Common use of USE OF CONTRACT Clause in Contracts

USE OF CONTRACT. This contract is available for retirement and deferred compensation plans, some of which may qualify for special tax treatment under various sections of the Internal Revenue Code. THIS IS A LEGAL CONTRACT BETWEEN THE OWNER AND THE COMPANY READ YOUR CONTRACT CAREFULLY. AN426NY TABLE OF CONTENTS DEFINITIONS 4 PREMIUM PAYMENT PROVISIONS 5 Premium Payments Allocation of Premium Payments Annuity Account Continuation Minimum Value Requirements OWNERSHIP, ASSIGNMENT AND BENEFICIARY PROVISIONS 6 Owner Rights of Owner Transfer of Ownership Assignment Beneficiary Change of Beneficiary FIXED AND VARIABLE ACCOUNTS PROVISIONS 7 Fixed Account and Sub-Accounts Variable Account and Sub-Accounts Investment Risk Investments of the Variable Account Sub-Accounts Substituted Securities CONTRACT VALUES DURING ACCUMULATION PERIOD PROVISIONS 8 Part A - Fixed Account Value Guaranteed Periods Guaranteed Interest Rates Fixed Accumulation Value Minimum Surrender Value Part B - Variable Account Value Acquisition and Redemption of Variable Accumulation Units Variable Accumulation Unit Value Variable Accumulation Value Net Investment Factor Part C - General Annuity Account Transfer Privilege Transfer Fee CASH WITHDRAWALS, WITHDRAWAL CHARGES AND MARKET VALUE ADJUSTMENT PROVISIONS 11 Cash Withdrawals Withdrawal Charges Market Value Adjustment AN426NY PENALTY-FREE WITHDRAWALS, TRANSFERS AND ANNUITIZATION PROVISIONS 12 Penalty-Free Partial Withdrawals or Transfers Full or Partial Withdrawals and Transfers at the End of a Guaranteed Period Waiver of Withdrawal Charge and Market Value Adjustment on Death or Annuity Date Penalty-Free Surrender on Disability Penalty-Free Annuitization BENEFIT PROVISIONS 13 Annuity Benefit Annuity Date Election and Effective Date of Election with Respect to Annuity Benefit Determination of Amount Income Payment Benefits Death Benefits Election and Effective Date of Election with Respect to Death Benefit Payment of Death Benefit Amount of Death Benefit Section 72(s) SETTLEMENT OPTIONS 15 GENERAL PROVISIONS 18 The Contract Modification of Contract Non-Participation Loans Determination of Values Endorsement of Income Payments Misstatement of Age and/or Sex Claims of Creditors Periodic Reports CONTRACT SPECIFICATIONS CONTRACT NUMBER: XX-0123456 DATE OF ISSUE: 04/01/1999 ANNUITANT: ▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇ ANNUITY DATE: APRIL 1, 2067 AGE AT ISSUE: 35 FORM BENEFIT INITIAL PREMIUM PAYMENT ---------------------------------------------------------------------------------------------------------- AN426NY FLEXIBLE PAYMENT DEFERRED VARIABLE ANNUITY $50,000 WITH FIXED AND VARIABLE ACCOUNTS INITIAL PREMIUM PAYMENT ALLOCATION PERCENTAGE FIXED ACCOUNT - SUB-ACCOUNTS GUARANTEED MINIMUM INTEREST RATE: 3.00% PERCENTAGE ADJUSTMENT TO INDEX RATE "B': 0.25% INITIAL GUARANTEED INTEREST PERIOD/INTEREST RATE: [1 YEAR/ 5.00%] [25%] INITIAL GUARANTEED INTEREST PERIOD/INTEREST RATE: [3 YEARS/] % INITIAL GUARANTEED INTEREST PERIOD/INTEREST RATE: [5 YEARS/] % INITIAL GUARANTEED INTEREST PERIOD/INTEREST RATE: [7 YEARS/] % INITIAL GUARANTEED INTEREST PERIOD/INTEREST RATE: [10 YEARS/] % DOLLAR COST AVERAGING FIXED ACCOUNT INITIAL GUARANTEED INTEREST PERIOD/INTEREST RATE: [6 MONTHS]/[4.00%] VARIABLE ACCOUNT - SUB-ACCOUNTS (FUNDS): [AIM Capital Appreciation Fund] [AIM Growth Fund] [AIM International Fund] [AIM Value Fund] [25%] [Alliance Premier Growth Portfolio - Class B] [Alliance Growth and Income Portfolio - Class B] [Alliance Growth Portfolio - Class B] [Alliance Technology Portfolio - Class B] [AVIS Global Small Capitalization Fund - Class 2] [AVIS Growth Fund - Class 2] [AVIS International Fund - Class 2] [AVIS Growth and Income Fund - Class 2] [BT Equity 500 Index Fund] [25%] [Delaware Premium Aggressive Growth Series] [Delaware Premium Delchester Series] [Delaware Premium Emerging Markets Series] [Delaware Premium Growth and Income Series] [Delaware Premium REIT Series] [Delaware Premium SmallCap Value Series] [Delaware Premium Trend Series] [Fidelity VIP Equity and Income Fund - Initial Class] [Fidelity VIP Growth Fund - Initial Class] [Fidelity VIP III Growth Opportunities Fund - Initial Class] [25%] [Fidelity VIP Overseas Fund - Initial Class] [Franklin SmallCap Investments Fund - Class 2] [Franklin Mutual Shares Investments Fund - Class 2] [▇▇▇▇▇▇▇▇▇ International Fund - Class 2] [▇▇▇▇▇▇▇▇▇ Global Growth Fund - Class 2] [Liberty Newport Tiger Fund] [Lincoln National Bond Fund] [Lincoln National Money Market Fund] [MFS Emerging Growth Series] [MFS Research Series] [MFS Total Return Series] [MFS Utilities Series] ---------------------------------------------------------------------------------- TOTAL 100% Limitations on transfers from fixed accounts (other than dollar cost averaging Fixed Account): in each contract year, an Owner is allowed to make one or more transfers from each Fixed Account Sub-account, and the amount(s) transferred in aggregate may not exceed more than 15% of the then current value of the applicable Fixed Account Sub-account(s). THIS CONTRACT IS FOR USE WITH "LNY ACCOUNT N FOR VARIABLE ANNUITIES". OWNER: ▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇ BENEFICIARY: The person(s) designated by the Owner and recorded by the Company MINIMUM SUBSEQUENT PREMIUM PAYMENTS: $2,000 PER FIXED ACCOUNT GUARANTEED PERIOD $ 100 PER VARIABLE ACCOUNT SUB-ACCOUNT SCHEDULE OF CHARGES AND FEES ---------------------------- Withdrawal Charges: The Withdrawal charges applicable under this contract are as follows.

USE OF CONTRACT. This contract is available for retirement and deferred compensation plans, some of which may qualify for special tax treatment under various sections of the Internal Revenue Code. THIS IS A LEGAL CONTRACT BETWEEN THE OWNER AND THE COMPANY READ YOUR CONTRACT CAREFULLY. AN426NY TABLE OF CONTENTS Page DEFINITIONS 4 PREMIUM PAYMENT PROVISIONS 5 Premium Payments Allocation of Premium Payments Annuity Account Continuation Minimum Value Requirements OWNERSHIP, ASSIGNMENT AND BENEFICIARY PROVISIONS 6 Owner Rights of Owner Transfer of Ownership Assignment Beneficiary Change of Beneficiary FIXED AND VARIABLE ACCOUNTS PROVISIONS 7 Fixed Account and Sub-Accounts Variable Account and Sub-Accounts Investment Risk Investments of the Variable Account Sub-Accounts Substituted Securities CONTRACT VALUES DURING ACCUMULATION PERIOD PROVISIONS 8 Part A - Fixed Account Value Guaranteed Periods Guaranteed Interest Rates Fixed Accumulation Value Minimum Surrender Value Part B - Variable Account Value Acquisition and Redemption of Variable Accumulation Units Variable Accumulation Unit Value Variable Accumulation Value Net Investment Factor Part C - General Annuity Account Transfer Privilege Transfer Fee CASH WITHDRAWALS, WITHDRAWAL CHARGES AND MARKET VALUE ADJUSTMENT PROVISIONS 11 Cash Withdrawals Withdrawal Charges Market Value Adjustment AN426NY PENALTY-FREE WITHDRAWALS, TRANSFERS AND ANNUITIZATION PROVISIONS 12 Penalty-Free Partial Withdrawals or Transfers Full or Partial Withdrawals and Transfers at the End of a Guaranteed Period Waiver of Withdrawal Charge and Market Value Adjustment on Death or Annuity Date Penalty-Free Surrender on Disability Penalty-Free Annuitization BENEFIT PROVISIONS 13 Annuity Benefit Annuity Date Election and Effective Date of Election with Respect to Annuity Benefit Determination of Amount Income Payment Benefits Death Benefits Election and Effective Date of Election with Respect to Death Benefit Payment of Death Benefit Amount of Death Benefit Section 72(s) SETTLEMENT OPTIONS 15 GENERAL PROVISIONS 18 The Contract Modification of Contract Non-Participation Loans Determination of Values Endorsement of Income Payments Misstatement of Age and/or Sex Claims of Creditors Periodic Reports AN426NY CONTRACT SPECIFICATIONS CONTRACT NUMBER: NUMBER XX-0123456 DATE OF ISSUE: ISSUE 04/01/1999 ANNUITANT: ANNUITANT ▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇ ANNUITY DATE: DATE APRIL 1, 2067 AGE AT ISSUE: ISSUE 35 FORM BENEFIT INITIAL PREMIUM PAYMENT ---------------------------------------------------------------------------------------------------------- ------------------------------------------------------------------------------------------------------- AN426NY FLEXIBLE PAYMENT DEFERRED VARIABLE ANNUITY $50,000 WITH FIXED AND VARIABLE ACCOUNTS INITIAL PREMIUM PAYMENT ALLOCATION PERCENTAGE FIXED ACCOUNT - SUB-ACCOUNTS GUARANTEED MINIMUM INTEREST RATE: 3.00% PERCENTAGE ADJUSTMENT TO INDEX RATE "B': 0.25% INITIAL GUARANTEED INTEREST PERIOD/INTEREST RATE: [1 YEAR/ 5.00%] [25%] % INITIAL GUARANTEED INTEREST PERIOD/INTEREST RATE: [3 YEARS/] % INITIAL GUARANTEED INTEREST PERIOD/INTEREST RATE: [5 YEARS/] % INITIAL GUARANTEED INTEREST PERIOD/INTEREST RATE: [7 YEARS/] % INITIAL GUARANTEED INTEREST PERIOD/INTEREST RATE: [10 YEARS/] % DOLLAR COST AVERAGING FIXED ACCOUNT INITIAL GUARANTEED INTEREST PERIOD/INTEREST RATE: [6 MONTHS]/[4.00%] VARIABLE ACCOUNT - SUB-ACCOUNTS (FUNDS): ) [AIM Capital Appreciation FundCAPITAL APPRECIATION FUND] % [AIM Growth FundV. I. GROWTH FUND] 25% [AIM International FundV. I. VALUE FUND] % [AIM Value FundV. I. INTERNATIONAL EQUITY FUND] % [25%] [Alliance Premier Growth Portfolio ALLIANCE PREMIER GROWTH PORTFOLIO - Class CLASS B] % [Alliance Growth and Income Portfolio ALLIANCE GROWTH AND INCOME PORTFOLIO - Class CLASS B] % [Alliance Growth Portfolio ALLIANCE GROWTH PORTFOLIO - Class CLASS B] % [Alliance Technology Portfolio ALLIANCE TECHNOLOGY PORTFOLIO - Class CLASS B] % [BT INSURANCE TRUST EQUITY 500 INDEX FUND] % [AVIS Global Small Capitalization Fund GLOBAL SMALL CAPITALIZATION FUND - Class CLASS 2] % [AVIS Growth Fund GROWTH FUND - Class CLASS 2] % [AVIS International Fund INTERNATIONAL FUND - Class CLASS 2] % [AVIS Growth and Income Fund GROWTH AND INCOME FUND - Class CLASS 2] % [BT Equity 500 Index FundDELAWARE PREMIUM AGGRESSIVE GROWTH SERIES] % [25%DELAWARE PREMIUM GROWTH AND INCOME SERIES] % [Delaware Premium Aggressive Growth SeriesDELAWARE REIT SERIES] % (DELAWARE SMALL CAP VALUE SERIES] % [Delaware Premium Delchester SeriesDELAWARE TREND SERIES] % [Delaware Premium Emerging Markets SeriesDELAWARE EMERGING MARKETS SERIES] % [Delaware Premium Growth and Income SeriesDELAWARE DELCHESTER SERIES] % [Delaware Premium REIT SeriesFIDELITY VIP EQUITY-INCOME PORTFOLIO] % [Delaware Premium SmallCap Value SeriesFIDELITY VIP GROWTH PORTFOLIO] % [Delaware Premium Trend SeriesFIDELITY VIP OVERSEAS PORTFOLIO] % [Fidelity VIP Equity and Income Fund - Initial Class] [Fidelity VIP Growth Fund - Initial Class] [Fidelity FIDELITY VIP III Growth Opportunities Fund GROWTH OPPORTUNITIES PORTFOLIO] 25% [FRANKLIN SMALL CAP INVESTMENTS FUND - Initial Class] [25%] [Fidelity VIP Overseas Fund - Initial Class] [Franklin SmallCap Investments Fund - Class CLASS 2] % [Franklin Mutual Shares Investments Fund FRANKLIN MUTUAL SHARES INVESTMENTS FUND - Class CLASS 2] % [LIBERTY TRUST NEWPORT TIGER FUND] % [LINCOLN NATIONAL BOND FUND] % [LINCOLN NATIONAL MONEY MARKET FUND] % [MFS VARIABLE TRUST EMERGING GROWTH SERIES] 25% [MFS VARIABLE TRUST RESEARCH SERIES] % [MFS VARIABLE TRUST TOTAL RETURN SERIES] % [MFS VARIABLE TRUST UTILITIES SERIES] % [▇▇▇▇▇▇▇▇▇ International Fund - Class 2] GLOBAL GROWTH FUND) % [▇▇▇▇▇▇▇▇▇ Global Growth Fund - Class 2] [Liberty Newport Tiger Fund] [Lincoln National Bond Fund] [Lincoln National Money Market Fund] [MFS Emerging Growth Series] [MFS Research Series] [MFS Total Return Series] [MFS Utilities Series] ---------------------------------------------------------------------------------- INTERNATIONAL FUND) % TOTAL 100% Limitations on transfers from fixed accounts (other than dollar cost averaging Fixed Account): : in each contract year, an Owner is allowed to make one or more transfers from each Fixed Account Sub-account, and the amount(s) transferred in aggregate may not exceed more than 15% of the then current value of the applicable Fixed Account applicable Sub-account(s). THIS CONTRACT IS FOR USE WITH "LNY ACCOUNT N FOR VARIABLE ANNUITIES". OWNER: ▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇ BENEFICIARY: The person(s) designated by the Owner and recorded by the Company MINIMUM SUBSEQUENT PREMIUM PAYMENTS: $2,000 PER FIXED ACCOUNT GUARANTEED PERIOD $ 100 PER VARIABLE ACCOUNT SUB-ACCOUNT SCHEDULE OF CHARGES AND FEES ---------------------------- Withdrawal Charges: The Withdrawal charges applicable under this contract are as follows.