Tiaa Cref Master Agreement

Our subsidiary Teachers Advisors, LLC (TAL) acts as an investment manager for the assets of the separate accounts SVSA-1, SVSA-2 and SVSA-3, pursuant to an investment management agreement. TAL is authorized, under certain investment guidelines, to invest the assets of separate accounts. In return for the securities management services provided by TAL, we pay a fee per calendar quarter to TAL based on the total market value of each asset and reimburse TAL for all costs related to the performance of its services. We do not have any employees at the moment. Our operational needs are provided by TIAA and some of its direct and indirect subsidiaries 100% in accordance with various service agreements, investment management, management, sales and distribution or by external service providers under separate agreements. In accordance with the agreements with TIAA and its subsidiaries, we reimburse TIAA (and TIAA reimburses its respective subsidiaries) certain costs related to the provision of these services. We believe that this is how these services will be delivered in the most efficient way to meet our operational requirements, thus avoiding the double cost between us, TIAA and its subsidiaries. The contracts are offered by TIAA-CREF Individual – Institutional Services, LLC (TC Services), a wholly owned subsidiary of TIAA. TC Services is registered with the SEC as a broker and member of FINRA. TC Services may also enter into sales agreements with related companies or with third parties to distribute contracts. TC Services may be considered the primary insurer for The Shares of the Contract. Anyone who markets the contracts must be a registered representative of TC Services or have entered into a sales contract with TC Services.

TC Services` main locations are located at 730 3rd Avenue, New York, NY 10017-3206. As far as the allocation of contracts is concerned, no commission is paid while the company does not have offices. Our operations are conducted at facilities owned or leased by TIAA in New York, North Carolina and several other states, pursuant to a business-to-business service agreement between the two companies. With the exception of the agreements described below, there have been no transactions between TIAA Life and a related person since January 1, 2016 and no transactions with such a related person are contemplated for which disclosure would be required. The contract and the completed application are the entire contractual agreement between you and TIAA Life. We distort the contract in exchange for your completed application and the first premium. Any approval or modification of the contract or waiver of any of its provisions is valid only if it has been signed in writing and by a director or registrar of TIAA Life. All benefits must be paid in our Home Office at 730 3rd Avenue, New York, NY 10017-3206 or in our administrative office.

We have a financial support agreement with TIAA. As part of this agreement, TIAA will provide assistance to ensure that we have more capital and a larger surplus of (a) USD 250.0 million, b) the amount of capital and surplus needed to maintain our capital and surplus at or above 150% of the National Association of Insurance Commissioners( NAIC) venture capital model. , or (c) which is necessary to maintain our financial capacity of nationally recognized rating agencies at at least the same level as TIAAs. Ratings at all times.