Common use of Surrender Fee Clause in Contracts

Surrender Fee. For each surrender from an Individual Account, the Surrender Fee will vary according to the number of Purchase Payment Cycles completed for the Contract. The number and amount of Purchase Payments to be made in a year is chosen by the Contract Holder. A Purchase Payment Cycle is completed when this number and amount of Purchase Payments have been made. The number of Purchase Payment Cycles completed may not be greater than the number of whole years since the Contract was established. For each surrender, the Fee will be as follows: Number of Purchase Payment Cycles Completed Surrender Fee Less than 5 5% 5 or more but less than 7 4% 7 or more but less than 9 3% 9 or more 2% No Surrender Fee is deducted from any portion of the Individual Account which is paid: (1) At the death of a Participant before Annuity payments start; or (2) As a premium for an Annuity for a Participant under this Contract; or (3) After a Participant has reached age 59 1/2 and 9 or more Purchase Payment Cycles have been completed on behalf of the Participant.

Surrender Fee. For each surrender from an Individual Accountsurrender, the Surrender Fee will vary according to the number of Purchase Payment Cycles completed for the Contractcompleted. The number and amount of Purchase Payments to be made in a year is chosen by the Contract Holder. A Purchase Payment Cycle is completed when this number and amount of Purchase Payments have been made. The number of Purchase Payment Cycles completed may not be greater than the number of whole years since the Contract was establishedissued. For each surrender, the Fee will be as follows: Number of Purchase Payment Cycles Completed Surrender Fee Less than 5 5% 5 or more but less than 7 4% 7 or more but less than 9 3% 9 or more 2% No Surrender Fee is deducted from any portion of the Individual Account Current Value which is paid: (1a) At the death of a Participant the Annuitant before Annuity payments start; or (2b) As a premium for an Annuity for a Participant under this Contract; or (3c) After a Participant the Annuitant has reached age 59 1/2 and 9 or more Purchase Payment Cycles have been completed on behalf of the Participantcompleted.

Surrender Fee. For each surrender from an Individual Accountsurrender, the Surrender Fee will vary according to the number of Purchase Payment Cycles completed for the Contractcompleted. The number and amount of Purchase Payments to be made in a year is chosen by the Contract Holder. A Purchase Payment Cycle is completed when this number and amount of Purchase Payments have been made. The number of Purchase Payment Cycles completed may not be greater than the number of whole years since the Contract was establishedissued. For each surrender, the Fee will be as follows: Number of Purchase Payment Cycles Completed Surrender Fee Less than 5 5% 5 or more but less than 7 4% 7 or more but less than 9 3% 9 or more 2% No Surrender Fee is deducted from any portion of the Individual Account Current Value which is paid: (1a) At the death of a Participant the Annuitant before Annuity payments start; or (2b) As a premium for an Annuity for a Participant under this Contract; or (3c) After a Participant the Annuitant has reached age 59 1/2 and 1/2and 9 or more Purchase Payment Cycles have been completed on behalf of the Participantcompleted.