# EDGAR Filing Document

**Accession Number:** 0001018042
**File Stem:** 0001193125-26-152557
**Filing Date:** 2026-4
**Character Count:** 1467717
**Document Hash:** b3b563a3e439bc59da652f30ebe5383a
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001193125-26-152557.hdr.sgml**: 20260413

**ACCESSION NUMBER**: 0001193125-26-152557

**CONFORMED SUBMISSION TYPE**: 485BPOS

**PUBLIC DOCUMENT COUNT**: 10

**FILED AS OF DATE**: 20260413

**DATE AS OF CHANGE**: 20260413

**EFFECTIVENESS DATE**: 20260501

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** CORPORATE SPONSORED VUL SEPARATE ACCOUNT I
- **CENTRAL INDEX KEY:** 0001018042

**ORGANIZATION NAME:**
- **EIN:** 133044743
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 485BPOS
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-07697
- **FILM NUMBER:** 26857347

**BUSINESS ADDRESS:**
- **STREET 1:** 51 MADISON AVENUE, ROOM 10SB
- **STREET 2:** ATTENTION: LARRY ROONEY
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10010
- **BUSINESS PHONE:** (212) 576-6822

**MAIL ADDRESS:**
- **STREET 1:** 51 MADISON AVENUE, ROOM 10SB
- **STREET 2:** ATTENTION: LARRY ROONEY
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10010
**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** CORPORATE SPONSORED VUL SEPARATE ACCOUNT I
- **CENTRAL INDEX KEY:** 0001018042

**ORGANIZATION NAME:**
- **EIN:** 133044743
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 485BPOS
- **SEC ACT:** 1933 Act
- **SEC FILE NUMBER:** 333-48300
- **FILM NUMBER:** 26857346

**BUSINESS ADDRESS:**
- **STREET 1:** 51 MADISON AVENUE, ROOM 10SB
- **STREET 2:** ATTENTION: LARRY ROONEY
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10010
- **BUSINESS PHONE:** (212) 576-6822

**MAIL ADDRESS:**
- **STREET 1:** 51 MADISON AVENUE, ROOM 10SB
- **STREET 2:** ATTENTION: LARRY ROONEY
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10010

## Series and Classes Contracts Data

### CORPORATE SPONSORED VUL SEPARATE ACCOUNT I (Series ID: S000009387)

| Class ID   | Class Name                                                       | Ticker Symbol   |
|:---|:---|:---|
| C000025718 | CorpExec VUL: Corporate Executive Series Variable Universal Life |  |

Registration filing date:

Registration No. 333-48300

April 13, 2026

811-07697

------

**SECURITIES AND EXCHANGE COMMISSION** 

**Washington, D.C.**

------

---

| | |
|:---|:---|
| **Form N-6** |  |
| **REGISTRATION STATEMENT** |  |
| ***UNDER***<br> ***THE SECURITIES ACT OF 1933***<br>|  |
| **Post-Effective Amendment No. 46** | ☒  |
| **and** |  |
| **REGISTRATION STATEMENT** |  |
| ***UNDER***<br> ***THE INVESTMENT COMPANY ACT OF 1940***<br>|  |
| **Amendment No. 90** | ☒  |

---

------

**CORPORATE SPONSORED VUL SEPARATE ACCOUNT I** 

**(Exact Name of Registrant)**

------

**NEW YORK LIFE INSURANCE AND** <br>**ANNUITY CORPORATION** 

(Name of Depositor)

**51 Madison Avenue** <br>**New York, New York 10010** 

(Address of Depositor's Principal Executive Office)

**Depositor's Telephone Number: (212) 576-7000** 

**Charles F. Furtado, Jr., Esq.** <br>**New York Life Insurance and Annuity Corporation** <br>**51 Madison Avenue** <br>**New York, NY 10010** 

(Name and Address of Agent for Service)

------

**Copy to: Charles A. Whites, Jr., Esq.** <br>**Vice President and Associate General Counsel** <br> **New York Life Insurance Company** <br>**51 Madison Avenue** <br>**New York, NY 10010**

------

---

| | |
|:---|:---|
| Approximate Date of Proposed Public Offering: Continuous | Approximate Date of Proposed Public Offering: Continuous |
| It is proposed that this filing will become effective: | It is proposed that this filing will become effective: |
| ☐  | immediately upon filing pursuant to paragraph (b) of Rule 485 |
| ☒  | on May 1, 2026 pursuant to paragraph (b) of Rule 485 |
| ☐  | 60 days after filing pursuant to paragraph (a)(1) of Rule 485 |
| ☐  | on (date) pursuant to paragraph (a)(1) of Rule 485 |
| If appropriate, check the following box: | If appropriate, check the following box: |
| ☐  | This post-effective amendment designates a new date for a previously filed post-effective amendment. |

---

------

**New York Life Insurance and Annuity Corporation** 

**CorpExec VUL II-V** 

**Corporate Executive Series Variable Universal Life** 

**Prospectus—May 1, 2026**

**A flexible premium corporate sponsored variable universal life insurance policy offered to individuals under New York Life Insurance and Annuity Corporation ("NYLIAC")** 

**Corporate Sponsored Variable Universal Life Separate Account-I** 

Please use the following address to send policy premium payments and service Requests to us:

**Service Office:** 

**New York Life Insurance and Annuity Corporation** <br>**NYLIFE Distributors, LLC** <br>**Attention: New York Life Institutional Life** <br>**6130 Sprint Parkway, Suite 400** <br>**Overland Park, KS 66211** <br>**Telephone: (888) 695-4748** <br>**Fax: (913) 906-4129** <br>**E-mail: NYLAMN_Service@newyorklife.com**

This prospectus describes the four-policy series of the NYLIAC Corporate Executive Series Variable Universal Life Insurance Policies: CorpExec VUL II, CorpExec VUL III, CorpExec VUL IV, and CorpExec VUL V (the "Policy"). New Policies under this four-policy series are no longer offered for sale. Unless otherwise indicated, all information in this Prospectus pertains to all Policies. In this prospectus, the words, "we," "our," or "us" refer to NYLIAC and the words "you" or "your" refer to the policyowner. The prospectus contains all material variations to the statements about the Polices, including all material state variations to the Policies.

The Securities and Exchange Commission (SEC) has not approved or disapproved of these securities or passed upon the accuracy or adequacy of this Prospectus. Any representation to the contrary is a criminal offense. Policies have risks including risk of loss of the amount invested. Policies are not deposits of, or guaranteed or endorsed by, any bank and are not federally insured by the FDIC, Federal Reserve Board, or any other agency.

This life insurance Policy is not considered an offering in any jurisdiction where such an offering may not be lawfully made. We do not authorize any information or representations regarding the offering described in this Prospectus and the Statement of Additional Information ("SAI") other than as contained in these materials or any attached supplements to them or in any supplemental sales material we authorize.

The Policies are very complex investment and life insurance products. This Prospectus is designed to provide policyowners with information about the Policy. NYLIAC encourages policyowners to carefully evaluate and understand the Policy and its potential benefits and risks. Additional information about certain investment products, including variable life insurance, has been prepared by the SEC and is available at www.investor.gov.

The purpose of this Policy is to provide a Life Insurance Benefit to the beneficiary named by the policyowner.

**The Policy may decrease in value, even to the point of having no value, because of both the charges imposed and poor investment performance. The entire amount invested in the Policy could be lost.**

------

**Table of Contents** 

---

| | |
|:---|:---|
|  | **Page** |
| **[Definitions](#xx_d0344675-f8be-4b43-89ba-d12d8fbd0e4d_1)** | &nbsp;&nbsp; 1 |
| **[Important Information You Should Consider](#xx_ca852ca5-6fb6-4f1b-9ff7-f8da247b52cf_1)**<br> **[About the Policy](#xx_ca852ca5-6fb6-4f1b-9ff7-f8da247b52cf_1)**<br>| &nbsp;&nbsp; 5 |
| &nbsp;&nbsp;&nbsp;&nbsp; [Fees and Expenses](#xx_ca852ca5-6fb6-4f1b-9ff7-f8da247b52cf_1) | &nbsp;&nbsp; 5 |
| &nbsp;&nbsp;&nbsp;&nbsp; [Risks](#xx_ca852ca5-6fb6-4f1b-9ff7-f8da247b52cf_2) | &nbsp;&nbsp; 6 |
| &nbsp;&nbsp;&nbsp;&nbsp; [Restrictions](#xx_ca852ca5-6fb6-4f1b-9ff7-f8da247b52cf_4) | &nbsp;&nbsp; 8 |
| &nbsp;&nbsp;&nbsp;&nbsp; [Taxes](#xx_ca852ca5-6fb6-4f1b-9ff7-f8da247b52cf_4) | &nbsp;&nbsp; 8 |
| &nbsp;&nbsp;&nbsp;&nbsp; [Conflicts of Interest](#xx_ca852ca5-6fb6-4f1b-9ff7-f8da247b52cf_6) | &nbsp;&nbsp; 10 |
| **[Overview of the Policy](#xx_ca3f25c2-8956-48b5-949a-1d386684445c_1)** | &nbsp;&nbsp; 11 |
| **[Table of Fees and Expenses](#xx_f9598875-3132-43cd-8ee8-e53f8a4a7873_1)** | &nbsp;&nbsp; 14 |
| &nbsp;&nbsp;&nbsp;&nbsp; [Transaction Fees](#xx_f9598875-3132-43cd-8ee8-e53f8a4a7873_1) | &nbsp;&nbsp; 14 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [Periodic Charges Other Than Eligible](#xx_f9598875-3132-43cd-8ee8-e53f8a4a7873_4)<br> [Portfolios' Operating Expenses](#xx_f9598875-3132-43cd-8ee8-e53f8a4a7873_4)<br>| &nbsp;&nbsp; 17 |
| &nbsp;&nbsp;&nbsp;&nbsp; [Annual Eligible Portfolio Expenses](#xx_f9598875-3132-43cd-8ee8-e53f8a4a7873_8) | &nbsp;&nbsp; 21 |
| **[Summary of Principal Risks of Investment In](#xx_8728b984-d9b1-44b6-b1f3-ab389b1de7e0_1)**<br> **[the Policy](#xx_8728b984-d9b1-44b6-b1f3-ab389b1de7e0_1)**<br>| &nbsp;&nbsp; 22 |
| &nbsp;&nbsp;&nbsp;&nbsp; [Investment Risk](#xx_8728b984-d9b1-44b6-b1f3-ab389b1de7e0_1) | &nbsp;&nbsp; 22 |
| &nbsp;&nbsp;&nbsp;&nbsp; [Not a Short-Term Investment](#xx_8728b984-d9b1-44b6-b1f3-ab389b1de7e0_1) | &nbsp;&nbsp; 22 |
| &nbsp;&nbsp;&nbsp;&nbsp; [Portfolio Risks](#xx_8728b984-d9b1-44b6-b1f3-ab389b1de7e0_1) | &nbsp;&nbsp; 22 |
| &nbsp;&nbsp;&nbsp;&nbsp; [Risk of Termination](#xx_8728b984-d9b1-44b6-b1f3-ab389b1de7e0_1) | &nbsp;&nbsp; 22 |
| &nbsp;&nbsp;&nbsp;&nbsp; [Risk of Termination from Policy Loans](#xx_8728b984-d9b1-44b6-b1f3-ab389b1de7e0_2) | &nbsp;&nbsp; 23 |
| &nbsp;&nbsp;&nbsp;&nbsp; [Term Rider Risks](#xx_8728b984-d9b1-44b6-b1f3-ab389b1de7e0_2) | &nbsp;&nbsp; 23 |
| &nbsp;&nbsp;&nbsp;&nbsp; [Tax Risks](#xx_8728b984-d9b1-44b6-b1f3-ab389b1de7e0_3) | &nbsp;&nbsp; 24 |
| &nbsp;&nbsp;&nbsp;&nbsp; [Potential for Increased Charges](#xx_8728b984-d9b1-44b6-b1f3-ab389b1de7e0_3) | &nbsp;&nbsp; 24 |
| &nbsp;&nbsp;&nbsp;&nbsp; [Potentially Harmful Transfer Activity](#xx_8728b984-d9b1-44b6-b1f3-ab389b1de7e0_3) | &nbsp;&nbsp; 24 |
| &nbsp;&nbsp;&nbsp;&nbsp; [Credit Risk](#xx_8728b984-d9b1-44b6-b1f3-ab389b1de7e0_3) | &nbsp;&nbsp; 24 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [Risks Affecting our Administration of Your](#xx_8728b984-d9b1-44b6-b1f3-ab389b1de7e0_4)<br> [Policy](#xx_8728b984-d9b1-44b6-b1f3-ab389b1de7e0_4)<br>| &nbsp;&nbsp; 25 |
| **[Management and Organization](#xx_6e70151c-7e96-4212-aba5-4000223a9df0_1)** | &nbsp;&nbsp; 26 |
| &nbsp;&nbsp;&nbsp;&nbsp; [Your Policy](#xx_6e70151c-7e96-4212-aba5-4000223a9df0_1) | &nbsp;&nbsp; 26 |
| &nbsp;&nbsp;&nbsp;&nbsp; [About the Separate Account](#xx_6e70151c-7e96-4212-aba5-4000223a9df0_1) | &nbsp;&nbsp; 26 |
| &nbsp;&nbsp;&nbsp;&nbsp; [Our Rights](#xx_6e70151c-7e96-4212-aba5-4000223a9df0_2) | &nbsp;&nbsp; 27 |
| &nbsp;&nbsp;&nbsp;&nbsp; [The Fixed Account](#xx_6e70151c-7e96-4212-aba5-4000223a9df0_2) | &nbsp;&nbsp; 27 |
| &nbsp;&nbsp;&nbsp;&nbsp; [Interest Crediting](#xx_6e70151c-7e96-4212-aba5-4000223a9df0_2) | &nbsp;&nbsp; 27 |
| &nbsp;&nbsp;&nbsp;&nbsp; [How to Reach Us for Policy Services](#xx_6e70151c-7e96-4212-aba5-4000223a9df0_3) | &nbsp;&nbsp; 28 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [Information Systems Failures and](#xx_6e70151c-7e96-4212-aba5-4000223a9df0_4)<br> [Cybersecurity Risks](#xx_6e70151c-7e96-4212-aba5-4000223a9df0_4)<br>| &nbsp;&nbsp; 29 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [Risks From Serious Infectious Disease](#xx_6e70151c-7e96-4212-aba5-4000223a9df0_4)<br> [Outbreaks](#xx_6e70151c-7e96-4212-aba5-4000223a9df0_4)<br>| &nbsp;&nbsp; 29 |
| &nbsp;&nbsp;&nbsp;&nbsp; [Funds and Eligible Portfolios](#xx_6e70151c-7e96-4212-aba5-4000223a9df0_5) | &nbsp;&nbsp; 30 |
| &nbsp;&nbsp;&nbsp;&nbsp; [Money Market Fund Fees and Gates](#xx_6e70151c-7e96-4212-aba5-4000223a9df0_7) | &nbsp;&nbsp; 32 |
| &nbsp;&nbsp;&nbsp;&nbsp; [Reinvestment](#xx_6e70151c-7e96-4212-aba5-4000223a9df0_7) | &nbsp;&nbsp; 32 |
| &nbsp;&nbsp;&nbsp;&nbsp; [Investment Return](#xx_6e70151c-7e96-4212-aba5-4000223a9df0_7) | &nbsp;&nbsp; 32 |
| &nbsp;&nbsp;&nbsp;&nbsp; [Performance Calculations](#xx_6e70151c-7e96-4212-aba5-4000223a9df0_8) | &nbsp;&nbsp; 33 |
| &nbsp;&nbsp;&nbsp;&nbsp; [Voting](#xx_6e70151c-7e96-4212-aba5-4000223a9df0_8) | &nbsp;&nbsp; 33 |

---

---

| | |
|:---|:---|
|  | **Page** |
| **[Charges Associated with the Policy](#xx_3e3f6233-f60e-4217-8b9f-0e52ef7052fb_1)** | &nbsp;&nbsp; 34 |
| &nbsp;&nbsp;&nbsp;&nbsp; [Deductions From Premium Payments](#xx_3e3f6233-f60e-4217-8b9f-0e52ef7052fb_1) | &nbsp;&nbsp; 34 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [Sales Expense Charge](#xx_3e3f6233-f60e-4217-8b9f-0e52ef7052fb_1) | &nbsp;&nbsp; 34 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [State Premium Tax Charge](#xx_3e3f6233-f60e-4217-8b9f-0e52ef7052fb_2) | &nbsp;&nbsp; 35 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [Federal Premium Tax Charge](#xx_3e3f6233-f60e-4217-8b9f-0e52ef7052fb_3) | &nbsp;&nbsp; 36 |
| &nbsp;&nbsp;&nbsp;&nbsp; [Deductions From Cash Value](#xx_3e3f6233-f60e-4217-8b9f-0e52ef7052fb_3) | &nbsp;&nbsp; 36 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [Monthly Contract Charge](#xx_3e3f6233-f60e-4217-8b9f-0e52ef7052fb_3) | &nbsp;&nbsp; 36 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [Cost of Insurance Charge](#xx_3e3f6233-f60e-4217-8b9f-0e52ef7052fb_4) | &nbsp;&nbsp; 37 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [Mortality and Expense Risk Charge](#xx_3e3f6233-f60e-4217-8b9f-0e52ef7052fb_4) | &nbsp;&nbsp; 37 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [Rider Charges](#xx_3e3f6233-f60e-4217-8b9f-0e52ef7052fb_5) | &nbsp;&nbsp; 38 |
| &nbsp;&nbsp;&nbsp;&nbsp; [Separate Account Charges](#xx_3e3f6233-f60e-4217-8b9f-0e52ef7052fb_5) | &nbsp;&nbsp; 38 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [Charges for Federal Income Taxes](#xx_3e3f6233-f60e-4217-8b9f-0e52ef7052fb_5) | &nbsp;&nbsp; 38 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [Fund Charges](#xx_3e3f6233-f60e-4217-8b9f-0e52ef7052fb_5) | &nbsp;&nbsp; 38 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [Partial Withdrawal Processing Fee](#xx_3e3f6233-f60e-4217-8b9f-0e52ef7052fb_5) | &nbsp;&nbsp; 38 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [Fund Transfer Charge](#xx_3e3f6233-f60e-4217-8b9f-0e52ef7052fb_6) | &nbsp;&nbsp; 39 |
| &nbsp;&nbsp;&nbsp;&nbsp; [Loan Charges](#xx_3e3f6233-f60e-4217-8b9f-0e52ef7052fb_6) | &nbsp;&nbsp; 39 |
| &nbsp;&nbsp;&nbsp;&nbsp; [Commissions Paid to Dealers](#xx_3e3f6233-f60e-4217-8b9f-0e52ef7052fb_6) | &nbsp;&nbsp; 39 |
| &nbsp;&nbsp;&nbsp;&nbsp; [How the Policy Works – Example](#xx_3e3f6233-f60e-4217-8b9f-0e52ef7052fb_7) | &nbsp;&nbsp; 40 |
| **[Description of the Policy](#xx_69d8ff98-30b5-4ae8-8c9e-bc3244b1f142_1)** | &nbsp;&nbsp; 44 |
| &nbsp;&nbsp;&nbsp;&nbsp; [The Parties](#xx_69d8ff98-30b5-4ae8-8c9e-bc3244b1f142_1) | &nbsp;&nbsp; 44 |
| &nbsp;&nbsp;&nbsp;&nbsp; [The Policy](#xx_69d8ff98-30b5-4ae8-8c9e-bc3244b1f142_1) | &nbsp;&nbsp; 44 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [How the Policy Is Available](#xx_69d8ff98-30b5-4ae8-8c9e-bc3244b1f142_2) | &nbsp;&nbsp; 45 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [Policy Premiums](#xx_69d8ff98-30b5-4ae8-8c9e-bc3244b1f142_2) | &nbsp;&nbsp; 45 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [Cash Value](#xx_69d8ff98-30b5-4ae8-8c9e-bc3244b1f142_2) | &nbsp;&nbsp; 45 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [Cash Surrender Value](#xx_69d8ff98-30b5-4ae8-8c9e-bc3244b1f142_2) | &nbsp;&nbsp; 45 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [Alternative Cash Surrender Value](#xx_69d8ff98-30b5-4ae8-8c9e-bc3244b1f142_2) | &nbsp;&nbsp; 45 |
| &nbsp;&nbsp;&nbsp;&nbsp; [Investment Divisions and the Fixed Account](#xx_69d8ff98-30b5-4ae8-8c9e-bc3244b1f142_3) | &nbsp;&nbsp; 46 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [Amount in the Separate Account](#xx_69d8ff98-30b5-4ae8-8c9e-bc3244b1f142_3) | &nbsp;&nbsp; 46 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [Determining The Value Of An Accumulation](#xx_69d8ff98-30b5-4ae8-8c9e-bc3244b1f142_3)<br> [Unit](#xx_69d8ff98-30b5-4ae8-8c9e-bc3244b1f142_3)<br>| &nbsp;&nbsp; 46 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [Amount in the Fixed Account](#xx_69d8ff98-30b5-4ae8-8c9e-bc3244b1f142_4) | &nbsp;&nbsp; 47 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [Transfers Among Investment Divisions and](#xx_69d8ff98-30b5-4ae8-8c9e-bc3244b1f142_4)<br> [the Fixed Account](#xx_69d8ff98-30b5-4ae8-8c9e-bc3244b1f142_4)<br>| &nbsp;&nbsp; 47 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [Transfers among Investment Divisions and](#xx_69d8ff98-30b5-4ae8-8c9e-bc3244b1f142_4)<br> [from the Investment Divisions to the Fixed](#xx_69d8ff98-30b5-4ae8-8c9e-bc3244b1f142_4)<br> [Account:](#xx_69d8ff98-30b5-4ae8-8c9e-bc3244b1f142_4)<br>| &nbsp;&nbsp; 47 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [Transfers from the Fixed Account to the](#xx_69d8ff98-30b5-4ae8-8c9e-bc3244b1f142_5)<br> [Investment Divisions:](#xx_69d8ff98-30b5-4ae8-8c9e-bc3244b1f142_5)<br>| &nbsp;&nbsp; 48 |
| &nbsp;&nbsp;&nbsp;&nbsp; [Limits On Transfers](#xx_69d8ff98-30b5-4ae8-8c9e-bc3244b1f142_5) | &nbsp;&nbsp; 48 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [Additional Benefits Through Riders and](#xx_69d8ff98-30b5-4ae8-8c9e-bc3244b1f142_7)<br> [Options](#xx_69d8ff98-30b5-4ae8-8c9e-bc3244b1f142_7)<br>| &nbsp;&nbsp; 50 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [Dollar Cost Averaging](#xx_69d8ff98-30b5-4ae8-8c9e-bc3244b1f142_10) | &nbsp;&nbsp; 53 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [Automatic Asset Reallocation (AAR)](#xx_69d8ff98-30b5-4ae8-8c9e-bc3244b1f142_10) | &nbsp;&nbsp; 53 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [Supplementary Term Rider](#xx_69d8ff98-30b5-4ae8-8c9e-bc3244b1f142_11) | &nbsp;&nbsp; 54 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [Level Term Rider](#xx_69d8ff98-30b5-4ae8-8c9e-bc3244b1f142_13) | &nbsp;&nbsp; 56 |

---

i

------

---

| | |
|:---|:---|
|  | **Page** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [Term Rider vs. Base Policy Coverage](#xx_69d8ff98-30b5-4ae8-8c9e-bc3244b1f142_14) | &nbsp;&nbsp; 57 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [Tax-Free "Section 1035" Insurance Policy](#xx_69d8ff98-30b5-4ae8-8c9e-bc3244b1f142_15)<br> [Exchanges](#xx_69d8ff98-30b5-4ae8-8c9e-bc3244b1f142_15)<br>| &nbsp;&nbsp; 58 |
| &nbsp;&nbsp;&nbsp;&nbsp; [Attained Age 100 Policy Anniversary](#xx_69d8ff98-30b5-4ae8-8c9e-bc3244b1f142_15) | &nbsp;&nbsp; 58 |
| &nbsp;&nbsp;&nbsp;&nbsp; [24 Month Exchange Privilege](#xx_69d8ff98-30b5-4ae8-8c9e-bc3244b1f142_16) | &nbsp;&nbsp; 59 |
| **[Loans](#xx_9e255b3f-e9e4-4168-9fe6-ba5083badb38_1)** | &nbsp;&nbsp; 60 |
| &nbsp;&nbsp;&nbsp;&nbsp; [Your Policy as Collateral for a Loan](#xx_9e255b3f-e9e4-4168-9fe6-ba5083badb38_1) | &nbsp;&nbsp; 60 |
| &nbsp;&nbsp;&nbsp;&nbsp; [Loan Interest](#xx_9e255b3f-e9e4-4168-9fe6-ba5083badb38_1) | &nbsp;&nbsp; 60 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [Interest Credited on the Cash Value Held as](#xx_9e255b3f-e9e4-4168-9fe6-ba5083badb38_2)<br> [Collateral for a Policy Loan](#xx_9e255b3f-e9e4-4168-9fe6-ba5083badb38_2)<br>| &nbsp;&nbsp; 61 |
| &nbsp;&nbsp;&nbsp;&nbsp; [Loan Repayment](#xx_9e255b3f-e9e4-4168-9fe6-ba5083badb38_2) | &nbsp;&nbsp; 61 |
| &nbsp;&nbsp;&nbsp;&nbsp; [Excess Loan Condition](#xx_9e255b3f-e9e4-4168-9fe6-ba5083badb38_2) | &nbsp;&nbsp; 61 |
| &nbsp;&nbsp;&nbsp;&nbsp; [The Effect of a Policy Loan](#xx_9e255b3f-e9e4-4168-9fe6-ba5083badb38_2) | &nbsp;&nbsp; 61 |
| **[Premiums](#xx_89478b9c-3254-4fc1-9cce-beb133b7597e_1)** | &nbsp;&nbsp; 63 |
| &nbsp;&nbsp;&nbsp;&nbsp; [Planned Premium](#xx_89478b9c-3254-4fc1-9cce-beb133b7597e_1) | &nbsp;&nbsp; 63 |
| &nbsp;&nbsp;&nbsp;&nbsp; [Unplanned Premium](#xx_89478b9c-3254-4fc1-9cce-beb133b7597e_1) | &nbsp;&nbsp; 63 |
| &nbsp;&nbsp;&nbsp;&nbsp; [Risk of Minimally Funded Policies](#xx_89478b9c-3254-4fc1-9cce-beb133b7597e_1) | &nbsp;&nbsp; 63 |
| &nbsp;&nbsp;&nbsp;&nbsp; [Timing and Valuation](#xx_89478b9c-3254-4fc1-9cce-beb133b7597e_2) | &nbsp;&nbsp; 64 |
| &nbsp;&nbsp;&nbsp;&nbsp; [Free Look](#xx_89478b9c-3254-4fc1-9cce-beb133b7597e_2) | &nbsp;&nbsp; 64 |
| &nbsp;&nbsp;&nbsp;&nbsp; [Premium Payments](#xx_89478b9c-3254-4fc1-9cce-beb133b7597e_2) | &nbsp;&nbsp; 64 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [Premium Payments Returned for Insufficient](#xx_89478b9c-3254-4fc1-9cce-beb133b7597e_3)<br> [Funds](#xx_89478b9c-3254-4fc1-9cce-beb133b7597e_3)<br>| &nbsp;&nbsp; 65 |
| **[Policy Payment Information](#xx_bcadaff5-79a7-4d61-b529-08a58978af9e_1)** | &nbsp;&nbsp; 66 |
| &nbsp;&nbsp;&nbsp;&nbsp; [When Life Insurance Coverage Begins](#xx_bcadaff5-79a7-4d61-b529-08a58978af9e_1) | &nbsp;&nbsp; 66 |
| &nbsp;&nbsp;&nbsp;&nbsp; [Changing the Face Amount of Your Policy](#xx_bcadaff5-79a7-4d61-b529-08a58978af9e_1) | &nbsp;&nbsp; 66 |
| &nbsp;&nbsp;&nbsp;&nbsp; [Life Insurance Proceeds](#xx_bcadaff5-79a7-4d61-b529-08a58978af9e_2) | &nbsp;&nbsp; 67 |
| &nbsp;&nbsp;&nbsp;&nbsp; [Payees](#xx_bcadaff5-79a7-4d61-b529-08a58978af9e_2) | &nbsp;&nbsp; 67 |
| &nbsp;&nbsp;&nbsp;&nbsp; [How We Will Pay Life Insurance Proceeds](#xx_bcadaff5-79a7-4d61-b529-08a58978af9e_3) | &nbsp;&nbsp; 68 |
| &nbsp;&nbsp;&nbsp;&nbsp; [When We Pay Policy Proceeds](#xx_bcadaff5-79a7-4d61-b529-08a58978af9e_3) | &nbsp;&nbsp; 68 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [Payment Options](#xx_bcadaff5-79a7-4d61-b529-08a58978af9e_4) | &nbsp;&nbsp; 69 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [Electing or Changing a Payment Option](#xx_bcadaff5-79a7-4d61-b529-08a58978af9e_4) | &nbsp;&nbsp; 69 |
| &nbsp;&nbsp;&nbsp;&nbsp; [Life Insurance Benefit Options](#xx_bcadaff5-79a7-4d61-b529-08a58978af9e_5) | &nbsp;&nbsp; 70 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [Effect of Investment Performance on the Life](#xx_bcadaff5-79a7-4d61-b529-08a58978af9e_6)<br> [Insurance Benefit](#xx_bcadaff5-79a7-4d61-b529-08a58978af9e_6)<br>| &nbsp;&nbsp; 71 |
| &nbsp;&nbsp;&nbsp;&nbsp; [Changing Your Life Insurance Benefit Option](#xx_bcadaff5-79a7-4d61-b529-08a58978af9e_7) | &nbsp;&nbsp; 72 |
| **[Additional Policy Provisions](#xx_bcadaff5-79a7-4d61-b529-08a58978af9e_7)** | &nbsp;&nbsp; 72 |
| &nbsp;&nbsp;&nbsp;&nbsp; [Change of Ownership](#xx_bcadaff5-79a7-4d61-b529-08a58978af9e_7) | &nbsp;&nbsp; 72 |
| &nbsp;&nbsp;&nbsp;&nbsp; [Limits On Our Rights To Challenge Your Policy](#xx_bcadaff5-79a7-4d61-b529-08a58978af9e_7) | &nbsp;&nbsp; 72 |
| &nbsp;&nbsp;&nbsp;&nbsp; [Suicide](#xx_bcadaff5-79a7-4d61-b529-08a58978af9e_8) | &nbsp;&nbsp; 73 |
| &nbsp;&nbsp;&nbsp;&nbsp; [Misstatement of Age or Gender](#xx_bcadaff5-79a7-4d61-b529-08a58978af9e_8) | &nbsp;&nbsp; 73 |
| &nbsp;&nbsp;&nbsp;&nbsp; [Assignment](#xx_bcadaff5-79a7-4d61-b529-08a58978af9e_8) | &nbsp;&nbsp; 73 |
| **[Surrenders](#xx_bcadaff5-79a7-4d61-b529-08a58978af9e_8)** | &nbsp;&nbsp; 73 |
| &nbsp;&nbsp;&nbsp;&nbsp; [Partial Withdrawals](#xx_bcadaff5-79a7-4d61-b529-08a58978af9e_8) | &nbsp;&nbsp; 73 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [Amount Available for a Partial Surrender](#xx_bcadaff5-79a7-4d61-b529-08a58978af9e_8) | &nbsp;&nbsp; 73 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [Requesting A Partial Withdrawal](#xx_bcadaff5-79a7-4d61-b529-08a58978af9e_9) | &nbsp;&nbsp; 74 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [The Effect of a Partial Withdrawal](#xx_bcadaff5-79a7-4d61-b529-08a58978af9e_9) | &nbsp;&nbsp; 74 |

---

---

| | |
|:---|:---|
|  | **Page** |
| &nbsp;&nbsp;&nbsp;&nbsp; [Full Surrenders](#xx_bcadaff5-79a7-4d61-b529-08a58978af9e_11) | &nbsp;&nbsp; 76 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [Cash Value](#xx_bcadaff5-79a7-4d61-b529-08a58978af9e_11) | &nbsp;&nbsp; 76 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [Cash Surrender Value](#xx_bcadaff5-79a7-4d61-b529-08a58978af9e_11) | &nbsp;&nbsp; 76 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [Alternative Cash Surrender Value](#xx_bcadaff5-79a7-4d61-b529-08a58978af9e_11) | &nbsp;&nbsp; 76 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [Requesting a Surrender](#xx_bcadaff5-79a7-4d61-b529-08a58978af9e_14) | &nbsp;&nbsp; 79 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [When the Surrender is Effective](#xx_bcadaff5-79a7-4d61-b529-08a58978af9e_14) | &nbsp;&nbsp; 79 |
| **[Termination and Reinstatement](#xx_bcadaff5-79a7-4d61-b529-08a58978af9e_14)** | &nbsp;&nbsp; 79 |
| &nbsp;&nbsp;&nbsp;&nbsp; [Late Period](#xx_bcadaff5-79a7-4d61-b529-08a58978af9e_14) | &nbsp;&nbsp; 79 |
| &nbsp;&nbsp;&nbsp;&nbsp; [Reinstatement Option](#xx_bcadaff5-79a7-4d61-b529-08a58978af9e_15) | &nbsp;&nbsp; 80 |
| **[Distribution and Compensation](#xx_c8a89279-cdc0-46d7-b638-777d25517109_1)**<br> **[Arrangements](#xx_c8a89279-cdc0-46d7-b638-777d25517109_1)**<br>| &nbsp;&nbsp; 81 |
| **[Federal Income Tax Considerations](#xx_c8a89279-cdc0-46d7-b638-777d25517109_1)** | &nbsp;&nbsp; 81 |
| &nbsp;&nbsp;&nbsp;&nbsp; [Our Intent](#xx_c8a89279-cdc0-46d7-b638-777d25517109_1) | &nbsp;&nbsp; 81 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [Tax Status of NYLIAC and the Separate](#xx_c8a89279-cdc0-46d7-b638-777d25517109_1)<br> [Account](#xx_c8a89279-cdc0-46d7-b638-777d25517109_1)<br>| &nbsp;&nbsp; 81 |
| &nbsp;&nbsp;&nbsp;&nbsp; [Charges for Taxes](#xx_c8a89279-cdc0-46d7-b638-777d25517109_1) | &nbsp;&nbsp; 81 |
| &nbsp;&nbsp;&nbsp;&nbsp; [Diversification Standards and Control Issues](#xx_c8a89279-cdc0-46d7-b638-777d25517109_2) | &nbsp;&nbsp; 82 |
| &nbsp;&nbsp;&nbsp;&nbsp; [Life Insurance Status of Policy](#xx_c8a89279-cdc0-46d7-b638-777d25517109_2) | &nbsp;&nbsp; 82 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [IRC Section 101(j)—Impact on](#xx_c8a89279-cdc0-46d7-b638-777d25517109_3)<br> [Employer-Owned Policies](#xx_c8a89279-cdc0-46d7-b638-777d25517109_3)<br>| &nbsp;&nbsp; 83 |
| &nbsp;&nbsp;&nbsp;&nbsp; [Modified Endowment Contract Status](#xx_c8a89279-cdc0-46d7-b638-777d25517109_3) | &nbsp;&nbsp; 83 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [Status of the Policy After the Insured Is Age](#xx_c8a89279-cdc0-46d7-b638-777d25517109_4)<br> [100](#xx_c8a89279-cdc0-46d7-b638-777d25517109_4)<br>| &nbsp;&nbsp; 84 |
| &nbsp;&nbsp;&nbsp;&nbsp; [Policy Surrenders And Partial Withdrawals](#xx_c8a89279-cdc0-46d7-b638-777d25517109_4) | &nbsp;&nbsp; 84 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [3.8 Percent Medicare Tax on Certain](#xx_c8a89279-cdc0-46d7-b638-777d25517109_5)<br> [Investment Income](#xx_c8a89279-cdc0-46d7-b638-777d25517109_5)<br>| &nbsp;&nbsp; 85 |
| &nbsp;&nbsp;&nbsp;&nbsp; [Policy Loans and Interest Deductions](#xx_c8a89279-cdc0-46d7-b638-777d25517109_5) | &nbsp;&nbsp; 85 |
| &nbsp;&nbsp;&nbsp;&nbsp; [Exchanges, Sales, or Assignments of Policies](#xx_c8a89279-cdc0-46d7-b638-777d25517109_5) | &nbsp;&nbsp; 85 |
| &nbsp;&nbsp;&nbsp;&nbsp; [Qualified Plans](#xx_c8a89279-cdc0-46d7-b638-777d25517109_6) | &nbsp;&nbsp; 86 |
| &nbsp;&nbsp;&nbsp;&nbsp; [Withholding](#xx_c8a89279-cdc0-46d7-b638-777d25517109_6) | &nbsp;&nbsp; 86 |
| &nbsp;&nbsp;&nbsp;&nbsp; [Business Uses of Policy](#xx_c8a89279-cdc0-46d7-b638-777d25517109_6) | &nbsp;&nbsp; 86 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [Non-Individual Owners and Business](#xx_c8a89279-cdc0-46d7-b638-777d25517109_6)<br> [Beneficiaries of Policies](#xx_c8a89279-cdc0-46d7-b638-777d25517109_6)<br>| &nbsp;&nbsp; 86 |
| &nbsp;&nbsp;&nbsp;&nbsp; [Corporate Owners](#xx_c8a89279-cdc0-46d7-b638-777d25517109_6) | &nbsp;&nbsp; 86 |
| &nbsp;&nbsp;&nbsp;&nbsp; [Split-Dollar Arrangements](#xx_c8a89279-cdc0-46d7-b638-777d25517109_7) | &nbsp;&nbsp; 87 |
| &nbsp;&nbsp;&nbsp;&nbsp; [Tax Shelter Regulations](#xx_c8a89279-cdc0-46d7-b638-777d25517109_7) | &nbsp;&nbsp; 87 |
| &nbsp;&nbsp;&nbsp;&nbsp; [Other Tax Considerations](#xx_c8a89279-cdc0-46d7-b638-777d25517109_7) | &nbsp;&nbsp; 87 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [Life Insurance Purchases by Residents of](#xx_c8a89279-cdc0-46d7-b638-777d25517109_7)<br> [Puerto Rico](#xx_c8a89279-cdc0-46d7-b638-777d25517109_7)<br>| &nbsp;&nbsp; 87 |
| **[Legal Proceedings](#xx_c8a89279-cdc0-46d7-b638-777d25517109_7)** | &nbsp;&nbsp; 87 |
| **[Records and Reports](#xx_c8a89279-cdc0-46d7-b638-777d25517109_8)** | &nbsp;&nbsp; 88 |
| **[Financial Statements](#xx_c8a89279-cdc0-46d7-b638-777d25517109_8)** | &nbsp;&nbsp; 88 |
| **[State Variations](#xx_c8a89279-cdc0-46d7-b638-777d25517109_8)** | &nbsp;&nbsp; 88 |
| **[Appendix: Eligible Portfolios Available Under](#xx_426d25b0-5489-4e3d-a05f-e7ff7faa8dba_1)**<br> **[the Policy](#xx_426d25b0-5489-4e3d-a05f-e7ff7faa8dba_1)**<br>| &nbsp;&nbsp; 90 |
| **[Obtaining Additional Information](#xx_4e91cd3d-48eb-43be-b26b-eb8ae9ed7e10_1)** | &nbsp;&nbsp; 112 |

---

ii

------

**Definitions**

------

**1933 Act:** The Securities Act of 1933, as amended.

**1940 Act:** The Investment Company Act of 1940, as amended.

**AAR:** Automatic Asset Reallocation.

**Accumulation Unit:** An accounting unit we use to calculate the value in the Investment Divisions. We use Net Premiums and transfers allocated to the Investment Divisions to purchase Accumulation Units in those Investment Divisions.

**Accumulation Value:** The sum of the dollar value of the Accumulation Units in all of the Investment Divisions.

**Allocation Alternatives:** The Investment Divisions of the Separate Account and the Fixed Account. Generally, policyowners may invest their Net Premiums in a total of 20 Allocation Alternatives at any one time but certain Policies may invest in 35 Allocation Alternatives.

**Alternative Cash Surrender Value ("ACSV"):** The Cash Value of the Policy plus the value of the DPL Account.

**Attained Age:** The Insured's issue age, plus the number of Policy Years completed since the Policy Date.

**Business Day:** Any day on which the NYSE is open for regular trading. Our Business Day ends at 4:00 p.m. Eastern Time or the closing of regular trading on the NYSE, if earlier. (Each Business Day is Valuation Day.)

**Cash Surrender Value:** The Cash Value less Policy Debt.

**Cash Value:** The sum of (a) the Accumulation Value, (b) the value in the Fixed Account, and (c) the value in the Loan Account.

**Cash Value Accumulation Test ("CVAT"):** An IRS test to determine whether a policy can be considered life insurance. See "Policy Payment Information—Life Insurance Benefit Options" for more information.

**Cost of Insurance:** A monthly charge that is deducted from your Policy's Cash Value on the Monthly Deduction Day for the costs of providing a Life Insurance Benefit.

**Cumulative Premium Amount:** An amount representing the sum of the total Planned and Unplanned Premium payments made under the Policy less the total partial withdrawals and partial withdrawal fees taken under the Policy. Reductions due to partial withdrawals will never cause this amount to be less than zero. This amount is used to calculate Life Insurance Benefit Option 3.

**DPL Account:** The Deferred Premium Load Account, an account representing a portion of the cumulative sales expense charge and State and Federal Premium Tax charges collected.

**Effective Annual Loan Interest Rate:** The rate that is payable in arrears on the Policy Anniversary, as stated on the Policy Data Pages, for any loans taken under the Policy.

**Eligible Portfolios ("Portfolios"):** The mutual fund portfolios of the Funds that are available for investment through the Investment Divisions. See "Appendix—Eligible Portfolios Available Under the Policy" for a listing and information about the Eligible Portfolios.

**Face Amount:** The dollar amount of life insurance under the Policy as selected by the policyowner. It may be changed by the policyowner. It equals the initial Face Amount shown on the Policy Data Pages, plus or minus any changes made to the initial Face Amount. See "Policy Payment Information—Changing the Face Amount of Your Policy" for more information about the Face Amount.

**FDIC:** Federal Deposit Insurance Corporation.

**FINRA:** The Financial Industry Regulatory Authority, Inc.

**Fixed Account:** The Allocation Alternative that accrues interest at fixed rates on a daily basis, subject to a minimum guarantee, which is credited on each Monthly Deduction Day. This rate can change, subject to the Guaranteed Minimum Interest Rate. Assets in the Fixed Account are part of NYLIAC's General Account.

------

**Flat Extra:** An additional charge that may be assessed and added to the Cost of Insurance charge to cover an additional risk on the Insured, based on our assumption of mortality risk attributable to hazards or hazardous activities whose risks are assessed to be largely independent of age. If applicable, the amount and duration of any Flat Extra will be displayed on the Policy Data Pages.

**Fund:** An open-end management investment company that is registered with the SEC under the 1940 Act.

**General Account:** An account representing all of NYLIAC's assets, liabilities, capital and surplus, income, gains, or losses that are not included in the Separate Account or any other separate account. These assets are subject to the claims of our general creditors. We allocate to this account any Net Premium payments you make during the free look period.

**Good Order:** A Notice, Request, or Policy transaction is in "Good Order" if it complies with our administrative procedures and the required information is complete and correct. We may delay our response to a Notice, Request, or Policy transaction if it is not in Good Order. Good Order generally means our actual receipt of instructions relating to the Notice, Request, or Policy transaction at our Service Office (or, if permitted, by telephone or electronically to NYLAMN_Service@newyorklife.com), along with all forms and other information or documentation necessary to complete the Policy transaction. We may determine whether any particular Notice, Request, or Policy transaction is in Good Order. If you have any questions, you should contact us or your registered representative before submitting a Notice, Request, or Policy transaction.

**Guaranteed Minimum Interest Rate ("GMIR"):** The guaranteed minimum interest crediting rate for the Fixed Account, as shown on the Policy Data Pages.

**Guideline Premium Test ("GPT"):** An IRS test to determine whether a policy can be considered life insurance. See "Policy Payment Information—Life Insurance Benefit Options" for more information.

**Insured:** The person whose life the Policy covers, as named in the application and stated on the Policy Data Pages.

**Investment Division:** A subaccount of the Separate Account. Each Investment Division invests exclusively in shares of a specified Eligible Portfolio.

**IRC:** Internal Revenue Code of 1986, as amended.

**IRS:** The Internal Revenue Service.

**Issue Date:** The date we issue the Policy, as specified on the Policy Data Pages.

**Late Period:** A period of 62 days after the Monthly Deduction Day when the Cash Surrender Value is less than the Monthly Deduction Charges for the next Policy Month.

**Life Insurance Benefit:** The benefit calculated under the Life Insurance Benefit Option you have chosen.

**Life Insurance Proceeds:** The amount we will pay to the beneficiary when we receive due proof in Good Order that the Insured died while the Policy is in effect. The Life Insurance Proceeds are equal to (1 + 2) – (3 + 4) where: (1) is the Life Insurance Benefit calculated under the Life Insurance Benefit Option you have chosen, valued as of the date of death; (2) is any additional death benefits available under any available riders, if elected; (3) is any Policy Debt; and (4) is any unpaid Monthly Deduction Charges.

**Loan Account:** The account that holds a portion of Cash Value for the purpose of securing any Policy Debt. It is part of NYLIAC's General Account.

**Loan Value:** The amount of Cash Value available to borrow using your Policy as sole security. Unless otherwise provided in your Policy, the loan value on any given date may equal up to 90% of the Cash Value less any Policy Debt as of that date.

**LTR:** Level Term Rider.

**MEC:** A modified endowment contract, which is a type of life insurance contract defined in Section 7702A of the Internal Revenue Code. For a description of MECs and the tax consequences of MEC status, please see "Federal Income Tax Considerations—Modified Endowment Contract Status" below.

------

**Monthly Contract Charge:** A monthly charge that is deducted from your Policy's Cash Value on the Monthly Deduction Day for the costs of providing certain administrative services, including Premium collection, record-keeping, processing claims, and communicating with policyowners, as specified on the Policy Data Pages.

**Monthly Deduction Charges:** The Monthly Deduction Charges consist of the Cost of Insurance charge, additional Flat Extras, Mortality and Expense Risk Charge (under CorpExec VUL III/IV/V), Monthly Contract Charge, and any applicable monthly rider charges deducted from your Policy's Cash Value.

**Monthly Deduction Day (CorpExec VUL II):** The date of each month, specified on the Policy Data Pages, as of which we deduct the Monthly Contract Charge, the Cost of Insurance charge, and a rider charge for the cost of any additional riders from the Cash Value. The first Monthly Deduction Day will be the monthly anniversary of the Policy Date on or following the Issue Date. However, if we have not received your initial Premium payment as of the Issue Date, the first Monthly Deduction Day will be the monthly anniversary of the Policy Date on or following the date we receive the initial Premium payment.

**Monthly Deduction Day (CorpExec VUL III/IV/V):** The date of each month, specified on the Policy Data Pages, as of which we deduct the Mortality and Expense Risk Charge, the Monthly Contract Charge, the Cost of Insurance charge, and, if applicable, a rider charge for the cost of any additional riders from the Cash Value. The first Monthly Deduction Day will be the first monthly anniversary of the Policy Date on or following the Issue Date. However, if we have not received your initial Premium payment as of the Issue Date, the first Monthly Deduction Day will be the monthly anniversary of the Policy Date on or following the date we receive the initial Premium payment.

**Mortality and Expense Risk Charge:** A charge that is assessed to cover the risk that the group of lives we have insured under our policies will, on average, not live as long as we expect (mortality risk); and the risk that the cost of issuing and administering the policies will be greater than we have estimated (expense risk).

**Net Amount at Risk:** The Net Amount of Risk is the number of thousands of Life Insurance Benefit divided by 1.0032737 minus the number of thousands of Alternative Cash Surrender Value as of the Monthly Deduction Day (before the Cost of Insurance is deducted but only after the other Monthly Deduction Charges are deducted). See "Policy Payment Information—Life Insurance Benefit Options" for more information.

**Net Premium:** Premium you pay less the Sales Expense Charge and the State and Federal Premium Tax Charges.

**Notice:** A signed written notice in Good Order received at our Service Office which gives us the facts that we need. When you write to us, please include the Policy number, the Insured's full name, and your current address.

**NYLIAC:** New York Life Insurance and Annuity Corporation.

**NYLIC:** New York Life Insurance Company.

**NYLIFE Distributors:** NYLIFE Distributors, LLC.

**NYLIFE Securities:** NYLIFE Securities, LLC.

**NYSE:** The New York Stock Exchange.

**Planned Premium:** The initial Premium and the Premium amounts for Policy Years 2-10 as set forth in the Policy application and/or on Policy Data Page 2.

**Policy or CorpExec VUL:** The four-policy series of the NYLIAC Corporate Executive Series Variable Universal Life Insurance Policies: CorpExec VUL II, CorpExec VUL III, CorpExec VUL IV, and CorpExec VUL V.

**Policy Anniversary:** The anniversary of the Policy Date specified on the Policy Data Pages. A Policy Anniversary starts a new Policy Year.

**Policy Data Pages:** The Policy pages that provide information regarding your Policy, such as Face Amount, Premium payments, and Policy charges.

**Policy Date:** The date we use as the starting point for determining Policy Years and Monthly Deduction Days. Your Policy Date will be the same as your Issue Date, unless you Request otherwise. Generally, you may not choose a Policy Date that is more than six months before your Policy's Issue Date. You can find your Policy Date on the Policy Data Pages.

------

**Policy Debt:** The amount of outstanding loan(s) under your Policy, plus accrued interest.

**Policy Month:** The monthly period beginning on each Monthly Deduction Day and extending to, but not including, the next Monthly Deduction Day.

**Policy Year:** The year from a Policy Anniversary to, but not including, the next Policy Anniversary. The first Policy Year begins on the Policy Date, and each twelve-month period thereafter.

**Premium:** A Planned Premium or an Unplanned Premium.

**Qualified Plan:** An employee benefit plan that is intended to qualify for special federal income tax treatment under Section 401(a) of the IRC.

**Qualified Policy:** A variable universal life insurance policy owned by a Qualified Plan.

**Request:** A signed written request in Good Order received at our Service Office which gives us the facts that we need. When you write to us, please include the Policy number, the Insured's full name, and your current address.

**Sales Standards:** The criteria used to evaluate whether a recommended transaction, relating to your policy, complies with applicable standards of conduct.

**SEC:** The U.S. Securities and Exchange Commission.

**Separate Account:** NYLIAC Corporate Sponsored Variable Universal Life Separate Account-I, a segregated asset account NYLIAC established to receive and invest Net Premiums that are allocated to the Investment Divisions. The Separate Account is divided into subaccounts that correspond to the Investment Divisions.

**Service Office:** As shown on the front cover of this prospectus.

**STR:** Supplementary Term Rider.

**Target Face Amount:** The Face Amount of the Policy or, for policyowners who have elected to include a term rider, the Target Face Amount is the sum of the Face Amount plus the Term Insurance Benefit.

**Target Premium:** An amount used to determine the sales expense charge that is based on the Face Amount of the Policy or the Target Face Amount if a term rider is elected. Any change to the Policy which results in a change to the Face Amount will change the Target Premium.

**Term Insurance Benefit:** The dollar amount of life insurance under a term rider as determined at the time of issue. It equals the initial Term Face Amount shown on the Policy Data Pages, plus or minus any changes made to the initial Term Face Amount.

**Unplanned Premium:** Premium payments you make in addition to Planned Premium.

------

**Important Information You Should Consider About the Policy**

------

**Fees and Expenses**<br>

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

**Please refer to your Policy Data Pages for information about the specific fees** <br> **you will pay each year based on the options you have selected.**<br>

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

---

| | | | |
|:---|:---|:---|:---|
| **Transaction Charges** | We charge you a **Sales Expense Charge**, **State Premium Tax Charge**, and **Federal** <br> **Premium Tax Charge** on each Premium you pay up to Attained Age 100. The **Sales** <br> **Expense Charges** will differ according to the series of the Policies you own and the <br> blend of base Policy and term rider life insurance coverage that you can obtain under <br> the Supplementary Term Rider or the Level Term Rider. See "Charges Associated <br> with the Policy—Deductions from Premium Payments" for more information.<br> The **Sales Expense Charges** differ among the series of Polices covered by this <br> Prospectus. For information about the charges applicable to your Policy, you should <br> consider the descriptions applicable to the series of Policy you own and the Policy <br> Data Pages for your Policy.<br> We may also charge you a **Fund Transfer Charge** on transfers among the <br> investment options under your Policy and a **Partial Withdrawal Processing Fee** on <br> partial withdrawals. Currently, we are not imposing these charges. See "Charges <br> Associated with the Policy—Separate Account Charges—Fund Transfer Charge" and <br> "—Partial Withdrawal Processing Fee."<br> Finally, we reserve the right to charge a fee for returned payments, but we are not <br> currently charging it. | We charge you a **Sales Expense Charge**, **State Premium Tax Charge**, and **Federal** <br> **Premium Tax Charge** on each Premium you pay up to Attained Age 100. The **Sales** <br> **Expense Charges** will differ according to the series of the Policies you own and the <br> blend of base Policy and term rider life insurance coverage that you can obtain under <br> the Supplementary Term Rider or the Level Term Rider. See "Charges Associated <br> with the Policy—Deductions from Premium Payments" for more information.<br> The **Sales Expense Charges** differ among the series of Polices covered by this <br> Prospectus. For information about the charges applicable to your Policy, you should <br> consider the descriptions applicable to the series of Policy you own and the Policy <br> Data Pages for your Policy.<br> We may also charge you a **Fund Transfer Charge** on transfers among the <br> investment options under your Policy and a **Partial Withdrawal Processing Fee** on <br> partial withdrawals. Currently, we are not imposing these charges. See "Charges <br> Associated with the Policy—Separate Account Charges—Fund Transfer Charge" and <br> "—Partial Withdrawal Processing Fee."<br> Finally, we reserve the right to charge a fee for returned payments, but we are not <br> currently charging it. | We charge you a **Sales Expense Charge**, **State Premium Tax Charge**, and **Federal** <br> **Premium Tax Charge** on each Premium you pay up to Attained Age 100. The **Sales** <br> **Expense Charges** will differ according to the series of the Policies you own and the <br> blend of base Policy and term rider life insurance coverage that you can obtain under <br> the Supplementary Term Rider or the Level Term Rider. See "Charges Associated <br> with the Policy—Deductions from Premium Payments" for more information.<br> The **Sales Expense Charges** differ among the series of Polices covered by this <br> Prospectus. For information about the charges applicable to your Policy, you should <br> consider the descriptions applicable to the series of Policy you own and the Policy <br> Data Pages for your Policy.<br> We may also charge you a **Fund Transfer Charge** on transfers among the <br> investment options under your Policy and a **Partial Withdrawal Processing Fee** on <br> partial withdrawals. Currently, we are not imposing these charges. See "Charges <br> Associated with the Policy—Separate Account Charges—Fund Transfer Charge" and <br> "—Partial Withdrawal Processing Fee."<br> Finally, we reserve the right to charge a fee for returned payments, but we are not <br> currently charging it. |
| **Ongoing Fees and** <br> **Expenses (annual** <br> **charges)**<br>| In addition to transaction charges, an investment in the Policy is subject to certain <br> ongoing fees and expenses which we deduct monthly, including **Cost of Insurance** <br> **Charges**, **Flat Extras charges** (added to the cost of insurance charge to cover <br> certain additional mortality risk) and term rider charges. These charges may vary <br> based on the characteristics of the Insured (e.g., issue age, gender, underwriting <br> class, Policy Year, and the Face Amount and Life Insurance Benefit Option of your <br> Policy). See "Charges Associated with the Policy—Deductions from Cash <br> Value—Cost of Insurance Charge" and "Description of the Policy—Additional <br> Benefits through Riders and Options" in the Prospectus.<br> We also charge a **Mortality and Expense Risk Charge** and a **Monthly Contract** <br> **Charge**. The **Monthly Contract Charges** and **Mortality and Expense Risk** <br> **Charges** differ among the series of the Policies. See "Charges Associated with the <br> Policy—Deductions from Cash Value" and "—Loan Charges." You should review the <br> Policy Data Pages of your Policy for rates and the specific fees applicable to your <br> Policy.<br> You will also bear expenses associated with the Eligible Portfolios available under <br> your Policy, as shown in the following table, which shows the minimum and maximum <br> total operating expenses deducted from the assets of the Eligible Portfolios (before <br> any fee waiver or expense reimbursement) during the year ended December 31, <br> 2025. (See "Appendix—Eligible Portfolios Available Under the Policies" for our list of <br> available Eligible Portfolios, the current expenses for these Portfolios, and the <br> Average Annual Total Returns). | In addition to transaction charges, an investment in the Policy is subject to certain <br> ongoing fees and expenses which we deduct monthly, including **Cost of Insurance** <br> **Charges**, **Flat Extras charges** (added to the cost of insurance charge to cover <br> certain additional mortality risk) and term rider charges. These charges may vary <br> based on the characteristics of the Insured (e.g., issue age, gender, underwriting <br> class, Policy Year, and the Face Amount and Life Insurance Benefit Option of your <br> Policy). See "Charges Associated with the Policy—Deductions from Cash <br> Value—Cost of Insurance Charge" and "Description of the Policy—Additional <br> Benefits through Riders and Options" in the Prospectus.<br> We also charge a **Mortality and Expense Risk Charge** and a **Monthly Contract** <br> **Charge**. The **Monthly Contract Charges** and **Mortality and Expense Risk** <br> **Charges** differ among the series of the Policies. See "Charges Associated with the <br> Policy—Deductions from Cash Value" and "—Loan Charges." You should review the <br> Policy Data Pages of your Policy for rates and the specific fees applicable to your <br> Policy.<br> You will also bear expenses associated with the Eligible Portfolios available under <br> your Policy, as shown in the following table, which shows the minimum and maximum <br> total operating expenses deducted from the assets of the Eligible Portfolios (before <br> any fee waiver or expense reimbursement) during the year ended December 31, <br> 2025. (See "Appendix—Eligible Portfolios Available Under the Policies" for our list of <br> available Eligible Portfolios, the current expenses for these Portfolios, and the <br> Average Annual Total Returns). | In addition to transaction charges, an investment in the Policy is subject to certain <br> ongoing fees and expenses which we deduct monthly, including **Cost of Insurance** <br> **Charges**, **Flat Extras charges** (added to the cost of insurance charge to cover <br> certain additional mortality risk) and term rider charges. These charges may vary <br> based on the characteristics of the Insured (e.g., issue age, gender, underwriting <br> class, Policy Year, and the Face Amount and Life Insurance Benefit Option of your <br> Policy). See "Charges Associated with the Policy—Deductions from Cash <br> Value—Cost of Insurance Charge" and "Description of the Policy—Additional <br> Benefits through Riders and Options" in the Prospectus.<br> We also charge a **Mortality and Expense Risk Charge** and a **Monthly Contract** <br> **Charge**. The **Monthly Contract Charges** and **Mortality and Expense Risk** <br> **Charges** differ among the series of the Policies. See "Charges Associated with the <br> Policy—Deductions from Cash Value" and "—Loan Charges." You should review the <br> Policy Data Pages of your Policy for rates and the specific fees applicable to your <br> Policy.<br> You will also bear expenses associated with the Eligible Portfolios available under <br> your Policy, as shown in the following table, which shows the minimum and maximum <br> total operating expenses deducted from the assets of the Eligible Portfolios (before <br> any fee waiver or expense reimbursement) during the year ended December 31, <br> 2025. (See "Appendix—Eligible Portfolios Available Under the Policies" for our list of <br> available Eligible Portfolios, the current expenses for these Portfolios, and the <br> Average Annual Total Returns). |
|  | **Annual Fee** | **Minimum** | **Maximum** |
|  | Investment Options <br> (Eligible Portfolio fees <br> and expenses)<br>| 0.09% | 2.475% |

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**Risks**<br>

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| **Risk of Loss** | You can lose money by investing in the Policy. See "Summary of Principal Risks of <br> Investment in the Policy—Investment Risk."<br>|
| **Not a Short-Term** <br> **Investment**<br>| The Policy is not a short-term investment and is not appropriate for an investor who <br> needs ready access to cash. It is designed to provide a life insurance benefit and to <br> help meet other long-term financial objectives. Substantial fees, expenses, and tax <br> consequences make variable life insurance inappropriate as a short-term savings <br> vehicle. Additionally, the Policy may limit your ability to withdraw a portion of the Cash <br> Value through partial withdrawals or loans. See "Summary of Principal Risks of <br> Investment in the Policy—Not a Short-Term Investment," "Loans," and <br> "Surrenders—Partial Withdrawals—Amount Available for a Partial Surrender."<br>|
| **Risks Associated with** <br> **Investment Options**<br>| An investment in the Policy is subject to the risk of poor investment performance and <br> can vary depending on the performance of the investment options you select. Each <br> Allocation Alternative (including the Fixed Account) has its own unique risks. The <br> performance of the Eligible Portfolios will vary, and some are riskier than others. <br> Accordingly, you should review the prospectuses of the Eligible Portfolios before <br> making an investment decision. A discussion of the risks of allocating your Premiums <br> or Cash Value to one or more Eligible Portfolios can be found in the prospectuses for <br> the Eligible Portfolios, which are available at https://dfinview.com/NewYorkLife/TAHD/<br> corpexec-ii-v. See also "Management and Organization—Funds and Eligible <br> Portfolios," "—The Fixed Account," and "—Interest Crediting."<br>|
| **Insurance Company Risks** | An investment in the Policy is subject to the risks related to NYLIAC, including that <br> any obligations (including the Fixed Account), guarantees, or benefits under the <br> Policy are subject to the claims-paying ability and financial strength of NYLIAC and <br> are not backed or guaranteed by NYLIC. If NYLIAC experiences financial distress, it <br> may not be able to meet its obligations to you. There are also risks relating to <br> NYLIAC's administration of the Policy, including cybersecurity and infectious disease <br> outbreak risks. More information about NYLIAC, including its claims-paying and <br> financial strength ratings, is available upon request by contacting our Service Office <br> at (888) 695-4748, faxing us at (913) 906-4129, or emailing us at <br> NYLAMN_Service@newyorklife.com.<br>|

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| **Contract Lapse** | Your Policy can lapse even if you pay all of the Planned Premiums on time. When a <br> Policy lapses, it has no value, and no benefits are paid upon the death of the Insured. <br> You may also lose the principal invested. Your Policy will lapse if the Cash Surrender <br> Value is insufficient to cover the **Monthly Deduction Charges** and you do not pay <br> enough Premium to cover the overdue charges by the end of the Late Period under <br> your Policy. This can happen in a number of circumstances, including minimal <br> funding, partial withdrawals, excessive Policy loans and interest, Policy charges <br> (including increases in Policy charges), market fluctuations, and poor investment <br> return of the Eligible Portfolios you select. The larger a Policy loan becomes relative <br> to the Policy's Cash Value, the greater the risk that the Policy's Cash Surrender Value <br> will not be sufficient to support the Policy's charges and expenses, including any loan <br> interest payable, and the greater the risk of the Policy lapsing. A Policy that has a <br> Cash Surrender Value just sufficient to cover **Monthly Deduction Charges** and other <br> deductions, or that is otherwise minimally funded, is less likely to maintain its Cash <br> Surrender Value due to market fluctuations and other performance-related risks. To <br> continue to keep your Policy in force, Premium payments significantly higher than the <br> Planned Premiums may be required. In addition, by paying only the minimum <br> Premium required to keep the Policy in force, you may forego the opportunity to build <br> up significant Cash Value in the Policy. If the Policy lapses, there are costs and <br> Premium requirements associated with reinstatement of the Policy. See "Summary of <br> Principal Risks of Investment in the Policy—Risk of Termination," "Termination and <br> Reinstatement—Late Period," and "–Reinstatement Option." In some states, the <br> Policy's Late Period and other lapse and reinstatement provisions may differ. For <br> more information on state variations, ask your registered representative or see "State <br> Variations."<br>|

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**Restrictions**<br>

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| **Investments** | Generally, you may allocate your Net Premiums or Cash Value among up to 20 of the <br> Eligible Portfolios at any one time as well as to the Fixed Account. Certain policies <br> associated with a nonqualified deferred compensation plan may permit allocation <br> among up to 35 Eligible Portfolios and the Fixed Account; please contact us for more <br> information.<br> Unless we agree otherwise, the minimum amount that may be transferred among the <br> Investment Divisions or to or from the Fixed Account at one time is $500 (or, if less, <br> the entire amount in that investment option). If, after a transfer, less than $500 would <br> remain in the relevant Investment Division or the Fixed Account, we may include the <br> remaining value in the transfer. See "Description of the Policy—Investment Divisions <br> and the Fixed Account—Transfers among Investment Divisions and the Fixed <br> Account."<br> In addition, we may limit your ability to make transfers involving the Investment <br> Divisions if a transfer may disadvantage or potentially hurt the rights of other <br> policyowners. We also will reject or reverse a transfer Request if any of the relevant <br> Eligible Portfolios for any reason does not accept the purchase of its shares. For <br> more information about our rights to decline transfers, see "Description of the <br> Policy—Limits on Transfers." For more information about the Eligible Portfolios' rights <br> to refuse or restrict purchases and redemptions of their shares, see their <br> prospectuses.<br> NYLIAC reserves the right to remove or substitute Eligible Portfolios as investment <br> options or close investment options to new investment. See "Management and <br> Organization—Our Rights" and "Appendix—Eligible Portfolios Available Under the <br> Policy" for our list of available Eligible Portfolios.<br> In addition, NYLIAC has the right to establish limits on your ability to allocate Net <br> Premiums, or to transfer all or part of the Cash Value from an Investment Division to <br> the Fixed Account. These limits may include allowing no Premium allocations, or <br> transfers from the Investment Divisions, to the Fixed Account. See "Description of the <br> Policy—Investment Divisions and the Fixed Account—Amount in the Fixed Account" <br> and "—Transfers Among Investment Divisions and the Fixed Account."<br>|

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| **Optional Benefits** | The Supplementary Term Rider is not available for Policies under the guideline <br> premium test.<br>There are limitations on the benefit amounts associated with some optional benefits.<br> Activation of certain optional benefits may affect the Face Amount, life insurance <br> proceeds or other rights under the policy.<br> You are required to have a minimum Cash Value to elect, or retain access to, certain <br> optional benefits.<br> Some optional benefits may have tax implications.<br> We may modify or discontinue offering an optional benefit at any time.<br> Some optional benefits may not be used together.<br> We may change these restrictions in the future.<br> For more detailed information, see "Description of the Policy—Additional Benefits <br> Through Riders and Options."<br>|

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

**Taxes**<br>

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| **Tax Implications** | You should consult with a tax professional to determine the tax implications of an <br> investment in and payments received under the Policy. For example, special rules <br> apply to employer-owned policies. The Policy may not be used with tax-qualified <br> plans or individual retirement accounts. Withdrawals (including loans) may be subject <br> to ordinary income tax and, subject to certain exceptions, a 10 percent penalty tax. <br> See "Summary of Principal Risks of Investment in the Policy—Tax Risks" and <br> "Federal Income Tax Considerations" for more information about the tax <br> consequences of the Policy.<br>|

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**Conflicts of Interest**<br>

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|:---|:---|
| **Investment Professional** <br> **Compensation**<br>| Selling broker-dealers and, in turn their registered representatives, receive <br> compensation for selling the Policy. The compensation will consist of commissions, <br> asset-based compensation, expense allowances, and/or other compensation <br> programs. NYLIAC also may enter into agreements with service entities, which may <br> be affiliated with broker-dealers, under which NYLIAC pays service fees or additional <br> compensation. These compensation arrangements may have the potential to <br> influence the recommendations made by your registered representative or <br> broker-dealer. See "Distribution and Compensation Arrangements."<br> The Policy offers a choice of three Life Insurance Benefit Options. (See "Policy <br> Payment Information—Life Insurance Benefit Options.") The Life Insurance Benefit <br> Option you choose will affect the amount of your Policy's Target Premium through its <br> constituent Face Amount. As Target Premium affects the amount of compensation <br> received by your registered representative, your choice of Life Insurance Benefit <br> Option may have the potential to influence the recommendation made by your <br> registered representative or broker-dealer as to the Face Amount that will form part of <br> the Life Insurance Benefit Option you choose.<br> If your policy includes a term rider, the blend of base Policy life insurance coverage <br> and term rider life insurance coverage affects the compensation paid to your <br> registered representative for selling you the Policy. Generally, agents receive higher <br> compensation for sales of the same Life Insurance Benefit through base Policy <br> coverage than for sales of term rider coverage. This could influence your registered <br> representative's advice to you about the relative amounts of base Policy and term <br> insurance coverage you should purchase. See "Description of the Policy—Additional <br> Benefits Through Riders and Options" and "Distribution and Compensation <br> Arrangements."<br>|
| **Exchanges** | Some investment professionals may have a financial incentive to offer you a new <br> policy in place of one that you already own. You should only exchange your <br> CorpExec VUL II-V Policy if you determine, after comparing features, fees, and risks <br> of both policies, that it is preferable for you to purchase the new policy rather than <br> continue to own your CorpExec VUL II-V Policy.<br> It may not be to your advantage to borrow money to purchase a Policy or to take <br> partial surrenders from another policy you own to make Premium payments under <br> this CorpExec VUL II-V Policy. See "Description of the Policy—Tax-Free <br> "Section 1035" Insurance Policy Exchanges."<br>|

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**Overview of the Policy**

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***1.*** ***What is the Purpose of the Policy?***

The Policies are offered by NYLIAC to individual executives and other employees to provide life insurance coverage for executives and other employees in a corporate-sponsored arrangement as well as to fund employee benefit obligations. The Policy offers life insurance protection through a choice of Life Insurance Benefit options and a choice of term riders and provides for flexible Premiums, where you decide the timing and amount of each payment. It also provides the potential to accumulate Cash Value and gives you the ability to access the Policy's Cash Surrender Value through loans and partial withdrawals. It also provides the potential to accumulate Cash Value in the early Policy Years as well as to complement traditional sources of retirement income in the later years. This Policy, like other variable life insurance policies, is designed to provide a Life Insurance Benefit or to help meet other long-term financial objectives and is generally unsuitable for use as a short-term savings vehicle. The Policies may not be used in Qualified Plans.

***2.*** ***What are the Premiums under the Policy?***

The Policy is a flexible Premium variable life insurance policy. "Flexible Premium" means that you may decide the timing and amount of each Premium payment. Premium payments are not required, except for payment of the initial Premium. As long as the Cash Surrender Value is sufficient to cover the Policy's Monthly Deduction Charges, you can increase, decrease, or stop making Premium payments to meet your needs. However, if your Policy is underfunded or the Eligible Portfolios you select have poor investment performance, you may forego the opportunity to build up significant Cash Value or your Policy may lapse. When a Policy lapses, it has no value, and no benefits are paid upon the death of the Insured. You may also lose the principal invested.

We may decline Premiums or require additional underwriting for Premiums that would increase your Policy's Life Insurance Benefit more than its Alternative Cash Surrender Value plus Policy Debt. You may not pay Premium in an amount that would jeopardize your Policy's status as a contract of life insurance under the IRC. See "Premiums," for more information about Premium payments. You may not make Premium payments after the Policy Anniversary on which the Insured is Attained Age 100, except to keep the Policy from lapsing.

If, on a Monthly Deduction Day, your Cash Surrender Value is less than the Monthly Deduction Charges, your Policy will continue until the expiration of the Late Period. This may happen even if all the Planned Premiums have been paid. During this period, you will have the opportunity to pay any Premium needed to cover any overdue charges. We will mail a notice to your last known address (as well as to the last known assignee, if any) stating this amount. We will mail these notices at least 31 days before the end of the Late Period. Your Policy will remain in effect during the Late Period. However, if we do not receive the required payment, postmarked by the end of the Late Period, we will terminate your Policy. See "Termination and Reinstatement—Late Period."

If your Policy has ended, you may Request that we reinstate your Policy (and any other benefits provided by riders in effect at the end of the Policy) as long as you send a Request for reinstatement within three years after your Policy is ended; the Insured is alive; and you have not surrendered your Policy for its full Cash Surrender Value or, if applicable, Alternative Cash Surrender Value. To reinstate the Policy, you must also make a payment sufficient to cover the Monthly Deduction Charges and any other Policy charges to keep the Policy in force for at least three months. This payment will be in lieu of the payment of all Premiums in arrears. You may want to consider paying additional Premium to protect against the impact of potential market fluctuations and performance-related risks on your Cash Value. If, at the time the Policy ended, an outstanding Policy loan was in effect, the Policy Debt at the time of lapse must also be repaid in full at the time of reinstatement. If the required payment is made within 31 days after the end of the Late Period, no proof of insurability is required. If the required payment is not made within 31 days after the end of the Late Period, a written application will be required and you must provide proof of insurability that is acceptable to us.

***3.*** ***How May Your Premiums be Allocated?***

You may allocate your Net Premiums to the Investment Divisions, each of which invests in an Eligible Portfolio, or to the Fixed Account. Generally, you may allocate your Net Premiums among up to 20 Eligible Portfolios at any one time and the Fixed Account. Certain policies associated with a nonqualified deferred compensation plan may permit allocation among up to 35 Eligible Portfolios and the Fixed Account; please contact us for more information. See

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"Description of the Policy—Investment Divisions and the Fixed Account" for more information about allocation of your Premiums and Cash Value and "Appendix—Eligible Portfolios Available Under the Policy" for a list of available Eligible Portfolios.

Each Eligible Portfolio has its own investment objective and investment strategy. The Eligible Portfolios available under the Policy span a broad range of asset classes and investment disciplines, including bond funds, equity funds, global bond and equity funds, target date funds, specialty funds, actively managed funds and index funds. For more information about the Eligible Portfolios, see the Appendix and the prospectuses for the Eligible Portfolios.

***4.*** ***What are the Primary Features of the Policy?***

***Three Life Insurance Benefit Options***

We designed the Policy to provide insurance protection for group or sponsored arrangements. The Policy provides permanent life insurance coverage with the potential for tax-deferred Cash Value accumulation. The Policy offers three different Life Insurance Benefit options that allow you to select the insurance plan that best meets your needs. These options allow you to determine how the Life Insurance Benefit will be calculated.

&nbsp;&nbsp;&nbsp;&nbsp;● Option 1—a Life Insurance Benefit equal to the greater of (a) the Face Amount of the Policy or (b) a percentage of the Alternative Cash Surrender Value equal to the minimum necessary for the Policy to qualify as life insurance under Section 7702 of the IRC.

&nbsp;&nbsp;&nbsp;&nbsp;● Option 2—a Life Insurance Benefit equal to the greater of (a) the Face Amount of the Policy plus the Alternative Cash Surrender Value or (b) a percentage of the Alternative Cash Surrender Value equal to the minimum necessary for the Policy to qualify as life insurance under Section 7702 of the IRC.

&nbsp;&nbsp;&nbsp;&nbsp;● Option 3—a Life Insurance Benefit equal to the greater of (a) the Face Amount of the Policy plus the Cumulative Premium Amount or (b) a percentage of the Alternative Cash Surrender Value equal to the minimum necessary for the Policy to qualify as life insurance under Section 7702 of the IRC.

If the Insured dies on or after the Policy Anniversary on which the Insured's Attained Age is 100, the Life Insurance Benefit will equal the Alternative Cash Surrender Value less any Policy Debt. There is no minimum Life Insurance Proceeds guarantee associated with the Policy.

***Change the Amount of Coverage***

After the first Policy Year, you may request an increase or decrease in the Policy's Face Amount by sending a Request. The Face Amount of your Policy affects the Life Insurance Benefit to be paid. Increases in the Face Amount are subject to underwriting and our approval. They will result in additional Cost of Insurance charges and may affect the Policy's modified endowment contract status. Please see "Federal Income Tax Considerations—Modified Endowment Contract Status," for more information on how a change in Face Amount may require a new determination as to whether your Policy is a modified endowment contract or otherwise affect the MEC status of your Policy. Under certain circumstances, it may be advantageous to increase the Term Insurance Benefit rather than increasing the Face Amount under your Policy.

***Cash Value***

The Cash Value of the Policy is based on the number of Accumulation Units held in each Investment Division for the Policy, plus any amount in the Fixed Account and the Loan Account. The Cash Value varies due to performance of the Investment Divisions selected and the interest credited to the Fixed Account, outstanding loans (including loan interest and any interest credited to the Loan Account), any charges we deduct and Premium payments. With the Policy, you have the potential for higher rates of return and Cash Value accumulation than with a fixed rate life insurance policy.

We will pay you either the Cash Surrender Value or the ACSV (less any outstanding Policy Debt) if you surrender your Policy. The Cash Surrender Value is equal to the Cash Value less Policy Debt. The ACSV is equal to the Cash Value of the Policy plus the value of the DPL Account. You are eligible to receive the ACSV, provided the Policy has not been assigned, and, in most circumstances, if the owner has not been changed. If you are not eligible for the ACSV, we will pay you the Cash Surrender Value.

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***Flexible Premium Payments***

Policy Premium payments are flexible; you can select the timing and amount of Premium you pay, within limits. Other than the initial minimum Premium payment, there are no required Premiums. As long as the Cash Surrender Value is sufficient to cover the Policy's monthly deductions, you can increase, decrease, or stop making Premium payments to meet your needs.

***Liquidity through Withdrawals and Loans***

You may withdraw an amount up to the Cash Surrender Value of your Policy, within limits. Partial withdrawals will reduce the Policy's Cash Value, the Cash Surrender Value, the Alternative Cash Surrender Value, if applicable, and the Cumulative Premium Amount, and may reduce your Life Insurance Benefit. In addition, if a partial withdrawal would cause the Policy's Cash Value or Face Amount to drop below our minimum amount, we reserve the right to require a full surrender. A charge may be assessed on the partial withdrawal. Partial withdrawals may result in a taxable event. You should consult with a tax advisor before taking a partial withdrawal. Please see "Federal Income Tax Considerations—Modified Endowment Contract Status" and "—Policy Surrenders and Partial Withdrawals," for additional information regarding potential tax implications. Partial withdrawal Requests must be made to our Service Office and must be in Good Order. See "Surrenders—Partial Withdrawals."

Using the Policy as sole security, you may also borrow any amount up to the Loan Value of the Policy. (See "Loans" for more information.)

***Allocation Alternatives***

After we deduct the Sales Expense Charge and the State and Federal Premium Tax Charges from your Premium, you may allocate the remaining amount among up to 20 Allocation Alternatives at any one time, as well as to the Fixed Account. Certain Policies may permit allocation among up to 35 Allocation Alternatives and the Fixed Account at any one time; please contact us for more information. The Allocation Alternatives consist of Investment Divisions and the Fixed Account. You can change Allocation Alternatives while your Policy is in force. See "Appendix—Eligible Portfolios Available Under the Policy" for a listing and information about the Eligible Portfolios.

***Automated Investment Features***

There are two administrative features available to help you manage the Policy's Cash Value and to adjust the investment allocation to suit changing needs. These features are: Automatic Asset Reallocation and Dollar Cost Averaging. Please see "Description of the Policy—Additional Benefits Through Options Available At No Additional Charge" for complete information.

***Additional Benefits Through Riders***

The Policy offers additional insurance coverage and other benefits through two optional riders, the Supplementary Term Rider and the Level Term Rider. These riders have costs associated with them.

***A Highly Rated Company***

NYLIAC is a subsidiary of New York Life Insurance Company ("NYLIC"). NYLIC has 180 years of experience in the offering of insurance products. NYLIAC is a highly-rated insurer. Ratings reflect only NYLIAC's General Account, which are applicable to the Fixed Account. Ratings are not applicable to the Investment Divisions, which are not guaranteed. NYLIAC's obligations under the Policy are subject to its claims-paying ability and financial strength and are not backed or guaranteed by NYLIC.

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**Table of Fees and Expenses**

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**The following tables describe the fees and expenses that you will pay when buying, owning, surrendering or making withdrawals from the Policy. We have provided separate tables for each type of CorpExec VUL Policy covered by this Prospectus. Please refer to your Policy Data Pages for Information and the specific fees you will pay each year.**

**This first set of tables describes the fees and expenses that you will pay when you purchase the Policy, make a payment, surrender the Policy, take a partial withdrawal, or transfer Cash Value among Allocation Alternatives.**

***CorpExec VUL II:*** 

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| | | |
|:---|:---|:---|
| **Transaction Fees** | **Transaction Fees** | **Transaction Fees** |
| **Charge** | **When Charge Is Deducted** | **Amount Deducted** |
| Sales Expense Charge for Premiums <br> paid up to the Target Premium<br>| When Premium payment is applied <br> up to Attained Age 100<br>| **<u>Guaranteed Maximum:</u> 14.00% of** <br> **Premiums paid**<sup>1</sup> <br>**<u>Current</u>: 13.75% of Premiums** <br> **paid**<sup>2</sup> <br>|
| Sales Expense Charge for Premiums <br> paid over the Target Premium<br>| When Premium payment is applied <br> up to Attained Age 100<br>| **<u>Guaranteed Maximum</u>: 3.00% of** <br> **Premiums paid**<br> **<u>Current</u>: 1.25% of Premiums paid**<sup>3</sup> <br>|
| State Premium Tax Charge | When Premium payment is applied <br> up to Attained Age 100<br>| **All taxes may vary over time.**<br> **<u>Guaranteed Maximum:</u> 2.00% of** <br> **Premiums paid, subject to tax law** <br> **changes**<br> **<u>Current</u>: 2.00% of Premiums paid**<br>|
| Federal Premium Tax Charge | When Premium payment is applied <br> up to Attained Age 100<br>| **All taxes may vary over time.**<br> **<u>Guaranteed Maximum</u>: 1.25% of** <br> **Premiums paid, subject to tax law** <br> **changes**<br> **<u>Current</u>: 1.25% of Premiums paid**<br>|
| Fund Transfer Charge | At time of transfer | **<u>Guaranteed Maximum:</u> $30 per** <br> **transfer after 12 transfers in a** <br> **Policy Year**<br> **<u>Current</u>: No charge**<br>|
| Partial Withdrawal Processing Fee | At the time of withdrawal | **<u>Guaranteed Maximum</u>: $25**<br> **<u>Current</u>: No charge**<br>|
| Charge for Returned Payment | At the time of the transaction | **<u>Guaranteed Maximum</u>: $20**<br> **<u>Current</u>: $0**<br>|

---

<sup>1</sup>

Maximum sales expense charges for Premium payments made up to the Target Premium are reduced to 10.00% in Policy Years 2-7; and 5.00% in Policy Years 8 and beyond.

<sup>2</sup>

Current sales expense charges for Premium payments made up to the Target Premium are reduced to 9.75% in Policy Years 2-7; 2.75% in Policy Years 8-10; and 1.75% in Policy Years 11 and beyond.

<sup>3</sup>

Current sales expense charges for Premium payments made over the Target Premium are reduced to 0.75% in Policy Years 2-7; and 0.25% in Policy Years 8 and beyond.

------

***CorpExec VUL III and CorpExec VUL IV:*** 

---

| | | |
|:---|:---|:---|
| **TRANSACTION FEES** | **TRANSACTION FEES** | **TRANSACTION FEES** |
| **Charge** | **When Charge Is Deducted** | **Amount Deducted** |
| Sales Expense Charge for Premiums<br> paid up to the Target Premium<br>| When Premium payment is applied <br> up to Attained Age 100<br>| **<u>Guaranteed Maximum</u>: 14.00% of** <br> **Premiums paid**<sup>1</sup> <br>**<u>Current:</u> 10.75% of Premiums** <br> **paid**<sup>2</sup> <br>|
| Sales Expense Charge for Premiums<br> paid over the Target Premium<br>| When Premium payment is applied <br> up to Attained Age 100<br>| **<u>Guaranteed Maximum</u>: 3.00% of** <br> **Premiums paid**<br> **<u>Current:</u> None**<br>|
| State Premium Tax Charge for <br> Premiums<br> paid up to the Target Premium<br>| When Premium payment is applied <br> up to Attained Age 100<br>| **All taxes may vary over time.**<br> **<u>Guaranteed Maximum</u>: 2.00% of** <br> **Premiums paid, subject to tax law** <br> **changes**<br> **<u>Current:</u> 2.00% of Premiums paid**<br>|
| State Premium Tax Charge for <br> Premiums<br> paid over the Target Premium<br>| When Premium payment is applied <br> up to Attained Age 100<br>| **<u>Guaranteed Maximum</u>: 2.00% of** <br> **Premiums paid, subject to tax law** <br> **changes**<br> **<u>Current:</u> 1.75% of Premiums paid**<br> **All taxes may vary over time.**<br>|
| Federal Premium Tax Charge | When Premium payment is applied <br> up to Attained Age 100<br>| **<u>Guaranteed Maximum</u>: 1.25% of** <br> **Premiums paid, subject to tax law** <br> **changes**<br> **<u>Current:</u> 1.25% of Premiums paid**<br>|
| Fund Transfer Charge | At time of transfer | **<u>Guaranteed Maximum</u>: $30 per** <br> **transfer after 12 transfers in a** <br> **Policy Year**<br> **<u>Current:</u> No charge**<br>|
| Partial Withdrawal Processing Fee | At the time of withdrawal | **<u>Guaranteed Maximum</u>: $25**<br> **<u>Current:</u> No charge**<br>|
| Charge for Returned Payment | At the time of the transaction | **<u>Guaranteed Maximum</u>: $20**<br> **<u>Current:</u> $0**<br>|

---

<sup>1</sup>

Maximum sales expense charges for Premium payments made up to the Target Premium are reduced to 10.00% in Policy Years 2-7; and 5.00% in Policy Years 8 and beyond.

<sup>2</sup>

Current sales expense charges for Premium payments made up to the Target Premium are reduced to 5.75% in Policy Years 2-5; 4.75% in Policy Years 6-7; and 1.75% in Policy Years 8 and beyond.

------

***CorpExec VUL V:*** 

---

| | | |
|:---|:---|:---|
| **TRANSACTION FEES** | **TRANSACTION FEES** | **TRANSACTION FEES** |
| **Charge** | **When Charge Is Deducted** | **Amount Deducted** |
| Sales Expense Charge for Premiums<br> paid up to the Target Premium<br>| When Premium payment is applied <br> up to Attained Age 100<br>| **<u>Guaranteed Maximum</u>: 14.00% of** <br> **Premiums paid**<sup>1</sup> <br>**<u>Current</u>: 14.00% of Premiums** <br> **paid**<sup>2</sup> <br>|
| Sales Expense Charge for Premiums<br> paid over the Target Premium<br>| When Premium payment is applied <br> up to Attained Age 100<br>| **<u>Guaranteed Maximum</u>: 3.00% of** <br> **Premiums paid**<br> **<u>Current</u>: 1.00% of Premiums paid**<sup>3</sup> <br>|
| State Premium Tax Charge for <br> Premiums<br> paid up to the Target Premium<br>| When Premium payment is applied <br> up to Attained Age 100<br>| **All taxes may vary over time.**<br> **<u>Guaranteed Maximum</u>: 2.00% of** <br> **Premiums paid, subject to tax law** <br> **changes**<br> **<u>Current</u>: 2.00% of Premiums paid**<sup>4</sup> <br>|
| State Premium Tax Charge for <br> Premiums<br> paid over the Target Premium<br>| When Premium payment is applied <br> up to Attained Age 100<br>| **All taxes may vary over time.**<br> **<u>Guaranteed Maximum</u>: 2.00% of** <br> **Premiums paid, subject to tax law** <br> **changes**<br> **<u>Current</u>: 1.75% of Premiums paid**<sup>4</sup> <br>|
| Federal Premium Tax Charge | When Premium payment is applied <br> up to Attained Age 100<br>| **<u>Guaranteed Maximum</u>: 1.25% of** <br> **Premiums paid, subject to tax law** <br> **changes**<br> **<u>Current</u>: 1.25% of Premiums paid**<sup>5</sup> <br>|
| Fund Transfer Charge | At time of transfer | **<u>Guaranteed Maximum</u>: $30 per** <br> **transfer after 12 transfers in a** <br> **Policy Year**<br> **<u>Current</u>: No charge**<br>|
| Partial Withdrawal Processing Fee | At the time of withdrawal | **<u>Guaranteed Maximum</u>: $25**<br> **<u>Current</u>: No charge**<br>|
| Charge for Returned Payment | At the time of the transaction | **<u>Guaranteed Maximum</u>: $20**<br> **<u>Current:</u> $0**<br>|

---

<sup>1</sup>

Maximum sales expense charges for Premium payments made up to the Target Premium are reduced to 10.00% in Policy Years 2-7; and 5.00% in Policy Years 8 and beyond.

<sup>2</sup>

Current sales expense charges for Premium payments made up to the Target Premium are reduced to 10.00% in Policy Years 2-5; 1.75% in Policy Years 6-7; and 0.00% in Policy Years 8 and beyond.

<sup>3</sup>

Current sales expense charges for Premium payments over the Target Premium are reduced to 0.00% in Policy Years 2 and beyond.

<sup>4</sup>

Current state Premium tax charges for Premium payments are reduced to 1.50% in Policy Years 8 and beyond.

<sup>5</sup>

Current federal Premium tax charges for Premium payments are reduced to 1.00% in Policy Years 8 and beyond.

------

**The set of tables below describes the fees and expenses that you will pay periodically during the time that you own the Policy, excluding the Eligible Portfolios' fees and expenses.**

***CorpExec VUL II:*** 

---

| | | |
|:---|:---|:---|
| **Periodic Charges Other Than Eligible Portfolios' Operating Expenses** | **Periodic Charges Other Than Eligible Portfolios' Operating Expenses** | **Periodic Charges Other Than Eligible Portfolios' Operating Expenses** |
| **Charge** | **When Charge Is Deducted** | **Amount Deducted** |
| Cost of Insurance Charge<sup>1,2</sup> <br>| Each Monthly Deduction Day applied <br> to Age 100<br>| **<u>Guaranteed Maximum</u>: $90.90 per** <br> **$1,000 of Net Amount at Risk**<sup>3</sup> <br>**<u>Guaranteed Minimum</u>: $0.08 per** <br> **$1,000 of Net Amount at Risk**<br> **<u>Guaranteed Maximum Charge for</u>** <br> **<u>Representative Insured in first</u>** <br> **<u>Policy Year</u> (Male, Age 45,** <br> **Non-Smoker, Guaranteed Issue):** <br> **$0.38 per $1,000 of Net Amount at** <br> **Risk**<br> **<u>Current Charge for Representative</u>** <br> **<u>Insured</u> (Male, Age 45,** <br> **Non-Smoker, Guaranteed Issue):** <br> **$0.135 per $1,000 of Net Amount at** <br> **Risk**<br>|
| Contract Charge | Each Monthly Deduction Day applied <br> to Age 100<br>| **<u>Guaranteed Maximum</u>: $9.00**<br> **<u>Current</u>: $5.00**<br>|
| Mortality and Expense Risk Charge | Daily | **<u>Guaranteed Maximum</u>: An annual** <br> **rate of 0.90% of the average daily** <br> **Accumulation Value**<br> **<u>Current</u>: An annual rate of 0.25%** <br> **of the average daily Accumulation** <br> **Value**<br>|
| Loan Interest | Monthly while loan balance is <br> outstanding<br>| **<u>Guaranteed Maximum</u>: 6.00%**<br> **<u>Current</u>: 4.00%**<br>|
| **<u>Riders</u>** |  |  |
| Supplementary Term Rider<sup>1</sup> <br>| Monthly until rider expires | **<u>Guaranteed Maximum</u>: $90.90 per** <br> **$1,000 of term insurance benefit.**<br> **<u>Minimum</u>: $0.08 per $1,000 of term** <br> **insurance benefit.**<br> **<u>Current Charge for Representative</u>** <br> **<u>Insured</u> (Male, Age 45,** <br> **Non-Smoker, Guaranteed Issue):** <br> **$0.008 per $1,000 of term** <br> **insurance benefit.**<br>|

---

------

---

| | | |
|:---|:---|:---|
| **Periodic Charges Other Than Eligible Portfolios' Operating Expenses** | **Periodic Charges Other Than Eligible Portfolios' Operating Expenses** | **Periodic Charges Other Than Eligible Portfolios' Operating Expenses** |
| **Charge** | **When Charge Is Deducted** | **Amount Deducted** |
| Level Term Rider<sup>1</sup> <br>| Monthly until rider expires | **<u>Guaranteed Maximum</u>: $90.90 per** <br> **$1,000 of term insurance benefit.**<br> **<u>Minimum</u>: $0.08 per $1,000 of term** <br> **insurance benefit.**<br> **<u>Current Charge for Representative</u>** <br> **<u>Insured</u> (Male, Age 45,** <br> **Non-Smoker, Guaranteed Issue):** <br> **$0.008 per $1,000 of term** <br> **insurance benefit.**<br>|

---

<sup>1</sup>

This charge varies based on characteristics of the Insured and the charge shown may not be representative of the charge you will pay. This charge may also vary based upon the state in which your Policy is issued. To obtain more information about particular Cost of Insurance and other charges as they apply to your Policy, please contact your Registered Representative.

<sup>2</sup>

The Cost of Insurance Charge shown here does not reflect any applicable Flat Extras charge, which we may impose based on our underwriting. Even if a Flat Extra is imposed, your Cost of Insurance Charge will never exceed the Maximum Charge stated in the table above. For more information about Flat Extras, see "Definition—Flat Extras" and 'Charges Associated with the Policy—Deductions from Cash Value—Cost of Insurance Charge."

<sup>3</sup>

"Net Amount at Risk" is equal to the number of thousands of Life Insurance Benefit divided by 1.0032737 minus the number of thousands of the Policy's Alternative Cash Surrender Value (before the cost of insurance charge, but after the monthly contract charge and any charges for riders are deducted). See "Policy Payment Information—Life Insurance Benefit Options" for more information.

***CorpExec VUL III and CorpExec VUL IV:*** 

---

| | | |
|:---|:---|:---|
| **PERIODIC CHARGES OTHER THAN ELIGIBLE PORTFOLIOS' OPERATING EXPENSES** | **PERIODIC CHARGES OTHER THAN ELIGIBLE PORTFOLIOS' OPERATING EXPENSES** | **PERIODIC CHARGES OTHER THAN ELIGIBLE PORTFOLIOS' OPERATING EXPENSES** |
| **Charge** | **When Charge Is Deducted** | **Amount Deducted** |
| Cost of Insurance Charge<sup>1,2</sup> <br>| Each Monthly Deduction Day applied <br> to Age 100<br>| **<u>Guaranteed Maximum</u>: $90.90 per** <br> **$1,000 of Net Amount at Risk**<sup>3</sup> <br>**<u>Guaranteed Minimum</u>: $0.08 per** <br> **$1,000 of Net Amount at Risk**<br> **<u>Guaranteed Maximum Charge for</u>** <br> **<u>Representative Insured</u> (Male, Age** <br> **45, Non-Smoker, Guaranteed** <br> **Issue) in First Policy Year: $0.38** <br> **per $1,000 of Net Amount at Risk**<br> **<u>Current Charge for Representative</u>** <br> **<u>Insured</u> (Male, Age 45,** <br> **Non-Smoker, Guaranteed Issue):** <br> **$0.052 per $1,000 of Net Amount at** <br> **Risk**<br>|
| Contract Charge | Each Monthly Deduction Day applied <br> to Age 100<br>| **<u>Guaranteed Maximum</u>: $9.00**<br> **<u>Current</u>: $5.00, except $0 in Policy** <br> **Year 1**<br>|

---

------

---

| | | |
|:---|:---|:---|
| **PERIODIC CHARGES OTHER THAN ELIGIBLE PORTFOLIOS' OPERATING EXPENSES** | **PERIODIC CHARGES OTHER THAN ELIGIBLE PORTFOLIOS' OPERATING EXPENSES** | **PERIODIC CHARGES OTHER THAN ELIGIBLE PORTFOLIOS' OPERATING EXPENSES** |
| **Charge** | **When Charge Is Deducted** | **Amount Deducted** |
| Mortality and Expense Risk Charge | Each Monthly Deduction Day | **<u>Guaranteed Maximum</u>: An annual** <br> **rate of 0.90% of the Accumulation** <br> **Value**<br> **<u>Current</u>: An annual rate of 0.25%** <br> **of the Accumulation Value in** <br> **Policy Year 1, 0.45% of the** <br> **Accumulation Value in Policy** <br> **Years 2-25, and 0.25% of the** <br> **Accumulation Value thereafter.**<br>|
| Loan Interest | Monthly while loan balance is <br> outstanding<br>| **<u>Guaranteed Maximum</u>: 6.00%**<br> **<u>Current</u>: 4.00%**<br>|
| **<u>Riders</u>** |  |  |
| Supplementary Term Rider<sup>1</sup> <br>| Monthly until rider expires | **<u>Guaranteed Maximum</u>: $90.90 per** <br> **$1,000 of term insurance benefit.**<br> **<u>Minimum</u>: $0.08 per $1,000 of term** <br> **insurance benefit.**<br> **<u>Current Charge for Representative</u>** <br> **<u>Insured</u> (Male, Age 45,** <br> **Non-Smoker, Guaranteed Issue):** <br> **$0.023 per $1,000 of term** <br> **insurance benefit.**<br>|
| Level Term Rider<sup>1</sup> <br>| Monthly until rider expires | **<u>Guaranteed Maximum</u>: $90.90 per** <br> **$1,000 of Term Insurance Benefit.**<br> **<u>Minimum</u>: $0.08 per $1,000 of term** <br> **insurance benefit.**<br> **<u>Current Charge for Representative</u>** <br> **<u>Insured</u> (Male, Age 45,** <br> **Non-Smoker, Guaranteed Issue):** <br> **$0.023 per $1,000 of term** <br> **insurance benefit.**<br>|

---

<sup>1</sup>

This charge varies based on characteristics of the Insured and the charge shown may not be representative of the charge you will pay. This charge may also vary based upon the state in which your Policy is issued. To obtain more information about particular Cost of Insurance and other charges as they apply to your Policy, please contact your Registered Representative.

<sup>2</sup>

The Cost of Insurance Charge shown here does not reflect any applicable Flat Extras charge, which we may impose based on our underwriting. Even if a Flat Extra is imposed, your Cost of Insurance Charge will never exceed the Maximum Charge stated in the table above. For more information about Flat Extras, see "Definition—Flat Extras" and "Charges Associated with the Policy—Deductions from Cash Value—Cost of Insurance Charge."

<sup>3</sup>

"Net Amount at Risk" is equal to the number of thousands of Life Insurance Benefit divided by 1.0032737 minus the number of thousands of the Policy's Alternative Cash Surrender Value (before the cost of insurance charge, but after the Mortality and Expense Risk Charge, the monthly contract charge, and any charges for riders are deducted). See "Policy Payment Information—Life Insurance Benefit Options" for more information.

------

***CorpExec VUL V:*** 

---

| | | |
|:---|:---|:---|
| **PERIODIC CHARGES OTHER THAN ELIGIBLE PORTFOLIOS' OPERATING EXPENSES** | **PERIODIC CHARGES OTHER THAN ELIGIBLE PORTFOLIOS' OPERATING EXPENSES** | **PERIODIC CHARGES OTHER THAN ELIGIBLE PORTFOLIOS' OPERATING EXPENSES** |
| **Charge** | **When Charge Is Deducted** | **Amount Deducted** |
| Cost of Insurance Charge<sup>1,2</sup> <br>| Each Monthly Deduction Day applied <br> to Age 100<br>| **<u>Guaranteed Maximum</u>: $90.90 per** <br> **$1,000 of Net Amount at Risk**<sup>3</sup> <br>**<u>Guaranteed Minimum</u>: $0.08 per** <br> **$1,000 of Net Amount at Risk**<br> **<u>Guaranteed Maximum Charge for</u>** <br> **<u>Representative Insured</u> (Male, Age** <br> **45, Non-Smoker, Guaranteed** <br> **Issue) in first Policy Year: $0.38** <br> **per $1,000 of Net Amount at Risk**<br> **<u>Current Charge for Representative</u>** <br> **<u>Insured</u> (Male, Age 45,** <br> **Non-Smoker, Guaranteed Issue):** <br> **$0.052 per $1,000 of Net Amount at** <br> **Risk**<br>|
| Contract Charge | Each Monthly Deduction Day applied <br> to Age 100<br>| **<u>Guaranteed Maximum</u>: $9.00**<br> **<u>Current</u>: $5.00, except $0 in Policy** <br> **Year 1**<br>|
| Mortality and Expense Risk Charge | Each Monthly Deduction Day | **<u>Guaranteed Maximum</u>: An annual** <br> **rate of 0.90% of the Accumulation** <br> **Value**<br> **<u>Current</u>: An annual rate of 0.50%** <br> **of the Accumulation Value in** <br> **Policy Years 1-10 and 0.25% of the** <br> **Accumulation Value thereafter**<br>|
| Loan Interest | Monthly while loan balance is <br> outstanding<br>| **<u>Guaranteed Maximum</u>: 6.00%**<br> **<u>Current</u>: 4.00%**<br>|
| **<u>Riders</u>** |  |  |
| Supplementary Term Rider<sup>1</sup> <br>| Monthly until rider expires | **<u>Guaranteed Maximum</u>: $90.90 per** <br> **$1,000 of term insurance benefit.**<br> **<u>Minimum</u>: $0.08 per $1,000 of term** <br> **insurance benefit.**<br> **<u>Current Charge for Representative</u>** <br> **<u>Insured</u> (Male, Age 45,** <br> **Non-Smoker, Guaranteed Issue):** <br> **$0.023 per $1,000 of term** <br> **insurance benefit.**<br>|

---

------

---

| | | |
|:---|:---|:---|
| **PERIODIC CHARGES OTHER THAN ELIGIBLE PORTFOLIOS' OPERATING EXPENSES** | **PERIODIC CHARGES OTHER THAN ELIGIBLE PORTFOLIOS' OPERATING EXPENSES** | **PERIODIC CHARGES OTHER THAN ELIGIBLE PORTFOLIOS' OPERATING EXPENSES** |
| **Charge** | **When Charge Is Deducted** | **Amount Deducted** |
| Level Term Rider<sup>1</sup> <br>| Monthly until rider expires | **<u>Guaranteed Maximum</u>: $90.90 per** <br> **$1,000 of term insurance benefit.**<br> **<u>Minimum</u>: $0.08 per $1,000 of term** <br> **insurance benefit.**<br> **<u>Current Charge for Representative</u>** <br> **<u>Insured</u> (Male, Age 45,** <br> **Non-Smoker, Guaranteed Issue):** <br> **$0.023 per $1,000 of term** <br> **insurance benefit.**<br>|

---

<sup>1</sup>

This charge varies based on characteristics of the Insured and the charge shown may not be representative of the charge you will pay. This charge may also vary based upon the state in which your Policy is issued. To obtain more information about particular Cost of Insurance and other charges as they apply to your Policy, please contact your Registered Representative.

<sup>2</sup>

The Cost of Insurance Charge shown here does not reflect any applicable Flat Extras charge, which we may impose based on our underwriting. Even if a Flat Extra is imposed, your Cost of Insurance Charge will never exceed the Maximum Charge stated in the table above. For more information about Flat Extras, see "Definition—Flat Extras" and "Charges Associated with the Policy—Deductions from Cash Value—Cost of Insurance Charge."

<sup>3</sup>

"Net Amount at Risk" is equal to the number of thousands of Life Insurance Benefit divided by 1.0032737 minus the number of thousands of the Policy's Alternative Cash Surrender Value (before this cost of insurance charge, but after the Mortality and Expense Risk Charge, the monthly contract charge, and any charges for riders are deducted). See "Policy Payment Information—Life Insurance Benefit Options" for more information.

***Annual Eligible Portfolio Expenses***

**The next table shows the minimum and maximum total operating expenses deducted from Eligible Portfolios' assets during the year ended December 31, 2025 for all Policies covered by this Prospectus. Eligible Portfolio expenses may change from year to year, and hence, may be higher or lower in the future. You may pay these expenses periodically during the time that you own the Policy. A complete list of the Eligible Portfolios available under the Policy, including information concerning each Portfolio's annual fees and expenses, is contained in an Appendix at the back of this prospectus.** 

---

| | | |
|:---|:---|:---|
| **Annual Eligible Portfolio Expenses**<sup>1,2</sup> | **Minimum** | **Maximum** |
| Before fee waivers and expense reimbursements | 0.09% | 2.475% |
| After fee waivers and expense reimbursements | 0.09% | 2.475% |

---

<sup>1</sup>

Expenses that are deducted from Eligible Portfolio assets, including management fees, distribution (12b-1) fees, and other expenses. Expressed as a percentage of average net assets for the fiscal year ended December 31, 2025. This information is based on December 31, 2025 expenses, and it may reflect estimated charges.

<sup>2</sup>

Fee waivers and expense reimbursements are generally expected to continue through April 30, 2026 and may be terminated at any time at the option of the Fund.

------

**Summary of Principal Risks of Investment In the Policy**

------

The following is a brief summary of the principal risks of investing in the Policy. Both the benefits and risks of investing in the Policy should be considered before making additional Premium payments. More complete and detailed information about the features of the Policies is provided later in this prospectus and in the SAI.

***Investment Risk***

While a variable policy has the potential for a higher rate of return than a fixed rate policy, investment returns on the assets in the Separate Account may be negative and the Cash Value may decline in value, and you can lose principal. Each Investment Division has its own investment objective and investment strategy. The performance of each will vary, and some Investment Divisions are riskier than others. We do not guarantee the investment performance of the Investment Divisions. You bear the entire investment risk for all amounts allocated to the Investment Divisions. Your Premium and Cash Value allocation choices should be consistent with your investment objective and your risk tolerance.

In addition, a variable life insurance policy is designed to provide a Life Insurance Benefit or to help meet other long-term financial objectives. Substantial fees, expenses, and tax implications generally make variable life insurance unsuitable as a short-term savings vehicle. Additionally, the policy may limit your ability to withdraw a portion of the Cash Value through partial withdrawals.

***Not a Short-Term Investment***

A variable life insurance policy is designed to provide a Life Insurance Benefit or to help meet other long-term financial objectives. Substantial fees, expenses, and tax implications make variable life insurance unsuitable as a short-term savings vehicle. Additionally, the Policy may limit your ability to withdraw a portion of the Cash Value through partial withdrawals or loans. See "Summary of Principal Risks of Investment in the Policy—Investment Risk," "Loans," and "Surrenders—Partial Withdrawals—Amount Available for a Partial Withdrawal."

***Portfolio Risks***

The Investment Divisions involve the risk of poor investment performance. A discussion of the risks of allocating Cash Value to one or more of the Investment Divisions can be found in the corresponding Eligible Portfolio's prospectus, which is available at https://dfinview.com/NewYorkLife/TAHD/corpexec-ii-v.

***Risk of Termination***

The Policy does not automatically terminate, even if the policyowner does not pay the Planned Premiums. ***Payment of these Premiums, however, does not guarantee the Policy will remain in force***. Your Policy can lapse even if you pay all of the Planned Premiums on time. When a Policy lapses, it has no value, and no benefits are paid upon the death of the Insured. Your Policy involves risks, including the potential risk of loss of the principal invested. Note that "termination" and "lapse" have the same meaning and effect throughout this Prospectus.

A Policy that has a Cash Surrender Value just sufficient to cover Monthly Deduction Charges and other deductions, or that is otherwise minimally funded, is less likely to maintain its Cash Surrender Value due to market fluctuations and other performance-related risks. To continue to keep your Policy in force, Premium payments significantly higher than the Planned Premiums may be required. In addition, by paying only the minimum Premium required to keep the Policy in force, you may forego the opportunity to build up significant Cash Value in the Policy. When determining the amount of your Planned Premium payments, you should consider funding your Policy at a level that has the potential to maximize the investment opportunities within your Policy and to minimize the risks associated with market fluctuations.

Depending on the timing and degree of fluctuations in investment returns (and the charges we impose), the Cash Surrender Value will also fluctuate. A lower Cash Surrender Value, under certain circumstances, could result in the lapse of the Policy unless the policyowner makes additional Premium payments to keep the Policy in force. The Policy terminates only when and if the Cash Surrender Value is insufficient to pay the Monthly Deduction Charges deducted on each Monthly Deduction Day.

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If, on a Monthly Deduction Day, the Cash Surrender Value is less than the Monthly Deduction Charges for the next Policy Month, the Policy will go into pre-lapse status. The Policy will continue for a period of 62 days after that Monthly Deduction Day (the "Late Period"), even if all Planned Premiums have been paid. If we do not receive a Premium sufficient to take the Policy out of pre-lapse status before the end of the Late Period, the Policy will lapse and terminate, and no Cash Value or Life Insurance Proceeds will be payable. Note that "termination" and "lapse" have the same meaning and effect throughout this prospectus.

We will mail a notice to the policyowner at its last known address, and a copy to the last known assignee on our records, if applicable, at least 31 days before the end of the Late Period, requesting payment of the additional Premium amount necessary to keep the Policy in force. You should consider paying more Premium than requested when making this payment, given the potential impact of market fluctuations and performance-related risk on your Cash Value. During the Late Period, the Policy remains in force. If the Insured dies during the Late Period, we will pay the Life Insurance Proceeds. However, these proceeds will be reduced by the amount of any Policy Debt and any unpaid Monthly Deduction Charges from the beginning of the Late Period through the Policy Month in which the Insured dies.

There will be no more benefits under the Policy once it terminates. However, a policyowner can apply to reinstate the Policy (and optional riders, if elected when the Policy was first purchased) under certain circumstances. See "Termination and Reinstatement—Reinstatement Option."

***Risk of Termination from Policy Loans***

The larger a Policy loan becomes relative to the Policy's Cash Value, the greater the risk that the Policy's Cash Surrender Value will not be sufficient to support the Policy's charges and expenses, including any loan interest payable, and the greater the risk of the Policy lapsing. Any loan interest due on a Policy Anniversary that you do not pay will become part of the Policy Debt and will also accrue interest. In addition, if the Policy Debt ever exceeds the Cash Value, we will send a notice to you at your last known address, and a copy to the last known assignee on our records. All insurance coverage will end 31 days after the date on which we mail that notice to you if the excess of the Policy Debt over the Cash Value is not paid within that 31-day period.

A loan, repaid or not, has a permanent effect on your Cash Value. The effect could be favorable if the Investment Divisions earn less than the Loan Account crediting rate, or unfavorable, if the Investment Divisions earn more. The longer a loan is outstanding, the greater the potential effect on your Cash Value. If it is not repaid, the aggregate amount of the outstanding loan principal and any accrued interest will reduce the Life Insurance Proceeds that might otherwise be paid.

Unless your Policy qualifies as a modified endowment contract, Policy loans are not taxable. See "Federal Income Tax Considerations—Modified Endowment Contract Status." If a Policy is a modified endowment contract, a Policy loan may result in taxable income and tax penalties to you. In addition, if the Policy Debt plus Cash Surrender Value exceeds the Cumulative Premium Amount, a Policy surrender or lapse will generally result in a taxable event to you.

***Term Rider Risks***

The section of this Prospectus entitled "Description of the Policy—Additional Benefits Through Riders and Options" describes the two term riders available with the Policies and a number of factors you should consider in deciding whether to purchase a Policy that includes Life Insurance Benefit coverage in conjunction with a term rider.

Among other things, the current Cost of Insurance charges are different under base Policy coverage than under the term riders. In general, these rates are lower for coverage provided under the term rider than for coverage provided under the base Policy for the first six Policy Years. However, beginning in Policy Year seven, the Cost of Insurance rates under the term riders usually are higher than the Cost of Insurance charges under the base Policy. If, during the life of the Policy, your Cash Value is at a low level either because your overall funding has been low or your actual investment experience has been poor, the negative impact of the higher Cost of Insurance charges on the Cash Value will be greater. Therefore, the lower the Premiums paid and/or the worse the actual investment experience, the greater possibility that a Policy with a term rider will not perform as well as a Policy with base coverage only.

Generally, agents receive higher compensation for sales of the same Life Insurance Benefit through base Policy coverage than for sales of term rider coverage. These compensation arrangements have the potential to influence the recommendations made by your registered representative or broker-dealer.

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You should review several illustrations with various combinations of base Policy and term rider coverage using a variety of rates of return. Your choice as to how much term coverage you should elect should be based on your individual plans with respect to Premium amounts, level of risk tolerance, and the time you plan to hold the Policy. Please ask your registered representative to review your various options. For more information on compensation of your registered representatives and broker-dealers, see "Distribution and Compensation Arrangements." For more information on the term riders, see "Description of the Policy—Additional Benefits Through Riders and Options."

***Tax Risks***

The section of this Prospectus entitled "Federal Income Tax Considerations" describes a number of tax issues that may arise in connection with the Policy. These risks include: (1) the possibility that the IRS may interpret the rules that apply to variable universal life insurance contracts in a manner that could result in you being treated as the owner of your Policy's pro rata portion of the assets of the Separate Account; (2) the possibility that the IRS may take the position that the Policy does not qualify as life insurance for tax purposes; (3) the possibility that, as a result of Policy transactions, including the payment of Premiums or increases or decreases in Policy benefits, the Policy may be treated as a modified endowment contract for federal income tax purposes, with special rules that apply to Policy distributions, including loans; (4) in general, the possibility that the Policy may not qualify as life insurance under the IRC after the Insured's Attained Age 100 and the owner may be subject to adverse tax consequences at that time; (5) whether and to what extent the Life Insurance Benefit may be received on a tax-free basis in the case of employer-owned life insurance contracts; and (6) the possibility that the IRS may treat a loan as a taxable distribution if there is no spread, or a very small spread, between the interest rate charged on the loan and the interest rate credited on the loaned amount. In addition, Congress may change the present federal income tax laws that apply to your Policy, or the IRS may change current interpretations thereof, which change may occur without notice, and could have retroactive effects, regardless of the date of enactment or publication, as the case may be.

***Potential for Increased Charges***

We have the right to increase the charges we deduct at any time up to the guaranteed maximum charges specified in the fee table. In addition, we may increase the amount we deduct to conform to changes in the law relating to Federal and State Premium tax charges. (See "Table of Fees and Expenses" and "Charges Associated with the Policy" for more information.)

***Potentially Harmful Transfer Activity***

This Policy is not designed as a vehicle for market timing. Accordingly, your ability to make transfers under the Policy is subject to limitation if we determine, in our sole opinion, that the exercise of that privilege may disadvantage or potentially hurt the rights or interests of other policyowners. We have limitations and restrictions on transfer activity. (See "Description of the Policy—Limits on Transfers" for more information.) Generally, we require that all transfer Requests be submitted through the U.S. Mail or an overnight carrier. However, we may permit, in certain limited circumstances, transfer Requests to be submitted by fax transmission. We cannot guarantee that these limitations and restrictions will be effective in detecting and preventing all transfer activity that could potentially disadvantage or hurt the rights or interests of other policyowners. Potentially harmful transfer activity could result in reduced performance results for one or more Investment Divisions, due to among other things:

&nbsp;&nbsp;&nbsp;&nbsp;● Portfolio management decisions driven by the need to maintain higher than normal liquidity or the inability to sustain an investment objective;

&nbsp;&nbsp;&nbsp;&nbsp;● Increased administrative and Fund brokerage expenses; and/or

&nbsp;&nbsp;&nbsp;&nbsp;● Dilution of the interests of long-term investors.

An Eligible Portfolio may reject any order from us if it suspects potentially harmful transfer activity, thereby preventing us from implementing your Request for a transfer. See "Description of the Policy—Limits on Transfers" for more information on the risks of frequent trading.

***Credit Risk***

NYLIAC's obligations under the Policy are subject to its claims-paying ability and financial strength, and are not backed or guaranteed by NYLIC. NYLIAC has received the following ratings: A++ (Superior) from A.M. Best; AAA

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(Exceptionally Strong) from Fitch; Aa1 (High Quality, with Minimal Risk) from Moody's; and AA+ (Very Strong) from Standard and Poor's. More information about NYLIAC, including its claims-paying and financial strength ratings, is available upon request by contacting our Service Office at (888) 695-4748, faxing us at (913) 906-4129 or emailing us at NYLAMN_Service@newyorklife.com.

***Risks Affecting our Administration of Your Policy***

NYLIAC's business activity and operations, and/or the activities and operations of our service providers and business partners, are subject to certain risks, including those resulting from information systems failures, cyber-attack/ransomware, or current or future outbreaks of infectious diseases, viruses (including COVID-19), epidemics, or pandemics ("serious infectious disease outbreaks"). These risks are common to all insurers and financial service providers and may materially impact our ability to administer the Policy (and to keep policyowner information confidential). (See "Management and Organization—Information Systems Failures and Cybersecurity Risks" for more information on systems failures and cybersecurity risks and "Management and Organization—Risks from Serious Infectious Disease Outbreaks" for more information on risks from serious infectious disease outbreaks.)

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**Management and Organization**

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**INSURER** <br>New York Life Insurance and Annuity Corporation <br>(a wholly owned subsidiary of NYLIC) <br>51 Madison Avenue <br>New York, NY 10010

***Your Policy***

The Policy is offered by NYLIAC. Policy assets are invested in the NYLIAC Corporate Sponsored Variable Universal Life Separate Account-I (the "Separate Account"), which has been in existence since May 24, 1996, and/or the Fixed Account. The Policy offers life insurance protection, a choice of Life Insurance Benefit options, flexible Premium payments, loans and withdrawals (which may be subject to a surrender charge), changes in the Face Amount of the Policy, and the ability to invest in any of the Allocation Alternatives, including the Fixed Account.

The Policies are variable. This means that the Cash Value allocated to the Separate Account will fluctuate based on the investment experience of the Investment Divisions you select. The interest credited on the money allocated to the Fixed Account and the DPL Account may also vary. NYLIAC does not guarantee the investment performance of the Separate Account or of the Eligible Portfolios. You bear the entire investment risk with respect to amounts allocated to the Investment Divisions of the Separate Account. Each Investment Division has its own investment objective and investment strategy. As a consequence, some Investment Divisions are riskier than others. We offer no assurance that the investment objectives of the Investment Divisions will be achieved. Accordingly, amounts allocated to the Investment Divisions of the Separate Account are subject to the risks inherent in the securities markets and, specifically, to price fluctuations in the Eligible Portfolios' investments.

The income, gains, and losses credited to, or charged against, the Separate Account reflect its own investment experience, and not that of NYLIAC's other assets. It is important to note that the Policy's assets may be used to pay only those NYLIAC liabilities that arise from the Policies. NYLIAC is obligated to pay all amounts promised to policyowners under the Policies.

Certain provisions of the Policies may differ from the general description in this prospectus, and certain riders and options, may not be available because of legal requirements or restrictions in the state in which your Policy is delivered. The material state variations are described in the "State Variations" section below. All state variations will be included in your Policy, or in riders or endorsements attached to your Policy. Please contact your registered representative or us for specific information that may be applicable to your state. (See "State Variations" for details.)

***About the Separate Account***

The Separate Account is a segregated asset account that NYLIAC established to receive and invest your Net Premiums. Although the assets of the Separate Account belong to NYLIAC, these assets are held separately from the other assets of NYLIAC, and under applicable insurance law, cannot be charged for liabilities incurred in any other business operations of NYLIAC (except to the extent that assets in the Separate Account exceed the reserves and other liabilities of the Separate Account). These assets are not subject to the claims of our general creditors. The income, capital gains, and capital losses incurred on the assets of the Separate Account are credited to or are charged against the assets of the Separate Account without regard to income, capital gains, and capital losses arising out of any other business NYLIAC may conduct. Therefore, the investment performance of the Separate Account is entirely independent of the investment performance of NYLIAC's Fixed Account and the performance of any other separate account of NYLIAC.

Generally, you may invest your Net Premiums in a total of up to 20 Investment Divisions, as well as the Fixed Account, at any one time. Certain Policies associated with a nonqualified deferred compensation plan may permit allocation in a total of up to 35 Investment Divisions and the Fixed Account; contact us for more information. Premium payments allocated to the Investment Divisions are invested exclusively in the corresponding Eligible Portfolios of the Funds. While the Policy is in force, you may transfer assets between Investment Divisions.

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***Our Rights***

We may take certain actions relating to our operations and the operations of the Separate Account. We will take these actions in accordance with applicable laws, including obtaining any required approval of the SEC and any other required regulatory approvals. If necessary, we will seek approval of our policyowners.

Specifically, we reserve the right to:

&nbsp;&nbsp;&nbsp;&nbsp;● add, close, substitute, or remove any Investment Division or, at the direction of a Fund, change the name or investment objective of any Investment Division (and the shares of an associated Eligible Portfolio);

&nbsp;&nbsp;&nbsp;&nbsp;● create new separate accounts;

&nbsp;&nbsp;&nbsp;&nbsp;● combine the Separate Account with one or more other separate accounts;

&nbsp;&nbsp;&nbsp;&nbsp;● operate the Separate Account as a management investment company under the 1940 Act or in any other form permitted by law;

&nbsp;&nbsp;&nbsp;&nbsp;● deregister the Separate Account under the 1940 Act;

&nbsp;&nbsp;&nbsp;&nbsp;● manage the Separate Account under the direction of a committee or discharge such committee at any time;

&nbsp;&nbsp;&nbsp;&nbsp;● transfer the assets of the Separate Account to one or more other separate accounts;

&nbsp;&nbsp;&nbsp;&nbsp;● restrict transfers among and between investment divisions of the Separate Account and from the Fixed Account to the Investment Divisions;

&nbsp;&nbsp;&nbsp;&nbsp;● restrict or eliminate any of the voting rights of policyowners or other persons who have voting rights as to the Separate Account, in accordance with applicable law;

&nbsp;&nbsp;&nbsp;&nbsp;● change the amount of any minimum or maximum investments or additional investments; and

&nbsp;&nbsp;&nbsp;&nbsp;● change the name of the Separate Account.

We may remove an Investment Division if the shares of an Eligible Portfolio are no longer available for investment or if we, in our sole discretion, decide that investment in an Eligible Portfolio is inappropriate given the purposes of the Separate Account. A new Eligible Portfolio may have higher fees and charges than the one it replaces. We will not substitute shares attributable to your interest in an Investment Division until you have been notified of the change, as required by the 1940 Act and we have obtained any necessary regulatory approvals. We may also add new Investment Divisions and/or close one or more Investment Divisions when marketing, tax, investment, or other conditions make it appropriate. We may decide whether or not the new Investment Divisions should be made available to existing policyowners. If we make a substitution or change to the Investment Divisions, we may change your Policy to reflect such substitution or change. We will not transfer any amounts invested in an Investment Division without the policyowner's instructions, except as permitted by law.

***The Fixed Account***

The Fixed Account is supported by the assets in our General Account, which includes all of our assets except those assets specifically allocated to our various separate accounts. The Fixed Account, including the Guaranteed Minimum Interest Rate and any portion of the Life Insurance Benefits paid from the General Account, are subject to our claims-paying ability and financial strength. These assets are subject to the claims of our general creditors. We can invest the assets of the Fixed Account however we choose, within limits. Your interest in the Fixed Account is not registered under the 1933 Act and the Fixed Account is not registered as an investment company under the 1940 Act. Therefore, generally you do not have the benefits and protections of these statutes for amounts allocated to the Fixed Account. Disclosures regarding the Fixed Account, however, are subject to certain generally applicable provisions of the federal securities laws relating to the accuracy and completeness of statements made in a prospectus.

***Interest Crediting***

Any amount in the Fixed Account is credited with interest using a fixed interest rate, which we will declare periodically in advance. This rate will never be less than 3% per year.

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Interest accrues and is credited daily and is credited on each Monthly Deduction Day. All Net Premiums applied to, and amounts transferred to, less amounts withdrawn, transferred from, or charged against the Fixed Account receive the rate in effect at that time.

***CorpExec VUL IV Only:*** 

We also offer an enhanced current Fixed Account interest crediting rate for plans where the aggregate Policies allocated to the Fixed Account for Policies owned under such a plan is $5,000,000 or more on the plan issue date. Policies will also qualify for this enhancement if, on the plan anniversary in Years 2-15, the aggregate Cash Value in the Fixed Account for the Policies is at least $4,500,000.

The qualification date for each Policy under the plan for the enhanced current Fixed Account interest crediting rate is the plan anniversary date. Some Policy Anniversary dates may differ from the plan anniversary date. The enhanced current Fixed Account interest crediting rate will apply to these Policies on their respective anniversary based upon the qualification of the plan. All Policies will receive the enhanced current Fixed Account interest crediting rate for a full Policy Year.

Policies eligible for the enhanced rate will receive the following increase in the current Fixed Account crediting rate:

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| | | |
|:---|:---|:---|
| &nbsp;&nbsp;&nbsp; Policy Years | &nbsp;&nbsp;&nbsp;&nbsp; 2-5 | &nbsp;&nbsp;&nbsp;&nbsp; 0.35<br> %<br>|
| &nbsp;&nbsp;&nbsp; Policy Years | &nbsp;&nbsp;&nbsp;&nbsp; 6-8 | &nbsp;&nbsp;&nbsp;&nbsp; 0.65<br> %<br>|
| &nbsp;&nbsp;&nbsp; Policy Years | &nbsp;&nbsp;&nbsp;&nbsp; 9-10 | &nbsp;&nbsp;&nbsp;&nbsp; 0.60<br> %<br>|
| &nbsp;&nbsp;&nbsp; Policy<br> Year<br>| &nbsp;&nbsp;&nbsp;&nbsp; 11 | &nbsp;&nbsp;&nbsp;&nbsp; 0.40<br> %<br>|
| &nbsp;&nbsp;&nbsp; Policy Years | &nbsp;&nbsp;&nbsp;&nbsp; 12-13 | &nbsp;&nbsp;&nbsp;&nbsp; 0.20<br> %<br>|
| &nbsp;&nbsp;&nbsp; Policy Years | &nbsp;&nbsp;&nbsp;&nbsp; 14-15 | &nbsp;&nbsp;&nbsp;&nbsp; 0.10<br> %<br>|

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***CorpExec VUL V Only:*** 

For plans with assets allocated to the Fixed Account, we offer an enhanced current Fixed Account interest crediting rate.

The current Fixed Account crediting rate is increased by the following rates:

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| | | |
|:---|:---|:---|
| &nbsp;&nbsp;&nbsp; Policy Years | &nbsp;&nbsp;&nbsp;&nbsp; 2-5 | &nbsp;&nbsp;&nbsp;&nbsp; 0.35<br> %<br>|
| &nbsp;&nbsp;&nbsp; Policy Years | &nbsp;&nbsp;&nbsp;&nbsp; 6-8 | &nbsp;&nbsp;&nbsp;&nbsp; 0.65<br> %<br>|
| &nbsp;&nbsp;&nbsp; Policy<br> Year<br>| &nbsp;&nbsp;&nbsp;&nbsp; 9-10 | &nbsp;&nbsp;&nbsp;&nbsp; 0.60<br> %<br>|
| &nbsp;&nbsp;&nbsp; Policy Years | &nbsp;&nbsp;&nbsp;&nbsp; 11 | &nbsp;&nbsp;&nbsp;&nbsp; 0.40<br> %<br>|
| &nbsp;&nbsp;&nbsp; Policy Years | &nbsp;&nbsp;&nbsp;&nbsp; 12-13 | &nbsp;&nbsp;&nbsp;&nbsp; 0.20<br> %<br>|
| &nbsp;&nbsp;&nbsp; Policy Years | &nbsp;&nbsp;&nbsp;&nbsp; 14-15 | &nbsp;&nbsp;&nbsp;&nbsp; 0.10<br> %<br>|

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***How to Reach Us for Policy Services***

You may reach us at our Service Office, or if permitted, by telephone at (888) 695-4748, or electronically to NYLAMN_Service@newyorklife.com.

All Requests for Policy service must be in Good Order. Please review all service Request forms carefully and provide all required information as applicable to the Policy transaction. If your Request is not in Good Order, we will make every reasonable attempt to notify you in writing. It is important that you inform NYLIAC of an address change so that you can receive important statements.

Faxed or emailed Requests may be acceptable for a limited number of Policy transactions.

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***Information Systems Failures and Cybersecurity Risks***

We rely on technology, including digital communications and data storage networks and systems, to conduct our variable product business activities. Because our business, including our variable product business, is highly dependent upon the effective operation of our computer systems and those of our service providers and business partners, our business is vulnerable to disruptions from utility outages and susceptible to operational and information security risks resulting from information system failures and cyber-attacks, including ransomware. These risks also apply to other insurance and financial services companies and businesses. These risks include, among other things, the theft, misuse, corruption and destruction of data maintained online or digitally, interference with or denial of service attacks on websites and other operational disruption, and unauthorized use, abuse, and/or release of confidential customer (including policyowner and Insured) information. We have established administrative and technical controls and cybersecurity plans, including a business continuity plan, to identify, prevent and protect our operations against systems failures and cybersecurity breaches, including ransomware. Despite these controls and plans, systems failures, and cyber-attacks affecting NYLIC, NYLIAC, or any of their affiliates and other affiliated or unaffiliated third-party administrators, underlying funds, intermediaries, and other service providers and business partners may have a material, negative impact on us and your Policy Cash Value. For instance, systems failures and cyber-attacks may (i) interfere with our processing of Policy transactions (including surrenders, partial withdrawals, loans, and transfers) or with the underlying Funds or cause other operational issues; (ii) impact our ability to calculate Accumulation Unit values and your Policy's Cash Values; (iii) cause the release, loss, and/or possible destruction of confidential customer or business information; and/or (iv) subject us and/or our service providers, business partners, and intermediaries to regulatory fines, litigation, and financial losses and/or cause us reputational damage. Systems failures and cybersecurity breaches may also impact the issuers of securities in which the underlying funds invest, which may cause the funds underlying your Policy to lose value. There can be no assurance that we, or the underlying funds, or our service providers and business partners, will be able to avoid these risks at all times or avoid losses affecting your Policy due to information systems failures or cyber-attacks.

***Risks From Serious Infectious Disease Outbreaks***

Our ability to administer your Policy is subject to certain risks—common to all insurers and financial service providers—that could result from current or future outbreaks of infectious diseases, viruses (including COVID-19), epidemics, or pandemics ("serious infectious disease outbreaks"). Serious infectious diseases may spread rapidly. Serious infectious disease outbreaks—and general concerns about the course and effects of such outbreaks—not only raise serious health concerns, but may significantly disrupt economic activity in the U.S. and globally. The effects of a serious infectious disease outbreak may be short-term or last for extended time periods.

Our business activity and operations, and/or the activities and operations of our service providers and business partners, could be adversely affected or interrupted by serious infectious disease outbreaks. In order to mitigate the possible effects of these types of events, NYLIAC has established business continuity and disaster recovery plans. These plans may, for example, require our employees to work and access our information technology, communications, or other systems remotely. Notwithstanding these plans, a serious infectious disease outbreak and public health measures taken by government officials to combat an outbreak—may have a material, adverse effect on us, our ability to administer your Policy, and your Policy Cash Value. For example, a serious infectious disease outbreak or public health measures implemented to combat it may adversely affect our business and operations by (i) interfering with our processing of Policy transactions (including full surrenders, partial withdrawals, loans, and transfers) and the processing of orders from online service requests at www.newyorklife.com or with the underlying funds or cause other operational issues; (ii) delaying or interrupting our receipt of pricing or other services provided by third parties, thereby affecting, among other things our ability to calculate Accumulation Unit values and Policy cash values or to administer Policy transactions dependent on systems and services provided by third parties; (iii) preventing our workforce from being able to be physically present at one or more of our worksites or from traveling to alternative worksites needed to implement our business continuity and disaster recovery plans, thereby resulting in lengthy interruptions of service; or (iv) subjecting us and/or our service providers, business partners, and intermediaries to regulatory fines, litigation, financial losses, and/or cause us reputational damage. In addition, our operations require experienced professional staff. Loss of a substantial number of such persons or an inability to provide properly equipped places for them to work may disrupt our operations and adversely affect our business. Serious infectious disease outbreaks may also affect the issuers of securities in which the underlying funds invest, which may cause the funds underlying your Policy Cash Value to decrease in value. Serious infectious disease outbreaks may also affect market interest rates, which may affect the interest crediting rates we may declare on the

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Fixed Account under your Policy (subject to the GMIR). There can be no assurance that we, the Eligible Portfolios, the companies in which they invest, or our services providers and business partners will be able to avoid these risks at all times or avoid losses affecting your Policy due to serious infectious disease outbreaks.

***Funds and Eligible Portfolios***

The assets of each Eligible Portfolio are separate from the others and each such Eligible Portfolio has different investment objectives and policies. As a result, each Eligible Portfolio operates as a separate investment fund and the investment performance of one Eligible Portfolio has no effect on the investment performance of any other Eligible Portfolio. You can make or lose money in any of the Investment Divisions. Eligible Portfolios described in this prospectus are different from portfolios that may have similar names but are available directly to the general public. The portfolios available directly to the general public may have the same adviser, same name, same investment objectives and policies, and substantially similar portfolio securities, but still the investment performance may not be the same. You should read the Eligible Portfolio's prospectus carefully before making any decision concerning the allocation of Net Premium payments to an Investment Division corresponding to a particular Eligible Portfolio and transfers of Cash Value among the Investment Divisions.

Information regarding each of the Eligible Portfolios, including (i) its name; (ii) its type (e.g., money market fund, bond fund, balanced fund); (iii) its investment adviser and any sub-investment adviser; (iv) current expenses; and (v) performance is available in the Appendix to this Prospectus. See "Appendix—Eligible Portfolios Available Under the Policy" for a listing and information about the Eligible Portfolios. Each Eligible Portfolio has issued a prospectus that contains more detailed information about the Eligible Portfolio. You may also obtain this information at no cost by contacting us at (888) 695-4748 or emailing us at NYLAMN_Service@newyorklife.com, or by contacting your registered representative. You should read an Eligible Portfolio's prospectus carefully before making any decision about allocating Premium payments or a portion of your Policy's Cash Value to an Investment Division corresponding to that Eligible Portfolio.

**<u>We offer no assurance that any of the Eligible Portfolios will attain their respective stated investment</u> <u>objectives.</u>** 

The Eligible Portfolios' shares may be available to certain other separate accounts we use to fund our variable annuity contracts offered by NYLIAC. This is called "mixed funding." Except for the NYLIM VP Funds Trust, all Funds also make their Eligible Portfolios' shares available to separate accounts of insurance companies unaffiliated with NYLIAC. This is called "shared funding." Although we do not anticipate that any inherent difficulties will result from mixed and shared funding, it is possible that differences in tax treatment or other considerations may cause the interests of owners of various contracts participating in the Eligible Portfolios to be in conflict. In the event that any material conflicts arise from the use of the Eligible Portfolios for mixed and shared funding, we could be required to withdraw from an Eligible Portfolio. For more information about the risks of mixed and shared funding, please refer to the relevant Eligible Portfolio's prospectus.

The Funds and Eligible Portfolios offered through this product are selected by NYLIAC based on several criteria, including asset class coverage, the strength of the manager's reputation and tenure, brand recognition, performance, and the capability and qualification of each sponsoring investment firm. An affiliate of NYLIAC-New York Life Investment Management LLC-manages the NYLIM VP Funds Trust and that was a factor in its selection. Another factor that NYLIAC considers during the selection process is whether the Fund or Eligible Portfolio or an affiliate of the Fund will compensate NYLIAC for providing administrative, marketing, and support services that would otherwise be provided by the Fund, the Fund's investment adviser, or its distributor.

We also receive payments or compensation from the Funds or their investment advisers, or from other service providers of the Funds (who may be affiliates of NYLIAC) in connection with administration, distribution and other services we provide with respect to the Eligible Portfolios and their availability through the Policies. These payments may be derived, in whole or in part, from the advisory fee charged the Eligible Portfolios and deducted from their assets and/or from "Rule 12b-1" fees deducted from Eligible Portfolios' assets. These payments are also a factor in our selection of Funds and Eligible Portfolios. NYLIAC may use these payments for any corporate purpose, including payment of expenses that NYLIAC and/or its affiliates incur in promoting, marketing, and administering the Policies, and, in its role as an intermediary of the Funds. Policyowners, through their indirect investment in the Eligible Portfolios, bear the costs of these advisory and 12b-1 fees.

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The amounts we receive may be substantial, may vary by Eligible Portfolio, and may depend on how much Policy value is invested in the particular Eligible Portfolio or Fund. NYLIAC and its affiliates may profit from these payments. Currently, we receive payments or revenue under various arrangements in amounts up to 0.35% annually of the aggregate net asset value of the shares of some of the Eligible Portfolios held by the Investment Divisions. We also receive compensation under various distribution services arrangements in amounts up to 0.25% annually of the aggregate net asset value of the shares of some of the Eligible Portfolios held by the Investment Divisions. The compensation that your registered representative receives remains the same regardless of which Investment Divisions you choose or the particular arrangements applicable to those Investment Divisions.

NYLIAC's parent company, New York Life Insurance Company, may also receive fixed dollar payments for marketing and education support services and for the participation of investment advisers and sub-advisers in training and educational meetings which includes the opportunity to discuss and promote their Funds.

NYLIAC does not provide investment advice and does not recommend or endorse any particular Eligible Portfolio or Portfolios. NYLIAC is not responsible for choosing the Investment Divisions or the amounts you allocate to each. You are responsible for determining that these decisions are appropriate for your own individual circumstances and your investment goals, financial situation, and risk tolerance. Decisions regarding investment allocations should be carefully considered. **You bear the risk of any decline in the value of your Policy resulting from the performance of the Eligible Portfolios you have chosen**. You should consult with your registered representative to determine which combination of Allocation Alternatives is most appropriate for you, and periodically review your choices.

Certain Eligible Portfolios, generally referred to as "funds of funds" or "master-feeder arrangements," may invest all or substantially all of their assets in portfolios of other funds. In such cases, you will indirectly pay fees and expenses at both portfolio levels, which would reduce your investment return.

Hedging strategies may be employed by certain Eligible Portfolios to attempt to provide downside protection during sharp downward movements in equity markets. The cost of these strategies could limit the upside participation of the portfolio in rising equity markets relative to other portfolios.

So-called "alternative" investment strategies may also be used by certain Eligible Portfolios, which may involve non-traditional asset classes. These alternative investment strategies may be riskier than more traditional investment strategies and may involve leverage or use complex hedging techniques, such as options and derivatives. These may offer potential diversification benefits beyond traditional investment strategies.

In addition, some of the Eligible Portfolios may use what are known as "volatility management strategies." Volatility management strategies are designed to reduce the overall volatility and provide risk-adjusted returns over time. During rising markets, a volatility management strategy, however, could cause your Policy Cash Value to rise less than would have been the case had you been invested in a fund with substantially similar investment objectives, policies and strategies that does not utilize a volatility management strategy. Conversely, investing in a fund that features a volatility management strategy may be helpful in a declining market when high market volatility triggers a reduction in the fund's equity exposure, because during these periods of high volatility, the risk of losses from investing in equity securities may increase. In these instances, your Policy's Cash Value may decline less than would have been the case had you not been invested in a fund that features a volatility management strategy. The success of the volatility management strategy of a fund depends, in part, on the investment adviser's ability to effectively and efficiently implement its risk forecasts and to manage the strategy for the fund's benefit. In addition, the cost of implementing a volatility management strategy may negatively impact performance. There is no guarantee that a volatility management strategy can achieve or maintain the fund's optimal risk targets, and the fund may not perform as expected. Any negative impact to the performance of a fund due to a volatility management strategy may limit increases in your Cash Value. For more information about the Eligible Portfolios and the investment strategies they employ, please refer to the Eligible Portfolios' current prospectuses.

Investment selections should be based on a thorough investigation of all of the information regarding the Eligible Portfolios that is available to you, including their prospectuses, statements of additional information, and annual and semi-annual reports. Other sources, such as the Fund's website, provide more current information, including information about any regulatory actions or investigations relating to a Fund or Eligible Portfolio. After you select Investment Divisions for your initial Premium, you should monitor and periodically reevaluate your allocations to see if they are still appropriate.

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The Investment Divisions invest in the corresponding Eligible Portfolios. Generally, you can allocate Net Premium payments or transfer Cash Value to a maximum of 20 Investment Divisions, as well as to the Fixed Account for Net Premium payments. (Certain Policies associated with a nonqualified deferred compensation plan may permit allocation among up to 35 Investment Divisions and the Fixed Account; contact us for more information.) You can transfer all or part of the Cash Value of your Policy among the Allocation Alternatives tax-free within the limits described in this Prospectus.

***Money Market Fund Fees and Gates***

The SEC has adopted rules that provide that institutional prime and institutional tax-exempt money market funds are required to impose liquidity fees and other money market funds are permitted to impose discretionary liquidity fees under certain circumstances. The liquidity fees can be up to 2% of the amount redeemed. Institutional prime and tax-exempt money market funds are subject to mandatory liquidity fees (which could be applied to all Policy transfers, surrenders, partial withdrawals, and benefit payments from that portfolio) when net redemptions exceed 5% of net assets.

Government money market funds (that invest at least 99.5% of their assets in government securities, cash, and/or repurchase agreements secured by government securities) are permitted to impose a discretionary liquidity fee but are less likely to impose such fees. Nevertheless, there remains a possibility that a government money market fund such as the NYLIM VP U.S. Government Money Market Portfolio and Fidelity<sup>®</sup> VIP Government Money Market Portfolio could impose such fees, which could be applied to all Policy transfers, surrenders, partial withdrawals, and benefit payments from the Portfolio.

***Reinvestment***

We automatically reinvest all dividends and capital gains distributions from Eligible Portfolios in additional shares of the distributing Portfolio at their net asset value on the date the dividends or distributions are paid.

***Investment Return***

The investment return of a Policy is based on:

&nbsp;&nbsp;&nbsp;&nbsp;● the number of Accumulation Units you have in each Investment Division of the Separate Account, the amount you have in the Fixed Account, and the amount you have in the Loan Account;

&nbsp;&nbsp;&nbsp;&nbsp;● the investment experience of each Investment Division as measured by its actual net rate of return; and

&nbsp;&nbsp;&nbsp;&nbsp;● the interest rate we credit on the amount you have in the Fixed Account and/or Loan Account. The Loan Account will be credited with interest at a rate that will never be less than the greater of (i) the Effective Annual Loan Interest Rate, less 2.00%; or (ii) the Fixed Account GMIR.

<u>For CorpExec VUL II:</u> The investment experience of an Investment Division reflects increases or decreases in the net asset value of the shares of the underlying Eligible Portfolio, any dividend or capital gains distributions declared by the Fund, and the Policy's Mortality and Expense Risk Charge. These investment returns do not reflect any other Policy charges, and, if they did, the returns shown would be reduced.

<u>For CorpExec VUL III, IV, and V:</u> The investment experience of an Investment Division reflects increases or decreases in the net asset value of the shares of the underlying Eligible Portfolio, and any dividend or capital gains distributions declared by the Fund. These investment returns do not reflect any other Policy charges, and, if they did, the returns shown would be reduced.

We will credit any amounts in the Fixed Account and Loan Account with a fixed interest rate that we declare periodically, in advance, and at our sole discretion. This rate will never be less than an annual rate of 3%. We may credit different interest rates to amounts in the Fixed Account and Loan Account. All Net Premiums applied to the Fixed Account and amounts transferred to the Fixed Account and Loan Account receive the applicable rate in effect on the Business Day we receive the Premium payment or process the transfer. Interest rates for subsequent Premium payments into the Fixed Account may be different from the rate applied to prior Premium payments made into the Fixed Account. Interest rates will fluctuate for the entirety of holdings in the Fixed Account.

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Funds may lose value; are not guaranteed; are not a deposit; are not FDIC/National Credit Union Administration insured; and are not insured by any government agency.

***Performance Calculations***

From time to time, we may advertise the performance of the Investment Divisions. These performance figures do not include contract or separate account charges such as the Monthly Contract Charge, Sales Expense Charge, State and Federal Premium tax charges, monthly Cost of Insurance Charge, Mortality and Expense Risk Charges, or rider charges.

Performance data for the Investment Divisions may be compared in advertisements, sales literature or other marketing materials, and reports to shareholders, to: (i) the investment returns on various mutual funds, stocks, bonds, certificates of deposit, tax free bonds, or common stock and bond indexes; and (ii) other groups of variable life insurance separate accounts or other investment products tracked by Lipper Analytical Services or Morningstar Inc. (both of which are widely used independent research firms that rank mutual funds and other investment companies by overall performance, investment objectives, and assets), or tracked by other services, companies, publications, or persons who rank such investment companies on overall performance or other criteria.

Neither NYLIC nor NYLIAC guarantees the investment performance of the Investment Divisions.

We may also advertise a hypothetical illustration of Policy values, including all contract charges.

***Voting***

We will vote the Eligible Portfolio shares that the Investment Divisions of the Separate Account hold at any regular and special shareholder meetings of the Funds. We will vote these shares according to the instructions we receive from our policyowners who have invested their Premiums in Investment Divisions that invest in the Fund holding the meeting. However, if the law changes to allow us to vote the shares in our own right, we may decide to do so.

We may, if required by state insurance regulations, disregard voting instructions if they would require shares to be voted so as to cause a change in the sub-classification or investment objectives of one or more of the available Investment Divisions or to approve or disapprove an investment advisory contract for an Eligible Portfolio. In addition, we may disregard voting instructions that would require changes in the investment policy or investment adviser of one or more of the Eligible Portfolios associated with the available Investment Divisions, provided that we reasonably disapprove such changes in accordance with applicable federal or state regulations. If we disregard policyowner voting instructions, we will advise policyowners of our action and the reasons for such action in the next available annual or semi-annual report.

While your Policy is in effect, you can provide voting instructions to us for each Investment Division in which you have assets. The number of votes you are entitled to will be determined by dividing the units you have invested in an Investment Division by the net asset value per unit for the Eligible Portfolio underlying that Investment Division.

We will determine the number of votes you are entitled to on the date established by the underlying Fund for determining shareholders that are eligible to vote at the meeting of the relevant Fund. We will send you voting instructions prior to the meeting according to the procedures established by the Fund. We will send proxy materials, reports, and other materials relating to the Fund to each person having a voting interest.

We will vote the Fund shares for which we do not receive timely instructions, and any other shares that we (or our affiliates) own in our own right, in the same proportion as the shares for which we receive timely voting instructions. As a result, because of proportional voting, a small number of policyowners may control the outcome of the vote.

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**Charges Associated with the Policy**

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As with all life insurance policies, certain charges apply under the Policy. The following is a summary explanation of these charges.

***Deductions From Premium Payments***

When we receive a Premium payment from you, whether Planned or Unplanned, we will deduct a Sales Expense Charge, a State Premium Tax Charge, and a Federal Premium Tax Charge.

*Sales Expense Charge*

A Sales Expense Charge is deducted from each Planned and Unplanned Premium payment when that payment is received. We reserve the right to increase this charge in the future, but it will never exceed the maximums stated below. The amount of the Sales Expense Charge in a Policy Year is not necessarily related to our actual sales expenses for that particular year. To the extent that the Sales Expense Charge does not cover sales expenses, they will be recovered from NYLIAC surplus, including any amounts derived from any Monthly Deduction Charges.

***CorpExec VUL II:*** 

**Current—**The Sales Expense Charge is deducted as follows:

During the first Policy Year, we currently deduct a Sales Expense Charge of 13.75% from any Premiums paid up to and including the Target Premium. Once the Target Premium for that Policy Year has been reached, we expect to deduct a Sales Expense Charge of 1.25% from any additional Premiums paid in that Policy Year.

During each of Policy Years two through seven, we currently expect to deduct a Sales Expense Charge of 9.75% from any Premiums paid up to and including the Target Premium. Once the Target Premium for that Policy Year has been reached, we expect to deduct a Sales Expense Charge of 0.75% from any additional Premiums paid in that Policy Year.

During each of Policy Years eight through ten, we currently expect to deduct a Sales Expense Charge of 2.75% from any Premiums paid up to the Target Premium. Once the Target Premium for that Policy Year has been reached, we expect to deduct a Sales Expense Charge of 0.25% from any additional Premiums paid in that Policy Year.

Beginning in the eleventh Policy Year, we currently expect to deduct a Sales Expense Charge of 1.75% from any Premiums paid up to the Target Premium for a given Policy Year. Once the Target Premium for that Policy Year has been reached, we currently expect to deduct a Sales Expense Charge of 0.25% from any additional Premiums paid in that Policy Year.

***CorpExec VUL III and IV:*** 

**Current—**The Sales Expense Charge is deducted as follows:

During the first Policy Year, we currently deduct a Sales Expense Charge of 10.75% from any Premiums paid up to and including the Target Premium. Once the Target Premium for that Policy Year has been reached, we do not deduct a sales expense charge from any additional Premiums paid in that Policy Year.

During each of Policy Years two through five, we currently expect to deduct a Sales Expense Charge of 5.75% from any Premiums paid up to and including the Target Premium. Once the Target Premium for that Policy Year has been reached, we do not expect to deduct a Sales Expense Charge from any additional Premiums paid in that Policy Year.

During each of Policy Years six and seven, we currently expect to deduct a Sales Expense Charge of 4.75% from any Premiums paid up to and including the Target Premium. Once the Target Premium for that Policy Year has been reached, we do not expect to deduct a Sales Expense Charge from any additional Premiums paid in that Policy Year.

Beginning in the eighth Policy Year, we currently expect to deduct a Sales Expense Charge of 1.75% from any Premiums paid up to and including the Target Premium for a given Policy Year. Once the Target Premium for that

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Policy Year has been reached, we currently do not expect to deduct a Sales Expense Charge from any additional Premiums paid in that Policy Year.

***CorpExec VUL V:*** 

**Current—**The Sales Expense Charge is deducted as follows:

During the First Policy Year, we currently deduct a Sales Expense Charge of 14.00% from any Premiums paid up to and including the Target Premium. Once the Target Premium for the First Policy Year has been reached, we expect to deduct a Sales Expense Charge of 1.00% from any additional Premiums paid in that Policy Year.

During each of Policy Years two through five, we currently expect to deduct a Sales Expense Charge of 10.00% from any Premiums paid up to and including the Target Premium. Once the Target Premium for that Policy Year has been reached, we do not expect to deduct a Sales Expense Charge from any additional Premiums paid in Policy Years two through five.

During each of Policy Years six and seven, we currently expect to deduct a Sales Expense Charge of 1.75% from any Premiums paid up to and including the Target Premium for that Policy Year. Once the Target Premium for either such Policy Year has been reached, we do not expect to deduct a Sales Expense Charge from any additional Premiums paid in such Policy Year.

Beginning in the eighth Policy Year, we do not currently expect to deduct a Sales Expense Charge from any Premiums paid.

***CorpExec VUL II, III, IV, and V:*** 

**Guaranteed maximum—**We may increase the Sales Expense Charge in the future, at our discretion, but not above the guaranteed maximum. During the first Policy Year, we guarantee that any Sales Expense Charge we deduct will never exceed 14.00% of any Premiums paid up to the Target Premium. Once the Target Premium for that Policy Year has been reached, we will never deduct a Sales Expense Charge of more than 3.00% from any additional Premiums in that Policy Year. During Policy Years 2-7, we guarantee that any Sales Expense Charge we deduct will never exceed 10.00% of any Premiums paid up to the Target Premium. Once the Target Premium for that Policy Year has been reached, we will never deduct a Sales Expense Charge of more than 3.00% from any additional Premiums in that Policy Year. Beginning in the eighth Policy Year, we guarantee that any Sales Expense Charge we deduct will never exceed 5.00% of any Premiums paid up to the Target Premium. Once the Target Premium for that Policy Year has been reached, we will never deduct a Sales Expense Charge of more than 3.00% from any additional Premiums paid in that Policy Year.

The Target Premium, as shown on the Policy Data Pages, is based on factors that include, but are not limited to, Insured's Issue Age, gender, and the Face Amount of the Policy or, for policyowners who have elected a term rider, on the Target Face Amount of the Policy. Any change to the Policy which results in a change to the Face Amount or Target Face Amount, will change the Target Premium.

*State Premium Tax Charge*

Various states and jurisdictions impose a tax on premium payments received by insurance companies. State Premium Tax rates vary from state to state and currently range from 0% to 3.50% (and sometimes higher in certain jurisdictions).

We may increase this charge to reflect changes in applicable law. In Oregon, this charge is referred to as a "State Premium Tax Charge Back," and the rate may not be changed for the life of the Policy. The amount we deduct for the State Premium Tax charge may not reflect the actual Premium Tax charge in your state. Two percent (2.00%) represents the approximate average of taxes assessed by the jurisdictions. We will not impose a State Premium Tax Charge greater than 2.00% unless there is a change in applicable law.

***CorpExec VUL II:*** 

We currently deduct 2.00% of each Premium payment you make.

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***CorpExec VUL III and IV:*** 

We currently deduct 2.00% of each Premium payment you make up to the Target Premium and 1.75% on the amount paid over the Target Premium.

***CorpExec VUL V:*** 

We currently deduct 2.00% of each Premium payment you make up to the Target Premium and 1.75% on the amount paid over the Target Premium. Beginning in the eighth Policy Year, we currently expect to deduct 1.50% of each Premium payment you make up to the Target Premium and 1.50% on the amount paid over the Target Premium, as a State Premium Tax Charge.

*Federal Premium Tax Charge*

NYLIAC's Federal Tax obligations will increase based upon Premium payments received under the Policies. We may increase this charge to reflect changes in applicable law. We will not impose a Federal Premium Tax charge greater than 1.25%, unless there is a change in applicable law.

***CorpExec VUL II, III and IV:*** 

We deduct 1.25% of each Premium payment you make.

***CorpExec VUL V:*** 

During the first seven Policy Years, we currently deduct 1.25% of each Premium payment you make. Beginning in the eighth Policy Year, we expect to deduct 1.00% of each Premium payment you make.

***Deductions From Cash Value***

Each month, for CorpExec VUL II Policies we deduct a Monthly Contract Charge and a Cost of Insurance charge (which will include a charge for the cost of any additional riders, if selected by the policyowner) and, for CorpExec VUL III, IV, and V Policies, we deduct a Monthly Contract Charge, a Cost of Insurance Charge (which will include a charge for the cost of any additional riders, if selected by the policyowner) and a Mortality and Expense Risk Charge. We deduct these charges on the Monthly Deduction Day. The first Monthly Deduction Day will be the monthly anniversary of the Policy Date on or following the Issue Date. If the Policy Date is prior to the Issue Date, the deductions made on the first Monthly Deduction Day will cover the period from the Policy Date until the first Monthly Deduction Day. We deduct these charges from the Policy's Cash Value in each Investment Division and the Fixed Account in accordance with the expense charge allocation you made in the Policy application. If no expense charge allocation is in effect, monthly deductions will be made pro-rata from each of the Investment Divisions and the Fixed Account.

*Monthly Contract Charge*

On each Monthly Deduction Day, we will deduct a Monthly Contract Charge to cover the costs for providing certain administrative services, including collecting Premiums, record-keeping, processing claims, and communicating with policyowners. This charge is not designed to produce a profit. To the extent that the proceeds of this charge are insufficient to cover the costs of providing these services, we may use the proceeds of other charges under this Policy, including the Mortality and Expense Risk Charge, to pay for these services.

***CorpExec VUL II:*** 

We currently deduct a Monthly Contract Charge of $5.00 ($60.00 per year).

We guarantee that this charge will never exceed $9.00 ($108.00 per year) in all Policy Years.

***CorpExec VUL III, IV, and V:*** 

We currently deduct a Monthly Contract Charge of $0 in Policy Year 1 and $5.00 thereafter ($60.00 per year).

We guarantee that this charge will never exceed $9.00 ($108.00 per year) in all Policy Years.

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*Cost of Insurance Charge*

On each Monthly Deduction Day, we will deduct the Cost of Insurance charge from the Cash Value of your Policy for the cost of providing a Life Insurance Benefit to you. This charge equals (a) multiplied by the result of (b) minus (c), where:

&nbsp;&nbsp;&nbsp;&nbsp;(a) is the applicable cost of insurance rate per $1,000 of insurance;

&nbsp;&nbsp;&nbsp;&nbsp;(b) is the number of thousands of Life Insurance Benefit as of the Monthly Deduction Day divided by 1.0032737; and for

***CorpExec VUL II:*** 

&nbsp;&nbsp;&nbsp;&nbsp;(c) is the number of thousands of Alternative Cash Surrender Value as of the Monthly Deduction Day (before this Cost of Insurance charge, but after the Monthly Contract Charge and any charges for riders are deducted).

***CorpExec VUL III, IV, and V:*** 

&nbsp;&nbsp;&nbsp;&nbsp;(c) is the number of thousands of Alternative Cash Surrender Value as of the Monthly Deduction Day (before this Cost of Insurance charge, but after the Mortality and Expense Risk Charge, the Monthly Contract Charge, and any charges for riders are deducted).

The Net Amount at Risk is (b) minus (c).

The Cost of Insurance charge will never be less than zero.

The Life Insurance Benefit varies based on the Life Insurance Option chosen. The Cash Value varies based upon the performance of the Investment Divisions selected, interest credited to the Fixed Account and Loan Account, Policy Debt, charges, and Premium payments. We determine the initial rate of the Cost of Insurance charge based upon our underwriting of your Policy. Underwriting determinations are based on various factors including, but not limited to, the Insured's age, sex, class of risk, Policy Year, and Face Amount. We may change these rates from time to time, based on changes in future expectations of various factors, including, but not limited to, mortality, investment income, expenses, and persistency.

For Insureds rated sub-standard risks, an additional Flat Extra may be assessed as part of the Cost of Insurance charge due to an Insured's circumstances including, but not limited to, his or her medical condition, occupation, or motor vehicle or aviation record. Any additional Flat Extras (which might apply to certain Insureds based on our underwriting) will also be deducted on each Monthly Deduction Day. If applicable, the amount and duration of these additional Flat Extras will be displayed on your Policy Data Pages. The cost of insurance rates, however, will never exceed the guaranteed maximum cost of insurance rates for your Policy.

We will no longer deduct Cost of Insurance charges after the Insured reaches Attained Age 100.

*Mortality and Expense Risk Charge*

We assume a mortality risk that the group of lives we have insured under our policies may, on average, not live as long as we have expected. In addition, we assume an expense risk that the cost of issuing and administering the policies we have sold will be greater than what we have estimated.

***CorpExec VUL II:*** 

**Current—**We currently deduct a daily Mortality and Expense Risk Charge from the NAV of each Investment Division that is equal to an annual rate of 0.25%, or $2.50 per $1,000, of the average daily Accumulation Value.

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***CorpExec VUL III and IV:*** 

**Current—**We currently deduct on each Monthly Deduction Day from the Policy's Cash Surrender Value a Mortality and Expense Risk Charge that is equal to the following annual rates: 0.25% in Policy Year 1, or $2.50 per $1,000; 0.45% in Policy Years 2 through 25, or $4.50 per $1,000; and 0.25% in Policy Years 26 and following, or $2.50 per $1,000, of the Accumulation Value.

***CorpExec VUL V:*** 

**Current—**We currently deduct on each Monthly Deduction Day from the Policy's Cash Surrender Value a Mortality and Expense Risk Charge that is equal to the following annual rates: 0.50% in Policy Years 1 through 10, or $5.00 per $1,000, and 0.25% in Policy Years 11 and following, or $2.50 per $1,000, of the Accumulation Value.

***CorpExec VUL II, III, IV, and V:*** 

**Guaranteed Maximum—**We guarantee that the Mortality and Expense Risk Charge will never exceed an annual rate of 0.90%, or $9.00 per $1,000, of the average daily Accumulation Value.

We may increase or decrease the current Mortality and Expense Risk Charge if the mortality risk profile of policyowners changes, or if a change in law, regulation, or administrative interpretation thereof affects our cost of doing business including, without limitation, a change that eliminates a tax benefit or deduction that increases our after-tax cost of doing business, or if our costs of doing business change for any other reason. However, the Mortality and Expense Risk Charge will never exceed the guaranteed maximum. We will notify policyowners at least 30 days before the change by prospectus supplement and letter.

If the current charge is insufficient to cover actual costs and assumed risks, the loss will fall on NYLIAC. We expect to profit from this charge. We may use these funds for any corporate purpose, including expenses relating to the sale of the Policies, to the extent that they are not adequately covered by the Sales Expense Charge.

*Rider Charges*

Each month, if you elected an optional rider, the cost of the rider is included in the monthly Cost of Insurance charge. (For more information about specific riders' charges, see "Table of Fees and Expenses.")

***Separate Account Charges***

*Charges for Federal Income Taxes*

We do not currently deduct a charge for federal income taxes from the Investment Divisions, although we may do so in the future to reflect possible changes in the law.

*Fund Charges*

Each Investment Division of the Separate Account purchases shares of the corresponding Eligible Portfolio at the Accumulation Unit value. The Accumulation Unit value reflects the investment advisory fees and other expenses that are deducted from the assets of the corresponding Eligible Portfolio. The advisory fees and other expenses are not fixed or specified under the terms of the Policy and may vary from year to year. These fees and expenses are described in the Funds' prospectuses. See "Appendix—Eligible Portfolios Available Under the Policies" and https://dfinview.com/NewYorkLife/TAHD/corpexec-ii-v.

Certain Eligible Portfolios may also impose liquidity or redemption fees on surrenders and partial withdrawals (including transfers) pursuant to SEC Rules including Rules 2a-7 or 22c-2 under the 1940 Act. In such cases, we would administer these fees and deduct them from your Cash Value or Policy transaction proceeds.

*Partial Withdrawal Processing Fee*

When you make a partial withdrawal, we reserve the right to deduct a fee, not to exceed $25, for processing the partial withdrawal. Currently, we do not charge a fee when you make a partial withdrawal.

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*Fund Transfer Charge*

We currently do not charge for transfers made between Investment Divisions. However, we reserve the right to charge $30 per transfer for any transfer in excess of 12 in a Policy Year.

***Loan Charges***

We currently charge an Effective Annual Loan Interest Rate of 4.00%, payable in arrears. The maximum loan interest rate we will charge is 6.00%. When you Request a loan, an amount equal to the requested loan amount is transferred from the Allocation Alternatives to the Loan Account and this amount is added to any Policy Debt.

When you take a loan against your Policy, the loaned amount that we hold in the Loan Account may earn interest at a different rate from the rate we charge you for loan interest. For the first 10 Policy Years, the rate we currently expect to credit on loaned amounts is 0.50% less than the rate we charge for loan interest. Beginning in the eleventh Policy Year, the rate we currently expect to credit on loaned amounts is 0.25% less than the rate we charge for loan interest. The amount in the Loan Account will be credited with interest at a rate that will never be less than the greater of (1) the Effective Annual Loan Interest Rate, less 2.00%; or (2) the Fixed Account GMIR. Interest accrues daily and is credited on the Monthly Deduction Day. These rates are not guaranteed and we can change them at any time, subject to the above-mentioned minimums. (See "Loans" for more information.)

***Commissions Paid to Dealers***

The selling broker-dealer, and in turn your registered representative, will receive compensation for selling you this Policy or any other insurance or investment product. Compensation may consist of commissions, asset-based compensation, allowances for expenses, and other compensation programs. The amount of compensation received by your registered representative will vary depending on the Policy that he or she sells, on sales production goals, and on the specific payment arrangements of the relevant broker-dealer. Differing compensation arrangements have the potential to influence the recommendations made by your registered representative or broker-dealer.

Commission rates will vary depending on whether the STR has been added. Compensation rates for Policies with the same initial Life Insurance Benefit are lower for Policies with the STR added than for Policies without the STR. This could influence your registered representative's advice to you about the relative amounts of base Policy and term insurance coverage you should purchase.

Broker-dealers will be paid commission not to exceed 30% of Premiums paid up to the Target Premium in Policy Year 1, 12.5% for Policy Years 2-7, and 1.5% for Policy Years 8-10. In addition, we pay broker-dealers a maximum of 4% commission on Premiums paid in excess of the Target Premium for Policy Years 1-4 and 1.5% for Policy Years 5-10.

Service entities, which may be affiliates of broker-dealers, may also receive service fees and/or compensation based on a percentage of a Policy's Cash Surrender Value, less any Policy loans, beginning in Policy Year 2. The percentages are not expected to exceed 0.20% in Policy Years 2 and beyond.

The commissions, service fees and other compensation described above is not deducted directly from your Policy's cash value. Rather NYLIAC and its affiliates pay these expenses from the Sales Expense Charges, other charges under the Policies and other resources.

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***How the Policy Works – Example***

***CorpExec VUL II:*** 

This example is based on the charges applicable to a Policy during the first Policy Year, issued on a guaranteed issue basis, non-smoking insured male, issue age 45, with an initial Face Amount of $400,000, with a Target Premium of $22,564, who has selected Life Insurance Benefit Option 1 and the Cash Value Accumulation Test, assuming current charges and a 6.00% hypothetical gross annual investment return, which results in a net annual effective investment return of 5.02% for all years:

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| | | |
|:---|:---|:---|
|  | Premium Paid | $7000 |
| less: | Below Target Premium Sales Expense Charge | $963 |
|  | Above Target Premium Sales Expense Charge | $0 |
|  | State Premium Tax Charge (2%) | $140 |
|  | Federal Premium Tax Charge (1.25%) | $88 |
| equals: | Net Premium | $5809 |
| less: | Monthly contract charge (5.00 per month) | $60 |
| less: | Charges for cost of insurance (varies monthly) | $635 |
| plus: | Net investment performance (varies daily) | $273 |
| equals: | Cash Value | $5387 |
| plus: | DPL Account | $1190 |
| equals: | Alternative Cash Surrender Value (as of end of first Policy Year) | $6577 |

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There is no guarantee that the current charges illustrated above will continue. Depending on the timing and degree of fluctuation in actual investment returns, the actual Policy values could be substantially more or less than those shown. A lower value, under certain circumstances, could result in the lapse of the Policy unless the policyowner pays more than the stated Premium.

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***CorpExec VUL III:*** 

This example is based on the charges applicable to a Policy during the first Policy Year, issued on a guaranteed issue basis, non-smoking Insured male, issue age 45, with an initial Face Amount of $400,000, with a Target Premium of $22,564, who has selected Life Insurance Benefit Option 1 and the Cash Value Accumulation Test, assuming current charges and a 6.00% hypothetical gross annual investment return, which results in a net annual effective investment return of 5.28% for all years:

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| | | |
|:---|:---|:---|
|  | Premium Paid | $7000 |
| less: | Below Target Premium Sales Expense Charge | $753 |
|  | Above Target Premium Sales Expense Charge | $0 |
|  | State Premium Tax Charge (2%) | $140 |
|  | Federal Premium Tax Charge (1.25%) | $88 |
| equals: | Net Premium | $6019 |
| less: | Mortality and Expense Risk charge (varies monthly) | $15 |
| less | Monthly contract charge (5.00 per month in Policy Years 2 and following) | $0 |
| less | Charges for cost of insurance (varies monthly) | $254 |
| plus: | Net investment performance (varies daily) | $310 |
| equals: | Cash Value | $6060 |
| plus: | DPL Account | $980 |
| equals: | Alternative Cash Surrender Value (as of end of first Policy Year) | $7040 |

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There is no guarantee that the current charges illustrated above will continue. Depending on the timing and degree of fluctuation in actual investment returns, the actual Policy values could be substantially more or less than those shown. A lower value, under certain circumstances, could result in the lapse of the Policy unless the policyowner pays more than the stated Premium.

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***CorpExec VUL IV:*** 

This example is based on the charges applicable to a policy during the First Policy Year, issued on a guaranteed issue basis, non-smoking Insured male, issue age 45, with an initial Face Amount of $400,000, with a Target Premium of $22,564, who has selected Life Insurance Benefit Option 1 and the Cash Value Accumulation Test, assuming current charges and a 6.00% hypothetical gross annual investment return, which results in a net annual effective investment return of 5.28% for all years:

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| | | |
|:---|:---|:---|
|  | Premium Paid | $7000 |
| less: | Below Target Premium Sales Expense Charge | $753 |
|  | Above Target Premium Sales Expense Charge | $0 |
|  | State Premium Tax Charge (2%) | $140 |
|  | Federal Premium Tax Charge (1.25%) | $88 |
| equals: | Net Premium | $6019 |
| less: | Mortality and Expense Risk charge (varies monthly) | $15 |
| less | Monthly contract charge (5.00 per month in Policy Years 2 and following) | $0 |
| less | Charges for cost of insurance (varies monthly) | $254 |
| plus: | Net investment performance (varies daily) | $310 |
| equals: | Cash Value | $6060 |
| plus: | DPL Account | $1078 |
| equals: | Alternative Cash Surrender Value (as of end of first Policy Year) | $7138 |

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There is no guarantee that the current charges illustrated above will continue. Depending on the timing and degree of fluctuation in actual investment returns, the actual Policy values could be substantially more or less than those shown. A lower value, under certain circumstances, could result in the lapse of the Policy unless the policyowner pays more than the stated Premium.

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***CorpExec VUL V:*** 

This example is based on the charges applicable to a Policy during the First Policy Year, issued on a guaranteed issue basis, non-smoking insured male, issue age 45, with an initial Face Amount of $400,000, with a Target Premium of $22,564, who has selected Life Insurance Benefit Option 1 and the Cash Value Accumulation Test, assuming current charges and a 6.00% hypothetical gross annual investment return, which results in a net annual effective investment return of 5.28% for all years:

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| | | |
|:---|:---|:---|
|  | Premium Paid | $7000 |
| less: | Below Target Premium Sales Expense Charge | $980 |
|  | Above Target Premium Sales Expense Charge | $0 |
|  | State Premium Tax Charge (2%) | $140 |
|  | Federal Premium Tax Charge (1.25%) | $88 |
| equals: | Net Premium | $5792 |
| less: | Mortality and Expense Risk charge (varies monthly) | $29 |
| less | Monthly contract charge (5.00 per month in Policy Years 2 and following) | $0 |
| less | Charges for cost of insurance (varies monthly) | $254 |
| plus: | Net investment performance (varies daily) | $298 |
| equals: | Cash Value | $5807 |
| plus: | DPL Account | $1328 |
| equals: | Alternative Cash Surrender Value (as of end of first Policy Year) | $7135 |

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There is no guarantee that the current charges illustrated above will continue. Depending on the timing and degree of fluctuation in actual investment returns, the actual Policy values could be substantially more or less than those shown. A lower value, under certain circumstances, could result in the lapse of the Policy unless the policyowner pays more than the stated Premium.

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**Description of the Policy**

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***The Parties***

There are three important parties to the Policy: the **policyowner** (or contract owner), the **Insured,** and the **beneficiary** (or payee). One party can have one or more of these roles. Each party plays an important role in a Policy.

**<u>POLICYOWNER</u>:** This person (persons) or entity can purchase and surrender a Policy, and can make changes to it, such as:

&nbsp;&nbsp;&nbsp;&nbsp;● increase/decrease the Face Amount

&nbsp;&nbsp;&nbsp;&nbsp;● choose a different Life Insurance Benefit (except that a change cannot be made to Option 3)

&nbsp;&nbsp;&nbsp;&nbsp;● elect/add/terminate riders

&nbsp;&nbsp;&nbsp;&nbsp;● change a beneficiary

&nbsp;&nbsp;&nbsp;&nbsp;● choose/change underlying Allocation Alternatives

&nbsp;&nbsp;&nbsp;&nbsp;● take a loan against or take a partial withdrawal from the Cash Value of the Policy.

The current policyowner has the right to transfer ownership to another party/entity. This must be done using our approved "Transfer of Ownership" form in effect at the time of the Request. Please note that the completed Transfer of Ownership form must be sent to our Service Office in Good Order. When we record the change, it will take effect as of the date the form was signed, subject to any payment made or other action we take before recording. Federal law requires all financial institutions to obtain, verify and record information that identifies each person who becomes the owner of an existing Policy. A transfer of ownership Request on any variable product requires that the new owner(s) submit financial and suitability information. In addition, following certain types of ownership transfer, you may not be eligible to receive the Alternative Cash Surrender Value upon surrender. For more information about Alternative Cash Surrender Value eligibility, please see "Surrenders—Full Surrenders—Requesting a Surrender."

**<u>INSURED</u>:** An Insured's personal information determines the cost of the life insurance coverage and whether the Life Insurance Proceeds become payable.

**<u>BENEFICIARY</u>:** The beneficiary is the person(s) or entity(ies) the policyowner specifies on our records to receive the Life Insurance Proceeds from the Policy. If the policyowner is an individual, he or she may name his or her estate as the beneficiary.

The parties named as policyowner and beneficiary may affect whether and to what extent the Life Insurance Proceeds may be received on a tax-free basis. See the discussion under "Federal Income Tax Considerations—Life Insurance Status of Policy" and "—IRC Section 101(j)—Impact on Employer-Owned Policies" for more information.

***The Policy***

The Policy provides life insurance protection on the named Insured. We will pay the designated beneficiary the Life Insurance Proceeds if the Policy is still in effect when the Insured dies.

The Policy offers:

&nbsp;&nbsp;&nbsp;&nbsp;1. flexible Premium payments where you decide the timing and amount of the payment;

&nbsp;&nbsp;&nbsp;&nbsp;2. a choice of three Life Insurance Benefit options;

&nbsp;&nbsp;&nbsp;&nbsp;3. access to the Policy's Cash Value through loans and partial withdrawal privileges (within limits);

&nbsp;&nbsp;&nbsp;&nbsp;4. the ability to increase or decrease the Policy's Face Amount of insurance (within limits);

&nbsp;&nbsp;&nbsp;&nbsp;5. additional benefits through the use of optional riders; and

&nbsp;&nbsp;&nbsp;&nbsp;6. a selection of Allocation Alternatives, including Investment Divisions and a Fixed Account with a GMIR.

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Your Policy will stay in effect as long as the Cash Surrender Value of your Policy is sufficient to pay your Policy's monthly deductions.

*How the Policy Is Available*

The Policy is available only as a Non-Qualified Policy. This means that the Policy is not available for use in connection with certain employee retirement plans that qualify for special treatment under the federal tax law. The minimum Face Amount of a Policy is $25,000. The policyowner may increase the Face Amount, subject to our underwriting rules in effect at the time of the Request. The Insured may not be older than age 85 as of the Policy Date or the date of any increase in Face Amount. Before issuing any Policy (or increasing its Face Amount), the policyowner must give us satisfactory evidence of insurability.

We may issue the Policy based on underwriting rules and procedures, which are based on NYLIAC's eligibility standards. These may include guaranteed issue and full medical underwriting. Under certain arrangements, if our procedures permit guaranteed issue underwriting, the cost of insurance rates are higher for healthy individuals when this method of underwriting is used than under a substantially similar policy that is issued based on full medical underwriting. Therefore, Insureds in good health may be able to obtain coverage more economically under a policy that requires full medical underwriting.

We may issue the Policy on a unisex basis in certain states where applicable. For Policies issued on a unisex basis, the policyowner should disregard any reference in this prospectus that makes a distinction based on the gender of the Insured.

*Policy Premiums*

Once you have purchased your Policy, you can make Premium payments as often as you like and for any amount you choose, within limits. Other than the initial Premium, there are no required Premium payments. However, **you may need to make additional Premium payments to keep your Policy from lapsing**. The currently available methods of payment are: direct payments to NYLIAC and any other method to which we agree. (See "Premiums" for more information.)

*Cash Value*

After the free look period has expired, or after we receive your Policy delivery receipt, whichever is later, the Cash Value of the Policy at any time is the sum of the Accumulation Value in the Separate Account, plus the value in the Fixed Account and the Loan Account. A number of factors affect your Policy's Cash Value, including, but not limited to:

&nbsp;&nbsp;&nbsp;&nbsp;● the amount and frequency of the Premium payments;

&nbsp;&nbsp;&nbsp;&nbsp;● the investment experience of the Investment Divisions you choose;

&nbsp;&nbsp;&nbsp;&nbsp;● the interest credited on the amount in the Fixed Account;

&nbsp;&nbsp;&nbsp;&nbsp;● the amount of any partial withdrawals you make (including any charges you incur as a result of such surrenders); and

&nbsp;&nbsp;&nbsp;&nbsp;● the amount of charges we deduct.

*Cash Surrender Value*

The Cash Surrender Value equals the Cash Value less Policy Debt.

*Alternative Cash Surrender Value*

The Alternative Cash Surrender Value is equal to the Cash Value of the Policy, plus the value of the DPL Account. You are eligible to receive the ACSV provided the Policy has not been assigned, and the owner has not been changed, unless that change (1) was the result of a merger or acquisition and the successor owner was your wholly owned subsidiary or a corporation under which you were a wholly owned subsidiary on the date ownership changed, or (2) was to a trust established by you for the purposes of providing employee benefits. The DPL Account is not

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available to support Monthly Deduction Charges or for purposes of a loan or partial withdrawal. The Alternative Cash Surrender Value is not available during the Right to Examine period.

***Investment Divisions and the Fixed Account***

We allocate your Net Premium among your selected Investment Divisions, each of which invests in a specific Eligible Portfolio, available under the Policy (See "Appendix—Eligible Portfolios Available Under the Policy" for our list of available Eligible Portfolios) and/or the Fixed Account, based on your instructions. Generally, you can allocate your Net Premium among up to 20 Investment Divisions at any one time, as well as to the Fixed Account. Certain Policies associated with a nonqualified deferred compensation plan may permit allocation among up to 35 Allocation Alternatives, including the Fixed Account; contact us for more information.

*Amount in the Separate Account*

We use the amount allocated to an Investment Division to purchase Accumulation Units within that Investment Division. We redeem Accumulation Units from an Investment Division when amounts are loaned, transferred, partially withdrawn, fully surrendered, or deducted for charges or loan interest. We calculate the number of Accumulation Units purchased or redeemed in an Investment Division by dividing the dollar amount of the Policy transaction by the Investment Division's Accumulation Unit value. On any given day, the amount you have in the Separate Account is the value of the Accumulation Units you have in all of the Investment Divisions of the Separate Account. The value of the Accumulation Units you have in a given Investment Division equals the current Accumulation Unit value for the Investment Division multiplied by the number of Accumulation Units you hold in that Investment Division.

*Determining The Value Of An Accumulation Unit*

We calculate the value of an Accumulation Unit at the end of each Business Day. We determine the value of an Accumulation Unit by multiplying the value of that unit on the prior Business Day by the net investment factor.

***CorpExec VUL II:*** 

The net investment factor we use to calculate the value of an Accumulation Unit in any Investment Division is ((a) divided by (b)) minus (c), where:

&nbsp;&nbsp;&nbsp;&nbsp;(a) is the net asset value of an Eligible Portfolio share, unit, or interest held in the Separate Account for that Investment Division determined at the end of the current Business Day on which we calculate the Accumulation Unit value, plus the per share, unit, or interest amount of any dividends paid or capital gain distributions made by the Eligible Portfolio if the ex-dividend date occurs since the end of the immediately preceding Business Day on which we calculate an Accumulation Unit value for that Investment Division; and

&nbsp;&nbsp;&nbsp;&nbsp;(b) is the net asset value of an Eligible Portfolio share, unit, or interest held in the Separate Account for that Investment Division determined as of the end of the immediately preceding Business Day on which we calculated an Accumulation Unit value for that Investment Division; and

&nbsp;&nbsp;&nbsp;&nbsp;(c) is the Mortality and Expense Risk Charge. This charge is deducted on a daily basis. It is currently equal to an annual rate of 0.25% of the average daily Accumulation Value of each Investment Division's assets.

***CorpExec VUL III, IV, and V:*** 

The net investment factor we use to calculate the value of an Accumulation Unit in any Investment Division is (a) divided by (b), where:

&nbsp;&nbsp;&nbsp;&nbsp;(a) is the net asset value of an Eligible Portfolio share, unit, or interest held in the Separate Account for that Investment Division determined at the end of the current Business Day on which we calculate the Accumulation Unit value, plus the per share, unit, or interest amount of any dividends paid or capital gain distributions made by the Eligible Portfolio if the ex-dividend date occurs since the end of the immediately preceding Business Day on which we calculate an Accumulation Unit value for that Investment Division; and

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

&nbsp;&nbsp;&nbsp;&nbsp;(b) is the net asset value of an Eligible Portfolio share, unit, or interest held in the Separate Account for that Investment Division determined as of the end of the immediately preceding Business Day on which we calculated an Accumulation Unit value for that Investment Division.

The net investment factor may be greater or less than one. Therefore, the value of an Accumulation Unit may increase or decrease.

*Amount in the Fixed Account*

If your Policy was issued before May 1, 2012, you can choose to allocate all or part of your Net Premium payments to the Fixed Account. If your Policy was issued on or after May 1, 2012, we can limit the amount of Net Premium (and Cash Value) that may be allocated to the Fixed Account, including not allowing any Premium to be allocated to the Fixed Account. Until further notice, you may continue to allocate Net Premium to the Fixed Account according to the percentage allocation that was in effect as of April 20, 2020 (the "Current Allocation"). You may increase your allocation of Net Premium to the Fixed Account, but your Net Premium Allocation percentage will be capped at an additional 5 percentage points over the lower of: (1) the Current Allocation; or (2) the lowest Net Premium allocation percentage that you select, if you subsequently reduce your Net Premium allocation percentage below the Current Allocation.

For example, if the Current Allocation is 10%, you may increase your allocation of Net Premium to the Fixed Account to a maximum percentage of 15%. However, if you reduce your allocation of Net Premium to the Fixed Account to 7% thereafter, the maximum percentage of Net Premium that you may allocate to the Fixed Account will be reduced to 12%, and subsequent increases in your Net Premium allocation percentage will not increase your maximum allocation percentage.

Any limitations on transfers are described in "Transfers Among Investment Divisions and the Fixed Account" below.

The amount you have in the Fixed Account equals:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) the sum of the Net Premium payments you have allocated to the Fixed Account;

plus

(2) any transfers you have made from the Separate Account to the Fixed Account;

plus

(3) any interest credited to the Fixed Account;

less

&nbsp;&nbsp;&nbsp;&nbsp;(4) any partial withdrawals you have taken from the Fixed Account;

less

&nbsp;&nbsp;&nbsp;&nbsp;(5) any charges we have deducted from the Fixed Account;

less

&nbsp;&nbsp;&nbsp;&nbsp;(6) any transfers you have made from the Fixed Account to the Separate Account or to the Loan Account.

*Transfers Among Investment Divisions and the Fixed Account*

There is no charge for the first twelve transfers in any one Policy Year. NYLIAC may apply a transfer charge, which will not exceed $30 for each transfer in excess of twelve per Policy Year. This charge will be applied on a pro-rata basis to the Allocation Alternatives to which the transfer is being made. **Transfer Requests must be submitted to our Service Office**.

*Transfers among Investment Divisions and from the Investment Divisions to the Fixed Account:* 

You may transfer all or part of the Cash Value among Investment Divisions or from an Investment Division to the Fixed Account. Transfers may also be made from the Fixed Account to the Investment Divisions, subject to the following conditions:

&nbsp;&nbsp;&nbsp;&nbsp;● *Minimum Transfer*—Unless we agree otherwise, the minimum amount that may be transferred is the lesser of: (i) $500 or (ii) the value of the Accumulation Units in the Investment Division from which the transfer is being made.

&nbsp;&nbsp;&nbsp;&nbsp;● *Minimum Remaining Value*—After the transfer, the value of: (i) the remaining Accumulation Units in an Investment Division or (ii) the Fixed Account must be at least $500. If the remaining value would be less than $500, we have the right to include that amount as part of the transfer.

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Transfers to or from the Investment Divisions will be made based on the Accumulation Unit values on the Business Day on which NYLIAC receives the transfer Request. Transfers received after the close of the NYSE (usually 4 p.m. Eastern Time) on a Business Day, or on a non-Business Day, will be priced as of the next Business Day.

*Transfers from the Fixed Account to the Investment Divisions:* 

You may make one transfer from the Fixed Account to the Investment Divisions, subject to the following three conditions:

&nbsp;&nbsp;&nbsp;&nbsp;● *Maximum Transfer*—The maximum amount you can transfer from the Fixed Account to the Investment Divisions during any Policy Year is the greater of (i) 20% of the amount in the Fixed Account at the beginning of the Policy Year, (ii) the previous Policy Year's transfer amount, or (iii) $5,000. During the retirement year (i.e., the Policy Year following the Insured's 65th birthday or a date you indicate in the application), or another date you Request and we approve, the 20% maximum transfer limitation will not apply for a one-time transfer.

&nbsp;&nbsp;&nbsp;&nbsp;● *Minimum Transfer*—Unless we agree otherwise, the minimum amount that may be transferred is $500.

&nbsp;&nbsp;&nbsp;&nbsp;● *Minimum Remaining Value*—After the transfer, the value remaining in the Fixed Account must be at least $500. If the remaining value would be less than $500, we have the right to include that amount as part of the transfer. (This will apply even in cases where we have limited the maximum that you may transfer, as stated above).

***Limits On Transfers***

*Procedures Designed to Limit Potentially Harmful Transfers*—This Policy is not intended as a vehicle for market timing. Generally, we require that all transfer Requests be submitted through the U.S. mail or an overnight carrier. We may permit, in certain limited circumstances for a limited category of policies, transfer Requests to be submitted by fax or e-mail transmission. These requirements are designed to limit potentially harmful transfers.

Your ability to make transfers under the Policy is subject to limitation if we determine, in our sole opinion, that the exercise of that privilege may disadvantage or potentially hurt the rights or interests of other policyowners.

Any modification of the transfer privilege could be applied to transfers to or from some or all of the Investment Divisions. If not expressly prohibited by the Policy, we may, for example:

&nbsp;&nbsp;&nbsp;&nbsp;● reject a transfer Request from you or from any person acting on your behalf;

&nbsp;&nbsp;&nbsp;&nbsp;● restrict the method of making a transfer;

&nbsp;&nbsp;&nbsp;&nbsp;● charge you for any redemption fee imposed by an underlying Fund; and/or

&nbsp;&nbsp;&nbsp;&nbsp;● limit the dollar amount, frequency or number of transfers.

We do not include the following transfers in these limitations, although we reserve the right to include them in the future: transfers to and from the Fixed Account, the first transfer into the Investment Divisions at the expiration of the free look period, the first transfer out of the NYLIM VP U.S. Government Money Market Investment Division or Fidelity<sup>®</sup> VIP Government Money Market Portfolio or within six months of the issuance of a Policy immediately after funds have been transferred to the NYLIM VP U.S. Government Money Market Investment Division or Fidelity<sup>®</sup> VIP Government Money Market Portfolio at the expiration of the free look period, and transfers made pursuant to the Dollar Cost Averaging and Automatic Asset Reallocation options.

**We may change these limitations or restrictions or add new ones at any time without prior notice; your Policy will be subject to these changes regardless of the Issue Date of your Policy.** All transfers are subject to the limits set forth in the prospectus in effect on the date of the transfer Request, regardless of when your Policy was issued. Note, also, that any applicable transfer rules, either as indicated above or that we may utilize in the future, will be applied even if we cannot identify any specific harmful effect from any particular transfer.

We apply our limits on transfers procedures to all owners of this Policy without exception.

Orders for the purchase of Eligible Portfolio shares are subject to acceptance by the relevant Fund. We will reject or reverse, without prior notice, any transfer Request into an Investment Division if the purchase of shares in the

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corresponding Eligible Portfolio is not accepted by the Fund for any reason. For transfers into multiple Investment Divisions, the entire transfer Request will be rejected or reversed if any part of it is not accepted by any one of the Funds or is restricted for any reason. Transfer Requests must be sent to our Service Office. Standing allocation instructions into a Fund that has been restricted will also be rejected, reversed or modified until further allocation instructions are received from you. For transfers through the Dollar Cost Averaging programs, the restricted portion of the transfer will be temporarily allocated to the Fidelity<sup>®</sup> VIP Government Money Market Portfolio. For Automatic Asset Reallocation, the whole program may be terminated or suspended if any portion of the transfer is to a restricted Fund. We will provide you with written notice of any transfer Request we reject, reverse, or modify. You should read the Eligible Portfolios' prospectuses for more details regarding their ability to refuse or restrict purchases or redemptions of their shares. In addition, pursuant to Rule 22c-2 of the 1940 Act, a Fund may require us to share specific policyowner transactional data with them, such as taxpayer identification numbers and transfer information.

*Risks Associated with Potentially Harmful Transfers*—Our transfer procedures are designed to limit potentially harmful transfers. However, we cannot guarantee that our procedures will be effective in detecting and preventing all transfer activity that could disadvantage or potentially hurt the rights or interests of other policyowners. The risks described below apply to policyowners and other persons having material rights under the Policies.

&nbsp;&nbsp;&nbsp;&nbsp;● We do not currently impose redemption fees on transfers or expressly limit the number or maximum amount of transfers in a given period. Redemption fees, transfer limits, and other procedures or restrictions may be more or less successful than our procedures in deterring or preventing potentially harmful transfer activity.

&nbsp;&nbsp;&nbsp;&nbsp;● Our ability to detect and deter potentially harmful transfer activity may be limited by Policy provisions.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) The underlying Eligible Portfolios may have adopted their own policies and procedures with respect to trading of their respective shares. The prospectuses for the underlying Eligible Portfolios, in effect at the time of any trade, describe any such policies and procedures. The trading policies and procedures of an underlying Eligible Portfolio may vary from ours and be more or less effective at preventing harm. Accordingly, the sole protection you may have against potentially harmful frequent transfers is the protection provided by the procedures described herein.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2) The purchase and redemption orders received by the underlying Eligible Portfolios reflect the aggregation and netting of multiple orders from owners of this Policy and other variable policies we issue. The nature of these combined orders may limit the underlying Eligible Portfolios' ability to apply their respective trading policies and procedures. In addition, if an underlying Eligible Portfolio believes that a combined order we submit may reflect one or more transfer Requests from owners engaged in potentially harmful transfer activity, the underlying Eligible Portfolio may reject the entire order and thereby prevent us from implementing any transfers that day. We do not generally expect this to happen.

&nbsp;&nbsp;&nbsp;&nbsp;● Other insurance companies that invest in the Eligible Portfolios underlying this Policy may have adopted their own policies and procedures to detect and prevent potentially harmful transfer activity. The policies and procedures of other insurance companies may vary from ours and be more or less effective at preventing harm. If their policies and procedures fail to successfully discourage potentially harmful transfer activity, there could be a negative effect on the owners of all of the variable policies, including ours, whose Investment Divisions correspond to the affected underlying Eligible Portfolios.

&nbsp;&nbsp;&nbsp;&nbsp;● Potentially harmful transfer activity could result in reduced performance results for one or more Investment Divisions, due to, among other things:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) an adverse effect on management of the underlying Eligible Portfolio, such as:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a)

impeding the portfolio manager's ability to sustain an investment objective;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b)

causing the Eligible Portfolio to maintain a higher level of cash than would otherwise be the case; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;c)

causing the Eligible Portfolio to liquidate investments prematurely (or at an otherwise inopportune time) to pay partial surrenders or transfers out of the underlying Eligible Portfolio.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2) increased administrative and brokerage expenses.

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&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) dilution of the interests of long-term investors in an Investment Division if purchases or redemptions into or out of the underlying Eligible Portfolio are made when, and if, the underlying Eligible Portfolio's investments do not reflect an accurate value (sometimes referred to as "time-zone arbitrage" and "liquidity arbitrage").

***Additional Benefits Through Riders and Options***

You can apply for additional benefits by selecting policy options and/or an optional rider. We approve the issuance of a rider based on our standards and limits for issuing insurance and classifying risks. An additional "Term Insurance Benefit" is provided by a rider and is subject to the terms of both the Policy and the rider. The policyowner may select either the Supplementary Term Rider ("STR") or the Level Term Rider ("LTR"), but not both riders. Also, the STR is not available to policyowners who elect the Guideline Premium Test (see "Premiums—Premium Payments" for more information). If desired, the riders must have been elected at the time the Policy application was completed. Unlike the STR (which adjusts to maintain a targeted Life Insurance Benefit in combination with the base Policy), the LTR provides for a level amount of Term Insurance Benefit in addition to the base Policy as shown on the Policy Data Pages. Dollar Cost Averaging and Automatic Asset Reallocation are options that are available without any additional ongoing costs. The following policy options and riders are currently available.

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| | | | |
|:---|:---|:---|:---|
| **Name of Benefit** | **Purpose** | **Is this Benefit Standard or** <br> **Optional?**<br>| **Brief Description of** <br> **Restrictions/Limitations**<br>|
| **Dollar Cost** <br> **Averaging (DCA)**<br>| DCA is a systematic method <br> of investing that allows you <br> to purchase shares of the <br> Investment Divisions at <br> regular intervals in fixed <br> dollar amounts so that the <br> cost of your shares is <br> averaged over time and over <br> various market cycles. There <br> is no charge for electing <br> DCA.<br>| Optional | &nbsp;&nbsp;&nbsp; To set up DCA, in addition to <br> sending a completed DCA <br> form to our Service Office in <br> Good Order, you must <br> specify:<br>•the dollar amount you want <br> to have transferred <br> (minimum transfer $100);<br>•the Investment Division <br> from which you want to <br> transfer money;<br>•the Investment Division(s) <br> and/or Fixed Account to <br> which you want to transfer <br> money;<br>•the date on which you want <br> the transfers to be made, <br> within limits; and<br>•how often you would like <br> the transfers made, either <br> monthly, quarterly, <br> semi-annually, or annually.<br> You may not make DCA <br> transfers from the Fixed <br> Account, but you may <br> make DCA transfers into <br> the Fixed Account, subject <br> to any limits specified in <br> the section, "Description of <br> the Policy—Investment <br> Divisions and the Fixed <br> Account—Transfers Among <br> Investment Divisions and <br> the Fixed Account."<br> You may elect this option if <br>|

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| | | | |
|:---|:---|:---|:---|
| **Name of Benefit** | **Purpose** | **Is this Benefit Standard or** <br> **Optional?**<br>| **Brief Description of** <br> **Restrictions/Limitations**<br>|
|  |  |  | &nbsp;&nbsp;&nbsp; your Cash Value is $2,500 <br> or more. We will suspend <br> this option automatically if <br> the Cash Value is less than <br> $2,000 on a transfer date. <br> Once the Cash Value <br> equals or exceeds $2,000, <br> the DCA transfers will <br> resume automatically as <br> last requested.<br> You cannot elect Automatic <br> Asset Reallocation if you <br> have chosen DCA. <br> However, you have the <br> option of alternating <br> between these two Policy <br> options.<br>|
| **Automatic Asset** <br> **Reallocation (AAR)**<br>| If you choose this option, we <br> will reallocate your assets <br> automatically on a schedule <br> you select among the <br> Investment Divisions to <br> maintain a predetermined <br> percentage invested in the <br> Investment Division(s) you <br> have selected. For example, <br> you could specify that 50% of <br> the amount you have in the <br> Investment Divisions of the <br> Separate Account be <br> allocated to one Investment <br> Division, while the other 50% <br> be allocated to another <br> Investment Division. Over <br> time, however, performance <br> variations in each of these <br> Investment Divisions would <br> cause this balance to shift. <br> There is no charge for <br> electing AAR.<br>| Optional | &nbsp;&nbsp;&nbsp; •Values in the Fixed <br> Account are excluded from <br> AAR.<br>•Your AAR will be cancelled <br> if a premium allocation <br> change or Investment <br> Division transfer is <br> submitted on your behalf <br> and the AAR is not also <br> modified at the time to be <br> consistent with your <br> Investment Division <br> transfer and premium <br> allocation changes.<br>•You may elect this option if <br> your Cash Value in your <br> Separate Account is <br> $2,500 or more. We will <br> suspend this option <br> automatically if your Cash <br> Value in the Separate <br> Account is less than <br> $2,000 on a reallocation <br> date. Once your Cash <br> Value in the Separate <br> Account equals or exceeds <br> this amount, AAR will <br> resume automatically as <br> scheduled.<br>•You cannot elect AAR if <br> you have chosen DCA. <br> However, you have the <br> option of alternating <br> between these two Policy <br> options.<br>|

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| | | | |
|:---|:---|:---|:---|
| **Name of Benefit** | **Purpose** | **Is this Benefit Standard or** <br> **Optional?**<br>| **Brief Description of** <br> **Restrictions/Limitations**<br>|
| **Loans** | You may borrow any amount <br> up to the Loan Value of the <br> Policy. The value in the Loan <br> Account will never be less <br> than (a + b) – c, where: a = <br> the amount in the Loan <br> Account on the prior Policy <br> Anniversary; b = the amount <br> of any loan taken since the <br> prior Policy Anniversary; and <br> c = any loan amount repaid <br> since the prior Policy <br> Anniversary.<br>| Optional | &nbsp;&nbsp;&nbsp; •Loan requests are subject <br> to the Minimum <br> Redemption amount of <br> $500 per Investment <br> Division<br>•When you take a loan <br> against your Policy, the <br> loaned amount that we <br> hold in the Loan Account is <br> charged an Effective <br> Annual Loan Interest Rate <br> of 4.00%. The maximum <br> loan interest rate that we <br> will charge is 6.00%.<br>•When you take a loan <br> against your Policy, the <br> loaned amount that we <br> hold in the Loan Account <br> may also earn interest. <br> These rates may be <br> different from those we <br> charge you for loan <br> interest. They are not <br> guaranteed, and we can <br> change them at any time <br> subject to the minimums <br> described above.<br> (See "Charges Associated <br> with the Policy—Loan <br> Charges"; "Loans", <br> "Loans—Interest Credited <br> on the Cash Value Held as <br> Collateral for a Policy <br> Loan"; and "Table of Fees <br> and Expenses—Periodic <br> Charges Other than <br> Eligible Portfolios' <br> Operating <br> Expenses—Loan Interest" <br> for more information.)<br>|
| **Supplementary** <br> **Term Rider (STR)**<br>| The STR provides a Term <br> Insurance Benefit, which <br> when added to the Base <br> Policy Face Amount, creates <br> a Target Face Amount. The <br> Term Insurance Benefit is <br> payable when the Insured <br> dies while the STR is in <br> effect. The Term Insurance <br> Benefit can be: increased or <br> decreased to change the <br> Target Face Amount; or<br>| Optional | &nbsp;&nbsp;&nbsp; •Only available at issue.<br> •Not available to <br> policyowners who elect the <br> Guideline Premium Test.<br>•Target Face Amount may <br> not be decreased to an <br> amount below $26,000, <br> unless the decrease is due <br> to a partial withdrawal <br> under the Policy.<br>•Rider Face Amount may <br> not exceed 10 times the <br>|

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| | | | |
|:---|:---|:---|:---|
| **Name of Benefit** | **Purpose** | **Is this Benefit Standard or** <br> **Optional?**<br>| **Brief Description of** <br> **Restrictions/Limitations**<br>|
|  | converted to increase the <br> Policy Face Amount.<br>|  | &nbsp;&nbsp;&nbsp; base Policy's Face <br> Amount.<br>|
| **Level Term Rider** <br> **(LTR)**<br>| This LTR provides a Term <br> Insurance Benefit, which <br> when added to the Base <br> Policy Face Amount, creates <br> a Target Face Amount. The <br> Term Insurance Benefit is <br> payable when the Insured <br> dies while the LTR is in <br> effect. The Term Insurance <br> Benefit can be: increased or <br> decreased; or converted to <br> increase the Policy Face <br> Amount.<br>| Optional | &nbsp;&nbsp;&nbsp; •Only available at issue.<br> •Total of the Term Insurance <br> Benefit and the Face <br> Amount of the base Policy <br> may not be decreased to <br> an amount below <br> $150,000, unless the <br> decrease is due to a partial <br> withdrawal under the <br> Policy.<br>•The Term Insurance <br> Benefit may not exceed 10 <br> times the base Policy's <br> Face Amount.<br>|

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*Dollar Cost Averaging* 

Dollar Cost Averaging is a systematic method of investing that allows you to purchase shares of the Investment Divisions at regular intervals in fixed dollar amounts so that the cost of your shares is averaged over time and over various market cycles. To set up Dollar Cost Averaging, you must send a completed Dollar Cost Averaging form to our Service Office in Good Order. There is no charge for electing Dollar Cost Averaging.

The main objective of Dollar Cost Averaging is to achieve an average cost per share that is lower than the average price per share in a fluctuating market. Because you transfer the same dollar amount to a given Investment Division with each transfer, you purchase more units in an Investment Division if the value per unit is low and fewer units if the value per unit is high. Therefore, you may achieve a lower than average cost per unit if prices fluctuate over the long term. Similarly, for each transfer out of an Investment Division, you sell more units in an Investment Division if the value per unit is low and fewer units if the value per unit is high. Dollar Cost Averaging does not assure growth or protect against a loss in declining markets.

We do not count Dollar Cost Averaging transfers against any limitations we may impose on the number of free transfers. We will make all Dollar Cost Averaging transfers on the date you specify, or if the date you specify is not a Business Day, on the next Business Day. You may specify any day of the month other than the 29th, 30th, or 31st of a month. We will not process a Dollar Cost Averaging transfer unless we have received a Request. We must receive this Request at least five Business Days before the date Dollar Cost Averaging transfers are scheduled to begin. If your Request for this option is received less than five Business Days prior to the date you request it to begin, the transfer(s) will begin on the date you have specified in the month following receipt of your Request.

You may cancel the Dollar Cost Averaging option at any time. To cancel the Dollar Cost Averaging option, we must receive a Request. You may not elect Dollar Cost Averaging if you have chosen Automatic Asset Reallocation. However, you have the option of alternating between these two Policy features.

*Automatic Asset Reallocation (AAR)* 

As noted above, if you choose this option, we will reallocate your assets automatically on a schedule you select among the Investment Divisions to maintain a predetermined percentage invested in the Investment Division(s) you have selected. To set up AAR, you must send a completed AAR form to our Service Office in Good Order. For example, you could specify that 50% of the amount you have in the Investment Divisions of the Separate Account be allocated to one Investment Division, while the other 50% be allocated to another Investment Division. Over time, however, performance variations in each of these Investment Divisions would cause this balance to shift. With the AAR option, we will reallocate the amount you have in the Separate Account among the Investment Divisions you have selected so that they are invested in the percentages you specify.

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We will make AAR transfers either quarterly, semi-annually, or annually (but not monthly), based on your Policy Anniversary. If your Policy Anniversary is on the 29th, 30th, or 31st of a month, the reallocation transfer will occur on the 28th of the month. AAR transfers may be canceled subject to the terms outlined in the Table above. To process AAR transfers, or to cancel or modify an existing AAR, you must send a Request. NYLIAC must receive your Request no later than five Business Days prior to the date the transfer(s) are scheduled to begin. If your Request for this option is received less than five Business Days prior to the date you request it to begin, the transfer(s) will begin on the date you have specified in the month following receipt of your Request.

There is no minimum amount which you must allocate among the Investment Divisions under this option. We do not count AAR transfers against any limitations we may impose on the number of free transfers.

*Supplementary Term Rider* 

This rider provides a Term Insurance Benefit that is payable when the Insured dies while this rider is in effect. It insures the same individual covered by the base Policy. On the Issue Date, the Term Insurance Benefit is the amount specified in the application. The initial Term Insurance Benefit is shown on the Policy Data Pages. The initial Term Face Amount, when added to the initial Face Amount of the base Policy, equals the initial Target Face Amount, which is also shown on the Policy Data Pages.

As described under the "Policy Payment Information—Life Insurance Benefit Options" section, the Life Insurance Benefit amount could automatically increase or decrease. In such case, the Term Insurance Benefit will automatically be adjusted.

On each Monthly Deduction Day beginning with the second, the Term Insurance Benefit will automatically be set in accordance with the Life Insurance Benefit Option that is in effect on the Policy as follows:

&nbsp;&nbsp;&nbsp;&nbsp;● Option 1—The Term Insurance Benefit will equal the Target Face Amount minus the Life Insurance Benefit.

&nbsp;&nbsp;&nbsp;&nbsp;● Option 2—The Term Insurance Benefit will equal the Target Face Amount plus the Alternative Cash Surrender Value minus the Life Insurance Benefit.

&nbsp;&nbsp;&nbsp;&nbsp;● Option 3—The Term Insurance Benefit will equal the Target Face Amount plus the Cumulative Premium Amount minus the Life Insurance Benefit.

However, if on a Monthly Deduction Day, the Term Insurance Benefit is automatically reduced to zero, the STR will still remain in force. If the Policy's Life Insurance Benefit subsequently decreases as described in Section 1.3 of the Policy, the Term Insurance Benefit will again be adjusted based on the Life Insurance Benefit Option specified.

Within certain limits, the policyowner may:

&nbsp;&nbsp;&nbsp;&nbsp;● Increase or decrease the Term Insurance Benefit, which will result in a corresponding change to the Target Face Amount; and/or

&nbsp;&nbsp;&nbsp;&nbsp;● Convert the STR to increase the Face Amount of the base Policy. The Target Face Amount of the Policy after this conversion will be the same as the Target Face Amount of the Policy before the conversion.

The policyowner may request changes to the Policy under the STR if:

&nbsp;&nbsp;&nbsp;&nbsp;(a) the Target Face Amount is not decreased to an amount below $26,000, unless the decrease is due to a partial withdrawal under the Policy.

&nbsp;&nbsp;&nbsp;&nbsp;(b) the Term Insurance Benefit does not exceed 10 times the base Policy's Face Amount. This requirement prohibits the policyowner from either increasing the Term Insurance Benefit or decreasing the base Policy's Face Amount to an amount that would violate this maximum ratio.

Coverage under the STR ends on the earliest of:

&nbsp;&nbsp;&nbsp;&nbsp;(a) the Monthly Deduction Day on or next following our receipt of the policyowner's signed Request to cancel the rider,

&nbsp;&nbsp;&nbsp;&nbsp;(b) the Policy Anniversary on which the Insured's Attained Age is or would have been 100, as required by law,

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

&nbsp;&nbsp;&nbsp;&nbsp;(c) the date the STR is fully converted, or

&nbsp;&nbsp;&nbsp;&nbsp;(d) the date the base Policy ends or is surrendered.

*Examples:* 

***CorpExec VUL II*** 

The following illustrates the benefit available under a Policy with the STR, assuming an Initial Term Face Amount of $100,000 as part of a Target Face Amount of $200,000, issued on a male Insured, aged 45, Non-Smoker, guaranteed issue, who dies at the beginning of Policy Year 10 under the rider, where Death Benefit Option 1 has been selected and Premium payments of $4,795 have been paid annually for seven years.

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| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Policy Year** | &nbsp;&nbsp;&nbsp; **Annual Cost**<br> **of Insurance**<br> **Charge**<br>| &nbsp;&nbsp;&nbsp; **Total Cost**<br> **of Insurance**<br> **Charge**<br>| &nbsp;&nbsp;&nbsp; **Annual**<br> **Rider**<br> **Charge**<br>| &nbsp;&nbsp;&nbsp; **Total**<br> **Rider**<br> **Charge**<br>| &nbsp;&nbsp;&nbsp; **Life**<br> **Insurance**<br> **Benefit Paid**<br>| &nbsp;&nbsp;&nbsp; **Term**<br> **Insurance**<br> **Benefit Paid**<br>|
| 1 | $62.04 | $62.04 | $9.60 | $9.60 | $0 | $0 |
| 2 | $66.89 | $128.93 | $20.40 | $30.00 | $0 | $0 |
| 3 | $95.96 | $224.89 | $33.60 | $63.60 | $0 | $0 |
| 4 | $128.40 | $353.29 | $63.60 | $127.20 | $0 | $0 |
| 5 | $138.60 | $491.89 | $96.00 | $223.20 | $0 | $0 |
| 6 | $144.48 | $636.37 | $229.20 | $452.40 | $0 | $0 |
| 7 | $151.11 | $787.48 | $354.00 | $806.40 | $0 | $0 |
| 8 | $166.01 | $953.49 | $510.00 | $1316.40 | $0 | $0 |
| 9 | $177.08 | $1130.57 | $536.40 | $1852.80 | $0 | $0 |
| 10 | $0.00 | $1130.57 | $0.00 | $1852.80 | $100000 | $100000 |

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***CorpExec VUL III, IV, and V*** 

The following illustrates the benefit available under a Policy with the STR, assuming an Initial Term Face Amount of $100,000 as part of a Target Face Amount of $200,000, issued on a male Insured, aged 45, Non-Smoker, guaranteed issue, who dies at the beginning of Policy Year 10 under the rider, where Death Benefit Option 1 has been selected and Premium payments of $5,641 have been paid annually for seven years.

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| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Policy Year** | &nbsp;&nbsp;&nbsp; **Annual Cost**<br> **of Insurance**<br> **Charge**<br>| &nbsp;&nbsp;&nbsp; **Total Cost**<br> **of Insurance**<br> **Charge**<br>| &nbsp;&nbsp;&nbsp; **Annual**<br> **Rider**<br> **Charge**<br>| &nbsp;&nbsp;&nbsp; **Total**<br> **Rider**<br> **Charge**<br>| &nbsp;&nbsp;&nbsp; **Life**<br> **Insurance**<br> **Benefit Paid**<br>| &nbsp;&nbsp;&nbsp; **Term**<br> **Insurance**<br> **Benefit Paid**<br>|
| 1 | $61.54 | $61.54 | $0.00 | $0.00 | $0 | $0 |
| 2 | $65.79 | $127.33 | $27.60 | $27.60 | $0 | $0 |
| 3 | $93.45 | $220.78 | $50.40 | $78.00 | $0 | $0 |
| 4 | $123.60 | $344.38 | $79.20 | $157.20 | $0 | $0 |
| 5 | $131.58 | $475.96 | $114.00 | $271.20 | $0 | $0 |
| 6 | $134.04 | $610.00 | $164.40 | $435.60 | $0 | $0 |
| 7 | $136.29 | $746.29 | $226.80 | $662.40 | $0 | $0 |
| 8 | $148.92 | $895.21 | $295.20 | $957.60 | $0 | $0 |
| 9 | $157.91 | $1053.12 | $320.40 | $1278.00 | $0 | $0 |
| 10 | $0.00 | $1053.12 | $0.00 | $1278.00 | $100000 | $100000 |

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*Level Term Rider* 

This rider provides a Term Insurance Benefit that is payable when the Insured dies while this rider is in effect. It insures the same individual covered by the base Policy. On the Issue Date, the Term Insurance Benefit of this rider is the amount specified in the application and is shown on the Policy Data Pages.

Within certain limits, the policyowner may:

&nbsp;&nbsp;&nbsp;&nbsp;● Increase or decrease the Term Insurance Benefit of the rider; and/or

&nbsp;&nbsp;&nbsp;&nbsp;● Convert this rider to increase the Face Amount of policyowner's base Policy.

If the LTR is in effect, the policyowner may request changes to the base Policy if:

&nbsp;&nbsp;&nbsp;&nbsp;(a) the total of the Term Insurance Benefit of this rider and the Face Amount of the base Policy is not decreased to an amount below $150,000 unless the decrease is due to a partial withdrawal under the base Policy.

&nbsp;&nbsp;&nbsp;&nbsp;(b) the Face Amount of the rider does not exceed 10 times the base Policy's Face Amount. This requirement prohibits the policyowner from either increasing the Term Insurance Benefit of the rider or decreasing the base Policy's Face Amount to an amount that would violate this maximum ratio.

Coverage under the LTR ends on the earliest of:

&nbsp;&nbsp;&nbsp;&nbsp;(a) the Monthly Deduction Day on or next following our receipt of the policyowner's signed Request to cancel the LTR,

&nbsp;&nbsp;&nbsp;&nbsp;(b) the Policy Anniversary on which the Insured's Attained Age is or would have been 100, as required by law,

&nbsp;&nbsp;&nbsp;&nbsp;(c) the date the LTR is fully converted, or

&nbsp;&nbsp;&nbsp;&nbsp;(d) the date the base Policy ends or is surrendered.

*Examples:* 

***CorpExec VUL II*** 

The following illustrates the benefit available under a Policy with the LTR, assuming an Initial Term Face Amount of $100,000, issued on a male Insured, aged 45, Non-Smoker, guaranteed issue, who dies at the beginning of Policy Year 10 under the rider, where Death Benefit Option 1 has been selected and Premium payments of $4,795 have been paid annually for seven years.

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| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Policy Year** | &nbsp;&nbsp;&nbsp; **Annual Cost**<br> **of Insurance**<br> **Charge**<br>| &nbsp;&nbsp;&nbsp; **Total Cost**<br> **of Insurance**<br> **Charge**<br>| &nbsp;&nbsp;&nbsp; **Annual**<br> **Rider**<br> **Charge**<br>| &nbsp;&nbsp;&nbsp; **Total**<br> **Rider**<br> **Charge**<br>| &nbsp;&nbsp;&nbsp; **Life**<br> **Insurance**<br> **Benefit Paid**<br>| &nbsp;&nbsp;&nbsp; **Term**<br> **Insurance**<br> **Benefit Paid**<br>|
| 1 | $62.04 | $62.04 | $9.60 | $9.60 | $0 | $0 |
| 2 | $66.89 | $128.93 | $20.40 | $30.00 | $0 | $0 |
| 3 | $95.96 | $224.89 | $33.60 | $63.60 | $0 | $0 |
| 4 | $128.40 | $353.29 | $63.60 | $127.20 | $0 | $0 |
| 5 | $138.60 | $491.89 | $96.00 | $223.20 | $0 | $0 |
| 6 | $144.48 | $636.37 | $229.20 | $452.40 | $0 | $0 |
| 7 | $151.11 | $787.48 | $354.00 | $806.40 | $0 | $0 |
| 8 | $166.01 | $953.49 | $510.00 | $1316.40 | $0 | $0 |
| 9 | $177.08 | $1130.57 | $536.40 | $1852.80 | $0 | $0 |
| 10 | $0.00 | $1130.57 | $0.00 | $1852.80 | $100000 | $100000 |

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***CorpExec VUL III, IV, and V*** 

The following illustrates the benefit available under a Policy with the LTR, assuming an Initial Term Face Amount of $100,000, issued on a male Insured, aged 45, Non-Smoker, guaranteed issue, who dies at the beginning of Policy Year 10 under the rider, where Death Benefit Option 1 has been selected and Premium payments of $4,791 have been paid annually for seven years.

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| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Policy Year** | &nbsp;&nbsp;&nbsp; **Annual Cost**<br> **of Insurance**<br> **Charge**<br>| &nbsp;&nbsp;&nbsp; **Total Cost**<br> **of Insurance**<br> **Charge**<br>| &nbsp;&nbsp;&nbsp; **Annual**<br> **Rider**<br> **Charge**<br>| &nbsp;&nbsp;&nbsp; **Total**<br> **Rider**<br> **Charge**<br>| &nbsp;&nbsp;&nbsp; **Life**<br> **Insurance**<br> **Benefit Paid**<br>| &nbsp;&nbsp;&nbsp; **Term**<br> **Insurance**<br> **Benefit Paid**<br>|
| 1 | $61.54 | $61.54 | $0.00 | $0.00 | $0 | $0 |
| 2 | $65.79 | $127.33 | $27.60 | $27.60 | $0 | $0 |
| 3 | $93.45 | $220.78 | $50.40 | $78.00 | $0 | $0 |
| 4 | $123.60 | $344.38 | $79.20 | $157.20 | $0 | $0 |
| 5 | $131.58 | $475.96 | $114.00 | $271.20 | $0 | $0 |
| 6 | $134.04 | $610.00 | $164.40 | $435.60 | $0 | $0 |
| 7 | $136.29 | $746.29 | $226.80 | $662.40 | $0 | $0 |
| 8 | $148.92 | $895.21 | $295.20 | $957.60 | $0 | $0 |
| 9 | $157.91 | $1053.12 | $320.40 | $1278.00 | $0 | $0 |
| 10 | $0.00 | $1053.12 | $0.00 | $1278.00 | $100000 | $100000 |

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*Term Rider vs. Base Policy Coverage* 

You should consider a number of factors when deciding whether to purchase life insurance benefit coverage under the base Policy only or in conjunction with the STR or LTR. There can be some important cost differences.

*Sales Expense Charges*: If you compare a Policy with a term rider to one that provides the same initial life insurance benefit without a term rider, the Policy with the rider will have a lower Target Premium and Sales Expense Charges may be lower. This is because Sales Expense Charges are based on the amount of the Target Premium. Generally, the higher the Premium you pay, the greater the potential cost savings and positive impact on Cash Value growth that a term rider may have. See "Charges Associated with the Policy—Deductions From Premium Payments—Sales Expense Charge" for a discussion of how Sales Expense Charges are calculated.

If lowering up front sales expense costs are important to you or if you plan to fund the Policy at certain levels, you should consider including one of the term riders since this can help lower your initial costs and enhance overall Policy performance.

*Cost of Insurance Charges*: The current Cost of Insurance charges are different under base Policy coverage than under a term rider. In general, these rates are lower for life insurance benefit coverage provided under a term rider than coverage under the base Policy for the first six Policy Years. Usually, beginning in Policy Year seven, the Cost of Insurance rates under the term rider may be higher than the Cost of Insurance charges under the base Policy. This can affect your Policy in different ways depending on the timing and amount of Premiums you pay into the Policy, in particular, during the period referenced above, as well as the Policy's actual investment performance.

If, during the life of the Policy, your Cash Value is at a low level either because your overall funding has been low or your actual investment experience has been poor, the negative impact of the higher Cost of Insurance charges on the Cash Value will be greater. Therefore, the lower the Premiums paid and/or the worse the actual investment experience, the greater possibility that a Policy with a term rider will not perform as well as a Policy with base coverage only.

*Compensation for Policy Sales*: Generally, agents receive higher compensation for sales of the same Life Insurance Benefit through base Policy coverage than for sales of STR coverage. These compensation arrangements have the potential to influence the recommendations made by your registered representative or broker-dealer.

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You should review several illustrations with various combinations of base Policy and term rider coverage using a variety of rates of return. Your choice as to how much term coverage you should elect should be based on your individual plans with respect to Premium amounts, level of risk tolerance, and the time you plan to hold the Policy. Please ask your Registered Representative to review your various options.

***Tax-Free "Section 1035" Insurance Policy Exchanges***

Generally, you may exchange one life insurance policy for another in a "tax-free exchange" under Section 1035 of the IRC. However, because we have discontinued sales of this Policy, you may not exchange another Policy for one described in this prospectus. Before making an exchange, you should compare both policies carefully. Remember that if you exchange another policy for the one described in this prospectus, you might have to pay a surrender charge on your existing Policy and you will have to pay sales expense charges on the new Policy (See "Charges Associated with the Policy—Deductions from Premium Payments—Sales Expense Charge" for more information). Also, some charges may be higher (or lower) and the benefits may be different. If the exchange does not qualify for Section 1035 treatment, you may have to pay federal income and penalty taxes on the exchange. You should not exchange one Policy for another unless you determine, after knowing all of the facts that the exchange is in your best interest.

Because the final surrender value of your existing Policy will be calculated once the new life insurance Policy has been approved for issuance, this final surrender value may be affected by increases or decreases in Policy values that result from market fluctuations during the period between submission of the exchange Request and actual processing. The final surrender value may be calculated several Business Days after we receive your exchange Request. Please consult your current insurer for options to potentially mitigate market exposure during this period. In addition, as we will not issue the new Policy until we have received an initial premium from your existing insurance company, the issuance of the Policy in an exchange could be delayed.

***Attained Age 100 Policy Anniversary***

Beginning on the Policy Anniversary on which the Insured's Attained Age is 100, the Life Insurance Benefit will equal the Cash Value for all subsequent years, but the following limitations will apply:

&nbsp;&nbsp;&nbsp;&nbsp;(a) No further Planned or Unplanned Premiums will be allowed, except as needed to keep your Policy from lapsing, and no further deductions for Cost of Insurance charges will be made from the Cash Value. We will continue to deduct all other Monthly Deduction Charges.

&nbsp;&nbsp;&nbsp;&nbsp;(b) The amount in the Fixed Account will continue to accumulate interest.

&nbsp;&nbsp;&nbsp;&nbsp;(c) You may Request new Policy loans and loan interest will continue to accrue on any new and existing loans at the Effective Annual Loan Interest Rate. However, if the amount of the Policy Debt is greater than the Cash Value of your Policy, your Policy could lapse.

&nbsp;&nbsp;&nbsp;&nbsp;(d) Partial withdrawals and loan repayments will continue to be allowed.

&nbsp;&nbsp;&nbsp;&nbsp;(e) Changes to the Life Insurance Benefit Option will not be allowed.

&nbsp;&nbsp;&nbsp;&nbsp;(f) The Policy may be surrendered for its proceeds by submitting a Notice to us.

&nbsp;&nbsp;&nbsp;&nbsp;(g) Any riders attached to your Policy will end, unless stated otherwise in the rider.

&nbsp;&nbsp;&nbsp;&nbsp;(h) Any assets in the Separate Account will continue to participate in the investment experience of the Investment Divisions.

&nbsp;&nbsp;&nbsp;&nbsp;(i) Transfers among the Allocation Alternatives will continue to be allowed, subject to the limitations described in this prospectus. Please refer to "Description of the Policy—Investment Divisions and the Fixed Account—Transfers Among Investment Divisions and the Fixed Account" for more information on these limitations.

Your Policy may not qualify as life insurance after the Insured's Attained Age 100 under federal tax law and may be subject to adverse tax consequences. Please consult your tax advisor before choosing to continue the Policy or take a Policy loan after Attained Age 100.

If your Policy is still in effect when the Insured dies, we will pay the Life Insurance Proceeds to the beneficiary.

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***24 Month Exchange Privilege***

Within the first 24 months after the Issue Date of your Policy, if you decide that you do not want to own your Policy, you may exchange it for a policy on the life of the Insured without evidence of insurability.

The new policy will be on a permanent plan of life insurance, which we were offering for this purpose on the Issue Date of the existing Policy. The new policy will have a face amount equal to the initial Face Amount of your existing Policy. It will be based on the same Policy Date, Insured's class of risk, gender, and issue age, but will not offer variable Allocation Alternatives, such as Investment Divisions. The new policy will have the same provisions and be subject to the same limitations as are in the series of permanent plan life insurance policies being issued by us on that date. Any riders attached to the existing Policy will end on the date of exchange, unless we agree otherwise.

To exchange your Policy:

&nbsp;&nbsp;&nbsp;&nbsp;● your Policy must be in effect on the date of the exchange;

&nbsp;&nbsp;&nbsp;&nbsp;● you must repay any Policy Debt;

&nbsp;&nbsp;&nbsp;&nbsp;● you must send a Request to our Service Office; and

&nbsp;&nbsp;&nbsp;&nbsp;● if necessary, we will require you to make any adjustment between the premiums and Cash Values of the existing Policy and the new policy.

You will have to pay any sales expense charges imposed by the new policy. Upon an exchange of a Policy, all riders and all benefits will end unless we agree otherwise or unless required under state law.

On the Business Day we receive a Request for an exchange, the Cash Value of the Policy will be transferred into the Fixed Account, where it will remain until these requirements are met. The date of exchange will be the later of: (a) the Business Day the policyowner sends the Policy to our Service Office along with a Request; or (b) the Business Day we receive the Policy at our Service Office and the necessary payment for the exchange, if any. Requests received after 4:00 p.m. (Eastern Time) on a Business Day, or on a non-Business Day, will be processed as of the next Business Day.

Policy values may increase or decrease due to market fluctuations during the period between submission of the exchange Request and the issuance of the new policy, which could affect the Cash Value applied to your new policy.

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**Loans**

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Using the Policy as sole security, you may borrow any amount up to the Loan Value of the Policy. The value in the Loan Account will never be less than (a + b) - c, where:

a = the amount in the Loan Account on the prior Policy Anniversary;

b = the amount of any loan taken since the prior Policy Anniversary; and

c = any loan amount repaid since the prior Policy Anniversary.

The effective date of the loan is the Business Day we receive your loan Request, if we receive it before the close of regular trading on the NYSE, generally 4 P.M. EST. Requests received after the NYSE closes are effective the next Business Day.

Generally, we will disburse your loan in one lump sum within seven days after we receive all necessary documentation and information in Good Order. However, we may delay payment under certain circumstances. See "Policy Payment Information—When We Pay Policy Proceeds" for more information.

***Your Policy as Collateral for a Loan***

Your Policy will be used as collateral to secure your loan. Any amount that secures a loan remains part of your Policy's Cash Value but is transferred to the Loan Account. We credit any amount that secures a loan (the loaned amount) with an interest rate that we expect to be different from the interest rate we credit on the Fixed Account.

The Loan Account secures any Policy Debt and is part of our General Account. When you Request a loan, or when outstanding interest is added to and becomes part of a loan (Policy Debt), a transfer of funds will be made from the Allocation Alternatives, so that the Cash Value in the Loan Account is at least 100% of the requested loan plus any existing Policy Debt. When you request a loan, you may specify the Allocation Alternatives from which the transfer should occur. If you do not specify the source, the transfer amount will be deducted pro-rata from the Allocation Alternatives.

If the requested loan exceeds the amount invested in the specified Allocation Alternatives, the balance will be transferred pro-rata from your assets in the remaining Allocation Alternatives you have.

Transfers from the Investment Alternatives to the Loan Account are subject to the Minimum Redemption amount of $500 per Investment Division. See "Description of the Policy—Investment Divisions and the Fixed Account—Transfers Among the Investment Divisions and the Fixed Account."

On each Policy Anniversary, if the Policy Debt exceeds the amount in the Loan Account, the excess amount will be transferred from the Allocation Alternatives on a pro rata basis to the Loan Account.

On each Policy Anniversary, if the amount in the Loan Account exceeds the Policy Debt, the excess will be transferred from the Loan Account to the Allocation Alternatives. We reserve the right to do this on a monthly basis. Amounts will first be transferred to the Fixed Account up to an amount equal to the total amounts that had previously been transferred from the Fixed Account to the Loan Account. Any additional amounts being transferred out of the Loan Account will be allocated according to the policyowner's Premium allocation in effect at the time of transfer unless the policyowner tells us otherwise.

***Loan Interest***

While the guaranteed maximum annual loan interest rate is 6.00%, we currently charge an Effective Annual Loan Interest Rate of 4.00%, payable in arrears. Loan interest accrues each day and is compounded annually. Any loan interest that you do not pay as of the Policy Anniversary will become part of the loan, and will also accrue interest. An amount may need to be transferred to the Loan Account to cover this increased loan amount.

On the date of death, the date the Policy ends, the date of a loan repayment, or on any other date we specify, we will make any adjustment in the loan that is required to reflect any interest paid for any period beyond that date.

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If we have set a rate lower than 6.00% per year, any subsequent increase in the interest rate will be subject to the following conditions:

&nbsp;&nbsp;&nbsp;&nbsp;(1) The effective date of any increase in the interest rate for loans will not be earlier than one year after the effective date of the establishment of the previous rate.

&nbsp;&nbsp;&nbsp;&nbsp;(2) The amount by which the interest rate can be increased will not exceed one percent per year, but the interest will in no event ever exceed 6.00%.

&nbsp;&nbsp;&nbsp;&nbsp;(3) We will give notice of the interest rate in effect when a loan is made and when sending notice of loan interest due.

&nbsp;&nbsp;&nbsp;&nbsp;(4) If a loan is outstanding 40 days or more before the effective date of an increase in the interest rate, we will notify the Policyowner of that increase at least 30 days prior to the effective date of the increase.

&nbsp;&nbsp;&nbsp;&nbsp;(5) We will give notice of any increase in the interest rate when a loan is made during the 40 days before the effective date of the increase.

***Interest Credited on the Cash Value Held as Collateral for a Policy Loan***

When you take a loan against your Policy, the loaned amount that we hold in the Loan Account may earn interest at a different rate from the Effective Annual Loan Interest Rate. The rate on the Loan Account may also be different from the rate we credit on amounts in the Fixed Account. We guarantee that the rate we credit on the Loan Account will never be less than the greater of (1) the Effective Annual Loan Interest Rate, less 2.00%; or (2) the GMIR we credit to the Fixed Account. Interest accrues daily and is credited on each Monthly Deduction Day.

For the first ten Policy Years, the rate we currently expect to credit on loaned amounts is 0.50% less than the Effective Annual Loan Interest Rate we charge. Beginning on the eleventh Policy Year, the rate we currently expect to credit on loaned amounts is 0.25% less than the Effective Annual Loan Interest Rate we charge. These rates are not guaranteed and we can change them at any time, subject to the above-mentioned minimums.

***Loan Repayment***

All or part of an unpaid loan can be repaid before the Insured's death or before the Policy is surrendered. When a loan repayment is made, we will transfer immediately the excess amount in the Loan Account resulting from the loan repayment in accordance with the procedures set forth under "Loan Account" above. We will also transfer excess amounts in the Loan Account resulting from interest accrued in accordance with those procedures. Payments received by NYLIAC will be applied as directed by the policyowner.

***Excess Loan Condition***

If the Policy Debt is greater than the Cash Value, we will mail a notice to you at your last known address. We will also send a copy of the notice to the last known assignee, if any, on our records. If you do not pay the excess of the Policy Debt over the Cash Value within 31 days after the day we mail you this notice, we will terminate your Policy. This could result in a taxable gain and penalty tax to you. (See "Termination and Reinstatement—Reinstatement Option.")

***The Effect of a Policy Loan***

A loan, repaid or not, has a permanent effect on your Cash Value. This effect occurs because the amounts borrowed are removed from your Investment Divisions (which receive investment performance) and placed in the Loan Account (which earns interest at a fixed rate). Investment results will apply only to the amounts remaining in your Investment Divisions. The longer a loan is outstanding, the greater the effect on your Cash Value. The effect could be favorable or unfavorable. If the Investment Divisions earn more than the annual interest rate credited to the Loan Account, your Cash Value will not increase as rapidly as it would have had no loan been made. If the Investment Divisions earn less than the interest credited to the Loan Account, then your Cash Value may be greater than it would have been had no loan been made. If not repaid, the aggregate amount of the Policy Debt will reduce the Cash Surrender Value and the Life Insurance Proceeds that might otherwise be payable.

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In addition, to the extent that a loan is not paid and the accrued interest is added to the Policy Debt, that interest becomes unpaid capitalized loan interest. Unpaid capitalized loan interest generally will be treated as a new loan under the IRC. If the Policy is a modified endowment contract, a loan may result in taxable income and penalty taxes to you. In addition, for all Policies, if the loans taken, including unpaid loan interest, exceed the Cumulative Premium Amount, Policy surrender or Policy lapse will result in a taxable gain to you. Finally, it is possible that a loan could be treated as a taxable distribution if there is no spread or a very small spread between the interest rate charged on the loan and the interest rate credited to the Loan Account. (See "Federal Income Tax Considerations" for more information.)

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**Premiums**

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Premium payments are classified as Planned or Unplanned Premiums.

The current available methods of payment are: direct payment to NYLIAC or any other method agreed to by us.

No Premium payment, Planned or Unplanned, may be in an amount that would jeopardize the Policy's qualification as life insurance under Section 7702 of the IRC.

Subsequent Premium payments must be sent to our Service Office in Good Order. You can call our Service Office to determine if we have received your Premium payment.

**Acceptance of initial and subsequent Premium payments is subject to the sales standards of the selling broker-dealer (including those of our affiliated broker-dealer, NYLIFE Securities).**

***Planned Premium***

When you apply for your Policy, you select a Premium payment schedule, which indicates the amount and frequency of Premium payments you intend to make, subject to the limits that we may set. The Premium amount you select for this schedule is called your "Planned Premium." It is shown on your application. Factors that should be considered in determining your Premium payment are: age, underwriting class, gender, Policy Face Amount, Investment Division performance, and loans.

You may make Planned Premium payments at any time up to the Policy Anniversary on which the Insured's Attained Age is 100. However, if payment of a Planned Premium will cause the Life Insurance Benefit of your Policy to increase more than the Alternative Cash Surrender Value plus Policy Debt will increase, we reserve the right to require proof of insurability before accepting that payment and applying it to your Policy. If we require such proof, we will require a written application and will place a copy of that application in the Policy and make it a part of your Policy. There is no penalty if a Planned Premium is not paid, since Premium payments, other than the first Premium payment, are not specifically required. Paying Planned Premiums does not guarantee coverage for any period of time. Subsequent Premium payments may be necessary to keep the Policy in force. Instead, the duration of the Policy depends upon the Cash Surrender Value. **We will require one or more additional Premium payments in the circumstance where the Cash Surrender Value of your Policy is determined to be insufficient to pay the charges needed to keep your Policy in effect. Should the additional payment(s) not be made, your Policy will lapse. See "Termination and Restatement" below.**

***Unplanned Premium***

An Unplanned Premium is a payment you make that is not part of the Premium schedule you choose.

&nbsp;&nbsp;&nbsp;&nbsp;● While the Insured is living, you may make Unplanned Premium payments at any time before the Policy Anniversary on which the Insured's Attained Age is 100. Unplanned Premium payments may only be made after the Attained Age 100 Policy Anniversary in order to keep the Policy from lapsing.

&nbsp;&nbsp;&nbsp;&nbsp;● If payment of an Unplanned Premium would result in an increase in the Life Insurance Benefit greater than the increase in the Alternative Cash Surrender Value plus Policy Debt, we may require proof of insurability before accepting that payment and applying it to your Policy. If we require such proof, we will require a written application and will place a copy of that application in the Policy and make it a part of the Policy. The Life Insurance Benefit increase may be necessary for your Policy to continue to qualify as life insurance under IRC Section 7702.

&nbsp;&nbsp;&nbsp;&nbsp;● If a Premium payment would cause total Premium payments in a Policy Year to exceed the Planned Premium amount for that Policy Year, the excess is Unplanned Premium, even if you made a partial withdrawal from the Policy during that Policy Year.

***Risk of Minimally Funded Policies***

You may make additional Planned or Unplanned Premium payments at any time until the Policy Anniversary when the Insured's Attained Age is 100. We will require one or more additional Premium payments in the circumstance where the Cash Surrender Value of your Policy is determined to be insufficient to pay the charges needed to keep

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your Policy in effect. In such event, you may want to consider paying more Premium than requested to account for the impact of potential market fluctuations and performance-related risks on your Cash Value. Should the additional payment(s) not be made, your Policy will lapse.

Although Premium payments are flexible, you may need to make subsequent Premium payments so that the Cash Surrender Value of your Policy is sufficient to pay the charges needed to keep your Policy in effect. In addition, by paying only the minimum Premium required to keep the Policy in force, you may forego the opportunity to build up significant Cash Value in the Policy. A Policy that is maintained with a Cash Surrender Value just sufficient to cover deductions and charges or that is otherwise minimally funded is more likely to be unable to maintain its Cash Surrender Value due to market fluctuations and performance-related risks. When determining the amount of your Planned Premium payments, you should consider funding your Policy at a level that has the potential to maximize the investment opportunities within your Policy and to minimize the risks associated with market fluctuations. (Your Policy can lapse even if you pay all of the Planned Premiums on time.)

***Timing and Valuation***

Your Premium will be credited to your Policy on the Business Day that it is received at our Service Office in Good Order, assuming it is received prior to the close of regular trading on the NYSE, generally 4:00 p.m. Eastern Time. Any Premiums received in Good Order after that time will be credited to your Policy on the next Business Day.

The Portfolio assets making up the Investment Divisions will be valued only on those days that the NYSE is open for trading. Generally, the NYSE is closed on Saturdays, Sundays, and major U.S. holidays.

***Free Look***

You have the right to cancel your Policy, within certain limits. Under the free look provision of your Policy, in most jurisdictions, you have 10 days after you receive your Policy to return it and receive a refund. (See "State Variations" for state-by-state details.) To receive a refund, you must return the Policy in Good Order to our Service Office (or any other address we indicate to you in writing) or to the registered representative from whom you purchased the Policy within 10 days of receiving the Policy, along with a Request for cancellation.

We will allocate Premium payments you make with your application or during the free look period to the General Account until the end of the free look period, unless we have specified otherwise in the "State Variations" section. After the end of the free look period, or the date we receive your Policy delivery receipt, whichever is later, we will then allocate the Net Premium plus any accrued interest to the Investment Divisions of the Separate Account or the Fixed Account according to the instructions in your Premium Allocation Form. If you cancel your Policy, we will pay you, as of the Business Day either our Service Office or the registered representative through whom you purchased it receives the Policy along with the Request for cancellation, the greater of (a) your Policy's Cash Value as of the date the Policy is returned or (b) the total Premium payments you have made, less Policy Debt and any partial withdrawals you have taken. The Alternative Cash Surrender Value does not apply if you exercise this "free look" or right to cancel.

***Premium Payments***

Premium payments should be mailed to our Service Office. **Acceptance of initial and subsequent Premium payments (whether Planned or Unplanned) are subject to the Sales Standards of the selling broker-dealer (including those of our affiliated broker-dealer, NYLIFE Securities).** 

The currently available methods of payment are: direct payment to NYLIAC and any other method to which we agree.

We apply the Net Premium to the Investment Divisions and/or Fixed Account, according to your instructions on the Premium allocation form that we have on file.

If you elect the GPT to determine whether your Policy qualifies as life insurance under IRC Section 7702, we may limit your Premium payments. If the Premiums paid during any Policy Year exceed the maximum amount permitted under the GPT, we will return to you the excess amount within 60 days after the end of the Policy Year. The excess amount of the Premiums we return to you will not include any gains or losses attributable to the investment return on those Premiums. We will credit interest at a rate of not less than 3.00% on those Premiums from the date such Premiums cause the Policy to exceed the amount permitted under the GPT to the date we return the Premiums to

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you. (See "Policy Payment Information—Life Insurance Benefit Options" for more information). You may call our Service Office to determine whether an additional Premium payment would be allowed under your Policy.

You may change the Premium allocation any time you make a subsequent Premium payment by submitting a revised Premium allocation form to our Service Office in Good Order. Your revised Premium allocation selection will be effective as of the Business Day we receive the revised Premium allocation at our Service Office in Good Order. Premium allocation selections received after market close will be effective the next Business Day. The allocation percentages must total 100% and be in whole numbers or, if needed, may contain up to two decimal places.

***Premium Payments Returned for Insufficient Funds***

If your Premium payment is returned for insufficient funds, we will reverse allocations to the Allocation Alternatives chosen and reserve the right to charge you a $20 fee for each returned payment. In addition, the affected Eligible Portfolio may also redeem shares to cover any losses it incurs as a result of a returned payment. If two consecutive payments by check are returned for insufficient funds, the privilege to pay by check will be suspended until such time as we agree to reinstate it.

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**Policy Payment Information**

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***When Life Insurance Coverage Begins***

Insurance coverage under the Policy will begin on the later of the Policy Date or the date we receive the first Planned Premium payment in Good Order.

The Monthly Deduction Charges will begin on the first Monthly Deduction Day, which will be the monthly anniversary of the Policy Date.

***Changing the Face Amount of Your Policy***

You may increase or decrease the Face Amount of your Policy on or after the first Policy Anniversary, subject to the minimum Face Amount limitations and minimum Face Amount increase and decrease amounts shown in your Policy. If you increase the Face Amount, you may be subject to increased Cost of Insurance rates which in no event will be higher than the Maximum Cost of Insurance Rates on your Policy Data Pages. The Face Amount of your Policy affects the Life Insurance Benefit to be paid. To increase the Face Amount of your Policy, you must send a Request. We may require a written application, signed by you and the Insured, and proof of insurability to increase the Face Amount. Any increase in Face Amount will be subject to our approval and the limits we set. If we approve an increase, we will increase the Face Amount on the Monthly Deduction Day on or after the Business Day we approve the increase. Any increase in Face Amount that occurs automatically and without your Request is not subject to evidence of insurability.

You should consider the following consequences when increasing the Face Amount of your Policy:

&nbsp;&nbsp;&nbsp;&nbsp;● possible increased monthly Cost of Insurance charges;

&nbsp;&nbsp;&nbsp;&nbsp;● a new suicide and contestability period applicable only to the amount of the increase;

&nbsp;&nbsp;&nbsp;&nbsp;● a change in the life insurance percentage applied to the entire Policy under Section 7702 of the IRC; and

&nbsp;&nbsp;&nbsp;&nbsp;● a possible new seven-year testing period for modified endowment contract status.

The minimum amount allowed for an increase in Face Amount is $1,000. We do not charge a fee for a Face Amount increase.

In addition, on or after the first Policy Anniversary, you may Request a decrease in the Face Amount of your Policy. A decrease in the Face Amount is effective on the Monthly Deduction Day on or after the Business Day we receive the policyowner's Request for the decrease. You should consider the following possible consequences when decreasing the Face Amount of your Policy:

&nbsp;&nbsp;&nbsp;&nbsp;● a change in the total Policy monthly Cost of Insurance charges;

&nbsp;&nbsp;&nbsp;&nbsp;● possible force-outs of Premium if Premiums paid exceed the GPT; and

&nbsp;&nbsp;&nbsp;&nbsp;● adverse tax consequences.

The decrease will first be applied to reduce the most recent increase in Face Amount. It will then be applied to reduce other increases in the Face Amount and then to the initial Face Amount in the reverse order in which they took place. Decreases are subject to the minimum Face Amount specified in your Policy. The minimum amount allowed for a decrease in Face Amount is $1,000. We do not charge a fee for a Face Amount decrease.

The policyowner may change the Face Amount while the Insured is living, but only if the Policy will continue to qualify as life insurance under IRC Section 7702 after the change is made. An increase or decrease in the Face Amount (or for policyowners who have elected to include a term rider, the Target Face Amount) will cause a corresponding change in the Target Premium.

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***Life Insurance Proceeds***

We will pay proceeds to your beneficiary in one sum when we receive satisfactory proof that the Insured died while the Policy is in effect. These proceeds will equal:

1) the Life Insurance Benefit calculated under the Life Insurance Benefit Option you have chosen, valued as of the date of death;

plus 2) any additional death benefits available under the term riders you have chosen;

less 3) any Policy Debt;

less 4) any unpaid Monthly Deduction Charges; and

plus 5) any interest on these proceeds compounded each year from the date we receive due proof in Good Order that the Insured died while the Policy is in effect until the date we pay the proceeds or the date when the payment option you have chosen becomes effective. We set the interest rate each year. This rate will be 3% per year, and will not be less than that required by law.

See "Policy Payment Information--Life Insurance Benefit Options" for more information.

**Beginning on the Policy Anniversary on which the Insured's Attained Age is 100, the Face Amount, as shown in the Policy Data Pages, will no longer apply. Instead, the Life Insurance Benefit under the Policy will equal the Alternative Cash Surrender Value. We will reduce the amount of the Life Insurance Proceeds by any Policy Debt. Also, no further monthly deductions will be made for the Cost of Insurance charge. For more information about your Policy as of the Policy Anniversary when the Insured's Attained Age is 100, see "Description of the Policy—Attained Age 100 Policy Anniversary." The federal income tax treatment of a life insurance policy is uncertain after the Insured's Attained Age is 100. See "Federal Income Tax Considerations."** 

Every state has unclaimed property laws, which generally declare a life insurance policy to be abandoned after a period of inactivity of three to five years from the date the Insured's Attained Age is 100 or the date the Life Insurance Benefit is due and payable. For example, if the payment of a Life Insurance Benefit has been triggered, but, if after a thorough search, we are unable to locate the beneficiary of the Life Insurance Benefit, or the beneficiary does not come forward to claim the Life Insurance Benefit in a timely manner, the Life Insurance Benefit may be paid to the abandoned property division or unclaimed property office of the state in which the beneficiary or the Insured last resided, as shown on our books and records, or to Delaware (our state of domicile). This escheatment is revocable, however, and the state is obligated to pay the Life Insurance Benefit (without interest) if your beneficiary steps forward to claim it with the proper documentation. To prevent such escheatment, it is important that you update your beneficiary designation, including addresses, if and as they change. Please contact us at 1 (888) 695-4748 or send a Notice to our Service Office (or any other address we indicate to you in writing) to make such changes.

***Payees***

The beneficiary is the person(s) or entity(ies) you have specified in our records to receive the Life Insurance Proceeds from your Policy. You have certain options regarding the Policy's beneficiary:

&nbsp;&nbsp;&nbsp;&nbsp;● You name the beneficiary when you apply for the Policy. The beneficiary will receive the Life Insurance Proceeds after the Insured dies.

&nbsp;&nbsp;&nbsp;&nbsp;● You may elect to have different classes of beneficiaries, such as primary and secondary, where these classes determine the order of payment. You may identify more than one beneficiary per class.

&nbsp;&nbsp;&nbsp;&nbsp;● To change a revocable beneficiary while the Insured is living, you must send a Request. Generally, the change will take effect as of the date the Request is signed, unless otherwise specified by the policyowner and subject to any payments we made or actions we have already taken.

&nbsp;&nbsp;&nbsp;&nbsp;● If no beneficiary is living when the Insured dies, we will pay the Life Insurance Proceeds to you (the policyowner) or if you are deceased, to your estate or your successor in interest, unless we have other instructions from you to do otherwise.

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You may name only those individuals who are able to receive payments on their own behalf as payees or successor payees, unless we agree otherwise. We may require proof of the age of the payee or proof that the payee is living. If we still have an unpaid amount, or there are some payments which still must be made when the last surviving payee dies, we will pay the unpaid amount with interest to the date of payment, or pay the present value of the remaining payments, to that payee's estate. We will make this payment in one sum. The present value of the remaining payments is based on the interest rate used to compute them, and is always less than their sum.

***How We Will Pay Life Insurance Proceeds***

We will pay the Life Insurance Proceeds in a lump sum unless the beneficiary chooses otherwise (See "Policy Payment Information—When We Pay Policy Proceeds" for information about your payment options). After the death of the Insured, if the beneficiary chooses a lump sum payment, we will pay the beneficiary a single check for the amount of the Life Insurance Proceeds. Any Life Insurance Proceeds paid in one sum will bear interest compounded each year from the date we receive due proof in Good Order that the Insured died while the Policy is in effect to the date of payment. We set the interest rate each year. This rate will be at least 3% per year and not less than that required by law.

***When We Pay Policy Proceeds***

If the Policy is still in effect, we will pay any Cash Surrender Value, Alternative Cash Surrender Value, if applicable, partial withdrawals, loan proceeds, or the Life Insurance Proceeds generally within seven days after we receive all of the necessary requirements at Our Service Office in Good Order.

Under the following situations, payment of proceeds may be delayed:

&nbsp;&nbsp;&nbsp;&nbsp;● We may delay payment of any loan proceeds attributable to the Separate Account, any partial withdrawal from the Separate Account, the Cash Surrender Value, the Alternative Cash Surrender Value, or the Life Insurance Proceeds during any period that:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) we are unable to determine the amount to be paid because the NYSE is closed (other than customary weekend and holiday closings), trading is restricted by the SEC, an emergency exists, or an Eligible Portfolio suspends redemptions pursuant to SEC Rules 2a-7 or 22e-3 under the 1940 Act or otherwise; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) the SEC, by order, permits us to delay payment in order to protect our policyowners.

&nbsp;&nbsp;&nbsp;&nbsp;● We may delay payment of any portion of any loan or surrender Request, including Requests for partial withdrawals, from the Fixed Account for up to six months from the date we receive your Request.

&nbsp;&nbsp;&nbsp;&nbsp;● We may delay payment of the entire Life Insurance Proceeds if we contest the payment. We investigate all death claims that occur within the two-year contestable period. Upon receiving information from a completed investigation, we will make a determination, generally within five days, as to whether the claim should be authorized for payment. Payments are made promptly after the authorization.

&nbsp;&nbsp;&nbsp;&nbsp;● Federal laws made to combat terrorism and prevent money laundering by criminals might, in certain circumstances, require us to reject a Premium payment and/or "freeze" a Policy. If these laws apply to a particular Policy(ies), we would not be allowed to pay any Request for transfers, partial withdrawals, surrenders, loans, or Life Insurance Proceeds. If a Policy or an account is frozen, the Cash Value would be moved to a special segregated interest-bearing account and held in that account until we receive instructions from the appropriate federal regulator.

&nbsp;&nbsp;&nbsp;&nbsp;● If you have submitted a recent check or draft, we have the right to defer payment of any surrenders, partial withdrawals, loans, Life Insurance Proceeds, amounts due pursuant to the free look provision, or payments under a settlement option until such check or draft has been honored. It may take up to 15 days for a check to clear through the banking system.

We will pay interest on Life Insurance Proceeds compounded each year from the date we receive due proof in Good Order that the Insured died while the Policy is in effect until the date we pay the proceeds or the date when the payment option you have chosen becomes effective. We set the interest rate each year. This rate will be at least 3% per year, and will not be less than that required by law.

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*Payment Options*

There are three payment options you may choose from: an Interest Accumulation Option, an Interest Payment Option, and a Life Income Option. If any payment under these options is less than $100, we may pay any unpaid amount or present value in one sum.

&nbsp;&nbsp;&nbsp;&nbsp;● *Interest Accumulation Option (Option 1 A)* 

Under this option, the portion of the Life Insurance Proceeds the Beneficiary chooses to keep with us will earn interest each year. The beneficiary can make withdrawals from this amount at any time in sums of $100 or more. We will pay interest on the sum withdrawn up to the date of the withdrawal.

&nbsp;&nbsp;&nbsp;&nbsp;● *Interest Payment Option (Option 1 B)* 

Under this option, we will pay interest on all or part of the Life Insurance Proceeds you choose to keep with us. We will pay interest monthly, quarterly, semi-annually or annually, as directed, on amounts remaining on deposit with us.

&nbsp;&nbsp;&nbsp;&nbsp;● *Life Income Option (Option 2)* 

Under this option, we make equal monthly payments during the lifetime of the payee or payees. We determine the amount of the monthly payment by applying the Life Insurance Proceeds to the purchase of a corresponding single premium life annuity policy, which is issued when the first payment is due. Payments remain the same and are guaranteed for ten years, even if the specified payee dies sooner.

Payments are based on an adjusted annuity premium rate in effect at the time the annuity policy is issued. This rate will not be less than the corresponding minimum amount shown in the Option 2 table found in your Policy. These minimum amounts are based on the 1983 Table "a" with Projection Scale G and with interest compounded each year at 3%.

If you make a Request to our Service Office, we will send you a statement of the minimum amount due with respect to each monthly payment in writing. The minimum is based on the gender and adjusted age of the payee(s). To find the adjusted age in the year the first payment is due, we decrease the payee's age at that time, as follows:

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| | | |
|:---|:---|:---|
| **2018-2026** | **2027-2036** | **2037 and later** |
| &nbsp;&nbsp;&nbsp; –1 | &nbsp;&nbsp;&nbsp;&nbsp; –2 | &nbsp;&nbsp;&nbsp;&nbsp; –3 |

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A decrease in the payee's age results in lower payments than if no decrease was made.

*Electing or Changing a Payment Option*

While the Insured is living, you can elect or change your payment option. To change your payment option, you must send a Request to our Service Office. You can also name or change one or more of the beneficiaries who will be the payee(s) under that option. (See "Policy Payment Information—Payees" for more information.)

After the Insured dies, any person who is entitled to receive Life Insurance Proceeds in one sum (other than an assignee) can elect a payment option and name payees. The person who elects a payment option can also name one or more successor payees to receive any amount remaining at the death of the payees. Naming these payees cancels any prior choice of successor payees. A payee who did not elect the payment option has the right to advance or assign payments, take the payments in one sum, change the payment option, or make any other change, only if the person who elects the payment option sends a Notice to the Service Office and we agree.

If we agree, a payee who has elected a payment option may later elect to have any unpaid amount, or the present value of any elected payments, placed under another option described in this section. When any payment under an option would be less than $100, we may pay any unpaid amount or present value in one sum. We will hold amounts to be paid under the options described below in our General Account.

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***Life Insurance Benefit Options***

Under your Policy, the Life Insurance Benefit depends on the Life Insurance Benefit Option you choose. Your Policy offers three options:

**Option 1—**The Life Insurance Benefit under this option is equal to the greater of (a) the Face Amount of the Policy or (b) a percentage of the Alternative Cash Surrender Value, equal to the minimum necessary for this Policy to qualify as life insurance under Section 7702 of the IRC.

**Option 2—**The Life Insurance Benefit under this option is equal to the greater of (a) the Face Amount of the Policy plus the Alternative Cash Surrender Value or (b) a percentage of the Alternative Cash Surrender Value, equal to the minimum necessary for this Policy to qualify as life insurance under Section 7702 of the IRC.

**Option 3—**The Life Insurance Benefit under this option is equal to the greater of (a) the Face Amount of the Policy plus the Cumulative Premium Amount or (b) a percentage of the Alternative Cash Surrender Value, equal to the minimum necessary for this Policy to qualify as life insurance under Section 7702 of the IRC.

The Cash Value and, if applicable, the Alternative Cash Surrender Value will fluctuate due to the performance results of the Investment Divisions you choose. The value of any benefit provided by a term rider is added to the amount of the Life Insurance Benefit. We subtract any Policy Debt and any charges incurred but not yet deducted, and then credit the interest on the balance. We pay interest on the Life Insurance Proceeds compounded each year from the date we receive due proof in Good Order that the Insured died while the Policy is in effect to the date we pay the Life Insurance Proceeds or a payment option becomes effective. We set the interest rate each year. This rate will be at least 3% per year, and will not be less than that required by law.

Under IRC Section 7702, a policy may be treated as life insurance for federal tax purposes if at all times it meets either the GPT or the CVAT. Under any of the Life Insurance Benefit Options, the Life Insurance Benefit cannot be less than the Policy's Alternative Cash Surrender Value, times a percentage determined from the appropriate IRC Section 7702 qualification test. You may choose either the GPT table or CVAT before the Policy is issued. Once the Policy is issued, you may not change to a different test. The Life Insurance Benefit will vary depending on which test is used. You can find the table that contains the percentages for the applicable test in the Policy Data Pages.

The GPT has two components, a premium limit component and a corridor component. The premium limit restricts the amount of premium that can be paid into a Policy. The corridor requires that the Life Insurance Benefit be at least a certain percentage (varying each year by the Insured's Attained Age) of the Alternative Cash Surrender Value. The CVAT does not have a premium limit, but does have a corridor that requires that the Life Insurance Benefit be at least a certain percentage (varying based on Attained Age, gender, and risk class of the Insured) of the Alternative Cash Surrender Value.

The corridor under the CVAT is different than the corridor under the GPT. Specifically, because the percentages used for the GPT corridor are lower than under the CVAT, a GPT corridor policy must attain a higher level of Alternative Cash Surrender Value before the relevant IRC table will result in an automatic Life Insurance Benefit increase. Any such automatic increase in the Life Insurance Benefit may result in additional Cost of Insurance charges. Therefore, a CVAT policy is more likely to incur such additional charges than a GPT policy.

In deciding whether or not to choose the CVAT, you should consider that the CVAT generally permits more Premiums to be contributed to a Policy, but may require the Policy to have a higher Life Insurance Benefit. (See below for examples of the impact of these tests on sample Life Insurance Benefit Options.)

Assuming your Life Insurance Benefit does not increase to meet the requirements of IRC Section 7702, and assuming the same Face Amount and Premium payments under these options:

&nbsp;&nbsp;&nbsp;&nbsp;● If you choose Option 1, your Life Insurance Benefit will not vary in amount, and generally you will have lower total Policy Cost of Insurance charges and lower Life Insurance Proceeds than under Options 2 or 3.

&nbsp;&nbsp;&nbsp;&nbsp;● If you choose Option 2, your Life Insurance Benefit will vary with your Policy's Cash Value and you will generally have higher total Policy Cost of Insurance charges and higher Life Insurance Proceeds than under Option 1. While this option may allow you to accumulate Cash Value, the Life Insurance Benefit will be subject to an investment risk.

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

&nbsp;&nbsp;&nbsp;&nbsp;● If you choose Option 3, your Life Insurance Benefit will vary with your Policy's Cumulative Premium and you will generally have higher total Policy Cost of Insurance charges and higher Life Insurance Proceeds than under Option 1. While this option does not subject you to the investment risk that could result from electing Option 2, it may not provide you with the potential to maximize investment opportunities.

The Life Insurance Benefit Option you choose will affect your Policy's Target Premium via its constituent Face Amount (See "Distribution and Compensation Arrangements" for more information). As Target Premiums, in turn, affect the amount of compensation received by your registered representative, they have the potential to influence the recommendation made by your registered representative or broker-dealer as to the Face Amount that will form part of the Life Insurance Benefit Option you choose.

There is no minimum Life Insurance Proceeds guarantee associated with the Policy.

Tax law provisions relating to "employer-owned life insurance contracts" may impact whether and to what extent the Life Insurance Proceeds may be received on a tax-free basis. You may be required to take certain actions before acquiring the Policy to ensure that such benefit may be received on a tax-free basis. See the discussion under "Federal Income Tax Considerations—Life Insurance Status of Policy" and "—IRC Section 101(j)-Impact on Employer-Owned Policies" for more information.

***Effect of Investment Performance on the Life Insurance Benefit***

Positive investment experience in the Investment Divisions may result in a death benefit that will be greater than the Face Amount, but negative investment experience will never result in a Life Insurance Benefit that will be less than the Face Amount, so long as the Policy remains in force.

*Example 1*: The following example shows how the Life Insurance Benefit varies as a result of investment performance on a Policy, assuming that Life Insurance Benefit Option 1 and the GPT table have been selected and that the Insured is a male with a Non-Smoker underwriting class, and assuming that the age at death is 45:

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| | | |
|:---|:---|:---|
|  | **Policy A** | **Policy B** |
| (1) Face Amount | $100000 | $100000 |
| (2) Alternative Cash Surrender on Date of Death | $50000 | $40000 |
| (3) Percentage on Date of Death from GPT table | 215% | 215% |
| (4) Alternative Cash Surrender Value multiplied by Percentage from GPT <br> table<br>| $107500 | $86000 |
| (5) Life Insurance Benefit = Greater of (1) and (4) | $107500 | $100000 |

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*Example 2*: The following example shows how the Life Insurance Benefit varies as a result of investment performance on a Policy, assuming that Life Insurance Benefit Option 1 and the CVAT table have been selected and that the Insured is a male with a Non-Smoker, and assuming that the age at death is 45:

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| | | |
|:---|:---|:---|
|  | **Policy A** | **Policy B** |
| (1) Face Amount | $100000 | $100000 |
| (2) Alternative Cash Surrender on Date of Death | $50000 | $40000 |
| (3) Percentage on Date of Death from CVAT table | 288% | 288% |
| (4) Alternative Cash Surrender Value multiplied by Percentage from CVAT <br> table<br>| $144000 | $115200 |
| (5) Life Insurance Benefit = Greater of (1) and (4) | $144000 | $115200 |

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***Changing Your Life Insurance Benefit Option***

On or after the first Policy Anniversary, you may change the Life Insurance Benefit Option while the Insured is alive. However, Life Insurance Benefit Option changes to Option 3 will not be allowed at any time while the Insured is alive. We reserve the right to limit the number of changes to the Life Insurance Benefit Option. Any change will take effect on the Monthly Deduction Day on or after the date we approve the Policyowner's Request. The Face Amount of the Policy after a change in option will be an amount that results in the Life Insurance Benefit after the change being equal to the Life Insurance Benefit before the change.

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| | |
|:---|:---|
| ***Changes from Option 1 to Option 2*** | ***Changes from Option 2 to Option 1*** |
| &nbsp;&nbsp; If you change from Option 1 to Option 2, the Face <br> Amount of the Policy will be decreased by the sum of <br> the Alternative Cash Surrender Value plus Policy Debt.<br>| &nbsp;&nbsp;&nbsp; If you change from Option 2 to Option 1, the Face <br> Amount of the Policy will be increased by the <br> Alternative Cash Surrender Value plus Policy Debt.<br>|
| ***Changes from Option 3 to Option 1*** | ***Changes from Option 3 to Option 2*** |
| &nbsp;&nbsp; If you change from Option 3 to Option 1, the Face <br> Amount of the Policy will increase by the Cumulative <br> Premiums.<br>| &nbsp;&nbsp;&nbsp; If you change from Option 3 to Option 2, the Face <br> Amount of the Policy will increase by the difference <br> between the ACSV plus Policy Debt and the <br> Cumulative Premiums.<br>|
| ***Changes to Option 3 are prohibited.*** | ***Changes to Option 3 are prohibited.*** |

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We reserve the right to limit changes in the Life Insurance Benefit Option that would cause the Face Amount to fall below our minimum amount requirements.

To change your Life Insurance Benefit Option, you must submit a Request. **Changing your Life Insurance Benefit Option may have tax consequences. You should consult a tax advisor before changing your Life Insurance Benefit Option.**

**Additional Policy Provisions**

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***Change of Ownership***

A successor policyowner may be named in the application in a form we provide, or be designated in a Request. The successor policyowner will become the new policyowner when the original policyowner dies, if the original policyowner dies before the Insured. If no successor policyowner survives the original policyowner and the original policyowner dies (or ceases to exist) before the Insured, the original policyowner's estate (or successor in interest) becomes the new policyowner.

The policyowner may also change the policyowner by sending a Request. When this change takes effect, all rights of ownership in the Policy will pass to the new policyowner.

When we record a change of policyowner or successor policyowner, these changes will take effect as of the date of the policyowner's Notice, unless otherwise specified by the policyowner. This is subject to any payments we made or action we took before recording these changes. We may require that these changes be endorsed in the Policy. Changing the policyowner or naming a new successor policyowner cancels any prior choice of policyowner or successor policyowner, respectively, but does not change the beneficiary. You are eligible to receive the ACSV, provided the Policy has not been assigned and the owner has not been changed, unless that change (i) was the result of a merger or acquisition and the successor owner was your wholly owned subsidiary or a corporation under which you were a wholly owned subsidiary on the date ownership changed, or (ii) was to a trust established by you for the purposes of providing employee benefits.

***Limits On Our Rights To Challenge Your Policy***

Generally, we must bring any legal action contesting the validity of your Policy within two years of the Issue Date. After that, we cannot contest its validity, except for failure to pay Premiums, unless the Insured died within that two-year period, or for cases of fraud in the procurement of your Policy, but only when permitted in the state where your Policy was delivered. However, for any increase(s) in Face Amount, Target Face Amount, or Term Insurance Benefit provided by a rider, other than one due to a change in the Life Insurance Benefit Option, this two-year period begins on the effective date of the increase. We may contest the payment of that amount only on the basis of those

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statements made in the application for an increase in Face Amount. However, our right to contest the Policy will not apply to an increase in Face Amount that is due simply to a change in the Life Insurance Benefit Option. If the increase in Face Amount is the result of a corresponding decrease in the Term Insurance Benefit, the two-year contestable period for the amount of increase in Face Amount will be measured from the date this corresponding portion of Term Insurance Benefit became effective. Please refer to the Incontestability provision of any riders to your Policy for more information.

If this Policy ends and is reinstated, we will not contest the Policy after it has been in effect during the lifetime of the Insured for two years from the date of reinstatement.

***Suicide***

If the death of the Insured is a result of suicide within two years of the Issue Date, and while the Policy is in force, we will pay limited Life Insurance Proceeds in one sum to the beneficiary. The limited Life Insurance Proceeds are the total amount of Premiums, less any Policy Debt and/or any partial withdrawal benefits paid. If a suicide occurs within two years of the effective date of an increase in the Face Amount, Target Face Amount, or Term Insurance Benefit, or the Life Insurance Benefit is increased due to an Unplanned Premium payment, we will only pay the monthly Cost of Insurance charges we deducted from Cash Value for that increase or payment in addition to the limited Life Insurance Proceeds, but not the amount of the Face Amount increase. However, if the increase in the Face Amount is the result of a corresponding decrease in the amount of insurance under the STR, the two-year suicide exclusion period for the increase in Face Amount will be measured from the date this corresponding portion of term insurance became effective. No new suicide provision will apply if the Face Amount increase was due solely to a change in the Life Insurance Benefit Option. If the Policy has been reinstated, the two-year suicide exclusion period will begin on the date of reinstatement.

***Misstatement of Age or Gender***

If the Policy application misstates the Insured's age or gender, we will adjust the Cash Value, the Cash Surrender Value, the Alternative Cash Surrender Value, the Life Insurance Benefit, and the benefits under any attached riders to reflect the correct age and gender as of the original Issue Date. We will adjust the Life Insurance Proceeds provided by your Policy based on the most recent mortality charge for the correct date of birth and/or gender. If that correction would cause a reduction in the Policy's Cash Value, the Cash Value will remain unchanged. If that correction would cause an increase in the Cash Value, the Cash Value will be recalculated from the Issue Date using the mortality charge based on the correct age and/or gender.

***Assignment***

While the Insured is living, you may assign a Policy as collateral for a loan or other obligation. In order for this assignment to be binding on us, we must receive a Request for the assignment at our Service Office. We are not responsible for the validity of any assignment. If your Policy is a modified endowment contract, assigning your Policy may result in taxable income and tax penalties to you. (See "Federal Income Tax Considerations" for more information.) The Alternative Cash Surrender Value is generally not available if you assign your Policy. (See "State Variations" and your Policy for more information about assignments.)

**Surrenders**

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***Partial Withdrawals***

You may request a partial withdrawal from your Policy. The minimum partial withdrawal is $500, provided that the Cash Value less the amount of any Policy Debt that would remain after the withdrawal is at least $500. When you take a partial withdrawal, the Cash Value, Cash Surrender Value, Alternative Cash Surrender Value, if applicable, and the Cumulative Premium Amount will be reduced by the amount of the partial withdrawal. To withdraw funds from the Policy, we must receive your signed Request at our Service Office.

*Amount Available for a Partial Surrender*

You may request a partial withdrawal from the Policy for an amount up to the Cash Surrender Value of your Policy. We process a partial surrender as of the Business Day we receive your Request. If we receive your Request after the

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NYSE is closed for trading, or on a day the NYSE is not open for trading, we will deem the day we receive your Request to be the next Business Day. If a partial surrender would reduce the Policy's Face Amount below the minimum Face Amount requirement of $25,000, we reserve the right to require a full surrender. See "Surrenders—Partial Withdrawals—The Effect of a Partial Withdrawal" for more information on how a partial withdrawal may reduce your Face Amount, as applicable.

*Requesting A Partial Withdrawal*

You may request a partial withdrawal from your Policy by sending a Request to our Service Office. Withdrawal requests may also be accepted via fax or e-mail.

Generally, we will pay any partial withdrawal in one lump sum within seven days after we receive all necessary documentation and information in Good Order. However, we may delay payment under certain circumstances. (See "Policy Payment Information—When We Pay Policy Proceeds" for more information.)

Your requested partial withdrawal will be effective on the date we receive your Request. However, if the day we receive your Request is not a Business Day or if your Request is received after the close of regular trading on the NYSE, then the requested partial withdrawal will be effective the next Business Day.

You may make a partial withdrawal if (1) the Insured is living, (2) the partial withdrawal requested is at least $500, and (3) the partial withdrawal will not cause the Policy to fail to qualify as life insurance under IRC Section 7702. When you make a partial withdrawal, we reserve the right to deduct a fee, not to exceed $25, for processing the partial withdrawal. You may specify how much of the partial withdrawal you want taken from the amount you have in each of the Allocation Alternatives. If you do not specify how you would like your partial withdrawal allocated, we will request that you provide us with your allocations in a Notice. If the partial withdrawal Request is greater than the amount in the Allocation Alternatives you have chosen, we will request that you provide to us your allocations in a Notice. A partial withdrawal may result in taxable income to you and a 10% penalty tax may apply on certain early surrenders made before the policyowner attains age 59 ½. (See "Federal Income Tax Considerations.")

*The Effect of a Partial Withdrawal*

When you take a partial withdrawal, we reduce your Cash Value, Cash Surrender Value, Alternative Cash Surrender Value, and the Cumulative Premium Amount by the amount of the partial withdrawal and any applicable partial withdrawal fee. To withdraw funds from the Policy, we must receive your Request.

&nbsp;&nbsp;&nbsp;&nbsp;● **Option 1** 

If you have elected Life Insurance Benefit Option 1, we reduce your Policy's Face Amount by the greater of (a) or (b), where:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) is zero, and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) is the amount of the partial withdrawal less the greater of:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) zero; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) the Alternative Cash Surrender Value immediately prior to the partial withdrawal less the result of the Face Amount immediately prior to the partial withdrawal divided by the applicable percentage, as shown on the Policy Data Pages that corresponds to the Insured's Attained Age at the time of the partial withdrawal.

&nbsp;&nbsp;&nbsp;&nbsp;● **Option 2** 

For Policies where Life Insurance Benefit Option 2 is in effect, a partial withdrawal will not affect the Face Amount.

&nbsp;&nbsp;&nbsp;&nbsp;● **Option 3** 

For Policies where Life Insurance Benefit Option 3 is in effect and the Cumulative Premium Amount is greater than the amount of the partial withdrawal, a partial withdrawal will not affect the Policy's Face Amount. If the Cumulative Premium Amount is less than the amount of the partial withdrawal, the Face Amount will be reduced by the difference between:

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&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 amount of the partial withdrawal less the Cumulative Premium Amount immediately prior to the partial withdrawal; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) the greater of:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) the Alternative Cash Surrender Value of the Policy immediately prior to the partial withdrawal, less the Cumulative Premium Amount, minus the Policy's Face Amount divided by the applicable percentage, as shown on the Policy Data Pages for the Insured's Attained Age at the time of the partial withdrawal; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) zero.

If the above results in zero or a negative amount, there will be no adjustment in the Policy's Face Amount.

The following example shows the effect of a partial withdrawal on the Life Insurance Benefit for Life Insurance Benefit Options 1 and 3, as described above, issued on a male Insured, Attained Age 65:

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| | | | |
|:---|:---|:---|:---|
|  |  | **Option 1** | **Option 3** |
| **Immediately prior to** <br> **partial withdrawal** | Face Amount | $1005000 | $715000 |
| **Immediately prior to** <br> **partial withdrawal** | Death Benefit | $1005000 | $1005000 |
| **Immediately prior to** <br> **partial withdrawal** | ACSV | $500000 | $500000 |
| **Immediately prior to** <br> **partial withdrawal** | Policy Debt | $- | $- |
| **Immediately prior to** <br> **partial withdrawal** | Cumulative Premium |  | 290000 |
| **Immediately prior to** <br> **partial withdrawal** | Partial Withdrawal | $300000 | $300000 |
| **Immediately prior to** <br> **partial withdrawal** | &nbsp;&nbsp; Percentage shown on Table of Cash Value <br> %'s for 7702 Compliance<br>| 201% | 201% |
| **Option 1** | **Face Amount:** | **Face Amount:** | **$1005000** |
| **Option 1** | We reduce Face Amount by the greater of (a) or (b) where: | We reduce Face Amount by the greater of (a) or (b) where: |  |
| **Option 1** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) is 0, and | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) is 0, and | $- |
| **Option 1** | &nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) is the partial withdrawal amount ($300000) less the <br> greater of: | &nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) is the partial withdrawal amount ($300000) less the <br> greater of: | $300000 |
| **Option 1** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) $0; or | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) $0; or | - |
| **Option 1** | &nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) ($500,000 + $0 prior to partial withdrawal) less <br> $1,005,000), divided by 201%. | &nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) ($500,000 + $0 prior to partial withdrawal) less <br> $1,005,000), divided by 201%. | - |
| **Option 1** | &nbsp;&nbsp; **Face Amount Reduction: (partial withdrawal amount** <br> **($300000) less $0)** | &nbsp;&nbsp; **Face Amount Reduction: (partial withdrawal amount** <br> **($300000) less $0)** | **$300000** |
| **Option 1** | **Face Amount Reduced to:** | **Face Amount Reduced to:** | **$705000** |

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| | | |
|:---|:---|:---|
| **Option 3** | **Face Amount:** | **$715000** |
| **Option 3** | &nbsp;&nbsp; If the Cumulative Premiums ($290000) are less than the partial <br> withdrawal amount ($300000), we will reduce the Face Amount <br> by the difference between: |  |
| **Option 3** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a) $300,000 less $290,000 (prior to partial withdrawal); and | $10000 |
| **Option 3** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b) the greater of: | $|
| **Option 3** | &nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;i) $500,000 (ACSV pre-withdrawal) less $290,000 <br> (Cumulative Premiums) less $715,000 (Face Amount) divided by <br> 201%; or | (145721) |
| **Option 3** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;ii) $0. | - |
| **Option 3** | &nbsp;&nbsp; **Face Amount Reduction: (difference between (a) [$10,000]** <br> **and (b) [$0])** | **$10000** |
| **Option 3** | **Face Amount Reduced to:** | **$705000** |

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Any decrease in the Policy's Face Amount caused by the partial withdrawal will first be applied against the most recent increase in Face Amount. It will then be applied to other increases in the Face Amount in the reverse order in which they took place, and then to the initial Face Amount.

***Full Surrenders***

*Cash Value*

After the free look period has expired, or after we receive your Policy delivery receipt, whichever is later, the Cash Value of the Policy is the sum of the Accumulation Value in the Separate Account, the value in the Fixed Account, and the value in the Loan Account. A number of factors affect your Policy's Cash Value, including, but not limited to:

&nbsp;&nbsp;&nbsp;&nbsp;● the amount and frequency of the Premium payments;

&nbsp;&nbsp;&nbsp;&nbsp;● the investment experience of the Investment Divisions you choose;

&nbsp;&nbsp;&nbsp;&nbsp;● the interest credited on the amount in the Fixed Account;

&nbsp;&nbsp;&nbsp;&nbsp;● the amount of any partial withdrawals you make (including any charges you incur as a result of such surrenders); and

&nbsp;&nbsp;&nbsp;&nbsp;● the amount of charges we deduct.

*Cash Surrender Value*

The Cash Surrender Value equals the Cash Value less Policy Debt.

*Alternative Cash Surrender Value*

The Alternative Cash Surrender Value ("ACSV") is equal to the Policy's Cash Value plus the value of the DPL Account.

You are generally eligible to receive the ACSV provided the Policy has not been assigned, and the owner has not been changed, unless that change (1) was the result of a merger or acquisition and the successor owner was your wholly owned subsidiary or a corporation under which you were a wholly owned subsidiary on the date ownership changed, or (2) was to a trust established by you for the purposes of providing employee benefits. The ACSV is not available to support Monthly Deduction Charges or for purposes of a loan or partial withdrawal The ACSV is also not available during the Right to Examine period. The ACSV is not available following the expiration of seven Policy Years (CorpExec VUL II); eight Policy Years (CorpExec VUL III); nine Policy Years (CorpExec VUL IV); and ten Policy Years (CorpExec VUL V).

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***CorpExec VUL II:*** 

The DPL Account value during the first Policy Year is equal to the cumulative Sales Expense Charge and State and Federal Premium Tax Charges collected during the first Policy Year.

The DPL Account value on each Monthly Deduction Day on and or after the first Policy Anniversary will be equal to (a) multiplied by (b), where:

&nbsp;&nbsp;&nbsp;&nbsp;(a) is the cumulative Sales Expense Charge and State and Federal Premium Tax Charges; and

&nbsp;&nbsp;&nbsp;&nbsp;(b) is (i) divided by (ii), where:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) is the number of Monthly Deduction Days remaining until the 7th Policy Anniversary; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) &nbsp;&nbsp;&nbsp;&nbsp;72. After the first seven Policy Years or upon termination of the Policy, the value of the DPL Account is zero.

***CorpExec VUL III:*** 

The DPL Account value during the first Policy Year is equal to the cumulative Sales Expense Charge and State and Federal Premium Tax Charges collected during the first Policy Year. Beginning on the first Policy Anniversary and continuing until the 8th Policy Anniversary, the DPL Account will be amortized monthly on a straight-line basis. The DPL Account value on each Monthly Deduction Day on or after the first Policy Anniversary will be equal to (a) plus (b) minus (c), where:

&nbsp;&nbsp;&nbsp;&nbsp;(a) is the value of the DPL Account as of the prior Monthly Deduction Day;

&nbsp;&nbsp;&nbsp;&nbsp;(b) is the cumulative Sales Expense Charge and State and Federal Premium Tax charges collected since the last Monthly Deduction Day, including the current Monthly Deduction Day; and

&nbsp;&nbsp;&nbsp;&nbsp;(c) is the sum of (a) plus (b), divided by the number of Monthly Deduction Days remaining, including the current Monthly Deduction Day, until the 8th Policy Anniversary.

After the first eight Policy Years or upon termination of the Policy, the value of the DPL Account is zero.

***CorpExec VUL IV:*** 

We will credit interest on any amount placed in the DPL Account as of the Business Day we receive it. The value of the DPL Account during the first Policy Year is equal to the cumulative Sales Expense Charge and State and Federal Premium Tax Charges collected during the first Policy Year and interest credited on these amounts. The DPL Account will be amortized on each Policy Anniversary. The amortized amount will be the value of the DPL Account on the date multiplied by the applicable percentage from the following schedule.

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| | |
|:---|:---|
| Policy Anniversary 1 | 11.1% |
| Policy Anniversary 2 | 12.5% |
| Policy Anniversary 3 | 14.3% |
| Policy Anniversary 4 | 16.7% |
| Policy Anniversary 5 | 20.0% |
| Policy Anniversary 6 | 25.0% |
| Policy Anniversary 7 | 33.3% |
| Policy Anniversary 8 | 50.0% |
| Policy Anniversary 9 | 100.00% |

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The DPL Account value on each Monthly Deduction Day on or after the first Policy Anniversary will be equal to (a) minus (b) plus (c) plus (d), where:

&nbsp;&nbsp;&nbsp;&nbsp;(a) is the value of the DPL Account as of the prior Monthly Deduction Day;

&nbsp;&nbsp;&nbsp;&nbsp;(b) is the amount amortized;

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

&nbsp;&nbsp;&nbsp;&nbsp;(c) is a percentage of the cumulative Sales Expense Charge and State and Federal Premium Tax Charges collected since the last Monthly Deduction Day, including the current Monthly Deduction Day, shown on the following schedule; and

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

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| | |
|:---|:---|
| Policy Year 2 | 88.9% |
| Policy Year 3 | 87.5% |
| Policy Year 4 | 85.7% |
| Policy Year 5 | 83.3% |
| Policy Year 6 | 80.0% |
| Policy Year 7 | 75.0% |
| Policy Year 8 | 66.7% |
| Policy Year 9 | 50.0% |

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&nbsp;&nbsp;&nbsp;&nbsp;(d) is the interest credited for the prior month.

The interest credited to the DPL Account at any time will be based on a rate of interest, which we declare periodically. Such rate will be declared at least annually.

After the first nine Policy Years or upon termination of the Policy, the value of the DPL Account is zero.

***CorpExec VUL V:*** 

We will credit interest on any amount placed in the DPL Account. The value of the DPL Account during the first Policy Year is equal to the cumulative Sales Expense Charge and State and Federal Premium Tax Charges collected during the first Policy Year and interest credited on these amounts. The DPL Account will be amortized on each Policy Anniversary. The amortized amount will be the value of the DPL Account on the date multiplied by the applicable percentage from the following schedule.

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| | |
|:---|:---|
| Policy Anniversary 1 | 9.5% |
| Policy Anniversary 2 | 10.0% |
| Policy Anniversary 3 | 10.5% |
| Policy Anniversary 4 | 12.0% |
| Policy Anniversary 5 | 17.0% |
| Policy Anniversary 6 | 20.0% |
| Policy Anniversary 7 | 23.0% |
| Policy Anniversary 8 | 24.0% |
| Policy Anniversary 9 | 25.0% |
| Policy Anniversary 10 | 100.0% |

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The DPL Account value on each Monthly Deduction Day on or after the first Policy Anniversary will be equal to (a) minus (b) plus (c) plus (d), where:

&nbsp;&nbsp;&nbsp;&nbsp;(a) is the value of the DPL Account as of the prior Monthly Deduction Day;

&nbsp;&nbsp;&nbsp;&nbsp;(b) is the amount amortized;

&nbsp;&nbsp;&nbsp;&nbsp;(c) is a percentage of the cumulative Sales Expense Charge and State and Federal Premium Tax Charges collected since the last Monthly Deduction Day, including the current Monthly Deduction Day, shown on the following schedule; and

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

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| | |
|:---|:---|
| Policy Year 2 | 90.5% |
| Policy Year 3 | 90.0% |
| Policy Year 4 | 89.5% |
| Policy Year 5 | 88.0% |
| Policy Year 6 | 83.0% |

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| | |
|:---|:---|
| Policy Year 7 | 80.0% |
| Policy Year 8 | 77.0% |
| Policy Year 9 | 76.0% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Policy Year <br> 10<br>| 75.0% |

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&nbsp;&nbsp;&nbsp;&nbsp;(d) is the interest credited for the prior month.

The interest credited to the DPL Account at any time will be based on a rate of interest, which we declare periodically. Such rate will be declared at least annually.

After the first ten Policy Years or upon termination of the Policy, the value of the DPL Account is zero.

*Requesting a Surrender*

To surrender a Policy, you must send a Request to our Service Office. Surrender Requests may also be accepted via fax or email.

Upon full surrender, you will receive the Cash Surrender Value or, if applicable, the ACSV less any Policy Debt, while the Insured is alive and this Policy is in effect. We will calculate the Cash Surrender Value or ACSV as of the date on which we receive your Request, unless a later effective date is selected. All insurance will end on the date we receive your Request for full cash surrender at our Service Office.

*When the Surrender is Effective*

Unless you choose a later effective date, your surrender will be effective as of the end of the Business Day our Service Office receives your Request, together with the Policy. If, however, the day we receive your Request is not a Business Day or if your Request is received after the closing of regular trading on the NYSE, the Requested surrender will be effective on the next Business Day on which the NYSE is open. Generally, we will mail the surrender proceeds in one lump sum within seven days after the effective date, subject to the limits explained in "Policy Payment Information—When We Pay Policy Proceeds". All insurance coverage under the Policy and any riders will end on the day we receive your surrender Request. A surrender may result in taxable income and a 10% penalty tax may apply on certain early surrenders made before the policyowner attains age 59 ½. See "Federal Income Tax Considerations" for more information.

**Termination and Reinstatement**

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***Late Period***

If, on a Monthly Deduction Day, your Cash Surrender Value is less than the Monthly Deduction Charges, your Policy will continue until the expiration of the Late Period. (See "State Variations" for state-by-state details.) This may happen even if all the Planned Premiums have been paid. During this period, you have the opportunity to pay any Premium needed to cover any overdue charges. We will mail a notice to your last known address stating this amount. We will send a copy to the last known assignee, if any, on our records. We will mail these notices at least 31 days before the end of the Late Period. Your Policy will remain in effect during the Late Period. However, if we do not receive the required payment before the end of the Late Period, we will terminate your Policy. In such event, you will not receive the Cash Value, Cash Surrender Value, Alternative Cash Surrender Value, Life Insurance Benefit, or any other Policy benefits. No new loans or partial withdrawals may be taken during the Late Period.

If the Insured dies during the Late Period, we will pay the Life Insurance Proceeds to the beneficiary. We will reduce the Life Insurance Benefit by the amount of any Policy Debt and by any unpaid Policy charges or Monthly Deduction Charges for the full Policy Month(s) that run from the beginning of the Late Period through the end of the Policy Month in which the Insured dies.

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***Reinstatement Option***

If your Policy has ended, you may Request that we reinstate your Policy (and any other benefits provided by riders) if all of these conditions are met:

&nbsp;&nbsp;&nbsp;&nbsp;● you send a Request for reinstatement to our Service Office within five years after your Policy is ended;

&nbsp;&nbsp;&nbsp;&nbsp;● the Insured is alive; and

&nbsp;&nbsp;&nbsp;&nbsp;● you have not surrendered your Policy for its full Cash Surrender Value or, if applicable, Alternative Cash Surrender Value.

Keep in mind that a termination and subsequent reinstatement may cause your Policy to become a MEC. MECs are subject to less favorable tax treatment on partial withdrawals or amounts borrowed from the Policy. See "Federal Income Tax Considerations—Modified Endowment Contract Status."

If the required payment is made within 31 days after the end of the Late Period, no proof of insurability is required. If the required payment is not made within 31 days after the end of the Late Period, a written application will be required and you must provide proof of insurability that is acceptable to us.

To reinstate the Policy, you must make a payment sufficient to cover the Monthly Deduction Charges and any other Policy charges to keep the Policy (and any riders) in force for at least three months. This payment will be in lieu of the payment of all Premiums in arrears. You may want to consider paying additional Premium to protect against the impact of potential market fluctuations and performance-related risks on your Cash Value. If, at the time the Policy ended, an outstanding Policy loan was in effect, that loan will also be reinstated. However, accrued simple loan interest at 6.00% from the end of the Late Period to the date of reinstatement must also be paid as part of the consideration paid for the reinstatement. If a Policy loan interest rate of less than 6.00% is in effect when the Policy is reinstated, the interest rate for any Policy Debt at the time of reinstatement will be the same as the Policy loan interest rate.

We will apply your payment to the Allocation Alternatives as of the Business Day we receive it and in accordance with your instructions at the time you make such payment. Payments received after the close of the NYSE (usually 4:00 p.m. Eastern Time) on a Business Day, or on a non-Business Day, will be credited on the next Business Day. The Cash Value that will be reinstated is equal to the Cash Value at the time of lapse. The Cash Surrender Value will be reduced by any Policy Debt, if not repaid.

The effective date of the reinstatement will be the Monthly Deduction Day on or following the date we approve the Request for reinstatement.

New contestability and suicide periods will apply from the effective date of reinstatement.

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**Distribution and Compensation Arrangements**

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NYLIFE Distributors, the underwriter and distributor of the Policies, is registered with the SEC and FINRA as a broker-dealer. The firm is an indirect wholly-owned subsidiary of NYLIC, and an affiliate of NYLIAC. Its principal business address is 30 Hudson Street, Jersey City, New Jersey 07302.

The Policies were sold by registered representatives of NYLIFE Securities, a broker-dealer that is an affiliate of NYLIFE Distributors, and by registered representatives of unaffiliated broker-dealers. Your registered representative is also a licensed insurance agent with NYLIAC. He or she may be qualified to offer other forms of life insurance, annuities, and other investment products. In certain circumstances, NYLIFE Securities registered representatives can sell both products manufactured and issued by NYLIC or its affiliates and products provided by other companies.

As discussed in the Commissions Paid to Dealers section above, the selling broker-dealer and in turn your registered representative will receive compensation for selling you this policy or any other investment product. See "Charges Associated with the Policy—Commissions Paid To Dealers."

Please refer to the Statement of Additional Information ("SAI") for additional information on distribution and compensation arrangements. The SAI is posted at https://dfinview.com/NewYorkLife/TAHD/corpexec-ii-v.

**Federal Income Tax Considerations**

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***Our Intent***

Our intent in the discussion in this section is to provide general information about federal income tax considerations related to the Policies. This is not an exhaustive discussion of all tax questions that might arise under the Policies. This discussion is not intended to be tax advice for you. Tax results may vary according to your particular circumstances, and you may need tax advice in connection with the purchase or use of your Policy.

The discussion in this section is based on our understanding of the present federal income tax laws as they are currently interpreted by the IRS. We have not included any information about applicable state or other tax laws (except as noted in "Other Tax Considerations" below). Further, you should note that tax law changes from time to time. We do not know whether the treatment of life insurance policies under federal income tax or estate or gift tax laws will continue. Future legislation, regulations, or interpretations could adversely affect the tax treatment of life insurance policies. Lastly, there are many areas of the tax law where minimal guidance exists in the form of Treasury Regulations or Revenue Rulings. You should consult a tax advisor for information on the tax treatment of the Policies, for the tax treatment under the laws of your state, or for information on the impact of proposed or future changes in tax legislation, regulations, or interpretations.

The ultimate effect of federal income taxes on values under the Policy and on the economic benefit to you or the beneficiary depends upon NYLIAC's tax status, upon the terms of the Policy, and upon your circumstances.

***Tax Status of NYLIAC and the Separate Account***

NYLIAC is taxed as a life insurance company under Subchapter L of the IRC. The Separate Account is not a separate taxable entity from NYLIAC and we take its operations into account in determining NYLIAC's income tax liability. As a result, NYLIAC takes into account applicable tax attributes of the assets of the Separate Account on its corporate income tax return, including corporate dividends received deductions and foreign tax credits that may be produced by assets of the Separate Account. All investment income and realized net capital gains on the assets of the Separate Account are reinvested and taken into account in determining Policy Cash Values, and are automatically applied to increase the book reserves associated with the Policies. Under existing federal income tax law, neither the investment income nor any net capital gains of the Separate Account are taxed to NYLIAC to the extent those items are applied to increase tax-deductible reserves associated with the Policies.

***Charges for Taxes***

We impose a federal tax charge equal to up to 1.25% of premiums received under the Policy to compensate us for taxes we have to pay under Section 848 of the IRC in connection with our receipt of premiums. We may increase this charge to reflect changes in the IRC or otherwise to reflect changes in the taxes we owe. No other charge is currently

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made to the Separate Account for our federal income taxes that may be attributable to the Separate Account. In the future, we may impose a charge for our federal income taxes attributable to the Separate Account. In addition, depending on the method of calculating interest on amounts allocated to the Fixed Account, we may impose a charge for the Policy's share of NYLIAC's federal income taxes attributable to the Fixed Account.

Under current laws, we may incur state or local taxes (in addition to premium taxes) in several states and localities. At present, we do not charge the Separate Account for these taxes. However, we reserve the right to charge the Separate Account for the portion of such taxes, if any, attributable to the Separate Account or the Policies.

***Diversification Standards and Control Issues***

In addition to other requirements imposed by the IRC, a variable policy will qualify as life insurance under the IRC only if the diversification requirements of IRC Section 817(h) are satisfied by the Separate Account. We intend for the Separate Account to comply with IRC Section 817(h) and related regulations. To satisfy these diversification standards, the regulations generally require that on the last day of each calendar quarter, no more than 55% of the value of a Separate Account's assets can be represented by any one investment, no more than 70% can be represented by any two investments, no more than 80% can be represented by any three investments, and no more than 90% can be represented by any four investments. For purposes of these rules, all securities of the same issuer generally are treated as a single investment, but each U.S. Government agency or instrumentality is treated as a separate issuer. Under a "look through" rule, we are able to meet the diversification requirements by looking through the Separate Account to the underlying Eligible Portfolios. Each of the Funds has committed to us that the Eligible Portfolios will meet the diversification requirements.

The IRS has stated in published rulings that a variable policyowner will be considered the owner of separate account assets if he or she possesses incidents of ownership in those assets, such as the ability to exercise investment control over the assets. In those circumstances, income and gains from the separate account assets would be includable in the variable policyowner's gross income. In connection with its issuance of temporary regulations under IRC Section 817(h) in 1986, the Treasury Department announced that such temporary regulations did not provide guidance concerning the extent to which policyowners could be permitted to direct their investments to particular Investment Divisions of a separate account and that guidance on this issue would be forthcoming. Regulations addressing this issue have not yet been issued or proposed. The ownership rights under your Policy are similar to, but different in certain respects from, those described by the IRS in rulings in which it was determined that policyowners were not owners of separate account assets. For example, you have additional flexibility in allocating premium payments and policy Cash Values. These differences could result in you being treated as the owner of your Policy's pro-rata portion of the assets of the Separate Account. In addition, we do not know what standards will be set forth, if any, in the regulations or rulings which the Treasury Department has stated it expects to issue. We therefore reserve the right to modify the Policy, as deemed appropriate by us, to attempt to prevent you from being considered the owner of your Policy's pro-rata share of the assets of the Separate Account. Moreover, in the event that regulations are adopted or rulings are issued, there can be no assurance that the Eligible Portfolios will continue to be available, will be able to operate as currently described in the Fund prospectuses, or that a Fund will not have to change an Eligible Portfolio's investment objective or investment policies.

***Life Insurance Status of Policy***

We believe that the Policy meets the statutory definition of life insurance under IRC Section 7702 and that you and the beneficiary of your Policy, subject to the discussion below under "IRC Section 101(j)—Impact on Employer-Owned Policies," will receive the same federal income tax treatment as that accorded to owners and beneficiaries of fixed benefit life insurance policies. Specifically, we believe that the Life Insurance Benefit under your Policy will be excludable from the gross income of the beneficiary subject to the terms and conditions of Section 101(a)(1) of the IRC.

In addition, unless the Policy is a "modified endowment contract," in which case the receipt of any loan under the Policy may result in recognition of income to the policyowner, we believe that the policyowner will not be deemed to be in constructive receipt of the Cash Values, including increments thereon, under the Policy until proceeds of the Policy are received upon a surrender of the Policy or a partial withdrawal or, in certain circumstances where there is an existing Policy loan, upon a surrender or lapse of the Policy.

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We reserve the right to make changes to the Policy if we think it is appropriate to attempt to assure qualification of the Policy as a life insurance contract. If a Policy were determined not to qualify as life insurance, the Policy would not provide the tax advantages normally provided by life insurance.

***IRC Section 101(j)—Impact on Employer-Owned Policies***

For an "employer-owned life insurance contract" issued after August 17, 2006 (unless issued in a 1035 exchange for a contract originally issued prior to that date where the new contract is not materially different from the exchanged contract) if certain specific requirements described below are not satisfied, IRC Section 101(j) generally requires policy beneficiaries to treat Life Insurance Proceeds paid under such contract as income to the extent such proceeds exceed the premiums and other amounts paid by the policyowner for the contract. This rule of income inclusion will not apply if, before the policy is issued, the employer-policyowner provides certain Notice to and obtains certain written consents from Insureds (who must be United States citizens or residents) in circumstances where:

&nbsp;&nbsp;&nbsp;&nbsp;(1) the Insured was an individual who was an employee within 12 months of his death;

&nbsp;&nbsp;&nbsp;&nbsp;(2) the Insured was a "highly compensated employee" at the time the contract was issued. In general, highly compensated employees for this purpose are owners of more than 5 percent of the employer, employees who for contracts issued in 2026 received compensation in excess of $160,000 in 2025, directors and anyone else in the top 35 percent of employees based on compensation;

&nbsp;&nbsp;&nbsp;&nbsp;(3) the Life Insurance Proceeds are paid to a family member of the Insured (as defined under Code Section 267(c)(4)), an individual who is a designated beneficiary of the Insured under the policy (other than the policyowner), a trust established for either the family member's or beneficiary's benefit, or the Insured's estate; or

&nbsp;&nbsp;&nbsp;&nbsp;(4) the Life Insurance Proceeds are used to buy an equity interest in the policyholder from the family member, beneficiary, trust or estate.

Policyowners that own one or more contracts subject to IRC Section 101(j) are also subject to annual reporting and record-keeping requirements. In particular, they must file Form 8925 annually with their U.S. income tax return.

If the contract is issued in a 1035 exchange of another employer-owned life insurance contract that satisfied the notice and consent requirements referenced above, you should discuss with your legal and tax advisers whether and to what extent a new notice and consent are required in connection with this exchange.

You should consult with your tax advisor to determine whether and to what extent IRC Section 101(j) may apply to the Policy. Assuming the provision applies, you should, to the extent appropriate (in consultation with your tax advisor), take the necessary steps, before you acquire the Policy, to ensure that the income inclusion rule described above does not apply to the Policy.

***Modified Endowment Contract Status***

Internal Revenue Code Section 7702A defines a class of life insurance policies referred to as modified endowment contracts. Under this provision, the Policies will be treated for tax purposes in one of two ways. Policies that are not classified as modified endowment contracts will be taxed as conventional life insurance policies, as described below. Taxation of pre-death distributions (including loans) from policies that are classified as modified endowment contracts is somewhat different, as described below.

A life insurance policy becomes a "modified endowment contract" if, at any time during the first seven policy years, the sum of actual premiums paid exceeds the sum of the "seven-pay premium." Generally, the "seven-pay premium" is the level annual premium, such that if paid for each of the first seven policy years, will fully pay for all future life insurance and endowment benefits under a life insurance policy. For example, if the "seven-pay premium" was $1,000, the maximum premium that could be paid during the first seven policy years to avoid "modified endowment" treatment would be $1,000 in the first year, $2,000 through the first two years and $3,000 through the first three years, etc. Under this test, a Policy may or may not be a modified endowment contract, depending on the amount of Premium paid during each of the Policy's first seven years. A Policy received in exchange for a modified endowment contract will be taxed as a modified endowment contract even if it would otherwise satisfy the seven-pay test.

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Certain changes in the terms of a Policy, including a reduction in Life Insurance Benefits, will require a Policy to be retested to determine whether the change has caused the Policy to become a modified endowment contract. In addition, if a "material change" occurs at any time while the Policy is in force, a new seven-pay test period will start and the Policy will need to be retested to determine whether it continues to meet the seven-pay test. A "material change" generally includes increases in Life Insurance Benefits, but, where applicable, does not include an increase in Life Insurance Benefits which is attributable to the payment of Premiums necessary to fund the lowest level of Life Insurance Benefits payable during the first seven Policy Years, or which is attributable to the crediting of interest with respect to such Premiums.

Because the Policy provides for flexible Premiums, NYLIAC has instituted procedures to monitor whether, under our current interpretation of the law, increases in Life Insurance Benefits or additional Premiums cause either the start of a new seven-year test period or the taxation of distributions and loans. All additional Premiums will be considered in these determinations.

If a Policy fails the seven-pay test, all distributions (including loans) occurring in the Policy Year of failure and thereafter will be subject to the rules for modified endowment contracts. A recapture provision may also apply to loans and distributions that are received in anticipation of failing the seven-pay test. Under the IRC, any distribution or loan made within two years prior to the date that a policy fails the seven-pay test is considered to have been made in anticipation of the failure.

Any amounts distributed under a "modified endowment contract" (including proceeds of any loan) are taxable to the extent of any accumulated income in the Policy. Penalty taxes may apply to such taxable amounts as well. In general, the amount that may be subject to tax is the excess of the Cash Value (both loaned and unloaned) over the previously unrecovered Premiums paid.

For purposes of determining the amount of income received upon a distribution (or loan) from a modified endowment contract, the IRC requires the aggregation of all modified endowment contracts issued to the same policyowner by an insurer and its affiliates within the same calendar year. Therefore, loans and distributions from any one such policy are taxable to the extent of the income accumulated in all the modified endowment contracts required to be so aggregated.

If any amount is taxable as a distribution of income under a modified endowment contract (as a result of a Policy surrender, a partial withdrawal, or a loan), it may also be subject to a 10% penalty tax under IRC Section 72(v). Limited exceptions from the additional penalty tax are available for certain distributions to individuals who own Policies. The penalty tax will not apply to distributions: (i) that are made on or after the date the taxpayer attains age 591/2; or (ii) that are attributable to the taxpayer's becoming disabled; or (iii) that are part of a series of substantially equal periodic payments (made not less frequently than annually) made for the life or life expectancy of the taxpayer or for the joint lives or joint life expectancies of the taxpayer and his or her beneficiary.

***Status of the Policy After the Insured Is Age 100***

The IRS is considering the status of a life insurance policy after the Insured reaches, in the case of this Policy, age 100. The IRS has not issued final guidance on this issue. There is a risk that the Policy may not qualify as life insurance under the Federal tax law after the Insured becomes age 100 and that the policyowner may become subject to adverse tax consequences at that time. For this reason, a tax advisor should be consulted about the advisability of continuing the Policy after the Insured becomes age 100.

***Policy Surrenders And Partial Withdrawals***

Upon a full surrender of a Policy for its Cash Surrender Value or Alternative Cash Surrender Value, if applicable, you will recognize ordinary income for federal tax purposes to the extent that the Cash Value, or Alternative Cash Surrender Value, as the case may be, less surrender charges and any uncollected additional contract charges, exceeds the investment in your Policy (the total of all Premiums paid but not previously recovered plus any other consideration paid for the Policy). The tax consequences of a partial withdrawal from your Policy will depend upon whether the partial withdrawal results in a reduction of future benefits under your Policy and whether your Policy is a modified endowment contract. If upon a full surrender of a Policy the Premium payments made exceed the surrender proceeds plus the amount of any outstanding loans, you will recognize a loss, which is not deductible for federal income tax purposes.

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If your Policy is not a modified endowment contract, the general rule is that a partial withdrawal from a policy is taxable only to the extent that it exceeds the total investment in the policy. An exception to this general rule applies, however, if a reduction of future benefits occurs during the first fifteen years after a policy is issued and there is a cash distribution associated with that reduction. In such a case, the IRC prescribes a formula under which you may be taxed on all or a part of the amount distributed. After fifteen years, cash distributions from a policy that is not a modified endowment contract will not be subject to federal income tax, except to the extent they exceed the total investment in the policy. We suggest that you consult with a tax advisor in advance of a proposed decrease in Face Amount, a full surrender, or a partial withdrawal.

***3.8 Percent Medicare Tax on Certain Investment Income***

In general, a tax of 3.8 percent will apply to net investment income ("NII") received by an individual taxpayer to the extent his or her modified adjusted gross income ("MAGI") exceeds certain thresholds (e.g., $250,000 in the case of taxpayers filing jointly, $125,000 in the case of a married taxpayer filing separately and $125,000 in the case of other individual taxpayers). For this purpose, NII includes (i) gross income from various investments, including gross income received with respect to annuities that are not held through a tax-qualified plan (e.g., a traditional IRA or Section 403(b) plan) and (ii) net gain attributable to the disposition of property. Such NII (as well as gross income from Qualified Plans) will also increase a taxpayer's MAGI for purposes of the taxable thresholds described above. This tax also applies to trusts and estates under a special set of rules. In 2012, the IRS and the Treasury Department issued guidance regarding this new tax in the form of proposed regulations, which were finalized in 2013. You should consult your tax advisor to determine the applicability of this tax in your individual circumstances and with respect to any amount received in connection with the surrender of this Policy, distributions or partial withdrawals from this Policy or the exercise of other rights and features under this Policy (including Policy loans).

***Policy Loans and Interest Deductions***

We believe that under current law any loan received under your Policy will be treated as Policy Debt to you and that, unless your Policy is a modified endowment contract, no part of any loan under your Policy will constitute income to you. If your Policy is a modified endowment contract (see discussion above) loans will be fully taxable to the extent of the income in the Policy (and in any other contracts with which it must be aggregated) and could be subject to the additional 10% penalty tax described above. Finally, it is possible that a loan could be treated as a taxable distribution if there is no spread or a very small spread between the interest rate charged on the loan and the interest rate credited to the loaned amount.

Internal Revenue Code Section 264 provides that interest paid or accrued on a loan in connection with a policy is generally nondeductible. Certain exceptions apply, however, with respect to policies covering key employees. In addition, in the case of policies not held by individuals, special rules may limit the deductibility of interest on loans that are not made in connection with a policy. We suggest consultation with a tax advisor for further guidance.

In addition, if your Policy lapses or you surrender it with an outstanding loan, and the amount of the loan plus the Cash Surrender Value or, if applicable the Alternative Cash Surrender Value, is more than the Cumulative Premium Amount you paid, you will generally be liable for taxes on the excess. Such amount will be taxed as ordinary income. A 10% penalty tax may apply as well.

***Exchanges, Sales, or Assignments of Policies***

If you change the policyowner or exchange or assign your Policy, it may have significant tax consequences depending on the circumstances. An assignment, sale, or exchange of the Policy may result in taxable income and tax penalties to you. Further, IRC Section 101(a) provides, subject to certain exceptions, that where a policy has been transferred for value, only the portion of the Life Insurance Benefit which is equal to the total consideration paid for the policy may be excluded from gross income. Based on IRS guidance, amounts received in excess of the consideration paid for the Policy may be taxed as ordinary income to the extent of the amount of gain that would have been realized had the Policy been surrendered. Based on the same guidance, amounts received in excess of that amount would be taxed as a capital gain. If you sell your Policy in a reportable policy sale, the Tax Cuts and Jobs Act of 2017 imposes new information reporting requirements on the purchaser and the policy issuer. Under these new reporting requirements, certain information related to the sale may be required to be reported to the IRS and to the seller.

For more information about Policy assignments, sales, and exchanges, you should consult a qualified tax advisor.

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***Qualified Plans***

The Policies may not be used with Qualified Plans.

***Withholding***

Under Section 3405 of the IRC, withholding is generally required with respect to certain taxable distributions under insurance policies. In the case of periodic payments (payments made as an annuity or on a similar basis), the withholding is at graduated rates (as though the payments were employee wages) based on information you furnish on Form W-4P. For non-periodic distributions, the withholding is at a flat rate of 10%, unless you request a different rate of withholding on Form W-4R. You can elect to have either non-periodic or periodic payments made without withholding except where your tax identification number has not been furnished to us, or where the IRS has notified us that a tax identification number is incorrect.

Different withholding rules apply to payments made to U.S. citizens living outside the United States and to non-U.S. citizens living outside of the United States. U.S. citizens who live outside of the United States generally are not permitted to elect not to have federal income taxes withheld from payments. Payments to non-U.S. citizens who are not residents of the United States generally are subject to 30% withholding, unless an income tax treaty between their country of residence and the United States provides for a lower rate of withholding or an exemption from withholding.

Under the Foreign Account Tax Compliance Act ("FATCA"), as reflected in Sections 1471 through 1474 of the IRC, U.S. withholding agents (such as NYLIAC) may be required to obtain certain information to establish the U.S. or non-U.S. status of its account or contract holders (e.g., a Form W-9 or W-8BEN may be required) and perform certain due diligence to ensure that information is accurate. In certain cases, if this information is not obtained, withholding agents, such as NYLIAC may be required to withhold at a 30% rate on certain payments beginning July 1, 2014.

***Business Uses of Policy***

Businesses can use the Policies in various arrangements, including non-qualified deferred compensation or salary continuance plans, split dollar insurance plans, executive bonus plans, tax exempt and nonexempt welfare benefit plans, retiree medical benefit plans and others. The tax consequences of such plans may vary depending on the particular facts and circumstances. If you are purchasing the Policy for any arrangement the value of which depends in part on its tax consequences, you should consult a qualified tax advisor. In recent years, moreover, Congress has adopted new rules relating to life insurance owned by businesses. Any business contemplating the purchase of a new policy or a change in an existing Policy should consult a tax advisor.

***Non-Individual Owners and Business Beneficiaries of Policies***

If a Policy is owned or held by a corporation, trust or other entity that is not a natural person, this could jeopardize some or all of such entity's interest deduction under IRC Section 264, even where such entity's indebtedness is in no way connected to the Policy. In addition, under IRC Section 264(f)(5), if a business (other than a sole proprietorship) is directly or indirectly a beneficiary of a Policy, the Policy could be treated as held by the business for purposes of the IRC Section 264(f) entity-holder rules. A qualified tax advisor should be consulted before any non-natural person is made an owner or holder of a Policy, or before a business (other than a sole proprietorship) is made a beneficiary of a Policy.

***Corporate Owners***

Ownership of a policy by a corporation may affect the policyowner's exposure to the corporate alternative minimum tax enacted under the Inflation Reduction Act of 2022 ("CAMT"). The CAMT applies to certain large corporations that satisfy certain financial thresholds over certain periods of time. It is a minimum tax system intended to ensure that applicable corporations annually pay at least a 15% tax on adjusted financial statement income, as defined under CAMT (the "Minimum Tax"). If the Minimum Tax exceeds the amount of tax an applicable corporation would pay under the regular corporate tax system for a given year, the corporation may have an additional tax obligation under CAMT. There may be a credit for such additional tax in a later year. You should discuss with your tax advisor whether and to what extent ownership of the policy may cause you to be subject to the CAMT in any given tax year.

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***Split-Dollar Arrangements***

The IRS and the Treasury Department have issued guidance that substantially affects split-dollar arrangements. Consult a qualified tax advisor before entering into or paying additional premiums with respect to such arrangements.

Additionally, the Sarbanes-Oxley Act of 2002 (the "Act") prohibits, with limited exceptions, publicly-traded companies, including non-U.S. companies that have securities listed on exchanges in the United States, from extending, directly or through a subsidiary, many types of personal loans to their directors or executive officers. It is possible that this prohibition may be interpreted as applying to split-dollar life insurance policies for directors and executive officers of such companies, since such insurance arguably can be viewed as involving a loan from the employer for at least some purposes. Although the prohibition on loans is generally effective as of July 30, 2002, there is an exception for loans outstanding as of the date of enactment, so long as there is no material modification to the loan terms and the loan is not renewed after July 30, 2002.

Any affected business contemplating the payment of a premium on an existing policy, or the purchase of a new policy, in connection with a split-dollar life insurance arrangement should consult legal counsel.

***Tax Shelter Regulations***

Prospective owners that are corporations should consult a tax advisor about the treatment of the Policy under the Treasury Regulations applicable to corporate tax shelters.

***Other Tax Considerations***

The transfer of the Policy or designation of a beneficiary may have federal, state, and/or local transfer and inheritance tax consequences, including the imposition of gift, estate, and generation-skipping transfer taxes. For example, the transfer of the Policy to, or the designation as a beneficiary of, or the payment of proceeds to, a person who is assigned to a generation which is two or more generations below the generation assignment of the owner may have generation-skipping transfer tax consequences under federal tax law.

The individual situation of each policyowner or beneficiary will determine the extent, if any, to which federal, state, and local transfer and inheritance taxes may be imposed and how ownership or receipt of life insurance proceeds will be treated for purposes of federal, state and local estate, inheritance, GST and other taxes.

For 2026, the federal estate tax, gift tax, and generation-skipping transfer tax exemptions and maximum rates are $15,000,000, (as adjusted for inflation starting in 2027), and 40%, respectively. The 2027 exemption amount is currently set to change to a substantially lower amount (expected to be approximately $7,000,000) if no legislation is enacted that would extend current law beyond 2025.

The uncertainty as to how the current law might be modified in coming years underscores the importance of seeking guidance from a qualified advisor to help ensure that your estate plan adequately addresses your needs and those of your beneficiaries under all possible scenarios.

***Life Insurance Purchases by Residents of Puerto Rico***

In Rev. Rul. 2004-75, 2004-31 I.R.B. 109, the IRS announced that income received by residents of Puerto Rico under life insurance contracts issued by a Puerto Rico branch of a United States life insurance company is U.S.-source income that is generally subject to United States Federal income tax.

**Legal Proceedings**

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NYLIAC is a defendant in lawsuits arising from its agency sales force, insurance (including variable contracts registered under Federal securities law), and/or other operations. Some of these actions seek substantial or unspecified compensatory and punitive damages. NYLIAC is also from time to time involved in various governmental, administrative, and investigative proceedings and inquiries.

Notwithstanding the uncertain nature of litigation and regulatory inquiries, the outcome of which cannot be predicted, NYLIAC believes that, after provisions made in the financial statements, the ultimate liability that could result from litigation and proceedings would not have a material adverse effect on NYLIAC's financial position;

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however, it is possible, that settlements or adverse determinations in one or more actions or other proceedings in the future could have a material adverse effect on NYLIAC's operating results for a given year.

**Records and Reports**

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NYLIC or NYLIAC maintains all records and accounts relating to the Separate Account and the Fixed Account. Each year, we will mail you a report showing your Policy's Cash Value, Cash Surrender Value (and, if applicable, Alternative Cash Surrender Value), and outstanding loans (including accrued loan interest) as of the latest Policy Anniversary. This report contains any additional information required by any applicable law or regulation. We will also mail you a report each quarter showing this same information as of the end of the previous quarter. This quarterly statement reports Policy transactions that you have Requested or authorized. Please review it carefully.

It is important that you inform NYLIAC of an address change so that you can receive these Policy statements (please refer to the section on "Management and Organization—Our Rights" and "—How to Reach Us for Policy Services.") In the event that your statement is returned from the U.S. Postal Service as undeliverable, we reserve the right to suspend mailing future correspondence and also suspend current Policy transactions processing until a correct address is obtained. Additionally, no new service requests can be processed until a valid address is provided.

Reports and promotional literature may contain the ratings NYLIC and NYLIAC have received from independent rating agencies. Both companies are among only a few companies that have consistently received among the highest possible ratings from the four major independent rating companies for financial strength and stability: A.M. Best, Fitch, Moody's Investor's Services, Inc. and Standard and Poor's. However, neither NYLIC nor NYLIAC guarantees the investment performance of the Investment Divisions.

**Financial Statements**

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The statutory statements of financial position of NYLIAC as of December 31, 2025 and 2024, and the related statutory statements of operations, of changes in capital and surplus, and of cash flows for each of the three years in the period ended December 31, 2025 (including the report of the independent registered public accounting firm) and each of the investment divisions of the Separate Account's statements of assets and liabilities as of December 31, 2025, and the statements of operations and of changes in net assets and the financial highlights for each of the periods indicated in the Financial Statements (including the report of the independent registered public accounting firm) are incorporated by reference in the SAI. The independent registered public accounting firm is PricewaterhouseCoopers LLP.

**State Variations**

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The following lists all material state variations to the statements made in this prospectus regarding Free Look in certain jurisdictions. There may be variations in other states as well. For more information, please review your Policy.

***California:*** 

&nbsp;&nbsp;&nbsp;&nbsp;● **Free Look.** Within 20 days after delivery (30 days if you are 60 or more and you, not your employer, own the Policy), you can return the Policy to NYLIAC or to the registered representative through whom it was purchased. If this Policy is returned, the Policy will be void from the start and a refund will be made within 30 days from the date we are notified. The amount we refund will equal the Policy's Cash Value as of the date the Policy is returned plus any charges which were deducted from any Premiums paid less loans and withdrawals.

***District of Columbia:*** 

&nbsp;&nbsp;&nbsp;&nbsp;● **Free Look.** Within 20 days after delivery, or if later, within 45 days of the date of execution of the application, you can return the Policy to NYLIAC or to the registered representative through whom it was purchased. If this Policy is returned, the Policy will be void from the start and a refund will be made. The amount we refund will equal the greater of the Policy's Cash Value as of the date the Policy is returned or the Premiums paid less loans and withdrawals.

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***New York:*** 

&nbsp;&nbsp;&nbsp;&nbsp;● **Free Look.** Within 10 days after delivery, you can return the Policy to NYLIAC or to the registered representative through whom it was purchased. If this Policy is returned, the Policy will be void from the start and a refund will be made. The amount we refund will equal the greater of the Policy's Cash Value as of the date the Policy is returned to the Home Office, the Service Office, or the registered representative through whom it was purchased, or the Premiums paid less loans and withdrawals.

***North Carolina:*** 

&nbsp;&nbsp;&nbsp;&nbsp;● **Free Look.** Within 20 days after delivery, or if later within 45 days of the date of execution of the application, you can return the Policy to NYLIAC or to the registered representative through whom it was purchased. If this Policy is returned, the Policy will be void from the start and a refund will be made. The amount we refund will equal the greater of the Policy's Cash Value as of the date the Policy is returned or the Premiums paid (including any charges which were deducted) less loans and withdrawals.

***Oklahoma:*** 

&nbsp;&nbsp;&nbsp;&nbsp;● **Free Look.** Within 20 days after delivery, you can return the Policy to NYLIAC or to the registered representative through whom it was purchased. If this Policy is returned, the Policy will be void from the start and a refund will be made. The amount we refund will equal the greater of the Policy's Cash Value as of the date the Policy is returned or the Premiums paid less loans and withdrawals. If the refund is not made within 30 days of cancellation, the amount of the refund will accumulate at interest, as required by the Insurance Code of the State of Oklahoma.

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**Appendix: Eligible Portfolios Available Under the Policy**

The following is a list of Eligible Portfolios available under the Policy as of the date of this Prospectus. Generally, you may allocate your Net Premiums or Cash Value among up to 20 of the Eligible Portfolios at any one time as well as to the Fixed Account. More information about the Eligible Portfolios is available in the prospectuses for the Eligible Portfolios, which may be amended from time to time and can be found online at https://dfinview.com/NewYorkLife/TAHD/corpexec-ii-v. You can also request this information at no cost by calling our Service Office at (888) 695-4748, faxing us at (913) 906-4129, or emailing us at NYLAMN_Service@newyorklife.com.

The current expenses and performance information below reflects fees and expenses of the Eligible Portfolios, but do 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 Eligible Portfolio's past performance is not necessarily an indication of future performance.

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| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Type** | **Eligible Portfolio and** <br> **Advisers/Sub-Adviser** | **Current**<br> **Expenses** | **Average Annual Total Returns**<br> **(as of 12/31/2025)** | **Average Annual Total Returns**<br> **(as of 12/31/2025)** | **Average Annual Total Returns**<br> **(as of 12/31/2025)** |
| **Type** | **Eligible Portfolio and** <br> **Advisers/Sub-Adviser** | **Current**<br> **Expenses** | **1 year** | **5 year** | **10 year** |
| Large Cap Equity | NYLIM VP American Century Large <br> Cap Equity (formerly NYLI VP <br> American Century Sustainable <br>Equity)–Initial Class<br>*Adviser: New York Life Investment* <br> *Management LLC ("New York Life* <br> *Investments") / Sub-Adviser: American* <br> *Century Investment Management, Inc.* <br> *("ACIM")*<br>| 0.68% | 11.34% | 13.96% | 11.86% |
| Investment Grade Bond | NYLIM VP Bond (formerly NYLI VP <br> Bond)–Initial Class<br>*Adviser: New York Life Investments /* <br> *Sub-Adviser: NYL Investors LLC* <br> *("NYLI")*<br>| 0.55% | 6.83% | (0.63%) | 1.96% |
| International/Global Equity | NYLIM VP Candriam Emerging <br> Markets Equity (formerly NYLI VP <br> Candriam Emerging Markets <br> Equity)–Initial Class\*\*<br>*Adviser: New York Life Investments /* <br> *Sub-Adviser: Candriam*<br>| 1.20% | 35.88% | 2.77% | 7.65% |
| Large Cap Equity | NYLIM VP Dimensional U.S. Equity <br> (formerly NYLI VP Dimensional U.S. <br> Equity)–Initial Class<br>*Adviser: New York Life Investments /* <br> *Sub-Adviser: Dimensional Fund* <br> *Advisors L.P. ("DFA")*<br>| 0.54% | 13.75% | 12.39% | 12.68% |
| Large Cap Equity | NYLIM VP Epoch U.S. Equity Yield <br> (formerly NYLI VP Epoch U.S. Equity <br> Yield)–Initial Class<br>*Adviser: New York Life Investments /* <br> *Sub-Adviser: Epoch Investment* <br> *Partners, Inc.*<br>| 0.68% | 14.24% | 12.02% | 9.96% |

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| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Type** | **Eligible Portfolio and** <br> **Advisers/Sub-Adviser** | **Current**<br> **Expenses** | **Average Annual Total Returns**<br> **(as of 12/31/2025)** | **Average Annual Total Returns**<br> **(as of 12/31/2025)** | **Average Annual Total Returns**<br> **(as of 12/31/2025)** |
| **Type** | **Eligible Portfolio and** <br> **Advisers/Sub-Adviser** | **Current**<br> **Expenses** | **1 year** | **5 year** | **10 year** |
| Sector | NYLIM VP Fidelity Institutional AM<sup>®</sup> <br> Utilities (formerly NYLI VP Fidelity <br> Institutional AM<sup>®</sup> Utilities)–Initial Class<br>*Adviser: New York Life Investments /* <br> *Sub-Adviser: FIAM LLC*<br>| 0.68% | 13.79% | 12.34% | 10.97% |
| Non-Investment Grade Bond | NYLIM VP Floating Rate (formerly <br> NYLI VP Floating Rate)–Initial Class<br>*Adviser: New York Life Investments /* <br> *Sub-Adviser: NYLI*<br>| 0.64% | 5.13% | 5.43% | 5.01% |
| Alternatives | NYLIM VP Hedge Multi-Strategy <br> (formerly NYLI VP Hedge <br> Multi-Strategy)–Initial Class<br>*Adviser: New York Life Investments*<br>| 1.01% | 8.05% | 2.92% | 2.07% |
| Asset Allocation | NYLIM VP Income Builder (formerly <br> NYLI VP Income Builder)–Initial Class<br>*Adviser: New York Life Investments /* <br> *Sub-Advisers: Epoch Investment* <br> *Partners, Inc. and MacKay Shields LLC* <br> *("MacKay")*<br>| 0.63% | 16.99% | 6.56% | 7.40% |
| Asset Allocation | NYLIM VP Janus Henderson Balanced <br> (formerly NYLI VP Janus Henderson <br> Balanced)–Initial Class<br>*Adviser: New York Life Investments /* <br> *Sub-Adviser: Janus Henderson* <br> *Investors US LLC ("Janus")*<br>| 0.58% | 15.05% | 8.58% | 10.19% |
| Non-Investment Grade Bond | NYLIM VP MacKay Convertible <br> (formerly NYLI VP MacKay <br> Convertible)–Initial Class<br>*Adviser: New York Life Investments /* <br> *Sub-Adviser: MacKay*<br>| 0.59% | 16.40% | 5.60% | 10.38% |
| Non-Investment Grade Bond <br>| NYLIM VP MacKay High Yield <br> Corporate Bond (formerly NYLI VP <br> MacKay High Yield Corporate <br> Bond)–Initial Class<br>*Adviser: New York Life Investments /* <br> *Sub-Adviser: MacKay*<br>| 0.59% | 6.87% | 4.44% | 6.14% |
| Investment Grade Bond | NYLIM VP MacKay U.S. Infrastructure <br> Bond (formerly NYLI VP MacKay U.S. <br> infrastructure Bond)–Initial Class<br>*Adviser: New York Life Investments /* <br> *Sub-Adviser: MacKay*<br>| 0.57% | 8.44% | 0.10% | 1.38% |

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| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Type** | **Eligible Portfolio and** <br> **Advisers/Sub-Adviser** | **Current**<br> **Expenses** | **Average Annual Total Returns**<br> **(as of 12/31/2025)** | **Average Annual Total Returns**<br> **(as of 12/31/2025)** | **Average Annual Total Returns**<br> **(as of 12/31/2025)** |
| **Type** | **Eligible Portfolio and** <br> **Advisers/Sub-Adviser** | **Current**<br> **Expenses** | **1 year** | **5 year** | **10 year** |
| Sector | NYLIM VP Natural Resources (formerly <br> NYLI VP Natural Resources)–Initial <br> Class<br>*Adviser: New York Life Investments /* <br> *Sub-Adviser: Newton Investment* <br> *Management North America, LLC* <br> *("NIMNA")*<br>| 0.85% | 15.20% | 17.27% | 10.88% |
| International/Global Equity | NYLIM VP PineStone International <br> Equity (formerly NYLI VP PineStone <br> International Equity)–Initial Class<br>*Adviser: New York Life Investments /* <br> *Sub-Adviser: PineStone Asset* <br> *Management Inc.*<br>| 0.86% | 12.29% | 0.20% | 5.44% |
| Large Cap Equity | NYLIM VP S&P 500 Index (formerly <br> NYLI VP S&P 500 Index)–Initial Class\*\*<br>*Adviser: New York Life Investments*<br>| 0.12% | 17.72% | 14.28% | 14.63% |
| Small/Mid Cap Equity | NYLIM VP Schroders Mid Cap <br> Opportunities (formerly NYLI VP <br> Schroders Mid Cap <br> Opportunities)–Initial Class<br>*Adviser: New York Life Investments /* <br> *Sub-Adviser: Schroder Investment* <br> *Management North America Inc.*<br>| 0.83% | 7.27% | 5.05% | 7.39% |
| Small/Mid Cap Equity | NYLIM VP Small Cap Growth (formerly <br> NYLI VP Small Cap Growth)–Initial <br> Class<br>*Adviser: New York Life Investments /* <br> *Sub-Advisers: Brown Advisory, LLC and* <br> *Segall Bryant & Hamill, LLC*<br>| 0.85% | 10.41% | 7.76% | 8.33% |
| Money Market | NYLIM VP U.S. Government Money <br> Market (formerly NYLI VP U.S. <br> Government Money Market)–Initial <br> Class<br>*Adviser: New York Life Investments /* <br> *Sub-Adviser: NYLI*<br>| 0.28% | 4.05% | 3.02% | 1.89% |
| Large Cap Equity | NYLIM VP Wellington Growth (formerly <br> NYLI VP Wellington Growth)–Initial <br> Class\*\*<br>*Adviser: New York Life Investments /* <br> *Sub-Adviser: Wellington Management* <br> *Company LLP ("Wellington")*<br>| 0.73% | 17.06% | 10.37% | 13.45% |

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| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Type** | **Eligible Portfolio and** <br> **Advisers/Sub-Adviser** | **Current**<br> **Expenses** | **Average Annual Total Returns**<br> **(as of 12/31/2025)** | **Average Annual Total Returns**<br> **(as of 12/31/2025)** | **Average Annual Total Returns**<br> **(as of 12/31/2025)** |
| **Type** | **Eligible Portfolio and** <br> **Advisers/Sub-Adviser** | **Current**<br> **Expenses** | **1 year** | **5 year** | **10 year** |
| Small/Mid Cap Equity | NYLIM VP Wellington Small Cap <br> (formerly NYLI VP Wellington Small <br> Cap)–Initial Class<br>*Adviser: New York Life Investments /* <br> *Sub-Adviser: Wellington*<br>| 0.75% | 9.53% | 5.93% | 7.41% |
| Large Cap Equity | NYLIM VP Winslow Large Cap Growth <br> (formerly NYLI VP Winslow Large Cap <br> Growth)–Initial Class<br>*Adviser: New York Life Investments /* <br> *Sub-Adviser: Winslow Capital* <br> *Management, LLC*<br>| 0.75% | 14.35% | 12.69% | 16.14% |
| Small/Mid Cap Equity | AB VPS Discovery Value <br> Portfolio–Class A<br>*Adviser: AllianceBernstein L.P. ("AB")*<br>| 0.82% | 2.89% | 8.75% | 8.55% |
| International/Global Equity | AB VPS International Value <br> Portfolio–Class A\*<br>*Adviser: AB*<br>| 0.90% | 41.70% | 10.47% | 6.64% |
| Large Cap Equity | AB VPS Large Cap Growth <br> Portfolio–Class A<br>*Adviser: AB*<br>| 0.65% | 13.13% | 12.04% | 16.17% |
| Large Cap Equity | AB VPS Relative Value Portfolio–Class <br> A<br>*Adviser: AB*<br>| 0.59% | 10.47% | 11.42% | 10.57% |
| Small/Mid Cap Equity | AB VPS Small Cap Growth <br> Portfolio–Class A<br>*Adviser: AB*<br>| 0.90% | 4.80% | (0.44%) | 11.26% |
| Small/Mid Cap Equity | Alger Small Cap Growth <br> Portfolio–Class I-2 Shares<br>*Adviser: Fred Alger Management, LLC* <br> *(Weatherbie Capital, LLC)*<br>| 0.97% | 5.91% | (4.93%) | 8.83% |
| Asset Allocation | American Funds<sup>®</sup> IS American Funds <br> Global Balanced Fund–Class 1<br>*Adviser: Capital Research and* <br> *Management* Company<sup>SM</sup> *("CRMC")*<br>| 0.51% | 17.42% | 6.37% | 7.96% |
| Asset Allocation | American Funds<sup>®</sup> IS Asset Allocation <br> Fund–Class 1<br>*Adviser: CRMC*<br>| 0.29% | 16.16% | 9.24% | 10.05% |

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| | | | | |
|:---|:---|:---|:---|:---|
| **Type** | **Current**<br> **Expenses** | **Average Annual Total Returns**<br> **(as of 12/31/2025)** | **Average Annual Total Returns**<br> **(as of 12/31/2025)** | **Average Annual Total Returns**<br> **(as of 12/31/2025)** |
| **Type** | **Current**<br> **Expenses** | **1 year** | **5 year** | **10 year** |
| Investment Grade Bond<br> American Funds<sup>®</sup> IS The Bond Fund of <br> America<sup>®</sup>–Class 1<br>*Adviser: CRMC*<br>| 0.22% | 7.40% | 0.10% | 2.61% |
| Investment Grade Bond<br> American Funds<sup>®</sup> IS Capital World <br> Bond Fund<sup>®</sup>–Class 1<br>*Adviser: CRMC*<br>| 0.48% | 9.55% | (2.27%) | 1.47% |
| International/Global Equity<br> American Funds<sup>®</sup> IS EUPAC Fund<sup>TM</sup> <br> (formerly American Funds<sup>®</sup> IS <br> International Fund)–Class 1<br>*Adviser: CRMC*<br>| 0.47% | 27.04% | 3.66% | 7.26% |
| International/Global Equity<br> American Funds<sup>®</sup> IS Global Growth <br> Fund–Class 1<br>*Adviser: CRMC*<br>| 0.40% | 21.98% | 8.51% | 12.46% |
| Large Cap Equity<br> American Funds<sup>®</sup> IS Growth <br> Fund–Class 1<br>*Adviser: CRMC*<br>| 0.33% | 20.54% | 13.66% | 18.26% |
| Large Cap Equity<br> American Funds<sup>®</sup> IS Growth-Income <br> Fund–Class 1<br>*Adviser: CRMC*<br>| 0.28% | 18.37% | 14.19% | 14.20% |
| International/Global Equity<br> American Funds<sup>®</sup> IS New World <br> Fund<sup>®</sup>–Class 1<br>*Adviser: CRMC*<br>| 0.57% | 28.60% | 5.59% | 9.53% |
| International/Global Equity<br> American Funds<sup>®</sup> IS SMALLCAP World <br> Fund<sup>®</sup> (formerly American Funds<sup>®</sup> IS <br> Global Small Capitalization <br> Fund)–Class 1<br>*Adviser: CRMC*<br>| 0.65% | 14.89% | 0.73% | 7.50% |
| Investment Grade Bond<br> American Funds<sup>®</sup> IS U.S. Government <br> Securities Fund<sup>®</sup>–Class 1<br>*Adviser: CRMC*<br>| 0.25% | 8.01% | 0.01% | 1.95% |
| Large Cap Equity<br> American Funds<sup>®</sup> IS Washington <br> Mutual Investors Fund–Class 1<br>*Adviser: CRMC*<br>| 0.25% | 17.50% | 14.17% | 12.65% |

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| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Type** | **Eligible Portfolio and** <br> **Advisers/Sub-Adviser** | **Current**<br> **Expenses** | **Average Annual Total Returns**<br> **(as of 12/31/2025)** | **Average Annual Total Returns**<br> **(as of 12/31/2025)** | **Average Annual Total Returns**<br> **(as of 12/31/2025)** |
| **Type** | **Eligible Portfolio and** <br> **Advisers/Sub-Adviser** | **Current**<br> **Expenses** | **1 year** | **5 year** | **10 year** |
| Asset Allocation | BlackRock<sup>®</sup> Global Allocation V.I. <br> Fund–Class I<br>*Adviser: BlackRock Advisors, LLC* <br> *("BlackRock") / Sub-Advisers:* <br> *BlackRock (Singapore) Limited and* <br> *BlackRock International Limited*<br>| 0.76% | 19.80% | 5.79% | 7.59% |
| Non-Investment Grade Bond | BlackRock<sup>®</sup> High Yield V.I. Fund–Class <br> I<br>*Adviser: BlackRock / Sub-Adviser:* <br> *BlackRock International Limited*<br>| 0.54% | 9.19% | 4.79% | 6.31% |
| Sector | BNY Mellon IP Technology Growth <br> Portfolio–Initial Shares<br>*Adviser: BNY Mellon Investment* <br> *Adviser, Inc. / Sub-Adviser: NIMNA*<br>| 0.82% | 28.16% | 9.24% | 17.27% |
| Large Cap Equity | BNY Mellon Sustainable U.S. Equity <br> Portfolio–Initial Shares<br>*Adviser: BNY Mellon Investment* <br> *Adviser, Inc. / Sub-Advisers: NIMNA* <br> *and Newton Investment Management* <br> *Limited*<br>| 0.66% | 15.97% | 11.93% | 13.56% |
| Small/Mid Cap Equity | BNY Mellon VIF Small Cap Portfolio <br> (formerly BNY Mellon VIF Opportunistic <br> Small Cap Portfolio)–Initial Shares\*<br>*Adviser: BNY Mellon Investment* <br> *Adviser, Inc. / Sub-Adviser: NIMNA*<br>| 0.83% | 10.99% | 4.26% | 7.83% |
| Small/Mid Cap Equity | ClearBridge Variable Small Cap Growth <br> Portfolio–Class I<br>*Adviser: Franklin Templeton Fund* <br> *Adviser, LLC ("FTFA") / Sub-Adviser:* <br> *ClearBridge Investments, LLC* <br> *("ClearBridge")*<br>| 0.81% | 9.23% | (0.17%) | 9.83% |
| Large Cap Equity | Columbia Variable Portfolio–Disciplined <br> Core Fund–Class 1<br>*Adviser: Columbia Management* <br> *Investment Advisers, LLC ("Columbia") /* <br> *Sub-Adviser: Threadneedle* <br> *International Limited*<br>| 0.67% | 26.06% | 14.06% | 12.15% |
| Non-Investment Grade Bond | Columbia Variable Portfolio–Emerging <br> Markets Bond Fund–Class 1<br>*Adviser: Columbia*<br>| 0.75% | 12.78% | 1.70% | 4.28% |

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| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Type** | **Eligible Portfolio and** <br> **Advisers/Sub-Adviser** | **Current**<br> **Expenses** | **Average Annual Total Returns**<br> **(as of 12/31/2025)** | **Average Annual Total Returns**<br> **(as of 12/31/2025)** | **Average Annual Total Returns**<br> **(as of 12/31/2025)** |
| **Type** | **Eligible Portfolio and** <br> **Advisers/Sub-Adviser** | **Current**<br> **Expenses** | **1 year** | **5 year** | **10 year** |
| Investment Grade Bond | Columbia Variable <br> Portfolio–Intermediate Bond <br> Fund–Class 1<br>*Adviser: Columbia*<br>| 0.52% | 9.06% | (0.43%) | 2.77% |
| Small/Mid Cap Equity | Columbia Variable Portfolio–Small <br> Company Growth Fund–Class 1<br>*Adviser: Columbia*<br>| 0.87% | 21.69% | 3.59% | 15.19% |
| Non-Investment Grade Bond <br>| Columbia Variable Portfolio–Strategic <br> Income Fund–Class 1<br>*Adviser: Columbia*<br>| 0.69% | 7.21% | 4.28% | 5.85% |
| Large Cap Equity | Davis Equity Portfolio\*\*<br>*Adviser: Davis Selected Advisers, L.P. /* <br> *Sub-Adviser: Davis Selected* <br> *Advisers—NY, Inc.*<br>| 0.71% | 27.24% | 13.39% | 12.52% |
| Investment Grade Bond | Dimensional VA Global Bond Portfolio<br>*Adviser: DFA / Sub-Advisers:* <br> *Dimensional Fund Advisors Ltd. ("DFA* <br> *Ltd.") and DFA Australia Limited* <br> *("DFAA")*<br>| 0.21% | 4.35% | 1.38% | 1.81% |
| Asset Allocation | Dimensional VA Global Moderate <br> Allocation Portfolio<br>*Adviser: DFA*<br>| 0.28% | 14.68% | 8.42% | 8.65% |
| International/Global Equity | Dimensional VA International Small <br> Portfolio<br>*Adviser: DFA / Sub-Advisers: DFA Ltd.* <br> *and DFAA*<br>| 0.39% | 36.99% | 8.89% | 8.68% |
| International/Global Equity | Dimensional VA International Value <br> Portfolio<br>*Adviser: DFA / Sub-Advisers: DFA Ltd.* <br> *And DFAA*<br>| 0.27% | 45.64% | 15.85% | 10.46% |
| Large Cap Equity | Dimensional VA U.S. Large Value <br> Portfolio<br>*Adviser: DFA*<br>| 0.21% | 15.83% | 11.97% | 10.51% |
| Small/Mid Cap Equity | Dimensional VA U.S. Targeted Value <br> Portfolio<br>*Adviser: DFA*<br>| 0.29% | 8.95% | 13.60% | 11.00% |

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| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Type** | **Eligible Portfolio and** <br> **Advisers/Sub-Adviser** | **Current**<br> **Expenses** | **Average Annual Total Returns**<br> **(as of 12/31/2025)** | **Average Annual Total Returns**<br> **(as of 12/31/2025)** | **Average Annual Total Returns**<br> **(as of 12/31/2025)** |
| **Type** | **Eligible Portfolio and** <br> **Advisers/Sub-Adviser** | **Current**<br> **Expenses** | **1 year** | **5 year** | **10 year** |
| Investment Grade Bond | Dimensional VIT Inflation-Protected <br> Securities Portfolio<br>*Adviser: DFA / Sub-Advisers: DFA Ltd.* <br> *and DFAA*<br>| 0.11% | 7.55% | 1.05% | 3.12% |
| Alternatives | DWS Alternative Asset Allocation <br> VIP–Class A<br>*Adviser: DWS Investment Management* <br> *Americas Inc. ("DIMA") / Sub-Adviser:* <br> *RREEF Americas LLC*<br>| 0.93% | 10.50% | 5.29% | 4.89% |
| International/Global Equity | DWS Global Small Cap VIP–Class A\*\*<br>*Adviser: DIMA*<br>| 0.87% | 20.51% | 6.74% | 6.70% |
| Small/Mid Cap Equity | DWS Small Cap Index VIP–Class A<br>*Adviser: DIMA / Sub-Adviser: Northern* <br> *Trust Investments, Inc.*<br>| 0.37% | 12.64% | 5.84% | 9.33% |
| Small/Mid Cap Equity | DWS Small Mid Cap Value <br> VIP–Class A<br>*Adviser: DIMA*<br>| 0.80% | 18.21% | 9.66% | 7.57% |
| Asset Allocation | Fidelity<sup>®</sup> VIP Balanced Portfolio–Initial <br> Class<br>*Adviser: Fidelity Management &* <br> *Research Company LLC ("FMR") /* <br> *Sub-Advisers: Other investment* <br> *advisers*<br>| 0.41% | 15.25% | 9.52% | 11.13% |
| Investment Grade Bond | Fidelity<sup>®</sup> VIP Bond Index Portfolio–Initial <br> Class<br>*Adviser: FMR / Sub-Advisers: FMR* <br> *Investment Management (UK) Limited* <br> *and other investment advisers*<br>| 0.14% | 6.98% | (0.57%) | N/A |
| Large Cap Equity | Fidelity<sup>®</sup> VIP Contrafund<sup>SM</sup> <br> Portfolio–Initial Class<br>*Adviser: FMR / Sub-Advisers: FMR* <br> *Co., Inc., an affiliate of FMR ("FMRC")* <br> *and other investment advisers*<br>| 0.54% | 21.52% | 15.37% | 15.78% |
| International/Global Equity | Fidelity<sup>®</sup> VIP Emerging Markets <br> Portfolio–Initial Class<br>*Adviser: FMR / Sub-Advisers: FMRC* <br> *and other investment advisers*<br>| 0.87% | 41.20% | 5.88% | 10.93% |

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| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Type** | **Eligible Portfolio and** <br> **Advisers/Sub-Adviser** | **Current**<br> **Expenses** | **Average Annual Total Returns**<br> **(as of 12/31/2025)** | **Average Annual Total Returns**<br> **(as of 12/31/2025)** | **Average Annual Total Returns**<br> **(as of 12/31/2025)** |
| **Type** | **Eligible Portfolio and** <br> **Advisers/Sub-Adviser** | **Current**<br> **Expenses** | **1 year** | **5 year** | **10 year** |
| Large Cap Equity | Fidelity<sup>®</sup> VIP Equity Income <br> Portfolio<sup>SM</sup>–Initial Class<br>*Adviser: FMR / Sub-Advisers: FMRC* <br> *and other investment advisers*<br>| 0.46% | 19.02% | 12.51% | 11.60% |
| Small/Mid Cap Equity | Fidelity<sup>®</sup> VIP Extended Market Index <br> Portfolio–Initial Class<br>*Adviser: FMR / Sub-Advisers: Geode* <br> *Capital Management, LLC ("Geode")* <br> *and FMRC*<br>| 0.12% | 12.32% | 8.02% | N/A |
| Non-Investment Grade Bond | Fidelity<sup>®</sup> VIP Floating Rate High Income <br> Portfolio–Initial Class<br>*Adviser: FMR / Sub-Advisers: FMR* <br> *Investment Management (UK) Limited* <br> *and other investment advisers*<br>| 0.73% | 5.33% | 6.06% | 5.44% |
| Asset Allocation | Fidelity<sup>®</sup> VIP Freedom 2010 <br> Portfolio<sup>SM</sup>–Initial Class\*\*<br>*Adviser: FMR*<br>| 0.36% | 10.53% | 3.15% | 5.73% |
| Asset Allocation | Fidelity<sup>®</sup> VIP Freedom 2020 <br> Portfolio<sup>SM</sup>–Initial Class<br>*Adviser: FMR*<br>| 0.44% | 13.33% | 4.84% | 7.38% |
| Asset Allocation | Fidelity<sup>®</sup> VIP Freedom 2025 <br> Portfolio<sup>SM</sup>–Initial Class<br>*Adviser: FMR*<br>| 0.46% | 14.59% | 5.52% | 8.02% |
| Asset Allocation | Fidelity<sup>®</sup> VIP Freedom 2030 <br> Portfolio<sup>SM</sup>–Initial Class<br>*Adviser: FMR*<br>| 0.49% | 15.52% | 6.25% | 8.88% |
| Asset Allocation | Fidelity<sup>®</sup> VIP Freedom 2035 <br> Portfolio<sup>SM</sup>–Initial Class<br>*Adviser: FMR*<br>| 0.53% | 16.69% | 7.55% | 10.00% |
| Asset Allocation | Fidelity<sup>®</sup> VIP Freedom 2040 <br> Portfolio<sup>SM</sup>–Initial Class<br>*Adviser: FMR*<br>| 0.57% | 18.79% | 9.01% | 10.87% |
| Asset Allocation | Fidelity<sup>®</sup> VIP Freedom 2045 <br> Portfolio<sup>SM</sup>–Initial Class<br>*Adviser: FMR*<br>| 0.60% | 19.83% | 9.44% | 11.09% |

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| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Type** | **Eligible Portfolio and** <br> **Advisers/Sub-Adviser** | **Current**<br> **Expenses** | **Average Annual Total Returns**<br> **(as of 12/31/2025)** | **Average Annual Total Returns**<br> **(as of 12/31/2025)** | **Average Annual Total Returns**<br> **(as of 12/31/2025)** |
| **Type** | **Eligible Portfolio and** <br> **Advisers/Sub-Adviser** | **Current**<br> **Expenses** | **1 year** | **5 year** | **10 year** |
| Asset Allocation | Fidelity<sup>®</sup> VIP Freedom 2050 <br> Portfolio<sup>SM</sup>–Initial Class<br>*Adviser: FMR*<br>| 0.60% | 19.79% | 9.43% | 11.08% |
| Asset Allocation | Fidelity<sup>®</sup> VIP Freedom 2055 <br> Portfolio<sup>SM</sup>–Initial Class<br>*Adviser: FMR*<br>| 0.60% | 19.85% | 9.43% | N/A |
| Asset Allocation | Fidelity<sup>®</sup> VIP Freedom 2060 <br> Portfolio<sup>SM</sup>–Initial Class<br>*Adviser: FMR*<br>| 0.60% | 19.83% | 9.44% | N/A |
| Asset Allocation | Fidelity<sup>®</sup> VIP Freedom 2065 <br> Portfolio<sup>SM</sup>–Initial Class<br>*Adviser: FMR*<br>| 0.60% | 19.86% | 9.43% | N/A |
| Money Market | Fidelity<sup>®</sup> VIP Government Money <br> Market Portfolio–Initial Class<br>*Adviser: FMR / Sub-Advisers: Other* <br> *investment advisers*<br>| 0.25% | 4.13% | 3.10% | 2.03% |
| Large Cap Equity | Fidelity<sup>®</sup> VIP Growth Opportunities <br> Portfolio–Initial Class<br>*Adviser: FMR / Sub-Advisers: Other* <br> *investment advisers*<br>| 0.56% | 22.02% | 11.31% | 19.94% |
| Large Cap Equity | Fidelity<sup>®</sup> VIP Growth Portfolio–Initial <br> Class<br>*Adviser: FMR / Sub-Advisers: FMRC* <br> *and other investment advisers*<br>| 0.55% | 14.92% | 13.70% | 17.45% |
| Sector | Fidelity<sup>®</sup> VIP Health Care <br> Portfolio–Initial Class<br>*Adviser: FMR / Sub-Advisers: Other* <br> *investment advisers*<br>| 0.59% | 14.39% | 4.18% | 8.75% |
| Large Cap Equity | Fidelity<sup>®</sup> VIP Index 500 Portfolio–Initial <br> Class<br>*Adviser: FMR / Sub-Adviser: Geode*<br>| 0.09% | 17.78% | 14.31% | 14.70% |
| International/Global Equity | Fidelity<sup>®</sup> VIP International Capital <br> Appreciation Portfolio–Initial Class<br>*Adviser: FMR / Sub-Advisers: Other* <br> *investment advisers*<br>| 0.78% | 18.69% | 6.26% | 9.81% |

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| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Type** | **Eligible Portfolio and** <br> **Advisers/Sub-Adviser** | **Current**<br> **Expenses** | **Average Annual Total Returns**<br> **(as of 12/31/2025)** | **Average Annual Total Returns**<br> **(as of 12/31/2025)** | **Average Annual Total Returns**<br> **(as of 12/31/2025)** |
| **Type** | **Eligible Portfolio and** <br> **Advisers/Sub-Adviser** | **Current**<br> **Expenses** | **1 year** | **5 year** | **10 year** |
| International/Global Equity | Fidelity<sup>®</sup> VIP International Index <br> Portfolio–Initial Class<br>*Adviser: FMR / Sub-Adviser: Geode*<br>| 0.16% | 33.15% | 8.02% | N/A |
| Investment Grade Bond | Fidelity<sup>®</sup> VIP Investment Grade Bond <br> Portfolio–Initial Class<br>*Adviser: FMR / Sub-Advisers: FMR* <br> *Investment Management (UK) Limited* <br> *and other investment advisers*<br>| 0.37% | 7.22% | 0.06% | 2.71% |
| Small/Mid Cap Equity | Fidelity<sup>®</sup> VIP Mid Cap Portfolio–Initial <br> Class<br>*Adviser: FMR / Sub-Advisers: Other* <br> *investment advisers*<br>| 0.55% | 11.75% | 10.10% | 10.59% |
| International/Global Equity | Fidelity<sup>®</sup> VIP Overseas Portfolio–Initial <br> Class\*\*<br>*Adviser: FMR / Sub-Advisers: FMR* <br> *Investment Management (UK) Limited* <br> *and other investment advisers*<br>| 0.72% | 20.39% | 6.62% | 7.93% |
| Sector | Fidelity<sup>®</sup> VIP Real Estate <br> Portfolio–Initial Class\*\*<br>*Adviser: Fidelity SelectCo., LLC, an* <br> *affiliate of FMR / Sub-Advisers: Other* <br> *investment advisers*<br>| 0.60% | 3.10% | 4.23% | 3.87% |
| Non-Investment Grade Bond | Fidelity<sup>®</sup> VIP Strategic Income <br> Portfolio–Initial Class<br>*Adviser: FMR / Sub-Advisers: Other* <br> *investment advisers*<br>| 0.63% | 8.85% | 3.07% | 4.66% |
| Sector | Fidelity<sup>®</sup> VIP Technology Portfolio–Initial <br> Class<br>*Adviser: FMR / Sub-Advisers: Other* <br> *investment advisers*<br>| 0.56% | 23.86% | 16.83% | 23.76% |
| Large Cap Equity | Fidelity<sup>®</sup> VIP Total Market Index <br> Portfolio–Initial Class<br>*Adviser: FMR / Sub-Adviser: Geode*<br>| 0.11% | 17.11% | 13.14% | N/A |
| Large Cap Equity | Fidelity<sup>®</sup> VIP Value Portfolio–Initial <br> Class\*\*<br>*Adviser: FMR / Sub-Advisers: Other* <br> *investment advisers*<br>| 0.60% | 11.23% | 13.10% | 11.24% |

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| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Type** | **Eligible Portfolio and** <br> **Advisers/Sub-Adviser** | **Current**<br> **Expenses** | **Average Annual Total Returns**<br> **(as of 12/31/2025)** | **Average Annual Total Returns**<br> **(as of 12/31/2025)** | **Average Annual Total Returns**<br> **(as of 12/31/2025)** |
| **Type** | **Eligible Portfolio and** <br> **Advisers/Sub-Adviser** | **Current**<br> **Expenses** | **1 year** | **5 year** | **10 year** |
| Small/Mid Cap Equity | Fidelity<sup>®</sup> VIP Value Strategies <br> Portfolio–Service Class 2\*\*<br>*Adviser: FMR / Sub-Advisers: Other* <br> *investment advisers*<br>| 0.85% | 7.70% | 11.87% | 10.54% |
| Sector | Franklin Gold and Precious Metals VIP <br> Fund – Class 1<br>*Adviser: Franklin Advisers, Inc. ("FAV")*<br>| 0.70% | N/A | N/A | N/A |
| International/Global Equity | Goldman Sachs VIT International <br> Equity Insights Fund—Institutional <br> Class<br>*Adviser: Goldman Sachs Asset* <br> *Management, L.P.*<br>| 0.80% | 6.12% | 5.46% | 4.88% |
| Investment Grade Bond | Invesco V.I. Core Plus Bond <br> Fund–Series I Shares<br>*Adviser: Invesco Advisers, Inc.* <br> *("Invesco")*<br>| 0.62% | 7.09% | (0.11%) | 2.99% |
| Large Cap Equity | Invesco V.I. Discovery Large Cap <br> Fund–Series I Shares\*\*<br>*Adviser: Invesco*<br>| 0.80% | 12.79% | 11.69% | 14.22% |
| International/Global Equity | Invesco V.I. EQV International Equity <br> Fund–Series I Shares<br>*Adviser: Invesco*<br>| 0.90% | 16.50% | 3.68% | 6.22% |
| Sector | Invesco V.I. Global Real Estate <br> Fund–Series I Shares\*\*<br>*Adviser: Invesco / Sub-Adviser: Invesco* <br> *Asset Management Limited*<br>| 1.02% | 7.85% | 1.73% | 2.44% |
| Small/Mid Cap Equity | Invesco V.I. Main Street Mid Cap <br> Fund<sup>®</sup>–Series I Shares\*\*<br>*Adviser: Invesco*<br>| 0.94% | 9.19% | 9.11% | 9.35% |
| Small/Mid Cap Equity | Invesco V.I. Main Street Small Cap <br> Fund<sup>®</sup>–Series I Shares<br>*Adviser: Invesco*<br>| 0.84% | 8.70% | 8.34% | 10.59% |
| Small/Mid Cap Equity | Janus Henderson Enterprise <br> Portfolio–Institutional Shares<br>*Adviser: Janus*<br>| 0.72% | 7.67% | 7.62% | 12.79% |

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| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Type** | **Eligible Portfolio and** <br> **Advisers/Sub-Adviser** | **Current**<br> **Expenses** | **Average Annual Total Returns**<br> **(as of 12/31/2025)** | **Average Annual Total Returns**<br> **(as of 12/31/2025)** | **Average Annual Total Returns**<br> **(as of 12/31/2025)** |
| **Type** | **Eligible Portfolio and** <br> **Advisers/Sub-Adviser** | **Current**<br> **Expenses** | **1 year** | **5 year** | **10 year** |
| Investment Grade Bond | Janus Henderson Flexible Bond <br> Portfolio–Institutional Shares\*\*<br>*Adviser: Janus*<br>| 0.57% | 7.40% | (0.23%) | 2.32% |
| Large Cap Equity | Janus Henderson Forty <br> Portfolio–Institutional Shares\*\*<br>*Adviser: Janus*<br>| 0.62% | 18.14% | 11.65% | 16.24% |
| International/Global Equity | Janus Henderson Global Research <br> Portfolio–Institutional Shares<br>*Adviser: Janus*<br>| 0.82% | 20.92% | 12.51% | 12.93% |
| International/Global Equity | Lazard Retirement International Equity <br> Portfolio–Service Shares\*\*<br>*Adviser: Lazard Asset Management* <br> *LLC*<br>| 1.10% | 33.12% | 7.95% | 6.82% |
| Small/Mid Cap Equity | Lord Abbett Series Fund Developing <br> Growth Portfolio–Class VC\*\*<br>*Adviser: Lord, Abbett & Co. LLC ("Lord* <br> *Abbett")*<br>| 1.04% | 14.59% | (1.17%) | 11.03% |
| Small/Mid Cap Equity | Lord Abbett Series Fund Mid Cap Stock <br> Portfolio–Class VC\*\*<br>*Adviser: Lord Abbett*<br>| 1.15% | 7.05% | 10.16% | 7.98% |
| Investment Grade Bond | Lord Abbett Series Fund, Inc.–Short <br> Duration Income Portfolio–Class I<br>*Adviser: Lord Abbett*<br>| 0.47% | N/A | N/A | N/A |
| Investment Grade Bond | LVIP American Century Inflation <br> Protection Fund–Service Class<br>*Adviser: Lincoln Financial Investments* <br> *Corporation ("LFIC") / Sub-Adviser:* <br> *ACIM*<br>| 0.72% | 1.54% | 1.22% | 1.73% |
| Small/Mid Cap Equity | LVIP American Century Mid Cap Value <br> Fund–Service Class\*<br>*Adviser: LFIC / Sub-Adviser: ACIM*<br>| 1.01% | 8.52% | 7.13% | 7.87% |
| Large Cap Equity | LVIP American Century Value <br> Fund–Service Class<br>*Adviser: LFIC / Sub-Adviser: ACIM*<br>| 0.86% | 9.29% | 8.41% | 8.01% |

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| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Type** | **Eligible Portfolio and** <br> **Advisers/Sub-Adviser** | **Current**<br> **Expenses** | **Average Annual Total Returns**<br> **(as of 12/31/2025)** | **Average Annual Total Returns**<br> **(as of 12/31/2025)** | **Average Annual Total Returns**<br> **(as of 12/31/2025)** |
| **Type** | **Eligible Portfolio and** <br> **Advisers/Sub-Adviser** | **Current**<br> **Expenses** | **1 year** | **5 year** | **10 year** |
| Small/Mid Cap Equity | LVIP Baron Growth Opportunities <br> Fund–Service Class\*<br>*Adviser: LFIC / Sub-Adviser: BAMCO,* <br> *Inc.*<br>| 1.15% | 5.44% | 7.96% | 9.41% |
| Large Cap Equity | LVIP BlackRock Equity Dividend <br> Fund–Standard Class<br>*Adviser: LFIC / Sub-Adviser:* <br> *BlackRock Investment Management,* <br> *LLC*<br>| 0.66% | 7.18% | 5.69% | 7.18% |
| Large Cap Equity | LVIP ClearBridge Appreciation <br> Fund—Standard Class (formerly <br> ClearBridge Variable Appreciation <br> Portfolio—Class I)<br>*Adviser: LFIC / Sub-Adviser:* <br> *ClearBridge*<br>| 0.70% | 14.50% | 12.72% | 13.34% |
| Large Cap Equity | LVIP ClearBridge Large Cap Growth <br> Fund—Standard Class (formerly <br> ClearBridge Variable Large Cap Growth <br> Portfolio—Class I)<br>*Adviser: LFIC / Sub-Adviser:* <br> *ClearBridge*<br>| 0.74% | 8.62% | 10.57% | N/A |
| International/Global Equity | LVIP Franklin Templeton Multi-Factor <br> Emerging Markets Equity <br> Fund–Standard Class<br>*Adviser: LFIC / Sub-Adviser: FAV*<br>| 0.46% | 8.90% | 3.36% | 2.82% |
| International/Global Equity | LVIP Franklin Templeton Multi-Factor <br> International Equity Fund–Standard <br> Class<br>*Adviser: LFIC / Sub-Adviser: FAV*<br>| 0.40% | 3.76% | 4.48% | 4.69% |
| Investment Grade Bond | LVIP JPMorgan Short Duration Bond <br> Fund–Standard Class<br>*Adviser: LFIC / Sub-Adviser: J.P.* <br> *Morgan Investment Management Inc.* <br> *("JPMIM")*<br>| 0.47% | 4.30% | 1.70% | 1.89% |
| International/Global Equity | LVIP Mondrian International Value <br> Fund–Standard Class<br>*Adviser: LFIC / Sub-Adviser: Mondrian* <br> *Investment Partners Limited*<br>| 0.74% | 4.70% | 3.48% | 4.20% |

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| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Type** | **Eligible Portfolio and** <br> **Advisers/Sub-Adviser** | **Current**<br> **Expenses** | **Average Annual Total Returns**<br> **(as of 12/31/2025)** | **Average Annual Total Returns**<br> **(as of 12/31/2025)** | **Average Annual Total Returns**<br> **(as of 12/31/2025)** |
| **Type** | **Eligible Portfolio and** <br> **Advisers/Sub-Adviser** | **Current**<br> **Expenses** | **1 year** | **5 year** | **10 year** |
| Investment Grade Bond | LVIP SSgA Bond Index Fund–Standard <br> Class<br>*Adviser: LFIC / Sub-Adviser: SSgA* <br> *Funds Management, Inc. ("SSGA FM")*<br>| 0.37% | 1.05% | (0.60%) | 1.03% |
| International/Global Equity | LVIP SSgA Emerging Markets Equity <br> Index Fund–Standard Class<br>*Adviser: LFIC / Sub-Adviser: SSGA FM*<br>| 0.50% | 6.80% | 0.75% | N/A |
| International/Global Equity | LVIP SSgA International Index <br> Fund–Standard Class<br>*Adviser: LFIC / Sub-Adviser: SSGA FM*<br>| 0.38% | 3.22% | 4.49% | 4.98% |
| International/Global Equity | MFS<sup>®</sup> Global Growth Portfolio–Initial <br> Class<br>*Adviser: Massachusetts Financial* <br> *Services Company ("MFS")*<br>| 0.88% | 13.59% | 5.72% | 8.91% |
| Sector | MFS<sup>®</sup> Global Real Estate <br> Portfolio–Initial Class<br>*Adviser: MFS*<br>| 0.90% | 3.53% | 1.32% | 5.01% |
| Asset Allocation | MFS<sup>®</sup> Global Tactical Allocation <br> Portfolio–Initial Class<br>*Adviser: MFS*<br>| 0.78% | 15.48% | 4.86% | 5.67% |
| International/Global Equity | MFS<sup>®</sup> International Growth <br> Portfolio–Initial Class<br>*Adviser: MFS*<br>| 0.88% | 21.12% | 7.07% | 9.88% |
| International/Global Equity | MFS<sup>®</sup> International Intrinsic Equity <br> Portfolio (formerly MFS<sup>®</sup> International <br> Intrinsic Value Portfolio)–Initial Class<br>*Adviser: MFS*<br>| 0.89% | 33.26% | 7.28% | 9.95% |
| Small/Mid Cap Equity | MFS<sup>®</sup> Mid Cap Growth Series–Initial <br> Class<br>*Adviser: MFS*<br>| 0.81% | 3.66% | 3.26% | 11.60% |
| Small/Mid Cap Equity | MFS<sup>®</sup> Mid Cap Value Portfolio–Initial <br> Class<br>*Adviser: MFS*<br>| 0.79% | 5.98% | 10.18% | 9.95% |
| Small/Mid Cap Equity | MFS<sup>®</sup> New Discovery Series–Initial <br> Class\*<br>*Adviser: MFS*<br>| 0.87% | 12.96% | (0.28%) | 10.74% |

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| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Type** | **Eligible Portfolio and** <br> **Advisers/Sub-Adviser** | **Current**<br> **Expenses** | **Average Annual Total Returns**<br> **(as of 12/31/2025)** | **Average Annual Total Returns**<br> **(as of 12/31/2025)** | **Average Annual Total Returns**<br> **(as of 12/31/2025)** |
| **Type** | **Eligible Portfolio and** <br> **Advisers/Sub-Adviser** | **Current**<br> **Expenses** | **1 year** | **5 year** | **10 year** |
| Small/Mid Cap Equity | MFS<sup>®</sup> New Discovery Value <br> Portfolio–Initial Class<br>*Adviser: MFS*<br>| 0.88% | 3.08% | 8.48% | 10.58% |
| International/Global Equity | MFS<sup>®</sup> Research International <br> Portfolio–Initial Class<br>*Adviser: MFS*<br>| 0.90% | 22.05% | 5.51% | 7.54% |
| Large Cap Equity | MFS<sup>®</sup> Value Series–Initial Class<br>*Adviser: MFS*<br>| 0.69% | 13.01% | 9.95% | 10.05% |
| Non-Investment Grade Bond | Morgan Stanley VIF Emerging Markets <br> Debt Portfolio–Class I\*\*<br>*Adviser: Morgan Stanley Investment* <br> *Management Inc. ("MSIM")*<br>| 1.10% | 15.33% | 2.70% | 4.51% |
| Small/Mid Cap Equity | Neuberger Berman AMT Mid Cap <br> Intrinsic Value Portfolio–Class I\*\*<br>*Adviser: Neuberger Berman Investment* <br> *Advisers LLC ("Neuberger Berman")*<br>| 0.85% | 11.56% | 10.06% | 7.75% |
| Large Cap Equity | Neuberger Berman AMT Quality Equity <br> Portfolio (formerly Neuberger Berman <br> AMT Sustainable Equity <br> Portfolio)–Class I\*\*<br>*Adviser: Neuberger Berman*<br>| 0.87% | 13.74% | 12.83% | 12.94% |
| International/Global Equity | Nomura VIP Emerging Markets Series <br> (formerly Macquarie VIP Emerging <br> Markets Series)–Standard Class<br>*Adviser: Delaware Management* <br> *Company, a series of Nomura* <br> *Investment Management Business* <br> *Trust ("DMC")*<br>| 1.16% | 81.26% | 8.81% | 12.17% |
| International/Global Equity | Nomura VIP International Core Equity <br> Series (formerly Macquarie VIP <br> International Core Equity <br> Series)–Standard Class\*\*<br>*Adviser: DMC*<br>| 0.86% | 24.55% | N/A | N/A |
| Small/Mid Cap Equity | Nomura VIP Small Cap Value Series <br> (formerly Macquarie VIP Small Cap <br> Value Series)–Standard Class<br>*Adviser: DMC*<br>| 0.74% | 8.16% | 9.26% | 9.15% |

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| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Type** | **Eligible Portfolio and** <br> **Advisers/Sub-Adviser** | **Current**<br> **Expenses** | **Average Annual Total Returns**<br> **(as of 12/31/2025)** | **Average Annual Total Returns**<br> **(as of 12/31/2025)** | **Average Annual Total Returns**<br> **(as of 12/31/2025)** |
| **Type** | **Eligible Portfolio and** <br> **Advisers/Sub-Adviser** | **Current**<br> **Expenses** | **1 year** | **5 year** | **10 year** |
| Non-Investment Grade Bond <br>| PIMCO VIT Emerging Markets Bond <br> Portfolio–Institutional Class<br>*Adviser: Pacific Investment* <br> *Management Company LLC ("PIMCO")*<br>| 1.02% | 15.15% | 2.60% | 5.22% |
| Investment Grade Bond | PIMCO VIT Global Bond Opportunities <br> Portfolio (Unhedged)–Administrative <br> Class<br>*Adviser: PIMCO*<br>| 1.15% | 12.87% | 0.17% | 2.47% |
| Non-Investment Grade Bond | PIMCO VIT High Yield <br> Portfolio–Administrative Class<br>*Adviser: PIMCO*<br>| 0.81% | 8.95% | 3.97% | 5.57% |
| Investment Grade Bond | PIMCO VIT Income <br> Portfolio–Institutional Class<br>*Adviser: PIMCO*<br>| 0.77% | 10.36% | 3.57% | N/A |
| Investment Grade Bond | PIMCO VIT International Bond Portfolio <br> (U.S. Dollar-Hedged)–Institutional Class<br>*Adviser: PIMCO*<br>| 0.94% | 4.10% | 1.18% | 3.04% |
| Investment Grade Bond | PIMCO VIT Long-Term U.S. <br> Government Portfolio–Administrative <br> Class<br>*Adviser: PIMCO*<br>| 2.475% | 6.15% | (6.82%) | 0.01% |
| Investment Grade Bond | PIMCO VIT Low Duration <br> Portfolio–Administrative Class<br>*Adviser: PIMCO*<br>| 0.66% | 5.52% | 1.57% | 1.79% |
| Investment Grade Bond | PIMCO VIT Real Return <br> Portfolio–Administrative Class<br>*Adviser: PIMCO*<br>| 1.39% | 7.85% | 1.21% | 3.21% |
| Investment Grade Bond | PIMCO VIT Short-Term <br> Portfolio–Institutional Class<br>*Adviser: PIMCO*<br>| 0.50% | 4.83% | 3.40% | 2.91% |
| Investment Grade Bond | PIMCO VIT Total Return <br> Portfolio–Administrative Class<br>*Adviser: PIMCO*<br>| 0.73% | 8.89% | 0.02% | 2.36% |

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| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Type** | **Eligible Portfolio and** <br> **Advisers/Sub-Adviser** | **Current**<br> **Expenses** | **Average Annual Total Returns**<br> **(as of 12/31/2025)** | **Average Annual Total Returns**<br> **(as of 12/31/2025)** | **Average Annual Total Returns**<br> **(as of 12/31/2025)** |
| **Type** | **Eligible Portfolio and** <br> **Advisers/Sub-Adviser** | **Current**<br> **Expenses** | **1 year** | **5 year** | **10 year** |
| Sector | Principal VC Real Estate Securities <br> Account–Class 1<br>*Adviser: Principal Global Investors, LLC* <br> */ Sub-Advisers: Principal Real Estate* <br> *Investors, LLC*<br>| 0.78% | 1.24% | 4.88% | 5.94% |
| International/Global Equity | Putnam VT International Value <br> Fund–Class IA<br>*Adviser: Putnam Investment* <br> *Management, LLC / Sub-Advisers: FAV,* <br> *Franklin Templeton Investment* <br> *Management Limited, and The Putnam* <br> *Advisory Company, LLC*<br>| 0.81% | 35.07% | 12.77% | 9.13% |
| Large Cap Equity | T. Rowe Price All-Cap Opportunities <br> Portfolio\*\*<br>*Adviser: T. Rowe Price Associates, Inc.* <br> *("T. Rowe Price")*<br>| 0.80% | 16.30% | 12.22% | 16.93% |
| Large Cap Equity | T. Rowe Price Blue Chip Growth <br> Portfolio<br>*Adviser: T. Rowe Price*<br>| 0.75% | 18.74% | 11.68% | 15.54% |
| International/Global Equity | T. Rowe Price International Stock <br> Portfolio<br>*Adviser: T. Rowe Price*<br>| 0.95% | 18.41% | 3.92% | 7.10% |
| Investment Grade Bond | T. Rowe Price Limited-Term Bond <br> Portfolio\*\*<br>*Adviser: T. Rowe Price*<br>| 0.50% | 5.71% | 2.17% | 2.34% |
| Asset Allocation | T. Rowe Price Moderate Allocation <br> Portfolio\*\*<br>*Adviser: T. Rowe Price*<br>| 0.85% | 14.50% | 5.50% | 7.84% |
| Asset Allocation | Thrivent Aggressive Allocation Portfolio<br>*Adviser: Thrivent Financial for* <br> *Lutherans ("Thrivent")*<br>| 0.85% | 15.81% | 9.61% | 11.26% |
| Asset Allocation | Thrivent Conservative Allocation <br> Portfolio<br>*Adviser: Thrivent*<br>| 0.50% | 10.17% | 4.03% | 5.42% |
| International/Global Equity | Thrivent Global Stock Portfolio<br>*Adviser: Thrivent*<br>| 0.60% | 20.82% | 10.69% | 10.67% |

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| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Type** | **Eligible Portfolio and** <br> **Advisers/Sub-Adviser** | **Current**<br> **Expenses** | **Average Annual Total Returns**<br> **(as of 12/31/2025)** | **Average Annual Total Returns**<br> **(as of 12/31/2025)** | **Average Annual Total Returns**<br> **(as of 12/31/2025)** |
| **Type** | **Eligible Portfolio and** <br> **Advisers/Sub-Adviser** | **Current**<br> **Expenses** | **1 year** | **5 year** | **10 year** |
| Large Cap Equity | Thrivent Large Cap Growth Portfolio<br>*Adviser: Thrivent*<br>| 0.43% | 16.95% | 12.89% | 16.35% |
| Small/Mid Cap Equity | Thrivent Mid Cap Index Portfolio<br>*Adviser: Thrivent*<br>| 0.25% | 7.23% | 8.86% | 10.46% |
| Small/Mid Cap Equity | Thrivent Mid Cap Stock Portfolio<br>*Adviser: Thrivent*<br>| 0.66% | 4.43% | 6.86% | 11.30% |
| Small/Mid Cap Equity | Thrivent Small Cap Index Portfolio<br>*Adviser: Thrivent*<br>| 0.24% | 5.80% | 7.06% | 9.57% |
| Asset Allocation | TOPS<sup>®</sup> Aggressive ETF Portfolio <br> (formerly TOPS<sup>®</sup> Aggressive Growth <br> ETF Portfolio)–Class 2 Shares\*\*<br>*Adviser: ValMark Advisers, Inc.* <br> *("ValMark") / Sub-Adviser: Milliman* <br> *Financial Risk Management LLC* <br> *("Milliman")*<br>| 0.54% | 18.83% | 9.41% | 10.43% |
| Asset Allocation | TOPS<sup>®</sup> Balanced ETF Portfolio–Class 2 <br> Shares\*\*<br>*Adviser: ValMark / Sub-Adviser:* <br> *Milliman*<br>| 0.54% | 12.85% | 5.52% | 6.39% |
| Asset Allocation | TOPS<sup>®</sup> Conservative ETF <br> Portfolio–Class 2 Shares\*\*<br>*Adviser: ValMark / Sub-Adviser:* <br> *Milliman*<br>| 0.56% | 10.15% | 4.34% | 4.99% |
| Asset Allocation | TOPS<sup>®</sup> Managed Risk Moderate ETF <br> Portfolio (formerly TOPS<sup>®</sup> Managed <br> Risk Moderate Growth ETF <br> Portfolio)–Class 2 Shares\*\*<br>*Adviser: ValMark / Sub-Adviser:* <br> *Milliman*<br>| 0.75% | 10.36% | 4.74% | 5.72% |
| Asset Allocation | TOPS<sup>®</sup> Managed Risk Moderately <br> Aggressive ETF Portfolio (formerly <br> TOPS<sup>®</sup> Managed Risk Growth ETF <br> Portfolio)–Class 2 Shares\*\*<br>*Adviser: ValMark / Sub-Adviser:* <br> *Milliman*<br>| 0.75% | 11.65% | 5.36% | 6.13% |

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| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Type** | **Eligible Portfolio and** <br> **Advisers/Sub-Adviser** | **Current**<br> **Expenses** | **Average Annual Total Returns**<br> **(as of 12/31/2025)** | **Average Annual Total Returns**<br> **(as of 12/31/2025)** | **Average Annual Total Returns**<br> **(as of 12/31/2025)** |
| **Type** | **Eligible Portfolio and** <br> **Advisers/Sub-Adviser** | **Current**<br> **Expenses** | **1 year** | **5 year** | **10 year** |
| Asset Allocation | TOPS<sup>®</sup> Moderate ETF Portfolio <br> (formerly TOPS<sup>®</sup> Moderate Growth ETF <br> Portfolio)–Class 2 Shares\*\*<br>*Adviser: ValMark / Sub-Adviser:* <br> *Milliman*<br>| 0.53% | 15.13% | 6.92% | 7.99% |
| Asset Allocation | TOPS<sup>®</sup> Moderately Aggressive ETF <br> Portfolio (formerly TOPS<sup>®</sup> Growth ETF <br> Portfolio)–Class 2 Shares\*\*<br>*Adviser: ValMark / Sub-Adviser:* <br> *Milliman*<br>| 0.54% | 17.99% | 8.56% | 9.53% |
| Non-Investment Grade Bond | VanEck VIP Emerging Markets Bond <br> Fund–Initial Class Shares\*\*<br>*Adviser: Van Eck Associates* <br> *Corporation*<br>| 1.10% | 18.49% | 3.91% | 5.24% |
| Large Cap Equity | Voya Growth and Income <br> Portfolio–Class I<br>*Adviser: Voya Investments, LLC* <br> *("Voya") / Sub-Adviser: Voya* <br> *Investment Management Co. LLC* <br> *("VIM")*<br>| 0.67% | 18.21% | 15.46% | 14.62% |
| Non-Investment Grade Bond | Voya High Yield Portfolio–Class I<br>*Adviser: Voya / Sub-Adviser: VIM*<br>| 0.48% | 8.80% | 3.92% | 5.82% |
| Asset Allocation | Voya Index Solution 2030 <br> Portfolio–Class Z<br>*Adviser: Voya / Sub-Adviser: VIM*<br>| 0.17% | 15.44% | 6.80% | 8.59% |
| Asset Allocation | Voya Index Solution 2040 <br> Portfolio–Class Z<br>*Adviser: Voya / Sub-Adviser: VIM*<br>| 0.16% | 18.91% | 9.05% | 10.33% |
| Asset Allocation | Voya Index Solution 2050 <br> Portfolio–Class Z<br>*Adviser: Voya / Sub-Adviser: VIM*<br>| 0.17% | 20.70% | 10.14% | 10.97% |
| Investment Grade Bond | Voya Intermediate Bond <br> Portfolio—Class I<br>*Adviser: Voya / Sub-Adviser: VIM*<br>| 0.55% | 7.71% | 0.15% | 2.66% |
| Investment Grade Bond | Voya Limited Maturity Bond <br> Portfolio–Class I<br>*Adviser: Voya / Sub-Adviser: VIM*<br>| 0.28% | 5.69% | 2.13% | 2.27% |

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| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Type** | **Eligible Portfolio and** <br> **Advisers/Sub-Adviser** | **Current**<br> **Expenses** | **Average Annual Total Returns**<br> **(as of 12/31/2025)** | **Average Annual Total Returns**<br> **(as of 12/31/2025)** | **Average Annual Total Returns**<br> **(as of 12/31/2025)** |
| **Type** | **Eligible Portfolio and** <br> **Advisers/Sub-Adviser** | **Current**<br> **Expenses** | **1 year** | **5 year** | **10 year** |
| Small/Mid Cap Equity | Voya MidCap Opportunities <br> Portfolio–Class I<br>*Adviser: Voya / Sub-Adviser: VIM*<br>| 0.82% | 3.90% | 4.55% | 10.97% |
| Small/Mid Cap Equity | Voya Russell<sup>TM</sup> Mid Cap Index <br> Portfolio–Class I<br>*Adviser: Voya / Sub-Adviser: VIM*<br>| 0.40% | 10.08% | 8.26% | 10.59% |
| Small/Mid Cap Equity | Voya Small Company Portfolio–Class I<br>*Adviser: Voya / Sub-Adviser: VIM*<br>| 0.87% | 8.59% | 6.26% | 8.39% |
| Small/Mid Cap Equity | VY<sup>®</sup> JPMorgan Mid Cap Value <br> Portfolio–Class I<br>*Adviser: Voya / Sub-Adviser: JPMIM*<br>| 0.85% | 4.63% | 9.53% | 8.75% |
| Small/Mid Cap Equity | VY<sup>®</sup> JPMorgan Small Cap Core Equity <br> Portfolio–Class I<br>*Adviser: Voya / Sub-Adviser: JPMIM*<br>| 0.89% | 3.86% | 4.89% | 9.04% |
| International/Global Equity | VY<sup>®</sup> Morgan Stanley Global Franchise <br> Portfolio–Class R6<br>*Adviser: Voya / Sub-Adviser: MSIM*<br>| 0.89% | 0.33% | 5.06% | N/A |
| Asset Allocation | VY<sup>®</sup> T. Rowe Price Capital Appreciation <br> Portfolio–Class I<br>*Adviser: Voya / Sub-Adviser: T. Rowe* <br> *Price Investment Management*<br>| 0.65% | 12.32% | 9.49% | 11.32% |
| Investment Grade Bond | Western Asset Core Plus VIT <br> Portfolio–Class I\*<br>*Adviser: FTFA / Sub-Advisers: Western* <br> *Asset Management Company Limited,* <br> *Western Asset Management Company,* <br> *LLC, Western Asset Management* <br> *Company Ltd., and Western Asset* <br> *Management Company Pte. Ltd.*<br>| 0.54% | 7.75% | (1.44%) | 2.11% |
| Investment Grade Bond | Western Asset Long Credit VIT <br> Portfolio–Class I\*\*<br>*Adviser: FTFA / Sub-Advisers: Western* <br> *Asset Management Company Limited,* <br> *Western Asset Management Company,* <br> *LLC, Western Asset Management* <br> *Company Ltd., and Western Asset* <br> *Management Company Pte. Ltd.*<br>| 0.41% | 8.59% | N/A | N/A |

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\*

Premiums or transfers will only be accepted into this Investment Division from policyowners already invested in this Investment Division. Policyowners who remove all Cash Value allocations from this Investment Division will not be permitted

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to reinvest in this Investment Division.

\*\*

No premiums or transfers will be accepted into this Investment Division. Policyowners who remove any Cash Value allocations from this Investment Division will not be permitted to reinvest in this Investment Division.

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**Obtaining Additional Information**

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The Statement of Additional Information ("SAI") contains additional information about CorpExec VUL, including information about compensation arrangements. The SAI is available without charge upon Request. You may Request the SAI, or request other information about the Policy or make investor inquiries, by mail by contacting NYLIAC at our Service Office, or by calling (888) 695-4748. The SAI is also posted at https://dfinview.com/NewYorkLife/TAHD/corpexec-ii-v. The current SAI is incorporated by reference into the prospectus and has been filed with the SEC.

Reports and other information about CorpExec VUL are available on the SEC's internet site at http://www.sec.gov. Copies of this information may be obtained, upon payment of a duplicating fee, by electronic request at the following email address: publicinfo@sec.gov.

For a free personalized illustration, or additional information about your Policy, contact your Registered Representative or call us at (888) 695-4748.

EDGAR ID: COOOO25718

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**Statement of Additional Information** 

**dated** 

**May 1, 2026** 

**for** 

**NYLIAC CORPORATE SPONSORED VARIABLE UNIVERSAL LIFE SEPARATE ACCOUNT-I** 

**Corporate Executive Series Variable Universal Life Policies** 

**from** 

**NEW YORK LIFE INSURANCE AND ANNUITY CORPORATION** 

This Statement of Additional Information ("SAI") is not a prospectus. The SAI contains information that expands upon subjects discussed in the current Corporate Executive Series Variable Universal Life (CorpExec VUL) prospectus. You should read the SAI in conjunction with the current CorpExec VUL prospectus dated May 1, 2026 and any supplements thereto. This SAI is incorporated by reference into the prospectus. You may obtain a paper copy of the prospectus by contacting New York Life Insurance and Annuity Corporation ("NYLIAC") by mail at 6130 Sprint Parkway, Suite 400, Overland Park, KS 66211 or by phone at 1-888-695-4748. The CorpExec VUL prospectus is also posted at https://dfinview.com/NewYorkLife/TAHD/corpexec-ii-v. Terms used but not defined in the SAI have the same meaning as in the current CorpExec VUL prospectus.

**[**Table of Contents**](#xx_9cb67ba2-91e4-4aab-8c81-d538ea014e3f_toc_0)** 

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| | |
|:---|:---|
| **[General Information And History](#xx_2d9d8692-3205-4028-8330-2663980455fc_1)** | &nbsp;&nbsp; 2 |
| **[Non-Principal Risks of Investing in the Contract](#xx_2d9d8692-3205-4028-8330-2663980455fc_1)** | &nbsp;&nbsp; 2 |
| **[Distribution And Compensation Arrangements](#xx_2d9d8692-3205-4028-8330-2663980455fc_1)** | &nbsp;&nbsp; 2 |
| **[Financial Statements](#xx_2d9d8692-3205-4028-8330-2663980455fc_2)** | &nbsp;&nbsp; 3 |
| **CorpExec VUL II-V is offered under NYLIAC Corporate Sponsored Variable Universal Life Separate Account-I.** |  |

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**General Information And History**

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The prospectus and SAI describe a flexible premium variable universal life insurance Policy that NYLIAC issues: CorpExec Series VUL.

***About NYLIAC***

NYLIAC is a stock life insurance company incorporated in Delaware in 1980. NYLIAC is licensed to sell life, accident, and health insurance and annuities in the District of Columbia and all states. In addition to the Policy described in the prospectus, NYLIAC offers other life insurance policies and annuities. NYLIAC and Separate Account financial statements are also incorporated in this SAI. NYLIAC's principal business address is 51 Madison Avenue, New York, New York 10010.

NYLIAC is a wholly-owned subsidiary of NYLIC, a mutual life insurance company founded in New York in 1845. NYLIAC had total assets amounting to $223.5 billion at the end of 2025. NYLIC has invested in NYLIAC, and will occasionally make additional contributions to NYLIAC in order to maintain capital and surplus in accordance with state requirements.

***About NYLIAC Corporate Sponsored Variable Universal Life Separate Account-I***

NYLIAC Corporate Sponsored Variable Universal Life Separate Account-I (the "Separate Account") is a segregated asset account that NYLIAC established to receive and invest your Net Premiums. NYLIAC established the Separate Account on May 24, 1996, under the laws of the State of Delaware, in accordance with resolutions set forth by the NYLIAC Board of Directors. The Separate Account is registered as a unit investment trust with the SEC under the Investment Company Act of 1940, as amended. This registration does not mean that the SEC supervises the management, investment practices, or policies of the Separate Account.

**Non-Principal Risks of Investing in the Contract**

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***Geopolitical Risks***

Local, regional or global events such as war, acts of terrorism, the spread of infectious illness or other public health issues like pandemics or epidemics, natural disasters, recessions and other events, could have a serious negative impact on, among other things, the performance, liquidity and valuation of investments in the Eligible Portfolios you choose. In light of these developments, your premium and Cash Value allocation choices should be consistent with your personal investment objective and your risk tolerance. In addition, governmental authorities have recently imposed prohibitions on transactions in investment in certain foreign sectors—for example, prohibitions imposed by the U.S. government on investment in companies in the Communist Chinese defense and related material sectors and surveillance technology sectors. If Eligible Portfolios do not comply with such prohibitions, it is possible that we could not allow contract owners to make any new investment in those Portfolios (by premium allocation or transfer), and we could even require that policyowners move any Cash Value out of the affected Eligible Portfolio(s). You should consult each Fund's prospectus, statement of additional information, and annual and semi-annual reports for more information on these geopolitical risks and potential investment restrictions.

**Distribution And Compensation Arrangements**

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NYLIFE Distributors, the underwriter and distributor of the Policies, is registered with the SEC and FINRA as a broker-dealer. The firm is an indirect wholly-owned subsidiary of NYLIC, and an affiliate of NYLIAC. Its principal business address is 30 Hudson Street, Jersey City, New Jersey 07302.

The Policies are sold by registered representatives of NYLIFE Securities, a broker-dealer that is an affiliate of NYLIFE Distributors, and by registered representatives of unaffiliated broker-dealers. Your registered representative is also a licensed insurance agent with NYLIC. He or she may be qualified to offer other forms of life insurance, annuities, and other investment products. In certain circumstances, NYLIFE Securities registered representatives can sell both products manufactured and issued by NYLIC or its affiliates and products provided by other companies.

The selling broker-dealer, and in turn your registered representative, will receive compensation for selling you this Policy or any other insurance or investment product. Compensation may consist of commissions, asset-based compensation, allowances for expenses, and other compensation programs. The amount of compensation received by your registered representative will vary depending on the Policy that he or she sells, on sales production goals, and on the specific

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payment arrangements of the relevant broker-dealer. Differing compensation arrangements have the potential to influence the recommendation made by your registered representative or broker-dealer.

Broker-dealers receive commission not to exceed 30% of Premiums paid up to the Target Premium in Policy Year 1, 12.5% for Policy Years 2-7, and 1.5% for Policy Years 8-10. In addition, we pay broker-dealers a maximum of 4% commission on Premiums paid in excess of the Target Premium for Policy Years 1-4 and 1.5% for Policy Years 5-10.

The total commissions paid during the fiscal years ended December 31, 2025, 2024, and 2023 were $0.00, $0.00, and $0.00, respectively. NYLIFE Distributors did not retain any of these commissions.

Service entities, which may be affiliates of broker-dealers, may also receive additional compensation based on a percentage of a Policy's Cash Value, less any Policy loans. The percentages are not expected to exceed 0.10% in all Policy Years.

NYLIC also has other compensation programs where registered representatives, managers, and employees involved in the sales process receive additional compensation related to the sale of products manufactured and issued by NYLIC or its affiliates. NYLIFE Securities registered representatives who are members of the General Office management team receive compensation based on a number of sales-related incentive programs designed to compensate for education, supervision, training, and recruiting of agents.

Unaffiliated broker-dealers may receive sales support for products manufactured and issued by NYLIC or its affiliates from Broker General Agents who are not employed by NYLIC. Broker General Agents receive commissions on the Policies based on a percentage of the commissions the registered representative receives and an allowance for expenses based on the first-year Premiums paid.

Ascensus Broker Dealer Services, LLC, 300 Primera Boulevard, Suite 200, Lake Mary, Florida 32746 is a broker-dealer that sells the life insurance products of New York Life and its affiliates. In 2025, in addition to the commissions described above, the Newport Group, Inc., an Ascensus Company received override payments of $33,825 based on persistency and Premiums paid under the Policies it services.

Morgan Stanley Smith Barney, LLC, 2000 Westchester Avenue, Purchase, NY 10577 is a broker-dealer that sells the life insurance products of New York Life and its affiliates. In 2025, in addition to the commissions described above, Morgan Stanley Smith Barney, LLC received override payments of $16,067 based on commissions and/or service fees paid and a percentage of cash value under the Policies it services.

NYLIFE Securities registered representatives can qualify to attend NYLIC-sponsored educational, training, and development conferences based on the sales they make of life insurance, annuities, and investment products during a particular twelve-month period. In addition, qualification for recognition programs sponsored by NYLIC depends on the sale of products manufactured and issued by NYLIC or its affiliates.

Although the Policies are no longer sold, Premium payments are accepted on a continuous basis.

**Financial Statements**

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The statutory financial statements of NYLIAC as of December 31, 2025 and 2024, and for each of the three years in the period ended December 31, 2025 incorporated in this SAI by reference to the report on Form N-VPFS dated April 7, 2026 have been incorporated in reliance on the report of PricewaterhouseCoopers LLP, an independent registered public accounting firm, given on the authority of said firm as experts in auditing and accounting. The financial statements of each of the investment divisions of the Separate Account as of December 31, 2025 and for each of the periods indicated in the Financial Statements incorporated in this SAI by reference to the report on Form N-VPFS dated April 7, 2026 have been so incorporated in reliance on the report of PricewaterhouseCoopers LLP, an independent registered public accounting firm, given on the authority of said firm as experts in auditing and accounting.

[<u>Audited Financial Statements of NYLIAC as of December 31,</u> <u>2025 and 2024</u><u>, and for each of the three years in the</u>](https://www.sec.gov/Archives/edgar/data/1018042/000119312526145210/d131645dnvpfs.htm)[<u>period ended December 31,</u> <u>2025</u> <u>– previously filed on Form N-VPFS for NYLIAC Corporate Sponsored Variable Universal</u>](https://www.sec.gov/Archives/edgar/data/1018042/000119312526145210/d131645dnvpfs.htm)[<u>Life Separate Account – I (File No.</u> <u>811-0769</u><u>7), filed on April</u> <u>7</u><u>,</u> <u>2026</u> <u>– are incorporated herein by reference.</u>](https://www.sec.gov/Archives/edgar/data/1018042/000119312526145210/d131645dnvpfs.htm)

[<u>Financial Statements of the Separate Account as of December 31,</u> <u>2025</u> <u>and for each of the periods as indicated in</u>](https://www.sec.gov/Archives/edgar/data/1018042/000119312526145210/d131645dnvpfs.htm)[<u>those Financial Statements — previously filed on Form N-VPFS for NYLIAC Corporate Sponsored Variable Universal Life</u>](https://www.sec.gov/Archives/edgar/data/1018042/000119312526145210/d131645dnvpfs.htm)[<u>Separate Account-I (File No.</u> <u>811-0769</u><u>7), filed on April</u> <u>7</u><u>,</u> <u>2026</u> <u>— are incorporated herein by reference.</u>](https://www.sec.gov/Archives/edgar/data/1018042/000119312526145210/d131645dnvpfs.htm)

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**New York Life Insurance and Annuity Corporation** 

**Corp Exec VUL VI** 

**Corporate Executive Series Variable Universal Life** 

**Prospectus—May 1, 2026**

**A flexible premium corporate sponsored variable universal life insurance policy offered to individuals under New York Life Insurance and Annuity Corporation ("NYLIAC") Corporate Sponsored Variable Universal Life Separate Account-I** 

Please use the following address to send policy premium payments and service Requests to us:

**Service Office:** 

**New York Life Insurance and Annuity Corporation** <br>**NYLIFE Distributors, LLC** <br>**Attention: New York Life Institutional Life** <br>**6130 Sprint Parkway, Suite 400** <br>**Overland Park, KS 66211** <br>**Telephone: (888) 695-4748** <br>**Fax: (913) 906-4129** <br>**E-mail: NYLAMN_Service@newyorklife.com**

This prospectus describes NYLIAC Corp Exec VUL VI (the "Policy"), which is part of the NYLIAC Corporate Executive Series Variable Universal Life Insurance Policies. New Policies are no longer offered for sale. The other policies in the NYLIAC Corporate Executive Series are described in a separate prospectus. In this prospectus, the words "we," "our," or "us" refer to NYLIAC and the words "you" or "your" refer to the policyowner. The prospectus contains all material variations to the statements about the Policies, including all material state variations to the Policies.

The Securities and Exchange Commission (SEC) has not approved or disapproved of these securities or passed upon the accuracy or adequacy of this Prospectus. Any representation to the contrary is a criminal offense. Policies have risks including risk of loss of the amount invested. Policies are not deposits of, or guaranteed or endorsed by, any bank and are not federally insured by the FDIC, Federal Reserve Board, or any other agency.

The Policy is not considered an offering in any jurisdiction where such an offering may not be lawfully made. We do not authorize any information or representations regarding the offering described in this Prospectus and the Statement of Additional Information ("SAI") other than as contained in these materials or any attached supplements to them or in any supplemental sales material we authorize.

The Policy is a very complex investment and life insurance product. This Prospectus is designed to provide policyowners with information about the Policy. NYLIAC encourages policyowners to carefully evaluate and understand the Policy and its potential benefits and risks. Additional information about certain investment products, including variable life insurance, has been prepared by the SEC and is available at www.investor.gov.

The purpose of this Policy is to provide a Life Insurance Benefit to the beneficiary named by the policyowner. *NYLIAC makes no claim that this Policy is in any way similar or comparable to a systematic investment plan of a mutual fund.* 

The Policy may decrease in value, even to the point of having no value, because of both the charges imposed and poor investment performance. The entire amount invested in the Policy could be lost.

------

**Table of Contents** 

---

| | |
|:---|:---|
|  | **Page** |
| **[Definitions](#xx_ec1cbb19-9a7a-4d9a-a1bd-d12d3b302f0d_1)** | &nbsp;&nbsp; 1 |
| **[Important Information You Should Consider](#xx_52c9470c-f114-4fb7-bb29-a7625a4b0fa3_1)**<br> **[About the Policy](#xx_52c9470c-f114-4fb7-bb29-a7625a4b0fa3_1)**<br>| &nbsp;&nbsp; 5 |
| &nbsp;&nbsp;&nbsp;&nbsp; [Fees and Expenses](#xx_52c9470c-f114-4fb7-bb29-a7625a4b0fa3_1) | &nbsp;&nbsp; 5 |
| &nbsp;&nbsp;&nbsp;&nbsp; [Risks](#xx_52c9470c-f114-4fb7-bb29-a7625a4b0fa3_1) | &nbsp;&nbsp; 5 |
| &nbsp;&nbsp;&nbsp;&nbsp; [Restrictions](#xx_52c9470c-f114-4fb7-bb29-a7625a4b0fa3_3) | &nbsp;&nbsp; 7 |
| &nbsp;&nbsp;&nbsp;&nbsp; [Taxes](#xx_52c9470c-f114-4fb7-bb29-a7625a4b0fa3_3) | &nbsp;&nbsp; 7 |
| &nbsp;&nbsp;&nbsp;&nbsp; [Conflicts of Interest](#xx_52c9470c-f114-4fb7-bb29-a7625a4b0fa3_4) | &nbsp;&nbsp; 8 |
| **[Overview of the Policy](#xx_babeb3e0-eea9-41fa-b314-efac49427041_1)** | &nbsp;&nbsp; 9 |
| **[Table of Fees and Expenses](#xx_f91690a1-29cc-4537-ae48-c0eea552b6c3_1)** | &nbsp;&nbsp; 12 |
| &nbsp;&nbsp;&nbsp;&nbsp; [Transaction Fees](#xx_f91690a1-29cc-4537-ae48-c0eea552b6c3_1) | &nbsp;&nbsp; 12 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [Periodic Charges Other Than Funds' Operating](#xx_f91690a1-29cc-4537-ae48-c0eea552b6c3_2)<br> [Expenses](#xx_f91690a1-29cc-4537-ae48-c0eea552b6c3_2)<br>| &nbsp;&nbsp; 13 |
| &nbsp;&nbsp;&nbsp;&nbsp; [Annual Eligible Portfolio Expenses](#xx_f91690a1-29cc-4537-ae48-c0eea552b6c3_3) | &nbsp;&nbsp; 14 |
| **[Summary of Principal Risks of Investment In](#xx_12cb1d9b-b281-4744-9435-411b39e26a08_1)**<br> **[the Policy](#xx_12cb1d9b-b281-4744-9435-411b39e26a08_1)**<br>| &nbsp;&nbsp; 15 |
| &nbsp;&nbsp;&nbsp;&nbsp; [Investment Risk](#xx_12cb1d9b-b281-4744-9435-411b39e26a08_1) | &nbsp;&nbsp; 15 |
| &nbsp;&nbsp;&nbsp;&nbsp; [Not a Short-Term Investment](#xx_12cb1d9b-b281-4744-9435-411b39e26a08_1) | &nbsp;&nbsp; 15 |
| &nbsp;&nbsp;&nbsp;&nbsp; [Portfolio Risks](#xx_12cb1d9b-b281-4744-9435-411b39e26a08_1) | &nbsp;&nbsp; 15 |
| &nbsp;&nbsp;&nbsp;&nbsp; [Risk of Termination](#xx_12cb1d9b-b281-4744-9435-411b39e26a08_1) | &nbsp;&nbsp; 15 |
| &nbsp;&nbsp;&nbsp;&nbsp; [Risk of Termination from Policy Loans](#xx_12cb1d9b-b281-4744-9435-411b39e26a08_2) | &nbsp;&nbsp; 16 |
| &nbsp;&nbsp;&nbsp;&nbsp; [Supplementary Term Rider Risks](#xx_12cb1d9b-b281-4744-9435-411b39e26a08_2) | &nbsp;&nbsp; 16 |
| &nbsp;&nbsp;&nbsp;&nbsp; [Tax Risks](#xx_12cb1d9b-b281-4744-9435-411b39e26a08_3) | &nbsp;&nbsp; 17 |
| &nbsp;&nbsp;&nbsp;&nbsp; [Potential for Increased Charges](#xx_12cb1d9b-b281-4744-9435-411b39e26a08_3) | &nbsp;&nbsp; 17 |
| &nbsp;&nbsp;&nbsp;&nbsp; [Potentially Harmful Transfer Activity](#xx_12cb1d9b-b281-4744-9435-411b39e26a08_3) | &nbsp;&nbsp; 17 |
| &nbsp;&nbsp;&nbsp;&nbsp; [Credit Risk](#xx_12cb1d9b-b281-4744-9435-411b39e26a08_3) | &nbsp;&nbsp; 17 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [Risks Affecting our Administration of Your](#xx_12cb1d9b-b281-4744-9435-411b39e26a08_4)<br> [Policy](#xx_12cb1d9b-b281-4744-9435-411b39e26a08_4)<br>| &nbsp;&nbsp; 18 |
| **[Management and Organization](#xx_481059c2-1c78-413c-910a-ff61d20c1930_1)** | &nbsp;&nbsp; 19 |
| &nbsp;&nbsp;&nbsp;&nbsp; [Your Policy](#xx_481059c2-1c78-413c-910a-ff61d20c1930_1) | &nbsp;&nbsp; 19 |
| &nbsp;&nbsp;&nbsp;&nbsp; [About the Separate Account](#xx_481059c2-1c78-413c-910a-ff61d20c1930_1) | &nbsp;&nbsp; 19 |
| &nbsp;&nbsp;&nbsp;&nbsp; [Our Rights](#xx_481059c2-1c78-413c-910a-ff61d20c1930_2) | &nbsp;&nbsp; 20 |
| &nbsp;&nbsp;&nbsp;&nbsp; [The Fixed Account](#xx_481059c2-1c78-413c-910a-ff61d20c1930_2) | &nbsp;&nbsp; 20 |
| &nbsp;&nbsp;&nbsp;&nbsp; [Interest Crediting](#xx_481059c2-1c78-413c-910a-ff61d20c1930_3) | &nbsp;&nbsp; 21 |
| &nbsp;&nbsp;&nbsp;&nbsp; [How to Reach Us for Policy Services](#xx_481059c2-1c78-413c-910a-ff61d20c1930_3) | &nbsp;&nbsp; 21 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [Information Systems Failures and](#xx_481059c2-1c78-413c-910a-ff61d20c1930_3)<br> [Cybersecurity Risks](#xx_481059c2-1c78-413c-910a-ff61d20c1930_3)<br>| &nbsp;&nbsp; 21 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [Risks From Serious Infectious Disease](#xx_481059c2-1c78-413c-910a-ff61d20c1930_3)<br> [Outbreaks](#xx_481059c2-1c78-413c-910a-ff61d20c1930_3)<br>| &nbsp;&nbsp; 21 |
| &nbsp;&nbsp;&nbsp;&nbsp; [Funds and Eligible Portfolios](#xx_481059c2-1c78-413c-910a-ff61d20c1930_4) | &nbsp;&nbsp; 22 |
| &nbsp;&nbsp;&nbsp;&nbsp; [Money Market Fund Fees and Gates](#xx_481059c2-1c78-413c-910a-ff61d20c1930_6) | &nbsp;&nbsp; 24 |
| &nbsp;&nbsp;&nbsp;&nbsp; [Reinvestment](#xx_481059c2-1c78-413c-910a-ff61d20c1930_6) | &nbsp;&nbsp; 24 |
| &nbsp;&nbsp;&nbsp;&nbsp; [Investment Return](#xx_481059c2-1c78-413c-910a-ff61d20c1930_6) | &nbsp;&nbsp; 24 |
| &nbsp;&nbsp;&nbsp;&nbsp; [Performance Calculations](#xx_481059c2-1c78-413c-910a-ff61d20c1930_7) | &nbsp;&nbsp; 25 |
| &nbsp;&nbsp;&nbsp;&nbsp; [Voting](#xx_481059c2-1c78-413c-910a-ff61d20c1930_7) | &nbsp;&nbsp; 25 |

---

---

| | |
|:---|:---|
|  | **Page** |
| **[Charges Associated with the Policy](#xx_67b5fbf4-3059-42d6-9efe-f861fffb399f_1)** | &nbsp;&nbsp; 27 |
| &nbsp;&nbsp;&nbsp;&nbsp; [Deductions From Premium Payments](#xx_67b5fbf4-3059-42d6-9efe-f861fffb399f_1) | &nbsp;&nbsp; 27 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [Sales Expense Charge](#xx_67b5fbf4-3059-42d6-9efe-f861fffb399f_1) | &nbsp;&nbsp; 27 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [State Premium Tax Charge](#xx_67b5fbf4-3059-42d6-9efe-f861fffb399f_1) | &nbsp;&nbsp; 27 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [Federal Premium Tax Charge](#xx_67b5fbf4-3059-42d6-9efe-f861fffb399f_2) | &nbsp;&nbsp; 28 |
| &nbsp;&nbsp;&nbsp;&nbsp; [Deductions From Cash Value](#xx_67b5fbf4-3059-42d6-9efe-f861fffb399f_2) | &nbsp;&nbsp; 28 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [Monthly Contract Charge](#xx_67b5fbf4-3059-42d6-9efe-f861fffb399f_2) | &nbsp;&nbsp; 28 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [Cost of Insurance Charge](#xx_67b5fbf4-3059-42d6-9efe-f861fffb399f_2) | &nbsp;&nbsp; 28 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [Mortality and Expense Risk Charge](#xx_67b5fbf4-3059-42d6-9efe-f861fffb399f_3) | &nbsp;&nbsp; 29 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [Rider Charges](#xx_67b5fbf4-3059-42d6-9efe-f861fffb399f_3) | &nbsp;&nbsp; 29 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [Allocating Expense Charge Deductions](#xx_67b5fbf4-3059-42d6-9efe-f861fffb399f_3) | &nbsp;&nbsp; 29 |
| &nbsp;&nbsp;&nbsp;&nbsp; [Separate Account Charges](#xx_67b5fbf4-3059-42d6-9efe-f861fffb399f_4) | &nbsp;&nbsp; 30 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [Charges for Federal Income Taxes](#xx_67b5fbf4-3059-42d6-9efe-f861fffb399f_4) | &nbsp;&nbsp; 30 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [Fund Charges](#xx_67b5fbf4-3059-42d6-9efe-f861fffb399f_4) | &nbsp;&nbsp; 30 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [Partial Surrender Processing Fee](#xx_67b5fbf4-3059-42d6-9efe-f861fffb399f_4) | &nbsp;&nbsp; 30 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [Fund Transfer Charge](#xx_67b5fbf4-3059-42d6-9efe-f861fffb399f_4) | &nbsp;&nbsp; 30 |
| &nbsp;&nbsp;&nbsp;&nbsp; [Loan Charges](#xx_67b5fbf4-3059-42d6-9efe-f861fffb399f_4) | &nbsp;&nbsp; 30 |
| &nbsp;&nbsp;&nbsp;&nbsp; [Commissions Paid to Dealers](#xx_67b5fbf4-3059-42d6-9efe-f861fffb399f_4) | &nbsp;&nbsp; 30 |
| &nbsp;&nbsp;&nbsp;&nbsp; [How the Policy Works – Example](#xx_67b5fbf4-3059-42d6-9efe-f861fffb399f_5) | &nbsp;&nbsp; 31 |
| **[Description of the Policy](#xx_e03a490f-889e-496a-97f1-f8a86f517f38_1)** | &nbsp;&nbsp; 32 |
| &nbsp;&nbsp;&nbsp;&nbsp; [The Parties](#xx_e03a490f-889e-496a-97f1-f8a86f517f38_1) | &nbsp;&nbsp; 32 |
| &nbsp;&nbsp;&nbsp;&nbsp; [The Policy](#xx_e03a490f-889e-496a-97f1-f8a86f517f38_1) | &nbsp;&nbsp; 32 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [How the Policy Is Available](#xx_e03a490f-889e-496a-97f1-f8a86f517f38_2) | &nbsp;&nbsp; 33 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [Policy Premiums](#xx_e03a490f-889e-496a-97f1-f8a86f517f38_2) | &nbsp;&nbsp; 33 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [Cash Value](#xx_e03a490f-889e-496a-97f1-f8a86f517f38_2) | &nbsp;&nbsp; 33 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [Cash Surrender Value](#xx_e03a490f-889e-496a-97f1-f8a86f517f38_2) | &nbsp;&nbsp; 33 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [Alternative Cash Surrender Value](#xx_e03a490f-889e-496a-97f1-f8a86f517f38_2) | &nbsp;&nbsp; 33 |
| &nbsp;&nbsp;&nbsp;&nbsp; [Investment Divisions and the Fixed Account](#xx_e03a490f-889e-496a-97f1-f8a86f517f38_3) | &nbsp;&nbsp; 34 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [Amount in the Separate Account](#xx_e03a490f-889e-496a-97f1-f8a86f517f38_3) | &nbsp;&nbsp; 34 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [Determining The Value Of An Accumulation](#xx_e03a490f-889e-496a-97f1-f8a86f517f38_3)<br> [Unit](#xx_e03a490f-889e-496a-97f1-f8a86f517f38_3)<br>| &nbsp;&nbsp; 34 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [Amount in the Fixed Account](#xx_e03a490f-889e-496a-97f1-f8a86f517f38_3) | &nbsp;&nbsp; 34 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [Transfers Among Investment Divisions and](#xx_e03a490f-889e-496a-97f1-f8a86f517f38_4)<br> [the Fixed Account](#xx_e03a490f-889e-496a-97f1-f8a86f517f38_4)<br>| &nbsp;&nbsp; 35 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [Transfers among Investment Divisions and](#xx_e03a490f-889e-496a-97f1-f8a86f517f38_4)<br> [from the Investment Divisions to the Fixed](#xx_e03a490f-889e-496a-97f1-f8a86f517f38_4)<br> [Account:](#xx_e03a490f-889e-496a-97f1-f8a86f517f38_4)<br>| &nbsp;&nbsp; 35 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [Transfers from the Fixed Account to the](#xx_e03a490f-889e-496a-97f1-f8a86f517f38_5)<br> [Investment Divisions:](#xx_e03a490f-889e-496a-97f1-f8a86f517f38_5)<br>| &nbsp;&nbsp; 36 |
| &nbsp;&nbsp;&nbsp;&nbsp; [Limits On Transfers](#xx_e03a490f-889e-496a-97f1-f8a86f517f38_5) | &nbsp;&nbsp; 36 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [Additional Benefits Through Riders and](#xx_e03a490f-889e-496a-97f1-f8a86f517f38_7)<br> [Options](#xx_e03a490f-889e-496a-97f1-f8a86f517f38_7)<br>| &nbsp;&nbsp; 38 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [Dollar Cost Averaging](#xx_e03a490f-889e-496a-97f1-f8a86f517f38_10) | &nbsp;&nbsp; 41 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [Automatic Asset Reallocation (AAR)](#xx_e03a490f-889e-496a-97f1-f8a86f517f38_10) | &nbsp;&nbsp; 41 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [Supplementary Term Rider](#xx_e03a490f-889e-496a-97f1-f8a86f517f38_10) | &nbsp;&nbsp; 41 |

---

i

------

---

| | |
|:---|:---|
|  | **Page** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [Term Rider vs. Base Policy Coverage:](#xx_e03a490f-889e-496a-97f1-f8a86f517f38_12) | &nbsp;&nbsp; 43 |
| &nbsp;&nbsp;&nbsp;&nbsp; [Attained Age 100 Policy Anniversary](#xx_e03a490f-889e-496a-97f1-f8a86f517f38_13) | &nbsp;&nbsp; 44 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [Tax-Free "Section 1035" Insurance Policy](#xx_e03a490f-889e-496a-97f1-f8a86f517f38_13)<br> [Exchanges](#xx_e03a490f-889e-496a-97f1-f8a86f517f38_13)<br>| &nbsp;&nbsp; 44 |
| &nbsp;&nbsp;&nbsp;&nbsp; [24 Month Exchange Privilege](#xx_e03a490f-889e-496a-97f1-f8a86f517f38_14) | &nbsp;&nbsp; 45 |
| **[Loans](#xx_70bb085c-2024-4748-8ecd-e2aa360ca2ec_1)** | &nbsp;&nbsp; 46 |
| &nbsp;&nbsp;&nbsp;&nbsp; [Your Policy as Collateral for a Loan](#xx_70bb085c-2024-4748-8ecd-e2aa360ca2ec_1) | &nbsp;&nbsp; 46 |
| &nbsp;&nbsp;&nbsp;&nbsp; [Loan Interest](#xx_70bb085c-2024-4748-8ecd-e2aa360ca2ec_1) | &nbsp;&nbsp; 46 |
| &nbsp;&nbsp;&nbsp;&nbsp; [Loan Repayment](#xx_70bb085c-2024-4748-8ecd-e2aa360ca2ec_2) | &nbsp;&nbsp; 47 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [Interest Credited on the Cash Value Held as](#xx_70bb085c-2024-4748-8ecd-e2aa360ca2ec_2)<br> [Collateral for a Policy Loan](#xx_70bb085c-2024-4748-8ecd-e2aa360ca2ec_2)<br>| &nbsp;&nbsp; 47 |
| &nbsp;&nbsp;&nbsp;&nbsp; [Excess Loan Condition](#xx_70bb085c-2024-4748-8ecd-e2aa360ca2ec_2) | &nbsp;&nbsp; 47 |
| &nbsp;&nbsp;&nbsp;&nbsp; [The Effect of a Policy Loan](#xx_70bb085c-2024-4748-8ecd-e2aa360ca2ec_2) | &nbsp;&nbsp; 47 |
| **[Premiums](#xx_91582533-266a-464b-a802-9764d324a5d9_1)** | &nbsp;&nbsp; 49 |
| &nbsp;&nbsp;&nbsp;&nbsp; [Planned Premium](#xx_91582533-266a-464b-a802-9764d324a5d9_1) | &nbsp;&nbsp; 49 |
| &nbsp;&nbsp;&nbsp;&nbsp; [Unplanned Premium](#xx_91582533-266a-464b-a802-9764d324a5d9_1) | &nbsp;&nbsp; 49 |
| &nbsp;&nbsp;&nbsp;&nbsp; [Risk of Minimally Funded Policies](#xx_91582533-266a-464b-a802-9764d324a5d9_1) | &nbsp;&nbsp; 49 |
| &nbsp;&nbsp;&nbsp;&nbsp; [Timing and Valuation](#xx_91582533-266a-464b-a802-9764d324a5d9_2) | &nbsp;&nbsp; 50 |
| &nbsp;&nbsp;&nbsp;&nbsp; [Free Look](#xx_91582533-266a-464b-a802-9764d324a5d9_2) | &nbsp;&nbsp; 50 |
| &nbsp;&nbsp;&nbsp;&nbsp; [Premium Payments](#xx_91582533-266a-464b-a802-9764d324a5d9_2) | &nbsp;&nbsp; 50 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [Premium Payments Returned for Insufficient](#xx_91582533-266a-464b-a802-9764d324a5d9_3)<br> [Funds](#xx_91582533-266a-464b-a802-9764d324a5d9_3)<br>| &nbsp;&nbsp; 51 |
| **[Policy Payment Information](#xx_41d5b0e5-49eb-493c-bd5e-fe5712cc1e3d_1)** | &nbsp;&nbsp; 52 |
| &nbsp;&nbsp;&nbsp;&nbsp; [When Life Insurance Coverage Begins](#xx_41d5b0e5-49eb-493c-bd5e-fe5712cc1e3d_1) | &nbsp;&nbsp; 52 |
| &nbsp;&nbsp;&nbsp;&nbsp; [Changing the Face Amount of Your Policy](#xx_41d5b0e5-49eb-493c-bd5e-fe5712cc1e3d_1) | &nbsp;&nbsp; 52 |
| &nbsp;&nbsp;&nbsp;&nbsp; [Life Insurance Proceeds](#xx_41d5b0e5-49eb-493c-bd5e-fe5712cc1e3d_2) | &nbsp;&nbsp; 53 |
| &nbsp;&nbsp;&nbsp;&nbsp; [Payees](#xx_41d5b0e5-49eb-493c-bd5e-fe5712cc1e3d_2) | &nbsp;&nbsp; 53 |
| &nbsp;&nbsp;&nbsp;&nbsp; [How We Will Pay Life Insurance Proceeds](#xx_41d5b0e5-49eb-493c-bd5e-fe5712cc1e3d_3) | &nbsp;&nbsp; 54 |
| &nbsp;&nbsp;&nbsp;&nbsp; [When We Pay Policy Proceeds](#xx_41d5b0e5-49eb-493c-bd5e-fe5712cc1e3d_3) | &nbsp;&nbsp; 54 |
| &nbsp;&nbsp;&nbsp;&nbsp; [Life Insurance Benefit Options](#xx_41d5b0e5-49eb-493c-bd5e-fe5712cc1e3d_4) | &nbsp;&nbsp; 55 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [Effect of Investment Performance on the Life](#xx_41d5b0e5-49eb-493c-bd5e-fe5712cc1e3d_5)<br> [Insurance Benefit](#xx_41d5b0e5-49eb-493c-bd5e-fe5712cc1e3d_5)<br>| &nbsp;&nbsp; 56 |
| &nbsp;&nbsp;&nbsp;&nbsp; [Changing Your Life Insurance Benefit Option](#xx_41d5b0e5-49eb-493c-bd5e-fe5712cc1e3d_6) | &nbsp;&nbsp; 57 |
| **[Additional Policy Provisions](#xx_41d5b0e5-49eb-493c-bd5e-fe5712cc1e3d_6)** | &nbsp;&nbsp; 57 |
| &nbsp;&nbsp;&nbsp;&nbsp; [Change of Ownership](#xx_41d5b0e5-49eb-493c-bd5e-fe5712cc1e3d_6) | &nbsp;&nbsp; 57 |
| &nbsp;&nbsp;&nbsp;&nbsp; [Limits On Our Rights To Challenge Your Policy](#xx_41d5b0e5-49eb-493c-bd5e-fe5712cc1e3d_7) | &nbsp;&nbsp; 58 |
| &nbsp;&nbsp;&nbsp;&nbsp; [Suicide](#xx_41d5b0e5-49eb-493c-bd5e-fe5712cc1e3d_7) | &nbsp;&nbsp; 58 |
| &nbsp;&nbsp;&nbsp;&nbsp; [Misstatement of Age or Gender](#xx_41d5b0e5-49eb-493c-bd5e-fe5712cc1e3d_7) | &nbsp;&nbsp; 58 |
| &nbsp;&nbsp;&nbsp;&nbsp; [Assignment](#xx_41d5b0e5-49eb-493c-bd5e-fe5712cc1e3d_7) | &nbsp;&nbsp; 58 |
| **[Surrenders](#xx_41d5b0e5-49eb-493c-bd5e-fe5712cc1e3d_8)** | &nbsp;&nbsp; 59 |
| &nbsp;&nbsp;&nbsp;&nbsp; [Partial Surrenders](#xx_41d5b0e5-49eb-493c-bd5e-fe5712cc1e3d_8) | &nbsp;&nbsp; 59 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [Amount Available for a Partial Surrender](#xx_41d5b0e5-49eb-493c-bd5e-fe5712cc1e3d_8) | &nbsp;&nbsp; 59 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [Requesting a Partial Surrender](#xx_41d5b0e5-49eb-493c-bd5e-fe5712cc1e3d_8) | &nbsp;&nbsp; 59 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [The Effect of a Partial Surrender](#xx_41d5b0e5-49eb-493c-bd5e-fe5712cc1e3d_8) | &nbsp;&nbsp; 59 |
| &nbsp;&nbsp;&nbsp;&nbsp; [Full Surrenders](#xx_41d5b0e5-49eb-493c-bd5e-fe5712cc1e3d_10) | &nbsp;&nbsp; 61 |

---

---

| | |
|:---|:---|
|  | **Page** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [Cash Value](#xx_41d5b0e5-49eb-493c-bd5e-fe5712cc1e3d_10) | &nbsp;&nbsp; 61 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [Cash Surrender Value](#xx_41d5b0e5-49eb-493c-bd5e-fe5712cc1e3d_10) | &nbsp;&nbsp; 61 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [Alternative Cash Surrender Value](#xx_41d5b0e5-49eb-493c-bd5e-fe5712cc1e3d_11) | &nbsp;&nbsp; 62 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [Requesting a Surrender](#xx_41d5b0e5-49eb-493c-bd5e-fe5712cc1e3d_12) | &nbsp;&nbsp; 63 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [When the Surrender is Effective](#xx_41d5b0e5-49eb-493c-bd5e-fe5712cc1e3d_12) | &nbsp;&nbsp; 63 |
| **[Termination and Reinstatement](#xx_41d5b0e5-49eb-493c-bd5e-fe5712cc1e3d_12)** | &nbsp;&nbsp; 63 |
| &nbsp;&nbsp;&nbsp;&nbsp; [Late Period](#xx_41d5b0e5-49eb-493c-bd5e-fe5712cc1e3d_12) | &nbsp;&nbsp; 63 |
| &nbsp;&nbsp;&nbsp;&nbsp; [Reinstatement Option](#xx_41d5b0e5-49eb-493c-bd5e-fe5712cc1e3d_12) | &nbsp;&nbsp; 63 |
| **[Distribution and Compensation](#xx_60c993db-5590-437d-bbf2-0a6496eb7310_1)**<br> **[Arrangements](#xx_60c993db-5590-437d-bbf2-0a6496eb7310_1)**<br>| &nbsp;&nbsp; 65 |
| **[Federal Income Tax Considerations](#xx_60c993db-5590-437d-bbf2-0a6496eb7310_1)** | &nbsp;&nbsp; 65 |
| &nbsp;&nbsp;&nbsp;&nbsp; [Our Intent](#xx_60c993db-5590-437d-bbf2-0a6496eb7310_1) | &nbsp;&nbsp; 65 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [Tax Status of NYLIAC and the Separate](#xx_60c993db-5590-437d-bbf2-0a6496eb7310_1)<br> [Account](#xx_60c993db-5590-437d-bbf2-0a6496eb7310_1)<br>| &nbsp;&nbsp; 65 |
| &nbsp;&nbsp;&nbsp;&nbsp; [Charges for Taxes](#xx_60c993db-5590-437d-bbf2-0a6496eb7310_1) | &nbsp;&nbsp; 65 |
| &nbsp;&nbsp;&nbsp;&nbsp; [Diversification Standards and Control Issues](#xx_60c993db-5590-437d-bbf2-0a6496eb7310_2) | &nbsp;&nbsp; 66 |
| &nbsp;&nbsp;&nbsp;&nbsp; [Life Insurance Status of Policy](#xx_60c993db-5590-437d-bbf2-0a6496eb7310_2) | &nbsp;&nbsp; 66 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [IRC Section 101(j)—Impact on](#xx_60c993db-5590-437d-bbf2-0a6496eb7310_3)<br> [Employer-Owned Policies](#xx_60c993db-5590-437d-bbf2-0a6496eb7310_3)<br>| &nbsp;&nbsp; 67 |
| &nbsp;&nbsp;&nbsp;&nbsp; [Modified Endowment Contract Status](#xx_60c993db-5590-437d-bbf2-0a6496eb7310_3) | &nbsp;&nbsp; 67 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [Status of the Policy After the Insured Is Age](#xx_60c993db-5590-437d-bbf2-0a6496eb7310_4)<br> [100](#xx_60c993db-5590-437d-bbf2-0a6496eb7310_4)<br>| &nbsp;&nbsp; 68 |
| &nbsp;&nbsp;&nbsp;&nbsp; [Policy Surrenders and Partial Surrenders](#xx_60c993db-5590-437d-bbf2-0a6496eb7310_4) | &nbsp;&nbsp; 68 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [3.8 Percent Medicare Tax on Certain](#xx_60c993db-5590-437d-bbf2-0a6496eb7310_5)<br> [Investment Income](#xx_60c993db-5590-437d-bbf2-0a6496eb7310_5)<br>| &nbsp;&nbsp; 69 |
| &nbsp;&nbsp;&nbsp;&nbsp; [Policy Loans and Interest Deductions](#xx_60c993db-5590-437d-bbf2-0a6496eb7310_5) | &nbsp;&nbsp; 69 |
| &nbsp;&nbsp;&nbsp;&nbsp; [Exchanges, Sales, or Assignments of Policies](#xx_60c993db-5590-437d-bbf2-0a6496eb7310_5) | &nbsp;&nbsp; 69 |
| &nbsp;&nbsp;&nbsp;&nbsp; [Qualified Plans](#xx_60c993db-5590-437d-bbf2-0a6496eb7310_6) | &nbsp;&nbsp; 70 |
| &nbsp;&nbsp;&nbsp;&nbsp; [Withholding](#xx_60c993db-5590-437d-bbf2-0a6496eb7310_6) | &nbsp;&nbsp; 70 |
| &nbsp;&nbsp;&nbsp;&nbsp; [Business Uses of Policy](#xx_60c993db-5590-437d-bbf2-0a6496eb7310_6) | &nbsp;&nbsp; 70 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [Non-Individual Owners and Business](#xx_60c993db-5590-437d-bbf2-0a6496eb7310_6)<br> [Beneficiaries of Policies](#xx_60c993db-5590-437d-bbf2-0a6496eb7310_6)<br>| &nbsp;&nbsp; 70 |
| &nbsp;&nbsp;&nbsp;&nbsp; [Corporate Owners](#xx_60c993db-5590-437d-bbf2-0a6496eb7310_6) | &nbsp;&nbsp; 70 |
| &nbsp;&nbsp;&nbsp;&nbsp; [Split-Dollar Arrangements](#xx_60c993db-5590-437d-bbf2-0a6496eb7310_7) | &nbsp;&nbsp; 71 |
| &nbsp;&nbsp;&nbsp;&nbsp; [Tax Shelter Regulations](#xx_60c993db-5590-437d-bbf2-0a6496eb7310_7) | &nbsp;&nbsp; 71 |
| &nbsp;&nbsp;&nbsp;&nbsp; [Other Tax Considerations](#xx_60c993db-5590-437d-bbf2-0a6496eb7310_7) | &nbsp;&nbsp; 71 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [Life Insurance Purchases by Residents of](#xx_60c993db-5590-437d-bbf2-0a6496eb7310_7)<br> [Puerto Rico](#xx_60c993db-5590-437d-bbf2-0a6496eb7310_7)<br>| &nbsp;&nbsp; 71 |
| **[Legal Proceedings](#xx_60c993db-5590-437d-bbf2-0a6496eb7310_7)** | &nbsp;&nbsp; 71 |
| **[Records and Reports](#xx_60c993db-5590-437d-bbf2-0a6496eb7310_8)** | &nbsp;&nbsp; 72 |
| **[Financial Statements](#xx_60c993db-5590-437d-bbf2-0a6496eb7310_8)** | &nbsp;&nbsp; 72 |
| **[State Variations](#xx_60c993db-5590-437d-bbf2-0a6496eb7310_8)** | &nbsp;&nbsp; 72 |
| **[Appendix: Eligible Portfolios Available Under](#xx_f9dfb463-a59a-411c-a942-224bc8f24797_1)**<br> **[the Policy](#xx_f9dfb463-a59a-411c-a942-224bc8f24797_1)**<br>| &nbsp;&nbsp; 76 |
| **[Obtaining Additional Information](#xx_aa0f500b-35ff-4d1c-a3d9-32c58c702aa7_1)** | &nbsp;&nbsp; 97 |

---

ii

------

**Definitions**

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**1933 Act:** The Securities Act of 1933, as amended.

**1940 Act:** The Investment Company Act of 1940, as amended.

**AAR:** Automatic Asset Reallocation.

**Accumulation Unit:** An accounting unit we use to calculate the value in the Investment Divisions. We use Net Premiums and transfers allocated to the Investment Divisions to purchase Accumulation Units in those Investment Divisions.

**Accumulation Value:** The sum of the dollar value of the Accumulation Units in all of the Investment Divisions.

**Allocation Alternatives:** The Investment Divisions of the Separate Account and the Fixed Account. Generally, policyowners may invest their Net Premiums in a total of 20 Allocation Alternatives at any one time but certain Policies may invest in 35 Allocation Alternatives.

**Alternative Cash Surrender Value ("ACSV"):** The Cash Value of the Policy plus the value of the DPL Account.

**Attained Age:** The Insured's issue age, plus the number of Policy Years completed since the Policy Date.

**Business Day:** Any day on which the NYSE is open for regular trading. Our Business Day ends at 4:00 p.m. Eastern Time or the closing of regular trading on the NYSE, if earlier. (Each Business Day is Valuation Day.)

**Cash Surrender Value:** The Cash Value less Policy Debt.

**Cash Value:** The sum of (a) the Accumulation Value, (b) the value in the Fixed Account, and (c) the value in the Loan Account.

**Cash Value Accumulation Test ("CVAT"):** An IRS test to determine whether a policy can be considered life insurance. See "Policy Payment Information—Life Insurance Benefit Options" for more information.

**Cost of Insurance:** A monthly charge that is deducted from your Policy's Cash Value on the Monthly Deduction Day for the costs of providing a Life Insurance Benefit.

**Cumulative Premium Amount:** An amount representing the sum of the total Planned and Unplanned Premium payments made under the Policy less the total partial surrenders and partial surrender fees taken under the Policy. Reductions due to partial surrenders will never cause this amount to be less than zero. This amount is used to calculate Life Insurance Benefit Option 3.

**DPL Account:** The Deferred Premium Load Account, an account representing a portion of the cumulative sales expense charge and State and Federal Premium Tax charges collected.

**Effective Annual Loan Interest Rate:** The rate that is payable in arrears on the Policy Anniversary, as stated on the Policy Data Pages, for any loans taken under the Policy.

**Eligible Portfolios ("Portfolios"):** The mutual fund portfolios of the Funds that are available for investment through the Investment Divisions. See "Appendix—Eligible Portfolios Available Under the Policy" for a listing and information about the Eligible Portfolios.

**Face Amount:** The dollar amount of life insurance under the Policy as selected by the policyowner. It may be changed by the policyowner. It equals the initial Face Amount shown on the Policy Data Pages, plus or minus any changes made to the initial Face Amount. See "Policy Payment Information—Changing the Face Amount of Your Policy" for more information about the Face Amount.

**FDIC:** Federal Deposit Insurance Corporation.

**FINRA:** The Financial Industry Regulatory Authority, Inc.

**Fixed Account:** The Allocation Alternative that accrues interest at fixed rates on a daily basis, subject to a minimum guarantee, which is credited on each Monthly Deduction Day. This rate can change, subject to the Guaranteed Minimum Interest Rate. Assets in the Fixed Account are part of NYLIAC's General Account.

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**Flat Extra:** An additional charge that may be assessed and added to the Cost of Insurance charge to cover an additional risk on the Insured, based on our assumption of mortality risk attributable to hazards or hazardous activities whose risks are assessed to be largely independent of age. If applicable, the amount and duration of any Flat Extra will be displayed on the Policy Data Pages.

**Fund:** An open-end management investment company that is registered with the SEC under the 1940 Act.

**General Account:** An account representing all of NYLIAC's assets, liabilities, capital and surplus, income, gains, or losses that are not included in the Separate Account or any other separate account. These assets are subject to the claims of our general creditors. We allocate to this account any Net Premium payments you make during the free look period.

**Good Order:** A Notice, Request, or Policy transaction is in "Good Order" if it complies with our administrative procedures and the required information is complete and correct. We may delay our response to a Notice, Request, or Policy transaction if it is not in Good Order. Good Order generally means our actual receipt of instructions relating to the Notice, Request, or Policy transaction at our Service Office (or, if permitted, by telephone or electronically to NYLAMN_Service@newyorklife.com), along with all forms and other information or documentation necessary to complete the Policy transaction. We may determine whether any particular Notice, Request, or Policy transaction is in Good Order. If you have any questions, you should contact us or your registered representative before submitting a Notice, Request, or Policy transaction.

**Guaranteed Minimum Interest Rate ("GMIR"):** The guaranteed minimum interest crediting rate for the Fixed Account, as shown on the Policy Data Pages.

**Guideline Premium Test ("GPT"):** An IRS test to determine whether a policy can be considered life insurance. See "Policy Payment Information—Life Insurance Benefit Options" for more information.

**Insured:** The person whose life the Policy covers, as named in the application and stated on the Policy Data Pages.

**Investment Division:** A subaccount of the Separate Account. Each Investment Division invests exclusively in shares of a specified Eligible Portfolio.

**IRC:** Internal Revenue Code of 1986, as amended.

**IRS:** The Internal Revenue Service.

**Issue Date:** The date we issue the Policy, as specified on the Policy Data Pages.

**Late Period:** A period of 62 days after the Monthly Deduction Day when the Cash Surrender Value is less than the Monthly Deduction Charges for the next Policy Month.

**Life Insurance Benefit:** The benefit calculated under the Life Insurance Benefit Option you have chosen.

**Life Insurance Proceeds:** The amount we will pay to the beneficiary when we receive due proof in Good Order that the Insured died while the Policy is in effect. The Life Insurance Proceeds are equal to (1 + 2) – (3 + 4) where: (1) is the Life Insurance Benefit calculated under the Life Insurance Benefit Option you have chosen, valued as of the date of death; (2) is any additional death benefits available under any available riders, if elected; (3) is any Policy Debt; and (4) is any unpaid Monthly Deduction Charges.

**Loan Account:** The account that holds a portion of Cash Value for the purpose of securing any Policy Debt. It is part of NYLIAC's General Account.

**Loan Value:** The amount of Cash Value available to borrow using your Policy as sole security. Unless otherwise provided in your Policy, the loan value on any given date may equal up to 90% of the Cash Value less any Policy Debt as of that date.

**MEC:** A modified endowment contract, which is a type of life insurance contract defined in Section 7702A of the Internal Revenue Code. For a description of MECs and the tax consequences of MEC status, please see "Federal Income Tax Considerations—Modified Endowment Contract Status" below.

**Minimum Redemption:** The minimum amount that you can redeem from an Investment Division, as stated on the Policy Data Pages.

------

**Monthly Contract Charge:** A monthly charge that is deducted from your Policy's Cash Value on the Monthly Deduction Day for the costs of providing certain administrative services, including Premium collection, record-keeping, processing claims, and communicating with policyowners, as specified on the Policy Data Pages.

**Monthly Deduction Charges:** The Monthly Deduction Charges consist of the Cost of Insurance charge, additional Flat Extras, Mortality and Expense Risk Charge, Monthly Contract Charge, and any applicable monthly rider charges deducted from your Policy's Cash Value on each Monthly Deduction Day.

**Monthly Deduction Day:** The date of each month, specified on the Policy Data Pages, as of which we deduct from Cash Value the Mortality and Expense Risk Charge, the Monthly Contract Charge, the Cost of Insurance charge (including any Flat Extras), and, if applicable, a rider charge for the cost of the STR. The first Monthly Deduction Day will be the first monthly anniversary of the Policy Date on or following the Issue Date. However, if we have not received your initial Premium payment as of the Issue Date, the first Monthly Deduction Day will be the monthly anniversary of the Policy Date on or following the date we receive the initial Premium payment.

**Mortality and Expense Risk Charge:** A monthly charge that is assessed to cover the risk that the group of lives we have insured under our Policies will, on average, not live as long as we expect (mortality risk), and the risk that the cost of issuing and administering the Policies will be greater than we have estimated (expense risk).

**Net Amount at Risk:** The Net Amount of Risk is equal to the number of thousands of Life Insurance Benefit divided by 1.0032737 minus the number of thousands of Alternative Cash Surrender Value as of the Monthly Deduction Day (before the Cost of Insurance is deducted but only after the other Monthly Deduction Charges are deducted). See "Policy Payment Information–Life Insurance Benefit Options" for more information.

**Net Premium:** Premium you pay less the Sales Expense Charge and the State and Federal Premium Tax Charges.

**Notice:** A signed written notice in Good Order received at our Service Office which gives us the facts that we need. When you write to us, please include the Policy number, the Insured's full name, and your current address.

**NYLIAC:** New York Life Insurance and Annuity Corporation.

**NYLIC:** New York Life Insurance Company.

**NYLIFE Distributors:** NYLIFE Distributors, LLC.

**NYLIFE Securities:** NYLIFE Securities, LLC.

**NYSE:** The New York Stock Exchange.

**Planned Premium:** The initial Premium and the Premium amounts for Policy Years 2-10 as set forth in the Policy application and/or on Policy Data Page 2.

**Policy or Corp Exec VUL VI:** Your Corp Exec VUL VI variable universal life policy.

**Policy Anniversary:** The anniversary of the Policy Date specified on the Policy Data Pages. A Policy Anniversary starts a new Policy Year.

**Policy Data Pages:** The Policy pages that provide information regarding your Policy, such as Face Amount, Premium payments, and Policy charges.

**Policy Date:** The date we use as the starting point for determining Policy Years and Monthly Deduction Days. Your Policy Date will be the same as your Issue Date, unless you Request otherwise. Generally, you may not choose a Policy Date that is more than six months before your Policy's Issue Date. You can find your Policy Date on the Policy Data Pages.

**Policy Debt:** The amount of outstanding loan(s) under your Policy, plus accrued interest.

**Policy Month:** The monthly period beginning on each Monthly Deduction Day and extending to, but not including, the next Monthly Deduction Day.

**Policy Year:** The year from a Policy Anniversary to, but not including, the next Policy Anniversary. The first Policy Year begins on the Policy Date, and each twelve-month period thereafter.

**Premium:** A Planned Premium or an Unplanned Premium.

------

**Qualified Plan:** An employee benefit plan that is intended to qualify for special federal income tax treatment under Section 401(a) of the IRC.

**Qualified Policy:** A variable universal life insurance policy owned by a Qualified Plan.

**Request:** A signed written request in Good Order received at our Service Office which gives us the facts that we need. When you write to us, please include the Policy number, the Insured's full name, and your current address.

**Sales Standards:** The criteria used to evaluate whether a recommended transaction, relating to your policy, complies with applicable standards of conduct.

**SEC:** The U.S. Securities and Exchange Commission.

**Separate Account:** NYLIAC Corporate Sponsored Variable Universal Life Separate Account-I, a segregated asset account NYLIAC established to receive and invest Net Premiums that are allocated to the Investment Divisions. The Separate Account is divided into subaccounts that correspond to the Investment Divisions.

**Service Office:** As shown on the front cover of this prospectus.

**STR:** Supplementary Term Rider.

**Target Face Amount:** The Face Amount of the Policy or, for policyowners who have elected to include the STR, the Target Face Amount is the sum of the Face Amount plus the Term Insurance Benefit.

**Target Premium:** An amount used to determine the Sales Expense Charge. The Target Premium is based on the Face Amount of the Policy or the Target Face Amount if the STR is included. Any change to the Policy which results in a change to the Face Amount will change the Target Premium.

**Term Insurance Benefit:** The dollar amount of life insurance under the STR as determined at the time of issue. It equals the initial Term Face Amount shown on the Policy Data Pages, plus or minus any changes made to the initial Term Face Amount.

**Unplanned Premium:** Premium payments you make in addition to Planned Premium.

------

**Important Information You Should Consider About the Policy**

------

**Fees and Expenses**<br>

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

**Please refer to your Policy Data Pages for information about the specific fees** <br> **you will pay each year based on the options you have selected.**<br>

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

---

| | | | |
|:---|:---|:---|:---|
| **Transaction Charges** | We charge you a **Sales Expense Charge**, **State Premium Tax Charge**, and **Federal** <br> **Premium Tax Charge** on each Premium you pay up to Attained Age 100. The **Sales** <br> **Expense Charges** will differ according to the blend of base Policy and term rider life <br> insurance coverage that you can obtain under the Supplementary Term Rider. See <br> "Charges Associated with the Policy—Deductions from Premium Payments" for more <br> information.<br> We may also charge you a **Fund Transfer Charge** on transfers among the <br> investment options under your Policy and a **Partial Surrender Processing Fee** on <br> partial surrenders. Currently, we are not imposing these charges. See "Charges <br> Associated with the Policy—Separate Account Charges—Fund Transfer Charge" and <br> "—Partial Surrender Processing Fee."<br> Finally, we reserve the right to charge a fee for returned payments, but we are not <br> currently charging it. | We charge you a **Sales Expense Charge**, **State Premium Tax Charge**, and **Federal** <br> **Premium Tax Charge** on each Premium you pay up to Attained Age 100. The **Sales** <br> **Expense Charges** will differ according to the blend of base Policy and term rider life <br> insurance coverage that you can obtain under the Supplementary Term Rider. See <br> "Charges Associated with the Policy—Deductions from Premium Payments" for more <br> information.<br> We may also charge you a **Fund Transfer Charge** on transfers among the <br> investment options under your Policy and a **Partial Surrender Processing Fee** on <br> partial surrenders. Currently, we are not imposing these charges. See "Charges <br> Associated with the Policy—Separate Account Charges—Fund Transfer Charge" and <br> "—Partial Surrender Processing Fee."<br> Finally, we reserve the right to charge a fee for returned payments, but we are not <br> currently charging it. | We charge you a **Sales Expense Charge**, **State Premium Tax Charge**, and **Federal** <br> **Premium Tax Charge** on each Premium you pay up to Attained Age 100. The **Sales** <br> **Expense Charges** will differ according to the blend of base Policy and term rider life <br> insurance coverage that you can obtain under the Supplementary Term Rider. See <br> "Charges Associated with the Policy—Deductions from Premium Payments" for more <br> information.<br> We may also charge you a **Fund Transfer Charge** on transfers among the <br> investment options under your Policy and a **Partial Surrender Processing Fee** on <br> partial surrenders. Currently, we are not imposing these charges. See "Charges <br> Associated with the Policy—Separate Account Charges—Fund Transfer Charge" and <br> "—Partial Surrender Processing Fee."<br> Finally, we reserve the right to charge a fee for returned payments, but we are not <br> currently charging it. |
| **Ongoing Fees and** <br> **Expenses**<br>| In addition to transaction charges, an investment in the Policy is subject to certain <br> ongoing fees and expenses which we deduct monthly, including **Cost of Insurance** <br> **charges**, **Flat Extras charges** (added to the Cost of Insurance charge to cover <br> certain additional mortality risk) and term rider charges. These charges may vary <br> based on the characteristics of the Insured (e.g., issue age, gender, underwriting <br> class, Policy Year, and the Face Amount and Life Insurance Benefit Option of your <br> Policy). See "Charges Associated with the Policy—Deductions from Cash <br> Value—Cost of Insurance Charge" and "Description of the Policy—Additional <br> Benefits through Riders and Options."<br> We also charge a **Mortality and Expense Risk Charge** and a **Monthly Contract** <br> **Charge**. See "Charges Associated with the Policy—Deductions from Cash Value" and <br> "—Loan Charges." You should review the Policy Data Pages of your Policy for rates <br> and the specific fees applicable to your Policy.<br> You will also bear expenses associated with the Eligible Portfolios available under <br> your Policy, as shown in the following table, which shows the minimum and maximum <br> total operating expenses deducted from the assets of the Eligible Portfolios (before <br> any fee waiver or expense reimbursement) during the year ended December 31, <br> 2025. (See "Appendix—Eligible Portfolios Available Under the Policy" for our list of <br> available Eligible Portfolios, the current expenses for these Portfolios, and the <br> Average Annual Total Returns). | In addition to transaction charges, an investment in the Policy is subject to certain <br> ongoing fees and expenses which we deduct monthly, including **Cost of Insurance** <br> **charges**, **Flat Extras charges** (added to the Cost of Insurance charge to cover <br> certain additional mortality risk) and term rider charges. These charges may vary <br> based on the characteristics of the Insured (e.g., issue age, gender, underwriting <br> class, Policy Year, and the Face Amount and Life Insurance Benefit Option of your <br> Policy). See "Charges Associated with the Policy—Deductions from Cash <br> Value—Cost of Insurance Charge" and "Description of the Policy—Additional <br> Benefits through Riders and Options."<br> We also charge a **Mortality and Expense Risk Charge** and a **Monthly Contract** <br> **Charge**. See "Charges Associated with the Policy—Deductions from Cash Value" and <br> "—Loan Charges." You should review the Policy Data Pages of your Policy for rates <br> and the specific fees applicable to your Policy.<br> You will also bear expenses associated with the Eligible Portfolios available under <br> your Policy, as shown in the following table, which shows the minimum and maximum <br> total operating expenses deducted from the assets of the Eligible Portfolios (before <br> any fee waiver or expense reimbursement) during the year ended December 31, <br> 2025. (See "Appendix—Eligible Portfolios Available Under the Policy" for our list of <br> available Eligible Portfolios, the current expenses for these Portfolios, and the <br> Average Annual Total Returns). | In addition to transaction charges, an investment in the Policy is subject to certain <br> ongoing fees and expenses which we deduct monthly, including **Cost of Insurance** <br> **charges**, **Flat Extras charges** (added to the Cost of Insurance charge to cover <br> certain additional mortality risk) and term rider charges. These charges may vary <br> based on the characteristics of the Insured (e.g., issue age, gender, underwriting <br> class, Policy Year, and the Face Amount and Life Insurance Benefit Option of your <br> Policy). See "Charges Associated with the Policy—Deductions from Cash <br> Value—Cost of Insurance Charge" and "Description of the Policy—Additional <br> Benefits through Riders and Options."<br> We also charge a **Mortality and Expense Risk Charge** and a **Monthly Contract** <br> **Charge**. See "Charges Associated with the Policy—Deductions from Cash Value" and <br> "—Loan Charges." You should review the Policy Data Pages of your Policy for rates <br> and the specific fees applicable to your Policy.<br> You will also bear expenses associated with the Eligible Portfolios available under <br> your Policy, as shown in the following table, which shows the minimum and maximum <br> total operating expenses deducted from the assets of the Eligible Portfolios (before <br> any fee waiver or expense reimbursement) during the year ended December 31, <br> 2025. (See "Appendix—Eligible Portfolios Available Under the Policy" for our list of <br> available Eligible Portfolios, the current expenses for these Portfolios, and the <br> Average Annual Total Returns). |
|  | **Annual Fee** | **Minimum** | **Maximum** |
|  | Investment Options<br> (Eligible Portfolio fees <br> and expenses)<br>| 0.09% | 2.475% |

---

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

**Risks**<br>

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

---

| | |
|:---|:---|
| **Risk of Loss** | You can lose money by investing in the Policy. See "Summary of Principal Risks of <br> Investing in the Policy—Investment Risk."<br>|

---

------

---

| | |
|:---|:---|
| **Not a Short-Term** <br> **Investment**<br>| The Policy is not a short-term investment and is not appropriate for an investor who <br> needs ready access to cash. It is designed to provide a life insurance benefit and to <br> help meet other long-term financial objectives. Substantial fees, expenses, and tax <br> consequences generally make variable life insurance inappropriate as a short-term <br> savings vehicle. Additionally, the Policy may limit your ability to withdraw a portion of <br> the Cash Value through partial surrenders. See "Summary of Principal Risks of <br> Investing in the Policy—Not a Short-Term Investment," "Loans," and <br> "Surrenders—Partial Surrenders—Amount Available for a Partial Surrender."<br>|
| **Risks Associated with** <br> **Investment Options**<br>| An investment in the Policy is subject to the risk of poor investment performance and <br> can vary depending on the performance of the investment options you select. Each <br> Allocation Alternative (including the Fixed Account) has its own unique risks. The <br> performance of the Eligible Portfolios will vary, and some are riskier than others. <br> Accordingly, you should review the prospectuses for the Eligible Portfolios before <br> making an investment decision. A discussion of the risks of allocating your Premiums <br> or Cash Value to one or more Eligible Portfolios can be found in the prospectuses for <br> the Eligible Portfolios, which are available at https://dfinview.com/NewYorkLife/TAHD/<br> corpexec-vi. See also "Management and Organization—Funds and Eligible <br> Portfolios," "—The Fixed Account," and "—Interest Crediting."<br>|
| **Insurance Company Risks** | An investment in the Policy is subject to the risks related to NYLIAC, including that <br> any obligations (including the Fixed Account), guarantees, or benefits under the <br> Policy are subject to the claims-paying ability and financial strength of NYLIAC and <br> are not backed or guaranteed by NYLIC. If NYLIAC experiences financial distress, it <br> may not be able to meet its obligations to you. There are also risks relating to <br> NYLIAC's administration of the Policy, including cybersecurity and infectious disease <br> outbreak risks. More information about NYLIAC, including its claims-paying and <br> financial strength ratings, is available upon request by contacting our Service Office <br> at (888) 695-4748, faxing us at (913) 906-4129, or emailing us at <br> NYLAMN_Service@newyorklife.com.<br>|
| **Contract Lapse** | Your Policy can lapse even if you pay all of the Planned Premiums on time. When a <br> Policy lapses, it has no value, and no benefits are paid upon the death of the Insured. <br> You may also lose the principal invested. Your Policy will lapse if the Cash Surrender <br> Value is insufficient to cover the **Monthly Deduction Charges** and you do not pay <br> enough Premium to cover the overdue charges by the end of the Late Period under <br> your Policy. This can happen in a number of circumstances, including minimal <br> funding, partial surrenders, excessive Policy loans and interest, Policy charges <br> (including increases in Policy charges), market fluctuations, and poor investment <br> return of the Eligible Portfolios you select. The larger a Policy loan becomes relative <br> to the Policy's Cash Value, the greater the risk that the Policy's Cash Surrender Value <br> will not be sufficient to support the Policy's charges and expenses, including any loan <br> interest payable, and the greater the risk of the Policy lapsing. A Policy that has a <br> Cash Surrender Value just sufficient to cover **Monthly Deduction Charges** and other <br> deductions, or that is otherwise minimally funded, is less likely to maintain its Cash <br> Surrender Value due to market fluctuations and other performance-related risks. To <br> continue to keep your Policy in force, Premium payments significantly higher than the <br> Planned Premiums may be required. In addition, by paying only the minimum <br> Premium required to keep the Policy in force, you may forego the opportunity to build <br> up significant Cash Value in the Policy. If the Policy lapses, there are costs and <br> Premium requirements associated with reinstatement of the Policy. See "Principal <br> Risks of Investment in the Policy—Risk of Termination," "Termination and <br> Reinstatement—Late Period" and "–Reinstatement Option." In some states, the <br> Policy's Late Period and other lapse and reinstatement provisions may differ. For <br> more information on state variations, ask your registered representative or see "State <br> Variations."<br>|

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**Restrictions**<br>

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

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| | |
|:---|:---|
| **Investments** | Generally, you may allocate your Net Premiums or Cash Value among up to 20 of the <br> Eligible Portfolios at any one time as well as to the Fixed Account. Certain policies <br> associated with a nonqualified deferred compensation plan may permit allocation <br> among up to 35 Eligible Portfolios and the Fixed Account; please contact us for more <br> information.<br> Unless we agree otherwise, the minimum amount that may be transferred among the <br> Investment Divisions or to or from the Fixed Account at one time is $500 (or, if less, <br> the entire amount in that investment option). If, after a transfer, less than $500 would <br> remain in the relevant Investment Division or the Fixed Account, we may include the <br> remaining value in the transfer. See "Description of the Policy—Investment Divisions <br> and the Fixed Account—Transfers among Investment Divisions and the Fixed <br> Account."<br> In addition, we may limit your ability to make transfers involving the Investment <br> Divisions if a transfer may disadvantage or potentially hurt the rights of other <br> policyowners. We also will reject or reverse a transfer Request if any of the relevant <br> Eligible Portfolios for any reason does not accept the purchase of its shares. For <br> more information about our rights to decline transfers, see "Description of the <br> Policy—Limits on Transfers." For more information about the Eligible Portfolios' rights <br> to refuse or restrict purchases and redemptions of their shares, see their <br> prospectuses.<br> NYLIAC reserves the right to remove or substitute Eligible Portfolios as investment <br> options or close investment options to new investment. See "Management and <br> Organization—Our Rights" and "Appendix—Eligible Portfolios Available Under the <br> Policy" for our list of available Eligible Portfolios.<br> In addition, NYLIAC has the right to establish limits on your ability to allocate Net <br> Premiums, or to transfer all or part of the Cash Value from an Investment Division to <br> the Fixed Account. These limits may include allowing no Premium allocations, or <br> transfers from the Investment Divisions, to the Fixed Account. See "Description of the <br> Policy—Investment Divisions and the Fixed Account—Amount in the Fixed Account" <br> and "—Transfers Among Investment Divisions and the Fixed Account."<br>|

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| | |
|:---|:---|
| **Optional Benefits** | The Supplementary Term Rider is not available for Policies under the guideline <br> premium test.<br>There are limitations on the benefit amounts associated with some optional benefits.<br> Activation of certain optional benefits may affect the Face Amount, life insurance <br> proceeds or other rights under the policy.<br> You are required to have a minimum Cash Value to elect, or retain access to, certain <br> optional benefits.<br> Some optional benefits may have tax implications.<br> We may modify or discontinue offering an optional benefit at any time.<br> Some optional benefits may not be used together.<br> We may change these restrictions in the future.<br> For more detailed information, see "Description of the Policy—Additional Benefits <br> Through Riders and Options."<br>|

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

**Taxes**<br>

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

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| | |
|:---|:---|
| **Tax Implications** | You should consult with a tax professional to determine the tax implications of an <br> investment in and payments received under the Policy. For example, special rules <br> apply to employer-owned policies. The Policy may not be used with tax-qualified <br> plans or individual retirement accounts. Full and partial surrenders (including loans) <br> may be subject to ordinary income tax and, subject to certain exceptions, a 10 <br> percent penalty tax. See "Federal Income Tax Considerations" for more information <br> about the tax consequences of the Policy.<br>|

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

**Conflicts of Interest**<br>

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

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| | |
|:---|:---|
| **Investment Professional** <br> **Compensation**<br>| Selling broker-dealers and, in turn their registered representatives, receive <br> compensation for selling the Policy. The compensation will consist of commissions, <br> asset-based compensation, expense allowances, and/or other compensation <br> programs. NYLIAC also may enter into agreements with service entities, which may <br> be affiliated with broker-dealers, under which NYLIAC pays service fees or additional <br> compensation. These compensation arrangements may have the potential to <br> influence the recommendations made by your registered representative or <br> broker-dealer. See "Distribution and Compensation Arrangements."<br> The Policy offers a choice of three Life Insurance Benefit Options. (See "Policy <br> Payment Information—Life Insurance Benefit Options.") The Life Insurance Benefit <br> Option you choose will affect the amount of your Policy's Target Premium through its <br> constituent Face Amount. As Target Premium affects the amount of compensation <br> received by your registered representative, your choice of Life Insurance Benefit <br> Option may have the potential to influence the recommendation made by your <br> registered representative or broker-dealer as to the Face Amount that will form part of <br> the Life Insurance Benefit Option you choose.<br> If your Policy includes a Supplementary Term Rider, the blend of base Policy life <br> insurance coverage and STR life insurance coverage affects the compensation paid <br> to your registered representative for selling you the Policy. Generally, agents receive <br> higher compensation for sales of the same Life Insurance Benefit through base Policy <br> coverage than for sales of STR coverage. This could influence your registered <br> representative's advice to you about the relative amounts of base Policy and term <br> insurance coverage you should purchase. See "Description of the Policy—Additional <br> Benefits Through Riders and Options" and "Distribution and Compensation <br> Arrangements."<br>|
| **Exchanges** | Some investment professionals may have a financial incentive to offer you a new <br> policy in place of one that you already own. You should only exchange your Corp <br> Exec VUL VI Policy if you determine, after comparing the features, fees, and risks or <br> both policies, that it is preferable for you to purchase the new policy rather than <br> continue to own your Corp Exec VUL VI Policy.<br> It may not be to your advantage to borrow money to purchase a Policy or to take <br> partial surrenders from another policy you own to make Premium payments under <br> this Corp Exec VUL VI Policy. See "Description of the Policy—Tax-Free <br> "Section 1035" Insurance Policy Exchanges."<br>|

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**Overview of the Policy**

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***1.*** ***What is the Purpose of the Policy?***

The Policy is offered by NYLIAC to individual executives and other employees to provide life insurance coverage for executives and other employees in a corporate-sponsored arrangement, as well as to fund employee benefit obligations. The Policy offers life insurance protection through a choice of Life Insurance Benefit options and a Supplementary Term Rider available under certain Policies, and provides for flexible Premiums, where you decide the timing and amount of each payment. It also provides the potential to accumulate Cash Value and gives you the ability to access the Policy's Cash Surrender Value through loans and partial surrenders. It also provides the potential to accumulate Cash Value in the early Policy Years as well as to complement traditional sources of retirement income in the later years. This Policy, like other variable life insurance policies, is designed to provide a Life Insurance Benefit or to help meet other long-term financial objectives and is generally unsuitable for use as a short-term savings vehicle. The Policy may not be used in Qualified Plans.

***2.*** ***What are the Premiums under the Policy?***

The Policy is a flexible Premium variable life insurance policy. "Flexible Premium" means that you may decide the timing and amount of each Premium payment. Premium payments are not required, except for payment of the initial Premium. As long as the Cash Surrender Value is sufficient to cover the Policy's Monthly Deduction Charges, you can increase, decrease, or stop making Premium payments to meet your needs. However, if your Policy is underfunded or the Eligible Portfolios you select have poor investment performance, you may forego the opportunity to build up significant Cash Value or your Policy may lapse. When a Policy lapses, it has no value, and no benefits are paid upon the death of the Insured. You may also lose the principal invested.

We may decline Premiums or require additional underwriting for Premiums that would increase your Policy's Life Insurance Benefit more than its Alternative Cash Surrender Value. You may not pay Premium in an amount that would jeopardize your Policy's status as a contract of life insurance under the IRC. See "Premiums," for more information about Premium payments. You may not make Premium payments after the Policy Anniversary on which the Insured is Attained Age 100, except to keep the Policy from lapsing.

If, on a Monthly Deduction Day, your Cash Surrender Value is less than the Monthly Deduction Charges, your Policy will continue until the expiration of the Late Period. This may happen even if all the Planned Premiums have been paid. During this period, you will have the opportunity to pay any Premium needed to cover any overdue charges. We will mail a notice to your last known address (as well as to the last known assignee, if any) stating this amount. We will mail these notices at least 31 days before the end of the Late Period. Your Policy will remain in effect during the Late Period. However, if we do not receive the required payment, postmarked by the end of the Late Period, we will terminate your Policy. See "Termination and Reinstatement—Late Period".

If your Policy has ended, you may Request that we reinstate your Policy (and any other benefits provided by riders in effect at the end of the Policy) as long as you send a Request for reinstatement within three years after your Policy is ended; the Insured is alive; and you have not surrendered your Policy for its full Cash Surrender Value or, if applicable, Alternative Cash Surrender Value. To reinstate the Policy, you must also make a payment sufficient to cover the Monthly Deduction Charges and any other Policy charges to keep the Policy in force for at least three months. This payment will be in lieu of the payment of all Premiums in arrears. You may want to consider paying additional Premium to protect against the impact of potential market fluctuations and performance-related risks on your Cash Value. If, at the time the Policy ended, an outstanding Policy loan was in effect, the Policy Debt at the time of lapse must also be repaid in full at the time of reinstatement. If the required payment is made within 31 days after the end of the Late Period, no proof of insurability is required. If the required payment is not made within 31 days after the end of the Late Period, a written application will be required and you must provide proof of insurability that is acceptable to us.

***3.*** ***How May Your Premiums be Allocated?***

You may allocate your Net Premiums to the Investment Divisions, each of which invests in an Eligible Portfolio, or to the Fixed Account. Generally, you may allocate your Net Premiums among up to 20 Eligible Portfolios at any one time and the Fixed Account. Certain policies associated with a nonqualified deferred compensation plan may permit allocation among up to 35 Eligible Portfolios and the Fixed Account; please contact us for more information. See

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"Description of the Policy—Investment Divisions and the Fixed Account" for more information about allocation of your Premiums and Cash Value and "Appendix—Eligible Portfolios Available Under the Policy" for a list of available Eligible Portfolios.

Each Eligible Portfolio has its own investment objective and investment strategy. The Eligible Portfolios available under the Policy span a broad range of asset classes and investment disciplines, including bond funds, equity funds, global bond and equity funds, target date funds, specialty funds, actively managed funds and index funds. For more information about the Eligible Portfolios, see the Appendix and the prospectuses for the Eligible Portfolios.

***4.*** ***What are the Primary Features of the Policy?***

***Three Life Insurance Benefit Options***

We designed the Policy to provide insurance protection for group or sponsored arrangements. The Policy provides permanent life insurance coverage with the potential for tax-deferred Cash Value accumulation. The Policy offers three different Life Insurance Benefit options that allow you to select the insurance plan that best meets your needs. These options allow you to determine how the Life Insurance Benefit will be calculated.

&nbsp;&nbsp;&nbsp;&nbsp;● Option 1—a Life Insurance Benefit equal to the greater of (a) the Face Amount of the Policy or (b) a percentage of the Alternative Cash Surrender Value equal to the minimum necessary for the Policy to qualify as life insurance under Section 7702 of the IRC.

&nbsp;&nbsp;&nbsp;&nbsp;● Option 2—a Life Insurance Benefit equal to the greater of (a) the Face Amount of the Policy plus the Alternative Cash Surrender Value, or (b) a percentage of the Alternative Cash Surrender Value equal to the minimum necessary for the Policy to qualify as life insurance under Section 7702 of the IRC.

&nbsp;&nbsp;&nbsp;&nbsp;● Option 3—a Life Insurance Benefit equal to the greater of (a) the Face Amount of the Policy plus the Cumulative Premium Amount or (b) a percentage of the Alternative Cash Surrender Value, equal to the minimum necessary for the Policy to qualify as life insurance under Section 7702 of the IRC.

If the Insured dies on or after the Policy Anniversary on which the Insured's Attained Age is 100, the Life Insurance Benefit will equal the Alternative Cash Surrender Value less any Policy Debt. There is no minimum Life Insurance Proceeds guarantee associated with the Policy.

***Change the Amount of Coverage***

After the first Policy Year, you may request an increase or decrease in the Policy's Face Amount. The Face Amount of your Policy affects the Life Insurance Benefit to be paid. Increases in the Face Amount are subject to underwriting and our approval. They will result in additional Cost of Insurance charges and may affect the Policy's modified endowment contract status. Please see "Federal income Tax Considerations—Modified Endowment Contract Status," for more information on how a change in Face Amount may require a new determination as to whether your Policy is a modified endowment contract or otherwise affect the MEC status of your Policy. Under certain circumstances, it may be advantageous to increase the Term Insurance Benefit rather than increasing the Face Amount under your Policy.

***Cash Value***

The Cash Value of the Policy is based on the number of Accumulation Units held in each Investment Division for the Policy; plus any amount in the Fixed Account and the Loan Account. The Cash Value varies due to performance of the Investment Divisions selected and the interest credited to the Fixed Account, outstanding loans (including loan interest and any interest credited to the Loan Account), any charges we deduct and Premium payments. With the Policy, you have the potential for higher rates of return and Cash Value accumulation than with a fixed rate life insurance policy.

We will pay you either the Cash Surrender Value or the ACSV (less any outstanding Policy Debt) if you surrender your Policy. The Cash Surrender Value is equal to the Cash Value less Policy Debt. The ACSV is equal to the Cash Value of the Policy plus the value of the DPL Account. You are eligible to receive the ACSV, provided the Policy has not been assigned, and, in most circumstances, if the owner has not been changed. If you are not eligible for the ACSV, we will pay you the Cash Surrender Value.

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***Flexible Premium Payments***

Policy Premium payments are flexible; you can select the timing and amount of Premium you pay, within limits. Other than the initial minimum Premium payment, there are no required Premiums. As long as the Cash Surrender Value is sufficient to cover the Policy's monthly deductions, you can increase, decrease, or stop making Premium payments to meet your needs.

***Liquidity through Partial Surrenders and Loans***

You may withdraw an amount up to the Cash Surrender Value of your Policy, within limits. Partial surrenders will reduce the Policy's Cash Value, the Cash Surrender Value, the Alternative Cash Surrender Value, if applicable, and the Cumulative Premium Amount, and may reduce your Life Insurance Benefit. In addition, if a partial surrender would cause the Policy's Cash Value or Face Amount to drop below our minimum amount, we reserve the right to require a full surrender. A charge may be assessed on the partial surrender. Partial surrenders may result in a taxable event. You should consult with a tax advisor before taking a partial surrender. Please see "Federal Income Tax Considerations—Modified Endowment Contract Status" and "—Policy Surrenders and Partial Surrenders," for additional information regarding potential tax implications. Partial surrender Requests must be made to our Service Office and must be in Good Order. (See "Surrenders—Partial Surrenders".)

Using the Policy as sole security, you may also borrow any amount up to the Loan Value of the Policy. (See "Loans" for more information.)

***Allocation Alternatives***

After we deduct the sales expense charge and the State and Federal Premium Tax charges from your Premium, you may allocate the remaining amount among up to 20 Investment Divisions at any one time, as well as the Fixed Account. Certain Policies may permit allocation among up to 35 Investment Divisions and the Fixed Account at any one time; please contact us for more information. The Allocation Alternatives consist of Investment Divisions and the Fixed Account. You can change Allocation Alternatives while your Policy is in force. See "Appendix—Eligible Portfolios Available Under the Policy" for a listing and information about the Eligible Portfolios.

***Automated Investment Features***

There are two administrative features available to help you manage the Policy's Cash Value and to adjust the investment allocation to suit changing needs. These features are: Automatic Asset Reallocation and Dollar Cost Averaging. Please see "Description of the Policy—Additional Benefits Through Options Available At No Additional Charge" for complete information.

***Additional Benefits Through Riders***

The Policy offers additional insurance coverage and other benefits through the Supplementary Term Rider. This rider has a cost associated with it.

***A Highly Rated Company***

NYLIAC is a subsidiary of New York Life Insurance Company ("NYLIC"). NYLIC has 180 years of experience in the offering of insurance products. NYLIAC is a highly-rated insurer. Ratings reflect only NYLIAC's General Account, which are applicable to the Fixed Account. Ratings are not applicable to the Investment Divisions, which are not guaranteed. NYLIAC's obligations under the Policy are subject to its claims-paying ability and financial strength and are not backed or guaranteed by NYLIC.

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**Table of Fees and Expenses**

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**The following tables describe the fees and expenses that you will pay when buying, owning, and surrendering (either full or partial surrenders) from the Policy. Please refer to your Policy Data Pages for information about the specific fees you will pay each year based on the options you have selected.**

**This first table describes the fees and expenses that you will pay when you purchase the Policy, make a Premium payment, surrender the Policy, take a partial surrender, or transfer Cash Value among Allocation Alternatives.** 

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| | | |
|:---|:---|:---|
| **Transaction Fees** | **Transaction Fees** | **Transaction Fees** |
| **Charge** | **When Charge Is Deducted** | **Amount Deducted** |
| Sales Expense Charge for Premiums <br> paid up to the Target Premium<br>| When Premium payment is applied <br> up to Attained Age 100<br>| **<u>Guaranteed Maximum</u>: 15.75% of** <br> **Premiums paid**<sup>1</sup> <br>**<u>Current</u>: 14.00% of Premiums** <br> **paid**<sup>2</sup> <br>|
| Sales Expense Charge for Premiums <br> paid over the Target Premium<br>| When Premium payment is applied <br> up to Attained Age 100<br>| **<u>Guaranteed Maximum</u>: 3.00% of** <br> **Premiums paid**<br> **<u>Current</u>: 2.00% of Premiums paid**<sup>3</sup> <br>|
| State Premium Tax Charge for <br> Premiums paid up to the Target <br> Premium<br>| When Premium payment is applied <br> up to Attained Age 100<br>| **All taxes may vary over time.**<br> **<u>Guaranteed Maximum</u>: 2.00% of** <br> **Premiums paid, subject to tax law** <br> **changes**<br> **<u>Current</u>: 2.00% of Premiums paid**<sup>4</sup> <br>|
| State Premium Tax Charge for <br> Premiums paid over the Target <br> Premium<br>| When Premium payment is applied <br> up to Attained Age 100<br>| **All taxes may vary over time.**<br> **<u>Guaranteed Maximum</u>: 2.00% of** <br> **Premiums paid, subject to tax law** <br> **changes**<br> **<u>Current</u>: 1.75% of Premiums paid**<sup>4</sup> <br>|
| Federal Premium Tax Charge | When Premium payment is applied <br> up to Attained Age 100<br>| **All taxes may vary over time.**<br> **<u>Guaranteed Maximum</u>: 1.25% of** <br> **Premiums paid, subject to tax law** <br> **changes**<br> **<u>Current</u>: 1.25% of Premiums paid**<sup>5</sup> <br>|
| Fund Transfer Charge | At time of transfer | **<u>Guaranteed Maximum</u>: $30 per** <br> **transfer after 12 transfers in a** <br> **Policy Year**<br> **<u>Current</u>: No charge**<br>|
| Partial Surrender Processing Fee | At the time of partial surrender | **<u>Guaranteed Maximum</u>: $25**<br> **<u>Current</u>: $0**<br>|
| Charge for Returned Payment | At the time of the transaction | **<u>Guaranteed Maximum</u>: $20**<br> **<u>Current</u>: $0**<br>|

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<sup>1</sup>

Guaranteed maximum sales expense charges for Premium payments made up to the Target Premium are reduced to 11.75% in Policy Years 2-7; and 5.00% in Policy Years 8 and beyond.

<sup>2</sup>

Current sales expense charges for Premium payments made up to the Target Premium are reduced to 10.00% in Policy Years 2-5; 1.75% in Policy Years 6-7; and 0.00% in Policy Years 8 and beyond.

<sup>3</sup>

Current sales expense charges for Premium payments made over the Target Premium are 2.00% in Years 1-7 and 0.00% in Years 8 and beyond.

<sup>4</sup>

Current state Premium tax charges for Premium payments are reduced to 1.50% in Policy Years 8 and beyond.

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<sup>5</sup>

Current federal Premium tax charges for Premium payments are reduced to 1.00% in Policy Years 8 and beyond.

**The table below describes the fees and expenses that you will pay periodically during the time that you own the Policy, not including the Eligible Portfolios' fees and expenses.** 

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| | | |
|:---|:---|:---|
| **Periodic Charges Other Than Funds' Operating Expenses** | **Periodic Charges Other Than Funds' Operating Expenses** | **Periodic Charges Other Than Funds' Operating Expenses** |
| **Charge** | **When Charge Is Deducted** | **Amount Deducted** |
| Cost of Insurance Charge<sup>1,2</sup> <br>| Each Monthly Deduction Day until <br> Attained Age 100<br>| **<u>Guaranteed Maximum</u>: $83.33 per** <br> **$1,000 of Net Amount at Risk**<sup>3</sup> <br>**<u>Guaranteed Minimum</u>: $0.04 per** <br> **$1,000 of Net Amount at Risk**<br> **<u>Guaranteed Maximum Charge for</u>** <br> **<u>Representative Insured (Male, Age</u>** <br> **<u>45, Non-Smoker, Guaranteed</u>** <br> **<u>Issue) in first Policy Year</u>: $0.22** <br> **per $1,000 of Net Amount at Risk.**<br> **<u>Current Charge for Representative</u>** <br> **<u>Insured (Male, Age 45,</u>** <br> **<u>Non-Smoker, Guaranteed Issue)</u>:** <br> **$0.054 per $1,000 of Net Amount at** <br> **Risk**<br>|
| Contract Charge | Each Monthly Deduction Day | **<u>Guaranteed Maximum</u>: $11.00**<br> **<u>Current</u>: $0.00 Policy Year 1, $5.00** <br> **thereafter**<br>|
| Mortality and Expense Risk Charge <br> as a % of Accumulation Value<br>| Each Monthly Deduction Day | **<u>Guaranteed Maximum</u>: An annual** <br> **rate of 0.90% of the average daily** <br> **Accumulation Value**<br> **<u>Current</u>: An annual rate of 0.25%** <br> **in Policy Year 1, 0.45% in Policy** <br> **Years 2-10 and 0.25% thereafter of** <br> **the Accumulation Value**<sup>4</sup> <br>|
| Loan Interest | Monthly while loan balance is <br> outstanding<br>| **<u>Guaranteed Maximum</u>: 6.00% per** <br> **year**<br> **<u>Current</u>: 4.00% per year**<br>|
| **<u>Rider Charge</u>** |  |  |
| Supplementary Term Rider<sup>1</sup> <br>| Each Monthly Deduction Day until <br> the rider expires<br>| **<u>Guaranteed Maximum</u>: $83.33 per** <br> **$1,000 of Term Insurance Benefit.**<br> **<u>Guaranteed Minimum</u>: $0.04 per** <br> **$1,000 of Term Insurance Benefit.**<br> **<u>Current Charge for Representative</u>** <br> **<u>Insured (Male, Age 45,</u>** <br> **<u>Non-Smoker, Guaranteed Issue)</u>:** <br> **$0.024 per $1,000 of Term** <br> **Insurance Benefit**<br>|

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<sup>1</sup>

This charge varies based on characteristics of the Insured and the charge shown may not be representative of the charge you will pay. This charge may also vary based upon the state in which your Policy is issued. (For more information about state variations, please see "State Variations".) To obtain more information about particular cost of insurance and other charges as they apply to your Policy, please contact your registered representative.

<sup>2</sup>

The Cost of Insurance Charge shown here does not reflect any applicable Flat Extras charge, which we may impose based on our underwriting. Even if a Flat Extra is imposed, your Cost of Insurance Charge will never exceed the Maximum Charge stated in the table above. For more information about Flat Extras, see "Definition—Flat Extras" and "Charges Associated with

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the Policy—Deductions from Cash Value—Cost of Insurance Charge."

<sup>3</sup>

"Net Amount at Risk" is equal to the number of thousands of Life Insurance Benefit divided by 1.0032737 minus the number of thousands of the Policy's Alternative Cash Surrender Value (before the Cost of Insurance charge, but after the Mortality and Expense Risk Charge, the Monthly Contract Charge and any charges for riders are deducted). See "Policy Payment Information—Life Insurance Benefit Options" for more information.

<sup>4</sup>

We may increase or decrease the current Mortality and Expense Risk Charge if the mortality risk profile of policyowners changes, or if a change in law, regulation, or administrative interpretation thereof affects our cost of doing business including, without limitation, a change that eliminates a tax benefit or deduction that increases our after-tax cost of doing business, or if our costs of doing business change for any other reason. We will notify policyowners at least 30 days before the change by prospectus supplement and letter.

***Annual Eligible Portfolio Expenses***

**The next table shows the minimum and maximum total operating expenses deducted from the Eligible Portfolios' assets during the year ended December 31, 2025. Eligible Portfolio expenses may change from year to year, and hence, may be higher or lower in the future. You may pay these expenses periodically during the time that you own the Policy. A complete list of the Eligible Portfolios available under the Policy, including information concerning each Portfolio's annual fees and expenses, is contained in an Appendix at the back of this prospectus.** 

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| | | |
|:---|:---|:---|
| **Annual Eligible Portfolio Expenses**<sup>1</sup> | **Minimum** | **Maximum** |
| Before fee waivers and expense reimbursements<sup>2</sup> | 0.09% | 2.475% |
| After fee waivers and expense reimbursements | 0.09% | 2.475% |

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<sup>1</sup>

Expenses that are deducted from Eligible Portfolio assets, including management fees, distribution (12b-1) fees, and other expenses. Expressed as a percentage of average net assets for the fiscal year ended December 31, 2025. The information is based on 2025 expenses, and it may reflect estimated charges.

<sup>2</sup>

Fee waivers and expense reimbursements are generally expected to continue through April 30, 2026 and may be terminated at any time at the option of the Fund.

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**Summary of Principal Risks of Investment In the Policy**

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The following is a brief summary of the principal risks of investing in the Policy. Both the benefits and risks of investing in the Policy should be considered before making additional Premium payments. More complete and detailed information about the features of the Policy is provided in this Prospectus and in the SAI.

***Investment Risk***

While a variable policy has the potential for a higher rate of return than a fixed rate policy, investment returns on the assets in the Separate Account may be negative and the Cash Value may decline in value, and you can lose principal. Each Investment Division has its own investment objective and investment strategy. The performance of each will vary, and some Investment Divisions are riskier than others. We do not guarantee the investment performance of the Investment Divisions. You bear the entire investment risk for all amounts allocated to the Investment Divisions. Your Premium and Cash Value allocation choices should be consistent with your investment objective and your risk tolerance.

***Not a Short-Term Investment***

A variable life insurance policy is designed to provide a Life Insurance Benefit or to help meet other long-term financial objectives. Substantial fees, expenses, and tax implications make variable life insurance unsuitable as a short-term savings vehicle. Additionally, the Policy may limit your ability to withdraw a portion of the Cash Value through partial surrenders or loans. See "Summary of Principal Risks of Investment in the Policy—Investment Risk," "Loans," and "Surrenders—Partial Surrenders—Amount Available for a Partial Surrender."

***Portfolio Risks***

The Investment Divisions involve the risk of poor investment performance. A discussion of the risks of allocating Cash Value to one or more of the Investment Divisions can be found in the corresponding Eligible Portfolio's prospectus, which is available at https://dfinview.com/NewYorkLife/TAHD/corpexec-vi.

***Risk of Termination***

The Policy does not automatically terminate, even if the policyowner does not pay the Planned Premiums. **Payment of these Premiums, however, does not guarantee the Policy will remain in force**. Your Policy can lapse even if you pay all of the Planned Premiums on time. When a Policy lapses, it has no value, and no benefits are paid upon the death of the Insured. Your Policy involves risks, including the potential risk of loss of the principal invested. Note that "termination" and "lapse" have the same meaning and effect throughout this Prospectus.

A Policy that has a Cash Surrender Value just sufficient to cover Monthly Deduction Charges and other deductions and charges, or that is otherwise minimally funded, is less likely to maintain its Cash Surrender Value due to market fluctuations and other performance-related risks. To continue to keep your Policy in force, Premium payments significantly higher than the Planned Premiums may be required. In addition, by paying only the minimum Premium required to keep the Policy in force, you may forego the opportunity to build up significant Cash Value in the Policy. When determining the amount of your Planned Premium payments, you should consider funding your Policy at a level that has the potential to maximize the investment opportunities within your Policy and to minimize the risks associated with market fluctuations.

Depending on the timing and degree of fluctuations in investment returns (and the charges we impose), the Cash Surrender Value will also fluctuate. A lower Cash Surrender Value, under certain circumstances, could result in the lapse of the Policy unless the policyowner makes additional Premium payments to keep the Policy in force. The Policy terminates only when and if the Cash Surrender Value is insufficient to pay the Monthly Deduction Charges deducted on each Monthly Deduction Day.

If, on a Monthly Deduction Day, the Cash Surrender Value is less than the Monthly Deduction Charges for the next Policy Month, the Policy will go into pre-lapse status. The Policy will continue for a period of 62 days after that Monthly Deduction Day (the "Late Period"), even if all Planned Premiums have been paid. If we do not receive a Premium sufficient to take the Policy out of pre-lapse status before the end of the Late Period, the Policy will lapse and terminate, and no Cash Value or Life Insurance Proceeds will be payable.

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We will mail a notice to the policyowner at its last known address, and a copy to the last known assignee in our records, if applicable, at least 31 days before the end of the Late Period, requesting payment of the additional Premium amount necessary to keep the Policy in force. You should consider paying more Premium than requested when making this payment, given the potential impact of market fluctuations and performance-related risk on your Cash Value. During the Late Period, the Policy remains in force. If the Insured dies during the Late Period, we will pay the Life Insurance Proceeds. However, these proceeds will be reduced by the amount of any Policy Debt and the amount of any unpaid Monthly Deduction Charges from the beginning of the Late Period through the Policy Month in which the Insured dies.

There will be no more benefits under the Policy once it terminates. However, a policyowner can apply to reinstate the Policy (and the STR, if elected when the Policy was first purchased) under certain circumstances. See "Termination and Reinstatement—Reinstatement Option."

***Risk of Termination from Policy Loans***

The larger a Policy loan becomes relative to the Policy's Cash Value, the greater the risk that the Policy's Cash Surrender Value will not be sufficient to support the Policy's charges and expenses, including any loan interest payable, and the greater the risk of the Policy lapsing. Any loan interest due on a Policy Anniversary that you do not pay will become part of the Policy Debt and will also accrue interest. In addition, if the Policy Debt ever exceeds the Cash Value, we will send a notice to you at your last known address, and a copy to the last known assignee on our records. All insurance coverage will end 31 days after the date on which we mail that notice to you if the excess of the Policy Debt over the Cash Value is not paid within that 31-day period.

A loan, repaid or not, has a permanent effect on your Cash Value. The effect could be favorable if the Investment Divisions earn less than the Loan Account crediting rate, or unfavorable, if the Investment Divisions earn more. The longer a loan is outstanding, the greater the potential effect on your Cash Value. If it is not repaid, the aggregate amount of the outstanding loan principal and any accrued interest will reduce the Life Insurance Proceeds that might otherwise be paid.

Unless your Policy qualifies as a modified endowment contract, Policy loans are not taxable. See "Federal Income Tax Considerations—Modified Endowment Contract Status." If a Policy is a modified endowment contract, a Policy loan may result in taxable income and tax penalties to you. In addition, if the Policy Debt plus Cash Surrender Value exceeds the Cumulative Premium Amount, a Policy surrender or lapse will generally result in a taxable event to you.

***Supplementary Term Rider Risks***

The section of this Prospectus entitled "Description of the Policy—Additional Benefits Through Riders and Options" describes the Supplementary Term Rider and a number of factors you should consider in deciding whether to purchase a Policy that includes Life Insurance Benefit coverage in conjunction with the STR.

Among other things, the current Cost of Insurance charges are different under base Policy coverage than under the STR. In general, these rates are lower for coverage provided under the STR than for coverage provided under the base Policy for the first six to eight Policy Years. However, beginning in Policy Years seven through nine, the cost of insurance rates under the STR usually are higher than the Cost of Insurance charges under the base Policy. If, during the life of the Policy, your Cash Value is at a low level either because your overall funding has been low or your actual investment experience has been poor, the negative impact of the higher Cost of Insurance charges on the Cash Value will be greater. Therefore, the lower the Premiums paid and/or the worse the actual investment experience, the greater possibility that a Policy with the STR will not perform as well as a Policy with base coverage only.

Generally, agents receive higher compensation for sales of the same Life Insurance Benefit through base Policy coverage than for sales of STR coverage. These compensation arrangements have the potential to influence the recommendations made by your registered representative or broker-dealer.

You should review several illustrations with various combinations of base Policy and STR coverage using a variety of rates of return. Your choice as to how much term coverage you should elect should be based on your individual plans with respect to Premium amounts, level of risk tolerance, and the time you plan to hold the Policy. Please ask your registered representative to review your various options. For more information on compensation of your registered representatives and broker-dealers, see the "Distribution and Compensation Arrangements". For more information on the STR, see "Description of the Policy—Additional Benefits through Riders and Options."

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***Tax Risks***

The section of this Prospectus entitled "Federal Income Tax Considerations" describes a number of tax issues that may arise in connection with the Policy. These risks include: (1) the possibility that the IRS may interpret the rules that apply to VUL insurance contracts in a manner that could result in you being treated as the owner of your Policy's pro-rata portion of the assets of the Separate Account; (2) the possibility that the IRS may take the position that the Policy does not qualify as life insurance for tax purposes; (3) the possibility that, as a result of policy transactions, including the payment of premiums or increases or decreases in Policy benefits, the Policy may be treated as a modified endowment contract for federal income tax purposes, with special rules that apply to Policy distributions, including loans; (4) in general, the possibility that the Policy may not qualify as life insurance under the IRC after the Insured's Attained Age becomes 100 and the owner may be subject to adverse tax consequences at that time; (5) whether and to what extent the Life Insurance Benefit may be received on a tax-free basis in the case of employer-owned life insurance contracts; and (6) the possibility that the IRS may treat a loan as a taxable distribution if there is no spread, or a very small spread, between the interest rate charged on the loan and the interest rate credited on the loaned amount. In addition, Congress may change the present federal income tax laws that apply to your Policy, or the IRS may change current interpretations thereof, which change may occur without notice, and could have retroactive effects, regardless of the date of enactment or publication, as the case may be.

***Potential for Increased Charges***

We have the right to increase the charges we deduct at any time up to the guaranteed maximum charges specified in the fee table. In addition, we may increase the amount we deduct to conform to changes in the law relating to Federal and State Premium tax charges. (See "Table of Fees and Expenses" and "Charges Associated with the Policy" for more information.)

***Potentially Harmful Transfer Activity***

This Policy is not designed as a vehicle for market timing. Accordingly, your ability to make transfers under the Policy is subject to limitation if we determine, in our sole opinion, that the exercise of that privilege may disadvantage or potentially hurt the rights or interests of other policyowners. We have limitations and restrictions on transfer activity. (See "Description of the Policy—Limits on Transfers" for more information.) Generally, we require that all transfer Requests be submitted through the U.S. Mail or an overnight carrier. However, we may permit, in certain limited circumstances, transfer Requests to be submitted by fax transmission. We cannot guarantee that these limitations and restrictions will be effective in detecting and preventing all transfer activity that could potentially disadvantage or hurt the rights or interests of other policyowners. Potentially harmful transfer activity could result in reduced performance results for one or more Investment Divisions, due to among other things:

&nbsp;&nbsp;&nbsp;&nbsp;● Portfolio management decisions driven by the need to maintain higher than normal liquidity or the inability to sustain an investment objective;

&nbsp;&nbsp;&nbsp;&nbsp;● Increased administrative and Fund brokerage expenses; and/or

&nbsp;&nbsp;&nbsp;&nbsp;● Dilution of the interests of long-term investors.

An Eligible Portfolio may reject any order from us if it suspects potentially harmful transfer activity, thereby preventing us from implementing your Request for a transfer. (See "Description of the Policy—Limits on Transfers" for more information on the risks of frequent trading.)

***Credit Risk***

NYLIAC's obligations under the Policy are subject to its claims-paying ability and financial strength, and are not backed or guaranteed by NYLIC. NYLIAC has received the following ratings: A++ (Superior) from A.M. Best; AAA (Exceptionally Strong) from Fitch; Aa1 (High Quality, with Minimal Risk) from Moody's; and AA+ (Very Strong) from Standard and Poor's. More information about NYLIAC, including its claims-paying and financial strength ratings, is available upon request by contacting our Service Office at (888) 695-4748, faxing us at (913) 906-4129 or emailing us at NYLAMN_Service@newyorklife.com.

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***Risks Affecting our Administration of Your Policy***

NYLIAC's business activity and operations, and/or the activities and operations of our service providers and business partners, are subject to certain risks, including those resulting from information systems failures, cyber-attack/ransomware, or current or future outbreaks of infectious diseases, viruses (including COVID-19), epidemics, or pandemics ("serious infectious disease outbreaks"). These risks are common to all insurers and financial service providers and may materially impact our ability to administer the Policy (and to keep policyowner information confidential). (See "Management and Organization—Information Systems Failures and Cybersecurity Risks" for more information on systems failures and cybersecurity risks and "Management and Organization—Risks from Serious Infectious Disease Outbreaks" for more information on risks from serious infectious disease outbreaks.)

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**Management and Organization**

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**INSURER** <br>New York Life Insurance and Annuity Corporation <br>(a wholly owned subsidiary of NYLIC) <br>51 Madison Avenue <br>New York, NY 10010

***Your Policy***

The Policy is offered by NYLIAC. Policy assets are invested in the NYLIAC Corporate Sponsored Variable Universal Life Separate Account-I (the "Separate Account"), which has been in existence since May 24, 1996, or the Fixed Account.

The Policies are variable. This means that the Cash Value allocated to the Separate Account will fluctuate based on the investment experience of the Investment Divisions you select. The interest credited on the money allocated to the Fixed Account and the DPL Account may also vary. NYLIAC does not guarantee the investment performance of the Separate Account or of the Eligible Portfolios. You bear the entire investment risk with respect to amounts allocated to the Investment Divisions of the Separate Account. Each Investment Division has its own investment objective and investment strategy. As a consequence, some Investment Divisions are riskier than others. We offer no assurance that the investment objectives of the Investment Divisions will be achieved. Accordingly, amounts allocated to the Investment Divisions of the Separate Account are subject to the risks inherent in the securities markets and, specifically, to price fluctuations in the Eligible Portfolios' investments.

The income, gains, and losses credited to, or charged against, the Separate Account reflect its own investment experience, and not that of NYLIAC's other assets. It is important to note that the Policy's assets may be used to pay only those NYLIAC liabilities that arise from the Policies. NYLIAC is obligated to pay all amounts promised to policyowners under the Policies.

Certain provisions of the Policies may differ from the general description in this prospectus; certain options or the STR may not be available because of legal requirements or restrictions in the state in which your Policy is delivered. The material state variations are described in the "State Variations" section below. All state variations will be included in your Policy, or in riders or endorsements attached to your Policy. Please contact your registered representative or us for specific information that may be applicable to your state. (See "State Variations" for details.)

***About the Separate Account***

The Separate Account is a segregated asset account that NYLIAC established to receive and invest your Net Premiums. Although the assets of the Separate Account belong to NYLIAC, these assets are held separately from the other assets of NYLIAC, and under applicable insurance law, cannot be charged for liabilities incurred in any other business operations of NYLIAC (except to the extent that assets in the Separate Account exceed the reserves and other liabilities of the Separate Account). These assets are not subject to the claims of our general creditors. The income, capital gains, and capital losses incurred on the assets of the Separate Account are credited to or are charged against the assets of the Separate Account without regard to income, capital gains, and capital losses arising out of any other business NYLIAC may conduct. Therefore, the investment performance of the Separate Account is entirely independent of the investment performance of NYLIAC's Fixed Account and the performance of any other separate account of NYLIAC.

Generally, you may invest your Net Premiums in a total of up to 20 Investment Divisions, as well as the Fixed Account, at any one time. Certain Policies associated with a nonqualified deferred compensation plan may permit allocation in a total of up to 35 Investment Divisions and the Fixed Account; contact us for more information. Premium payments allocated to the Investment Divisions are invested exclusively in the corresponding Eligible Portfolios of the Funds. While the Policy is in force, you may transfer assets between Investment Divisions.

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***Our Rights***

We may take certain actions relating to our operations and the operations of the Separate Account. We will take these actions in accordance with applicable laws, including obtaining any required approval of the SEC and any other required regulatory approvals. If necessary, we will seek approval of our policyowners.

Specifically, we reserve the right to:

&nbsp;&nbsp;&nbsp;&nbsp;● add, close, substitute, or remove any Investment Division or, at the direction of a Fund, change the name or investment objective of any Investment Division (and the shares of an associated Eligible Portfolio);

&nbsp;&nbsp;&nbsp;&nbsp;● create new separate accounts;

&nbsp;&nbsp;&nbsp;&nbsp;● combine the Separate Account with one or more other separate accounts;

&nbsp;&nbsp;&nbsp;&nbsp;● operate the Separate Account as a management investment company under the 1940 Act or in any other form permitted by law;

&nbsp;&nbsp;&nbsp;&nbsp;● deregister the Separate Account under the 1940 Act;

&nbsp;&nbsp;&nbsp;&nbsp;● manage the Separate Account under the direction of a committee or discharge such committee at any time;

&nbsp;&nbsp;&nbsp;&nbsp;● transfer the assets of the Separate Account to one or more other separate accounts;

&nbsp;&nbsp;&nbsp;&nbsp;● restrict transfers among and between investment divisions of the Separate Account and from the Fixed Account to the Investment Divisions;

&nbsp;&nbsp;&nbsp;&nbsp;● restrict or eliminate any of the voting rights of policyowners or other persons who have voting rights as to the Separate Account, in accordance with applicable law;

&nbsp;&nbsp;&nbsp;&nbsp;● change the amount of any minimum or maximum investments or additional investments; and

&nbsp;&nbsp;&nbsp;&nbsp;● change the name of the Separate Account.

We may remove an Investment Division if the shares of an Eligible Portfolio are no longer available for investment or if we, in our sole discretion, decide that investment in an Eligible Portfolio is inappropriate given the purposes of the Separate Account. A new Eligible Portfolio may have higher fees and charges than the one it replaces. We will not substitute shares attributable to your interest in an Investment Division until you have been notified of the change, as required by the 1940 Act and we have obtained any necessary regulatory approvals. We may also add new Investment Divisions and/or close one or more Investment Divisions when marketing, tax, investment, or other conditions make it appropriate. We may decide whether or not the new Investment Divisions should be made available to existing policyowners. If we make a substitution or change to the Investment Divisions, we may change your Policy to reflect such substitution or change. We will not transfer any amounts invested in an Investment Division without the policyowner's instructions, except as permitted by law.

***The Fixed Account***

The Fixed Account is supported by the assets in our General Account, which includes all of our assets except those assets specifically allocated to our various separate accounts. The Fixed Account, including the Guaranteed Minimum Interest Rate and any portion of the Life Insurance Benefits paid from the General Account, are subject to our claims-paying ability and financial strength. These assets are subject to the claims of our general creditors. We can invest the assets of the Fixed Account however we choose, within limits. Your interest in the Fixed Account is not registered under the 1933 Act and the Fixed Account is not registered as an investment company under the 1940 Act. Therefore, generally you do not have the benefits and protections of these statutes for amounts allocated to the Fixed Account. Disclosures regarding the Fixed Account, however, are subject to certain generally applicable provisions of the federal securities laws relating to the accuracy and completeness of statements made in a prospectus.

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***Interest Crediting***

Any amount in the Fixed Account is credited with interest using a fixed interest rate, which we will declare periodically in advance. For policies issued before May 1, 2012, this rate will never be less than 3% per year. For policies issued on or after May 1, 2012, this rate will never be less than 1% per year.

Interest accrues and is credited daily and is credited on each Monthly Deduction Day. All Net Premiums applied to, and amounts transferred to, less amounts withdrawn, transferred from, or charged against the Fixed Account receive the rate in effect at that time.

***How to Reach Us for Policy Services***

You may reach us at our Service Office, or if permitted, by telephone at (888) 695-4748, or electronically to NYLAMN_Service@newyorklife.com.

All Requests for Policy service must be in Good Order. Please review all service Request forms carefully and provide all required information as applicable to the Policy transaction. If your Request is not in Good Order, we will make every reasonable attempt to notify you in writing. It is important that you inform NYLIAC of an address change so that you can receive important statements.

Faxed or emailed Requests may be acceptable for a limited number of Policy transactions.

***Information Systems Failures and Cybersecurity Risks***

We rely on technology, including digital communications and data storage networks and systems, to conduct our variable product business activities. Because our business, including our variable product business, is highly dependent upon the effective operation of our computer systems and those of our service providers and business partners, our business is vulnerable to disruptions from utility outages and susceptible to operational and information security risks resulting from information system failures and cyber-attacks, including ransomware. These risks also apply to other insurance and financial services companies and businesses. These risks include, among other things, the theft, misuse, corruption and destruction of data maintained online or digitally, interference with or denial of service, attacks on websites and other operational disruption, and unauthorized use, abuse, and/or release of confidential customer (including policyowner and Insured) information. We have established administrative and technical controls and cybersecurity plans, including a business continuity plan, to identify, prevent and protect our operations against systems failures and cybersecurity breaches, including ransomware. Despite these controls and plans, systems failures, and cyber-attacks affecting NYLIC, NYLIAC, or any of their affiliates and other affiliated or unaffiliated third-party administrators, underlying funds, intermediaries, and other service providers and business partners may have a material, negative impact on us and your Policy Cash Value. For instance, systems failures and cyber-attacks may (i) interfere with our processing of Policy transactions (including surrenders, partial surrenders, loans, and transfers) or with the underlying Funds or cause other operational issues; (ii) impact our ability to calculate Accumulation Unit values and your Policy's Cash Values; (iii) cause the release, loss, and/or possible destruction of confidential customer or business information; and/or (iv) subject us and/or our service providers, business partners, and intermediaries to regulatory fines, litigation, and financial losses and/or cause us reputational damage. Systems failures and cybersecurity breaches may also impact the issuers of securities in which the underlying funds invest, which may cause the funds underlying your Policy to lose value. There can be no assurance that we, or the underlying funds, or our service providers and business partners, will be able to avoid these risks at all times or avoid losses affecting your Policy due to information systems failures or cyber-attacks.

***Risks From Serious Infectious Disease Outbreaks***

Our ability to administer your Policy is subject to certain risks—common to all insurers and financial service providers—that could result from current or future outbreaks of infectious diseases, viruses (including COVID-19), epidemics, or pandemics ("serious infectious disease outbreaks"). Serious infectious diseases may spread rapidly. Serious infectious disease outbreaks—and general concerns about the course and effects of such outbreaks—not only raise serious health concerns, but may significantly disrupt economic activity in the U.S. and globally. The effects of a serious infectious disease outbreak may be short-term or last for extended time periods.

Our business activity and operations, and/or the activities and operations of our service providers and business partners, could be adversely affected or interrupted by serious infectious disease outbreaks. In order to mitigate the

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possible effects of these types of events, NYLIAC has established business continuity and disaster recovery plans. These plans may, for example, require our employees to work and access our information technology, communications, or other systems remotely. Notwithstanding these plans, a serious infectious disease outbreak and public health measures taken by government officials to combat an outbreak—may have a material, adverse effect on us, our ability to administer your Policy, and your Policy Cash Value. For example, a serious infectious disease outbreak or public health measures implemented to combat it may adversely affect our business and operations by (i) interfering with our processing of Policy transactions (including full surrenders, partial surrenders, loans, and transfers) and the processing of orders from online service requests at www.newyorklife.com or with the underlying funds or cause other operational issues; (ii) delaying or interrupting our receipt of pricing or other services provided by third parties, thereby affecting, among other things our ability to calculate Accumulation Unit values and Policy cash values or to administer Policy transactions dependent on systems and services provided by third parties; (iii) preventing our workforce from being able to be physically present at one or more of our worksites or from traveling to alternative worksites needed to implement our business continuity and disaster recovery plans, thereby resulting in lengthy interruptions of service; or (iv) subjecting us and/or our service providers, business partners, and intermediaries to regulatory fines, litigation, financial losses, and/or cause us reputational damage. In addition, our operations require experienced professional staff. Loss of a substantial number of such persons or an inability to provide properly equipped places for them to work may disrupt our operations and adversely affect our business. Serious infectious disease outbreaks may also affect the issuers of securities in which the underlying funds invest, which may cause the funds underlying your Policy Cash Value to decrease in value. Serious infectious disease outbreaks may also affect market interest rates, which may affect the interest crediting rates we may declare on the Fixed Account under your Policy (subject to the GMIR). There can be no assurance that we, the Eligible Portfolios, the companies in which they invest, or our services providers and business partners will be able to avoid these risks at all times or avoid losses affecting your Policy due to serious infectious disease outbreaks.

***Funds and Eligible Portfolios***

The assets of each Eligible Portfolio are separate from the others and each such Eligible Portfolio has different investment objectives and policies. As a result, each Eligible Portfolio operates as a separate investment fund and the investment performance of one Eligible Portfolio has no effect on the investment performance of any other Eligible Portfolio. You can make or lose money in any of the Investment Divisions. Eligible Portfolios described in this prospectus are different from portfolios that may have similar names but are available directly to the general public. The portfolios available directly to the general public may have the same adviser, same name, same investment objectives and policies, and substantially similar portfolio securities, but still the investment performance may not be the same. You should read the Eligible Portfolio's prospectus carefully before making any decision concerning the allocation of Net Premium payments to an Investment Division corresponding to a particular Eligible Portfolio and transfers of Cash Value among the Investment Divisions.

Information regarding each of the Eligible Portfolios, including (i) its name; (ii) its type (e.g., money market fund, bond fund, balanced fund); (iii) its investment adviser and any sub-investment adviser; (iv) current expenses; and (v) performance is available in the Appendix to this Prospectus. See "Appendix—Eligible Portfolios Available Under the Policy" for a listing and information about the Eligible Portfolios. Each Eligible Portfolio has issued a prospectus that contains more detailed information about the Eligible Portfolio. You may also obtain this information at no cost by contacting us at (888) 695-4748 or emailing us at NYLAMN_Service@newyorklife.com, or by contacting your registered representative. You should read an Eligible Portfolio's prospectus carefully before making any decision about allocating Premium payments or a portion of your Policy's Cash Value to an Investment Division corresponding to that Eligible Portfolio.

**<u>We offer no assurance that any of the Eligible Portfolios will attain their respective stated investment</u> <u>objectives.</u>** 

The Eligible Portfolios' shares may be available to certain other separate accounts we use to fund our variable annuity contracts offered by NYLIAC. This is called "mixed funding." Except for the NYLIM VP Funds Trust, all Funds also make their Eligible Portfolios' shares available to separate accounts of insurance companies unaffiliated with NYLIAC. This is called "shared funding." Although we do not anticipate that any inherent difficulties will result from mixed and shared funding, it is possible that differences in tax treatment or other considerations may cause the interests of owners of various contracts participating in the Eligible Portfolios to be in conflict. In the event that any material conflicts arise from the use of the Eligible Portfolios for mixed and shared funding, we could be required to

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withdraw from an Eligible Portfolio. For more information about the risks of mixed and shared funding, please refer to the relevant Eligible Portfolio's prospectus.

The Funds and Eligible Portfolios offered through this product are selected by NYLIAC based on several criteria, including asset class coverage, the strength of the manager's reputation and tenure, brand recognition, performance, and the capability and qualification of each sponsoring investment firm. An affiliate of NYLIAC-New York Life Investment Management LLC-manages the NYLIM VP Funds Trust and that was a factor in its selection. Another factor that NYLIAC considers during the selection process is whether the Fund or Eligible Portfolio or an affiliate of the Fund will compensate NYLIAC for providing administrative, marketing, and support services that would otherwise be provided by the Fund, the Fund's investment adviser, or its distributor.

We also receive payments or compensation from the Funds or their investment advisers, or from other service providers of the Funds (who may be affiliates of NYLIAC) in connection with administration, distribution and other services we provide with respect to the Eligible Portfolios and their availability through the Policies. These payments may be derived, in whole or in part, from the advisory fee charged the Eligible Portfolios and deducted from their assets and/or from "Rule 12b-1" fees deducted from Eligible Portfolios' assets. These payments are also a factor in our selection of Funds and Eligible Portfolios. NYLIAC may use these payments for any corporate purpose, including payment of expenses that NYLIAC and/or its affiliates incur in promoting, marketing, and administering the Policies, and, in its role as an intermediary of the Funds. Policyowners, through their indirect investment in the Eligible Portfolios, bear the costs of these advisory and 12b-1 fees.

The amounts we receive may be substantial, may vary by Eligible Portfolio, and may depend on how much Policy value is invested in the particular Eligible Portfolio or Fund. NYLIAC and its affiliates may profit from these payments. Currently, we receive payments or revenue under various arrangements in amounts up to 0.35% annually of the aggregate net asset value of the shares of some of the Eligible Portfolios held by the Investment Divisions. We also receive compensation under various distribution services arrangements in amounts up to 0.25% annually of the aggregate net asset value of the shares of some of the Eligible Portfolios held by the Investment Divisions. The compensation that your registered representative receives remains the same regardless of which Investment Divisions you choose or the particular arrangements applicable to those Investment Divisions.

NYLIAC's parent company, New York Life Insurance Company, may also receive fixed dollar payments for marketing and education support services and for the participation of investment advisers and sub-advisers in training and educational meetings which includes the opportunity to discuss and promote their Funds.

NYLIAC does not provide investment advice and does not recommend or endorse any particular Eligible Portfolio or Portfolios. NYLIAC is not responsible for choosing the Investment Divisions or the amounts you allocate to each. You are responsible for determining that these decisions are appropriate for your own individual circumstances and your investment goals, financial situation, and risk tolerance. Decisions regarding investment allocations should be carefully considered. **You bear the risk of any decline in the value of your Policy resulting from the performance of the Eligible Portfolios you have chosen**. You should consult with your registered representative to determine which combination of Allocation Alternatives is most appropriate for you, and periodically review your choices.

Certain Eligible Portfolios, generally referred to as "funds of funds" or "master-feeder arrangements," may invest all or substantially all of their assets in portfolios of other funds. In such cases, you will indirectly pay fees and expenses at both portfolio levels, which would reduce your investment return.

Hedging strategies may be employed by certain Eligible Portfolios to attempt to provide downside protection during sharp downward movements in equity markets. The cost of these strategies could limit the upside participation of the portfolio in rising equity markets relative to other portfolios.

So-called "alternative" investment strategies may also be used by certain Eligible Portfolios, which may involve non-traditional asset classes. These alternative investment strategies may be riskier than more traditional investment strategies and may involve leverage or use complex hedging techniques, such as options and derivatives. These may offer potential diversification benefits beyond traditional investment strategies.

In addition, some of the Eligible Portfolios may use what are known as "volatility management strategies." Volatility management strategies are designed to reduce the overall volatility and provide risk-adjusted returns over time. During rising markets, a volatility management strategy, however, could cause your Policy Cash Value to rise less than

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would have been the case had you been invested in a fund with substantially similar investment objectives, policies and strategies that does not utilize a volatility management strategy. Conversely, investing in a fund that features a volatility management strategy may be helpful in a declining market when high market volatility triggers a reduction in the fund's equity exposure, because during these periods of high volatility, the risk of losses from investing in equity securities may increase. In these instances, your Policy's Cash Value may decline less than would have been the case had you not been invested in a fund that features a volatility management strategy. The success of the volatility management strategy of a fund depends, in part, on the investment adviser's ability to effectively and efficiently implement its risk forecasts and to manage the strategy for the fund's benefit. In addition, the cost of implementing a volatility management strategy may negatively impact performance. There is no guarantee that a volatility management strategy can achieve or maintain the fund's optimal risk targets, and the fund may not perform as expected. Any negative impact to the performance of a fund due to a volatility management strategy may limit increases in your Cash Value. For more information about the Eligible Portfolios and the investment strategies they employ, please refer to the Eligible Portfolios' current prospectuses.

Investment selections should be based on a thorough investigation of all of the information regarding the Eligible Portfolios that is available to you, including their prospectuses, statements of additional information, and annual and semi-annual reports. Other sources, such as the Fund's website, provide more current information, including information about any regulatory actions or investigations relating to a Fund or Eligible Portfolio. After you select Investment Divisions for your initial Premium, you should monitor and periodically reevaluate your allocations to see if they are still appropriate.

The Investment Divisions invest in the corresponding Eligible Portfolios. Generally, you can allocate Net Premium payments or transfer Cash Value to a maximum of 20 Investment Divisions, as well as to the Fixed Account for Net Premium payments. (Certain Policies associated with a nonqualified deferred compensation plan may permit allocation among up to 35 Investment Divisions and the Fixed Account; contact us for more information.) You can transfer all or part of the Cash Value of your Policy among the Allocation Alternatives tax-free within the limits described in this Prospectus.

***Money Market Fund Fees and Gates***

The SEC has adopted rules that provide that institutional prime and institutional tax-exempt money market funds are required to impose liquidity fees and other money market funds are permitted to impose discretionary liquidity fees under certain circumstances. The liquidity fees can be up to 2% of the amount redeemed. Institutional prime and tax-exempt money market funds are subject to mandatory liquidity fees (which could be applied to all Policy transfers, surrenders, partial surrenders, and benefit payments from that portfolio) when net redemptions exceed 5% of net assets.

Government money market funds (that invest at least 99.5% of their assets in government securities, cash, and/or repurchase agreements secured by government securities) are permitted to impose a discretionary liquidity fee but are less likely to impose such fees. Nevertheless, there remains a possibility that a government money market fund such as the NYLIM VP U.S. Government Money Market Portfolio and Fidelity<sup>®</sup> VIP Government Money Market Portfolio could impose such fees, which could be applied to all Policy transfers, surrenders, partial surrenders, and benefit payments from the Portfolio.

***Reinvestment***

We automatically reinvest all dividends and capital gains distributions from Eligible Portfolios in additional shares of the distributing Portfolio at their net asset value on the date the dividends or distributions are paid.

***Investment Return***

The investment return of a Policy is based on the number of Accumulation Units you have in each Investment Division of the Separate Account, the amount you have in the Fixed Account, and the amount you have in the Loan Account, the investment experience of each Investment Division as measured by its actual net rate of return, and the interest rate we credit on the amount you have in the Fixed Account and/or Loan Account. The Loan Account will be credited with interest at a rate that will never be less than the greater of (i) the Effective Annual Loan Interest Rate, less 2.00%; or (ii) the Fixed Account GMIR.

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The investment experience of an Investment Division of the Separate Account reflects increases or decreases in the net asset value of the shares of the corresponding Eligible Portfolio, any dividend or capital gains distributions, and any charges against the assets of the Investment Division. These investment returns do not reflect any other Policy charges, and, if they did, the returns shown would be reduced.

We will credit any amounts in the Fixed Account and Loan Account with a fixed interest rate that we declare periodically, in advance, and at our sole discretion. For Policies issued before March 1, 2012, this rate will never be less than an annual rate of 3%. For Policies issued on or after March 1, 2012, this rate will never be less than an annual rate of 1%. We may credit different interest rates to amounts in the Fixed Account and Loan Account. All Net Premiums applied to the Fixed Account and amounts transferred to the Fixed Account and Loan Account receive the applicable rate in effect on the Business Day we receive the Premium payment or process the transfer. Interest rates for subsequent Premium payments into the Fixed Account may be different from the rate applied to prior Premium payments made into the Fixed Account. Interest rates will fluctuate for the entirety of holdings in the Fixed Account.

Funds may lose value, are not guaranteed, are not a deposit, are not FDIC/National Credit Union Administration-insured, and are not insured by any government agency.

***Performance Calculations***

From time to time, we may advertise the performance of the Investment Divisions. These performance figures do not include contract or separate account charges such as the Monthly Contract Charge, Sales Expense Charge, State and Federal Premium Tax charges, Cost of Insurance charge, Mortality and Expense Risk Charges, or STR charges.

Performance data for the Investment Divisions may be compared in advertisements, sales literature or other marketing materials, and reports to shareholders, to: (i) the investment returns on various mutual funds, stocks, bonds, certificates of deposit, tax free bonds, or common stock and bond indexes; and (ii) other groups of variable life insurance separate accounts or other investment products tracked by Lipper Analytical Services or Morningstar Inc. (both of which are widely used independent research firms that rank mutual funds and other investment companies by overall performance, investment objectives, and assets), or tracked by other services, companies, publications, or persons who rank such investment companies on overall performance or other criteria.

Neither NYLIC nor NYLIAC guarantees the investment performance of the Investment Divisions.

We may also advertise a hypothetical illustration of Policy values, including all contract charges.

***Voting***

We will vote the Eligible Portfolio shares that the Investment Divisions of the Separate Account hold at any regular and special shareholder meetings of the Funds. We will vote these shares according to the instructions we receive from our policyowners who have invested their Premiums in Investment Divisions that invest in the Fund holding the meeting. However, if the law changes to allow us to vote the shares in our own right, we may decide to do so.

We may, if required by state insurance regulations, disregard voting instructions if they would require shares to be voted so as to cause a change in the sub-classification or investment objectives of one or more of the available Investment Divisions or to approve or disapprove an investment advisory contract for an Eligible Portfolio. In addition, we may disregard voting instructions that would require changes in the investment policy or investment adviser of one or more of the Eligible Portfolios associated with the available Investment Divisions, provided that we reasonably disapprove such changes in accordance with applicable federal or state regulations. If we disregard policyowner voting instructions, we will advise policyowners of our action and the reasons for such action in the next available annual or semi-annual report.

While your Policy is in effect, you can provide voting instructions to us for each Investment Division in which you have assets. The number of votes you are entitled to will be determined by dividing the units you have invested in an Investment Division by the net asset value per unit for the Eligible Portfolio underlying that Investment Division.

We will determine the number of votes you are entitled to on the date established by the underlying Fund for determining shareholders that are eligible to vote at the meeting of the relevant Fund. We will send you voting instructions prior to the meeting according to the procedures established by the Fund. We will send proxy materials, reports, and other materials relating to the Fund to each person having a voting interest.

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We will vote the Fund shares for which we do not receive timely instructions, and any other shares that we (or our affiliates) own in our own right, in the same proportion as the shares for which we receive timely voting instructions. As a result, because of proportional voting, a small number of policyowners may control the outcome of the vote.

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**Charges Associated with the Policy**

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As with all life insurance policies, certain charges apply under the Policy. The following is a summary explanation of these charges.

***Deductions From Premium Payments***

When we receive a Premium payment from you, whether Planned or Unplanned, we will deduct a Sales Expense Charge, a State Premium Tax Charge, and a Federal Premium Tax Charge.

*Sales Expense Charge*

A Sales Expense Charge is deducted from each Planned and Unplanned Premium payment when that payment is received. We reserve the right to increase this charge in the future, but it will never exceed the maximums stated below. The amount of the Sales Expense Charge in a Policy Year is not necessarily related to our actual sales expenses for that particular year. To the extent that the Sales Expense Charge does not cover sales expenses, they will be recovered from NYLIAC surplus, including any amounts derived from any Monthly Deduction Charges.

**Current—**The Sales Expense Charge is deducted as follows:

During the first Policy Year, we currently deduct a Sales Expense Charge of 14.00% from any Premiums paid up to and including the Target Premium. Once the Target Premium for that first Policy Year has been reached, we expect to deduct a Sales Expense Charge of 2.00% from any additional Premiums paid in that Policy Year.

During Policy Years two through five, we currently expect to deduct a Sales Expense Charge of 10.00% from any Premiums paid up to and including the Target Premium. Once the Target Premium for each of those Policy Years has been reached, we expect to deduct a Sales Expense Charge of 2.00% from any additional Premiums paid in Policy Years two through five.

During Policy Years six and seven, we currently expect to deduct a Sales Expense Charge of 1.75% from any Premiums paid up to and including the Target Premium for each of those Policy Years. Once the Target Premium for either such Policy Year has been reached, we expect to deduct a Sales Expense Charge of 2.00% from any additional Premiums paid in such Policy Years.

Beginning in the eighth Policy Year, we do not currently expect to deduct a Sales Expense Charge from any Premiums paid.

**Guaranteed maximum—**We may increase the current Sales Expense Charge in the future, at our discretion, but not above the guaranteed maximum. During the first Policy Year, we guarantee that any Sales Expense Charge we deduct will never exceed 15.75% of any Premiums paid up to the Target Premium. Once the Target Premium for that Policy Year has been reached, we will never deduct a Sales Expense Charge of more than 3.00% from any additional Premiums in that Policy Year. During Policy Years 2-7, we guarantee that any Sales Expense Charge we deduct will never exceed 11.75% of any Premiums paid up to the Target Premium. Once the Target Premium for each of those Policy Years has been reached, we will never deduct a Sales Expense Charge of more than 3.00% from any additional Premiums in each of those Policy Years. Beginning in the eighth Policy Year, we guarantee that any Sales Expense Charge we deduct will never exceed 5.00% of any Premiums paid up to the Target Premium. Once the Target Premium for that Policy Year has been reached, we will never deduct a Sales Expense Charge of more than 3.00% from any additional Premiums paid in that Policy Year.

The Target Premium, as shown on the Policy Data Pages, is based on factors that include, but are not limited to, Insured's Issue Age, gender, and the Face Amount of the Policy or, for policyowners who have elected the STR, on the Target Face Amount of the Policy. Any change to the Policy which results in a change to the Target Face Amount will change the Target Premium

*State Premium Tax Charge*

Various states and jurisdictions impose a tax on Premium payments received by insurance companies. State Premium Tax rates vary from state to state and currently range from 0% to 3.50% of the Premium payment (and sometimes higher in certain jurisdictions).

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We may increase this charge to reflect changes in applicable law. The amount we deduct for the State Premium Tax charge may not reflect the actual Premium tax charge in your state. Two percent (2.00%) represents the approximate average of taxes assessed by the jurisdictions.

During the first seven Policy Years, we currently deduct 2.00% of each Premium payment you make up to the Target Premium and 1.75% on the amount paid over the Target Premium. We will not impose a state Premium tax charge greater than 2.00% unless there is a change in applicable law.

Beginning in the eighth Policy Year, we currently expect to deduct 1.50% of each Premium payment you make as a state Premium tax charge.

*Federal Premium Tax Charge*

NYLIAC's federal tax obligations will increase based upon Premium payments received under the Policies. We may increase this charge to reflect changes in applicable law. We will not impose a Federal Premium Tax charge greater than 1.25%, unless there is a change in applicable law.

During the first seven Policy years, we currently deduct 1.25% of each Premium payment you make. Beginning in the eighth Policy Year, we expect to deduct 1.00% of each Premium payment you make.

***Deductions From Cash Value***

Each month, we will deduct a Monthly Contract Charge, a Cost of Insurance charge (which will include a charge for the cost of the STR, if selected by the policyowner), the Mortality and Expense Risk Charge, and applicable loan charges.

We will deduct these charges on each Monthly Deduction Day. The first Monthly Deduction Day will be the monthly anniversary of the Policy Date on or following the Issue Date. If the Policy Date is prior to the Issue Date, the deductions made on the first Monthly Deduction Day will cover the period from the Policy Date until the first Monthly Deduction Day. We deduct these charges from the Policy's Cash Value in each Investment Division and the Fixed Account in accordance with the expense charge allocation you made in the Policy application. If no expense charge allocation is in effect, monthly deductions will be made pro-rata from each of the Investment Divisions and the Fixed Account.

*Monthly Contract Charge*

On each Monthly Deduction Day, we will deduct a Monthly Contract Charge to cover our costs for providing certain administrative services, including collecting premiums, record-keeping, processing claims, and communicating with policyowners. This charge is not designed to produce a profit. To the extent that the proceeds of this charge are insufficient to cover the costs of providing these services, we may use the proceeds of other charges under this Policy, including the Mortality and Expense Charge, to pay for these services.

We currently deduct a Monthly Contract Charge of $0.00 in Policy Year 1 and $5.00 thereafter ($60.00 per year). We guarantee that this charge will never exceed $11.00 per month ($132.00 annually) in all Policy Years.

*Cost of Insurance Charge*

On each Monthly Deduction Day, we will deduct the Cost of Insurance charge from the Cash Value of your Policy for the cost of providing a Life Insurance Benefit to you. This charge equals (a) multiplied by the result of (b) minus (c), where:

&nbsp;&nbsp;&nbsp;&nbsp;(a) is the applicable cost of insurance rate per $1,000 of insurance;

&nbsp;&nbsp;&nbsp;&nbsp;(b) is the number of thousands of Life Insurance Benefit as of the Monthly Deduction Day divided by 1.0032737; and

&nbsp;&nbsp;&nbsp;&nbsp;(c) is the number of thousands of Alternative Cash Surrender Value as of the Monthly Deduction Day (before this Cost of Insurance charge, but after the Mortality and Expense Risk Charge, the Monthly Contract Charge, and any charges for riders are deducted).

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The Net Amount at Risk is (b) minus (c).

The Cost of Insurance charge will never be less than zero.

The Life Insurance Benefit varies based on the Life Insurance Option chosen. The Cash Value varies based upon the performance of the Investment Divisions selected, interest credited to the Fixed Account and Loan Account, Policy Debt, charges, and premium payments. We determine the initial rate of the Cost of Insurance charge based upon our underwriting of your Policy. Underwriting determinations are based on various factors including, but not limited to, the Insured's issue age, gender, risk classification, Policy Year, and Face Amount. We may change these rates from time to time, based on changes in future expectations of various factors, including, but not limited to, mortality, investment income, expenses, and persistency.

For Insureds rated sub-standard risks, an additional Flat Extra may be assessed as part of the Cost of Insurance charge due to an Insured's circumstances including, but not limited to, his or her medical condition, occupation, or motor vehicle or aviation record. Any additional Flat Extras (which might apply to certain Insureds based on our underwriting) will also be deducted on each Monthly Deduction Day. If applicable, the amount and duration of these additional Flat Extras will be displayed on your Policy Data Pages. The cost of insurance rates, however, will never exceed the guaranteed maximum cost of insurance rates for your Policy.

We will no longer deduct Cost of Insurance charges after the Insured reaches Attained Age 100.

*Mortality and Expense Risk Charge*

We assume a mortality risk that the group of lives we have insured under our policies may, on average, not live as long as we have expected. In addition, we assume an expense risk that the cost of issuing and administering the policies we have sold will be greater than what we have estimated.

**Current—**We currently deduct on each Monthly Deduction Day a Mortality and Expense Risk Charge that is equal to the following annual rates: 0.25% in Policy Year one, or $2.50 per $1,000, and 0.45% in Policy Years two through ten, or $4.50 per $1,000, and 0.25% in Policy Years 11 and following or $2.50 per $1,000 of the Accumulation Value of each Investment Division's assets.

**Guaranteed Maximum—**We guarantee that the Mortality and Expense Risk Charge will never exceed an annual rate of 0.90% or $9.00 per $1,000, of the average daily Accumulation Value.

We may increase or decrease the current Mortality and Expense Risk Charge if the mortality risk profile of policyowners changes, or if a change in law, regulation or administrative interpretation thereof affects our cost of doing business including, without limitation, a change that eliminates a tax benefit or deduction that increases our after-tax cost of doing business, or if our costs of doing business change for any other reason. However, the Mortality and Expense Risk Charge will never exceed the guaranteed maximum. We will notify policyowners at least 30 days before the change by prospectus supplement and letter.

If the current charge is insufficient to cover actual costs and assumed risks, the loss will fall on NYLIAC. We expect to profit from this charge. We may use these funds for any corporate purpose, including expenses relating to the sale of the policies.

*Rider Charges*

Each month, if you elected the STR, the cost of this rider is included in your Cost of Insurance charge. (For more information about this charge, see "Table of Fees and Expenses.")

*Allocating Expense Charge Deductions*

You can choose how to allocate deductions from your Cash Value. These include the Monthly Contract Charge, Cost of Insurance charge, Mortality and Expense Risk Charge, and STR charge. You can instruct us at the time of the Policy application, and any time thereafter, to have expenses deducted from any of the Allocation Alternatives you have chosen, or a combination of those Allocation Alternatives. You can change these instructions at any time.

If the accumulations in the Allocation Alternatives you have chosen for deduction under your Policy are insufficient to pay these charges, we will deduct the charges proportionately from each of the other Investment Divisions in your

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Policy and the Fixed Account. If you do not instruct us on how you would like the expenses allocated, we will deduct these charges proportionately from each of the Investment Divisions under your Policy and the Fixed Account.

***Separate Account Charges***

*Charges for Federal Income Taxes*

We do not currently deduct a charge for federal income taxes from the Investment Divisions, although we may do so in the future to reflect possible changes in the law.

*Fund Charges*

Each Investment Division of the Separate Account purchases shares of the corresponding Eligible Portfolio at the Accumulation Unit value. The Accumulation Unit value reflects the investment advisory fees and other expenses that are deducted from the assets of the corresponding Eligible Portfolio. The advisory fees and other expenses are not fixed or specified under the terms of the Policy and may vary from year to year. These fees and expenses are described in the Funds' prospectuses. See "Appendix—Eligible Portfolios Available Under the Policies" and https://dfinview.com/NewYorkLife/TAHD/corpexec-vi.

Certain Eligible Portfolios may also impose liquidity or redemption fees on surrenders and partial surrenders (including transfers) pursuant to SEC Rules including Rules 2a-7 or 22c-2 under the 1940 Act. In such cases, we would administer these fees and deduct them from your Cash Value or Policy transaction proceeds.

*Partial Surrender Processing Fee*

When you make a partial surrender, we reserve the right to deduct a fee, not to exceed $25, for processing the partial surrender. Currently, we do not charge a fee when you make a partial surrender.

*Fund Transfer Charge*

We currently do not charge for transfers made between Investment Divisions. However, we reserve the right to charge $30 per transfer for any transfer in excess of 12 in a Policy Year.

***Loan Charges***

We currently charge an Effective Annual Loan Interest Rate of 4.00%, payable in arrears. The maximum loan interest rate we will charge is 6.00%. When you Request a loan, an amount equal to the requested loan amount is transferred from the Allocation Alternatives to the Loan Account and this amount is added to any Policy Debt.

When you take a loan against your Policy, the loaned amount that we hold in the Loan Account may earn interest at a different rate from the rate we charge you for loan interest. For the first 10 Policy Years, the rate we currently expect to credit on loaned amounts is 0.50% less than the rate we charge for loan interest. Beginning in the eleventh Policy Year, the rate we currently expect to credit on loaned amounts is 0.05% less than the rate we charge for loan interest. The amount in the Loan Account will be credited with interest at a rate that will never be less than the greater of (1) the Effective Annual Loan Interest Rate, less 2.00%; or (2) the Fixed Account GMIR. Interest accrues daily and is credited on the Monthly Deduction Day. These rates are not guaranteed and we can change them at any time, subject to the above-mentioned minimums. (See "Loans" for more information.)

***Commissions Paid to Dealers***

The selling broker-dealer, and in turn your registered representative, will receive compensation for selling you this Policy or any other insurance or investment product. Compensation may consist of commissions, asset-based compensation, allowances for expenses, and other compensation programs. The amount of compensation received by your registered representative will vary depending on the Policy that he or she sells, on sales production goals, and on the specific payment arrangements of the relevant broker-dealer. Differing compensation arrangements have the potential to influence the recommendations made by your registered representative or broker-dealer.

Commission rates will vary depending on whether the STR has been added. Compensation rates for Policies with the same initial Life Insurance Benefit are lower for Policies with the STR added than for Policies without the STR.

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This could influence your registered representative's advice to you about the relative amounts of base Policy and term insurance coverage you should purchase.

Broker-dealers will be paid commission not to exceed 30% of Premiums paid up to the Target Premium in Policy Year 1 and 10.25% for Policy Years 2-7 on Premiums paid up to target. In addition, we pay broker-dealers a maximum of 4% commission on Premiums paid in excess of the Target Premium for Policy Years 1-4 and 3% for Policy Years 5-7.

We may enter into agreements with service entities, which may be affiliates of broker-dealers, under which those service entities may receive service fees and/or additional compensation based on a percentage of a Policy's Cash Surrender Value.

The commissions, service fees and other compensation described above is not deducted directly from your Policy's cash value. Rather NYLIAC and its affiliates pay these expenses from the Sales Expense Charges, other charges under the Policies and other resources.

***How the Policy Works – Example***

This example is based on the charges applicable to a Policy issued on or after the date of this prospectus during the First Policy Year, issued on a guaranteed issue, non-smoking insured male, issue age 45, with an initial Face Amount of $400,000, with a Target Premium of $19,164, who has selected Life Insurance Benefit Option 1 and the Cash Value Accumulation Test, assuming current charges and a 6.00% hypothetical gross annual investment return, which results in a net annual effective investment return of 5.28% for all years:

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| | | |
|:---|:---|:---|
|  | Premium Paid | $7000 |
| less: | Below Target Premium Sales Expense Charge | $980 |
|  | Above Target Premium Sales Expense Charge | $0 |
|  | State Premium Tax Charge (2%) | $140 |
|  | Federal Premium Tax Charge (1.25%) | $88 |
| equals: | Net Premium | $5792 |
| less: | Mortality and Expense Risk charge (varies monthly) | $15 |
| less | Monthly contract charge (5.00 per month in Policy Years 2 and following) | $0 |
| less | Charges for cost of insurance (varies monthly) | $254 |
| plus: | Net investment performance (varies daily) | $298 |
| equals: | Cash Value | $5821 |
| plus: | DPL Account | $1328 |
| equals: | Alternative Cash Surrender Value (as of end of first Policy Year) | $7149 |

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There is no guarantee that the current charges illustrated above will continue. Depending on the timing and degree of fluctuation in actual investment returns, the actual Policy values could be substantially more or less than those shown. A lower value, under certain circumstances, could result in the lapse of the Policy unless the policyowner pays more than the stated Premium.

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**Description of the Policy**

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***The Parties***

There are three important parties to the Policy: the **policyowner** (or contract owner), the **Insured,** and the **beneficiary** (or payee). One party can have one or more of these roles. Each party plays an important role in a Policy.

**<u>POLICYOWNER</u>:** This person (persons) or entity can purchase and surrender Policy, and can make changes to it, such as:

&nbsp;&nbsp;&nbsp;&nbsp;● increase/decrease the Face Amount

&nbsp;&nbsp;&nbsp;&nbsp;● choose a different Life Insurance Benefit (except that a change cannot be made to Option 3)

&nbsp;&nbsp;&nbsp;&nbsp;● elect/add/terminate riders

&nbsp;&nbsp;&nbsp;&nbsp;● change a beneficiary

&nbsp;&nbsp;&nbsp;&nbsp;● choose/change underlying Allocation Alternatives

&nbsp;&nbsp;&nbsp;&nbsp;● take a loan against or take a partial surrender from the Cash Value of the Policy.

The current policyowner has the right to transfer ownership to another party/entity. This must be done using our approved "Transfer of Ownership" form in effect at the time of the Request. Please note that the completed Transfer of Ownership form must be sent to our Service Office in Good Order. When we record the change, it will take effect as of the date the form was signed, subject to any payment made or other action we take before recording. Federal law requires all financial institutions to obtain, verify, and record information that identifies each person who becomes the owner of an existing Policy. This means the new policyowner will be required to provide its name, address, and other identifying information. A transfer of ownership Request on any variable product requires that the new owner(s) submit financial and suitability information. In addition, following certain types of ownership transfers, you may not be eligible to receive the Alternative Cash Surrender Value upon surrender. For more information about Alternative Cash Surrender Value eligibility, please see "Surrenders—Full Surrenders—Requesting a Surrender."

**<u>INSURED</u>:** This individual's personal information determines the cost of the life insurance coverage and whether the Life Insurance Proceeds become payable.

**<u>BENEFICIARY</u>:** The beneficiary is the person(s) or entity(ies) the policyowner specifies on our records to receive the Life Insurance Proceeds from the Policy. If the policyowner is an individual, he or she may name his or her estate as the beneficiary.

The parties named as policyowner and beneficiary may affect whether and to what extent the Life Insurance Proceeds may be received on a tax-free basis. See the discussion under "Federal Income Tax Considerations—Life Insurance Status of Policy" and "—IRC Section 101(j)—Impact on Employer-Owned Policies" for more information.

***The Policy***

The Policy provides life insurance protection on the named Insured. We will pay the designated beneficiary the Life Insurance Proceeds if the Policy is still in effect when the Insured dies.

The Policy offers:

&nbsp;&nbsp;&nbsp;&nbsp;1. flexible Premium payments where you decide the timing and amount of the payment;

&nbsp;&nbsp;&nbsp;&nbsp;2. a choice of three Life Insurance Benefit options;

&nbsp;&nbsp;&nbsp;&nbsp;3. access to the Policy's Cash Value through loans and partial surrender privileges (within limits);

&nbsp;&nbsp;&nbsp;&nbsp;4. the ability to increase or decrease the Policy's Face Amount of insurance (within limits);

&nbsp;&nbsp;&nbsp;&nbsp;5. additional benefits through the use of the STR; and

&nbsp;&nbsp;&nbsp;&nbsp;6. a selection of Allocation Alternatives, including Investment Divisions and a Fixed Account with a GMIR.

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Your Policy will stay in effect as long as the Cash Surrender Value of your Policy is sufficient to pay your Policy's monthly deductions.

*How the Policy Is Available*

The Policy is available only as a Non-Qualified Policy. This means that the Policy is not available for use in connection with certain employee retirement plans that qualify for special treatment under the federal tax law. The minimum Face Amount of a Policy is $25,000. The policyowner may increase the Face Amount, subject to our underwriting rules in effect at the time of the Request. The Insured may not be older than age 85 as of the Policy Date or the date of any increase in Face Amount. Before issuing any Policy (or increasing its Face Amount), the policyowner must give us satisfactory evidence of insurability.

We may issue the Policy based on underwriting rules and procedures, which are based on NYLIAC's eligibility standards. These may include guaranteed issue and full medical underwriting. Under certain arrangements, if our procedures permit guaranteed issue underwriting, the cost of insurance rates are higher for healthy individuals when this method of underwriting is used than under a substantially similar policy that is issued based on full medical underwriting. Therefore, Insureds in good health may be able to obtain coverage more economically under a policy that requires full medical underwriting.

We may issue the Policy on a unisex basis in certain states where applicable. For Policies issued on a unisex basis, the policyowner should disregard any reference in this prospectus that makes a distinction based on the gender of the Insured.

*Policy Premiums*

Once you have purchased your Policy, you can make Premium payments as often as you like and for any amount you choose, within limits. Other than the initial Premium, there are no required Premium payments. However, **you may need to make additional Premium payments to keep your Policy from lapsing**. The currently available methods of payment are: direct payments to NYLIAC and any other method to which we agree. (See "Premiums" for more information.)

*Cash Value*

After the free look period has expired, or after we receive your Policy delivery receipt, whichever is later, the Cash Value of the Policy at any time is the sum of the Accumulation Value, plus the value in the Fixed Account and the Loan Account. A number of factors affect your Policy's Cash Value, including, but not limited to:

&nbsp;&nbsp;&nbsp;&nbsp;● the amount and frequency of the Premium payments;

&nbsp;&nbsp;&nbsp;&nbsp;● the investment experience of the Investment Divisions you choose;

&nbsp;&nbsp;&nbsp;&nbsp;● the interest credited on the amount in the Fixed Account;

&nbsp;&nbsp;&nbsp;&nbsp;● the amount of any partial surrenders you make (including any charges you incur as a result of such surrenders); and

&nbsp;&nbsp;&nbsp;&nbsp;● the amount of charges we deduct.

*Cash Surrender Value*

The Cash Surrender Value equals the Cash Value less Policy Debt.

*Alternative Cash Surrender Value*

The Alternative Cash Surrender Value is equal to the Cash Value of the Policy, plus the value of the DPL Account. You are eligible to receive the Alternative Cash Surrender Value less Policy Debt, provided that (1) the Policy has not been assigned, including an assignment made as part of an exchange under IRC section 1035 and (2) the policyowner has not changed. The DPL Account is not available to support Monthly Deduction Charges or for purposes of a loan or partial surrender. The Alternative Cash Surrender Value is not available during the Right to Examine period.

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***Investment Divisions and the Fixed Account***

We allocate your Net Premium among your selected Investment Divisions, each of which invests in a specific Eligible Portfolio, available under the Policy (See "Appendix—Eligible Portfolios Available Under the Policy" for our list of available Eligible Portfolios) and/or the Fixed Account, based on your instructions. Generally, you can allocate your Net Premium among up to 20 Investment Divisions at any one time, as well as to the Fixed Account. Certain Policies associated with a nonqualified deferred compensation plan may permit allocation among up to 35 Allocation Alternatives, including the Fixed Account; contact us for more information.

*Amount in the Separate Account*

We use the amount allocated to an Investment Division to purchase Accumulation Units within that Investment Division. We redeem Accumulation Units from an Investment Division when amounts are loaned, transferred, partially surrendered, fully surrendered, or deducted for charges or loan interest. We calculate the number of Accumulation Units purchased or redeemed in an Investment Division by dividing the dollar amount of the Policy transaction by the Investment Division's Accumulation Unit value. On any given day, the amount you have in the Separate Account is the value of the Accumulation Units you have in all of the Investment Divisions of the Separate Account. The value of the Accumulation Units you have in a given Investment Division equals the current Accumulation Unit value for the Investment Division multiplied by the number of Accumulation Units you hold in that Investment Division.

*Determining The Value Of An Accumulation Unit*

We calculate the value of an Accumulation Unit at the end of each Business Day. We determine the value of an Accumulation Unit by multiplying the value of that unit on the prior Business Day by the net investment factor.

The net investment factor we use to calculate the value of an Accumulation Unit in any Investment Division is (a) divided by (b), where:

&nbsp;&nbsp;&nbsp;&nbsp;(a) is the net asset value of an Eligible Portfolio share, unit, or interest held in the Separate Account for that Investment Division determined at the end of the current Business Day on which we calculate the Accumulation Unit value, plus the per share, unit, or interest amount of any dividends paid or capital gain distributions made by the Eligible Portfolio if the ex-dividend date occurs since the end of the immediately preceding Business Day on which we calculate an Accumulation Unit value for that Investment Division; and

&nbsp;&nbsp;&nbsp;&nbsp;(b) is the net asset value of an Eligible Portfolio share, unit, or interest held in the Separate Account for that Investment Division determined as of the end of the immediately preceding Business Day on which we calculated an Accumulation Unit value for that Investment Division.

The net investment factor may be greater or less than one. Therefore, the value of an Accumulation Unit may increase or decrease.

*Amount in the Fixed Account*

If your Policy was issued before May 1, 2012, you can choose to allocate all or part of your Net Premium payments to the Fixed Account. If your Policy was issued on or after May 1, 2012, we can limit the amount of Net Premium (and Cash Value) that may be allocated to the Fixed Account, including not allowing any Premium to be allocated to the Fixed Account. Until further notice, you may continue to allocate Net Premium to the Fixed Account according to the percentage allocation that was in effect as of April 20, 2020 (the "Current Allocation"). You may increase your allocation of Net Premium to the Fixed Account, but your Net Premium Allocation percentage will be capped at an additional 5 percentage points over the lower of: (1) the Current Allocation; or (2) the lowest Net Premium allocation percentage that you select, if you subsequently reduce your Net Premium allocation percentage below the Current Allocation.

&nbsp;&nbsp;&nbsp;&nbsp;● For example, if the Current Allocation is 10%, you may increase your allocation of Net Premium to the Fixed Account to a maximum percentage of 15%. However, if you reduce your allocation of Net Premium to the Fixed Account to 7% thereafter, the maximum percentage of Net Premium that you may allocate to the Fixed Account will be reduced to 12%, and subsequent increases in your Net Premium allocation percentage will not increase your maximum allocation percentage.

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Any limitations on transfers are described in "Transfers Among Investment Divisions and the Fixed Account" below.

The amount you have in the Fixed Account equals:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) the sum of the Net Premium payments you have allocated to the Fixed Account;

plus

(2) any transfers you have made from the Separate Account to the Fixed Account;

plus

(3) any interest credited to the Fixed Account;

less

&nbsp;&nbsp;&nbsp;&nbsp;(4) any partial surrenders you have taken from the Fixed Account;

less

&nbsp;&nbsp;&nbsp;&nbsp;(5) any charges we have deducted from the Fixed Account;

less

&nbsp;&nbsp;&nbsp;&nbsp;(6) any transfers you have made from the Fixed Account to the Separate Account or to the Loan Account.

*Transfers Among Investment Divisions and the Fixed Account*

There is no charge for the first twelve transfers in any one Policy Year. NYLIAC may apply a transfer charge, which will not exceed $30 for each transfer in excess of twelve per Policy Year. This charge will be applied on a pro-rata basis to the Allocation Alternatives to which the transfer is being made. Transfer Requests must be submitted to our Service Office.

*Transfers among Investment Divisions and from the Investment Divisions to the Fixed Account:* 

If your Policy was issued before March 1, 2012, you may transfer all or part of the Cash Value from an Investment Division to the Fixed Account.

If your Policy was issued on or after May 1, 2012, we have the right to establish limits on your ability to transfer all or part of the Cash Value from an Investment Division to the Fixed Account. ***These limits may include allowing no transfers from the Investment Divisions to the Fixed Account***. For Policies issued on or after May 1, 2012, until further notice,

&nbsp;&nbsp;&nbsp;&nbsp;● you may not transfer any portion of your Policy's Cash Value from an Investment Division to the Fixed Account.

&nbsp;&nbsp;&nbsp;&nbsp;● Any Cash Value that has already been allocated to the Fixed Account will continue to receive the current interest rate in effect when interest is credited. Interest accrues and is credited daily. If you transfer any Cash Value from the Fixed Account to the Investment Divisions, you may not transfer it back to the Fixed Account.

The only other current transfer limitations are described below. We will provide you 30 days' notice before imposing any additional limits on transfers.

You may make transfers among Investment Divisions and from the Investment Divisions to the Fixed Account, subject to the following two conditions:

&nbsp;&nbsp;&nbsp;&nbsp;● *Minimum Transfer*—Unless we agree otherwise, the minimum amount that may be transferred is the smaller of: (i) $500 or (ii) the value of the Accumulation Units in the Investment Division from which the transfer is made.

&nbsp;&nbsp;&nbsp;&nbsp;● *Minimum Remaining Value*—After the transfer, the value of: (i) the remaining Accumulation Units in an Investment Division or (ii) the Fixed Account must be at least $500. If the remaining value would be less than $500, we have the right to include that amount as part of the transfer.

Transfers to or from Investment Divisions will be made based on the Accumulation Unit values on the Business Day on which NYLIAC receives the transfer Request. Transfers received after the close of the NYSE (usually 4 p.m. Eastern Time) on a Business Day, or on a non-Business Day, will be priced as of the next Business Day.

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*Transfers from the Fixed Account to the Investment Divisions:* 

You may make transfers from the Fixed Account to the Investment Divisions, subject to the following three conditions:

&nbsp;&nbsp;&nbsp;&nbsp;● *Maximum Transfer*—The maximum amount you can transfer from the Fixed Account to the Investment Divisions during any Policy Year is the greatest of (i) 20% of the amount in the Fixed Account at the beginning of the Policy Year, (ii) the previous Policy Year's transfer amount, or (iii) $5,000. During the retirement year (i.e., the Policy Year following the Insured's 65th birthday or a date you indicate in the application), or another date you Request and we approve, the 20% maximum transfer limitation will not apply for a one-time transfer. If your Policy was issued on or after May 1, 2012, we have the right to establish limits on your ability to transfer all or part of the Cash Value from the Fixed Account to an Investment Division. **These limits may include allowing no transfers from the Fixed Account to an Investment Division.** We will provide 30 days' notice if we change existing limits on transfers from the Fixed Account to the Investment Divisions.

&nbsp;&nbsp;&nbsp;&nbsp;● *Minimum Transfer*—Unless we agree otherwise, the minimum amount that may be transferred is $500.

&nbsp;&nbsp;&nbsp;&nbsp;● *Minimum Remaining Value*—After the transfer, the value remaining in the Fixed Account must be at least $500. If the remaining value would be less than $500, we have the right to include that amount as part of the transfer. (This will apply even in cases where we have limited the maximum that you may transfer, as stated above).

***Limits On Transfers***

*Procedures Designed to Limit Potentially Harmful Transfers*—This Policy is not intended as a vehicle for market timing. Generally, we require that all transfer Requests be submitted through the U.S. mail or an overnight carrier. We may permit, in certain limited circumstances for a limited category of policies, transfer Requests to be submitted by fax or e-mail transmission. These requirements are designed to limit potentially harmful transfers.

Your ability to make transfers under the Policy is subject to limitation if we determine, in our sole opinion, that the exercise of that privilege may disadvantage or potentially hurt the rights or interests of other policyowners.

Any modification of the transfer privilege could be applied to transfers to or from some or all of the Investment Divisions. If not expressly prohibited by the Policy, we may, for example:

&nbsp;&nbsp;&nbsp;&nbsp;● reject a transfer Request from you or from any person acting on your behalf;

&nbsp;&nbsp;&nbsp;&nbsp;● restrict the method of making a transfer;

&nbsp;&nbsp;&nbsp;&nbsp;● charge you for any redemption fee imposed by an underlying Fund; and/or

&nbsp;&nbsp;&nbsp;&nbsp;● limit the dollar amount, frequency or number of transfers.

We do not include the following transfers in these limitations, although we reserve the right to include them in the future: transfers to and from the Fixed Account, the first transfer into the Investment Divisions at the expiration of the free look period, the first transfer out of the NYLIM VP U.S. Government Money Market Investment Division or Fidelity<sup>®</sup> VIP Government Money Market Portfolio or within six months of the issuance of a Policy immediately after funds have been transferred to the NYLIM VP U.S. Government Money Market Investment Division or Fidelity<sup>®</sup> VIP Government Money Market Portfolio at the expiration of the free look period, and transfers made pursuant to the Dollar Cost Averaging and Automatic Asset Reallocation options.

**We may change these limitations or restrictions or add new ones at any time without prior notice; your Policy will be subject to these changes regardless of the Issue Date of your Policy.** All transfers are subject to the limits set forth in the prospectus in effect on the date of the transfer Request, regardless of when your Policy was issued. Note, also, that any applicable transfer rules, either as indicated above or that we may utilize in the future, will be applied even if we cannot identify any specific harmful effect from any particular transfer.

We apply our limits on transfers procedures to all owners of this Policy without exception.

Orders for the purchase of Eligible Portfolio shares are subject to acceptance by the relevant Fund. We will reject or reverse, without prior notice, any transfer Request into an Investment Division if the purchase of shares in the

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corresponding Eligible Portfolio is not accepted by the Fund for any reason. For transfers into multiple Investment Divisions, the entire transfer Request will be rejected or reversed if any part of it is not accepted by any one of the Funds or is restricted for any reason. Transfer Requests must be sent to our Service Office. Standing allocation instructions into a Fund that has been restricted will also be rejected, reversed or modified until further allocation instructions are received from you. For transfers through the Dollar Cost Averaging programs, the restricted portion of the transfer will be temporarily allocated to the Fidelity<sup>®</sup> VIP Government Money Market Portfolio. For Automatic Asset Reallocation, the whole program may be terminated or suspended if any portion of the transfer is to a restricted Fund. We will provide you with written notice of any transfer Request we reject, reverse, or modify. You should read the Eligible Portfolios' prospectuses for more details regarding their ability to refuse or restrict purchases or redemptions of their shares. In addition, pursuant to Rule 22c-2 of the 1940 Act, a Fund may require us to share specific policyowner transactional data with them, such as taxpayer identification numbers and transfer information.

*Risks Associated with Potentially Harmful Transfers*—Our transfer procedures are designed to limit potentially harmful transfers. However, we cannot guarantee that our procedures will be effective in detecting and preventing all transfer activity that could disadvantage or potentially hurt the rights or interests of other policyowners. The risks described below apply to policyowners and other persons having material rights under the Policies.

&nbsp;&nbsp;&nbsp;&nbsp;● We do not currently impose redemption fees on transfers or expressly limit the number or maximum amount of transfers in a given period. Redemption fees, transfer limits, and other procedures or restrictions may be more or less successful than our procedures in deterring or preventing potentially harmful transfer activity.

&nbsp;&nbsp;&nbsp;&nbsp;● Our ability to detect and deter potentially harmful transfer activity may be limited by Policy provisions.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) The underlying Eligible Portfolios may have adopted their own policies and procedures with respect to trading of their respective shares. The prospectuses for the underlying Eligible Portfolios, in effect at the time of any trade, describe any such policies and procedures. The trading policies and procedures of an underlying Eligible Portfolio may vary from ours and be more or less effective at preventing harm. Accordingly, the sole protection you may have against potentially harmful frequent transfers is the protection provided by the procedures described herein.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2) The purchase and redemption orders received by the underlying Eligible Portfolios reflect the aggregation and netting of multiple orders from owners of this Policy and other variable policies we issue. The nature of these combined orders may limit the underlying Eligible Portfolios' ability to apply their respective trading policies and procedures. In addition, if an underlying Eligible Portfolio believes that a combined order we submit may reflect one or more transfer Requests from owners engaged in potentially harmful transfer activity, the underlying Eligible Portfolio may reject the entire order and thereby prevent us from implementing any transfers that day. We do not generally expect this to happen.

&nbsp;&nbsp;&nbsp;&nbsp;● Other insurance companies that invest in the Eligible Portfolios underlying this Policy may have adopted their own policies and procedures to detect and prevent potentially harmful transfer activity. The policies and procedures of other insurance companies may vary from ours and be more or less effective at preventing harm. If their policies and procedures fail to successfully discourage potentially harmful transfer activity, there could be a negative effect on the owners of all of the variable policies, including ours, whose Investment Divisions correspond to the affected underlying Eligible Portfolios.

&nbsp;&nbsp;&nbsp;&nbsp;● Potentially harmful transfer activity could result in reduced performance results for one or more Investment Divisions, due to, among other things:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) an adverse effect on management of the underlying Eligible Portfolio, such as:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a)

impeding the portfolio manager's ability to sustain an investment objective;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b)

causing the Eligible Portfolio to maintain a higher level of cash than would otherwise be the case; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;c)

causing the Eligible Portfolio to liquidate investments prematurely (or at an otherwise inopportune time) to pay partial surrenders or transfers out of the underlying Eligible Portfolio.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2) increased administrative and brokerage expenses.

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&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) dilution of the interests of long-term investors in an Investment Division if purchases or redemptions into or out of the underlying Eligible Portfolio are made when, and if, the underlying Eligible Portfolio's investments do not reflect an accurate value (sometimes referred to as "time-zone arbitrage" and "liquidity arbitrage").

***Additional Benefits Through Riders and Options***

You can apply for additional benefits by selecting the policy options and/or the optional STR. We approve the issuance of the STR based on our standards and limits for issuing insurance and classifying risks. The STR provides a "Term Insurance Benefit" and is subject to the terms of both the Policy and the rider. The STR is not available to policyowners who elect the Guideline Premium Test. (See "Premium Payments" for more information.) Dollar Cost Averaging and Automatic Asset Allocation are options that are available without any additional ongoing costs. The following additional benefits are currently available.

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| | | | |
|:---|:---|:---|:---|
| **Name of Benefit** | **Purpose** | **Is this Benefit Standard or** <br> **Optional?**<br>| **Brief Description of** <br> **Restrictions/Limitations**<br>|
| **Dollar Cost** <br> **Averaging (DCA)**<br>| DCA is a systematic method <br> of investing that allows you <br> to purchase shares of the <br> Investment Divisions at <br> regular intervals in fixed <br> dollar amounts so that the <br> cost of your shares is <br> averaged over time and over <br> various market cycles. There <br> is no charge for electing <br> DCA.<br>| Optional | &nbsp;&nbsp;&nbsp; To set up DCA, in addition to <br> sending a completed DCA <br> form to our Service Office in <br> Good Order, you must <br> specify:<br>•the dollar amount you want <br> to have transferred <br> (minimum transfer $100);<br>•the Investment Division <br> from which you want to <br> transfer money;<br>•the Investment Division(s) <br> and/or Fixed Account to <br> which you want to transfer <br> money;<br>•the date on which you want <br> the transfers to be made, <br> within limits; and<br>•how often you would like <br> the transfers made, either <br> monthly, quarterly, <br> semi-annually, or annually.<br> You may not make DCA <br> transfers from the Fixed <br> Account, but you may <br> make DCA transfers into <br> the Fixed Account, subject <br> to any limits specified in <br> the section, "Description of <br> the Policy—Investment <br> Divisions and the Fixed <br> Account—Transfers Among <br> Investment Divisions and <br> the Fixed Account."<br> You may elect this option if <br> your Cash Value is $2,500 <br> or more. We will suspend <br> this option automatically if <br> the Cash Value is less than <br>|

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| | | | |
|:---|:---|:---|:---|
| **Name of Benefit** | **Purpose** | **Is this Benefit Standard or** <br> **Optional?**<br>| **Brief Description of** <br> **Restrictions/Limitations**<br>|
|  |  |  | &nbsp;&nbsp;&nbsp; $2,000 on a transfer date. <br> Once the Cash Value <br> equals or exceeds $2,000, <br> the DCA transfers will <br> resume automatically as <br> last requested.<br> You cannot elect Automatic <br> Asset Reallocation if you <br> have chosen DCA. <br> However, you have the <br> option of alternating <br> between these two Policy <br> options.<br>|
| **Automatic Asset** <br> **Reallocation (AAR)**<br>| If you choose this option, we <br> will reallocate your assets <br> automatically on a schedule <br> you select among the <br> Investment Divisions to <br> maintain a predetermined <br> percentage invested in the <br> Investment Division(s) you <br> have selected. For example, <br> you could specify that 50% of <br> the amount you have in the <br> Investment Divisions of the <br> Separate Account be <br> allocated to one Investment <br> Division, while the other 50% <br> be allocated to another <br> Investment Division. Over <br> time, however, performance <br> variations in each of these <br> Investment Divisions would <br> cause this balance to shift. <br> There is no charge for <br> electing AAR.<br>| Optional | &nbsp;&nbsp;&nbsp; •Values in the Fixed <br> Account are excluded from <br> AAR.<br>•Your AAR will be cancelled <br> if a premium allocation <br> change or Investment <br> Division transfer is <br> submitted on your behalf <br> and the AAR is not also <br> modified at the time to be <br> consistent with your <br> Investment Division <br> transfer and premium <br> allocation changes.<br>•You may elect this option if <br> your Cash Value in your <br> Separate Account is <br> $2,500 or more. We will <br> suspend this option <br> automatically if your Cash <br> Value in the Separate <br> Account is less than <br> $2,000 on a reallocation <br> date. Once your Cash <br> Value in the Separate <br> Account equals or exceeds <br> this amount, AAR will <br> resume automatically as <br> scheduled.<br>•You cannot elect AAR if <br> you have chosen DCA. <br> However, you have the <br> option of alternating <br> between these two Policy <br> options.<br>|
| **Loans** | You may borrow any amount <br> up to the Loan Value of the <br> Policy. The value in the Loan <br> Account will never be less<br>| Optional | &nbsp;&nbsp;&nbsp; •Loan requests are subject <br> to the Minimum <br> Redemption amount of <br> $500 per Investment <br>|

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| | | | |
|:---|:---|:---|:---|
| **Name of Benefit** | **Purpose** | **Is this Benefit Standard or** <br> **Optional?**<br>| **Brief Description of** <br> **Restrictions/Limitations**<br>|
|  | than (a + b) – c, where: a = <br> the amount in the Loan <br> Account on the prior Policy <br> Anniversary; b = the amount <br> of any loan taken since the <br> prior Policy Anniversary; and <br> c = any loan amount repaid <br> since the prior Policy <br> Anniversary.<br>|  | &nbsp;&nbsp;&nbsp; Division<br> •When you take a loan <br> against your Policy, the <br> loaned amount that we <br> hold in the Loan Account is <br> charged an Effective <br> Annual Loan Interest Rate <br> of 4.00%. The maximum <br> loan interest rate that we <br> will charge is 6.00%.<br>•When you take a loan <br> against your Policy, the <br> loaned amount that we <br> hold in the Loan Account <br> may also earn interest. <br> These rates may be <br> different from those we <br> charge you for loan <br> interest. They are not <br> guaranteed, and we can <br> change them at any time <br> subject to the minimums <br> described above.<br> (See "Charges Associated <br> with the Policy—Loan <br> Charges"; "Loans", <br> "Loans—Interest Credited <br> on the Cash Value Held as <br> Collateral for a Policy <br> Loan"; and "Table of Fees <br> and Expenses—Periodic <br> Charges Other than Funds' <br> Operating <br> Expenses—Loan Interest" <br> for more information.)<br>|
| **Supplementary** <br> **Term Rider (STR)**<br>| The STR provides a Term <br> Insurance Benefit, which <br> when added to the Base <br> Policy Face Amount, creates <br> a Target Face Amount. The <br> Term Insurance Benefit is <br> payable when the Insured <br> dies while the STR is in <br> effect. The Term Insurance <br> Benefit can be: increased or <br> decreased to change the <br> Target Face Amount; or <br> converted to increase the <br> Policy Face Amount.<br>| Optional | &nbsp;&nbsp;&nbsp; •Only available at issue.<br> •Not available to <br> policyowners who elect the <br> Guideline Premium Test.<br>•Target Face Amount may <br> not be decreased to an <br> amount below $26,000, <br> unless the decrease is due <br> to a partial surrender under <br> the Policy.<br>•Rider Face Amount may <br> not exceed 10 times the <br> base Policy's Face <br> Amount.<br>|

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*Dollar Cost Averaging* 

Dollar Cost Averaging is a systematic method of investing that allows you to purchase shares of the Investment Divisions at regular intervals in fixed dollar amounts so that the cost of your shares is averaged over time and over various market cycles. To set up Dollar Cost Averaging, you must send a completed Dollar Cost Averaging form to our Service Office in Good Order. There is no charge for electing Dollar Cost Averaging.

The main objective of Dollar Cost Averaging is to achieve an average cost per share that is lower than the average price per share in a fluctuating market. Because you transfer the same dollar amount to a given Investment Division with each transfer, you purchase more units in an Investment Division if the value per unit is low and fewer units if the value per unit is high. Therefore, you may achieve a lower than average cost per unit if prices fluctuate over the long term. Similarly, for each transfer out of an Investment Division, you sell more units in an Investment Division if the value per unit is low and fewer units if the value per unit is high. Dollar Cost Averaging does not assure growth or protect against a loss in declining markets.

We do not count Dollar Cost Averaging transfers against any limitations we may impose on the number of free transfers. We will make all Dollar Cost Averaging transfers on the date you specify, or if the date you specify is not a Business Day, on the next Business Day. You may specify any day of the month other than the 29th, 30th, or 31st of a month. We will not process a Dollar Cost Averaging transfer unless we have received a Request. We must receive this Request at least five Business Days before the date Dollar Cost Averaging transfers are scheduled to begin. If your Request for this option is received less than five Business Days prior to the date you request it to begin, the transfer(s) will begin on the date you have specified in the month following receipt of your Request.

You may cancel the Dollar Cost Averaging option at any time. To cancel the Dollar Cost Averaging option, we must receive a Request. You may not elect Dollar Cost Averaging if you have chosen Automatic Asset Reallocation. However, you have the option of alternating between these two Policy features.

*Automatic Asset Reallocation (AAR)* 

As noted above, if you choose this option, we will reallocate your assets automatically on a schedule you select among the Investment Divisions to maintain a predetermined percentage invested in the Investment Division(s) you have selected. To set up AAR, you must send a completed AAR form to our Service Office in Good Order. For example, you could specify that 50% of the amount you have in the Investment Divisions of the Separate Account be allocated to one Investment Division, while the other 50% be allocated to another Investment Division. Over time, however, performance variations in each of these Investment Divisions would cause this balance to shift. With the AAR option, we will reallocate the amount you have in the Separate Account among the Investment Divisions you have selected so that they are invested in the percentages you specify.

We will make AAR transfers either quarterly, semi-annually, or annually (but not monthly), based on your Policy Anniversary. If your Policy Anniversary is on the 29th, 30th, or 31st of a month, the reallocation transfer will occur on the 28th of the month. AAR transfers may be canceled subject to the terms outlined in the Table above. To process AAR transfers, or to cancel or modify an existing AAR, you must send a Request. NYLIAC must receive your Request no later than five Business Days prior to the date the transfer(s) are scheduled to begin. If your Request for this option is received less than five Business Days prior to the date you request it to begin, the transfer(s) will begin on the date you have specified in the month following receipt of your Request. There is no minimum amount which you must allocate among the Investment Divisions under this option. We do not count AAR transfers against any limitations we may impose on the number of free transfers.

*Supplementary Term Rider*

&nbsp;&nbsp;&nbsp;&nbsp;● This rider provides a Term Insurance Benefit that is payable when the Insured dies while this rider is in effect. It insures the same individual covered by the base Policy. On the Issue Date, the Term Insurance Benefit is the amount specified in the application. The initial Term Insurance Benefit is shown on the Policy Data Pages. The initial Term Face Amount, when added to the initial Face Amount of the base Policy, equals the initial Target Face Amount, which is also shown on the Policy Data Pages.

As described under the "Policy Payment Information—Life Insurance Benefit Options" section, the Life Insurance Benefit amount could automatically increase or decrease. In such case, the Term Insurance Benefit will automatically be adjusted.

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On each Monthly Deduction Day beginning with the second, the Term Insurance Benefit will automatically be set in accordance with the Life Insurance Benefit Option that is in effect on the Policy as follows:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;● Option 1—The Term Insurance Benefit will equal the Target Face Amount minus the Life Insurance Benefit.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;● Option 2—The Term Insurance Benefit will equal the Target Face Amount plus the Alternative Cash Surrender Value minus the Life Insurance Benefit.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;● Option 3—The Term Insurance Benefit will equal the Target Face Amount plus the Cumulative Premium Amount minus the Life Insurance Benefit.

However, if on a Monthly Deduction Day, the Term Insurance Benefit is automatically reduced to zero, the STR will still remain in force. If the Policy's Life Insurance Benefit subsequently decreases as described in Section 1.3 of the Policy, the Term Insurance Benefit will again be adjusted based on the Life Insurance Benefit Option specified.

Within certain limits, the policyowner may:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;● Increase or decrease the Term Insurance Benefit, which will result in a corresponding change to the Target Face Amount; and/or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;● Convert the STR to increase the Face Amount of the base Policy. The Target Face Amount of the Policy after this conversion will be the same as the Target Face Amount of the Policy before the conversion.

The policyowner may request changes to the Policy under the STR if:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) the Target Face Amount is not decreased to an amount below $26,000, unless the decrease is due to a partial surrender under the Policy.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) the Term Insurance Benefit does not exceed 10 times the base Policy's Face Amount. This requirement prohibits the policyowner from either increasing the Term Insurance Benefit or decreasing the base Policy's Face Amount to an amount that would violate this maximum ratio.

Coverage under the STR ends on the earliest of:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) the Monthly Deduction Day on or next following our receipt of the policyowner's signed Request to cancel the rider,

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) the Policy Anniversary on which the Insured's Attained Age is or would have been 100, as required by law,

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) the date the STR is fully converted,

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) the date the base Policy ends or is surrendered.

&nbsp;&nbsp;&nbsp;&nbsp;● *Example.* The following illustrates the benefit available under a Policy with the STR, assuming an Initial Term Face Amount of $100,000 as part of a Target Face Amount of $200,000, issued on a male Insured, aged 45,

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Non-Smoker, guaranteed issue, who dies at the beginning of Policy Year 10 under the rider, where Death Benefit Option 1 has been selected and Premium payments of $4,791 haven been paid annually for seven years.

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| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Policy Year** | &nbsp;&nbsp;&nbsp; **Annual Cost**<br> **of Insurance**<br> **Charge**<br>| &nbsp;&nbsp;&nbsp; **Total Cost**<br> **of Insurance**<br> **Charge**<br>| &nbsp;&nbsp;&nbsp; **Annual**<br> **Rider**<br> **Charge**<br>| &nbsp;&nbsp;&nbsp; **Total**<br> **Rider**<br> **Charge**<br>| &nbsp;&nbsp;&nbsp; **Life**<br> **Insurance**<br> **Benefit Paid**<br>| &nbsp;&nbsp;&nbsp; **Term**<br> **Insurance**<br> **Benefit Paid**<br>|
| 1 | $62.00 | $62.00 | $0.00 | $0.00 | $0 | $0 |
| 2 | $66.89 | $128.89 | $28.80 | $28.80 | $0 | $0 |
| 3 | $96.05 | $224.94 | $52.80 | $81.60 | $0 | $0 |
| 4 | $115.82 | $340.76 | $74.40 | $156.00 | $0 | $0 |
| 5 | $121.44 | $462.20 | $103.20 | $259.20 | $0 | $0 |
| 6 | $124.67 | $586.87 | $147.60 | $406.80 | $0 | $0 |
| 7 | $127.58 | $714.45 | $200.40 | $607.20 | $0 | $0 |
| 8 | $139.48 | $853.93 | $258.00 | $865.20 | $0 | $0 |
| 9 | $151.86 | $1005.79 | $284.40 | $1149.60 | $0 | $0 |
| 10 | $0.00 | $1005.79 | $0.00 | $1149.60 | $100000 | $100000 |

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*Term Rider vs. Base Policy Coverage:*

&nbsp;&nbsp;&nbsp;&nbsp;● You should consider a number of factors when deciding whether to purchase a Policy that includes Life Insurance Benefit coverage in conjunction with the STR. There can be some important cost differences.

*Sales Expense Charges*: If you compare a Policy with the STR to one that provides the same initial Life Insurance Benefit without the STR, the Policy with the STR may have a lower Target Premium and Sales Expense Charges may be lower. This is because Sales Expense Charges are based on the amount of the Target Premium. Generally, the higher the Premium you pay, the greater the potential cost savings and positive impact on Cash Value growth that a term rider, like the STR, may have. See "Charges Associated with the Policy—Deductions from Premium Payments—Sales Expense Charge" for a discussion of how Sales Expense Charges are calculated.

If lowering up front sales expense costs are important to you or if you plan to fund the Policy at certain levels, a Policy that provides coverage under the STR can help lower your initial costs and enhance overall Policy performance.

*Cost of Insurance Charges*: The current Cost of Insurance charges are different under base Policy coverage than under the STR. In general, these rates are lower for Life Insurance Benefit coverage provided under the STR than coverage under the base Policy for the first six to eight Policy Years. Usually, beginning in Policy Years seven through nine, the cost of insurance rates under the STR are higher than the Cost of Insurance charges under the base Policy. This can affect your Policy in different ways depending on the timing and amount of Premiums you pay into the Policy, in particular, during the period referenced above, as well as the Policy's actual investment performance.

If, during the life of the Policy, your Cash Value is at a low level either because your overall funding has been low or your actual investment experience has been poor, the negative impact of the higher Cost of Insurance charges on the Cash Value will be greater. Therefore, the lower the Premiums paid and/or the worse the actual investment experience, the greater possibility that a Policy with the STR will not perform as well as a Policy with base coverage only.

*Compensation for Policy Sales*: Generally, agents receive higher compensation for sales of the same Life Insurance Benefit through base Policy coverage than for sales of STR coverage. These compensation arrangements have the potential to influence the recommendations made by your registered representative or broker-dealer.

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You should review several illustrations with various combinations of base Policy and STR coverage using a variety of rates of return. Your choice as to how much term coverage you should elect should be based on your individual plans with respect to Premium amounts, level of risk tolerance, and the time you plan to hold the Policy. Please ask your registered representative to review your various options. For more information about comparing Policy and STR coverage, see the "Distribution and Compensation Arrangements" section.

***Attained Age 100 Policy Anniversary***

Beginning on the Policy Anniversary on which the Insured's Attained Age is 100, the Life Insurance Benefit will equal the Cash Value for all subsequent years, but the following limitations will apply:

&nbsp;&nbsp;&nbsp;&nbsp;(a) No further Planned or Unplanned Premiums will be allowed, except as needed to keep your Policy from lapsing, and no further deductions for Cost of Insurance charges will be made from the Cash Value. We will continue to deduct all other Monthly Deduction Charges.

&nbsp;&nbsp;&nbsp;&nbsp;(b) The amount in the Fixed Account will continue to accumulate interest.

&nbsp;&nbsp;&nbsp;&nbsp;(c) You may Request new Policy loans and loan interest will continue to accrue on any new and existing loans at the Effective Annual Loan Interest Rate. However, if the amount of the Policy Debt is greater than the Cash Value of your Policy, your Policy could lapse.

&nbsp;&nbsp;&nbsp;&nbsp;(d) Partial surrenders and loan repayments will continue to be allowed.

&nbsp;&nbsp;&nbsp;&nbsp;(e) Changes to the Life Insurance Benefit Option will not be allowed.

&nbsp;&nbsp;&nbsp;&nbsp;(f) The Policy may be surrendered for its proceeds by submitting a Notice to us.

&nbsp;&nbsp;&nbsp;&nbsp;(g) Any riders attached to your Policy will end, unless stated otherwise in the rider.

&nbsp;&nbsp;&nbsp;&nbsp;(h) Any assets in the Separate Account will continue to participate in the investment experience of the Investment Divisions.

&nbsp;&nbsp;&nbsp;&nbsp;(i) Transfers among the Allocation Alternatives will continue to be allowed, subject to the limitations described in this prospectus. Please refer to "Description of the Policy—Investment Divisions and the Fixed Account—Transfers Among Investment Divisions and the Fixed Account" for more information on these limitations.

Your Policy may not qualify as life insurance after the Insured's Attained Age 100 under federal tax law and may be subject to adverse tax consequences. Please consult your tax advisor before choosing to continue the Policy or take a Policy loan after Attained Age 100.

If your Policy is still in effect when the Insured dies, we will pay the Life Insurance Proceeds to the beneficiary.

***Tax-Free "Section 1035" Insurance Policy Exchanges***

Generally, you may exchange one life insurance policy for another in a "tax-free exchange" under Section 1035 of the IRC. However, because we have discontinued sales of this Policy, you may not exchange another Policy for one described in this prospectus. Before making an exchange, you should compare both policies carefully. Remember that if you exchange another policy for the one described in this prospectus, you might have to pay a surrender charge on your existing Policy and you will have to pay sales expense charges on the new Policy (See "Charges Associated with the Policy—Deductions from Premium Payments—Sales Expense Charge" for more information). Also, some charges may be higher (or lower) and the benefits may be different. If the exchange does not qualify for Section 1035 treatment, you may have to pay federal income and penalty taxes on the exchange. You should not exchange one Policy for another unless you determine, after knowing all of the facts that the exchange is in your best interest.

Because the final surrender value of your existing Policy will be calculated once the new life insurance Policy has been approved for issuance, this final surrender value may be affected by increases or decreases in Policy values that result from market fluctuations during the period between submission of the exchange Request and actual processing. The final surrender value may be calculated several Business Days after we receive your exchange Request. Please consult your current insurer for options to potentially mitigate market exposure during this period. In addition, as we

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will not issue the new Policy until we have received an initial premium from your existing insurance company, the issuance of the Policy in an exchange could be delayed.

***24 Month Exchange Privilege***

Within the first 24 months after the Issue Date of your Policy, if you decide that you do not want to own your Policy, you may exchange it for a policy on the life of the Insured without evidence of insurability.

The new policy will be on a permanent plan of life insurance, which we were offering for this purpose on the Issue Date of the existing Policy. The new policy will have a face amount equal to the initial Face Amount of your existing Policy. It will be based on the same Policy Date, Insured's class of risk, gender, and issue age, but will not offer variable Allocation Alternatives, such as Investment Divisions. The new policy will have the same provisions and be subject to the same limitations as are in the series of permanent plan life insurance policies being issued by us on that date. Any riders attached to the existing Policy will end on the date of exchange, unless we agree otherwise.

To exchange your Policy:

&nbsp;&nbsp;&nbsp;&nbsp;● your Policy must be in effect on the date of the exchange;

&nbsp;&nbsp;&nbsp;&nbsp;● you must repay any Policy Debt;

&nbsp;&nbsp;&nbsp;&nbsp;● you must send a Request to our Service Office; and

&nbsp;&nbsp;&nbsp;&nbsp;● if necessary, we will require you to make any adjustment between the premiums and Cash Values of the existing Policy and the new policy.

You will have to pay any sales expense charges imposed by the new policy. Upon an exchange of a Policy, the STR and all benefits will end unless we agree otherwise or unless required under state law.

On the Business Day we receive a Request for an exchange, the Cash Value of the Policy will be transferred into the Fixed Account, where it will remain until these requirements are met. The date of exchange will be the later of: (a) the Business Day the policyowner sends the Policy to our Service Office along with a Request; or (b) the Business Day we receive the Policy at our Service Office and the necessary payment for the exchange, if any. Requests received after 4:00 p.m. (Eastern Time) on a Business Day, or on a non-Business Day, will be processed as of the next Business Day.

Policy values may increase or decrease due to market fluctuations during the period between submission of the exchange Request and the issuance of the new policy, which could affect the Cash Value applied to your new policy.

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**Loans**

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On or after the first Policy Anniversary and using the Policy as sole security, you may borrow any amount up to the Loan Value of the Policy. The value in the Loan Account will never be less than (a + b) - c, where:

a = the amount in the Loan Account on the prior Policy Anniversary;

b = the amount of any loan taken since the prior Policy Anniversary; and

c = any loan amount repaid since the prior Policy Anniversary.

The effective date of the loan is the Business Day we receive your loan Request, if we receive it before the close of regular trading on the NYSE, generally 4 P.M. EST. Requests received after the NYSE closes are effective the next Business Day.

Generally, we will disburse your loan in one lump sum within seven days after we receive all necessary documentation and information in Good Order. However, we may delay payment under certain circumstances. (See "Policy Payment Information—When We Pay Policy Proceeds" for more information.)

***Your Policy as Collateral for a Loan***

Your Policy will be used as collateral to secure your loan. Any amount that secures a loan remains part of your Policy's Cash Value but is transferred to the Loan Account. We credit any amount that secures a loan (the loaned amount) with an interest rate that we expect to be different from the interest rate we credit on the Fixed Account.

The Loan Account secures any Policy Debt and is part of our General Account. When you Request a loan or when outstanding interest is added to and becomes part of a loan (Policy Debt), a transfer of funds will be made from the Allocation Alternatives so that the Cash Value in the Loan Account is at least 100% of the requested loan plus any existing Policy Debt. When you request a loan, you may specify the Allocation Alternatives from which the transfer should occur. If you do not specify the source, the transfer amount will be deducted pro-rata from the Allocation Alternatives.

If the requested loan exceeds the amount invested in the specified Allocation Alternatives, the balance will be transferred pro-rata from your assets in the remaining Allocation Alternatives you have.

Transfers from the Allocation Alternatives to the Loan Account are subject to the Minimum Redemption amount of $500 per Investment Division. See "Description of the Policy—Investment Divisions and the Fixed Account—Transfers Among the Investment Divisions and the Fixed Account.")

On each Policy Anniversary, if the Policy Debt exceeds the amount in the Loan Account, the excess amount will be transferred from the Allocation Alternatives on a pro rata basis to the Loan Account. On each Policy Anniversary, if the amount in the Loan Account exceeds the Policy Debt, the excess will be transferred from the Loan Account to the Allocation Alternatives in accordance with the instructions we have on file.

We reserve the right to do this on a monthly basis. Amounts will first be transferred to the Fixed Account up to an amount equal to the total amounts that had previously been transferred from the Fixed Account to the Loan Account. Any additional amounts being transferred out of the Loan Account will be allocated according to the policyowner's Premium allocation in effect at the time of transfer unless the policyowner tells us otherwise

***Loan Interest***

While the guaranteed maximum annual loan interest rate is 6.00%, we currently charge an Effective Annual Loan Interest Rate of 4.00%, payable in arrears. Loan interest accrues each day and is compounded annually. Any loan interest that you do not pay as of the Policy Anniversary will become part of the loan, and will also accrue interest. An amount may need to be transferred to the Loan Account to cover this increased loan amount.

On the date of death, the date the Policy ends, the date of a loan repayment, or on any other date we specify, we will make any adjustment in the loan that is required to reflect any interest paid for any period beyond that date.

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If we have set a rate lower than 6.00% per year, any subsequent increase in the interest rate will be subject to the following conditions:

&nbsp;&nbsp;&nbsp;&nbsp;(1) The effective date of any increase in the interest rate for loans will not be earlier than one year after the effective date of the establishment of the previous rate.

&nbsp;&nbsp;&nbsp;&nbsp;(2) The amount by which the interest rate can be increased will not exceed one percent per year, but the interest will in no event ever exceed 6.00%.

&nbsp;&nbsp;&nbsp;&nbsp;(3) We will give notice of the interest rate in effect when a loan is made and when sending notice of loan interest due.

&nbsp;&nbsp;&nbsp;&nbsp;(4) If a loan is outstanding 40 days or more before the effective date of an increase in the interest rate, we will notify the Policyowner of that increase at least 30 days prior to the effective date of the increase.

&nbsp;&nbsp;&nbsp;&nbsp;(5) We will give notice of any increase in the interest rate when a loan is made during the 40 days before the effective date of the increase.

***Loan Repayment***

All or part of an unpaid loan can be repaid before the Insured's death or before the Policy is surrendered. When a loan repayment is made, we will transfer immediately the excess amount in the Loan Account resulting from the loan repayment in accordance with the procedures set forth under "Loan Account" above. We will also transfer excess amounts in the Loan Account resulting from interest accrued in accordance with those procedures. Payments received by NYLIAC will be applied as directed by the policyowner.

***Interest Credited on the Cash Value Held as Collateral for a Policy Loan***

When you take a loan against your Policy, the loaned amount that we hold in the Loan Account may earn interest at a different rate from the Effective Annual Loan Interest Rate. The rate on the Loan Account may also be different from the rate we credit on amounts in the Fixed Account. We guarantee that the rate we credit on the Loan Account will never be less than the greater of (1) the Effective Annual Loan Interest Rate, less 2.00%; or (2) the GMIR we credit to the Fixed Account. Interest accrues daily and is credited on each Monthly Deduction Day.

For the first ten Policy Years, the rate we currently expect to credit on loaned amounts is 0.50% less than the Effective Annual Loan Interest Rate we charge. Beginning on the eleventh Policy Year, the rate we currently expect to credit on loaned amounts is 0.05% less than the Effective Annual Loan Interest Rate we charge. These rates are not guaranteed and we can change them at any time, subject to the above-mentioned minimums.

***Excess Loan Condition***

If the Policy Debt is greater than the Cash Value, we will mail a notice to you at your last known address. We will also send a copy of the notice to the last known assignee, if any, on our records. If you do not pay the excess of the Policy Debt over the Cash Value within 31 days after the day we mail you this notice, we will terminate your Policy. This could result in a taxable gain and penalty tax to you. (See "Termination and Reinstatement—Reinstatement Option.")

***The Effect of a Policy Loan***

A loan, repaid or not, has a permanent effect on your Cash Value. This effect occurs because the amounts borrowed are removed from your Investment Divisions (which receive investment performance) and placed in the Loan Account (which earns interest at a fixed rate). Investment results will apply only to the amounts remaining in your Investment Divisions. The longer a loan is outstanding, the greater the effect on your Cash Value. The effect could be favorable or unfavorable. If the Investment Divisions earn more than the annual interest rate credited to the Loan Account, your Cash Value will not increase as rapidly as it would have had no loan been made. If the Investment Divisions earn less than the interest credited to the Loan Account, then your Cash Value may be greater than it would have been had no loan been made. If not repaid, the aggregate amount of the Policy Debt will reduce the Cash Surrender Value and the Life Insurance Proceeds that might otherwise be payable.

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In addition, to the extent that a loan is not paid and the accrued interest is added to the Policy Debt, that interest becomes unpaid capitalized loan interest. Unpaid capitalized loan interest generally will be treated as a new loan under the IRC. If the Policy is a modified endowment contract, a loan may result in taxable income and penalty taxes to you. In addition, for all Policies, if the loans taken, including unpaid loan interest, exceed the Cumulative Premium Amount, Policy surrender or Policy lapse will result in a taxable gain to you. Finally, it is possible that a loan could be treated as a taxable distribution if there is no spread or a very small spread between the interest rate charged on the loan and the interest rate credited to the Loan Account. (See "Federal Income Tax Considerations" for more information.)

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**Premiums**

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Premium payments are classified as Planned or Unplanned Premiums.

The current available methods of payment are: direct payment to NYLIAC or any other method agreed to by us.

No Premium payment, Planned or Unplanned, may be in an amount that would jeopardize the Policy's qualification as life insurance under Section 7702 of the IRC.

Subsequent Premium payments must be sent to our Service Office in Good Order. You can call our Service Office to determine if we have received your Premium payment.

**Acceptance of initial and subsequent Premium payments is subject to the sales standards of the selling broker-dealer (including those of our affiliated broker-dealer, NYLIFE Securities).**

***Planned Premium***

When you apply for your Policy, you select a Premium payment schedule, which indicates the amount and frequency of Premium payments you intend to make, subject to the limits that we may set. The Premium amount you select for this schedule is called your "Planned Premium." It is shown on your application. Factors that should be considered in determining your Premium payment are: age, underwriting class, gender, Policy Face Amount, Investment Division performance, and loans.

You may make Planned Premium payments at any time up to the Policy Anniversary on which the Insured's Attained Age is 100. However, if payment of a Planned Premium will cause the Life Insurance Benefit of your Policy to increase more than the Alternative Cash Surrender Value will increase, we may refuse that payment. In addition, we may require proof of insurability before accepting that payment and applying it to your Policy. If we require such proof, we will require a written application and will place a copy of that application in the Policy and make it a part of your Policy. There is no penalty if a Planned Premium is not paid, since Premium payments, other than the first Premium payment, are not specifically required. Paying Planned Premiums does not guarantee coverage for any period of time. Instead, the duration of the Policy depends upon the Cash Surrender Value. We will require one or more additional Premium payments in the circumstance where the Cash Surrender Value of your Policy is determined to be insufficient to pay the charges needed to keep your Policy in effect. Should the additional payment(s) not be made, your Policy will lapse. See: "Termination and Reinstatement" below.

***Unplanned Premium***

An Unplanned Premium is a payment you make that is not part of the Premium schedule you choose.

&nbsp;&nbsp;&nbsp;&nbsp;● While the Insured is living, you may make Unplanned Premium payments at any time before the Policy Anniversary on which the Insured's Attained Age is 100. Unplanned Premium payments may only be made after the Attained Age 100 Policy Anniversary in order to keep the policy from lapsing.

&nbsp;&nbsp;&nbsp;&nbsp;● If payment of an Unplanned Premium would result in an increase in the Life Insurance Benefit greater than the increase in the Alternative Cash Surrender Value, we may refuse it. In addition, we may require proof of insurability before accepting that payment and applying it to your Policy. If we require such proof, we will require a written application and will place a copy of that application in the Policy and make it a part of the Policy. The Life Insurance Benefit increase may be necessary for your Policy to continue to qualify as life insurance under IRC Section 7702.

&nbsp;&nbsp;&nbsp;&nbsp;● If a Premium payment would cause total Premium payments in a Policy Year to exceed the Planned Premium amount for that Policy Year, the excess is Unplanned Premium, even if you made a partial surrender from the Policy during that Policy Year.

***Risk of Minimally Funded Policies***

You may make additional Planned or Unplanned Premium payments at any time until the Policy Anniversary when the Insured's Attained Age is 100. We will require one or more additional Premium payments in the circumstance where the Cash Surrender Value of your Policy is determined to be insufficient to pay the charges needed to keep your Policy in effect. In such event, you may want to consider paying more Premium than requested to account for the

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impact of potential market fluctuations and performance-related risks on your Cash Value. Should the additional payment(s) not be made, your Policy will lapse.

Although Premium payments are flexible, you may need to make subsequent Premium payments so that the Cash Surrender Value of your Policy is sufficient to pay the charges needed to keep your Policy in effect. In addition, by paying only the minimum Premium required to keep the Policy in force, you may forego the opportunity to build up significant Cash Value in the Policy. A Policy that is maintained with a Cash Surrender Value just sufficient to cover deductions and charges or that is otherwise minimally funded is more likely to be unable to maintain its Cash Surrender Value due to market fluctuations and performance-related risks. When determining the amount of your Planned Premium payments, you should consider funding your Policy at a level that has the potential to maximize the investment opportunities within your Policy and to minimize the risks associated with market fluctuations. (Your Policy can lapse even if you pay all of the Planned Premiums on time.)

***Timing and Valuation***

Your Premium will be credited to your Policy on the Business Day that it is received at our Service Office in Good Order, assuming it is received prior to the close of regular trading on the NYSE, generally 4:00 p.m. Eastern Time. Any Premiums received in Good Order after that time will be credited to your Policy on the next Business Day.

The Portfolio assets making up the Investment Divisions will be valued only on those days that the NYSE is open for trading. Generally, the NYSE is closed on Saturdays, Sundays, and major U.S. holidays.

***Free Look***

You have the right to cancel your Policy, within certain limits. Under the free look provision of your Policy, in most jurisdictions, you have 10 days after you receive your Policy to return it and receive a refund. (See "State Variations" for state-by-state details.) To receive a refund, you must return the Policy in Good Order to our Service Office (or any other address we indicate to you in writing) or to the registered representative from whom you purchased the Policy within 10 days of receiving the Policy, along with a Request for cancellation.

We will allocate Premium payments you make with your application or during the free look period to the General Account until the end of the free look period, unless we have specified otherwise in the "State Variations" section. After the end of the free look period, or the date we receive your Policy delivery receipt, whichever is later, we will then allocate the Net Premium plus any accrued interest to the Investment Divisions of the Separate Account or the Fixed Account according to the instructions in your Premium Allocation Form. If you cancel your Policy, we will pay you, as of the Business Day either our Service Office or the registered representative through whom you purchased it receives the Policy along with the Request for cancellation, the greater of (a) your Policy's Cash Value as of the date the Policy is returned or (b) the total Premium payments you have made, less Policy Debt and any partial surrenders you have taken. The Alternative Cash Surrender Value does not apply if you exercise this "free look" or right to cancel.

***Premium Payments***

Premium payments should be mailed to our Service Office. **Acceptance of initial and subsequent Premium payments (whether Planned or Unplanned) are subject to the Sales Standards of the selling broker-dealer (including those of our affiliated broker-dealer, NYLIFE Securities).** 

The currently available methods of payment are: direct payment to NYLIAC and any other method to which we agree.

We apply the Net Premium to the Investment Divisions and/or Fixed Account, according to your instructions on the Premium allocation form that we have on file.

If you elect the GPT to determine whether your Policy qualifies as life insurance under IRC Section 7702, we may limit your Premium payments. If the Premiums paid during any Policy Year exceed the maximum amount permitted under the GPT, we will return to you the excess amount within 60 days after the end of the Policy Year. The excess amount of the Premiums we return to you will not include any gains or losses attributable to the investment return on those Premiums. We will credit interest at a rate of not less than 3.00% on those Premiums from the date such Premiums cause the Policy to exceed the amount permitted under the GPT to the date we return the Premiums to

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you. (See "Policy Payment Information—Life Insurance Benefit Options" for more information). You may call our Service Office to determine whether an additional Premium payment would be allowed under your Policy.

You may change the Premium allocation any time you make a subsequent Premium payment by submitting a revised Premium allocation form to our Service Office in Good Order. Your revised Premium allocation selection will be effective as of the Business Day we receive the revised Premium allocation at our Service Office in Good Order. Premium allocation selections received after market close will be effective the next Business Day. The allocation percentages must total 100% and be in whole numbers or, if needed, may contain up to two decimal places.

***Premium Payments Returned for Insufficient Funds***

If your Premium payment is returned for insufficient funds, we will reverse allocations to the Allocation Alternatives chosen and reserve the right to charge you a $20 fee for each returned payment. In addition, the affected Eligible Portfolio may also redeem shares to cover any losses it incurs as a result of a returned payment. If two consecutive payments by check are returned for insufficient funds, the privilege to pay by check will be suspended until such time as we agree to reinstate it.

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**Policy Payment Information**

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***When Life Insurance Coverage Begins***

Insurance coverage under the Policy will begin on the later of the Policy Date or the date we receive the first Planned Premium payment in Good Order.

The Monthly Deduction Charges will begin on the first Monthly Deduction Day, which will be the monthly anniversary of the Policy Date.

***Changing the Face Amount of Your Policy***

You may increase or decrease the Face Amount of your Policy on or after the first Policy Anniversary, subject to the minimum Face Amount limitations and minimum Face Amount increase and decrease amounts shown in your Policy. If you increase the Face Amount, you may be subject to increased Cost of Insurance rates which in no event will be higher than the Maximum Cost of Insurance Rates on your Policy Data Pages. The Face Amount of your Policy affects the Life Insurance Benefit to be paid. To increase the Face Amount of your Policy, you must send a Request. We may require a written application, signed by you and the Insured, and proof of insurability to increase the Face Amount. Any increase in Face Amount will be subject to our approval and the limits we set. If we approve an increase, we will increase the Face Amount on the Monthly Deduction Day on or after the Business Day we approve the increase. Any increase in Face Amount that occurs automatically and without your Request is not subject to evidence of insurability.

You should consider the following consequences when increasing the Face Amount of your Policy:

&nbsp;&nbsp;&nbsp;&nbsp;● possible increased monthly Cost of Insurance charges;

&nbsp;&nbsp;&nbsp;&nbsp;● a new suicide and contestability period applicable only to the amount of the increase;

&nbsp;&nbsp;&nbsp;&nbsp;● a change in the life insurance percentage applied to the entire Policy under Section 7702 of the IRC; and

&nbsp;&nbsp;&nbsp;&nbsp;● a possible new seven-year testing period for modified endowment contract status.

The minimum amount allowed for an increase in Face Amount is $1,000. We do not charge a fee for a Face Amount increase.

In addition, on or after the first Policy Anniversary, you may Request a decrease in the Face Amount of your Policy. A decrease in the Face Amount is effective on the Monthly Deduction Day on or after the Business Day we receive the policyowner's Request for the decrease. You should consider the following possible consequences when decreasing the Face Amount of your Policy:

&nbsp;&nbsp;&nbsp;&nbsp;● a change in the total Policy monthly Cost of Insurance charges;

&nbsp;&nbsp;&nbsp;&nbsp;● possible force-outs of Premium if Premiums paid exceed the GPT; and

&nbsp;&nbsp;&nbsp;&nbsp;● adverse tax consequences.

The decrease will first be applied to reduce the most recent increase in Face Amount. It will then be applied to reduce other increases in the Face Amount and then to the initial Face Amount in the reverse order in which they took place. Decreases are subject to the minimum Face Amount specified in your Policy. The minimum amount allowed for a decrease in Face Amount is $1,000. We do not charge a fee for a Face Amount decrease.

The policyowner may change the Face Amount while the Insured is living, but only if the Policy will continue to qualify as life insurance under IRC Section 7702 after the change is made. An increase or decrease in Face Amount (or, for policyowners who have elected to include the STR, the Target Face Amount) will cause a corresponding change in the Target Premium.

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***Life Insurance Proceeds***

We will pay proceeds to your beneficiary in one sum when we receive satisfactory proof that the Insured died while the Policy is in effect. These proceeds will equal:

1) the Life Insurance Benefit calculated under the Life Insurance Benefit Option you have chosen, valued as of the date of death;

plus 2) any additional death benefits available under the STR, if elected;

less 3) any Policy Debt; and

less 4) any unpaid Monthly Deduction Charges.

We will pay interest on these proceeds from the date the Insured died until the date we pay the proceeds. Interest will accrue at the rate we set each year. It will not be less than that required by law. See "Policy Payment Information—Life Insurance Benefit Options" for more information. We will generally pay a higher rate of interest than the interest we set, beginning 31 calendar days from the latest of:

&nbsp;&nbsp;&nbsp;&nbsp;a)

the date that we receive due proof of the Insured's death in Good Order;

&nbsp;&nbsp;&nbsp;&nbsp;b)

the date that we receive sufficient information to determine our liability, the extent of that liability, and the appropriate payee legally entitled to the Life Insurance Proceeds; and

&nbsp;&nbsp;&nbsp;&nbsp;c)

the date that legal impediments to payment of Life Insurance Proceeds that depend on the action of parties other than us are resolved and sufficient evidence of the same is provided to us. Legal impediments to payment include, but are not limited to, the establishment of guardianships and conservatorships, the appointment and qualification of trustees, executors and administrators, and the submission of important information required to satisfy state and federal reporting requirements.

See your Policy and "State Variations" for more information.

**Beginning on the Policy Anniversary on which the Insured's Attained Age is 100, the Face Amount, as shown on the Policy Data Pages, will no longer apply. Instead, the Life Insurance Benefit under the Policy will equal the Cash Value. We will reduce the amount of the Life Insurance Proceeds by any Policy Debt. Also, no further monthly deductions will be made for the Cost of Insurance charge. For more information about your Policy as of the Policy Anniversary when the Insured's Attained Age is 100, see "Description of the Policy—Attained Age 100 Policy Anniversary." The federal income tax treatment of a life insurance policy is uncertain after the Insured's Attained Age is 100. See "Federal Income Tax Considerations."** 

Every state has unclaimed property laws, which generally declare a life insurance policy to be abandoned after a period of inactivity of three to five years from the date the Insured's Attained Age is 100 or the date the Life Insurance Benefit is due and payable. For example, if the payment of a Life Insurance Benefit has been triggered, but, if after a thorough search, we are unable to locate the beneficiary of the Life Insurance Benefit, or the beneficiary does not come forward to claim the Life Insurance Benefit in a timely manner, the Life Insurance Benefit may be paid to the abandoned property division or unclaimed property office of the state in which the beneficiary or the Insured last resided, as shown on our books and records, or to Delaware (our state of domicile). This escheatment is revocable, however, and the state is obligated to pay the Life Insurance Benefit (without interest) if your beneficiary steps forward to claim it with the proper documentation. To prevent such escheatment, it is important that you update your beneficiary designation, including addresses, if and as they change. Please contact us at 1(888) 695-4748 or send a Notice to our Service Office (or any other address we indicate to you in writing) to make such changes.

***Payees***

The beneficiary is the person(s) or entity(ies) you have specified in our records to receive the Life Insurance Proceeds from your Policy. You have certain options regarding the Policy's beneficiary:

&nbsp;&nbsp;&nbsp;&nbsp;● You name the beneficiary when you apply for the Policy. The beneficiary will receive the Life Insurance Proceeds after the Insured dies.

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

&nbsp;&nbsp;&nbsp;&nbsp;● You may elect to have different classes of beneficiaries, such as primary and secondary, where these classes determine the order of payment. You may identify more than one beneficiary per class.

&nbsp;&nbsp;&nbsp;&nbsp;● To change a revocable beneficiary while the Insured is living, you must send a Request. Generally, the change will take effect as of the date the Request is signed, unless otherwise specified by the policyowner and subject to any payments we made or actions we have already taken.

&nbsp;&nbsp;&nbsp;&nbsp;● If no beneficiary is living when the Insured dies, we will pay the Life Insurance Proceeds to you (the policyowner) or if you are deceased, to your estate or your successor in interest, unless we have other instructions from you to do otherwise.

You may name only those individuals who are able to receive payments on their own behalf as payees or successor payees, unless we agree otherwise. We may require proof of the age of the payee or proof that the payee is living. If we still have an unpaid amount, or there are some payments which still must be made when the last surviving payee dies, we will pay the unpaid amount with interest to the date of payment, or pay the present value of the remaining payments, to that payee's estate. We will make this payment in one sum. The present value of the remaining payments is based on the interest rate used to compute them, and is always less than their sum.

***How We Will Pay Life Insurance Proceeds***

We will pay the Life Insurance Proceeds in a lump sum. After the death of the Insured, we will pay the beneficiary a single check for the amount of the Life Insurance Proceeds. Any Life Insurance Proceeds paid in one sum will include interest from the date of the Insured's death to the date of payment. We set the interest rate each year. The rate will be at least the rate required by law.

***When We Pay Policy Proceeds***

If the Policy is still in effect, we will pay any Cash Surrender Value or, if applicable, Alternative Cash Surrender Value, partial surrenders, loan proceeds, or the Life Insurance Proceeds generally within seven days after we receive all of the necessary requirements at our Service Office in Good Order.

Under the following situations, payment of proceeds may be delayed:

&nbsp;&nbsp;&nbsp;&nbsp;● We may delay payment of any loan proceeds attributable to the Separate Account, any partial surrenders from the Separate Account, the Cash Surrender Value, the Alternative Cash Surrender Value, or the Life Insurance Proceeds during any period that:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) we are unable to determine the amount to be paid because the NYSE is closed (other than customary weekend and holiday closings), trading is restricted by the SEC, an emergency exists, or an Eligible Portfolio suspends redemptions pursuant to SEC Rules 2a-7 or 22e-3 under the 1940 Act or otherwise; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2) the SEC, by order, permits us to delay payment in order to protect our policyowners.

&nbsp;&nbsp;&nbsp;&nbsp;● We may delay payment of any portion of any loan, CVE, or surrender Request, including Requests for partial surrenders, from the Fixed Account for up to six months from the date we receive your Request.

&nbsp;&nbsp;&nbsp;&nbsp;● We may delay payment of the entire Life Insurance Proceeds if we contest the payment. We investigate all death claims that occur within the two-year contestable period. Upon receiving information from a completed investigation, we will make a determination, generally within five days, as to whether the claim should be authorized for payment. Payments are made promptly after the authorization.

&nbsp;&nbsp;&nbsp;&nbsp;● Federal laws made to combat terrorism and prevent money laundering by criminals might, in certain circumstances, require us to reject a premium payment and/or "freeze" a policy. If these laws apply to a particular policy(ies), we would not be allowed to pay any Request for transfers, partial surrenders, surrenders, loans, or Life Insurance Proceeds. If a policy or an account is frozen, the Cash Value would be moved to a special segregated interest-bearing account and held in that account until we receive instructions from the appropriate federal regulator.

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

&nbsp;&nbsp;&nbsp;&nbsp;● If you have submitted a recent check or draft, we have the right to defer payment of any surrenders, loans, Life Insurance Proceeds, or amounts due pursuant to the free look provision until such check or draft has been honored. It may take up to 15 days for a check to clear through the banking system.

We will pay interest on Life Insurance Proceeds from the date the Insured died until the date we pay the proceeds. Under certain circumstances, we may pay additional interest, as described in "Policy Payment Information—Life Insurance Proceeds." We set the interest rate each year. It will not be less than that required by law.

***Life Insurance Benefit Options***

Under your Policy, the Life Insurance Benefit depends on the Life Insurance Benefit Option you choose. Your Policy offers three options:

**Option 1—**The Life Insurance Benefit under this option is equal to the greater of (a) the Face Amount of the Policy or (b) a percentage of the Alternative Cash Surrender Value, equal to the minimum necessary for this Policy to qualify as life insurance under Section 7702 of the IRC.

**Option 2—**The Life Insurance Benefit under this option is equal to the greater of (a) the Face Amount of the Policy plus the Alternative Cash Surrender Value, or (b) a percentage of the Alternative Cash Surrender Value, equal to the minimum necessary for this Policy to qualify as life insurance under Section 7702 of the IRC.

**Option 3—**The Life Insurance Benefit under this option is equal to the greater of (a) the Face Amount of the Policy plus the Cumulative Premium Amount or (b) a percentage of the Alternative Cash Surrender Value, equal to the minimum necessary for this Policy to qualify as life insurance under Section 7702 of the IRC.

The Cash Value and, if applicable, the Alternative Cash Surrender Value will fluctuate due to the performance results of the Investment Divisions you choose. The value of any benefit provided by the STR is added to the amount of the Life Insurance Benefit. We subtract any Policy Debt and any Monthly Deduction Charges incurred but not yet deducted, and then credit any applicable interest on the balance. We pay interest on the Life Insurance Proceeds from the date of death to the date we pay the Life Insurance Proceeds. We set the interest rate each year. It will not be less than that required by law.

Under IRC Section 7702, a Policy may be treated as life insurance for federal tax purposes if at all times it meets either the GPT or the CVAT. Under any of the Life Insurance Benefit Options, the Life Insurance Benefit cannot be less than the Policy's Alternative Cash Surrender Value, times a percentage determined from the appropriate IRC Section 7702 qualification test. You may choose either the GPT table or CVAT before the Policy is issued. Once the Policy is issued, you may not change to a different test. The Life Insurance Benefit will vary depending on which test is used. You can find the table that contains the percentages for the applicable test in the Policy Data Pages.

The GPT has two components, a premium limit component and a corridor component. The premium limit restricts the amount of premium that can be paid into a Policy. The corridor requires that the Life Insurance Benefit be at least a certain percentage (varying each year by the Insured's Attained Age) of the Alternative Cash Surrender Value. The CVAT does not have a premium limit, but does have a corridor that requires that the Life Insurance Benefit be at least a certain percentage (varying based on Attained Age, gender, and risk class of the Insured) of the Alternative Cash Surrender Value.

The corridor under the CVAT is different than the corridor under the GPT. Specifically, because the percentages used for the GPT corridor are lower than under the CVAT, a GPT corridor policy must attain a higher level of Alternative Cash Surrender Value before the relevant IRC table will result in an automatic Life Insurance Benefit increase. Any such automatic increase in the Life Insurance Benefit may result in additional Cost of Insurance charges. Therefore, a CVAT policy is more likely to incur such additional charges than a GPT policy.

In deciding whether or not to choose the CVAT, you should consider that the CVAT generally permits more Premiums to be contributed to a Policy, but may require the Policy to have a higher Life Insurance Benefit. (See below for examples of the impact of these tests on sample Life Insurance Benefit Options.)

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Assuming your Life Insurance Benefit does not increase to meet the requirements of IRC Section 7702, and assuming the same Face Amount and Premium payments under these options:

&nbsp;&nbsp;&nbsp;&nbsp;● If you choose Option 1, your Life Insurance Benefit will not vary in amount, and generally you will have lower total Policy Cost of Insurance charges and lower Life Insurance Proceeds than under Options 2 or 3.

&nbsp;&nbsp;&nbsp;&nbsp;● If you choose Option 2, your Life Insurance Benefit will vary with your Policy's Cash Value and you will generally have higher total Policy Cost of Insurance charges and higher Life Insurance Proceeds than under Option 1. While this option may allow you to accumulate Cash Value, the Life Insurance Benefit will be subject to an investment risk.

&nbsp;&nbsp;&nbsp;&nbsp;● If you choose Option 3, your Life Insurance Benefit will vary with your Policy's Cumulative Premium and you will generally have higher total Policy Cost of Insurance charges and higher Life Insurance Proceeds than under Option 1. While this option does not subject you to the investment risk that could result from electing Option 2, it may not provide you with the potential to maximize investment opportunities.

The Life Insurance Benefit Option you choose will affect your Policy's Target Premium via its constituent Face Amount (See "Distribution and Compensation Arrangements" for more information). As Target Premiums, in turn, affect the amount of compensation received by your registered representative, they have the potential to influence the recommendation made by your registered representative or broker-dealer as to the Face Amount that will form part of the Life Insurance Benefit Option you choose.

There is no minimum Life Insurance Proceeds guarantee associated with the Policy.

Tax law provisions relating to "employer-owned life insurance contracts" may impact whether and to what extent the Life Insurance Proceeds may be received on a tax-free basis. You may be required to take certain actions before acquiring the Policy to ensure that such benefit may be received on a tax-free basis. See the discussion under "Federal Income Tax Considerations—Life Insurance Status of Policy" and "—IRC Section 101(j)—Impact on Employer-Owned Policies" for more information.

***Effect of Investment Performance on the Life Insurance Benefit***

Positive investment experience in the Investment Divisions may result in a Life Insurance Benefit that will be greater than the Face Amount, but negative investment experience will never result in a Life Insurance Benefit that will be less than the Face Amount, so long as the Policy remains in force.

*Example 1*: The following example shows how the Life Insurance Benefit varies as a result of investment performance on a Policy, assuming that Life Insurance Benefit Option 1 and the GPT table have been selected and that the Insured is a male with a Non smoker underwriting class, and assuming that the age at death is 45:

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| | | |
|:---|:---|:---|
|  | **<u>Policy A</u>** | **<u>Policy B</u>** |
| (1) Face Amount | $100000 | $100000 |
| (2) Alternative Cash Surrender on Date of Death | $50000 | $40000 |
| (3) Percentage on Date of Death from GPT table | 215% | 215% |
| (4) Alternative Cash Surrender Value plus Policy Debt multiplied by <br> Percentage from GPT table<br>| $107500 | $86000 |
| (5) Life Insurance Benefit = Greater of (1) and (4) | $107500 | $100000 |

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*Example 2:* The following example shows how the Life Insurance Benefit varies as a result of investment performance on a Policy, assuming that Life Insurance Benefit Option 1 and the CVAT table have been selected and that the Insured is a male with a Nonsmoker underwriting class, and assuming that the age at death is 45:

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| | | |
|:---|:---|:---|
|  | **<u>Policy A</u>** | **<u>Policy B</u>** |
| (1) Face Amount | $100000 | $100000 |
| (2) Alternative Cash Surrender on Date of Death | $50000 | $40000 |
| (3) Percentage on Date of Death from CVAT table | 337% | 337% |
| (4) Alternative Cash Surrender Value multiplied by Percentage from CVAT <br> table<br>| $168500 | $134800 |
| (5) Death Benefit = Greater of (1) and (4) | $168500 | $134800 |

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***Changing Your Life Insurance Benefit Option***

On or after the first Policy Anniversary, you may change the Life Insurance Benefit Option while the Insured is alive. However, Life Insurance Benefit Option changes to Option 3 will not be allowed at any time while the Insured is alive. We reserve the right to limit the number of changes to the Life Insurance Benefit Option. Any change will take effect on the Monthly Deduction Day on or after the date we approve the Policyowner's Request. The Face Amount of the Policy after a change in option will be an amount that results in the Life Insurance Benefit after the change being equal to the Life Insurance Benefit before the change.

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| | |
|:---|:---|
| ***Changes from Option 1 to Option 2*** | ***Changes from Option 2 to Option 1*** |
| &nbsp;&nbsp; If you change from Option 1 to Option 2, the Face <br> Amount of the Policy will be decreased by the sum of <br> the Alternative Cash Surrender Value plus Policy Debt.<br>| &nbsp;&nbsp;&nbsp; If you change from Option 2 to Option 1, the Face <br> Amount of the Policy will be increased by the <br> Alternative Cash Surrender Value plus Policy Debt.<br>|
| ***Changes from Option 3 to Option 1*** | ***Changes from Option 3 to Option 2*** |
| &nbsp;&nbsp; If you change from Option 3 to Option 1, the Face <br> Amount of the Policy will increase by the Cumulative <br> Premiums.<br>| &nbsp;&nbsp;&nbsp; If you change from Option 3 to Option 2, the Face <br> Amount of the Policy will increase by the difference <br> between the ACSV plus Policy Debt and the <br> Cumulative Premiums.<br>|
| ***Changes to Option 3 are prohibited.*** | ***Changes to Option 3 are prohibited.*** |

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We reserve the right to limit changes in the Life Insurance Benefit Option that would cause the Face Amount to fall below our minimum amount requirements.

To change your Life Insurance Benefit Option, you must submit a Request. **Changing your Life Insurance Benefit Option may have tax consequences. You should consult a tax advisor before changing your Life Insurance Benefit Option.**

**Additional Policy Provisions**

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***Change of Ownership***

A successor policyowner may be named in the application in a form we provide, or be designated in a Request. The successor policyowner will become the new policyowner when the original policyowner dies, if the original policyowner dies before the Insured. If no successor policyowner survives the original policyowner and the original policyowner dies (or ceases to exist) before the Insured, the original policyowner's estate (or successor in interest) becomes the new policyowner.

The policyowner may also change the policyowner by sending a Request. When this change takes effect, all rights of ownership in the Policy will pass to the new policyowner.

When we record a change of policyowner or successor policyowner, these changes will take effect as of the date of the policyowner's Notice, unless otherwise specified by the policyowner. This is subject to any payments we made or action we took before recording these changes. We may require that these changes be endorsed in the Policy. Changing the policyowner or naming a new successor policyowner cancels any prior choice of policyowner or successor policyowner, respectively, but does not change the beneficiary. The ACSV is generally available if the Policy has not been assigned, including an assignment made as part of an exchange under Section 1035 of the IRC and the policyowner has not changed, unless the change is the result of: (i) a merger or acquisition and the successor owner

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was your wholly owned subsidiary or a corporation under which you were a wholly owned subsidiary on the date ownership changed; or (ii) a trust you established for the purpose of providing employee benefits.

***Limits On Our Rights To Challenge Your Policy***

Generally, we must bring any legal action contesting the validity of your Policy within two years of the Issue Date. After that, we cannot contest its validity, except for failure to pay Premiums, unless the Insured died within that two-year period, or for cases of fraud in the procurement of your Policy, but only when permitted in the state where your Policy was delivered. However, for any increase(s) in Face Amount, Target Face Amount, or Term Insurance Benefit, other than one due to a change in the Life Insurance Benefit Option, this two-year period begins on the effective date of the increase. We may contest the payment of that amount only on the basis of those statements made in the application for such increase in Face Amount. If the Life Insurance Benefit is increased due to an Unplanned Premium payment, a two-year contestable period for that increase, based on any statements made in the application for that increase, will begin on the effective date of that payment. However, our right to contest the Policy will not apply to an increase in Face Amount that is due simply to a change in the Life Insurance Benefit Option. If the increase in Face Amount is the result of a corresponding decrease in the Term Insurance Benefit, the two-year contestable period for the amount of increase in Face Amount will be measured from the date this corresponding portion of Term Insurance Benefit became effective. Please refer to the Incontestability provision of the STR for more information.

If this Policy ends and is reinstated, we will not contest the Policy after it has been in effect during the lifetime of the Insured for two years from the date of reinstatement.

***Suicide***

If the death of the Insured is a result of suicide within two years of the Issue Date, and while the Policy is in force, we will pay limited Life Insurance Proceeds in one sum to the beneficiary. The limited Life Insurance Proceeds are the total amount of Premiums, less any Policy Debt and/or any partial surrender benefits paid. If a suicide occurs within two years of the effective date of an increase in the Face Amount, Target Face Amount, or Term Insurance Benefit, or the Life Insurance Benefit is increased due to an Unplanned Premium payment, we will only pay the monthly Cost of Insurance charges we deducted from Cash Value for that increase or payment in addition to the limited Life Insurance Proceeds, but not the amount of the Face Amount increase. However, if the increase in the Face Amount is the result of a corresponding decrease in the amount of insurance under the STR, the two-year suicide exclusion period for the increase in Face Amount will be measured from the date this corresponding portion of term insurance became effective. No new suicide provision will apply if the Face Amount increase was due solely to a change in the Life Insurance Benefit Option. If the Policy has been reinstated, the two-year suicide exclusion period will begin on the date of reinstatement.

***Misstatement of Age or Gender***

If the Policy application misstates the Insured's age or gender, we will adjust the Cash Value, the Cash Surrender Value, the Alternative Cash Surrender Value, the Life Insurance Benefit, and the benefits under any attached riders to reflect the correct age and gender as of the original Issue Date. We will adjust the Life Insurance Proceeds provided by your Policy based on the most recent mortality charge for the correct date of birth and/or gender. If that correction would cause a reduction in the Policy's Cash Value, the Cash Value will remain unchanged. If that correction would cause an increase in the Cash Value, the Cash Value will be recalculated from the Issue Date using the mortality charge based on the correct age and/or gender.

***Assignment***

While the Insured is living, you may assign a Policy as collateral for a loan or other obligation. In order for this assignment to be binding on us, we must receive a Request for the assignment at our Service Office. We are not responsible for the validity of any assignment. If your Policy is a modified endowment contract, assigning your Policy may result in taxable income and tax penalties to you. (See "Federal Income Tax Considerations" for more information.) The Alternative Cash Surrender Value is generally not available if you assign your Policy. (See "State Variations" and your Policy for more information about assignments.)

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**Surrenders**

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***Partial Surrenders***

You may request a partial surrender from your Policy. When you take a partial surrender, the Cash Value, Cash Surrender Value, Alternative Cash Surrender Value, and the Cumulative Premium Amount will be reduced by the amount of the partial surrender. To withdraw funds from the Policy, we must receive your signed Request at our Service Office.

*Amount Available for a Partial Surrender*

You may request a partial surrender from the Policy for an amount up to the Cash Surrender Value of your Policy. We process a partial surrender as of the Business Day we receive your Request. If we receive your Request after the NYSE is closed for trading, or on a day the NYSE is not open for trading, we will deem the day we receive your Request to be the next Business Day. If a partial surrender would reduce the Policy's Face Amount below the minimum Face Amount requirement of $25,000, we reserve the right to require a full surrender. See "Surrenders—Partial Surrenders—The Effect of a Partial Surrender" for more information on how a partial surrender may reduce your Face Amount, as applicable.

*Requesting a Partial Surrender*

You may request a partial surrender from your Policy by sending a Request to our Service Office. Surrender requests may also be accepted via fax or e-mail.

Generally, we will pay any partial surrender in one lump sum within seven days after we receive all necessary documentation and information in Good Order. However, we may delay payment under certain circumstances. (See "Policy Payment Information—When We Pay Policy Proceeds" for more information.)

Your requested partial surrender will be effective on the date we receive your Request. However, if the day we receive your Request is not a Business Day or if your Request is received after the close of regular trading on the NYSE, then the requested partial surrender will be effective the next Business Day.

You may make a partial surrender if (1) the Insured is living, (2) the partial surrender requested is at least $500, and (3) the partial surrender will not cause the Policy to fail to qualify as life insurance under IRC Section 7702. When you make a partial surrender, we reserve the right to deduct a fee, not to exceed $25, for processing the partial surrender. You may specify how much of the partial surrender you want taken from the amount you have in each of the Allocation Alternatives. If you do not specify how you would like your partial surrender allocated, we will request that you provide us with your allocations in a Notice. If the partial surrender Request is greater than the amount in the Allocation Alternatives you have chosen, we will request that you provide to us your allocations in a Notice. A partial surrender may result in taxable income to you and a 10% penalty tax may apply on certain early surrenders made before the policyowner attains age 59 ½. (See "Federal Income Tax Considerations.")

*The Effect of a Partial Surrender*

When you take a partial surrender, we reduce your Cash Value, Cash Surrender Value, Alternative Cash Surrender Value, and the Cumulative Premium Amount by the amount of the partial surrender and any applicable partial surrender fee. To withdraw funds from the Policy, we must receive your Request.

&nbsp;&nbsp;&nbsp;&nbsp;● **Option 1** 

If you have elected Life Insurance Benefit Option 1, we reduce your Policy's Face Amount by the greater of (a) or (b), where:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) is zero, and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) is the amount of the partial surrender less the greater of:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) zero; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) the Alternative Cash Surrender Value immediately prior to the partial surrender less the result of

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the Face Amount immediately prior to the partial surrender divided by the applicable percentage, as shown on the Policy Data Pages that corresponds to the Insured's Attained Age at the time of the partial surrender.

&nbsp;&nbsp;&nbsp;&nbsp;● **Option 2** 

For Policies where Life Insurance Benefit Option 2 is in effect, a partial surrender will not affect the Face Amount.

&nbsp;&nbsp;&nbsp;&nbsp;● **Option 3** 

For Policies where Life Insurance Benefit Option 3 is in effect and the Cumulative Premium Amount is greater than the amount of the partial surrender, a partial surrender will not affect the Policy's Face Amount. If the Cumulative Premium Amount is less than the amount of the partial surrender, the Face Amount will be reduced by the difference between:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) the amount of the partial surrender less the Cumulative Premium Amount immediately prior to the partial surrender; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) the greater of:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) the Alternative Cash Surrender Value of the Policy immediately prior to the partial surrender, less the Cumulative Premium Amount, minus the Policy's Face Amount divided by the applicable percentage, as shown on the Policy Data Pages for the Insured's Attained Age at the time of the partial surrender; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) zero.

If the above results in zero or a negative amount, there will be no adjustment in the Policy's Face Amount.

The following example shows the effect of a partial surrender on the Life Insurance Benefit for Life Insurance Benefit Options 1 and 3, as described above, issued on a male Insured, Attained Age 65:

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| | | | |
|:---|:---|:---|:---|
|  |  | **Option 1** | **Option 3** |
| **Immediately prior to** <br> **partial surrender** | **Face Amount** | **$1005000** | **$715000** |
| **Immediately prior to** <br> **partial surrender** | Death Benefit | $1005000 | $1005000 |
| **Immediately prior to** <br> **partial surrender** | ACSV | $500000 | $500000 |
| **Immediately prior to** <br> **partial surrender** | Policy Debt | $- | $- |
| **Immediately prior to** <br> **partial surrender** | Cumulative Premium |  | $290000 |
| **Immediately prior to** <br> **partial surrender** | Partial Surrender | $300000 | $300000 |
| **Immediately prior to** <br> **partial surrender** | &nbsp;&nbsp; Percentage shown on Table of Cash Value <br> %'s for 7702 Compliance<br>| 201% | 201% |

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| | | |
|:---|:---|:---|
| **Option 1** | **Face Amount:** | **$10050000** |
| **Option 1** | We reduce Face Amount by the greater of (a) or (b) where: |  |
| **Option 1** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) is 0, and | $- |
| **Option 1** | &nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) is the partial surrender amount ($300000) less the greater <br> of: | $300000 |
| **Option 1** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) $0; or | - |
| **Option 1** | &nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) (($500,000 + $0 prior to partial surrender) less <br> $1,005,000), divided by 201%. | - |
| **Option 1** | &nbsp;&nbsp; **Face Amount Reduction: (partial surrender amount** <br> **($300000) less $0)** | **$300000** |
| **Option 1** | **Face Amount Reduced to:** | **$705000** |
| **Option 3** | **Face Amount:** | **$715000** |
| **Option 3** | &nbsp;&nbsp; If the Cumulative Premiums ($290000) are less than the partial <br> surrender amount ($300000), we will reduce the Face Amount <br> by the difference between: |  |
| **Option 3** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a) $300,000 less $290,000 (prior to surrender); and | $10000 |
| **Option 3** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b) the greater of: |  |
| **Option 3** | &nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;i) $500,000 (ACSV pre-surrender) less $290,000 <br> (Cumulative Premiums) less $715,000 (Face Amount) divided by <br> 201%; or | $(145721) |
| **Option 3** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;ii) $0. | - |
| **Option 3** | &nbsp;&nbsp; **Face Amount Reduction: (difference between (a) [$10,000]** <br> **and (b) [$0])** | **$10000** |
| **Option 3** | **Face Amount Reduced to:** | **$705000** |

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Any decrease in the Policy's Face Amount caused by the partial surrender will first be applied against the most recent increase in Face Amount. It will then be applied to other increases in the Face Amount in the reverse order in which they took place, and then to the initial Face Amount.

***Full Surrenders***

*Cash Value*

After the free look period has expired, or after we receive your Policy delivery receipt, whichever is later, the Cash Value of the Policy is the sum of the Accumulation Value in the Separate Account, the value in the Fixed Account and the value in the Loan Account. A number of factors affect your Policy's Cash Value, including, but not limited to:

&nbsp;&nbsp;&nbsp;&nbsp;● the amount and frequency of the premium payments;

&nbsp;&nbsp;&nbsp;&nbsp;● the investment experience of the Investment Divisions you choose;

&nbsp;&nbsp;&nbsp;&nbsp;● the interest credited on the amount in the Fixed Account;

&nbsp;&nbsp;&nbsp;&nbsp;● the amount of any partial surrenders you make (including any charges you incur as a result of such surrenders); and

&nbsp;&nbsp;&nbsp;&nbsp;● the amount of charges we deduct.

*Cash Surrender Value*

The Cash Surrender Value equals the Cash Value less Policy Debt.

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*Alternative Cash Surrender Value*

The Alternative Cash Surrender Value ("ACSV") is equal to the Policy's Cash Value plus the value of the DPL Account. You are generally eligible to receive the ACSV provided that (1) the Policy has not been assigned, including an assignment made as part of an exchange under IRC section 1035 and (2) the policyowner has not been changed. The ACSV is not available to support Monthly Deduction Charges or for purposes of a loan or partial surrender. The ACSV is also not available during the Right to Examine period. The ACSV is not available following the expiration of eleven Policy Years.

We will credit interest on any amount placed in the DPL Account. The value of the DPL Account during the first Policy Year is equal to a percentage of the cumulative Sales Expense Charge, State Premium Tax Charge, and Federal Premium Tax Charge collected during the first Policy Year and interest credited on these amounts. The DPL Account will be amortized on the Monthly Deduction Day. The amortized amount will be the value of the DPL Account on the date multiplied by the applicable percentage from the following schedule.

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| | |
|:---|:---|
| Policy Year 1 | 0.0000% |
| Policy Year 2 | 0.8284% |
| Policy Year 3 | 0.8742% |
| Policy Year 4 | 1.0129% |
| Policy Year 5 | 1.0596% |
| Policy Year 6 | 1.1538% |
| Policy Year 7 | 1.2490% |
| Policy Year 8 | 1.3452% |
| Policy Year 9 | 1.4424% |
| Policy Year 10 | 1.5408% |

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| | |
|:---|:---|
| Policy Year 11 | 6.4377% |
| Policy Year 12 | 100.0% |
| Policy Year 13 | 100.0% |
| Policy Year 14 | 100.0% |
| Policy Year 15 | 100.0% |
| Policy Year 16 | 100.0% |
| Policy Year 17 | 100.0% |
| Policy Year 18 | 100.0% |
| Policy Year 19 | 100.0% |
| Policy Year 20 | 100.0% |

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The DPL Account value on each Monthly Deduction Day on or after the first Policy Anniversary will be equal to (a) minus (b) plus (c) plus (d), where:

&nbsp;&nbsp;&nbsp;&nbsp;(a) is the value of the DPL Account as of the prior Monthly Deduction Day;

&nbsp;&nbsp;&nbsp;&nbsp;(b) is the amount amortized;

&nbsp;&nbsp;&nbsp;&nbsp;(c) is a percentage of the cumulative Sales Expense Charge, State Premium Tax Charge, and Federal Premium Tax Charges collected since the last Monthly Deduction Day, including the current Monthly Deduction Day, shown on the following schedule; and

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

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| | |
|:---|:---|
| Policy Year 2 | 99.1716% |
| Policy Year 3 | 99.1258% |
| Policy Year 4 | 98.9871% |
| Policy Year 5 | 98.9404% |
| Policy Year 6 | 98.8462% |
| Policy Year 7 | 98.7510% |
| Policy Year 8 | 98.6548% |
| Policy Year 9 | 98.5576% |
| Policy Year 10 | 98.4592% |
| Policy Year 11 | 93.5623% |

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---

| | |
|:---|:---|
| Policy Year 12 | 0.0% |
| Policy Year 13 | 0.0% |
| Policy Year 14 | 0.0% |
| Policy Year 15 | 0.0% |
| Policy Year 16 | 0.0% |
| Policy Year 17 | 0.0% |
| Policy Year 18 | 0.0% |
| Policy Year 19 | 0.0% |
| Policy Year 20 | 0.0% |

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

&nbsp;&nbsp;&nbsp;&nbsp;(d) is the interest credited for the prior month.

The interest credited to the DPL Account at any time will be based on a rate of interest that we declare periodically. That rate will be declared at least annually.

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*Requesting a Surrender*

To surrender a Policy, you must send a Request to our Service Office. Surrender Requests may also be accepted via fax or e-mail.

Upon full surrender, you will receive the Cash Surrender Value or, if applicable, the ACSV less any Policy Debt, while the Insured is alive and this Policy is in effect. We will calculate the Cash Surrender Value or ACSV as of the date on which we receive your Request, unless a later effective date is selected. All insurance will end on the date we receive your Request for full cash surrender at our Service Office.

You generally are not eligible to receive the Alternative Cash Surrender Value if (a) the Policy is assigned, including an assignment made as part of an exchange under Section 1035 of the IRC, or (b) there is a change of Policy ownership, unless the new owner is: (i) your wholly owned subsidiary or a corporation under which you were a wholly owned subsidiary on the date ownership changed due to a merger or acquisition; or (ii) a trust you established for the purpose of providing employee benefits.

*When the Surrender is Effective*

Unless you choose a later effective date, your surrender will be effective as of the end of the Business Day our Service Office receives your Request, together with the Policy. If, however, the day we receive your Request is not a Business Day or if your Request is received after the closing of regular trading on the NYSE, the Requested surrender will be effective on the next Business Day on which the NYSE is open. Generally, we will mail the surrender proceeds in one lump sum within seven days after the effective date, subject to the limits explained in "Policy Payment Information—When We Pay Policy Proceeds" section. All insurance coverage under the Policy and the STR will end on the day we receive your surrender Request. A surrender may result in taxable income and a 10% penalty tax may apply on certain early surrenders made before the policyowner attains age 59 ½. See "Federal Income Tax Considerations" for more information.

**Termination and Reinstatement**

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***Late Period***

If, on a Monthly Deduction Day, your Cash Surrender Value is less than the Monthly Deduction Charges, your Policy will continue until the expiration of the Late Period. (See "State Variations" for state-by-state details.) This may happen even if all the Planned Premiums have been paid. During this period, you have the opportunity to pay any Premium needed to cover any overdue charges. We will mail a notice to your last known address stating this amount. We will send a copy to the last known assignee, if any, on our records. We will mail these notices at least 31 days before the end of the Late Period. Your Policy will remain in effect during the Late Period. However, if we do not receive the required payment before the end of the Late Period, we will terminate your Policy. In such event, you will not receive the Cash Value, Cash Surrender Value, Alternative Cash Surrender Value, Life Insurance Benefit, or any other Policy benefits. No new loans or partial surrenders may be taken during the Late Period.

If the Insured dies during the Late Period, we will pay the Life Insurance Proceeds to the beneficiary. We will reduce the Life Insurance Benefit by the amount of any Policy Debt and by any unpaid Monthly Deduction Charges for the full Policy Month(s) that run from the beginning of the Late Period through the end of the Policy Month in which the Insured dies.

***Reinstatement Option***

If your Policy has ended, you may Request that we reinstate your Policy (and any other benefits provided by the STR) if all of these conditions are met:

&nbsp;&nbsp;&nbsp;&nbsp;● you send a Request for reinstatement to our Service Office within five years after your Policy is ended;

&nbsp;&nbsp;&nbsp;&nbsp;● the Insured is alive; and

&nbsp;&nbsp;&nbsp;&nbsp;● you have not surrendered your Policy for its full Cash Surrender Value or, if applicable, Alternative Cash Surrender Value.

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Keep in mind that a termination and subsequent reinstatement may cause your Policy to become a MEC. MECs are subject to less favorable tax treatment on partial surrenders or amounts borrowed from the Policy. See "Federal Income Tax Considerations—Modified Endowment Contract Status."

If the required payment is made within 31 days after the end of the Late Period, no proof of insurability is required. If the required payment is not made within 31 days after the end of the Late Period, a written application will be required and you must provide proof of insurability that is acceptable to us.

To reinstate the Policy, you must make a payment sufficient to cover the Monthly Deduction Charges and any other Policy charges to keep the Policy (and, if applicable, the STR) in force for at least two months. This payment will be in lieu of the payment of all Premiums in arrears. You may want to consider paying additional Premium to protect against the impact of potential market fluctuations and performance-related risks on your Cash Value. If, at the time the Policy ended, an outstanding Policy loan was in effect, that Policy Debt will also be reinstated. Any Policy Debt as of the end of the Late Period can also be repaid, together with loan interest at the current rate in effect at the time of reinstatement, compounded once each year from the end of the Late Period to the date of reinstatement.

We will apply your payment to the Allocation Alternatives as of the Business Day we receive it and in accordance with your instructions at the time you make such payment. Payments received after the close of the NYSE (usually 4:00 p.m. Eastern Time) on a Business Day, or on a non-Business Day, will be credited on the next Business Day. The Cash Value that will be reinstated is equal to the Cash Value at the time of lapse. The Cash Surrender Value will be reduced by any Policy Debt, if not repaid.

The effective date of the reinstatement will be the Monthly Deduction Day on or following the date we approve the Request for reinstatement.

New contestability and suicide periods will apply from the effective date of reinstatement.

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**Distribution and Compensation Arrangements**

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NYLIFE Distributors, the underwriter and distributor of the Policies, is registered with the SEC and FINRA as a broker-dealer. The firm is an indirect wholly-owned subsidiary of NYLIC, and an affiliate of NYLIAC. Its principal business address is 30 Hudson Street, Jersey City, New Jersey 07302.

The Policies are sold by registered representatives of NYLIFE Securities, a broker-dealer that is an affiliate of NYLIFE Distributors, and by registered representatives of unaffiliated broker-dealers. Your registered representative is also a licensed insurance agent with NYLIAC. He or she may be qualified to offer other forms of life insurance, annuities, and other investment products. In certain circumstances, NYLIFE Securities registered representatives can sell both products manufactured and issued by NYLIC or its affiliates and products provided by other companies.

As discussed in the Commissions Paid to Dealers section above, the selling broker-dealer, and in turn your registered representative, will receive compensation for selling you this policy or any other investment product. See "Charges Associated with the Policy—Commissions Paid To Dealers."

Please refer to the Statement of Additional Information ("SAI") for additional information on distribution and compensation arrangements. The SAI is posted at https://dfinview.com/NewYorkLife/TAHD/corpexec-vi.

**Federal Income Tax Considerations**

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***Our Intent***

Our intent in the discussion in this section is to provide general information about federal income tax considerations related to the Policies. This is not an exhaustive discussion of all tax questions that might arise under the Policies. This discussion is not intended to be tax advice for you. Tax results may vary according to your particular circumstances, and you may need tax advice in connection with the purchase or use of your Policy.

The discussion in this section is based on our understanding of the present federal income tax laws as they are currently interpreted by the IRS. We have not included any information about applicable state or other tax laws (except as noted in "Other Tax Considerations" below). Further, you should note that tax law changes from time to time. We do not know whether the treatment of life insurance policies under federal income tax or estate or gift tax laws will continue. Future legislation, regulations, or interpretations could adversely affect the tax treatment of life insurance policies. Lastly, there are many areas of the tax law where minimal guidance exists in the form of Treasury Regulations or Revenue Rulings. You should consult a tax advisor for information on the tax treatment of the Policies, for the tax treatment under the laws of your state, or for information on the impact of proposed or future changes in tax legislation, regulations, or interpretations.

The ultimate effect of federal income taxes on values under the Policy and on the economic benefit to you or the beneficiary depends upon NYLIAC's tax status, upon the terms of the Policy, and upon your circumstances.

***Tax Status of NYLIAC and the Separate Account***

NYLIAC is taxed as a life insurance company under Subchapter L of the IRC. The Separate Account is not a separate taxable entity from NYLIAC and we take its operations into account in determining NYLIAC's income tax liability. As a result, NYLIAC takes into account applicable tax attributes of the assets of the Separate Account on its corporate income tax return, including corporate dividends received deductions and foreign tax credits that may be produced by assets of the Separate Account. All investment income and realized net capital gains on the assets of the Separate Account are reinvested and taken into account in determining Policy Cash Values, and are automatically applied to increase the book reserves associated with the Policies. Under existing federal income tax law, neither the investment income nor any net capital gains of the Separate Account are taxed to NYLIAC to the extent those items are applied to increase tax-deductible reserves associated with the Policies.

***Charges for Taxes***

We impose a federal tax charge equal to up to 1.25% of premiums received under the Policy to compensate us for taxes we have to pay under Section 848 of the IRC in connection with our receipt of premiums. We may increase this charge to reflect changes in the IRC or otherwise to reflect changes in the taxes we owe. No other charge is currently

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made to the Separate Account for our federal income taxes that may be attributable to the Separate Account. In the future, we may impose a charge for our federal income taxes attributable to the Separate Account. In addition, depending on the method of calculating interest on amounts allocated to the Fixed Account, we may impose a charge for the Policy's share of NYLIAC's federal income taxes attributable to the Fixed Account.

Under current laws, we may incur state or local taxes (in addition to premium taxes) in several states and localities. At present, we do not charge the Separate Account for these taxes. However, we reserve the right to charge the Separate Account for the portion of such taxes, if any, attributable to the Separate Account or the Policies.

***Diversification Standards and Control Issues***

In addition to other requirements imposed by the IRC, a variable policy will qualify as life insurance under the IRC only if the diversification requirements of IRC Section 817(h) are satisfied by the Separate Account. We intend for the Separate Account to comply with IRC Section 817(h) and related regulations. To satisfy these diversification standards, the regulations generally require that on the last day of each calendar quarter, no more than 55% of the value of a Separate Account's assets can be represented by any one investment, no more than 70% can be represented by any two investments, no more than 80% can be represented by any three investments, and no more than 90% can be represented by any four investments. For purposes of these rules, all securities of the same issuer generally are treated as a single investment, but each U.S. Government agency or instrumentality is treated as a separate issuer. Under a "look through" rule, we are able to meet the diversification requirements by looking through the Separate Account to the underlying Eligible Portfolios. Each of the Funds has committed to us that the Eligible Portfolios will meet the diversification requirements.

The IRS has stated in published rulings that a variable policyowner will be considered the owner of separate account assets if he or she possesses incidents of ownership in those assets, such as the ability to exercise investment control over the assets. In those circumstances, income and gains from the separate account assets would be includable in the variable policyowner's gross income. In connection with its issuance of temporary regulations under IRC Section 817(h) in 1986, the Treasury Department announced that such temporary regulations did not provide guidance concerning the extent to which policyowners could be permitted to direct their investments to particular Investment Divisions of a separate account and that guidance on this issue would be forthcoming. Regulations addressing this issue have not yet been issued or proposed. The ownership rights under your Policy are similar to, but different in certain respects from, those described by the IRS in rulings in which it was determined that policyowners were not owners of separate account assets. For example, you have additional flexibility in allocating premium payments and policy Cash Values. These differences could result in you being treated as the owner of your Policy's pro-rata portion of the assets of the Separate Account. In addition, we do not know what standards will be set forth, if any, in the regulations or rulings which the Treasury Department has stated it expects to issue. We therefore reserve the right to modify the Policy, as deemed appropriate by us, to attempt to prevent you from being considered the owner of your Policy's pro-rata share of the assets of the Separate Account. Moreover, in the event that regulations are adopted or rulings are issued, there can be no assurance that the Eligible Portfolios will continue to be available, will be able to operate as currently described in the Fund prospectuses, or that a Fund will not have to change an Eligible Portfolio's investment objective or investment policies.

***Life Insurance Status of Policy***

We believe that the Policy meets the statutory definition of life insurance under IRC Section 7702 and that you and the beneficiary of your Policy will receive the same federal income tax treatment as that accorded to owners and beneficiaries of fixed benefit life insurance policies. Specifically, we believe that the Life Insurance Benefit under your Policy will be excludable from the gross income of the beneficiary subject to the terms and conditions of Section 101(a)(1) of the IRC.

In addition, unless the Policy is a "modified endowment contract," in which case the receipt of any loan under the Policy may result in recognition of income to the policyowner, we believe that the policyowner will not be deemed to be in constructive receipt of the Cash Values, including increments thereon, under the Policy until proceeds of the Policy are received upon a surrender of the Policy or a partial surrender or, in certain circumstances where there is an existing Policy loan, upon a surrender or lapse of the Policy.

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We reserve the right to make changes to the Policy if we think it is appropriate to attempt to assure qualification of the Policy as a life insurance contract. If a Policy were determined not to qualify as life insurance, the Policy would not provide the tax advantages normally provided by life insurance.

***IRC Section 101(j)—Impact on Employer-Owned Policies***

For an "employer-owned life insurance contract" issued after August 17, 2006 (unless issued in a 1035 exchange for a contract originally issued prior to that date where the new contract is not materially different from the exchanged contract) if certain specific requirements described below are not satisfied, IRC Section 101(j) generally requires policy beneficiaries to treat Life Insurance Proceeds paid under such contract as income to the extent such proceeds exceed the premiums and other amounts paid by the policyowner for the contract. This rule of income inclusion will not apply if, before the Policy is issued, the employer-policyowner provides certain Notice to and obtains certain written consents from Insureds (who must be United States citizens or residents) in circumstances where:

&nbsp;&nbsp;&nbsp;&nbsp;(1) the Insured was an individual who was an employee within 12 months of his death;

&nbsp;&nbsp;&nbsp;&nbsp;(2) the Insured was a "highly compensated employee" at the time the contract was issued. In general, highly compensated employees for this purpose are owners of more than 5 percent of the employer, employees who for contracts issued in 2026 received compensation in excess of $160,000 in 2025, directors and anyone else in the top 35 percent of employees based on compensation;

&nbsp;&nbsp;&nbsp;&nbsp;(3) the Life Insurance Proceeds are paid to a family member of the Insured (as defined under Code Section 267(c)(4)), an individual who is a designated beneficiary of the Insured under the Policy (other than the policyowner), a trust established for either the family member's or beneficiary's benefit, or the Insured's estate; or

&nbsp;&nbsp;&nbsp;&nbsp;(4) the Life Insurance Proceeds are used to buy an equity interest in the policyowner from the family member, beneficiary, trust or estate.

Policyowners that own one or more contracts subject to IRC Section 101(j) are also subject to annual reporting and record-keeping requirements. In particular, they must file Form 8925 annually with their U.S. income tax return.

If the contract is issued in a 1035 exchange of another employer-owned life insurance contract that satisfied the notice and consent requirements referenced above, you should discuss with your legal and tax advisors whether and to what extent a new notice and consent are required in connection with this exchange.

You should consult with your tax advisor to determine whether and to what extent IRC Section 101(j) may apply to the Policy. Assuming the provision applies, you should, to the extent appropriate (in consultation with your tax advisor), take the necessary steps, before you acquire the Policy, to ensure that the income inclusion rule described above does not apply to the Policy.

***Modified Endowment Contract Status***

Internal Revenue Code Section 7702A defines a class of life insurance policies referred to as modified endowment contracts. Under this provision, the policies will be treated for tax purposes in one of two ways. Policies that are not classified as modified endowment contracts will be taxed as conventional life insurance policies, as described below. Taxation of pre-death distributions (including loans) from policies that are classified as modified endowment contracts is somewhat different, as described below.

A life insurance policy becomes a "modified endowment contract" if, at any time during the first seven policy years, the sum of actual premiums paid exceeds the sum of the "seven-pay premium." Generally, the "seven-pay premium" is the level annual premium, such that if paid for each of the first seven policy years, will fully pay for all future life insurance and endowment benefits under a life insurance policy. For example, if the "seven-pay premium" was $1,000, the maximum premium that could be paid during the first seven policy years to avoid "modified endowment" treatment would be $1,000 in the first year, $2,000 through the first two years and $3,000 through the first three years, etc. Under this test, a Policy may or may not be a modified endowment contract, depending on the amount of premium paid during each of the Policy's first seven years. A policy received in exchange for a modified endowment contract will be taxed as a modified endowment contract even if it would otherwise satisfy the seven-pay test.

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Certain changes in the terms of a Policy, including a reduction in Life Insurance Benefits, will require a Policy to be retested to determine whether the change has caused the Policy to become a modified endowment contract. In addition, if a "material change" occurs at any time while the Policy is in force, a new seven-pay test period will start and the Policy will need to be retested to determine whether it continues to meet the seven-pay test. A "material change" generally includes increases in Life Insurance Benefits, but, where applicable, does not include an increase in Life Insurance Benefits which is attributable to the payment of premiums necessary to fund the lowest level of Life Insurance Benefits payable during the first seven Policy Years, or which is attributable to the crediting of interest with respect to such premiums.

Because the Policy provides for flexible premiums, NYLIAC has instituted procedures to monitor whether, under our current interpretation of the law, increases in Life Insurance Benefits or additional premiums cause either the start of a new seven-year test period or the taxation of distributions and loans. All additional premiums will be considered in these determinations.

If a Policy fails the seven-pay test, all distributions (including loans) occurring in the Policy Year of failure and thereafter will be subject to the rules for modified endowment contracts. A recapture provision may also apply to loans and distributions that are received in anticipation of failing the seven-pay test. Under the IRC, any distribution or loan made within two years prior to the date that a Policy fails the seven-pay test is considered to have been made in anticipation of the failure.

Any amounts distributed under a "modified endowment contract" (including proceeds of any loan) are taxable to the extent of any accumulated income in the Policy. Penalty taxes may apply to such taxable amounts as well. In general, the amount that may be subject to tax is the excess of the Cash Value (both loaned and unloaned) over the previously unrecovered premiums paid.

For purposes of determining the amount of income received upon a distribution (or loan) from a modified endowment contract, the IRC requires the aggregation of all modified endowment contracts issued to the same policyowner by an insurer and its affiliates within the same calendar year. Therefore, loans and distributions from any one such policy are taxable to the extent of the income accumulated in all the modified endowment contracts required to be so aggregated.

If any amount is taxable as a distribution of income under a modified endowment contract (as a result of a Policy surrender, a partial surrender, or a loan), it may also be subject to a 10% penalty tax under IRC Section 72(v). Limited exceptions from the additional penalty tax are available for certain distributions to individuals who own policies. The penalty tax will not apply to distributions: (i) that are made on or after the date the taxpayer attains age 591/2; or (ii) that are attributable to the taxpayer's becoming disabled; or (iii) that are part of a series of substantially equal periodic payments (made not less frequently than annually) made for the life or life expectancy of the taxpayer or for the joint lives or joint life expectancies of the taxpayer and his or her beneficiary.

***Status of the Policy After the Insured Is Age 100***

The IRS is considering the status of a life insurance policy after the Insured reaches, in the case of this Policy, age 100. The IRS has not issued final guidance on this issue. There is a risk that the Policy may not qualify as life insurance under the Federal tax law after the Insured becomes age 100 and that the policyowner may become subject to adverse tax consequences at that time. For this reason, a tax advisor should be consulted about the advisability of continuing the Policy after the Insured becomes age 100.

***Policy Surrenders and Partial Surrenders***

Upon a full surrender of a Policy for its Cash Surrender Value or Alternative Cash Surrender Value, if applicable, you will recognize ordinary income for federal tax purposes to the extent that the Cash Value, or Alternative Cash Surrender Value, as the case may be, less charges and any uncollected additional contract charges, exceeds the investment in your Policy (the total of all premiums paid but not previously recovered plus any other consideration paid for the Policy). The tax consequences of a partial surrender from your Policy will depend upon whether the partial surrender results in a reduction of future benefits under your Policy and whether your Policy is a modified endowment contract. If upon a full surrender of a Policy, the premium payments made exceed the surrender proceeds plus the amount of any outstanding loans, you will recognize a loss, which is not deductible for federal income tax purposes.

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If your Policy is not a modified endowment contract, the general rule is that a partial surrender from a policy is taxable only to the extent that it exceeds the total investment in the policy. An exception to this general rule applies, however, if a reduction of future benefits occurs during the first fifteen years after a policy is issued and there is a cash distribution associated with that reduction. In such a case, the IRC prescribes a formula under which you may be taxed on all or a part of the amount distributed. After fifteen years, cash distributions from a policy that is not a modified endowment contract will not be subject to federal income tax, except to the extent they exceed the total investment in the policy. We suggest that you consult with a tax advisor in advance of a proposed decrease in Face Amount, a full surrender, or a partial surrender.

***3.8 Percent Medicare Tax on Certain Investment Income***

In general, a tax of 3.8 percent will apply to net investment income ("NII") received by an individual taxpayer to the extent his or her modified adjusted gross income ("MAGI") exceeds certain thresholds (e.g., $250,000 in the case of taxpayers filing jointly, $125,000 in the case of a married taxpayer filing separately and $200,000 in the case of other individual taxpayers). For this purpose, NII includes (i) gross income from various investments, including gross income received with respect to annuities that are not held through a tax-qualified plan (e.g., a traditional IRA or Section 403(b) plan) and (ii) net gain attributable to the disposition of property. Such NII (as well as gross income from Qualified Plans) will also increase a taxpayer's MAGI for purposes of the taxable thresholds described above. This tax also applies to trusts and estates under a special set of rules. In 2012, the IRS and the Treasury Department issued guidance regarding this new tax in the form of proposed regulations, which were finalized in 2013. You should consult your tax advisor to determine the applicability of this tax in your individual circumstances and with respect to any amount received in connection with the surrender of this Policy, distributions or partial surrenders from this Policy or the exercise of other rights and options under this Policy (including Policy loans).

***Policy Loans and Interest Deductions***

We believe that under current law any loan received under your Policy will be treated as Policy Debt to you and that, unless your Policy is a modified endowment contract, no part of any loan under your Policy will constitute income to you. If your Policy is a modified endowment contract (see discussion above) loans will be fully taxable to the extent of the income in the Policy (and in any other contracts with which it must be aggregated) and could be subject to the additional 10% penalty tax described above. Finally, it is possible that a loan could be treated as a taxable distribution if there is no spread or a very small spread between the interest rate charged on the loan and the interest rate credited to the loaned amount.

Internal Revenue Code Section 264 provides that interest paid or accrued on a loan in connection with a policy is generally nondeductible. Certain exceptions apply, however, with respect to policies covering key employees. In addition, in the case of policies not held by individuals, special rules may limit the deductibility of interest on loans that are not made in connection with a policy. We suggest consultation with a tax advisor for further guidance.

In addition, if your Policy lapses or you surrender it with an outstanding loan, and the amount of the loan plus the Cash Surrender Value is more than the sum of premiums you paid, you will generally be liable for taxes on the excess. Such amount will be taxed as ordinary income. A 10% penalty tax may apply as well.

***Exchanges, Sales, or Assignments of Policies***

If you change the policyowner or exchange or assign your Policy, it may have significant tax consequences depending on the circumstances. An assignment, sale, or exchange of the Policy may result in taxable income and tax penalties to you. Further, IRC Section 101(a) provides, subject to certain exceptions, that where a policy has been transferred for value, only the portion of the Life Insurance Benefit which is equal to the total consideration paid for the policy may be excluded from gross income. Based on IRS guidance, amounts received in excess of the consideration paid for the Policy may be taxed as ordinary income to the extent of the amount of gain that would have been realized had the Policy been surrendered. Based on the same guidance, amounts received in excess of that amount would be taxed as a capital gain. If you sell your Policy in a reportable policy sale, the Tax Cuts and Jobs Act of 2017 imposes new information reporting requirements on the purchaser and the policy issuer. Under these new reporting requirements, certain information related to the sale may be required to be reported to the IRS and to the seller.

For more information about Policy assignments, sales, and exchanges, you should consult a qualified tax advisor.

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***Qualified Plans***

The Policies may not be used with Qualified Plans.

***Withholding***

Under Section 3405 of the IRC, withholding is generally required with respect to certain taxable distributions under insurance policies. In the case of periodic payments (payments made as an annuity or on a similar basis), the withholding is at graduated rates (as though the payments were employee wages) based on information you furnish on Form W-4P. For non-periodic distributions, the withholding is at a flat rate of 10%, unless you request a different rate of withholding on Form W-4R. You can elect to have either non-periodic or periodic payments made without withholding except where your tax identification number has not been furnished to us, or where the IRS has notified us that a tax identification number is incorrect.

Different withholding rules apply to payments made to U.S. citizens living outside the United States and to non-U.S. citizens living outside of the United States. U.S. citizens who live outside of the United States generally are not permitted to elect not to have federal income taxes withheld from payments. Payments to non-U.S. citizens who are not residents of the United States generally are subject to 30% withholding, unless an income tax treaty between their country of residence and the United States provides for a lower rate of withholding or an exemption from withholding.

Under the Foreign Account Tax Compliance Act ("FATCA"), as reflected in Sections 1471 through 1474 of the IRC, U.S. withholding agents (such as NYLIAC) may be required to obtain certain information to establish the U.S. or non-U.S. status of its account or contract holders (e.g., a Form W-9 or W-8BEN may be required) and perform certain due diligence to ensure that information is accurate. In certain cases, if this information is not obtained, withholding agents, such as NYLIAC may be required to withhold at a 30% rate on certain payments beginning July 1, 2014.

***Business Uses of Policy***

Businesses can use the Policies in various arrangements, including non-qualified deferred compensation or salary continuance plans, split dollar insurance plans, executive bonus plans, tax exempt and nonexempt welfare benefit plans, retiree medical benefit plans and others. The tax consequences of such plans may vary depending on the particular facts and circumstances. If you are purchasing the Policy for any arrangement the value of which depends in part on its tax consequences, you should consult a qualified tax advisor. In recent years, moreover, Congress has adopted new rules relating to life insurance owned by businesses. Any business contemplating the purchase of a new policy or a change in an existing Policy should consult a tax advisor.

***Non-Individual Owners and Business Beneficiaries of Policies***

If a Policy is owned or held by a corporation, trust or other entity that is not a natural person, this could jeopardize some or all of such entity's interest deduction under IRC Section 264, even where such entity's indebtedness is in no way connected to the Policy. In addition, under IRC Section 264(f)(5), if a business (other than a sole proprietorship) is directly or indirectly a beneficiary of a Policy, the Policy could be treated as held by the business for purposes of the IRC Section 264(f) entity-holder rules. A qualified tax advisor should be consulted before any non-natural person is made an owner or holder of a Policy, or before a business (other than a sole proprietorship) is made a beneficiary of a Policy.

***Corporate Owners***

Ownership of a policy by a corporation may affect the policyowner's exposure to the corporate alternative minimum tax enacted under the Inflation Reduction Act of 2022 ("CAMT"). The CAMT applies to certain large corporations that satisfy certain financial thresholds over certain periods of time. It is a minimum tax system intended to ensure that applicable corporations annually pay at least a 15% tax on adjusted financial statement income, as defined under CAMT (the "Minimum Tax"). If the Minimum Tax exceeds the amount of tax an applicable corporation would pay under the regular corporate tax system for a given year, the corporation may have an additional tax obligation under CAMT. There may be a credit for such additional tax in a later year. You should discuss with your tax advisor whether and to what extent ownership of the policy may cause you to be subject to the CAMT in any given tax year.

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***Split-Dollar Arrangements***

The IRS and the Treasury Department have issued guidance that substantially affects split-dollar arrangements. Consult a qualified tax advisor before entering into or paying additional premiums with respect to such arrangements.

Additionally, the Sarbanes-Oxley Act of 2002 (the "Act") prohibits, with limited exceptions, publicly-traded companies, including non-U.S. companies that have securities listed on exchanges in the United States, from extending, directly or through a subsidiary, many types of personal loans to their directors or executive officers. It is possible that this prohibition may be interpreted as applying to split-dollar life insurance policies for directors and executive officers of such companies, since such insurance arguably can be viewed as involving a loan from the employer for at least some purposes. Although the prohibition on loans is generally effective as of July 30, 2002, there is an exception for loans outstanding as of the date of enactment, so long as there is no material modification to the loan terms and the loan is not renewed after July 30, 2002.

Any affected business contemplating the payment of a premium on an existing policy, or the purchase of a new policy, in connection with a split-dollar life insurance arrangement should consult legal counsel.

***Tax Shelter Regulations***

Prospective owners that are corporations should consult a tax advisor about the treatment of the Policy under the Treasury Regulations applicable to corporate tax shelters.

***Other Tax Considerations***

The transfer of the Policy or designation of a beneficiary may have federal, state, and/or local transfer and inheritance tax consequences, including the imposition of gift, estate, and generation-skipping transfer taxes. For example, the transfer of the Policy to, or the designation as a beneficiary of, or the payment of proceeds to, a person who is assigned to a generation which is two or more generations below the generation assignment of the owner may have generation-skipping transfer tax consequences under federal tax law.

The individual situation of each policyowner or beneficiary will determine the extent, if any, to which federal, state, and local transfer and inheritance taxes may be imposed and how ownership or receipt of life insurance proceeds will be treated for purposes of federal, state and local estate, inheritance, GST and other taxes.

For 2026, the federal estate tax, gift tax, and generation-skipping transfer tax exemptions and maximum rates are $15,000,000, (as adjusted for inflation starting in 2027), and 40%, respectively. The 2027 exemption amount is currently set to change to a substantially lower amount (expected to be approximately $7,000,000) if no legislation is enacted that would extend current law beyond 2025.

The uncertainty as to how the current law might be modified in coming years underscores the importance of seeking guidance from a qualified advisor to help ensure that your estate plan adequately addresses your needs and those of your beneficiaries under all possible scenarios.

***Life Insurance Purchases by Residents of Puerto Rico***

In Rev. Rul. 2004-75, 2004-31 I.R.B. 109, the IRS announced that income received by residents of Puerto Rico under life insurance contracts issued by a Puerto Rico branch of a United States life insurance company is U.S.-source income that is generally subject to United States Federal income tax.

**Legal Proceedings**

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NYLIAC is a defendant in lawsuits arising from its agency sales force, insurance (including variable contracts registered under Federal securities law), and/or other operations. Some of these actions seek substantial or unspecified compensatory and punitive damages. NYLIAC is also from time to time involved in various governmental, administrative, and investigative proceedings and inquiries.

Notwithstanding the uncertain nature of litigation and regulatory inquiries, the outcome of which cannot be predicted, NYLIAC believes that, after provisions made in the financial statements, the ultimate liability that could result from litigation and proceedings would not have a material adverse effect on NYLIAC's financial position;

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however, it is possible, that settlements or adverse determinations in one or more actions or other proceedings in the future could have a material adverse effect on NYLIAC's operating results for a given year.

**Records and Reports**

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NYLIC or NYLIAC maintains all records and accounts relating to the Separate Account and the Fixed Account. Each year, we will mail you a report showing your Policy's Cash Value, Cash Surrender Value (and, if applicable, Alternative Cash Surrender Value), and outstanding loans (including accrued loan interest) as of the latest Policy Anniversary. This report contains any additional information required by any applicable law or regulation. We will also mail you a report each quarter showing this same information as of the end of the previous quarter. This quarterly statement reports Policy transactions that you have Requested or authorized. Please review it carefully.

It is important that you inform NYLIAC of an address change so that you can receive these Policy statements (please refer to the section on "Management and Organization—Our Rights" and "—How to Reach Us for Policy Services.") In the event that your statement is returned from the U.S. Postal Service as undeliverable, we reserve the right to suspend mailing future correspondence and also suspend current Policy transaction processing until a correct address is obtained. Additionally, no new service requests can be processed until a valid address is provided.

Reports and promotional literature may contain the ratings NYLIC and NYLIAC have received from independent rating agencies. Both companies are among only a few companies that have consistently received among the highest possible ratings from the four major independent rating companies for financial strength and stability: A.M. Best, Fitch, Moody's Investor's Services, Inc. and Standard and Poor's. However, neither NYLIC nor NYLIAC guarantees the investment performance of the Investment Divisions.

**Financial Statements**

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The statutory statements of financial position of NYLIAC as of December 31, 2025 and 2024, and the related statutory statements of operations, of changes in capital and surplus, and of cash flows for each of the three years in the period ended December 31, 2025 (including the report of the independent registered public accounting firm) and each of the investment divisions of the Separate Account's statements of assets and liabilities as of December 31, 2025, and the statements of operations and of changes in net assets and the financial highlights for each of the periods indicated in the Financial Statements (including the report of the independent registered public accounting firm) are incorporated by reference in the SAI. The independent registered public accounting firm is PricewaterhouseCoopers LLP.

**State Variations**

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The following lists all material state variations to the statements made in this prospectus. For more information, please review your Policy.

***Arizona:*** 

&nbsp;&nbsp;&nbsp;&nbsp;● **Reinstatement.** If this Policy ends and is reinstated, suicide of the Insured, while sane or insane, within 2 years of the Issue Date is not covered.

***California:*** 

&nbsp;&nbsp;&nbsp;&nbsp;● **Free Look ("Right To Examine Policy").** If you return the Policy, it will be void from the start and a refund will be made within 30 days from the date we are notified.

***District of Columbia:*** 

&nbsp;&nbsp;&nbsp;&nbsp;● **Free Look ("Right To Examine Policy").** Within 10 days after delivery, or if later within 45 days of the date of execution of the application, you can return the Policy to NYLIAC or to the representative through whom it was purchased.

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***Florida:*** 

&nbsp;&nbsp;&nbsp;&nbsp;● **Termination and Late Period.** If the Cash Surrender Value prior to deducting the Monthly Deduction Charge for the next Policy Month is less than or equal to zero, the Policy will continue for a Late Period of 31 days after that Monthly Deduction Day. To inform you of this event, we will mail a notice to you at your last known address at least 30 days before the end of the Late Period.

&nbsp;&nbsp;&nbsp;&nbsp;● **Special Provision Regarding Paid-Up Insurance.** At the beginning of the Late Period, we will transfer any Cash Surrender Value you have invested in the Separate Account Investment Divisions as of the beginning of the Late Period to the Fixed Account. We do this by applying the sum of the remaining Cash Surrender Value, which is already reduced by the amount of any Policy Debt, at the net single Premium rate for the Insured's age and sex based on the mortality table and the guaranteed interest rate shown in the Policy.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;● We will calculate the amount of paid-up insurance as of the beginning of the Late Period.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;● When paid-up insurance begins, we will continue to deduct certain charges for the Policy on each Monthly Deduction Day and will discontinue all other monthly deductions.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;● When insurance has been changed to paid-up insurance, the Life Insurance Benefit Option selected under the Policy will no longer apply and loans, partial surrenders, and transfers will no longer be available. No insurance or benefits from riders will be provided after this paid-up insurance goes into effect. You may surrender the paid-up insurance at any time for the Cash Value, which remains at that time. All insurance will end when you send in your signed request for the Cash Value in Good Order. Please review your Policy for further details.

&nbsp;&nbsp;&nbsp;&nbsp;● **Payment of Policy Proceeds.** The life insurance proceeds of this Policy will bear interest that will accrue at the rate set by us for interest credited on life insurance proceeds equal to or greater than the Moody's Corporate Bond Yield Average–Monthly Corporate.

&nbsp;&nbsp;&nbsp;&nbsp;● **Payment of Cash Surrender Value.** Any payment of the Cash Surrender Value shall include interest at a rate in compliance with the Florida Insurance Code, unless such payment is made by us within 30 days of receipt of the insurance Policy and the request for cash surrender.

***Montana:*** 

&nbsp;&nbsp;&nbsp;&nbsp;● **Unisex Status.** Any variable Policy issues in Montana is always on a unisex basis. Any reference in this prospectus that makes a distinction based on the sex of the Insured should be disregarded for Policies issues in this state.

&nbsp;&nbsp;&nbsp;&nbsp;● **Payment of Policy Proceeds.** We will pay the life insurance proceeds to the beneficiary promptly when we have due proof that the Insured died on or after the effective date of the Policy, subject to all of its provisions and subject to any payment we made before notification of death. Any claim for the life insurance proceeds under the Policy will be settled within 60 days of receipt of due proof of death of the Insured, surrender of the Policy, written claim at our Service Office in Good Order and proof of the interest of the claimant.

The life insurance proceeds of the Policy will be paid in one sum. Such life insurance proceeds will bear interest computed daily from the date of the Insured's death to the date of payment. We set the interest rate each year. The minimum rate is 3% per year and will not be less than Montana law requires.

***New York:*** 

&nbsp;&nbsp;&nbsp;&nbsp;● **Free Look ("Right To Examine Policy").** The amount we refund will equal the Premiums paid less loans and surrenders.

&nbsp;&nbsp;&nbsp;&nbsp;● **Life Insurance Proceeds.** We will pay the life insurance proceeds to the Beneficiary within 30 days when we have due proof that the Insured died on or after the Effective Date of this Policy.

&nbsp;&nbsp;&nbsp;&nbsp;● **Face Amount Increase.** Within 10 days after the effective date of an increase, you can cancel the increase by submitting your signed request to our Service Office in Good Order. In this case, any charges paid for the increase will be refunded.

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

&nbsp;&nbsp;&nbsp;&nbsp;● **Face Amount Decrease.** Once per Policy Year, you can decrease your Face Amount, provided at least the Minimum Face Amount shown on Policy Data Page 2 remains in effect.

&nbsp;&nbsp;&nbsp;&nbsp;● **Premium Payments.** If you have an outstanding loan, any Planned or Unplanned Premiums will first be applied to reduce that loan unless you tell us otherwise.

&nbsp;&nbsp;&nbsp;&nbsp;● **Special Provision Regarding Paid-Up Insurance.** You may elect paid-up life insurance by sending a signed request to our Service Office in Good Order. The paid-up insurance will begin on the Policy Anniversary following the date we receive your request. No more Premiums may be paid. It is payable to the Beneficiary when we have proof that the Insured died while the paid-up insurance is in effect.

When paid-up insurance begins, we will transfer any Cash Surrender Value you have invested in the Separate Account Investment Divisions to the Fixed Account and we will continue to deduct certain charges for the Policy on each Monthly Deduction Day. When insurance has been changed to paid-up insurance, the Life Insurance Benefit Option selected under the Policy will no longer apply and loans, partial surrenders, and transfers will no longer be available. No insurance or benefits from riders will be provided after this paid-up insurance goes into effect. You may surrender the paid-up insurance at any time for the full Cash Value, which remains at that time. All insurance will end when you send your signed request for the Cash Value to our Service Office in Good Order. See your Policy for complete details.

&nbsp;&nbsp;&nbsp;&nbsp;● **Reinstatement.** To reinstate this Policy, a payment that is sufficient to keep this Policy in effect for at least 3 months must be made. If this Policy is reinstated, we will reinstate the Cash Value corresponding to the date the Policy ended, less any Policy Debt if not repaid.

&nbsp;&nbsp;&nbsp;&nbsp;● **Transfers.** Any transfer of the assets of the Separate Account to another separate account will only be made if approved by an appropriate insurance supervisory official of the state of New York or deemed approved in accordance with such law or regulation.

&nbsp;&nbsp;&nbsp;&nbsp;● **Change In Investment Objective.** If an investment objective of the Separate Account is changed, it must be approved by the appropriate insurance official of the State of New York or deemed approved in accordance with such law or regulation. This may require a filing with, and approval by, the Superintendent of the Department of Financial Services of the State of New York.

In the event of a material change in the investment Policy of the Separate Account, you have the right to exchange, without evidence of insurability, to a general account life insurance Policy issued by us or one of our affiliates. You may elect to have the date of exchange be within 60 days after the effective date of such change, or the date you receive the notification of the change, whichever is later.

&nbsp;&nbsp;&nbsp;&nbsp;● **Cash Value.** On any day, charges and credits to the Cash Value will be processed in the following order, if applicable:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) crediting of Premium payments and loan repayments;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2) credited interest on the Fixed Account and adjustment of unit values for the Separate Account;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3) charges related to Policyowner requests such as transfers and partial surrenders; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4) monthly deductions.

&nbsp;&nbsp;&nbsp;&nbsp;● **Loan Value.** On or after the first Policy Anniversary and using the Policy as sole security, you may borrow any amount up to the loan value of the Policy. The loan value on any given date is equal to the Cash Value, less any Policy Debt to that date, less an amount that is sufficient to keep this Policy in force for at least 3 months, based on current Policy values at the time of the loan.

&nbsp;&nbsp;&nbsp;&nbsp;● **Loan Account.** The minimum amount allowed for a loan is $500.

&nbsp;&nbsp;&nbsp;&nbsp;● **Information Provided In The Application.** No statement made in connection with the application will be used by us to contest this Policy, or deny a claim, unless that statement is a material misrepresentation and is part of the application.

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

&nbsp;&nbsp;&nbsp;&nbsp;● **Contestable Period.** Any action to contest the Policy may only be made on the basis of any material misstatements in the application.

&nbsp;&nbsp;&nbsp;&nbsp;● **Suicide Exclusion.** If this Policy ends and is reinstated, suicide of the Insured, within 2 years from the date of reinstatement is not covered. However, any suicide exclusion period in effect prior to reinstatement will remain in effect.

&nbsp;&nbsp;&nbsp;&nbsp;● **Deferral of Loan, Surrender, or Life Insurance Benefit Proceeds.** Interest will be paid on any loan or surrender amount or life insurance proceeds deferred beyond 10 working days from the date we receive your request at our Service Office in Good Order. We will set the interest rate to be at least the rate required by law.

&nbsp;&nbsp;&nbsp;&nbsp;● **Age 100 Policy Anniversary.** Beginning on the Policy Anniversary on which the Insured is age 100:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;● No further Planned or Unplanned Premiums will be allowed, except as needed to keep the Policy from lapsing, and no further cost of insurance deductions will be made from the Cash Value. We will continue to deduct all other Monthly Deduction Charges.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;● Partial surrenders and loan repayments will continue to be allowed.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;● Transfers among Investment Divisions will continue to be allowed, subject to limitations.

***North Dakota:*** 

&nbsp;&nbsp;&nbsp;&nbsp;● **Effective Date.** Coverage under this Policy will take effect upon approval of the application and receipt of the first Premium.

&nbsp;&nbsp;&nbsp;&nbsp;● **Life Insurance Proceeds.** We will pay the life insurance proceeds to the Beneficiary within 60 days when we have due proof that the Insured died on or after the Effective Date of this Policy.

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**Appendix: Eligible Portfolios Available Under the Policy**

The following is a list of Eligible Portfolios available under Corp Exec VI VUL as of the date of this Prospectus. Generally, you may allocate your Net Premiums or Cash Value among up to 20 Eligible Portfolios at any one time as well as to the Fixed Account. More information about the Eligible Portfolios is available in the prospectuses for the Eligible Portfolios, which may be amended from time to time and can be found online at https://dfinview.com/NewYorkLife/TAHD/corpexec-vi. You can also request this information at no cost by calling our Service Office at (888) 695-4748, faxing us at (913) 906-4129, or emailing us at NYLAMN_Service@newyorklife.com.

The current expenses and performance information below reflects fees and expenses of the Eligible Portfolios, but do 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 Eligible Portfolio's past performance is not necessarily an indication of future performance.

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| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Type** | **Eligible Portfolio and** <br> **Advisers/Sub-Advisers** | **Current**<br> **Expenses** | **Average Annual Total Returns**<br> **(as of 12/31/2025)** | **Average Annual Total Returns**<br> **(as of 12/31/2025)** | **Average Annual Total Returns**<br> **(as of 12/31/2025)** |
| **Type** | **Eligible Portfolio and** <br> **Advisers/Sub-Advisers** | **Current**<br> **Expenses** | **1 year** | **5 year** | **10 year** |
| Large Cap Equity | NYLIM VP American Century Large <br> Cap Equity (formerly NYLI VP <br> American Century Sustainable <br>Equity)–Initial Class<br>*Adviser: New York Life Investment* <br> *Management LLC ("New York Life* <br> *Investments") / Sub-Adviser: American* <br> *Century Investment Management, Inc.* <br> *("ACIM")*<br>| 0.68% | 11.34% | 13.96% | 11.86% |
| Investment Grade Bond | NYLIM VP Bond (formerly NYLI VP <br> Bond)–Initial Class<br>*Adviser: New York Life Investments /* <br> *Sub-Adviser: NYL Investors LLC* <br> *("NYLI")*<br>| 0.55% | 6.83% | (0.63%) | 1.96% |
| International/Global Equity | NYLIM VP Candriam Emerging <br> Markets Equity (formerly NYLI VP <br> Candriam Emerging Markets <br> Equity)–Initial Class\*\*<br>*Adviser: New York Life Investments /* <br> *Sub-Adviser: Candriam*<br>| 1.20% | 35.88% | 2.77% | 7.65% |
| Large Cap Equity | NYLIM VP Dimensional U.S. Equity <br> (formerly NYLI VP Dimensional U.S. <br> Equity)–Initial Class<br>*Adviser: New York Life Investments /* <br> *Sub-Adviser: Dimensional Fund* <br> *Advisors L.P. ("DFA")*<br>| 0.54% | 13.75% | 12.39% | 12.68% |
| Large Cap Equity | NYLIM VP Epoch U.S. Equity Yield <br> (formerly NYLI VP Epoch U.S. Equity <br> Yield)–Initial Class<br>*Adviser: New York Life Investments /* <br> *Sub-Adviser: Epoch Investment* <br> *Partners, Inc.*<br>| 0.68% | 14.24% | 12.02% | 9.96% |

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| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Type** | **Eligible Portfolio and** <br> **Advisers/Sub-Advisers** | **Current**<br> **Expenses** | **Average Annual Total Returns**<br> **(as of 12/31/2025)** | **Average Annual Total Returns**<br> **(as of 12/31/2025)** | **Average Annual Total Returns**<br> **(as of 12/31/2025)** |
| **Type** | **Eligible Portfolio and** <br> **Advisers/Sub-Advisers** | **Current**<br> **Expenses** | **1 year** | **5 year** | **10 year** |
| Sector | NYLIM VP Fidelity Institutional AM<sup>®</sup> <br> Utilities (formerly NYLI VP Fidelity <br> Institutional AM<sup>®</sup> Utilities)–Initial Class<br>*Adviser: New York Life Investments /* <br> *Sub-Adviser: FIAM LLC*<br>| 0.68% | 13.79% | 12.34% | 10.97% |
| Non-Investment Grade Bond | NYLIM VP Floating Rate (formerly <br> NYLI VP Floating Rate)–Initial Class<br>*Adviser: New York Life Investments /* <br> *Sub-Adviser: NYLI*<br>| 0.64% | 5.13% | 5.43% | 5.01% |
| Alternatives | NYLIM VP Hedge Multi-Strategy <br> (formerly NYLI VP Hedge <br> Multi-Strategy)–Initial Class<br>*Adviser: New York Life Investments*<br>| 1.01% | 8.05% | 2.92% | 2.07% |
| Asset Allocation | NYLIM VP Income Builder (formerly <br> NYLI VP Income Builder)–Initial Class<br>*Adviser: New York Life Investments /* <br> *Sub-Advisers: Epoch Investment* <br> *Partners, Inc. and MacKay Shields LLC* <br> *("MacKay")*<br>| 0.63% | 16.99% | 6.56% | 7.40% |
| Asset Allocation | NYLIM VP Janus Henderson Balanced <br> (formerly NYLI VP Janus Henderson <br> Balanced)–Initial Class<br>*Adviser: New York Life Investments /* <br> *Sub-Adviser: Janus Henderson* <br> *Investors US LLC ("Janus")*<br>| 0.58% | 15.05% | 8.58% | 10.19% |
| Non-Investment Grade Bond | NYLIM VP MacKay Convertible <br> (formerly NYLI VP MacKay <br> Convertible)–Initial Class<br>*Adviser: New York Life Investments /* <br> *Sub-Adviser: MacKay*<br>| 0.59% | 16.40% | 5.60% | 10.38% |
| Non-Investment Grade Bond | NYLIM VP MacKay High Yield <br> Corporate Bond (formerly NYLI VP <br> MacKay High Yield Corporate <br> Bond)–Initial Class<br>*Adviser: New York Life Investments /* <br> *Sub-Adviser: MacKay*<br>| 0.59% | 6.87% | 4.44% | 6.14% |
| Investment Grade Bond | NYLIM VP MacKay U.S. Infrastructure <br> Bond (formerly NYLI VP MacKay U.S. <br> Infrastructure Bond)–Initial Class<br>*Adviser: New York Life Investments /* <br> *Sub-Adviser: MacKay*<br>| 0.57% | 8.44% | 0.10% | 1.38% |

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| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Type** | **Eligible Portfolio and** <br> **Advisers/Sub-Advisers** | **Current**<br> **Expenses** | **Average Annual Total Returns**<br> **(as of 12/31/2025)** | **Average Annual Total Returns**<br> **(as of 12/31/2025)** | **Average Annual Total Returns**<br> **(as of 12/31/2025)** |
| **Type** | **Eligible Portfolio and** <br> **Advisers/Sub-Advisers** | **Current**<br> **Expenses** | **1 year** | **5 year** | **10 year** |
| Sector | NYLIM VP Natural Resources (formerly <br> NYLI VP Natural Resources)–Initial <br> Class<br>*Adviser: New York Life Investments /* <br> *Sub-Adviser: Newton Investment* <br> *Management North America, LLC* <br> *("NIMNA")*<br>| 0.85% | 15.20% | 17.27% | 10.88% |
| International/Global Equity | NYLIM VP PineStone International <br> Equity (formerly NYLI VP PineStone <br> International Equity)–Initial Class<br>*Adviser: New York Life Investments /* <br> *Sub-Adviser: PineStone Asset* <br> *Management Inc.*<br>| 0.86% | 12.29% | 0.20% | 5.44% |
| Large Cap Equity | NYLIM VP S&P 500 Index (formerly <br> NYLI VP S&P 500 Index)–Initial Class\*\*<br>*Adviser: New York Life Investments*<br>| 0.12% | 17.72% | 14.28% | 14.63% |
| Small/Mid Cap Equity | NYLIM VP Schroders Mid Cap <br> Opportunities (formerly NYLI VP <br> Schroders Mid Cap <br> Opportunities)–Initial Class<br>*Adviser: New York Life Investments /* <br> *Sub-Adviser: Schroder Investment* <br> *Management North America Inc.*<br>| 0.83% | 7.27% | 5.05% | 7.39% |
| Small/Mid Cap Equity | NYLIM VP Small Cap Growth (formerly <br> NYLI VP Small Cap Growth)–Initial <br> Class<br>*Adviser: New York Life Investments /* <br> *Sub-Advisers: Brown Advisory, LLC and* <br> *Segall Bryant & Hamill, LLC*<br>| 0.86% | 4.89% | 1.64% | 8.95% |
| Money Market | NYLIM VP U.S. Government Money <br> Market (formerly NYLI VP U.S. <br> Government Money Market)–Initial <br> Class<br>*Adviser: New York Life Investments /* <br> *Sub-Adviser: NYLI*<br>| 0.28% | 4.05% | 3.02% | 1.89% |
| Large Cap Equity | NYLIM VP Wellington Growth (formerly <br> NYLI VP Wellington Growth)–Initial <br> Class\*\*<br>*Adviser: New York Life Investments /* <br> *Sub-Adviser: Wellington Management* <br> *Company LLP ("Wellington")*<br>| 0.73% | 17.06% | 10.37% | 13.45% |

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| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Type** | **Eligible Portfolio and** <br> **Advisers/Sub-Advisers** | **Current**<br> **Expenses** | **Average Annual Total Returns**<br> **(as of 12/31/2025)** | **Average Annual Total Returns**<br> **(as of 12/31/2025)** | **Average Annual Total Returns**<br> **(as of 12/31/2025)** |
| **Type** | **Eligible Portfolio and** <br> **Advisers/Sub-Advisers** | **Current**<br> **Expenses** | **1 year** | **5 year** | **10 year** |
| Small/Mid Cap Equity | NYLIM VP Wellington Small Cap <br> (formerly NYLI VP Wellington Small <br> Cap)–Initial Class<br>*Adviser: New York Life Investments /* <br> *Sub-Adviser: Wellington*<br>| 0.75% | 9.53% | 5.93% | 7.41% |
| Large Cap Equity | NYLIM VP Winslow Large Cap Growth <br> (formerly NYLI VP Winslow Large Cap <br> Growth)–Initial Class<br>*Adviser: New York Life Investments /* <br> *Sub-Adviser: Winslow Capital* <br> *Management, LLC*<br>| 0.75% | 14.35% | 12.69% | 16.14% |
| Small/Mid Cap Equity | AB VPS Discovery Value <br> Portfolio–Class A<br>*Adviser: AllianceBernstein L.P. ("AB")*<br>| 0.82% | 2.89% | 8.75% | 8.55% |
| International/Global Equity | AB VPS International Value <br> Portfolio–Class A\*<br>*Adviser: AB*<br>| 0.90% | 41.70% | 10.47% | 6.64% |
| Large Cap Equity | AB VPS Large Cap Growth <br> Portfolio–Class A<br>*Adviser: AB*<br>| 0.65% | 13.13% | 12.04% | 16.17% |
| Large Cap Equity | AB VPS Relative Value Portfolio–Class <br> A<br>*Adviser: AB*<br>| 0.59% | 10.47% | 11.42% | 10.57% |
| Small/Mid Cap Equity | AB VPS Small Cap Growth <br> Portfolio–Class A<br>*Adviser: AB*<br>| 0.90% | 4.80% | (0.44%) | 11.26% |
| Small/Mid Cap Equity | Alger Small Cap Growth <br> Portfolio–Class I-2 Shares<br>*Adviser: Fred Alger Management, LLC* <br> *(Weatherbie Capital, LLC)*<br>| 0.97% | 5.91% | (4.93%) | 8.83% |
| Asset Allocation | American Funds<sup>®</sup> IS American Funds <br> Global Balanced Fund–Class 1<br>*Adviser: Capital Research and* <br> *Management Company*<sup>SM</sup> *("CRMC")*<br>| 0.51% | 17.42% | 6.37% | 7.96% |
| Asset Allocation | American Funds<sup>®</sup> IS Asset Allocation <br> Fund–Class 1<br>*Adviser: CRMC*<br>| 0.29% | 16.16% | 9.24% | 10.05% |

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| | | | | |
|:---|:---|:---|:---|:---|
| **Type** | **Current**<br> **Expenses** | **Average Annual Total Returns**<br> **(as of 12/31/2025)** | **Average Annual Total Returns**<br> **(as of 12/31/2025)** | **Average Annual Total Returns**<br> **(as of 12/31/2025)** |
| **Type** | **Current**<br> **Expenses** | **1 year** | **5 year** | **10 year** |
| Investment Grade Bond<br> American Funds<sup>®</sup> IS The Bond Fund of <br> America<sup>®</sup>–Class 1<br>*Adviser: CRMC*<br>| 0.22% | 7.40% | 0.10% | 2.61% |
| Investment Grade Bond<br> American Funds<sup>®</sup> IS Capital World <br> Bond Fund<sup>®</sup>–Class 1<br>*Adviser: CRMC*<br>| 0.48% | 9.55% | (2.27%) | 1.47% |
| International/Global Equity<br> American Funds<sup>®</sup> IS EUPAC Fund<sup>TM</sup> <br>(formerly American Funds<sup>®</sup> IS <br> International Fund)–Class 1<br>*Adviser: CRMC*<br>| 0.47% | 27.04% | 3.66% | 7.26% |
| International/Global Equity<br> American Funds<sup>®</sup> IS Global Growth <br> Fund–Class 1<br>*Adviser: CRMC*<br>| 0.40% | 21.98% | 8.51% | 12.46% |
| Large Cap Equity<br> American Funds<sup>®</sup> IS Growth <br> Fund–Class 1<br>*Adviser: CRMC*<br>| 0.33% | 20.54% | 13.66% | 18.26% |
| Large Cap Equity<br> American Funds<sup>®</sup> IS Growth-Income <br> Fund–Class 1<br>*Adviser: CRMC*<br>| 0.28% | 18.37% | 14.19% | 14.20% |
| International/Global Equity<br> American Funds<sup>®</sup> IS New World <br> Fund<sup>®</sup>–Class 1<br>*Adviser: CRMC*<br>| 0.57% | 28.60% | 5.59% | 9.53% |
| International/Global Equity<br> American Funds<sup>®</sup> IS SMALLCAP World <br> Fund<sup>®</sup> (formerly American Funds<sup>®</sup> IS <br> Global Small Capitalization <br> Fund)–Class 1<br>*Adviser: CRMC*<br>| 0.65% | 14.89% | 0.73% | 7.50% |
| Investment Grade Bond<br> American Funds<sup>®</sup> IS U.S. Government <br> Securities Fund<sup>®</sup>–Class 1<br>*Adviser: CRMC*<br>| 0.25% | 8.01% | 0.01% | 1.95% |
| Large Cap Equity<br> American Funds<sup>®</sup> IS Washington <br> Mutual Investors Fund–Class 1<br>*Adviser: CRMC*<br>| 0.25% | 17.50% | 14.17% | 12.65% |

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| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Type** | **Eligible Portfolio and** <br> **Advisers/Sub-Advisers** | **Current**<br> **Expenses** | **Average Annual Total Returns**<br> **(as of 12/31/2025)** | **Average Annual Total Returns**<br> **(as of 12/31/2025)** | **Average Annual Total Returns**<br> **(as of 12/31/2025)** |
| **Type** | **Eligible Portfolio and** <br> **Advisers/Sub-Advisers** | **Current**<br> **Expenses** | **1 year** | **5 year** | **10 year** |
| Asset Allocation | BlackRock<sup>®</sup> Global Allocation V.I. <br> Fund–Class I<br>*Adviser: BlackRock Advisors, LLC* <br> *("BlackRock") / Sub-Advisers:* <br> *BlackRock (Singapore) Limited and* <br> *BlackRock International Limited*<br>| 0.76% | 19.80% | 5.79% | 7.59% |
| Non-Investment Grade Bond | BlackRock<sup>®</sup> High Yield V.I. Fund–Class <br> I<br>*Adviser: BlackRock / Sub-Adviser:* <br> *BlackRock International Limited*<br>| 0.54% | 9.19% | 4.79% | 6.31% |
| Sector | BNY Mellon IP Technology Growth <br> Portfolio–Initial Shares<br>*Adviser: BNY Mellon Investment* <br> *Adviser, Inc. / Sub-Adviser: NIMNA*<br>| 0.82% | 28.16% | 9.24% | 17.27% |
| Large Cap Equity | BNY Mellon Sustainable U.S. Equity <br> Portfolio–Initial Shares<br>*Adviser: BNY Mellon Investment* <br> *Adviser, Inc. / Sub-Advisers: NIMNA* <br> *and Newton Investment Management* <br> *Limited*<br>| 0.66% | 15.97% | 11.93% | 13.56% |
| Small/Mid Cap Equity | ClearBridge Variable Small Cap Growth <br> Portfolio–Class I<br>*Adviser: Franklin Templeton Fund* <br> *Adviser, LLC ("FTFA") / Sub-Adviser:* <br> *ClearBridge Investments, LLC* <br> *("ClearBridge")*<br>| 0.81% | 9.23% | (0.17%) | 9.38% |
| Large Cap Equity | Columbia Variable Portfolio–Disciplined <br> Core Fund–Class 1<br>*Adviser: Columbia Management* <br> *Investment Advisers, LLC ("Columbia") /* <br> *Sub-Adviser: Threadneedle* <br> *International Limited*<br>| 0.67% | 26.06% | 14.06% | 12.15% |
| Non-Investment Grade Bond | Columbia Variable Portfolio–Emerging <br> Markets Bond Fund–Class 1<br>*Adviser: Columbia*<br>| 0.75% | 12.78% | 1.70% | 4.28% |
| Investment Grade Bond | Columbia Variable <br> Portfolio–Intermediate Bond <br> Fund–Class 1<br>*Adviser: Columbia*<br>| 0.52% | 9.06% | (0.43%) | 2.77% |

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| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Type** | **Eligible Portfolio and** <br> **Advisers/Sub-Advisers** | **Current**<br> **Expenses** | **Average Annual Total Returns**<br> **(as of 12/31/2025)** | **Average Annual Total Returns**<br> **(as of 12/31/2025)** | **Average Annual Total Returns**<br> **(as of 12/31/2025)** |
| **Type** | **Eligible Portfolio and** <br> **Advisers/Sub-Advisers** | **Current**<br> **Expenses** | **1 year** | **5 year** | **10 year** |
| Small/Mid Cap Equity | Columbia Variable Portfolio–Small <br> Company Growth Fund–Class 1<br>*Adviser: Columbia*<br>| 0.87% | 21.69% | 3.59% | 15.19% |
| Non-Investment Grade Bond | Columbia Variable Portfolio–Strategic <br> Income Fund–Class 1<br>*Adviser: Columbia*<br>| 0.69% | 7.21% | 4.28% | 5.85% |
| Large Cap Equity | Davis Equity Portfolio\*\*<br>*Adviser: Davis Selected Advisers, L.P. /* <br> *Sub-Adviser: Davis Selected* <br> *Advisers—NY, Inc.*<br>| 0.71% | 27.24% | 13.39% | 12.52% |
| Investment Grade Bond | Dimensional VA Global Bond Portfolio<br>*Adviser: DFA / Sub-Advisers:* <br> *Dimensional Fund Advisors Ltd. ("DFA* <br> *Ltd.") and DFA Australia Limited* <br> *("DFAA")*<br>| 0.21% | 4.35% | 1.38% | 1.81% |
| Asset Allocation | Dimensional VA Global Moderate <br> Allocation Portfolio<br>*Adviser: DFA*<br>| 0.28% | 14.68% | 8.42% | 8.65% |
| International/Global Equity | Dimensional VA International Small <br> Portfolio<br>*Adviser: DFA / Sub-Advisers: DFA Ltd.* <br> *and DFAA*<br>| 0.39% | 36.99% | 8.89% | 8.68% |
| International/Global Equity | Dimensional VA International Value <br> Portfolio<br>*Adviser: DFA / Sub-Advisers: DFA Ltd.* <br> *And DFAA*<br>| 0.27% | 45.64% | 15.85% | 10.46% |
| Large Cap Equity | Dimensional VA U.S. Large Value <br> Portfolio<br>*Adviser: DFA*<br>| 0.21% | 15.83% | 11.97% | 10.51% |
| Small/Mid Cap Equity | Dimensional VA U.S. Targeted Value <br> Portfolio<br>*Adviser: DFA*<br>| 0.29% | 8.95% | 13.60% | 11.00% |
| Investment Grade Bond | Dimensional VIT Inflation-Protected <br> Securities Portfolio<br>*Adviser: DFA / Sub-Advisers: DFA Ltd.* <br> *and DFAA*<br>| 0.11% | 7.55% | 1.05% | 3.12% |

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| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Type** | **Eligible Portfolio and** <br> **Advisers/Sub-Advisers** | **Current**<br> **Expenses** | **Average Annual Total Returns**<br> **(as of 12/31/2025)** | **Average Annual Total Returns**<br> **(as of 12/31/2025)** | **Average Annual Total Returns**<br> **(as of 12/31/2025)** |
| **Type** | **Eligible Portfolio and** <br> **Advisers/Sub-Advisers** | **Current**<br> **Expenses** | **1 year** | **5 year** | **10 year** |
| Alternatives | DWS Alternative Asset Allocation <br> VIP–Class A<br>*Adviser: DWS Investment Management* <br> *Americas Inc. ("DIMA") / Sub-Adviser:* <br> *RREEF Americas LLC*<br>| 0.93% | 10.50% | 5.29% | 4.89% |
| International/Global Equity | DWS Global Small Cap VIP–Class A\*\*<br>*Adviser: DIMA*<br>| 0.87% | 20.51% | 6.74% | 6.70% |
| Small/Mid Cap Equity | DWS Small Cap Index VIP–Class A<br>*Adviser: DIMA / Sub-Adviser: Northern* <br> *Trust Investments, Inc.*<br>| 0.37% | 12.64% | 5.84% | 9.33% |
| Small/Mid Cap Equity | DWS Small Mid Cap Value <br> VIP–Class A<br>*Adviser: DIMA*<br>| 0.80% | 18.21% | 9.66% | 7.57% |
| Asset Allocation | Fidelity<sup>®</sup> VIP Balanced Portfolio–Initial <br> Class<br>*Adviser: Fidelity Management &* <br> *Research Company LLC ("FMR") /* <br> *Sub-Advisers: Other investment* <br> *advisers*<br>| 0.41% | 15.25% | 9.52% | 11.13% |
| Investment Grade Bond | Fidelity<sup>®</sup> VIP Bond Index Portfolio–Initial <br> Class<br>*Adviser: FMR / Sub-Advisers: FMR* <br> *Investment Management (UK) Limited* <br> *and other investment advisers*<br>| 0.14% | 6.98% | (0.57%) | N/A |
| Large Cap Equity | Fidelity<sup>®</sup> VIP Contrafund<sup>SM</sup> <br> Portfolio–Initial Class<br>*Adviser: FMR / Sub-Advisers: FMR* <br> *Co., Inc., an affiliate of FMR ("FMRC")* <br> *and other investment advisers*<br>| 0.54% | 21.52% | 15.37% | 15.78% |
| International/Global Equity | Fidelity<sup>®</sup> VIP Emerging Markets <br> Portfolio–Initial Class<br>*Adviser: FMR / Sub-Advisers: FMRC* <br> *and other investment advisers*<br>| 0.87% | 41.20% | 5.88% | 10.93% |
| Large Cap Equity | Fidelity<sup>®</sup> VIP Equity Income <br> Portfolio<sup>SM</sup>–Initial Class<br>*Adviser: FMR / Sub-Advisers: FMRC* <br> *and other investment advisers*<br>| 0.46% | 19.02% | 12.51% | 11.60% |

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| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Type** | **Eligible Portfolio and** <br> **Advisers/Sub-Advisers** | **Current**<br> **Expenses** | **Average Annual Total Returns**<br> **(as of 12/31/2025)** | **Average Annual Total Returns**<br> **(as of 12/31/2025)** | **Average Annual Total Returns**<br> **(as of 12/31/2025)** |
| **Type** | **Eligible Portfolio and** <br> **Advisers/Sub-Advisers** | **Current**<br> **Expenses** | **1 year** | **5 year** | **10 year** |
| Small/Mid Cap Equity | Fidelity<sup>®</sup> VIP Extended Market Index <br> Portfolio–Initial Class<br>*Adviser: FMR / Sub-Advisers: Geode* <br> *Capital Management, LLC ("Geode")* <br> *and FMRC*<br>| 0.12% | 12.32% | 8.02% | N/A |
| Non-Investment Grade Bond | Fidelity<sup>®</sup> VIP Floating Rate High Income <br> Portfolio–Initial Class<br>*Adviser: FMR / Sub-Advisers: FMR* <br> *Investment Management (UK) Limited* <br> *and other investment advisers*<br>| 0.73% | 5.33% | 6.06% | 5.44% |
| Asset Allocation | Fidelity<sup>®</sup> VIP Freedom 2010 <br> Portfolio<sup>SM</sup>–Initial Class\*\*<br>*Adviser: FMR*<br>| 0.36% | 10.53% | 3.15% | 5.73% |
| Asset Allocation | Fidelity<sup>®</sup> VIP Freedom 2020 <br> Portfolio<sup>SM</sup>–Initial Class<br>*Adviser: FMR*<br>| 0.44% | 13.33% | 4.84% | 7.38% |
| Asset Allocation | Fidelity<sup>®</sup> VIP Freedom 2025 <br> Portfolio<sup>SM</sup>–Initial Class<br>*Adviser: FMR*<br>| 0.46% | 14.59% | 5.52% | 8.02% |
| Asset Allocation | Fidelity<sup>®</sup> VIP Freedom 2030 <br> Portfolio<sup>SM</sup>–Initial Class<br>*Adviser: FMR*<br>| 0.49% | 15.52% | 6.25% | 8.88% |
| Asset Allocation | Fidelity<sup>®</sup> VIP Freedom 2035 <br> Portfolio<sup>SM</sup>–Initial Class<br>*Adviser: FMR*<br>| 0.53% | 16.69% | 7.55% | 10.00% |
| Asset Allocation | Fidelity<sup>®</sup> VIP Freedom 2040 <br> Portfolio<sup>SM</sup>–Initial Class<br>*Adviser: FMR*<br>| 0.57% | 18.79% | 9.01% | 10.87% |
| Asset Allocation | Fidelity<sup>®</sup> VIP Freedom 2045 <br> Portfolio<sup>SM</sup>–Initial Class<br>*Adviser: FMR*<br>| 0.60% | 19.83% | 9.44% | 11.09% |
| Asset Allocation | Fidelity<sup>®</sup> VIP Freedom 2050 <br> Portfolio<sup>SM</sup>–Initial Class<br>*Adviser: FMR*<br>| 0.60% | 19.79% | 9.43% | 11.08% |

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| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Type** | **Eligible Portfolio and** <br> **Advisers/Sub-Advisers** | **Current**<br> **Expenses** | **Average Annual Total Returns**<br> **(as of 12/31/2025)** | **Average Annual Total Returns**<br> **(as of 12/31/2025)** | **Average Annual Total Returns**<br> **(as of 12/31/2025)** |
| **Type** | **Eligible Portfolio and** <br> **Advisers/Sub-Advisers** | **Current**<br> **Expenses** | **1 year** | **5 year** | **10 year** |
| Asset Allocation | Fidelity<sup>®</sup> VIP Freedom 2055 <br> Portfolio<sup>SM</sup>–Initial Class<br>*Adviser: FMR*<br>| 0.60% | 19.85% | 9.43% | N/A |
| Asset Allocation | Fidelity<sup>®</sup> VIP Freedom 2060 <br> Portfolio<sup>SM</sup>–Initial Class<br>*Adviser: FMR*<br>| 0.60% | 19.83% | 9.44% | N/A |
| Asset Allocation | Fidelity<sup>®</sup> VIP Freedom 2065 <br> Portfolio<sup>SM</sup>–Initial Class<br>*Adviser: FMR*<br>| 0.60% | 19.86% | 9.43% | N/A |
| Money Market | Fidelity<sup>®</sup> VIP Government Money <br> Market Portfolio–Initial Class<br>*Adviser: FMR / Sub-Advisers: Other* <br> *investment advisers*<br>| 0.25% | 4.13% | 3.10% | 2.03% |
| Large Cap Equity | Fidelity<sup>®</sup> VIP Growth Opportunities <br> Portfolio–Initial Class<br>*Adviser: FMR / Sub-Advisers: Other* <br> *investment advisers*<br>| 0.56% | 22.02% | 11.31% | 19.94% |
| Large Cap Equity | Fidelity<sup>®</sup> VIP Growth Portfolio–Initial <br> Class<br>*Adviser: FMR / Sub-Advisers: FMRC* <br> *and other investment advisers*<br>| 0.55% | 14.92% | 13.70% | 17.45% |
| Sector | Fidelity<sup>®</sup> VIP Health Care <br> Portfolio–Initial Class<br>*Adviser: FMR / Sub-Advisers: Other* <br> *investment advisers*<br>| 0.59% | 14.39% | 4.18% | 8.75% |
| Large Cap Equity | Fidelity<sup>®</sup> VIP Index 500 Portfolio–Initial <br> Class<br>*Adviser: FMR / Sub-Adviser: Geode*<br>| 0.09% | 17.78% | 14.31% | 14.70% |
| International/Global Equity | Fidelity<sup>®</sup> VIP International Capital <br> Appreciation Portfolio–Initial Class<br>*Adviser: FMR / Sub-Advisers: Other* <br> *investment advisers*<br>| 0.78% | 18.69% | 6.26% | 9.81% |
| International/Global Equity | Fidelity<sup>®</sup> VIP International Index <br> Portfolio–Initial Class<br>*Adviser: FMR / Sub-Adviser: Geode*<br>| 0.16% | 33.15% | 8.02% | N/A |

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| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Type** | **Eligible Portfolio and** <br> **Advisers/Sub-Advisers** | **Current**<br> **Expenses** | **Average Annual Total Returns**<br> **(as of 12/31/2025)** | **Average Annual Total Returns**<br> **(as of 12/31/2025)** | **Average Annual Total Returns**<br> **(as of 12/31/2025)** |
| **Type** | **Eligible Portfolio and** <br> **Advisers/Sub-Advisers** | **Current**<br> **Expenses** | **1 year** | **5 year** | **10 year** |
| Investment Grade Bond | Fidelity<sup>®</sup> VIP Investment Grade Bond <br> Portfolio–Initial Class<br>*Adviser: FMR / Sub-Advisers: FMR* <br> *Investment Management (UK) Limited* <br> *and other investment advisers*<br>| 0.37% | 7.22% | 0.06% | 2.71% |
| Small/Mid Cap Equity | Fidelity<sup>®</sup> VIP Mid Cap Portfolio–Initial <br> Class<br>*Adviser: FMR / Sub-Advisers: Other* <br> *investment advisers*<br>| 0.55% | 11.75% | 10.10% | 10.59% |
| International/Global Equity | Fidelity<sup>®</sup> VIP Overseas Portfolio–Initial <br> Class\*\*<br>*Adviser: FMR / Sub-Advisers: FMR* <br> *Investment Management (UK) Limited* <br> *and other investment advisers*<br>| 0.72% | 20.39% | 6.62% | 7.93% |
| Sector | Fidelity<sup>®</sup> VIP Real Estate <br> Portfolio–Initial Class\*\*<br>*Adviser: Fidelity SelectCo., LLC, an* <br> *affiliate of FMR / Sub-Advisers: Other* <br> *investment advisers*<br>| 0.60% | 3.10% | 4.23% | 3.87% |
| Non-Investment Grade Bond | Fidelity<sup>®</sup> VIP Strategic Income <br> Portfolio–Initial Class<br>*Adviser: FMR / Sub-Advisers: Other* <br> *investment advisers*<br>| 0.63% | 8.85% | 3.07% | 4.66% |
| Sector | Fidelity<sup>®</sup> VIP Technology Portfolio–Initial <br> Class<br>*Adviser: FMR / Sub-Advisers: Other* <br> *investment advisers*<br>| 0.56% | 23.86% | 16.83% | 23.76% |
| Large Cap Equity | Fidelity<sup>®</sup> VIP Total Market Index <br> Portfolio–Initial Class<br>*Adviser: FMR / Sub-Adviser: Geode*<br>| 0.11% | 17.11% | 13.14% | N/A |
| Large Cap Equity | Fidelity<sup>®</sup> VIP Value Portfolio–Initial <br> Class\*\*<br>*Adviser: FMR / Sub-Advisers: Other* <br> *investment advisers*<br>| 0.60% | 11.23% | 13.10% | 11.24% |
| Small/Mid Cap Equity | Fidelity<sup>®</sup> VIP Value Strategies <br> Portfolio–Service Class 2\*\*<br>*Adviser: FMR / Sub-Advisers: Other* <br> *investment advisers*<br>| 0.85% | 7.70% | 11.87% | 10.54% |

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| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Type** | **Eligible Portfolio and** <br> **Advisers/Sub-Advisers** | **Current**<br> **Expenses** | **Average Annual Total Returns**<br> **(as of 12/31/2025)** | **Average Annual Total Returns**<br> **(as of 12/31/2025)** | **Average Annual Total Returns**<br> **(as of 12/31/2025)** |
| **Type** | **Eligible Portfolio and** <br> **Advisers/Sub-Advisers** | **Current**<br> **Expenses** | **1 year** | **5 year** | **10 year** |
| Sector | Franklin Gold and Precious Metals VIP <br> Fund—Class 1<br>*Adviser: Franklin Advisers, Inc. ("FAV")*<br>| 0.70% | N/A | N/A | N/A |
| International/Global Equity | Goldman Sachs VIT International <br> Equity Insights Fund—Institutional <br>Class<br>*Adviser: Goldman Sachs Asset* <br> *Management, L.P.*<br>| 0.80% | 6.12% | 5.46% | 4.88% |
| Investment Grade Bond | Invesco V.I. Core Plus Bond <br> Fund–Series I Shares<br>*Adviser: Invesco Advisers, Inc.* <br> *("Invesco")*<br>| 0.62% | 7.09% | (0.11%) | 2.99% |
| Large Cap Equity | Invesco V.I. Discovery Large Cap <br> Fund–Series I Shares\*\*<br>*Adviser: Invesco*<br>| 0.80% | 12.79% | 11.69% | 14.22% |
| International/Global Equity | Invesco V.I. EQV International Equity <br> Fund–Series I Shares<br>*Adviser: Invesco*<br>| 0.90% | 16.50% | 3.68% | 6.22% |
| Sector | Invesco V.I. Global Real Estate <br> Fund–Series I Shares\*\*<br>*Adviser: Invesco / Sub-Adviser: Invesco* <br> *Asset Management Limited*<br>| 1.02% | 7.85% | 1.73% | 2.44% |
| Small/Mid Cap Equity | Invesco V.I. Main Street Mid Cap <br> Fund<sup>®</sup>–Series I Shares\*\*<br>*Adviser: Invesco*<br>| 0.94% | 9.19% | 9.11% | 9.35% |
| Small/Mid Cap Equity | Invesco V.I. Main Street Small Cap <br> Fund<sup>®</sup>–Series I Shares<br>*Adviser: Invesco*<br>| 0.84% | 8.70% | 8.34% | 10.59% |
| Small/Mid Cap Equity | Janus Henderson Enterprise <br> Portfolio–Institutional Shares<br>*Adviser: Janus*<br>| 0.72% | 7.67% | 7.62% | 12.79% |
| Investment Grade Bond | Janus Henderson Flexible Bond <br> Portfolio–Institutional Shares\*\*<br>*Adviser: Janus*<br>| 0.57% | 7.40% | (0.23%) | 2.32% |

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| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Type** | **Eligible Portfolio and** <br> **Advisers/Sub-Advisers** | **Current**<br> **Expenses** | **Average Annual Total Returns**<br> **(as of 12/31/2025)** | **Average Annual Total Returns**<br> **(as of 12/31/2025)** | **Average Annual Total Returns**<br> **(as of 12/31/2025)** |
| **Type** | **Eligible Portfolio and** <br> **Advisers/Sub-Advisers** | **Current**<br> **Expenses** | **1 year** | **5 year** | **10 year** |
| Large Cap Equity | Janus Henderson Forty <br> Portfolio–Institutional Shares\*\*<br>*Adviser: Janus*<br>| 0.62% | 18.14% | 11.65% | 16.24% |
| International/Global Equity | Janus Henderson Global Research <br> Portfolio–Institutional Shares<br>*Adviser: Janus*<br>| 0.82% | 20.92% | 12.51% | 12.93% |
| International/Global Equity | Lazard Retirement International Equity <br> Portfolio–Service Shares\*\*<br>*Adviser: Lazard Asset Management* <br> *LLC*<br>| 1.10% | 33.12% | 7.95% | 6.82% |
| Small/Mid Cap Equity | Lord Abbett Series Fund Developing <br> Growth Portfolio–Class VC\*\*<br>*Adviser: Lord, Abbett & Co. LLC ("Lord* <br> *Abbett")*<br>| 1.04% | 14.59% | (1.17%) | 11.03% |
| Small/Mid Cap Equity | Lord Abbett Series Fund Mid Cap Stock <br> Portfolio–Class VC\*\*<br>*Adviser: Lord Abbett*<br>| 1.15% | 7.05% | 10.16% | 7.98% |
| Investment Grade Bond | Lord Abbett Series Fund, Inc.–Short <br> Duration Income Portfolio–Class I<br>*Adviser: Lord Abbett*<br>| 0.47% | N/A | N/A | N/A |
| Investment Grade Bond | LVIP American Century Inflation <br> Protection Fund–Service Class<br>*Adviser: Lincoln Financial Investments* <br> *Corporation ("LFIC") / Sub-Adviser:* <br> *ACIM*<br>| 0.72% | 1.54% | 1.22% | 1.73% |
| Small/Mid Cap Equity | LVIP American Century Mid Cap Value <br> Fund–Service Class\*<br>*Adviser: LFIC / Sub-Adviser: ACIM*<br>| 1.01% | 8.52% | 7.13% | 7.87% |
| Large Cap Equity | LVIP American Century Value <br> Fund–Service Class<br>*Adviser: LFIC / Sub-Adviser: ACIM*<br>| 0.86% | 9.29% | 8.41% | 8.01% |
| Small/Mid Cap Equity | LVIP Baron Growth Opportunities <br> Fund–Service Class\*<br>*Adviser: LFIC / Sub-Adviser: BAMCO,* <br> *Inc.*<br>| 1.15% | 5.44% | 7.96% | 9.41% |

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| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Type** | **Eligible Portfolio and** <br> **Advisers/Sub-Advisers** | **Current**<br> **Expenses** | **Average Annual Total Returns**<br> **(as of 12/31/2025)** | **Average Annual Total Returns**<br> **(as of 12/31/2025)** | **Average Annual Total Returns**<br> **(as of 12/31/2025)** |
| **Type** | **Eligible Portfolio and** <br> **Advisers/Sub-Advisers** | **Current**<br> **Expenses** | **1 year** | **5 year** | **10 year** |
| Large Cap Equity | LVIP BlackRock Equity Dividend <br> Fund–Standard Class<br>*Adviser: LFIC / Sub-Adviser:* <br> *BlackRock Investment Management,* <br> *LLC*<br>| 0.66% | 7.18% | 5.69% | 7.18% |
| Large Cap Equity | LVIP ClearBridge Appreciation <br> Fund–Standard Class (formerly <br> ClearBridge Variable Appreciation <br> Portfolio–Class I)<br>*Adviser: LFIC/ Sub-Adviser:* <br> *ClearBridge*<br>| 0.70% | 14.50% | 12.72% | 13.34% |
| Large Cap Equity | LVIP ClearBridge Large Cap Growth <br> Fund–Standard Class (formerly <br> ClearBridge Variable Large Cap Growth <br> Portfolio–Class I)<br>*Adviser: LFIC/ Sub-Adviser:* <br> *ClearBridge*<br>| 0.74% | 8.62% | 10.57% | N/A |
| International/Global Equity | LVIP Franklin Templeton Multi-Factor <br> Emerging Markets Equity <br> Fund–Standard Class<br>*Adviser: LFIC / Sub-Adviser: FAV*<br>| 0.46% | 8.90% | 3.36% | 2.82% |
| International/Global Equity | LVIP Franklin Templeton Multi-Factor <br> International Equity Fund–Standard <br> Class<br>*Adviser: LFIC / Sub-Adviser: FAV*<br>| 0.40% | 3.76% | 4.48% | 4.69% |
| Investment Grade Bond | LVIP JPMorgan Short Duration Bond <br> Fund–Standard Class<br>*Adviser: LFIC / Sub-Adviser: J.P.* <br> *Morgan Investment Management Inc.* <br> *("JPMIM")*<br>| 0.47% | 4.30% | 1.70% | 1.89% |
| International/Global Equity | LVIP Mondrian International Value <br> Fund–Standard Class<br>*Adviser: LFIC / Sub-Adviser: Mondrian* <br> *Investment Partners Limited*<br>| 0.74% | 4.70% | 3.48% | 4.20% |
| Investment Grade Bond | LVIP SSgA Bond Index Fund–Standard <br> Class<br>*Adviser: LFIC / Sub-Adviser: SSgA* <br> *Funds Management, Inc. ("SSGA FM")*<br>| 0.37% | 1.05% | (0.60%) | 1.03% |

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| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Type** | **Eligible Portfolio and** <br> **Advisers/Sub-Advisers** | **Current**<br> **Expenses** | **Average Annual Total Returns**<br> **(as of 12/31/2025)** | **Average Annual Total Returns**<br> **(as of 12/31/2025)** | **Average Annual Total Returns**<br> **(as of 12/31/2025)** |
| **Type** | **Eligible Portfolio and** <br> **Advisers/Sub-Advisers** | **Current**<br> **Expenses** | **1 year** | **5 year** | **10 year** |
| International/Global Equity | LVIP SSgA Emerging Markets Equity <br> Index Fund–Standard Class<br>*Adviser: LFIC / Sub-Adviser: SSGA FM*<br>| 0.50% | 6.80% | 0.75% | N/A |
| International/Global Equity | LVIP SSgA International Index <br> Fund–Standard Class<br>*Adviser: LFIC / Sub-Adviser: SSGA FM*<br>| 0.38% | 3.22% | 4.49% | 4.98% |
| International/Global Equity | MFS<sup>®</sup> Global Growth Portfolio–Initial <br> Class<br>*Adviser: Massachusetts Financial* <br> *Services Company ("MFS")*<br>| 0.88% | 13.59% | 5.72% | 8.91% |
| Sector | MFS<sup>®</sup> Global Real Estate <br> Portfolio–Initial Class<br>*Adviser: MFS*<br>| 0.90% | 3.53% | 1.32% | 5.01% |
| Asset Allocation | MFS<sup>®</sup> Global Tactical Allocation <br> Portfolio–Initial Class<br>*Adviser: MFS*<br>| 0.78% | 15.48% | 4.86% | 5.67% |
| International/Global Equity | MFS<sup>®</sup> International Growth <br> Portfolio–Initial Class<br>*Adviser: MFS*<br>| 0.88% | 21.12% | 7.07% | 9.88% |
| International/Global Equity | MFS<sup>®</sup> International Intrinsic Equity <br> Portfolio (formerly MFS<sup>®</sup> International <br> Intrinsic Value Portfolio)–Initial Class<br>*Adviser: MFS*<br>| 0.89% | 33.26% | 7.28% | 9.95% |
| Small/Mid Cap Equity | MFS<sup>®</sup> Mid Cap Growth Series–Initial <br> Class<br>*Adviser: MFS*<br>| 0.81% | 3.66% | 3.26% | 11.60% |
| Small/Mid Cap Equity | MFS<sup>®</sup> Mid Cap Value Portfolio–Initial <br> Class<br>*Adviser: MFS*<br>| 0.79% | 5.98% | 10.18% | 9.95% |
| Small/Mid Cap Equity | MFS<sup>®</sup> New Discovery Value <br> Portfolio–Initial Class<br>*Adviser: MFS*<br>| 0.88% | 3.08% | 8.48% | 10.58% |
| International/Global Equity | MFS<sup>®</sup> Research International <br> Portfolio–Initial Class<br>*Adviser: MFS*<br>| 0.90% | 22.05% | 5.51% | 7.54% |

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| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Type** | **Eligible Portfolio and** <br> **Advisers/Sub-Advisers** | **Current**<br> **Expenses** | **Average Annual Total Returns**<br> **(as of 12/31/2025)** | **Average Annual Total Returns**<br> **(as of 12/31/2025)** | **Average Annual Total Returns**<br> **(as of 12/31/2025)** |
| **Type** | **Eligible Portfolio and** <br> **Advisers/Sub-Advisers** | **Current**<br> **Expenses** | **1 year** | **5 year** | **10 year** |
| Large Cap Equity | MFS<sup>®</sup> Value Series–Initial Class<br>*Adviser: MFS*<br>| 0.69% | 13.01% | 9.95% | 10.05% |
| Non-Investment Grade Bond | Morgan Stanley VIF Emerging Markets <br> Debt Portfolio–Class I\*\*<br>*Adviser: Morgan Stanley Investment* <br> *Management Inc. ("MSIM")*<br>| 1.10% | 15.33% | 2.70% | 4.51% |
| Small/Mid Cap Equity | Neuberger Berman AMT Mid Cap <br> Intrinsic Value Portfolio–Class I\*\*<br>*Adviser: Neuberger Berman Investment* <br> *Advisers LLC ("Neuberger Berman")*<br>| 0.85% | 11.56% | 10.06% | 7.75% |
| Large Cap Equity | Neuberger Berman AMT Quality Equity <br> Portfolio (formerly Neuberger Berman <br> AMT Sustainable Equity <br> Portfolio)–Class I\*\*<br>*Adviser: Neuberger Berman*<br>| 0.87% | 13.74% | 12.83% | 12.94% |
| International/Global Equity | Nomura VIP Emerging Markets Series <br> (formerly Macquarie VIP Emerging <br> Markets Series)–Standard Class<br>*Adviser: Delaware Management* <br> *Company, a series of Nomura* <br> *Investment Management Business* <br> *Trust ("DMC")*<br>| 1.16% | 81.26% | 8.81% | 12.17% |
| International/Global Equity | Nomura VIP International Core Equity <br> Series (formerly Macquarie VIP <br> International Core Equity <br> Series)–Standard Class\*\*<br>*Adviser: DMC*<br>| 0.86% | 24.55% | N/A | N/A |
| Small/Mid Cap Equity | Nomura VIP Small Cap Value Series <br> (formerly Macquarie VIP Small Cap <br> Value Series)–Standard Class<br>*Adviser: DMC*<br>| 0.74% | 8.16% | 9.26% | 9.15% |
| Non-Investment Grade Bond <br>| PIMCO VIT Emerging Markets Bond <br> Portfolio–Institutional Class<br>*Adviser: Pacific Investment* <br> *Management Company LLC ("PIMCO")*<br>| 1.02% | 15.15% | 2.60% | 5.22% |
| Investment Grade Bond | PIMCO VIT Global Bond Opportunities <br> Portfolio (Unhedged)–Administrative <br> Class<br>*Adviser: PIMCO*<br>| 1.15% | 12.87% | 0.17% | 2.47% |

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| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Type** | **Eligible Portfolio and** <br> **Advisers/Sub-Advisers** | **Current**<br> **Expenses** | **Average Annual Total Returns**<br> **(as of 12/31/2025)** | **Average Annual Total Returns**<br> **(as of 12/31/2025)** | **Average Annual Total Returns**<br> **(as of 12/31/2025)** |
| **Type** | **Eligible Portfolio and** <br> **Advisers/Sub-Advisers** | **Current**<br> **Expenses** | **1 year** | **5 year** | **10 year** |
| Non-Investment Grade Bond | PIMCO VIT High Yield <br> Portfolio–Administrative Class<br>*Adviser: PIMCO*<br>| 0.81% | 8.95% | 3.97% | 5.57% |
| Investment Grade Bond | PIMCO VIT Income <br> Portfolio–Institutional Class<br>*Adviser: PIMCO*<br>| 0.77% | 10.36% | 3.57% | N/A |
| Investment Grade Bond | PIMCO VIT International Bond Portfolio <br> (U.S. Dollar-Hedged)–Institutional Class<br>*Adviser: PIMCO*<br>| 0.94% | 4.10% | 1.18% | 3.04% |
| Investment Grade Bond | PIMCO VIT Long-Term U.S. <br> Government Portfolio–Administrative <br> Class<br>*Adviser: PIMCO*<br>| 2.475% | 6.15% | (6.82%) | 0.01% |
| Investment Grade Bond | PIMCO VIT Low Duration <br> Portfolio–Administrative Class<br>*Adviser: PIMCO*<br>| 0.66% | 5.52% | 1.57% | 1.79% |
| Investment Grade Bond | PIMCO VIT Real Return <br> Portfolio–Administrative Class<br>*Adviser: PIMCO*<br>| 1.39% | 7.85% | 1.21% | 3.21% |
| Investment Grade Bond | PIMCO VIT Short-Term <br> Portfolio–Institutional Class<br>*Adviser: PIMCO*<br>| 0.50% | 4.83% | 3.40% | 2.91% |
| Investment Grade Bond | PIMCO VIT Total Return <br> Portfolio–Administrative Class<br>*Adviser: PIMCO*<br>| 0.73% | 8.89% | 0.02% | 2.36% |
| Sector | Principal VC Real Estate Securities <br> Account–Class 1<br>*Adviser: Principal Global Investors, LLC* <br> */ Sub-Adviser: Principal Real Estate* <br> *Investors, LLC*<br>| 0.78% | 1.24% | 4.88% | 5.94% |
| International/Global Equity | Putnam VT International Value <br> Fund–Class IA<br>*Adviser: Putnam Investment* <br> *Management, LLC / Sub-Advisers: FAV,* <br> *Franklin Templeton Investment* <br> *Management Limited, and The Putnam* <br> *Advisory Company, LLC*<br>| 0.81% | 35.07% | 12.77% | 9.13% |

---

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| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Type** | **Eligible Portfolio and** <br> **Advisers/Sub-Advisers** | **Current**<br> **Expenses** | **Average Annual Total Returns**<br> **(as of 12/31/2025)** | **Average Annual Total Returns**<br> **(as of 12/31/2025)** | **Average Annual Total Returns**<br> **(as of 12/31/2025)** |
| **Type** | **Eligible Portfolio and** <br> **Advisers/Sub-Advisers** | **Current**<br> **Expenses** | **1 year** | **5 year** | **10 year** |
| Large Cap Equity | T. Rowe Price All-Cap Opportunities <br> Portfolio\*\*<br>*Adviser: T. Rowe Price Associates, Inc.* <br> *("T. Rowe Price")*<br>| 0.80% | 16.30% | 12.22% | 16.93% |
| Large Cap Equity | T. Rowe Price Blue Chip Growth <br> Portfolio<br>*Adviser: T. Rowe Price*<br>| 0.75% | 18.74% | 11.68% | 15.54% |
| International/Global Equity | T. Rowe Price International Stock <br> Portfolio<br>*Adviser: T. Rowe Price*<br>| 0.95% | 18.41% | 3.92% | 7.10% |
| Investment Grade Bond | T. Rowe Price Limited-Term Bond <br> Portfolio\*\*<br>Adviser: T. Rowe Price<br>| 0.50% | 5.71% | 2.17% | 2.34% |
| Asset Allocation | T. Rowe Price Moderate Allocation <br> Portfolio\*\*<br>Adviser: T. Rowe Price<br>| 0.85% | 14.50% | 5.50% | 7.84% |
| Asset Allocation | Thrivent Aggressive Allocation Portfolio<br>*Adviser: Thrivent Financial for* <br> *Lutherans ("Thrivent")*<br>| 0.85% | 15.81% | 9.61% | 11.26% |
| Asset Allocation | Thrivent Conservative Allocation <br> Portfolio<br>*Adviser: Thrivent*<br>| 0.50% | 10.17% | 4.03% | 5.42% |
| International/Global Equity | Thrivent Global Stock Portfolio<br>*Adviser: Thrivent*<br>| 0.60% | 20.82% | 10.69% | 10.67% |
| Large Cap Equity | Thrivent Large Cap Growth Portfolio<br>*Adviser: Thrivent*<br>| 0.43% | 16.95% | 12.89% | 16.35% |
| Small/Mid Cap Equity | Thrivent Mid Cap Index Portfolio<br>*Adviser: Thrivent*<br>| 0.25% | 7.23% | 8.86% | 10.46% |
| Small/Mid Cap Equity | Thrivent Mid Cap Stock Portfolio<br>*Adviser: Thrivent*<br>| 0.66% | 4.43% | 6.86% | 11.30% |
| Small/Mid Cap Equity | Thrivent Small Cap Index Portfolio<br>*Adviser: Thrivent*<br>| 0.24% | 5.80% | 7.06% | 9.57% |

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| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Type** | **Eligible Portfolio and** <br> **Advisers/Sub-Advisers** | **Current**<br> **Expenses** | **Average Annual Total Returns**<br> **(as of 12/31/2025)** | **Average Annual Total Returns**<br> **(as of 12/31/2025)** | **Average Annual Total Returns**<br> **(as of 12/31/2025)** |
| **Type** | **Eligible Portfolio and** <br> **Advisers/Sub-Advisers** | **Current**<br> **Expenses** | **1 year** | **5 year** | **10 year** |
| Asset Allocation | TOPS<sup>®</sup> Aggressive ETF Portfolio <br> (formerly TOPS<sup>®</sup> Aggressive Growth <br> ETF Portfolio)–Class 2 Shares\*\*<br>*Adviser: ValMark Advisers, Inc.* <br> *("ValMark") / Sub-Adviser: Milliman* <br> *Financial Risk Management LLC* <br> *("Milliman")*<br>| 0.54% | 18.83% | 9.41% | 10.43% |
| Asset Allocation | TOPS<sup>®</sup> Balanced ETF Portfolio–Class 2 <br> Shares\*\*<br>*Adviser: ValMark / Sub-Adviser:* <br> *Milliman*<br>| 0.54% | 12.85% | 5.52% | 6.39% |
| Asset Allocation | TOPS<sup>®</sup> Conservative ETF <br> Portfolio–Class 2 Shares\*\*<br>*Adviser: ValMark / Sub-Adviser:* <br> *Milliman*<br>| 0.56% | 10.15% | 4.34% | 4.99% |
| Asset Allocation | TOPS<sup>®</sup> Managed Risk Moderate ETF <br> Portfolio (formerly TOPS<sup>®</sup> Managed <br> Risk Moderate Growth ETF <br> Portfolio)–Class 2 Shares\*\*<br>*Adviser: ValMark / Sub-Adviser:* <br> *Milliman*<br>| 0.75% | 10.36% | 4.74% | 5.72% |
| Asset Allocation | TOPS<sup>®</sup> Managed Risk Moderately <br> Aggressive ETF Portfolio (formerly <br> TOPS<sup>®</sup> Managed Risk Growth ETF <br> Portfolio)–Class 2 Shares\*\*<br>*Adviser: ValMark / Sub-Adviser:* <br> *Milliman*<br>| 0.75% | 11.65% | 5.36% | 6.13% |
| Asset Allocation | TOPS<sup>®</sup> Moderate ETF Portfolio <br> (formerly TOPS<sup>®</sup> Moderate Growth ETF <br> Portfolio)–Class 2 Shares\*\*<br>*Adviser: ValMark / Sub-Adviser:* <br> *Milliman*<br>| 0.53% | 15.13% | 6.92% | 7.99% |
| Asset Allocation | TOPS<sup>®</sup> Moderately Aggressive ETF <br> Portfolio (formerly TOPS<sup>®</sup> Growth ETF <br> Portfolio)–Class 2 Shares\*\*<br>*Adviser: ValMark / Sub-Adviser:* <br> *Milliman*<br>| 0.54% | 17.99% | 8.56% | 9.53% |
| Non-Investment Grade Bond | VanEck VIP Emerging Markets Bond <br> Fund–Initial Class Shares\*\*<br>*Adviser: Van Eck Associates* <br> *Corporation*<br>| 1.10% | 18.49% | 3.91% | 5.24% |

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| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Type** | **Eligible Portfolio and** <br> **Advisers/Sub-Advisers** | **Current**<br> **Expenses** | **Average Annual Total Returns**<br> **(as of 12/31/2025)** | **Average Annual Total Returns**<br> **(as of 12/31/2025)** | **Average Annual Total Returns**<br> **(as of 12/31/2025)** |
| **Type** | **Eligible Portfolio and** <br> **Advisers/Sub-Advisers** | **Current**<br> **Expenses** | **1 year** | **5 year** | **10 year** |
| Large Cap Equity | Voya Growth and Income <br> Portfolio–Class I<br>*Adviser: Voya Investments, LLC* <br> *("Voya") / Sub-Adviser: Voya* <br> *Investment Management Co. LLC* <br> *("VIM")*<br>| 0.67% | 18.21% | 15.46% | 14.62% |
| Non-Investment Grade Bond | Voya High Yield Portfolio–Class I<br>*Adviser: Voya / Sub-Adviser: VIM*<br>| 0.48% | 8.80% | 3.92% | 5.82% |
| Asset Allocation | Voya Index Solution 2030 <br> Portfolio–Class Z<br>*Adviser: Voya / Sub-Adviser: VIM*<br>| 0.17% | 15.44% | 6.80% | 8.59% |
| Asset Allocation | Voya Index Solution 2040 <br> Portfolio–Class Z<br>*Adviser: Voya / Sub-Adviser: VIM*<br>| 0.16% | 18.91% | 9.05% | 10.33% |
| Asset Allocation | Voya Index Solution 2050 <br> Portfolio–Class Z<br>*Adviser: Voya / Sub-Adviser: VIM*<br>| 0.17% | 20.70% | 10.14% | 10.97% |
| Investment Grade Bond | Voya Intermediate Bond <br> Portfolio—Class I<br>*Adviser: Voya / Sub-Adviser: VIM*<br>| 0.55% | 7.71% | 0.15% | 2.66% |
| Investment Grade Bond | Voya Limited Maturity Bond <br> Portfolio–Class I<br>*Adviser: Voya / Sub-Adviser: VIM*<br>| 0.28% | 5.14% | 1.69% | 1.79% |
| Small/Mid Cap Equity | Voya MidCap Opportunities <br> Portfolio–Class I<br>*Adviser: Voya / Sub-Adviser: VIM*<br>| 0.82% | 3.90% | 4.55% | 10.97% |
| Small/Mid Cap Equity | Voya Russell<sup>TM</sup> Mid Cap Index <br> Portfolio–Class I<br>*Adviser: Voya / Sub-Adviser: VIM*<br>| 0.40% | 10.08% | 8.26% | 10.59% |
| Small/Mid Cap Equity | Voya Small Company Portfolio–Class I<br>*Adviser: Voya / Sub-Adviser: VIM*<br>| 0.87% | 8.59% | 6.26% | 8.39% |
| Small/Mid Cap Equity | VY<sup>®</sup> JPMorgan Mid Cap Value <br> Portfolio—Class I<br>*Adviser: Voya / Sub-Adviser: JPMIM*<br>| 0.85% | 4.63% | 9.53% | 8.75% |

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| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Type** | **Eligible Portfolio and** <br> **Advisers/Sub-Advisers** | **Current**<br> **Expenses** | **Average Annual Total Returns**<br> **(as of 12/31/2025)** | **Average Annual Total Returns**<br> **(as of 12/31/2025)** | **Average Annual Total Returns**<br> **(as of 12/31/2025)** |
| **Type** | **Eligible Portfolio and** <br> **Advisers/Sub-Advisers** | **Current**<br> **Expenses** | **1 year** | **5 year** | **10 year** |
| Small/Mid Cap Equity | VY<sup>®</sup> JPMorgan Small Cap Core Equity <br> Portfolio—Class I<br>*Adviser: Voya / Sub-Adviser: JPMIM*<br>| 0.89% | 3.86% | 4.89% | 9.04% |
| International/Global Equity | VY<sup>®</sup> Morgan Stanley Global Franchise <br> Portfolio—Class R6<br>*Adviser: Voya / Sub-Adviser: MSIM*<br>| 0.89% | 0.33% | 5.06% | N/A |
| Asset Allocation | VY<sup>®</sup> T. Rowe Price Capital Appreciation <br> Portfolio–Class I<br>*Adviser: Voya / Sub-Adviser: T. Rowe* <br> *Price Investment Management*<br>| 0.65% | 12.32% | 9.49% | 11.32% |
| Investment Grade Bond | Western Asset Core Plus VIT <br> Portfolio–Class I\*<br>*Adviser: FTFA / Sub-Advisers: Western* <br> *Asset Management Company Limited,* <br> *Western Asset Management Company,* <br> *LLC, Western Asset Management* <br> *Company Ltd., and Western Asset* <br> *Management Company Pte. Ltd.*<br>| 0.54% | 7.75 | (1.44%) | 2.11% |
| Investment Grade Bond | Western Asset Long Credit VIT <br> Portfolio–Class I\*\*<br>*Adviser: FTFA / Sub-Advisers: Western* <br> *Asset Management Company Limited,* <br> *Western Asset Management Company,* <br> *LLC, Western Asset Management* <br> *Company Ltd., and Western Asset* <br> *Management Company Pte. Ltd.*<br>| 0.41% | 8.59% | N/A | N/A |

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\*

Premiums or transfers will only be accepted into this Investment Division from policyowners already invested in this Investment Division. Policyowners who remove all Cash Value allocations from this Investment Division will not be permitted to reinvest in this Investment Division.

\*\*

No Premiums or transfers will be accepted into this Investment Division. Policyowners who remove any Cash Value allocations from this Investment Division will not be permitted to reinvest in this Investment Division.

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**Obtaining Additional Information**

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The Statement of Additional Information ("SAI") contains additional information about the Policy, including information about compensation arrangements. The SAI is available without charge upon Request. You may Request the SAI, or request other information about the Policy or make investor inquiries, by mail by contacting NYLIAC at our Service Office, or by calling (888) 695-4748. The SAI is also posted at https://dfinview.com/NewYorkLife/TAHD/corpexec-vi. The current SAI is incorporated by reference into the prospectus and has been filed with the SEC.

Reports and other information about the Policy are available on the SEC's internet site at http://www.sec.gov. Copies of this information may be obtained, upon payment of a duplicating fee, by electronic request at the following email address: publicinfo@sec.gov.

For a free personalized illustration, or additional information about your Policy, contact your registered representative or call us at (888) 695-4748.

EDGAR ID: COOOO25718

------

**Statement of Additional Information** 

**dated** 

**May 1, 2026** 

**for** 

**NYLIAC CORPORATE SPONSORED VARIABLE UNIVERSAL LIFE SEPARATE ACCOUNT-I** 

**Corporate Executive Series VI Variable Universal Life Policies** 

**from** 

**NEW YORK LIFE INSURANCE AND ANNUITY CORPORATION** 

This Statement of Additional Information ("SAI") is not a prospectus. The SAI contains information that expands upon subjects discussed in the current CorpExec VUL VI Corporate Executive Series Variable Universal Life (CorpExec VUL) prospectus. You should read the SAI in conjunction with the current CorpExec VUL VI prospectus dated May 1, 2026 and any supplements thereto. This SAI is incorporated by reference into the prospectus. You may obtain a paper copy of the prospectus by contacting New York Life Insurance and Annuity Corporation ("NYLIAC") by mail at 6130 Sprint Parkway, Suite 400, Overland Park, KS 66211 or by phone at 1-888-695-4748. The CorpExec VUL VI prospectus is also posted at the following website: https://dfinview.com/NewYorkLife/TAHD/corpexec-vi. Terms used but not defined in the SAI have the same meaning as in the current CorpExec VUL VI prospectus.

**[**Table of Contents**](#xx_7233ab28-4c85-4a96-96fa-07396c816361_toc_0)** 

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| | |
|:---|:---|
| **[General Information And History](#xx_c0146deb-bcdd-47bb-a671-b9d26c40556d_1)** | &nbsp;&nbsp; 2 |
| **[Non-Principal Risks of Investing in the Contract](#xx_c0146deb-bcdd-47bb-a671-b9d26c40556d_1)** | &nbsp;&nbsp; 2 |
| **[Distribution And Compensation Arrangements](#xx_c0146deb-bcdd-47bb-a671-b9d26c40556d_1)** | &nbsp;&nbsp; 2 |
| **[Financial Statements](#xx_c0146deb-bcdd-47bb-a671-b9d26c40556d_2)** | &nbsp;&nbsp; 3 |
| **CorpExec VUL VI is offered under NYLIAC Corporate Sponsored Variable Universal Life Separate Account-I.** |  |

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**General Information And History**

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The prospectus and SAI describe a flexible premium variable universal life insurance Policy that NYLIAC issues: CorpExec VUL VI.

***About NYLIAC***

NYLIAC is a stock life insurance company incorporated in Delaware in 1980. NYLIAC is licensed to sell life, accident, and health insurance and annuities in the District of Columbia and all states. In addition to the Policy described in the prospectus, NYLIAC offers other life insurance policies and annuities. NYLIAC and Separate Account financial statements are also incorporated in this SAI. NYLIAC's principal business address is 51 Madison Avenue, New York, New York 10010.

NYLIAC is a wholly-owned subsidiary of NYLIC, a mutual life insurance company founded in New York in 1845. NYLIAC had total assets amounting to $223.5 billion at the end of 2025. NYLIC has invested in NYLIAC, and will occasionally make additional contributions to NYLIAC in order to maintain capital and surplus in accordance with state requirements.

***About NYLIAC Corporate Sponsored Variable Universal Life Separate Account-I***

NYLIAC Corporate Sponsored Variable Universal Life Separate Account-I (the "Separate Account") is a segregated asset account that NYLIAC established to receive and invest your Net Premiums. NYLIAC established the Separate Account on May 24, 1996, under the laws of the State of Delaware, in accordance with resolutions set forth by the NYLIAC Board of Directors. The Separate Account is registered as a unit investment trust with the SEC under the Investment Company Act of 1940, as amended. This registration does not mean that the SEC supervises the management, investment practices, or policies of the Separate Account.

**Non-Principal Risks of Investing in the Contract**

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***Geopolitical Risks***

Local, regional or global events such as war, acts of terrorism, the spread of infectious illness or other public health issues like pandemics or epidemics, natural disasters, recessions and other events, could have a serious negative impact on, among other things, the performance, liquidity and valuation of investments in the Eligible Portfolios you choose. In light of these developments, your premium and Cash Value allocation choices should be consistent with your personal investment objective and your risk tolerance. In addition, governmental authorities have recently imposed prohibitions on transactions in investment in certain foreign sectors—for example, prohibitions imposed by the U.S. government on investment in companies in the Communist Chinese defense and related material sectors and surveillance technology sectors. If Eligible Portfolios do not comply with such prohibitions, it is possible that we could not allow contract owners to make any new investment in those Portfolios (by premium allocation or transfer), and we could even require that policyowners move any Cash Value out of the affected Eligible Portfolio(s). You should consult each Fund's prospectus, statement of additional information, and annual and semi-annual reports for more information on these geopolitical risks and potential investment restrictions.

**Distribution And Compensation Arrangements**

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NYLIFE Distributors, the underwriter and distributor of the Policies, is registered with the SEC and FINRA as a broker-dealer. The firm is an indirect wholly-owned subsidiary of NYLIC, and an affiliate of NYLIAC. Its principal business address is 30 Hudson Street, Jersey City, New Jersey 07302.

The Policies are sold by registered representatives of NYLIFE Securities, a broker-dealer that is an affiliate of NYLIFE Distributors, and by registered representatives of unaffiliated broker-dealers. Your registered representative is also a licensed insurance agent with NYLIC. He or she may be qualified to offer other forms of life insurance, annuities, and other investment products. In certain circumstances, NYLIFE Securities registered representatives can sell both products manufactured and issued by NYLIC or its affiliates and products provided by other companies.

The selling broker-dealer, and in turn your registered representative, will receive compensation for selling you this Policy or any other insurance or investment product. Compensation may consist of commissions, asset-based compensation, allowances for expenses, and other compensation programs. The amount of compensation received by your registered representative will vary depending on the Policy that he or she sells, on sales production goals, and on the specific

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payment arrangements of the relevant broker-dealer. Differing compensation arrangements have the potential to influence the recommendation made by your registered representative or broker-dealer.

Broker-dealers will be paid commission not to exceed 30% of Premiums paid up to the Target Premium in Policy Year 1 and 10.25% for Policy Years 2-7 on Premiums paid up to target. In addition, we pay broker-dealers a maximum of 4% commission on Premiums paid in excess of the Target Premium for Policy Years 1-4 and 3% for Policy Years 5-7.

Total commissions paid in the fiscal years ended December 31, 2025, 2024, and 2023 were $45,630, $187,000, and $250,256, respectively. NYLIFE Distributors did not retain any of these commissions.

Service entities, which may be affiliates of broker-dealers, may also receive additional compensation based on a percentage of a Policy's Cash Value, less any Policy loans. The percentages are not expected to exceed 0.10% in all Policy Years.

NYLIC also has other compensation programs where registered representatives, managers, and employees involved in the sales process receive additional compensation related to the sale of products manufactured and issued by NYLIC or its affiliates. NYLIFE Securities registered representatives who are members of the General Office management team receive compensation based on a number of sales-related incentive programs designed to compensate for education, supervision, training, and recruiting of agents.

Unaffiliated broker-dealers may receive sales support for products manufactured and issued by NYLIC or its affiliates from Broker General Agents who are not employed by NYLIC. Broker General Agents receive commissions on the Policies based on a percentage of the commissions the registered representative receives and an allowance for expenses based on the first-year Premiums paid.

Ascensus Broker Dealer Services, LLC, 300 Primera Boulevard, Suite 200, Lake Mary, Florida 32746 is a broker-dealer that sells the life insurance products of NYLIC and its affiliates. In 2025, in addition to the commissions described above, the Ascensus Broker Dealer Services, LLC received override payments of $11,359 based on persistency and Premiums paid under the Policies it services.

Morgan Stanley Smith Barney, LLC, 2000 Westchester Avenue, Purchase, NY 10577 is a broker-dealer that sells the life insurance products of NYLIC and its affiliates. In 2025, in addition to the commissions described above, Morgan Stanley Smith Barney, LLC received override payments of $18,190 based on commissions and/or service fees paid and a percentage of cash value under the Policies it services.

NYLIFE Securities registered representatives can qualify to attend NYLIC-sponsored educational, training, and development conferences based on the sales they make of life insurance, annuities, and investment products during a particular twelve-month period. In addition, qualification for recognition programs sponsored by NYLIC depends on the sale of products manufactured and issued by NYLIC or its affiliates.

Although the Policies are no longer sold, Premium payments are accepted on a continuous basis.

**Financial Statements**

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The statutory financial statements of NYLIAC as of December 31, 2025 and 2024, and for each of the three years in the period ended December 31, 2025 incorporated in this SAI by reference to the report on Form N-VPFS dated April 7, 2026 have been incorporated in reliance on the report of PricewaterhouseCoopers LLP, an independent registered public accounting firm, given on the authority of said firm as experts in auditing and accounting. The financial statements of each of the investment divisions of the Separate Account as of December 31, 2025 and for each of the periods indicated in the Financial Statements incorporated in this SAI by reference to the report on Form N-VPFS dated April 7, 2026 have been so incorporated in reliance on the report of PricewaterhouseCoopers LLP, an independent registered public accounting firm, given on the authority of said firm as experts in auditing and accounting.

[<u>Audited Financial Statements of NYLIAC as of December 31,</u> <u>2025 and 2024</u><u>, and for each of the three years in the</u>](https://www.sec.gov/Archives/edgar/data/1018042/000119312526145210/d131645dnvpfs.htm)[<u>period ended December 31,</u> <u>2025</u> <u>– previously filed on Form N-VPFS for NYLIAC Corporate Sponsored Variable Universal</u>](https://www.sec.gov/Archives/edgar/data/1018042/000119312526145210/d131645dnvpfs.htm)[<u>Life Separate Account – I (File No.</u> <u>811-0769</u><u>7), filed on April</u> <u>7</u><u>,</u> <u>2026</u> <u>– are incorporated herein by reference.</u>](https://www.sec.gov/Archives/edgar/data/1018042/000119312526145210/d131645dnvpfs.htm)

[<u>Financial Statements of the Separate Account as of December 31,</u> <u>2025</u> <u>and for each of the periods as indicated in</u>](https://www.sec.gov/Archives/edgar/data/1018042/000119312526145210/d131645dnvpfs.htm)[<u>those Financial Statements — previously filed on Form N-VPFS for NYLIAC Corporate Sponsored Variable Universal Life</u>](https://www.sec.gov/Archives/edgar/data/1018042/000119312526145210/d131645dnvpfs.htm)[<u>Separate Account-I (File No.</u> <u>811-0769</u><u>7), filed on April</u> <u>7</u><u>,</u> <u>2026</u> <u>— are incorporated herein by reference.</u>](https://www.sec.gov/Archives/edgar/data/1018042/000119312526145210/d131645dnvpfs.htm)

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PART C. OTHER INFORMATION

ITEM 26. EXHIBITS

---

| | |
|:---|:---|
| (a) | Board of Directors Resolution. |
| (a)(1) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [<u>Resolution of the Board of Directors of New York Life Insurance and Annuity Company (NYLIAC)</u>](http://www.sec.gov/Archives/edgar/data/1018042/0000950136-96-000563.txt)<br> [<u>establishing the Separate Account — Previously filed as Exhibit (1) to Registrant's initial Registration</u>](http://www.sec.gov/Archives/edgar/data/1018042/0000950136-96-000563.txt)<br> [<u>Statement on Form S-6, re-filed in accordance with Regulation S-T, 17 CFR 232.102(e) as Exhibit (1) to</u>](http://www.sec.gov/Archives/edgar/data/1018042/0000950136-96-000563.txt)<br> [<u>Registrant's Post-Effective Amendment No. 4 on Form S-6 for NYLIAC Corporate Sponsored Variable</u>](http://www.sec.gov/Archives/edgar/data/1018042/0000950136-96-000563.txt)<br> [<u>Universal Life Separate Account — I (File No.</u> <u>333-0761</u><u>7), filed on 7/3/96 and incorporated herein by</u>](http://www.sec.gov/Archives/edgar/data/1018042/0000950136-96-000563.txt)<br> [<u>reference.</u>](http://www.sec.gov/Archives/edgar/data/1018042/0000950136-96-000563.txt)<br>|
| (b) | Custodian Agreements. Not applicable. |
| (c) | Underwriting Contracts. |
| (c)(1) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [<u>Distribution Agreement between NYLIFE Distributors Inc. and NYLIAC — Previously filed in accordance with</u>](http://www.sec.gov/Archives/edgar/data/1018042/0000950136-97-000002.txt)<br> [<u>Regulation S-T, 17 CFR 232.102(e) as Exhibit (3)(a) to Registrant's Pre-Effective Amendment No. 1</u>](http://www.sec.gov/Archives/edgar/data/1018042/0000950136-97-000002.txt)<br> [<u>on Form S-6 (File No.</u> <u>333-0761</u><u>7), filed 1/2/97 and incorporated herein by reference.</u>](http://www.sec.gov/Archives/edgar/data/1018042/0000950136-97-000002.txt)<br>|
| (c)(2) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [<u>Form of Sales Agreement, by and between NYLIFE Distributors Inc., as Underwriter, NYLIAC as Issuer, and</u>](http://www.sec.gov/Archives/edgar/data/1018042/0000950136-97-000002.txt)<br> [<u>Dealers - Previously filed in accordance with Regulation S-T, 17 CFR 232.102(e) as Exhibit (3)(b) to</u>](http://www.sec.gov/Archives/edgar/data/1018042/0000950136-97-000002.txt)<br> [<u>Registrant's Pre-Effective Amendment No. 1 on Form S-6 (File No.</u> <u>333-0761</u><u>7), filed 1/2/97 and</u>](http://www.sec.gov/Archives/edgar/data/1018042/0000950136-97-000002.txt)<br> [<u>incorporated herein by reference.</u>](http://www.sec.gov/Archives/edgar/data/1018042/0000950136-97-000002.txt)<br>|
| (c)(3) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [<u>Distribution and Underwriting Agreement, dated April 27, 2006, between New York Life Insurance and</u>](http://www.sec.gov/Archives/edgar/data/1018042/000095012306010606/y23652bexv99wcw3.txt)<br> [<u>Annuity Corporation and NYLIFE Distributors LLC — Previously filed in accordance with Regulation S-T, 17</u>](http://www.sec.gov/Archives/edgar/data/1018042/000095012306010606/y23652bexv99wcw3.txt)<br> [<u>CFR 232.102(e) as Exhibit (c)(3) to Post-Effective Amendment No. 16 to the registration statement on</u>](http://www.sec.gov/Archives/edgar/data/1018042/000095012306010606/y23652bexv99wcw3.txt)<br> [<u>Form N-6 for NYLIAC Corporate Sponsored Variable Universal Life Separate Account — I (File No.</u>](http://www.sec.gov/Archives/edgar/data/1018042/000095012306010606/y23652bexv99wcw3.txt)<br> [<u>333-4830</u><u>0), filed 8/15/06 and incorporated herein by reference.</u>](http://www.sec.gov/Archives/edgar/data/1018042/000095012306010606/y23652bexv99wcw3.txt)<br>|
| (c)(4) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [<u>Amendment to Distribution and Underwriting Agreement, dated March 6, 2015, between NYLIAC and</u>](http://www.sec.gov/Archives/edgar/data/906982/000119312515129506/d862905dex99c4.htm)<br> [<u>NYLIFE Distributors LLC - Previously filed in accordance with Regulation S-T, 17 CFR 232.102(e) as</u>](http://www.sec.gov/Archives/edgar/data/906982/000119312515129506/d862905dex99c4.htm)<br> [<u>Exhibit (c)(4) to Post-Effective Amendment No. 25 on Form N-6 for NYLIAC Variable Universal Life Separate</u>](http://www.sec.gov/Archives/edgar/data/906982/000119312515129506/d862905dex99c4.htm)<br> [<u>Account-I (File No.</u> <u>333-7930</u><u>9), filed 4/14/2015 and incorporated herein by reference.</u>](http://www.sec.gov/Archives/edgar/data/906982/000119312515129506/d862905dex99c4.htm)<br>|
| (d) | Contracts. |
| (d)(1) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [<u>Form of Policy for Corporate Executive Series Variable Universal Life Insurance Policies — Previously filed</u>](http://www.sec.gov/Archives/edgar/data/1018042/000095012300009574/y40836ex99-1_5.txt)<br> [<u>in accordance with Regulation S-T, 17 CFR 232.102 (e) as Exhibit (5) to Registrant's Initial registration</u>](http://www.sec.gov/Archives/edgar/data/1018042/000095012300009574/y40836ex99-1_5.txt)<br> [<u>statement on Form S-6 for NYLIAC Corporate Sponsored Variable Account - I (File No.</u> <u>333-4830</u><u>0), filed</u>](http://www.sec.gov/Archives/edgar/data/1018042/000095012300009574/y40836ex99-1_5.txt)<br> [<u>10/20/00 and incorporated herein by reference.</u>](http://www.sec.gov/Archives/edgar/data/1018042/000095012300009574/y40836ex99-1_5.txt)<br>|
| (d)(2) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [<u>Supplementary Term Rider for Corporate Executive Series Variable Universal Life Insurance Policies —</u>](http://www.sec.gov/Archives/edgar/data/1018042/000095012300009574/y40836ex99-1_5a.txt)<br> [<u>Previously filed in accordance with Regulation S-T, 17 CFR 232.102 (e) as Exhibit (5)(a) to Registrant's initial</u>](http://www.sec.gov/Archives/edgar/data/1018042/000095012300009574/y40836ex99-1_5a.txt)<br> [<u>registration statement on Form S-6 for NYLIAC Corporate Sponsored Variable Account - I</u>](http://www.sec.gov/Archives/edgar/data/1018042/000095012300009574/y40836ex99-1_5a.txt)<br> [<u>(File No.</u> <u>333-4830</u><u>0), filed 10/20/00 and incorporated herein by reference.</u>](http://www.sec.gov/Archives/edgar/data/1018042/000095012300009574/y40836ex99-1_5a.txt)<br>|
| (d)(3) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [<u>Level Term Rider for Corporate Executive Series Variable Universal Life Insurance Policies — Previously</u>](http://www.sec.gov/Archives/edgar/data/1018042/000095012300009574/y40836ex99-1_5b.txt)<br> [<u>filed in accordance with Regulation S-T, 17 CFR 232.102 (e) as Exhibit (5)(b) to Registrant's initial</u>](http://www.sec.gov/Archives/edgar/data/1018042/000095012300009574/y40836ex99-1_5b.txt)<br> [<u>registration statement on Form S-6 for NYLIAC Corporate Sponsored Variable Account - I</u>](http://www.sec.gov/Archives/edgar/data/1018042/000095012300009574/y40836ex99-1_5b.txt)<br> [<u>(File No.</u> <u>333-4830</u><u>0), filed 10/20/00 and incorporated herein by reference</u>](http://www.sec.gov/Archives/edgar/data/1018042/000095012300009574/y40836ex99-1_5b.txt)<br>|
| (d)(4) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [<u>Modification of Policy Provisions Endorsement — Previously filed in accordance with Regulation S-T, 17</u>](http://www.sec.gov/Archives/edgar/data/1018042/000095012301507962/y54073apex99-5_c.txt)<br> [<u>CFR 232.102 (e) as Exhibit (5)(c) to Registrant's Post-Effective Amendment No. 1 to the registration</u>](http://www.sec.gov/Archives/edgar/data/1018042/000095012301507962/y54073apex99-5_c.txt)<br> [<u>statement on Form S-6 for NYLIAC Corporate Sponsored Variable Account - I (File No.</u> <u>333-4830</u><u>0), filed</u>](http://www.sec.gov/Archives/edgar/data/1018042/000095012301507962/y54073apex99-5_c.txt)<br> [<u>11/7/01 and incorporated herein by reference.</u>](http://www.sec.gov/Archives/edgar/data/1018042/000095012301507962/y54073apex99-5_c.txt)<br>|
| (d)(5) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [<u>Alternative Cash Surrender Value Benefit Endorsement — Previously filed in accordance with</u>](http://www.sec.gov/Archives/edgar/data/1018042/000095012301507962/y54073apex99-5_d.txt)<br> [<u>Regulation S-T, 17 CFR 232.102 (e) as Exhibit (5)(d) to Registrant's Post-Effective Amendment No. 1 to the</u>](http://www.sec.gov/Archives/edgar/data/1018042/000095012301507962/y54073apex99-5_d.txt)<br> [<u>registration statement on Form S-6 for NYLIAC Corporate Sponsored Variable Account - I (File No.</u>](http://www.sec.gov/Archives/edgar/data/1018042/000095012301507962/y54073apex99-5_d.txt)<br> [<u>333-4830</u><u>0), filed 11/7/01 and incorporated herein by reference.</u>](http://www.sec.gov/Archives/edgar/data/1018042/000095012301507962/y54073apex99-5_d.txt)<br>|

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| | |
|:---|:---|
| (d)(6) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [<u>Alternative Cash Surrender Value Benefit Endorsement (8699-02) — Previously filed in accordance with</u>](http://www.sec.gov/Archives/edgar/data/1018042/000095012303001798/y83014apexv99wdw6.txt)<br> [<u>Regulation S-T, 17 CFR 232.102(e) as Exhibit (d)(6) to Post-Effective Amendment No. 5 to the registration</u>](http://www.sec.gov/Archives/edgar/data/1018042/000095012303001798/y83014apexv99wdw6.txt)<br> [<u>statement on Form N-6 for NYLIAC Corporate Sponsored Variable Universal Life Separate Account — I</u>](http://www.sec.gov/Archives/edgar/data/1018042/000095012303001798/y83014apexv99wdw6.txt)<br> [<u>(File No.</u> <u>333-4830</u><u>0), filed 2/20/03 and incorporated herein by reference</u>](http://www.sec.gov/Archives/edgar/data/1018042/000095012303001798/y83014apexv99wdw6.txt)<br>|
| (d)(7) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [<u>Modification of Policy Provisions Endorsement (8721-03) — Previously filed in accordance with</u>](http://www.sec.gov/Archives/edgar/data/1018042/000095012304004616/y91332exv99wdw7.txt)<br> [<u>Regulation S-T, 17 CFR 232. 102(e) as Exhibit (d)(7) to Post-Effective Amendment No. 9 to the registration</u>](http://www.sec.gov/Archives/edgar/data/1018042/000095012304004616/y91332exv99wdw7.txt)<br> [<u>statement on Form N-6 for NYLIAC Corporate Sponsored Variable Universal Life Separate Account-</u>](http://www.sec.gov/Archives/edgar/data/1018042/000095012304004616/y91332exv99wdw7.txt)<br> [<u>I (File No.</u> <u>333-4830</u><u>0), filed 4/14/04 and incorporated herein by reference.</u>](http://www.sec.gov/Archives/edgar/data/1018042/000095012304004616/y91332exv99wdw7.txt)<br>|
| (d)(8) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [<u>Modification of Policy Provisions Endorsement (8722-03) — Previously filed in accordance with</u>](http://www.sec.gov/Archives/edgar/data/1018042/000095012304004616/y91332exv99wdw8.txt)<br> [<u>Regulation S-T, 17 CFR 232. 102(e) as Exhibit (d)(8) to Post-Effective Amendment No. 9 to the registration</u>](http://www.sec.gov/Archives/edgar/data/1018042/000095012304004616/y91332exv99wdw8.txt)<br> [<u>statement on Form N-6 for NYLIAC Corporate Sponsored Variable Universal Life Separate Account-</u>](http://www.sec.gov/Archives/edgar/data/1018042/000095012304004616/y91332exv99wdw8.txt)<br> [<u>I (File No.</u> <u>333-4830</u><u>0), filed 4/14/04 and incorporated herein by reference.</u>](http://www.sec.gov/Archives/edgar/data/1018042/000095012304004616/y91332exv99wdw8.txt)<br>|
| (d)(9) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [<u>Alternative Cash Surrender Value Benefit Endorsement (8719-03) — Previously filed in accordance with</u>](http://www.sec.gov/Archives/edgar/data/1018042/000095012304004616/y91332exv99wdw9.txt)<br> [<u>Regulation S-T, 17 CFR 232. 102(e) as Exhibit (d)(9) to Post-Effective Amendment No. 9 to the registration</u>](http://www.sec.gov/Archives/edgar/data/1018042/000095012304004616/y91332exv99wdw9.txt)<br> [<u>statement on Form N-6 for NYLIAC Corporate Sponsored Variable Universal Life Separate Account-</u>](http://www.sec.gov/Archives/edgar/data/1018042/000095012304004616/y91332exv99wdw9.txt)<br> [<u>I (File No.</u> <u>333-4830</u><u>0), filed 4/14/04 and incorporated herein by reference.</u>](http://www.sec.gov/Archives/edgar/data/1018042/000095012304004616/y91332exv99wdw9.txt)<br>|
| (d)(10) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [<u>Alternative Cash Surrender Value Benefit Endorsement (8754-04) — Previously filed in accordance with</u>](http://www.sec.gov/Archives/edgar/data/1018042/000095012304007789/y98224exv99wdw10.txt)<br> [<u>Regulation S-T, 17 CFR 232.102(e) as Exhibit (d)(10) to Post-Effective Amendment No. 10 to the registration</u>](http://www.sec.gov/Archives/edgar/data/1018042/000095012304007789/y98224exv99wdw10.txt)<br> [<u>statement on Form N-6 for NYLIAC Corporate Sponsored Variable Universal Life Separate Account-</u>](http://www.sec.gov/Archives/edgar/data/1018042/000095012304007789/y98224exv99wdw10.txt)<br> [<u>1 (File No.</u> <u>333-4830</u><u>0), filed 6/25/04 and incorporated herein by reference.</u>](http://www.sec.gov/Archives/edgar/data/1018042/000095012304007789/y98224exv99wdw10.txt)<br>|
| (d)(11) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [<u>Alternative Cash Surrender Value Benefit Endorsement (8692-05) to Policy 300-43 — Previously filed in</u>](http://www.sec.gov/Archives/edgar/data/1018042/000095012306004840/y15980exv99wdw11.txt)<br> [<u>accordance with Regulation S-T, 17 CFR 232.102(e) as Exhibit (d)(11) to Post-Effective Amendment No. 14</u>](http://www.sec.gov/Archives/edgar/data/1018042/000095012306004840/y15980exv99wdw11.txt)<br> [<u>to the registration statement on Form N-6 for NYLIAC Corporate Sponsored Variable Universal Life Separate</u>](http://www.sec.gov/Archives/edgar/data/1018042/000095012306004840/y15980exv99wdw11.txt)<br> [<u>Account — I (File No.</u> <u>333-4830</u><u>0), filed 4/19/06 and incorporated herein by reference.</u>](http://www.sec.gov/Archives/edgar/data/1018042/000095012306004840/y15980exv99wdw11.txt)<br>|
| (d)(12) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [<u>Modification of Policy Provisions Endorsement (8784-05) to Policy 300-43 — Previously filed in accordance</u>](http://www.sec.gov/Archives/edgar/data/1018042/000095012306004840/y15980exv99wdw12.txt)<br> [<u>with Regulation S-T, 17 CFR 232.102(e) as Exhibit (d)(12) to Post-Effective Amendment No. 14 to the</u>](http://www.sec.gov/Archives/edgar/data/1018042/000095012306004840/y15980exv99wdw12.txt)<br> [<u>registration statement on Form N-6 for NYLIAC Corporate Sponsored Variable Universal Life Separate</u>](http://www.sec.gov/Archives/edgar/data/1018042/000095012306004840/y15980exv99wdw12.txt)<br> [<u>Account - I (File No.</u> <u>333-4830</u><u>0), filed 4/19/06 and incorporated herein by reference.</u>](http://www.sec.gov/Archives/edgar/data/1018042/000095012306004840/y15980exv99wdw12.txt)<br>|
| (d)(13) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [<u>Modification of Policy Provisions Endorsement (8793-05) to Policy 301-43 — Previously filed in accordance</u>](http://www.sec.gov/Archives/edgar/data/1018042/000095012306004840/y15980exv99wdw13.txt)<br> [<u>with Regulation S-T, 17 CFR 232.102(e) as Exhibit (d)(13) to Post-Effective Amendment No. 14 to the</u>](http://www.sec.gov/Archives/edgar/data/1018042/000095012306004840/y15980exv99wdw13.txt)<br> [<u>registration statement on Form N-6 for NYLIAC Corporate Sponsored Variable Universal Life Separate</u>](http://www.sec.gov/Archives/edgar/data/1018042/000095012306004840/y15980exv99wdw13.txt)<br> [<u>Account — I (File No.</u> <u>333-4830</u><u>0), filed 4/19/06 and incorporated herein by reference.</u>](http://www.sec.gov/Archives/edgar/data/1018042/000095012306004840/y15980exv99wdw13.txt)<br>|
| (d)(14) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [<u>Endorsements to CorpExec Variable Universal Life Policy Numbers 300-40 and 301-43 — Previously filed in</u>](http://www.sec.gov/Archives/edgar/data/1018042/000095012307005590/e28451exv99wdw14.txt)<br> [<u>accordance with Regulation S-T, 17 CFR 232.102(e) as Exhibit (d)(14) to Post-Effective Amendment No. 17</u>](http://www.sec.gov/Archives/edgar/data/1018042/000095012307005590/e28451exv99wdw14.txt)<br> [<u>to the registration statement on Form N-6 for NYLIAC Corporate Sponsored Variable Universal Life Separate</u>](http://www.sec.gov/Archives/edgar/data/1018042/000095012307005590/e28451exv99wdw14.txt)<br> [<u>Account — I (File No.</u> <u>333-4830</u><u>0), filed 4/18/07 and incorporated herein by reference</u>](http://www.sec.gov/Archives/edgar/data/1018042/000095012307005590/e28451exv99wdw14.txt)<br>|
| (e) | Applications. |
| (e)(1) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [<u>Form of Application for a policy for Corporate Executive Series Variable Universal Life Policies — Previously</u>](http://www.sec.gov/Archives/edgar/data/1018042/000119312519201205/d95974dex99e1.htm)<br> [<u>filed in accordance with Regulation S-T, 17 CFR 232.102 (e) as Exhibit (10) to Registrant's initial registration</u>](http://www.sec.gov/Archives/edgar/data/1018042/000119312519201205/d95974dex99e1.htm)<br> [<u>statement on Form S-6 for NYLIAC Corporate Sponsored Variable Account - I (File No.</u> <u>333-4830</u><u>0), filed</u>](http://www.sec.gov/Archives/edgar/data/1018042/000119312519201205/d95974dex99e1.htm)<br> [<u>10/20/00 and incorporated herein by reference.</u>](http://www.sec.gov/Archives/edgar/data/1018042/000119312519201205/d95974dex99e1.htm)<br>|
| (f) | Depositor's Certificate of Incorporation and By-Laws. |
| (f)(1) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [<u>Restated Certificate of Incorporation of NYLIAC — Previously filed in accordance with Regulation S-T, 17</u>](http://www.sec.gov/Archives/edgar/data/1018042/0000950136-96-000563.txt)<br> [<u>CFR 232.102(e) as Exhibit (6)(a) to Registrant's initial Registration Statement on Form S-6 (File No.</u>](http://www.sec.gov/Archives/edgar/data/1018042/0000950136-96-000563.txt)<br> [<u>333-0761</u><u>7), filed 7/3/96 and incorporated herein by reference.</u>](http://www.sec.gov/Archives/edgar/data/1018042/0000950136-96-000563.txt)<br>|
| (f)(1)(a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [<u>Amended and Restated Certificate of Incorporation of NYLIAC — Previously filed in accordance with</u>](http://www.sec.gov/Archives/edgar/data/726509/000119312513152755/d481981dex996a1.htm)<br> [<u>Regulation S-T, 17 CFR 232.102(e) as Exhibit (6)(a)(1) to Post-Effective Amendment No. 36 to the</u>](http://www.sec.gov/Archives/edgar/data/726509/000119312513152755/d481981dex996a1.htm)<br> [<u>registration statement on Form N-4 for the NYLIAC MFA Separate Account - I (File No. 2-86083), filed</u>](http://www.sec.gov/Archives/edgar/data/726509/000119312513152755/d481981dex996a1.htm)<br> [<u>4/12/13 and incorporated herein by reference.</u>](http://www.sec.gov/Archives/edgar/data/726509/000119312513152755/d481981dex996a1.htm)<br>|
| (f)(2) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [<u>By-Laws of NYLIAC — Previously filed in accordance with Regulation S-T, 17 CFR 232.102(e) as</u>](http://www.sec.gov/Archives/edgar/data/1018042/0000950136-96-000563.txt)<br> [<u>Exhibit (6)(b) to Registrant's initial registration statement on Form S-6 (File No.</u> <u>333-0761</u><u>7), filed 7/3/96 and</u>](http://www.sec.gov/Archives/edgar/data/1018042/0000950136-96-000563.txt)<br> [<u>incorporated herein by reference.</u>](http://www.sec.gov/Archives/edgar/data/1018042/0000950136-96-000563.txt)<br>|

---

------

---

| | |
|:---|:---|
| (f)(2)(a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [<u>Amendments to By-Laws of NYLIAC — Previously filed in accordance with Regulation S-T, 17 CFR</u>](http://www.sec.gov/Archives/edgar/data/906982/0000950123-98-003398.txt)<br> [<u>232.102(e) as Exhibit (6)(b)(2) to Pre-Effective Amendment No. 1 to the registration statement</u>](http://www.sec.gov/Archives/edgar/data/906982/0000950123-98-003398.txt)<br> [<u>on Form S-6 for NYLIAC Variable Universal Life Separate Account-I (File No.</u> <u>333-3915</u><u>7), filed 4/3/98 and</u>](http://www.sec.gov/Archives/edgar/data/906982/0000950123-98-003398.txt)<br> [<u>incorporated herein by reference.</u>](http://www.sec.gov/Archives/edgar/data/906982/0000950123-98-003398.txt)<br>|
| (f)(2)(b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [<u>Amended and Restated By-Laws of NYLIAC — Previously filed in accordance with Regulation S-T, 17 CFR</u>](http://www.sec.gov/Archives/edgar/data/726509/000119312513152755/d481981dex996b3.htm)<br> [<u>232.102(e) as Exhibit (6)(b)(3) to Post-Effective Amendment No. 36 to the registration statement on</u>](http://www.sec.gov/Archives/edgar/data/726509/000119312513152755/d481981dex996b3.htm)<br> [<u>Form N-4 for the NYLIAC MFA Separate Account - I (File No. 2-86083), filed 4/12/13 and incorporated herein</u>](http://www.sec.gov/Archives/edgar/data/726509/000119312513152755/d481981dex996b3.htm)<br> [<u>by reference.</u>](http://www.sec.gov/Archives/edgar/data/726509/000119312513152755/d481981dex996b3.htm)<br>|
| (g) | Reinsurance Contracts. |
| (g)(1) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [<u>Automatic Reinsurance Agreement between NYLIAC and Certain Reinsurers Relating to Certain NYLIAC</u>](http://www.sec.gov/Archives/edgar/data/1018042/000095012303004454/y83014exv99wgw1.txt)<br> [<u>Variable Universal Life Policies — Previously filed in accordance with Regulation S-T, 17 CFR 232.102(e) as</u>](http://www.sec.gov/Archives/edgar/data/1018042/000095012303004454/y83014exv99wgw1.txt)<br> [<u>Exhibit (g)(1) to Post-Effective Amendment No. 6 to the registration statement on Form N-6 for NYLIAC</u>](http://www.sec.gov/Archives/edgar/data/1018042/000095012303004454/y83014exv99wgw1.txt)<br> [<u>Corporate Sponsored Variable Universal Life Separate Account — I (File No.</u> <u>333-4830</u><u>0), filed 4/18/03 and</u>](http://www.sec.gov/Archives/edgar/data/1018042/000095012303004454/y83014exv99wgw1.txt)<br> [<u>incorporated herein by reference.</u>](http://www.sec.gov/Archives/edgar/data/1018042/000095012303004454/y83014exv99wgw1.txt)<br>|
| (h) | Participation Agreements. |
| (h)(1) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [<u>Stock Sale Agreement between NYLIAC and MainStay VP Series Fund, Inc. (formerly New York Life MFA</u>](http://www.sec.gov/Archives/edgar/data/1018042/0000950136-97-000002.txt)<br> [<u>Series Fund, Inc.) - Previously filed in accordance with Regulation S-T, 17 CFR 232.102(e) as Exhibit 1.(9)</u>](http://www.sec.gov/Archives/edgar/data/1018042/0000950136-97-000002.txt)<br> [<u>to Registrant's Pre-Effective Amendment No. 1 on Form S-6, refiled as Exhibit 1.(9)(a) to Pre-Effective</u>](http://www.sec.gov/Archives/edgar/data/1018042/0000950136-97-000002.txt)<br> [<u>Amendment No. 1 to the registration statement on Form S-6 for NYLIAC Corporate Sponsored Variable</u>](http://www.sec.gov/Archives/edgar/data/1018042/0000950136-97-000002.txt)<br> [<u>Universal Life Separate Account-I (File No.</u> <u>333-0761</u><u>7), filed 1/2/97 and incorporated herein by reference.</u>](http://www.sec.gov/Archives/edgar/data/1018042/0000950136-97-000002.txt)<br>|
| (h)(2) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [<u>Participation Agreement among The Alger American Fund, Fred Alger and Company, Incorporated and</u>](http://www.sec.gov/Archives/edgar/data/1018042/0000950136-97-000002.txt)<br> [<u>NYLIAC - Previously filed in accordance with Regulation S-T, 17 CFR 232.102(e) as Exhibit 1.(9)(b)(2) to</u>](http://www.sec.gov/Archives/edgar/data/1018042/0000950136-97-000002.txt)<br> [<u>Pre-Effective Amendment No. 1 to the registration statement on Form S-6 for NYLIAC Corporate Sponsored</u>](http://www.sec.gov/Archives/edgar/data/1018042/0000950136-97-000002.txt)<br> [<u>Variable Universal Life Separate Account-I (File No.</u> <u>333-0761</u><u>7), filed 1/2/97 and incorporated herein by</u>](http://www.sec.gov/Archives/edgar/data/1018042/0000950136-97-000002.txt)<br> [<u>reference.</u>](http://www.sec.gov/Archives/edgar/data/1018042/0000950136-97-000002.txt)<br>|
| (h)(3) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [<u>Participation Agreement between Janus Aspen Series and NYLIAC — Previously filed in accordance with</u>](http://www.sec.gov/Archives/edgar/data/1018042/0000950136-97-000002.txt)<br> [<u>Regulation S-T, 17 CFR 232.102(e) as Exhibit 1.(9)(b)(3) to Pre-Effective Amendment No. 1 to the</u>](http://www.sec.gov/Archives/edgar/data/1018042/0000950136-97-000002.txt)<br> [<u>registration statement on Form S-6 for NYLIAC Corporate Sponsored Variable Universal Life Separate</u>](http://www.sec.gov/Archives/edgar/data/1018042/0000950136-97-000002.txt)<br> [<u>Account-I (File No.</u> <u>333-0761</u><u>7), filed 1/2/97 and incorporated herein by reference.</u>](http://www.sec.gov/Archives/edgar/data/1018042/0000950136-97-000002.txt)<br>|
| (h)(4) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [<u>Participation Agreement among Morgan Stanley Universal Funds, Inc., Morgan Stanley Asset Management</u>](http://www.sec.gov/Archives/edgar/data/1018042/0000950136-97-000002.txt)<br> [<u>Inc. and NYLIAC - Previously filed in accordance with Regulation S-T, 17 CFR 232.102(e) as</u>](http://www.sec.gov/Archives/edgar/data/1018042/0000950136-97-000002.txt)<br> [<u>Exhibit 1.(9)(b)(4) to Pre-Effective Amendment No. 1 to the registration statement on Form S-6 for NYLIAC</u>](http://www.sec.gov/Archives/edgar/data/1018042/0000950136-97-000002.txt)<br> [<u>Corporate Sponsored Variable Universal Life Separate Account-I (File No.</u> <u>333-0761</u><u>7), filed 1/2/97 and</u>](http://www.sec.gov/Archives/edgar/data/1018042/0000950136-97-000002.txt)<br> [<u>incorporated herein by reference.</u>](http://www.sec.gov/Archives/edgar/data/1018042/0000950136-97-000002.txt)<br>|
| (h)(5) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [<u>Amended and Restated Participation Agreement among Variable Insurance Products Funds, Fidelity</u>](http://www.sec.gov/Archives/edgar/data/893167/000095012310034440/y82768exv99w8wf.txt)<br> [<u>Distributors Corporation and NYLIAC as amended, dated November 23, 2009 - Previously filed in</u>](http://www.sec.gov/Archives/edgar/data/893167/000095012310034440/y82768exv99w8wf.txt)<br> [<u>accordance with Regulation S-T, 17 CFR 232.102(e) as Exhibit (8)(f) to Post-Effective Amendment No. 24 to</u>](http://www.sec.gov/Archives/edgar/data/893167/000095012310034440/y82768exv99w8wf.txt)<br> [<u>the registration statement on Form N-4 for NYLIAC Variable Annuity Separate Account-I (File No. 33-53342),</u>](http://www.sec.gov/Archives/edgar/data/893167/000095012310034440/y82768exv99w8wf.txt)<br> [<u>filed 4/13/10 and incorporated herein by reference.</u>](http://www.sec.gov/Archives/edgar/data/893167/000095012310034440/y82768exv99w8wf.txt)<br>|
| (h)(6) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [<u>Form of Participation Agreement among T. Rowe Price Equity Series, Inc., T. Rowe Price Associates, Inc.</u>](http://www.sec.gov/Archives/edgar/data/893167/0000950123-98-003891.txt)<br> [<u>and NYLIAC — Previously filed in accordance with Regulation S-T, 17 CFR 232.102(e) as Exhibit (8)(h) to</u>](http://www.sec.gov/Archives/edgar/data/893167/0000950123-98-003891.txt)<br> [<u>Post-Effective Amendment No. 7 to the registration statement on Form N-4 for NYLIAC Variable Annuity</u>](http://www.sec.gov/Archives/edgar/data/893167/0000950123-98-003891.txt)<br> [<u>Separate Account-I (File No. 33-53342), filed 4/16/98 and incorporated herein by reference.</u>](http://www.sec.gov/Archives/edgar/data/893167/0000950123-98-003891.txt)<br>|
| (h)(7) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [<u>Participation Agreement, Amended and Restated, dated May 1, 2009, among MFS Variable Insurance</u>](http://www.sec.gov/Archives/edgar/data/1018042/000095012309063063/y80208exv99whw30.txt)<br> [<u>Trust, MFS Variable Insurance Trust II, New York Life Insurance and Annuity Corporation and MFS Fund</u>](http://www.sec.gov/Archives/edgar/data/1018042/000095012309063063/y80208exv99whw30.txt)<br> [<u>Distributors, Inc. - Previously filed in accordance with Regulation S-T, 17 CFR 232.102(e) as Exhibit (h)(30)</u>](http://www.sec.gov/Archives/edgar/data/1018042/000095012309063063/y80208exv99whw30.txt)<br> [<u>to Pre-Effective Amendment No. 1 to the registration statement on Form N-6 for NYLIAC Corporate</u>](http://www.sec.gov/Archives/edgar/data/1018042/000095012309063063/y80208exv99whw30.txt)<br> [<u>Sponsored Variable Universal Life Separate Account-1 (File No.</u> <u>333-1613</u><u>36), filed 11/16/09 and</u>](http://www.sec.gov/Archives/edgar/data/1018042/000095012309063063/y80208exv99whw30.txt)<br> [<u>incorporated herein by reference.</u>](http://www.sec.gov/Archives/edgar/data/1018042/000095012309063063/y80208exv99whw30.txt)<br>|
| (h)(8) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [<u>Form of Participation Agreement among Dreyfus Investment Portfolios. The Dreyfus Corporation, Dreyfus</u>](http://www.sec.gov/Archives/edgar/data/906982/000095012301503193/y46175a1ex99-9_r.txt)<br> [<u>Service Corporation and NYLIAC — Previously filed in accordance with Regulation S-T, 17 CFR 232.102 (e)</u>](http://www.sec.gov/Archives/edgar/data/906982/000095012301503193/y46175a1ex99-9_r.txt)<br> [<u>as Exhibit (9)(r) to Pre-Effective Amendment No. 1 to the registration statement on Form S-6 for NYLIAC</u>](http://www.sec.gov/Archives/edgar/data/906982/000095012301503193/y46175a1ex99-9_r.txt)<br> [<u>Variable Universal Life Separate Account-I (File No.</u> <u>333-5721</u> <u>0), filed 6/4/01 and incorporated herein by</u>](http://www.sec.gov/Archives/edgar/data/906982/000095012301503193/y46175a1ex99-9_r.txt)<br> [<u>reference.</u>](http://www.sec.gov/Archives/edgar/data/906982/000095012301503193/y46175a1ex99-9_r.txt)<br>|

---

------

---

| | |
|:---|:---|
| (h)(9) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [<u>Form of Substitution Agreement among NYLIAC, MainStay Management LLC, and New York Life Investment</u>](http://www.sec.gov/Archives/edgar/data/906982/000095012301503193/y46175a1ex99-9_s.txt)<br> [<u>Management LLC - Previously filed in accordance with Regulation S-T, 17 CFR 232.102 (e) as Exhibit (9)(s)</u>](http://www.sec.gov/Archives/edgar/data/906982/000095012301503193/y46175a1ex99-9_s.txt)<br> [<u>to Pre-Effective Amendment No. 1 to the registration statement on Form S-6 for NYLIAC Variable Universal</u>](http://www.sec.gov/Archives/edgar/data/906982/000095012301503193/y46175a1ex99-9_s.txt)<br> [<u>Life Separate Account-I (File No.</u> <u>333-5721</u><u>0), filed 6/4/01 and incorporated herein by reference.</u>](http://www.sec.gov/Archives/edgar/data/906982/000095012301503193/y46175a1ex99-9_s.txt)<br>|
| (h)(10) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [<u>Form of Participation Agreement among American Century Variable Portfolios, Inc., American Century</u>](http://www.sec.gov/Archives/edgar/data/1018042/000095012302003586/y56419bpex99-9_b12.txt)<br> [<u>Investment Management, Inc., American Century Investment Services, Inc., American Century Services</u>](http://www.sec.gov/Archives/edgar/data/1018042/000095012302003586/y56419bpex99-9_b12.txt)<br> [<u>Corporation, and NYLIAC — Previously filed in accordance with Regulation S-T, 19 CFR 232.102(e) as</u>](http://www.sec.gov/Archives/edgar/data/1018042/000095012302003586/y56419bpex99-9_b12.txt)<br> [<u>Exhibit (9)(b)(12) to Post-Effective Amendment No. 3 to the registration statement on Form S-6 for NYLIAC</u>](http://www.sec.gov/Archives/edgar/data/1018042/000095012302003586/y56419bpex99-9_b12.txt)<br> [<u>Corporate Sponsored Variable Universal Life Separate Account-I (File No.</u> <u>333-4830</u><u>0), filed 4/10/02 and</u>](http://www.sec.gov/Archives/edgar/data/1018042/000095012302003586/y56419bpex99-9_b12.txt)<br> [<u>incorporated herein by reference.</u>](http://www.sec.gov/Archives/edgar/data/1018042/000095012302003586/y56419bpex99-9_b12.txt)<br>|
| (h)(11) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [<u>Form of Participation Agreement by and among Deutsche Asset Management VIT Funds, Deutsche Asset</u>](http://www.sec.gov/Archives/edgar/data/1018042/000095012302012185/y64052exv99w9wbw13.txt)<br> [<u>Management, Inc. and NYLIAC — Previously filed in accordance with Regulation S-T, 17 CFR 232.102(e) as</u>](http://www.sec.gov/Archives/edgar/data/1018042/000095012302012185/y64052exv99w9wbw13.txt)<br> [<u>Exhibit (9)(b)(13) to Post-Effective Amendment No. 4 to the registration statement on Form S-6 for NYLIAC</u>](http://www.sec.gov/Archives/edgar/data/1018042/000095012302012185/y64052exv99w9wbw13.txt)<br> [<u>Corporate Sponsored Variable Universal Life Separate Account-1 (File No.</u> <u>333-4830</u><u>0), filed 12/23/02 and</u>](http://www.sec.gov/Archives/edgar/data/1018042/000095012302012185/y64052exv99w9wbw13.txt)<br> [<u>incorporated herein by reference.</u>](http://www.sec.gov/Archives/edgar/data/1018042/000095012302012185/y64052exv99w9wbw13.txt)<br>|
| (h)(12) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [<u>Form of Participation Agreement among Lord Abbett Series Fund, Inc.; Lord, Abbett & Co., Lord Abbett</u>](https://www.sec.gov/Archives/edgar/data/1018042/000095012302003586/y56419bpex99-9_b11.txt)<br> [<u>Distributor LLC, and NYLIAC — Previously filed in accordance with Regulation S-T, 17 CFR 232.102(e) as</u>](https://www.sec.gov/Archives/edgar/data/1018042/000095012302003586/y56419bpex99-9_b11.txt)<br> [<u>Exhibit (9)(b)(11) to Registrant's Post-Effective Amendment No. 3 to the registration statement on Form-N-6</u>](https://www.sec.gov/Archives/edgar/data/1018042/000095012302003586/y56419bpex99-9_b11.txt)<br> [<u>for NYLIAC Corporate Sponsored Variable Universal Life Separate Account - I (File No.</u> <u>333-4830</u><u>0), filed</u>](https://www.sec.gov/Archives/edgar/data/1018042/000095012302003586/y56419bpex99-9_b11.txt)<br> [<u>4/10/02 and incorporated herein by reference.</u>](https://www.sec.gov/Archives/edgar/data/1018042/000095012302003586/y56419bpex99-9_b11.txt)<br>|
| (h)(13) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [<u>Amendment dated 9/27/02 to Stock Sale Agreement dated 6/4/93 between NYLIAC and MainStay VP</u>](http://www.sec.gov/Archives/edgar/data/934298/000095012303004017/e8282301exv99w8wn.txt)<br> [<u>Series Fund, Inc. — Previously filed in accordance with Regulation S-T, 17 CFR 232.102 (e) as</u>](http://www.sec.gov/Archives/edgar/data/934298/000095012303004017/e8282301exv99w8wn.txt)<br> [<u>Exhibit (8)(n) to Post-Effective Amendment No. 18 to the registration statement on Form N-4 for NYLIAC</u>](http://www.sec.gov/Archives/edgar/data/934298/000095012303004017/e8282301exv99w8wn.txt)<br> [<u>Variable Annuity Separate Account — III (File No. 33-87382), filed 4/9/03 and incorporated herein by</u>](http://www.sec.gov/Archives/edgar/data/934298/000095012303004017/e8282301exv99w8wn.txt)<br> [<u>reference.</u>](http://www.sec.gov/Archives/edgar/data/934298/000095012303004017/e8282301exv99w8wn.txt)<br>|
| (h)(14) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [<u>Form of Participation Agreement among Van Eck Worldwide Insurance Trust, Van Eck Securities</u>](https://www.sec.gov/Archives/edgar/data/893167/0000950123-98-003891.txt)<br> [<u>Corporation, Van Eck Associates Corporation and NYLIAC — Previously filed in accordance with Regulation</u>](https://www.sec.gov/Archives/edgar/data/893167/0000950123-98-003891.txt)<br> [<u>S-T, 17 CFR 232.102(e) as Exhibit (8)(i) to Post-Effective Amendment No. 7 to the registration statement on</u>](https://www.sec.gov/Archives/edgar/data/893167/0000950123-98-003891.txt)<br> [<u>Form N-4 for NYLIAC Variable Annuity Separate Account — I (File No. 33-53342), filed 4/16/98 and</u>](https://www.sec.gov/Archives/edgar/data/893167/0000950123-98-003891.txt)<br> [<u>incorporated herein by reference.</u>](https://www.sec.gov/Archives/edgar/data/893167/0000950123-98-003891.txt)<br>|
| (h)(15) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [<u>Form of Participation Agreement among NYLIAC, PIMCO Variable Insurance Trust and PIMCO Advisors</u>](http://www.sec.gov/Archives/edgar/data/1018042/000095012304004616/y91332exv99whw17.txt)<br> [<u>Distributors LLC - Previously filed in accordance with Regulation S-T, 17 CFR 232.102(e) as Exhibit (h)(17)</u>](http://www.sec.gov/Archives/edgar/data/1018042/000095012304004616/y91332exv99whw17.txt)<br> [<u>to Post-Effective Amendment No. 9 to the registration statement on Form N-6 for NYLIAC Corporate</u>](http://www.sec.gov/Archives/edgar/data/1018042/000095012304004616/y91332exv99whw17.txt)<br> [<u>Sponsored Variable Universal Life Separate Account-I (File No.</u> <u>333-4830</u><u>0), filed 4/14/04 and incorporated</u>](http://www.sec.gov/Archives/edgar/data/1018042/000095012304004616/y91332exv99whw17.txt)<br> [<u>herein by reference.</u>](http://www.sec.gov/Archives/edgar/data/1018042/000095012304004616/y91332exv99whw17.txt)<br>|
| (h)(16) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [<u>Form of Participation Agreement among Lazard Retirement Series, Inc., Lazard Asset Management LLC,</u>](https://www.sec.gov/Archives/edgar/data/1018042/000095012304007789/y98224exv99whw18.txt)<br> [<u>Lazard Asset Management Securities LLC and NYLIAC — Previously filed in accordance with Regulation</u>](https://www.sec.gov/Archives/edgar/data/1018042/000095012304007789/y98224exv99whw18.txt)<br> [<u>S-T, 17 CFR 232.102(e) as Exhibit (h)(18) to Post-Effective Amendment No. 10 to the registration statement</u>](https://www.sec.gov/Archives/edgar/data/1018042/000095012304007789/y98224exv99whw18.txt)<br> [<u>on Form N-6 for NYLIAC Corporate Sponsored Variable Universal Life Separate Account-I (File No.</u>](https://www.sec.gov/Archives/edgar/data/1018042/000095012304007789/y98224exv99whw18.txt)<br> [<u>333-4830</u><u>0), filed 6/25/04 and incorporated herein by reference.</u>](https://www.sec.gov/Archives/edgar/data/1018042/000095012304007789/y98224exv99whw18.txt)<br>|
| (h)(17) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [<u>Participation Agreement dated 6/15/05 among Davis Variable Account Fund, Inc., Davis Distributors, LLC,</u>](https://www.sec.gov/Archives/edgar/data/1018042/000095012305008906/e04563exv99whw20.txt)<br> [<u>Davis Select Advisers, L.P., and NYLIAC — Previously filed in accordance with Regulation S-T, 17 CFR</u>](https://www.sec.gov/Archives/edgar/data/1018042/000095012305008906/e04563exv99whw20.txt)<br> [<u>232.102(e) as Exhibit (h)(20) to Post-Effective Amendment No. 12 to the registration statement on Form N-6</u>](https://www.sec.gov/Archives/edgar/data/1018042/000095012305008906/e04563exv99whw20.txt)<br> [<u>for NYLIAC Corporate Sponsored Variable Universal Life Separate Account — I (File No.</u> <u>333-4830</u><u>0), filed</u>](https://www.sec.gov/Archives/edgar/data/1018042/000095012305008906/e04563exv99whw20.txt)<br> [<u>7/26/05 and incorporated herein by reference.</u>](https://www.sec.gov/Archives/edgar/data/1018042/000095012305008906/e04563exv99whw20.txt)<br>|
| (h)(18) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [<u>Form of Participation Agreement by and among AIM Variable Insurance Funds, AIM Distributors, Inc. and</u>](http://www.sec.gov/Archives/edgar/data/1018042/000095012305011135/y12301exv99whw22.txt)<br> [<u>NYLIAC — Previously filed in accordance with Regulation S-T, 17 CFR 232.102(e) as Exhibit (h)(22) to</u>](http://www.sec.gov/Archives/edgar/data/1018042/000095012305011135/y12301exv99whw22.txt)<br> [<u>Post-Effective Amendment No. 13 to the registration statement on Form N-6 for NYLIAC Corporate</u>](http://www.sec.gov/Archives/edgar/data/1018042/000095012305011135/y12301exv99whw22.txt)<br> [<u>Sponsored Variable Universal Life Separate Account - I (File No.</u> <u>333-4830</u><u>0), filed 9/15/05 and incorporated</u>](http://www.sec.gov/Archives/edgar/data/1018042/000095012305011135/y12301exv99whw22.txt)<br> [<u>herein by reference.</u>](http://www.sec.gov/Archives/edgar/data/1018042/000095012305011135/y12301exv99whw22.txt)<br>|
| (h)(19) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [<u>Participation Agreement among New York Life Insurance and Annuity Corporation, MainStay VP Series</u>](http://www.sec.gov/Archives/edgar/data/893167/000095012306004443/y15985exv99w8wy.txt)<br> [<u>Fund, Inc., and New York Life Investment Management LLC dated 10/7/04 — Previously filed in accordance</u>](http://www.sec.gov/Archives/edgar/data/893167/000095012306004443/y15985exv99w8wy.txt)<br> [<u>with Regulation S-T, 17 CFR 232.102 (e) as Exhibit (8)(y) to Post-Effective Amendment No. 20 to the</u>](http://www.sec.gov/Archives/edgar/data/893167/000095012306004443/y15985exv99w8wy.txt)<br> [<u>registration statement on Form N-4 for NYLIAC Variable Annuity Separate Account I (File No. 33-53342),</u>](http://www.sec.gov/Archives/edgar/data/893167/000095012306004443/y15985exv99w8wy.txt)<br> [<u>filed 4/10/06 and incorporated herein by reference.</u>](http://www.sec.gov/Archives/edgar/data/893167/000095012306004443/y15985exv99w8wy.txt)<br>|

---

------

---

| | |
|:---|:---|
| (h)(20) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [<u>Form of Participation Agreement, dated August 14, 2006, among New York Life Insurance and Annuity</u>](http://www.sec.gov/Archives/edgar/data/1018042/000095012306010606/y23652bexv99whw24.txt)<br> [<u>Corporation, American Funds Insurance Series and Capital Research and Management Company —</u>](http://www.sec.gov/Archives/edgar/data/1018042/000095012306010606/y23652bexv99whw24.txt)<br> [<u>Previously filed in accordance with Regulation S-T, 17 CFR 232.102(e) as Exhibit (h)(24) to Post-Effective</u>](http://www.sec.gov/Archives/edgar/data/1018042/000095012306010606/y23652bexv99whw24.txt)<br> [<u>Amendment No. 16 to the registration statement on Form N-6 for NYLIAC Corporate Sponsored Variable</u>](http://www.sec.gov/Archives/edgar/data/1018042/000095012306010606/y23652bexv99whw24.txt)<br> [<u>Universal Life Separate Account — I (File No.</u> <u>333-4830</u><u>0), filed 8/15/06 and incorporated herein by</u>](http://www.sec.gov/Archives/edgar/data/1018042/000095012306010606/y23652bexv99whw24.txt)<br> [<u>reference.</u>](http://www.sec.gov/Archives/edgar/data/1018042/000095012306010606/y23652bexv99whw24.txt)<br>|
| (h)(21) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [<u>Form of Participation Agreement, dated August 14, 2006, among New York Life Insurance and Annuity</u>](http://www.sec.gov/Archives/edgar/data/1018042/000095012306010606/y23652bexv99whw25.txt)<br> [<u>Corporation, Delaware VIP Trust, Delaware Management Company, and Delaware Distributors, L.P. —</u>](http://www.sec.gov/Archives/edgar/data/1018042/000095012306010606/y23652bexv99whw25.txt)<br> [<u>Previously filed in accordance with Regulation S-T, 17 CFR 232.102(e) as Exhibit (h)(25) to Post-Effective</u>](http://www.sec.gov/Archives/edgar/data/1018042/000095012306010606/y23652bexv99whw25.txt)<br> [<u>Amendment No. 16 to the registration statement on Form N-6 for NYLIAC Corporate Sponsored Variable</u>](http://www.sec.gov/Archives/edgar/data/1018042/000095012306010606/y23652bexv99whw25.txt)<br> [<u>Universal Life Separate Account-I (File No.</u> <u>333-4830</u><u>0), filed 8/15/06 and incorporated herein by reference.</u>](http://www.sec.gov/Archives/edgar/data/1018042/000095012306010606/y23652bexv99whw25.txt)<br>|
| (h)(22) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [<u>Form of Participation Agreement, dated May 1, 2007, among New York Life Insurance and Annuity</u>](http://www.sec.gov/Archives/edgar/data/1018042/000095012307005590/e28451exv99whw26.txt)<br> [<u>Corporation, AllianceBernstein L.P. and AllianceBernstein Investments, Inc. — Previously filed in accordance</u>](http://www.sec.gov/Archives/edgar/data/1018042/000095012307005590/e28451exv99whw26.txt)<br> [<u>with Regulation S-T, 17 CFR 232.102(e) as Exhibit (h)(26) to Post-Effective Amendment No. 17 to the</u>](http://www.sec.gov/Archives/edgar/data/1018042/000095012307005590/e28451exv99whw26.txt)<br> [<u>registration statement on Form N-6 for NYLIAC Corporate Sponsored Variable Universal Life Separate</u>](http://www.sec.gov/Archives/edgar/data/1018042/000095012307005590/e28451exv99whw26.txt)<br> [<u>Account - I (File No.</u> <u>333-4830</u><u>0), filed 4/18/07 and incorporated herein by reference.</u>](http://www.sec.gov/Archives/edgar/data/1018042/000095012307005590/e28451exv99whw26.txt)<br>|
| (h)(23) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [<u>Form of Participation Agreement, dated May 1, 2007, among New York Life Insurance and Annuity</u>](http://www.sec.gov/Archives/edgar/data/1018042/000095012307005590/e28451exv99whw27.txt)<br> [<u>Corporation, DWS Variable Series I, DWS Variable Series II, and DWS Investments VIT Funds, DWS</u>](http://www.sec.gov/Archives/edgar/data/1018042/000095012307005590/e28451exv99whw27.txt)<br> [<u>Scudder Distributors, Inc. and Deutsche Investment Management Americas Inc. — Previously filed in</u>](http://www.sec.gov/Archives/edgar/data/1018042/000095012307005590/e28451exv99whw27.txt)<br> [<u>accordance with Regulation S-T, 17 CFR 232.102(e) as Exhibit (h)(27) to Post-Effective Amendment No. 17</u>](http://www.sec.gov/Archives/edgar/data/1018042/000095012307005590/e28451exv99whw27.txt)<br> [<u>to the registration statement on Form N-6 for NYLIAC Corporate Sponsored Variable Universal Life Separate</u>](http://www.sec.gov/Archives/edgar/data/1018042/000095012307005590/e28451exv99whw27.txt)<br> [<u>Account — I (File No.</u> <u>333-4830</u><u>0), filed 4/18/07 and incorporated herein by reference.</u>](http://www.sec.gov/Archives/edgar/data/1018042/000095012307005590/e28451exv99whw27.txt)<br>|
| (h)(24) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [<u>Participation Agreement, dated May 1, 2007, among New York Life Insurance and Annuity Corporation,</u>](https://www.sec.gov/Archives/edgar/data/1018042/000095012307008309/y35257exv99whw29.txt)<br> [<u>OppenheimerFunds, Inc. and Oppenheimer Variable Account Funds — Previously filed in accordance with</u>](https://www.sec.gov/Archives/edgar/data/1018042/000095012307008309/y35257exv99whw29.txt)<br> [<u>Regulation S-T, 17 CFR 232.102(e) as Exhibit (h)(29) to Post-Effective Amendment No. 18 to the registration</u>](https://www.sec.gov/Archives/edgar/data/1018042/000095012307008309/y35257exv99whw29.txt)<br> [<u>statement on Form N-6 for NYLIAC Corporate Sponsored Variable Universal Life Separate Account — I (File</u>](https://www.sec.gov/Archives/edgar/data/1018042/000095012307008309/y35257exv99whw29.txt)<br> [<u>No.</u> <u>333-4830</u><u>0), filed 6/5/07 and incorporated herein by reference.</u>](https://www.sec.gov/Archives/edgar/data/1018042/000095012307008309/y35257exv99whw29.txt)<br>|
| (h)(25) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [<u>Form of Participation Agreement, dated June 5, 2007, among New York Life Insurance and Annuity</u>](http://www.sec.gov/Archives/edgar/data/1018042/000095012307008309/y35257exv99whw28.txt)<br> [<u>Corporation, Lincoln Variable Insurance Products Trust, Lincoln Financial Distributors, Inc. and Lincoln</u>](http://www.sec.gov/Archives/edgar/data/1018042/000095012307008309/y35257exv99whw28.txt)<br> [<u>Investment Advisors Corporation — Previously filed in accordance with Regulation S-T, 17 CFR 232.102(e)</u>](http://www.sec.gov/Archives/edgar/data/1018042/000095012307008309/y35257exv99whw28.txt)<br> [<u>as Exhibit (h)(28) to Post-Effective Amendment No. 18 to the registration statement on Form N-6 for</u>](http://www.sec.gov/Archives/edgar/data/1018042/000095012307008309/y35257exv99whw28.txt)<br> [<u>NYLIAC Corporate Sponsored Variable Universal Life Separate Account — I (File No.</u> <u>333-4830</u><u>0), filed</u>](http://www.sec.gov/Archives/edgar/data/1018042/000095012307008309/y35257exv99whw28.txt)<br> [<u>6/5/07 and incorporated herein by reference.</u>](http://www.sec.gov/Archives/edgar/data/1018042/000095012307008309/y35257exv99whw28.txt)<br>|
| (h)(26) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [<u>Fund Participation Agreement, dated October 28, 2011, between Northern Lights Variable Trust, Northern</u>](https://www.sec.gov/Archives/edgar/data/1018042/000095012311102135/y93417exv99whw29.htm)<br> [<u>Lights Distributors, LLC, ValMark Advisers, Inc. and New York Life Insurance and Annuity</u>](https://www.sec.gov/Archives/edgar/data/1018042/000095012311102135/y93417exv99whw29.htm)<br> [<u>Corporation —Previously filed in accordance with Regulation S-T 17 CFR 232.102(e) as Exhibit (h)(29) to</u>](https://www.sec.gov/Archives/edgar/data/1018042/000095012311102135/y93417exv99whw29.htm)<br> [<u>Post-Effective Amendment No. 27 to the registration statement on Form N-6 for NYLIAC Corporate</u>](https://www.sec.gov/Archives/edgar/data/1018042/000095012311102135/y93417exv99whw29.htm)<br> [<u>Sponsored Variable Universal Life Separate Account – I (File No.</u> <u>333-4830</u><u>0), filed 12/6/11 and incorporated</u>](https://www.sec.gov/Archives/edgar/data/1018042/000095012311102135/y93417exv99whw29.htm)<br> [<u>herein by reference.</u>](https://www.sec.gov/Archives/edgar/data/1018042/000095012311102135/y93417exv99whw29.htm)<br>|
| (h)(27) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [<u>Fund Participation Agreement, among New York Life Insurance and Annuity Corporation, Voya Investments</u>](http://www.sec.gov/Archives/edgar/data/1018042/000119312518115607/d517425dex99h30.htm)<br> [<u>Distributor, LLC, Voya Investments, LLC, Voya Variable Portfolios, Inc. and Voya Variable Products Trust —</u>](http://www.sec.gov/Archives/edgar/data/1018042/000119312518115607/d517425dex99h30.htm)<br> [<u>Previously filed in accordance with Regulation S-T 17 CFR 232.102(e) as Exhibit (h)(30) to Post-Effective</u>](http://www.sec.gov/Archives/edgar/data/1018042/000119312518115607/d517425dex99h30.htm)<br> [<u>Amendment No. 38 to the registration statement on Form N-6 for NYLIAC Corporate Sponsored Variable</u>](http://www.sec.gov/Archives/edgar/data/1018042/000119312518115607/d517425dex99h30.htm)<br> [<u>Universal Life Separate Account — I (File No.</u> <u>333-4830</u><u>0), filed 4/12/18 and incorporated herein by</u>](http://www.sec.gov/Archives/edgar/data/1018042/000119312518115607/d517425dex99h30.htm)<br> [<u>reference.</u>](http://www.sec.gov/Archives/edgar/data/1018042/000119312518115607/d517425dex99h30.htm)<br>|
| (h)(28) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [<u>Participation Agreement, dated March 21, 2012, among New York Life Insurance and Annuity Corporation;</u>](http://www.sec.gov/Archives/edgar/data/1018042/000119312513434983/d586964dex99h31.htm)<br> [<u>DFA Investment Dimensions Group Inc.; Dimensional Fund Advisors LP, and DFA Securities LLC —</u>](http://www.sec.gov/Archives/edgar/data/1018042/000119312513434983/d586964dex99h31.htm)<br> [<u>Previously filed in accordance with Regulation S-T 17 CFR 232.102(e) as Exhibit (h)(31) to Post-Effective</u>](http://www.sec.gov/Archives/edgar/data/1018042/000119312513434983/d586964dex99h31.htm)<br> [<u>Amendment No. 30 to the registration statement on Form N-6 for NYLIAC Corporate Sponsored Variable</u>](http://www.sec.gov/Archives/edgar/data/1018042/000119312513434983/d586964dex99h31.htm)<br> [<u>Universal Life Separate Account — I (File No. 333- 48300), filed 11/8/2013 and incorporated herein by</u>](http://www.sec.gov/Archives/edgar/data/1018042/000119312513434983/d586964dex99h31.htm)<br> [<u>reference.</u>](http://www.sec.gov/Archives/edgar/data/1018042/000119312513434983/d586964dex99h31.htm)<br>|

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| | |
|:---|:---|
| (h)(29) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [<u>Form of Fund Participation Agreement among Neuberger Berman Advisers Management Trust, Neuberger</u>](https://www.sec.gov/Archives/edgar/data/1018042/0000950136-97-000002.txt)<br> [<u>Berman Management Inc. and NYLIAC — Previously filed in accordance with Regulation S-T, 17 CFR</u>](https://www.sec.gov/Archives/edgar/data/1018042/0000950136-97-000002.txt)<br> [<u>232.102(e) as Exhibit (9)(q) to Pre-Effective Amendment No. 1 to the registration statement on Form S-6 for</u>](https://www.sec.gov/Archives/edgar/data/1018042/0000950136-97-000002.txt)<br> [<u>NYLIAC Variable Universal Life Separate Account — I (File No.</u> <u>333-5721</u><u>0), filed 6/4/01 and incorporated</u>](https://www.sec.gov/Archives/edgar/data/1018042/0000950136-97-000002.txt)<br> [<u>herein by reference.</u>](https://www.sec.gov/Archives/edgar/data/1018042/0000950136-97-000002.txt)<br>|
| (h)(30) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [<u>Form of Fund Participation Agreement, dated March 25, 2011, and effective as of May 1, 2011, between</u>](http://www.sec.gov/Archives/edgar/data/893167/000095012311035635/y88561exv99w8wbwb.txt)<br> [<u>BlackRock Variable Series Funds, Inc., BlackRock Investments, LLC, and NYLIAC — Previously filed in</u>](http://www.sec.gov/Archives/edgar/data/893167/000095012311035635/y88561exv99w8wbwb.txt)<br> [<u>accordance with Regulation S-T, 17 CFR 232.102(e) as Exhibit (8)(b)(b) to Post-Effective Amendment No. 25</u>](http://www.sec.gov/Archives/edgar/data/893167/000095012311035635/y88561exv99w8wbwb.txt)<br> [<u>to the registration statement on Form N-4 for NYLIAC Variable Annuity Separate Account — I (File</u>](http://www.sec.gov/Archives/edgar/data/893167/000095012311035635/y88561exv99w8wbwb.txt)<br> [<u>No.</u> <u>033-5334</u><u>2), filed 4/14/11 and incorporated herein by reference.</u>](http://www.sec.gov/Archives/edgar/data/893167/000095012311035635/y88561exv99w8wbwb.txt)<br>|
| (h)(31) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [<u>Form of Participation Agreement among Legg Mason Investor Services, LLC and New York Life Insurance</u>](http://www.sec.gov/Archives/edgar/data/893167/000119312517119906/d254951dex998jj.htm)<br> [<u>and Annuity Corporation - Previously filed in accordance with Regulation S-T, 17 CFR 232.102(e) as</u>](http://www.sec.gov/Archives/edgar/data/893167/000119312517119906/d254951dex998jj.htm)<br> [<u>Exhibit (8)(j)(j) to Post-Effective Amendment No.31 to the registration statement on Form N-4 for NYLIAC</u>](http://www.sec.gov/Archives/edgar/data/893167/000119312517119906/d254951dex998jj.htm)<br> [<u>Variable Annuity Separate Account — I (File No.</u> <u>033-5334</u><u>2), filed 4/11/17 and incorporated herein by</u>](http://www.sec.gov/Archives/edgar/data/893167/000119312517119906/d254951dex998jj.htm)<br> [<u>reference.</u>](http://www.sec.gov/Archives/edgar/data/893167/000119312517119906/d254951dex998jj.htm)<br>|
| (h)(32) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [<u>Participation Agreement among Thrivent Series Fund, Inc., Thrivent Financial for Lutherans and New York</u>](http://www.sec.gov/Archives/edgar/data/1018042/000119312518115607/d517425dex99h35.htm)<br> [<u>Life Insurance and Annuity Corporation - Previously filed in accordance with Regulation S-T, 17 CFR</u>](http://www.sec.gov/Archives/edgar/data/1018042/000119312518115607/d517425dex99h35.htm)<br> [<u>232.102(e) as Exhibit (h)(35) to Post-Effective Amendment No. 38 to the registration statement on Form N-6</u>](http://www.sec.gov/Archives/edgar/data/1018042/000119312518115607/d517425dex99h35.htm)<br> [<u>for NYLIAC Corporate Sponsored Variable Universal Life Separate Account — I (File No.</u> <u>333-4830</u><u>0), filed</u>](http://www.sec.gov/Archives/edgar/data/1018042/000119312518115607/d517425dex99h35.htm)<br> [<u>4/12/18 and incorporated herein by reference.</u>](http://www.sec.gov/Archives/edgar/data/1018042/000119312518115607/d517425dex99h35.htm)<br>|
| (h)(33) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [<u>Form of Participation Agreement among New York Life Insurance and Annuity Corporation, Schwab Annuity</u>](https://www.sec.gov/Archives/edgar/data/1018042/000119312521112789/d114071dex99h27.htm)<br> [<u>Portfolios and Charles Schwab & Co., Inc. – previously filed in accordance with Regulation S-T, 17 CFR 232.</u>](https://www.sec.gov/Archives/edgar/data/1018042/000119312521112789/d114071dex99h27.htm)<br> [<u>102(e) as Exhibit (h)(27) to Post-Effective Amendment No. 7 to the registration statement on Form N-6 for</u>](https://www.sec.gov/Archives/edgar/data/1018042/000119312521112789/d114071dex99h27.htm)<br> [<u>NYLIAC Corporate Sponsored Variable Universal Life Separate Account – I (File No.</u> <u>333-2327</u><u>90), filed</u>](https://www.sec.gov/Archives/edgar/data/1018042/000119312521112789/d114071dex99h27.htm)<br> [<u>4/12/2021 and incorporated herein by reference.</u>](https://www.sec.gov/Archives/edgar/data/1018042/000119312521112789/d114071dex99h27.htm)<br>|
| (h)(34) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [<u>Participation Agreement among New York Life Insurance and Annuity Corporation, Principal Variable</u>](https://www.sec.gov/Archives/edgar/data/1018042/000119312524096035/d741000dex99h34.htm)<br> [<u>Contracts Fund, Inc., Principal Funds Distributor, Inc. and Principal Global Investors, LLC, dated 3/14/24 –</u>](https://www.sec.gov/Archives/edgar/data/1018042/000119312524096035/d741000dex99h34.htm)<br> [<u>Previously filed in accordance with Regulation S-T, 17 CFR 232.102(e) as Exhibit (h)(34) to Post-Effective</u>](https://www.sec.gov/Archives/edgar/data/1018042/000119312524096035/d741000dex99h34.htm)<br> [<u>Amendment No. 44 to the registration statement on Form N-6 for NYLIAC Corporate Sponsored Variable</u>](https://www.sec.gov/Archives/edgar/data/1018042/000119312524096035/d741000dex99h34.htm)<br> [<u>Universal Life Separate Account – I (File No.</u> <u>333-4830</u> <u>0), filed 4/15/24 and incorporated herein by reference.</u>](https://www.sec.gov/Archives/edgar/data/1018042/000119312524096035/d741000dex99h34.htm)<br>|
| (h)(35) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [<u>Participation Agreement among New York Life Insurance and Annuity Corporation, Putnam Variable Trust,</u>](https://www.sec.gov/Archives/edgar/data/1018042/000119312524096035/d741000dex99h35.htm)<br> [<u>and Putnam Retail Management Limited Partnership, dated 4/1/24 – Previously filed in accordance with</u>](https://www.sec.gov/Archives/edgar/data/1018042/000119312524096035/d741000dex99h35.htm)<br> [<u>Regulation S-T, 17 CFR 232.102(e) as Exhibit (h)(35) to Post-Effective Amendment No. 44 to the registration</u>](https://www.sec.gov/Archives/edgar/data/1018042/000119312524096035/d741000dex99h35.htm)<br> [<u>statement on Form N-6 for NYLIAC Corporate Sponsored Variable Universal Life Separate Account – I (File</u>](https://www.sec.gov/Archives/edgar/data/1018042/000119312524096035/d741000dex99h35.htm)<br> [<u>No.</u> <u>333-4830</u><u>0), filed 4/15/24 and incorporated herein by reference.</u>](https://www.sec.gov/Archives/edgar/data/1018042/000119312524096035/d741000dex99h35.htm)<br>|
| (h)(36) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [<u>Participation Agreement among New York Life Insurance and Annuity Corporation, Franklin Templeton</u>](d34860dex99h36.htm)<br> [<u>Variable Insurance Products Trust, and Franklin Distributors, LLC, dated 5/1/26 – Filed herewith.</u>](d34860dex99h36.htm)<br>|
| (h)(37) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [<u>Form of Participation Agreement among New York Life Insurance and Annuity Corporation, Goldman Sachs</u>](d34860dex99h37.htm)<br> [<u>Variable Insurance Trust, and Goldman Sachs & Co. LLC – Filed herewith.</u>](d34860dex99h37.htm)<br>|
| (i) | Administrative Contracts. |
| (i)(1) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [<u>Service Agreement between Fred Alger Management, Inc. and NYLIAC — Previously filed in accordance</u>](http://www.sec.gov/Archives/edgar/data/906982/000095012303000483/y64745exv99wiw1.txt)<br> [<u>with Regulation S-T, 17 CFR 232.102(e) as Exhibit (i)(1) to Post-Effective Amendment No. 6 to the</u>](http://www.sec.gov/Archives/edgar/data/906982/000095012303000483/y64745exv99wiw1.txt)<br> [<u>registration statement on Form N-6 for NYLIAC Variable Universal Life Separate Account — I (File</u>](http://www.sec.gov/Archives/edgar/data/906982/000095012303000483/y64745exv99wiw1.txt)<br> [<u>No.</u> <u>333-7930</u><u>9), filed 1/21/03 and incorporated herein by reference.</u>](http://www.sec.gov/Archives/edgar/data/906982/000095012303000483/y64745exv99wiw1.txt)<br>|
| (i)(2) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [<u>Administrative Services Agreement between Dreyfus Corporation and NYLIAC — Previously filed in</u>](https://www.sec.gov/Archives/edgar/data/906982/000095012303000483/y64745exv99wiw3.txt)<br> [<u>accordance with Regulation S-T, 17 CFR 232.102(e) as Exhibit (i)(3) to Post-Effective Amendment No. 6 to</u>](https://www.sec.gov/Archives/edgar/data/906982/000095012303000483/y64745exv99wiw3.txt)<br> [<u>the registration statement on Form N-6 for NYLIAC Variable Universal Life Separate Account — I (File No.</u>](https://www.sec.gov/Archives/edgar/data/906982/000095012303000483/y64745exv99wiw3.txt)<br> [<u>333-7930</u><u>9), filed 1/21/03 and incorporated herein by reference.</u>](https://www.sec.gov/Archives/edgar/data/906982/000095012303000483/y64745exv99wiw3.txt)<br>|
| (i)(3) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [<u>Administrative Services Agreement between Janus Capital Corporation and NYLIAC — Previously filed in</u>](http://www.sec.gov/Archives/edgar/data/906982/000095012303000483/y64745exv99wiw4.txt)<br> [<u>accordance with Regulation S-T, 17 CFR 232.102(e) as Exhibit (i)(4) to Post-Effective Amendment No. 6 to</u>](http://www.sec.gov/Archives/edgar/data/906982/000095012303000483/y64745exv99wiw4.txt)<br> [<u>the registration statement on Form N-6 for NYLIAC Variable Universal Life Separate Account — I (File</u>](http://www.sec.gov/Archives/edgar/data/906982/000095012303000483/y64745exv99wiw4.txt)<br> [<u>No.</u> <u>333-7930</u><u>9), filed 1/21/03 and incorporated herein by reference.</u>](http://www.sec.gov/Archives/edgar/data/906982/000095012303000483/y64745exv99wiw4.txt)<br>|

---

------

---

| | |
|:---|:---|
| (i)(4) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [<u>Services Agreement between New York Life Investment Management LLC and NYLIAC — Previously filed in</u>](http://www.sec.gov/Archives/edgar/data/906982/000095012303000483/y64745exv99wiw5.txt)<br> [<u>accordance with Regulation S-T, 17 CFR 232.102(e) as Exhibit (i)(5) to Post-Effective Amendment No. 6 to</u>](http://www.sec.gov/Archives/edgar/data/906982/000095012303000483/y64745exv99wiw5.txt)<br> [<u>the registration statement on Form N-6 for NYLIAC Variable Universal Life Separate Account - I (File</u>](http://www.sec.gov/Archives/edgar/data/906982/000095012303000483/y64745exv99wiw5.txt)<br> [<u>No.</u> <u>333-7930</u><u>9), filed 1/21/03 and incorporated herein by reference.</u>](http://www.sec.gov/Archives/edgar/data/906982/000095012303000483/y64745exv99wiw5.txt)<br>|
| (i)(5) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [<u>Administrative Services Agreement between T. Rowe Price Associates, Inc. and NYLIAC — Previously filed</u>](http://www.sec.gov/Archives/edgar/data/906982/000095012303000483/y64745exv99wiw6.txt)<br> [<u>in accordance with Regulation S-T, 17 CFR 232.102(e) as Exhibit (i)(6) to Post-Effective Amendment No. 6 to</u>](http://www.sec.gov/Archives/edgar/data/906982/000095012303000483/y64745exv99wiw6.txt)<br> [<u>the registration statement on Form N-6 for NYLIAC Variable Universal Life Separate Account — I (File</u>](http://www.sec.gov/Archives/edgar/data/906982/000095012303000483/y64745exv99wiw6.txt)<br> [<u>No.</u> <u>333-7930</u><u>9), filed 1/21/03 and incorporated herein by reference.</u>](http://www.sec.gov/Archives/edgar/data/906982/000095012303000483/y64745exv99wiw6.txt)<br>|
| (i)(6) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [<u>Service Agreement between Fidelity Investments Institutional Operations Company, Inc. and NYLIAC —</u>](http://www.sec.gov/Archives/edgar/data/906982/000095012303000483/y64745exv99wiw7.txt)<br> [<u>Previously filed in accordance with Regulation S-T, 17 CFR 232.102(e) as Exhibit (i)(7) to Post-Effective</u>](http://www.sec.gov/Archives/edgar/data/906982/000095012303000483/y64745exv99wiw7.txt)<br> [<u>Amendment No. 6 to the registration statement on Form N-6 for NYLIAC Variable Universal Life Separate</u>](http://www.sec.gov/Archives/edgar/data/906982/000095012303000483/y64745exv99wiw7.txt)<br> [<u>Account - I (File No.</u> <u>333-7930</u><u>9), filed 1/21/03 and incorporated herein by reference.</u>](http://www.sec.gov/Archives/edgar/data/906982/000095012303000483/y64745exv99wiw7.txt)<br>|
| (i)(7) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [<u>Service Agreement between American Century Investment Services, Inc. and NYLIAC — Previously filed in</u>](http://www.sec.gov/Archives/edgar/data/906982/000095012303001262/y66349exv99wiw7.txt)<br> [<u>accordance with Regulation S-T, 17 CFR 232.102(e) as Exhibit (i)(7) to Post-Effective Amendment No. 3 to</u>](http://www.sec.gov/Archives/edgar/data/906982/000095012303001262/y66349exv99wiw7.txt)<br> [<u>the registration statement on Form N-6 for NYLIAC Variable Universal Life Separate Account — I (File</u>](http://www.sec.gov/Archives/edgar/data/906982/000095012303001262/y66349exv99wiw7.txt)<br> [<u>No.</u> <u>333-5721</u><u>0), filed 2/12/03 and incorporated herein by reference.</u>](http://www.sec.gov/Archives/edgar/data/906982/000095012303001262/y66349exv99wiw7.txt)<br>|
| (i)(8) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [<u>Administrative Services Agreement between Massachusetts Financial Services Company and NYLIAC —</u>](http://www.sec.gov/Archives/edgar/data/906982/000095012303001262/y66349exv99wiw8.txt)<br> [<u>Previously filed in accordance with Regulation S-T, 17 CFR 232.102(e) as Exhibit (i)(8) to Post-Effective</u>](http://www.sec.gov/Archives/edgar/data/906982/000095012303001262/y66349exv99wiw8.txt)<br> [<u>Amendment No. 3 to the registration statement on Form N-6 for NYLIAC Variable Universal Life Separate</u>](http://www.sec.gov/Archives/edgar/data/906982/000095012303001262/y66349exv99wiw8.txt)<br> [<u>Account-I (File No.</u> <u>333-5721</u><u>0), filed 2/12/03 and incorporated herein by reference.</u>](http://www.sec.gov/Archives/edgar/data/906982/000095012303001262/y66349exv99wiw8.txt)<br>|
| (i)(9) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [<u>Service Agreement between Lord Abbett Series Fund, Inc. and NYLIAC — Previously filed in accordance</u>](https://www.sec.gov/Archives/edgar/data/1018042/000095012303001798/y83014apexv99wiw9.txt)<br> [<u>with Regulation S-T, 17 CFR 232.102(e) as Exhibit (i)(9) to Post-Effective Amendment No. 5 to the</u>](https://www.sec.gov/Archives/edgar/data/1018042/000095012303001798/y83014apexv99wiw9.txt)<br> [<u>registration statement on Form N-6 for NYLIAC Corporate Sponsored Variable Universal Life Separate</u>](https://www.sec.gov/Archives/edgar/data/1018042/000095012303001798/y83014apexv99wiw9.txt)<br> [<u>Account-I (File No.</u> <u>333-4830</u><u>0), filed 2/20/03 and incorporated herein by reference.</u>](https://www.sec.gov/Archives/edgar/data/1018042/000095012303001798/y83014apexv99wiw9.txt)<br>|
| (i)(10) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [<u>Service Agreement between Deutsche Asset Management, Inc. and NYLIAC — Previously filed in</u>](http://www.sec.gov/Archives/edgar/data/1018042/000095012303001798/y83014apexv99wiw10.txt)<br> [<u>accordance with Regulation S-T, 17 CFR 232.102(e) as Exhibit (i)(10) to Post-Effective Amendment No. 5 to</u>](http://www.sec.gov/Archives/edgar/data/1018042/000095012303001798/y83014apexv99wiw10.txt)<br> [<u>the registration statement on Form N-6 for NYLIAC Corporate Sponsored Variable Universal Life Separate</u>](http://www.sec.gov/Archives/edgar/data/1018042/000095012303001798/y83014apexv99wiw10.txt)<br> [<u>Account-I (File No.</u> <u>333-4830</u><u>0), filed 2/20/03 and incorporated herein by reference.</u>](http://www.sec.gov/Archives/edgar/data/1018042/000095012303001798/y83014apexv99wiw10.txt)<br>|
| (i)(11) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [<u>Distribution and Servicing Plan Agreement between Lazard Retirement Series, Inc. and</u>](https://www.sec.gov/Archives/edgar/data/1018042/000095012305004647/y04563exv99wiw12.txt)<br> [<u>NYLIAC —Previously filed in accordance with Regulation S-T, 17 CFR 232.102(e) as Exhibit (i)(12) to</u>](https://www.sec.gov/Archives/edgar/data/1018042/000095012305004647/y04563exv99wiw12.txt)<br> [<u>Post-Effective Amendment No. 11 to the registration statement on Form N-6 for NYLIAC Corporate</u>](https://www.sec.gov/Archives/edgar/data/1018042/000095012305004647/y04563exv99wiw12.txt)<br> [<u>Sponsored Variable Universal Life Separate Account — I (File No.</u> <u>333-4830</u><u>0), filed 4/18/05 and</u>](https://www.sec.gov/Archives/edgar/data/1018042/000095012305004647/y04563exv99wiw12.txt)<br> [<u>incorporated herein by reference.</u>](https://www.sec.gov/Archives/edgar/data/1018042/000095012305004647/y04563exv99wiw12.txt)<br>|
| (i)(12) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [<u>Services Agreement between PIMCO Variable Insurance Trust and NYLIAC — Previously filed in</u>](http://www.sec.gov/Archives/edgar/data/906982/000095012305004452/y04560exv99wiw13.txt)<br> [<u>accordance with Regulation S-T, 17 CFR 232.102(e) as Exhibit (i)(13) to Post-Effective Amendment No. 10</u>](http://www.sec.gov/Archives/edgar/data/906982/000095012305004452/y04560exv99wiw13.txt)<br> [<u>to the registration statement on Form N-6 for NYLIAC Variable Universal Life Separate Account-I (File</u>](http://www.sec.gov/Archives/edgar/data/906982/000095012305004452/y04560exv99wiw13.txt)<br> [<u>No.</u> <u>333-5721</u><u>0), filed 4/13/05 and incorporated herein by reference.</u>](http://www.sec.gov/Archives/edgar/data/906982/000095012305004452/y04560exv99wiw13.txt)<br>|
| (i)(13) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [<u>Services Agreement between Pacific Investment Management Company LLC and NYLIAC — Previously</u>](http://www.sec.gov/Archives/edgar/data/906982/000095012305004452/y04560exv99wiw14.txt)<br> [<u>filed in accordance with Regulation S-T, 17 CFR 232.102(e) as Exhibit (i)(14) to Post-Effective Amendment</u>](http://www.sec.gov/Archives/edgar/data/906982/000095012305004452/y04560exv99wiw14.txt)<br> [<u>No. 10 to the registration statement on Form N-6 for NYLIAC Variable Universal Life Separate Account-I</u>](http://www.sec.gov/Archives/edgar/data/906982/000095012305004452/y04560exv99wiw14.txt)<br> [<u>(File No.</u> <u>333-5721</u><u>0), filed 4/13/05 and incorporated herein by reference.</u>](http://www.sec.gov/Archives/edgar/data/906982/000095012305004452/y04560exv99wiw14.txt)<br>|
| (i)(14) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [<u>Service Agreement by and between Davis Distributors, LLC, and NYLIAC, dated August 1,</u>](https://www.sec.gov/Archives/edgar/data/1018042/000095012305011135/y12301exv99wiw17.txt)<br> [<u>2005 —Previously filed in accordance with Regulation S-T, 17 CFR 232.102(e) as Exhibit (i)(17) to</u>](https://www.sec.gov/Archives/edgar/data/1018042/000095012305011135/y12301exv99wiw17.txt)<br> [<u>Post-Effective Amendment No. 13 to the registration statement on Form N-6 for NYLIAC Corporate</u>](https://www.sec.gov/Archives/edgar/data/1018042/000095012305011135/y12301exv99wiw17.txt)<br> [<u>Sponsored Variable Universal Life Separate Account — I (File No.</u> <u>333-4830</u><u>0), filed 9/15/05 and</u>](https://www.sec.gov/Archives/edgar/data/1018042/000095012305011135/y12301exv99wiw17.txt)<br> [<u>incorporated herein by reference.</u>](https://www.sec.gov/Archives/edgar/data/1018042/000095012305011135/y12301exv99wiw17.txt)<br>|
| (i)(15) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [<u>Form of Service Agreement by and between AIM Advisors, Inc. and NYLIAC - Previously filed in accordance</u>](http://www.sec.gov/Archives/edgar/data/1018042/000095012305011135/y12301exv99wiw18.txt)<br> [<u>with Regulation S-T, 17 CFR 232.102(e) as Exhibit (i)(18) to Post-Effective Amendment No. 13 to the</u>](http://www.sec.gov/Archives/edgar/data/1018042/000095012305011135/y12301exv99wiw18.txt)<br> [<u>registration statement on Form N-6 for NYLIAC Corporate Sponsored Variable Universal Life Separate</u>](http://www.sec.gov/Archives/edgar/data/1018042/000095012305011135/y12301exv99wiw18.txt)<br> [<u>Account — I (File No.</u> <u>333-4830</u><u>0), filed 9/15/05 and incorporated herein by reference.</u>](http://www.sec.gov/Archives/edgar/data/1018042/000095012305011135/y12301exv99wiw18.txt)<br>|
| (i)(16) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [<u>Administrative Services Agreement between New York Life Investment Management LLC and NYLIAC dated</u>](http://www.sec.gov/Archives/edgar/data/893167/000095012306004443/y15985exv99w8ww.txt)<br> [<u>1/1/05 — Previously filed in accordance with Regulation S-T, 17 CFR 232.102(e) as Exhibit (8)(w) to</u>](http://www.sec.gov/Archives/edgar/data/893167/000095012306004443/y15985exv99w8ww.txt)<br> [<u>Post-Effective Amendment No. 20 to the registration statement on Form N-4 for NYLIAC Variable Annuity</u>](http://www.sec.gov/Archives/edgar/data/893167/000095012306004443/y15985exv99w8ww.txt)<br> [<u>Separate Account — I (File No. 33-53342), filed 4/10/06 and incorporated herein by reference.</u>](http://www.sec.gov/Archives/edgar/data/893167/000095012306004443/y15985exv99w8ww.txt)<br>|

---

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---

| | |
|:---|:---|
| (i)(17) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [<u>Administrative and Shareholder Services Letter of Agreement, dated January 16, 1998, between Van Eck</u>](https://www.sec.gov/Archives/edgar/data/906982/000095012305011036/y11473exv99wiw9.txt)<br> [<u>Worldwide Insurance Trust and NYLIAC — Previously filed in accordance with Regulation S-T, 17 CFR</u>](https://www.sec.gov/Archives/edgar/data/906982/000095012305011036/y11473exv99wiw9.txt)<br> [<u>232.102(e) as Exhibit (i)(9) to Registrant's Post-Effective Amendment No. 11 to the Registration Statement</u>](https://www.sec.gov/Archives/edgar/data/906982/000095012305011036/y11473exv99wiw9.txt)<br> [<u>on Form N-6 for NYLIAC Variable Universal Life Separate Account - I (File No.</u> <u>333-7930</u><u>9), filed 9/13/05 and</u>](https://www.sec.gov/Archives/edgar/data/906982/000095012305011036/y11473exv99wiw9.txt)<br> [<u>incorporated herein by reference.</u>](https://www.sec.gov/Archives/edgar/data/906982/000095012305011036/y11473exv99wiw9.txt)<br>|
| (i)(18) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [<u>Form of Business Agreement, dated August 14, 2006, among New York Life Insurance and Annuity</u>](http://www.sec.gov/Archives/edgar/data/1018042/000095012306010606/y23652bexv99wiw21.txt)<br> [<u>Corporation, American Funds Distributors, Inc., and Capital Research and Management Company —</u>](http://www.sec.gov/Archives/edgar/data/1018042/000095012306010606/y23652bexv99wiw21.txt)<br> [<u>Previously filed in accordance with Regulation S-T, 17 CFR 232.102(e) as Exhibit (i)(21) to Post-Effective</u>](http://www.sec.gov/Archives/edgar/data/1018042/000095012306010606/y23652bexv99wiw21.txt)<br> [<u>Amendment No. 16 to the registration statement on Form N-6 for NYLIAC Corporate Sponsored Variable</u>](http://www.sec.gov/Archives/edgar/data/1018042/000095012306010606/y23652bexv99wiw21.txt)<br> [<u>Universal Life Separate Account-I (File No.</u> <u>333-4830</u><u>0), filed 8/15/06 and incorporated herein by reference.</u>](http://www.sec.gov/Archives/edgar/data/1018042/000095012306010606/y23652bexv99wiw21.txt)<br>|
| (i)(19) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [<u>Form of Administrative Services Agreement, dated as of August 15, 2006, between Delaware Distributors</u>](http://www.sec.gov/Archives/edgar/data/1018042/000095012307005590/e28451exv99wiw22.txt)<br> [<u>L.P. and New York Life Insurance and Annuity Corporation, — Previously filed in accordance with Regulation</u>](http://www.sec.gov/Archives/edgar/data/1018042/000095012307005590/e28451exv99wiw22.txt)<br> [<u>S-T, 17 CFR 232.102(e) as Exhibit (i)(22) to Post-Effective Amendment No. 17 to the registration statement</u>](http://www.sec.gov/Archives/edgar/data/1018042/000095012307005590/e28451exv99wiw22.txt)<br> [<u>on Form N-6 for NYLIAC Corporate Sponsored Variable Universal Life Separate Account-I (File No.</u>](http://www.sec.gov/Archives/edgar/data/1018042/000095012307005590/e28451exv99wiw22.txt)<br> [<u>333-4830</u><u>0), filed 4/18/07 and incorporated herein by reference.</u>](http://www.sec.gov/Archives/edgar/data/1018042/000095012307005590/e28451exv99wiw22.txt)<br>|
| (i)(20) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [<u>Form of Master Administrative Services Agreement, dated May 1, 2007, among New York Life Insurance</u>](http://www.sec.gov/Archives/edgar/data/1018042/000095012307005590/e28451exv99wiw23.txt)<br> [<u>and Annuity Corporation, AllianceBernstein L.P. and AllianceBernstein Investments, Inc. — Previously filed in</u>](http://www.sec.gov/Archives/edgar/data/1018042/000095012307005590/e28451exv99wiw23.txt)<br> [<u>accordance with Regulation S-T, 17 CFR 232.102(e) as Exhibit (i)(23) to Post-Effective Amendment No. 17</u>](http://www.sec.gov/Archives/edgar/data/1018042/000095012307005590/e28451exv99wiw23.txt)<br> [<u>to the registration statement on Form N-6 for NYLIAC Corporate Sponsored Variable Universal Life</u>](http://www.sec.gov/Archives/edgar/data/1018042/000095012307005590/e28451exv99wiw23.txt)<br> [<u>Separate Account-I (File No.</u> <u>333-4830</u><u>0), filed 4/18/07 and incorporated herein by reference.</u>](http://www.sec.gov/Archives/edgar/data/1018042/000095012307005590/e28451exv99wiw23.txt)<br>|
| (i)(21) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [<u>Form of Administrative Services and Revenue Sharing Agreement, dated May 1, 2007, between New York</u>](https://www.sec.gov/Archives/edgar/data/1018042/000095012307008309/y35257exv99wiw24.txt)<br> [<u>Life Insurance and Annuity Corporation and OppenheimerFunds, Inc. — Previously filed in accordance with</u>](https://www.sec.gov/Archives/edgar/data/1018042/000095012307008309/y35257exv99wiw24.txt)<br> [<u>Regulation S-T, 17 CFR 232.102(e) as Exhibit (i)(24) to Post-Effective Amendment No. 18 to the registration</u>](https://www.sec.gov/Archives/edgar/data/1018042/000095012307008309/y35257exv99wiw24.txt)<br> [<u>statement on Form N-6 for NYLIAC Corporate Sponsored Variable Universal Life Separate Account — I (File</u>](https://www.sec.gov/Archives/edgar/data/1018042/000095012307008309/y35257exv99wiw24.txt)<br> [<u>No.</u> <u>333-4830</u><u>0), filed 6/5/07 and incorporated herein by reference.</u>](https://www.sec.gov/Archives/edgar/data/1018042/000095012307008309/y35257exv99wiw24.txt)<br>|
| (i)(22) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [<u>Administrative Services Agreement dated June 5, 2007 between Lincoln Investment Advisors Corporation</u>](http://www.sec.gov/Archives/edgar/data/1018042/000095012307016616/y43759exv99wiw25.txt)<br> [<u>and New York Life Insurance and Annuity Corporation — Previously filed in accordance with Regulation S-T,</u>](http://www.sec.gov/Archives/edgar/data/1018042/000095012307016616/y43759exv99wiw25.txt)<br> [<u>17 CFR 232.102(e) as Exhibit (i)(25) to Post-Effective Amendment No. 19 to the registration statement on</u>](http://www.sec.gov/Archives/edgar/data/1018042/000095012307016616/y43759exv99wiw25.txt)<br> [<u>Form N-6 for NYLIAC Corporate Sponsored Variable Universal Life Separate Account — I (File No.</u>](http://www.sec.gov/Archives/edgar/data/1018042/000095012307016616/y43759exv99wiw25.txt)<br> [<u>333-4830</u><u>0), filed 12/13/07 and incorporated herein by reference.</u>](http://www.sec.gov/Archives/edgar/data/1018042/000095012307016616/y43759exv99wiw25.txt)<br>|
| (i)(23) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [<u>Distribution Services Agreement, dated October 28, 2011, between Northern Lights Variable Trust, Northern</u>](https://www.sec.gov/Archives/edgar/data/1018042/000095012311102135/y93417exv99wiw26.htm)<br> [<u>Lights Distributors, LLC, ValMark Advisers, Inc. and New York Life Insurance and Annuity Corporation —</u>](https://www.sec.gov/Archives/edgar/data/1018042/000095012311102135/y93417exv99wiw26.htm)<br> [<u>Previously filed in accordance with Regulation S-T 17 CFR 232.102(e) as Exhibit (i)(26) to Post-Effective</u>](https://www.sec.gov/Archives/edgar/data/1018042/000095012311102135/y93417exv99wiw26.htm)<br> [<u>Amendment No. 27 to the registration statement on Form N-6 for NYLIAC Corporate Sponsored Variable</u>](https://www.sec.gov/Archives/edgar/data/1018042/000095012311102135/y93417exv99wiw26.htm)<br> [<u>Universal Life Separate Account – I (File No.</u> <u>333-4830</u> <u>0), filed 12/6/11 and incorporated herein by reference.</u>](https://www.sec.gov/Archives/edgar/data/1018042/000095012311102135/y93417exv99wiw26.htm)<br>|
| (i)(24) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [<u>Amended and Restated Administrative Services Agreement between New York Life Investment Management</u>](http://www.sec.gov/Archives/edgar/data/893167/000119312512159084/d281650dex998cc.htm)<br> [<u>LLC and NYLIAC, dated February 17, 2012 — Previously filed in accordance with Regulation S-T 17 CFR</u>](http://www.sec.gov/Archives/edgar/data/893167/000119312512159084/d281650dex998cc.htm)<br> [<u>232.102(e) as Exhibit (8)(c)(c) to Post-Effective Amendment No. 26 to the registration statement on</u>](http://www.sec.gov/Archives/edgar/data/893167/000119312512159084/d281650dex998cc.htm)<br> [<u>Form N-4 for NYLIAC Variable Annuity Separate Account — I (File No. 33-53342), filed 4/11/12 and</u>](http://www.sec.gov/Archives/edgar/data/893167/000119312512159084/d281650dex998cc.htm)<br> [<u>incorporated herein by reference.</u>](http://www.sec.gov/Archives/edgar/data/893167/000119312512159084/d281650dex998cc.htm)<br>|
| (i)(25) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [<u>Amended and Restated 12b-1 Plan Services Agreement for the Service Class Shares of the MainStay VP</u>](http://www.sec.gov/Archives/edgar/data/893167/000119312512159084/d281650dex998dd.htm)<br> [<u>Funds Trust between NYLIFE Distributors LLC and NYLIAC, dated April 29, 2011— Previously filed in</u>](http://www.sec.gov/Archives/edgar/data/893167/000119312512159084/d281650dex998dd.htm)<br> [<u>accordance with Regulation S-T 17 CFR 232.102(e) as Exhibit (8)(d)(d) to Post-Effective Amendment</u>](http://www.sec.gov/Archives/edgar/data/893167/000119312512159084/d281650dex998dd.htm)<br> [<u>No. 26 to the registration statement on Form N-4 for NYLIAC Variable Annuity Separate Account — I</u>](http://www.sec.gov/Archives/edgar/data/893167/000119312512159084/d281650dex998dd.htm)<br> [<u>(File No. 33-53342), filed 4/11/12 and incorporated herein by reference.</u>](http://www.sec.gov/Archives/edgar/data/893167/000119312512159084/d281650dex998dd.htm)<br>|
| (i)(26) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [<u>Form of Administrative Services Agreement, dated March 25, 2011, and effective as of May 1, 2011,</u>](http://www.sec.gov/Archives/edgar/data/893167/000095012311035635/y88561exv99w8wawa.txt)<br> [<u>between BlackRock Advisors, LLC and NYLIAC — Previously filed in accordance with Regulation S-T, 17</u>](http://www.sec.gov/Archives/edgar/data/893167/000095012311035635/y88561exv99w8wawa.txt)<br> [<u>CFR 232.102(e) as Exhibit (8)(a)(a) to Post-Effective Amendment No. 25 to the registration statement on</u>](http://www.sec.gov/Archives/edgar/data/893167/000095012311035635/y88561exv99w8wawa.txt)<br> [<u>Form N-4 for NYLIAC Variable Annuity Separate Account — I (File No.</u> <u>033-5334</u><u>2), filed 4/14/11 and</u>](http://www.sec.gov/Archives/edgar/data/893167/000095012311035635/y88561exv99w8wawa.txt)<br> [<u>incorporated herein by reference.</u>](http://www.sec.gov/Archives/edgar/data/893167/000095012311035635/y88561exv99w8wawa.txt)<br>|
| (i)(27) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [<u>Form of Distribution and Administrative Services Agreement, Class S Shares, between Neuberger Berman</u>](https://www.sec.gov/Archives/edgar/data/934298/000095012303005933/e85376exv99w8ww.txt)<br> [<u>Management, Inc. and NYLIAC — Previously filed in accordance with Regulation S-T, 17 CFR 232.102(e) as</u>](https://www.sec.gov/Archives/edgar/data/934298/000095012303005933/e85376exv99w8ww.txt)<br> [<u>Exhibit (8)(w) to Post-Effective Amendment No. 19 to the registration statement on Form N-4 for NYLIAC</u>](https://www.sec.gov/Archives/edgar/data/934298/000095012303005933/e85376exv99w8ww.txt)<br> [<u>Variable Annuity Separate Account — III (File No. 033- 87382), filed 5/14/03 and incorporated herein by</u>](https://www.sec.gov/Archives/edgar/data/934298/000095012303005933/e85376exv99w8ww.txt)<br> [<u>reference.</u>](https://www.sec.gov/Archives/edgar/data/934298/000095012303005933/e85376exv99w8ww.txt)<br>|

---

------

---

| | |
|:---|:---|
| (i)(28) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [<u>Form of Administrative Services Agreement among Legg Mason Investor Services, LLC and New York Life</u>](http://www.sec.gov/Archives/edgar/data/893167/000119312517119906/d254951dex998kk.htm)<br> [<u>Insurance and Annuity Corporation — Previously filed in accordance with Regulation S-T, 17 CFR</u>](http://www.sec.gov/Archives/edgar/data/893167/000119312517119906/d254951dex998kk.htm)<br> [<u>232.102(e) as Exhibit (8)(k)(k) to Post-Effective Amendment No.31 to the registration statement on Form N-4</u>](http://www.sec.gov/Archives/edgar/data/893167/000119312517119906/d254951dex998kk.htm)<br> [<u>for NYLIAC Variable Annuity Separate Account - I (File No.</u> <u>033-5334</u><u>2), filed 4/11/17 and incorporated</u>](http://www.sec.gov/Archives/edgar/data/893167/000119312517119906/d254951dex998kk.htm)<br> [<u>herein by reference.</u>](http://www.sec.gov/Archives/edgar/data/893167/000119312517119906/d254951dex998kk.htm)<br>|
| (i)(29) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [<u>Administrative Service Agreement between Morgan Stanley & Co. Incorporated and NYLIAC - Previously</u>](http://www.sec.gov/Archives/edgar/data/906982/000095012308004127/y41129a1exv99wiw15.txt)<br> [<u>filed in accordance with Regulation S-T, 17 CFR 232.102(e) as Exhibit (i)(15) to Pre-Effective Amendment</u>](http://www.sec.gov/Archives/edgar/data/906982/000095012308004127/y41129a1exv99wiw15.txt)<br> [<u>No. 1 to the registration statement on Form N-6 for NYLIAC Variable Universal Life Separate Account — I</u>](http://www.sec.gov/Archives/edgar/data/906982/000095012308004127/y41129a1exv99wiw15.txt)<br> [<u>(File No.</u> <u>333-1477</u><u>07), filed 4/14/08 and incorporated herein by reference.</u>](http://www.sec.gov/Archives/edgar/data/906982/000095012308004127/y41129a1exv99wiw15.txt)<br>|
| (i)(30) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [<u>Form of Amended and Restated Service Contract between Fidelity Distributors Corporation and NYLIFE</u>](https://www.sec.gov/Archives/edgar/data/1018042/000119312520105006/d841154dex99i30.htm)<br> [<u>Distributors dated 10/1/11 — Previously filed in accordance with Regulation S-T, 17 CFR 232.102(e) as</u>](https://www.sec.gov/Archives/edgar/data/1018042/000119312520105006/d841154dex99i30.htm)<br> [<u>Exhibit (i)(30) to Post-Effective Amendment No. 40 to the registration statement on Form N-6 for NYLIAC</u>](https://www.sec.gov/Archives/edgar/data/1018042/000119312520105006/d841154dex99i30.htm)<br> [<u>Corporate Sponsored Variable Universal Life Separate Account-I (File No.</u> <u>333-1477</u><u>07), filed 4/13/20 and</u>](https://www.sec.gov/Archives/edgar/data/1018042/000119312520105006/d841154dex99i30.htm)<br> [<u>incorporated herein by reference.</u>](https://www.sec.gov/Archives/edgar/data/1018042/000119312520105006/d841154dex99i30.htm)<br>|
| (i)(31) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [<u>Tri Party Agreement among Legg Mason Partners Variable Equity Trust, Legg Mason Partners Fund Advisor,</u>](https://www.sec.gov/Archives/edgar/data/934298/000119312521341942/d244072dex99i11.htm)<br> [<u>LLC, New York Life Insurance and Annuity Corporation, American Funds Insurance Series, American Funds</u>](https://www.sec.gov/Archives/edgar/data/934298/000119312521341942/d244072dex99i11.htm)<br> [<u>Distributor, Inc., and Capital Research and Management Company dated 4/13/2020—Previously filed in</u>](https://www.sec.gov/Archives/edgar/data/934298/000119312521341942/d244072dex99i11.htm)<br> [<u>accordance with Regulation S-T, 17 CFR 232.102(e) as Exhibit (i)(11) to Post-Effective Amendment No. 2 to</u>](https://www.sec.gov/Archives/edgar/data/934298/000119312521341942/d244072dex99i11.htm)<br> [<u>the registration statement on Form N-4 for NYLIAC Variable Annuity Separate Account III (File No.</u>](https://www.sec.gov/Archives/edgar/data/934298/000119312521341942/d244072dex99i11.htm)<br> [<u>333-2397</u><u>52), filed 11/29/21 and incorporated herein by reference.</u>](https://www.sec.gov/Archives/edgar/data/934298/000119312521341942/d244072dex99i11.htm)<br>|
| (i)(32) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [<u>Tri Party Agreement dated January 21, 2022, among Legg Mason Partners Variable Equity Trust, Legg</u>](https://www.sec.gov/Archives/edgar/data/906982/000119312522081695/d295816dex99i22.htm)<br> [<u>Mason Partners Fund Advisor, LLC, New York Life Insurance and Annuity Corporation, and Invesco</u>](https://www.sec.gov/Archives/edgar/data/906982/000119312522081695/d295816dex99i22.htm)<br> [<u>Advisers, Inc(with certain marked omissions that are not material and would cause competitive harm if</u>](https://www.sec.gov/Archives/edgar/data/906982/000119312522081695/d295816dex99i22.htm)<br> [<u>disclosed)— Previously filed in accordance with Regulation S-T, 17 CFR 232.102(e) as Exhibit (i)(22) to the</u>](https://www.sec.gov/Archives/edgar/data/906982/000119312522081695/d295816dex99i22.htm)<br> [<u>registration statement on Form N-6 for NYLIAC Variable Universal Life Separate Account-I, filed 3/22/22 and</u>](https://www.sec.gov/Archives/edgar/data/906982/000119312522081695/d295816dex99i22.htm)<br> [<u>incorporated herein by reference.</u>](https://www.sec.gov/Archives/edgar/data/906982/000119312522081695/d295816dex99i22.htm)<br>|
| (i)(33) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [<u>Marketing and Administrative Services Agreement between New York Life Insurance and Annuity</u>](https://www.sec.gov/Archives/edgar/data/1018042/000119312524096035/d741000dex99i33.htm)<br> [<u>Corporation and Putnam Retail Management Limited Partnership, dated 4/1/24 – Previously filed in</u>](https://www.sec.gov/Archives/edgar/data/1018042/000119312524096035/d741000dex99i33.htm)<br> [<u>accordance with Regulation S-T, 17 CFR 232.102(e) as Exhibit (i)(33) to Post-Effective Amendment No. 44</u>](https://www.sec.gov/Archives/edgar/data/1018042/000119312524096035/d741000dex99i33.htm)<br> [<u>to the registration statement on Form N-6 for NYLIAC Corporate Sponsored Variable Universal Life Separate</u>](https://www.sec.gov/Archives/edgar/data/1018042/000119312524096035/d741000dex99i33.htm)<br> [<u>Account – I (File No.</u> <u>333-4830</u><u>0), filed 4/15/24 and incorporated herein by reference.</u>](https://www.sec.gov/Archives/edgar/data/1018042/000119312524096035/d741000dex99i33.htm)<br>|
| (i)(34) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [<u>Services Agreement between New York Life Insurance and Annuity Corporation and Franklin Distributors,</u>](d34860dex99i34.htm)<br> [<u>LLC, dated 5/1/26 – Filed herewith.</u>](d34860dex99i34.htm)<br>|
| (i)(35) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [<u>Form of Administrative Services Agreement between New York Life Insurance and Annuity Corporation and</u>](d34860dex99i35.htm)<br> [<u>Goldman Sachs Asset Management, L.P. – Filed herewith.</u>](d34860dex99i35.htm)<br>|
| (j) | Other Material Contracts. |
| (j)(1) | Powers of Attorney – [<u>Filed herewith.</u>](d34860dex99j1.htm) |
| (k) | Legal Opinion. |
| (k)(1) | Opinion and Consent of Charles A. Whites, Jr., Esq. – [<u>Filed herewith.</u>](d34860dex99k1.htm) |
| (l) | Actuarial Opinion. Not applicable. |
| (m) | Calculation. Not applicable. |
| (n) | Other Opinions. |
| (n)(1) | Consent of PricewaterhouseCoopers LLP – [<u>Filed herewith.</u>](d34860dex99n1.htm) |
| (o) | Omitted Financials Statements. Not applicable. |
| (p) | Initial Capital Agreements. Not applicable. |
| (q) | Redeemability Exemption. |
| (q)(1) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [<u>Memorandum describing NYLIAC's issuance, transfer and redemption procedures for the Policies —</u>](https://www.sec.gov/Archives/edgar/data/1018042/0000950136-97-000497.txt)<br> [<u>Previously filed in accordance with Regulation S-T, 17 CFR 232.102(e) as Exhibit (9)(e) to Registrant's</u>](https://www.sec.gov/Archives/edgar/data/1018042/0000950136-97-000497.txt)<br> [<u>Pre-Effective Amendment No. 2 on Form S-6 (File No.</u> <u>333-0761</u><u>7), filed 4/25/97 and incorporated herein by</u>](https://www.sec.gov/Archives/edgar/data/1018042/0000950136-97-000497.txt)<br> [<u>reference.</u>](https://www.sec.gov/Archives/edgar/data/1018042/0000950136-97-000497.txt)<br>|

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| | |
|:---|:---|
| (q)(2) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [<u>Supplement to Memorandum describing NYLIAC's issuance, transfer and redemption procedures for the</u>](https://www.sec.gov/Archives/edgar/data/1018042/0000950123-98-004127.txt)<br> [<u>Policies — Previously filed in accordance with Regulation S-T, 17 CFR 232.102(e) as Exhibit 9(g) to</u>](https://www.sec.gov/Archives/edgar/data/1018042/0000950123-98-004127.txt)<br> [<u>Registrant's Post-Effective Amendment No. 1 on Form S-6 (File No.</u> <u>333-0761</u><u>7), filed 4/24/98 and</u>](https://www.sec.gov/Archives/edgar/data/1018042/0000950123-98-004127.txt)<br> [<u>incorporated herein by reference.</u>](https://www.sec.gov/Archives/edgar/data/1018042/0000950123-98-004127.txt)<br>|
| (q)(3) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [<u>Memorandum describing NYLIAC's issuance, transfer and redemption procedures for the Policy pursuant to</u>](https://www.sec.gov/Archives/edgar/data/1018042/000119312516541446/d120430dex99q.htm)<br> [<u>Rule 6e - 3(T)(b)(12)(iii) — Previously filed in accordance with Regulation S-T, 17 CFR 232.102(e) as</u>](https://www.sec.gov/Archives/edgar/data/1018042/000119312516541446/d120430dex99q.htm)<br> [<u>Exhibit (q) to Registrant's Post-Effective Amendment No. 10 on Form N-6 (File No.</u> <u>333-1613</u><u>36), filed</u>](https://www.sec.gov/Archives/edgar/data/1018042/000119312516541446/d120430dex99q.htm)<br> [<u>4/14/16 and incorporated herein by reference.</u>](https://www.sec.gov/Archives/edgar/data/1018042/000119312516541446/d120430dex99q.htm)<br>|

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ITEM 27. DIRECTORS AND OFFICERS OF THE DEPOSITOR

The principal business address of each director and officer of NYLIAC is 51 Madison Avenue, New York, NY 10010.

---

| | |
|:---|:---|
| **Name:** | **Title:** |
| DeSanto, Craig L. | Chairman, Chief Executive Officer & President |
| Anderson, Erik A. | Director, Senior Vice President & Chief Actuary |
| Feldstein, Eric M. | Director, Executive Vice President & Chief Financial Officer |
| Hendry, Thomas A. | Director, Senior Vice President & Treasurer |
| Kravitz, Jodi L. | Director & Senior Vice President |
| McDonnell, Michael K. | Director, Senior Vice President, General Counsel & Chief Legal Officer |
| Miller, Amy | Director, Senior Vice President, Deputy General Counsel & Assistant Secretary |
| Chen, Angela | Senior Vice President & Controller |
| Ball, Aaron | Executive Vice President |
| Karaoglan, Alain M. | Executive Vice President |
| Madgett, Mark J. | Executive Vice President |
| Soni, Deepa | Executive Vice President & Chief Information Officer |
| Abramo, Stephen | Senior Vice President |
| Albarella, Joel I. | Senior Vice President |
| Arita, Darin C. | Senior Vice President |
| Berlin, Scott L. | Senior Vice President |
| Bopp, Kevin M. | Senior Vice President |
| Brill, Elizabeth K. | Senior Vice President & Actuary |
| Budhwani, Reshma | Senior Vice President |
| Casanova, Ramon | Senior Vice President |
| Colleary, Maura R. | Senior Vice President |
| Colon, Wilfred R. | Senior Vice President |
| Cooney, Colleen C. | Senior Vice President |
| Cronin, Maureen A. | &nbsp;&nbsp; Senior Vice President, Deputy General Counsel, Chief Investment Counsel & Assistant <br> Secretary<br>|
| Cruz, David | Senior Vice President |
| Drinkard, Kenneth R. | Senior Vice President & General Auditor |
| Formon, William | Senior Vice President |
| Frederick, Robert R. | Senior Vice President |
| Gennaro, Paul J. | Senior Vice President |
| Glynn, Kevin M. | Senior Vice President |
| Gupta, Tina | Senior Vice President |
| Herwig, Julie E. | Senior Vice President |
| Hu, Amy | Senior Vice President |
| Huang, Dylan W. | Senior Vice President |
| James, Cheryl | Senior Vice President & Deputy General Counsel |
| Khalil, Saad A. | Senior Vice President |
| Kuhl Sarrubbo, Amanda L. | Senior Vice President |
| Lenz, Scott L. | Senior Vice President, Deputy General Counsel & Chief Tax Counsel |
| Leonard, Jason P. | Senior Vice President |
| McClain, Keith B. | Senior Vice President |
| Mian, Farhad A. | Senior Vice President |
| Micucci, Alison H. | Senior Vice President |
| Navarro, Kathleen | Senior Vice President |
| Nesle, Heather M. | Senior Vice President |
| Nguyen, Mychael A. | Senior Vice President |
| O'Hanlon, Thomas P. | Senior Vice President |
| Patel, Hiran | Senior Vice President |
| Putnam, Roger L. | Senior Vice President |

---

------

---

| | |
|:---|:---|
| **Name:** | **Title:** |
| Rocchi, Gerard A. | Senior Vice President |
| Rodgers, Joanne H. | Senior Vice President & Head of Human Resources |
| Rosenthal, Benjamin L. | Senior Vice President & Chief Risk Officer |
| Sabal, Craig A. | Senior Vice President, Deputy Chief Investment Officer & Chief Derivatives Officer |
| Schwartz, Rachel S. | Senior Vice President & Associate General Counsel |
| Simonetti, Richard P. | Senior Vice President |
| Susser, Andrew M. | Senior Vice President |
| Taylor, Todd | Senior Vice President |
| Tillotson, Sandra G. | Senior Vice President & Chief Compliance Officer |
| Virendra, Sonali | Senior Vice President |
| Vu, Don D. | Senior Vice President |
| Walsh, Edward C. | Senior Vice President |
| Williams, Brian D. | Senior Vice President |
| Wion, Matthew D. | Senior Vice President |
| Abdelkader, Farid | Vice President & Associate General Auditor |
| Advani, Janice | Vice President |
| Alam, Raian | Vice President & Managing Director |
| Albano, Angelina | Vice President |
| Almiroudis, Demetra | Vice President |
| Armstrong, Vivian | Vice President |
| Ascione, Mitchell P. | Vice President |
| Bain, Karen A. | Vice President |
| Ballman, Cheryl | Vice President |
| Becher, Eric R. | Vice President |
| Behar, Paul | Vice President |
| Beligotti, Jeffrey | Vice President |
| Ben-Ami, Kevin A. | Vice President & Associate General Counsel |
| Black, Meaghan | Vice President |
| Boccio, John | Vice President |
| Bonavitacola, Erica B. | Vice President |
| Borisenko, Evgueni | Vice President & Actuary |
| Boyd IV, Robert L. | Vice President |
| Braut, Stephen A. | Vice President |
| Bredikis, Scott | Vice President |
| Breslin, Christopher J. | Vice President |
| Brobston, Irena S. | Vice President |
| Brochard, Gabrielle | Vice President & Actuary |
| Brotherton, Diane M. | Vice President |
| Brown, Justin E. | Vice President |
| Caminiti, Philip E. | Vice President |
| Carbone, Jeanne M. | Vice President & Actuary |
| Carey, Christopher H. | Vice President |
| Carrig, Erica E. | Vice President & Associate General Counsel |
| Chan, David | Vice President, Associate General Counsel & Assistant Secretary |
| Chan, Vee-En | Vice President |
| Cherpelis, George S. | Vice President |
| Choi, Edward | Vice President |
| Chua, Albert | Vice President & Actuary |
| Citera, Frank | Vice President |
| Civello, Alisa M. | Vice President |
| Cobaj, Skender | Vice President |
| Cohen, Andrew J. | Vice President |

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------

---

| | |
|:---|:---|
| **Name:** | **Title:** |
| Cohen, Ross E. | Vice President |
| Collins, Maria V. | Vice President |
| Colton, Andrew | Vice President & Actuary |
| Cole, Kerry | Vice President & Managing Director |
| Contey, Allison | Vice President |
| Conti, Jane S. | Vice President |
| Cooper, Natalie | Vice President |
| Council, Catherine | Vice President |
| Crawford, Thomas | Vice President & Actuary |
| Cristello, Cindy | Vice President |
| Curran, Debra | Vice President |
| Danzig, Jeff | Vice President & Actuary |
| Dave, Ushir | Vice President |
| Davidowitz, Aron B. | Vice President |
| Davis, Juliet | Vice President |
| Del Bello, Timothy | Vice President |
| DelGreco, Phylliss A. | Vice President & Associate General Counsel |
| DiCalogero, John V. | Vice President |
| DiCarmine, Kristen | Vice President |
| DiRago, John C. | Vice President |
| Donner, Andrew | Vice President |
| Donohue, Robert P. | Vice President & Assistant Treasurer |
| Duarte, Deborah | Vice President |
| Eppink, Jr., Richard H. | Vice President |
| Facinelli, Joanne S. | Vice President |
| Feeney, Brendan L. | Vice President |
| Feinberg, Amarya | Vice President & Actuary |
| Ferreira, Leandra C. | Vice President |
| Fitzgerald, Christopher P. | Vice President |
| Florin, Timothy | Vice President |
| Fong, Michael | Vice President & Actuary |
| Fox, Ryan D. | Vice President |
| Freeman, Lisa A. | Vice President |
| Fromm, Paul | Vice President |
| Froshiesar, Donn | Vice President |
| Gallagher, Erin M. | Vice President |
| Gamble, Michael | Vice President |
| Gangemi, Thomas J. | Vice President & Chief Underwriter |
| Gao, J. Kevin | Vice President & Associate General Counsel |
| Gill, Sandra | Vice President |
| Gleason, Kevin M. | Vice President |
| Goel, Prakhar | Vice President |
| Goldstein, Andrew | Vice President |
| Goldstein, Paul Z. | Vice President & Associate General Counsel |
| Goodwin, Lauren E. | Vice President |
| Gostling, Page H. | Vice President |
| Grace, Deborah A. | Vice President |
| Gunda, Kishore | Vice President |
| Hajducek, Laura | Vice President |
| Hale, Rachel | Vice President & Actuary |
| Hammie, Tyrin | Vice President |
| Han, Wen Wei | Vice President & Actuary |

---

------

---

| | |
|:---|:---|
| **Name:** | **Title:** |
| Hanley, Dale A. | Vice President |
| Hayden, Adam C. | Vice President |
| Healy, Brendan J. | Vice President |
| Healy, John J. | Vice President |
| Hekmat, Saba | Vice President |
| Henderson, Loyd T. | Vice President |
| Hoffman, Eric S. | Vice President |
| Huang, Angela | Vice President & Actuary |
| Hyland, Meredith K. | Vice President |
| Ingham, Scott | Vice President & Assistant Secretary |
| Jackson, Eric | Vice President |
| Jackson, Zerlina R. | Vice President |
| James, Jack A. | Vice President |
| Johnston, Todd C. | Vice President |
| Kakkanattu, Manuel M. | Vice President |
| Katti, Rohit R. | Vice President |
| Kelly, Christopher P. | Vice President & Associate General Auditor |
| Kim, Terry | Vice President |
| Klatell, Jeremy N. | Vice President, Associate General Counsel & Chief Litigation Counsel |
| Kowal, Neha | Vice President |
| Kraus, Linda M. | Vice President |
| Kula, Michael | Vice President & Actuary |
| Kyan, Raymond | Vice President |
| LaPier, Theodore | Vice President & Associate General Counsel |
| Larkin, Colleen E. | Vice President & Assistant Secretary |
| Laugesen, Katie | Vice President |
| Lawrence, Cameryn A. | Vice President |
| Lee, Young | Vice President |
| Lewis, Sean S. | Vice President |
| Lewis, Tanner | Vice President |
| Loden, Wesley | Vice President & Actuary |
| Long, Harry Scott | Vice President |
| Lunny, Ryan | Vice President |
| Lynn, Eric J. | Vice President & Actuary |
| Machols, Jeffrey J. | Vice President |
| Madgett, Sean | Vice President |
| Marcel, Imari | Vice President |
| Marinaccio, Ralph S. | Vice President |
| Martello, Virginia C. | Vice President |
| Martin, Trina | Vice President |
| McGilberry, Brent | Vice President |
| McKeon, John | Vice President & Actuary |
| McNamara, Stephen J. | Vice President & Actuary |
| McNulty, Stephen B. | Vice President |
| Melka, Frank David | Vice President |
| Micale, Anthony F. | Vice President |
| Micun, Pawel | Vice President |
| Millay, Edward P. | Vice President |
| Mitchinson, Tod J. | Vice President |
| Mitra, Debapriya | Vice President |
| Moo-Young, Jillian | Vice President |
| Mosquera, Jaime | Vice President & Actuary |

---

------

---

| | |
|:---|:---|
| **Name:** | **Title:** |
| Mossessian, Dmitri | Vice President |
| Mount, William J. | Vice President |
| Mujala, Maambo | Vice President |
| Mwaramba, Rutendo | Vice President & Actuary |
| Nair, Dinesh K. | Vice President |
| Nayar, Ridhika | Vice President |
| Newman, Jennifer | Vice President |
| Ng, Ching (Andrew) | Vice President & Actuary |
| O'Brien, Daniel J. | Vice President |
| O'Hearn, Claudine C. | Vice President |
| O'Neill, Kathleen | Vice President, Associate General Counsel, & Assistant Secretary |
| Orban, Rachel | Vice President, Associate General Counsel, & Assistant Secretary |
| Orselli, Francesco | Vice President & Managing Director |
| Panganiban, Maria E. | Vice President |
| Paone, Jonathan T. | Vice President |
| Pavone, Joseph | Vice President |
| Perrotti, Anthony R. | Vice President |
| Perry, Valerie L. | Vice President |
| Perseghin, Andrew J. | Vice President |
| Petersen, Todd | Vice President & Actuary |
| Pizzute, Robert J. | Vice President |
| Poli, Christopher | Vice President & Managing Director |
| Portnoy, Michael | Vice President |
| Power, Kevin J. | Vice President |
| Quarella, Anthony | Vice President & Actuary |
| Quartararo, Paul | Vice President |
| Rajendran, Paul P. | Vice President |
| Rangachar, Raghu | Vice President & Actuary |
| Rao, Achuth | Vice President |
| Rice, Scott | Vice President |
| Riven, Inga | Vice President & Actuary |
| Rodgers, Kathryn A. | Vice President |
| Rodrigue, Kyle | Vice President |
| Rosenblum, Tal | Vice President |
| Rotondo, Richard | Vice President |
| Roy, Jennifer M. | Vice President |
| Rubin, Janis C. | Vice President |
| Sabo, Phillip J. | Vice President |
| Salvatore, Daniel | Vice President |
| Sarma, Samar | Vice President |
| Schirizzo, Michael | Vice President |
| Scozzafava, Mark J. | Vice President |
| Seaman, Brian | Vice President |
| Seewald, Scott R. | Vice President |
| Seguin, Brian | Vice President |
| Serdyuk, Elena | Vice President |
| Seyb, Sean M. | Vice President |
| Shah, Chintan T. | Vice President |
| Shan, YiYi | Vice President |
| Shapiro, Natalie | Vice President |
| Sharma, Vikas | Vice President |
| Shaub, Sarah | Vice President |

---

------

---

| | |
|:---|:---|
| **Name:** | **Title:** |
| Sherman, Eric C. | Vice President & Actuary |
| Sherman, Nancy G. | Vice President |
| Singh, Jacqueline | Vice President |
| Smith, Kevin M. | Vice President |
| Solazzo, Amy L. | Vice President |
| Sommer, Kenneth M. | Vice President |
| Standbridge, Elizabeth A. | Vice President |
| Steelman, Elliot H. | Vice President |
| Stengel, Agustin | Vice President |
| Stricoff, Celine | Vice President |
| Strutton, Rebecca | Vice President & Associate General Counsel |
| Suh, Hannah L. | Vice President & Actuary |
| Suryapranata, Monica | Vice President |
| Sverdlov, Michael | Vice President |
| Tamayo-Sanchez, Angelica | Vice President |
| Thomas, Robert W. | Vice President |
| Tillinghast, Mark E. | Vice President |
| Tobin, Michael | Vice President |
| Todorov, Natalia | Vice President |
| Tomassi, Deborah A. | Vice President |
| Torrey, Arthur S. | Vice President |
| Tripi, Stephen A. | Vice President |
| Tyndell, Elizabeth A. | Vice President |
| Vandegrift, Jr., Donald P. | Vice President & Associate General Counsel |
| Vilchis, Hector D. | Vice President |
| Vinson, Stephen B. |  |
| Waelti, Linus | Vice President & Actuary |
| Wall, Joseph E. | Vice President |
| Wang, Ching C. | Vice President |
| Warga, Regina | Vice President |
| Warner, S. Andre | Vice President & Associate General Counsel |
| Weatherman, Aaron | Vice President & Actuary |
| Wei, Helen | Vice President |
| Weiss, Jennifer M. | Vice President |
| Whites, Jr., Charles A. | Vice President & Associate General Counsel |
| Wickwire, Brian D. | Vice President |
| Williams, Matthew | Vice President |
| Wilson, Michael E. | Vice President |
| Wolf, Madeline A. | Vice President |
| Wong, Judy | Vice President & Actuary |
| Wood, Melissa | Vice President |
| Wulwick, Jacqueline N. | Vice President |
| Yashnyk, Michael A. | Vice President |
| Yenko, Elizabeth M. | Vice President |
| Zaman, Nabeed | Vice President |
| Zeng, Paul | Vice President & Actuary |
| Meade, Colleen A. | Associate General Counsel & Secretary |

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ITEM 28. PERSONS CONTROLLED BY OR UNDER COMMON CONTROL WITH THE INSURANCE COMPANY OR THE REGISTERED SEPARATE ACCOUNT

The Insurance Company, NYLIAC, is a wholly-owned subsidiary of New York Life Insurance Company ("New York Life"). The Registered Separate Account is a segregated asset account of NYLIAC. The following chart indicates persons presumed to be controlled by New York Life(+), unless otherwise indicated. Subsidiaries of other subsidiaries are indented accordingly, and ownership is 100% unless otherwise indicated.

---

| | | |
|:---|:---|:---|
| **Name** | &nbsp;&nbsp; **Jurisdiction of**<br> **Organization**<br>| &nbsp;&nbsp; **Percent of Voting**<br> **Securities Owned**<br>|
| MSVEF II Investor LLC | (Delaware) | (NYLIC: 85%, NYLIAC: 15%) |
| MSVEF Investor LLC | (Delaware) |  |
| &nbsp;&nbsp;&nbsp; MSVEF Feeder LP | (Delaware) | (55.56%) |
| &nbsp;&nbsp;&nbsp;&nbsp; MSVEF REIT LLC | (Delaware) | (55.56%) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Madison Square Value Enhancement Fund LP <br> ("MSVEFLP")<br>| (Delaware) | (51%) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; MSVEF-MF Evanston GP LLC | (Delaware) | (51%) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; MSVEF-MF Evanston IL LP | (Delaware) | (51%) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; MSVEF-IND Commerce 303 GP LLC | (Delaware) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; MSVEF-IND Commerce 303 AZ LP | (Delaware) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; MSVEF-SW Commerce 303 JV LP | (Delaware) | (95%) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; MSVEF-MF Pennbrook Station GP LLC | (Delaware) | (51%) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; MSVEF-MF Pennbrook Station PA LP | (Delaware) | (MSVEFLP: 51%; GPLLC: 0%) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; MSVEF-MF Burrough's Mill GP LLC | (Delaware) | (MSVEFLP: 100%) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; MSVEF-MF Burrough's Mill NJ LP | (Delaware) | (MSVEFLP: 50%) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; MSVEF-MF Gramercy JV GP LLC | (Delaware) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; MSVEF-MF Gramercy OH LP | (Delaware) | (MSVEFLP: 100%; GPLLC: 0%) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; MSVEF-CR Gramercy JV LP | (Delaware) | (75%) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; MSVEF-CR Gramercy Owner GP LLC | (Delaware) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; MSVEF-CR Gramercy Owner LP | (Delaware) | (JV: 99.9%; GP/LLC: 0.1%) |
| New York Life Group Insurance Company of NY ("NYLG") | (New York) |  |
| Life Insurance Company of North America | (Pennsylvania) |  |
| &nbsp;&nbsp;&nbsp; LINA Benefit Payments, Inc. | (Delaware) |  |
| New York Life Benefit Payments LLC | (Delaware) |  |
| NYL Real Assets LLC | (Delaware) |  |
| NYL Emerging Manager LLC | (Delaware) |  |
| NYL Wind Investments LLC | (Delaware) |  |
| NYLIFE Insurance Company of Arizona | (Arizona) |  |
| NYLIC HKP Member LLC | (Delaware) | (NYLIC: 67.974%; NYLIAC: 32.026%) |
| New York Life Insurance and Annuity Corporation | (Delaware) |  |
| &nbsp;&nbsp;&nbsp; NYLIAC RLP II, LLC | (Delaware) |  |
| &nbsp;&nbsp;&nbsp; Development Funding Backed Pass-Through Trust <br> Series – 2025 A<br>| (Delaware) | (11.75197%) |
| New York Life Enterprises LLC | (Delaware) |  |
| &nbsp;&nbsp;&nbsp; SEAF Sichuan SME Investment Fund LLC | (Delaware) | (39.98%) |
| &nbsp;&nbsp;&nbsp; New York Life International Holdings Limited | (Mauritius) | (84.38%)1 |
| &nbsp;&nbsp;&nbsp;&nbsp; Max Estates Limited | (India) | (NYLIH: 19.45%, NYLIC: 1.29%) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Max I. Limited | (India) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Max Assets Services Limited | (India) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Max Square Limited | (India) | (Max: 51%, NYLIC: 49%) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pharmax Corporation Limited | (India) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Max Towers Private Limited | (India) | (Max: 51%, NYLIC: 49%) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Max Estates 128 Private Limited | (India) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Max Estate Gurgaon Limited | (India) |  |

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| | | |
|:---|:---|:---|
| **Name** | &nbsp;&nbsp; **Jurisdiction of**<br> **Organization**<br>| &nbsp;&nbsp; **Percent of Voting**<br> **Securities Owned**<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Acreage Builders Private Limited | (India) | (Max: 51%, NYLIC: 49%) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Astiki Realty Private Limited | (India) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Max Estates Gurgaon Two Limited | (India) |  |
| &nbsp;&nbsp;&nbsp; NYL Cayman Holdings Ltd. | (Cayman Islands) |  |
| &nbsp;&nbsp;&nbsp;&nbsp; NYL Worldwide Capital Investments LLC | (Delaware) |  |
| &nbsp;&nbsp;&nbsp; Seguros Monterrey New York Life, S.A. de C.V. | (Mexico) | (99.998%)2 |
| &nbsp;&nbsp;&nbsp;&nbsp; Administradora de Conductos SMNYL, S.A. de C.V. | (Mexico) | (99%) |
| &nbsp;&nbsp;&nbsp;&nbsp; Agencias de Distribucion SMNYL, S.A. de C.V. ("ADIS") | (Mexico) | (99%) |
| &nbsp;&nbsp;&nbsp;&nbsp; Inmobiliaria SMNYL, SA de C.V. | (Mexico) | (99%; ADIS: 1%) |
| NYLIM Jacob Ballas India Holdings IV | (Mauritius) |  |
| NYL 717 Texas Member LLC (Delaware) (NYLIC: 60%, <br> NYLIAC: 40%)<br>| (Delaware) | (NYLIC 60%; NYLIAC: 40%) |
| NYL 717 Texas Holdings LLC | (Delaware) | &nbsp;&nbsp; (fks NYLife 717 Texas Holdings LLC) <br> (NYLIC: 75.96., NYLIAC: 24.04%)<br>|
| &nbsp;&nbsp;&nbsp; NYL 717 Texas REIT Holdings | (Delaware) |  |
| &nbsp;&nbsp;&nbsp;&nbsp; NYL 717 Texas Avenue TX TRS, LLC | (Delaware) |  |
| &nbsp;&nbsp;&nbsp;&nbsp; NYL 717 Texas Avenue TX Owner, LLC | (Delaware) |  |
| MSSIV NYL Investor Member LLC (Delaware) | (Delaware) | (NYLIC: 90%, NYLIAC: 10%) |
| New York Life Investment Management Holdings LLC | (Delaware) |  |
| &nbsp;&nbsp;&nbsp; NYL Investors LLC (Delaware) | (Delaware) | &nbsp;&nbsp; (effective 1.1.2026 the entity's <br> ownership changed from NYLIC to <br> NYLIM and the structure moved <br> under NYLIM)<br>|
| &nbsp;&nbsp;&nbsp;&nbsp; NYL Investors (U.K.) Limited | (UK) |  |
| &nbsp;&nbsp;&nbsp;&nbsp; NYL Investors REIT Manager LLC | (Delaware) |  |
| &nbsp;&nbsp;&nbsp;&nbsp; MSVEF II GP LLC | (Delaware) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; MSVEF RT Feeder II LP | (Delaware) | (70%) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; MSVEF II RT LLC | (Delaware) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Madison Square Value Enhancement Fund II LP | (Delaware) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; MSVEF II – MF Innsbrook VA LLC | (Delaware) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; MSVEF II-IND Turner West KS LLC | (Delaware) | (formed 1/22/2026) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; MSVEF II-IND Turner West KS JV LLC | (Delaware) | (formed 1/22/2026) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; MSVEF II-IND Turner West KS Owner 6 LLC | (Delaware) | (formed 1/22/2026) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; MSVEF II-IND Turner West KS Owner 7 LLC | (Delaware) | (formed 1/22/2026) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; MSVEF II-IND Turner West KS Owner 8 LLC | (Delaware) | (formed 1/22/2026) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; MSVEF II – MF Graces Reserve Member NC LLC | (Delaware) | (MSVEFIIInvestor: 90%) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Graces Reserve JV LLC | (Delaware) | (90%) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Graces Reserve NC Owner LLC | (Delaware) | (99.9%) |
| &nbsp;&nbsp;&nbsp;&nbsp; NYL Investors NCVAD II GP, LLC | (Delaware) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; McMorgan Northern California Value <br> Add/Development Fund II, LP<br>| (Delaware) | (50%) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; MNCVAD II-OFC 770 L Street CA LLC | (Delaware) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; MNCVAD II-MF UNION CA LLC | (Delaware) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; MNCVAD II- HOLLIDAY UNION JV LLC | (Delaware) | (90%) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; MNCVAD II-OFC HARBORS CA LLC | (Delaware) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; MNCVAD II-SEAGATE HARBORS LLC | (Delaware) | **(LLC: 90%)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; MNCVAD II-OFC 630 K Street CA LLC | (Delaware) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; MNCVAD II-IND SHILOH CA LLC | (Delaware) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; MNCVAD II-BIG SHILOH JV LLC | (Delaware) | **(90%)** |
| &nbsp;&nbsp;&nbsp;&nbsp; MSSDF GP LLC | (Delaware) |  |
| &nbsp;&nbsp;&nbsp;&nbsp; MSSDF II GP LLC | (Delaware) |  |

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| | |
|:---|:---|
| **Name** | &nbsp;&nbsp; **Percent of Voting**<br> **Securities Owned**<br>|
| &nbsp;&nbsp;&nbsp;&nbsp; MSSDF II Member LLC<br> (Delaware) | **(NYLIC: 35%, NYLIAC: 65%)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Madison Square Structured Debt Fund II LP<br> (Delaware) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; MSSDF REIT II LLC<br> (Delaware) |  |
| &nbsp;&nbsp;&nbsp;&nbsp; MSSDF Member LLC (Delaware) | **(NYLIC: 35%, NYLIAC: 65%)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Madison Square Structured Debt Fund LP<br> (Delaware) | **(40.4%)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; MSSDF REIT LLC<br> (Delaware) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; MSSDF REIT Funding Sub I LLC<br> (Delaware) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; MSSDF REIT Funding Sub II LLC<br> (Delaware) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; MSSDF REIT Funding Sub III LLC<br> (Delaware) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; MSSDF REIT Funding Sub IV LLC<br> (Delaware) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; MSSDF REIT Funding Sub V LLC<br> (Delaware) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; MSSDF REIT Funding Sub VI LLC<br> (Delaware) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; MSSDF REIT Funding Sub VII LLC<br> (Delaware) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; MSSDF-OFCB Voss San Felipe LLC<br> (Delaware) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; MSSDF-OFCB Woodway LLC<br> (Delaware) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; MSSDF-OFCB Hanover LLC<br> (Delaware) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; MSSDF-OFCB El Segundo LLC<br> (Delaware) |  |
| &nbsp;&nbsp;&nbsp;&nbsp; MSSIV GP LLC<br> (Delaware) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Madison Square Strategic Investments Venture LP<br> (Delaware) | &nbsp;&nbsp; **(MSSIV NYL Investor Member LLC** <br> **51%; TP: 49%)**<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; MSSIV REIT Manager LLC<br> (Delaware) | **(51%)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Madison Square Strategic Investments Venture REIT <br> LLC<br>(Delaware) | **(51%)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; MSSIV- MF Country Place MD LLC<br> (Delaware) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; MSSIV-IND Speedway SC LLC<br> (Delaware) | **(NYL: 45:90%, NYLIAC: 5.1%)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; NRL Speedway Venture LLC<br> (Delaware) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; SC Speedway Hwy 124, LLC<br> (Delaware) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; MSSIV-IND Speedway Phase II JV SC LLC<br> (Delaware) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; MSSIV-IND Speedway Phase II Member SC LLC<br> (Delaware) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; SC Speedway Grand National, LLC<br> (Delaware) |  |
| &nbsp;&nbsp;&nbsp;&nbsp; MSVEF GP LLC<br> (Delaware) |  |
| &nbsp;&nbsp;&nbsp;&nbsp; MCPF GP LLC<br> (Delaware) |  |
| &nbsp;&nbsp;&nbsp;&nbsp; NYL Investors Madison Core Property Fund LP<br> (Delaware) | &nbsp;&nbsp; **(NYL Investors is Non Member** <br> **Manager 0.00%)**<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; MCPF Holdings Manager LLC<br> (Delaware) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; MCPF MA Holdings LLC<br> (Delaware) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; MCPF Holdings LLC<br> (Delaware) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; MADISON-IND TAMARAC FL LLC<br> (Delaware) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; MADISON-OFC BRICKELL FL LLC<br> (Delaware) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; MADISION-IND POWAY CA LLC<br> (Delaware) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; MADISON-LPC POWAY JV LLC<br> (Delaware) | **(95%)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; MADISON-MF GRANARY FLATS TX LLC<br> (Delaware) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; MADISON-AO GRANARY FLATS JV LLC<br> (Delaware) | **(99.999%; TP: 0.0001%)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; MADISON-AO GRANARY FLATS OWNER LLC<br> (Delaware) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; MADISON-MF THE MEADOWS WA LLC<br> (Delaware) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; MADISON-ACG THE MEADOWS OWNER LLC<br> (Delaware) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; MADISON-ACG THE MEADOWS JV LLC<br> (Delaware) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; MADISON-MOB Lee Highway VA LLC<br> (Delaware) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Madison-OFC 5161 CA LLC<br> (Delaware) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; MADISON-SS Kernersville QRS, Inc.<br> (Delaware) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; MADISON-LPP Kernersville JV GP LLC<br> (Delaware) | **(90%, TP: 10%)** |

---

------

---

| | |
|:---|:---|
| **Name** | &nbsp;&nbsp; **Percent of Voting**<br> **Securities Owned**<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; MADISON-LPP Kernersville JV LP<br> (Delaware) | **(90%, TP: 10%)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; MADISON-LPP Kernersville GP LLC<br> (Delaware) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; MADISON-LPP Kernersville LP<br> (Delaware) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; MADISON-MF Apex Newbury PA LLC<br> (Delaware) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; MCPF-MOB PEMBROKE PINES FL LLC<br> (Delaware) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; MCPF-MF Perimeter Gardens GA LLC<br> (Delaware) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; MADISON-IND LNDR TABOR ROAD NJ LLC<br> (Delaware) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Madison-MF Yorkshire MD LLC<br> (Delaware) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Yorkshire Apartments JV LLC<br> (Delaware) | **(90%)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Yorkshire Apartments LP<br> (Delaware) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; MADISON-IND 2080 ENTERPRISE CA LLC<br> (Delaware) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; MADISON-IND CLAWITER CA LLC<br> (Delaware) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; MADISON-REDCO CLAWITER JV LLC<br> (Delaware) | **(95%)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; MADISON-IND ENTERPRISE RIALTO CA LLC<br> (Delaware) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; MIREF Mill Creek, LLC<br> (Delaware) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; MIREF Gateway, LLC<br> (Delaware) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; MIREF Delta Court, LLC<br> (Delaware) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; MIREF Fremont Distribution Center, LLC<br> (Delaware) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; MIREF Century, LLC<br> (Delaware) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; MIREF Newpoint Commons, LLC<br> (Delaware) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; MIREF Northsight, LLC<br> (Delaware) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; MIREF Riverside, LLC<br> (Delaware) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; MIREF 101 East Crossroads, LLC<br> (Delaware) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 101 East Crossroads, LLC<br> (Delaware) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; MIREF Hawthorne, LLC<br> (Delaware) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; MIREF Auburn 277, LLC<br> (Delaware) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; MIREF Sumner North, LLC<br> (Delaware) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; MIREF Wellington, LLC<br> (Delaware) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; MIREF Warner Center, LLC<br> (Delaware) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; MADISON-MF Duluth GA LLC<br> (Delaware) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; MADISON-OFC Centerstone I CA LLC<br> (Delaware) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; MADISON-OFC Centerstone III CA LLC<br> (Delaware) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; MADISON-MOB Centerstone IV CA LLC<br> (Delaware) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; MADISON-OFC Centerpoint Plaza CA LLC<br> (Delaware) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; MADISON-OFC One Main Place OR LLC<br> (Delaware) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; MADISON-MF Hoyt OR LLC<br> (Delaware) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; MADISON-RTL Clifton Heights PA LLC<br> (Delaware) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; MADISON-IND Locust CA LLC<br> (Delaware) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; MADISON-OFC Weston Pointe FL LLC<br> (Delaware) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; MADISON-MF MCCADDEN CA LLC<br> (Delaware) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; MADISON-OFC 1201 WEST IL LLC<br> (Delaware) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; MADISON-MCCAFFERY 1201 WEST IL LLC<br> (Delaware) | **(92.5%)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; MADISON-MF TECH RIDGE TX LLC<br> (Delaware) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; MADISON-RTL SARASOTA FL, LLC<br> (Delaware) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; MADISON-MOB CITRACADO CA LLC<br> (Delaware) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Madison-MF Osprey QRS Inc.<br> (Delaware) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Madison-MF Osprey NC GP LLC<br> (Delaware) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Madison-MF Osprey NC LP<br> (Delaware) | **(QRS: 99%; GP/LLC: 1%)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; MADISON-SS Crozet VA LLC<br> (Delaware) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; MADISON-LPP Crozet JV LLC<br> (Delaware) |  |
| &nbsp;&nbsp; NYLIM Capital LLC<br> (Delaware) |  |

---

------

---

| | | |
|:---|:---|:---|
| **Name** | &nbsp;&nbsp; **Jurisdiction of**<br> **Organization**<br>| &nbsp;&nbsp; **Percent of Voting**<br> **Securities Owned**<br>|
| &nbsp;&nbsp; Bow River Advisers, LLC | (Delaware) | (49%) |
| &nbsp;&nbsp; NYL Investments Europe Limited | (Ireland) |  |
| &nbsp;&nbsp; NYL Investments (International) Ltd. | (UK) |  |
| &nbsp;&nbsp; NYL Investments (Services) Ltd. | (UK) |  |
| &nbsp;&nbsp;&nbsp; NYL Investments UK LLP | (UK) | (NYLIL: 99%; NYLISL: 1%) |
| &nbsp;&nbsp; New York Life Investment Management Asia Limited | (Cayman Islands) |  |
| &nbsp;&nbsp;&nbsp; Japan Branch |  |  |
| &nbsp;&nbsp; MacKay Shields LLC | (Delaware) |  |
| &nbsp;&nbsp;&nbsp; MacKay Shields Emerging Markets Debt Portfolio | (Delaware) |  |
| &nbsp;&nbsp;&nbsp; MacKay Municipal Managers Opportunities GP LLC | (Delaware) |  |
| &nbsp;&nbsp;&nbsp;&nbsp; MacKay Municipal Opportunities Master Fund, L.P. | (Delaware) |  |
| &nbsp;&nbsp;&nbsp;&nbsp; MacKay Municipal Opportunities Fund, L.P. | (Delaware) |  |
| &nbsp;&nbsp;&nbsp; MacKay Municipal Managers Credit Opportunities GP <br> LLC<br>| (Delaware) |  |
| &nbsp;&nbsp;&nbsp;&nbsp; MacKay Municipal Credit Opportunities Master Fund, <br> L.P.<br>| (Delaware) |  |
| &nbsp;&nbsp;&nbsp;&nbsp; MacKay Municipal Credit Opportunities Fund, L.P. | (Delaware) |  |
| &nbsp;&nbsp;&nbsp;&nbsp; MacKay Municipal Credit Opportunities HL Fund, L.P. | (Delaware) |  |
| &nbsp;&nbsp;&nbsp; MacKay Municipal Short Term Opportunities Fund GP <br> LLC<br>| (Delaware) |  |
| &nbsp;&nbsp;&nbsp;&nbsp; MacKay Municipal Short Term Opportunities Fund LP | (Delaware) |  |
| &nbsp;&nbsp;&nbsp; Plainview Funds plc | (Ireland) | &nbsp;&nbsp; (50%) (MacKay Shields Employee: <br> 50%)<br>|
| &nbsp;&nbsp;&nbsp;&nbsp; Plainview Funds plc – MacKay Shields Strategic Bond <br> Portfolio<br>| (Ireland) | (NYLIC: 0.00%; MacKay: 0.00%) |
| &nbsp;&nbsp;&nbsp;&nbsp; Plainview Funds plc – MacKay Shields Structured <br> Products Opportunities Portfolio<br>| (Ireland) | (NYLIC: 0.00%; MacKay: 0.00%) |
| &nbsp;&nbsp;&nbsp;&nbsp; Plainview Funds plc – MacKay Shields Emerging <br> Markets Debt Portfolio<br>|  | (NYLIC: 99.36%; MacKay: 0.64%) |
| &nbsp;&nbsp;&nbsp; MacKay Shields High Yield Active Core Fund GP LLC | (Delaware) |  |
| &nbsp;&nbsp;&nbsp;&nbsp; MacKay Shields High Yield Active Core Fund LP | (Delaware) |  |
| &nbsp;&nbsp;&nbsp; MacKay Shields Defensive Bond Arbitrage Fund Ltd. | (Bermuda) | (.07%)3 |
| &nbsp;&nbsp;&nbsp; MacKay Shields Core Fixed Income Fund GP LLC | (Delaware) |  |
| &nbsp;&nbsp;&nbsp;&nbsp; MacKay Shields Core Fixed Income Fund LP | (Delaware) |  |
| &nbsp;&nbsp;&nbsp; MacKay Shields Select Credit Opportunities Fund GP <br> LLC<br>| (Delaware) |  |
| &nbsp;&nbsp;&nbsp;&nbsp; MacKay Shields Select Credit Opportunities Fund LP | (Delaware) |  |
| &nbsp;&nbsp;&nbsp; MacKay Municipal Managers California Opportunities <br> GP LLC<br>| (Delaware) |  |
| &nbsp;&nbsp;&nbsp;&nbsp; MacKay Municipal California Opportunities Fund, L.P. | (Delaware) |  |
| &nbsp;&nbsp;&nbsp; MacKay Municipal New York Opportunities GP LLC | (Delaware) |  |
| &nbsp;&nbsp;&nbsp;&nbsp; MacKay Municipal New York Opportunities Fund, L.P. | (Delaware) |  |
| &nbsp;&nbsp;&nbsp;&nbsp; MacKay Municipal Opportunities HL Fund, L.P. | (Delaware) |  |
| &nbsp;&nbsp;&nbsp; MacKay Municipal Capital Trading GP LLC | (Delaware) |  |
| &nbsp;&nbsp;&nbsp;&nbsp; MacKay Municipal Capital Trading Master Fund, L.P. | (Delaware) |  |
| &nbsp;&nbsp;&nbsp;&nbsp; MacKay Municipal Capital Trading Fund, L.P. | (Delaware) |  |
| &nbsp;&nbsp;&nbsp; MacKay Shields Intermediate Bond Fund GP LLC | (Delaware) |  |
| &nbsp;&nbsp;&nbsp;&nbsp; MacKay Shields Intermediate Bond Fund LP | (Delaware) |  |
| &nbsp;&nbsp;&nbsp; MacKay Municipal Managers Opportunities Allocation <br> GP LLC<br>| (Delaware) |  |
| &nbsp;&nbsp;&nbsp;&nbsp; MacKay Municipal Opportunities Allocation Master <br> Fund LP<br>| (Delaware) |  |

---

------

---

| | |
|:---|:---|
| **Name** | &nbsp;&nbsp; **Percent of Voting**<br> **Securities Owned**<br>|
| &nbsp;&nbsp;&nbsp;&nbsp; MacKay Municipal Opportunities Allocation Fund A LP<br> (Delaware) |  |
| &nbsp;&nbsp;&nbsp;&nbsp; MacKay Municipal Opportunities Allocation Fund B LP<br> (Delaware) |  |
| &nbsp;&nbsp;&nbsp; MacKay Municipal Managers High Yield Select GP LLC<br> (Delaware) |  |
| &nbsp;&nbsp;&nbsp;&nbsp; MacKay Municipal High Yield Select Fund LP<br> (Delaware) |  |
| &nbsp;&nbsp;&nbsp; MacKay Municipal Managers High Income <br> Opportunities GP LLC<br>(Delaware) |  |
| &nbsp;&nbsp;&nbsp;&nbsp; MacKay Municipal High Income Opportunities Fund LP<br> (Delaware) |  |
| &nbsp;&nbsp;&nbsp; MKS Digital Assets LLC<br> (Delaware) |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Candriam Global Emerging Markets Equities Fund LP<br> (Delaware) | (GP: 0.00%; NYLIAC: 0.00%) |
| &nbsp;&nbsp;&nbsp; MacKay Shields Series Fund Managing Member LLC<br> (Delaware) |  |
| &nbsp;&nbsp;&nbsp;&nbsp; MacKay Shields Series Fund<br> (Delaware) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Securitized Credit Opportunities Series<br> (Delaware) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; High Yield Corporate Bond Series | (NYL: 0%) |
| &nbsp;&nbsp;&nbsp; MacKay Shields Emerging Markets Sovereign Debt <br> Feeder Fund GP LLC<br>(Delaware) |  |
| &nbsp;&nbsp;&nbsp;&nbsp; MacKay Shields Emerging Markets Sovereign Debt <br> Feeder Fund LP<br>(Delaware) |  |
| &nbsp;&nbsp; Apogem Capital LLC fka New York Life Investments <br> Alternatives LLC<br>(Delaware) |  |
| &nbsp;&nbsp;&nbsp; Apogem GP LLC<br> (Delaware) |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Apogem Gannett Opportunity Fund LP<br> (Delaware) |  |
| &nbsp;&nbsp;&nbsp; Apogem SRL 2 LLC<br> (Delaware)<sup>7</sup> <br>| (0 voting ownership) |
| &nbsp;&nbsp;&nbsp; Apogem SRL 3 LLC<br> (Delaware)<sup>7</sup> <br>| (0 voting ownership) |
| &nbsp;&nbsp;&nbsp; Madison Capital Funding LLC<br> (Delaware) | &nbsp;&nbsp; (NYLIC: 21.90%; NYLIAC 65.64%; <br> LINA 12.46%)<br>|
| &nbsp;&nbsp;&nbsp;&nbsp; MCF Co-Investment GP LLC<br> (Delaware) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; MCF Co-Investment GP LP<br> (Delaware) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Madison Capital Funding Co-Investment Fund LP<br> (Delaware) |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Madison Avenue Loan Fund GP LLC<br> (Delaware) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Madison Avenue Loan Fund LP<br> (Delaware) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; MCF Fund I LLC<br> (Delaware) |  |
| &nbsp;&nbsp;&nbsp;&nbsp; MCF Hanwha Fund LLC<br> (Delaware)<sup>7</sup> <br>| (0 voting ownership) |
| &nbsp;&nbsp;&nbsp;&nbsp; Ironshore Investment BL I Ltd.<br> (Bermuda)<sup>7</sup> <br>| (0 voting ownership) |
| &nbsp;&nbsp;&nbsp;&nbsp; MCF CLO IV LLC<br> (Delaware)<sup>7</sup> <br>| (NYLIC: 6.7%) |
| &nbsp;&nbsp;&nbsp;&nbsp; MCF CLO V LLC<br> (Delaware)<sup>7</sup> <br>| (NYLIC: 5%) |
| &nbsp;&nbsp;&nbsp;&nbsp; MCF CLO VI LLC<br> (Delaware)<sup>7</sup> <br>| (0 voting ownership) |
| &nbsp;&nbsp;&nbsp;&nbsp; MCF CLO VII LLC (f/k/a LMF WF Portfolio III, LLC)<br> (Delaware)<sup>7</sup> <br>| (0 voting ownership) |
| &nbsp;&nbsp;&nbsp;&nbsp; MCF CLO VIII Ltd.<br> (Delaware)<sup>7</sup> <br>| (0 voting ownership) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; MCF CLO VIII LLC<br> (Delaware) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; MCF CLO VIII Blocker LLC<br> (Delaware) |  |
| &nbsp;&nbsp;&nbsp;&nbsp; MCF CLO IX Ltd.<br> (Cayman Islands)<sup>7</sup> <br>|  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; MCF CLO IX LLC<br> (Delaware) |  |
| &nbsp;&nbsp;&nbsp;&nbsp; MCF CLO 10 Ltd.<br> (Bailiwick, Jersey)<sup>7</sup> <br>|  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; MCF CLO 10 LLC<br> (Delaware) | (Ltd. 100%) |
| &nbsp;&nbsp;&nbsp;&nbsp; MCF CLO IX Blocker LLC<br> (Delaware) |  |
| &nbsp;&nbsp;&nbsp;&nbsp; MFS CLO 10 Blocker LLC<br> (Delaware) |  |
| &nbsp;&nbsp;&nbsp;&nbsp; MCF KB Fund LLC<br> (Delaware)<sup>7</sup> <br>| (0 voting ownership) |
| &nbsp;&nbsp;&nbsp;&nbsp; MCF KB Fund II LLC<br> (Delaware)<sup>7</sup> <br>| (0 voting ownership) |
| &nbsp;&nbsp;&nbsp;&nbsp; MCF KB Fund III LLC<br> (Delaware)<sup>7</sup> <br>| (0 voting ownership) |
| &nbsp;&nbsp;&nbsp;&nbsp; MCF Hyundai Fund LLC<br> (Delaware)<sup>7</sup> <br>| (0 voting ownership) |
| &nbsp;&nbsp;&nbsp;&nbsp; Apogem Direct Lending Hyundai Fund 2 LLC<br> (Delaware)<sup>7</sup> <br>| (0 voting ownership) |

---

------

---

| | | |
|:---|:---|:---|
| **Name** | &nbsp;&nbsp; **Jurisdiction of**<br> **Organization**<br>| &nbsp;&nbsp; **Percent of Voting**<br> **Securities Owned**<br>|
| &nbsp;&nbsp;&nbsp;&nbsp; Apogem Direct Lending Levered Fund 2023-1 LLC | (Delaware)<sup>7</sup> <br>| (0 voting ownership) |
| &nbsp;&nbsp;&nbsp;&nbsp; Apogem Direct Lending Loan Portfolio 2023 LLC | (Delaware)<sup>7</sup> <br>| (0 voting ownership) |
| &nbsp;&nbsp;&nbsp;&nbsp; Apogem DL Levered Fund 2023-1 LLC | (Delaware)<sup>7</sup> <br>| (0 voting ownership) |
| &nbsp;&nbsp;&nbsp;&nbsp; Apogem DL Levered Fund SPV 2023-1 LLC | (Delaware)<sup>7</sup> <br>| (0 voting ownership) |
| &nbsp;&nbsp;&nbsp;&nbsp; Apogem Umbrella | (Cayman Islands)<sup>7</sup> <br>| (0 voting ownership) |
| &nbsp;&nbsp;&nbsp;&nbsp; Apogem US Direct Lending Limited I | (Cayman Islands)<sup>7</sup> <br>| (0 voting ownership) |
| &nbsp;&nbsp;&nbsp;&nbsp; Apogem Direct Lending Nighthawk Fund | (Cayman Islands) | (Apogem initially) |
| &nbsp;&nbsp;&nbsp;&nbsp; MCF Senior Debt Fund 2020 GP LLC | (Delaware)<sup>7</sup> <br>| (0 voting ownership) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; MCF Senior Debt Fund – 2020 LP | (Cayman Islands)<sup>7</sup> <br>| (0 voting ownership) |
| &nbsp;&nbsp;&nbsp;&nbsp; MCF Mezzanine Carry I LLC | (Delaware)<sup>7</sup> <br>|  |
| &nbsp;&nbsp;&nbsp;&nbsp; MCF Mezzanine Fund I LLC | (Delaware) | (NYLIC: 66.66%; NYLIAC: 33.33%) |
| &nbsp;&nbsp;&nbsp;&nbsp; MCF PD Fund GP LLC | (Delaware)<sup>7</sup> <br>|  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; MCF PD Fund LP | (Delaware)<sup>7</sup> <br>|  |
| &nbsp;&nbsp;&nbsp;&nbsp; MCF Senior Debt Fund 2019-I GP LLC | (Delaware)<sup>7</sup> <br>|  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; MCF Senior Debt Fund 2019-I LP | (Delaware)<sup>7</sup> <br>|  |
| &nbsp;&nbsp;&nbsp; Apogem Senior Direct Lending Fund GP LLC | (Delaware) |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Apogem Senior Direct Lending Origination Company <br> (O) LP<br>| (Delaware) |  |
| &nbsp;&nbsp;&nbsp; New York Life Capital Partners III GenPar GP, LLC | (Delaware) |  |
| &nbsp;&nbsp;&nbsp; New York Life Capital Partners IV GenPar GP, LLC | (Delaware) |  |
| &nbsp;&nbsp;&nbsp;&nbsp; New York Life Capital Partners IV, L.P | (Delaware) |  |
| &nbsp;&nbsp;&nbsp; GoldPoint Core Opportunities Fund, L.P. | &nbsp;&nbsp; (Delaware Series <br> LP)<br>|  |
| &nbsp;&nbsp;&nbsp; GoldPoint Core Opportunities Fund II L.P. | &nbsp;&nbsp; (Delaware Series <br> LP)<br>|  |
| &nbsp;&nbsp;&nbsp; GoldPoint Mezzanine Partners IV GenPar GP, LLC | (Delaware) |  |
| &nbsp;&nbsp;&nbsp;&nbsp; GoldPoint Mezzanine Partners IV GenPar, LP | (Delaware) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; GoldPoint Mezzanine Partners Co-Investment Fund <br> A, LP<br>| (Delaware) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; GoldPoint Mezzanine Partners IV, LP | (Delaware) | ("GPPIVLP") |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; GPP Mezz IV A Blocker LP | (Delaware) | ("GPPMBA") |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; GPP Mezz IV A Preferred Blocker LP | (Delaware) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; GPP Mezz IV C Blocker LP | (Delaware) | ("GPPMBC") |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; GPP Mezz IV D Blocker LP | (Delaware) | ("GPPMBD") |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; GPP Mezz IV ECI Aggregator LP name change from <br> GPP Mezzanine Blocker E, LP<br>| (Delaware) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; GPP Mezz IV F Blocker LP | (Delaware) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; GPP Mezz IV G Blocker LP | (Delaware) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; GPP Mezz IV H Blocker LP | (Delaware) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; GPP Mezz IV I Blocker LP | (Delaware) |  |
| &nbsp;&nbsp;&nbsp;&nbsp; GoldPoint Mezzanine Partners Offshore IV, L.P. | (Cayman Islands) |  |
| &nbsp;&nbsp;&nbsp; GoldPoint Partners Co-Investment V GenPar GP LLC | (Delaware) |  |
| &nbsp;&nbsp;&nbsp;&nbsp; GoldPoint Partners Co-Investment V GenPar, LP | (Delaware) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; GoldPoint Partners Co-Investment Fund A, LP | (Delaware) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; GPP V – ECI Aggregator LP | (Delaware) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; GPP V G Blocker Holdco LP | (Delaware) |  |
| &nbsp;&nbsp;&nbsp; GoldPoint Partners Private Debt V GenPar GP, LLC | (Delaware) |  |
| &nbsp;&nbsp;&nbsp;&nbsp; GoldPoint Partners Private Debt Offshore V, LP | (Cayman Islands) |  |
| &nbsp;&nbsp;&nbsp;&nbsp; GPP Private Debt V RS LP | (Delaware) |  |

---

------

---

| | | |
|:---|:---|:---|
| **Name** | &nbsp;&nbsp; **Jurisdiction of**<br> **Organization**<br>| &nbsp;&nbsp; **Percent of Voting**<br> **Securities Owned**<br>|
| &nbsp;&nbsp;&nbsp;&nbsp; GoldPoint Partners Private Debt V GenPar, LP | (Delaware) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; GoldPoint Partners Private Debt V, LP | (Delaware) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; GPP PD V A Blocker LLC | (Delaware) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; GPP Private Debt V-ECI Aggregator LP | (Delaware) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; GPP PD V B Blocker LLC | (Delaware) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; GPP PD V D Blocker LLC | (Delaware) |  |
| &nbsp;&nbsp;&nbsp;&nbsp; GPP LuxCo V GP Sarl | (Luxembourg) |  |
| &nbsp;&nbsp;&nbsp; GoldPoint Partners Select Manager III GenPar GP, LLC | (Delaware) |  |
| &nbsp;&nbsp;&nbsp;&nbsp; GoldPoint Partners Select Manager III GenPar, L.P. | (Cayman Islands) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; GoldPoint Partners Select Manager Fund III, L.P. | (Cayman Islands) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; GoldPoint Partners Select Manager Fund III AIV, L.P. | (Delaware) |  |
| &nbsp;&nbsp;&nbsp; GoldPoint Partners Select Manager IV GenPar, GP, LLC | (Delaware) |  |
| &nbsp;&nbsp;&nbsp;&nbsp; GoldPoint Partners Select Manager IV GenPar, L.P. | (Delaware) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; GoldPoint Partners Select Manager Fund IV, L.P. | (Delaware) |  |
| &nbsp;&nbsp;&nbsp; GoldPoint Partners Select Manager V GenPar GP, LLC | (Delaware) |  |
| &nbsp;&nbsp;&nbsp;&nbsp; GoldPoint Partners Select Manager V GenPar, L.P. | (Delaware) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; GoldPoint Partners Select Manager Fund V, L.P. | (Delaware) |  |
| &nbsp;&nbsp;&nbsp; GoldPoint Partners Canada V GenPar Inc. | &nbsp;&nbsp; (New Brunswick, <br> Canada)<br>|  |
| &nbsp;&nbsp;&nbsp;&nbsp; GoldPoint Partners Select Manager Canada Fund V, <br> L.P.<br>| (Ontario, Canada) |  |
| &nbsp;&nbsp;&nbsp; GoldPoint Partners Canada III GenPar Inc. | (Canada) |  |
| &nbsp;&nbsp;&nbsp;&nbsp; GoldPoint Partners Select Manager Canada Fund III, <br> L.P.<br>| (Canada) |  |
| &nbsp;&nbsp;&nbsp; GoldPoint Partners Canada IV GenPar Inc. | (Canada) |  |
| &nbsp;&nbsp;&nbsp;&nbsp; GoldPoint Partners Select Manager Canada Fund IV, <br> L.P.<br>| (Canada) |  |
| &nbsp;&nbsp;&nbsp; GPP VI - ECI Aggregator LP | (Delaware) |  |
| &nbsp;&nbsp;&nbsp; GPP VI Blocker A LLC | (Delaware) |  |
| &nbsp;&nbsp;&nbsp; GPP VI Blocker B LLC | (Delaware) |  |
| &nbsp;&nbsp;&nbsp; GPP VI Blocker C LLC | (Delaware) |  |
| &nbsp;&nbsp;&nbsp; GPP VI Blocker D LLC | (Delaware) |  |
| &nbsp;&nbsp;&nbsp; GPP VI Blocker E LLC | (Delaware) |  |
| &nbsp;&nbsp;&nbsp; GPP VI Blocker F LLC | (Delaware) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; GPP VI Blocker | (Delaware) |  |
| &nbsp;&nbsp;&nbsp; GPP VI Blocker H LLC | (Delaware) |  |
| &nbsp;&nbsp;&nbsp; GPP VI Blocker I LLC | (Delaware) |  |
| &nbsp;&nbsp;&nbsp; Apogem CO-Invest VII GenPar, GP LLC | (Delaware) |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Apogem Co-Invest VII GenPar LP | (Delaware) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Apogem Co-Investment VII, LP | (Delaware) |  |
| &nbsp;&nbsp;&nbsp; GoldPoint Partners Canada GenPar, Inc. | (Canada) |  |
| &nbsp;&nbsp;&nbsp; NYLCAP Canada II GenPar Inc. | (Canada) |  |
| &nbsp;&nbsp;&nbsp;&nbsp; NYLCAP Select Manager Canada Fund II, L.P. | (Canada) |  |
| &nbsp;&nbsp;&nbsp; NYLIM Mezzanine Partners II GenPar GP, LLC | (Delaware) |  |
| &nbsp;&nbsp;&nbsp;&nbsp; NYLIM Mezzanine Partners II GenPar, LP | (Delaware) |  |
| &nbsp;&nbsp;&nbsp; NYLCAP Mezzanine Partners III GenPar GP, LLC | (Delaware) |  |
| &nbsp;&nbsp;&nbsp;&nbsp; NYLCAP Mezzanine Partners III GenPar, LP | (Delaware) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; NYLCAP Mezzanine Partners III, LP | (Delaware) |  |
| &nbsp;&nbsp;&nbsp;&nbsp; NYLCAP Mezzanine Offshore Partners III, L.P. | (Cayman Islands) |  |
| &nbsp;&nbsp;&nbsp; NYLCAP Select Manager GenPar, LP | (Delaware) |  |

---

------

---

| | | |
|:---|:---|:---|
| **Name** | &nbsp;&nbsp; **Jurisdiction of**<br> **Organization**<br>| &nbsp;&nbsp; **Percent of Voting**<br> **Securities Owned**<br>|
| &nbsp;&nbsp;&nbsp; NYLCAP Select Manager II GenPar GP, LLC | (Delaware) |  |
| &nbsp;&nbsp;&nbsp;&nbsp; NYLCAP Select Manager II GenPar, L.P. | (Cayman Islands) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; NYLCAP Select Manager Fund II, L.P. | (Cayman Islands) |  |
| &nbsp;&nbsp;&nbsp; NYLCAP India Funding LLC | (Delaware) |  |
| &nbsp;&nbsp;&nbsp;&nbsp; NYLIM-JB Asset Management Co. (Mauritius) LLC | (Mauritius) | (24.66%)4 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; New York Life Investment Management India Fund II, <br> LLC<br>| (Mauritius) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; New York Life Investment Management India Fund <br> (FVCI) II, LLC<br>| (Mauritius) |  |
| &nbsp;&nbsp;&nbsp; NYLCAP India Funding III LLC | (Delaware) |  |
| &nbsp;&nbsp;&nbsp;&nbsp; NYLIM-Jacob Ballas Asset Management Co. III, LLC | (Mauritius) | (24.66%)5 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; NYLIM Jacob Ballas India Fund III LLC | (Mauritius) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; NYLIM Jacob Ballas India (FVCI) III LLC | (Mauritius) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; NYLIM Jacob Ballas India (FII) III LLC | (Mauritius) |  |
| &nbsp;&nbsp;&nbsp; Evolvence Asset Management, Ltd. | (Cayman Islands) | (Apogem: 24.5%) |
| &nbsp;&nbsp;&nbsp;&nbsp; EIF Managers Limited | (Mauritius) | (58.72%) |
| &nbsp;&nbsp;&nbsp;&nbsp; EIF Managers II Limited | (Mauritius) | (55%) |
| &nbsp;&nbsp;&nbsp; AHF V ECI Aggregator LP | (Delaware) | (1%) |
| &nbsp;&nbsp;&nbsp; AHF V GenPar GP LLC | (Delaware) | (100%) |
| &nbsp;&nbsp;&nbsp; AHF V GenPar LP | (Delaware) | (1%) |
| &nbsp;&nbsp;&nbsp; AHF VI ECI Aggregator LP | (Delaware) | (1%) |
| &nbsp;&nbsp;&nbsp; AHF VI GenPar GP LLC | (Delaware) | (100%) |
| &nbsp;&nbsp;&nbsp; AHF VI GenPar LP | (Delaware) | (100%) |
| &nbsp;&nbsp;&nbsp; Apogem Heritage Fund V LP | (Delaware) | (1%) |
| &nbsp;&nbsp;&nbsp; Apogem Heritage Fund VI LP | (Delaware) | (1%) |
| &nbsp;&nbsp;&nbsp; Apogem Cardinal Co-Investment GP LLC | (Delaware) |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Apogem Cardinal Co-Investment Fund, LP | (Delaware) |  |
| &nbsp;&nbsp;&nbsp; ARAF IV GP, LLC | (Delaware) |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Apogem Real Assets Fund IV, LP | (Delaware) |  |
| &nbsp;&nbsp;&nbsp; ASF VII GP, LLC | (Delaware) |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Apogem Secondary Fund VII, LP | (Delaware) |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Apogem Secondary Fund VII Coinvestments, LP | (Delaware) |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Apogem Secondary Fund VII (Cayman) LP | (Cayman Islands) |  |
| &nbsp;&nbsp;&nbsp; BFO GP, LLC | (Delaware) |  |
| &nbsp;&nbsp;&nbsp;&nbsp; BFO Apogem Private Markets LP | (Delaware) |  |
| &nbsp;&nbsp;&nbsp; Tetra Opportunities Partners | (Delaware) | (DE Series) |
| &nbsp;&nbsp;&nbsp; BMG PAPM GP, LLC | (Delaware) |  |
| &nbsp;&nbsp;&nbsp;&nbsp; BMG PA Private Markets (Delaware) LP | (Delaware) |  |
| &nbsp;&nbsp;&nbsp;&nbsp; BMG Private Markets (Cayman) LP | (Cayman Islands) |  |
| &nbsp;&nbsp;&nbsp; Private Advisors Special Situations LLC | (Delaware)<sup>7</sup> <br>|  |
| &nbsp;&nbsp;&nbsp; PACD MM, LLC | (Delaware) |  |
| &nbsp;&nbsp;&nbsp;&nbsp; PA Capital Direct, LLC | (Delaware)<sup>7</sup> <br>|  |
| &nbsp;&nbsp;&nbsp;&nbsp; ApCap Strategic Partnership I LLC | (Delaware) |  |
| &nbsp;&nbsp;&nbsp; PA Credit Program Carry Parent, LLC | (Delaware) |  |
| &nbsp;&nbsp;&nbsp;&nbsp; PA Credit Program Carry, LLC | (Delaware) |  |
| &nbsp;&nbsp;&nbsp; PACIF GP, LLC | (Delaware) |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Private Advisors Coinvestment Fund, LP | (Delaware) |  |
| &nbsp;&nbsp;&nbsp; PACIF II GP, LLC | (Delaware) |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Private Advisors Coinvestment Fund II, LP | (Delaware) |  |
| &nbsp;&nbsp;&nbsp; PACIF II Carry Parent, LLC | (Delaware) |  |
| &nbsp;&nbsp;&nbsp;&nbsp; PACIF II Carry, LLC | (Delaware) |  |

---

------

---

| | | |
|:---|:---|:---|
| **Name** | &nbsp;&nbsp; **Jurisdiction of**<br> **Organization**<br>| &nbsp;&nbsp; **Percent of Voting**<br> **Securities Owned**<br>|
| &nbsp;&nbsp;&nbsp; PACIF III GP, LLC | (Delaware) |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Private Advisors Coinvestment Fund III, LP | (Delaware) |  |
| &nbsp;&nbsp;&nbsp; PACIF III Carry Parent, LLC | (Delaware) |  |
| &nbsp;&nbsp;&nbsp;&nbsp; PACIF III Carry, LLC | (Delaware) |  |
| &nbsp;&nbsp;&nbsp; PACIF IV GP, LLC | (Delaware) |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Private Advisors Coinvestment Fund IV, LP | (Delaware) |  |
| &nbsp;&nbsp;&nbsp; PACIF IV Carry Parent, LLC | (Delaware) |  |
| &nbsp;&nbsp;&nbsp;&nbsp; PACIF IV Carry, LLC | (Delaware) |  |
| &nbsp;&nbsp;&nbsp; PAMMF GP, LLC | (Delaware) |  |
| &nbsp;&nbsp;&nbsp;&nbsp; PA Middle Market Fund, LP | (Delaware) |  |
| &nbsp;&nbsp;&nbsp; PASCBF IV GP, LLC | (Delaware) |  |
| &nbsp;&nbsp;&nbsp; PASCBF V GP, LLC | (Delaware) |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Private Advisors Small Company Buyout Fund V, LP | (Delaware) |  |
| &nbsp;&nbsp;&nbsp; PASCPEF VI Carry Parent, LLC | (Delaware) |  |
| &nbsp;&nbsp;&nbsp;&nbsp; PASCPEF VI Carry, LLC | (Delaware) |  |
| &nbsp;&nbsp;&nbsp; PASCPEF VI GP, LLC | (Delaware) |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Private Advisors Small Company Private Equity Fund <br> VI, LP<br>| (Delaware) |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Private Advisors Small Company Private Equity Fund <br> VI (Cayman), LP<br>| (Cayman Islands) |  |
| &nbsp;&nbsp;&nbsp; PASCPEF VII GP, LLC | (Delaware) |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Private Advisors Small Company Private Equity Fund <br> VII, LP<br>| (Delaware) |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Private Advisors Small Company Private Equity Fund <br> VII (Cayman), LP<br>| (Cayman Islands) |  |
| &nbsp;&nbsp;&nbsp; PASCPEF VII Carry Parent, LLC | (Delaware) |  |
| &nbsp;&nbsp;&nbsp;&nbsp; PASCPEF VII Carry, LLC | (Delaware) |  |
| &nbsp;&nbsp;&nbsp; PASCPEF VIII GP, LLC | (Delaware) |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Private Advisors Small Company Private Equity Fund <br> VIII, LP<br>| (Delaware) |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Private Advisors Small Company Private Equity Fund <br> VIII (Cayman), LP<br>| (Cayman Islands) |  |
| &nbsp;&nbsp;&nbsp; PASCPEF IX GP, LLC | (Delaware) |  |
| &nbsp;&nbsp;&nbsp;&nbsp; PA Small Company Private Equity Fund IX, LP | (Delaware) |  |
| &nbsp;&nbsp;&nbsp;&nbsp; PA Small Company Private Equity Fund IX, (Cayman), <br> LP<br>| (Cayman Islands) |  |
| &nbsp;&nbsp;&nbsp; APEF X GP, LLC | (Delaware) |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Apogem Private Equity Fund X, LP fka [PA] Private <br> Equity Fund X, LP<br>| (Delaware) |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Apogem Private Equity Fund X (Cayman) LP | (Cayman Islands) |  |
| &nbsp;&nbsp;&nbsp; APEF XI GP, LLC | (Delaware) |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Apogem Private Equity Fund XI (Cayman) LP | (Cayman Islands) |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Apogem Private Equity Fund XI, LP | (Delaware) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; APEF XI Multi-Asset, LP | (Delaware) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; APEF XI Directs, LP | (Delaware) |  |
| &nbsp;&nbsp;&nbsp; Cuyahoga Capital Partners IV Management Group LLC | (Delaware) |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Cuyahoga Capital Partners IV LP | (Delaware) |  |
| &nbsp;&nbsp;&nbsp; Cuyahoga Capital Emerging Buyout Partners <br> Management Group LLC<br>| (Delaware) |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Cuyahoga Capital Emerging Buyout Partners LP | (Delaware) |  |
| &nbsp;&nbsp;&nbsp; PA Real Assets Carry Parent, LLC | (Delaware) |  |
| &nbsp;&nbsp;&nbsp;&nbsp; PA Real Assets Carry, LLC | (Delaware) |  |

---

------

---

| | | |
|:---|:---|:---|
| **Name** | &nbsp;&nbsp; **Jurisdiction of**<br> **Organization**<br>| &nbsp;&nbsp; **Percent of Voting**<br> **Securities Owned**<br>|
| &nbsp;&nbsp;&nbsp; PA Real Assets Carry Parent II, LLC | (Delaware) |  |
| &nbsp;&nbsp;&nbsp;&nbsp; PA Real Assets Carry II, LLC | (Delaware) |  |
| &nbsp;&nbsp;&nbsp; PA Emerging Manager Carry Parent, LLC | (Delaware) |  |
| &nbsp;&nbsp;&nbsp;&nbsp; PA Emerging Manager Carry, LLC | (Delaware) |  |
| &nbsp;&nbsp;&nbsp; PA Emerging Manager Carry Parent II, LLC | (Delaware) |  |
| &nbsp;&nbsp;&nbsp;&nbsp; PA Emerging Manager Carry II, LLC | (Delaware) |  |
| &nbsp;&nbsp;&nbsp; RIC I GP, LLC | (Delaware) |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Richmond Coinvestment Partners I, LP | (Delaware) |  |
| &nbsp;&nbsp;&nbsp; RIC I Carry Parent, LLC | (Delaware) |  |
| &nbsp;&nbsp;&nbsp;&nbsp; RIC I Carry, LLC | (Delaware) |  |
| &nbsp;&nbsp;&nbsp; PASF V GP, LLC | (Delaware) |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Private Advisors Secondary Fund V, LP | (Delaware) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ABC Burgers LLC | (Delaware) |  |
| &nbsp;&nbsp;&nbsp;&nbsp; PASF V Carry, LLC | (Delaware) |  |
| &nbsp;&nbsp;&nbsp; PASF V Carry Parent, LLC | (Delaware) |  |
| &nbsp;&nbsp;&nbsp; PASF VI GP, LLC | (Delaware) |  |
| &nbsp;&nbsp;&nbsp;&nbsp; PA Secondary Fund VI, LP | (Delaware) |  |
| &nbsp;&nbsp;&nbsp;&nbsp; PA Secondary Fund VI Coinvestments, LP | (Delaware) | (68.14%) |
| &nbsp;&nbsp;&nbsp;&nbsp; PA Secondary Fund VI (Cayman), LP | (Cayman Islands) | (68.14%) |
| &nbsp;&nbsp;&nbsp; PARAF GP, LLC | (Delaware) |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Private Advisors Real Assets Fund, LP | (Delaware) |  |
| &nbsp;&nbsp;&nbsp; PARAF Carry Parent, LLC | (Delaware) |  |
| &nbsp;&nbsp;&nbsp;&nbsp; PARAF Carry, LLC | (Delaware) |  |
| &nbsp;&nbsp;&nbsp; PASCCIF GP, LLC | (Delaware) |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Private Advisors Small Company Coinvestment Fund, <br> LP<br>| (Delaware) |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Private Advisors Small Company Coinvestment <br> Fund-ERISA, LP<br>| (Delaware) |  |
| &nbsp;&nbsp;&nbsp; PASCCIF II GP, LLC | (Delaware) |  |
| &nbsp;&nbsp;&nbsp;&nbsp; PA Small Company Coinvestment Fund II, LP | (Delaware) |  |
| &nbsp;&nbsp;&nbsp;&nbsp; PA Small Company Coinvestment Fund II (Cayman), <br> LP<br>| (Cayman Islands) |  |
| &nbsp;&nbsp;&nbsp; PASCCIF Carry Parent, LLC | (Delaware) |  |
| &nbsp;&nbsp;&nbsp;&nbsp; PASCCIF Carry, LLC | (Delaware) |  |
| &nbsp;&nbsp;&nbsp; PARAF II GP, LLC | (Delaware) |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Private Advisors Real Assets Fund II, LP | (Delaware) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; PA Contract Resources, LLC | (Delaware) |  |
| &nbsp;&nbsp;&nbsp; PARAF III GP, LLC | (Delaware) |  |
| &nbsp;&nbsp;&nbsp;&nbsp; PA Real Assets Fund III, LP | (Delaware) |  |
| &nbsp;&nbsp;&nbsp; SAF GP LLC | (Delaware) |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Social Advancement Fund, LP | (Delaware) |  |
| &nbsp;&nbsp;&nbsp; Washington Pike GP, LLC | (Delaware) |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Washington Pike, LP | (Delaware) |  |
| &nbsp;&nbsp;&nbsp; RLP Fund GP, LLC | (Delaware) |  |
| &nbsp;&nbsp;&nbsp;&nbsp; RLP Fund, LP ("RLPLP") | (Delaware) |  |
| &nbsp;&nbsp;&nbsp;&nbsp; RidgeLake Co-Investment Partners, LP ("RLPCOLP") | (Delaware) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; RLP Glacier Manager Investor LLC | (Delaware) | (RLPLP: 72%, RLPCOLP: 28%) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; RLP Glacier GP Investor LLC | (Delaware) | (RLPLP: 72%, RLPCOLP: 28%) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; RLP Evergreen LLC | (Delaware) | (RLPLP: 72%, RLPCOLP: 28%) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; RLP Gemini LLC | (Delaware) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; RLP Navigator LLC | (Delaware) |  |

---

------

---

| | |
|:---|:---|
| **Name** | &nbsp;&nbsp; **Percent of Voting**<br> **Securities Owned**<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; RLP Sigma LLC<br> (Delaware) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; RLP Sunrise GP Investor LLC<br> (Delaware) | &nbsp;&nbsp; (RLPLP: 83.33%, RLPCOLP: <br> 16.66%)<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; RLP Sunrise Manager Investor LLC<br> (Delaware) | &nbsp;&nbsp; (RLPLP: 83.33%, RLPCOLP: <br> 16.66%)<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; RLP Triple GP Investor LLC<br> (Delaware) | &nbsp;&nbsp; (RLPLP: 82.01%, RLPCOLP: <br> 17.98%)<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; RLP Triple Manager Investor LLC<br> (Delaware) | &nbsp;&nbsp; (RLPLP: 82.01%, RLPCOLP: <br> 17.98%)<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; RLP Fund II GP LLC<br> (Delaware) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; RLP Fund II LP<br> (Delaware) |  |
| &nbsp;&nbsp;&nbsp; RLP Profit Share (PA), LLC<br> (Delaware) | (NYLIC: 51%, Employees: 49%) |
| &nbsp;&nbsp;&nbsp; RLP Profit Share (OAPC), LLC<br> (Delaware) | (TP: 100%) |
| &nbsp;&nbsp;&nbsp; The Hedged Strategies Fund LLC<br> (Delaware) | &nbsp;&nbsp; (Apogem: 2%, Ex-employees: 98% <br> non-managing members)<br>|
| &nbsp;&nbsp; NYLCAP Holdings (Mauritius) |  |
| &nbsp;&nbsp;&nbsp; Jacob Ballas India Private Limited<br> (Mauritius) | (23.30%) |
| &nbsp;&nbsp;&nbsp; Industrial Assets Holdings Limited<br> (Mauritius) | (28.02%) |
| &nbsp;&nbsp;&nbsp; JB Cerestra Investment Management LLP<br> (Mauritius) |  |
| &nbsp;&nbsp; NYLIM Service Company LLC<br> (Delaware) |  |
| &nbsp;&nbsp; NYL Workforce GP LLC<br> (Delaware) |  |
| &nbsp;&nbsp; New York Life Investment Management LLC<br> (Delaware) |  |
| &nbsp;&nbsp;&nbsp; NYLIM Fund II GP, LLC<br> (Delaware) |  |
| &nbsp;&nbsp;&nbsp; WFHG GP, LLC<br> (Delaware) | (50%) |
| &nbsp;&nbsp;&nbsp;&nbsp; Workforce Housing Fund I-2007 LP<br> (Delaware) | (50%) |
| &nbsp;&nbsp; IndexIQ Holdings LLC<br> (Delaware) | ("IQ Holdings") |
| &nbsp;&nbsp; IndexIQ LLC<br> (Delaware) | &nbsp;&nbsp; (NYLIMH: 74.37%, IQHoldings: <br> 25.63%)<br>|
| &nbsp;&nbsp;&nbsp; IndexIQ Trust<br> (Delaware) | (Dormant) |
| &nbsp;&nbsp;&nbsp; IndexIQ Advisors LLC<br> (Delaware) |  |
| &nbsp;&nbsp;&nbsp; New York Life Investments Active ETF Trust<br> (Delaware)<sup>7</sup> <br>| (NYLIAC: 98.5%) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; NYLI CBRE Real Assets ETF | (NYLIM: 82.10%) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; NYLI MacKay Muni Insured ETF | (NYL: 0.00%) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; NYLI MacKay Muni Intermediate ETF | (NYL: 0.00%) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; NYLI MacKay Core Plus Bond ETF | (NYLIM: 93.07%) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; NYLI MacKay California Muni Intermediate ETF | (NYLIM: 14.70%; NYLIAC: 36.60%) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; NYLI MacKay ESG High Income ETF | (NYLIM: 98.90%) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; NYLI Winslow Focused Large Gap Growth ETF | (NYLIM: 78.00%) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; NYLI Winslow Large Gap Growth ETF | (NYLIM: 18.20%) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; NYLI MacKay Securitized Income ETF | (NYLIM: 78.10%, NYLIAC: 16.00%) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; NYLI MacKay Muni Short Duration ETF | (NYLIAC: 86.90%) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; NYLI MacKay Muni Allocation ETF | (NYLIM: 99.60%) |
| &nbsp;&nbsp;&nbsp;&nbsp; New York Life Investments ETF Trust<br> (Delaware) | (NYLIC: 10.2%) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; NYLI 500 International ETF | (NYLIM: 53.62%) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; NYLI Engender Equality ETF | (NYLIAC: 72.81%) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; NYLI FTSE International Equity Currency Neutral <br> ETF<br>| (NYLIM: 8.97%) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; NYLI Global Equity R&D Leaders ETF | (NYLIM: 84.30%) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; NYLI Healthy Hearts ETF | (NYLIM: 66.50%) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; NYLI Hedge Multi-Strategy Tracker ETF | (NYL: 0.00%) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; NYLI Merger Arbitrage ETF | (NYL: 0.00%) |

---

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| | |
|:---|:---|
| **Name** | &nbsp;&nbsp; **Percent of Voting**<br> **Securities Owned**<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; NYLI CRBE NexGen Real Estate ETF | (NYLIM: 56.52%) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; NYLI Candriam International Equity ETF | (NYLIM: 77.90%) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; NYLI Candriam U.S. Mid Cap Equity ETF | (NYLIM: 96.70%) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; NYLI Candriam U.S. Large Cap Equity ETF | (NYLIM: 86.40%) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; NYLI U.S. Large Cap R&D Leaders ETF | (NYLIM: 95.90%) |
| &nbsp;&nbsp; New York Life Investment Management Holdings <br> International<br>(Luxembourg) |  |
| &nbsp;&nbsp;&nbsp;&nbsp; New York Life Investment Management Holdings II <br> International<br>(Luxembourg) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Candriam Group ("CG")<br> (Luxembourg) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; KTA Holdco<br> (Luxembourg) | &nbsp;&nbsp; (CANLUX: 66.67%, Apogem: <br> 33.33%)<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Kartesia Management S.a.r.l.<br> (Luxembourg) | (80%) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Kartesia Italy Branch<br> (Scotland) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Kartesia Spain Branch<br> (Scotland) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Kartesia Netherlands Branch<br> (Scotland) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Kartesia Germany Branch<br> (Scotland) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Kartesia France<br> (France) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Kartesia UK Ltd.<br> (UK) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Kartesia Belgium<br> (Belgium) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Kartesia Credit FFS<br> (France) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Kartesia GP III<br> (Luxembourg) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Kartesia Credit Opportunities III S.C.A., <br> SICAV-SIF<br>(Luxembourg) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Kartesia Securities<br> (Luxembourg) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Kartesia III Topco S.á.r.l.<br> (Luxembourg) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Kartesia GP IV<br> (Luxembourg) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Kartesia Credit Opportunities IV SCS SICAV-SIF<br> (Luxembourg) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Kartesia Securities IV<br> (Luxembourg) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Kartesia IV Topco S.á.r.l.<br> (Luxembourg) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Kartesia Master GP<br> (Luxembourg) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Kartesia Credit Opportunities V Feeder SCS<br> (Luxembourg) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Kartesia Senior Opportunities I SCS, SICAV-RAIF<br> (Luxembourg) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; KASS Unleveled S.á.r.l.<br> (Luxembourg) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; KSO I Topco S.á.r.l.<br> (Luxembourg) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Kartesia Credit Opportunities V SCS<br> (Luxembourg) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Kartesia Securities V S.á.r.l.<br> (Luxembourg) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Kartesia Credit Opportunities VI Feeder SCS<br> (Luxembourg) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Kartesia Credit Opportunities VI SCS<br> (Luxembourg) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Kartesia Securities VI SCS S.á.r.l.<br> (Luxembourg) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Kartesia VI Topco S.á.r.l.<br> (Luxembourg) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Flexam Invest Asset Management<br> (France) | (51%) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; FIAM HLD SAS<br> (France) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Flexam Invest France Management SAS<br> (France) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Flexam Tangible Asset Income Fund II SLP<br> (France) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Flexam Invest Lux Management S.á.r.l.<br> (Luxembourg) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Flexam Tangible Asset Income Fund S.C.A., <br> SICAV-RAIF<br>(Luxembourg) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Flexam Invest Operations S.á.r.l.<br> (Luxembourg) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Candriam Luxco S.a.r.l.<br> (Luxembourg) | ("CANLUXS") |

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| | | |
|:---|:---|:---|
| **Name** | &nbsp;&nbsp; **Jurisdiction of**<br> **Organization**<br>| &nbsp;&nbsp; **Percent of Voting**<br> **Securities Owned**<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Candriam | (Luxembourg) | &nbsp;&nbsp; ("CANLUX") (CG: 64%; I share held <br> by CANLUXS)<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Candriam Belgian Branch |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Candriam France Branch |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Candriam UK Establishment |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Candriam Germany Branch |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Candriam US Branch |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Candriam Spain Branch |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Candriam Netherlands Branch | (Luxembourg) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Candriam MENA Branch | (Dubai, UAE) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Candriam Nordic Branch | (Sweden) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Candriam Monétaire SICAV | (France) | (CIG: 0.10%) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Candriam Switzerland LLC | (Switzerland) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Candriam GP | (Luxembourg) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Candriam Tristan Real Estate Fund (RAIF) | (Luxembourg) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Candriam GP PA | (Luxembourg) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Candriam Private Assets | (Luxembourg) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Candriam Private Assets – Kartesia Credit <br> ELTIF<br>| (Luxembourg) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ATA Holdco Luxembourg S.á.r.l. | (Luxembourg) | &nbsp;&nbsp; (Candriam: 66.7%, Apogem Capital <br> LLC: 33.3%)<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Andera Partners | (France) | (ATA Holdco: 40%) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Andera Expansion GP | (France) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Andera Expansion 3 S.L.P. | (France) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ANDERA EXPANSION 4 S.L.P | (France) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Andera Smart Infra GP | (France) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ANDERA SMART INFRA 1 S.L.P | (France) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ANDERA SMART INFRA 2 S.L.P | (France) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ANDERA SMART INFRA REMPLOI <br> S.L.P<br>| (France) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Terra Nea 1 GP | (France) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; TERRA NEA 1 SLP | (France) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Andera MidCap GP | (France) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Andera MidCap GP 5 S.L.P. | (France) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Andera MidCap GP 6 S.L.P.S. | (France) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Acto V GP | (France) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ACTO V S.L.P. | (France |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ACI GP | (France |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ACI II S.L.P. | (France) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ACI Vintage II S.L.P. | (France) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ACI Vintage III S.L.P. | (France) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ACI I, SCA SICAV-FIAR | (Luxembourg) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Rio Holding Secondary | (France) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Andera Partners España SL | (Spain) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Belfius Fund | (Luxembourg) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Belfius Fund Target Income 2032 |  | (0.00%) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Belfius Equities | (Belgian) | (0.00%) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; IZNES SAS | (Luxembourg) | (2%) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Belfius Investment Partners | (Luxembourg) | (0.01%) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; S.W.I.F.T. SCRL | (Luxembourg) | (0.02%) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Cordius | (Luxembourg) | (CANLUX: 11.50%) |

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| | |
|:---|:---|
| **Name** | &nbsp;&nbsp; **Percent of Voting**<br> **Securities Owned**<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Cordius CIG | (CANLUX: 100%) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Candriam Absolute Return<br> (Luxembourg) | (CIG: 0.35%) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Candriam Absolute Return Equity Market Neutral<br> (Lux) | (0.00%) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Candriam Bonds<br> (Luxembourg) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Candriam Bonds Capital Securities | (CIG: .0.001%) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Candriam Bonds Convertible Defensive | (0.00%) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Candriam Bonds Convertible Opportunities | (0.00%) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Candriam Bonds Credit Alpha | (0.00%) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Candriam Bonds Credit Opportunities | (0.00%) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Candriam Bonds Emerging Debt Local <br> Currencies<br>| (CIG: 0.01%) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Candriam Bonds Emerging Markets | (0.01%) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Candriam Bonds Emerging Corporate | (CIG: 0.02%) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Candriam Bonds Emerging Markets Total Return | (CIG: 0.01%) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Candriam Bonds Euro | (0.00%) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Candriam Bonds Euro Corporate | (0.00%) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Candriam Bonds Euro Corporate 2036 | (CIG: 0.02%) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Candriam Bonds Euro Corporate Ex Financials | (0.00%) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Candriam Bonds Euro Diversified | (0.00%) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Candriam Bonds Euro Government | (0.00%) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Candriam Bonds Euro High Yield | (CIG: 0.08%) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Candriam Bonds Euro Short Term | (0.00%) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Candriam Bonds Euro Long Term | (CIG: 0.02%) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Candriam Bonds Floating Rate Notes | (0.00%) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Candriam Bonds Global Government | (0.00%) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Candriam Bonds Global High Yield | (0.00%) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Candriam Bonds Global Inflation Short Duration | (0.00%) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Candriam Bonds Global Sovereign Quality | (0.00%) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Candriam Bonds International | (CIG: 0.02%) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Candriam Bonds Total Return | (CIG: 0.01%) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Candriam Bonds US Corporate | (CIG: 0.00%) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Candriam Business Equities<br> (Belgium) | (0.00%) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Candriam Business Equities EMU | (0.00%) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Candriam Business Equities Global Income | (0.00%) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Candriam Diversified Futures | (CIG: 0.02%) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Candriam Equities L<br> (Luxembourg) | (NYLIAC: 0.35%; CIG: 0.02%) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Candriam Equities L Qustralia | (CIG: 0.01%) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Candriam Equities L Biotechnology | (0.00%) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Candriam Equities L Emerging Markets | (0.00%) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Candriam Equities L EMU | (CIG: 0.02%) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Candriam Equities L ESG Market Neutral Edge | (NYLIAC: 95.86%; CIG: 0.03%) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Candriam Equities L Europe | (CIG: 0.02%) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Candriam Equities L Europe Edge | (CIG: 0.01%) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Candriam Equities L Europe Innovation | (0.01%) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Candriam Equities L Europe Optimum Quality | (CIG: 0.01%) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Candriam Equities L European Autonomy | (CIG: 100%) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Candriam Equities L Global Demography | (0.00%) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Candriam Equities L Global Income | (CIG: 0.04%) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Candriam Equities L Japan Edge | (CIG: 0.01%) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Candriam Equities L Life Care | (0.00%) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Candriam Equities Merger Arbitrage | (CIG: 0.02%) |

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| | |
|:---|:---|
| **Name** | &nbsp;&nbsp; **Percent of Voting**<br> **Securities Owned**<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Candriam Equities L Oncology Impact | (0.00%) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Candriam Equities L Risk Arbitrage Opportunities | (CIG: 0.03%) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Candriam Equities L Robotics & Innovation <br> Technology<br>| (0.00%) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Candriam Equities L US Edge | (CIG: 0.00%) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Candriam Equities L World Edge | (NYLIAC: 60.69%; CIG: 0.03%) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Candriam Fund<br> (Luxembourg) | (0.00%) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Candriam Fund Sustainable Euro Corporate <br> Bonds Fossil Free<br>| (0.00%) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Candriam Fund Sustainable European Equities <br> Fossil Free<br>| (0.00%) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Candriam Impact One<br> (Luxembourg) | (NYLIAC: 30.62%) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Candriam Index Arbitrage<br> (Luxembourg) | (0.00%) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Candriam L<br> (Luxembourg) | (CIG: .01%) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Candriam L Alternative Multi-Strategies | (CIG: .04%) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Candriam L Balanced Asset Allocation | (0.00%) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Candriam L Conservative Asset Allocation | (0.00%) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Candriam L Dynamic Asset Allocation | (CIG: .15%) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Candriam L Multi-Asset Income | (0.00%) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Candriam L Multi-Asset Income & Growth | (CIG: 0.01%) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Candriam Long Short Credit | (0.00%) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Candriam M | (CIG: 12.27%) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Candriam M Impact Finance | (CIG: 12.27%) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Candriam Money Market<br> (Luxembourg) | (CIG: 0.29%) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Candriam Money Market Euro | (CIG: 0.15%) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Candriam Money Market Euro AAA | (0.44%) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Candriam Money Market USD Sustainable | (CIG: 0.00%) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Candriam Patrimoine Obli-Inter<br> (Luxembourg) | (0.00%) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Candriam Private Assets | (NYLIAC: 78.74%) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Candriam Private Assets – Kartesia Credit | (NYLIAC: 78.74%) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Candriam Risk Arbitrage<br> (Luxembourg) | (CIG: 9.03%) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Candriam Sustainable<br> (Luxembourg) | (CIG: 0.02%) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Candriam Sustainable Bond Emerging Markets | (0.00%) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Candriam Sustainable Bond Euro | (0.00%) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Candriam Sustainable Bond Euro Corporate | (0.00%) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Candriam Sustainable Bond Euro Short Term | (0.00%) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Candriam Sustainable Bond Global | (CIG: 0.04%) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Candriam Sustainable Bond Global High Yield | (0.00%) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Candriam Sustainable Bond Impact | (NYLIAC: 5.89%) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Candriam Sustainable Defensive Asset Allocation | (CIG: 0.01%) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Candriam Sustainable Equity Children | (CIG: 0.01%) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Candriam Sustainable Equity Circular Economy | (0.00%) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Candriam Sustainable Equity Climate Action | (0.00%) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Candriam Sustainable Emerging Markets | (0.00%) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Candriam Sustainable Emerging Markets <br> Ex-China<br>| (CIG: 0.01%) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Candriam Sustainable Equity EMU | (0.00%) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Candriam Sustainable Equity Europe | (0.00%) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Candriam Sustainable Equity Europe Small & <br> Mid Caps<br>| (CIG: 0.01%) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Candriam Sustainable Equity Future Mobility | (CIG: 0.01%) |

---

------

---

| | | |
|:---|:---|:---|
| **Name** | &nbsp;&nbsp; **Jurisdiction of**<br> **Organization**<br>| &nbsp;&nbsp; **Percent of Voting**<br> **Securities Owned**<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Candriam Sustainable Equity Equity Japan |  | (0.00%) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Candriam Sustainable Equity Quant Europe |  | (0.00%) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Candriam Sustainable Equity US |  | (CIG: 0.01%) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Candriam Sustainable Equity Water |  | (CIG: 90.07%) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Candriam Sustainable Equity World |  | (0.00%) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Candriam Sustainable Money Market Euro |  | (0.00%) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Candriam World Alternative | (Luxembourg) | (CIG: 13.14%) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Candriam World Alternative Alphamax |  | (CIG: 13.16%) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Cleome Index | (Luxembourg) | (0.00%) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Cleome Index EMU Equities |  | (0.00%) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Cleome Index Euro Corporate Bonds |  | (0.00%) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Cleome Index Euro Government Bonds |  | (0.00%) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Cleome Index Euro Long Term Bonds |  | (0.14%) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Cleome Index Euro Short Term Bonds |  | (CIG: 0.01%) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Cleome Index Europe Equities |  | (0.00%) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Cleome Index USA Equities |  | (0.00%) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Cleome Index World Equities |  | (CIG: 0.01%) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; NYLI GF | (Luxembourg) | &nbsp;&nbsp; (NYLIMH: 16.61%; NYLIAC: 27.84%; <br> CIG: 0.02%)<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; NYLI GF AUSBIL Global Essential Infrastructure |  | (NYLIMH: 12.23%; NYLIAC: 49.47%) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; NYLI GF AUSBIL Global Small Cap |  | (NYLIMH: 99.15%; CIG: 0.02%) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; NYLI GF US High Yield Corporate Bonds |  | (NYLIMH: 0.00%; CIG: 0.04%) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Paricor | (Belgium) | (CIG: 0.07%) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Paricor Patrimonium | (Belgium) | (CIG: 0.07%) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; IndexIQ |  | (CIG: 0.48%) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; IndexIQ Factors Sustainable Corporate Euro <br> Bond<br>|  | (CIG: 0.48%) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; IndexIQ Factors Sustainable Europe Equity |  | (CIG: 0.63%) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; IndexIQ Factors Sustainable Japane Equity |  | (CIG: 0.26%) |
| &nbsp;&nbsp;&nbsp; CGH UK Acquisition Company Limited | (UK) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Tristan (Holdings) Limited | (UK) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; EPISO 3 Feeder (GP) Limited | (Scotland) | (40%) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; EPISO 3 Feeder LP | (Scotland) |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Tristan Equity Partners (GP) Limited | (UK) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Tristan Equity Partners LP | (UK) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Tristan Capital Partners Holdings Limited ("TCPH") | (England & Wales) | (80%) (Tristan Partners LP: 20%) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; EPISO 3 Co-Investment (GP) Limited | (Scotland) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; EPISO 3 Co-Investment LP | (Scotland) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; TIPS One Co-Investment GP Sarl | (Luxembourg) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; TIPS Co-Investment SCSp | (Luxembourg) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; TCP Incentive Partners (GP) Sarl | (Luxembourg) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; TCP Incentive Partners SCSp | (Luxembourg) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; TCP Co-Investment (GP) Sarl | (Luxembourg) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; TCP Co-Investment SCSp | (Luxembourg) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; CCP III Co-Investment (GP) Limited | (Scotland) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; CCP III Co-Investment LP | (United Kingdom) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; CCP IV Co-Investment LP | (Scotland) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; EPISO 4 Co-Investment LLP | (United Kingdom) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; EPISO 4 (GP) LLP | (United Kingdom) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; EPISO 4 Incentive Partners LLP | (England & Wales) | (4.7%) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; CCP 5 Co-Investment LLP | (England & Wales) | (100%) |

---

------

---

| | | |
|:---|:---|:---|
| **Name** | &nbsp;&nbsp; **Jurisdiction of**<br> **Organization**<br>| &nbsp;&nbsp; **Percent of Voting**<br> **Securities Owned**<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Tristan Capital Limited | (England & Wales) | (100%) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Tristan Capital Partners LLP | (England & Wales) | &nbsp;&nbsp; (80%; CGH 0.5%; 19% other <br> members)<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; CCP III (GP) LLP | (England & Wales) | (50%) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; CCP III Incentive Partners (GP) Limited | (Scotland) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; CCP III Incentive Partners LP | (Scotland) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Curzon Capital Partners III (GP) Limited | (England & Wales) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; CCP III (GP) LLP | (England & Wales) | (99%, 1% held by TCP LLP) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Curzon Capital Partners III LP | (LUX) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Curzon Capital Partners IV GP Limited | (United Kingdom) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; CCP IV (GP) LLP | (United Kingdom) | (99%, 1% held by TCP LLP) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Curzon Capital Partners IV LP | (United Kingdom) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Curzon Capital Partners IV S.a.r.l. | (LUX) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; CCP IV Bolt FinCo S.a.r.l. | (LUX) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Curzon IV IREF 1 Holding Sarl | (LUX) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; CCP IV IREF 1 | (ITA) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; CCP IV Bolt 1 Sarl | (LUX) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Stratford City Offices Jersey Unit |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Bolt Nominee 1 Limited | (UK) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Bolt Nominee 2 Limited | (UK) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; CCP IV Bolt 2 Sarl | (LUX) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; CCP IV Erneside Holding Sarl | (LUX) | (99.99976%) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; CCP IV France Investments Sarl | (LUX) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; OPPCI CCP IV France Investments | (FRA) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; SCI Escape Cordeliers | (FRA) | &nbsp;&nbsp; (1 share held by CCP IV France <br> Investments Sarl)<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The Forum, Solent, Management Company <br> Limited<br>| (UK) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; SBP Management Limited | (UK) | (27.83%) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; CCP IV (GP) S.á.r.l. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; CCP IV Keirin Luxembourg S.á.r.l. | (LUX) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; CCP IV SCSp | (LUX) | (74%) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Keirin Holding S.á.r.l. | (LUX) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; CCP IV UK Holding S.á.r.l. | (LUX) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Cardiff Gate RP Limited | (LUX) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Rotherham Foundry RP Limited | (LUX) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Warrington Riverside RP Limited | (LUX) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Birmingham Ravenside RP Limited | (LUX) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Walsall Bescot RP Limited | (LUX) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; RW Sofas Limited | (LUX) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Bangor Springhill RP Limited | (LUX) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; EPISO 3 Incentive Partners (GP) Limited | (Scotland) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; EPISO 3 Incentive Partners LP | (Scotland) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; EPISO 3 (GP) LLP | (United Kingdom) | (64%) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; European Property Investors Special <br> Opportunities 3 LP<br>| (UK) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; EPISO 3 L.P. | (UK) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; EPISO 3 Luxembourg Holding Sarl | (LUX) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; EPISO 3 Wave Holding Sarl | (LUX) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; EPISO 4 (GP) II Sarl | (Luxembourg) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; EPISO 4 Student Housing SCSp | (Luxembourg) |  |

---

------

---

| | | |
|:---|:---|:---|
| **Name** | &nbsp;&nbsp; **Jurisdiction of**<br> **Organization**<br>| &nbsp;&nbsp; **Percent of Voting**<br> **Securities Owned**<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; EPISO 4 (GP) LLP | (United Kingdom) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; European Property Investors Special <br> Opportunities 4 LP<br>| (UK) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; EPISO 4 Caesar Holding Sarl | (LUX) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Trophy Value Added Fund | (Italy) | (74.15%) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; EPISO 4 Luxembourg Holding Sarl | (LUX) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; EP Office 1 Spzoo | (POL) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; EP Office 2 Spzoo | (POL) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; EP Retail Spzoo | (POL) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; EP Apartments Spzoo | (POL) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; EP Hotel Spzoo | (POL) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; EPISO 4 Twilight GP Limited | (UK) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; EPISO 4 Twilight LP | (UK) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Twilight Ireland PRS Properties Eclipse <br> DAC<br>| (IRL) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; EPISO 4 West Holding Sarl | (LUX) | (97.5%) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; EPISO 4 Atrim Sarl | (LUX) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; EPISO 4 Banbridge Sarl | (LUX) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; EPISO 4 France Investments Sarl | (LUX) | (90%) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; OPPCI EPISO 4 France Investments | (FRA) | (1 share held by SCI VDF) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; SAS VDF | (FRA) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; SCI VDF | (FRA) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; EPISO 4 Switch Holding Sarl | (LUX) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; E4 Switch Norway AS | (Norway) | (80%) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; EPISO 4 Pilgrim Holding Sarl | (Luxembourg) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; TP Property Sarl | (LUX) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; TB Property (Plymouth) Limited | (England & Wales) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; TB Property Developments (Plymouth) <br> Limited<br>| (England & Wales) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; EPISO 4 Lynx Holding Sarl | (LUX) | (97.6%) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; EPISO 4 Lynx Sarl | (LUX) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; EPISO 4 Lynx Marketing Sarl | (LUX) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; CCP 5 Pool Partnership GP Limited | (Jersey) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; CCP 5 Pool Partnership SLP | (Jersey) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; CCP 5 GP LLP | (United Kingdom) | (80%) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Curzon Capital Partners 5 Long-Life LP | (United Kingdom) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; CCP 5 (GP) S.a.r.l. | (Luxembourg) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Curzon Capital Partners 5 Long-Life SCA <br> SICAV-SIF<br>| (United Kingdom) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; CCP 5 Jersey Fragco 1 Limited | (Jersey) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; CCP 5 Jersey Fragco 2 Limited | (Jersey) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; CCP 5 Jersey Fragco 3 Limited | (Jersey) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; CCP 5 Jersey Fragco 4 Limited | (Jersey) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; CCP 5 Jersey Fragco 5 Limited | (Jersey) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; CCP 5 Jersey Fragco 6 Limited | (Jersey) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; CCP 5 Jersey Fragco 7 Limited | (Jersey) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; CCP 5 Jersey Fragco 8 Limited | (Jersey) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; CCP 5 Jersey Fragco 9 Limited | (Jersey) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; CCP 5 Jersey Fragco 10 Limited | (Jersey) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; CCP 5 Jersey Fragco 11 Limited | (Jersey) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; CCP 5 Long-Life Luxembourg S.a.r.l. | (Luxembourg) |  |

---

------

---

| | | |
|:---|:---|:---|
| **Name** | &nbsp;&nbsp; **Jurisdiction of**<br> **Organization**<br>| &nbsp;&nbsp; **Percent of Voting**<br> **Securities Owned**<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; CCP 5 LL GP Sárl | (Luxembourg) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Curzon Capital Partners 5 Long Life SCSp | (Luxembourg) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; EPISO 5 Incentive Partners GP Limited | (Jersey) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; EPISO 5 Incentive Partners SLP | (Jersey) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; EPISO 5 (GP) Sárl | (Luxembourg) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; European Property Investors Special <br> Opportunities 5 LP<br>| (Luxembourg) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; EPISO 5 Luxembourg Holding S.á.r.l. | (Luxembourg) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; EPISO 5 Portfolio GP S.á.r.l. | (Luxembourg) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; EPISO 5 Silver JV SCSp | (Luxembourg) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sterling Square Holdings S.á.r.l. | (Luxembourg) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; European Property Investors Special <br> Opportunities 5 SCSp-SICAV-SIF<br>| (Luxembourg) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; EPISO 5 Co-Investment SCSp | (Luxembourg) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; EPISO 6 UK Portfolio GP Limited | (UK) | ("EPISO 6 UK") |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; EPISO 6 (GP) S.á.r.l. | (Luxembourg) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; EPISO 6 Co-Investment SCSp | (Luxembourg) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; European Property Investors Special <br> Opportunities 6 SCSp SICAV-SIF<br>| (Luxembourg) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; E6 France Investments FPS-SICAV | (France) | (90.79%) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; EPISO 6 UK Investment Holdings Limited | (Jersey) | (64%) ("EPISO 6") |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; EPISO 6 Pegasus Holding Limited | (UK) | (100%) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pegasus Investment Partners LLP | (UK) | (97.5%) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pegasus Affordable Limited | (UK) | (62%) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Zen Housing Limited | (UK) | (62%) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Zen Housing Investments Ltd. | (UK) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Zen Housing 2 Ltd. | (UK) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Zen Rented Ltd. | (UK) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; EPISO 6 Waterfall Top Holdings Limited | (England & Wales) | (64%) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; EPISO 6 Waterfall LP | (England & Wales) | (64%) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Waterfall HoldCo Limited | (England & Wales) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Waterfall PropCo Limited | (England & Wales) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Waterfall PropCo Limited | (England & Wales) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Bury South Management Company <br> Limited<br>| (England & Wales) | (39%) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Crossway Management Company <br> Limited<br>| (England & Wales) | (16%) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Turbine Management Company Limited | (England & Wales) | (21%) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; EPISO 6 Phoenix JV LLP | (UK) | (EPISO 6 UK: 50%; EPISO 6: 50%) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Phoenix Core Holdco Limited | (UK) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Phoenix Core Propco Limited | (UK) | ("CorePropco") |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Cody TP Management Company <br> Limited<br>|  | &nbsp;&nbsp; (CorePropco – GP Guarantor 100%, <br> DevCo - Guarantor)<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; EPISO 6 Luxembourg Holding S.á.r.l. | (LUX) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Phoenix Development Holding S.á.r.l. | (LUX) | (99%, TP:1%) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Phoenix DevCo Sarl | (LUX) | ("DevCo") |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; EPISO 6 Spectre JV S.á.r.l. | (LUX) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; EPISO 6 Spectre 1 Holding S.á.r.l. | (Luxembourg) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; EPISO 6 Spectre 2 Holding S.á.r.l. | (Luxembourg) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; EPISO 6 Spectre 3 Holding S.á.r.l. | (Luxembourg) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; EPISO 6 Curado Holding S.á.r.l. | (Luxembourg) |  |

---

------

---

| | |
|:---|:---|
| **Name** | &nbsp;&nbsp; **Percent of Voting**<br> **Securities Owned**<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Claybrook, S.L.<br> (Spain) | (90%) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Barnfield Spain, S.L.<br> (Spain) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; EPISO 6 Macbeth Holding S.á.r.l.<br> (Luxembourg) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Macbeth 4 SRL<br> (Belgium) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Montague 1 S.á.r.l.<br> (LUX) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; EPISO 6 Moomin Holding S.á.r.l.<br> (LUX) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; EPISO 6 Siem Holding S.á.r.l.<br> (LUX) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; EPISO 6 Siem S.á.r.l.<br> (LUX) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; EPISO 6 Emerald Holdings S.á.r.l.<br> (LUX) | (96%) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; BCRE Leipzig Wohnen Nord B.V. |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; BCRE Leipzig Wohnen Ost B.V. |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; BCRE Leipzig West Ost B.V. |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; TAG Leipzig-Immobilien GmbH |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; EPISO 6 Platinum Holding S.a.r.l.<br> (Luxembourg) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Frankfurt Wohnland GmbH<br> (Germany) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; EPSIO 6 MB Holding S.a.r.l.<br> (Luxembourg) | (90%) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; MB Property 1 S.a.r.l.<br> (Luxembourg) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Hella Acquico GP S.á.r.l.<br> (Luxembourg) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Hella Acquico GP SCSp<br> (Luxembourg) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Hella Holding S.á.r.l.<br> (Luxembourg) | (96%) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; H Main Holding S.á.r.l.<br> (Luxembourg) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; H Main 1 S.á.r.l.<br> (Luxembourg) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; H Main 2 S.á.r.l.<br> (Luxembourg) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; H Main 3 S.á.r.l.<br> (Luxembourg) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; H Main 4 S.á.r.l.<br> (Luxembourg) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; H Main 5 S.á.r.l.<br> (Luxembourg) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; H Main 6 S.á.r.l.<br> (Luxembourg) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; H Main 7 S.á.r.l.<br> (Luxembourg) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; EPISO 6 Nexus Holding S.a.r.l.<br> (Luxembourg) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Aventos Eta Investment GmbH |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; EPISO 6 Nexus MidCo S.a.r.l.<br> (Luxembourg) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; EPISO 6 Manor GP S.a.r.l.<br> (Luxembourg) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; EPISO 6 Manor JV SCSp<br> (Luxembourg) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; EPISO 6 Manor Holding S.a.r.l.<br> (Luxembourg) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Manor Property S.a.r.l.<br> (Luxembourg) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Manor Devco Limited<br> (UK) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; EPISO 6 Northface Holding S.a.r.l.<br> (Luxembourg) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Northface 1 S.a.r.l.<br> (Luxembourg) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Northface 2 S.a.r.l.<br> (Luxembourg) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Northface 3 Fixtures S.a.r.l.<br> (Luxembourg) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; EPISO 6 Panther Co-Investment SCSp <br> (Jersey) GP Limited<br>(Jersey) | (92.15%) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; EPISO 6 Panther (Jersey) GP Limited<br> (Jersey) | (90%) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; EPISO 6 Panther (Jersey) JV SLP<br> (Jersey) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; EPISO 6 Panther (Jersey) Holdco Limited<br> (Jersey) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; EPISO 6 Panther Property Limited<br> (Jersey) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Point A Hotels (Web) Limited<br> (UK) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Point A Hotels Limited<br> (UK) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Raag St. Andrew Hotel Limited<br> (UK) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Patrizia Hanover (St. Andrew) PUT<br> (Jersey) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Raag Hotels Limited<br> (Jersey) |  |

---

------

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| | |
|:---|:---|
| **Name** | &nbsp;&nbsp; **Percent of Voting**<br> **Securities Owned**<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; QMK Pub Westminster Limited<br> (UK) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; RAAG OBS Limited<br> (Jersey) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; QMK OBS Limited<br> (IRL) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Raag Dublin Limited<br> (Jersey) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Raag QMK Dublin Limited<br> (IRE) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Raag Kensington Holdings Limited<br> (Jersey) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Raag Kensington Hotel Limited<br> (Jersey) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; QMK Kensington Limited<br> (UK) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Raag Westminster Holdings Limited<br> (Jersey) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Raag Westminster Hotel Limited<br> (Jersey) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; QMK Westminster Limited<br> (UK) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Raag Liverpool Street Holdings Limited<br> (Jersey) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Raag Liverpool Street Hotel Limited<br> (Jersey) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; QMK Liverpool Street Limited<br> (UK) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Raag Kings Cross Holdings Limited<br> (Jersey) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Raag Kings Cross Hotel Limited<br> (Jersey) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; QMK KX Limited<br> (UK) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Raag Paddington Holdings Limited<br> (Jersey) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Raag Paddington Hotel Limited<br> (Jersey) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; QMK Paddington Limited<br> (UK) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Raag Canary Wharf Limited<br> (Jersey) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; QMK Canary Wharf Limited<br> (UK) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Raag Shoreditch Limited<br> (Jersey) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; QMK Shoreditch Limited<br> (UK) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Raag Aberdeen<br> (Jersey) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; QMK Management Limited<br> (UK) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; EPISO 6 Panther Co-Investment (GP) S.a.r.l.<br> (Luxembourg) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; EPISO 6 Tiger Co-Investment SCSp<br> (Luxembourg) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; EPISO 6 Tiger GP Limited<br> (UK) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; EPISO 6 Tiger JV LLP<br> (UK) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; EPISO 6 Tiger Hotels Limited<br> (UK) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; easyHotel Limited<br> (UK) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; easyHotel Top Holdco Limited<br> (UK) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; easyHotel New UK Mezz Holdco Limited<br> (UK) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; easyHotel New UK Parent Holdco <br> Limited<br>(UK) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; easyHotel New UK Master Holdco <br> Limited<br>(UK) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; easyHotel New UK Limited<br> (UK) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; easyHotel Italy Holdings S.R.L.<br> (Italy) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; easyHotel France SAS<br> (France) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; easyHotel Nice Holdings SAS<br> (France) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; CGH SAS<br> (France) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; SC Nice Hotel<br> (France) | (99%) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; easyHotel France Paris CDG SAS<br> (France) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; easyHotel France Aubervilliers SAS<br> (France) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; easyHotel France Marseille Opco <br> SAS<br>(France) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; easyHotel France Marseille Propco <br> SAS<br>(France) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; easyHotel Fira, S.L.<br> (Spain) |  |

---

------

---

| | |
|:---|:---|
| **Name** | &nbsp;&nbsp; **Percent of Voting**<br> **Securities Owned**<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; easyHotel Spain S.L.<br> (Spain) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; easyHotel Spain Holdings S.L.<br> (Spain) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; eH Barcelona Meridiana OpCo S.L.<br> (Spain) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; easyHotel Barcelona Meridiana <br> PropCo S.L.<br>(Spain) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; eH Alicante OpCo S.L.<br> (Spain) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; EasyHotel Alicante PropCo S.L.<br> (Spain) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; eH Valencia OpCo S.L.<br> (Spain) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; easyHotel Valencia PropCo S.L.<br> (Spain) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; eH Madrid Fleta OpCo S.L.<br> (Spain) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; easyHotel Spain Madrid Fleta <br> PropCo S.L.<br>(Spain) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; easyHotel Ireland HoldCo Limited<br> (Ireland) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; easyHotel Ireland Limited<br> (Ireland) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; easyHotel UK Holdings Limited<br> (UK) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; easyHotel Birmingham Limited<br> (UK) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; easyHotel Ipswich Limited<br> (UK) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; easyHotel Milton Keynes Limited<br> (UK) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; easyHotel Leeds Limited<br> (UK) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; easyHotel Cardiff Limited<br> (UK) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; easyHotel Liverpool Limited<br> (UK) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; easyHotel Manchester Limited<br> (UK) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; easyHotel Sheffield Limited<br> (UK) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; easyHotel Glasgow Limited<br> (UK) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; easyHotel Shoreditch Limited<br> (UK) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; easyHotel Croydon Limited<br> (UK) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; easyHotel BidCo No. 1 Limited<br> (UK) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; easyHotel BidCo No. 2 Limited<br> (UK) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Benelux Budget Hotel Holding <br> (BBHH) B.V.<br>(Netherlands) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Benelux Budget Hotel <br> Management (BBHM) B.V.<br>(Netherlands) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; AMSOCS Hotel B.V.<br> (Netherlands) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Benelux Hotel Exploitatie 1 B.V.<br> (Netherlands) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; DHCC Hotel B.V.<br> (Netherlands) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Benelux Hotel Exploitatie II B.V.<br> (Netherlands) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; RDCC Hotel B.V.<br> (Netherlands) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Benelux Hotel Exploitatie III B.V.<br> (Netherlands) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; AMSAB Hotel B.V.<br> (Netherlands) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Benelux Hotel Exploitatie 4 B.V.<br> (Netherlands) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Benelux Hotel Exploitatie 6 B.V.<br> (Netherlands) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; DHSCH Hotel B.V.<br> (Netherlands) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Benelux Hotel Exploitatie 7 B.V.<br> (Netherlands) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Argent Office N.V.<br> (Belgium) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; BHRE 4 (Masstricht) B.V.<br> (Netherlands) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; BHRE 1 B.V.<br> (Netherlands) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Benelux Hotel Exploitatie 8 B.V.<br> (Netherlands) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Benelux Hotel Exploitatie 5 N.V.<br> (Belgium) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; easyHotel Oxford OpCo Limited<br> (UK) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; easyHotel Newcastle OpCo Limited<br> (UK) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; TIPS One Incentive Partners GP Limited<br> (Jersey) |  |

---

------

---

| | | |
|:---|:---|:---|
| **Name** | &nbsp;&nbsp; **Jurisdiction of**<br> **Organization**<br>| &nbsp;&nbsp; **Percent of Voting**<br> **Securities Owned**<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; TIPS One Incentive Partners SLP | (Jersey) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; TIPS One GP Sarl | (Luxembourg) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Tristan Income Plus Strategy One SCSp | (Luxembourg) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; TIPS One Alpha Holdings Sarl | (Luxembourg) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; TIPS One Alpha PV I Sarl | (Luxembourg) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; TIPS One Co-Investment GP Sarl | (Luxembourg) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; TIPS One Co-Investment SCSp | (Luxembourg) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; CCP IV (GP) LLP | (England & Wales) | (50%) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Curzon Capital Partners IV (GP) Limited | (England & Wales) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; CCP 5 GP LLP | (England & Wales) | (33%) (2 individual members) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; CCP 5 Pool Partnership GP Limited | (Jersey) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; CCP 5 Pool Partnership SLP | (Jersey) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Tristan Capital Partners Asset Management <br> Limited<br>| (England & Wales) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; TCP Spain, SL | (Spain) | (64.5%) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; TCP France | (France) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; TCP NL BV | (Netherlands) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; TCP Poland Spolka z ograniczoną <br> odpowiedzialnoscią<br>| (Poland) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Tristan Capital Management Company S.a.r.l. | (Luxembourg) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; TCP Co-Investment (GP) S.à.r.l. | (Luxembourg) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; TCP Co-Investment SCSp | (Luxembourg) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; German Property Performance Partners <br> Investors Feeder Verwaltungs GmbH<br>| (Germany) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; EPISO 4 (GP) S.à.r.l. | (Luxembourg) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; EPISO 4 SCSp | (Luxembourg) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; EPISO 4 (GP) II S.à.r.l. | (Luxembourg) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; EPISO 4 Student Housing SCSp | (Luxembourg) |  |
| &nbsp;&nbsp; Ausbil Investment Management Limited | (Australia) | ("AUSBIL") (81.14%) |
| &nbsp;&nbsp;&nbsp; Ausbil Australia Pty. Ltd. | (Australia) |  |
| &nbsp;&nbsp;&nbsp; Ausbil Asset Management Pty. Ltd. | (Australia) |  |
| &nbsp;&nbsp;&nbsp; Ausbil Global Infrastructure Pty. Limited | (Australia) | (55%) (45% owned by 4 employees) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Ausbil Investment Management Limited Employee <br> Share Trust<br>| (Australia) | (Ausbil: 100%) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Ausbil Global SmallCap Fund | (Australia) | (NYLIAC: 23.26%) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Ausbil Long Short Focus Fund | (Australia) | (NYLIAC: 30.41%) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Ausbil CORE Global Listed Infrastructure Fund |  | (NYLIAC: 99.91%) |
| &nbsp;&nbsp; NYLIFE Distributors LLC | (Delaware) |  |
| Flatiron RR LLC | (Delaware) |  |
| Flatiron RR II LLC | (Delaware) | &nbsp;&nbsp; (NYLInvestors Series A: 100%; <br> Tetragon Credit Income V L.P. Series <br> B: 100%)<br>|
| &nbsp;&nbsp; Flatiron RR CLO 30 LLC | (Delaware) |  |
| Flatiron CLO 2013-1-Ltd. | (Cayman Islands) | (NYL: 0%) (NYLIC: 25% equity) |
| Flatiron CLO 2015-1 Ltd. | (Cayman Islands) | &nbsp;&nbsp; (NYL: 0%) (NYL Investors Approx. <br> 59.155% Equity)<br>|
| Flatiron CLO 17 Ltd. | (Cayman Islands) | &nbsp;&nbsp; (NYL: 0%) (NYLIC: 4.09% debt, NYL <br> Investors 54% equity)<br>|
| Flatiron CLO 18 Ltd. | (Cayman Islands) | &nbsp;&nbsp; (NYL: 0%) (NYL Investors 100% <br> Equity)<br>|
| Flatiron CLO 19 Ltd. | (Cayman Islands) | (NYL: 0%) |

---

------

---

| | | |
|:---|:---|:---|
| **Name** | &nbsp;&nbsp; **Jurisdiction of**<br> **Organization**<br>| &nbsp;&nbsp; **Percent of Voting**<br> **Securities Owned**<br>|
| Flatiron CLO 20 Ltd. | (Cayman Islands) | &nbsp;&nbsp; (NYL: 0%) (NYL Investors 62% <br> Equity)<br>|
| Flatiron CLO 21 Ltd. | (Cayman Islands) | (NYL: 0%) |
| Flatiron RR CLO 22 LLC | (Cayman Islands) | (NYL: 0%) |
| Flatiron CLO 24 Ltd. | (Cayman Islands) | (NYL: 0%) |
| Flatiron CLO 25 Ltd. | (Cayman Islands) | (NYL: 0%) |
| Flatiron CLO 26 Ltd. | (Jersey) | (NYL: 0%) |
| Flatiron CLO 23 LLC | (Delaware) |  |
| Flatiron RR CLO 27 Ltd. | (Cayman Islands) | (NYL: 0%) |
| Flatiron CLO 28 Ltd. | (Cayman Islands) | (NYL: 0%) |
| Flatiron RR LLC, Manager Series | &nbsp;&nbsp; (Delaware Series <br> LLC)<br>| (Series A) |
| Flatiron RR LLC, Retention Series | &nbsp;&nbsp; (Delaware Series <br> LLC)<br>| (Series B) |
| Flatiron CLO 29 Ltd. |  |  |
| Flatiron RR CLO 30 Ltd. | (Cayman Islands) | (NYL: 0%) |
| Flatiron CLO 31 Ltd. |  |  |
| Flatiron CLO 32 Ltd. |  |  |
| Flatiron CLO 33 Ltd. |  |  |
| Flatiron CLO 34 Ltd. |  | (NYL Investors 70%) |
| Stratford CDO 2001-1 Ltd. | (Cayman Islands) |  |
| NYLIFE LLC | (Delaware) |  |
| &nbsp;&nbsp; Eagle Strategies LLC | (Delaware) |  |
| &nbsp;&nbsp; New York Life Capital Corporation | (Delaware) |  |
| &nbsp;&nbsp; New York Life Trust Company | (New York) |  |
| &nbsp;&nbsp; NYLIFE Securities LLC | (Delaware) |  |
| &nbsp;&nbsp; NYLINK Insurance Agency Incorporated | (Delaware) |  |
| Silver Spring, LLC | (Delaware) |  |
| &nbsp;&nbsp; Silver Spring Associates, L.P. | (Pennsylvania) |  |
| SCP 2005-C21-002 LLC | (Delaware) |  |
| SCP 2005-C21-003 LLC | (Delaware) |  |
| SCP 2005-C21-006 LLC | (Delaware) |  |
| SCP 2005-C21-007 LLC | (Delaware) |  |
| SCP 2005-C21-008 LLC | (Delaware) |  |
| SCP 2005-C21-009 LLC | (Delaware) |  |
| SCP 2005-C21-017 LLC | (Delaware) |  |
| SCP 2005-C21-018 LLC | (Delaware) |  |
| SCP 2005-C21-021 LLC | (Delaware) |  |
| SCP 2005-C21-025 LLC | (Delaware) |  |
| SCP 2005-C21-031 LLC | (Delaware) |  |
| SCP 2005-C21-036 LLC | (Delaware) |  |
| SCP 2005-C21-041 LLC | (Delaware) |  |
| SCP 2005-C21-043 LLC | (Delaware) |  |
| SCP 2005-C21-044 LLC | (Delaware) |  |
| SCP 2005-C21-048 LLC | (Delaware) |  |
| SCP 2005-C21-061 LLC | (Delaware) |  |
| SCP 2005-C21-063 LLC | (Delaware) |  |
| SCP 2005-C21-067 LLC | (Delaware) |  |
| SCP 2005-C21-069 LLC | (Delaware) |  |
| SCP 2005-C21-070 LLC | (Delaware) |  |

---

------

---

| | |
|:---|:---|
| **Name** | &nbsp;&nbsp; **Percent of Voting**<br> **Securities Owned**<br>|
| NYMH-Ennis GP, LLC<br> (Delaware) |  |
| &nbsp;&nbsp; NYMH-Ennis, L.P.<br> (Texas) |  |
| NYMH-Freeport GP, LLC<br> (Delaware) |  |
| &nbsp;&nbsp; NYMH-Freeport, L.P.<br> (Texas) |  |
| NYMH-Houston GP, LLC<br> (Delaware) |  |
| &nbsp;&nbsp; NYMH-Houston, L.P.<br> (Texas) |  |
| NYMH-Plano GP, LLC<br> (Delaware) |  |
| &nbsp;&nbsp; NYMH-Plano, L.P.<br> (Texas) |  |
| NYMH-San Antonio GP, LLC<br> (Delaware) |  |
| &nbsp;&nbsp; NYMH-San Antonio, L.P.<br> (Texas) |  |
| NYMH-Stephenville GP, LLC<br> (Delaware) |  |
| &nbsp;&nbsp; NYMH-Stephenville, L.P.<br> (Texas) |  |
| NYMH-Taylor GP, LLC<br> (Delaware) |  |
| &nbsp;&nbsp; NYMH-Taylor, L.P.<br> (Texas) |  |
| NYMH-Attleboro MA, LLC<br> (Delaware) |  |
| NYMH-Farmingdale, NY LLC<br> (Delaware) |  |
| NYLMDC-King of Prussia GP, LLC<br> (Delaware) |  |
| &nbsp;&nbsp; NYLMDC-King of Prussia Realty, LP<br> (Delaware) |  |
| Country Place LP<br> (Delaware) |  |
| &nbsp;&nbsp; Country Place JV LLC<br> (Delaware) |  |
| REEP-MF Salisbury Square Tower One TAF LLC<br> (Delaware) | (NYLIC: 95.5%; NYLIAC: 0.5%) |
| &nbsp;&nbsp; REEP-DRP Salisbury Square Tower One TAB JV LLC<br> (Delaware) | (LLC: 80%) |
| &nbsp;&nbsp;&nbsp; Salisbury Square Tower One LLC<br> (Delaware) |  |
| REEP-MF Salisbury Square Tower Two TAF LLC<br> (Delaware) | (inactive) |
| &nbsp;&nbsp; REEP-DRP Salisbury Square Tower Two TAB JV LLC<br> (Delaware) | (inactive) |
| REEP-MF Salisbury Square TAF LLC<br> (Delaware) | (inactive) |
| REEP-IND MCP WEST NC LLC<br> (Delaware) |  |
| Cumberland Properties LLC<br> (Delaware) |  |
| NYLife Real Estate Holdings LLC<br> (Delaware) |  |
| &nbsp;&nbsp; Huntsville NYL LLC<br> (Delaware) |  |
| &nbsp;&nbsp; REEP-IND Forest Park NJ LLC<br> (Delaware) |  |
| &nbsp;&nbsp;&nbsp; FP Building 4 LLC<br> (Delaware) |  |
| &nbsp;&nbsp;&nbsp; FP Building 1-2-3 LLC<br> (Delaware) |  |
| &nbsp;&nbsp;&nbsp; FP Building 17, LLC<br> (Delaware) |  |
| &nbsp;&nbsp;&nbsp; FP Building 20, LLC<br> (Delaware) |  |
| &nbsp;&nbsp;&nbsp; FP Mantua Grove LLC<br> (Delaware) |  |
| &nbsp;&nbsp;&nbsp; FP Lot 1.01 LLC<br> (Delaware) |  |
| &nbsp;&nbsp; REEP-IND NJ LLC<br> (Delaware) |  |
| &nbsp;&nbsp;&nbsp; NJIND JV LLC<br> (Delaware) | (93%) |
| &nbsp;&nbsp;&nbsp;&nbsp; NJIND Hook Road LLC<br> (Delaware) |  |
| &nbsp;&nbsp;&nbsp;&nbsp; NJIND Bay Avenue LLC<br> (Delaware) |  |
| &nbsp;&nbsp;&nbsp;&nbsp; NJIND Bay Avenue Urban Renewal LLC<br> (Delaware) |  |
| &nbsp;&nbsp;&nbsp;&nbsp; NJIND Corbin Street LLC<br> (Delaware) |  |
| &nbsp;&nbsp; REEP-MF Cumberland TN LLC<br> (Delaware) |  |
| &nbsp;&nbsp;&nbsp; Cumberland Apartments, LLC<br> (Tennessee) |  |
| &nbsp;&nbsp; REEP-MF Marina Landing WA LLC<br> (Delaware) |  |
| &nbsp;&nbsp;&nbsp; REEP-SP Marina Landing LLC<br> (Delaware) | (98%) |
| &nbsp;&nbsp; REEP-MF Woodridge IL LLC<br> (Delaware) |  |
| &nbsp;&nbsp; REEP-RTL SASI GA LLC<br> (Delaware) |  |
| &nbsp;&nbsp; REEP-RTL Bradford PA LLC<br> (Delaware) |  |

---

------

---

| | |
|:---|:---|
| **Name** | &nbsp;&nbsp; **Percent of Voting**<br> **Securities Owned**<br>|
| &nbsp;&nbsp; REEP-RTL CTC NY LLC<br> (Delaware) |  |
| &nbsp;&nbsp;&nbsp; 5005 LBJ Tower LLC<br> (Delaware) | (97%) |
| &nbsp;&nbsp; REEP-OFC/RTL MARKET ROSS TX LLC<br> (Delaware) |  |
| &nbsp;&nbsp;&nbsp; MARKET ROSS TX JV LLC<br> (Delaware) | (98.7%) |
| &nbsp;&nbsp;&nbsp;&nbsp; MARKET ROSS TX GARAGE OWNER LLC<br> (Delaware) |  |
| &nbsp;&nbsp;&nbsp;&nbsp; MARKET ROSS TX OFFICE OWNER LLC<br> (Delaware) |  |
| &nbsp;&nbsp;&nbsp;&nbsp; MARKET ROSS TX RETAIL OWNER LLC<br> (Delaware) |  |
| &nbsp;&nbsp; REEP-OFC Mallory TN LLC<br> (Delaware) |  |
| &nbsp;&nbsp;&nbsp; 3665 Mallory JV LLC<br> (Delaware) | (90.9%) |
| &nbsp;&nbsp; REEP-OFC WATER RIDGE NC LLC<br> (Delaware) |  |
| &nbsp;&nbsp; REEP-OFC 2300 Empire LLC<br> (Delaware) |  |
| &nbsp;&nbsp; REEP-MF Wynnewood PA LLC<br> (Delaware) |  |
| &nbsp;&nbsp;&nbsp; Wynnewood JV LLC<br> (Delaware) | (100%) |
| &nbsp;&nbsp; REEP-MU Fayetteville NC LLC<br> (Delaware) | (100%) |
| &nbsp;&nbsp;&nbsp; 501 Fayetteville JV LLC<br> (Delaware) | (85%) |
| &nbsp;&nbsp;&nbsp;&nbsp; 501 Fayetteville Owner LLC<br> (Delaware) | (100%) |
| &nbsp;&nbsp; REEP-MU SOUTH GRAHAM NC LLC<br> (Delaware) |  |
| &nbsp;&nbsp;&nbsp; 401 SOUTH GRAHAM JV LLC<br> (Delaware) | (90%) |
| &nbsp;&nbsp;&nbsp;&nbsp; 401 SOUTH GRAHAM OWNER LLC<br> (Delaware) |  |
| &nbsp;&nbsp; REEP-IND COMMERCE CITY CO LLC<br> (Delaware) |  |
| &nbsp;&nbsp;&nbsp; REEP-BRENNAN COMMERCE CITY JV LLC<br> (Delaware) |  |
| &nbsp;&nbsp; REEP-OFC Mass Ave MA LLC<br> (Delaware) |  |
| &nbsp;&nbsp; REEP-MF FARMINGTON IL LLC<br> (Delaware) |  |
| &nbsp;&nbsp;&nbsp; REEP-MARQUETTE FARMINGTON JV LLC<br> (Delaware) | (90%) |
| &nbsp;&nbsp;&nbsp;&nbsp; REEP-MARQUETTE FARMINGTON OWNER LLC<br> (Delaware) |  |
| &nbsp;&nbsp; REEP-MF BELLVUE STATION WA LLC<br> (Delaware) |  |
| &nbsp;&nbsp;&nbsp; REEP-LP BELLVUE STATION JV LLC<br> (Delaware) | (86.15%) |
| &nbsp;&nbsp; REEP-HINES ENCLAVE POINT AZ LLC<br> (Delaware) |  |
| &nbsp;&nbsp;&nbsp; REEP-HINES ENCLAVE POINT JV LLC<br> (Delaware) | (50%) |
| &nbsp;&nbsp; REEP-MF WILDHORSE RANCH TX LLC<br> (Delaware) |  |
| &nbsp;&nbsp;&nbsp; REEP-WP-WILDHORSE RANCH JV LLC<br> (Delaware) |  |
| &nbsp;&nbsp; REEP-IND ROMULUS MI LLC<br> (Delaware) |  |
| &nbsp;&nbsp;&nbsp; REEP-NPD ROMULUS JV LLC<br> (Delaware) | (87.14%) |
| &nbsp;&nbsp; REEP-IND ROMULUS MI II LLC<br> (Delaware) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; REEP-NPD ROMULUS II AND III JV LLC | (75.22%) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; REEP-NPD Romulus II AND III JV B4 <br> OWNER LLC<br>(Delaware) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; REEP-NPD Romulus II AND III JV B5 <br> OWNER LLC<br>(Delaware) |  |
| &nbsp;&nbsp; REEP-MF SOUTH MAIN TX LLC<br> (Delaware) | (100%) |
| &nbsp;&nbsp;&nbsp; REEP-AO SOUTH MAIN JV LLC<br> (Delaware) | (99.99%) |
| &nbsp;&nbsp;&nbsp; REEP-AO SOUTH MAIN OWNER LLC<br> (Delaware) | (100%) |
| &nbsp;&nbsp; REEP-IND Cubes Roosevelt LLC<br> (Delaware) |  |
| &nbsp;&nbsp;&nbsp; REEP-IND Cubes Roosevelt JV, LLC<br> (Delaware) | (90%) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4300 Roosevelt LLC<br> (Illinois) |  |
| 2015 DIL PORTFOLIO HOLDINGS LLC<br> (Delaware) | (NYLIC: 100%) |
| &nbsp;&nbsp; PA 180 KOST RD LLC<br> (Delaware) |  |
| Cortlandt Town Center LLC<br> (Delaware) |  |
| REEP-ADC GA LLC<br> (Delaware) |  |
| REEP-WP ART TOWER JV LLC<br> (Delaware) |  |
| REEP-1250 Forest LLC<br> (Delaware) |  |

---

------

---

| | |
|:---|:---|
| **Name** | &nbsp;&nbsp; **Percent of Voting**<br> **Securities Owned**<br>|
| REEP-HZ SPENCER LLC<br> (Delaware) |  |
| REEP-IND 10 WEST AZ LLC<br> (Delaware) |  |
| REEP-IND 4700 Nall TX LLC<br> (Delaware) |  |
| REEP-IND Alpha TX LLC<br> (Delaware) |  |
| REEP-IND MCP VIII NC LLC<br> (Delaware) |  |
| REEP-IND CHINO CA LLC<br> (Delaware) |  |
| REEP-IND FRANKLIN MA HOLDER LLC<br> (Delaware) |  |
| REEP-IND FREEDOM MA LLC<br> (Delaware) |  |
| REEP-IND Fridley MN LLC<br> (Minnesota) |  |
| REEP-IND Kent LLC<br> (Delaware) |  |
| REEP-IND LYMAN MA LLC<br> (Delaware) |  |
| REEP-IND MCP II NC LLC<br> (Delaware) |  |
| REEP-IND MCP IV NC LLC<br> (Delaware) |  |
| REEP-IND MCP V NC LLC<br> (Delaware) |  |
| REEP-IND MCP VII NC LLC<br> (Delaware) |  |
| REEP-INC MCP III OWNER NC LLC<br> (Delaware) |  |
| REEP-IND MCP West NC LLC<br> (Delaware) |  |
| REEP-IND STANFORD COURT LLC<br> (Delaware) |  |
| &nbsp;&nbsp; REEP-IND STANFORD COURT CA LLC<br> (Delaware) |  |
| REEP-IND Valley View TX LLC<br> (Delaware) |  |
| REEP-IND Valwood TX LLC<br> (Delaware) |  |
| REEP-MF 960 East Paces Ferry GA LLC<br> (Delaware) |  |
| REEP-MF 960 EPF Opco GA LLC<br> (Delaware) |  |
| REEP-MF Emblem DE LLC<br> (Delaware) |  |
| REEP-MF Gateway TAF UT LLC<br> (Delaware) | (NYLIC: 99%, NYLIAC: 1%) |
| &nbsp;&nbsp; REEP-WP Gateway TAB JV LLC<br> (Delaware) | (LLC: 99%, NYLIAC: 1%) |
| REEP-MF Mount Laurel NJ LLC<br> (Delaware) |  |
| REEP-MF NORTH PARK CA LLC<br> (Delaware) |  |
| REEP-AVERY OWNER LLC<br> (Delaware) |  |
| REEP-MF One City Center NC LLC<br> (Delaware) |  |
| REEP-MF Wallingford WA LLC<br> (Delaware) |  |
| REEP-MF STEWART AZ OLDER LLC<br> (Delaware) |  |
| REEP-MF STEWART AZ<br> (Delaware) |  |
| REEP-OFC Aspect OR LLC<br> (Delaware) | (NYLIC: 37%, NYLIAC: 63%) |
| REEP-OFC Bellevue WA LLC<br> (Delaware) |  |
| REEP-OFC Financial Center FL LLC<br> (Delaware) |  |
| REEP-OFC WATER RIDGE NC HOLDCO LLC<br> (Delaware) |  |
| REEP-OFC ONE WATER RIDGE NC LLC<br> (Delaware) |  |
| REEP-OFC TWO WATER RIDGE NC LLC<br> (Delaware) |  |
| REEP-OFC FOUR WATER RIDGE NC LLC<br> (Delaware) |  |
| REEP-OFC FIVE WATER RIDGE NC LLC<br> (Delaware) |  |
| REEP-OFC SIX WATER RIDGE NC LLC<br> (Delaware) |  |
| REEP-OFC SEVEN WATER RIDGE NC LLC<br> (Delaware) |  |
| REEP-OFC EIGHT WATER RIDGE NC LLC<br> (Delaware) |  |
| REEP-OFC NINE WATER RIDGE NC LLC<br> (Delaware) |  |
| REEP-OFC TEN WATER RIDGE NC LLC<br> (Delaware) |  |
| REEP-OFC ELEVEN WATER RIDGE NC LLC<br> (Delaware) |  |
| REEP-MF FOUNTAIN PLACE MN LLC<br> (Delaware) |  |
| &nbsp;&nbsp; REEP-MF FOUNTAIN PLACE LLC<br> (Delaware) |  |
| REEP-MF Park-Line FL LLC<br> (Delaware) |  |
| REEP-OFC 2300 Empire CA LLC<br> (Delaware) |  |

---

------

---

| | |
|:---|:---|
| **Name** | &nbsp;&nbsp; **Percent of Voting**<br> **Securities Owned**<br>|
| REEP-IND 10 WEST II AZ LLC<br> (Delaware) |  |
| REEP-RTL Flemington NJ LLC<br> (Delaware) |  |
| REEP-RTL Mill Creek NJ LLC<br> (Delaware) |  |
| REEP-RTL NPM GA LLC<br> (Delaware) |  |
| REEP-OFC 515 Post Oak TX LLC<br> (Delaware) | (NYLIC: 65%, NYLIAC: 35%) |
| REEP-RTL DTC VA LLC<br> (Delaware) | (NYLIC: 39%, NYLIAC: 61%) |
| REEP-RTL DTC-S VA LLC<br> (Delaware) | (NYLIC: 37%, NYLIAC: 63%) |
| REEP-OFC 410 TOWNSEND CA LLC<br> (Delaware) |  |
| REEP-OFC 410 TOWNSEND LLC<br> (Delaware) |  |
| REEP-2023 PH 5 LLC<br> (Delaware) | &nbsp;&nbsp; (Name change to Madison-LPP <br> Kernersville GP LLC)<br>|
| REEP-2023 PH 6 LLC<br> (Delaware) | &nbsp;&nbsp; (Name change to Madison-LPP <br> Kernersville LP)<br>|
| REEP-2023 PH 7 LLC<br> (Delaware) |  |
| REEP-2023 PH 8 LLC<br> (Delaware) | &nbsp;&nbsp; (Name change to Madison-LPP <br> Kernersville QRS, Inc.)<br>|
| REEP-OFC 600 TOWNSEND LLC<br> (Delaware) |  |
| REEP-OFC 600 TOWNSEND CA LLC<br> (Delaware) |  |
| REEP-OFC 1341 G DC LLC<br> (Delaware) | (NYLIC: 65%, NYLIAC: 35%) |
| REEP-OFC 1030 15NM DC LLC<br> (Delaware) | (NYLIC: 65%, NYLIAC: 35%) |
| REEP-OFC 1111 19NW DC LLC<br> (Delaware) | (NYLIC: 63.83%, NYLIAC: 36.17%) |
| REEP 220 NW Owner LLC<br> (Delaware) |  |
| REEP-OFC 30 WM IL LLC<br> (Delaware) |  |
| REEP-SS Marshfield LLC<br> (Delaware) |  |
| &nbsp;&nbsp; REEP-LLP Marshfield JV LLC<br> (Delaware) |  |
| REEP-SS Vallejo LLC<br> (Delaware) |  |
| REEP-OFC 353 Sacramento LLC<br> (Delaware) |  |
| &nbsp;&nbsp; REEP-Royal 353 Sacramento JV LLC<br> (Delaware) |  |
| REEP-MF Reno LLC<br> (Delaware) |  |
| REEP-NPD Romulus II and III JV LLC<br> (Delaware) |  |
| REEP-NPD Romulus II and III JV B4 OWNER LLC<br> (Delaware) |  |
| REEP-NPD Romulus II and III JV B5 OWNER LLC<br> (Delaware) |  |
| REEP-OFC 757 Third Avenue NY LLC<br> (Delaware) |  |
| REEP-OFC 260 Sheridan JV CA LLC<br> (Delaware) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; REEP-OFC 260 Sheridan JV Owner CA LLC<br> (Delaware) |  |
| REKA 51M HOLDINGS, LLC<br> (Delaware) |  |
| NJIND Raritan Center LLC<br> (Delaware) |  |
| NJIND Talmadge Road LLC<br> (Delaware) |  |
| NJIND Melrich Road LLC<br> (Delaware) |  |
| FP Building 18, LLC<br> (Delaware) |  |
| FP Building 19, LLC<br> (Delaware) |  |
| Summit Ridge Apartments, LLC<br> (Delaware) |  |
| PTC Acquisitions, LLC<br> (Delaware) |  |
| Martingale Road LLC<br> (Delaware) |  |
| NYLIC HKP MEMBER LLC<br> (Delaware) | &nbsp;&nbsp; (NYLIC-MM: 67.974%, NYLIAC-IM: <br> 32.026%)<br>|
| &nbsp;&nbsp; NYLIC HKP VENTURE LLC<br> (Delaware) | (51%) |
| &nbsp;&nbsp;&nbsp; NYLIC HKP REIT LLC<br> (Delaware) | (51%) |
| New York Life Funding<br> (Cayman Islands)<sup>6</sup> <br>|  |
| New York Life Global Funding<br> (Delaware)<sup>6</sup> <br>|  |
| Government Energy Savings Trust 2003-A (GEST)<br> (New York)<sup>7</sup> <br>|  |

---

------

---

| | | |
|:---|:---|:---|
| **Name** | &nbsp;&nbsp; **Jurisdiction of**<br> **Organization**<br>| &nbsp;&nbsp; **Percent of Voting**<br> **Securities Owned**<br>|
| UFI-NOR Federal Receivables Trust, Series 2009B | (New York)<sup>7</sup> <br>|  |
| NYLARC Holding Company Inc. | (Arizona)<sup>6</sup> <br>|  |
| &nbsp;&nbsp; New York Life Agents Reinsurance Company | (Arizona)<sup>6</sup> <br>|  |
| JREP Fund Holdings I, L.P. | (Cayman Islands) | (12.5%) |
| Jaguar Real Estate Partners L.P. | (Cayman Islands) | (30.3%) |
| REEP-NYL JAG ACQUISITION CO MEMBER LLC | (Delaware) |  |
| NYLIFE Office Holdings Member LLC | (Delaware) | (51%) |
| &nbsp;&nbsp; NYLIFE Office Holdings LLC | (Delaware) | (51%) |
| &nbsp;&nbsp;&nbsp; NYLIFE Office Holdings REIT LLC | (Delaware) |  |
| &nbsp;&nbsp;&nbsp;&nbsp; REEP-OFC DRAKES LANDING CA LLC | (Delaware) |  |
| &nbsp;&nbsp;&nbsp;&nbsp; REEP-OFC CORPORATE POINTE CA LLC | (Delaware) |  |
| &nbsp;&nbsp;&nbsp;&nbsp; REEP-OFC VON KARMAN CA LLC | (Delaware) |  |
| &nbsp;&nbsp;&nbsp;&nbsp; REEP-OFC ONE BOWDOIN SQUARE MA LLC | (Delaware) |  |
| &nbsp;&nbsp;&nbsp;&nbsp; REEP-OFC 525 N Tryon NC LLC | (Delaware) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 525 Charlotte Office LLC | (Delaware) | (100%) |
| &nbsp;&nbsp;&nbsp;&nbsp; REEP-IMPIC OFC PROMINENCE ATLANTA LLC | Delaware |  |
| Sol Invictus Note Issuer 2021-1 LLC | (Delaware) |  |
| Veritas Doctrina Note Issuer SPV LLC | (Delaware) |  |
| Fairview Capital Partners, LLC | (Delaware) | (49%) |
| AC 2023 NMTC Investor, LLC | (Louisiana) | (NYLIC: 79.20%, NYLIAC: 19.80%) |
| &nbsp;&nbsp; USB NMTC FUND 20223-6, LLC | (Delaware) |  |
| NYLIC RLP II, LLC | (Delaware) |  |
| Phalanx Mortgage Opportunities Trust | (Delaware) | &nbsp;&nbsp; (NYL:0%) (Delaware Statutory Trust <br> BNY Trustee)<br>|
| Phalanx Mortgage Opportunities Trust Manager LLC | (Delaware) | (NYL:0%) |

---

------

(+)

By including the indicated corporations in this list, New York Life is not stating or admitting that said corporations are under its actual control; rather, these corporations are listed here to ensure full compliance with the requirements of this Form N-6.

(\*)

Registered investment company as to which New York Life and/or its subsidiaries perform one or more of the following services: investment management, administrative, distribution, transfer agency and underwriting services. It is not a subsidiary of New York Life and is included for informational purposes only.

(†)

New York Life Investment Management LLC serves as investment adviser to this entity, the shares of which are held of record by separate accounts of NYLIAC. New York Life disclaims any beneficial ownership and control of this entity. New York Life and NYLIAC as depositors of said separate accounts have agreed to vote their shares as to matters covered in the proxy statement in accordance with voting instructions received from holders of variable annuity and variable life insurance policies at the shareholders meeting of this entity. It is not a subsidiary of New York Life, but is included here for informational purposes only.

NYL Cayman Holdings Ltd. owns 15.62%.

NYL Worldwide Capital Investment LLC owns 0.002%.

NYLIC owns 0.00%, NYLIAC owns 0.00%, and MacKay owns .07% for a total ownership of .07%.

NYLCAP Manager LLC owns 24.66% of the voting management shares. NYLCAP India Funding LLC owns 36% of non-voting carry shares.

NYLCAP Manager LLC owns 24.66% of the voting management shares. NYLCAP India Funding III LLC owns 31.36% of non-voting carry shares.

Control is through a reliance relationship between NYLIC and this entity, not ownership of voting interests.

Control is through financial interest or investment management contract, not ownership of voting interests.

------

ITEM 29. INDEMNIFICATION

Article IX of the Amended and Restated By-Laws of New York Life Insurance and Annuity Corporation ("NYLIAC") provides that NYLIAC shall indemnify and hold harmless (including the provision of a defense) certain persons to the fullest extent permitted by the Delaware General Corporation Law against all expenses, costs, judgments, penalties, fines, liability and loss (including attorneys' fees, judgments, fines, ERISA excise taxes or penalties and amount paid in settlement) that any such person reasonably incurs or suffers if he/she is made party (or threatened to be made party) or is otherwise involved in a claim, action, suit, or proceeding, whether civil, criminal, administrative or investigative, by reason of the fact that he/she is (or was) a Director or officer of NYLIAC or was serving at NYLIAC's request as a Director, officer, or trustee of another corporation or of a partnership, joint venture, trust or other enterprise, including service with respect to an employee benefit plan. Such persons also have the right to have NYLIAC pay the reasonable expenses (including reasonable attorneys' fees) incurred in the defense of any proceedings in advance of their final disposition, subject to certain conditions. NYLIAC may also, to the extent authorized by its Board of Directors, grant rights to indemnification and to the advancement of expenses to any employee or agent of NYLIAC.

Please refer to Article IX of the Amended and Restated By-Laws of NYLIAC (Exhibit No. (f)(2)(b) hereto) for the full text of the indemnification provisions.

Insofar as indemnification for liabilities arising under the Securities Act of 1933 may be permitted to Directors, officers and controlling persons of the Registrant pursuant to the provisions described above, 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 30. PRINCIPAL UNDERWRITERS

(a) Other Activity. Investment companies (other than the Registrant) for which NYLIFE Distributors LLC is currently acting as underwriter:

NYLIAC Variable Universal Life Separate Account-I <br>NYLIAC MFA Separate Account-I <br>NYLIAC MFA Separate Account-II <br>NYLIAC Variable Annuity Separate Account-I <br>NYLIAC Variable Annuity Separate Account-II <br>NYLIAC Variable Annuity Separate Account-III <br>NYLIAC Variable Annuity Separate Account-IV <br>NYLIAC VLI Separate Account <br>New York Life Investment Funds <br>New York Life Investment Funds Trust <br>NYLIM VP Funds Trust

(b) Management. The principal business address of each director and officer of NYLIFE Distributors LLC is 30 Hudson Street, Jersey City, NJ 07302.

---

| | |
|:---|:---|
| **Names of Directors & Officers:** | **Positions & Offices with Underwriter:** |
| Lehneis, Kirk C. | Chairman & Senior Managing Director |
| Barros, Jose N. | Chief Executive Officer & Manager |
| Harte, Francis Michael | Senior Managing Director, Manager & Audit Committee Member |
| Akkerman, John W. | Senior Managing Director, New York Life Investments Institutional Sales |
| Micucci, Alison H. | Senior Managing Director – MacKay Shields Institutional Sales |
| Sabal, Craig A. | Senior Managing Director, NYL Investors Institutional Sales |
| Taylor, Todd E. | Senior Managing Director, Retail Annuities |
| Virendra, Sonali | Senior Vice President |
| Millay, Edward P. | Audit Committee Member (Chairman) & Manager |
| Gamble, Michael | Managing Director, Institutional Sales |
| Wickwire, Brian D. | Managing Director, Controller and Chief Operating Officer |
| Bain, Karen A. | Vice President, Tax |
| Goldstein, Andrew | Vice President |
| Sharrier, Elizabeth A. | Corporate Vice President & Assistant Secretary |
| Meade, Colleen A. | Associate General Counsel & Secretary |
| Misra, Manali S. | Assistant General Counsel & Assistant Secretary |
| Andreola, Michael | Director, Compliance and Sales Material Review |
| Howard, Linda M. | &nbsp;&nbsp; Director, Chief Compliance Officer, Anti-Money Laundering Officer & Office of Foreign <br> Assets Control Officer<br>|
| Hansen, Marta | Director, Chief Financial Officer, Principal Operations Officer, & Treasurer |
| Long, Harry S. | Director, Insurance Solutions - Retail Life |

---

&nbsp;&nbsp;&nbsp;&nbsp;(c) Compensation from the Registrant.

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Name of**<br> **Principal**<br> **Underwriter**<br>| &nbsp;&nbsp; **New Underwriting**<br> **Discounts and**<br> **Commissions**<br>| &nbsp;&nbsp; **Compensation on**<br> **Events Occasioning**<br> **the Deduction of**<br> **a Deferred**<br> **Sales Load**<br>| &nbsp;&nbsp; **Brokerage**<br> **Commissions**<br>| &nbsp;&nbsp; **Other**<br> **Compensation**<br>|
| NYLIFE Distributors LLC | &nbsp;&nbsp; -0- | &nbsp;&nbsp; -0- | &nbsp;&nbsp; -0- | &nbsp;&nbsp; -0- |

---

ITEM 31. LOCATION OF ACCOUNTS AND RECORDS

All accounts and records required to be maintained by Section 31(a) of the 1940 Act and the rules under it are maintained by New York Life Insurance Company at its home office, 51 Madison Avenue, New York, NY 10010; New York Life Investment Management LLC, State Street Bank, 2323 Grand Blvd, 5<sup>th</sup> Floor, Kansas City, MO 64108; and New York Life Insurance Company, Fry Wagner Storage Facility, 15850 Santa Fe Trail Drive, Lenexa, KS 66219.

------

ITEM 32. MANAGEMENT SERVICES.

Not applicable.

ITEM 33. FEE REPRESENTATION.

New York Life Insurance and Annuity Corporation ("NYLIAC"), the sponsoring insurance company of NYLIAC Corporate Sponsored Variable Universal Life Separate Account-I, hereby represents that the fees and charges deducted under the NYLIAC Corporate Executive Series Variable Universal Life Insurance Policies in the aggregate are reasonable in relation to the services rendered, the expenses expected to be incurred and the risks assumed by NYLIAC.

------

SIGNATURES

Pursuant to the Securities Act of 1933 and the Investment Company Act of 1940, the Registrant certifies that it meets the requirements of Securities Act Rule 485(b) for effectiveness of this Registration Statement and has duly caused this Amendment to the Registration Statement to be signed on its behalf by the undersigned, duly authorized, in the City and State of New York on April 13, 2026.

---

| | |
|:---|:---|
| NYLIAC CORPORATE SPONSORED<br> VARIABLE UNIVERSAL LIFE<br> SEPARATE ACCOUNT–I<br> (Registrant) | NYLIAC CORPORATE SPONSORED<br> VARIABLE UNIVERSAL LIFE<br> SEPARATE ACCOUNT–I<br> (Registrant) |
| By: | /s/ Janis C. Rubin<br>Name: Janis C. Rubin<br> Title: Vice President<br>|
| NEW YORK LIFE INSURANCE AND<br> ANNUITY CORPORATION<br> (Depositor) | NEW YORK LIFE INSURANCE AND<br> ANNUITY CORPORATION<br> (Depositor) |
| By: | /s/ Janis C. Rubin<br>Name: Janis C. Rubin<br> Title: Vice President<br>|

---

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 date indicated.

---

| | |
|:---|:---|
| Erik A. Anderson\* | Director |
| Angela Chen\* | Officer (Principal Accounting Officer) |
| Craig L. DeSanto\* | &nbsp;&nbsp; Chairman of the Board, Chief Executive Officer, President & <br> Director (Principal Executive Officer)<br>|
| Eric M. Feldstein\* | Director & Chief Financial Officer (Principal Financial Officer) |
| Thomas A. Hendry\* | Director |
| Jodi L. Kravitz\* | Director |
| Michael K. McDonnell\* | Director |
| Amy Miller\* | Director |
| Craig A. Sabal\* | Director |

---

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

---

| | |
|:---|:---|
| By: | /s/ Janis C. Rubin<br>Janis C. Rubin<br> Attorney-in-Fact<br>|
|  | April 13, 2026 |

---

------

\*

Pursuant to Powers of Attorney - Filed herewith.

------

EXHIBIT INDEX

---

| | |
|:---|:---|
| **EXHIBIT NUMBER** | **DESCRIPTION** |
| (h)(36) | [<u>Franklin Templeton Participation Agreement</u>](d34860dex99h36.htm) |
| (h)(37) | [<u>Form of Goldman Sachs Participation Agreement</u>](d34860dex99h37.htm) |
| (i)(34) | [<u>Franklin Templeton Services Agreement</u>](d34860dex99i34.htm) |
| (i)(35) | [<u>Form of Goldman Sachs Administrative Services Agreement</u>](d34860dex99i35.htm) |
| (j)(1) | [<u>Powers of Attorney</u>](d34860dex99j1.htm) |
| (k)(1) | [<u>Opinion and Consent of Charles A. Whites, Jr., Esq.</u>](d34860dex99k1.htm) |
| (n)(1) | [<u>Consent of PricewaterhouseCoopers LLP</u>](d34860dex99n1.htm) |

---

------

## Ex-99.(H)(36)

## Participation Agreement
as of May 1, 2026

Franklin Templeton Variable Insurance Products Trust

Franklin Distributors, LLC

New York Life Insurance and Annuity Corporation

**CONTENTS** 

<u>Section</u> <u>Subject Matter</u>

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. Parties and Purpose

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. Representations and Warranties

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3. Purchase and Redemption of Trust Portfolio Shares

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4. Fees, Expenses, Prospectuses, Proxy Materials and Reports

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5. Voting

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6. Sales Material, Information and Trademarks

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7. Indemnification

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8. Notices

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9. Termination

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10. Miscellaneous

**Schedules to this Agreement** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;A. The Company

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;B. Accounts of the Company

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;C. Available Portfolios and Classes of Shares of the Trust

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;D. Contracts of the Company

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;E. [this schedule is not used]

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;F. Rule 12b-1 Plans of the Trust

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;G. Addresses for Notices

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;H. Shared Funding Order

**1.**  **<u>Parties and Purpose</u>** 

This agreement (the "Agreement") is entered by and between certain portfolios and classes thereof, specified below and in Schedule C, of Franklin Templeton Variable Insurance Products Trust, an open-end management investment company organized as a statutory trust under Delaware law (the "Trust"), Franklin Distributors, LLC, a Delaware limited liability company which is the principal underwriter for the Trust (the "Underwriter," and together with the Trust, "we" or "us"), the insurance company identified on Schedule A (the "Company" or "you"), on your own behalf and on behalf of each segregated asset account maintained by you that is listed on Schedule B, as that schedule may be amended from time to time ("Account" or "Accounts").

------

The purpose of this Agreement is to entitle you, directly on behalf of the Accounts, to purchase the shares, and classes of shares, of portfolios of the Trust ("Portfolios") that are identified on Schedule C, consistent with the terms of the prospectuses of the Portfolios, solely for the purpose of funding benefits of your variable life insurance policies or variable annuity contracts ("Contracts") that are identified on Schedule D. This Agreement does not authorize any other purchases or redemptions of shares of the Trust.

**2.**  **<u>Representations and Warranties</u>** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**2.1** **Representations and Warranties by You** 

You represent and warrant 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;&nbsp;&nbsp;&nbsp;&nbsp;2.1.1 You are an insurance company duly organized and in good standing under the laws of your state of incorporation.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.1.2 All of your directors (provided you are not compensating them and they are performing acts within the scope of the usual duties of an employee), officers, employees, and other individuals or entities dealing with the money and/or securities of the Trust are and shall 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 $5 million. Such bond shall include coverage for larceny and embezzlement and shall be issued by a reputable bonding company. You agree to make all reasonable efforts to see that this bond or another bond containing such provisions is always in effect, and you agree to notify us in the event that such coverage no longer applies.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.1.3 Each Account is a duly organized, validly existing segregated asset account under applicable insurance law and 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 Internal Revenue Code of 1986, as amended ("Code") and the regulations thereunder. You will use your best efforts to continue to meet such definitional requirements, and will notify us 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;&nbsp;&nbsp;&nbsp;&nbsp;2.1.4 Each Account either: (i) has been registered or, prior to any issuance or sale of the Contracts, will be registered as a unit investment trust under the Investment Company Act of 1940 ("1940 Act"); or (ii) has not been so registered in proper reliance upon an exemption from registration under Section 3(c) of the 1940 Act; if the Account is exempt from registration as an investment company under Section 3(c) of the 1940 Act, you will use your best efforts to maintain such exemption and will notify us immediately upon having a reasonable basis for believing that such exemption no longer applies or might not apply 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;&nbsp;&nbsp;&nbsp;&nbsp;2.1.5 The Contracts or interests in the Accounts: (i) are or, prior to any issuance or sale will be, registered as securities under the Securities Act of 1933, as amended (the "1933 Act"); or (ii) are not registered because they are properly exempt from registration under Section 3(a)(2) of the 1933 Act or will be offered exclusively in transactions that are properly exempt from registration under Section 4(2) or Regulation D of the 1933 Act, in which case you will make every effort to maintain such exemption and will notify us immediately

------

upon having a reasonable basis for believing that such exemption no longer applies or might not apply 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;&nbsp;&nbsp;&nbsp;&nbsp;2.1.6 The Contracts: (i) will be sold by broker-dealers, or their registered representatives, who are registered with the Securities and Exchange Commission ("SEC") under the Securities Exchange Act of 1934, as amended (the "1934 Act") and who are members in good standing of the Financial Industry Regulatory Authority ("FINRA"); (ii) will be issued and sold in compliance in all material respects with all applicable federal and state laws; and (iii) will be sold in compliance in all material respects with state insurance suitability requirements and FINRA suitability guidelines. Without limiting the foregoing, you agree that in recommending to a Contract owner the purchase, sale or exchange of any subaccount units under the Contracts, you shall have reasonable grounds for believing that the recommendation is suitable for such Contract owner and, to the extent such recommendations are made by broker-dealers not affiliated with you, you shall require in written agreements with such broker-dealers that they have reasonable grounds for believing that such recommendation is suitable for such Contract owner.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.1.7 The Contracts currently are treated as annuity contracts or life insurance contracts under applicable provisions of the Code and you will use your best efforts to maintain such treatment; you will notify us 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;&nbsp;&nbsp;&nbsp;&nbsp;2.1.8 You will use shares of the Trust only for the purpose of funding benefits of the Contracts through the Accounts.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.1.9 Contracts will not be sold outside of the United 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;&nbsp;&nbsp;&nbsp;&nbsp;2.1.10 With respect to any Accounts which are exempt from registration under the 1940 Act in reliance on Section 3(c)(1) or Section 3(c)(7) thereof:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.1.10.1 the principal underwriter for each such Account and any subaccounts thereof is a registered broker-dealer
with the SEC under the 1934 Act;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.1.10.2 the shares of the Portfolios of the Trust are and will continue to be the only investment securities held by
the corresponding subaccounts; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.1.10.3 with regard to each Portfolio, you, on behalf of the corresponding subaccount, will:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) vote such shares held by it in the same proportion as the vote of all other holders of such shares; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) refrain from substituting shares of another security for such shares unless the SEC has

------

approved such substitution in the manner provided in Section 26 of 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;2.1.11 As covered financial institutions we, only with respect to Portfolio shareholders, and you each undertake and agree to comply, and to take full responsibility in complying with any and all applicable laws, regulations, protocols and other requirements relating to money laundering including, without limitation, the International Money Laundering Abatement and Anti-Terrorist Financing Act of 2001 (Title III of the USA PATRIOT Act).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**2.2** **Representations and Warranties by the Trust** 

The Trust 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;&nbsp;&nbsp;&nbsp;&nbsp;2.2.1 It is duly organized and in good standing under the laws of the State of Delaware and its operations are and shall at all times remain in compliance with the laws of the State of Delaware.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.2.2 All of its directors, officers, employees and others dealing with the money and/or securities of a Portfolio are and shall 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 minimum coverage required by Rule 17g-1 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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.2.3 It 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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.2.4 Each class of shares of the Portfolios of the Trust is registered under the 1933 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;2.2.5 It will amend its 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.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.2.6 It will comply, in all material respects, with the 1933 and 1940 Acts and the rules and regulations 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;&nbsp;&nbsp;&nbsp;&nbsp;2.2.7 It is currently qualified as a "regulated investment company" under Subchapter M of the Code, it, including its respective employees, affiliates (including, but not limited to the investment adviser to the Trust), representatives and agents, will use best efforts to conduct their activities to maintain, such qualification, and will notify you 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;&nbsp;&nbsp;&nbsp;&nbsp;2.2.8 The Trust, including respective employees, affiliates (including, but not limited to the investment adviser to the Trust), representatives and agents, will use its best efforts to comply with the diversification requirements for variable annuity, endowment or life insurance contracts set forth in Section 817(h) of the Code, and the rules and regulations thereunder, including without limitation Treasury Regulation 1.817-5. Upon having a

------

reasonable basis for believing any Portfolio has ceased to comply and will not be able to comply within the grace period afforded by Regulation 1.817-5, the Trust will notify you immediately and will take all reasonable steps to adequately diversify the Portfolio to achieve compliance. Without limiting the foregoing, the parties agree and acknowledge that the Trust and its Portfolios are not insurance companies or variable contracts directly subject to Section 817(h) of the Code or the Treasury Regulations promulgated 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;&nbsp;&nbsp;&nbsp;&nbsp;2.2.9 It currently intends for one or more classes of shares (each, a "Class") to make payments to finance its distribution expenses, including service fees, pursuant to a plan ("Plan") adopted under rule 12b-1 under the 1940 Act ("Rule 12b-1"), although it may determine to discontinue such practice in the future subject to the provisions of Schedule F hereto. To the extent that any Class of the Trust finances its distribution expenses pursuant to a Plan adopted under rule 12b-1, the Trust undertakes to comply with any then current SEC interpretations concerning rule 12b-1 or any successor provisions.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.2.10 It has adopted a compliance program in accordance with Rule 38a-1 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;2.2.11 To the extent permitted under federal securities laws and the Trust's compliance policies, the Trust will provide the Company with as much advance notice as is reasonably practicable of any material change affecting the Portfolios (including, but not limited to, any material change in the registration statement or prospectus affecting the Portfolios) and any proxy solicitation affecting the Portfolios and to the extent reasonably practicable, work with the Company in order to implement any such change in an orderly manner, recognizing the expenses of changes and making reasonable efforts to attempting to minimize such expenses, where possible.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.2.12 Notwithstanding anything to the contrary set forth elsewhere in this Agreement, the Trust shall use commercially reasonable efforts to ensure that it conducts its business in a manner reasonably designed to ensure that no Contract owner shall be treated as the owner of any interest in a Portfolio for U.S. federal income tax purposes under the "investor control" doctrine, as described in Revenue Rulings 77-85, 80-274, 81-225, 82-54, 2003-91 and 2003-92(the "Investor Control Doctrine").

Without limiting the foregoing, the Trust shall use commercially reasonable efforts to cause the investment adviser to implement controls reasonably designed to prevent any employee of the investment adviser who gives investment advice to, or who makes investment decisions relating to, a Portfolio from (a) owning a Contract funded by the Portfolio and (b) communicating with any Contract owner regarding the quality or rate of return of any specific investment held by the Portfolio, or regarding any investment decision with respect to the Portfolio, portfolio management decision with respect to the Portfolio, or disposition of assets of the Portfolio.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**2.3** **Representations and Warranties by the Underwriter** 

The Underwriter represents and warrants that:

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.3.1 It is registered as a broker dealer with the SEC under the 1934 Act, and is a member in good standing of FINRA. The Underwriter further represents that it will sell and distribute the Trust shares in accordance with all applicable securities laws applicable to it, 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;&nbsp;&nbsp;&nbsp;&nbsp;2.3.2 Each investment adviser (each, an "Adviser") of a Portfolio, as indicated in the current prospectus of the Portfolio, is duly registered as an investment adviser under the Investment Advisers Act of 1940, as amended or exempt from such registration.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**2.4** **Warranty and Agreement by Both You and Us** 

We received an order from the SEC dated November 16, 1993 (file no. 812-8546), which was amended by a notice and an order we received on September 17, 1999 and October 13, 1999, respectively (file no. 812-11698) (collectively, the "Shared Funding Order," attached to this Agreement as Schedule H). The Shared Funding Order grants exemptions from certain provisions of the 1940 Act and the regulations thereunder to the extent necessary to permit shares of the Trust to be sold to and held by variable annuity and variable life insurance separate accounts of both affiliated and unaffiliated life insurance companies and qualified pension and retirement plans outside the separate account context.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.4.1 You and we both warrant and agree that both you and we will comply with the "Applicants' Conditions" prescribed in the Shared Funding Order as though such conditions were set forth verbatim in this Agreement, including, without limitation, the provisions regarding potential conflicts of interest between the separate accounts which invest in the Trust and regarding contract owner voting privileges. In order for the Trust's Board of Trustees to perform its duty to monitor for conflicts of interest, you agree to inform us of the occurrence of any of the events specified in condition 2 of the Shared Funding Order to the extent that such event may or does result in a material conflict of interest as defined in that order.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.4.2 As covered financial institutions we, only with respect to Portfolio shareholders, and you each undertake and agree to comply, and to take full responsibility in complying with any and all applicable laws, regulations, protocols and other requirements relating to money laundering including, without limitation, the International Money Laundering Abatement and Anti-Terrorist Financing Act of 2001 (Title III of the USA PATRIOT Act).

**3.**  **<u>Purchase and Redemption of Trust Portfolio Shares</u>** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**3.1** **Availability of Trust Portfolio 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;&nbsp;&nbsp;&nbsp;&nbsp;3.1.1 We will make shares of the Portfolios available to the Accounts for the benefit of the Contracts. The shares will be available for purchase by the Accounts at the net asset value per share next computed after we (or our agent, or you as our designee) receive a purchase order, as established in accordance with the provisions of the then current prospectus of the Trust. All such orders are subject to acceptance by us and by the Portfolio or its transfer agent, and become effective only upon confirmation by us. Notwithstanding the foregoing, the Trust's Board of Trustees ("Trustees") may refuse to sell shares of any Portfolio to any person, or may suspend or terminate the offering of shares of any Portfolio if such action is required by

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law or by regulatory authorities having jurisdiction or if, in the sole discretion of the Trustees, they deem such action to be 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;&nbsp;&nbsp;&nbsp;&nbsp;3.1.2 Without limiting the other provisions of this Section 3.1, among other delegations by the Trustees, the Trustees have determined that there is a significant risk that the Trust and its shareholders may be adversely affected by investors with short term trading activity and/or whose purchase and redemption activity follows a market timing pattern as defined in the prospectus for the Trust, and have authorized the Trust, the Underwriter and the Trust's transfer agent to adopt procedures and take other action (including, without limitation, rejecting specific purchase orders in whole or in part) as they deem necessary to reduce, discourage, restrict or eliminate such trading and/or market timing activity. You agree to use reasonable commercial efforts to review and identify activity that might be construed as market timing and to abide by the Trust's practices and policies by (i) restricting activity of any Contract owner identified by the Trust as a market timer upon receiving notice and request for such restriction from the Trust or (ii) taking any other action as may be otherwise reasonably requested by the Trust. You further agree to cooperate fully in the implementation and fulfillment of the Trust's obligations pursuant to Rule 22c-2 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;3.1.3 We agree that shares of the Trust will be sold only to: (i) life insurance companies which have entered into fund participation agreements with the Trust ("Participating Insurance Companies") and their separate accounts or to qualified pension and retirement plans in accordance with the terms of the Shared Funding Order; and (ii) investment companies in the form of funds of funds. No shares of any Portfolio will be sold to the general public.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**3.2** **Manual or Automated Portfolio Share Transactions** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.2.1 Section 3.3 of this Agreement shall govern and Section 3.4 shall not be operative, unless we receive from you at the address provided in the next sentence, written notice that you wish to communicate, process and settle purchase and redemptions for shares (collectively, "share transactions") via the Fund/SERV and Networking systems of the National Securities Clearing Corporation ("NSCC"). The address for you to send such written notice shall be: Retirement Services, Franklin Templeton Investments, 910 Park Place, 1<sup>st</sup> Floor, San Mateo, California 94403-1906. After giving ten (10) days' advance written notice at the address provided in the previous sentence of your desire to use NSCC processing, Section 3.4 of this Agreement shall govern and Section 3.3 shall not be operative.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.2.2 At any time when, pursuant to the preceding paragraph, Section 3.4 of this Agreement governs, any party to this Agreement may send written notice to the other parties that it chooses to end the use of the NSCC Fund/SERV and Networking systems and return to manual handling of share transactions. Such written notice shall be sent: (i) if from you to us, to the address provided in the preceding paragraph; (ii) if from us to you, to your address in Schedule G of this Agreement. After giving ten (10) days' advance written notice at the address as provided in the previous sentence, Section 3.3 of this Agreement shall govern and Section 3.4 shall not be operative.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**3.3** **Manual Purchase and Redemption** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.3.1 You are hereby appointed as our designee for the sole purpose of receiving from Contract owners purchase and exchange orders and requests for redemption resulting from investment in and payments under the Contracts that pertain to subaccounts that invest in Portfolios ("Instructions"). "Business Day" shall mean any day on which the New York Stock Exchange is open for trading and on which the Trust calculates its net asset value pursuant to the rules of the SEC and its current prospectus. "Close of Trading" shall mean the close of trading on the New York Stock Exchange, generally 4:00 p.m. Eastern Time. You represent and warrant that all Instructions transmitted to us for processing on or as of a given Business Day (the "Designated Day") shall have been received in proper form and time stamped by you prior to the Close of Trading on the Designated Day. Such Instructions shall receive the Portfolio share price next calculated following the Close of Trading on the Designated Day (the "Designated Day Price"), provided that we receive the Instructions from you before 9:00 a.m. Eastern Time on the Business Day following the Designated Day (the "Submission Time"). Any such Instructions that we receive after the Submission Time may, but are not guaranteed to, receive the Designated Day Price. You assume responsibility for any loss to a Portfolio caused by our receipt of Instructions after the Submission Time, including but not limited to, losses caused by such Instructions receiving the Designated Day Price, or any cancellation or correction made subsequent to the Submission Time. You will immediately pay the amount of such loss to a Portfolio upon notification by us. You represent and warrant that you have, maintain and periodically test, procedures and systems in place reasonably designed to prevent Instructions received after the Close of Trading on a Designated Day from being executed with Instructions received before the Close of Trading on that Designated Day.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.3.2 We shall calculate the net asset value per share of each Portfolio on each Business Day, and shall communicate these net asset values to you or your designated agent on a daily basis as soon as reasonably practical after the calculation is completed (normally by 6:30 p.m. Eastern 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;3.3.3 You shall submit payment for the purchase of shares of a Portfolio on behalf of an Account in federal funds transmitted by wire to the Trust or to its designated custodian, which must receive such wires no later than the close of the Reserve Bank, which is currently 6:00 p.m. Eastern Time, on the same Business Day on which such purchase orders are transmitted to us for processing on that Business Day in conformance with section 3.3.1.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.3.4 We will redeem any full or fractional shares of any Portfolio for cash, unless otherwise agreed to by the parties, when requested by you on behalf of an Account, at the net asset value next computed after receipt by us (or our agent or you as our designee) of the request for redemption, as established in accordance with the provisions of the then current prospectus of the Trust. We shall make payment for such shares in the manner we establish from time to time, but in no event shall payment be delayed for a greater period than is permitted by 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;3.3.5 Issuance and transfer of the Portfolio shares will be by book entry only. Stock certificates will not be issued to you or the Accounts. Portfolio shares purchased from the Trust will be recorded in the appropriate title for each Account or the appropriate subaccount of each Account. The Trust shall furnish to you the CUSIP number assigned to each 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;&nbsp;&nbsp;&nbsp;&nbsp;3.3.6 We shall furnish, on or before the ex-dividend date, notice to you of any income dividends or capital gain distributions payable to the Accounts on the shares of any Portfolio. You hereby elect to receive all such income dividends and capital gain distributions as are payable on shares of a Portfolio in additional shares of that Portfolio, and you reserve the right to change this election in the future. We will notify you 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;&nbsp;&nbsp;&nbsp;&nbsp;3.3.7 Each party to this Agreement agrees that, in the event of a material error resulting from incorrect information or confirmations, the parties will seek to comply in all material respects with the provisions of applicable federal securities laws.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**3.4** **Automated Purchase and Redemption** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.4.1 "Fund/SERV" shall mean NSCC's Mutual Fund Settlement, Entry and Registration Verification System, a system for automated, centralized processing of mutual fund purchase and redemption orders, settlement, and account registration; "Networking" shall mean NSCC's system that allows mutual funds and life insurance companies to exchange account level information electronically; and "Settling Bank" shall mean the entity appointed by the Trust or you, as applicable, to perform such settlement services on behalf of the Trust and you, as applicable, which entity agrees to abide by NSCC's then current rules and procedures insofar as they relate to same day funds settlement. In all cases, processing and settlement of share transactions shall be done in a manner consistent with applicable law.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.4.2 You are hereby appointed as our designee for the sole purpose of receiving from Contract owners purchase and exchange orders and requests for redemption resulting from investment in and payments under the Contracts that pertain to subaccounts that invest in Portfolios ("Instructions"). "Business Day" shall mean any day on which the New York Stock Exchange is open for trading and on which the Trust calculates its net asset value pursuant to the rules of the SEC and its current prospectus. "Close of Trading" shall mean the close of trading on the New York Stock Exchange, generally 4:00 p.m. Eastern Time. Upon receipt of Instructions, and upon your determination that there are good funds with respect to Instructions involving the purchase of shares, you will calculate the net purchase or redemption order for each 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;&nbsp;&nbsp;&nbsp;&nbsp;3.4.3 On each Business Day, you shall aggregate all purchase and redemption orders for shares of a Portfolio that you received prior to the Close of Trading. You represent and warrant that all orders for net purchases or net redemptions derived from Instructions received by you and transmitted to Fund/SERV for processing on or as of a given Business Day (the "Designated Day") shall have been received in proper form and time stamped by you prior to the Close of Trading on the Designated Day. Such orders shall receive the Portfolio share price next calculated following the Close of Trading on the Designated Day (the "Designated Day Price"), provided that we receive Instructions from Fund/SERV by 9:00 a.m. Eastern Time on the Business Day following the Designated Day (the "Submission Time"). Any such Instructions that we receive after the Submission Time may, but are not guaranteed to, receive the Designated Day Price. You assume responsibility for any loss to a Portfolio caused by our receipt of Instructions after the Submission Time including, but not limited to, losses caused by such Instructions receiving the Designated Day Price, or any cancellation or correction made subsequent to the Submission Time. You will immediately pay the amount of such loss to a Portfolio upon notification by us. You represent and warrant that you have, maintain and periodically test, procedures and systems in place reasonably designed to prevent Instructions received after the Close of Trading on a Designated Day from being executed with Instructions received before the Close of Trading on that Designated 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;3.4.4 We shall calculate the net asset value per share of each Portfolio on each Business Day, and shall furnish to you through NSCC's Networking or Mutual Fund Profile System: (i) the most current net asset value information for each Portfolio; and (ii) in the case of fixed income funds that declare daily dividends, the daily accrual or the interest rate factor. All such information shall be furnished to you by 6:30 p.m. Eastern Time on each Business Day or at such other time as that information becomes available.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.4.5 You will wire payment for net purchase orders by the Trust's NSCC Firm Number, in immediately available funds, to an NSCC settling bank account designated by you in accordance with NSCC rules and procedures on the same Business Day such purchase orders are communicated to NSCC. For purchases of shares of daily dividend accrual funds, those shares will not begin to accrue dividends until the day the payment for those shares is 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;&nbsp;&nbsp;&nbsp;&nbsp;3.4.6 We will redeem any full or fractional shares of any Portfolio for cash, unless otherwise agreed to by the parties, when requested by you on behalf of an Account, at the net asset value next computed after receipt by us (or our agent or you as our designee) of the request for redemption, as established in accordance with the provisions of the then current prospectus of the Trust. NSCC will wire payment for net redemption orders by the Trust, in

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immediately available funds, to an NSCC settling bank account designated by you in accordance with NSCC rules and procedures on the Business Day such redemption orders are communicated to NSCC, except as provided in the Trust's prospectus and statement of additional information.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.4.7 Issuance and transfer of the Portfolio shares will be by book entry only. Stock certificates will not be issued to you or the Accounts. Portfolio shares purchased from the Trust will be recorded in the appropriate title for each Account or the appropriate subaccount of each Account. The Trust shall furnish to you the CUSIP number assigned to each 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;&nbsp;&nbsp;&nbsp;&nbsp;3.4.8 We shall furnish through NSCC's Networking or Mutual Fund Profile System on or before the ex-dividend date, notice to you of any income dividends or capital gain distributions payable to the Accounts on the shares of any Portfolio. You hereby elect to receive all such income dividends and capital gain distributions as are payable on shares of a Portfolio in additional shares of that Portfolio, and you reserve the right to change this election in the future. We will notify you 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;&nbsp;&nbsp;&nbsp;&nbsp;3.4.9 All orders are subject to acceptance by Underwriter and become effective only upon confirmation by Underwriter. Underwriter reserves the right: (i) not to accept any specific order or part of any order for the purchase or exchange of shares through Fund/SERV; and (ii) to require any redemption order or any part of any redemption order to be settled outside of Fund/SERV, in which case the order or portion thereof shall not be "confirmed" by Underwriter, but rather shall be accepted for redemption in accordance with Section 3.4.11 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;&nbsp;&nbsp;&nbsp;&nbsp;3.4.10 All trades placed through Fund/SERV and confirmed by Underwriter via Fund/SERV shall settle in accordance with Underwriter's profile within Fund/SERV applicable to you. Underwriter agrees to provide you with account positions and activity data relating to share transactions via Networking.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.4.11 If on any specific day you or Underwriter are unable to meet the NSCC deadline for the transmission of purchase or redemption orders for that day, a party may at its option transmit such orders and make such payments for purchases and redemptions directly to you or us, as applicable, as is otherwise provided in the Agreement; provided, however, that we must receive written notification from you by 9:00 a.m. Eastern Time on any day that you wish to transmit such orders and/or make such payments directly to us.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.4.12 In the event that you or we are unable to or prohibited from electronically communicating, processing or settling share transactions via Fund/SERV, you or we shall notify the other, including providing the notification provided above in Section 3.4.11. After all parties have been notified, you and we shall submit orders using manual transmissions as are otherwise provided in the 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;&nbsp;&nbsp;&nbsp;&nbsp;3.4.13 These procedures are subject to any additional terms in each Portfolio's prospectus and the requirements of applicable law. The Trust reserves the right, at its discretion and without notice, to suspend the sale of shares or withdraw the sale of shares of any Portfolio.

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The Trust will use best efforts to provide advance notice to you of any suspension or withdrawal of the sale of shares of any 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;&nbsp;&nbsp;&nbsp;&nbsp;3.4.14 Each party to the Agreement agrees that, in the event of a material error resulting from incorrect information or confirmations, the parties will seek to comply in all material respects with the provisions of applicable 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;&nbsp;&nbsp;&nbsp;&nbsp;3.4.15 You and Underwriter represent and warrant that each: (a) has entered into an agreement with NSCC; (b) has met and will continue to meet all of the requirements to participate in Fund/SERV and Networking; (c) intends to remain at all times in compliance with the then current rules and procedures of NSCC, all to the extent necessary or appropriate to facilitate such communications, processing, and settlement of share transactions; and (d) will notify the other parties to this Agreement if there is a change in or a pending failure with respect to its agreement with NSCC.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.5 **Monthly Statements.** We shall use best efforts to provide monthly statements of account as of the end of each month for all of Company's accounts by the fifteenth (15) Business Day of the following month.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.6 **Pricing Errors.** The parties acknowledge that certain events, including, but not limited to, fair valuation, computer system failures, and natural catastrophes may delay the delivery of or require revision to the NAV. In the event of an error in the computation of a Portfolio's NAV per share or any dividend or capital gain distribution, (each a "pricing error"), the Underwriter shall notify the Company as soon as possible after discovery of the error. Such notification may be verbal, but shall be confirmed promptly in writing. A pricing error shall be corrected as follows:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a) If the pricing error results in a difference between the erroneous NAV or dividend or capital gain per share
and the correct NAV or dividend or capital gain per share of less than $0.01 per share, then no corrective action need be taken.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b) If the pricing error results in a difference between the erroneous NAV or dividend or capital gain per share
and the correct NAV or dividend or capital gain per share equal to or greater than $0.01 per share, but less than 1/2 of 1% of the designated Portfolio's NAV at the time of the error, then the Trust shall take all necessary steps to obtain
reimbursement for any loss from any party responsible for pricing error ("Responsible Party") after taking into consideration any positive effect of such error; however, no adjustments to a Contract owner's accounts need be made.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;c) If the pricing error results in a difference between the erroneous NAV or dividend or capital gain per share
and the correct NAV or dividend or capital gain per share equal to or greater than 1/2 of 1% of the Portfolio's NAV at the time of the error, then the Trust shall take all necessary steps to obtain reimbursement for any loss from the
Responsible Party (without taking into consideration any positive effect of such error) and shall reimburse the Company for the reasonable administrative and/or system costs of adjustments made to correct a Contract owner's accounts.

With respect to (c) above, if an adjustment is necessary to correct a pricing error that has caused Contract owners to receive less than the amount to which they are entitled, the number

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of shares of the applicable sub-account of such Contract owners will be adjusted and the amount of any underpayments shall be credited by the Trust to the Company for crediting of such amounts to the applicable Contract owner accounts, and the Company shall be reimbursed for any reasonable expenses incurred related to correction of the NAV (including correcting Contract owner account) except under circumstances in which the Company is the Responsible Party. Upon notification by the Trust of any overpayment due to a pricing error, the Company shall promptly remit to the Trust any overpayment that has not been paid to Contract owners and shall be reimbursed by the Trust for any reasonable expenses incurred related to such actions except under circumstances in which the Company is the Responsible Party. Except under circumstances in which the Company is the Responsible Party, in no event shall the Company be liable to Contract owners for any such adjustments or underpayment amounts.

The standards set forth in this Section 3.6 are based on the parties' understanding of the views expressed by the staff of the SEC as of the date of this Agreement. In the event the views of the SEC staff are later modified or superseded by SEC or judicial interpretation, the parties shall amend the foregoing provisions of this Agreement to comport with the appropriate applicable standards, on terms mutually satisfactory to all parties.

**4.**  **<u>Fees, Expenses, Prospectuses, Proxy Materials and Reports</u>** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.1 We shall pay no fee or other compensation to you under this Agreement except as provided on Schedule F, if attached.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.2 We shall prepare and be responsible for filing with the SEC, and any state regulators requiring such filing, all shareholder reports, notices, proxy materials (or similar materials such as voting instruction solicitation materials), prospectuses (including statutory and summary prospectuses) and statements of additional information of the Trust. We shall bear the costs of preparation and filing of the documents listed in the preceding sentence, registration and qualification of the Trust's shares of the Portfolios.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.3 We shall use reasonable efforts to provide you, on a timely basis, with such information about the Trust, the Portfolios and each Adviser, in such form as you may reasonably require, as you shall reasonably request in connection with the preparation of disclosure documents and annual and semi-annual reports pertaining to the Contracts.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.4 "<u>Designated Portfolio Document</u>" means the following documents we create with respect to each Portfolio and provide to you: (1) a Portfolio's prospectus, including a summary prospectus (together, "Prospectus") if the Trust chooses to create one for a Portfolio and we and you have signed the necessary Participation Agreement Addendum; (2) its annual report to shareholders; (3) its semi-annual report to shareholders; (4) amendments or supplements to any of the foregoing if we direct you to deliver them to Contract owners; and (5) other shareholder communications including, without limitation, proxy statements, if we direct you to deliver them to Contract owners.

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"<u>Document Event</u>" means (1) with respect to the Prospectus (including the statement of additional information), the effectiveness of a new annual post-effective amendment to the Prospectus to update financial statements and make other disclosure changes or other post-effective amendment to the Prospectus; (2) with respect to the Trust's annual report and semi-annual reports to shareholders, the Trust's creation of reports intended to satisfy the requirements of Section 30(a) of the 1940 Act applicable to the Trust; or (3) with respect to amendments or supplements to any of the foregoing or other shareholder communications, the Trust's creation of such documents and provision of them to you.

"<u>Printing Expenses</u>" means expenses of the physical creation of Designated Portfolio Documents, and not of their distribution to Contract owners (including, without limitation, mailing and postage expenses) or the provision of other services.

Each time there is a Document Event with respect to a Designated Portfolio Document we shall, at your option, provide you with one of the following:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) one copy of the applicable Designated Portfolio Document for each Contract owner with investments allocated
to a subaccount corresponding to the Portfolio before the date of the Designated Portfolio Document (the "Contract Owner Recipients"); or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2) a copy suitable for reproduction of such Designated Portfolio Document, in which case we will reimburse you,
as provided below under "Reimbursement Procedures," for Printing Expenses you incur to create Designated Portfolio Documents in sufficient quantity so that one such Designated Portfolio Document is available for you to have delivered to
each Contract Owner Recipient; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3) a copy of the Designated Portfolio Document in 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;(a) 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);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) permit persons accessing the Portfolio's statutory prospectus, summary 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);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) are compliant with applicable provisions of the Americans with Disabilities Act ("ADA
Compliant"); and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) permit persons accessing the Designated Portfolio Documents to permanently retain, free of charge, an
electronic version of such Designated Portfolio Documents that meet the requirements of subparagraphs (h)(2)(i) and (ii) of Rule 498A (in accordance with

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paragraph (h)(3) of Rule 498A).

*<u>Reimbursement Procedures</u>*

*<u>Routine Reimbursements</u>.* Within six months following the delivery date of the Designated Portfolio Document ("Delivery Date"), we must receive your request for reimbursement and: (i) a statement of the number of Contract Owner Recipients; (ii) copies of all printing company invoices applicable to the Printing Expenses that you request we reimburse; (iii) a description of the methodology used to determine the amount of reimbursement requested; and (iv) your representation that the reimbursement request covers only Printing Expenses covered by Section 4.4 of this Agreement; the date we have received all these items is the "Request Date." If we are able to validate your request based on the information you provided as well as, among other things we believe to be appropriate, our analysis of your previous reimbursement requests, if applicable, and/or third party industry benchmarking information, then we will reimburse you within sixty days of the Request Date.

*<u>Reimbursements requiring additional information</u>*. If we cannot validate your reimbursement request based on the information you have provided to us and our analysis described in the preceding paragraph, then we will request additional information from you and work with you to validate your request.

*<u>Expenses not subject to reimbursement</u>*. We will not reimburse expenses related to: (1) creation or provision of any Designated Portfolio Document for or to a person who is not a Contract Owner Recipient of such document; (2) creation or provision of any Designated Portfolio Document to a person accompanying, or at the time of the delivery of, a confirmation of their purchase of or exchange into subaccount shares corresponding to a Portfolio; (3) posting any Designated Portfolio Document on your website; or (4) electronic filing of Designated Portfolio Documents or other documents with the Securities and Exchange Commission (using its EDGAR or other system).

*<u>Statement of Additional Information</u>*. We shall provide you with a copy of the Trust's current statement of additional information, including any amendments or supplements to it ("SAI), in a form suitable for reproduction , but we will not pay Printing Expenses or other expenses with respect to the SAI.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.5 We shall use best efforts to provide the statutory and summary prospectuses and statements of additional information of the Trust to the Company no later than fourteen (14) business days prior to May 1 of each year (to facilitate the required website posting) and provide updated versions as necessary in order to facilitate a continuous offering of the Trust's shares of the Portfolios. We shall use best efforts to provide the semi-annual and annual shareholder reports to the Company no later than seven (7) business days before the date each time the

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shareholder reports are required to be posted by Rule 30e-3 (to facilitate the required website posting).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.6 We shall provide you, at our expense, with copies of any Trust-sponsored proxy materials in such quantity as you shall reasonably require for distribution to Contract owners who are invested in a designated subaccount. You shall bear the costs of distributing proxy materials (or similar materials such as voting solicitation instructions) to Contract owners.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.7 You assume sole responsibility for ensuring that the Trust's Designated Portfolio Documents and proxy materials are delivered to Contract owners in accordance with applicable federal and state securities laws. For Designated Portfolio Documents and other Trust materials provided by you on your website or by other electronic means, you assume sole responsibility for ensuring that such delivery is in compliance with applicable state and federal requirements pertaining to electronic delivery, including consent, access, searchability by users, notice and evidence of delivery.

**5.**  **<u>Voting</u>** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.1 All Participating Insurance Companies shall have the obligations and responsibilities regarding pass-through voting and conflicts of interest corresponding to those contained in the Shared Funding Order.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.2 If and to the extent required by law, you shall: (i) solicit voting instructions from Contract owners; (ii) vote the Trust shares in accordance with the instructions received from Contract owners; and (iii) vote Trust shares owned by subaccounts for which no instructions have been received from Contract owners in the same proportion as Trust shares of such Portfolio for which instructions have been received from Contract 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. You reserve the right to vote Trust shares held in any Account in your own right, to the extent permitted by law.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.3 So long as, and to the extent that, the SEC interprets the 1940 Act to require pass-through voting privileges for Contract owners, you shall provide pass-through voting privileges to Contract owners whose Contract values are invested, through the Accounts, in shares of one or more Portfolios of the Trust. We shall require all Participating Insurance Companies to calculate voting privileges in the same manner and you shall be responsible for assuring that the Accounts calculate voting privileges in the manner established by us. With respect to each Account, you will vote shares of each Portfolio of the Trust held by an Account and for which no timely voting instructions from Contract owners are received in the same proportion as those shares held by that Account for which voting instructions are received. You and your agents will in no way recommend or oppose or interfere with the solicitation of proxies for Portfolio shares held to fund the Contracts without our prior written consent, which consent may be withheld in our sole discretion.

**6.**  **<u>Sales Material, Information and Trademarks</u>** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.1 "<u>Sales Literature/ Promotional Material</u>" includes, but is not limited to, portions of the following that use any logo or other trademark related to the Trust, or Underwriter or its

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affiliates, or refer to the Trust: 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, web-sites and other electronic communications 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 or any other advertisement, sales literature or published article or electronic communication), educational or training materials or other communications distributed or made generally available to some or all agents or employees in any media, and disclosure documents, shareholder reports and proxy materials. "<u>Disclosure Documents</u>" shall mean each item of the following if prepared, approved or used by you and relating to a Contract, an Account, or a Portfolio, and any amendments or revisions to such document: registration statements, prospectuses, statements of additional information, private placement memoranda, retirement plan disclosure information or other disclosure documents or similar information, as well as any solicitation for voting instructions.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.2 You may use the name of the Trust and trademarks and the logo of the Underwriter in Sales Literature/Promotional Material as reasonably necessary to carry out your performance and obligations under this Agreement provided that you comply with the provisions of this Agreement. You agree to abide by any reasonable use guidelines regarding use of such trademarks and logos that we may give from time to time. You shall, as we may request from time to time, promptly furnish, or cause to be furnished to us or our designee, one complete copy of each item of the following: (i) Sales Literature/Promotional Material prepared, approved or used by you; and (ii) Disclosure Documents.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.4 You agree, represent and warrant that you are solely responsible for any Sales Literature/ Promotional Material prepared by you and that such material will: (a) conform to all requirements of any applicable laws or regulations of any government or authorized agency having jurisdiction over the offering or sale of shares of the Portfolios or Contracts; (b) be solely based upon and not contrary to or inconsistent with the written information or materials provided to you by us or a Portfolio, including the Trust's prospectus and statement of additional information; and (c) be made available promptly to us upon our request. You agree to file any Sales Literature/Promotional Material prepared by you with FINRA, or other applicable legal or regulatory authority, within the timeframes that may be required from time to time by FINRA or such other legal or regulatory authority. Unless otherwise expressly agreed to in writing, it is understood that we will neither review nor approve for use any materials prepared by you and will not be materially involved in the preparation of, or have any

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responsibility for, any such materials prepared by you. You are not authorized to modify or translate any materials we have provided to you.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.5 Other than naming you as a Trust shareholder, we shall not give any information or make any representations or statements on behalf of you or concerning you, the Accounts or the Contracts other than information or representations contained in and accurately derived from Disclosure Documents (as such Disclosure Documents may be amended or supplemented from time to time), or in materials approved by you for distribution, including Sales Literature/ Promotional Material, except as required by legal process or regulatory authorities or with your written permission.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.6 Except as provided in Section 6.2, you shall not use any designation comprised in whole or part of the names or marks "Franklin" or "Templeton" or any logo or other trademark relating to the Trust or the Underwriter without prior written consent, and upon termination of this Agreement for any reason, you shall cease all use of any such name or mark as soon as reasonably practicable.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.7 You shall furnish to us ten (10) Business Days prior to its first submission to the SEC or its staff, any request or filing for no-action assurance or exemptive relief naming, pertaining to, or affecting, the Trust, the Underwriter or any of the Portfolios.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.8 You agree that any posting of Designated Portfolio Documents on your website or use of Designated Portfolio Documents in any other electronic format will result in the Designated Portfolio Documents: (i) appearing identical to the hard copy printed version or .pdf format file provided to you by us (except that you may reformat .pdf format prospectus files in order to delete blank pages and to insert .pdf format prospectus supplement files provided by us to you); (ii) being clearly associated with the particular Contracts in which they are available and posted in close proximity to the applicable Contract prospectuses; (iii) having no less prominence than prospectuses of any other underlying funds available under the Contracts; (iv) in compliance with any statutory prospectus delivery requirements and (v) being used in an authorized manner. Notwithstanding the above, you understand and agree that you are responsible for ensuring that participation in the Portfolios, and any website posting, or other use, of the Designated Portfolio Documents is in compliance with this Agreement and applicable state and federal securities and insurance laws and regulations, including as they relate to paper or electronic delivery or use of fund prospectuses. We reserve the right to inspect and review your website if any Designated Portfolio Documents and/or other Trust documents are posted on your website and you shall, upon our reasonable request, provide us timely access to your website materials to perform such inspection and review.

In addition, you agree to be solely responsible for maintaining and updating the Designated Portfolio Documents' .pdf files and removing and/or replacing promptly any outdated prospectuses and other documents, as necessary, ensuring that any accompanying instructions by us, for using or stopping use, are followed. You agree to designate and make available to us a person to act as a single point of communication contact for these purposes. We are not responsible for any additional costs or additional liabilities that may be incurred as a result of your election to place the Designated Portfolio Documents on your website.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.9 Each of your registered representatives, agents, independent contractors and employees, as applicable, may have access to our websites at franklintempleton.com, and such other URLs through which we may permit you to conduct business concerning the Portfolios from time to time (referred to collectively as the "Site") as provided herein: (i) upon registration by such individual on a Site, (ii) if you cause a Site Access Request Form (an "Access Form") to be signed by your authorized supervisory personnel and submitted to us, as a Schedule to, and legally a part of, this Agreement, and (iii) if you provide such individual with the necessary access codes or other information necessary to access the Site through any generic or firm-wide authorization we may grant you from time to time. Upon receipt by us of a completed registration submitted by an individual through the Site or a signed Access Form referencing such individual, we shall be entitled to rely upon the representations contained therein as if you had made them directly hereunder and we will issue a user identification, express number and/or password (collectively, "Access Code"). Any person to whom we issue an Access Code or to whom you provide the necessary Access Codes or other information necessary to access the Site through any generic or firm-wide authorization we may grant you from time to time shall be an "Authorized User."

We shall be entitled to assume that such person validly represents you and that all instructions received from such person are authorized, in which case such person will have access to the Site, including all services and information to which you are authorized to access on the Site. All inquiries and actions initiated by you (including your Authorized Users) are your responsibility, are at your risk and are subject to our review and approval (which could cause a delay in processing). You agree that we do not have a duty to question information or instructions you (including Authorized Users) give to us under this Agreement, and that we are entitled to treat as authorized, and act upon, any such instructions and information you submit to us. You agree to take all reasonable measures to prevent any individual other than an Authorized User from obtaining access to the Site. You agree to inform us if you wish to restrict or revoke the access of any individual Access Code. If you become aware of any loss or theft or unauthorized use of any Access Code, you agree to contact us immediately. You also agree to monitor your (including Authorized Users') use of the Site to ensure the terms of this Agreement are followed. You also agree that you will comply with all policies and agreements concerning Site usage, including without limitation the Terms of Use Agreement(s) posted on the Site ("Site Terms"), as may be revised and reposted on the Site from time to time, and those Site Terms (as in effect from time to time) are a part of this Agreement. Your duties under this section are considered "services" required under the terms of this Agreement. You acknowledge that the Site is transmitted over the Internet on a reasonable efforts basis and we do not warrant or guarantee their accuracy, timeliness, completeness, reliability or non-infringement. Moreover, you acknowledge that the Site is provided for informational purposes only, and is not intended to comply with any requirements established by any regulatory or governmental agency.

**7.**  **<u>Indemnification</u>** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**7.1** **Indemnification By You** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.1.1 You agree to indemnify and hold harmless the Underwriter, the Trust and each of its Trustees, officers, employees and agents and each person, if any, who controls

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the Trust within the meaning of Section 15 of the 1933 Act (collectively, the "Indemnified Parties" and individually the "Indemnified Party" for purposes of this Section 7) against any and all losses, claims, damages, liabilities (including amounts paid in settlement with your written consent, which consent shall not be unreasonably withheld) or expenses (including the reasonable costs of investigating or defending any alleged loss, claim, damage, liability or expense and reasonable legal counsel fees incurred in connection therewith) (collectively, "Losses"), to which the Indemnified Parties may become subject under any statute or regulation, or at common law or otherwise, insofar as such Losses are related to the sale or acquisition of shares of the Trust 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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.1.1.1 arise out of or are based upon any untrue statements or alleged untrue statements of any material fact contained in a Disclosure Document for the Contracts or in the Contracts themselves or in sales literature generated or approved by you on behalf of the Contracts or Accounts (or any amendment or supplement to any of the foregoing) (collectively, "Company Documents" for the purposes of this Section 7), 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 indemnity 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 was accurately derived from written information furnished to you by or on behalf of the Trust for use in Company Documents 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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.1.1.2 arise out of or result from statements or representations (other than statements or representations contained in and accurately derived from Trust Documents as defined below in Section 7.2) or wrongful conduct of you or persons under your control, with respect to the sale or acquisition 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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.1.1.3 arise out of or result from any untrue statement or alleged untrue statement of a material fact contained in Trust Documents as defined below in Section 7.2 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 accurately derived from written information furnished to the Trust by or on behalf of you; 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;&nbsp;&nbsp;&nbsp;&nbsp;7.1.1.4 arise out of or result from any failure by you to provide the services or furnish the materials required under the terms 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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.1.1.5 arise out of or result from any material breach of any representation and/or warranty made by you in this Agreement or arise out of or result from any other material breach of this Agreement by you;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.1.1.6 arise out of or result from a Contract failing to be considered a life insurance policy or an annuity Contract, whichever is appropriate, under applicable provisions of the Code thereby depriving the Trust of its compliance with Section 817(h) of the Code provided that the Company makes no representation or undertaking to the extent such treatment depends on compliance by the Trust or any Portfolio with applicable provisions of the Code; or

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.1.1.7 arise out of or result from any failure by you to satisfy requirements, including but not limited to compliance with all applicable laws, relating to your electronic delivery of Designated Portfolio Documents or your making such documents available on-line.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.1.2 You shall not be liable under this indemnification provision with respect to any Losses 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 Trust or Underwriter, whichever is applicable. You shall also not be liable under this indemnification provision with respect to any claim made against an Indemnified Party unless such Indemnified Party shall have notified you 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 you of any such claim shall not relieve you 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, you shall be entitled to participate, at your own expense, in the defense of such action. Unless the Indemnified Party releases you from any further obligations under this Section 7.1, you also shall be entitled to assume the defense thereof, with counsel satisfactory to the party named in the action. After notice from you to such party of your election to assume the defense thereof, the Indemnified Party shall bear the fees and expenses of any additional counsel retained by it, and you 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.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.1.3 The Indemnified Parties will promptly notify you of the commencement of any litigation or proceedings against them in connection with the issuance or sale of the Trust shares or the Contracts or the operation of the Trust.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**7.2** **Indemnification By 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;&nbsp;&nbsp;&nbsp;&nbsp;7.2.1 The Underwriter agrees to indemnify and hold harmless you, and each of your directors and officers and each person, if any, who controls you within the meaning of Section 15 of the 1933 Act (collectively, the "Indemnified Parties" and individually an "Indemnified Party" 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 Underwriter, which consent shall not be unreasonably withheld) or expenses (including the reasonable costs of investigating or defending any alleged loss, claim, damage, liability or expense and reasonable legal counsel fees incurred in connection therewith) (collectively, "Losses") to which the Indemnified Parties may become subject under any statute, at common law or otherwise, insofar as such Losses are related to the sale or acquisition by the Accounts of the shares of the Trust 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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.2.1.1 arise out of or are based upon any untrue statements or alleged untrue statements of any material fact contained in the Registration Statement, prospectus or sales literature of the Trust (or any amendment or supplement to any of the foregoing)

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(collectively, the "Trust 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, provided that this agreement to indemnify shall not apply as to any Indemnified Party if such statement or omission of such alleged statement or omission was made in reliance upon and in conformity with information furnished to us by or on behalf of you for use in the Registration Statement or prospectus for the Trust or in sales literature (or any amendment or supplement) 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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.2.1.2 arise out of or as a result of statements or representations (other than statements or representations contained in the Disclosure Documents or sales literature for the Contracts not supplied by the Underwriter or persons under its control) or wrongful conduct of the Trust, Adviser or Underwriter or persons under their control, with respect to the sale or distribution of the Contracts or Trust shares to the Accounts; 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;&nbsp;&nbsp;&nbsp;&nbsp;7.2.1.3 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 information furnished to you by or on behalf of 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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.2.1.4 arise as a result of any failure by us 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 representation specified above in Section 2.2.7, the diversification requirements specified above in Section 2.2.8 and the investor control representations specified above in Section 2.2.12); 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;&nbsp;&nbsp;&nbsp;&nbsp;7.2.1.5 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 7.2.2 and 7.2.3 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;&nbsp;&nbsp;&nbsp;&nbsp;7.2.2 The Underwriter shall not be liable under this indemnification provision with respect to any Losses 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 you or the Accounts, whichever is applicable.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.2.3 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

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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. Unless the Indemnified Party releases the Underwriter from any further obligations under this Section 7.2, 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 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.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.2.4 You agree promptly to notify the Underwriter of the commencement of any litigation or proceedings against you or the Indemnified Parties 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;**7.3** **Indemnification 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;&nbsp;&nbsp;&nbsp;&nbsp;7.3.1 The Trust agrees to indemnify and hold harmless you, and each of your directors and officers and each person, if any, who controls you within the meaning of Section 15 of the 1933 Act (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 Trust, which consent shall not be unreasonably withheld) 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 Trust, and arise out of or result from any material breach of any representation and/or warranty made by the Trust in this Agreement or arise out of or result from any other material breach of this Agreement by the Trust; as limited by and in accordance with the provisions of Sections 7.3.2 and 7.3.3 hereof. It is understood and expressly stipulated that neither the holders of shares of the Trust nor any Trustee, officer, agent or employee of the Trust shall be personally liable hereunder, nor shall any resort be had to other private property for the satisfaction of any claim or obligation hereunder, but the Trust only shall be liable.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.3.2 The Trust shall not be liable under this indemnification provision with respect to any losses, claims, damages, liabilities or litigation incurred or assessed against any 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 you, the Trust, the Underwriter or each Account, whichever is applicable.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.3.3 The Trust 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 Trust in writing within a reasonable time after the summons or other first legal process giving information of the nature of the claims 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 Trust of any such claim shall not relieve the Trust from any liability which it may have to the Indemnified Party against whom such action

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is brought otherwise than on account of this indemnification provision. In case any such action is brought against the Indemnified Parties, the Trust will be entitled to participate, at its own expense, in the defense thereof. Unless the Indemnified Party releases the Trust from any further obligations under this Section 7.3, the Trust also shall be entitled to assume the defense thereof, with counsel satisfactory to the party named in the action. After notice from the Trust to such party of the Trust'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 Trust 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.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.3.4 You agree promptly to notify the Trust of the commencement of any litigation or proceedings against you or the Indemnified Parties in connection with this Agreement, the issuance or sale of the Contracts, with respect to the operation of the Account, or the sale or acquisition of shares of the Trust.

**8.**  **<u>Notices</u>** 

Any notice, except for those provided in Sections 3.2.1 and 3.2.2 of the Agreement, shall be sufficiently given when sent by registered or certified mail, or by nationally recognized overnight courier services, to the other party at the address of such party set forth in Schedule G below or at such other address as such party may from time to time specify in writing to the other party.

**9.**  **<u>Termination</u>** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.1 This Agreement may be terminated by mutual agreement at any time. If this Agreement is so terminated, we shall, at your option, continue to make available additional shares of any Portfolio and redeem shares of any Portfolio for any or all Contracts or Accounts existing on the effective date of termination of this Agreement, pursuant to the terms and conditions of this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.2 This Agreement may be terminated by any party in its entirety or with respect to one, some or all Portfolios for any reason by ninety (90) days' advance written notice delivered to the other parties, unless a shorter time is agreed to by all parties. If this Agreement is so terminated, we shall, at the option of the Company, continue to make available additional shares of any Portfolio and redeem shares of any Portfolio for any or all Contracts or Accounts existing on the effective date of termination of this Agreement, pursuant to the terms and conditions of this Agreement; If termination by you occurs in connection with the substitution of securities, as provided for in Section 26(c) of the 1940 Act, advance written notice to us shall be no later than the date of the filing of the application for approval of the proposed substitution of securities.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.3 This Agreement may be terminated immediately by us upon written notice to you if you materially breach any of the representations and warranties made in this Agreement or you are materially in default in the performance of any of your duties or obligations under the Agreement, receive a written notice thereof and fail to remedy such default or breach to our

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reasonable satisfaction within 30 days after such notice. If this Agreement so terminates, the parties shall cooperate to effect an orderly windup of the business which may include, at our option, a redemption of the Portfolio shares held by the Accounts, *provided* that such redemption shall not occur prior to a period of up to six (6) months following written notice of termination, during which time we will cooperate reasonably with you in effecting a transfer of Portfolio assets to another underlying fund pursuant to any legal and appropriate means.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.4 This Agreement may be terminated immediately by you upon written notice to us if we materially breach any of the representations and warranties made in this Agreement or are materially in default in the performance of any of our duties or obligations under the Agreement, receive a written notice thereof and fail to remedy such default or breach to your reasonable satisfaction within 30 days after such notice. If this Agreement so terminates, the parties shall cooperate to effect an orderly windup of the business which may include, at your option, a redemption of the Portfolio shares held by the Accounts, *provided* that such redemption shall not occur prior to a period of up to six (6) months following written notice of termination, during which time you will cooperate reasonably with us in effecting a transfer of Portfolio assets to another underlying fund pursuant to any legal and appropriate means.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.5 This Agreement may be terminated by us upon ten business days' written notice to you if, with respect to the representations and warranties made in sections 2.1.3, 2.1.5, 2.1.7 and 2.4.2 of this Agreement: (i) you inform us that any of such representations and warranties may no longer be true or might not be true in the future; or (ii) any of such representations and warranties were not true on the effective date of this Agreement, are at any time no longer true, or have not been true during any time since the effective date of this Agreement; provided that we may terminate this Agreement upon lesser written notice (including immediately) if we reasonably determine that failure to do so could result in substantial liability to the Trust or any Portfolio. If this Agreement is so terminated, the Trust may redeem the Portfolio shares held by the Accounts on the effective date of termination of this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.6 This Agreement may be terminated by the Board of Trustees of the Trust, in the exercise of its fiduciary duties, either upon its determination that such termination is a necessary and appropriate remedy for either: (1) a finding of a material breach of this Agreement which includes a violation of laws, as determined by the Board in its sole judgement exercised in good faith or (2) upon its determination to completely liquidate all Portfolios. Pursuant to such termination, the Trust may redeem the Portfolio shares held by the Accounts on the effective date of termination of this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.7 This Agreement shall terminate immediately in the event of its assignment by any party without the prior written approval of the other parties, or as otherwise required by law. If this Agreement is so terminated due to an assignment by you without the prior approval by the Trust, the Trust may redeem the Portfolio shares held by the Accounts on the effective date of termination of this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.8 This Agreement shall be terminated as required by the Shared Funding Order, and its provisions shall govern.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.9 This Agreement may be terminated at the option of any party, if that party shall determine, in its sole judgment exercised in good faith, that any other party to this Agreement 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 and that such material adverse change or material adverse publicity will have a material adverse impact upon the business and operations of the terminating party; but no such termination shall be effective until the party that has suffered the adverse change or adverse publicity or any other changes in circumstances has been provided with 30 days advance notice by the terminating party of its intent to terminate the Agreement, has been afforded a reasonable opportunity to respond to a statement by the terminating party concerning the reason for notice of termination and the terminating party has determined after considering the actions of the party suffering the adverse change or adverse publicity that its determination to terminate shall continue to apply at which time the termination effective date shall be the 30<sup>th</sup> day after which notice was provided by the terminating party.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.10 At the option of the Trust or the Underwriter in the event that formal administrative proceedings are instituted against the Company by FINRA, the SEC, the Insurance Commissioner of any state or any other regulatory body regarding the Company's duties under this Agreement or related to the sales of the Contracts, with respect to the operation of any Account, or the purchase of the Trust shares, provided, however, that the Trust or the 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 Company to perform its obligations under this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.11. At the option of the Company in the event that formal administrative proceedings are instituted against the Trust or Underwriter by FINRA, the SEC, or any state securities or insurance department or any other regulatory body in respect of the sale of shares of the Trust to the Company, provided, however, that the Company 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 Trust or Underwriter to perform its obligations under this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.12 The provisions of Section 2 (Representations and Warranties), Section 7 (Indemnification) and Schedule F (12b-1 fees) shall survive the termination of this Agreement. All other applicable provisions of this Agreement shall survive the termination of this Agreement, as long as shares of the Trust are held on behalf of Contract owners, except that we shall have no further obligation to sell Trust shares with respect to Contracts issued after termination.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.13 You shall not redeem Trust shares attributable to the Contracts (as opposed to Trust shares attributable to your 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"); or (iii) as permitted pursuant to Section 26(c) of the 1940 Act.

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**10.**  **<u>Miscellaneous</u>** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10.1 The captions in this Agreement are included for convenience of reference only and in no way define or delineate any of the provisions of this Agreement or otherwise affect their construction or effect.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10.2 This Agreement may be executed simultaneously in two or more counterparts, all of which taken together shall constitute one and the same instrument.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10.3 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;10.4 This Agreement shall be construed and its provisions interpreted under and in accordance with the laws of the State of California. It shall also be subject to the provisions of the federal securities laws and the rules and regulations thereunder, to any orders of the SEC on behalf of the Trust granting it exemptive relief, and to the conditions of such orders. We shall promptly forward copies of any such orders to you.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10.5 The parties to this Agreement acknowledge and agree that all liabilities of the Trust arising, directly or indirectly, under this Agreement, of any and every nature whatsoever, shall be satisfied solely out of the assets of the Trust and that no Trustee, officer, agent or holder of shares of beneficial interest of the Trust shall be personally liable for any such liabilities.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10.6 The parties to this Agreement agree that the assets and liabilities of each Portfolio of the Trust are separate and distinct from the assets and liabilities of each other Portfolio. No Portfolio shall be liable or shall be charged for any debt, obligation or liability of any other Portfolio.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10.7 Each party to this Agreement shall cooperate with each other party, the other party's independent auditors, and all appropriate governmental authorities (including without limitation the SEC, FINRA, and state insurance regulators) and shall permit such independent auditors and 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;10.8 Each party shall treat as confidential all information of the other party which the parties agree in writing is confidential ("Confidential Information"). Except as permitted by this Agreement or as required by appropriate governmental authority (including, without limitation, the SEC, FINRA, or state securities and insurance regulators) the receiving party shall not disclose or use Confidential Information of the other party before it enters the public domain, without the express written consent of the party providing the Confidential Information.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10.9 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 to this Agreement are entitled to under state and federal laws.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10.10 The parties to this Agreement acknowledge and agree that this Agreement shall not be exclusive in any respect.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10.12 No provisions of this Agreement may be amended or modified in any manner except by a written agreement properly authorized and executed by both parties. Notwithstanding the foregoing: (i) the Site Terms may be separately amended as provided therein and, as so amended and in effect from time to time, shall be a part of this Agreement; and (ii) Schedule C may be separately amended as provided therein and, as so amended shall be a part of this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10.13 Each party to the Agreement agrees to limit the disclosure of nonpublic personal information of Contract owners and customers consistent with its policies on privacy with respect to such information and Regulation S-P of the SEC. Each party hereby agrees that it will comply with all applicable requirements under the regulations implementing Title V of the Gramm-Leach-Bliley Act and any other applicable federal and state consumer privacy acts, rules and regulations. Each party further represents that it has in place, and agrees that it will maintain, information security policies and procedures for protecting nonpublic personal customer information adequate to conform to applicable legal requirements.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10.14 If there is a material change to the prospectus of a Portfolio that will impact the provisions of this Agreement, we will notify you promptly in writing.

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**IN WITNESS WHEREOF**, each of the parties has caused their duly authorized officers to execute this Agreement.

The Trust: <u>Franklin Templeton Variable Insurance Products Trust</u>

**Only on behalf of each** 

**Portfolio listed on** 

**Schedule C 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; By: <u>/s/ Navid Tofigh</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; Name: Navid Tofigh

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Title: Secretary & Vice President

The Underwriter: <u>Franklin Distributors, LLC</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; By: <u>/s/ Robert Smith</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; Name: Robert Smith

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Title: Head of Business Administration

The Company: <u>New York Life Insurance and Annuity Corporation</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; By: <u>/s/ Janis Rubin</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; Name: Janis Rubin

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Title: Vice President

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**Schedule A** 

**The Company** 

THE COMPANY

New York Life Insurance and Annuity Corporation

51 Madison Avenue

New York, NY 10010

An insurance company organized under the laws of the State of Delaware.

A

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**Schedule B** 

**Accounts of the Company** 

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| | |
|:---|:---|
| **Name of Account** | **<u>SEC Registration</u>**<br> **Yes/No** |
| NYLIAC Variable Annuity Separate Account - I | **Yes** |
| NYLIAC Variable Annuity Separate Account – II | **Yes** |
| NYLIAC Variable Annuity Separate Account – III | **Yes** |
| NYLIAC Variable Annuity Separate Account – IV | **Yes** |
| NYLIAC Variable Universal Life Separate Account – I | **Yes** |
| NYLIAC Corporate Sponsored Variable Universal Life Separate Account – I | **Yes** |
| NYLIAC Private Placement Variable Universal Life Separate Account – I | **No** |
| NYLIAC Private Placement Variable Universal Life Separate Account -- II | **No** |

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B

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**Schedule C** 

**Available Portfolios and Classes of Shares of the Trust** 

Franklin Gold and Precious Metals VIP Fund: Class 1 and Class 2

In addition to portfolios and classes of shares listed above, any additional Portfolios and classes of shares other than Class 3 shares are included in this Schedule C listing provided that:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) the General Counsel of Franklin Templeton Investments receives from a person authorized by you a written
notice in the form attached (which may be electronic mail or sent by electronic mail) ("Notice") identifying this Agreement as provided in the Notice and specifying: (i) the names and classes of shares of additional Portfolios that
you propose to offer as investment options of the Separate Accounts under the Contracts; and (ii) the date that you propose to begin offering Separate Account interests investing in the additional Portfolios under the Contracts; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2) we do not within ten (10) Business Days following receipt of the Notice send you a writing (which may
be electronic mail) objecting to your offering such Separate Accounts investing in the additional Portfolios and classes of shares under the Contracts.

Provided that we do not object as provided above, your Notice shall amend, supplement and become a part of this Schedule C and the Agreement.

C

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**FORM OF NOTICE PURSUANT TO SCHEDULE C OF PARTICIPATION AGREEMENT** 

To: General Counsel c/o

US Intermediary Client Onboarding (us_ico@franklintempleton.com) or

Kevin Kirchoff (kevin.kirchoff@franklintempleton.com)

Fax: 650 525-7059

Franklin Templeton Investments

1 Franklin Parkway,

Bldg. 920, 2<sup>nd</sup> Floor

San Mateo, CA 94402

With respect to the following agreement(s) (altogether, the "Agreement")

(please reproduce and complete table for multiple agreements):

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| |
|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br> **Date of Participation Agreement:** |
| &nbsp;&nbsp; **Insurance Company(ies):** |

---

As provided by Schedule C of the Agreement, this Notice proposes to Franklin Templeton Variable Insurance Products Trust, and Franklin Distributors, LLC the addition as of the offering date(s) listed below of the following Portfolios as additional investment options listed on Schedule C:

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| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br> **Names and Classes of Shares of Additional Portfolios**<br> Listing of current classes for your reference:<br> Class 1 (no 12b-1 fee);<br> Class 2 (12b-1 fee of 25 bps);<br> ] | <br> **Offering Date(s)** |

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**Name and title of authorized person of insurance company:** 

**Contact Information:** 

C

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**Schedule D** 

**Contracts of the Company** 

All variable life and variable annuity contracts issued by separate accounts listed on Schedule B of this Agreement.

D

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**Schedule E** 

**This schedule is not used** 

E

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**Schedule F** 

**Rule 12b-1 Plans of the Trust** 

**<u>Compensation</u>**

Each Class 2, Class 4 or Class 5 Portfolio named or referenced on Schedule C of this Agreement may make payments on an annualized basis of the average daily net assets of the shares of the Portfolios held in the Accounts at a rate of [ ]%, as may be amended from time to time with reasonable notice to you, pursuant to the terms and conditions of its Rule 12b-1 distribution plan. For the avoidance of doubt, you agree to waive payment of any amounts payable to you by us under a Portfolio's Rule 12b-1 distribution plan until such time as we are in receipt of such fee from the Portfolio.

At the end of each quarter, we will determine the net assets for the preceding quarter, of shares of the Portfolio as to which the 12b-1 fee is to be calculated. We will provide a statement to you setting forth the calculation within thirty (30) Business Days of the following month after the end of the quarter.

**<u>Agreement Provisions</u>**

If the Company, on behalf of any Account, purchases Trust Portfolio shares ("Eligible Shares") that are subject to a Rule 12b-1 plan adopted under the 1940 Act (the "Plan"), the Company may participate in the Plan.

To the extent the Company or its affiliates, agents or designees (collectively "you") provide any activity or service that is primarily intended to assist in the promotion, distribution or account servicing of Eligible Shares ("Rule 12b-1 Services") or variable contracts offering Eligible Shares, the Underwriter, the Trust or their affiliates (collectively, "we") may pay you a Rule 12b-1 fee. "Rule 12b-1 Services" may include, but are not limited to, printing of prospectuses and reports used for sales purposes, preparing and distributing sales literature and related expenses, advertisements, education of dealers and their representatives, and similar distribution-related expenses, furnishing personal services to owners of Contracts which may invest in Eligible Shares ("Contract Owners"), education of Contract Owners, answering routine inquiries regarding a Portfolio, coordinating responses to Contract Owner inquiries regarding the Portfolios, maintaining such accounts or providing such other enhanced services as a Trust Portfolio or Contract may require, or providing other services eligible for service fees as defined under FINRA rules.

Your acceptance of such compensation is your acknowledgment that eligible services have been rendered. All Rule 12b-1 fees shall be based on the value of Eligible Shares owned by the Company on behalf of its Accounts, and shall be calculated on the basis and at the rates set forth in the compensation provision stated above. The aggregate annual fees paid pursuant to each Plan shall not exceed the amounts stated as the "annual maximums" in the Portfolio's prospectus, unless an increase is approved by shareholders as provided in the Plan. These maximums shall be a specified percent of the value of a Portfolio's net assets attributable to Eligible Shares owned by the Company on behalf of its Accounts (determined in the same

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manner as the Portfolio uses to compute its net assets as set forth in its effective Prospectus). The Rule 12b-1 fee will be paid to you within thirty (30) days after the end of the three-month periods ending in January, April, July and October.

You shall furnish us with such information as shall reasonably be requested by the Trust's Boards of Trustees ("Trustees") with respect to the Rule 12b-1 fees paid to you pursuant to the Plans. We shall furnish to the Trustees, for their review on a quarterly basis, a written report of the amounts expended under the Plans and the purposes for which such expenditures were made.

The Plans and provisions of any agreement relating to such Plans must be approved annually by a vote of the Trustees, including the Trustees who are not interested persons of the Trust and who have no financial interest in the Plans or any related agreement ("Disinterested Trustees"). Each Plan may be terminated at any time by the vote of a majority of the Disinterested Trustees, or by a vote of a majority of the outstanding shares as provided in the Plan, on sixty (60) days' written notice, without payment of any penalty, or as provided in the Plan. Continuation of the Plans is also conditioned on Disinterested Trustees being ultimately responsible for selecting and nominating any new Disinterested Trustees. Under Rule 12b-1, the Trustees have a duty to request and evaluate, and persons who are party to any agreement related to a Plan have a duty to furnish, such information as may reasonably be necessary to an informed determination of whether the Plan or any agreement should be implemented or continued. Under Rule 12b-1, the Trust is permitted to implement or continue Plans or the provisions of any agreement relating to such Plans from year-to-year only if, based on certain legal considerations, the Trustees are able to conclude that the Plans will benefit each affected Trust Portfolio and class. Absent such yearly determination, the Plans must be terminated as set forth above. In the event of the termination of the Plans for any reason, the provisions of this Schedule F relating to the Plans will also terminate. You agree that your selling agreements with persons or entities through whom you intend to distribute Contracts will provide that compensation paid to such persons or entities may be reduced if a Portfolio's Plan is no longer effective or is no longer applicable to such Portfolio or class of shares available under the Contracts.

Any obligation assumed by the Trust pursuant to this Agreement shall be limited in all cases to the assets of the Trust and no person shall seek satisfaction thereof from shareholders of the Trust. You agree to waive payment of any amounts payable to you by Underwriter under a Plan until such time as the Underwriter has received such fee from the Trust.

The provisions of the Plans shall control over the provisions of the Participation Agreement, including this Schedule F, in the event of any inconsistency. You agree to provide complete disclosure as required by all applicable statutes, rules and regulations of all rule 12b-1 fees received from us in the prospectus of the Contracts.

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**Schedule G** 

**Addresses for Notices** 

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| |
|:---|
| To the Company: |
| To the Distributor: Franklin Distributors, LLC<br> One Franklin Parkway, Bld 920 2<sup>nd</sup> Floor<br> San Mateo, CA 94403<br> Attention: US Intermediary Client Onboarding<br> (us_ico@franklintempleton.com) |
| To the Trust: Franklin Templeton Variable Insurance Products Trust<br> One Franklin Parkway, Bldg. 920 2<sup>nd</sup> Floor<br> San Mateo, California 94403<br> Attention: Legal Counsel |
| To the Underwriter: Franklin Distributors, LLC<br> 100 Fountain Parkway, Bldg. 140 7<sup>th</sup> Floor<br> St. Petersburg, FL 33716<br> Attention: Legal Counsel |
| If to the Trust or Underwriter with a copy to: &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<br> Franklin Templeton Investments<br> One Franklin Parkway, Bldg. 920 2<sup>nd</sup> Floor<br> San Mateo, California 94403<br> Attention: General Counsel |

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**Schedule H** 

**Shared Funding Order** 

Templeton Variable Products Series Fund, et al.

File No. 812-11698

SECURITIES AND EXCHANGE COMMISSION

Release No. IC-24018

1999 SEC LEXIS 1887

September 17, 1999

ACTION: Notice of application for an amended order of exemption pursuant to Section 6(c) of the Investment Company Act of 1940 (the "1940 Act") 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.

TEXT: Summary of Application: Templeton Variable Products Series Fund (the "Templeton Trust"), Franklin Templeton Variable Insurance Products Trust (formerly Franklin Valuemark Funds) (the "VIP Trust," and together with the Templeton Trust, the "Funds"), Templeton Funds Annuity Company ("TFAC") or any successor to TFAC, and any future open-end investment company for which TFAC or any affiliate is the administrator, sub-administrator, investment manager, adviser, principal underwriter, or sponsor ("Future Funds") seek an amended order of the Commission to (1) add as parties to that order the VIP Trust and any Future Funds and (2) permit shares of the Funds and Future Funds to be issued to and held by qualified pension and retirement plans outside the separate account context.

Applicants: Templeton Variable Products Series Fund, Franklin Templeton Variable Insurance Products Trust, Templeton Funds Annuity Company or any successor to TFAC, and any future open-end investment company for which TFAC or any affiliate is the administrator, sub-administrator, investment manager, adviser, principal underwriter, or sponsor (collectively, the "Applicants").

Filing Date: The application was filed on July 14, 1999, and amended and restated on September 17, 1999.

Hearing or Notification of Hearing: An order granting the application will be issued unless the Commission orders a hearing. Interested persons may request a hearing by writing to the Secretary of the Commission and serving Applicants with a copy of the request, personally or by mail. Hearing requests should be received by the Commission by 5:30 p.m., on October 12, 1999, and should be accompanied by proof of service on the Applicants in the form of an affidavit or, for lawyers, a certificate of service. Hearing requests should state the nature of the writer's interest, the reason for the request, and the issues contested. Persons who wish to be notified of a hearing may request notification by writing to the Secretary of the Commission.

Addresses: Secretary, Securities and Exchange Commission, 450 Fifth Street, NW, Washington, D.C. 20549-0609.

Applicants: Templeton Variable Products Series Fund and Franklin Templeton Variable Insurance Products Trust, 777 Mariners Island Boulevard, San Mateo, California 94404, Attn: Karen L. Skidmore, Esq.

For Further Information Contact: Kevin P. McEnery, Senior Counsel, or Susan M. Olson, Branch Chief, Office of Insurance Products, Division of Investment Management, at (202) 942-0670.

Supplementary Information: The following is a summary of the application. The complete application is available for a fee from the SEC's Public Reference Branch, 450 Fifth Street, N.W., Washington, D.C. 20549-0102 (tel. (202) 942-8090).

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Applicants' Representations:

&nbsp;&nbsp;&nbsp;&nbsp;1. Each of the Funds is registered under the 1940 Act as an open-end management investment company and was organized as a Massachusetts business trust. The Templeton Trust currently consists of eight separate series, and the VIP Trust consists of twenty-five separate series. Each Fund's Declaration of Trust permits the Trustees to create additional series of shares at any time. The Funds currently serve as the underlying investment medium for variable annuity contracts and variable life insurance policies issued by various insurance companies. The Funds have entered into investment management agreements with certain investment managers ("Investment Managers") directly or indirectly owned by Franklin Resources, Inc. ("Resources"), a publicly owned company engaged in the financial services industry through its subsidiaries.

&nbsp;&nbsp;&nbsp;&nbsp;2. TFAC is an indirect, wholly owned subsidiary of Resources. TFAC is the sole insurance company in the Franklin Templeton organization, and specializes in the writing of variable annuity contracts. The Templeton Trust has entered into a Fund Administration Agreement with Franklin Templeton Services, Inc. ("FT Services"), which replaced TFAC in 1998 as administrator, and FT Services subcontracts certain services to TFAC. FT Services also serves as administrator to all series of the VIP Trust. TFAC and FT Services provide certain administrative facilities and services for the VIP and Templeton Trusts.

&nbsp;&nbsp;&nbsp;&nbsp;3. On November 16, 1993, the Commission issued an order granting exemptive relief to permit shares of the Templeton Trust to be sold to and held by variable annuity and variable life insurance separate accounts of both affiliated and unaffiliated life insurance companies (Investment Company Act Release No. 19879, File No. 812-8546) (the "Original Order"). Applicants incorporate by reference into the application the Application for the Original Order and each amendment thereto, the Notice of Application for the Original Order, and the Original Order, to the extent necessary, to supplement the representations made in the application in support of the requested relief. Applicants represent that all of the facts asserted in the Application for the Original Order and any amendments thereto remain true and accurate in all material respects to the extent that such facts are relevant to any relief on which Applicants continue to rely. The Original Order allows the Templeton Trust to offer its shares to insurance companies as the investment vehicle for their separate accounts supporting variable annuity contracts and variable life insurance contracts (collectively, the "Variable Contracts"). Applicants state that the Original Order does not (i) include the VIP Trust or Future Funds as parties, nor (ii) expressly address the sale of shares of the Funds or any Future Funds to qualified pension and retirement plans outside the separate account context including, without limitation, those trusts, plans, accounts, contracts or annuities described in Sections 401(a), 403(a), 403(b), 408(b), 408(k), 414(d), 457(b), 501(c)(18) of the Internal Revenue Code of 1986, as amended (the "Code"), and any other trust, plan, contract, account or annuity that is determined to be within the scope of Treasury Regulation 1.817.5(f)(3)(iii) ("Qualified Plans").

&nbsp;&nbsp;&nbsp;&nbsp;4. Separate accounts owning shares of the Funds and their insurance company depositors are referred to in the application as "Participating Separate Accounts" and "Participating Insurance Companies," respectively. The use of a common management investment company as the underlying investment medium for both variable annuity and variable life insurance separate accounts of a single insurance company (or of two or more affiliated insurance companies) is referred to as "mixed funding." The use of a common management investment company as the underlying investment medium for variable annuity and/or variable life insurance separate accounts of unaffiliated insurance companies is referred to as "shared funding."

Applicants' Legal Analysis:

&nbsp;&nbsp;&nbsp;&nbsp;1. Applicants request that the Commission issue an amended order pursuant to Section 6(c) of the 1940 Act, adding the VIP Trust and Future Funds to the Original Order and exempting scheduled premium variable life insurance separate accounts and flexible premium variable life insurance separate accounts of Participating Insurance Companies (and, to the extent necessary, any principal underwriter and depositor of such an account) and the Applicants from 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) (and any comparable rule) thereunder, respectively, to the extent necessary to permit shares of the Funds and any Future Funds to be sold to and held by Qualified Plans. Applicants submit that the exemptions requested are appropriate in the public interest, consistent with the protection of investors, and consistent with the purposes fairly intended by the policy and provisions of the 1940 Act.

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&nbsp;&nbsp;&nbsp;&nbsp;2. The Original Order does not include the VIP Trust or Future Funds as parties nor expressly address the sale of shares of the Funds or any Future Funds to Qualified Plans. Applicants propose that the VIP Trust and Future Funds be added as parties to the Original Order and the Funds and any Future Funds be permitted to offer and sell their shares to Qualified Plans.

&nbsp;&nbsp;&nbsp;&nbsp;3. Section 6(c) of the 1940 Act provides, in part, that the Commission, by order upon application, may conditionally or unconditionally exempt any person, security or transaction, or any class or classes of persons, securities or transactions from any provisions of the 1940 Act or the rules or regulations thereunder, if and to the extent that such exemption is necessary or appropriate in the public interest and consistent with the protection of investors and the purposes fairly intended by the policy and provisions of the 1940 Act.

&nbsp;&nbsp;&nbsp;&nbsp;4. In connection with the funding of scheduled premium variable life insurance contracts issued through a separate account registered under the 1940 Act as a unit investment trust ("UIT"), Rule 6e-2(b)(15) provides partial exemptions from various provisions of the 1940 Act, including the following: (1) Section 9(a), which makes it unlawful for certain individuals to act in the capacity of employee, officer, or director for a UIT, by limiting the application of the eligibility restrictions in Section 9(a) to affiliated persons directly participating in the management of a registered management investment company; and (2) Sections 13(a), 15(a) and 15(b) of the 1940 Act to the extent that those sections might be deemed to require "pass-through" voting with respect to an underlying fund's shares, by allowing an insurance company to disregard the voting instructions of contractowners in certain circumstances.

&nbsp;&nbsp;&nbsp;&nbsp;5. These exemptions are available, however, only where the management investment company underlying the separate account (the "underlying fund") offers its shares "exclusively to variable life insurance separate accounts of the life insurer, or of any affiliated life insurance company." Therefore, Rule 6e-2 does not permit either mixed funding or shared funding because the relief granted by Rule 6e-2(b)(15) is not available with respect to a scheduled premium variable life insurance separate account that owns shares of an underlying fund that also offers its shares to a variable annuity or a flexible premium variable life insurance separate account of the same company or of any affiliated life insurance company. Rule 6e-2(b)(15) also does not permit the sale of shares of the underlying fund to Qualified Plans.

&nbsp;&nbsp;&nbsp;&nbsp;6. In connection with flexible premium variable life insurance contracts issued through a separate account registered under the 1940 Act as a UIT, Rule 6e-3(T)(b)(15) also provides partial exemptions from Sections 9(a), 13(a), 15(a) and 15(b) of the 1940 Act. These exemptions, however, are available only where the separate account's underlying fund offers its shares "exclusively to separate accounts of the life insurer, or of any affiliated life insurance company, offering either scheduled contracts or flexible contracts, or both; or which also offer their shares to variable annuity separate accounts of the life insurer or of an affiliated life insurance company." Therefore, Rule 6e-3(T) permits mixed funding but does not permit shared funding and also does not permit the sale of shares of the underlying fund to Qualified Plans. As noted above, the Original Order granted the Templeton Trust exemptive relief to permit mixed and shared funding, but did not expressly address the sale of its shares to Qualified Plans.

&nbsp;&nbsp;&nbsp;&nbsp;7. Applicants note that if the Funds were to sell their shares only to Qualified Plans, exemptive relief under Rule 6e-2 and Rule 6e-3(T) would not be necessary. Applicants state that the relief provided for under Rule 6e-2(b)(15) and Rule 6e-3(T)(b)(15) does not relate to qualified pension and retirement plans or to a registered investment company's ability to sell its shares to such plans.

&nbsp;&nbsp;&nbsp;&nbsp;8. Applicants state that changes in the federal tax law have created the opportunity for each of the Funds to increase its asset base through the sale of its shares to Qualified Plans. Applicants state that Section 817(h) of the Internal Revenue Code of 1986, as amended (the "Code"), imposes certain diversification standards on the assets underlying Variable Contracts. Treasury Regulations generally require that, to meet the diversification requirements, all of the beneficial interests in the underlying investment company must be held by the segregated asset accounts of one or more life insurance companies. Notwithstanding this, Applicants note that the Treasury Regulations also contain an exception to this requirement that permits trustees of a Qualified Plan to hold shares of an investment company, the shares of which are also held by insurance company segregated asset accounts, without adversely affecting the status of the investment company as an adequately diversified underlying investment of Variable Contracts issued through such segregated asset accounts (Treas. Reg. 1.817-5(f)(3)(iii)).

&nbsp;&nbsp;&nbsp;&nbsp;9. Applicants state that the promulgation of Rules 6e-2(b)(15) and 6e-3(T)(b)(15) under the 1940 Act preceded the issuance of these Treasury Regulations. Thus, Applicants assert that the sale of shares of the same investment company

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to both separate accounts and Qualified Plans was not contemplated at the time of the adoption of Rules 6e-2(b)(15) and 6e-3(T)(b)(15).

&nbsp;&nbsp;&nbsp;&nbsp;10. Section 9(a) provides that it is unlawful for any company to serve as investment adviser or principal underwriter of any registered open-end investment company if an affiliated person of that company is subject to a disqualification enumerated in Section 9(a)(1) or (2). Rules 6e-2(b)(15) and 6e-3(T)(b)(15) provide exemptions from Section 9(a) under certain circumstances, subject to the limitations on mixed and shared funding. These exemptions limit the application of the eligibility restrictions to affiliated individuals or companies that directly participate in the management of the underlying portfolio investment company.

&nbsp;&nbsp;&nbsp;&nbsp;11. Applicants state that the relief granted in Rule 6e-2(b)(15) and 6e-3(T)(b)(15) from the requirements of Section 9 limits, in effect, the amount of monitoring of an insurer's personnel that would otherwise be necessary to ensure compliance with Section 9 to that which is appropriate in light of the policy and purposes of Section 9. Applicants submit that those Rules recognize that it is not necessary for the protection of investors or the purposes fairly intended by the policy and provisions of the 1940 Act to apply the provisions of Section 9(a) to the many individuals involved in an insurance company complex, most of whom typically will have no involvement in matters pertaining to investment companies funding the separate accounts.

&nbsp;&nbsp;&nbsp;&nbsp;12. Applicants to the Original Order previously requested and received relief from Section 9(a) and Rules 6e-2(b)(15) and 6e-3(T)(b)(15) to the extent necessary to permit mixed and shared funding. Applicants maintain that the relief previously granted from Section 9(a) will in no way be affected by the proposed sale of shares of the Funds to Qualified Plans. Those individuals who participate in the management or administration of the Funds will remain the same regardless of which Qualified Plans use such Funds. Applicants maintain that more broadly applying the requirements of Section 9(a) because of investment by Qualified Plans would not serve any regulatory purpose. Moreover, Qualified Plans, unlike separate accounts, are not themselves investment companies and therefore are not subject to Section 9 of the 1940 Act.

&nbsp;&nbsp;&nbsp;&nbsp;13. Applicants state that Rules 6e-2(b)(15)(iii) and 6e-3(T)(b)(15)(iii) provide exemptions from the pass-through voting requirement with respect to several significant matters, assuming the limitations on mixed and shared funding are observed. Rules 6e-2(b)(15)(iii)(A) and 6e-3(T)(b)(15)(iii)(A) provide that the insurance company may disregard the voting instructions of its contractowners with respect to the investments of an underlying fund or any contract between a fund and its investment adviser, when required to do so by an insurance regulatory authority (subject to the provisions of paragraphs (b)(5)(i) and (b)(7)(ii)(A) of the Rules). Rules 6e-2(b)(15)(iii)(B) and 6e-3(T)(b)(15)(iii)(A)(2) provide that the insurance company may disregard contractowners' voting instructions if the contractowners initiate any change in such company's investment policies, principal underwriter, or any investment adviser (provided that disregarding such voting instructions is reasonable and subject to the other provisions of paragraphs (b)(5)(ii) and (b)(7)(ii)(B) and (C) of the Rules).

&nbsp;&nbsp;&nbsp;&nbsp;14. Applicants assert that Qualified Plans, which are not registered as investment companies under the 1940 Act, have no requirement to pass-through the voting rights to plan participants. Applicants state that applicable law expressly reserves voting rights to certain specified persons. Under Section 403(a) of the Employment Retirement Income Security Act ("ERISA"), shares of a fund sold to a Qualified Plan must be held by the trustees of the Qualified Plan. Section 403(a) also provides that the trustee(s) must have exclusive authority and discretion to manage and control the Qualified Plan with two exceptions: (1) when the Qualified Plan expressly provides that the trustee(s) are subject to the direction of a named fiduciary who is not a trustee, in which case the trustees are subject to proper directions made in accordance with the terms of the Qualified Plan and not contrary to ERISA; and (2) when the authority to manage, acquire or dispose of assets of the Qualified Plan is delegated to one or more investment managers pursuant to Section 402(c)(3) of ERISA. Unless one of the two above exceptions stated in Section 403(a) applies, Qualified Plan trustees have the exclusive authority and responsibility for voting proxies. Where a named fiduciary to a Qualified Plan appoints an investment manager, the investment manager has the responsibility to vote the shares held unless the right to vote such shares is reserved to the trustees or the named fiduciary. Where a Qualified Plan does not provide participants with the right to give voting instructions, Applicants do not see any potential for material irreconcilable conflicts of interest between or among variable contract holders and Qualified Plan investors with respect to voting of the respective Fund's shares. Accordingly, Applicants state that, unlike the case with insurance company separate accounts, the issue of the resolution of material irreconcilable conflicts with respect to voting is not present with respect to such Qualified Plans since the Qualified Plans are not entitled to pass-through voting privileges.

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&nbsp;&nbsp;&nbsp;&nbsp;15. Even if a Qualified Plan were to hold a controlling interest in one of the Funds, Applicants believe that such control would not disadvantage other investors in such Fund to any greater extent than is the case when any institutional shareholder holds a majority of the voting securities of any open-end management investment company. In this regard, Applicants submit that investment in a Fund by a Qualified Plan will not create any of the voting complications occasioned by mixed funding or shared funding. Unlike mixed or shared funding, Qualified Plan investor voting rights cannot be frustrated by veto rights of insurers or state regulators.

&nbsp;&nbsp;&nbsp;&nbsp;16. Applicants state that some of the Qualified Plans, however, may provide for the trustee(s), an investment adviser (or advisers), or another named fiduciary to exercise voting rights in accordance with instructions from participants. Where a Qualified Plan provides participants with the right to give voting instructions, Applicants see no reason to believe that participants in Qualified Plans generally or those in a particular Qualified Plan, either as a single group or in combination with participants in other Qualified Plans, would vote in a manner that would disadvantage Variable Contract holders. In sum, Applicants maintain that the purchase of shares of the Funds by Qualified Plans that provide voting rights does not present any complications not otherwise occasioned by mixed or shared funding.

&nbsp;&nbsp;&nbsp;&nbsp;17. Applicants do not believe that the sale of the shares of the Funds to Qualified Plans will increase the potential for material irreconcilable conflicts of interest between or among different types of investors. In particular, Applicants see very little potential for such conflicts beyond that which would otherwise exist between variable annuity and variable life insurance contractowners.

&nbsp;&nbsp;&nbsp;&nbsp;18. As noted above, Section 817(h) of the Code imposes certain diversification standards on the underlying assets of variable contracts held in an underlying mutual fund. The Code provides that a variable contract shall not be treated as an annuity contract or life insurance, as applicable, for any period (and any subsequent period) for which the investments are not, in accordance with regulations prescribed by the Treasury Department, adequately diversified.

&nbsp;&nbsp;&nbsp;&nbsp;19. Treasury Department Regulations issued under Section 817(h) provide that, in order to meet the statutory diversification requirements, all of the beneficial interests in the investment company must be held by the segregated asset accounts of one or more insurance companies. However, the Regulations contain certain exceptions to this requirement, one of which allows shares in an underlying mutual fund to be held by the trustees of a qualified pension or retirement plan without adversely affecting the ability of shares in the underlying fund also to be held by separate accounts of insurance companies in connection with their variable contracts (Treas. Reg. 1.817-5(f)(3)(iii)). Thus, Applicants believe that the Treasury Regulations specifically permit "qualified pension or retirement plans" and separate accounts to invest in the same underlying fund. For this reason, Applicants have concluded that neither the Code nor the Treasury Regulations or revenue rulings thereunder presents any inherent conflict of interest.

&nbsp;&nbsp;&nbsp;&nbsp;20. Applicants note that while there are differences in the manner in which distributions from Variable Contracts and Qualified Plans are taxed, these differences will have no impact on the Funds. When distributions are to be made, and a Separate Account or Qualified Plan is unable to net purchase payments to make the distributions, the Separate Account and Qualified Plan will redeem shares of the Funds at their respective net asset value in conformity with Rule 22c-1 under the 1940 Act (without the imposition of any sales charge) to provide proceeds to meet distribution needs. A Qualified Plan will make distributions in accordance with the terms of the Qualified Plan.

&nbsp;&nbsp;&nbsp;&nbsp;21. Applicants maintain that it is possible to provide an equitable means of giving voting rights to Participating Separate Account contractowners and to Qualified Plans. In connection with any meeting of shareholders, the Funds will inform each shareholder, including each Participating Insurance Company and Qualified Plan, of information necessary for the meeting, including their respective share of ownership in the relevant Fund. Each Participating Insurance Company will then solicit voting instructions in accordance with Rules 6e-2 and 6e-3(T), as applicable, and its participation agreement with the relevant Fund. Shares held by Qualified Plans will be voted in accordance with applicable law. The voting rights provided to Qualified Plans with respect to shares of the Funds would be no different from the voting rights that are provided to Qualified Plans with respect to shares of funds sold to the general public.

&nbsp;&nbsp;&nbsp;&nbsp;22. Applicants have concluded that even if there should arise issues with respect to a state insurance commissioner's veto powers over investment objectives where the interests of contractowners and the interests of Qualified Plans are in conflict, the issues can be almost immediately resolved since the trustees of (or participants in) the Qualified Plans can, on their own, redeem the shares out of the Funds. Applicants note that state insurance commissioners have been

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given the veto power in recognition of the fact that insurance companies usually cannot simply redeem their separate accounts out of one fund and invest in another. Generally, time-consuming, complex transactions must be undertaken to accomplish such redemptions and transfers. Conversely, the trustees of Qualified Plans or the participants in participant-directed Qualified Plans can make the decision quickly and redeem their interest in the Funds and reinvest in another funding vehicle without the same regulatory impediments faced by separate accounts or, as is the case with most Qualified Plans, even hold cash pending suitable investment.

&nbsp;&nbsp;&nbsp;&nbsp;23. Applicants also state that they do not see any greater potential for material irreconcilable conflicts arising between the interests of participants under Qualified Plans and contractowners of Participating Separate Accounts from possible future changes in the federal tax laws than that which already exist between variable annuity contractowners and variable life insurance contractowners.

&nbsp;&nbsp;&nbsp;&nbsp;24. Applicants state that the sale of shares of the Funds to Qualified Plans in addition to separate accounts of Participating Insurance Companies will result in an increased amount of assets available for investment by the Funds. This may benefit variable contractowners by promoting economies of scale, by permitting increased safety of investments through greater diversification, and by making the addition of new portfolios more feasible.

&nbsp;&nbsp;&nbsp;&nbsp;25. Applicants assert that, regardless of the type of shareholders in each Fund, each Fund's Investment Manager is or would be contractually and otherwise obligated to manage the Fund solely and exclusively in accordance with that Fund's investment objectives, policies and restrictions as well as any guidelines established by the Board of Trustees of such Fund (the "Board"). The Investment Manager works with a pool of money and (except in a few instances where this may be required in order to comply with state insurance laws) does not take into account the identity of the shareholders. Thus, each Fund will be managed in the same manner as any other mutual fund. Applicants therefore see no significant legal impediment to permitting the sale of shares of the Funds to Qualified Plans.

&nbsp;&nbsp;&nbsp;&nbsp;26. Applicants state that the Commission has permitted the amendment of a substantially similar original order for the purpose of adding a party to the original order and has permitted open-end management investment companies to offer their shares directly to Qualified Plan in addition to separate accounts of affiliated or unaffiliated insurance companies which issue either or both variable annuity contracts or variable life insurance contracts. Applicants state that the amended order sought in the application is identical to precedent with respect to the conditions Applicants propose should be imposed on Qualified Plans in connection with investment in the Funds.

Applicants' Conditions:

If the requested amended order is granted, Applicants consent to the following conditions:

&nbsp;&nbsp;&nbsp;&nbsp;1. A majority of the Board of each Fund shall consist of persons who are not "interested persons" thereof, as defined by Section 2(a)(19) of the 1940 Act, and the rules thereunder and as modified by any applicable orders of the Commission, except that if this condition is not met by reason of the death, disqualification or bona fide resignation of any Board Member or Members, then the operation of this condition shall be suspended: (a) for a period of 45 days if the vacancy or vacancies may be filled by the remaining Board Members; (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 Commission may prescribe by order upon application.

&nbsp;&nbsp;&nbsp;&nbsp;2. The Board will monitor their respective Fund for the existence of any material irreconcilable conflict among the interests of the Variable Contract owners of all Separate Accounts investing in the Funds and of the Qualified Plan participants investing in the Funds. The Board will determine what action, if any, shall be taken in response to such conflicts. 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 the Funds are being managed; (e) a difference in voting instructions given by variable annuity contract owners, variable life insurance contract owners, and trustees of Qualified Plans; (f) a decision by an insurer to disregard the voting instructions of Variable Contract owners; or (g) if applicable, a decision by a Qualified Plan to disregard the voting instructions of Qualified Plan participants.

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&nbsp;&nbsp;&nbsp;&nbsp;3. Participating Insurance Companies, the Investment Managers, and any Qualified Plan that executes a fund participation agreement upon becoming an owner of 10 percent or more of the assets of an Fund (a "Participating Qualified Plan"), will report any potential or existing conflicts of which it becomes aware to the Board of any relevant Fund. Participating Insurance Companies, the Investment Managers and the Participating Qualified Plans will be responsible for assisting the Board in carrying out its responsibilities under these conditions by providing the Board with all information reasonably necessary for the Board to consider any issues raised. This responsibility includes, but is not limited to, an obligation by each Participating Insurance Company to inform the Board whenever voting instructions of Contract owners are disregarded and, if pass-through voting is applicable, an obligation by each Participating Qualified Plan to inform the Board whenever it has determined to disregard Qualified Plan participant voting instructions. The responsibility to report such information and conflicts, and to assist the Board, will be contractual obligations of all Participating Insurance Companies investing in the Funds under their agreements governing participation in the Funds, and such agreements shall provide that these responsibilities will be carried out with a view only to the interests of the Variable Contract owners. The responsibility to report such information and conflicts, and to assist the Board, will be contractual obligations of all Participating Qualified Plans under their agreements governing participation in the Funds, and such agreements will provide that their responsibilities will be carried out with a view only to the interests of Qualified Plan participants.

&nbsp;&nbsp;&nbsp;&nbsp;4. If it is determined by a majority of the Board of a Fund, or by a majority of the disinterested Board Members, that a material irreconcilable conflict exists, the relevant Participating Insurance Companies and Participating Qualified Plans will, at their own 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 material irreconcilable conflict, which steps could include: (a) in the case of Participating Insurance Companies, withdrawing the assets allocable to some or all of the Separate Account s from the Fund or any portfolio thereof and reinvesting such assets in a different investment medium, including another portfolio of an Fund or another Fund, 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., variable annuity contract owners or variable life insurance contract owners of 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; (b) in the case of Participating Qualified Plans, withdrawing the assets allocable to some or all of the Qualified Plans from the Fund and reinvesting such assets in a different investment medium; and (c) establishing a new registered management investment company or managed Separate Account. If a material irreconcilable conflict arises because of a decision by a Participating Insurance Company to disregard Variable Contract owner voting instructions, and that decision represents a minority position or would preclude a majority vote, then the insurer may be required, at the Fund's election, to withdraw the insurer's Separate Account investment in such Fund, and no charge or penalty will be imposed as a result of such withdrawal. If a material irreconcilable conflict arises because of a Participating Qualified Plan's decision to disregard Qualified Plan participant voting instructions, if applicable, and that decision represents minority position or would preclude a majority vote, the Participating Qualified Plan may be required, at the Fund's election, to withdraw its investment in such Fund, and no charge or penalty will be imposed as a result of such withdrawal. The responsibility to take remedial action in the event of a determination by a Board of a material irreconcilable conflict and to bear the cost of such remedial action will be a contractual obligation of all Participating Insurance Companies and Participating Qualified Plans under their agreements governing participation in the Funds, and these responsibilities will be carried out with a view only to the interest of Variable Contract owners and Qualified Plan participants.

&nbsp;&nbsp;&nbsp;&nbsp;5. For purposes of Condition 4, a majority of the disinterested Board Members of the applicable Board will determine whether or not any proposed action adequately remedies any material irreconcilable conflict, but in no event will the relevant Fund or the Investment Managers be required to establish a new funding medium for any Contract. No Participating Insurance Company shall be required by Condition 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 the Variable Contract owners materially and adversely affected by the material irreconcilable conflict. Further, no Participating Qualified Plan shall be required by Condition 4 to establish a new funding medium for any Participating Qualified Plan if (a) a majority of Qualified Plan participants materially and adversely affected by the irreconcilable material conflict vote to decline such offer, or (b) pursuant to governing Qualified Plan documents and applicable law, the Participating Qualified Plan makes such decision without a Qualified Plan participant vote.

&nbsp;&nbsp;&nbsp;&nbsp;6. The determination of the Board of the existence of a material irreconcilable conflict and its implications will be made known in writing promptly to all Participating Insurance Companies and Participating Qualified Plans.

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&nbsp;&nbsp;&nbsp;&nbsp;7. Participating Insurance Companies will provide pass-through voting privileges to Variable Contract owners who invest in registered Separate Accounts so long as and to the extent that the Commission continues to interpret the 1940 Act as requiring pass-through voting privileges for Variable Contract owners. As to Variable Contracts issued by unregistered Separate Accounts, pass-through voting privileges will be extended to participants to the extent granted by issuing insurance companies. Each Participating Insurance Company will also vote shares of the Funds held in its Separate Accounts for which no voting instructions from Contract owners are timely received, as well as shares of the Funds which the Participating Insurance Company itself owns, in the same proportion as those shares of the Funds for which voting instructions from contract owners are timely received. Participating Insurance Companies will be responsible for assuring that each of their registered Separate Accounts participating in the Funds calculates voting privileges in a manner consistent with other Participating Insurance Companies. The obligation to calculate voting privileges in a manner consistent with all other registered Separate Accounts investing in the Funds will be a contractual obligation of all Participating Insurance Companies under their agreements governing their participation in the Funds. Each Participating Qualified Plan will vote as required by applicable law and governing Qualified Plan documents.

&nbsp;&nbsp;&nbsp;&nbsp;8. All reports of potential or existing conflicts received by the Board of a Fund and all action by such Board with regard to determining the existence of a conflict, notifying Participating Insurance Companies and Participating Qualified Plans of a conflict, and determining whether any proposed action adequately remedies a conflict, will be properly recorded in the minutes of the meetings of such Board or other appropriate records, and such minutes or other records shall be made available to the Commission upon request.

&nbsp;&nbsp;&nbsp;&nbsp;9. Each Fund will notify all Participating Insurance Companies that separate disclosure in their respective Separate Account prospectuses may be appropriate to advise accounts regarding the potential risks of mixed and shared funding. Each Fund shall disclose in its prospectus that (a) the Fund is intended to be a funding vehicle for variable annuity and variable life insurance contracts offered by various insurance companies and for qualified pension and retirement plans; (b) due to differences of tax treatment and other considerations, the interests of various Contract owners participating in the Fund and/or the interests of Qualified Plans investing in the Fund may at some time be in conflict; and (c) the Board of such Fund 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.

&nbsp;&nbsp;&nbsp;&nbsp;10. Each Fund will comply with all provisions of the 1940 Act requiring voting by shareholders (which, for these purposes, will be the persons having a voting interest in the shares of the Funds), and, in particular, the Funds will either provide for annual shareholder meetings (except insofar as the Commission 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 Funds are not the type of trust described in Section 16(c) of the 1940 Act, as well as with Section 16(a) of the 1940 Act and, if and when applicable, Section 16(b) of the 1940 Act. Further, each Fund will act in accordance with the Commission's interpretation of the requirements of Section 16(a) with respect to periodic elections of Board Members and with whatever rules the Commission may promulgate with respect thereto.

&nbsp;&nbsp;&nbsp;&nbsp;11. If and to the extent Rules 6e-2 or 6e-3(T) under the 1940 Act is amended, or proposed Rule 6e-3 under the 1940 Act 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 on terms and conditions materially different from any exemptions granted in the order requested in the application, then the Funds and/or Participating Insurance Companies and Participating Qualified Plans, as appropriate, shall take such steps as may be necessary to comply with such Rules 6e-2 and 6e-3(T), as amended, or proposed Rule 6e-3, as adopted, to the extent that such Rules are applicable.

&nbsp;&nbsp;&nbsp;&nbsp;12. The Participating Insurance Companies and Participating Qualified Plans and/or the Investment Managers, at least annually, will submit to the Board such reports, materials or data as the Board may reasonably request so that the Board may fully carry out obligations imposed upon it by the conditions contained in the application. Such reports, materials and data will be submitted more frequently if deemed appropriate by the Board. The obligations of the Participating Insurance Companies and Participating Qualified Plans to provide these reports, materials and data to the Board, when the Board so reasonably requests, shall be a contractual obligation of all Participating Insurance Companies and Participating Qualified Plans under their agreements governing participation in the Funds.

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&nbsp;&nbsp;&nbsp;&nbsp;13. If a Qualified Plan should ever become a holder of ten percent or more of the assets of a Fund, such Qualified Plan will execute a participation agreement with the Fund that includes the conditions set forth herein to the extent applicable. A Qualified Plan will execute an application containing an acknowledgment of this condition upon such Qualified Plan's initial purchase of the shares of any Fund.

Conclusion:

Applicants assert that, for the reasons summarized above, the requested exemptions are appropriate in the public interest and consistent with the protection of investors and the purposes fairly intended by the policy and provisions of the 1940 Act.

For the Commission, by the Division of Investment Management, pursuant to delegated authority.

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Templeton Variable Products Series Fund, et al.

File No. 812-11698

SECURITIES AND EXCHANGE COMMISSION

Release No. IC-24079

1999 SEC LEXIS 2177

October 13, 1999

ACTION: Order Granting Exemptions

TEXT: Templeton Variable Products Series Fund ("Templeton Trust"), Franklin Templeton Variable Insurance Products Trust ("VIP Trust"), Templeton Funds Annuity Company ("TFAC") or any successor to TFAC, and any future open-end investment company for which TFAC or any affiliate is the administrator, sub-administrator, investment manager, adviser, principal underwriter, or sponsor ("Future Funds") filed an application on July 14, 1999, and an amendment on September 17, 1999 seeking an amended order of the Commission pursuant to Section 6(c) of the Investment Company Act of 1940 ("1940 Act") exempting them 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). The prior order (Rel. No. IC-19879) granted exemptive relief to permit shares of the Templeton Trust to be sold to and held by variable annuity and variable life insurance separate accounts of both affiliated and unaffiliated life insurance companies. The proposed relief would amend the prior order to add as parties to that order the VIP Trust and any Future Funds and to permit shares of the Templeton Trust, the VIP Trust, and Future Funds to be issued to and held by qualified pension and retirement plans outside the separate account context.

A notice of the filing of the application was issued on September 17, 1999 (Rel. No. IC-24018). The notice gave interested persons an opportunity to request a hearing and stated that an order granting the application would be issued unless a hearing should be ordered. No request for a hearing has been filed, and the Commission has not ordered a hearing.

The matter has been considered, and it is found that granting the requested exemptions is appropriate in the public interest and consistent with the protection of investors and the purposes intended by the policy and provisions of the 1940 Act.

Accordingly,

IT IS ORDERED, pursuant to Section 6(c) of the 1940 Act, that the requested exemptions from 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, be, and hereby are, granted, effective forthwith.

For the Commission, by the Division of Investment Management, pursuant to delegated authority.

## Ex-99.(H)(37)

**PARTICIPATION AGREEMENT** 

THIS AGREEMENT, made and entered into this __ day of ________, 2026 by and between GOLDMAN SACHS VARIABLE INSURANCE TRUST, a statutory trust formed under the laws of Delaware (the "Trust"), GOLDMAN SACHS & CO. LLC, a New York limited partnership (the "Distributor"), and NEW YORK LIFE INSURANCE AND ANNUITY CORPORATION, a Delaware life insurance company (the "Company"), on its own behalf and on behalf of each separate account of the Company set forth on Schedule 1A, 1B and IC hereto, as such Schedule may be amended from time to time.

WHEREAS, the Trust engages in business as an open-end management investment company of the series-type offering shares of beneficial interest (the "Trust Shares") in one or more separate series ("Series"), and each such Series represents an interest in a particular investment portfolio of securities and other assets (a "Fund") and may be issued in 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 life insurance company separate accounts supporting variable annuity contracts and variable life insurance policies to be offered by insurance companies that have entered into participation agreements with the Trust, and may also be utilized by certain retirement plans and other persons, to the extent permitted under applicable law and the SEC Order (as defined below); and

WHEREAS, an order of the Securities and Exchange Commission dated February 2, 1998, (File No. 812-10794) 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 Trust is registered as an open-end management investment company under the Investment Company Act of 1940, as amended (the "1940 Act"), and the sale of its Trust Shares is registered under the Securities Act of 1933, as amended (the "1933 Act"); and

WHEREAS, the Distributor is registered as a broker-dealer with the Securities and Exchange Commission under the Securities Exchange Act of 1934, as amended, and is a member in good standing of the Financial Industry Regulatory Authority ("FINRA"); and

WHEREAS, the Company is a life insurance company duly organized and existing under the laws of its state of organization, and has registered or will register, as applicable, its variable

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annuity contracts and variable life insurance policies under the 1933 Act and its separate accounts as unit investment trusts under the 1940 Act, or will rely on an applicable exemption therefrom; and

WHEREAS, the Distributor has the exclusive right to distribute Trust Shares to qualifying investors subject to applicable law and the terms of this Agreement; 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 Trust 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;**1.1.** "Accounts"—the separate accounts of the Company identified in Schedules 1A and 2A and 3A to this Agreement as such Schedules may be amended from time to time.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1.2** "Applicable Law"—the federal securities laws as defined in Rule 38a-1 under the 1940 Act, any rules promulgated thereunder, FINRA regulations applicable to the Distributor, any Applicable SEC Guidance, applicable , state insurance laws or regulations that may apply to the Trust, the Distributor, the Company, the Accounts, or the Contracts.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1.3.** "Applicable SEC Guidance"—any applicable: (a) SEC release, opinion, or order, as well as any published "no-action" position or written interpretive guidance by the SEC staff; and (b) FINRA interpretive memoranda or notices to members, as well as any written interpretive guidance from the FINRA staff in each case to the extent relevant to the activities contemplated by this Agreement and interpreted in a manner consistent with applicable law. Applicable SEC Guidance does not include oral statements, speeches, or informal guidance by the SEC or its staff.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1.4.** "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;**1.5.** "Code"—the Internal Revenue Code of 1986, as amended, and any successor thereto.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1.6.** "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 1B, 2B, or 3B to this Agreement.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1.7.** "Contract Owners"—the owners of the Contracts, as distinguished from all Product Owners.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1.8.** "FINRA"—The Financial Industry Regulatory Authority, Inc.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1.9.** "Fund Documents" — documents prepared by the Trust that, pursuant to Rule 498(e)(1) under the 1933 Act and Rule 30e-1(b)(2)(i) under the 1940 Act, must be publicly accessible free of charge at the Web site address shown on the cover page or at the beginning of the Summary Prospectus.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1.10.** "Fund Documents Web Site"--the web site maintained by the Trust (or its agent) where Contract Owners, prospective Contract Owners, participants in Participating Plans, or individual investors who are Qualified Persons or invest through a Qualified Person may access Fund Documents.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1.11.** "Participating Account"—a separate account investing all or a portion of its assets in the Trust, including the Accounts.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1.12.** "Participating Insurance Company"—any life insurance company with a Participating Account, including the Company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1.13.** "Participating Plan"—any pension or profit-sharing plan qualified under Section 401 of the Code investing in the Trust and certain other retirement plans that are Qualified Persons investing in the Trust.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1.14.** "Participating Investor"—any Participating Account, Participating Insurance Company, Participating Plan, or other Qualified Person, including the Accounts and the Company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1.15.** "Products"—variable annuity contracts and variable life insurance policies supported by Participating Accounts, including the Contracts.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1.16.** "Product Owners"—owners of Products, including Contract Owners.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1.17.** "Prospectus"—with respect to a Series (or Class) of Trust Shares or a class of Schedule 1 Contracts, each version of the definitive Prospectus or Summary Prospectus (where used or required to be used) and 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, *Prospectus* shall mean the version of the Prospectus for the applicable Series, Class or Contracts filed most recently (or most current for Schedule 2 Contracts and Schedule 3 Contracts) prior to the taking of such action. For purposes of Article IX, the term "Prospectus" shall include any statement of additional information incorporated therein. With respect to a class of Schedule 2 Contracts or Schedule 3 Contracts, Prospectus includes any offering circular or memorandum for such Contracts.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1.18.** "Qualified Person" – a person permitted to hold Trust Shares under Treasury Regulation Section 1.817-5(f), as supplemented by published rulings and procedures issued thereunder by the Internal Revenue Service, in order for any Fund of the Trust to qualify for "look-through" treatment by Participating Accounts in applying the diversification requirements of Section 817(h) of the Code by taking into account the portfolio investments of a Fund.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1.19.** "Registration Statement"—with respect to the Trust Shares or 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 Schedule 1 Contracts is identified on Schedule 1B 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;**1.20.** "1940 Act Registration Statement"—with respect to the Trust or 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 Trust's 1940 Act Registration Statement is filed on Form N-1A (File No. 811-08361).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1.21.** "Schedule 1 Accounts"—Accounts registered under the 1940 Act as unit investment trusts and listed on Schedule 1A.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1.22.** "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 2A.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1.23.** "Schedule 3 Accounts"—Accounts excluded from the definition of an investment company as provided for by Section 3(c)(1) or Section 3(c)(7) of the 1940 Act and listed on Schedule 3A.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1.24.** "Schedule 1 Contracts"—Contracts through which interests are registered as securities under the 1933 Act.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1.25.** "Schedule 2 Contracts"—Contracts through which interests 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 (which Contracts and interests are not registered as securities in reliance upon Section 3(a)(2) of the 1933 Act).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1.26.** "Schedule 3 Contracts"—Contracts through which interests 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 (which Contracts and interests are not registered as securities in reliance upon Regulation D).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1.27.** "SEC"—the Securities and Exchange Commission.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1.28.** "Statement of Additional Information"—with respect to the shares of the Trust or 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, *Statement of Additional Information* shall mean the last version so filed prior to the taking of such action.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1.29.** "Statutory Prospectus" – a prospectus that satisfies the requirements of Section 10(a) of the 1933 Act.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1.30.** "Summary Prospectus" –a prospectus described in paragraph (b) of Rule 498 under the 1933 Act.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1.31.** "Trust Board"—the board of trustees of the Trust.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1.32.** "1933 Act"—the Securities Act of 1933, as amended.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1.33.** "1940 Act"—the Investment Company Act of 1940, as amended.

**ARTICLE II** 

**Sale of Trust Shares** 

&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;(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 Accounts, shares of the Series and Classes listed on Schedules 1B, 2B, and 3B to this Agreement, such purchases to be effected at net asset value in accordance with Section 2.3 of this Agreement. The Distributor shall make such Series and Classes available to the Company in accordance with the terms and provisions of this Agreement until: (i) this Agreement is terminated pursuant to Article X, or (ii) 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;(b) The parties acknowledge and agree that: (i) the Trust may revoke the Distributor's authority to distribute Trust Shares pursuant to the terms and conditions of its distribution agreement with the Distributor, and (ii) the Trust reserves the right in its reasonable discretion in a manner not inconsistent with the Prospectus to refuse to accept a request for the purchase of Trust Shares.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**2.2. Redemptions.** At the Company's request, the Trust shall redeem any full or fractional Trust Shares held by the Company on behalf of an Account at net asset value in

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accordance with Section 2.3 of this Agreement. However, the Trust may delay redemption or suspend the right of redemption of Trust Shares of any Series or Class to the extent permitted by the Applicable Law. The Company shall not redeem Trust Shares attributable to Contract Owner investments except in the circumstances permitted in Article X of this Agreement or as otherwise necessary to administer the Contracts in accordance with their terms and Applicable Law.

&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;(a) The Trust hereby appoints the Company as its designee for the limited purpose of receiving purchase and redemption requests for Trust Shares under Schedule 1 Contracts resulting from purchase and redemption requests by Owners of Schedule 1 Contracts for units of the Schedule 1 Accounts (but not for units of the Schedule 2 Accounts or Schedule 3 Accounts). Receipt by the Company, as designee of the Trust for this purpose, of requests for the purchase and redemption of units of the Schedule 1 Accounts on any Business Day prior to the Trust's close of business, as disclosed 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), shall constitute receipt by the Trust on that Business Day of requests from such Schedule 1 Accounts for the purchase and redemption of Trust Shares necessary to facilitate such purchase and redemption of units of such Schedule 1 Accounts. This limited agency only extends to requests by the Schedule 1 Accounts for the purchase and redemption of Trust Shares that the Trust (or its transfer agent) receives by 9:00 a.m. New York Time on the next following Business Day. **Requests for the purchase and redemption of Trust Shares may be communicated (i) for manual processing, by facsimile, electronic mail, or telephone to the office or person designated by the Trust and shall be confirmed by facsimile or electronic mail, or (ii) for NSCC processing, in accordance with Section 2.3(g) below.**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) The Company shall pay for Trust Shares on the same day that it provides a purchase request for such Shares. Payment for Trust Shares shall be made in federal funds transmitted to the Trust by wire by 6:00 p.m. New York Time on that day (unless the Trust determines and so advises the Company that sufficient proceeds are available from redemption of Trust Shares of other Series or Classes on that day by the Company). Proceeds from the redemption of Trust Shares requested pursuant to an order received by the Company after the Trust's close of business on any Business Day shall not be applied to the payment for shares for which a purchase order was received prior to the Trust's close of business on the same day. If federal funds are not received on time, issuance of the requested Trust Shares will be cancelled and such funds will be applied to the purchase of Trust Shares as soon as practicable after receipt of such funds at the Share price next computed after receipt. If the issuance of Trust Shares is canceled because federal funds are not timely received, the Company shall indemnify the respective Fund and the Distributor with respect to all direct costs, expenses and losses caused by the Company's failure to transmit federal funds as required hereunder, relating thereto and the Company shall be responsible for any impact on Contract Owners.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) Payment for Trust Shares redeemed shall be made in federal funds transmitted by wire to 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 the redemption request (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). The Trust shall not be responsible for the proper disbursement or crediting of redemption proceeds by the Company or the Accounts.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) Any purchase or redemption request for Trust Shares held or to be held by Schedule 2 Accounts, Schedule 3 Accounts, or 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 payment for Trust Shares purchased is received by the Trust in federal funds prior to the Trust's close of business as disclosed from time to time in the Prospectus for such Series or Class (which at the time of the execution of this Agreement is the close of regular trading on the New York Stock Exchange).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) [The Company and the Trust shall provide each other with all information necessary to effect wire transmissions of federal funds to the other party or the other party's agents pursuant to such protocols and security procedures as the parties may agree upon from time to time. The Trust and the Company, as applicable, shall notify the other in writing of any changes in such information 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;(f) The procedures set forth in this Section 2.3 are subject to any additional terms set forth in the applicable Prospectus for the Series or Class and by the requirements of Applicable Law.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g) <u>NSCC</u>. The parties agree that they will ordinarily use the Fund/SERV system when the Company has the operational capacity to do so. When using Fund/SERV, the following provisions apply:

&nbsp;&nbsp;&nbsp;&nbsp;&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>Same Day Trades</u>. On each Business Day, the Company shall aggregate all purchase orders and redemption orders for each Account received by the Company prior to the Trust's close of business as defined from time to time in the applicable Prospectus of the relevant Series or Class (which as of the date of execution of this Amendment is defined as the close of regular trading on the New York Stock Exchange, normally 4:00 p.m. Eastern Time ("Close of Trading")) ("Day 1"). The Company shall communicate to the Trust by Fund/SERV the aggregate purchase orders and redemption orders (if any) for each Account received by the Close of Trading on Day 1 by no later than the NSCC's Defined Contribution Clearance & Settlement ("DCC&S") Cycle 8 (generally 7:30 a.m. Eastern Time) on the following Business Day ("Day 2"). The Trust shall treat all trades

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communicated to the Trust in accordance with the foregoing as if received prior to the Close of Trading on Day 1.

&nbsp;&nbsp;&nbsp;&nbsp;&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>Representations and Warranties</u>. The Company represents and warrants that all orders for net purchases or net redemptions derived from orders received by the Company and transmitted to Fund/SERV for processing on or as of Day 1 shall have been received in proper form and time stamped by the Company prior to the Close of Trading on Day 1. The Company represents and warrants that it has, maintains and periodically tests procedures and systems in place reasonably designed to prevent orders received after the Close of Trading on Day 1 from being executed with orders received before the Close of Trading on Day 1. The Company represents that orders it receives after the Close of Trading on Day 1, but before the Close of Trading on Day 2, will be transmitted to the Trust using Day 2's net asset value. The Company will provide such information as may be reasonably requested by the Trust or Distributor to provide assurance that the Company is complying with the foregoing procedures. The Trust or Distributor may request a detailed explanation and demonstration relating to the operation of such internal controls as part of regular due diligence efforts.

The Company and Distributor represent and warrant that each: (a) has entered into an agreement with NSCC; (b) has met and will continue to meet all of the requirements to participate in Fund/SERV and Networking; (c) intends to remain at all times in compliance with the then current rules and procedures of NSCC, all to the extent necessary or appropriate to facilitate such communications, processing, and settlement of share transactions; and (d) will notify the other parties to the Agreement if there is a change in or a pending failure with respect to its agreement with NSCC.

The Trust, Distributor and Company each represents and warrants to the other that it has the necessary facilities, equipment and personnel to perform all of its responsibilities pursuant to this Amendment and that all such responsibilities will be performed competently and in accordance with (a) all applicable laws, regulations and rules, (b) the Prospectuses and Statements of Additional Information, as amended from time to time, of the relevant Series of the Trust that are offered under the Agreement, (c) NSCC's rules, procedures and allocations of responsibility for Fund/SERV, and (c) any agreements between the parties including, without limitation, any selling or service agreement.

The Company represents and warrants that: (a) any information it supplies to the Trust or Distributor will be accurate, complete and in the appropriate format; (b) all instructions, communications and actions by the Company regarding each Account shall be true and correct and will have been duly authorized by such Account; and (c) it shall adopt, implement and maintain procedures reasonably designed to ensure the accuracy of all transmissions through Fund/SERV and to

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limit the access to, and the inputting of data into, Fund/SERV and Networking to persons specifically authorized 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;&nbsp;&nbsp;&nbsp;&nbsp;(iii) The Trust shall calculate the net asset value per share of each Series on each Business Day, and shall furnish to the Company through NSCC's Networking or Mutual Fund Profile System: (a) the most current net asset value information for each Series; and (b) in the case of fixed income funds that declare daily dividends, the daily accrual or the interest rate factor. All such information shall be furnished to the Company by 6:30 p.m. Eastern Time on each Business Day or at such other time as that information becomes available.

&nbsp;&nbsp;&nbsp;&nbsp;&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) The Company will wire payment for net purchase orders by the Trust's NSCC Firm Number, in immediately available funds, to an NSCC settling bank account designated by the Company in accordance with NSCC rules and procedures on the same Business Day such purchase orders are communicated to NSCC. For purchases of shares of daily dividend accrual funds, those shares will not begin to accrue dividends until the day the payment for those shares is 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;&nbsp;&nbsp;&nbsp;&nbsp;(v) The Trust will redeem any full or fractional shares of any Series, when requested by the Company on behalf of an Account, at the net asset value next computed after receipt by the Trust (or its agent or the Company as the Trust's designee) of the request for redemption, as established in accordance with the provisions of the then current Prospectus of the Trust. NSCC will wire payment for net redemption orders by the Trust, in immediately available funds, to an NSCC settling bank account designated by the Company in accordance with NSCC rules and procedures on the Business Day such redemption orders are communicated to NSCC, except as provided in the Trust's Prospectus and Statement of Additional Information.

&nbsp;&nbsp;&nbsp;&nbsp;&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) The Trust shall furnish through NSCC's Networking or Mutual Fund Profile System on or before the ex-dividend date, notice to the Company of any income dividends or capital gain distributions payable to the Accounts on the shares of any Series. The Company hereby elects to receive all such income dividends and capital gain distributions as are payable on shares of a Series in additional shares of that Series, and the Company reserves the right to change this election in the future. The Trust will 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;&nbsp;&nbsp;&nbsp;&nbsp;(vii) All orders are subject to acceptance by the Distributor and become effective only upon confirmation by the Distributor. The Distributor reserves the right: (a) not to accept any specific order or part of any order for the purchase or exchange of shares through Fund/SERV; and (b) to require any redemption order or any part of any redemption order to be settled outside of Fund/SERV, in which case the order or portion thereof shall not be "confirmed" by the Distributor, but

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rather shall be accepted for redemption in accordance with Section 2.3(g)(viii) 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;&nbsp;&nbsp;&nbsp;&nbsp;(viii) All trades placed through Fund/SERV and confirmed by the Distributor via Fund/SERV shall settle in accordance with the Distributor's profile within Fund/SERV applicable to the Company. The Distributor agrees to provide the Company with account positions and activity data relating to share transactions via Networking.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ix) If on any specific day the Company or Distributor are unable to meet the NSCC deadline for the transmission of purchase or redemption orders for that day, a party may at its option transmit such orders and make such payments for purchases and redemptions directly to the Company or Trust, as applicable, as is otherwise provided in the Agreement; provided, however, that the Trust must receive written notification from the Company by 8:00 a.m. Eastern Time on any day that the Company wishes to transmit such orders and/or make such payments directly to 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;&nbsp;&nbsp;&nbsp;&nbsp;(x) In the event that the Company or Trust is unable to or prohibited from electronically communicating, processing or settling share transactions via Fund/SERV, the Company or Trust shall notify the other, including providing the notification provided above in Section 2.3(g)(viii). After all parties have been notified, the Company and Trust shall submit orders using manual transmissions as are otherwise provided in the 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;&nbsp;&nbsp;&nbsp;&nbsp;(xi) Each party to the Agreement agrees that, in the event of a material error resulting from incorrect information or confirmations, the parties will seek to comply in all material respects with the provisions of applicable 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;&nbsp;&nbsp;&nbsp;&nbsp;(xii) In all circumstances where overpayments, including, without limitation, distributions, are made to the Company pursuant to this Section 2.3(g), the Company shall repay such amounts promptly, but in no event more than fifteen (15) days after the Company receives notice of such overpayment. If such amounts are not repaid timely, the Company authorizes the Trust, Distributor or any of their affiliates to offset any amount overpaid to the Company against amounts otherwise payable to the Company by the Trust, Distributor or by any of their affiliates, including, without limitation, commissions, service fees and redemption proceeds from omnibus, house, or street name accounts, after written notice to the company. In addition, processing errors which result from any delay or error caused by the Company may be adjusted through Fund/SERV by the Company by the necessary transactions on an as-of basis and the cost to the Trust or Distributor of such transactions shall be borne by the Company; provided however, prior authorization

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must be obtained from the Trust or Distributor if the transaction is back dated more than five days or to a previous calendar 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;&nbsp;&nbsp;&nbsp;&nbsp;(xiii) If the duties, restrictions or responsibilities for Fund/SERV or Networking are modified by NSCC, a party may request an amendment to the Agreement to provide for such changes. However, duties shall remain as stated herein until an amendment is executed by all of 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;&nbsp;&nbsp;&nbsp;&nbsp;(xiv) NSCC's rules and procedures relating to Fund/SERV and Networking shall govern any matter in which any provision contained in this Section 2.3(g) conflicts with any such NSCC rule or procedure.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(xv) The Company is responsible for communicating in each of its instructions to the Trust or Distributor the correct account number assigned by a Series of the Trust to an Account.

&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 and Class available to the Company by 6:30 P.M., New York time or as soon as reasonably practicable after the computation of the same. The Trust shall calculate such net asset values in accordance with the Prospectus for such Series or Class.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**2.5. Dividends and Distributions.** The Trust shall furnish notice to the Company by 6:30 P.M., New York Time or 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 Accounts, hereby elects to receive all such dividends and distributions in the form of additional shares of that Series or Class. The Company reserves the right, on its behalf and on behalf of the Accounts, 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;**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 Accounts. Purchase and redemption orders for Trust Shares shall be recorded in an appropriate ledger for each Account.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**2.7. Pricing Errors.** Any material errors in the calculation of the net asset value of a Fund, the net asset value per share of any Series or Class of Trust Shares, dividends or capital gain information shall be reported to the Company immediately upon discovery. An error shall be deemed "material" based on the Trust's written pricing error policies, applied consistently and in accordance with Applicable Law. To the extent necessary for the Company to reimburse Contract Owners for actual loses, the Distributor shall reimburse the Company for losses arising as a direct result of any material error in the calculation of the net asset value of any Fund or the net asset value per share of any Series or Class of Trust Shares. Neither the Trust, any Fund, the Distributor,

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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 Company to the Trust or the Distributor.

&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 other Qualified Persons. 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 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;**2.9. Disruptive Trading.** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) The Trust has adopted policies designed to prevent frequent purchases and redemptions of any Series of Trust Shares in quantities great enough to: (i) disrupt orderly management of the corresponding Fund's investment portfolio, or (ii) dilute the value of the outstanding Trust Shares of that Series ("Disruptive Trading Policies"). 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. As a procedure in furtherance of its Disruptive Trading Policies, the Trust may assess fees, to be paid by one or more Accounts or by the Company, upon redemption of one or more Series or Classes of Trust Shares within certain stated time periods after such shares have been purchased.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) 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, from time to time, to implement procedures regarding transactions in Account units reasonably designed to effectuate the Trust's procedures for preventing disruptive trading in Trust Shares. In particular, in the event that the Trust or the Distributor identifies a particular Contract Owner as having engaged in transactions in Account units that directly or indirectly violate the Trust's Disruptive Trading Policies, the Company agrees, at the written request of the Trust or the Distributor, to restrict or prohibit further transactions in Account units by that Contract Owner which could result in additional purchases and redemptions of a specified Series and/or Class of Trust Shares in violation of the Trust's Disruptive Trading Policies.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) In furtherance of Section 2.9(b), the Trust and the Distributor may, from time to time, investigate purchases and redemptions of any Series or Class of Trust Shares by the Company on behalf of the Accounts that appears to violate, or has the potential to violate, the Trust's Disruptive Trading Policies. When requested by the Trust or the

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Distributor in writing, the Company agrees to provide the following with respect to purchases and redemptions of a specific Series and/or Class of Trust Shares over a designated period:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;● the identity of the Contract Owner or Contract Owners whose transactions in Account units underlies the Trust
share purchases and redemptions being investigated,

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;● the amounts and dates of transactions in Account units during the designated period representing an indirect
investment in the Series and/or Class of Trust Shares being investigated, and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;● the identity of any investment professional known by the Company to be associated with the Contract Owner or
Contract Owners.

The Company agrees to provide the foregoing information that is on its books and records promptly. If the requested information is not on its books and records, it agrees to make reasonable efforts to:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;● promptly obtain the requested information, or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;● if requested by the Trust or the Distributor restrict or prohibit further transactions in Account units by
that Contract Owner which could result in additional purchases and redemptions of a specified Series and/or Class of Trust Shares.

**ARTICLE III** 

**Representations and Warranties** 

&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 the laws of the jurisdiction of its organization, (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 1 Account is 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, except as provided in Article 4.2 of this Agreement, has effective Registration Statements 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

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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), (k) as long as this Agreement remains in effect, it shall use reasonable efforts to remain in continuous compliance with Article 6.3, Article 6.4 and Article 6.5 of this Agreement, (l) it complies with the requirements of Rule 498A under the 1933 Act and Applicable SEC Guidance regarding the Rule in connection with delivery of Summary Prospectuses for the Series and Classes of Trust Shares available under this Agreement, (m) it maintains policies and procedures reasonably designed to ensure that it can meet obligations in connection with Summary Prospectuses, (n) it will notify the Distributor and the Trust promptly if for any reason it is unable to perform its obligations under this Agreement, (o) with respect to any Schedule 3 Accounts: (1) the principal underwriter for each Schedule 3 Account and any subaccounts thereof is a broker or dealer registered with the SEC under the Securities Exchange Act of 1934 or a person controlled (as defined in the 1940 Act) by such a broker or dealer; (2) shares of a Fund are and will continue to be the only securities held by the relevant subaccount; (3) it will either (i) seek instructions from Contract Owners with account value in the Schedule 3 Accounts allocated to shares of a Fund with regard to the voting of all proxies solicited in connection with the Fund and will vote those proxies only in accordance with those instructions, or (ii) vote such Fund shares held in the Schedule 3 Accounts in the same proportion as the vote of all the Fund's other shareholders; and (4) to the extent such approval is required by Applicable Law, it will not substitute another security for shares of the Fund held in a Schedule 3 Account unless the SEC has approved the substitution in the manner provided in Section 26 of the 1940 Act.

&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 Delaware law, (b) it is 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 use reasonable efforts to remain in continuous compliance with Article 6.1 and Article 6.2 of this Agreement, (g) the Trust's Board, a majority of whom are not interested persons of the Trust, have formulated and approved any plans to finance distribution expenses pursuant to Rule 12b-1 under the 1940 Act ("Rule 12b-1 Plans"), (h) the Trust or its service provider complies with the requirements of Rule 498 under the 1933 Act and Applicable SEC Guidance regarding the Rule in connection with the offer and sale of Trust Shares, (i) the Trust or its service provider maintains policies and procedures reasonably designed to ensure that Fund Documents are

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available on the Fund Documents Web Site in the manner required by Rule 498(e)(1), (e)(2), and (e)(3) and Applicable SEC Guidance related thereto, and (j) as provided by Rule 498(e)(4)(ii), the Trust or its service provider shall take prompt action to ensure that Fund Documents become available in the manner required by Rule 498(e)(1), (e)(2), and (e)(3) and Applicable SEC Guidance as soon as practicable following the earlier of the time it knows or should reasonably have known that the Fund Documents are not available in the required manner.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**3.3. Distributor.** The Distributor represents and warrants that: (a) it is a limited partnership duly organized and in good standing under New York law, and (b) it is registered as a broker-dealer under federal and applicable state securities laws and is a member in good standing of FINRA.

&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.

**ARTICLE IV** 

**Regulatory Requirements** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**4.1. Trust Filings.** The Trust shall amend its 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 its 1940 Act Registration Statement as required by the 1940 Act to maintain its registration under the 1940 Act for as long as Trust Shares are outstanding. The Trust shall file Form 24F-2 and pay 1933 Act registration fees for all Series and Classes of Trust Shares as required by Rule 24f-2 under the 1940 Act. The Trust shall comply in all material respects with the 1940 Act.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**4.2. Account Filings.** The Company shall amend the Registration Statement for each Schedule 1 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 may be made under such Contracts. Notwithstanding the foregoing, the Company: (a) may permit the effectiveness of a Schedule 1 Contract's Registration Statement expire if upon request of the Trust, 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 1 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 Contracts issued through that

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Account are in force except as provided in Section 4.2(a). With regard to each Schedule 1 Account and, as applicable, Schedule 3 Account, the Company shall comply in all material respects with the 1940 Act. The Company shall make such filings and take such other actions as are required by the exemptions and exclusions on which it relies.

The Company shall be responsible for filing all Contract forms, applications, marketing materials and other documents relating to the Contracts and/or the Accounts with state insurance commissions, as required or as is 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;**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. Except as provided below, the Company also shall deliver (or arrange for delivery of) a Summary 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 Contract Owner allocates premium payments to or transfers Contract value. In addition, the Company reserves the right to deliver (or arrange for delivery of) the Statutory Prospectus in place of the Summary Prospectus. The Company shall deliver (or arrange for delivery of) such Summary or Statutory Prospectuses at the times and in the manner required by applicable provisions of Rule 498A under the 1933 Act and rules or regulations thereunder and Applicable SEC Guidance.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**4.4. Reliance on Rule 498A.** The Company intends to satisfy its requirement to deliver to Contract Owners, under certain circumstances, a Statutory Prospectus for the Funds by relying on (and complying with the requirements, terms and conditions of) paragraph (j) of Rule 498A under the 1933 Act ("Rule 498A") for "on-line" delivery. Accordingly, the following provisions apply:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) <u>Use of Contract Initial Summary Prospectus.</u> The Company shall ensure that an Initial Summary Prospectus (as defined in Rule 498A) is used for each currently offered Contract described under the related registration statement, in accordance with paragraph (j)(1)(i) of Rule 498A.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) <u>Use of Fund Summary Prospectus.</u> The Trust shall ensure that a Summary Prospectus (as defined in Rule 498A under the 1933 Act) is used for each currently offered Fund in accordance with paragraph (j)(1)(ii) of Rule 498A.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) <u>Provision of 498A Documents.</u> Subject to Section 4.6 below, the Trust shall provide to the Company the following documents (collectively, the "498A Documents"), as specified in paragraph (j)(1)(iii) of Rule 498A: (i) Summary Prospectuses for the Funds, (ii) Statutory Prospectuses for the Funds, (iii) Statements of Additional Information for the Funds, and (iv) most recent annual and semi-annual reports to shareholders (under Rule

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30e-1 under the 1940 Act) for the Funds (together, the "Shareholder Reports"). The Trust and the Distributor shall use commercially reasonable efforts to provide the Shareholder Reports, Summary Prospectuses, Statutory Prospectuses, and Statements of Additional Information for the Funds to the Company (or its designee) on a timely basis (to facilitate the Web site posting required under paragraph (j)(1)(iii) of Rule 498A) and provide updated versions as necessary, in order to facilitate a continuous offering of the Contracts.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) <u>Fund Expense and Performance Data.</u> The Trust shall provide such data regarding each Fund's expense ratios and investment performance made publicly available by the Fund as the Fund is required to prepare for inclusion in the Fund's Prospectus, as the Company shall reasonably request, to facilitate the registration and sale of the Contracts. Without limiting the generality of the forgoing, the Trust shall provide the following Fund expense and performance data on a timely basis to facilitate the Company's preparation of its annually updated registration statement for the Contracts: (i) the "Total Annual Fund Operating Expenses" for each Fund calculated in accordance with Item 3 of Form N-1A, that include any expense reimbursements or fee waiver arrangements, and the period for which the expense reimbursements or fee waiver arrangement is expected to continue and whether it can be terminated by the Fund; and (ii) the "Average Annual Total Returns" for each Fund (before taxes) as calculated pursuant to Item 4(b)(2)(iii) of Form N-1A.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**4.5. Specific Requests for Summary Prospectuses.** The Company shall deliver or provide all Summary Prospectuses and all Statutory Prospectuses in compliance with the requirements of Rule 498A and any Applicable SEC Guidance.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**4.6. Web Site Hosting.** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) The Trust or its service provider shall maintain the Fund Documents Web Site. The Trust or its service provider shall provide the Company or its service provider with URLs to the current Fund Documents for use with the Company's electronic delivery of Fund Documents or on the Company's Web site to fulfill Company's obligations under Rule 498A under the 1933 Act as further set forth in Section 5.4 below.

The Company will be responsible for the maintenance of any web links to such URLs on the Company's Web site. The Trust agrees to use commercially reasonable efforts to employ procedures consistent with industry practices designed to reduce exposure to viruses. However, the Trust and the Distributor make no warranty, express or implied, that the Fund Documents Web Site, the Fund Documents, or any URLs provided will be free from any defects, bugs, errors or malfunctions.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) The Company shall maintain the Web site specified in paragraph (j)(1)(iii) of Rule 498A, so that the relevant 498A Documents are publicly accessible, free of charge, at that Web site, in accordance with the conditions set forth in that paragraph, provided that the Trust and the Distributor fulfill their obligations under this Article IV, if any. The

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Company shall be solely responsible for the development and operation of such Web site and hereby represents to the Trust and the Distributor that such website conforms to all legal and regulatory requirements, including but not limited to subparagraph (j)(1)(iii) of Rule 498A. In addition, the Trust and the Distributor are not responsible for any additional costs that may be incurred by the Company as a result of the Company's obligations as specified in this Agreement to place 498A Documents on the Company's Web site, other than as expressly stated in this Agreement. The Company shall also make reasonable efforts to comply with the "safe harbor" provisions, terms and conditions of paragraph (h)(4) of Rule 498A.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**4.7. Response to Requests for Additional Fund Documents and 498A Documents.** Within three (3) Business Days of receiving a request for a paper copy of a Fund Document, the Trust shall promptly send the same to the person requesting it free of charge. Within three (3) Business Days of receiving a request for an electronic copy of a Fund Document, the Trust shall send, by e-mail to the requestor, either a PDF copy of, or an electronic link to, the same free of charge. The Company shall respond in accordance with Rule 498A to requests for additional Fund Documents made by a person directly to the Company or one of its affiliates. The Company assumes sole responsibility for ensuring that the 498A Documents are delivered to Contract Owners in accordance with Rule 498A. Without regard to expense allocation, the Company shall be responsible for fulfilling ad hoc requests from Contract Owners for a paper copy of any 498A Document, in accordance with paragraphs (i)(1) and (j)(3) of Rule 498A.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**4.8. Cessation of Use of Summary Prospectuses.** The Trust shall provide the Company with at least thirty (30) days advance written notice of its intent to cease using the Summary Prospectus delivery option so that the Company can arrange to deliver a Statutory Prospectus in place of a Summary Prospectus in compliance with Section 4.3 of this Agreement. In order to comply with Rule 498(e)(1), the Trust shall continue to maintain the Fund Documents Web Site in compliance with the requirements of this Agreement and Rule 498 for a minimum of 90 days after the termination of any such notice period.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**4.9. Voting of Trust Shares.** To the extent required by the 1940 Act or Rule 6e-2 or Rule 6e-3(T) thereunder, or other Applicable Law and subject to the Trust's obligation to provide such material as contemplated in Section 5.4 below, whenever the Trust shall have a meeting of holders of any Series or Class of Trust Shares, the Company shall:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;● solicit voting instructions from Contract Owners;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;● vote Trust Shares held in each Account at such shareholder meetings in accordance with instructions received
from Contract Owners;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;● 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; and

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;● vote Trust Shares held in its general account in the same proportion as it votes the applicable Series or
Class of Trust Shares held by the Accounts for which it has received timely instructions.

Except with respect to matters as to which the Company has the right in connection with Schedule 1 Contracts 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.

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 or the conditions attaching thereto relating to voting of Trust Shares of which it becomes aware.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**4.10. State Insurance Law 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. The Company has determined that, as of the date of this Agreement, it is not aware of any additional investment restrictions under applicable state insurance laws that are required to be imposed on the Funds beyond those reflected in the Trust's current Prospectus. The Company shall inform the Trust in writing of any additional investment restrictions imposed by state insurance law after the date of this Agreement that become applicable to a Fund from time to time as a result of the Accounts' investment therein. Upon receipt of any such information from the 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 (which, 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.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**4.11. Interpretation of Law.** The Trust, the Distributor and their affiliates are not responsible or liable for acts or omissions by the Company or the Company's affiliates taken (or not taken) in reliance upon any statements or representations made by the Trust, the Distributor or any of their affiliates or their legal advisers, to the Company or the Company's affiliates concerning the applicability of any Applicable Law or Applicable SEC Guidance to the activities contemplated by this Agreement.

The Company and its affiliates are not responsible or liable for acts or omissions by the Trust, the Distributor and their affiliates taken (or not taken) in reliance upon any statements or representations made by the Company or its affiliates or their legal advisers, to the Trust, the

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Distributor and their affiliates concerning the applicability of any Applicable Law or Applicable SEC Guidance to the activities contemplated by this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**4.12. 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;**4.13. 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, information statements, solicitations for voting instructions, applications for exemptions (including applications by the Company to the SEC seeking approval of substitutions of any Fund under Section 26(c) of the 1940 Act), 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 documents.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**4.14. 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, information statements, solicitations of voting instructions, applications for exemptions (including applications by the Company to the SEC seeking approval of substitutions of any Fund under Section 26(c) of the 1940 Act), requests for "no-action" letters, and all amendments or supplements to any of the above, that relate to the Trust, the Contracts or the Accounts, 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 Accounts). If the Trust, Distributor or any of their affiliates are named in the filing(s), the Company shall send the filings to the contacts listed in Article XII.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**4.15. 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 4.14 of this Agreement. If the Trust, Distributor or any of their affiliates are named in the regulatory response(s), the Company shall send the regulatory response(s) to the contacts listed in Article XII.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**4.16. Complaints and Proceedings** 

&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

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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;(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;(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 with such party arising in connection with the Trust or the Accounts or 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;(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;**4.17. Cooperation.** Each party hereto shall cooperate with the other parties and all appropriate government authorities (including without limitation the SEC, FINRA 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.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**4.18. Money Market Fund.** The Company acknowledges and agrees that Contract Owners will suffer no financial loss or other harm in the event that the Trust Board determines to temporarily or permanently use market values rather than the amortized cost value to value the assets of the Trust's Money Market Fund, thereby preventing the Trust from maintaining a constant net asset value per share for the Money Market Fund Class of Trust Shares.

**ARTICLE V** 

**Sale, Administration and Servicing of the Contracts** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**5.1. Sale of the Contracts.** The Company shall be responsible, as between the parties, for the sale and marketing of the Contracts. The Company shall provide Contracts, the Contracts' and Trust's Prospectuses (or Summary 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 Applicable Law. Without limiting the generality of the foregoing, the Company shall: (1) 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:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;● all persons offering or selling the Contracts are duly licensed and registered under Applicable Law,

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;● all individuals offering or selling the Contracts are duly appointed agents of the Company and are registered
representatives of a FINRA member broker-dealer,

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;● each sale of a Contract satisfies all suitability requirements under Applicable Law,

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;● all 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

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;● no persons offering or selling the Contracts 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;● Prospectuses are delivered as required by Article IV of this Agreement and Applicable Law.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**5.2. Anti-Money Laundering.** The Company shall comply with all Applicable Laws 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:

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;● 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,

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;● 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,

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;● 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,

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;● 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 "specially designated national" or a person from an embargoed or "blocked" country as indicated by the OFAC list of such persons,

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;● 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

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;● 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 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;**5.3. Anti-Bribery.** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) The Company warrants that in any way related to this Agreement, it and its affiliates, agents, and employees will at all times comply with all applicable laws, regulations, including self-regulatory organization ("SRO") regulations, and administrative requirements, including those pertaining to tax reporting and tax compliance, tax evasion or the facilitation of tax evasion, and those dealing with bribery, corruption, improper or illegal payments, gifts,

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gratuities or money laundering, and shall take no action which would subject the Trust to penalties under applicable laws, regulations and administrative requirements.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) The Company represents that, in connection with this Agreement, it has not and warrants that it will not (i) make (or cause to be made), offer, promise, or authorize any payments or gifts or anything of value, directly or indirectly, to any Public Official (as defined below) or to any other person to secure an improper advantage, improperly obtain or retain business or an improper advantage, or otherwise to induce any person to perform their duties improperly, or (ii) pay, offer, or agree to pay (or cause to be paid, offered or agreed to be paid) any political contributions or donations. In performing this Agreement, the Company agrees to not knowingly authorize, make, permit to be made, or allow any agents, subcontractors, vendors, consultants, or other third parties ("Third Parties") to make any payments, which, if made by the Company, would violate this Agreement. As used in this Agreement, "Public Official" means any person holding an elected or appointed office and any other officer or employee of a government or a department, agency, instrumentality or part thereof (including a state-owned or -controlled enterprise or a joint venture/partnership with a government entity), any officer or employee of a public international organization or a political party, and any candidate for political office; or any person exercising a public function or acting in an official capacity for or on behalf of any of the foregoing.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) The Company represents that, in connection with this Agreement, it has not and warrants that it will not receive or solicit bribes, kickbacks, or other improper benefits related to its services to the Trust.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) The Company hereby acknowledges that it has received and reviewed a copy of the Goldman Sachs Anti-Bribery and Anti-Corruption Compliance Statement (available at https://www.goldmansachs.com/investor-relations/corporate-governance/corporate-governance-documents/anti-bribery-program.pdf , which may be amended from time to time), setting forth the Trust's anti-corruption policy with respect to its business activities and relations with clients and prospective clients, and warrants and agrees that in connection with this Agreement, the Company will act on a consistent basis with such Statement and in no event shall take any action that would cause or reasonably be expected to cause the Trust to be in violation of such Statement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) To the extent the Company retains Third Parties to perform material obligations directly in connection with its obligations to the Trust under this Agreement, the Company warrants that it will ensure appropriate, risk-based due diligence is conducted on each such Third Party consistent with industry best practices, provide appropriate training to relevant employees of the Third Parties, monitor their activities to ensure compliance with applicable laws as it relates to this Agreement, and take such other steps as are reasonable and proportionate to ensure compliance with applicable laws related to the Agreement, as well as the terms and conditions of this Agreement. The Company shall ensure that its contracts with Third Parties approved by the Firm include clauses (a) – (c) above.The Company also agrees to comply with any other reasonable requirements set forth by the Trust as part of the Company's retention of Third Parties related to the Agreement.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) The Company agrees to give prompt written notice to the Trust in the event that at any time during the term of this Agreement the Company becomes aware that any representations set forth in this Section are no longer accurate or the Company has failed to comply with or has breached any of its warranties hereunder. In the event of such notice, or if the Trust otherwise verifies or determines reasonably and in good faith that the representations are no longer true and accurate or that the Company has failed to comply with or has breached any of its warranties hereunder, then the Trust shall have the unilateral right to terminate this Agreement; provided, however, that the Trust may provide the Company with the opportunity to cure such failure or breach in accordance with the following procedures: Goldman Sachs shall provide the Company with written notice describing such failure or breach with a request to cure such failure or breach. The Company shall then have thirty (30) days from receipt of such notice to cure such failure or breach, provided that no cure period shall apply in the case of fraud, willful misconduct, or violations of applicable anti-corruption laws. If the Company fails to cure such failure or breach within the applicable cure period (or if no cure period applies), the Trust may terminate this Agreement immediately upon written notice. In such event or upon the Trust's determination to terminate without a cure period, the Company shall not be entitled to receive any compensation from the time of such failure or breach, including for services previously rendered to the extent that those services are related to the failure or breach.t.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**5.4. 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 Accounts, 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, information statements, proxy statements and other voting instruction solicitation materials, and updated Trust Prospectuses (or Summary Prospectuses) as required by Applicable Law and subject to the Trust's obligation to deliver such materials to the Company as stated in Sections 4.6 and 4.9.

&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 Applicable Law, the Trust shall provide the Company with:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) the 498A Documents for the Series and Classes listed on Schedules 1B, 2B, and 3B 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;● are both human-readable and capable of being printed on paper in human-readable format (in accordance with paragraph (h)(2)(i) of Rule 498A);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;● permit persons accessing the Fund's 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

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;● permit persons accessing the 498A 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); and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) a copy, in camera-ready form or form otherwise suitable for printing or duplication, of any Trust proxy soliciting material for such Series or Classes.

The Trust shall provide the Company, sufficiently in advance of any meeting of holders of Trust Shares, with copies of all proxy statements, information statements, solicitations for voting instructions and other materials required by Applicable Law to be furnished to Contract Owners in connection with such meeting, in such form and quantity (including electronic format, where applicable) as the Company may reasonably request to permit the Company to comply with its obligations under Section 4.9 and Applicable Law.

The Trust and the Company may amend this section 5.5, but the Trust reserves the right to require its prior approval of the printing of the foregoing documents. 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 such as electronic mail or attachments thereto) without the prior written consent of the Distributor. Nothing in this section shall relieve the Company of its obligations under Rule 498A.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**5.6. Company Advertising Material.** The Company shall be responsible for ensuring that any advertising, sales literature or other promotional material prepared by or on behalf of the Company in which the Trust, a Fund, the Distributor or an affiliate thereof is named or referred to is not materially inaccurate, misleading or otherwise is in compliance with Applicable Law. Upon reasonable written request of the Trust, a Fund, or Distributor, the Company shall furnish to the Trust or the Distributor each piece of advertising, sales literature or other promotional material in which the Trust, a Fund, the Distributor or an affiliate thereof is named. If the Trust or the Distributor reasonably determines that any such material is materially inaccurate, misleading, or otherwise not in compliance with Applicable Law to the extent related to the mention of the Trust, a Fund, the Distributor or an affiliate thereof, the Trust or the Distributor may notify the Company in writing, and the Company shall use commercially reasonable efforts to cease further use of such material or to revise it to address the identified concerns.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**5.7. Trusts Advertising Material.** The Trust and the Distributor shall be responsible for ensuring that any advertising, sales literature or other promotional material prepared by or on behalf of the Trust or the Distributor in which the Company or any affiliate thereof, any Account or any Contract is named or referred to is not materially inaccurate, misleading or otherwise is in compliance with Applicable Law. Upon reasonable written request of the Company, the Trust or the Distributor shall furnish to the Company each piece of advertising, sales literature or other

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promotional material in which the Company or an affiliate thereof, an Account or a Contract is named. If the Company reasonably determines that any such material is materially inaccurate, misleading, or otherwise not in compliance with Applicable Law to the extent related to the mention of the Company or any affiliate thereof, any Account or any Contract is named or referred to, the Company may notify the Trust or the Distributor in writing, and the Trust or the Distributor shall use commercially reasonable efforts to cease further use of such material or to revise it to address the identified concerns.

&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 in a manner that is materially misleading, inaccurate, or inconsistent with Applicable Law. Upon reasonable written notice, a party may require the other party to cease or revise any use of its name, logo, trademark or service mark that does not comply with this Section 5.8.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**5.9. Additional Covenants and 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 proxy statements for the Trust, or in advertisements, sales literature or other promotional material prepared in accordance with this Article V, or in published reports or statements of the Trust in the public domain.

The Company represents that advertisements, sales literature or other promotional material for the Contracts prepared by the Company or its affiliates are and will be consistent with Applicable Law, including, but not limited to, FINRA Conduct Rules 2210 , 2212, 2213, and 2214.

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 used solely in the manner so intended. 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 agree that this Section 5.9 is not intended to imply that the Company is an underwriter or distributor of the Trust's shares or a dealer in the Trust's shares.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**5.10. Additional Covenants and 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 or statements by the Company or the Accounts which are in the public domain or in advertisements, sales literature or

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other promotional material approved in writing by the Company in accordance with this Article V.

The Trust represents 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 are and will be consistent with Applicable Law, including, but not limited to, FINRA Conduct Rules 2210, 2212, 2213, and 2214.

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 it is not so marked.

&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, advertising, or communications with the public under FINRA Conduct rules, the 1940 Act or the 1933 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:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;● 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),

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;● 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),

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;● educational or training materials or other communications distributed or made generally available to some or
all agents or employees, and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;● 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;**6.1. Section 817(h).** The Trust, on behalf of each Fund, will comply with Section 817(h) of the 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, to the extent

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applicable to the Fund as an investment company underlying the Account. The Trust shall notify the Company immediately upon having a reasonable basis for believing that a Fund has ceased to so comply and will not be able to comply within the grace period afforded by Treasury Regulation 1.817-5.

&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 of the Code 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 and will not be able to qualify within the grace period afforded by Section 851 of the Code.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**6.3. Company and Contracts.** The Company represents and warrants that it is a life insurance company within the meaning of Section 816(a) of the Code. The Company shall ensure that at the time each Contract is issued it is a variable contract (as defined in Section 817(d) of the Code) which 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, provided that the Company makes no representation or undertaking to the extent such treatment depends on compliance by the Trust or any Fund with applicable provisions of the Code. 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;**6.4 Regulation 1.817-5(f).** The Company shall ensure that no Fund fails to remain eligible for "look-through" treatment under Treasury Regulation 1.817-5(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 1.817-5(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.

**6.5 Modified Endowment Contracts.** [The Company shall ensure that any Prospectus offering a Contract that is designed to be a "*modified endowment contract*," as that term is 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;**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 borne

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by such party to the extent permitted by law, except as otherwise provided below or in a separate agreement.

&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;(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;(b) preparation and filing with the SEC of the Trust's Prospectuses, Summary Prospectuses, Statement of Additional Information, Registration Statement, information statements, proxy statements and other 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;(c) preparation of all statements and notices required by Applicable Law;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) provision and maintenance of the Fund Documents Web Site;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) printing of all information statements, proxy statements and other proxy materials, shareholder reports, Prospectuses, Summary 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 then invested in Accounts that hold Trust Shares; provided, however, that if the Company prints copies of a Trust Prospectus (or portions thereof) or Summary Prospectus as part of a larger document containing Prospectuses of other investment companies, any expense obligation of the Trust shall be limited only to 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 or Summary Prospectus bears to the total number of pages in the document;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) 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;(g) payment of all expenses of operating the Trust, including, without limitation, expenses relating to fees for custody, auditing, transfer agency services, legal services, investment management services, and insurance coverage, as well as Trustee compensation and 1940 Act Rule 24f-2 fees in connection with sales of Trust Shares to Schedule 2 Accounts, Schedule 3 Accounts, and Qualified Persons;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h) payment of any expenses permitted to be paid or assumed by the Trust pursuant to a Rule 12b-1 Plan and/or shareholder service plan; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) provision or printing of Trust proxy statements and other proxy materials required in connection with the Company's obligation to solicit voting instructions from Contract Owners.

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&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;(a) registration and qualification of the Schedule 1 Contracts under Applicable Law;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) preparation of Contract Prospectuses, preparation of Registration Statements with the SEC for Schedule 1 Contracts, payment of registration fees for Schedule 1 Contracts pursuant to Rule 24f-2 under the 1940 Act;

&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 compensation for Contract sales, printing and delivery of Contract Prospectuses to current and prospective Contract owners, and printing and delivery of the Trust's Prospectuses or Summary Prospectuses to prospective Contract Owners;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) provision and maintenance of internet websites other than the Fund Documents Web Site, including the Web site specified in paragraph (j)(1)(iii) of Rule 498A;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) administration of the Contracts;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) payment of all expenses of operating the Accounts; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g) preparation, printing and delivery of all statements and notices to Contract Owners required by Applicable Law other than those paid for by the Trust.

&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 paid by such other parties, but allocated to it. In addition, nothing herein shall prevent the parties from otherwise agreeing to perform, and arranging for appropriate compensation for, services relating to the Trust, the Distributor, the Company or the Accounts.

Notwithstanding anything else in this Agreement, pursuant to any Rule 12b-1 Plan adopted by the Trust, 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 Trust Shares to the Accounts through which such Contracts are issued. Likewise, pursuant to any shareholder service plan adopted and implemented by the Trust or any Series or Class thereof under Rule 12b-1 of the 1940 Act or otherwise, the Trust or the appropriate Series or Class may pay the Distributor and the Distributor may pay the principal underwriter or distributor of one or more classes of Contracts, or the Company, for activities related to personal service and/or

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maintenance of Contract Owner accounts and/or administration services, as permitted by such plan.

**ARTICLE VIII** 

**Potential Conflicts** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**8.1. SEC Order.** The parties to this Agreement acknowledge that the Trust has obtained 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 1.18 hereof). The relief provided by 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 and the Distributor reserve the right to determine that one or more provisions of this Article VIII are no longer applicable, and in that event will notify the Company to that effect. Upon receipt of such notice by the Company, this Agreement shall be deemed amended to eliminate the provisions of Article VIII specified in the notice.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**8.2. Company Monitoring Requirements.** The Company will monitor its operations with respect to 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;**8.3. Company Reporting Requirements.** The Company shall report any conflicts or potential conflicts to the Trust Board and will, at the request of the Trust, 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;**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

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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;**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;**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;**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 VIII 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;**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.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**8.9. Money Market Fund.** The Company acknowledges and agrees that the Trust's failure to maintain a constant net asset value per share for the Money Market Fund Class of Trust

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Shares, as contemplated by Section 4.17 of this Agreement, will not give rise to a material irreconcilable material conflict between the interests of Contract Owners or any class of Contract Owners and the interests of any other class of Product Owners, or Product Owners generally.

**ARTICLE IX** 

**Indemnification** 

&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 other 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;(a) arise out of or are based upon any untrue statement of any material fact or alleged untrue statement of material fact contained in a Contract Registration Statement, Contract 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 a Contract Registration Statement, Contract 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;(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 the Company; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) arise out of or are based upon any wrongful conduct of, or violation of Applicable Law by, the Company or persons under its control or subject to its

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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;(d) arise as a result of any material 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;(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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) arise out of any material breach of any warranties contained in Article II or III hereof, any material failure to comply with the procedures set forth in Article II, or any unauthorized use of the names or trade names of the Trust or the Distributor, to the extent such losses result from such breach or failure.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g) arise out of any negligent act or omission by the Company, the Company's correspondents or their agents relating to Networking and Fund/SERV; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h) arise out of the execution and settlement of redemption of non-certificated book shares or certificated shares of a Series of the Trust pursuant to instructions received from the Company, its agents, employees or representatives under the Agreement; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) arise out of the execution of any transactions with respect to Trust shares through Fund/SERV to the extent such execution is based on instructions or information supplied by or on behalf of the Company; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(j) arise out of the Trust's acceptance of any transaction or account maintenance information from the Company through Networking or Fund/SERV to the extent based on instructions or information supplied by or on behalf of the Company.

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, expense 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;**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

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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;(a) arise out of or are based upon any untrue statement of any material fact or alleged untrue statement of 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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) arise out of any untrue statement of a material fact or alleged untrue statement of material fact contained in a Contract Registration Statement, Contract 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 strict conformity with and in reasonable reliance upon information furnished in writing by the Trust to the Company; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) arise as a result of any material 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;&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 II or III hereof); or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) arise out of any negligent act or omission by the Trust or its agents relating to Networking and Fund/SERV, provided the Company has not acted negligently; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g) arise out of the Trust's failure to comply with the procedures set forth in Article II; or

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h) arise out of the Company's acceptance of any transaction or account maintenance information from the Trust through Networking or Fund/SERV to the extent such execution is based on instructions or information supplied by or on behalf of 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 4.10 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;**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;(a) arise out of or are based upon any untrue statement of any material fact or alleged untrue statement of 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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) arise out of any untrue statement of a material fact or alleged untrue statement of material fact contained in a Contract Registration Statement, Contract 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 strict conformity with and in reasonable reliance upon information furnished in writing by the Distributor to the Company; or

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) arise out of or are based upon wrongful conduct of the Distributor or persons under its control with respect to the sale of Trust Shares; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) arise as a result of any material 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;(e) arise out of any material breach by the Distributor or persons under its 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 4.10 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 willful misfeasance, bad faith, gross negligence or reckless disregard of duty by the party seeking indemnification.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**9.4. Economic Responsibility of the Trust.** 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. The Trust represents that it has, or will have, indemnification agreements in place with its investment adviser and other service providers that are designed to ensure that the Trust is able to satisfy its indemnification obligations under this Agreement, specifically with respect to losses arising from the acts or omissions of such adviser or service providers for which the Trust has indemnification obligations hereunder. The parties acknowledge and agree that the Trust's right to seek indemnification from any third party shall not limit, delay or condition the Company's right to seek and obtain indemnification directly from the Trust in accordance with this Agreement, and the Company shall not be required to pursue or exhaust any remedies against such third parties prior to seeking indemnification from the Trust.

&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

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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;**10.1. Relationship of Parties.** The Company is to be an independent contractor vis-a-vis the Trust, the Distributor, or any of their affiliates for all purposes hereunder and has no authority to act for or represent any of them (except to the limited extent the Company acts as designee of the Trust pursuant to Section 2.3(a) of this Agreement). In addition, no officer or employee of the Company shall be deemed to be an employee or agent of the Trust, Distributor, or any of their affiliates. The Company does 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 thereunder. Likewise, the Company is not a "transfer agent" of the Trust as that term is used in the 1934 Act and rules thereunder. Consistent with the foregoing, the Company is not a "transfer agent" or "administrator" to the Trust as those terms are referenced in Rule 38a-1 under the 1940 Act.

&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;(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 subject to Applicable Law;

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&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 Schedule 1 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;(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, except for disclosures or communications required by Applicable Law, regulatory authorities, or the terms of the Contracts.;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) the Company shall not substitute another investment company for one or more Funds without providing: (i) written notice to the Distributor as soon as reasonably practicable in advance of such substitution; and (ii) copies of any application by the Company to the SEC seeking approval of such substitution, if such application is required under Applicable Law, as required by Section 4.13 of this Agreement; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) the Company shall not redeem Trust Shares attributable to Contract Owner investments except as necessary to facilitate Contract Owner transactions, payment of expenses by Accounts, and routine Contract processing, or as permitted by Applicable Law or SEC Guidance.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**10.3. Termination of Agreement.** Except as otherwise provided herein, 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, 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. Articles III and IX and Section 10.8 shall survive any termination of this Agreement.

&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;(a) upon institution of formal proceedings against the Company, or the Distributor's reasonable determination that institution of such proceedings is being considered by FINRA, 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 30 days prior written notice;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&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;&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;&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 (*i.e.*, Product Owners indirectly invested in any Series or Class), 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;&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;(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, or such longer period as may be reasonably necessary to cure such breach, after written notice of such breach has been delivered to the Company, such termination effective upon expiration of such period; or

&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 Contracts issued after the exercise of the option 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;**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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) the Trust informs the Company pursuant to Section 4.10 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;(b) 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 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;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) 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;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) such Fund fails to qualify as a regulated investment company under Sub-Section 851 of the Code, or any successor 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 correct the failure within 30 days; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) the Company reasonably determines, based on advice of counsel, that continued investment in such Fund could cause the Company, any Account or any Contract to be treated as providing Contract Owners with impermissible "investor control" over the underlying assets of the Fund within the meaning of applicable provisions of the Code, Treasury Regulations, or published rulings or guidance thereunder, and the Trust, upon written request, fails to provide reasonable assurance that it or its investment adviser will take action to eliminate or mitigate such risk within a reasonable period of time.

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;**10.6. Termination of Investment in the Trust.** 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 Accounts' 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;&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 FINRA, the SEC or any state securities or insurance commission or any other regulatory body or upon the Company's reasonable determination, exercised in good faith, that the institution of such proceedings is being considered or that an expected or anticipated ruling, judgment or outcome could materially impair the Company's ability to meet its obligations under the Contracts or to administer the Accounts in compliance with applicable law; or

&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.

&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 or take such other action as may be reasonably necessary to address such failure or risk of failure, in each case to the extent required to preserve compliance with applicable provisions of the Code, including Section 817(h). Notice to the Company shall specify a reasonable period of time for the Company 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. Notwithstanding the foregoing, any redemption of Trust Shares by the Company pursuant to this Section 10.7 shall be effected in a manner consistent with the terms of the applicable Contracts and in compliance with applicable federal securities laws, state insurance laws, and any required regulatory approvals.

------

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**10.8. Confidentiality.** All "Confidential Information" (as defined in this section) supplied by one party to the another party in connection with the negotiation or carrying out of this Agreement shall remain the property of the party providing such information and shall be kept confidential by the receiving party or parties except: (a) as may be required by Applicable Law, (b) as authorized in writing by the party providing the information, or (c) in the event that such information is otherwise made public. Each party agrees to take all reasonable precautions to prevent any unauthorized disclosure of Confidential Information. Confidential Information means (individually or collectively) proprietary information of the parties to this Agreement, including but not limited to, their inventions, "know-how", trade secrets, business affairs, prospect lists, product designs, product plans, business strategies, finances, fee structures, etc. Without limiting the generality of the foregoing, Confidential Information includes: (a) information that the disclosing party designates in writing is confidential or proprietary, (b) any non-public personal information or personally identifiable financial information about any Contract Owner or prospective Contract Owner, and (c) information that a reasonable business-person would assume to be confidential or proprietary. Notwithstanding the foregoing, Confidential Information does not include information provided by the Company to the Distributor pursuant to section 2.9 of this Agreement.

**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 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 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:

Caroline Kraus

Secretary

Goldman Sachs Variable Insurance Trust

200 West Street

New York, NY 10282

If to the Distributor:

James McNamara

Goldman Sachs & Co.

200 West Street

New York, NY 10282

If to the Company:

New York Life Insurance and Annuity Corporation

Office of General Counsel – 10SB

51 Madison Avenue

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;New York, NY 10010

Attention Variable Products Attorney

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;**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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) This Agreement shall be subject to Applicable Law 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;(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.

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&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;(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;**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;**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;**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 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 | GOLDMAN SACHS VARIABLE INSURANCE 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; (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; (Trust) |
| Date: | By: |  |
|  |  | &nbsp;&nbsp;&nbsp; Name: |
|  |  | &nbsp;&nbsp;&nbsp; Title: |
|  | GOLDMAN SACHS & CO. LLC | GOLDMAN SACHS & CO. LLC |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Distributor) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Distributor) |
| Date: | By: |  |
|  |  | &nbsp;&nbsp;&nbsp; Name: |
|  |  | &nbsp;&nbsp;&nbsp; Title: |
|  | NEW YORK LIFE INSURANCE AND ANNUITY | NEW YORK LIFE INSURANCE AND ANNUITY |
| 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; (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; (Company) |
| Date: | By: |  |
|  |  | &nbsp;&nbsp;&nbsp; Name: |
|  |  | &nbsp;&nbsp;&nbsp; Title: |

---

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**SCHEDULE 1** 

**<u>Schedule 1A</u>**

**Separate Accounts of the Company Registered Under the 1940 Act as Unit Investment** 

**Trusts** 

The following separate accounts of the Company are subject to the Agreement:

---

| | | | |
|:---|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;Name of Account | Date Established by<br> Board of Directors of the Company | SEC 1940 Act<br> Registration Number | Type of Product<br> Supported by Account |
|  |  | 811- | Variable Annuity |
|  |  | 811- | Variable Annuity |
|  |  | 811- | Variable Annuity |
|  |  | 811- | Variable Life Insurance |

---

**<u>Schedule 1B</u>**

**All Variable Annuity Contracts and Variable Life Insurance Contracts Registered Under** 

**the Securities Act of 1933 and issued under the Separate Accounts on Schedule 1A** 

**Available Funds** 

<u>Goldman Sachs VIT International Equity Insights – Institutional Shares; Service Shares</u> 

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**[Form of Amendment to Schedule 1A]** 

Effective as of _______, the following separate accounts of the Company are hereby added to this Schedule 1A and made subject to the Agreement:

---

| | | | |
|:---|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;Name of Account | Date Established by<br> Board of Directors of the Company | SEC 1940 Act<br> Registration Number | Type of Product<br> Supported by Account |

---

IN WITNESS WHEREOF, the Trust, the Distributor and the Company hereby amend this Schedule 1A in accordance with Article XI of the Agreement.

---

| | |
|:---|:---|
| <u> </u><br> Goldman Sachs Variable Insurance Trust<br> Name:<br> Title: | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<br> ______________ Life Insurance Company<br> Name:<br> Title: |
| <u> </u><br> Goldman Sachs & Co. LLC<br> Name:<br> Title: |  |

---

------

**[Form of Amendment to Schedule 1B]** 

Effective as of _______, the following Contracts are hereby added to this Schedule 1B and made subject to the Agreement:

---

| | | | |
|:---|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;Name of Contract | Available Funds/Share<br> Classes | 1933 Act<br> Registration Number | Type of Product<br> Supported by Account |

---

IN WITNESS WHEREOF, the Trust, the Distributor and the Company hereby amend this Schedule 1B in accordance with Article XI of the Agreement.

---

| | |
|:---|:---|
| <u> </u><br> Goldman Sachs Variable Insurance Trust<br> Name:<br> Title: | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<br> ______________ Life Insurance Company<br> Name:<br> Title: |
| <u> </u><br> Goldman Sachs & Co. LLC<br> Name:<br> Title: |  |

---

------

**SCHEDULE 2** 

**<u>Schedule 2A</u>**

**Separate Accounts of the Company Excluded From the Definition of an Investment** 

**Company as Provided for by Section 3(c)(11) of the 1940 Act** 

The following separate accounts of the Company are subject to the Agreement:

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;Name of Account | Date Established by<br> Board of Directors of the Company | Type of Product<br> Supported by Account |
|  | | Variable Annuity |
|  | | Variable Annuity |
|  | | Variable Annuity |
|  | | Variable Life Insurance |

---

**<u>Schedule 2B</u>**

**All Variable Annuity Contracts and Variable Life Insurance Contracts Not Registered** 

**Under the Securities Act of 1933 in Reliance Upon Section 3(a)(2) of the Act issued by the** 

**Separate Accounts listed on Schedule 2A** 

**Available Funds** 

<u>Goldman Sachs VIT International Equity Insights – Institutional Shares</u> 

------

**[Form of Amendment to Schedule 2A]** 

Effective as of _______, the following separate accounts of the Company are hereby added to this Schedule 2A and made subject to the Agreement:

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;Name of Account | Date Established by<br> Board of Directors of the Company | Type of Product<br> Supported by Account |

---

IN WITNESS WHEREOF, the Trust, the Distributor and the Company hereby amend this Schedule 2A in accordance with Article XI of the Agreement.

---

| | |
|:---|:---|
| <u> </u><br> Goldman Sachs Variable Insurance Trust<br> Name:<br> Title: | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<br> ______________ Life Insurance Company<br> Name:<br> Title: |
| <u> </u><br> Goldman Sachs & Co. LLC<br> Name:<br> Title: |  |

---

------

**[Form of Amendment to Schedule 2B]** 

Effective as of _______, the following Contracts are hereby added to this Schedule 2B and made subject to the Agreement:

---

| | | | |
|:---|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;Name of Contract | Available Funds/Share Classes | Group or Individual | Type of Product<br> Supported by Account |

---

IN WITNESS WHEREOF, the Trust, the Distributor and the Company hereby amend this Schedule 2B in accordance with Article XI of the Agreement.

---

| | |
|:---|:---|
| <u> </u><br> Goldman Sachs Variable Insurance Trust<br> Name:<br> Title: | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<br> ______________ Life Insurance Company<br> Name:<br> Title: |
| <u> </u><br> Goldman Sachs & Co. LLC<br> Name:<br> Title: |  |

---

------

**SCHEDULE 3** 

**<u>Schedule 3A</u>**

**Separate Accounts of the Company Excluded From the Definition of an Investment** 

**Company as Provided for by Section 3(c)(1) or 3(c)(7) of the 1940 Act** 

The following separate accounts of the Company are subject to the Agreement:

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;Name of Account | Date Established by<br> Board of Directors of the Company | Type of Product<br> Supported by Account |
|  | | Variable Annuity |
|  | | Variable Annuity |
|  | | Variable Annuity |
|  | | Variable Life Insurance |

---

**<u>Schedule 3B</u>**

**All Variable Annuity Contracts and Variable Life Insurance Contracts Not Registered** 

**Under the Securities Act of 1933 in Reliance Upon Section 4(2) of the Act and Regulation D** 

**Thereunder issued by the Separate Accounts listed on Schedule 3A** 

**Available Funds** 

<u>Goldman Sachs VIT International Equity Insights – Institutional Shares</u> 

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**[Form of Amendment to Schedule 3A]** 

Effective as of _______, the following separate accounts of the Company are hereby added to this Schedule 3A and made subject to the Agreement:

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| | | |
|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;Name of Account | Date Established by<br> Board of Directors of the Company | Type of Product<br> Supported by Account |

---

IN WITNESS WHEREOF, the Trust, the Distributor and the Company hereby amend this Schedule 3A in accordance with Article XI of the Agreement.

---

| | |
|:---|:---|
| <u> </u><br> Goldman Sachs Variable Insurance Trust<br> Name:<br> Title: | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<br> ______________ Life Insurance Company<br> Name:<br> Title: |
| <u> </u><br> Goldman Sachs & Co. LLC<br> Name:<br> Title: |  |

---

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**[Form of Amendment to Schedule 3B]** 

Effective as of _______, the following Contracts are hereby added to this Schedule 3B and made subject to the Agreement:

---

| | | | |
|:---|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;Name of Contract | Available Funds/Share Classes | Group or Individual | Type of Product<br> Supported by Account |

---

IN WITNESS WHEREOF, the Trust, the Distributor and the Company hereby amend this Schedule 3B in accordance with Article XI of the Agreement.

---

| | |
|:---|:---|
| <u> </u><br> Goldman Sachs Variable Insurance Trust<br> Name:<br> Title: | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<br> ______________ Life Insurance Company<br> Name:<br> Title: |
| <u> </u><br> Goldman Sachs & Co. LLC<br> Name:<br> Title: |  |

---

## Ex-99.(I)(34)

**<u>Services Agreement</u>** 

Franklin Distributors, LLC

New York Life Insurance and Annuity Corporation

**THIS AGREEMENT**, is by and between Franklin Distributors, LLC ("Franklin"), and New York Life Insurance and Annuity Corporation (the "Company"), concerning certain services with respect to each series ("Fund" or "Funds") of Franklin Templeton Variable Insurance Products Trust (the "Trust"), which Funds are specified in the Participation Agreement, as may be amended from time to time, among the Company, the Trust, and Franklin Distributors, LLC (the "Underwriter"), among others, dated May 1, 2026 (the "Participation Agreement").

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. <u>Services.</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;(a) <u>Administrative services</u>. Services for the Company's Separate Accounts (the "Account" or "Accounts") which invest in the Funds pursuant to the Participation Agreement, and services for purchasers of variable life and annuity contracts (the "Contracts") issued by the Company through the Accounts, are and shall be the responsibility of the Company. Services with respect to the Funds in which the Accounts invest, and for purchasers of shares of the Funds, are and shall be the responsibility of Franklin or its affiliates. The Company has agreed to assist Franklin or its affiliates, as Franklin may request from time to time, with the provision of services ("Administrative Services") to the Funds, on a sub-administration basis, as they may relate to the investment in the Funds by the Accounts. It is anticipated that the Administrative Services may include, but may not be limited to, the services listed on Schedule A.

&nbsp;&nbsp;&nbsp;&nbsp;&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) <u>Marketing Support Services</u>. As part of efforts to promote sales of shares of the Funds, the Company may provide certain services to Franklin as mutually agreed to between Company and Franklin. These services may include (but are not limited to) any or all of the following: business planning assistance; advertising; education of Company's personnel about the Funds and the financial planning needs of Company's clients; use of Funds as underlying investment options of the Company's products (to the extent that the Funds satisfy Company's standards for such use); timely review and consideration of approval of new Funds as underlying investment options; and access by Franklin's and its affiliates' personnel to Company's personnel and representatives.

The Company agrees that it and its affiliates will not accept compensation for promoting or selling Fund shares in the form of commissions for brokerage transactions directed to it from a Fund portfolio transaction. In addition, the Company agrees that it or its affiliates will provide such point-of-sale disclosure as legally required regarding such services and related payments.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. <u>Payments for Services.</u> Franklin recognizes the Company, on behalf of the Accounts, as the shareholder of shares of the Funds purchased under the Participation Agreement on behalf of the Accounts. Franklin further recognizes that it will derive a substantial administrative convenience by virtue of having the Company be the shareholder of

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record of shares of the Funds purchased under the Participation Agreement, rather than multiple shareholders having record ownership of such shares. Franklin recognizes that the Company will provide services necessary to facilitate investment in the Funds and may provide services which may be considered to be marketing support services or that otherwise may result in the sale of Fund shares.

In consideration of the services provided by the Company hereunder and the administrative convenience resulting to the Franklin described above and the potential provisions of marketing support services, Franklin agrees to pay the Company a fee as set forth in Schedule B.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3. <u>Computation of Payments for Services.</u> As soon as practicable after the end of each quarter, Franklin will determine the net assets for the preceding quarter, of shares of the Fund as to which the fee stated in Schedule B is to be calculated. Franklin will calculate and pay the Company its fee within thirty (30) days after the end of the three-month periods ending in January, April, July and October as well as provide a statement to Company setting forth the calculation within (30) days of the following month after the end of the three-month period. Such payment will be by wire transfer unless the amount thereof is less than $500. Wire transfers will be sent to the bank account and in the manner specified by the Company. Such wire transfer will be separate from wire transfers of redemption proceeds and distributions. Amounts less than $500 shall be paid by check or by another method acceptable to both parties.

For purposes of this Paragraph 3, the average daily net asset value of the shares of a Fund will be based on the net assets reported by the Trust on behalf of each Fund to the Company. No adjustments will be made to such net assets to correct errors in the net asset value so reported for any day unless such error is corrected and the corrected net asset value per share is reported to the Company before 5:00 p.m. Eastern time on the first Business Day after the day to which the error relates. "Business Day" will 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;4. <u>Confidentiality of Payment Rate.</u> The Company acknowledges that the rate and amount of payments to be made to the Company under this Agreement are proprietary and confidential information of Franklin and its affiliates, and that disclosure of this information to third parties may cause damage to Franklin or its affiliates. The Company agrees to take any and all reasonable actions to limit disclosure of this information to only those of its employees, officers, consultants and agents who need the information in order to perform their duties, and to notify such persons of the terms of this paragraph. In the event any other party seeks to compel disclosure of confidential information through judicial or administrative process, then the Company shall promptly give Franklin written notice of such demand and, if requested by Franklin, shall cooperate in Franklin's efforts to challenge or limit any such disclosure. Violation of the confidentiality provision shall be grounds for immediate termination of the Agreement by Franklin in its sole discretion. Nothing in this Agreement shall prevent the Company from disclosing the existence of this Agreement in the Contracts' prospectuses or elsewhere. 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5. <u>Notice.</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 in Schedule C of this

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Agreement 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;&nbsp;6. <u>Termination.</u> This Agreement may be terminated upon thirty (30) days' written notice from one party to the other party. Notwithstanding termination of this Agreement, Franklin will continue to pay the fee as set forth in Schedule B so long as nets assets of the Accounts remain in a Fund portfolio.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7. <u>Representation</u>. The parties represent and agree that they will maintain and preserve all records as required by law to be maintained and preserved in connection with this Agreement, and will otherwise comply with all laws, rules and regulations applicable to the Services.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8. <u>Assignment.</u> This Agreement shall not be assigned by either party without the prior written consent of the other party, which consent shall not be unreasonably withheld or delayed.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9. <u>Counterparts.</u> This Agreement may be executed in counterparts, each of which will be deemed an original but all of which will together constitute one and the same instrument.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10. <u>Entire Agreement; Electronic Signatures.</u> This Agreement, together with the attached Schedules, contains the entire agreement among the parties with respect to the matters dealt with herein, and supersedes any prior or inconsistent agreements, documents, understandings or arrangements among the parties with respect to the subject matter of this Agreement. This Agreement may be executed and delivered by electronic signatures and any such signatures appearing on this Agreement are the same as handwritten signatures for the purposes of validity, enforceability and admissibility.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11. <u>Indemnification</u>. This Agreement will be subject to the indemnification provisions of the Participation Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12. <u>Trust Not a Party</u>. The parties to this Agreement acknowledge and agree that the Trust is not directly or indirectly a party to this Agreement. If, however, the Trust shall be so deemed, the parties to this Agreement acknowledge and agree that any liabilities of the Trust arising, directly or indirectly, under this Agreement will be satisfied out of the assets of the Trust and that no trustee, officer, agent or holder of shares of beneficial interest of the Trust or any Fund will be personally liable for such liabilities. No Fund of the Trust will be liable for the obligations or liabilities of any other Fund.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13. <u>Applicable Law.</u> This Agreement shall be interpreted, construed and enforced in accordance with the laws of the State of New York

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14. <u>Severability</u>. This Agreement shall be severable as it applies to each Fund portfolio, and action on any matter shall be taken separately for each Fund portfolio affected by the matter. If any portion of this Agreement shall be found to be invalid or unenforceable by a court or tribunal or regulatory agency of competent jurisdiction, the remainder shall not be affected thereby, but shall have the same force and effect as if the invalid or unenforceable portion had not been inserted.

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This Agreement is executed as of this<u> </u> day of 2026.

---

| | |
|:---|:---|
| FRANKLIN DISTRIBUTORS, LLC | FRANKLIN DISTRIBUTORS, LLC |
| By: <u>/s/ Robert Smith</u> | By: <u>/s/ Robert Smith</u> |
| Name: | Robert Smith |
| Title: | Head of Business Administration |

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---

| |
|:---|
| NEW YORK LIFE INSURANCE AND ANNUITY CORPORATION |
| By: <u>/s/ Janis Rubin</u> |
| Name: Janis Rubin |
| Title: Vice President |

---

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**Schedule A** 

**<u>Services</u>** 

**<u>Maintenance of Books and Records</u>**

• Assist as necessary to maintain book entry records on behalf of the Funds regarding issuance to, transfer
within (via net purchase orders) and redemption by the Accounts of Fund shares.

• Maintain general ledgers regarding the Accounts' holdings of Fund shares, coordinate and reconcile
information, and coordinate maintenance of ledgers by financial institutions and other contract owner service providers.

**<u>Communication with the Funds</u>**

• Serve as the designee of the Funds for receipt of purchase and redemption orders from the Account and to
transmit such orders, and payment therefore, to the Funds.

• Coordinate with the Funds' agents respecting daily valuation of the Funds' shares and the
Accounts' units.

• Purchase Orders

Determine net amount available for investment in the Funds. <br>

- Deposit receipts at the Funds' custodians (generally by wire transfer).

Notify the custodians of the estimated amount required to pay dividends or distributions. <br>

• Redemption Orders

Determine net amount required for redemptions by the Funds. <br>

- Notify the custodian and Funds of cash required to meet payments.

• Purchase and redeem shares of the Funds on behalf of the Accounts at the then-current price in accordance with
the terms of each Fund's then current prospectus.

• Assistance in enforcing procedures adopted on behalf of the Trust to reduce, discourage, or eliminate market
timing transactions in a Fund's shares in order to reduce or eliminate adverse effects on a Fund or its shareholders.

**<u>Processing Distributions from the Funds</u>**

• Process ordinary dividends and capital gains.

• Reinvest the Funds' distributions.

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**<u>Reports</u>**

• Periodic information reporting to the Funds, including, but not limited to, furnishing registration
statements, prospectuses or private offering memorandum, statements of additional information, reports, solicitations for instructions, disclosure statements, sales or promotional materials and any other filings with the Securities and Exchange
Commission with respect to the Accounts invested in the Funds, if necessary.

• Periodic information reporting about the Funds to contract owners, including necessary delivery of the
Funds' prospectus and annual and semi-annual reports.

**<u>Fund-related Contract Owner Services</u>**

• Maintain adequate fidelity bond or similar coverage for all Company officers, employees, investment advisors
and other individuals or entities controlled by the Company who deal with the money and/or securities of the Funds.

• Provide general information with respect to Fund inquiries (not including information about performance or
related to sales).

• Provide information regarding performance of the Funds.

• Oversee and assist the solicitation, counting and voting of contract owner pass-through voting interests in
the Funds pursuant to Fund proxy statements.

**<u>Other Support</u>**

• Provide other administrative support for the Funds as mutually agreed upon by the Company and the Funds or
Franklin.

• Relieve the Funds of other usual or incidental administrative services provided to individual contract owners.

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**Schedule B** 

**<u>Payments for Services</u>** 

Franklin agrees to pay the Company a fee, computed daily and paid quarterly in arrears, equal to an annual rate as set forth below, applied to the average daily net assets of the shares of the Funds held in the subaccounts of the Accounts. The payment will be computed and paid in the manner described more completely in the Agreement.

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| | | | | | |
|:---|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;**#** | **Company Name** | **Separate Account/**<br>**Registration Yes/No** | **Class/Funds of the Trust** | **Fee**<br> **Rate** | **Date of<br>beginning of<br>period for<br>computation<br>of fee** |
| &nbsp;&nbsp;&nbsp;1. | New York Life Insurance and Annuity<br>Corporation |  | Franklin Gold & Precious<br>Metals VIP Fund | [ ]% | May 1, 2026 |

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**Schedule C** 

**Addresses for Notices** 

---

| |
|:---|
| If to the Company: |
| If to Franklin:<br> Franklin Distributors, LLC<br> 100 First Stamford Place, 5<sup>th</sup> Floor<br> Stamford, CT 06902<br> Attention: Intermediary Client Onboarding<br> Email: us_ico@franklintempleton.com |
| With a copy to:<br> Franklin Templeton<br> One Franklin Parkway, Bldg. 920, 2<sup>nd</sup> Floor<br> San Mateo, California 94403<br> Attention: Office of General Counsel |

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## Ex-99.(I)(35)

Goldman Sachs Asset Management, L.P.

200 West Street

New York, NY 10282

[DATE]

New York Life Insurance and Annuity Corporation

51 Madison Ave.

New York, NY 10010

Ladies and Gentlemen:

This letter sets forth the agreement (the "Agreement") between New York Life Insurance and Annuity Corporation ("you" or the "Company") and the undersigned ("we" or "Goldman Sachs Asset Management, L.P.", or "GSAM") concerning certain administrative services to be provided by you, with respect to the Goldman Sachs Variable Insurance Trust (the "Trust").

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. <u>The Trust</u>. The Trust is a Delaware statutory trust registered with the Securities and Exchange Commission (the "SEC") under the Investment Company Act of 1940, as amended (the "Act"), as an open-end management investment company. The Trust offers shares of one or more separate series, each representing an interest in a particular investment portfolio of securities and other assets ("Portfolios"), and serves as a funding vehicle for variable annuity contracts and variable life insurance contracts. As such, the Trust sells its shares to insurance companies and their separate accounts. With respect to various provisions of the Act, the SEC requires that owners of variable annuity contracts and variable life insurance contracts offering underlying mutual funds as investment options for their separate accounts be provided with certain materials and rights similar to those afforded to mutual fund shareholders.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. <u>The Company</u>. The Company is a Delaware life insurance company. The Company issues variable annuity contracts and/or variable life insurance contracts (the "Contracts") supported by the Separate Account(s) identified on Schedule A (the "Separate Account"; if more than one, the term "Separate Account" shall apply to each Separate Account subject hereto). The Separate Account is registered with the SEC as a unit investment trust. The Company has entered into a participation agreement (the "Participation Agreement") with the Trust and Goldman Sachs & Co. LLC as the Trust's Distributor ("Distributor") with respect to the Portfolios listed on Schedule B (the "Funds"). The Participation Agreement governs the Company's purchases and redemptions of shares of the Trust for the Separate Account supporting the Company's Contracts, and related matters.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3. <u>Goldman Sachs</u> <u>& Co. LLC.</u> Goldman Sachs & Co. LLC serves as the distributor for the Trust. GSAM serves as the Trust's investment adviser. GSAM supervises and assists in the overall management of the Trust's affairs under an Investment Management Agreement with the Trust, subject to the overall authority of the Trust's Board of Trustees in accordance with

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Delaware law. Under the Investment Management Agreement, we are compensated for providing investment advisory and certain administrative services.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4. <u>Administrative Services</u>. You have agreed to assist us, as we may request from time to time, with the provision of administrative services with respect to the Trust, as they may relate to the Separate Account's purchase and redemption of shares of the Funds. It is anticipated that such services may include (but shall not be limited to) the mailing of Trust reports, notices, proxies and proxy statements and other informational materials to owners of the Contracts supported by the Separate Account; the transmission of purchase and redemption requests to the Trust's transfer agent; the maintenance of separate records for each owner of a Contract reflecting shares purchased and redeemed and share balances attributable to such Contract Owner in the form of units; the preparation of various reports for submission to the Trust's Trustees; the provision of shareholder support services with respect to the Funds serving as funding vehicles for the Company's Contracts; and the services listed on Schedule C.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5. <u>Payment for Administrative Services</u>. In consideration of the services to be provided by you, we shall pay you on a quarterly basis, from our assets, including GSAM's bona fide profits as investment adviser to the Trust, amounts equal to those described in Schedule D. For purposes of computing the payment to the Company contemplated under this Section 5 for each Fund, the average aggregate net asset value of the relevant shares of the Fund held by the Separate Account over a one-month period shall be computed by totaling the Separate Account's aggregate investment (share net asset value multiplied by total number of the relevant shares held by the Separate Account) in each Fund on each calendar day during the month, and dividing by the total number of calendar days during such month. The payment contemplated by this Section 5 shall be calculated by GSAM at the end of each calendar quarter and will be paid to the Company within sixty (60) business days thereafter.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6. <u>Nature of Payments</u>. The parties to this Agreement recognize and agree that GSAM's payments to the Company relate to administrative services only and do not constitute payment in any manner for investment advisory services or for costs of distribution of the Contracts or of Trust shares and are not otherwise related to investment advisory or distribution services or expenses. The Company represents that these payments are not for or related to administrative services which the Company is required to provide to owners of the Contracts by law or pursuant to the terms of the Contracts. The Parties acknowledge that there are substantial savings in administrative expenses to the Trust by virtue of having a Separate Account as the sole shareholder in a Fund rather than multiple accounts reflecting the Separate Account's investment. You represent that:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;● you may legally receive the payments contemplated by this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;● the administrative services provided under this Agreement are not services that the Trust has agreed to
perform, provide or pay for under the Participation Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;● to the extent required by applicable law, you have taken payments received from GSAM under this Agreement into
account in making any determinations pursuant to Section 26(f)(2)(A) and 26(f)(3) of the Act.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7. <u>Term</u>. Except as otherwise provided herein, this Agreement shall remain in full force and effect for an initial term of one year from the date hereof, and shall automatically renew for successive one-year periods unless either party notifies the other upon sixty (60) days' written notice of its intent not to continue this Agreement. This Agreement shall terminate automatically with respect to a Fund upon (i) the redemption of the Separate Account's investment in the Fund, or (ii) upon termination of the Trust's obligation to sell shares of a Fund under the Participation Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8. <u>Anti-Bribery.</u>

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) The Company warrants that in any way related to this Agreement, it and its affiliates, agents, and employees will at all times comply with all applicable laws, regulations, including self-regulatory organization ("SRO") regulations, and administrative requirements, including those pertaining to tax reporting and tax compliance, tax evasion or the facilitation of tax evasion, and those dealing with bribery, corruption, improper or illegal payments, gifts, gratuities or money laundering, and shall take no action which would subject Goldman Sachs to penalties under applicable laws, regulations and administrative requirements.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) The Company represents that, in connection with this Agreement, it has not and warrants that it will not (i) make (or cause to be made), offer, promise, or authorize any payments or gifts or anything of value, directly or indirectly, to any Public Official (as defined below) or to any other person to secure an improper advantage, improperly obtain or retain business or an improper advantage in the conduct of business, or otherwise to induce any person to perform their duties improperly, or (ii) pay, offer, or agree to pay (or cause to be paid, offered or agreed to be paid) any political contributions or donations. In performing this Agreement, the Company agrees to not knowingly authorize, make, permit to be made, or allow any agents, subcontractors, vendors, consultants, or other third parties ("Third Parties") to make any payments, which, if made by the Company, would violate this Agreement. As used in this Agreement, "Public Official" means any person holding an elected or appointed office and any other officer or employee of a government or a department, agency, instrumentality or part thereof (including a state-owned or -controlled enterprise or a joint venture/partnership with a government entity), any officer or employee of a public international organization or a political party, and any candidate for political office; or any person exercising a public function or acting in an official capacity for or on behalf of any of the foregoing.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) The Company represents that, in connection with this Agreement, it has not and warrants that it will not receive or solicit bribes, kickbacks, or other improper benefits related to its services to Goldman Sachs.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) The Company hereby acknowledges that it has received and reviewed a copy of the Goldman Sachs Anti-Bribery and Anti-Corruption Compliance Statement (available at https://www.goldmansachs.com/investor-relations/corporate-governance/corporate-governance-documents/anti-bribery-program.pdf , which may be amended from time to time), setting forth Goldman Sachs' anti-corruption policy with respect to its business activities and relations with clients and prospective clients, and warrants and agrees that in connection with this Agreement, the Company will act on a consistent basis with such Statement and in no event shall

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take any action that would cause or reasonably be expected to cause Goldman Sachs to be in violation of such Statement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) To the extent the Company retains Third Parties to perform material administrative services directly on behalf of Goldman Sachs under this Agreement, the Company shall remain fully responsible for the performance of such Third Party under this Agreement and shall maintain policies and procedures reasonably designed to promote suchThird Party's compliance with applicable anti-corruption laws in connection with the services performed under this Agreement. The Company may engage vendors and other third parties in the ordinary course of its business (including, without limitation, printing, mailing, technology, custodial, proxy, and administrative support providers) without prior written approval of Goldman Sachs, provided that the Company remains responsible for their compliance with applicable laws in connection with this Agreement. Goldman Sachs' prior written consent shall be required only where the Company seeks to delegate primary responsibility for performing material administrative services under this Agreement to a subcontractor.

The Company shall ensure that its contracts with Third Parties approved by Goldman Sachs include clauses (a) – (c) above. The Company also agrees to comply with any other reasonable requirements set forth by Goldman Sachs as part of its approval of a Third Party related to the Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) The Company agrees to give prompt written notice to Goldman Sachs in the event that, at any time during the term of this Agreement Company either becomes aware, or should have known, that any representations set forth in this Section 8 are no longer accurate or the Company has failed to comply with or has breached any of its warranties hereunder. In the event of such notice, or if Goldman Sachs otherwise verifies or determines reasonably and in good faith that the representations are no longer true and accurate or that the Company has failed to comply with or has breached any of its warranties hereunder, then Goldman Sachs shall have the unilateral right to terminate this Agreement; provided, however, that Goldman Sachs may provide the Company with the opportunity to cure such failure or breach in accordance with the following procedures: Goldman Sachs shall provide the Company with written notice describing such failure or breach with a request to cure such failure or breach. The Company shall then have thirty (30) days from receipt of such notice to cure such failure or breach, provided that no cure period shall apply in the case of fraud, willful misconduct, or violations of applicable anti-corruption laws. If the Company fails to cure such failure or breach within the applicable cure period (or if no cure period applies), Goldman Sachs may terminate this Agreement immediately upon written notice. In such event or upon Goldman Sachs' determination to terminate without a cure period, the Company shall not be entitled to receive any compensation from the time of such failure or breach, including for services previously rendered to the extent that those services are related to the failure or breach.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g) The provisions of this Section 8 shall survive the expiry or earlier termination of this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9. <u>Representations and Warranties</u>. The Company represents and warrants that:

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&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 Delaware insurance law;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) its 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; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) it will keep confidential any information acquired in connection with the matters contemplated by this
Agreement regarding the business and affairs of the Trust, GSAM and their affiliates.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10. <u>Interpretation</u>. This Agreement shall be construed 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;&nbsp;&nbsp;&nbsp;&nbsp;(a) This Agreement shall be subject to the provisions of the Act, and the rules, regulations and rulings
thereunder, including such exemptions from that statute, rules and regulations as the SEC may grant, and the terms herein shall be limited, interpreted and construed in accordance therewith.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) The captions in this Agreement are included for convenience of reference and in no way define or delineate
any of the provisions herein or otherwise affect their construction or effect.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11. <u>Amendment</u>. This Agreement may be amended only upon mutual agreement of the parties hereto in writing. Any notice to be provided pursuant to this Agreement is to be made in writing and shall be given:

If to GSAM:

Marci Green

Managing Director

Goldman, Sachs Asset Management, L.P.

200 West Street

New York, NY 10282

If to the Company:

Tom Rhee

Corporate Vice President

New York Life Insurance and Annuity Corporation

51 Madison Ave.

New York, NY 10010

or at such other address as such party may from time to time specify in writing to the other party. Each such notice to a party shall be sent by registered or certified United States mail with return

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receipt requested or by overnight delivery with a nationally recognized courier, and shall be effective upon receipt.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12. <u>Counterparts</u>. This Agreement may be executed in counterparts, each of which shall be deemed an original but all of which shall together constitute one and the same instrument.

If this Agreement is consistent with your understanding of the matters we discussed concerning your administrative services, kindly sign below and return a signed copy to us.

---

| |
|:---|
| Very truly yours, |
| Goldman Sachs Asset Management, L.P. |
| By: |
| Name: |
| Title: |

---

---

| |
|:---|
| Acknowledged and Agreed to: |
| [New York Life Insurance Company] |
| By: |
| Name: |
| Title: |

---

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**SCHEDULE A** 

**Separate Accounts** 

All current and future Separate Accounts of the Company available for sale through the Contracts.

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**SCHEDULE B** 

**Funds** 

Goldman Sachs International Equity Insights Fund, a series of Goldman Sachs Variable Insurance Trust

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**SCHEDULE C** 

**Services** 

**Maintenance of books and records** 

- Record issuance of shares

- Record transfers (via net purchase orders)

- Reconciliation and balancing of the Separate Account at the Trust level in the general ledger, at various banks and within systems interface to the summary of each Contract Owner's position

**Fund-related Contract Owner services** 

- Printing and mailing costs associated with dissemination of Trust prospectus to existing Contract Owners

- Telephonic support for Contract Owners with respect to inquiries about the Trust (but not inquiries about the Contracts) unrelated to the sales of Contracts or distribution of Trust shares

Trust proxies (solicitation of voting instructions and preparation of materials, inclusive of printing, distribution, tabulation, and reporting) <br>

- Printing and mailing costs associated with dissemination of Trust reports and notices to existing Contract Owners

**Other administrative support** 

- Sub-accounting services

- Providing other administrative support to the Trust as mutually agreed between insurer and the Trust

- Relieving the Trust of the burden of providing other usual or incidental administrative services provided to individual shareholders

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**SCHEDULE D** 

**Fees** 

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| | |
|:---|:---|
| **Share Class of the Trust** | **Amounts per annum of the average**<br> **aggregate net asset value of shares of the**<br> **Trust held by the Separate Account under**<br> **the Participation Agreement** |
| &nbsp;&nbsp;&nbsp; Goldman Sachs International Equity Insights Fund, a series of Goldman Sachs Variable Insurance Trust |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; - Service and Institutional Class | [] basis points ([]%) |

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## Ex-99.(J)(1)

**NEW YORK LIFE INSURANCE AND ANNUITY CORPORATION**

**POWERS OF ATTORNEY FOR A LIMITED PURPOSE**

KNOW ALL PERSONS BY THESE PRESENTS, that the undersigned constitutes and appoints each of Michael K. McDonnell, Janis C. Rubin, Michael A. Gamble and Charles A. Whites, Jr. as his true and lawful attorney-in-fact and agent, each with full power of substitution and resubstitution for him in his name, place and stead, to sign any and all registration statements or other filings made with the Securities and Exchange Commission or any state regulatory agency or authority applicable to New York Life Insurance and Annuity Corporation Corporate Sponsored Variable Universal Life Separate Account – I (including, File Numbers 333-07617, 333-48300, 333-161336, and 333-232790) and any amendments or supplements thereto, and withdrawals thereof, and to file the same, with all exhibits thereto and other documents in connection therewith, with the Securities and Exchange Commission or any state regulatory agency or authority granting unto said attorney-in-fact and agent full power and authority to do and perform each and every act and thing requisite and necessary to be done, as fully to all intents and purposes as he might or could do in person in his capacity as a Director or Officer of New York Life Insurance and Annuity Corporation, hereby ratifying and confirming all that said attorney-in-fact and agent, or his or her substitute or substitutes, may lawfully do or cause to be done by virtue hereof.

/s/ Erik A. Anderson<br>Erik A. Anderson<br>

April 13, 2026

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**NEW YORK LIFE INSURANCE AND ANNUITY CORPORATION**

**POWERS OF ATTORNEY FOR A LIMITED PURPOSE**

KNOW ALL PERSONS BY THESE PRESENTS, that the undersigned constitutes and appoints each of Michael K. McDonnell, Janis C. Rubin, Michael A. Gamble and Charles A. Whites, Jr. as her true and lawful attorney-in-fact and agent, each with full power of substitution and resubstitution for her in her name, place and stead, to sign any and all registration statements or other filings made with the Securities and Exchange Commission or any state regulatory agency or authority applicable to New York Life Insurance and Annuity Corporation Corporate Sponsored Variable Universal Life Separate Account – I (including, File Numbers 333-07617, 333-48300, 333-161336, and 333-232790) and any amendments or supplements thereto, and withdrawals thereof, and to file the same, with all exhibits thereto and other documents in connection therewith, with the Securities and Exchange Commission or any state regulatory agency or authority granting unto said attorney-in-fact and agent full power and authority to do and perform each and every act and thing requisite and necessary to be done, as fully to all intents and purposes as she might or could do in person in her capacity as a Director or Officer of New York Life Insurance and Annuity Corporation, hereby ratifying and confirming all that said attorney-in-fact and agent, or his or her substitute or substitutes, may lawfully do or cause to be done by virtue hereof.

/s/ Angela Chen<br>Angela Chen<br>

April 13, 2026

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**NEW YORK LIFE INSURANCE AND ANNUITY CORPORATION**

**POWERS OF ATTORNEY FOR A LIMITED PURPOSE**

KNOW ALL PERSONS BY THESE PRESENTS, that the undersigned constitutes and appoints each of Michael K. McDonnell, Janis C. Rubin, Michael A. Gamble and Charles A. Whites, Jr. as his true and lawful attorney-in-fact and agent, each with full power of substitution and resubstitution for him in his name, place and stead, to sign any and all registration statements or other filings made with the Securities and Exchange Commission or any state regulatory agency or authority applicable to New York Life Insurance and Annuity Corporation Corporate Sponsored Variable Universal Life Separate Account – I (including, File Numbers 333-07617, 333-48300, 333-161336, and 333-232790) and any amendments or supplements thereto, and withdrawals thereof, and to file the same, with all exhibits thereto and other documents in connection therewith, with the Securities and Exchange Commission or any state regulatory agency or authority granting unto said attorney-in-fact and agent full power and authority to do and perform each and every act and thing requisite and necessary to be done, as fully to all intents and purposes as he might or could do in person in his capacity as a Director or Officer of New York Life Insurance and Annuity Corporation, hereby ratifying and confirming all that said attorney-in-fact and agent, or his or her substitute or substitutes, may lawfully do or cause to be done by virtue hereof.

/s/ Craig L. DeSanto<br>Craig L. DeSanto<br>

April 13, 2026

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**NEW YORK LIFE INSURANCE AND ANNUITY CORPORATION**

**POWERS OF ATTORNEY FOR A LIMITED PURPOSE**

KNOW ALL PERSONS BY THESE PRESENTS, that the undersigned constitutes and appoints each of Michael K. McDonnell, Janis C. Rubin, Michael A. Gamble and Charles A. Whites, Jr. as his true and lawful attorney-in-fact and agent, each with full power of substitution and resubstitution for him in his name, place and stead, to sign any and all registration statements or other filings made with the Securities and Exchange Commission or any state regulatory agency or authority applicable to New York Life Insurance and Annuity Corporation Corporate Sponsored Variable Universal Life Separate Account – I (including, File Numbers 333-07617, 333-48300, 333-161336, and 333-232790) and any amendments or supplements thereto, and withdrawals thereof, and to file the same, with all exhibits thereto and other documents in connection therewith, with the Securities and Exchange Commission or any state regulatory agency or authority granting unto said attorney-in-fact and agent full power and authority to do and perform each and every act and thing requisite and necessary to be done, as fully to all intents and purposes as he might or could do in person in his capacity as a Director or Officer of New York Life Insurance and Annuity Corporation, hereby ratifying and confirming all that said attorney-in-fact and agent, or his or her substitute or substitutes, may lawfully do or cause to be done by virtue hereof.

/s/ Eric A. Feldstein<br>Eric A. Feldstein<br>

April 13, 2026

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**NEW YORK LIFE INSURANCE AND ANNUITY CORPORATION**

**POWERS OF ATTORNEY FOR A LIMITED PURPOSE**

KNOW ALL PERSONS BY THESE PRESENTS, that the undersigned constitutes and appoints each of Michael K. McDonnell, Janis C. Rubin, Michael A. Gamble and Charles A. Whites, Jr. as his true and lawful attorney-in-fact and agent, each with full power of substitution and resubstitution for him in his name, place and stead, to sign any and all registration statements or other filings made with the Securities and Exchange Commission or any state regulatory agency or authority applicable to New York Life Insurance and Annuity Corporation Corporate Sponsored Variable Universal Life Separate Account – I (including, File Numbers 333-07617, 333-48300, 333-161336, and 333-232790) and any amendments or supplements thereto, and withdrawals thereof, and to file the same, with all exhibits thereto and other documents in connection therewith, with the Securities and Exchange Commission or any state regulatory agency or authority granting unto said attorney-in-fact and agent full power and authority to do and perform each and every act and thing requisite and necessary to be done, as fully to all intents and purposes as he might or could do in person in his capacity as a Director or Officer of New York Life Insurance and Annuity Corporation, hereby ratifying and confirming all that said attorney-in-fact and agent, or his or her substitute or substitutes, may lawfully do or cause to be done by virtue hereof.

/s/ Thomas A. Hendry<br>Thomas A. Hendry<br>

April 13, 2026

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**NEW YORK LIFE INSURANCE AND ANNUITY CORPORATION**

**POWERS OF ATTORNEY FOR A LIMITED PURPOSE**

KNOW ALL PERSONS BY THESE PRESENTS, that the undersigned constitutes and appoints each of Michael K. McDonnell, Janis C. Rubin, Michael A. Gamble and Charles A. Whites, Jr. as her true and lawful attorney-in-fact and agent, each with full power of substitution and resubstitution for her in her name, place and stead, to sign any and all registration statements or other filings made with the Securities and Exchange Commission or any state regulatory agency or authority applicable to New York Life Insurance and Annuity Corporation Corporate Sponsored Variable Universal Life Separate Account – I (including, File Numbers 333-07617, 333-48300, 333-161336, and 333-232790) and any amendments or supplements thereto, and withdrawals thereof, and to file the same, with all exhibits thereto and other documents in connection therewith, with the Securities and Exchange Commission or any state regulatory agency or authority granting unto said attorney-in-fact and agent full power and authority to do and perform each and every act and thing requisite and necessary to be done, as fully to all intents and purposes as she might or could do in person in her capacity as a Director or Officer of New York Life Insurance and Annuity Corporation, hereby ratifying and confirming all that said attorney-in-fact and agent, or his or her substitute or substitutes, may lawfully do or cause to be done by virtue hereof.

/s/ Jodi Kravitz<br>Jodi Kravitz<br>

April 13, 2026

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**NEW YORK LIFE INSURANCE AND ANNUITY CORPORATION**

**POWERS OF ATTORNEY FOR A LIMITED PURPOSE**

KNOW ALL PERSONS BY THESE PRESENTS, that the undersigned constitutes and appoints each of Scott L. Berlin, Janis C. Rubin, Michael A. Gamble and Charles A. Whites, Jr. as his true and lawful attorney-in-fact and agent, each with full power of substitution and resubstitution for him in his name, place and stead, to sign any and all registration statements or other filings made with the Securities and Exchange Commission or any state regulatory agency or authority applicable to New York Life Insurance and Annuity Corporation Corporate Sponsored Variable Universal Life Separate Account – I (including, File Numbers 333-07617, 333-48300, 333-161336, and 333-232790) and any amendments or supplements thereto, and withdrawals thereof, and to file the same, with all exhibits thereto and other documents in connection therewith, with the Securities and Exchange Commission or any state regulatory agency or authority granting unto said attorney-in-fact and agent full power and authority to do and perform each and every act and thing requisite and necessary to be done, as fully to all intents and purposes as he might or could do in person in his capacity as a Director or Officer of New York Life Insurance and Annuity Corporation, hereby ratifying and confirming all that said attorney-in-fact and agent, or his or her substitute or substitutes, may lawfully do or cause to be done by virtue hereof.

/s/ Michael K. McDonnell<br>Michael K. McDonnell<br>

April 13, 2026

------

**NEW YORK LIFE INSURANCE AND ANNUITY CORPORATION**

**POWERS OF ATTORNEY FOR A LIMITED PURPOSE**

KNOW ALL PERSONS BY THESE PRESENTS, that the undersigned constitutes and appoints each of Michael K. McDonnell, Janis C. Rubin, Michael A. Gamble and Charles A. Whites, Jr. as her true and lawful attorney-in-fact and agent, each with full power of substitution and resubstitution for her in her name, place and stead, to sign any and all registration statements or other filings made with the Securities and Exchange Commission or any state regulatory agency or authority applicable to New York Life Insurance and Annuity Corporation Corporate Sponsored Variable Universal Life Separate Account – I (including, File Numbers 333-07617, 333-48300, 333-161336, and 333-232790) and any amendments or supplements thereto, and withdrawals thereof, and to file the same, with all exhibits thereto and other documents in connection therewith, with the Securities and Exchange Commission or any state regulatory agency or authority granting unto said attorney-in-fact and agent full power and authority to do and perform each and every act and thing requisite and necessary to be done, as fully to all intents and purposes as she might or could do in person in her capacity as a Director or Officer of New York Life Insurance and Annuity Corporation, hereby ratifying and confirming all that said attorney-in-fact and agent, or his or her substitute or substitutes, may lawfully do or cause to be done by virtue hereof.

/s/ Amy Miller<br>Amy Miller<br>

April 13, 2026

------

**NEW YORK LIFE INSURANCE AND ANNUITY CORPORATION**

**POWERS OF ATTORNEY FOR A LIMITED PURPOSE**

KNOW ALL PERSONS BY THESE PRESENTS, that the undersigned constitutes and appoints each of Michael K. McDonnell, Janis C. Rubin, Michael A. Gamble and Charles A. Whites, Jr. as his true and lawful attorney-in-fact and agent, each with full power of substitution and resubstitution for him in his name, place and stead, to sign any and all registration statements or other filings made with the Securities and Exchange Commission or any state regulatory agency or authority applicable to New York Life Insurance and Annuity Corporation Corporate Sponsored Variable Universal Life Separate Account – I (including, File Numbers 333-07617, 333-48300, 333-161336, and 333-232790) and any amendments or supplements thereto, and withdrawals thereof, and to file the same, with all exhibits thereto and other documents in connection therewith, with the Securities and Exchange Commission or any state regulatory agency or authority granting unto said attorney-in-fact and agent full power and authority to do and perform each and every act and thing requisite and necessary to be done, as fully to all intents and purposes as he might or could do in person in his capacity as a Director or Officer of New York Life Insurance and Annuity Corporation, hereby ratifying and confirming all that said attorney-in-fact and agent, or his or her substitute or substitutes, may lawfully do or cause to be done by virtue hereof.

/s/ Craig A. Sabal<br>Craig A. Sabal<br>

April 13, 2026

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## Ex-99.(K)(1)

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

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| | |
|:---|:---|
| ![](g449813imge5c29c2e1.jpg) | &nbsp;&nbsp; **New York Life Insurance Company**<br> 51 Madison Avenue<br> New York, NY 10010<br>|
| ![](g449813imge5c29c2e1.jpg) | &nbsp;&nbsp; **Charles A. Whites, Jr.**<br> Vice President & Associate General Counsel<br>|

---

VIA EDGAR

April 13, 2026

U.S. Securities and Exchange Commission <br>100 F Street, N.E. <br>Washington, D.C. 20549

RE:

NEW YORK LIFE INSURANCE AND ANNUITY CORPORATION <br>CORPORATE SPONSORED VARIABLE UNIVERSAL LIFE <br>SEPARATE ACCOUNT–I <br>INVESTMENT COMPANY ACT FILE NUMBER: 811-07697 <br><u>SECURITIES ACT FILE NUMBER:</u> <u>333-4830</u><u>0</u>

Ladies and Gentlemen:

This opinion is furnished in connection with the filing by New York Life Insurance and Annuity Corporation ("NYLIAC") of Post-Effective Amendment No. 46 to the registration statement on Form N-6 ("Registration Statement") under the Securities Act of 1933, as amended, of NYLIAC Corporate Sponsored Variable Universal Life Separate Account–I ("Separate Account–I"). Separate Account-I receives and invests premiums allocated to it under a variable universal life insurance policy offered to corporations and individuals (the "Policy"). The Policy is offered in the manner described in the Registration Statement.

NYLIAC is a wholly-owned subsidiary of New York Life Insurance Company ("NYL"). My professional responsibilities at NYL include the provision of legal advice to NYLIAC. Also, I am a Vice President and Associate General Counsel of NYLIAC.

In connection with this opinion, I have consulted with relevant individuals under my supervision and have made such examination of the law and have examined such corporate records and such other documents as I consider appropriate as a basis for the opinions hereinafter expressed. On the basis of such consultation and examination, it is my opinion that:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. NYLIAC is a corporation duly organized and validly existing under the laws of the State of Delaware.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. Separate Account-I is a separate account established and maintained by NYLIAC pursuant to Section 2932 of the Delaware Insurance Code, under which the income, gains and losses, realized or unrealized, from assets allocated to Separate Account-I shall be credited to or charged against Separate Account-I, without regard to other income, gains or losses of NYLIAC.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3. The Policy has been duly authorized by NYLIAC and, when sold in jurisdictions authorizing such sales, in accordance with the Registration Statement, will constitute a validly issued and binding obligation of NYLIAC in accordance with its terms.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4. Each owner of the Policy will not be subject to any deductions, charges, or assessments imposed by NYLIAC, other than those provided in the Policy.

I consent to the use of this opinion as an exhibit to the Registration Statement:

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| |
|:---|
| Very truly yours, |
| /s/ Charles A. Whites, Jr.<br>Charles A. Whites, Jr.<br> Vice President & Associate General Counsel<br>|

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## Ex-99.(N)(1)

**CONSENT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM**

We hereby consent to the incorporation by reference in this Post-Effective Amendment No. 46 to the Registration Statement on Form N-6 (No. 333-48300) (the "Registration Statement") of our report dated February 27, 2026 relating to the statutory financial statements of New York Life Insurance and Annuity Corporation and consent to the incorporation by reference in the Registration Statement of our report dated April 7, 2026 relating to the financial statements of each of the investment divisions of NYLIAC Corporate Sponsored Variable Universal Life Separate Account-I indicated in our report. We also consent to the references to us under the headings "Financial Statements" in such Registration Statement.

/s/ PricewaterhouseCoopers LLP<br>PricewaterhouseCoopers LLP<br> New York, New York<br>

April 13, 2026

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