# EDGAR Filing Document

**Accession Number:** 0000770291
**File Stem:** 0001398344-25-023255
**Filing Date:** 2025-12
**Character Count:** 1540884
**Document Hash:** 6efda93dfa46c5245af497d018223baf
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001398344-25-023255.hdr.sgml**: 20251231

**ACCESSION NUMBER**: 0001398344-25-023255

**CONFORMED SUBMISSION TYPE**: N-6

**PUBLIC DOCUMENT COUNT**: 40

**FILED AS OF DATE**: 20251231

**DATE AS OF CHANGE**: 20251231

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** AuguStar Variable Account R
- **CENTRAL INDEX KEY:** 0000770291

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** OH
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** N-6
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-04320
- **FILM NUMBER:** 251617414

**BUSINESS ADDRESS:**
- **STREET 1:** ONE FINANCIAL WAY
- **STREET 2:** P.O. BOX 237
- **CITY:** CINCINNATI
- **STATE:** OH
- **ZIP:** 45242
- **BUSINESS PHONE:** 513-794-6278

**MAIL ADDRESS:**
- **STREET 1:** ONE FINANCIAL WAY
- **STREET 2:** P.O. BOX 237
- **CITY:** CINCINNATI
- **STATE:** OH
- **ZIP:** 45242

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** OHIO NATIONAL VARIABLE ACCOUNT R
- **DATE OF NAME CHANGE:** 19920703
**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** AuguStar Variable Account R
- **CENTRAL INDEX KEY:** 0000770291

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** OH
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** N-6
- **SEC ACT:** 1933 Act
- **SEC FILE NUMBER:** 333-292510
- **FILM NUMBER:** 251617413

**BUSINESS ADDRESS:**
- **STREET 1:** ONE FINANCIAL WAY
- **STREET 2:** P.O. BOX 237
- **CITY:** CINCINNATI
- **STATE:** OH
- **ZIP:** 45242
- **BUSINESS PHONE:** 513-794-6278

**MAIL ADDRESS:**
- **STREET 1:** ONE FINANCIAL WAY
- **STREET 2:** P.O. BOX 237
- **CITY:** CINCINNATI
- **STATE:** OH
- **ZIP:** 45242

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** OHIO NATIONAL VARIABLE ACCOUNT R
- **DATE OF NAME CHANGE:** 19920703

File No. 333-_____<br> 811-4320

**Securities and Exchange Commission<br> Washington, D.C. 20549**

**Form N-6** 

---

| | |
|:---|:---|
| **REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933** | [X] |
| Pre-Effective Amendment No. | [ ] |
| Post-Effective Amendment No. | [ ] |
| and/or |  |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **REGISTRATION STATEMENT UNDER THE INVESTMENT COMPANY ACT OF 1940** | [X] |
| Amendment No. 1 | [X] |

---

**AuguStar Variable Account R**

*(Exact Name of Registrant)*

**AuguStar Life Insurance Company**

*(Name of Depositor)*

**One Financial Way, Montgomery, Ohio 45242**

*(Address of Depositor's Principal Executive Offices)*

(Depositor's Telephone Number, including Area Code) (513) 794-6100

**Manda Ghaferi, General Counsel<br> AuguStar Life Insurance Company<br> P.O. Box 237, Cincinnati, Ohio 45201**

*(Name and Address of Agent for Service)*

Approximate Date of Proposed Public Offering: As soon as practicable after the effective date of this Registration Statement.

*Title of Securities Being Registered:* Units of interest in flexible premium variable life insurance policies.

Registrant hereby amends this registration statement on such date or dates as may be necessary to delay its effective date until Registrant shall file a further amendment which specifically states that this registration statement shall become effective in accordance with Section 8(a) of the Securities Act of 1933 or until this registration statement shall become effective on such date as the Commission, acting pursuant to said Section 8(a), may determine.

**Explanatory Note:** Units of interest supporting the flexible premium variable life insurance policies issued through the Registrant, as described herein, were previously registered on Form N-6 (File Nos. 333-40636; 811-4320). Upon the merger of AuguStar Life Assurance Corporation with and into AuguStar Life Insurance Company, AuguStar Life Insurance Company became the obligor of the policies and the Depositor of the Registrant, necessitating the filing of a new registration statement for the policies under the Securities Act of 1933 and an amendment to the registration statement under the Investment Company Act of 1940.

**Supplement dated January 2, 2026**

**to the Prospectus Dated May 1, 2019 as supplemented for**

**Vari-Vest® Survivor**

**Individual, Flexible Premium Variable Life Insurance Policy**

**Issued by**

**AuguStar Variable Account R**

**By AuguStar Life Insurance Company ("ALIC")**

**Formerly by AuguStar Life Assurance Corporation ("ALAC")**

This supplement updates certain information contained in the above-referenced prospectus for your policy formerly issued by ALAC. [The prospectus, which was filed in an amended registration statement with the Securities and Exchange Commission ("SEC") on April 25, 2019 (File Nos. 333-40636; 811-4320), is incorporated herein by reference.](https://www.sec.gov/Archives/edgar/data/770291/000119312519119901/d721439d485bpos.htm) Please read this supplement and keep it together with your prospectus for future reference. Capitalized terms have the same meaning as those included in the prospectus.

**<u>(A) The Merger of ALAC and ALIC:</u>**

ALAC, the direct, wholly owned subsidiary of ALIC, merged into ALIC on December 31, 2025 (the "Merger"). The Merger of ALAC and ALIC was approved by the boards of directors and shareholders of ALAC and ALIC. The Merger also received regulatory approval from the Ohio Department of Insurance the state of domicile of ALAC and ALIC.

On the date of the Merger, ALIC acquired from its wholly owned subsidiary, ALAC, all of ALAC's assets, including AuguStar Variable Account R and its assets under which the policy was issued, and ALAC ceased to exist. As a result of the Merger, ALIC also became responsible for all of ALAC's liabilities and obligations, including those created under the policy. The policy was originally issued by ALAC (formerly known as Ohio National Life Assurance Corporation). The Merger did not affect your policy's values or result in any adverse tax consequences for any policy owners. Policy owners will not be charged additional fees or expenses as a result of the Merger. Policies are no longer sold, however, premiums on existing policies continue to be permitted.

The Merger did not affect the terms of, or the rights and obligations under, the policy, other than to reflect the change to the company that provides your policy benefits from ALAC to ALIC. You will receive policy endorsements from ALIC that reflect the change from ALAC to ALIC.

All policy information for policy services will remain the same: by calling 800.366.6654 or by sending an email request to lifecs@constellationinsurance.com.

Additional information about certain investment products, including variable life insurance, has been prepared by the SEC's staff and is available at Investor.gov.

**<u>(B) Reminder of Certain Changes to the Policy Prior to the Merger</u>:**

The information below is intended to remind you of certain changes to the policy that have occurred since the prospectus dated May 1, 2019.

Prior to October 2, 2023, the issuer of the policy was Ohio National Life Assurance Corporation ("ONLAC"). On October 2, 2023, ONLAC was renamed "AuguStar Life Assurance Corporation" and the name of the Separate Account was changed from "Ohio National Variable Account R" to "AuguStar Variable Account R." Also, on September 6, 2023, the name of the principal underwriter of the policy was changed from "Ohio National Equities, Inc." to "AuguStar Distributors, Inc."

**<u>(C) Prospectus Updates:</u>**

As a result of the Merger, the prospectus is modified as follows:

1) All references to ALAC (or its former name Ohio National Life Assurance Corporation) in the prospectus are replaced with ALIC, and all references in the prospectus to "Ohio National Variable Account R" are replaced with "AuguStar Variable Account R."

In the section "GENERAL DESCRIPTION OF OHIO NATIONAL LIFE," the section name is changed to "GENERAL DESCRIPTION OF AUGUSTAR LIFE INSURANCE COMPANY," the disclosure under subsection "Ohio National Life Assurance Corporation" is deleted and the first paragraph under the subsection "The Ohio National Life Insurance Company" is replaced with the following:

**AuguStar Life Insurance Company (the Depositor)**

ALIC was organized under the laws of Ohio on September 9, 1909, as The Ohio National Life Insurance Company, and in 2023 changed its name to AuguStar Life Insurance Company. We write life, accident and health insurance and annuities in 49 states, the District of Columbia and Puerto Rico. Our home office is located at One Financial Way, Montgomery, Ohio 45242. ALIC is obligated to pay all amounts promised to investors under the policies.

We are a stock life insurance company owned by Constellation Insurance, Inc., which is wholly-owned by Constellation Insurance Holdings, Inc. Currently, Constellation Insurance, Inc., has assets of approximately $42.2 billion and equity of approximately $1.9 billion.

The subheading "Ohio National Variable Account R ("VAR")" is replaced with "AuguStar Variable Account R ("VAR") (the Registrant)".

2) As a reminder, the "SUMMARY OF BENEFITS AND RISKS" section of the prospectus contains a concise description of the policy, including information about the purpose of the policy and for whom the policy may be appropriate, payment of premiums, and the policy's primary features (including supplemental benefits included with the policy for no additional charge). This section also includes information about the policy's principal risks.

Under "SUMMARY OF BENEFITS AND RISKS" the subsection "Supplemental Benefits" will be added as follows:

**Supplemental Benefits**

There are several supplemental benefits or riders that will or may be added to your Policy. These riders or benefits may not be available in all states. All of the supplemental benefits or riders may impose additional charges which are disclosed in the prospectus.

Additional Term Life Insurance Rider (Term Rider) — allows you to buy term insurance coverage as a part of your policy.

Waiver of Stipulated Premium — provides for a continuation of premium payments (at a predetermined level) if the insured becomes totally disabled for six months or more.

Accidental Death Benefit — provides for an additional death benefit if the insured's death results from accidental injury and occurs within 180 days from the accident.

Guaranteed Purchase Option — provides the right to purchase additional permanent life insurance coverage, on certain predetermined future dates, without having to prove that you are still insurable.

Accelerated Death Benefit Rider (Lifetime Advantage Rider) — an accelerated death benefit option which allows the policyowner to receive up to 50% of a policy's death benefit, up to $250,000 if the insured is diagnosed as terminally ill with twelve months or less to live. The maximum charge for this rider is $100.00 and it may be added to the Policy at any time.

Family Term Life Insurance Rider — provides term insurance coverage on your child(ren) as part of your Policy.

Term Life Insurance for Additional Insured Rider (Spouse Term Rider/Additional Insured Rider) — provides term insurance coverage on the insured's spouse or someone other than the insured's spouse or children as part of the Policy.

Family Split Option Rider - enables you to divide the policy into two (2) individual policies in the event of divorce, dissolution or annulment, or a certain change in tax law. The available split ratio must be set at the time your policy is issued. This rider is only available at the time the policy is issued.

Continuation of Coverage Rider - enables you to continue the full death benefit amount of your policy past the maturity date of age 100, as long as there is a positive cash surrender value in the policy at the time. This rider is only available at the time the policy is issued.

In addition, under the subsection "Policy Benefits," the following is added under the subsection "Variable Investment Choices":

**Additional information about each portfolio is provided in an appendix to this prospectus. See "APPENDIX A – PORTFOLIOS AVAILABLE UNDER THE POLICY."**

3) The subheading "Policy Risks" has been renamed "Principal Risks of Investing in the Policy".

4) The "FEE TABLES" section has been renamed to "Fees and Expenses" and in this section, the table showing the minimum and maximum total annual portfolio operating expenses is replaced with the information below. Please note that the fees and expenses of the policy have not changed as a result of the Merger, and the following information is being provided solely to update the minimum and maximum total annual operating expenses of the portfolios.

**The table below shows the minimum and maximum total operating expenses charged by the portfolios as of December 31, 2024, that you may pay periodically during the time that you own the policy. A complete list of portfolios available under the policy, including their annual expenses, may be found in "APPENDIX A – PORTFOLIOS AVAILABLE UNDER THE POLICY." Please note that portfolio expenses may be higher or lower in the future.**

**Annual Portfolio Operating Expenses**

---

| | | |
|:---|:---|:---|
| | Minimum | Maximum |
| (expenses that are deducted from portfolio assets, including management fees, distribution and/or service (12b-1) fees, and other expenses) | 0.35% | 2.44% |

---

5) Under the section "THE PORTFOLIOS", the second paragraph is replaced with the following:

The value of each portfolio's investments fluctuates daily and is subject to the risk that portfolio management may not anticipate or make changes necessary in the investments to meet changes in economic conditions. Information regarding each portfolio, including (i) its name, (ii) its type (e.g., money market fund, bond fund, balanced fund, etc.), (iii) its investment adviser and any sub-investment adviser, (iv) current expenses, and (v) performance is available in Appendix A to this supplement. Each portfolio has issued a prospectus that contains more detailed information about it. Read the portfolio prospectuses carefully before investing. They may contain information about other funds that are not available as investment options for these policies. You cannot be sure that any portfolio will achieve its stated objectives and policies. **For a free copy of the portfolio prospectuses, call 800.366.6654.**

The fifth paragraph and the ensuing list of portfolios and advisors are deleted. Please see "APPENDIX A – PORTFOLIOS AVAILABLE UNDER THE POLICY" in this Supplement for a current list of the portfolios available under the policy.

6) The first two paragraphs under the section "PREMIUMS" are replaced with the following:

The Vari-Vest Survivor policies are no longer offered for new sales, but existing Policyholders may continue to make additional premiums (except as otherwise described in the prospectus).

7) The following is added at the end of the section "CHARGES" under the new subheading "Commissions Paid to Dealers":

**Commissions Paid to Dealers**

We do not currently pay commissions to dealers with respect to the policies.

8) The following is added to the section "CHARGES":

**Portfolio Expenses**

There are charges deducted from, and expenses paid out of, the assets of the portfolios. These charges and expenses are described in the portfolio prospectuses. The value of the assets in AuguStar Variable Account R will indirectly reflect the portfolio's total fees and expenses. A portfolio's total fees and expenses are not part of the policy and may vary from year to year. See **Appendix A – Investment Options Available Under the Policy** for a list of the portfolios, including their annual expenses.

9) The section "TAXES" is replaced with the following:

<u>TAXES</u>

The following description is a brief summary of some of the Code provisions which, in our opinion, may currently affect the Policy. This summary does not purport to be complete or to cover all situations, including the possible tax consequences of changes in ownership. Counsel and other competent tax advisers should be consulted for more complete information. Tax laws can change, even with respect to policies that have already been issued. Tax law revisions, with unfavorable consequences to policies offered by this prospectus, could have retroactive effect on previously issued policies or on subsequent voluntary transactions in previously issued policies.

Policy Proceeds

The Policy contains provisions not found in traditional life insurance policies providing only for fixed benefits. However, under the Code the Policy should qualify as a life insurance policy for federal income tax purposes as long as certain conditions are met. Consequently, the Proceeds of the Policy payable to the Beneficiary on the death of the Insured will generally be excluded from the Beneficiary's income for purposes of federal income tax. As long as the Policy remains in effect, any increases in the value of the Policy will not be taxable.

Current tax rules and penalties on distributions from life insurance policies apply to any life insurance policy issued or materially changed on or after June 21, 1988 that is funded more heavily (faster) than a traditional whole life plan designed to be paid-up after the payment of level annual premiums over a seven-year period. Thus, for such a policy (called a "Modified Endowment Contract" in the Code), any distribution, including surrenders, partial surrenders, maturity Proceeds, and loans secured by the policy, during the Insured's lifetime (but not payments received as an annuity or as a Death Benefit) would be included in the Policyholder's gross income to the extent that the policy's Cash Surrender Value exceeds the owner's investment in the policy. In addition, a ten percent penalty tax applies to any such distribution from such a policy, to the extent includible in gross income, except if made:

● after the taxpayer's attaining age 59½,

● as a result of his or her disability, or

● in one of several prescribed forms of annuity payments.

Loans received under the Policy (unless the Policy is a Modified Endowment Contract ("MEC")) will be construed as indebtedness of the Policyholder in the same manner as loans under a fixed benefit life insurance policy and no part of any loan under the Policy is expected to constitute income to the Policyholder. Interest payable with respect to such loans is not tax deductible. If the Policy is surrendered or lapsed, any Policy loan then in effect is treated as taxable income to the extent that the Policy's Accumulation Value (including the loan amount) then exceeds your "basis" in the Policy. (Your "basis" equals the total amount of premiums that were paid into the Policy less any withdrawals from the Policy plus any amounts reported to you as taxable income due to loans secured by the Policy.) Federal estate and local estate, inheritance and other tax consequences of Policy ownership or Receipt of Policy Proceeds depend upon the circumstances of each Policyholder and Beneficiary.

Avoiding DEFRA Violations

The Deficit Reduction Act of 1984 ("DEFRA") outlines how much premium can be paid into a life insurance policy relative to the death benefit in the policy. In order to ensure that premium payments made to your policy do not exceed DEFRA guidelines, which would cause your policy to no longer be considered as life insurance for tax purposes, we will only apply the portion of your premium payment that does not exceed the DEFRA guidelines. The remaining portion of your premium payment that we are not able to apply given DEFRA guidelines will be returned to you within five (5) business days. Please contact your tax advisor with any further questions regarding DEFRA.

Avoiding Modified Endowment Contracts

If you have previously authorized us to do so, we will hold your premium payment for up to ten (10) business days, if applying the premium payment before the due date would cause the Policy to be treated as a MEC for federal income tax purposes.

If (i) you have not given us prior authorization to hold your premium payment for up to ten (10) business days, and we determine your premium payment will cause your Policy to become a MEC if we apply your premium payment immediately or (ii) we determine that your premium will cause the Policy to become a MEC even if we wait ten (10) business days to apply the premium, we will attempt to contact you within two (2) business days to determine your intent regarding the premium payment. If you do not want the Policy to be treated as a MEC for tax purposes, we will (i) delay applying the premium for ten (10) business days, where applicable, or (ii) refund the premium payment to the payor of the premium payment within five (5) business days of confirming your intention. If we are unable to confirm your intentions within two (2) business days of Receipt of the premium payment, we will apply the premium payment as of the third Valuation Date, and your Policy will be treated as a MEC for federal income tax purposes.

Correction of Modified Endowment Contracts

If you have made premium payments in excess of the amount that would be permitted without your Policy being treated as a MEC under the Code, you may, upon timely written request, prevent that tax treatment by receiving a refund, without deduction of any charges, of the excess premium paid. Under the Code, such a corrective action must be completed by no later than 60 days after the end of the year following the date the Policy became a MEC.

Right to Charge for Company Taxes

We are presently taxed as a life insurance company under the provisions of the Code. The Tax Reform Act of 1984 specifically provides for adjustments in reserves for flexible premium policies, and we will reflect flexible premium life insurance operations in our tax return in accordance with such Act.

Currently, no charge is assessed against VAR for our federal taxes, or provision made for such taxes, that may be attributable to VAR. However, we may in the future charge each Subaccount of VAR for its portion of any tax charged to us in respect of that Subaccount or its assets. Under present law, we may incur state and local taxes (in addition to premium taxes) in several states. We may decide to assess charges for such taxes, or make provision for such taxes, against VAR. Any such charges against VAR or its Subaccounts could have an adverse effect on the investment performance of the Subaccounts.

10) The following replaces the section of the prospectus entitled "LEGAL PROCEEDINGS":

**Legal Proceedings**

As of the date of this prospectus, although the outcome of any litigation or arbitration cannot be predicted, ALIC believes that there are no pending or threatened lawsuits that are reasonably likely to have a material adverse effect on AuguStar Variable Account R or the ability of the principal underwriter to perform its contract with the Registrant or of the Depositor to meet its obligations under the policies.

11) The following replaces the section of the prospectus entitled "FINANCIAL STATEMENTS":

**Financial Statements**

The financial statements of AuguStar Variable Account R and the financial statements and schedules of ALIC and ALAC are included in the Statement of Additional Information ("SAI"). A copy of the SAI may be obtained by contacting your registered representative, by contacting us at 800.366.6654 or by sending an email request to lifecs@constellationinsurance.com.

12) The following is added immediately following the "GLOSSARY":

 

**APPENDIX A**

**PORTFOLIOS AVAILABLE UNDER THE POLICY**

The following is a list of portfolios available under the policy. More information about the portfolios is available in the prospectuses for the portfolios, which may be amended from time to time and can be found online at https://augustarfinancial.com/variableproducts. You can also request this information at no cost by calling 800.366.6654 or by sending an email request to lifecs@constellationinsurance.com.

The current expenses and performance information below reflects fees and expenses of the portfolios, but does not reflect the other fees and expenses that your policy may charge. Expenses would be higher and performance would be lower if these other charges were included. Each portfolio's past performance is not necessarily an indication of future performance.

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Type** | **Portfolio and Adviser/Subadviser** | **Current<br> Expenses** | **Average Annual Total Returns<br> (as of 12/31/2024)** | **Average Annual Total Returns<br> (as of 12/31/2024)** | **Average Annual Total Returns<br> (as of 12/31/2024)** |
| **Type** | **Portfolio and Adviser/Subadviser** | **Current<br> Expenses** | **1 year** | **5 year** | **10 year** |
| Large Growth | Allspring VT Opportunity Fund (Class 2)<br> *Adviser:* Allspring Funds Management, LLC<br> *Subadviser:* Allspring Global Investments, LLC | 1.00%\* | 15.05% | 11.71% | 10.77% |
| Mid Cap Growth Equity | AVIP AB Mid Cap Core Portfolio<sup>(2)</sup><br> *Adviser:* Constellation Investments, Inc.<br> *Subadviser:* AllianceBernstein L.P. | 0.92% | 14.21% | 7.36% | 8.74% |
| Small Cap Growth Equity | AVIP AB Small Cap Portfolio<sup>(2)</sup><br> *Adviser:* Constellation Investments, Inc.<br> *Subadviser:* AllianceBernstein L.P. | 0.88% | 13.82% | 6.63% | 8.13% |
| Foreign Large Cap Blend Equity | AVIP BlackRock Advantage International Equity Portfolio<br> *Adviser:* Constellation Investments, Inc.<br> *Subadviser:* BlackRock Investment Management, LLC | 0.86% | 6.29% | 5.79% | 5.24% |
| Large Cap Blend Equity | AVIP BlackRock Advantage Large Cap Core Portfolio<br> *Adviser:* Constellation Investments, Inc.<br> *Subadviser:* BlackRock Investment Management, LLC | 0.70% | 26.27% | 14.05% | 11.96% |
| Large Cap Growth Equity | AVIP BlackRock Advantage Large Cap Growth Portfolio<br> *Adviser:* Constellation Investments, Inc.<br> *Subadviser:* BlackRock Investment Management, LLC | 0.71% | 31.07% | 16.12% | 13.92% |
| Large Cap Value Equity | AVIP BlackRock Advantage Large Cap Value Portfolio<br> *Adviser:* Constellation Investments, Inc.<br> *Subadviser:* BlackRock Investment Management, LLC | 0.74% | 15.76% | 9.20% | 8.42% |
| Small Cap Growth Equity | AVIP BlackRock Advantage Small Cap Growth Portfolio<br> *Adviser:* Constellation Investments, Inc.<br> *Subadviser:* BlackRock Investment Management, LLC | 0.87% | 10.29% | 6.50% | 7.80% |
| Allocation | AVIP BlackRock Balanced Allocation Portfolio<br> *Adviser:* Constellation Investments, Inc.<br> *Subadviser:* BlackRock Investment Management, LLC | 0.57% | 19.50% | 10.21% | 9.37% |
| Corporate Bond | AVIP Bond Portfolio<br> *Adviser:* Constellation Investments, Inc. | 0.61% | 2.38% | 0.30% | 2.39% |
| High Yield Bond | AVIP High Income Bond Portfolio<sup>(3)</sup><br> *Adviser:* Constellation Investments, Inc. | 0.86% | 6.45% | 3.45% | 4.60% |
| Large Cap Growth Equity | AVIP Fidelity Institutional AM® Equity Growth Portfolio<sup>(2)</sup><br> *Adviser:* Constellation Investments, Inc.<br> *Subadviser:* FIAM LLC | 0.79% | 30.68% | 14.71% | 15.16% |
| Large Cap Growth Equity | AVIP Nasdaq-100® Index Portfolio<br> *Adviser:* Constellation Investments, Inc.<br> *Subadviser:* Geode Capital Management LLC | 0.43% | 25.37% | 19.71% | 18.02% |
| Large Cap Blend Equity | AVIP S&P 500® Index Portfolio<sup>(2)</sup><br> *Adviser:* Constellation Investments, Inc.<br> *Subadviser:* Geode Capital Management LLC | 0.38% | 24.57% | 14.09% | 12.65% |
| Mid Cap Blend Equity | AVIP S&P MidCap 400® Index Portfolio<br> *Adviser:* Constellation Investments, Inc.<br> *Subadviser:* Geode Capital Management LLC | 0.40% | 13.43% | 9.81% | 8.06% |
| Large Cap Blend Equity | BNY Mellon Appreciation Portfolio (Service Class)<br> *Adviser:* BNY Mellon Investment Adviser, Inc. | 1.10% | 12.48% | 11.65% | 11.28% |
| Equity | ClearBridge Variable Dividend Strategy Portfolio (Class I)<br> *Adviser:* Legg Mason Partners Fund Advisor, LLC<br> *Subadviser:* ClearBridge Investments, LLC | 0.75% | 16.85% | 10.85% | 10.64% |
| Equity | ClearBridge Variable Large Cap Value Portfolio (Class I)<br> *Adviser:* Legg Mason Partners Fund Advisor, LLC<br> *Subadviser:* ClearBridge Investments, LLC | 0.72% | 8.08% | 9.10% | 8.63% |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Type** | **Portfolio and Adviser/Subadviser** | **Current<br> Expenses** | **Average Annual Total Returns<br> (as of 12/31/2024)** | **Average Annual Total Returns<br> (as of 12/31/2024)** | **Average Annual Total Returns<br> (as of 12/31/2024)** |
| **Type** | **Portfolio and Adviser/Subadviser** | **Current<br> Expenses** | **1 year** | **5 year** | **10 year** |
| Mid Cap Growth Equity | Federated Hermes Kaufmann Fund II (Service Class)<br> *Adviser:* Federated Global Investment Management Corp.<sup>(1)</sup> | 1.81% | 16.78% | 4.21% | 9.09% |
| Equity | Fidelity® VIP Contrafund Portfolio<sup>SM</sup> (Service Class 2)<br> *Adviser:* Fidelity Management & Research Company | 0.81% | 33.45% | 16.74% | 13.33% |
| Large Cap Value Equity | Fidelity® VIP Equity-Income Portfolio<sup>SM</sup> (Service Class 2)<br> *Adviser:* Fidelity Management & Research Company | 0.72% | 15.06% | 9.80% | 8.94% |
| Money Market | Fidelity® VIP Government Money Market Portfolio (Service Class)<br> *Adviser:* Fidelity Management & Research Company<br> *Subadviser:* Fidelity Investments Money Management, Inc. | 0.35% | 4.98% | 2.26% | 1.55% |
| Mid Cap Blend Equity | Fidelity® VIP Mid Cap Portfolio (Service Class 2)<br> *Adviser:* Fidelity Management & Research Company | 0.82% | 17.18% | 11.05% | 8.94% |
| Real Estate Equity | Fidelity® VIP Real Estate Portfolio (Service Class 2)<br> *Adviser:* Fidelity Management & Research Company | 0.86% | 6.25% | 1.94% | 3.67% |
| Allocation | Franklin Allocation VIP Fund (Class 4)<br> *Adviser:* Franklin Advisers, Inc.<br> *Subadviser:* Templeton Global Advisors Limited, Franklin Templeton Institutional, LLC, ClearBridge Investments, LLC, Brandywine Global Investment Management, LLC, Western Asset Management Company, LLC, Western Asset Management Company Limited | 0.92%\* | 8.89% | 5.45% | 5.25% |
| Allocation | Franklin DynaTech VIP Fund (Class 2)<br> *Adviser:* Franklin Advisers, Inc. | 0.87% | 30.44% | 13.63% | 12.67% |
| Allocation | Franklin Income VIP Fund (Class 2)<br> *Adviser:* Franklin Advisers, Inc. | 0.72%\* | 7.20% | 5.29% | 5.26% |
| Allocation | Franklin Templeton Foreign VIP Fund (Class 2)<br> *Adviser:* Templeton Investment Counsel, LLC | 1.06%\* | -1.00% | 2.60% | 2.38% |
| Equity | Goldman Sachs Large Cap Value Fund (Institutional Class)<br> *Adviser:* Goldman Sachs Asset Management, L.P. | 0.70%\* | 17.10% | 9.84% | 8.01% |
| Large Cap Blend Equity | Goldman Sachs Strategic Growth Fund (Institutional Class)<br> *Adviser:* Goldman Sachs Asset Management, L.P. | 0.71%\* | 32.37% | 16.77% | 14.91% |
| Foreign Large Cap Growth Equity | Invesco V.I. EQV International Equity Fund (Series II)<br> *Adviser:* Invesco Advisers, Inc. | 1.15% | 0.34% | 2.97% | 4.10% |
| Allocation | Janus Henderson Balanced Portfolio (Service Class)<br> *Adviser:* Janus Henderson Investors US LLC | 0.87% | 15.15% | 8.06% | 8.39% |
| Equity | Janus Henderson Global Research Portfolio (Service Class)<br> *Adviser:* Janus Henderson Investors US LLC | 0.97% | 23.27% | 12.07% | 10.27% |
| Equity | Janus Henderson Overseas Portfolio (Service Class)<br> *Adviser:* Janus Henderson Investors US LLC | 1.13% | 5.58% | 6.94% | 5.29% |
| Equity | Janus Henderson Research Portfolio (Service Class)<br> *Adviser:* Janus Henderson Investors US LLC | 0.92% | 34.96% | 16.48% | 14.24% |
| Equity | Lazard Retirement Emerging Markets Equity Portfolio (Service Class)<br> *Adviser:* Lazard Asset Management LLC | 1.40%\* | 7.43% | 3.03% | 3.26% |
| Equity | Lazard Retirement International Equity Portfolio (Service Class)<br> *Adviser:* Lazard Asset Management LLC | 1.09%\* | 5.63% | 3.57% | 3.99% |
| Equity | LVIP JPMorgan Mid Cap Value Fund (Standard Class)<br> *Adviser:* Lincoln Financial Investments Corporation<br> *Subadviser:* J.P. Morgan Investment Management Inc. | 0.73% | 14.29% | 8.70% | 7.98% |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Type** | **Portfolio and Adviser/Subadviser** | **Current<br> Expenses** | **Average Annual Total Returns<br> (as of 12/31/2024)** | **Average Annual Total Returns<br> (as of 12/31/2024)** | **Average Annual Total Returns<br> (as of 12/31/2024)** |
| **Type** | **Portfolio and Adviser/Subadviser** | **Current<br> Expenses** | **1 year** | **5 year** | **10 year** |
| Equity | LVIP JPMorgan Small Cap Core Fund (Standard Class)<br> *Adviser:* Lincoln Financial Investments Corporation<br> *Subadviser:* J.P. Morgan Investment Management Inc. | 0.75% | 11.71% | 7.05% | 7.30% |
| Large Cap Growth Equity | MFS® Massachusetts Investors Growth Stock Portfolio (Service Class)<br> *Adviser:* Massachusetts Financial Services Company | 0.97%\* | 15.98% | 12.15% | 12.90% |
| Mid Cap Growth Equity | MFS® Mid Cap Growth Series (Service Class)<br> *Adviser:* Massachusetts Financial Services Company | 1.05%\* | 14.44% | 8.85% | 11.43% |
| Small Cap Growth Equity | MFS® New Discovery Series (Service Class)<br> *Adviser:* Massachusetts Financial Services Company | 1.12%\* | 6.44% | 4.71% | 8.92% |
| Allocation | MFS® Total Return Series (Service Class)<br> *Adviser:* Massachusetts Financial Services Company | 0.86%\* | 7.46% | 5.89% | 6.20% |
| Large Cap Growth Equity | Morgan Stanley VIF Growth Portfolio (Class II)<br> *Adviser:* Morgan Stanley Investment Management, Inc. | 0.82%\* | 46.20% | 13.33% | 15.25% |
| Allocation | Morningstar Aggressive Growth ETF Asset Allocation Portfolio (Class II)<br> *Adviser:* ALPS Advisors, Inc.<br> *Subadviser:* Morningstar Investment Management LLC | 0.89% | 14.58% | 8.63% | 8.05% |
| Allocation | Morningstar Balanced ETF Asset Allocation Portfolio (Class II)<br> *Adviser:* ALPS Advisors, Inc.<br> *Subadviser:* Morningstar Investment Management LLC | 0.86% | 10.17% | 5.53% | 5.54% |
| Allocation | Morningstar Conservative ETF Asset Allocation Portfolio (Class II)<br> *Adviser:* ALPS Advisors, Inc.<br> *Subadviser:* Morningstar Investment Management LLC | 0.84%\* | 5.29% | 1.75% | 2.50% |
| Allocation | Morningstar Growth ETF Asset Allocation Portfolio (Class II)<br> *Adviser:* ALPS Advisors, Inc.<br> *Subadviser:* Morningstar Investment Management LLC | 0.87% | 12.67% | 7.32% | 7.00% |
| Allocation | Morningstar Income & Growth ETF Asset Allocation Portfolio (Class II)<br> *Adviser:* ALPS Advisors, Inc.<br> *Subadviser:* Morningstar Investment Management LLC | 0.85%\* | 7.97% | 3.81% | 4.13% |
| Allocation | Nomura VIP Asset Strategy Series (Service Class) <sup>(3)</sup><br> *Adviser:* Delaware Management Company<br> *Subadviser:* Macquarie Investment Management Austria Kapitalanlage AG | 0.85%\* | 12.44% | 6.55% | 5.27% |
| Natural Resources Equity | Nomura VIP Natural Resources Series (Service Class) <sup>(3)</sup><br> *Adviser:* Delaware Management Company<br> *Subadviser:* Van Eck Associates Corporation, Macquarie Investment Management Global Limited | 1.25%\* | -0.58% | 5.80% | 0.98% |
| Technology Equity | Nomura VIP Science and Technology Series (Service Class) <sup>(3)</sup><br> *Adviser:* Delaware Management Company<br> *Subadviser:* Macquarie Investment Management Global Limited | 1.16% | 30.59% | 14.04% | 13.54% |
| Commodities | PIMCO CommodityRealReturn® Strategy Portfolio (Administrative Class)<br> *Adviser:* Pacific Investment Management Company LLC | 2.28%\* | 4.16% | 7.09% | 1.65% |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Type** | **Portfolio and Adviser/Subadviser** | **Current<br> Expenses** | **Average Annual Total Returns<br> (as of 12/31/2024)** | **Average Annual Total Returns<br> (as of 12/31/2024)** | **Average Annual Total Returns<br> (as of 12/31/2024)** |
| **Type** | **Portfolio and Adviser/Subadviser** | **Current<br> Expenses** | **1 year** | **5 year** | **10 year** |
| Global Bond | PIMCO Global Bond Opportunities Portfolio (Unhedged) (Administrative Class)<br> *Adviser:* Pacific Investment Management Company LLC | 1.08% | -0.50% | -0.33% | 0.82% |
| Inflation Protected Bond | PIMCO Real Return Portfolio (Administrative Class)<br> *Adviser:* Pacific Investment Management Company LLC | 1.07% | 2.13% | 1.93% | 2.16% |
| Fixed Income | PIMCO Total Return Portfolio (Administrative Class)<br> *Adviser:* Pacific Investment Management Company LLC | 0.79% | 2.53% | -0.03% | 1.54% |
| Equity | PSF PGIM Jennison Blend Portfolio (Class II)<br> *Adviser:* PGIM Investments LLC<br> *Subadviser:* Jennison Associates LLC | 0.85%\* | 25.80% | 13.79% | 11.85% |
| Equity | PSF PGIM Jennison Growth Portfolio (Class II)<br> *Adviser:* PGIM Investments LLC<br> *Subadviser:* Jennison Associates LLC | 1.00%\* | 30.35% | 17.36% | 15.86% |

---

\* Annual expenses reflect temporary fee reductions.

<sup>(1)</sup> Effective August 1, 2024, the adviser for Federated Hermes Kaufmann Fund II portfolio changed from Federated Equity Management Company of Pennsylvania to Federated Global Investment Management Corp. Federated Global Investment Management Corp. was removed as subadviser.

<sup>(2)</sup> Effective on October 10, 2025, Lazard Retirement US Small Cap Equity Select Portfolio, Royce Small-Cap Portfolio, and Royce Micro-Cap Portfolio replaced by AVIP AB Small Cap Portfolio. Neuberger Berman AMT Mid Cap Intrinsic Value Portfolio was replaced by AVIP AB Mid Cap Core Portfolio. Goldman Sachs U.S. Equity Insights Fund was replaced by AVIP S&P 500<sup>®</sup> Index Portfolio. Fidelity® VIP Growth Portfolio was replaced by AVIP Fidelity Institutional AM® Equity Growth Portfolio.

<sup>(3)</sup> Effective on December 5, 2025, AVIP Federated High Income Bond Portfolio was renamed to AVIP High Income Bond Portfolio and its subadvisor Federated Investment Management Company was removed. Macquarie VIP Asset Strategy Series was renamed to Nomura VIP Asset Strategy Series and its subadvisor Securian Asset Management, Inc. was replaced with Macquarie Investment Management Austria Kapitalanlage AG. Macquarie VIP Natural Resources Series was renamed to Nomura VIP Natural Resources Series and its subadvisor Securian Asset Management, Inc. was replaced with Van Eck Associates Corporation, Macquarie Investment Management Global Limited. Macquarie VIP Science and Technology Series was renamed to Nomura VIP Science and Technology Series and its subadvisor Securian Asset Management, Inc. was replaced with Macquarie Investment Management Global Limited.

13) The information on the back cover page of the prospectus is replaced with the following:

The SAI dated May 1, 2019 as supplemented includes additional information about AuguStar Variable Account R. We have incorporated the SAI by reference into this prospectus. It is available upon request and without charge by calling us at 800.366.6654 and is available at augustarfinancial.com/variableproducts. You may request other information about this policy and make investor inquiries by calling us at 800.366.6654.

Reports and other information about AuguStar Variable Account R are available on the SEC's website at http://www.sec.gov. Copies of this information may be obtained, upon payment of a duplicating fee, by electronic request at publicinfo@sec.gov.

Contract Id. No.: C000021593

**Supplement dated January 2, 2026**

**To The Statement of Additional Information Dated May 1, 2019 as supplemented for**

**Vari-Vest® Survivor**

**Individual, Flexible Premium Variable Life Insurance Policy**

**Issued by**

**AuguStar Variable Account R**

**By AuguStar Life Insurance Company ("ALIC")**

**Formerly by AuguStar Life Assurance Corporation ("ALAC")**

One Financial Way

Montgomery, Ohio 45242

Telephone 800.366.6654

This supplement updates certain information contained in the above-referenced Statement of Additional Information ("SAI") for your policy formerly issued by ALAC[. The SAI, which was filed in an amended registration statement with the Securities and Exchange Commission ("SEC") on April 25, 2019 (File Nos. 333-40636; 811-4320), is incorporated herein by reference.](https://www.sec.gov/Archives/edgar/data/770291/000119312519119901/d721439d485bpos.htm#a2) Please read this supplement and keep it for future reference. Capitalized terms have the same meaning as those included in the SAI.

**<u>(A) The Merger of ALAC and ALIC:</u>**

ALAC, the direct, wholly owned subsidiary of ALIC, merged into ALIC on December 31, 2025 (the "Merger"). The Merger of ALAC and ALIC was approved by the boards of directors and shareholders of ALAC and ALIC. The Merger also received regulatory approval from the Ohio Department of Insurance, the state of domicile of ALAC and ALIC.

On the date of the Merger, ALIC acquired from its wholly owned subsidiary, ALAC, all of ALAC's assets, including AuguStar Variable Account R and its assets under which the policy was issued, and ALAC ceased to exist. As a result of the Merger, ALIC also became responsible for all of ALAC's liabilities and obligations, including those created under the policy. The policy was originally issued by ALAC (formerly known as Ohio National Life Assurance Corporation). The Merger did not affect your policy's values or result in any adverse tax consequences for any policy owners. Policy owners will not be charged additional fees or expenses as a result of the Merger. Policies are no longer sold, however, premiums on existing policies continue to be permitted.

The Merger did not affect the terms of, or the rights and obligations under, the policy, other than to reflect the change to the company that provides your policy benefits from ALAC to ALIC. You will receive policy endorsements from ALIC that reflect the change from ALAC to ALIC.

A copy of the prospectus may be obtained without charge by calling 800.366.6654, visiting augustarfinancial.com/variableproducts, or writing us at:

**One Financial Way<br> Montgomery, Ohio 45242**

**<u>(B) Reminder of Certain Changes to the Policy Prior to the Merger</u>:**

The information below is intended to remind you of certain changes to the policy that have occurred since the prospectus dated May 1, 2019.

Prior to October 2, 2023, the issuer of the policy was Ohio National Life Assurance Corporation ("ONLAC"). On October 2, 2023, ONLAC was renamed "AuguStar Life Assurance Corporation" and the name of the Separate Account was changed from "Ohio National Variable Account R" to "AuguStar Variable Account R." Also, on September 6, 2023, the name of the principal underwriter of the policy was changed from "Ohio National Equities, Inc." to "AuguStar Distributors, Inc."

**<u>(C) Revisions to the SAI:</u>**

As a result of the Merger, the SAI is modified as follows:

1) All references to ALAC (or its former name Ohio National Life Assurance Corporation) in the SAI are replaced with ALIC, and all references in the SAI to "Ohio National Variable Account R" are replaced with "AuguStar Variable Account R."

2) The section "Ohio National Life Assurance Corporation" under the heading "General Information" is replaced with the following:

**AuguStar Life Insurance Company (the Depositor)**

ALIC was organized under the laws of Ohio on September 9, 1909, as The Ohio National Life Insurance Company, and in 2023 changed its name to AuguStar Life Insurance Company. We write life, accident and health insurance and annuities in 49 states, the District of Columbia and Puerto Rico. Our home office is located at One Financial Way, Montgomery, Ohio 45242. ALIC is obligated to pay all amounts promised to investors under the policies.

We are a stock life insurance company owned by Constellation Insurance, Inc., which is wholly-owned by Constellation Insurance Holdings, Inc. Currently, Constellation Insurance, Inc., has assets of approximately $42.2 billion and equity of approximately $1.9 billion.

3) The section "The Ohio National Life Insurance Company ("Ohio National Life") " under the heading "General Information" is deleted. The subheading "Ohio National Variable Account R ("VAR")" is replaced with "AuguStar Variable Account R ("VAR") (the Registrant)".

4) The following section is added under the heading "Services":

**Custodian**

AuguStar Life Insurance Company, the Depositor, One Financial Way, Montgomery, Ohio 45242, holds custody of AuguStar Variable Account R's assets.

5) The section "Independent Registered Public Accounting Firm" under the heading "Services" is replaced with the following:

**Independent Registered Public Accounting Firm**

The financial statements of AuguStar Variable Account R and the statutory financial statements and financial statement schedules of AuguStar Life Insurance Company and AuguStar Life Assurance Corporation have been incorporated by reference herein in reliance upon the reports of KPMG LLP, independent registered public accounting firm, and upon the authority of said firm as experts in accounting and auditing.

The KPMG LLP report dated April 11, 2025 of AuguStar Life Insurance Company includes explanatory language that states that the financial statements are prepared by AuguStar Life Insurance Company using statutory accounting practices prescribed or permitted by the Ohio Department of Insurance, which is a basis of accounting other than U.S. generally accepted accounting principles. Accordingly, the KPMG LLP audit report states that the financial statements are not presented fairly in accordance with U.S. generally accepted accounting principles and further states that those financial statements are presented fairly, in all material respects, in accordance with statutory accounting practices prescribed or permitted by the Ohio Department of Insurance.

KPMG LLP

191 West Nationwide Blvd. Suite 500

Columbus, OH 43215-2568

6) The Section "Principal Underwriter" is replaced with the following:

**Underwriter**

While the policies are not currently available for sale, we continue to accept additional purchase payments. AuguStar Distributors, Inc. ("ADI"), the principal underwriter of the policies, is located at One Financial Way, Montgomery, OH 45242. ADI is a wholly-owned subsidiary of Constellation Insurance, Inc. The aggregate amount of commissions paid to ADI for policies issued by AuguStar Variable Account R, and the amounts retained by ADI, for each of the last three years have been:

---

| | | |
|:---|:---|:---|
| Year | Aggregate Commissions | Retained Commissions |
| 2024 | $0 | $0 |
| 2023 | $0 | $0 |
| 2022 | $0 | $0 |

---

7) After the section entitled "Principal Underwriter," add the following new section:

**Financial Statements**

The audited financial statements of ALIC and its unaudited pro-forma financial information reflecting the Merger follow. The financial statements of AuguStar Variable Account R and the financial statements of ALAC are incorporated into this SAI by reference to AuguStar Variable Account R's most recent [Form N-VPFS](https://www.sec.gov/Archives/edgar/data/770291/000139834425007691/fp0092457-9_nvpfs.htm) filed with the SEC.

**AUGUSTAR LIFE INSURANCE COMPANY**

(A Wholly Owned Subsidiary of Constellation Insurance, Inc.)

Statutory Statements of Admitted Assets, Liabilities, and Capital and Surplus

December 31, 2024 and 2023

(Dollars in thousands, except share amounts)

---

| | | |
|:---|:---|:---|
|  | **2024** | **2023** |
| **Admitted Assets** |  |  |
| Investments: |  |  |
| &nbsp;&nbsp;&nbsp;Bonds | $7712987 | 6082185 |
| &nbsp;&nbsp;&nbsp;Preferred stocks | 16552 | 16551 |
| &nbsp;&nbsp;&nbsp;Common stocks at fair value (cost $54,066 in 2024 and $52,641 in 2023) | 53788 | 52408 |
| &nbsp;&nbsp;&nbsp;Common stock of unconsolidated life insurance subsidiaries at statutory equity (cost $472,260 in 2024 and $475,760 in 2023) | 787026 | 636453 |
| &nbsp;&nbsp;&nbsp;Mortgage loans on real estate | 1669672 | 1197158 |
| &nbsp;&nbsp;&nbsp;Real estate, at cost less accumulated depreciation | 23493 | 23593 |
| &nbsp;&nbsp;&nbsp;Contract loans | 936013 | 926013 |
| &nbsp;&nbsp;&nbsp;Cash, cash equivalents and short-term investments | 569933 | 735778 |
| &nbsp;&nbsp;&nbsp;Receivables for securities | 9985 | 2050 |
| &nbsp;&nbsp;&nbsp;Derivatives | 191797 | 60886 |
| &nbsp;&nbsp;&nbsp;Other invested assets | 350110 | 326740 |
| &nbsp;&nbsp;&nbsp;Securities lending reinvested collateral assets |  | 162366 |
| &nbsp;&nbsp;&nbsp;Receivable for collateral | 30170 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total investments | 12351526 | 10222181 |
| Premiums and other considerations deferred and uncollected | 2566 | 2401 |
| Accrued investment income | 78107 | 57294 |
| Current federal income tax recoverable | 48062 | 66504 |
| Deferred tax asset, net | 62663 | 83317 |
| Other assets | 291652 | 336207 |
| Separate account assets | 13085072 | 13876582 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total admitted assets | $25919648 | 24644486 |
| **Liabilities and Capital and Surplus** |  |  |
| Reserves for future policy benefits: |  |  |
| &nbsp;&nbsp;&nbsp;Life policies and contracts | $2757913 | 2944954 |
| &nbsp;&nbsp;&nbsp;Accident and health policies | 19489 | 19497 |
| &nbsp;&nbsp;&nbsp;Annuity and other deposit funds | 847390 | 861109 |
| Contract claims | 18084 | 19650 |
| Other policyholders' funds: |  |  |
| &nbsp;&nbsp;&nbsp;Policyholders' dividend accumulations | 23294 | 24730 |
| &nbsp;&nbsp;&nbsp;Provision for policyholders' dividends payable in following year | 4810 | 3675 |
| &nbsp;&nbsp;&nbsp;Other | 145 | 103 |
| Payable to parent, subsidiaries and affiliates | 265756 | 218748 |
| Asset valuation reserve | 190754 | 117849 |
| Transfers to separate accounts due or accrued, net | (313867) | (422242) |
| Payable for securities | 6750 |  |
| Payable for securities lending |  | 162366 |
| Reinsurance funds withheld due to affiliate, net | 3292867 | 1030789 |
| Reinsurance funds withheld due to third party, net | 2257354 | 2380094 |
| Policy loan liability | 864622 | 854387 |
| Other liabilities | 573512 | 599347 |
| Separate account liabilities | 13085072 | 13876582 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total liabilities | 23893945 | 22691638 |
| Capital and surplus: |  |  |
| &nbsp;&nbsp;&nbsp;Class A common stock, $1 par value. Authorized, issued, and outstanding 10,000,000 shares | 10000 | 10000 |
| &nbsp;&nbsp;&nbsp;Surplus notes | 308158 | 308082 |
| &nbsp;&nbsp;&nbsp;Gross paid in and contributed surplus | 1073736 | 948736 |
| &nbsp;&nbsp;&nbsp;Aggregate write-ins for special surplus funds | 4967 | 62763 |
| &nbsp;&nbsp;&nbsp;Unassigned surplus | 628842 | 623267 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total capital and surplus | 2025703 | 1952848 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total liabilities and capital and surplus | $25919648 | 24644486 |

---

See accompanying notes to statutory financial statements.

**AUGUSTAR LIFE INSURANCE COMPANY**

(A Wholly Owned Subsidiary of Constellation Insurance, Inc.)

Statutory Statements of Operations

Years ended December 31, 2024, 2023 and 2022

(Dollars in thousands)

---

| | | | |
|:---|:---|:---|:---|
|  | **2024** | **2023** | **2022** |
| Premiums and other considerations: |  |  |  |
| &nbsp;&nbsp;&nbsp;Life and annuity | $1067918 | 1185777 | 146622 |
| &nbsp;&nbsp;&nbsp;Accident and health | 3964 | 4335 | 4677 |
| &nbsp;&nbsp;&nbsp;MODCO reinsurance premiums | (1347302) | 10146008 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total premiums and other considerations | (275420) | 11336120 | 151299 |
| Investment income: |  |  |  |
| &nbsp;&nbsp;&nbsp;Interest on bonds | 314681 | 236750 | 233675 |
| &nbsp;&nbsp;&nbsp;Dividends on stocks | 5426 | 4048 | 2820 |
| &nbsp;&nbsp;&nbsp;Dividends from subsidiaries |  | 8700 | 30300 |
| &nbsp;&nbsp;&nbsp;Interest on mortgage loans | 62546 | 52169 | 47523 |
| &nbsp;&nbsp;&nbsp;Real estate income | 3974 | 3114 | 2256 |
| &nbsp;&nbsp;&nbsp;Interest on contract loans | 42382 | 38646 | 40058 |
| &nbsp;&nbsp;&nbsp;Other income | 77325 | 70828 | 37165 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total investment income | 506334 | 414255 | 393797 |
| &nbsp;&nbsp;&nbsp;Less investment expenses | 54639 | 35708 | 38106 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net investment income | 451695 | 378547 | 355691 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total income | 176275 | 11714667 | 506990 |
| Death and other benefits: |  |  |  |
| &nbsp;&nbsp;&nbsp;Death benefits | 30758 | 35973 | 59943 |
| &nbsp;&nbsp;&nbsp;Accident and health benefits | 1798 | 1691 | 2020 |
| &nbsp;&nbsp;&nbsp;Annuity benefits, fund withdrawals, and other benefits to policyholders and beneficiaries | 2797613 | 2095583 | 1986052 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total death and other benefits | 2830169 | 2133247 | 2048015 |
| Change in reserves for future policy benefits and other funds | 442101 | 1160312 | (42519) |
| MODCO reinsurance reserve adjustment | (1339030) | 10103107 |  |
| Commissions | 324515 | 346430 | 113566 |
| General insurance expenses | 134968 | 148126 | 169404 |
| Insurance taxes, licenses, and fees | 14078 | 12204 | 13233 |
| Net transfers from separate accounts | (2290594) | (2247503) | (1648451) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total expenses | 116207 | 11655923 | 653248 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Income (loss) before dividends to policyholders, expense (benefit) for federal income taxes, and net realized capital gains (losses) | 60068 | 58744 | (146258) |
| Dividends to policyholders | 5838 | 4784 | 25056 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Income (loss) before expense (benefit) for federal income taxes and net realized capital gains (losses) | 54230 | 53960 | (171314) |
| Expense (benefit) for federal income taxes | 245 | (46018) | 63856 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Income (loss) before net realized capital gains (losses) | 53985 | 99978 | (235170) |
| Net realized capital gains (losses), net of interest maintenance reserve and income taxes | 34360 | (1328) | (20999) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net income (loss) | $88345 | 98650 | (256169) |

---

See accompanying notes to statutory financial statements.

**AUGUSTAR LIFE INSURANCE COMPANY**

(A Wholly Owned Subsidiary of Constellation Insurance, Inc.)

Statutory Statements of Changes in Capital and Surplus<br>Years ended December 31, 2024, 2023 and 2022<br>(Dollars in thousands)

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **Common <br> stock** | **Surplus <br> notes** | **Gross paid**<br> **in and contributed**<br> **surplus** | **Aggregate write-ins for special purpose funds** | **Unassigned <br> surplus** | **Total <br> capital and <br> surplus** |
| Balance at December 31, 2021 | $10000 | 309927 | 422372 | 58826 | 654411 | 1455536 |
| &nbsp;&nbsp;&nbsp;Net income |  |  |  |  | (256169) | (256169) |
| &nbsp;&nbsp;&nbsp;Amortization of surplus note |  | 77 |  |  |  | 77 |
| &nbsp;&nbsp;&nbsp;Change in net unrealized capital gains |  |  |  |  | 74400 | 74400 |
| &nbsp;&nbsp;&nbsp;Change in net deferred income tax |  |  |  |  | (33561) | (33561) |
| &nbsp;&nbsp;&nbsp;Change in nonadmitted assets and related items |  |  |  |  | (32184) | (32184) |
| &nbsp;&nbsp;&nbsp;Change in asset valuation reserve |  |  |  |  | (40482) | (40482) |
| &nbsp;&nbsp;&nbsp;Correction of an error, net of tax |  |  |  |  | 921 | 921 |
| &nbsp;&nbsp;&nbsp;Change in deferred coinsurance gain |  |  |  |  | 807410 | 807410 |
| &nbsp;&nbsp;&nbsp;Benefit plan adjustment |  |  |  |  | 7612 | 7612 |
| &nbsp;&nbsp;&nbsp;Paid in surplus |  |  | 401364 |  |  | 401364 |
| &nbsp;&nbsp;&nbsp;Dividends to stockholder |  |  |  |  | (419000) | (419000) |
| Balance at December 31, 2022 | 10000 | 310004 | 823736 | 58826 | 763358 | 1965924 |
| &nbsp;&nbsp;&nbsp;Net income |  |  |  |  | 98650 | 98650 |
| &nbsp;&nbsp;&nbsp;Amortization of surplus note |  | 78 |  |  |  | 78 |
| &nbsp;&nbsp;&nbsp;Repayment of surplus notes |  | (2000) |  |  |  | (2000) |
| &nbsp;&nbsp;&nbsp;Change in net unrealized capital gains |  |  |  |  | (11081) | (11081) |
| &nbsp;&nbsp;&nbsp;Change in net deferred income tax |  |  |  |  | (12650) | (12650) |
| &nbsp;&nbsp;&nbsp;Change in nonadmitted assets and related items |  |  |  |  | 64864 | 64864 |
| &nbsp;&nbsp;&nbsp;Change in asset valuation reserve |  |  |  |  | (22311) | (22311) |
| &nbsp;&nbsp;&nbsp;Change in deferred coinsurance gain |  |  |  |  | (57769) | (57769) |
| &nbsp;&nbsp;&nbsp;Benefit plan adjustment |  |  |  |  | 733 | 733 |
| &nbsp;&nbsp;&nbsp;Interest maintenance reserve disallowed |  |  |  | 3937 | (3937) |  |
| &nbsp;&nbsp;&nbsp;Paid in surplus |  |  | 125000 |  |  | 125000 |
| &nbsp;&nbsp;&nbsp;Dividends to stockholder |  |  |  |  | (196590) | (196590) |
| Balance at December 31, 2023 | 10000 | 308082 | 948736 | 62763 | 623267 | 1952848 |
| &nbsp;&nbsp;&nbsp;Net income |  |  |  |  | 88345 | 88345 |
| &nbsp;&nbsp;&nbsp;Amortization of surplus note |  | 76 |  |  |  | 76 |
| &nbsp;&nbsp;&nbsp;Change in net unrealized capital gains |  |  |  |  | 184442 | 184442 |
| &nbsp;&nbsp;&nbsp;Change in net unrealized foreign exchange capital loss |  |  |  |  | (397) | (397) |
| &nbsp;&nbsp;&nbsp;Change in net deferred income tax |  |  |  |  | 6519 | 6519 |
| &nbsp;&nbsp;&nbsp;Change in nonadmitted assets and related items |  |  |  |  | (44775) | (44775) |
| &nbsp;&nbsp;&nbsp;Change in asset valuation reserve |  |  |  |  | (72905) | (72905) |
| &nbsp;&nbsp;&nbsp;Correction of an error, net of tax |  |  |  |  | (1747) | (1747) |
| &nbsp;&nbsp;&nbsp;Change in deferred coinsurance gain |  |  |  |  | (20736) | (20736) |
| &nbsp;&nbsp;&nbsp;Benefit plan adjustment |  |  |  |  | 4033 | 4033 |
| &nbsp;&nbsp;&nbsp;Segregated special surplus for the benefit of affiliate |  |  |  | (58826) | 58826 |  |
| &nbsp;&nbsp;&nbsp;Interest maintenance reserve disallowed |  |  |  | 1030 | (1030) |  |
| &nbsp;&nbsp;&nbsp;Paid in surplus |  |  | 125000 |  |  | 125000 |
| &nbsp;&nbsp;&nbsp;Dividends to stockholder |  |  |  |  | (195000) | (195000) |
| Balance at December 31, 2024 | $10000 | 308158 | 1073736 | 4967 | 628842 | 2025703 |

---

See accompanying notes to statutory financial statements.

**AUGUSTAR LIFE INSURANCE COMPANY**

(A Wholly Owned Subsidiary of Constellation Insurance, Inc.)

Statutory Statements of Cash Flow

Years ended December 31, 2024, 2023 and 2022<br>(Dollars in thousands)

---

| | | | |
|:---|:---|:---|:---|
|  | 2024 | 2023 | 2022 |
| Cash flow from operations: |  |  |  |
| &nbsp;&nbsp;&nbsp;Premiums, other considerations, and fund deposits | $2786208 | 1353447 | 647344 |
| &nbsp;&nbsp;&nbsp;Investment income | 434107 | 382423 | 324991 |
|  | 3220315 | 1735870 | 972335 |
| Less: |  |  |  |
| &nbsp;&nbsp;&nbsp;Death and other benefits | 3082465 | 2431666 | 2460152 |
| &nbsp;&nbsp;&nbsp;Commissions, taxes, and other expenses | 500060 | 465522 | 433361 |
| &nbsp;&nbsp;&nbsp;Dividends paid to policyholders | 52753 | 58726 | 84170 |
| &nbsp;&nbsp;&nbsp;Net transfers from separate accounts | (2398970) | (1864597) | (1631142) |
|  | 1236308 | 1091317 | 1346541 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net cash provided by (used in) operations | 1984007 | 644553 | (374206) |
| Cash flow from investing activities: |  |  |  |
| &nbsp;&nbsp;&nbsp;Proceeds from investments sold, matured, or repaid: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Bonds | 1923439 | 538346 | 919225 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Stocks | 98500 | 459 | 16190 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Mortgage loans on real estate | 146716 | 107779 | 127148 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Other | 145193 | 42494 | 142742 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total investment proceeds | 2313848 | 689078 | 1205305 |
| Less cost of investments acquired: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Bonds | 3383815 | 607467 | 1185573 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Stocks | 96425 | 125051 | 10822 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Mortgage loans on real estate | 606879 | 186025 | 187097 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Real estate | 1331 | 1841 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Other | 399066 | 117559 | 72593 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total investments acquired | 4487516 | 1037943 | 1456085 |
| Less increase (decrease) in contract loans | 10046 | 25057 | (7539) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net cash used in investing activities | (2183714) | (373922) | (243241) |
| Cash flow from financing and other miscellaneous sources: |  |  |  |
| &nbsp;&nbsp;&nbsp;Repayment of surplus notes |  | (2000) |  |
| &nbsp;&nbsp;&nbsp;Capital and paid in surplus, less treasury stock | 125000 | 125000 | 401364 |
| &nbsp;&nbsp;&nbsp;Deposits on deposit-type contracts and other liabilities | 362044 | 327665 | 280381 |
| &nbsp;&nbsp;&nbsp;Withdrawals on deposit-type contracts and other liabilities | (406535) | (145568) | (185450) |
| &nbsp;&nbsp;&nbsp;Dividends to stockholder | (195000) | (84783) | (419000) |
| &nbsp;&nbsp;&nbsp;Change in dividends receivable from subsidiaries |  | 25000 | 175000 |
| &nbsp;&nbsp;&nbsp;Change in payable to affiliates due to cash concentration program | 40095 | 21704 | 97147 |
| &nbsp;&nbsp;&nbsp;Other, net | 108258 | (88341) | 172341 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net cash provided by financing | 33862 | 178677 | 521783 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net (decrease) increase in cash, cash equivalents and short-term investments | (165845) | 449308 | (95664) |
| Cash, cash equivalents and short-term investments: |  |  |  |
| &nbsp;&nbsp;&nbsp;Beginning of year | 735778 | 286470 | 382134 |
| &nbsp;&nbsp;&nbsp;End of year | $569933 | 735778 | 286470 |
| Supplemental disclosures of cash flow information for non-cash transactions: |  |  |  |
| &nbsp;&nbsp;&nbsp;Change in securities lending collateral | $(162366) | 48426 | (173898) |
| &nbsp;&nbsp;&nbsp;Amortization of deferred gain on reinsurance agreements | 73666 | 57769 | 73061 |
| &nbsp;&nbsp;&nbsp;Funds held under reinsurance agreement, net | 5937 | (6619) | (48747) |
| &nbsp;&nbsp;&nbsp;Funds held under traditional life reinsurance agreement, net |  |  | (1051) |
| &nbsp;&nbsp;&nbsp;Other investment asset adjustments for transfers | 165130 |  |  |
| &nbsp;&nbsp;&nbsp;Transfer of bonds from other invested assets | (93648) |  |  |
| &nbsp;&nbsp;&nbsp;Transfer of bonds for payment of dividends to parent |  | 92839 |  |
| &nbsp;&nbsp;&nbsp;Transfer of bonds for extraordinary dividend from subsidiary | (57650) |  |  |
| &nbsp;&nbsp;&nbsp;Transfer of subsidiary ownership for payment of dividends to parent |  | 18968 |  |
| &nbsp;&nbsp;&nbsp;Transfer of mortgage loans for extraordinary dividend from subsidiary | (13832) |  |  |
| &nbsp;&nbsp;&nbsp;Initial reinsurance premiums payable |  | 260636 |  |
| &nbsp;&nbsp;&nbsp;Settlement of reinsurance payable | (87720) | (123159) |  |
| &nbsp;&nbsp;&nbsp;Payable for securities | 6750 |  |  |
| &nbsp;&nbsp;&nbsp;Dividend declared and unpaid from affiliate |  |  | (25000) |
| &nbsp;&nbsp;&nbsp;Deferred gain on reinsurance agreements | (52930) |  | (880471) |

---

See accompanying notes to statutory financial statements.

**AUGUSTAR LIFE INSURANCE COMPANY**

(A Wholly Owned Subsidiary of Constellation Insurance, Inc.)

Notes to Statutory Financial Statements<br>December 31, 2024, 2023 and 2022<br>(Dollars in thousands)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(1)** **Organization and Business** 

*<u>Organization</u>*

AuguStar Life Insurance Company ("ALIC" or the "Company"), is a stock life insurance company wholly owned by Constellation Insurance, Inc. ("CII"), a stock holding company. CII is 100% owned by Constellation Insurance Holdings, Inc. ("CIHI"), a stock company organized under Ohio insurance laws.

ALIC owns 100% of AuguStar Life Assurance Corporation ("ALAC"), a stock life insurance subsidiary; National Security Life and Annuity Company ("NSLAC"), a stock life insurance subsidiary; Montgomery Re, Inc. ("MONT"), a special purpose financial captive life insurance company; Kenwood Re, Inc. ("KENW"), a special purpose financial captive life insurance company; Camargo Re Captive, Inc. ("CMGO"), a special purpose financial captive life insurance company; Sunrise Captive Re, LLC ("SUNR"), an Ohio authorized reinsurer.

ALIC owns 100% of ON Foreign Holdings, SMLLC ("ONFH"), a Delaware holding company. ONFH owns 100% of ON Overseas Holdings S.A.R.L. ("ONOH"), formerly ON Overseas Holdings B.V., a holding company and 100% of AuguStar Lending, LLC ("ALL"), a Delaware financial lending institution. ONOH owns 100% of ON Netherlands Holdings S.A.R.L. ("ONNH"), formerly ON Netherlands B.V., a holding company. On December 31, 2024, ONOH and ONNH were re-domiciled from the Netherlands to Luxemburg. ONNH owns Ohio National Seguros de Vida y Reaseguros S.A. ("ONSP"), formerly Ohio National Seguros de Vida S.A., a Peruvian insurance company, ON Global Holdings, SMLLC ("ONGH"), a Delaware holding company; and O.N. International do Brasil Participacoes, Ltda. ("OHIO"), which was formed to hold the equity method investment made when ONFS entered into a 50% joint venture agreement with a Brazilian insurance company. ONGH owns 92% of Ohio National Sudamerica S.A. ("ONSA"), a Chilean holding company; and ONNH owns 8%. ONSA owns 100% of Ohio National Seguros de Vida S.A. ("ONSV"), a Chilean insurance company. ALL was formed in 2023 to act as a lending institution to support lending activities both internally and externally.

On May 8, 2023 ONSV entered into an agreement for the acquisition of the Zurich Insurance Group annuity portfolio, held by Zurich Chile Seguros de Vida S.A. ("Zurich"), of approximately $2.6 billion in reserves held in Chile. The transaction was executed through a division of Zurich, resulting in the formation of a new life insurance entity, Zurich Chile Seguros Rentas de Vitalicias S.A. ("ZCR"). This new company, fully owned by Zurich, was assigned all assets and liabilities related to the annuity operations. On November 4, 2024, ZCR merged by absorption with Zurich Seguros de Rentas Vitalicias Chile S.A. ("ZRV"), fully owned by Zurich. Following this merger, ZRV remained as the surviving entity. On December 2, 2024, ONSV acquired 99.25% shares of ZRV from Zurich for a cash purchase price of $118,825. The remaining 0.75% shares is held by minority investors.

On April 30, 2024, the Superintendencia de Banca, Seguros y AFP ("SBS"), the Peruvian banking, insurance and pension fund regulator, issued the Resolución SBS N° 01866-2024, thereby authorizing ONSP to incorporate reinsurance activities into its business operations. Subsequently, on June 4, 2024, the ONSP officially changed its name as noted above.

**AUGUSTAR LIFE INSURANCE COMPANY**

(A Wholly Owned Subsidiary of Constellation Insurance, Inc.)

Notes to Statutory Financial Statements<br>December 31, 2024, 2023 and 2022<br>(Dollars in thousands)

During 2024, the Company formed Constellation Re Holdings Bermuda, LLC ("CRHB"), a Delaware holding company 100% owned by the Company, and Constellation Re (Bermuda) Ltd ("CRBL"), a Bermuda licensed reinsurer 100% owned by CRHB.

ALIC owned Constellation Investments, Inc. ("CINV"), formerly Ohio National Investments, Inc. ("ONII"), an investment advisor; AuguStar Distributors, Inc, ("ADI"), a broker dealer registered under the Securities and Exchange Commission Act of 1934; and The O.N. Equity Sales Company ("ONESCO"), a broker dealer registered under the Securities and Exchange Commission Act of 1934. During 2023, ALIC transferred its common stock holdings of CINV, ADI and ONESCO to its parent CII via a dividend.

*<u>Business</u>*

ALIC is a life, health (disability) and annuity insurer licensed in 49 states, the District of Columbia and Puerto Rico. The Company offers/services a full range of life, disability and annuity products through independent agents and other distribution channels and is subject to competition from other insurers throughout the United States. Over the past several years the Company has ceased accepting applications for certain variable annuities, retirement plans and disability products following a comprehensive review of the Company's businesses, taking into account the continuously changing regulatory landscape and increasing cost of doing business. The Company continues to service and support existing clients for all product lines. The primary focus of ALIC is to sell fixed indexed annuities, single premium immediate annuities and multiyear guarantee annuities.

The Company is subject to regulation by the insurance departments of the states in which it is licensed and undergoes periodic examinations by those departments.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(2)** **Basis of Presentation** 

The Company prepares its statutory financial statements in conformity with accounting practices prescribed or permitted by the Ohio Department of Insurance (the "Department"), which is an other comprehensive basis of accounting that differs from U.S. generally accepted accounting principles ("GAAP"). The Department requires that insurance companies domiciled in the State of Ohio prepare their statutory basis financial statements in accordance with the Statement of Statutory Accounting Principles ("SSAP") that are described in the National Association of Insurance Commissioners ("NAIC") *Accounting Practices and Procedures Manual* (the "Manual") subject to any deviations prescribed or permitted by the state insurance commissioner.

ALIC does not have any permitted or prescribed statutory accounting practices as of December 31, 2024 and 2023. ALIC's wholly-owned Vermont subsidiaries have permitted accounting practices as disclosed in Note 3(c). The statutory financial statements presented represent the accounts of the Company and do not include the accounts of any of its subsidiaries.

The Company's subsidiary, SUNR, applies a prescribed practice which values assumed guaranteed minimum death benefit ("GMDB") and guaranteed lifetime withdrawal benefit ("GLWB") risks on variable annuity contracts from the Company using a separate alternative reserve basis pursuant to Ohio Revised Code Chapter 3964 and approved by the Department. Effective January 1, 2024, SUNR amended is existing reinsurance treaty with Sycamore Re, Ltd. ("SYRE"), an affiliate reinsurer domiciled in the Cayman Islands, to cede all variable annuity contracts with a GLWB rider. The prescribed practice related to the Company's guaranteed risks changed the Company's carrying value of SUNR, included in Other invested assets on the Statutory Statements of Admitted Assets, Liabilities, Capital and Surplus, by $11,494 and $255,626 as of December 31, 2024 and 2023, respectively. If the prescribed practices were not applied, the Company's risk-based capital would continue to be above regulatory action levels.

**AUGUSTAR LIFE INSURANCE COMPANY**

(A Wholly Owned Subsidiary of Constellation Insurance, Inc.)

Notes to Statutory Financial Statements<br>December 31, 2024, 2023 and 2022<br>(Dollars in thousands)

A reconciliation of the Company's net statutory loss and capital and surplus between NAIC SSAP and practices prescribed by the State of Ohio are shown below:

---

| | | |
|:---|:---|:---|
|  | **2024** | **2023** |
| **Net Income (Loss)** |  |  |
| &nbsp;&nbsp;&nbsp;Company state basis | $88345 | 98649 |
| &nbsp;&nbsp;&nbsp;State prescribed practices that are an increase/(decrease) from NAIC SAP |  |  |
| &nbsp;&nbsp;&nbsp;NAIC SAP | $88345 | 98649 |
| **Capital and surplus** |  |  |
| &nbsp;&nbsp;&nbsp;Company state basis | $2025703 | 1952848 |
| &nbsp;&nbsp;&nbsp;State prescribed practices that are an increase/(decrease) from NAIC SAP Subsidiary valuation - SUNR | 11495 | 255626 |
| &nbsp;&nbsp;&nbsp;NAIC SAP | $2014208 | 1697222 |

---

Statutory accounting practices are different in some respects from financial statements prepared in accordance with GAAP. The primary reasons for the differences between equity and net income (loss) on a GAAP basis versus capital and surplus and net income (loss) on a statutory basis are that, for GAAP reporting purposes:

● The costs related to acquiring business, principally commissions and certain policy issue expenses related to successful acquisition efforts, are amortized over the period benefited rather than charged to income in the year incurred;

● future policy benefit reserves are based on anticipated Company experience for lapses, mortality and investment yield, rather than statutory mortality and interest requirements, without consideration of withdrawals;

● investments in fixed maturity securities are carried at either amortized cost or fair value based on their classifications; investments in fixed maturity securities classified as available-for-sale are carried at estimated fair value with net unrealized holding gains and losses reported in other comprehensive income; fixed maturity securities designated as trading are carried at fair value with net unrealized holding gains and losses reported in income; under statutory accounting, investments in bonds are reported at the lower of amortized cost or fair value based on their NAIC rating and any adjustments to fair value are reported directly in surplus (see Note 3(c) for more information regarding bond valuation);

**AUGUSTAR LIFE INSURANCE COMPANY**

(A Wholly Owned Subsidiary of Constellation Insurance, Inc.)

Notes to Statutory Financial Statements<br>December 31, 2024, 2023 and 2022<br>(Dollars in thousands)

● specific valuation allowances are established using the current expected credit loss ("CECL") impairment model, which only applies to financial assets carried at amortized cost, including mortgage loans, and reinsurance and other receivables. CECL is based on expected credit losses rather than incurred losses. Estimated credit losses on bonds classified as available for sale are recorded through an allowance for credit losses subject to future reversals if expected cash flows increase. Statutory accounting utilizes the other-than-temporary impairments ("OTTI") model described in Note 6;

● investments in replicated synthetic asset transactions ("RSATs") are reported at fair value; for statutory reporting, the assets are reported at amortized cost;

● investments in subsidiaries, controlled and other affiliated entities as defined in SSAP No. 97, *Investments in Subsidiary, Controlled and Affiliated Entities* are accounted for under the equity method. Under the equity method, domestic insurance subsidiaries are recorded at their underlying audited statutory surplus. Nonpublic non-insurance subsidiaries and other controlled entities are recorded at their underlying audited GAAP equity. Changes in the value of such investments are recorded as unrealized gains or losses. The earnings of such investments are recorded in net investment income only when dividends are declared. Under U.S. GAAP, these investments are consolidated;

● only contracts that have significant mortality or morbidity risk are classified as insurance contracts; otherwise, they are accounted for in a manner consistent with the accounting for interest bearing or other financial instruments; for statutory reporting, contracts that have any mortality or morbidity risk, regardless of significance, and contracts with life contingent annuity purchase rate guarantees are classified as insurance contracts;

● undistributed income and capital gains and losses for noncontrolling limited partnerships and limited liability companies investments are reported as unrealized gains and losses in earnings; for statutory reporting, the unrealized gains and losses are reported directly in surplus;

● the asset valuation reserve and interest maintenance reserve ("IMR") are not recorded;

● separate account seed money is classified as a trading security recorded at fair value as opposed to a component of separate account assets;

● under GAAP, "nonadmitted" assets do not exist, while for statutory reporting nonadmitted assets are excluded from capital and surplus (see Note 3(b) for more information regarding nonadmitted assets);

● changes in deferred taxes are recognized in either net income (loss) or other comprehensive income and not subject to the statutory limitation of 15% of capital and surplus;

● there is a presentation of other comprehensive income and comprehensive income;

● surplus notes are presented as part of notes payable within liabilities and are not presented as a component of capital and surplus;

**AUGUSTAR LIFE INSURANCE COMPANY**

(A Wholly Owned Subsidiary of Constellation Insurance, Inc.)

Notes to Statutory Financial Statements<br>December 31, 2024, 2023 and 2022<br>(Dollars in thousands)

● certain assets and liabilities are reported gross of ceded reinsurance balances;

● deposits to universal life contracts, investment contracts and limited payment contracts are not included in revenue;

● negative cash balances are reported as liabilities;

● certain annuity related contracts give rise to embedded derivatives for GAAP while STAT does not recognize these embedded derivatives; and

● on a statutory basis only, the correction of immaterial prior period errors are recorded directly to surplus.

The effects of the foregoing variances from GAAP on the accompanying statutory basis financial statements have not been determined, but are presumed to be material.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(3)** **Summary of Significant Accounting Policies** 

The significant accounting policies followed by the Company that materially affect statutory financial reporting are summarized below.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;***(a)***  ***Use of Estimates*** 

 ****

In preparing the statutory financial statements, management is required to make estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities as of the date of the statutory financial statements, and the reported amounts of revenues and expenses for the reporting period. Actual results could differ significantly from those estimates.

The most significant estimates and assumptions include those used in determining the liability for future policy benefits and claims, contingencies, provision for income taxes, deferred taxes and contingencies, and valuation of and impairment losses on investments. Although some variability is inherent in these estimates, the recorded amounts reflect management's best estimates based on facts and circumstances as of the date of the statutory financial statements. Management believes the amounts provided are appropriate.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;***(b)***  ***Nonadmitted Assets*** 

 ****

Certain assets designated as "nonadmitted assets" (principally furniture, equipment, certain deferred taxes, and certain receivables), along with statutory adjustments to the Company's common stock investment of affiliates carried at U.S. GAAP equity have been excluded from total admitted assets by a direct charge to surplus.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;***(c)***  ***Investments*** 

 ****

During 2024, the Company and ALAC contributed capital to four affiliated special purpose vehicles - Andromeda Funding, LLC; Antlia Funding, LLC; Cassiopeia Funding, LLC and Orion Funding, LLC (collectively, hereafter, the "SPVs"). The SPVs invest in commercial loans and securitize the assets into collateralized loan obligations ("CLOs"). The contribution split between the Company and ALAC is 87.5% and 12.5%, respectively, and their investment in the SPVs are recorded through both rated secured notes and subordinated notes, which are equity-like in nature. The rated secured notes in each of the SPVs are reported in Bonds and the unrated subordinated notes in each of the SPVs are reported in Other invested assets on the Statutory Statements of Admitted Assets, Liabilities, and Capital and Surplus. The SPVs are not legally owned by the Company or ALAC; however, they have been established to hold assets of the Company and ALAC managed by CINV an affiliated investment advisor.

**AUGUSTAR LIFE INSURANCE COMPANY**

(A Wholly Owned Subsidiary of Constellation Insurance, Inc.)

Notes to Statutory Financial Statements<br>December 31, 2024, 2023 and 2022<br>(Dollars in thousands)

*<u>Investment Income</u>*

Interest and dividends on investments is recorded within investment income. Realized capital gains and losses are reported net of federal income tax and transfers to the IMR. Realized gains (losses) on the sale of investments are determined on the basis of specific security identification on the trade date. Unrealized gains and losses on investments are charged or credited to unassigned surplus in accordance with NAIC rules.

Dividends are recorded on the ex-dividend date and interest is accrued as earned using an effective yield method giving effect to amortization of premiums and accretion of discounts.

*<u>Bonds</u>*

Bonds are valued as prescribed by the Securities Valuation Office ("SVO") of the NAIC Investment Analysis Office. Bonds are rated as "1" (highest quality), "2" (high quality), "3" (medium quality), "4" (low quality), "5" (lowest quality, not in or near default) or "6" (lowest quality, in or near default). Bonds rated as categories 1 through 5 are reported in the statutory financial statements at amortized cost using the modified scientific method. Bonds rated as category 6 are reported at the lower of amortized cost or fair value.

Mortgage-backed securities are generally stated at amortized cost and are amortized using anticipated prepayment assumptions based on a retrospective adjustment method that estimates prepayment activity by utilizing certain factors, including seasonality, current levels of interest rates, economic activity, and the term and age of the underlying collateral.

All securities defined as hybrid securities by the SVO are reported as bonds and are carried at amortized cost.

*<u>Preferred and Common Stocks</u>*

Preferred stocks rated by the SVO as categories 1-3 are reported at amortized cost. Those rated as categories 4-6 are reported at the lower of amortized cost or fair value.

Common stocks of unaffiliated companies are carried at fair value based on information from the SVO or quoted market prices when information is not available from the SVO.

Investments in the Company's wholly owned insurance subsidiaries are carried at audited statutory equity with changes in net assets, other than dividends declared, recognized as net unrealized capital gains or losses through surplus. Investments in the Company's special purpose financial captive reinsurers are carried as follows: MONT and KENW are carried at zero due to the fact that the State of Vermont has granted a permitted practice to allow the recognition of an admitted asset related to recoverables from third party stop-loss reinsurance agreements. The investment in CMGO is carried at the amount of capital contributions made by the Company. If the value of CMGO's surplus were to fall below the level of all capital contributions then a dollar for dollar reduction of the carrying value would occur until the investment value reached zero. The investment in SUNR is carried at the value of SUNR's statutory surplus, adjusted for the prescribed practice described in Note 2. Investments in wholly owned noninsurance subsidiaries are carried at the value of their underlying audited GAAP basis equity, adjusted for nonadmitted assets, based on the significance of their operations beyond holding assets for the use of the Company. Prior to the dividend described in Note 1, the Company did not record the investment in CINV, a noninsurance subsidiary, as it did not have audited GAAP financial statements for 2022.

**AUGUSTAR LIFE INSURANCE COMPANY**

(A Wholly Owned Subsidiary of Constellation Insurance, Inc.)

Notes to Statutory Financial Statements<br>December 31, 2024, 2023 and 2022<br>(Dollars in thousands)

Management reviews its investments in subsidiary, controlled, and affiliated entities for impairment based upon the probability that the Company will be able to recover the carrying amount of the investment or if there is evidence indicating the inability of the investee to sustain earnings, which would justify the carrying amount of the investment.

Management regularly reviews its bond and stock portfolios in order to evaluate the necessity to record impairment losses for other-than-temporary declines in estimated fair value of investments. See Note 6 for management's description and analysis of the portfolio.

*<u>Mortgage Loans on Real Estate</u>*

Mortgage loans on real estate consist of residential and commercial properties that are both directly owned and properties that are directly and wholly owned through an investment trust. Commercial mortgage loans are recorded at the unpaid principal balance of the loan, net of valuation allowance and unamortized discount. Residential mortgage loans are reported at cost, net of unamortized discounts or premiums. Premiums or discounts are amortized using the effective yield method. Interest income is accrued on the principal balance of each loan based on its contractual interest rate. The residential mortgage loan portfolio is held in an investment trust and managed by a third-party.

Management periodically reviews the portfolio for impairment and obtains updated valuations of the underlying collateral as needed. Significant changes (increase or decrease) in the net value of the collateral are adjusted through the valuation allowance; however, the net carrying value amount of the loan shall not exceed the recorded investment in the loan.

Loans in foreclosure and loans considered impaired as of the date of the Statutory Statements of Admitted Assets, Liabilities, and Capital and Surplus are placed on nonaccrual status and written down to the estimated fair value, net of estimated selling costs, of the underlying property to derive a new cost basis. Interest received on nonaccrual status mortgage loans on real estate is included in net investment income in the period received.

Mortgage loans can be restructured in a troubled debt restructuring ("TDR"). The Company assesses loan modifications on a case-by-case basis to evaluate whether a TDR has occurred and will then establish a specific valuation allowance for the excess carrying value of the loan over the estimated fair value of the collateral.

**AUGUSTAR LIFE INSURANCE COMPANY**

(A Wholly Owned Subsidiary of Constellation Insurance, Inc.)

Notes to Statutory Financial Statements<br>December 31, 2024, 2023 and 2022<br>(Dollars in thousands)

*<u>Real Estate</u>*

Real estate, occupied by the Company and held for the production of income, is generally carried at depreciated cost, net of encumbrances. Accumulated depreciation was $10,570 and $9,140 as of December 31, 2024 and 2023, respectively.

The Company occupies less than 50% of buildings held for the production of income.

*<u>Contract Loans</u>*

Contract loans, also referred to as policy loans, are stated at unpaid principal balances. Interest income on such loans is recorded as earned using the contractually agreed upon interest rate. Generally, interest is capitalized on the policy's anniversary date. The majority of these loans are included in the reinsurance agreement with an external reinsurer as discussed in Note 13. A corresponding liability has been recognized of $864,622 and $854,387 of December 31, 2024 and 2023, respectively, for the portion of the loans owed to the reinsurer.

*<u>Cash, Cash Equivalents and Short-term Investments</u>*

Short-term investments are carried at amortized cost and cash equivalents are carried at fair value. Cash equivalents are short-term and highly liquid investments with original maturities of three months or less, and short-term investments include securities and other investments with remaining maturities of one year or less, but greater than three months, at time of purchase.

*<u>Derivatives</u>*

The Company enters into derivative transactions that do not meet the criteria for hedge accounting or have not been designated in hedging relationships by the Company. The Company purchases equity index put options, equity futures, currency futures, equity swaps and interest rate swaptions as hedges for certain riders that were sold with variable annuity products. The Company similarly purchases equity index call options as hedges for the fixed indexed annuity product. These transactions provide the Company with an economic hedge, which is used as part of its overall risk management strategies. These derivative instruments are carried at estimated fair value. The realized changes in fair value are recorded in net realized capital losses, net of interest maintenance reserve and income taxes. The unrealized changes in fair value are recorded in unassigned surplus.

The Company enters into derivative transactions that meet the criteria for hedge accounting. The Company purchased a foreign currency swap that meets the criteria for hedge accounting and is accounted for consistent with the underlying hedged asset. The swap instrument is carried at estimated fair value, and changes in the estimated fair value of the swaps are recorded as unrealized capital gains or losses in unassigned surplus.

The Company also uses derivatives as part of RSATs. RSATs refer to derivative transactions entered into in conjunction with other investments in order to reproduce the investment characteristics of otherwise permissible investments. The accounting for derivatives used in RSATs depends upon how the underlying cash instrument is accounted for, as well as how the replicated asset would be accounted for if acquired directly; alternatively, the Company can elect to carry the derivative at fair value. The Company uses bonds as the referenced cash instrument in its current replication transactions, and therefore, the derivatives are carried at amortized cost. The Company accrues investment income for the replicated synthetic asset throughout the life of the RSAT. Realized gains or losses are recognized at maturity of the RSAT.

**AUGUSTAR LIFE INSURANCE COMPANY**

(A Wholly Owned Subsidiary of Constellation Insurance, Inc.)

Notes to Statutory Financial Statements<br>December 31, 2024, 2023 and 2022<br>(Dollars in thousands)

*<u>Other Invested Assets</u>*

Other invested assets primarily consist of the Company's investment in SUNR, external and inter-company surplus notes, investments in subordinated notes issued by the SPVs, and investments in limited partnerships and limited liability companies. Surplus notes are accounted for at amortized cost for NAIC ratings 1 or 2 or the lessor of amortized cost or fair value for NAIC ratings 3 through 6. In February 2022, the $75,000 intercompany surplus note issued to the Company was repaid. The transaction was completed in cash with a payoff amount of $75,000 plus accrued interest of $988.

The Company's investments in limited partnerships and limited liability companies are carried at the underlying audited GAAP equity of the investee using the equity method of accounting. The financial statements of these investments are usually not received in time for the Company to apply the equity method at each reporting period. Therefore, the equity pick-up on these investments has been recorded on a three-month lag. Income distributed from these investments are included in Net investment income on the Statutory Statements of Operations. The Company has no investments in limited partnerships or limited liability companies that exceed 10% of its admitted assets.

The statement value of limited partnerships and limited liability companies are evaluated and adjusted for any impairment in value that is determined to be other-than-temporary. The Company did not recognize any impairment write-down for these investments for the years ended December 31, 2024 and 2023.

The Company's investments in the SPVs subordinated notes are carried at the lower of amortized cost or fair value. Income distributed from these investments are included in Net investment income on the Statutory Statements of Income. The Company has no investments in limited partnerships or limited liability companies that exceed 10% of its admitted assets.

*<u>Securities Lending Program</u>*

The Company participates in an indemnified securities lending program administered by an unaffiliated agent in which certain portfolio holdings are loaned to third parties. The borrower must deliver to the Company's agent collateral having a market value equal to at least 102% and 105%, respectively, of the market value of the domestic and foreign securities loaned. The collateral received by the Company's agent from the borrower to secure loans on behalf of the Company must be in the form of cash, securities issued or guaranteed by the U.S. government or its agencies, or a bank letter of credit or equivalent obligation as may be pre-approved by the Company. The Company monitors the estimated fair value of the loaned securities on a daily basis and additional collateral is obtained as necessary. Securities lending reinvested collateral assets and the corresponding liability, payables for securities lending, are recorded on the Statutory Statements of Admitted Assets, Liabilities, and Capital and Surplus. Income and expenses associated with securities lending transactions are reported within Net investment income in the Statutory Statements of Operations.

**AUGUSTAR LIFE INSURANCE COMPANY**

(A Wholly Owned Subsidiary of Constellation Insurance, Inc.)

Notes to Statutory Financial Statements<br>December 31, 2024, 2023 and 2022<br>(Dollars in thousands)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;***(d)***  ***Segregated Special Surplus Fund*** 

The Company has established a segregated special surplus fund for the benefit of SUNR, a subsidiary, in accordance with the SUNR Plan of Operations approved by the State of Ohio. The assets, along with capital within SUNR, are to be used to provide the protection to maintain SUNR's statutory total adjusted capital at a level of at least 300% of its authorized control level ("ACL") risk based capital. The segregated special surplus fund is held in a custodial account. Dividends (including amounts classified as return of capital) paid by SUNR to ALIC during the years ended December 31, 2024 and 2023 were $155,000 and $88,000, respectively. Dividends (including amounts classified as return of capital) are placed in the segregated custodial account when paid. See additional details in Note 17 on dividends between SUNR and ALIC. As long as the surplus in SUNR plus the segregated special surplus fund is greater than 300% ACL, ALIC can withdraw excess capital from the segregated special surplus fund for it to use as unassigned surplus in the event at the end of the calendar quarter the segregated special surplus fund exceeds 100 % ACL.

With the 2024 variable annuity contracts with a GLWB treaty amendment between SUNR and SYRE discussed in Note 2, the capital requirements of SUNR were significantly reduced. During 2024, ALIC reduced the segregated surplus fund to zero due to SUNR having sufficient total adjusted capital by itself without needing ALIC's segregated surplus fund. At December 31, 2024 and 2023, the segregated special surplus fund was $0 and $58,826, respectively, recorded in the Aggregate write-ins for special surplus funds on the Statutory Statements of Admitted Assets, Liabilities, and Capital and Surplus and the Statutory Statements of Changes in Capital and Surplus. With the reduction of the segregated surplus fund balance to zero, the Company was able to release the majority of the invested assets to its general account. The Company plans to maintain a small balance for future needs and to keep the account active. The value of the custodial account was $2,623 and $56,134 at December 31, 2024 and 2023, respectively, which was invested in the following:

---

| | | |
|:---|:---|:---|
|  | **2024** | **2023** |
| Cash and cash equivalents | $590 | 8706 |
| Bonds | 2033 | 47428 |
| Total custodial account value | $2623 | 56134 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;***(e)***  ***Separate Accounts*** 

 ****

Separate account assets and liabilities represent contract holders' funds, which have been segregated into accounts with specific investment objectives. Separate account assets are recorded at estimated fair value based primarily on market quotations of the underlying securities. The investment income and gains or losses of these accounts accrue directly to the contract holders. Separate account liabilities for individual annuities issued in 1992 and after represent contract holders' funds adjusted for possible future surrender charges in accordance with the Commissioner's Annuity Reserve Valuation Method ("CARVM"). The difference between full account value and CARVM is reflected in Transfers to separate accounts due or accrued, net, as prescribed by the NAIC, on the Statutory Statements of Admitted Assets, Liabilities, and Capital and Surplus. The annual change in the difference between full account value and CARVM is reflected in the Statutory Statements of Operations as part of the Net transfers from separate accounts. The Company's revenue reflects fees charged to the separate accounts including administrative services and risks assumed and for the activity related to guaranteed contracts, which are riders to existing variable annuity contracts that are guaranteed by the Company's general account assets. The Company's expenses reflects benefits paid, changes in reserves and expense allowances.

**AUGUSTAR LIFE INSURANCE COMPANY**

(A Wholly Owned Subsidiary of Constellation Insurance, Inc.)

Notes to Statutory Financial Statements<br>December 31, 2024, 2023 and 2022<br>(Dollars in thousands)

Under accounting procedures prescribed by the NAIC, the Company records seed money contributed to, or withdrawn from, variable annuity separate accounts through a direct charge or credit to surplus. Seed money held in separate accounts represents the difference between separate account assets and liabilities. The change in separate account surplus, developed through seed money contributions, withdrawals, and unrealized gains and losses generated thereon, is also recorded directly to surplus without providing for federal income tax or income tax reductions. Dividend and capital gain distributions on seed money are recorded as Other income in the Statutory Statements of Operations.

Premium income, benefits and expenses of the separate accounts are included in the Statutory Statements of Operations with the offset recorded in Net transfers from separate accounts in the Statutory Statements of Operations. Investment income and realized capital gains (losses) on the assets of separate accounts, other than seed money, accrue to contract holders and are not recorded in the Statutory Statements of Operations. Unrealized capital gains (losses) on assets of separate accounts accrue to contract holders and, accordingly, are reflected in the separate account liability to the contract holder.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;***(f)***  ***Revenues and Expenses*** 

 ****

Premiums are credited to revenue over the premium paying period of the policies. Individual accident and health (disability) premiums are earned ratably over the terms of the related contracts or policies. Universal life and annuity premiums are recognized as revenue when received. Amounts received related to deposit contracts with mortality or morbidity risk, such as traditional life products and certain annuities with life contingencies, are recorded as premiums. Traditional life product revenues are recorded when due. Amounts received as payment for deposit contracts that do not incorporate any mortality or morbidity risk, including those annuities without life contingencies and guaranteed investment contracts, are not reported as revenue, but are recorded directly to the appropriate policy reserve account.

Expenses, including acquisition costs related to acquiring new business, are charged to operations as incurred.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;***(g)***  ***Reserves for Future Policy Benefits*** 

 ****

*<u>Life Policies and Contracts</u>*

For traditional life policies issued prior to January 1, 2020, reserves are based on statutory mortality and interest requirements without consideration for withdrawals. The mortality table and interest assumptions used for the majority of new policies issued was the 2017 Commissioners Standard Ordinary ("CSO") table with interest rates of 3.0% to 3.5%. With respect to in force policies, the mortality tables and interest assumptions used are primarily the 1941 CSO table with interest rates of 2.25% to 2.5%, the 1958 CSO table with interest rates of 1.75% to 4.5%, the 1980 CSO table with interest rates of 3.0% to 5.5%, the 2001 CSO table with interest rates of 3.0% to 4.0%, and the 2017 CSO table with interest rates of 3.0% to 3.5%. For policies issued on or after January 1, 2020, reserves are calculated as prescribed in section 20 of the Valuation Manual ("VM-20") using principles based reserves ("PBR"). The assumptions used in the calculations are a combination of prescribed assumptions and company experience.

**AUGUSTAR LIFE INSURANCE COMPANY**

(A Wholly Owned Subsidiary of Constellation Insurance, Inc.)

Notes to Statutory Financial Statements<br>December 31, 2024, 2023 and 2022<br>(Dollars in thousands)

The Company waives the deduction of deferred fractional premium at death and returns any portion of the final premium beyond the date of death. Surrender values are not promised in excess of the legally computed reserves. Reserves are computed using continuous functions to reflect these practices.

The method used in valuation of substandard policies is to hold 50% of the annual substandard premium as the substandard reserve in addition to the reserve calculated using standard mortality.

The Company had $5,550,598 and $5,802,869 of individual life insurance in force as of December 31, 2024 and 2023, respectively, and $1,679,782 and $1,594,670 of related reserves as of December 31, 2024 and 2023, respectively, for which the gross premiums were less than the net premiums according to the standard valuation set by the Department.

Tabular interest, tabular less actual reserves released, and tabular cost for all life contracts are determined in accordance with NAIC Annual Statement instructions. Traditional life, permanent and term products use a formula that applies a weighted average interest rate, determined from a seriatim valuation file, to the mean average reserves.

*<u>Accident and Health (Disability) Policies</u>*

The aggregate reserves for individual accident and health (disability) policies consist of active life reserves, disabled life reserves and unearned premium reserves. The active life reserves are calculated on a two-year preliminary term basis at interest rates of 3.0% to 6.0%, using either the 1964 Commissioner's Disability Table (policies issued prior to 1990) or the 1985 Commissioner's Individual Disability Table A (policies issued after 1989). The disabled life reserves are calculated using either the 1985 Commissioner's Individual Disability Table C at interest rates of 3.5% to 5.5% (claims incurred after 1989) or the 1964 Commissioner's Disability Table at an interest rate of 3.5% (claims incurred prior to 1990). Beginning January 1, 2020, the disability reserve calculations for new policies also incorporate the 2013 Individual Disability Insurance table and its associated modifiers as required by Actuarial Guideline 50.

*<u>Annuity and Other Deposit Funds</u>*

The Company issued traditional variable annuity contracts through its separate accounts, for which investment income and gains and losses on investments accrue directly to, and investment risk is borne by, the contract holder.

The Company also issued nontraditional variable annuity contracts in which the Company provides various forms of guarantees/riders to benefit the related contract holders.

The Company has five main types of rider benefits offered with individual variable annuity contracts:

● GMDB;

● GLWB;

● guaranteed minimum income benefit ("GMIB");

**AUGUSTAR LIFE INSURANCE COMPANY**

(A Wholly Owned Subsidiary of Constellation Insurance, Inc.)

Notes to Statutory Financial Statements<br>December 31, 2024, 2023 and 2022<br>(Dollars in thousands)

● guaranteed minimum accumulation benefit ("GMAB"); and

● guaranteed minimum withdrawal benefit ("GMWB").

The Company also offers a fixed indexed annuity with an optional GLWB rider. In 2023, the Company began offering a premium bonus on certain fixed indexed annuity base products. The bonus specifies a bonus rate, applied to the premium deposited, of 5 or 10 percent for the first policy year only. The premium bonus is allocated on day one when the contractholder's premium is deposited and vests over a number of years.

Effective January 1, 2020, the Company began reserving for variable annuity policies in force under section 21 of the Valuation Manual ("VM-21"). VM-21 sets forth requirements for the valuation of PBR for variable annuity and other contracts involving certain guaranteed benefits similar to those offered with variable annuities. VM-21 is a holistic reserve methodology, thus rider benefit reserves are not determined separately from the base reserve but rather on the policy as a whole. The requirement applies the principles of asset adequacy analysis directly to the risks associated with these products and guarantees. The VM-21 liability is evaluated with both company assumptions and prescribed assumptions under stochastic scenarios net of currently held applicable hedge asset cash flows. The Company holds the reserve liability valuation at the Conditional Tail Expectation ("CTE") 70 level of the company assumptions value plus any additional standard projection amount and is subject to a floor of cash surrender value. These guarantee reserves are included in the general account reserves. Prior to 2020, these policies were reserved under Actuarial Guideline 43 ("AG43").

Actuarial Guideline 35 ("AG35") interprets the standards for the valuation of reserves for fixed indexed annuities. AG35 is a holistic reserve methodology, thus rider benefit reserves are not determined separately from the base reserve but rather on the policy as a whole. The reserves for both the base policy and the rider guarantees are included in general account liabilities.

The reserves and deposit liabilities for individual deferred annuity products have been established based on the participants' net contributions, policy term, interest rates and various contract provisions. The average interest rate credited on these annuity policies was 3.60%, 2.26% and 2.98% for the years ended December 31, 2024, 2023 and 2022, respectively. The reserves for individual annuity policies issued after 1991 have been adjusted for possible future surrender charges in accordance with CARVM.

Reserves for ordinary (individual) immediate annuities are determined primarily using the 1937 Standard Annuity Table (interest rate of 11.25%), the 1971 Individual Annuity Mortality Table (interest rate of 11.25%), the 1983 Annuity Table (interest rates of 6.25% to 11.25%), the Annuity 2000 Table (interest rates of 4.00% to 7.00%), or the IAR2012 Mortality Table (interest rates of 1.00% to 5.25%). Group immediate annuity reserves are based primarily on the 1971 Group Annuity Mortality Table (interest rate of 11.25%), the 1983 Group Annuity Mortality Table (interest rates of 6.25% to 9.25%) or the 1994 Group Annuity Mortality Table (interest rates of 1.00% to 7.00%).

**AUGUSTAR LIFE INSURANCE COMPANY**

(A Wholly Owned Subsidiary of Constellation Insurance, Inc.)

Notes to Statutory Financial Statements<br>December 31, 2024, 2023 and 2022<br>(Dollars in thousands)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;***(h)***  ***Participating Business/Policyholders' Dividends*** 

 ****

Participating business, which refers to whole life policies that participate in profits through policyholders' dividends, represents 24.4% and 25.5% of the Company's ordinary life insurance in force at December 31, 2024 and 2023, respectively. The liability for policyholder dividends includes the estimated amount of annual dividends earned by policyholders and is recorded in Other policyholders' funds on the Statutory Statements of Admitted Assets, Liabilities, and Capital and Surplus. The policyholder dividends incurred are recorded in Dividends to policyholders in the Statutory Statements of Operations.

Policyholder dividends are approved annually by the Company's board of directors based upon the amount of distributable surplus. The aggregate amount of policyholder dividends is related to actual interest, mortality, morbidity, and expense experience for the year, as well as management's judgment as to the appropriate level of statutory surplus to be retained by the Company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;***(i)***  ***Asset Valuation Reserve/Interest Maintenance Reserve*** 

 ****

In compliance with statutory requirements, the Company maintains an asset valuation reserve ("AVR") and an IMR as prescribed by the NAIC.

The AVR is a formula reserve, which addresses specific asset risk areas and consists of the default component and the equity component. The default component provides for future credit related losses on bonds, including corporate debt securities, preferred stocks, derivative instruments, net of reinsurance, and mortgages. The equity component covers all types of equity investments. The two components are designed to address the default and equity risks of the Company's assets by calculating maximum reserve targets and controlling the flow of the reserve from and into surplus. The change in AVR is charged or credited directly to unassigned surplus.

The IMR minimizes the Statutory Statements of Operations impact of interest rates related realized capital gains and losses. Realized capital gains and losses for all types of bonds that result from changes in the overall level of interest rates are removed from the net realized capital gains (losses) amount and credited or charged to the liability for IMR. This liability is amortized into income over the remaining life of each bond based on a seriatim method.

Credit related OTTI losses are recorded through the AVR; interest related OTTI losses are recorded through the IMR.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;***(j)***  ***Reinsurance*** 

 ****

Reinsurance is an agreement by which a reporting entity transfers all or part of its risk under a contract to another reporting entity. For each of its reinsurance agreements, the Company determines whether the agreement provides indemnification against loss or liability relating to insurance risk in accordance with applicable accounting standards. The Company reviews all contractual features, including those that may limit the amount of insurance risk to which the reinsurer is subject or those that delay the timely reimbursement of claims.

**AUGUSTAR LIFE INSURANCE COMPANY**

(A Wholly Owned Subsidiary of Constellation Insurance, Inc.)

Notes to Statutory Financial Statements<br>December 31, 2024, 2023 and 2022<br>(Dollars in thousands)

Accounting for reinsurance requires the use of significant management estimates and assumptions, particularly related to the future performance of the underlying business and the potential impact of counterparty credit risk. The Company periodically reviews actual and anticipated experience compared to the assumptions used to establish assets and liabilities relating to ceded and assumed reinsurance and evaluates the strength of counterparties to its reinsurance agreements. Reinsurance does not discharge the Company from its primary liability to policyholders, and to the extent that a reinsurer were unable to meet its obligations, the Company would be liable to policyholders.

Premium income, reserves for future policy benefits, and liabilities for contract claims are stated net of reinsurance. Premiums, benefits and reserves related to reinsured business are accounted for on a basis consistent with those used in accounting for the original policies issued and the terms of the reinsurance agreements. The Company records a receivable for reinsured benefits paid and reduces policyholders' reserves for the portion of insurance liabilities that are reinsured. Commissions and expense allowances on reinsurance ceded are recorded as revenue.

Reinsurance transactions can result in initial gains or losses to the Company at inception. Losses at inception are recognized into income at inception. Gains are deferred, recorded in surplus and amortized into income as profits emerge on the block of business reinsured. Amortization of deferred gains on coinsurance is recorded through Premiums and other considerations on the Statutory Statements of Income.

Modified coinsurance ("MODCO") assumed and ceded is recorded based on the value, or change in value, of the underlying reserves. Assumed activity is recorded as premiums in MODCO reinsurance premiums with a corresponding expense recorded in MODCO reinsurance reserve adjustment on the Statutory Statements of Operations. Ceded activity for the change in value of the separate accounts MODCO reserves are recorded as premiums, along with the corresponding reserve adjustment, in MODCO reinsurance premiums on the Statutory Statements of Operations. Ceded activity for the change in value of the general account MODCO reserves is settled in cash with an offset to MODCO reinsurance premiums on the Statutory Statements of Operations.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;***(k)***  ***Federal Home Loan Bank ("FHLB") Agreements*** 

 ****

The Company is a member of the FHLB of Cincinnati. Through its membership, and by purchasing FHLB stock, the Company can enter into deposit contracts. The Company had outstanding deposit contracts of $750,000 as of December 31, 2024 and 2023, which are included in Annuity and other deposit funds on the Statutory Statements of Admitted Assets, Liabilities, and Capital and Surplus. The Company uses the deposits for the purpose of additional spread income.

**AUGUSTAR LIFE INSURANCE COMPANY**

(A Wholly Owned Subsidiary of Constellation Insurance, Inc.)

Notes to Statutory Financial Statements<br>December 31, 2024, 2023 and 2022<br>(Dollars in thousands)

FHLB capital stock is included in common stocks at fair value on the Statutory Statements of Admitted Assets, Liabilities, and Capital and Surplus. FHLB capital stock purchased at December 31 is indicated in the table below and is only in the general account:

---

| | | |
|:---|:---|:---|
|  | **2024** | **2023** |
| Membership stock - Class B | $19716 | 19041 |
| Activity stock | 33750 | 33000 |
| &nbsp;&nbsp;&nbsp;Total | $53466 | 52041 |
| Actual or estimated borrowing capacity as determined by the insurer | $750002 | 750002 |

---

Membership stock eligible and not eligible for redemption at December 31, 2024 is as follows:

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Membership stock** | **Current <br> year total** | **Not eligible<br> for**<br> **redemption** | **Less than <br> 6 months** | **6 months <br> to less <br> than 1** | **1 to less <br> than 3 <br> years** | **3 to 5 <br> years** |
| Class B | $19716 | 19716 | – |  | – |  |

---

Total collateral pledged to FHLB as of December 31 is indicated in the table below and is only in the general account.

---

| | | |
|:---|:---|:---|
|  | **2024** | **2023** |
| Total collateral pledged: |  |  |
| &nbsp;&nbsp;&nbsp;Fair value | $1049454 | 993686 |
| &nbsp;&nbsp;&nbsp;Carrying value | 1107491 | 1051758 |
| &nbsp;&nbsp;&nbsp;Total borrowing | 750000 | 750000 |

---

The maximum amount pledged as of December 31 is as follows:

---

| | | |
|:---|:---|:---|
|  | **2024** | **2023** |
| Maximum amount pledged: |  |  |
| &nbsp;&nbsp;&nbsp;Fair value | $1054774 | 995354 |
| &nbsp;&nbsp;&nbsp;Carrying value | 1117307 | 1061615 |
| &nbsp;&nbsp;&nbsp;Total borrowing | 750000 | 750000 |

---

**AUGUSTAR LIFE INSURANCE COMPANY**

(A Wholly Owned Subsidiary of Constellation Insurance, Inc.)

Notes to Statutory Financial Statements<br>December 31, 2024, 2023 and 2022<br>(Dollars in thousands)

Borrowing from FHLB as of December 31 is indicated in the table below and is only in the general account.

---

| | | |
|:---|:---|:---|
|  | **General <br> account** | **Funding agreements**<br> **reserves<br> established** |
| **2024** |  |  |
| Funding agreements | $750000 | 750000 |
| **2023** |  |  |
| Funding agreements | $750000 | 750000 |

---

The maximum amount available during the reporting period ended December 31, 2024 is $750,000 and is only applicable to the general account.

The Company has no prepayment obligations under debt, funding agreements or other agreements.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;***(l)***  ***Income Taxes*** 

 ****

Total federal income taxes are based upon the Company's best estimate of its current and deferred tax liabilities. Current tax expense is reported in the Statutory Statements of Operations as provision for federal income tax expenses if resulting from operations, and within net realized capital gains (losses) if resulting from capital transactions. Changes in the balance of deferred taxes, which provided for book versus tax temporary differences, are subject to limitations and are reported on various lines within capital and surplus. Limitations of deferred income taxes are recorded in the change in nonadmitted assets line, whereas deferred taxes associated with net unrealized capital gains (losses) are shown within that caption on a net basis. Accordingly, the reporting of temporary differences, such as reserves and policy acquisition costs, and permanent differences, such as dividend received deduction and tax credits, results in effective tax rates that differ from the federal statutory tax rate.

The Company is included as part of the life/non-life consolidated federal income tax return of CIHI. The method of allocation of tax among the consolidated affiliates is subject to a written agreement and is based on the affiliates' separate company taxable income. Net operating losses and realized losses are settled when utilized. Intercompany tax balances are settled quarterly.

On August 16, 2022, the Inflation Reduction Act was enacted and signed into Law. The Act included a number of tax-related provisions including a new corporate alternative minimum tax ("CAMT"). The Act will be effective for tax years beginning after 2022. The Company is not subject to CAMT in 2024.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;***(m)***  ***Litigation Contingencies*** 

 ****

The Company is a party in various legal actions arising in the normal course of business. Given the inherent unpredictability of these matters, it is difficult to estimate the impact on the Company's financial position. Liabilities are established when it is probable that a loss has been incurred, and the amount of loss can be reasonably estimated. Legal costs are recognized as incurred and for the estimated amount to be incurred.

**AUGUSTAR LIFE INSURANCE COMPANY**

(A Wholly Owned Subsidiary of Constellation Insurance, Inc.)

Notes to Statutory Financial Statements<br>December 31, 2024, 2023 and 2022<br>(Dollars in thousands)

On a quarterly and annual basis, the Company reviews relevant information with respect to liabilities for litigation, regulatory investigations and litigation-related contingencies to be reflected in the Company's statutory financial statements.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;***(n)***  ***Employee Benefit Plans*** 

 ****

The Company sponsors and/or administers various plans that provide defined benefit pension and other postretirement benefits covering eligible employees and sales representatives. Measurement dates used for all of the defined benefit pension and other postretirement benefit plans correspond with the year end of the Company. The Company recognizes the funded status of the projected benefit obligation ("PBO") less plan assets for pension benefits and the accumulated benefit obligation ("ABO") for other postretirement benefits for each of its plans.

The obligations and expenses associated with these plans require the use of assumptions such as discount rate, expected long-term return on plan assets, rate of compensation increases, healthcare cost trend rates, as well as participant demographics such as rate and age of retirements, withdrawal rates and mortality. Management determines these assumptions based upon a variety of factors such as historical performance of the plan and its assets, currently available market and industry data and mortality tables, and expected benefit payout streams. The assumptions used may differ materially from actual results due to, among other factors, changing market and economic conditions and changes in participant demographics. These differences may have an effect on the Company's statutory financial statements.

The Company sponsors a defined contribution plan for substantially all employees. The Company also sponsored a qualified contributory defined contribution profit-sharing plan for substantially all employees. Discretionary Company contributions were based on the net earnings of the Company. Accordingly, the Company recognized compensation cost for current contributions. During 2023, the profit-sharing plan was restructured, and the company ceased contributions.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;***(o)***  ***Equity and Undistributed Income of Subsidiaries*** 

 ****

Dividends received by the Company from its affiliates are recognized in investment income provided that the dividend is not in excess of undistributed accumulated earnings.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;***(p)***  ***New Accounting Standards*** 

 ****

In January 2024, the NAIC adopted INT 23-04, *Scottish Re Life Reinsurance Liquidation Questions*. The INT provides accounting and reporting guidance for ceding entities with reinsurance balances to or from Scottish Re, a U.S.-based life reinsurer in liquidation. The guidance focuses primarily on reinsurance recoverables. The INT states that "to the extent reinsurance amounts recoverable are secured by assets in trust...such amounts may be admitted to the extent the amounts are not in dispute." The Company has recorded a receivable for its assets held in trust equal to the value of liabilities recaptured of $51,049. The Company continues to monitor the state of the receivership.

In December 2023, the NAIC issued 2023-15, IMR/AVR Specific, effective January 1, 2024. The revisions specify the criteria that would require realized gains and losses from mortgage loans to be included in the asset valuation reserve (AVR) and the conditions in which realized gains and losses from debt securities where an acute credit event (i.e., a known event that significantly negatively affects the price of a security) occurred between the date of purchase and date of sale would be excluded from the IMR. The revisions also clarify the intent of the guidance whereby non-interest-related losses are to be allocated to the AVR. The adoption of this guidance was not material to the Company's statutory financial statements.

**AUGUSTAR LIFE INSURANCE COMPANY**

(A Wholly Owned Subsidiary of Constellation Insurance, Inc.)

Notes to Statutory Financial Statements<br>December 31, 2024, 2023 and 2022<br>(Dollars in thousands)

In October 2023, the NAIC issued revisions to SSAP No. 20, *Nonadmitted Assets* and SSAP No. 21, *Other Admitted Assets*, the update includes consistency revisions to SSAP No. 20. Revisions to SSAP No. 21 provide more detail on qualifying collateral, require information to support fair value of collateral to be available on request, and provide audit transition guidance for equity collateral from entities in the scope of SSAP No. 48, *Joint Ventures, Partnerships and Limited Liability Companies* and SSAP No. 97, *Investments to Subsidiary, Controlled and Affiliated Entities*. The adoption of this guidance did not impact the Company's statutory financial statements.

In August 2023, the NAIC issued INT 23-03 to SSAP No. 4, *Assets and Nonadmitted Assets*, SSAP No. 9, *Subsequent Events* and, SSAP No. 101, *Income Taxes*. The INT provides guidance for CAMT reporting on or after year-end 2023 and addresses accounting, the statutory valuation allowance, admissibility, disclosures, and year-end 2023 transition. The adoption of this guidance did not impact the Company's statutory financial statements.

In April 2020, May 2021, and August 2023, the NAIC adopted with modification ASU 2020-04, Reference *Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting and ASU 2021-01, Reference Rate Reform (Topic 848)*, with an expiration date of December 31, 2022. The guidance provides temporary optional expedients and exceptions relating to contract modifications and hedging relationships that reference the London Inter-Bank Offered Rate ("LIBOR") or another reference rate expected to be discontinued. The adoption of this guidance did not impact the Company's statutory financial statements.

In August 2023, the NAIC issued INT 23-01, *Negative IMR Admitted Asset*, effective August 13, 2023. The interpretation provides an optional, limited-time guidance, which allows the admittance of net negative (disallowed) IMR up to 10% of adjusted capital and surplus. INT 23-01: Net Negative (Disallowed) Interest Maintenance Reserve will be automatically nullified on January 1, 2026. The adoption of this guidance resulted in an increase to Other Assets and Aggregate write-ins for special surplus funds of $3,937 on the Statutory Statements of Admitted Assets, Liabilities and Capital and Surplus.

In August 2023, the NAIC issued revisions to SSAP No. 26, *Bonds* and SSAP No. 43, *Loan-Backed and Structured Securities*, effective January 1, 2025. These revisions adopt a new principles-based bond definition and the accounting for issuer credit obligations and asset-backed securities. The Company is in the process of assessing the impact of this standard on its statutory financial statements, but does not expect it to be material.

In August 2023, the NAIC issued revisions to SSAP No.43, *Loan-Backed and Structured Securities*, effective December 31, 2023. These revisions incorporate changes to add collateralized loan obligations ("CLOs") to the financial modeling guidance and to clarify that CLOs are not captured as legacy securities. The adoption of this guidance did not impact the Company's statutory financial statements.

**AUGUSTAR LIFE INSURANCE COMPANY**

(A Wholly Owned Subsidiary of Constellation Insurance, Inc.)

Notes to Statutory Financial Statements<br>December 31, 2024, 2023 and 2022<br>(Dollars in thousands)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;***(q)***  ***Subsequent Events*** 

 ****

The Company has evaluated subsequent events through April 11, 2025, the date the statutory financial statements were available to be issued.

In March 2025, CII contributed $125,000 in capital to ALIC in satisfaction of the third installment of the sponsored demutualization transaction discussed in Note 17.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(4)** **Business Risks and Uncertainties** 

The Company participates in an industry where there are risk factors that could have material adverse effects on the business and operating results. The following is a description of the various risk factors:

*Legal/Regulatory Risk* is the risk that changes in the legal or regulatory environment in which the Company operates could result in increased competition, reduced demand for the Company's products, or additional unanticipated expenses in the pricing of its products.

 

State insurance regulators and the NAIC regularly re-examine existing laws and regulations applicable to insurance companies and their products. Changes in these laws and regulations may be designed to protect or benefit policyholders and thus affect the Company's operating results.

Increased assessments from guaranty associations may occur if there is an increase of impaired, insolvent or failed insurers in the jurisdictions in which the Company operates.

Changes in the regulatory environment and changes in laws in the countries of the Company's international insurance operations could have a material adverse effect on its results of operations. The Company's international insurance operations are principally regulated by insurance regulatory authorities in the jurisdictions in which they are located or operate.

*Concentration Risk* is the risk that arises from the Company's reliance upon certain key business relationships. Based on policyholder account balances, the Company's largest distributor of individual (fixed, fixed index and variable) annuity products accounted for approximately 8.0% and 8.4% of total individual annuity reserves as of December 31, 2024 and 2023, respectively. It is possible that a change in the Company's relationship with this distributor could result in the loss of existing business and a large outflow of the Company's general account assets along with the subsequent loss of the investment spread earned on those assets.

 

*Mortality Risk* is the risk that overall life expectancy assumptions used by the Company in the pricing of its life insurance and annuity products prove to be too aggressive. This situation may occur, for example, as a result of pandemics, terrorism, natural disasters, or acts of war. The Company attempts to reduce this risk through geographical diversification and the purchase of reinsurance.

**AUGUSTAR LIFE INSURANCE COMPANY**

(A Wholly Owned Subsidiary of Constellation Insurance, Inc.)

Notes to Statutory Financial Statements<br>December 31, 2024, 2023 and 2022<br>(Dollars in thousands)

*Reinsurance Risk* is the risk that the reinsurance companies, where the Company has ceded a portion of its underwriting risk, may default on their obligation. The Company has entered into reinsurance agreements to cede a portion of its life, annuity and health business. The Company attempts to mitigate this risk by monitoring the ratings of reinsurance companies to which it chooses to cede risk to, requiring collateral to support ceded reserves, and/or following up on any outstanding balances with reinsurance companies.

 

*Ratings Risk* is the risk that rating agencies change their outlook or rating of the Company or a subsidiary of the Company. If such ratings were lowered significantly relative to its competitors, the Company's ability to market products to new customers could be harmed, and the Company could potentially lose existing customers. The Company monitors its Risk-Based Capital ("RBC") and other ratios for adequacy and maintains regular communications with the rating agencies in its effort to minimize the adverse impact of this risk.

 

*Cyber-security Risk* is the potential for information and systems to be vulnerable to adverse events, such as breaches, thefts, compromised integrity, damage, fraud, or business disruption, caused by internal, external or third parties. The loss of confidentiality, integrity or availability for information and systems could disrupt operations, result in the loss of business, materially affect profitability and negatively impact the Company's reputation. The current working environment is unprecedented with wide-scale remote usage of the Company's networks and may expose the Company to increased cyber-security vulnerability. The Company utilizes a defense in depth approach to physically, administratively and technically mitigate cyber-security risk. Multiple layers of security controls provide redundancy in the event a security control fails, or a vulnerability is exploited. The Company continually monitors cyber-security risk and implements new processes, controls and technology to address risks as they are identified. Despite these efforts, there is still a risk a cyber-security incident could happen.

 

*Credit Risk* is the risk that issuers of investment securities, mortgagees on mortgage loans or other parties, including reinsurers and derivative counterparties, default on their contractual obligations or experience adverse changes that would affect the Company. The Company attempts to minimize the adverse impact of this risk by monitoring the portfolio diversification, the Company's exposure to impairment, collectability of the loans, and the credit quality of reinsurers and derivative counterparties, as well as, in many cases, requiring collateral, lines of credit or assets in trust to manage credit exposure.

 

*Banking Risk* is the risk associated with the Company's concentrations of credit risk of its cash deposits and checking account balances, and risk of institutional failure. The Company maintains its cash deposits and checking account balances in various bank accounts that, at times, may exceed federally insured limits. The Company's cash deposits and checking account balances have been placed with high credit quality financial institutions. The Company has not experienced, nor does it anticipate, any losses with respect to such accounts.

 

*Interest Rate Risk* is the risk that interest rates will change and impact the valuation of the bond investments. A change in rates may cause certain interest-sensitive products to become uncompetitive or may cause disintermediation. To the extent that liabilities come due more quickly than assets mature, an insurer would have to borrow funds or sell assets prior to maturity and potentially recognize a gain or loss.

**AUGUSTAR LIFE INSURANCE COMPANY**

(A Wholly Owned Subsidiary of Constellation Insurance, Inc.)

Notes to Statutory Financial Statements<br>December 31, 2024, 2023 and 2022<br>(Dollars in thousands)

*Equity Market Risk* is the risk of loss due to declines in the equity markets in which the Company participates. A decline in the stock market will affect the value of equity securities and the contract value of the Company's individual variable annuity contracts, which offer guaranteed benefit riders as well as fixed indexed annuity contracts. Losses in the equity market could result in declines in separate account assets and assets under management, which could affect investment management fees revenue.

 

The Company attempts to minimize the adverse impact of equity market risk by monitoring the diversification of the Company's investment portfolio and through reinsurance arrangements with third parties. The Company uses equity index put options, equity index call options, equity swaps and interest rate swaptions to minimize exposure to the market risk associated with guarantees on certain underlying policyholder liabilities.

The Company does not have any direct exposure within its investment portfolio to businesses in Russia, Ukraine, Israel or Palestine. However, the ongoing conflicts in these areas are impacting global economic and financial markets exacerbating ongoing economic challenges. The Company is actively monitoring the impact of the conflict on its investment portfolio.

*Inflation Risk* is the risk that inflation will undermine the performance of investments. Times of rising inflation will cause interest rates to increase. As discussed above, interest will change and impact the valuation of the Company's investments. The Company has the ability to hold securities until maturity and has the ability to adjust product crediting rates allowing the Company to mitigate the potential of liabilities coming due more quickly than the assets mature. The long-term nature of the Company's business allows for the Company to manage through periods of change. The Company is monitoring the responsive monetary policy actions taken or anticipated to be taken by central banks to curb inflation and the corresponding impact on market interest rates.

 

*Liquidity Risk* is the risk that the Company may not have the ability to sell certain investments to meet obligations of the Company.

 

If the tax treatment of existing Bank Owned Life Insurance ("BOLI") policies is changed, there is the potential that a portion of the issued policies may be surrendered or allowed to lapse in a short period of time creating a liquidity strain. The Company has applied risk mitigation through diversifying BOLI sales to community banks and credit unions. Credit unions are tax exempt entities, thus eliminating the surrender risk due to any pending tax law changes. In addition, effective July 1, 2019, the Company has reinsured the majority of the block of business with a third party under a coinsurance agreement.

*Investment Risk* – see Note 6 for additional risks specific to the investment portfolio.

 

*Civil Unrest and Political Risk* is the risk that continued civil unrest and challenging political environments may cause significant volatility, declines in the value of investments, loss of life, property damage, additional disruption to commerce and reduce economic activity. Any significant civil unrest or political challenges could result in the decrease of the Company´s net income, revenue and assets under management and may adversely affect the Company´s investment portfolio.

**AUGUSTAR LIFE INSURANCE COMPANY**

(A Wholly Owned Subsidiary of Constellation Insurance, Inc.)

Notes to Statutory Financial Statements<br>December 31, 2024, 2023 and 2022<br>(Dollars in thousands)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(5)** **Fair Value Measurements** 

Included in various investment related line items in the statutory financial statements are certain financial instruments carried at fair value. Other financial instruments are periodically measured at fair value, such as when impaired, or for certain bonds and preferred stock when carried at the lower of cost or market.

*<u>Fair Value Hierarchy</u>*

Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability (exit price) in an orderly transaction between market participants at the measurement date. In determining fair value, the Company uses various methods including market, income and cost approaches. The market approach utilizes prices and other relevant information generated by market transactions involving identical or comparable assets and liabilities. The income approach uses discounted cash flows to determine fair value. When applying either approach, the Company maximizes the use of observable inputs and minimizes the use of unobservable inputs. Observable inputs reflect the assumptions market participants would use in valuing a financial instrument based on market data obtained from sources independent of the Company. Unobservable inputs reflect the Company's estimates about the assumptions market participants would use in valuing financial assets and financial liabilities based on the best information available in circumstances.

The Company is required to categorize its assets and liabilities that are carried at estimated fair value on the Statutory Statements of Admitted Assets, Liabilities, and Capital and Surplus into a three level hierarchy based on the priority of the inputs to the valuation technique in accordance with SSAP No. 100, *Fair Value Measurements*. The fair value hierarchy gives the highest priority to quoted prices in active markets for identical assets or liabilities (Level 1) and the lowest priority to unobservable inputs (Level 3). If the inputs used to measure estimated fair value fall within different levels of the hierarchy, the category level is based on the lowest priority level input that is significant to the fair value measurement.

The levels of the fair value hierarchy are as follows:

● **Level 1 –** Fair value is based on unadjusted quoted prices for identical assets and liabilities in an active market at the measurement date. The types of assets and liabilities utilizing Level 1 valuations generally include cash and cash equivalents, short-term investments, separate account assets and exchange traded derivatives.

● **Level 2** – Fair value is based on significant inputs, other than quoted prices included in Level 1, that are observable in active markets or that are derived principally from, or corroborated by, observable market data through correlation or other means for identical or similar assets and liabilities. The types of assets and liabilities utilizing Level 2 valuations generally include U.S. government agency securities; municipal bonds; foreign government debt; certain corporate debt; asset-backed, mortgage-backed, and private placement securities; unaffiliated surplus notes; other invested assets; derivatives; common stocks; securities lending reinvested collateral; and cash equivalent securities.

● **Level 3** – Fair value is based on unobservable inputs for the asset or liability for which there is little or no market activity at the measurement date. Unobservable inputs used in the valuation reflect management's best estimate about the assumptions market participants would use to price the asset or liability. The types of assets and liabilities utilizing Level 3 valuations generally include certain corporate debt, asset-backed or mortgage-backed securities, common stocks, other invested assets and derivative securities.

**AUGUSTAR LIFE INSURANCE COMPANY**

(A Wholly Owned Subsidiary of Constellation Insurance, Inc.)

Notes to Statutory Financial Statements<br>December 31, 2024, 2023 and 2022<br>(Dollars in thousands)

The following tables present the Company's hierarchy for its financial assets and liabilities measured at estimated fair value on a recurring basis at December 31:

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Level 1** | **Level 2** | **Level 3** | **Total** |
| **2024** |  |  |  |  |
| Assets: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Investments: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Bonds | $— | 77 |  | 77 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Preferred stock |  | 6552 |  | 6552 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Common stocks |  | 53508 | 280 | 53788 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Cash, cash equivalents and short-term investments | 569933 |  |  | 569933 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Derivatives | 13339 | 162406 |  | 175745 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Other invested assets |  |  | 218059 | 218059 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Securities lending reinvested collateral assets |  |  |  |  |
| Other assets: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Separate account assets | 13085072 |  |  | 13085072 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total assets | $13668344 | 222543 | 218339 | 14109226 |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Level 1** | **Level 2** | **Level 3** | **Total** |
| **2023** |  |  |  |  |
| Assets: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Investments: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Bonds | $— | 97 |  | 97 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Preferred stock |  | 6551 |  | 6551 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Common stocks |  | 52074 | 334 | 52408 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Cash, cash equivalents and short-term investments | 735778 |  |  | 735778 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Derivatives |  | 60886 |  | 60886 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Other invested assets |  |  | 91714 | 91714 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Securities lending reinvested collateral assets |  | 162365 |  | 162365 |
| Other assets: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Separate account assets | 13876582 |  |  | 13876582 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total assets | $14612360 | 281973 | 92048 | 14986381 |
| Liabilities: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Other liabilities: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Derivatives | $17280 |  |  | 17280 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total liabilities | $17280 |  |  | 17280 |

---

**AUGUSTAR LIFE INSURANCE COMPANY**

(A Wholly Owned Subsidiary of Constellation Insurance, Inc.)

Notes to Statutory Financial Statements<br>December 31, 2024, 2023 and 2022<br>(Dollars in thousands)

The carrying amount and the NAIC estimated fair value of all financial instruments were as follows as of December 31. The valuation techniques used to estimate these fair values are described below.

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | | | **Fair value hierarchy level** | **Fair value hierarchy level** | **Fair value hierarchy level** |
|  | **Carrying**<br>**amount** | **NAIC <br> estimated**<br>**fair value** | **Level 1** | **Level 2** | **Level 3** |
| **2024** |  |  |  |  |  |
| Assets: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Investments: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Bonds | $7712987 | 6832782 | 597499 | 4734764 | 1500519 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Preferred stocks | 16552 | 15951 |  | 6551 | 9400 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Common stocks, other than investments in affiliates | 53788 | 53788 |  | 53508 | 280 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Mortgage loans on real estate | 1669672 | 1569987 |  |  | 1569987 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Contract loans | 936013 | 896198 |  |  | 896198 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Cash, cash equivalents and short-term investments | 569933 | 569933 | 569933 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Derivatives | 191797 | 193834 | 13339 | 180495 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Other invested assets | 350110 | 322282 |  | 79969 | 242313 |
| &nbsp;&nbsp;&nbsp;Other assets: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Separate account assets | 13085072 | 13085072 | 13085072 |  |  |
| Liabilities: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Guaranteed investment contracts | $750000 | 750000 |  | 750000 |  |
| &nbsp;&nbsp;&nbsp;Individual deferred annuities | 616695 | 607089 |  | 607089 |  |
| &nbsp;&nbsp;&nbsp;Immediate and other annuity deposits | 1265499 | 820793 |  | 820793 |  |
| &nbsp;&nbsp;&nbsp;Other policyholder funds | 28104 | 28104 | 28104 |  |  |
| &nbsp;&nbsp;&nbsp;Derivatives |  | 64861 | 64861 |  |  |
| &nbsp;&nbsp;&nbsp;Separate account liabilities | 13085072 | 13085072 | 13085072 |  |  |

---

**AUGUSTAR LIFE INSURANCE COMPANY**

(A Wholly Owned Subsidiary of Constellation Insurance, Inc.)

Notes to Statutory Financial Statements<br>December 31, 2024, 2023 and 2022<br>(Dollars in thousands)

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | | | **Fair value hierarchy level** | **Fair value hierarchy level** | **Fair value hierarchy level** |
|  | **Carrying**<br>**amount** | **NAIC <br> estimated**<br>**fair value** | **Level 1** | **Level 2** | **Level 3** |
| **2023** |  |  |  |  |  |
| Assets: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Investments: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Bonds | $6082185 | 5294986 | 56721 | 5140822 | 97443 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Preferred stocks | 16551 | 15757 |  | 6551 | 9206 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Common stocks, other than investments in affiliates | 52408 | 52408 |  | 52074 | 334 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Mortgage loans on real estate | 1197158 | 1114161 |  |  | 1114161 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Contract loans | 926013 | 925615 |  |  | 925615 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Cash, cash equivalents and short-term investments | 735778 | 735778 | 735778 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Derivatives | 60886 | 60886 |  | 60886 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Other invested assets | 326740 | 303035 |  | 84266 | 218769 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Securities lending reinvested collateral assets | 162366 | 162365 |  | 162365 |  |
| &nbsp;&nbsp;&nbsp;Other assets: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Separate account assets | 13876582 | 13876582 | 13876582 |  |  |
| Liabilities: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Guaranteed investment contracts | $750000 | 750833 |  | 750833 |  |
| &nbsp;&nbsp;&nbsp;Individual deferred annuities | 293420 | 287776 |  | 287776 |  |
| &nbsp;&nbsp;&nbsp;Immediate and other annuity deposits | 1777863 | 1254943 |  | 1254943 |  |
| &nbsp;&nbsp;&nbsp;Other policyholder funds | 28405 | 28405 | 28405 |  |  |
| &nbsp;&nbsp;&nbsp;Derivatives | 17280 | 17280 | 17280 |  |  |
| &nbsp;&nbsp;&nbsp;Separate account liabilities | 13876582 | 13876582 | 13876582 |  |  |

---

*<u>Determination of Fair Values</u>*

The valuation methodologies used to determine the estimated fair values of assets and liabilities under the exit price notion of SSAP No. 100, *Fair Value Measurements*, reflect market participant objectives and are based on the application of the fair value hierarchy that prioritizes observable market inputs over unobservable inputs. The Company determines the estimated fair values of certain financial assets and financial liabilities based on quoted market prices, where available. The Company also determines estimated fair value based on future cash flows discounted at the appropriate current market rate. Estimated fair values include adjustments for credit-related and liquidity issues of the underlying issuer of the investment.

The Company has policies and guidelines that establish valuation methodologies and consistent application of such methodologies. These policies and guidelines provide controls around the valuation process. These controls include appropriate review and analysis of investment prices against market activity or price variances, review of price source changes, and review of methodology changes.

**AUGUSTAR LIFE INSURANCE COMPANY**

(A Wholly Owned Subsidiary of Constellation Insurance, Inc.)

Notes to Statutory Financial Statements<br>December 31, 2024, 2023 and 2022<br>(Dollars in thousands)

The following is a discussion of the methodologies used to determine estimated fair values for the financial instruments and policy reserves listed in the above tables:

*Bonds –* The estimated fair value of bonds is based on market prices published by the SVO, where available. Otherwise, the fair value of bonds is generally obtained from independent pricing services based on market quotations of reported trades for identical or similar securities. The Company classifies these bonds as Level 1 assets.

 

When there are no recent reported trades, the Company uses third party pricing services that use matrix or model processes to develop a security price using future cash flow expectations and collateral performance discounted at an estimated market rate. For the pricing of asset-backed and mortgage-backed securities, the models include estimates for future principal prepayments based on the characteristics of the underlying structure and prepayment speeds previously experienced at the interest rate levels projected for the underlying collateral. Since these securities have been priced using market observable inputs that are obtained by the independent pricing services, the Company has classified these bonds as Level 2 assets.

Bonds not priced by independent services are generally priced using an internal pricing matrix. The internal pricing matrix is developed by obtaining spreads for corporate securities with varying weighted average lives and bond ratings. The weighted average life and bond rating of a particular bond to be priced using the internal matrix are important inputs into the model and are used to determine a corresponding spread that is added to the appropriate U.S. Treasury yield to create an estimated market yield for that bond. The estimated market yield is then used to estimate the fair value of the particular bond. Since the inputs used for the internal pricing matrix are based on observable market data, the Company has classified these fair values as Level 2.

In some instances, the independent pricing service will price securities using independent broker quotations from market makers and other broker/dealers recognized to be market participants, which utilize inputs that may be difficult to corroborate with observable market data. If a security could not be priced by a third-party vendor or through internal pricing models, broker quotes are received and reviewed. These inputs may not be observable. These bonds are classified as Level 3 assets.

*Preferred stocks –* The estimated fair values of preferred stocks are determined from market prices published by the SVO. The Company has classified these fair values as Level 2 as they are priced using market observable inputs.

 

*Common stocks –* The Company's primary common stock holding is FHLB stock, which is carried at par and approximates fair value. The FHLB stock is not traded on an active market and is classified as a Level 2 asset.

 

In some instances, common stocks are being carried based on valuation metrics obtained from a third party valuation report. These common stocks are classified as Level 3 assets.

Common stocks of unaffiliated companies are carried at fair value based on information from the SVO or quoted market prices when fair market values are not available from the SVO. The Company has classified these other common stock fair values as Level 2 as they are priced using market observable inputs.

**AUGUSTAR LIFE INSURANCE COMPANY**

(A Wholly Owned Subsidiary of Constellation Insurance, Inc.)

Notes to Statutory Financial Statements<br>December 31, 2024, 2023 and 2022<br>(Dollars in thousands)

*Cash, cash equivalents and short-term investments –* Cash is considered a Level 1 asset as it is the functional currency in the U.S. and is the most liquid form of an asset and not subject to valuation fluctuations. Cash and cash equivalents are comprised of money market funds, bank deposits, and commercial paper.

 

Short-term investments are considered Level 2 since they are short-term, highly liquid investments that are not traded on an active market but are both a) readily convertible to known amounts of cash, and b) so near their maturity that they present insignificant risk of changes in value because of changes in interest rates. These short-term investments are recorded at carrying value, which approximates fair value since they are so close to maturity.

*Derivatives –* The Company enters into long-term investments comprised of equity futures, currency futures, equity index put options, equity index call options, equity swaps, RSATs (including treasury bond forwards and credit default swaps), and interest rate swaptions to economically hedge liabilities embedded in certain variable annuity and fixed indexed annuity products. The equity futures and currency futures are exchange traded derivatives, and the fair value is based on an active market quotation. The Company has classified the fair values of the exchange traded derivatives and treasury bond forwards as Level 1. The equity index put options, equity index call options, equity swaps, credit default swaps and interest rate swaptions are valued using pricing models with inputs that are observable in the market or can be derived principally from, or corroborated by, observable market data. These derivative assets are classified as Level 2 assets.

 

*Securities lending reinvested collateral assets –* Securities lending reinvested collateral is considered Level 2 for the purposes of fair value classification since they are short-term money market funds that are only available to securities lending customers and are not traded on an active market.

 

*Separate account assets –* Separate account assets are recorded at estimated fair value based primarily on market quotations of the underlying securities and reported as a summarized total on the Statutory Statements of Admitted Assets, Liabilities, and Capital and Surplus. The underlying securities are mutual funds that are valued using the reported net asset value, which is published daily. The Company has classified separate account assets as Level 1 assets**.**

 

*Mortgage loans on real estate –* The fair value of commercial mortgage loans on real estate is estimated using discounted cash flow analyses, using interest rates currently being offered for similar loans to borrowers with similar credit ratings. Loans with similar characteristics are aggregated for purposes of the calculations. The Company has classified the fair value of mortgage loans using the discounted cash flow analysis as Level 3 since certain significant inputs, such as credit rating, are internal.

 

The fair value of residential mortgage loans on real estate is provided by the third-party administrator of the portfolio. The third-party administrator uses independent broker quotations from market makers and other broker/dealers recognized to be market participants or internal valuation techniques, which utilize inputs that may be difficult to corroborate with observable market data. These are classified as Level 3 assets.

**AUGUSTAR LIFE INSURANCE COMPANY**

(A Wholly Owned Subsidiary of Constellation Insurance, Inc.)

Notes to Statutory Financial Statements<br>December 31, 2024, 2023 and 2022<br>(Dollars in thousands)

*Contract loans –* The fair value of contract loans is estimated using discounted cash flow calculations. The Company has classified these fair values as Level 3 since the expected life of the loan is based on internal assumptions.

 

*Other invested assets –* The Company's other invested assets include an affiliated surplus note. The fair value of the affiliated surplus note is determined by discounting the scheduled cash flows of the note using a market rate applicable to the yield, credit quality and maturity of similar debt instruments. The Company has classified the fair value generally as Level 2 since the valuation inputs are based on market observable information.

 

Included in other invested assets are unaffiliated surplus notes. Estimated fair values for these are determined from market prices published by the SVO. The Company has classified these fair values as Level 2 since the valuation inputs are based on market observable information.

The carrying amount reported in the statutory financial statements of limited partnership interests is based on quarterly GAAP financial statements provided by the partnership with annual adjustments to reconcile to the audited GAAP financial statements of the partnership. Limited partnership interests are classified as Level 3 assets.

The carrying amount reported in the statutory financial statements of the Company's investments in SUNR and CRHB, affiliated subsidiaries, was $24,253 and $127,055 at December 31, 2024 and 2023, respectively. This amount is included in other invested assets, and the Company has classified the fair value as Level 3 since the valuation inputs are not based on market observable information.

The carrying amount reported in the statutory financial statements of subordinated notes of the SPVs is based on the original cost value and measured at the lower of amortized cost or fair value, corroborated by market inputs including spreads and interest rates for similar investments. These investments are classified as Level 3 assets.

*Deferred and immediate annuity and investment contracts –* The fair value of the Company's liabilities under investment contracts is disclosed using one of two methods. For investment contracts without defined maturities, fair value is the estimated amount payable on demand, net of certain surrender charges. For investment contracts with known or determined maturities, fair value is estimated using discounted cash flow analyses. Interest rates used are similar to currently offered contracts with maturities consistent with those remaining for the contracts being valued. The Company has classified these fair values as Level 2 since the inputs are market observable.

 

*Policyholders' dividend accumulations and other policyholder funds –* The carrying amount reported in the statutory financial statements for these instruments approximates their estimated fair value. The Company has classified these amounts as Level 1 since these amounts can be converted to cash by the policyholder.

**AUGUSTAR LIFE INSURANCE COMPANY**

(A Wholly Owned Subsidiary of Constellation Insurance, Inc.)

Notes to Statutory Financial Statements<br>December 31, 2024, 2023 and 2022<br>(Dollars in thousands)

*Assets and Liabilities Measured at Fair Value on a Recurring Basis Using Significant Unobservable Inputs (Level 3)*

 

The following tables summarize the reconciliation of the beginning and ending balances and related changes in fair value measurements for which significant unobservable inputs were used in determining the estimated fair value for the years ended December 31:

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | **2024** | **2024** | **2024** | **2024** | **2024** | **2024** | **2024** | **2024** |
| <br>**Description** | **Beginning Balance at December 31, 2023** | **Transfers into Level 3** | **Transfers out of Level 3** | **Total gains (losses) included in Net income** | **Total gains (losses) included in Surplus** | **Purchases** | **Sales** | **Ending**<br> **Balance at December 31, 2024** |
| Common stocks | $334 |  |  |  | (54) |  |  | 280 |
| Other invested assets | 91714 |  |  | 10416 |  | 234164 | (118235) | 218059 |
|  | 92048 |  |  | 10416 | (54) | 234164 | (118235) | 218339 |

---

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | **2023** | **2023** | **2023** | **2023** | **2023** | **2023** | **2023** | **2023** |
| <br>**Description** | **Beginning**<br> **Balance at December 31, 2022** | **Transfers into Level 3** | **Transfers out of Level 3** | **Total gains (losses) inclouded in Net Income** | **Total gains (losses) included in surplus** | **Purchases** | **Sales** | **Ending**<br> **Balance at December 31, 2023** |
| Common stocks | $778 |  |  | (251) |  | 160 | (353) | 334 |
| Other invested assets | 35074 |  |  | 2376 |  | 55070 | (806) | 91714 |
|  | 35852 |  |  | 2125 |  | 55230 | (1159) | 92048 |

---

*Asset Transfers Between Levels*

 

The Company reviews its fair value hierarchy classifications annually. Changes in the observability of significant valuation inputs identified during these reviews may trigger reclassification of fair value hierarchy levels of financial assets and liabilities. Transfers into or out of Level 3 are primarily due to the availability of quoted market prices or changes in the market observability of valuation inputs that are significant to the fair value measurement.

There were no transfers between levels in 2024 or 2023.

*Common Stock of Subsidiaries*

Common stock of unconsolidated non-life insurance subsidiaries at statutory equity were recorded on the Statutory Statements of Admitted Assets, Liabilities, and Capital and Surplus and consists of the statutory equity of ADI and ONESCO at December 31, 2022. During 2023, the Company's common stock of these subsidiaries was transferred, via a dividend, to CII. At December 31, 2022, no non-life insurance subsidiary's common stock exceeded 10% of the Company's admitted assets.

**AUGUSTAR LIFE INSURANCE COMPANY**

(A Wholly Owned Subsidiary of Constellation Insurance, Inc.)

Notes to Statutory Financial Statements<br>December 31, 2024, 2023 and 2022<br>(Dollars in thousands)

Common stock of unconsolidated life insurance subsidiaries at statutory equity recorded on the Statutory Statements of Admitted Assets, Liabilities, and Capital and Surplus consists of the statutory equity of ALAC, NSLAC, and ONFH. Investments in the Company's special purpose financial captive reinsurers are carried differently. MONT and KENW are carried at zero due to the fact that the State of Vermont has allowed the recognition of an admitted asset related to recoverables from third party stop-loss reinsurance agreements. The investment in CMGO is carried at the amount of capital contributions made by the Company. If the value of CMGO's surplus were to fall below the level of all capital contributions, then a dollar for dollar reduction of the carrying value would occur until the investment value reached zero. At December 31, 2024 and 2023, none of the Company's unconsolidated life insurance subsidiaries' common stock exceeded 10% of the Company's admitted assets.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(6)** **Investments** 

*Investment Risks and Uncertainties*

 

Investments are exposed to various risks and uncertainties that affect the determination of estimated fair values, the ability to sell certain investments during strained market conditions, the recognition of impairments, and the recognition of income on certain investments. These risks and uncertainties include:

● the risk that the Company's assessment of an issuer's ability to meet all of its contractual obligations will change based on changes in the credit characteristics of that issuer;

● the risk that the economic outlook, including fluctuations in interest rates and inflationary pressures, will be worse than expected or have more of an impact on the issuer than anticipated;

● the risk that the Company obtains inaccurate information for the determination of the estimated fair value estimates and other-than-temporary impairments; and

● the risk that new information or changes in other facts and circumstances lead the Company to change its intent to hold the security to maturity or until it recovers in value.

Any of these situations are reasonably possible and could result in a charge to income in a future period.

The determination of impairments is highly subjective and is based upon periodic evaluations and assessments of known and inherent risks associated with each asset class. Such evaluations and assessments are revised as conditions change and new information becomes available.

The recognition of income on certain investments, including asset-backed and mortgage-backed securities, is dependent upon certain factors such as prepayments and defaults, and changes in factors could result in changes in amounts to be earned.

**AUGUSTAR LIFE INSURANCE COMPANY**

(A Wholly Owned Subsidiary of Constellation Insurance, Inc.)

Notes to Statutory Financial Statements<br>December 31, 2024, 2023 and 2022<br>(Dollars in thousands)

*Bonds and Stocks*

 

*<u>Bonds and Stocks by Sector</u>*

The carrying value, gross unrealized gains and losses, and estimated fair values of investments in bonds and stocks at December 31 are as follows:

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **2024** | **2024** | **2024** | **2024** |
|  | **Carrying <br> value\*** | **Gross <br> unrealized <br> gains** | **Gross <br> unrealized <br> losses** | **NAIC <br> estimated <br> fair value** |
| Bonds: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;U.S. government | $698386 | 1891 | (15341) | 684936 |
| &nbsp;&nbsp;&nbsp;All other governments | 9975 |  | (1994) | 7981 |
| &nbsp;&nbsp;&nbsp;States, territories and possessions | 794149 | 391 | (173153) | 621387 |
| &nbsp;&nbsp;&nbsp;Political subdivisions of states | 2345 |  | (55) | 2290 |
| &nbsp;&nbsp;&nbsp;Special revenue and assessment | 123040 | 1079 | (3490) | 120629 |
| &nbsp;&nbsp;&nbsp;Industrial and miscellaneous | 6085092 | 17496 | (707029) | 5395559 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total bonds | $7712987 | 20857 | (901062) | 6832782 |
| Preferred stocks | $16552 |  | (601) | 15951 |
| Common stocks | $54066 | 30 | (308) | 53788 |

---

\* Represents cost for Common stocks

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **2023** | **2023** | **2023** | **2023** |
|  | **Carrying <br> value\*** | **Gross <br> unrealized <br> gains** | **Gross <br> unrealized <br> losses** | **NAIC <br> estimated <br> fair value** |
| Bonds: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;U.S. government | $152934 | 6825 | (1901) | 157858 |
| &nbsp;&nbsp;&nbsp;All other governments | 6999 |  | (1203) | 5796 |
| &nbsp;&nbsp;&nbsp;States, territories and possessions | 895352 | 1247 | (169907) | 726692 |
| &nbsp;&nbsp;&nbsp;Political subdivisions of states | 2730 |  | (22) | 2708 |
| &nbsp;&nbsp;&nbsp;Special revenue and assessment | 143403 | 2398 | (3040) | 142761 |
| &nbsp;&nbsp;&nbsp;Industrial and miscellaneous | 4877767 | 27066 | (648623) | 4256210 |
| &nbsp;&nbsp;&nbsp;Hybrid securities | 3000 |  | (39) | 2961 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total bonds | $6082185 | 37536 | (824735) | 5294986 |
| Preferred stocks | $16551 |  | (794) | 15757 |
| Common stocks | $52641 | 21 | (254) | 52408 |

---

\* Represents cost for Common stocks

**AUGUSTAR LIFE INSURANCE COMPANY**

(A Wholly Owned Subsidiary of Constellation Insurance, Inc.)

Notes to Statutory Financial Statements<br>December 31, 2024, 2023 and 2022<br>(Dollars in thousands)

Included in the tables above under the caption U.S. government are bonds that were issued by agencies not backed by the full faith and credit of the U.S. government such as the Federal National Mortgage Association and the Federal Home Loan Mortgage Corporation.

Investments with an amortized cost of $9,574 and $8,467 were on deposit with various regulatory agencies as required by law as of December 31, 2024 and 2023, respectively.

*<u>Maturities of Bonds</u>*

The carrying value and the NAIC estimated fair value of bonds at December 31, 2024, by contractual maturity, are shown below. Expected maturities may differ from contractual maturities because borrowers may have the right to call or prepay obligations with or without call or prepayment penalties. Mortgage-backed securities are classified based on the last payment date of the underlying mortgage loans with the longest contractual duration.

---

| | | |
|:---|:---|:---|
|  | **Carrying**<br> **value** | **NAIC**<br> **estimated**<br> **fair value** |
| Due in one year or less | $335067 | 296829 |
| Due after one year through five years | 2277213 | 2017338 |
| Due after five years through ten years | 1465134 | 1297933 |
| Due after ten years | 3635573 | 3220682 |
| &nbsp;&nbsp;&nbsp;Total | $7712987 | 6832782 |

---

**AUGUSTAR LIFE INSURANCE COMPANY**

(A Wholly Owned Subsidiary of Constellation Insurance, Inc.)

Notes to Statutory Financial Statements<br>December 31, 2024, 2023 and 2022<br>(Dollars in thousands)

*<u>Continuous Gross Unrealized Losses for Bonds and Stocks</u>*

The following tables present the NAIC estimated fair value and gross unrealized losses of the Company's bonds (aggregated by sector) and preferred and common stocks in an unrealized loss position, aggregated by length of time the securities have been in a continuous unrealized loss position at December 31:

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **Less than 12 months** | **Less than 12 months** | **12 months or longer** | **12 months or longer** | **Total** | **Total** |
|  | **NAIC**<br> **estimated**<br> **fair value** | **Unrealized**<br> **losses** | **NAIC**<br> **estimated**<br> **fair value** | **Unrealized**<br> **losses** | **NAIC**<br> **estimated**<br> **fair value** | **Unrealized**<br> **losses** |
| **2024** |  |  |  |  |  |  |
| Bonds: |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;U.S. government | $555722 | (13726) | 20290 | (1615) | 576012 | (15341) |
| &nbsp;&nbsp;&nbsp;All other governments | 2831 | (146) | 5151 | (1848) | 7982 | (1994) |
| &nbsp;&nbsp;&nbsp;States, territories and possessions | 35476 | (2919) | 567700 | (170234) | 603176 | (173153) |
| &nbsp;&nbsp;&nbsp;Political subdivisions of states | 958 | (42) | 1332 | (13) | 2290 | (55) |
| &nbsp;&nbsp;&nbsp;Special revenue and assessment | 1372 | (3) | 63812 | (3487) | 65184 | (3490) |
| &nbsp;&nbsp;&nbsp;Industrial and miscellaneous | 523661 | (21082) | 2994837 | (685947) | 3518498 | (707029) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total bonds | 1120020 | (37918) | 3653122 | (863144) | 4773142 | (901062) |
| Preferred and common stocks | 280 | (305) | 9400 | (604) | 9680 | (909) |
| &nbsp;&nbsp;&nbsp;Total | $1120300 | (38223) | 3662522 | (863748) | 4782822 | (901971) |
| **2023** |  |  |  |  |  |  |
| Bonds: |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;U.S. government | $— |  | 26172 | (1901) | 26172 | (1901) |
| &nbsp;&nbsp;&nbsp;All other governments |  |  | 5795 | (1203) | 5795 | (1203) |
| &nbsp;&nbsp;&nbsp;States, territories and possessions | 7356 | (207) | 672757 | (169700) | 680113 | (169907) |
| &nbsp;&nbsp;&nbsp;Political subdivisions of states | 995 | (5) | 1713 | (17) | 2708 | (22) |
| &nbsp;&nbsp;&nbsp;Special revenue and assessment | 8868 | (146) | 68153 | (2894) | 77021 | (3040) |
| &nbsp;&nbsp;&nbsp;Industrial and miscellaneous | 215134 | (8562) | 3469584 | (640061) | 3684718 | (648623) |
| &nbsp;&nbsp;&nbsp;Hybrid securities |  |  | 2961 | (39) | 2961 | (39) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total bonds | 232353 | (8920) | 4247135 | (815815) | 4479488 | (824735) |
| Preferred and common stocks | 334 | (251) | 9206 | (797) | 9540 | (1048) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total | $232687 | (9171) | 4256341 | (816612) | 4489028 | (825783) |

---

**AUGUSTAR LIFE INSURANCE COMPANY**

(A Wholly Owned Subsidiary of Constellation Insurance, Inc.)

Notes to Statutory Financial Statements<br>December 31, 2024, 2023 and 2022<br>(Dollars in thousands)

The tables below summarize the bonds by sector in an unrealized loss position based on the percentage of fair value compared to book adjusted carrying value for less than and greater than twelve months as of December 31:

---

| | | | |
|:---|:---|:---|:---|
|  | **Less than <br> 12 months** | **12 months <br> or longer** | **Total** |
| **2024** |  |  |  |
| 99.9%-80%: |  |  |  |
| &nbsp;&nbsp;&nbsp;U.S. government | $(13726) | (1615) | (15341) |
| &nbsp;&nbsp;&nbsp;All other governments | (146) |  | (146) |
| &nbsp;&nbsp;&nbsp;States, territories and possessions | (501) | (27774) | (28275) |
| &nbsp;&nbsp;&nbsp;Political subdivisions of states | (42) | (13) | (55) |
| &nbsp;&nbsp;&nbsp;Special revenue and assessment | (3) | (3487) | (3490) |
| &nbsp;&nbsp;&nbsp;Industrial and miscellaneous | (14356) | (166316) | (180672) |
| Below 80%: |  |  |  |
| &nbsp;&nbsp;&nbsp;All other governments |  | (1848) | (1848) |
| &nbsp;&nbsp;&nbsp;States, territories and possessions | (2418) | (142460) | (144878) |
| &nbsp;&nbsp;&nbsp;Industrial and miscellaneous | (6726) | (519631) | (526357) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total | $(37918) | (863144) | (901062) |
| **2023** |  |  |  |
| 99.9%-80%: |  |  |  |
| &nbsp;&nbsp;&nbsp;U.S. government | $— | (1901) | (1901) |
| &nbsp;&nbsp;&nbsp;All other governments |  | (1203) | (1203) |
| &nbsp;&nbsp;&nbsp;States, territories and possessions | (207) | (42134) | (42341) |
| &nbsp;&nbsp;&nbsp;Political subdivisions of states | (5) | (17) | (22) |
| &nbsp;&nbsp;&nbsp;Special revenue and assessment | (146) | (2894) | (3040) |
| &nbsp;&nbsp;&nbsp;Industrial and miscellaneous | (6267) | (218239) | (224506) |
| &nbsp;&nbsp;&nbsp;Hybrid |  | (39) | (39) |
| Below 80%: |  |  |  |
| &nbsp;&nbsp;&nbsp;States, territories and possessions |  | (127566) | (127566) |
| &nbsp;&nbsp;&nbsp;Industrial and miscellaneous | (2295) | (421822) | (424117) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total | $(8920) | (815815) | (824735) |

---

*<u>Evaluation of Other-Than-Temporarily Impaired Investments</u>*

Management regularly reviews its bond and stock portfolios to evaluate the necessity of recording impairment losses for other-than-temporary declines in fair value of investments.

An analysis is prepared which focuses on the issuer's ability to service its debts and the length of time and extent the bond has been valued below cost. This review process includes an assessment of the credit quality or an assessment of the future cash flows of the identified investment in the portfolio.

**AUGUSTAR LIFE INSURANCE COMPANY**

(A Wholly Owned Subsidiary of Constellation Insurance, Inc.)

Notes to Statutory Financial Statements<br>December 31, 2024, 2023 and 2022<br>(Dollars in thousands)

For any securities identified in the review of the portfolio, the Company considers additional relevant facts and circumstances in evaluating whether the security has an OTTI. Relevant facts and circumstances that may be considered include:

● comparison of current estimated fair value of the security to cost;

● length of time the estimated fair value has been below cost;

● financial position of the issuer, including the current and future impact of any specific events, including changes in management;

● analysis of issuer's key financial ratios based upon the issuer's financial statements;

● any items specifically pledged to support the credit along with any other security interests or collateral;

● the Company's intent to sell the security or if it is more likely than not that it will be required to sell the security before it can recover the amortized cost or, for equity investments, the forecasted recovery of estimated fair value in a reasonable period of time;

● overall business climate, including litigation and government actions;

● rating agency downgrades;

● analysis of late payments, revenue forecasts and cash flow projections for use as indicators of credit issues; and

● other circumstances particular to an individual security.

In addition to the above, for certain securitized financial assets with contractual cash flows, including loan-backed and structured securities, the Company periodically evaluates the securities using the currently estimated cash flows, including new prepayment assumptions using the retrospective adjustment methodology. If the evaluation based on currently estimated cash flows results in discounted estimated future cash flows less than the book value, an OTTI is considered to have occurred. If the Company has the ability to hold and no intent to sell the security, the impairment amount recognized as a realized loss would be the difference between the amortized cost and the discounted cash flows.

For bonds that have an OTTI and securities where the Company intends to sell or does not have the ability to hold the security, the realized loss would equal the difference between the amortized cost and its fair value at the Statutory Statements of Admitted Assets, Liabilities, and Capital and Surplus date.

For industrial and miscellaneous securities, the Company evaluates the financial performance of the issuer, based upon credit performance and investment ratings, and expects to recover the entire amortized cost of each security.

**AUGUSTAR LIFE INSURANCE COMPANY**

(A Wholly Owned Subsidiary of Constellation Insurance, Inc.)

Notes to Statutory Financial Statements<br>December 31, 2024, 2023 and 2022<br>(Dollars in thousands)

The following table presents investments in loan-backed and structured securities, for which an OTTI has not been recognized in earnings and which were in an unrealized loss position at December 31:

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **Less than 12 months** | **Less than 12 months** | **12 months or longer** | **12 months or longer** | **Total** | **Total** |
|  | **NAIC**<br> **estimated**<br> **fair value** | **Unrealized**<br> **losses** | **NAIC**<br> **estimated**<br> **fair value** | **Unrealized**<br> **losses** | **NAIC**<br> **estimated**<br> **fair value** | **Unrealized**<br> **losses** |
| **2024** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Industrial and miscellaneou | $73575 | (967) | 499183 | (35374) | 572758 | (36341) |
| **2023** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Industrial and miscellaneou | $43684 | (580) | 639888 | (60195) | 683572 | (60775) |

---

*<u>Current Year Evaluation</u>*

Total unrealized losses increased from December 31, 2023 to December 31, 2024 due mainly to the increase in intermediate term interest rates during the year. The Company has concluded that the majority of its securities in an unrealized loss position as of December 31, 2024 and 2023 reflect temporary fluctuations in economic factors (including interest related declines) that are not indicative of OTTI due to the Company's ability and intent to hold these investments until recovery of estimated fair value or amortized cost, and for equity investments, anticipate a forecasted recovery in a reasonable period of time. The Company has recorded OTTI losses when necessary on securities that the Company has deemed as being indicative of OTTI.

*Mortgage Loans*

 

Mortgage loans consist of commercial and residential mortgage loans originated in the United States. Mortgage loans are collateralized by the underlying properties. Collateral on mortgage loans must meet or exceed 110% of the loan at the time the loan is made. The carrying amounts of the total mortgage loan portfolio as of December 31, 2024 and 2023 were:

---

| | | |
|:---|:---|:---|
|  | **2024** | **2023** |
| Mortgage loans |  |  |
| &nbsp;&nbsp;&nbsp;Commercial mortgage loans | $1227412 | 1197158 |
| &nbsp;&nbsp;&nbsp;Residential mortgage loans | 442260 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total carrying value | $1669672 | 1197158 |

---

**AUGUSTAR LIFE INSURANCE COMPANY**

(A Wholly Owned Subsidiary of Constellation Insurance, Inc.)

Notes to Statutory Financial Statements<br>December 31, 2024, 2023 and 2022<br>(Dollars in thousands)

The minimum and maximum gross lending rates for mortgage loans for the years ended December 31 were:

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Commercial** | **Commercial** | **Residential** | **Residential** |
|  | **2024** | **2023** | **2024** | **2023** |
| Minimum | 3.0% | 5.2% | 5.0% | —% |
| Maximum | 7.5 | 7.3 | 11.0 |  |

---

*<u>Concentration of Credit Risk</u>*

The Company diversifies its mortgage loan portfolio by both geographic region and property type to reduce concentration risk. The Company's portfolio is collateralized by properties located in the United States. At December 31, 2024 and 2023, the distribution of the mortgage loan portfolio by property type and geographic location was as follows:

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **2024** | **2024** | **2023** | **2023** |
|  | **Carrying Value** | **% of Total** | **Carrying Value** | **% of Total** |
| **Property Type:** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Industrial | $227560 | 13.6% | 236227 | 19.7% |
| &nbsp;&nbsp;&nbsp;Office buildings | 130822 | 7.8% | 134274 | 11.2% |
| &nbsp;&nbsp;&nbsp;Retail facilities | 544785 | 32.6% | 470428 | 39.3% |
| &nbsp;&nbsp;&nbsp;Apartment buildings | 185468 | 11.1% | 172232 | 14.4% |
| &nbsp;&nbsp;&nbsp;Hotels | 5306 | 0.3% | 6306 | 0.5% |
| &nbsp;&nbsp;&nbsp;Other | 133471 | 8.1% | 177691 | 14.9% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total commerical | 1227412 | 73.5% | 1197158 | 100.0% |
| &nbsp;&nbsp;&nbsp;Residential | 442260 | 26.5% |  | —% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total | $1669672 | 100.0% | 1197158 | 100.0% |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **2024** | **2024** | **2023** | **2023** |
|  | **Carrying Value** | **% of Total** | **Carrying Value** | **% of Total** |
| **Geographic Location:** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Central | $591280 | 35.4% | 534989 | 44.7% |
| &nbsp;&nbsp;&nbsp;Pacific | 377083 | 22.6% | 238460 | 19.9% |
| &nbsp;&nbsp;&nbsp;Mid Atlantic | 178354 | 10.7% | 107800 | 9.0% |
| &nbsp;&nbsp;&nbsp;Mountain | 129892 | 7.8% | 88174 | 7.4% |
| &nbsp;&nbsp;&nbsp;South Atlantic | 380450 | 22.8% | 225959 | 18.9% |
| &nbsp;&nbsp;&nbsp;New England | 9784 | 0.6% | 1776 | 0.1% |
| &nbsp;&nbsp;&nbsp;Other | 2829 | 0.2% |  | —% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total | $1669672 | 100.0% | 1197158 | 100.0% |

---

**AUGUSTAR LIFE INSURANCE COMPANY**

(A Wholly Owned Subsidiary of Constellation Insurance, Inc.)

Notes to Statutory Financial Statements<br>December 31, 2024, 2023 and 2022<br>(Dollars in thousands)

*<u>Commercial Mortgage Loans</u>*

The Company performs an annual performance review of the commercial mortgage loan portfolio and assigns a rating based on the property's loan-to-value ("LTV"), age, mortgage debt service coverage ("DSC") and occupancy. This analysis helps identify loans that may experience difficulty. If a loan is not paying in accordance with contractual terms, it is placed on a watch list and monitored through inspections and contact with the property's local representative. In addition, as part of portfolio monitoring, the Company physically inspected nearly 100% of the properties in the portfolio. The LTV and DSC ratios are applied consistently across the entire commercial mortgage loan portfolio.

The following table summarizes the commercial mortgage loan portfolio, net of allowance, LTV ratios and DSC ratios using available data as of December 31. The ratios are updated as information becomes available.

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| | **DSC** | **DSC** | **DSC** | **DSC** | **DSC** | **DSC** | **DSC** |
| <br>**LTV** | **Greater than<br> 2.0x** | **1.8x to <br> 2.0x** | **1.5x to <br> 1.8x** | **1.2x to <br> 1.5x** | **1.0x to <br> 1.2x** | **Less than <br> 1.0x** | **Total** |
| **2024** |  |  |  |  |  |  |  |
| 0% - 50% | $313329 | 62147 | 103555 | 84352 | 13546 | 16555 | 593484 |
| 50% - 60% | 26017 | 6304 | 89494 | 66835 | 43310 | 12917 | 244877 |
| 60% - 70% | 29497 | 11526 | 35609 | 86164 | 46264 | 903 | 209963 |
| 70% - 80% |  |  | 6221 | 35658 | 34185 | 1209 | 77273 |
| 80% and greater |  |  | 4654 | 15032 | 58272 | 23857 | 101815 |
| Total | $368843 | 79977 | 239533 | 288041 | 195577 | 55441 | 1227412 |
| **2023** |  |  |  |  |  |  |  |
| 0% - 50% | $269493 | 66764 | 142117 | 127468 | 56480 | 7813 | 670135 |
| 50% - 60% | 57928 | 20398 | 63494 | 91124 | 35612 | 11983 | 280539 |
| 60% - 70% | 933 |  | 34036 | 91254 | 24272 |  | 150495 |
| 70% - 80% |  |  | 6395 | 9420 | 22032 | 9417 | 47264 |
| 80% and greater |  |  |  | 12723 | 17008 | 18994 | 48725 |
| Total | $328354 | 87162 | 246042 | 331989 | 155404 | 48207 | 1197158 |

---

LTV and DSC ratios are measures frequently used in commercial real estate to determine the quality of a mortgage loan. The LTV ratio is a comparison between the current loan balance and the value assigned to the property and is expressed as a percentage. If the LTV is greater than 100%, this would indicate that the loan amount exceeds the value of the property. It is preferred that the LTV be less than 100%. The Company's corporate policy directs that the LTV on new mortgages not exceed 75% for standard mortgages. The maximum percentage of any one loan to the value of security at the time of the loan, exclusive of insured or guaranteed or purchase money mortgages, was 75% in 2024 and 2023.

The DSC ratio compares the property's net operating income to its mortgage debt service payments. If the debt service coverage ratio is less than 1.0x, this would indicate that the property is not generating enough income after expenses to cover the mortgage payment. Therefore, a higher debt service coverage ratio could indicate a better quality loan.

**AUGUSTAR LIFE INSURANCE COMPANY**

(A Wholly Owned Subsidiary of Constellation Insurance, Inc.)

Notes to Statutory Financial Statements<br>December 31, 2024, 2023 and 2022<br>(Dollars in thousands)

*<u>Residential Mortgage Loans</u>*

The Company performs an annual performance review of the domestic residential mortgage loan portfolio. For residential mortgage loans, the Company's primary quality indicator is whether the loan is performing or nonperforming. For Residential Mortgage Loans nonperforming is defined as those loans that are 60 or more days past due/or in nonaccrual status. Generally nonperforming residential mortgage loans have a higher risk of experiencing a credit loss.

The following table summarizes the residential mortgage loan portfolio, net of allowance, performing and nonperforming positions which was last updated as of December 31:

---

| | | |
|:---|:---|:---|
|  | **2024** | **2023** |
| Residential mortgage loans |  |  |
| &nbsp;&nbsp;&nbsp;Performing | $442260 |  |
| &nbsp;&nbsp;&nbsp;Nonperforming |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total | $442260 |  |

---

The maximum percentage of any one loan to the value of security at the time of the loan, exclusive of insured or guaranteed or purchase money mortgages, was 90% in 2024.

*<u>Mortgage Loan Aging</u>*

The table below depicts the mortgage loan portfolio exposure of the remaining balances (which equal the Company's recorded investment), by type, as of December 31:

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **30-59 days**<br> **past due** | **60-89 days**<br> **past due** | **90 days**<br> **or more**<br> **past due** | **Total**<br> **past due** | **Current** | **Total** | **Recorded**<br> **investment >**<br> **90 days and**<br> **accruing** |
| 2024 |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Commercial | $— |  |  |  | 1227412 | 1227412 |  |
| &nbsp;&nbsp;&nbsp;Residential |  |  |  |  | 442260 | 442260 |  |
| &nbsp;&nbsp;&nbsp;Total | $— |  |  |  | 1669672 | 1669672 |  |
| 2023 |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Commercial | $— |  |  |  | 1197158 | 1197158 |  |
| &nbsp;&nbsp;&nbsp;Residential |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Total | $— |  |  |  | 1197158 | 1197158 |  |

---

**AUGUSTAR LIFE INSURANCE COMPANY**

(A Wholly Owned Subsidiary of Constellation Insurance, Inc.)

Notes to Statutory Financial Statements<br>December 31, 2024, 2023 and 2022<br>(Dollars in thousands)

*<u>Performance, Impairment and Foreclosures</u>*

The Company had no mortgage loans in the process of foreclosure at December 31, 2024 or 2023. There were no mortgage loan write-downs in 2024, 2023 or 2022. The Company did not have an allowance for credit losses at December 31, 2024 or 2023.

Commercial mortgage loans in foreclosure and mortgage loans considered to be impaired as of the Statutory Statements of Admitted Assets, Liabilities, and Capital and Surplus date are placed on a nonaccrual status if the payments are not current. Interest received on nonaccrual status mortgage loans is included in net investment income in the period received.

Residential mortgage loans are placed on nonaccrual status once management believes the collection of accrued interest is doubtful. Once residential mortgages are classified as nonaccrual loans, interest income is recognized under the cash basis.

The Company had no mortgage loans on nonaccrual status as of December 31, 2024 or 2023.

The Company did not have any significant troubled debt restructurings of mortgage loans during 2024, 2023 or 2022.

The Company had no recorded investments in, or unpaid principal balance of, impaired commercial loans at December 31, 2024 or 2023.

No mortgages were sold to CII in 2024, 2023 or 2022.

The Company has a mortgage loan receivable from CII of $18,107 and $19,053 as of December 31, 2024 and 2023, respectively.

The Company has other financing receivables with contractual maturities of one year or less such as reinsurance recoverables and premiums receivables. The Company does not record a valuation allowance for these items since the Company has not had any significant collection issues related to these types of receivables. The Company writes off the receivable if it is deemed to be uncollectible.

*Securities Lending*

 

As of December 31, 2024 and 2023, the Company received $0 and $162,366, respectively, of cash collateral on securities lending. The cash collateral is invested in short-term investments, which are recorded in Securities lending reinvested collateral assets on the Statutory Statements of Admitted Assets, Liabilities, and Capital and Surplus with a corresponding liability of payable for securities lending to account for the Company's obligation to return the collateral. The Company had not received any non-cash collateral on securities lending as of December 31, 2024 and 2023. The estimated fair value of loaned securities was $0 and $157,614 as of December 31, 2024 and 2023, respectively.

**AUGUSTAR LIFE INSURANCE COMPANY**

(A Wholly Owned Subsidiary of Constellation Insurance, Inc.)

Notes to Statutory Financial Statements<br>December 31, 2024, 2023 and 2022<br>(Dollars in thousands)

*Insurer Self-Certified Securities*

 

The following represents securities for which the Company does not have all the information required for the NAIC to provide an NAIC designation, but for which the Company is receiving timely payments of principal and interest. These securities are referred to as "5GI Securities."

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **Number of 5GI Securities** | **Number of 5GI Securities** | **Aggregate BACV** | **Aggregate BACV** | **Aggregate Fair Value** | **Aggregate Fair Value** |
|  | **2024** | **2023** | **2024** | **2023** | **2024** | **2023** |
| Bonds | $2 | 1 | 1750 | 1000 | 1750 | 1000 |

---

*Net Realized Capital Gains (Losses) and Change in Unrealized Capital Gains (Losses)*

 

The following is a summary of realized capital gains (losses) and the change in unrealized capital gains (losses), including realized losses for OTTI of investments, for the years ended December 31:

---

| | | | |
|:---|:---|:---|:---|
|  | **Realized <br> gains (losses)** | **Change in <br> unrealized <br> gains (losses)** | **Total**<br> **investment<br> gains (losses)** |
| **2024** |  |  |  |
| Bonds | $21176 | (2) | 21174 |
| Preferred stocks |  | 1 | 1 |
| Common stocks |  | 158575 | 158575 |
| Derivative instruments<sup>1</sup> | 663 | 25013 | 25676 |
| Other | (89) | 458 | 369 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total | 21750 | 184045 | 205795 |
| Less amount credited to interest maintenance reserve | (13638) |  | (13638) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net gains before tax | 35388 | 184045 | 219433 |
| Taxes on investment losses/gains | (1028) | 9 | (1019) |
| Admitted deferred tax asset |  | (9) | (9) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net gains after tax | $34360 | 184045 | 218405 |

---

<sup>1</sup> Amount is net of funds withheld reinsurance activity

**AUGUSTAR LIFE INSURANCE COMPANY**

(A Wholly Owned Subsidiary of Constellation Insurance, Inc.)

Notes to Statutory Financial Statements<br>December 31, 2024, 2023 and 2022<br>(Dollars in thousands)

---

| | | | |
|:---|:---|:---|:---|
|  | **Realized <br> gains (losses)** | **Change in <br> unrealized <br> gains (losses)** | **Total**<br> **investment<br> gains (losses)** |
| **2023** |  |  |  |
| Bonds | $(18807) | (18) | (18825) |
| Preferred stocks |  | 171 | 171 |
| Common stocks | 4245 | 22420 | 26665 |
| Derivative instruments<sup>1</sup> |  | (21471) | (21471) |
| Other | (217) | (12183) | (12400) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total | (14779) | (11081) | (25860) |
| Less amount credited to interest maintenance reserve | (14338) |  | (14338) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net losses before tax | (441) | (11081) | (11522) |
| Taxes on investment losses/gains | (887) | 12 | (875) |
| Admitted deferred tax asset |  | (12) | (12) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net losses after tax | $(1328) | (11081) | (12409) |

---

<sup>1</sup> Amount is net of funds withheld reinsurance activity

---

| | | | |
|:---|:---|:---|:---|
|  | **Realized <br> gains (losses)** | **Change in <br> unrealized <br> gains (losses)** | **Total**<br> **investment<br> gains (losses)** |
| **2022** |  |  |  |
| Bonds | $(18950) | (5) | (18955) |
| Preferred stocks |  | (605) | (605) |
| Common stocks | 60 | 44048 | 44108 |
| Derivative instruments<sup>1</sup> | (14168) | 5418 | (8750) |
| Other | 2 | 25544 | 25546 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total | (33056) | 74400 | 41344 |
| Less amount credited to interest maintenance reserve | (15281) |  | (15281) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net gains (losses) before tax | (17775) | 74400 | 56625 |
| Taxes on investment losses/gains | (3224) | (840) | (4064) |
| Admitted deferred tax asset |  | 840 | 840 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net gains (losses) after tax | $(20999) | 74400 | 53401 |

---

<sup>1</sup> Amount is net of funds withheld reinsurance activity

Realized capital gains and losses, net of tax, for all types of bonds that result from changes in the overall level of interest rates are credited or charged to the IMR, and these capital gains or losses are amortized into income over the remaining period of time based on the original maturity date of the bond sold.

**AUGUSTAR LIFE INSURANCE COMPANY**

(A Wholly Owned Subsidiary of Constellation Insurance, Inc.)

Notes to Statutory Financial Statements<br>December 31, 2024, 2023 and 2022<br>(Dollars in thousands)

Realized capital losses on investments, as shown in the tables above, include write-downs for OTTI of $53, $219 and $3,126, for the years ended December 31, 2024, 2023 and 2022, respectively. As of December 31, 2024, securities with a carrying value of $11,339, which had a cumulative write-down of $7,639 due to OTTI, remained in the Company's investment portfolio.

Included in the write-downs for OTTI are write-downs for OTTI on loan-backed and structured securities of $53, $219 and $153 for 2024, 2023 and 2022, respectively. The table below lists each security that recognized an OTTI in 2024 due to the fact that the present value of the cash flows expected to be collected was less than the amortized cost basis of the securities:

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **CUSIP** | **Book/adjusted<br> carrying value<br> amortized cost<br> before current<br> period OTTI** | **Projected <br> cash flows** | **Recognized <br>OTTI in <br> current <br> period** | **Amortized <br> cost after<br> OTTI** | **Fair value** | **Date of<br> financial<br> statement<br> when<br> reported** |
| 12668AMN2 | $9 | 8 | 2 | 8 | 7 | 12/31/2024 |
| 759950CU0 | 2241 | 2190 | 51 | 2190 | 2216 | 12/31/2024 |
| Total | $2250 | 2198 | 53 | 2198 | 2223 |  |

---

*<u>Sales of Bonds</u>*

 

Proceeds from sales of investments in bonds, excluding calls, during 2024, 2023 and 2022 were $1,692,416, $528,084 and $784,360, respectively. Gross gains of $39,699, $5,286 and $5,228 and gross losses of $18,087, $23,880 and $21,323 were realized on those transactions in 2024, 2023 and 2022, respectively.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(7)** **Derivative Financial Instruments** 

The Company enters into derivative contracts to economically hedge guarantees on riders for certain insurance contracts and to replicate otherwise permissible investments. Although these contracts do not qualify for hedge accounting or have not been designated in hedging relationships by the Company, they provide the Company with an economic hedge, which is used as part of its overall risk management strategy. The Company enters into equity futures, currency futures, equity index put options, equity index call options, equity swaps and interest rate swaptions to economically hedge liabilities embedded in certain variable annuity products, such as the GMAB, GMWB, GMIB and GLWB, and in fixed indexed annuity products.

**AUGUSTAR LIFE INSURANCE COMPANY**

(A Wholly Owned Subsidiary of Constellation Insurance, Inc.)

Notes to Statutory Financial Statements<br>December 31, 2024, 2023 and 2022<br>(Dollars in thousands)

The following tables summarize the carrying value and notional amounts of the Company's derivative financial instruments as of December 31:

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Assets** | **Assets** | **Liabilities** | **Liabilities** |
|  | **Carrying** <br> **value\*** | **Notional <br> amount** | **Carrying** <br> **value\*\*** | **Notional <br> amount** |
| **2024** |  |  |  |  |
| Equity futures | $13339 | 423796 |  |  |
| Equity puts | 19146 | 422381 |  |  |
| Equity index call options | 143260 | 5097957 |  |  |
| Forwards |  | 34879 |  |  |
| Forwards - replication |  | 1014100 |  |  |
| Swaps - replication | 16052 | 125000 |  |  |
| &nbsp;&nbsp;&nbsp;Total | $191797 | 7118113 |  |  |
| **2023** |  |  |  |  |
| Currency futures | $— |  | 17280 | 503280 |
| Equity puts | 19313 | 376824 |  |  |
| Equity index call options | 40271 | 2038093 |  |  |
| Currency swap | 1302 | 9038 |  |  |
|  | $60886 | 2423955 | 17280 | 503280 |

---

\* Included in derivatives

\*\* Included in other liabilities

*Credit Risk*

The Company may be exposed to credit-related losses in the event of nonperformance by counterparties to derivative financial instruments.

Because exchange traded futures are affected through regulated exchanges, and positions are marked to market on a daily basis, the Company has minimal exposure to credit-related losses in the event of nonperformance by counterparties to such derivative instruments. The Company manages its credit risk related to over-the-counter derivatives by only entering into transactions with creditworthy counterparties with long-standing performance records.

See Note 13 for additional details related to credit risks associated with reinsurance agreements.

For equity futures and currency futures, cash or an acceptable security is posted to the margin account whenever the Company has open derivatives positions to meet the initial margin maintenance requirement. Additional cash or securities are posted to the account if the margin balance is less than the maintenance margin requirement due to market movements. Conversely, the Company can request funds back if the Company has a margin surplus greater than the maintenance requirement.

**AUGUSTAR LIFE INSURANCE COMPANY**

(A Wholly Owned Subsidiary of Constellation Insurance, Inc.)

Notes to Statutory Financial Statements<br>December 31, 2024, 2023 and 2022<br>(Dollars in thousands)

*RSATs*

 

Bond forwards are paired with other investment grade bonds in RSATs to generate the return and price risk of long-dated fixed income securities.

Credit default swaps are paired with investment grade bonds in RSATs to generate the return and price risk of long dated corporate bonds.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(8)** **Deferred and Uncollected Life Insurance Premiums** 

Deferred and uncollected life insurance premiums are included in Premiums and other considerations deferred and uncollected in the Company's Statutory Statements of Admitted Assets, Liabilities, and Capital and Surplus. The table below summarizes these deferred and uncollected life insurance premiums, gross and net of loading for the years ended December 31:

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **2024** | **2024** | **2023** | **2023** |
|  | **Gross** | **Net of**<br> **loading** | **Gross** | **Net of**<br> **loading** |
| Ordinary new business | $272 | 36 | 421 | 40 |
| Ordinary renewal | 3288 | 2529 | 2996 | 2361 |
| &nbsp;&nbsp;&nbsp;Total | $3560 | 2565 | 3417 | 2401 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(9)** **Separate Accounts** 

The Company utilizes separate accounts to record and account for assets and liabilities for particular lines of business and/or transactions. For the current reporting year, the Company reported assets and liabilities from variable individual annuities and variable group annuities.

In accordance with the State of Ohio procedures on approving items within the separate account, the separate account classification of the product is supported by the Ohio Statute 3907.15.

As of December 31, 2024 and 2023, the Company's separate account statement included legally insulated assets of $13,085,072 and $13,876,582, respectively. The assets legally insulated from the general account as of December 31, are attributed to the following:

---

| | | |
|:---|:---|:---|
|  | **2024** | **2023** |
| Variable individual annuities | $12703465 | 13436712 |
| Variable group annuities | 320213 | 373187 |
| Variable immediate annuities | 61394 | 66683 |
| &nbsp;&nbsp;&nbsp;Total | $13085072 | 13876582 |

---

At December 31, 2024 and 2023, there were no separate account securities lending arrangements.

**AUGUSTAR LIFE INSURANCE COMPANY**

(A Wholly Owned Subsidiary of Constellation Insurance, Inc.)

Notes to Statutory Financial Statements<br>December 31, 2024, 2023 and 2022<br>(Dollars in thousands)

In accordance with the products/transactions recorded within the separate account, some separate account liabilities are guaranteed by the general account. In accordance with the guarantees provided, if the investment proceeds are insufficient to cover the rate of return guaranteed for the product, the policyholder proceeds will be remitted by the general account.

As of December 31, 2024 and 2023, the general account of the Company had a maximum guarantee for separate account liabilities of $769 and $1,300, respectively.

To compensate the general account for the risk taken, the separate account has paid risk charges as follows for the past five years:

---

| | |
|:---|:---|
|  | **Risk <br> charges** |
| 2024.0 | $196109 |
| 2023.0 | 203654 |
| 2022.0 | 208582 |
| 2021.0 | 216358 |
| 2020.0 | 223002 |

---

As of December 31, 2024, 2023 and 2022, the general account of the Company had paid $151,273, $169,021 and $145,447, respectively, towards separate account guarantees.

The Company does not guarantee a return of the contract holders' separate account. Information regarding the nonguaranteed separate accounts of the Company is as follows as of and for the years ended December 31:

---

| | | | |
|:---|:---|:---|:---|
|  | **2024** | **2023** | **2022** |
| Premiums, considerations or deposits at year end | $60457 | 72466 | 138963 |

---

**AUGUSTAR LIFE INSURANCE COMPANY**

(A Wholly Owned Subsidiary of Constellation Insurance, Inc.)

Notes to Statutory Financial Statements<br>December 31, 2024, 2023 and 2022<br>(Dollars in thousands)

---

| | | |
|:---|:---|:---|
|  | **2024** | **2023** |
| Reserves at year end for accounts with assets at: |  |  |
| &nbsp;&nbsp;&nbsp;Market value | $12932504 | 13699141 |
| &nbsp;&nbsp;&nbsp;Amortized cost | 142981 | 155471 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total reserves | $13075485 | 13854612 |
| By withdrawal characteristics: |  |  |
| &nbsp;&nbsp;&nbsp;Subject to discretionary withdrawal: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;With market value adjustment | $— |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;At book value without market value adjustment and with current surrender charge of 5% or more |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;At market value | 13024043 | 13810755 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;At book value without market value adjustment and with current surrender charge of less than 5% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Subtotal | 13024043 | 13810755 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Not subject to discretionary withdrawal | 51442 | 43857 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total reserves | $13075485 | 13854612 |

---

The following is a reconciliation of net transfers from separate accounts for the years ended December 31:

---

| | | | |
|:---|:---|:---|:---|
|  | **2024** | **2023** | **2022** |
| Transfers as reported in the summary of operations of the Separate Accounts Statement: |  |  |  |
| &nbsp;&nbsp;&nbsp;Transfers to separate accounts | $60546 | 72678 | 138989 |
| &nbsp;&nbsp;&nbsp;Transfers from separate accounts | 2447045 | 1919703 | 1787425 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net transfers from separate accounts before reconciling adjustments | (2386499) | (1847025) | (1648436) |
| Reconciling adjustments: |  |  |  |
| &nbsp;&nbsp;&nbsp;Processing income | (89) | (212) | (27) |
| &nbsp;&nbsp;&nbsp;CARVM allowance on reinsurance assumed | 95993 | (400273) |  |
| &nbsp;&nbsp;&nbsp;Other net | 1 | 7 | 12 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net transfers from separate accounts | $(2290594) | (2247503) | (1648451) |

---

**AUGUSTAR LIFE INSURANCE COMPANY**

(A Wholly Owned Subsidiary of Constellation Insurance, Inc.)

Notes to Statutory Financial Statements<br>December 31, 2024, 2023 and 2022<br>(Dollars in thousands)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(10)** **Reserves for Future Policy Benefits** 

The reserves for future policy benefits are comprised of liabilities for life policies and contracts, accident and health (disability) policies, and annuity and other deposit funds including riders.

Associated with the demutualization transaction discussed in Note 17, the Company was obligated by Constellation Insurance, LP ("Constellation") to effectuate the increase in eligible member's policy account value as consideration for their membership interests. Consideration to extinguish membership interest is included in expense of the insurance company. As such, during 2022, the Company recorded the increase in policyholder account value as an expense in the Statutory Statements of Operations. Constellation was required to reimburse the Company for effectuating the increase in account value for eligible member policies through a capital contribution, as defined in the demutualization agreement (see Note 17).

The liability for future policy benefits for traditional life products has been established based upon the net level premium method using interest rates varying from 2.0% to 6.0%.

Reserves are calculated using withdrawal, discount, mortality, and morbidity rates. Withdrawal rates vary by issue age, type of coverage and policy duration and are based on Company experience. Mortality and morbidity rates which are guaranteed within insurance contracts are based on published tables and Company experience.

As discussed in Note 3, the Company has five main types of rider benefits offered with individual variable annuity contracts: GMDBs, GMIBs, GLWBs, GMABs and GMWBs. The Company also issues fixed indexed annuity contracts with a GLWB rider.

*Variable Annuity Riders*

 

*<u>GMDB Riders</u>*

Certain variable annuity contracts include GMDB riders with the base contract and offer additional death and income benefits through riders that can be added to the base contract. These GMDB riders typically provide that, upon the death of the annuitant, the beneficiaries could receive an amount in excess of the contract value. The GMDB rider benefit could be equal to the premiums paid into the contract, the highest contract value as of a particular time, e.g., every contract anniversary, or the premiums paid into the contract times an annual interest factor. The Company assesses a charge for the GMDB riders and prices the base contracts to allow the Company to recover a charge for any built-in death benefits.

*<u>GMIB Riders</u>*

Certain variable annuity contracts include GMIB riders with the base contract. These riders allow the policyholder to annuitize the contract after ten years and to receive a guaranteed minimum monthly income for life. The amount of the payout is based upon a guaranteed income base that is typically equal to the greater of the premiums paid increased by 5% annually (6% for riders sold before May 2009) or the highest contract value on any contract anniversary. In some instances, based upon the age of the annuitant, the terms of this rider may be less favorable for the contract purchaser. The amount of the monthly income is tied to annuitization tables that are built into the GMIB rider. In the event that the policyholder could receive a higher monthly income by annuitization based upon the Company's current annuitization rates, the annuitant will automatically receive the higher monthly income. This means that the contract value could be significantly less than the guaranteed income base, but it might not provide any benefit to the policyholder or any cost to the Company. In addition, some policyholders may not be willing to give up access to their contract value that occurs with annuitization under the rider. Effective May 1, 2010, the Company discontinued offering the GMIB rider.

**AUGUSTAR LIFE INSURANCE COMPANY**

(A Wholly Owned Subsidiary of Constellation Insurance, Inc.)

Notes to Statutory Financial Statements<br>December 31, 2024, 2023 and 2022<br>(Dollars in thousands)

The Company's GMIB and GMDB riders issued prior to April 1, 2008 are reinsured with a non-affiliated reinsurer up to a certain level of coverage. The Company has reinsurance agreements in place with an affiliate for reinsurance coverage on the amounts in excess of the underlying non-affiliated reinsurance. Effective April 1, 2019, the Company has reinsured all amounts in excess of the non-affiliated reinsurance to an affiliate, SUNR.

*<u>GLWB Riders</u>*

The GLWB rider allows the owner to take withdrawals from the contract at a guaranteed percentage of the GLWB base every year even if the contract value goes to zero. Such guaranteed withdrawals may start any time after the annuitant reaches age 59 1∕2. The percentage withdrawal amount guaranteed increases if the annuitant attains a higher age band before the owner starts taking withdrawals. In some versions of GLWB riders sold in 2013 and later, there is a guaranteed minimum percentage withdrawal amount for the first fifteen years of the contract; if the policyholder's account value goes to zero subsequent to the fifteen year guarantee period, the percentage withdrawal amount is then calculated per a specified formula based on the ten year treasury rate from the preceding ninety calendar days, with the calculated treasury linked rate subject to a specified cap and floor.

At policy inception, the GLWB base is set at the amount of the purchase payments, and it is increased by the amount of future purchase payments. It increases (roll-up) by up to 8% simple interest every year for the first ten years, as long as no withdrawal is made. If a withdrawal is made in any year during the first ten years, there is no roll-up at all for that year. If the contract value exceeds the GLWB base on any contract anniversary prior to the first contract anniversary after the annuitant reaches age 95, the GLWB base resets to the contract value and a new ten-year roll-up period begins.

The GLWB may also contain a step-up feature which preserves potential market gain by ratcheting up to the contract value, if higher, on each anniversary. If the contract has both a roll-up and step-up feature, the GLWB base will be the greater of 1) the GLWB base on the previous anniversary plus any additional purchase payments; 2) the step-up base; or 3) the roll-up base.

In addition to the roll-up feature, some versions of the GLWB rider also provide for a top-off of the GLWB base at the end of the tenth contract year, subject to attained age restrictions where applicable if the owner has not made any withdrawals in the first ten years. The top-off is equal to 200% of the first-year purchase payments. Policyholders are eligible for only one top-off during the contractual term. A reset to the contract value does not start a new top-off period. A top-off will typically not occur if there is any reset in the first ten years.

**AUGUSTAR LIFE INSURANCE COMPANY**

(A Wholly Owned Subsidiary of Constellation Insurance, Inc.)

Notes to Statutory Financial Statements<br>December 31, 2024, 2023 and 2022<br>(Dollars in thousands)

The initial GLWB riders (issued May 1, 2010 through December 31, 2010) had a built-in death benefit. This death benefit is reduced dollar for dollar for withdrawals. It differs from most of the other death benefits that decline pro rata for withdrawals. Thus, when the contract value is less than the death benefit, withdrawals will reduce the death benefit under the GLWB rider by a smaller amount than the reduction for other death benefits.

The Company also offers single life and joint life versions of the GLWB rider. Under the joint life version, if the annuitant dies after the owner has started taking withdrawals, the surviving spouse may elect a spousal continuation under the rider and continue to receive the same payment. Under the single life version, the guaranteed amount that may be withdrawn could decline either because 1) the contract value is less than the GLWB base, and under the single life GLWB rider the contract value then becomes the new GLWB base and/or 2) the surviving spouse is in a different age band.

The GLWB riders issued beginning January 1, 2011, are offered by the Company in both single-life and joint-life versions. In conjunction with the second generation GLWB riders, the Company also began selling new death benefit riders in both single life and joint life versions.

*<u>GMAB Riders</u>*

Certain variable annuity contracts include a GMAB rider. On the eighth or tenth anniversary, depending on the version of the rider, the policyholder's account value will increase to the amount of the initial deposit if the account value at that anniversary is less than the initial deposit.

*<u>GMWB Riders</u>*

Certain variable annuity contracts include a GMWB rider, which is similar to the GMAB rider noted above, except the policyholder is allowed to make periodic withdrawals instead of waiting for the benefit in a lump sum at the end of the tenth year. The Company discontinued the sale of its GMWB rider in 2009. The activity associated with GMWB riders is included with GMAB riders and labeled "GMAB."

**AUGUSTAR LIFE INSURANCE COMPANY**

(A Wholly Owned Subsidiary of Constellation Insurance, Inc.)

Notes to Statutory Financial Statements<br>December 31, 2024, 2023 and 2022<br>(Dollars in thousands)

The following tables summarize the net amount at risk, net of reinsurance, for variable annuity contracts with guarantees invested in both general and separate accounts as of December 31 (note that most contracts contain multiple guarantees):

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **2024** | **2024** | **2024** | **2024** |
|  | **Death benefits** | **Living benefits** | **Living benefits** | **Living benefits** |
|  | **GMDB** | **GMIB** | **GLWB** | **GMAB** |
| **Return of net deposit** |  |  |  |  |
| Net amount at risk <sup>1</sup> | $161 |  |  |  |
| **Return of net deposits accrued at a stated rate** |  |  |  |  |
| Net amount at risk <sup>1</sup> | $702 |  |  |  |
| **Highest of return of net deposits accrued at a stated rate and return of highest anniversary value** |  |  |  |  |
| Net amount at risk <sup>1</sup> | $— |  |  |  |
| **Return of highest anniversary value** |  |  |  |  |
| Net amount at risk <sup>1</sup> | $2571 |  |  |  |
| **Total** |  |  |  |  |
| Net amount at risk <sup>1</sup> | $3434 |  |  |  |

---

<sup>1</sup> Death benefit net amount at risk and living benefit net amount at risk are not additive at the contract level.

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **2023** | **2023** | **2023** | **2023** |
|  | **Death benefits** | **Living benefits** | **Living benefits** | **Living benefits** |
|  | **GMDB** | **GMIB** | **GLWB** | **GMAB** |
| **Return of net deposit** |  |  |  |  |
| Net amount at risk <sup>1</sup> | $144 |  |  |  |
| **Return of net deposits accrued at a stated rate** |  |  |  |  |
| Net amount at risk <sup>1</sup> | $887 |  |  | 18 |
| **Highest of return of net deposits accrued at a stated rate and return of highest anniversary value** |  |  |  |  |
| Net amount at risk <sup>1</sup> | $— |  |  |  |
| **Return of highest anniversary value** |  |  |  |  |
| Net amount at risk <sup>1</sup> | $3655 |  |  |  |
| **Total** |  |  |  |  |
| Net amount at risk <sup>1</sup> | $4686 |  |  | 18 |

---

<sup>1</sup> Death benefit net amount at risk and living benefit net amount at risk are not additive at the contract level.

**AUGUSTAR LIFE INSURANCE COMPANY**

(A Wholly Owned Subsidiary of Constellation Insurance, Inc.)

Notes to Statutory Financial Statements<br>December 31, 2024, 2023 and 2022<br>(Dollars in thousands)

For guarantees of benefits that are payable in the event of death (GMDB), the net amount at risk is generally defined as the current guaranteed minimum death benefit in excess of the account balance as of the date of the Statement of Admitted Assets, Liabilities, and Capital and Surplus.

For benefit guarantees that are payable at annuitization (GMIB), the net amount at risk is generally defined as the present value of the minimum guaranteed annuity payments available to the contract holder, determined in accordance with the terms of the contract and best estimate assumptions, where applicable, in excess of the account balance as of the date of the Statement of Admitted Assets, Liabilities, and Capital and Surplus.

For benefit guarantees that are payable upon withdrawal (GLWB), the net amount at risk is generally defined as the present value of the current maximum guaranteed withdrawal available to or taken by the contract holder, determined in accordance with the terms of the contract and best estimate assumptions, where applicable, in excess of the account balance as of the date of the Statement of Admitted Assets, Liabilities, and Capital and Surplus.

For accumulation guarantees (GMAB), the net amount at risk is generally defined as the guaranteed minimum accumulation balance in excess of the account balance as of the date of the Statement of Admitted Assets, Liabilities, and Capital and Surplus.

All separate account assets associated with these contracts are invested in shares of various mutual funds offered by the Company and its sub advisors. Some riders require that separate account funds be invested in asset allocation models, managed volatility models, and/or have other investment restrictions. Net amount at risk represents the amount of death benefit in excess of the account balance that is subject to market fluctuations.

The Company did not transfer assets from the general account to the separate account for any of its variable annuity contracts during 2024, 2023 or 2022.

The following table summarizes account balances of variable annuity contracts with guarantees that were invested in separate accounts as of December 31:

---

| | | |
|:---|:---|:---|
|  | **2024** | **2023** |
| Mutual funds: |  |  |
| &nbsp;&nbsp;&nbsp;Bond | $3439526 | 3778592 |
| &nbsp;&nbsp;&nbsp;Equity | 8819339 | 9221695 |
| &nbsp;&nbsp;&nbsp;Money market | 453876 | 457905 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total | $12712741 | 13458192 |

---

The reserves on guaranteed riders are held in the general accounts, and there are no guaranteed separate accounts.

**AUGUSTAR LIFE INSURANCE COMPANY**

(A Wholly Owned Subsidiary of Constellation Insurance, Inc.)

Notes to Statutory Financial Statements<br>December 31, 2024, 2023 and 2022<br>(Dollars in thousands)

*Fixed Indexed Annuity Riders*

 

*<u>GLWB Riders</u>*

Certain fixed indexed annuity contracts include a GLWB rider. The GLWB rider allows the owner to take withdrawals from the contract at a guaranteed percentage of the GLWB base every year even if the contract value goes to zero. There are two versions of GLWB rider offered: a single life GLWB with the annuitant as the covered person, and a joint life GLWB with the annuitant and the annuitant's spouse as the covered persons.

The rider provides for a guaranteed payment of the maximum allowable withdrawal ("MAW") each index year during the lifetime withdrawal period. Such guaranteed withdrawals may start any time after the annuitant/youngest covered spouse reaches age 59 1∕2. The percentage withdrawal amount guaranteed increases if the annuitant/youngest covered spouse attains a higher age band before the guarantee is elected.

At the policy's initial sweep date, the GLWB base is set at the amount of the purchase payments. After the initial sweep date, the GLWB base will be the greater of the step-up GLWB base and the annual credit GLWB base. On each anniversary of the initial sweep date, except under excess withdrawal, the step-up GLWB base is equal to the greater of the GLWB base on the prior day, and the then current contract value, after deducting any applicable charges for the contract and credited interest. The annual credit base is the GLWB base just prior to the index year processing, plus the annual credit calculation base just prior to index processing, multiplied by an index or bonus credit rate. Upon a step-up, the annual credit calculation base will reset to the contract value at the time of step-up.

For the period from January 2, 2018 through April 6, 2018, and for the period from June 4, 2018 through September 7, 2018, in the state of California, the Company offered an exchange program, which provided certain variable annuity policyholders with a GMIB rider the opportunity to exchange the policy and associated rider for a fixed indexed annuity policy with an enhanced GLWB rider. The notable difference of the enhanced GLWB rider is the calculation of the initial GLWB benefit base. At the policy's initial sweep date, the GLWB base is set to equal the contract value on the sweep date multiplied by the GLWB enhancement percentage, which is set based on the ratio of GMIB benefit base to account value at the time of exchange. After the initial sweep date, the GLWB base will be the greater of the step-up GLWB base and the annual credit GLWB base.

The total account value, net of reinsurance, of the fixed indexed annuities was $0 and $593,260 as of December 31, 2024 and 2023, respectively. The account value, net of reinsurance, specific to the GLWB riders was $0 and $618 as of December 31, 2024 and 2023, respectively.

**AUGUSTAR LIFE INSURANCE COMPANY**

(A Wholly Owned Subsidiary of Constellation Insurance, Inc.)

Notes to Statutory Financial Statements<br>December 31, 2024, 2023 and 2022<br>(Dollars in thousands)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(11)** **Annuity Reserves and Deposit Liabilities by Withdrawal Characteristics** 

Annuity reserves and deposit liabilities by withdrawal characteristics are shown below as of December 31, 2024:

**Individual Annuities**

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **General <br> account** | **Separate <br> account <br> non-guaranteed** | **Total** | **% of Total** |
| Subject to discretionary withdrawal: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;With market value adjustment | $3657566 |  | 3657566 | 17.4% |
| &nbsp;&nbsp;&nbsp;At book value less surrender charge | 468010 |  | 468010 | 2.2% |
| &nbsp;&nbsp;&nbsp;At fair value\* |  | 12703466 | 12703466 | 60.6% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total with adjustment or at market value | 4125576 | 12703466 | 16829042 | 80.2% |
| At book value without adjustment | 813109 |  | 813109 | 3.9% |
| Not subject to discretionary withdrawal | 3308084 | 24310 | 3332394 | 15.9% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total, gross | 8246769 | 12727776 | 20974545 | 100.0% |
| Reinsurance ceded | 6307793 |  | 6307793 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total, net | $1938976 | 12727776 | 14666752 |  |
| Amount at book value less surrender charge that will move to at book value without adjustment in the year after the statement date | $5954 |  | 5954 |  |

---

\* Includes $12,703,466 of individual and variable deferred Annuity held in Separate Accounts that are surrenderable at market value less a surrender charge.

**AUGUSTAR LIFE INSURANCE COMPANY**

(A Wholly Owned Subsidiary of Constellation Insurance, Inc.)

Notes to Statutory Financial Statements<br>December 31, 2024, 2023 and 2022<br>(Dollars in thousands)

**Group Annuities**

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **General <br> account** | **Separate <br> account <br> non-guaranteed** | **Total** | **% of Total** |
| Subject to discretionary withdrawal: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;With market value adjustment | $48395 |  | 48395 | 9.3% |
| &nbsp;&nbsp;&nbsp;At book value less surrender charge |  |  |  | 0.0% |
| &nbsp;&nbsp;&nbsp;At fair value |  | 320212 | 320212 | 61.7% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total with adjustment or at market value | 48395 | 320212 | 368607 | 71.0% |
| At book value without adjustment |  |  |  | 0.0% |
| Not subject to discretionary withdrawal | 122908 | 27497 | 150405 | 29.0% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total, gross | 171303 | 347709 | 519012 | 100.0% |
| Reinsurance ceded |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total, net | $171303 | 347709 | 519012 |  |
| Amount at book value less surrender charge that will move to at book value without adjustment in the year after the statement date | $— |  |  |  |

---

**Deposit-Type Contracts**

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **General <br> account** | **Separate <br> account <br> non-guaranteed** | **Total** | **% of Total** |
| Subject to discretionary withdrawal: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;With market value adjustment | $— |  |  | 0.0% |
| &nbsp;&nbsp;&nbsp;At book value less surrender charge |  |  |  | 0.0% |
| &nbsp;&nbsp;&nbsp;At fair value |  |  |  | 0.0% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total with adjustment or at market value |  |  |  | 0.0% |
| At book value without adjustment | 22101 |  | 22101 | 2.5% |
| Not subject to discretionary withdrawal | 847405 |  | 847405 | 97.5% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total, gross | 869506 |  | 869506 | 100.0% |
| Reinsurance ceded | (1178) |  | (1178) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total, net | $870684 |  | 870684 |  |
| Amount at book value less surrender charge that will move to at book value without adjustment in the year after the statement date | $— |  |  |  |

---

**AUGUSTAR LIFE INSURANCE COMPANY**

(A Wholly Owned Subsidiary of Constellation Insurance, Inc.)

Notes to Statutory Financial Statements<br>December 31, 2024, 2023 and 2022<br>(Dollars in thousands)

The following is the reconciliation of annuity reserves and deposit liabilities as of December 31, 2024:

---

| | |
|:---|:---|
| Life, accident and health Annual Statement: |  |
| &nbsp;&nbsp;&nbsp;Annuities (excluding supplementary contracts with life contingencies), net | $2106413 |
| &nbsp;&nbsp;&nbsp;Supplementary contracts with life contingencies, net | 3866 |
| &nbsp;&nbsp;&nbsp;Deposit-type contracts | 870684 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Subtotal | 2980963 |
| Separate Accounts Annual Statement: |  |
| &nbsp;&nbsp;&nbsp;Annuities, net | 13075485 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total annuity reserves and deposit liabilities, net | $16056448 |

---

As of December 31, 2024, withdrawal characteristics of life actuarial reserves were as follows:

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **General account** | **General account** | **General account** | **Separate account - guaranteed <br> and non-guaranteed** | **Separate account - guaranteed <br> and non-guaranteed** | **Separate account - guaranteed <br> and non-guaranteed** |
|  | **Account <br> value** | **Cash value** | **Reserve** | **Account <br> value** | **Cash value** | **Reserve** |
| Subject to discretionary withdrawal, surrender values or policy loans: |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Term policies with cash value | $— |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Universal life | 759180 | 759180 | 761892 |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Universal life with secondary guarantees |  |  | 575 |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Indexed universal life with secondary guarantees |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Other permanent cash value life insurance | 4282100 | 4282100 | 4714200 |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Variable life |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Variable universal life |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Miscellaneous reserves |  |  | 4227 |  |  |  |
| Not subject to discretionary withdrawal or no cash values |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Term policies without cash value | XXX | XXX | 12796 | XXX | XXX |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Accidental death benefits | XXX | XXX |  | XXX | XXX |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Disability - active lives | XXX | XXX | 24700 | XXX | XXX |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Disability - disabled lives | XXX | XXX | 21362 | XXX | XXX |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Miscellaneous reserves | XXX | XXX | 154 | XXX | XXX |  |
| Total, gross | 5041280 | 5041280 | 5539906 |  |  |  |
| Reinsurance ceded | 4927368 | 4927368 | 4892272 |  |  |  |
| Total, net | $113912 | 113912 | 647634 |  |  |  |

---

**AUGUSTAR LIFE INSURANCE COMPANY**

(A Wholly Owned Subsidiary of Constellation Insurance, Inc.)

Notes to Statutory Financial Statements<br>December 31, 2024, 2023 and 2022<br>(Dollars in thousands)

The following is the reconciliation of life actuarial reserves as of December 31, 2024:

---

| | |
|:---|:---|
| Life, accident and health Annual Statement: |  |
| &nbsp;&nbsp;&nbsp;Life insurance, net | $647634 |
| Separate Accounts Annual Statement: |  |
| &nbsp;&nbsp;&nbsp;Life insurance, net |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total life reserves, net | $647634 |

---

Annuity reserves and deposit liabilities by withdrawal characteristics are shown below as of December 31, 2023:

**Individual Annuities**

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **General <br> account** | **Separate<br> account**<br> **non-guaranteed** | **Total** | **% of Total** |
| Subject to discretionary withdrawal: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;With market value adjustment | $1755060 |  | 1755060 | 8.8% |
| &nbsp;&nbsp;&nbsp;At book value less surrender charge | 106714 |  | 106714 | 0.5% |
| &nbsp;&nbsp;&nbsp;At fair value\* |  | 13436712 | 13436712 | 67.2% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total with adjustment or at market value | 1861774 | 13436712 | 15298486 | 76.5% |
| At book value without adjustment | 1017544 |  | 1017544 | 5.1% |
| Not subject to discretionary withdrawal | 3670484 | 20227 | 3690711 | 18.4% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total, gross | 6549802 | 13456939 | 20006741 | 100.0% |
| Reinsurance ceded | 4448316 |  | 4448316 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total, net | $2101486 | 13456939 | 15558425 |  |
| Amount at book value less surrender charge that will move to at book value without adjustment in the year after the statement date | $26956 |  | 26956 |  |

---

\* Includes $17,963,134 of individual and variable deferred Annuity held in Separate Accounts that are surrenderable at market value less a surrender charge.

**AUGUSTAR LIFE INSURANCE COMPANY**

(A Wholly Owned Subsidiary of Constellation Insurance, Inc.)

Notes to Statutory Financial Statements<br>December 31, 2024, 2023 and 2022<br>(Dollars in thousands)

**Group Annuities**

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **General<br> account** | **Separate<br> account <br> non-guaranteed** | **Total** | **% of Total** |
| Subject to discretionary withdrawal: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;With market value adjustment | $52026 |  | 52026 | 9.1% |
| &nbsp;&nbsp;&nbsp;At book value less surrender charge |  |  |  | 0.0% |
| &nbsp;&nbsp;&nbsp;At fair value |  | 373186 | 373186 | 65.3% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total with adjustment or at market value | 52026 | 373186 | 425212 | 74.4% |
| At book value without adjustment |  |  |  | 0.0% |
| Not subject to discretionary withdrawal | 121824 | 24486 | 146310 | 25.6% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total, gross | 173850 | 397672 | 571522 | 100.0% |
| Reinsurance ceded |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total, net | $173850 | 397672 | 571522 |  |
| &nbsp;&nbsp;&nbsp;Amount at book value less surrender charge that will move to at book value without adjustment in the year after the statement date | $— |  |  |  |

---

**Deposit-Type Contracts**

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **General<br> account** | **Separate<br> account <br> non-guaranteed** | **Total** | **% of Total** |
| Subject to discretionary withdrawal: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;With market value adjustment | $— |  |  | 0.0% |
| &nbsp;&nbsp;&nbsp;At book value less surrender charge |  |  |  | 0.0% |
| &nbsp;&nbsp;&nbsp;At fair value |  |  |  | 0.0% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total with adjustment or at market value |  |  |  | 0.0% |
| At book value without adjustment | 23836 |  | 23836 | 2.7% |
| Not subject to discretionary withdrawal | 861122 |  | 861122 | 97.3% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total, gross | 884958 |  | 884958 | 100.0% |
| Reinsurance ceded | (881) |  | (881) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total, net | $885839 |  | 885839 |  |
| Amount at book value less surrender charge that will move to at book value without adjustment in the year after the statement date | $— |  |  |  |

---

**AUGUSTAR LIFE INSURANCE COMPANY**

(A Wholly Owned Subsidiary of Constellation Insurance, Inc.)

Notes to Statutory Financial Statements<br>December 31, 2024, 2023 and 2022<br>(Dollars in thousands)

The following is the reconciliation of annuity reserves and deposit liabilities as of December 31, 2023:

---

| | |
|:---|:---|
| Life, accident and health Annual Statement: |  |
| &nbsp;&nbsp;&nbsp;Annuities (excluding supplementary contracts with life contingencies), net | $2271203 |
| &nbsp;&nbsp;&nbsp;Supplementary contracts with life contingencies, net | 4133 |
| &nbsp;&nbsp;&nbsp;Deposit-type contracts | 885839 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Subtotal | 3161175 |
| Separate Accounts Annual Statement: |  |
| &nbsp;&nbsp;&nbsp;Annuities, net | 13854611 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total annuity reserves and deposit liabilities, net | $17015786 |

---

As of December 31, 2023, withdrawal characteristics of life actuarial reserves were as follows:

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **General account** | **General account** | **General account** | **Separate account - guaranteed <br> and non-guaranteed** | **Separate account - guaranteed <br> and non-guaranteed** | **Separate account - guaranteed <br> and non-guaranteed** |
|  | **Account <br> value** | **Cash value** | **Reserve** | **Account <br> value** | **Cash value** | **Reserve** |
| Subject to discretionary withdrawal, surrender values or policy loans: |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Term policies with cash value | $— |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Universal life | 847804 | 847804 | 850430 |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Universal life with secondary guarantees |  |  | 539 |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Indexed universal life with secondary guarantees |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Other permanent cash value life insurance | 4346005 | 4346005 | 4834700 |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Variable life |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Variable universal life |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Miscellaneous reserves |  |  | 5663 |  |  |  |
| Not subject to discretionary withdrawal or no cash values |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Term policies without cash value | XXX | XXX | 12961 | XXX | XXX |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Accidental death benefits | XXX | XXX |  | XXX | XXX |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Disability - active lives | XXX | XXX | 26601 | XXX | XXX |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Disability - disabled lives | XXX | XXX | 20328 | XXX | XXX |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Miscellaneous reserves | XXX | XXX | 152 | XXX | XXX |  |
| Total, gross | 5193809 | 5193809 | 5751374 |  |  |  |
| Reinsurance ceded | 4527202 | 4527202 | 5081757 |  |  |  |
| Total, net | $666607 | 666607 | 669617 |  |  |  |

---

**AUGUSTAR LIFE INSURANCE COMPANY**

(A Wholly Owned Subsidiary of Constellation Insurance, Inc.)

Notes to Statutory Financial Statements<br>December 31, 2024, 2023 and 2022<br>(Dollars in thousands)

The following is the reconciliation of life actuarial reserves as of December 31, 2023:

---

| | |
|:---|:---|
| Life, accident and health Annual Statement: |  |
| &nbsp;&nbsp;&nbsp;Life insurance, net | $669617 |
| Separate Accounts Annual Statement: |  |
| &nbsp;&nbsp;&nbsp;Life insurance, net |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total life reserves, net | $669617 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(12)** **Unpaid Claim Reserves** 

The Company establishes unpaid claim reserves, which provide an estimated cost of paying claims made under individual disability accident and health policies. These reserves include estimates for claims that have been reported and claims that have been incurred but not reported. The amounts recorded for unpaid claim reserves are based on appropriate actuarial guidelines and techniques that represent the Company's best estimate based on current known facts and the actuarial guidelines. Accordingly, actual claim payouts may vary from present estimates.

The following table summarizes the disabled life unpaid claims for the years ended December 31:

---

| | | | |
|:---|:---|:---|:---|
|  | **2024** | **2023** | **2022** |
| Claim reserves, beginning of year | $7964 | 8485 | 8734 |
| &nbsp;&nbsp;&nbsp;Less reinsurance recoverables | (829) | (768) | (1137) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net claim reserves, beginning of year | 7135 | 7717 | 7597 |
| Claims paid related to: |  |  |  |
| &nbsp;&nbsp;&nbsp;Current year | 20 | 27 | (14) |
| &nbsp;&nbsp;&nbsp;Prior years | (1108) | (1567) | (1118) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total claims paid | (1088) | (1540) | (1132) |
| Incurred related to: |  |  |  |
| &nbsp;&nbsp;&nbsp;Current year's incurred | 622 | 968 | 789 |
| &nbsp;&nbsp;&nbsp;Current year's interest | 11 | 17 | 14 |
| &nbsp;&nbsp;&nbsp;Prior years' incurred | 258 | (337) | 127 |
| &nbsp;&nbsp;&nbsp;Prior years' interest | 289 | 310 | 322 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total incurred | 1180 | 958 | 1252 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net claim reserves, end of year | 7227 | 7135 | 7717 |
| Plus reinsurance recoverables | 528 | 829 | 768 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Claims reserves, end of year | $7755 | 7964 | 8485 |

---

**AUGUSTAR LIFE INSURANCE COMPANY**

(A Wholly Owned Subsidiary of Constellation Insurance, Inc.)

Notes to Statutory Financial Statements<br>December 31, 2024, 2023 and 2022<br>(Dollars in thousands)

The change in claim reserves and liabilities for claims incurred in prior years is the result of the general maturing process of claims, including the normal fluctuation resulting from the relatively small size of the block and continuing claim analysis.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(13)** **Reinsurance** 

The Company participates in reinsurance activities in order to limit losses, minimize exposure to significant risks and provide additional capacity for future growth. The Company routinely enters into reinsurance transactions with other insurance companies, third parties, affiliates and subsidiaries. This reinsurance involves either ceding certain risks to, or assuming risks from, other insurance companies. The Company's statutory financial statements reflect the effects of assumed and ceded reinsurance transactions.

*<u>External Reinsurance</u>*

For the Company's life insurance products, the Company cedes a percentage of the mortality or morbidity risk on a quota share basis or on an excess of retention basis. The Company also cedes risk associated with its disability and health insurance policies. Ceded premiums approximated 102.0%, 103.7% and 73.3% of gross earned life and accident and health premiums during 2024, 2023 and 2022, respectively.

For the Company's individual variable annuity products, the Company cedes the various living and death benefit riders, including GMDB and GMIB.

For the Company's fixed annuity products, the Company has coinsurance agreements in place to cede fixed annuity products sold between 2001 and 2006. Ceded amounts under these coinsurance agreements range from one-third to two-thirds of the business produced. Effective September 30, 2023, the Company recaptured certain ceded BOLI and SPDA blocks of business from an external reinsurer as part of a mandatory termination. The reinsurer held assets in trust to back the reserves associated with the SPDA block of business. At the time of recapture, the Company's reserves increased $51,049 and recorded a receivable from the trust for the same amount. No assets were held in trust related to the BOLI block business. At the time of recapture, the Company's BOLI reserves increased $584. The were no ceded reserves attributable to external fixed annuity coinsurance agreements of December 31, 2024 and 2023.

Effective July 1, 2019, the Company entered into a reinsurance agreement to cede, on a coinsurance basis, 100% of its retained inforce BOLI and Single Premium Deferred Annuity ("SPDA") blocks of business with a third party reinsurer licensed as an authorized reinsurer in the State of Ohio. As a result of the transaction, bonds carried at the amount of $1,554,453 were transferred to the reinsurer, resulting in a pre-tax realized gain of $126,291 for the year ended December 31, 2019. This transaction resulted in IMR of $109,964 being transferred to the reinsurer by the Company and a deferred reinsurance gain of $52,844, which was recorded in surplus at the contract's inception. Effective October 1, 2021, the contract was amended to include SPDA contracts ceded under an older reinsurance agreement. All activity prior to the amendment was accounted for under the old terms, and activity from amendment date forward will be governed under the 2019 treaty. No other changes or consideration were involved.

Effective March 31, 2022, the Company entered into a funds withheld reinsurance agreement to cede, on a coinsurance basis, 100% of all open block Whole Life, including all Whole Life riders, net of existing external reinsurance issued from approximately August 1998 through December 2021 with a third-party reinsurer licensed as an authorized reinsurer in the State of Ohio. This transaction resulted in initial funds withheld balance of $2,833,375 and a deferred gain of $880,471, which was recorded in surplus at the contract's inception. The initial premium payable by the Company was equal to the initial consideration receivable from the reinsurer which resulted in no cash being exchanged between parties at execution of the agreement. The agreement includes a provision for the payment of a quarterly experience refund. If the calculated experience refund is positive, only the risk charge is paid to the Reinsurer. If experience refund is negative, the amount of the funds withheld account balance is reduced by the negative amount. A loss carry forward is triggered when the funds withheld account balance is reduced to zero and experience refund is still negative. The loss carry forward is paid back with interest using future experience.

**AUGUSTAR LIFE INSURANCE COMPANY**

(A Wholly Owned Subsidiary of Constellation Insurance, Inc.)

Notes to Statutory Financial Statements<br>December 31, 2024, 2023 and 2022<br>(Dollars in thousands)

Effective April 1, 2023, the Company entered into a reinsurance transaction with an external insurer in which the Company assumed a block of variable annuity business with a GLWB rider, with separate account liabilities assumed on a modified coinsurance basis and general account liabilities assumed on a coinsurance basis. The Company immediately entered into a reinsurance agreement to retrocede this block of business on a modified coinsurance basis to an affiliate. Due to the immediate retrocession of the activity, no gain or loss was recognized at the inception of the agreement.

The Company manages its risks related to certain reinsurance agreements by monitoring the credit ratings of the reinsurer. Reinsurance with unauthorized reinsurers is secured by either letter of credit or assets held in trust for the benefit of the Company in accordance with the requirements in Appendix A-785 of the NAIC Statutory Accounting Practices and Procedures Manual. As of December 31, 2024 and 2023, a non-affiliated reinsurer held assets in trust with an estimated fair value of $766,934 and $732,755, respectively, and a letter of credit of $232 and $42,401, respectively.

The Company has reinsured approximately $6,011,077 and $6,447,720 as of December 31, 2024 and 2023, respectively, with various insurance companies.

*<u>Affiliate Reinsurance</u>*

The Company enters into various affiliated reinsurance transactions to mitigate the volatility of statutory surplus.

The Company cedes variable annuity-related risks, living and death benefits to SUNR for the GMAB, GMIB, GMDB and GLWB riders, and from SUNR to SYRE for certain GMIB, GMDB and GLWB riders. Effective July 1, 2021 certain variable annuity base contracts associated with the riders above were reinsured to SUNR and from SUNR to SYRE. Additionally, to consolidate the management of such living benefit risks, the Company assumes GMAB, GMIB, GMDB, and GLWB riders issued by NSLAC, which are correspondingly retroceded to SYRE. Certain base variable annuity contracts are retained by the Company, however the excess death benefit rider risk on the base contract is ceded to SUNR. The Company assumes BOLI policies issued by ALAC, but ceased reinsuring new policies in October 2016.

Effective January 2018, ALIC cedes 100% of the exchange program fixed indexed annuities (as described in Note 10) and associated GLWB riders to SYRE under a funds withheld, coinsurance basis. Effective March 31, 2022, ALIC amended its existing 100% funds withheld coinsurance agreement with SYRE to cede the retained inforce fixed indexed annuity policies, along with new fixed indexed annuity business (for the fixed indexed annuity products being offered at the time of the agreement). Effective January 1, 2024 the fixed indexed annuity reinsurance agreement was amended to cede the retained inforce (primarily the fixed indexed annuity products with the premium bonus), along with new fixed indexed annuity business. The initial impact of this transaction was a deferred gain of $52,930, net of tax, which was recorded in surplus at the contract's inception. During 2024, $23,855 of the deferred gain has been amortized into income.

**AUGUSTAR LIFE INSURANCE COMPANY**

(A Wholly Owned Subsidiary of Constellation Insurance, Inc.)

Notes to Statutory Financial Statements<br>December 31, 2024, 2023 and 2022<br>(Dollars in thousands)

SYRE applies a permitted practice prescribed by the Cayman Islands Monetary Authority ("CIMA'), SYRE's regulator in the Cayman Islands, that allows SYRE to carry the assumed reserves of $3,396,587 under the reinsurance arrangement utilizing a reserve methodology that is approved by CIMA. The approved reserve methodology is based upon U.S. GAAP. For all GMAB riders and some GLWB riders with net settlement provisions, the reserves are calculated using the Financial Accounting Standards Board ("FASB") Accounting Standards Codification ("ASC") Topic 815, *Derivatives and Hedging*. Topic 815 is a fair value or mark-to-market calculation required if the liability is deemed to be an embedded derivative. For all GMIB and GMDB riders, and the remaining GLWB riders without net settlement provisions, the reserves are calculated in accordance with FASB ASC Topic 944, *Financial Services - Insurance*. Topic 944 provides guidance for calculating reserves for contracts that provide additional benefits in excess of the account values and is similar to other GAAP reserve accounting methodologies. Topic 944 is a stochastic method that determines the percentage of the future rider charges required to fund the projected benefits. This percentage is recalculated at each valuation period. Under both of these GAAP calculations, the reserve calculation is measuring the reserve liability associated with the rider cash flows.

The following table is a summary of the reserves by product, rider type and valuation standard as of December 31:

---

| | | |
|:---|:---|:---|
|  | **2024** | **2023** |
| FASB ASC Topic 944: |  |  |
| &nbsp;&nbsp;&nbsp;GMIB | $3522 | 3147 |
| &nbsp;&nbsp;&nbsp;GMDB | 14 | 11 |
| &nbsp;&nbsp;&nbsp;GLWB | 56920 | 46275 |
| &nbsp;&nbsp;&nbsp;GMIB payout | 302 | 1438 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Subtotal | 60758 | 50871 |
| FASB ASC Topic 815: |  |  |
| &nbsp;&nbsp;&nbsp;GMAB embedded derivatives | 21 | 36 |
| &nbsp;&nbsp;&nbsp;Fixed indexed annuities | 3335808 | 465305 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Subtotal | 3335829 | 465341 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total reserves | $3396587 | 516212 |

---

As of December 31, 2024, the Company recorded a reserve credit of $5,220,046 related to variable annuities and fixed indexed annuities, including related rider benefits ceded to SUNR and SYRE. As of December 31, 2023, the Company recorded a reserve credit of $3,116,595 related to the rider benefits and fixed indexed annuities ceded to SUNR and SYRE. CII secured letters of credit totaling $250,000 and $75,000 for SYRE, with ALIC as the beneficiary in order to recognize the reserve credit as of December 31, 2024 and 2023, respectively. See Notes 14 and 20 for additional details related to letters of credit.

**AUGUSTAR LIFE INSURANCE COMPANY**

(A Wholly Owned Subsidiary of Constellation Insurance, Inc.)

Notes to Statutory Financial Statements<br>December 31, 2024, 2023 and 2022<br>(Dollars in thousands)

The Company also established funds withheld accounts for the benefit of SYRE that have a total carrying value of $3,292,867 and $1,030,790 and are recorded in Reinsurance funds withheld due to affiliate, net and Other liabilities on the Statutory Statements of Admitted Assets, Liabilities, and Capital and Surplus, and assets held in trust of $204,956 and $94,620 as of December 31, 2024 and 2023, respectively.

MONT, KENW and CMGO retrocede certain term life policies through yearly renewable term agreements to the Company on a quota share basis, which the Company then cedes to external reinsurers based on certain retention levels.

The Company assumes GMIB, GMAB and GMWB riders issued by NSLAC. As of 2015, the Company no longer assumes new business from NSLAC. As the Company was neither authorized nor accredited as a reinsurer in the State of New York, a reinsurance trust was created and funded by the Company. As of December 31, 2024 and 2023, assets held in trust for the benefit of NSLAC are $123,174 and $120,686, respectively.

Amounts in the accompanying statutory financial statements related to reinsurance agreements with affiliates in which the Company is the assuming party, are as follows for the years ended as of December 31:

---

| | | | |
|:---|:---|:---|:---|
|  | **2024** | **2023** | **2022** |
| **Statements of Operations:** |  |  |  |
| &nbsp;&nbsp;&nbsp;Premiums assumed | $116611 | 116296 | 115932 |
| &nbsp;&nbsp;&nbsp;Benefits incurred | 92617 | 120663 | 91839 |
| &nbsp;&nbsp;&nbsp;Commissions | 3893 | 4335 | 4476 |

---

---

| | | |
|:---|:---|:---|
|  | **2024** | **2023** |
| **Statements of Admitted Assets, Liabilities, and Capital and Surplus:** |  |  |
| &nbsp;&nbsp;&nbsp;Reserves for future policy benefits | $828672 | 925774 |
| &nbsp;&nbsp;&nbsp;Policy and contract claims payable | 20022 | 24387 |

---

*<u>Variable Annuity Reinsurance Agreements with SYRE and SUNR</u>*

The details of the Company's annuity rider reinsurance agreements with SYRE and SUNR are detailed below. Effective July 1, 2021 a treaty amendment was executed with SUNR to reinsure certain base contracts associated with the riders already reinsured with SUNR. The separate account value of the base contracts are reinsured using modified coinsurance with assets and liabilities being retained by ALIC, but cashflows and impacts of the changes in assets and liabilities being ceded to SUNR.

**AUGUSTAR LIFE INSURANCE COMPANY**

(A Wholly Owned Subsidiary of Constellation Insurance, Inc.)

Notes to Statutory Financial Statements<br>December 31, 2024, 2023 and 2022<br>(Dollars in thousands)

*GMIB and GMDB Riders Written After April 1, 2008*

 

In December 2008, the Company entered into a reinsurance agreement with SYRE to reinsure Annual Reset Death Benefit Riders ("ARDBR") and GMIB riders associated with variable annuity products written between April, 2008 and August, 2012. The treaty was amended to include new products issued beginning April 1, 2009. Under the agreement for contracts issued between April 1, 2008 and March 31, 2009, the Company retained the first 15% and reinsured to SYRE on an excess of loss basis the remaining 85% of the risk under its GMIB rider and the related ARDBR rider. For the above contracts, the Company reinsured to SYRE 100% of the risk for all riders listed above up to $5 million per annuitant. Furthermore, SYRE was to pay a single adjusted GMIB claim amount when a GMIB policy annuitized.

Effective July 31, 2010, a treaty addendum was executed which effectively resulted in the extinguishment of the treaty above and the establishment of a new treaty. The new treaty resulted in the removal of the adjusted GMIB claim calculation that contains the one-time net settlement payment and in its place, a GMIB claim amount that covers the monthly GMIB benefit during the annuity payout. SYRE now accepts 100% of the risk for all GMIB and ARDBR riders up to $5 million per annuitant.

Effective April 1, 2019, a treaty amendment was executed to recapture all Company-issued business previously ceded to SYRE. Effective April 1, 2019, the Company entered into a reinsurance agreement with SUNR to reinsure this business – a simultaneous transaction.

*GMIB and GMDB Riders Written Prior to April 1, 2008*

 

Effective November 30, 2011, the Company entered into a reinsurance agreement with SYRE to reinsure the claims in excess of limits established in a non-affiliated reinsurance agreement ("cap coverage") related to the GMIB riders associated with variable annuity products written on or after April 1, 2002 through March 31, 2008. Under the agreement, the cap coverage will have a deductible of $100,000. The deductible will increase each year at the risk free rate defined by the one-year swap curve. The valuation date for the calculation of the fair value for the initial consideration was October 31, 2011.

Effective December 31, 2011, the Company entered into a reinsurance agreement with SYRE to reinsure the cap coverage related to the GMDB riders associated with variable annuity products written on or after July 1, 2005 but prior to April 1, 2008. Under the agreement, the cap coverage will have a deductible of $35,000. The deductible will increase each year at the risk free rate defined by the one-year swap curve. The valuation date for the calculation of the fair value for the initial consideration was November 30, 2011.

Effective April 1, 2019, a treaty amendment was executed to recapture all Company-issued cap coverage previously ceded to SYRE. Effective April 1, 2019, the Company entered into a reinsurance agreement with SUNR to reinsure this business – a simultaneous transaction.

*GLWB Riders*

 

Effective May 1, 2010, the Company replaced its GMIB rider with a GLWB rider (see Note 10) in connection with its variable annuity products for all new business written from this date. The Company reinsures 100% of all GLWB riders with SYRE.

**AUGUSTAR LIFE INSURANCE COMPANY**

(A Wholly Owned Subsidiary of Constellation Insurance, Inc.)

Notes to Statutory Financial Statements<br>December 31, 2024, 2023 and 2022<br>(Dollars in thousands)

Effective May 1, 2013, the Company began selling a new 2013 Interest Sensitive GLWB rider ("IS GLWB"). An amendment was made to the SYRE GLWB reinsurance agreement to add these riders to the coverage. The Company cedes 30% of the benefit for this rider to SYRE for policies issued before January 1, 2018.

Effective April 1, 2019, a treaty amendment was executed to recapture all Company-issued business previously ceded to SYRE. Effective April 1, 2019, the Company entered into a reinsurance agreement with SUNR to reinsure this business – a simultaneous transaction.

Effective October 1, 2021, a treaty amendment was executed to cede to SUNR the remaining 70% of the IS GLWB benefits for policies issued before January 1, 2018 that were previously ceded to an external reinsurer.

*GMIB, GMDB, and GLWB Riders*

 

During December 2011, amendments were made to the SYRE reinsurance treaties for pre April 1, 2008 GMIB riders, post April 1, 2008 GMIB riders, GLWB riders and pre April 1, 2008 GMDB riders. The amendments provided SYRE with the option to convert the reinsurance treaties into a funds withheld ("FWH") arrangement in which the Company would engage in a hedging program under SYRE's direction and for the benefit of SYRE. The hedging performed by the Company for SYRE's benefit would be done in segregated FWH accounts. At the end of each quarter, SYRE will reimburse the Company for any hedging losses and expenses for operating the hedging program and SYRE will receive credit for any gains realized under the hedging program. The FWH amendments also state the responsibilities of the Company and SYRE as it relates to the margin requirements on the open derivative positions held in the FWH accounts. SYRE is responsible for reimbursing the Company for any cash held in a margin account related to a derivative program operated for the benefit of SYRE. The derivatives held by the Company for the benefit of SYRE in each segregated FWH account, as well as the cash held in a margin account related to the derivative program are considered the amounts withheld and are recorded as separate funds withheld liability (or asset if the derivative positions decrease) in Other liabilities (assets) on the Statutory Statements of Admitted Assets, Liabilities, and Capital and Surplus. The change in the value of the FWH related to the derivative positions were recorded within Derivative instruments in the Statutory Statements of Operations. As of December 31, 2011, the FWH option was elected by SYRE for the post April 1, 2008 GMIB riders and GLWB riders reinsurance treaties.

Effective April 1, 2019, a treaty amendment was executed to recapture all Company-issued business previously ceded to SYRE. Effective April 1, 2019, the Company entered into a reinsurance agreement with SUNR to reinsure this business. These simultaneous transactions settled the remaining balances from the original SYRE treaty and amendments. The treaty between the Company and SUNR continues to contain a FWH arrangement.

*GMDB Riders*

 

Effective April 1, 2019, the Company entered into an agreement with SUNR to reinsure all death benefit riders associated with variable annuity products, issued on or after January 1, 2001 that were not previously mentioned above. This excludes the Gain Enhancement Benefit (GEB and GEB Plus) riders.

**AUGUSTAR LIFE INSURANCE COMPANY**

(A Wholly Owned Subsidiary of Constellation Insurance, Inc.)

Notes to Statutory Financial Statements<br>December 31, 2024, 2023 and 2022<br>(Dollars in thousands)

*GMAB/GPP Riders*

 

Certain variable annuity contracts include a GMAB rider. On the eighth or tenth anniversary, depending on the version of the rider, the policyholder's account value will increase to the amount of the initial deposit if the account value at that anniversary is less than the initial deposit.

Effective April 1, 2019, the Company entered into an agreement with SUNR to reinsure all Guaranteed Principal Protection Riders ("GPP") associated with variable annuity products.

*Variable Annuity with GLWB assumed from third-party*

 

Effective April 1, 2023, the Company entered into a 100% modified coinsurance agreement with SYRE to reinsure all assumed general and separate account activity from its variable annuity reinsurance agreement with a third-party. The block includes policies with a GLWB rider.

Amounts in the accompanying statutory financial statements related to ceded variable annuity business to SUNR were as follows for the years ended December 31:

---

| | | | |
|:---|:---|:---|:---|
|  | **2024** | **2023** | **2022** |
| **Statements of Operations:** |  |  |  |
| &nbsp;&nbsp;&nbsp;Premiums and other considerations: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Life and annuity | $169294 | 182165 | 206190 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;M&E fees ceded | 171524 | 172570 | 193500 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Commission and expense allowance | (85500) | (87459) | (97547) |
| &nbsp;&nbsp;&nbsp;MODCO reinsurance premiums: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;MODCO - Premiums ceded | (735682) | 56641 | (4553900) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;MODCO - Reserve adjustment | 735682 | (56641) | 4553900 |
| &nbsp;&nbsp;&nbsp;Death and other benefits |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Annuity benefits | 132942 | 163720 | 141470 |
| &nbsp;&nbsp;&nbsp;MODCO reinsurance reserve adjustment: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;MODCO - Benefits transfer | 2197274 | 1733044 | 1559878 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;MODCO - Premiums transfer | (14538) | (17778) | (31227) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;MODCO - Net transfers | (2182736) | (1715266) | (1528651) |

---

**AUGUSTAR LIFE INSURANCE COMPANY**

(A Wholly Owned Subsidiary of Constellation Insurance, Inc.)

Notes to Statutory Financial Statements<br>December 31, 2024, 2023 and 2022<br>(Dollars in thousands)

---

| | | |
|:---|:---|:---|
|  | **2024** | **2023** |
| **Statements of Admitted Assets, Liabilities, and Capital and Surpalus:** |  |  |
| &nbsp;&nbsp;&nbsp;Other admitted assets: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Reinsurance recoverable | $13477 | 15765 |
| &nbsp;&nbsp;&nbsp;Reserves for future policy benefits | 1535474 | 1932055 |
| &nbsp;&nbsp;&nbsp;Other liabilities: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Premiums payable | 12492 | 13533 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Reinsurance payable | 15092 | 15374 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;FWH under reinsurance: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Margin account | 49229 | 70169 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Unrealized gains (losses) derivative instrument | 13339 | (17280) |
| &nbsp;&nbsp;&nbsp;Capital and surplus: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Unassigned surplus: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Unrealized gains derivative instruments | 4685 | 32402 |

---

Amounts in the accompanying statutory financial statements related to affiliate ceded variable annuity business to SYRE were as follows for the years ended December 31:

---

| | | | |
|:---|:---|:---|:---|
|  | **2024** | **2023** | **2022** |
| **Statements of Operations:** |  |  |  |
| &nbsp;&nbsp;&nbsp;Premiums and other considerations | $2571 | 2619 | 2631 |
| &nbsp;&nbsp;&nbsp;Death and other benefits | 84 | 54 | (15) |

---

---

| | | |
|:---|:---|:---|
|  | **2024** | **2023** |
| **Statements of Admitted Assets, Liabilities, and Capital and Surplus:** |  |  |
| &nbsp;&nbsp;&nbsp;Other admitted assets: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Reinsurance recoverable | $1128 | 2410 |
| &nbsp;&nbsp;&nbsp;Reserves for future policy benefits | 27006 | 35531 |
| &nbsp;&nbsp;&nbsp;Other liabilities: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Premiums payable | 206 | 218 |

---

**AUGUSTAR LIFE INSURANCE COMPANY**

(A Wholly Owned Subsidiary of Constellation Insurance, Inc.)

Notes to Statutory Financial Statements<br>December 31, 2024, 2023 and 2022<br>(Dollars in thousands)

Amounts in the accompanying statutory financial statements related to MODCO variable annuity business assumed from third-party and retroceded to SYRE were as follows for the year ended December 31:

---

| | | |
|:---|:---|:---|
|  | **2024** | **2023** |
| **Statements of Operations:** |  |  |
| &nbsp;&nbsp;&nbsp;Premiums and other considerations: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Life and annuity | $94094 | (277930) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;M&E fees ceded | (239075) | (186948) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Commission and expense allowance | 26624 | 195878 |
| &nbsp;&nbsp;&nbsp;MODCO reinsurance premiums: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;MODCO - Premiums ceded | 1339030 | (10365903) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;MODCO - Reserve adjustment | (1347302) | 10408804 |
| &nbsp;&nbsp;&nbsp;Death and other benefits |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Annuity benefits | 4952 | 1728 |
| &nbsp;&nbsp;&nbsp;MODCO reinsurance reserve adjustment: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;MODCO - Benefits transferred | 1176993 | 786000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;MODCO - Net transfers | (1176993) | (786000) |

---

---

| | | |
|:---|:---|:---|
|  | **2024** | **2023** |
| **Statements of Admitted Assets, Liabilities, and Capital and Surplus:** |  |  |
| &nbsp;&nbsp;&nbsp;Other admitted assets: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Reinsurance recoverable | $— | 17348 |
| &nbsp;&nbsp;&nbsp;Reserves for future policy benefits | 2284 | 1295 |
| &nbsp;&nbsp;&nbsp;Contract claims | (1314) | (3357) |
| &nbsp;&nbsp;&nbsp;Other liabilities: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Premiums payable | 92863 | 177753 |

---

*<u>Fixed Indexed Annuity Reinsurance Agreements with SYRE</u>*

Effective January 2018, the Company entered into a 100% coinsurance funds withheld reinsurance agreement with SYRE to reinsure the exchange program fixed indexed annuities and associated GLWB riders offered to certain policyholders of variable annuities with the GMIB rider. This exchange program was available for the period from January 2, 2018 through April 6, 2018, and for the period from June 4, 2018 through September 7, 2018 in the state of California. Effective March 31, 2022, the Company amended the treaty to cede all in-force retained and any future fixed indexed annuities (for the fixed indexed annuity products being offered at the time of the agreement), including associated GLWB riders. Effective January 1, 2024 the Company amended the treaty to cede the retained in-force policies (primarily the fixed indexed annuity products with the premium bonus), along with new fixed indexed annuity business.

**AUGUSTAR LIFE INSURANCE COMPANY**

(A Wholly Owned Subsidiary of Constellation Insurance, Inc.)

Notes to Statutory Financial Statements<br>December 31, 2024, 2023 and 2022<br>(Dollars in thousands)

Amounts in the accompanying statutory financial statements related to ceded fixed indexed annuity business to SYRE were as follows for the years ended December 31:

---

| | | | |
|:---|:---|:---|:---|
|  | **2024** | **2023** | **2022** |
| **Statements of Operations:** |  |  |  |
| &nbsp;&nbsp;&nbsp;Premiums and other considerations |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Annuity fees | $244263 | 21341 | 648181 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Commissions and expense allowances | (76236) | (4139) | (3675) |
| &nbsp;&nbsp;&nbsp;Death and other benefits | 263293 | 86057 | 60062 |

---

---

| | | |
|:---|:---|:---|
|  | **2024** | **2023** |
| **Statements of Admitted Assets, Liabilities, and Capital and Surplus:** |  |  |
| &nbsp;&nbsp;&nbsp;Reserves for future policy benefits | $3657566 | 1149009 |
| &nbsp;&nbsp;&nbsp;Other liabilities: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Reinsurance payable | 17459 | 1565 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;FWH under reinsurance: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Assets payable to affiliate | 3292867 | 1030790 |
| &nbsp;&nbsp;&nbsp;Capital and surplus: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Unassigned surplus: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Unrealized losses (gains) derivative instruments | (35834) | (4710) |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(14)** **Bank Line of Credit** 

On May 7, 2021, CII entered into a $1,500,000 senior unsecured, syndicated credit facility. The credit facility is established for the purpose of issuing letters of credit and loans for general corporate purposes. Letters of credit can be issued up to the maximum credit facility, however loans under the credit facility are limited to $500,000 with total combined amounts not to exceed $1,500,000. On July 2, 2024 the credit facility was amended which reduced fees, included changes to the commitment levels of banks involved in the agreement and extending the maturity date to July 2029. During 2024 and 2023, the Company borrowed $0 and $150,000, respectively, at various times against the facility and repaid all outstanding balances within the same calendar year.

CII utilized $100,000 and $75,000 of this facility as of December 31, 2024 and 2023, respectively, to secure a letter of credit for SYRE, with the Company as the beneficiary, in order to recognize reserve credit under statutory accounting principles.

There was no interest or fees paid by the Company on these lines of credit in 2024, 2023 and 2022.

**AUGUSTAR LIFE INSURANCE COMPANY**

(A Wholly Owned Subsidiary of Constellation Insurance, Inc.)

Notes to Statutory Financial Statements<br>December 31, 2024, 2023 and 2022<br>(Dollars in thousands)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(15)** **Income Taxes** 

The Company provides for deferred tax assets in accordance with the NAIC issued guidance. The components of the net admitted deferred tax asset, including those certain deferred tax assets and deferred tax liabilities, recognized in the Company's Statutory Statements of Admitted Assets, Liabilities, and Capital and Surplus as of December 31 are as follows:

---

| | | | |
|:---|:---|:---|:---|
|  | **Ordinary** | **Capital** | **Total** |
| **2024** |  |  |  |
| Gross deferred tax assets | $175743 | 7240 | 182983 |
| Statutory valuation allowance adjustments | (1717) |  | (1717) |
| &nbsp;&nbsp;&nbsp;Adjusted gross deferred tax assets | 174026 | 7240 | 181266 |
| Nonadmitted deferred tax assets | (34766) | (4620) | (39386) |
| &nbsp;&nbsp;&nbsp;Admitted deferred tax assets | 139260 | 2620 | 141880 |
| Deferred tax liabilities | (76597) | (2620) | (79217) |
| &nbsp;&nbsp;&nbsp;Admitted deferred tax assets, net | $62663 |  | 62663 |
| **2023** |  |  |  |
| Gross deferred tax assets | $190243 | 5559 | 195802 |
| Statutory valuation allowance adjustments | (1263) |  | (1263) |
| &nbsp;&nbsp;&nbsp;Adjusted gross deferred tax assets | 188980 | 5559 | 194539 |
| Nonadmitted deferred tax assets | (8510) | (3589) | (12099) |
| &nbsp;&nbsp;&nbsp;Admitted deferred tax assets | 180470 | 1970 | 182440 |
| Deferred tax liabilities | (97153) | (1970) | (99123) |
| &nbsp;&nbsp;&nbsp;Admitted deferred tax assets, net | $83317 |  | 83317 |
| **Change** |  |  |  |
| Gross deferred tax assets | $(14500) | 1681 | (12819) |
| Statutory valuation allowance adjustments | (454) |  | (454) |
| &nbsp;&nbsp;&nbsp;Adjusted gross deferred tax assets | (14954) | 1681 | (13273) |
| Nonadmitted deferred tax assets | (26256) | (1031) | (27287) |
| &nbsp;&nbsp;&nbsp;Admitted deferred tax assets | (41210) | 650 | (40560) |
| Deferred tax liabilities | 20556 | (650) | 19906 |
| &nbsp;&nbsp;&nbsp;Admitted deferred tax assets, net | $(20654) |  | (20654) |

---

**AUGUSTAR LIFE INSURANCE COMPANY**

(A Wholly Owned Subsidiary of Constellation Insurance, Inc.)

Notes to Statutory Financial Statements<br>December 31, 2024, 2023 and 2022<br>(Dollars in thousands)

The amount of gross deferred tax assets admitted under each component and the resulting increased amount by tax character as of December 31 are as follows:

---

| | | | |
|:---|:---|:---|:---|
|  | **Ordinary** | **Capital** | **Total** |
| **2024** |  |  |  |
| Federal income taxes paid in prior years recoverable through loss carrybacks | $— |  |  |
| Adjusted gross deferred tax assets expected to be realized after application of the threshold limitations: |  |  |  |
| &nbsp;&nbsp;&nbsp;(1) Adjusted gross deferred tax assets expected to be realized following the balance sheet date | N/A | N/A | 62663 |
| &nbsp;&nbsp;&nbsp;(2) Adjusted gross deferred tax assets allowed per limitation threshold | N/A | N/A | 301321 |
| Lesser of (1) or (2) | 62663 |  | 62663 |
| Deferred tax liabilities | 76597 | 2620 | 79217 |
| &nbsp;&nbsp;&nbsp;Admitted deferred tax assets | $139260 | 2620 | 141880 |
| **2023** |  |  |  |
| Federal income taxes paid in prior years recoverable through loss carrybacks | $— |  |  |
| Adjusted gross deferred tax assets expected to be realized after application of the threshold limitations: |  |  |  |
| &nbsp;&nbsp;&nbsp;(1) Adjusted gross deferred tax assets expected to be realized following the balance sheet date | N/A | N/A | 83317 |
| &nbsp;&nbsp;&nbsp;(2) Adjusted gross deferred tax assets allowed per limitation threshold | N/A | N/A | 280335 |
| Lesser of (1) or (2) | 83317 |  | 83317 |
| Deferred tax liabilities | 97153 | 1970 | 99123 |
| &nbsp;&nbsp;&nbsp;Admitted deferred tax assets | $180470 | 1970 | 182440 |
| **Change** |  |  |  |
| Federal income taxes paid in prior years recoverable through loss carrybacks | $— |  |  |
| Adjusted gross deferred tax assets expected to be realized after application of the threshold limitations: |  |  |  |
| &nbsp;&nbsp;&nbsp;(1) Adjusted gross deferred tax assets expected to be realized following the balance sheet date | N/A | N/A | (20654) |
| &nbsp;&nbsp;&nbsp;(2) Adjusted gross deferred tax assets allowed per limitation threshold | N/A | N/A | 20986 |
| Lesser of (1) or (2) | (20654) |  | (20654) |
| Deferred tax liabilities | (20556) | 650 | (19906) |
| &nbsp;&nbsp;&nbsp;Admitted deferred tax assets | $(41210) | 650 | (40560) |

---

**AUGUSTAR LIFE INSURANCE COMPANY**

(A Wholly Owned Subsidiary of Constellation Insurance, Inc.)

Notes to Statutory Financial Statements<br>December 31, 2024, 2023 and 2022<br>(Dollars in thousands)

The ratios used for threshold limitation (for SSAP 101 Paragraph 11b) as of December 31 are as follows:

---

| | | | |
|:---|:---|:---|:---|
|  | **2024** | **2023** | **Change** |
| Ratio percentage used to determine the recovery period and threshold limitation amount in above adjusted gross deferred tax assets | 1863.00% | 1792.08% | 70.92% |
| Amount of adjusted capital and surplus used to determine the recovery period threshold limitation amount in above adjusted gross deferred tax assets | $2191491 | 1909786 | 281705 |

---

The impact of tax-planning strategies as a percentage of adjusted gross and net admitted deferred tax assets as of December 31 are as follows:

---

| | | | |
|:---|:---|:---|:---|
|  | **Ordinary** | **Capital** | **Total** |
| **2024** |  |  |  |
| Adjusted gross deferred tax assets: <br>(Percentage of total adjusted gross deferred tax assets) | —% | —% | —% |
| Net admitted gross deferred tax assets: <br> (Percentage of total net admitted adjusted gross deferred tax assets) | —% | —% | —% |
| **2023** |  |  |  |
| Adjusted gross deferred tax assets: <br>(Percentage of total adjusted gross deferred tax assets) | —% | —% | —% |
| Net admitted gross deferred tax assets: (Percentage of total net admitted adjusted gross deferred tax assets) | —% | —% | —% |
| **Change** |  |  |  |
| Adjusted gross deferred tax assets: <br>(Percentage of total adjusted gross deferred tax assets) | —% | —% | —% |
| Net admitted gross deferred tax assets: <br> (Percentage of total net admitted adjusted gross deferred tax assets) | 0.00% | 0.00% | 0.00% |

---

**AUGUSTAR LIFE INSURANCE COMPANY**

(A Wholly Owned Subsidiary of Constellation Insurance, Inc.)

Notes to Statutory Financial Statements<br>December 31, 2024, 2023 and 2022<br>(Dollars in thousands)

The Company's tax planning strategies do not include the use of reinsurance tax planning strategies.

There are no temporary differences for which deferred tax liabilities are not recognized.

The provisions for current tax expenses on earnings for years ended December 31 are as follows:

---

| | | | |
|:---|:---|:---|:---|
|  | **2024** | **2023** | **2022** |
| Current year federal tax (benefit) expense - ordinary income | $245 | (46018) | 63856 |
| Current year foreign tax (benefit) expense - ordinary income |  |  |  |
| Subtotal | 245 | (46018) | 63856 |
| Current year tax expense - net realized capital (losses) gains | (1836) | (2124) | 15 |
| Utilization of capital loss carry forwards |  |  |  |
| Other |  |  |  |
| Federal and foreign income taxes incurred | $(1591) | (48142) | 63871 |

---

The tax effects of temporary differences that give rise to significant components of the net deferred tax assets as of December 31 are as follows:

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **2024** | **2023** | **2022** | **Change<br> from 2023** | **Change<br> from 2022** |
| Deferred tax assets: |  |  |  |  |  |
| Ordinary: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Policyholder reserves | $45634 | 50552 | 21317 | (4918) | 29235 |
| &nbsp;&nbsp;&nbsp;Investments | 4646 | 1552 | 6248 | 3094 | (4696) |
| &nbsp;&nbsp;&nbsp;Deferred acquisition costs | 82221 | 78559 | 74657 | 3662 | 3902 |
| &nbsp;&nbsp;&nbsp;Policyholder dividends accrued | 1010 | 772 | 836 | 238 | (64) |
| &nbsp;&nbsp;&nbsp;Compensation and benefit accruals | 15635 | 11519 | 10462 | 4116 | 1057 |
| &nbsp;&nbsp;&nbsp;Tax credit carry-forward | 2208 | 3160 | 6127 | (952) | (2967) |
| &nbsp;&nbsp;&nbsp;Section 807(f) reserves | 4473 | 5964 | 7455 | (1491) | (1491) |
| &nbsp;&nbsp;&nbsp;Pension accrual |  |  | 2588 |  | (2588) |
| &nbsp;&nbsp;&nbsp;Nonadmitted asset | 2274 | 5351 | 2532 | (3077) | 2819 |
| &nbsp;&nbsp;&nbsp;Modco CARVM adjustment | 6632 | 28870 |  | (22238) | 28870 |
| &nbsp;&nbsp;&nbsp;Other | 11010 | 3944 | 2155 | 7066 | 1789 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Ordinary deferred tax assets | 175743 | 190243 | 134377 | (14500) | 55866 |
| &nbsp;&nbsp;&nbsp;Statutory valuation allowance adjustment | (1717) | (1263) | (2464) | (454) | 1201 |
| &nbsp;&nbsp;&nbsp;Nonadmitted ordinary deferred tax assets | (34766) | (8510) | (53951) | (26256) | 45441 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Admitted ordinary deferred tax assets | 139260 | 180470 | 77962 | (41210) | 102508 |

---

(continued on next page)

**AUGUSTAR LIFE INSURANCE COMPANY**

(A Wholly Owned Subsidiary of Constellation Insurance, Inc.)

Notes to Statutory Financial Statements<br>December 31, 2024, 2023 and 2022<br>(Dollars in thousands)

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **2024** | **2023** | **2022** | **Change <br> from 2023** | **Change<br> from 2022** |
| Deferred tax assets (continued): |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Capital: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Investments | 3727 | 3593 | 1571 | 134 | 2022 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net capital loss carryforward | 3513 | 1966 | 561 | 1547 | 1405 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Capital deferred tax assets | 7240 | 5559 | 2132 | 1681 | 3427 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Nonadmitted capital deferred tax assets | (4620) | (3589) | (2132) | (1031) | (1457) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Admitted capital deferred tax assets | 2620 | 1970 |  | 650 | 1970 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Admitted deferred tax assets | 141880 | 182440 | 77962 | (40560) | 104478 |
| Deferred tax liabilities: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Ordinary: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Investments | 4984 | 2485 | 8056 | 2499 | (5571) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section 807(f) reserves | 55 | 1585 | 6291 | (1530) | (4706) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Deferred and uncollected premium | 518 | 482 | 371 | 36 | 111 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Policyholder reserves - tax reform transition | 2986 | 5972 | 8957 | (2986) | (2985) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Modco CARVM adjustment | 63899 | 84057 |  | (20158) | 84057 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Other | 4155 | 2572 | 2316 | 1583 | 256 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Ordinary deferred tax liabilities | 76597 | 97153 | 25991 | (20556) | 71162 |
| Capital: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Investments | 2620 | 1970 |  | 650 | 1970 |
| &nbsp;&nbsp;&nbsp;Subtotal | 2620 | 1970 |  | 650 | 1970 |
| &nbsp;&nbsp;&nbsp;Deferred tax liabilities | 79217 | 99123 | 25991 | (19906) | 73132 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Admitted deferred tax assets, net | $62663 | 83317 | 51971 | (20654) | 31346 |

---

There was a statutory valuation allowance adjustment to gross deferred tax assets of $1,717 for the period ended December 31, 2024. There was a statutory valuation allowance adjustment to gross deferred tax assets of $1,263 for the period ended December 31, 2023.

The realization of the deferred tax asset is dependent upon the Company's ability to generate sufficient taxable income in future periods. Based on historical results and the prospects for future operations, management anticipates that it is more likely than not that future taxable income will be sufficient for the realization of the remaining deferred tax assets.

**AUGUSTAR LIFE INSURANCE COMPANY**

(A Wholly Owned Subsidiary of Constellation Insurance, Inc.)

Notes to Statutory Financial Statements<br>December 31, 2024, 2023 and 2022<br>(Dollars in thousands)

The change in the net deferred income taxes of December 31 is comprised of the following:

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **2024** | **2023** | **2022** | **Change<br> from 2023** | **Change<br> from 2022** |
| Total deferred tax assets | $182983 | 195802 | 136509 | (12819) | 59293 |
| Total deferred tax liabilities | (79217) | (99123) | (25991) | 19906 | (73132) |
| &nbsp;&nbsp;&nbsp;Net deferred tax assets | 103766 | 96679 | 110518 | 7087 | (13839) |
| Statutory valuation allowance adjustment | (1717) | (1263) | (2464) | (454) | 1201 |
| &nbsp;&nbsp;&nbsp;Net deferred tax assets | 102049 | 95416 | 108054 | 6633 | (12638) |
| Tax effect of unrealized losses | 230 | 342 | 354 | (112) | (12) |
| Statutory valuation allowance adjustment allocated to unrealized |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Change in net deferred income taxes | $102279 | 95758 | 108408 | 6521 | (12650) |

---

The provision for federal income taxes incurred is different from that which would be obtained by applying the statutory federal income tax rate to income before income taxes. The significant tax effects causing this difference for the years ended December 31 are as follows:

---

| | | | |
|:---|:---|:---|:---|
|  | **2024** | **2023** | **2022** |
| Provision computed at statutory tax rate | $62489 | 17737 | (36298) |
| Dividends received deduction | (8532) | (6403) | (3520) |
| Interest maintenance reserve | (3004) | (3342) | (4310) |
| Change in equity of subsidiaries | (44769) | (18681) | (14557) |
| Transfer pricing | 1353 | (4512) | (10746) |
| Tax credits | (13778) | (9338) | (5484) |
| Reinsurance surplus adjustment | (4355) | (12132) | 169556 |
| Statutory Reserve Adjustment | 454 | (1202) | 2464 |
| Other | 2032 | 2381 | 327 |
| &nbsp;&nbsp;&nbsp;Total statutory taxes | $(8110) | (35492) | 97432 |
| Provision for federal income taxes | $245 | (46018) | 63856 |
| Tax on capital gains | (1836) | (2124) | 15 |
| Change in net deferred income tax | (6519) | 12650 | 33561 |
| &nbsp;&nbsp;&nbsp;Total statutory taxes | $(8110) | (35492) | 97432 |

---

The Company's policy for recording penalties associated with audits, claims, and adjustments is to record such amount as a component of income taxes.

**AUGUSTAR LIFE INSURANCE COMPANY**

(A Wholly Owned Subsidiary of Constellation Insurance, Inc.)

Notes to Statutory Financial Statements<br>December 31, 2024, 2023 and 2022<br>(Dollars in thousands)

Total federal income taxes received (including tax on capital gains) were $20,517 during the year ended December 31, 2024; Total federal income taxes received (including tax on capital gains) were $45,128 during the year ended December 31, 2023; and total federal income taxes paid (including tax on capital gains) were $125,210 during the year ended December 31, 2022.

As of December 31, 2024, there are operating losses and capital loss carryforwards of $16,728 available for tax purposes, which begin expiring in 2027. As of December 31, 2023, there are operating losses and capital loss carryforwards of $9,361 available for tax purposes, which begin expiring in 2027. As of December 31, 2022, there are no net operating losses and capital loss carryforwards of $2,673 available for tax purposes expiring in 2027. As of December 31, 2024 and 2023, the Company has valuation allowances of $1,717 and $1,263, respectively. A partial valuation allowance was established in 2022 related to limitation on the Company's ability to utilize loss carryforwards as a result of the demutualization discussed in Note 17. As of December 31, 2024 and 2023, the Company does not have any uncertain tax positions related to the Separate Account Dividends Receivable Deduction ("SA DRD") company share percentage(s) for tax return year 2017. As of December 31, 2024 and 2023, the Company has tax credit carryforwards of $2,208 and $3,160, respectively, which will start expiring in 2030.

There are no federal income taxes incurred that are available for recoupment in the event of future net losses.

The Company has no tax loss contingencies for which it is reasonably possible that the total liability will significantly increase within twelve months of reporting.

There are no aggregate federal income tax deposits under Internal Revenue Code Section 6603, and none are recorded as admitted assets.

The Company's federal income tax return is consolidated with the other life insurance companies ALAC, NSLAC, KENW, MONT, SYRE, CMGO and SUNR and then with its common parent, CIHI.

The Company is not under current examination with the Internal Revenue Service. The statute of limitations remains open for tax years 2021, 2022 and 2023 for the consolidated tax group.

The allocation of taxes between members of the federal consolidated income tax return is subject to written agreement approved by the Board of Directors. Allocations are based on separate company calculations with current credit for losses. Intercompany tax balances are settled quarterly.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(16)** **Pensions and Other Post-Retirement Benefit Plans** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;***(a)***  ***Home Office Pension Plan*** 

 ****

The Company sponsors a funded qualified defined benefit pension plan covering all home office employees hired prior to January 1, 1998. This plan was amended effective December 31, 2019 to freeze the accrual of future benefits. This plan includes participants who are employees of the Company and devote substantially all of their time to service for the Company. Retirement benefits are based on years of service and the highest average earnings in five of the last ten years.

**AUGUSTAR LIFE INSURANCE COMPANY**

(A Wholly Owned Subsidiary of Constellation Insurance, Inc.)

Notes to Statutory Financial Statements<br>December 31, 2024, 2023 and 2022<br>(Dollars in thousands)

The measurement dates were December 31, 2024 and 2023.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;***(b)***  ***Home Office Post-Retirement Benefit Plan*** 

 ****

The Company currently offers eligible retirees the opportunity to participate in a post-retirement health and group life plan. This plan was amended effective July 1, 2013, to provide participants younger than age 65 a fixed portion of the health insurance contract premium and for participants age 65 and older, a fixed dollar amount which the participant must use to independently purchase their own insurance. Previously, this plan provided all participants a fixed portion of the health insurance contract premium. The portion the Company pays is periodically increased and is a function of participant service. Only home office employees hired prior to January 1, 1998 may become eligible for these benefits provided that the employee meets the retirement age and years of service requirements.

This plan includes participants who are employees of the Company and devote substantially all of their time to service for the Company.

The post-retirement health plan does not provide benefits which are actuarially equivalent to Medicare Part D benefits. Therefore, the Company does not receive the associated federal Medicare subsidy.

The measurement dates were December 31, 2024 and 2023.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;***(c)***  ***General Agents' Pension Plan*** 

 ****

The Company sponsors an unfunded, nonqualified defined benefit pension plan covering its general agents hired prior to January 1, 2005. This plan provides benefits based on years of service and average compensation during the final five and ten years of service.

The measurement dates were December 31, 2024 and 2023.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;***(d)***  ***Agents' Post-Retirement Benefits Plan*** 

 ****

The Company sponsors a post-retirement health and group life plan. Only agents with contracts effective prior to January 1, 1998 who meet the retirement age and service requirements are eligible for these benefits. The health and group life plan is contributory, with retirees contributing approximately 50% of premium for coverage. As with all plan participants, the Company reserves the right to change the retiree premium contribution at renewal.

The post-retirement health plan does not provide benefits which are actuarially equivalent to Medicare Part D benefits. Therefore, the Company does not receive the associated federal Medicare subsidy. The Plan was terminated effective as of January 1, 2023. The impact of the curtailment is included below.

The measurement dates were December 31, 2024 and 2023.

**AUGUSTAR LIFE INSURANCE COMPANY**

(A Wholly Owned Subsidiary of Constellation Insurance, Inc.)

Notes to Statutory Financial Statements<br>December 31, 2024, 2023 and 2022<br>(Dollars in thousands)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;***(e)***  ***Obligations and Funded Status*** 

 ****

Information regarding the funded status of the pension plans as a whole and other benefit plans as a whole as of December 31 is as follows:

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Pension benefits** | **Pension benefits** | **Other benefits** | **Other benefits** |
|  | **2024** | **2023** | **2024** | **2023** |
| Change in projected benefit obligation: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Projected benefit obligation at beginning of year | $46922 | 47967 | 5901 | 6229 |
| &nbsp;&nbsp;&nbsp;Service cost |  |  | 21 | 19 |
| &nbsp;&nbsp;&nbsp;Interest cost | 2321 | 2382 | 280 | 320 |
| &nbsp;&nbsp;&nbsp;Actuarial (gain) loss | (2014) | 2200 | (100) | 68 |
| &nbsp;&nbsp;&nbsp;Benefits paid \* | (8169) | (6203) | (836) | (735) |
| &nbsp;&nbsp;&nbsp;Settlement/curtailment | 413 | 576 |  |  |
| &nbsp;&nbsp;&nbsp;Projected benefit obligation at end of year | $39473 | 46922 | 5266 | 5901 |

---

\* Benefits paid include amounts paid from both funded and unfunded benefit plans.

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Pension benefits** | **Pension benefits** | **Other benefits** | **Other benefits** |
|  | **2024** | **2023** | **2024** | **2023** |
| Change in plan assets: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Fair value of plan assets at beginning of year | $60689 | 58369 |  |  |
| &nbsp;&nbsp;&nbsp;Actual return on plan assets | 5843 | 6708 |  |  |
| &nbsp;&nbsp;&nbsp;Benefits and expenses paid | (7981) | (4388) |  |  |
| &nbsp;&nbsp;&nbsp;Fair value of plan assets at end of year | $58551 | 60689 |  |  |
| Funded status | $19078 | 13767 | (5266) | (5901) |
| Unrecognized net actuarial loss | 2174 | 5841 | 1757 | 2123 |
| Net prepaid (accrued) amount recognized | $21252 | 19608 | (3509) | (3778) |

---

**AUGUSTAR LIFE INSURANCE COMPANY**

(A Wholly Owned Subsidiary of Constellation Insurance, Inc.)

Notes to Statutory Financial Statements<br>December 31, 2024, 2023 and 2022<br>(Dollars in thousands)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Pension benefits** | **Pension benefits** | **Other benefits** | **Other benefits** |
|  | **2024** | **2023** | **2024** | **2023** |
| Funded Status: |  |  |  |  |
| Overfunded |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Assets (nonadmitted) |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Prepaid benefit costs | $— |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Overfunded plan assets |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total assets (nonadmitted) | $— |  |  |  |
| Underfunded |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Liabilities recognized |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net prepaid (accrued) amount recognized | $21252 | 19608 | (3509) | (3778) |
| &nbsp;&nbsp;&nbsp;Liabilities for benefits | (2174) | (5841) | (1757) | (2123) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total liabilities recognized | $19078 | 13767 | (5266) | (5901) |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Pension benefits** | **Pension benefits** | **Other benefits** | **Other benefits** |
|  | **2024** | **2023** | **2024** | **2023** |
| Amounts recognized in the statutory statements of admitted assets, liabilities, and capital and surplus consist of: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Prepaid benefit costs | $21756 | 20214 |  |  |
| &nbsp;&nbsp;&nbsp;Accrued benefit costs | (504) | (606) | (3509) | (3778) |
| &nbsp;&nbsp;&nbsp;Surplus | (2174) | (5841) | (1757) | (2123) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total liabilities recognized | $19078 | 13767 | (5266) | (5901) |

---

---

| | | | |
|:---|:---|:---|:---|
|  | **Pension benefits** | **Pension benefits** | **Pension benefits** |
|  | **2024** | **2023** | **2022** |
| Components of net periodic benefit cost: |  |  |  |
| &nbsp;&nbsp;&nbsp;Service cost | $— |  | 12 |
| &nbsp;&nbsp;&nbsp;Interest cost | 2321 | 2382 | 2161 |
| &nbsp;&nbsp;&nbsp;Expected return on plan assets | (4198) | (3816) | (5049) |
| &nbsp;&nbsp;&nbsp;Amortization of net loss | 6 | 195 | 604 |
| &nbsp;&nbsp;&nbsp;Settlement | 414 | 868 | 1181 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net periodic benefit cost | $(1457) | (371) | (1091) |

---

**AUGUSTAR LIFE INSURANCE COMPANY**

(A Wholly Owned Subsidiary of Constellation Insurance, Inc.)

Notes to Statutory Financial Statements<br>December 31, 2024, 2023 and 2022<br>(Dollars in thousands)

---

| | | | |
|:---|:---|:---|:---|
|  | **Other benefits** | **Other benefits** | **Other benefits** |
|  | **2024** | **2023** | **2022** |
| Components of net periodic benefit cost: |  |  |  |
| &nbsp;&nbsp;&nbsp;Service cost | $21 | 19 | 34 |
| &nbsp;&nbsp;&nbsp;Interest cost | 280 | 320 | 244 |
| &nbsp;&nbsp;&nbsp;Amortization of prior service cost |  |  | (244) |
| &nbsp;&nbsp;&nbsp;Amortization of net loss (gain) | 266 | (378) | 515 |
| &nbsp;&nbsp;&nbsp;Curtailment |  |  | (516) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net periodic benefit cost | $567 | (39) | 33 |

---

The following is attributable to pension plans whose accumulated benefit obligation exceeds plan assets as of December 31:

---

| | | |
|:---|:---|:---|
|  | **Pension benefits** | **Pension benefits** |
|  | **2024** | **2023** |
| Projected benefit obligation | $639 | 796 |
| Accumulated benefit obligation | 639 | 796 |
| Prepaid pension cost | 21252 | 19608 |

---

**AUGUSTAR LIFE INSURANCE COMPANY**

(A Wholly Owned Subsidiary of Constellation Insurance, Inc.)

Notes to Statutory Financial Statements<br>December 31, 2024, 2023 and 2022<br>(Dollars in thousands)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;***(f)***  ***Assumptions*** 

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Pension benefits** | **Pension benefits** | **Other benefits** | **Other benefits** |
|  | **2024** | **2023** | **2024** | **2023** |
| Weighted average assumptions used to determine net periodic cost at January 1: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Discount rate | 5.05% | 5.40% | 5.05% | 5.45% |
| &nbsp;&nbsp;&nbsp;Expected long-term return on plan assets | 7.00% | 7.00% |  |  |
| &nbsp;&nbsp;&nbsp;Rate of compensation increase | 3.50% | 3.50% | 4.25% | 4.25% |
| &nbsp;&nbsp;&nbsp;Health care cost trend rate assumed for next year: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Before 65 |  |  | 9.00% | 9.00% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Age 65 and older |  |  | 0.00% | 0.00% |
| &nbsp;&nbsp;&nbsp;Rate to which the health cost trend rate is assumed to decline (the ultimate trend rate): |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Before 65 |  |  | 9.00% | 9.00% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Age 65 and older |  |  | 0.00% | 0.00% |
| &nbsp;&nbsp;&nbsp;Year that the rate reaches the ultimate trend rate |  |  | 2024 | 2023 |
| Weighted average assumptions used to determine benefit obligations at December 31: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Discount rate | 5.45% | 5.05% | 5.40% | 5.05% |
| &nbsp;&nbsp;&nbsp;Rate of compensation increase | 3.50% | 3.50% | 4.25% | 4.25% |

---

Assumed health care cost trend rates have a significant effect on the amounts reported for the health care plans. A one percentage point change in assumed health care cost trend rates would have the following effects:

---

| | | |
|:---|:---|:---|
|  | **1 Percentage**<br>**point increase** | **1 Percentage**<br>**point decrease** |
| Effect on total of 2024 service cost and interest cost | $17 | (16) |
| Effect on 2024 other post-retirement benefit obligation | 211 | (208) |

---

**AUGUSTAR LIFE INSURANCE COMPANY**

(A Wholly Owned Subsidiary of Constellation Insurance, Inc.)

Notes to Statutory Financial Statements<br>December 31, 2024, 2023 and 2022<br>(Dollars in thousands)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;***(g)***  ***Plan Assets*** 

 ****

The following table presents the hierarchy of the Company's qualified pension plan assets at fair value as of December 31:

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Level 1** | **Level 2** | **Level 3** | **Total** |
| **2024** |  |  |  |  |
| Bond funds | $21363 |  |  | 21363 |
| Stock funds | 37188 |  |  | 37188 |
| &nbsp;&nbsp;&nbsp;Total assets | $58551 |  |  | 58551 |
| **2023** |  |  |  |  |
| Bond funds | $18259 |  |  | 18259 |
| Stock funds | 42430 |  |  | 42430 |
| &nbsp;&nbsp;&nbsp;Total assets | $60689 |  |  | 60689 |

---

The Company categorizes pension benefit plan assets consistent with the Fair Value Hierarchy as described in Note 5.

The assets of the Company's Home Office Pension Plan ("the Plan") are invested in group variable annuity contracts issued by the Company offering specific investment choices from various asset classes providing diverse and professionally managed options. As of December 31, 2024 and 2023, $28,675 and $25,800, respectively, of the Plan assets are funds that are affiliated with the Company. The assets are invested in a mix of stocks, bonds and real estate securities in allocations as determined from time to time by the Pension Plan Committee. The target allocations are designed to balance the Plan's short-term liquidity needs and its long-term liabilities. The target allocations are currently 70% stocks and 30% bonds.

For diversification and risk control purposes, where applicable, each asset class is further divided into sub classes such as large cap, mid cap and small cap and growth, core and value for stocks and U.S. domestic, global and high yield for bonds. To the extent possible, each sub asset class utilizes multiple fund choices and no single fund contains more than 25% of the Plan assets (exclusive of any short-term increases in assets due to any Plan funding). The Plan performance is measured by a weighted benchmark consisting of stock and bond benchmarks in weights determined by the Pension Plan committee.

The overall expected long-term rate of return on assets is determined by a weighted average return of bond and stock indexes. Bond securities (including cash) make up 36% of the weighted average return and stocks make up 64% of the weighted average return.

**AUGUSTAR LIFE INSURANCE COMPANY**

(A Wholly Owned Subsidiary of Constellation Insurance, Inc.)

Notes to Statutory Financial Statements<br>December 31, 2024, 2023 and 2022<br>(Dollars in thousands)

The following table shows the weighted average asset allocation by class of the Plan's assets as of December 31:

---

| | | |
|:---|:---|:---|
|  | **2024** | **2023** |
| Stocks | 64% | 70% |
| Bonds | 36 | 30 |
| Total | 100% | 100% |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;***(h)***  ***Cash Flows*** 

 

*Contributions*

 ****

The minimum funding requirement under The Employee Retirement Income Security Act of 1974 for 2024 was zero. No contributions were made to the qualified pension plan for the years ended December 31, 2024 and 2023, respectively. There is no planned contribution to the qualified pension plan for the 2025 plan year.

*Estimated Future Benefit Payments*

 

The following benefit payments, which reflect expected future service, as appropriate, are expected to be paid:

---

| | | |
|:---|:---|:---|
|  | **Pension <br> benefits** | **Other <br> benefits** |
| 2025 | $1774 | 598 |
| 2026 | 2042 | 609 |
| 2027 | 2376 | 560 |
| 2028 | 2844 | 516 |
| 2029 | 3055 | 528 |
| 2030-2034 | 18087 | 1909 |

---

**AUGUSTAR LIFE INSURANCE COMPANY**

(A Wholly Owned Subsidiary of Constellation Insurance, Inc.)

Notes to Statutory Financial Statements<br>December 31, 2024, 2023 and 2022<br>(Dollars in thousands)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Pension benefits** | **Pension benefits** | **Other benefits** | **Other benefits** |
|  | **2024** | **2023** | **2024** | **2023** |
| Amounts in unassigned funds (surplus) recognized in the next fiscal year as components of periodic benefit cost: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Items not yet recognized as a component of net periodic cost - prior year | $5841 | 7020 | 2123 | 1677 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net prior service cost or credit recognized |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net (loss) and gain arising during the period | (3247) | (116) | (100) | 68 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net (loss) and gain recognized | (420) | (1063) | (266) | 378 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Items not yet recognized as a component of net periodic cost - current year | $2174 | 5841 | 1757 | 2123 |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Pension benefits** | **Pension benefits** | **Other benefits** | **Other benefits** |
|  | **2024** | **2023** | **2024** | **2023** |
| Amounts in unassigned funds (surplus) expected to be recognized in the next fiscal year as components of net periodic benefit cost: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Net prior service cost or credit | $— | **—** | **—** | **—** |
| &nbsp;&nbsp;&nbsp;Net recognized losses | 3 | 14 | 214 | 266 |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Pension benefits** | **Pension benefits** | **Other benefits** | **Other benefits** |
|  | **2024** | **2023** | **2024** | **2023** |
| Amounts in unassigned funds (surplus) that have not yet been recognized as components of net periodic benefit cost: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Net prior service cost or credit | $— |  |  |  |
| &nbsp;&nbsp;&nbsp;Net recognized losses | 2174 | 5841 | 1757 | 2123 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;***(i)***  ***Other Plan Expenses*** 

 ****

The Company also maintains a qualified contributory defined contribution profit-sharing plan covering substantially all employees. Company contributions to the profit-sharing plan are based on the net earnings of the Company and are payable at the sole discretion of management. During 2023, the profit-sharing plan was restructured, and the Company ceased contributions. The expense for contributions to the profit-sharing plan for 2024, 2023 and 2022 was $0, $1,599 and $4,026, respectively.

**AUGUSTAR LIFE INSURANCE COMPANY**

(A Wholly Owned Subsidiary of Constellation Insurance, Inc.)

Notes to Statutory Financial Statements<br>December 31, 2024, 2023 and 2022<br>(Dollars in thousands)

Employees hired on or after January 1, 1998 are covered by a defined contribution pension plan. The expense reported for this plan was $3,264, $2,650 and $2,906 in 2024, 2023 and 2022, respectively.

During 2020 the profit-sharing plan and the defined contribution pension plan were combined and are now being administered by a third party.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;***(j)***  ***CII Employees*** 

 ****

The Company's qualified pension and post-retirement benefit plans include participants who are employees of CII. Participating CII employees are vice presidents and other executive officers of CII and devote substantially all of their time to service for the Company. Most of CII's employees were employees of the Company prior to January 1, 2001 and were participants in the benefit plan at that time.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(17)** **Capital and Surplus, Dividend Restrictions and Regulatory RBC** 

*<u>Capital and Surplus</u>*

The Company has 10,000,000 shares ($1 par value) authorized, issued and outstanding of Class A common stock as of December 31, 2024 and 2023. The Company has no preferred stock issued or outstanding.

Effective March 31, 2022, CIHI was acquired by Constellation in a sponsored demutualization, whereby CIHI converted from a mutual holding company to a stock company. Eligible members were compensated, in the aggregate of $500 million, for the extinguishment of their membership interests with additional policy benefits or cash, as applicable (see Note 10 for additional details). In addition to member compensation, on each of the first four anniversaries after the closing, Constellation will pay or cause to be paid an infusion of capital to ALIC. During 2023 and 2024, the Company received a capital contribution of $125,000 from CII in satisfaction of the first two installments. Subsequent to the balance sheet date, CII contributed $125,000 of capital to ALIC in satisfaction of the third installment.

Surplus notes outstanding are as follows as of December 31:

---

| | | |
|:---|:---|:---|
|  | **2024** | **2023** |
| Surplus notes |  |  |
| &nbsp;&nbsp;&nbsp;6.875% fixed rate due 2042 | $250000 | $250000 |
| &nbsp;&nbsp;&nbsp;5.000% fixed rate due 2031 | 4220 | 4179 |
| &nbsp;&nbsp;&nbsp;5.800% fixed rate due 2027 | 5968 | 5954 |
| &nbsp;&nbsp;&nbsp;8.500% fixed rate due 2026 | 47970 | 47949 |
| Total | $308158 | $308082 |

---

In June 2012, ALIC issued a $250,000, 6.875% fixed rate surplus note due June 15, 2042. Interest on this surplus note is payable semi-annually on June 15 and December 15. ALIC may redeem this surplus note at its option. This surplus note is unsecured and subordinated to all present and future indebtedness and policy claims of ALIC.

**AUGUSTAR LIFE INSURANCE COMPANY**

(A Wholly Owned Subsidiary of Constellation Insurance, Inc.)

Notes to Statutory Financial Statements<br>December 31, 2024, 2023 and 2022<br>(Dollars in thousands)

In December 2011, ALIC issued a $4,500, 5% fixed rate surplus note to Security Mutual Life Insurance Company of New York ("SML"), as payment for the purchase of the additional shares of NSLAC. This note matures on December 15, 2031. Interest on this surplus note is payable semi-annually on December 15 and June 15. ALIC may redeem this surplus note at its option. This surplus note is unsecured and subordinated to all present and future indebtedness and policy claims of ALIC.

In April 2007, ALIC issued a $6,000, 5.8% fixed rate surplus note to SML, as payment for the purchase of a portion of the shares of NSLAC. This note matures on April 1, 2027. Interest on this surplus note is payable semi-annually on April 1 and October 1. ALIC may redeem this surplus note at its option. This surplus note is unsecured and subordinated to all present and future indebtedness and policy claims of ALIC.

In May 1996, ALIC issued $50,000, 8.5% fixed rate surplus notes due May 15, 2026. Interest on this surplus note is payable semi-annually on May 15 and November 15. ALIC may not redeem this surplus note at its option. This surplus note is unsecured and subordinated to all present and future indebtedness and policy claims of ALIC. In December 2023, ALIC purchased $2,000 of the surplus note on the open market. The transaction was approved by the Department and obligation was retired with the trustee.

Except as provided in Section 3901.72 of the Ohio Revised Code, the notes are not part of the legal liabilities of the Company and are not a liability or claim against the Company or any of its assets. Interest payments, scheduled semi-annually, must be approved for payment by the Department. The Company paid $21,841, $22,011 and $22,011 in interest related to these notes in 2024, 2023 and 2022, respectively. Principal payments must also be approved by the Department. Interest expense for surplus notes is not recognized on the Statutory Statements of Operations until it has been approved by the Department.

*<u>Regulatory RBC</u>*

The NAIC has established RBC requirements to assist regulators in monitoring the financial strength and stability of life insurers and provides for an insurance commissioner to intervene if the insurer experiences financial difficulty. The RBC requirements instruct every life insurer to calculate its total adjusted capital and RBC position. The formula includes components for asset risk, liability risk, interest rate exposure, and other factors. Under the NAIC requirements, each insurer must maintain its total adjusted capital and surplus above a calculated minimum threshold or take corrective measures to achieve that threshold. Based upon the December 31, 2024 and 2023 statutory financial statements, the Company exceeded all required RBC levels.

*<u>Dividend Restrictions</u>*

The payment of dividends by ALIC to CII is limited by Ohio insurance laws. The maximum dividend that may be paid to CII without prior approval of the Director of Insurance is limited to the greater of ALIC's statutory net income of the preceding calendar year or 10% of statutory surplus as of the preceding December 31. Any dividend that exceeds the earned surplus of the Company, even if it is within the above parameters, would be deemed extraordinary under Ohio law. Therefore, dividends of approximately $202,000 may be paid by ALIC to CII in 2025 without prior approval. Dividends of $195,000, $196,590 and $419,000 were declared and paid by ALIC to CII in 2024, 2023 and 2022, respectively. Included in the dividend amount for 2023 was the Company's common stock of its non-life insurance subsidiaries, CINV, ADI and ONESCO.

**AUGUSTAR LIFE INSURANCE COMPANY**

(A Wholly Owned Subsidiary of Constellation Insurance, Inc.)

Notes to Statutory Financial Statements<br>December 31, 2024, 2023 and 2022<br>(Dollars in thousands)

*<u>Subsidiary Dividends</u>* 

The following table details the dividends received from each of the Company's subsidiaries and included in investment income for the years:

---

| | | | |
|:---|:---|:---|:---|
|  | **2024** | **2023** | **2022** |
| SUNR | $35752 | 88000 | 30027 |
| CINV |  | 8700 | 10300 |
| ALAC |  |  | 20000 |
|  | $35752 | 96700 | 60327 |

---

The payment of dividends by ALAC to ALIC is limited by Ohio insurance laws. The maximum dividend that may be paid without prior approval of the Director of Insurance is limited to the greater of ALAC's statutory net income of the preceding calendar year or 10% of statutory surplus as of the preceding December 31. Any dividend that exceeds the earned surplus of ALAC, even if it is within the above parameters, would be deemed extraordinary under Ohio law. Therefore, dividends of approximately $30,000 may be paid by ALAC to ALIC in 2025 without prior approval. ALAC declared and paid ordinary dividends to ALIC of $0, $0 and $20,000 in 2024, 2023 and 2022, respectively. No extraordinary dividends were declared or paid by ALAC to ALIC during 2024, 2023 or 2022.

The payment of dividends by CMGO to ALIC is limited by Ohio insurance laws. CMGO may pay to its stockholder, ALIC, a dividend from unassigned surplus at the end of any calendar quarter in which CMGO's unassigned surplus is equal to the amount required for CMGO to have company action level RBC of 200%, after adjusting its capital level and its RBC level for such dividend. No dividends were declared or paid by CMGO in 2024, 2023 or 2022.

The payment of dividends by SUNR to ALIC is limited by the SUNR plan of operations, which was approved by the Ohio Department of Insurance. SUNR declared an extraordinary dividend to ALIC of $25,000 as of December 31, 2022 that was paid in February 2023. SUNR declared and paid an extraordinary dividend of $63,000 to ALIC during 2023. Total extraordinary dividend payments to ALIC during 2023 were $88,000. SUNR declared and paid extraordinary dividends of $155,000 to ALIC during 2024. Due to dividend limitations, $35,752 was classified as a dividend with the remaining $119,248 classified as a return of capital. No ordinary dividends were paid by SUNR to ALIC during 2024, 2023 or 2022.

The payment of dividends by NSLAC to ALIC is limited by New York insurance laws. The maximum ordinary dividend that may be paid without prior approval of the Superintendent of Financial Services is limited to the lesser of 10% of NSLAC's statutory surplus (defined by New York Insurance Law, Section 4207a as page 3, line 37 of the Annual Statement) as of the immediate preceding calendar year or NSLAC's net gain from operations for the immediately preceding calendar year, not including realized capital gains. Therefore, dividends of approximately $5,000 may be paid by NSLAC to ALIC in 2025 without prior approval. No dividends were declared or paid by NSLAC in 2024, 2023 or 2022.

MONT and KENW are subject to limitations, imposed by the State of Vermont, on the payment of dividends to their stockholder, ALIC. Generally, dividends during any year may not be paid without prior regulatory approval. No dividends were declared or paid by MONT to ALIC in 2024, 2023 or 2022. No dividends were declared or paid by KENW to ALIC in 2024, 2023 or 2022.

**AUGUSTAR LIFE INSURANCE COMPANY**

(A Wholly Owned Subsidiary of Constellation Insurance, Inc.)

Notes to Statutory Financial Statements<br>December 31, 2024, 2023 and 2022<br>(Dollars in thousands)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(18)** **Additional Financial Instruments Disclosure** 

*Financial Instruments with Off Balance Sheet Risk*

The Company is a party to financial instruments with off balance sheet risk in the normal course of business through management of its investment portfolio. The Company had outstanding commitments to fund mortgage loans, bonds and limited partnerships of $1,229,792 and $186,414 as of December 31, 2024 and 2023, respectively. These commitments involve, in varying degrees, elements of credit and market risk in excess of amounts recognized in the statutory financial statements. The credit risk of all financial instruments, whether on or off balance sheet, is controlled through credit approvals, limits, and monitoring procedures.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(19)** **Contingencies** 

The Company and all other solvent life insurance companies are periodically assessed by certain state guaranty funds to cover losses to policyholders of insolvent or rehabilitated companies. Some of these assessments are partially recoverable through a reduction in future premium taxes in some states. In addition, the Company is subject to legal and regulatory proceedings in the ordinary course of its business. These include proceedings specific to the Company and proceedings generally applicable to business practices in the industry in which the Company operates. The outcomes of these proceedings cannot be predicted due to their complexity, scope and uncertainties. The Company believes, however, that based on currently known information, the ultimate outcome of all pending legal and regulatory proceedings as well as state guaranty fund assessments are not likely to have a material adverse effect on the Company's financial condition or results of operations.

The Company, along with its affiliates, are a party to two court cases stemming from the strategic changes announced in September 2018, specifically the termination of certain variable annuity selling agreements with broker dealers related to the annuity business. The core issue in both cases is a disputed interpretation of certain language in ALIC's contracts with the broker dealers who sold ALIC's annuities. One of the two cases purports to be on behalf of a class, and a motion for class certification has been filed, but no class has been certified. Thirteen previously pending court cases and nine previously pending Financial Industry Regulatory Authority ("FINRA") arbitrations have been resolved. The Company expects to continue to vigorously defend itself against these allegations. However, litigation is inherently uncertain and the outcome thereof cannot be predicted. Accordingly, it is possible that the ultimate outcome in one or more of the proceedings may be material to the Company's results of operations for a particular period depending upon, among other factors, the size of the loss and the level of the Company's results of operations for the period.

**AUGUSTAR LIFE INSURANCE COMPANY**

(A Wholly Owned Subsidiary of Constellation Insurance, Inc.)

Notes to Statutory Financial Statements<br>December 31, 2024, 2023 and 2022<br>(Dollars in thousands)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(20)** **Related-Party Transactions** 

On December 9, 2024 SYRE, with CII as the guarantor, entered into a $750,000 letter of credit facility agreement. The credit facility is established for the purpose of issuing letters of credit for support of reinsurance activity and will terminate in December 2029, with one-year extensions available until December 2034. SYRE secured a letter of credit of $150,000 with ALIC as beneficiary for reserve credit purposes as of December 31, 2024.

During the year ended December 31, 2024, SUNR returned capital to the Company of $119,248 (See Note 17 for additional information).

During 2023, the Company made capital contributions totaling $111,941 to ONFH to fund capital initiatives and operating activities of its subsidiaries. The majority of the contributions were to ALL in support of future capital initiatives. ALL will lend the funds to ONSA to contribute to ONSV for the acquisition of a block of annuity business from Zurich Insurance Group discussed in Note 1. In March 2024, ONFH returned contributed capital of $98,500 to be redeployed at a date closer to the closing of the acquisition. In September 2024, the Company made a capital contribution of $95,000 to ONFH to fund the acquisition.

During 2024, the Company made a capital contribution of $1,000 to CRHB as part of the formation of CRHB and CRBL discussed in Note 1.

During 2024 and 2023, the Company purchased $19,848 and $26,300, respectively, of CII's outstanding senior notes on the open market. The Company intends to hold these notes until maturity. The Company purchased the notes for $19,401 and $24,509, respectively. At December 31, 2024, the Company had Accrued investment income and unrealized gains within Unassigned surplus of $1,065 and $733, respectively, related to these notes on the Statutory Statements of Admitted Assets, Liabilities, and Capital and Surplus. At December 31, 2023, the Company had Accrued investment income and unrealized gains within Unassigned surplus of $477 and $622, respectively, related to these notes on the Statutory Statements of Admitted Assets, Liabilities, and Capital and Surplus.

The Company has a written agreement to provide services for personnel, data processing and supplies to ALAC, which either party may terminate upon a thirty-day notice. ALIC primarily uses multiple bases (head counts, salaries, number of policies, field compensation, time, reserve account balances, transaction counts, etc.) and believes they are reasonable for determining the expense charges. This agreement was approved by the Department. Generally, the apportionment is based upon specifically identifying the expense to the incurring entity. Where this is not feasible, apportionment is based upon pertinent factors and ratios. The terms call for a cash settlement at least quarterly. There is no assurance that these costs would be similar if the Company had to obtain such services on its own. This agreement resulted in services charges totaling $47,752, $59,377 and $55,984 in 2024, 2023 and 2022, respectively. These amounts include pension costs for the personnel furnished to the Company. At December 31, 2024 and 2023, ALIC owed ALAC $1,200, and ALAC owed ALIC $3,739, respectively.

The Company paid $4,990, $4,550 and $4,943 for rent and operating expenses of the home office to CII for the years ended December 31, 2024, 2023 and 2022, respectively.

**AUGUSTAR LIFE INSURANCE COMPANY**

(A Wholly Owned Subsidiary of Constellation Insurance, Inc.)

Notes to Statutory Financial Statements<br>December 31, 2024, 2023 and 2022<br>(Dollars in thousands)

During 2023, the Company transferred its ownership of several subsidiaries to CII through a dividend (see Note 1 and Note 17). Those entities are now affiliates of the Company. The Company is party to an investment management agreement with CINV, an affiliate, and an underwriting agreement with ADI, an affiliate. The amounts that ALIC owed to CINV and ADI as recorded on the Statutory Statements of Admitted Assets, Liabilities, and Capital and Surplus as of December 31 were as follows:

---

| | | |
|:---|:---|:---|
|  | **2024** | **2023** |
| ADI | $5085 | 4882 |
| CINV | 6715 |  |
| &nbsp;&nbsp;&nbsp;Total service charges owed | $11800 | 4882 |

---

Charges for all services from CINV and ADI for the years are as follows:

---

| | | |
|:---|:---|:---|
|  | **2024** | **2023** |
| ADI | $3878 | 3848 |
| CINV | 17731 |  |
| &nbsp;&nbsp;&nbsp;Total service charges incurred | $21609 | 3848 |

---

CII provides services for executive management and data processing equipment placed in service after December 31, 2000, to ALIC. For the years ended December 31, 2024, 2023 and 2022, ALIC recorded expenses of $17,622, $32,131 and $24,676, respectively, for these services.

The Company is a party to an agreement with CIHI and most of its direct and indirect subsidiaries whereby ALIC maintains a common checking account. It is ALIC's duty to maintain sufficient funds to meet the reasonable needs of each party on demand. ALIC must account for the balances of each party daily. Such funds are deemed to be held in escrow by ALIC for the other parties. Settlement is made daily for each party's needs to or from the common account. It is ALIC's duty to invest excess funds in an interest-bearing account and/or short-term highly liquid investments. ALIC will credit interest monthly at the average interest earned for positive cash balances during the period or charge interest on any negative balances. Interest credited for the years ended December 31, 2024, 2023 and 2022 was $15,057, $1,514 and $69, respectively. The parties agree to indemnify one another for any losses of any nature relating to a party's breach of its duties under the terms of the agreement.

**AUGUSTAR LIFE INSURANCE COMPANY**

(A Wholly Owned Subsidiary of Constellation Insurance, Inc.)

Notes to Statutory Financial Statements<br>December 31, 2024, 2023 and 2022<br>(Dollars in thousands)

The Company held the following balances for the participating entities in payable to parent, subsidiaries and affiliates as of December 31:

---

| | | |
|:---|:---|:---|
|  | **2024** | **2023** |
| CIHI | $(293) | 167 |
| CII | 101898 | 74156 |
| ALAC | 32426 | 12605 |
| MONT | (6889) | (5677) |
| KENW | (21114) | 544 |
| CMGO | 3463 | 4847 |
| SYRE | 118586 | 91527 |
| SUNR | 2640 | 20284 |
| CINV |  | 7344 |
| ONTech, LLC | 15344 | (1433) |
| ON Foreign Holdings, LLC | (3408) | (1637) |
| Financial Way Realty, Inc. | 91 | 329 |
| &nbsp;&nbsp;&nbsp;Total | $242744 | 203056 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(21)** **Accounting Changes and Corrections of Errors** 

The Company's December 31, 2024 financial statements reflect the correction of a prior period error relating to the recording of expenses identified during the implementation of a new reconciliation software. The events contributing to the understatement of expenses impact surplus as follows:

---

| | |
|:---|:---|
| General insurance expenses | $(2212) |
| Federal and foreign income taxes incurred (excluding taxes on capital gains) | 465 |
| Decrease in surplus | $(1747) |

---

The Company's December 31, 2022 statutory financial statements reflect the correction of a prior period error relating to the recording of premiums assumed from KENW. The events contributing to the adjustment impact surplus as follows:

---

| | |
|:---|:---|
| Premiums and annuity considerations for life and accident and health contracts | $1165 |
| Federal and foreign income taxes incurred (excluding taxes on capital gains) | (244) |
| Increase in surplus | $921 |

---

**AUGUSTAR LIFE INSURANCE COMPANY**

(A Wholly Owned Subsidiary of Constellation Insurance, Inc.)

Notes to Statutory Financial Statements<br>December 31, 2024, 2023 and 2022<br>(Dollars in thousands)

The cumulative prior period surplus impact of these errors is shown as a direct adjustment to surplus within the Statutory Statements of Changes in Capital and Surplus. SSAP No. 3R, *Accounting Changes and Corrections of Errors*, prescribes that if a reporting entity becomes aware of a material accounting error in a previously filed financial statement after it has been submitted to the appropriate regulatory agency, the entity shall file an amended financial statement unless otherwise directed by the domiciliary regulator. Correction of all immaterial accounting errors in previously issued statutory financial statements, for which an amended financial statement was not filed, shall be reported as adjustments to unassigned funds (surplus) in the period an error is detected.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(22)** **Reconciliation to 2024 Annual Statement** 

The Company's net cash provided by (used in) operations, net cash used in investing activities and net cash provided by financing do not agree to the amounts reported in the Company's 2024 Statutory Annual Statement. The audited Statutory Statement of Cash Flows included herein differs from the Annual Statement Cash Flow statement because of a reclassification made with respect to noncash transactions associated with asset transfers, funds withheld activity other miscellaneous adjustments. There is no difference between the audited Statutory financial statements and the Annual Statement filing with respect to cash, cash equivalents and short-term investments at December 31, 2024 as a result of these adjustments.

The following table reconciles net cash from operations, investing and financing from the Annual Statement to the accompanying audited Statutory Statement of Cash Flows for the year ended December 31, 2024 (using classifications and titles from the audited statement and referencing Annual Statement page and line numbers):

---

| | | | |
|:---|:---|:---|:---|
|  | **As filed in <br> Annual <br> Statement** | **Adjustment** | **As presented in <br> audited <br> statements** |
| Cash flow from operations: |  |  |  |
| &nbsp;&nbsp;&nbsp;Premiums collected net of reinsurance (P5, L1) | $2727140 |  | 2727140 |
| &nbsp;&nbsp;&nbsp;Miscellaneous income (P5, L3) | 126068 | (67000) | 59068 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Premiums, other considerations, and fund deposits | 2853208 | (67000) | 2786208 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Totals (P5, L4) | 3287315 | (67000) | 3220315 |
| &nbsp;&nbsp;&nbsp;Commissions, expenses paid and aggregate write-ins for deductions (P5, L7) | 518233 | 2212 | 520445 |
| &nbsp;&nbsp;&nbsp;Federal and foreign income taxes paid (recovered) net of tax on capital gains (losses) (P5, L9) | (19920) | (465) | (20385) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Commissions, taxes, and other expenses | 498313 | 1747 | 500060 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Totals (P5, L10) | 1234561 | 1747 | 1236308 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net cash from operations (P5, L11) | 2052754 | (68747) | 1984007 |

---

(continued on next page)

**AUGUSTAR LIFE INSURANCE COMPANY**

(A Wholly Owned Subsidiary of Constellation Insurance, Inc.)

Notes to Statutory Financial Statements<br>December 31, 2024, 2023 and 2022<br>(Dollars in thousands)

---

| | | | |
|:---|:---|:---|:---|
|  | **As filed in <br> Annual <br> Statement** | **Adjustment** | **As presented in <br> audited <br> statements** |
| Cash flow from investing activities: |  |  |  |
| &nbsp;&nbsp;&nbsp;Proceeds from investments sold, matureed, or repaid: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Other invested assets (P5, L12.5) | 239983 | (165130) | 74853 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Miscellaneous proceeds (P5, L12.7) | 70340 |  | 70340 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Other | 310323 | (165130) | 145193 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total investment proceeds (P5, L12.8) | 2478978 | (165130) | 2313848 |
| &nbsp;&nbsp;&nbsp;Cost of investments acquired |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Bonds (P5, L13.1) | 3591909 | (208094) | 3383815 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Mortgage loans (P5, L13.3) | 634460 | (27581) | 606879 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Other invested assets (P5, L13.5) | 237666 |  | 237666 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Miscellaneous applications (P5, L13.6) | 154650 | 6750 | 161400 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Other | 392316 | 6750 | 399066 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total investments acquired (P5, L13.7) | 4716441 | (228925) | 4487516 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net cash from investments (P5, L15) | (2247509) | 63795 | (2183714) |
| Cash flow from financing and other miscellaneous sources: |  |  |  |
| &nbsp;&nbsp;&nbsp;Other cash provided (applied) (P5, L16.6) | 143401 | 4952 | 148353 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net cash provided by financing (P5, L17) | 28910 | 4952 | 33862 |
| Supplemental disclosures of cash flow information for non-cash transactions: |  |  |  |
| &nbsp;&nbsp;&nbsp;Amortization of deferred gain on reinsurance agreements (P5, L20.09) | 23855 | 49811 | 73666 |
| &nbsp;&nbsp;&nbsp;Funds held under reinsurance agreement, net (P5, L20.10) | 87120 | (81183) | 5937 |
| &nbsp;&nbsp;&nbsp;Transfer of bonds from other invested assets (P5, L20.12) |  | (93648) | (93648) |
| &nbsp;&nbsp;&nbsp;Other investment asset adjustments for transfers (P5, L20.13) |  | 165130 | 165130 |

---

**Schedule I**

**AUGUSTAR LIFE INSURANCE COMPANY**

(A Wholly Owned Subsidiary of Constellation Insurance, Inc.)

Summary of Investments – Other Than Investments in Related Parties

December 31, 2024

(Dollars in thousands)

---

| | | | |
|:---|:---|:---|:---|
| **Column A** | **Column B** | **Column C** | **Column D** |
| **Type of investment** | **Cost** | **Market <br> value** | **Amount at<br> which shown<br> in the**<br> **balance sheet<sup>1</sup>** |
| Fixed maturity available-for-sale securities: |  |  |  |
| &nbsp;&nbsp;&nbsp;Bonds: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;U.S. Treasury securities and obligations of U.S. government | $617411 | 604282 | 617411 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Obligations of states and political subdivisions | 811418 | 634799 | 811418 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Debt securities issued by foreign governments | 6999 | 5151 | 6999 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Corporate securities | 4798226 | 4140447 | 4798226 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Asset-backed securities | 1178552 | 1156168 | 1178552 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Mortgage-backed securities | 300381 | 291935 | 300381 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total fixed maturity available-for-sale securities | 7712987 | 6832782 | 7712987 |
| Equity securities at fair value: |  |  |  |
| &nbsp;&nbsp;&nbsp;Common stocks: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Industrial, miscellaneous, and all other | 526326 | 840814 | 840814 |
| &nbsp;&nbsp;&nbsp;Nonredeemable preferred stocks | 16552 | 15951 | 16552 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total equity securities at fair value | 542878 | 856765 | 857366 |
| Mortgage loans on real estate, net | 1669672 |  | 1669672 |
| Real estate, net: |  |  |  |
| &nbsp;&nbsp;&nbsp;Investment properties | 23493 |  | 23493<sup>2</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total real estate, net | 23493 |  | 23493 |
| Contract loans | 936013 |  | 936013 |
| Other long-term investments<sup>3</sup> | 500592 |  | 541907<sup>4</sup> |
| Receivable for securities | 9985 |  | 9985 |
| Receivable for collateral | 30170 |  | 30170 |
| Cash and cash equivalents | 569933 |  | 569933 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total investments | $11995723 |  | 12351526 |

---

<sup>1</sup> See Statutory Statements of Admitted Assets, Liabilities, and Capital and Surplus

<sup>2</sup> Difference from Column B is due to adjustments for accumulated depreciation.

<sup>3</sup> Included in totals are Derivatives and Other Invested Assets.

<sup>4</sup> Difference from Column B is due to operations gains and/or losses of investments in limited partnerships and to unrealized gains and/or losses of investments in hedging operations.

See accompanying report of independent registered public accounting firm.

**Schedule III**

**AUGUSTAR LIFE INSURANCE COMPANY** 

(A Wholly Owned Subsidiary of Constellation Insurance, Inc.)

Supplementary Insurance Information

Years ended December 31, 2024, 2023 and 2022

(Dollars in thousands)

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Column A** | **Column B** | **Column C** | **Column D** | **Column E** | **Column F** |
| **Year segment** | **Deferred<br> policy** <br> **acquisition** <br> **costs<sup>1</sup>** | **Future policy** <br> **benefits, losses,** <br> **claims, and** <br> **loss expenses** | **Unearned** <br> **premiums** | **Other policy** <br> **claims and** <br> **benefits payable** | **Premium** <br> **revenue** |
| 2024: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Individual life insurance | $— | 646828 | 89 | 44714 | 155991 |
| &nbsp;&nbsp;&nbsp;Pension and annuities |  | 2957684 |  | 816 | (435374) |
| &nbsp;&nbsp;&nbsp;Other insurance |  | 20280 | 56 | 658 | 3964 |
| &nbsp;&nbsp;&nbsp;Corporate |  |  |  |  | (1) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total | $— | 3624792 | 145 | 46188 | (275420) |
| 2023: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Individual life insurance | $— | 668639 | 56 | 48943 | 172266 |
| &nbsp;&nbsp;&nbsp;Pension and annuities |  | 3136459 |  | (1549) | 11159335 |
| &nbsp;&nbsp;&nbsp;Other insurance |  | 20462 | 47 | 661 | 4335 |
| &nbsp;&nbsp;&nbsp;Corporate |  |  |  |  | 184 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total | $— | 3825560 | 103 | 48055 | 11336120 |
| 2022: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Individual life insurance | $— | 700004 | 81 | 50732 | 560698 |
| &nbsp;&nbsp;&nbsp;Pension and annuities |  | 1759963 |  | 506 | (414134) |
| &nbsp;&nbsp;&nbsp;Other insurance |  | 21716 | 52 | 679 | 4677 |
| &nbsp;&nbsp;&nbsp;Corporate |  |  |  |  | 58 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total | $— | 2481683 | 133 | 51917 | 151299 |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Column A** | **Column G** | **Column H** | **Column I** | **Column J** | **Column K** |
| **Year segment** | **Net** <br> **investment** <br> **income<sup>2</sup>** | **Benefits,** <br> **claims, losses** <br> **and** <br> **settlement** <br> **expenses<sup>3</sup>** | **Amortization** <br> **of deferred** <br> **policy** <br> **acquisition** <br> **costs<sup>1</sup>** | **Other** <br> **operating** <br> **expenses<sup>2</sup>** | **Premiums** <br> **written<sup>4</sup>** |
| 2024: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Individual life insurance | $161903 | 168524 |  | 38589 |  |
| &nbsp;&nbsp;&nbsp;Pension and annuities | 276940 | 1723940 |  | 374382 |  |
| &nbsp;&nbsp;&nbsp;Other insurance | 1116 | 2874 |  | 1625 |  |
| &nbsp;&nbsp;&nbsp;Corporate | 11736 | 37902 |  | 58965 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total | $451695 | 1933240 |  | 473561 |  |
| 2023: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Individual life insurance | $163323 | 182704 |  | 48999 |  |
| &nbsp;&nbsp;&nbsp;Pension and annuities | 133575 | 13201828 |  | 377292 |  |
| &nbsp;&nbsp;&nbsp;Other insurance | 1324 | 2781 |  | 2024 |  |
| &nbsp;&nbsp;&nbsp;Corporate | 80324 | 9353 |  | 78445 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total | $378546 | 13396666 |  | 506760 |  |
| 2022: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Individual life insurance | $155089 | 732303 |  | 80096 |  |
| &nbsp;&nbsp;&nbsp;Pension and annuities | 112728 | 1254047 |  | 113186 |  |
| &nbsp;&nbsp;&nbsp;Other insurance | 1717 | 3289 |  | 2880 |  |
| &nbsp;&nbsp;&nbsp;Corporate | 86157 | 15857 |  | 100041 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total | $355691 | 2005496 |  | 296203 |  |

---

<sup>1</sup> Acquisition costs are not capitalized under statutory accounting.

<sup>2</sup> Allocations of net investment and certain operating expenses are based on numerous assumptions and estimates, and reported segment operating results would change if different methods were applied.

<sup>3</sup> Policyholders' dividends on participating policies are included in Column H amounts.

<sup>4</sup> Not applicable for life insurance companies.

See accompanying report of independent registered public accounting firm.

**Schedule IV**

**AUGUSTAR LIFE INSURANCE COMPANY**

(A Wholly Owned Subsidiary of Constellation Insurance, Inc.)

Reinsurance

Years ended December 31, 2024, 2023 and 2022

(Dollars in thousands)

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Column A** | **Column B** | **Column C** | **Column D** | **Column E** | **Column F** |
|  | **Gross <br> amount** | **Ceded to <br> other <br> companies** | **Assumed <br> from other <br> companies** | **Net <br> amount** | **Percentage <br> of amount <br> assumed <br> to net** |
| 2024: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Life insurance in force | $18433030 | 79612778 | 74398055 | 13218307 | 562.8% |
| &nbsp;&nbsp;&nbsp;Premiums: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Life insurance | 408589 | 366289 | 113690 | 155990 | 72.9% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pension and annuities | 2844443 | 1945607 | (1334210) | (435374) | 306.5% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Accident and health insurance | 7874 | 3910 |  | 3964 | —% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total | $3260906 | 2315806 | (1220520) | (275420) | 443.1% |
| 2023: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Life insurance in force | $20689309 | 87281315 | 80159077 | 13567071 | 590.8% |
| &nbsp;&nbsp;&nbsp;Premiums: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Life insurance | 454011 | 394873 | 113312 | 172450 | 65.7% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pension and annuities | 1180258 | 267467 | 10246544 | 11159335 | 91.8% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Accident and health insurance | 8603 | 4268 |  | 4335 | —% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total | $1642872 | 666608 | 10359856 | 11336120 | 91.4% |
| 2022: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Life insurance in force | $24434926 | 96456288 | 86174978 | 14153616 | 608.9% |
| &nbsp;&nbsp;&nbsp;Premiums: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Life insurance | 645816 | 197989 | 112929 | 560756 | 20.1% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pension and annuities | 402276 | 819413 | 3003 | (414134) | (0.7)% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Accident and health insurance | 9390 | 4713 |  | 4677 | —% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total | $1057482 | 1022115 | 115932 | 151299 | 76.6% |

---

See accompanying report of independent registered public accounting firm.

**Schedule V**

**AUGUSTAR LIFE INSURANCE COMPANY**

(A Wholly Owned Subsidiary of Constellation Insurance, Inc.)

Valuation and Qualifying Accounts

Years ended December 31, 2024, 2023 and 2022<br>(Dollars in thousands)

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Column A** | **Column B** | **Column C** | **Column C** | **Column D** | **Column E** |
| **Description** | **Balance at** <br> **beginning** <br> **of period** | **Charged** <br> **(credited) to** <br> **costs and** <br> **expenses** | **Charged to** <br> **other** <br> **accounts** | **Deductions** | **Balance at** <br> **end of** <br> **period** |
| 2024: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Valuation allowances – None | $— |  |  |  |  |
| 2023: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Valuation allowances – None | $— |  |  |  |  |
| 2022: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Valuation allowances – None | $— |  |  |  |  |

---

See accompanying report of independent registered public accounting firm.

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Enterprise Assumptions ($ in millions)** | |  | |  | |  |
| **Enterprise Sales** | **2025** |  | **2026** |  | **2027** |  |
| **Total Individual Life** | $**42** |  | **68** |  | **99** |  |
| **Total Annuity** | $**2500** |  | **3087** |  | **4016** |  |
| **Total Latin America** | $**108** |  | **139** |  | **171** |  |
| **Total FABN** | $**600** |  | **1100** |  | **1200** |  |
| **Total FHLB** | $**560** |  | **300** |  | **-** |  |
| **Market Performance** |  |  |  |  |  |  |
| **S&P 500 Change** | **7.65** | **%** | **7.65** | **%** | **7.65** | **%** |
| **10 Year Treasury** | **4.65** | **%** | **4.72** | **%** | **4.78** | **%** |
| **Other Assumptions** |  |  |  |  |  |  |
| **Lapse (Surrenders as % of Face/AV)** | **2.94** | **%** | **2.72** | **%** | **2.67** | **%** |
| **Mortaity (Death Benefit as % of Face/AV)** | **0.48** | **%** | **0.53** | **%** | **0.58** | **%** |
| **Net spread** | **200** | **bps** | **200** | **bps** | **200** | **bps** |
| **Dividends to CII** | $**206** |  | **204** |  | **206** |  |
| **Dividends to CIHI for Preferred Shareholders Dividend** | $**45** |  | **45** |  | **45** |  |

---

Financial statements reflective of results of operations and financial position of the surviving entity post merger.

---

| | |
|:---|:---|
| **Applicant Company Name:** | **Augustar Life Insurance Company** |

---

**(Life, Accident, and Health Insurance Company)**

**Pro Forma Statutory Balance Sheet**

**(In Whole Numbers)**

---

| | | | | |
|:---|:---|:---|:---|:---|
|  |  | **2025** | **2026** | **2027** |
|  | **<u>Admitted Assets</u>** |  |  |  |
| 1. | Bonds | 11893733736 | 14539764308 | 16885356297 |
| 2. | Stocks (Preferred and Common) | 499499041 | 646381999 | 780783252 |
| 3. | Real Estate/Mortgage Loans on Real Estate | 2723962228 | 3329969349 | 3867168526 |
| 4. | Cash/Cash Equivalents/Short-Term Investments | 91713063 | 92461491 | 92957430 |
| 5. | Other Invested Assets | 1927790383 | 2153391837 | 2350661395 |
| 6. | Aggregate Write-Ins for Invested Assets | 37093780 | 45346132 | 52661487 |
| 7. | Separate Account Assets | 12097801792 | 11153548752 | 10722481184 |
| 8. | All Other Assets | 1000320256 | 993765640 | 987128897 |
| 9. | Total Assets (1+2+3+4+5+6+7+8) | **30271914281** | **32954629507** | **35739198467** |
|  | **<u>Liabilities</u>** |  |  |  |
| 10. | Reserve for Life Contracts | 5681586226 | 5817794483 | 5700841625 |
| 11. | Reserve for Accident and Health Contracts | 124025353 | 126998691 | 124445686 |
| 12. | Contract Claims (Life and Accident and Health) | 36522964 | 37398552 | 36646744 |
| 13. | Other Amounts Payable on Reinsurance | 160524195 | 161834783 | 165417447 |
| 14. | Payable to Parents, Subsidiaries & Affiliates | 272520130 | 274745099 | 280827349 |
| 15. | All Other Liabilities | 9650429931 | 13158716010 | 16656741527 |
| 16. | Asset Valuation Reserve (AVR) | 217298783 | 217298783 | 217298783 |
| 17. | Separate Account Liabilities | 12097801792 | 11153548752 | 10722481184 |
| 18 | Total Liabilities (10+11+12+13+14+15+16+17) | 28240709375 | 30948335153 | 33904700345 |
|  | **<u>Capital and Surplus</u>** |  |  |  |
| 19. | Capital Stock | 10000000 | 10000000 | 10000000 |
| 20. | Gross Paid In and Contributed Surplus | 1200000000 | 1324800000 | 1325000000 |
| 21. | Surplus Notes | 308157502 | 308157502 | 308157502 |
| 22. | Unassigned Surplus | 513047404 | 363336851 | 191340620 |
| 23. | Aggregate Write-Ins for Other-Than-Special Surplus Funds |  |  |  |
| 24. | Aggregate Write-Ins for Special Surplus Funds |  |  |  |
| 25. | Less Treasury Stock (Common and Preferred) |  |  |  |
| 26. | Surplus (19+20+21+22+23+24-25) | 2031204906 | 2006294353 | 1834498122 |
| 27. | **Liabilities and Surplus (18+26)** | **30271914281** | **32954629507** | **35739198467** |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
|  |  | **Risk-Based Capital Analysis** | **Risk-Based Capital Analysis** | **Risk-Based Capital Analysis** |
| 27. | Authorized Control Level Risk-Based Capital | 239919800 | 252792639 | 255488036 |
| 28. | Calculated Risk-Based Capital (26+16/27) | 937.2% | 879.6% | 803.1% |

---

---

| | |
|:---|:---|
| **Applicant Company Name:** | **Augustar Life Insurance Company** |

---

**(Life, Accident, and Health Insurance Company)**

**Pro Forma Statutory Profit & Loss Statement**

**(In Whole Dollars)**

---

| | | | | |
|:---|:---|:---|:---|:---|
|  |  | **2025** | **2026** | **2027** |
| 1. | Net Premiums (All Business) | 1974394713 | 2131507004 | 2258314321 |
| 2. | Net Investment Income | 759985002 | 1032303236 | 1252457998 |
| 3. | Reinsurance Ceding Commissions | 205785646 | 200594686 | 195022052 |
| 4. | Miscellaneous Income | (1692952595) | (1844174205) | (1958754141) |
| 5. | Total (1+2+3+4) | **1247212766** | **1520230721** | **1747040230** |
| 6. | Death Benefits | 183119877 | 181262180 | 178539972 |
| 7. | Matured Endowments | 875920 | 928358 | 968443 |
| 8. | Annuity Benefits | 103708470 | 109917144 | 114663183 |
| 9. | Accident and Health Policy Benefits | 16970593 | 16793024 | 16536061 |
| 10. | Surrender Benefits and Other Fund Withdrawals | 409035320 | 433522874 | 452241670 |
| 11. | Group Conversions |  |  |  |
| 12. | Interest on Policy and Contract Funds | 64718761 | 68593253 | 71554996 |
| 13. | Commissions on Premiums, and Annuity Considerations (Direct Business Only) | 91273345 | 92269412 | 105574588 |
| 14. | Commissions and Expense Allowances on Reinsurance Assumed | 8484889 | 8577485 | 9814351 |
| 15. | Increase in Aggregate Reseves | (156368714) | (153255261) | (112894402) |
| 16. | Net Transer (to) or from Separate Accounts Net of Reinsurance | (1617385999) | (1500411342) | (1411076483) |
| 17. | Other Expenses \* | 2016166998 | 2123083810 | 2205287155 |
| 18. | Total Expenses (sum6…17) | **1120599460** | **1381280937** | **1631209534** |
| 19. | Net Gain (Loss) from Operations Before Dividends and Federal Income Taxes (5-18) | 126613306 | 138949783 | 115830696 |
| 20. | Federal Income Taxes | 8113476 | 11319986 | 8814682 |
| 21. | Net Realized Capital Gains (Losses) | (6182218) | (5992196) | (5779156) |
| 22. | Less Capital Gains Tax |  |  |  |
| 23. | Net Income((19-20)+(21-22)) | **112317612** | **121637601** | **101236857** |
| 24. | Prior YE Surplus | 2025701937 | 2031204906 | 2006294353 |
| 25. | Net Income | 112317612 | 121637601 | 101236857 |
| 26. | Capital Increases | 125000000 | 125000000 |  |
| 27. | Other Increases (Decreases) | (25814643) | (66548154) | (69033088) |
| 28. | Dividends to Stockholders | 206000000 | 205000000 | 204000000 |
| 29. | YE Surplus | **2031204906** | **2006294353** | **1834498122** |

---

\* Itemize in Assumptions

---

| | |
|:---|:---|
| **Applicant Company Name:** | **Augustar Life Insurance Company** |

---

**(Life, Accident, and Health Insurance Company)**

**Pro Forma Statutory Cash Flow Statement**

**(In Whole Dollars)**

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Cash From Operations** | **2025** | **2026** | **2027** |
| 1. | Premiums Collected Net of Reinsurance | 2377551145 | 2607606182 | 2798585531 |
| 2. | Net Investment Income | 731884538 | 994133799 | 1206148334 |
| 3. | Miscellaneous Income | 159960848 | 148564468 | 140280536 |
| 4. | Benefit and Loss Related Payments | 2851747301 | 3008457719 | 3126827050 |
| 5. | Net Transfers to Separate Accounts, Segrated Accounts and Protected Cell Accounts | (1693235926) | (1570775554) | (1477251192) |
| 6. | Commissions, Expenses Paid and Aggregate Write-Ins for Deductions | 229704907 | 227266014 | 239586473 |
| 7. | Dividends Paid to Policyholders | 51697935 | 50663976 | 49650697 |
| 8. | Federal and Foreign Income Taxes Paid (Recovered) |  |  |  |
| 9. | Net Cash From Operations (1+2+3-4-5-6-7-8) | **1829482313** | **2034692293** | **2206201372** |
|  | **Cash From Investments** |  |  |  |
| 10. | Net Cash from Investments | **(2345936699)** | **(2041065501)** | **(2097517456)** |
|  | **Cash From Financing and Miscellaneous Sources** |  |  |  |
| 11. | Surplus Notes, Capital Notes |  |  |  |
| 12. | Capital and Paid in Surplus, Less Treasury Stock | 125000000 | 125000000 |  |
| 13. | Borrowed Funds |  |  |  |
| 14. | Net Deposits on Deposit-Type Contracts and Other Insurance Liabilities | (53502455) | (50827333) | (48285966) |
| 15. | Dividends to Stockholders | 206000000 | 205000000 | 204000000 |
| 16. | Other Cash Provided (Applied) | 131379969 | 137948968 | 144846416 |
| 17. | Net Cash from Financing and Miscellaneous Sources (11+12+13+14-15+16) | **(3122486)** | **7121635** | **(107439550)** |
| 18. | Net Change in Cash, Cash Equivalents and Short - Term Investments (9+10+17) | (519576871) | 748428 | 1244367 |

---

---

| | |
|:---|:---|
| **Applicant Company Name:** | **Augustar Life Insurance Company** |

---

**(Life, Accident, and Health Insurance Company)**

**Analysis of Operations by Line of Business**

**(In Whole Dollars)**

**Nationwide**

---

| | |
|:---|:---|
| **Year 1** | 2025 |

---

---

| | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  |  | | **Ordinary** | **Ordinary** | **Ordinary** | | **Group** | **Group** | **Accident and Health** | **Accident and Health** | **Accident and Health** | |
|  |  |<br>**Total** | **Life <br> Insurance** | **Individual <br> Annuities** | **Supplementary <br> Contracts** |<br>**Credit Life<br> (Group & Individual)** | **Life Insurance (a)** | **Annuities** | **Group** | **Credit <br> (Group and Individual)** | **Other** |<br>**Aggregate of All Other Lines Business** |
| 1. | Net Premiums (All Business) | 1974394714 | 216145712 | 1704620845 |  |  |  | 23593691 |  |  | 30034466 |  |
| 2. | Net Investment Income | 759985002 | 343813071 | 314398963 |  |  | 53538 | 79977330 |  |  | 8995270 | 12746828 |
| 3. | Reinsurance Cededing Commissions | 205785646 | 55769447 | 148170485 |  |  |  |  |  |  | 1845714 |  |
| 4. | Miscellaneous Income | (1692952595) | 27453604 | (1723251633) |  |  |  | 2978910 |  |  | (132030) | (1447) |
| 5. | Total Revenue (1+2+3+4) | **1247212766** | **643181835** | **443938661** | **-** |  | **53538** | **106549931** |  |  | 40743421 | 12745381 |
| 6. | Death Benefits | 183119877 | 182206316 |  | 829656 |  | 83905 |  |  |  | **-** | **-** |
| 7. | Matured Endowments | 875920 | 875920 |  |  |  |  |  |  |  | **-** | **-** |
| 8. | Annuity Benefits | 103708470 |  | 74484461 |  |  |  | 29224010 |  |  | **-** | **-** |
| 9. | Accident and Health Policy Benefits | 16970593 | 1013973 |  |  |  |  |  |  |  | **15956620** | **-** |
| 10. | Surrender Benefits and Other Fund Withdrawals | 409035320 | 184463711 | 23472242 |  |  |  | 201099367 |  |  | **-** | **-** |
| 11. | Group Conversions |  |  |  |  |  |  |  |  |  | **-** | **-** |
| 12. | Interest Policy and Contract Funds | 64718761 | 3864619 | 2473742 |  |  |  | 58380400 |  |  | **-** | **-** |
| 13. | Commissions on Premiums, Annuity Considerations Direct Business Only) | 91273345 | 11458627 | 77723923 |  |  |  | 416546 |  |  | **1674249** | **-** |
| 14. | Commissions and Expense Allowances on Reinsurance Assumed | 8484889 | 1082161 | 7401404 |  |  |  |  |  |  | **1325** | **-** |
| 15. | Increase in Aggregate Reserves | (156368714) | 7411986 | (163793991) |  |  | 61155 | 1328575 |  |  | **(1376441)** | **-** |
| 16. | Net Transfers to or (from) Separate Accounts Net of Reinsurance | (1617385999) | (13725692) | (1533071215) |  |  |  | (70589092) |  |  | **-** | **-** |
| 17. | Other Expenses | 2011016892 | 256539461 | 1625146234 |  |  | - | 2709208 |  |  | **11180335** | **115441655** |
| 18. | Total Expenses (sum6...17) | **1115449354** | **635191081** | **113836800** | **829656** |  | **145060** | **222569015** |  |  | **27436087** | **115441655** |
| 19. | Net Gain (Loss) from Operations Before Dividends to and Federal Income Taxes (5-18) | **131763413** | **7990754** | **330101860** | **(829656)** |  | **(91522)** | **(116019084)** |  |  | **13307333** | **(102696273)** |
| 20. | Federal Income Taxes | 8113476 | 8001000 | 365056 |  |  | 793 | 1512537 |  |  | **1648627** | **(3414537)** |
| 21. | Net Realized Capital Gains (Losses) | (6182218) |  |  |  |  |  |  |  |  |  | **(6182218)** |
| 22. | Less Capital Gains Tax |  |  |  |  |  |  |  |  |  |  |  |
| 23. | Net Income((19-20)+(21-212) | **117467718** | **(10246)** | **329736805** | **(829656)** |  | **(92315)** | **(117531621)** |  |  | **11658706** | **(105463955)** |
| 24. | Dividends to Stockholders | 5150106 | 4026253 |  |  |  |  |  |  |  | **1123853** |  |

---

---

| | |
|:---|:---|
| **Applicant Company Name:** | **Augustar Life Insurance Company** |

---

**(Life, Accident, and Health Insurance Company)**

**Analysis of Operations by Line of Business**

**(In Whole Dollars)**

**Nationwide**

---

| | |
|:---|:---|
| **Year 2** | 2026 |

---

---

| | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  |  | | **Ordinary** | **Ordinary** | **Ordinary** | | **Group** | **Group** | **Accident and Health** | **Accident and Health** | **Accident and Health** | |
|  |  |<br>**Total** | **Life <br> Insurance** | **Individual <br> Annuities** | **Supplementary <br> Contracts** |<br>**Credit Life<br> (Group & Individual)** | **Life Insurance (a)** | **Annuities** | **Group** | **Credit <br> (Group and Individual)** | **Other** |<br>**Aggregate of All Other Lines Business** |
| 1. | Net Premiums (All Business) | 2131507004 | 221909722 | 1855431552 |  |  |  | 25624611 |  |  | **28541119** |  |
| 2. | Net Investment Income | 1032303236 | 467008356 | 427054569 |  |  | 72722 | 108634850 |  |  | **12218460** | **17314279** |
| 3. | Reinsurance Cededing Commissions | 200594686 | 54362658 | 144432872 |  |  |  |  |  |  | **1799156** |  |
| 4. | Miscellaneous Income | (1844174205) | 25497678 | (1872314593) |  |  |  | 2766678 |  |  | **(122623)** | **(1344)** |
| 5. | Total Revenue (1+2+3+4) | **1520230721** | **768778414** | **554604399** | **-** |  | **72722** | **137026140** |  |  | **42436111** | **17312935** |
| 6. | Death Benefits | 181262180 | 180299828 |  | 879325 |  | 83027 |  |  |  | **-** |  |
| 7. | Matured Endowments | 928358 | 928358 |  |  |  |  |  |  |  | **-** |  |
| 8. | Annuity Benefits | 109917144 |  | 78943592 |  |  |  | 30973552 |  |  | **-** |  |
| 9. | Accident and Health Policy Benefits | 16793024 | 1003363 |  |  |  |  |  |  |  | **15789661** |  |
| 10. | Surrender Benefits and Other Fund Withdrawals | 433522874 | 195506926 | 24877446 |  |  |  | 213138502 |  |  | **-** |  |
| 11. | Group Conversions |  |  |  |  |  |  |  |  |  | **-** |  |
| 12. | Interest Policy and Contract Funds | 68593253 | 4095980 | 2621837 |  |  |  | 61875436 |  |  | **-** |  |
| 13. | Commissions on Premiums, Annuity Considerations Direct Business Only) | 92269412 | 11583675 | 78572125 |  |  |  | 421092 |  |  | **1692520** |  |
| 14. | Commissions and Expense Allowances on Reinsurance Assumed | 8577485 | 1093970 | 7482175 |  |  |  |  |  |  | **1339** |  |
| 15. | Increase in Aggregate Reserves | (153255261) | 7264407 | (160532693) |  |  | 59938 | 1302122 |  |  | **(1349034)** |  |
| 16. | Net Transfers to or (from) Separate Accounts Net of Reinsurance | (1500411342) | (12733005) | (1422194480) |  |  |  | (65483857) |  |  | **-** |  |
| 17. | Other Expenses | 2118230789 | 267213190 | 1718555030 |  |  |  | 2635664 |  |  | **11399846** | **118427059** |
| 18. | Total Expenses (sum6...17) | **1376427916** | **656256693** | **328325033** | **879325** |  | **142964** | **244862511** |  |  | **27534331** | **118427059** |
| 19. | Net Gain (Loss) from Operations Before Dividends to and Federal Income Taxes (5-18) | **143802805** | **112521721** | **226279366** | **(879325)** |  | **(70243)** | **(107836371)** |  |  | **14901780** | **(101114124)** |
| 20. | Federal Income Taxes | 11319986 | 11163059 | 509329 |  |  | 1106 | 2110304 |  |  | **2300178** | **(4763989)** |
| 21. | Net Realized Capital Gains (Losses) | (5992196) |  |  |  |  |  |  |  |  |  | **(5992196)** |
| 22. | Less Capital Gains Tax |  |  |  |  |  |  |  |  |  |  |  |
| 23. | Net Income((19-20)+(21-212) | **126490622** | **101358662** | **225770038** | **(879325)** |  | **(71349)** | **(109946675)** |  |  | **12601603** | **(102342331)** |
| 24. | Dividends to Stockholders | 4853022 | 3793998 |  |  |  |  |  |  |  | **1059024** |  |

---

---

| | |
|:---|:---|
| **Applicant Company Name:** | **Augustar Life Insurance Company** |

---

**(Life, Accident, and Health Insurance Company)**

**Analysis of Operations by Line of Business**

**(In Whole Dollars)**

**Nationwide**

---

| | |
|:---|:---|
| **Year 3** | 2027 |

---

---

| | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  |  | | **Ordinary** | **Ordinary** | **Ordinary** | | **Group** | **Group** | **Accident and Health** | **Accident and Health** | **Accident and Health** | |
|  |  |<br>**Total** | **Life <br> Insurance** | **Individual <br> Annuities** | **Supplementary <br> Contracts** |<br>**Credit Life<br> (Group & Individual)** | **Life Insurance (a)** | **Annuities** | **Group** | **Credit <br> (Group and Individual)** | **Other** |<br>**Aggregate of All Other Lines Business** |
| 1. | Net Premiums (All Business) | 2258314321 | 231671510 | 1972325144 |  |  |  | 27195228 |  |  | **27122438** |  |
| 2. | Net Investment Income | 1252457998 | 566605170 | 518130615 |  |  | 88231 | 131802926 |  |  | **14824237** | **21006819** |
| 3. | Reinsurance Cededing Commissions | 195022052 | 52852433 | 140420445 |  |  |  |  |  |  | **1749174** |  |
| 4. | Miscellaneous Income | (1958754141) | 24075931 | (1985325425) |  |  |  | 2612409 |  |  | **(115786)** | **(1269)** |
| 5. | Total Revenue (1+2+3+4) | **1747040230** | **875205044** | **645550779** | **-** |  | **88231** | **161610563** |  |  | **43580064** | **21005550** |
| 6. | Death Benefits | 178539972 | 177540923 |  | 917292 |  | 81756 |  |  |  | **-** | **-** |
| 7. | Matured Endowments | 968443 | 968443 |  |  |  |  |  |  |  | **-** | **-** |
| 8. | Annuity Benefits | 114663183 |  | 82352245 |  |  |  | 32310938 |  |  | **-** | **-** |
| 9. | Accident and Health Policy Benefits | 16536061 | 988010 |  |  |  |  |  |  |  | **15548051** | **-** |
| 10. | Surrender Benefits and Other Fund Withdrawals | 452241670 | 203948590 | 25951612 |  |  |  | 222341468 |  |  | **-** | **-** |
| 11. | Group Conversions |  |  |  |  |  |  |  |  |  | **-** | **-** |
| 12. | Interest Policy and Contract Funds | 71554996 | 4272838 | 2735044 |  |  |  | 64547114 |  |  | **-** | **-** |
| 13. | Commissions on Premiums, Annuity Considerations Direct Business Only) | 105574588 | 13254032 | 89902163 |  |  |  | 481813 |  |  | **1936580** | **-** |
| 14. | Commissions and Expense Allowances on Reinsurance Assumed | 9814351 | 1251720 | 8561099 |  |  |  |  |  |  | **1532** | **-** |
| 15. | Increase in Aggregate Reserves | (112894402) | 5351274 | (118255271) |  |  | 44153 | 959199 |  |  | **(993757)** | **-** |
| 16. | Net Transfers to or (from) Separate Accounts Net of Reinsurance | (1411076483) | (11974879) | (1337516672) |  |  |  | (61584932) |  |  | **-** | **-** |
| 17. | Other Expenses | 2200740900 | 275569180 | 1790121771 |  |  |  | 2589347 |  |  | **11586539** | **120874063** |
| 18. | Total Expenses (sum6...17) | **1626663280** | **671170130** | **543851991** | **917292** |  | **125909** | **261644947** |  |  | **28078946** | **120874063** |
| 19. | Net Gain (Loss) from Operations Before Dividends to and Federal Income Taxes (5-18) | **120376951** | **204034914** | **101698787** | **(917292)** |  | **(37678)** | **(100034384)** |  |  | **15501118** | **(99868514)** |
| 20. | Federal Income Taxes | 8814682 | 8692486 | 396606 |  |  | 861 | 1643258 |  |  | **1791110** | **(3709638)** |
| 21. | Net Realized Capital Gains (Losses) | (5779156) |  |  |  |  |  |  |  |  |  | **(5779156)** |
| 22. | Less Capital Gains Tax |  |  |  |  |  |  |  |  |  |  |  |
| 23. | Net Income((19-20)+(21-212) | **105783112** | **195342428** | **101302182** | **(917292)** |  | **(38539)** | **(101677642)** |  |  | **13710009** | **(101938032)** |
| 24. | Dividends to Stockholders | 4546255 | 3554174 |  |  |  |  |  |  |  | **992081** |  |

---

---

| | |
|:---|:---|
| **Applicant Company Name:** | **Augustar Life Insurance Company** |

---

**(Life, Accident, and Health Insurance Company)**

**Nationwide Premium by LOB - Planned Premium Volume by Line of Business**

**(Amounts in Whole Dollars)**

**The Nationwide Premium by LOB page is automatically calculated. It is calculated based on projected premiums by line of business for each state in which the company is already licensed and authorized to write business and projected premiums by line of business for those states in which the company is applying to be licensed and authorized. The projected premiums will pull from the Authorized Premium By LOB tab and individual state tabs.**

**Nationwide**

---

| | |
|:---|:---|
| **Year 1** | **2025** |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| | <br>**Description** | **Direct**<br>**Premiums** | **Assumed**<br>**Premiums** | **Ceded**<br>**Premiums** | **Net**<br>**Premiums** |
| 1. | Ordinary Life Insurance | 793805433 | 104026467 | 681686188 | 216145712 |
| 2. | Ordinary Individual Annuities | 4016110569 | (2073318361) | 238171363 | 1704620845 |
| 3. | Credit Life (Group and Individual) |  |  |  |  |
| 4. | Group Life Insurance |  |  |  |  |
| 5. | Group Annuities | 23593691 |  |  | 23593691 |
| 6. | Accident and Health Group |  |  |  |  |
| 7. | Accident and Health Credit (Group and Individual) |  |  |  |  |
| 8. | Accident and Health Other | 48233598 | 69385 | 18268517 | 30034466 |
| 9. | Aggregate of All Other Lines of Business | - | - | - | - |
| 10. | Total | 4881743291 | (1969222509) | 938126068 | 1974394714 |

---

**Nationwide**

---

| | |
|:---|:---|
| **Year 2** | **2026** |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| | <br>**Description** | **Direct**<br>**Premiums** | **Assumed**<br>**Premiums** | **Ceded**<br>**Premiums** | **Net**<br>**Premiums** |
| 1. | Ordinary Life Insurance | 737117848 | 92583556 | 607791682 | 221909722 |
| 2. | Ordinary Individual Annuities | 4294830617 | (2197440885) | 241958180 | 1855431552 |
| 3. | Credit Life (Group and Individual) |  |  |  |  |
| 4. | Group Life Insurance |  |  |  |  |
| 5. | Group Annuities | 25624611 |  |  | 25624611 |
| 6. | Accident and Health Group |  |  |  |  |
| 7. | Accident and Health Credit (Group and Individual) |  |  |  |  |
| 8. | Accident and Health Other | 45846918 | 65916 | 17371716 | 28541119 |
| 9. | Aggregate of All Other Lines of Business | - | - | - | - |
| 10. | Total | 5103419995 | (2104791414) | 867121577 | 2131507004 |

---

**Nationwide**

---

| | |
|:---|:---|
| **Year 3** | **2027** |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | <br>**Description** | **Direct**<br>**Premiums** | **Assumed**<br>**Premiums** | **Ceded**<br>**Premiums** | **Net**<br>**Premiums** |
| 1. | Ordinary Life Insurance | 681328528 | 80547693 | 530204711 | 231671510 |
| 2. | Ordinary Individual Annuities | 4514490074 | (2292322725) | 249842205 | 1972325144 |
| 3. | Credit Life (Group and Individual) |  |  |  |  |
| 4. | Group Life Insurance |  |  |  |  |
| 5. | Group Annuities | 27195228 |  |  | 27195228 |
| 6. | Accident and Health Group |  |  |  |  |
| 7. | Accident and Health Credit (Group and Individual) |  |  |  |  |
| 8. | Accident and Health Other | 43579573 | 62620 | 16519754 | 27122438 |
| 9. | Aggregate of All Other Lines of Business | - | - | - | - |
| 10. | Total | 5266593403 | (2211712411) | 796566670 | 2258314321 |

---

---

| | |
|:---|:---|
| **Applicant Company Name:** | **Augustar Life Insurance Company** |

---

**(Life, Accident, and Health Insurance Company)**

**Authorized Premium by LOB (Aggregate) - Planned Premium Volume by Line of Business**

**(Amounts in Whole Dollars)**

**Nationwide**

---

| | |
|:---|:---|
| **Year 1** | **2025** |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| | <br>**Description** | **Direct**<br>**Premiums** | **Assumed**<br>**Premiums** | **Ceded**<br>**Premiums** | **Net**<br>**Premiums** |
| 1. | Ordinary Life Insurance | 793805433 | 104026467 | 681686188 | 216145712 |
| 2. | Ordinary Individual Annuities | 4016110569 | (2073318361) | 238171363 | 1704620845 |
| 3. | Credit Life (Group and Individual) |  |  |  |  |
| 4. | Group Life Insurance |  |  |  |  |
| 5. | Group Annuities | 23593691 |  |  | 23593691 |
| 6. | Accident and Health Group |  |  |  |  |
| 7. | Accident and Health Credit (Group and Individual) |  |  |  |  |
| 8. | Accident and Health Other | 48233598 | 69385 | 18268517 | 30034466 |
| 9. | Aggregate of All Other Lines of Business |  |  |  | - |
| 10. | Total | 4881743291 | (1969222509) | 938126068 | 1974394714 |

---

**Nationwide**

---

| | |
|:---|:---|
| **Year 2** | **2026** |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| | <br>**Description** | **Direct**<br>**Premiums** | **Assumed**<br>**Premiums** | **Ceded**<br>**Premiums** | **Net**<br>**Premiums** |
| 1. | Ordinary Life Insurance | 737117848 | 92583556 | 607791682 | 221909722 |
| 2. | Ordinary Individual Annuities | 4294830617 | (2197440885) | 241958180 | 1855431552 |
| 3. | Credit Life (Group and Individual) |  |  |  |  |
| 4. | Group Life Insurance |  |  |  |  |
| 5. | Group Annuities | 25624611 |  |  | 25624611 |
| 6. | Accident and Health Group |  |  |  |  |
| 7. | Accident and Health Credit (Group and Individual) |  |  |  |  |
| 8. | Accident and Health Other | 45846918 | 65916 | 17371716 | 28541119 |
| 9. | Aggregate of All Other Lines of Business |  |  |  | - |
| 10. | Total | 5103419995 | (2104791414) | 867121577 | 2131507004 |

---

**Nationwide**

---

| | |
|:---|:---|
| **Year 3** | **2027** |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| | <br>**Description** | **Direct**<br>**Premiums** | **Assumed**<br>**Premiums** | **Ceded**<br>**Premiums** | **Net**<br>**Premiums** |
| 1. | Ordinary Life Insurance | 681328528 | 80547693 | 530204711 | 231671510 |
| 2. | Ordinary Individual Annuities | 4514490074 | (2292322725) | 249842205 | 1972325144 |
| 3. | Credit Life (Group and Individual) |  |  |  |  |
| 4. | Group Life Insurance |  |  |  |  |
| 5. | Group Annuities | 27195228 |  |  | 27195228 |
| 6. | Accident and Health Group |  |  |  |  |
| 7. | Accident and Health Credit (Group and Individual) |  |  |  |  |
| 8. | Accident and Health Other | 43579573 | 62620 | 16519754 | 27122438 |
| 9. | Aggregate of All Other Lines of Business |  |  |  | - |
| 10. | Total | 5266593403 | (2211712411) | 796566670 | 2258314321 |

---

**Part C – Other Information**

**Item 30. Exhibits** 

---

| | | |
|:---|:---|:---|
| **Exhibit** | **Description** | **Location** |

---

The exhibits to this Registration Statement are listed below:

---

| | |
|:---|:---|
| 30(a) | [Resolution of the Board of Directors of the Depositor authorizing establishment of Ohio National Variable Account R was filed as Exhibit 1 of the Registrant's registration statement on Form S-6 on October 31, 2001(File no. 333-16133) and is incorporated by reference herein.](https://www.sec.gov/Archives/edgar/data/770291/000095015201505321/l90647aex1.txt)<br>[Resolution of the Board of Directors of the Depositor and AuguStar Life Assurance Corporation ("ALAC") authorizing the merger of ALAC including its separate accounts into the Depositor filed herewith.](fp0096724-7_ex9930a.htm) |
| 30 (b) | N/A |
| 30 (c) | [Principal Underwriting Agreement for Variable Life Insurance, with compensation schedule, between the Depositor and Ohio National Equities, Inc. was filed as Exhibit (3)(a) of the Registrant's registration statement on Form S-6 on April 27, 1998 (File no. 333-16133) and is incorporated by reference herein.](https://www.sec.gov/Archives/edgar/data/770291/0000950152-98-003604.txt)<br>[Variable Policy Distribution Agreements (with compensation schedules) between the Depositor and Ohio National Equities, Inc. were filed as Exhibit (3)(d) of Post-Effective Amendment No. 23 of Ohio National Variable Account A registration statement on Form N-4 on April 27, 1998 (File no. 2-91213) and is incorporated by reference herein.](https://www.sec.gov/Archives/edgar/data/73981/0000950152-98-003606.txt) |
| 30(d) | [Flexible Premium Life Insurance Policy, Form 00-VL-1 was filed as Exhibit 5 of Post-Effective Amendment No. 9 of the Registrant's registration statement on Form S-6 filed on October 31, 2001 (File No. 333-16133) and is incorporated by reference herein.](https://www.sec.gov/Archives/edgar/data/770291/000095015201505321/l90647aex5.txt)<br>[Form of endorsement for merger of ALAC and Depositor, filed herewith.](fp0096724-7_ex9930d.htm) |
| 30(e) | [Variable Life Insurance Application Supplement: Suitability Information was filed as Exhibit 10 of Post-Effective Amendment No. 9 of the Registrant's registration statement on Form S-6 filed on October 31, 2001 (File No. 333-16133) and is incorporated by reference herein.](https://www.sec.gov/Archives/edgar/data/770291/000095015201505321/l90647aex10.txt) |
| 30(f) | [Amended and Restated Articles of Incorporation of AuguStar Life Insurance Company, effective April 9, 2024, is incorporated by reference to Post-Effective Amendment No. 23 on April 30, 2024, Accession No. 0001398344-24-007804. Amended and Restated Articles of Incorporation of AuguStar Life Insurance Company, effective May 5, 2025. File herewith.](fp0096724-7_ex9930f.htm) <br> [Code of Regulations of AuguStar Life Insurance Company, effective April 14, 2023, is incorporated by reference to Post-Effective Amendment No. 23 on April 30, 2024 File No. 333-182250 and 811-1978, filed on April 24, 2024, Accession No. 0001398344-24-007804.](https://www.sec.gov/Archives/edgar/data/73981/000139834424007805/fp0087750-1_ex9927f4.htm) |
| 30(g) | N/A |

---

---

| | |
|:---|:---|
| 30(h)(i) | [Fund Participation Agreement between Depositor and Prudential Funds was filed as Exhibit (3)(g) of Post-Effective Amendment No. 51 of Ohio National Variable Account A registration statement on Form N-4 on April 26, 2006 (File No. 333-43515) and is incorporated by reference herein.](https://www.sec.gov/Archives/edgar/data/73981/000095015206003543/l17807aexv3wg.txt) |
| (ii) | [Fund Participation Agreement between Depositor and Neuberger Berman Advisers Management Trust was filed as Exhibit (3)(h) of Post-Effective Amendment No. 51 of Ohio National Variable Account — A registration statement on Form N-4 on April 26, 2006 (File No. 333-43515) and is incorporated by reference herein.](https://www.sec.gov/Archives/edgar/data/73981/000095015206003543/l17807aexv3wh.txt) |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) [Participation Agreement between The Ohio National Life Insurance Company, Ohio National Equities, Inc., Franklin Templeton Variable Insurance Products Trust and Franklin/Templeton Distributors, Inc. was filed as Exhibit 99(h)(4) of Post-Effective Amendment No. 3 of Registrant's registration statement on Form N-6 on April 26, 2006 (File No. 333-109900) and is incorporated by reference herein.](https://www.sec.gov/Archives/edgar/data/770291/000095015206003536/l17816aexv99whw4.txt)

(iv) [Amendment to Participation Agreement between The Ohio National Life Insurance Company, Ohio National Equities, Inc., Franklin Templeton Variable Insurance Products Trust and Franklin/Templeton Distributors, Inc. was filed as Exhibit 99(h)(5) of Post-Effective Amendment No. 3 of Registrant's registration statement on Form N-6 on April 26, 2006 (File No. 333-109900) and is incorporated by reference herein.](https://www.sec.gov/Archives/edgar/data/770291/000095015206003536/l17816aexv99whw5.txt)

(v) [First Amendment to the Participation Agreement by and between Salomon Brothers Variable Series Funds Inc., The Ohio National Life Insurance Company and Ohio National Life Assurance Corporation was filed as Exhibit 99(h)(6) of Post-Effective Amendment No. 3 of Registrant's registration statement on Form N-6 on April 26, 2006 (File No. 333-109900) and is incorporated by reference herein.](https://www.sec.gov/Archives/edgar/data/770291/000095015206003536/l17816aexv99whw6.txt)

(vi) [Fund Participation Agreement between the Depositor and Janus Aspen Series was filed as Exhibit (3)(e) of the Registrant's Form N-4, Pre-Effective Amendment No. 1 on April 10, 1998 (File no. 333-43515) and is incorporated by reference herein.](https://www.sec.gov/Archives/edgar/data/73981/0000950152-98-003161.txt)

(vii) [Participation Agreement between the Depositor and Lincoln Variable Insurance Products Trust, Lincoln Financial Distributors, Inc., and Lincoln Investment Advisors Corporation was filed as Exhibit 99(h)(9) on the Registrant's Form N-4, Post-Effective Amendment No. 59 on April 28, 2023 and is incorporated by reference herein.](https://www.sec.gov/Archives/edgar/data/73981/000139834423008156/fp0082804-1_ex9927h9.htm)

(viii) [Participation Agreement between Depositor and AIM Variable Insurance Funds (Invesco Variable Insurance Funds), Invesco Distributors, Inc., and Ohio National Equities, Inc., dated June 1, 2010. Filed herewith.](fp0096724-7_ex9930hviii.htm)

(ix) [Participation Agreement between Depositor and Wells Fargo Variable Trust, Wells Fargo Funds Distributor, LLC, and Ohio National Equities, Inc., dated August 12, 2005. Filed herewith.](fp0096724-7_ex9930hix.htm)

(x) [Fund Participation Agreement between Depositor and Dreyfus Variable Investment Fund, dated May 1, 2003. Filed herewith.](fp0096724-7_ex9930hx.htm)

(xi) [Amendment to Participation Agreement between Depositor and BNY Mellon Variable Investment Fund (formerly, Dreyfus Variable Investment Fund), dated May 1, 2003. Filed herewith.](fp0096724-7_ex9930hxi.htm)

(xii) [Fund Participation Agreement between Depositor, Calvert Distributors, Inc. and Calvert Variable Series, dated May 1, 2003. Filed herewith.](fp0096724-7_ex9930hxii.htm)

(xiii) [Fund Participation Agreement between Depositor, Federated Insurance Series, and Federated Securities Corp., dated May 1, 2008. Filed herewith.](fp0096724-7_ex9930hxiii.htm)

(xiv) [Amendment to Fund Participation Agreement between Depositor, Federated Insurance Series, and Federated Securities Corp., dated May 1, 2009. Filed herewith.](fp0096724-7_ex9930hxiv.htm)

(xv) [Amended and Restated Participation Agreement between Depositor, Variable Insurance Products Funds, Fidelity Distributors Corporation, dated April 24, 2008. Filed herewith.](fp0096724-7_ex9930hxv.htm)

(xvi) [Participation Agreement between Depositor, Goldman Sachs Variable Insurance Trust and Goldman Sachs & Co., dated May 1, 1998. Filed herewith.](fp0096724-7_ex9930hxvi.htm)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(xvii) [First Amendment to Participation Agreement between Depositor, Goldman Sachs Variable Insurance Trust and Goldman Sachs & Co., dated April 23, 2008. Filed herewith.](fp0096724-7_ex9930hxvii.htm)

(xviii) [Participation Agreement between Depositor, Waddell & Reed, Inc., Ivy Funds Variable Insurance Portfolios, and Ivy Funds Variable Insurance Portfolios, Inc., dated September 22, 2008. Filed herewith.](fp0096724-7_ex9930hxviii.htm)

(xix) [Fund Participation Agreement between Depositor, Lazard Asset Management, Lazard Retirement Series, Inc., Ohio National Equities, Inc., dated May 1, 1999. Filed herewith.](fp0096724-7_ex9930hxix.htm)

(xx) [Participation Agreement between Depositor and Salomon Brothers Variable Series Funds, Inc., dated March 23, 1998. Filed herewith.](fp0096724-7_ex9930hxx.htm)

(xxi) [Participation Agreement between Depositor, MFS Variable Insurance Trust, and Massachusetts Financial Services Company, dated November 1, 2001. Filed herewith.](fp0096724-7_ex9930hxxi.htm)

(xxii) [Participation Agreement between Depositor, Morgan Stanley Universal Funds, Inc., Morgan Stanley Asset Management Inc, Miller Anderson & Sherrerd, LLP, dated May 1, 1998. Filed herewith.](fp0096724-7_ex9930hxxii.htm)

(xxiii) [Participation Agreement between Depositor and PIMCO Variable Insurance Trust, and PIMCO Funds Distributors LLC, dated August 1, 2002. Filed herewith.](fp0096724-7_ex9930hxxiii.htm)

---

| | |
|:---|:---|
| 30(i) | [Amended and Restated Service Agreement between The Ohio National Life Insurance Company and Ohio National Life Assurance Corporation, dated January 1, 2019. Filed herewith.](fp0096724-7_ex9930i.htm) |
| 30(j) | [Agreement and Plan of Merger. Filed herewith.](fp0096724-7_ex9930j.htm) |
| 30(k) | [Legal Opinion. Filed herewith](fp0096724-7_ex9930k.htm) |
| 30(l) | N/A |
| 30(m) | N/A |
| 30(n) | [Consents of KPMG LLP. Filed herewith.](fp0096724-7_ex9930n.htm) |
| 30(o) | N/A |
| 30(p) | N/A |
| 30(q) | [Memorandum describing the Depositor's purchase, transfer, redemption and conversion procedures for the policies was filed as Exhibit 99(26)(q) of the Registrant's registration statement on Form N-6, Post-Effective Amendment No. 8 on April 28, 2016 (File No. 333-153020) and is incorporated by reference herein.](https://www.sec.gov/Archives/edgar/data/770291/000119312516562644/d226311dex9926q.htm) |
| 30(r) | N/A |
| 30(s) | [Powers of Attorney of ALIC. Filed Herewith.](fp0096724-7_ex9930s.htm) |

---

**Item 31. Directors and Officers of the Depositor**

The principal business address for each officer and director is One Financial Way, Montgomery, Ohio 45242, unless otherwise noted.

---

| | |
|:---|:---|
| **Name** | **Position and Offices with Depositor** |
| Anurag Chandra (1) | Director and Chairman |
| Philippe Charette (2) | Director |
| Patricia Guinn | Director |
| Wes Thompson | Director |
| Steven C. Verney | Director |
| Clifford J. Jack | President and Chief Executive Officer |
| David A. Azzarito (3) | President, Latin America |
| Nancy M. Westbrock | President and CEO, ONESCO |
| Michael Akker | Senior Vice President & Chief Operating Officer, ALAC |
| Lori Dashewich | Senior Vice President, Chief Financial Officer |
| Sachin Jain | Senior Vice President & Chief Investment Officer |
| Carlos Paiva (3) | Senior Vice President, Corporate Secretary & LATAM Regional Counsel and Compliance |
| Scott N. Shepherd | Senior Vice President, Chief Risk Officer & Head of U.S.<br> M&A/Reinsurance, Appointed Actuary |
| Marc A. Socol | Senior Vice President & Chief Revenue Officer |
| Shimon Bachrach | Vice President, Chief Pricing Officer |
| Andrea Baker | Vice President, Internal Audit |
| G. Timothy Biggs | Vice President, Mortgages & Real Estate |
| R. Todd Brockman | Vice President, Mutual Fund Operations |
| Richard C. Brooks, Jr. | Vice President, Corporate Legal & Compliance, AuguStar General Counsel |
| Kevin Buhrlage | Vice President, Strategic Investments |
| William Burrow | Vice President, Strategic Relationships |

---

---

| | |
|:---|:---|
| Michelle Carroll | Vice President, Marketing Operations |
| Christopher Finger | Vice President, Financial Reporting |
| Ramon Galanes | Vice President, LATAM Actuary |
| Manda Ghaferi | Vice President and General Counsel, Assistant Secretary |
| Robert K. Gongwer | Vice President, Tax Strategy |
| Elizabeth Griffith | Vice President, Head of Distribution Services |
| Bradley Owens | Vice President, Corporate Tax |
| Hunter Jones | Vice President, Chief Compliance Officer |
| Mark Kehoe | Vice President, Corporate Credit |
| Karl H. Kreunen | Vice President, Market Development and Distributor Experience |
| Carolyn J. Krisko | Vice President & Controller |
| Sharon Luty | Vice President, Strategic Platforms and Integration |
| Theodore Parker | Vice President, National Sales Manager |
| Mark Peterson | Vice President, Chief Distribution Officer - IMO Channel |
| Rajiv Ranjan (4) | Vice President, ALM & Hedging Strategy |
| David Shaver | Vice President, Life Product Management and Illustration Actuary |
| David E. Spaulding | Vice President, Head of Latin America Financial Reporting |
| Daniel Starishevsky | Vice President, Head of Marketing |
| David Szeremet | Vice President, Advanced Sales |
| Andrew J. VanHoy | Vice President, ONESCO Compliance |

---

---

| | |
|:---|:---|
| Joel G. Varland | Vice President, Enterprise Risk Management |
| Gwen Vaught | Vice President, Underwriting and New Business |
| Jeff Weisman | Vice President, Structured Products |
| Donna K. Weninger | Vice President, Head of Actuarial Valuation |
| Corey Wilkosz | Vice President, Chief Pricing Officer |
| Michelle Wilson | Vice President, Human Resources |
| Molly Akin | Chief Compliance Officer, Separate Accounts |
| Brijendra Grewal | Treasurer & Chief Corporate Development Officer |
| Marc "Ari" Bruger (4) | Managing Director |
| Jonathan Egol | Managing Director |
| Megan Meyer | Assistant Secretary |
| Emily M. Reed | Assistant Corporate Secretary & Paralegal |

---

&nbsp;&nbsp;&nbsp;&nbsp;(1) 1211 6th Avenue, 30th Floor New York, NY 10036

&nbsp;&nbsp;&nbsp;&nbsp;(2) 1000 Place Jean-Paul-Riopelle Montreal, PQ H2ZB3

&nbsp;&nbsp;&nbsp;&nbsp;(3) 550 West Cypress Creek Road Suite 370 Fort Lauderdale, FL 33309

&nbsp;&nbsp;&nbsp;&nbsp;(4) 31 W. 52nd Street, Suite 2401, New York, NY 10019

**Item 32. Persons Controlled by or Under Common Control with the Depositor or Registrant**

The Registrant is a separate account of the Depositor. The Depositor is an indirect subsidiary of Constellation Insurance GP LLC. An organization chart for Constellation Insurance GP LLC is set forth below.

Caisse de dépôt et placement du Québec Constellation Voting Trust, a Canadian voting trust, owns (1) 49.5% of the voting securities of Constellation Insurance GP, LLC; and (2) 20% of the voting securities of Constellation Insurance Holdings, Inc., an Ohio intermediate holding company.

Ontario Teachers' Pension Plan Constellation Voting Trust, a Canadian voting trust, owns 29.9% of the voting securities of Constellation Insurance GP, LLC.

11004883 Canada Inc., a Canadian holding company, owns (1) 19.6% of the voting securities of Constellation Insurance GP, LLC; and (2) 20% of the voting securities of Constellation Insurance Holdings, Inc.

Constellation Insurance GP LLC, a Delaware holding company, owns 100% of the voting securities of ONLH Holdings GP LLC, a Delaware intermediate holding company.

ONLH Holdings GP LLC owns 99% of the voting securities of ONLH Holdings LP, a Delaware limited partnership.

ONLH Holdings LP owns 60% of the voting securities of Constellation Insurance Holdings, Inc.

Constellation Insurance Holdings, Inc., owns 100% of the voting securities of Constellation Insurance, Inc., an Ohio intermediate holding company.

Constellation Insurance, Inc. owns the percentage of voting securities shown for the following entities which were organized under the laws of the jurisdictions listed:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| **Name (and Business)** | **Jurisdiction** | **% Owned** |
| AuguStar Life Insurance Company<br> (insurance company) | Ohio | 100% |
| Financial Way Realty, Inc<br> (realty company) | Ohio | 100% |
| Sycamore Re, Ltd.<br> (captive reinsurance company) | Cayman | 100% |
| ONTech, SMLLC<br> (technology company) | Delaware | 100% |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| **Name (and Business)** | **Jurisdiction** | **% Owned** |
| Princeton Captive Re, Inc.<br> (captive reinsurance company) | Ohio | 100% |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| **Name (and Business)** | **Jurisdiction** | **% Owned** |
| The O.N. Equity Sales Company<br> (securities broker dealer) | Ohio | 100% |
| AuguStar Distributors, Inc.<br> (securities broker dealer) | Ohio | 100% |
| Constellation Investments, Inc.<br> (investment adviser) | Ohio | 100% |

---

AuguStar Life Insurance Company owns the percentage of voting securities shown for the following entities which were organized under the laws of the jurisdictions listed:

---

| | | |
|:---|:---|:---|
| **Name (and Business)** | **Jurisdiction** | **% Owned** |
| AuguStar Variable Insurance Products Fund, Inc.<br> (registered investment company) | Ohio | 100% |
| Kenwood Re, Inc.<br> (captive reinsurance company) | Ohio | 100% |
| Montgomery Re, Inc.<br> (captive reinsurance company) | Ohio | 100% |
| Camargo Re Captive, Inc.<br> (captive reinsurance company) | Ohio | 100% |

---

---

| | | |
|:---|:---|:---|
| **Name (and Business)** | **Jurisdiction** | **% Owned** |
| National Security Life and Annuity Company<br> (insurance company) | Ohio | 100% |
| Sunrise Captive Re, LLC<br> (captive reinsurance company) | Ohio | 100% |
| ON Foreign Holdings, LLC<br> (holding company) | Ohio | 100% |

---

The O.N. Equity Sales Company owns the percentage of voting securities shown for the following entities which were organized under the laws of the jurisdictions listed:<br>

---

| | | |
|:---|:---|:---|
| **Name (and Business)** | **Jurisdiction** | **% Owned** |
| O.N. Investment Management Company<br> (investment adviser) | Ohio | 100% |
| Ohio National Insurance Agency, Inc. | Ohio | 100% |

---

ON Foreign Holdings, LLC owns (1) 100% of the voting securities of AuguStar Lending, LLC, a holding company organized under the laws of Delaware, (2) 100% of the voting securities of ON Overseas Holdings B.V., a holding company organized under the laws of Netherlands, (3) 0.01% of the voting securities of O.N. International do Brasil Participações Ltda., a holding company organized under the laws of Brazil and (4) 0.02% of the voting securities of Ohio National Seguros de Vida S.A., an insurance company organized under the laws of Peru.

ON Overseas Holdings B.V. owns 100% of the voting securities of ON Netherlands Holdings B.V., a holding company organized under the laws of the Netherlands.

ON Netherlands Holdings B.V. owns (1) 100% of the voting securities of ON Global Holdings, LLC, a holding company organized under the laws of Delaware, (2) 99.98% of the voting securities of Ohio National Seguros de Vida S.A., an insurance company organized under the laws of Peru, (3) 99.99% of the voting securities of O.N. International do Brasil Participações Ltda., a holding company organized under the laws of Brazil and (4) 7.90% of the voting securities of Ohio National Sudamerica S.A., a holding company organized under the laws of Chile.

ON Global Holdings, LLC owns (1) 92.1% of the voting securities of Ohio National Sudamerica S.A., a holding company organized under the laws of Chile and (2) 0.01% of the voting securities of Ohio National Seguros de Vida S.A., an insurance company organized under the laws of Chile.

Ohio National Sudamerica S.A. owns 99.99% of the voting securities of Ohio National Seguros de Vida S.A., an insurance company organized under the laws of Chile.

Separate financial statements are filed with the Commission for National Security Life and Annuity Company under registrant National Security Variable Account L and National Security Variable Account N.

**Item 33. Indemnification**

The eighth article of the Depositor's Articles of Incorporation, as amended, provides as follows:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(A) The Corporation shall indemnify, subject to exclusions in the Ohio Revised Code, any person who was or is a party, or is threatened
to be made a party, to any suit or proceeding, whether civil or criminal, by reason of the fact that the person is or was a Director or
Officer of the Corporation or is or was serving at the request of the Corporation as a Director or Officer of another entity against all
loss, liability, expenses (specifically including attorneys' fees), judgments, fines (specifically including any excise taxes assessed
on a person with respect to an employee benefit plan) and amounts paid in settlement actually and reasonably incurred by the person in
connection with such, suit or proceeding if the person acted in good faith and in a manner the person reasonably believed to be in the
best interest of the Corporation and, with respect to any criminal action or proceeding, the person had no reasonable cause to believe
that the persons conduct was unlawful. The adverse termination of any suit or proceeding shall not create any presumption of bad faith,
unreasonable belief or unreasonable cause to believe.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(B) Except as otherwise provided by law the Corporation, in addition to indemnity payments provided in (A), shall advance to each Officer
or Director all expenses as they are incurred by said Officer or Director in the defense of suits and proceedings described in (A) above;
said Officer or Director shall not be required to repay any such amount to the Corporation unless otherwise required by law.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(C) In addition to the foregoing, the Corporation may indemnify other persons to the extent permitted by Ohio Law.

\*\*\*\* \*\*\*\* \*\*\*\* \*\*\*\* \*\*\*\*\* \*\*\*\*\* \*\*\*\*\* \*\*\*\* \*\*\*\*\* \*\*\*\* \*\*\*\* \*\*\*\* \*\*\*\* \*\*\*\* \*\*\*\* \*\*\*\* \*\*\*\* \*\*\*\*

Insofar as indemnification for liability arising under the Securities Act of 1933 may be permitted to directors, officers and controlling persons of the registrant pursuant to the foregoing provisions, or otherwise, the registrant has been advised that in the opinion of the Securities and Exchange Commission such indemnification is against public policy as expressed in the Act and is, therefore, unenforceable. In the event that a claim for indemnification against such liabilities (other than the payment by the registrant of expenses incurred or paid by a director, officer or controlling person of the registrant in the successful defense of any action, suit or proceeding) is asserted by such director, officer or controlling person in connection with the securities being registered, the registrant will, unless in the opinion of its counsel the matter has been settled by controlling precedent, submit to a court of appropriate jurisdiction the question whether such indemnification by it is against public policy as expressed in the Act and will be governed by the final adjudication of such issue.

**Item 34. Principal Underwriters**

The principal underwriter of the Registrant's securities is presently AuguStar Distributors, Inc. ("ADI"). ADI is a wholly-owned subsidiary of Constellation Insurance, Inc. ADI also serves as the principal underwriter of securities issued by AuguStar Variable Accounts A, B and D, other separate accounts of the Depositor which are registered as unit investment trusts. ADI also serves as the principal underwriter of securities issued by National Security Variable Accounts N and L, separate accounts of the Depositor's affiliate, National Security Life and Annuity Company.

The directors and officers of ADI are:

---

| | |
|:---|:---|
| **<u>Name</u>** | **<u>Position with ADI</u>** |
| Marc A. Socol | Director, Chairman of the Board and President |
| Andrew J. VanHoy | Director, Vice President, Compliance |
| Clifford J. Jack | Director |
| Bradley Owens | Vice President, Corporate Tax |
| Teresa R. Cooper | Treasurer & Comptroller |
| Manda Ghaferi | Secretary |

---

The principal business address of each of the foregoing is One Financial Way, Montgomery, Ohio 45242.

**Item 35. Location of Accounts and Records**

All records referenced are maintained and in the custody of AuguStar Life Insurance Company at its principal executive office located at One Financial Way Montgomery, Ohio 45242-5800.

**Item 36. Management Services**

Not applicable.

**Item 37. Fee Representation**

AuguStar Life Insurance Company hereby represents that the fees and charges deducted under the policy, in the aggregate, are reasonable in relation to the services rendered, the expenses expected to be incurred, and the risks assumed by AuguStar Life Insurance Company.

**<u>Signatures</u>**

Pursuant to the requirements of the Securities Act of 1933 and the Investment Company Act of 1940, the Registrant, AuguStar Variable Account R, has duly caused this registration statement to be signed on its behalf by the undersigned, duly authorized, in the City of Montgomery and the State of Ohio on this 26th day of December, 2025.

---

| | |
|:---|:---|
| AuguStar Variable Account R | AuguStar Variable Account R |
| (Registrant) | (Registrant) |
| By: | AuguStar Life Insurance Company |
|  | (Depositor) |
| By: | /s/ Clifford J. Jack |
|  | Clifford J. Jack, President & Chief Executive Officer |
| By: | AuguStar Life Insurance Company |
|  | (Depositor) |
| By: | /s/ Clifford J. Jack |
|  | Clifford J. Jack, President & Chief Executive Officer |

---

Pursuant to the requirements of the Securities Act of 1933, this registration statement has been signed below by the following persons in the capacities and on the dates indicated.

---

| | | |
|:---|:---|:---|
| **Signature** | **Title** | **Date** |
| /s/ Clifford Jack | President, Chief Executive Officer | December 26, 2025 |
| Clifford Jack | (Principal Executive Officer) |  |
| \*Anurag Chandra | Director, Chairman | December 26, 2025 |
| Anurag Chandra |  |  |
| \*Philippe Charette | Director | December 26, 2025 |
| Philippe Charette |  |  |
| \*Patricia Guinn | Director | December 26, 2025 |
| Patricia Guinn |  |  |
| \*Wes Thompson | Director | December 26, 2025 |
| Wes Thompson |  |  |
| \*Steven C. Verney | Director | December 26, 2025 |
| Steven C. Verney |  |  |
| \*Lori Dashewich | Senior Vice President, Chief Financial Officer | December 26, 2025 |
| Lori Dashewich | (Principal Accounting Officer and Principal Financial Officer) |  |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| \*By: | /s/ Manda Ghaferi |

---

Manda Ghaferi, Attorney in fact pursuant to Powers of Attorney filed herewith.

**<u>Index of Consents and Exhibits</u>**

---

| | |
|:---|:---|
| **Exhibit Number** | **Description** |
| [(a)](fp0096724-7_ex9930a.htm) | [Resolution of the Board of Directors of the Depositor and AuguStar Life Assurance Corporation ("ALAC") authorizing the merger of ALAC including its separate accounts into the Depositor](fp0096724-7_ex9930a.htm) |
| [(d)](fp0096724-7_ex9930d.htm) | [Form of endorsement for merger of ALAC and Depositor](fp0096724-7_ex9930d.htm) |
| [(f)](fp0096724-7_ex9930f.htm) | [Amended and Restated Articles of Incorporation of AuguStar Life Insurance Company, effective May 5, 2025](fp0096724-7_ex9930f.htm) |

---

---

| | |
|:---|:---|
| [(h)](fp0096724-7_ex9930hviii.htm)[(viii)](fp0096724-7_ex9930hviii.htm) | [Participation Agreement between Depositor and AIM Variable Insurance Funds (Invesco Variable Insurance Funds), Invesco Distributors, Inc., and Ohio National Equities, Inc., dated June 1, 2010](fp0096724-7_ex9930hviii.htm) |
| [(ix)](fp0096724-7_ex9930hix.htm) | [Participation Agreement between Depositor and Wells Fargo Variable Trust, Wells Fargo Funds Distributor, LLC, and Ohio National Equities, Inc., dated August 12, 2005](fp0096724-7_ex9930hix.htm) |
| [(x)](fp0096724-7_ex9930hx.htm) | [Fund Participation Agreement between Depositor and Dreyfus Variable Investment Fund, dated May 1, 2003](fp0096724-7_ex9930hx.htm) |
| [(xi)](fp0096724-7_ex9930hxi.htm) | [Amendment to Participation Agreement between Depositor and BNY Mellon Variable Investment Fund (formerly, Dreyfus Variable Investment Fund), dated May 1, 2003](fp0096724-7_ex9930hxi.htm) |
| [(xii)](fp0096724-7_ex9930hxii.htm) | [Fund Participation Agreement between Depositor, Calvert Distributors, Inc. and Calvert Variable Series, dated May 1, 2003](fp0096724-7_ex9930hxii.htm) |
| [(xiii)](fp0096724-7_ex9930hxiii.htm) | [Fund Participation Agreement between Depositor, Federated Insurance Series, and Federated Securities Corp., dated May 1, 2008](fp0096724-7_ex9930hxiii.htm) |
| [(xiv)](fp0096724-7_ex9930hxiv.htm) | [Amendment to Fund Participation Agreement between Depositor, Federated Insurance Series, and Federated Securities Corp., dated May 1, 2009](fp0096724-7_ex9930hxiv.htm) |
| [(xv)](fp0096724-7_ex9930hxv.htm) | [Amended and Restated Participation Agreement between Depositor, Variable Insurance Products Funds, Fidelity Distributors Corporation, dated April 24, 2008. Filed herewith.](fp0096724-7_ex9930hxv.htm) |
| [(xvi)](fp0096724-7_ex9930hxvi.htm) | [Participation Agreement between Depositor, Goldman Sachs Variable Insurance Trust and Goldman Sachs & Co., dated May 1, 1998](fp0096724-7_ex9930hxvi.htm) |

---

[(xvii)](fp0096724-7_ex9930hxvii.htm) [First Amendment to Participation Agreement between Depositor, Goldman Sachs Variable Insurance Trust and Goldman Sachs & Co., dated April 23, 2008](fp0096724-7_ex9930hxvii.htm)

[(xviii)](fp0096724-7_ex9930hxviii.htm) [Participation Agreement between Depositor, Waddell & Reed, Inc., Ivy Funds Variable Insurance Portfolios, and Ivy Funds Variable Insurance Portfolios, Inc., dated September 22, 2008](fp0096724-7_ex9930hxviii.htm)

[(xix)](fp0096724-7_ex9930hxix.htm) [Fund Participation Agreement between Depositor, Lazard Asset Management, Lazard Retirement Series, Inc., Ohio National Equities, Inc., dated May 1, 1999. Filed herewith.](fp0096724-7_ex9930hxix.htm)

[(xx)](fp0096724-7_ex9930hxx.htm) [Participation Agreement between Depositor and Salomon Brothers Variable Series Funds, Inc., dated March 23, 1998](fp0096724-7_ex9930hxx.htm)

[(xxi)](fp0096724-7_ex9930hxxi.htm) [Participation Agreement between Depositor, MFS Variable Insurance Trust, and Massachusetts Financial Services Company, dated November 1, 2001](fp0096724-7_ex9930hxxi.htm)

[(xxii)](fp0096724-7_ex9930hxxii.htm) [Participation Agreement between Depositor, Morgan Stanley Universal Funds, Inc., Morgan Stanley Asset Management Inc, Miller Anderson & Sherrerd, LLP, dated May 1, 1998](fp0096724-7_ex9930hxxii.htm)

[(xxiii)](fp0096724-7_ex9930hxxiii.htm) [Participation Agreement between Depositor and PIMCO Variable Insurance Trust, and PIMCO Funds Distributors LLC, dated August 1, 2002](fp0096724-7_ex9930hxxiii.htm)

[(i)](fp0096724-7_ex9930i.htm) [Amended and Restated Service Agreement between The Ohio National Life Insurance Company and Ohio National Life Assurance Corporation, dated January 1, 2019.](fp0096724-7_ex9930i.htm)

[(j)](fp0096724-7_ex9930j.htm) [Agreement and Plan of Merger](fp0096724-7_ex9930j.htm)

[(k)](fp0096724-7_ex9930k.htm) [Opinion and consent of counsel](fp0096724-7_ex9930k.htm)

[(n)](fp0096724-7_ex9930n.htm) [Consent of KPMG LLP](fp0096724-7_ex9930n.htm)

[(s)](fp0096724-7_ex9930s.htm) [Powers of Attorney](fp0096724-7_ex9930s.htm)

## Exhibit 99.30

<u>AuguStar Life Insurance Company</u>

<u>and</u>

<u>AuguStar Life Assurance Corporation</u>

Certificate of Secretary

The undersigned, Carlos Paiva, herby certifies the following:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. I am the duly elected and qualified Secretary of AuguStar Life
Insurance Company and AuguStar Life Assurance Corporation, corporations created and existing under the laws of the State of Ohio (the
"Companies"), whose corporate headquarters is One Financial Way, Cincinnati, Ohio 45242.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. At a meeting of the Board of Directors of the Companies held
May 22, 2025, at which a quorum was present, both Boards respectively approved the Merger of AuguStar Life Assurance Corporation ("ALAC")
with and into AuguStar Life Insurance Company ("ALIC").

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3. The following is an excerpt from the resolutions which remain
in full force and effect as of the date below:

**<u>Merger of AuguStar Life Assurance Corporation ("ALAC") with and into AuguStar Life Insurance Company ("ALIC") & Separate Accounts</u>**

**WHEREAS,** ALIC is a licensed Ohio life insurance company and a wholly owned subsidiary of Constellation Insurance Inc.;

**WHEREAS,** ALAC is a licensed Ohio life insurance company and a wholly owned subsidiary of ALIC; WHEREAS, Constellation Insurance Inc. is a wholly owned subsidiary of Constellation Insurance Holdings, Inc.;

**WHEREAS,** Constellation Insurance Holdings, Inc. is an indirect subsidiary of Constellation Insurance GP LLC;

**WHEREAS,** the Boards of Directors of each of the Companies have determined that it is advisable and in the best commercial interest of each of the Companies to merge ALAC with and into ALIC (the "Merger") having ALIC being the surviving company to the Merger;

**WHEREAS,** each of the Companies' sole shareholders and Boards of Directors approved the Merger; and

**NOW, THEREFORE, BE IT RESOLVED,** that subject to receipt of all required regulatory approvals, the approved Merger shall include the separate accounts held by ALAC, which will be held by ALIC post-Merger; and be it

**FURTHER RESOLVED,** that the proposed Agreement and Plan of Merger that sets forth the terms and conditions of the Proposed Merger, attached as Exhibit A, is approved in all of its material aspects, terms and conditions.

**FURTHER RESOLVED,** that the proposed Certificate of Merger, attached as Exhibit B, is approved in all of its material aspects, terms and conditions.

**FURTHER RESOLVED,** that the proposed Merger Endorsement, attached as Exhibit C, is approved in all of its material aspects, terms and conditions.

**FURTHER RESOLVED**, that the Chief Executive Officer, Chief Financial Officer, Corporate Secretary, Treasurer and Controller of the Companies (the "Authorized Officers") are hereby authorized, directed and empowered to execute, amend and deliver all instruments, agreements, including the Agreement and Plan of Merger, and other documents, including the Certificate of Merger and the Merger Endorsement, as any such Authorized Officer may deem necessary or appropriate to effect the Merger including, without limitation; and be it

**FURTHER RESOLVED,** that Authorized Officers are hereby authorized, directed and empowered to execute all required regulatory filings, including, but not limited to, filings associated with separate accounts; and be it

**FURTHER RESOLVED,** that the Authorized Officers are hereby authorized, directed and empowered to take or cause to be taken any and all such further actions, including, without limitation, (i) preparing, negotiating, sealing, executing, acknowledging, filing, delivering and recording all agreements (including policy form amendments), applications, filings, submissions, instruments, certificates, papers and other documents, (ii) incurring and paying all fees, charges, taxes and expenses, (iii) disclosing, verifying, and publishing all applications, reports, resolutions and other information, and (iv) engaging such advisors, counsel or other persons, in each such case, they or any one of them shall in their, his or her judgment determine to be necessary, proper or desirable to carry out the intent and purposes of the foregoing resolutions; and that each Authorized Officer may, by a written direction, authorize any other officer, employee or agent of, or counsel to, the Companies to take any and all actions referred to in these resolutions in place of or on behalf of such Authorized Officer, with full power as if such Authorized Officer were taking such action himself or herself; and any such action by any Authorized Officer or properly authorized other person shall conclusively establish their authority therefor and the approval and ratification of the actions so taken.

**IN WITNESS WHEREOF,** the undersigned has duly set his hand this 25<sup>th</sup> day of June, 2025.

---

| |
|:---|
| /s/ Carlos Paiva |
| Carlos Paiva |
| Corporate Secretary |

---

## Exhibit 99.30

**AUGUSTAR LIFE INSURANCE COMPANY**

[One Financial Way, Cincinnati, Ohio 45242

Telephone: 800.366.6654]

Effective Date: [12/31/25]

This endorsement is made part of and should be kept with your policy, contract, or certificate.

As of the Effective Date noted above, AUGUSTAR LIFE ASSURANCE CORPORATION, an Ohio domestic insurer, was merged into AUGUSTAR LIFE INSURANCE COMPANY, an Ohio domestic insurer.

The following changes are made to your policy, contract, or certificate:

● All references to "AUGUSTAR LIFE ASSURANCE CORPORATION" are changed to "AUGUSTAR LIFE INSURANCE COMPANY."

● The Home Office address will remain as set forth above.

All other terms, conditions or benefits remain unchanged.

AUGUSTAR LIFE INSURANCE COMPANY is responsible for all benefits payable under your policy, contract, or certificate. Your rights are not affected.

If you have any inquiries regarding this endorsement, please contact us at our home office address or the phone number provided at the top of this endorsement.

**AUGUSTAR LIFE INSURANCE COMPANY**

---

| | |
|:---|:---|
| ![](fp0096724-10_01.jpg) | ![](fp0096724-10_02.jpg) |
| Secretary | President |

---

---

| | |
|:---|:---|
| FORM 25-MER-LIC | ***AuguStar Life Insurance Company*** |

---

 ****

## Exhibit 99.30

<u>AMENDED AND RESTATED</u>

<u>ARTICLES OF INCORPORATION</u>

<u>OF</u>

<u>AUGUSTAR LIFE INSURANCE COMPANY</u>

<u>FIRST</u>. The name of the Corporation shall be AUGUSTAR LIFE INSURANCE COMPANY.

<u>SECOND</u>. These Amended and Restated Articles of Incorporation amend the existing Amended Articles of Incorporation and restate them in their entirety.

<u>THIRD</u>. The principal office and place of business of this Corporation shall be located in the City of Montgomery, State of Ohio, at One Financial Way, Cincinnati, Ohio 45242.

<u>FOURTH</u>. The Corporation is formed for the purpose of making insurance on the lives of persons in and out of the State of Ohio under policies and contracts providing either fixed or variable benefits or both; making insurance against accident to, sickness, temporary or permanent physical disability of, hospital expense and medical care for persons, and taking any and all risks appertaining thereto and connected therewith; granting, purchasing and disposing of annuities providing either fixed or variable benefits or both; establishing and operating separate accounts; conducting pension risk transfer business and any other institutional products and financial services; to cede and accept reinsurance, including, but not limited to, providing reinsurance to said business; to carry on said business under either participating or non-participating plans or both and on either an individual or group basis or both; and doing any and all other acts either permitted or not prohibited under the laws of the State of Ohio for a stock life insurance corporation.

<u>FIFTH</u>. The number of shares which the Corporation is authorized to have outstanding is Ten million shares and all of which shares shall be common shares with a par value of One Dollar ($1.00) each. At all times, a majority of the voting stock of the Corporation shall be owned by an insurance holding company or all of the voting stock of the Corporation shall be owned by an intermediate holding company in compliance with the laws of the State of Ohio relating to insurance holding companies..

<u>SIXTH</u>. The Corporation, pursuant to authorization of the Board of Directors and without action by shareholders, may acquire, hold, sell and dispose of shares of any class of stock, bonds, debentures, notes, script, warrants, obligations, evidences of indebtedness, or other securities of the Corporation (or any other corporation) in such a manner, upon such terms, and in such amounts as the Board of Directors may determine. In addition to the foregoing powers, the Directors shall have the authority to adopt amendments to the articles in respect of any unissued or treasury shares of any class and thereby to fix or change: the division of such shares into series and the designation and authorized number of shares of each series; the dividend or distribution rate; the dates of payment of dividends or distributions and the dates from which they are cumulative; liquidation price; redemption rights and price; sinking fund requirements; conversion rights; and restrictions on the issuance of shares of any class or series. The holders of shares of the corporation shall have no preemptive rights and specifically shall not have the right to purchase shares which are offered or sold for cash of the same class to purchase such shares in proportion to the respective shares of such class.

<u>EIGHTH</u>. (A) The Corporation shall indemnify, subject to exclusions in the Ohio Revised Code, any person who was or is a party, or is threatened to be made a party, to any suit or proceeding, whether civil or criminal, by reason of the fact that the person is or was a Director or Officer of the Corporation or is or was serving at the request of the Corporation as a Director or Officer of another entity against all loss, liability, expenses (specifically including attorneys' fees), judgments, fines (specifically including any excise taxes assessed on a person with respect to an employee benefit plan) and amounts paid in settlement actually and reasonably incurred by the person in connection with such, suit or proceeding if the person acted in good faith and in a manner the person reasonably believed to be in the best interest of the Corporation and, with respect to any criminal action or proceeding, the person had no reasonable cause to believe that the persons conduct was unlawful. The adverse termination of any suit or proceeding shall not create any presumption of bad faith, unreasonable belief or unreasonable cause to believe.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(B) Except as otherwise provided by law the Corporation, in addition to indemnity payments provided in (A), shall advance to each Officer or Director all expenses as they are incurred by said Officer or Director in the defense of suits and proceedings described in (A) above; said Officer or Director shall not be required to repay any such amount to the Corporation unless otherwise required by law.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(C) In addition to the foregoing, the Corporation may indemnify other persons to the extent permitted by Ohio Law.

<u>NINTH</u>. The Articles of Incorporation may be amended from time to time by the shareholders at a meeting held for that purpose by the affirmative vote of the holders of shares entitling them to exercise a majority of the voting power of the Corporation or by the written consent of the holders of shares entitling them to exercise a majority of the voting power. In addition, in all other cases in which Ohio law authorizes the Articles of Incorporation to provide for approval, adoption or affirmative vote by a majority of the voting power of the corporation and/or by a majority of shares of a class and including without limitation approval of amendments to the articles by a class, disposition of all or substantially all assets of the Corporation, merger or consolidation, combination and majority share acquisition, and dissolution, such approval, adoption or affirmative vote shall be by vote of a majority of the voting power of the corporation and/or by vote of a majority of shares of a class.

Pursuant to the resolution of the Board of Directors of AuguStar Life Insurance Company authorizing the filing of these proposed Amended and Restated Articles of Incorporation, and pursuant to section 1701.69 of the Ohio Revised Code, the undersigned President and Secretary of the Corporation have signed their names to these proposed Amended and Restated Articles of Incorporation this 5th day of May, 2025.

---

| |
|:---|
| /s/ Clifford Jack |
| Clifford Jack, President |
| /s/ Carlos Paiva |
| Carlos Paiva, Secretary |

---

## Exhibit 99.30

**PARTICIPATION AGREEMENT**

**BY AND AMONG**

**AIM VARIABLE INSURANCE FUNDS** 

**(INVESCO VARIABLE INSURANCE FUNDS), INVESCO DISTRIBUTORS, INC., THE OHIO NATIONAL LIFE INSURANCE COMPANY,** 

**ON BEHALF OF ITSELF AND** 

**ITS SEPARATE ACCOUNTS, AND**

**OHIO NATIONAL EQUITIES, INC.**

**PARTICIPATION AGREEMENT**

**THIS AGREEMENT,** made and entered into as of the 1<sup>st</sup> day of June, 2010 ("Agreement"), by and among AIM Variable Insurance Funds, a Delaware Trust ("AVIF (IVIF)"), Invesco Distributors, Inc., a Delaware corporation ("INVESCO"), The Ohio National Life Insurance Company, an Ohio life insurance company ("LIFE COMPANY"), on behalf of itself and each of its segregated asset accounts listed in Schedule A hereto, as the parties hereto may amend from time to time (each, an "Account," and collectively, the "Accounts"); and Ohio National Equities, Inc., an affiliate of LIFE COMPANY and the principal underwriter of the Contracts ("UNDERWRITER") (collectively, the "Parties").

**WITNESSETH THAT:**

**WHEREAS,** AVIF (IVIF) is registered with the Securities and Exchange Commission ("SEC") as an open-end management investment company under the Investment Company Act of 1940, as amended (the "1940 Act"); and

**WHEREAS,** AVIF (IVIF) currently consists of separate series portfolios ("Series"), offering shares ("Shares") each of which are registered under the Securities Act of 1933, as amended (the "1933 Act") and are currently sold to one or more separate accounts of life insurance companies to fund benefits under variable annuity contracts and variable life insurance contracts; and

**WHEREAS,** AVIF (IVIF) will make Shares of each Series listed on Schedule A hereto as the Parties hereto may amend from time to time (each a "Fund"; reference herein to "AVIF (IVIF)" includes reference to each Fund, to the extent the context requires) available for purchase by the Accounts; and

**WHEREAS,** LIFE COMPANY will be the issuer of certain variable annuity contracts and variable life insurance contracts ("Contracts") as set forth on Schedule A hereto, as the Parties hereto may amend from time to time, which Contracts (hereinafter collectively, the "Contracts"), if required by applicable law, will be registered under the 1933 Act; and

**WHEREAS,** LIFE COMPANY will fund the Contracts through the Accounts, each of which may be divided into two or more subaccounts ("Subaccounts"; reference herein to an "Account" includes reference to each Subaccount thereof to the extent the context requires); and

**WHEREAS,** LIFE COMPANY will serve as the depositor of the Accounts, each of which is registered as a unit investment trust investment company under the 1940 Act (or exempt therefrom), and the security interests deemed to be issued by the Accounts under the Contracts will be registered as securities under the 1933 Act (or exempt therefrom); and

**WHEREAS,** to the extent permitted by applicable insurance laws and regulations, LIFE COMPANY intends to purchase Shares in one or more of the Funds on behalf of the Accounts to fund the Contracts; and

**WHEREAS,** UNDERWRITER is a broker-dealer registered with the SEC under the Securities Exchange Act of 1934 ("1934 Act") and a member in good standing of the Financial Industry Regulatory Authority ("FINRA");

**WHEREAS,** INVESCO is a broker-dealer registered with the SEC under the 1934 Act and a member in good standing of FINRA;

**NOW, THEREFORE,** in consideration of the mutual benefits and promises contained herein, the Parties hereto agree as follows:

**<u>Section 1. Available Funds</u>**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.1 **Availability**

AVIF (IVIF) will make Shares of each Fund available to LIFE COMPANY for purchase and redemption at net asset value and with no sales charges, subject to the terms and conditions of this Agreement. The Board of AVIF (IVIF) (the "Board") may refuse to sell Shares of any Fund to any person, or suspend or terminate the offering of Shares of any Fund (a) if such action is required by law or by regulatory authorities having jurisdiction, (b) if, in the sole discretion of the Trustees acting in good faith and in light of their fiduciary duties under federal and any applicable state laws, such action is deemed in the best interests of the shareholders of such Fund, or (c) if such action is required by any policies that the Board has adopted and that apply to all Participating Insurance Companies.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.2 **Addition, Deletion or Modification of Funds**

The Parties hereto may agree, from time to time, to add other Funds to provide additional funding media for the Contracts, or to delete, combine, or modify existing Funds, by amending Schedule A hereto. Upon such amendment to Schedule A, any applicable reference to a Fund, AVIF (IVIF), or its Shares herein shall include a reference to any such additional Fund. Schedule A, as amended from time to time, is incorporated herein by reference and is a part hereof.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.3 **No Sales to the General Public**

AVIF (IVIF) represents and warrants that no Shares of any Fund have been or will be sold to the general public.

**<u>Section 2. Processing Transactions</u>**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.1 **Timely Pricing and Orders**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) AVIF (IVIF) or its designated agent will use its best efforts to provide LIFE COMPANY with the net asset value per Share for each Fund by 6:00 p.m. Central Time on each Business Day. As used herein, "Business Day" shall mean any day on which (i) the New York Stock Exchange is open for regular trading, and (ii) AVIF (IVIF) calculates the Fund's net asset value.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) LIFE COMPANY will use the data provided by AVIF (IVIF) each Business Day pursuant to paragraph (a) immediately above to calculate Account unit values and to process transactions that receive that same Business Day's Account unit values. LIFE COMPANY will perform such Account processing the same Business Day, and will place corresponding orders to purchase or redeem Shares with AVIF (IVIF) by 9:00 a.m. Central Time the following Business Day; *provided,* however, that AVIF (IVIF) shall provide additional time to LIFE COMPANY in the event that AVIF (IVIF) is unable to meet the 6:00 p.m. time stated in paragraph (a) immediately above. Such additional time shall be equal to the additional time that AVIF (IVIF) takes to make the net asset values available to LIFE COMPANY.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) With respect to payment of the purchase price by LIFE COMPANY and of redemption proceeds by AVIF (IVIF), LIFE COMPANY and AVIF (IVIF) shall net purchase and redemption orders with respect to each Fund and shall transmit one net payment per Fund in accordance with Section 2.2, below.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) If AVIF (IVIF) provides materially incorrect Share net asset value information (as determined under SEC guidelines), LIFE COMPANY shall be entitled to an adjustment to the number of Shares purchased or redeemed to reflect the correct net asset value per Share. Any material error in the calculation or reporting of net asset value per Share, dividend or capital gain information shall be reported promptly upon discovery to LIFE COMPANY. Materiality and reprocessing cost reimbursement shall be determined in accordance with standards established by the Parties as provided in Schedule B, attached hereto and incorporated herein (except that for any money market fund, materiality shall be determined in a manner consistent with Rule 2a-7 under the 1940 Act).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.2 **Timely Payments**

LIFE COMPANY will wire payment for net purchases to a custodial account designated by AVIF (IVIF) by 1:00 p.m. Central Time on the same day as the order for Shares is placed, to the extent practicable. AVIF (IVIF) will wire payment for net redemptions to an account designated by LIFE COMPANY by 1:00 p.m. Central Time on the same day as the Order is placed, to the extent practicable, but in any event within five (5) calendar days after the date the order is placed in order to enable LIFE COMPANY to pay redemption proceeds within the time specified in Section 22(e) of the 1940 Act or such shorter period of time as may be required by law.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**2.3 Applicable Price**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Share purchase payments and redemption orders that result from purchase payments, premium payments, surrenders and other transactions under Contracts (collectively, "Contract transactions") and that LIFE COMPANY receives prior to the close of regular trading on the New York Stock Exchange (or such other time set by the Board for purposes of determining the current net asset value of a Fund in accordance with Rule 22c-1 under the 1940 Act) on a Business Day will be executed at the net asset values of the appropriate Funds next computed after receipt by AVIF (IVIF) or its designated agent of the orders. For purposes of this Section 2.3(a), LIFE COMPANY shall be the designated agent of AVIF (IVIF) for receipt of orders relating to Contract transactions, in accordance with Section 22(c) and Rule 22c-1 under the 1940 Act, on each Business Day and receipt by such designated agent shall constitute receipt by AVIF (IVIF); *provided* that A VIF (IVIF) receives notice of such orders by 9:00 a.m. Central Time on the next following Business Day or such later time as computed in accordance with Section 2.1(b) hereof. In connection with this Section 2.3(a), LIFE COMPANY represents and warrants that it will not submit any order for Shares or engage in any practice, nor will it allow or suffer any person acting on its behalf to submit any order for Shares or engage in any practice, that would violate or cause a violation of applicable law or regulation including, without limitation Section 22 of the 1940 Act and the rules thereunder.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) All other Share purchases and redemptions by LIFE COMPANY will be effected at the net asset values of the appropriate Funds next computed after receipt by AVIF (IVIF) or its designated agent of the order therefor, and such orders will be irrevocable.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) Without limiting the scope or effect of Section 1.1 hereof, pursuant to which the Board may reject a Share purchase order by or on behalf of LIFE COMPANY under the circumstances described therein, LIFE COMPANY and UNDERWRITER agree to cooperate with the Fund and INVESCO to prevent any person exercising, or purporting to exercise, rights or privileges under one or more Contracts (including, but not limited to Contract owners, annuitants, insureds or participants, as the case may be (collectively, "Participants")) from engaging in any trading practices in any Fund that the Board or INVESCO determines, in good faith and in their sole discretion, to be detrimental or potentially detrimental to the other shareholders of the Fund, or to be in contravention of any applicable law or regulation including, without limitation, Section 22 of the 1940 Act and the rules thereunder. Such cooperation may include, but shall not be limited to, identifying the person or persons engaging in such trading practices, facilitating the imposition of any applicable redemption fee on such person or persons, limiting the telephonic or electronic trading privileges of such person or persons, and taking such other remedial steps, all to the extent permitted or required by applicable law.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.4 **Dividends and Distributions**

AVIF (IVIF) will furnish notice by wire or telephone (followed by written confirmation) on or prior to the payment date to LIFE COMPANY of any income dividends or capital gain distributions payable on the Shares of any Fund. LIFE COMPANY hereby elects to reinvest all dividends and capital gains distributions in additional Shares of the corresponding Fund at the exdividend date net asset values until LIFE COMPANY otherwise notifies AVIF (IVIF) in writing, it being agreed by the Parties that the ex-dividend date and the payment date with respect to any dividend or distribution will be the same Business Day. LIFE COMPANY reserves the right to revoke this election and to receive all such income dividends and capital gain distributions in cash.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.5 **Book Entry**

Issuance and transfer of AVIF (IVIF) Shares will be by book entry only. Stock certificates will not be issued to LIFE COMPANY. Shares ordered from AVIF (IVIF) will be recorded in an appropriate title for LIFE COMPANY, on behalf of its Account.

**<u>Section 3. Costs and Expenses</u>**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.1 **General**

Except as otherwise specifically provided in Schedule C, attached hereto and made a part hereof, each Party will bear, or arrange for others to bear, all expenses incident to its performance under this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.2 **Parties To Cooperate**

Each Party agrees to cooperate with the others, as applicable, in arranging to print, mail and/or deliver, in a timely manner, combined or coordinated prospectuses or other materials of A VIF (IVIF) and the Accounts.

**<u>Section 4. Legal Compliance</u>**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.1 **Tax Laws**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) AVIF (IVIF) represents and warrants that each Fund is currently qualified as a regulated investment company ("RIC") under Subchapter M of the Internal Revenue Code of 1986, as amended (the "Code"), and represents that it will use its best efforts to qualify and to maintain qualification of each Fund as a RIC. AVIF (IVIF) will notify LIFE COMPANY immediately upon having a reasonable basis for believing that a Fund has ceased to so qualify or that it might not so qualify in the future.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) AVIF (IVIF) represents that it will use its best efforts to comply and to maintain each Fund's compliance with the diversification requirements set forth in Section 817(h) of the Code and Section 1.817-5(b) of the regulations under the Code. AVIF (IVIF) will notify LIFE COMPANY immediately upon having a reasonable basis for believing that a Fund has ceased to so comply or that a Fund might not so comply in the future. In the event of a breach of this Section 4.1(b) by AVIF (IVIF), it will take all reasonable steps to adequately diversify the Fund so as to achieve compliance within the grace period afforded by Section 1.817-5 of the regulations under the Code.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) Notwithstanding any other provision of this Agreement, but without limiting the ability of AVIF (IVIF) and/or INVESCO to assume the defense of any action pursuant to Section 12.2(d) hereof, LIFE COMPANY agrees that if the Internal Revenue Service ("IRS") asserts in writing in connection with any governmental audit or review of LIFE COMPANY or, to LIFE COMPANY'S knowledge, of any Participants, that any Fund has failed to comply with the diversification requirements of Section 817(h) of the Code or LIFE COMPANY otherwise becomes aware of any facts that could give rise to any claim against AVIF (IVIF) or its affiliates as a result of such a failure or alleged failure:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) LIFE COMPANY shall promptly notify AVIF (IVIF)
of such assertion or potential claim (subject to the Confidentiality provisions of Section 18 as to any Participant);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) LIFE COMPANY shall consult with AVIF (IVIF) as
to how to minimize any liability that may arise as a result of such failure or alleged failure;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) LIFE COMPANY shall use its best efforts to minimize
any liability of AVIF (IVIF) or its affiliates resulting from such failure, including, without limitation, demonstrating, pursuant to
Treasury Regulations Section 1.817- 5(a)(2), to the Commissioner of the IRS that such failure was inadvertent;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iv) LIFE COMPANY shall permit AVIF (IVIF), its affiliates
and their legal and accounting advisors to participate in any conferences, settlement discussions or other administrative or judicial
proceeding or contests (including judicial appeals thereof) with the IRS, any Participant or any other claimant regarding any claims that
could give rise to liability to AVIF (IVIF) or its affiliates as a result of such a failure or alleged failure; *provided,* however,
that LIFE COMPANY will retain control of the conduct of such conferences discussions, proceedings, contests or appeals;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(v) any written materials to be submitted by LIFE
COMPANY to the IRS, any Participant or any other claimant in connection with any of the foregoing proceedings or contests (including,
without limitation, any such materials to be submitted to the IRS pursuant to Treasury Regulations Section 1.817- 5(a)(2)), (a) shall
be provided by LIFE COMPANY to AVIF (IVIF) (together with any supporting information or analysis); subject to the confidentiality provisions
of Section 18, at least ten (10) business days or such shorter period to which the Parties hereto agree prior to the day on which such
proposed materials are to be submitted, and (b) shall not be submitted by LIFE COMPANY to any such person without the express written
consent of AVIF (IVIF) which shall not be unreasonably withheld;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(vi) LIFE COMPANY shall provide AVIF (IVIF) or its
affiliates and their accounting and legal advisors with such cooperation as AVIF (IVIF) shall reasonably request (including, without limitation,
by permitting AVIF (IVIF) and its accounting and legal advisors to review the relevant books and records of LIFE COMPANY) in order to
facilitate review by AVIF (IVIF) or its advisors of any written submissions provided to it pursuant to the preceding clause or its assessment
of the validity or amount of any claim against its arising from such a failure or alleged failure;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(vii) LIFE COMPANY shall not with respect to any claim
of the IRS or any Participant that would give rise to a claim against AVIF (IVIF) or its affiliates (a) compromise or settle any claim,
(b) accept any adjustment on audit, or (c) forego any allowable administrative or judicial appeals, without the express written consent
of AVIF (IVIF) or its affiliates, which shall not be unreasonably withheld, *provided* that LIFE COMPANY shall not be required, after
exhausting all administrative remedies, to appeal any adverse judicial decision unless AVIF (IVIF) or its affiliates shall have provided
an opinion of independent counsel to the effect that a reasonable basis exists for taking such appeal; and *provided further* that
the costs of any such appeal shall be borne equally by the Parties hereto; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(viii) AVIF (IVIF) and its affiliates shall have no
liability as a result of such failure or alleged failure if LIFE COMPANY fails to comply with any of the foregoing clauses (i) through
(vii), and such failure could be shown to have materially contributed to the liability.

Should AVIF (IVIF) or any of its affiliates refuse to give its written consent to any compromise or settlement of any claim or liability hereunder, LIFE COMPANY may, in its discretion, authorize AVIF (IVIF) or its affiliates to act in the name of LIFE COMPANY in, and to control the conduct of, such conferences, discussions, proceedings, contests or appeals and all administrative or judicial appeals thereof, and in that event AVIF (IVIF) or its affiliates shall bear the fees and expenses associated with the conduct of the proceedings that it is so authorized to control; *provided,* that in no event shall LIFE COMPANY have any liability resulting from AVIF (IVIF)'s refusal to accept the proposed settlement or compromise with respect to any failure caused by AVIF (IVIF). As used in this Agreement, the term "affiliates" shall have the same meaning as "affiliated person" as defined in Section 2(a)(3) of the 1940 Act.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) LIFE COMPANY represents and warrants that the Contracts currently are and will be treated as annuity contracts or life insurance contracts under applicable provisions of the Code and that it will use its best efforts to maintain such treatment; LIFE COMPANY will notify AVIF (IVIF) immediately upon having a reasonable basis for believing that any of the Contracts have ceased to be so treated or that they might not be so treated in the future.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) LIFE COMPANY represents and warrants that each Account is a "segregated asset account" and that interests in each Account are offered exclusively through the purchase of or transfer into a "variable contract," within the meaning of such terms under Section 817 of the Code and the regulations thereunder. LIFE COMPANY will use its best efforts to continue to meet such definitional requirements, and it will notify AVIF (IVIF) immediately upon having a reasonable basis for believing that such requirements have ceased to be met or that they might not be met in the future.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.2 **Insurance and Certain Other Laws**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) AVIF (IVIF) will use its best efforts to comply with any applicable state insurance laws or regulations, to the extent specifically requested in writing by LIFE COMPANY, which efforts shall include, without limitation, the furnishing of information that is not otherwise available to LIFE COMPANY and that is required by state insurance law to enable LIFE COMPANY to obtain the authority needed to issue the Contracts in any applicable state.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) LIFE COMPANY represents and warrants that (i) it is an insurance company duly organized, validly existing and in good standing under the laws of the State of Ohio and has full corporate power, authority and legal right to execute, deliver and perform its duties and comply with its obligations under this Agreement, (ii) it has legally and validly established and maintains each Account as a segregated asset account under Section 3907.15 of the Ohio Insurance Code and the regulations thereunder, and (iii) the Contracts comply in all material respects with all other applicable federal and state laws and regulations.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) AVIF (IVIF) represents and warrants that it is lawfully organized, validly existing, and in good standing under the laws of the State of Delaware and has full power, authority, and legal right to execute, deliver, and perform its duties and comply with its obligations under this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.3 **Securities Laws**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) LIFE COMPANY represents and warrants that (i) interests in each Account pursuant to the Contracts will be registered under the 1933 Act to the extent required by the 1933 Act, (ii) the Contracts will be duly authorized for issuance and sold in compliance in all material respects with all applicable federal and state laws, including, without limitation, the 1933 Act, the 1934 Act, the 1940 Act and the law(s) of LIFE COMPANY's state(s) of organization and domicile, (iii) each Account is and will remain registered under the 1940 Act, to the extent required by the 1940 Act, (iv) each Account does and will comply in all material respects with the requirements of the 1940 Act and the rules thereunder, to the extent required, (v) each Account's 1933 Act registration statement relating to the Contracts, together with any amendments thereto, will at all times comply in all material respects with the requirements of the 1933 Act and the rules thereunder, (vi) LIFE COMPANY will amend the registration statement for its Contracts under the 1933 Act and for its Accounts under the 1940 Act from time to time as required in order to effect the continuous offering of its Contracts or as may otherwise be required by applicable law, and (vii) each Account Prospectus, Statement of Additional Information, and then-current stickers (collectively referred to herein as "Account Prospectus"), will at all times comply in all material respects with the requirements of the 1933 Act and the rules thereunder.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) AVIF (IVIF) represents and warrants that (i) Shares sold pursuant to this Agreement will be registered under the 1933 Act to the extent required by the 1933 Act and duly authorized for issuance and sold in compliance with Delaware law, (ii) AVIF (IVIF) is and will remain registered under the 1940 Act to the extent required by the 1940 Act, (iii) AVIF (IVIF) will amend the registration statement for its Shares under the 1933 Act and itself under the 1940 Act from time to time as required in order to effect the continuous offering of its Shares, (iv) AVIF (IVIF) does and will comply in all material respects with the requirements of the 1940 Act and the rules thereunder, (v) AVIF (IVIF)'s 1933 Act registration statement, together with any amendments thereto, will at all times comply in all material respects with the requirements of the 1933 Act and rules thereunder, and (vi) AVIF (IVIF)'s Prospectus, Statement of Additional Information, and then-current stickers (collectively referred to herein as "AVIF (IVIF) Prospectus"), will at all times comply in all material respects with the requirements of the 1933 Act and the rules thereunder.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) AVIF (IVIF) will at its expense register and qualify its Shares for sale in accordance with the laws of any state or other jurisdiction if and to the extent reasonably deemed advisable by AVIF (IVIF).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) AVIF (IVIF) represents and warrants that all of its trustees, officers, employees, investment advisers, and other individuals/entities having access to the funds and/or securities of the Fund are and continue to be at all times covered by a blanket fidelity bond or similar coverage for the benefit of the Fund in an amount not less than the minimal coverage as required currently by Rule 17g-(l) of the 1940 Act or related provisions as may be promulgated from time to time. The aforesaid bond includes coverage for larceny and embezzlement and is issued by a reputable bonding company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**4.4 Notice of Certain Proceedings and Other Circumstances**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) AVIF (IVIF) or INVESCO will immediately notify LIFE COMPANY of (i) the issuance by any court or regulatory body of any stop order, cease and desist order, or other similar order with respect to AVIF (IVlF)'s registration statement under the 1933 Act or AVIF (IVIF) Prospectus, (ii) any request by the SEC for any amendment to such registration statement or AVIF (IVIF) Prospectus that may affect the offering of Shares of AVIF (IVIF), (iii) the initiation of any proceedings for that purpose or for any other purpose relating to the registration or offering of AVIF (IVIF)'s Shares, or (iv) any other action or circumstances that may prevent the lawful offer or sale of Shares of any Fund in any state or jurisdiction, including, without limitation, any circumstances in which (a) such Shares are not registered and, in all material respects, issued and sold in accordance with applicable state and federal law, or (b) such law precludes the use of such Shares as an underlying investment medium of the Contracts issued or to be issued by LIFE COMPANY. AVIF (IVIF) and INVESCO will make every reasonable effort to prevent the issuance, with respect to any Fund, of any such stop order, cease and desist order or similar order and, if any such order is issued, to obtain the lifting thereof at the earliest possible time.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) LIFE COMPANY or UNDERWRITER will immediately notify AVIF (IVIF) of (i) the issuance by any court or regulatory body of any stop order, cease and desist order, or other similar order with respect to each Account's registration statement under the 1933 Act relating to the Contracts or each Account Prospectus, (ii) any request by the SEC for any amendment to such registration statement or Account Prospectus that may affect the offering of Shares of AVIF (IVIF), (iii) the initiation of any proceedings for that purpose or for any other purpose relating to the registration or offering of each Account's interests pursuant to the Contracts, or (iv) any other action or circumstances that may prevent the lawful offer or sale of said interests in any state or jurisdiction, including, without limitation, any circumstances in which said interests are not registered and, in all material respects, issued and sold in accordance with applicable state and federal law. LIFE COMPANY and UNDERWRITER will make every reasonable effort to prevent the issuance of any such stop order, cease and desist order or similar order and, if any such order is issued, to obtain the lifting thereof at the earliest possible time.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.5 **LIFE COMPANY To Provide Documents; Information About AVIF (IVIF)**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) LIFE COMPANY will provide to AVIF (IVIF) or its designated agent at least one (1) complete copy of all SEC registration statements, Account Prospectuses, reports, any preliminary and final voting instruction solicitation material, applications for exemptions, requests for no-action letters, and all amendments to any of the above, that relate to each Account or the Contracts, contemporaneously with the filing of such document with the SEC or other regulatory authorities.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) LIFE COMPANY will provide to AVIF (IVIF) or its designated agent at least one (1) complete copy of each piece of sales literature or other promotional material in which AVIF (IVIF) or any of its affiliates is named, at least five (5) Business Days prior to its use or such shorter period as the Parties hereto may, from time to time, agree upon. No such material shall be used if AVIF (IVIF) or its designated agent objects to such use within five (5) Business Days after receipt of such material or such shorter period as the Parties hereto may, from time to time, agree upon. AVIF (IVIF) hereby designates INVESCO as the entity to receive such sales literature, until such time as AVIF (IVIF) appoints another designated agent by giving notice to LIFE COMPANY in the manner required by Section 9 hereof.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) Neither LIFE COMPANY nor any of its affiliates, will give any information or make any representations or statements on behalf of or concerning AVIF (IVIF) or its affiliates in connection with the sale of the Contracts other than (i) the information or representations contained in the registration statement, including the AVIF (IVIF) Prospectus contained therein, relating to Shares, as such registration statement and AVIF (IVIF) Prospectus may be amended from time to time; or (ii) in reports or proxy materials for AVIF (IVIF); or (iii) in published reports for AVIF (IVIF) that are in the public domain and approved by AVIF (IVIF) for distribution; or (iv) in sales literature or other promotional material approved by AVIF (IVIF), except with the express written permission of AVIF (IVIF).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) LIFE COMPANY shall adopt and implement procedures reasonably designed to ensure that information concerning AVIF (IVIF) and its affiliates that is intended for use only by brokers or agents selling the Contracts *(i.e.,* information that is not intended for distribution to Participants) ("broker only materials") is so used, and neither AVIF (IVIF) nor any of its affiliates shall be liable for any losses, damages or expenses relating to the improper use of such broker only materials.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) For the purposes of this Section 4.5, the phrase "sales literature or other promotional material" includes, but is not limited to, advertisements (such as material published, or designed for use in, a newspaper, magazine, or other periodical, radio, television, telephone or tape recording, videotape display, signs or billboards, motion pictures, or other public media, *(e.g.,* on-line networks such as the Internet or other electronic messages), sales literature *(i.e.,* any written communication distributed or made generally available to customers or the public, including brochures, circulars, research reports, market letters, form letters, seminar texts, reprints or excerpts of any other advertisement, sales literature, or published article), educational or training materials or other communications distributed or made generally available to some or all agents or employees, registration statements, prospectuses, statements of additional information, shareholder reports, and proxy materials and any other material constituting sales literature or advertising under FINRA rules, the 1933 Act, or the 1940 Act.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.6 **AVIF (IVIF) To Provide Documents; Information About LIFE COMPANY**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) AVIF (IVIF) will provide to LIFE COMPANY at least one (1) complete copy of all SEC registration statements, AVIF (IVIF) Prospectuses, reports, any preliminary and final proxy material, applications for exemptions, requests for no-action letters, and all amendments to any of the above, that relate to AVIF (IVIF) or the Shares of a Fund, contemporaneously with the filing of such document with the SEC or other regulatory authorities.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) AVIF (IVIF) will provide to LIFE COMPANY a camera ready copy of all AVIF (IVIF) prospectuses and printed copies, in an amount specified by LIFE COMPANY, of AVIF (IVIF) statements of addtional information, proxy materials, periodic reports to shareholders and other materials required by law to be sent to Participants who have allocated any Contract value to a Fund. AVIF (IVIF) will provide such copies to LIFE COMPANY in a timely manner so as to enable LIFE COMPANY, as the case may be, to print and distribute such materials within the time required by law to be furnished to Participants.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) AVIF (IVIF) will provide to LIFE COMPANY or its designated agent at least one (1) complete copy of each piece of sales literature or other promotional material in which LIFE COMPANY, or any of its respective affiliates is named, or that refers to the Contracts, at least five (5) Business Days prior to its use or such shorter period as the Parties hereto may, from time to time, agree upon. No such material shall be used if LIFE COMPANY or its designated agent objects to such use within five (5) Business Days after receipt of such material or such shorter period as the Parties hereto may, from time to time, agree upon. LIFE COMPANY shall receive all such sales literature until such time as it appoints a designated agent by giving notice to AVIF (IVIF) in the manner required by Section 9 hereof.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) Neither AVIF (IVIF) nor any of its affiliates will give any information or make any representations or statements on behalf of or concerning LIFE COMPANY, each Account, or the Contracts other than (i) the information or representations contained in the registration statement, including each Account Prospectus contained therein, relating to the Contracts, as such registration statement and Account Prospectus may be amended from time to time; or (ii) in published reports for the Account or the Contracts that are in the public domain and approved by LIFE COMPANY for distribution; or (iii) in sales literature or other promotional material approved by LIFE COMPANY or its affiliates, except with the express written permission of LIFE COMPANY.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) AVIF (IVIF) shall cause its principal underwriter to adopt and implement procedures reasonably designed to ensure that information concerning LIFE COMPANY, and its respective affiliates that is intended for use only by brokers or agents selling the Contracts (*i*.*e.*, information that is not intended for distribution to Participants) ("broker only materials") is so used, and neither LIFE COMPANY, nor any of its respective affiliates shall be liable for any losses, damages or expenses relating to the improper use of such broker only materials.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) For purposes of this Section 4.6, the phrase "sales literature or other promotional material" includes, but is not limited to, advertisements (such as material published, or designed for use in, a newspaper, magazine, or other periodical, radio, television, telephone or tape recording, videotape display, signs or billboards, motion pictures, or other public media, *(e.g.,* on-line networks such as the Internet or other electronic messages), sales literature (*i.e.,* any written communication distributed or made generally available to customers or the public, including brochures, circulars, research reports, market letters, form letters, seminar texts, reprints or excerpts of any other advertisement, sales literature, or published article), educational or training materials or other communications distributed or made generally available to some or all agents or employees, registration statements, prospectuses, statements of additional information, shareholder reports, and proxy materials and any other material constituting sales literature or advertising under FINRA rules, the 1933 Act, or the 1940 Act.

**<u>Section 5. Mixed and Shared Funding</u>**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.1 **General**

The SEC has granted an order to AVIF (IVIF) exempting it from certain provisions of the 1940 Act and rules thereunder so that AVIF (IVIF) may be available for investment by certain other entities, including, without limitation, separate accounts funding variable annuity contracts or variable life insurance contracts, separate accounts of insurance companies unaffiliated with LIFE COMPANY, and trustees of qualified pension and retirement plans (collectively, "Mixed and Shared Funding"). The Parties recognize that the SEC has imposed terms and conditions for such orders that are substantially identical to many of the provisions of this Section 5. Sections 5.2 through 5.8 below shall apply pursuant to the exemptive order granted to AVIF (IVIF). AVIF (IVIF) hereby notifies LIFE COMPANY that, in the event that AVIF (IVIF) implements Mixed and Shared Funding, it may be appropriate to include in the prospectus pursuant to which a Contract is offered disclosure regarding the potential risks of Mixed and Shared Funding.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.2 **Disinterested Trustees**

AVIF (IVIF) agrees that its Board shall at all times consist of trustees a majority of whom (the "Disinterested Trustees") are not interested persons of AVIF (IVIF) within the meaning of Section 2(a)(19) of the 1940 Act and the rules thereunder and as modified by any applicable orders of the SEC, except that if this condition is not met by reason of the death, disqualification, or bona fide resignation of any director, then the operation of this condition shall be suspended (a) for a period of forty-five (45) days if the vacancy or vacancies may be filled by the Board; (b) for a period of sixty (60) days if a vote of shareholders is required to fill the vacancy or vacancies or (c) for such longer period as the SEC may prescribe by order upon application.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.3 **Monitoring for Material Irreconcilable Conflicts**

AVIF (IVIF) agrees that its Board will monitor for the existence of any material irreconcilable conflict between the interests of the Participants in all separate accounts of life insurance companies utilizing AVIF (IVIF) ("Participating Insurance Companies"), including each Account, and participants in all qualified retirement and pension plans investing in AVIF (IVIF) ("Participating Plans"). LIFE COMPANY agrees to inform the Board of AVIF (IVIF) of the existence of or any potential for any such material irreconcilable conflict of which it is aware. The concept of a "matenal irreconcilable conflict" is not defined by the 1940 Act or the rules thereunder, but the Parties recognize that such a conflict may arise for a variety of reasons, including, without limitation:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) an action by any state insurance or other regulatory
authority;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) a change in applicable federal or state insurance,
tax or securities laws or regulations, or a public ruling, private letter ruling, no-action or interpretative letter, or any similar action
by insurance, tax or securities regulatory authorities;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) an administrative or judicial decision in any
relevant proceeding;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) the manner in which the investments of any Fund
are being managed;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) a difference in voting instructions given by
variable annuity contract and variable life insurance contract Participants or by Participants of different Participating Insurance Companies;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) a decision by a Participating Insurance Company to disregard the voting instructions of Participants;
or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g) a decision by a Participating Plan to disregard the voting instructions of Plan participants.

Consistent with the SEC's requirements in connection with exemptive orders of the type referred to in Section 5.1 hereof, LIFE COMPANY will assist the Board in carrying out its responsibilities by providing the Board with all information reasonably necessary for the Board to consider any issue raised, including information as to a decision by LIFE COMPANY to disregard voting instructions of Participants. LIFE COMPANY's responsibilities in connection with the foregoing shall be carried out with a view only to the interests of Participants.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.4 **Conflict Remedies**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) It is agreed that if it is determined by a majority of the members of the Board or a majority of the Disinterested Trustees that a material irreconcilable conflict exists, LIFE COMPANY will, if it is a Participating Insurance Company for which a material irreconcilable conflict is relevant, at its own expense and to the extent reasonably practicable (as determined by a majority of the Disinterested Trustees), take whatever steps are necessary to remedy or eliminate the material irreconcilable conflict, which steps may include, but are not limited to:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) withdrawing the assets allocable to some or all
of the Accounts from AVIF (IVIF) or any Fund and reinvesting such assets in a different investment medium, including another Fund of AVIF
(IVIF), or submitting the question whether such segregation should be implemented to a vote of all affected Participants and, as appropriate,
segregating the assets of any particular group (e.g., annuity Participants, life insurance Participants or all Participants) that votes
in favor of such segregation, or offering to the affected Participants the option of making such a change; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) establishing a new registered investment company
of the type defined as a "management company" in Section 4(3) of the 1940 Act or a new separate account that is operated as
a management company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) If the material irreconcilable conflict arises because of LIFE COMPANY's decision to disregard Participant voting instructions and that decision represents a minority position or would preclude a majority vote, LIFE COMPANY may be required, at AVIF (IVIF)'s election, to withdraw each Account's investment in AVIF (IVIF) or any Fund. No charge or penalty will be imposed as a result of such withdrawal. Any such withdrawal must take place within six (6) months after AVIF (IVIF) gives notice to LIFE COMPANY that this provision is being implemented, and until such withdrawal AVIF (IVIF) shall continue to accept and implement orders by LIFE COMPANY for the purchase and redemption of Shares of AVIF (IVIF).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) If a material irreconcilable conflict arises because a particular state insurance regulator's decision applicable to LIFE COMPANY conflicts with the majority of other state regulators, then LIFE COMPANY will withdraw each Account's investment in AVIF (IVIF) within six (6) months after AVIF (lVIF)'s Board informs LIFE COMPANY that it has determined that such decision has created a material irreconcilable conflict, and until such withdrawal AVIF (IVIF) shall continue to accept and implement orders by LIFE COMPANY for the purchase and redemption of Shares of AVIF (IVIF). No charge or penalty will be imposed as a result of such withdrawal.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) LIFE COMPANY agrees that any remedial action taken by it in resolving any material irreconcilable conflict will be carried out at its expense and with a view only to the interests of Participants.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) For purposes hereof, a majority of the Disinterested Trustees will determine whether or not any proposed action adequately remedies any material irreconcilable conflict. In no event, however, will AVIF (IVIF) or any of its affiliates be required to establish a new funding medium for any Contracts. LIFE COMPANY will not be required by the terms hereof to establish a new funding medium for any Contracts if an offer to do so has been declined by vote of a majority of Participants materially adversely affected by the material irreconcilable conflict.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.5 **Notice to LIFE COMPANY**

AVIF (IVIF) will promptly make known in writing to LIFE COMPANY the Board's determination of the existence of a material irreconcilable conflict, a description of the facts that give rise to such conflict and the implications of such conflict.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.6 **Information Requested by Board**

LIFE COMPANY and AVIF (IVIF) (or its investment adviser) will at least annually submit to the Board of AVIF (IVIF) such reports, materials or data as the Board may reasonably request so that the Board may fully carry out the obligations imposed upon it by the provisions hereof or any exemptive order granted by the SEC to permit Mixed and Shared Funding, and said reports, materials and data will be submitted at any reasonable time deemed appropriate by the Board. All reports received by the Board of potential or existing conflicts, and all Board actions with regard to determining the existence of a conflict, notifying Participating Insurance Companies and Participating Plans of a conflict, and determining whether any proposed action adequately remedies a conflict, will be properly recorded in the minutes of the Board or other appropriate records, and such minutes or other records will be made available to the SEC upon request.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.7 **Compliance with SEC Rules**

If, at any time during which AVIF (IVIF) is serving as an investment medium for variable life insurance Contracts, 1940 Act Rules 6e-3(T) or, if applicable, 6e-2 are amended or Rule 6e-3 is adopted to provide exemptive relief with respect to Mixed and Shared Funding, AVIF (IVIF) agrees that it will comply with the terms and conditions thereof and that the terms of this Section 5 shall be deemed modified if and only to the extent required in order also to comply with the terms and conditions of such exemptive relief that is afforded by any of said rules that are applicable.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.8 **Other Requirements**

AVIF (IVIF) will require that each Participating Insurance Company and Participating Plan enter into an agreement with AVIF (IVIF) that contains in substance the same provisions as are set forth in Sections 4.1(b), 4.1(d), 4.3(a), 4.4(b), 4.5(a), 5, and 10 of this Agreement.

**<u>Section 6. Termination</u>**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.1 **Events of Termination**

Subject to Section 6.4 below, this Agreement will terminate as to a Fund:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) at the option of any party, with or without cause with respect to the Fund, upon six (6) months advance written notice to the other parties, or, if later, upon receipt of any required exemptive relief from the SEC, unless otherwise agreed to in writing by the parties; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) at the option of AVIF (IVIF) upon institution of formal proceedings against LIFE COMPANY or its affiliates by FINRA, the SEC, any state insurance regulator or any other regulatory body regarding LIFE COMPANY's obligations under this Agreement or related to the sale of the Contracts, the operation of each Account, or the purchase of Shares, if, in each case, AVIF (IVIF) reasonably determines that such proceedings, or the facts on which such proceedings would be based, have a material likelihood of imposing material adverse consequences on the Fund with respect to which the Agreement is to be terminated; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) at the option of LIFE COMPANY upon institution of formal proceedings against AVIF (IVIF), its principal underwriter, or its investment adviser by FINRA, the SEC, or any state insurance regulator or any other regulatory body regarding AVIF (IVIF)'s obligations under this Agreement or related to the operation or management of AVIF (IVIF) or the purchase of AVIF (IVIF) Shares, if, in each case, LIFE COMPANY reasonably determines that such proceedings, or the facts on which such proceedings would be based, have a material likelihood of imposing material adverse consequences on LIFE COMPANY, or the Subaccount corresponding to the Fund with respect to which the Agreement is to be terminated; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) at the option of any Party in the event that (i) the Fund's Shares are not registered and, in all material respects, issued and sold in accordance with any applicable federal or state law, or (ii) such law precludes the use of such Shares as an underlying investment medium of the Contracts issued or to be issued by LIFE COMPANY; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) upon termination of the corresponding Subaccount's investment in the Fund pursuant to Section 5 hereof; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) at the option of LIFE COMPANY if the Fund ceases to qualify as a RIC under Subchapter M of the Code or under successor or similar provisions, or if LIFE COMPANY reasonably believes that the Fund may fail to so qualify; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g) at the option of LIFE COMPANY if the Fund fails to comply with Section 817(h) of the Code or with successor or similar provisions, or if LIFE COMPANY reasonably believes that the Fund may fail to so comply; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h) at the option of AVIF (IVIF) if the Contracts issued by LIFE COMPANY cease to qualify as annuity contracts or life insurance contracts under the Code (other than by reason of the Fund's noncompliance with Section 817(h) or Subchapter M of the Code) or if interests in an Account under the Contracts are not registered, where required, and, in all material respects, are not issued or sold in accordance with any applicable federal or state law; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) upon another Party's material breach of any provision of this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.2 **Notice Requirement for Termination**

No termination of this Agreement will be effective unless and until the Party terminating this Agreement gives prior written notice to the other Party to this Agreement of its intent to terminate, and such notice shall set forth the basis for such termination. Furthermore:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) in the event that any termination is based upon the provisions of Sections 6.1(a) or 6.1(e) hereof, such prior written notice shall be given at least six (6) months in advance of the effective date of termination unless a shorter time is agreed to by the Parties hereto;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) in the event that any termination is based upon the provisions of Sections 6.1(b) or 6.1(c) hereof, such prior written notice shall be given at least ninety (90) days in advance of the effective date of termination unless a shorter time is agreed to by the Parties hereto; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) in the event that any termination is based upon the provisions of Sections 6.1(d), 6.1(f), 6.1(g), 6.1(h) or 6.1(i) hereof, such prior written notice shall be given as soon as possible within twenty-four (24) hours after the terminating Party learns of the event causing termination to be required.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.3 **Funds To Remain Available**

Notwithstanding any termination of this Agreement by LIFE COMPANY, AVIF (IVIF) will, at the option of LIFE COMPANY, continue to make available additional shares of the Fund pursuant to the terms and conditions of this Agreement, for all Contracts in effect on the effective date of termination of this Agreement (hereinafter referred to as "Existing Contracts"), unless INVESCO or the Board determines that doing so would not serve the best interests of the shareholders of the affected Funds or would be inconsistent with applicable law or regulation. Specifically, without limitation, the owners of the Existing Contracts will be permitted to reallocate investments in the Fund (as in effect on such date), redeem investments in the Fund and/or invest in the Fund upon the making of additional purchase payments under the Existing Contracts. The parties agree that this Section 6.3 will not apply to any (i) terminations under Section 5 and the effect of such terminations will be governed by Section 5 of this Agreement or (ii) any rejected purchase and/or redemption order as described in Section 2.3(c) hereof.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.4 **Survival of Warranties and Indemnifications**

All warranties and indemnifications will survive the termination of this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.5 Continuance of Agreement for Certain Purposes

If any Party terminates this Agreement with respect to any Fund pursuant to Sections 6.1(b), 6.1(c), 6.1(d), 6.1(f), 6.1(g), 6.1(h) or 6.1(i) hereof, this Agreement shall nevertheless continue in effect as to any Shares of that Fund that are outstanding as of the date of such termination (the "Initial Termination Date"). This continuation shall extend to the earlier of the date as of which an Account owns no Shares of the affected Fund or a date (the "Final Termination Date") six (6) months following the Initial Termination Date, except that LIFE COMPANY may, by written notice shorten said six (6) month period in the case of a termination pursuant to Sections 6.1(d), 6.1(f), 6.1(g), 6.1(h) or 6.1(i).

**<u>Section 7. **Parties To Cooperate Respecting Termination**</u>**

The Parties hereto agree to cooperate and give reasonable assistance to one another in taking all necessary and appropriate steps for the purpose of ensuring that an Account owns no Shares of a Fund after the Final Termination Date with respect thereto, or, in the case of a termination pursuant to Section 6.1(a), the termination date specified in the notice of termination. Such steps may include combining the affected Account with another Account, substituting other mutual fund shares for those of the affected Fund, or otherwise terminating participation by the Contracts in such Fund.

**<u>Section 8. **Assignment**</u>**

This Agreement may not be assigned by any Party, except with the written consent of each other Party.

**<u>Section 9. **Notices**</u>**

Notices and communications required or permitted will be given by means mutually acceptable to the Parties concerned. Each other notice or communication required or permitted by this Agreement will be given to the following persons at the following addresses and facsimile numbers, or such other persons, addresses or facsimile numbers as the Party receiving such notices or communications may subsequently direct in writing:

**AIM Variable Insurance Funds (Invesco Variable Insurance Funds)**

**Invesco Distributors, Inc.**

11 Greenway Plaza, Suite 2500

Houston, Texas 77046

Facsimile: (713) 993-9185

Attn: Peter A. Davidson, Esq.

**The Ohio National Life Insurance Company**

One Financial Way

Cincinnati, Ohio 45242

Facsimile: (513) 794-4645

Attn: Kimberly A. Plante, Esq.

**Ohio National Equities, Inc.**

One Financial Way

Cincinnati, Ohio 45242

Facsimile: (513)794-4645

Attn: Kimberly A. Plante, Esq.

**<u>Section 10. **Voting Procedures**</u>**

Subject to the cost allocation procedures set forth in Section 3 hereof, LIFE COMPANY will distribute all proxy material furnished by AVIF (IVIF) to Participants to whom pass-through voting privileges are required to be extended and will solicit voting instructions from Participants. LIFE COMPANY will vote Shares in accordance with timely instructions received from Participants. LIFE COMPANY will vote Shares that are (a) not attributable to Participants to whom pass-through voting privileges are extended, or (b) attributable to Participants, but for which no timely instructions have been received, in the same proportion as Shares for which said instructions have been received from Participants, so long as and to the extent that the SEC continues to interpret the 1940 Act to require pass through voting privileges for Participants. Neither LIFE COMPANY nor any of its affiliates will in any way recommend action in connection with or oppose or interfere with the solicitation of proxies for the Shares held for such Participants. LIFE COMPANY reserves the right to vote shares held in any Account in its own right, to the extent permitted by law. LIFE COMPANY shall be responsible for assuring that each of its Accounts holding Shares calculates voting privileges in a manner consistent with that of other Participating Insurance Companies or in the manner required by the Mixed and Shared Funding exemptive order obtained by AVIF (IVIF). AVIF (IVIF) will notify LIFE COMPANY of any changes of interpretations or amendments to Mixed and Shared Funding exemptive order it has obtained. AVIF (IVIF) will comply with all provisions of the 1940 Act requiring voting by shareholders, and in particular, AVIF (IVIF) either will provide for annual meetings (except insofar as the SEC may interpret Section 16 of the 1940 Act not to require such meetings) or will comply with Section 16(c) of the 1940 Act (although AVIF (IVIF) is not one of the trusts described in Section 16(c) of that Act) as well as with Sections 16(a) and, if and when applicable, 16(b). Further, AVIF (IVIF) will act in accordance with the SEC's interpretation of the requirements of Section 16(a) with respect to periodic elections of trustees and with whatever rules the SEC may promulgate with respect thereto.

**<u>Section 11. **Foreign Tax Credits**</u>**

AVIF (IV IF) agrees to consult in advance with LIFE COMPANY concerning any decision to elect or not to elect pursuant to Section 853 of the Code to pass through the benefit of any foreign tax credits to its shareholders.

**<u>Section 12. Indemnification</u>**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12.1 **Of AVIF (IVIF) and INVESCO by LIFE COMPANY and UNDERWRITER**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Except to the extent provided in Sections 12.1(b) and 12.1(c), below, LIFE COMPANY and UNDERWRITER agree to indemnify and hold harmless AVIF (IVIF), INVESCO, their affiliates, and each person, if any, who controls AVIF (IVIF), INVESCO, or their affiliates within the meaning of Section 15 of the 1933 Act and each of their respective trustees and officers, (collectively, the "Indemnified Parties" for purposes of this Section 12.1) against any and all losses, claims, damages, liabilities (including amounts paid in settlement with the written consent of LIFE COMPANY and UNDERWRITER) or actions in respect thereof (including, to the extent reasonable, legal and other expenses), to which the Indemnified Parties may become subject under any statute, regulation, at common law or otherwise; *provided,* the Account owns shares of the Fund and insofar as such losses, claims, damages, liabilities or actions:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) arise out of or are based upon any untrue statement
or alleged untrue statement of any material fact contained in any Account's 1933 Act registration statement, any Account Prospectus,
the Contracts, or sales literature or advertising for the Contracts (or any amendment or supplement to any of the foregoing), or arise
out of or are based upon the omission or the alleged omission to state therein a material fact required to be stated therein or necessary
to make the statements therein not misleading; *provided,* that this agreement to indemnify shall not apply as to any Indemnified
Party if such statement or omission or such alleged statement or omission was made in reliance upon and in conformity with information
furnished to LIFE COMPANY or UNDERWRITER by or on behalf of AVIF (IVIF) or INVESCO for use in any Account's 1933 Act registration statement,
any Account Prospectus, the Contracts, or sales literature or advertising or otherwise for use in connection with the sale of Contracts
or Shares (or any amendment or supplement to any of the foregoing); or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) arise
out of or as a result of any other statements or representations (other than statements or representations contained in AVIF (IVIF)'s
1933 Act registration statement, AVIF (IVIF) Prospectus, sales literature or advertising of AVIF (IVIF), or any amendment or supplement
to any of the foregoing, not supplied for use therein by or on behalf of LIFE COMPANY, UNDERWRITER or their respective affiliates and
on which such persons have reasonably relied) or the negligent, illegal or fraudulent conduct of LIFE COMPANY, UNDERWRITER or their respective
affiliates or persons under their control (including, without limitation, their employees and "persons associated with a member,"
as that term is defined in paragraph (q) of Article I of FINRA's By-Laws), in connection with the sale or distribution of the Contracts
or Shares; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) arise out of or are based upon any untrue statement
or alleged untrue statement of any material fact contained in AVIF (IVIF)'s 1933 Act registration statement, AVIF (IVIF) Prospectus, sales
literature or advertising of AVIF (IVIF), or any amendment or supplement to any of the foregoing, or the omission or alleged omission
to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading if such a statement
or omission was made in reliance upon and in conformity with information furnished to AVIF (IVIF), INVESCO or their affiliates by or on
behalf of LIFE COMPANY, UNDERWRITER or their respective affiliates for use in AVIF (IVIF)'s 1933 Act registration statement, AVIF (IVIF)
Prospectus, sales literature or advertising of AVIF (IVIF), or any amendment or supplement to any of the foregoing; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iv) arise as a result of any failure by LIFE COMPANY
or UNDERWRITER to perform the obligations, provide the services and furnish the materials required of them under the terms of this Agreement,
or any material breach of any representation and/or warranty made by LIFE COMPANY or UNDERWRITER in this Agreement or arise out of or
result from any other material breach of this Agreement by LIFE COMPANY or UNDERWRITER; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(v) arise as a result of failure by the Contracts
issued by LIFE COMPANY to qualify as annuity contracts or life insurance contracts under the Code, otherwise than by reason of any Fund's
failure to comply with Subchapter M or Section 817(h) of the Code.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Neither LIFE COMPANY nor UNDERWRITER shall be liable under this Section 12.1 with respect to any losses, claims, damages, liabilities or actions to which an Indemnified Party would otherwise be subject by reason of willful misfeasance, bad faith, or gross negligence in the performance by that Indemnified Party of its duties or by reason of that Indemnified Party's reckless disregard of obligations or duties (i) under this Agreement, or (ii) to AVIF (IVIF) or INVESCO.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) Neither LIFE COMPANY nor UNDERWRITER shall be liable under this Section 12.1 with respect to any action against an Indemnified Party unless AVIF (IVIF) or INVESCO shall have notified LIFE COMPANY and UNDERWRITER in writing within a reasonable time after the summons or other first legal process giving information of the nature of the action shall have been served upon such Indemnified Party (or after such Indemnified Party shall have received notice of such service on any designated agent), but failure to notify LIFE COMPANY and UNDERWRITER of any such action shall not relieve LIFE COMPANY and UNDERWRITER from any liability which they may have to the Indemnified Party against whom such action is brought otherwise than on account of this Section 12.1. Except as otherwise provided herein, in case any such action is brought against an Indemnified Party, LIFE COMPANY and UNDERWRITER shall be entitled to participate, at their own expense, in the defense of such action and also shall be entitled to assume the defense thereof, with counsel approved by the Indemnified Party named in the action, which approval shall not be unreasonably withheld. After notice from LIFE COMPANY or UNDERWRITER to such Indemnified Party of LIFE COMPANY'S or UNDERWRITER's election to assume the defense thereof, the Indemnified Party will cooperate fully with LIFE COMPANY and UNDERWRITER and shall bear the fees and expenses of any additional counsel retained by it, and neither LIFE COMPANY nor UNDERWRITER will be liable to such Indemnified Party under this Agreement for any legal or other expenses subsequently incurred by such Indemnified Party independently in connection with the defense thereof, other than reasonable costs of investigation.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12.2 **Of LIFE COMPANY and UNDERWRITER by AVIF (IVIF) and INVESCO**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Except to the extent provided in Sections 12.2(c), 12.2(d) and 12.2(e), below, AVIF (IVIF) and INVESCO agree to indemnify and hold harmless LIFE COMPANY, UNDERWRITER, their respective affiliates, and each person, if any, who controls LIFE COMPANY, UNDERWRITER or their respective affiliates within the meaning of Section 15 of the 1933 Act and each of their respective trustees and officers, (collectively, the "Indemnified Parties" for purposes of this Section 12.2) against any and all losses, claims, damages, liabilities (including amounts paid in settlement with the written consent of AVIF (IVIF) and/or INVESCO) or actions in respect thereof (including, to the extent reasonable, legal and other expenses), to which the Indemnified Parties may become subject under any statute, regulation, at common law, or otherwise; *provided,* the Account owns shares of the Fund and insofar as such losses, claims, damages, liabilities or actions:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) arise out of or are based upon any untrue statement
or alleged untrue statement of any material fact contained in AVIF (IVIF)'s 1933 Act registration statement, AVIF (IVIF) Prospectus
or sales literature or advertising of AVIF (IVIF) (or any amendment or supplement to any of the foregoing), or arise out of or are based
upon the omission or the alleged omission to state therein a material fact required to be stated therein or necessary to make the statements
therein not misleading; *provided,* that this agreement to indemnify shall not apply as to any Indemnified Party if such statement
or omission or such alleged statement or omission was made in reliance upon and in conformity with information furnished to AVIF (IVIF)
or its affiliates by or on behalf of LIFE COMPANY, UNDERWRITER or their respective affiliates for use in AVIF (IVIF)'s 1933 Act registration
statement, AVIF (IVIF) Prospectus, or in sales literature or advertising or otherwise for use in connection with the sale of Contracts
or Shares (or any amendment or supplement to any of the foregoing); or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) arise out of or as a result of any other statements
or representations (other than statements or representations contained in any Account's 1933 Act registration statement, any Account Prospectus,
sales literature or advertising for the Contracts, or any amendment or supplement to any of the foregoing, not supplied for use therein
by or on behalf of AVIF (IVIF), INVESCO or their affiliates and on which such persons have reasonably relied) or the negligent, illegal
or fraudulent conduct of AVIF (IVIF), INVESCO or their affiliates or persons under their control (including, without limitation, their
employees and "persons associated with a member" as that term is defined in Section (q) of Article I of FINRA By-Laws), in connection
with the sale or distribution of AVIF (IVIF) Shares; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) arise out of or are based upon any untrue statement
or alleged untrue statement of any material fact contained in any Account's 1933 Act registration statement, any Account Prospectus, sales
literature or advertising covering the Contracts, or any amendment or supplement to any of the foregoing, or the omission or alleged omission
to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, if such statement
or omission was made in reliance upon and in conformity with information furnished to LIFE COMPANY, UNDERWRITER or their respective affiliates
by or on behalf of AVIF (IVIF) or INVESCO for use in any Account's 1933 Act registration statement, any Account Prospectus, sales literature
or advertising covering the Contracts, or any amendment or supplement to any of the foregoing; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iv) arise as a result of any failure by AVIF (IVIF)
to perform the obligations, provide the services and furnish the materials required of it under the terms of this Agreement, or any material
breach of any representation and/or warranty made by AVIF (IVIF) in this Agreement or arise out of or result from any other material breach
of this Agreement by AVIF (IVIF).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) The parties agree that the foregoing indemnification by AVIF (IVIF) shall not apply to any acts or omissions of INVESCO. Except to the extent provided in Sections 12.2(c), 12.2(d) and 12.2(e) hereof, AVIF (IVIF) and INVESCO agree to indemnify and hold harmless the Indemnified Parties from and against any and all losses, claims, damages, liabilities (including amounts paid in settlement thereof with, the written consent of AVIF (IVIF) and/or INVESCO) or actions in respect thereof (including, to the extent reasonable, legal and other expenses) to which the Indemnified Parties may become subject directly or indirectly under any statute, at common law or otherwise, insofar as such losses, claims, damages, liabilities or actions directly or indirectly result from or arise out of the failure of any Fund to operate as a regulated investment company in compliance with (i) Subchapter M of the Code and regulations thereunder, or (ii) Section 817(h) of the Code and regulations thereunder, including, without limitation, any income taxes and related penalties, rescission charges, liability under state law to Participants asserting liability against LIFE COMPANY pursuant to the Contracts, the costs of any ruling and closing agreement or other settlement with the IRS, and the cost of any substitution by LIFE COMPANY of Shares of another investment company or portfolio for those of any adversely affected Fund as a funding medium for each Account that LIFE COMPANY reasonably deems necessary or appropriate as a result of the noncompliance.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) Neither AVIF (IVIF) nor INVESCO shall be liable under this Section 12.2 with respect to any losses, claims, damages, liabilities or actions to which an Indemnified Party would otherwise be subject by reason of willful misfeasance, bad faith, or gross negligence in the performance by that Indemnified Party of its duties or by reason of such Indemnified Party's reckless disregard of its obligations and duties (i) under this Agreement, or (ii) to LIFE COMPANY, UNDERWRITER, each Account or Participants.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) Neither AVIF (IVIF) nor INVESCO shall be liable under this Section 12.2 with respect to any action against an Indemnified Party unless the Indemnified Party shall have notified AVIF (IVIF) and/or INVESCO in writing within a reasonable time after the summons or other first legal process giving information of the nature of the action shall have been served upon such Indemnified Party (or after such Indemnified Party shall have received notice of such service on any designated agent), but failure to notify AVIF (IVIF) or INVESCO of any such action shall not relieve AVIF (IVIF) or INVESCO from any liability which it may have to the Indemnified Party against whom such action is brought otherwise than on account of this Section 12.2. Except as otherwise provided herein, in case any such action is brought against an Indemnified Party, AVIF (IVIF) and/or INVESCO will be entitled to participate, at its own expense, in the defense of such action and also shall be entitled to assume the defense thereof (which shall include, without limitation, the conduct of any ruling request and closing agreement or other settlement proceeding with the IRS), with counsel approved by the Indemnified Party named in the action, which approval shall not be unreasonably withheld. After notice from AVIF (IVIF) and/or INVESCO to such Indemnified Party of AVIF (IVIF)'s or INVESCO's election to assume the defense thereof, the Indemnified Party will cooperate fully with AVIF (IVIF) and INVESCO and shall bear the fees and expenses of any additional counsel retained by it, and AVIF (IVIF) and INVESCO will not be liable to such Indemnified Party under this Agreement for any legal or other expenses subsequently incurred by such Indemnified Party independently in connection with the defense thereof, other than reasonable costs of investigation.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) In no event shall AVIF (IVIF) or INVESCO be liable under the indemnification provisions contained in this Agreement to any individual or entity, including, without limitation, LIFE COMPANY, UNDERWRITER or any other Participating Insurance Company or any Participant, with respect to any losses, claims, damages, liabilities or expenses that arise out of or result from (i) a breach of any representation, warranty, and/or covenant made by LIFE COMPANY or UNDERWRITER hereunder or by any other Participating Insurance Company under an agreement containing substantially similar representations, warranties and covenants; (ii) the failure by LIFE COMPANY or any other Participating Insurance Company to maintain its segregated asset account (which invests in any Fund) as a legally and validly established segregated asset account under applicable state law and as a duly registered unit investment trust under the provisions of the 1940 Act (unless exempt therefrom); or (iii) the failure by LIFE COMPANY or any other Participating Insurance Company to maintain its variable annuity or life insurance contracts (with respect to which any Fund serves as an underlying funding vehicle) as annuity contracts or life insurance contracts under applicable provisions of the Code.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12.3 **Effect of Notice**

Any notice given by the indemnifying Party to an Indemnified Party referred to in Sections 12.1(c) or 12.2(d) above of participation in or control of any action by the indemnifying Party will in no event be deemed to be an admission by the indemnifying Party of liability, culpability or responsibility, and the indemnifying Party will remain free to contest liability with respect to the claim among the Parties or otherwise.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12.4 **Successors**

A successor by law of any Party shall be entitled to the benefits of the indemnification contained in this Section 12.

**<u>Section 13. **Applicable Law**</u>**

This Agreement will be construed and the provisions hereof interpreted under and in accordance with Delaware law, without regard for that state's principles of conflict of laws.

**<u>Section 14. **Execution in Counterparts**</u>**

This Agreement may be executed simultaneously in two or more counterparts, each of which taken together will constitute one and the same instrument.

**<u>Section 15. **Severability**</u>**

If any provision of this Agreement is held or made invalid by a court decision, statute, rule or otherwise, the remainder of this Agreement will not be affected thereby.

**<u>Section 16. **Rights Cumulative**</u>**

The rights, remedies and obligations contained in this Agreement are cumulative and are in addition to any and all rights, remedies and obligations, at law or in equity, that the Parties are entitled to under federal and state laws.

**<u>Section 17. **Headings**</u>**

The **Table of Contents** and headings used in this Agreement are for purposes of reference only and shall not limit or define the meaning of the provisions of this Agreement.

**<u>Section 18. **Confidentiality**</u>**

A VIF (IVIF) acknowledges that the identities of the customers of LIFE COMPANY or any of its affiliates (collectively, the "LIFE COMPANY Protected Parties" for purposes of this Section 18), information maintained regarding those customers, and all computer programs and procedures or other information developed by the LIFE COMPANY Protected Parties or any of their employees or agents in connection with LIFE COMPANY'S performance of its duties under this Agreement are the valuable property of the LIFE COMPANY Protected Parties. AVIF (IVIF) agrees that if it comes into possession of any list or compilation of the identities of or other information about the LIFE COMPANY Protected Parties' customers, or any other information or property of the LIFE COMPANY Protected Parties, other than such information as may be independently developed or compiled by AVIF (IVIF) from information supplied to it by the LIFE COMPANY Protected Parties' customers who also maintain accounts directly with AVIF (IVIF), AVIF (IVIF) will hold such information or property in confidence and refrain from using, disclosing or distributing any of such information or other property except: (a) with LIFE COMPANY'S prior written consent; or (b) as required by law or judicial process. LIFE COMPANY acknowledges that the identities of the customers of AVIF (IVIF) or any of its affiliates (collectively, the "AVIF (IVIF) Protected Parties" for purposes of this Section 18), information maintained regarding those customers, and all computer programs and procedures or other information developed by the AVIF (IVIF) Protected Parties or any of their employees or agents in connection with AVIF (IVIF)'s performance of its duties under this Agreement are the valuable property of the AVIF (IVIF) Protected Parties. LIFE COMPANY agrees that if it comes into possession of any list or compilation of the identities of or other information about the AVIF (IVIF) Protected Parties' customers or any other information or property of the AVIF (IVIF) Protected Parties, other than such information as may be independently developed or compiled by LIFE COMPANY from information supplied to it by the AVIF (IVIF) Protected Parties' customers who also maintain accounts directly with LIFE COMPANY, LIFE COMPANY will hold such information or property in confidence and refrain from using, disclosing or distributing any of such information or other property except: (a) with AVIF (IVIF)'s prior written consent; or (b) as required by law or judicial process. Each party acknowledges that any breach of the agreements in this Section 18 would result in immediate and irreparable harm to the other parties for which there would be no adequate remedy at law and agree that in the event of such a breach, the other parties will be entitled to equitable relief by way of temporary and permanent injunctions, as well as such other relief as any court of competent jurisdiction deems appropriate.

**<u>Section 19. **Trademarks and Fund Names**</u>**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Except as may otherwise be provided in a License Agreement among Invesco Management Group Inc., LIFE COMPANY and UNDERWRITER, neither LIFE COMPANY nor UNDERWRITER or any of their respective affiliates, shall use any trademark, trade name, service mark or logo of AVIF (IVIF), INVESCO or any of their respective affiliates, or any variation of any such trademark, trade name, service mark or logo, without AVIF (IVIF)'s or INVESCO's prior written consent, the granting of which shall be at AVIF (IVIF)'s or INVESCO's sole option.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Except as otherwise expressly provided in this Agreement, neither AVIF (IVIF), its investment adviser, its principal underwriter, or any affiliates thereof shall use any trademark, trade name, service mark or logo of LIFE COMPANY, UNDERWRITER or any of their affiliates, or any variation of any such trademark, trade name, service mark or logo, without LIFE COMPANY'S or UNDERWRITER's prior written consent, the granting of which shall be at LIFE COMPANY's or UNDERWRITER's sole option.

**<u>Section 20. **Parties to Cooperate**</u>**

Each party to this Agreement will cooperate with each other party and all appropriate governmental authorities (including, without limitation, the SEC, FINRA and state insurance regulators) and will permit each other and such authorities reasonable access to its books and records (including copies thereof) in connection with any investigation or inquiry relating to this Agreement or the transactions contemplated hereby.

**<u>Section 21. Amendments; Need For</u>**

No provision of this Agreement may be amended or modified in any manner except by mutual written agreement executed by all parties hereto. The Parties shall, from time to time, review this Agreement to determine the extent to which an amendment thereto may be necessary or appropriate to reflect changes in applicable law or regulation, and shall cooperate in implementing any such amendment in a timely manner, it being understood and agreed to that no such amendment shall take effect except upon mutual written agreement of all Parties as stated above.

**<u>Section 22. Force Majeure</u>**

Each Party shall be excused from the performance of any of its obligations to the other where such nonperformance is occasioned by any event beyond its control which shall include, without limitation, any applicable order, rule or regulation of any federal, state or local body, agency or instrumentality with jurisdiction, work stoppage, accident, natural disaster, war, acts of terrorism or civil disorder, provided that the Party so excused shall use all reasonable efforts to minimize its nonperformance and overcome, remedy, cure or remove such event as soon as is reasonably practicable, and such performance shall be excused only for so long as, in any given case, the force or circumstances making performance impossible shall exist.

**IN WITNESS WHEREOF,** the Parties have caused this Agreement to be executed in their names and on their behalf by and through their duly authorized officers signing below.

---

| | | | |
|:---|:---|:---|:---|
| | | **A** **IM VARIABLE INSURANCE FUNDS<br> (INVESCO VARIABLE INSURANCE FUNDS)** | **A** **IM VARIABLE INSURANCE FUNDS<br> (INVESCO VARIABLE INSURANCE FUNDS)** |
| Attest: | /s/ Peter Davidson | By: | /s/ John M. Zerr |
| Name: | Peter Davidson | Name: | John M. Zerr |
| Title: | Assistant Secretary | Title: | Senior Vice President |
| | | **INVESCO DISTRIBUTORS, INC.** | **INVESCO DISTRIBUTORS, INC.** |
| Attest: | /s/ Peter Davidson | By: | /s/ John S. Cooper |
| Name: | Peter Davidson | Name: | John S. Cooper |
| Title: | Assistant Secretary | Title: | President |
| | | **THE OHIO NATIONAL LIFE INSURANCE COMPANY,** on behalf of itself and its separate accounts | **THE OHIO NATIONAL LIFE INSURANCE COMPANY,** on behalf of itself and its separate accounts |
| Attest: | /s/ Joseph M. Fisemere | By: | /s/ Thomas A. Barefield |
| Name: | Joseph M. Fisemere | Name: | Thomas A. Barefield |
| Title: | Assistant Secretary | Title: | EVP |
| | | **OHIO NATIONAL EQUITIES, INC.** | **OHIO NATIONAL EQUITIES, INC.** |
| Attest: | /s/ Kimberly A. Plante | By: | /s/ Thomas A. Barefield |
| Name: | Kimberly A. Plante | Name: | Thomas A. Barefield |
| Title: | Assistant Secretary | Title: | EVP |

---

**SCHEDULE A**

**<u>FUNDS AVAILABLE UNDER THE CONTRACTS</u>**

Invesco Van Kampen V.I. International Growth Equity Fund

Invesco Van Kampen V.I. Value Fund

**<u>SEPARATE ACCOUNTS UTILIZING THE FUNDS</u>**

Ohio National Variable Account A

Ohio National Variable Account B

Ohio National Variable Account C

Ohio National Variable Account D

**<u>CONTRACTS FUNDED BY THE SEPARATE ACCOUNTS</u>**

ONcore Series of individual variable annuities, including:

ONcore Xtra

ONcore Value

ONcore Premier

ONcore Lite

ONcore Flex

ONcore Ultra

ONcore Wrap

ONcore Lite II

ONcore Ultra II

ONcore Xtra II

ONcore Premier II

ONcore Flex II

ONcore Lite III

Top Series of variable annuities, including:

Top Plus

Top Explorer

Top Tradition

Top 1

Investar Vision/ Top Spectrum

Group variable annuities, including:

ONcore Advantage

Retirement Advantage

Pension Advantage

Performance Advantage

Portfolio Advantage

**SCHEDULE B**

**INVESCO's PRICING ERROR POLICIES**

<u>Determination of Materiality</u>

In the event that INVESCO discovers an error in the calculation of the Fund's net asset value, the following policies will apply:

If the amount of the error is less than $.01 per share, it is considered immaterial and no adjustments are made.

If the amount of the error is $.01 per share or more, then the following thresholds are applied:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a. If the amount of the difference in the erroneous
net asset value and the correct net asset value is less than .5% of the correct net asset value, INVESCO will reimburse the affected Fund
to the extent of any loss resulting from the error. No other adjustments shall be made.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b. If the amount of the difference in the erroneous
net asset value and the correct net asset value is .5% of the correct net asset value or greater, then INVESCO will determine the impact
of the error to the affected Fund and shall reimburse such Fund (and/or LIFE COMPANY, as appropriate, such as in the event that the error
was not discovered until after LIFE COMPANY processed transactions using the erroneous net asset value) to the extent of any loss resulting
from the error. To the extent that an overstatement of net asset value per share is detected quickly and LIFE COMPANY has not mailed redemption
checks to Participants, LIFE COMPANY and INVESCO agree to examine the extent of the error to determine the feasibility of reprocessing
such redemption transaction (for purposes of reimbursing the Fund to the extent of any such overpayment).

<u>Reprocessing Cost Reimbursement</u>

To the extent a reprocessing of Participant transactions is required pursuant to paragraph (b), above, INVESCO shall reimburse LIFE COMPANY for LIFE COMPANY'S reprocessing costs in an amount not to exceed $1.00 per contract affected by $10 or more.

The Pricing Policies described herein may be modified by AVIF (IVIF) as approved by its Board. INVESCO agrees to use its best efforts to notify LIFE COMPANY at least five (5) days prior to any such meeting of the Board of AVIF (IVIF) to consider such proposed changes.

**SCHEDULE C**

**EXPENSE ALLOCATIONS**

---

| | |
|:---|:---|
| **Life Company** | **AVIF (IVIF)/INVESCO** |
| preparing and filing the Account's registration statement | Preparing and filing the Fund's registration statement |
| text composition for Account prospectuses and supplements | text composition for Fund prospectuses and supplements |
| text alterations of prospectuses (Account) and supplements (Account) | text alterations of prospectuses (Fund) and supplements (Fund) |
| printing Account and Fund prospectuses and supplements, which shall be reimbursed for under the Administrative Services Agreement among the parties and/or its affiliates. | a camera ready Fund prospectus |
| text composition and printing Account SAIs | text composition and printing Fund SAIs |
| mailing and distributing Account SAIs to policy owners upon request by policy owners | mailing and distributing Fund SAIs to policy owners upon request by policy owners |
| mailing and distributing prospectuses (Account and Fund) and supplements (Account and Fund) to policy owners of record as required by Federal Securities Laws and to prospective purchasers | |
| text composition (Account), printing, mailing, and distributing annual and semi-annual reports for Account (Fund and Account as, applicable) | text composition of annual and semi-annual reports (Fund) |
| text composition, printing, mailing, distributing, and tabulation of proxy statements and voting instruction solicitation materials to policy owners with respect to proxies related to the Account | text composition, printing, mailing, distributing and tabulation of proxy statements and voting instruction solicitation materials to policy owners with respect to proxies related to the Fund |
| preparation, printing and distributing sales material and advertising relating to the Funds, insofar as such materials relate to the Contracts and filing such materials with and obtaining approval from, the SEC, FINRA, any state insurance regulatory authority, and any other appropriate regulatory authority, to the extent required | |

---

## Exhibit 99.30

**PARTICIPATION AGREEMENT**

THIS AGREEMENT, made and entered into this 12 day of August, 2005 by and between WELLS FARGO VARIABLE TRUST, an unincorporated business trust formed under the laws of Delaware (the "Trust"), WELLS FARGO FUNDS DISTRIBUTOR, LLC, a Delaware limited liability company (the "Distributor"), and THE OHIO NATIONAL LIFE INSURANCE COMPANY, an Ohio life insurance company ("ONLIC") and OHIO NATIONAL LIFE ASSURANCE CORPORATION, an Ohio life insurance company (collectively with ONLIC, the "Companies" and each the "Company"), each on its own behalf and on behalf of each separate account of the Companies identified herein. , and Ohio National Equities, Inc., an Ohio corporation (the "Insurance Underwriter"), a broker-dealer affiliated with the Company.

WHEREAS, the Trust engages in business as an open-end, diversified management investment company offering shares of beneficial interest (the "Trust shares") consisting of one or more separate series ("Series") of shares, each such Series representing an interest in a particular investment portfolio of securities and other assets (a "Fund"), and which Series may be subdivided into various classes ("Classes") with each such Class supporting a distinct charge and expense arrangement; and

WHEREAS, the Trust was established for the purpose of serving as an investment vehicle for insurance company separate accounts supporting variable annuity contracts and variable life insurance policies offered by insurance companies and may also be utilized by qualified retirement plans; and

WHEREAS, an order of the Securities and Exchange Commission dated September 28, 1998, (File No. 812-11158) grants certain separate accounts supporting variable life insurance policies, their life insurance company depositors, and their principal underwriters, exemptions from Sections 9(a), 13(a), 15(a) and 15(b) of the Investment Company Act of 1940, and from Rules 6e-2(b)(15) and 6e-3(T)(b)(15) thereunder, to the extent necessary for such separate accounts to purchase and hold Trust shares at the same time that such shares are sold to or held by separate accounts of affiliated and unaffiliated insurance companies supporting either variable annuity contracts or variable life insurance policies, or both, or by qualified pension and retirement plans (the "SEC Order"); and

WHEREAS, the Distributor has the exclusive right to distribute Trust shares to qualifying investors; and

WHEREAS, the Companies desire that the Trust serve as an investment vehicle for a certain separate account(s) of the Companies and the Distributor desires to sell shares of certain Series and/or Class(es) to such separate account(s); and

WHEREAS, the Insurance Underwriter serves as the principal underwriter of one or more classes of variable annuity contracts and/or variable life insurance policies issued by the Company and is party to this Agreement for the sole purpose of receiving payments from the Distributor pursuant to Rule 12b-1 under the Investment Company Act of 1940;

NOW, THEREFORE, in consideration of their mutual promises, the Trust, the Distributor and the Companies agree as follows:

**ARTICLE I**

**Additional Definitions**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1.1.** "Accounts"-- the separate accounts of the Company described more specifically in Schedules 1, 2 and 3 to this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1.2.** "Business Day"—each day that the Trust is open for business as provided in the Trust's Prospectus.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1.3.** "Code"—the Internal Revenue Code of 1986, as amended, and any successor thereto.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1.4.** ''Contracts" —the class or classes of variable annuity contracts and/or variable life insurance policies issued by the Company and described more specifically on Schedules 1, 2, or 3 to this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1.5.** "Contract Owners"—the owners of the Contracts, as distinguished from all Product Owners.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1.6.** "Participating Account"—a separate account investing all or a portion of its assets in Trust shares, including the Accounts.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1.7.** "Participating Insurance Company"—any insurance company with a Participating Account, including the Company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1.8.** "Participating Plan"—any qualified retirement plan investing directly in the Trust.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1.9.** "Participating Investor"—any Participating Account, Participating Insurance Company or Participating Plan, including the Accounts and the Company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1.10.** "Products"—variable annuity contracts and variable life insurance policies supported by Participating Accounts, including the Contracts.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1.11.** "Product Owners"—owners of Products, including Contract Owners.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1.12.** "Trust Board"—the board of trustees of the Trust.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1.13.** "Registration Statement"—with respect to the Trust shares or a class of Schedule 1 Contracts, the registration statement filed with the SEC to register such securities under the 1933 Act, or the most recently filed amendment thereto, in either case in the form in which it was declared or became effective. The Contracts' Registration Statement for each class of Contracts is described more specifically on Schedule 1 to this Agreement. The Trust's Registration Statement is filed on Form N-1A (File No. 333-74283).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1.14.** "1940 Act Registration Statement"—with respect to the Trust or the Schedule 1 Accounts, the registration statement filed with the SEC to register such person as an investment company under the 1940 Act, or the most recently filed amendment thereto. The Schedule 1 Accounts' 1940 Act Registration Statements are described more specifically on Schedule 1 to this Agreement. The Trust's 1940 Act Registration Statement is filed on Form N-1A (File No. 811-09255).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1.15.** "Prospectus"—with respect to shares of a Series (or Class) of Trust shares or a class of Schedule 1 Contracts, each version of the definitive prospectus or supplement thereto filed with the SEC pursuant to Rule 497 under the 1933 Act. Unless indicated to the contrary, the term "Prospectus" in this Agreement shall include any private placement memorandum or other similar disclosure document used in connection with the offer or sale of Schedule 2 or Schedule 3 Contracts. With respect to any provision of this Agreement requiring a party to take action in accordance with a Prospectus, such reference thereto shall be deemed to be to the version for the applicable Series, Class or class of Schedule 1 Contracts last so filed prior to the taking of such action. For purposes of Article IX, the term "Prospectus" shall include any statement of additional information incorporated therein.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1.16.** "Schedule 1 Accounts"—Accounts registered under the 1940 Act as a unit investment trust and listed on Schedule 1.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1.17.** "Schedule 2 Accounts"—Accounts excluded from the definition of an investment company as provided for by Section 3 (c)(11) of the 1940 Act and listed on Schedule 2.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1.18.** "Schedule 3 Accounts"—Accounts excluded from the definition of an investment company as provided for by Section 3(c)(l) or Section 3(c)(7) of the 1940 Act and listed on Schedule 3.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1.19.** "Schedule I Contracts"—Contracts through which interests in Schedule 1 Accounts are offered and issued, which interests are registered as securities under the 1933 Act.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1.20.** "Schedule 2 Contracts"—Contracts through which interests in Schedule 2 Accounts are offered and issued to trustees of qualified pension and profit-sharing plans and certain government plans identified in Section 3(a)(2) of the 1933 Act.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1.21.** "Schedule 3 Contracts"—Contracts through which interests in Schedule 3 Accounts are offered and issued to "accredited investors", as that term is defined in Regulation D under the 1933 Act, or other investors permitted by Regulation D.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1.22.** "Statement of Additional Information"—with respect to the shares of the Trust or a class of Schedule 1 Contracts, each version of the definitive statement of additional information or supplement thereto filed with the SEC pursuant to Rule 497 under the 1933 Act. With respect to any provision of this Agreement requiring a party to take action in accordance with a Statement of Additional Information, such reference thereto shall be deemed to be the last version so filed prior to the taking of such action.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1.23.** "SEC"—the Securities and Exchange Commission.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1.24.** "NASD"—The National Association of Securities Dealers, Inc.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1.25.** "1933 Act"—the Securities Exchange Act of 1933, as amended.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1.26.** "1940 Act"—the Investment Company Act of 1940, as amended.

**ARTICLE II**

**Sale of Trust Shares**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**2.1. Availability of Shares**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) The Trust has granted to the Distributor exclusive authority to distribute the Trust shares and to select which Series or Classes of Trust shares shall be made available to Participating Investors. Pursuant to such authority, and subject to Article X hereof, the Distributor shall make available to the Company for purchase on behalf of the Account, shares of the Series and Classes listed on Schedule 4 to this Agreement, such purchases to be effected at net asset value in accordance with Section 2.3 of this Agreement. Such Series and Classes shall be made available to the Company in accordance with the terms and provisions of this Agreement until this Agreement is terminated pursuant to Article X or the Distributor suspends or terminates the offering of shares of such Series or Classes in the circumstances described in Article X.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Notwithstanding clause (a) of this Section 2.1, Series or Classes of Trust shares in existence now, or that may be established in the future, will be made available to the Company only as the Distributor may so provide, subject to the Distributor's rights set forth in Article X to suspend or terminate the offering of shares of any Series or Class or to terminate this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) The parties acknowledge and agree that: (i) the Trust may revoke the Distributor's authority pursuant to the terms and conditions of its distribution agreement with the Distributor, and (ii) the Trust reserves the right in its sole discretion to refuse to accept a request for the purchase of Trust shares.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**2.2. Redemptions.** The Trust shall redeem, at the Company's request, any full or fractional Trust shares held by the Company on behalf of the Account, such redemptions to be effected at net asset value in accordance with Section 2.3 of this Agreement. Notwithstanding the foregoing: (a) the Company shall not redeem Trust shares attributable to Contract Owners except in the circumstances permitted in Article X of this Agreement, and (b) the Trust may delay redemption of Trust shares of any Series or Class to the extent permitted by the 1940 Act, any rules, regulations or orders thereunder, or the Prospectus for such Series or Class.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**2.3. Purchase and Redemption Procedures**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) The Trust hereby appoints the Company as its agent for the limited purpose of receiving purchase and redemption requests on behalf of the Accounts for shares of those Series or Classes made available hereunder, based on transactions in units issued by an Account (or sub-account of an Account) under the Contracts, other transactions relating to the Contracts or the Accounts and customary processing of such transactions. Receipt of requests for transactions in Account (or sub-account) units, or other transactions relating to the Contracts or the Accounts, on any Business Day by the Company as such limited agent of the Trust prior to the Trust's close of business as defined from time to time in the applicable Prospectus for such Series or Class (which as of the date of execution of this Agreement is the close of regular trading on the New York Stock Exchange (normally 4:00p.m. New York Time)) shall constitute receipt by the Trust on that same Business Day, provided that the Trust receives actual and sufficient notice of such request by 9:00 a.m. Eastern Time on the next following Business Day (the ''Notice Day"). Such notice may be communicated by facsimile to the office or person designated for such notice by the Trust.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) The Company shall pay for shares of each Series or Class on the Notice Day. Payment for Series or Class shares shall be made in federal funds transmitted to the Trust by wire to be received by the Trust by 2:00 pm Eastern Time on the Notice Day (unless the Trust determines and so advises the Company that sufficient proceeds are available from redemption of shares of other Series or Classes effected pursuant to redemption requests tendered by the Company on behalf of the Account). In no event may proceeds from the redemption of shares requested pursuant to an order received by the Company after the Trust's close of business on any Business Day be applied to the payment for shares for which a purchase order was received prior to the Trust's close of business on such day. If the issuance of shares is canceled because federal funds are not timely received, the Company shall indemnify the respective Fund and Distributor with respect to all costs, expenses and losses relating thereto. Upon the Trust's receipt of federal funds so wired, such funds shall cease to be the responsibility of the Company and shall become the responsibility of the Trust. If federal funds are not received on time, such funds will be invested, and Series or Class shares purchased thereby will be issued, as soon as practicable after actual receipt of such funds but in any event not on the same day that the purchase order was received.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) Payment for Series or Class shares redeemed by the Accounts or the Company shall be made in federal funds transmitted by wire to the Company (or any person designated in writing by the Company), such funds normally to be transmitted by 6:00 p.m. Eastern Time on the Notice Day of the redemption order for Series or Class shares (unless redemption proceeds are to be applied to the purchase of Trust shares of other Series or Classes in accordance with Section 2.3(b) of this Agreement), except that the Trust reserves the right to redeem Series or Class shares in assets other than cash and to delay payment of redemption proceeds to the extent permitted by the 1940 Act, any rules or regulations or orders thereunder, or the applicable Prospectus. The Trust shall not bear any responsibility whatsoever for the proper disbursement or crediting of redemption proceeds by the Company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) Prior to the first purchase of any Trust shares hereunder, the Company and the Trust shall provide each other with all information necessary to effect wire transmissions of federal funds to the other party and all other designated persons pursuant to such protocols and security procedures as the parties may agree upon. Should such information change thereafter, the Trust and the Company, as applicable, shall notify the other in writing of such changes, observing the same protocols and security procedures, at least three Business Days in advance of when such change is to take effect. The Company and the Trust shall observe customary procedures to protect the confidentiality and security of such information, but the Trust shall not be liable to the Company for any breach of security except those resulting from the negligence or willful misconduct of the Trust or those under its control.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) The procedures set forth herein are subject to any additional terms set forth in the applicable Prospectus for the Series or Class or by the requirements of applicable law.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**2.4. Net Asset Value.** The Trust shall inform the Company of the net asset value per share for each Series or Class available to the Company as soon as reasonably practicable after the net asset value per share for such Series or Class is calculated and shall use its best efforts to provide this information to the Company by 6:30p.m. Pacific Time each Business Day. The Trust shall calculate such net asset value in accordance with the Prospectus for such Series or Class.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**2.5. Dividends and Distributions.** The Trust shall furnish notice to the Company as soon as reasonably practicable of any income dividends or capital gain distributions payable on any Series or Class shares. The Company, on its behalf and on behalf of the Account, hereby elects to receive all such dividends and distributions as are payable on any Series or Class shares in the form of additional shares of that Series or Class. The Company reserves the right, on its behalf and on behalf of the Account, to revoke this election and to receive all such dividends and capital gain distributions in cash; to be effective, such revocation must be made in writing and received by the Trust at least ten Business Days prior to a dividend or distribution date. The Trust shall notify the Company promptly of the number of Series or Class shares so issued as payment of such dividends and distributions.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**2.6. Book Entry.** Issuance and transfer of Trust shares shall be by book entry only. Share certificates will not be issued to the Company or the Accounts. Purchase and redemption orders for Trust shares shall be recorded in an appropriate ledger for each Account (or sub-account).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**2.7. Pricing Errors.** Any material errors in the calculation of net asset value, dividends or capital gain information shall be reported immediately upon discovery to the Company. The Trust or its agent will promptly correct any such errors and promptly recalculate transactions made under this Agreement using the correct net asset value, dividends or capital gains consistent with the Trust's then current net asset value error correction policy (including the policy's definition of the term "material"). To the extent that recalculation of one or more transactions does not make the Company's account with a Fund "whole," the Distributor shall make such account "whole." The Distributor shall not be responsible for payment of any costs of reprocessing transactions in units issued by an Account (or a sub-account of an Account) under the Contracts arising out of an error in the calculation of a Fund's net asset value, dividends or capital gains distributions if such error is discovered and corrected within five business days. Neither the Trust, any Fund, the Distributor, nor any of their affiliates shall be liable for any information provided to the Company pursuant to this Agreement which information is based on incorrect information supplied by or on behalf of the Company or any other Participating Investor to the Trust or the Distributor.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**2.8. Limits on Purchasers.** The Distributor and the Trust shall sell Trust shares only to life insurance companies and their separate accounts and to persons or plans ("Qualified Persons") that qualify to purchase shares of the Trust under Section 817(h) of the Code and the regulations thereunder without impairing the ability of the Accounts to consider the portfolio investments of the Trust as constituting investments of the Accounts for the purpose of satisfying the diversification requirements of Section 817(h). The Company hereby represents and warrants that it and each Account are Qualified Persons. The Distributor and the Trust shall not sell Trust shares to any insurance company or separate account unless an agreement is in effect between the Distributor, the Trust and the insurance company containing provisions substantially the same as those in Article VIII of this Agreement. The Distributor and the Trust shall not sell more than 10% of any Series of Trust shares to any Participating Plan unless an agreement is in effect between the Distributor, the Trust and the trustee (or other fiduciary) of the Plan containing provisions substantially the same as those in Article VIII of this Agreement. The Distributor and the Trust shall not sell Trust shares to any Participating Plan unless a written acknowledgment of the foregoing condition is received from the trustee (or other fiduciary) of the Plan.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**2.9 Disruptive Trading.** The Trust has adopted policies designed to prevent frequent purchases and redemptions of any Series of Trust shares in quantities great enough to disrupt orderly management of the corresponding Fund's investment portfolio. These policies are disclosed in the Trust's prospectus. From time to time, the Trust and the Distributor implement procedures reasonably designed to enforce the Trust's disruptive trading policies and shall provide a written description of such procedures (and revisions thereto) to the Company. The Company agrees to develop, adopt and maintain policies regarding transactions in Account units reasonably designed to complement the Trust's disruptive trading policies, and to implement Account transaction procedures reasonably designed, from time to time, to effectuate the Trust's procedures for preventing disruptive trading in Trust shares.

**ARTICLE III**

**Representations and Warranties**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**3.1. Company.** The Company represents and warrants that: (a) it is an insurance company duly organized and in good standing under applicable law; (b) it has legally and validly established each Account as a segregated asset account under applicable state law to serve as segregated investment accounts for the Contracts; (c) each Schedule I Account is duly registered as a unit investment trust under the 1940 Act and each such Account's 1940 Act Registration Statement has been filed with the SEC in accordance with the 1940 Act; (d) the Schedule 2 Accounts and Schedule 3 Accounts each qualify for the exclusions on which they rely for not registering as investment companies under the 1940 Act; (e) it has registered, or will register, all Schedule 1 Contracts offered and sold pursuant to this Agreement under the 1933 Act and has an effective Registration Statement for that purpose; (f) it will offer and sell the Contracts in compliance in all material respects with all applicable federal and state laws and regulations, including, but not limited to, state insurance law and federal securities law suitability requirements; (g) the Contracts have been filed, qualified and/or approved for sale, as applicable, under the insurance laws and regulations of the states in which the Contracts will be offered; (h) sales of the Schedule 2 Contracts and Schedule 3 Contracts properly qualify for exemptions on which the Company relies in not registering such Contracts, or interests in the Account through which each is issued, under the 1933 Act; (i) its activities and those of its employees in promoting the sale and distribution of the Contracts and effecting Contract Owner transactions in Account units have not caused, and will not cause, the Company to be deemed a broker-dealer, (j) orders it places for the purchase and redemption of Trust shares pursuant to Article 2.3 of this Agreement are the net result of transactions in units issued by an Account, instructions for which are received by the Company prior to the Trust's close of business as defined from time to time in the applicable Prospectus for such Series or Class (which as of the date of execution of this Agreement is the close of regular trading on the New York Stock Exchange (normally 4:00p.m. New York Time)), (k) as long as this Agreement remains in effect, it shall remain in continuous compliance with Article 6.3, Article 6.4 and Article 6.5 of this Agreement and (1) it will notify the Distributor and the Trust promptly if for any reason it is unable to perform its obligations under this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**3.2. Trust.** The Trust represents and warrants that: (a) it is a statutory trust duly organized and validly existing under the Delaware law; (b) it is duly registered under the 1940 Act as an open-end management investment company and has filed a 1940 Act Registration Statement with the SEC in accordance with the provisions of the 1940 Act; (c) Trust shares issued pursuant to this Agreement have been, or will be, duly authorized and validly issued in accordance with applicable law; (d) it will offer and sell Trust shares pursuant to this Agreement in compliance in all material respects with all applicable federal and state laws and regulations; (e) it has registered, or will register, all Trust shares offered and sold pursuant to this Agreement under the 1933 Act and has an effective Registration Statement for that purpose; (f) as long as this Agreement remains in effect, it shall remain in continuous compliance with Article 6.1 and Article 6.2 of this Agreement; and (g) the Trust's Board, a majority of whom are not interested persons of the Trust, has formulated and approved a plan under Rule 12b-l ("Rule 12b-l Plan") to finance distribution expenses.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**3.3. Distributor.** The Distributor represents and warrants that: (a) it is a limited liability company duly organized and in good standing under Delaware law; (b) it is registered as a broker-dealer under federal and applicable state securities laws and is a member in good standing of the NASD; and (c) Wells Fargo Bank, the Trust's investment adviser, is exempt from registration as an investment adviser under all applicable federal and state securities laws and that Wells Fargo Bank will perform its obligations to the Trust in accordance with any applicable state and federal securities laws.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**3.4. Legal Authority.** Each party represents and warrants that the execution and delivery of this Agreement and the consummation of the transactions contemplated herein have been duly authorized by all necessary corporate, or trust action, as applicable, by such party, and, when so executed and delivered, this Agreement will be the valid and binding obligation of such party enforceable in accordance with its terms.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**3.5. Bonding Requirement.** Each party represents and warrants that all of its directors, trustees, officers, members and employees dealing with the money and/or securities of the Trust are and shall continue to be at all times covered by a blanket fidelity bond or similar coverage for the benefit of the Trust in an amount not less than the amount required by the applicable rules of the NASD and the federal securities laws. The aforesaid bond shall include coverage for larceny and embezzlement and shall be issued by a reputable bonding company. All parties shall make all reasonable efforts to see that this bond or another bond containing these provisions is always in effect, shall provide evidence thereof promptly to any other party upon written request therefor, and shall notify the other parties promptly in the event that such coverage no longer applies.

**ARTICLE IV**

**Regulatory Requirements**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**4.1. Trust Filings.** The Trust shall amend the Trust's Registration Statement from time to time and maintain its effectiveness as required in order to effect the continuous offering of Trust shares in compliance with applicable law. Notwithstanding the foregoing, the Trust shall register and qualify Trust shares for sale in accordance with the laws of various states if, and to the extent, deemed advisable by the Trust or the Distributor. The Trust shall amend the Trust's 1940 Act Registration Statement as required by the 1940 Act to maintain the Trust's registration under the 1940 Act for as long as Trust shares are outstanding. The Trust shall comply in all material respects with the 1940 Act.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**4.2. Account Filings.** The Company shall amend the Registration Statement for each Schedule I Contract from time to time and maintain its effectiveness as required in order to effect the continuous offering of such Contracts in compliance with applicable law for as long as purchase payments are made under such Contracts. Notwithstanding the foregoing, the Company: (a) may permit the effectiveness of a Schedule I Contract's Registration Statement to expire if the Company has supplied the Trust with an SEC no-action letter or opinion of counsel satisfactory to the Trust's counsel to the effect that maintaining such Registration Statement on a current basis is no longer required, and (b) shall register and qualify the Contracts for sale in accordance with the securities laws of the various states only if, and to the extent, it considers such registration and qualification necessary. The Company shall amend each Schedule I Account's 1940 Act Registration Statement as required by the 1940 Act to maintain the Account's registration under the 1940 Act for as long as the Schedule I Contracts issued through that Account are in force. With regard to each Schedule 1 Account, the Company shall comply in all material respects with the 1940 Act.

The Company shall be responsible for filing all Contract forms, applications, marketing materials and other documents relating to the Contracts and/or the Account with state insurance commissions, as required or customary, and shall use its best efforts: (a) to obtain any and all approvals thereof, under applicable state insurance law, of each state or other jurisdiction in which Contracts are or may be offered for sale; and (b) to keep such approvals in effect for so long as the Contracts are outstanding.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**4.3 Delivery of Prospectuses by the Company.** The Company shall deliver (or arrange for delivery of) an appropriate Prospectus to each prospective Contract Owner describing in all material respects the terms and features of the Contract being offered. The Company also shall deliver (or arrange for delivery of) a Prospectus for each Fund that a prospective Contract Owner identifies on his or her application as an intended investment option under a Contract or to which a Schedule 1 Contract Owner allocates premium payments to or transfers Contract value. The Company shall deliver (or arrange for delivery of) such Prospectuses at the times required by applicable provisions of the 1933 Act and rules or regulations thereunder.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**4.3. Voting of Trust Shares.** The extent required by applicable law, whenever the Trust shall have a meeting of holders of any Series or Class of Trust shares, the Company shall:

● solicit voting instructions from Contract Owners

● vote Trust shares held in each Account at such shareholder meetings in accordance with instructions received from Contract Owners, and

● vote Trust shares held in each Account for which it has not received timely instructions in the same proportion as it votes the applicable Series or Class of Trust shares for which it has received timely instructions.

Except with respect to matters as to which the Company has the right under Rule 6e-2 or Rule 6e-3(T) under the 1940 Act, to vote Trust shares without regard to voting instructions from Contract Owners, neither the Company nor any of its affiliates will recommend action in connection with, or oppose or interfere with, the actions of the Trust Board to hold shareholder meetings for the purpose of obtaining approval or disapproval from shareholders (and, indirectly, from Contract Owners) of matters put before the shareholders.

As required by the conditions attaching to the SEC Order, the Company shall remain responsible for ensuring that it calculates voting instructions and votes Trust shares at shareholder meetings in a manner consistent with other Participating Investors. The Trust will notify the Company of any changes to the SEC Order, the conditions attaching thereto, or to any interpretation of the Order or conditions.

The Trust will comply with all provisions of the 1940 Act requiring voting by shareholders, and in particular, the Trust will either provide for annual meetings (except to the extent that the SEC may interpret Section 16 of the 1940 Act not to require such meetings) or comply with Section 16(c) of the 1940 Act (although the Trust is not one of the trusts described in Section 16(c) of that Act) as well as with Sections 16(a) and, if and when applicable, 16(b) of the 1940 Act. Further, the Trust will act in accordance with the SEC's interpretation of the requirements of Section 16(a) with respect to periodic elections of trustees and with whatever rules the SEC may promulgate with respect thereto.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**4.4. State Insurance Restrictions.** The Company acknowledges and agrees that it is the responsibility of the Company and other Participating Insurance Companies to determine investment restrictions and any other restrictions, limitations or requirements under state insurance law applicable to any Fund or the Trust or the Distributor, and that neither the Trust nor the Distributor shall bear any responsibility to the Company, other Participating Insurance Companies or any Product Owners for any such determination or the correctness of such determination.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**4.5. Interpretation of Law.** Under no circumstances will the Trust, the Distributor or any of their affiliates (excluding Participating Investors) be held responsible or liable in any respect for any statements or representations, except for statements or representations in this Agreement, made by them or their legal advisers to the Company or any Contract Owner concerning the applicability of any federal or state laws, regulations or other authorities to the activities contemplated by this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**4.6. Disclosure.** The Trust's prospectus shall state that the statement of additional information for the Trust is available from either the Distributor or the Trust. The Trust hereby notifies the Company that it is appropriate to include in Contract Prospectuses, disclosure of the potential risks of mixed and shared funding.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**4.7. Drafts of Filings.** As requested, the Trust and the Company shall provide to each other copies of draft versions of any Registration Statements, Prospectuses, Statements of Additional Information, periodic and other shareholder or Contract Owner reports, proxy statements, solicitations for voting instructions, applications for exemptions, requests for no-action letters, and all amendments or supplements to any of the above, prepared by or on behalf of either of them and that mentions the other party by name. Such drafts shall be provided to the other party sufficiently in advance of filing such materials with regulatory authorities in order to allow such other party a reasonable opportunity to review the materials.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**4.8. Copies of Filings.** The Trust and the Company shall provide to each other at least one complete copy of all Registration Statements, Prospectuses, Statements of Additional Information, periodic and other shareholder or Contract Owner reports, proxy statements, solicitations of voting instructions, applications for exemptions, requests for no-action letters, and all amendments or supplements to any of the above, that relate to the Trust, the Contracts or the Account, as the case may be, promptly after the filing by or on behalf of each such party of such document with the SEC or other regulatory authorities (it being understood that this provision is not intended to require the Trust to provide to the Company copies of any such documents prepared, filed or used by Participating Investors other than the Company and the Account).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**4.9. Regulatory Responses.** Each party shall promptly provide to all other parties copies of responses to no-action requests, notices, orders and other rulings received by such party with respect to any filing covered by Section 4.8 of this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**4.10. Complaints and Proceedings**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) The Trust and/or the Distributor shall immediately notify the Company of: (i) the issuance by any court or regulatory body of any stop order, cease and desist order, or other similar order (but not including an order of a regulatory body exempting or approving a proposed transaction or arrangement) with respect to the Trust's Registration Statement or the Prospectus of any Series or Class; (ii) any request by the SEC for any amendment to the Trust's Registration Statement or the Prospectus of any Series or Class; (iii) the initiation of any proceedings for that purpose or for any other purposes relating to the registration or offering of the Trust shares; or (iv) any other action or circumstances that may prevent the lawful offer or sale of Trust shares or any Class or Series in any state or jurisdiction, including, without limitation, any circumstance in which (A) such shares are not registered and, in all material respects, issued and sold in accordance with applicable state and federal law or (B) such law precludes the use of such shares as an underlying investment medium for the Contracts or the Accounts. The Trust will make every reasonable effort to prevent the issuance of any such stop order, cease and desist order or similar order and, if any such order is issued, to obtain the lifting thereof at the earliest possible time.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) The Company shall immediately notify the Trust and the Distributor of: (i) the issuance by any court or regulatory body of any stop order, cease and desist order, or other similar order (but not including an order of a regulatory body exempting or approving a proposed transaction or arrangement) with respect to the Contracts' Registration Statement or the Contracts' Prospectus; (ii) any request by the SEC for any amendment to the Contracts' Registration Statement or Prospectus; (iii) the initiation of any proceedings for that purpose or for any other purposes relating to the registration or offering of the Contracts; or (iv) any other action or circumstances that may prevent the lawful offer or sale of the Contracts or any class of Contracts in any state or jurisdiction, including, without limitation, any circumstance in which such Contracts are not registered, qualified and approved, and, in all material respects, issued and sold in accordance with applicable state and federal laws. The Company will make every reasonable effort to prevent the issuance of any such stop order. cease and desist order or similar order and, if any such order is issued, to obtain the lifting thereof at the earliest possible time.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) Each party shall immediately notify the other parties when it receives notice, or otherwise becomes aware of, the commencement of any litigation or proceeding against such party or a person affiliated therewith in connection with the issuance or sale of Trust shares or the Contracts.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) The Company shall provide to the Trust and the Distributor any complaints it has received from Contract Owners pertaining to the Trust or a Fund, and the Trust and Distributor shall each provide to the Company any complaints it has received from Contract Owners relating to the Contracts or the Company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**4.11. Cooperation.** Each party hereto shall cooperate with the other parties and all appropriate government authorities (including without limitation the SEC, the NASD and state securities and insurance regulators) and shall permit such authorities reasonable access to its books and records in connection with any examination, inquiry, or investigation by any such authority relating to this Agreement or the transactions contemplated hereby. However, such access shall not extend to attorney-client privileged information.

**ARTICLE V**

**Sale, Administration and Servicing of the Contracts**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**5.1. Sale of the Contracts.** The Company shall be fully responsible as to the Trust and the Distributor for the sale and marketing of the Contracts. The Company shall provide Contracts, the Contracts' and Trust's Prospectuses, Contracts' Statements of Additional Information, and all amendments or supplements to any of the foregoing to Contract Owners and prospective Contract Owners, all in accordance with federal and state laws. Without limiting the generality of the foregoing, the Company shall: (I) enter into and enforce agreements with affiliated and unaffiliated parties to, and (2) adopt and implement written compliance policies and procedures reasonably designed to, ensure that:

● all persons offering or selling the Contracts are duly licensed and registered under applicable insurance and securities laws,

● all individuals offering or selling the Contracts are duly appointed agents of the Company and are registered representatives of a NASD member broker-dealer,

● each sale of a Contract satisfies applicable suitability requirements under insurance and securities laws and regulations, including without limitation the rules of the NASD,

● persons offering or selling the Contracts disclose to prospective Contract Owners remuneration each expects to receive in connection with sales of the Contracts and any conflicts of interest arising therefrom as required by applicable law, and

● persons offering or selling the Contracts do not intend to engage in Account unit transactions that would violate the Company's or the Trust's disruptive trading policies.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**5.2. Anti-Money Laundering.** The Company shall comply with all applicable laws and regulations designed to prevent money "laundering", and if required by such laws or regulations, to share with the Trust information about individuals, entities, organizations and countries suspected of possible terrorist or money "laundering" activities in accordance with Section 314(b) of the USA Patriot Act. In particular, the Company agrees that:

● as part of processing an application for a Contract, it will verify the identity of applicants and, if an applicant is not a natural person, will verify the identity of prospective principal and beneficial owners submitting an application for a Contract,

● as part of its ongoing compliance with the USA Patriot Act, it will, from time to time, reverify the identity of Contract Owners, including the identity of principal and beneficial owners of Contracts held by non-natural persons,

● as part of processing an application for a Contract, it will verify that no applicant, including prospective principal or beneficial Contract Owners, is a "specially designated national" or a person from an embargoed or "blocked" country as indicated by the Office of Foreign Asset Control ("OFAC") list of such persons,

● as part of its ongoing compliance with the USA Patriot Act, it will, from time to time, reverify that no Contract Owner, including a principal or beneficial Contract Owners, is a "specialty designated national" or a person from an embargoed or "blocked" country as indicated by the Office of Foreign Asset Control ("OFAC") list of such persons,

● it will ensure that money tendered to the Trust as payment for Trust shares did not originate with a bank lacking a physical place of business *(i.e.,* a "shell" bank) or from a country or territory named on the list of high-risk or non-cooperating countries or jurisdictions published by the Financial Action Task Force, and

● if any of the foregoing cease to be true, the Trust or its agents, in compliance with the USA Patriot Act or Bank Secrecy Act, may seek authority to block transactions in Account units arising from accounts of one or more such Contract Owners with the Company or of one or more of the Company's accounts with the Trust.

The Trust and the Distributor shall comply with all applicable laws and regulations designed to prevent money "laundering", and if required by such laws or regulations, to share with the Company information about individuals, entities, organizations and countries suspected of possible terrorist or money "laundering" activities in accordance with Section 314(b) of the USA Patriot Act.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**5.3. Administration and Servicing of the Contracts.** The Company shall be fully responsible for the underwriting, issuance, service and administration of the Contracts and for the administration of the Account, including, without limitation, the calculation of performance information for the Contracts, the timely payment of Contract Owner redemption requests and processing of Contract transactions, and the maintenance of a service center, such functions to be performed in all respects at a level commensurate with those standards prevailing in the variable insurance industry. The Company shall provide to Contract Owners all Trust reports, solicitations for voting instructions including any related Trust proxy solicitation materials, and updated Trust Prospectuses as required under the federal securities laws.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**5.4. Customer Complaints.** The Company shall promptly address all complaints from Contract Owners and resolve such complaints consistent with high ethical standards and principles of ethical conduct.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**5.5. Trust Prospectuses and Reports.** In order to enable the Company to fulfill its obligations under this Agreement and the federal securities laws, the Trust shall provide the Company with a copy, in camera-ready form or form otherwise suitable for printing or duplication of: (a) the Trust's Prospectus for the Series and Classes listed on Schedule 4 and any supplement thereto; (b) any Trust proxy soliciting material for such Series or Classes; and (c) any Trust periodic shareholder reports. The Trust and the Company may agree upon alternate arrangements, but in all cases, the Trust reserves the right to approve the printing of any such material. The Trust shall make available to the Company on the Trust's website each Statement of Additional Information and supplement thereto. The Trust shall provide the Company at least 10 days advance written notice when any such material shall become available, provided, however,' that in the case of a supplement, the Trust shall provide the Company reasonable notice in the circumstances, it being understood that circumstances surrounding such supplement may not allow for advance notice. The Company may not alter any material so provided by the Trust or the Distributor (including, without limitation, presenting or delivering such material in a different medium such as electronic mail or attachments thereto) without the prior written consent of the Distributor.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**5.6. Trust Advertising Material.** Neither the Company or any person directly or indirectly authorized by the Company (including, without limitation, underwriters, distributors, and sellers of the Contracts) shall use any piece of advertising, sales literature or other promotional material in which the Trust, the Distributor, Wells Fargo Bank, or a sub-adviser retained by Wells Fargo Bank to manage a Fund, is named, except with the prior written consent of the Trust or the Distributor. The Company shall furnish to the Trust or the Distributor each such piece of advertising, sales literature or other promotional material at least five (5) days prior to its use. The Trust or the Distributor shall respond to any request for written consent on a prompt and timely basis, but failure to respond shall not relieve the Company of the obligation to obtain the prior written consent of the Trust or the Distributor. After receiving the Trust's or Distributor's consent to the use of any such material, no further changes may be made without obtaining the Trust's or Distributor's consent to such changes. The Trust or Distributor may at any time in its sole discretion revoke such written consent, and upon notification of such revocation, the Company shall no longer use the material subject to such revocation. The Company shall be responsible for filing any such materials with the NASD as applicable.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**5.7. Contracts Advertising Material.** The Trust and the Distributor shall not use any piece of advertising or sales literature or other promotional material in which the Company, an Account or a Contract is named, except with the prior written consent of the Company. The Trust or the Distributor shall furnish to the Company each such piece of advertising, sales literature or other promotional material at least five (5) days prior to its use. The Company shall respond to any request for written consent on a prompt and timely basis, but failure to respond shall not relieve the Trust or the Distributor of the obligation to obtain the prior written consent of the Company. After receiving the Company's consent to the use of any such material, no further changes may be made by the Trust or Distributor without obtaining the Company's consent to such changes. The Company may at any time in its sole discretion revoke any written consent, and upon notification of such revocation, neither the Trust nor the Distributor shall use the material subject to such revocation. The Trust and the Distributor shall be responsible for filing any such materials with the NASD as applicable.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**5.8. Trade :Names.** No party shall use any other party's names, logos, trademarks or service marks, whether registered or unregistered, without the prior written consent of such other party, or after written consent therefor has been revoked except for uses required by a regulatory authority or in regulatory filings. The Company shall not use in advertising, publicity or otherwise the name of the Trust, Distributor, or any of their affiliates nor any trade name, trademark, trade device, service mark, symbol or any abbreviation, contraction or simulation thereof of the Trust, Distributor, or their affiliates without the prior written consent of the Trust or the Distributor in each instance, except for uses required by a regulatory authority or in regulatory filings.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**5.9. Representations by Company.** Except with the prior written consent of the Trust, the Company shall not give any information or make any representations or statements about the Trust or the Funds nor shall it authorize or allow any other person to do so except information or representations contained in the Trust's Registration Statement or the Trust's Prospectuses or in reports or proxy statements for the Trust, or in advertisements, sales literature or other promotional material approved in writing by the Trust or its designee in accordance with this Article V, or in published reports or statements of the Trust in the public domain.

The Company agrees to ensure that advertisements, sales literature or other promotional material for the Contracts prepared by the Company or its affiliates will be consistent with every law, rule, and regulation of any regulatory agency or self-regulatory agency that applies to the Contracts or to the sale of the Contracts, including, but not limited to, NASD Conduct Rule 2210 and IM-2210-1, IM-2210-2 and IM-2210-3 thereunder.

The Company has adopted and implemented, or shall adopt and implement, written compliance procedures reasonably designed to ensure that information concerning the Trust, the Distributor, or any of their affiliates which is intended for use by brokers or agents selling the Contracts *(i.e.,* information that is not intended for distribution to Contract Owners or prospective Contract Owners) is so used, and neither the Trust, the Distributor, nor any of their affiliates shall be liable for any losses, damages, or expenses relating to the improper use of such broker only materials by agents of the Company or its affiliates who are unaffiliated with the Trust or the Distributor. The parties hereto agree that this Section 5.9 is not intended to designate nor otherwise imply that the Company is an underwriter or distributor of the Trust's shares.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**5.10. Representations by Trust.** Except with the prior written consent of the Company, the Trust shall not give any information or make any representations on behalf of the Company or concerning the Company, the Accounts or the Contracts other than the information or representations contained in the appropriate Contract Registration Statement or Contract Prospectus or in published reports of the Company or the Accounts which are in the public domain or in advertisements, sales literature or other promotional material approved in writing by the Company in accordance with this Article V.

The Trust agrees to ensure that advertisements, sales literature or other promotional material for the Trust prepared by the Distributor or its affiliates in connection with the sale of the Contracts will be consistent with every law, rule, and Regulation of any regulatory agency or self regulatory agency that applies to the Trust or to the sale of Trust shares, including, but not limited to, NASD Conduct Rule 2210 and IM-221 0-1, IM-221 0-2 and IM-221 0-3 thereunder.

The Trust or the Distributor shall mark information produced by or on behalf of the Trust which is intended for use by brokers or agents selling the Contracts (i.e., information that is not intended for distribution to Contract Owners or prospective Contract Owners) "FOR BROKER USE ONLY,'' and neither the Company nor any of its affiliates shall be liable for any losses, damages, or expenses arising on account of the use by brokers of such information with third parties in the event that is not so marked.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**5.11. Advertising.** For purposes of this Article V, the phrase "advertising, sales literature or other promotional material" includes, but is not limited to, any material constituting sales literature or advertising under the NASD Conduct rules, the I 940 Act or the I 933 Act. Such material includes, without limitation, the following materials for prospective Contract Owners, existing Contract Owners, wholesalers and other broker-dealers, rating or ranking agencies, or the press:

● advertisements (such as material published, or designed for use in, a newspaper, magazine, or other periodical, radio, television, telephone or tape recording, videotape display, signs or billboards, motion pictures, websites, or other public media),

● sales literature *(i.e.,* any written communication distributed or made generally available to customers or the public, including brochures, circulars, research reports, market letters, form letters, seminar texts, reprints or excerpts of any other advertisement, sales literature, electronic mail, or published article),

● educational or training materials or other communications distributed or made generally available to some or all agents or employees, and

● registration statements, prospectuses, statements of additional information, shareholder reports, and proxy materials.

**ARTICLE VI**

**Compliance with Code**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**6.1. Section 817(h).** The Trust will at all times invest money from the Contracts in such a manner as to ensure that the Contracts will be treated as variable contracts the Code and regulations thereunder. Without limiting the scope of the foregoing, the Trust shall ensure that each Fund will comply with Section 817(h) ofthe Code and Treasury Regulation 1.817-5 thereunder, relating to the diversification requirements for variable annuity, endowment, or life insurance contracts, and any amendments or other modifications to such Section and Regulation or successors thereto. The Trust shall notify the Company immediately upon having a reasonable basis for believing that a Fund has failed to so comply or that it might not comply in the future.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**6.2. Subchapter M.** The Trust shall maintain the qualification of each Fund as a regulated investment company (under Subchapter M or any successor or similar provision), and the Trust shall notify the Company immediately upon having a reasonable basis for believing that a Fund has ceased to so qualify or that it might not so qualify in the future.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**6.3. Contracts.** The Company shall ensure that at the time each Contract is issued it is treated as a life insurance, endowment, or annuity contract under applicable provisions of the Code, and that as long as the Accounts hold shares of the Trust the Company shall maintain such treatment for each outstanding Contract. The Company shall notify the Trust and the Distributor immediately upon having any basis for believing that the Contracts will not be treated as life insurance, endowment, or annuity contracts under applicable provisions of the Code.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**6.4 Regulation 1.817-S(f).** The Company shall ensure that no Fund fails to remain eligible for "look-through" treatment under Treasury Regulation 1.817-S(f) by reason of a current or future failure of the Company, the Accounts or the Contracts to comply with any applicable requirements of the Code or Treasury Regulations. The Company shall notify the Trust and the Distributor immediately upon having any basis for believing that the failure of the Company, the Accounts or the Contracts to comply with any applicable requirements of the Code or Treasury Regulations could render a Fund ineligible, or jeopardize a Fund's eligibility, for '"look-through" treatment under Treasury Regulation 1.817-S(f). In the event of such a failure, the Company shall take all necessary steps to cure any such failure, including, if necessary, obtaining a waiver or closing agreement with respect to such failure from the U.S. Internal Revenue Service at the Company's expense.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**6.5 Modified Endowment Contracts.** The Company shall ensure that any Prospectus offering a variable life insurance Contract in circumstances where it is reasonably probable that such Contract would be a "modified endowment contract," as that tennis defined in Section 7702A of the Internal Revenue Code, will identify such Contract as a modified endowment contract.

**ARTICLE VII**

**Expenses**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**7.1. Expenses.** All expenses incident to each party's performance under this Agreement (including expenses expressly assumed by such party pursuant to this Agreement) shall be paid by such party to the extent permitted by law.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**7.2. Trust Expenses.** Expenses incident to the Trust's performance of its duties and obligations under this Agreement include, but are not limited to, the costs of:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) registration and qualification of the Trust shares under the federal securities laws;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) preparation and filing with the SEC of the Trust's Prospectuses, Trust's Statement of Additional Information, Trust's Registration Statement, Trust proxy materials and shareholder reports, and preparation of a "camera-ready" copy of the foregoing;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) preparation of all statements and notices required by any federal or state securities law;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) printing of all proxy materials, shareholder reports, prospectuses and other documents required to be provided by the Trust to its existing shareholders, and providing sufficient copies of the same to the Company for distribution to Contract Owners currently invested in the Trust; provided, however, that if the Company prints copies of the Trust's prospectuses (or portions thereof) as part of a larger document containing prospectuses of other investment companies, the Trust shall bear the expense only of its share of the cost of printing the document (for this purpose, the Trust's share shall be the percentage of the total cost of the document represented by the ratio that the number of pages of the Trust's prospectus bears to the total number of pages);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) all taxes on the issuance or transfer of Trust shares;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) payment of all applicable fees relating to the Trust, including, without limitation, all fees due under Rule 24f-2 in connection with sales of Trust shares to qualified retirement plans, custodial, auditing, transfer agent and advisory fees, fees for insurance coverage and Trustees' fees; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g) any expenses permitted to be paid or assumed by the Trust pursuant to a plan, if any, under Rule 12b-1 under the 1940 Act.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**7.3. Company Expenses.** Expenses incident to the Company's performance of its duties and obligations under this Agreement include, but are not limited to, the costs of:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) registration and qualification of the Contracts under the federal securities laws;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) preparation and filing with the SEC of the Contracts' Prospectus and Contracts' Registration Statement;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) the sale, marketing and distribution of the Contracts, including printing and dissemination of Contract Prospectuses to current and prospective Contract owners and of the Trust's Prospectuses to prospective Contract Owners as well as compensation for Contract sales;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) administration of the Contracts;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) solicitation of voting instructions, including distribution of Trust proxy materials to Contract Owners;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) payment of all applicable fees relating to Accounts and the Contracts, including, without limitation, all fees due under Rule 24f-2;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g) preparation, printing and dissemination of all statements and notices to Contract Owners required by any federal or state insurance law other than those paid for by the Trust; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h) preparation, printing and dissemination of all marketing materials for the Contracts and, as related to the activities contemplated by this Agreement, the Trust except where other arrangements are made in advance.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**7.4. Other Expenses and Payments.** The Trust and the Distributor shall pay no fee or other compensation to the Company under this Agreement. Each party, however, shall, in accordance with the allocation of expenses specified in this Agreement, reimburse other parties for expenses initially paid by one party, but allocated to another party. In addition, nothing herein shall prevent the parties from otherwise agreeing to perform, and arranging for appropriate compensation for, other services relating to the Trust, the Distributor, the Company or the Accounts. Notwithstanding the foregoing, pursuant to the distribution plan adopted by the Trust pursuant to Rule 12b-l under the 1940 Act, and as contemplated by Article 3. 2(g) of this Agreement, the Trust or any Series or Class thereof may pay the Distributor and the Distributor may pay the principal underwriter or distributor of one or more classes of Contracts for activities primarily intended to result in the sale of Contracts or of Trust shares the Accounts through which such Contracts are issued. Likewise, if the Trust or any Series or Class adopts and implements a shareholder service plan pursuant to Rule 12b-l under the 1940 Act, or otherwise, then the Trust or the appropriate Series or Class shallpay the Distributor and the Distributor shall pay the principal underwriter or distributor of one or more classes of Contracts, or the Company, for activities related to personal service and/or maintenance of Contract Owner accounts, as permitted by such Plan.

**ARTICLE VIII**

**Potential Conflicts**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**8.1. SEC Order.** The parties to this Agreement acknowledge that the Trust has obtained an SEC order (the "SEC Order") granting exemptions from various provisions of the 1940 Act and the rules thereunder to Participating Accounts supporting variable life insurance policies to the extent necessary to permit them to hold Trust shares when Trust shares also are sold to and held by variable annuity and variable life insurance separate accounts of both affiliated and unaffiliated Participating Insurance Companies and other Qualified Persons (as defined in Section 2.8 hereof). The SEC Order is conditioned upon the Trust and each Participating Insurance Company complying with conditions and undertakings substantially as provided in this Article VIII. The Trust will not enter into a participation agreement with any other Participating Insurance Company unless it imposes the same conditions and undertakings on that company as are imposed on the Company pursuant to this Article VIII.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**8.2. Company Monitoring Requirements.** The Company will monitor its operations and those of the Trust for the purpose of identifying any material irreconcilable conflicts or potential material irreconcilable conflicts between or among the interests of Participating Plans, Product Owners of variable life insurance policies and Product Owners of variable annuity contracts.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**8.3. Company Reporting Requirements.** The Company shall report any conflicts or potential conflicts to the Trust Board and will provide the Trust Board, at least annually, with all information reasonably necessary for the Trust Board to consider any issues raised by such existing or potential conflicts or by the conditions and undertakings required by the Exemptive Order. The Company also shall assist the Trust Board in carrying out its obligations including, but not limited to: (a) informing the Trust Board whenever it disregards Contract Owner voting instructions with respect to variable life insurance policies, and (b) providing such other information and reports as the Trust Board may reasonably request. The Company will carry out these obligations with a view only to the interests of Contract Owners.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**8.4. Trust Board Monitoring and Determination.** The Trust Board shall monitor the Trust for the existence of any material irreconcilable conflicts between or among the interests of Participating Plans, Product Owners of variable life insurance policies and Product Owners of variable annuity contracts and determine what action, if any, should be taken in response to those conflicts. A majority vote of Trustees who are not interested persons of the Trust as defined in the 1940 Act (the "disinterested trustees") shall represent a conclusive determination as to the existence of a material irreconcilable conflict between or among the interests of Product Owners and Participating Plans and as to whether any proposed action adequately remedies any material irreconcilable conflict. The Trust Board shall give prompt written notice to the Company and Participating Plan of any such determination. Minutes of the meetings of the Trust Board, or other appropriate records of the Trust, shall record all reports received by the Board regarding such conflicts and all actions taken by the Board in response.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**8.5. Undertaking to Resolve Conflict.** In the event that a material irreconcilable conflict of interest arises between Product Owners of variable life insurance policies or Product Owners of variable annuity contracts and Participating Plans, the Company will, at its own expense, take whatever action is necessary to remedy such conflict as it adversely affects Contract Owners up to and including (1) establishing a new registered management investment company, and (2) withdrawing assets from the Trust attributable to reserves for the Contracts subject to the conflict and reinvesting such assets in a different investment medium (including another Fund) or submitting the question of whether such withdrawal should be implemented to a vote of all affected Contract Owners, and, as appropriate, segregating the assets supporting the Contracts of any group of such owners that votes in favor of such withdrawal, or offering to such owners the option of making such a change. The Company will carry out the responsibility to take the foregoing action with a view only to the interests of Contract Owners.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**8.6. Withdrawal.** If a material irreconcilable conflict arises because of the Company's decision to disregard the voting instructions of Contract Owners of variable life insurance policies and that decision represents a minority position or would preclude a majority vote at any Fund shareholder meeting, then, if Trust Board so requests, the Company will redeem the shares of the Trust to which the disregarded voting instructions relate and terminate this Agreement with respect to the Account through which such Contracts were issued. No charge or penalty, however, will be imposed in connection with such a redemption.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**8.7. Expenses Associated with Remedial Action.** In no event shall the Trust be required to bear the expense of establishing a new funding medium for any Contract. The Company shall not be required by this Article Vlll to establish a new funding medium for any Contract if an offer to do so has been declined by vote of a majority of the Contract Owners materially adversely affected by the irreconcilable material conflict.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**8.8. Successor Rules.** If and to the extent that Rule 6e-2 and Rule 6e-3(T) are amended, or Rule 6e-3 is adopted, to provide exemptive relief from any provisions of the 1940 Act or the rules promulgated thereunder with respect to mixed and shared funding on terms and conditions materially different from those contained in the SEC Order, then (a) the Trust and/or the Company, as appropriate, shall take such steps as may be necessary to comply with Rules 6e-2 and 6e-3(T), as amended, or Rule 6e-3, as adopted, as applicable, to the extent such rules are applicable, and (b) Sections 8.2 through 8.7 of this Agreement shall continue in effect only to the extent that terms and conditions substantially identical to such Sections are contained in such Rule(s) as so amended or adopted.

**ARTICLE IX**

**Indemnification**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**9.1. Indemnification by the Company.** The Company hereby agrees to, and shall, indemnify and hold harmless the Trust, the Distributor and each person who controls or is affiliated with the Trust or the Distributor within the meaning of such terms under the 1933 Act or 1940 Act (but not any Participating Insurance Companies or Qualified Persons) and any officer, trustee, partner, director, employee or agent of the foregoing, against any and all losses, claims, damages or liabilities, joint or several (including any investigative, legal and other expenses reasonably incurred in connection with, and any amounts paid in settlement of, any action, suit or proceeding or any claim asserted}, to which they or any of them may become subject under any statute or regulation, at common law or otherwise, insofar as such losses, claims, damages, expenses or liabilities:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) arise out of or are based upon any untrue statement or alleged untrue statement of any material fact contained in the Contracts Registration Statement, Contracts Prospectus, sales literature or other promotional material for the Contracts or the Contracts themselves (or any amendment or supplement to any of the foregoing}, or arise out of or are based upon the omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading in light of the circumstances in which they were made; provided that this obligation to indemnify shall not apply if such statement or omission was made in reliance upon and in conformity with information furnished in writing to the Company by the Trust or the Distributor for use in the Contracts Registration Statement, Contracts Prospectus or in the Contracts or sales literature or promotional material for the Contracts (or any amendment or supplement to any of the foregoing) or otherwise for use in connection with the sale of the Contracts or Trust shares; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) arise out of any untrue statement or alleged untrue statement of a material fact contained in the Trust Registration Statement, any Prospectus for Series or Classes or sales literature or other promotional material of the Trust (or any amendment or supplement to any of the foregoing), or the omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading in light of the circumstances in which they were made, if such statement or omission was made in reliance upon and in conformity with information furnished to the Trust or Distributor in writing by or on behalf of the Company; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) arise out of or are based upon statements or representations by or on behalf of the Company (other than statements or representations contained in the Trust Registration Statement, Trust Prospectus, or advertisements, sales literature or other promotional material of the Trust not prepared or supplied by the Company or persons under its control) or any wrongful conduct of, or violation of federal or state law by, the Company or persons under its control or subject to its authorization, including without limitation, any broker-dealers or agents authorized to sell the Contracts, with respect to the sale, marketing or distribution of the Contracts or Trust shares, including, without limitation, any impermissible use of broker-only material, unsuitable or improper sales of the Contracts or unauthorized representations about the Contracts or the Trust; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) arise as a result of any failure by the Company or persons under its control (or subject to its authorization) to provide services, furnish materials or make payments as required under this Agreement; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) arise out of or result from any material breach by the Company or persons under its control (or subject to its authorization) of this Agreement; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) arise out of or result from any breach of any representation or warranty made by the Company in this Agreement hereof, any failure to transmit a request for redemption or purchase of Trust shares or payment therefor on a timely basis in accordance with the procedures set forth in Article II, or any failure to deliver a Fund's prospectus as required by Article 4.3 hereunder.

This indemnification is in addition to any liability that the Company may otherwise have; provided, however, that no party shall be entitled to indemnification if such loss, claim, damage or liability is caused by the wilful misfeasance, bad faith, gross negligence or reckless disregard of duty by the party seeking indemnification.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**9.2. Indemnification by the Trust.** The Trust hereby agrees to, and shall, indemnify and hold harmless the Company and each person who controls or is affiliated with the Company within the meaning of such terms under the 1933 Act or 1940 Act and any officer, director, employee or agent of the foregoing, against any and all losses, claims, damages or liabilities, joint or several (including any investigative, legal and other expenses reasonably incurred in connection with, and any amounts paid in settlement of, any action, suit or proceeding or any claim asserted), to which they or any of them may become subject under any statute or regulation, at common law or otherwise, insofar as such losses, claims, damages, expenses or liabilities are related to the operations of the Trust and:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) arise out of or are based upon any failure by the Trust to provide the services and furnish the materials under the terms of this Agreement (including a failure, whether unintentional or in good faith or otherwise, to comply with the diversification requirements and procedures related thereto as specified in Article VI of this Agreement); or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) arise out of or result from any material breach of any representation or warranty made by the Trust under this Agreement or arise out of or result from any other material breach of this Agreement by the Trust.

it being understood that in no way shall the Trust be liable to the Company with respect to any violation of insurance law, compliance with which is a responsibility of the Company under this Agreement or otherwise or as to which the Company failed to inform the Trust in accordance with Section 4.4 hereof. This indemnification is in addition to any liability that the Trust may otherwise have; provided, however, that no party shall be entitled to indemnification if such loss, claim, damage or liability is caused by the willful misfeasance, bad faith, gross negligence or reckless disregard of duty by the party seeking indemnification.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**9.3. Indemnification by the Distributor.** The Distributor hereby agrees to, and shall, indemnify and hold harmless the Company and each person who controls or is affiliated with the Company within the meaning of such terms under the 1933 Act or 1940 Act and any officer, director, employee or agent of the foregoing, against any and all losses, claims, damages or liabilities, joint or several (including any investigative, legal and other expenses reasonably incurred in connection with, and any amounts paid in settlement of, any action, suit or proceeding or any claim asserted), to which they or any of them may become subject under any statute or regulation, at common law or otherwise, insofar as such losses, claims, damages, expenses or liabilities:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) arise out of or are based upon any untrue statement or alleged untrue statement of any material fact contained in the Trust Registration Statement, any Prospectus for Series or Classes or sales literature or other promotional material of the Trust (or any amendment or supplement to any of the foregoing), or arise out of or are based upon the omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading in light of the circumstances in which they were made; provided that this obligation to indemnify shall not apply if such statement or omission or alleged statement or omission was made in reliance upon and in conformity with information furnished in writing by the Company to the Trust or Distributor for use in the Trust Registration Statement, Trust Prospectus or sales literature or promotional material for the Trust (or any amendment or supplement to any of the foregoing) or otherwise for use in connection with the sale of the Contracts or Trust shares; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) arise out of any untrue statement or alleged untrue statement of a material fact contained in the Contracts Registration Statement, Contracts Prospectus or sales literature or other promotional material for the Contracts (or any amendment or supplement to any of the foregoing), or the omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading in light of the circumstances in which they were made, if such statement or omission or alleged statement or omission was made in reliance upon information furnished in writing by or on behalf of the Distributor to the Company; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) arise out of or are based upon statements or representations by or on behalf of the Distributor (other than statements or representations contained in the Contracts or in the Contract or Trust Registration Statement, Contract or Trust Prospectus, or advertisements, sales literature or other promotional material of the Contracts or Trust not prepared or supplied by the Distributor or persons under its control) or wrongful conduct of the Distributor or persons under its control with respect to the sale of Trust shares or the Contracts; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) arise as a result of any failure by the Distributor or persons under its control to provide services, furnish materials or make payments as required under the terms of this Agreement; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) arise out of or result from any material breach by the Distributor or persons under its control of this Agreement;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) arise out of or result from any breach of any representation or warranty made by the Distributor in this Agreement hereof.

it being understood that in no way shall the Distributor be liable to the Company with respect to any violation of insurance law, compliance with which is a responsibility of the Company under this Agreement or otherwise or as to which the Company failed to inform the Distributor in accordance with Section 4.4 hereof. This indemnification is in addition to any liability that the Distributor may otherwise have; provided, however, that no party shall be entitled to indemnification if such loss, claim, damage or liability is caused by the wilful misfeasance, bad faith, gross negligence or reckless disregard of duty by the party seeking indemnification.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**9.4. Indemnification Procedures.** After receipt by a party entitled to indemnification ("indemnified party") under this Article IX of notice of the commencement of any action, if a claim in respect thereof is to be made by the indemnified party against any person obligated to provide indemnification under this Article IX ("indemnifying party"), such indemnified party will notify the indemnifying party in writing of the commencement thereof as soon as practicable thereafter, provided that the omission to so notify the indemnifying party will not relieve the indemnifying party from any liability under this Article IX, except to the extent that the omission results in a failure of actual notice to the indemnifying party and such indemnifying party is damaged solely as a result of the failure to give such notice. The indemnifying party, upon the request of the indemnified party, shall retain counsel reasonably satisfactory to the indemnified party to represent the indemnified party and any others the indemnifying party may designate in such proceeding and shall pay the reasonable fees and disbursements of such counsel related to such proceeding. In any such proceeding, any indemnified party shall have the right to retain· its own counsel, but the fees and expenses of such counsel shall be at the expense of such indemnified party unless: (a) the indemnifying party and the indemnified party shall have mutually agreed to the retention of such counsel, or (b) the named parties to any such proceeding (including any impleaded parties) include both the indemnifying party and the indemnified party and representation of both parties by the same counsel would be inappropriate due to actual or potential differing interests between them. The indemnifying party shall not be liable for any settlement of any proceeding effected without its written consent, but if settled with such consent or if there be a final judgment for the plaintiff, the indemnifying party agrees to indemnify the indemnified party from and against any loss or liability by reason of such settlement or judgment.

A successor by law of the parties to this Agreement shall be entitled to the benefits of the indemnification contained in this Article IX. The indemnification provisions contained in this Article IX shall survive any termination of this Agreement.

**ARTICLE X**

**Relationship of the Parties; Termination**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**10.1. Relationship of Parties.** The Company is an independent contractor vis-a-vis the Trust, the Distributor, or any of their affiliates for all purposes hereunder and will have no authority to act for or represent any of them. (except to the limited extent the Company acts as agent of the Trust pursuant to Section 2.3(a) of this Agreement). In addition, no officer or employee of the Company will be deemed to be an employee or agent of the Trust, Distributor, or any of their affiliates. The Company will not act as an "underwriter" or "distributor" of Trust shares, as those terms variously are used in the 1940 Act, the 1933 Act, and rules and regulations promulgated thereunder. Likewise, the Company is not a "transfer agent" of the Trust as that term is used in the 1934 Act and rules and regulations thereunder. Consistent with the foregoing, the Company is not a "service provider" to the Trust as that term is defined in Rule 38a-1 under the 1940 Act. The Company agrees to cooperate with the Trust in the Trust's efforts to comply with Rule 38a-l, including, but not limited to:

● adopting and implementing written compliance policies and procedures reasonably designed to prevent the Company violating the federal securities laws (as defined in the Rule) in its provision of services to the Trust pursuant to this Agreement, and

● providing copies of such written compliance policies and procedures to the Trust' s chief compliance officer on an annual basis.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**10.2. Non-Exclusivity and Non-Interference.** The parties hereto acknowledge that the arrangement contemplated by this Agreement is not exclusive; the Trust shares may be sold to other insurance companies and investors (subject to Section 2.8 hereof) and the cash value of the Contracts may be invested in other investment companies, provided, however, that until this Agreement is terminated pursuant to this Article X:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) the Company shall not, without prior notice to the Distributor (unless otherwise required by applicable law), take any action to operate the Account as a management investment company under the 1940 Act;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) the Company shall not, without the prior written consent of the Distributor (unless otherwise required by applicable law), solicit, induce or encourage Contract Owners to change or modify the Trust to change the Trust's distributor or investment adviser, to transfer or withdraw Contract Values allocated to a Fund, or to exchange their Contracts for contracts not allowing for investment in the Trust;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) the Company shall not substitute shares of another investment company for shares one or more Funds without providing written notice to the Distributor at least 90 days in advance of effecting any such substitution; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) the Company shall not withdraw the Account's investment in the Trust or a Fund of the Trust except as necessary to facilitate Contract Owner requests and routine transactions in Account units.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**10.3. Termination of Agreement.** This Agreement shall not terminate until (a) the Trust is dissolved, liquidated, or merged into another entity, or (b) as to any Fund that has been made available hereunder, no Accounts continue to invest in that Fund and the Company has confirmed in writing to the Distributor that it no longer intends to invest in such Fund. However, certain obligations of, or restrictions on, the parties to this Agreement may terminate as provided in Sections 10.4 through 10.6 and the Company may be required to redeem Trust shares pursuant to Section 10.7 or in the circumstances contemplated by Article VIII. Article IX and Sections 5.8, and 10.8 shall survive any termination of this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**10.4. Termination of Offering of Trust Shares.** The obligation of the Trust and the Distributor to make Trust shares available to the Company for purchase pursuant to Article II of this Agreement shall terminate at the option of the Distributor upon written notice to the Company as provided below:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) upon institution of formal proceedings against the Company by the NASD, the SEC, the insurance commission of any state or any other regulatory body regarding the Company's duties under this Agreement or related to the sale of the Contracts, the operation of the Account, the administration of the Contracts or the purchase of Trust shares, or a ruling or judgment which would, in the Distributor's reasonable judgment exercised in good faith, materially impair the Company's or Trust's ability to meet and perform the Company's or Trust's obligations and duties hereunder, such termination effective upon 15 days prior written notice;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) in the event that any Schedule 1 Contract is not registered or in the event any of the Contracts are not otherwise issued or sold in accordance with applicable federal and/or state law, such termination effective immediately upon receipt of written notice;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) if the Distributor shall determine, in its sole judgment exercised in good faith, that either (1) the Company shall have suffered a material adverse change in its business or financial condition or (2) the Company shall have been the subject of material adverse publicity which is likely to have a material adverse impact upon the business and operations of either the Trust or the Distributor, such termination effective upon 60 days prior written notice;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) if the Distributor suspends or terminates the offering of Trust shares of any Series or Class to all Participating Investors or only designated Participating Investors, if such action is required by law or by regulatory authorities having jurisdiction or if, in the sole discretion of the Distributor acting in good faith, suspension or termination is necessary in the best interests of the shareholders of any Series or Class (it being understood that "shareholders" for this purpose shall mean Product Owners), such notice effective immediately upon receipt of written notice, it being understood that a lack of Participating Investor interest in a Series or Class may be grounds for a suspension or termination as to such Series or Class and that a suspension or termination shall apply only to the specified Series or Class; provided, however, that if such suspension or termination is at the discretion of the Distributor, such suspension or termination shall be effective upon 60 days prior written notice;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) upon the Company's assignment of this Agreement (including, without limitation, any transfer of the Contracts or the Account to another insurance company pursuant to an assumption reinsurance agreement) unless the Trust consents thereto, such termination effective upon 30 days prior written notice;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) if the Company is in material breach of any provision of this Agreement, which breach has not been cured to the satisfaction of the Trust within 10 days after written notice of such breach has been delivered to the Company, such termination effective upon expiration of such 10-day period; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g) upon the determination of the Trust's Board to dissolve, liquidate or merge the Trust as contemplated by Section 10.3(a), upon termination of the Agreement pursuant to Section 10.3(b), or upon notice from the Company pursuant to Section 10.5 or 10.6, such termination pursuant hereto to be effective upon 15 days prior written notice.

Except in the case of an option exercised under clause (b), (d) or (g), the obligations shall terminate only as to new Contracts and the Distributor shall continue to make Trust shares available to the extent necessary to permit owners of Contracts in effect on the effective date of such termination (hereinafter referred to as "Existing Contracts") to reallocate investments in the Trust, redeem investments in the Trust and/or invest in the Trust upon the making of additional purchase payments under the Existing Contracts.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**10.5. Termination by the Company of Investment in a Fund.** The Company may elect to cease investing in a Fund or withdraw its investment or the Account's investment in a Fund, subject to compliance with applicable law, upon 60 days written notice to the Trust, or upon written notice to the Trust within 15 days of the occurrence of any of the following events (unless provided otherwise below):

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) if the Trust informs the Company pursuant to Section 4.4 that it will not cause such Fund to comply with investment restrictions as requested by the Company and the Trust and the Company are unable to agree upon any reasonable alternative accommodations;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) if shares in such Fund are not reasonably available to meet the requirements of the Contracts as determined by the Company (including any non· availability as a result of notice given by the Distributor pursuant to Section 10.4(d)), and the Distributor, after receiving written notice from the Company of such non-availability, fails to make available, within I 0 days after receipt of such notice, a sufficient number of shares in such Fund or an alternate Fund to meet the requirements of the Contracts; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) if such Fund fails to meet the diversification requirements specified in Section 817(h) of the Code and any regulations thereunder and the Trust, upon written request, fails to provide reasonable assurance that it will take action to cure or correct such failure; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) if such Fund ceases to qualify as a regulated investment company under Subchapter M of the Code, as defined therein, or any successor or similar provision, or if the Company reasonably believes that the Fund may fail to so qualify, and the Trust, upon written request, fails to provide reasonable assurance that it will take action to cure or correct such failure within 30 days;

Such termination shall apply only as to the affected Fund and shall not apply to any other Fund in which the Company or the Account invests.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**10.6. Termination by the Company of Investment in all Funds.** The Company may elect to cease investing in all Series or Classes of the Trust made available hereunder or withdraw its investment or an Account's investment in the Trust, subject to compliance with applicable law, upon 60 days written notice to the Trust, or upon written notice to the Trust as provided below:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) upon institution of formal proceedings against the Trust or the Distributor by the NASD, the SEC or any state securities or insurance commission or any other regulatory body, such termination effective upon 15 days prior written notice; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) if the Trust or Distributor is in material breach of a provision of this Agreement, which breach has not been cured to the satisfaction of the Company within 10 days after written notice of such breach has been delivered to the Trust or the Distributor, as the case may be, such termination effective upon expiration of such 10-day period.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**10.7. Company Required to Redeem.** The parties understand and acknowledge that it is essential for compliance with Section 817(h) of the Code that the Contracts qualify as annuity contracts or life insurance policies, as applicable, under the Code. Accordingly, if any of the Contracts cease to qualify as annuity contracts or life insurance policies, as applicable, under the Code, or if the Trust reasonably believes that any such Contracts may fail to so qualify, the Trust shall have the right to require the Company to redeem Trust shares attributable to such Contracts upon notice to the Company and the Company shall so redeem such Trust shares in order to ensure that the Trust complies with the provisions of Section 817(h) of the Code applicable to ownership of Trust shares. Notice to the Company shall specify the period of time the Company has to redeem the Trust shares or to make other arrangements satisfactory to the Trust and its counsel, such period of time to be determined with reference to the requirements of Section 817(h) of the Code. In addition, the Company may be required to redeem Trust shares pursuant to action taken or request made by the Trust Board in accordance with the SEC Order described in Article VIII or any conditions or undertakings set forth or referenced therein, or other SEC rule, regulation or order that may be adopted after the date hereof. The Company agrees to redeem shares in the circumstances described herein and to comply with applicable terms and provisions. Also, in the event that the Distributor suspends or terminates the offering of a Series or Class pursuant to Section 10.4(d) of this Agreement, the Company, upon request by the Distributor, will cooperate in taking appropriate action to withdraw the Account's investment in the respective Fund.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**10.8. Confidentiality.** Each party will keep confidential any information acquired as a result of this Agreement regarding the business and affairs of the other parties, and their affiliates.

**ARTICLE XI**

**Applicability to New Accounts and New Contracts**

The parties to this Agreement may amend the schedules to this Agreement from time to time to reflect, as appropriate, changes in or relating to the Contracts, any Series or Class, additions of new classes of Contracts to be issued by the Company and separate accounts therefor investing in the Trust. Such amendments may be made effective by each party acknowledging in writing its approval of a copy of the revised schedule. The provisions of this Agreement shall be equally applicable to each such class of Contracts, Series, Class or separate account, as applicable, effective as of the date of amendment of such Schedule, unless the context otherwise requires. The parties to this Agreement may amend this Agreement from time to time by written agreement signed by all of the parties.

**ARTICLE XII**

**Notice, Request or Consent**

Any notice, request or consent to be provided pursuant to this Agreement is to be made in writing and shall be given:

If to the Trust or the Distributor:

National Accounts

Wells Fargo Advantage Funds

525 Market Street, 12th Floor

MAC A0103-123

San Francisco, CA 941 05

If to the Company:

Marcus L. Collins

Second Vice President and Counsel

The Ohio National Life Insurance Company

Ohio National Life Assurance Corporation

One Financial Way

Cincinnati, OH 45242

or at such other address as such party may from time to time specify in writing to the other party. Each such notice, request or consent to a party shall be sent by registered or certified United States mail with return receipt requested or by overnight delivery with a nationally recognized courier, and shall be effective upon receipt. Notices pursuant to the provisions of Article II may be sent by facsimile to the person designated in writing for such notices.

**ARTICLE XIII**

**Miscellaneous**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**13.1. Interpretation.** This Agreement shall be construed and the provisions hereof interpreted under and in accordance with the laws of the state of Delaware, without giving effect to the conflicts of laws provisions thereof, subject to the following rules:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) This Agreement shall be subject to the provisions of the 1933 Act, 1940 Act and Securities Exchange Act of 1934, as amended, and the rules, regulations and rulings thereunder, including the SEC Order and such other exemptions from those statutes, rules, and regulations as the SEC may grant, and the terms hereof shall be limited, interpreted and construed in accordance therewith.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) The captions in this Agreement are included for convenience of reference only and in no way define or delineate any of the provisions hereof or otherwise affect their construction or effect.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) If any provision of this Agreement shall be held or made invalid by a court decision, statute, rule or otherwise, the remainder of the Agreement shall not be affected thereby.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) The rights, remedies and obligations contained in this Agreement are cumulative and are in addition to any and all rights, remedies and obligations, at law or in equity, which the parties heFeto are entitled to under state and federal laws.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**13.2. Counterparts.** This Agreement may be executed simultaneously in two or more counterparts, each of which together shall constitute one and the same instrument.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**13.3. No Assignment.** Neither this Agreement nor any of the rights and obligations hereunder may be assigned by the Company, the Distributor or the Trust without the prior written consent of the other parties.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**13.4. Declaration of Trust.** A copy of the Declaration of Trust of the Trust is on file with the Secretary of State of the state of Delaware, and notice is hereby given that this Agreement is executed on behalf of the Trustees of the Trust as trustees, and is not binding upon any of the Trustees, officers or shareholders of the Trust individually, but binding only upon the assets and property of the Trust. No Series of the Trust shall be liable for the obligations of any other Series of the Trust.

IN WITNESS WHEREOF, each of the parties hereto has caused this Agreement to be executed in its name and behalf by its duly authorized officer on the date specified below.

---

| | | | | |
|:---|:---|:---|:---|:---|
|  |  | WELLS FARGO VARIABLE TRUST | WELLS FARGO VARIABLE TRUST | WELLS FARGO VARIABLE TRUST |
|  |  |  | (Trust) | (Trust) |
| Date: | 8/12/05 | By: | /s/ C David Messman | /s/ C David Messman |
|  |  |  | Name: | C David Messman |
|  |  |  | Title: | Secretary |
|  |  | WELLS FARGO FUNDS DISTRIBUTORS, LLC | WELLS FARGO FUNDS DISTRIBUTORS, LLC | WELLS FARGO FUNDS DISTRIBUTORS, LLC |
|  |  |  | (Distributors) | (Distributors) |
| Date: | 8/8/05 | By: | /s/ Carol Jones Lorts | /s/ Carol Jones Lorts |
|  |  |  | Name: | Carol Jones Lorts |
|  |  |  | Title: | Director |
|  |  | THE OHIO NATIONAL LIFE INSURANCE COMPANY | THE OHIO NATIONAL LIFE INSURANCE COMPANY | THE OHIO NATIONAL LIFE INSURANCE COMPANY |
|  |  |  | (Company) | (Company) |
| Date: | July, 29, 2005 | By: | /s/ John J. Palmer | /s/ John J. Palmer |
|  |  |  | Name: | John J. Palmer |
|  |  |  | Title: | Vice Chairman |
|  |  | OHIO NATIONAL LIFE ASSURANCE CORPORATION | OHIO NATIONAL LIFE ASSURANCE CORPORATION | OHIO NATIONAL LIFE ASSURANCE CORPORATION |
|  |  |  | (Company) | (Company) |
| Date: | July, 29, 2005 | By: | /s/ John J. Palmer | /s/ John J. Palmer |
|  |  |  | Name: | John J. Palmer |
|  |  |  | Title: | Vice Chairman |
|  |  | OHIO NATIONAL EQUITIES, INC. | OHIO NATIONAL EQUITIES, INC. | OHIO NATIONAL EQUITIES, INC. |
|  |  | By: | /s/ John J. Palmer | /s/ John J. Palmer |
|  |  |  | Name: | John J. Palmer |
|  |  |  | Title: | President |

---

**<u>Schedule 1</u>**

Registered Accounts of the Company

Investing in the Trust

Effective as of the date the Agreement was executed, the following separate accounts of the Company are subject to the Agreement:

---

| | | | |
|:---|:---|:---|:---|
| Name of Account | Date Established by<br> Board of Directors of<br> the Company | SEC 1940 Act<br> Registration<br> Number | Type of Product<br> Supported by<br> Account |
| Ohio National Variable Account R | 05/06/1985 | 811-4320 | Variable life insurance |
| Ohio National Variable Account A | 08/01/1969 | 811-1978 | Variable annuity |
| Ohio National Variable Account B | 08/0111969 | 811-1979 | Variable annuity |
| Ohio National Variable Account D | 08/01/1969 | 811-8642 | Variable annuity |

---

Classes of Contracts

Supported by Separate Accounts

Listed on Schedule 1

Effective as of the date the Agreement was executed, the following classes of Contracts are subject to the Agreement:

<u>Marketing Name</u> <u>SEC 1933 Act<br> Registration Number</u> <u>Contract Form<br> Number</u> <u>Annuity or Life</u> <br> <u>Vari-Vest II</u> <u>2-98265 (no longer being sold; consolidated into 333-16133J</u> <u>5560</u> <u>Life</u> <br> <u>Vari-Vest IV</u> <u>33-53350 (no longer being sold; consolidated into 333-16133)</u> <u>5560</u> <u>Life</u>

---

| | | | |
|:---|:---|:---|:---|
| Marketing Name | SEC 1933 Act<br> Registration Number | Contract Form<br> Number | Annuity or Life |
| Vari-Vest V | 333-16133 | 5560 | Life |
| Vari-Vest Asset Builder | 333-40724 | 5514 | Life |
| Vari-Vest Survivor | 333-40636 | 5741 | Life |
| Growth Perspective | 333-109900 |  | Life |
| Oncore Xtra | 333-86603 | 8598 | Annuity |
| Oncore Value | 333-43513 | 8522 | Annuity |
| Oncore Premier | 333-43515 | 8521 | Annuity |
| Oncore Lite | 333-52006 | 8524 | Annuity |
| Oncore Flex | 333-43511 | 8523 | Annuity |
| Top Explorer | 333-05848 | V-4826 | Annuity |
| Top Plus | 33-62284<br> 33-62282 | V-4822 | Annuity |
| Top Tradition | 2-91213 (no longer being sold; consolidated into 33-62282) | V-4820 | Annuity |
| Top Vision | No longer being sold; consolidated into 33-62282 |  | Annuity |

---

<u>Marketing Name</u> <u>SEC 1933 Act<br> Registration Number</u> <u>Contract Form<br> Number</u> <u>Annuity or Life</u> <br> <u>Top Spectrum</u> <u>No longer being sold; consolidated into 33-62282</u>   <u>Annuity</u> <br> <u>Retirement Advantage</u> <u>33-81784</u> <u>V-4827</u> <u>Annuity</u>

**<u>Schedule 2</u>**

Qualified Plan Accounts of the Company

Investing in the Trust

Effective as of the date the Agreement was executed, the following separate accounts of the Company are subject to the Agreement:

---

| | | |
|:---|:---|:---|
| Name of Account | Date Established by<br> Board of Directors of<br> the Company | Type of Product<br> Supported by Account |
| Ohio National Variable Account C | | Variable annuity |

---

Classes of Contracts

Supported by Separate Accounts

Listed on Schedule 2

Effective as of the date the Agreement was executed, the following classes of Contracts are subject to the Agreement:

---

| | | |
|:---|:---|:---|
| Marketing Name | Contract Form Number | Annuity or Life |
| Pension Advantage | | Annuity |
| Portfolio Advantage | | Annuity |
| Performance Advantage | | Annuity |
| Pension Accumulation | | Annuity |

---

**<u>Schedule 3</u>**

Private Placement Accounts of the Company

Investing in the Trust

Effective as of the date the Agreement was executed, the following separate accounts of the Company are subject to the Agreement: N/A

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;Name of Account | &nbsp;&nbsp;Date Established by<br> Board of Directors of<br> the Company | &nbsp;&nbsp;Type of Product<br> Supported by Account |

---

Classes of Contracts

Supported by Separate Accounts

Listed on Schedule 3

Effective as of the date the Agreement was executed, the following classes of Contracts are subject to the Agreement:

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;Marketing Name | &nbsp;&nbsp;Contract Form Number | &nbsp;&nbsp;Annuity or Life |

---

**<u>Schedule 4</u>**

Trust Share Series and Classes

Available Under

Each Class of Contracts

Effective as of the date the Agreement was executed, the following Trust Classes and Series are available under the Contracts:

---

| | |
|:---|:---|
| &nbsp;&nbsp;Contract Marketing Name | &nbsp;&nbsp;Fund/Series -- Share Classes |

---

## Exhibit 99.30

<u>FUND PARTICIPATION AGREEMENT</u>

This Agreement is entered into as of the 1st day of May, 2003 between The Ohio National Life Insurance Company, a life insurance company organized under the laws of the State of Ohio ("Insurance Company"), and Dreyfus Variable Investment Fund (the "Fund").

ARTICLE I

DEFINITIONS

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.1 "Act" shall mean the Investment Company Act of 1940, as amended.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.2 "Board" shall mean the Board of Directors or Trustees, as the case may be, of a Fund, which has the responsibility for management
and control of the Fund.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.3 "Business Day" shall mean any day for which a Fund calculates net asset value per Share (as defined below) as described
in the Fund's Prospectus.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.4 "Commission" shall mean the Securities and Exchange Commission.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.5 "Contract" shall mean a variable annuity or variable life insurance contract that uses any Participating Fund (as defined
below) as an underlying investment medium. Individuals who participate under a group Contract are "Participants."

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.6 "Contractholder" shall mean any entity that is a party to a Contract with a Participating Company (as defined below).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.7 "Disinterested Board Members" shall mean those members
of the Board of a Fund that are not deemed to be "interested persons" of the Fund, as defined by the Act.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.8 "Dreyfus" shall mean The Dreyfus Corporation and its affiliates, including Dreyfus Service Corporation.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.9 "Insurance Company's General Account(s)" shall mean the general account(s) of Insurance Company
and its affiliates that invest in Shares (as defined below) of a Participating Fund.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.10 "Participating Companies" shall mean any insurance company (including Insurance Company) that offers variable annuity and/or
variable life insurance contracts to the public and that has entered into an agreement with one or more of the Funds.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.11 "Participating Fund" shall mean each Fund, including, as applicable, any series thereof, specified in Exhibit A, as such
Exhibit may be amended from time to time by agreement of the parties hereto, the Shares (as defined below) of which are available to serve
as the underlying investment medium for the aforesaid Contracts.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.12 "Prospectus" shall mean the current prospectus and statement of additional information of a Fund, relating to its Shares
(as defined below), as most recently filed with the Commission.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.13 "Separate Account" shall mean Ohio National Variable Accounts A, B, C, and D, each a separate
account established by Insurance Company in accordance with the laws of the State of Ohio.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.14 "Shares" shall mean (i) each class of shares of a Participating Fund set forth on Exhibit A next to the name of such Participating
Fund, as such Exhibit may be revised from time to time, or (ii) if no class of shares is set forth on Exhibit A next to the name of such
Participating Fund, the shares of the Participating Fund.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.15 "Software Program" shall mean the software program used by a Fund for providing Fund and account balance information including
net asset value per Share. Such Program may include the Lion System. In situations where the Lion System or any other Software Program
used by a Fund is not available, such information may be provided by telephone. The Lion System shall be provided to Insurance Company
at no charge.

ARTICLE II

REPRESENTATIONS

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.1 Insurance Company represents and warrants that (a) it is an insurance company duly organized and in good standing under applicable
law; (b) it has legally and validly established the Separate Account pursuant to the insurance laws of the State of Ohio and the regulations
thereunder for the purpose of offering to the public certain individual and group variable annuity and variable life insurance contracts;
(c) it has registered the Separate Account as a unit investment trust under the Act to serve as the segregated investment account for
the Contracts; and (d) the Separate Account is eligible to invest in Shares of each Participating Fund without such investment disqualifying
any Participating Fund as an investment medium for insurance company separate accounts supporting variable annuity contracts or variable
life insurance contracts.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.2 Insurance Company represents and warrants that (a) the Contracts will be described in a registration statement filed under the Securities
Act of 1933, as amended ("1933 Act"); (b) the Contracts will be issued and sold in compliance in all material respects with
all applicable federal and state laws; and (c) the sale of the Contracts shall comply in all material respects with state insurance law
requirements. Insurance Company agrees to notify each Participating Fund promptly of any investment restrictions imposed by state insurance
law and applicable to the Participating Fund.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.3 Insurance Company represents and warrants that the income, gains and losses, whether or not realized, from assets allocated to the
Separate Account are, in accordance with the applicable Contracts, to be credited to or charged against such Separate Account without
regard to other income, gains or losses from assets allocated to any other accounts of Insurance Company. Insurance Company represents
and warrants that the assets of the Separate Account are and will be kept separate from Insurance Company's General Account and any other
separate accounts Insurance Company may have, and will not be charged with liabilities from any business that Insurance Company may conduct
or the liabilities of any companies affiliated with Insurance Company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.4 Each Participating Fund represents that it is registered with the Commission under the Act as an open-end, management investment company
and possesses, and shall maintain, all legal and regulatory licenses, approvals, consents and/or exemptions required for the Participating
Fund to operate and offer its Shares as an underlying investment medium for Participating Companies.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.5 Each Participating Fund represents that it is currently qualified as a regulated investment company under Subchapter M of the Internal
Revenue Code of 1986, as amended (the "Code"), and that it will make every effort to maintain such qualification (under Subchapter
M or any successor or similar provision) and that it will notify Insurance Company immediately upon having a reasonable basis for believing
that it has ceased to so qualify or that it might not so qualify in the future.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.6 Insurance Company represents and agrees that the Contracts are currently, and at the time of issuance will be, treated as life insurance
policies or annuity contracts, whichever is appropriate, under applicable provisions of the Code, and that it will make every effort to
maintain such treatment and that it will notify each Participating Fund and Dreyfus immediately upon having a reasonable basis for believing
that the Contracts have ceased to be so treated or that they might not be so treated in the future. Insurance Company agrees that any
prospectus offering a Contract that is a "modified endowment contract," as that term is defined in Section 7702A of the Code,
will identify such Contract as a modified endowment contract (or policy).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.7 Each Participating Fund agrees that its assets shall be managed and invested in a manner that complies with the requirements of Section
817(h) of the Code.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.8 Insurance Company agrees that each Participating Fund shall be permitted (subject to the other terms of this Agreement) to make its
shares available to other Participating Companies and Contractholders.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.9 Each Participating Fund represents and warrants that any of its directors, trustees, officers, employees, investment advisers, and
other individuals/entities who deal with the money and/or securities of the Participating Fund are and shall continue to be at all times
covered by a blanket fidelity bond or similar coverage for the benefit of the Participating Fund in an amount not less than that required
by Rule 17g-l under the Act. The aforesaid Bond shall include coverage for larceny and embezzlement and shall be issued by a reputable
bonding company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.10 Insurance Company represents and warrants that all of its employees and agents who deal with the money and/or securities of each Participating
Fund are and shall continue to be at all times covered by a blanket fidelity bond or similar coverage in an amount not less than the coverage
required to be maintained by the Participating Fund. The aforesaid Bond shall include coverage for larceny and embezzlement and shall
be issued by a reputable bonding company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.11 Insurance Company agrees that Dreyfus shall be deemed a third party beneficiary under this Agreement and may enforce any and all rights
conferred by virtue of this Agreement.

ARTICLE III

FUND SHARES

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.1 The Contracts funded through the Separate Account will provide for the investment of certain amounts in Shares of each Participating
Fund.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.2 Each Participating Fund agrees to make its Shares available for purchase at the then applicable net asset value per Share by Insurance
Company and the Separate Account on each Business Day pursuant to rules of the Commission. Notwithstanding the foregoing, each Participating
Fund may refuse to sell its Shares to any person, or suspend or terminate the offering of its Shares, if such action is required by law
or by regulatory authorities having jurisdiction or is, in the sole discretion of its Board, acting in good faith and in light of its
fiduciary duties under federal and any applicable state laws, necessary and in the best interests of the Participating Fund's shareholders.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.3 Each Participating Fund agrees that shares of the Participating Fund will be sold only to (a) Participating Companies and their separate
accounts or (b) "qualified pension or retirement plans" as determined under Section 817(h)(4} of the Code. Except as otherwise
set forth in this Section 3.3, no shares of any Participating Fund will be sold to the general public.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.4 Each Participating Fund shall use its best efforts to provide closing net asset value, dividend and capital gain information on a
per Share basis to Insurance Company by 6:00 p.m. Eastern time on each Business Day. Any material errors in the calculation of net asset
value, dividend and capital gain information shal1 be reported immediately upon discovery to Insurance Company. Non-material errors will
be corrected in the next Business Day's net asset value per Share.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.5 At the end of each Business Day, Insurance Company will use the information described in Sections 3.2 and 3.4 to calculate the
 unit values of the Separate Account for the day. Using this unit value, Insurance Company will process the day's Separate Account
 transactions received by it by the close of trading on the floor of the New York Stock Exchange (currently 4:00 p.m. Eastern time)
 to determine the net dollar amount of the Shares of each Participating Fund that will be purchased or redeemed at that day's closing
 net asset value per Share. The net purchase or redemption orders will be transmitted to each Participating Fund by Insurance Company
 by 11:00 a.m. Eastern time on the Business Day next following Insurance Company's receipt of that information. Subject to Sections
 3.6 and 3.8, all purchase and redemption orders for Insurance Company's General Accounts shall be effected at the net asset value
 per Share of each Participating Fund next calculated after receipt of the order by the Participating Fund or its Transfer
 Agent.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.6 Each Participating Fund appoints Insurance Company as its agent for the limited purpose of accepting orders for the purchase and redemption
of Shares of the Participating Fund for the Separate Account. Each Participating Fund will execute orders at the applicable net asset
value per Share determined as of the close of trading on the day of receipt of such orders by Insurance Company acting as agent ("effective
trade date"), provided that the Participating Fund receives notice of such orders by 11:00 a.m. Eastern time on the next following
Business Day and, if such orders request the purchase of Shares of the Participating Fund, the conditions specified in Section 3.8, as
applicable, are satisfied. A redemption or purchase request that does not satisfy the conditions specified above and in Section 3.8, as
applicable, will be effected at the net asset value per Share computed on the Business Day immediately preceding the next following Business
Day upon which such conditions have been satisfied in accordance with the requirements of this Section and Section 3.8. Insurance Company
represents and warrants that all orders submitted by the Insurance Company for execution on the effective trade date shall represent purchase
or redemption orders received from Contractholders prior to the close of trading on the New York Stock Exchange on the effective trade
date.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.7 Insurance Company will make its best efforts to notify each applicable Participating Fund in advance of any unusually large purchase
or redemption orders.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.8 If Insurance Company's order requests the purchase of Shares of a
 Participating Fund, Insurance Company will pay for such purchases by wiring Federal Funds
 to the Participating Fund or its designated custodial account on the day the order is transmitted.
 Insurance Company shall make all reasonable efforts to transmit to the applicable Participating
 Fund payment in Federal Funds by 12:00 noon Eastern time on the Business Day the Participating
 Fund receives the notice of the order pursuant to Section 3.5. Each applicable Participating
 Fund will execute such orders at the applicable net asset value per Share determined as of
 the close of trading on the effective trade date if the Participating Fund receives payment
 in Federal Funds by 12:00 midnight Eastern time on the Business Day the Participating Fund
 receives the notice of the order pursuant to Section 3.5. If payment in Federal Funds for
 any purchase is not received or is received by a Participating Fund after 12:00 noon Eastern
 time on such Business Day, Insurance Company shall promptly, upon each applicable Participating
 Fund's request, reimburse the respective Participating Fund for any charges, costs,
 fees, interest or other expenses incurred by the Participating Fund in connection with any
 advances to, or borrowings or overdrafts by, the Participating Fund, or any similar expenses
 incurred by the Participating Fund, as a result of portfolio transactions effected by the
 Participating Fund based upon such purchase request. If Insurance Company's order requests
 the redemption of any Shares of a Participating Fund valued at or greater than $1 million
 dollars, the Participating Fund will wire such amount to Insurance Company within seven days
 of the order.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.9 Each Participating Fund has the obligation to ensure that its Shares are registered with applicable federal agencies at all times.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.10 Each Participating Fund will confirm each purchase or redemption order made by Insurance Company. Transfers of Shares of a Participating
Fund will be by book entry only. No share certificates will be issued to Insurance Company. Insurance Company will record Shares ordered
from a Participating Fund in an appropriate title for the corresponding account.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.11 Each Participating Fund shall credit Insurance Company with the appropriate number of Shares.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.12 On each ex-dividend date of a Participating Fund or, if not a Business Day, on the first Business Day thereafter, each Participating
Fund shall communicate to Insurance Company the amount of dividend and capital gain, if any, per Share. All dividends and capital gains
shall be automatically reinvested in additional Shares of the applicable Participating Fund at the net asset value per Share on the ex-dividend
date. Each Participating Fund shall, on the day after the ex-dividend date or, if not a Business Day, on the first Business Day thereafter,
notify Insurance Company of the number of Shares so issued.

ARTICLE IV

STATEMENTS AND REPORTS

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.1 Each Participating Fund shall provide monthly statements of account as of the end of each month for all of Insurance Company's accounts
by the fifteenth (15th) Business Day of the following month.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.2 Each Participating Fund shall distribute to Insurance Company copies of the Participating Fund's Prospectuses, proxy materials, notices,
periodic reports and other printed materials (which the Participating Fund customarily provides to the holders of its Shares) in quantities
as Insurance Company may reasonably request for distribution to each Contractholder and Participant. Insurance Company may elect to print
the Participating Fund's prospectus and/or its statement of additional information in combination with other fund companies' prospectuses
and statements of additional information, which are also offered in Insurance Company's insurance product at its own cost. At Insurance
Company's request, the Participating Fund will provide, in lieu of printed documents, camera-ready copy or diskette of prospectuses, annual
and semi-annual reports for printing by the Insurance Company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.3 Each Participating Fund will provide to Insurance Company at least one complete copy of all registration statements, Prospectuses,
reports, proxy statements, sales literature and other promotional materials, applications for exemptions, requests for no-action letters,
and all amendments to any of the above, that relate to the Participating Fund or its Shares (except for such materials that are designed
only for a class of shares of a Participating Fund not offered to the Insurance Company pursuant to this Agreement), contemporaneously
with the filing of such document with the Commission or other regulatory authorities.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.4 Insurance Company will provide to each Participating Fund at least one copy of all registration statements, Prospectuses, reports,
proxy statements, sales literature and other promotional materials, applications for exemptions, requests for no-action letters, and all
amendments to any of the above, that relate to the Contracts or the Separate Account, contemporaneously with the filing of such document
with the Commission.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.5 Insurance Company will provide Participating Funds on a semi-annual basis, or more frequently as reasonably requested by the Participating
Funds, with a current tabulation of the number of existing Variable Contract owners of Insurance Company whose Variable Contract values
are invested in the Participating Funds. This tabulation will be sent to Participating Funds in the form of a letter signed by a duly
authorized officer of the Insurance Company attesting to the accuracy of the information contained in the letter.

ARTICLE V

EXPENSES

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.1 The charge to each Participating Fund for all expenses and costs of the Participating Fund, including but not limited to management
fees, Rule 12b-1 fees, if any, administrative expenses and legal and regulatory costs, will be included in the determination of the Participating
Fund's daily net asset value per Share.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.2 Except as provided in Article IV and V, in particular in the next sentence, Insurance Company shall not be required to pay directly
any expenses of any Participating Fund or expenses relating to the distribution of its Shares. Insurance Company shall pay the following
expenses or costs:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a. Such amount of the production expenses of any Participating Fund materials, including the cost of printing a Participating Fund's Prospectus, or marketing materials for prospective Insurance Company Contractholders and Participants as Dreyfus and Insurance Company shall agree from time to time.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b. Distribution expenses of any Participating Fund materials or marketing materials for prospective Insurance Company Contractholders and Participants.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;c. Distribution expenses of any Participating Fund materials or marketing materials for Insurance Company Contractholders and Participants.

A Participating Fund's principal underwriter may pay Insurance Company, or the broker-dealer acting as principal underwriter for the Insurance Company's Contracts, for distribution and other services related to the Shares of the Participating Fund pursuant to any distribution plan adopted by the Participating Fund in accordance with Rule l2b-1 under the Act, subject to the terms and conditions of an agreement between the Participating Fund's principal underwriter and Insurance Company or the principal underwriter for the Insurance Company's Contracts, as applicable, related to such plan.

Except as provided herein, all other expenses of each Participating Fund shall not be borne by Insurance Company.

ARTICLE VI

EXEMPTIVE RELIEF

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.1 Insurance Company has reviewed a copy of the order dated February *5,* 1998 of the Commission under Section 6(c) of the Act with
respect to Dreyfus Investment Portfolios, and, in particular, has reviewed the conditions to the relief set forth in the Notice. As set
forth therein, if Dreyfus Investment Portfolios is a Participating Fund, Insurance Company agrees, as applicable, to report any potential
or existing conflicts promptly to the Board of Dreyfus Investment Portfolios, and, in particular, whenever contract voting instructions
are disregarded, and recognizes that it will be responsible for assisting the Board in carrying out its responsibilities under such application.
Insurance Company agrees to carry out such responsibilities with a view to the interests of existing Contractholders.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.2 If a majority of the Board, or a majority of Disinterested Board Members, determines that a material irreconcilable conflict exists
with regard to Contractholder investments in a Participating Fund, the Board shall give prompt notice to all Participating Companies and
any other Participating Fund. If the Board determines that Insurance Company is responsible for causing or creating said conflict, Insurance
Company shall at its sole cost and expense, and to the extent reasonably practicable (as determined by a majority of the Disinterested
Board Members), take such action as is necessary to remedy or eliminate the irreconcilable material conflict. Such necessary action may
include, but shall not be limited to:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a. Withdrawing the assets allocable to the Separate Account from the Participating Fund and reinvesting such assets in another Participating Fund (if applicable) or a different investment medium, or submitting the question of whether such segregation should be implemented to a vote of all affected Contractholders; and/or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b. Establishing a new registered management investment company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.3 If a material irreconcilable conflict arises as a result of a decision by Insurance Company to disregard Contractholder voting instructions
and said decision represents a minority position or would preclude a majority vote by all Contractholders having an interest in a Participating
Fund, Insurance Company may be required, at the Board's election, to withdraw the investments of the Separate Account in that Participating
Fund.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.4 For the purpose of this Article, a majority of the Disinterested Board Members shall determine whether or not any proposed action
adequately remedies any irreconcilable material conflict, but in no event will any Participating Fund be required to bear the expense
of establishing a new funding medium for any Contract. Insurance Company shall not be required by this Article to establish a new funding
medium for any Contract if an offer to do so has been declined by vote of a majority of the Contractholders materially adversely affected
by the irreconcilable material conflict.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.5 No action by Insurance Company taken or omitted, and no action by the Separate Account or any Participating Fund taken or omitted
as a result of any act or failure to act by Insurance Company pursuant to this Article VI, shall relieve Insurance Company of its obligations
under, or otherwise affect the operation of, Article V.

ARTICLE VII

VOTING SHARES OF PARTICIPATING FUND

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.1 Each Participating Fund shall provide Insurance Company with copies, at no cost to Insurance Company, of the Participating Fund's
proxy materials, reports to shareholders and other communications to shareholders (except for such materials that are designed only for
a class of shares of a Participating Fund not offered to the Insurance Company pursuant to this Agreement) in such quantity as Insurance
Company shall reasonably require for distributing to Contractholders or Participants.

Insurance Company shall:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) solicit voting instructions from Contractholders or Participants on a timely basis and in accordance with applicable law;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) vote the Shares of the Participating Fund in accordance with instructions received from Contractholders or Participants; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) vote the Shares of the Participating Fund for which no instructions have been received in the same proportion as Shares of the Participating Fund for which instructions have been received.

Insurance Company agrees at all times to vote Shares held by Insurance Company's General Account in the same proportion as Shares of the Participating Fund for which instructions have been received from Contractholders or Participants. Insurance Company further agrees to be responsible for assuring that voting the Shares of the Participating Fund for the Separate Account is conducted in a manner consistent with other Participating Companies.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.2 Insurance Company agrees that it shall not, without the prior written consent of each applicable Participating Fund and Dreyfus, solicit,
induce or encourage Contractholders to (a) change or supplement the Participating Fund's current investment adviser or (b) change, modify,
substitute, add to or delete from the current investment media for the Contracts.

ARTICLE VIII

MARKETING AND REPRESENTATIONS

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.1 Each Participating Fund or its principal underwriter shall periodically furnish Insurance Company with the following documents relating
to the Shares of the Participating Fund, in quantities as Insurance Company may reasonably request:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a. Current Prospectus and any supplements thereto; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b. Other marketing materials.

Expenses for the production of such documents shall be borne by Insurance Company in accordance with Section 5.2 of this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.2 Insurance Company shall designate certain persons or entities that shall have the requisite licenses to solicit applications for the
sale of Contracts. No representation is made as to the number or amount of Contracts that are to be sold by Insurance Company. Insurance
Company shall make reasonable efforts to market the Contracts and shall comply with all applicable federal and state laws in connection
therewith.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.3 Insurance Company shall furnish, or shall cause to be furnished, to each applicable Participating Fund or its designee, each piece
of sales literature or other promotional material in which the Participating Fund, its investment adviser or the administrator is named,
at least fifteen Business Days prior to its use. No such material shall be used unless the Participating Fund or its designee approves
such material. Such approval (if given) must be in writing and shall be presumed not given if not received within ten Business Days after
receipt of such material. Each applicable Participating Fund or its designee, as the case may be, shall use all reasonable efforts to
respond within ten days of receipt.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.4 Insurance Company shall not give any information or make any representations or statements on behalf of a Participating Fund or concerning
a Participating Fund in connection with the sale of the Contracts other than the information or representations contained in the registration
statement or Prospectus of, as may be amended or supplemented from time to time, or in reports or proxy statements for, the applicable
Participating Fund, or in sales literature or other promotional material approved by the applicable Participating Fund.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.5 Each Participating Fund shall furnish, or shall cause to be furnished, to Insurance Company, each piece of the Participating Fund's
sales literature or other promotional material in which Insurance Company or the Separate Account is named, at least fifteen Business
Days prior to its use. No such material shall be used unless Insurance Company approves such material. Such approval (if given) must be
in writing and shall be presumed not given if not received within ten Business Days after receipt of such material. Insurance Company
shall use all reasonable efforts to respond within ten days of receipt.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.6 Each Participating Fund shall not, in connection with the sale of Shares of the Participating Fund, give any information or make any
representations on behalf of Insurance Company or concerning Insurance Company, the Separate Account, or the Contracts other than the
information or representations contained in a registration statement or prospectus for the Contracts, as may be amended or supplemented
from time to time, or in published reports for the Separate Account that are in the public domain or approved by Insurance Company for
distribution to Contractholders or Participants, or in sales literature or other promotional material approved by Insurance Company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.7 For purposes of this Agreement, the phrase "sales literature
or other promotional material" or words of similar import include, without limitation, advertisements (such as material published,
or designed for use, in a newspaper, magazine or other periodical, radio, television, telephone or tape recording, videotape display,
signs or billboards, motion pictures or other public media), sales literature (such as any written communication distributed or made
generally available to customers or the public, including brochures, circulars, research reports, market letters, form letters, seminar
texts, or reprints or excerpts of any other advertisement, sales literature, or published article), educational or training materials
or other communications distributed or made generally available to some or all agents or employees, registration statements, prospectuses,
statements of additional information, shareholder reports and proxy materials, and any other material constituting sales literature or
advertising under National Association of Securities Dealers, Inc. rules, the Act or the 1933 Act.

ARTICLE IX

INDEMNIFICATION

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.1 Insurance Company agrees to indemnify and hold harmless each Participating Fund, Dreyfus, each respective Participating Fund's investment
adviser and sub-investment adviser (if applicable), each respective Participating Fund's distributor, and their respective affiliates,
and each of their directors, trustees, officers, employees, agents and each person, if any, who controls or is associated with any of
the foregoing entities or persons within the meaning of the 1933 Act (collectively, the "Indemnified Parties" for purposes of
Section 9.1), against any and all losses, claims, damages or liabilities joint or several (including any investigative, legal and other
expenses reasonably incurred in connection with, and any amounts paid in settlement of, any action, suit or proceeding or any claim asserted)
for which the Indemnified Parties may become subject, under the 1933 Act or otherwise, insofar as such losses, claims, damages or liabilities
(or actions in respect thereof) (i) arise out of or are based upon any untrue statement or alleged untrue statement of any material fact
contained in information furnished by Insurance Company for use in the registration statement or Prospectus or sales literature or advertisements
of the respective Participating Fund or with respect to the Separate Account or Contracts, or arise out of or are based upon the omission
or the alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not
misleading; (ii) arise out of or as a result of conduct, statements or representations (other than statements or representations contained
in the Prospectus and sales literature or advertisements of the respective Participating Fund) of Insurance Company or its agents, with
respect to the sale and distribution of Contracts for which the Shares of the respective Participating Fund are an underlying investment;
(iii) arise out of the wrongful conduct of Insurance Company or persons under its control with respect to the sale or distribution of
the Contracts or the Shares of the respective Participating Fund; (iv) arise out of Insurance Company's incorrect calculation and/or untimely
reporting of net purchase or redemption orders; or (v) arise out of any breach by Insurance Company of a material term of this Agreement
or as a result of any failure by Insurance Company to provide the services and furnish the materials or to make any payments provided
for in this Agreement. Insurance Company will reimburse any Indemnified Party in connection with investigating or defending any such loss,
claim, damage, liability or action; provided, however, that with respect to clauses (i) and (ii) above Insurance Company will not be liable
in any such case to the extent that any such loss, claim, damage or liability arises out of or is based upon any untrue statement or omission
or alleged omission made in such registration statement, prospectus, sales literature, or advertisement in conformity with written information
furnished to Insurance Company by the respective Participating Fund specifically for use therein. This indemnity agreement will be in
addition to any liability which Insurance Company may otherwise have.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.2 Each Participating Fund and The Dreyfus Corporation severally agree to indemnify and hold harmless Insurance Company and each of its
directors, officers, employees, agents and each person, if any, who controls Insurance Company within the meaning of the 1933 Act against
any losses, claims, damages or liabilities to which Insurance Company or any such director, officer, employee, agent or controlling person
may become subject, under the 1933 Act or otherwise, insofar as such losses, claims, damages or liabilities (or actions in respect thereof)
(i) arise out of or are based upon any untrue statement or alleged untrue statement of any material fact contained in the registration
statement or Prospectus or sales literature or advertisements of the respective Participating Fund; (ii) arise out of or are based upon
the omission to state in the registration statement or Prospectus or sales literature or advertisements of the respective Participating
Fund any material fact required to be stated therein or necessary to make the statements therein not misleading; or (iii) arise out of
or are based upon any untrue statement or alleged untrue statement of any material fact contained in the registration statement or Prospectus
or sales literature or advertisements with respect to the Separate Account or the Contracts and such statements were based on information
provided to Insurance Company by the respective Participating Fund; and the respective Participating Fund will reimburse any legal or
other expenses reasonably incurred by Insurance Company or any such director, officer, employee, agent or controlling person in connection
with investigating or defending any such loss, claim, damage, liability or action; provided, however, that the respective Participating
Fund will not be liable in any such case to the extent that any such loss, claim, damage or liability arises out of or is based upon an
untrue statement or omission or alleged omission made in such registration statement, Prospectus, sales literature or advertisements in
conformity with written information furnished to the respective Participating Fund by Insurance Company specifically for use therein.
This indemnity agreement will be in addition to any liability which the respective Participating Fund may otherwise have.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.3 Each Participating Fund severally shall indemnify and hold Insurance Company harmless against any and all liability, loss, damages,
costs or expenses which Insurance Company may incur, suffer or be required to pay due to the respective Participating Fund's (i) incorrect
calculation of the daily net asset value, dividend rate or capital gain distribution rate; (ii) incorrect reporting of the daily net asset
value, dividend rate or capital gain distribution rate; and (iii) untimely reporting of the net asset value, dividend rate or capital
gain distribution rate; provided that the respective Participating Fund shall have no obligation to indemnify and hold harmless Insurance
Company if the incorrect calculation or incorrect or untimely reporting was the result of incorrect information furnished by Insurance
Company or information furnished untimely by Insurance Company or otherwise as a result of or relating to a breach of this Agreement by
Insurance Company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.4 Promptly after receipt by an indemnified party under this Article of notice of the commencement of any action, such indemnified party
will, if a claim in respect thereof is to be made against the indemnifying party under this Article, notify the indemnifying party of
the commencement thereof. The omission to so notify the indemnifying party will not relieve the indemnifying party from any liability
under this Article IX, except to the extent that the omission results in a failure of actual notice to the indemnifying party and such
indemnifying party is damaged solely as a result of the failure to give such notice. In case any such action is brought against any indemnified
party, and it notified the indemnifying party of the commencement thereof, the indemnifying party will be entitled to participate therein
and, to the extent that it may wish, assume the defense thereof, with counsel satisfactory to such indemnified party, and to the extent
that the indemnifying party has given notice to such effect to the indemnified party and is performing its obligations under this Article,
the indemnifying party shall not be liable for any legal or other expenses subsequently incurred by such indemnified party in connection
with the defense thereof, other than reasonable costs of investigation. Notwithstanding the foregoing, in any such proceeding, any indemnified
party shall have the right to retain its own counsel, but the fees and expenses of such counsel shall be at the expense of such indemnified
party unless (i) the indemnifying party and the indemnified party shall have mutually agreed to the retention of such counsel or (ii)
the named parties to any such proceeding (including any impleaded parties) include both the indemnifying party and the indemnified party
and representation of both parties by the same counsel would be inappropriate due to actual or potential differing interests between them.
The indemnifying party shall not be liable for any settlement of any proceeding effected without its written consent.

A successor by law of the parties to this Agreement shall be entitled to the benefits of the indemnification contained in this Article IX. The provisions of this Article IX shall survive termination of this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.5 Insurance Company shall indemnify and hold each respective Participating Fund, Dreyfus and sub-investment adviser of the Participating
Fund harmless against any tax liability incurred by the Participating Fund under Section 851 of the Code arising from purchases or redemptions
by Insurance Company's General Account(s) or the account of its affiliates.

ARTICLE X

COMMENCEMENT AND TERMINATION

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10.1 This Agreement shall be effective as of the date hereof and shall continue in force until terminated in accordance with the provisions
herein.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10.2 This Agreement shall terminate without penalty:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a. As to any Participating Fund, at the option of Insurance Company or the Participating Fund at any time from the date hereof upon 180
days' notice, unless a shorter time is agreed to by the respective Participating Fund and Insurance Company;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b. As to any Participating Fund, at the option of Insurance Company, if Shares of that Participating Fund are not reasonably available
to meet the requirements of the Contracts as determined by Insurance Company. Prompt notice of election to terminate shall be furnished
by Insurance Company, said termination to be effective ten days after receipt of notice unless the Participating Fund makes available
a sufficient number of Shares to meet the requirements of the Contracts within said ten-day period;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;c. As to a Participating Fund, at the option of Insurance Company, upon the institution of formal proceedings against that Participating
Fund by the Commission, National Association of Securities Dealers or any other regulatory body, the expected or anticipated ruling, judgment
or outcome of which would, in Insurance Company's reasonable judgment, materially impair that Participating Fund's ability to meet and
perform the Participating Fund's obligations and duties hereunder. Prompt notice of election to terminate shall be furnished by Insurance
Company with said termination to be effective upon receipt of notice;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;d. As to a Participating Fund, at the option of each Participating Fund, upon the institution of formal proceedings against Insurance
Company by the Commission, National Association of Securities Dealers or any other regulatory body, the expected or anticipated ruling,
judgment or outcome of which would, in the Participating Fund's reasonable judgment, materially impair Insurance Company's ability to
meet and perform Insurance Company's obligations and duties hereunder. Prompt notice of election to terminate shall be furnished by such
Participating Fund with said termination to be effective upon receipt of notice;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;e. As to a Participating Fund, at the option of that Participating Fund, if the Participating Fund shall determine, in its sole judgment
reasonably exercised in good faith, that Insurance Company has suffered a material adverse change in its business or financial condition
or is the subject of material adverse publicity and such material adverse change or material adverse publicity is likely to have a material
adverse impact upon the business and operation of that Participating Fund or Dreyfus, such Participating Fund shall notify Insurance Company
in writing of such determination and its intent to terminate this Agreement, and after considering the actions taken by Insurance Company
and any other changes in circumstances since the giving of such notice, such determination of the Participating Fund shall continue to
apply on the sixtieth (60th) day following the giving of such notice, which sixtieth day shall be the effective date of termination;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;f. As to a Participating Fund, at the option of Insurance Company, if Insurance Company shall determine, in its sole judgment reasonably
exercised in good faith that the Participating Fund has suffered a material adverse change in its business or financial condition or is
the subject of material adverse publicity and such material adverse change or material adverse publicity is likely to have a material
adverse impact upon the business and operations of Insurance Company or its Separate Account, the Insurance Company shall notify the Participating
Fund in writing of such determination and its intent to terminate this Agreement, and after considering the actions taken by the Participating
Fund and any other changes in circumstances since the giving of such notice, such determination of Insurance Company shall continue to
apply to the sixtieth (60th) day following the giving of such notice, which sixtieth day shall be the effective date of termination;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;g. As to a Participating Fund, upon termination of the Investment Advisory Agreement between that Participating
Fund and Dreyfus or its successors unless Insurance Company specifically approves the selection of a new Participating Fund investment
adviser. Such Participating Fund shall promptly furnish notice of such termination to Insurance Company;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;h. As to a Participating Fund, in the event that Shares of the Participating Fund are not registered, issued or sold in accordance with
applicable federal law, or such law precludes the use of such Shares as the underlying investment medium of Contracts issued or to be
issued by Insurance Company. Termination shall be effective immediately as to that Participating Fund only upon such occurrence without
notice;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;i. At the option of a Participating Fund upon a determination by its Board in good faith that it is no longer advisable and in the best
interests of shareholders of that Participating Fund to continue to operate pursuant to this Agreement. Termination pursuant to this Subsection
(i) shall be effective upon notice by such Participating Fund to Insurance Company of such termination;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;j. At the option of a Participating Fund if the Contracts cease to qualify as annuity contracts or life insurance policies, as applicable,
under the Code, or if such Participating Fund reasonably believes that the Contracts may fail to so qualify;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;k. At the option of arty party to this Agreement, upon another party's breach of arty material provision of this Agreement;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;l. At the option of a Participating Fund, if the Contracts are not registered, issued or sold in accordance
with applicable federal and/or state law; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;m. Upon assignment of this Agreement, unless made with the written consent of every other non-assigning party.

Any such termination pursuant to Section 10.2a, 10.2d, 10.2e, 10.2f or 10.2k herein shall not affect the operation of Article V of this Agreement. Any termination of this Agreement shall not affect the operation of Article IX of this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10.3 Notwithstanding any termination of this Agreement pursuant to Section 10.2 hereof, each Participating Fund and Dreyfus may, at the
option of the Participating Fund, continue to make available additional Shares of that Participating Fund for as long as the Participating
Fund desires pursuant to the terms and conditions of this Agreement as provided below, for all Contracts in effect on the effective date
of termination of this Agreement (hereinafter referred to as "Existing Contracts"). Specifically, without limitation, if that
Participating Fund and Dreyfus so elect to make additional Shares of the Participating Fund available, the owners of the Existing Contracts
or Insurance Company, whichever shall have legal authority to do so, shall be permitted to reallocate investments in that Participating
Fund, redeem investments in that Participating Fund and/or invest in that Participating Fund upon the making of additional purchase payments
under the Existing Contracts. In the event of a termination of this Agreement pursuant to Section 10.2 hereof, such Participating Fund
and Dreyfus, as promptly as is practicable under the circumstances, shall notify Insurance Company whether Dreyfus and that Participating
Fund will continue to make Shares of that Participating Fund available after such termination. If such Shares of the Participating Fund
continue to be made available after such termination, the provisions of this Agreement shall remain in effect and thereafter either of
that Participating Fund or Insurance Company may terminate the Agreement as to that Participating Fund, as so continued pursuant to this
Section 10.3, upon prior written notice to the other party, such notice to be for a period that is reasonable under the circumstances
but, if given by the Participating Fund, need not be for more than six months.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10.4 Termination of this Agreement as to any one Participating Fund shall not be deemed a termination as to any other Participating Fund
unless Insurance Company or such other Participating Fund, as the case may be, terminates this Agreement as to such other Participating
Fund in accordance with this Article X.

ARTICLE XI

AMENDMENTS

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11.1 Any other changes in the terms of this Agreement, except for the addition or deletion of any Participating Fund or class of Shares
of a Participating Fund as specified in Exhibit A, shall be made by agreement in writing between Insurance Company and each respective
Participating Fund.

ARTICLE XII

NOTICE

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12.1 Each notice required by this Agreement shall be given by certified mail, return receipt requested, to the appropriate parties at the
following addresses:

---

| | |
|:---|:---|
| Insurance Company: | The Ohio National Life Insurance Company |
|  | One Financial Way |
|  | Montgomery, Ohio 45242 |
|  | Attention: John J. Palmer |
| Participating Funds: | Dreyfus Variable Investment Fund Appreciation Portfolio |
|  | c/o The Dreyfus Corporation |
|  | 200 Park Avenue |
|  | New York, New York 10166 |
|  | Attn: General Counsel |

---

---

| | |
|:---|:---|
| with copies to: | Stroock & Stroock & Lavan LLP |
|  | 180 Maiden Lane |
|  | New York, New York l 0038-4982 |
|  | Attn: Lewis G. Cole, Esq. |
|  | Stuart H. Coleman, Esq. |

---

Notice shall be deemed to be given on the date of receipt by the addresses as evidenced by the return receipt.

ARTICLE XIII

MISCELLANEOUS

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13.1 This Agreement has been executed on behalf of each Fund by the undersigned officer of the Fund in his capacity as an officer of the
Fund. The obligations of this Agreement shall only be binding upon the assets and property of the Fund and shall not be binding upon any
director, trustee, officer or shareholder of the Fund individually. It is agreed that the obligations of the Funds are several and not
joint, that no Fund shall be liable for any amount owing by another Fund and that the Funds have executed one instrument for convenience
only.

ARTICLE XIV

LAW

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14.1 This Agreement shall be construed in accordance with the internal laws of the State of New York, without giving effect to principles
of conflict of laws.

ARTICLE XV

FOREIGN TAX CREDITS

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15.1 Each Participating Fund agrees to consult in advance with Insurance Company concerning any decision to elect or not to pass through
the benefit of any foreign tax credits to the Participating Fund's shareholders pursuant to Section 853 of the Code.

IN WITNESS WHEREOF, the parties hereto have executed this Agreement to be duly executed and attested as of the date first above written.

---

| | | | |
|:---|:---|:---|:---|
|  |  | THE OHIO NATIONAL LIFE INSURANCE COMPANY | THE OHIO NATIONAL LIFE INSURANCE COMPANY |
|  |  | By: | /s/ John J. Palmer |
|  |  |  | John J. Palmer |
|  |  | Its: | Vice Chairman |
| Attest: | ![](fp0096724-2b_01.jpg) |  |  |
|  |  | DREYFUS VARIABLE INVESTMENT FUND | DREYFUS VARIABLE INVESTMENT FUND |
|  |  | By: | ![](fp0096724-2b_02.jpg) |
|  |  | Its: | Assistant Secretary |
| Attest: | ![](fp0096724-2b_03.jpg) |  |  |

---

**EXHIBIT A**

**LIST OF PARTICIPATING FUNDS**

---

| | |
|:---|:---|
| **<u>Fund Name</u>** | **<u>Share Class</u>** |
| Dreyfus Variable Investment Fund Appreciation Portfolio | Service Class Shares |

---

<sub> </sub>

## Exhibit 99.30

**AMENDMENT TO PARTICIPATION AGREEMENT**

Regarding

**RULES 30e-3 and 498A**

The Ohio National Life Insurance Company (the "Company") and BNY Mellon Variable Investment Fund (formerly, Dreyfus Variable Investment Fund) (the "Fund"), entered into a certain participation agreement dated the 1<sup>st</sup> day of May, 2003 (the "Participation Agreement"). This Amendment (the "Amendment") to the Participation Agreement is entered into as of August 9, 2021, by and among the Company, on its own behalf and on behalf of each separate account of the Company as set forth in the Participation Agreement, as may be amended from time to time (individually and collectively the "Accounts") and the Fund (collectively, the "Parties").

**RECITALS**

WHEREAS, pursuant to the Participation Agreement among the Parties, the Company invests in shares of certain portfolios of the Fund (the "Portfolios") as a funding vehicle for the Accounts that issue variable annuity and/or life insurance contracts (the "Variable Contracts") to persons that are registered owners of such Variable Contracts on the books and records of the Company (the "Contract Owners");

WHEREAS, the name of the Fund changed from Dreyfus Variable Investment Fund to BNY Mellon Variable Investment Fund, and the Parties wish to reflect such new name in the Participation Agreement;

WHEREAS, the Accounts are registered as unit investment trusts under the Investment Company Act of 1940, as amended (the "1940 Act");

WHEREAS, the Company, on behalf of the Accounts, has certain obligations pursuant to Rule 30e-2 under the 1940 Act to deliver Portfolio shareholder reports to Contract Owners, which obligations may be satisfied by compliance with Rule 30e-3 under the 1940 Act ("Rule 30e-3");

WHEREAS, the Company intends to comply with the requirements, terms and conditions of Rule 30e-3 in order to satisfy its obligation to deliver Portfolio shareholder reports to Contract Owners, including hosting the website of certain fund materials required by Rule 30e-3; and

WHEREAS, Section 5(b)(2) of the Securities Act of 1933, as amended (the "1933 Act") may require that a Statutory Prospectus (as defined in Rule 498A under the 1933 Act; "Rule 498A") for the Portfolios be delivered to Contract Owners under certain circumstances;

WHEREAS, the Parties intend to meet any such Portfolio Statutory Prospectus delivery requirement by relying on (and complying with the requirements, terms and conditions of) paragraph (j) of Rule 498A for "on-line" delivery;

WHEREAS, paragraph (j) of Rule 498A requires, *inter alia,* that some of the Fund Documents (defined below) be posted and maintained on a website specified on the cover page of the Summary Prospectus for the Variable Contracts, and the Company intends to host said website; and

WHEREAS, the Company cannot host such websites in compliance with Rules 30e-3 and 498A unless the Fund prepares and provides to the Company the Fund Documents that are specified in Rules 30e-3 and 498A;

NOW, THEREFORE, in consideration of the mutual covenants herein contained, which consideration is full and complete, the Parties hereby agree to supplement and amend the Participation Agreement as follows:

**1.** **Name Changes.** All references in the Participation Agreement to "Dreyfus Variable Investment Fund" are deleted and
replaced with "BNY Mellon Variable Investment Fund."

**2.** **Provision of Fund Documents; Website Posting.** 

**(a). Fund Documents.** The Fund is responsible for preparing and providing the following "Fund Documents," as specified in paragraph (b)(1) of Rule 30e-3 and paragraph (j)(1)(iii) of Rule 498A:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;***(i)*** *Summary Prospectus for the Portfolios;* 

 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(ii)** *Statutory Prospectus for the Portfolios*;

 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(iii)** *Statement of Additional Information ("SAI") for the Portfolios*; and

 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(iv)** *Most Recent Annual and Semi-Annual Reports to Shareholders (under Rule 30e-1 under the 1940 Act) for the Portfolios* (together, the "Shareholder Reports") (referred to in Rule 30e-3 as the "Current" and "Prior"
Report to Shareholders).

 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(v)** *Complete Portfolio Holdings From Shareholder Reports Containing a Summary Schedule of Investments*;
and

 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(vi)** *Portfolio Holdings For Most Recent First and Third Fiscal Quarters* (together with the complete
portfolio holdings specified in (v) above, the "Portfolio Holdings").

**(b). Deadline for Providing, and Currentness of, Fund Documents.**

**(i).** The Fund shall provide the <u>Summary Prospectus, Statutory Prospectus, and SAI</u> for the Portfolios to the Company (or its designee) on a timely basis (to facilitate the required website posting) and provide updated versions as necessary, in order to facilitate a continuous offering of the Portfolio Company's securities and the Variable Contracts.

**(ii).** The Fund shall provide the <u>Shareholder Reports and Portfolio Holdings</u> on a timely basis (to facilitate the required website posting) but no later than five business days before the date each time that the Required Materials are required to be posted by Rule 30e-3.

**(c). Format of Fund Documents.** The Fund shall provide the Fund Documents to the Company (or its designee) in an electronic format that is suitable for website posting, and in a format, or formats, that:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(i)** are both human-readable and capable of being printed on paper in human- readable format (in accordance with paragraph (b)(3) of Rule 30e-3 and paragraph (h)(2)(i) of Rule 498A); and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(ii)** permit persons accessing the Statutory Prospectus and SAI to move directly back and forth between each section heading in a table of contents of such document and the section of the document referenced in that section heading (that is, these documents must include ***linking***, in accordance with paragraph (h)(2)(ii) of Rule 498A); and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(iii)** permit persons accessing the Fund Documents to permanently retain, free of charge, an electronic version of such materials that meet the requirements of subparagraphs (h)(2)(i) and (ii) of Rule 498A (in accordance with paragraph (h)(3) of Rule 498A).

**(d). Website Hosting.** The Company shall host and maintain the website specified in paragraph (j)(1)(iii) of Rule 498A, so that the Fund Documents are publicly accessible, free of charge, at that website, in accordance with the conditions set forth in that paragraph, *provided* that the Fund fulfills its obligations under this Amendment.

**(e). Use of Summary Prospectuses.** 

**(i).** The Company shall ensure that an Initial Summary Prospectus is used for each currently offered Variable Contract described under the related registration statement, in accordance with paragraph (j)(1)(i) of Rule 498A.

**(ii).** The Fund shall ensure that a summary prospectus is used for the Portfolios, in accordance with paragraph (j)(1)(ii) of Rule 498A.

**3.** **Content of Fund Documents.** The Fund shall be responsible for the content and substance of the Fund
Documents as provided to the Company, including, but not limited to, the accuracy and completeness of the Fund Documents. Without limiting
the generality of the foregoing in any manner, the Fund shall be responsible for ensuring that the Fund Documents as provided to the Company:

**(a).** Meet the applicable standards of the 1933 Act, the Securities Exchange Act of 1934, as amended; the 1940 Act; and all rules and regulations under those Acts; and

**(b).** Do not contain any untrue statement of a material fact or omit to state a material fact necessary in order to make the statements made, in light of the circumstances under which they are made, not misleading.

**4.** **Provision of Fund Documents for Paper Delivery.** The Fund shall:

**(a).** At its expense, as the Company may reasonably request from time to time, provide the Company with sufficient paper copies of the then current Fund Documents, so that the Company may maintain a supply of such current paper documents sufficient in its reasonable judgment to meet anticipated requests from Contract Owners (see paragraphs (e) and (f) of Rule 30e-3 and paragraphs (i)(1) and (j)(3) of Rule 498A). Such Company requests shall be fulfilled reasonably promptly, but in no event more than five (5) business days after the request from the Company is received by the Fund.

**(b).** Alternatively, if requested by the Company in lieu thereof, the Fund or its designee shall provide such electronic or other documentation (including "camera ready" copies of the current Fund Documents as set in type, and such other assistance as is reasonably necessary to have the then current Fund Documents printed for distribution; the reasonable costs of providing the electronic documentation and of such printing to be borne by the Fund.

**5.** **Portfolio Expense and Performance Data.** The Fund shall provide such data regarding each Portfolio's expense ratios and
investment performance as the Company shall reasonably request, to facilitate the registration and sale of the Variable Contracts. Without
limiting the generality of the forgoing, the Fund shall provide the following Portfolio expense and performance data on a timely basis
to facilitate the Company's preparation of its annually updated registration statement for the Variable Contracts (and as otherwise
reasonably requested by the Company), but in no event later than 60 calendar days after the close of each Portfolio's fiscal year:

**(a).** the ***gross*** "Annual Portfolio Company Expenses" for each Portfolio calculated in accordance with Item 3 of Form N-1A, <u>before</u> any expense reimbursements or fee waiver arrangements (and in accordance with (i) Instruction 16 to Item 4 of Form N-4, and (ii) Instruction 4(a) to Item 4 of Form N-6); and

**(b).** the ***net*** "Annual Portfolio Company Expenses" (aka "Total Annual Fund Operating Expenses") for each Portfolio calculated in accordance with Item 3 of Form N-1A, that <u>include</u> any expense reimbursements or fee waiver arrangements (and in accordance with (i) Instruction 17 to Item 4 of Form N-4, and (ii) Instruction 4 to Item 17 of Form N-4, and (iii) Instruction 4(b) to Item 4 of Form N-6, and (iv) Instruction 4 to Item 18 of Form N-6), and the period for which the expense reimbursements or fee waiver arrangement is expected to continue and whether it can be terminated by the Portfolio (or Fund); and

**(c).** the "Average Annual Total Returns" for each Portfolio (before taxes) as calculated pursuant to Item 4(b)(2)(iii) of Form N-1A (for the 1, 5, and 10 year periods, and in accordance with (i) Instruction 7 to Item 17 of Form N-4, and (ii) Instruction 7 to Item 18 of Form N-6).

**6.** **Construction of this Amendment; Participation Agreement**.

**(a).** This Amendment shall be interpreted to be consistent with, and to facilitate compliance with and reliance on, Rule 30e-3 under the 1940 Act and Rule 498A (including paragraph (j) thereof) under the 1933 Act and any interpretations of those Rules by the Securities and Exchange Commission, its staff, courts, or other appropriate legal authorities.

**(b).** To the extent the terms of this Amendment conflict with the terms of the Participation Agreement, the terms of this Amendment shall control; otherwise, and except as otherwise specifically set forth in this Amendment, the terms of the Participation Agreement shall continue to apply, and shall apply to the duties, responsibilities, rights and obligations of the Parties under and pursuant to this Amendment.

**7.** **Termination.** This Amendment shall terminate upon the earlier of:

**(a).** termination of the Participation Agreement; or

**(b).** 60 days written notice from any Party to the other Parties.

**8.** **Indemnification.** The Fund specifically agrees to indemnify and hold harmless the Company (and its
officers, directors, and employees) from any and all liability, claim, loss, demand, damages, costs and expenses (including reasonable
attorney's fees) arising from or in connection with any claim or action of any type whatsoever brought against the Company (or its
officers, directors, and employees) as a result of any failure or alleged failure by the Fund to provide the Fund Documents in accordance
with the terms of this Amendment or to fulfill its other duties and responsibilities under this Amendment or for any other breach of this
Amendment. This indemnification shall be in addition to and not in lieu of the indemnification provided for in the Participation Agreement
or any other addendums or amendments thereto, but otherwise shall be subject to and in accordance with the terms and conditions of the
Participation Agreement.

**9.** **Counterparts and Delivery.** This Amendment may be executed in two or more counterparts, each of which shall be an original and
all of which together shall constitute one instrument. A signed copy of this Amendment delivered by facsimile or by emailing a copy in
.pdf form shall be treated as an original and shall bind all Parties just as would the exchange of originally signed copies.

IN WITNESS WHEREOF, the undersigned have caused this Amendment to be executed as of the date first above written.

<u>The Company:</u>

**THE OHIO NATIONAL LIFE INSURANCE COMPANY, on behalf of itself and each Separate Account** 

---

| | |
|:---|:---|
| By: | /s/ Todd Brockman |
| Print Name: | Todd Brockman |
| Title: | VP, Mutual Fund Operations |

---

<u>The Fund:</u>

**BNY MELLON VARIABLE INVESTMENT FUND** 

---

| | |
|:---|:---|
| By: | /s/ James Bitetto |
| Print Name: | James Bitetto |
| Title: | Vice President and Secretary |

---

## Exhibit 99.30

**Fund Participation Agreement**

This Agreement is entered into on this 1<sup>st</sup> day of May, 2003, between The Ohio National Life Insurance Company ("ONLIC") and Ohio National Life Assurance Corporation ("ONLAC") (together "Ohio National"), life insurance companies organized under the laws of the State of Ohio sponsor of the separate accounts listed on Schedule C ("Separate Accounts"), separate accounts established by Ohio National in accordance with the laws of Ohio, Calvert Variable Series, ("CVS"), a management investment company organized under the laws of the State of Maryland, and Calvert Distributors, Inc. ("CDI"), the principal underwriter of CVS, organized under of the laws of the State of Delaware.

**Article I**

**Definitions**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.1 **"Business Day"** shall mean a day on which Ohio
National and the New York Stock Exchange are customarily open for business.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.2 **"Contract"** shall mean a variable annuity or variable
life insurance contract issued by Ohio National.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.3 **"Contractholder"** shall mean any association,
employer, trustee(s) or individual who is a party to a Contract.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.4 **"Participant"** shall mean any employee of an employer
or Contractholder who is enrolled to participate under the Contract.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.5 **"Participating Company"** shall mean any insurance
company (including Ohio National), that offers variable annuity and/or variable life insurance contracts to the public and which has
entered into an agreement with the Fund similar hereto for the purpose of making Fund shares available to serve as the underlying investment
medium for the aforesaid contracts.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.6 **"Fund"** shall mean a portfolio of investments
of CVS having specific investment objectives, policies and restrictions.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.7 **"Sub-account"** shall mean any sub-account of Separate
Accounts set up for the purpose of investing in a corresponding Fund.

**Article II**

**Representations**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.1 Ohio National represents that:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a. ONLIC and ONLAC are insurance companies organized under the laws
of Ohio.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b. Separate Accounts have been established by Ohio National pursuant
to the Insurance Code for the purpose of serving as funding media for Contracts.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;c. Separate Accounts are registered under the Investment Company
Act of 1940 as unit investment trusts.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;d. Contracts offered by Ohio National and funded through Separate
Accounts are described in registration statements filed under the Securities Act of 1933 (the "1933 Act").

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;e. The income, gains and losses, whether or not realized, from assets
allocated to Separate Accounts are, in accordance with the applicable Contracts, to be credited to or charged against such Separate Accounts
without regard to other income, gains or losses of Ohio National.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;f. Separate Accounts are subdivided into various sub-accounts under
which income, gains and losses, whether or not realized from assets allocated to each sub-account are, in accordance with applicable
contracts, to be credited to or charged against such sub-accounts without regard to other income, gains or losses of other sub-accounts
or of Ohio National.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;g. Ohio National has established Separate Accounts in such a manner
as to enable it to use Fund shares as the underlying investment medium for corresponding Sub-accounts.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;h. Ohio National possesses and shall maintain all licenses and approvals
required to offer and sell Contracts.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.2 CVS represents that:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a. CVS is registered with the Securities and Exchange commission
under the Investment Company Act of 1940 as an open-end management investment company and possesses, and shall maintain, all legal and
regulatory licenses, approvals, consents and/or exemptions required for CVS to operate and offer Fund shares as the underlying investment
medium for certain Sub-accounts.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b. CVS is currently qualified as a Regulated Investment Company
under Subchapter M of the Internal Revenue Code of 1986, as amended and that it intends to maintain such qualification (under Subchapter
M or any successor or similar provision) and that it will notify Ohio National with reasonable promptness after having a reasonable basis
for believing that it has ceased to so qualify or that it might not so qualify in the future.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;c. CVS is divided into various funds, each Fund being subject to
separate investment objectives, policies, and restrictions.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;d. CVS assets shall be managed and invested in a manner that complies
with the requirements of Section 817(h) of the Code.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;e. Shares of CVS will be sold only to insurance companies and their
separate accounts that offer variable annuity and/or variable life insurance contracts. No Fund shares will be offered to the general
public.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;f. CVS shall comply with the terms of this Fund Participation Agreement
directly or through its third parties under contracted obligation to CVS. Such third parties shall be referred herein as "Agents."

**Article III**

**Selection of Sub-accounts**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.1 The Contracts funded through Separate Accounts will provide for
the allocation of contributions among the various Sub-accounts. The Sub-accounts will invest in shares of various registered management
investment companies. The selection of a particular Sub-account is to be made by a Participant and such selection may be changed in accordance
with the terms of the Contracts. The selection and number of Sub-accounts available to Participants will be limited by the Contracts.

**Article IV**

**Fund Shares**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.1 CVS agrees to make shares in the Funds listed on Schedule A available
to serve as the underlying investment media for certain Sub-accounts.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.2 CVS agrees to make additional Fund shares (other than those listed
on Schedule A) available to serve as investment media for Sub-accounts in the future should Ohio National so request.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.3 Ohio National shall be permitted to utilize and employ shares of
management investment companies other than CVS as underlying investment media for Sub-accounts.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.4 CVS shall ensure that Fund shares are registered with applicable
federal and state agencies at all times.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.5 Transfer of Fund shares will be by book entry only. CVS will credit
Ohio National as Separate Account sponsor with the appropriate number of shares of each fund. No stock certificates will be issued to
Ohio National. Ohio National will record shares ordered from a particular Fund in an appropriate title for the corresponding Sub-account.

**Article V**

**Procedures for Placing Orders**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.1 Each business day CVS will use its best efforts to fax closing net
asset value, dividend, and capital gain information to Ohio National by 7:00p.m. Eastern time, or as soon thereafter as practicable.
Ohio National will fax orders to purchase and/or redeem Fund shares by 10:00 a.m. Eastern time the following business day directly with
CVS or its specified agent.

CVS appoints Ohio National as its agent for the limited purpose of accepting orders for Fund shares for Separate Account. CVS will execute orders at the net asset value determined as of the close of trading on the day of receipt of such orders by acting as agent ("effective trade date"). However, any orders received by acting as agent after the close of the New York Stock Exchange will be executed at the net asset value determined at the end of the following business day.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.2 Ohio National shall provide to CVS a list of persons authorized
to place orders for purchases and redemptions with CVS. CVS shall accept orders on behalf of Ohio National only from persons named on
such list. Ohio National shall replace such list with another in the event of changes in authorized persons. Ohio National agrees that
any person whose name appears on the list from time to time will be duly authorized by appropriate corporate action by Ohio National.

**Article VI**

**Settlement**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.1 On the day following the effective trade date, payment will be initiated
by federal wire transfer to a custodial account designated by CVS. To send Ohio National redemption orders, CVS will use federal wire
transfer.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.2 CVS shall mail to Ohio National a copy of a detailed transaction
report and a transaction history report following each trade.

**Article VII**

**Dividends and Distributions**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.1 CVS shall furnish to Ohio National notice of any dividend or distribution
payable on its shares at least five (5) business days prior to the ex-dividend date. On the ex-dividend date or, if not a business day
on the first business day thereafter, CVS shall furnish Ohio National the actual amount of dividend or distribution payable per share.
All of such dividends and distributions as are payable on each Fund's shares shall be automatically reinvested in additional shares of
that Fund. CVS shall, on the date of issuance or if not a business day thereafter, notify Ohio National of the number of shares so issued.

**Article VIII**

**Expenses**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.1 All expenses incident to the performance by CVS under this Agreement
shall be paid by CVS, including the cost of registration of CVS shares with the Securities and Exchange Commission and in states where
required. Ohio National shall bear none of the expenses for the registration of CVS's shares, preparation of CVS's prospectuses, notices,
and periodic reports to shareholders, the preparation of any statements and notices required by any federal or state law, or taxes on
the issue or transfer of CVS's shares subject to this Agreement. However, Ohio National shall be responsible for the expenses of printing
and distributing such materials from Ohio National to Contractholders and Participants. CVS also agrees to pay Ohio National a fee for
reimbursement for the printing and sub-transfer agency services performance on behalf of CVS shares based on attached Schedule B. CVS
and Ohio National agree that the fee does not constitute payment in any manner for investment advisory services or the cost of distribution
of the fund.

**Article IX**

**Statements and Reports**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.1 CVS shall provide monthly statements of account as of the end of
each month for all of Ohio National accounts by the fifteenth (15<sup>th</sup>) Business Day of the following month.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.2 CVS will provide to Ohio National at least one complete copy of
all prospectuses, statements of additional information, annual and semi-annual reports, proxy statements, and all amendments to any of
the above, that relate to the Fund or its shares, contemporaneously with the filing of such document with the Commission or other regulatory
authorities. Such copy may be provided electronically.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.3 Ohio National will provide to CVS at least one copy of all prospectuses,
statements of additional information, reports, proxy statements, sales literature and other promotional materials, and all amendments
to any of the above, that relate to the Contracts or the Separate Account, within a reasonable time after the filing of such document
with the Commission.

**Article X**

**Voting of Fund Shares**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10.1 CVS shall ensure that each Fund complies with all provisions of
the Investment Company Act of 1940 with respect to voting by shareholders and with all rules and valid interpretations of the Securities
and Exchange Commission with respect thereto.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10.2 CVS, as its expense, shall provide Ohio National with copies of
its proxy material in such quantity as Ohio National shall reasonably require for distributing to Contractholders and Participants.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10.3 Ohio National shall provide pass-through voting privileges to all
Contractholders so long as the Securities and Exchange Commission continues to interpret the Investment Company Act of 1940 as requiring
pass-through voting privileges for variable contract owners. It shall be the responsibility of Ohio National to assure that it and the
separate accounts of the other Participating Companies participating in any Fund calculate voting privileges in a consistent manner.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10.4 Ohio National will distribute to Contractholders all proxy material
furnished by CVS and will vote shares in accordance with instructions received from those Ohio National Contractholders with contract
value allocated to CVS shares. Ohio National shall vote CVS shares for which no instructions have been received in the same proportion
as shares for which such instructions have been received from Contractholders. Ohio National and its agents will in no way recommend
action in connection with or oppose or interfere with the solicitation of proxies for CVS shares held for such Contractholders.

**Article XI**

**Marketing and Representations**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11.1 CVS shall periodically furnish Ohio National with the following
materials on computer disc or one original hard copy for Ohio National to distribute to each Contractholder and Participant and to support
Ohio National's marketing efforts.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a. Current Fund Prospectus and any supplements thereto (disc);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b. Current Statement of Additional Information (hard copy);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;c. Current annual and semi-annual reports to shareholders (disc);
and

Such materials will be furnished to Ohio National in time for Ohio National to comply with its regulatory responsibilities under the federal securities laws. Ohio National will bear the cost of printing all materials.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11.2 Ohio National shall designate certain persons or entities that shall
have the requisite licenses to solicit applications for the sale of Contracts. No representation is made as to the number or amount of
Contracts that are to be sold by Ohio National. Ohio National shall make reasonable efforts to market the Contracts and shall comply
with all applicable federal and state laws in connection therewith.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11.3 Ohio National shall make no representations concerning Fund shares
except those contained in a current Fund prospectus, in printed information supplemental to such prospectus. and in materials that have
received the prior approval of CVS.

**Article XII**

**Potential Conflicts**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12.1 Ohio National has reviewed a copy of an order for exemptive relief
granted to CVS by the Securities and Exchange Commission on November 21, 1988 (File No. 812-7095) and, in particular, has reviewed the
conditions to the relief set forth therein. As set forth in such application, the Board of Directors of CVS ("the Board")
will monitor CVS for the existence of any material irreconcilable conflict between the interests of the contractholders of all separate
accounts investing in CVS. An irreconcilable material conflict may arise for a variety of reasons, including: (a) an action by any state
insurance regulatory authority; (b) a change in applicable federal or state insurance, tax, or securities laws or regulations, or a public
ruling, private letter ruling, no-action or interpretative letter, or any similar action by insurance, tax, or securities regulatory
authorities; (c) an administrative or Judicial decision in any relevant proceeding; (d) the manner in which the investments of any portfolio
are being managed; (e) a difference in voting instructions given by variable annuity contractholders and variable life insurance contractholders;
or (f) a decision by an insurer to disregard the voting instructions of contractholders. The Board shall promptly inform Ohio National
if it determines that an irreconcilable material conflict exists and the implications thereof.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12.2 Ohio National will report any potential or existing conflicts of
which it is aware to the Board. Ohio National will assist the Board in carrying out its responsibilities under the shared funding Exemptive
Order, by providing the Board with all information reasonably necessary for the Board to consider any issues raised. This includes, but
is not limited to, an obligation by Ohio National to inform the Board whenever Contractholder voting instructions are disregarded.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12.3 If a majority of the Board, or a majority of Disinterested Board
Members, determines that a material irreconcilable conflict exists with regard to Contractholder investments in the Fund, the Board shall
give prompt notice to all Participating Companies. If the Board determines that Ohio National is responsible for causing or creating
said conflict, Ohio National shall at its sole cost and expense, and to the extent reasonably practicable (as determined by a majority
of the Disinterested Board Members), take such action as is necessary to remedy or eliminate the irreconcilable material conflict. Such
necessary action may include, but shall not be limited to:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a. Withdrawing the assets allocable to the Separate Accounts from the
Fund and reinvesting such assets in a different investment medium, or submitting the question of whether such segregation should be implemented
to a vote of all affected Contractholders and, as appropriate, segregating the assets of any appropriate group (i.e., annuity contract
owners, life insurance contract owners, or variable contract owners of one or more Participating Companies) that votes in favor of such
segregation, or offering to the affected Contractholders the option of making such a change; and/or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b. Establishing a new registered management investment company or managed
separate account.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12.4 If a material irreconcilable conflict arises as a result of a decision
by Ohio National to disregard Contractholder voting instructions and said decision represents a minority position or would preclude a
majority vote by all Contractholders having an interest in CVS, Ohio National, at Ohio National's sole cost, may be required, at the
Board's election, to withdraw the Separate Accounts' investment in CVS and terminate this agreement; provided, however, that such withdrawal
and termination shall be limited to the extent required by the foregoing material irreconcilable conflict as determined by a majority
of the disinterested members of the Board.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12.5 For the purpose of this Article, a majority of the Disinterested
Board Members shall determine whether or not any proposed action adequately remedies any irreconcilable material conflict, but in no
event will the Fund be required to establish a new funding medium for any Contract. Ohio National shall not be required by this Article
to establish a new funding medium for any Contract if an offer to do so has been declined by vote of a majority of the Contractholders
materially adversely affected by the irreconcilable material conflict.

**Article XIII**

**Indemnification**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13.1 Ohio National shall indemnify and hold harmless CVS and each of
its directors, officers, employees, agents, and each person, if any, who controls CVS within the meaning of the 1933 Act against any
losses, claims, damages, or liabilities to which the Fund or any such director, officer, employee, agent or controlling person may become
subject, insofar as such losses, claims, damages, or liabilities (or actions in respect to thereof) arise out of or are based upon any
untrue statement or alleged untrue statement of any material fact contained in information furnished by Ohio National for use in a Fund's
registration statement or prospectus or sales literature or advertisements of the Fund, or arise out of or are based upon the omission
or the alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not
misleading, or arise out of or as a result of conduct, statements or representations (other than statements or representations contained
in the Fund's prospectus and sales literature) of Ohio National or its agents, with respect to the sale and distribution of Contracts
for which Fund shares are an underlying investment; and Ohio National will reimburse any legal or other expenses reasonably incurred
by CVS or any such director, officer, employee, agent, or controlling person in connection with investigating or defending any such loss,
claim, damage, liability, or action. This indemnity agreement will be in addition to any liability that Ohio National may otherwise have.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13.2 CDI shall indemnify and hold harmless Ohio National and each of
its directors, officers, employees, agents, and each person, if any, who controls Ohio National within the meaning of the 1933 Act against
any losses, claims, damages, or liabilities to which Ohio National or any such director, officer, employee, agent, or controlling person
may become subject, insofar as such losses, claims, damages, or liabilities (or actions in respect thereof) arise out of or are based
upon any untrue statement or alleged untrue statement of any material fact contained in a Fund's registration statement or prospectus
or sales literature or arise out of or are based upon the omission or the alleged omission to state therein a material fact required
to be stated therein or necessary to make the statements therein not misleading; and CDI will reimburse any legal or other expenses reasonably
incurred by Ohio National or any such director, officer, employee, agent, or controlling person may become subject, insofar as such losses,
claims, damages, or liabilities (or actions in respect thereof) arise out of or are based upon any untrue statement or alleged untrue
statement of any material fact contained in the registration statement or prospectus or sales literature or advertisements with respect
to the Separate Accounts or the contracts and such statements were based on information provided to Ohio National by CDI or the Fund;
and CDI will reimburse any legal or other expenses reasonably incurred by Ohio National or any such director, officer, employee, agent,
or controlling person in connection with investigating or defending any such loss, claim, damage, liability or action; provided, however,
that CDI or CVS will not be liable in any such case to the extent that any such loss, claim, damage, or liability arises out of or is
based upon an untrue statement or omission or alleged omission made in such Registration Statement or prospectus in conformity with written
information furnished to CVS by Ohio National specifically for use therein. This indemnity agreement will be in addition to any liability
that CDI may otherwise have.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13.3 CDI shall indemnify and hold harmless Ohio National and all liability,
loss, damages, costs, or expenses that Ohio National may incur, suffer, or be required to pay due to CVS's or its Agent's (1) incorrect
calculation of the daily net asset value, dividend rate or capital gain distribution rate; (2) incorrect reporting of the daily net asset
value, dividend rate or capital gain distribution rate; and/or (3) untimely reporting of the net asset value, dividend rate, or capital
gain distribution rate, the materiality of any net asset value error to be determined according to standard investment company industry
practice.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13.4 Promptly after receipt by an indemnified party under this paragraph
of notices of the commencement of action, such indemnified party will, if a claim in respect thereof is to be made against the indemnifying
party under this paragraph, promptly notify the indemnifying party of the commencement thereof. In case any such action is brought against
any indemnified party, and it notified the indemnifying party of the commencement thereof, the indemnifying party will be entitled to
participate therein and, to the extent that it may wish, assume the defense thereof, with counsel satisfactory to such indemnified party.

**Article XIV**

**Commencement and Termination**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14.1 This Agreement shall be effective as of the date set forth in the
first paragraph of this Agreement and shall continue in force until terminated in accordance with the provisions herein.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14.2 This Agreement shall terminate as to the sale and issuance of new
Contracts:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a. At the option of Ohio National or CVS upon 90 days advance written
notice to the other party;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b. At the option of Ohio National, if any Fund shares are not reasonably
available to meet the requirements of the Contracts as determined by Ohio National. Prompt notice of election to terminate shall be furnished
by Ohio National, said termination to be effective 10 days after receipt of notice unless CVS makes available a sufficient number of
shares to meet the requirements of the Contracts within said I 0-day period;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;c. At the option of Ohio National upon the institution of formal
proceedings against CVS by the Securities and Exchange Commission, National Association of Securities Dealers, or any other regulatory
body, the expected or anticipated ruling, judgment or outcome of which may, in Ohio National's reasonable judgment, materially impair
CVS's ability to meet and perform its obligations and duties hereunder. Prompt notice of election to terminate shall be furnished by
Ohio National with said termination to be effective upon receipt of notice;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;d. In the event a Fund's shares are not registered, issued or sold
in accordance with applicable state and/or federal law, or such law precludes the use of such shares as the underlying investment medium
of Contracts issued or to be issued by Ohio National Termination shall be effective immediately upon such occurrence without notice;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;e. Upon assignment of this Agreement unless made with the written
consent of each party.

**Article XV**

**Amendments**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15.1 This Agreement shall automatically be amended to comply with any
amendment to the Investment Company Act of 1940 or rule of any regulatory authority that affects in any manner the actions and relationships
authorized hereunder.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15.2 Any other changes in the terms of this Agreement, including adding
or deleting Funds to or from Schedule A, shall be made by agreement in writing between all parties.

**Article XVI**

**Notice**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16.1 Each notice required by this Agreement shall be given by certified
mail, return receipt requested, to the appropriate parties at the following addresses:

The Ohio National Life Insurance Company

Attn: Ronald L. Benedict

Corporate VP, Counsel & Secretary

One Financial Way

Montgomery, OH 45242

Calvert Group, Ltd.

Attn: Legal Department

4550 Montgomery Avenue, Suite 1000N

Bethesda, MD 20814

Notice shall be deemed to be given on the date of receipt by the addressee as evidenced by the return receipt.

**Article XVII**

**Law**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17.1 This Agreement shall be construed in accordance with the laws of
the State of Maryland.

IN WITNESS WHEREOF, the parties hereto have executed this Agreement to be duly executed and attested as of the date first above written.

---

| | | | |
|:---|:---|:---|:---|
|  |  | The Ohio National Life Insurance Company | The Ohio National Life Insurance Company |
|  |  | Ohio National Life Assurance Corporation | Ohio National Life Assurance Corporation |
| Attest: | ![](fp0096724-1b_01.jpg) | By: | ![](fp0096724-1b_02.jpg) |
|  |  | Its: | Vice Chairman |
|  |  | Calvert Variable Series, Inc. | Calvert Variable Series, Inc. |
| Attest: | ![](fp0096724-1b_03.jpg) | By: | ![](fp0096724-1b_04.jpg) |
|  |  | Its: | Treasurer |
|  |  | Calvert Distributors, Inc. | Calvert Distributors, Inc. |
| Attest: | ![](fp0096724-1b_03.jpg) | By: | ![](fp0096724-1b_04.jpg) |
|  |  | Its: | SVP & Chief Financial Officer |

---

**Schedule A**

Portfolios/Funds of CVS to be made available to Ohio National as the sponsor of the Separate Account:

● CVS Social Equity Portfolio

**Schedule B**

Effective May 1, 2003, CDI shall pay Ohio National an amount equal to the following schedule:

● 0.25% on average quarterly assets

**Schedule C**

Separate Accounts of The Ohio National Life Insurance Company (for variable annuities):

● Ohio National Variable Account A

● Ohio National Variable Account B

● Ohio National Variable Account C

● Ohio National Variable Account D

Separate Account of Ohio National Life Assurance Corporation (for variable life insurance):

● Ohio National Variable Account R

## Exhibit 99.30

<u>EUND PARTICIPATION AGREEMENT</u>

This AGREEMENT is made this 1<sup>st</sup> day of May, 2008, by and between The Ohio National Life Insurance Company (the "Insurer"), a life insurance company domiciled in Ohio, on its behalf and on behalf of certain segregated asset accounts of the Insurer listed on Exhibit A to this Agreement (the "Separate Accounts"); Federated Insurance Series (the "Investment Company"), a Massachusetts business trust; and Federated Securities Corp. (the "Distributor"), a Pennsylvania corporation.

<u>WITNESSETH</u>

WHEREAS, the Investment Company is registered with the Securities and Exchange Commission ("SEC") as an open-end management investment company under the Investment Company Act of 1940, as amended ("1940 Act"); and

WHEREAS, the Investment Company is authorized to issue separate classes of shares of beneficial interest ("shares"), each representing an interest in a separate portfolio of assets (a "Fund") and each Fund has its own investment objective, policies, and limitations; and shares of the Funds are registered under the Securities Act of 1933, as amended ("1933 Act");

WHEREAS, the Investment Company is available to offer shares of one or more of its Funds to separate accounts of insurance companies that fund variable annuity contracts and variable life insurance policies and to serve as an investment medium for variable annuity contracts and variable life insurance policies offered by insurance companies that have entered into participation agreements substantially similar to this agreement ("Participating Insurance Companies"); and

WHEREAS, the Insurer has issued or will issue variable annuity contracts and variable life insurance policies ("Variable Contracts") supported wholly or partially by the Separate Accounts; and

WHEREAS, the Separate Accounts are duly established and maintained as segregated asset accounts by the Insurer to set aside and invest assets attributable to the aforesaid Variable Contracts; and

WHEREAS, the Investment Company has obtained an order from the SEC dated December 29, 1993 (File No. 812-8620), granting Participating Insurance Companies and variable annuity and variable life insurance separate accounts exemptions from the provisions of sections 9(a), 13(a), 15(a), and 15(b) of the 1940 Act and Rules 6e-2(b)(15) and 6e-3(T)(b)(15) thereunder, to the extent necessary to permit shares of the Investment Company to be sold to and held by variable annuity and variable life insurance separate accounts of life insurance companies that may or may not be affiliated with one another (hereinafter the "Mixed and Shared Funding Exemptive Order"); and

WHEREAS, the Distributor is registered as a broker-dealer with the SEC under the Securities Exchange Act of 1934, as amended ("1934 Act"), and is a member in good standing of the Financial Industry Regulatory Authority ("FINRA"); and

WHEREAS, to the extent permitted by applicable insurance laws and regulations, the Insurer intends to purchase shares of one or more of the Investment Company's portfolios on behalf of its Separate Accounts to serve as an investment medium for Variable Contracts funded by the Separate Accounts, and the Distributor is authorized *to* sell shares of the Funds;

NOW, THEREFORE, in consideration of the foregoing and the mutual promises and covenants hereinafter set forth, the parties hereby agree as follows:

ARTICLE I. <u>Sale of Investment Company Shares</u>

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.1 The Distributor agrees to sell to the Insurer those shares of the Funds offered and made available by the Investment Company and identified on Exhibit C that the Insurer orders on behalf of its Separate Accounts, and agrees to execute such orders on each day on which the Investment Company calculates its net asset value pursuant to rules of the SEC ("business day") at the net asset value determined as described in the Investment Company's registration statement, next computed after receipt and acceptance by the Investment Company or its agent of the order for the shares of the Investment Company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.2 The Investment Company agrees to make available on each business day shares of the Funds for purchase at the applicable net asset value per share by the Insurer on behalf of its Separate Accounts; provided, however, that the Board of Trustees of the Investment Company or its designee may refuse to sell shares of any Fund to any person, or suspend or terminate the offering of shares of any Fund, if such action is required by law or by regulatory authorities having jurisdiction or is, in the sole discretion of the Trustees, or their designee, acting in good faith and in light of the Trustees' fiduciary duties under applicable law, necessary in the best interests of the shareholders of any Fund.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.3 The Investment Company and the Distributor agree that shares of the Funds of the Investment Company will be sold only to Participating Insurance Companies, their separate accounts, and other persons consistent with applicable law. No shares of any Fund will be sold directly to the general public to the extent not permitted by applicable law.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.4 The Investment Company and the Distributor will not sell shares of the Funds to any insurance company or separate account unless an agreement containing provisions substantially the same as the provisions in Article IV of this Agreement is in effect to govern such sales.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.5 Upon receipt of a request for redemption in proper form from the Insurer, the Investment Company agrees to redeem any full or fractional shares of the Funds held by the Insurer, ordinarily executing such requests on each business day at the net asset value next computed after receipt and acceptance by the Investment Company or its agent of the request for redemption, except that the Investment Company reserves the right to suspend the right of redemption, consistent with Section 22(e) of the 1940 Act and any rules thereunder. Such redemption shall be paid consistent with Section 22(e) of the 1940 Act and any rules, regulations or orders thereunder, and the procedures and policies of the Investment Company as described in the current registration statement for the Investment Company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.6 Any purchase or redemption request for any Fund shares held or to be held in the Insurer's general account shall be effected at the net asset value per share next determined after the receipt and acceptance of such request by the Investment Company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.7 The Insurer agrees to purchase and redeem the shares of each Fund in accordance with the provisions of Exhibit B to this Agreement and the current prospectus for the Fund.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.8 Issuance and transfer of shares of the Funds will be by book entry only unless otherwise agreed by the Investment Company. Stock certificates will not be issued to the Insurer or the Separate Accounts unless otherwise agreed by the Investment Company. Shares ordered from the Investment Company will be recorded in an appropriate title for the Separate Accounts or the appropriate sub-accounts of the Separate Accounts.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.9 The Investment Company shall furnish same day notice to the Insurer of any income, dividends or capital gain distributions payable on the shares of the Funds. The Insurer hereby elects to reinvest in the Fund all such dividends and distributions as are payable on a Fund's shares and to receive such dividends and distributions in additional shares of that Fund. The Insurer reserves the right to revoke this election in writing and to receive all such dividends and distributions in cash. The Investment Company shall notify the Insurer of the number of shares so issued as payment of such dividends and distributions.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.10 The Investment Company shall instruct its recordkeeping agent to advise the Insurer on each business day of the net asset value per share for each Fund. Neither the Investment Company, any Fund or the Distributor, nor any of their affiliates shall be liable for any information provided to the Insurer pursuant to this Agreement which information is based on incorrect information supplied by the Insurer or any other Participating Insurance Company to the Investment Company or the Distributor.

ARTICLE II. <u>Representations and Warranties</u>

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.1 The Insurer represents and warrants that it is an insurance company duly organized and in good standing under applicable law and that it is taxed as an insurance company under Subchapter L of the Internal Revenue Code of 1986, as amended, (the "Code").

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.2 The Insurer represents and warrants that it has legally and validly established each of the Separate Accounts as a segregated asset account under the applicable state Insurance Code, and that each of the Separate Accounts is a validly existing segregated asset account under applicable federal and state law.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.3 The Insurer represents and warrants that the Variable Contracts issued by the Insurer or interests in the Separate Accounts under such Variable Contracts (1) are or, prior to issuance, will be registered as securities under the 1933 Act or, alternatively, (2) are not registered because they are properly exempt from registration under the 1933 Act or will be offered exclusively in transactions that are properly exempt from registration under the 1933 Act.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.4 The Insurer represents and warrants that each of the Separate Accounts (1) has been registered as a unit investment trust in accordance with the provisions of the 1940 Act or, alternatively, (2) has not been registered in proper reliance upon an exclusion from registration under the 1940 Act.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.5 The Insurer represents that it believes, in good faith, that the Variable Contracts issued by the Insurer are currently treated as annuity contracts or life insurance policies (which may include modified endowment contracts), whichever is appropriate, under applicable provisions of the Code.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.6 The Investment Company represents and warrants that it is duly organized as a business trust under the laws of the Commonwealth of Massachusetts, and is in good standing under applicable law.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.7 The Investment Company represents and warrants that the shares of the Funds are duly authorized for issuance in accordance with applicable law and that the Investment Company is registered as an open-end management investment company under the 1940 Act.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.8 The Investment Company represents that it believes, in good faith, that the Funds currently comply with the diversification provisions of Section 817(h) of the Code and the regulations issued thereunder relating to the diversification requirements for variable life insurance policies and variable annuity contracts.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.9 The Distributor represents and warrants that it is a member in good standing of the FINRA and is registered as a broker-dealer with the SEC.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.10 The Insurer represents and warrants that all of its directors, officers, employees, and other individuals/ entities employed or controlled by the Insurer dealing with the money and/or securities of the Separate Accounts are covered by a blanket fidelity bond or similar coverage for the benefit of the Separate Accounts, in an amount not less than the amount that would be required by Rule 17g-1 of the 1940 Act or related provisions as may be promulgated from time to time as if the Separate Accounts were subject to such rule. The aforesaid bond includes coverage for larceny and embezzlement and is issued by a reputable bonding company. The Insurer agrees to hold for the benefit of the Investment Company and to pay to the Investment Company any amounts lost from larceny, embezzlement or other events covered by the aforesaid bond to the extent such amounts properly belong to the Investment Company pursuant to the terms of this Agreement. The Insurer agrees to make all reasonable efforts to see that this bond or another bond containing there provisions is always in effect, and agrees to notify the Investment Company and the Distributor in the event that such coverage no longer applies.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.11 The Investment Company represents and warrants that all of its trustees, officers, employees, and other individuals or entities dealing with the money and/ or securities of the Investment Company are and shall continue to be at all times covered by a blanket fidelity bond or similar coverage for the benefit of the Investment Company in an amount not less than the minimum coverage as required currently by Rule 17g-1 of the 1940 Act or related provisions as may be promulgated from time to time. The aforesaid bond shall include coverage for larceny and embezzlement and shall be issued by a reputable bonding company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.12 The Insurer acknowledges that, pursuant to Form 24F-2, the Investment Company is not required to pay fees to the SEC for registration of its shares under the 1933 Act with respect to its shares issued to Separate Accounts that are unit investment trusts that offer interests that are registered under the 1933 Act and on which a registration fee has been or will be paid to the SEC ("Registered Separate Accounts"). The Insurer agrees to provide the Investment Company each year within 60 days of the end of the Investment Company's fiscal year, or when reasonably requested by the Investment Company, information as to the number of shares purchased by Registered Separate Accounts and Separate Accounts the interests of which are not registered under the 1933 Act. The Insurer acknowledges that the Investment Company intends to rely on the information so provided and represents and warrants that such information shall be accurate.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.13 The parties shall each be deemed to repeat all the foregoing representations and warranties made by it at the time of any transaction subject to this Agreement.

ARTICLE III. <u>General Duties</u>

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.1 The Investment Company shall take all such actions as are necessary to permit the sale of the shares of each Fund to the Separate Accounts, including maintaining its registration as an investment company under the 1940 Act, and registering the shares of the Funds sold to the Separate Accounts under the 1933 Act for so long as required by applicable law. The Investment Company shall amend its Registration Statement filed with the SEC under the 1933 Act and the 1940 Act from time to time as required in order to effect the continuous offering of the shares of the Funds. The Investment Company shall register and qualify the shares for sale in accordance with the laws of the various states to the extent deemed necessary by the Investment Company or the Distributor.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.2 The Investment Company shall use its best efforts to maintain qualification of each Fund as a Regulated Investment Company under Subchapter M of the Code (or any successor or similar provision) and shall notify the Insurer immediately upon having a reasonable basis for believing that a Fund has ceased to so qualify or that it might not so qualify in the future.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.3 The Investment Company shall use its best efforts to enable each Fund to comply with the diversification provisions of Section 817(h) of the Code and the regulations issued thereunder relating to the diversification requirements for variable life insurance policies and variable annuity contracts and any prospective amendments or other modifications to Section 817 or regulations thereunder, and shall notify the Insurer immediately upon having a reasonable basis for believing that any Fund has ceased to comply.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.4 The Insurer shall take all such actions as are necessary under applicable federal and state law to permit the sale of the Variable Contracts issued by the Insurer, including registering each Separate Account as an investment company to the extent required under the 1940 Act, and registering the Variable Contracts or interests in the Separate Accounts under the Variable Contracts to the extent required under the 1933 Act, and obtaining all necessary approvals to offer the Variable Contracts from state insurance commissioners.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.5 The Insurer shall use its best efforts to maintain the treatment of the Variable Contracts issued by the Insurer as annuity contracts or life insurance policies, whichever is appropriate, under applicable provisions of the Code, and shall notify the Investment Company and the Distributor immediately upon having a reasonable basis for believing that such Variable Contracts have ceased to be so treated or that they might not be so treated in the future.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.6 The Insurer shall offer and sell the Variable Contracts issued by the Insurer in accordance with applicable provisions of the 1933 Act, the 1934 Act, the 1940 Act, the regulations promulgated by the FINRA ("FINRA Conduct Rules"), and state law respecting the offering of variable life insurance policies and variable annuity contracts.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.7 The Distributor shall sell and distribute the shares of the Funds of the Investment Company in accordance with the applicable provisions of the 1933 Act, the 1934 Act, the 1940 Act, the FINRA Conduct Rules, and state law.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.8 During such time as the Investment Company engages in Mixed Funding or Shared Funding, a majority of the Board of Trustees of the Investment Company shall consist of persons who are not "interested persons" of the Investment Company ("disinterested Trustees"), as defined by Section 2(a)(l9) of the 1940 Act and the rules thereunder, and as modified by any applicable orders of the SEC, except that if this provision of this Section 3.8 is not met *by* reason of the death, disqualification, or bona fide resignation of any Trustee or Trustees, then the operation of this provision shall be suspended (a) for a period of 45 days if the vacancy or vacancies may be filled by the Investment Company's Board; (b) for a period of 60 days if a vote of shareholders is required to fill the vacancy or vacancies; or (c) for such longer period as the SEC may prescribe by order upon application.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.9 The Insurer and its agents will not in any way recommend any proposal or oppose or interfere with any proposal submitted by the Investment Company at a meeting of owners of Variable Contracts ("Variable Contract Owners") or shareholders of the Investment Company, and will in no way recommend, oppose, or interfere with the solicitation of proxies for Investment Company shares held by Variable Contract Owners, without the prior written consent of the Investment Company, which consent may be withheld in the Investment Company's sole discretion.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.10 Each party hereto shall cooperate with each other party and all appropriate governmental authorities having jurisdiction (including, without limitation, the SEC, the FINRA, and state insurance regulators) and shall permit such authorities reasonable access to its books and records in connection with any investigation or inquiry relating to this Agreement or the transactions contemplated hereby.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.11 (a) The parties acknowledge that the SEC and the United States Treasury Department have adopted a series of rules and regulations arising out of the USA PATRIOT Act (together with such rules and regulations, the "AML-CIP Regulations"), specifically requiring certain financial institutions, including the Investment Company, Distributor and Insurer, to establish a written anti-money laundering and customer identification program (an "AML-CIP Program");

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) The Investment Company, Distributor and Insurer each represent, warrant and certify that they have established, and covenant that at all times during the existence of this Agreement they will maintain, an AML-CIP Program in compliance with the AML-CIP Regulations.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) Insurer covenants that it will perform all activities, including the establishment and verification of customer identities as required by the AML-CIP Regulations and/ or its Program, with respect to all customers on whose behalf Insurer maintains a direct account with the Investment Company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) The parties agree that (i) accounts in the Investment Company beneficially owned by Insurer's customers shall be accounts of the Insurer for all purposes under Insurer's Program and that (ii) Insurer's customers will be customers of Insurer for all purposes under Insurer's AML-CIP Program.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.12 (a) The parties acknowledge that:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) the SEC has adopted Regulation S-Pat 17 CFR Part 248 to protect the privacy of individuals who obtain a financial product or service for personal, family or household use;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) Regulation S-P permits financial dealers, such as Insurer and Distributor, to disclose "nonpublic personal information" ("NPI") of its "customers" and "consumers" (as those terms are therein defined in Regulation S-P) to affiliated and nonaffiliated third parties, without giving such customers and consumers the ability to opt out of such disclosure, for the limited purposes of processing and servicing transactions (17 CFR § 248.14); for specified law enforcement and miscellaneous purposes (17 CFR § 248.15); and to service providers or in connection with joint marketing arrangements (17 CFR § 248.13);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) Regulation S-P provides that the right of a customer and consumer to opt out of having his or her NPI disclosed pursuant to 17 CFR § 248.7 and 17 CFR § 248.10 does not apply when the NPI is disclosed to service providers or in connection with joint marketing arrangements, provided the Insurer and third party enter into a contractual agreement that prohibits the third party from disclosing or using the information other than to carry out the purposes for which the Insurer disclosed the information (17 CFR § 248.13);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iv) NPI of Insurer's consumers and customers that have no independent customer relationship with Distributor may be disclosed to Distributor during the term of the Agreement ("Insurer Customer NPI");

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(v) certain consumers and customers of Insurer may also be consumers and customers of Distributor as fully-disclosed shareholders of Federated mutual funds ("Joint Customer"); and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(vi) NPI of Joint Customers may be disclosed and exchanged during the term of this Agreement ("Joint Customer NPI").

Each party hereby covenants that any Joint Customer NPI which a party receives from the other party will be subject to the following limitations and restrictions:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.12 (a) Each party may redisclose Joint Customer NPI to its own affiliates, who will be limited by the same disclosure and use restrictions that are imposed on the parties under this Agreement; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Each party may redisclose and use Joint Customer NPI only as necessary in the ordinary course of business to provide the services identified in this Agreement except as permitted under Regulation S-P and as required by any applicable federal or state law.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) Distributor covenants that:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) Distributor may redisclose Insurer Customer NPI to its own affiliates, who will be limited by the same disclosure and use restrictions that are imposed on Distributor under this Agreement; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) Distributor may redisclose and use Insurer Customer NPI only as necessary in the ordinary course of business to provide the services identified in this Agreement and to third-party service providers as permitted under Regulation S-P.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) Each party represents and warrants that, in accordance with 17 CPR § 248.30, it has implemented, and will continue to carry out for the term of the Agreement, policies and procedures reasonably designed to:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) Insure the security and confidentiality of records and customers' NPI;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) Protect against any anticipated threats or hazards to the security or integrity of customer records and NPI; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) Protect against unauthorized access or use of such customer records or NPI that could result in substantial harm or inconvenience to any customer.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) The provisions of this Section 3.12 shall survive the termination of the Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.13 (a) Insurer shall not directly or indirectly offer, adopt, implement, conduct or participate in any program, plan, arrangement, advice or strategy that Distributor or the Investment Company reasonably deem to be harmful to Shareholders or potentially disruptive to the management of the Funds, as communicated to Insurer by Distributor in writing from time to time, or which violates the policies and procedures of the Funds as disclosed in each Fund's Prospectus; including without limitation, any activity involving market timing, programmed transfer, frequent transfer and similar investment programs. Insurer, at all times during the term of this Agreement, shall have active, formal policies and procedures aimed at deterring "market timers." Such policies and procedures shall provide for Insurer's ongoing review of its customers' account activity and prescribe effective actions to deter or detect and stop disruptive activities. In addition, Insurer shall not knowingly permit any customer to invest in any of the Funds if that customer has been identified to Insurer as a "market timer" by another fund company;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) With respect to Shares held by Insurer on an omnibus basis with the Funds, Insurer shall upon Distributor's request, promptly provide the Taxpayer Identification Number of each shareholder that purchased, redeemed, transferred or exchanged shares of a Fund and the amount and dates of such shareholder purchases, redemptions, transfers and exchanges; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) Insurer shall follow Distributor's instructions to restrict or prohibit further purchases or exchanges of Shares by a shareholder that has been identified by Distributor as having engaged in transactions of Shares (whether directly or through Insurer) that violate the policies and procedures of the Investment Company as disclosed in each Fund's Prospectus or that are deemed disruptive to a Fund as determined by Distributor in its sole discretion.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.14 Insurer will forward for processing on each day only those purchase and redemption orders received by Insurer prior to the daily cut-off times disclosed in each Fund's prospectus. Insurer has, and will maintain at all times during the term of this Agreement, appropriate internal controls for the segregation of purchase and redemption orders received prior to the daily cut-off times disclosed in each Fund's Prospectus, from purchase and redemption orders received after the daily cut-off times disclosed in each Fund's prospectus as and to the extent required by the 1940 Act.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.15 Insurer acknowledges that the Funds are only registered for sale in the United States of America and that no action has been taken by or on behalf of Distributor or the Investment Company in any other jurisdiction to permit a public offering or sale of Shares, or the possession or distribution of any Prospectus in any jurisdiction where action for such purposes is required. Insurer agrees not to make the Funds available for sale to persons in any jurisdiction in which such offer is unlawful. Should Insurer undertake to offer and/or sell Shares of the Investment Company in any jurisdiction other than the United States of America, Insurer shall inform itself of, and shall comply with, at its own expense, any and all applicable law and regulation relating thereto, and none of Distributor, the Investment Company, or their respective authorized agents shall have any responsibility or liability in connection therewith. As used herein, ''United States of America" shall be deemed to include any state of the United States, the District of Ca, Puerto Rico, the Virgin Islands, and any other possession of the United States.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.16 The Insurer agrees that the Investment Company and the Distributor shall bear no responsibility for any act or omission of any fund or portfolio that serves as an investment option under the Variable Contracts other than the Funds hereunder.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.17 (a) The Parties may agree from time to time to set appropriate security procedures and to perform electronically certain of their obligations under this Agreement, including without limitation, the delivery of Disclosure Documents, opening accounts, transmitting purchase, exchange, and redemption orders, and delivering and maintaining shareholder communications.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Where Insurer (i) has obtained the informed consent of the underlying beneficial owner of an account in the Funds , and (ii) is the record owner of such account in the Funds , Insurer hereby consents to the electronic delivery, via Distributor's website ("Website"), of all Disclosure Documents. Insurer acknowledges that Distributor utilizes portable document format ("PDF") files for Disclosure Documents on the Website, and that Insurer might incur costs in connection with the delivery of Disclosure Documents (e.g. on-line time). If Insurer does not already have access to the Adobe Acrobat Reader software necessary to view PDF files of Disclosure Documents on the Website, Insurer acknowledges that such software can be obtained for free through the Help tab on the Website. Insurer further acknowledges that notice of updates to the Disclosure Documents shall be provided by Distributor , as appropriate, on the account statement that is regularly provided to Insurer.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) Insurer acknowledges and agrees that Distributor (i) offers the Website solely as a convenience on an "as is" and "as available" basis; (ii) may discontinue the Website's availability at any time; and (iii) disclaims all express and implied warranties regarding the Website, including without limitation any warranty of merchantability, fitness for a particular purpose, or arising from course of dealing or performance. Insurer further acknowledges and agrees that in no event shall Distributor , any Fund or its officers and directors, or any of their affiliates or employees be liable (in contract, tort, or otherwise) to Insurer, its registered representatives, or third parties for (i) Insurer's use or non-use of the Website and any data or information in connection therewith; (ii) any delay, malfunction, or lack of security associated with, or caused by, the Website; or (iii) acts or omissions of third parties, including without limitation any entity which has licensed software or systems to Distributor or any of its affiliates in connection with the Website. Except as strictly necessary pursuant to this Agreement, Insurer shall not make or permit any disclosure or use of the Website or any related documentation or information without Distributor's prior written consent. Insurer agrees to provide such security necessary to prevent any unauthorized use of the Website. The provisions of this paragraph shall survive the termination of this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) As a condition to using the Website, Insurer shall complete and regularly update, or cause the same, all such applications, authorizations, and other documents that may be required from time to time by Distributor and any entity that has licensed software or systems to Distributor in connection with the Website. In addition, Insurer shall immediately notify Distributor if any password issued to Insurer in connection herewith is or may be jeopardized.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) Insurer agrees to provide such security as is necessary to prevent any unauthorized use of the Investment Company's recordkeeping system, accessed via any computer hardware or software provided to Insurer by Distributor. Insurer represents and warrants that it has examined and tested the internal systems that it has developed to support the services outlined in this Agreement and, as of the date of this Agreement, has no knowledge of any situation or circumstance that will inhibit the system's ability to perform the expected functions or inhibit Insurer's ability to provide the expected services.

ARTICLE IV. <u>Potential Conflicts</u>

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.1 During such time as the Investment Company engages in Mixed Funding or Shared Funding, the parties hereto shall comply with the conditions in this Article IV.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.2 The Investment Company's Board of Trustees shall monitor the Investment Company for the existence of any material irreconcilable conflict (1) between the interests of owners of variable annuity contracts and variable life insurance policies, and (2) between the interests of owners of variable annuity contracts and variable life insurance policies issued by different Participating Life Insurance Companies that invest in the Investment Company. A material irreconcilable conflict may arise for a variety of reasons, including: (a) an action by any state insurance regulatory authority; (b) a change in applicable federal or state insurance, tax, or securities laws or regulations, or a public ruling, private letter ruling, no-action or interpretive letter, or any similar action by insurance, tax, or securities regulatory authorities; (c) an administrative or judicial decision in any relevant proceeding; (d) the manner in which the investments of any Fund of the Investment Company are being managed; (e) a difference in voting instructions given by variable annuity and variable life insurance contract owners; or (f) a decision by a Participating Insurance Company to disregard the voting instructions of owners of variable annuity contracts and variable life insurance policies.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.3 The Insurer agrees that it shall report any potential or existing conflicts of which it is aware to the Investment Company's Board of Trustees. The Insurer will be responsible for assisting the Board of Trustees of the Investment Company in carrying out its responsibilities under the Mixed and Shared Funding Exemptive Order, or, if the Investment Company is engaged in Mixed Funding or Shared Funding in reliance on Rule 6e-2, 6e-3(T), or any other regulation under the 1940 Act, the Insurer will be responsible for assisting the Board of Trustees of the Investment Company in carrying out its responsibilities under such regulation, by providing the Board with all information reasonably necessary for the Board to consider any issues raised. This includes, but is not limited to, an obligation by the Insurer to inform the Board whenever Variable Contract Owner voting instructions are disregarded. The Insurer shall carry out its responsibility under this Section 4.3 with a view only to the interests of the Variable Contract Owners.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.4 The Insurer agrees that in the event that it is determined by a majority of the Board of Trustees of the Investment Company or a majority of the Investment Company's disinterested Trustees that a material irreconcilable conflict exists, the Insurer shall, at its expense and to the extent reasonably practicable (as determined by a majority of the disinterested Trustees of the Board of the Investment Company), take whatever steps are necessary to remedy or eliminate the irreconcilable material conflict, up to and including: (1) withdrawing the assets allocable to some or all of the Separate Accounts from the Investment Company or any Fund and reinvesting such assets in a different investment medium, including another portfolio of the Investment Company, or submitting the question as to whether such segregation should be implemented to a vote of all affected Variable Contract Owners and, as appropriate, segregating the assets of any appropriate group *(i.e.,* annuity contract owners or life insurance contract owners of contracts issued by one or more Participating Insurance Companies), that votes in favor of such segregation, or offering to the affected Variable Contract Owners the option of making such a change; and (2) establishing a new registered management investment company or managed separate account. If a material irreconcilable conflict arises because of the Insurer's decision to disregard Variable Contract Owners' voting instructions and that decision represents a minority position or would preclude a majority vote, the Insurer shall be required, at the Investment Company's election, to withdraw the Separate Accounts' investment in the Investment Company, provided, however, that such withdrawal and termination shall be limited to the extent required by the foregoing material irreconcilable conflict as determined by a majority of the disinterested Trustees, and no charge or penalty will be imposed as a result of such withdrawal. These responsibilities shall be carried out with a view only to the interests of the Variable Contract Owners. A majority of the disinterested Trustees of the Investment Company shall determine whether or not any proposed action adequately remedies any material irreconcilable conflict, but in no event will the Investment Company or its investment adviser or the Distributor be required to establish a new funding medium for any Variable Contract. The Insurer shall not be required by this Section 4.4 to establish a new funding medium for any Variable Contract if any offer to do so has been declined by vote of a majority of Variable Contract Owners materially adversely affected by the material irreconcilable conflict.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.5 The Insurer, at least annually, shall submit to the Investment Company's Board of Trustees such reports, materials, or data as the Board reasonably may request so that the Trustees of the Investment Company may fully carry out the obligations imposed upon the Board by the conditions contained in the application for the Mixed and Shared Funding Exemptive Order and said reports, materials, and data shall be submitted more frequently if deemed appropriate by the Board.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.6 All reports of potential or existing conflicts received by the Investment Company's Board of Trustees, and all Board action with regard to determining the existence of a conflict, notifying Participating Insurance Companies of a conflict, and determining whether any proposed action adequately remedies a conflict, shall be properly recorded in the minutes of the Board of Trustees of the Investment Company or other appropriate records, and such minutes or other records shall be made available to the SEC upon request.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.7 The Board of Trustees of the Investment Company shall promptly notify the Insurer in writing of its determination of the existence of an irreconcilable material conflict and its implications.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.8 The Investment Company and the Insurer agree that if and to the extent Rule 6e-2 or Rule 6e-3(T) under the 1940 Act is amended or if Rule 6e-3 is adopted in final form, to the extent applicable, the Investment Company and the Insurer shall each take such steps as may be necessary to comply with the Rule as amended or adopted in final form. If, in the future, the Mixed and Shared Funding Exemptive Order should no longer be necessary under applicable law, then this Section 4.8 shall continue in effect, and the remainder of Article IV shall no longer apply.

ARTICLE V. <u>Prospectuses and Proxy Statements; Voting</u>

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.1 The Insurer shall distribute such prospectuses, proxy statements and periodic reports of the Investment Company to the owners of Variable Contracts issued by the Insurer as required to be distributed to such Variable Contract Owners under applicable federal or state law.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.2 The Distributor shall provide the Insurer with as many copies of the current prospectus of the Investment Company as the Insurer may reasonably request. If requested by the Insurer in lieu thereof, the Investment Company shall provide such documentation (including a final copy of the Investment Company's prospectus as set in type or in camera-ready copy) and other assistance as is reasonably necessary in order for the Insurer to either print a stand-alone document or print together in one document the current prospectus for the Variable Contracts issued by the Insurer and the current prospectus for the Investment Company, or a document combining the Investment Company prospectus with prospectuses of other funds in which the Variable Contracts may be invested. The Investment Company shall bear the expense of printing copies of its current prospectus that will be distributed to existing Variable Contract Owners, and the Insurer shall bear the expense of printing copies of the Investment Company's prospectus that are used in connection with offering the Variable Contracts issued by the Insurer.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.3 The Investment Company and the Distributor shall provide, at the Investment Company's expense, such copies of the Investment Company's current Statement of Additional Information ("SAI") as may reasonably be requested, to the Insurer and to any owner of a Variable Contract issued by the Insurer who requests such SAI.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.4 The Investment Company, at its expense, shall provide the Insurer with copies of its proxy statements, periodic reports to shareholders, and other communications to shareholders in such quantity as the Insurer shall reasonably require for purposes of distributing to owners of Variable Contracts issued by the Insurer. The Investment Company, at the Insurer's expense, shall provide the Insurer with copies of its periodic reports to shareholders and other communications to shareholders in such quantity as the Insurer shall reasonably request for use in connection with offering the Variable Contracts issued by the Insurer. If requested by the Insurer in lieu thereof, the Investment Company shall provide such documentation (including a final copy of the Investment Company's proxy statements, periodic reports to shareholders, and other communications to shareholders, as set in type or in camera-ready copy) and other assistance as reasonably necessary in order for the Insurer to print such shareholder communications for distribution to owners of Variable Contracts issued by the Insurer.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.5 It is understood and agreed that, except with respect to information regarding the Investment Company, the Funds, the Distributor, or an investment adviser to the Investment Company or the Funds ("Adviser") provided in writing by the Investment Company, the Distributor or the Adviser and used in conformity therewith, none of the Investment Company, the Funds, the Distributor, or the Adviser is responsible for the content of the prospectuses or statements of additional information for the Variable Contracts.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.6 As required by the Mixed and Shared Funding Exemptive Order, the Insurer shall be responsible for calculating voting privileges in a manner consistent with other Participating Insurance Companies. Towards this end, the Investment Company agrees to provide written instructions on the calculation of voting privileges, and the Insurer agree to vote consistent with any reasonable standards that the Investment Company may adopt and provide in writing (which writing may consist of the Investment Company's proxy statement).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.7 For so long as the SEC interprets the 1940 Act to require pass-through voting by Participating Insurance Companies whose Separate Accounts are registered as investment companies under the 1940 Act, the Insurer shall vote shares of each Fund of the Investment Company held in a Separate Account or a sub-account thereof, whether or not registered under the 1940 Act, at regular and special meetings of the Investment Company in accordance with instructions timely received by the Insurer (or its designated agent) from owners of Variable Contracts funded by such Separate Account or sub-account thereof having a voting interest in the Fund. The Insurer shall vote shares of a Fund of the Investment Company held in a Separate Account or a sub-account thereof that are attributable to the Variable Contracts as to which no timely instructions are received, as well as shares held in such Separate Account or subaccount thereof that are not attributable to the Variable Contracts and owned beneficially by the Insurer (resulting from charges against the Variable Contracts or otherwise), in the same proportion as the votes cast by owners of the Variable Contracts funded by that Separate Account or subaccount thereof having a voting interest in the Fund from whom instructions have been timely received. The Insurer shall vote shares of each Fund of the Investment Company held in its general account, if any, in the same proportion as the votes cast with respect to shares of the Fund held in all Separate Accounts of the Insurer or sub-accounts thereof, in the aggregate.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.8 During such time as the Investment Company engages in Mixed Funding or Shared Funding, the Investment Company shall disclose in its prospectus that (1) the Investment Company is intended to be a funding vehicle for variable annuity and variable life insurance contracts offered by various insurance companies, (2) material irreconcilable conflicts possibly may arise, and (3) the Board of Trustees of the Investment Company will monitor events in order to identify the existence of any material irreconcilable conflicts and to determine what action, if any, should be taken in response to any such conflict. The Investment Company hereby notifies the Insurer that prospectus disclosure may be appropriate regarding potential risks of offering shares of the Investment Company to separate accounts funding both variable annuity contracts and variable life insurance policies and to separate accounts funding Variable Contracts of unaffiliated life insurance companies.

ARTICLE VI. <u>Sales Material and Information</u>

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.1 The Insurer shall furnish, or shall cause to be furnished, to the Investment Company or its designee, each piece of sales literature or other promotional material in which the Investment Company (or any Fund thereof) or its investment adviser or the Distributor is named at least 15 days prior to the anticipated use of such material, and no such sales literature or other promotional material shall be used unless the Investment Company and the Distributor or the designee of either approve the material or do not respond with comments on the material within 10 days from receipt of the material.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.2 The Insurer agrees that neither it nor any of its affiliates or agents shall give any information or make any representations or statements on behalf of the Investment Company or concerning the Investment Company other than the information or representations contained in the Registration Statement or prospectus for the Investment Company shares, as such registration statement and prospectus may be amended or supplemented from time to time, or in reports or proxy statements for the Investment Company, or in sales literature or other promotional material approved by the Investment Company or its designee and by the Distributor or its designee, except with the permission of the Investment Company or its designee and the Distributor or its designee.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.3 The Investment Company or the Distributor or the designee of either shall furnish to the Insurer or its designee, each piece of sales literature or other promotional material in which the Insurer or its Separate Accounts are named at least 15 days prior to the anticipated use of such material, and no such material shall be used unless the Insurer or its designee approves the material or does not respond with comments on the material within 10 days from receipt of the material.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.4 The Investment Company and the Distributor agree that each and the affiliates and agents of each shall not give any information or make any representations on behalf of the Insurer or concerning the Insurer, the Separate Accounts, or the Variable Contracts issued by the Insurer, other than the information or representations contained in a registration statement or prospectus for such Variable Contracts, as such registration statement and prospectus may be amended or supplemented from time to time, or in reports for the Separate Accounts or prepared for distribution to owners of such Variable Contracts, or in sales literature or other promotional material approved by the Insurer or its designee, except with the permission of the Insurer.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.5 The Investment Company will provide to the Insurer at least one complete copy of all prospectuses, Statements of Additional Information, reports, proxy statements and other voting solicitation materials, and all amendments and supplements to any of the above, that relate to the Investment Company or its shares, promptly after the filing of such document with the SEC or other regulatory authorities. Upon Insurer's request, Distributor will provide a copy of the Mixed and Shared Funding Exemptive Application and any amendments thereto.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.6 The Insurer will provide to the Investment Company all prospectuses (which shall include an offering memorandum if the Variable Contracts issued by the Insurer or interests therein are not registered under the 1933 Act), Statements of Additional Information, reports, solicitations for voting instructions relating to the Investment Company, and all amendments or supplements to any of the above that relate to the Variable Contracts issued by the Insurer or the Separate Accounts which utilize the Investment Company as an underlying investment medium, promptly after the filing of such document with the SEC or other regulatory authority.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.7 For purposes of this Article VI, the phrase "sales literature or other promotional material" includes, but is not limited to, advertisements (such as material published, or designed for use on the Internet, in a newspaper, magazine, or other periodical, radio, television, telephone or tape recording, videotape display, signs or billboards, motion pictures, computerized media, or other public media), sales literature *(i.e.,* any written communication distributed or made generally available to customers or the public, including brochures, circulars, research reports, market letters, form letters, seminar texts, reprints or excerpts of any other advertisement, sales literature, or published article), educational or training materials or other communications distributed or made generally available to some or all agents or employees.

ARTICLE VII. <u>Indemnification</u>

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.1 <u>Indemnification by the Insurer</u> 

7.1(a) The Insurer agrees to indemnify and hold harmless each of the Investment Company, any affiliated person of the Investment Company within the meaning of Section 2(a)(3) of the 1940 Act, (other than the Insurer), and the Distributor, and each of their trustees/ directors and officers, and each person, if any, who controls the Investment Company or the Distributor within the meaning of Section 15 of the 1933 Act or who is under common control with the Investment Company or the Distributor (collectively, the "Indemnified Parties" for purposes of this Section 7.1) against any and all losses, claims, damages, liabilities (including amounts paid in settlement with the written consent of the Insurer) or litigation expenses (including legal and other expenses), to which the Indemnified Parties may become subject under any statute or regulation, at common law or otherwise, insofar as such losses, claims, damages, liabilities or litigation expenses are related to the sale or acquisition of the Investment Company's shares or the Variable Contracts issued by the Insurer and:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) arise out of or are based upon any untrue statement or alleged untrue statement of any material fact contained in the registration statement or prospectus (which shall include an offering memorandum) for the Variable Contracts issued by the Insurer or sales literature for such Variable Contracts (or any amendment or supplement to any of the foregoing), or arise out of or are based upon the omission or the alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, provided that this agreement to indemnify shall not apply as to any Indemnified Party if such statement or omission or such alleged statement or omission was made in reliance upon and in conformity with information furnished to the Insurer by or on behalf of the Investment Company for use in the registration statement or prospectus for the Variable Contracts issued by the Insurer or sales literature (or any amendment or supplement) or otherwise for use in connection with the sale of such Variable Contracts or Investment Company shares; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) arise out of or as a result of any statement or representation (other than statements or representations contained in the registration statement, prospectus or sales literature of the Investment Company not supplied by the Insurer or persons under its control) or wrongful conduct of the Insurer or any of its affiliates, employees or agents with respect to the sale or distribution of the Variable Contracts issued by the Insurer or the Investment Company shares; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) arise out of any untrue statement or alleged untrue statement of a material fact contained in a registration statement, prospectus, or sales literature of the Investment Company or any amendment thereof or supplement thereto or the omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading if such a statement or omission was made in reliance upon information furnished to the Investment Company by or on behalf of the Insurer; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iv) arise out of or result from any material breach of any representation and/ or warranty made by the Insurer in this Agreement or arise out of or result from any other material breach of this Agreement by the Insurer;

except to the extent provided in Sections 7.1(b) and 7.1(c) hereof.

7.1(b) The Insurer shall not be liable under this indemnification provision with respect to any losses, claims, damages, liabilities or litigation expenses to which an Indemnified Party would otherwise be subject by reason of willful misfeasance, bad faith, or gross negligence in the performance of the Indemnified Party's duties or by reason of the Indemnified Party's reckless disregard of obligations or duties under this Agreement or to the Investment Company.

7.1(c) The Insurer shall not be liable under this indemnification provision with respect to any claim made against an Indemnified Party unless such Party shall have notified the Insurer in writing within a reasonable time after the summons or other first legal process giving information of the nature of the claim shall have been served upon such Indemnified Party (or after such Party shall have received notice of such service on any designated agent), but failure to notify the Insurer of any such claim shall not relieve the Insurer from any liability which it may have to the Indemnified Party against whom such action is brought otherwise than on account of this indemnification provision. In case any such action is brought against the Indemnified Parties, the Insurer shall be entitled to participate, at its own expense, in the defense of such action. The Insurer also shall be entitled to assume the defense thereof, with counsel satisfactory to the party named in the action. After notice from the Insurer to such party of the Insurer's election to assume the defense thereof, the Indemnified Party shall bear the fees and expenses of any additional counsel retained by it, and the Insurer will not be liable to such party under this Agreement for any legal or other expenses subsequently incurred by such party independently in connection with the defense thereof other than reasonable costs of investigation.

7.1(d) The Indemnified Parties shall promptly notify the Insurer of the commencement of any litigation or proceedings against them in connection with the issuance or sale of the Investment Company shares or the Variable Contracts issued by the Insurer or the operation of the Investment Company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.2 <u>Indemnification By the Distributor</u> 

7.2(a) The Distributor agrees to indemnify and hold harmless the Insurer and its directors and officers and each person, if any, who controls the Insurer within the meaning of Section 15 of the 1933 Act or who is under common control with the Insurer (collectively, the "Indemnified Parties" for purposes of this Section 7.2) against any and all losses, claims, damages, liabilities (including amounts paid in settlement with the written consent of the Distributor) or litigation expenses (including legal and other expenses) to which the Indemnified Parties may become subject under any statute or regulation, at common law or otherwise, insofar as such losses, claims, damages, liabilities or litigation expenses are related to the sale or acquisition of the Investment Company's shares or the Variable Contracts issued by the Insurer and:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) arise out of or are based upon any untrue statement or alleged untrue statement of any material fact contained in the registration statement or prospectus or sales literature of the Investment Company (or any amendment or supplement to any of the foregoing), or arise out of or are based upon the omission or the alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, provided that this agreement to indemnify shall not apply as to any Indemnified Party if such statement or omission or such alleged statement or omission was made in reliance upon and in conformity with information furnished to the Distributor or the Investment Company or the designee of either by or on behalf of the Insurer for use in the registration statement or prospectus for the Investment Company or in sales literature (or any amendment or supplement) or otherwise for use in the registration statement or prospectus for the Investment Company or in sales literature (or any amendment or supplement) or otherwise for use in connection with the sale of the Variable Contracts issued by the Insurer or Investment Company shares; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) arise out of or as a result of any statement or representations (other than statements or representations contained in the registration statement, prospectus or sales literature for the Variable Contracts not supplied by the Distributor or any employees or agents thereof) or wrongful conduct of the Investment Company or Distributor, or the affiliates, employees, or agents of the Investment Company or the Distributor with respect to the sale or distribution of the Variable Contracts issued by the Insurer or Investment Company shares; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) arise out of any untrue statement or alleged untrue statement of a material fact contained in a registration statement, prospectus, or sales literature covering the Variable Contracts issued by the Insurer, or any amendment thereof or supplement thereto, or the omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statement or statements therein not misleading, if such statement or omission was made in reliance upon information furnished to the Insurer by or on behalf of the Investment Company; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iv) arise out of or result from any material breach of any representation and/or warranty made by the Distributor in this Agreement or arise out of or result from any other material breach of this Agreement by the Distributor;

except to the extent provided in Sections 7.2(b) and 7.2(c) hereof.

7.2(b) The Distributor shall not be liable under this indemnification provision with respect to any losses, claims, damages, liabilities or litigation expenses to which an Indemnified Party would otherwise be subject by reason of willful misfeasance, bad faith, or gross negligence in the performance of the Indemnified Party's duties or by reason of the Indemnified Party's reckless disregard of obligations or duties under this Agreement or to the Insurer or the Separate Accounts.

7.2(c) The Distributor shall not be liable under this indemnification provision with respect to any claim made against an Indemnified Party unless such Party shall have notified the Distributor in writing within a reasonable time after the summons or other first legal process giving information of the nature of the claim shall have been served upon such Indemnified Party (or after such Party shall have received notice of such service on any designated agent), but failure to notify the Distributor of any such claim shall not relieve the Distributor from any liability which it may have to the Indemnified Party against whom such action is brought otherwise than on account of this indemnification provision. In case any such action is brought against the Indemnified Parties, the Distributor will be entitled to participate, at is own expense, in the defense thereof. The Distributor also shall be entitled to assume the defense thereof, with counsel satisfactory to the party named in the action. After notice from the Distributor to such party of the Distributor's election to assume the defense thereof, the Indemnified Party shall bear the fees and expenses of any additional counsel retained by it, and the Distributor will not be liable to such party under this Agreement for any legal or other expense subsequently incurred by such party independently in connection with the defense thereof other than reasonable costs of investigation.

7.2(d) The Insurer shall promptly notify the Distributor of the commencement of any litigation or proceedings against it or any of its officers or directors in connection with the issuance or sale of the Variable Contracts issued by the Insurer or the operation of the Separate Accounts.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.3 <u>Indemnification by the Investment Company</u> 

7.3(a) The Investment Company agrees to indemnify and hold harmless the Insurer, and its directors and officers and each person, if any, who controls the Insurer within the meaning of Section 15 of the 1933 Act or who is under common control with the Insurer (collectively, the "Indemnified Parties" for purposes of this Section 7.3) against any and all losses, claims, damages, liabilities (including amounts paid in settlement with the written consent of the Investment Company) or litigation expenses (including legal and other expenses) to which the Indemnified Parties may become subject under any statute or regulation, at common law or otherwise, insofar as such losses, claims, damages, liabilities or litigation expenses are related to the sale or acquisition of the Investment Company's shares or the Variable Contracts issued by the Insurer and arise out of or result from any material breach of any representation and/ or warranty made by the Investment Company in this Agreement or arise out of or result from any other material breach of this Agreement by the Investment Company; except to the extent provided in Sections 7.3(b) and 7.3(c) hereof.

7.3(b) The Investment Company shall not be liable under this indemnification provision with respect to any losses, claims, damages, liabilities or litigation expenses to which an Indemnified Party would otherwise be subject by reason of willful misfeasance, bad faith, or gross negligence in the performance of the Indemnified Party's duties or by reason of the Indemnified Party's reckless disregard of obligations or duties under this Agreement or to the Insurer or the Separate Accounts.

7.3(c) The Investment Company shall not be liable under this indemnification provision with respect to any claim made against an Indemnified Party unless such party shall have notified the Investment Company in writing within a reasonable time after the summons or other first legal process giving information of the nature of the claim shall have been served upon such Indemnified Party (or after such Party shall have received notice of such service on any designated agent), but failure to notify the Investment Company of any such claim shall not relieve the Investment Company from any liability which it may have to the Indemnified Party against whom such action is brought otherwise than on account of this indemnification provision. In case any such action is brought against the Indemnified Parties, the Investment Company will be entitled to participate, at its own expense, in the defense thereof. The Investment Company also shall be entitled to assume the defense thereof, with counsel satisfactory to the party named in the action. After notice from the Investment Company to such party of the Investment Company's election to assume the defense thereof, the Indemnified Party shall bear the fees and expenses of any additional counsel retained by it, and the Investment Company will not be liable to such party under this Agreement for any legal or other expenses subsequently incurred by such party independently in connection with the defense thereof other than reasonable costs of investigation.

7.3(d) The Insurer shall promptly notify the Investment Company of the commencement of any litigation or proceedings against it or any of its officers or directors in connection with the issuance or sale of the Variable Contracts issued by the Insurer or the sale of the Investment Company's shares.

ARTICLE VIII. <u>Applicable Law</u>

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.1 This Agreement shall be construed and the provisions hereof interpreted under and in accordance with the laws of the Commonwealth of Pennsylvania.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.2 This Agreement shall be subject to the provisions of the 1933, 1934, and 1940 Acts, and the rules and regulations and rulings thereunder, including such exemptions from those statutes, rules and regulations as the SEC may grant (including, but not limited to, the Mixed and Shared Funding Exemptive Order), and the terms hereof shall be interpreted and construed in accordance therewith.

ARTICLE IX. <u>Termination</u>

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.1 This Agreement shall terminate:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) at the option of any party upon 180 days advance written notice to the other parties; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) at the option of the Insurer, immediately upon written notice, if shares of the Funds are not reasonably available to meet the requirements of the Variable Contracts issued by the Insurer, as determined by the Insurer, and upon prompt notice by the Insurer to the other parties; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) at the option of the Investment Company or the Distributor, immediately upon written notice, upon institution of formal proceedings against the Insurer or its agent by the FINRA, the SEC, or any state securities or insurance department or any other regulatory body regarding the Insurer's duties under this Agreement or related to the sale of the Variable Contracts issued by the Insurer, the operation of the Separate Accounts, or the purchase of the Investment Company shares; provided, however, that the Investment Company or the Distributor has determined in its sole judgment exercised in good faith, that any such administrative proceedings will have a material adverse effect upon the ability of the Insurer to perform its obligations under this Agreement, including as a result of material adverse publicity, or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) at the option of the Insurer, immediately upon written notice, upon institution of formal proceedings against the Investment Company or the Distributor by the FINRA, the SEC, or any state securities or insurance department or any other regulatory body; provided, however, that the Insurer determined in its sole judgment exercised in good faith, that any such administrative proceedings will have a material adverse effect upon the ability of the Distributor or the Investment Company to perform its obligations under this Agreement, including as a result of material adverse publicity; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) upon requisite vote of the Variable Contract Owners having an interest in the Separate Accounts (or any sub-accounts thereof) to substitute the shares of another investment company for the corresponding shares of the Investment Company or a Fund in accordance with the terms of the Variable Contracts for which those shares had been selected or serve as the underlying investment media; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) at the option of any party to the Agreement, immediately upon written notice, in the event any of the shares of a Fund are not registered, issued or sold in accordance with applicable state and/or federal law, or such law precludes the use of such shares as the underlying investment media of the Variable Contracts issued or to be issued by the Insurer; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g) at the option of any party to the Agreement, immediately upon written notice, in the event of a determination by a majority of the Trustees of the Investment Company, or a majority of its disinterested Trustees, that an irreconcilable conflict, as described in Article IV hereof, exists; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h) at the option of the Insurer, immediately upon written notice, if the Investment Company or a Fund fails to meet the requirements under Subchapter M of the Code for qualification as a Regulated Investment Company specified in Section 3.2 hereof or the diversification requirements specified in Section 3.3 hereof; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) at the option of the Investment Company or the Distributor, immediately upon written notice, in the event that any or all Variable Contracts fail to meet the qualifications specified in Sections 3.4 and 3.5 hereof; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(j) at the option of the Investment Company or the Distributor, upon 30 days' written notice, if the Investment Company or the Distributor shall determine, in its sole judgment exercised in good faith, that the Insurer has suffered a material adverse change in its business operations, financial condition, or prospects since the date of this Agreement or is subject of material adverse publicity; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(k) at the option of the Insurer, upon 30 days' written notice, if the Insurer shall determine, in its sole judgment exercised in good faith, that the Investment Company or the Distributor has suffered a material adverse change in its business operations, financial condition, or prospects since the date of this Agreement or is the subject of material adverse publicity; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(l) at the option of the Insurer upon the Investment Company's or Distributor's material breach of any provision of this Agreement, upon 30 days' written notice and the opportunity to cure within such notice period; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(m) at the option of the Investment Company or the Distributor upon the Insurer's material breach of any provision of this Agreement, upon 30 days' written notice and the opportunity to cure within such notice period; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(n) at the option of any party to the Agreement, immediately upon written notice, if the Board of Trustees of the Investment Company has decided to (i) refuse to sell shares of any Fund to the Insurer and/ or any of its Separate Accounts; (ii) suspend or terminate the offering of shares of any Fund; or (iii) dissolve or liquidate the Investment Company or any Fund.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.2 Each party to this Agreement shall promptly notify the other parties to the Agreement of the institution against such party of any such formal proceedings as described in Sections 9.1(c) and (d) hereof. The Insurer shall give 60 days prior written notice to the Investment Company of the date of any proposed vote of Variable Contract Owners to replace the Investment Company's shares as described in Section 9.l(e) hereof.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.3 The Investment Company and the Distributor acknowledge that the Insurer may have the right to substitute shares of other securities for shares of the Funds under certain circumstances. The Insurer agrees not to exercise this right until after at least 60 days' written notice to the Investment Company and the Distributor. In the event that the Insurer exercises its right to substitute shares of other securities for shares of the Funds, the Insurer shall furnish, or shall cause to be furnished, to the Investment Company and the Distributor, or their designees, any application for an order seeking approval of the substitution or any other written material related to such substitution, including the notice of the substitution to be sent to Variable Contract Owners, at least 15 days prior to the filing or delivery of such application or written material with the SEC or any other regulatory body or entity or to Variable Contract Owners. If, in any such application or other written material, the Investment Company (or any Fund thereof) or its investment adviser or the Distributor is named, no such application or other written material shall be filed or delivered unless the Investment Company and the Distributor, or the designee of either, approve the material (such approval not to be unreasonably withheld) or do not respond with comments on the material within 10 days from receipt of the material.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.4 (a) Notwithstanding any termination of this Agreement, and except as provided in Sections 9.4(b) and 9.5, the Investment Company and the Distributor shall, at the option of the Insurer, continue to make available additional shares of the Investment Company pursuant to the terms and conditions of this Agreement, for all Variable Contracts in effect on the effective date of termination of this Agreement (hereinafter referred to as "Existing Contracts"). Specifically, based on instructions from the owners of the Existing Contracts, the Separate Accounts shall be permitted to reallocate investments in the Funds of the Investment Company and redeem investments in the Funds, and shall be permitted to invest in the Funds in the event that owners of the Existing Contracts make additional premium payments under the Existing Contracts.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Insurer agrees, promptly after any termination of this Agreement pursuant to Sections 9.1(c), (f), (j), (m) or (n), to take all steps necessary to redeem the investment of the Separate Accounts in the Funds within one year from the date of termination of the Agreement as provided in Article IX. Such steps shall include, but not be limited to, obtaining an order pursuant to Section 26(c) of the 1940 Act to permit the substitution of other securities for the shares of the Funds. The Investment Company or the Distributor may, in their discretion, permit the Separate Accounts to continue to invest in the Funds beyond such one year anniversary for an additional year beginning on the first annual anniversary of the date of termination, and from year to year thereafter; provided that the Investment Company or the Distributor agrees in writing to permit the Separate Accounts to continue to invest in the Funds prior to the beginning of any such year.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.5 In the event (a) the Agreement is terminated pursuant to Sections 9.1 (g) or (i), at the option of the Investment Company or the Distributor; or (b) the one year anniversary of the termination of the Agreement is reached or, after waiver as provided in Section 9.4(b), such subsequent anniversary is reached (each of (a) and (b) referred to as a "triggering event" and the date of termination as provided in (a) or the date of the anniversary as provided in (b) referred to as the "request date"), the parties agree that such triggering event shall be considered as a request for immediate redemption of shares of the Funds held by the Separate Accounts, received by the Investment Company as of the request date, and the Investment Company agrees to process such redemption request in accordance with the 1940 Act and the regulations thereunder and the Investment Company's registration statement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.6 If this Agreement terminates, the parties agree that Article VII and Sections 3.10, 8.1 and 8.2, and, to the extent that all or a portion of the assets of the Separate Accounts continue to be invested in the Investment Company or any Fund of the Investment Company, Articles I, IT, III, and IV and Sections 5.6, 5.7 and 5.8 will remain in effect after termination.

ARTICLE X. <u>Notices</u>

Any notice shall be sufficiently given when sent by registered or certified mail to the other party at the address of such party set forth below or at such other address as such party may from time to time specify in writing to the other party.

If to the Investment Company:

Insurance Series

5800 Corporate Drive

Pittsburgh, Pennsylvania 15237

Attn.: John W. McGonigle

If to the Distributor:

Federated Securities Corp.

Federated Investors Tower

1001 Liberty Avenue

Pittsburgh, Pennsylvania 15222-3779

Attn.: John W. McGonigle

If to Contract Administration:

Contract Administration

Federated Investors

5800 Corporate Drive - Building 2

Pittsburgh, Pennsylvania 15237

If to the Insurer:

The Ohio National Life Insurance Company

One Financial Way

Cincinnati, Ohio 45242

Attn: General Counsel

ARTICLE XI: <u>Miscellaneous</u>

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11.1 A copy of the Investment Company's Declaration of Trust is on file with the Secretary of the Commonwealth of Massachusetts and notice is hereby given that any agreements that are executed on behalf of the Investment Company by any Trustee or officer of the Investment Company are executed in his or her capacity as Trustee or officer and not individually. The obligations of this Agreement shall only be binding upon the assets and property of the Investment Company and shall not be binding upon any Trustee, officer or shareholder of the Investment Company individually. No Fund shall be liable for any obligations properly attributable to any other Fund.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11.2 Nothing in this Agreement shall impede the Investment Company's Trustees or shareholders of the shares of the Investment Company's Funds from exercising any of the rights provided to such Trustees or shareholders in the Investment Company's Declaration of Trust, as amended, a copy of which will be provided to the Insurer upon request.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11.3 Administrative services to Variable Contract Owners shall be the responsibility of Insurer. Insurer, on behalf of its separate accounts will be the sole shareholder of record of Investment Company shares. Investment Company and Distributor recognize that they will derive a substantial savings in administrative expense by virtue of having a sole shareholder rather than multiple shareholders. In consideration of the administrative savings resulting from having a sole shareholder rather than multiple shareholders, with respect to share held in sub-accounts for which Insurer provides administrative services, Distributor agrees to pay to Insurer an amount computed at an annual rate equal to the percentage of average daily net asset value set forth in Exhibit C to this Agreement. These payments to Insurer are for administrative services only and do not constitute payment in any manner for any other service. Insurer agrees to disclose the receipt of administrative fees pursuant to this Agreement to Variable Contract Owners to the extent required by law.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11.4 The Investment Company reserves the right, upon written notice to the Insurer (given at the earliest practicable time), to take all actions, including, but not limited to, the dissolution, reorganization, liquidation, merger or sale of all assets of the Investment Company or any Fund upon the sole authorization of the Board of Trustees, acting in good faith.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11.5 It is understood that the name "Federated" or any derivative thereof or logo associated with that name is the valuable property of the Distributor and its affiliates, and that the Insurer has the right to use such name (or derivative or logo) only so long as this Agreement is in effect, except as otherwise provided in separate agreements between Insurer and affiliates of Distributor. Upon termination of this Agreement the Insurer shall forthwith cease to use such name (or derivative or logo).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11.6 The captions in this Agreement are included for convenience of reference only and in no way define or delineate any of the provisions hereof or otherwise affect their construction or effect.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11.7 This Agreement may be executed simultaneously in two or more counterparts, each of which taken together shall constitute one and the same instrument.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11.8 If any provision of this Agreement shall be held or made invalid by a court decision, statute, rule or otherwise, the remainder of the Agreement shall not be affected thereby.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11.9 This Agreement may not be assigned by any party to the Agreement except with the written consent of the other parties to the Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11.10 Except as provided in this paragraph 11.10, this Agreement may be amended only by a writing signed by both parties. Distributor may amend Exhibit C from time to time by posting an amended Exhibit Con Distributor's website. Any such amendment shall be effective as of the date indicated on the amended Exhibit C. Insurer may amend Exhibit A by mailing the amended Exhibit A to Federated Contract Administration at the address set forth above. Any such amendment shall be effective as of the earlier of (a) its receipt by Distributor or (b) the date indicated on the amended Exhibit A.

IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be duly executed as of the day and year first above written.

---

| | | | |
|:---|:---|:---|:---|
|  |  | FEDERATED INSURANCE SERIES | FEDERATED INSURANCE SERIES |
| ATTEST: | | BY: | |
| Name: | | Name: | |
| Title: | | Title: | |
|  |  | FEDERATED SECURITIES CORP. | FEDERATED SECURITIES CORP. |
| ATTEST: | | BY: | |
| Name: | | Name: | |
| Title: | | Title: | |
|  |  | THE OHIO NATIONAL INSURANCE COMPANY | THE OHIO NATIONAL INSURANCE COMPANY |
| ATTEST: | /s/ Joseph M. Fischer | BY: | /s/ Thamas A. Barefield |
| Name: | Joseph M. Fischer | Name: | Thamas A. Barefield |
| Title: | Assistant Secretary | Title: | Executive Vice President |

---

IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be duly executed as of the day and year first above written.

---

| | | |
|:---|:---|:---|
|  | FEDERATED INSURANCE SERIES | FEDERATED INSURANCE SERIES |
| ATTEST: | BY: | /s/ John B. Fisher |
| Name: | Name: | John B. Fisher |
| Title: | Title: | President |

---

---

| | | |
|:---|:---|:---|
|  | FEDERATED SECURITIES CORP. | FEDERATED SECURITIES CORP. |
| ATTEST: | BY: | /s/ Charles L. Davis, Jr. |
| Name: | Name: | Charles L. Davis, Jr. |
| Title: | Title: | Senior Vice President |

---

---

| | |
|:---|:---|
|  | THE OHIO NATIONAL INSURANCE COMPANY |
| ATTEST: | BY: |
| Name: | Name: |
| Title: | Title: |

---

**Exhibit A**

**INSURER SEPARATE ACCOUNTS**

Ohio National Variable Account A

Ohio National Variable Account B

Ohio National Variable Account C

Ohio National Variable Account D

**Exhibit B**

**OPERATIONAL PROCEDURES**

(a) Insurer shall, on behalf of the Investment Company, receive instructions from the Separate Accounts for acceptance prior to the Close of Trading on each Business Day. Insurer shall, upon its acceptance of any such instructions, communicate such acceptance to the Separate Accounts.

(b) Insurer or its designee shall communicate to Investment Company, by means of electronic transmission or other mutually acceptable means, a report of Insurer's trading activity in each of the Funds for the most recent Business Day in accordance with each Fund's prospectus. However, if Insurer will be communicating such information after the Close of Trading, then the Insurer shall be considered the Investment Company's agent for purposes of Rule 22c-1 of the Investment Company Act of 1940, as amended. To the extent that each of the parties is a member of, and/or has access to, the National Securities Clearing Corporation's ("NSCC") systems and services, including Fund/SERV and Networking, the parties agree to utilize such services for all transactions contemplated hereunder and agree that all such dealings and transactions shall be processed in accordance with, and governed by, the NSCC's Rules and Procedures (as the same may be amended from time to time) and the Networking Agreement executed by each such party. In the event of the unavailability of the NSCC at any time, the following procedures shall apply:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) The Investment Company shall use its best efforts to provide information listed in Sections 1.9 and 1.10 of the Agreement to Insurer by means of electronic transmission or other mutually acceptable means by 7:00 p.m. Eastern Time on each Business Day.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) Insurer or its designee shall communicate to the Investment Company, by means of electronic transmission or other mutually acceptable means, a report of Insurer's trading activity in each of the Funds for the most recent Business Day ("Trade Date") by 9:00 a.m. Eastern Time on the Business Day following the Trade Date ("Settlement Date"). The number of shares to be purchased or redeemed shall be determined based upon the net asset value at the Close of Trading on the Trade Date, provided that, if the Fund receives the trading information called for by this sub-paragraph after 9:00 a.m. Eastern Time on a Settlement Date, the Investment Company shall use its best efforts to enter the Insurer's purchase or redemption order at the net asset value at the Close of Trading on the Trade Date, but if Investment Company is unable to do so, the transaction shall be entered at the net asset value next determined after the Investment Company receives the trading information.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) In the event there is a net purchase in any Fund, Insurer or its designee shall exercise its best efforts to direct wire payment in the dollar amount of the net purchase to be received by the Investment Company by the close of the Federal Reserve Wire Transfer System on the Settlement Date. If the wire is not received by the Investment Company *by* such time, and such delay was not caused by the negligence or willful misconduct of the Investment Company, the Investment Company shall be entitled to receive from Insurer the dollar amount of any overdraft plus any associated bank charges incurred.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iv) In the event there is a net redemption in any Fund, the Investment Company shall wire the redemption proceeds to the Insurer's custodial account, or to the designated depository for the Insurer, specified by Insurer or its designee. If the Investment Company receives the redemption information by 9:00 a.m. Eastern Time on the Settlement Date, the redemption proceeds shall be wired so as to be received on the Settlement Date. If the Investment Company receives the redemption information after that time, the Investment Company shall use its best efforts to wire the redemption proceeds so that they are received by the Close of Trading on the Settlement Date, but if the Investment Company is unable to do so, the redemption proceeds shall be wired so as to be received by the Close of Trading on the Business Day following the Settlement Date. If the wire is not received by the time specified in this sub-paragraph, and such delay was not caused by the negligence or willful misconduct of Insurer or its designee, Insurer or Insurer's designee shall be entitled to receive from the Investment Company the dollar amount of any overdraft plus any associated bank charges incurred; provided, however, that if the delay was due to factors beyond the control of the Investment Company and its subsidiaries, the Investment Company shall not be liable for any overdraft or any associated bank charges incurred.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(v) IF the dollar amount of the redemption proceeds wired by the Investment Company exceeds the amount that should have been transmitted, Insurer shall use its best efforts to have such excess amount returned to the Investment Company as soon as possible.

(c) All wire payments referenced in this Agreement shall be transmitted via the Federal Reserve Wire Transfer System. Notwithstanding any other provision of this Agreement, in the event that the Federal Reserve Wire Transfer System is closed on any Business Day, the duties of the Investment Company, Insurer, and their designees under this Agreement shall be suspended, and shall resume on the next Business Day that the Federal Reserve Wire Transfer System is open as if such period of suspension had not occurred.

(d) In the event (1) a Fund is required (under the then prevailing pricing error guidelines of the Investment Company) to recalculate purchases and redemptions of Shares held in Insurer's account due to an error in calculating the net asset value of such class of Shares (a "NAV Error") or (2) there is a dividend rate error with respect to any Fund held in Insurer's account (a "Rate Error"; Rate Error and NAV Error individually and collectively shall be referred to as a "Pricing Error"):

The Investment Company shall promptly notify Insurer in writing of the Pricing Error, which written notice shall identify the class of Shares, the Business Day(s) on which the Pricing Error(s) occurred and the corrected net asset value of the Shares on each Business Day.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) Upon such notification, Insurer shall promptly determine, for all Separate Accounts which purchased or redeemed Shares on each Business Day on which a Pricing Error occurred, the correct number of Shares purchased or redeemed using the corrected price and the amount of transaction proceeds actually paid or received. Following such determination, the Insurer shall adjust the number of Shares held in each Separate Account to the extent necessary to reflect the correct number of Shares purchased or redeemed for the Separate Account. Following such determination, Insurer shall notify the Fund of the net changes in transactions for the relevant Separate Account and the Fund shall adjust the Separate Account accordingly.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) If, after taking into account the adjustments required by subparagraph (d)(ii), Insurer determines that some Separate Account customers were still entitled to additional redemption proceeds (a "Redemption Shortfall"), it shall notify the Investment Company of the aggregate amount of the Redemption Shortfalls and provide supporting documentation for such amount. Upon receipt of such documentation, the Investment Company shall cause the relevant Fund to remit to Insurer additional redemption proceeds in the amount of such Redemption Shortfalls and Insurer shall apply such funds to payment of the Redemption Shortfalls.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iv) If, after taking into account the adjustments required by subparagraph (d)(ii), Insurer determines that a Separate Account customer still received excess redemption proceeds (a "Redemption Overage"), Insurer shall use its best efforts to collect the balance of such Redemption Overage from such Separate Account. In no event, however, shall Insurer be liable to the Investment Company or any Fund for any Redemption Overage. Nothing in this subparagraph (d) shall be deemed to limit the right of any Fund to recover any Redemption Overage directly or to be indemnified by any party for losses arising from a Pricing Error.

**Exhibit C To**

**Fund Participation Agreement**

**As of November 1, 2007**

The following lists the Funds and Shares subject to the Fund Participation Agreement and the compensation payable to Insurer pursuant to the Fund Participation Agreement. Administrative Service Fees are paid at an annual rate on the average net asset value of shares held in Fund accounts attributed to Insurer pursuant to the Fund Participation Agreement, so long as the average net asset value of shares in any such Fund accounts during the period is at least $100,000, except as otherwise noted herein. A Fund marked with an asterisk (\*) does not offer separate classes of shares but is subject to the same fee rates listed for the class that the Fund is grouped under. Each Fund's prospectus shall control in case of any conflict with this Schedule.

*<u>Class P Shares</u>*

---

| | |
|:---|:---|
| **Administrative Service Fee** **:** | **0.25%** |

---

---

| | |
|:---|:---|
| **Fund Name** | **Series** |
| Federated Insurance Series | Federated American Leaders Fund II |
|  | Federated Capital Appreciation Fund II |
|  | Federated Capital Income Fund II \* |
|  | Federated Equity Income Fund II \* |
|  | Federated Fund for U.S. Government Securities II \* |
|  | Federated High Income Bond Fund II |
|  | Federated Kaufmann Fund II |
|  | Federated Mid Cap Growth Strategies Fund II \* |
|  | Federated Prime Money Fund II \* |
|  | Federated Quality Bond Fund II |
|  | Federated Total Return Bond Fund II \* |

---

*<u>Class SS Shares</u>*

---

| | |
|:---|:---|
| **Administrative Service Fee** **:** | **0.25%** |

---

---

| | |
|:---|:---|
| **Fund Name** | **Series** |
| Federated Insurance Series | Federated American Leaders Fund II |
| | Federated Capital Appreciation Fund II |
| | Federated High Income Bond Fund II |
| | Federated Kaufmann Fund II |
| | Federated Market Opportunity Fund II |
| | Federated Quality Bond Fund II |

---

## Exhibit 99.30

**AMENDMENT TO**

**FUND PARTICIPATION AGREEMENT** 

**AMONG** 

**FEDERATED SECURITIES CORP., FEDERATED INSURANCE SERIES, AND**

**THE OHIO NATIONAL LIFE INSURANCE COMPANY**

For good and valuable consideration, the receipt of which is hereby acknowledged, the parties agree to amend the Fund Participation Agreement, dated May 1, 2008 (the "Agreement"), among Federated Securities Corp., Federated Insurance Series and The Ohio National Life Insurance Company as follows, effective as of May 1, 2009.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. The parties hereby agree to add Ohio National Life Assurance Corporation as a party to the Agreement. Ohio National Life Assurance Corporation hereby accepts all of the rights and responsibilities under the Agreement that are attributed to the "Insurer."

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. The defined term "Insurer" as used in the Agreement is hereby amended to include Ohio National Life Assurance Corporation.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3. Sections 3. 13 (a) and 3.13 (b) are hereby deleted and replaced in their entirety with the following:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Insurer agrees, if requested to do so by Distributor, to (i) provide specific shareholder level information, including transaction details by Fund, by shareholder (using the Taxpayer Identification Number of all customers who purchased, redeemed, transferred or exchanged Shares held in a Separate Account), such as the amount and dates of such shareholder purchases, redemptions, transfers and exchanges and (ii) as soon as reasonably practicable and not later than five business days after receipt, execute any instructions from Distributor or any Fund to restrict or prohibit further purchases or exchanges of Fund Shares by a shareholder who has been identified by such Fund as having engaged in transactions of Fund Shares (directly or through the shareholder's contract) that violate policies established by Distributor or such Fund for the purpose of eliminating or reducing any dilution of the value of the outstanding Shares issued by such Fund. Insurer agrees to provide written confirmation to Distributor, as soon as reasonably practicable, but not later than ten business days after the instructions have been executed, that instructions from Distributor to restrict or prohibit trading have been executed. Such information would be used solely to comply with Distributor's market timing policies, applicable laws and requests from regulatory authorities.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4. Article X is hereby deleted and replaced in its entirety with the following:

Any notice shall be sufficiently given when sent by registered or certified mail to the other party at the address of such party set forth below or at such other address as such party may from time to time specify in writing to the other party.

If to the Investment Company:

Federated Insurance Series<br> 4000 Ericsson Drive

Warrendale, PA 15086-7561<br> Attn: John W. McGonigle

If to the Distributor:

Federated Securities Corp.<br> Federated Investors Tower<br> 1001 Liberty Avenue

Pittsburgh, PA 15222-3779<br> Attn: John W. McGonigle

If to Contract Administration:

Contract Administration<br> Federated Investors<br> 4000 Ericsson Drive<br> Warrendale, PA 15086-7561

If to The Ohio National Life Insurance Company:

The Ohio National Life Insurance Company

One Financial Way

Cincinnati, Ohio 45242

Attn: General Counsel

If to Ohio National Life Assurance Corporation:

The Ohio National Life Insurance Company

One Financial Way

Cincinnati, Ohio 45242

Attn: General Counsel

Except as provided herein, the Agreement shall remain in full force and effect. This Amendment and the Agreement, as amended, constitute the entire agreement between the parties hereto pertaining to the subject matter hereof and fully supersedes any and all prior agreements or understandings between the parties hereto pertaining to the subject matter hereof. In the event of any conflict between the terms of this Amendment and the Agreement, the terms of this Amendment shall control.

IN WITNESS WHEREOF, each of the parties hereto has caused this Amendment to be executed in its name and on its behalf by its duly authorized representative as of this date, May 1, 2009.

---

| | |
|:---|:---|
| FEDERATED SECURITIES CORP | FEDERATED SECURITIES CORP |
| By: | /s/ Thomas E. Tellie |
| Name: | Thomas E. Tellie |
| Title: | President |
| FEDERATED INSURANCE SERIES | FEDERATED INSURANCE SERIES |
| By: | /s/ John W. McGorigle |
| Name: | John W. McGorigle |
| Title: | EVP |
| THE OHIO NATIONAL LIFE INSURANCE COMPANY | THE OHIO NATIONAL LIFE INSURANCE COMPANY |
| By: | /s/ Thomas A. Barefield |
| Name: | Thomas A. Barefield |
| Title: | EVP |
| OHIO NATIONAL LIFE ASSURANCE CORPORATION | OHIO NATIONAL LIFE ASSURANCE CORPORATION |
| By: | /s/ Thomas A. Barefield |
| Name: | Thomas A. Barefield |
| Title: | EVP |

---

## Exhibit 99.30

<u>AMENDED AND RESTATED</u>

<u>PARTICIPATION AGREEMENT</u>

Among

<u>VARIABLE INSURANCE PRODUCTS FUNDS</u>,

<u>FIDELITY DISTRIBUTORS CORPORATION</u>

and

<u>THE OHIO NATIONAL LIFE INSURANCE COMPANY</u>

THIS AMENDED AND RESTATED AGREEMENT, made and entered into as of the 24th day of April, 2008 by and among THE OHIO NATIONAL LIFE INSURANCE COMPANY, (hereinafter "Company"), an Ohio corporation, on its own behalf and on behalf of each segregated asset account of the Company set forth on Schedule A hereto as may be amended from time to time (each such account hereinafter referred to as the "Account"); and FIDELITY DISTRIBUTORS CORPORATION (hereinafter the "Underwriter"), a Massachusetts corporation; and each of VARIABLE INSURANCE PRODUCTS FUND, VARIABLE INSURANCE PRODUCTS FUND II, VARIABLE INSURANCE PRODUCTS FUND III and VARIABLE INSURANCE PRODUCTS FUND IV and VARIABLE INSURANCE PRODUCTS FUND V each an unincorporated business trust organized under the laws of the Commonwealth of Massachusetts (each referred to hereinafter as the "Fund").

<u>RECITALS</u>

WHEREAS, each Fund engages in business as an open-end management investment company and is available to act as the investment vehicle for separate accounts established for variable life insurance policies and variable annuity contracts (collectively, the "Variable Insurance Products") and qualified pension and retirement plans within the meaning of Treasury Regulation section 1.817-5(0(3)(iii) ("Qualified Plans") to be offered by insurance companies which have entered into participation agreements with the Fund and the Underwriter (hereinafter "Participating Insurance Companies"); and

WHEREAS. the beneficial interest in each Fund is divided into several series of shares, each representing the interest in a particular managed portfolio of securities and other assets, any one or more of which may be made available under this Agreement, as may be amended from time to time by mutual agreement of the parties hereto (each such series hereinafter referred to as a "Portfolio"); and

WHEREAS, each Fund has obtained an order from the Securities and Exchange Commission. dated October 15, 1985 (File No. 812-6102) or September 17. 1986 (File No. 812-6422). granting Participating Insurance Companies and variable annuity and variable life insurance separate accounts exemptions from the provisions of sections 9(a). 13(a). 15(a), and 15(b) of the Investment Company Act of 1940. as amended, (hereinafter the "1940 Act") and Rules 6e-2(b) (15) and 6e-3(T) (b) (15) thereunder, to the extent necessary to permit shares of the Fund to be sold to and held by variable annuity and variable life insurance separate accounts of both affiliated and unaffiliated life insurance companies (hereinafter the "Shared Funding Exemptive Order"); and

WHEREAS, each Fund is registered as an open-end management investment company under the 1940 Act and its shares are registered under the Securities Act of 1933. as amended (hereinafter the "1933 Act"); and

WHEREAS, Fidelity Management & Research Company (the "Adviser") is duly registered as an investment adviser under the federal Investment Advisers Act of 1940 and any applicable state securities law; and

WHEREAS. the variable life insurance and/or variable annuity products identified on Schedule A hereto ("Contracts") have been or will be registered by the Company under the 1933 Act, unless such Contracts are exempt from registration thereunder; and

WHEREAS, each Account is a duly organized. validly existing segregated asset account, established by resolution of the Board of Directors of the Company, on the date shown for such Account on Schedule A hereto. to set aside and invest assets attributable to the aforesaid Contracts; and

WHEREAS. the Company has registered or will register each Account as a unit investment trust under the 1940 Act. unless such Account is exempt from registration thereunder; and

WHEREAS, the Underwriter is registered as a broker dealer with the Securities and Exchange Commission ("SEC") under the Securities Exchange Act of 1934. as amended, (hereinafter the "1934 Act"), and is a member in good standing of the Financial Industry Regulatory Authority (hereinafter "FINRA"); and

WHEREAS, to the extent permitted by applicable insurance laws and regulations. the Company intends to purchase shares in the Portfolios on behalf of each Account to fund certain of the aforesaid Contracts and the Underwriter is authorized to sell such shares to each Account at net asset value;

<u>AGREEMENT</u>

NOW, THEREFORE, in consideration of their mutual promises. the Company, the Underwriter and each Fund agree as follows:

ARTICLE A. <u>Amendment and Restatement; Form of Agreement</u>

This agreement shall amend and supersede the following Agreements as of the date stated above among the Funds, Underwriter and Company with respect to all investments by the Company or its separate accounts in each Fund prior to the date of this Agreement, as though identical separate agreements had been executed by the parties hereto on the dates as indicated below.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. Participation Agreement dated May 1, 2000 among Company, Underwriter and Variable Insurance Product Fund I.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. Participation Agreement dated May 1, 2000 among Company, Underwriter and Variable Insurance Product Fund II.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3. Participation Agreement dated May l, 2000 among Company. Underwriter and Variable Insurance Product Fund III.

In addition, the parties hereby amend and restate their agreements herein.

Although the parties have executed this Agreement in the form of a Master Participation Agreement for administrative convenience, this Agreement shall create a separate participation agreement for each Fund, as though the Company and the Underwriter had executed a separate, identical form of participation agreement with each Fund. No rights, responsibilities or liabilities of any Fund shall be attributed to any other Fund.

ARTICLE I. <u>Sale of Fund Shares</u>

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.1. The Underwriter agrees to sell to the Company those shares of the Fund which each Account orders, executing such orders on a daily basis at the net asset value next computed after receipt by the Fund or its designee of the order for the shares of the Fund. For purposes of this Section 1.1, the Company shall be the designee of the Fund for receipt of such orders from each Account and receipt by such designee shall constitute receipt by the Fund; provided that the Fund receives notice of such order by 9:00a.m. Boston time on the next following Business Day. "Business Day" shall mean any day on which the New York Stock Exchange is open for trading and on which the Fund calculates its net asset value pursuant to the rules of the Securities and Exchange Commission.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.2. The Fund agrees to make its shares available indefinitely for purchase at the applicable net asset value per share by the Company and its Accounts on those days on which the Fund calculates its net asset value pursuant to rules of the Securities and Exchange Commission and the Fund shall use reasonable efforts to calculate such net asset value on each day which the New York Stock Exchange is open for trading. Notwithstanding the foregoing. the Board of Trustees of the Fund (hereinafter the "Board") may refuse to sell shares of any Portfolio to any person, or suspend or terminate the offering of shares of any Portfolio if such action is required by law or by regulatory authorities having jurisdiction or is, in the sole discretion of the Board acting in good faith and in 1ight of their fiduciary duties under federal and any applicable state laws, necessary in the best interests of the shareholders of such Portfolio.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.3. The Fund and the Underwriter agree that shares of the Fund will be sold only to Participating Insurance Companies and their separate accounts and Qualified Plans. No shares of any Portfolio will be sold to the general public.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.4. The Fund and the Underwriter will not sell Fund shares to any insurance company, separate account or Qualified Plan unless an agreement containing provisions substantially the same as Articles I, III, V, VII and Section 2.5 of Article II of this Agreement is in effect to govern such sales.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.5. The Fund agrees to redeem for cash, on the Company's request. any full or fractional shares of the Fund held by the Company. executing such requests on a daily basis at the net asset value next computed after receipt by the Fund or its designee of the request for redemption. For purposes of this Section 1.5, the Company shall be the designee of the Fund for receipt of requests for redemption from each Account and receipt by such designee shall constitute receipt by the Fund; provided that the Fund receives notice of such request for redemption on the next following Business Day. This section shall not apply to VIP Fund shares or share classes that are subject to redemption fees. The Company shall not purchase or redeem VIP Fund shares that are subject to redemption fees, including shares of Portfolios or share classes that later become subject to redemption fees, in the absence of an additional written agreement signed by all parties.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.6. The Company agrees that purchases and redemptions of Portfolio shares offered by the then current prospectus of the Fund shall be made in accordance with the provisions of such prospectus.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.7. The Company shall pay for Fund shares on the next Business Day after an order to purchase Fund shares is made in accordance with the provisions of Section 1.1 hereof. Payment shall be in federal funds transmitted by wire. For purpose of Section 2.10 and 2.11, upon receipt by the Fund of the federal funds so wired. such funds shall cease to be the responsibility of the Company and shall become the responsibility of the Fund.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.8. Issuance and transfer of the Fund's shares will be by book entry only. Stock certificates will not be issued to the Company or any Account. Shares ordered from the Fund will be recorded in an appropriate title for each Account or the appropriate subaccount of each Account.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.9. The Fund shall furnish same day notice (by wire or telephone. followed by written confirmation) to the Company of any income, dividends or capital gain distributions payable on the Fund's shares. The Company hereby elects to receive all such income dividends and capital gain distributions as are payable on the Portfolio shares in additional shares of that Portfolio. The Company reserves the right to revoke this election and to receive all such income dividends and capital gain distributions in cash. The Fund shall notify the Company of the number of shares so issued as payment of such dividends and distributions.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.10. The Fund shall make the net asset value per share for each Portfolio available to the Company on a daily basis as soon as reasonably practical after the net asset value per share is calculated (normally by 6:30 p.m. Boston time) and shall use its best efforts to make such net asset value per share available by 7 p.m. Boston time.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.11. The parties agree that the Contracts are not intended to serve as vehicles for frequent transfers among the Portfolios in response to short-term stock market fluctuations.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;A. Accordingly, the Company represents and warrants that:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) all purchase and redemption orders it provides under this Article I shall result solely from Contract Owner transactions fully received and recorded by the Company before the time as of which each applicable VIP Portfolio net asset value was calculated (currently 4:00 p.m. e.s.t);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) it will comply with its policies and procedures designed to prevent excessive trading as approved by the Fund, or will comply with the Fund's policies and procedures regarding excessive trading as set forth in the Fund's prospectus;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) any annuity contract forms or variable life insurance policy forms not in use at the time of execution of this Agreement, but added to in the future via amendment of Schedule A hereto, will contain language reserving to the Company the right to refuse to accept instructions from persons that engage in market timing or other excessive or disruptive trading activity.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.12. &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;A. Company agrees to comply with its obligations under applicable anti-money laundering ("AML") laws, rules and regulations, including but not limited to its obligations under the United States Bank Secrecy Act of 1970, as amended (by the USA PATRIOT Act of 2001 and other laws), and the rules, regulations and official guidance issued thereunder (collectively, the "BSA").

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;B. The Company agrees to undertake inquiry and due diligence regarding the customers to whom the Company offers and/or sells Portfolio shares or on whose behalf the Company purchases Portfolio shares and that the inquiry and due diligence is reasonably designed to determine that the Company is not prohibited from dealing with any such customer by (i) any sanction administered by the Office of Foreign Assets Control ("OFAC") of the U.S. Department of the Treasury (collectively, the "Sanctions"); or (ii) any of the Special Measures.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;C. The Company hereby represents, covenants and warrants to the Fund and the Underwriter that:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) None of the Company's employees who are authorized in connection with their employment to transact business with the Fund or Underwriter
in accounts in the Company's name, in any nominee name maintained for the Company, or for which the Company serves as financial
institution of record are designated or targeted under any of the Sanctions or Special Measures and that no transactions placed in any
such accounts by any of the Company's authorized employees will contravene any of the Sanctions or Special Measures;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) As the Sanctions or Special Measures are updated, the Company shall periodically review them to confirm
that none of the Company's employees that are authorized to transact business with the Fund or Underwriter are designated or targeted
under any of the Sanctions or Special Measures; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) The Company, including any of the Company's affiliates, does not maintain offices in any country or territory to which any of
the Sanctions or Special Measures prohibit the export of services or other dealings.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;D. The Company agrees to notify the Fund and the Underwriter or the Portfolios' transfer agent promptly when and if it learns that the establishment or maintenance of any account holding, or transaction in or relationship with a holder of, Portfolio shares pursuant to this Agreement violates or appears to violate any of the Sanctions or Special Measures.

ARTICLE II. <u>Representations and Warranties</u>

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.1. The Company represents and warrants that the Contracts are or will be registered under the 1933 Act or are exempt from registration thereunder; that the Contracts will be issued and sold in compliance in all material respects with all applicable Federal and State laws and that the sale of the Contracts shall comply in all material respects with state insurance suitability requirements. 1 The Company further represents and warrants that it is an insurance company duly organized and in good standing under applicable law and that it has legally and validly established each Account prior to any issuance or sale thereof as a segregated asset account under Section 3907.15 of the Ohio Insurance Code and that each Account is either registered or exempt from registration as a unit investment trust in accordance with the provisions of the 1940 Act to serve as a segregated investment account for the Contracts.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.2. The Fund represents and warrants that Fund shares sold pursuant to this Agreement shall be registered under the 1933 Act, duly authorized for issuance and sold in compliance with the laws of the State of Ohio and all applicable federal and state securities laws and that the Fund is and shall remain registered under the 1940 Act. The Fund shall amend the Registration Statement for its shares under the 1933 Act and the 1940 Act from time to time as required in order to effect the continuous offering of its shares. The Fund shall register and qualify the shares for sale in accordance with the laws of the various states only if and to the extent deemed advisable by the Fund or the Underwriter.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.3. The Fund represents that it is currently qualified as a Regulated Investment Company under Subchapter M of the Internal Revenue Code of 1986, as amended, (the "Code") and that it will make every effort to maintain such qualification (under Subchapter M or any successor or similar provision) and that it will notify the Company immediately upon having a reasonable basis for believing that it has ceased to so qualify or that it might not so qualify in the future.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.4. The Company represents that the Contracts are currently treated as endowment, life insurance or annuity insurance contracts, under applicable provisions of the Code and that it will make every effort to maintain such treatment and that it will notify the Fund and the Underwriter immediately upon having a reasonable basis for believing that the Contracts have ceased to be so treated or that they might not be so treated in the future.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.5. (a) With respect to Initial Class shares, the Fund currently does not intend to make any payments to finance distribution expenses pursuant to Rule 12b-1 under the 1940 Act or otherwise, although it may make such payments in the future. The Fund has adopted a "no fee" or "defensive" Rule 12b-1 Plan under which it makes no payments for distribution expenses. To the extent that it decides to finance distribution expenses pursuant to Rule 12b-1, the Fund undertakes to have a board of trustees, a majority of whom are not interested persons of the Fund, formulate and approve any plan under Rule 12b-1 to finance distribution expenses.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) With respect to Service Class shares and Service Class 2 shares, the Fund has adopted Rule 12b-1 Plans under which it makes payments to finance distribution expenses. The Fund represents and warrants that it has a board of trustees, a majority of whom are not interested persons of the Fund, which has formulated and approved each of its Rule 12b-1 Plans to finance distribution expenses of the Fund and that any changes to the Fund's Rule 12b-1 Plans will be approved by a similarly constituted board of trustees.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.6. The Fund makes no representation as to whether any aspect of its operations (including, but not limited to, fees and expenses and investment policies) complies with the insurance laws or regulations of the various states except that the Fund represents that the Fund's investment policies, fees and expenses are and shall at all times remain in compliance with the laws of the State of Ohio and the Fund and the Underwriter represent that their respective operations are and shall at all times remain in material compliance with the Jaws of the State of Ohio to the extent required to perform this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.7. The Underwriter represents and warrants that it is a member in good standing of the FINRA and is registered as a broker-dealer with the SEC. The Underwriter further represents that it will sell and distribute the Fund shares in accordance with the laws of the Commonwealth of Massachusetts and all applicable state and federal securities laws, including without limitation the 1933 Act, the 1934 Act, and the 1940 Act.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.8. The Fund represents that it is lawfully organized and validly existing under the laws of the Commonwealth of Massachusetts and that it does and will comply in all material respects with the 1940 Act.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.9. The Underwriter represents and warrants that the Adviser is and shall remain duly registered in all material respects under all applicable federal and state securities laws and that the Adviser shall perform its obligations for the Fund in compliance in all material respects with the laws of the Commonwealth of Massachusetts and any applicable state and federal securities laws.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.10. The Fund and Underwriter represent and warrant that all of their directors, officers, employees, investment advisers, and other individuals/entities dealing with the money and/or securities of the Fund are and shall continue to be at all times covered by a blanket fidelity bond or similar coverage for the benefit of the Fund in an amount not less than the minimal coverage as required currently by Rule 17g-(1) of the 1940 Act or related provisions as may be promulgated from time to time. The aforesaid Bond shall include coverage for larceny and embezzlement and shall be issued by a reputable bonding company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.11. The Company represents and warrants that all of its directors, officers, employees, investment advisers, and other individuals/entities dealing with the money and/or securities of the Fund are covered by a blanket fidelity bond or similar coverage for the benefit of the Fund, and that said bond is issued by a reputable bonding company, includes coverage for larceny and embezzlement, and is in an amount not less than *$5* million. The Company agrees to make all reasonable efforts to see that this bond or another bond containing these provisions is always in effect, and agrees to notify the Fund and the Underwriter in the event that such coverage no longer applies.

ARTICLE III. <u>Prospectuses and Proxy Statements: Voting</u>

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.1. The Underwriter shall provide the Company with as many printed copies of the Fund's current prospectus and Statement of Additional Information as the Company may reasonably request. If requested by the Company in lieu thereof, the Fund shall provide camera-ready film containing the Fund's prospectus and Statement of Additional Information, and such other assistance as is reasonably necessary in order for the Company once each year (or more frequently if the prospectus and/or Statement of Additional Information for the Fund is amended during the year) to have the prospectus, private offering memorandum or other disclosure document ("Disclosure Document") for the Contracts and the Fund's prospectus printed together in one document, and to have the Statement of Additional Information for the Fund and the Statement of Additional Information for the Contracts printed together in one document. Alternatively, the Company may print the Fund's prospectus and/or its Statement of Additional Information in combination with other fund companies' prospectuses and statements of additional information. Except as provided in the following three sentences, all expenses of printing and distributing Fund prospectuses and Statements of Additional Information shall be the expense of the Company. For prospectuses and Statements of Additional information provided by the Company to its existing owners of Contracts in order to update disclosure annually as required by the 1933 Act and/or the 1940 Act, the cost of printing shall be borne by the Fund. If the Company chooses to receive camera-ready film in lieu of receiving printed copies of the Fund's prospectus, the Fund will reimburse the Company in an amount equal to the product of A and B where A is the number of such prospectuses distributed to owners of the Contracts, and 8 is the Fund's per unit cost of typesetting and printing the Fund's prospectus. The same procedures shall be followed with respect to the Fund's Statement of Additional Information.

The Company agrees to provide the Fund or its designee with such information as may be reasonably requested by the Fund to assure that the Fund's expenses do not include the cost of printing any prospectuses or Statements of Additional Information other than those actually distributed to existing owners of the Contracts.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.2. The Fund's prospectus shall state that the Statement of Additional Information for the Fund is available from the Underwriter or the Company (or in the Fund's discretion, the Prospectus shall state that such Statement is available from the Fund).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.3. The Fund, at its expense, shall provide the Company with copies of its proxy statements, reports to shareholders, and other communications (except for prospectuses and Statements of Additional Information, which are covered in Section 3.1) to shareholders in such quantity as the Company shall reasonably require for distributing to Contract owners.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.4. If and to the extent required by law the Company shall:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) solicit voting instructions from Contract owners;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) vote the Fund shares in accordance with instructions received from Contract owners; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) vote Fund shares for which no instructions have been received in a particular separate account in the same proportion as Fund shares
of such portfolio for which instructions have been received in that separate account,

so long as and to the extent that the Securities and Exchange Commission continues to interpret the 1940 Act to require pass-through voting privileges for variable contract owners. The Company reserves the right to vote Fund shares held in any segregated asset account in its own right. to the extent permitted by law. Participating Insurance Companies shall be responsible for assuring that each of their separate accounts participating in the Fund calculates voting privileges in a manner consistent with the standards set forth on Schedule 8 attached hereto and incorporated herein by this reference, which standards will also be provided to the other Participating Insurance Companies.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.5. The Fund will comply with all provisions of the 1940 Act requiring voting by shareholders. and in particular the Fund will either provide for annual meetings or comply with Section 16(c) of the 1940 Act (although the Fund is not one of the trusts described in Section 16(c) of that Act) as well as with Sections 16(a) and. if and when applicable. 16(b). Further. the Fund will act in accordance with the Securities and Exchange Commission's interpretation of the requirements of Section 16(a) with respect to periodic elections of trustees and with whatever rules the Commission may promulgate with respect thereto.

ARTICLE IV. <u>Sales Material and Information</u>

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.1. The Company shall furnish, or shall cause to be furnished, to the Fund or its designee, each piece of sales literature or other promotional material in which the Fund or its investment adviser or the Underwriter is named, at least fifteen Business Days prior to its use. No such material shall be used if the Fund or its designee reasonably objects to such use within fifteen Business Days after receipt of such material.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.2. The Company shall not give any information or make any representations or statements on behalf of the Fund or concerning the Fund in connection with the sale of the Contracts other than the information or representations contained in the registration statement or prospectus for the Fund shares, as such registration statement and prospectus may be amended or supplemented from time to time, or in reports or proxy statements for the Fund, or in sales literature or other promotional material approved by the Fund or its designee or by the Underwriter, except with the permission of the Fund or the Underwriter or the designee of either.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.3. The Fund, Underwriter, or its designee shall furnish, or shall cause to be furnished, to the Company or its designee, each piece of sales literature or other promotional material in which the Company and/or its separate account(s), is named at least fifteen Business Days prior to its use. No such material shall be used if the Company or its designee reasonably objects to such use within fifteen Business Days after receipt of such material.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.4. The Fund and the Underwriter shall not give any information or make any representations on behalf of the Company or concerning the Company, each Account, or the Contracts other than the information or representations contained in a registration statement or Disclosure Document for the Contracts, as such registration statement or Disclosure Document may be amended or supplemented from time to time, or in published reports for each Account which are in the public domain or approved by the Company for distribution to Contract owners, or in sales literature or other promotional material approved by the Company or its designee, except with the permission of the Company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.5. The Fund will provide to the Company at least one complete copy of all registration statements, prospectuses, Statements of Additional Information, reports, proxy statements, sales literature and other promotional materials, applications for exemptions, requests for no-action letters, and all amendments to any of the above, that relate to the Fund or its shares, contemporaneously with the filing of such document with the Securities and Exchange Commission or other regulatory authorities.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.6. The Company will provide to the Fund at least one complete copy of all registration statements, Disclosure Documents, Statements of Additional Information, reports, solicitations for voting instructions, sales literature and other promotional materials, applications for exemptions, requests for no action letters, and all amendments to any of the above, that relate to or affect the Fund, the Contracts or each Account, contemporaneously with the filing of such document with the SEC or other regulatory authorities or, if a Contract and its associated Account are exempt from registration, at the time such documents are first published.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.7. For purposes of this Article IV, the phrase "sales literature or other promotional material" includes, but is not limited to, any of the following that refer to the Fund or any affiliate of the Fund: advertisements (such as material published, or designed for use in, a newspaper, magazine, or other periodical, radio, television, telephone or tape recording, videotape display, signs or billboards, motion pictures, or other public media), sales literature (i.e., any written communication distributed or made generally available to customers or the public, including brochures, circulars, research reports, market letters, form letters, seminar texts, reprints or excerpts of any other advertisement, sales literature, or published article), educational or training materials or other communications distributed or made generally available to some or all agents or employees, and registration statements, Disclosure Documents, Statements of Additional Information, shareholder reports, and proxy materials.

ARTICLE V. <u>Fees and Expenses</u>

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.1. The Fund and Underwriter shall pay no fee or other compensation to the Company under this agreement, except that if the Fund or any Portfolio adopts and implements a plan pursuant to Rule 12b-l to finance distribution expenses, then the Underwriter may make payments to the Company or to the underwriter for the Contracts if and in amounts agreed to by the Underwriter in writing and such payments will be made out of existing fees otherwise payable to the Underwriter, past profits of the Underwriter or other resources available to the Underwriter. No such payments shall be made directly by the Fund.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.2. All expenses incident to performance by the Fund under this Agreement shall be paid by the Fund. The Fund shall see to it that all its shares are registered and authorized for issuance in accordance with applicable federal law and, if and to the extent deemed advisable by the Fund, in accordance with applicable state laws prior to their sale. The Fund shall bear the expenses for the cost of registration and qualification of the Fund's shares, preparation and filing of the Fund's prospectus and registration statement, proxy materials and reports, setting the prospectus in type, setting in type and printing the proxy materials and reports to shareholders (including the costs of printing a prospectus that constitutes an annual report), the preparation of all statements and notices required by any federal or state law, and all taxes on the issuance or transfer of the Fund's shares.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.3. The Company shall bear the expenses of distributing the Fund's prospectus and reports to owners of Contracts issued by the Company. The Fund shall bear the costs of soliciting Fund proxies from Contract owners, including the costs of mailing proxy materials and tabulating proxy voting instructions, not to exceed the costs charged by any service provider engaged by the Fund for this purpose. The Fund and the Underwriter shall not be responsible for the costs of any proxy solicitations other than proxies sponsored by the Fund.

ARTICLE VI. <u>Diversification</u>

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.1. The Fund will at all times invest money from the Contracts in such a manner as to ensure that the Contracts will be treated as variable contracts under the Code and the regulations issued thereunder. Without limiting the scope of the foregoing, the Fund will at all times comply with Section 817(h) of the Code and Treasury Regulation 1.817-5, relating to the diversification requirements for variable annuity, endowment, or life insurance contracts and any amendments or other modifications to such Section or Regulations. In the event of a breach of this Article VI by the Fund, it will take all reasonable steps (a) to notify Company of such breach and (b) to adequately diversify the Fund so as to achieve compliance within the grace period afforded by Regulation 1.817-5.

ARTICLE VII. <u>Potential Conflicts</u>

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.1. The Board will monitor the Fund for the existence of any material irreconcilable conflict between the interests of the contract owners of all separate accounts investing in the Fund. An irreconcilable material conflict may arise for a variety of reasons, including: (a) an action by any state insurance regulatory authority; (b) a change in applicable federal or state insurance, tax, or securities laws or regulations, or a public ruling, private letter ruling, no-action or interpretative letter, or any similar action by insurance, tax, or securities regulatory authorities; (c) an administrative or judicial decision in any relevant proceeding; (d) the manner in which the investments of any Portfolio are being managed; (e) a difference in voting instructions given by variable annuity contract and variable life insurance contract owners; or (f) a decision by an insurer to disregard the voting instructions of contract owners. The Board shall promptly inform the Company if it determines that an irreconcilable material conflict exists and the implications thereof.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.2. The Company will report any potential or existing conflicts of which it is aware to the Board. The Company will assist the Board in carrying out its responsibilities under the Shared Funding Exemptive Order, by providing the Board with all information reasonably necessary for the Board to consider any issues raised. This includes, but is not limited to, an obligation by the Company to inform the Board whenever contract owner voting instructions are disregarded.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.3. If it is determined by a majority of the Board, or a majority of its disinterested trustees, that a material irreconcilable conflict exists, the Company and other Participating Insurance Companies shall, at their expense and to the extent reasonably practicable (as determined by a majority of the disinterested trustees), take whatever steps are necessary to remedy or eliminate the irreconcilable material conflict, up to and including: (1), withdrawing the assets allocable to some or all of the separate accounts from the Fund or any Portfolio and reinvesting such assets in a different investment medium, including (but not limited to) another Portfolio of the Fund, or submitting the question whether such segregation should be implemented to a vote of all affected Contract owners and. as appropriate. segregating the assets of any appropriate group (i.e., annuity contract owners, life insurance contract owners, or variable contract owners of one or more Participating Insurance Companies) that votes in favor of such segregation, or offering to the affected contract owners the option of making such a change; and (2), establishing a new registered management investment company or managed separate account.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.4. If a material irreconcilable conflict arises because of a decision by the Company to disregard contract owner voting instructions and that decision represents a minority position or would preclude a majority vote, the Company may be required, at the Fund's election, to withdraw the affected Account's investment in the Fund and terminate this Agreement with respect to such Account; provided, however that such withdrawal and termination shall be limited to the extent required by the foregoing material irreconcilable conflict as determined by a majority of the disinterested members of the Board. Any such withdrawal and termination must take place within six (6) months after the Fund gives written notice that this provision is being implemented, and until the end of that six month period the Underwriter and Fund shall continue to accept and implement orders by the Company for the purchase (and redemption) of shares of the Fund.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.5. If a material irreconcilable conflict arises because a particular state insurance regulator's decision applicable to the Company conflicts with the majority of other state regulators, then the Company will withdraw the affected Account's investment in the Fund and terminate this Agreement with respect to such Account within six months after the Board informs the Company in writing that it has determined that such decision has created an irreconcilable material conflict; provided, however, that such withdrawal and termination shall be limited to the extent required by the foregoing material irreconcilable conflict as determined by a majority of the disinterested members of the Board. Until the end of the foregoing six month period, the Underwriter and Fund shall continue to accept and implement orders by the Company for the purchase (and redemption) of shares of the Fund.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.6. For purposes of Sections 7.3 through 7.6 of this Agreement, a majority of the disinterested members of the Board shall determine whether any proposed action adequately remedies any irreconcilable material conflict, but in no event will the Fund be required to establish a new funding medium for the Contracts. The Company shall not be required by Section 7.3 to establish a new funding medium for the Contracts if an offer to do so has been declined by vote of a majority of Contract owners materially adversely affected by the irreconcilable material conflict. In the event that the Board determines that any proposed action does not adequately remedy any irreconcilable material conflict, then the Company will withdraw the Account's investment in the Fund and terminate this Agreement within six (6) months after the Board informs the Company in writing of the foregoing determination, provided, however, that such withdrawal and termination shall be limited to the extent required by any such material irreconcilable conflict as determined by a majority of the disinterested members of the Board.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.7. If and to the extent that Rule 6e-2 and Rule 6e-3(T) are amended, or Rule 6e-3 is adopted, to provide exemptive relief from any provision of the Act or the rules promulgated thereunder with respect to mixed or shared funding (as defined in the Shared Funding Exemptive Order) on terms and conditions materially different from those contained in the Shared Funding Exemptive Order, then (a) the Fund and/or the Participating Insurance Companies, as appropriate, shall take such steps as may be necessary to comply with Rules 6e-2 and 6e-3(T), as amended, and Rule 6e-3, as adopted, to the extent such rules are applicable; and (b) Sections 3.4, 3.5, 7.1, 7.2, 7.3, 7.4, and 7.5 of this Agreement shall continue in effect only to the extent that terms and conditions substantially identical to such Sections are contained in such Rule(s) as so amended or adopted.

ARTICLE VIII. <u>Indemnification</u>

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.1. <u>Indemnification By The Company</u>

8.1(a). The Company agrees to indemnify and hold harmless the Fund and each trustee of the Board and officers and each person, if any, who controls the Fund within the meaning of Section 15 of the 1933 Act (collectively, the "Indemnified Parties" for purposes of this Section 8.1) against any and all losses, claims, damages, liabilities (including amounts paid in settlement with the written consent of the Company) or litigation (including legal and other expenses), to which the Indemnified Parties may become subject under any statute, regulation, at common law or otherwise, insofar as such losses, claims, damages, liabilities or expenses (or actions in respect thereof) or settlements are related to the sale or acquisition of, or investment in, the Fund's shares or the Contracts and:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) arise out of or are based upon any untrue statements or alleged untrue statements of any material fact contained in the Disclosure Documents for the Contracts or contained in the Contracts or sales literature for the Contracts (or any amendment or supplement to any of the foregoing), or arise out of or are based upon the omission or the alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, provided that this agreement to indemnify shall not apply as to any Indemnified Party if such statement or omission or such alleged statement or omission was made in reliance upon and in conformity with information furnished to the Company by or on behalf of the Fund for use in any Disclosure Document relating to the Contracts or in the Contracts or sales literature (or any amendment or supplement) or otherwise for use in connection with the sale of the Contracts or Fund shares; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) arise out of or as a result of statements or representations (other than statements or representations contained in the registration statement, prospectus or sales literature of the Fund not supplied by the Company, or persons under its control) or wrongful conduct of the Company or persons under its control, with respect to the sale or distribution of the Contracts or Fund Shares; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) arise out of any untrue statement or alleged untrue statement of a material fact contained in a Registration Statement, prospectus, or sales literature of the Fund or any amendment thereof or supplement thereto or the omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading if such a statement or omission was made in reliance upon and in conformity with information furnished to the Fund by or on behalf of the Company; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iv) arise as a result of any failure by the Company to provide the services and furnish the materials under the terms of this Agreement; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(v) arise out of or result from any material breach of any representation and/or warranty made by the Company in this Agreement or arise out of or result from any other material breach of this Agreement by the Company.

as limited by and in accordance with the provisions of Sections 8.1(b) and 8.1(c) hereof.

8.1(b). The Company shall not be liable under this indemnification provision with respect to any losses, claims. damages, liabilities or litigation incurred or assessed against an Indemnified Party as such may arise from such Indemnified Party's willful misfeasance, bad faith, or gross negligence in the performance of such Indemnified Party's duties or by reason of such Indemnified Party's reckless disregard of obligations or duties under this Agreement or to the Fund, whichever is applicable.

8.1(c). The Company shall not be liable under this indemnification provision with respect to any claim made against an Indemnified Party unless such Indemnified Party shall have notified the Company in writing within a reasonable time after the summons or other first legal process giving information of the nature of the claim shall have been served upon such Indemnified Party (or after such Indemnified Party shall have received notice of such service on any designated agent), but failure to notify the Company of any such claim shall not relieve the Company from any liability which it may have to the Indemnified Party against whom such action is brought otherwise than on account of this indemnification provision. In case any such action is brought against the Indemnified Parties, the Company shall be entitled to participate, at its own expense, in the defense of such action. The Company also shall be entitled to assume the defense thereof, with counsel satisfactory to the party named in the action. After notice from the Company to such party of the Company's election to assume the defense thereof, the Indemnified Party shall bear the fees and expenses of any additional counsel retained by it, and the Company will not be liable to such party under this Agreement for any legal or other expenses subsequently incurred by such party independently in connection with the defense thereof other than reasonable costs of investigation.

8.1(d). The Indemnified Parties will promptly notify the Company of the commencement of any litigation or proceedings against them in connection with the issuance or sale of the Fund Shares or the Contracts or the operation of the Fund.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.2. <u>Indemnification by the Underwriter</u>

8.2(a). The Underwriter agrees to indemnify and hold harmless the Company and each of its directors and officers and each person, if any, who controls the Company within the meaning of Section 15 of the 1933 Act (collectively, the "Indemnified Parties" for purposes of this Section 8.2) against any and all losses, claims, damages, liabilities (including amounts paid in settlement with the written consent of the Underwriter) or litigation (including legal and other expenses) to which the Indemnified Parties may become subject under any statute, at common Jaw or otherwise, insofar as such losses, claims, damages, liabilities or expenses (or actions in respect thereof) or settlements are related to the sale or acquisition of, or investment in, the Fund's shares or the Contracts and:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) arise out of or are based upon any untrue statement or alleged untrue statement of any material fact contained in the registration
statement or prospectus or sales literature of the Fund (or any amendment or supplement to any of the foregoing), or arise out of or are
based upon the omission or the alleged omission to state therein a material fact required to be stated therein or necessary to make the
statements therein not misleading, provided that this agreement to indemnify shall not apply as to any Indemnified Party if such statement
or omission or such alleged statement or omission was made in reliance upon and in conformity with information furnished to the Underwriter
or Fund by or on behalf of the Company for use in the registration statement or prospectus for the Fund or in sales literature (or any
amendment or supplement) or otherwise for use in connection with the sale of the Contracts or Fund shares; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) arise out of or as a result of statements or representations (other than statements or representations contained in the Registration
Statement, prospectus or sales literature for the Contracts not supplied by the Underwriter or persons under its control) or wrongful
conduct of the Fund, Adviser or Underwriter or persons under their control, with respect to the sale or distribution of the Contracts
or Fund shares; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) arise out of any untrue statement or alleged untrue statement of a material fact contained in a Disclosure Document or sales literature
covering the Contracts, or any amendment thereof or supplement thereto, or the omission or alleged omission to state therein a material
fact required to be stated therein or necessary to make the statement or statements therein not misleading, if such statement or omission
was made in reliance upon and in conformity with information furnished to the Company by or on behalf of the Fund; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iv) arise as a result of any failure by the Fund to provide the services and furnish the materials under the terms of this Agreement (including
a failure. whether unintentional or in good faith or otherwise, to comply with the diversification requirements specified in Article VI
of this Agreement); or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(v) arise out of or result from any material breach of any representation and/or warranty made by the Underwriter in this Agreement or
arise out of or result from any other material breach of this Agreement by the Underwriter;

as limited by and in accordance with the provisions of Sections 8.2(b) and 8.2(c) hereof.

8.2(b). The Underwriter shall not be liable under this indemnification provision with respect to any losses, claims, damages, liabilities or litigation to which an Indemnified Party would otherwise be subject by reason of such Indemnified Party's willful misfeasance, bad faith, or gross negligence in the performance of such Indemnified Party's duties or by reason of such Indemnified Party's reckless disregard of obligations and duties under this Agreement or to each Company or the Account, whichever is applicable.

8.2(c). The Underwriter shall not be liable under this indemnification provision with respect to any claim made against an Indemnified Party unless such Indemnified Party shall have notified the Underwriter in writing within a reasonable time after the summons or other first legal process giving information of the nature of the claim shall have been served upon such Indemnified Party (or after such Indemnified Party shall have received notice of such service on any designated agent), but failure to notify the Underwriter of any such claim shall not relieve the Underwriter from any liability which it may have to the Indemnified Party against whom such action is brought otherwise than on account of this indemnification provision. In case any such action is brought against the Indemnified Parties, the Underwriter will be entitled to participate, at its own expense, in the defense thereof. The Underwriter also shall be entitled to assume the defense thereof, with counsel satisfactory to the party named in the action. After notice from the Underwriter to such party of the Underwriter's election to assume the defense thereof, the Indemnified Party shall bear the fees and expenses of any additional counsel retained by it, and the Underwriter will not be liable to such party under this Agreement for any legal or other expenses subsequently incurred by such party independently in connection with the defense thereof other than reasonable costs of investigation.

8.2(d). The Company agrees promptly to notify the Underwriter of the commencement of any litigation or proceedings against it or any of its officers or directors in connection with the issuance or sale of the Contracts or the operation of each Account.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.3. <u>Indemnification By the Fund</u>

8.3(a). The Fund agrees to indemnify and hold harmless the Company, and each of its directors and officers and each person, if any, who controls the Company within the meaning of Section 15 of the 1933 Act (collectively, the "Indemnified Parties" for purposes of this Section 8.3) against any and all losses, claims, damages, liabilities (including amounts paid in settlement with the written consent of the Fund) or litigation (including legal and other expenses) to which the Indemnified Parties may become subject under any statute, at common law or otherwise, insofar as such losses, claims, damages, liabilities or expenses (or actions in respect thereof) or settlements result from the gross negligence, bad faith or willful misconduct of the Board or any member thereof, are related to the operations of the Fund and:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) arise as a result of any failure by the Fund to provide the services and furnish the materials under the terms of this Agreement (including
a failure to comply with the diversification requirements specified in Article VI of this Agreement);or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) arise out of or result from any material breach of any representation and/or warranty made by the Fund
in this Agreement or arise out of or result from any other material breach of this Agreement by the Fund;

as limited by and in accordance with the provisions of Sections 8.3(b) and 8.3(c) hereof.

8.3(b). The Fund shall not be liable under this indemnification provision with respect to any losses, claims, damages, liabilities or litigation incurred or assessed against an Indemnified Party as such may arise from such Indemnified Party's willful misfeasance, bad faith, or gross negligence in the performance of such Indemnified Party's duties or by reason of such Indemnified Party's reckless disregard of obligations and duties under this Agreement or to the Company, the Fund, the Underwriter or each Account, whichever is applicable.

8.3(c). The Fund shall not be liable under this indemnification provision with respect to any claim made against an Indemnified Party unless such Indemnified Party shall have notified the Fund in writing within a reasonable time after the summons or other fust legal process giving information of the nature of the claim shall have been served upon such Indemnified Party (or after such Indemnified Party shall have received notice of such service on any designated agent), but failure to notify the Fund of any such claim shall not relieve the Fund from any liability which it may have to the Indemnified Party against whom such action is brought otherwise than on account of this indemnification provision. In case any such action is brought against the Indemnified Parties, the Fund will be entitled to participate, at its own expense, in the defense thereof. The Fund also shall be entitled to assume the defense thereof, with counsel satisfactory to the party named in the action. After notice from the Fund to such party of the Fund's election to assume the defense thereof, the Indemnified Party shall bear the fees and expenses of any additional counsel retained by it, and the Fund will not be liable to such party under this Agreement for any legal or other expenses subsequently incurred by such party independently in connection with the defense thereof other than reasonable costs of investigation.

8.3(d). The Company and the Underwriter agree promptly to notify the Fund of the commencement of any litigation or proceedings against it or any of its respective officers or directors in connection with this Agreement, the issuance or sale of the Contracts, with respect to the operation of either Account, or the sale or acquisition of shares of the Fund.

ARTICLE IX. <u>Applicable Law</u>

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.1. This Agreement shall be construed and the provisions hereof interpreted under and in accordance with the laws of the Commonwealth of Massachusetts.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.2. This Agreement shall be subject to the provisions of the 1933, 1934 and 1940 acts, and the rules and regulations and rulings thereunder, including such exemptions from those statutes, rules and regulations as the Securities and Exchange Commission may grant (including, but not limited to, the Shared Funding Exemptive Order) and the terms hereof shall be interpreted and construed in accordance therewith.

ARTICLE X. <u>Termination</u>

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10.1. This Agreement shall continue in full force and effect until the first to occur of:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) termination by any party for any reason by sixty (60) days advance written notice delivered to the other parties; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) termination by the Company by written notice to the Fund and the Underwriter with respect to any Portfolio based upon the Company's
determination that shares of such Portfolio are not reasonably available to meet the requirements of the Contracts; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) termination by the Company by written notice to the Fund and the Underwriter with respect to any Portfolio in the event any of the
Portfolio's shares are not registered, issued or sold in accordance with applicable state and/or federal law or such law precludes the
use of such shares as the underlying investment media of the Contracts issued or to be issued by the Company; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) termination by the Company by written notice to the Fund and the Underwriter with respect to any Portfolio in the event that such
Portfolio ceases to qualify as a Regulated Investment Company under Subchapter M of the Code or under any successor or similar provision,
or if the Company reasonably believes that the Fund may fail to so qualify; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) termination by the Company by written notice to the Fund and the Underwriter with respect to any Portfolio in the event that such
Portfolio fails to meet the diversification requirements specified in Article VI hereof; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) termination by either the Fund or the Underwriter by written notice to the Company, if either one or both of the Fund or the Underwriter
respectively, shall determine, in their sole judgment exercised in good faith, that the Company and/or its affiliated companies has suffered
a material adverse change in its business, operations, financial condition or prospect., since the date of this Agreement or is the subject
of material adverse publicity; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g) termination by the Company by written notice to the Fund and the Underwriter, if the Company shall determine, in its sole judgment
exercised in good faith, that either the Fund or the Underwriter has suffered a material adverse change in its business, operations, financial
condition or prospects since the date of this Agreement or is the subject of material adverse publicity; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10.2. Notwithstanding any termination of this Agreement, the Fund and the Underwriter shall at the option of the Company, continue to make available additional shares of the Fund pursuant to the tenns and conditions of this Agreement, for all Contracts in effect on the effective date of termination of this Agreement (hereinafter referred to as "Existing Contracts"). Specifically, without limitation, the owners of the Existing Contracts shall be permitted to reallocate investments in the Fund, redeem investments in the Fund and/or invest in the Fund upon the making of additional purchase payments under the Existing Contracts. The parties agree that this Section 10.2 shall not apply to any terminations under Article VII and the effect of such Article VII terminations shall be governed by Article VII of this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10.3. The provisions of Articles II (Representations and Warranties), VID (Indemnification), IX (Applicable Law) and XII (Miscellaneous) shall survive termination of this Agreement. In addition, all other applicable provisions of this Agreement shall survive termination as long as shares of the Fund are held on behalf of Contract owners in accordance with section 10.2. except that the Fund and Underwriter shall have no further obligation to make Fund shares available in Contracts issued after termination.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10.4. The Company shall not redeem Fund shares attributable to the Contracts (as opposed to Fund shares attributable to the Company's assets held in the Account) except (i) as necessary to implement Contract Owner initiated or approved transactions, or (ii) as required by state and/or federal laws or regulations or judicial or other legal precedent of general application (hereinafter referred to as a "Legally Required Redemption") or (iii) as permitted by an order of the SEC pursuant to Section 26(b) of the 1940 Act. Upon request, the Company will promptly furnish to the Fund and the Underwriter the opinion of counsel for the Company (which counsel shall be reasonably satisfactory to the Fund and the Underwriter) to the effect that any redemption pursuant to clause (ii) above is a Legally Required Redemption. Furthermore, except in cases where permitted under the terms of the Contracts, the Company shall not prevent Contract Owners from allocating payments to a Portfolio that was otherwise available under the Contracts without first giving the Fund or the Underwriter 90 days notice of its intention to do so.

ARTICLE XI. <u>Notices</u>

Any notice shall be sufficiently given when sent by registered or certified mail to the other party at the address of such party set forth below or at such other address as such party may from time to time specify in writing to the other party.

If to the Fund:

82 Devonshire Street

Boston, Massachusetts 02109

Attention: Treasurer

If to the Company:

The Ohio National Life Insurance Company

One Financial Way

Cincinanti, Ohio 45242

Attention: Legal Department

If to the Underwriter:

82 Devonshire Street

Boston, Massachusetts 02109

Attention: Treasurer

ARTICLE XII. <u>Miscellaneous</u>

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12.1 All persons dealing with the Fund must look solely to the property of the Fund for the enforcement of any claims against the Fund as neither the Board, officers, agents or shareholders assume any personal liability for obligations entered into on behalf of the Fund.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12.2 Subject to the requirements of legal process and regulatory authority, each party hereto shall treat as confidential the names and addresses of the owners of the Contracts and all information reasonably identified as confidential in writing by any other party hereto and, except as permitted by this Agreement, shall not disclose, disseminate or utilize such names and addresses and other confidential information until such time as it may come into the public domain without the express written consent of the affected party.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12.3 The captions in this Agreement are included for convenience of reference only and in no way define or delineate any of the provisions hereof or otherwise affect their construction or effect.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12.4 This Agreement may be executed simultaneously in two or more counterparts, each of which taken together shall constitute one and the same instrument.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12.5 If any provision of this Agreement shall be held or made invalid by a court decision, statute, rule or otherwise, the remainder of the Agreement shall not be affected thereby.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12.6 Each party hereto shall cooperate with each other party and all appropriate governmental authorities (including without limitation the SEC, the FINRA and state insurance regulators) and shall permit such authorities reasonable access to its books and records in connection with any investigation or inquiry relating to this Agreement or the transactions contemplated hereby. Notwithstanding the generality of the foregoing, each party hereto further agrees to furnish the California Insurance Commissioner with any information or reports in connection with services provided under this Agreement which such Commissioner may request in order to ascertain whether the insurance operations of the Company are being conducted in a manner consistent with the California Insurance Regulations and any other applicable law or regulations.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12.7 The rights, remedies and obligations contained in this Agreement are cumulative and are in addition to any and all rights, remedies and obligations, at law or in equity, which the parties hereto are entitled to under state and federal laws.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12.8. This Agreement or any of the rights and obligations hereunder may not be assigned by any party without the prior written consent of all parties hereto; provided, however, that the Underwriter may assign this Agreement or any rights or obligations hereunder to any affiliate of or company under common control with the Underwriter, if such assignee is duly licensed and registered to perform the obligations of the Underwriter under this Agreement. The Company shall promptly notify the Fund and the Underwriter of any change in control of the Company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12.9. To the extent such reports are publicly available, the Company shall furnish, or shall cause to be furnished, to the Fund or its designee copies of the following reports:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) the Company's annual statement (prepared under statutory accounting principles) and annual report (prepared under generally accepted
accounting principles ("GAAP"), if any), as soon as practical and in any event within 90 days after the end of each fiscal year;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) the Company's quarterly statements (statutory) (and GAAP, if any), as soon as practical and in any event
within 45 days after the end of each quarterly period:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) any financial statement, proxy statement, notice or report of the Company sent to stockholders and/or policyholders, as soon as practical
after the delivery thereof to stockholders;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) any registration statement (without exhibits) and financial reports of the Company filed with the Securities and Exchange Commission
or any state insurance regulator, as soon as practical after the filing thereof;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) any other report submitted to the Company by independent accountants in connection with any annual, interim or special audit made
by them of the books of the Company, as soon as practical after the receipt thereof.

IN WITNESS WHEREOF, each of the parties hereto has caused this Agreement to be executed in its name and on its behalf by its duly authorized representative.

---

| | |
|:---|:---|
| THE OHIO NATIONAL LIFE INSURANCE COMPANY | THE OHIO NATIONAL LIFE INSURANCE COMPANY |
| By: | /s/ John J. Plamer |
| Name: | John J. Plamer |
| Its: | Vice Chairman |

---

---

| |
|:---|
| VARIABLE INSURANCE PRODUCTS FUND, |
| VARIABLE INSURANCE PRODUCTS FUND II |
| VARIABLE INSURANCE PRODUCTS FUND III |
| VARIABLE INSURANCE PRODUCTS FUND IV, and |
| VARIABLE INSURANCE PRODUCTS FUND V |

---

---

| | |
|:---|:---|
| By: | /s/ Kimberley Monasterio |
| Name: | Kimberley Monasterio |
| Their: | Treasurer, SVP |
| FIDELITY DISTRIBUTORS CORPORATION | FIDELITY DISTRIBUTORS CORPORATION |
| By: | /s/ Bill Loehning |
| Name: | Bill Loehning |
| Title: | Executive Vice President |
| Date: | 4/29/08 |

---

<u>Schedule A</u>

<u>Separate Accounts and Associated Contracts</u>

---

| | |
|:---|:---|
| Name of Separate Account and<br> Date Established by Board of Directors | Policy Form Numbers of Contracts<br> Funded By Separate Account |
|  Ohio National Variable Account A<br> (August 1, 1969) | Form 98-VA-2<br> Form 98-VA-3<br> Form 98-VA-4<br> Form 99-VA-2<br> Form 00-VA-2<br> Form 06-VA-1<br> Form 06-VA-2<br> Form 06-VA-3<br> Form 06-VA-4<br> Form 06-VA-5<br> Form 84-VA/VB<br> Form 96-VA/VB-2<br> Form 93-VA/VB-1<br> Form 90-VA/VB-1<br> Form 96-VA-3 |
|  Ohio National Variable Account B<br> (August 1, 1969) | Form 84-VA/VB<br> Form 96-VA/VB-2<br> Form 93-VA/VB-1<br> Form 90-VA/VB-1 |
|  Ohio National Variable Account C<br> (unregistered) | Form GA-97-V-1<br> Form GA-96-V-2<br> Form GA-91-V-1<br> Form GA-96-V-2<br> Form GA-87-V-2<br> Form GA-87-V-1 |
|  Ohio National Variable Account D<br> (August 1, 1969) | Form GA-93-VF-1 |

---

SCHEDULED

PROXY VOTING PROCEDURE

The following is a list of procedures and corresponding responsibilities for the handling of proxies relating to the Fund by the Underwriter, the Fund and the Company. The defined terms herein shall have the meanings assigned in the Participation Agreement except that the term "Company" shall also include the department or third party assigned by the Insurance Company to perform the steps delineated below.

1. The number of proxy proposals is given to the Company by the Underwriter as early as possible before the date set by the Fund for
the shareholder meeting to facilitate the establishment of tabulation procedures. At this time the Underwriter will inform the Company
of the Record, Mailing and Meeting dates. This will be done verbally approximately two months before meeting.

2. Promptly after the Record Date, the Company will perform a "tape run", or other activity, which will generate the names,
addresses and number of units which are attributed to each contractowner/policyholder (the "Customer") as of the Record Date.
Allowance should be made for account adjustments made after this date that could affect the status of the Customers' accounts as of the
Record Date.

Note: The number of proxy statements is determined by the activities described in Step #2. The Company will use its best efforts to call in the number of Customers to Fidelity, as soon as possible, but no later than two weeks after the Record Date.

3. The Fund's Annual Report no longer needs to be sent to each Customer by the Company either before or together with the Customers'
receipt of a proxy statement. Underwriter will provide the last Annual Report to the Company pursuant to the terms of Section 3.3 of the
Agreement to which this Schedule relates.

4. The text and format for the Voting Instruction Cards ("Cards" or "Card") is provided to the Company by the Fund.
The Companyshall produce and personalize the Voting Instruction Cards. The Legal Department of the Underwriter or its affiliate ("Fidelity
Legal") must approve the Card before it is printed. Allow approximately 2-4 business days for printing information on the Cards.
Information commonly found on the Cards includes:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a. name (legal name as found on account registration)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b. address

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;c. Fund or account number

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;d. coding to state number of units

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;e. individual Card number for use in tracking and verification of votes (already on Cards as printed by the Fund)

(This and related steps may occur later in the chronological process due to possible uncertainties relating to the proposals.)

5. During this time, Fidelity Legal will develop, produce, and the Fund will pay for the Notice of Proxy and the Proxy Statement (one
document). Printed and folded notices and statements will be sent to Company for insertion into envelopes (envelopes and return envelopes
are provided and paid for by the Fund). Contents of envelope sent to Customers by Company will include:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a. Voting Instruction Card(s)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b. One proxy notice and statement (one document)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;c. return envelope (postage pre-paid by Company) addressed to the Company or its tabulation agent

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;d. "urge buckslip" - optional, but recommended. (This is a small, single sheet of paper that requests Customers to vote as
quickly as possible and that their vote is important. One copy will be supplied by the Fund.)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;e. cover letter - optional, supplied by Company and reviewed and approved in advance by Fidelity Legal.

6. The above contents should be received by the Company approximately 3-5 business days before mail date. Individual in charge at Company
reviews and approves the contents of the mailing package to ensure correctness and completeness. Copy of this approval sent to Fidelity
Legal.

7. Package mailed by the Company.

\* The Fund <u>must</u> allow at least a 15-day solicitation time to the Company as the shareowner. (A 5-week period is recommended.) Solicitation time is calculated as calendar days from (but <u>not</u> including) the meeting, counting backwards.

8. Collection and tabulation of Cards begins. Tabulation usually takes place in another department or another vendor depending on process
used. An often used procedure is to sort Cards on arrival by proposal into vote categories of all yes, no, or mixed replies, and to begin
data entry.

Note: Postmarks are not generally needed. A need for postmark information would be due to an insurance company's internal procedure and has not been required by Fidelity in the past.

9. Signatures on Card checked against legal name on account registration which was printed on the Card.

Note: For Example, If the account registration is under "Bertram C. Jones, Trustee," then that is the exact legal name to be printed on the Card and is the signature needed on the Card.

10. If Cards are mutilated, or for any reason are illegible or are not signed properly, they are sent back to Customer with an explanatory
letter, a new Card and return envelope. The mutilated or illegible Card is disregarded and considered to be <u>not received</u> for purposes
of vote tabulation. Any Cards that have "kicked out" (e.g. mutilated, illegible) of the procedure are "hand verified,"
i.e., examined as to why they did not complete the system. Any questions on those Cards are usually remedied individually.

11. There are various control procedures used to ensure proper tabulation of votes and accuracy of that tabulation. The most prevalent
is to sort the Cards as they first arrive into categories depending upon their vote; an estimate of how the vote is progressing may then
be calculated. If the initial estimates and the actual vote do not coincide, then an internal audit of that vote should occur. This may
entail a recount.

12. The actual tabulation of votes is done in units which is then converted
 to shares. (It is very important that the Fund receives the tabulations stated in terms of
 a percentage and the number of <u>shares</u>.) Fidelity Legal must review and approve tabulation
 format.

13. Final tabulation in shares is verbally given by the Company to Fidelity Legal on the morning of the meeting not later than 10:00 a.m.
Boston time. Fidelity Legal may request an earlier deadline if required to calculate the vote in time for the meeting.

14. A Certification of Mailing and Authorization to Vote Shares will be required from the Company as well as an original copy of the final
vote. Fidelity Legal will provide a standard form for each Certification.

15. The Company will be required to box and archive the Cards received from the Customers. In the event that any vote is challenged or
if otherwise necessary for legal, regulatory, or accounting purposes, Fidelity Legal will be permitted reasonable access to such Cards.

16. All approvals and "signing-off" may be done orally, but must always be followed up in writing.

<u>SUB-LICENSE AGREEMENT</u>

Agreement effective as of this_ of __, 2008, by and between Fidelity Distributors Corporation (hereinafter called "Fidelity"), a corporation organized and existing under the Jaws of the Commonwealth of Massachusetts, with a principal place of business at 82 Devonshire Street, Boston, Massachusetts, and The Ohio National Life Insurance Company (hereinafter called "Company"), a company organized and existing under the laws of the State of Ohio, with a principal place of business at One Financial Way, Cincinnati, Ohio 45242.

WHEREAS, FMR Corp., a Massachusetts corporation, the parent company of Fidelity, is the owner of the trademark and the tradename "FIDELITY INVESTMENTS" and is the owner of a trademark in a pyramid design (hereinafter, collectively the "Fidelity Trademarks"), a copy of each of which is attached hereto as Exhibit "A"; and

WHEREAS, FMR Corp. has granted a license to Fidelity (the "Master License Agreement") to sub-license the Fidelity Trademarks to third parties for their use in connection with Promotional Materials as hereinafter defined; and

WHEREAS, Company is desirous of using the Fidelity Trademarks in connection with distribution of "sales literature and other promotional material" with information, including the Fidelity Trademarks, printed in said material (such material hereinafter called the Promotional Material). For the purpose of this Agreement, "sales literature and other promotional material" shall have the same meaning as in the certain Amended and Restated Participation Agreement dated as of the_ day of __, 2008, among Fidelity, Company and the Variable Insurance Products Funds (hereinafter "Participation Agreement"); and

WHEREAS, Fidelity is desirous of having the Fidelity Trademarks used in connection with the Promotional Material.

NOW, THEREFORE, in consideration of the foregoing and for other good and valuable consideration, the receipt and adequacy whereof is hereby acknowledged, and of the mutual promises hereinafter set forth, the parties hereby agree as follows:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. Fidelity hereby grants to Company a non-exclusive, non-transferable license to use the Fidelity Trademarks in connection with the promotional distribution of the Promotional Material and Company accepts said license, subject to the terms and conditions set forth herein.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. Company acknowledges that FMR Corp. is the owner of all right, title and interest in the Fidelity Trademarks and agrees that it will do nothing inconsistent with the ownership of the Fidelity Trademarks by FMR Corp., and that it will not. now or hereinafter. contest any registration or application for registration of the Fidelity Trademarks by FMR Corp., nor will it, now or hereafter, aid anyone in contesting any registration or application for registration of the Fidelity Trademarks by FMR Corp.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3. Company agrees to use the Fidelity Trademarks only in the form and manner approved by Fidelity and not to use any other trademark, service mark or registered trademark in combination with any of the Fidelity Trademarks without approval by Fidelity.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4. Company agrees that it will place all necessary and proper notices and legends in order to protect the interests of FMR Corp. and Fidelity therein pertaining to the Fidelity Trademarks on the Promotional Material including, but not limited to, symbols indicating trademarks, service marks and registered trademarks. Company will place such symbols and legends on the Promotional Material as requested by Fidelity or FMR Corp. upon receipt of notice of same from Fidelity or FMR Corp.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5. Company agrees that the nature and quality of all of the Promotional Material distributed by Company bearing the Fidelity Trademarks shall conform to standards set by, and be under the control of, Fidelity.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6. Company agrees to cooperate with Fidelity in facilitating Fidelity's control of the use of the Fidelity Trademarks and of the quality of the Promotional Material to permit reasonable inspection of samples of same by Fidelity and to supply Fidelity with reasonable quantities of samples of the Promotional Material upon request.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7. Company shall comply with all applicable laws and regulations and obtain any and all licenses or other necessary permits pertaining to the distribution of said Promotional Material.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8. Company agrees to notify Fidelity of any unauthorized use of the Fidelity Trademarks by others promptly as it comes to the attention of Company. Fidelity or FMR Corp. shall have the sole right and discretion to commence actions or other proceedings for infringement, unfair competition or the like involving the Fidelity Trademarks and Company shall cooperate in any such proceedings if so requested by Fidelity or FMR Corp.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9. This agreement shall continue in force until terminated by Fidelity. This agreement shall automatically terminate upon termination of the Master License Agreement. In addition, Fidelity shall have the right to terminate this agreement at any time upon notice to Company, with or without cause. Upon any such termination. Company agrees to cease immediately all use of the Fidelity Trademarks and shall destroy, at Company's expense, any and all materials in its possession bearing the Fidelity Trademarks, and agrees that all rights in the Fidelity Trademarks and in the goodwill connected therewith shall remain the property of FMR Corp. Unless so terminated by Fidelity, or extended by written agreement of the parties, this agreement shall expire on the termination of that certain Participation Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10. Company shall indemnify Fidelity and FMR Corp. and hold each of them harmless from and against any loss, damage, liability, cost or expense of any nature whatsoever, including without limitation. reasonable attorneys' fees and all court costs, arising out of use of the Fidelity Trademarks by Company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11. In consideration for the promotion and advertising of Fidelity as a result of the distribution by Company of the Promotional Material, Company shall not pay any monies as a royalty to Fidelity for this license.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12. This agreement is not intended in any manner to modify the terms and conditions of the Participation Agreement. In the event of any conflict between the terms and conditions herein and thereof, the terms and conditions of the Participation Agreement shall control.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13. This agreement shall be interpreted according to the laws of the Commonwealth of Massachusetts.

IN WITNESS WHEREOF, the parties hereunto set their hands and seals, and hereby execute this agreement, as of the date first above written.

---

| | |
|:---|:---|
| FIDELITY DISTRIBUTIONS CORPORATION | FIDELITY DISTRIBUTIONS CORPORATION |
| By: | /s/ Bill Loehning |
| Name: | Bill Loehning |
| Title: | Executive Vice Persident |
| Date: | 4/29/08 |
| THE OHIO NATIONAL LIFE INSURANCE COMPANY | THE OHIO NATIONAL LIFE INSURANCE COMPANY |
| By: | /s/ John J. Palmer |
| Name: | John J. Palmer |
| Title: | Vice Chairman |

---

EXHIBIT A

Int. Cl.: 36

Prior U.S. Cls.: 101 and 102

Reg. No. 1,481,040

<u>United States Patent and Trademark Office Registered Mar. 15, 1988</u>

SERVICE MARK

PRINCIPAL REGISTER

![](fp0096724-3b_01.jpg)

---

| | |
|:---|:---|
| FMR CORP. (MASSACHUSETTS CORPORATION) | FIRST USE 2-22-1984; IN COMMERCE 2-22-1984. |
| 82 DEVONSHIRE STREET |  |
| BOSTON, MA 02109, ASSIGNEE OF | NO CLAIM IS MADE TO THE |
| FIDELITY DISTRIBUTORS | EXCLUSIVE RIGHT TO USE |
| CORPORATION (MASSACHUSETTS | "INVESTMENTS", APART FROM THE |
| CORPORATION) BOSTON, MA 02109 | MARK AS SHOWN. |
| FOR: MUTUAL FUND AND STOCK | SER. NO. 641,707, FILED 1-28-1987 |
| BROKERAGE SERVICES, IN CLASS 36 |  |
| (U.S. CLS. 101 AND 102) | RUSS HERMAN, EXAMINING |
|  | ATTORNEY |

---

## Exhibit 99.30

**PARTICIPATION AGREEMENT**

THIS AGREEMENT, made and entered into this first day of May, 1998 by and between GOLDMAN SACHS VARIABLE INSURANCE TRUST, an unincorporated business trust formed under the laws of Delaware (the "Trust"), GOLDMAN, SACHS & CO., a New York limited partnership (the "Distributor"), and THE OHIO NATIONAL LIFE INSURANCE COMPANY, an Ohio life insurance company (the "Company"), on its own behalf and on behalf of each separate account of the Company identified herein.

WHEREAS, the Trust is a series-type mutual fund offering shares of beneficial interest (the "Trust shares") consisting of one or more separate series ("Series") of shares, each such Series representing an interest in a particular investment portfolio of securities and other assets (a "Fund"), and which Series may be subdivided into various classes ("Classes") with each such Class supporting a distinct charge and expense arrangement; and

WHEREAS, the Trust was established for the purpose of serving as an investment vehicle for insurance company separate accounts supporting variable annuity contracts and variable life insurance policies to be offered by insurance companies and may also be utilized by qualified retirement plans; and

WHEREAS, the Distributor has the exclusive right to distribute Trust shares to qualifying investors; and

WHEREAS, the Company desires that the Trust serve as an investment vehicle for a certain separate account(s) of the Company and the Distributor desires to sell shares of certain Series and/or Class(es) to such separate account(s);

NOW, THEREFORE, in consideration of their mutual promises, the Trust, the Distributor and the Company agree as follows:

**ARTICLE I**

**Additional Definitions**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1.1.** "Account" -- the separate account of the Company described more specifically in Schedule 1 to this Agreement. If more than one separate account is described on Schedule 1, the term shall refer to each separate account so described.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1.2.** "Business Day" -- each day that the Trust is open for business as provided in the Trust's Prospectus.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1.3.** "Code" -- the Internal Revenue Code of 1986, as amended, and any successor thereto.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1.4.** "Contracts" -- the class or classes of variable annuity contracts and/or variable life insurance policies issued by the Company and described more specifically on Schedule 2 to this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1.5.** "Contract Owners" -- the owners of the Contracts, as distinguished from all Product Owners.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1.6.** "Participating Account" -- a separate account investing all or a portion of its assets in the Trust, including the Account.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1.7.** "Participating Insurance Company" -- any insurance company investing in the Trust on its behalf or on behalf of a Participating Account, including the Company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1.8.** "Participating Plan" -- any qualified retirement plan investing in the Trust.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1.9.** "Participating Investor" -- any Participating Account, Participating Insurance Company or Participating Plan, including the Account and the Company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1.10.** "Products" -- variable annuity contracts and variable life insurance policies supported by Participating Accounts, including the Contracts.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1.11.** "Product Owners" -- owners of Products, including Contract Owners.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1.12.** "Trust Board" -- the board of trustees of the Trust.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1.13.** "Registration Statement" -- with respect to the Trust shares or a class of Contracts, the registration statement filed with the SEC to register such securities under the 1933 Act, or the most recently filed amendment thereto, in either case in the form in which it was declared or became effective. The Contracts' Registration Statement for each class of Contracts is described more specifically on Schedule 2 to this Agreement. The Trust's Registration Statement is filed on Form N-1A (File No. 333-35883).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1.14.** "1940 Act Registration Statement" -- with respect to the Trust or the Account, the registration statement filed with the SEC to register such person as an investment company under the 1940 Act, or the most recently filed amendment thereto. The Account's 1940 Act Registration Statement is described more specifically on Schedule 2 to this Agreement. The Trust's 1940 Act Registration Statement is filed on Form N-1A (File No. 811-08361).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1.15.** "Prospectus" -- with respect to shares of a Series (or Class) of the Trust or a class of Contracts, each version of the definitive prospectus or supplement thereto filed with the SEC pursuant to Rule 497 under the 1933 Act. With respect to any provision of this Agreement requiring a party to take action in accordance with a Prospectus, such reference thereto shall be deemed to be to the version for the applicable Series, Class or Contracts last so filed prior to the taking of such action. For purposes of Article IX, the term "Prospectus" shall include any statement of additional information incorporated therein.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1.16.** "Statement of Additional Information" -- with respect to the shares of the Trust or a class of Contracts, each version of the definitive statement of additional information or supplement thereto filed with the SEC pursuant to Rule 497 under the 1933 Act. With respect to any provision of this Agreement requiring a party to take action in accordance with a Statement of Additional Information, such reference thereto shall be deemed to be the last version so filed prior to the taking of such action.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1.17.** "SEC" -- the Securities and Exchange Commission.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1.18.** "NASD" -- The National Association of Securities Dealers, Inc.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1.19.** "1933 Act" -- the Securities Exchange Act of 1933, as amended.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1.20.** "1940 Act" -- the Investment Company Act of 1940, as amended.

**ARTICLE II**

**Sale of Trust Shares**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**2.1. Availability of Shares**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) The Trust has granted to the Distributor exclusive authority to distribute the Trust shares and to select which Series or Classes of Trust shares shall be made available to Participating Investors. Pursuant to such authority, and subject to Article X hereof, the Distributor shall make available to the Company for purchase on behalf of the Account, shares of the Series and Classes listed on Schedule 3 to this Agreement, such purchases to be effected at net asset value in accordance with Section 2.3 of this Agreement. Such Series and Classes shall be made available to the Company in accordance with the terms and provisions of this Agreement until this Agreement is terminated pursuant to Article X or the Distributor suspends or terminates the offering of shares of such Series or Classes in the circumstances described in Article X.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Notwithstanding clause (a) of this Section 2.1, Series or Classes of Trust shares in existence now or that may be established in the future will be made available to the Company only as the Distributor may so provide, subject to the Distributor's rights set forth in Article X to suspend or terminate the offering of shares of any Series or Class or to terminate this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) The parties acknowledge and agree that: (i) the Trust may revoke the Distributor's authority pursuant to the terms and conditions of its distribution agreement with the Distributor; and (ii) the Trust reserves the right in its sole discretion to refuse to accept a request for the purchase of Trust shares.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**2.2. Redemptions.** The Trust shall redeem, at the Company's request, any full or fractional Trust shares held by the Company on behalf of the Account, such redemptions to be effected at net asset value in accordance with Section 2.3 of this Agreement. Notwithstanding the foregoing, (i) the Company shall not redeem Trust shares attributable to Contract Owners except in the circumstances permitted in Article X of this Agreement, and (ii) the Trust may delay redemption of Trust shares of any Series or Class to the extent permitted by the 1940 Act, any rules, regulations or orders thereunder, or the Prospectus for such Series or Class.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**2.3. Purchase and Redemption Procedures**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) The Trust hereby appoints the Company as an agent of the Trust for the limited purpose of receiving purchase and redemption requests on behalf of the Account (but not with respect to any Trust shares that may be held in the general account of the Company) for shares of those Series or Classes made available hereunder, based on allocations of amounts to the Account or subaccounts thereof under the Contracts, other transactions relating to the Contracts or the Account and customary processing of the Contracts. Receipt of any such requests (or effectuation of such transaction or processing) on any Business Day by the Company as such limited agent of the Trust prior to the Trust's close of business as defined from time to time in the applicable Prospectus for such Series or Class (which as of the date of execution of this Agreement is defined as the close of regular trading on the New York Stock Exchange (normally 4:00 p.m. New York Time)) shall constitute receipt by the Trust on that same Business Day, provided that the Trust receives actual and sufficient notice of such request by 8:00 a.m. New York Time on the next following Business Day. Such notice may be communicated by telephone to the office or person designated for such notice by the Trust, and shall be confirmed by facsimile.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) The Company shall pay for shares of each Series or Class on the same day that it provides actual notice to the Trust of a purchase request for such shares. Payment for Series or Class shares shall be made in Federal funds transmitted to the Trust by wire to be received by the Trust by 12:00 noon New York Time on the day the Trust receives actual notice of the purchase request for Series or Class shares (unless the Trust determines and so advises the Company that sufficient proceeds are available from redemption of shares of other Series or Classes effected pursuant to redemption requests tendered by the Company on behalf of the Account). In no event may proceeds from the redemption of shares requested pursuant to an order received by the Company after the Trust's close of business on any Business Day be applied to the payment for shares for which a purchase order was received prior to the Trust's close of business on such day. If the issuance of shares is canceled because Federal funds are not timely received, the Company shall indemnify the respective Fund and Distributor with respect to all costs, expenses and losses relating thereto. Upon the Trust's receipt of Federal funds so wired, such funds shall cease to be the responsibility of the Company and shall become the responsibility of the Trust. If Federal funds are not received on time, such funds will be invested, and Series or Class shares purchased thereby will be issued, as soon as practicable after actual receipt of such funds but in any event not on the same day that the purchase order was received.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) Payment for Series or Class shares redeemed by the Account or the Company shall be made in Federal funds transmitted by wire to the Company or any other person properly designated in writing by the Company, such funds normally to be transmitted by 6:00 p.m. New York Time on the next Business Day after the Trust receives actual notice of the redemption order for Series or Class shares (unless redemption proceeds are to be applied to the purchase of Trust shares of other Series or Classes in accordance with Section 2.3(b) of this Agreement), except that the Trust reserves the right to redeem Series or Class shares in assets other than cash and to delay payment of redemption proceeds to the extent permitted by the 1940 Act, any rules or regulations or orders thereunder, or the applicable Prospectus. The Trust shall not bear any responsibility whatsoever for the proper disbursement or crediting of redemption proceeds by the Company; the Company alone shall be responsible for such action,

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) Any purchase or redemption request for Series or Class shares held or to be held in the Company's general account shall be effected at the net asset value per share next determined after the Trust's actual receipt of such request, provided that, in the case of a purchase request, payment for Trust shares so requested is received by the Trust in Federal funds prior to close of business for determination of such value, as defined from time to time in the Prospectus for such Series or Class.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) Prior to the first purchase of any Trust shares hereunder, the Company and the Trust shall provide each other with all information necessary to effect wire transmissions of Federal funds to the other party and all other designated persons pursuant to such protocols and security procedures as the parties may agree upon. Should such information change thereafter, the Trust and the Company, as applicable, shall notify the other in writing of such changes, observing the same protocols and security procedures, at least three Business Days in advance of when such change is to take effect. The Company and the Trust shall observe customary procedures to protect the confidentiality and security of such information, but the Trust shall not be liable to the Company for any breach of security.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) The procedures set forth herein are subject to any additional terms set forth in the applicable Prospectus for the Series or Class or by the requirements of applicable law.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**2.4. Net Asset Value.** The Trust shall use its best efforts to inform the Company of the net asset value per share for each Series or Class available to the Company as soon as reasonably practicable after the net asset value per share for such Series or Class is calculated. The Trust shall calculate such net asset value in accordance with the Prospectus for such Series or Class.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**2.5. Dividends and Distributions.** The Trust shall furnish notice to the Company as soon as reasonably practicable of any income dividends or capital gain distributions payable on any Series or Class shares. The Company, on its behalf and on behalf of the Account, hereby elects to receive all such dividends and distributions as are payable on any Series or Class shares in the form of additional shares of that Series or Class. The Company reserves the right, on its behalf and on behalf of the Account, to revoke this election and to receive all such dividends and capital gain distributions in cash; to be effective, such revocation must be made in writing and received by the Trust at least ten Business Days prior to a dividend or distribution date. The Trust shall notify the Company promptly of the number of Series or Class shares so issued as payment of such dividends and distributions.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**2.6. Book Entry.** Issuance and transfer of Trust shares shall be by book entry only. Stock certificates will not be issued to the Company or the Account. Purchase and redemption orders for Trust shares shall be recorded in an appropriate ledger for the Account or the appropriate subaccount of the Account.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**2.7. Pricing Errors.** Any material errors in the calculation of net asset value, dividends or capital gain information shall be reported immediately upon discovery to the Company. An error shall be deemed "material" based on our interpretation of the SEC's position and policy with regard to materiality, as it may be modified from time to time. Neither the Trust, any Fund, the Distributor, nor any of their affiliates shall be liable for any information provided to the Company pursuant to this Agreement which information is based on incorrect information supplied by or on behalf of the Company or any other Participating Insurance Company to the Trust or the Distributor.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**2.8. Limits on Purchasers.** The Distributor and the Trust shall sell Trust shares only to insurance companies and their separate accounts and to persons or plans ("Qualified Persons") that qualify to purchase shares of the Trust under Section 817(h) of the Code and the regulations thereunder without impairing the ability of the Account to consider the portfolio investments of the Trust as constituting investments of the Account for the purpose of satisfying the diversification requirements of Section 817(h). The Distributor and the Trust shall not sell Trust shares to any insurance company or separate account unless an agreement complying with Article VIII of this Agreement is in effect to govern such sales. The Company hereby represents and warrants that it and the Account are Qualified Persons.

ARTICLE III

**Representations and Warranties**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**3.1. Company.** The Company represents and warrants that; (i) the Company is an insurance company duly organized and in good standing under Ohio insurance law; (ii) the Account is a validly existing separate account, duly established and maintained in accordance with applicable law; (iii) the Account's 1940 Act Registration Statement has been filed with the SEC in accordance with the provisions of the 1940 Act and the Account is duly registered as a unit investment trust thereunder; (iv) the Contracts' Registration Statement has been declared effective by the SEC; (v) the Contracts will be issued in compliance in all material respects with all applicable Federal and state laws; (vi) the Contracts have been filed, qualified and/or approved for sale, as applicable, under the insurance laws and regulations of the states in which the Contracts will be offered; (vii) the Account will maintain its registration under the 1940 Act and will comply in all material respects with the 1940 Act; (viii) the Contracts currently are, and at the time of issuance and for so long as they are outstanding will be, treated as annuity contracts or life insurance policies, whichever is appropriate, under applicable provisions of the Code; and (ix) the Company's entering into and performing its obligations under this Agreement does not and will not violate its charter documents or by-laws, rules or regulations, or any agreement to which it is a party. The Company will notify the Trust promptly if for any reason it is unable to perform its obligations under this Agreement

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**3.2. Trust.** The Trust represents and warrants that: (i) the Trust is an unincorporated business trust duly formed and validly existing under the Delaware law; (ii) the Trust's 1940 Act Registration Statement has been filed with the SEC in accordance with the provisions of the 1940 Act and the Trust is duly registered as an open-end management investment company thereunder; (iii) the Trust's Registration Statement has been declared effective by the SEC; (iv) the Trust shares will be issued in compliance in all material respects with all applicable federal laws; (v) the Trust will remain registered under and will comply in all material respects with the 1940 Act during the term of this Agreement; (vi) each Fund of the Trust intends to qualify as a "regulated investment company" under Subchapter M of the Code and to comply with the diversification standards prescribed in Section 817(h) of the Code and the regulations thereunder; and (vii) the investment policies of each Fund are in material compliance with any investment restrictions set forth on Schedule 4 to this Agreement. The Trust, however, makes no representation as to whether any aspect of its operations (including, but not limited to, fees and expenses and investment policies) otherwise complies with the insurance laws or regulations of any state.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**3.3. Distributor.** The Distributor represents and warrants that: (i) the Distributor is a limited partnership duly organized and in good standing under New York law; (ii) the Distributor is registered as a broker-dealer under federal and applicable state securities laws and is a member of the NASD; and (iii) the Distributor is registered as an investment adviser under federal securities laws.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**3.4. Legal Authority.** Each party represents and warrants that the execution and delivery of this Agreement and the consummation of the transactions contemplated herein have been duly authorized by all necessary corporate, partnership or trust action, as applicable, by such party, and, when so executed and delivered, this Agreement will be the valid and binding obligation of such party enforceable in accordance with its terms.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**3.5. Bonding Requirement.** Each party represents and warrants that all of its directors, officers, partners and employees dealing with the money and/or securities of the Trust are and shall continue to be at all times covered by a blanket fidelity bond or similar coverage for the benefit of the Trust in an amount not less than the amount required by the applicable rules of the NASD and the federal securities laws. The aforesaid bond shall include coverage for larceny and embezzlement and shall be issued by a reputable bonding company. All parties shall make all reasonable efforts to see that this bond or another bond containing these provisions is always in effect, shall provide evidence thereof promptly to any other party upon written request therefor, and shall notify the other parties promptly in the event that such coverage no longer applies.

**ARTICLE IV**

**Regulatory Requirements**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**4.1. Trust Filings.** The Trust shall amend the Trust's Registration Statement and the Trust's 1940 Act Registration Statement from time to time as required in order to effect the continuous offering of Trust shares in compliance with applicable law and to maintain the Trust's registration under the 1940 Act for so long as Trust shares are sold.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**4.2. Contracts Filings.** The Company shall amend the Contracts' Registration Statement and the Account's 1940 Act Registration Statement from time to time as required in order to effect the continuous offering of the Contracts in compliance with applicable law or as may otherwise be required by applicable law, but in any event shall maintain a current effective Contracts' Registration Statement and the Account's registration under the 1940 Act for so long as the Contracts are outstanding unless the Company has supplied the Trust with an SEC noaction letter or opinion of counsel satisfactory to the Trust's counsel to the effect that maintaining such Registration Statement on a current basis is no longer required. The Company shall be responsible for filing all such Contract forms, applications, marketing materials and other documents relating to the Contracts and/or the Account with state insurance commissions, as required or customary, and shall use its best efforts: (i) to obtain any and all approvals thereof, under applicable state insurance law, of each state or other jurisdiction in which Contracts are or may be offered for sale; and (ii) to keep such approvals in effect for so long as the Contracts are outstanding.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**4.3. Voting of Trust Shares.** With respect to any matter put to vote by the holders of Trust shares ("Voting Shares"), the Company will provide "pass-through" voting privileges to owners of Contracts registered with the SEC as long as the 1940 Act requires such privileges in such cases. In cases in which "pass-through" privileges apply, the Company will (i) solicit voting instructions from Contract Owners of SEC-registered Contracts; (ii) vote Voting Shares attributable to Contract Owners in accordance with instructions or proxies timely received from such Contract Owners; and (iii) vote Voting Shares held by it that are not attributable to reserves for SEC-registered Contracts or for which it has not received timely voting instructions in the same proportion as instructions received in a timely fashion from Owners of SEC-registered Contracts. The Company shall be responsible for ensuring that it calculates "pass-through" votes for the Account in a manner consistent with the provisions set forth above and with other Participating Insurance Companies. Neither the Company nor any of its affiliates will in any way recommend action in connection with, or oppose or interfere with, the solicitation of proxies for the Trust shares held for such Contract Owners, except with respect to matters as to which the Company has the right under Rule 6e-2 or 6e-3(T) under the 1940 Act, to vote Voting Shares without regard to voting instructions from Contract Owners.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**4.4. State Insurance Restrictions.** The Company acknowledges and agrees that it is the responsibility of the Company and other Participating Insurance Companies to determine investment restrictions and any other restrictions, limitations or requirements under state insurance law applicable to any Fund or the Trust or the Distributor, and that neither the Trust nor the Distributor shall bear any responsibility to the Company, other Participating Insurance Companies or any Product Owners for any such determination or the correctness of such determination. Schedule 4 sets forth the investment restrictions that the Company and/or other Participating Insurance Companies have determined are applicable to any Fund and with which the Trust has agreed to comply as of the date of this Agreement. The Company shall inform the Trust of any investment restrictions imposed by state insurance law that the Company determines may become applicable to the Trust or a Fund from time to time as a result of the Account's investment therein, other than those set forth on Schedule 4 to this Agreement. Upon receipt of any such information from the Company or any other Participating Insurance Company, the Trust shall determine whether it is in the best interests of shareholders to comply with any such restrictions. If the Trust determines that it is not in the best interests of shareholders (it being understood that "shareholders" for this purpose shall mean Product Owners) to comply with a restriction determined to be applicable by the Company, the Trust shall so inform the Company, and the Trust and the Company shall discuss alternative accommodations in the circumstances. If the Trust determines that it is in the best interests of shareholders to comply with such restrictions, the Trust and the Company shall amend Schedule 4 to this Agreement to reflect such restrictions, subject to obtaining any required shareholder approval thereof.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**4.5. Compliance.** Under no circumstances will the Trust, the Distributor or any of their affiliates (excluding Participating Investors) be held responsible or liable in any respect for any statements or representations made by them or their legal advisers to the Company or any Contract Owner concerning the applicability of any federal or state laws, regulations or other authorities to the activities contemplated by this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**4.6. Drafts of Filings.** The Trust and the Company shall provide to each other copies of draft versions of any Registration Statements, Prospectuses, Statements of Additional Information, periodic and other shareholder or Contract Owner reports, proxy statements, solicitations for voting instructions, applications for exemptions, requests for no-action letters, and all amendments or supplements to any of the above, prepared by or on behalf of either of them and that mentions the other party by name. Such drafts shall be provided to the other party sufficiently in advance of filing such materials with regulatory authorities in order to allow such other party a reasonable opportunity to review the materials.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**4.7. Copies of Filings.** The Trust and the Company shall provide to each other at least one complete copy of all Registration Statements, Prospectuses, Statements of Additional Information, periodic and other shareholder or Contract Owner reports, proxy statements, solicitations of voting instructions, applications for exemptions, requests for no-action letters, and all amendments or supplements to any of the above, that relate to the Trust, the Contracts or the Account, as the case may be, promptly after the filing by or on behalf of each such party of such document with the SEC or other regulatory authorities (it being understood that this provision is not intended to require the Trust to provide to the Company copies of any such documents prepared, filed or used by Participating Investors other than the Company and the Account).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**4.8. Regulatory Responses.** Each party shall promptly provide to all other parties copies of responses to no-action requests, notices, orders and other rulings received by such party with respect to any filing covered by Section 4.7 of this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**4.9. Complaints and Proceedings**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) The Trust and/or the Distributor shall immediately notify the Company of: (i) the issuance by any court or regulatory body of any stop order, cease and desist order, or other similar order (but not including an order of a regulatory body exempting or approving a proposed transaction or arrangement) with respect to the Trust's Registration Statement or the Prospectus of any Series or Class; (ii) any request by the SEC for any amendment to the Trust's Registration Statement or the Prospectus of any Series or Class; (iii) the initiation of any proceedings for that purpose or for any other purposes relating to the registration or offering of the Trust shares; or (iv) any other action or circumstances that may prevent the lawful offer or sale of Trust shares or any Class or Series in any state or jurisdiction, including, without limitation, any circumstance in which (A) such shares are not registered and, in all material respects, issued and sold in accordance with applicable state and federal law or (B) such law precludes the use of such shares as an underlying investment medium for the Contracts. The Trust will make every reasonable effort to prevent the issuance of any such stop order, cease and desist order or similar order and, if any such order is issued, to obtain the lifting thereof at the earliest possible time.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) The Company shall immediately notify the Trust and the Distributor of: (i) the issuance by any court or regulatory body of any stop order, cease and desist order, or other similar order (but not including an order of a regulatory body exempting or approving a proposed transaction or arrangement) with respect to the Contracts' Registration Statement or the Contracts' Prospectus; (ii) any request by the SEC for any amendment to the Contracts' Registration Statement or Prospectus; (iii) the initiation of any proceedings for that purpose or for any other purposes relating to the registration or offering of the Contracts; or (iv) any other action or circumstances that may prevent the lawful offer or sale of the Contracts or any class of Contracts in any state or jurisdiction, including, without limitation, any circumstance in which such Contracts are not registered, qualified and approved, and, in all material respects, issued and sold in accordance with applicable state and federal laws. The Company will make every reasonable effort to prevent the issuance of any such stop order, cease and desist order or similar order and, if any such order is issued, to obtain the lifting thereof at the earliest possible time.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) Each party shall immediately notify the other parties when it receives notice, or otherwise becomes aware of, the commencement of any litigation or proceeding against such party or a person affiliated therewith in connection with the issuance or sale of Trust shares or the Contracts.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) The Company shall provide to the Trust and the Distributor any complaints it has received from Contract Owners pertaining to the Trust or a Fund, and the Trust and Distributor shall each provide to the Company any complaints it has received from Contract Owners relating to the Contracts.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**4.10. Cooperation.** Each party hereto shall cooperate with the other parties and all appropriate government authorities (including without limitation the SEC, the NASD and state securities and insurance regulators) and shall permit such authorities reasonable access to its books and records in connection with any investigation or inquiry by any such authority relating to this Agreement or the transactions contemplated hereby. However, such access shall not extend to attorney-client privileged information.

**ARTICLE V**

**Sale, Administration and Servicing of the Contracts**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**5.1. Sale of the Contracts.** The Company shall be fully responsible as to the Trust and the Distributor for the sale and marketing of the Contracts. The Company shall provide Contracts, the Contracts' and Trust's Prospectuses, Contracts' and Trust's Statements of Additional Information, and all amendments or supplements to any of the foregoing to Contract Owners and prospective Contract Owners, all in accordance with federal and state laws. The Company shall ensure that all persons offering the Contracts are duly licensed and registered under applicable insurance and securities laws. The Company shall ensure that each sale of a Contract satisfies applicable suitability requirements under insurance and securities laws and regulations, including without limitation the rules of the NASD. The Company shall adopt and implement procedures reasonably designed to ensure that information concerning the Trust and the Distributor that is intended for use only by brokers or agents selling the Contracts (i.e., information that is not intended for distribution to Contract Owners or offerees) is so used.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**5.2. Administration and Servicing of the Contracts.** The Company shall be fully responsible as to the Trust and the Distributor for the underwriting, issuance, service and administration of the Contracts and for the administration of the Account, including, without limitation, the calculation of performance information for the Contracts, the timely payment of Contract Owner redemption requests and processing of Contract transactions, and the maintenance of a service center, such functions to be performed in all respects at a level commensurate with those standards prevailing in the variable insurance industry. The Company shall provide to Contract Owners all Trust reports, solicitations for voting instructions including any related Trust proxy solicitation materials, and updated Trust Prospectuses as required under the federal securities laws.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**5.3. Customer Complaints.** The Company shall promptly address all customer complaints and resolve such complaints consistent with high ethical standards and principles of ethical conduct.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**5.4. Trust Prospectuses and Reports.** In order to enable the Company to fulfill its obligations under this Agreement and the federal securities laws, the Trust shall provide the Company with a copy, in camera-ready form or form otherwise suitable for printing or duplication of: (i) the Trust's Prospectus for the Series and Classes listed on Schedule 3 and any supplement thereto; (ii) each Statement of Additional Information and any supplement thereto; (iii) any Trust proxy soliciting material for such Series or Classes; and (iv) any Trust periodic shareholder reports. The Trust and the Company may agree upon alternate arrangements, but in all cases, the Trust reserves the right to approve the printing of any such material. The Trust shall provide the Company at least 10 days advance written notice when any such material shall become available, provided, however, that in the case of a supplement, the Trust shall provide the Company notice reasonable in the circumstances, it being understood that circumstances surrounding such supplement may not allow for advance notice. The Company may not alter any material so provided by the Trust or the Distributor (including without limitation presenting or delivering such material in a different medium, e.g., electronic or Internet) without the prior written consent of the Distributor.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**5.5. Trust Advertising Material.** No piece of advertising or sales literature or other promotional material in which the Trust or the Distributor is named (including, without limitation, material for prospects, existing Contract Owners, brokers, rating or ranking agencies, or the press, whether in print, radio, television, video, Internet, or other electronic medium) shall be used by the Company or any person directly or indirectly authorized by the Company, including without limitation, underwriters, distributors, and sellers of the Contracts, except with the prior written consent of the Trust or the Distributor, as applicable, as to the form, content and medium of such material. Any such piece shall be furnished to the Trust for such consent prior to its use. The Trust or the Distributor shall respond to any request for written consent on a prompt and timely basis, but failure to respond shall not relieve the Company of the obligation to obtain the prior written consent of the Trust or the Distributor. After receiving the Trust's or Distributor's consent to the use of any such material, no further changes may be made without obtaining the Trust's or Distributor's consent to such changes. The Trust or Distributor may at any time in its sole discretion revoke such written consent, and upon notification of such revocation, the Company shall no longer use the material subject to such revocation. Until further notice to the Company, the Trust has delegated its rights and responsibilities under this provision to the Distributor.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**5.6. Contracts Advertising Material.** No piece of advertising or sales literature or other promotional material in which the Company is named shall be used by the Trust or the Distributor, except with the prior written consent of the Company. Any such piece shall be furnished to the Company for such consent prior to its use. The Company shall respond to any request for written consent on a prompt and timely basis, but failure to respond shall not relieve the Company of the obligation to obtain the prior written consent of the Company. The Company may at any time in its sole discretion revoke any written consent, and upon notification of such revocation, neither the Trust nor the Distributor shall use the material subject to such revocation. The Company, upon prior written notice to the Trust, may delegate its rights and responsibilities under this provision to the principal underwriter for the Contracts.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**5.7. Trade Names.** No party shall use any other party's names, logos, trademarks or service marks, whether registered or unregistered, without the prior written consent of such other party, or after written consent therefor has been revoked. The Company shall not use in advertising, publicity or otherwise the name of the Trust, Distributor, or any of their affiliates nor any trade name, trademark, trade device, service mark, symbol or any abbreviation, contraction or simulation thereof of the Trust, Distributor, or their affiliates without the prior written consent of the Trust or the Distributor in each instance.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**5.8. Representations by Company.** Except with the prior written consent of the Trust, the Company shall not give any information or make any representations or statements about the Trust or the Funds nor shall it authorize or allow any other person to do so except information or representations contained in the Trust's Registration Statement or the Trust's Prospectuses or in reports or proxy statements for the Trust, or in sales literature or other promotional material approved in writing by the Trust or its designee in accordance with this Article V, or in published reports or statements of the Trust in the public domain.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**5.9. Representations by Trust.** Except with the prior written consent of the Company, the Trust shall not give any information or make any representations on behalf of the Company or concerning the Company, the Account or the Contracts other than the information or representations contained in the Contracts' Registration Statement or Contracts' Prospectus or in published reports of the Account which are in the public domain or in sales literature or other promotional material approved in writing by the Company in accordance with this Article V.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**5.10. Advertising.** For purposes of this Article V, the phrase "sales literature or other promotional material" includes, but is not limited to, any material constituting sales literature or advertising under the NASD rules, the 1940 Act or the 1933 Act.

**ARTICLE VI**

**Compliance with Code**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**6.1. Section 817(h).** Each Fund of the Trust shall comply with Section 817(h) of the Code and the regulations issued thereunder to the extent applicable to the Fund as an investment company underlying the Account, and the Trust shall notify the Company immediately upon having a reasonable basis for believing that a Fund has ceased to so qualify or that it might not so qualify in the future.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**6.2. Subchapter M.** Each Fund of the Trust shall maintain the qualification of the Fund as a registered investment company (under Subchapter M or any successor or similar provision), and the Trust shall notify the Company immediately upon having a reasonable basis for believing that a Fund has ceased to so qualify or that it might not so qualify in the future.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**6.3. Contracts.** The Company shall ensure the continued treatment of the Contracts as annuity contracts or life insurance policies, whichever is appropriate, under applicable provisions of the Code and shall notify the Trust and the Distributor immediately upon having a reasonable basis for believing that the Contracts have ceased to be so treated or that they might not be so treated in the future.

ARTICLE VII

Expenses

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**7.1. Expenses.** All expenses incident to each party's performance under this Agreement (including expenses expressly assumed by such party pursuant to this Agreement) shall be paid by such party to the extent permitted by law.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**7.2. Trust Expenses.** Expenses incident to the Trust's performance of its duties and obligations under this Agreement include, but are not limited to, the costs of:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) registration and qualification of the Trust shares
under the federal securities laws;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) preparation and filing with the SEC of the Trust's
Prospectuses, Trust's Statement of Additional Information, Trust's Registration Statement, Trust proxy materials and shareholder
reports, and preparation of a camera-ready copy of the foregoing;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) preparation of all statements and notices required
by any Federal or state securities law;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) printing and mailing of all materials and reports
required to be provided by the Trust to its existing shareholders;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) all taxes on the issuance or transfer of Trust
shares;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) payment of all applicable fees relating to the
Trust, including, without limitation, all fees due under Rule 24f-2 in connection with sales of Trust shares to qualified retirement plans,
custodial, auditing, transfer agent and advisory fees, fees for insurance coverage and Trustees' fees; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g) any expenses permitted to be paid or assumed
by the Trust pursuant to a plan, if any, under Rule 12b-1 under the 1940 Act.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**7.3. Company Expenses.** Expenses incident to the Company's performance of its duties and obligations under this Agreement include, but are not limited to, the costs of:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) registration and qualification of the Contracts
under the federal securities laws;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) preparation and filing with the SEC of the Contracts'
Prospectus and Contracts' Registration Statement;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) the sale, marketing and distribution of the Contracts,
including printing and dissemination of Contracts' and the Trust's Prospectuses and compensation for Contract sales;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) administration of the Contracts;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) solicitation of voting instructions with respect
to Trust proxy materials;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) payment of all applicable fees relating to the
Contracts, including, without limitation, all fees due under Rule 24f-2;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g) preparation, printing and dissemination of all
statements and notices to Contract Owners required by any Federal or state insurance law other than those paid for by the Trust; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h) preparation, printing and dissemination of all
marketing materials for the Contracts and Trust except where other arrangements are made in advance.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**7.4. 12b-l Payments.** The Trust shall pay no fee or other compensation to the Company under this Agreement, except that if the Trust or any Series or Class adopts and implements a plan pursuant to Rule 12b-l under the 1940 Act to finance distribution expenses, then payments may be made to the Company in accordance with such plan. The Trust currently does not intend to make any payments to finance distribution expenses pursuant to Rule 12b-l under the 1940 Act or in contravention of such rule, although it may make payments pursuant to Rule 12b-l in the future. To the extent that it decides to finance distribution expenses pursuant to Rule I2b-1 and such formulation is required by the 1940 Act or any rules or order thereunder, the Trust undertakes to have a Board of Trustees, a majority of whom are not interested persons of the Trust, formulate and approve any plan under Rule 12b-1 to finance distribution expenses.

**ARTICLE VIII**

**Potential Conflicts**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**8.1. Exemptive Order.** The parties to this Agreement acknowledge that the Trust has filed an application with the SEC to request an order (the "Exemptive Order") granting relief from various provisions of the 1940 Act and the rules thereunder to the extent necessary to permit Trust shares to be sold to and held by variable annuity and variable life insurance separate accounts of both affiliated and unaffiliated Participating Insurance Companies and other Qualified Persons (as defined in Section 2.8 hereof). It is anticipated that the Exemptive Order, when and if issued, shall require the Trust and each Participating Insurance Company to comply with conditions and undertakings substantially as provided in this Article VIII. The Trust will not enter into a participation agreement with any other Participating Insurance Company unless it imposes the same conditions and undertakings on that company as are imposed on the Company pursuant to this Article VIII.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**8.2. Company Monitoring Requirements.** The Company will monitor its operations and those of the Trust for the purpose of identifying any material irreconcilable conflicts or potential material irreconcilable conflicts between or among the interests of Participating Plans, Product Owners of variable life insurance policies and Product Owners of variable annuity contracts.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**8.3. Company Reporting Requirements.** The Company shall report any conflicts or potential conflicts to the Trust Board and will provide the Trust Board, at least annually, with all information reasonably necessary for the Trust Board to consider any issues raised by such existing or potential conflicts or by the conditions and undertakings required by the Exemptive Order. The Company also shall assist the Trust Board in carrying out its obligations including, but not limited to: (a) informing the Trust Board whenever it disregards Contract Owner voting instructions with respect to variable life insurance policies, and (b) providing such other information and reports as the Trust Board may reasonably request. The Company will carry out these obligations with a view only to the interests of Contract Owners.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**8.4. Trust Board Monitoring and Determination.** The Trust Board shall monitor the Trust for the existence of any material irreconcilable conflicts between or among the interests of Participating Plans, Product Owners of variable life insurance policies and Product Owners of variable annuity contracts and determine what action, if any, should be taken in response to those conflicts. A majority vote of Trustees who are not interested persons of the Trust as defined in the 1940 Act (the "disinterested trustees") shall represent a conclusive determination as to the existence of a material irreconcilable conflict between or among the interests of Product Owners and Participating Plans and as to whether any proposed action adequately remedies any material irreconcilable conflict. The Trust Board shall give prompt written notice to the Company and Participating Plan of any such determination.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**8.5. Undertaking to Resolve Conflict.** In the event that a material irreconcilable conflict of interest arises between Product Owners of variable life insurance policies or Product Owners of variable annuity contracts and Participating Plans, the Company will, at its own expense, take whatever action is necessary to remedy such conflict as it adversely affects Contract Owners up to and including (1) establishing a new registered management investment company, and (2) withdrawing assets from the Trust attributable to reserves for the Contracts subject to the conflict and reinvesting such assets in a different investment medium (including another Fund of the Trust) or submitting the question of whether such withdrawal should be implemented to a vote of all affected Contract Owners, and, as appropriate, segregating the assets supporting the Contracts of any group of such owners that votes in favor of such withdrawal, or offering to such owners the option of making such a change. The Company will carry out the responsibility to take the foregoing action with a view only to the interests of Contract Owners.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**8.6. Withdrawal.** If a material irreconcilable conflict arises because of the Company's decision to disregard the voting instructions of Contract Owners of variable life insurance policies and that decision represents a minority position or would preclude a majority vote at any Fund shareholder meeting, then, at the request of the Trust Board, the Company will redeem the shares of the Trust to which the disregarded voting instructions relate. No charge or penalty, however, will be imposed in connection with such a redemption.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**8.7. Expenses Associated with Remedial Action.** In no event shall the Trust be required to bear the expense of establishing a new funding medium for any Contract. The Company shall not be required by this Article to establish a new funding medium for any Contract if an offer to do so has been declined by vote of a majority of the Contract Owners materially adversely affected by the irreconcilable material conflict.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**8.8. Successor Rules.** If and to the extent that Rule 6e-2 and Rule 6e-3(T) are amended, or Rule 6e-3 is adopted, to provide exemptive relief from any provisions of the 1940 Act or the rules promulgated thereunder with respect to mixed and shared funding on terms and conditions materially different from those contained in the Exemptive Order, then (i) the Trust and/or the Company, as appropriate, shall take such steps as may be necessary to comply with Rules 6e-2 and 6e-3(T), as amended, or Rule 6e-3, as adopted, as applicable, to the extent such rules are applicable, and (ii) Sections 8.2 through 8.5 of this Agreement shall continue in effect only to the extent that terms and conditions substantially identical to such Sections are contained in such Rule(s) as so amended or adopted.

**ARTICLE IX**

**Indemnification**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**9.1. Indemnification by the Company.** The Company hereby agrees to, and shall, indemnify and hold harmless the Trust, the Distributor and each person who controls or is affiliated with the Trust or the Distributor within the meaning of such terms under the 1933 Act or 1940 Act (but not any Participating Insurance Companies or Qualified Persons) and any officer, trustee, partner, director, employee or agent of the foregoing, against any and all losses, claims, damages or liabilities, joint or several (including any investigative, legal and other expenses reasonably incurred in connection with, and any amounts paid in settlement of, any action, suit or proceeding or any claim asserted), to which they or any of them may become subject under any statute or regulation, at common law or otherwise, insofar as such losses, claims, damages or liabilities:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) arise out of or are based upon any untrue statement
of any material fact contained in the Contracts Registration Statement, Contracts Prospectus, sales literature or other promotional material
for the Contracts or the Contracts themselves (or any amendment or supplement to any of the foregoing), or arise out of or are based upon
the omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading
in light of the circumstances in which they were made; provided that this obligation to indemnify shall not apply if such statement or
omission was made in reliance upon and in conformity with information furnished in writing to the Company by the Trust or the Distributor
for use in the Contracts Registration Statement, Contracts Prospectus or in the Contracts or sales literature or promotional material
for the Contracts (or any amendment or supplement to any of the foregoing) or otherwise for use in connection with the sale of the Contracts
or Trust shares; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) arise out of any untrue statement of a material
fact contained in the Trust Registration Statement, any Prospectus for Series or Classes or sales literature or other promotional material
of the Trust (or any amendment or supplement to any of the foregoing), or the omission to state therein a material fact required to be
stated therein or necessary to make the statements therein not misleading in light of the circumstances in which they were made, if such
statement or omission was made in reliance upon and in conformity with information furnished to the Trust or Distributor in writing by
or on behalf of the Company; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) arise out of or are based upon any wrongful conduct
of, or violation of federal or state law by, the Company or persons under its control or subject to its authorization, including without
limitation, any broker-dealers or agents authorized to sell the Contracts, with respect to the sale, marketing or distribution of the
Contracts or Trust shares, including, without limitation, any impermissible use of broker-only material, unsuitable or improper sales
of the Contracts or unauthorized representations about the Contracts or the Trust; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) arise as a result of any failure by the Company
or persons under its control (or subject to its authorization) to provide services, furnish materials or make payments as required under
this Agreement; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) arise out of any material breach by the Company
or persons under its control (or subject to its authorization) of this Agreement; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) any breach of any warranties contained in Article
III hereof, any failure to transmit a request for redemption or purchase of Trust shares or payment therefor on a timely basis in accordance
with the procedures set forth in Article II, or any unauthorized use of the names or trade names of the Trust or the Distributor.

This indemnification is in addition to any liability that the Company may otherwise have; provided, however, that no party shall be entitled to indemnification if such loss, claim, damage or liability is caused by the wilful misfeasance, bad faith, gross negligence or reckless disregard of duty by the party seeking indemnification.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**9.2. Indemnification by the Trust.** The Trust hereby agrees to, and shall, indemnify and hold harmless the Company and each person who controls or is affiliated with the Company within the meaning of such terms under the 1933 Act or 1940 Act and any officer, director, employee or agent of the foregoing, against any and all losses, claims, damages or liabilities, joint or several (including any investigative, legal and other expenses reasonably incurred in connection with, and any amounts paid in settlement of, any action, suit or proceeding or any claim asserted), to which they or any of them may become subject under any statute or regulation, at common law or otherwise, insofar as such losses, claims, damages or liabilities:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) arise out of or are based upon any untrue statement
of any material fact contained in the Trust Registration Statement, any Prospectus for Series or Classes or sales literature or other
promotional material of the Trust (or any amendment or supplement to any of the foregoing), or arise out of or are based upon the omission
to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading in light of
the circumstances in which they were made; provided that this obligation to indemnify shall not apply if such statement or omission was
made in reliance upon and in conformity with information furnished in writing by the Company to the Trust or the Distributor for use in
the Trust Registration Statement, Trust Prospectus or sales literature or promotional material for the Trust (or any amendment or supplement
to any of the foregoing) or otherwise for use in connection with the sale of the Contracts or Trust shares; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) arise out of any untrue statement of a material
fact contained in the Contracts Registration Statement, Contracts Prospectus or sales literature or other promotional material for the
Contracts (or any amendment or supplement to any of the foregoing), or the omission to state therein a material fact required to be stated
therein or necessary to make the statements therein not misleading in light of the circumstances in which they were made, if such statement
or omission was made in reliance upon information furnished in writing by the Trust to the Company; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) arise out of or are based upon wrongful conduct
of the Trust or its Trustees or officers with respect to the sale of Trust shares; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) arise as a result of any failure by the Trust
to provide services, furnish materials or make payments as required under the terms of this Agreement; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) arise out of any material breach by the Trust
of this Agreement (including any breach of Section 6.1 of this Agreement and any warranties contained in Article III hereof);

it being understood that in no way shall the Trust be liable to the Company with respect to any violation of insurance law, compliance with which is a responsibility of the Company under this Agreement or otherwise or as to which the Company failed to inform the Trust in accordance with Section 4.4 hereof. This indemnification is in addition to any liability that the Trust may otherwise have; provided, however, that no party shall be entitled to indemnification if such loss, claim, damage or liability is caused by the wilful misfeasance, bad faith, gross negligence or reckless disregard of duty by the party seeking indemnification.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**9.3. Indemnification by the Distributor.** The Distributor hereby agrees to, and shall, indemnify and hold harmless the Company and each person who controls or is affiliated with the Company within the meaning of such terms under the 1933 Act or 1940 Act and any officer, director, employee or agent of the foregoing, against any and all losses, claims, damages or liabilities, joint or several (including any investigative, legal and other expenses reasonably incurred in connection with, and any amounts paid in settlement of, any action, suit or proceeding or any claim asserted), to which they or any of them may become subject under any statute or regulation, at common law or otherwise, insofar as such losses, claims, damages or liabilities:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) arise out of or are based upon any untrue statement
of any material fact contained in the Trust Registration Statement, any Prospectus for Series or Classes or sales literature or other
promotional material of the Trust (or any amendment or supplement to any of the foregoing), or arise out of or are based upon the omission
to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading in light of
the circumstances in which they were made; provided that this obligation to indemnify shall not apply if such statement or omission was
made in reliance upon and in conformity with information furnished in writing by the Company to the Trust or Distributor for use in the
Trust Registration Statement, Trust Prospectus or sales literature or promotional material for the Trust (or any amendment or supplement
to any of the foregoing) or otherwise for use in connection with the sale of the Contracts or Trust shares; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) arise out of any untrue statement of a material
fact contained in the Contracts Registration Statement, Contracts Prospectus or sales literature or other promotional material for the
Contracts (or any amendment or supplement to any of the foregoing), or the omission to state therein a material fact required to be stated
therein or necessary to make the statements therein not misleading in light of the circumstances in which they were made, if such statement
or omission was made in reliance upon information furnished in writing by the Distributor to the Company; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) arise out of or are based upon wrongful conduct
of the Trust, the Distributor or persons under their respective control with respect to the sale of Trust shares; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) arise as a result of any failure by the Trust,
the Distributor or persons under their respective control to provide services, furnish materials or make payments, if any, as required
under the terms of this Agreement; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) arise out of any material breach by the Trust,
the Distributor or persons under their respective control of this Agreement (including any breach of Section 6.1 of this Agreement and
any warranties contained in Article III hereof);

it being understood that in no way shall the Distributor be liable to the Company with respect to any violation of insurance law, compliance with which is a responsibility of the Company under this Agreement or otherwise or as to which the Company failed to inform the Distributor in accordance with Section 4.4 hereof. This indemnification is in addition to any liability that the Distributor may otherwise have; provided, however, that no party shall be entitled to indemnification if such loss, claim, damage or liability is caused by the wilful misfeasance, bad faith, gross negligence or reckless disregard of duty by the party seeking indemnification.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**9.4. Rule of Construction.** It is the parties' intention that, in the event of an occurrence for which the Trust has agreed to indemnify the Company, the Company shall seek indemnification from the Trust only in circumstances in which the Trust is entitled to seek indemnification from a third party with respect to the same event or cause thereof.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**9.5. Indemnification Procedures.** After receipt by a party entitled to indemnification ("indemnified party") under this Article IX of notice of the commencement of any action, if a claim in respect thereof is to be made by the indemnified party against any person obligated to provide indemnification under this Article IX ("indemnifying party"), such indemnified party will notify the indemnifying party in writing of the commencement thereof as soon as practicable thereafter, provided that the omission to so notify the indemnifying party will not relieve it from any liability under this Article IX, except to the extent that the omission results in a failure of actual notice to the indemnifying party and such indemnifying party is damaged solely as a result of the failure to give such notice. The indemnifying party, upon the request of the indemnified party, shall retain counsel reasonably satisfactory to the indemnified party to represent the indemnified party and any others the indemnifying party may designate in such proceeding and shall pay the reasonable fees and disbursements of such counsel related to such proceeding. In any such proceeding, any indemnified party shall have the right to retain its own counsel, but the fees and expenses of such counsel shall be at the expense of such indemnified party unless (i) the indemnifying party and the indemnified party shall have mutually agreed to the retention of such counsel or (ii) the named parties to any such proceeding (including any impleaded parties) include both the indemnifying party and the indemnified party and representation of both parties by the same counsel would be inappropriate due to actual or potential differing interests between them. The indemnifying party shall not be liable for any settlement of any proceeding effected without its written consent but if settled with such consent or if there be a final judgment for the plaintiff, the indemnifying party agrees to indemnify the indemnified party from and against any loss or liability by reason of such settlement or judgment.

A successor by law of the parties to this Agreement shall be entitled to the benefits of the indemnification contained in this Article IX. The indemnification provisions contained in this Article IX shall survive any termination of this Agreement.

**ARTICLE X**

**Relationship of the Parties; Termination**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**10.1. Relationship of Parties.** The Company is to be an independent contractor vis-avis the Trust, the Distributor, or any of their affiliates for all purposes hereunder and will have no authority to act for or represent any of them (except to the limited extent the Company acts as agent of the Trust pursuant to Section 2.3(a) of this Agreement). In addition, no officer or employee of the Company will be deemed to be an employee or agent of the Trust, Distributor, or any of their affiliates. The Company will not act as an "underwriter" or "distributor" of the Trust, as those terms variously are used in the 1940 Act, the 1933 Act, and rules and regulations promulgated thereunder.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**10.2. Non-Exclusivity and Non-Interference.** The parties hereto acknowledge that the arrangement contemplated by this Agreement is not exclusive; the Trust shares may be sold to other insurance companies and investors (subject to Section 2.8 hereof) and the cash value of the Contracts may be invested in other investment companies, provided, however, that until this Agreement is terminated pursuant to this Article X:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) the Company shall promote the Trust and the Funds
made available hereunder on the same basis as other funding vehicles available under the Contracts;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) the Company shall not, without prior notice to
the Distributor (unless otherwise required by applicable law), take any action to operate the Account as a management investment company
under the 1940 Act;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) the Company shall not, without the prior written
consent of the Distributor (unless otherwise required by applicable law), solicit, induce or encourage Contract Owners to change or modify
the Trust to change the Trust's distributor or investment adviser, to transfer or withdraw Contract Values allocated to a Fund,
or to exchange their Contracts for contracts not allowing for investment in the Trust;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) the Company shall not substitute another investment
company for one or more Funds without providing written notice to the Distributor at least 60 days in advance of effecting any such substitution;
and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) the Company shall not withdraw the Account's
investment in the Trust or a Fund of the Trust except pursuant to Section 10.5 or 10.6, or as necessary to facilitate Contract Owner requests
and routine Contract processing.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**10.3. Termination of Agreement.** This Agreement shall not terminate until (i) the Trust is dissolved, liquidated, or merged into another entity, or (ii) as to any Fund that has been made available hereunder, the Account no longer invests in that Fund and the Company has confirmed in writing to the Distributor, if so requested by the Distributor, that it no longer intends to invest in such Fund. However, certain obligations of, or restrictions on, the parties to this Agreement may terminate as provided in Sections 10.4 through 10.6 and the Company may be required to redeem Trust shares pursuant to Section 10.7 or in the circumstances contemplated by Article VIII. Article IX and Sections 5.7, 10.8 and 10.9 shall survive any termination of this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**10.4. Termination of Offering of Trust Shares.** The obligation of the Trust and the Distributor to make Trust shares available to the Company for purchase pursuant to Article II of this Agreement shall terminate at the option of the Distributor upon written notice to the Company as provided below:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) upon institution of formal proceedings against
the Company, or the Distributor's reasonable determination that institution of such proceedings is being considered by the NASD,
the SEC, the insurance commission of any state or any other regulatory body regarding the Company's duties under this Agreement
or related to the sale of the Contracts, the operation of the Account, the administration of the Contracts or the purchase of Trust shares,
or an expected or anticipated ruling, judgment or outcome which would, in the Distributor's reasonable judgment exercised in good
faith, materially impair the Company's or Trust's ability to meet and perform the Company's or Trust's obligations
and duties hereunder, such termination effective upon 15 days prior written notice;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) in the event any of the Contracts are not registered,
issued or sold in accordance with applicable federal and/or state law, such termination effective immediately upon receipt of written
notice;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) if the Distributor shall determine, in its sole
judgment exercised in good faith, that either (1) the Company shall have suffered a material adverse change in its business or financial
condition or (2) the Company shall have been the subject of material adverse publicity which is likely to have a material adverse impact
upon the business and operations of either the Trust or the Distributor, such termination effective upon 30 days prior written notice;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) if the Distributor suspends or terminates the
offering of Trust shares of any Series or Class to all Participating Investors or only designated Participating Investors, if such action
is required by law or by regulatory authorities having jurisdiction or if, in the sole discretion of the Distributor acting in good faith,
suspension or termination is necessary in the best interests of the shareholders of any Series or Class (it being understood that "shareholders"
for this purpose shall mean Product Owners), such notice effective immediately upon receipt of written notice, it being understood that
a lack of Participating Investor interest in a Series or Class may be grounds for a suspension or termination as to such Series or Class
and that a suspension or termination shall apply only to the specified Series or Class;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) upon the Company's assignment of this Agreement
(including, without limitation, any transfer of the Contracts or the Account to another insurance company pursuant to an assumption reinsurance
agreement) unless the Trust consents thereto, such termination effective upon 30 days prior written notice;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) if the Company is in material breach of any provision
of this Agreement, which breach has not been cured to the satisfaction of the Trust within 10 days after written notice of such breach
has been delivered to the Company, such termination effective upon expiration of such 10-day period; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g) upon the determination of the Trust's Board
to dissolve, liquidate or merge the Trust as contemplated by Section 10.3(i), upon termination of the Agreement pursuant to Section 10.3(ii),
or upon notice from the Company pursuant to Section 10.5 or 10.6, such termination pursuant hereto to be effective upon 15 days prior
written notice.

Except in the case of an option exercised under clause (b), (d) or (g), the obligations shall terminate only as to new Contracts and the Distributor shall continue to make Trust shares available to the extent necessary to permit owners of Contracts in effect on the effective date of such termination (hereinafter referred to as "Existing Contracts") to reallocate investments in the Trust, redeem investments in the Trust and/or invest in the Trust upon the making of additional purchase payments under the Existing Contracts,

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**10.5. Termination of Investment in a Fund.** The Company may elect to cease investing in a Fund, promoting a Fund as an investment option under the Contracts, or withdraw its investment or the Account's investment in a Fund, subject to compliance with applicable law, upon written notice to the Trust within 15 days of the occurrence of any of the following events (unless provided otherwise below):

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) if the Trust informs the Company pursuant to
Section 4.4 that it will not cause such Fund to comply with investment restrictions as requested by the Company and the Trust and the
Company are unable to agree upon any reasonable alternative accommodations;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) if shares in such Fund are not reasonably available
to meet the requirements of the Contracts as determined by the Company (including any non-availability as a result of notice given by
the Distributor pursuant to Section 10.4(d)), and the Distributor, after receiving written notice from the Company of such nonavailability,
fails to make available, within 10 days after receipt of such notice, a sufficient number of shares in such Fund or an alternate Fund
to meet the requirements of the Contracts; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) if such Fund fails to meet the diversification
requirements specified in Section 817(h) of the Code and any regulations thereunder and the Trust, upon written request, fails to provide
reasonable assurance that it will take action to cure or correct such failure;

Such termination shall apply only as to the affected Fund and shall not apply to any other Fund in which the Company or the Account invests.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**10.6. Termination of Investment by the Company.** The Company may elect to cease investing in all Series or Classes of the Trust made available hereunder, promoting the Trust as an investment option under the Contracts, or withdraw its investment or the Account's investment in the Trust, subject to compliance with applicable law, upon written notice to the Trust within 15 days of the occurrence of any of the following events (unless provided otherwise below):

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) upon institution of formal proceedings against
the Trust or the Distributor (but only with regard to the Trust) by the NASD, the SEC or any state securities or insurance commission
or any other regulatory body;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) if, with respect to the Trust or a Fund, the
Trust or the Fund ceases to qualify as a regulated investment company under Subchapter M of the Code, as defined therein, or any successor
or similar provision, or if the Company reasonably believes that the Trust may fail to so qualify, and the Trust, upon written request,
fails to provide reasonable assurance that it will take action to cure or correct such failure within 30 days; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) if the Trust or Distributor is in material breach
of a provision of this Agreement, which breach has not been cured to the satisfaction of the Company within 10 days after written notice
of such breach has been delivered to the Trust or the Distributor, as the case may be.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**10.7. Company Required to Redeem.** The parties understand and acknowledge that it is essential for compliance with Section 817(h) of the Code that the Contracts qualify as annuity contracts or life insurance policies, as applicable, under the Code. Accordingly, if any of the Contracts cease to qualify as annuity contracts or life insurance policies, as applicable, under the Code, or if the Trust reasonably believes that any such Contracts may fail to so qualify, the Trust shall have the right to require the Company to redeem Trust shares attributable to such Contracts upon notice to the Company and the Company shall so redeem such Trust shares in order to ensure that the Trust complies with the provisions of Section 817(h) of the Code applicable to ownership of Trust shares. Notice to the Company shall specify the period of time the Company has to redeem the Trust shares or to make other arrangements satisfactory to the Trust and its counsel, such period of time to be determined with reference to the requirements of Section 817(h) of the Code. In addition, the Company may be required to redeem Trust shares pursuant to action taken or request made by the Trust Board in accordance with the Exemptive Order described in Article VIII or any conditions or undertakings set forth or referenced therein, or other SEC rule, regulation or order that may be adopted after the date hereof. The Company agrees to redeem shares in the circumstances described herein and to comply with applicable terms and provisions. Also, in the event that the Distributor suspends or terminates the offering of a Series or Class pursuant to Section 10.4(d) of this Agreement, the Company, upon request by the Distributor, will cooperate in taking appropriate action to withdraw the Account's investment in the respective Fund.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**10.8. Minimum Investment.** The Company acknowledges its intention to make the selected Funds of the Trust available under the Contracts for a significant period of time and acknowledges further that a termination of this Agreement or the availability of a Fund would prevent the Trust from benefitting from the anticipated economies of scale and the Distributor from recovering its up-front costs in establishing the systems and interface required under the terms of this Agreement. Accordingly, in the event that the Company withdraws all or substantially all of its investment in the Trust or a Fund less than three years after the initial investment in the Trust or Fund (other than in response to actions by the Distributor pursuant to Section 10.4(d) of this Agreement), the Company, upon request, shall reimburse the Distributor for reasonably identifiable costs attributable to the start-up of the Trust or Fund, as applicable, and establishing the systems and interface contemplated by this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**10.9. Confidentiality.** The Company will keep confidential any information acquired as a result of this Agreement regarding the business and affairs of the Trust, the Distributor, and their affiliates.

**ARTICLE XI**

**Applicability to New Accounts and New Contracts**

The parties to this Agreement may amend the schedules to this Agreement from time to time to reflect, as appropriate, changes in or relating to the Contracts, any Series or Class, additions of new classes of Contracts to be issued by the Company and separate accounts therefor investing in the Trust. Such amendments may be made effective by executing the form of amendment included on each schedule attached hereto. The provisions of this Agreement shall be equally applicable to each such class of Contracts, Series, Class or separate account, as applicable, effective as of the date of amendment of such Schedule, unless the context otherwise requires. The parties to this Agreement may amend this Agreement from time to time by written agreement signed by all of the parties.

**ARTICLE XII** 

**Notice, Request or Consent**

Any notice, request or consent to be provided pursuant to this Agreement is to be made in writing and shall be given:

If to the Trust:

Douglas C. Grip

President

Goldman Sachs Variable Insurance Trust

One New York Plaza

New York, NY 10004

If to the Distributor:

Douglas C. Grip

Vice President

Goldman Sachs & Co.

One New York Plaza

New York, NY 10004

If to the Company:

John J. Palmer

Senior Vice President

The Ohio National Life Insurance Company

One Financial Way

Cincinnati, OH 45242

or at such other address as such party may from time to time specify in writing to the other party. Each such notice, request or consent to a party shall be sent by registered or certified United States mail with return receipt requested or by overnight delivery with a nationally recognized courier, and shall be effective upon receipt. Notices pursuant to the provisions of Article II may be sent by facsimile to the person designated in writing for such notices.

**ARTICLE XIII** 

**Miscellaneous**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**13.1. Interpretation.** This Agreement shall be construed and the provisions hereof interpreted under and in accordance with the laws of the state of Delaware, without giving effect to the principles of conflicts of laws, subject to the following rules:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) This Agreement shall be subject to the provisions
of the 1933 Act, 1940 Act and Securities Exchange Act of 1934, as amended, and the rules, regulations and rulings thereunder, including
such exemptions from those statutes, rules, and regulations as the SEC may grant, and the terms hereof shall be limited, interpreted and
construed in accordance therewith.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) The captions in this Agreement are included for
convenience of reference only and in no way define or delineate any of the provisions hereof or otherwise affect their construction or
effect.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) If any provision of this Agreement shall be held
or made invalid by a court decision, statute, rule or otherwise, the remainder of the Agreement shall not be affected thereby.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) The rights, remedies and obligations contained
in this Agreement are cumulative and are in addition to any and all rights, remedies and obligations, at law or in equity, which the parties
hereto are entitled to under state and federal laws.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**13.2. Counterparts.** This Agreement may be executed simultaneously in two or more counterparts, each of which together shall constitute one and the same instrument.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**13.3. No Assignment.** Neither this Agreement nor any of the rights and obligations hereunder may be assigned by the Company, the Distributor or the Trust without the prior written consent of the other parties.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**13.4. Declaration of Trust.** A copy of the Declaration of Trust of the Trust is on tile with the Secretary of State of the state of Delaware, and notice is hereby given that this instrument is executed on behalf of the Trustees of the Trust as trustees, and is not binding upon any of the Trustees, officers or shareholders of the Trust individually, but binding only upon the assets and property of the Trust. No Series of the Trust shall be liable for the obligations of any other Series of the Trust.

IN WITNESS WHEREOF, each of the parties hereto has caused this Agreement to be executed in its name and behalf by its duly authorized officer on the date specified below.

---

| | | |
|:---|:---|:---|
| | GOLDMAN SACHS VARIABLE INSURANCE TRUST<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Trust) | GOLDMAN SACHS VARIABLE INSURANCE TRUST<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Trust) |
| Date: | By: | /s/ Michael Richman |
|  |  | Name: Michael Richman |
|  |  | Title: Secretary |
|  | GOLDMAN, SACHS & CO. | GOLDMAN, SACHS & CO. |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Distributor) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Distributor) |
| Date: | By: |  |
|  |  | Name: |
|  |  | Title: Vice President |
|  | THE OHIO NATIONAL LIFE INSURANCE COMPANY<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Company) | THE OHIO NATIONAL LIFE INSURANCE COMPANY<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Company) |
| Date: | By: | /s/ John J. Palmer |
|  |  | Name: John J. Palmer |
|  |  | Title: Senior Vice President |

---

**Schedule 1**

Accounts of the Company

Investing in the Trust

Effective as of the date the Agreement was executed, the following separate accounts of the Company are subject to the Agreement:

---

| | | | |
|:---|:---|:---|:---|
| Name of Account and Subaccounts | Date Established by Board of Directors of the Company | SEC 1940 Act Registration Number | Type of Product Supported by Account |
| Ohio National<br> Variable Account A | August 1, 1969 | 811-1978 | Variable Annuity |

---

[Form of Amendment to Schedule 1]

Effective as of ________, the following separate accounts of the Company are hereby added to this Schedule 1 and made subject to the Agreement:

---

| | | | |
|:---|:---|:---|:---|
| Name of Account and Subaccounts | Date Established by Board of Directors of the Company | SEC 1940 Act Registration Number | Type of Product Supported by Account |

---

IN WITNESS WHEREOF, the Trust, the Distributor and the Company hereby amend this Schedule 1 in accordance with Article XI of the Agreement.

---

| | |
|:---|:---|
| Goldman Sachs Variable Insurance Trust | The Ohio National Life Insurance Company |
| Goldman, Sachs & Co. |  |

---

**<u>Schedule 2</u>**

Classes of Contracts

Supported by Separate Accounts

Listed on Schedule 1

Effective as of the date the Agreement was executed, the following classes of Contracts are subject to the Agreement:

---

| | | | |
|:---|:---|:---|:---|
| Policy Marketing Name | SEC 1933 Act<br> Registration Number | Contract Form Number | Annuity or Life |
| ONcore Flex | 333-43511 | 98-VA-4 | Annuity |
| ONcore Premier | 333-43515 | 98-VA-2 | Annuity |
| ONcore Value | 333-43513 | 98-VA-3 | Annuity |
| Investor Vision and Top Spectrum | 333-10907 |  | Annuity |

---

[Form of Amendment to Schedule 2]

Effective as of ______, the following classes of Contracts are hereby added to this Schedule 2 and made subject to the Agreement:

---

| | | | |
|:---|:---|:---|:---|
| Policy Marketing Name | SEC 1933 Act<br> Registration Number | Name of Supporting Account | Annuity or Life |

---

IN WITNESS WHEREOF, the Trust, the Distributor and the Company hereby amend this Schedule 2 in accordance with Article XI of the Agreement.

---

| | |
|:---|:---|
| Goldman Sachs Variable Insurance Trust | The Ohio National Life Insurance Company |
| Goldman, Sachs & Co. |  |

---

**<u>Schedule 3</u>**

Trust Classes and Series

Available Under

Each Class of Contracts

Effective as of the date the Agreement was executed, the following Trust Classes and Series are available under the Contracts:

<u>Contracts Marketing Name</u> <u>Trust Classes and Series</u> <br> <u>ONcore Flex, ONcore Premier and ONcore Value</u> <u>Growth and Income Fund, CORE U.S. Equity Fund, Capital Growth Fund and Global Income Fund</u> <br> <u>Investor Vision and Top Spectrum</u> <u>Capital Growth Fund</u>

[Form of Amendment to Schedule 3]

Effective as of _______________, this Schedule 3 is hereby amended to reflect the following changes in Trust Classes and Series:

---

| | |
|:---|:---|
| Contracts Marketing Name | Trust Classes and Series |

---

IN WITNESS WHEREOF, the Trust, the Distributor and the Company hereby amend this Schedule 3 in accordance with Article XI of the Agreement.

---

| | |
|:---|:---|
| Goldman Sachs Variable Insurance Trust | The Ohio National Life Insurance Company |
| Goldman, Sachs & Co. |  |

---

**<u>Schedule 4</u>**

Investment Restrictions

Applicable to the Trust

Effective as of the date the Agreement was executed, the following investment restrictions are applicable to the Trust:

[Form of Amendment to Schedule 4]

Effective as of __________________, this Schedule 4 is hereby amended to reflect the following changes:

IN WITNESS WHEREOF, the Trust, the Distributor and the Company hereby amend this Schedule 4 in accordance with Article XI of the Agreement.

---

| | |
|:---|:---|
| Goldman Sachs Variable Insurance Trust | The Ohio National Life Insurance Company |
| Goldman, Sachs & Co. |  |

---

**FIRST AMENDMENT TO** 

**THE PARTICIPATION AGREEMENT** 

**AMONG**

**THE OHIO NATIONAL LIFE INSURANCE COMPANY** 

**GOLDMAN SACHS VARIABLE INSURANCE TRUST** 

**AND**

**GOLDMAN SACHS & CO.**

This is the First Amendment to Goldman Sachs Participation Agreement dated the 1st day of May, 1998, by and among GOLDMAN SACHS VARIABLE INSURANCE TRUST, statutory trust formed under the laws of Delaware (the "Trust"), GOLDMAN, SACHS & CO., a New York limited partnership (the "Distributor"), and THE OHIO NATIONAL LIFE INSURANCE COMPANY a Ohio life insurance company (the "Company"), on its own behalf and on behalf of each separate account of the Company identified herein (the "Agreement"). This amendment is to be effective on April 23, 2008 (the "Amendment").

WHEREAS, the Trust, the Distributor, and the Company desire to amend the Agreement to include Ohio National Life Assurance Corporation as a party and desire to amend Schedule 3 of the Agreement.

NOW, THEREFORE, in consideration of the foregoing and the mutual covenants and agreement hereinafter contained, the parties hereby agree to amend the Agreement and Schedule 3, pursuant to the terms of the Agreement as follows:

I. 1. Ohio National Life Assurance Corporation, an Ohio life insurance company, is hereby added as a party to the Agreement. All references to the "Company" in the Agreement shall be deemed to include Ohio National Life Assurance Corporation.

2. Capitalized terms not otherwise defined herein shall have the meaning ascribed to such terms in the Agreement.

3. Schedule 3 of the Participation Agreement is hereby deleted in its entirety and replaced with the following:

[this section of the amendment intentionally left blank]

**<u>Schedule 3</u>**

Trust Classes and Series

Available Under

Each Class of Contracts

Effective as of April 23, 2008, the following Trust Classes and Series are available under the Contracts:

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;**Contracts Marketing Name** | **Trust Classes and Series** |
| Vari-Vest I<br> Vari-Vest II<br> Vari-Vest III<br> Vari-Vest IV<br> Vari-Vest V<br> GP VUL<br> Vari-Vest Asset Builder<br> Vari-Vest Survivor<br> ONcore Xtra<br> ONcore Value<br> ONcore Premier<br> ONcore Lite<br> ONcore Flex<br> ONcore Ultra<br> ONcore Wrap<br> Top Plus A<br> Top Plus B<br> Top Explorer | All available Goldman Sachs Variable Insurance Trust Funds (Service and Institutional Shares) |

---

<u> Top Tradition A Top Tradition B Investar Vision/Top Spectrum Top 1 A Top 1 B Retirement Advantage Pension Advantage Portfolio Advantage Performance Advantage PAC I PAC II</u>  

IN WITNESS WHEREOF, the Trust, the Distributor, and the Company hereby amend this Agreement thereto. This Amendment shall take effect on April 23, 2008.

---

| | |
|:---|:---|
| GOLDMAN SACHS VARIABLE | GOLDMAN SACHS VARIABLE |
| INSURANCE TRUST | INSURANCE TRUST |
| (Trust) | (Trust) |
| By: | /s/ Scott Kilgallen |
| Name: | Scott Kilgallen |
| Title: | Managing Director |
| GOLDMAN, SACHS & CO. | GOLDMAN, SACHS & CO. |
| (Distributor) | (Distributor) |
| By: | /s/ Scott Kilgallen |
| Name: | Scott Kilgallen |
| Title: | Managing Director |
| THE OHIO NATIONAL LIFE INSURANCE COMPANY | THE OHIO NATIONAL LIFE INSURANCE COMPANY |
| (Company) | (Company) |
| By: | /s/ John J. Palmer |
| Name: | John J. Palmer |
| Title: | Vice Chairman |
| OHIO NATIONAL LIFE ASSURANCE CORPORATION | OHIO NATIONAL LIFE ASSURANCE CORPORATION |
| (Company) | (Company) |
| By: | /s/ John J. Palmer |
| Name: | John J. Palmer |
| Title: | Vice Chairman |

---

## Exhibit 99.30

**FIRST AMENDMENT TO** 

**THE PARTICIPATION AGREEMENT** 

**AMONG**

**THE OHIO NATIONAL LIFE INSURANCE COMPANY** 

**GOLDMAN SACHS VARIABLE INSURANCE TRUST** 

**AND**

**GOLDMAN SACHS & CO.**

This is the First Amendment to Goldman Sachs Participation Agreement dated the 1st day of May, 1998, by and among GOLDMAN SACHS VARIABLE INSURANCE TRUST, statutory trust formed under the laws of Delaware (the "Trust"), GOLDMAN, SACHS & CO., a New York limited partnership (the "Distributor"), and THE OHIO NATIONAL LIFE INSURANCE COMPANY a Ohio life insurance company (the "Company"), on its own behalf and on behalf of each separate account of the Company identified herein (the "Agreement"). This amendment is to be effective on April 23, 2008 (the "Amendment").

WHEREAS, the Trust, the Distributor, and the Company desire to amend the Agreement to include Ohio National Life Assurance Corporation as a party and desire to amend Schedule 3 of the Agreement.

NOW, THEREFORE, in consideration of the foregoing and the mutual covenants and agreement hereinafter contained, the parties hereby agree to amend the Agreement and Schedule 3, pursuant to the terms of the Agreement as follows:

I. 1. Ohio National Life Assurance Corporation, an Ohio life insurance company, is hereby added as a party to the Agreement. All references to the "Company" in the Agreement shall be deemed to include Ohio National Life Assurance Corporation.

2. Capitalized terms not otherwise defined herein shall have the meaning ascribed to such terms in the Agreement.

3. Schedule 3 of the Participation Agreement is hereby deleted in its entirety and replaced with the following:

[this section of the amendment intentionally left blank]

**<u>Schedule 3</u>**

Trust Classes and Series

Available Under

Each Class of Contracts

Effective as of April 23, 2008, the following Trust Classes and Series are available under the Contracts:

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;**Contracts Marketing Name** | **Trust Classes and Series** |
| Vari-Vest I<br> Vari-Vest II<br> Vari-Vest III<br> Vari-Vest IV<br> Vari-Vest V<br> GP VUL<br> Vari-Vest Asset Builder<br> Vari-Vest Survivor<br> ONcore Xtra<br> ONcore Value<br> ONcore Premier<br> ONcore Lite<br> ONcore Flex<br> ONcore Ultra<br> ONcore Wrap<br> Top Plus A<br> Top Plus B<br> Top Explorer | All available Goldman Sachs Variable Insurance Trust Funds (Service and Institutional Shares) |

---

<u> Top Tradition A Top Tradition B Investar Vision/Top Spectrum Top 1 A Top 1 B Retirement Advantage Pension Advantage Portfolio Advantage Performance Advantage PAC I PAC II</u>  

IN WITNESS WHEREOF, the Trust, the Distributor, and the Company hereby amend this Agreement thereto. This Amendment shall take effect on April 23, 2008.

---

| | |
|:---|:---|
| GOLDMAN SACHS VARIABLE | GOLDMAN SACHS VARIABLE |
| INSURANCE TRUST | INSURANCE TRUST |
| (Trust) | (Trust) |
| By: | /s/ Scott Kilgallen |
| Name: | Scott Kilgallen |
| Title: | Managing Director |
| GOLDMAN, SACHS & CO. | GOLDMAN, SACHS & CO. |
| (Distributor) | (Distributor) |
| By: | /s/ Scott Kilgallen |
| Name: | Scott Kilgallen |
| Title: | Managing Director |
| THE OHIO NATIONAL LIFE INSURANCE COMPANY | THE OHIO NATIONAL LIFE INSURANCE COMPANY |
| (Company) | (Company) |
| By: | /s/ John J. Palmer |
| Name: | John J. Palmer |
| Title: | Vice Chairman |
| OHIO NATIONAL LIFE ASSURANCE CORPORATION | OHIO NATIONAL LIFE ASSURANCE CORPORATION |
| (Company) | (Company) |
| By: | /s/ John J. Palmer |
| Name: | John J. Palmer |
| Title: | Vice Chairman |

---

## Exhibit 99.30

**PARTICIPATION AGREEMENT** 

**The Ohio National Life Insurance Company** 

**Ohio National Life Assurance Corporation**

This Participation Agreement ("Agreement"), dated as of the 22nd day of September, 2008, is made by and between THE OHIO NATIONAL LIFE INSURANCE COMPANY and OHIO NATIONAL LIFE ASSURANCE CORPORATION (collectively, the "Company"), on behalf of itself and each of the separate accounts identified on Exhibit A, which is attached hereto, as the parties hereto may amend from time to time ("Variable Accounts"), WADDELL & REED, INC. ("W&R"), distributor for Ivy Funds Variable Insurance Portfolios, Inc., and IVY FUNDS VARIABLE INSURANCE PORTFOLIOS, INC. ("Ivy Funds VIP").

WHEREAS, Ivy Funds VIP is registered with the Securities and Exchange Commission ("SEC") as an open-end management investment company under the Investment Company Act of 1940, as amended ("1940 Act"), and currently consists of the separately managed series identified on Exhibit B, which is attached hereto and may be unilaterally amended from time to time by W&R and/or Ivy Funds VIP in their sole and exclusive discretion upon written notice to Company (each a "Portfolio"); and

WHEREAS, the Portfolios are currently sold to one or more separate accounts of life insurance companies to fund benefits under variable life insurance policies and/or variable annuity contacts ("Participating Insurance Companies"); and

WHEREAS, Company, W&R and Ivy Funds VIP mutually desire the inclusion of the Portfolios as underlying investment media for each of the variable life insurance policies and/or variable annuity contracts issued by Company identified on Exhibit A, which is attached hereto, as the parties hereto may amend from time to time (collectively, the "Contracts"); and

WHEREAS, the Contracts allow for the allocation of net amounts received by Company to separate sub-accounts of the Variable Accounts for investment in shares of the Portfolios and other similar funds; and

WHEREAS, selection of a particular sub-account (corresponding to a particular Portfolio) is made by the owner of a Contract ("Contract Owner") and such Contract Owner may reallocate their investment options among the sub-accounts of the Variable Accounts in accordance with the terms of the Contracts.

NOW THEREFORE, Company, W&R and Ivy Funds VIP, in consideration of the promises and undertakings described herein, agree as follows:

&nbsp;&nbsp;&nbsp;&nbsp;I. <u>SCOPE OF AGREEMENT</u>. The scope of this Agreement is limited to the purchase of Portfolio shares
by the Variable Accounts on behalf of purchasers of the Contracts.

&nbsp;&nbsp;&nbsp;&nbsp;2. <u>REPRESENTATIONS OF COMPANY</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Company represents and warrants that the Variable
Accounts have been established and are in good standing under the laws of their states of organization; and the Variable Accounts have
been registered as unit investment trusts under the 1940 Act and will remain so registered, or are exempt from registration pursuant to
Section 3(c)(11) of the 1940 Act;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Company represents and warrants that it is an
insurance company duly organized and in good standing under the laws of its state of incorporation and that it has legally and validly
established each Variable Account as a segregated asset account under applicable state insurance laws and the regulations thereunder.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) Company represents and warrants that (i) prior
to and at the time of any issuance or sale of Portfolio shares, the Contracts will be registered under the Securities Act of 1933, as
amended ("1933 Act"), unless exempt from such registration, (ii) prior to and at the time of any issuance or sale of Portfolio
shares, the Contracts will be duly authorized for issuance and sold in all material respects in compliance with all applicable federal
and state laws, including, without limitation, the 1933 Act, the Securities Exchange Act of 1934 ("1934 Act"), the 1940 Act
and the law(s) of Company's state(s) of organization and domicile, (iii) each Variable Account does and will comply in all material
respects with the requirements of the 1940 Act and the rules thereunder, unless exempt from such requirements, (iv) each Variable Account's
1933 Act registration statement relating to the Contracts, together with any amendments thereto, will at all times comply in all material
respects with the requirements of the 1933 Act and the rules thereunder, (v) Company will amend the registration statement for its Contracts
under the 1933 Act and for its Variable Accounts under the 1940 Act from time to time as required in order to effect the continuous offering
of its Contracts or as may otherwise be required by applicable law, and (vi) each Variable Account prospectus, Statement of Additional
Information ("SAP"), and then-current stickers, will at all times comply in all material respects with the applicable requirements
of the 1933 Act and the rules thereunder.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) Company represents that each Variable Account
is a "segregated asset account" and that interests in each Variable Account are offered exclusively through the purchase of
a "variable contract", within the meaning of such terms under Section 817 of the Internal Revenue Code of 1986, as amended
("Code"), and Section 1.817-5(f)(2) of the Federal Tax Regulations, that it shall make every effort to continue to meet such
definitional requirements, and that it shall notify W&R and Ivy Funds VIP immediately upon having a reasonable basis for believing
that such requirements have ceased to be met or that they may not be met in the future.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) Company represents that the Contracts are currently,
and at the time of issuance will be, treated as annuity contracts or life insurance policies, whichever is appropriate under applicable
provisions of the Code, and that it shall make every effort to maintain such treatment. Company will promptly notify W&R and Ivy Funds
VIP upon having a reasonable basis for believing that the Contracts have ceased to be treated as annuity contracts or life insurance polices,
or that the Contracts may not be so treated in the future.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) Company represents that it has established such
rules and procedures as are necessary to ensure compliance with applicable federal, state and self-regulatory requirements relating to
the offering of the Contracts. W&R and Ivy Funds VIP explicitly disclaim any and all responsibility for the offer, sale, distribution
and/or servicing of the Contracts, except as otherwise specified in this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g) Company shall during the term of this Agreement
comply in all material respects with all laws, rules and regulations applicable to it in connection with the performance of each of its
obligations under this Agreement or applicable to the performance of its business, including, but not limited to, the requirements of
the USA Patriot Act of 2001 (the "AML Act") and related laws, rules and regulations.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h) To the extent one or more third parties are engaged
by Company to offer the Contracts and/or perform services that Company is responsible for under this Agreement (such parties include,
but are not limited to, affiliates of Company) ("Agents"), Company shall determine that each such Agent is capable of performing
such services, shall take measures as may be necessary to ensure that Agents perform such services in accordance with the requirements
of this Agreement and applicable law and shall bear full responsibility for, and assume all liability for (including any obligation for
indemnification as provided in Paragraph 13 hereof), the actions and inactions of such Agents as if such services had been provided by
Company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) From time to time, W&R and/or Ivy Funds VIP
may implement policies, procedures or requirements in an effort to comply with applicable legal requirements and/or avoid potential adverse
effects on the Portfolios. Company agrees to cooperate in good faith with W&R and/or Ivy Funds VIP in the implementation of any such
policies, procedures and/or requirements and agrees to comply with any and all requirements, restrictions and limitations described in
the Portfolios' Prospectus, including any restrictions or prohibitions relating to frequent purchases and redemptions of Portfolio
shares. Such cooperation shall include, but not be limited to, providing in accordance with the procedures set forth in Exhibit D, promptly
upon request by W&R and/or Ivy Funds VIP, names, taxpayer identification numbers and transaction information relating to Contract
Owners issuing instructions to the Company resulting in the purchase, redemption, transfer or exchange of Portfolio shares, executing
any instructions in accordance with the procedures set forth in Exhibit D from W&R and/or Ivy Funds VIP to restrict or prohibit any
further purchases or exchanges of Portfolio shares relating to any Contract Owner who has been identified by or on behalf of Ivy Funds
VIP as having engaged in transactions of Portfolio shares that violate policies established by Ivy Funds VIP for the purpose of eliminating
or reducing any dilution of the value of the outstanding securities issued by the Portfolio and taking such other remedial steps as are
requested by W&R and/or Ivy Funds VIP, all to the extent permitted or required by applicable law.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(j) Company represents that, during the term of this
Agreement, it will have in force adequate insurance coverage insuring the Company against potential liabilities associated with the underwriting
and distribution of the Contracts.

&nbsp;&nbsp;&nbsp;&nbsp;3. <u>AUTHORITY OF COMPANY</u>. Subject to the terms
and conditions of this Agreement, Company shall be authorized to, and agrees, to act as a limited agent of W&R for purposes of Rule
22c-l under the 1940 Act and to the extent permitted by applicable law, for the sole purpose of receiving instructions for the purchase
and redemption of Portfolio shares (from Contract Owners or participants making investment allocation decisions under the Contracts) prior
to the close of business of the New York Stock Exchange ("NYSE"), normally 3:00 p.m. Central Time ("Pricing Time")
each Business Day. "Business Day" shall mean any day on which the NYSE is open for trading and on which the Portfolios calculate
their net asset value as set forth in the Portfolios' most recent Prospectuses and SAIs. Except as particularly stated in this paragraph,
Company shall have no authority to act on behalf of W&R or Ivy Funds VIP or to incur any cost or liability on its behalf.

&nbsp;&nbsp;&nbsp;&nbsp;4. <u>AVAILABLE PORTFOLIOS</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) <u>AVAILABILITY</u>. Ivy Funds VIP will make
shares of the Portfolios available to Company and its Variable Accounts for purchase and redemption at the applicable net asset value
and with no sales charges on those days on which the Portfolios calculate their net asset value pursuant to the rules of the SEC, subject
to the terms and conditions of this Agreement Notwithstanding the foregoing, the Board of Directors of Ivy Funds VIP ("Board")
may refuse to sell shares of any Portfolio to any person or suspend or terminate the offering of shares of any Portfolio (a) if such action
is required by law or by regulatory authorities having jurisdiction, (b) if, in the sole discretion of the Board, acting in good faith
and in light of their fiduciary duties under federal and any applicable state laws, the Board deems such action to be in the best interests
of the shareholders of such Portfolio, or (c) if such action is required by any policies that the Board has adopted and that apply to
all Participating Insurance Companies. Further, it is acknowledged and agreed that the availability of Portfolio shares shall be subject
to Ivy Funds VIP's current Prospectus and SAI and to federal and state laws, rules and regulations.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) <u>ADDITION, DELETION OR MODIFICATION OF PORTFOLIOS</u>.
W&R and/or Ivy Funds VIP may, from time to time, add other Portfolios to provide additional funding media for the Contracts, or to
delete, combine or modify existing Portfolios, by amending Exhibit B hereto. W&R and/or Ivy Funds VIP reserve the right to amend Exhibit
B in their sole and exclusive discretion upon written notice to Company. Upon such amendment to Exhibit B, any applicable reference to
a Portfolio, Ivy Funds VIP or its shares herein shall include a reference to any such additional Portfolio.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) <u>NO SALES TO THE GENERAL PUBLIC.</u> Ivy Funds
VIP represents and warrants that shares of the Portfolios will be sold only to insurance companies and/or their separate accounts funding
variable life insurance policies and/or variable annuity contracts or to other persons or entities permitted under Section 817 of the
Code, or regulations promulgated thereunder. Ivy Funds VIP represents and warrants that no shares of any Portfolio have been or will be
sold to the general public.

&nbsp;&nbsp;&nbsp;&nbsp;5. <u>PROCESSING OF PORTFOLIO PURCHASE AND REDEMPTION REQUESTS</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) <u>PRICING INFORMATION.</u> Ivy Funds VIP or
its agents will use reasonable best efforts to provide closing net asset value, change in net asset value, dividend or daily accrual rate
information and capital gain information by 6:00 p.m. Central Time each Business Day to Company. Company shall use this data to calculate
unit values for its Variable Accounts. Unit values shall be used to process that same Business Day's Variable Account transactions.
In the event adjustments to transactions previously effected on behalf of a Variable Account are required to correct any material error
in the computation of the net asset value of a Portfolio's shares. Ivy Funds VIP or its agent shall notify Company as soon as practicable
after discovering the need for those adjustments which result in a reimbursement to a Variable Account in accordance with Ivy Funds VIP's
then current policies on reimbursement, which Ivy Funds VIP represents are consistent with applicable SEC standards. If an adjustment
is to be made in accordance with such policies to correct an error which has caused a Variable Account to receive an amount different
than that to which it is entitled, Ivy Funds VIP or its agent shall make all necessary adjustments to the number of shares owned in the
Variable Account and distribute to the Variable Account the amount of such underpayment for credit by the Company to affected Contract
Owners. The Company agrees to use its best efforts to minimize any costs incurred under this paragraph and shall provide W&R with
acceptable documentation of any such costs incurred.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) <u>PLACING OF ORDERS BY COMPANY</u>. Orders for
purchases or redemptions shall be placed by Company with W&R or its specified agent in a manner and format determined by W&R no
later than 8:30 a.m. Central Time on the following Business Day. The Company may place purchase and/or redemption orders on the following
Business Day for shares of the Portfolios that it receives prior to the Pricing Time each Business Day. The Company will not aggregate
pre-Pricing Time trades with post-Pricing Time trades. All orders shall be communicated by the Company through the National Securities
Clearing Corporation's ("NSCC") Fund/SERV system or via facsimile. The following information shall be supplied by the
Company at the time each order is placed: (i) total purchases for each Portfolio (including all purchase, exchange and transfer orders
received by the Company resulting in purchases of Portfolio shares); (ii) total redemptions for each Portfolio (including all redemption,
exchange and transfer orders received by the Company resulting in redemptions of Portfolio shares); and (iii) such other information required
by NSCC or reasonably requested by W&R.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) <u>PROCESSING OF ORDERS</u>. To the extent permitted
by applicable law, orders for shares of Portfolios received by Company prior to the Pricing Time on a Business Day and received by W&R
by 8:30 a.m. Central time on the following Business Day shall be executed at the time they are received by W&R and at the net asset
value price determined as of the close of trading on the previous Business Day, provided that Company represents it has received such
orders prior to the close of the NYSE on the previous Business Day. In connection with this Section 5(c), Company represents and warrants
that it will not submit any order for shares of a Portfolio or engage in any practice, nor will it allow any person acting on its behalf
to submit any order for shares of a Portfolio or engage in any practice, that would violate or cause a violation of Section 22 of the
1940 Act or Rule 22c-l thereunder. W&R will not accept any order made on a conditional basis or subject to any delay or contingency.
Company shall only place purchase orders for shares of Portfolios on behalf of its customers whose addresses recorded on Company's
books are in a state or other jurisdiction in which the Portfolios are registered or qualified for sale, or are exempt from registration
or qualification as confirmed in writing by W&R

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) <u>PAYMENT FOR SHARES</u>. Payment for net purchases
shall be settled via NSCC Fund/SERV or wired to a custodial account designated in writing by W&R and payment for net redemptions will
be wired to an account designated in writing by Company. Company will settle via NSCC Fund/SERV or wire payment for net purchases to a
custodian account designated by Ivy Funds VIP by 5:00 p.m. Central Time on the same day as the order for Portfolio shares is placed, to
the extent practicable. Ivy Funds VIP will wire payment for net redemptions to an account designated by Company by 5:00 p.m. Central Time
on the same day as the order is placed, to the extent practicable, but in any event within five (5) calendar days after the date the order
is placed in order to enable Company to pay redemption proceeds within the time specified in Section 22(e) of the 1940 Act or such period
of time as may be required by law. Net purchase orders are subject to cancellation at the option of W&R and/or Ivy Funds VIP in the
event that payment is not received within two (2) business days following receipt of the order by Ivy Funds VIP. Company shall indemnify
W&R and Ivy Funds VIP for any losses incurred in connection with a cancelled order.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) <u>DIVIDEND AND CAPITAL GAIN DISTRIBUTIONS</u>.
Dividends and capital gain distributions shall be reinvested in additional Portfolio shares at net asset value. Notwithstanding the above,
W&R shall not be held responsible for providing Company with ex-date net asset value, change in net asset value, dividend or capital
gain information when the NYSE is closed, when an emergency exists making the valuation of net assets not reasonably practicable, or during
any period when the SEC has by order permitted the suspension of pricing shares for the protection of shareholders. Ivy Funds VIP shall
furnish, on or before the ex-dividend date, notice to Company of any income dividends or capital gain distributions payable on the shares
of the Portfolios. Company hereby elects to receive all such income dividends and capital gain distributions as are payable on a Portfolio's
shares in additional shares of the Portfolio. Ivy Funds VIP shall notify Company of the number of shares so issued as payment of such
dividends and distributions.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) <u>ISSUANCE OF SHARES</u> - Issuance and transfer
of Portfolio shares will be by book entry only. Share certificates will not be issued to Company for any Variable Account. Portfolio shares
will be recorded in the appropriate title for each Variable Account.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g) <u>COMPANY REPORTING</u>. Company shall use reasonable
efforts to provide W&R with monthly reports in a manner and format determined by W&R no later than ten (10) calendar days following
the end of each month during the term of this Agreement. Such reports will set forth a listing of each order received from Contract Owners
during the month resulting in the purchase or sale of Portfolio shares, including the following information with respect to each such
order and such additional information as W&R shall reasonably request (i) the transaction date, which shall be the Business Day the
order was received by the Company, if the order was received prior to the Pricing Time, or the Business Day following the Business Day
the order was received by the Company, if the order was received after the Pricing Time; (ii) the transaction type (e.g., purchase, redemption,
exchange, transfer, etc.); (iii) the Portfolio CUSIP number, (iv) the dollar amount of the transaction; (v) the name of the agent assigned
to the Contract Owner's account/policy; and (vi) the agent's branch office number, city, state and zip code. Company agrees to provide
W&R, upon reasonable request, written reports indicating the number of Contract Owners and such other information (including books
and records) and in such format as W&R may reasonably request or as may be necessary or advisable to enable it to comply with any
law, regulation or order.

&nbsp;&nbsp;&nbsp;&nbsp;6. EXPENSES. All expenses incident to the performance
by Company, W&R and/or Ivy Funds VIP of their respective obligations under this Agreement shall be paid by the party subject to the
obligation. W&R shall pay compensation to Company under this Agreement as provided on Exhibit C.

&nbsp;&nbsp;&nbsp;&nbsp;7. <u>PROSPECTUSES, SAIs, PROXIES AND REPORTS</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) <u>DELIVERY TO COMPANY</u>, W&R shall promptly
provide Company (or its designee), or cause Company (or its designee) to be provided with:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) a camera-ready copy of the Portfolios'
Prospectus and any supplements, for use by Company in producing a combined prospectus for each Contract incorporating both the Contract
Prospectus and the Portfolios' Prospectus;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2) a .pdf version of the Portfolios' SAI and
any supplements;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3) periodic reports required under the 1940 Act
("Periodic Reports") in such quantity as Company shall reasonably require for distribution to Contract Owners; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4) copies of any Portfolio proxy materials in such
quantity as Company shall reasonably require for distribution to Contract Owners.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) <u>DELIVERY TO CONTRACT OWNERS</u>. Company shall
bear the costs of printing Portfolio proxy materials (or similar materials such as voting solicitation instructions), Periodic Reports,
Prospectuses and SAIs intended for delivery to Contract Owners and for the costs of delivering such materials to Contract Owners. Company
shall reimburse W&R and/or Ivy Funds VIP for any such costs they incur within thirty (30) days after receipt of an invoice itemizing
such costs. Company assumes sole responsibility for ensuring that such materials are delivered to Contract Owners in accordance with applicable
federal and state securities laws.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) <u>USE OF PORTFOLIO MATERIALS BY COMPANY</u>.
If Company elects to include any materials provided by W&R or Ivy Funds VIP, specifically Prospectuses, SAIs, Periodic Reports and
proxy materials, on its web site or in any other computer or electronic format, Company assumes sole responsibility for maintaining such
materials in the form provided by W&R or Ivy Funds VIP and for promptly replacing such materials with all updates provided by W&R
or Ivy Funds VIP. W&R or Ivy Funds VIP agree to provide all such materials requested by Company in a Portable Document Format (PDF)
in a timely fashion at no additional cost, together with such other formats at Company's cost as may be mutually agreed upon.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) <u>PROXY VOTING</u>. If and to the extent required
by law, Company shall: (i) solicit voting instructions from Contract Owners; (ii) vote the Portfolio(s) shares in accordance with the
instructions received from Contract Owners; and (iii) vote Portfolio(S) shares for which no instructions have been received in the same
proportion as the vote of all other holders of such shares, provided however, that the Company reserves the right to vote Portfolio shares
held in any segregated asset account in its own right, to the extent permitted by law. Company and its agents will in no way recommend
action in connection with or oppose or interfere with the solicitation of proxies for the Portfolio shares held for the benefit of such
Contract Owners.

&nbsp;&nbsp;&nbsp;&nbsp;8. <u>COMPANY'S USE OF PORTFOLIO INFORMATION</u>.
Company and its agents shall make no representations concerning the Portfolios or Portfolio shares except those contained in the Portfolios'
then current Prospectuses, SAIs or other documents produced by W&R (or an entity on its behalf) which contain information about the
Portfolios. Company agrees to submit to W&R for prior review and approval any communication with the public containing any Portfolio
information. Company agrees to allow at least ten (10) Business Days for W&R to review any advertising and sales literature drafted
by Company (or agents on its behalf) with respect to the Portfolios prior to using such material or submitting such material to any regulator.

&nbsp;&nbsp;&nbsp;&nbsp;9. <u>REPRESENTATIONS OF W&R AND/OR IVY FUNDS VIP</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) W&R represents that the Portfolios are currently
qualified as regulated investment companies under Subchapter M of the Code and that Ivy Funds VIP shall make every effort to maintain
such qualification. W&R shall promptly notify Company upon having a reasonable basis for believing that any of the Portfolios has
ceased to so qualify, or that they may not qualify as such in the future.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) W&R represents that each of the Portfolios
currently complies with the diversification requirements pursuant to Section 817(h) of the Code and Section 1.817-5(b) of the Federal
Tax Regulations and that Ivy Funds VIP will make every effort to maintain the Portfolios' compliance with such diversification requirements,
unless the Portfolios are otherwise exempt from Section 817(h) and/or except as otherwise disclosed in the Portfolios' Prospectus.
W&R will notify Company promptly upon having a reasonable basis for believing that a Portfolio has ceased to so qualify, or that a
Portfolio might not so qualify in the future.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) W&R represents and warrants that Ivy Funds
VIP is duly organized and validly existing under the laws of Maryland and that each Portfolio does and will comply in all material respects
with the 1940 Act and the rules and regulations thereunder.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) W&R represents and warrants that the Portfolio
shares offered and sold pursuant to this Agreement will be registered under the 1933 Act and each Portfolio shall be registered under
the 1940 Act prior to and at the time of any issuance or sale of such shares. W&R shall amend the Portfolios' registration statement
under the 1933 Act and the 1940 Act from time to time as required in order to effect the continuous offering of Portfolio shares. Ivy
Funds VIP shall register and qualify its shares for sale in accordance with the laws of the various states only if and to the extent deemed
advisable by Ivy Funds VIP or W&R.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) Ivy Funds VIP represents and warrants that it,
its directors, officers, employees and others dealing with the money or securities, or both, of a Portfolio shall at all times be covered
by a blanket fidelity bond or similar coverage for the benefit of the Portfolio in an amount not less than the minimum coverage required
by Rule 17g-l or other regulations under the 1940 Act. Such bond shall include coverage for larceny and embezzlement and be issued by
a reputable bonding company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) W&R represents and warrants that it is currently
and will continue to be a registered-broker dealer and member in good standing with the Financial Industry Regulatory Authority ("FINRA").

&nbsp;&nbsp;&nbsp;&nbsp;10. <u>CONFIRMATIONS</u>. Ivy Funds VIP or its agent
shall provide Company access to electronic account information, which shall confirm all transactions in Portfolio shares made during that
particular quarter by a Variable Account

&nbsp;&nbsp;&nbsp;&nbsp;11. <u>MIXED AND SHARED FUNDING</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) <u>GENERAL.</u> The parties understand that the
SEC has granted an order to Ivy Funds VIP exempting it from certain provisions of the 1940 Act and rules thereunder so that Ivy Funds
VIP may be available for investment by certain other entities, including, without limitation, separate accounts funding variable annuity
contracts or variable life insurance contracts, separate accounts of insurance companies unaffiliated with Company, and trustees of qualified
pension and retirement plans (collectively, "Mixed and Shared Funding"). The parties recognize that the SEC has imposed terms
and conditions for such orders. Ivy Funds VIP hereby notifies Company that it may be appropriate to include in the prospectus pursuant
to which a Contract is offered disclosure regarding the potential risks of Mixed and Shared Funding.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) <u>INFORMATION REQUESTED BY BOARD</u>. Company
and Ivy Funds VIP (or its agent) will at least annually submit to the Board such reports, materials or data as the Board may reasonably
request so that the Board may fully carry out the obligations imposed upon it by the provisions hereof or any exemptive order granted
by the SEC to pennit Mixed and Shared Funding, and said reports, materials and data will be submitted at any reasonable time deemed appropriate
by the Board.

&nbsp;&nbsp;&nbsp;&nbsp;12. <u>TERMINATION</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) <u>EVENTS OF TERMINATION</u>. This Agreement
shall terminate as to the sale and issuance of Portfolio(s) shares:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) at the option of Company, W&R or Ivy Funds
VIP upon at least sixty (60) days advance written notice to the other;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2) at any time with respect only to an applicable
Portfolio(s), upon W&R's election, if Ivy Funds VIP determines that liquidation of the Portfolio(s) is in the best interest
of the Portfolio(s) and its (their) beneficial owners. Reasonable advance notice of election to liquidate shall be furnished by W&R
to permit the substitution of Portfolio shares with the shares of another investment company;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3) if the Contracts are not treated as annuity contracts
or life insurance policies by the applicable regulators or under applicable rules or regulations;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4) if the Variable Accounts are not deemed "segregated
asset accounts" by the applicable regulators or under applicable rules or regulations;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(5) with respect only to the applicable Portfolio(s),
upon a decision by Company based on reasonable cause, in accordance with applicable law, to substitute such Portfolio shares with the
shares of another investment company for Contracts for which the Portfolio shares have been selected to serve as the underlying investment
medium. Company shall give at least sixty (60) days written notice to Ivy Funds VIP and W&R of any decision to substitute Portfolio
shares;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(6) upon sixty (60) days notice upon assignment of
this Agreement unless such assignment is made with the written consent of each other party;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(7) in the event Portfolio shares are not registered,
issued or sold pursuant to Federal law, or such law precludes the use of Portfolio shares as an underlying investment medium of Contracts
issued or to be issued by Company. Prompt written notice shall be given by either party to the other in the event the conditions of this
provision occur; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(8) at the option of any party to this Agreement,
upon another party's material breach of any provision of this Agreement

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) <u>NOTICE REQUIREMENT</u>. In the event of any
termination of this Agreement at the option of one of the parties, prompt written notice of the election to terminate this Agreement shall
be furnished by the party terminating the Agreement to the nonterminating parties.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) <u>PORTFOLIOS TO REMAIN AVAILABLE; EFFECT OF TERMINATION</u>. Notwithstanding any termination of this Agreement
by Company, Ivy Funds VIP will, at the option of Company, continue to make available additional shares of any Portfolio offered under
a Contract pursuant to the terms and conditions of this Agreement, for any Contract that is in effect on the effective date of termination
of this Agreement and that offers the particular Portfolio(s) as an investment option under the Contract as of that date (hereinafter
referred to as "Existing Contracts"), unless W&R or the Board determines that doing so would not serve the best interests
of the shareholders of the affected Portfolio(s) or would be inconsistent with applicable law or regulation. Specifically, without limitation,
the owners of the Existing Contracts will be permitted to reallocate investments in the Portfolio(s) (as in effect on such date), redeem
investments in the Portfolio(s) and/or invest in the Portfolio(s) upon the making of additional purchase payments under the Existing Contracts.
The parties agree that this Section 12 will not apply to any (i) terminations under Section 11 and the effect of such terminations will
be governed by Section 11 of this Agreement or (ii) any rejected purchase and/or redemption order as described in Section 2(i) hereof.
If Company elects to continue to make available Portfolio shares to Contract Owners after the effective date of termination of this Agreement
in accordance with this Section 12(c), all provisions of this Agreement will survive any termination of this Agreement solely with respect
to transactions in such Portfolio shares under the Existing Contracts.

&nbsp;&nbsp;&nbsp;&nbsp;13. NOTICES.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) <u>DELIVERY</u>. All notices sent under this
Agreement shall be given in writing, and shall be delivered personally, or sent by fax, or by a nationally-recognized overnight courier,
postage prepaid. All such notices shall be deemed to have been duly given when so delivered personally or sent by fax, with receipt confirmed,
or one (1) business day after the date of deposit with such nationally-recognized overnight courier. All such notices to Company, W&R
or Ivy Funds VIP shall be delivered to:

The Ohio National Life Insurance Company

One Financial Way

Cincinnati, Ohio 45242

Attention: Legal Department

Ohio National Life Assurance Corporation

One Financial Way

Cincinnati, Ohio 45242

Attention: Legal Department

Waddell & Reed, Inc.

6300 Lamar Avenue

Overland Park, Kansas 66202

Attention: Legal Department

Ivy Funds Variable Insurance Portfolios, Inc.

6300 Lamar Avenue

Overland Park, Kansas 66202

Attention: Secretary

All such notices to Company, W&R and Ivy Funds VIP shall be delivered to their respective addresses as listed above, or such other address as Company, W&R and/or Ivy Funds VIP may have furnished in writing to the other parties in accordance herewith.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) <u>NOTICE OF CERTAIN PROCEEDINGS AND OTHER CIRCUMSTANCES</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) Ivy Funds VIP or W&R will immediately notify
Company of (i) the issuance by any court or regulatory body of any stop order, cease and desist order, or other similar order with respect
to Ivy Funds VIP's registration statement under the 1933 Act or Ivy Funds VIP's Prospectus, (ii) any request by the SEC for
any amendment to such registration statement or Ivy Funds VIP Prospectus that may affect the offering of shares of Ivy Funds VIP, (iii)
the initiation of any proceedings for that purpose or for any other purpose relating to the registration or offering of Ivy Funds VIP
Shares, or (iv) any other action or circumstances that may prevent the lawful offer or sale of shares of any Portfolio in any state or
jurisdiction, including, without limitation, any circumstances in which (a) such shares are not registered and, in all material respects,
issued and sold in accordance with applicable state and federal law, or (b) such law precludes the use of such shares as an underlying
investment medium of the Contracts issued or to be issued by Company. Ivy Funds VIP and W&R will make every reasonable effort to prevent
the issuance, with respect to any Portfolio, of any such stop order, cease and desist order or similar order and, if any such order is
issued, to obtain the lifting thereof at the earliest possible time.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2) Company will immediately notify Ivy Funds VIP
of (i) the issuance by any court or regulatory body of any stop order, cease and desist order, or other similar order with respect to
each Variable Account's registration statement under the 1933 Act relating to the Contracts or each Variable Account Prospectus, (ii)
any request by the SEC for any amendment to such registration statement or Variable Account Prospectus that may affect the offering of
shares of Ivy Funds VIP, (iii) the initiation of any proceedings for that purpose or for any other purpose relating to the registration
or offering of each Variable Account's interests pursuant to the Contracts, or (iv) any other action or circumstances that may prevent
the lawful offer or sale of said interests in any state or jurisdiction, including, without limitation, any circumstances in which said
interests are not registered and, in all material respects, issued and sold in accordance with applicable state and federal law. Company
will make every reasonable effort to prevent the issuance of any such stop order, cease and desist order or similar order and, if any
such order is issued, to obtain the lifting thereof at the earliest possible time.

&nbsp;&nbsp;&nbsp;&nbsp;14. <u>INDEMNIFICATION</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) <u>INDEMNIFICATION BY COMPANY</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) Company agrees to reimburse and/or indemnify
and hold harmless W&R, Ivy Funds VIP, and each of their directors, officers, employees, agents and each person, if any, who controls
or is controlled by W&R within the meaning of the 1933 Act (collectively, "Affiliated Party") against any losses, claims,
damages or liabilities ("Losses") to which W&R or any such Affiliated Party may become subject, under the 1933 Act or
otherwise, insofar as such Losses arise out of or are based upon, but not limited to:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) any untrue statement or alleged untrue statement
of any material fact contained in information furnished by Company;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) the omission or the alleged omission to state
in the Registration Statements or Prospectuses of the Variable Accounts, or Contract, or in any sales literature or other public communication
generated by Company on behalf of the Variable Accounts or Contracts, a material fact required to be stated therein or necessary to make
the statements therein not misleading;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) statements or representations of Company or its
agents or third parties, with respect to the offer, sale or distribution of Contracts for which Portfolio shares are an underlying investment,
or negligent or wrongful conduct of Company or its agents or third parties with respect to offers or sales of Contracts or Portfolio shares;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iv) the failure of Company to comply with applicable
legal or self-regulatory requirements to which it is subject;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(v) a material breach of this Agreement or of any
of the representations or warranties contained herein; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(vi) any failure to register the Contracts or the
Variable Accounts under federal or state securities laws, state insurance laws or to otherwise comply with such laws, rules, regulations
or orders.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2) Provided however, that Company shall not be liable
in any such case to the extent any such Losses arise out of or are based upon an act, statement, omission or representation or alleged
act, alleged statement, alleged omission or alleged representation which was made in reliance upon and in conformity with written information
furnished to Company by or on behalf of W&R specifically for its use.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3) Company shall reimburse any legal or other expenses
reasonably incurred by W&R, Ivy Funds VIP, or any Affiliated Party in connection with investigating or defending any such Losses,
provided, however, that Company shall have prior approval of the use of said counsel or the expenditure of said fees.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4) This indemnity agreement shall be in addition
to any liability which Company may otherwise have and shall survive termination of this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;(b) <u>INDEMNIFICATION BY W&R AND/OR IVY FUNDS VIP</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) W&R and/or Ivy Funds VIP, as applicable,
agree to indemnify and hold harmless Company and each of its directors, officers, employees, agents and each person, (collectively, "Company
Affiliated Party"), who controls Company within the meaning of the 1933 Act against any Losses to which Company or any such Company
Affiliated Party may become subject, under the 1933 Act or otherwise, insofar as such Losses arise out of or are based upon; but not limited
to:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) any untrue statement or alleged untrue statement
of any material fact contained in any information furnished by W&R or Ivy Funds VIP, including but not limited to, the Registration
Statements, Prospectuses or sales literature of the Portfolios;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) the omission or the alleged omission to state
in the Registration Statements or Prospectuses of the Portfolios or in any sales literature generated by W&R, Ivy Funds VIP or their
affiliates a material fact required to be stated therein or necessary to make the statements therein not misleading;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) W&R's failure to keep the Portfolios
fully diversified and qualified as regulated investment companies as required by the applicable provisions of the Code, the 1940 Act,
and the applicable regulations promulgated thereunder;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iv) the failure of W&R or Ivy Funds VIP to comply
with applicable legal or self-regulatory requirements to which they are subject;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(v) a material breach of this Agreement or of any
of the representations or warranties contained herein; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(vi) any failure to register the Portfolios under
federal or state securities laws or to otherwise comply with such laws, rules, regulations or orders.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2) Provided however, that W&R and Ivy Funds
VIP shall not be liable in any such case to the extent that any such Losses arise out of or are based upon an act, statement, omission
or representation or alleged act, alleged statement, alleged omission or alleged representation which was made in reliance upon or in
conformity with written information furnished to W&R or Ivy Funds VIP by Company specifically for their use.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3) W&R and/or Ivy Funds VIP, as applicable,
shall reimburse any legal or other expenses reasonably incurred by Company or any Company Affiliated Party in connection with investigating
or defending any such Losses, provided, however, that W&R and Ivy Funds VIP shall have prior approval of the use of said counsel or
the expenditure of said fees.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4) This indemnity agreement will be in addition
to any liability which W&R and/or Ivy Funds VIP, as applicable, may otherwise have and shall survive termination of this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) <u>NOTICE AND DEFENSE OF CLAIMS</u>. Each party
shall promptly notify the other party(ies) in writing of any situation which presents or appears to involve a claim which may be the subject
of indemnification under this Agreement and the indemnifying party shall have the option to defend against any such claim. In the event
the indemnifying party so elects, it shall notify the indemnified party and shall assume the defense of such claim, and the indemnified
party shall cooperate fully with the indemnifying party, at the indemnifying party's expense, in the defense of such claim. Notwithstanding
the foregoing, the indemnified party shall be entitled to participate in the defense of such claim at its own expense through counsel
of its own choosing. Neither party shall admit to wrong-doing nor make any compromise in any action or proceeding which may result in
a finding of wrongdoing by the other party without the other party's prior written consent, which shall not be unreasonably withheld.
Any notice given by the indemnifying party to an indemnified party or participation in or control of the litigation of any such claim
by the indemnifying party shall in no event be deemed to be an admission by the indemnifying party of culpability, and the indemnifying
party shall be free to contest liability among the parties with respect to the claim.

&nbsp;&nbsp;&nbsp;&nbsp;15. <u>SUBSTITUTION APPLICATIONS</u>. Subject to
Section 10(e) of this Agreement, W&R may request or Company may initiate the filing of a substitution application pursuant to Section
26(c) of the 1940 Act to substitute shares of a Portfolio held by a Company Variable Account for another investment media ("Substitution
Application"). The costs associated with a Substitution Application shall be allocated as follows;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) In the event W&R requests Company to submit
a Substitution Application, W&R shall reimburse Company for all reasonable costs incurred by Company in preparing and filing the Substitution
Application and any amendment thereto. W&R shall be obligated to reimburse Company under this provision irrespective of whether the
Substitution Application requested by W&R is granted by the SEC or the substitution is effectuated. W&R shall not have any liability
to reimburse any other costs or expenses incurred in connection with effecting the substitution.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) In the event Company initiates a Substitution
Application, Company shall bear all costs associated with the Substitution Application irrespective of whether the Substitution Application
is granted or the substitution is effectuated.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) In the event Company initiates a Substitution
Application in accordance with Section 12(a)(5), Company shall bear the costs incurred in the transfer.

&nbsp;&nbsp;&nbsp;&nbsp;16. <u>CONFIDENTIALITY</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) <u>COMPANY</u>. Ivy Funds VIP acknowledges that
the identities of the customers of Company or any of its affiliates (collectively, the "the Company Protected Parties" for purposes
of this Section 16), information maintained regarding those customers, and all computer programs and procedures or other information developed
by the Company Protected Parties or any of their employees or agents in connection with Company's performance of its duties under this
Agreement are the valuable property of the Company Protected Parties. Ivy Funds VIP agrees that if it comes into possession of any list
or compilation of the identities of or other information about the Company Protected Parties' customers, or any other information or property
of the Company Protected Parties, other than such information as may be independently developed or compiled by Ivy Funds VIP from information
supplied to it by the Company Protected Parties" customers who also maintain accounts directly with Ivy Funds VIP, Ivy Funds VIP will
hold such information or property in confidence and refrain from using, disclosing or distributing any of such information or other property
except: (a) with Company's prior written consent; or (b) as required by law or judicial process.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) <u>IVY FUNDS VIP</u>. Company acknowledges that
the identities of the customers of Ivy Funds VIP or any of its affiliates (collectively, the "Ivy Funds VIP Protected Parties"
for purposes of this Section 16), information maintained regarding those customers, and all computer programs and procedures or other
information developed by the Ivy Funds VIP Protected Parties or any of their employees or agents in connection with Ivy Funds VIP's
performance of its duties under this Agreement are the valuable property of the Ivy Funds VIP Protected Parties. Company agrees that if
it comes into possession of any list or compilation of the identities of or other information about the Ivy Funds VIP Protected Parties'
customers or any other information or property of the Ivy Funds VIP Protected Parties, other than such information as may be independently
developed or compiled by Company from information supplied to it by the Ivy Funds VIP Protected Parties' customers who also maintain accounts
directly with Company, Company will hold such information or property in confidence and refrain from using, disclosing or distributing
any of such information or other property except: (a) with Ivy Funds VIP's prior written consent; or (b) as required by law or judicial
process.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) <u>BOTH PARTIES</u>. Each party acknowledges
that any breach of the agreements in this Section 16 would result in immediate and irreparable harm to the other parties for which there
would be no adequate remedy at law and agree that in the event of such a breach, the other parties will be entitled to equitable relief
by way of temporary and permanent injunctions, as well as such other relief as any court of competent jurisdiction deems appropriate.

&nbsp;&nbsp;&nbsp;&nbsp;17. <u>TRADEMARKS AND FUND NAMES</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Except as may otherwise be provided in a license
agreement among Ivy Funds VIP and Company, neither Company or any of its respective affiliates, shall use any trademark, trade name, service
mark or logo of W&R, Ivy Funds VIP or any of their respective affiliates, or any variation of any such trademark, trade name, service
mark or logo, without W&R's or Ivy Funds VIP's prior written consent, as applicable, the granting of which shall be at the sole
option of W&R or Ivy Funds VIP, as applicable.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Except as otherwise expressly provided in this
Agreement, neither Ivy Funds VIP, its investment adviser, its principal underwriter, or any affiliates thereof shall use any trademark,
trade name, service mark or logo of Company or any of its affiliates, or any variation of any such trademark, trade name, service mark
or logo, without Company's prior written consent, the granting of which shall be at Company's sole option.

&nbsp;&nbsp;&nbsp;&nbsp;18. <u>FORCE MAJEURE</u>. Each party shall be excused
from the performance of any of its obligations to the other where such nonperformance is occasioned by any event beyond its control which
shall include, without limitation, any applicable order, rule or regulation of any federal, state or local body, agency or instrumentality
with jurisdiction, work stoppage, accident, natural disaster, war, acts of terrorism or civil disorder, provided that the party so excused
shall use all reasonable efforts to minimize its nonperformance and overcome, remedy, cure or remove such event as soon as is reasonably
practicable, and such performance shall be excused only for so long as, in any given case, the force or circumstances making performance
impossible shall exist.

&nbsp;&nbsp;&nbsp;&nbsp;19. <u>NO WAIVER</u>. The forbearance or neglect
of any party to insist upon strict compliance by another party with any of the provisions of this Agreement, whether continuing or not,
or to declare a forfeiture of termination against the other parties, shall not be construed as a waiver of any of the rights or privileges
of any party hereunder. No waiver of any right or privilege of any party arising from any default or failure of performance by any party
shall affect the rights or privileges of the other parties in the event of a further default or failure of performance.

&nbsp;&nbsp;&nbsp;&nbsp;20. <u>GOVERNING LAW AND VENUE</u>. This Agreement
shall be construed and the provisions hereof interpreted under and in accordance with the laws of Kansas, without respect to its choice
of law provisions and in accordance with the 1940 Act. In the case of any conflict, the 1940 Act shall control.

&nbsp;&nbsp;&nbsp;&nbsp;21. <u>AUTHORIZATION</u>. Each party hereby represents
and warrants to the other that the persons executing this Agreement on its behalf are duly authorized and empowered to execute and deliver
the Agreement and that the Agreement constitutes its legal, valid and binding obligation, enforceable against it in accordance with its
terms. Except as particularly set forth herein, neither party assumes any responsibility hereunder, and will not be liable to the other
for any damage, loss of data, delay or any other loss whatsoever caused by events beyond its reasonable control.

&nbsp;&nbsp;&nbsp;&nbsp;22. <u>RELATIONSHIP OF PARTIES</u>. Nothing in this
Agreement shall be deemed to create a partnership or joint venture by and among the parties hereto.

&nbsp;&nbsp;&nbsp;&nbsp;23. <u>ENTIRE AGREEMENT AND AMENDMENT</u>. This Agreement,
including all exhibits hereto, constitutes the entire agreement and understanding between the parties with respect to the matters addressed
herein. Except to amend Exhibit B, which may be amended unilaterally by W&R and/or Ivy Funds VIP in its sole discretion, or as otherwise
provided in this Agreement, this Agreement may not be amended or modified except by a written amendment executed by each of the parties.

&nbsp;&nbsp;&nbsp;&nbsp;24. <u>COOPERATION</u>. Each party shall cooperate
with each other party and all appropriate government authorities (including without limitation the SEC, FINRA and state securities and
insurance regulators) and shall permit such authorities having jurisdiction reasonable access to its books and records in connection with
any investigation or inquiry relating to this Agreement or the transactions contemplated hereby.

&nbsp;&nbsp;&nbsp;&nbsp;25. <u>NON-EXCLUSIVE AGREEMENT</u>. The parties of
this Agreement acknowledge and agree that this Agreement shall not be exclusive in any respect.

&nbsp;&nbsp;&nbsp;&nbsp;26. <u>COUNTERPARTS</u>. This Agreement may be executed
by facsimile or other electronic signature and it may be executed in one or more counterparts, each of which shall be deemed an original,
but all of which together shall constitute one and the same instrument.

IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be executed by their duly authorized representatives as of the date first above written.

---

| | |
|:---|:---|
| THE OHIO NATIONAL LIFE INSURANCE COMPANY | THE OHIO NATIONAL LIFE INSURANCE COMPANY |
| By: | /s/ Thomas A. Barefield |
| Name: | Thomas A. Barefield |
| Title: | EVP |
| OHIO NATIONAL LIFE ASSURANCE CORPORATION | OHIO NATIONAL LIFE ASSURANCE CORPORATION |
| By: | /s/ Thomas A. Barefield |
| Name: | Thomas A. Barefield |
| Title: | EVP |
| WADDELL & REED, INC. | WADDELL & REED, INC. |
| By: | /s/ Thomas W. Butch |
| Name: | Thomas W. Butch |
| Title: | President |
| IVY FUNDS VARIABLE INSURANCE PORTFOLIOS, INC. | IVY FUNDS VARIABLE INSURANCE PORTFOLIOS, INC. |
| /s/ Henry I Herrmann | /s/ Henry I Herrmann |
| By: | Henry I Herrmann |
| Title | President |

---

EXHIBIT A

Variable Accounts of Company

---

| | |
|:---|:---|
| **Name** | **SEC File No.** |
| **Ohio National Variable Account A** | **811-1978** |
| **Ohio National Variable Account B** | **811-1979** |
| **Ohio National Variable Account R** | **811-4320** |

---

Variable Life Insurance Poticles/Varlable Annuity Contracts

---

| | |
|:---|:---|
| **Name** | **SEC File No.** |
| **ONcore Xtra** | **333-86803** |
| **ONcore Value** | **333-43513** |
| **ONcore Premier** | **333-43515** |
| **ONcore Lite** | **333-52006** |
| **ONcore Flex** | **333-43511** |
| **ONcore Ultra** | **333-134288** |
| **ONcore Wrap** | **333-134982** |
| **Top Plus A** | **33-62282** |
| **Top Explorer** | **333-05848** |
| **Top Tradition A** | **2-91213** |
| **Investar Vision/Top Spectrum** | **333-10907** |
| **Top 1 A** | **2-78652** |
| **Top Plus B** | **33-62284** |
| **Top Tradition B** | **2-91214** |
| **Top 1 B** | **2-78653** |
| **Vari-Vest I** | **2-98268** |
| **Vari-Vest II** | **2-98265** |
| **Vari-Vest III** | **33-9520** |
| **Vari-Vest IV** | **33-53350** |
| **Vari-Vest V** | **333-16133** |
| **Vari-Vest Asset Builder** | **333-40724** |
| **Vari-Vest Survivor** | **333-40636** |
| **GP VUL** | **333-109900** |
| **Virtus VUL** | **333-153020** |

---

EXHIBIT B

Ivy Funds Variable Insurance Portfolios, Inc.

<u>Portfolios Available to Variable Accounts</u>

Asset Strategy

Global Natural Resources

Science and Technology

EXHIBIT C

<u>Fees or Other Compensation</u>

Company shall provide the administrative services set out in Schedule A hereto and made a part hereof, as the same may be amended from time to time. For such services, W&R agrees to pay to Company as follows:

&nbsp;&nbsp;&nbsp;&nbsp;(a) <u>Assets Under Management.</u> Each quarter,
W&R shall calculate and pay to Company a fee that shall be equal to forty basis points (.40 bps), on an annualized basis, of the average
daily account value of all assets in the Portfolios in connection with the Contracts ("Aggregated Assets"), provided, however,
that the fee is subject to change pursuant to Paragraph (b) below. The fee (the "Total Fee") shall include and not be in addition
to the payment by W&R of the 12b-l fees received by W&R from Ivy Funds VIP relating to the Aggregated Assets.

&nbsp;&nbsp;&nbsp;&nbsp;(b) <u>Changes in Law,</u> If a change in the law
requires a reduction in the fees paid by a pooled investment vehicle pursuant to Rule 12b-l of the Investment Company Act of 1940 (or
its functional equivalent), and if Ivy Funds VIP is required to reduce the 12b-1 fees it pays that are based upon the value of the Aggregated
Assets as a result of such change in the law, then there shall be a corresponding reduction in the amount of the Total Fee due pursuant
to above.

The parties to this Agreement recognize and agree that W&R's payments hereunder are for administrative services and personal Contract Owner services (as described in Schedule A) only and do not constitute payment in any manner for investment advisory services or for costs of distribution of Contracts or of Portfolio shares, and are not otherwise related to investment advisory or distribution services or expenses. The Company represents and warrants that the fees to be paid by W&R for services to be rendered by Company pursuant to the terms of this Agreement are to compensate Company for providing administrative services to Ivy Funds VIP and for providing personal services to Contract Owners as described in Schedule A, and are not designed to reimburse or compensate Company for providing any other services with respect to the Contracts or any Variable Account.

**EXHIBIT D**

**RULE 22c-2 PROCEDURES**

Company, W&R and Ivy Funds VIP agree to the following terms and conditions regarding the provision of information pursuant to Rule 22c-2 of the 1940 Act:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. <u>Shareholder Information</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) <u>Agreement to Provide Information</u>. Company agrees to provide W&R and/or Ivy Funds VIP, or its designee, upon written request (which may include electronic writings and facsimile transmissions, a "Request"), the taxpayer identification number (the "TIN"), the Individual/International Taxpayer Identification Number ("IT1N") or other government-issued identifier ("GII") and the Contract owner number or participant account number associated with the Shareholder, if known, of any or all Shareholders) of Shares held through an account with Company (an "Account"), and the amount, date and transaction type (purchase, redemption, transfer or exchange) of every purchase, redemption, transfer or exchange of Shares held through the Account during the period covered by the Request. Unless otherwise specifically requested by W&R and/or Ivy Funds VIP, Company shall only be required to provide information relating to Shareholder-Initiated Transfer Purchases or Shareholder-Initiated Transfer Redemptions.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) <u>Period Covered by Request</u>. Requests must
set forth a specific period, not to exceed 180 days from the date of the Request, for which transaction information is sought. W&R
and/or Ivy Funds VIP may request transaction information older than 180 days from the date of the Request as it deems necessary to investigate
compliance with policies established by Ivy Funds VIP for the purpose of eliminating or reducing any dilution of the value of the outstanding
shares issued by Ivy Funds VIP.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) <u>Timing of Requests</u>. Requests for Shareholder
information shall be made no more frequently than quarterly except as W&R and/or Ivy Funds VIP deem necessary to investigate compliance
with policies established by Ivy Funds VIP for the purpose of eliminating or reducing any dilution of the value of the outstanding shares
issued by Ivy Funds VIP.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) <u>Form and Timing of Response</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(A) Company agrees to provide, promptly upon Request of W&R and/or Ivy Funds VIP, or its designee, the requested information specified in Section 1(a) of this Exhibit D. If Requested by W&R and/or Ivy Funds VIP or its designee, Company agrees to use best efforts to determine promptly, but not later than five business days after receipt of the Request by Company, whether any specific person or entity about whom W&R and/or Ivy Funds VIP has received information pursuant to Section 1(a) of this Agreement is an "indirect intermediary" ("Indirect Intermediary") as defined in Rule 22c-2 (the "Rule") under the 1940 Act, and, upon further Request of W&R and/or Ivy Funds VIP or its designee, promptly (but not later than five business days after receipt of such Request) either. (I) provide (or arrange to have provided) the identification and transaction information set forth in Section 1(a) of this Exhibit D for Shareholders who hold Shares through the Indirect Intermediary; or (II) restrict or prohibit the Indirect Intermediary from purchasing, in nominee name on behalf of other persons, securities issued by W&R and/or Ivy Funds VIP. Company agrees to inform W&R and/or Ivy Funds VIP whether it plans to perform (I) or (II) above.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(B) Responses required by this Section l(a)(ii) of this Exhibit D must be communicated in writing and in a format mutually agreed upon by W&R and/or Ivy Funds VIP and Company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(C) To the extent practicable, the format for any transaction information provided to W&R and/or Ivy Funds VIP should be consistent with the National Securities Clearing Corporation Standardized Data Report Format.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) <u>Limitations on Use of Information</u>. W&R
and/or Ivy Funds VIP agree not to use the information received pursuant to this Exhibit D for any purpose other than as necessary to comply
with the provisions of the Rule or to fulfill other regulatory or legal requirements, subject to the privacy provisions of Title V of
the Gramm-Leach-Bliley Act and comparable state laws.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) <u>Agreement to Restrict Trading</u>. Company agrees to execute a Request from W&R and/or Ivy Funds VIP or its designee to restrict or prohibit further purchases or exchanges of Shares by a Shareholder that has been identified by or on behalf of Ivy Funds VIP as having engaged in transactions in Shares (directly or indirectly through an Account) that violate policies established by Ivy Funds VIP for the purpose of eliminating or reducing any dilution of the value of the outstanding shares issued by Ivy Funds VIP. Unless otherwise directed by or on behalf of Ivy Funds VIP or as otherwise provided in Section l(a)(ii)(A) of this Agreement, any such restrictions or prohibitions shall only apply to Shareholder-Initiated Transfer Purchases or Shareholder-Initiated Transfer Redemptions that are effected directly or indirectly through Company. Instructions must be received by Company at such address that Company may communicate to W&R and/or Ivy Funds VIP in writing from time to time, including, if applicable, an e-mail and/or facsimile telephone number.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) <u>Form of Instruction;</u>. Such Request must
include the TIN, ITIN or GII and the specific individual Contract owner number or participant account number associated with the Shareholder,
if known, and the specific restriction(s) to be executed, including how long the restriction(s) is (are) to remain in place. If the TIN,
ITIN or GII or the specific individual Contract owner number or participant account number associated with the Shareholder is not known,
the instructions must include an equivalent identifying number of the Shareholder(s) or account(s) or other agreed upon information to
which the instruction relates.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) <u>Timing of Response</u>. Company agrees to
execute the Request as soon as reasonably practicable, but not later than five business days after receipt of the instructions by Company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) <u>Confirmation by Company</u>. Company agrees
to provide written confirmation to the Fund as soon as reasonably practicable that the Request has been executed, but not later than 10
business days after the Request has been executed.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. <u>Definitions</u>.

(a) The term "Shares" means the interests of Shareholders corresponding to the redeemable securities of record issued by Ivy Funds VIP under the 1940 Act that are held by Company.

(b) The term "Shareholder" means the holder of interests in Contract or a participant in an employee benefit plan with a beneficial interest in a Contract

(c) The term "Shareholder-Initiated Transfer Purchase" means a transaction that is initiated or directed by a Shareholder or a plan or pursuant to an asset allocation, automatic rebalancing or similar program that results in a transfer of assets within a Contract to Ivy Funds VIP, but does not include transactions that are executed: (i) automatically pursuant to a contractual or systematic program or enrollment such as transfer of assets within a Contract to Ivy Funds VIP as a result of "dollar cost averaging" programs, insurance company approved asset allocation programs (provided that such programs are reasonably designed to prevent the types of abusive trading that the Fund's market timing policies are intended to prevent), or automatic rebalancing programs; (ii) pursuant to a Contract death benefit; (iii) one-time step-up in Contract value pursuant to a Contract death benefit; (iv) allocation of assets to Ivy Funds VIP through a Contract as a result of payments such as loan repayments, scheduled contributions, retirement plan salary reduction contributions, or planned premium payments to the Contract; or (v) prearranged transfers at the conclusion of a required free look period.

(d) The term "Shareholder-Initiated Transfer Redemption" means a transaction that is initiated or directed by a Shareholder or a plan or pursuant to an asset allocation, automatic rebalancing or similar program that results in a transfer of assets within a Contract out of Ivy Funds VIP, but does not include transactions that are executed: (i) automatically pursuant to a contractual or systematic programs or enrollments such as transfers of assets within a Contract out of Ivy Funds VIP as a result of annuity payouts, loans, systematic withdrawal programs, insurance company approved asset allocation programs (provided that such programs are reasonably designed to prevent the types of abusive trading that the Fund's market timing policies are intended to prevent) and automatic rebalancing programs; (ii) as a result of any deduction of charges or fees under a Contract; (iii) within a Contract out of Ivy Funds VIP as a result of scheduled withdrawals or surrenders from a Contract; or (iv) as a result of payment of a death benefit from a Contract.

SCHEDULE A

ADMINISTRATIVE SERVICES FOR

IVY FUNDS VARIABLE INSURANCE PORTFOLIOS, INC.

Company shall provide certain administrative services respecting the operations of Ivy Funds VIP and certain personal services to Contract Owners investing in Ivy Funds VIP, as set forth below. This Schedule, which may be amended from time to time as mutually agreed upon by Company and W&R, constitutes an integral part of the Agreement to which it is attached. Capitalized terms used herein shall, unless otherwise noted, have the same meaning as the defined terms in the Agreement to which this Schedule relates.

&nbsp;&nbsp;&nbsp;&nbsp;A. <u>RECORDS OF PORTFOLIO SHARE TRANSACTIONS; MISCELLANEOUS RECORDS</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. Company shall maintain master accounts with Ivy
Funds VIP, on behalf of each Portfolio, which accounts shall bear the name of Company as the record owner of Portfolio shares on behalf
of each Variable Account investing in the Portfolio.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. Company shall maintain a daily journal setting
out the number of shares of each Portfolio purchased, redeemed or exchanged by Contract Owners each day, to, among other things, assist
W&R, Ivy Funds VIP and/or Ivy Funds VIP's transfer agent in tracking and recording Portfolio share transactions, and to facilitate
the computation of each Portfolio's net asset value per share. Company shall daily provide W&R, Ivy Funds VIP and Ivy Funds
VIP's transfer agent with a copy of such journal entries or information appearing thereon in such format as may be reasonably requested
by W&R. Company shall provide such other assistance to W&R, Ivy Funds VIP and Ivy Funds VIP's transfer agent as may be necessary
to cause various Portfolio share transactions effected by Contract Owners to be properly reflected on the books and records of Ivy Funds
VIP.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3. In addition to the foregoing records, and without
limitation, Company shall maintain and preserve al! records as required by law to be maintained and preserved in connection with providing
administrative services hereunder.

&nbsp;&nbsp;&nbsp;&nbsp;B. <u>ORDER PLACEMENT AND PAYMENT</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. Company shall determine the net amount to be
transmitted to the Variable Accounts as a result of redemptions of each Portfolio's shares based on Contract Owner redemption requests
and shall disburse or credit to the Variable Accounts all proceeds of redemptions of Portfolio shares. Company shall notify Ivy Funds
VIP of the cash required to meet redemption payments.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. Company shall determine the net amount to be
transmitted to Ivy Funds VIP as a result of purchases of Portfolio shares based on Contract Owner purchase payments and transfers allocated
to the Variable Accounts investing in each Portfolio. Company shall transmit net purchase payments to Ivy Funds VIP's custodian.

&nbsp;&nbsp;&nbsp;&nbsp;C. <u>ACCOUNTING SERVICES</u>. Company shall perform
miscellaneous accounting services as may be reasonably requested from time to time by W&R, which services shall relate to the business
contemplated by this Agreement, as amended from time to time. Such services shall include, without limitation, periodic reconciliation
and balancing of Company's books and records with those of Ivy Funds VIP with respect to such matters as cash accounts. Portfolio share
purchase and redemption orders placed with Ivy Funds VIP, dividend and distribution payments by Ivy Funds VIP, and such other accounting
matters that may arise from time to time in connection with the operations of Ivy Funds VIP as related to the business contemplated by
this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;D. <u>BOARD REPORTS</u>. Company acknowledges that
W&R may, from time to time, be called upon by the Board, to provide various types of information pertaining to the operations of Ivy
Funds VIP and related matters, and that W&R also may, from time to time, decide to provide such information to the Board in its own
discretion. Accordingly, Company agrees to provide W&R with such assistance as W&R may reasonably request so that W&R can
report such information to the Ivy Funds VIP's Board in a timely manner. Company acknowledges that such information and assistance
shall be in addition to the information and assistance required of Company pursuant to Ivy Funds VIP's mixed and shared funding
SEC exemptive order, described in Section 11 of this Agreement.

Company further agrees to provide W&R with such assistance as W&R may reasonably request with respect to the preparation and submission of reports and other documents pertaining to Ivy Funds VIP to appropriate regulatory bodies and third party reporting services.

&nbsp;&nbsp;&nbsp;&nbsp;E. <u>IVY FUNDS VIP-RELATED CONTRACT OWNER SERVICES</u>.
Company agrees to print and distribute, in a timely manner, Prospectuses, SAIs, supplements thereto, Periodic Reports and any other materials
of Ivy Funds VIP required by law or otherwise to be given to its shareholders, including, without limitation, Contract Owners investing
in Portfolio shares, and to bear the expenses associated with such printing and distribution. In addition, Company shall bear the expenses
associated with (i) printing, mailing, distributing, and tabulating proxy materials, including voting instruction solicitation materials,
sent to Contract Owners with respect to proxy solicitations related to the Variable Account or related to matters requested by Company
and agreed to by Ivy Funds VIP, (ii) making typesetting and other customization changes to Ivy Funds VIP proxy materials, which changes
are requested by Company and agreed to by Ivy Funds VIP, and (iii) mailing and distributing Ivy Funds VIP proxy materials. Company further
agrees to provide telephonic support for Contract Owners, including, without limitation, advice with respect to inquiries about Ivy Funds
VIP and each Portfolio (not including information about performance or related to sales), communicating with Contract Owners about Ivy
Funds VIP (and Variable Account) performance, and assisting with proxy solicitations, specifically with respect to soliciting voting instructions
from Contract Owners.

## Exhibit 99.30

<u>FUND PARTICIPATION AGREEMENT</u>

This Agreement is entered into as of the 1st day of May, 1999, by and among The Ohio National Life Insurance Company and its wholly owned subsidiary, Ohio National Life Assurance Corporation ("Insurer"), life insurance companies organized under the laws of the State of Ohio, Ohio National Equities, Inc. an Ohio corporation ("Contract Distributor"), LAZARD ASSET MANAGEMENT ("LAM"), a division of Lazard Frères & Co. LLC, a New York limited liability company ("LF & Co."), and LAZARD RETIREMENT SERIES, INC. ("Fund"), a Maryland corporation (collectively, the "Parties").

ARTICLE I.

DEFINITIONS

The following terms used in this Agreement shall have the meanings set out below:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.1. "Act" shall mean the Investment Company
Act of 1940, as amended.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.2. "Board" shall mean the Fund's
Board of Directors having the responsibility for management and control of Fund.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.3. "Business Day" shall mean any day for
which Fund calculates net asset value per share as described in a Portfolio Prospectus.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.4. "Code" shall mean the Internal Revenue
Code of 1986, as amended.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.5. "Commission" shall mean the Securities
and Exchange Commission.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.6. "Contract" shall mean a variable annuity
or variable life insurance contract that uses a Portfolio or Fund as an underlying investment medium and that is named on Schedule 1 hereto,
as the Parties may amend in writing from time to time by mutual agreement ("Schedule 1").

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.7. "Contract Prospectus" shall mean
the prospectus and, if applicable, statement of additional information, as currently in effect with the Commission, with respect to the
Contracts, including any supplements or amendments thereto. All references to "Contract Prospectuses" shall be deemed to also
include all offering documents and other materials relating to any Contract that is not registered under the Securities Act of 1933, as
amended ("1933 Act").

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.8. "Contractholder" shall mean any person
that is a party to a Contract with a Participating Company. Individuals who participate under a group Contract are "Participants."

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.9. "Disinterested Board Members" shall
mean those members of the Board that are not deemed to be "interested persons" of Fund, as defined by the Act.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.10. "General Account" shall mean the general
account of Insurer.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.11. "Participating Company" shall mean
any insurance company, including Insurer, that offers variable annuity and/or variable life insurance contracts to the public and that
has entered into an agreement with Fund for the purpose of making Fund shares available to serve as the underlying investment medium for
Contracts.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.12. "Portfolio" shall mean each series
of Fund named on Schedule 1.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.13. "Portfolio Prospectus" shall mean the
prospectus and statement of additional information, as currently in effect with the Commission, with respect to the Portfolios, including
any supplements or amendments thereto.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.14. "Separate Account" shall mean a separate
account duly established by Insurer in accordance with the laws of the State of Ohio and named on Schedule 1.

ARTICLE II.

REPRESENTATIONS AND WARRANTIES

2.1. Insurer represents and warrants that:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) it is an insurance company duly organized and
in good standing under Ohio law;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) it has legally and validly established and shall
maintain each Separate Account pursuant to the insurance laws and regulations of the State of Ohio;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) it has registered and shall maintain the registration
of each Separate Account as a unit investment trust under the Act, to the extent required by the Act, to serve as a segregated investment
account for the Contracts;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) each Separate Account is and at all times shall
be eligible to invest in shares of Fund without such investment disqualifying Fund as an investment medium for insurance company separate
accounts supporting variable annuity contracts and/or variable life insurance contracts;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) each Separate Account is and at all times shall
be a "segregated asset account," and interests in each Separate Account that are offered to the public shall be issued exclusively
through the purchase of a Contract that is and at all times shall be a "variable contract" within the meaning of such terms
under Section 817 of the Code and the regulations thereunder. Insurer agrees to notify Fund and LAM immediately upon having a reasonable
basis for believing that such requirements have ceased to be met or that they might not be met in the future;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) the Contracts are and at all times shall be treated
as life insurance, endowment or annuity contracts under applicable provisions of the Code, and it shall notify Fund immediately upon having
a reasonable basis for believing that the Contracts have ceased to be so treated or that they might not be so treated in the future; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g) all of its employees and agents who deal with
the money and/or securities of Fund are and at all times shall be covered by a blanket fidelity bond or similar coverage in an amount
not less than the coverage required to be maintained by Fund. The aforesaid bond shall include coverage for larceny and embezzlement and
shall be issued by a reputable bonding company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.2. Insurer
and Distributor represent and warrant that (a) units of interest in each Separate Account available through the purchase of Contracts
are registered under the 1933 Act, to the extent required thereby; (b) the Contracts shall be issued and sold in compliance in all material
respects with all applicable federal and state laws; and (c) the sale of the Contracts shall comply in all material respects with state
insurance law requirements. Insurer agrees to inform Fund promptly of any investment restrictions imposed by state insurance law and
applicable to Fund.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.3 Distributor represents and warrants that it is
and at all times shall be: (a) registered with the Commission as a broker-dealer, (b) a member in good standing of the National Association
of Securities Dealers, Inc. ("NASD"); and (c) an Ohio corporation duly organized, validly existing, and in good standing under
the laws of the State of Ohio, with full power, authority, and legal right to execute, deliver, and perform its duties and comply with
its obligations under this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.4 Fund represents and warrants that:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) it is and shall remain registered with the Commission
as an open-end, management investment company under the Act to the extent required thereby;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) its shares are registered under the 1933 Act
to the extent required thereby;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) it possesses, and shall maintain, all legal and
regulatory licenses, approvals, consents and/or exemptions required for it to operate and offer its shares as an underlying investment
medium for the Contracts;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) each Portfolio is qualified as a regulated investment
company under Subchapter M of the Code, it shall make every effort to maintain such qualification, and it shall notify Insurer immediately
upon having a reasonable basis for believing that any Portfolio invested in by the Separate Account has ceased to so qualify or that it
might not so qualify in the future;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) each Portfolio's assets shall be managed and
invested in a manner that complies with the requirements of Section 817(h) of the Code and the regulations thereunder, to the extent applicable;
and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) all of its directors, officers, employees, investment
advisers, and other individuals/entities who deal with the money and/or securities of Fund are and shall continue to be at all times covered
by a blanket fidelity bond or similar coverage for the benefit of Fund in an amount not less than that required by Rule 17g-1 under the
Act. The aforesaid bond shall include coverage for larceny and embezzlement and shall be issued by a reputable bonding company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.5 LAM represents and warrants that LF & Co.,
the principal underwriter of each Portfolio's shares, that it is and at all times shall be: (a) registered with the Commission as
a broker-dealer, (b) a member in good standing of the NASD; and (c) a New York limited liability company duly organized, validly existing,
and in good standing under the laws of the State of New York, with full power, authority, and legal right to execute, deliver, and perform
its duties and comply with its obligations under this Agreement. LAM further represents and warrants that it shall sell the shares of
the Portfolios to Insurer in compliance in all material respects with all applicable federal and state securities laws.

ARTICLE III.

FUND SHARES

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.1. Fund agrees to make the shares of each Portfolio
available for purchase by Insurer and each Separate Account at net asset value and without sales charge, subject to the terms and conditions
of this Agreement. Fund may refuse to sell the shares of any Portfolio to any person, or suspend or terminate the offering of the shares
of any Portfolio if such action is required by law or by regulatory authorities having jurisdiction or is, in the sole discretion of the
Board, acting in good faith and in light of its fiduciary duties under federal and any applicable state laws, necessary and in the best
interests of the shareholders of such Portfolio.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.2. Fund agrees that it shall sell shares of the
Portfolios only to persons eligible to invest in the Portfolios in accordance with Section 817(h) of the Code and the regulations thereunder,
to the extent such Section and regulations are applicable.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.3. Except as noted in this Article III, Fund and
Insurer agree that orders and related payments to purchase and redeem Portfolio shares shall be processed in the manner set out in Schedule
2 hereto, as the Parties may amend in writing from time to time by mutual agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.4. Fund shall confirm each purchase or redemption
order made by Insurer. Transfer of Portfolio shares shall be by book entry only. No share certificates shall be issued to Insurer. Shares
ordered from Fund shall be recorded in an appropriate title for Insurer, on behalf of each Separate or General Account.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.5. Fund shall promptly notify Insurer of the amount
of dividend and capital gain, if any, per share of each Portfolio to which Insurer is entitled. Insurer hereby elects to reinvest all
dividends and capital gains of any Portfolio in additional shares of that Portfolio at the applicable net asset value, until Insurer otherwise
notifies Fund in writing. Insurer reserves the right to revoke this election and to receive all such income dividends and capital gain
distributions in cash.

ARTICLE IV.

STATEMENTS AND REPORTS

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.1. Fund shall provide Insurer with monthly statements
of account by the fifteenth (15th) Business Day of the following month.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.2. At least annually, Fund or its designee shall
provide Insurer, free of charge, with as many Portfolio Prospectuses as Insurer may reasonably request for distribution by Insurer to
existing Contractholders and Participants that have invested in that Portfolio. Fund or its designee shall provide Insurer, at Insurer's
expense, with as many Portfolio Prospectuses as Insurer may reasonably request for distribution by Insurer to prospective purchasers of
Contracts. If requested by Insurer in lieu thereof, Fund or its designee shall provide such documentation (including a "camera ready"
copy of each Portfolio Prospectus as set in type or, at the request of Insurer, as a diskette in the form sent to the financial printer)
and other assistance as is reasonably necessary in order for the Parties once a year (or more frequently if the Portfolio Prospectuses
are supplemented or amended) to have the Contract Prospectuses and the Portfolio Prospectuses printed together in one document.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.3. Fund shall provide Insurer with copies of each
Portfolio's proxy materials, notices, periodic reports and other printed materials (which the Portfolio customarily provides to
its shareholders) in quantities as Insurer may reasonably request for distribution by Insurer to each Contractholder and Participant that
has invested in that Portfolio.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.4. Fund shall provide to Insurer at least one complete
copy of all registration statements, Portfolio Prospectuses, reports, proxy statements, sales literature and other promotional materials,
applications for exemptions, requests for no-action letters, and all amendments to any of the above, that relate to Fund or its shares,
contemporaneously with the filing of such document with the Commission or other regulatory authorities.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.5. Insurer shall provide to Fund at least one copy
of all registration statements, Contract Prospectuses, reports, proxy statements, sales literature and other promotional materials, applications
for exemptions, requests for no-action letters, and all amendments to any of the above, that relate to the Contracts or a Separate Account,
contemporaneously with the filing of such document with the Commission or the NASD.

ARTICLE V.

EXPENSES

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.1. Except as otherwise specifically provided herein,
each Party will bear all expenses incident to its performance under this Agreement.

ARTICLE VI.

EXEMPTIVE RELIEF

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.1. Insurer acknowledges that it has reviewed a copy
of Fund's mixed and shared funding exemptive order ("Order") and, in particular, has reviewed the conditions to the relief
set forth in the related notice ("Notice"). As required by the conditions set forth in the Notice, Insurer shall report any
potential or existing conflicts promptly to the Board. In addition, Insurer shall be responsible for assisting the Board in carrying out
its responsibilities under the Order by providing the Board with all information necessary for the Board to consider any issues raised,
including, without limitation, information whenever Contract voting instructions are disregarded. Insurer, at least annually, shall submit
to the Board such reports, materials, or data as the Board may reasonably request so that the Board may carry out fully the obligations
imposed upon it by the Order. Insurer agrees to carry out such responsibilities with a view to the interests of existing Contractholders.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.2. If a majority of the Board, or a majority of
Disinterested Board Members, determines that a material irreconcilable conflict exists with regard to Contractholder investments in Fund,
the Board shall give prompt notice to all Participating Companies. If the Board determines that Insurer is a Participating Insurance Company
for whom the conflict is relevant, Insurer shall at its sole cost and expense, and to the extent reasonably practicable (as determined
by a majority of the Disinterested Board Members), take such action as is necessary to remedy or eliminate the irreconcilable material
conflict. Such necessary action may include, but shall not be limited to:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Withdrawing the assets allocable to some or all
Separate Accounts from Fund or any Portfolio and reinvesting such assets in a different investment medium, or submitting the question
of whether such segregation should be implemented to a vote of all affected Contractholders and, as appropriate, segregating the assets
of any appropriate group (i.e. variable annuity or variable life insurance contract owners) that votes in favor of such segregation; and/or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Establishing a new registered management investment
company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.3. If a material irreconcilable conflict arises
as a result of a decision by Insurer to disregard Contractholder voting instructions and that decision represents a minority position
or would preclude a majority vote by all Contractholders having an interest in Fund, Insurer may be required, at the Board's election,
to withdraw the investments of its Separate Accounts in Fund.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.4. For the purpose of this Article, a majority of
the Disinterested Board Members shall determine whether any proposed action adequately remedies any material irreconcilable conflict.
In no event shall Fund or LAM or any other investment adviser of Fund be required to bear the expense of establishing a new funding medium
for any Contract. Insurer shall not be required by this Article to establish a new funding medium for any Contract if an offer to do so
has been declined by vote of a majority of the Contractholders materially and adversely affected by the material irreconcilable conflict.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.5. No action by Insurer taken or omitted, and no
action by the Separate Account or Fund taken or omitted as a result of any act or failure to act by Insurer pursuant to this Article VI
shall relieve Insurer of its obligations under or otherwise affect the operation of Article V.

ARTICLE VII.

VOTING OF FUND SHARES

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.1. Insurer shall provide pass-through voting privileges
to all Contractholders or Participants as long as the Commission continues to interpret the Act as requiring passthrough voting privileges
for Contractholders or Participants. Accordingly, Insurer, where applicable, shall vote shares of a Portfolio held in each Separate Account
in a manner consistent with voting instructions timely received from its Contractholders or Participants. Insurer shall be responsible
for assuring that the Separate Account calculates voting privileges in a manner consistent with other Participating Companies. Insurer
shall vote shares for which it has not received timely voting instructions, as well as shares it owns, in the same proportion as it votes
those shares for which it has received voting instructions.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.2. If and to the extent Rule 6e-2 and Rule 6e-3(T)
under the Act are amended, or if Rule 6e-3 is adopted, to provide exemptive relief from any provision of the Act or the rules thereunder
with respect to mixed and shared funding on terms and conditions materially different from any exemptions granted in the Order, then Fund,
and/or the Participating Companies, as appropriate, shall take such steps as may be necessary to comply with Rule 6e-2 and Rule 6e-3(T),
as amended, and Rule 6e-3, as adopted, to the extent such Rules are applicable.

ARTICLE VIII.

MARKETING

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.1. Fund or LF & Co. shall periodically furnish
Insurer with Portfolio Prospectuses and sales literature or other promotional materials for each Portfolio, in quantities as Insurer may
reasonably request for distribution to prospective purchasers of Contract. Expenses for the printing and distribution of such documents
shall be borne by Insurer.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.2. Insurer shall designate certain persons or entities
that shall have the requisite licenses to solicit applications for the sale of Contracts. Insurer shall make reasonable efforts to market
the Contracts and shall comply with all applicable federal and state laws in connection therewith.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.3. Insurer shall furnish, or shall cause to be furnished,
to Fund, each piece of sales literature or other promotional material in which Fund, LAM, LF & Co., Fund's administrator is named,
at least fifteen (15) Business Days prior to its use. No such material shall be used unless Fund or its designee approves such material.
Such approval (if given) must be in writing and shall be presumed not given if not received within ten (10) Business Days after receipt
of such material. Fund shall use all reasonable efforts to respond within ten days of receipt.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.4. Insurer shall not give any information or make
any representations or statements on behalf of Fund, LAM, LF & Co., or concerning Fund or any Portfolio in connection with the sale
of the Contracts other than the information or representations contained in the registration statement or a Portfolio Prospectus, as the
same may be amended or supplemented from time to time, or in reports or proxy statements for each Portfolio, or in sales literature or
other promotional material approved by Fund.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.5. Fund shall furnish, or shall cause to be furnished,
to Insurer, each piece of the Fund's sales literature or other promotional material in which Insurer or a Separate Account is named, at
least fifteen (15) Business Days prior to its use. No such material shall be used unless Insurer approves such material. Such approval
(if given) must be in writing and shall be presumed not given if not received within ten (10) Business Days after receipt of such material.
Insurer shall use all reasonable efforts to respond within ten days of receipt.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.6. Fund shall not, in connection with the sale of
Portfolio shares, give any information or make any representations on behalf of Insurer or concerning Insurer, a Separate Account, or
the Contracts other than the information or representations contained in a registration statement for the Contracts or the Contract Prospectus,
as the same may be amended or supplemented from time to time, or in published reports for each Separate Account that are in the public
domain or approved by Insurer for distribution to Contractholders or Participants, or in sales literature or other promotional material
approved by Insurer.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.7. For purposes of this Agreement, the phrase "sales
literature or other promotional material" or words of similar import include, without limitation, advertisements (such as material
published, or designed for use, in a newspaper, magazine or other periodical, radio, television, telephone or tape recording, videotape
display, signs or billboards, motion pictures or other public media), sales literature (such as any written communication distributed
or made generally available to customers or the public, including brochures, circulars, research reports, market letters, form letters,
seminar texts, or reprints or excerpts of any other advertisement, sales literature, or published article), educational or training materials
or other communications distributed or made generally available to some or all agents or employees, prospectuses, statements of additional
information, shareholder reports and proxy materials, and any other material constituting sales literature or advertising under the rules
of the National Association of Securities Dealers, Inc. ("NASD"), the Act or the 1933 Act.

ARTICLE IX.

INDEMNIFICATION

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.1. Insurer and Distributor each agree to indemnify
and hold harmless Fund, LAM, any sub-investment adviser of a Portfolio, and their affiliates, and each of their respective directors,
trustees, general members, officers, employees, agents and each person, if any, who controls or is associated with any of the foregoing
entities or persons within the meaning of the 1933 Act (collectively, the "Indemnified Parties" for purposes of this Section),
against any and all losses, claims, damages or liabilities joint or several (including any investigative, legal and other expenses reasonably
incurred in connection with, and any amounts paid in settlement of, any action, suit or proceeding or any claim asserted) (collectively,
"Losses") for which the Indemnified Parties may become subject, under the 1933 Act or otherwise, insofar as such Losses (or
actions in respect to thereof);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) arise out of or are based upon any untrue statement
or alleged untrue statement of any material fact (collectively "materially untrue statement") contained in any registration
statement, Contract Prospectus, Contract, or sales literature or other promotional material relating to a Separate Account or the Contracts
(collectively, "Account documents"), or arise out of or are based upon the omission or the alleged omission to state therein
a material fact required to be stated therein or necessary to make the statements therein not misleading (collectively "material
omission");

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) arise out of or are based upon any materially
untrue statement or material omission made in any registration statement, Portfolio Prospectus, or sales literature or other promotional
material relating to Fund or a Portfolio (collectively, "Portfolio documents"), *provided* such statement or omission
was made in reliance upon and in conformity with information provided in writing to Fund by or on behalf of Insurer specifically for use
therein;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) arise out of or as a result of statements or
representations (other than statements or representations contained in any Portfolio document on which Insurer or Distributor have reasonably
relied) or wrongful conduct of Insurer, Distributor, their respective agents, and persons under their respective control, with respect
to the sale and distribution of Contracts or Portfolio shares;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) arise out of any material breach of any representation
and/or warranty made by Insurer or Distributor in this Agreement, or arise out of or result from any other material breach of this Agreement
by Insurer or Distributor; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) arise out of Insurer's incorrect calculation
and/or untimely reporting of net purchase or redemption orders.

Insurer and Distributor shall reimburse any Indemnified Party in connection with investigating or defending any Loss (or actions in respect to thereof); *provided,* however, that with respect to clause (a) above neither Insurer nor Distributor shall be liable in any such case to the extent that any Loss arises out of or is based upon any materially untrue statement or material omission made in any Account documents, which statement or omission was made in reliance upon and in conformity with written information furnished to Insurer by or on behalf of Fund specifically for use therein. This indemnity agreement shall be in addition to any liability that Insurer or Distributor may otherwise have.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.2. Fund and LAM each agree to indemnify and hold
harmless Insurer and Distributor and each of their respective directors, officers, employees, agents and each person, if any, who controls
Insurer or Distributor (collectively, "Indemnified Parties" for purposes of this Section) within the meaning of the 1933 Act
against any Losses to which they or any Indemnified Party may become subject, under the 1933 Act or otherwise, insofar as such Losses
(or actions in respect thereof):

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) arise out of or are based upon any materially
untrue statement or any material omission made in any Portfolio document;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) arise out of or are based upon any materially
untrue statement or any material omission made in any Account document, *provided* such statement or omission was made in reliance
upon and in conformity with information provided in writing to Insurer by or on behalf of Fund specifically for use therein;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) arise out of or as a result of statements or
representations (other than statements or representations contained in any Account document on which Fund or LAM have reasonably relied)
or wrongful conduct of Fund, LAM, their respective agents, and persons under their respective control, with respect to the sale of Portfolio
Shares; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) arise out of any material breach of any representation
and/or warranty made by Fund or LAM in this Agreement, or arise out of or result from any other material breach of this Agreement by Fund
or LAM.

Fund and LAM shall reimburse any legal or other expenses reasonably incurred by any Indemnified Party in connection with investigating or defending any such Loss; *provided,* however, that with respect to clause (a) above neither Fund nor LAM shall be liable in any such case to the extent that any such Loss arises out of or is based upon a materially untrue statement or material omission made in any Portfolio document, which statement or omission was made in reliance upon and in conformity with written information furnished to Fund by or on behalf of Insurer specifically for use therein. This indemnity agreement shall be in addition to any liability that Fund or LAM may otherwise have.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.3. Fund and LAM shall indemnify and hold Insurer
harmless against any Loss that Insurer may incur, suffer or be required to pay due to Fund's incorrect calculation of the daily
net asset value, dividend rate or capital gain distribution rate of a Portfolio or incorrect or untimely reporting of the same; *provided,* however, that Fund shall have no obligation to indemnify and hold harmless Insurer if the incorrect calculation or incorrect or untimely
reporting was the result of incorrect or untimely information furnished by or on behalf of Insurer or otherwise as a result of or relating
to Insurer's breach of this Agreement. In no event shall Fund be liable for any consequential, incidental, special or indirect damages
resulting to Insurer hereunder.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.4 Notwithstanding anything herein to the contrary,
in no event shall Fund or LAM be liable to any individual or entity, including without limitation, Insurer, or any Participating Insurance
Company or any Contractholder, with respect to any Losses that arise out of or result from:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) a breach of any representation, warranty, and/or
covenant made by Insurer hereunder or by any Participating Insurance Company under an agreement containing substantially similar representations,
warranties and covenants;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) the failure by Insurer or any Participating Insurance
Company to maintain its separate account (which invests in any Portfolio) as a legally and validly established segregated asset account
under applicable state law and as a duly registered unit investment trust under the provisions of the Act (unless exempt therefrom); or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) the failure by Insurer or any Participating Insurance
Company to maintain its variable annuity and/or variable life insurance contracts (with respect to which any Portfolio serves as an underlying
funding vehicle) as life insurance, endowment or annuity contracts under applicable provisions of the Code.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.5 Further, neither Fund nor LAM shall have
 any liability for any failure or alleged failure to comply with the diversification requirements of Section 817(h) of the Code or
 the regulations thereunder if Insurer fails to comply with any of the following clauses, and such failure could be shown to have
 materially contributed to the liability:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) In the event the Internal Revenue Service ("IRS") asserts in writing in connection with any
governmental audit or review of Insurer or, to Insurer's knowledge, of any Contractholder, that any Portfolio has failed or allegedly
failed to comply with the diversification requirements of Section 817(h) of the Code or the regulations thereunder or Insurer otherwise
becomes aware of any facts that could give rise to any claim against Fund or its affiliates as a result of such a failure or alleged failure,

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) Insurer shall promptly notify Fund of such assertion
or potential claim;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) Insurer shall consult with Fund as to how to minimize any liability that may arise as a result of such failure or alleged failure;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) Insurer shall use its best efforts to minimize any liability of Fund or its affiliates resulting from such failure, including, without limitation, demonstrating, pursuant to Treasury Regulations Section 1.817-5(a)(2), to the Commissioner of the IRS that such failure was inadvertent;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iv) Insurer shall permit Fund, its affiliates and their legal and accounting advisors to participate in any conferences, settlement discussions or other administrative or judicial proceeding or contests (including judicial appeals thereof) with the IRS, any Contractholder or any other claimant regarding any claims that could give rise to liability to Fund or its affiliates as a result of such a failure or alleged failure;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(v) any written materials to be submitted by Insurer to the IRS, any Contractholder or any other claimant in connection with any of the foregoing proceedings or contests (including, without limitation, any such materials to be submitted to the IRS pursuant to Treasury Regulations Section 1.817-5(a)(2)), shall be provided by Insurer to Fund (together with any supporting information or analysis) at least ten (10) Business Days prior to the day on which such proposed materials are to be submitted and shall not be submitted by Insurer to any such person without the express written consent of Fund which shall not be unreasonably withheld;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(vi) Insurer shall provide Fund or its affiliates and their accounting and legal advisors with such cooperation as Fund shall reasonably request (including, without limitation, by permitting Fund and its accounting and legal advisors to review the relevant books and records of Insurer) in order to facilitate review by Fund or its advisors of any written submissions provided to it pursuant to the preceding clause or its assessment of the validity or amount of any claim against its arising from such a failure or alleged failure; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(vii) Insurer shall not with respect to any claim of the IRS or any Contractholder that would give rise to a claim against Fund or its affiliates compromise or settle any claim, accept any adjustment on audit, or forego any allowable judicial appeals, without the express written consent of Fund or its affiliates, which shall not be unreasonably withheld, *provided* that Insurer shall not be required to appeal any adverse judicial decision unless Fund or its affiliates shall have provided an opinion of independent counsel to the effect that a reasonable basis exists for taking such appeal.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.6 Promptly after receipt by an indemnified party
under this Article of notice of the commencement of any action, such indemnified party shall, if a claim in respect thereof is to be made
against the indemnifying party under this Article, notify the indemnifying party of the commencement thereof. The failure to so notify
the indemnifying party shall not relieve the indemnifying party from any liability under this Article IX, except to the extent that the
omission results in a failure of actual notice to the indemnifying party and such indemnifying party is damaged solely as a result of
the failure to give such notice. In case any such action is brought against any indemnified party, and it notified the indemnifying party
of the commencement thereof, the indemnifying party shall be entitled to participate therein and, to the extent that it may wish, assume
the defense thereof, with counsel satisfactory to such indemnified party, and to the extent that the indemnifying party has given notice
to such effect to the indemnified party and is performing its obligations under this Article, the indemnifying party shall not be liable
for any legal or other expenses subsequently incurred by such indemnified party in connection with the defense thereof, other than reasonable
costs of investigation. Notwithstanding the foregoing, in any such proceeding, any indemnified party shall have the right to retain its
own counsel, but the fees and expenses of such counsel shall be at the expense of such indemnified party unless (a) the indemnifying party
and the indemnified party shall have mutually agreed to the retention of such counsel or (b) the named parties to any such proceeding
(including any impleaded parties) include both the indemnifying party and the indemnified party and representation of both parties by
the same counsel would be inappropriate due to actual or potential differing interests between them. The indemnifying party shall not
be liable for any settlement of any proceeding effected without its written consent.

A successor by law of any Party to this Agreement shall be entitled to the benefits of the indemnification contained in this Article IX, which shall survive any termination of this Agreement.

ARTICLE X.

COMMENCEMENT AND TERMINATION

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10.1. This Agreement shall be effective as of the date
hereof and shall continue in force until terminated in accordance with the provisions herein.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10.2. This Agreement shall terminate without penalty
as to one or more Portfolios:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) At the option of Insurer, Distributor, Fund,
or LAM at any time from the date hereof upon 180 days' notice, unless a shorter time is agreed to by the Parties;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) At the option of Insurer if it determines that
shares of any Portfolio are not reasonably available to meet the requirements of the Contracts. Insurer shall furnish prompt notice of
election to terminate and termination shall be effective ten days after receipt of notice unless Fund makes available a sufficient number
of shares to meet the requirements of the Contracts within such ten day period;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) At the option of Insurer or Fund, upon the institution
of formal proceedings against the other or their respective affiliates by the Commission, the NASD or any other regulatory body, the expected
or anticipated ruling, judgment or outcome of which would, in the Insurer's or Fund's reasonable judgment, materially impair the
other's ability to meet and perform its obligations and duties hereunder. Prompt notice of election to terminate shall be furnished
by Insurer or Fund, as the case may be, with termination to be effective upon receipt of notice;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) At the option of Insurer or Fund, if either shall
determine, in its sole judgment reasonably exercised in good faith, that the other has suffered a material adverse change in its business
or financial condition or is the subject of material adverse publicity and such material adverse change or material adverse publicity
is likely to have a material adverse impact upon the business and operation of the Insurer, Fund or LAM, as the case may be. Insurer or
Fund shall notify the other in writing of any such determination and its intent to terminate this Agreement, which termination shall be
effective on the sixtieth (60<sup>th</sup>) day following the giving of such notice, *provided* the determination of Insurer or Fund,
as the case may be, continues to apply on that date.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) Upon termination of the Investment Management
Agreement between Fund, on behalf of its Portfolios, and LAM or its successors unless Insurer specifically approves the selection of a
new investment adviser for the Portfolios. Fund shall promptly furnish notice of such termination to Insurer;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) In the event Portfolio shares are not registered,
issued or sold in accordance with applicable federal law, or such law precludes the use of such shares as the underlying investment medium
of Contracts issued or to be issued by Insurer. Termination shall be effective immediately upon such occurrence without notice;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g) At the option of Fund upon a determination by
the Board in good faith that it is no longer advisable and in the best interests of shareholders for Fund to continue to operate pursuant
to this Agreement. Termination shall be effective upon notice by Fund to Insurer of such termination;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h) At the option of Fund if the Contracts cease
to qualify as annuity contracts or life insurance policies, as applicable, under the Code, or if Fund reasonably believes that the Contracts
may fail to so qualify. Termination shall be effective immediately upon such occurrence or reasonable belief without notice;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) At the option of any Party, upon another's
breach of any material provision this Agreement, which breach has not been cured to the satisfaction of the nonbreaching Parties within
ten days after written notice of such breach is delivered to the breaching Party or within such longer period as may then be agreed by
the non-breaching parties;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(j) At the option of Fund, if the Contracts are not
registered, issued or sold in accordance with applicable federal and/or state law. Termination shall be effective immediately upon such
occurrence without notice;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(k) Upon assignment of this Agreement, unless made
with the written consent of the non-assigning Parties.

Any such termination pursuant to this Article X shall not affect the operation of Articles V or IX of this Agreement. The Parties agree that any termination pursuant to Article VI shall be governed by that Article.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10.3. Notwithstanding any termination of this Agreement
pursuant to Section 10.2 hereof, Fund and LAM may, at the option of Fund, continue to make available additional Portfolio shares for so
long as Fund desires pursuant to the terms and conditions of this Agreement as provided below, for all Contracts in effect on the effective
date of termination of this Agreement (hereinafter referred to as "Existing Contracts"). Specifically, without limitation, if
Fund so elects to make additional Portfolio shares available, the owners of the Existing Contracts or Insurer, whichever shall have legal
authority to do so, shall be permitted to reallocate investments among the Portfolios, redeem investments in the Portfolios and/or invest
in the Portfolios upon the making of additional purchase payments under the Existing Contracts. In the event of a termination of this
Agreement pursuant to Section 10.2 hereof, Fund, as promptly as is practicable under the circumstances, shall notify Insurer whether Fund
shall continue to make Portfolio shares available after such termination. If Portfolio shares continue to be made available after such
termination, the provisions of this Agreement shall remain in effect and thereafter either Fund or Insurer may terminate the Agreement,
as so continued pursuant to this Section 10.3, upon prior written notice to the other Parties, such notice to be for a period that is
reasonable under the circumstances but, if given by Fund, need not be for more than six months.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10.4. In the event of any termination of this Agreement
pursuant to Section 10.2 hereof, the Parties agree to cooperate and give reasonable assistance to one another in taking all necessary
and appropriate steps for the purpose of ensuring that a Separate Account owns no shares of a Portfolio beyond six months from the date
of termination. Such steps may include, without limitation, substituting other mutual fund shares for those of the affected Portfolio.

ARTICLE XI.

AMENDMENTS

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11.1. Any changes in the terms of this Agreement shall
be made by agreement in writing by the Parties hereto.

ARTICLE XII.

NOTICE

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12.1. Each notice required by this Agreement shall be given by certified mail,
return receipt requested, to the appropriate Parties at the following addresses:

---

| | |
|:---|:---|
| Insurer: | The Ohio National Life Insurance Company<br> One Financial Way<br> Cincinnati, Ohio 45242<br> Attention: John J. Palmer |
| Distributor: | Ohio National Equities, Inc.<br> One Financial Way<br> Cincinnati, Ohio 45242<br> Attention: John J. Palmer |
| Fund: | Lazard Retirement Series, Inc.<br> 30 Rockefeller Plaza |
|  | New York, New York 10112<br> Attention: Steven Swain |
| LAM: | Lazard Asset Management |
|  | 30 Rockefeller Plaza |
|  | New York, New York 10112<br> Attention: William Butterly, Esq. |
| with copies to: | Stroock & Stroock & Lavan LLP<br> 180 Maiden Lane |
|  | New York, New York 10038-4982 |
|  | Attn: Stuart H. Coleman, Esq. |

---

Notice shall be deemed to be given on the date of receipt by the addresses as evidenced by the return receipt.

ARTICLE XIII

MISCELLANEOUS

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13.1. This Agreement has been executed on behalf of
the Parties by the undersigned duly authorized officers in their capacities as officers of Insurer, Distributor, LAM, and Fund.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13.2. If any provision of this Agreement is held or
made invalid by a court decision, statute, rule, or otherwise, the remainder of this Agreement will not be affected thereby.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13.3. The rights, remedies, and obligations contained
in this Agreement are cumulative and are in addition to any and all rights, remedies and obligations, at law or in equity, that the Parties
are entitled to under federal and state laws.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13.4. This Agreement may be executed simultaneously
in two or more counterparts, each of which taken together shall constitute one and the same instrument.

ARTICLE XIV.

LAW

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14.1. This Agreement shall be construed in accordance
with the internal laws of the State of New York, without giving effect to principles of conflict of laws.

IN WITNESS WHEREOF, the Parties hereto have executed this Agreement to be duly executed and attested as of the date first above written.

---

| | | | |
|:---|:---|:---|:---|
|  |  | THE OHIO NATIONAL LIFE INSURANCE COMPANY AND OHIO NATIONAL LIFE ASSURANCE CORPORATION | THE OHIO NATIONAL LIFE INSURANCE COMPANY AND OHIO NATIONAL LIFE ASSURANCE CORPORATION |
|  |  | By: | /s/ John J. Palmer |
|  |  |  | John J. Palmer, Senior Vice President |
| Attest: | ![](fp0096724-1_01.jpg) |  |  |
|  |  | OHIO NATIONAL EQUITIES, INC. | OHIO NATIONAL EQUITIES, INC. |
|  |  | By: |  |
|  |  |  | John J. Palmer, President |
| Attest: | ![](fp0096724-1_01.jpg) |  |  |
|  |  | LAZARD RETIREMENT SERIES, INC. | LAZARD RETIREMENT SERIES, INC. |
|  |  | By: | ![](fp0096724-1_02.jpg) |
| Attest: |  |  |  |
|  |  | LAZARD ASSET MANAGEMENT, LLC<br> a division of Lazard Freres & Co., LLC | LAZARD ASSET MANAGEMENT, LLC<br> a division of Lazard Freres & Co., LLC |
|  |  | By: | ![](fp0096724-1_03.jpg) |
| Attest: |  |  |  |

---

SCHEDULE 1

<u>Portfolios</u>

Lazard Retirement Bantam Value Portfolio

Lazard Retirement Emerging Markets Portfolio

Lazard Retirement Equity Portfolio

Lazard Retirement Global Equity Portfolio

Lazard Retirement International Equity Portfolio

Lazard Retirement International Fixed-Income Portfolio

Lazard Retirement International Small Cap Portfolio

Lazard Retirement Small Cap Portfolio

Lazard Retirement Strategic Yield Portfolio

<u>Separate Accounts and Contracts</u>

Ohio National Variable Account A

>ONcore Series of Variable Annuities

Ohio National Variable Account R

>Vari-Vest Series of Variable Life Insurance

SCHEDULE 2

**<u>PORTFOLIO SHARE ORDER PROCESSING</u>**

**<u>Timely Pricing and Orders</u>**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. Each Business Day, Fund shall use its best efforts
to make each Portfolio's closing net asset value per share ("NAV") on that Day available to Insurer by 6:30 p.m. New
York time.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. At the end of each Business Day, Insurer shall
use the information described above to calculate each Separate Account's unit values for that Day. Using this unit value, Insurer
shall process that Day's Contract and Separate Account transactions to determine the net dollar amount of each Portfolio's
shares to be purchased or redeemed.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3. Insurer shall transmit net purchase or redemption
orders to Fund or its designee by 9:00 a.m. New York time on the Business Day next following Insurer's receipt of the information relating
to such orders in accordance with paragraph 1 above; *provided,* however, that Fund shall provide additional time to Insurer in the
event Fund is unable to meet the 6:30 p.m. deadline stated above. Such additional time shall be equal to the additional time that Fund
takes to make the net asset values available to Insurer.

**<u>Timely Payments</u>**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4. Insurer shall pay for any net purchase order
by wiring Federal Funds to Fund or its designated custodial account by 12:00 noon New York time on the same Business Day it transmits
the order to Fund pursuant to paragraph 3 above.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5. Fund shall pay for any net redemption order by
wiring the redemption proceeds to Insurer, except as provided below, within three (3) Business Days or, upon notice to Insurer, such longer
period as permitted by the Act or the rules, orders or regulations thereunder. In the case of any net redemption order valued at or greater
than $1 million, Fund shall wire such amount to Insurer within seven days of the order. In the case of any net redemption order requesting
the application of proceeds from the redemption of one Portfolio's shares to the purchase of another Portfolio's shares, Fund
shall so apply such proceeds the same Business Day that Insurer transmits such order to Fund.

**<u>Applicable Price</u>**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6. Fund shall execute purchase and redemption orders
for a Portfolio's shares that relate to Contract transactions at that Portfolio's NAV next determined after Fund or its designated
agent receives the order. For this purpose, Fund hereby appoints Insurer as its agent for the limited purpose of receiving orders for
the purchase and redemption of shares of each Portfolio for each Separate Account; *provided* that Fund receives both the notice
of the order in accordance with paragraph 3 above and any related purchase payments in accordance with paragraph 4 above.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7. Fund shall execute purchase and redemption orders
for a Portfolio's shares that relate to Insurer's General Account, or that do not relate to Contract transactions, at that
Portfolio's NAV next determined after Fund (not Insurer) receives the order and any related purchase payments in accordance with
paragraph 4 above.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8. Fund shall execute purchase and redemption orders
for a Portfolio Shares that relate to Contracts funded by registered and unregistered Separate Accounts in the same manner, but only to
the extent that Insurer represents and warrants that it is legally or contractually obligated to treat such orders in the same manner.
Each order for Portfolio shares placed by Insurer that is attributable, in whole or in part, to Contracts funded by an unregistered Separate
Account, shall be deemed to constitute such representation and warranty by Insurer unless the order specifically states to the contrary.
Otherwise, Fund shall treat orders attributable to unregistered Separate Account Contracts in the same manner as orders for Insurer's
General Account. For these purposes, a registered Separate Account is one that is registered under the Act; an unregistered Separate Account
is one that is not.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9. Fund shall execute purchase or redemption orders
for a Portfolio's shares that do not satisfy the conditions specified in paragraphs 3 and 4 above, as applicable, at the Portfolio's
NAV next determined after such conditions have been satisfied and in accordance with paragraphs 6 or 7, whichever applies.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10. If Fund does not receive payment in Federal Funds
for any net purchase order in accordance with paragraph 4 above, Insurer shall promptly, upon Fund's request, reimburse Fund for any charges,
costs, fees, interest or other expenses incurred by Fund in connection with any advances to, or borrowings or overdrafts by, Fund, or
any similar expenses incurred by Fund, as a result of portfolio transactions effected by Fund based upon such purchase request.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11. If Fund provides Insurer with materially incorrect
net asset value per share information through no fault of Insurer, Insurer, on behalf of the Separate Account, shall be entitled to an
adjustment to the number of shares purchased or redeemed to reflect the correct net asset value per share in accordance with Fund's
current policies for correcting pricing errors. Any material error in the calculation of net asset value per share, dividend or capital
gain information shall be reported promptly upon discovery to Insurer.

## Exhibit 99.30

**PARTICIPATION AGREEMENT**

**BY AND AMONG**

**THE OHIO NATIONAL LIFE INSURANCE COMPANY, ON BEHALF OF ITSELF AND**

**ITS SEPARATE ACCOUNTS**

**AND**

**SALOMON BROTHERS VARIABLE SERIES FUNDS INC**

**PARTICIPATION AGREEMENT**

THIS AGREEMENT, made and entered into as of March 23, 1998 ("Agreement"), by and among Salomon Brothers Variable Series Funds Inc, a Maryland corporation (the "Fund"), and The Ohio National Life Insurance Company, an Ohio life insurance company ("LIFE COMPANY"), on behalf of itself and each of its segregated asset accounts listed in Schedule A hereto, as the parties hereto may amend from time to time (each, an "Account," and collectively, the "Accounts").

**WITNESSETH THAT:**

**WHEREAS**, the Fund *is* registered with the Securities and Exchange Commission ("SEC") as an open-end management investment company under the Investment Company Act of 1940, as amended (the "1940 Act");

**WHEREAS**, the Fund is available to the extent set forth herein to act as the investment vehicle for separate accounts established for variable life insurance policies and variable annuity contracts to be offered by insurance companies which have entered into participation agreements with the Fund and ("Participating Insurance Companies");

**WHEREAS**, the Fund currently consists of seven separate investment portfolios, shares ("Shares") of each of which are registered under the Securities Act of 1933, as amended (the "1933 Act");

**WHEREAS**, the Fund will make Shares of each investment portfolio of the Fund listed on Schedule A hereto (each, a "Portfolio" and collectively, the "Portfolios") as the Parties hereto may amend from time to time available for purchase by the Accounts;

**WHEREAS**, the Fund has applied for an order (the "Order") from the SEC to permit Participating Insurance Companies and variable annuity and variable life insurance separate accounts exemptions from the provisions of sections 9(a), 13(a), 15(a), and 15(b) of the 1940 Act and Rules 6e-2(b) (15) and 6e-3(T) (b) (15) thereunder, to the extent necessary to permit shares of the Fund to be sold to and held by variable annuity and variable life insurance separate accounts of both affiliated and unaffiliated life insurance companies;

**WHEREAS**, LIFE COMPANY will be the issuer of certain variable annuity contracts and variable life insurance policies (collectively, the "Contracts") as set forth on Schedule A hereto, as the Parties hereto may amend from time to time, which Contracts, if required by applicable law, will be registered under the 1933 Act;

**WHEREAS**, LIFE COMPANY will, to the extent set forth herein, fund the variable life insurance policies and variable annuity contracts through the Accounts, each of which may be divided into two or more subaccounts ("Subaccounts"; reference herein to an "Account" includes reference to each Subaccount thereof to the extent the context requires);

**WHEREAS**, LIFE COMPANY will serve as the depositor of the Accounts, each of which is registered as a unit investment trust under the 1940 Act (or exempt therefrom), and the security interests deemed to be issued by the Accounts under the Contracts will be registered as securities under the 1933 Act (or exempt therefrom);

**WHEREAS**, to the extent permitted by applicable insurance laws and regulations, LIFE COMPANY intends to purchase Shares in one or more of the Portfolios on behalf of the Accounts to fund the Contracts; and

**NOW, THEREFORE**, in consideration of the mutual benefits and promises contained herein, the Parties hereto agree as follows:

**<u>Section 1. Available Portfolios</u>**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1.1 <u>Available Portfolios</u>.**

The Fund will make Shares of each Portfolio listed on Schedule A available to LIFE COMPANY for purchase and redemption at net asset value next computed and with no sales charges, in accordance with the Fund's then current prospectus and subject to the terms and conditions of this Agreement. The Board of Directors of the Fund may refuse to sell Shares of any Portfolio to any person, or suspend or terminate the offering of Shares of any Portfolio if such action is required by law or by regulatory authorities having jurisdiction or if, in the sole discretion of the Directors acting in good faith and in light of their fiduciary duties under federal and any applicable state laws, such action is deemed in the best interests of the shareholders of such Portfolio.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1.2 <u>Addition, Deletion or Modification of Portfolios</u>.**

The Parties hereto may agree, from time to time, to add other Portfolios to provide additional funding alternatives for the Contracts, or to delete or modify existing Portfolios, by amending Schedule A hereto. Upon such amendment to Schedule A, any applicable reference to a Portfolio, the Fund, or its Shares herein shall include a reference to all Portfolios set forth on Schedule A as then amended. Schedule A, as amended from time to time, is incorporated herein by reference and is a part hereof.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1.3 <u>No Sales to the General Public</u>.**

The Fund represents that shares of the Portfolios will be sold only to Participating Insurance Companies, their separate accounts and qualified pension and retirement plans ("Plans") and that no Shares of any Portfolio have been or will be sold to the general public.

**<u>Section 2. Processing Transactions</u>**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**2.1 Placing Orders.**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) The Fund or its designated agent will use its best effort to provide LIFE COMPANY with the net asset value per Share for each Portfolio by 6:30 p.m. Eastern Time on each Business Day. As used herein, "Business Day" shall mean any day on which (i) the New York Stock Exchange is open for regular trading, and (ii) the Fund calculates the Portfolios' net asset value.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) LIFE COMPANY will use the data provided by the Fund each Business Day pursuant to paragraph (a) immediately above to calculate Account unit values and to process transactions that receive that same Business Day's Account unit values. LIFE COMPANY will perform such Account processing the same Business Day, and will place corresponding orders to purchase or redeem Shares with the Fund by 9:00 a.m. Eastern Time the following Business Day.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) With respect to payment of the purchase price by LIFE COMPANY and of redemption proceeds by the Fund, LIFE COMPANY and the Fund shall net purchase and redemption orders with respect to each Portfolio and shall transmit one net payment per Portfolio in accordance with Section *2.2,* below.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) If the Fund provides materially incorrect Share net asset value information (as determined under SEC guidelines), LIFE COMPANY shall be entitled to an adjustment to the number of Shares purchased or redeemed to reflect the correct net asset value per Share. Any material error in the calculation or reporting of net asset value per Share, dividend or capital gain information shall be reported promptly upon discovery to LIFE COMPANY.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**2.2 <u>Payments</u>.**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) LIFE COMPANY shall pay for Shares of each Portfolio on the same day that it notifies the Fund of a purchase request for such Shares. Payment for Shares shall be made in federal funds transmitted to the Fund by wire to be received by the Fund by 1:00 P.M. Eastern Time on the day the Fund is notified of the purchase request for Shares. If payment in federal funds for any purchase is not received, or is received by the Fund after 1:00 p.m. Eastern Time on such Business Day, the LIFE COMPANY shall promptly, upon the Fund's request, reimburse the Fund for any charges, costs, fees, interest or other expenses incurred by the Fund in connection with any advances to, or borrowings or overdrafts by, the Fund, or any similar expenses incurred by the Fund, as a result of non-payment or late payment.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) The Fund will wire payment in federal funds for net redemptions to an account designated by LIFE COMPANY by 1:00 p.m. Eastern Time on the business day succeeding the day the order is placed, to the extent practicable, but in any event within five (5) calendar days after the date the order is placed in order to enable LIFE COMPANY to pay redemption proceeds within the time specified in Section 22(e) of the 1940 Act. The Fund shall not bear any responsibility whatsoever for the proper disbursement or crediting of redemption proceeds by LIFE COMPANY.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**2.3 <u>Applicable Price</u>.**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Share purchase payments and redemption orders that result from purchase payments, premium payments, surrenders and other transactions under Contracts (collectively, "Contract transactions") and that LIFE COMPANY receives prior to the close of regular trading on the New York Stock Exchange on a Business Day will be executed at the net asset values of the appropriate Portfolios next computed after receipt by the Fund or its designated agent of the orders. For purposes of this Section 2.3(a), LIFE COMPANY shall be the designated agent of the Fund for receipt of orders relating to Contract transactions on each Business Day and receipt by such designated agent shall constitute receipt by the Fund; *provided* that the Fund receives notice of such orders by 9:00 a.m. Eastern Time on the following Business Day.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) All other Share purchases and redemptions by LIFE COMPANY will be effected at the net asset values of the appropriate Portfolios next computed after receipt by the Fund or its designated agent of the order therefor, and such orders will be irrevocable.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**2.4 <u>Dividends and Distributions</u>.**

The Fund will furnish notice by wire or telephone (followed by written confirmation) on or prior to the payment date to LIFE COMPANY of any income dividends or capital gain distributions payable on the Shares of any Portfolio. LIFE COMPANY hereby elects to reinvest all dividends and capital gains distributions in additional Shares of the corresponding Portfolio at the ex-dividend date net asset values until LIFE COMPANY otherwise notifies the Fund in writing, it being agreed by the Parties that the ex-dividend date and the payment date with respect to any dividend or distribution will be the same Business Day. LIFE COMPANY reserves the right to revoke this election and to receive all such income dividends and capital gain distributions *in* cash. Any such revocation will take effect with respect to the next income dividend or capital gain distribution following receipt by the Fund of such notification from LIFE COMPANY.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**2.5 <u>Book Entry</u>.**

Issuance and transfer of Portfolio Shares will be by book entry only. Stock certificates will not be issued to LIFE COMPANY. Shares ordered from the Fund will be recorded in an appropriate title for LIFE COMPANY, on behalf of its Accounts.

**<u>Section 3. Costs and Expenses</u>**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**3.1 <u>General</u>.**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Except as otherwise specifically provided herein, each party will bear all expenses incident to its performance under this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) The Fund shall pay no fee or other compensation to the LIFE COMPANY under this agreement, except that if the Fund or any Portfolio adopts and implements a plan pursuant to Rule 12b-1 to finance distribution expenses, then the Fund may make payments to the LIFE COMPANY or to the underwriter for the Contracts if and in amounts agreed to by the Fund in writing. Presently, no such payments are contemplated.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**3.2 <u>Registration</u>.**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) The Fund will bear the cost of its registering as a management investment company under the 1940 Act and registering its Shares under the 1933 Act, and keeping such registrations current and effective; including, without limitation, the preparation of and filing with the SEC of Forms N-SAR and Rule 24f-2 Notices with respect to the Fund and its Shares and payment of all applicable registration or filing fees with respect to any of the foregoing.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) LIFE COMPANY will bear the cost of registering, to the extent required, each Account as a unit investment trust under the 1940 Act and registering units of interest under the Contracts under the 1933 Act and keeping such registrations current and effective; including, without limitation, the preparation and filing with the SEC of For.ms N-SAR and Rule 24f-2 Notices with respect to each Account and its units of interest and payment of all applicable registration or filing fees with respect to any of the foregoing.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**3.3 <u>Distribution Expenses</u>.**

LIFE COMPANY will bear the expenses of distribution. These expenses would include by way of illustration, but are not limited to, the costs of distributing to Contract owners, annuitants, insureds or participants (as appropriate) under the Contracts (collectively, "Participants") the following documents, whether they relate to the Account or the Fund: prospectuses, statements of additional information, proxy materials and periodic reports. These costs would also include the costs of preparing, printing, and distributing sales literature and advertising relating to the Portfolios (all of which require the prior written consent of the Fund), as well as filing such materials with, and obtaining approval from, the SEC, NASD, any state insurance regulatory authority, and any other appropriate regulatory authority, to the extent required.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**3.4 <u>Other Expenses</u>.**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) The Fund will bear, or arrange for others to bear, the costs of preparing, filing with the SEC and setting for printing the Fund's prospectus, statement of additional information and any amendments or supplements thereto (collectively, the "Fund Prospectus"), periodic reports to shareholders, the Fund proxy material and other shareholder communications.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) LIFE COMPANY will bear the costs of preparing, filing with the SEC and setting for printing each Account's prospectus, statement of additional information and any amendments or supplements thereto (collectively, the "Account Prospectus"), any periodic reports to Participants, voting instruction solicitation material, and other Participant communications.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) LIFE COMPANY will print in quantity and deliver to existing Participants the documents described in Section 3.4(b) above and the prospectus provided by the Fund in camera ready or computer diskette form. The Fund will print the Fund statement of additional information, proxy materials relating to the Fund and periodic reports of the Fund.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**3.5 <u>Parties To Cooperate</u>.**

Each party agrees to cooperate with the other, in arranging to print, mail and/or deliver, in a timely manner, combined or coordinated prospectuses or other materials of the Fund and the Accounts.

**<u>Section 4. Legal Compliance</u>**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**4.1 <u>Tax Laws</u>.**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) The Fund represents and warrants that it will elect to be qualified as a regulated investment company ("RIC") under Subchapter M of the Internal Revenue Code of 1986, as amended (the "Code"), and represents that it will use its best efforts to qualify and to maintain its qualification as a RIC and to comply with the diversification requirements set forth in Section 817(h) of the Code and the regulations thereunder. The Fund will notify LIFE COMPANY immediately upon having a reasonable basis for believing that it has ceased to so qualify or so comply, or that it might not so qualify or so comply in the future.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) LIFE COMPANY represents and warrants that the Contracts currently are and will be treated as annuity contracts or life insurance contracts under applicable provisions of the Code and that it will use its best efforts to maintain such treatment; LIFE COMPANY will notify the Fund immediately upon having a reasonable basis for believing that any of the Contracts have ceased to be so treated or that they might not be so treated in the future.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) LIFE COMPANY represents and warrants that each Account is a "segregated asset account" and that interests in each Account are offered exclusively through the purchase of or transfer into a "variable contract," within the meaning of such terms under Section 817 of the Code and the regulations thereunder. LIFE COMPANY will use its best efforts to continue to meet such definitional requirements, and it will notify the Fund immediately upon having a reasonable basis for believing that such requirements have ceased to be met or that they might not be met in the future.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**4.2 <u>Insurance and Certain Other Laws</u>.**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) LIFE COMPANY represents and warrants that (i) it is an insurance company duly organized, validly existing and in good standing under all applicable laws and has full corporate power, authority and legal right to execute, deliver and perform its duties and comply with its obligations under this Agreement, (ii) it has legally and validly established and maintains each Account as a segregated asset account under all applicable laws and regulations, and (iii) the Contracts comply in all material respects with all applicable federal and state laws and regulations.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) The Fund represents and warrants that it is a corporation duly organized, validly existing, and in good standing under the laws of the State of Maryland and has full corporate power, authority, and legal right to execute, deliver, and perform its duties and comply with its obligations under this Agreement. Notwithstanding the foregoing, the Fund, makes no representations as to whether any aspect of its operations (including, but not limited to, fees and expenses and investment policies) otherwise complies with the insurance laws or regulations of any state.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) LIFE COMPANY acknowledges and agrees that it *is* the responsibility of LIFE COMPANY and other Participating Insurance Companies to determine investment restrictions under state insurance law applicable to any Portfolio, and that the Fund shall bear no responsibility to LIFE COMPANY, for any such determination or the correctness of such determination. LIFE COMPANY has determined that the investment restrictions set forth in the current Fund Prospectus are sufficient to comply with all investment restrictions under state insurance laws that are currently applicable to the Portfolios as a result of the Accounts' investment therein. LIFE COMPANY shall inform the Fund of any additional investment restrictions imposed by state insurance law after the date of this agreement that may become applicable to the Fund or any Portfolio from time to time as a result of the Accounts' investment therein. Upon receipt of any such information from LIFE COMPANY or any other Participating Insurance Company, the Fund shall determine whether it *is* in the best interests of shareholders to comply with any such restrictions. If the Fund determines that it is not in the best interests of shareholders to comply with a restriction determined to be applicable by the LIFE COMPANY, the Fund shall so inform LIFE COMPANY, and the Fund and LIFE COMPANY shall discuss alternative accommodations in the circumstances.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**4.3 <u>Securities Laws</u>.**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) LIFE COMPANY represents and warrants that (i) interests in each Account pursuant to the Contracts will be registered under the 1933 Act to the extent required by the 1933 Act, (ii) the Contracts will be duly authorized for issuance and sold in compliance with all applicable federal and state laws, including, without limitation, the 1933 Act, the 1934 Act, the 1940 Act and applicable state law, (iii) each Account is and will remain registered under the 1940 Act, to the extent required by the 1940 Act, (iv) each Account does and will comply in all material respects with the requirements of the 1940 Act and the rules thereunder, to the extent required, (v) each Account's 1933 Act registration statement relating to the Contracts, together with any amendments thereto, will at all times comply in all material respects with the requirements of the 1933 Act and the rules thereunder, (vi) LIFE COMPANY will amend the registration statement for its Contracts under the 1933 Act and for its Accounts under the 1940 Act from time to time as required in order to effect the continuous offering of its Contracts or as may otherwise be required by applicable law, (vii) each Account Prospectus will at all times comply in all material respects with the requirements of the 1933 Act and the rules thereunder, (viii) all of its directors, officers, employees, investment advisers, and other individuals/entities having access to the funds and/or securities of any Portfolio are and continue to be at all times covered by a blanket fidelity bond or similar coverage covering such risks and in such amount as is customary for companies engaged in similar businesses in similar industries. The aforesaid bond includes coverage for larceny and embezzlement and is issued by a reputable bonding company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) The Fund represents and warrants that (i) Shares sold pursuant to this Agreement will be registered under the 1933 Act to the extent required by the 1933 Act and will be duly authorized for issuance and sold in compliance with Maryland law, (ii) the Fund is and will remain registered under the 1940 Act to the extent required by the 1940 Act, (iii) the Fund will amend the registration statement under the 1933 Act and the 1940 Act from time to time as required in order to effect the continuous offering of its Shares, (iv) the Fund does and will comply in all material respects with the requirements of the 1940 Act and the rules thereunder, (v) the Fund's 1933 Act registration statement, together with any amendments thereto, will at all times comply in all material respects with the requirements of the 1933 Act and rules thereunder, (vi) the Fund's Prospectus will at all times comply in all material respects with the requirements of the 1933 Act and the rules thereunder and (vii) all of its directors, officers, employees, investment advisers, and other individuals/entities having access to the funds and/or securities of any Portfolio are and continue to be at all times covered by a blanket fidelity bond or similar coverage for the benefit of the Fund in an amount not less than the minimal coverage as required currently by Rule 17g-(l) of the 1940 Act or related provisions as may be promulgated from time to time. The aforesaid bond includes coverage for larceny and embezzlement and is issued by a reputable bonding company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) The Fund will at its expense register and qualify its Shares for sale in accordance with the laws of any state or other jurisdiction if and to the extent reasonably deemed advisable by the Fund.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**4.4 <u>Notice of Certain Proceedings and Other Circumstances</u>.**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) The Fund will immediately notify LIFE COMPANY of (i) the issuance by any court or regulatory body of any stop order, cease and desist order, or other similar order with respect to the Fund's registration statement under the 1933 Act or the Fund Prospectus, (ii) any request by the SEC for any amendment to such registration statement or the Fund Prospectus that may affect the offering of Shares of any Portfolio, (iii) the initiation of any proceedings for that purpose or for any other purpose relating to the registration or offering of Shares of any Portfolio, or (iv) any other action or circumstances that may prevent the lawful offer or sale of Shares of any Portfolio in any state or jurisdiction, including, without limitation, any circumstances in which such Shares are not registered and are not, in all material respects, issued and sold in accordance with applicable state and federal law. The Fund will make every reasonable effort to prevent the issuance of any such stop order, cease and desist order or similar order and, if any such order is issued, to obtain the lifting thereof at the earliest possible time.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) LIFE COMPANY will immediately notify the Fund of (i) the issuance by any court or regulatory body of any stop order, cease and desist order, or other similar order with respect to each Account's registration statement under the 1933 Act relating to the Contracts or each Account Prospectus, (ii) any request by the SEC for any amendment to such registration statement or Account Prospectus that may affect the offering of Shares of any Portfolio, (iii) the initiation of any proceedings for that purpose or for any other purpose relating to the registration or offering of each Account's interests pursuant to the Contracts, or (iv) any other action or circumstances that may prevent the lawful offer or sale of said interests in any state or jurisdiction, including, without limitation, any circumstances in which said interests are not registered and are not, in all material respects, issued and sold in accordance with applicable state and federal law. LIFE COMPANY will make every reasonable effort to prevent the issuance of any such stop order, cease and desist order or similar order and, if any such order is issued, to obtain the lifting thereof at the earliest possible time.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**4.5 <u>Documents Provided by LIFE COMPANY; Information About the Fund</u>.**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) LIFE COMPANY will provide to the Fund or its designated agent at least one (1) complete copy of all SEC registration statements, Account Prospectuses, reports, any preliminary and final voting instruction solicitation material, applications for exemptions, requests for no-action letters, and all amendments to any of the above, that relate to each Account or the Contracts, contemporaneously with the filing of such document with the SEC or other regulatory authorities.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) LIFE COMPANY will provide to the Fund or its designated agent at least one (1) complete copy of each piece of sales literature or other promotional material in which any Portfolio, the Fund or any of its affiliates is named, at least ten (10) Business Days prior to its use or such shorter period as the Parties hereto may, from time to time, agree upon. No such material shall be used if the Fund or its designated agent objects to such use within ten (10) Business Days after receipt of such material or such shorter period as the Parties hereto may, from time to time, agree upon.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) Neither LIFE COMPANY nor any of its affiliates, will give any information or make any representations or statements on behalf of or concerning any Portfolio, the Fund or its affiliates in connection with the sale of the Contracts other than (i) the information or representations contained in the then current registration statement, including the Fund Prospectus contained therein, relating to Shares, as such registration statement and the Fund Prospectus may be amended from time to time; (ii) in reports or proxy materials for the Fund; (iii) *in* published reports for the Fund that are in the public domain and approved by the Fund for distribution by LIFE COMPANY; or (iv) in sales literature or other promotional material approved by the Fund for use by LIFE COMPANY, except with the express written permission of the Fund.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) LIFE COMPANY shall adopt and implement procedures reasonably designed to ensure that information concerning the Fund and its affiliates that is intended for use only by brokers or agents selling the Contracts (i.e., information that is not intended for distribution to Participants) ("broker only materials") is so used, and neither the Fund nor any of its affiliates shall be liable for any losses, damages or expenses relating to the improper use of such broker only materials.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) For the purposes of this Section 4.5, the phrase "sales literature or other promotional material" includes, but is not limited to, advertisements (such as material published, or designed for use in, a newspaper, magazine, or other periodical, radio, television, telephone or tape recording, videotape display, signs or billboards, motion pictures, or other public media (*e.g.,* on-line networks such as the Internet or other electronic messages)), sales literature (i.e., any written communication distributed or made generally available to customers or the public, including brochures, circulars, research reports, market letters, form letters, seminar texts, reprints or excerpts of any other advertisement, sales literature, or published article), educational or training materials or other communications distributed or made generally available to some or all agents or employees, registration statements, prospectuses, statements of additional information, shareholder reports, and proxy materials and any other material constituting sales literature or advertising under the NASD rules, the 1933 Act or the 1940 Act.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**4.6 <u>Documents Provided by Fund; Information About LIFE COMPANY</u>.**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) The Fund will provide to LIFE COMPANY at least one (1) complete copy of all SEC registration statements, Fund Prospectuses, reports, any preliminary and final proxy material, applications for exemptions, requests for no-action letters, and all amendments to any of the above, that relate to the Fund or the Shares of a Portfolio, contemporaneously with the filing of such document with the SEC or other regulatory authorities.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) The Fund will provide to LIFE COMPANY camera ready or computer diskette copies of all Fund prospectuses, and printed copies of all statements of additional information, proxy materials, periodic reports to shareholders and other materials required by law to be sent to Participants who have allocated any Contract value to a Portfolio. The Fund will provide such copies to LIFE COMPANY in a timely manner so as to enable LIFE COMPANY to print and distribute such materials within the time required by law to be furnished to Participants.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) The Fund will provide to LIFE COMPANY or its designated agent at least one (1) complete copy of each piece of sales literature or other promotional material in which LIFE COMPANY, or any of its respective affiliates is named, or that refers to the Contracts, at least ten (10) Business Days prior to its use or such shorter period as the Parties hereto may, from time to time, agree upon. No such material shall be used if LIFE COMPANY or its designated agent reasonably objects to such use within ten (10) Business Days after receipt of such material or such shorter period as the Parties hereto may, from time to time, agree upon.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) Neither the Fund nor any of its affiliates will give any information or make any representations or statements on behalf of or concerning LIFE COMPANY, each Account, or the Contracts other than (i) the information or representations contained in the registration statement, including each Account Prospectus contained therein, relating to the Contracts, as such registration statement and Account Prospectus may be amended from time to time; (ii) in published reports for the Account or the Contracts that are in the public domain and approved by LIFE COMPANY for distribution; or (iii) in sales literature or other promotional material approved by LIFE COMPANY or its affiliates, except with the express written permission of LIFE COMPANY.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) The Fund shall cause its principal underwriter to adopt and implement procedures reasonably designed to ensure that information concerning LIFE COMPANY, and its respective affiliates that is intended for use only by brokers or agents selling the Contracts (i.e., information that is not intended for distribution to Participants) ("broker only materials") is so used, and neither LIFE COMPANY, nor any of its respective affiliates shall be liable for any losses, damages or expenses relating to the improper use of such broker only materials.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) For purposes of this Section 4.6, the phrase "sales literature or other promotional material" includes, but is not limited to, advertisements (such as material published, or designed for use in, a newspaper, magazine, or other periodical, radio, television, telephone or tape recording, videotape display, signs or billboards, motion pictures, or other public media *(i.e.,* any written communication distributed or made generally available to customers or the public, including brochures, circulars, research reports, market letters, form letters, seminar texts, reprints or excerpts of any other advertisement, sales literature, or published article), educational or training materials or other communications distributed or made generally available to same or all agents or employees , registration statements, prospectuses, statements of additional information, shareholder reports, and proxy materials and any other material constituting sales literature or advertising under the NASD rules, the 1933 Act or the 1940 Act.

**<u>Section 5. Mixed and Shared Funding</u>**

LIFE COMPANY acknowledges that the Fund has filed an application with the SEC to request an order granting relief from various provisions of the 1940 Act and the rules thereunder to the extent necessary to permit Fund shares to be sold to and held by variable annuity and variable life insurance separate accounts of both affiliated and unaffiliated Participating Insurance Companies, as well as by Plans. Any conditions or undertakings that may be imposed on LIFE COMPANY and the Fund by virtue of such order shall be incorporated herein by reference, as of the date such order is granted, as though set forth herein in full, and the parties to this Agreement shall comply with such conditions and undertakings to the extent applicable to each such party.

**<u>Section 6. Termination</u>**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**6.1 <u>Events of Termination</u>.**

Subject to Section 6.4 below, this Agreement will terminate as to a Portfolio:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) at the option of any party, with or without cause, upon six (6) months advance written notice to the other parties; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) at the option of the Fund upon institution of formal processing against LIFE COMPANY or its affiliates by the NASD , the SEC, any state insurance regulator or any other regulatory body regarding LIFE COMPANY's obligations under this Agreement or related to the sale of the Contracts, the operation of each Account, or the purchase of Shares, if, in each case, the Fund reasonably determines that such proceedings, or the facts on which such proceedings would be based, have a material likelihood of imposing material adverse consequences on the Portfolio with respect to which the Agreement is to be terminated; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) at the option of LIFE COMPANY upon institution of formal proceedings against the Fund, its principal underwriter, or its investment adviser by the NASD, the SEC, or any state insurance regulator or any other regulatory body regarding the Fund's obligations under this Agreement or related to the operation or management of the applicable Portfolio or the purchase of the applicable Portfolios, if, in each case, LIFE COMPANY reasonably determines that such proceedings , or the facts on which such proceedings would be based, have a material likelihood of imposing material adverse consequences on LIFE COMPANY, or the Subaccount corresponding to the Portfolio with respect to which the Agreement is to be terminated; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) at the option of any party in the event that (i) a Portfolio's Shares are not registered and, in all material respects, issued and sold in accordance with any applicable federal or state law, or (ii) such law precludes the use of such Shares as an underlying investment medium of the Contracts issued or to be issued by LIFE COMPANY; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) at the option of LIFE COMPANY if the applicable Portfolio ceases to qualify as a RIC under Subchapter M of the Code or under successor or similar provisions or fails to comply with the diversification requirements of Section 817(h) of the Code or such requirements under successor or similar provisions and the Fund, upon written request fails to provide reasonable assurance that it will take action to cure or correct such failure; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) at the option of the Fund if the Contracts issued by LIFE COMPANY cease to qualify as annuity contracts or life insurance contracts under the Code or if interests in an Account under the Contracts are not registered, where required, and, in all material respects, are not issued or sold in accordance with any applicable federal or state law; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g) at the option of the Fund by written notice to LIFE COMPANY, if the Fund shall determine in its sole judgment exercised in good faith, that LIFE COMPANY and/or its affiliated companies has suffered a material adverse change in its business, operations, financial condition or prospects since the date of this Agreement or is the subject of material adverse publicity; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h) at the option of LIFE COMPANY by written notice to the Fund, if LIFE COMPANY shall determine in its sole judgment exercised in good faith, that the Fund and/or its affiliated companies has suffered a material adverse change in its business, operations, financial condition or prospects since the date of this Agreement or is the subject of material adverse publicity; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) at the option of either party upon a determination by a majority of the Fund's Board of Directors, or a majority of the Fund's disinterested directors, that an irreconcilable material conflict exists among the interests of: (1) all contract owners of variable insurance products of all separate accounts; or (2) the interests of the Participating Insurance Companies investing in the Fund; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(j) upon another party's material breach of any provision of this Agreement; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(k) at the option of the Fund if it suspends or terminates the offering of Shares of the applicable Portfolio to all Participating Insurance Companies or only designated Participating Insurance Companies, if such action is required by law or by regulatory authorities having jurisdiction or if, in the sole discretion of the Fund acting in good faith, suspension or termination is necessary in the best interests of the shareholders of the applicable Portfolio (it being understood that "shareholders" for this purpose shall mean Participants), such notice effective immediately upon receipt of written notice, it being understood that a lack Participating Insurance Companies interest in the applicable Portfolio may be grounds for a suspension or termination as to such Portfolio.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**6.2 <u>Notice Requirement for Termination</u>.**

No termination of this Agreement will be effective unless and until the party terminating this Agreement gives prior written notice to the other party to this Agreement of its intent to terminate, and such notice shall set forth the basis for such termination. Furthermore:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) in the event that any termination is based upon the provisions of Section 6.1(a) hereof, such prior written notice shall be given at least six {6) months in advance of the effective date of termination unless a shorter time is agreed to by the Parties hereto;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) in the event that any termination is based upon the provisions of Section 6.1(b), 6.1(c), 6.1(g) or 6.1(h) hereof, such prior written notice shall be given at least thirty (30) days in advance of the effective date of termination unless a shorter time is agreed to by the Parties hereto; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) in the event that any termination is based upon the provisions of Section 6.1(d), 6.1(e), 6.1(f), 6.1(j) or 6.1(k) hereof, such prior written notice shall be given at least fifteen (15) days in advance of the effective date unless a shorter time is agreed to by the parties.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**6.3 <u>Fund To Remain Available</u>.**

Notwithstanding any termination of this Agreement, the Fund will, if mutually agreed to by the Fund and LIFE COMPANY, continue to make available additional shares of a Portfolio pursuant to the terms and conditions of this Agreement, for all Contracts in effect on the effective date of termination of this Agreement (hereinafter referred to as "Existing Contracts"). Specifically, without limitation, the owners of the Existing Contracts will be permitted to reallocate investments in Portfolios of the Fund (as in effect on such date), redeem investments in Portfolios of the Fund and/or invest in Portfolios of the Fund upon the making of additional purchase payments under the Existing Contracts. The parties agree that this Section 6.3 will not apply to any terminations under the conditions of the Order and the effect of such terminations will be governed by the Order.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**6.4 <u>Survival of Warranties and Indemnifications</u>.**

All warranties and indemnifications will survive the termination of this Agreement.

**<u>Section 7. Parties To Cooperate Respecting Termination</u>**

The Parties hereto agree to cooperate and give reasonable assistance to one another in taking all necessary and appropriate steps for the purpose of ensuring that an Account owns no Shares of the applicable Portfolio after the Final Termination Date with respect thereto, or, in the case of a termination pursuant to Section 6.1(a), the termination date specified in the notice of termination. Such steps may include combining the affected Account with another Account, substituting other mutual fund shares for those of the affected Portfolio, or otherwise terminating participation by the Contracts in such Portfolio.

**<u>Section 8. Assignment</u>**

This Agreement may not be assigned by any party, except with the prior written consent of all the Parties.

**<u>Section 9. Notices</u>**

Notices and communications required or permitted by Section 9 hereof will be given by means mutually acceptable to the Parties concerned. Each other notice or communication required or permitted by this Agreement will be given to the following persons at the following addresses and facsimile numbers, or such other persons, addresses or facsimile numbers as the party receiving such notices or communications may subsequently direct in writing:

The Ohio National Life Insurance Company

1 Financial Way

Cincinnati, OH 45242

Facsimile: (513) 794-4519

Attn.: John J. Palmer

Salomon Brothers Variable Series Inc.

7 World Trade Center

New York, NY 10048

Facsimile: (212) 783-3357

Attn.: Mitch Schulman

**<u>Section 10. Voting Procedures</u>**

Subject to the cost allocation procedures set forth in Section 3 hereof, LIFE COMPANY will distribute all proxy material furnished by the Fund to Participants to wham pass-through voting privileges are required to be extended and will solicit voting instructions from Participants. LIFE COMPANY will vote Shares in accordance with timely instructions received from Participants. LIFE COMPANY will vote Shares that are (a) not attributable to Participants to wham pass-through voting privileges are extended, or (b) attributable to Participants, but for which no timely instructions have been received, in the same proportion as Shares for which said instructions have been received from Participants, so long as and to the extent that the SEC continues to interpret the 1940 Act to require pass through voting privileges for Participants. Neither LIFE COMPANY nor any of its affiliates will in any way recommend action in connection with or oppose or interfere with the solicitation of proxies for the Shares held for such Participants. LIFE COMPANY reserves the right to vote shares held in any Account in its own right, to the extent permitted by law. LIFE COMPANY shall be responsible for assuring that each of its Accounts holding Shares calculates voting privileges in a manner consistent with that of other Participating Insurance Companies or in the manner required by the Order obtained by the Fund. The Fund will notify LIFE COMPANY of any amendments to the Order it has obtained.

**<u>Section 11. Foreign Tax Credits</u>**

The Fund agrees to consult in advance with LIFE COMPANY concerning any decision to elect or not to elect pursuant to Section 853 of the Code to pass through the benefit of any foreign tax credits to its shareholders.

**<u>Section 12. Indemnification</u>**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**12.1 <u>Of the Fund by LIFE COMPANY</u>.**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Except to the extent provided in Sections 12.1(b) and 12.1(c), below, LIFE COMPANY agrees to indemnify and hold harmless the Fund, its affiliates, and each person, if any, who controls the Fund or its affiliates within the meaning of Section 15 of the 1933 Act and each of their respective directors and officers (collectively, the "Indemnified Parties" for purposes of this Section 12.1) against any and all losses, claims, damages, liabilities (including amounts paid in settlement with the written consent of LIFE COMPANY) or actions in respect thereof (including, to the extent reasonable, legal and other expenses), to which the Indemnified Parties may become subject under any statute, regulation, at common law or otherwise insofar as such losses, claims, damages, liabilities or actions:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) arise out of or are based upon any untrue statement or alleged untrue statement of any material fact contained in any Account's 1933
Act registration statement, any Account Prospectus, the Contracts, or sales literature or advertising for the Contracts (or any amendment
or supplement to any of the foregoing), or arise out of or are based upon the omission or the alleged omission to state therein a material
fact required to be stated therein or necessary to make the statements therein not misleading; *provided,* that this agreement to
indemnify shall not apply as to any Indemnified Party if such statement or omission or such alleged statement or omission was made in
reliance upon and in conformity with written information furnished to LIFE COMPANY by or on behalf of the Fund for use in any Account's
1933 Act registration statement, any Account Prospectus, the Contracts, or sales literature or advertising (or any amendment or supplement
to any of the foregoing); or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) arise out of or as a result of any other statements or representations (other than statements or representations contained in the
Fund's 1933 Act registration statement, the Fund Prospectus, sales literature or advertising of the Fund, or any amendment or supplement
to any of the foregoing, not supplied for use therein by or on behalf of LIFE COMPANY, or its affiliates and on which such persons have
reasonably relied) or the negligent, illegal or fraudulent conduct of LIFE COMPANY, or its respective affiliates or persons under their
control (including, without limitation, their employees and "Associated Persons," as that term is defined in paragraph (m)
of Article I of the NASD's By-Laws) or subject to its authorization, including without limitation, broker-dealers or agents authorized
to sell the Contracts, in connection with the sale, marketing or distribution of the Contracts or Shares; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) arise out of or are based upon any untrue statement or alleged untrue statement of any material fact contained in the Fund's 1933
Act registration statement, the Fund Prospectus, sales literature or advertising of the Fund, or any amendment or supplement to any of
the foregoing, or the omission or alleged omission to state therein a material fact required to be stated therein or necessary to make
the statements therein not misleading if such a statement or omission was made in reliance upon and in conformity with information furnished
to the Fund or its affiliates by or on behalf of LIFE COMPANY or its affiliates for use in the Fund's 1933 Act registration statement,
the Fund Prospectus, sales literature or advertising of the Fund, or any amendment or supplement to any of the foregoing; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iv) arise as a result of any failure by LIFE COMPANY or persons under its control (or subject to its authorization) to perform the obligations,
provide the services and furnish the materials required under the terms of this Agreement, or any material breach of any representation
and/or warranty made by LIFE COMPANY in this Agreement or arise out of or result from any other material breach of this Agreement by LIFE
COMPANY or persons under its control (or subject to its authorization); or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(v) arise as a result of failure to transmit a request for purchase or redemption of Shares or payment therefor on a timely basis in accordance
with the procedures set forth in this Agreement or any unauthorized use of the trade names of the Fund.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) This indemnification is in addition to any liability that LIFE COMPANY may otherwise have. LIFE COMPANY shall not be liable under this Section 12.1 with respect to any losses, claims, damages, liabilities or actions to which an Indemnified Party would otherwise be subject by reason of willful misfeasance, bad faith, or gross negligence in the performance by that Indemnified Party of its duties or by reason of that Indemnified Party's reckless disregard of obligations or duties (i) under this Agreement, or {ii) to the Fund.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) LIFE COMPANY shall not be liable under this Section 12.1 with respect to any action against an Indemnified Party unless the Fund shall have notified LIFE COMPANY in writing within a reasonable time after the summons or other first legal process giving information of the nature of the action shall have been served upon such Indemnified Party (or after such Indemnified Party shall have received notice of such service on any designated agent), but LIFE COMPANY shall be relieved of liability under this Section 12.1 only to the extent the indemnifying party is damaged solely by reason of such party's failure to so notify and failure to notify LIFE COMPANY of any such action shall not relieve LIFE COMPANY from any liability which they may have to the Indemnified Party against whom such action is brought otherwise than on account of this Section 12.1. Except as otherwise provided herein, in case any such action is brought against an Indemnified Party, LIFE COMPANY shall be entitled to participate, at its own expense, in the defense of such action and also shall be entitled to assume the defense thereof, with counsel approved by the Indemnified Party named in the action, which approval shall not be unreasonably withheld. After notice from LIFE COMPANY to such Indemnified Party of LIFE COMPANY's election to assume the defense thereof, the Indemnified Party will cooperate fully with LIFE COMPANY and shall bear the fees and expenses of any additional counsel retained by it, and neither LIFE COMPANY will be liable to such Indemnified Party under this Agreement for any legal or other expenses subsequently incurred by such Indemnified Party independently in connection with the defense thereof, other than reasonable costs of investigation.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**12.2 <u>Of LIFE COMPANY by the Fund</u>.**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Except to the extent provided in Sections 12.2(b), 12.2(c) and 12.2(d), below, the Fund agrees to indemnify and hold harmless LIFE COMPANY, its affiliates, and each person, if any, who controls LIFE COMPANY or its affiliates within the meaning of Section 15 of the 1933 Act and each of their respective directors and officers (collectively, the "Indemnified Parties" for purposes of this Section 12.2) against any and all losses, claims, damages, liabilities (including amounts paid in settlement with the written consent of the Fund) or actions in respect thereof (including, to the extent reasonable, legal and other expenses), to which the Indemnified Parties may become subject under any statute, regulation, at common law, or otherwise; insofar as such losses, claims, damages, liabilities or actions:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) arise out of or are based upon any untrue statement or alleged untrue statement of any material fact contained in the Fund's 1933
Act registration statement, Prospectus or sales literature or advertising of the Fund (or any amendment or supplement to any of the foregoing),
or arise out of or are based upon the omission or the alleged omission to state therein a material fact required to be stated therein
or necessary to make the statements therein not misleading; *provided,* that this agreement to indemnify shall not apply to any Indemnified
Party if such statement or omission or such alleged statement or omission was made in reliance upon and in conformity with written information
furnished to the Fund or its affiliates by or on behalf of LIFE COMPANY or its affiliates for use in the Fund's 1933 Act registration
statement, the Fund Prospectus, or in sales literature or advertising or otherwise for use in connection with the sale of Contracts or
Shares (or any amendment or supplement to any of the foregoing): or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) arise out of or as a result of any other statements or representations (other than statements or representations contained in any
Account's 1933 Act registration statement, any Account Prospectus, sales literature or advertising for the Contracts, or any amendment
or supplement to any of the foregoing, not supplied for use therein by or on behalf of the Fund or its affiliates and on which such persons
have reasonably relied) or the negligent, illegal or fraudulent conduct of the Fund or its affiliates or persons under its control {including,
without limitation, their employees and "Associated Persons" as that Term is defined in Section (n) of Article 1 of the NASD
BY-Laws), in connection with the sale, marketing or distribution of Fund Shares; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) arise out of or are based upon any untrue statement or alleged untrue statement of any material fact contained in any Account's 1933
Act registration statement, any Account Prospectus, sales literature or advertising covering the Contracts, or any amendment or supplement
to any of the foregoing, or the omission or alleged omission to state therein a material fact required to be stated therein or necessary
to make the statements therein not misleading, if such statement or omission was made in reliance upon and in conformity with written
information furnished to LIFE COMPANY, or its affiliates by or on behalf of the Fund for use in any Account's 1933 Act registration statement,
any Account Prospectus, sales literature or advertising covering the Contracts, or any amendment or supplement to any of the foregoing;
or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iv) arise as a result of any failure by the Fund to perform the obligations, provide the services and furnish the materials required of
it under the ter.ms of this Agreement or any material breach of any representation and/or warranty made by the Fund in this Agreement
or arise out of or result from any other material breach of this Agreement by the Fund.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) This indemnification is in addition to any liability that the Fund may otherwise have. The Fund shall not be liable under this Section 12.2 with respect to any losses, claims, damages, liabilities or actions to which an Indemnified Party would otherwise be subject by reason of willful misfeasance, bad faith, or gross negligence in the performance by that Indemnified Party of its duties or by reason of such Indemnified Party's reckless disregard of its obligations and duties (i) under this Agreement, or (ii) to LIFE COMPANY, each Account or Participants.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) The Fund shall not be liable under this Section 12.2 with respect to any action against an Indemnified Party unless the Indemnified Party shall have notified the Fund in writing within a reasonable time after the summons or other first legal process giving information of the nature of the action shall have been served upon such Indemnified Party (or after such Indemnified Party shall have received notice of such service on any designated agent), but the Fund shall be relieved of liability under this Section 12.2 only to the extent the indemnifying party is damaged solely by reason of such party's failure to so notify and failure to notify the Fund of any such action shall not relieve the Fund from any liability which it may have to the Indemnified Party against whom such action is brought otherwise than on account of this Section 12.2. Except as otherwise provided herein, in case any such action is brought against an Indemnified Party, the Fund will be entitled to participate, at its own expense, in the defense of such action and also shall be entitled to assume the defense thereof (which shall include, without limitation, the conduct of any ruling request and closing agreement or other settlement proceeding with the IRS), with counsel approved by the Indemnified Party named in the action, which approval shall not be unreasonably withheld. After notice from the Fund to such Indemnified Party of the Fund's election to assume the defense thereof, the Indemnified Party will cooperate fully with the Fund and shall bear the fees and expenses of any additional counsel retained by it, and the Fund will not be liable to such Indemnified Party under this Agreement for any legal or other expenses subsequently incurred by such Indemnified Party independently in connection with the defense thereof, other than reasonable costs of investigation.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) In no event shall the Fund be liable under the indemnification provisions contained in this Agreement to any individual or entity, including, without limitation, LIFE COMPANY or any other Participating Insurance Company or any Participant, with respect to any losses, claims, damages, liabilities or expenses that arise out of or result from (i) a breach of any representation, warranty, and/or covenant made by LIFE COMPANY hereunder or by any Participating Insurance Company under an agreement containing substantially similar representations, warranties and covenants; (ii) the failure by LIFE COMPANY or any Participating Insurance Company to maintain its segregated asset account (which invests in any Portfolio) as a legally and validly established segregated asset account under applicable state law and as a duly registered unit investment trust under the provisions of the 1940 Act (unless exempt therefrom); or (iii) the failure by LIFE COMPANY or any Participating Insurance Company to maintain its variable annuity or life insurance contracts (with respect to which any Portfolio serves as an underlying funding vehicle) as annuity contracts or life insurance contracts under applicable provisions of the Code.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**12.3 <u>Effect of Notice</u>.**

Any notice given by the indemnifying party to an Indemnified Party referred to in Sections 12.1(c) or 12.2(c) above of participation in or control of any action by the indemnifying party will in no event be deemed to be an admission by the indemnifying party of liability, culpability or responsibility, and the indemnifying party will remain free to contest liability with respect to the claim among the Parties or otherwise.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**12.4 <u>Successors</u>.**

A successor by law of any party shall be entitled to the benefits of the indemnification contained in this Section 12.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**12.5 <u>Obligations of the Fund</u>.**

All persons dealing with the Fund must look solely to the property of the applicable Portfolio for the enforcement of any claims against the Fund as neither the Board, Officers, agents or shareholders assume any personal liability for obligations entered into on behalf of the Fund.

**<u>Section 13. Applicable Law</u>**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) This Agreement will be construed and the provisions hereof interpreted under and in accordance with New York law, without regard for that state's principles of conflict of laws.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) This Agreement shall be subject to the provisions of the 1933 Act, 1934 and 1940 acts, and the rules and regulations and rulings thereunder, including such exemptions from those statutes, rules and regulations as the SEC may grant (including, but not limited to, the Order) and the terms hereof shall be interpreted and construed in accordance therewith.

**<u>Section 14. Execution in Counterparts</u>**

This Agreement may be executed simultaneously in two or more counterparts, each of which taken together will constitute one and the same instrument.

**<u>Section 15. Severability</u>**

If any provision of this Agreement is held or made invalid by a court decision, statute, rule or otherwise, the remainder of this Agreement will not be affected thereby.

**<u>Section 16. Rights Cumulative</u>**

The rights, remedies and obligations contained in this Agreement are cumulative and are in addition to any and all rights, remedies and obligations, at law or in equity, that the Parties are entitled to under federal and state laws.

**<u>Section 17. Headings</u>**

The **Table of Contents** and headings used in this Agreement are for purposes of reference only and shall not limit or define the meaning of the provisions of this Agreement.

**<u>Section 18. Confidentiality</u>**

Subject to the requirements of legal process and regulatory authority, each party hereto shall treat as confidential the names and addresses of customers of the other party and all information reasonably identified as confidential in writing by any other party hereto and, except as permitted by this Agreement, shall not, without the express written consent of the affected party, disclose, disseminate or utilize such names and addresses and other confidential information until such time as it may come into the public domain.

**<u>Section 19. Trademarks and Fund Names</u>**

Salomon Brothers Asset Management Inc, the adviser to the Fund and its affiliates, own all right, title and interest in and to the names, trademarks and service marks "Salomon" and "Salomon Brothers" and such other tradenames, trademarks and service marks as may be identified to LIFE COMPANY from time to time, (the "Salomon licensed marks"). Upon termination of this Agreement LIFE COMPANY and its affiliates shall cease to use the Salomon licensed marks.

**<u>Section 20. Parties to Cooperate</u>**

Each party to this Agreement will cooperate with each other party and. all appropriate governmental authorities (including, without limitation, the SEC, the NASD and state insurance regulators) and will permit each other and such authorities reasonable access to its books and records (including copies thereof) in connection with any investigation or inquiry relating to this Agreement or the transactions contemplated hereby.

IN WITNESS WHEREOF, the Parties have caused this Agreement to be executed in their names and on their behalf by and through their duly authorized officers signing below.

---

| | | | |
|:---|:---|:---|:---|
|  |  | SALOMON BROTHERS VARIABLE SERIES FUNDS INC | SALOMON BROTHERS VARIABLE SERIES FUNDS INC |
| Attest: | /s/ Neil B. Daugherty | By: | /s/ Hath B. Melealon |
| Name: | Neil B. Daugherty | Name: | Hath B. Melealon |
| Title: | Secretary | Title: | Chairman and President |

---

---

| | | | |
|:---|:---|:---|:---|
|  |  | THE OHIO NATIONAL LIFE INSURANCE COMPANY, on behalf of itself and its separate | THE OHIO NATIONAL LIFE INSURANCE COMPANY, on behalf of itself and its separate |
| By: | /s/ Ronald L. Benedict | By: | /s/ John J. Palmer |
| Name: | Ronald L. Benedict | Name: | John J. Palmer |
| Title: | Secretary | Title: | SR. Vice President |

---

SCHEDULE A

<u>PORTFOLIOS AVAILABLE UNDER THE CONTRACTS</u>

Salomon Brothers Variable Investors Fund

Salomon Brothers Variable Capital Fund

Salomon Brothers Variable Total Return Fund

<u>SEPARATE ACCOUNTS UTILIZING THE FUNDS</u>

Ohio National Variable Account A

<u>CONTRACTS FQNDED BY THE SEPARATE ACCOUNTS</u>

ONcore Flex

ONcore Premier

ONcore Value

## Exhibit 99.30

**PARTICIPATION AGREEMENT**

**AMONG**

**MFS VARIABLE INSURANCE TRUST, THE OHIO NATIONAL LIFE INSURANCE COMPANY**

**AND**

**MASSACHUSETTS FINANCIAL SERVICES COMPANY**

THIS AGREEMENT, made and entered into this 1st day of November 2001, by and among MFS VARIABLE INSURANCE TRUST, a Massachusetts business trust (the "Trust"), The Ohio National Life Insurance Company, an Ohio corporation (the "Company") on its own behalf and on behalf of each of the segregated asset accounts of the Company set forth in Schedule A hereto, as may be amended from time to time (the "Accounts"), and MASSACHUSETTS FINANCIAL SERVICES COMPANY, a Delaware corporation ("MFS").

WHEREAS, the Trust is registered as an open-end management investment company under the Investment Company Act of 1940, as amended (the "1940 Act"), and its shares are registered or will be registered under the Securities Act of 1933, as amended (the "1933 Act");

WHEREAS, shares of beneficial interest of the Trust are divided into several series of shares, each representing the interests in a particular managed pool of securities and other assets;

WHEREAS, certain series of shares of the Trust are divided into two separate share classes, an Initial Class and a Service Class, and the Trust on behalf of the Service Class has adopted a Rule 12b-l plan under the 1940 Act pursuant to which the Service Class pays a distribution fee;

WHEREAS, the series of shares of the Trust (each, a "Portfolio," and, collectively, the "Portfolios") and the classes of shares of those Portfolios (the "Shares") offered by the Trust to the Company and the Accounts are set forth on Schedule A attached hereto;

WHEREAS, MFS is duly registered as an investment adviser under the Investment Advisers Act of 1940, as amended, and any applicable state securities law, and is the Trust's investment adviser;

WHEREAS, the Company will issue certain variable annuity contracts (individually, the "Policy" or, collectively, the "Policies") which, if required by applicable law, will be registered under the 1933 Act;

WHEREAS, the Accounts are duly organized, validly existing segregated asset accounts, established by resolution of the Board of Directors of the Company, to set aside and invest assets attributable to the aforesaid variable annuity contracts that are allocated to the Accounts (the Policies and the Accounts covered by this Agreement, and each corresponding Portfolio covered by this Agreement in which the Accounts invest, is specified in Schedule A attached hereto as may be modified from time to time);

WHEREAS, the Company has registered or will register the Accounts as unit investment trusts under the 1940 Act (unless exempt therefrom);

WHEREAS, MFS Fund Distributors, Inc. (the "Underwriter") is registered as a broker-dealer with the Securities and Exchange Commission (the "SEC") under the Securities Exchange Act of 1934, as amended (hereinafter the "1934 Act"), and is a member in good standing of the National Association of Securities Dealers, Inc. (the "NASD");

WHEREAS, Ohio National Equities, Inc., the underwriter for the individual variable annuity and the variable life policies, is registered as a broker-dealer with the SEC under the 1934 Act and is a member in good standing of the NASD; and

WHEREAS, to the extent permitted by applicable insurance laws and regulations, the Company intends to purchase the Shares of the Portfolios as specified in Schedule A attached hereto on behalf of the Accounts to fund the Policies, and the Trust intends to sell such Shares to the Accounts at net asset value;

NOW, THEREFORE, in consideration of their mutual promises, the Trust, MFS, and the Company agree as follows:

**ARTICLE I. <u>SALE OF TRUST SHARES</u>**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.1. The Trust agrees to sell to the Company those Shares which the Accounts order (based on orders placed by Policy holders prior to the close of regular trading on the New York Stock Exchange, Inc. (the "NYSE") on that Business Day, as defined below) and which are available for purchase by such Accounts, executing such orders on a daily basis at the net asset value next computed after receipt by the Trust or its designee of the order for the Shares. For purposes of this Section 1.1, the Company shall be the designee of the Trust for receipt of such orders from Policy owners and receipt by such designee shall constitute receipt by the Trust; <u>provided</u> that the Trust receives notice of such orders by 9:30 a.m. New York time on the next following Business Day. "Business Day" shall mean any day on which the NYSE is open for trading and on which the Trust calculates its net asset value pursuant to the rules of the SEC.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.2. The Trust agrees to make the Shares available indefinitely for purchase at the applicable net asset value per share by the Company and the Accounts on those days on which the Trust calculates its net asset value pursuant to rules of the SEC and the Trust shall calculate such net asset value on each day which the NYSE is open for trading. Notwithstanding the foregoing, the Board of Trustees of the Trust (the "Board") may refuse to sell any Shares to the Company and the Accounts, or suspend or terminate the offering of the Shares if such action is required by law or by regulatory authorities having jurisdiction or is, in the sole discretion of the Board acting in good faith and in light of its fiduciary duties under federal and any applicable state laws, necessary in the best interest of the Shareholders of such Portfolio.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.3. The Trust and MFS agree that the Shares will be sold only to insurance companies which have entered into participation agreements with the Trust and MFS (the "Participating Insurance Companies") and their separate accounts, qualified pension and retirement plans and MFS or its affiliates. The Trust and MFS will not sell Trust shares to any insurance company or separate account unless an agreement containing provisions substantially the same as Articles III and VII of this Agreement is in effect to govern such sales. The Company will not resell the Shares except to the Trust or its agents.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.4. The Trust agrees to redeem for cash, on the Company's request, any full or fractional Shares held by the Accounts (based on orders placed by Policy owners prior to the close of regular trading on the NYSE on that Business Day), executing such requests on a daily basis at the net asset value next computed after receipt by the Trust or its designee of the request for redemption. For purposes of this Section 1.4, the Company shall be the designee of the Trust for receipt of requests for redemption from Policy owners and receipt by such designee shall constitute receipt by the Trust; provided that the Trust receives notice of such request for redemption by 9:30 a.m. New York time on the next following Business Day.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.5. Each purchase, redemption and exchange order placed by the Company shall be placed separately for each Portfolio and shall not be netted with respect to any Portfolio. However, with respect to payment of the purchase price by the Company and of redemption proceeds by the Trust, the Company and the Trust shall net purchase and redemption orders with respect to each Portfolio and shall transmit one net payment for all of the Portfolios in accordance with Section 1.6 hereof.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.6. In the event of net purchases, the Company shall pay for the Shares by 2:00 p.m. New York time on the next Business Day after an order to purchase the Shares is made in accordance with the provisions of Section I.I. hereof. In the event of net redemptions, the Trust shall pay the redemption proceeds by 2:00 p.m. New York time on the next Business Day after an order to redeem the shares is made in accordance with the provisions of Section 1.4. hereof. All such payments shall be in federal funds transmitted by wire.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.7. Issuance and transfer of the Shares will be by book entry only. Stock certificates will not be issued to the Company or the Accounts. The Shares ordered from the Trust will be recorded in an appropriate title for the Accounts or the appropriate subaccounts of the Accounts.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.8. The Trust shall furnish same day notice (by wire or telephone followed by written confirmation) to the Company of any dividends or capital gain distributions payable on the Shares. The Company hereby elects to receive all such dividends and distributions as are payable on a Portfolio's Shares in additional Shares of that Portfolio. The Trust shall notify the Company of the number of Shares so issued as payment of such dividends and distributions.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.9. The Trust or its custodian shall make the net asset value per share for each Portfolio available to the Company on each Business Day as soon as reasonably practical after the net asset value per share is calculated and shall use its best efforts to make such net asset value per share available by 6:30 p.m. New York time. In the event that the Trust is unable to meet the 6:30 p.m. time stated herein, it shall provide additional time for the Company to place orders for the purchase and redemption of Shares. Such additional time shall be equal to the additional time which the Trust takes to make the net asset value available to the Company. If the Trust provides materially incorrect share net asset value information, the Trust shall make an adjustment to the number of shares purchased or redeemed for the Accounts to reflect the correct net asset value per share. Any material error in the calculation or reporting of net asset value per share, dividend or capital gains information shall be reported promptly upon discovery to the Company.

**ARTICLE II. <u>CERTAIN REPRESENTATIONS, WARRANTIES AND COVENANTS</u>**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.1. The Company represents and warrants that the Policies are or will be registered under the 1933 Act or are exempt from or not subject to registration thereunder, and that the Policies will be issued, sold, and distributed in compliance in all material respects with all applicable state and federal laws, including without limitation the 1933 Act, the Securities Exchange Act of 1934, as amended (the "1934 Act"), and the 1940 Act. The Company further represents and warrants that it is an insurance company duly organized and in good standing under applicable law and that it has legally and validly established the Account as a segregated asset account under applicable law and has registered or, prior to any issuance or sale of the Policies, will register the Accounts as unit investment trusts in accordance with the provisions of the 1940 Act (unless exempt therefrom) to serve as segregated investment accounts for the Policies, and that it will maintain such registration for so long as any Policies are outstanding. The Company shall amend the registration statements under the 1933 Act for the Policies and the registration statements under the 1940 Act for the Accounts from time to time as required in order to effect the continuous offering of the Policies or as may otherwise be required by applicable law. The Company shall register and qualify the Policies for sales in accordance with the securities laws of the various states only if and to the extent deemed necessary by the Company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.2. The Company represents and warrants that the Policies are currently and at the time of issuance will be treated as life insurance, endowment or annuity contract under applicable provisions of the Internal Revenue Code of 1986, as amended (the ''Code"), that it will maintain such treatment and that it will notify the Trust or MFS immediately upon having a reasonable basis for believing that the Policies have ceased to be so treated or that they might not be so treated in the future.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.3. The Company represents and warrants that Ohio National Equities, Inc., the underwriter for the individual variable annuity and the variable life policies, is a member in good standing of the NASD and is a registered broker-dealer with the SEC. The Company represents and warrants that the Company and Ohio National Equities, Inc. will sell and distribute such policies in accordance in all material respects with all applicable state and federal securities laws, including without limitation the 1933 Act, the 1934 Act, and the 1940 Act.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.4. The Trust and MFS represent and warrant that the Shares sold pursuant to this Agreement shall be registered under the 1933 Act, duly authorized for issuance and sold in compliance with the laws of The Commonwealth of Massachusetts and all applicable federal and state securities laws and that the Trust is and shall remain registered under the 1940 Act. The Trust shall amend the registration statement for its Shares under the 1933 Act and the 1940 Act from time to time as required in order to effect the continuous offering of its Shares. The Trust shall register and qualify the Shares for sale in accordance with the laws of the various states only if and to the extent deemed necessary by the Trust.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.5. MFS represents and warrants that the Underwriter is a member in good standing of the NASD and is registered as a broker-dealer with the SEC. The Trust and MFS represent that the Trust and the Underwriter will sell and distribute the Shares in accordance in all material respects with all applicable state and federal securities laws, including without limitation the 1933 Act, the 1934 Act, and the 1940 Act.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.6. The Trust represents that it is lawfully organized and validly existing under the laws of The Commonwealth of Massachusetts and that it does and will comply in all material respects with the 1940 Act and any applicable regulations thereunder.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.7. MFS represents and warrants that it is and shall remain duly registered under all applicable federal securities laws and that it shall perform its obligations for the Trust in compliance in all material respects with any applicable federal securities laws and with the securities laws of The Commonwealth of Massachusetts. MFS represents and warrants that it is not subject to state securities laws other than the securities laws of The Commonwealth of Massachusetts and that it is exempt from registration as an investment adviser under the securities laws of The Commonwealth of Massachusetts.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.8. No less frequently than annually, the Company shall submit to the Board such reports, material or data as the Board may reasonably request so that it may carry out fully the obligations imposed upon it by the conditions contained in the exemptive application pursuant to which the SEC has granted exemptive relief to permit mixed and shared funding (the "Mixed and Shared Funding Exemptive Order").

**ARTICLE III. **<u>PROSPECTUS AND PROXY STATEMENTS; VOTING</u>**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.1. At least annually, the Trust or its designee shall provide the Company, free of charge, with as many copies of the current prospectus (describing only the Portfolios listed in Schedule A hereto) for the Shares as the Company may reasonably request for distribution to existing Policy owners whose Policies are funded by such Shares. The Trust or its designee shall provide the Company, at the Company's expense, with as many copies of the current prospectus for the Shares as the Company may reasonably request for distribution to prospective purchasers of Policies. If requested by the Company in lieu thereof, the Trust or its designee shall provide such documentation (including a "camera ready" copy of the new prospectus as set in type or, at the request of the Company, as a diskette in the form sent to the financial printer) and other assistance as is reasonably necessary in order for the parties hereto once each year (or more frequently if the prospectus for the Shares is supplemented or amended) to have the prospectus for the Policies and the prospectus for the Shares printed together in one document; the expenses of such printing to be apportioned between (a) the Company and (b) the Trust or its designee in proportion to the number of pages of the Policy and Shares' prospectuses, taking account of other relevant factors affecting the expense of printing, such as covers, columns, graphs and charts; the Trust or its designee to bear the cost of printing the Shares'prospectus portion of such document for distribution to owners of existing Policies funded by the Shares and the Company to bear the expenses of printing the portion of such document relating to the Accounts; <u>provided</u>, however, that the Company shall bear all printing expenses of such combined documents where used for distribution to prospective purchasers or to owners of existing Policies not funded by the Shares. In the event that the Company requests that the Trust or its designee provides the Trust's prospectus in a "camera ready" or diskette format, the Trust shall be responsible for providing the prospectus in the format in which it or MFS is accustomed to formatting prospectuses and shall bear the expense of providing the prospectus in such format (<u>e.g.</u>, typesetting expenses), and the Company shall bear the expense of adjusting or changing the format to conform with any of its prospectuses.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.2. The prospectus for the Shares shall state that the statement of additional information for the Shares is available from the Trust or its designee. The Trust or its designee, at its expense, shall print and provide such statement of additional information to the Company (or a master of such statement suitable for duplication by the Company) for distribution to any owner of a Policy funded by the Shares. The Trust or its designee, at the Company's expense, shall print and provide such statement to the Company (or a master of such statement suitable for duplication by the Company) for distribution to a prospective purchaser who requests such statement or to an owner of a Policy not funded by the Shares.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.3. The Trust or its designee shall provide the Company free of charge copies, if and to the extent applicable to the Shares, of the Trust's proxy materials, reports to Shareholders and other communications to Shareholders in such quantity as the Company shall reasonably require for distribution to Policy owners.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.4. Notwithstanding the provisions of Sections 3.1, 3.2, and 3.3 above, or of Article V below, the Company shall pay the expense of printing or providing documents to the extent such cost is considered a distribution expense. Distribution expenses would include by way of illustration, but are not limited to, the printing of the Shares' prospectus or prospectuses for distribution to prospective purchasers or to owners of existing Policies not funded by such Shares.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.5. The Trust hereby notifies the Company that it may be appropriate to include in the prospectus pursuant to which a Policy is offered disclosure regarding the potential risks of mixed and shared funding.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.6. If and to the extent required by law, the Company shall:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) solicit voting instructions from Policy owners;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) vote the Shares in accordance with instructions
received from Policy owners; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) vote the Shares for which no instructions have
been received in the same proportion as the Shares of such Portfolio for which instructions have been received from Policy owners;

so long as and to the extent that the SEC continues to interpret the 1940 Act to require pass through voting privileges for variable contract owners. The Company will in no way recommend action in connection with or oppose or interfere with the solicitation of proxies for the Shares held for such Policy owners. The Company reserves the right to vote shares held in any segregated asset account in its own right, to the extent permitted by law. Participating Insurance Companies shall be responsible for assuring that each of their separate accounts holding Shares calculates voting privileges in the manner required by the Mixed and Shared Funding Exemptive Order. The Trust and MFS will notify the Company of any changes of interpretations or amendments to the Mixed and Shared Funding Exemptive Order.

**ARTICLE IV. **<u>SALES MATERIAL AND INFORMATION</u>**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.1. The Company shall furnish, or shall cause to be furnished, to the Trust or its designee, each piece of sales literature or other promotional material in which the Trust, MFS, any other investment adviser to the Trust, or any affiliate of MFS are named, at least three (3) Business Days prior to its use. No such material shall be used if the Trust, MFS, or their respective designees reasonably objects to such use within three (3) Business Days after receipt of such material.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.2. The Company shall not give any information or make any representations or statement on behalf of the Trust, MFS, any other investment adviser to the Trust, or any affiliate of MFS or concerning the Trust or any other such entity in connection with the sale of the Policies other than the information or representations contained in the registration statement, prospectus or statement of additional information for the Shares, as such registration statement, prospectus and statement of additional information may be amended or supplemented from time to time, or in reports or proxy statements for the Trust, or in sales literature or other promotional material approved by the Trust, MFS or their respective designees, except with the permission of the Trust, MFS or their respective designees. The Trust, MFS or their respective designees each agrees to respond to any request for approval on a prompt and timely basis. The Company shall adopt and implement procedures reasonably designed to ensure that information concerning the Trust, MFS or any of their affiliates which is intended for use only by brokers or agents selling the Policies <u>(i.e.</u>, information that is not intended for distribution to Policy owners or prospective Policy owners) is so used, and neither the Trust, MFS nor any of their affiliates shall be liable for any losses, damages or expenses relating to the improper use of such broker only materials.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.3. The Trust or its designee shall furnish, or shall cause to be furnished, to the Company or its designee, each piece of sales literature or other promotional material in which the Company and/or the Accounts is named, at least three (3) Business Days prior to its use. No such material shall be used if the Company or its designee reasonably objects to such use within three (3) Business Days after receipt of such material.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.4. The Trust and MFS shall not give, and agree that the Underwriter shall not give, any information or make any representations on behalf of the Company or concerning the Company, the Accounts, or the Policies in connection with the sale of the Policies other than the information or representations contained in a registration statement, prospectus, or statement of additional information for the Policies, as such registration statement, prospectus and statement of additional information may be amended or supplemented from time to time, or in reports for the Accounts, or in sales literature or other promotional material approved by the Company or its designee, except with the permission of the Company. The Company or its designee agrees to respond to any request for approval on a prompt and timely basis. The Trust and MFS may not alter any material so provided by the Company or its designee (including, without limitation, presenting or delivering such material in a different medium, e.g., electronic or internet) without the prior written consent of the Company. The parties hereto agree that this Section 4.4. is neither intended to designate nor otherwise imply that MFS is an underwriter or distributor of the Policies.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.5. The Company and the Trust (or its designee in lieu of the Company or the Trust, as appropriate) will each provide to the other at least one complete copy of all registration statements, prospectuses, statements of additional information, reports, proxy statements, sales literature and other promotional materials, applications for exemptions, requests for no-action letters, and all amendments to any of the above, that relate to the Policies, or to the Trust or its Shares, prior to or contemporaneously with the filing of such document with the SEC or other regulatory authorities. The Company and the Trust shall also each promptly inform the other of the results of any examination by the SEC (or other regulatory authorities) that relates to the Policies, the Trust or its Shares, and the party that was the subject of the examination shall provide the other party with a copy of relevant portions of any "deficiency letter" or other correspondence or written report regarding any such examination.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.6. No party shall use any other party's names, logos, trademarks or service marks, whether registered or unregistered, without the prior written consent of such other party, or after written consent therefor has been revoked, provided that separate consent is not required under this Section 4.6 to the extent that consent to use a party's name, logo, trademark or service mark in connection with a particular piece of advertising or sales literature has previously been giving by a party under Sections 4.2 and 4.4 of this Agreement. The Company shall not use in advertising, publicly or otherwise the name of the Trust, MFS or any of their affiliates nor any trade name, trademark, trade device, servicemark, symbol or any abbreviation, contraction or simulation thereof of the Trust, MFS, or their affiliates without the prior written consent of the Trust or MFS in each instance. The Trust and MFS shall not use in advertising, publicly or otherwise the name of the Company or any of its affiliates nor any trade name, trademark, trade device, servicemark, symbol or any abbreviation, contraction or simulation thereof of the Company or its affiliates without the prior written consent of the Company in each instance.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.7. The Trust and MFS will provide the Company with as much notice as is reasonably practicable of any proxy solicitation for any Portfolio, and of any material change in the Trust's registration statement, particularly any change resulting in change to the registration statement or prospectus or statement of additional information for any Account. The Trust and MFS will cooperate with the Company so as to enable the Company to solicit proxies from Policy owners or to make changes to its prospectus, statement of additional information or registration statement, in an orderly manner. The Trust and MFS will make reasonable efforts to attempt to have changes affecting Policy prospectuses become effective simultaneously with the annual updates for such prospectuses.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.8. For purpose of this Article IV and Article VID, the phrase "sales literature or other promotional material" includes but is not limited to advertisements (such as material published, or designed for use in, a newspaper, magazine, or other periodical, radio, television, telephone or tape recording, videotape display, signs or billboards, motion pictures, or other public media), and sales literature (such as brochures, circulars, reprints or excerpts or any other advertisement, sales literature, or published articles), distributed or made generally available to customers or the public, educational or training materials or communications distributed or made generally available to some or all agents or employees.

**ARTICLE V. **<u>FEES AND EXPENSES</u>**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.1. The Trust shall pay no fee or other compensation to the Company under this Agreement, and the Company shall pay no fee or other compensation to the Trust, except that, to the extent the Trust or any Portfolio has adopted and implemented a plan pursuant to Rule I2b-1 under the 1940 Act to finance distribution and for Shareholder servicing expenses, then the Trust may make payments to the Company or to the underwriter for the Policies in accordance with such plan. Each party, however, shall, in accordance with the allocation of expenses specified in Articles III and V hereof, reimburse other parties for expenses initially paid by one party but allocated to another party. In addition, nothing herein shall prevent the parties hereto from otherwise agreeing to perform, and arranging for appropriate compensation for, other services relating to the Trust and/or to the Accounts.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.2. The Trust or its designee shall bear the expenses for the cost of registration and qualification of the Shares under all applicable federal and state laws, including preparation and filing of the Trust's registration statement, and payment of filing fees and registration fees; preparation and filing of the Trust's proxy materials and reports to Shareholders; setting in type and printing its prospectus and statement of additional information (to the extent provided by and as determined in accordance with Article m above); setting in type and printing the proxy materials and reports to Shareholders (to the extent provided by and as determined in accordance with Article III above); the preparation of all statements and notices required of the Trust by any federal or state law with respect to its Shares; all taxes on the issuance or transfer of the Shares; and the costs of distributing the Trust's prospectuses and proxy materials to owners of Policies funded by the Shares and any expenses permitted to be paid or assumed by the Trust pursuant to a plan, if any, under Rule 12b-l under the 1940 Act. The Trust shall not bear any expenses of marketing the Policies.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.3. The Company shall bear the expenses of distributing the Shares' prospectus or prospectuses in connection with new sales of the Policies and of distributing the Trust's Shareholder reports to Policy owners. The Company shall bear all expenses associated with the registration, qualification, and filing of the Policies under applicable federal securities and state insurance laws; the cost of preparing, printing and distributing the Policy prospectus and statement of additional information; and the cost of preparing, printing and distributing annual individual account statements for Policy owners as required by state insurance laws.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.4. MFS will monthly reimburse the Company certain of the administrative costs and expenses incurred by the Company as a result of operations necessitated by the beneficial ownership by Policy owners of shares of the Portfolios of the Trust, equal to 0.25% per annum of the aggregate net assets of the Trust attributable to variable life or variable annuity contracts offered by the Company or its affiliates. In no event shall such fee be paid by the Trust, its shareholders or by the Policy holders.

**ARTICLE VI. **<u>DIVERSIFICATION AND RELATED LIMITATIONS</u>**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.1. The Trust and MFS represent and warrant that each Portfolio of the Trust will meet the diversification requirements of Section 817 (h) (1) of the Code and Treas. Reg. 1.817-5, relating to the diversification requirements for variable annuity, endowment, or life insurance contracts, as they may be amended from time to time (and any revenue rulings, revenue procedures, notices, and other published announcements of the Internal Revenue Service interpreting these sections), as if those requirements applied directly to each such Portfolio.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.2. The Trust and MFS represent that each Portfolio will elect to be qualified as a Regulated Investment Company under Subchapter M of the Code and that they will maintain such qualification (under Subchapter M or any successor or similar provision).

**ARTICLE VII. **<u>POTENTIAL MATERIAL CONFLICTS</u>**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.1. The Trust agrees that the Board, constituted with a majority of disinterested trustees, will monitor each Portfolio of the Trust for the existence of any material irreconcilable conflict between the interests of the variable annuity contract owners and the variable life insurance policy owners of the Company and/or affiliated companies ("contract owners") investing in the Trust. The Board shall have the sole authority to determine if a material irreconcilable conflict exists, and such determination shall be binding on the Company only if approved in the form of a resolution by a majority of the Board, or a majority of the disinterested trustees of the Board. The Board will give prompt notice of any such determination to the Company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.2. The Company agrees that it will be responsible for assisting the Board in carrying out its responsibilities under the conditions set forth in the Trust's exemptive application pursuant to which the SEC has granted the Mixed and Shared Funding Exemptive Order by providing the Board, as it may reasonably request, with all information necessary for the Board to consider any issues raised and agrees that it will be responsible for promptly reporting any potential or existing conflicts of which it is aware to the Board including, but not limited to, an obligation by the Company to inform the Board whenever contract owner voting instructions are disregarded. The Company also agrees that, if a material irreconcilable conflict arises, it will at its own cost remedy such conflict up to and including (a) withdrawing the assets allocable to some or all of the Accounts from the Trust or any Portfolio and reinvesting such assets in a different investment medium, including (but not limited to) another Portfolio of the Trust, or submitting to a vote of all affected contract owners whether to withdraw assets from the Trust or any Portfolio and reinvesting such assets in a different investment medium and, as appropriate, segregating the assets attributable to any appropriate group of contract owners that votes in favor of such segregation, or offering to any of the affected contract owners the option of segregating the assets attributable to their contracts or policies, and (b) establishing a new registered management investment company and segregating the assets underlying the Policies, unless a majority of Policy owners materially adversely affected by the conflict have voted to decline the offer to establish a new registered management investment company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.3. A majority of the disinterested trustees of the Board shall determine whether any proposed action by the Company adequately remedies any material irreconcilable conflict. In the event that the Board determines that any proposed action does not adequately remedy any material irreconcilable conflict, the Company will withdraw from investment in the Trust each of the Accounts designated by the disinterested trustees and terminate this Agreement within six (6) months after the Board informs the Company in writing of the foregoing determination; <u>provided</u>, <u>however</u>, that such withdrawal and termination shall be limited to the extent required to remedy any such material irreconcilable conflict as determined by a majority of the disinterested trustees of the Board.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.4. If and to the extent that Rule 6e-2 and Rule 6e-3(T) are amended, or Rule 6e-3 is adopted, to provide exemptive relief from any provision of the 1940 Act or the rules promulgated thereunder with respect to mixed or shared funding (as defined in the Mixed and Shared Funding Exemptive Order) on terms and conditions materially different from those contained in the Mixed and Shared Funding Exemptive Order, then (a) the Trust and/or the Participating Insurance Companies, as appropriate, shall take such steps as may be necessary to comply with Rule 6e-2 and 6e-3(T), as amended, and Rule 6e-3, as adopted, to the extent such rules are applicable; and (b) Sections 3.5, 3.6. 7.1, 7.2, 7.3 and 7.4 of this Agreement shall continue in effect only to the extent that terms and conditions substantially identical to such Sections are contained in such Rule(s) as so amended or adopted.

**ARTICLE VIII. <u>INDEMNIFICATION</u>**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.1. **<u>Indemnification by the Company</u>**

The Company agrees to indemnify and hold harmless the Trust, MFS, any affiliates of MFS, and each of their respective directors/trustees, officers and each person, if any, who controls the Trust or MFS within the meaning of Section 15 of the 1933 Act, and any agents or employees of the foregoing (each an "Indemnified Party," or collectively, the "Indemnified Parties" for purposes of this Section 8.1) against any and all losses, claims, damages, liabilities (including amounts paid in settlement with the written consent of the Company) or expenses (including reasonable counsel fees) to which any Indemnified Party may become subject under any statute, regulation, at common law or otherwise, insofar as such losses, claims, damages, liabilities or expenses (or actions in respect thereof) or settlements are related to the sale or acquisition of the Shares or the Policies and:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) arise out of or are based upon any untrue statement
or alleged untrue statement of any material fact contained in the registration statement, prospectus or statement of additional information
for the Policies or contained in the Policies or sales literature or other promotional material for the Policies (or any amendment or
supplement to any of the foregoing), or arise out of or are based upon the omission or the alleged omission to state therein a material
fact required to be stated therein or necessary to make the statements therein not misleading <u>provided</u> that this agreement to indemnify
shall not apply as to any Indemnified Party if such statement or omission or such alleged statement or omission was made in reasonable
reliance upon and in conformity with information furnished to the Company or its designee by or on behalf of the Trust or MFS for use
in the registration statement, prospectus or statement of additional information for the Policies or in the Policies or sales literature
or other promotional material (or any amendment or supplement) or otherwise for use in connection with the sale of the Policies or Shares;
or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) arise out of or as a result of statements or
representations (other than statements or representations contained in the registration statement, prospectus, statement of additional
information or sales literature or other promotional material of the Trust not supplied by the Company or its designee, or persons under
its control and on which the Company has reasonably relied) or wrongful conduct of the Company or persons under its control, with respect
to the sale or distribution of the Policies or Shares; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) arise out of any untrue statement or alleged
untrue statement of a material fact contained in the registration statement, prospectus, statement of additional information, or sales
literature or other promotional literature of the Trust, or any amendment thereof or supplement thereto, or the omission or alleged omission
to state therein a material fact required to be stated therein or necessary to make the statement or statements therein not misleading,
if such statement or omission was made in reliance upon information furnished to the Trust by or on behalf of the Company; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) arise out of or result from any material breach
of any representation and/or warranty made by the Company in this Agreement or arise out of or result from any other material breach of
this Agreement by the Company; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) arise as a result of any failure by the Company
to provide the services and furnish the materials under the terms of this Agreement;

as limited by and in accordance with the provisions of this Article VIII.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.2. **<u>Indemnification by the Trust</u>**

The Trust agrees to indemnify and hold harmless the Company and each of its directors and officers and each person, if any, who controls the Company within the meaning of Section 15 of the 1933 Act, and any agents or employees of the foregoing (each an "Indemnified Party," or collectively, the "Indemnified Parties" for purposes of this Section 8.2) against any and all losses, claims, damages, liabilities (including amounts paid in settlement with the written consent of the Trust) or expenses (including reasonable counsel fees) to which any Indemnified Party may become subject under any statute, at common law or otherwise, insofar as such losses, claims, damages, liabilities or expenses (or actions in respect thereof) or settlements are related to the sale or acquisition of the Shares or the Policies and:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) arise out of or are based upon any untrue statement
or alleged untrue statement of any material fact contained in the registration statement, prospectus, statement of additional information
or sales literature or other promotional material of the Trust (or any amendment or supplement to any of the foregoing), or arise out
of or are based upon the omission or the alleged omission to state therein a material fact required to be stated therein or necessary
to make the statement therein not misleading, <u>provided</u> that this agreement to indemnify shall not apply as to any Indemnified Party
if such statement or omission or such alleged statement or omission was made in reasonable reliance upon and in conformity with information
furnished to the Trust, MFS, the Underwriter or their respective designees by or on behalf of the Company for use in the registration
statement, prospectus or statement of additional information for the Trust or in sales literature or other promotional material for the
Trust (or any amendment or supplement) or otherwise for use in connection with the sale of the Policies or Shares; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) arise out of or as a result of statements or
representations (other than statements or representations contained in the registration statement, prospectus, statement of additional
information or sales literature or other promotional material for the Policies not supplied by the Trust, MFS, the Underwriter or any
of their respective designees or persons under their respective control and on which any such entity has reasonably relied) or wrongful
conduct of the Trust or persons under its control, with respect to the sale or distribution of the Policies or Shares; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) arise out of any untrue statement or alleged
untrue statement of a material fact contained in the registration statement, prospectus, statement of additional information, or sales
literature or other promotional literature of the Accounts or relating to the Policies, or any amendment thereof or supplement thereto,
or the omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statement
or statements therein not misleading, if such statement or omission was made in reliance upon information furnished to the Company by
or on behalf of the Trust, MFS or the Underwriter; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) arise out of or result from any material breach
of any representation and/or warranty made by the Trust in this Agreement (including a failure, whether unintentional or in good faith
or otherwise, to comply with the diversification requirements specified in Article VI of this Agreement) or arise out of or result from
any other material breach of this Agreement by the Trust; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) arise out of or result from the materially incorrect
or untimely calculation or reporting of the daily net asset value per share or dividend or capital gain distribution rate; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) arise as a result of any failure by the Trust
to provide the services and furnish the materials under the terms of the Agreement;

as limited by and in accordance with the provisions of this Article VIII.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.3. In no event shall the Trust be liable under the indemnification provisions contained in this Agreement to any individual or entity, including without limitation, the Company, or any Participating Insurance Company or any Policy holder, with respect to any losses, claims, damages, liabilities or expenses that arise out of or result from (i) a breach of any representation, warranty, and/or covenant made by the Company hereunder or by any Participating Insurance Company under an agreement containing substantially similar representations, warranties and covenants; (ii) the failure by the Company or any Participating Insurance Company to maintain its segregated asset account (which invests in any Portfolio) as a legally and validly established segregated asset account under applicable state law and as a duly registered unit investment trust under the provisions of the 1940 Act (unless exempt therefrom); or (iii) the failure by the Company or any Participating Insurance Company to maintain its variable annuity and/or variable life insurance contracts (with respect to which any Portfolio serves as an underlying funding vehicle) as life insurance, endowment or annuity contracts under applicable provisions of the Code.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.4. Neither the Company nor the Trust shall be liable under the indemnification provisions contained in this Agreement with respect to any losses, claims, damages, liabilities or expenses to which an Indemnified Party would otherwise be subject by reason of such Indemnified Party's willful misfeasance, willful misconduct, or gross negligence in the performance of such Indemnified Party's duties or by reason of such Indemnified Party's reckless disregard of obligations and duties under this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.5. Promptly after receipt by an Indemnified Party under this Section 8.5. of notice of commencement of any action, such Indemnified Party will, if a claim in respect thereof is to be made against the indemnifying party under this section, notify the indemnifying party of the commencement thereof; but the omission so to notify the indemnifying party will not relieve it from any liability which it may have to any Indemnified Party otherwise than under this section. In case any such action is brought against any Indemnified Party, and it notified the indemnifying party of the commencement thereof, the indemnifying party will be entitled to participate therein and, to the extent that it may wish, assume the defense thereof, with counsel satisfactory to such Indemnified Party. After notice from the indemnifying party of its intention to assume the defense of an action, the Indemnified Party shall bear the expenses of any additional counsel obtained by it, and the indemnifying party shall not be liable to such Indemnified Party under this section for any legal or other expenses subsequently incurred by such Indemnified Party in connection with the defense thereof other than reasonable costs of investigation.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.6. Each of the parties agrees promptly to notify the other parties of the commencement of any litigation or proceeding against it or any of its respective officers, directors, trustees, employees or 1933 Act control persons in connection with the Agreement, the issuance or sale of the Policies, the operation of the Accounts, or the sale or acquisition of Shares.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.7. A successor by law of the parties to this Agreement shall be entitled to the benefits of the indemnification contained in this Article VIII. The indemnification provisions contained in this Article VIII shall survive any termination of this Agreement.

**ARTICLE IX. **<u>APPLICABLE LAW</u>**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.1. This Agreement shall be construed and the provisions hereof interpreted under and in accordance with the laws of The Commonwealth of Massachusetts.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.2. This Agreement shall be subject to the provisions of the 1933, 1934 and 1940 Acts, and the rules and regulations and rulings thereunder, including such exemptions from those statutes, rules and regulations as the SEC may grant and the terms hereof shall be interpreted and construed in accordance therewith.

**ARTICLE X. **<u>NOTICE OF FORMAL PROCEEDINGS</u>**

The Trust, MFS, and the Company agree that each such party shall promptly notify the other parties to this Agreement, in writing, of the institution of any formal proceedings brought against such party or its designees by the NASD, the SEC, or any insurance department or any other regulatory body regarding such party's duties under this Agreement or related to the sale of the Policies, the operation of the Accounts, or the purchase of the Shares.

**ARTICLE XI. **<u>TERMINATION</u>**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11.1. This Agreement shall terminate with respect to the Accounts, or one, some, or all Portfolios:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) at the option of any party upon six (6) months'
advance written notice to the other parties; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) at the option of the Company to the extent that
the Shares of Portfolios are not reasonably available to meet the requirements of the Policies or are not "appropriate funding vehicles"
for the Policies, as reasonably determined by the Company. Without limiting the generality of the foregoing, the Shares of a Portfolio
would not be "appropriate funding vehicles" if, for example, such Shares did not meet the diversification or other requirements
referred to in Article VI hereof; or if the Company would be permitted to disregard Policy owner voting instructions pursuant to Rule
6e-2 or 6e-3(T) under the 1940 Act. Prompt notice of the election to terminate for such cause and an explanation of such cause shall be
furnished to the Trust by the Company; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) at the option of the Trust or MFS upon institution
of formal proceedings against the Company by the NASD, the SEC, or any insurance department or any other regulatory body regarding the
Company's duties under this Agreement or related to the sale of the Policies, the operation of the Accounts, or the purchase of
the Shares; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) at the option of the Company upon institution
of formal proceedings against the Trust by the NASD, the SEC, or any state securities or insurance department or any other regulatory
body regarding the Trust's or MFS' duties under this Agreement or related to the sale of the Shares; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) at the option of the Company, the Trust or MFS
upon receipt of any necessary regulatory approvals and/or the vote of the Policy owners having an interest in the Accounts (or any subaccounts)
to substitute the shares of another investment company for the corresponding Portfolio Shares in accordance with the terms of the Policies
for which those Portfolio Shares had been selected to serve as the underlying investment media. The Company will give thirty (30) days'
prior written notice to the Trust of the Date of any proposed vote or other action taken to replace the Shares; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) termination by either the Trust or MFS by written
notice to the Company, if either one or both of the Trust or MFS respectively, shall determine, in their sole judgment exercised in good
faith, that the Company has suffered a material adverse change in its business, operations, financial condition, or prospects since the
date of this Agreement or is the subject of material adverse publicity; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g) termination by the Company by written notice
to the Trust and MFS, if the Company shall determine, in its sole judgment exercised in good faith, that the Trust or MFS has suffered
a material adverse change in this business, operations, financial condition or prospects since the date of this Agreement or is the subject
of material adverse publicity; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h) at the option of any party to this Agreement,
upon another party's material breach of any provision of this Agreement; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) upon assignment of this Agreement, unless made
with the written consent of the parties hereto.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11.2. The notice shall specify the Portfolio or Portfolios, Policies and, if applicable, the Accounts as to which the Agreement is to be terminated.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11.3. It is understood and agreed that the right of any party hereto to terminate this Agreement pursuant to Section 11.1(a) may be exercised for cause or for no cause.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11.4. Except as necessary to implement Policy owner initiated transactions, or as required by state insurance laws or regulations, the Company shall not redeem the Shares attributable to the Policies (as opposed to the Shares attributable to the Company's assets held in the Accounts), and the Company shall not prevent Policy owners from allocating payments to a Portfolio that was otherwise available under the Policies, until thirty (30) days after the Company shall have notified the Trust of its intention to do so.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11.5. Notwithstanding any termination of this Agreement, the Trust and MFS shall, at the option of the Company, continue to make available additional shares of the Portfolios pursuant to the terms and conditions of this Agreement, for all Policies in effect on the effective date of termination of this Agreement (the "Existing Policies"), except as otherwise provided under Article VII of this Agreement. Specifically, without limitation, the owners of the Existing Policies shall be permitted to transfer or reallocate investment under the Policies, redeem investments in any Portfolio and/or invest in the Trust upon the making of additional purchase payments under the Existing Policies.

**ARTICLE XII. <u>NOTICES</u>**

Any notice shall be sufficiently given when sent by registered or certified mail, overnight courier or facsimile to the other party at the address of such party set forth below or at such other address as such party may from time to time specify in writing to the other party.

If to the Trust:

**MFS Variable Insurance Trust**

500 Boylston Street

Boston, Massachusetts 02116

Facsimile No.: (617) 954-6624

Attn: Stephen E. Cavan, Secretary

If to the Company:

**The Ohio National Life Insurance Company**

One Financial Way

Montgomery, Ohio 45242

Facsimile No.: (513)794-4645

Attn: John J. Palmer

If to MFS:

**Massachusetts Financial Services Company**

500 Boylston Street

Boston, Massachusetts 02116

Facsimile No.: (617) 954-6624

Attn: Stephen E. Cavan, General Counsel

**ARTICLE XIII. <u>MISCELLANEOUS</u>**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13.1. Subject to the requirement of legal process and regulatory authority, each party hereto shall treat as confidential the names and addresses of the owners of the Policies and all information reasonably identified as confidential in writing by any other party hereto and, except as permitted by this Agreement or as otherwise required by applicable law or regulation, shall not disclose, disseminate or utilize such names and addresses and other confidential information without the express written consent of the affected party until such time as it may come into the public domain.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13.2. The captions in this Agreement are included for convenience of reference only and in no way define or delineate any of the provisions hereof or otherwise affect their construction or effect.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13.3. This Agreement may be executed simultaneously in one or more counterparts, each of which taken together shall constitute one and the same instrument.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13.4. If any provision of this Agreement shall be held or made invalid by a court decision, statute, rule or otherwise, the remainder of the Agreement shall not be affected thereby.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13.5. The Schedule attached hereto, as modified from time to time, is incorporated herein by reference and is part of this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13.6. Each party hereto shall cooperate with each other party in connection with inquiries by appropriate governmental authorities (including without limitation the SEC, the NASD, and state insurance regulators) relating to this Agreement or the transactions contemplated hereby.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13.7. The rights, remedies and obligations contained in this Agreement are cumulative and are in addition to any and all rights, remedies and obligations, at law or in equity, which the parties hereto are entitled to under state and federal laws.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13.8. A copy of the Trust's Declaration of Trust is on file with the Secretary of State of The Commonwealth of Massachusetts. The Company acknowledges that the obligations of or arising out of this instrument are not binding upon any of the Trust's trustees, officers, employees, agents or shareholders individually, but are binding solely upon the assets and property of the Trust in accordance with its proportionate interest hereunder. The Company further acknowledges that the assets and liabilities of each Portfolio are separate and distinct and that the obligations of or arising out of this instrument are binding solely upon the assets or property of the Portfolio on whose behalf the Trust has executed this instrument. The Company also agrees that the obligations of each Portfolio hereunder shall be several and not joint, in accordance with its proportionate interest hereunder, and the Company agrees not to proceed against any Portfolio for the obligations of another Portfolio.

IN WITNESS WHEREOF, each of the parties hereto has caused this Agreement to be executed in its name and on its behalf by its duly authorized representative and its seal to be hereunder affixed hereto as of the date specified above.

---

| | |
|:---|:---|
| **THE OHIO NATIONAL LIFE INSURANCE COMPANY** | **THE OHIO NATIONAL LIFE INSURANCE COMPANY** |
| By its authorized officer, | By its authorized officer, |
| By: | /s/ John J. Palmer |
|  | John J. Palmer |
| Title: | Executive Vice President, Strategic Initiatives |
| **MFS VARIABLE INSURANCE TRUST,** | **MFS VARIABLE INSURANCE TRUST,** |
| **on behalf of the Portfolios** | **on behalf of the Portfolios** |
| By its authorized officer and not individually, | By its authorized officer and not individually, |
| By: | /s/ James R. Borde wick, Jr, |
|  | James R. Borde wick, Jr, |
|  | Assistant Secretary |
| **MASSACHUSETTS FINANCIAL SERVICES COMPANY** | **MASSACHUSETTS FINANCIAL SERVICES COMPANY** |
| By its authorized officer, | By its authorized officer, |
| By: | /s/ Arnold D. Scott |
|  | Arnold D. Scott |
|  | Senior Executive Vice President |

---

As of November 1, 2001

**SCHEDULE A**

**ACCOUNTS, POLICIES AND PORTFOLIOS** 

**<u>SUBJECT TO THE PARTICIPATION AGREEMENT</u>**

---

| | | | |
|:---|:---|:---|:---|
| **Name of Separate** <br> **Account and Date** <br> **Established by** <br> **Board of Directors** | **Policies Funded** <br> **by Separate Account** | **Share Class** <br> **(Initial or Service Class)** | **Portfolios**<br> **Applicable to Policies** |
| **Ohio National Variable** <br> **Account A**<br>**—Ohio National Variable**<br> **Account b**<br>**Ohio National Variable** <br> **Account C**<br>**Ohio National Variable** <br> **Account D** | **Variable Annuities**<br>**Variable Annuities**<br>**Variable Annuities**<br>**Variable Annuities** | **Service Class**<br>**Service Class**<br>**Service Class**<br>**Service Class** | **MFS Investors Growth Stock** <br>**MFS Mid Cap Growth** <br>**MFS New Discovery** <br>**MFS Total Return** |

---

## Exhibit 99.30

**PARTICIPATION AGREEMENT**

**Among**

**MORGAN STANLEY UNIVERSAL FUNDS, INC., MORGAN STANLEY ASSET MANAGEMENT INC.**

**MILLER ANDERSON & SHERRERD, LLP** 

**and**

**THE OHIO NATIONAL LIFE INSURANCE COMPANY** 

**DATED AS OF**

**MAY 1, 1998**

**<u>**TABLE OF CONTENTS**</u>**

---

| | | |
|:---|:---|:---|
| | | **Page** |
| **ARTICLE I** | **Purchase of Fund Shares** | **2** |
| **ARTICLE II** | **Representations and Warranties** | **4** |
| **ARTICLE III.** | **Prospectuses, Reports to Shareholders and Proxy Statements, Voting** | **6** |
| **ARTICLE IV** | **Sales Material and Information** | **8** |
| **ARTICLE V** | **Fees and Expenses** | **9** |
| **ARTICLE VI** | **Diversification** | **10** |
| **ARTICLE VIL** | **Potential Conflicts** | **10** |
| **ARTICLE VIII** | **Indemnification** | **12** |
| **ARTICLE IX** | **Applicable Law** | **18** |
| **ARTICLE X** | **Termination** | **18** |
| **ARTICLE XI** | **Notices** | **20** |
| **ARTICLE XII** | **Miscellaneous** | **21** |
| **SCHEDULE A** | **Separate Accounts and Contracts** | **A-l** |
| **SCHEDULE B** | **Portfolios of Morgan Stanley Universal Funds, Inc.** | **B-l** |
| **SCHEDULE C** | **Proxy Voting Procedures** | **C-l** |

---

THIS AGREEMENT, made and entered into as of the 1st day of May, 1998 by and among THE OHIO NATIONAL INSURANCE COMPANY (hereinafter the "Company"), an Ohio corporation, on its own behalf and on behalf of each separate account of the Company set forth on Schedule A hereto as may be amended from time to time (each such account hereinafter referred to as the "Account"), and MORGAN STANLEY UNIVERSAL FUNDS, INC. (hereinafter the "Fund"), a Maryland corporation, and MORGAN STANLEY ASSET MANAGEMENT INC. and MILLER ANDERSON & SHERRERD, LLP (hereinafter collectively the "Advisers" and individually the "Adviser"), a Delaware corporation and a Pennsylvania limited liability partnership, respectively.

WHEREAS, the Fund engages in business as an open-end management investment company and is available to act as (i) the investment vehicle for separate accounts established by insurance companies for individual and group life insurance policies and annuity contracts with variable accumulation and/ or pay-out provisions (hereinafter referred to individually and/or collectively as "Variable Insurance Products") and (ii) the investment vehicle for certain qualified pension and retirement plans (hereinafter "Qualified Plans"); and

WHEREAS, insurance companies desiring to utilize the Fund as an investment vehicle under their Variable Insurance Contracts enter into participation agreements with the Fund and the Advisers (the "Participating Insurance Companies");

WHEREAS, shares of the Fund are divided into several series of shares, each representing the interest in a particular managed portfolio of securities and other assets, any one or more of which may be made available under this Agreement, as may be amended from time to time by mutual agreement of the parties hereto (each such series hereinafter referred to as a "Portfolio"); and

WHEREAS, the Fund has obtained an order from the Securities and Exchange Commission, dated September 19, 1996 (File No. 812-10118), granting Participating Insurance Companies and Variable Insurance Product separate accounts exemptions from the provisions of Sections 9(a), 13(a), 15(a), and 15(b) of the Investment Company Act of 1940, as amended (hereinafter the "1940 Act"), and Rules 6e-2(b)(15) and 6e- 3(T)(b)(15) thereunder, to the extent necessary to permit shares of the Fund to be sold to and held by Variable Annuity Product separate accounts of both affiliated and unaffiliated life insurance companies and Qualified Plans (hereinafter the "Shared Funding Exemptive Order"); and

WHEREAS, the Fund is registered as an open-end management investment company under the 1940 Act and its shares are registered under the Securities Act of 1933, as amended (hereinafter the "1933 Act"); and

WHEREAS, each Adviser is duly registered as an investment adviser under the Investment Advisers Act of 1940, as amended, and any applicable state securities laws; and

WHEREAS, each Adviser manages certain Portfolios of the Fund; and

WHEREAS, Morgan Stanley & Co. Incorporated (the "Underwriter") is registered as a broker/dealer under the Securities Exchange Act of 1934, as amended (hereinafter the "1934 Act"), is a member in good standing of the National Association of Securities Dealers, Inc. (hereinafter "NASD") and serves as principal underwriter of the shares of the Fund; and

WHEREAS, the Company has registered or will register certain Variable Insurance Products under the 1933 Act; and

WHEREAS, each Account is a duly organized, validly existing segregated asset account, established by resolution or under authority of the Board of Directors of the Company, on the date shown for such Account on Schedule A hereto, to set aside and invest assets attributable to the aforesaid Variable Insurance Product; and

WHEREAS, the Company has registered or will register each Account as a unit investment trust under the 1940 Act; and

WHEREAS, to the extent permitted by applicable insurance laws and regulations, the Company intends to purchase, on behalf of each Account, shares in the Portfolios set forth in Schedule B attached to this Agreement, to fund certain of the aforesaid Variable Insurance Products and the Underwriter is authorized to sell such shares to each such Account at net asset value;

NOW, THEREFORE, in consideration of their mutual promises, the Company, the Fund and the Underwriter agree as follows:

**ARTICLE I. Purchase of Fund Shares**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.1. The Fund agrees to make available for purchase by the Company shares of the Fund and shall execute orders placed for each Account on a daily basis at the net asset value next computed after receipt by the Fund or its designee of such order. For purposes of this Section 1.1, the Company shall be the designee of the Fund for receipt of such orders from each Account and receipt by such designee shall constitute receipt by the Fund; provided that the Fund receives notice of such order by 10:00 a.m. Eastern time on the next following Business Day. "Business Day" shall mean any day on which the New York Stock Exchange is open for trading and on which the Fund calculates its net asset value pursuant to the rules of the Securities and Exchange Commission.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.2. The Fund, so long as this Agreement is in effect, agrees to make its shares available indefinitely for purchase at the applicable net asset value per share by the Company and its Accounts on those days on which the Fund calculates its net asset value pursuant to rules of the Securities and Exchange Commission and the Fund shall use reasonable efforts to calculate such net asset value on each day which the New York Stock Exchange is open for trading. Notwithstanding the foregoing, the Board of Directors of the Fund (hereinafter the ' Board") may refuse to permit the Fund to sell shares of any Portfolio to any person, or suspend or terminate the offering of shares of any Portfolio if such action is required by law or by regulatory authorities having jurisdiction or is, in the sole discretion of the Board acting in good faith and in light of their fiduciary duties under federal and any applicable state laws, necessary in the best interests of the shareholders of such Portfolio.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.3. The Fund agrees that shares of the Fund will be sold only to Participating Insurance Companies and their separate accounts and to certain Qualified Plans. No shares of any Portfolio will be sold to the general public.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.4. The Fund agrees to redeem for cash, on the Company's request, any full or fractional shares of the Fund held by the Company, executing such requests on a daily basis at the net asset value next computed after receipt by the Fund or its designee of the request for redemption. For purposes of this Section 1.4, the Company shall be the designee of the Fund for receipt of requests for redemption from each Account and receipt by such designee shall constitute receipt by the Fund, provided that the Fund receives notice of such request for redemption on the next following Business Day.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.5. The Company agrees that purchases and redemptions of Portfolio shares offered by the then current prospectus of the Fund shall be made in accordance with the provisions of such prospectus. The Variable Insurance Products issued by the Company, under which amounts may be invested in the Fund (hereinafter the "Contracts"), are listed on Schedule A attached hereto and incorporated herein by reference, as such Schedule A may be amended from time to time by mutual written agreement of all of the parties hereto. The Company will give the Fund and the Adviser written notice of its intention to make available in the future, as a funding vehicle under the Contracts, any other investment company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.6. The Company shall pay for Fund shares on the next Business Day after an order to purchase Fund shares is made in accordance with the provisions of Section 1.1 hereof. Payment shall be in federal funds transmitted by wire. For purposes of Section 2.10 and 2.11, upon receipt by the Fund of the federal funds so wired, such funds shall cease to be the responsibility of the Company and shall become the responsibility of the Fund.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.7. Issuance and transfer of the Fund's shares will be by book entry only. Stock certificates will not be issued to the Company or any Account. Shares ordered from the Fund will be recorded in an appropriate title for each Account or the appropriate subaccount of each Account.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.8. The Fund shall furnish same day notice (by wire or telephone, followed by written confirmation) to the Company of any income, dividends or capital gain distributions payable on the Fund's shares. The Company hereby elects to receive all such income dividends and capital gain distributions as are payable on the Portfolio shares in additional shares of that Portfolio. The Company reserves the right to revoke this election and to receive all such income dividends and capital gain distributions in cash. The Fund shall notify the Company of the number of shares so issued as payment of such dividends and distributions.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.9. The Fund shall make the net asset value per share for each Portfolio available to the Company on a daily basis as soon as reasonably practical after the net asset value per share is calculated (normally by 6:30 p.m. Eastern time) and shall use its best efforts to make such net asset value per share available by 7:00 p.m. Eastern time.

**ARTICLE II. Representations and Warranties**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.1. The Company represents and warrants that the Contracts are or will be registered under the 1933 Act; that the Contracts will be issued and sold in compliance in all material respects with all applicable federal and state laws and that the sale of the Contracts shall comply in all material respects with state insurance suitability requirements. The Company further represents and warrants that it is an insurance company duly organized and in good standing under applicable law and that it has legally and validly established each Account prior to any issuance or sale thereof as a segregated asset account under the insurance laws of Ohio and has registered or, prior to any issuance or sale of the Contracts, will register each Account as a unit investment trust in accordance with the provisions of the 1940 Act to serve as a segregated investment account for the Contracts.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.2. The Fund represents and warrants that Fund shares sold pursuant to this Agreement shall be registered under the 1933 Act, duly authorized for issuance and sold in compliance with the laws of the State of Maryland and all applicable federal and state securities laws and that the Fund is and shall remain registered under the 1940 Act. The Fund shall amend the registration statement for its shares under the 1933 Act and the 1940 Act from time to time as required in order to effect the continuous offering of its shares. The Fund shall register and qualify the shares for sale in accordance with the laws of the various states only if and to the extent deemed advisable by the Fund.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.3. The Fund represents that it is currently qualified as a Regulated Investment Company under Subchapter M of the Internal Revenue Code of 1986, as amended (the "Code"), and that it will make every effort to maintain such qualification (under Subchapter M or any successor or similar provision) and that it will notify the Company immediately upon having a reasonable basis for believing that it has ceased to so qualify or that it might not so qualify in the future.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.4. The Company represents that the Contracts are currently treated as life insurance policies or annuity contracts, under applicable provisions of the Code and that it will make every effort to maintain such treatment and that it will notify the Fund immediately upon having a reasonable basis for believing that the Contracts have ceased to be so treated or that they might not be so treated in the future.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.5. The Fund represents that to the extent that it decides to finance distribution expenses pursuant to Rule 12b-l under the 1940 Act, the Fund undertakes to have a board of directors, a majority of whom are not interested persons of the Fund, formulate and approve any plan under Rule 12b-l to finance distribution expenses.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.6. The Fund makes no representation as to whether any aspect of its operations (including, but not limited to, fees and expenses and investment policies) complies with the insurance laws or regulations of the various states except that the Fund represents that the Fund's investment policies, fees and expenses are and shall at all times remain in compliance with the laws of the State of Maryland and the Fund represents that their respective operations are and shall at all times remain in material compliance with the laws of the State of Maryland to the extent required to perform this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.7. The Fund represents that it is lawfully organized and validly existing under the laws of the State of Maryland and that it does and will comply in all material respects with the 1940 Act.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.8. Each Adviser represents and warrants that it is and shall remain duly registered in all material respects under all applicable federal and state securities laws and that it will perform its obligations for the Fund in compliance in all material respects with the laws of its state of domicile and any applicable state and federal securities laws.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.9. The Fund represents and warrants that its directors, officers, employees, and other individuals/entities dealing with the money and/or securities of the Fund are and shall continue to be at all times covered by a blanket fidelity bond or similar coverage for the benefit of the Fund in an amount not less than the minimal coverage as required currently by Rule 17g-(l) of the 1940 Act or related provisions as may be promulgated from time to time. The aforesaid blanket fidelity bond shall include coverage for larceny and embezzlement and shall be issued by a reputable bonding company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.10. The Company represents and warrants that all of its directors, officers, employees, investment advisers, and other individuals/entities dealing with the money and/or securities of the Fund are covered by a blanket fidelity bond or similar coverage, in an amount not less $5 million. The aforesaid includes coverage for larceny and embezzlement is issued by a reputable bonding company. The Company agrees to make all reasonable efforts to see that this bond or another bond containing these provisions is always in effect, and agrees to notify the Fund and the Underwriter in the event that such coverage no longer applies.

**ARTICLE III. Prospectuses, Reports to Shareholders and Proxy Statements; Voting**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.1. The Fund or its designee shall provide the Company with as many printed copies of the Fund's current prospectus and statement of additional information as the Company may reasonably request. If requested by the Company, in lieu of providing printed copies the Fund shall provide camera-ready film or computer diskettes containing the Fund's prospectus and statement of additional information, and such other assistance as is reasonably necessary in order for the Company once each year (or more frequently if the prospectus and/or statement of additional information for the Fund is amended during the year) to have the prospectus for the Contracts and the Fund's prospectus printed together in one document, and to have the statement of additional information for the Fund and the statement of additional information for the Contracts printed together in one document. Alternatively, the Company may print the Fund's prospectus and/or its statement of additional information in combination with other fund companies' prospectuses and statements of additional information.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.2. Except as provided in this Section 3.2., all expenses of preparing, setting in type, printing (and/or downloading to diskette) and distributing Fund prospectuses and statements of additional information shall be the expense of the Company. For prospectuses and statements of additional information provided by the Company to its existing owners of Contracts who currently own shares of one or more of the Fund's Portfolios, in order to update disclosure as required by the 1933 Act and/or the 1940 Act, the cost of printing shall be borne by the Fund. If the Company chooses to receive camera-ready film or computer diskettes in lieu of receiving printed copies of the Fund's prospectus, the Fund will reimburse the Company in an amount equal to the product of x and y where x is the number of such prospectuses distributed to owners of the Contracts who currently own shares of one or more of the Fund's Portfolios, and y is the Fund's per unit cost of typesetting and printing the Fund's prospectus. The same procedures shall be followed with respect to the Fund's statement of additional information. The Company agrees to provide the Fund or its designee with such information as may be reasonably requested by the Fund to assure that the Fund's expenses do not include the cost of printing, typesetting, and distributing any prospectuses or statements of additional information other than those actually distributed to existing owners of the Contracts.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.3. The Fund's statement of additional information shall be obtainable from the Fund, the Company or such other person as the Fund may designate, as agreed upon by the parties.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.4. The Fund, at its expense, shall provide the Company with copies of its proxy statements, reports to shareholders, and other communications (except for prospectuses and statements of additional information, which are covered in section 3.1) to shareholders in such quantity as the Company shall reasonably require for distributing to Contract owners.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.5. If and to the extent required by law the Company shall:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) solicit voting instructions from Contract owners;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) vote the Fund shares in accordance with instructions
received from Contract owners; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) vote Fund shares for which no instructions have been
received in the same proportion as Fund shares of such Portfolio for which instructions have been received,

so long as and to the extent that the Securities and Exchange Commission continues to interpret the 1940 Act to require pass-through voting privileges for variable contract owners. The Company reserves the right to vote Fund shares held in any segregated asset account in its own right, to the extent permitted by law. The Fund and the Company shall follow the procedures, and shall have the corresponding responsibilities, for the handling of proxy and voting instruction solicitations, as set forth in Schedule C attached hereto and incorporated herein by reference. Participating Insurance Companies shall be responsible for ensuring that each of their separate accounts participating in the Fund calculates voting privileges in a manner consistent with the standards set forth on Schedule C, which standards will also be provided to the other Participating Insurance Companies.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.6. The Fund will comply with all provisions of the 1940 Act requiring voting by shareholders, and in particular the Fund will either provide for annual meetings or comply with Section 16(c) of the 1940 Act (although the Fund is not one of the trusts described in Section 16(c) of that Act) as well as with Sections 16(a) and, if and when applicable, 16(b). Further, the Fund will act in accordance with the Securities and Exchange Commission's interpretation of the requirements of Section 16(a) with respect to periodic elections of directors and with whatever rules the Commission may promulgate with respect thereto.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.7. The Fund shall use reasonable efforts to provide Fund prospectuses, reports to shareholders, proxy materials and other Fund communications (or camera-ready equivalents) to the Company sufficiently in advance of the Company's mailing dates to enable the Company to complete, at reasonable cost, the printing, assembling and/or distribution of the communications in accordance with applicable laws and regulations.

**ARTICLE IV. Sales Material and Information**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.1. The Company shall furnish, or shall cause to be furnished, to the Fund or its designee, each piece of sales literature or other promotional material in which the Fund or the Adviser(s) is named, at least ten Business Days prior to its use. No such material shall be used if the Fund or its designee reasonably objects to such use within ten Business Days after receipt of such material.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.2. The Company shall not give any information or make any representations or statements on behalf of the Fund or concerning the Fund in connection with the sale of the Contracts other than the information or representations contained in the registration statement or prospectus for the Fund shares, as such registration statement and prospectus may be amended or supplemented from time to time, or in reports or proxy statements for the Fund, or in sales literature or other promotional material approved by the Fund or its designee, except with the permission of the Fund.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.3. The Fund or its designee shell furnish, or shall cause to be furnished, to the Company or its designee, each piece of sales literature or other promotional material in which the Company and/or its separate account(s) is named at least ten Business Days prior to its use. No such material shall be used if the Company or its designee reasonably objects to such use within ten Business Days after receipt of such material.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.4. The Fund and the Advisers shall not give any information or make any representations on behalf of the Company or concerning the Company, each Account, or the Contracts, other than the information or representations contained in a registration statement or prospectus for the Contracts, as such registration statement and prospectus may be amended or supplemented from time to time, or in published reports for each Account which are in the public domain or approved by the Company for distribution to Contract owners, or in sales literature or other promotional material approved by the Company or its designee, except with the permission of the Company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.5. The Fund will provide to the Company at least one complete copy of all registration statements, prospectuses, statements of additional information, reports, proxy statements, sales literature and other promotional materials, applications for exemptions, requests for no-action letters, and all amendments to any of the above, that relate to the Fund or its shares, which are relevant to the Company or the Contracts.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.6. The Company will provide to the Fund at least one complete copy of all registration statements, prospectuses, statements of additional information, reports, solicitations for voting instructions, sales literature and other promotional materials, applications for exemptions, requests for no action letters, and all amendments to any of the above, that relate to the investment in the Fund under the Contracts.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.7. For purposes of this Article IV, the phrase "sales literature or other promotional material" includes, but is not limited to, any of the following that refer to the Fund or any affiliate of the Fund: advertisements (such as material published, or designed for use in, a newspaper, magazine, or other periodical, radio, television, telephone or tape recording, videotape display, signs or billboards, motion pictures, or other public media), sales literature <u>(i.e.,</u> any written communication distributed or made generally available to customers or the public, including brochures, circulars, research reports, market letters, form hitters, seminar texts, reprints or excerpts of any other advertisement, sales literature, or published article), educational or training materials or other communications distributed or made generally available to some or all agents or employees, and registration statements, prospectuses, statements of additional information, shareholder reports, and proxy materials.

**ARTICLE V. Fees and Expenses**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.1. The Fund shall pay no fee or other compensation to the Company under this Agreement; except that if the Fund or any Portfolio adopts and implements a plan pursuant to Rule 12b-l to finance distribution expenses, then the Underwriter may make payments to the Company or to the underwriter for the Contracts if and in amounts agreed to by the Underwriter in writing.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.2. All expenses incident to performance by the Fund under this Agreement shall be paid by the Fund. The Fund shall see to it that all its shares are registered and authorized for issuance in accordance with applicable federal law and, if and to the extent deemed advisable by the Fund, in accordance with applicable state laws prior to their sale. Except as otherwise set forth in the Section 3.2 of this Agreement, the Fund shall bear the expenses for the cost of registration and qualification of the Fund's shares, filing of the Fund's prospectus and registration statement, proxy materials and reports, setting in type and printing the proxy materials and reports to shareholders (including the costs of printing a prospectus that constitutes an annual report), the preparation of all statements and notices required by any federal or state law, and all taxes on the issuance or transfer of the Fund's shares.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.3. The Company shall bear the expenses of distributing the Fund's prospectus, proxy materials and reports to owners of Contracts issued by the Company.

**ARTICLE VI. Diversification**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.1. The Fund will at all times invest money from the Contracts in such a manner as to ensure that the Contracts will be treated as variable contracts under the Code and the regulations issued thereunder. Without limiting the scope of the foregoing, the Fund will at all times comply with Section 817(h) of the Code and Treasury Regulation 1.817-5, relating to the diversification requirements for variable annuity, endowment, or life insurance contracts and any amendments or other modifications to such Section or Regulations. In the event of a breach of this Article VI by the Fund, it will take all reasonable steps (a) to notify Company of such breach and (b) to adequately diversify the Fund so as to achieve compliance within the grace period afforded by Regulation 817-5.

**ARTICLE VIL Potential Conflicts**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.1. The Board will monitor the Fund for the existence of any material irreconcilable conflict between the interests of the contract owners of all separate accounts investing in the Fund. An irreconcilable material conflict may arise for a variety of reasons, including: (a) an action by any state insurance regulatory authority, (b) a change in applicable federal or state insurance, tax, or securities laws or regulations, or a public ruling, private letter ruling, no-action or interpretative letter, or any similar action by insurance, tax, or securities regulatory authorities; (c) an administrative or judicial decision in any relevant proceeding; (d) the manner in which the investments of any Portfolio are being managed; (e) a difference in voting instructions given by Variable Insurance Product owners; or (f) a decision by a Participating Insurance Company to disregard the voting instructions of contract owners. The Board shall promptly inform the Company if it determines that an irreconcilable material conflict exists and the implications thereof.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.2. The Company will report any potential or existing conflicts of which it is aware to the Board. The Company will assist the Board in carrying out its responsibilities under the Shared Funding Exemptive Order, by providing the Board with all information reasonably necessary for the Board to consider any issues raised. This includes, but is not limited to, an obligation by the Company to inform the Board whenever contract owner voting instructions are disregarded.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.3. If it is determined by a majority of the Board, or a majority of its disinterested members, that a material irreconcilable conflict exists, the Company and other Participating Insurance Companies shall, at their expense and to the extent reasonably practicable (as determined by a majority of the disinterested directors), take whatever steps are necessary to remedy or eliminate the irreconcilable material conflict, up to and including; (1) withdrawing the assets allocable to some or all of the separate accounts from the Fund or any Portfolio and reinvesting such assets in a different investment medium, including (but not limited to) another Portfolio of the Fund, or submitting the question whether such segregation should be implemented to a vote of all affected Contract owners and, as appropriate, segregating the assets of any appropriate group <u>(i.e.,</u> annuity contract owners, life insurance policy owners, or variable contract owners of one or more Participating Insurance Companies) that votes in favor of such segregation, or offering to the affected contract owners the option of making such a change; and (2) establishing a new registered management investment company or managed separate account.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.4. If a material irreconcilable conflict arises because of a decision by the Company to disregard contract owner voting instructions and that decision represents a minority position or would preclude a majority vote, the Company may be required, at the Fund's election, to withdraw the affected Account's investment in the Fund and terminate this Agreement with respect to such Account (at the Company's expense); provided, however that such withdrawal and termination shall be limited to the extent required by the foregoing material irreconcilable conflict as determined by a majority of the disinterested members of the Board.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.5. If a material irreconcilable conflict arises because a particular state insurance regulator's decision applicable to the Company conflicts with the majority of other state regulators, then the Company will withdraw the affected Account's investment in the Fund and terminate this Agreement with respect to such Account within six months after the Board informs the Company in writing that it has determined that such decision has created an irreconcilable material conflict; provided, however, that such withdrawal and termination shall be limited to the extent required by the foregoing material irreconcilable conflict as determined by a majority of the disinterested members of the Board. Until the end of the foregoing six month period, the Underwriter and Fund shall continue to accept and implement orders by the Company for the purchase (and redemption) of shares of the Fund.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.6. For purposes of Sections 7.3 through 7.5 of this Agreement, a majority of the disinterested members of the Board shall determine whether any proposed action adequately remedies any irreconcilable material conflict but in no event will the Fund be required to establish a new funding medium for the Contracts. The Company shall not be required by Section 7.3 to establish a new funding medium for the Contracts if an offer to do so has been declined by vote of a majority of Contract owners materially adversely affected by the irreconcilable material conflict.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.7. If and to the extent that Rule 6e-2 and Rule 6e-3(T) are amended, or Rule 6e- 3 is adopted, to provide exemptive relief from any provision of the 1940 Act or the rules promulgated thereunder with respect to mixed or shared funding (as defined in the Shared Funding Exemptive Order) on terms and conditions materially different from those contained in the Shared Funding Exemptive Order, then (a) the Fund and/or the Participating Insurance Companies, as appropriate, shall take such steps as may be necessary to comply with Rules 6e-2 and 6e-3(T), as amended, and Rule 6e-3, as adopted, to the extent such rules are applicable; and (b) Sections 3.4, 3.5, 7.1, 7.2, 7.3, 7.4, and 7.5 of this Agreement shall continue in effect only to the extent that terms and conditions substantially identical to such Sections are contained in such Rule(s) as so amended or adopted.

**ARTICLE VIII. Indemnification**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.1. <u>Indemnification By The Company</u>

8.1(a) The Company agrees to indemnify and hold harmless the Fund and each member of the Board and officers, and each Adviser and each director and officer of each Adviser, and each person, if any, who controls the Fund or the Adviser within the meaning of Section 15 of the 1933 Act (collectively, the "Indemnified Parties" and individually, "Indemnified Party," for purposes of this Section 8.1) against any and all losses, claims, damages, liabilities (including amounts paid in settlement with the written consent of the Company) or litigation (including legal and other expenses), to which the Indemnified Parties may become subject under any statute, regulation, at common law or otherwise, insofar as such losses, claims, damages, liabilities or expenses (or actions in respect thereof) or settlements are related to the sale or acquisition of the Fund's shares or the Contracts and:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) arise out of or are based upon any untrue statements or alleged untrue statements of any material fact contained in the registration statement or prospectus for the Contracts or contained in the Contracts or sales literature for the Contracts (or any amendment or supplement to any of the foregoing), or arise out of or are based upon the omission or the alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, provided that this agreement to indemnify shall not apply as to any Indemnified Party if such statement or omission or such alleged statement or omission was made in reliance upon and in conformity with information furnished to the Company by or on behalf of the Fund for use in the registration statement or prospectus for the Contracts or in the Contracts or sales literature (or any amendment or supplement) or otherwise for use in connection with the sale of the Contracts or Fund shares; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) arise out of or as a result of statements or representations (other than statements or representations contained in the registration statement, prospectus or sales literature of the Fund not supplied by the Company, or persons under its control and other than statements or representations authorized by the Fund or an Adviser) or unlawful conduct of the Company or persons under its control, with respect to the sale or distribution of the Contracts or Fund shares; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) arise out of or as a result of any untrue statement or alleged untrue statement of a material fact contained in a registration statement, prospectus, or sales literature of the Fund or any amendment thereof or supplement thereto or the omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading if such a statement or omission was made in reliance upon and in conformity with information furnished to the Fund by or on behalf of the Company; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iv) arise as a result of any failure by the Company to provide the services and furnish the materials under the terms of this Agreement; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(v) arise out of or result from any material breach of any representation and/or warranty made by the Company in this Agreement or arise out of or result from any other material breach of this Agreement by the Company, as limited by and in accordance with the provisions of Sections 8.1(b) and 8.1(c) hereof.

8.1(b). The Company shall not be liable under this indemnification provision with respect to any losses, claims, damages, liabilities or litigation incurred or assessed against an Indemnified Party as such may arise from such Indemnified Party's willful misfeasance, bad faith, or gross negligence in the performance of such Indemnified Party's duties or by reason of such Indemnified Party's reckless disregard of obligations or duties under this Agreement.

8.1(c). The Company shall not be liable under this indemnification provision with respect to any claim made against an Indemnified Party unless such Indemnified Party shall have notified the Company in writing within a reasonable time after the summons or other first legal process giving information of the nature of the claim shall have been served upon such Indemnified Party (or after such Indemnified Party shall have received notice of such service on any designated agent), but failure to notify the Company of any such claim shall not relieve the Company from any liability which it may have to the Indemnified Party against whom such action is brought otherwise than on account of this indemnification provision. In case any such action is brought against the Indemnified Parties, the Company shall be entitled to participate, at its own expense, in the defense of such action. The Company also shall be entitled to assume the defense thereof, with counsel satisfactory to the party named in the action. After notice from the Company to such party of the Company's election to assume the defense thereof, the Indemnified Party shall bear the fees and expenses of any additional counsel retained by it, and the Company will not be liable to such party under this Agreement for any legal or other expenses subsequently incurred by such party independently in connection with the defense thereof other than reasonable costs of investigation.

8.1(d). The Indemnified Parties will promptly notify the Company of the commencement of any litigation or proceedings against them in connection with the issuance or sale of the Fund shares or the Contracts or the operation of the Fund.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.2. <u>Indemnification by the Advisers</u>

8.2(a). Each Adviser agrees, with respect to each Portfolio that it manages, to indemnify and hold harmless the Company and each of its directors and officers and each person, if any, who controls the Company within the meaning of Section 15 of the 1933 Act (collectively, the "Indemnified Parties" and individually, "Indemnified Party," for purposes of this Section 8.2) against any and all losses, claims, damages, liabilities (including amounts paid in settlement with the written consent of the Adviser) or litigation (including legal and other expenses) to which the Indemnified Parties may become subject under any statute, regulation, at common law or otherwise, insofar as such losses, claims, damages, liabilities or expenses (or actions in respect thereof) or settlements are related to the sale or acquisition of shares of the Portfolio that it manages or the Contracts and:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) arise out of or are based upon any untrue statement or alleged untrue statement of any material fact contained in the registration statement or prospectus or sales literature of the Fund (or any amendment or supplement to any of the foregoing),, or arise out of or are based upon the omission or the alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, provided that this agreement to indemnify shall not apply as to any Indemnified Party if such statement or omission or such alleged statement or omission was made in reliance upon and in conformity with information furnished to the Fund by or on behalf of the Company for use in the registration statement or prospectus for the Fund or in sales literature (or any amendment or supplement) or otherwise for use in connection with the sale of the Contracts or Portfolio shares; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) arise out of or as a result of statements or representations (other than statements or representations contained in the registration statement, prospectus or sales literature for the Contracts not supplied by the Fund or persons under its control and other than statements or representations authorized by the Company) or unlawful conduct of the Fund, Adviser(s) or Underwriter or persons under their control, with respect to the sale or distribution of the Contracts or Portfolio shares; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) arise out of or as a result of any untrue statement or alleged untrue statement of a material fact contained in a registration statement, prospectus, or sales literature covering the Contracts, or any amendment thereof or supplement thereto, or the omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statement or statements therein not misleading, if such statement or omission was made in reliance upon information furnished to the Company by or on behalf of the Fund; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iv) arise as a result of any failure by the Fund to provide the services and furnish the materials under the terms of this Agreement; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(v) arise out of or result from any material breach of any representation and/or warranty made by the Adviser in this Agreement or arise out of or result from any other material breach of this Agreement by the Adviser; as limited by and in accordance with the provisions of Sections 8.2(b) and 8.2(c) hereof.

8.2(b). An Adviser shall not be liable under this indemnification provision with respect to any losses, claims, damages, liabilities or litigation incurred or assessed against an Indemnified Party as such may arise from such Indemnified Party's willful misfeasance, bad faith, or gross negligence in the performance of such Indemnified Party's duties or by reason of such Indemnified Party's reckless disregard of obligations and duties under this Agreement.

8.2(c). An Adviser shall not be liable under this indemnification provision with respect to any claim made against an Indemnified Party unless such Indemnified Party shall have notified the Adviser in writing within a reasonable time after the summons or other first legal process giving information of the nature of the claim shall have been served upon such Indemnified Party (or after such Indemnified Party shall have received notice of such service on any designated agent), but failure to notify the Adviser of any such claim shall not relieve the Adviser from any liability which it may have to the Indemnified Party against whom such action is brought otherwise than on account of this indemnification provision. In case any such action is brought against the Indemnified Parties, the Adviser will lie entitled to participate, at its own expense, in the defense thereof. The Adviser also shall be entitled to assume the defense thereof, with counsel satisfactory to the party named in the action. After notice from the Adviser to such party of the Adviser's election to assume the defense thereof, the Indemnified Party shall bear the fees and expenses of any additional counsel retained by it, and the Adviser will not be liable to such party under this Agreement for any legal or other expenses subsequently incurred by such party independently in connection with the defense thereof other than reasonable costs of investigation.

8.2(d). The Company agrees promptly to notify the Adviser of the commencement of any litigation or proceedings against it or any of its officers or directors in connection with the issuance or sale of the Contracts or the operation of each Account.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.3. <u>Indemnification by the Fund</u>

8.3(a), The Fund agrees to indemnify and hold harmless the Company, and each of its directors and officers and each person, if any, who controls the Company within the meaning of Section 15 of the 1933 Act (hereinafter collectively, the "Indemnified Parties" and individually, "Indemnified Party," for purposes of this Section 8.3) against any and all losses, claims, damages, liabilities (including amounts paid in settlement with the written consent of the Fund) or litigation (including legal and other expenses) to which the Indemnified Parties may become subject under any statute, regulation, at common law or otherwise, insofar as such losses, claims, damages, liabilities or expenses (or actions in respect thereof) or settlements result from the gross negligence, bad faith or willful misconduct of the Board or any member thereof, are related to the operations of the Fund and:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) arise as a result of any failure by the Fund to provide the services and furnish the materials under the terms of this Agreement; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) arise out of or result from any material breach of any representation and/or warranty made by the Fund in this Agreement or arise out of or result from any other material breach of this Agreement by the Fund;

8.3(b). The Fund shall not be liable under this indemnification provision with respect to any losses, claims, damages, liabilities or litigation incurred or assessed against an Indemnified Party as may arise from such Indemnified Party's willful misfeasance, bad faith, or gross negligence in the performance of such Indemnified Party's duties or by reason of such Indemnified Party's reckless disregard of obligations and duties under this Agreement.

8.3(c). The Fund shall not be liable under this indemnification provision with respect to any claim made against an Indemnified Party unless such Indemnified Party shall have notified the Fund in writing within a reasonable time after the summons or other first legal process giving information of the nature of the claim shall have been served upon such Indemnified Party (or after such Indemnified Party shall have received notice of such service on any designated agent), but failure to notify the Fund of any such claim shall not relieve the Fund from any liability which it may have to the Indemnified Party against whom such action is brought otherwise than on account of this indemnification provision. In case any such action is brought against the Indemnified Parties, the Fund will be entitled to participate, at its own expense, in the defense thereof. The Fund also shall be entitled to assume the defense thereof, with counsel satisfactory to the party named in the action. After notice from the Fund to such party of the Fund's election to assume the defense thereof, the Indemnified Party shall bear the fees and expenses of any additional counsel retained by it, and the Fund will not be liable to such party under this Agreement for any legal or other expenses subsequently incurred by such party independently in connection with the defense thereof other than reasonable costs of investigation.

8.3(d). The Company agrees promptly to notify the Fund of the commencement of any litigation or proceedings against it or any of its respective officers or directors in connection with this Agreement, the issuance or sale of the Contracts, with respect to the operation of either Account, or the sale or acquisition of shares of the Fund.

**ARTICLE IX. Applicable Law**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.1. This Agreement shall be construed and the provisions hereof interpreted under and in accordance with the laws of the State of New York.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.2. This Agreement shall be subject to the provisions of the 1933, 1934 and 1940 Acts, and the rules and regulations and rulings thereunder, including such exemptions from those statutes, rules and regulations as the Securities and Exchange Commission may grant (including, but not limited to, the Shared Funding Exemptive Order) and the terms hereof shall be interpreted and construed in accordance therewith.

**ARTICLE X. Termination**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10.1. This Agreement shall continue in full force and effect until the first to occur of:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) termination by any party for any reason by six months advance written notice delivered to the other parties; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) termination by the Company by written notice to the Fund and the Adviser with respect to any Portfolio based upon the Company's determination that shares of such Portfolio are not reasonably available to meet the requirements of the Contracts; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) termination by the Company by written notice to the Fund and the Adviser with respect to any Portfolio in the event any of the Portfolio's shares are not registered, issued or sold in accordance with applicable state and/or federal law or such law precludes the use of such shares as the underlying investment media of the Contracts issued or to be issued by the Company; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) termination by the Company by written notice to the Fund and the Adviser with respect to any Portfolio in the event that such Portfolio ceases to qualify as a Regulated Investment Company under Subchapter M of the Code or under any successor or similar provision, or if the Company reasonably believes that the Fund may fail to so qualify; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) termination by the Company by written notice to the Fund and the Adviser with respect to any Portfolio in the event that such Portfolio falls to meet the diversification requirements specified in Article VI hereof; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) termination by either the Fund by written notice to the Company if the Fund shall determine, in its sole judgment exercised in good faith, that the Company and/or its affiliated companies has suffered a material adverse change in its business, operations, financial condition or prospects since the date of this Agreement or is the subject of material adverse publicity, or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g) termination by the Company by written notice to the Fund and the Adviser, if the Company shall determine, in its sole judgment exercised in good faith, that either the Fund or the Adviser has suffered a material adverse change in its business, operations, financial condition or prospects since the date of this Agreement or is the subject of material adverse publicity; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h) termination by the Fund or the Adviser by written notice to the Company, if the Company gives the Fund and the Adviser the written notice specified in Section 1.5 hereof and at the time such notice was given there was no notice of termination outstanding under any other provision of this Agreement; provided, however any termination under this Section 10.1(h) shall be effective forty five (45) days after the notice specified in Section 1.5 was given.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10.2. Notwithstanding any termination of this Agreement, the Fund shall at the option of the Company, continue to make available additional shares of the Fund pursuant to the terms and conditions of this Agreement, for all Contracts in effect on the effective date of termination of this Agreement (hereinafter referred to as "Existing, Contracts"). Specifically, without limitation, the owners of the Existing Contracts shall be permitted to direct reallocation of investments in the Fund, redemption of investments in the Fund and/or investment in the Fund upon the making of additional purchase payments under the Existing Contracts. The parties agree that this Section 10.2 shall not apply to any terminations under Article VII and the effect of such Article VII terminations shall be governed by Article VII of this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10.3. The Company shall not redeem Fund shares attributable to the Contracts (as distinct from Fund shares attributable to the Company's assets held in the Account) except (i) as necessary to implement Contract Owner initiated or approved transactions, or (ii) as required by state and/or federal laws or regulations or judicial or other legal precedent of general application (hereinafter referred to as a "Legally Required Redemption") or (iii) as permitted by an order of the Securities and Exchange Commission pursuant to Section 26(b) of the 1940 Act. Upon request, the Company will promptly furnish to the Fund the opinion of counsel for the Company (which counsel shall be reasonably satisfactory to the Fund) to the effect that any redemption pursuant to clause (ii) above is a Legally Required Redemption. Furthermore, except in cases where permitted under the terms of the Contracts, the Company shall not prevent Contract Owners from allocating payments to a Portfolio that was otherwise available under the Contracts without first giving the Fund 90 days prior written notice of its intention to do so.

**ARTICLE XI. Notices**

Any notice shall be sufficiently given when sent by registered or certified mail to the other party at the address of such party set forth below or at such other address as such party may from time to time specify in writing to the other party.

If to the Fund:

Morgan Stanley Universal Funds, Inc.

c/o Morgan Stanley Asset Management Inc.

1221 Avenue of the Americas

New York, New York 10020

Attention: Harold J. Schaaff, Jr., Esq.

If to Adviser:

Morgan Stanley Asset Management Inc.

1221 Avenue of the Americas

New York, New York 10020

Attention: Harold J. Schaaff, Jr., Esq.

If to Adviser:

Miller Anderson & Sherrerd, LLP

One Tower Bridge

West Conshohocken, Pennsylvania 19428

Attention: Lorraine Truten

If to the Company:

The Ohio National Life Insurance Company

One Financial Way

Cincinnati, Ohio 45242

Attention: John J. Palmer

**ARTICLE XII. Miscellaneous**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12.1. All persons dealing with the Fund must look solely to the property of the Fund for the enforcement of any claims against the Fund as neither the Board, officers, agents or shareholders assume any personal liability for obligations entered into on behalf of the Fund.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12.2. Subject to the requirements of legal process and regulatory authority, each party hereto shall treat as confidential the names and addresses of the owners of the Contracts and all information reasonably identified as confidential in writing by any other party hereto and, except as permitted by this Agreement, shall not disclose, disseminate or utilize such names and addresses and other confidential information until such time as it may come into the public domain without the express written consent of the affected party.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12.3. The captions in this Agreement are included for convenience of reference only and in no way define or delineate any of the provisions hereof or otherwise affect their construction or effect.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12.4. This Agreement may be executed simultaneously in two or more counterparts, each of which taken together shall constitute one and the same instrument.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12.5. If any provision of this Agreement shall be held or made invalid by a court decision, statute, rule or otherwise, the remainder of the Agreement shall not be affected thereby.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12.6. Each party hereto shall cooperate with each other party and all appropriate governmental authorities (including without limitation the Securities and Exchange Commission, the National Association of Securities Dealers and state insurance regulators) and shall permit such authorities reasonable access to its books and records in connection with any investigation or inquiry relating to this Agreement or the transactions contemplated hereby. Notwithstanding the generality of the foregoing, each party hereto further agrees to furnish the California Insurance Commissioner with any information or reports in connection with services provided under this Agreement which such Commissioner may request in order to ascertain whether the insurance operations of the Company are being conducted in a manner consistent with the California Insurance Regulations and any other applicable law or regulations.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12.7. The rights, remedies and obligations contained in this Agreement are cumulative and are in addition to any and all rights, remedies and obligations at law or in equity, which the parties hereto are entitled to under state and federal laws.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12.8. This Agreement or any of the rights and obligations hereunder may not be assigned by any party without the prior written consent of all parties hereto; provided, however, that an Adviser may assign this Agreement or any rights or obligations hereunder to any affiliate of or company under common control with the Adviser, if such assignee is duly licensed .and registered to perform the obligations of the Adviser under this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12.9. The Company shall furnish, or shall cause to be furnished, to the Fund or its designee copies of the following reports:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) the Company's annual statement (prepared under statutory accounting principles) and annual report (prepared under generally accepted accounting principles ("GAAP"), if any), as soon as practical and in any event within 90 days after the end of each fiscal year;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) the Company's quarterly statements (statutory) (and GAAP, if any), as soon as practical and in any event within 45 days after the end of each quarterly period:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) any financial statement, proxy statement, notice or report of the Company sent to stockholders and/or policyholders, as soon as practical after the delivery thereof to stockholders;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) any registration statement (without exhibits) and financial reports relating to the Contracts filed with the Securities and Exchange Commission or any state insurance regulator, as soon as practical after the filing thereof;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) any other report submitted to the Company by independent accountants in connection with any annual, interim or special audit made by them of the books of the Company, as soon as practical after the receipt thereof.

IN WITNESS WHEREOF, each of the parties hereto has caused this Agreement to be executed in its name and on its behalf by its duly authorized representative and its seal to be hereunder affixed hereto as of the date specified above.

---

| | |
|:---|:---|
| **THE OHIO NATIONAL LIFE INSURANCE COMPANY** | **THE OHIO NATIONAL LIFE INSURANCE COMPANY** |
| **By:** | /s/ John J. Palmer |
|  | **Name John J. Palmer** |
|  | **Title: Senior Vice President, Strategic Initiatives** |
| **MORGEN STANLEY UNIVERSAL FUNDS, INC.** | **MORGEN STANLEY UNIVERSAL FUNDS, INC.** |
| **By:** | /s/ Michael Klein |
|  | **Name Michael Klein** |
|  | **Title: President** |
| **MORGEN STANLEY ASSET MANAGEMENT INC.** | **MORGEN STANLEY ASSET MANAGEMENT INC.** |
| **By:** | /s/ Marna Whittington |
|  | **Name Marna Whittington** |
|  | **Title: Managing Director** |
| **MILLER ANDERSON & SHERRERD, LLP** | **MILLER ANDERSON & SHERRERD, LLP** |
| **By:** | /s/ Marna Whittington |
|  | **Name Marna Whittington** |
|  | **Title: Authorized Signatory** |

---

**SCHEDULE A**

**<u>SEPARATE ACCOUNTS AND CONTRACTS</u>**

---

| | |
|:---|:---|
| **Name of Separate Account and**<br> **Date Established by Board of Directors** | **Form Number and Name of Contract**<br> **Funded by Separate Account** |
| Ohio National Variable<br> Account A<br> Established August 1, 1969 | 98-VA-2 ONcore Premier<br> 98-VA-3 ONcore Value<br> 98-VA-4 ONcore Flex |

---

**SCHEDULE B**

**<u>PORTFOLIOS OF MORGAN STANLEY</u>**

**<u>UNIVERSAL FUNDS, INC.</u>**

**Fixed Income**

**Value**

**U.S. Real Estate**

**Emerging Markets Debt**

**SCHEDULE C**

**<u>PROXY VOTING PROCEDURES</u>**

The following is a list of procedures and corresponding responsibilities for the handling of proxies and voting instructions relating to the Fund. The defined terms herein shall have the meanings assigned in the Participation Agreement except that the term "Company" shall also include the department or third party assigned by the Company to perform the steps delineated below.

● The proxy proposals are given to the Company by the Fund as early as possible before the date set by the Fund for the shareholder meeting to enable the Company to consider and prepare for the solicitation of voting instructions from owners of the Contracts and to facilitate the establishment of tabulation procedures. At this time the Fund will inform the Company of the Record, Mailing and Meeting dates. This will be done verbally approximately two months before meeting.

● Promptly after the Record Date, the Company will perform a "tape run", or other activity, which will generate the names, addresses and number of units which are attributed to each contract owner/policyholder (the "Customer") as of the Record Date. Allowance should be made for account adjustments made after this date that could affect the status of the Customers' accounts as of the Record Date.

Note: The number of proxy statements is determined by the activities described in this Step #2. The Company will use its best efforts to call in the number of Customers to the Fund, as soon as possible, but no later than two weeks after the Record Date.

● The Fund's Annual Report must be sent to each Customer by the Company either before or together with the Customers' receipt of voting, instruction solicitation material. The Fund will provide the last Annual Report to the Company pursuant to the terms of Section 3.3 of the Agreement to which this Schedule relates.

● The text and format for the Voting Instruction Cards ("Cards" or "Card") is provided to the Company by the Fund. The Company, at its expense, shall produce and personalize the Voting Instruction Cards. The Fund or its affiliate must approve the Card before it: is printed. Allow approximately 2-4 business days for printing information on the Cards. Information commonly found on the Cards includes:

● name (legal name as found on account registration)

● address

● fund or account number

● coding to state number of units

● individual Card number for use in tracking and verification of votes (already on Cards as printed by the Fund).

(This and related steps may occur later in the chronological process due to possible uncertainties relating to the proposals.)

● During this time, the Fund will develop, produce and pay for the Notice of Proxy and the Proxy Statement (one document). Printed and folded notices and statements will be sent to Company for insertion into envelopes (envelopes and return envelopes are provided and paid for by the Company). Contents of envelope sent to Customers by the Company will include:

● Voting Instruction Card(s)

● One proxy notice and statement (one document)

● return envelope (postage pre-paid by Company) addressed to the Company or its tabulation agent

● "urge buckslip" - optional, but recommended. (This is a small, single sheet of paper that requests Customers to vote as quickly as possible and that their vote is important One copy will be supplied by the Fund.)

● cover letter - optional, supplied by Company and reviewed and approved in advance by the Fund.

● The above contents should be received by the Company approximately 3-5 business days before mail date. Individual in charge at Company reviews and approves the contents of the mailing package to ensure correctness and completeness. Copy of this approval sent to the Fund.

● Package mailed by the Company.

\* The Fund must allow at least a 15-day solicitation time to the Company as the shareowner. (A 5-week period is recommended.) Solicitation time is calculated as calendar days from (but <u>not</u> including,) the meeting, counting backwards.

● Collection and tabulation of Cards begins. Tabulation usually takes place in another department or another vendor depending on process used. An often used procedure is to sort Cards on arrival by proposal into vote categories of all yes, no, or mixed replies, and to begin data entry.

Note: Postmarks are not generally needed. A need for postmark information would be due to an insurance company's internal procedure and has not been, required by the Fund in the past.

● Signatures on Card checked against legal name on account registration which was printed on the Card.

Note: For Example, if the account registration is under "John A. Smith, Trustee," then that is the exact legal name to be printed on the Card and is the signature needed on the Card.

● If Cards are mutilated, or for any reason are illegible or are not signed properly, they are sent back to Customer with an explanatory letter and a new Card and return envelope. The mutilated or illegible Card is disregarded and considered to be <u>not received</u> for purposes of vote tabulation. Any Cards that have been "kicked out" (e.g. mutilated, illegible) of the procedure are "hand verified," i.e., examined as to why they did not complete the system. Any questions on those Cards are usually remedied individually.

● There are various control procedures used to ensure proper tabulation of votes and accuracy of that tabulation. The most prevalent is to sort the Cards as they first arrive into categories depending upon their vote; an estimate of how the vote is progressing may then be calculated. If the initial estimates and the actual vote do not coincide, then an internal audit of that vote should occur. This may entail a recount.

● The actual tabulation of votes is done in units which is then converted to shares. (It is very important that the Fund receives the tabulations stated in terms of a percentage and the number of <u>shares</u>.) The Fund must review and approve tabulation format.

● Final tabulation in shares is verbally given by the Company to the Fund on the morning of the meeting not later than 10:00 a.m. Eastern time. The Fund may request an earlier deadline if reasonable and if required to calculate the vote in time for the meeting.

● A Certification of Mailing and Authorization to Vote Shares will be required from the Company as well as an original copy of the final vote. The Fund will provide a standard form for each Certification.

● The Company will be required to box and archive the Cards received from the Customers. In the event that any vote is challenged or if otherwise necessary for legal, regulatory, or accounting purposes, the Fund will be permitted reasonable access to such Cards.

● All approvals and "signing-off" may be done orally, but must always be followed up in writing.

**<u>AMENDMENT TO PARTICIPATION AGREEMENT</u>**

This AMENDMENT TO PARTICIPATION AGREEMENT (the "Amendment") is made and entered into as of this 1<sup>st</sup> day of December, 2005, by and among THE OHIO NATIONAL LIFE INSURANCE COMPANY (the "Company"), on its own behalf and on behalf of each separate account of the Company identified in the Participation Agreement (as defined below), THE UNIVERSAL INSTITUTIONAL FUNDS, INC. (the "Fund") and MORGAN STANLEY INVESTMENT MANAGEMENT INC. (the "Adviser").

WHEREAS, the Company, the Fund and the Adviser wish to make Class II shares of the Portfolios of the Fund identified on Schedule B hereto available under the Participation Agreement; and

WHEREAS, the Company, the Fund and the Adviser wish to amend the Participation Agreement in certain respects.

NOW, THEREFORE, in consideration of their mutual promises, and other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the Company, the Fund and the Adviser agree to amend the Participation Agreement as follows:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. Schedule A of the Participation Agreement is deleted and replaced in its entirety with the attached Schedule A.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. Schedule B of the Participation Agreement is deleted and replaced in its entirety with the attached Schedule B.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3. All references in the Participation Agreement to "shares" of a Portfolio shall mean the class or classes of shares specifically identified on Schedule B.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4. The text of Section 5.1 of the Participation Agreement is deleted and replaced in its entirety with the following: "The Fund shall pay no fee or other compensation to the Company under this Agreement, except that if the Fund or any Portfolio adopts and implements a service plan and/or a plan pursuant to Rule 12b-l, then the Underwriter may make payments to the Company or to the underwriter for the Contracts pursuant to such plans if and in amounts agreed to by the Underwriter in writing."

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5. Except as provided herein, the Participation Agreement shall remain in full force and effect. This Amendment and the Participation Agreement, as amended, constitute the entire agreement between the parties hereto pertaining to the subject matter hereof and fully supersede any and all prior agreements or understandings between the parties hereto pertaining to the subject matter hereof. In the event of any conflict between the terms of this Amendment and the Participation Agreement, the terms of this Amendment shall control.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6. This Amendment may be amended only by written instrument executed by each party hereto.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7. This Amendment shall be effective as of May 1, 2003.

IN WITNESS WHEREOF, each of the parties hereto has caused this Amendment to be executed in its name and on its behalf by its duly authorized representative and its seal hereunder affixed hereto as of the date specified above.

THE OHIO NATIONAL LIFE INSURANCE COMPANY

---

| | |
|:---|:---|
| **By:** | /s/ Thomas A. Barefield |
|  | **Name: Thomas A. Barefield** |
|  | **Title: SVP** |

---

THE UNIVERSAL INSTITUTIONAL FUNDS, INC.

---

| | |
|:---|:---|
| **By:** | /s/ Ronald E. Robison |
|  | **Name: Ronald E. Robison** |
|  | **Title: President** |

---

MORGAN STANLEY INVESTMENT MANAGEMENT INC.

---

| | |
|:---|:---|
| **By:** | /s/ Ronald E. Robison |
|  | **Name: Ronald E. Robison** |
|  | **Title: Managing Director** |

---

**<u>SCHEDULE A</u>**

**<u>SEPARATE ACCOUNTS AND ASSOCIATED CONTRACTS</u>**

---

| | |
|:---|:---|
| **Name of Separate Account and**<br> **Date Established by Board of Directors** | **Form Number and Name of**<br> **Contract Funded by Separate Account** |
| Ohio National Variable<br> Account A<br> Established August 1, 1969 | ONcore Premier Contract Form 98-VA-2/2U<br> ONcore Value Contract Form 98-VA-3/3U<br> ONcore Lite Contract Form 00-VA-2/2U<br> ONcore Xtra Contract Form 99-VA-2/2U<br> ONcore Flex Contract Form 98-VA-4/4U |
| Ohio National Variable<br> Account R<br> Established May 1, 1979 | Growth Perspective VUL Policy Form 00-VL-1/1U<br> Vari-Vest Survivor Life Policy Form 00-VL-2 |
| National Security Variable<br> Account N<br> Established January 4, 2002 | NScore Lite Policy Form NS-02-VA-07.1<br> NScore Xtra Policy Form NS-02-VA.07.5<br> NScore Premier Policy Form NS-02-V A.07.02 |
| National Security Variable<br> Account L<br> Established January 7, 2002 | NScore Security Advantage VUL Policy Form NS-02-VL-O7.1 |

---

**SCHEDULE B**

**PORTFOLIOS OF THE UNIVERSAL INSTITUTIONAL** 

**<u>FUNDS, INC, AVAILABLE UNDER THIS AGREEMENT</u>**

<u>Class I Shares</u>

Core Plus Fixed Income Portfolio – Class I Shares

Emerging Markets Debt Portfolio – Class I Shares

U.S. Real Estate Portfolio – Class I Shares

Value Portfolio – Class I Shares

<u>Class II Shares</u>

Core Plus Fixed Income Portfolio – Class II Shares

U.S. Real Estate Portfolio – Class II Shares

## Exhibit 99.30

**<u>PARTICIPATION AGREEMENT</u>**

**Among**

**THE OHIO NATIONAL LIFE INSURANCE COMPANY, OHIO NATIONAL LIFE ASSURANCE CORPORATION, NATIONAL SECURITY LIFE AND ANNUITY COMPANY, PIMCO VARIABLE INSURANCE TRUST, and**

**PIMCO FUNDS DISTRIBUTORS LLC**

THIS AGREEMENT, dated as of the first day of August, 2002, by and among The Ohio National Life Insurance Company, Ohio National Life Assurance Corporation, both Ohio life insurance companies, National Security Life and Annuity Company, a New York life insurance company, (collectively, the "Companies"), each on its own behalf and on behalf of each segregated asset account of the Companies set forth on Schedule A hereto as may be amended from time to time (each account hereinafter referred to as the "Account"), PIMCO Variable Insurance Trust (the "Fund"), a Delaware business trust, and PIMCO Funds Distributors LLC (the "Underwriter"), a Delaware limited liability company.

WHEREAS, the Fund engages in business as an open-end management investment company and is available to act as the investment vehicle for separate accounts established for variable life insurance and variable annuity contracts (the "Variable Insurance Products") to be offered by insurance companies which have entered into participation agreements with the Fund and Underwriter ("Participating Insurance Companies");

WHEREAS, the shares of beneficial interest of the Fund are divided into several series of shares, each designated a "Portfolio" and representing the interest in a particular managed portfolio of securities and other assets;

WHEREAS, the Fund has obtained an order from the Securities and Exchange Commission (the "SEC") granting Participating Insurance Companies and variable annuity and variable life insurance separate accounts exemptions from the provisions of sections 9(a), 13(a), 15(a), and 15(b) of the Investment Company Act of 1940, as amended, (the "1940 Act") and Rules 6e-2(b)(15) and 6e-3(T)(b)(15) thereunder, if and to the extent necessary to permit shares of the Fund to be sold to and held by variable annuity and variable life insurance separate accounts of both affiliated and unaffiliated life insurance companies (the "Mixed and Shared Funding Exemptive Order");

WHEREAS, the Fund is registered as an open-end management investment company under the 1940 Act and shares of the Portfolios are registered under the Securities Act of 1933, as amended (the "1933 Act");

WHEREAS, Pacific Investment Management Company (the "Adviser"), which serves as investment adviser to the Fund, is duly registered as an investment adviser under the federal Investment Advisers Act of 1940; as amended;

WHEREAS, the Companies have issued or will issue certain variable life insurance and/or variable annuity contracts supported wholly or partially by the Account (the "Contracts"), and said Contracts are listed in Schedule A hereto, as it may be amended from time to time by mutual written agreement;

WHEREAS, the Account is duly established and maintained as a segregated asset account, duly established by the Companies, on the dates shown for such Account on Schedule A hereto, to set aside and invest assets attributable to the aforesaid Contracts;

WHEREAS, the Underwriter, which serves as distributor to the Fund, is registered as a broker dealer with the SEC under the Securities Exchange Act of 1934, as amended (the "1934 Act"), and is a member in good standing of the National Association of Securities Dealers, Inc. (the "NASD"); and

WHEREAS, to the extent permitted by applicable insurance laws and regulations, the Company intends to purchase Administrative Class shares in the Portfolios listed in Schedule A hereto, as it may be amended from time to time by mutual written agreement (the "Designated Portfolios") on behalf of the Account to fund the aforesaid Contracts, and the Underwriter is authorized to sell such shares to the Account at net asset value;

NOW, THEREFORE, in consideration of their mutual promises, the Companies, the Fund and the Underwriter agree as follows: 

ARTICLE I. <u>Sale of Fund Shares</u>

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.1. The Fund has granted to the Underwriter exclusive authority to distribute the Fund's shares, and has agreed to instruct, and has so instructed, the Underwriter to make available to the Companies for purchase on behalf of the Account Fund shares of those Designated Portfolios selected by the Underwriter. Pursuant to such authority and instructions, and subject to Article X hereof, the Underwriter agrees to make available to the Companies for purchase on behalf of the Account, shares of those Designated Portfolios listed on Schedule A to this Agreement, such purchases to be effected at net asset value in accordance with Section 1.3 of this Agreement. Notwithstanding the foregoing, (i) Fund series (other than those listed on Schedule A) in existence now or that may be established in the future will be made available to the Companies only as the Underwriter may so provide, and (ii) the Board of Trustees of the Fund (the "Board") may suspend or terminate the offering of Fund shares of any Designated Portfolio or class thereof, if such action is required by law or by regulatory authorities having jurisdiction or if, in the sole discretion of the Board acting in good faith and in light of its fiduciary duties under federal and any applicable state laws, suspension or termination is necessary in the best interests of the shareholders of such Designated Portfolio.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.2. The Fund shall redeem, at the Companies' request, any full or fractional Designated Portfolio shares held by the Companies on behalf of the Account, such redemptions to be effected at net asset value in accordance with Section 1.3 of this Agreement. Notwithstanding the foregoing, (i) the Companies shall not redeem Fund shares attributable to Contract owners except in the circumstances permitted in Section 10.3 of this Agreement, and (ii) the Fund may delay redemption of Fund shares of any Designated Portfolio to the extent permitted by the 1940 Act, and any rules, regulations or orders thereunder.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.3. <u>Purchase and Redemption Procedures</u>

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) The Fund hereby appoints the Companies as agents of the Fund for the limited purpose of receiving purchase and redemption requests on behalf of the Account (but not with respect to any Fund shares that may be held in the general accounts of the Companies) for shares of those Designated Portfolios made available hereunder, based on allocations of amounts to the Account or subaccounts thereof under the Contracts and other transactions relating to the Contracts or the Account. Receipt of any such request (or relevant transactional information therefor) on any day the New York Stock Exchange is open for trading and on which the Fund calculates its net asset value pursuant to the rules of the SEC (a "Business Day") by the Companies as such limited agent of the Fund prior to the time that the Fund ordinarily calculates its net asset value as described from time to time in the Fund Prospectus (which as of the date of execution of this Agreement is 4:00 p.m. Eastern Time) shall constitute receipt by the Fund on that same Business Day, provided that the Fund receives notice of such request by 9:00 a.m. Eastern Time on the next following Business Day.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) The Companies shall pay for shares of each Designated Portfolio on the same day that each of the Companies notifies the Fund of a purchase request for such shares. Payment for Designated Portfolio shares shall be made in federal funds transmitted to the Fund by wire to be received by the Fund by 4:00 p.m. Eastern Time on the day the Fund is notified of the purchase request for Designated Portfolio shares (unless the Fund determines and so advises the Companies that sufficient proceeds are available from redemption of shares of other Designated Portfolios effected pursuant to redemption requests tendered by the Company on behalf of the Account). If federal funds are not received on time, such funds will be invested, and Designated Portfolio shares purchased thereby will be issued, as soon as practicable and the Companies shall promptly, upon the Fund's request, reimburse the Fund for any charges, costs, fees, interest or other expenses incurred by the Fund in connection with any advances to, or borrowing or overdrafts by, the Fund, or any similar expenses incurred by the Fund, as a result of portfolio transactions effected by the Fund based upon such purchase request. Upon receipt of federal funds so wired, such funds shall cease to be the responsibility of the Companies and shall become the responsibility of the Fund.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) Payment for Designated Portfolio shares redeemed by the Account or the Companies shall be made in federal funds transmitted by wire to the Companies or any other designated person on the next Business Day after the Fund is properly notified of the redemption order of such shares (unless redemption proceeds are to be applied to the purchase of shares of other Designated Portfolios in accordance with Section 1.3(b) of this Agreement), except that the Fund reserves the right to redeem Designated Portfolio shares in assets other than cash and to delay payment of redemption proceeds to the extent permitted under Section 22(e) of the 1940 Act and any Rules thereunder, and in accordance with the procedures and policies of the Fund as described in the then current prospectus. The Fund shall not bear any responsibility whatsoever for the proper disbursement or crediting of redemption proceeds by the Companies; the Companies alone shall be responsible for such action.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) Any purchase or redemption request for Designated Portfolio shares held or to be held in the Companies' general account shall be effected at the net asset value per share next determined after the Fund's receipt of such request, provided that, in the case of a purchase request, payment for Fund shares so requested is received by the Fund in federal funds prior to close of business for determination of such value, as defined from time to time in the Fund Prospectus.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.4. The Fund shall use its best efforts to make the net asset value per share for each Designated Portfolio available to the Companies by 7:00 p.m. Eastern Time each Business Day, and in any event, as soon as reasonably practicable after the net asset value per share for such Designated Portfolio is calculated, and shall calculate such net asset value in accordance with the Fund's Prospectus. Neither the Fund, any Designated Portfolio, the Underwriter, nor any of their affiliates shall be liable for any information provided to the Companies pursuant to this Agreement which information is based on incorrect information supplied by the Companies or any other Participating Insurance Company to the Fund or the Underwriter.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.5. The Fund shall furnish notice (by wire or telephone followed by written confirmation) to the Companies as soon as reasonably practicable of any income dividends or capital gain distributions payable on any Designated Portfolio shares. The Company, on its behalf and on behalf of the Account, hereby elects to receive all such dividends and distributions as are payable on any Designated Portfolio shares in the form of additional shares of that Designated Portfolio. The Companies reserve the right, on their behalf and on behalf of the Account, to revoke this election and to receive all such dividends and capital gain distributions in cash. The Fund shall notify the Companies promptly of the number of Designated Portfolio shares so issued as payment of such dividends and distributions.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.6. Issuance and transfer of Fund shares shall be by book entry only. Stock certificates will not be issued to the Companies or the Account. Purchase and redemption orders for Fund shares shall be recorded in an appropriate ledger for the Account or the appropriate subaccount of the Account.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.7. (a) The parties hereto acknowledge that the arrangement contemplated by this Agreement is not exclusive; the Fund's shares may be sold to other insurance companies (subject to Section 1.8 hereof) and the cash value of the Contracts may be invested in other investment companies, provided, however, that until this Agreement is terminated pursuant to Article X, the Companies shall promote the Designated Portfolios on the same basis as other funding vehicles available under the Contracts. Funding vehicles other than those listed on Schedule A to this Agreement may be available for the investment of the cash value of the Contracts, provided, however, (i) any such vehicle or series thereof, has investment objectives or policies that are substantially different from the investment objectives and policies of the Designated Portfolios available hereunder; (ii) the Companies give the Fund and the Underwriter 45 days written notice of its intention to make such other investment vehicle available as a funding vehicle for the Contracts; and (iii) unless such other investment company was available as a Funding vehicle for the Contracts prior to the date of this Agreement and the Companies have so informed the Fund and the Underwriter prior to their signing this Agreement, the Fund or Underwriter consents in writing to the use of such other vehicle, such consent not to be unreasonably withheld.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) The Companies shall not, without prior notice to the Underwriter (unless otherwise required by applicable law), take any action to operate the Account as a management investment company under the 1940 Act.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) The Companies shall not, without prior notice to the Underwriter (unless otherwise required by applicable law), induce Contract owners to change or modify the Fund or change the Fund's distributor or investment adviser.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) The Companies shall not, without prior notice to the Fund, induce Contract owners to vote on any matter submitted for consideration by the shareholders of the Fund in a manner other than as recommended by the Board of Trustees of the Fund.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.8. The Underwriter and the Fund shall sell Fund shares only to Participating Insurance Companies and their separate accounts and to persons or plans ("Qualified Persons") that communicate to the Underwriter and the Fund that they qualify to purchase shares of the Fund under Section 817(h) of the Internal Revenue Code of 1986, as amended (the "Code") and the regulations thereunder without impairing the ability of the Account to consider the portfolio investments of the Fund as constituting investments of the Account for the purpose of satisfying the diversification requirements of Section 817(h). The Underwriter and the Fund shall not sell Fund shares to any insurance company or separate account unless an agreement complying with Article VI of this Agreement is in effect to govern such sales, to the extent required. The Companies hereby represent and warrant that they and the Account are Qualified Persons. The Fund reserves the right to cease offering shares of any Designated Portfolio in the discretion of the Fund.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.9. In the event of an error in the pricing of any Portfolio shares, the Fund or the Underwriter shall notify the Companies as soon as practicable after discovering the error. The notice shall state the name of the Portfolio, the incorrect price and the correct price. If such error caused the Account to receive less than the amount to which it otherwise would have been entitled, the Fund or the Underwriter shall make all necessary adjustments so that the Account receives the amount to which it would have been entitled. If the error causes the Account to receive more than the amount to which it otherwise would have been entitled, the Companies will return such excess to the Fund.

ARTICLE II. <u>Representations and Warranties</u>

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.1. The Companies represent and warrant that the Contracts (a) are, or prior to issuance will be, registered under the 1933 Act, or (b) are not registered because they are properly exempt from registration under the 1933 Act or will be offered exclusively in transactions that are properly exempt from registration under the 1933 Act. The Companies further represent and warrant that the Contracts will be issued and sold in compliance in all material respects with all applicable federal securities and state securities and insurance laws and that the sale of the Contracts shall comply in all material respects with state insurance suitability requirements. The Companies further represent and warrant that they are insurance companies duly organized and in good standing under applicable law, that they have legally and validly established the Account prior to any issuance or sale thereof as a segregated asset account under Ohio and New York insurance laws, as applicable, and that they (a) have registered or, prior to any issuance or sale of the Contracts, will register the Account as a unit investment trust in accordance with the provisions of the 1940 Act to serve as a segregated investment account for the Contracts, or alternatively (b) has not registered the Account in proper reliance upon an exclusion from registration under the 1940 Act. The Companies shall register and qualify the Contracts or interests therein as securities in accordance with the laws of the various states only if and to the extent deemed advisable by the Companies.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.2. The Fund represents and warrants that Fund shares sold pursuant to this Agreement shall be registered under the 1933 Act, duly authorized for issuance and sold in compliance with applicable state and federal securities laws and that the Fund is and shall remain registered under the 1940 Act. The Fund shall amend the registration statement for its shares under the 1933 Act and the 1940 Act from time to time as required in order to effect the continuous offering of its shares. The Fund shall register and qualify the shares for sale in accordance with the laws of the various states only if and to the extent deemed advisable by the Fund or the Underwriter.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.3. The Fund may make payments to finance distribution expenses pursuant to Rule 12b-1 under the 1940 Act. Prior to financing distribution expenses pursuant to Rule 12b-1, the Fund will have the Board, a majority of whom are not interested persons of the Fund, formulate and approve a plan pursuant to Rule 12b-1 under the 1940 Act to finance distribution expenses.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.4. The Fund makes no representations as to whether any aspect of its operations, including, but not limited to, investment policies, fees and expenses, complies with the insurance and other applicable laws of the various states.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.5. The Fund represents that it is lawfully organized and validly existing under the laws of the State of Delaware and that it does and will comply in all material respects with the 1940 Act.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.6. The Underwriter represents and warrants that it is a member in good standing of the NASD and is registered as a broker-dealer with the SEC. The Underwriter further represents that it will sell and distribute the Fund shares in accordance with any applicable state and federal securities laws.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.7. The Fund and the Underwriter represent and warrant that all of their trustees/directors, officers, employees, investment advisers, and other individuals or entities dealing with the money and/or securities of the Fund are and shall continue to be at all times covered by a blanket fidelity bond or similar coverage for the benefit of the Fund in an amount not less than the minimum coverage as required currently by Rule 17g-1 of the 1940 Act or related provisions as may be promulgated from time to time. The aforesaid bond shall include coverage for larceny and embezzlement and shall be issued by a reputable bonding company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.8. The Companies represent and warrant that all of their directors, officers, employees, and other individuals/entities employed or controlled by the Companies dealing with the money and/or securities of the Account are covered by a blanket fidelity bond or similar coverage for the benefit of the Account, in an amount not less than $5 million. The aforesaid bond includes coverage for larceny and embezzlement and is issued by a reputable bonding company. The Companies agree to hold for the benefit of the Fund and to pay to the Fund any amounts lost from larceny, embezzlement or other events covered by the aforesaid bond to the extent such amounts properly belong to the Fund pursuant to the terms of this Agreement. The Companies agree to make all reasonable efforts to see that this bond or another bond containing these provisions is always in effect, and agrees to notify the Fund and the Underwriter in the event that such coverage no longer applies.

ARTICLE III. <u>Prospectuses and Proxy Statements; Voting</u>

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.1. The Underwriter shall provide the Companies with as many copies of the Fund's current prospectus (describing only the Designated Portfolios listed on Schedule A) or, to the extent permitted, the Fund's profiles as the Companies may reasonably request. The Companies shall bear the expense of printing copies of the current prospectus and profiles for the Contracts that will be distributed to existing Contract owners, and the Companies shall bear the expense of printing copies of the Fund's prospectus and profiles that are used in connection with offering the Contracts issued by the Companies. If requested by the Companies in lieu thereof, the Fund shall provide such documentation (including a final copy of the new prospectus on diskette at the Fund's expense) and other assistance as is reasonably necessary in order for the Companies once each year (or more frequently if the prospectus for the Fund is amended) to have the prospectus for the Contracts and the Fund's prospectus or profile printed together in one document (such printing to be at the Companies' expense).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.2. The Fund's prospectus shall state that the current Statement of Additional Information ("SAI") for the Fund is available, and the Underwriter (or the Fund), at its expense, shall provide a reasonable number of copies of such SAI free of charge to the Companies for themselves and for any owner of a Contract who requests such SAI.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.3. The Fund shall provide the Companies with information regarding the Fund's expenses, which information may include a table of fees and related narrative disclosure for use in any prospectus or other descriptive document relating to a Contract. The Companies agree that it will use such information in the form provided. The Companies shall provide prior written notice of any proposed modification of such information, which notice will describe in detail the manner in which the Companies propose to modify the information, and agree that they may not modify such information in any way without the prior consent of the Fund.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.4. The Fund, at its expense, shall provide the Companies with copies of its proxy material, reports to shareholders, and other communications to shareholders in such quantity as the Companies shall reasonably require for distributing to Contract owners.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.5. The Companies shall:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) solicit voting instructions from Contract owners;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) vote the Fund shares in accordance with instructions received from Contract owners; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) vote Fund shares for which no instructions have been received in the same proportion as Fund shares of
such portfolio for which instructions have been received,

so long as and to the extent that the SEC continues to interpret the 1940 Act to require pass-through voting privileges for variable contract owners or to the extent otherwise required by law. The Companies will vote Fund shares held in any segregated asset account in the same proportion as Fund shares of such portfolio for which voting instructions have been received from Contract owners, to the extent permitted by law.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.6. Participating Insurance Companies shall be responsible for assuring that each of their separate accounts participating in a Designated Portfolio calculates voting privileges as required by the Shared Funding Exemptive Order and consistent with any reasonable standards that the Fund may adopt and provide in writing.

ARTICLE IV. <u>Sales Material and Information</u>

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.1. The Companies shall furnish, or shall cause to be furnished, to the Fund or its designee, each piece of sales literature or other promotional material that the Companies develop and in which the Fund (or a Designated Portfolio thereof) or the Adviser or the Underwriter is named. No such material shall be used until approved by the Fund or its designee, and the Fund will use its best efforts for it or its designee to review such sales literature or promotional material within ten Business Days after receipt of such material. The Fund or its designee reserves the right to reasonably object to the continued use of any such sales literature or other promotional material in which the Fund (or a Designated Portfolio thereof) or the Adviser or the Underwriter is named, and no such material shall be used if the Fund or its designee so object.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.2. The Companies shall not give any information or make any representations or statements on behalf of the Fund or concerning the Fund or the Adviser or the Underwriter in connection with the sale of the Contracts other than the information or representations contained in the registration statement or prospectus or SAI for the Fund shares, as such registration statement and prospectus or SAI may be amended or supplemented from time to time, or in reports or proxy statements for the Fund, or in sales literature or other promotional material approved by the Fund or its designee or by the Underwriter, except with the permission of the Fund or the Underwriter or the designee of either.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.3. The Fund and the Underwriter, or their designee, shall furnish, or cause to be furnished, to the Companies, each piece of sales literature or other promotional material that it develops and in which the Companies, and/or their Account, is named. No such material shall be used until approved by the Companies, and the Companies will use their best efforts to review such sales literature or promotional material within ten Business Days after receipt of such material. The Companies reserve the right to reasonably object to the continued use of any such sales literature or other promotional material in which the Companies and/or their Account is named, and no such material shall be used if the Companies so objects.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.4. The Fund and the Underwriter shall not give any information or make any representations on behalf of the Companies or concerning the Companies, the Account, or the Contracts other than the information or representations contained in a registration statement, prospectus (which shall include an offering memorandum, if any, if the Contracts issued by the Companies or interests therein are not registered under the 1933 Act), or SAI for the Contracts, as such registration statement, prospectus, or SAI may be amended or supplemented from time to time, or in published reports for the Account which are in the public domain or approved by the Companies for distribution to Contract owners, or in sales literature or other promotional material approved by the Companies or their designee, except with the permission of the Companies.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.5. The Fund will provide to the Companies at least one complete copy of all registration statements, prospectuses, SAIs, reports, proxy statements, sales literature and other promotional materials, applications for exemptions, requests for no-action letters, and all amendments to any of the above, that relate to the Fund or its shares, promptly after the filing of such document(s) with the SEC or other regulatory authorities.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.6. The Companies will provide to the Fund at least one complete copy of all registration statements, prospectuses (which shall include an offering memorandum, if any, if the Contracts issued by the Companies or interests therein are not registered under the 1933 Act), SAIs, reports, solicitations for voting instructions, sales literature and other promotional materials, applications for exemptions, requests for no-action letters, and all amendments to any of the above, that relate to the Contracts or the Account, promptly after the filing of such document(s) with the SEC or other regulatory authorities. The Companies shall provide to the Fund and the Underwriter any complaints received from the Contract owners pertaining to the Fund or the Designated Portfolio.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.7. The Fund will provide the Companies with as much notice as is reasonably practicable of any proxy solicitation for any Designated Portfolio, and of any material change in the Fund's registration statement, particularly any change resulting in a change to the registration statement or prospectus for any Account. The Fund will work with the Companies so as to enable the Companies to solicit proxies from Contract owners, or to make changes to its prospectus or registration statement, in an orderly manner. The Fund will make reasonable efforts to attempt to have changes affecting Contract prospectuses become effective simultaneously with the annual updates for such prospectuses.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.8. For purposes of this Article IV, the phrase "sales literature and other promotional materials" includes, but is not limited to, any of the following that refer to the Fund or any affiliate of the Fund: advertisements (such as material published, or designed for use in, a newspaper, magazine, or other periodical, radio, television, telephone or tape recording, videotape display, signs or billboards, motion pictures, or other public media), sales literature (i.e., any written communication distributed or made generally available to customers or the public, including brochures, circulars, reports, market letters, form letters, seminar texts, reprints or excerpts of any other advertisement, sales literature, or published article), educational or training materials or other communications distributed or made generally available to some or all agents or employees, and registration statements, prospectuses, SAIs, shareholder reports, proxy materials, and any other communications distributed or made generally available with regard to the Fund.

ARTICLE V. <u>Fees and Expenses</u>

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.1. The Fund and the Underwriter shall pay no fee or other compensation to the Companies under this Agreement, except that if the Fund or any Portfolio adopts and implements a plan pursuant to Rule 12b-1 to finance distribution expenses, then the Fund or Underwriter may make payments to the Companies or to the underwriter for the Contracts if and in amounts agreed to by the Underwriter in writing, and such payments will be made out of existing fees otherwise payable to the Underwriter, past profits of the Underwriter, or other resources available to the Underwriter. Currently, no such payments are contemplated.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.2. All expenses incident to performance by the Fund under this Agreement shall be paid by the Fund. The Fund shall see to it that all its shares are registered and authorized for issuance in accordance with applicable federal law and, if and to the extent deemed advisable by the Fund, in accordance with applicable state laws prior to their sale. The Fund shall bear the expenses for the cost of registration and qualification of the Fund's shares, preparation and filing of the Fund's prospectus and registration statement, proxy materials and reports, setting the prospectus in type, setting in type and printing the proxy materials and reports to shareholders (including the costs of printing a prospectus that constitutes an annual report), the preparation of all statements and notices required by any federal or state law, and all taxes on the issuance or transfer of the Fund's shares.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.3. The Companies shall bear the expenses of distributing the Fund's prospectus to owners of Contracts issued by the Companies and of distributing the Fund's proxy materials and reports to such Contract owners.

ARTICLE VI. <u>Diversification and Qualification</u>

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.1. The Fund will invest its assets in such a manner as to ensure that the Contracts will be treated as annuity or life insurance contracts, whichever is appropriate, under the Code and the regulations issued thereunder (or any successor provisions). Without limiting the scope of the foregoing, each Designated Portfolio has complied and will continue to comply with Section 817(h) of the Code and Treasury Regulation §1.817-5, and any Treasury interpretations thereof, relating to the diversification requirements for variable annuity, endowment, or life insurance contracts, and any amendments or other modifications or successor provisions to such Section or Regulations. In the event of a breach of this Article VI by the Fund, it will take all reasonable steps (a) to notify the Companies of such breach and (b) to adequately diversify the Fund so as to achieve compliance within the grace period afforded by Regulation 1.817-5.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.2. The Fund represents that it is or will be qualified as a Regulated Investment Company under Subchapter M of the Code, and that it will make every effort to maintain such qualification (under Subchapter M or any successor or similar provisions) and that it will notify the Companies immediately upon having a reasonable basis for believing that it has ceased to so qualify or that it might not so qualify in the future.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.3. The Companies represent that the Contracts are currently, and at the time of issuance shall be, treated as life insurance or annuity insurance contracts, under applicable provisions of the Code, and that they will make every effort to maintain such treatment, and that they will notify the Fund and the Underwriter immediately upon having a reasonable basis for believing the Contracts have ceased to be so treated or that they might not be so treated in the future. The Companies agree that any prospectus offering a contract that is a "modified endowment contract" as that term is defined in Section 7702A of the Code (or any successor or similar provision), shall identify such contract as a modified endowment contract.

ARTICLE VII. <u>Potential Conflicts</u>

The following provisions shall apply only upon issuance of the Mixed and Shared Funding Order and the sale of shares of the Fund to variable life insurance separate accounts, and then only to the extent required under the 1940 Act.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.1. The Board will monitor the Fund for the existence of any material irreconcilable conflict between the interests of the Contract owners of all separate accounts investing in the Fund. An irreconcilable material conflict may arise for a variety of reasons, including: (a) an action by any state insurance regulatory authority; (b) a change in applicable federal or state insurance, tax, or securities laws or regulations, or a public ruling, private letter ruling, no-action or interpretative letter, or any similar action by insurance, tax, or securities regulatory authorities; (c) an administrative or judicial decision in any relevant proceeding; (d) the manner in which the investments of any Portfolio are being managed; (e) a difference in voting instructions given by variable annuity contract and variable life insurance contract owners; or (f) a decision by an insurer to disregard the voting instructions of contract owners. The Board shall promptly inform the Companies if it determines that an irreconcilable material conflict exists and the implications thereof.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.2. The Companies will report any potential or existing conflicts of which they are aware to the Board. The Companies will assist the Board in carrying out their responsibilities under the Mixed and Shared Funding Exemptive Order, by providing the Board with all information reasonably necessary for the Board to consider any issues raised. This includes, but is not limited to, an obligation by the Companies to inform the Board whenever Contract owner voting instructions are disregarded.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.3. If it is determined by a majority of the Board, or a majority of its disinterested members, that a material irreconcilable conflict exists, the Companies and other Participating Insurance Companies shall, at their expense and to the extent reasonably practicable (as determined by a majority of the disinterested Board members), take whatever steps are necessary to remedy or eliminate the irreconcilable material conflict, up to and including: (1) withdrawing the assets allocable to some or all of the separate accounts from the Fund or any Portfolio and reinvesting such assets in a different investment medium, including (but not limited to) another Portfolio of the Fund, or submitting the question whether such segregation should be implemented to a vote of all affected contract owners and, as appropriate, segregating the assets of any appropriate group (i.e., annuity contract owners, life insurance contract owners, or variable contract owners of one or more Participating Insurance Companies) that votes in favor of such segregation, or offering to the affected contract owners the option of making such a change; and (2) establishing a new registered management investment company or managed separate account.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.4. If a material irreconcilable conflict arises because of a decision by the Companies to disregard Contract owner voting instructions and that decision represents a minority position or would preclude a majority vote, the Companies may be required, at the Fund's election, to withdraw the Account's investment in the Fund and terminate this Agreement with respect to each Account; provided, however, that such withdrawal and termination shall be limited to the extent required by the foregoing material irreconcilable conflict as determined by a majority of the disinterested members of the Board. Any such withdrawal and termination must take place within six (6) months after the Fund gives written notice that this provision is being implemented, and until the end of that six month period the Fund shall continue to accept and implement orders by the Companies for the purchase (and redemption) of shares of the Fund.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.5. If a material irreconcilable conflict arises because a particular state insurance regulator's decision applicable to the Companies conflicts with the majority of other state regulators, then the Companies will withdraw the affected Account's investment in the Fund and terminate this Agreement with respect to such Account within six months after the Board informs the Companies in writing that it has determined that such decision has created an irreconcilable material conflict; provided, however, that such withdrawal and termination shall be limited to the extent required by the foregoing material irreconcilable conflict as determined by a majority of the disinterested members of the Board. Until the end of the foregoing six month period, the Fund shall continue to accept and implement orders by the Companies for the purchase (and redemption) of shares of the Fund.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.6. For purposes of Section 7.3 through 7.6 of this Agreement, a majority of the disinterested members of the Board shall determine whether any proposed action adequately remedies any irreconcilable material conflict, but in no event will the Fund be required to establish a new funding medium for the Contracts. The Companies shall not be required by Section 7.3 to establish a new funding medium for the Contracts if an offer to do so has been declined by vote of a majority of Contract owners materially adversely affected by the irreconcilable material conflict. In the event that the Board determines that any proposed action does not adequately remedy any irreconcilable material conflict, then the Companies will withdraw the Account's investment in the Fund and terminate this Agreement within six (6) months after the Board informs the Companies in writing of the foregoing determination; provided, however, that such withdrawal and termination shall be limited to the extent required by any such material irreconcilable conflict as determined by a majority of the disinterested members of the Board.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.7. If and to the extent the Mixed and Shared Funding Exemption Order or any amendment thereto contains terms and conditions different from Sections 3.4, 3.5, 3.6, 7.1, 7.2, 7.3, 7.4, and 7.5 of this Agreement, then the Fund and/or the Participating Insurance Companies, as appropriate, shall take such steps as may be necessary to comply with the Mixed and Shared Funding Exemptive Order, and Sections 3.4, 3.5, 3.6, 7.1, 7.2, 7.3, *7.4* and 7.5 of this Agreement shall continue in effect only to the extent that terms and conditions substantially identical to such Sections are contained in the Mixed and Shared Funding Exemptive Order or any amendment thereto. If and to the extent that Rule 6e-2 and Rule 6e-3(T) are amended, or Rule 6e-3 is adopted, to provide exemptive relief from any provision of the 1940 Act or the rules promulgated thereunder with respect to mixed or shared funding (as defined in the Mixed and Shared Funding Exemptive Order) on terms and conditions materially different from those contained in the Mixed and Shared Funding Exemptive Order, then (a) the Fund and/or the Participating Insurance Companies, as appropriate, shall take such steps as may be necessary to comply with Rules 6e-2 and 6e-3(T), as amended, and Rule 6e-3, as adopted, to the extent such rules are applicable; and (b) Sections 3.5, 3.6, 7.1., 7.2, 7.3, 7.4, and 7.5 of this Agreement shall continue in effect only to the extent that terms and conditions substantially identical to such Sections are contained in such Rule(s) as so amended or adopted.

ARTICLE VIII. <u>Indemnification</u>

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.1. <u>Indemnification By the Companies</u>

8.1(a). The Companies agree to indemnify and hold harmless the Fund and the Underwriter and each of its trustees/directors and officers, and each person, if any, who controls the Fund or Underwriter within the meaning of Section 15 of the 1933 Act or who is under common control with the Underwriter (collectively, the "Indemnified Parties" for purposes of this Section 8.1) against any and all losses, claims, damages, liabilities (including amounts paid in settlement with the written consent of the Companies) or litigation (including legal and other expenses), to which the Indemnified Parties may become subject under any statute or regulation, at common law or otherwise, insofar as such losses, claims, damages, liabilities or expenses (or actions in respect thereof) or settlements:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) arise out of or are based upon any untrue statement or alleged untrue statements of any material fact contained in the registration statement, prospectus (which shall include a written description of a Contract that is not registered under the 1933 Act), or SAI for the Contracts or contained in the Contracts or sales literature for the Contracts (or any amendment or supplement to any of the foregoing), or arise out of or are based upon the omission or the alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, provided that this agreement to indemnify shall not apply as to any Indemnified Party if such statement or omission or such alleged statement or omission was made in reliance upon and in conformity with information furnished to the Companies by or on behalf of the Fund for use in the registration statement, prospectus or SAI for the Contracts or in the Contracts or sales literature (or any amendment or supplement) or otherwise for use in connection with the sale of the Contracts or Fund shares; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) arise out of or as a result of statements or representations (other than statements or representations contained in the registration statement, prospectus, SAI, or sales literature of the Fund not supplied by the Companies or persons under its control) or wrongful conduct of the Companies or its agents or persons under the Companies' authorization or control, with respect to the sale or distribution of the Contracts or Fund Shares; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) arise out of any untrue statement or alleged untrue statement of a material fact contained in a registration statement, prospectus, SAI, or sales literature of the Fund or any amendment thereof or supplement thereto or the omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading if such a statement or omission was made in reliance upon information furnished to the Fund by or on behalf of the Companies; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iv) arise as a result of any material failure by the Companies to provide the services and furnish the materials under the terms of this Agreement (including a failure, whether unintentional or in good faith or otherwise, to comply with the qualification requirements specified in Article VI of this Agreement); or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(v) arise out of or result from any material breach of any representation and/or warranty made by the Companies in this Agreement or arise out of or result from any other material breach of this Agreement by the Companies; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(vi) as limited by and in accordance with the provisions of Sections 8.1(b) and 8.1(c) hereof.

8.1(b). The Companies shall not be liable under this indemnification provision with respect to any losses, claims, damages, liabilities or litigation to which an Indemnified Party would otherwise be subject by reason of such Indemnified Party's willful misfeasance, bad faith, or gross negligence in the performance of such Indemnified Party's duties or by reason of such Indemnified Party's reckless disregard of its obligations or duties under this Agreement.

8.1(c). The Companies shall not be liable under this indemnification provision with respect to any claim made against an Indemnified Party unless such Indemnified Party shall have notified the Companies in writing within a reasonable time after the summons or other first legal process giving information of the nature of the claim shall have been served upon such Indemnified Party (or after such Indemnified Party shall have received notice of such service on any designated agent), but failure to notify the Companies of any such claim shall not relieve the Companies from any liability which they may have to the Indemnified Party against whom such action is brought otherwise than on account of this indemnification provision. In case any such action is brought against an Indemnified Party, the Companies shall be entitled to participate, at their own expense, in the defense of such action. The Companies also shall be entitled to assume the defense thereof, with counsel satisfactory to the party named in the action. After notice from the Companies to such party of the Companies' election to assume the defense thereof, the Indemnified Party shall bear the fees and expenses of any additional counsel retained by it, and the Companies will not be liable to such party under this Agreement for any legal or other expenses subsequently incurred by such party independently in connection with the defense thereof other than reasonable costs of investigation.

8.1(d). The Indemnified Parties will promptly notify the Companies of the commencement of any litigation or proceedings against them in connection with the issuance or sale of the Fund shares or the Contracts or the operation of the Fund.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.2. <u>Indemnification by the Underwriter</u>

8.2(a). The Underwriter agrees to indemnify and hold harmless the Companies and each of their directors and officers and each person, if any, who controls the Companies within the meaning of Section 15 of the 1933 Act (collectively, the "Indemnified Parties" for purposes of this Section 8.2) against any and all losses, claims, damages, liabilities (including amounts paid in settlement with the written consent of the Underwriter) or litigation (including legal and other expenses) to which the Indemnified Parties may become subject under any statute or regulation, at common law or otherwise, insofar as such losses, claims, damages, liabilities or expenses (or actions in respect thereof) or settlements:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) arise out of or are based upon any untrue statement or alleged untrue statement of any material fact contained in the registration statement or prospectus or SAI or sales literature of the Fund (or any amendment or supplement to any of the foregoing), or arise out of or are based upon the omission or the alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, provided that this agreement to indemnify shall not apply as to any Indemnified Party if such statement or omission or such alleged statement or omission was made in reliance upon and in conformity with information furnished to the Underwriter or Fund by or on behalf of the Companies for use in the registration statement, prospectus or SAI for the Fund or in sales literature (or any amendment or supplement) or otherwise for use in connection with the sale of the Contracts or Fund shares; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) arise out of or as a result of statements or representations (other than statements or representations contained in the registration statement, prospectus, SAI or sales literature for the Contracts not supplied by the Underwriter or persons under its control) or wrongful conduct of the Fund or Underwriter or persons under their control, with respect to the sale or distribution of the Contracts or Fund shares; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) arise out of any untrue statement or alleged untrue statement of a material fact contained in a registration statement, prospectus, SAI or sales literature covering the Contracts, or any amendment thereof or supplement thereto, or the omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statement or statements therein not misleading, if such statement or omission was made in reliance upon information furnished to the Companies by or on behalf of the Fund or the Underwriter; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iv) arise as a result of any failure by the Fund or the Underwriter to provide the services and furnish the materials under the terms of this Agreement (including a failure of the Fund, whether unintentional or in good faith or otherwise, to comply with the diversification and other qualification requirements specified in Article VI of this Agreement); or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(v) arise out of or result from any material breach of any representation and/or warranty made by the Underwriter in this Agreement or arise out of or result from any other material breach of this Agreement by the Underwriter;

as limited by and in accordance with the provisions of Sections 8.2(b) and 8.2(c) hereof.

8.2(b). The Underwriter shall not be liable under this indemnification provision with respect to any losses, claims, damages, liabilities or litigation to which an Indemnified Party would otherwise be subject by reason of such Indemnified Party's willful misfeasance, bad faith, or gross negligence in the performance or such Indemnified Party's duties or by reason of such Indemnified Party's reckless disregard of obligations and duties under this Agreement or to the Companies or the Account, whichever is applicable.

8.2(c). The Underwriter shall not be liable under this indemnification provision with respect to any claim made against an Indemnified Party unless such Indemnified Party shall have notified the Underwriter in writing within a reasonable time after the summons or other first legal process giving information of the nature of the claim shall have been served upon such Indemnified Party (or after such Indemnified Party shall have received notice of such service on any designated agent), but failure to notify the Underwriter of any such claim shall not relieve the Underwriter from any liability which it may have to the Indemnified Party against whom such action is brought otherwise than on account of this indemnification provision. In case any such action is brought against the Indemnified Party, the Underwriter will be entitled to participate, at its own expense, in the defense thereof. The Underwriter also shall be entitled to assume the defense thereof, with counsel satisfactory to the party named in the action. After notice from the Underwriter to such party of the Underwriter's election to assume the defense thereof, the Indemnified Party shall bear the fees and expenses of any additional counsel retained by it, and the Underwriter will not be liable to such party under this Agreement for any legal or other expenses subsequently incurred by such party independently in connection with the defense thereof other than reasonable costs of investigation.

The Companies agree promptly to notify the Underwriter of the commencement of any litigation or proceedings against them or any of their officers or directors in connection with the issuance or sale of the Contracts or the operation of the Account.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.3. <u>Indemnification By the Fund</u>

8.3(a). The Fund agrees to indemnify and hold harmless the Companies and each of their directors and officers and each person, if any, who controls the Companies within the meaning of Section 15 of the 1933 Act (collectively, the "Indemnified Parties" for purposes of this Section 8.3) against any and all losses, claims, expenses, damages, liabilities (including amounts paid in settlement with the written consent of the Fund) or litigation (including legal and other expenses) to which the Indemnified Parties may be required to pay or may become subject under any statute or regulation, at common law or otherwise, insofar as such losses, claims, expenses, damages, liabilities or expenses (or actions in respect thereof) or settlements, are related to the operations of the Fund and:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) arise as a result of any failure by the Fund to provide the services and furnish the materials under the terms of this Agreement (including a failure, whether unintentional or in good faith or otherwise, to comply with the diversification and other qualification requirements specified in Article VI of this Agreement); or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) arise out of or result from any material breach of any representation and/or warranty made by the Fund in this Agreement or arise out of or result from any other material breach of this Agreement by the Fund;

as limited by and in accordance with the provisions of Sections 8.3(b) and 8.3(c) hereof.

8.3(b). The Fund shall not be liable under this indemnification provision with respect to any losses, claims, damages, liabilities or litigation to which an Indemnified Party would otherwise be subject by reason of such Indemnified Party's willful misfeasance, bad faith, or gross negligence in the performance of such Indemnified Party's duties or by reason of such Indemnified Party's reckless disregard of obligations and duties under this Agreement or to the Companies, the Fund, the Underwriter or the Account, whichever is applicable.

8.3(c). The Fund shall not be liable under this indemnification provision with respect to any claim made against an Indemnified Party unless such Indemnified Party shall have notified the Fund in writing within a reasonable time after the summons or other first legal process giving information of the nature of the claim shall have been served upon such Indemnified Party (or after such Indemnified Party shall have received notice of such service on any designated agent), but failure to notify the Fund of any such claim shall not relieve the Fund from any liability which it may have to the Indemnified Party against whom such action is brought otherwise than on account of this indemnification provision. In case any such action is brought against the Indemnified Parties, the Fund will be entitled to participate, at its own expense, in the defense thereof. The Fund also shall be entitled to assume the defense thereof, with counsel satisfactory to the party named in the action. After notice from the Fund to such party of the Fund's election to assume the defense thereof, the Indemnified Party shall bear the fees and expenses of any additional counsel retained by it, and the Fund will not be liable to such party under this Agreement for any legal or other expenses subsequently incurred by such party independently in connection with the defense thereof other than reasonable costs of investigation.

8.3(d). The Companies and the Underwriter agree promptly to notify the Fund of the commencement of any litigation or proceeding against it or any of its respective officers or directors in connection with the Agreement, the issuance or sale of the Contracts, the operation of the Account, or the sale or acquisition of shares of the Fund.

ARTICLE IX. <u>Applicable Law</u>

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.1. This Agreement shall be construed and the provisions hereof interpreted under and in accordance with the laws of the State of California.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.2. This Agreement shall be subject to the provisions of the 1933, 1934 and 1940 Acts, and the rules and regulations and rulings thereunder, including such exemptions from those statutes, rules and regulations as the SEC may grant (including, but not limited to, any Mixed and Shared Funding Exemptive Order) and the terms hereof shall be interpreted and construed in accordance therewith. If, in the future, the Mixed and Shared Funding Exemptive Order should no longer be necessary under applicable law, then Article VII shall no longer apply.

ARTICLE X. <u>Termination</u>

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10.1. This Agreement shall continue in full force and effect until the first to occur of:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) termination by any party, for any reason with respect to some or all Designated Portfolios, by three (3)
months advance written notice delivered to the other parties; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) termination by the Companies by written notice to the Fund and the Underwriter based upon the Companies'
determination that shares of the Fund are not reasonably available to meet the requirements of the Contracts; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) termination by the Companies by written notice to the Fund and the Underwriter in the event any of the
Designated Portfolio's shares are not registered, issued or sold in accordance with applicable state and/or federal law or such law precludes
the use of such shares as the underlying investment media of the Contracts issued or to be issued by the Companies; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) termination by the Fund or Underwriter in the event that formal administrative proceedings are instituted
against the Companies by the NASD, the SEC, the Insurance Commissioner or like official of any state or any other regulatory body regarding
the Companies' duties under this Agreement or related to the sale of the Contracts, the operation of any
Account, or the purchase of the Fund's shares; provided, however, that the Fund or Underwriter determines in its sole judgment exercised
in good faith, that any such administrative proceedings will have a material adverse effect upon the ability of the Companies to perform
their obligations under this Agreement; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) termination by the Companies in the event that formal administrative proceedings are instituted against
the Fund or Underwriter by the NASD, the SEC, or any state securities or insurance department or any other regulatory body; provided,
however, that the Companies determine in their sole judgment exercised in good faith, that any such administrative proceedings will have
a material adverse effect upon the ability of the Fund or Underwriter to perform its obligations under this Agreement; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) termination by the Companies by written notice to the Fund and the Underwriter with respect to any Designated
Portfolio in the event that such Portfolio ceases to qualify as a Regulated Investment Company under Subchapter M or fails to comply with
the Section 817(h) diversification requirements specified in Article VI hereof, or if the Companies reasonably believe that such Portfolio
may fail to so qualify or comply; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g) termination by the Fund or Underwriter by written notice to the Companies in the event that the Contracts
fail to meet the qualifications specified in Article VI hereof; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h) termination by either the Fund or the Underwriter by written notice to the Companies, if either one or
both of the Fund or the Underwriter respectively, shall determine, in their sole judgment exercised in good faith, that the Companies
have suffered a material adverse change in their business, operations, financial condition, or prospects since the date of this Agreement
or are the subject of material adverse publicity; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) termination by the Companies by written notice to the Fund and the Underwriter, if the Companies shall
determine, in their sole judgment exercised in good faith, that the Fund, Adviser, or the Underwriter has suffered a material adverse
change in its business, operations, financial condition or prospects since the date of this Agreement or is the subject of material adverse
publicity; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(j) termination by the Fund or the Underwriter by written notice to the Companies, if the Companies give the
Fund and the Underwriter the written notice specified in Section 1.7(a)(ii) hereof and at the time such notice was given there was no
notice of termination outstanding under any other provision of this Agreement; provided, however, any termination under this Section 10.1(j)
shall be effective forty-five days after the notice specified in Section 1.7(a)(ii) was given; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(k) termination by the Companies upon any substitution of the shares of another investment company or series
thereof for shares of a Designated Portfolio of the Fund in accordance with the terms of the Contracts, provided that the Companies have
given at least 45 days prior written notice to the Fund and Underwriter of the date of substitution; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(l) termination by any party in the event that the Fund's Board of Trustees determines that a material irreconcilable
conflict exists as provided in Article VII.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10.2. Notwithstanding any termination of this Agreement, the Fund and the Underwriter shall, at the option of the Companies, continue to make available additional shares of the Fund pursuant to the terms and conditions of this Agreement, for all Contracts in effect on the effective date of termination of this Agreement (hereinafter referred to as "Existing Contracts"), unless the Underwriter requests that the Companies seek an order pursuant to Section 26(b) of the 1940 Act to permit the substitution of other securities for the shares of the Designated Portfolios. The Underwriter agrees to split the cost of seeking such an order, and the Companies agrees that it shall reasonably cooperate with the Underwriter and seek such an order upon request. Specifically, the owners of the Existing Contracts may be permitted to reallocate investments in the Fund, redeem investments in the Fund and/or invest in the Fund upon the making of additional purchase payments under the Existing Contracts (subject to any such election by the Underwriter). The parties agree that this Section 10.2 shall not apply to any terminations under Article VII and the effect of such Article VII terminations shall be governed by Article VII of this Agreement. The parties further agree that this Section 10.2 shall not apply to any terminations under Section 10.1(g) of this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10.3. The Companies shall not redeem Fund shares attributable to the Contracts (as opposed to Fund shares attributable to the Companies' assets held in the Account) except (i) as necessary to implement Contract owner initiated or approved transactions, (ii) as required by state and/or federal laws or regulations or judicial or other legal precedent of general application (hereinafter referred to as a "Legally Required Redemption"), (iii) upon 45 days prior written notice to the Fund and Underwriter, as permitted by an order of the SEC pursuant to Section 26(b) of the 1940 Act, but only if a substitution of other securities for the shares of the Designated Portfolios is consistent with the terms of the Contracts, or (iv) as permitted under the terms of the Contract. Upon request, the Companies will promptly furnish to the Fund and the Underwriter reasonable assurance that any redemption pursuant to clause (ii) above is a Legally Required Redemption. Furthermore, except in cases where permitted under the terms of the Contacts, the Companies shall not prevent Contract owners from allocating payments to a Portfolio that was otherwise available under the Contracts without first giving the Fund or the Underwriter 45 days notice of its intention to do so.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10.4. Notwithstanding any termination of this Agreement, each party's obligation under Article VIII to indemnify the other parties shall survive.

ARTICLE XI. <u>Notices</u>

Any notice shall be sufficiently given when sent by registered or certified mail to the other party at the address of such party set forth below or at such other address as such party may from time to time specify in writing to the other party.

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;If to the Fund: | PIMCO Variable Insurance Trust |
|  | 840 Newport Center Drive, Suite 300 |
|  | Newport Beach, CA 92660 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;If to the Companies: | Ohio National Financial Services, Inc. |
|  | One Financial Way |
|  | Montgomery, OH 45242 |
|  | or |
|  | National Security Life and Annuity Company |
|  | One Financial Way |
|  | Montgomery, OH 45242 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;If to Underwriter: | PIMCO Funds Distributors LLC |
|  | 2187 Atlantic Street |
|  | Stamford, CT 06902 |

---

ARTICLE Xll. <u>Miscellaneous</u>

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12.1. All persons dealing with the Fund must look solely to the property of the Fund, and in the case of a series company, the respective Designated Portfolios listed on Schedule A hereto as though each such Designated Portfolio had separately contracted with the Companies and the Underwriter for the enforcement of any claims against the Fund. The parties agree that neither the Board, officers, agents or shareholders of the Fund assume any personal liability or responsibility for obligations entered into by or on behalf of the Fund.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12.2. Subject to the requirements of legal process and regulatory authority, each party hereto shall treat as confidential the names and addresses of the owners of the Contracts and all information reasonably identified as confidential in writing by any other party hereto and, except as permitted by this Agreement, shall not disclose, disseminate or utilize such names and addresses and other confidential information without the express written consent of the affected party until such time as such information has come into the public domain.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12.3. The captions in this Agreement are included for convenience of reference only and in no way define or delineate any of the provisions hereof or otherwise affect their construction or effect.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12.4. This Agreement may be executed simultaneously in two or more counterparts, each of which taken together shall constitute one and the same instrument.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12.5. If any provision of this Agreement shall be held or made invalid by a court decision, statute, rule or otherwise, the remainder of the Agreement shall not be affected thereby.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12.6. Each party hereto shall cooperate with each other party and all appropriate governmental authorities (including without limitation the SEC, the NASD, and state insurance regulators) and shall permit such authorities reasonable access to its books and records in connection with any investigation or inquiry relating to this Agreement or the transactions contemplated hereby. Notwithstanding the generality of the foregoing, each party hereto further agrees to furnish the Ohio or New York (as the case may be) Superintendent of Insurance with any information or reports in connection with services provided under this Agreement which such Superintendent may request in order to ascertain whether the variable annuity operations of the Companies are being conducted in a manner consistent with the Ohio or New York, as applicable, variable annuity laws and regulations and any other applicable law or regulations.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12.7. The rights, remedies and obligations contained in this Agreement are cumulative and are in addition to any and all rights, remedies, and obligations, at law or in equity, which the parties hereto are entitled to under state and federal laws.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12.8. This Agreement or any of the rights and obligations hereunder may not be assigned by any party without the prior written consent of all parties hereto.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12.9. The Companies shall furnish, or shall cause to be furnished, to the Fund or its designee copies of the following reports:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) the Companies' annual statement (prepared under statutory accounting principles) and annual report (prepared
under generally accepted accounting principles) filed with any state or federal regulatory body or otherwise made available to the public,
as soon as practicable and in any event within 90 days after the end of each fiscal year; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) any registration statement (without exhibits) and financial reports of the Companies filed with the Securities
and Exchange Commission or any state insurance regulator, as soon as practicable after the filing thereof.

IN WITNESS WHEREOF, each of the parties hereto has caused this Agreement to be executed in its name and on its behalf by its duly authorized representative and its seal to be hereunder affixed hereto as of the date specified below.

THE OHIO NATIONAL LIFE INSURANCE COMPANY:

---

| | |
|:---|:---|
| By its authorized officer | By its authorized officer |
| By: | /s/ John J. Palmer |
| Name: | John J. Palmer |
| Title: | Executive Vice President, Strategic Initiatives |
| Date: |  |

---

OHIO NATIONAL LIFE ASSURANCE CORPORATION:

---

| | |
|:---|:---|
| By its authorized officer | By its authorized officer |
| By: | /s/ John J. Palmer |
| Name: | John J. Palmer |
| Title: | Executive Vice President, Strategic Initiatives |
| Date: |  |

---

NATIONAL SECURITY LIFE AND ANNUITY COMPANY:

---

| | |
|:---|:---|
| By its authorized officer | By its authorized officer |
| By: | /s/ John J. Palmer |
| Name: | John J. Palmer |
| Title: | Chief Executive Officer |
| Date: |  |

---

PIMCO VARIABLE INSURANCE TRUST:

---

| | |
|:---|:---|
| By its authorized officer | By its authorized officer |
| By: | /s/ Jeffrey M. Sargent |
| Name: | Jeffrey M. Sargent |
| Title: | Senior Vice President |
| Date: | June 12, 2002 |

---

PIMCO FUNDS DISTRIBUTORS LLC:

---

| | |
|:---|:---|
| By its authorized officer | By its authorized officer |
| By: | /s/ Newton B. Schott, Jr |
| Name: | Newton B. Schott, Jr |
| Title: | Managing Director |
| Date: | 8/23/02 |

---

Schedule A

**PIMCO Variable Insurance Trust Portfolios:**

Real Return Portfolio

Total Return Portfolio

Global Bond Portfolio

**Segregated Asset Accounts:**

The Ohio National Life Insurance Company:

Ohio National Variable Account A

Ohio National Variable Account B

Ohio National Variable Account C

Ohio National Variable Account D

Ohio National Life Assurance Corporation:

Ohio National Variable Account R

National Security Life and Annuity Company:

Variable Account L

Variable Account N

Dated ________________, 2002.

## Exhibit 99.30

**AMENDED AND RESTATED**

**SERVICE AGREEMENT**

**Between**

**THE OHIO NATIONAL LIFE INSURANCE COMPANY**

**And**

**OHIO NATIONAL LIFE ASSURANCE CORPORATION**

THIS SERVICE AGREEMENT (the "Agreement") is made and entered this 1st day of January, 2019, between The Ohio National Life Insurance Company ("ONLIC"), an Ohio corporation, and Ohio National Ohio National Life Assurance Corporation ("ONLAC"), an Ohio corporation, and supersedes and replaces the Service Agreement entered into by ONLIC and ONLAC on December 1, 1988 and all subsequent amendments thereto.

WHEREAS, the parties desire to have ONLIC perform certain operational and administrative services, and provide equipment and other necessary materials on behalf of ONLAC; and

WHEREAS, the parties desire to properly allocate such expense from the party providing such services and materials (the "Providing Party" or ONLIC) to the party in receipt of such services and materials (the "Receiving Party" or ONLAC).

NOW, THEREFORE, in consideration of the mutual covenants herein contained, which consideration is full and complete, the parties hereto agree as follows:

&nbsp;&nbsp;&nbsp;&nbsp;1.  **<u>SERVICES TO BE PERFORMED</u>** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) ONLIC
shall make available to ONLAC such personnel as may be agreed upon by ONLAC and ONLIC from time to time to provide operational and administrative
services to ONLAC. Such services may include, but is not limited to, the following:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;i. Legal
services concerning ONLAC;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;ii. Auditing
and related services as needed by ONLAC;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;iii. Providing,
developing, and administering computer systems and related data processing services;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;iv. Other
administrative services.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) <u>Management Personnel</u> 

Personnel from the Providing Party pursuant to this Agreement shall report to and be responsible solely to the officers and directors of the Receiving Party or persons designated by them. The Providing Party shall have no responsibility for the actions of its personnel in their performance of services for the Receiving Party pursuant to this agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) <u>Oversight and Monitoring</u> 

ONLAC will maintain oversight for functions provided to ONLAC by ONLIC and will monitor services annually for quality assurance.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) <u>Property of Receiving Party</u> 

All funds and invested assets of ONLAC are the exclusive property of ONLAC, held for the benefit of ONLAC and are subject to the control of ONLAC, unless otherwise approved via a separate intercompany reinsurance agreement(s).

&nbsp;&nbsp;&nbsp;&nbsp;2.  **<u>EQUIPMENT AND OTHER MATERIALS TO BE PROVIDED</u>** 

ONLIC shall provide to ONLAC such equipment and other materials necessary in order for ONLAC to perform its ordinary business functions, which may include but is not limited to, office space, furniture, supplies, utilities, postage, taxes, and any other items as requested and deemed necessary by the parties. Where necessary, parties may enter into additional agreements to address one or more of the costs incurred by the Providing Party on behalf of the Receiving Party. Such agreements shall be considered independent of this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;3.  **<u>CHARGES AND PAYMENTS</u>** 

ONLAC agrees to reimburse ONLIC for direct and indirect costs as may be fairly attributable to the services performed. The cost of such services include but are not limited to an appropriate portion of salaries and other forms of compensation, fringe benefits, general overhead expenses and any other costs which may be fairly allocable to the services provided by ONLIC. The amount payable to ONLIC by ONLAC will be based on an allocation model that is updated at least annually. The allocation model will allocate costs using a direct method, based on allocation percentages at an employee, cost center or department level that are updated at least annually.

&nbsp;&nbsp;&nbsp;&nbsp;4.  **<u>ACCOUNT STATEMENTS</u>** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) <u>Account Statements.</u> ONLIC shall provide monthly account analysis, or as otherwise agreed to by the parties, to show all reasonable and equitable
charges incurred by the Providing Party as a result of providing services to the Receiving Party pursuant to this Agreement. ONLAC reserves
the right to request clarifying documents to support the monthly account analysis, including itemized charge details.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) <u>Payments.</u> As may be agreed by the parties, for purely ministerial reasons, ONLIC may discharge its obligations under this section by making payments
of such expenses to third parties on behalf of ONLAC in accordance with applicable law. ONLAC shall credit the full amounts of such payments
to third parties by ONLIC against any amounts otherwise due and owing under this section. Similarly, any amount owed by ONLIC to ONLAC
for services performed pursuant to this Agreement will be deducted from the total amount due by ONLAC for the applicable measurement
period. Unless otherwise agreed to by the parties, ONLAC shall make payment to ONLIC within a reasonable and timely manner (i.e. thirty
days) of the receipt and approval of the finalized account statement analysis. ONLAC shall not advance any funds to ONLIC, except to
pay for the services described in this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) <u>Quarterly Review.</u> The parties shall meet each quarter, or as otherwise agreed to by the parties, to review the actual cost incurred against
estimated cost charged to the Receiving Party. In the event that there is any discrepancy between the amount charged and the amount actually
incurred by the Providing Party, such difference shall be reflected in the next scheduled account statement, unless parties agree to
an immediate adjustment.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) <u>Disputes Regarding Allocation.</u> In the event of disagreement between ONLIC and ONLAC as to a fair basis for allocating or apportioning costs
for services rendered under this Agreement, such basis shall be determined by an independent public accountant agreed to by the parties.
If such dispute cannot be resolved between the parties, the parties may, at their option, negotiate a settlement related thereto.

&nbsp;&nbsp;&nbsp;&nbsp;5.  **<u>BOOKS AND RECORDS; AUDITS</u>** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) <u>Books and Records.</u> Both parties shall be responsible for maintaining full and accurate books, records and accounts of all charges incurred
pursuant to this Agreement in accordance with all applicable laws and regulations. All such books and records shall remain in the property
of Receiving Party receiving services from the Providing Party, and shall be subject to inspection by any regulator having jurisdiction.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) <u>Audits.</u> The parties and its authorized representatives shall have the right to audit, to examine, and to make copies of or extracts from all
financial and related records relating to or pertaining to this Agreement. Unless otherwise agreed to by the parties, Receiving Party
shall not request more than one audit during any contract year.

&nbsp;&nbsp;&nbsp;&nbsp;6.  **<u>INDEMNIFICATION</u>** 

ONLIC agrees to indemnify ONLAC, and ONLAC agrees to indemnify ONLIC, for any losses, damages, claims, causes of action, fines, or penalties of any nature, including the reimbursement of reasonable attorneys' fees and expenses arising out of or relating in any way to either party's conduct under the terms of this Agreement. Notwithstanding the foregoing, neither party shall be responsible for any incidental, consequential, or special loss or damage, including exemplary and punitive, of any kind or nature, resulting from or arising out of this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;7.  **<u>REPRESENTATIONS AND WARRANTIES</u>** 

ONLIC and ONLAC each represents to the other that it and the below signed officers have full power and authority to enter into this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;8.  **<u>COMPLIANCE WITH LAWS</u>** 

ONLIC and ONLAC each agree to abide by all applicable state and federal laws and regulations, including those of SROs. To the extent required by law, both parties agree to maintain books and records reflecting all expenses and liabilities incurred related to its business, including any and all expenses incurred pursuant to this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;9.  **<u>CONFIDENTIALITY</u>** 

ONLIC and ONLAC agree to preserve the confidentiality of any and all materials and information furnished by either party in connection with this Agreement. This Section shall not apply to any information which is (i) independently developed by the receiving party, provided the receiving party can satisfactorily demonstrate such independent development with appropriate documentation; (ii) known to the receiving party prior to disclosure by the disclosing party; (iii) lawfully disclosed to the receiving party by a third party not under a separate duty of confidentiality with respect thereto to the disclosing party; or (iv) otherwise publicly available through no fault or breach by the receiving party.

ONLIC and ONLAC further agree that all Nonpublic Personal Information obtained in the performance of duties and obligations under this Agreement will not be used for any other purpose except to perform duties set forth under this Agreement. Such information shall not be disclosed to any third party without the express written consent of the affected individual or as may be required by law. ONLIC and ONLAC shall establish procedures to protect the security and confidentiality of such information. "Nonpublic Personal Information" shall mean any information about individual, including financial and health information, that is not publicly available.

&nbsp;&nbsp;&nbsp;&nbsp;10.  **<u>TERMS</u>** 

This Agreement shall continue in effect indefinitely, and may be terminated by either party upon 30 days' written notice to the other party.

&nbsp;&nbsp;&nbsp;&nbsp;11.  **<u>SETTLEMENT ON TERMINATION</u>** 

No later than sixty (60) days after the effective date of termination of this Agreement, or as otherwise agreed in writing by both parties, ONLIC shall deliver to ONLAC detailed written statements for all charges incurred and not included in any previous statements to the effective date of termination. The amounts owed or to be refunded hereunder shall be due and payable within thirty (30) days after receipt of such statements, unless ONLAC provides notice that such amount is disputed.

&nbsp;&nbsp;&nbsp;&nbsp;12.  **<u>ACTION TAKEN PURSUANT TO SUPERVISION, REHABILITATION AND LIQUIDATION ACT</u>** 

If any action is taken against ONLAC pursuant to its supervision, rehabilitation and liquidation act: (i) All of the rights of ONLAC under this Agreement extend to the rehabilitator or the superintendent, and (ii) All books and records will immediately be made available to the rehabilitator or the superintendent immediately upon request.

ONLIC has no automatic right to terminate this Agreement if any action is taken against ONLAC pursuant to its supervision, rehabilitation and liquidation act.

ONLIC will continue to maintain any systems, programs or other infrastructure notwithstanding action being taken against ONLAC pursuant to its supervision, rehabilitation and liquidation act, and will make them available for so long as ONLIC continues to receive timely payment for services rendered.

&nbsp;&nbsp;&nbsp;&nbsp;13.  **<u>NON-ASSIGNABILITY</u>** 

The rights, obligations, duties, and authority under this Agreement are not assignable by the parties, unless expressly agreed to by the parties in writing.

&nbsp;&nbsp;&nbsp;&nbsp;14.  **<u>INDEPENDENT CONTRACTOR</u>** 

For the purposes of this Agreement, ONLIC and ONLAC are deemed to be independent contractors. The personnel of one shall not be deemed to be the employee of the other.

&nbsp;&nbsp;&nbsp;&nbsp;15.  **<u>CHOICE OF LAW</u>** 

This Agreement shall be construed in accordance with the laws (without regard, however, to conflicts of law principles) of the State of Ohio.

&nbsp;&nbsp;&nbsp;&nbsp;16.  **<u>SEVERABILITY</u>** 

Should any provision of this Agreement be held unenforceable, those provisions not affected by the determination of unenforceability shall remain in full force and effect.

&nbsp;&nbsp;&nbsp;&nbsp;17.  **<u>NON-WAIVER</u>** 

The failure of ONLAC or ONLIC to insist on strict compliance with this Agreement, or to exercise any right or remedy under this Agreement, shall not constitute a waiver of any rights.

&nbsp;&nbsp;&nbsp;&nbsp;18.  **<u>ENTIRE AGREEMENT</u>** 

This Agreement, together with any and all addenda, schedules, or exhibits, as may be attached by the parties, constitutes the entire agreement between the parties with respect to the subject matter hereof so supersedes all previous proposals, negotiations, representations, commitments, writings and all other communications between the parties, both oral and written. In the event of any conflict between this Agreement and any other prior agreements or understandings, the terms of this Agreement shall control.

&nbsp;&nbsp;&nbsp;&nbsp;19.  **<u>AMENDMENT</u>** 

This Agreement may be amended, modified, or supplemented at any time by mutual consent of all parties; provided, however, that any such amendment, modification or supplement must be in writing, executed by all parties, and approved by the appropriate regulatory authorities, if applicable.

&nbsp;&nbsp;&nbsp;&nbsp;20.  **<u>SECTION HEADINGS</u>** 

Section headings contained herein are for reference purposes only and shall not affect the meaning or interpretation of this Agreement.

**IN WITNESS WHEREOF,** the parties hereto have delivered and executed this Agreement to be effective as of the date first above written.

---

| | |
|:---|:---|
| **THE OHIO NATIONAL LIFE INSURANCE COMPANY** | **THE OHIO NATIONAL LIFE INSURANCE COMPANY** |
| BY: | /s/ David E. Spaulding |
| *Name:* | *David E. Spaulding* |
| *Title:* | Vice President, Financial Reporting |
| **OHIO NATIONAL LIFE ASSURANCE CORPORATION** | **OHIO NATIONAL LIFE ASSURANCE CORPORATION** |
| BY: | /s/ William C. Price |
| Name: | William C. Price |
| Title: | SUP & Assistant General Counsel |

---

Service Agrmt – ONLIC-ONLAC

## Exhibit 99.30

**Privileged & Confidential**

**AGREEMENT AND PLAN OF MERGER**

This AGREEMENT AND PLAN OF MERGER (this "<u>Agreement</u>"), dated as of the 17th day of July, 2025, between AuguStar Life Insurance Company ("<u>ALIC</u>"), a stock life insurance company organized under the laws of Ohio, and AuguStar Life Assurance Corporation ("<u>ALAC</u>"), a stock life insurance company organized under the laws of Ohio.

**<u>W</u> <u>I</u> <u>T</u> <u>N</u> <u>E</u> <u>S</u> <u>S</u> <u>E</u> <u>T</u> <u>H</u>:**

WHEREAS, ALIC and ALAC have determined that it would be in their respective best interests and the best interests of their respective shareholders to effect the transactions contemplated by this Agreement at the Effective Time, as defined in Section 1(b) hereof;

WHEREAS, in furtherance thereof, the respective Boards of Directors and the sole shareholders of each of ALIC and ALAC have duly approved the merger of ALAC, including its separate accounts, with and into ALIC upon the terms and subject to the conditions of this Agreement (the "<u>Merger</u>");

WHEREAS, throughout the period beginning on the date this Agreement was adopted and ending on the Effective Time, ALIC owned 100% of the ALAC's capital stock;

WHEREAS, prior to the Effective Time of the Merger, ALIC and ALAC will adopt this Agreement for U.S. federal income tax purposes, and the Merger shall occur pursuant to this Agreement;

WHEREAS, ALAC will not dispose of any of its assets in contemplation of the Merger, except for dispositions in the ordinary course of business;

WHEREAS, ALIC and ALAC's shareholders and ultimate beneficial owners will not make capital contributions to ALAC in anticipation of, in conjunction with, or in any way related to, the Merger; and

WHEREAS, the Merger will neither be preceded nor followed by the reincorporation in, or transfer or sale to, a recipient corporation, of any of the business or assets of ALAC. For purposes of this representation, a reincorporation encompasses any circumstance in which any of the businesses or assets of ALAC are treated for US federal income tax purposes as held by a corporation other than ALAC (or a successor thereof).

NOW, THEREFORE, in order to effect the transactions contemplated by this Agreement and in consideration of the premises and the mutual covenants and agreements herein contained, the parties agree as follows:

Section 1. <u>The Merger</u>. (a) Upon the terms and subject to the conditions of this Agreement, at the Effective Time (as defined below) and in accordance with the provisions of this Agreement and Chapter 1701 of the Ohio General Corporation Law (the "<u>OHGCL</u>") and the Ohio Insurance Code (the "<u>OHIC</u>", and together with the OHGCL, the "<u>OHGCLIC</u>"), ALAC together with its separate account, Variable Account R, shall be merged with and into ALIC in accordance with the OHGCLIC, and the separate existence of ALAC shall thereupon cease, and ALIC, which shall be and which is hereinafter sometimes referred to as the "<u>Surviving Company</u>," shall continue its corporate existence under the laws of the State of Ohio under the name "AuguStar Life Insurance Company."

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) As soon as is practicable after the satisfaction or, if permitted, waiver of the conditions set forth in Section 3 hereof, the parties hereto shall cause the Merger to be consummated by filing a Certificate of Merger with the Ohio Secretary of State (the "Certificate of Merger") in accordance with the provisions of the OHGCL and such other documents in such form as required by, and executed and acknowledged in accordance with, the relevant provisions of the OHGCLIC. The Merger shall become effective on December 31, 2025 (the "<u>Effective Time</u>").

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) From and after the Effective Time, the Merger shall have all of the effects set forth in the OHGCLIC. Without limiting the generality of the foregoing, and subject thereto, by virtue of the Merger and in accordance with the OHGCLIC, all of the assets (including investment assets and trusts), properties (including intellectual property and intangibles), credits, systems, operations, accounts (including any separate accounts and bank accounts), benefit plans, rights, privileges, immunities, powers, franchises, contracts, reinsurance treaties, insurance contracts, and authorities of ALIC and ALAC shall vest in the Surviving Company and all of the debts, obligations, liabilities and duties of ALIC and ALAC shall become the debts, obligations, liabilities and duties of the Surviving Company. All policies of insurance issued by either ALIC or ALAC shall, as of the Effective Time, become policies of insurance of the Surviving Company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) The Articles of Incorporation in the form attached hereto as <u>Exhibit A</u> shall be the Articles of Incorporation of the Surviving Company from and after the Effective Time until thereafter amended in accordance with the provisions thereof and the OHGCLIC.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) The Code of Regulations in the form attached hereto as <u>Exhibit B</u> shall be the Code of Regulations of the Surviving Company from and after the Effective Time until altered, amended or repealed as provided therein or in the Articles of Incorporation of the Surviving Company and the OHGCLIC.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) As of the Effective Time, the Board of Directors and the officers of the Surviving Company shall be the then serving directors and officers of ALIC, to serve until the earlier of the resignation or removal of any such individual or until their respective successors are duly elected and qualified, as the case may be.

Section 2. <u>Treatment of Shares</u>. (a) Each issued and outstanding share of the capital stock of ALIC, ten million (10,000,000) common shares with a par value of one dollar ($1.00 USD) each, shall not be affected by the Merger and shall continue to be outstanding at and after the Effective Time without any change and shall continue as a share of the Surviving Corporation.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) ALAC did not issue any additional shares of ALAC's stock, and did not redeem or reacquire any shares of ALAC's stock, in contemplation of the Merger.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) At the Effective Time, all outstanding shares of the capital stock of ALAC shall be cancelled without consideration and retired and shall cease to exist.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) ALIC did not sell, exchange or otherwise dispose of any shares of ALAC's stock.

Section 3. <u>Conditions Precedent to Merger</u>. The respective obligations of ALIC and ALAC to effect the Merger shall be subject to the satisfaction of the following conditions:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) All consents, authorizations, orders and approvals of (or filings or registrations with) any governmental authority including, but not limited to, approvals to be obtained from the Superintendent of the Ohio Department of Insurance with respect to the Merger, required in connection with the execution, delivery and performance of this Agreement shall have been obtained.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) The parties represent that all authorizations, consents, waivers and approvals from parties to contracts or other agreements to which ALIC or ALAC is a party were duly obtained by them in connection with the performance of this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) No court, agency or other authority shall have issued any order, decree or judgment to set aside, restrain, enjoin or prevent the Merger and no statute, rule, regulation, executive order, decree or injunction shall have been enacted, promulgated or enforced by any United States court or governmental authority of competent jurisdiction which prohibits the consummation of the Merger.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) The parties represent that there is no litigation or legal procedure pending which would prohibit or in any way restrict the consummation of the Merger, or alter the effect thereof.

Section 4. <u>Further Assurances</u>. From time to time, as and when requested by ALIC, ALAC shall execute and deliver or cause to be executed and delivered all such other instruments, and shall take or cause to be taken all such further or other actions, as ALIC may deem necessary or desirable in order to vest in and confirm to the Surviving Company and its successors and assigns, title to and possession of all the properties, rights, privileges, powers and franchises referred to in Section 1(c) hereof and otherwise to carry out the intent and purposes of this Agreement. From time to time, as and when necessary, the Surviving Company shall execute and deliver or cause to be executed and delivered all such other instruments, and shall take or cause to be taken all such further or other actions, as are necessary or desirable in order to assume or otherwise comply with the outstanding debts, liabilities, duties or other obligations of ALAC.

Section 5. <u>Governing Law</u>. THIS AGREEMENT SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF OHIO WITHOUT REGARD TO PRINCIPLES OF CONFLICTS OF LAWS.

Section 6. <u>No Third Party Beneficiaries</u>. This Agreement is not intended to confer upon any person other than the parties hereto any rights or remedies hereunder.

Section 7. <u>Amendments</u>. At any time prior to the Effective Time, this Agreement may be amended in matters of form or substance, or supplemented by additional agreements, articles or certificates, to the extent permitted by the OHGCLIC and any other applicable governmental authority, as may be determined in the judgment of the Boards of Directors of ALIC and ALAC to be necessary, desirable or expedient to clarify the intention of the parties hereto or to effect or facilitate the filing, recording or official approval of this Agreement and the consummation hereof and the Merger provided for herein, in accordance with the purpose and intent of this Agreement.

Section 8. <u>Termination and Abandonment</u>. At any time prior to the Effective Time, the Boards of Directors of ALIC and ALAC may cause the Merger and the transactions contemplated by this Agreement to be abandoned or delayed if such Boards of Directors determine that such abandonment or delay would be in the best interests of ALIC and ALAC and their respective shareholders. In the event of the termination and abandonment of this Agreement and the Merger pursuant to the preceding sentence, this Agreement shall become void and have no effect, without any liability on the part of either of ALIC or ALAC or their shareholders, directors or officers in respect thereof.

Section 9. <u>Combined Information Reporting</u>. Subsequent to the Effective Time, ALAC is required under provisions of the Internal Revenue Code of 1986, as amended, to file certain forms in the series 1098, 1099, and 5498, or any other forms required by law, for reportable transactions occurring in the acquisition year of the Effective Time. ALAC and ALIC agree that the Surviving Company will assume ALAC's entire information reporting obligations for those forms in the series 1098, 1099, and 5498, or any other forms required by law. The parties agree to comply with the requirements of the alternative procedure described in Rev. Proc. 99-50, or any relevant Internal Revenue Service ("<u>IRS</u>") guidance. ALAC will be relieved of its information reporting obligations for reportable transactions occurring in the acquisition year of the Effective Time only if and to the extent that this Agreement meets, and ALIC satisfies, each of the requirements of Rev. Proc. 99-50, or any relevant IRS guidance.

Section 10. <u>Interpretation; Descriptive Headings</u>. (a) For purposes of this Agreement, the words "hereof," "herein" and other words of similar import refer to this Agreement as a whole unless otherwise indicated. Whenever the singular is used herein, the same shall include the plural, and whenever the plural is used herein, the same shall include the singular, where appropriate.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) The descriptive headings herein are inserted for convenience of reference only and are not intended to be part of or affect the meaning or interpretation of this Agreement.

Section 11. <u>Counterparts</u>. This Agreement may be executed by the parties thereto in separate counterparts, each of which when so executed and delivered shall be an original, but all such counterparts shall together constitute one and the same instrument.

Section 12. <u>Expenses</u>. In the event that the Merger is not effectuated, each of ALIC or ALAC shall be responsible for all expenses in respect of this Agreement incurred by or attributable to it.

Section 13. <u>Federal Income Tax Treatment.</u> The Merger is intended to qualify for nonrecognition treatment to ALIC and ALAC for US federal income tax purposes, pursuant to Sections 332 and 337 of the Internal Revenue Code of 1986, as amended.

IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be executed by their respective duly authorized officers as of the date first above written.

---

| | |
|:---|:---|
| **AuguStar Life Insurance Company** | **AuguStar Life Insurance Company** |
| By: | /s/ Clifford J. Jack |
| Name: | Clifford J. Jack |
| Title: | President and Chief Executive Officer |

---

---

| | |
|:---|:---|
| ATTEST: | ATTEST: |
| By: | /s/ Manda Ghaferi |
| Name: | Manda Ghaferi |
| Title: | General Counsel |

---

---

| | |
|:---|:---|
| **AuguStar Life Assurance Corporation** | **AuguStar Life Assurance Corporation** |
| By: | /s/ Anurag Chandra |
| Name: | Anurag Chandra |
| Title: | President, Chairman and CEO |

---

---

| | |
|:---|:---|
| ATTEST: | ATTEST: |
| By: | /s/ Richard C. Brooks, Jr. |
| Name: | Richard C. Brooks, Jr. |
| Title: | General Counsel |

---

## Exhibit 99.30

---

| |
|:---|
| **Manda Ghaferi** |
| **General Counsel** |
| Direct Line: (310) 433-5690 |
| E-mail: Manda_Ghaferi@augustarfinancial.com |
| AuguStar |
| One Financial Way, |
| Montgomery, Ohio 45242 |

---

**<u>VIA EDGAR & E-MAIL</u>**

December 31, 2025

U.S. Securities and Exchange Commission

Division of Investment Management

100 F. Street, NE

Washington, DC 20549

Dear Madam/Sir:

Referring to this Registration Statement on behalf of AuguStar Variable Account R ("Separate Account") and the Registration Statement on Form N-6 filed December 31, 2025 (the "Registration Statements") on behalf of the Separate Account and having examined and being familiar with the Articles of Incorporation and By-Laws of AuguStar Life Insurance Company ("ALIC"), the applicable resolutions relating to the Separate Account and other pertinent records and documents, I am of the opinion that:

&nbsp;&nbsp;&nbsp;&nbsp;1. ALIC is a duly organized and existing stock life insurance company under the laws of the State of Ohio;

&nbsp;&nbsp;&nbsp;&nbsp;2. The Separate Account is a duly organized and existing separate account of ALIC;

&nbsp;&nbsp;&nbsp;&nbsp;3. Assets allocated to the Separate Account are owned by ALIC and ALIC is not a trustee with respect thereto. The variable life insurance
policies provide that the portion of the assets of the Separate Account equal to the reserves and other variable life insurance policy
liabilities with respect to the Separate Account will not be chargeable with the liabilities arising out of any other business ALIC may
conduct. ALIC reserves the right to transfer assets of the Separate Account in excess of such reserves and other liabilities to the general
account of ALIC.

&nbsp;&nbsp;&nbsp;&nbsp;4. The variable life insurance policies being registered by the Registration Statement will, upon sale thereof, be duly authorized and
constitute validly issued and binding obligations of ALIC in accordance with their terms, except as enforceability may be limited by bankruptcy,
insolvency, reorganization or similar laws affecting the rights of creditors generally.

I hereby consent to the filing of this opinion with the Securities and Exchange Commission as an exhibit to the Registration Statement.

Very truly yours,

---

| |
|:---|
| /s/ Manda Ghaferi |
| Manda Ghaferi |

---

## Exhibit 99.30

---

| | |
|:---|:---|
| ![](fp0096724-3_01.jpg) | <br>KPMG LLP<br> Suite 500<br> 191 West Nationwide Blvd.<br> Columbus, OH 43215-2568 |

---

**Consent of Independent Registered Public Accounting Firm**

We consent to the use of our report dated April 11, 2025, with respect to the statutory financial statements and financial statement schedules of AuguStar Life Insurance Company, incorporated herein by reference, and to the reference to our firm under the heading "Independent Registered Public Accounting Firm" in the Statement of Additional Information that was previously filed under SEC File No. 333-40636 and is incorporated by reference herein.

![](fp0096724-3_02.jpg)

Columbus, Ohio

December 23, 2025

KPMG LLP, a Delaware limited liability partnership and a member firm of the KPMG global organization of independent member firms affiliated with KPMG International Limited, a private English company limited by guarantee.

---

| | |
|:---|:---|
| ![](fp0096724-3_01.jpg) | <br>KPMG LLP<br> Suite 500<br> 191 West Nationwide Blvd.<br> Columbus, OH 43215-2568 |

---

**Consent of Independent Registered Public Accounting Firm**

We consent to the use of our report dated April 11, 2025, with respect to the statutory financial statements and financial statement schedules of AuguStar Life Assurance Corporation, incorporated herein by reference, and to the reference to our firm under the heading "Independent Registered Public Accounting Firm" in the Statement of Additional Information that was previously filed under SEC File No. 333-40636 and is incorporated by reference herein.

![](fp0096724-3_02.jpg)

Columbus, Ohio

December 23, 2025

KPMG LLP, a Delaware limited liability partnership and a member firm of the KPMG global organization of independent member firms affiliated with KPMG International Limited, a private English company limited by guarantee.

---

| | |
|:---|:---|
| ![](fp0096724-3_01.jpg) | <br>KPMG LLP<br> Suite 500<br> 191 West Nationwide Blvd.<br> Columbus, OH 43215-2568 |

---

**Consent of Independent Registered Public Accounting Firm**

We consent to the use of our report dated April 8, 2025, with respect to the financial statements of the sub-accounts that comprise AuguStar® Variable Account R, and the related notes (collectively, the financial statements), incorporated herein by reference, and to the reference to our firm under the heading "Independent Registered Public Accounting Firm" in the Statement of Additional Information that was previously filed under SEC File No. 333-40636 and is incorporated by reference herein.

![](fp0096724-3_02.jpg)

Columbus, Ohio

December 23, 2025

KPMG LLP, a Delaware limited liability partnership and a member firm of the KPMG global organization of independent member firms affiliated with KPMG International Limited, a private English company limited by guarantee.

## Exhibit 99.30

**POWERS OF ATTORNEY**

KNOW ALL PERSONS BY THESE PRESENTS, that the person whose signature appears below hereby constitutes and appoints MANDA GHAFERI and MICHEL JOO, or each of them, as their true and lawful attorneys-in-fact and agents, with full power of substitution and resubstitution, for them and in their name, place and stead, in all capacities, to sign any and all initial registration statements, amendments (including pre-and post-effective amendments) to the registration statements for the variable life insurance policies listed below, for which AUGUSTAR LIFE INSURANCE COMPANY serves as Depositor or is Registrant, and to file the same, with all exhibits thereto, and other documents in connection therewith, as fully to all intents as they might or could do in person, including specifically, but without limiting the generality of the foregoing, to (i) take any action to comply with any rules, regulations or requirements of the Securities and Exchange Commission under the federal securities laws; (ii) make application for and secure any exemptions from the federal securities laws; or (iii) register additional variable life insurance policies under the federal securities laws, if registration is deemed necessary. The undersigned hereby ratifies and confirms all that said attorneys-in-fact and agents, or any of them, or their substitutes, shall do or cause to be done by virtue thereof.

<u>Registrant</u>: AuguStar Variable Account R (811-4320)

---

| | |
|:---|:---|
| <u>Product</u> | <u>1933 Act No</u> |
| GP VUL | TBD |
| Vari-Vest I | TBD |
| Vari-Vest II | TBD |
| Vari-Vest III | TBD |
| Vari-Vest IV | TBD |
| Vari-Vest V | TBD |
| Vari-Vest Asset Builder | TBD |
| Vari-Vest Survivor | TBD |
| Virtus VUL | TBD |

---

---

| | | |
|:---|:---|:---|
| **<u>Signature</u>** | **<u>Title</u>** | **<u>Date</u>** |
| /s/ Anurag Chandra | Director, Chairman of the Board | 12/22/2025 |
| Anurag Chandra |  |  |
| /s/ Philippe Charette | Director | 12/23/2025 |
| Philippe Charette |  |  |
| /s/ Patricia Guinn | Director | 12/23/2025 |
| Patricia Guinn |  |  |
| /s/ Wes Thompson | Director | 12/24/2025 |
| Wes Thompson |  |  |
| /s/ Steven C. Verney | Director | 12/23/2025 |
| Steven C. Verney |  |  |
| /s/ Lori Dashewich | Senior Vice President, Chief Financial Officer | 12/23/2025 |
| Lori Dashewich | (Principal Accounting Officer and Principal Financial Officer) |  |

---