Exhibit 10.5
July 16, 2026
Laura Prieskorn
DearLaura:
This letter confirms the terms of your continued employment with Jackson National Life Insurance Company (“Company”)andassociationwithJacksonFinancialInc.(“JFI”)anditssubsidiariesfollowingyourtransitionfrom ChiefFinancialOfficerand President toaSeniorAdvisorpositionwiththeCompany.Yourposition as Chief Executive Officer and President will end on September 30, 2026, and your newrole as Senior Advisor will be effective October 1, 2026, subject to the terms and conditions that appear below. No other agreements regarding your transition to and compensation as a Senior Advisor with the Company exist, expressed or implied.
•YourdesignationasaSection16officerofJFIandanexecutive officerofJFIanditssubsidiarieswillend on September 30, 2026 at 11:59 pm ET effective prior to your transition to Senior Advisor on October 1, 2026. You agree to cooperate with JFI and the Company and take any and all steps necessary to effectuate termination of your Section 16 status and resignation from your roles with JFI and its subsidiaries. As Senior Advisor, you remain an at‐will associate of the Company and may terminate your employment at any time, with or without notice. Similarly, the Company may terminate your employment at any time, with or without notice or cause.
•Your salary will be one hundred four thousand one hundred sixty‐seven dollars ($104,167) per month, subject to normal tax withholding, until your employment ceases. You will remain eligible to participate in the Company’s 401(k) plan, nonqualified deferred compensation plan, PTO, and the fringe, health and welfare benefit plans that are available to similarly situated full‐timeassociates,subject to the terms and conditionsof the applicable plan documents.Continuing eligibility under these programs may be impacted over time as transition needs and/or your work schedule decrease.
•You will be ineligible to accrue or receive an annual bonus for services performed as Senior Advisor on andafterOctober 1, 2026.Youwillalsobeineligibleto(1)receiveadditionalgrantsundertheJacksonFinancialInc. 2021 Omnibus Incentive Plan (“OIP”), and (2) participate in, accrue, or receive cash remuneration under the Jackson Financial Inc. Severance Plan (“Severance Plan”). It is understood and agreed that your voluntary transition to Senior Advisor on October 1, 2026 and related changes do not constitute Good Reason under the Severance Plan or under the OIP and associated award agreements.
•You will report to Don Cummings, who is anticipated to begin the role of Chief Executive Officer and President on October 1, 2026.
•Balances undertheJacksonNationalLifeInsuranceCompanyManagement Deferred Income Plan will be handled in the normal course based upon plan terms, payment elections, and the legal requirements applicable to those deferrals.
Thank you for your continued service to Jackson. Please contact me with any questions regarding the foregoing.
Sincerely,
/s/ Tom Janda
Tom Janda
SVP,ChiefHumanResourcesOfficer
Iagreetotheabovetermsandconditions:/s/ Laura Prieskorn 7/17/26
Laura Prieskorn Date