corporation Securities. 
 Section 8. Legal Proceedings; Prompt Enforcement. If the Purported Transferee fails
to surrender the Excess Securities or the proceeds of a sale thereof, in either case, with any Prohibited Distributions, to the Agent within thirty (30) days from the date on which the Corporation makes a written demand pursuant to
Section 5 of this Article FIFTEENTH (whether or not made within the time specified in Section 5 of this Article FIFTEENTH), then the Corporation may take any actions it deems necessary to enforce the provisions hereof, including the
institution of legal proceedings to compel the surrender. Nothing in this Section 8 shall (a) be deemed inconsistent with any Transfer of the Excess Securities provided in this Article FIFTEENTH being void ab initio, (b) preclude the
Corporation in its discretion from immediately bringing legal proceedings without a prior demand or (c) cause any failure of the Corporation to act within the time periods set forth in Section 5 of this Article FIFTEENTH to constitute a
waiver or loss of any right of the Corporation under this Article FIFTEENTH. The Board of Directors may authorize such additional actions as it deems advisable to give effect to the provisions of this Article FIFTEENTH. 

  
 B-16

 Section 9. Obligation to Provide Information. As a condition to the registration of the
Transfer of any Stock, any Person who is a beneficial, legal or record holder of Stock, and any proposed Transferee and any Person controlling, controlled by or under common control with the proposed Transferee, shall provide such information, to
the extent reasonably available and legally permissible, as the Corporation may reasonably request from time to time in order to determine compliance with this Article FIFTEENTH or the status of the Tax Benefits of the Corporation. 

Section 10. Legends. The Board of Directors may require that the registration of the Stock on the stock transfer books of the
Corporation, or any certificates issued by the Corporation evidencing ownership of shares of Stock that are subject to the restrictions on transfer and ownership contained in this Article FIFTEENTH bear the following legend: 

“THE TRANSFER OF SECURITIES REPRESENTED HEREBY IS SUBJECT TO RESTRICTION PURSUANT TO ARTICLE FIFTEENTH OF THE AMENDED AND RESTATED
CERTIFICATE OF INCORPORATION OF ING U.S, INC., AS AMENDED AND IN EFFECT FROM TIME TO TIME, A COPY OF WHICH MAY BE OBTAINED FROM THE CORPORATION UPON REQUEST.” 
 The Board of Directors may also require that any certificates or other evidence of ownership issued by the Corporation evidencing ownership of shares of Stock that are subject to conditions imposed by the
Board of Directors under Section 3 of this Article FIFTEENTH also bear a conspicuous legend referencing the applicable restrictions. 
 The Corporation shall have the power to make appropriate notations upon its stock transfer records or other evidence of ownership and to instruct any transfer agent, registrar, securities intermediary or
depository with respect to the requirements of this Article FIFTEENTH for any uncertificated Corporation Securities or Corporation Securities held in an indirect holding system. 

Section 11. Authority of Board of Directors. 
 (a) All determinations and interpretations of the Board of Directors shall be interpreted or determined, as the case may be, by the Board of Directors in its sole discretion and shall be conclusive and
binding for all purposes of this Article FIFTEENTH. 
 (b) The Board of Directors shall have the power to determine all matters
necessary for assessing compliance with this Article FIFTEENTH, including, without limitation, (i) the identification of Five Percent Stockholders, (ii) whether a Transfer is a Five Percent Transaction or a Prohibited Transfer,
(iii) the Beneficial Ownership in the Corporation of any Five Percent Stockholder, (iv) whether an instrument constitutes a Corporation Security, (v) the amount (or Market Price) due to a Purported Transferee pursuant to
Section 6 of this Article FIFTEENTH, and (vi) any other matters which the 

  
 B-17

 
Board of Directors determines to be relevant; and the good faith determination of the Board of Directors on such matters shall be conclusive and binding for all the purposes of this Article
FIFTEENTH. In addition, the Board of Directors may, to the extent permitted by law, from time to time establish, modify, amend or rescind by-laws, regulations and procedures of the Corporation not inconsistent with the provisions of this Article
FIFTEENTH for purposes of determining whether any Transfer of Corporation Securities would jeopardize the Corporation’s ability to preserve and use the Tax Benefits and for the orderly application, administration and implementation of this
Article FIFTEENTH. 
 (c) Nothing contained in this Article FIFTEENTH shall limit the authority of the Board of Directors to
take such other action to the extent permitted by law as it deems necessary or advisable to protect the Corporation and its stockholders in preserving the Tax Benefits. Without limiting the generality of the foregoing, in the event of a change in
law making one or more of the following actions necessary or desirable, the Board of Directors may, by adopting a written resolution, (i) modify the definition of Beneficial Ownership in the Corporation, Five Percent Stockholder or the Persons
covered by this Article FIFTEENTH, (ii) modify the definitions of any other terms set forth in this Article FIFTEENTH or (iii) modify the terms of this Article FIFTEENTH as appropriate, in each case, in order to prevent an Ownership Change
or any other ownership change for purposes of Section 382 of the Code (or other sections of the Code or any similar state law, if applicable) as a result of any changes in applicable law or otherwise; provided, however, that the Board of
Directors shall not cause there to be such modification unless it receives a report, at the Board’s request, from the Corporation’s advisors to the effect that such action is reasonably necessary or advisable to preserve the Tax Benefits
or that the continuation of certain restrictions is no longer reasonably necessary for the preservation of the Tax Benefits. The Board shall cause the prompt public announcement of such modification in such manner as the Board determines appropriate
under the circumstances. In the case of an ambiguity in the application of any of the provisions of this Article FIFTEENTH, including any definition used herein, the Board of Directors shall have the power to determine the application of such
provisions with respect to any situation based on its reasonable belief, understanding or knowledge of the circumstances. In the event this Article FIFTEENTH requires an action by the Board of Directors but fails to provide specific guidance with
respect to such action, the Board of Directors shall have the power to determine the action to be taken so long as such action is not contrary to the provisions of this Article FIFTEENTH. All such actions, calculations, interpretations and
determinations that are done or made by the Board of Directors in good faith shall be conclusive and binding on the Corporation, the Agent, and all other Persons for all other purposes of this Article FIFTEENTH. The Board of Directors may delegate
all or any portion of its duties and powers under this Article FIFTEENTH to a committee of the Board of Directors as it deems necessary or advisable and, to the fullest extent permitted by law, may exercise the authority granted by this Article
FIFTEENTH through duly authorized officers or agents of the Corporation. 
 Section 12. Reliance. To the fullest extent
permitted by law, the Corporation and the members of the Board of Directors shall be fully protected in relying in good faith upon the information, opinions, reports or statements of the chief executive officer, the chief financial officer, the
chief accounting officer or the corporate controller or other executive officers of the Corporation or of the Corporation’s legal counsel, independent auditors, transfer agent, investment bankers or other employees and agents in making the

  
 B-18

 
determinations and findings contemplated by this Article FIFTEENTH, and the members of the Board of Directors shall not be responsible for any good faith errors made in connection therewith. For
purposes of determining the existence and identity of, and the amount of any Corporation Securities Beneficially Owned by any stockholder, the Corporation is entitled to rely on the existence and absence of filings of Schedule 13D or 13G under the
Exchange Act (or similar filings), as of any date, subject to its actual knowledge of the ownership of Corporation Securities. 

Section 13. Benefits of This Article FIFTEENTH. Nothing in this Article FIFTEENTH shall be construed to give to any Person other
than the Corporation or the Agent any legal or equitable right, remedy or claim under this Article FIFTEENTH. This Article FIFTEENTH shall be for the sole and exclusive benefit of the Corporation and the Agent. 

Section 14. Severability. The purpose of this Article FIFTEENTH is to facilitate the Corporation’s ability to maintain or
preserve its Tax Benefits. If any provision of this Article FIFTEENTH or the application of any such provision to any Person or under any circumstance shall be held invalid, illegal or unenforceable in any respect by a court of competent
jurisdiction, such invalidity, illegality or unenforceability shall not affect any other provision of this Article FIFTEENTH. 

Section 15. Waiver. With regard to any power, remedy or right provided herein or otherwise available to the Corporation or the Agent
under this Article FIFTEENTH, (a) no waiver will be effective unless expressly contained in a writing signed by the waiving party, and (b) no alteration, modification or impairment will be implied by reason of any previous waiver,
extension of time, delay or omission in exercise, or other indulgence. 
 Section 16. Limitation of Liability. To the
maximum extent permitted by Delaware law, no director of the Corporation shall be liable for any breach of any duty under this Article FIFTEENTH, it being understood that no director shall be responsible to the Corporation, any stockholder or any
other Person for any action taken or omitted to be taken under this Article FIFTEENTH. In particular, without creating any liability to any Person, the Board may distinguish between stockholders in connection with any Request under this Article
FIFTEENTH. 
 SIXTEENTH. Unless the Corporation consents in writing to the selection of an alternative forum, the Court of
Chancery of the State of Delaware shall be the sole and exclusive forum for (i) any derivative action or proceeding brought on behalf of the Corporation, (ii) any action asserting a claim of breach of a fiduciary duty owed by any director,
officer or other employee of the Corporation to the Corporation or the Corporation’s stockholders, (iii) any action asserting a claim arising pursuant to any provision of the Delaware General Corporation Law, or (iv) any action
asserting a claim governed by the internal affairs doctrine. 
 3. This Amended and Restated Certificate of Incorporation has
been duly adopted by both the Corporation’s board of directors and its stockholders in accordance with the provisions of Sections 242 and 245 of the DGCL. 

  
 B-19

 4. This Amended and Restated Certificate of Incorporation shall be effective upon filing
with the Secretary of State of the State of Delaware. 
 IN WITNESS WHEREOF, I have signed this Amended and Restated Certificate
of Incorporation this eleventh day of April, 2013. 
  

	
	  
	

  
 B-20

 ANNEX C 
 Form of Amended and Restated By-Laws 
 [see Exhibit 3.1]

  
 C-1

 ANNEX D 
 Form of Common Interest Agreement 
 FORM OF COMMON INTEREST AGREEMENT

 This COMMON INTEREST AGREEMENT (“Agreement”) is hereby entered into by and between ING Groep N.V.
(“ING Group”) and ING U.S., Inc. (“ING U.S.”) (collectively, the “Parties”, and each individually, a “Party”). This Agreement is entered into subsequent to the [DATE] initial public offering of ING U.S. common
stock (the “Common Stock”), after which ING Group has continued to own shares of Common Stock (the “Transaction”), pursuant to the Shareholder Agreement dated
[            ], 2013 (the “Shareholder Agreement”), between the Parties, and concerns the common interest of the Parties with respect to
            (the “[Designation for Specific Legal Matter]”). 
 WHEREAS, each of the Parties has determined that it may be in its best interest to exchange with the other Party certain limited information, documents, opinions, analyses, and other materials protected
from disclosure by the attorney-client privilege and/or the attorney work product immunity doctrine, for the sole purpose of exploring issues common to both Parties, particularly in light of each Party’s respective interests as a result of the
Transaction and rights and obligations under the Shareholder Agreement, and assessing potential litigation and other risks in connection with the [Designation for Specific Legal Matter]; 

NOW, THEREFORE, it is hereby agreed by and between the undersigned, as follows: 

1. The Parties are entering into this Agreement to confirm their mutual intention that all privileged and/or protected information that
the Parties have exchanged in the past or will exchange in the future concerning the [Designation for Specific Legal Matter] shall retain its privileged and/or protected status, and that no privileges or immunities from disclosure are intended to be
or shall be waived by virtue of any sharing pursuant to the terms of this Agreement. 
 2. The Parties agree that they share a
common legal interest related to their defense of the [Designation for Specific Legal Matter], which has been and will continue to be furthered by the disclosure of communications between the Parties and their counsel protected by the
attorney-client privilege or the attorney work product immunity doctrine. Accordingly, the Parties agree that the Parties and their counsel may continue to exchange material related to [Designation for Specific Legal Matter] without waiver of any
privileges, immunities or protections that attach to such material. 

  
 D-1

 3. In order to effectively pursue and protect their common legal interests, the Parties have
concluded that their interests are best served by sharing documents, factual material, mental impressions, memoranda, strategies, legal theories, interview reports, and other information, communications, and confidences related to the [Designation
for Specific Legal Matter] (hereinafter “Common Interest Materials”). In the absence of such sharing, these Common Interest Materials would be privileged from disclosure to adverse or other parties as a result of the attorney-client
privilege, the attorney work-product immunity doctrine, or other applicable privileges or protections. 
 4. It is the intention
and understanding of the Parties and their respective counsel that all Common Interest Materials, including (a) any memoranda of or communications made in, and the content and results of, all joint conferences of counsel or in discussions
between representatives of a Party and counsel the other Party, (b) any and all correspondence or exchanges of documents and other information concerning the [Designation for Specific Legal Matter], and (c) all other Common Interest
Materials of whatever nature, are intended to be confidential and protected from disclosure to any third party by the attorney-client privilege, the attorney work-product doctrine and other applicable doctrines, privileges or protections, to the
same extent and degree as if such communications, correspondence and exchanges of documents and other information had been solely between or among each of the Parties and its own respective counsel. 

5. The Parties and their counsel will not disclose Common Interest Materials, or the contents thereof, to anyone except their respective
in-house or outside counsel, paralegals, or other staff of such outside counsel, experts, and consultants retained for the [Designation for Specific Legal Matter], and their own employees on “need to know” basis, without first obtaining
the consent of the other Party. All persons to whom Common Interest Materials are provided shall be under an obligation to maintain their confidentiality and to use them only as permitted by this Agreement. Each party agrees that any inadvertent or
purposeful disclosure by any Party of Common Interest Materials shall not constitute or be deemed a waiver by the producing Party of any applicable privilege or other legal protection. 

6. Nothing in this Agreement shall limit the right of any signatory to disclose any documents or information independently obtained from
a third party having no obligations of confidence to any Party herein. Nothing herein shall affect or in any manner limit the rights or discretion of a Party or its counsel to dispose of, disclose to others, or otherwise use Common Interest
Materials originating with that Party (i.e., Common Interest Materials not provided to that Party by another Party). Nothing in this Agreement shall limit the right of a Party to add or change its counsel. 

7. Except as otherwise provided in this Agreement, any shared Common Interest Materials, and the information contained therein, shall be
used by the Parties and their counsel solely in connection with the [Designation for Specific Legal Matter]. In the event a Party or its counsel receives a subpoena or other legal process calling for the production of any Common Interest Materials
received pursuant to this Agreement, the person receiving the request shall provide prompt notice and afford the person who provided the Common Interest Materials an opportunity to object. Absent the consent of the other Party, the Party receiving
the subpoena or other legal process shall not produce such Common Interest Materials prior to the time production is legally required. 

  
 D-2

 8. Nothing in this Agreement shall be construed to (a) affect the separate and
independent representation of each Party by its respective counsel according to what its counsel believes to be in the Party’s best interests, or (b) create an attorney-client relationship between any counsel and anyone other than the
client of that counsel. The fact that the Parties have entered into this Agreement shall not in any way preclude counsel for any Party from representing any interest that may be construed to be adverse to the other Party to this Agreement. Nor shall
counsel for either Party be disqualified from representing any Party it currently represents or examining or cross-examining any Party or agent of a Party who testifies in any proceeding because of such counsel’s receipt of information pursuant
to this Agreement. 
 9. This Agreement shall continue in effect notwithstanding completion of the [Designation for Specific
Legal Matter]. Each of the Parties agrees that it will continue to be bound by this Agreement following any such completion. 

10. Any waiver in a particular instance of the rights and limitations contained herein shall not be deemed, and is not intended to be, a
general waiver of any rights or limitations contained herein, and shall not operate as a waiver beyond the particular instance. 

11. In the event that any third party, including a government securities enforcement authority, requests, requires or demands, by
subpoena or otherwise, Common Interest Materials from a Party, the Party receiving such request or demand will, if and to the extent not prohibited by applicable laws or regulations, (i) promptly notify the other Party and (ii) thereafter
take all steps reasonably requested by the other Party to defend against the disclosure of Common Interest Materials and to permit the assertion of all applicable rights and privileges with respect to Common Interest Materials. 

12. In view of the nature of the obligations undertaken in this Agreement, it is agreed and understood that money damages or other relief
at law would not adequately remedy any violation or threatened violation of its terms. Specific performance, injunctive relief, and other appropriate relief shall be available against a Party or any other person found to have violated or to be about
to violate any of the terms of this Agreement. 
 13. This Agreement constitutes the sole and complete agreement between and
among the Parties relating to Common Interest Materials. 

  
 D-3

 14. Any modifications to this Agreement must be in writing and signed by all Parties.

 15. This Agreement may be executed in counterparts, each of which shall be deemed an original, but all of which together
shall constitute one and the same instrument. Delivery of an executed counterpart of this Agreement by facsimile or pdf shall be equally effective as delivery of the original, and shall not affect the validity, enforceability or binding effect of
this Agreement. 
 16. This Agreement is governed by and shall be construed in accordance with the laws of the State of New York
(without regard to its choice of law principles). In addition, each Party hereby irrevocably submits to the exclusive jurisdiction of the federal and state courts located in the Borough of Manhattan, the State of New York, in respect of any claim or
dispute arising out of or relating to this Agreement. Each Party hereby irrevocably waives any objection which it may now or hereafter have to the federal and the state courts located in the Borough of Manhattan, the State of New York, being
nominated as the forum to hear and determine any proceedings and to settle any disputes and agrees not to claim that any such court is not a convenient or appropriate forum. 
 17. The invalidity of any one provision or part of this Agreement shall not render the entire Agreement invalid. 
 [Signature Page Follows] 

  
 D-4

 Effective as of
                    ,             . 

 

			
	ING GROEP N.V.
		
	By:	 	 
		
	By:	 	 

  

			
	ING U.S., INC.
		
	By:	 	 
		
	By:	 	 

  
 D-5

 ANNEX E 
 Form of Related Party Transaction Policy 
 ING U.S., INC. 

RELATED PARTY TRANSACTION APPROVAL POLICY 
 General 
 It is the policy of ING U.S., INC. (the “Company”) that
all Related Party Transactions (as defined below) will be subject to approval or ratification in accordance with the procedures set forth in this Related Party Transaction Approval Policy (this “Policy”). 

Definitions 

“Independent Committee” means a committee of the Board of Directors of the Company comprised of at least three Independent
Directors. If at the applicable time the Board of Directors of the Company has designated an Independent Director as its “Lead Director,” he or she shall be a member and the Chairperson of the Independent Committee. 

“Independent Directors” means directors who have been determined by the Board of Directors of the Company to be independent
directors for purposes of the New York Stock Exchange corporate governance standards. 
 “ING Group” means ING Groep
N.V. and its subsidiaries, except for the Company and the Company’s subsidiaries. 
 “Item 404” means
Item 404 of Regulation S-K promulgated by the SEC. 
 “Other Agreements” means the Equity Administration
Agreement, Registration Rights Agreement and Transitional Intellectual Property License Agreement, each dated as of [—], 2013, between the Company and ING Groep N.V. 

“Related Party Transaction” means (i) a transaction in which the Company or one or more of its subsidiaries is a
participant and which involves an amount exceeding $120,000, in which any director, officer, greater than 5% stockholder of the Company or any other “related person” (as defined in Item 404), has or will have a direct or indirect
material interest, (ii) any material amendment, modification, extension or termination of the Shareholder Agreement or any Other Agreement and (iii) any other transaction for which disclosure will be required pursuant to Item 404.

 “SEC” means the Securities and Exchange Commission. 

“Shareholder Agreement” means the Shareholder Agreement, dated as of [—],
2013, between the Company and ING Groep N.V. 

  
 E-1

 Procedures 
 An Independent Committee will review and approve or take such other action as it may deem appropriate with respect to (a) Related Party Transactions, (b) any material amendment, modification,
extension or termination of a Related Party Transaction (c) any amendment, modification, extension or termination of a transaction that thereby will become a Related Party Transaction and (d) the handling and resolution of any disputes
arising in connection with Related Party Transactions. 
 In determining whether to approve any Related Party Transaction, the
Independent Committee will consider, among others, the following factors: 
  

	 	•	 	 the terms of the Related Party Transaction; 

  

	 	•	 	 the related person’s interest in the Related Party Transaction; 

 

	 	•	 	 the purpose and timing of the Related Party Transaction; 

 

	 	•	 	 the nature of the involvement of the Company and its subsidiaries in the Related Party Transaction and whether the Company or its subsidiaries (as
applicable) have demonstrable business reasons to enter into the Related Party Transaction; 

  

	 	•	 	 whether the Related Party Transaction would impair the independence of a director; 

 

	 	•	 	 whether the proposed Related Party Transaction involves any potential reputational or other risk issues; and 

 

	 	•	 	 any other information the Independent Committee deems relevant. 

In the event that the Company becomes aware of a Related Party Transaction that was not approved under this Policy, such Related Party
Transaction will be reviewed in accordance with this Policy as promptly as reasonably practicable. An Independent Committee will consider all of the relevant facts and circumstances, evaluate all options available to the Company, including
ratification, amendment or termination of such Related Party Transaction and take such course of action as the Independent Committee deems appropriate under the circumstances. 
 An Independent Committee may, where it deems it to be appropriate, establish guidelines for certain types of Related Party Transactions or designate certain types of Related Party Transactions that will
be deemed pre-approved. In addition, to the extent any of the following is or would be a Related Party Transaction, it will be deemed pre-approved: 
  

	 	•	 	 If previously approved by the Compensation and Benefits Committee or the Nominating and Governance Committee of the Board of Directors, as applicable,
any transaction or decision that involves providing compensation or benefits to a director or executive officer of the Company or any of its subsidiaries in connection with such director’s or executive officer’s duties

  
 E-2

	 	 
with the Company or its subsidiaries, as applicable, or the hiring, promotion or retention of any such director or executive officer; 

 

	 	•	 	 Indemnification and advancement of expenses made pursuant to the Company’s Amendment and Restated Certificate of Incorporation or By-Laws or
pursuant to any indemnification agreement; or 

  

	 	•	 	 Any transaction where the related person’s interest or benefit arises solely from the ownership of the Company’s securities and all holders
of the Company’s securities receive the same benefit on a pro rata basis (e.g., dividends). 

 In addition, the approval requirement under this Policy will not apply to the implementation and administration of intercompany arrangements, including the Shareholder Agreement and Other Agreements.

 Unless requested by the Chairperson of an Independent Committee, any director on such Independent Committee who has an
interest in a Related Party Transaction being considered by the Independent Committee will not participate in the discussion and consideration of such Related Party Transaction. The Company’s directors who are also senior executives or
directors of ING Group, may participate in the negotiation, execution, amendment, modification, extension or termination of intercompany arrangements subject to this Policy (including the Shareholder Agreement and Other Agreements), as well as in
any resolution of disputes under intercompany arrangements, on behalf of either or both of the Company and ING Group, in each case under the direction of an Independent Committee or a comparable committee of the Board of Directors or similar
governing body of ING Group. 
 No approval or ratification of a Related Party Transaction pursuant to this Policy will be
deemed to supersede the requirements of the Company’s Code of Conduct and, to the extent applicable, each Related Party Transaction subject to this Policy shall also comply with the Company’s Code of Conduct. 

  
 E-3EX-10.2

 Exhibit 10.2 
 TRANSITIONAL INTELLECTUAL PROPERTY LICENSE AGREEMENT 
 This
TRANSITIONAL INTELLECTUAL PROPERTY LICENSE AGREEMENT (this “Agreement”), dated as of May 7, 2013 (the “Effective Date”), is made and entered into by and among ING Groep N.V., a naamloze vennootschap
formed under the laws of The Netherlands (“Group”), and ING U.S., Inc. (“ING U.S.”), a corporation incorporated under the laws of Delaware. 
 RECITALS 
 WHEREAS, ING U.S. and its Subsidiaries use and desire to
continue to use certain intellectual property rights of Group in connection with their respective businesses; 
 WHEREAS, Group
desires to grant a license under certain intellectual property rights under the terms and conditions as set forth in this Agreement to ING U.S. and its Subsidiaries for use by each of them in connection with their respective businesses. 

NOW THEREFORE, in consideration of the premises and covenants set forth herein, and for other good and valuable consideration, the
receipt and sufficiency of which are hereby acknowledged, each of the Parties hereby agrees as follows: 
 ARTICLE I

 DEFINITIONS 
 Section 1.1 Definitions. As used herein, including for purposes of the Preamble and the Recitals hereof, the following terms have the respective meanings set forth below: 

“AAA” has the meaning set forth in Section 6.2(b)(i). 

“Affiliates” means, with respect to a person, those other persons that, directly or indirectly, control, are controlled
by or are under common control with such person; for purposes of this definition, “control” (including, with correlative meanings, the terms “controlled by” or “under common control with”), as
applied to any person, means the possession, directly or indirectly, of the power to direct or cause the direction of the management and policies of such person, whether through ownership of voting securities or partnership or other ownership
interests, by contract or otherwise. For purposes of this Agreement, ING U.S. and its Subsidiaries will not be deemed to be Affiliates or Subsidiaries of Group, and Group and its Affiliates (other than ING U.S. and its Subsidiaries) will not be
deemed to be Affiliates or Subsidiaries of ING U.S. 
 “Agreement” has the meaning set forth in the Preamble to
this Agreement. 
 “Applicable Law” means any domestic or foreign statute, law (including the common law),
ordinance, rule, regulation, published regulatory policy or guideline, order, judgment, injunction, decree, award or writ of any court, tribunal or other regulatory authority, arbitrator, governmental authority, or other person having jurisdiction,
or any consent, exemption, approval 

  
 [Signature
Page to Transitional Intellectual Property License Agreement] 

 
or license of any governmental authority that applies in whole or in part to a Party and, with respect to ING U.S., includes the United States Securities Exchange Act of 1934, as amended, the
United States Securities Act of 1933, as amended, the Delaware General Corporation Law, the rules of the United States Securities and Exchange Commission, insurance company laws and all related regulations, guidelines and instructions and the rules
of the New York Stock Exchange and any other exchange or quotation system on which the securities of ING U.S. or Group are listed or traded from time to time. 
 “Business Day” means any day except a (i) Saturday, (ii) Sunday, (iii) any day on which the principal office of Group is not open for business, and (iv) any other day
on which commercial banks in New York or in The Netherlands are authorized or obligated by law or executive order to close. 

“Closing” means the closing of the initial public offering of ING U.S. 

“Closing Date” means the date of the Closing. 
 “Co-Existence Agreements” means the following agreements: (i) the Co-Existence Agreement, dated February 17, 2012, among Group, HoldCo, ING Direct Bancorp, a corporation
incorporated under the laws of Delaware, US Bank and Capital One Financial Corporation, a corporation incorporated under the laws of Delaware, as it may be amended from time to time (“Delta Co-Existence Agreement”), (ii) the
Agreement, dated November 1, 2004, among Group, on behalf of its current and future divisions, parents, subsidiaries, licensees, affiliates and related companies located throughout the world including the ING funds (listed on Exhibit 11 of the
Dreyfus Agreement) on the one hand, and the Dreyfus Corporation, Dreyfus Service Corporation and The Dreyfus Fund Incorporated, on behalf of their current and future divisions, parents, subsidiaries, licensees, affiliates, and related companies on
the other hand, and (iii) the Trademark Coexistence Agreement, dated December 29, 2011, by and between ING North America Insurance Corporation, ING Latin American Holdings, B.V., the entities listed on Schedule 1 to the Star Co-Existence
Agreement and Grupo de Inversiones Suramericana S.A. (the “Star Co-Existence Agreement”). 
 “Effective
Date” has the meaning set forth in the Preamble to this Agreement. 
 “Entering Party” has the meaning
set forth in Section 2.4(a). 
 “Existing Party” has the meaning set forth in Section 2.4(a).

 “External-Facing”, with respect to any materials, means those materials that are distributed to a person
other than ING U.S. or its Subsidiaries. 
 “Governmental Authority” means any domestic, foreign or
supranational court, tribunal, arbitral or administrative agency or commission or other governmental authority or instrumentality, or any industry self-regulatory authority. 
 “Group” has the meaning set forth in the Preamble to this Agreement. 

  
 2 

 “Group Trademarks” means: (i) the name “ING”, the “ING
Lion”, and the ING Lion logo, or (ii) any mark, domain name, word, name or logo related to or employing the word “ING”, the “ING Lion”, or the ING Lion logo or any derivation, variation, translation or adaptation
thereof, or (iii) any mark confusingly similar thereto or embodying any of the foregoing, whether alone or in combination with any other mark, and whether registered or unregistered. Group Trademarks include, among other Trademarks, the ING
Marks, Lion Marks, and ING PTO Trademarks. 
 “ING Abandoned Trademarks” means the trademarks set forth on
Schedule 2. 
 “ING Branding Guidelines” means the ING Corporate Branding Guidelines, version 2007,
attached hereto as Exhibit A. 
 “ING Fund” means any undertaking for collective investments of
any form (whether open or closed ended), trust, investment trust, investment management company, mutual fund or partnership that is sponsored or branded by ING U.S. or its Subsidiaries or sponsored or branded by such trust, investment trust,
investment management company, mutual fund or partnership.  
 “ING Marks” means the trademarks with the
registration numbers 2407797 and 1804417. 
 “ING U.S.” has the meaning set forth in the Preamble to this
Agreement. 
 “ING U.S. Domain Names” means the domain names containing the name “ING” and relating
to the businesses or activities of ING U.S. and its Subsidiaries. A non-exhaustive list is set forth on Schedule 3. 

“ING PTO Trademarks” means the Trademarks that are registered in the United States with the United States Patent and
Trademark Office that contain “ING” and are owned by Group. A non-exhaustive list is set forth on Schedule 1. 

“IPO Registration Statement” means the Registration Statement on Form S-1, as amended, relating to the initial public
offering of the common stock of ING U.S. 
 “Joinder Agreement” means a Joinder Agreement in the form attached
as Exhibit B. 
 “Lion Marks” means the depiction of the “ING Lion” and the ING corporate logo
containing the lion as described in the ING Branding Guidelines. 
 “Losses” means all losses, claims, damages,
liabilities, obligations (including settlements, judgments, fines and penalties), costs and expenses (including reasonable attorneys’ fees, court costs and other litigation expenses) but excluding any loss of goodwill, loss of business, loss of
revenue, loss of profits, diminution in value, lost opportunity costs, and any other indirect, incidental, special, expectation, consequential, exemplary or punitive damages (other than such damages actually paid to third parties in connection with
any action or other claim or demand brought by an unaffiliated third party). 
 “Materials” has the meaning set
forth in Section 2.3(a)(iii). 

  
 3 

 “Newco Marks” means the registered and unregistered Trademarks that ING
U.S. and its Subsidiaries use in the United States to replace the ING PTO Trademarks (other than the ING Marks) and use in the ordinary course of their businesses and activities in the United States. 

“Notice” has the meaning set forth in Section 8.1. 

“Party” means ING U.S. and Group, individually; and “Parties” means ING U.S. and Group, collectively.

 “Rebranded Trademarks” has the meaning set forth in Section 2.10(a). 

“Redirect Period” has the meaning set forth in Section 2.6(a). 

“Redirected Domain Names” means the domain names set forth on Schedule 4. 

“Registration Rights Agreement” means the registration rights agreement dated the date hereof between ING U.S. and Group

 “Rules” has the meaning set forth in Section 6.2(b)(i). 

“Shareholder Agreement” means the shareholder agreement to be entered into between ING U.S. and Group. 

“Subsidiary” of a Party shall mean any corporation, partnership, joint venture, limited liability company, association
or other entity of which such Party has the ownership, directly or indirectly, of more than fifty percent (50%) of the voting securities or similar ownership interests, including any securities or similar ownership interests which are voting
only upon the occurrence of a contingency where such contingency has occurred and is continuing. For purposes of this Agreement, any ING Fund shall be deemed to be a Subsidiary of ING U.S. 

“Territory” means, with respect to each business of ING U.S. and its Subsidiaries, the countries in which such business
provides products or services prior to the Closing Date (“covered countries”); provided, however, that the Territory may be expanded on a country-by-country basis for each business with the prior written consent of
Group, which consent shall not be unreasonably withheld, conditioned or delayed; provided, further, that with respect to communications with customers and retirement plan participants relating to business activities conducted in one of
the covered countries (including, without limitation, communications with individual participants in U.S. retirement plans serviced by the ING U.S. Retirement business), such communications shall be permitted with such customer or participant as if
the communication were made within the Territory even if such customer or participant is located outside of the Territory. For the avoidance of doubt, for purposes of this definition, the countries in which the ING U.S. Investment Management
business provides products or services prior to the Closing Date will be deemed to include countries where funds or other investment vehicles advised or sub-advised by such business are marketed prior to the Closing Date. 

“Third Party Acquirer” has the meaning set forth in Section 2.5(b). 

  
 4 

 “Trademarks” means trademarks, service marks, trade names, trade dress,
logos, corporate names and other source or business identifiers and any registrations, applications, renewals and extensions of any of the foregoing and all goodwill associated with or symbolized by any of the foregoing. 

“Transition Period” means the period starting as of the Effective Date and ending thirty (30) months after
the Closing Date. 
 “United States” means the United States of America, including its territories and
possessions. 
 “Visual Identity” means the visible elements of a brand of a Party and its Affiliates,
including its or their respective name, logo, primary and secondary colors, form, and other visual elements that symbolize source, identity and image. 
 “Your Number Campaign Marks” means the “Your Number” Trademarks and the advertising campaign and promotional activities and materials (including on Internet websites) relating
to the “Your Number Campaign”, in each case, as listed or otherwise described on Schedule 5. 
 ARTICLE II

 LICENSES AND OTHER RIGHTS OF ING U.S. 

Section 2.1 Acknowledgements as to Your Number Campaign Marks. As between the Parties, each Party and its respective
Subsidiaries shall retain all of its and their respective common law and other rights that it or they may have as of the Effective Date in or to the Your Number Campaign Marks. Group and its Affiliates will not (a) use the Your Number Campaign
Marks in the United States or Canada, or (b) limit or prevent ING U.S. and its Subsidiaries from continuing to use the Your Number Campaign Marks in the United States or Canada. For clarity, neither Party shall have any right or obligation
under this Agreement with respect to the Your Number Campaign Marks outside of the United States and Canada. Both Parties acknowledge and agree that any use of any Your Number Campaign Mark is on an “as is” basis and neither Party makes
any representation or warranty, express or implied, as to the right of the other Party to use or otherwise enjoy the benefits of any Your Number Campaign Mark in any manner including any freedom from claims of any third parties with respect to such
use. Notwithstanding the foregoing, this Section 2.1 remains subject to Section 2.4. 
 Section 2.2 Delta
Joinder Agreement. Simultaneously with execution of this Agreement, the Parties shall execute the Joinder Agreement. 

Section 2.3 Group Trademarks. 
 (a) Grant of Licenses. Subject to the terms and conditions of this Agreement, Group hereby grants to ING U.S. and its Subsidiaries a limited, non-exclusive, fully paid-up, royalty-free,
non-transferable, non-sublicensable (except as described in Section 2.5) license solely in the Territory and during the Transition Period: 
 (i) to use the Group Trademarks in their corporate and trade names, businesses and activities, including any advertising or promotional materials; 

  
 5 

 (ii) to use the Group Trademarks in connection with the initial public offering of ING U.S.
or its results or effects, including any advertising or promotional materials, provided that ING U.S. shares the key taglines and elements of these materials (including but not limited to “Inspired by ING”) with Group; 

(iii) to use the Group Trademarks in labeling, stationery, business cards, business forms, supplies, advertising and promotional materials
and packaging (the “Materials”); 
 (iv) to continue using the Group Trademarks in substantially the same or
similar manner that ING U.S. and its Subsidiaries used the Group Trademarks prior to Closing, without any alteration or modification thereof except as expressly provided herein; 

(v) to use the Group Trademarks in the Territory in the fields of insurance, retirement or investment management (and excluding, for
clarity, the field of banking, except with respect to the activities of ING National Trust and ING Investment Trust Co. as conducted prior to Closing), and in any ancillary and related activities as conducted by ING U.S. and its Subsidiaries prior
to the Closing; and 
 (vi) to sublicense the rights under Section 2.3(a) (other than use in corporate or trade names) in
and to the Group Trademarks to third parties as described in Section 2.5. 
 (b) Certain Obligations of ING U.S. and its
Subsidiaries. Notwithstanding anything to the contrary in this Section 2.3, ING U.S. and its Subsidiaries agree to: 

(i) use the Group Trademarks only in accordance with the ING Branding Guidelines; 

(ii) use the Group Trademarks in substantially the same or similar manner that ING U.S and its Subsidiaries used the Group Trademarks
prior to Closing; 
 (iii) use the Materials in a manner that is consistent with their use by ING U.S. and its Affiliates before
Closing except as expressly provided herein; 
 (iv) ensure that the Group Trademarks as they are displayed on the Materials are
not altered in any way, except as expressly provided herein; 
 (v) ensure that they will not take any action that could
reasonably be expected to impair the value of or goodwill associated with the Group Trademarks; 
 (vi) use commercially
reasonable efforts to transition to the new brand with prioritization of External-Facing promotion and communication materials, and to cease use of the Group Trademarks as soon as commercially reasonably practicable; 

(vii) cease all use of the Group Trademarks upon expiration of such Transition Period; 

  
 6 

 (viii) destroy any physical Materials remaining in ING U.S.’s possession promptly
following expiration of the Transition Period, and an authorized officer of the ING U.S. shall certify to Group in writing that to the knowledge of the certifying officer, after reasonable inquiry, such destruction has taken place; and 

(ix) make clear to all other applicable parties that ING U.S. or its Subsidiaries, rather than Group or any of its other Subsidiaries, is
the party entering into or conducting the contractual relationship. 
 (c) Certain Obligations of Group and its
Subsidiaries. Notwithstanding anything to the contrary in this Section 2.3, Group and its Subsidiaries agree to cooperate with ING U.S. and its Subsidiaries, at their expense, to take reasonable steps to seek to eliminate or minimize any
actual consumer confusion arising from Group activity in the fields of insurance, retirement or investment management in the United States during the Transition Period. 
 (d) Inspection. Provided that ING U.S. and its Subsidiaries are using the Group Trademarks, during the Transition Period, Group shall have the right during normal business hours, upon reasonable
notice to ING U.S. and its applicable Subsidiaries and in a manner not unreasonably disruptive to ING U.S. and its Subsidiaries’ properties or business operations, to inspect for compliance with Section 2.3 through Section 2.8 and any
and all uses of the Group Trademarks by ING U.S. and its Subsidiaries, including inspection of any and all materials on which the Group Trademarks are displayed in the possession or control of ING U.S. and its Subsidiaries. Any noncompliance with
Section 2.3 through Section 2.8 shall be corrected by ING U.S. and/or its respective Subsidiary as soon as reasonably practical, but no later than thirty (30) Business Days of receipt by ING U.S. of written notice from Group.

 (e) Disclaimer. As soon as reasonably practical, but no later than thirty (30) days following the Effective Date,
ING U.S. and its Subsidiaries shall post on the landing page and any other page that consistently receives deep link or landing traffic on which the Group Trademarks are displayed, the following statement: “ING U.S, Inc. is a publicly traded
corporation, and it and its subsidiaries are currently using trademarks including the “ING” name, ING Lion and associated trademarks of ING Groep N.V. under license.” 

(f) Change of Name. 
 (i) Timely during the Transition Period, ING U.S. and its Subsidiaries shall file before the relevant Governmental Authority the necessary documents so as to amend or terminate any registration or
certificate of assumed name, fictitious name or d/b/a filings containing the name “ING” so as to cause such assumed name, fictitious name or d/b/a filings to be changed to eliminate the name “ING” therefrom. 

(ii) ING U.S. and its Subsidiaries agree that after the Closing Date neither ING U.S. nor any of its Subsidiaries will expressly, or
willingly by implication, do business as or represent themselves as Group or any of the Group’s other Affiliates, and the personnel of ING U.S. or its Subsidiaries shall not, and shall have no authority to, as of the Closing Date, hold
themselves out as officers, employees or agents of Group. 
 (iii) ING U.S. shall not and shall cause its Subsidiaries not to
purport to, or represent that it may, bind or do business as Group or any of its Affiliates. 

  
 7 

 Section 2.4 Visual Identity; No Reasonable Likelihood of Confusion.

 (a) If either Party or any of its Subsidiaries either conducts new activities or enters into a market or jurisdiction (the
“Entering Party”) where the other Party or any of its Subsidiaries is already commercially active (the “Existing Party”), the Entering Party agrees (i) to evaluate the likelihood of customer confusion or brand
dilution posed by such proposed Trademarks, Visual Identity in such market or jurisdiction and (ii) to take all necessary steps to distinguish itself and its branding from the Existing Party and to ensure that it is not confusingly similar with
branding of the Existing Party in the view of the Existing Party’s customers. 
 (b) Each Party acknowledges and agrees
that the existing activities of the businesses of ING U.S. and Group or its Subsidiaries do not create any consumer confusion and each Party can continue to operate their respective businesses as such businesses were operated prior to Closing,
provided that, each Party implements appropriate source or business identifiers and/or disclaimers on its products, advertisements or other materials to make clear to a third party which Party is providing a particular product or service.

 (c) The Parties acknowledge and agree that ING U.S.’s Visual Identity as shared in writing with Mariken Tannemaat
(Group), Chris Kersbergen (ING Verzekeringen) and Ann Glover (ING U.S.) on or about November 1, 2012 and Nanne Bos on February 14, 2013 is not confusingly similar to Group’s Visual Identity. 

(d) Notwithstanding the above, nothing in this Section 2.4 shall limit the right of Group or its Subsidiaries (other than ING U.S.
and its Subsidiaries) to use the color orange, the name “ING”, the “ING Lion” logo, or other elements of its worldwide corporate Visual Identity in any jurisdiction, at any time. 

Section 2.5 Exceptions. 
 (a) During the Transition Period, ING U.S. may continue to sublicense the Group Trademarks to its agents (including registered representatives, third party administrators, reinsurers and outsourcing
firms), in the ordinary course of business or for the sponsorship of events in the Territory (e.g., the New York City Marathon), solely for the benefit of ING U.S. to conduct its business, consistent with past practice. 

(b) Notwithstanding anything to the contrary in this Agreement, ING U.S. may not sublicense the Group Trademarks in connection with the
sale or transfer (including by means of merger) of an ING U.S. Subsidiary or sale or transfer of the assets of ING U.S. or a Subsidiary, including a unit, division or business, in whole or in part, that uses such licenses in its respective business
(each an “ING U.S. Sale”). Group acknowledges and agrees that if ING U.S. or one of its Subsidiaries requests that Group license the Group Trademarks to a third party in connection with an ING U.S. Sale (“Third Party
Acquirer”), Group shall enter into a license agreement with Third Party Acquirer so long as such Third Party Acquirer agrees to enter into a transitional trademark license agreement directly with Group that includes all of the material
terms and conditions in Group’s “standard form” transitional trademark licenses, provided, 

  
 8 

 
however, that Group shall not be obligated to enter into any such license agreement if Group reasonably expects that the license will have a material adverse effect on the ING brand or
reputation. 
 (c) For each sublicense granted by ING U.S., ING U.S. shall: (i) provide reasonable provisions for the use,
protection and maintenance of the Group Trademarks in a manner that is consistent with this Agreement, (ii) prohibit any further sublicenses of the Group Trademarks, and ING U.S. shall use commercially reasonable efforts to enforce such
agreements, (iii) ensure that such sublicensee only uses the Group Trademarks for the benefit of ING U.S. to conduct its business in a manner consistent with this Agreement, and (iv) remain liable to Group for the acts or omissions of any
sublicensee that would, if such sublicensee was a Party hereto, constitute a breach of this Agreement. 
 (d) One or more
licenses or sublicenses granted pursuant to Section 2.3 or this Section 2.5 may be terminated by Group, upon written notice to ING U.S., for material violation of the restrictions set forth in Section 2.3, Section 2.4 or this
Section 2.5, which is not cured within thirty (30) Business Days of receipt by ING U.S. of written notice from Group. 

Section 2.6 Domain Names. 
 (a) Subject to the obligations of Section 2.3, during the Transition Period, ING U.S. and its Subsidiaries shall have continued and exclusive right to use the ING U.S. Domain Names, and shall be
granted all of the administrative rights and other rights necessary for ING U.S. and its Subsidiaries to manage and direct the use of, and content on the websites associated with, the ING U.S. Domain Names. For a period of twelve (12) months
after the end of the Transition Period (the “Redirect Period”), Group or one of its Subsidiaries shall cause the Redirected Domain Names to be redirected to a URL designated by ING U.S. Upon the expiration of the Redirect Period,
Group shall, for a period of twelve (12) months thereafter, cause the Redirected Domain Names to be directed to a webpage in a form reasonably acceptable to ING U.S. and Group that will be developed and maintained by Group and that will allow
Internet end users arriving at the webpage to click a link to be transferred to a URL designated by ING U.S. for the operation of its business, or to click another link to be transferred to a URL designated by Group for the operation of the
businesses of Group and its Affiliates. 
 (b) ING U.S. and its Subsidiaries will transfer the ING U.S. Domain Name
registrations to Group or its Subsidiaries promptly after the end of the Transition Period. Group or its Subsidiaries shall maintain the registrations of the ING U.S. Domain Names for a period of twelve (12) months after the end of the Redirect
Period in accordance with the terms of the applicable Internet domain name registrar. 
 Section 2.7 Social
Media. The Parties will work in good faith and cooperate with each other and the social media vendors to replace the social media fan sites using any Group Trademarks with Newco Marks while using commercially reasonable efforts to seek to
retain, to the extent reasonably practicable without either Party comprising its respective brand or Visual Identity, the applicable fans and historical content. 

  
 9 

 Section 2.8 Limitations on ING U.S.’s Use of Lion. During the
Transition Period, and only in the United States and Canada, ING U.S. shall not and shall ensure that its Subsidiaries shall not and its respective successors and assigns shall not adopt, use, display or attempt to register, any mark containing
(a) a lion image, (b) a Lion Mark, or (c) the term “lion” or any terms associated with “lion”, lion sounds or a jungle-related theme in connection with its goods and services; provided, however, that the
foregoing shall not limit or prevent uses of Group Trademarks, prior to or during the Transition Period, expressly granted in Section 2.3. 
 Section 2.9 Request to Extend Transition Period. ING U.S. may on one or more occasions request an extension of the period during which ING U.S. and its Subsidiaries are granted the
license described in Section 2.3(a) herein, with respect to any jurisdiction included in the Territory, and, as long as ING U.S. and its Subsidiaries (a) have made commercially reasonable efforts to transition to a new brand, (b) have
not materially breached their obligations under Section 2.3(b)(vi), and (c) have not materially breached any other provision of this Agreement, Group shall grant any such request that is reasonable in light of such efforts and considering
the extent to which resources have been made available for such efforts by the board of directors of ING U.S. during any period when a majority of the board of directors of ING U.S. consists of individuals designated by Group in accordance with the
Shareholder Agreement. 
 Section 2.10 Newco Marks and Rebranded Marks. 

(a) ING U.S. and its Subsidiaries shall have the right to register new Trademarks in the United States that effectively rebrand the ING
PTO Trademarks (other than the ING Marks) as Newco Marks (the “Rebranded Trademarks”), provided that, such Rebranded Trademarks do not contain “ING”, the “ING Lion”, or the ING Lion logo or any derivation,
variation, translation or adaptation thereof or any words or elements that are confusingly similar thereto. 
 (b) Group shall
cause the ING Abandoned Trademarks to be cancelled on a mark-by-mark basis, promptly after (i) such ING Abandoned Trademark is rebranded as a Newco Mark and (ii) ING U.S. requests in writing that Group cancel such ING Abandoned Trademark.

 (c) Following the cancellation of an ING Abandoned Trademark, Group shall, and shall cause its Affiliates to, cease use of
such ING Abandoned Trademark; provided, however, that Group reserves the right to use descriptive or generic elements of the ING Abandoned Trademarks that it would otherwise be entitled to use under applicable trademark law. 

(d) Group shall not, and shall cause its Affiliates not to, contest, oppose, cancel, seek to invalidate or otherwise object to ING
U.S.’s use or registration of any Rebranded Trademarks in the United States, provided that, such Newco Marks do not contain “ING”, the “ING Lion”, or the ING Lion logo or any derivation, variation, translation or adaptation
thereof. 

  
 10 

 ARTICLE III 
 OWNERSHIP OF THE TRADEMARKS 
 Section 3.1 ING U.S. And
Its Affiliates Not To Jeopardize Registration. ING U.S. and its Affiliates undertake not to do or permit to be done any act which would or might jeopardize or invalidate any registration of the Group Trademarks, nor do any act which might
assist or give rise to an application to remove the Group Trademarks from the register of Trademarks, or which might prejudice the right or title of Group to the Group Trademarks. 

Section 3.2 No Ownership Of Group Trademarks By ING U.S. Or Its Affiliates. ING U.S. and its Affiliates will not make
any representation or do any act which may be taken to indicate that it has any right, title or interest in or to the ownership or use of the Group Trademarks except under the terms of this Agreement, and acknowledges that nothing contained in this
Agreement shall give ING U.S. and its Affiliates any right, title or interest in or to the Group Trademarks save as granted by this Agreement. 
 Section 3.3 Acknowledgement as to Group Trademarks; Cooperation. ING U.S. and its Subsidiaries agree that they will not dispute the validity of the Group Trademarks or the ownership
rights of Group or its Subsidiaries thereto. Group and its Affiliates agree that they will not dispute the validity of the Rebranded Marks or the ownership rights of ING U.S. or its Subsidiaries thereto. Except as expressly permitted by this
Agreement, ING U.S. and its Subsidiaries shall not register or apply for the registration of any Group Trademarks. ING U.S. and its Subsidiaries shall, at Group’s request and expense, cooperate with Group in opposing or otherwise contesting any
use of the Group Trademarks by any third party other than ING U.S. or its Subsidiaries. Group and its Subsidiaries shall, at ING U.S.’s request and expense, reasonably cooperate with ING U.S. and its Subsidiaries to respond to any office
action(s), to support the use and registration of the Newco Marks and to assist with any filings for the prosecution of the Newco Marks with the United States Patent and Trademark Office. 

ARTICLE IV 

INFRINGEMENT OF GROUP TRADEMARKS 
 Section 4.1 Notification of Infringement. 
 (a) Group shall, as
soon as it becomes aware thereof, notify ING U.S. in writing (giving full particulars thereof) of any use or proposed use by any other unrelated person, firm or company of a trade name, trade mark, domain name or mode of promotion or advertising
that amounts or might amount either to infringement of ING U.S.’s rights in relation to the Newco Marks to passing-off, any other misleading or deceptive conduct in trade or commerce in relation to the Newco Marks, or any other torts involving
the Newco Marks. 
 (b) ING U.S. shall, as soon as it becomes aware thereof, notify Group in writing (giving full particulars
thereof) of any use or proposed use by any other unrelated person, 

  
 11 

 
firm or company of a trade name, trade mark, domain name or mode of promotion or advertising that amounts or might amount either to infringement of Group’s rights in relation to the Group
Trademarks to passing-off, any other misleading or deceptive conduct in trade or commerce in relation to the Group Trademarks, or any other torts involving the Group Trademarks. 

Section 4.2 Notification of Allegations. 
 (a) If Group becomes aware that any other person, firm or company alleges that the Newco Marks are invalid or that use of the Group Trademarks in the United States infringes any rights of another party or
that the Newco Marks are otherwise attacked or attackable, Group shall immediately notify ING U.S. in writing thereof and shall make no comment or admission to any third party in respect thereof. 

(b) If ING U.S. becomes aware that any other person, firm or company alleges that the Group Trademarks are invalid or that use of the
Group Trademarks infringes any rights of another party or that the Group Trademarks are otherwise attacked or attackable ING U.S. shall immediately notify the Group in writing thereof and shall make no comment or admission to any third party in
respect thereof. 
 Section 4.3 Conduct of Proceedings by Group. Group shall have the conduct or control of
all proceedings relating to the Group Trademarks and shall confer with ING U.S. and its Subsidiaries to decide what action if any to take in respect of any unrelated third party infringement or alleged infringement of the Group Trademarks or
passing-off or any other claim or counterclaim brought or threatened in respect of the use or registration of the Group Trademarks. Any action will be at the expense of Group. 
 Section 4.4 Assistance in Proceedings. Each Party will, at the request of the other Party, give reasonable cooperation to such Party in any action, claim or proceedings brought or
threatened against any third party in respect of the matters set forth in this Article IV. 
 ARTICLE V 

WARRANTIES; INDEMNITIES; DISCLAIMERS 
 Section 5.1 Representations and Warranties. Each of the Parties represents and warrants to the others that it has the requisite power and authority to enter into and perform its
obligations under this Agreement. Each of the Parties represents and warrants to the others that no consent, approval, authorization or other order of, or registration or filing with, any Governmental Authority, is required for such Party’s
execution, delivery and performance of this Agreement or consummation of the transactions contemplated hereby, except as have been set forth in this Agreement or have been obtained or made by any Party and are in full force and effect under all
Applicable Laws. 
 (a) THE REPRESENTATIONS AND WARRANTIES IN SECTION 5.1 ARE THE ONLY REPRESENTATIONS AND WARRANTIES GIVEN
BY THE PARTIES IN CONNECTION WITH THIS AGREEMENT AND THE SUBJECT MATTER HEREOF, AND ALL INTELLECTUAL PROPERTY LICENSED, ASSIGNED OR OTHERWISE CONVEYED UNDER THIS AGREEMENT IS PROVIDED “AS IS” AND IS LICENSED,

  
 12 

 
ASSIGNED OR OTHERWISE CONVEYED WITHOUT ANY REPRESENTATIONS OR WARRANTIES OF ANY KIND WHATSOEVER IN THIS AGREEMENT, WHETHER EXPRESS, IMPLIED OR STATUTORY, INCLUDING WITHOUT LIMITATION ANY IMPLIED
WARRANTIES OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, TITLE OR NON-INFRINGEMENT, AND EACH PARTY HEREBY DISCLAIMS ALL EXPRESS AND IMPLIED REPRESENTATIONS AND WARRANTIES EXCEPT AS OTHERWISE EXPRESSLY PROVIDED HEREIN. 

(b) NO PARTY OR ANY OF ITS AFFILIATES OR SUBSIDIARIES MAKES ANY WARRANTY OR REPRESENTATION UNDER THIS AGREEMENT THAT ANY EXPLOITATION OF
ANY PRODUCT OR SERVICE WILL BE FREE FROM INFRINGEMENT OF ANY INTELLECTUAL PROPERTY RIGHT OF ANY THIRD PARTY. 

Section 5.2 Indemnification. 
 (a) ING U.S. agrees to defend, indemnify and keep indemnified and hold Group and any of its Affiliates and their respective directors, officers, employees, shareholders, agents, attorneys,
representatives, successors and assigns, harmless from and against any and all Losses (without limitation or cap of any kind) suffered or incurred by Group or any of its Affiliates in connection with any action or claim by any third party made
relating to or arising out of or in connection (i) any actual or alleged breach of any term or condition of the Joinder Agreement based on any act or omission of ING U.S. or its Affiliates after the Closing, (ii) any claim or liability
incurred by Group or its Affiliates arising under the Co-Existence Agreements based on any act or omission of ING U.S. or its Affiliates after the Closing; (iii) any action or claim by any third party against Group or its Affiliates relating to
or arising out of or in connection with any breach of this Agreement by ING U.S. and/or its Affiliates; or (iv) any action or claim by any third party against Group or its Affiliates on the basis that ING U.S. and/or its Affiliates have acted
on behalf of Group or its Affiliates or have the authority to bind Group or its Affiliates. 
 (b) Group agrees to defend,
indemnify and keep indemnified and hold ING U.S. and any of its Affiliates and their respective directors, officers, employees, shareholders, agents, attorneys, representatives, successors and assigns, harmless from and against any and all Losses
(without limitation or cap of any kind) suffered or incurred by ING U.S. or any of its Affiliates in connection with (i) any claim by a counter-party to a Co-Existence Agreement against ING U.S. or its Subsidiaries arising from any act or
omission of Group or its Affiliates after the Closing or (ii) any action or claim by any third party against ING U.S. or its Affiliates relating to or arising out of or in connection with any breach of this Agreement by Group and/or its
Affiliates. 
 (c) Except for the obligations under Section 2.3, Section 2.4, Section 2.5, Section 2.8,
Article III, Section 5.2(a) and (b) and Section 8.4, neither Party shall be liable to the other Party, whether based on an action or claim in contract, equity, negligence, tort or otherwise, for any damages that are indirect,
incidental, special, expectation, consequential, exemplary or punitive damages, (including any loss of goodwill, loss of business, loss of revenue, loss of profits, diminution in value, or lost opportunity costs) arising out of or relating to a
breach of this Agreement. 

  
 13 

 Section 5.3 Reservation of Rights. Except for those rights expressly
licensed pursuant to this Agreement, no rights or licenses in or to any intellectual property right owned or licensed by either Party or any of its respective Affiliates or Subsidiaries are assigned, granted or otherwise conveyed to the other Party,
and nothing contained herein shall be construed as conferring to the other Party or its Affiliates or Subsidiaries by implication, estoppel or otherwise any right, title or interest of any of such Parties or its Affiliates or Subsidiaries in or to
any such intellectual property right. 
 Section 5.4 No Obligation To Provide Technology. Except as otherwise
expressly set forth in this Agreement, no Party, or any of its Affiliates or Subsidiaries, is obligated by this Agreement to provide any other Party with any technical assistance or to furnish any other Party with, or obtain, any documents,
materials, instructions, corrections, updates or other information or technology. 
 Section 5.5 Release of
Information. ING U.S. must inform Group, in a timely and adequate manner, of any public information that it or its Subsidiaries wish to publish that may have a material adverse effect on the goodwill associated with the Group Trademarks or
the reputation or public image of Group, so that Group may, should Group consider it necessary, issue a press release, whereby it is clear that the decision on materiality lies with Group. If possible, Group should be informed at least one week in
advance of the disclosure of any development or information that may have a material adverse effect on the goodwill associated with the Group Trademarks or the reputation or public image of Group. In case of a development or any information that may
require immediate disclosure, ING U.S. shall promptly inform Group, and where legally permissible, before any such disclosure is made. 
 ARTICLE VI 
 DISPUTE RESOLUTION 

Section 6.1 Management Intervention. Upon one Party’s written request to the other regarding a potential material
dispute under this Agreement, senior executives of both Parties or their designees shall promptly meet (telephonically or in person) to attempt to resolve such dispute. 
 Section 6.2 Arbitration. 
 (a) The Parties agree to act with
the utmost good faith. 
 (b) Any dispute regarding this Agreement that was not able to be resolved under Section 6.1,
promptly, but in any case within thirty (30) days after either Party’s initial request, shall be submitted to arbitration and arbitrated and finally resolved according to the following rules of arbitration: 

(i) The arbitration shall be administered by the American Arbitration Association (the “AAA”) under its Commercial
Arbitration Rules then in effect (the “Rules”) except as modified herein. 

  
 14 

 (ii) The arbitration shall be held in New York, New York. 

(iii) The arbitrators shall base their decision on the terms of this Agreement and apply the law, customs, and practices applicable to
intellectual property law. The Party that initiates arbitration has the burden of proof of proving its case by a preponderance of the evidence. 
 (iv) There shall be three arbitrators each of whom shall be (i) a lawyer admitted to practice and in good standing with at least 10 years legal experience in intellectual property law;
(ii) independent of the Parties and (iii) disinterested in the outcome of the dispute. Each party shall appoint one arbitrator within 30 Business Days of respondent’s receipt of claimant’s demand for arbitration. The two
party-appointed arbitrators shall select a third arbitrator to serve as Chair of the tribunal within 30 Business Days of the selection of the second arbitrator. If any arbitrator has not been appointed within the time limits specified herein, such
appointment shall be made by the AAA in accordance with the Rules upon the written request of either party within 15 Business Days of such request. The hearing shall be held no later than 120 Business Days following the appointment of the third
arbitrator. 
 (v) The arbitral tribunal shall permit prehearing discovery that is relevant to the subject matter of the dispute
taking into account the parties’ desire that the arbitration be conducted expeditiously and cost effectively. All discovery shall be completed within 60 days or within the period of time determined by the tribunal. 

(vi) The tribunal shall have full authority to grant provisional remedies, to direct the parties to request that any court modify or
vacate any temporary or preliminary relief issued by such court, and to award damages for the failure of any party to respect the arbitral tribunal’s orders to that effect. For the purpose of any provisional relief contemplated hereunder, the
parties hereby submit to the exclusive jurisdiction of the New York Courts. Each party unconditionally and irrevocably waives any objections which they may have now or in the future to the jurisdiction of the New York Courts including objections by
reason of lack of personal jurisdiction, improper venue, or inconvenient forum. 
 (vii) The award shall be in writing, shall
state the findings of fact and conclusions of law on which it is based, shall be final and binding and shall be the sole and exclusive remedy between the parties regarding any claims, counterclaims, issues, or accounting presented to the arbitral
tribunal. The arbitration shall be governed by the United States Arbitration Act, 9 U.S.C. § 1 et seq., and judgment upon any award may be entered in any court having jurisdiction. 

(viii) The parties will bear equally all fees, costs, disbursements and other expenses of the arbitration, and each party shall be solely
responsible for all fees, costs, disbursements 

  
 15 

 
and other expenses incurred in the preparation and prosecution of their own case; provided that in the event that a party fails to comply with the orders or decision of the arbitral tribunal,
then such noncomplying party shall be liable for all costs and expenses (including attorney fees) incurred by the other party in its effort to obtain either an order to compel, or an enforcement of an award, from a court of competent jurisdiction.

 (ix) The arbitral tribunal shall have the authority, for good cause shown, to extend any of the time periods in this
arbitration provision either on its own authority or upon the request of any of the parties. The arbitral tribunal shall be authorized in its discretion to grant pre-award and post-award interest at commercial rates. The arbitral tribunal shall have
no authority to award punitive, exemplary or multiple damages or any other damages not measured by the prevailing parties’ actual damages. The arbitral tribunal shall have the authority to order specific performance or to issue any other type
of temporary or permanent injunction. 
 (x) All notices by one party to the other in connection with the arbitration shall be in
accordance with the provisions of Section 8.1 hereof, except that all notices for a demand for arbitration made pursuant to this Article VI must be made by personal delivery or receipted overnight courier. This agreement to arbitrate shall be
binding upon the successors and permitted assigns of each party. This Agreement and the rights and obligations of the parties shall remain in full force and effect pending the award in any arbitration proceeding hereunder. 

Section 6.3 Confidentiality. Except to the extent necessary to compel arbitration or in connection with arbitration of
any dispute under this Agreement, or for enforcement of an arbitral award, information concerning (i) the existence of an arbitration pursuant to this Article VI, (ii) any documentary or other evidence given by a party or a witness in the
arbitration or (iii) the arbitration award may not be disclosed by the tribunal administrator, the arbitrators, any party or its counsel to any person or entity not connected with the proceeding unless required by law or by a court or competent
regulatory body, and then only to the extent of disclosing what is legally required. A party filing any document arising out of or relating to any arbitration in court shall seek from the court confidential treatment for such document. 

Section 6.4 Conduct During Dispute Resolution. The Parties shall continue the performance of their respective
obligations under this Agreement that are not the subject of dispute during the resolution of any dispute or disagreement, including during any period of arbitration, unless and until this Agreement is terminated or expires in accordance with its
terms and conditions. 
 ARTICLE VII 
 TERM 
 Section 7.1 Term. This Agreement shall
commence on the Effective Date and terminate automatically, along with all licenses and sublicenses granted hereunder, on the first day following the end of the Transition Period. 

  
 16 

 Section 7.2 Survival. Section 1.1, Section 2.1,
Section 2.3(b)(vii), Section 2.3(b)(viii), Section 2.6, Section 2.10, Article III, Section 5.1, Section 5.2, Section 5.3, Article VI, Article VII and Article VIII shall survive the expiration or termination of this
Agreement for any reason. 
 ARTICLE VIII 
 MISCELLANEOUS 
 Section 8.1 Notices. All notices
or other communications hereunder to a Party shall be deemed to have been duly given and made if in writing and (a) if served by personal delivery, on the day of such delivery, (b) if delivered by registered or certified mail (return
receipt requested), or by a national courier service, on the day of delivery, or (c) if sent by facsimile or email, upon transmission of such facsimile or email (provided that the facsimile or email is given during the normal business
hours of the recipient; otherwise on the Business Day during which such normal business hours next occur), to the person at the address set forth below, or such other address as may be designated in writing hereafter, in the same manner, by such
person (each such notice, a “Notice”): 
 If to ING U.S., to: 

 

			
	ING U.S., Inc.
	 230 Park Avenue

New York, New York 10169
 Attention: Executive
Vice President and Chief Legal Officer

		
	Telephone:	  	212-309-6581
	Facsimile:	  	212-309-8364
	Email:	  	bridget.healy@us.ing.com

 With a copy to: 
  

			
	ING North America Insurance Corporation
	 230 Park Avenue

New York, New York 10169

	Attention:	  	Executive Vice President and Chief Legal Officer
	Telephone:	  	212-309-6581
	Facsimile:	  	212-309-8364
	Email:	  	bridget.healy@us.ing.com

 If to Group, to: 
  

			
	ING Groep N.V.
	P.O. Box 1800
	1000 BV Amsterdam
	The Netherlands
	(Visiting address: Bijlmerplein 888, Amsterdam)
	The Netherlands
	Attention:	  	General Counsel Corporate Legal
	Telephone:	  	+31 (0) 20 576 40 65
	Facsimile:	  	+31 (0) 20 576 09 50

  
 17 

 With a copy to: 

 

			
	 Sullivan & Cromwell LLP
 125 Broad Street
 New York, New York 10004

	Attention:	  	 Nader A. Mousavi
 Robert G.
DeLaMater

	Telephone:	  	(212) 558-4000
	Facsimile:	  	(212) 558-3588
	Email:	  	mousavin@sullcrom.com
		  	delamaterr@sullcrom.com

 Section 8.2 Entire Understanding; Third-Party Beneficiaries. This Agreement (including
the Schedules hereto) represents the entire understanding of the Parties hereto with respect to the subject matter hereof and thereof and supersede any and all other oral or written agreements heretofore made with respect to such subject matter.
Other than as expressly set forth in this Agreement, nothing in this Agreement, express or implied, is intended to confer upon any person, other than the Parties and their respective successors and permitted assigns, any rights or remedies under or
by reason of this Agreement. Only the Parties that are signatories to this Agreement (and their permitted successors and assigns) shall have any obligation or liability under, in connection with, arising out of, resulting from or in any way related
to this Agreement or any other matter contemplated hereby, or the process leading up to the execution and delivery of this Agreement and the transactions contemplated hereby, subject to the provisions of this Agreement. 

Section 8.3 Subsidiary Action. Wherever a Party to this Agreement has an obligation under this Agreement to
“cause” an Affiliate or Subsidiary of such Party or any such Affiliate’s or Subsidiary’s officers, directors, management or employees to take, or refrain from taking, any action, or such action may be necessary to accomplish the
purposes of this Agreement, such obligation of such Party shall be deemed to include an undertaking on the part of such Party to cause such Affiliate or Subsidiary to take such necessary action. Wherever this Agreement provides that an Affiliate or
Subsidiary of a Party has an obligation to act or refrain from taking any action, such Party shall be deemed to have an obligation under this Agreement to cause such Affiliate or Subsidiary or any such Affiliate’s or Subsidiary’s officers,
directors, management or employees to take, or refrain from taking, any action, or such action as may be necessary to accomplish the purposes of this Agreement. 
 Section 8.4 Confidential Information. All information provided by either Party shall, except if the purpose for which such information is furnished pursuant to this Agreement
contemplates such disclosure or is for disclosure in public documents of ING U.S. or any of its Subsidiaries or Group or any of its Subsidiaries and, except for disclosure to other Subsidiaries of Group or ING U.S., as the case may be, be kept
strictly confidential and, unless 

  
 18 

 
otherwise required by Applicable Law or as agreed by the Parties, neither Party shall disclose, and each shall take all necessary steps to ensure that none of their respective directors,
officers, employers, agents and representatives disclose, or make use of, except in accordance with Applicable Law, such information in any manner whatsoever until such information otherwise becomes generally available to the public; provided,
however, this Section 8.4 shall not apply to information relating to or disclosed in the IPO Registration Statement or in connection with any registration statement filed in accordance with the terms of the Registration Rights Agreement. In no
event shall either Party or any of its Subsidiaries or any of their respective directors, officers, employees, agents or representatives use material non-public information of the other to acquire or dispose of securities of the other or transact in
any way on such securities. Each Party shall be liable for any breach of this Section 8.4 by it or any of its Subsidiaries or any of their respective directors, officers, employees, agents and representatives. 

Section 8.5 Interpretation; Effect. In this Agreement, except as context may otherwise require, (a) the words
“hereby”, “hereof”, “herein”, and “hereunder” and words of similar import, when used in this Agreement, shall refer to this Agreement as a whole and not to any particular provision of this Agreement,
(b) terms defined in the singular have a comparable meaning when used in the plural, and vice versa, (c) references herein to a specific Article, Section, Subsection or Schedule shall refer, respectively, to Article, Sections, Subsections
or Schedules of this Agreement, (d) references to the transactions contemplated hereby include the transactions provided for in this Agreement, (e) references to any agreement (including this Agreement), contract, statute or regulation are
to the agreement, contract, statute or regulation as amended, modified, supplemented, restated or replaced from time to time (in the case of an agreement or contract, to the extent permitted by the terms thereof), and to any section of any statute
or regulation include any successor to the section, (f) references to any Governmental Authority includes any successor to that Governmental Authority, (g) wherever the word “include”, “includes”, or
“including” is used in this Agreement, it shall be deemed to be followed by the words “without limitation”, (h) the word “person” is to be interpreted broadly to include any individual, savings association, bank,
trust company, corporation, limited liability company, partnership, association, joint-stock company, business trust, labor union, works council or unincorporated organization, (i) references herein to any gender include each other gender,
(j) all pronouns and variations of pronouns will be deemed to refer to the feminine, masculine or neuter, singular or plural, as the identity of the person referred to may require, (k) headings and numbering of sections and paragraphs in
this Agreement are for convenience only and will not be construed to define or limit any of the terms in this Agreement or affect the meaning or interpretation of this Agreement, (l) this Agreement is the product of negotiation by the Parties,
having the assistance of counsel and other advisers, (m) the Parties intend that this Agreement not be construed more strictly with regard to one Party than with regard to any other, and (n) no provision of this Agreement is to be
construed to require, directly or indirectly, any person to take any action, or omit to take any action, to the extent such action or omission would violate Applicable Law (including statutory and common law), rule or regulation. 

Section 8.6 Severability. The provisions of this Agreement shall be deemed severable and the invalidity or
unenforceability of any provision shall not affect the validity or enforceability of the other provisions hereof. Except as otherwise provided herein, if any provisions of this Agreement or the application thereof to any person or any circumstance,
is found by a court or other Governmental Authority of competent jurisdiction to be invalid or 

  
 19 

 
unenforceable, (a) a suitable and equitable provision shall be substituted therefor in order to carry out, so far as may be valid and enforceable, the intent and purpose of such invalid or
unenforceable provision and (b) the remainder of this Agreement and the application of such provision to other persons or circumstances shall not be affected by such invalidity or unenforceability, nor shall such invalidity or unenforceability
affect the validity or enforceability of such provision or the application thereof, in any other jurisdiction. 

Section 8.7 Applicable Law. Except to the extent preempted by United States Federal law, this Agreement shall be
governed by, and interpreted in accordance with, the laws of the State of New York applicable to contracts made and to be performed entirely within such State, without regard to the conflicts of law principles thereof to the extent that such
principles would apply the law of another jurisdiction. 
 Section 8.8 Amendment, Modification and Waiver.
This Agreement may be amended, modified or supplemented at any time by written agreement of the Parties. Any failure of any Party to comply with any term or provision of this Agreement may be waived by the other Party, by an instrument in writing
signed by such Party, but such waiver or failure to insist upon strict compliance with such term or provision shall not operate as a waiver of, or estoppel with respect to, any subsequent or other failure to comply. 

Section 8.9 Assignment. This Agreement shall be binding upon and inure to the benefit of the Parties and their
respective permitted successors and assigns. None of the Parties may assign any of its rights or delegate any of its obligations under this Agreement without the prior written consent of the other Party, except as provided in this Section 8.9.
Any purported assignment in violation of this Section 8.9 shall be null and void ab initio. Notwithstanding the foregoing, Group may, without consent of ING U.S., assign all of its rights, benefits and obligations under this Agreement to
one or more of its Affiliates; provided that no such assignment shall relieve Group of any of its obligations hereunder; and provided, further, that any such transferee assumes all of Group’s obligations under this
Agreement in a written instrument. Notwithstanding the foregoing, ING U.S. and its Subsidiaries may assign all of its rights, benefits and obligations under this Agreement upon the prior written consent of Group, which consent is not to be
unreasonably withheld, conditioned or delayed, solely to an acquirer of all or substantially all of the ING U.S. business that assumes the obligations of ING U.S. and its Subsidiaries under this Agreement. 

Section 8.10 Counterparts. This Agreement may be executed in two or more counterparts that may be delivered by means
of facsimile or email (or any other electronic means such as “.pdf” or “.tiff” files), each of which shall be deemed to constitute an original, but all of which together shall be deemed to constitute one and the same instrument.

 Section 8.11 Joinder. Group shall take such actions as may be required to ensure that each of its
Affiliates that operates materially in the fields of insurance, retirement or investment management that ceases to be an Affiliate of Group during the Transition Period shall, prior to or as of such time as such Affiliate ceases to be an Affiliate
of Group, enter into a joinder agreement with terms and conditions substantially identical to the terms and conditions of this Agreement to the extent applicable to the business of such Affiliate, pursuant to which such Affiliate shall be bound by,
and entitled to the benefits of, this Agreement as if such Affiliate were a direct party hereto. Any such joinder shall be considered to be a binding and direct agreement between such divested Affiliate and ING U.S. 

[SIGNATURE PAGE FOLLOWS] 

  
 20 

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

					
		 	ING U.S., Inc.
		
	By:	 	 /s/ Alain M. Karaoglan

		 	Name:	 	Alain M. Karaoglan
		 	Title:	 	 Executive Vice President
 and
Chief Operating Officer

  

					
	By:	 	 /s/ Ewout L. Steenbergen

		 	Name:	 	Ewout L. Steenbergen
		 	Title:	 	 Executive Vice President
 And
Chief Financial Officer

  

			
		 	ING Groep N.V.
		
	By:	 	 /s/ Jan H.M. Hommen

		 	Name: Jan H.M. Hommen
		 	Title:   Managing Director
		
	By:	 	 /s/ Willem F. Nagel

		 	Name: Willem F. Nagel
		 	Title:   Managing Director

  
 [Signature
Page to Transitional Intellectual Property License Agreement] 

 Schedule 1 

ING PTO Trademarks 
  

							
	 Record Owner
	  	 Mark
	  	 Registration No.
	  	 Registration Date

				
	Group	  	ING ARCHITECT VARIABLE ANNUITY	  	3304476	  	October 2, 2007
				
	Group	  	ING (bench design)	  	3205169	  	February 6, 2007
				
	Group	  	ING	  	2407797	  	November 28, 2000
				
	Group	  	ING BENEFITS SOLUTIONS	  	3322536	  	October 30, 2007
				
	Group	  	ING DIAL DISABILITY INCOME ASSISTANCE LINE	  	3439104	  	June 3, 2008
				
	Group	  	ING FRAMEWORK	  	3832519	  	August 10, 2010
				
	Group	  	ING GOLDENSELECT	  	3383852	  	February 19, 2008
				
	Group	  	ING LIFE PROMOCENTER	  	3284467	  	August 28, 2007
				
	Group	  	ING MARKETSTYLE	  	3157449	  	 October 17, 2006
  

(Sec. 8 Dec. w/ grace due April 17, 2013)

				
	Group	  	ING SIMPLEFLEX ANNUITY	  	78930315	  	July 15, 2006
				
	Group	  	ING SIMPLICITY	  	3488629	  	August 19, 2008
				
	Group	  	ING SIMPLICITY VARIABLE ANNUITY	  	3488628	  	August 19, 2008
				
	Group	  	ING SMARTWORKS	  	3082006	  	April 18, 2006
				
	Group	  	ING SPORTS	  	3603225	  	April 7, 2009
				
	Group	  	ING’S TRANSITION COUNSELING	  	3439362	  	June 3, 2008
				
	Group	  	ING UNSUNG HEROES	  	3068318	  	March 14, 2006

  
 [Signature
Page to Transitional Intellectual Property License Agreement] 

							
	 Record Owner
	  	 Mark
	  	 Registration No.
	  	 Registration Date

				
	Group	  	ING. YOUR FUTURE. MADE EASIER.	  	3189505	  	 December 26, 2006
  

(Sec. 8 Dec. due December 26, 2012)

				
	Group	  	IT’S EASIER ON THE BENCH. ING	  	3322364	  	October 30, 2007
				
	Group	  	IT’S EASIER TO SUCCEED WITH THE STRENGTH OF ING BEHIND YOU	  	3434155	  	May 27, 2008

  
 23 

 Schedule 2 

ING Abandoned Trademarks 
  

							
	 Record Owner
	  	 Mark
	  	 Registration No.
	  	 Registration Date

				
	Group	  	ING ARCHITECT VARIABLE ANNUITY	  	3304476	  	October 2, 2007
				
	Group	  	ING (bench design)	  	3205169	  	February 6, 2007
				
	Group	  	ING BENEFITS SOLUTIONS	  	3322536	  	October 30, 2007
				
	Group	  	ING DIAL DISABILITY INCOME ASSISTANCE LINE	  	3439104	  	June 3, 2008
				
	Group	  	ING GOLDENSELECT	  	3383852	  	February 19, 2008
				
	Group	  	ING LIFE PROMOCENTER	  	3284467	  	August 28, 2007
				
	Group	  	ING MARKETSTYLE	  	3157449	  	 October 17, 2006
  

(Sec. 8 Dec. w/ grace due April 17, 2013)

				
	Group	  	ING SIMPLEFLEX ANNUITY	  	78930315	  	July 15, 2006
				
	Group	  	ING SIMPLICITY	  	3488629	  	August 19, 2008
				
	Group	  	ING SIMPLICITY VARIABLE ANNUITY	  	3488628	  	August 19, 2008
				
	Group	  	ING SMARTWORKS	  	3082006	  	April 18, 2006
				
	Group	  	ING UNSUNG HEROES	  	3068318	  	March 14, 2006
				
	Group	  	ING. YOUR FUTURE. MADE EASIER.	  	3189505	  	 December 26, 2006
  

(Sec. 8 Dec. due December 26, 2012)

				
	Group	  	IT’S EASIER ON THE BENCH. ING	  	3322364	  	October 30, 2007
				
	Group	  	IT’S EASIER TO SUCCEED WITH THE STRENGTH OF ING BEHIND YOU	  	3434155	  	May 27, 2008

  
 24 

 Schedule 3 

ING U.S. Domain Names 

ing.us 
 ing401k.com 

ing401kinfocenter.com 
 ing4life.com 

ing4life.mobi 
 ing4life.net 

ingadvantageselect.com 
 ingadvisoryservices.com

 ing-agency.com 
 ingamericas.biz

 ingamericas.com 
 ingamericas.info

 ingamericas.net 
 ingamericas.org

 ingannuities.com 

ingannuitiesillustrations.com 

ingannuitiesmarketing.com 
 ingannuityasset.com

 ingbacktothebasics.com 

ingbenefits.com 
 ingbrokerage.com 

ingbusinessplanning.com 
 ing-career.com

 ingcircleofexcellence.com 

ingclt.com 
 ingcompareme.com 

ingeasier.com 
 ingebonline.com 

ingeducatorsdirect.com 
 ingeducatorsdirect.net

 ingemployeebenefits-us.com 

ingemployeebenefits-us.net 
 ingespanol.com

 ingexecutivebenefits.com 

ingexecutivebenefitssolar.com 
 ingfa.com

 ingfacebook.com 
 ingfinancial.net

  
 25 

 ingfinancialadvisers.com 
 ingfinancialadvisors.com 
 ingfinancialpartner.com 

ingfinancialpartners.com 

ingfinancialpartners.net 

ingfinancialsolutions.com 
 ingfixedannuities.com

 ingfixeddesign.com 
 ingforelife.com

 ingforlife.com 
 ingforlife.mobi

 ingforlife.net 

ingforprofessionals.com 
 ingforprofessionals.net

 ingforprofessionals.org 

ingforretirement.com 
 ingfourlife.com

 ingfp.com 
 ing-fs.com 

ingfunds.com 
 ingfunds.net 

inggiving.com 
 ingglobalopportunities.com

 ingglobalperspectives.com 

inggoldenamerican.com 
 inghawaii.com 

inghomeguard.com 
 inghomeguard.net 

inghomeguard.org 
 inghospitality.com 

ing-ifs.com 
 ingindividualretirement.com

 inginsight.com 
 inginstantterm.com

 inginvestment.com 
 inglaces.com

 inglife101.com 
 inglifeinsurance.com

 inglifeinsurance.net 

inglifeinsurancequote.com 
 inglifepayplus.com

 inglifeplaybook.biz 

  
 26 

 inglifeplaybook.com 
 inglifeplaybook.net 
 inglifeplaybook.org 
 inglifeplaybook.us 
 inglifeproductavenue.com 

inglifeproductavenue.net 
 inglifepromocenter.com

 ingliferetirementplanning.com 

inglifeservicecenter.com 
 inglifesolar.com

 ingmarketingcentral.com 

ingmarketingsuite.com 
 ingmortgageterm.com

 ingmortgageterm.net 

ingmortgageterm.org 
 ingmyretirement.com

 ingnationaltrust.com 

ingnorthamerica.com 
 ingontrack.com 

ingorangelaces.com 
 ingorangelaces.org

 ingorangeshoelaces.com 

ingpartners.com 
 ingplanning4retirement.com

 ingplans.com 
 ingplans.net

 ingplans.org 
 ingpremiumfinance.com

 ingpreparingforretirement.com 

ingpresents.com 
 ingproducercenter.com

 ingproducerwebinar.com 

ingprofessionals.biz 
 ingprofessionals.com

 ingprofessionals.net 

ingprofessionals.org 
 ingremote.com 

ingrepcertification.com 
 ingresourceavenue.com

 ingretailretirementservices.com 

ingretailretirementsolutions.com 

  
 27 

 ingretirement.com 
 ingretirementdirect.com 
 ingretirementplan.com 

ingretirementplans.com 
 ingretirementplans.net

 ingretirementresearch.com 

ingretireplanning.com 
 ingrfsb.com 

ingrollover.com 
 ingrollovers.com 

ingrunforsomethingbetter.com 

ingrunforsomethingbetter.org 

ing-securitylife.com 
 ingselectadvantage.com

 ingselectadvantageira.com 

ingservicecenter.com 
 ingsimplylife.com

 ingsmartworks.com 
 ingsmartworks.net

 ingsmartworks.org 
 ingsso.com

 ingstayingontrack.com 

ingtermesubmit.com 
 ingtermesubmit.net

 ingtermesubmit.org 

ingtermlifesuite.com 
 ingtrainingcenter.com

 ingtransfertool.com 
 ing-usa.com

 ing-usa.net 
 ing-usafoundation.com

 ingusamailtest.com 
 ingva.com

 ingvariable.com 

ingvariableannuities.com 
 ingvariableannuity.com

 ingvasecure.com 
 ingvfc.com

 ingyournumber.com 

ing-yournumber.com 
 ing-your-number.com

 ingyournumber.net 

  
 28 

 ing-yournumber.net 
 ing-your-number.net 
 ingyournumber.org 
 ingyourretirement.com 

  
 29 

 Schedule 4 

Redirected Domain Names 

ing.us 
 ing401k.com 

ing401kinfocenter.com 
 ing4life.com 

ing4life.mobi 
 ing4life.net 

ingadvantageselect.com 
 ingadvisoryservices.com

 ing-agency.com 
 ingamericas.biz

 ingamericas.com 
 ingamericas.info

 ingamericas.net 
 ingamericas.org

 ingannuities.com 

ingannuitiesillustrations.com 

ingannuitiesmarketing.com 
 ingannuityasset.com

 ingbenefits.com 
 ingbrokerage.com

 ingbusinessplanning.com 

ingcircleofexcellence.com 
 ingclt.com

 ingcompareme.com 
 ingebonline.com

 ingeducatorsdirect.com 

ingeducatorsdirect.net 

ingemployeebenefits-us.com 

ingemployeebenefits-us.net 
 ingespanol.com

 ingexecutivebenefits.com 

ingexecutivebenefitssolar.com 
 ingfa.com

 ingfinancial.net 

ingfinancialadvisers.com 

ingfinancialadvisors.com 

ingfinancialpartner.com 

ingfinancialpartners.com 

  
 30 

 ingfinancialpartners.net 
 ingfinancialsolutions.com 
 ingfixedannuities.com 

ingfixeddesign.com 
 ingforelife.com 

ingforlife.com 
 ingforlife.mobi 

ingforlife.net 
 ingforprofessionals.com

 ingforprofessionals.net 

ingforprofessionals.org 
 ingforretirement.com

 ingfourlife.com 
 ingfp.com

 ing-fs.com 
 ingfunds.com 

ingfunds.net 
 inggiving.com 

ingglobalopportunities.com 

ingglobalperspectives.com 
 inggoldenamerican.com

 inghawaii.com 
 inghomeguard.com

 inghomeguard.net 
 inghomeguard.org

 inghospitality.com 
 ing-ifs.com

 ingindividualretirement.com 

inginsight.com 
 inginstantterm.com 

inginvestment.com 
 inglaces.com 

inglife101.com 
 inglifeinsurance.com 

inglifeinsurance.net 
 inglifeinsurancequote.com

 inglifepayplus.com 

inglifeplaybook.biz 
 inglifeplaybook.com

 inglifeplaybook.net 

inglifeplaybook.org 
 inglifeplaybook.us

  
 31 

 inglifeproductavenue.com 
 inglifeproductavenue.net 
 inglifepromocenter.com 

ingliferetirementplanning.com 

inglifeservicecenter.com 
 inglifesolar.com

 ingmarketingcentral.com 

ingmarketingsuite.com 
 ingmortgageterm.com

 ingmortgageterm.net 

ingmortgageterm.org 
 ingmyretirement.com

 ingnationaltrust.com 

ingnorthamerica.com 
 ingontrack.com 

ingorangelaces.com 
 ingorangelaces.org

 ingorangeshoelaces.com 

ingpartners.com 
 ingplanning4retirement.com

 ingplans.com 
 ingplans.net

 ingplans.org 
 ingpremiumfinance.com

 ingpreparingforretirement.com 

ingpresents.com 
 ingproducercenter.com

 ingproducerwebinar.com 

ingprofessionals.biz 
 ingprofessionals.com

 ingprofessionals.net 

ingprofessionals.org 
 ingremote.com 

ingrepcertification.com 
 ingresourceavenue.com

 ingretailretirementservices.com 

ingretailretirementsolutions.com 

ingretirement.com 
 ingretirementdirect.com

 ingretirementplan.com 

ingretirementplans.com 

  
 32 

 ingretirementplans.net 
 ingretirementresearch.com 
 ingretireplanning.com 

ingrfsb.com 
 ingrollover.com 

ingrollovers.com 
 ingrunforsomethingbetter.com

 ingrunforsomethingbetter.org 

ing-securitylife.com 
 ingselectadvantage.com

 ingselectadvantageira.com 

ingservicecenter.com 
 ingsimplylife.com

 ingsmartworks.com 
 ingsmartworks.net

 ingsmartworks.org 
 ingsso.com

 ingstayingontrack.com 

ingtermesubmit.com 
 ingtermesubmit.net

 ingtermesubmit.org 

ingtermlifesuite.com 
 ingtrainingcenter.com

 ingtransfertool.com 
 ing-usa.com

 ing-usa.net 
 ing-usafoundation.com

 ingusamailtest.com 
 ingva.com

 ingvariable.com 

ingvariableannuities.com 
 ingvariableannuity.com

 ingvasecure.com 
 ingvfc.com

 ingyournumber.com 

ing-yournumber.com 
 ing-your-number.com

 ingyournumber.net 

ing-yournumber.net 
 ing-your-number.net

 ingyournumber.org 

ingyourretirement.com 

  
 33 

 Schedule 5 

Your Number Campaign Marks 
 Link to ING U.S. Internet Site: 
 http://www.ingyournumber.com/ 

Link to Advertising Examples: 

http://www.youtube.com/watch?v=PZtDU5gXxDc&feature=relmfu 
 http://www.youtube.com/watch?v=YzkhDNfXfLE&feature=related 

http://www.youtube.com/watch?v=cDzUUJSgzyY&playnext=1&list=PL569CE5FA52BD2A28&feature=results_main 

  
 34 

 Exhibit A 

ING Corporate Branding Guidelines, version 2007 

  
 35 

 Exhibit B 

Joinder Agreement 

  
 36

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00216-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00216-of-00352.parquet"}]]