Common use of SUBSTITUTION AND CHANGE Clause in Contracts

SUBSTITUTION AND CHANGE. Pursuant to a vote of the Owners of variable annuity contracts having an interest in a Division or as otherwise permitted by applicable insurance and securities law, a substitution or change may be made as follows: - the assets of the Division may be invested in securities other than shares of the Portfolio(s) as a substitute for those shares already purchased or as the securities to be purchased in the future; - the Separate Account, or a Division, may be operated as a management company under the Investment Company Act of 1940, or in any other form permitted by law, if deemed by the Company to be in the best interests of the contract Owners; - the Separate Account may be deregistered under the Investment Company Act of 1940 in the event registration is no longer required; or - the provisions of the contracts may be modified to comply with any other applicable federal or state laws. In the event of a substitution or change, the Company may make appropriate endorsement on this and other contracts having an interest in the Separate Account and take other actions as may be necessary to effect the substitution or change.

SUBSTITUTION AND CHANGE. Pursuant to a vote of the Owners of variable annuity contracts having an interest in a Division or as otherwise permitted by applicable insurance and securities law, a substitution or change may be made as follows: - • the assets of the Division may be invested in securities other than shares of the Portfolio(s) as a substitute for those shares already purchased or as the securities to be purchased in the future; - • the Separate Account, or a Division, may be operated as a management company under the Investment Company Act of 1940, or in any other form permitted by law, if deemed by the Company to be in the best interests of the contract Owners; - • the Separate Account may be deregistered under the Investment Company Act of 1940 in the event registration is no longer required; or - • the provisions of the contracts may be modified to comply with any other applicable federal or state laws. In the event of a substitution or change, the Company may make appropriate endorsement on this and other contracts having an interest in the Separate Account and take other actions as may be necessary to effect the substitution or change.. QQV.ACCT.B

SUBSTITUTION AND CHANGE. Pursuant to a vote of the Owners of variable annuity contracts having an interest in a Division or as otherwise permitted by applicable insurance and securities law, a substitution or change may be made as follows: - the assets of the Division may be invested in securities other than shares of the Portfolio(s) as a substitute for those shares already purchased or as the securities to be purchased in the future; - the Separate Account, or a Division, may be operated as a management company under the Investment Company Act of 1940, or in any other form permitted by law, if deemed by the Company to be in the best interests of the contract Owners; - the Separate Account may be deregistered under the Investment Company Act of 1940 in the event registration is no longer required; or - the provisions provision of the contracts may be modified to comply with any other applicable federal or state laws. In the event of a substitution or change, the Company may make appropriate endorsement on this and other contracts having an interest in the Separate Account and take other actions as may be necessary to effect the substitution or change.

SUBSTITUTION AND CHANGE. Pursuant to a vote of the Owners of variable annuity contracts having an interest in a Division or as otherwise permitted by applicable insurance and securities law, a substitution or change may be made as follows: - • the assets of the Division may be invested in securities other than shares of the Portfolio(s) as a substitute for those shares already purchased or as the securities to be purchased in the future; - • the Separate Account, or a Division, may be operated as a management company under the Investment lnvestment Company Act of 1940, or in any other form permitted by law, if deemed by the Company to be in the best interests of the contract Owners; - • the Separate Account may be deregistered under the Investment lnvestment Company Act of 1940 in the event registration is no longer required; or - • the provisions of the contracts may be modified to comply with any other applicable federal or state laws. In the event of a substitution or change, the Company may make appropriate endorsement on this and other contracts having an interest in the Separate Account and take other actions as may be necessary to effect the substitution or change.. QQV.ACCT.B