Common use of Purchase of Shares from the Fund Clause in Contracts

Purchase of Shares from the Fund. (a) The Fund herewith engages the Distributor to act as exclusive distributor of the shares of its separate series, and any other series which may be designated from time to time hereafter (“Portfolios”), named and described on Schedule A attached hereto and incorporated by reference. Said sales shall be made only to investors eligible to invest in a registered investment company consistent with such company’s serving as an investment vehicle for variable annuities and variable life insurance company contracts. Distributor need not hold itself available to receive by mail, telex and/or telephone, orders for the purchase of shares. (b) All shares sold by the Distributor under this Agreement shall be sold at the net asset value per share (“Offering Price”) determined in the manner described in the Fund’s prospectus, as it may be amended from time to time.