Common use of Change of Contract Clause in Contracts

Change of Contract. Only an ALIAC officer at the level of Vice President or higher, or an officer with written delegation of authority from a Vice President or higher officer, may change the terms of this Contract. No other ALIAC officer, employee, agent or representative can change this Contract. Except as noted below, this Contract may be changed at any time by written mutual agreement between the Contract Holder and ALIAC (or for Contracts funded solely by employee Contributions, the Participant). For changes we initiate requiring Contract Holder or Participant consent, we notify the Contract Holder 60 calendar days in advance of the change and consider that the Contract Holder or Participant has agreed to the change unless we receive written notice that the Contract Holder or Participant does not agree to the change at least 30 calendar days before the date the change becomes effective. If we propose a change requiring Contract Holder or Participant consent and the Contract Holder or Participant does not agree to the change, we have the right to not establish new Individual Accounts and to stop accepting Contributions to existing Individual Accounts. We will not reduce the minimum guaranteed interest rate for the Fixed Account and the Fixed Plus Account. We have the right to change the following without Contract Holder or Participant consent: (a) Net Investment Factor (see 3.06) We may change the net investment factor by notifying the Contract Holder or Participant in writing at least 30 calendar days before the change becomes effective. If we do this, the change will apply only to Individual Accounts established, and Contributions received, after the date the change becomes effective. (b) Guaranteed Accumulation Account (GAA) market value adjustment (see 7.09) We may change the GAA market value adjustment by notifying the Contract Holder or Participant in writing at least 90 calendar days before the change becomes effective. If we do this, the change will apply only to guaranteed terms offered in deposit periods after the date the change becomes effective. (c) Systematic Distribution Options (see 8.

Change of Contract. Only an ALIAC a Company officer at the level of Vice President or higher, or an officer with written delegation of authority from a Vice President or higher officer, may change the terms of this Contract. No other ALIAC Company officer, employee, agent or representative can change this Contract. Except as noted below, this Contract may be changed at any time by written mutual agreement between the Contract Holder and ALIAC (or for Contracts funded solely by employee Contributions, the Participant)Company. For changes we initiate requiring Contract Holder or Participant consent, we notify the Contract Holder 60 calendar days in advance of the change and consider that the Contract Holder or Participant has agreed to the change unless chanxx xxxess we receive written notice that the Contract Holder or Participant does not agree to the change at least 30 calendar days before the date the change becomes effective. If we propose a change requiring Contract Holder or Participant consent and the Contract Holder or Participant does not agree to the change, we have the right to not establish new Individual Accounts and to stop accepting Contributions to existing Individual Accounts. We will not reduce change, unilaterally or pursuant to mutual agreement, the minimum guaranteed interest rate for the provisions of Section 4.01 (Fixed Plus Account and II Minimum Guaranteed Interest Rate) or the Fixed Plus Account. Account II Minimum Guaranteed Interest Rate provisions in Contract Schedule I. We have the right to change the following without Contract Holder or Participant consent: (a) Net Investment Factor (see 3.06) We may change the net investment factor by notifying the Contract Holder or Participant in writing at least 30 calendar days before the change becomes effective. If we do this, (other than a change to the net investment factor in accordance with Section 1.18), the change will apply only to Individual Accounts established, and Contributions received, after the date the change becomes effective. (b) Guaranteed Accumulation Account (GAA) market value adjustment (see 7.095.09) We may change the GAA market value adjustment by notifying the Contract Holder or Participant in writing at least 90 calendar days before the change becomes effective. If we do this, the change will apply only to guaranteed terms offered in deposit periods after the date the change becomes effective.. G-CDA-10 3 (c) Systematic Distribution Options (see 86.

Change of Contract. Only an ALIAC a Company officer at the level of Vice President or higher, or an officer with written delegation of authority from a Vice President or higher officer, may change the terms of this Contract. No other ALIAC Company officer, employee, agent or representative can change this Contract. Except as noted below, this Contract may be changed at any time by written mutual agreement between the Contract Holder and ALIAC (or for Contracts funded solely by employee Contributions, the Participant)Company. For changes we initiate requiring Contract Holder or Participant consent, we notify the Contract Holder 60 calendar days in advance of the change and consider that the Contract Holder or Participant has agreed to the change unless we receive written notice that the Contract Holder or Participant Xxxxxx does not agree to the change at least 30 calendar days before the date the change becomes effective. If we propose a change requiring Contract Holder or Participant consent and the Contract Holder or Participant does not agree to the change, we have the right to not establish new Individual Accounts and to stop accepting Contributions to existing Individual Accounts. We will not reduce change, unilaterally or pursuant to mutual agreement, the minimum guaranteed interest rate for the provisions of Section 4.01 (Fixed Plus Account and II Minimum Guaranteed Interest Rate) or the Fixed Plus Account. Account II Minimum Guaranteed Interest Rate provisions in Contract Schedule I. We have the right to change the following without Contract Holder or Participant consent: (a) Net Investment Factor (see 3.06) We may change the net investment factor by notifying the Contract Holder or Participant in writing at least 30 calendar days before the change becomes effective. If we do this, (other than a change to the net investment factor in accordance with Section 1.18), the change will apply only to Individual Accounts established, and Contributions received, after the date the change becomes effective. (b) Guaranteed Accumulation Account (GAA) market value adjustment (see 7.095.09) We may change the GAA market value adjustment by notifying the Contract Holder or Participant in writing at least 90 calendar days before the change becomes effective. If we do this, the change will apply only to guaranteed terms offered in deposit periods after the date the change becomes effective. (c) Systematic Distribution Options (see 86.08) We may change systematic distribution options by notifying the Contract Holder in writing at least 30 calendar days before the change becomes effective. If we do this, the change will not apply to Participants or beneficiaries receiving payments under an option before the date the change becomes effective. (d) Annuity Options (see 9.02) and the mortality table (see 9.03) The company may change or eliminate Annuity options, the attached Annuity options tables and the mortality table we use to calculate payment rates for life-contingent Annuity payments. If we do this, the change will be effective no earlier than 12 months after the Effective Date of the Contract and no earlier than 12 months after the date on which any such prior change was effective. Any change will not apply to Individual Accounts under the Contract established before the effective date of the change, but will apply to new Individual Accounts covered on or after the date any change is effective. Any change will not affect the amount or terms of any Annuity beginning before the change is effective. In addition, we may change this Contract as required to comply with state and federal law without Contract Holder consent by notifying the Contract Holder before the date the change becomes effective. Any unilateral change, other than changes required to comply with state or federal law, will not apply to Individual Accounts established before the date the change becomes effective, but will apply to Individual Accounts established on or after the date the change becomes effective. If we make a unilateral change, the Contract Holder or Participants, as applicable, are permitted to terminate participation in the Contract before the date the change becomes effective under the terms of the Contract in effect prior to the date the change becomes effective. As required by law, we will make any change of Contract by endorsement, which may be subject to regulatory approval in the state where the Contract is delivered.

Change of Contract. Only an ALIAC officer at the level of Vice President or higher, or an officer with written delegation of authority from a Vice President or higher officer, may change the terms of this Contract. No other ALIAC officer, employee, agent or representative can change this Contract. Except as noted below, this Contract may be changed at any time by written mutual agreement between the Contract Holder Xxxxxx and ALIAC (or for Contracts funded solely by employee Contributions, the Participant)ALIAC. For changes we initiate requiring Contract Holder or Participant consent, we notify the Contract Holder 60 calendar days in advance of the change and consider that the Contract Holder or Participant has agreed to the change unless we receive written notice that the Contract Holder or Participant does not agree to the change at least 30 calendar days before the date the change becomes effective. If we propose a change requiring Contract Holder or Participant consent and the Contract Holder or Participant does not agree to the change, we have the right to not establish new Individual Accounts and to stop accepting Contributions to existing Individual Accounts. We will not reduce the minimum guaranteed interest rate for the Fixed Account and the Fixed Plus Account. We have the right to change the following without Contract Holder or Participant consent: (a) Net Investment Factor (see 3.06) We may change the net investment factor by notifying the Contract Holder or Participant in writing at least 30 calendar days before the change becomes effective. If we do this, the change will apply only to Individual Accounts established, and Contributions received, after the date the change becomes effective. (b) Guaranteed Accumulation Account (GAA) market value adjustment (see 7.09) We may change the GAA market value adjustment by notifying the Contract Holder or Participant in writing at least 90 calendar days before the change becomes effective. If we do this, the change will apply only to guaranteed terms offered in deposit periods after the date the change becomes effective. (c) Systematic Distribution Options (see 8.