Common use of CONTRACT AND PROGRAM CHANGES Clause in Contracts

CONTRACT AND PROGRAM CHANGES. A. The Cedent may amend, substitute, add or delete variable investment funds to the investment options supporting the annuity contracts as described in the contract general provisions. The Cedent shall make no such change without prior notification to the Reinsurer, which notification shall be promptly forwarded to the Reinsurer, and without the prior approval of the Securities and Exchange Commission (SEC) or applicable self-regulatory body approval, if necessary. The Cedent shall provide thirty (30) days prior written notice to the Reinsurer, unless otherwise agreed to by the Cedent and the Reinsurer, of any proposed change in the investment options supporting Reinsured Contracts. The Cedent shall maintain a reasonable selection of core investment options with characteristics similar to those listed in Schedule B. B. The Cedent shall give the Reinsurer thirty (30) days prior written notice, unless otherwise agreed to by the Cedent and the Reinsurer, of any other accepted changes to the Reinsured Contracts relating to a Cedent's annuity product design and/or death benefit design, fees and charges, distribution systems and/or methods or addition of any riders to any Reinsured Contract forms. C. The Cedent shall provide to the Reinsurer a copy of each general communication that the Cedent sends to contract holders in any state. D. The Cedent shall simultaneously provide to the Reinsurer and any subsequent retrocessionaires, a copy of any notice of any proposed change in the investment options supporting Reinsured Contracts, and/or any other accepted changes to the Reinsured Contracts related to a Cedent's annuity product design and/or death benefit design, fees, charges, distributions systems and/or methods or additions of any riders to any Reinsured Contract forms.