Document:

EX-10.31

 Exhibit 10.31 

Dividend Equivalent Agreement 

This Dividend Equivalent Agreement (the “Agreement”), dated as of November 2, 2011, between Fidelity & Guaranty
Life Holdings, Inc., a Delaware corporation, and the Employee whose name appears on the signature page hereof, is being entered into pursuant to the Fidelity & Guaranty Life Holdings, Inc. Dividend Equivalent Plan. 

The Company and the Employee hereby agree as follows: 

Section 1. Certain Definitions. Capitalized terms used in this Agreement and not defined herein shall have the respective meaning
ascribed to such terms in the Plan. The following additional terms shall have the following meanings: 
 “Agreement” means
this Dividend Equivalent Agreement, as amended from time to time in accordance with the terms hereof. 
 “Employee” means
the grantee of the Dividend Equivalents, whose name is set forth on the signature page of this Agreement; provided that following such person’s death “Employee” shall be deemed to include such person’s beneficiary or
estate and following such person’s Disability, “Employee” shall be deemed to include such person’s legal representative. 

Section 2. Grant of Dividend Equivalents. The Company hereby evidences and confirms, effective as of the date hereof, its grant to
the Employee of a Dividend Equivalent with respect to the Stock Options set forth on the signature page hereof. This Agreement is entered into pursuant to, and the terms of the Dividend Equivalents are subject to, the terms of the Plan, all of the
terms of which are made a part of and incorporated into this Agreement. In the event of any conflict between any term of this Agreement and the terms of the Plan, the terms of the Plan shall control. 

Section 3. Vesting. The Dividend Equivalents shall be subject to the vesting provisions set forth in the Plan. 

Section 4. Forfeiture. 

(a) Normal Forfeiture Date. Unless earlier terminated pursuant to Section 4(b) or Section 5, unvested Dividend Equivalents
shall be forfeited and terminate on the earlier of (i) April 15, 2015 and (ii) January 1 of the year following any single calendar year Performance Period in which the Net Dividend Value is less than the Minimum Net Dividend
Value for such single calendar year Performance Period. 
 (b) Termination of Employment. If the Employee’s employment with the
Company terminates for any reason, (i) any Dividend Equivalents held by such 

 
Employee that have not vested on or before the effective date of such termination of employment shall be forfeited and terminate immediately upon such termination of employment and
(ii) any vested Dividend Equivalents held by such Employee on the effective date of such termination of employment shall be settled as set forth in Section 6. 

Section 5. Change in Control. In the event of a Change in Control, the Dividend Equivalents shall vest as set forth in the Plan.

 Section 6. Settlement. Subject to Article IX of the Plan, the Company shall deliver to the Employee in settlement of each
Dividend Equivalent that has vested as provided in Section 3 or Section 5, a payment in cash equal to the amount of the Dividend Equivalent on or as soon as administratively practical following the earlier of (i) the date on
which the Dividend Equivalent vests in accordance with Section 3 or (ii) a Change in Control, and in either case, in any event, no later than March 15 of the year following the year in which such Dividend Equivalent vests. 

Section 7. Miscellaneous. 

(a) Amendment. This Agreement may not be amended, modified or supplemented orally, but only by a written instrument executed by the
Employee and the Company. 
 (b) Assignability. Neither this Agreement nor any right, remedy, obligation or liability arising
hereunder or by reason hereof shall be assignable by the Company or the Employee without the prior written consent of the other party. 

(c) Applicable Law. This Agreement shall be governed by and construed in accordance with the law of the State of Delaware regardless of
the application of rules of conflict of law that would apply the laws of any other jurisdiction. 
 (d) Arbitration; Waiver of Jury
Trial. Any dispute, controversy or claim arising out of or pursuant to the Plan, this Agreement, any other agreement entered into pursuant to the Plan or any undertakings, covenants and agreements incorporated by reference into the Plan or this
Agreement shall be submitted to and finally determined by binding arbitration to be held in New York, New York at the American Arbitration Association, before one arbitrator under an in accordance with the American Arbitration Association’s
Commercial Rules, with each party to be responsible for its own attorney’s fees and costs incurred in connection therewith. In the event that this arbitration provision is determined by a court with appropriate jurisdiction to be unenforceable,
the Company and the Employee each hereby waives the right, if any, to a trial by jury of any claim that would have been subject to arbitration under this Section 7(d). Each party (i) certifies that no representative, agent or
attorney of any other party has 

  
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represented, expressly or otherwise, that such other party would not, in the event of litigation, seek to enforce the foregoing waiver and (ii) acknowledges that it and the other
parties have been induced to enter into the Agreement by, among other things, the mutual waivers and certifications in this Section 7(d). 

(e) Counterparts. This Agreement may be executed in any number of counterparts, each of which shall be deemed to be an original and all
of which together shall constitute one and the same instrument. 
 [Signature Page Follows] 

  
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 IN WITNESS WHEREOF, the Company and the Employee have executed this Agreement as of the date
first above written, 
  

			
	 FIDELITY & GUARANTY LIFE

HOLDINGS, INC.

		
	By:	 	 /s/ Rose Boehm

		 	 Name: Rose Boehm
 Title: Vice President,
Human Resources

  

			
	 THE EMPLOYEE:
  

Leland C. Launer, Jr.

	
	         /s/ Leland C. Launer, Jr.

	        Name

  

			
	 Address of the Employee:
	  	
		
	 9 Green Way
	  	
		
	 New Providence, NJ 07974
	  	
		
	 Grant Date of related Stock

Options
	  	 Number of related Stock

Options

	 November 2, 2011
	  	44,334

  
 4EX-10.32

 Exhibit 10.32 

Amendment to Restricted Stock Agreement 

This Amendment to the Restricted Stock Agreement (this “Amendment”), dated as of March 21, 2013, is entered into between
Fidelity & Guaranty Life Holdings, Inc. (the “Company”) and Leland C. Launer (the “Employee”). Capitalized terms that are not defined herein shall have the meanings given to such terms in the
Fidelty & Guaranty Life Holdings, Inc. Stock Incentive Plan (the “Plan”). 
 WHEREAS, the Company and the
Employee are parties to an Restricted Stock Agreement, dated as of December 31, 2012 (the “Restricted Stock Agreement”), which evidences the grant of shares of Restricted Stock to the Employee pursuant to the Plan; 

WHEREAS, the Company and the Employee have agreed to enter into this Amendment to modify certain provisions in the Restricted Stock Agreement
as is permitted pursuant to Section 9(f) of the Restricted Stock Agreement. 
 NOW, THEREFORE, in consideration of the mutual covenants
contained herein, the parties hereto agree as follows: 
  

	1.	Amendment to Section 2(a) of the Restricted Stock Agreement. Section 2(a) of the Restricted Stock Agreement shall hereby be amended by adding to the end thereof the following: 

“Notwithstanding the foregoing, the second installment shall vest on April 30, 2014 subject to the Employee’s continued
employment with the Company through the applicable vesting date; provided that, if the Employee’s employment with the Company is terminated by the Company for a reason other than Cause, death or Disability or if the Employee resigns for
Good Reason (as such term is defined in the Employment Agreement between the Employee and the Company or any of its Subsidiaries) before April 30, 2014, the Restricted Stock relating to such installment shall vest as of the effective date of
“termination” of employment.” 
  

	2.	Applicable Law. This Amendment shall be governed by and construed in accordance with the laws of the State of Delaware, without regard to the application of rules of conflicts of law that would apply the laws of
any other jurisdiction. 

  

	3.	Effective Date; No Other Effect on the Restricted Stock Agreement. This Amendment is effective as of May 1, 2013. Except as modified herein, the form, terms and provisions of the Restricted Stock Agreement
in effect immediately prior to this Amendment shall remain in full force and effect. 

 IN WITNESS WHEREOF, the Company and the Employee have executed this Amendment as of the date
first above written. 
  

					
	 FIDELITY & GUARANTY LIFE

HOLDINGS, INC.

		
	By:	 	/s/ Rose Boehm
		 	Name:	 	Rose Boehm
		 	Title:	 	SVP – Human Resources
	
	THE EMPLOYEE:
	
	        /s/ Leland C. Launer, Jr.
	Name: Leland C. Launer, Jr.

  
 2EX-10.33

 Exhibit 10.33 

Amendment to Employee Stock Option Agreement 

This Amendment to the Employee Stock Option Agreement (this “Amendment”), dated as of March 21, 2013, is entered into
between Fidelity & Guaranty Life Holdings, Inc. (the “Company”) and Leland C. Launer (the “Employee”). Capitalized terms that are not defined herein shall have the meanings given to such terms in the
Fidelty & Guaranty Life Holdings, Inc. Stock Incentive Plan (the “Plan”). 
 WHEREAS, the Company and the Employee
are parties to an Employee Stock Option Agreement, dated as of December 31, 2011 (the “Option Agreement”), which evidences the grant to the Employee of options to purchase shares of Common Stock of the Company, par value $0.01
(the “Options”) pursuant to the Plan; 
 WHEREAS, the Company and the Employee have agreed to enter into this Amendment to
modify certain provisions in the Option Agreement as is permitted pursuant to Section 9(i) of the Option Agreement. 
 NOW, THEREFORE,
in consideration of the mutual covenants contained herein, the parties hereto agree as follows: 
  

	1.	Amendment to Section 3(a) of the Option Agreement. Section 3(a) of the Option Agreement shall hereby be amended by adding the following to the end thereof: 

“Notwithstanding the foregoing, except as otherwise provided in Section 3(b) or Section 8 of this Agreement, the third
installment shall vest on April 30, 2014, subject to the continuous employment of the Employee with the Company until the applicable vesting date; provided that, if the Employee’s employment with the Company is terminated by the
Company for any reason other than Cause, death or Disability or if the Employee resigns for Good Reason (as such term is defined in the Employment Agreement between the Employee and the Company or any of its Subsidiaries) before April 30, 2014,
the Options relating to such installment shall vest as of the effective date of termination of employment.” 
  

	2.	Applicable Law. This Amendment shall be governed by and construed in accordance with the laws of the State of Delaware, without regard to the application of rules of conflicts of law that would apply the laws of
any other jurisdiction. 

  

	3.	Effective Date; No Other Effect on the Option Agreement. This Amendment is effective as of May 1, 2013. Except as modified herein, the form, terms and provisions of the Option Agreement in effect immediately
prior to this Amendment shall remain in full force and effect. 

 IN WITNESS WHEREOF, the Company and the Employee have executed this Amendment as of the date
first above written. 
  

					
	 FIDELITY & GUARANTY LIFE

HOLDINGS, INC.

		
	By:	 	/s/ Rose Boehm
		 	Name:	 	Rose Boehm
		 	Title:	 	SVP – Human Resources
	
	THE EMPLOYEE:
	
	        /s/ Leland C. Launer, Jr.
	Name: Leland C. Launer, Jr.

  

  
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