2019 Council Program. Centurion Program

re

2019

Council Program

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C

OUNCIL

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ROGRAM

Agent Eligibility1_:

Full-time agents and College Intern agents of the Company are eligible for Council membership

Qualifying Period:

July 1, 2018 - June 29, 2019

July 1, 2019 - June 30, 2020

1_{The Company reserves the right to deny Council membership and/or Officership to an otherwise qualified agent whose personal} or business conduct, in the Company’s judgment, may adversely affect the good standing and reputation of New York Life or its subsidiaries.

2_{Supplemental bonuses do not count toward Cabinet qualification, Chairman’s Top 150, Council Officership or the 35,000} Council Credits qualification amount for Quality Council.

3_{Cabinet, Chairman’s Top 150 or Premier Agents who meet the minimum requirements are not guaranteed to qualify for} Chairman’s Cabinet2,3,5 _{Top 50 CC Council Credit Producers; or}

Agents ranked numbers 51-75 with a minimum of 490,000 credits

Chairman’s Top 1502,3,4,5 _{Agents ranked numbers 76-150 in Chairman’s Council with a}

minimum of 345,000 credits; or CC Premier Centurions

Chairman’s Council 269,000 credits with a minimum of $30,000 in Life First Year Commissions

President’s Premier3,4,6 _{Top 50 PC Council Credit producers; or}

Agents ranked number 51-75 with a minimum of 207,000 credits; or PC Premier Centurions

President’s Council 156,000 credits with a minimum of $15,000 in Life First Year Commissions

Executive Premier3,4,7 _{Top 50 EC Council Credit Producers in each Zone; or}

Agents ranked number 51-75 in each Zone with a minimum of 114,000 credits; or EC Premier Centurions

Executive Council 70,000 credits with a minimum of $7,500 in Life First Year Commissions

Quality Council 47,500 credits or 50 paid life cases with a minimum of 35,000 Council Credits2

Step-in Rules8

Agents who have not previously qualified for Chairman’s or President’s Council may do so in 2019 at the following levels:

1st Time CC – 243,000

1st Time PC – 141,000

The following step-in rules will apply for 2019 Executive Council qualification for agents contracted on or after January 1, 2015:

• Agents with contracts dated January 1, 2018 and later who earn 47,500 or more Council Credits will be recognized as members of the 2019 Executive Council. Agents appointed under a TEA/PEA contract are eligible.

• Agents with contracts dated January 1, 2017 through December 31, 2017 who earn 51,500 or more Council Credits will be recognized as members of the 2019 Executive Council. Agents appointed under a TEA/PEA contract are not eligible for this step-in option.

• Agents with contracts dated January 1, 2016 through December 31, 2016 who earn 55,000 or more Council Credits will be recognized as members of the 2019 Executive Council. Agents appointed under a TEA/PEA contract are not eligible for this step-in option.

• Agents with contracts dated January 1, 2015 through December 31, 2015 who earn 62,000 or more Council Credits will be recognized as members of the 2019 Executive Council. Agents appointed under a TEA/PEA contract are not eligible for this step-in option.

Council requirements for Managers (Managing Partners, Executive Partners, Senior Partners, Partners, Associate Partners and Sales Development Managers) who return to the field will be prorated based on the number of active agent months, excluding the month the Manager returns to the field. Council requirements for direct appointment Partners who enter the field after having been a Partner for at least one year, will be prorated based on the number of active agent months, excluding the month the Partner enters the field. Agents active for less than 6 months as of June 30th _{must produce the 6-month target}

in order to qualify for any Council level.

Council credit requirements for agents who become inactive due to medical, military or maternity leave will be prorated to exclude the time on leave. When counting the number of active months for prorating the Council requirement, the month the agent goes on leave is excluded, but the month the agent returns from leave is included. Agents active for less than 6 months as of June 30th _{must produce the 6-month}

target in order to qualify for any Council level.

Council Life Membership

Agents who qualify for 20 consecutive Council memberships or 25 non-consecutive Council memberships are considered Council Life Members. Former Council Presidents can qualify for Life Membership with 15 consecutive or 20 non-consecutive Council memberships. Life Members production requirements for Council membership are 20% lower than those set forth for all agents. In

addition, Lifetime Members of Council or Cabinet Hall of Fame members are exempt from the minimum requirement. Agents who have qualified for a higher discount under previous rules may

retain those discount privileges.

Managers (Managing Partners, Executive Partners, Senior Partners, Partners, and Sales Development Managers) who return to the field will receive one year of credit toward Council Life membership for every 12 months they spent in field management, up to a maximum of three years.

8_{Agents, excluding Council Lifetime Members and Cabinet Hall of Fame members, who qualify for Council at a discounted}

Council Credits are classified into two categories for credit calculation: Core (unlimited credit); and SMA (up to 20% of Core, not to exceed 25,000).

Core Council Credits

FYC on all eligible New York Life proprietary Life, Investment Annuity, Guaranteed Lifetime Income, Long-Term Care products, proprietary and proprietary Mutual Funds, proprietary and non-proprietary Variable Life, Variable Annuity and Group Annuities (401k and group retirement plans), compensation on new contributions into Eagle Strategies Advisory Programs, Auxiliary Recruiting and Development Credits (ARD) paid to the original nominating agent, and recruiting credits paid to Management Associates earned between July 1, 2018 and June 30, 2019 will be included in the Council Credit calculation. Credits from Bonus programs such as the Case Rate Bonus and MDRT Bonus are included in the Core Credits, but will not count for Cabinet or Council Officership.

Small Case BOLI (BOLI cases with face amounts of $5 Million or less) and COLI will count for Council Credits, including Cabinet and Council Officership. Large Case BOLI (BOLI cases with face amounts greater than $5 Million) will count for Council Credits, but will not count for Cabinet or Council Officership.

Enhanced council credit amounts from “Choice Compensation” options are included in the Council Credit calculation.

Sponsored Marketing Agreements (excludes non-proprietary Mutual Funds)

FYC on Sponsored Marketing Agreements (SMAs) earned between July 1, 2018 and June 30, 2019, will be included in the Council Credit calculation up to a maximum of 20% of the Core credits earned, not to exceed 25,000. (See page 7 for further details.)

Chairman’s Cabinet Credits

Top 50 Chairman’s Cabinet Credit Producers; or Agents ranked numbers 51-75 with a minimum of 490,000 Cabinet credits.

Chairman’s Cabinet Credits exclude:

• All bonus credits from programs such as the Case Rate bonus or MDRT bonus or any other council incentive bonus program.

Council Bonuses

An agent can qualify for 2019 Case Rate Council Credits under one of the following options:

Life:

Agents who pay for 40 Life cases will receive 2,500 Council Credits. An additional 2,500 Council Credits will be awarded when an agent pays for an additional 10 Life cases for a total of 50 Life cases. An additional 1,000 Council Credits will be awarded for each additional five paid Life cases up to a maximum of 30,000 Council Credits.

In addition, agents who pay for 50 Life cases will receive an additional 5,000 Council Credits if they have a Whole Life first year lapse rate of 7.5% or less as of February 28, 2019 for cases issued between November 1, 2017 and January 31, 2019. To qualify for these 5,000 Council Credits the agent must also have a minimum of 10 Whole Life Policies issued during the calculation period of November 1, 2017 to January 31, 2019.

All Products:

Agents who pay for 100 or more cases, of which at least 50 are proprietary Life and/or Long-Term Care cases, will receive 5,000 Council Credits. An additional 1,000 Council Credits will be awarded for each additional five paid cases, up to a maximum of 15,000 Council Credits.

In order to qualify for 2019 Case Rate Council Bonus Credits, an agent’s Whole Life first year lapse rate must be less than 20% as of February 28, 2019 for cases issued between November 1, 2017 and January 31, 2019.

Please note in either scenario agents with fewer than 10 paid life cases in their lapse rate calculation will be exempt from having to meet the lapse rate requirement.

Million Dollar Round Table

Agents who qualify and register for MDRT will receive a 1,000 Council Credit bonus.

Case Count Calculation

Life, Investment Annuity, Guaranteed Lifetime Income and Long-Term Care

Case count is based on net paid cases.

Each proprietary Life, Investment Annuity, Guaranteed Lifetime Income or Long-Term Care sale counts as one case (COLI and BOLI cases are excluded).

▪ VPD (EWL) cases count 1:1.

▪ Family protection plan policies count 1:2. (One paid family protection plan equals two paid life cases.)

▪ Each non-proprietary Variable Life and Variable Annuity sale counts as one case.

9_{Council Credits earned through Bonus programs will not count toward Cabinet qualification, Council}

Term Conversions

A Term policy fully converted within 12 months of the policy issue date will not receive an additional case count because the original Term policy received the case count. However, a Term policy converted after 12 months of the policy issue date will receive a case count for the new case. Term riders on Original Age Term conversions will not receive case count credit. Term riders on Attained Age Term conversions will receive case count credit for the new case.

Mutual Funds

Only agents who are Registered Representatives of NYLIFE Securities are eligible to earn Mutual Fund cases.

Mutual Funds case counts are derived as follows;

▪ For Mutual Funds, counts are based on the number of account holders and not the number of fund transactions. Each account holder (unique tax identification or Social Security number) equals one case. Subsequent Mutual Fund sales to existing Mutual Fund account holders will not count as new cases if the transaction occurs within a 12-month period.

▪ All proprietary and non-proprietary Mutual Funds count equally. However, money market funds do not count.

Council Credit Calculations

Refunds of First-Year Commissions

Refunded commissions will be charged against the commissions counting for Council membership in the year in which the refund is made.

Exceptions: Commission refunds due to the exercise of the Free Look Period or the reversal of

commissions paid in advance, where the policy or contract is not taken, will be charged against the Council year in which the commissions were originally allowed. If the agent would not have qualified for Council without those commissions, Council status will be reduced or revoked, and all Council benefits, including expense allowances, will be adjusted accordingly.

Personally Secured Business

Only commissions on personally secured business will count for Council. All business must be submitted and settled under the conditions stipulated in the agent’s contract or in Company policies or procedures. The Company reserves the right, in the event of any violation of these conditions, to exclude all or part of an agent’s FYC from the Council Credit calculation.

Recruiting Credits

ARD credits paid during the Council year to the original nominating agent, for up to the recruited agent’s first 12 months, will count for Council Credits, including Council Officership and Cabinet. Recruiting credits paid to Management Associates will count for Council Credits but not for Council Officership or Cabinet.

Mutual Funds

Council Credits on all share classes of mutual funds will be calculated based upon the products’ gross dealer concession (GDC) and your payout rate (see payout grid on page 12). The GDC is typically determined based on the share class of the mutual fund, and if applicable, any breakpoints. Council Credits are only applied on FYC paid on new investments, not on trails paid on assets under management.

ERISA Retirement Plans (approved mutual funds & group annuity providers)

Council Credits on take-over ERISA retirement plans (e.g.,401k) will be calculated for rollover assets on new plans only based on the table below and your payout rate. Subsequent contributions into existing plans are not eligible for Council Credits. The plan balance is determined by the value reported by the provider at the month end of May, August, November or February after the investor profile is submitted and approved by both NYLIFE Securities and the provider.

AUM Bands

month end May, August, November and February)

BPS

$0 – 10M

50 bps

$10M – 20M

35 bps

$20M – 30M

25 bps

$30M +

10 bps

Eagle Strategies Financial Advisers will receive double Council Credits for fees on new contributions into Eagle Advisory accounts and single Council Credits on new contributions into Eagle ERISA Investment Manager Program (EIMP) Retirement Plans and Third-Party Solicitor Programs with a retirement plan registration type (i.e., 401k, Defined Benefit, Cash Balance, etc.). “New contributions” refer to any initial or additional deposit into an account for which an IAR has not already received compensation. Internal transfers between Eagle Advisory accounts will not earn for new Council Credits. Eagle Retirement Plan Consulting Program Retirement Plans will receive single credit on the annualized fee amount.

For contributions to Eagle Advisory Programs, Council Credits will be based on 2 times the annualized fee amount on the new contribution, applied at your payout rate (see payout grid on page 11). In addition, Eagle Strategies Financial Advisers will receive ½ Council Credits for each dollar of Financial Planning fees. For example, a fee of $1,000 will result in 500 Council Credits.

Due to the monthly crediting process for Eagle Legacy Advisory and Eagle ERISA Investment Manager Program Retirement Plans, there is a lag in timing for Council Credit purposes. Legacy accounts and ERISA plans managed with an advisory fee, and opened between 6/1/18 and 5/31/19, will receive Council Credits for the current Council year ending 6/30/19. Accounts opened, or new contributions received between 6/1/19 and 6/30/19 will count for the next council year. Council Credits for Eagle Lifetime Wealth Portfolios (LWP) Advisory Programs will be applied monthly. LWP accounts funded between 6/27/18 and 6/25/19 will receive Council Credits for the current Council year ending 6/30/19.

Eagle Council Credits will only be paid one time on funds in a given Council year. Money leaving an Eagle account that previously received Council Credits, will not be eligible for Eagle Council Credits again in that same council year as the original Council Credits were paid.

Sponsored Marketing Agreements

FYC from Crump Life Insurance Services, United Healthcare, Unum, Starmark and FYCs from our group health BGA’s, Benefitmall, and FNA (see the Sponsored Marketing Product Guide on Agency Portal for complete carrier and product details) count for Council Credits up to a maximum of 20% of the eligible Core credits, not to exceed $25,000.

For example:

FYC Council Credits

Core Credits $80,000 80,000

SMAs (excluding non-prop Mutual Funds) $20,000 16,000

Total $100,000 96,000

In this example, the agent earned $20,000 of FYC from SMAs. However, only $16,000 would count toward Council Credits, because 16,000 credits is 20% of the Core credits earned ($80,000). With a total of 96,000 credits, the agent would qualify for Executive Council.

Council President

The Council President will be the Agent (excluding former Council Presidents) who earns the highest amount of Officership Credits.

Council Vice President

The Council Vice President will be the Agent (excluding former Council Presidents) who earns the second-highest amount of Officership Credits.

Advisory Board of Directors

The Advisory Board of Directors will include the current Council President and all former Council Presidents who qualify for the 2019 Chairman’s Council

Chairman of the Advisory Board of Directors

The Chairman of the Advisory Board of Directors will be the member of the Board (excluding the current Council President) who earns the highest amount of Officership Credits.

Zone Council Officers

First Vice President: After selecting the Council President and Council Vice President, the Agent in each Zone (excluding former Council Presidents) who earns the highest amount of Officership Credits will be the First Vice President.

Second Vice President: After selecting the Council President and Council Vice President, the Agent in each Zone (excluding former Council Presidents) who earns the second highest amount of Officership Credits will be the Second Vice President.

Officership Requirements and Credit Calculation

Council Officership is awarded based on the following rules and is subject to the following conditions: Council Officership Credits are classified into three categories for credit calculation: Core (unlimited credit); Non-Core (one-for-one standard); and SMA (up to 20% of Core and non-Core credits combined, not to exceed 25,000).

Core Council Credits

FYC on all eligible New York Life proprietary Life, Investment Annuity, Guaranteed Lifetime Income and Long-Term Care products earned between July 1, 2018 and June 30, 2019 will be included in the Council Officer Credit calculation.

Non-Core Council Credits (One-for-One Standard)

Agents will receive credit on proprietary and proprietary Mutual Funds, proprietary and non-proprietary Group Annuities (401k and group retirement plans), compensation on new contributions into Eagle Strategies Advisory Programs, Auxiliary Recruiting and Development Credits (ARD) paid to the original nominating agent, and recruiting credits paid to Management Associates if they have an equivalent number of proprietary Life, Investment Annuity, Guaranteed Lifetime Income and Long-Term Care Council Credits.

The Council Officer Credits exclude:

• All bonus credits from programs such as the Case Rate bonus or MDRT bonus or any other council incentive bonus program.

▪ An agent must have a minimum of 36 months as an active full-time agent prior to the end of the current Council year to qualify as a National or Zone Council Officer. When counting the number of eligible months for Council Officership, the month the agent begins a break in service (e.g. time in management) is excluded, but the month the agent returns is included.

▪ Commissions on policies on the life of the Agent or any other Agent, or on the life of any of their family members (i.e. those related by blood, marriage, or law, and includes parents, brothers, sisters, spouse, significant other or children), will not count for the purposes of an agent qualifying for any National or Zone Council Officership.

Commissions on policies owned or controlled by an Agent will not count for the purposes of an agent qualifying for any National or Zone Council Officership.

▪ Satisfactory compliance review.

▪ Approval by Company Senior Management.

Council Meetings

Eligibility to Attend

All Chairman’s, President’s and Executive Council qualifiers are eligible to attend the Council Meeting of their Council level. By request, an agent may attend a Council Meeting of a lower Council level, rather than the one for which he or she qualified. However, Council qualifiers will likely derive the greatest educational value by attending the meeting for which they qualify. Therefore, requests to attend an alternate meeting are subject to review by Agency Department Senior Management.

Agents who enter management during the 2019 Council year must meet full Council Credit requirements to attend a Council Meeting. (Step-in rules are in effect where applicable; (see pages 2 and 3.) Management Associates also must meet the full requirements in accordance with their Management Associate Agreement.

The Subagent for a Corporate Agent with only one Subagent during the Council year, or an individual Business Agent, who qualifies for Council, will be eligible to attend a Council Meeting. A Corporate Agent (business entity) with more than one Subagent during the Council year may at that time be offered a set number of invitations for the Corporate Agent to distribute to the Subagent(s) as it determines to attend a Council Meeting after the close of that Council Year.

Other Council Benefits

Certificates of Membership

All members of the 2019 Councils will receive a Certificate of Membership.

Expense Allowance Council Incentive

Agents who qualify for Council are credited the following Expense Allowance incentive:

Chairman’s Council 8% President’s Council 6% Executive Council 4% Quality Council 2%

For the first two quarters of the calendar year, the Expense Allowance Council Incentive is based on the agent’s current Council status or his or her pro-rata Council status as of the prior quarter end, whichever is higher. In calendar quarters three and four, the Expense Allowance Council Incentive is based on the agent’s current Council status.

President's Council and Chairman's Council qualifiers may also be eligible for the Customer Commitment program by meeting the requirements published in the Field News dated 10/19/2015 titled ‘Customer Commitment’ Program Offers Significant Agent Incentives. Agents who qualify are credited a 25% increase in the Council Incentive rate (from 8% to 10% for Chairman's Council and from 6% to 7.5% for President's Council).

NYLIFE Securities Registered Products Gross Dealer Concession (GDC) Payout Grid

Agents who achieve certain levels of Council Credits receive an enhanced payout rate based on gross dealer concession (GDC), as shown below. Please refer to the information published on the NYLIFE Securities Compensation page on Agency Portal for the latest details on the application of this payout structure.

Prior Council Year’s GDC Total < 44,999 Credits* 45,000 + Credits* 68,000 + Credits* 152,000 + Credits* 262,000 + Credits* $0,000 to $24,749 35% 40% 50% 55% 60% $24,750 to $49,499 40% 45% 55% 60% 65% $49,500 to $65,999 45% 50% 60% 65% 70% $66,000 to $93,499 50% 55% 70% 75% 80% $93,500 to $142,999 55% 60% 75% 80% 85% > $143,000 60% 65% 80% 85% 90% *Based on your total Council Credits at the end of the prior

Council Year. A 20% reduction will be applied to the Council Credits of Lifetime Members of Council.

Eagle Strategies Financial Planning (FP) Fees Payout Grid

The FP grid allows Financial Advisers to achieve a higher payout on FP fees independent from their NYLIFE and Eagle Strategies GDC production. In addition, CC agents earning over $100,000 in FP Fees will be awarded a 5% payout increase on any marginal dollar earned exceeding $100,000. The payout thresholds below apply to all advisers, including Senior NYLICs.

FP Fee Payout Rates

Eagle FP Fees None QC EC PC CC

$0.00 - $30,000 75% 75% 75% 80% 85% $30,001 - $100,000 75% 75% 80% 85% 90% > $100,000 75% 80% 85% 90% 90%

Council Credit Tracking

Tracking

C

ENTURION

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ROGRAM

Agents will achieve Centurion status if they have a minimum of 100 paid Life cases for the period 7/1/18 to 6/30/19. There are two levels of Centurion:

The following step-in requirements will apply for 2019 Centurion qualification for agents contracted on or after January 1, 2015:

In order to qualify as a 2019 Centurion, an agent’s Whole Life first year lapse rate must be less than 20% as of February 28, 2019 for cases issued between November 1, 2017 and January 31, 2019. Please note in either scenario agents with fewer than 10 paid life cases in their lapse rate calculation will be exempt from having to meet the lapse rate requirement.

Case Count Calculation

▪ Each proprietary Life sale counts as one case (COLI and non-Retail BOLI cases are excluded). ▪ VPD (EWL) cases count 1:1.

▪ Family protection plan policies count 1:2. (One paid family protection plan equals two paid life cases.)

▪ Each non-proprietary Variable Life sale counts as one case.

Term Conversions

A Term policy fully converted within 12 months of the policy issue date will not receive an additional case count because the original Term policy received the case count. However, a Term policy converted after 12 months of the policy issue date will receive a case count for the new case.

Requirements

Premier Centurion 150 paid Life cases Centurion 100 paid Life cases

Requirements

Premier Centurion 100 paid Life cases Centurion 80 paid Life cases

P

RODUCTION

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REDIT

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ROGRAM

Qualifications & Benefits

Production credits are determined by the rules used to calculate Council Credits with one major exception: Non-proprietary Variable Life and Variable Annuity are combined with proprietary Variable Life and Variable Annuity in the calculations. As such when calculating Production Credits, the non-proprietary variable products are excluded from the SMA category and included in the Core category. As with the Council Credit program, Production Credits are classified into 2 categories for credit calculation: Core (unlimited credit); and SMA (up to 20% of Core credits, not to exceed 25,000). For example: FYC Council Credits Production Credits Core Credits $80,000 80,000 80,000 SMA Fixed $25,000 16,000 25,000

Non-Prop Variable (Core for production credits)

$53,000 --- 53,000

Total $158,000 96,000 158,000

In this example, the agent receives 16,000 Council Credits and 25,000 Production Credits from his or her SMA Fixed production, because they represent 20% of the Core credits earned (80,000 in Core Council Credits and 133,000 in Core Production Credits, respectively). He or she also receives 53,000 in Production Credits for Non-Prop Variable production. With a total of 96,000 Council Credits, the agent would qualify for membership in Executive Council. However, with 158,000 Production Credits, he or she would receive all the benefits of President’s Council.

Agents who qualify for Council based on Production Credits will receive all the benefits of the Council level for which they qualify (attendance at the meeting, travel expenses, Expense Allowance Council Incentive and enhanced Mutual Fund payout). However, Production Credits do not count toward official Council membership and recognition.

In the following example, the agent earns Production Credits from both SMA Fixed and Non-Prop Variable production: FYC Council Credits Production Credits Core Credits $180,000 180,000 180,000 SMA Fixed $15,000 15,000 15,000

Non-Prop Variable (Core for production credits)

$80,000 10,000 80,000

Total $275,000 205,000 275,000

A

WARDS

&

R

ECOGNITION AT

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OUNCIL

Council qualification is the culmination of a successful year and provides the opportunity to attend one of the most professionally rewarding and personally satisfying events: A Council Meeting. At this annual event, the Company honors the agents who have excelled in their performance and achieved distinction in their New York Life careers by presenting them with the following awards:

Awards

Council Credit Leader

Presented to the top-producing member of the President’s Council and Executive Council who earns the highest amount of Council Credits during the Council year. There will be one Executive Council Credit Leader for each Zone.

Chairman’s Council New Organization Leader

Presented to the top-producing New Organization member of the Chairman’s Council who earns the highest amount of Council Credits during the Council year. The Agent must have been appointed under a TAS contract on January 1, 2015 or later to be eligible.

Life Production Leader

Presented to the top-producing agent of each Council who earns the highest amount of Council Credits for proprietary Life products during the Council year. There will be one Executive Council Life production leader for each Zone.

Guaranteed Lifetime Income Insurance Production Leader (GLI)

Presented to the top-producing agent of each Council who earns the highest amount of Council Credits for proprietary GLI insurance products during the Council year. There will be one Executive Council GLI production leader for each Zone.

Investment Annuity Production Leader

Presented to the top-producing agent of each Council who earns the highest amount of Council Credits for proprietary annuity investment products during the Council year. There will be one Executive Council Investment Annuity production leader for each Zone.

Long-Term Care Production Leader (LTC)

Presented to the top-producing agent of each Council who earns the highest amount of Council Credits for proprietary LTC products during the Council year. There will be one Executive Council LTC production leader for each Zone.

Mutual Funds Production Leader

Presented to the top-producing agent of each Council who earns the highest amount of Council Credits for proprietary mutual funds products during the Council year. There will be one Executive Council Mutual Funds production leader for each Zone.

10_{The Company reserves the right to deny an Award to an otherwise qualifying agent whose personal or business}

conduct, in the Company’s judgment, may adversely affect the good standing and reputation of New York Life or its subsidiaries.

Leading Life Case Producer11

Presented to the top-producing agent of each Council for each Zone who had the highest number of Life Paid Cases during the Council year.

Ben Feldman Life Award of Excellence

Presented to the top-producing agent of each Council with the highest amount of new Life premium paid during the Council year. There will be one Executive Council Ben Feldman Award winner for each Zone. Single premiums are discounted on a 10:1 basis.

AAC Triple Crown Award

Presented to the six leading agents in the Company (three Established and three New Org, determined as of June 30th_{) who have paid for a minimum number of Life, Guaranteed Lifetime Income (GLI) and}

Long-Term Care cases within the qualifying Council year. Refer to page 5 for Case Count Calculation. Following are the minimum cases required to qualify:

Cases Established Agents New Org Agents

Life Insurance 50 35

GLI 5 3

Long-Term Care Insurance 5 3

Recognition

Chairman’s Cabinet Hall of Fame Plaque

Presented to agents who have qualified for membership in the Chairman’s Cabinet for 10 years.

Chairman’s Cabinet 20 Year Membership Award

Presented to agents who have qualified for membership in the Chairman’s Cabinet for 20 years.

30 Year Chairman’s Council Diamond Pin

Presented to agents who have qualified for membership in the Chairman’s Council for 30 years.

40 Year Chairman’s Council Hall of Fame Plaque

Presented to agents who have qualified for membership in the Chairman’s Council for 40 years.

50th _{Council Qualification Award}

Presented to agents who have qualified for membership in any Council for 50 years.

Council Life Member Ring

Presented to agents who have qualified for Council Life Membership (see page 3).

New Members of the Council Bracelet / Tie Tack

Presented to first time Council qualifiers for achievement of their highest Council qualification.

11 _{In order to qualify for the Leading Life Case Producer Award an agent’s Whole Life first year lapse rate must}