Common use of Net Return Clause in Contracts

Net Return. Factor for Each Valuation Period - The value of an Accumulation Unit for any Valuation Period is calculated by multiplying the Accumulation Unit value for the immediately preceding Valuation Period by the net return factor of the appropriate Fund for the current period. The net return factor for each Fund is equal to 1.0000000 plus the net return rate. The net return rate equals: (a) The value of the shares of the Fund held by the Separate Account at the end of a Valuation Period; minus