THE EQUITABLE LIFE ASSURANCE SOCIETY OF THE UNITED STATES
Effective as of January 1, 1989, we have amended your certificate issued
under Group Annuity Contract AC 5904 as follows:
1. On the first page, in the section entitled "Available Investment
Accounts", the term "Harmony Investment Trust" is replaced by "Prism
Investment Trust".
2. SECTION 1.03 SALARY REDUCTION AGREEMENT is replaced by the following:
SECTION 1.03 SALARY REDUCTION AGREEMENT
The term "Salary Reduction Agreement" means (i) an agreement between an
Employer and an employee of the Employer with the meaning of Section
1.403(b)-1(b)(3) of the Federal income tax regulations, under which the
employee agrees to accept a reduction in salary or to forego an increase
in salary and to have such amounts applied under the contract for the
employee's behalf or (ii) any program or arrangement (other than by use of
agreements described above) pursuant to which an Employer makes
contributions to the purchase of annuity meeting the requirements of
Section 403(b) of the Code.
3. SECTION 1.04 ANNUITY is replaced by the following:
SECTION 1.04 ANNUITY
The term "Annuity" means an annuity purchased in accordance with the terms
of a Salary Reduction Agreement, Plan or program, which annuity meets the
requirements of Section 403(b) of the Code.
4. SECTION 1.05 PARTICIPANT is replaced by the following:
SECTION 1.05 PARTICIPANT
The term "Participant" means a person who has been enrolled by the
Equitable under the Contract through an Administrative Agreement and for
whom the Employer has purchased an annuity under the Contract. An Annuity
is purchased for a person enrolled under the Contract when we receive an
initial Contribution from the Employer.
5. SECTION 1.06 ADMINISTRATIVE AGREEMENT is replaced by the following:
SECTION 1.06 ADMINISTRATIVE AGREEMENT
The term "Administrative Agreement" means a written understanding between
the Employer and Equitable which, among other things, may describe,
(i) procedures for facilitating the enrollment of Participants under
the Contract.
(ii) procedures pursuant to which Contributions may be made under the
Contract on behalf of Participants.
(iii) procedures for facilitating the communication to Particpiants of
information prepared by Equitable concerning the Contract and
enrollment and Contributions, thereunder, and
(iv) the extent to which the Employer will perform any services in
connection with the Contract which would otherwise be performed by
Equitable.
6. With respect to SECTION 1.08 DEFINITIONS RELATING TO THE GUARANTEED
RATE ACCOUNT, the terms "contribution" and "contributions" are
replaced by "Contribution" and "Contributions", respectively.
7. With respect to SECTION 1.08 DEFINITIONS RELATING TO THE GUARANTEED
RATE ACCOUNT, the term "Guarantee Accrued Value" is replaced by
"Accrued Value".
8. With respect to SECTION 1.08 DEFINITIONS RELATING TO THE GUARANTEED
RATE ACCOUNT, the paragraph entitled "ACCRUED VALUE" is replaced by
the following:
ACCRUED VALUE: A Participant's Accrued Value with respect to a particular
Guarantee will be equal to the sum of that Participant's Contributions
assigned to that Guarantee, including transfers, plus the amount of
interest credited to that Guarantee, including transfers, plus the amount
of interest credited with respect to that Guarantee, minus the sum of the
withdrawals made with respectto that Guarantee, including transfers and
Withdrawal Charges, defined below, and any applicable Participant Service
Charges, as set forth in Section 3.08. Such Accrued Value will be credited
with interest daily at an annual effective rate of interest equal to the
Guarantee Rate.
9. The following new sections are added to the certificate:
SECTION 1.12 CONTRIBUTION
The term "Contribution" means a payment made to Equitable for a
Participant with respect to an Annuity purchased for such Participant
under the Contract.
SECTION 1.13 ELECTIVE DEFERRALS
The "Elective Deferrals" means Contributions made pursuant to a Salary
Reduction Agreement. All references to Contributions in this certificate
include Elective Deferrals. The total amount of Elective Deferrals under
the Plan and all other plans, contracts or arrangements of the Employer
for any calendar year may not exceed the amount of the limitation in
effect under Section 402(g)(1) of the Code. Equitable is not responsible
for compliance with Section 402(g)(1) of the Code.
10. With respect to SECTION 3.01 ACCOUNTS, the second paragraph is
replaced by the following:
Any amounts withdrawn from an Investment Account will no longer be part of
the General Account or the applicable Investment Division and upon such
withdrawal, and Equitable will be released from any liability for payments
with respect to the Contributions from which the amounts so withdrawn
arose. Such payments may be deferred by Equitable in accordance with the
provisions of Section 5.06.
11. With respect to SECTION 3.03 CONTRIBUTIONS, the terms "contribution"
and "contributions" are replaced by "Contribution" and
"Contributions", respectively.
12. With respect to SECTION 3.03 CONTRIBUTIONS, the term "Internal Revenue
Code" is replaced by "Code".
13. With respect to SECTION 3.04 ALLOCATIONS, the terms "contribution" and
"contributions" are replaced by "Contribution" and "Contributions",
respectively.
14. With respect to SECTION 3.04 ALLOCATIONS, the term "Money Market
Investment Account" is replaced by "Money Market Investment Division".
15. The following paragraphs are added after the first paragraph of
SECTION 3.06 PARTIAL WITHDRAWALS:
Notwithstanding anything to the contrary in this section, in accordance
with Section 403(b)(11) of the Code, a Participant may not make a
withdrawal of amounts attributable to (1) Elective Deferrals, including
earnings thereon, made on or after January 1, 1989, or (2) earnings
credited on or after January 1, 1989, on Contributions made prior to
January 1, 1989. Distributions of these restricted amounts may be made
only when the Participant attains age 59 1/2, separates from service,
dies, becomes disabled (within the meaning of Section 72(m)(7) of the
Code) or in the case of hardship, as defined by the Plan or Salary
Reduction Agreement. However, in the case of hardship, only amounts
attributable to Elective Deferrals, excluding earnings, may be withdrawn.
For any request for withdrawal which includes amounts attributable to
Elective Deferrals, including earnings thereon, contributed on or after
January 1, 1989, if the Participant does not satisfy any of the conditions
referred to above, the Participant will be given the option of modifying
the withdrawal request to exclude such amounts. If the Participant does
not modify the withdrawal request, Equitable will exercise its right to
terminate participation under the Contract pursuant to Section 5.10.
16. The following sentence is added to SECTION 5.10 DISQUALIFICATION:
In the event that the Participant makes a partial withdrawal from the
Investment Divisions of restricted amounts described in Section 3.06 for
reasons other than those described in Section 3.06, Equitable shall
terminate participation with respect to that Participant under the
Contract and pay to such Participant the sum of the Cash Value of the
Participant's Guaranteed Rate Account and the Account Balances of the
Participant's other Investment Accounts, less a deduction for any
applicable Participant Service Charge and for the appropriate part
attributable to such Participant of any Federal income tax payable by
Equitable which would not have been payable if such Participant had an
Annuity under the Contract.
SPECIMEN Vice President SPECIMEN President
and Secretary
