Case4:12-cv CW Document150-1 Filed11/19/13 Page1 of 5 UNITED STATES DISTRICT COURT NORTHERN DISTRICT OF CALIFORNIA OAKLAND DIVISION

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1 Case4:12-cv CW Document150-1 Filed11/19/13 Page1 of 5 UNITED STATES DISTRICT COURT NORTHERN DISTRICT OF CALIFORNIA OAKLAND DIVISION NANCY MEADOWS, as Trustee of the Estate of Maxine Derry, and RUSSEL HEMAN, individually and on behalf of themselves and all others similarly situated, vs. Plaintiffs, JACKSON NATIONAL LIFE INSURANCE COMPANY, a Michigan corporation, Defendant. Case No. C Hon. Claudia Wilken NOTICE OF PROPOSED CLASS ACTION SETTLEMENT YOU ARE NOT BEING SUED. PLEASE READ THIS NOTICE CAREFULLY BECAUSE IT MAY AFFECT YOUR RIGHTS IN A LAWSUIT. 1. WHY YOU ARE RECEIVING THIS NOTICE You are receiving this notice because you may be eligible for benefits because of the settlement of a class action lawsuit. The lawsuit was filed against Jackson National Life Insurance Company ( Jackson in federal court. The lawsuit claims that the cover pages of Jackson s fixed and fixed index annuities issued in California to persons age 60 and older did not provide all disclosures about surrender charges required by California law. The Court directed that the parties send you this Class Notice. If the Court approves the Settlement, Jackson will provide the full Settlement Benefits provided for in the approved Settlement. This Notice explains the Action, the Settlement, your legal rights, what Settlement Benefits are available, who is eligible for them, and how to get them. 2. WHAT IS A CLASS ACTION? A class action is a kind of lawsuit. In a class action, the rights of a large group of people are decided in one court proceeding. Representative plaintiffs known as Class Representatives assert claims on behalf of the entire group, or class.

C 12-1380 Hon. Claudia Wilken NOTICE OF PROPOSED CLASS ACTION SETTLEMENT YOU ARE NOT BEING SUED. PLEASE READ THIS NOTICE CAREFULLY BECAUSE IT MAY AFFECT YOUR RIGHTS IN A LAWSUIT. 1. WHY YOU ARE RECEIVING THIS NOTICE You are receiving this notice because you may be eligible for benefits because of the settlement of a class action lawsuit.

2 Case4:12-cv CW Document150-1 Filed11/19/13 Page2 of 5 3. WHO IS IN THE CLASS? You are in the class if you bought a fixed or fixed index annuity from Jackson in California during the period beginning October 24, 2002 and ending January 12, 2012 and were at least 60 years old at the time of the purchase. Based on Jackson s records, you have been identified as a possible member of the class. 4. DESCRIPTION OF THE LAWSUIT Maxine Derry and Russel Heman brought the lawsuit on their own behalf and as Class Representatives. They claim the cover pages of the fixed and fixed index annuities Jackson issued in California to people age 60 and older did not provide the disclosures about surrender charges that are required by California law. Jackson believes that its annuities contained the required disclosures and that it did nothing wrong but is willing to settle the case to avoid the costs of lengthy and burdensome litigation. 5. THE PROPOSED SETTLEMENT After extensive negotiations, the parties have agreed to settle the case. Under the proposed settlement, Jackson has agreed to make a one-time payment to Class Members equal to 22% of the surrender charges (if any each incurred with respect to a Class Member Policy and to reduce any future surrender charges with respect to Class Member Policies by 22%. Jackson has also agreed to pay for all costs of administering the settlement. Class Members who surrendered their Jackson policy and incurred a surrender charge, will automatically receive a check refunding 22% of the surrender charge. 6. WHO REPRESENTS THE CLASS? The Court has appointed Russel Heman and Nancy Meadows, as Trustee of the Estate of Maxine Derry, as the Class Representatives. The Court has also appointed the following lawyers as Class Counsel: Howard D. Finkelstein Andrew S. Friedman Jeffrey R. Krinsk Kimberly C. Page Mark L. Knutson Patricia N. Syverson C. Michael Plavi, II Bonnett, Fairbourn Friedman & Balint, P.C. Finkelstein & Krinsk LLP 2325 E. Camelback Road, Suite # West Broadway, #1250 Phoenix, AZ San Diego, CA ( (

the time of the purchase. Based on Jackson s records, you have been identified as a possible member of the class. 4.

3 Case4:12-cv CW Document150-1 Filed11/19/13 Page3 of 5 Stephen R. Basser Theodore J. Pintar Barrack, Rodos & Bacine Steven M. Jodlowski One America Plaza Robbins Geller Rudman & Dowd LLP 600 West Broadway, Suite # West Broadway, Suite #1900 San Diego, CA San Diego, CA ( ( Ingrid M. Evans Elliot Wong Evans Law Firm, Inc Fillmore Street, #236 San Francisco, CA ( These lawyers represent your interest in the lawsuit. You will not be charged for their services. But you can hire your own attorney at your own expense to advise you if you wish. 7. LEGAL EFFECT OF THE SETTLEMENT (RELEASE OF CLAIMS The settlement provides for a release of claims against Jackson. Specifically, if the settlement is approved, Plaintiff and each Class Member (except Class Members who have excluded themselves from the Settlement Class, as described in the next section will release Jackson and related persons and entities from all claims that involve Jackson s disclosure of surrender charges and other related claims. 8. OPTING OUT OF THE CLASS If you want to exclude yourself from the Settlement Class, you must submit a written request for exclusion that includes your name and current address and telephone number. Your request must contain a signed statement to the following effect: I request to be excluded from the Settlement Class in the Derry lawsuit. Please also include your policy number and the last four digits of your Social Security number. Requests for exclusion must be mailed to Jackson at the address listed below and must be postmarked by March 20, DO NOT REQUEST EXCLUSION IF YOU WANT TO PARTICIPATE IN THE SETTLEMENT AND POTENTIALLY RECEIVE BENEFITS FROM THE SETTLEMENT. The exclusion request should be addressed as follows: Derry Settlement Jackson National Life Insurance Company P.O. Box Lansing, MI If you opt out of the Settlement Class, you will not be eligible for any settlement benefits and will not be bound by any judgment or release in the lawsuit. 3

Evans Elliot Wong Evans Law Firm, Inc. 3053 Fillmore Street, #236 San Francisco, CA 94123 (415 441-8669 These lawyers represent your interest in the lawsuit.

4 Case4:12-cv CW Document150-1 Filed11/19/13 Page4 of 5 9. OBJECTING TO THE SETTLEMENT If you are a Settlement Class Member, and if you think the proposed settlement is unfair, you have the right to object to the settlement. Any objection must be in writing and must be filed with the Court. All objections must be filed electronically through the Court s electronic case filing system or postmarked on or before March 20, If you mail an objection to the Court, this is the address: Clerk of Court U.S. District Court for the Northern District of California 1301 Clay Street Oakland, CA If you file an objection to the settlement, the objection must include: (1 the title of the case, Derry v. Jackson National Life Insurance Co., Case No. C ; (2 your name, address, and telephone number; (3 the approximate date when you bought a fixed or fixed index annuity from Jackson; (4 all legal and factual bases for any objection; and (5 copies of any documents that you want the Court to consider. If you intend to appear at the fairness hearing (described in the next section below, you must file with the Court and send to all lawyers listed below a notice of intention to appear at the hearing by the objection deadline. If you do not provide a timely notice of intention to appear, or if you do not file a timely objection, the Court may decide that you have waived any objection to the settlement. 10. THE FAIRNESS HEARING The Court has scheduled a hearing for Thursday, April 17, 2014 at 2:00 p.m., in the United States District Court, Courtroom 2, 1301 Clay Street, Oakland, CA The hearing will address whether the proposed settlement is fair, reasonable, and adequate and whether the Court should approve it. The hearing date is subject to change. Please check for any change in the hearing date. If the hearing date changes, no separate notice of that change will be mailed. You may attend the settlement hearing if you wish. If you intend to appear personally or through your lawyer at the hearing, you must include a notice of intent to appear in addition to your objection and file it with the Court. 11. WHO IS RESPONSIBLE FOR ATTORNEY S FEES? Subject to Court approval, Jackson will pay up to $3,080,000 to Class Counsel in payment for their time, effort and expenses. This payment will not affect any benefits to be paid to the Settlement Class. Class Counsel will file papers explaining why they believe this payment is fair and reasonable on or before February 27, You can review those papers at once they are filed. 4

Any objection must be in writing and must be filed with the Court.

5 Case4:12-cv CW Document150-1 Filed11/19/13 Page5 of ADDITIONAL INFORMATION This notice is a summary of the lawsuit and the proposed settlement. You may inspect the pleadings and other papers (including the Settlement Agreement in this lawsuit at the offices of the Clerk of the Court, 450 Golden Gate Avenue, San Francisco, CA You can also review the Settlement Agreement and related documents at If you have any questions about this notice or the proposed settlement, you may contact Class Counsel at the address and phone numbers listed above. DO NOT CONTACT THE COURT OR JACKSON OR JACKSON S COUNSEL FOR INFORMATION. 5

San Francisco, CA 94102. You can also review the Settlement Agreement and related documents at www.derryclassaction.com.

If You Purchased StarKist Tuna, You May Benefit From A Proposed Class Action Settlement

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