Additional Option definition

Additional Option means an Option granted to an Optionee to purchase a number of shares of Common Stock equal to the number of shares of Common Stock tendered or relinquished by the Optionee in payment of the exercise price upon exercise of the Option and/or the number of shares of Common Stock tendered or relinquished in payment of the amount required to be withheld under applicable federal, state and local income tax laws in connection with the exercise of the Option as described in Article V.

Additional Option means any Option other than an Initial Option.

Additional Option. The Contract Value, less applicable premium tax, may be used to purchase any annuity contract that we offer on the date this option is elected. Minimum Amounts — If your Contract Value is less than $5,000 on the Annuity Commencement Date, we reserve the right to pay the Contract Value in one lump sum. If at any time your annuity income payments are less than the minimum payment amount according to the Company's rules then in effect, we reserve the right to change the frequency of your income payments to an interval that will result in a payment amount at least equal to the minimum. Guaranteed Purchase Rates — The guaranteed interest basis, which is not applicable to variable income payments, is 3%. The mortality basis is the 1983 Individual Annuitant Mortality Table A projected 14 years. One year will be deducted from the attained age of the Annuitant for every 3 completed years beyond the year 1997. Upon request, we will furnish you the guaranteed purchase rates for ages and periods not shown below. Annuity benefits available on the Annuity Commencement Date will not be less than those provided by the application of an equivalent amount to the purchase of a single premium immediate annuity contract offered by us on the Annuity Commencement Date to the same class of Annuitants for the same Annuity Option. FIXED ANNUITY TABLES OPTION A TABLE OPTION B TABLE Payments for a Certain Period Life Income with or without a Certain Period Life with 10 Year Certain Period Life Only Monthly Payment Age of Annuitant Years Male Female Male Female 5 17.91 60 4.77 4.25 4.68 4.21 10 9.61 65 5.46 4.78 5.28 4.70 15 6.87 70 6.44 5.53 6.03 5.36 20 5.51 75 7.79 6.63 6.90 6.21 25 4.71 80 9.70 8.26 7.81 7.22 30 4.18 85 & over 12.38 10.70 8.60 8.20 These tables illustrate the minimum fixed monthly annuity payments rates for each $1,000 applied. Individual Flexible Premium Deferred Fixed and Variable Annuity Contract Non-Participating 16 QuickLinks

Examples of Additional Option in a sentence

• Unless otherwise excused as provided herein, the Agent shall act on all written instructions received from the Majority Holders, who shall all act reasonably in all respects and without undue delay, with respect to any action to be taken or not to be taken in connection with this Agreement including, without limitation, actions to be taken in connection with the Additional Option.

• Each Securityholder hereby appoints and designates the Agent as agent hereunder and appoints and designates the Agent as agent to carry out the responsibilities and exercise the powers and rights set out in this Agreement, including without limitation relating to the exercise of the Additional Option and transfer of the Additional Optioned Shares.

• The Securityholder is not a U.S. Person and will not be a U.S. Person on the Additional Option Exercise Date, and covenants and agrees with the Optionee that it will provide written notice to the Optionee if it becomes a U.S. Person and will complete such additional investor certificates as may be reasonably required by the Optionee or its legal counsel for compliance with Applicable Laws.

• The Optionor covenants and agrees with the Optionee that it shall take all action necessary to authorize and effect the transfer of the Additional Optioned Shares from the Securityholders to the Optionee upon exercise of the Additional Option, and that it shall not at any time take any action which has the effect of frustrating the grant and the timely exercise of the Additional Option and the transfer of the Additional Optioned shares hereunder.

• The Securityholder covenants and agrees with the Optionee and the Optionor that it shall take all reasonable action necessary to authorize and effect the transfer of the Additional Optioned Shares from the Securityholder to the Optionee upon exercise of the Additional Option, and that it shall not at any time take any action with the intent which has the effect of frustrating the grant and the timely exercise of the Additional Option and the transfer of the Additional Optioned shares hereunder.

More Definitions of Additional Option

Additional Option means an Option issued by the Company in exchange for Shares delivered by an Optionee as full or partial payment of the Option Exercise Price of an Original Option pursuant to Section 2.3.8 of this Plan.

Additional Option means an Option granted to a Non-Employee Director pursuant to Section 6.4 based upon his or her level of Stock ownership.

Additional Option means an Option Right granted to an Optionee in connection with the exercise of an option as described in Section 5.4

Additional Option. The Contract Value, less applicable premium tax, may be used to purchase any annuity contract that we offer on the date this option is elected. MINIMUM AMOUNTS - If your Contract Value is less than $5,000 on the Annuity Commencement Date, we reserve the right to pay the Contract Value in one lump sum. If at any time your annuity income payments are less than the minimum payment amount according to the Company's rules then in effect, we reserve the right to change the frequency of your income payments to an interval that will result in a payment amount at least equal to the minimum. GUARANTEED PURCHASE RATES - The guaranteed interest basis, which is not applicable to variable income payments, is 3%. The mortality basis is the 1983 Individual Annuitant Mortality Table A projected 14 years. One year will be deducted from the attained age of the Annuitant for every 3 completed years beyond the year 1997. Upon request, we will furnish you the guaranteed purchase rates for ages and periods not shown below. Annuity benefits available on the Annuity Commencement Date will not be less than those provided by the application of an equivalent amount to the purchase of a single premium immediate annuity contract offered by us on the Annuity Commencement Date to the same class of Annuitants for the same Annuity Option.

Additional Option shall have the meaning set forth in SECTION 9(b).

Additional Option. The Contract Value, less applicable premium tax, may be used to purchase any annuity contract that we offer on the date this option is elected.

Additional Option means a right to purchase stock of the Company granted under Section 7.2 of the Plan.