Common use of NET AMOUNT AT RISK Clause in Contracts

NET AMOUNT AT RISK. A. The IBNAR (Income Benefit Net Amount at Risk) for each variable annuity contract reinsured hereunder shall be equal to the following: IBNAR = Maximum [( IBB * ( MAPR / SAPR ) - Account Value), 0] * REINSURER's Quota Share Percentage where: - The INCOME BENEFIT BASE (IBB) is as defined in Schedule A - The MINIMUM ANNUITY PURCHASE RATE (MAPR) per $1000 is calculated using the following assumptions: Mortality Table: [*] Age Setback: None Mortality Improvement: [*] Unisex Blend: Sex distinct only Interest Rate: [*] all years Expenses: None Premium Taxes: Applied by state of residence and market Age: Attained age nearest birthday on exercise date Frequency of Payment: Monthly or quarterly or annually Annuity Form: Limited to a Life Annuity with a 10 Year Period Certain or Joint and Survivor Life Annuity with 20 Year Period Certain. For qualified plans: period certain to meet IRS requirement. - The SETTLEMENT ANNUITY PURCHASE RATE (SAPR) per $1000, which is used at time of annuitization for reinsurance claims settlement, is calculated using the following assumptions: Mortality Table: [*] Age Setback: None Mortality Improvement: [*] Unisex Blend: Sex distinct only Interest Rate: The yield on the most recently auctioned [*]-Year U.S. Treasury Security (i.e., "on-the-run"), as posted in the Wall Street Journal, at the beginning of the month in which annuitization occurs minus [*] Basis Points. That interest rate shall never be less than [*]. If there is Manufacturers Life of NY, Agreement No. 2001-41NY (GMIB) Page 4 Effective September 17 2001

NET AMOUNT AT RISK. A. The IBNAR (Income Benefit Net Amount at Risk) for each variable annuity contract reinsured hereunder shall be equal to the following: IBNAR = Maximum [( IBB * ( MAPR / SAPR ) - Account Value), 0] * REINSURER's Quota Share Percentage where: - The INCOME BENEFIT BASE (IBB) is as defined in Schedule A - The MINIMUM ANNUITY PURCHASE RATE (MAPR) per $1000 is calculated using the following assumptions: Mortality Table: [*] 1983 IAM Valuation Table (see Exhibit I) Age Setback: None Mortality Improvement: [*] Projection Scale G for 35 years (see Exhibit I) Unisex Blend: Montana: 25% male/75% female All other states: Sex distinct only Interest Rate: [*] 2.5% all years Expenses: None Premium Taxes: Applied by state of residence and market Age: Attained age nearest birthday on exercise date Frequency of Payment: Monthly or quarterly or annually Annuity Form: Limited to a Life Annuity with a 10 Year Period Certain or Joint and Survivor Life Annuity with 20 Year Period Certain. For qualified plans: period certain to meet IRS requirement. - The SETTLEMENT ANNUITY PURCHASE RATE (SAPR) per $1000, which is used at time of annuitization for reinsurance claims settlement, is calculated using the following assumptions: Mortality Table: [*] 1983 IAM Basic Table (see Exhibit I) Age Setback: None Mortality Improvement: [*] Projection Scale G until year of annuitization (see Exhibit I) Unisex Blend: Montana: 100% male All other states: Sex distinct only Interest Rate: The yield on the most recently auctioned [*]-Year 7-Year U.S. Treasury Security (i.e., "on-the-run"), as posted in the Wall Street Journal, at the beginning of the month in which annuitization occurs minus [*] 35 Basis Points. That interest rate shall never be less than [*]1.5%. If there is Manufacturers ARTICLE IV, NET AMOUNT AT RISK (Continued) no recent 7-Year U.S. Treasury Security posted, then the linear interpolation of the 5-Year and 10-Year U. S. Treasury Security as posted by the Wall Street Journal will be used in lieu of the 7-Year rate. The 7-Year linear interpolated rate will be calculated using 60% of the 5-Year rate plus 40% of the 10-Year rate. Expenses: None Premium Taxes: Applied by state of residence and market Age: Attained age nearest birthday on exercise date Frequency of Payment: Monthly or quarterly or annually Annuity Form: Limited to a Life Annuity with a 10 Year Period Certain or Joint and Survivor Life Annuity with 20 Year Period Certain. For qualified plans: period certain to meet IRS requirement. B. The actual annuity purchase rates offered by the CEDING COMPANY at time of NY, Agreement Noannuitization under the Income Program may differ from those defined above. 2001-41NY (GMIB) Page 4 Effective September 17 2001The annuity rates defined above are used for settlement of reinsurance claims only. C. Premium taxes will be applied on a consistent basis between the MAPR and SAPR to calculate the IBNAR. D. The IBNAR for each contract reinsured hereunder shall be calculated as of the last day of each calendar month prior to the termination of liability contingencies set forth in Article II.

NET AMOUNT AT RISK. A. The IBNAR (Income Benefit Net Amount at Risk) for each variable annuity contract reinsured hereunder shall be equal to the following: IBNAR = Maximum [( IBB * ( MAPR / SAPR ) - Account Value), 0] * REINSURER's Quota Share Percentage where: - The INCOME BENEFIT BASE (IBB) is as defined in Schedule A - The MINIMUM ANNUITY PURCHASE RATE (MAPR) per $1000 is calculated using the following assumptions: Mortality Table: [*] Age Setback: None Mortality Improvement: [*] Unisex Blend: Montana: [*]/[*] All other states: Sex distinct only Interest Rate: [*] all years Expenses: None Premium Taxes: Applied by state of residence and market Age: Attained age nearest birthday on exercise date Frequency of Payment: Monthly or quarterly or annually Annuity Form: Limited to a Life Annuity with a 10 Year Period Certain or Joint and Survivor Life Annuity with 20 Year Period Certain. For qualified plans: period certain to meet IRS requirement. - The SETTLEMENT ANNUITY PURCHASE RATE (SAPR) per $1000, which is used at time of annuitization for reinsurance claims settlement, is calculated using the following assumptions: Mortality Table: [*] Age Setback: None Mortality Improvement: [*] Unisex Blend: [*] All other states: Sex distinct only Interest Rate: The yield on the most recently auctioned [*]-Year U.S. Treasury Security (i.e., "on-the-run"), as posted in the Wall Street Journal, at the beginning of the month in which annuitization occurs ] minus [*] Basis Points. That interest rate shall never be less than [*]. ] If there is Manufacturers Life of NYN.A., Agreement No. 2001-41NY 48 (GMIB) Page 4 Effective September 17 July 1, 2001

NET AMOUNT AT RISK. A. The IBNAR (Income Benefit Net Amount at Risk) for each variable annuity contract reinsured hereunder shall be equal to the following: IBNAR = Maximum [( IBB * ( MAPR / SAPR ) - Account Value), 0] * REINSURER's Quota Share Percentage where: - The INCOME BENEFIT BASE (IBB) is as defined in Schedule A - The MINIMUM ANNUITY PURCHASE RATE (MAPR) per $1000 is calculated using the following assumptions: Mortality Table: [*] 1983 IAM Valuation Table (see Exhibit I) Age Setback: None Mortality Improvement: [*] Projection Scale G for 35 years (see Exhibit I) Unisex Blend: Montana: 25% male/75% female All other states: Sex distinct only Interest Rate: [*] 2.5% all years Expenses: None Premium Taxes: Applied by state of residence and market Age: Attained age nearest birthday on exercise date Frequency of Payment: Monthly or quarterly or annually Annuity Form: Limited to a Life Annuity with a 10 Year Period Certain or Joint and Survivor Life Annuity with 20 Year Period Certain. For qualified plans: period certain to meet IRS requirement. - The SETTLEMENT ANNUITY PURCHASE RATE (SAPR) per $1000, which is used at time of annuitization for reinsurance claims settlement, is calculated using the following assumptions: Mortality Table: [*] 1983 IAM Basic Table (see Exhibit I) Age Setback: None Mortality Improvement: [*] Projection Scale G until year of annuitization (see Exhibit I) Unisex Blend: Montana: 100% male All other states: Sex distinct only Interest Rate: The yield on the most recently auctioned [*]-Year 7-Year U.S. Treasury Security (i.e., "on-the-run"), as posted in the Wall Street Journal, at the beginning of the month in which annuitization occurs minus [*] 35 Basis Points. That interest rate shall never be less than [*]1.5%. If there is Manufacturers Life of NY, Agreement No. 2001-41NY (GMIB) Page 4 Effective September 17 2001is