Exhibit 4(c)
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PURCHASE PAYMENT CREDIT ENDORSEMENT
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This Endorsement is made part of Your Contract to which it is attached and is
effective on the date stated below :
[CONTRACT OWNER:] [XXXX XXX]
CONTRACT NUMBER: [SPECIMEN]
EFFECTIVE DATE: [JANUARY 1, 2003]
The "Purchase Payment Credit" provision in Your Contract is deleted and replaced
with the following:
PURCHASE PAYMENT CREDIT
We will add a Purchase Payment Credit to this Contract with each Purchase
Payment that is applied on or after the effective date of this rider. The
Purchase Payment Credit will be equal to the Purchase Payment multiplied by the
Purchase Payment Credit Percentage. Each Purchase Payment Credit will be applied
on a pro rata basis to the Investment Options in the same ratio as the
applicable Purchase Payment.
The Purchase Payment Credit Percentage reflected in the Contract Specification
page will remain in effect for the first Contract Year and is based upon the
oldest age of the Owner/Annuitant on the Contract Effective Date. The Purchase
Payment Credit percentage to be applied after the first contract year will be
based upon the oldest age of the Owner/Annuitant on the date the Purchase
Payment is credited to Your Contract as follows:
Age 69 and under: [5]%
Age 70 through Age 80: [4]%
Purchase Payment Credits will be deducted from any refund amount under the
following circumstances:
(a) upon return of this Contract during the Right to Examine Period;
(b) due to death of the Owner or Annuitant (with no Contingent Annuitant
surviving) during the 12 months following the application of any
Purchase Payment Credit; or
(c) termination of this Contract during the 12 months following the
application of any Purchase Payment Credit.
When a Purchase Payment Credit is deducted from a refund amount as described
above, You retain any gains and We incur any losses attributable to that
Purchase Payment Credit. Additionally, if a Purchase Payment Credit is deducted
from a refund amount, no withdrawal charge will be assessed on that Purchase
Payment Credit.
/s/ Xxxxxx X. Xxxxxxx
PRESIDENT
