Common use of MODIFICATION OF SEPARATE ACCOUNTS AND SUBACCOUNTS Clause in Contracts

MODIFICATION OF SEPARATE ACCOUNTS AND SUBACCOUNTS. We may from time to time change material features of, or close, certain Separate Accounts 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 of the changes and the approval of any appropriate regulatory authority. For example, we may combine Separate Accounts or Subaccounts, or provide additional Subaccounts, transfer part or all of the assets of a Separate Account or Subaccount to another Separate Account of Subaccount, make any changes necessary to comply with, or obtain and continue any exemptions from the Investment Company Act of 1940 (the 1940 Act), and make any other necessary technical changes to this Contract to conform with any action this provision permits us to take. -------------------------------------------------------------------------------- SECTION 5 - TRANSFER PAYMENTS ================================================================================

MODIFICATION OF SEPARATE ACCOUNTS AND SUBACCOUNTS. We may from time to time change material features of, or close, certain Separate Accounts 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 of the changes and the approval of any appropriate regulatory authority. For example, we may combine Separate Accounts or Subaccounts, or provide additional Subaccounts, transfer part or all of the assets of a Separate Account or Subaccount to another Separate Account of Subaccount, make any changes necessary to comply with, or obtain and continue any exemptions from the Investment Company Act of 1940 (the 1940 Act), and make any other necessary technical changes to this Contract to conform with any action this provision permits us to take. -------------------------------------------------------------------------------- SECTION 5 - TRANSFER PAYMENTS ================================================================================--------------------------------------------------------------------------------