Common use of VALUATION PROVISIONS Clause in Contracts

VALUATION PROVISIONS. NET PREMIUM PAYMENTS The net premium payment is equal to the premium payment minus any applicable Premium Taxes We may deduct. The net premium payment is applied to purchase Fixed Account values or Sub-Account Accumulation Units with respect to the Sub-Account(s) that You have selected. The number of Accumulation Units credited to each Sub-Account is determined by dividing the Net Premium payment allocated to a Sub-Account by the dollar value of one Accumulation Unit for such Sub-Account. This is computed in compliance with Securities and Exchange Commission regulations. The number of Accumulation Units will not be affected by any subsequent change in the value of such Accumulation Units. The Accumulation Unit value in any Sub-Account may increase or decrease from day to day as described below. We will determine the value of the Fixed Account(s) by crediting interest to amounts allocated to the Fixed Account(s). The Minimum Fixed Account Interest Rate is the rate shown on Page 3, compounded annually. At Our discretion, We may credit interest rates greater than the Minimum Fixed Account Interest Rate. We may change the rate or rates credited in accordance with applicable law. NET INVESTMENT FACTOR The net investment factor for each of the Sub-Accounts is equal to: a) the Net Asset Value Per Share of the corresponding Fund at the end of the Valuation Period (plus the per share amount of any unpaid dividends or capital gains by that Fund); divided by b) the Net Asset Value Per Share of the corresponding Fund at the beginning of the Valuation Period; minus c) the mortality and expense risk charge and any applicable administration charge, shown on Page 3 adjusted for the number of days in the Valuation Period; minus d) the Optional Death Benefit Charge, if applicable, shown on Page 3, adjusted for the number of days in the Valuation Period. The Fixed Account net investment factor is guaranteed to be at least equal to the Minimum Fixed Account Interest Rate shown on Page 3. ACCUMULATION UNIT VALUE The value of an Accumulation Unit for each Sub-Account of the Separate Account will vary to reflect the investment experience of the applicable Funds. It will be determined by multiplying: a) the value of the Accumulation Unit for that Sub-Account as of the preceding Valuation Day by b) the Net Investment Factor for that Sub-Account for the Valuation Day for which the Accumulation Unit value is being calculated. The value of the Sub-Account as of each Valuation Day is then determined by multiplying: a) the number of Accumulation Units in that Sub-Account by b) the Accumulation Unit value as of that Valuation Day. VALUATION PROVISIONS (CONTINUED) ANNUITY UNIT VALUE The value of an Annuity Unit for each Sub-Account of the Separate Account will vary to reflect the investment experience of the applicable Funds. It will be determined by multiplying: a) the value of the Annuity Unit for that Sub-Account as of the preceding Valuation Day by; b) the Net Investment Factor for that Sub-Account for the Valuation Day for which the Annuity Unit value is being calculated; and by c) the Annuity Unit Factor.

VALUATION PROVISIONS. NET PREMIUM PAYMENTS The net premium payment is equal to the premium payment minus any applicable Premium Taxes We may deductTaxes. The net premium payment is applied to purchase provide Fixed Account values or Sub-Account Accumulation Units with respect to the Sub-Account(s) that You have selectedselected by the Contract Owner. The number of Accumulation Units credited to each Sub-Account is determined by dividing the Net Premium net premium payment allocated to a Sub-Account by the dollar value of one Accumulation Unit for such Sub-Account. This is , next computed in compliance with Securities and Exchange Commission regulationsafter the receipt of a premium payment by the Company. The number of Accumulation Units so determined will not be affected by any subsequent change in the value of such Accumulation Units. The Accumulation Unit value in any Sub-Account may increase or decrease from day to day as described below. We The Company will determine the value of the Fixed Account(s) Account by crediting interest to amounts allocated to the Fixed Account(s)Account. The Minimum minimum Fixed Account Interest Rate interest rate is the rate shown on Page 3, compounded annually. At Our The Company, at its discretion, We may credit interest rates greater than the Minimum minimum Fixed Account Interest Rateinterest rate. We may change the rate or rates credited in accordance with applicable law. VALUATION PROVISIONS (Continued) NET INVESTMENT FACTOR The net investment factor for each of the Sub-Accounts is equal to: a) to the Net Asset Value Per Share net asset value per share of the corresponding Fund at the end of the Valuation Period valuation period (plus the per share amount of any unpaid dividends or capital gains by that Fund); ) divided by b) the Net Asset Value Per Share net asset value per share of the corresponding Fund at the beginning of the Valuation Period; minus c) valuation period and subtracting from that amount the mortality and expense risk charge and any applicable the administration charge, shown on Page 3 adjusted for the number of days in the Valuation Period; minus d) the Optional Death Benefit Charge, if applicable, charge shown on Page 3, adjusted for the number of days in the Valuation Period. The Fixed General Account net investment factor is guaranteed to be at least equal to the Minimum Fixed Account Interest Rate shown on Page 3. ACCUMULATION UNIT VALUE The value of an Accumulation Unit Value for each Sub-Account of the Separate Account will vary to reflect the investment experience of the applicable Funds. It Fund and will be determined on each Valuation Day by multiplying: a) the value of multiplying the Accumulation Unit for that Value of the particular Sub-Account as of on the preceding Valuation Day by b) the Net Investment Factor net investment factor for that Sub-Account for the Valuation Day for which the Accumulation Unit value is being calculatedvaluation period then ended. The value of the Sub-Account as of on each Valuation Day is then determined by multiplying: a) multiplying the number of Accumulation Units in that Sub-Account by b) the Accumulation Unit value as of Value on that Valuation Day. VALUATION PROVISIONS (CONTINUED) ANNUITY UNIT VALUE The value of an Annuity Unit for each Sub-Account of the Separate Account will vary to reflect the investment experience of the applicable Funds. It Funds and will be determined by multiplying: a) multiplying the value of the Annuity Unit for that Sub-Account as of on the preceding Valuation Day by; bday by the product of (a) the Net Investment Factor net investment factor for that Sub-Account for the Valuation Day day for which the Annuity Unit value is being calculated; , and by c(b) 0.999866, which is a factor that neutralizes an assumed interest rate of 5%. CONTRACT MAINTENANCE FEE During each year that this contract is in force prior to the Annuity Commencement Date, a fee will be deducted from the contract at the end of the Contract Year or on the date of surrender of this contract, if earlier. The fee will be charged against the Contract Value by reducing the Fixed Account value and, with respect to the Sub-Accounts, the number of Accumulation Units held on that date on a pro-rata basis with respect to each active Account. The number of Accumulation Units deducted from the Sub-Account is determined by dividing the pro-rata portion of the Contract Maintenance Fee applicable to that Sub-Account, by the value of an Accumulation Unit Factor.for the Sub-Account at the end of the Contract Year, or on the date of surrender, as applicable. TERMINATION PROVISIONS TERMINATION PRIOR TO THE ANNUITY COMMENCEMENT DATE FULL SURRENDER At any time prior to the Annuity Commencement Date, the Contract Owner has the right to terminate the contract by submitting a written request to the Administrative Office of the Company. In such event, the Termination Value of the contract may be taken in the form of a cash settlement. 10 TERMINATION PROVISIONS (Continued) The Termination Value of the contract is equal to the Contract Value less

VALUATION PROVISIONS. NET PREMIUM PAYMENTS The net premium payment is equal to the premium payment minus any applicable Premium Taxes We may deductTaxes. The net premium payment is applied to purchase provide Fixed Account values or Sub-Account Accumulation Units with respect to the Sub-Account(s) that You have selectedselected by the Contract Owner. The number of Accumulation Units credited to each Sub-Account is determined by dividing the Net Premium net premium payment allocated to a Sub-Account by the dollar value of one Accumulation Unit for such Sub-Account. This is , next computed in compliance with Securities and Exchange Commission regulationsafter the receipt of a premium payment by the Company. The number of Accumulation Units so determined will not be affected by any subsequent change in the value of such Accumulation Units. The Accumulation Unit value in any Sub-Account may increase or decrease from day to day as described below. We The Company will determine the value of the Fixed Account(s) Account by crediting interest to amounts allocated to the Fixed Account(s)Account. The Minimum minimum Fixed Account Interest Rate interest rate is the rate shown on Page 3, compounded annually. At Our The Company, at its discretion, We may credit interest rates greater than the Minimum minimum Fixed Account Interest Rateinterest rate. We may change the rate or rates credited in accordance with applicable law. VALUATION PROVISIONS (Continued) NET INVESTMENT FACTOR The net investment factor for each of the Sub-Accounts is equal to: a) to the Net Asset Value Per Share net asset value per share of the corresponding Fund at the end of the Valuation Period valuation period (plus the per share amount of any unpaid dividends or capital gains by that Fund); ) divided by b) the Net Asset Value Per Share net asset value per share of the corresponding Fund at the beginning of the Valuation Period; minus c) valuation period and subtracting from that amount the mortality and expense risk charge and any applicable the administration charge, charge shown on Page 3 adjusted for the number of days in the Valuation Period; minus d) the Optional Death Benefit Charge, if applicable, shown on Page page 3, adjusted for the number of days in the Valuation Period. The Fixed General Account net investment factor is guaranteed to be at least equal to the Minimum Fixed Account Interest Rate shown on Page 3. ACCUMULATION UNIT VALUE The value of an Accumulation Unit Value for each Sub-Account of the Separate Account will vary to reflect the investment experience of the applicable Funds. It Fund and will be determined on each Valuation Day by multiplying: a) the value of multiplying the Accumulation Unit for that Value of the particular Sub-Account as of on the preceding Valuation Day by b) the Net Investment Factor net investment factor for that Sub-Account for the Valuation Day for which the Accumulation Unit value is being calculatedvaluation period then ended. The value of the Sub-Account as of on each Valuation Day is then determined by multiplying: a) multiplying the number of Accumulation Units in that Sub-Account by b) the Accumulation Unit value as of Value on that Valuation Day. VALUATION PROVISIONS (CONTINUED) ANNUITY UNIT VALUE The value of an Annuity Unit for each Sub-Account of the Separate Account will vary to reflect the investment experience of the applicable Funds. It Funds and will be determined by multiplying: a) multiplying the value of the Annuity Unit for that Sub-Account as of on the preceding Valuation Day by; bday by the product of (a) the Net Investment Factor net investment factor for that Sub-Account for the Valuation Day day for which the Annuity Unit value is being calculated; , and by c(b) 0.999866, which is a factor that neutralizes an assumed interest rate of 5%. CONTRACT MAINTENANCE FEE During each year that contract is in force prior to the Annuity Commencement Date, a fee will be deducted from the contract at the end of the Contract Year or on the date of surrender of this contract, if earlier. The fee will be charged against the Contract Value by reducing the Fixed Account value and. With respect to the Sub-Accounts, the number of Accumulation Units held on that date on a pro-rata basis with respect to each active Account. The number of Accumulation Units deducted from the Sub-Account is determined by dividing the pro-rata portion of the Contract Maintenance Fee applicable to that Sub-Account, by the value of an Accumulation Unit Factor.for the Sub-Account at the end of the Contract Year, or on the date of surrender, as applicable. TERMINATION PROVISIONS TERMINATION PRIOR TO THE ANNUITY COMMENCEMENT DATE FULL SURRENDER At any time prior to the Annuity Commencement Date, the Contract Owner has the right to terminate the contract by submitting a written request to the Administrative Office of the Company, In such event. The Termination Value of the contract may be taken in the form of a cash settlement. 10 TERMINATION PROVISIONS (Continued) The Termination Value of the contract is equal to the Contract Value less:

VALUATION PROVISIONS. NET PREMIUM PAYMENTS CONTRIBUTIONS -- The net premium payment contribution to the contract on behalf of a Participant is equal to the premium payment minus total contributions made on behalf of that Participant less any applicable Premium Taxes We may deductpremium taxes. The net premium payment contribution for the Fixed Account or Separate Account(s) (determined in accordance with the account allocation percentages elected) is applied to purchase provide Fixed Account values or Sub-XXXXXX XXXX LIFE INSURANCE COMPANY [LOGO] Separate Account Accumulation Units with respect to the Sub-Account(s) that You have selectedaccumulation units. The number of Accumulation Units accumulation units credited to each Sub-a Separate Account is determined by dividing the Net Premium payment allocated to a Sub-Account net contribution for that account by the dollar value of one Accumulation Unit for such Sub-Accountaccumulation unit next computed after the receipt of the contribution by the Company. This is computed in compliance Distributed earnings with Securities and Exchange Commission regulationsrespect to the underlying fund(s) will be credited to the Contract Owner by increasing the value of units of interest held under this contract, not by increasing the number of accumulation units held under this contract. The number of Accumulation Units accumulation units so determined will not be affected by any subsequent change in the value of such Accumulation Unitsaccumulation units. The Accumulation Unit accumulation unit value in any Sub-a Separate Account may decrease or increase or decrease from day to day as described specified below. We will determine NET INVESTMENT RATE AND NET INVESTMENT FACTOR -- The Fixed Account net investment rate applicable to this contract for any day is guaranteed to be at least the rate shown under the contract specifications section of this contract. The net investment rate for each subaccount in each of the Separate Account(s) for any day is equal to the gross investment rate for such subaccount expressed in decimal form to at least six decimal places, less applicable deductions by the Company for mortality and expense, income option, and administrative undertakings are shown on the Contract Specifications page of the contract. The gross investment rate for a subaccount is (a) its investment income for the valuation day plus its capital gains and minus its capital losses, whether realized or unrealized, and less a deduction for any applicable taxes arising from the income and the realized and unrealized capital gains attributable to that subaccount, divided by (b) the value of that subaccount on the Fixed Account(s) by crediting interest to amounts allocated to the Fixed Account(s)previous valuation day. The Minimum Fixed Account Interest Rate is the rate shown on Page 3, compounded annually. At Our discretion, We may credit interest rates greater than the Minimum Fixed Account Interest Rate. We may change the rate or rates credited in accordance with applicable law. NET INVESTMENT FACTOR The net investment factor for each subaccount is the sum of 1.000000 plus the net investment rate for that account. SEGREGATION OF SEPARATE ACCOUNT ASSETS -- That portion of the Sub-Accounts is equal to: a) the Net Asset Value Per Share assets of the corresponding Fund at the end of the Valuation Period (plus the per share amount of any unpaid dividends or capital gains by that Fund); divided by b) the Net Asset Value Per Share of the corresponding Fund at the beginning of the Valuation Period; minus c) the mortality and expense risk charge and any applicable administration charge, shown on Page 3 adjusted for the number of days in the Valuation Period; minus d) the Optional Death Benefit Charge, if applicable, shown on Page 3, adjusted for the number of days in the Valuation Period. The Fixed a Separate Account net investment factor is guaranteed to be at least equal to the Minimum Fixed Account Interest Rate shown on Page 3. ACCUMULATION UNIT VALUE The value of an Accumulation Unit for each Sub-Account reserves and other contract liabilities of the Separate Account will vary to reflect shall not be chargeable with liabilities arising out of any other business the investment experience Company may conduct. The assets of a Separate Account are segregated from all other assets of the applicable Funds. It will be determined by multiplying: a) Company and are subject only to the value claims of the Accumulation Unit for that Sub-Account as of the preceding Valuation Day by b) the Net Investment Factor for that Sub-Account for the Valuation Day for which the Accumulation Unit value is being calculated. The value of the Sub-Account as of each Valuation Day is then determined by multiplying: a) the number of Accumulation Units contracts participating in that Sub-Account by b) the Accumulation Unit value as of that Valuation Day. VALUATION PROVISIONS (CONTINUED) ANNUITY UNIT VALUE The value of an Annuity Unit for each Sub-Account of the such Separate Account will vary to reflect the investment experience of the applicable Funds. It will be determined by multiplying: a) the value of the Annuity Unit for that Sub-Account as of the preceding Valuation Day by; b) the Net Investment Factor for that Sub-Account for the Valuation Day for which the Annuity Unit value is being calculated; and by c) the Annuity Unit FactorAccount.