Common use of SUBACCOUNTS Clause in Contracts

SUBACCOUNTS. The Subaccounts are separate investment accounts that together make up the Variable Account. The assets of each Subaccount are invested in a corresponding portfolio of a designated mutual fund. They are named in Section 1, Contract Data. Subaccount values will fluctuate in accordance with the investment experience of the applicable portfolio of the fund held within the Subaccount. The Subaccount value is equal to the number of Accumulation Units credited to the Subaccount times the appropriate Accumulation Unit value. The number of Accumulation Units to be purchased or redeemed in a transaction is found by dividing: (1) the dollar amount of the transaction; by (2) the Subaccount’s unit value for the Valuation Period for that transaction. The number of units in any Subaccount will be increased at the end of the Valuation Period by: (1) any Net Premiums allocated to the Subaccount during the current Valuation Period; and (2) any transfers to the Subaccount from another Subaccount or from the Fixed Account during the current Valuation Period. The number of units in any Subaccount will be decreased at the end of the Valuation Period by: (1) any amounts transferred from the Subaccount to another Subaccount or the Fixed Account; (2) amounts surrendered during the current Valuation Period. The number of units in any Subaccount will also be reduced on each Monthly Anniversary Day by a pro-rata share of the Monthly Deduction. The Monthly Deduction will reduce the Subaccount units in proportion to each Subaccount’s value to the entire Contract Value. The value of an Accumulation Unit for each of the Subaccounts was arbitrarily set at $10 when the first investments were bought. The value for any later Valuation Period is equal to: “A” is equal to the Subaccount’s Accumulation Unit value for the end of the immediately preceding Valuation Day. J177 “B” is equal to the Net Investment Factor for the most current Valuation Day. The Net Investment Factor equals: “X” equals the sum of: (1) the net asset value per Accumulation Unit held in the Subaccount at the end of the current Valuation Day; plus (2) the per Accumulation Unit amount of any dividend or capital gain distribution on shares held in the Subaccount during the current Valuation Day; less (3) the per Accumulation Unit amount of any capital loss distribution on shares held in the Subaccount during the current Valuation Day; less (4) the per Accumulation Unit amount of any taxes or any amount set aside during the Valuation Day as a reserve for taxes. “Y” equals the net asset value per Accumulation Unit held in the Subaccount as of the end of the immediately preceding Valuation Day.

SUBACCOUNTS. The Subaccounts are separate investment accounts that together make up the Variable Account. The assets of each Subaccount are invested in a corresponding portfolio of a designated mutual fund. They are named in Section 1, Contract Data. Subaccount values will fluctuate in accordance with the investment experience of the applicable portfolio of the fund held within the Subaccount. The Subaccount value is equal to the number of Accumulation Units credited to the Subaccount times the appropriate Accumulation Unit value. The number of Accumulation Units to be purchased or redeemed in a transaction is found by dividing: (1) the dollar amount of the transaction; by (2) the Subaccount’s unit value for the Valuation Period for that transaction. The number of units in any Subaccount will be increased at the end of the Valuation Period by: (1) any Net Premiums allocated to the Subaccount during the current Valuation Period; and (2) any transfers to the Subaccount from another Subaccount or from the Fixed Account during the current Valuation Period. The number of units in any Subaccount will be decreased at the end of the Valuation Period by: (1) any amounts transferred from the Subaccount to another Subaccount or the Fixed Account; (2) amounts surrendered during the current Valuation Period. The number of units in any Subaccount will also be reduced on each Monthly Anniversary Day by a pro-rata share of the Monthly Deduction. The Monthly Deduction will reduce the Subaccount units in proportion to each Subaccount’s value to the entire Contract Value. The value of an Accumulation Unit for each of the Subaccounts was arbitrarily set at $10 when the first investments were bought. The value for any later Valuation Period is equal to: “A” is equal to the Subaccount’s Accumulation Unit value for the end of the immediately preceding Valuation Day. J177 “B” is equal to the Net Investment Factor for the most current Valuation Day. The Net Investment Factor equals: “X” equals the sum of: (1) the net asset value per Accumulation Unit held in the Subaccount at the end of the current Valuation Day; plus (2) the per Accumulation Unit amount of any dividend or capital gain distribution on shares held in the Subaccount during the current Valuation Day; less (3) the per Accumulation Unit amount of any capital loss distribution on shares held in the Subaccount during the current Valuation Day; less (4) the per Accumulation Unit amount of any taxes or any amount set aside during the Valuation Day as a reserve for taxes. “Y” equals the net asset value per Accumulation Unit held in the Subaccount as of the end of the immediately preceding Valuation Day.

SUBACCOUNTS. The Subaccounts are separate investment accounts that together make up the Variable Account. The assets of each Subaccount are invested in a corresponding portfolio of a designated mutual fund. They are named in Section 1, Contract Data. Subaccount values will fluctuate in accordance with the investment experience of the applicable portfolio of the fund held within the Subaccount. The Subaccount value is equal to the number of Accumulation Units credited to the Subaccount times the appropriate Accumulation Unit value. The number of Accumulation Units to be purchased or redeemed in a transaction is found by dividing: (1) the dollar amount of the transaction; by (2) the Subaccount’s unit value for the Valuation Period for that transaction. The number of units in any Subaccount will be increased at the end of the Valuation Period by: (1) any Net Premiums allocated to the Subaccount during the current Valuation Period; and (2) any transfers to the Subaccount from another Subaccount or from the Fixed Account during the current Valuation Period. The number of units in any Subaccount will be decreased at the end of the Valuation Period by:: J176 (1) any amounts transferred from the Subaccount to another Subaccount or the Fixed Account; (2) amounts surrendered during the current Valuation Period. The number of units in any Subaccount will also be reduced on each Monthly Anniversary Day by a pro-rata share of the Monthly Deduction. The Monthly Deduction will reduce the Subaccount units in proportion to each Subaccount’s value to the entire Contract Value. The value of an Accumulation Unit for each of the Subaccounts was arbitrarily set at $10 when the first investments were bought. The value for any later Valuation Period is equal to: “A” is equal to the Subaccount’s Accumulation Unit value for the end of the immediately preceding Valuation Day. J177 “B” is equal to the Net Investment Factor for the most current Valuation Day. The Net Investment Factor equals: “X” equals the sum of: (1) the net asset value per Accumulation Unit held in the Subaccount at the end of the current Valuation Day; plus (2) the per Accumulation Unit amount of any dividend or capital gain distribution on shares held in the Subaccount during the current Valuation Day; less (3) the per Accumulation Unit amount of any capital loss distribution on shares held in the Subaccount during the current Valuation Day; less (4) the per Accumulation Unit amount of any taxes or any amount set aside during the Valuation Day as a reserve for taxes. “Y” equals the net asset value per Accumulation Unit held in the Subaccount as of the end of the immediately preceding Valuation Day.

SUBACCOUNTS. The Subaccounts are separate investment accounts that together make up the Variable Account. The assets of each Subaccount are invested in a corresponding portfolio of a designated mutual fund. They are named in Section 1, Contract Data. Subaccount values will fluctuate in accordance with the investment experience of the applicable portfolio of the fund held within the Subaccount. The Subaccount value is equal to the number of Accumulation Units credited to the Subaccount times the appropriate Accumulation Unit value. The number of Accumulation Units to be purchased or redeemed in a transaction is found by dividing: (1) the dollar amount of the transaction; by (2) the Subaccount’s unit value for the Valuation Period for that transaction. The number of units in any Subaccount will be increased at the end of the Valuation Period by: (1) any Net Premiums allocated to the Subaccount during the current Valuation Period; and (and 2) any transfers to the Subaccount from another Subaccount or from the Fixed Account during the current Valuation Period. The number of units in any Subaccount will be decreased at the end of the Valuation Period by: (1) any amounts transferred from the Subaccount to another Subaccount or the Fixed Account; (2) amounts surrendered during the current Valuation Period. The number of units in any Subaccount will also be reduced on each Monthly Anniversary Day by a pro-rata share of the Monthly Deduction. The Monthly Deduction will reduce the Subaccount units in proportion to each Subaccount’s value to the entire Contract Value. The value of an Accumulation Unit for each of the Subaccounts was arbitrarily set at $10 when the first investments were bought. The value for any later Valuation Period is equal to: “A” is equal to the Subaccount’s Accumulation Unit value for the end of the immediately preceding Valuation Day. J177 “B” is equal to the Net Investment Factor for the most current Valuation Day. The Net Investment Factor equals: “X” equals the sum of: (1) the net asset value per Accumulation Unit held in the Subaccount at the end of the current Valuation Day; plus (2) the per Accumulation Unit amount of any dividend or capital gain distribution on shares held in the Subaccount during the current Valuation Day; less (3) the per Accumulation Unit amount of any capital loss distribution on shares held in the Subaccount during the current Valuation Day; less (4) the per Accumulation Unit amount of any taxes or any amount set aside during the Valuation Day as a reserve for taxes. “Y” equals the net asset value per Accumulation Unit held in the Subaccount as of the end of the immediately preceding Valuation Day.