Common use of Changes to the Separate Account and Modification of Covered Funds Clause in Contracts

Changes to the Separate Account and Modification of Covered Funds. Great-West reserves the right to make certain changes to the structure and operation of the Variable Annuity-8 Series Account, including the following. Subject to compliance with applicable law, Great-West also reserves the right to: • operate the Separate Account in any form permitted under the 1940 Act, or in any other form permitted by law. • deregister the Separate Account under the 1940 Act. • add Variable Accounts that invest in investment portfolios suitable for this Contract. • eliminate Variable Accounts. • close certain Variable Accounts to allocations of Contributions or Transfers by current or new Owners or Covered Persons. • establish additional segregated investment accounts and/or divisions of such segregated investment accounts (“sub-accounts”). • combine the Separate Account with one or more different segregated investment accounts established by Great-West. • combine Variable Accounts, or combine a Variable Account with a sub-account of a different segregated investment account established by Great-West. • endorse this Contract to reflect changes to the Separate Account and Variable Accounts. • make any changes required by the Code or by any other applicable law in order to continue treatment of this Contract as an annuity. Great-West also reserves the right, subject to compliance with applicable law, to add, remove or substitute Covered Funds. New or substitute Covered Funds may have different fees and expenses, and their availability may be limited to certain Covered Persons. Such actions may become necessary if, in Great-West’s judgment, a Covered Fund no longer suits the purposes of the Contract. This may happen as a result of a change in laws or regulations, or a change in a Covered Fund’s or Variable Account’s investment objectives or restrictions, or because the Covered Fund or Variable Account is no longer available for investment, or for some other reason. Subject to any required regulatory approvals, Great‑West reserves the right to transfer assets in one Variable Account to another Variable Account. Great-West will notify the IRA Owner whenever the Covered Funds are changed. Great-West shall, subject to any required regulatory approvals, complete the allocations among the Covered Fund(s) as disclosed in the notice. Such allocation will remain in effect until the date Great-West receives a request, made in Good Order, for a different allocation.

Changes to the Separate Account and Modification of Covered Funds. Great-West of New York reserves the right to make certain changes to the structure and operation of the Variable Annuity-8 Series Account, including the following. Subject to compliance with applicable law, Great-West of New York also reserves the right to: • operate the Separate Account in any form permitted under the 1940 Act, or in any other form permitted by law. • deregister the Separate Account under the 1940 Act. • add Variable Accounts that invest in investment portfolios suitable for this Contract. • eliminate Variable Accounts. • close certain Variable Accounts to allocations of Contributions or Transfers by current or new Owners or Covered Persons. • establish additional segregated investment accounts and/or divisions of such segregated investment accounts (“sub-accounts”). • combine the Separate Account with one or more different segregated investment accounts established by Great-WestWest of New York. • combine Variable Accounts, or combine a Variable Account with a sub-account of a different segregated investment account established by Great-WestWest of New York. • endorse this Contract to reflect changes to the Separate Account and Variable Accounts. • make any changes required by the Code or by any other applicable law in order to continue treatment of this Contract as an annuity. Great-West of New York also reserves the right, subject to compliance with applicable law, to add, remove or substitute Covered Funds. New or substitute Covered Funds may have different fees and expenses, and their availability may be limited to certain Covered PersonsPersons in a manner consistent with applicable New York insurance discrimination laws. Such actions may become necessary if, in Great-WestWest of New York’s judgment, a Covered Fund no longer suits the purposes of the Contract. This may happen as a result of a change in laws or regulations, or a change in a Covered Fund’s or Variable Account’s investment objectives or restrictions, or because the Covered Fund or Variable Account is no longer available for investment, or for some other reason. Subject to any required regulatory approvals, Great‑West Great-West of New York reserves the right to transfer assets in one Variable Account to another Variable Account. Great-West of New York will notify the IRA XXX Owner whenever the Covered Funds are changed. Great-West of New York shall, subject to any required regulatory approvals, complete the allocations among the Covered Fund(s) as disclosed in the notice. Such allocation will remain in effect until the date Great-West of New York receives a request, made in Good Order, for a different allocation.

Changes to the Separate Account and Modification of Covered Funds. Great-West GWL&A of NY reserves the right to make certain changes to the structure and operation of the Variable Annuity-8 Series Account, including the following. Subject to compliance with applicable law, Great-West GWL&A of NY also reserves the right to: • operate the Separate Account in any form permitted under the 1940 Act, or in any other form permitted by law. • deregister the Separate Account under the 1940 Act. • add Variable Accounts that invest in investment portfolios suitable for this the Contract. • eliminate Variable Accounts. • close certain Variable Accounts to allocations of Contributions or Transfers by current or new Owners or Covered Persons. GLWB Participants and Contractholders • establish additional segregated investment accounts and/or divisions of such segregated investment accounts (“sub-accounts”). • combine the Separate Account with one or more different segregated investment accounts established by Great-WestGWL&A of NY. • combine Variable Accounts, or combine a Variable Account with a sub-account of a different segregated investment account established by Great-WestGWL&A of NY. • endorse this the Contract to reflect changes to the Separate Account and Variable Accounts. • make any changes required by the Code or by any other applicable law in order to continue treatment of this the Contract as an annuity. Great-West GWL&A of NY also reserves the right, subject to compliance with applicable law, to add, remove or substitute Covered Funds. New or substitute Covered Funds may have different fees and expenses, and their availability may be limited to certain Covered PersonsContractholders and GLWB Participants in a manner consistent with applicable New York insurance discrimination laws. Such actions may become necessary if, in Great-WestGWL&A of NY’s judgment, a Covered Fund no longer suits the purposes of the Contract. This may happen as a result of a change in laws or regulations, or a change in a Covered Fund’s or Variable Account’s investment objectives or restrictions, or because the Covered Fund or Variable Account is no longer available for investment, or for some other reason. Subject to any required regulatory approvals, Great‑West GWL&A of NY reserves the right to transfer assets in one Variable Account to another Variable Account. Great-West GWL&A of NY will notify the IRA Owner Plan Sponsor whenever the Covered Funds are changed. Great-West Absent different instructions from the Plan Sponsor, GWL&A of NY shall, subject to any required regulatory approvals, complete the allocations among the Covered Fund(s) as disclosed in the notice. Such allocation will remain in effect until the date Great-West GWL&A of NY receives a request, made in Good Order, for a different allocation. If any of the above actions result in a material change in the underlying investments of a Variable Account in which GLWB Participants are invested, GWL&A of NY will provide at least [60] calendar days written notice to the Plan Sponsor. This notice will explain any Variable Account change(s), communicate the timeline and effective date of any Variable Account change, provide information on the fees received by GWL&A of NY, and explain Plan Sponsor’s right to opt out of any Variable Account change. The absence of an objection by Plan Sponsor to such notice shall be deemed to be a consent to the change(s). If GWL&A of NY is provided notice from a Covered Fund provider that results in a change to the investment options available under a Plan, GWL&A of NY will provide Plan Sponsor with notice of that change as soon as administratively feasible. If GWL&A of NY does not receive an objection from Plan Sponsor to a GWL&A of NY-initiated change, GWL&A of NY will, subject to required regulatory approvals, transfer GLWB Participant Account Value between Variable Accounts as disclosed in the notice. Such allocation will be in effect until such time as GWL&A of NY receives a written request, in Good Order, for a different allocation. If Plan Sponsor provides written objection to GWL&A of NY within the [60] calendar day notice period, GWL&A of NY will not make the proposed change in Variable Accounts available under the Contract. If Plan Sponsor objects to a proposed Variable Account, GWL&A of NY may terminate this Contract pursuant to Section 15 of this Contract.

Changes to the Separate Account and Modification of Covered Funds. Great-West reserves the right to make certain changes to the structure and operation of the Variable Annuity-8 Series Account, including the following. Subject to compliance with applicable law, Great-West also reserves the right to: • operate the Separate Account in any form permitted under the 1940 Act, or in any other form permitted by law. • deregister the Separate Account under the 1940 Act. • add Variable Accounts that invest in investment portfolios suitable for this the Contract. • eliminate Variable Accounts. • close certain Variable Accounts to allocations of Contributions or Transfers by current or new Owners or Covered PersonsGLWB Participants and Contractholders. • establish additional segregated investment accounts and/or divisions of such segregated investment accounts (“sub-accounts”). • combine the Separate Account with one or more different segregated investment accounts established by Great-West. • combine Variable AccountsAccounts , or combine a Variable Account with a sub-account of a different segregated investment account established by Great-West. • endorse this the Contract to reflect changes to the Separate Account and Variable Accounts. • make any changes required by the Code or by any other applicable law in order to continue treatment of this the Contract as an annuity. Great-West also reserves the right, subject to compliance with applicable law, to add, remove or substitute Covered Funds. New or substitute Covered Funds may have different fees and expenses, and their availability may be limited to certain Covered PersonsContractholders and GLWB Participants. Such actions may become necessary if, in Great-West’s judgment, a Covered Fund no longer suits the purposes of the Contract. This may happen as a result of a change in laws or regulations, or a change in a Covered Fund’s or Variable Account’s investment objectives or restrictions, or because the Covered Fund or Variable Account is no longer available for investment, or for some other reason. Subject to any required regulatory approvals, Great‑West reserves the right to transfer assets in one Variable Account to another Variable Account. Great-West Great‑West will notify the IRA Owner Plan Sponsor whenever the Covered Funds are changed. Absent different instructions from the Plan Sponsor, Great-West shall, subject to any required regulatory approvals, complete the allocations among the Covered Fund(s) as disclosed in the notice. Such allocation will remain in effect until the date Great-West receives a request, made in Good Order, for a different allocation. If any of the above actions result in a material change in the underlying investments of a Variable Account in which GLWB Participants are invested, Great-West will provide at least [60] calendar days written notice to the Plan Sponsor. This notice shall explain any Variable Account change(s), communicate the timeline and effective date of any Variable Account change, provide information on the fees received by Great-West, and explain Plan Sponsor’s right to opt out of any Variable Account change. The absence of an objection by Plan Sponsor to such notice shall be deemed to be a consent to the change(s). If Great-West is provided notice from a Covered Fund provider that results in a change to the investment options available under a Plan, Great-West will provide Plan Sponsor with notice of that change as soon as administratively feasible. If Great-West does not receive an objection from Plan Sponsor to a Great-West-initiated change, Great-West will, subject to required regulatory approvals, transfer GLWB Participant Account Value between Variable Accounts as disclosed in the notice. Such allocation will be in effect until such time as Great-West receives a written request, in Good Order, for a different allocation. If Plan Sponsor provides written objection to Great-West within the [60] calendar day notice period, Great‑West will not make the proposed change in Variable Accounts available under the Contract. If Plan Sponsor objects to a proposed Variable Account, Great-West may terminate this Contract pursuant to Section 15 of this Contract.