Common use of Number of Accumulation Units Clause in Contracts

Number of Accumulation Units. On the Issue Date, the number of Accumulation Units in each subaccount is equal to the Initial Purchase Payment amount allocated to that subaccount, divided by that subaccount’s Accumulation Unit Value. At the end of each Business Day, we adjust the number of Accumulation Units in each subaccount as follows. Additional Purchase Payments and Transfers into a subaccount will increase the number of Accumulation Units. Withdrawals (including any applicable Withdrawal Charges), Transfers out of a subaccount, and the deduction of any Contract Charges or Transfer Fees will decrease the number of Accumulation Units. The change in the number of Accumulation Units is equal to the net amount allocated to or deducted from the subaccount, divided by that subaccount’s Accumulation Unit Value. We arbitrarily set the initial Accumulation Unit Value for each subaccount. At the end of each Business Day for each subaccount, we multiply the Accumulation Unit Value at the end of the prior Business Day by the percentage change in value of a Variable Option since the prior Business Day. The percentage change includes the market performance of the Variable Option and any assessed Mortality and Expense Risk Charge. On the first Term Start Date, the Index Option Value and Index Option Base for each Index Option are equal to: • The portion of the Initial Purchase Payment allocated to that Index Option, if the Index Effective Date is the Issue Date; or • The portion of Variable Account Value allocated to that Index Option, if the Index Effective Date is not the Issue Date. At the end of each Business Day other than the Term Start Date or Term End Date, the Index Option Value is equal to the Index Option Base plus its Daily Adjustment. We establish a Proxy Value to calculate the Daily Adjustment. The Proxy Value is determined on each Business Day based on the value of a hypothetical set of put and call options as determined by an option pricing formula. The Daily Adjustment is calculated before we process any Partial Withdrawal or deduct any Contract Charges using the Index Option Base, the current Proxy Value, and the Proxy Value as of the Term Start Date. At the end of each Business Day, we reduce each Index Option Value by the dollar amount withdrawn from the Index Option, including any Withdrawal Charge, and Contract Charges. We deduct money from an Index Option proportionately based on the percentage of Contract Value in each Allocation Option, unless you specify otherwise. We then reduce each Index Option Base by the same percentage that the amount withdrawn reduced its associated Index Option Value. On each Term End Date, we calculate the Index Option Value for each Index Option(s) by applying its associated Performance Credit to its Index Option Base. If the Term End Date is not a Business Day, we calculate the Performance Credit on the next Business Day. L40538-NY03 9 Contract Value continued from the previous page How we calculate Index Option Values (continued) On each Term End Date, we determine the Index Return for each Index Option. The Index Return is the Index Value for the Term End Date, minus the Index Value from the Term Start Date, divided by the Index Value from the Term Start Date. If the Term Start Date or Term End Date is not a Business Day, we use the Index Value on the next Business Day. If, for any Index Option, there is a Cap, and the Index Return multiplied by the Participation Rate, if applicable, is positive and greater than or equal to the Cap for an Index Option, then the Performance Credit for the Index Option is equal to the Cap. If the Index Return multiplied by the Participation Rate, if applicable, is positive, but less than the Cap, or if we declare an Index Performance Strategy Index Option is uncapped, then the Performance Credit for that Index Option is equal to the Index Return multiplied by the Participation Rate, if applicable. If, for any Index Option, the Index Return is zero or negative, but within the Buffer, then the Performance Credit for that Index Option is zero. If the Index Return is negative and extends beyond the Buffer, then the Performance Credit for that Index Option is equal to the Index Return plus the Buffer. For each Index Option that receives a Performance Credit, we multiply its Performance Credit by its Index Option Base. This result is then added to its Index Option Base. We then set each Index Option Value equal to its Index Option Base. Finally, on each Term End Date, for each Index Option we: • Increase its Index Option Value and Index Option Base by the amount of any Additional Purchase Payments and Transfers into the Index Option received that day; • Reduce its Index Option Value and Index Option Base by the amount transferred out of the Index Option; and • Reduce its Index Option Value and Index Option Base for Withdrawals (including any Withdrawal Charge) and Contract Charges as described above. You can request a Performance Lock of the current Index Option Value for any of your unlocked Index Options by providing an Authorized Request. We process the request on the Lock Date based on the values at the end of the Business Day. Compared with what you would have received as a Performance Credit on the Term End Date, if you exercise a Performance Lock on an Index Performance Strategy Index Option(s) or the Index Protection NY Strategy Index Options you may receive less than the full protection of the Buffer, or if uncapped, less than the full Index Return multiplied by the Participation Rate over the Term. Once an Index Option Value has been locked: • The Index Option Value will not change until the next Index Anniversary that occurs on or immediately after the Lock Date, unless it is reduced for Withdrawals and any other Contract Charges; • The locked Index Option will not receive a Performance Credit on the Term End Date; and • You cannot unlock the Index Option. On the Index Anniversary that occurs on or immediately after the Lock Date, we will unlock the Index Option Value, set the Index Option Base equal to the Index Option Value and reallocate the Index Option Value according to your new allocation instructions. If you have not provided new allocation instructions, we will reallocate the Index Option Value into the same Index Option with a new Term. L40538-NY03 9

Number of Accumulation Units. On the Issue Date, the number of Accumulation Units in each a subaccount is equal to the Initial Purchase Payment amount allocated to that the subaccount, divided by that the subaccount’s Accumulation Unit Value. At the end of each Business Day, we adjust the number of Accumulation Units in each a subaccount as follows. Additional Purchase Payments and Transfers into a subaccount will increase the number of Accumulation Units. Withdrawals (including any applicable Withdrawal Charges), Transfers out of a subaccount, and the deduction of any Contract Charges or Transfer Fees except the Mortality and Expense Risk Charge will decrease the number of Accumulation Units. The change in the number of Accumulation Units is equal to the net amount allocated to or deducted from the subaccount, divided by that the subaccount’s Accumulation Unit Value. Contract Value continued from the previous page We arbitrarily set the initial Accumulation Unit Value for each a subaccount. At the end of each Business Day for each a subaccount, we multiply the Accumulation Unit Value at the end of the prior Business Day by the percentage change in value price of a Variable Option since the prior Business Day. The percentage change in price includes the market performance of the Variable Option and any assessed Mortality and Expense Risk Charge. On the first Term Start Date, the Index Option Value and Index Option Base for each Index Option are equal to: • The portion to the amount of any Purchase Payments and Transfers into the Initial Purchase Payment allocated to that Index Option, if the Index Effective Date is the Issue Date; or • The portion of Variable Account Value allocated to that Index Option, if the Index Effective Date is not the Issue Date. At the end of each Business Day other than the Term Start Date or Term End Date, the Index Option Value is equal to the Index Option Base plus its Daily Adjustment. We establish a Proxy Value to calculate the Daily Adjustment. The Proxy Value is determined on each Business Day based on the value of a hypothetical set of put and call options as determined by an option pricing formula. The Daily Adjustment is calculated before we process any Partial Withdrawal (including any Withdrawal Charges) or deduct any Contract Charges using the Index Option Base, the current Proxy Value, and the Proxy Value as of the Term Start Date. At the end of each Business DayDay other than a Term End Date, after the Daily Adjustment has been applied, we reduce each Index Option Value by the dollar amount withdrawn from the Index Option, including any Withdrawal Charge, Charge and any applicable Contract Charges. We deduct money from an Index Option proportionately based on the percentage of Contract Value in each Allocation Option, unless you specify otherwise. We then reduce each Index Option Base by the same percentage that the amount withdrawn reduced its associated Index Option Value. On each Term End Date, we calculate the Index Option Value for each Index Option(s) by applying its associated Performance Credit to its Index Option Base. If the Term End Date is not a Business Day, we calculate the Performance Credit on the next Business Day. L40538-NY03 9 Contract Value continued from the previous page How we calculate Index Option Values (continued) On each Term End Date, we determine the Index Return for each Index Option. The Index Return is the Index Value for the Term End Date, minus the Index Value from the Term Start Date, divided by the Index Value from the Term Start Date. If the Term Start Date or Term End Date is not a Business Day, we use the Index Value on the next Business Day. IfFor the Index Performance Strategy Index Options, for any Index Option, there is a Cap, and if the Index Return multiplied by the Participation Rate, if applicable, is positive and greater than or equal to the Cap for an Index Option, then the Performance Credit for the Index Option is equal to the Cap. If the Index Return multiplied by the Participation Rate, if applicable, is positive, but less than the Cap, or if we declare an Index Performance Strategy Index Option is uncapped, then the Performance Credit for that Index Option is equal to the Index Return multiplied by the Participation Rate, if applicable. If, for any Index Option, If the Index Return is zero or negative, but within or equal to the Buffer, then the Performance Credit for that Index Option is zero. If the Index Return is negative and extends beyond the Buffer, then the Performance Credit for that Index Option is equal to the Index Return plus the Buffer. For the Index Precision Strategy Index Options, if the current Index Value is equal to or greater than its value on the Term Start Date, then the Performance Credit is the Trigger Rate. If the Index Return is negative but within or equal to the Buffer, then the Performance Credit for the Index Option is zero. If the Index Return is negative and extends beyond the Buffer, then the Performance Credit for the Index Option is equal to the Index Return plus the Buffer. For the Index Dual Precision Strategy Index Options, if the Index Return is positive, zero, or negative but within or equal to the Buffer, then the Performance Credit is the Trigger Rate. If the Index Return is negative and extends beyond the Buffer, then the Performance Credit for the Index Option is equal to the Index Return plus the Buffer. For each Index Option that receives a Performance Credit, we multiply its Performance Credit by its Index Option Base. This result is then added to its Index Option Base. We then set each Index Option Value equal to its Index Option Base. Finally, on each Term End Date, for each Index Option we: • Increase its Index Option Value and Index Option Base by the amount of any Additional Purchase Payments and Transfers into the Index Option received that day; • Reduce its Index Option Value and Index Option Base by the amount transferred out of the Index Option; and • Reduce its Index Option Value and Index Option Base for Withdrawals (including any Withdrawal Charge) and Contract Charges as described above. You can request a Performance Lock of the current Index Option Value for any of your unlocked Index Options by providing an Authorized Request. We process the request on the Lock Date based on the values at the end of the Business Day. Compared with what you would have received as a Performance Credit on the Term End Date, if you exercise a Performance Lock on an Index Performance Strategy Index Option(s) or the Index Protection NY Strategy Index Options you may receive less than the full protection of the Buffer, or if uncapped, less than the full Index Return multiplied by the Participation Rate over the Term. Once an Index Option Value has been locked: • The Index Option Value will not change until the next Index Anniversary that occurs on or immediately after the Lock Date, unless it is reduced for Withdrawals and any other applicable Contract Charges; • The locked Index Option will not receive a Performance Credit on the Term End Date; and • You cannot unlock the Index Option. On the Index Anniversary that occurs on or immediately after the Lock Date, we will unlock the Index Option Value, set the Index Option Base equal to the Index Option Value and reallocate the Index Option Value according to your new allocation instructions. If you have not provided new allocation instructions, we will reallocate the Index Option Value into the same Index Option with a new Term. L40538-NY03 9.

Number of Accumulation Units. On the Issue Date, the number of Accumulation Units in each subaccount is equal to the Initial Purchase Payment amount allocated to that subaccount, divided by that subaccount’s Accumulation Unit Value. At the end of each Business Day, we adjust the number of Accumulation Units in each subaccount as follows. Additional Purchase Payments and Transfers into a subaccount will increase the number of Accumulation Units. Withdrawals (including any applicable Withdrawal Charges), Transfers out of a subaccount, and the deduction of any Contract Charges or Transfer Fees will decrease the number of Accumulation Units. The change in the number of Accumulation Units is equal to the net amount allocated to or deducted from the subaccount, divided by that subaccount’s Accumulation Unit Value. We arbitrarily set the initial Accumulation Unit Value for each subaccount. At the end of each Business Day for each subaccount, we multiply the Accumulation Unit Value at the end of the prior Business Day by the percentage change in value of a Variable Option since the prior Business Day. The percentage change includes the market performance of the Variable Option and any assessed Mortality and Expense Risk Charge. On the first Term Start Index Effective Date, the Index Option Value and Index Option Base for each Index Option are equal to: • · The portion of the Initial Purchase Payment allocated to that Index Option, if the Index Effective Date is the Issue Date; or • · The portion of Variable Account Value allocated to that Index Option, if the Index Effective Date is not the Issue Date. At the end of each Business Day other than the Term Start Index Effective Date or Term End DateIndex Anniversary, the Index Option Value is equal to the Index Option Base plus its Daily Adjustment. We establish a Proxy Value to calculate the Daily Adjustment. The Proxy Value is determined on each Business Day based on the value of a hypothetical set of put and call options as determined by an option pricing formula. The Daily Adjustment is calculated before we process any Partial Withdrawal or deduct any Contract Charges using the Index Option Base, the current Proxy Value, and the Proxy Value as of the Term Start Dateprevious Index Anniversary (or the Index Effective Date if this is the first Index Year). At the end of each Business Day, we reduce each Index Option Value by the dollar amount withdrawn from the Index Option, including any Withdrawal Charge, and Contract Charges. We deduct money from an Index Option proportionately based on the percentage of Contract Value in each Allocation Option, unless you specify otherwise. We then reduce each Index Option Base by the same percentage that the amount withdrawn reduced its associated Index Option Value. On each Term End DateIndex Anniversary, we calculate the Index Option Value for each Index Option(s) Performance Strategy Index Option by applying its associated Performance Credit to its Index Option Base. If the Term End Date Index Anniversary is not a Business Day, we calculate the Performance Credit on the next Business Day. L40538-NY03 9 NY 8 Contract Value continued from the previous page How we calculate Index Option Values (continued) On each Term End Datethe Index Anniversary, we determine the Index Return for each Index Option. The Index Return is the Index Value for the Term End Datecurrent Index Anniversary, minus the Index Value from the Term Start Dateprevious Index Anniversary (or the Index Effective Date if this is the first Index Anniversary), divided by the Index Value from the Term Start Dateprevious Index Anniversary (or the Index Effective Date if this is the first Index Anniversary). If the Term Start Date or Term End Date is not a Business Day, we use the Index Value on the next Business Day. If, for any Index Option, there is a Cap, and the Index Return multiplied by the Participation Rate, if applicable, is positive and greater than or equal to the Cap for an Index Option, then the Performance Credit for the that Index Option is equal to the Cap. If the Index Return multiplied by the Participation Rate, if applicable, is positive, but less than the Cap, or if we declare an Index Performance Strategy Index Option is uncapped, then the Performance Credit for that Index Option is equal to the Index Return multiplied by the Participation Rate, if applicableReturn. If, for any Index Option, If the Index Return is zero or negative, but within the Buffer, then the Performance Credit for that Index Option is zero. If the Index Return is negative and extends beyond the Buffer, then the Performance Credit for that Index Option is equal to the Index Return plus the Buffer. For each Index Option that receives a Performance Credit, we multiply its Performance Credit by its Index Option Base. This result is then added to its Index Option Base. We then set each Index Option Value equal to its Index Option Base. FinallyThen, on each Term End DateIndex Anniversary, for each Index Option we: • · Increase its Index Option Value and Index Option Base by the amount of any Additional Purchase Payments and Transfers into the Index Option received that day; • · Reduce its Index Option Value and Index Option Base by the amount transferred out of the Index Option; and • · Reduce its Index Option Value and Index Option Base for Withdrawals (including any Withdrawal Charge) and Contract Charges as described above. You can request a Performance Lock of the current Index Option Value for any of your unlocked Index Options by providing an Authorized Request. We process the request on the Lock Date Business Day we receive an Authorized Request based on the values at the end of the Business Day. Compared with what you would have received as a Performance Credit on the Term End Date, if If you exercise a Performance Lock on an Index Performance Strategy Index Option(s) or the Index Protection NY Strategy Index Options Lock, you may receive less than the full protection of the Buffer, Cap or if uncapped, less than the full protection of the Buffer that you would have received if you waited for us to apply the Performance Credit on the next Index Return multiplied by the Participation Rate over the TermAnniversary. Once an Index Option Value has been locked: • · The Index Option Value will not change until the next Index Anniversary that occurs on or immediately after the Lock DateAnniversary, unless it is reduced for Withdrawals and any other Contract Charges; • · The locked Index Option will not receive a Performance Credit on the Term End Datenext Index Anniversary; and • · You cannot unlock the Index Option. On the every Index Anniversary that occurs on or immediately after the Lock DateAnniversary, we will unlock the any previously locked Index Option Value, set the Index Option Base equal to the Index Option Value and reallocate the Index Option Value according to your new allocation instructions. If you have not provided new allocation instructions, we will reallocate the Index Option Value into the same Index Option with a new Term. L40538-NY03 9Values.

Number of Accumulation Units. On the Issue Date, the number of Accumulation Units in each subaccount is equal to the Initial Purchase Payment amount allocated to that subaccount, divided by that subaccount’s 's Accumulation Unit Value. At the end of each Business Day, we adjust the number of Accumulation Units in each subaccount as follows. Additional Purchase Payments and Transfers into a subaccount will increase the number of Accumulation Units. Withdrawals (including any applicable Withdrawal Charges), Transfers out of a subaccount, and the deduction of any Contract Charges or Transfer Fees will decrease the number of Accumulation Units. The change in the number of Accumulation Units is equal to the net amount allocated to or deducted from the subaccount, divided by that subaccount’s 's Accumulation Unit Value. We arbitrarily set the initial Accumulation Unit Value for each subaccount. At the end of each Business Day for each subaccount, we multiply the Accumulation Unit Value at the end of the prior Business Day by the percentage change in value of a Variable Option since the prior Business Day. The percentage change includes the market performance of the Variable Option and any assessed Mortality and Expense Risk ChargeOption. On the first Term Start Index Effective Date, the Index Option Value and Index Option Base for each Index Option are equal to: • · The portion of the Initial Purchase Payment allocated to that Index Option, if the Index Effective Date is the Issue Date; or • · The portion of Variable Account Value allocated to that Index Option, if the Index Effective Date is not the Issue Date. At the end of each Business Day other than the Term Start Index Effective Date or Term End DateIndex Anniversary, the Index Option Value is equal to the Index Option Base plus its Daily Adjustment. We establish a Proxy Value to calculate the Daily Adjustment. The Proxy Value is determined on each Business Day based on the value of a hypothetical set of put and call options as determined by an option pricing formula. The Daily Adjustment is calculated before we process any Partial Withdrawal or deduct any Contract Charges using the Index Option Base, the current Proxy Value, and the Proxy Value as of the Term Start Dateprevious Index Anniversary (or the Index Effective Date if this is the first Index Year). At the end of each Business Day, we reduce each Index Option Value by the dollar amount withdrawn from the Index Option, including any Withdrawal Charge, and Contract Charges. We deduct money from an Index Option proportionately based on the percentage of Contract Value in each Allocation Option, unless you specify otherwise. We then reduce each Index Option Base by the same percentage that the amount withdrawn reduced its associated Index Option Value. On each Term End DateIndex Anniversary, we calculate the Index Option Value for each Index Option(s) Performance Strategy Index Option and Index Protection NY Strategy Index Option by applying its associated Performance Credit to its Index Option Base. If the Term End Date Index Anniversary is not a Business Day, we calculate the Performance Credit on the next Business Day. L40538-NY03 9 NY018 Contract Value continued from the previous page How we calculate Index Option Values (continued) On each Term End Datethe Index Anniversary, we determine the Index Return for each Index Option. The Index Return is the Index Value for the Term End Datecurrent Index Anniversary, minus the Index Value from the Term Start Dateprevious Index Anniversary (or the Index Effective Date if this is the first Index Anniversary), divided by the Index Value from the Term Start Dateprevious Index Anniversary (or the Index Effective Date if this is the first Index Anniversary). If the Term Start Date or Term End Date is not a Business Day, we use the Index Value on the next Business Day. If, for any Index Option, there is a Cap, and the Index Return multiplied by the Participation Rate, if applicable, is positive and greater than or equal to the Cap for an Index Option, then the Performance Credit for the that Index Option is equal to the Cap. If the Index Return multiplied by the Participation Rate, if applicable, is positive, but less than the Cap, or if we declare an Index Performance Strategy Index Option is uncapped, then the Performance Credit for that Index Option is equal to the Index Return multiplied by the Participation Rate, if applicableReturn. If, for any Index Option, If the Index Return is zero or negative, but within the Buffer, then the Performance Credit for that Index Option is zero. If the Index Return is negative and extends beyond the Buffer, then the Performance Credit for that Index Option is equal to the Index Return plus the Buffer. For each Index Option that receives a Performance Credit, we multiply its Performance Credit by its Index Option Base. This result is then added to its Index Option Base. We then set each Index Option Value equal to its Index Option Base. FinallyThen, on each Term End DateIndex Anniversary, for each Index Option we: • · Increase its Index Option Value and Index Option Base by the amount of any Additional Purchase Payments and Transfers into the Index Option received that day; • · Reduce its Index Option Value and Index Option Base by the amount transferred out of the Index Option; and • · Reduce its Index Option Value and Index Option Base for Withdrawals (including any Withdrawal Charge) and Contract Charges as described above. You can request a Performance Lock of the current Index Option Value for any of your unlocked Index Options by providing an Authorized Request. We process the request on the Lock Date based on Business Day we receive an Authorized Request, and you will receive the values Daily Adjustment at the end of the that Business Day. Compared with what you would have received as a Performance Credit on the Term End Date, if If you exercise a Performance Lock on an Lock, the locked Index Performance Strategy Index Option(s) or Option will not receive the Daily Adjustment for the remainder of the Index Protection NY Strategy Index Options you may receive less than the full protection of the Buffer, or if uncapped, less than the full Index Return multiplied by the Participation Rate over the TermYear. Once an Index Option Value has been locked: • · The Index Option Value will not change until the next Index Anniversary that occurs on or immediately after the Lock DateAnniversary, unless it is reduced for Withdrawals and any other Contract Charges; • · The locked Index Option will not receive a Performance Credit on the Term End Datenext Index Anniversary; and • · You cannot unlock the Index Option. On the every Index Anniversary that occurs on or immediately after the Lock DateAnniversary, we will unlock the any previously locked Index Option Value, set the Index Option Base equal to the Index Option Value and reallocate the Index Option Value according to your new allocation instructions. If you have not provided new allocation instructions, we will reallocate the Index Option Value into the same Index Option with a new TermValues. L40538-NY03 9NY018

Number of Accumulation Units. On the Issue Date, the number of Accumulation Units in each subaccount is equal to the Initial Purchase Payment amount allocated to that subaccount, divided by that subaccount’s 's Accumulation Unit Value. At the end of each Business Day, we adjust the number of Accumulation Units in each subaccount as follows. Additional Purchase Payments and Transfers into a subaccount will increase the number of Accumulation Units. Withdrawals (including any applicable Withdrawal Charges), Transfers out of a subaccount, and the deduction of any Contract Charges or Transfer Fees will decrease the number of Accumulation Units. The change in the number of Accumulation Units is equal to the net amount allocated to or deducted from the subaccount, divided by that subaccount’s 's Accumulation Unit Value. We arbitrarily set the initial Accumulation Unit Value for each subaccount. At the end of each Business Day for each subaccount, we multiply the Accumulation Unit Value at the end of the prior Business Day by the percentage change in value of a Variable Option since the prior Business Day. The percentage change includes the market performance of the Variable Option and any assessed Mortality and Expense Risk Charge. On the first Term Start Index Effective Date, the Index Option Value and Index Option Base for each Index Option are equal to: • · The portion of the Initial Purchase Payment allocated to that Index Option, if the Index Effective Date is the Issue Date; or • · The portion of Variable Account Value allocated to that Index Option, if the Index Effective Date is not the Issue Date. At the end of each Business Day other than the Term Start Index Effective Date or Term End DateIndex Anniversary, the Index Option Value is equal to the Index Option Base plus its Daily Adjustment. We establish a Proxy Value to calculate the Daily Adjustment. The Proxy Value is determined on each Business Day based on the value of a hypothetical set of put and call options as determined by an option pricing formula. The Daily Adjustment is calculated before we process any Partial Withdrawal or deduct any Contract Charges using the Index Option Base, the current Proxy Value, and the Proxy Value as of the Term Start Dateprevious Index Anniversary (or the Index Effective Date if this is the first Index Year). At the end of each Business Day, we reduce each Index Option Value by the dollar amount withdrawn from the Index Option, including any Withdrawal Charge, and Contract Charges. We deduct money from an Index Option proportionately based on the percentage of Contract Value in each Allocation Option, unless you specify otherwise. We then reduce each Index Option Base by the same percentage that the by whichthe amount withdrawn reduced its associated Index Option Value. On each Term End DateIndex Anniversary, we calculate the Index Option Value for each Index Option(s) Option by applying its associated Performance Credit to its Index Option Base. If the Term End Date Index Anniversary is not a Business Day, we calculate the Performance Credit on the next Business Day. L40538-NY03 9 Contract Value continued from the previous page How we calculate Index Option Values (continued) On each Term End Datethe Index Anniversary, we determine the Index Return for each Index Option. The Index Return is the Index Value for the Term End Datecurrent Index Anniversary, minus the Index Value from the Term Start Dateprevious Index Anniversary (or the Index Effective Date if this is the first Index Anniversary), divided by the Index Value from the Term Start Dateprevious Index Anniversary (or the Index Effective Date if this is the first Index Anniversary). If the Term Start Date or Term End Date is not a Business Day, we use the Index Value on the next Business Day. If, for any Index Option, there is a Cap, and the Index Return multiplied by the Participation Rate, if applicable, is positive and greater than or equal to the Cap for an Index Option, then the Performance Credit for the that Index Option is equal to the Cap. If the Index Return multiplied by the Participation Rate, if applicable, is positive, but less than the Cap, or if we declare an Index then the Performance Strategy Credit for that Index Option is uncappedequal to the Index Return. If the Index Return is zero or negative, but within the Buffer, then the Performance Credit for that Index Option is zero. If the Index Return is negative and extends beyond the Buffer, then the Performance Credit for that Index Option is equal to the Index Return multiplied by plus the Participation Buffer. If the Index Value is equal to or greater than its value on the last Index Anniversary (or the Index Effective Date if this is the first Index Anniversary), then the Performance Credit is the Precision Rate, if applicable. If, for any Index Option, If the Index Return is zero or negative, but within the Buffer, then the Performance Credit for that Index Option is zero. If the Index Return is negative and extends beyond the Buffer, then the Performance Credit for that Index Option is equal to the Index Return plus the Buffer. For each Index Option that receives a Performance Credit, we multiply its Performance Credit by its Index Option Base. This result is then added to its Index Option Base. We then set each Index Option Value equal to its Index Option Base. FinallyThen, on each Term End DateIndex Anniversary, for each Index Option we: • · Increase its Index Option Value and Index Option Base by the amount of any Additional Purchase Payments and Transfers received that day into the Index Option received that dayOption; • · Reduce its Index Option Value and Index Option Base by the amount transferred out of the Index Option; and • · Reduce its Index Option Value and Index Option Base for Withdrawals (including any Withdrawal Charge) and Contract Charges as described above. You can request a Performance Lock of the current Index Option Value for any of your unlocked Index Options by providing an Authorized Request. We process the request on the Lock Date based on Business Day we receive an Authorized Request, and you will receive the values Daily Adjustment at the end of the that Business Day. Compared with what you would have received as a Performance Credit on the Term End Date, if If you exercise a Performance Lock on an Lock, the locked Index Performance Strategy Index Option(s) or Option will not receive the Daily Adjustment for the remainder of the Index Protection NY Strategy Index Options you may receive less than the full protection of the Buffer, or if uncapped, less than the full Index Return multiplied by the Participation Rate over the TermYear. Once an Index Option Value has been locked: • · The Index Option Value will not change until the next Index Anniversary that occurs on or immediately after the Lock DateAnniversary, unless it is reduced for Withdrawals and any other Contract Charges; • · The locked Index Option will not receive a Performance Credit on the Term End Datenext Index Anniversary; and • · You cannot unlock the Index Option. On the every Index Anniversary that occurs on or immediately after the Lock DateAnniversary, we will unlock the Index Option Value, set the Index Option Base equal to the Index Option Value and reallocate the then we unlock any previously locked Index Option Value according to your new allocation instructions. If you have not provided new allocation instructions, we will reallocate the Index Option Value into the same Index Option with a new Term. L40538-NY03 9Values.

Number of Accumulation Units. On the Issue Date, the number of Accumulation Units in each subaccount is equal to the Initial Purchase Payment amount allocated to that subaccount, divided by that subaccount’s 's Accumulation Unit Value. At the end of each Business Day, we adjust the number of Accumulation Units in each subaccount as follows. Additional Purchase Payments and Transfers into a subaccount will increase the number of Accumulation Units. Withdrawals (including any applicable Withdrawal Charges), Transfers out of a subaccount, and the deduction of any Contract Charges or Transfer Fees will decrease the number of Accumulation Units. The change in the number of Accumulation Units is equal to the net amount allocated to or deducted from the subaccount, divided by that subaccount’s 's Accumulation Unit Value. We arbitrarily set the initial Accumulation Unit Value for each subaccount. At the end of each Business Day for each subaccount, we multiply the Accumulation Unit Value at the end of the prior Business Day by the percentage change in value of a Variable Option since the prior Business Day. The percentage change includes the market performance of the Variable Option and any assessed Mortality and Expense Risk ChargeOption. On the first Term Start Index Effective Date, the Index Option Value and Index Option Base for each Index Option are equal to: • · The portion of the Initial Purchase Payment allocated to that Index Option, if the Index Effective Date is the Issue Date; or • · The portion of Variable Account Value allocated to that Index Option, if the Index Effective Date is not the Issue Date. At the end of each Business Day other than the Term Start Index Effective Date or Term End DateIndex Anniversary, the Index Option Value is equal to the Index Option Base plus its Daily Adjustment. We establish a Proxy Value to calculate the Daily Adjustment. The Proxy Value is determined on each Business Day based on the value of a hypothetical set of put and call options as determined by an option pricing formula. The Daily Adjustment is calculated before we process any Partial Withdrawal or deduct any Contract Charges using the Index Option Base, the current Proxy Value, and the Proxy Value as of the Term Start Dateprevious Index Anniversary (or the Index Effective Date if this is the first Index Year). At the end of each Business Day, we reduce each Index Option Value by the dollar amount withdrawn from the Index Option, including any Withdrawal Charge, and Contract Charges. We deduct money from an Index Option proportionately based on the percentage of Contract Value in each Allocation Option, unless you specify otherwise. We then reduce each Index Option Base by the same percentage that the amount withdrawn reduced its associated Index Option Value. On each Term End DateIndex Anniversary, we calculate the Index Option Value for each Index Option(s) Performance Strategy Index Option and Index Protection NY Strategy Index Option by applying its associated Performance Credit to its Index Option Base. If the Term End Date Index Anniversary is not a Business Day, we calculate the Performance Credit on the next Business Day. L40538-NY03 9 NY01 Contract Value continued from the previous page How we calculate Index Option Values (continued) On each Term End Datethe Index Anniversary, we determine the Index Return for each Index Option. The Index Return is the Index Value for the Term End Datecurrent Index Anniversary, minus the Index Value from the Term Start Dateprevious Index Anniversary (or the Index Effective Date if this is the first Index Anniversary), divided by the Index Value from the Term Start Dateprevious Index Anniversary (or the Index Effective Date if this is the first Index Anniversary). If the Term Start Date or Term End Date is not a Business Day, we use the Index Value on the next Business Day. If, for any Index Option, there is a Cap, and the Index Return multiplied by the Participation Rate, if applicable, is positive and greater than or equal to the Cap for an Index Option, then the Performance Credit for the that Index Option is equal to the Cap. If the Index Return multiplied by the Participation Rate, if applicable, is positive, but less than the Cap, or if we declare an Index Performance Strategy Index Option is uncapped, then the Performance Credit for that Index Option is equal to the Index Return multiplied by the Participation Rate, if applicableReturn. If, for any Index Option, If the Index Return is zero or negative, but within the Buffer, then the Performance Credit for that Index Option is zero. If the Index Return is negative and extends beyond the Buffer, then the Performance Credit for that Index Option is equal to the Index Return plus the Buffer. For each Index Option that receives a Performance Credit, we multiply its Performance Credit by its Index Option Base. This result is then added to its Index Option Base. We then set each Index Option Value equal to its Index Option Base. FinallyThen, on each Term End DateIndex Anniversary, for each Index Option we: • · Increase its Index Option Value and Index Option Base by the amount of any Additional Purchase Payments and Transfers into the Index Option received that day; • · Reduce its Index Option Value and Index Option Base by the amount transferred out of the Index Option; and • · Reduce its Index Option Value and Index Option Base for Withdrawals (including any Withdrawal Charge) and Contract Charges as described above. You can request a Performance Lock of the current Index Option Value for any of your unlocked Index Options by providing an Authorized Request. We process the request on the Lock Date based on Business Day we receive an Authorized Request, and you will receive the values Daily Adjustment at the end of the that Business Day. Compared with what you would have received as a Performance Credit on the Term End Date, if If you exercise a Performance Lock on an Lock, the locked Index Performance Strategy Index Option(s) or Option will not receive the Daily Adjustment for the remainder of the Index Protection NY Strategy Index Options you may receive less than the full protection of the Buffer, or if uncapped, less than the full Index Return multiplied by the Participation Rate over the TermYear. Once an Index Option Value has been locked: • · The Index Option Value will not change until the next Index Anniversary that occurs on or immediately after the Lock DateAnniversary, unless it is reduced for Withdrawals and any other Contract Charges; • · The locked Index Option will not receive a Performance Credit on the Term End Datenext Index Anniversary; and • · You cannot unlock the Index Option. On the every Index Anniversary that occurs on or immediately after the Lock DateAnniversary, we will unlock the any previously locked Index Option Value, set the Index Option Base equal to the Index Option Value and reallocate the Index Option Value according to your new allocation instructions. If you have not provided new allocation instructions, we will reallocate the Index Option Value into the same Index Option with a new TermValues. L40538-NY03 9NY0