ENDORSEMENT
Upon receipt, this Endorsement is attached to and made part of your Group
Annuity Contract.
Between AXA Equitable Life Insurance Company ("AXA Equitable") and the Contract
Holder.
For Employers and Employer Plan Trustees participating in the Contract, IT IS
HEREBY AGREED that said contract is amended, effective upon receipt, as follows:
"PART XI" "UNALLOCATED ACCOUNT" is added to the Contract:
SECTION 11.01 UNALLOCATED ACCOUNT
Subject to the conditions set forth in this section, when we receive a
Contribution from the Employer without instructions for allocation to an account
for which a Participant has enrolled in accordance with our rules, the amount
contributed will be credited as one lump sum to the Plan's Unallocated Account.
When we receive cash transferred from prior funding vehicles, the transferred
amount will be credited as one lump sum to the Plan's Unallocated Account. Any
amount held in the Plan Unallocated Account becomes part of our Guaranteed
Interest Option and will be credited with interest at the rate applicable to
amounts held in the Guaranteed Interest Option. The transferred amount will
remain in the Plan Unallocated Account until we have received all the
information we require, including properly completed forms, to effect a transfer
from the Plan Unallocated Account to a Participant account. With respect to each
Participant, we will allocate amounts to each Participant's account only after
the Employer provides instructions that are acceptable and necessary in order to
complete the allocation process. We reserve the right to limit the period during
which such instructions may be received to no more than 10 days from the initial
transfer into the Plan Unallocated Account and to return funds to the Employer
for which transfer information has not been timely received in good order. Under
no circumstances will we be required to transfer to Participant accounts an
amount in aggregate greater than the amount deposited by the Employer plus such
interest as we credited to the Unallocated Account, unless otherwise expressly
agreed upon between the Employer and us.
The Employer is solely responsible for effectuating the asset transfer in
accordance with all applicable laws and regulations.
For purposes of this section of the Contract, we will not accept any rollover
amounts described in section 403(b)(8) of the Code from the employee to be
deposited into the Unallocated Account. Once the employee becomes a Participant
such amount can be rolled over directly into the Participant's Investment
Options.
AXA EQUITABLE LIFE INSURANCE COMPANY
/s/ Xxxxxxxxxxx X. Xxxxxxx /s/ Xxxxxxx Xxxxxxx
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Xxxxxxxxxxx X. Xxxxxxx Xxxxxxx Xxxxxxx
Chairman, President Senior Vice President,
and Chief Executive Officer Secretary and Associate
General Counsel
2005EN-NJACT (UNALLOCATED ACCOUNT)