Common use of VARIABLE ACCOUNT PROVISIONS Clause in Contracts

VARIABLE ACCOUNT PROVISIONS. INVESTMENT ACCOUNT VALUE The Investment Account Value of an Investment Option is determined by multiplying (a) times (b) where: (a) equals the number of Accumulation Units credited to the Investment Option; and, (b) equals the appropriate Accumulation Unit Value. ACCUMULATION UNITS We will credit Net Payments to your Investment Options in the form of Accumulation Units. The number of Accumulation Units we will credit to each Investment Option will be determined by dividing the Net Payment allocated to that Investment Option by the Accumulation Unit Value for that Investment Option. Accumulation Units will be adjusted for any transfers and will be canceled on payment of a death benefit, withdrawal, maturity or assessment of certain charges based on their value for the Valuation Period in which such transaction occurs. ACCUMULATION UNIT VALUE We will determine the Accumulation Unit Value for a particular Investment Option for any Valuation Period by multiplying the Accumulation Unit Value for the immediately preceding Valuation Period by the net investment factor for the corresponding Sub-Account for the Valuation Period for which the value is being determined. The Accumulation Unit Value may increase, decrease or remain the same from one Valuation Period to the next. NET INVESTMENT FACTOR The net investment factor is an index that measures the investment performance of a Sub-Account from one Valuation Period to the next. The net investment factor for any Valuation Period is determined by dividing (a) by (b) and subtracting (c) from the result where: (a) is the net result of: 1) the net asset value per share of a Portfolio share held in the Sub-Account determined as of the end of the current Valuation Period, plus: 2) the per share amount of any dividend or capital gain distributions made by the Portfolio on shares held in the Sub-Account if the ex-dividend date occurs during the current Valuation Period, and (b) is the net asset value per share of a Portfolio share held in the Sub-Account determined as of the end of the immediately preceding Valuation Period, and (c) is the Contract Asset Fee shown on the Specifications Page. The net investment factor may be greater or less than, or equal to, one.

VARIABLE ACCOUNT PROVISIONS. INVESTMENT ACCOUNT SUBACCOUNT VALUE - The Investment Account Subaccount Value of an Investment Option is determined by multiplying (a) times (b) where: (a) equals the number of Accumulation Units credited to the Investment Option; and, (b) equals the appropriate Accumulation Unit Value. ACCUMULATION UNITS We will credit Net Payments to your Investment Options in the form of Accumulation Units. The number of Accumulation Units we will credit to each Investment Option will be determined by dividing the Net Payment allocated to this Contract for that Investment Option Subaccount by the Accumulation Unit Value for that Investment OptionSubaccount. Withdrawals, transfers and deductions for fees and charges will result in the cancellation of Accumulation Units in a Subaccount. THE VARIABLE ACCOUNT - The Variable Account is designated on the Data Page. Variable Account assets are set aside by Cova and are kept separate from Cova's General Account assets and other separate account assets. The Variable Account assets equal to reserves and other liabilities will not be charged with liabilities arising out of any other business of Cova. INVESTMENTS OF THE VARIABLE ACCOUNT - Purchase Payments applied to the Variable Account are allocated to a Subaccount. The assets of a Subaccount are allocated to the Investment Option(s) and Portfolio(s), if any, within the Variable Account. Cova may from time to time add additional Investment Option(s) or Portfolio(s). You may be permitted to transfer Subaccount Values or allocate Purchase Payments to the additional Investment Option(s) or Portfolio(s), however, the right to make any transfer or allocation will be adjusted limited by the terms and conditions imposed by Cova. If the shares of an Investment Option or a Portfolio within an Investment Option become unavailable for any transfers investment by the Variable Account or Cova's Board of Directors deems further investment in these shares inappropriate, Cova may limit further purchase of the shares or substitute shares of another eligible Investment Option or Portfolio for shares already purchased under this Contract. VALUATION OF ASSETS - Assets of the Variable Account are valued at their fair market value in accordance with applicable law. ACCUMULATION UNIT - Accumulation Units are used to account for all amounts allocated to or withdrawn from a Subaccount as a result of Purchase Payments, withdrawals, transfers, fees and charges. Cova will be canceled on payment determine the number of Accumulation Units of a death benefit, withdrawal, maturity Subaccount purchased or assessment canceled by dividing the amount allocated to (or the amount withdrawn from) the Subaccount by the dollar value of certain charges based on their value one Accumulation Unit of the Subaccount as of the Business Day during which the request for a transaction is received at the Valuation Period in which such transaction occursService Office. ACCUMULATION UNIT VALUE We will determine the - The Accumulation Unit Value for a particular Investment Option for any Valuation Period by multiplying the Accumulation Unit Value for the immediately preceding Valuation Period by the net investment factor for the corresponding Sub-Account for the Valuation Period for which the value is being determinedeach Subaccount was arbitrarily set initially. The Accumulation Unit Value may increase, decrease or remain the same from one Valuation Period to the next. NET INVESTMENT FACTOR The net investment factor is an index that measures the investment performance of a Sub-Account from one Valuation Period to the next. The net investment factor for any Valuation Period later Business Day is determined by dividing subtracting (b) from (a) and dividing the result by (b) and subtracting (c) from the result where: (a) is the net result of: 1) the net asset value per share of a Portfolio share held in the Sub-Account determined as of the end of the current Valuation Period, plus: 2) the per share amount of any dividend or capital gain distributions made by the Portfolio on shares held in the Sub-Account if the ex-dividend date occurs during the current Valuation Period, and (b) is the net asset value per share of a Portfolio share held in the Sub-Account determined as of the end of the immediately preceding Valuation Period, and (c) is the Contract Asset Fee shown on the Specifications Page. The net investment factor may be greater or less than, or equal to, one.

VARIABLE ACCOUNT PROVISIONS. INVESTMENT ACCOUNT VALUE The Investment Account Value of an Investment Option is determined by multiplying (a) times (b) where: (a) equals the number of Accumulation Units credited to the Investment Option; and, (b) equals the appropriate Accumulation Unit Value. ACCUMULATION UNITS We will credit the Net Payments Payment to your Investment Options in the form of Accumulation Units. The number of Accumulation Units we will credit to each Investment Option will be determined by dividing the Net Payment allocated to that Investment Option by the Accumulation Unit Value for that Investment Option. Accumulation Units will be adjusted for any transfers and will be canceled on payment of a death benefit, withdrawal, maturity or assessment of certain charges based on their value for the Valuation Period in which such transaction occurs. ACCUMULATION UNIT VALUE We will determine the Accumulation Unit Value for a particular Investment Option for any Valuation Period by multiplying the Accumulation Unit Value for the immediately preceding Valuation Period by the net investment factor for the corresponding Sub-Account for the Valuation Period for which the value is being determined. The Accumulation Unit Value may increase, decrease or remain the same from one Valuation Period to the next. NET INVESTMENT FACTOR The net investment factor is an index that measures the investment performance of a Sub-Account from one Valuation Period to the next. The net investment factor for any Valuation Period is determined by dividing (a) by (b) and subtracting (c) from the result where: (a) is the net result of: 1) the net asset value per share of a Portfolio share held in the Sub-Account determined as of the end of the current Valuation Period, plus: 2) the per share amount of any dividend or capital gain distributions made by the Portfolio on shares held in the Sub-Account if the ex-dividend date occurs during the current Valuation Period, and (b) is the net asset value per share of a Portfolio share held in the Sub-Account determined as of the end of the immediately preceding Valuation Period, and (c) is the Contract Asset Fee shown on the Specifications Page. The net investment factor may be greater or less than, or equal to, one.

VARIABLE ACCOUNT PROVISIONS. INVESTMENT ACCOUNT We will establish a separate Investment Account for you for each variable Investment Option to which you allocate amounts. The Investment Account represents the number of your Accumulation Units in an Investment Option. INVESTMENT ACCOUNT VALUE The Investment Account Value of an Investment Option Account is determined by multiplying (a) times (b) where: (a) equals the number of Accumulation Units credited to the Investment OptionAccount; and, (b) equals the value of the appropriate Accumulation Unit ValueUnit. ACCUMULATION UNITS We will credit Net Payments to your Investment Options Accounts in the form of Accumulation Units. The number of Accumulation Units we will credit to each Investment Option Account of the Contract will be determined by dividing the Net Payment allocated to that Investment Option Account by the Accumulation Unit Value value for that Investment OptionAccount. Accumulation Units will be adjusted for any transfers and will be canceled on payment of a death benefit, withdrawal, maturity or assessment of certain charges based on their value for the Valuation Period in which such transaction occurs. VALUE OF ACCUMULATION UNIT VALUE We will determine the Accumulation Unit Value value for a particular Investment Option Account for any Valuation Period by multiplying the Accumulation Unit Value value for the immediately preceding Valuation Period by the net investment factor for the corresponding Sub-Account for the Valuation Period for which the value is being determined. The value of an Accumulation Unit Value may increase, decrease or remain the same from one Valuation Period to the next. NET INVESTMENT FACTOR The net investment factor is an index that measures the investment performance of a Sub-Account from one Valuation Period to the next. The net investment factor for any Valuation Period is determined by dividing (a) by (b) and subtracting (c) from the result where: (a) is the net result of: 1) the net asset value per share of a Portfolio share held in the Sub-Account determined as of the end of the current Valuation Period, plus: 2) the per share amount of any dividend or capital gain distributions made by the Portfolio on shares held in the Sub-Account if the ex-dividend date occurs during the current Valuation Period, and (b) is the net asset value per share of a Portfolio share held in the Sub-Account determined as of the end of the immediately preceding Valuation Period, and (c) is the Contract Asset Fee shown on the Specifications Page. The net investment factor may be greater or less than, or equal to, one.

VARIABLE ACCOUNT PROVISIONS. INVESTMENT ACCOUNT SUBACCOUNT VALUE - The Investment Account Subaccount Value of an Investment Option is determined by multiplying (a) times (b) where: (a) equals the number of Accumulation Units credited to the Investment Option; and, (b) equals the appropriate Accumulation Unit Value. ACCUMULATION UNITS We will credit Net Payments to your Investment Options in the form of Accumulation Units. The number of Accumulation Units we will credit to each Investment Option will be determined by dividing the Net Payment allocated to this Contract for that Investment Option Subaccount by the Accumulation Unit Value for that Investment OptionSubaccount. Withdrawals will result in the cancellation of Accumulation Units in a Subaccount. THE VARIABLE ACCOUNT - The Variable Account is designated on the Data Page. Variable Account assets are set aside by Cova and are kept separate from Cova's General Account assets and other separate account assets. The Variable Account assets equal to reserves and other liabilities will not be charged with liabilities arising out of any other business of Cova. INVESTMENTS OF THE VARIABLE ACCOUNT - Net Purchase Payments applied to the Variable Account are allocated to a Subaccount. The assets of a Subaccount are allocated to the Investment Option(s) and Portfolio(s), if any, within the Variable Account. Cova may from time to time add additional Investment Option(s) or Portfolio(s). You may be permitted to transfer Subaccount Values or allocate Purchase Payments to the additional Investment Option(s) or Portfolio(s), however, the right to make any transfer or allocation will be adjusted limited by the terms and conditions imposed by Cova. If the shares of an Investment Option or a Portfolio within an Investment Option become unavailable for any transfers investment by the Variable Account or Cova's Board of Directors deems further investment in these shares inappropriate, Cova may limit further purchase of the shares or substitute shares of another eligible Investment Option or Portfolio for shares already purchased under this Contract. VALUATION OF ASSETS - Assets of the Variable Account are valued at their fair market value in accordance with applicable law. ACCUMULATION UNIT - Accumulation Units are used to account for all amounts allocated to or withdrawn from a Subaccount as a result of Net Purchase Payments, withdrawals, transfers, fees and charges. Cova will be canceled on payment determine the number of Accumulation Units of a death benefit, withdrawal, maturity Subaccount purchased or assessment canceled by dividing the amount allocated to (or the amount withdrawn from) the Subaccount by the dollar value of certain charges based on their value one Accumulation Unit of the Subaccount as of the Business Day during which the request for a transaction is received at the Valuation Period in which such transaction occursService Office. ACCUMULATION UNIT VALUE We will determine the - The Accumulation Unit Value for a particular Investment Option for any Valuation Period by multiplying the Accumulation Unit Value for the immediately preceding Valuation Period by the net investment factor for the corresponding Sub-Account for the Valuation Period for which the value is being determinedeach Subaccount was arbitrarily set initially. The Accumulation Unit Value may increase, decrease or remain the same from one Valuation Period to the next. NET INVESTMENT FACTOR The net investment factor is an index that measures the investment performance of a Sub-Account from one Valuation Period to the next. The net investment factor for any Valuation Period later Business Day is determined by dividing subtracting (b) from (a) and dividing the result by (b) and subtracting (c) from the result where: (a) is the net result of: 1) the net asset value per share of a Portfolio share held in the Sub-Account determined as of the end of the current Valuation Period, plus: 2) the per share amount of any dividend or capital gain distributions made by the Portfolio on shares held in the Sub-Account if the ex-dividend date occurs during the current Valuation Period, and (b) is the net asset value per share of a Portfolio share held in the Sub-Account determined as of the end of the immediately preceding Valuation Period, and (c) is the Contract Asset Fee shown on the Specifications Page. The net investment factor may be greater or less than, or equal to, one.

VARIABLE ACCOUNT PROVISIONS. INVESTMENT ACCOUNT We will establish a separate Investment Account for you for each variable Investment Option to which you allocate amounts. The Investment Account represents the number of your Accumulation Units in an Investment Option. INVESTMENT ACCOUNT VALUE The Investment Account Value of an Investment Option Account is determined by multiplying (a) times (b) where: (a) equals the number of Accumulation Units credited to the Investment OptionAccount; and,; (b) equals the value of the appropriate Accumulation Unit ValueUnit. ACCUMULATION UNITS We will credit Net Payments to your Investment Options Accounts in the form of Accumulation Units. The number of Accumulation Units we will credit to each Investment Option Account of the Contract will be determined by dividing the Net Payment allocated to that Investment Option Account by the Accumulation Unit Value value for that Investment OptionAccount. VENTURE-L.11-NY 6 SAMPLE Accumulation Units will be adjusted for any transfers and will be canceled on payment of a death benefit, withdrawal, maturity or assessment of certain charges based on their value for the Valuation Period in Business Day on which such transaction occurs. VALUE OF ACCUMULATION UNIT VALUE We will determine the Accumulation Unit Value value for a particular Investment Option Account for any Valuation Period Business Day by multiplying the Accumulation Unit Value value for the immediately preceding Valuation Period Business Day by the net investment factor for the corresponding Sub-Account for the Valuation Period for which the value is being determined. The value of an Accumulation Unit Value may increase, decrease or remain the same from one Valuation Period Business Day to the next. NET INVESTMENT FACTOR The net investment factor is an index that measures the investment performance of a Sub-Account Subaccount from one Valuation Period Business Day to the nextnext (" the Valuation Period"). The net investment factor for any Valuation Period is determined by dividing (a) by (b) and subtracting (c) from the result where: (a) is the net result of: 1(i) the net asset value per share of a Portfolio share held in the Sub-Account Subaccount determined as of the end of the current Valuation Period, plus: 2(ii) the per share amount of any dividend or capital gain distributions made by the Portfolio on shares held in the Sub-Account if the ex-dividend date occurs Subaccount and received during the current Valuation Period, ; and (b) is the net asset value per share of a Portfolio share held in the Sub-Account Subaccount determined as of the end of the immediately preceding Valuation Period, ; and (c) is the Contract Asset Fee shown on the Specifications PagePages divided by 365 and multiplied by the number of calendar days in the Valuation Period. The net investment factor may be greater or less than, or equal to, one. ADDITION, DELETION, SUBSTITUTION We reserve the right, subject to prior approval of the New OR RESTRICTION OF INVESTMENT York Superintendent of Insurance and in compliance with OPTIONS applicable law, to make additions to, deletions from, or substitutions for the Portfolio shares that are held by the Variable Account or that the Variable Account may purchase. We reserve the right to eliminate the shares of any of the eligible Portfolios and to substitute shares of another Portfolio. We will not substitute any shares attributable to your interest in a Subaccount without notice to you and prior approval of the Securities and Exchange Commission to the extent required by the Investment Company Act of 1940. Nothing contained herein shall prevent the Variable Account from purchasing other securities for other series or classes of contracts, or from effecting a conversion between shares of another open-end investment company. We reserve the right, subject to prior approval of the New York Superintendent of Insurance and in compliance with applicable law, to establish additional Subaccounts which would invest in shares of a new Portfolio. We also reserve the right to eliminate existing Subaccounts, to restrict or prohibit additional allocations to a Subaccount, to combine Subaccounts or to transfer assets in a Subaccount to another Separate Account established by us or an affiliated company. In the event of any such substitution or change, we may, by appropriate endorsement, make such changes in this and other Contracts as may be necessary or appropriate to reflect such substitutions or change. If deemed by us to be in the best interests of persons having voting rights under the Contracts, the Variable Account may be operated as a management company under the Investment Company Act of 1940 or it may be de-registered under such Act in the event such registration is no longer required. VENTURE-L.11-NY 7 SAMPLE INSULATION The portion of the assets of the Variable Account equal to the reserves and other contract liabilities with respect to such account shall not be charged with liabilities arising out of any other business we may conduct. Moreover, the income, gains and losses, realized or unrealized, from assets allocated to the Variable Account shall be credited to or charged against such account without regard to our other income, gains or losses. SEPARATE ACCOUNT ASSETS We will maintain, in the Separate Account, assets with a value at least equal to the amounts accumulated in accordance with the terms of the applicable agreements with respect to the Separate Account and the reserves for annuities, in the course of payment that vary with the investment experience of the Separate Account.

VARIABLE ACCOUNT PROVISIONS. INVESTMENT ACCOUNT VALUE Investment Account We will establish a separate Investment Account for you for each variable Investment Option to which you allocate amounts. The Investment Account represents the number of your Accumulation Units in an Investment Option. Investment Account Value The Investment Account Value of an Investment Option Account is determined by multiplying (a) times (b) where: (a) equals the number of Accumulation Units credited to the Investment OptionAccount; and,; (b) equals the value of the appropriate Accumulation Unit ValueUnit. ACCUMULATION UNITS Accumulation Units We will credit Net Payments to your Investment Options Accounts in the form of Accumulation Units. The number of Accumulation Units we will credit to each Investment Option Account of the Contract will be determined by dividing the Net Payment allocated to that Investment Option Account by the Accumulation Unit Value value for that Investment OptionAccount. ICC11-VENTURE-EE.11 Accumulation Units will be adjusted for any transfers and will be canceled on payment of a death benefit, withdrawal, maturity or assessment of certain charges based on their value for the Valuation Period in Business Day on which such transaction occurs. ACCUMULATION UNIT VALUE Value Of Accumulation Unit We will determine the Accumulation Unit Value value for a particular Investment Option Account for any Valuation Period Business Day by multiplying the Accumulation Unit Value value for the immediately preceding Valuation Period Business Day by the net investment factor for the corresponding Sub-Account for the Valuation Period for which the value is being determined. The value of an Accumulation Unit Value may increase, decrease or remain the same from one Valuation Period Business Day to the next. NET INVESTMENT FACTOR Net Investment Factor The net investment factor is an index that measures the investment performance of a Sub-Account Subaccount from one Valuation Period Business Day to the nextnext (“ the Valuation Period”). The net investment factor for any Valuation Period is determined by dividing (a) by (b) and subtracting (c) from the result where: (a) is the net result of: 1(i) the net asset value per share of a Portfolio share held in the Sub-Account Subaccount determined as of the end of the current Valuation Period, plus: 2(ii) the per share amount of any dividend or capital gain distributions made by the Portfolio on shares held in the Sub-Account if the ex-dividend date occurs Subaccount and received during the current Valuation Period, ; and (b) is the net asset value per share of a Portfolio share held in the Sub-Account Subaccount determined as of the end of the immediately preceding Valuation Period, ; and (c) is the Contract Asset Fee shown on the Specifications PagePages divided by 365 and multiplied by the number of calendar days in the Valuation Period. The net investment factor may be greater or less than, or equal to, one. Addition, Deletion, Substitution Or Restriction Of Investment Options We reserve the right, subject to compliance with applicable law, to make additions to, deletions from, or substitutions for the Portfolio shares that are held by the Variable Account or that the Variable Account may purchase. We reserve the right to eliminate the shares of any of the eligible Portfolios and to substitute shares of another Portfolio. We will not substitute any shares attributable to your interest in a Subaccount without notice to you and prior approval of the Securities and Exchange Commission to the extent required by the Investment Company Act of 1940. Nothing contained herein shall prevent the Variable Account from purchasing other securities for other series or classes of contracts, or from effecting a conversion between shares of another open-end investment company. We may make certain changes that we anticipate would best serve the interest of owners of these or similar contracts or would be appropriate in carrying out the purposes of such contracts. Any changes will be made only to the extent and in the manner permitted by applicable laws. Such changes may include the establishment of additional Subaccounts which would invest in shares of a new Portfolio, the elimination of existing Subaccounts, the restriction of or prohibition of additional allocations to a Subaccount, the combination of Subaccounts or the transfer of assets in a Subaccount to another Separate Account established by us or an affiliated company. In the event of any such substitution or change, we may, by appropriate endorsement, make such changes in this and other Contracts as may be necessary or appropriate to reflect such substitutions or change. If deemed by us to be in the best interests of persons having voting rights under the Contracts, the Variable Account may be operated as a management company under the Investment Company Act of 1940 or it may be de-registered under such Act in the event such registration is no longer required. ICC11-VENTURE-EE.11 Insulation The portion of the assets of the Variable Account equal to the reserves and other contract liabilities with respect to such account shall not be charged with liabilities arising out of any other business we may conduct. Moreover, the income, gains and losses, realized or unrealized, from assets allocated to the Variable Account shall be credited to or charged against such account without regard to our other income, gains or losses.

VARIABLE ACCOUNT PROVISIONS. INVESTMENT ACCOUNT We will establish a separate Investment Account for you for each variable Investment Option to which you allocate amounts. The Investment Account represents the number of your Accumulation Units in an Investment Option. INVESTMENT ACCOUNT VALUE The Investment Account Value of an Investment Option Account is determined by multiplying (a) times (b) where: (a) equals the number of Accumulation Units credited to the Investment OptionAccount; and,; (b) equals the value of the appropriate Accumulation Unit ValueUnit. ACCUMULATION UNITS We will credit Net Payments to your Investment Options Accounts in the form of Accumulation Units. The number of Accumulation Units we will credit to each Investment Option Account of the Contract will be determined by dividing the Net Payment allocated to that Investment Option Account by the Accumulation Unit Value value for that Investment OptionAccount. ICC11-VENTURE.11 SAMPLE Accumulation Units will be adjusted for any transfers and will be canceled on payment of a death benefit, withdrawal, maturity or assessment of certain charges based on their value for the Valuation Period in Business Day on which such transaction occurs. VALUE OF ACCUMULATION UNIT VALUE We will determine the Accumulation Unit Value value for a particular Investment Option Account for any Valuation Period Business Day by multiplying the Accumulation Unit Value value for the immediately preceding Valuation Period Business Day by the net investment factor for the corresponding Sub-Account for the Valuation Period for which the value is being determined. The value of an Accumulation Unit Value may increase, decrease or remain the same from one Valuation Period Business Day to the next. NET INVESTMENT FACTOR The net investment factor is an index that measures the investment performance of a Sub-Account Subaccount from one Valuation Period Business Day to the nextnext (" the Valuation Period"). The net investment factor for any Valuation Period is determined by dividing (a) by (b) and subtracting (c) from the result where: (a) is the net result of: 1(i) the net asset value per share of a Portfolio share held in the Sub-Account Subaccount determined as of the end of the current Valuation Period, plus: 2(ii) the per share amount of any dividend or capital gain distributions made by the Portfolio on shares held in the Sub-Account if the ex-dividend date occurs Subaccount and received during the current Valuation Period, ; and (b) is the net asset value per share of a Portfolio share held in the Sub-Account Subaccount determined as of the end of the immediately preceding Valuation Period, ; and (c) is the Contract Asset Fee shown on the Specifications PagePages divided by 365 and multiplied by the number of calendar days in the Valuation Period. The net investment factor may be greater or less than, or equal to, one. ADDITION, DELETION, We reserve the right, subject to compliance with applicable SUBSTITUTION OR RESTRICTION law, to make additions to, deletions from, or substitutions OF INVESTMENT OPTIONS for the Portfolio shares that are held by the Variable Account or that the Variable Account may purchase. We reserve the right to eliminate the shares of any of the eligible Portfolios and to substitute shares of another Portfolio. We will not substitute any shares attributable to your interest in a Subaccount without notice to you and prior approval of the Securities and Exchange Commission to the extent required by the Investment Company Act of 1940. Nothing contained herein shall prevent the Variable Account from purchasing other securities for other series or classes of contracts, or from effecting a conversion between shares of another open-end investment company. We reserve the right, subject to compliance with applicable law, to establish additional Subaccounts which would invest in shares of a new Portfolio. We also reserve the right to eliminate existing Subaccounts, to restrict or prohibit additional allocations to a Subaccount, to combine Subaccounts or to transfer assets in a Subaccount to another Separate Account established by us or an affiliated company. In the event of any such substitution or change, we may, by appropriate endorsement, make such changes in this and other Contracts as may be necessary or appropriate to reflect such substitutions or change. If deemed by us to be in the best interests of persons having voting rights under the Contracts, the Variable Account may be operated as a management company under the Investment Company Act of 1940 or it may be de-registered under such Act in the event such registration is no longer required. ICC11-VENTURE.11 SAMPLE INSULATION The portion of the assets of the Variable Account equal to the reserves and other contract liabilities with respect to such account shall not be charged with liabilities arising out of any other business we may conduct. Moreover, the income, gains and losses, realized or unrealized, from assets allocated to the Variable Account shall be credited to or charged against such account without regard to our other income, gains or losses.

VARIABLE ACCOUNT PROVISIONS. INVESTMENT ACCOUNT VALUE The Investment Account Value of an Investment Option is determined by multiplying (a) times (b) where: (a) equals the number of Accumulation Units credited to the Investment Option; and, (b) equals the appropriate Accumulation Unit Value. ACCUMULATION UNITS We will credit the Net Payments Payment to your Investment Options in the form of Accumulation Units. The number of Accumulation Units we will credit to each Investment Option will be determined by dividing the Net Payment allocated to that Investment Option by the Accumulation Unit Value for that Investment Option. Accumulation Units will be adjusted for any transfers and will be canceled on payment of a death benefit, withdrawal, maturity or assessment of certain charges based on their value for the Valuation Period in which such transaction occurs. ACCUMULATION UNIT VALUE We will determine the Accumulation Unit Value for a particular Investment Option for any Valuation Period by multiplying the Accumulation Unit Value for the immediately preceding Valuation Period by the net investment factor for the corresponding Sub-Account for the Valuation Period for which the value is being determined. The Accumulation Unit Value may increase, decrease or remain the same from one Valuation Period to the next. NET INVESTMENT FACTOR The net investment factor is an index that measures the investment performance of a Sub-Account from one Valuation Period to the next. The net investment factor for any Valuation Period is determined by dividing (a) by (b) and subtracting (c) from the result where: (a) is the net result of: 1) the net asset value per share of a Portfolio share held in the Sub-Account determined as of the end of the current Valuation Period, plus: 2) the per share amount of any dividend or capital gain distributions made by the Portfolio on shares held in the Sub-Account if the ex-dividend date occurs during the current Valuation Period, and (b) is the net asset value per share of a Portfolio share held in the Sub-Sub- Account determined as of the end of the immediately preceding Valuation Period, and (c) is the Contract Certificate Asset Fee shown on the Specifications Page. The net investment factor may be greater or less than, or equal to, one.

VARIABLE ACCOUNT PROVISIONS. INVESTMENT ACCOUNT VALUE The Investment Account Value of an Investment Option is determined by multiplying (a) times (b) where: (a) equals the number of Accumulation Units credited to the Investment Option; and, (b) equals the appropriate Accumulation Unit Value. ACCUMULATION UNITS We will credit Net Payments to your Investment Options in the form of Accumulation Units. The number of Accumulation Units we will credit to each the Investment Option Option(s) will be determined by dividing the Net Payment allocated to that Investment Option by the Accumulation Unit Value for that Investment Option. Accumulation Units will be adjusted for any transfers and will be canceled on payment of a death benefit, withdrawal, maturity or assessment of certain charges based on their value for the Valuation Period in which such transaction occurs. ACCUMULATION UNIT VALUE We will determine the Accumulation Unit Value for a particular Investment Option for any Valuation Period by multiplying the Accumulation Unit Value for the immediately preceding Valuation Period by the net investment factor for the corresponding Sub-Account for the Valuation Period for which the value is being determined. The Accumulation Unit Value may increase, decrease or remain the same from one Valuation Period to the next. NET INVESTMENT FACTOR The net investment factor is an index that measures the investment performance of a Sub-Account from one Valuation Period to the next. The net investment factor for any Valuation Period is determined by dividing (a) by (b) and subtracting (c) from the result where: (a) is the net result of: 1) the net asset value per share of a Portfolio share held in the Sub-Account determined as of the end of the current Valuation Period, plus: 2) the per share amount of any dividend or capital gain distributions made by the Portfolio on shares held in the Sub-Account if the ex-dividend date occurs during the current Valuation Period, and (b) is the net asset value per share of a Portfolio share held in the Sub-Account determined as of the end of the immediately preceding Valuation Period, and (c) is the Contract Asset Fee shown on the Specifications Page. The net investment factor may be greater or less than, or equal to, one. TRANSFERS Before the Maturity Date (or the date Annuity Payments begin, if earlier), if we offer more than one Investment Option you may transfer amounts among such Investment Options. Amounts will be canceled from the Investment Option(s) from which amounts are transferred and credited to the Investment Option(s) to which amounts are transferred. We will effect such transfers so that the Contract Value on the date of transfer will not be affected by the transfer. We may defer, modify or terminate the transfer privilege at any time. Transfer limitations are identified in the Suspension of Payments provision. 5.1 SUSPENSION OF PAYMENTS We may defer the right of withdrawal from, or postpone the date of payments or transfers from, the variable Investment Option(s) for any period when: (a) the New York Stock Exchange is closed (other than customary weekend and holiday closings); (b) trading on the New York Stock Exchange is restricted; (c) an emergency exists as a result of which disposal of securities held in the Variable Account is not reasonably practicable or it is not reasonably practicable to determine the value of the Variable Account's net assets; or (d) the Securities and Exchange Commission, by order, permits such deferral or postponement for the protection of security holders. Applicable rules and regulations of the Securities and Exchange Commission shall govern whether the conditions described in (b) and (c) exist.

VARIABLE ACCOUNT PROVISIONS. INVESTMENT ACCOUNT We will establish a separate Investment Account for you for each variable Investment Option to which you allocate amounts. The Investment Account represents the number of your Accumulation Units in an Investment Option. INVESTMENT ACCOUNT VALUE The Investment Account Value of an Investment Option Account is determined by multiplying (a) times (b) where: (a) equals the number of Accumulation Units credited to the Investment OptionAccount; and,; (b) equals the value of the appropriate Accumulation Unit ValueUnit. ACCUMULATION UNITS We will credit Net Payments to your Investment Options Accounts in the form of Accumulation Units. The number of Accumulation Units we will credit to each Investment Option Account of the Contract will be determined by dividing the Net Payment allocated to that Investment Option Account by the Accumulation Unit Value value for that Investment OptionAccount. VENTUREW-B.11-NY SAMPLE Accumulation Units will be adjusted for any transfers and will be canceled on payment of a death benefit, withdrawal, maturity or assessment of certain charges based on their value for the Valuation Period in Business Day on which such transaction occurs. VALUE OF ACCUMULATION UNIT VALUE We will determine the Accumulation Unit Value value for a particular Investment Option Account for any Valuation Period Business Day by multiplying the Accumulation Unit Value value for the immediately preceding Valuation Period Business Day by the net investment factor for the corresponding Sub-Account for the Valuation Period for which the value is being determined. The value of an Accumulation Unit Value may increase, decrease or remain the same from one Valuation Period Business Day to the next. NET INVESTMENT FACTOR The net investment factor is an index that measures the investment performance of a Sub-Account Subaccount from one Valuation Period Business Day to the nextnext ("the Valuation Period"). The net investment factor for any Valuation Period is determined by dividing (a) by (b) and subtracting (c) from the result where: (a) is the net result of: 1(i) the net asset value per share of a Portfolio share held in the Sub-Account Subaccount determined as of the end of the current Valuation Period, plus: 2(ii) the per share amount of any dividend or capital gain distributions made by the Portfolio on shares held in the Sub-Account if the ex-dividend date occurs Subaccount and received during the current Valuation Period, ; and (b) is the net asset value per share of a Portfolio share held in the Sub-Account Subaccount determined as of the end of the immediately preceding Valuation Period, ; and (c) is the Contract Asset Fee shown on the Specifications PagePages divided by 365 and multiplied by the number of calendar days in the Valuation Period. The net investment factor may be greater or less than, or equal to, one. ADDITION, DELETION, We reserve the right, subject to prior approval of SUBSTITUTION OR the New York Superintendent of Insurance and in RESTRICTION OF compliance with applicable law, to make additions INVESTMENT OPTIONS to, deletions from, or substitutions for the Portfolio shares that are held by the Variable Account or that the Variable Account may purchase. We reserve the right to eliminate the shares of any of the eligible Portfolios and to substitute shares of another Portfolio. We will not substitute any shares attributable to your interest in a Subaccount without notice to you and prior approval of the Securities and Exchange Commission to the extent required by the Investment Company Act of 1940. Nothing contained herein shall prevent the Variable Account from purchasing other securities for other series or classes of contracts, or from effecting a conversion between shares of another open-end investment company. We reserve the right, subject to prior approval of the New York Superintendent of Insurance and in compliance with applicable law, to establish additional Subaccounts which would invest in shares of a new Portfolio. We also reserve the right to eliminate existing Subaccounts, to restrict or prohibit additional allocations to a Subaccount, to combine Subaccounts or to transfer assets in a Subaccount to another Separate Account established by us or an affiliated company. In the event of any such substitution or change, we may, by appropriate endorsement, make such changes in this and other Contracts as may be necessary or appropriate to reflect such substitutions or change. If deemed by us to be in the best interests of persons having voting rights under the Contracts, the Variable Account may be operated as a management company under the Investment Company Act of 1940 or it may be de-registered under such Act in the event such registration is no longer required. VENTUREW-B.11-NY SAMPLE INSULATION The portion of the assets of the Variable Account equal to the reserves and other contract liabilities with respect to such account shall not be charged with liabilities arising out of any other business we may conduct. Moreover, the income, gains and losses, realized or unrealized, from assets allocated to the Variable Account shall be credited to or charged against such account without regard to our other income, gains or losses. SEPARATE ACCOUNT ASSETS We will maintain, in the Separate Account, assets with a value at least equal to the amounts accumulated in accordance with the terms of the applicable agreements with respect to the Separate Account and the reserves for annuities, in the course of payment that vary with the investment experience of the Separate Account.

VARIABLE ACCOUNT PROVISIONS. INVESTMENT ACCOUNT We will establish a separate Investment Account for you for each variable Investment Option to which you allocate amounts. The Investment Account represents the number of your Accumulation Units in an Investment Option. INVESTMENT ACCOUNT VALUE The Investment Account Value of an Investment Option Account is determined by multiplying (a) times (b) where: (a) equals the number of Accumulation Units credited to the Investment OptionAccount; and,; (b) equals the value of the appropriate Accumulation Unit ValueUnit. ACCUMULATION UNITS We will credit Net Payments to your Investment Options Accounts in the form of Accumulation Units. The number of Accumulation Units we will credit to each Investment Option Account of the Contract will be determined by dividing the Net Payment allocated to that Investment Option Account by the Accumulation Unit Value value for that Investment OptionAccount. VENTURE-B.11-NY 6 SAMPLE Accumulation Units will be adjusted for any transfers and will be canceled on payment of a death benefit, withdrawal, maturity or assessment of certain charges based on their value for the Valuation Period in Business Day on which such transaction occurs. VALUE OF ACCUMULATION UNIT VALUE We will determine the Accumulation Unit Value value for a particular Investment Option Account for any Valuation Period Business Day by multiplying the Accumulation Unit Value value for the immediately preceding Valuation Period Business Day by the net investment factor for the corresponding Sub-Account for the Valuation Period for which the value is being determined. The value of an Accumulation Unit Value may increase, decrease or remain the same from one Valuation Period Business Day to the next. NET INVESTMENT FACTOR The net investment factor is an index that measures the investment performance of a Sub-Account Subaccount from one Valuation Period Business Day to the nextnext (" the Valuation Period"). The net investment factor for any Valuation Period is determined by dividing (a) by (b) and subtracting (c) from the result where: (a) is the net result of: 1(i) the net asset value per share of a Portfolio share held in the Sub-Account Subaccount determined as of the end of the current Valuation Period, plus: 2(ii) the per share amount of any dividend or capital gain distributions made by the Portfolio on shares held in the Sub-Account if the ex-dividend date occurs Subaccount and received during the current Valuation Period, ; and (b) is the net asset value per share of a Portfolio share held in the Sub-Account Subaccount determined as of the end of the immediately preceding Valuation Period, ; and (c) is the Contract Asset Fee shown on the Specifications PagePages divided by 365 and multiplied by the number of calendar days in the Valuation Period. The net investment factor may be greater or less than, or equal to, one. ADDITION, DELETION, SUBSTITUTION We reserve the right, subject to prior approval of the OR RESTRICTION OF INVESTMENT New York Superintendent of Insurance and in compliance OPTIONS with applicable law, to make additions to, deletions from, or substitutions for the Portfolio shares that are held by the Variable Account or that the Variable Account may purchase. We reserve the right to eliminate the shares of any of the eligible Portfolios and to substitute shares of another Portfolio. We will not substitute any shares attributable to your interest in a Subaccount without notice to you and prior approval of the Securities and Exchange Commission to the extent required by the Investment Company Act of 1940. Nothing contained herein shall prevent the Variable Account from purchasing other securities for other series or classes of contracts, or from effecting a conversion between shares of another open-end investment company. We reserve the right, subject to prior approval of the New York Superintendent of Insurance and in compliance with applicable law, to establish additional Subaccounts which would invest in shares of a new Portfolio. We also reserve the right to eliminate existing Subaccounts, to restrict or prohibit additional allocations to a Subaccount, to combine Subaccounts or to transfer assets in a Subaccount to another Separate Account established by us or an affiliated company. In the event of any such substitution or change, we may, by appropriate endorsement, make such changes in this and other Contracts as may be necessary or appropriate to reflect such substitutions or change. If deemed by us to be in the best interests of persons having voting rights under the Contracts, the Variable Account may be operated as a management company under the Investment Company Act of 1940 or it may be de-registered under such Act in the event such registration is no longer required. VENTURE-B.11-NY 7 SAMPLE INSULATION The portion of the assets of the Variable Account equal to the reserves and other contract liabilities with respect to such account shall not be charged with liabilities arising out of any other business we may conduct. Moreover, the income, gains and losses, realized or unrealized, from assets allocated to the Variable Account shall be credited to or charged against such account without regard to our other income, gains or losses. SEPARATE ACCOUNT ASSETS We will maintain, in the Separate Account, assets with a value at least equal to the amounts accumulated in accordance with the terms of the applicable agreements with respect to the Separate Account and the reserves for annuities, in the course of payment that vary with the investment experience of the Separate Account.

VARIABLE ACCOUNT PROVISIONS. INVESTMENT ACCOUNT VALUE Investment Account We will establish a separate Investment Account for you for each variable Investment Option to which you allocate amounts. The Investment Account represents the number of your Accumulation Units in an Investment Option. Investment Account Value The Investment Account Value of an Investment Option Account is determined by multiplying (a) times (b) where: (a) equals the number of Accumulation Units credited to the Investment OptionAccount; and,; (b) equals the value of the appropriate Accumulation Unit ValueUnit. ACCUMULATION UNITS Accumulation Units We will credit Net Payments to your Investment Options Accounts in the form of Accumulation Units. The number of Accumulation Units we will credit to each Investment Option Account of the Contract will be determined by dividing the Net Payment allocated to that Investment Option Account by the Accumulation Unit Value value for that Investment OptionAccount. VENTURE-EJA.11-NY Accumulation Units will be adjusted for any transfers and will be canceled on payment of a death benefit, withdrawal, maturity or assessment of certain charges based on their value for the Valuation Period in Business Day on which such transaction occurs. ACCUMULATION UNIT VALUE Value Of Accumulation Unit We will determine the Accumulation Unit Value value for a particular Investment Option Account for any Valuation Period Business Day by multiplying the Accumulation Unit Value value for the immediately preceding Valuation Period Business Day by the net investment factor for the corresponding Sub-Account for the Valuation Period for which the value is being determined. The value of an Accumulation Unit Value may increase, decrease or remain the same from one Valuation Period Business Day to the next. NET INVESTMENT FACTOR Net Investment Factor The net investment factor is an index that measures the investment performance of a Sub-Account Subaccount from one Valuation Period Business Day to the nextnext (“ the Valuation Period”). The net investment factor for any Valuation Period is determined by dividing (a) by (b) and subtracting (c) from the result where: (a) is the net result of: 1(i) the net asset value per share of a Portfolio share held in the Sub-Account Subaccount determined as of the end of the current Valuation Period, plus: 2(ii) the per share amount of any dividend or capital gain distributions made by the Portfolio on shares held in the Sub-Account if the ex-dividend date occurs Subaccount and received during the current Valuation Period, ; and (b) is the net asset value per share of a Portfolio share held in the Sub-Account Subaccount determined as of the end of the immediately preceding Valuation Period, ; and (c) is the Contract Asset Fee shown on the Specifications PagePages divided by 365 and multiplied by the number of calendar days in the Valuation Period. The net investment factor may be greater or less than, or equal to, one.. Addition, Deletion, Substitution Or Restriction Of Investment Options We reserve the right, subject to prior approval of the New York Superintendent of Insurance and in compliance with applicable law, to make additions to, deletions from, or substitutions for the Portfolio shares that are held by the Variable Account or that the Variable Account may purchase. We reserve the right to eliminate the shares of any of the eligible Portfolios and to substitute shares of another Portfolio. We will not substitute any shares attributable to your interest in a Subaccount without notice to you and prior approval of the Securities and Exchange Commission to the extent required by the Investment Company Act of 1940. Nothing contained herein shall prevent the Variable Account from purchasing other securities for other series or classes of contracts, or from effecting a conversion between shares of another open-end investment company. VENTURE-EJA.11-NY We may make certain changes that we anticipate would best serve the interest of owners of these or similar contracts or would be appropriate in carrying out the purposes of such contracts. Any changes will be subject to prior approval of the New York Superintendent of Insurance and in compliance with applicable laws. Such changes may include the establishment of additional Subaccounts which would invest in shares of a new Portfolio, the elimination of existing Subaccounts, the restriction of or prohibition of additional allocations to a Subaccount, the combination of Subaccounts or the transfer of assets in a Subaccount to another Separate Account established by us or an affiliated company. In the event of any such substitution or change, we may, by appropriate endorsement, make such changes in this and other Contracts as may be necessary or appropriate to reflect such substitutions or change. If deemed by us to be in the best interests of persons having voting rights under the Contracts, the Variable Account may be operated as a management company under the Investment Company Act of 1940 or it may be de-registered under such Act in the event such registration is no longer required. Insulation The portion of the assets of the Variable Account equal to the reserves and other contract liabilities with respect to such account shall not be charged with liabilities arising out of any other business we may conduct. Moreover, the income, gains and losses, realized or unrealized, from assets allocated to the Variable Account shall be credited to or charged against such account without regard to our other income, gains or losses. Separate Account Assets We will maintain, in the Separate Account, assets with a value at least equal to the amounts accumulated in accordance with the terms of the applicable agreements with respect to the Separate Account and the reserves for annuities, in the course of payment that vary with the investment experience of the Separate Account. VENTURE-EJA.11-NY

VARIABLE ACCOUNT PROVISIONS. INVESTMENT ACCOUNT VALUE The Investment Account Value of an Investment Option is determined by multiplying (a) times (b) where: (a) equals the number of Accumulation Units credited to the Investment Option; and, (b) equals the appropriate Accumulation Unit Value. ACCUMULATION UNITS We will credit Net Payments to your Investment Options in the form of Accumulation Units. The number of Accumulation Units we will credit to each the Investment Option Option(s) will be determined by dividing the Net Payment allocated to that Investment Option by the Accumulation Unit Value for that Investment Option. Accumulation Units will be adjusted for any transfers and will be canceled on payment of a death benefit, withdrawal, maturity or assessment of certain charges based on their value for the Valuation Period in which such transaction occurs. ACCUMULATION UNIT VALUE We will determine the Accumulation Unit Value for a particular Investment Option for any Valuation Period by multiplying the Accumulation Unit Value for the immediately preceding Valuation Period by the net investment factor for the corresponding Sub-Account for the Valuation Period for which the value is being determined. The Accumulation Unit Value may increase, decrease or remain the same from one Valuation Period to the next. NET INVESTMENT FACTOR The net investment factor is an index that measures the investment performance of a Sub-Account from one Valuation Period to the next. The net investment factor for any Valuation Period is determined by dividing (a) by (b) and subtracting (c) from the result where: (a) is the net result of: 1) the net asset value per share of a Portfolio share held in the Sub-Account determined as of the end of the current Valuation Period, plus: 2) the per share amount of any dividend or capital gain distributions made by the Portfolio on shares held in the Sub-Account if the ex-dividend date occurs during the current Valuation Period, and (b) is the net asset value per share of a Portfolio share held in the Sub-Account determined as of the end of the immediately preceding Valuation Period, and (c) is the Contract Asset Fee shown on the Specifications Page. The net investment factor may be greater or less than, or equal to, one. TRANSFERS Before the Maturity Date (or the date Annuity Payments begin, if earlier), if we offer more than one Investment Option you may transfer amounts among such Investment Options. Amounts will be canceled from the Investment Option(s) from which amounts are transferred and credited to the Investment Option(s) to which amounts are transferred. We will effect such transfers so that the Contract Value on the date of transfer will not be affected by the transfer. We may defer, modify or terminate the transfer privilege at any time that we are unable to purchase or redeem shares of the Portfolios or when a portfolio requires us to impose restrictions due to violation of its short term trading policy. Transfer limitations are identified in the Suspension of Payments provision. 5.1 SUSPENSION OF PAYMENTS We may defer the right of withdrawal from, or postpone the date of payments or transfers from, the variable Investment Option(s) for any period when: (a) the New York Stock Exchange is closed (other than customary weekend and holiday closings); (b) trading on the New York Stock Exchange is restricted; (c) an emergency exists as a result of which disposal of securities held in the Variable Account is not reasonably practicable or it is not reasonably practicable to determine the value of the Variable Account's net assets; or (d) the Securities and Exchange Commission, by order, permits such deferral or postponement for the protection of security holders. Applicable rules and regulations of the Securities and Exchange Commission shall govern whether the conditions described in (b) and (c) exist.

VARIABLE ACCOUNT PROVISIONS. INVESTMENT ACCOUNT VALUE Investment Account We will establish a separate Investment Account for you for each variable Investment Option to which you allocate amounts. The Investment Account represents the number of your Accumulation Units in an Investment Option. Investment Account Value The Investment Account Value of an Investment Option Account is determined by multiplying (a) times (b) where: (a) equals the number of Accumulation Units credited to the Investment OptionAccount; and,; (b) equals the value of the appropriate Accumulation Unit ValueUnit. ACCUMULATION UNITS Accumulation Units We will credit Net Payments to your Investment Options Accounts in the form of Accumulation Units. The number of Accumulation Units we will credit to each Investment Option Account of the Contract will be determined by dividing the Net Payment allocated to that Investment Option Account by the Accumulation Unit Value value for that Investment OptionAccount. Accumulation Units will be adjusted for any transfers and will be canceled on payment of a death benefit, withdrawal, maturity or assessment of certain charges based on their value for the Valuation Period in Business Day on which such transaction occurs. ACCUMULATION UNIT VALUE Value Of Accumulation Unit We will determine the Accumulation Unit Value value for a particular Investment Option Account for any Valuation Period Business Day by multiplying the Accumulation Unit Value value for the immediately preceding Valuation Period Business Day by the net investment factor for the corresponding Sub-Account for the Valuation Period for which the value is being determined. The value of an Accumulation Unit Value may increase, decrease or remain the same from one Valuation Period Business Day to the next. NET INVESTMENT FACTOR Net Investment Factor The net investment factor is an index that measures the investment performance of a Sub-Account Subaccount from one Valuation Period Business Day to the nextnext (” the Valuation Period”). The net investment factor for any Valuation Period is determined by dividing (a) by (b) and subtracting (c) from the result where:: ICC11-VENTURE-EJO.11 (a) is the net result of: 1(i) the net asset value per share of a Portfolio share held in the Sub-Account Subaccount determined as of the end of the current Valuation Period, plus: 2(ii) the per share amount of any dividend or capital gain distributions made by the Portfolio on shares held in the Sub-Account if the ex-dividend date occurs Subaccount and received during the current Valuation Period, ; and (b) is the net asset value per share of a Portfolio share held in the Sub-Account Subaccount determined as of the end of the immediately preceding Valuation Period, ; and (c) is the Contract Asset Fee shown on the Specifications PagePages divided by 365 and multiplied by the number of calendar days in the Valuation Period. The net investment factor may be greater or less than, or equal to, one.. Addition, Deletion, Substitution Or Restriction Of Investment Options We reserve the right, subject to compliance with applicable law, to make additions to, deletions from, or substitutions for the Portfolio shares that are held by the Variable Account or that the Variable Account may purchase. We reserve the right to eliminate the shares of any of the eligible Portfolios and to substitute shares of another Portfolio. We will not substitute any shares attributable to your interest in a Subaccount without notice to you and prior approval of the Securities and Exchange Commission to the extent required by the Investment Company Act of 1940. Nothing contained herein shall prevent the Variable Account from purchasing other securities for other series or classes of contracts, or from effecting a conversion between shares of another open-end investment company. We may make certain changes that we anticipate would best serve the interest of owners of these or similar contracts or would be appropriate in carrying out the purposes of such contracts. Any changes will be made only to the extent and in the manner permitted by applicable laws. Such changes may include the establishment of additional Subaccounts which would invest in shares of a new Portfolio, the elimination of existing Subaccounts, the restriction of or prohibition of additional allocations to a Subaccount, the combination of Subaccounts or the transfer of assets in a Subaccount to another Separate Account established by us or an affiliated company. In the event of any such substitution or change, we may, by appropriate endorsement, make such changes in this and other Contracts as may be necessary or appropriate to reflect such substitutions or change. If deemed by us to be in the best interests of persons having voting rights under the Contracts, the Variable Account may be operated as a management company under the Investment Company Act of 1940 or it may be de-registered under such Act in the event such registration is no longer required. Insulation The portion of the assets of the Variable Account equal to the reserves and other contract liabilities with respect to such account shall not be charged with liabilities arising out of any other business we may conduct. Moreover, the income, gains and losses, realized or unrealized, from assets allocated to the Variable Account shall be credited to or charged against such account without regard to our other income, gains or losses. ICC11-VENTURE-EJO.11

VARIABLE ACCOUNT PROVISIONS. INVESTMENT ACCOUNT We will establish a separate Investment Account for you for each variable Investment Option to which you allocate amounts. The Investment Account represents the number of your Accumulation Units in an Investment Option. INVESTMENT ACCOUNT VALUE The Investment Account Value of an Investment Option Account is determined by multiplying (a) times (b) where: (a) equals the number of Accumulation Units credited to the Investment OptionAccount; and,; (b) equals the value of the appropriate Accumulation Unit ValueUnit. ACCUMULATION UNITS We will credit Net Payments to your Investment Options Accounts in the form of Accumulation Units. The number of Accumulation Units we will credit to each Investment Option Account of the Contract will be determined by dividing the Net Payment allocated to that Investment Option Account by the Accumulation Unit Value value for that Investment OptionAccount. VENTUREW-L.11-NY SAMPLE Accumulation Units will be adjusted for any transfers and will be canceled on payment of a death benefit, withdrawal, maturity or assessment of certain charges based on their value for the Valuation Period in Business Day on which such transaction occurs. VALUE OF ACCUMULATION UNIT VALUE We will determine the Accumulation Unit Value value for a UNIT particular Investment Option Account for any Valuation Period Business Day by multiplying the Accumulation Unit Value value for the immediately preceding Valuation Period Business Day by the net investment factor for the corresponding Sub-Account for the Valuation Period for which the value is being determined. The value of an Accumulation Unit Value may increase, decrease or remain the same from one Valuation Period Business Day to the next. NET INVESTMENT FACTOR The net investment factor is an index that measures the investment performance of a Sub-Account Subaccount from one Valuation Period Business Day to the nextnext (" the Valuation Period"). The net investment factor for any Valuation Period is determined by dividing (a) by (b) and subtracting (c) from the result where: (a) is the net result of: 1(i) the net asset value per share of a Portfolio share held in the Sub-Account Subaccount determined as of the end of the current Valuation Period, plus: 2(ii) the per share amount of any dividend or capital gain distributions made by the Portfolio on shares held in the Sub-Account if the ex-dividend date occurs Subaccount and received during the current Valuation Period, ; and (b) is the net asset value per share of a Portfolio share held in the Sub-Account Subaccount determined as of the end of the immediately preceding Valuation Period, ; and (c) is the Contract Asset Fee shown on the Specifications PagePages divided by 365 and multiplied by the number of calendar days in the Valuation Period. The net investment factor may be greater or less than, or equal to, one. ADDITION, DELETION, We reserve the right, subject to prior approval of SUBSTITUTION OR the New York Superintendent of Insurance and in RESTRICTION OF compliance with applicable law, to make additions INVESTMENT OPTIONS to, deletions from, or substitutions for the Portfolio shares that are held by the Variable Account or that the Variable Account may purchase. We reserve the right to eliminate the shares of any of the eligible Portfolios and to substitute shares of another Portfolio. We will not substitute any shares attributable to your interest in a Subaccount without notice to you and prior approval of the Securities and Exchange Commission to the extent required by the Investment Company Act of 1940. Nothing contained herein shall prevent the Variable Account from purchasing other securities for other series or classes of contracts, or from effecting a conversion between shares of another open-end investment company. We reserve the right, subject to prior approval of the New York Superintendent of Insurance and in compliance with applicable law, to establish additional Subaccounts which would invest in shares of a new Portfolio. We also reserve the right to eliminate existing Subaccounts, to restrict or prohibit additional allocations to a Subaccount, to combine Subaccounts or to transfer assets in a Subaccount to another Separate Account established by us or an affiliated company. In the event of any such substitution or change, we may, by appropriate endorsement, make such changes in this and other Contracts as may be necessary or appropriate to reflect such substitutions or change. If deemed by us to be in the best interests of persons having voting rights under the Contracts, the Variable Account may be operated as a management company under the Investment Company Act of 1940 or it may be de-registered under such Act in the event such registration is no longer required. VENTUREW-L.11-NY SAMPLE INSULATION The portion of the assets of the Variable Account equal to the reserves and other contract liabilities with respect to such account shall not be charged with liabilities arising out of any other business we may conduct. Moreover, the income, gains and losses, realized or unrealized, from assets allocated to the Variable Account shall be credited to or charged against such account without regard to our other income, gains or losses. SEPARATE ACCOUNT ASSETS We will maintain, in the Separate Account, assets with a value at least equal to the amounts accumulated in accordance with the terms of the applicable agreements with respect to the Separate Account and the reserves for annuities, in the course of payment that vary with the investment experience of the Separate Account.

VARIABLE ACCOUNT PROVISIONS. INVESTMENT ACCOUNT VALUE The Investment Account Value of an Investment Option is determined by multiplying (a) times (b) where: (a) equals the number of Accumulation Units credited to the Investment Option; and, (b) equals the appropriate Accumulation Unit Value. ACCUMULATION UNITS We will credit the Net Payments Payment to your Investment Options in the form of Accumulation Units. The number of Accumulation Units we will credit to each Investment Option will be determined by dividing the Net Payment allocated to that Investment Option by the Accumulation Unit Value for that Investment Option. Accumulation Units will be adjusted for any transfers and will be canceled on payment of a death benefit, withdrawal, maturity or assessment of certain charges based on their value for the Valuation Period in which such transaction occurs. ACCUMULATION UNIT VALUE We will determine the Accumulation Unit Value for a particular Investment Option for any Valuation Period by multiplying the Accumulation Unit Value for the immediately preceding Valuation Period by the net investment factor for the corresponding Sub-Account for the Valuation Period for which the value is being determined. The Accumulation Unit Value may increase, decrease or remain the same from one Valuation Period to the next. NET INVESTMENT FACTOR The net investment factor is an index that measures the investment performance of a Sub-Account from one Valuation Period to the next. The net investment factor for any Valuation Period is determined by dividing (a) by (b) and subtracting (c) from the result where: (a) is the net result of: 1) the net asset value per share of a Portfolio share held in the Sub-Account determined as of the end of the current Valuation Period, plus: 2) the per share amount of any dividend or capital gain distributions made by the Portfolio on shares held in the Sub-Account if the ex-dividend date occurs during the current Valuation Period, and (b) is the net asset value per share of a Portfolio share held in the Sub-Account determined as of the end of the immediately preceding Valuation Period, and (c) is the Contract Asset Fee shown on the Specifications Page. The net investment factor may be greater or less than, or equal to, one.