FIRST INVESTORS CORPORATION
PLAN CERTIFICATE
PLANHOLDER ACCOUNT NO.
UNDERLYING SHARES
PERIODIC PAYMENT PERIOD AMOUNT RECEIVED TO OPEN
ACCOUNT
TOTAL AGREED PAYMENTS AMOUNT OF SUBSEQUENT PERIODIC
MONTHLY PAYMENT
PROSPECTUS DATE PLAN ISSUE DATE
This Plan Certificate represents an agreement between First Investors
Corporation, a New York Corporation (the "Sponsor"), and the Planholder named
above and evidences the Planholder's interest in the unit investment trust (the
"Plan") described in the Prospectus attached hereto.
The Planholder by execution of a Plan Application (the "Application") which has
been accepted by the Sponsor and by payment of the amount specified above,
receipt of which is hereby acknowledged by the Sponsor, has agreed to
participate in the Plan.
The Plan is governed by the terms and provisions herein and on the reverse
hereof, and by the terms and provisions stated in: (a) the Application, a copy
of which is attached, (b) the currently effective prospectus hereto attached,
and (c) the Custodian Agreement between the Sponsor and the Custodian, Irving
Trust Company, through the date of this Plan, relating to the type and series of
Plan specified above, all of which terms and provisions are incorporated herein
by reference as if set forth in full in this instrument. The Sponsor may modify
the privileges, terms and conditions of the Plan provided, however, that no such
modification may be made which affects the Planholder adversely without his
written consent, and further provided, that where any such modification affects
the functions of the Custodian, its approval thereof is required. The terms of
the Plan and this Plan Certificate shall become binding and effective upon the
Planholder and the Sponsor on the date hereof.
IN WITNESS WHEREOF, The Sponsor has caused this Plan to be duly executed.
_________________________ ___________________________
Authorized Signature Executive Vice President
(Facsimile Signature)
First Investors Logo
PRIVILEGES, TERMS AND CONDITIONS
The Plan Certificate is issued subject to the following privileges, terms and
conditions, which shall in all respects be construed as part thereof:
I. DEPOSITS AND DEDUCTIONS: The Planholder authorizes and directs the
Sponsor or its designee to deposit the Planholder's payment(s), arrange for the
receipt by the Custodian of dividend and capital gains distributions in an
account or accounts maintained for the unit investment trust by the Custodian
and to instruct the Custodian to deduct and pay therefrom such deductions as the
Sponsor directs as specified in the Application, Prospectus and the Plan
Certificate.
II. DISTRIBUTIONS: The Planholder authorizes and directs the Sponsor or its
designee to arrange for deposit with the Custodian of all cash dividends and
capital gains distributions, if any, upon his Shares, and unless the Planholder
otherwise directs in writing, to apply such dividends and capital gains
distributions, after making authorized deductions, if any, to purchase of
additional Shares. Optional dividends and capital gains distributions are to be
accepted in additional Shares at net asset value, unless the Planholder
otherwise directs in writing. Any distributions in form other than cash or
Shares shall be sold by or at the direction of the Sponsor at such prices as it
may be able to realize therefor and the net proceeds applied to the purchase of
additional Shares at net asset value. All additional Shares shall be added to
those held for the Planholder by the Custodian.
III. REFUND PRIVILEGES: As required by the Investment Company Act of 1940,
as amended, Planholder has such refund privileges as are set forth in detail
under the heading "Refund Privileges" in the Prospectus.
IV. PURCHASE AND SALE OF SHARES: The Planholder authorizes and directs the
Sponsor to arrange for purchase with his payment(s), less authorized deductions,
the Shares and necessary fractions thereof for his account at net asset value
determined as of the close of the New York Stock Exchange on the day such
payments are received by the Sponsor for deposit to the Custodian's account. In
the case of reinvestment of income dividends and capital gains distributions,
the reinvestment is to be at net asset value determined as of the close of the
New York Stock Exchange on the date designated by the Fund and the reinvestment
date. Whenever Shares are authorized to be sold or redeemed under the terms of
this Plan, the Sponsor shall arrange for the sale or redemption of the same
promptly at the net asset value next determined. (See "Method of Selling Shares
in the Event of Partial Liquidation or Complete Termination" in the attached
Prospectus).
V. OTHER TERMS AND CONDITIONS OF THE CUSTODIANSHIP: The Custodian shall
retain possession of the assets of the Plan deposited with it and shall pay out
such assets upon the written instructions of the Sponsor. The Custodian is
authorized to maintain an account or accounts for the receipt, and transmission
to the Custodian of the Planholder's payment(s) in any depository institution
complying with requirements set forth by the applicable provisions of the
Investment Company Act of 1940, as amended, provided that such depository
institution is acceptable to the Sponsor. The Custodian is authorized to
commingle the Planholder's payment(s) and dividends and capital gains
distributions with the payment(s) and dividends and capital gains distributions
of other Planholders in this Plan only, and the Custodian may deposit such funds
in a general account in its own banking department and accept deposits from such
other accounts as are provided for herein and in the Custodian Agreement. The
Custodian is authorized to commingle any and all Shares purchased for the
Planholder with Xxxxxx purchased for others in this Plan and to cause said
Shares to be registered in its name as Custodian or in the name of its nominee
or nominees. The Custodian shall keep all such payments, dividends,
distributions and certificates for Shares separate and apart from its own
corporate assets but shall have no obligation to establish or maintain separate
share or payment balances or accounts for any Planholder. All cash items,
Shares, other assets and property of the Custodianship shall be held by the
Custodian and shall be disbursed only as instructed by the Sponsor or its
designee provided, however, that if the Custodian is not otherwise remunerated
therefor, it may charge against and collect from the income of the Plan, and
from the assets thereof, if no income is available, such fees for its services
and such reimbursement for its expenses as are set forth in the Prospectus and
further provided, that no such charge or collection shall be made except for
services theretofore performed or expenses theretofore incurred.
The Sponsor shall keep records showing the number of payment(s) made by the
Planholder, all deductions from payment(s) and other assets and income of the
Plan and the number of Shares purchased with the net amount of all payment(s) or
reinvested dividends and capital gains distributions, the number of Shares sold
or withdrawn, and the number of Shares which from time to time are owned by the
Planholder hereunder. The duties and obligations of the Sponsor under the
Custodian Agreement, as amended, and as generally set forth herein may be
performed by its designee.
The Custodian's duties and obligations are limited to holding the assets of
the Plans and disbursing such assets in accordance with the instructions of the
Sponsor.
VI. ASSIGNMENTS TO SECURE LOANS: The Planholder may assign this Plan and
the Shares held hereunder to a bank or other loan
institution (the Lender) as security for a loan. No such assignment will be
binding upon the Sponsor unless the Lender gives the Sponsor written notice that
the assignment has been released, the Lender will have the sole right to
exercise the Planholder's rights of partial or complete liquidation or
withdrawal. Such assignments may only be made to banks and other loan
institutions.
VI. TERMINATION: The Sponsor may not terminate the Planholder's interest in
the Plan for a period of twenty years from the date hereof (twenty-five years,
if this is a 15-year Periodic Payment Plan), except in certain limited instances
involving (1) delinquency in making periodic payments or (2) failure to approve
the acquisition of substituted Shares proposed by the Sponsor, all of which are
more fully set forth in the attached Prospectus. Until the Planholder's interest
in the Plan is terminated, the Custodian may not terminate its obligation to
hold in custody the assets of the Plan which are represented by this Plan
Certificate unless a successor Custodian has been designated and has accepted
the custody of the assets of the Plan.
FOR OTHER PROVISIONS AND RIGHTS OF THE PLANHOLDER RELATING TO VOTING RIGHTS,
REMITTANCE OF DIVIDENDS, PARTIAL OR COMPLETE WITHDRAWALS, TAXES, SUBSTITUTION,
SPECIAL ADMINISTRATIVE SERVICES, AND TO INSURANCE, DEFAULT, AND ACCELERATION OF
PAYMENTS (PERIODIC PAYMENT PLANS ONLY), REFERENCE IS MADE TO THE ATTACHED
PROSPECTUS. SUCH PROVISIONS SHALL IN ALL RESPECTS BE CONSTRUED AS PART OF THIS
PLAN CERTIFICATE, EXCEPT THAT IF THE PLAN IS ONE WITHOUT INSURANCE, SUCH
INSURANCE PROVISIONS SHALL NOT APPLY. A COPY OF THE CUSTODIAN AGREEMENT IS ON
FILE AT THE PRINCIPAL BUSINESS OFFICE OF THE SPONSOR AND MAY BE INSPECTED BY ANY
REGISTERED PLANHOLDER DURING THE USUAL BUSINESS HOURS OF THE SPONSOR.
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