SEC Contract Filing

Filing Date: 2017-12-01

Document Content:
<DOCUMENT>
<TYPE>EX-10.35
<SEQUENCE>15
<FILENAME>tv480509_ex10-35.htm
<DESCRIPTION>EXHIBIT 10.35
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B>Exhibit 10.35</B></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">EXECUTION VERSION</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">INVESTMENT MANAGEMENT AGREEMENT</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">This Investment Management
Agreement (the &ldquo;<U>Agreement</U>&rdquo;), dated as of November 30, 2017, is by and between Fidelity &amp; Guaranty Life Insurance
Company, a life insurance company domiciled in the State of Iowa (the &ldquo;<U>Company</U>&rdquo;) and Blackstone ISG-I Advisors
L.L.C., a Delaware limited liability company (the &ldquo;<U>Investment Manager</U>&rdquo;).</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">WHEREAS, the Company
desires that the Investment Manager supervise and direct the investment and reinvestment with respect to the assets in the Company's
general account (the assets in such account, including any assets held in the modified coinsurance account or other collateral
arrangements established pursuant to the Reinsurance Agreement, as defined below, or other arrangements, and together with all
additions, substitutions and alterations thereto, are collectively referred to herein as the &ldquo;<U>Account</U>&rdquo;), and
the Investment Manager wishes to accept such appointment on the terms and conditions set forth in this Agreement.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">WHEREAS, the Company
has entered into a modified coinsurance agreement with F&amp;G Re Ltd, a Bermuda Class C reinsurance company organized under the
laws of Bermuda, pursuant to which the Company will hold the assets and reserves associated with the liabilities ceded thereunder
in a modified coinsurance account, which will be maintained by the Company and will be part of the Company's general account (such
agreement, the &ldquo;<U>Reinsurance Agreement</U>&rdquo;).</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">NOW, THEREFORE, in consideration
of the mutual covenants herein contained, the parties hereto agree as follows:</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">1.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Appointment
of Investment Manager</U>. On the terms and subject to the conditions set forth herein, the Company hereby appoints the Investment
Manager as investment manager of the Account with discretionary authority to manage the investment and reinvestment of the funds
and assets of the Account in accordance with the terms hereof, and the Investment Manager accepts such appointment. In the course
of providing the services contemplated by this Agreement, the Investment Manager shall act as a fiduciary and shall discharge its
fiduciary duties and exercise each of its powers under this Agreement with the care, skill and diligence that a registered investment
adviser, acting in a like capacity and familiar with insurance company matters, would use in the conduct of a like enterprise with
like aims, taking into consideration the facts and circumstances then prevailing, and such fiduciary duties shall specifically
include a duty (a) to act with good faith; (b) of loyalty to Company; (c) to provide full and fair disclosure of all material facts;
(d) to employ reasonable care to avoid misleading Company; and (e) to act in a manner consistent with the Investment Guidelines
for the Account as agreed to between Investment Manager and Company.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">2.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Management
Services; Duties of and Restrictions on Investment Manager; Sub-Managers</U>.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&