Common use of SUBSTITUTION OF FUND Clause in Contracts

SUBSTITUTION OF FUND. If the shares of any of the Funds or any Portfolio of a Fund should no longer be available for investment by the Separate Account or if, in the judgment of the Company's Board of Directors, further investment in the shares of a Fund is no longer appropriate in view of the purpose of the Contract, the Company may substitute shares of another mutual fund or separate investment series thereof, for Fund shares already purchased or to be purchased in the future by Purchase Payments under the Contract. No substitution of securities may take place without prior approval of the Securities and Exchange Commission and under such requirements as it may impose.

SUBSTITUTION OF FUND. If the shares of any of the Funds or any Portfolio series of a the Fund should no longer be available for investment by the Separate Account or if, in the judgment of the Company's Board of Directors, further investment in the shares of a Fund is no longer appropriate in view of the purpose of the Contract, the Company may substitute shares of another mutual fund or separate investment a series thereof, within a mutual fund for Fund shares already purchased or to be purchased in the future by Purchase Payments Premiums under the Contract. No substitution of securities may take place without prior approval of the Securities and Exchange Commission and under such requirements as it may impose.