Common use of FUND SHARES Clause in Contracts

FUND SHARES. The amount of each contribution to the Custodial Account shall be applied to the purchase of shares of ownership in one or more investment companies registered under the Investment Company Act of 1940, as amended (hereinafter referred to individually as a "Fund", which is approved by Dreyfus Service Corporation (the "Sponsor") and which the Custodian has agreed to hold, in accordance with the Fund's then current Prospectus. Such shares are referred to herein as "Fund Shares." The Custodian shall credit such Fund Shares to the separate Custodial Account of the Employee who shall be the beneficial owner of such shares. A confirmation for each contribution received showing the investment thereof and current status of the Custodial Account shall be prepared by the Custodian and sent to the Employee. All dividends and capital gains distributions received on the Fund Shares held by the Custodian in the Custodial Account shall be reinvested in accordance with the respective Fund's then current Prospectus in additional Fund Shares, which shall be credited to the Custodial Account. A confirmation showing the current status of the Custodial Account shall be prepared by the Custodian and sent to the Employee with respect to each such reinvestment. At least once each year the Custodian shall furnish the Employee with an annual report of all activity in the Custodial Account during the preceding calendar year, which shall be deemed to be the sole accounting required to be provided by the Custodian necessary under this Agreement. If the Custodian does not receive a written objection to such accounting from the Employee within one hundred eighty (180) days after the date the accounting is sent by the Custodian, the Employee shall be considered to have fully approved the accounting and the Custodian shall be relieved from all liabilities and responsibilities that may arise in connection with any matters covered by the accounting. The Employee may authorize and direct the Custodian in writing to exchange any or all Fund Shares held in the Custodial Account for any other Fund Shares, subject to, and in accordance with, the terms and conditions of any exchange privilege, including the telephone exchange privilege, offered with respect to Fund Shares as described in the then current Prospectus of the applicable Fund. The Sponsor may allow the Employee to authorize an investment advisor to make such exchanges subject to, and in accordance with, such terms and conditions as may be agreed upon in writing from time to time by the Sponsor and the Custodian. If the Employee elects, either in the Application or other form acceptable to the Custodian, the telephone exchange privilege or authorizes an investment advisor to make exchanges as described above, the Custodian shall be entitled to reply and act on telephone instructions from any person representing himself or herself to be the Employee directing the exchange of any or all shares of a Fund held in the Custodial Account for shares of any other Fund(s) as specified in such telephonic instructions, provided that such Fund is available for sale in the state of residence of the Employee. It is understood and agreed that the telephone exchange privilege is subject to the limitations specified above. The Employee affirms that, prior to requesting any exchange, the Employee shall obtain a copy of the then current Prospectus of each Fund into which any exchange is requested to be made. The Employee authorizes and directs the Custodian to respond to any telephonic inquiries relating to the status of shares owned, including, but not limited to, the number of shares held. The Employee and the Employee's beneficiary(ies), assignees and successors understand and agree that the Sponsor, the Custodian, each Fund and The Dreyfus Corporation, and each of their respective officers, directors, trustees, general partners, affiliates, agents and employees, will not be held liable and will be fully protected by the Employee against any and all claims, liabilities, losses, damages and expenses (including attorneys' and accountants' fees) arising out of any exchange request effected in accordance with any telephone instructions. The Employee certifies and agrees that the certifications, authorizations, directions and restrictions contained herein or otherwise provided to the Custodian will continue in effect until the Custodian receives written notice of any change or revocation. The Employee understands that each of the Funds and the Custodian reserves the right to refuse any telephonic instructions. All Fund Shares acquired by the Custodian for the benefit of the Employee shall be registered in the name of the Custodian or its nominee.

FUND SHARES. 1.1 The amount Trust and the Distributor agree to make shares of the Funds available for purchase on each contribution Business Day (as defined below) by the Separate Accounts. Each Fund will execute orders placed for each Separate Account on a daily basis at the net asset value next computed after receipt and acceptance by the Trust or its designee of such order. A. For purposes of this Agreement, Hartford shall be the designee of the Trust for receipt of orders from each Separate Account and receipt by Hartford constitutes receipt by the Trust, provided that the Distributor receives notice of orders by 8:30 a.m. (Eastern time) on the next following Business Day. B. For purposes of this Agreement, "Business Day" shall mean each day on which the New York Stock Exchange is open for trading and on which each Fund calculates its net asset value pursuant to the Custodial Account shall be applied rules of the Securities and Exchange Commission ("SEC") as set forth in the Trust's registration statement on Form N-1A (the "Registration Statement"). 1.2 The Trust agrees to make available on each Business Day shares of the Funds for purchase at the applicable net asset value per share by the Separate Accounts; provided, however, that the Board of Trustees of the Trust (the "Board"), acting in good faith and in the exercise of its fiduciary responsibilities, may refuse to permit the Trust to sell shares of any Fund to any person, or suspend or terminate the offering of shares of ownership any Fund if such action is required by law or by regulatory authorities having jurisdiction over the sale of shares or if the Board determines that such action is necessary in one the best interests of the shareholders of any Fund. 1.3 The Trust and Distributor agree that shares of the Funds will be sold only to insurance companies, for use in conjunction with variable life insurance policies or more investment companies registered variable annuities to separate accounts of insurance companies, and to other persons consistent with the diversification rules under Section 817(h) of the Investment Company Act Internal Revenue Code of 19401986, as amended (hereinafter referred to individually as a "Fund", which is approved by Dreyfus Service Corporation (the "SponsorCode"), and the regulations thereunder. No shares of the Funds will be sold to the general public unless otherwise permitted by the Mixed and Shared Funding Exemptive Order and any applicable provisions of the Code. 1.4 Upon receipt of a request for redemption in proper form from Hartford on any Business Day, the Trust agrees to redeem any full or fractional shares of the Funds held by the Separate Accounts at the net asset value next computed after receipt and acceptance by the Trust or its designee of the request for redemption, except that the Trust reserves the right to suspend redemptions temporarily to the extent permitted under the 1940 Act. Such redemption shall be paid consistent with applicable rules of the SEC and procedures and policies of the Trust as described in the Trust's current registration statement. A. For purposes of this Agreement, Hartford shall be the designee of the Trust for receipt of redemption requests from each Separate Account and receipt by Hartford constitutes receipt by the Trust, provided that the Distributor receives notice of the redemption request by 8:00 a.m. (Eastern time) on the next following Business Day. Hartford agrees to submit such orders electronically through secured trading systems as described on Schedule C to this Agreement or, if it is unable to submit orders electronically, Hartford shall submit such orders through manual transmissions using the procedures described in Schedule C to this Agreement. 1.5 Hartford agrees that purchases and which the Custodian has agreed to hold, redemptions of Fund shares shall be made in accordance with the provisions of the then current prospectuses of the Funds. A. Hartford will place separate orders to purchase or redeem shares of each Fund. Each order shall describe the net amount of shares and dollar amount of each Fund to be purchased or redeemed. B. Unless otherwise specified in Schedule C, Hartford shall pay for shares of the Funds on the next Business Day after Hartford's receipt of an order to purchase shares of a Fund, and payment shall be in federal funds transmitted by wire. C. In the event of net redemptions, a Fund shall pay the redemption proceeds in federal funds transmitted by wire on the next Business Day after Hartford's receipt of an order to redeem shares. 1.6 Issuance and transfer of a Fund's then current Prospectusshares will be by book entry only. Such shares are referred Share certificates will not be issued to herein as "Fund Shares." The Custodian shall credit such Fund Hartford or any Separate Account. Shares to the separate Custodial Account of the Employee who shall purchased will be the beneficial owner of such shares. A confirmation recorded in an appropriate title for each contribution received showing Separate Account or the investment thereof and current status appropriate sub-account of each Separate Account. The Trust shall furnish to Hartford the Custodial Account CUSIP number assigned to each Fund identified in Schedule B attached as may be amended from time to time. 1.7 The Trust or its designee shall be prepared notify Hartford in advance of any dividends or capital gain distributions payable on a Fund's shares, but by the Custodian and sent no later than same day notice by 6:00 p.m. Eastern time (by wire or telephone, followed by written confirmation). Hartford elects to the Employee. All receive all such dividends and capital gains gain distributions received on the Fund Shares held by the Custodian in the Custodial Account shall be reinvested in accordance with the respective Fund's then current Prospectus in additional Fund Shares, which shall be credited to the Custodial Account. A confirmation showing the current status shares of the Custodial Account shall be prepared by the Custodian and sent to the Employee with respect to each such reinvestment. At least once each year the Custodian shall furnish the Employee with an annual report of all activity in the Custodial Account during the preceding calendar year, which shall be deemed to be the sole accounting required to be provided by the Custodian necessary under this Agreement. If the Custodian does not receive a written objection to such accounting from the Employee within one hundred eighty (180) days after the date the accounting is sent by the Custodian, the Employee shall be considered to have fully approved the accounting and the Custodian shall be relieved from all liabilities and responsibilities that may arise in connection with any matters covered by the accounting. The Employee may authorize and direct the Custodian in writing to exchange any or all Fund Shares held in the Custodial Account for any other Fund Shares, subject to, and in accordance with, the terms and conditions of any exchange privilege, including the telephone exchange privilege, offered with respect to Fund Shares as described in the then current Prospectus of the applicable paying Fund. The Sponsor may allow Trust or its agent shall notify Hartford of the Employee number of shares issued as payment of dividends and distributions. Hartford reserves the right to authorize an investment advisor revoke this election and to receive all such dividends and capital gain distributions in cash. 1.8 Unless otherwise specified in Schedule C, the Trust or its agent shall advise Hartford on each Business Day of the net asset value per share for each Fund as soon as reasonably practical after the net asset value per share is calculated and shall use its best efforts to make such exchanges subject to, and in accordance with, such terms and conditions as may be agreed upon in writing from time to time net asset value per share available by the Sponsor and the Custodian. 6:30 p.m. Eastern time. A. If the Employee elects, either in the Application Trust or other form acceptable to the Custodianits agent provides materially incorrect share net asset value information through no fault of Hartford, the telephone exchange privilege or authorizes an investment advisor to make exchanges as described above, the Custodian Separate Accounts shall be entitled to reply and act on telephone instructions from any person representing himself an adjustment with respect to the Fund shares purchased or herself redeemed to be reflect the Employee directing correct net asset value per share. B. The determination of the exchange materiality of any or all shares of a Fund held net asset value pricing error and its correction shall be based on the SEC's recommended guidelines regarding these errors. Any material error in the Custodial Account for shares calculation or reporting of net asset value per share, dividend or capital gain information shall be reported promptly to Hartford upon discovery. The Trust and/or its agents shall indemnify and hold harmless Hartford against any other Fund(samount Hartford is legally required to pay qualified plans ("Plans") as specified in such telephonic instructionsor Contract owners, provided that such Fund and which amount is available for sale in due to the state of residence Trust's or its agents' material miscalculation and/or incorrect reporting of the Employeedaily net asset value, dividend rate or capital gains distribution rate. It is understood and agreed that the telephone exchange privilege is subject Hartford shall submit an invoice to the limitations specified aboveTrust or its agents for such losses incurred as a result of the above which shall be payable within sixty (60) days of receipt. The Employee affirms thatShould a material miscalculation by the Trust or its agents result in a gain to Hartford, prior Hartford shall immediately reimburse the Trust or its agents for any amount lost by the Trust or its agents as a result of the incorrect calculation. Should a material miscalculation by the Trust or its agents result in a gain to requesting the Plans or Contract owners, Hartford will consult with the Trust or its designee as to what reasonable efforts shall be made to recover the money and repay the Trust or its agents. Hartford shall then make such reasonable effort, at the expense of the Trust or its agents, to recover the money and repay the Trust or its agents; but Hartford shall not be obligated to take legal action against the Plans or Contract owners. With respect to the material errors or omissions relating to net asset value pricing, this section shall control over other indemnification provisions in this Agreement. C. Notwithstanding anything possibly to the contrary in this Agreement or any exchangeRule 22c-2 Shareholder Information Agreement entered into by the parties, the Employee shall obtain a copy Trust hereby waives enforcement rights of the then current Prospectus fund policies regarding market timing or frequent trading with respect to transfers of each Fund assets into which any exchange is requested to be made. The Employee authorizes and directs the Custodian to respond to any telephonic inquiries relating to the status of shares owned, including, but not limited to, the number of shares held. The Employee and the Employee's beneficiary(ies), assignees and successors understand and agree that the Sponsor, the Custodian, each Fund and The Dreyfus Corporation, and each of their respective officers, directors, trustees, general partners, affiliates, agents and employees, will not be held liable and will be fully protected by the Employee against any and all claims, liabilities, losses, damages and expenses (including attorneys' and accountants' fees) arising out of any exchange request effected in accordance with any telephone instructions. The Employee certifies and agrees that the certifications, authorizations, directions and restrictions contained herein or otherwise provided to the Custodian will continue in effect until the Custodian receives written notice of any change from Hartford sponsored dynamic or revocation. The Employee understands that each of the Funds and the Custodian reserves the right to refuse any telephonic instructions. All Fund Shares acquired by the Custodian for the benefit of the Employee shall be registered in the name of the Custodian or its nomineestatic asset allocation models.