Common use of Guarantee Benefit Fee Clause in Contracts

Guarantee Benefit Fee. An annual fee will be deducted from the Contract Value. Great-West of New York will begin deducting the Guarantee Benefit Fee as follows: • from Covered Fund Value attributable to investment in a Great-West SecureFoundation Lifetime Fund, ten years before the “target date” of that Covered Fund; • from Covered Fund Value attributable to investment in all other Covered Funds, at the time Contributions and deposits are paid into the corresponding Variable Account. Because the Benefit Base cannot exceed the “Benefit Base Cap” listed on the Contract Data Page, Great-West of New York will not assess the Guarantee Benefit Fee on the Contract Value that exceeds the “Benefit Base Cap” listed on the Contract Data Page. One-twelfth of the Guarantee Benefit Fee is deducted on a monthly basis in arrears, and will be paid by redeeming the number of Covered Fund shares or units equal in value to the Guarantee Benefit Fee amount. The percentage amount of the Guarantee Benefit Fee will not be lower than 0.70% and not higher than 1.5%, on an annualized basis, of the Contract Value attributable to investment in the Covered Fund. Great-West of New York shall inform the Owner of the current percentage amount of the Guarantee Benefit Fee. Great-West of New York reserves the right to change the amount of and the frequency of the deduction of the Guarantee Benefit Fee, and will notify the Owner in writing at least 30 calendar days before any such change. The GLWB will terminate if Great-West of New York does not receive the Guarantee Benefit Fee assessed on the date it is due. The Guarantee Benefit Fee is not deducted during the Settlement Phase.

Guarantee Benefit Fee. An annual fee will be deducted from the Contract Covered Fund Value. Great-West of New York will begin deducting the Guarantee Benefit Fee as follows: • from Covered Fund Value attributable to investment in a Great-West SecureFoundation Lifetime Fund, ten years before the “target date” of that Covered Fund; • from Covered Fund Value attributable to investment in all other Covered Funds, at the time Contributions and deposits are paid into the corresponding Variable Account. Because the Benefit Base cannot exceed the “Benefit Base Cap” listed on the Contract Data Page$5,000,000, Great-West of New York will not assess the Guarantee Benefit Fee on the an Owner’s Contract Value that exceeds the “Benefit Base Cap” listed on the Contract Data Page$5 million. One-twelfth of the Guarantee Benefit Fee is deducted on a monthly basis in arrears, and will be paid by redeeming the number of Covered Fund shares or units equal in value to the Guarantee Benefit Fee amount. The percentage amount of the Guarantee Benefit Fee will not be lower than [0.70% %] and not higher than [1.5%, on an annualized basis, ] of the Owner’s Contract Value attributable to investment in the Covered Fund. Great-West of New York shall inform the Owner of the current percentage amount of the Guarantee Benefit Fee. Great-West of New York reserves the right to change the amount of and the frequency of the deduction of the Guarantee Benefit Fee, and will notify the Owner in writing at least 30 thirty (30) calendar days before any such change. The GLWB will terminate for an Owner if Great-West of New York does not receive the Guarantee Benefit Fee assessed on his or her Contract Value the on the date it is due. The Guarantee Benefit Fee is not deducted during the Settlement Phase.

Guarantee Benefit Fee. An The amount of the annual fee Guarantee Benefit Fee is set forth on the Certificate Data page. The Guarantee Benefit Fee will be deducted from the Contract ValueGLWB Elector’s Covered Fund Value up to $5 million. Great-West of New York Any Covered Fund Value exceeding $5 million will begin deducting not factor into the Guarantee Benefit Fee as follows: • from Covered Fund Value attributable to investment in a Great-West SecureFoundation Lifetime Fund, ten years before the “target date” of that Covered Fund; • from Covered Fund Value attributable to investment in all other Covered Funds, at the time Contributions and deposits are paid into the corresponding Variable Accountcalculation. Because the Benefit Base cannot exceed the “Benefit Base Cap” listed on the Contract Data Page, Great-West of New York will not assess the Guarantee Benefit Fee on the Contract Value that exceeds the “Benefit Base Cap” listed on the Contract Data Page. One-twelfth [One- twelfth] of the Guarantee Benefit Fee is deducted on a monthly [monthly] basis in arrears, and will be paid by redeeming the number of Covered Fund shares or units equal in value to the Guarantee Benefit Fee amount. The percentage amount of the Guarantee Benefit Fee will not be lower than 0.70% and not higher than 1.5%, on an annualized basis, of the Contract Value attributable to investment in the Covered Fund. Great-West reserves the right to change the frequency of New York the deduction, but will notify the GLWB Elector and the Group Contractholder in writing at least thirty (30) calendar days prior to the change. Great-West shall inform the Certificate Owner of the current percentage amount of the Guarantee Benefit Fee. The Guarantee Benefit Fee will be divided by [twelve] on the date Great-West charges the fee. The Guarantee Benefit Fee is withdrawn from the Covered Fund, and Great-West is authorized to cause the custodian to remit the Guarantee Benefit Fee when due, if applicable. The Guarantee Benefit Fee begins at the end of New York the month of the Certificate Election Date. Great-West reserves the right to change the amount of and the frequency of the deduction of the Guarantee Benefit Fee, Fee at any time and for any reason upon thirty (30) days written notice to the GLWB Elector and Certificate Owner. Any change to the fee will notify affect all assets in the Owner in writing at least 30 calendar days before any such changeCovered Fund(s). The GLWB will terminate if If Great-West of New York does not receive the Guarantee Benefit Fee assessed on for the GLWB attributed to the GLWB Elector, the GLWB attributed to such GLWB Elector will terminate as of the date it such Guarantee Benefit Fee is due. The Guarantee Benefit Fee is not deducted during the GLWB Elector’s Settlement Phase.

Guarantee Benefit Fee. An annual fee will be deducted from the Contract Value. Great-West of New York will begin deducting the Guarantee Benefit Fee as follows: • from Covered Fund Value attributable to investment in a Great-West SecureFoundation Lifetime Fund, ten years before the “target date” of that Covered Fund; • from Covered Fund Value attributable to investment in all other Covered Funds, at the time Contributions and deposits are paid into the corresponding Variable Account. Because the Benefit Base cannot exceed the “Benefit Base Cap” listed on the Contract Data Page, Great-West of New York will not assess the Guarantee Benefit Fee on the Contract Value that exceeds the “Benefit Base Cap” listed on the Contract Data Page. One-twelfth of the Guarantee Benefit Fee is deducted on a monthly basis in arrears, and will be paid by redeeming the number of Covered Fund shares or units equal in value to the Guarantee Benefit Fee amount. The percentage amount of the Guarantee Benefit Fee will not be lower than 0.70% and not higher than 1.5%, on an annualized basis, of the Contract Value attributable to investment in the Covered Fund. Great-West of New York Great‑West shall inform the Owner of the current percentage amount of the Guarantee Benefit Fee. Great-West of New York Great‑West reserves the right to change the amount of and the frequency of the deduction of the Guarantee Benefit Fee, and will notify the Owner in writing at least 30 calendar days before any such change. The GLWB will terminate if Great-West of New York does not receive the Guarantee Benefit Fee assessed on the date it is due. The Guarantee Benefit Fee is not deducted during the Settlement Phase.