Amendment to Unconditional Capital Maintenance Agreement between American International Group, Inc. and SunAmerica Life Insurance Company (March 30, 2012)
American International Group, Inc. (AIG) and SunAmerica Life Insurance Company have agreed to amend their existing Capital Maintenance Agreement. Effective March 30, 2012, the required minimum capital level for SunAmerica is set at 435% of its Company Action Level Risk-Based Capital (RBC). This amendment ensures SunAmerica maintains a higher capital threshold as specified in the updated agreement. The amendment is acknowledged and agreed to by both parties' authorized representatives.
Exhibit 10.9
March 30, 2012
SunAmerica Life Insurance Company
c/o SunAmerica Life Insurance Companies
21650 Oxnard Street, MS 6-9
Woodland Hills, CA 91367
Attention: Scott Gillis
SAFG Retirement Services, Inc.
1 SunAmerica Center, 37th Floor
Los Angeles, CA 90067
Attention: General Counsel
Ladies and Gentlemen:
Reference is made to that certain Unconditional Capital Maintenance Agreement dated as of March 30, 2011 (the “Capital Maintenance Agreement”) by and between American International Group, Inc. and SunAmerica Life Insurance Company (the “Company”). Capitalized terms, unless otherwise defined herein, shall have the meanings set forth in the Capital Maintenance Agreement.
Pursuant to paragraph 3 of the Capital Maintenance Agreement, the undersigned parties hereby agree that effective as of March 30, 2012, the Specified Minimum Percentage shall equal 435%. Accordingly, Schedule 1 to the Capital Maintenance Agreement shall be restated as follows:
“The Specified Minimum Percentage shall equal 435% of the Company’s Company Action Level RBC.”
|
| Yours sincerely, | |
|
|
| |
|
| AMERICAN INTERNATIONAL GROUP, INC. | |
|
|
|
|
|
|
|
|
|
| By: | /s/ David L. Herzog |
|
|
| Name: David L. Herzog |
|
|
| Title: Executive Vice President and |
|
|
| Chief Financial Officer |
Acknowledged and agreed:
SUNAMERICA LIFE INSURANCE COMPANY
| By: | /s/ Michael J. Akers |
|
|
| Name: Michael J. Akers |
|
|
| Title: President and Chief Executive Officer |
|
