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American Equity Investment Life Holding Co. – ‘10-Q’ for 3/31/23 – ‘EX-10.2’

On:  Wednesday, 5/10/23, at 1:14pm ET   ·   For:  3/31/23   ·   Accession #:  1039828-23-77   ·   File #:  1-31911

Previous ‘10-Q’:  ‘10-Q’ on 11/8/22 for 9/30/22   ·   Next:  ‘10-Q’ on 8/9/23 for 6/30/23   ·   Latest:  ‘10-Q’ on 5/10/24 for 3/31/24   ·   6 References:   

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  As Of               Filer                 Filing    For·On·As Docs:Size

 5/10/23  American Equity Inv Life Hold… Co 10-Q        3/31/23  100:20M

Quarterly Report   —   Form 10-Q

Filing Table of Contents

Document/Exhibit                   Description                      Pages   Size 

 1: 10-Q        Quarterly Report                                    HTML   4.70M 
 2: EX-10.1     Material Contract                                   HTML     52K 
 3: EX-10.2     Material Contract                                   HTML     35K 
 4: EX-31.1     Certification -- §302 - SOA'02                      HTML     36K 
 5: EX-31.2     Certification -- §302 - SOA'02                      HTML     36K 
 6: EX-32.1     Certification -- §906 - SOA'02                      HTML     32K 
 7: EX-32.2     Certification -- §906 - SOA'02                      HTML     32K 
13: R1          Cover Page                                          HTML     90K 
14: R2          Consolidated Balance Sheets                         HTML    190K 
15: R3          Consolidated Balance Sheets (Parentheticals)        HTML     89K 
16: R4          Consolidated Statements of Operations               HTML    178K 
17: R5          Consolidated Statements of Comprehensive Income     HTML     88K 
                (Loss)                                                           
18: R6          Consolidated Statements of Changes in               HTML     99K 
                Stockholders' Equity                                             
19: R7          Consolidated Statements of Cash Flows               HTML    194K 
20: R8          Consolidated Statements of Operations               HTML     32K 
                (Parentheticals)                                                 
21: R9          Significant Accounting Policies                     HTML     64K 
22: R10         Fair Values of Financial Instruments                HTML    281K 
23: R11         Investments                                         HTML    254K 
24: R12         Mortgage Loans on Real Estate                       HTML    422K 
25: R13         Variable Interest Entities                          HTML     56K 
26: R14         Derivative Instruments                              HTML    139K 
27: R15         Deferred Policy Acquisition Costs and Deferred      HTML    129K 
                Sales Inducements                                                
28: R16         Policyholder Liabilities                            HTML    344K 
29: R17         Notes and Loan Payable                              HTML     49K 
30: R18         Commitments and Contingencies                       HTML     35K 
31: R19         Earnings (Loss) Per Common Share and Stockholders'  HTML     55K 
                Equity                                                           
32: R20         Subsequent Events                                   HTML     32K 
33: R21         Significant Accounting Policies (Policies)          HTML    107K 
34: R22         Significant Accounting Policies (Tables)            HTML    255K 
35: R23         Fair Values of Financial Instruments (Tables)       HTML    325K 
36: R24         Investments (Tables)                                HTML    250K 
37: R25         Mortgage Loans on Real Estate (Tables)              HTML    418K 
38: R26         Variable Interest Entities (Tables)                 HTML     55K 
39: R27         Derivative Instruments (Tables)                     HTML    141K 
40: R28         Deferred Policy Acquisition Costs and Deferred      HTML     89K 
                Sales Inducements (Tables)                                       
41: R29         Policyholder Liabilities (Tables)                   HTML    367K 
42: R30         Notes and Loan Payable (Tables)                     HTML     46K 
43: R31         Earnings (Loss) Per Common Share and Stockholders'  HTML     46K 
                Equity (Tables)                                                  
44: R32         Significant Accounting Policies (Narrative)         HTML     44K 
                (Details)                                                        
45: R33         Significant Accounting Policies - Schedule of       HTML    106K 
                Long-Duration Contracts (Details)                                
46: R34         Fair Values of Financial Instruments (Fair Values   HTML     89K 
                and Carrying Amounts of Financial Instruments)                   
                (Details)                                                        
47: R35         Fair Values of Financial Instruments (Assets and    HTML    153K 
                Liabilities Measured on a Recurring Basis by Fair                
                Value Hierarchy) (Details)                                       
48: R36         Fair Values of Financial Instruments (Narrative)    HTML    133K 
                (Details)                                                        
49: R37         Fair Values of Financial Instruments (Assumptions   HTML     64K 
                Used in Estimating Fair Value) (Details)                         
50: R38         Fair Values of Financial Instruments                HTML     88K 
                (Reconciliation of Beginning and Ending Balances                 
                of Level 3 Assets and Liabilities) (Details)                     
51: R39         Investments (Narrative) (Details)                   HTML     43K 
52: R40         Investments (Schedule of Fixed Maturity             HTML     81K 
                Securities) (Details)                                            
53: R41         Investments (Fixed Maturity Securities by           HTML     89K 
                Contractual Maturity) (Details)                                  
54: R42         Investments (Net Unrealized Gains (Losses) on       HTML     38K 
                Investments Reported as a Separate Component of                  
                Stockholders' Equity) (Details)                                  
55: R43         Investments (Credit Quality of Fixed Maturity       HTML     51K 
                Security Portfolio by NAIC Designation) (Details)                
56: R44         Investments (Gross Unrealized Losses on             HTML     93K 
                Investments, By Category and Length of Time)                     
                (Details)                                                        
57: R45         Investments (Changes in Net Unrealized              HTML     43K 
                Gains/Losses on Investments) (Details)                           
58: R46         Investments (Net Realized Gains (Losses) on         HTML     63K 
                Investments) (Details)                                           
59: R47         Investments (Rollforward of Allowance for Credit    HTML     49K 
                Loss) (Details)                                                  
60: R48         Mortgage Loans on Real Estate (Narrative)           HTML     63K 
                (Details)                                                        
61: R49         Mortgage Loans on Real Estate (Summary of Mortgage  HTML     60K 
                Loan Portfolio) (Details)                                        
62: R50         Mortgage Loans on Real Estate (Commercial Mortgage  HTML     71K 
                Loan Portfolio Summarized by Geographic Region and               
                Property Type) (Details)                                         
63: R51         Mortgage Loans on Real Estate (Rollforward of       HTML     51K 
                Valuation Allowance on Mortgage Loan Portfolios)                 
                (Details)                                                        
64: R52         Mortgage Loans on Real Estate (Summary By Debt      HTML    140K 
                Service Coverage and Loan to Value Ratios)                       
                (Details)                                                        
65: R53         Mortgage Loans on Real Estate (Aging of Financing   HTML    114K 
                Receivables) (Details)                                           
66: R54         Variable Interest Entities - Narrative (Details)    HTML     44K 
67: R55         Variable Interest Entities (Consolidated VIEs)      HTML     68K 
                (Details)                                                        
68: R56         Variable Interest Entities (Unconsolidated VIEs)    HTML     49K 
                (Details)                                                        
69: R57         Derivative Instruments (Narrative) (Details)        HTML     39K 
70: R58         Derivative Instruments (Notional and Fair Value of  HTML     58K 
                Derivative Instruments) (Details)                                
71: R59         Derivative Instruments (Carrying Amount and         HTML     41K 
                Cumulative Fair Value Hedging Adjustments)                       
                (Details)                                                        
72: R60         Derivative Instruments (Gains (Losses) Related to   HTML     45K 
                Derivatives and Hedged Items) (Details)                          
73: R61         Derivative Instruments (Change in Fair Value of     HTML     50K 
                Derivatives Not Designated as Hedging) (Details)                 
74: R62         Derivative Instruments (Derivative Call Options     HTML     73K 
                and Interest Rate Swaps by Counterparty) (Details)               
75: R63         Deferred Policy Acquisition Costs and Deferred      HTML     61K 
                Sales Inducements - Schedule of Deferred Policy                  
                Acquisition Costs (Details)                                      
76: R64         Deferred Policy Acquisition Costs and Deferred      HTML     52K 
                Sales Inducements - Schedule of Deferred Sales                   
                Inducements (Details)                                            
77: R65         Policyholder Liabilities - Schedule of Present      HTML     70K 
                Value of Expected Future Policy Benefits (Details)               
78: R66         Policyholder Liabilities - Summary of Liability     HTML     62K 
                For Future Policy Benefits Activity (Details)                    
79: R67         Policyholder Liabilities - Reconciliation of the    HTML     35K 
                Net Liability For Future Policy Benefits to the                  
                Liability For Future Policy Benefits (Details)                   
80: R68         Policyholder Liabilities - Schedule of Changes in   HTML    109K 
                the Liability for Market Risk Benefits (Details)                 
81: R69         Policyholder Liabilities - Schedule of              HTML     41K 
                Reconciliation of Reinsurance Market Risk Benefits               
                by Assets and Liabilities (Details)                              
82: R70         Policyholder Liabilities - Schedule of Reinsured    HTML     67K 
                Market Risk Benefits (Details)                                   
83: R71         Policyholder Liabilities - Reconciliation of        HTML     48K 
                Market Risk Benefits in an Asset Position and in a               
                Liability Position (Details)                                     
84: R72         Policyholder Liabilities - Significant Inputs and   HTML     59K 
                Assumptions (Details)                                            
85: R73         Policyholder Liabilities - Changes in Policyholder  HTML     72K 
                Account Balances (Details)                                       
86: R74         Policyholder Liabilities - Reconciliation of        HTML     49K 
                Policyholders? Account Balances to the                           
                Policyholders? Account Balances? Liability                       
                (Details)                                                        
87: R75         Policyholder Liabilities - Account Balances by      HTML    181K 
                Guaranteed Minimum Interest Rates (Details)                      
88: R76         Notes and Loan Payable (Schedule of Notes and Loan  HTML     50K 
                Payable) (Details)                                               
89: R77         Notes and Loan Payable (2027 Notes Narrative)       HTML     43K 
                (Details)                                                        
90: R78         Notes and Loan Payable (Term Loan Narrative)        HTML     44K 
                (Details)                                                        
91: R79         Commitments and Contingencies (Narrative)           HTML     42K 
                (Details)                                                        
92: R80         Earnings (Loss) Per Common Share and Stockholders'  HTML     74K 
                Equity (Schedule of Earnings Per Common Share,                   
                Basic and Diluted) (Details)                                     
93: R81         Earnings (Loss) Per Common Share and Stockholders'  HTML     57K 
                Equity (Stockholders' Equity) (Details)                          
94: R82         Earnings (Loss) Per Common Share and Stockholders'  HTML     50K 
                Equity (Share Repurchase Program and Treasury                    
                Stock) (Details)                                                 
95: R83         Subsequent Events (Narrative) (Details)             HTML     36K 
98: XML         IDEA XML File -- Filing Summary                      XML    195K 
96: XML         XBRL Instance -- ael-20230331_htm                    XML   7.34M 
97: EXCEL       IDEA Workbook of Financial Reports                  XLSX    255K 
 9: EX-101.CAL  XBRL Calculations -- ael-20230331_cal                XML    287K 
10: EX-101.DEF  XBRL Definitions -- ael-20230331_def                 XML   1.30M 
11: EX-101.LAB  XBRL Labels -- ael-20230331_lab                      XML   2.45M 
12: EX-101.PRE  XBRL Presentations -- ael-20230331_pre               XML   1.64M 
 8: EX-101.SCH  XBRL Schema -- ael-20230331                          XSD    240K 
99: JSON        XBRL Instance as JSON Data -- MetaLinks              617±  1.02M 
100: ZIP         XBRL Zipped Folder -- 0001039828-23-000077-xbrl      Zip    786K  


‘EX-10.2’   —   Material Contract


This Exhibit is an HTML Document rendered as filed.  [ Alternative Formats ]



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Exhibit 10.2
AMENDMENT TO SEPARATION AGREEMENT
This AMENDMENT TO SEPARATION AGREEMENT (this "Amendment") is entered into as of February 24, 2023 (the "Effective Date"), by and between Phyllis Zanghi ("Executive") and American Equity Investment Life Holding Company and American Equity Investment Life Insurance Company (collectively, the "Company"). Executive and Company are each a "Party" and collectively, are sometimes referred to hereinafter as the "Parties" for purposes of this Amendment.
WHEREAS, Executive and the Company have entered into a certain Separation Agreement dated December 30, 2022 (the "Agreement"); and
WHEREAS, Executive and the Company desire to amend the Agreement as set forth in this Amendment,
NOW THEREFORE, in consideration of the foregoing and of the agreements contained herein, the Parties agree as follows:
1.Unless otherwise expressly defined in this Amendment, capitalized terms shall have the meaning ascribed to them in the Agreement.
2.An additional Sub-Paragraph 2(a)(xii) shall be deemed added to the Agreement, and shall read as follows: "To the extent Executive provides evidence that either or both of the vendors providing outplacement and/or transition coaching services pursuant to Sub-Paragraph 2(a)(vii) and/or 2(a)(viii) above, refuse(s) to directly invoice the Company, the Company will reimburse Executive up to the values set forth in Section 2(a)(vii) and/or 2(a)(viii), as applicable, for such services upon Executive's demonstrating proof of payment by Executive for such services."
3.Except as specifically amended by this Amendment, the Agreement remains in full force and effect, and all references hereinafter to the Agreement shall mean the Agreement as modified by this Amendment. This Amendment may be executed in multiple counterparts which taken together shall constitute a fully-executed Amendment. PDF, DocuSign, and facsimile counterparts shall be deemed originals for purposes herein.
[REMAINDER OF PAGE INTENTIONALLY LEFT
BLANK] [SIGNATURE PAGES FOLLOW]



IN WITNESS WHEREOF, the Parties have executed this Amendment as of the day and year first above written.
Executive:
/s/ Phyllis Zanghi
Company:
/s/ Kate Etinger
Kate Etinger
Executive Vice President
Chief People Officer



Dates Referenced Herein

This ‘10-Q’ Filing    Date    Other Filings
Filed on:5/10/23None on these Dates
For Period end:3/31/23
2/24/23
12/30/22
 List all Filings 


6 Subsequent Filings that Reference this Filing

  As Of               Filer                 Filing    For·On·As Docs:Size             Issuer                      Filing Agent

 4/29/24  American Equity Inv Life Hold… Co 10-K/A     12/31/23   14:934K
 2/29/24  American Equity Inv Life Hold… Co 10-K       12/31/23  155:26M
10/11/23  Brookfield Asset Management Ltd.  424B3                  1:15M                                    Donnelley … Solutions/FA
10/11/23  Brookfield Asset Management Ltd.  F-4/A                 10:15M                                    Donnelley … Solutions/FA
 9/07/23  American Equity Inv Life Hold… Co S-8         9/07/23    5:114K
 9/01/23  Brookfield Asset Management Ltd.  F-4                   62:29M                                    Donnelley … Solutions/FA
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Filing Submission 0001039828-23-000077   –   Alternative Formats (Word / Rich Text, HTML, Plain Text, et al.)

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