Common use of Variable Annuity Payments Clause in Contracts

Variable Annuity Payments. The Company will determine the initial Variable Annuity Payment by applying annuity rates consistent with the age and sex (unless unisex rates apply) of the Annuitant and, if applicable, the designated second person, to the portion of the Contract Value allocated to the Variable Annuity Payment options, less any applicable taxes and other Contract charges. Annuity rates applied will not be less than the rates provided in the Contract's Table of Income Options. The Company will determine the second and subsequent Variable Annuity Payments in two (2) steps. First, the Company will divide the initial Variable Annuity Payment by the Annuity Unit Value calculated on the Income Date to establish a number of Annuity Units. Second, the Company will multiply that number of Annuity Units by the Annuity Unit Value determined on the Business Day next preceding the date on which each payment is due. The result of each calculation determines the Variable Annuity Payment due. Once Variable Annuity Payments have begun, the number of Annuity Units remains constant absent a reallocation between the Investment Divisions. Variable Annuity Payments are not affected by expenses other than taxes. The Contract Data Pages specify the minimum investment return Your Investment Division(s) must earn to avoid a decrease in the dollar amount of Variable Annuity Payments. Annuity Unit Value. The Company sets the initial value of an Annuity Unit of each Investment Division when the Company establishes the Investment Division. The Annuity Unit Value reflects the investment performance of an Investment Division and may increase or decrease from one Business Day to the next. The Contract's Table of Income Options assumes the net investment rates described in the Contract's Basis of Computation provision. Therefore, if an Investment Division's actual net investment rate is greater than or less than the assumed net investment rate, Variable Annuity Payments will increase or decrease accordingly over time. The Company calculates each Investment Division's Annuity Unit Value for any Business Day in two (2) steps: First, the Company multiplies the immediately preceding Business Day's Annuity Unit Value by the Business Day's "net investment factor" determined on the day of the calculation. The Company determines the "net investment factor," which reflects changes in the Investment Division's net asset value, by dividing the value established at (1) below by the value established at (2) below, and then subtracting the value established at (3) below, where: ICC19 VA670 23

Variable Annuity Payments. The Company annuity payment options are available on a variable basis. The total amount of each variable annuity payment will determine be the initial sum of the variable annuity payments for each Variable Account selected by the Owner to apply to an annuity payment option. The dollar amount of the first variable annuity payment will depend on: • the value of each Variable Account on the first Valuation Date preceding the Annuity Payment by applying Commencement Date; • the annuity rates consistent with payment option selected; • the age and sex (unless unisex rates apply) of the Annuitant andannuitant / Owner; • the annuity purchase rates, if applicable, which shall be the designated second person, same rates that are available for a single premium immediate annuity currently offered by Great-West at the time the Owner begins receiving annuity payments; • an assumed interest rate (“AIR”)of [2.5%]; • the deduction of any applicable premium taxes; and • the deduction of any Contract fees and charges. The dollar amount of additional variable annuity payments will vary based on the investment performance of the Variable Accounts selected by the Owner to apply to an annuity payment option. This amount is equal to the sum of the amounts determined by multiplying the number of annuity units of each particular Variable Account by the annuity unit value for the particular Variable Account on the date the payment is made. The number of annuity units to be credited in respect of a particular Variable Account is determined by dividing the portion of the Contract Value allocated first variable annuity payment attributable to that Variable Account by the annuity unit value of that Variable Account on the Annuity Payment optionsCommencement Date. The number of annuity units of each particular Variable Account then remains fixed, less any applicable taxes assuming no transfers to or from that Variable Account occur. The dollar amount of each variable annuity payment after the first may increase, decrease, or remain constant. If the actual investment performance of a Variable Account (net of fees and other Contract chargesexpenses) exactly matches the AIR of [2.5%] at all times, the amount of each variable annuity payment would remain constant. Annuity rates applied will not be less If actual investment performance (net of fees and expenses) exceeds the AIR, the amount of the variable annuity payments would [SecureFoundation VA] ▇▇▇ - 22 - increase. Conversely, if actual investment performance (net of fees and expenses) is lower than the rates provided in the Contract's Table of Income Options. The Company will determine the second and subsequent Variable Annuity Payments in two (2) steps. Firstassumed investment return, the Company will divide amount of the initial Variable Annuity Payment by the Annuity Unit Value calculated on the Income Date to establish a number of Annuity Units. Second, the Company will multiply that number of Annuity Units by the Annuity Unit Value determined on the Business Day next preceding the date on which each payment is due. The result of each calculation determines the Variable Annuity Payment duevariable annuity payments would decrease. Once Variable Annuity Payments variable annuity payments have begun, the Owner may transfer all or a portion of his or her Covered Fund Value from one Variable Account to another. Transfers after the Annuity Commencement Date will be made by converting the number of Annuity Units remains constant absent a reallocation between annuity units being transferred to the Investment Divisionsnumber of annuity units of the Variable Account to which the transfer is made. Variable Annuity Payments are not affected by expenses other than taxes. The Contract Data Pages specify Thereafter, annuity payments will reflect the minimum investment return Your Investment Division(s) must earn to avoid a decrease in the dollar amount of Variable Annuity Payments. Annuity Unit Value. The Company sets the initial value of an Annuity Unit of each Investment Division when the Company establishes the Investment Division. The Annuity Unit Value reflects the investment performance of an Investment Division and may increase or decrease from one Business Day the Variable Account to which the next. The Contract's Table of Income Options assumes the net investment rates described in the Contract's Basis of Computation provision. Therefore, if an Investment Division's actual net investment rate transfer is greater than or less than the assumed net investment rate, Variable Annuity Payments will increase or decrease accordingly over time. The Company calculates each Investment Division's Annuity Unit Value for any Business Day in two (2) steps: First, the Company multiplies the immediately preceding Business Day's Annuity Unit Value by the Business Day's "net investment factor" determined on the day of the calculation. The Company determines the "net investment factor," which reflects changes in the Investment Division's net asset value, by dividing the value established at (1) below by the value established at (2) below, and then subtracting the value established at (3) below, where: ICC19 VA670 23made.

Variable Annuity Payments. The Company will determine the initial Variable Annuity Payment by applying annuity rates consistent with the age and sex (unless unisex rates apply) of the Annuitant and, if applicable, the designated second person, to the portion of the Contract Value allocated to the Variable Annuity Payment options, less any applicable taxes and other Contract charges. Annuity rates applied will not be less than the rates provided in the Contract's Table of Income Options. The Company will determine the second and subsequent Variable Annuity Payments in two (2) steps. First, the Company will divide the initial Variable Annuity Payment by the Annuity Unit Value calculated on the Income Date to establish a number of Annuity Units. Second, the Company will multiply that number of Annuity Units by the Annuity Unit Value determined on the Business Day next preceding the date on which each payment is due. The result of each calculation determines the Variable Annuity Payment due. Once Variable Annuity Payments have begun, the number of Annuity Units remains constant absent a reallocation between the Investment Divisions. Variable Annuity Payments are not affected by expenses other than taxes. The Contract Data Pages specify Neither expenses actually incurred, other than taxes on the minimum investment return Your Investment Division(s) must earn to avoid a decrease in return, nor the mortality actually experienced, shall adversely affect the dollar amount of Variable Annuity PaymentsPayments after such payments have commenced. Annuity Unit Value. The Company sets the initial value of an Annuity Unit of each Investment Division when the Company establishes the Investment Division. The Annuity Unit Value reflects the investment performance of an Investment Division and may increase or decrease from one Business Day to the next. The Contract's Table of Income Options assumes the net investment rates described in the Contract's Basis of Computation provision. Therefore, if an Investment Division's actual net investment rate is greater than or less than the assumed net investment rate, Variable Annuity Payments will increase or decrease accordingly over time. The Company calculates each Investment Division's Annuity Unit Value for any Business Day in two (2) steps: First, the Company multiplies the immediately preceding Business Day's Annuity Unit Value by the Business Day's "net investment factor" determined on the day of the calculation. The Company determines the "net investment factor," which reflects changes in the Investment Division's net asset value, by dividing the value established at (1) below by the value established at (2) below, and then subtracting the value established at (3) below, where: ICC19 VA670 23VA680NY 17

Variable Annuity Payments. The Company will determine the initial Variable Annuity Payment by applying annuity rates consistent with the age and sex (unless unisex rates apply) of the Annuitant and, if applicable, the designated second person, to the portion of the Contract Value allocated to the Variable Annuity Payment options, less any applicable taxes and other Contract charges. Annuity rates applied will not be less than the rates provided in the Contract's Table of Income Options. The Company will determine the second and subsequent Variable Annuity Payments in two (2) steps. First, the Company will divide the initial Variable Annuity Payment by the Annuity Unit Value calculated on the Income Date to establish a number of Annuity Units. Second, the Company will multiply that number of Annuity Units by the Annuity Unit Value determined on the Business Day next preceding the date on which each payment is due. The result of each calculation determines the Variable Annuity Payment due. Once Variable Annuity Payments have begun, the number of Annuity Units remains constant absent a reallocation between the Investment Divisions. Variable Annuity Payments are not affected by expenses other than taxes. The Contract Data Pages specify Neither expenses actually incurred, other than taxes on the minimum investment return Your Investment Division(s) must earn to avoid a decrease in return, nor the mortality actually experienced, shall adversely affect the dollar amount of Variable Annuity PaymentsPayments after such payments have commenced. Annuity Unit Value. The Company sets the initial value of an Annuity Unit of each Investment Division when the Company establishes the Investment Division. The Annuity Unit Value reflects the investment performance of an Investment Division and may increase or decrease from one Business Day to the next. The Contract's Table of Income Options assumes the net investment rates described in the Contract's Basis of Computation provision. Therefore, if an Investment Division's actual net investment rate is greater than or less than the assumed net investment rate, Variable Annuity Payments will increase or decrease accordingly over time. The Company calculates each Investment Division's Annuity Unit Value for any Business Day in two (2) steps: First, the Company multiplies the immediately preceding Business Day's Annuity Unit Value by the Business Day's "net investment factor" determined on the day of the calculation. The Company determines the "net investment factor," which reflects changes in the Investment Division's net asset value, by dividing the value established at (1) below by the value established at (2) below, and then subtracting the value established at (3) below, where: ICC19 VA670 23VA670NY 24

Variable Annuity Payments. The Company will determine the initial Variable Annuity Payment by applying annuity rates consistent with the age and sex (unless unisex rates apply) of the Annuitant and, if applicable, the designated second person, to the portion of the Contract Value allocated to the Variable Annuity Payment options, less any applicable taxes and other Contract charges. Annuity rates applied will not be less than the rates provided in the Contract's Table of Income Options. The Company will determine the second and subsequent Variable Annuity Payments in two (2) steps. First, the Company will divide the initial Variable Annuity Payment by the Annuity Unit Value calculated on the Income Date to establish a number of Annuity Units. Second, the Company will multiply that number of Annuity Units by the Annuity Unit Value determined on the Business Day next preceding the date on which each payment is due. The result of each calculation determines the Variable Annuity Payment due. Once Variable Annuity Payments have begun, the number of Annuity Units remains constant absent a reallocation between the Investment Divisions. Variable Annuity Payments are not affected by expenses other than taxes. The Contract Data Pages specify Neither expenses actually incurred, other than taxes on the minimum investment return Your Investment Division(s) must earn to avoid a decrease in return, nor the mortality actually experienced, shall adversely affect the dollar amount of Variable Annuity PaymentsPayments after such payments have commenced. Annuity Unit Value. The Company sets the initial value of an Annuity Unit of each Investment Division when the Company establishes the Investment Division. The Annuity Unit Value reflects the investment performance of an Investment Division and may increase or decrease from one Business Day to the next. The Contract's Table of Income Options assumes the net investment rates described in the Contract's Basis of Computation provision. Therefore, if an Investment Division's actual net investment rate is greater than or less than the assumed net investment rate, Variable Annuity Payments will increase or decrease accordingly over time. The Company calculates each Investment Division's Annuity Unit Value for any Business Day in two (2) steps: First, the Company multiplies the immediately preceding Business Day's Annuity Unit Value by the Business Day's "net investment factor" determined on the day of the calculation. The Company determines the "net investment factor," which reflects changes in the Investment Division's net asset value, by dividing the value established at (1) below by the value established at (2) below, and then subtracting the value established at (3) below, where: ICC19 VA670 23VA710NY 26

Variable Annuity Payments. The Company will determine the initial Variable Annuity Payment by applying annuity rates consistent with the age and sex (unless unisex rates apply) of the Annuitant and, if applicable, the designated second person, to the portion of the Contract Value allocated to the Variable Annuity Payment options, less any applicable taxes and other Contract charges. Annuity rates applied will not be less than the rates provided in the Contract's Table of Income Options. The Company will determine the second and subsequent Variable Annuity Payments in two (2) steps. First, the Company will divide the initial Variable Annuity Payment by the Annuity Unit Value calculated on the Income Date to establish a number of Annuity Units. Second, the Company will multiply that number of Annuity Units by the Annuity Unit Value determined on the Business Day next preceding the date on which each payment is due. The result of each calculation determines the Variable Annuity Payment due. Once Variable Annuity Payments have begun, the number of Annuity Units remains constant absent a reallocation between the Investment Divisions. Variable Annuity Payments are not affected by expenses other than taxes. The Contract Data Pages specify Neither expenses actually incurred, other than taxes on the minimum investment return Your Investment Division(s) must earn to avoid a decrease in return, nor the mortality actually experienced, shall adversely effect the dollar amount of Variable Annuity PaymentsPayments after such payments have commenced. Annuity Unit Value. The Company sets the initial value of an Annuity Unit of each Investment Division when the Company establishes the Investment Division. The Annuity Unit Value reflects the investment performance of an Investment Division and may increase or decrease from one Business Day to the next. The Contract's Table of Income Options assumes the net investment rates described in the Contract's Basis of Computation provision. Therefore, if an Investment Division's actual net investment rate is greater than or less than the assumed net investment rate, Variable Annuity Payments will increase or decrease accordingly over time. The Company calculates each Investment Division's Annuity Unit Value for any Business Day in two (2) steps: First, the Company multiplies the immediately preceding Business Day's Annuity Unit Value by the Business Day's "net investment factor" determined on the day of the calculation. The Company determines the "net investment factor," which reflects changes in the Investment Division's net asset value, by dividing the value established at (1) below by the value established at (2) below, and then subtracting the value established at (3) below, where: ICC19 VA670 23VA775NY 26

Variable Annuity Payments. The Company will determine the initial Variable Annuity Payment by applying annuity rates consistent with the age and sex (unless unisex rates apply) of the Annuitant and, if applicable, the designated second person, to the portion of the Contract Value allocated to the Variable Annuity Payment options, less any applicable taxes and other Contract charges. Annuity rates applied will not be less than the rates provided in the Contract's Table of Income Options. The Company will determine the second and subsequent Variable Annuity Payments in two (2) steps. First, the Company will divide the initial Variable Annuity Payment by the Annuity Unit Value calculated on the Income Date to establish a number of Annuity Units. Second, the Company will multiply that number of Annuity Units by the Annuity Unit Value determined on the Business Day next preceding the date on which each payment is due. The result of each calculation determines the Variable Annuity Payment due. Once Variable Annuity Payments have begun, the number of Annuity Units remains constant absent a reallocation between the Investment Divisions. Variable Annuity Payments are not affected by expenses other than taxes. The Contract Data Pages specify the minimum investment return Your Investment Division(s) must earn to avoid a decrease in the dollar amount of Variable Annuity Payments. Annuity Unit Value. The Company sets the initial value of an Annuity Unit of each Investment Division when the Company establishes the Investment Division. The Annuity Unit Value reflects the investment performance of an Investment Division and may increase or decrease from one Business Day to the next. The Contract's Table of Income Options assumes the net investment rates described in the Contract's Basis of Computation provision. Therefore, if an Investment Division's actual net investment rate is greater than or less than the assumed net investment rate, Variable Annuity Payments will increase or decrease accordingly over time. The Company calculates each Investment Division's Annuity Unit Value for any Business Day in two (2) steps: First, the Company multiplies the immediately preceding Business Day's Annuity Unit Value by the Business Day's "net investment factor" determined on the day of the calculation. The Company determines the "net investment factor," which reflects changes in the Investment Division's net asset value, by dividing the value established at (1) below by the value established at (2) below, and then subtracting the value established at (3) below, where: ICC19 VA670 23VA720 26

Variable Annuity Payments. The Company will determine the initial Variable Annuity Payment by applying annuity rates consistent with the age and sex (unless unisex rates apply) of the Annuitant and, if applicable, the designated second person, to the portion of the Contract Value allocated to the Variable Annuity Payment options, less any applicable taxes and other Contract charges. Annuity rates applied will not be less than the rates provided in the Contract's Table of Income Options. The Company will determine the second and subsequent Variable Annuity Payments in two (2) steps. First, the Company will divide the initial Variable Annuity Payment by the Annuity Unit Value calculated on the Income Date to establish a number of Annuity Units. Second, the Company will multiply that number of Annuity Units by the Annuity Unit Value determined on the Business Day next preceding the date on which each payment is due. The result of each calculation determines the Variable Annuity Payment due. Once Variable Annuity Payments have begun, the number of Annuity Units remains constant absent a reallocation between the Investment Divisions. Variable Annuity Payments are not affected by expenses other than taxes. The Contract Data Pages specify Neither expenses actually incurred, other than taxes on the minimum investment return Your Investment Division(s) must earn to avoid a decrease in return, nor the mortality actually experienced, shall adversely affect the dollar amount of Variable Annuity PaymentsPayments after such payments have commenced. Annuity Unit Value. The Company sets the initial value of an Annuity Unit of each Investment Division when the Company establishes the Investment Division. The Annuity Unit Value reflects the investment performance of an Investment Division and may increase or decrease from one Business Day to the next. The Contract's Table of Income Options assumes the net investment rates described in the Contract's Basis of Computation provision. Therefore, if an Investment Division's actual net investment rate is greater than or less than the assumed net investment rate, Variable Annuity Payments will increase or decrease accordingly over time. The Company calculates each Investment Division's Annuity Unit Value for any Business Day in two (2) steps: First, the Company multiplies the immediately preceding Business Day's Annuity Unit Value by the Business Day's "net investment factor" determined on the day of the calculation. The Company determines the "net investment factor," which reflects changes in the Investment Division's net asset value, by dividing the value established at (1) below by the value established at (2) below, and then subtracting the value established at (3) below, where: ICC19 VA670 23VA720NY 26

Variable Annuity Payments. The Company will determine guaranteed purchase rates for variable Annuity Payments are based on the initial Variable Annuity Mortality Table and the Assumed Investment Rate, and are shown in Table B on the Contract Schedule. The Annuity Mortality Table and Assumed Investment Rate are also shown on the Contract Schedule. The first variable Annuity Payment by applying annuity rates consistent with the age and sex (unless unisex rates apply) of the Annuitant and, if applicable, the designated second person, is equal to the portion of the Contract Adjusted Base Account Value allocated to variable Annuity Payments, divided by $1,000, and then muliplied by the applicable purchase rate for the Annuity Option you select. Variable Annuity Payment optionsPayments may change, less any applicable taxes based on the performance of your selected Investment Options and other Contract chargesthe Assumed Investment Rate. Annuity rates applied The Assumed Investment Rate will not be less greater than 5%. We then purchase a fixed number of Annuity Units on the rates provided in the Contract's Table Annuity Date for each subaccount of Income your selected Investment Options. The Company will determine We do this by dividing the second and subsequent Variable amount of the first Annuity Payments in two (2) stepsPayment among your selected Investment Options’ subaccounts according to your future Purchase Payment allocation instructions. First, the Company will We then divide the initial Variable Annuity Payment amount in each subaccount by the subaccount’s Annuity Unit value. On each Business Day after the Annuity Date, we determine each subaccount’s Annuity Unit value by multiplying the Annuity Unit Value calculated on value for the Income Date prior Business Day by the Net Investment Factor for the current Business Day, and then dividing by the assumed Net Investment Factor for the current Business Day. The assumed Net Investment Factor for the current Business Day is equal to establish a one plus the Assumed Investment Rate, adjusted to reflect the number of calendar days that have elapsed since the prior Business Day. Thereafter, the number of Annuity UnitsUnits in each subaccount remains unchanged unless you make a Transfer. SecondHowever, the Company number of Annuity Units will multiply that change if, under Annuity Option 3, one Annuitant dies and you requested Annuity Payments at 75% or 50% of the previous payment amount. All calculations will appropriately reflect the payment frequency you selected. On each subsequent variable Annuity Payment date, the total variable Annuity Payment is the sum of the variable Annuity Payments for each subaccount. We determine the Annuity Payment for each subaccount by multiplying the subaccount’s number of Annuity Units by the Annuity Unit Value determined value on the Business Day next preceding payment date. After the date on which each payment is due. The result of each calculation determines the Variable Annuity Payment due. Once Variable Annuity Payments have begunDate, the number of Annuity Units remains constant absent a reallocation between actual expenses and mortality experienced by the Investment Divisions. Variable Annuity Payments are not affected by expenses Company, other than taxes. The Contract Data Pages specify taxes on the minimum investment return Your Investment Division(s) must earn to avoid a decrease in return, will not adversely affect the dollar amount of Variable variable Annuity Payments. Annuity Unit Value. The Company sets the initial value of an Annuity Unit of each Investment Division when the Company establishes the Investment Division. The Annuity Unit Value reflects the investment performance of an Investment Division and may increase or decrease from one Business Day to the next. The Contract's Table of Income Options assumes the net investment rates described in the Contract's Basis of Computation provision. Therefore, if an Investment Division's actual net investment rate is greater than or less than the assumed net investment rate, Variable Annuity Payments will increase or decrease accordingly over time. The Company calculates each Investment Division's Annuity Unit Value for any Business Day in two (2) steps: First, the Company multiplies the immediately preceding Business Day's Annuity Unit Value by the Business Day's "net investment factor" determined on the day of the calculation. The Company determines the "net investment factor," which reflects changes in the Investment Division's net asset value, by dividing the value established at (1) below by the value established at (2) below, and then subtracting the value established at (3) below, where: ICC19 VA670 23.

Variable Annuity Payments. The Company will determine guaranteed purchase rates for variable Annuity Payments are based on the initial Variable Annuity Mortality Table and the Assumed Investment Rate, and are shown in Table B on the Contract Schedule. The Annuity Mortality Table and Assumed Investment Rate are also shown on the Contract Schedule. The first variable Annuity Payment by applying annuity rates consistent with the age and sex (unless unisex rates apply) of the Annuitant and, if applicable, the designated second person, is equal to the portion of the Contract Adjusted Base Account Value allocated to variable Annuity Payments, divided by $1,000, and then muliplied by the Variable applicable purchase rate for the Annuity Payment options, less any applicable taxes and other Contract chargesOption you select. Annuity rates applied will not be less than the rates provided in the Contract's Table of Income Options. The Company will determine the second and subsequent Variable Annuity Payments in two (2) stepsmay change, based on the performance of your selected Investment Options and the Assumed Investment Rate. First, We then purchase a fixed number of Annuity Units on the Company will Annuity Date for each subaccount of your selected Investment Options. We do this by dividing the amount of the first Annuity Payment among your selected Investment Options’ subaccounts according to your future Purchase Payment allocation instructions. We then divide the initial Variable Annuity Payment amount in each subaccount by the subaccount’s Annuity Unit value. On each Business Day after the Annuity Date, we determine each subaccount’s Annuity Unit value by multiplying the Annuity Unit Value calculated on value for the Income Date prior Business Day by the Net Investment Factor for the current Business Day, and then dividing by the assumed Net Investment Factor for the current Business Day. The assumed Net Investment Factor for the current Business Day is equal to establish a one plus the Assumed Investment Rate, adjusted to reflect the number of calendar days that have elapsed since the prior Business Day. Thereafter, the number of Annuity UnitsUnits in each subaccount remains unchanged unless you make a Transfer. SecondHowever, the Company number of Annuity Units will multiply that change if, under Annuity Option 3, one Annuitant dies and you requested Annuity Payments at 75% or 50% of the previous payment amount. All calculations will appropriately reflect the payment frequency you selected. On each subsequent variable Annuity Payment date, the total variable Annuity Payment is the sum of the variable Annuity Payments for each subaccount. We determine the Annuity Payment for each subaccount by multiplying the subaccount’s number of Annuity Units by the Annuity Unit Value determined value on the Business Day next preceding the date on which each payment is duedate. The result of each calculation determines the Variable You may select an Annuity Payment due. Once Variable Annuity Payments have begun, the number of Annuity Units remains constant absent a reallocation between the Investment Divisions. Variable Annuity Payments are not affected by expenses Option other than taxes. The Contract Data Pages specify the minimum investment return Your Investment Division(s) must earn to avoid a decrease in the dollar amount of Variable Annuity Payments. Annuity Unit Value. The Company sets the initial value of an Annuity Unit of each Investment Division when the Company establishes the Investment Division. The Annuity Unit Value reflects the investment performance of an Investment Division and may increase or decrease from one Business Day to the next. The Contract's Table of Income Options assumes the net investment rates described in the Contract's Basis of Computation provision. Therefore, if an Investment Division's actual net investment rate is greater than or less than the assumed net investment rate, Variable Annuity Payments will increase or decrease accordingly over time. The Company calculates each Investment Division's Annuity Unit Value for any Business Day in two (2) steps: First, the Company multiplies the immediately preceding Business Day's Annuity Unit Value by the Business Day's "net investment factor" determined on the day of the calculation. The Company determines the "net investment factor," which reflects changes in the Investment Division's net asset value, by dividing the value established at (1) below by the value established at (2) below, and then subtracting the value established at (3) below, where: ICC19 VA670 231 through 5 with our written agreement.