CONSECO VARIABLE INSURANCE COMPANY
Home Office: Amarillo, Texas
Administrative: 00000 X. Xxxxxxxxxxxx Xxxxxx, Xxxxxx, Xxxxxxx 00000
Telephone: (000) 000-0000
Endorsement
The contract to which this endorsement is attached is amended as follows:
Conseco Variable Insurance Company (Conseco Variable) makes certain guarantees
regarding this contract, herein described as the Expenses Guarantee Agreement.
Conseco Variable shall guarantee that the total of the investment management
fees charged against any of the Conseco Series Trust (Trust) Separate Portfolios
(Portfolios) whose shares are purchased by Conseco Variable Variable Annuity
Account C (Separate Account), plus mortality and expense risk, administrative
and any other charges imposed upon the assets of the corresponding Sub-accounts
of the Separate Account, will not exceed an amount that is equal to the total
amount of the same charges that would have been imposed under the contracts had
the Agreement and Plan of Reorganization (the Combination) not occurred.
Accordingly, Conseco Variable will reimburse to the appropriate Sub-account of
the Separate Account an amount that represents the difference between the
investment management fees charged to the Bond Account, Stock Account or Money
Market Account, as applicable, prior to the Combination and of such fees charge
to the Trust Portfolios, plus any other charges in excess of those that would
have been incurred if the Combination had not taken place. The mortality and
expense risk will not change, and any other charges imposed on the assets of the
Separate Account are recurring expenses of the Trust, such as legal claims and
liabilities, litigation cost and indemnification payments in connection with
litigation. Also, the Expense Guarantee Agreement will not apply to any federal
income tax if the Trust or any Portfolio fails to qualify as a Regulated
Investment Company under applicable provisions of the Internal Revenue code.
The Expense Guarantee Agreement described above also applies to contracts issued
after the combination. Conseco Variable, however, may amend the Contract to
eliminate the Expense Guarantee Agreement regarding contracts issued any time
after the Combination. In all other respects, the contract is unchanged.
Secretary
22-7141(12/92) Page 1
CONSECO VARIABLE INSURANCE COMPANY
Home Office: Amarillo, Texas
Administrative Office: 00000 X. Xxxxxxxxxxxx Xxxxxx, Xxxxxx, Xxxxxxx 00000
Telephone: (000) 000-0000
Endorsement
The policy to which this endorsement is attached is hereby amended as follows:
The Separate Accounts referred to in the attached policy have been combined as
of May 1, 1993 into the Conseco Variable Variable Annuity Account C (hereinafter
referred to as "Variable Account") with accounts investing in the Conseco Series
Trust portfolios. The Variable Annuity Fund (or Stock Separate Account) is now
referred to as the Common Stock Account. The Variable Annuity Account C (or Bond
Separate Account) is now referred to as the Corporate Bond Account. The Variable
Annuity Account D (or Money Market Separate Account) is now referred to as the
Money Market Account.
All portfolios of the Conseco Series Trust are available under this policy. Unit
Values for each Account will be calculated in the manner referred to in the
policy with a total deduction of 1.00% plus the Conseco Series Trust expenses.
However, the total deduction in the unit value will not exceed 1.44% for the
three Accounts referred to in the above paragraph. The total deduction in the
unit value will not exceed 1.7% for the Government Securities Portfolio and
1.75% for the Asset Allocation Portfolio. All provisions referring to separate
accounts will apply to all portfolios of the Conseco Series Trust. For complete
details, please refer to the prospectus.
IN WITNESS THEREOF, Conseco Variable Insurance Company has caused this
endorsement to be executed at its administrative office in Carmel, Indiana on
May 1, 1993.
Secretary
22-7145(03/93)
