Common use of ALTERNATIVE GUARANTEED FUND WITHDRAWAL AND TRANSFER PAYMENT Clause in Contracts

ALTERNATIVE GUARANTEED FUND WITHDRAWAL AND TRANSFER PAYMENT. Instead of the Withdrawals and Transfer payments provided in Section 8.2, the Contract Owner may direct Nationwide to withdraw all of the Guaranteed Fund on the Transfer Date, which will not be more than 90 days following receipt of the Contract Owner’s written request, in good order. In this event, Nationwide shall make a transfer payment to the Funding Successor equal to the market value of such amount. The market value of the Withdrawal is equal to the amount withdrawn multiplied by the Market Value Adjustment Factor. Taxes and applicable charges in accordance with Article VI shall reduce transfer payments. If the transfer payment results from a full or partial termination of the Plan or merger of the Plan, the transfer payments shall be made in accordance with Section 8.1. In the event that the Contract is terminated by Nationwide as described in Section 7.3 of this Contract, the Termination Fee as described in Section 6.3 of the Contract will be waived. In addition, the Market Value Adjustment Factor used to determine the transfer payment under this Section will be the greater of the amount specified on the Contract Specifications Page(s) and 1.

ALTERNATIVE GUARANTEED FUND WITHDRAWAL AND TRANSFER PAYMENT. Instead of the Withdrawals and Transfer payments provided in Section 8.2, the Contract Owner may direct Nationwide to withdraw all of the Guaranteed Fund on the Transfer Date, which will not be more than 90 days following receipt of the Contract Owner’s written request, in good order. In this event, Nationwide shall make a transfer payment to the Funding Successor equal to the market value of such amount. The market value of the Withdrawal is equal to the amount withdrawn multiplied by the Market Value Adjustment Factor. Taxes and applicable charges in accordance with Article VI shall reduce transfer payments. If the transfer payment results from a full or partial termination of the Plan or merger of the Plan, the transfer payments shall be made in accordance with Section 8.1. In the event that the Contract is terminated by Nationwide as described in Section 7.3 of this Contract, Nationwide guarantees that the amount paid will be no less than the Amount of Guaranteed Fund. Should Nationwide terminate this contract as described in Section 7.3, the Termination Fee as described in Section 6.3 of the Contract will be waived. In addition, the Market Value Adjustment Factor used to determine the transfer payment under this Section will be the greater of the amount specified on the Contract Specifications Page(s) and 1.