Common use of Modification of Separate Account and Subaccounts Clause in Contracts

Modification of Separate Account and Subaccounts. We may from time to time change material features of, or close, the Separate Account or Subaccounts. Any changes will be made only if permitted by applicable law and regulations. Also, when required by law, We will obtain the approval of Contractholders and Participants of the changes and the approval of any appropriate regulatory authority. DC-403-2015CT 6 For example, We may combine Subaccounts, provide additional Subaccounts or substitute a Subaccount for another, transfer part or all of the assets of the Separate Account or Subaccount to another Separate Account or Subaccount, make any changes necessary to comply with, or obtain and continue any exemptions from the Investment Company Act of 1940, and make any other necessary technical changes to this Contract to conform with any action this provision permits Us to take. DC-403-2015CT 7

Modification of Separate Account and Subaccounts. We may from time to time change material features of, or close, the Separate Account or Subaccounts. Any changes will be made only if permitted by applicable law and regulations. Also, when required by law, We will obtain the approval of Contractholders and Participants of the changes and the approval of any appropriate regulatory authority. DC-403DC-401457-2015CT 6 For example, We may combine Subaccounts, provide additional Subaccounts or substitute a Subaccount for another, transfer part or all of the assets of the Separate Account or Subaccount to another Separate Account or Subaccount, make any changes necessary to comply with, or obtain and continue any exemptions from the Investment Company Act of 1940, and make any other necessary technical changes to this Contract to conform with any action this provision permits Us to take. DC-403DC-401457-2015CT 7