Document:

Exhibit 10.7

 

INDEMNIFICATION AGREEMENT

 

THIS INDEMNIFICATION AGREEMENT (this “Agreement”) is entered into as of [    ], 2011, by and among RLJ Lodging Trust, a Maryland real estate investment trust (the “Company” or the “Indemnitor”) and [                                    ] (the “Indemnitee”).

 

WHEREAS, the Indemnitee is an officer [or][and] a member of the Board of Trustees of the Company and in such [capacity][capacities] is performing a valuable service for the Company;

 

WHEREAS, Maryland law permits the Company to enter into contracts with its officers or members of its Board of Trustees with respect to indemnification of, and advancement of expenses to, such persons;

 

WHEREAS, the Articles of Amendment and Restatement of the Declaration of Trust of the Company (the “Declaration of Trust”) provide that the Company shall indemnify and advance expenses to its trustees and officers to the maximum extent permitted by Maryland law in effect from time to time;

 

WHEREAS, the Amended and Restated Bylaws of the Company (the “Bylaws”) provide that each trustee and officer of the Company shall be indemnified by the Company to the maximum extent permitted by Maryland law in effect from time to time and shall be entitled to advancement of expenses consistent with Maryland law; and

 

WHEREAS, to induce the Indemnitee to provide services to the Company as an officer [or][and] a member of the Board of Trustees, and to provide the Indemnitee with specific contractual assurance that indemnification will be available to the Indemnitee regardless of, among other things, any amendment to or revocation of the Declaration of Trust or the Bylaws, or any acquisition transaction relating to the Company, the Indemnitor desires to provide the Indemnitee with protection against personal liability as set forth herein.

 

NOW, THEREFORE, in consideration of the premises and the covenants contained herein, the Indemnitor and the Indemnitee hereby agree as follows:

 

1.                                       DEFINITIONS

 

For purposes of this Agreement:

 

(A)                              “Change in Control” shall have the definition set forth in the RLJ Lodging Trust 2011 Equity Incentive Plan.

 

 

(B)                                “Corporate Status” describes the status of a person who is or was a trustee or officer of the Company or is or was serving at the request of the Company as a director, officer, partner (limited or general), member, employee or agent of any other foreign or domestic corporation, partnership, joint venture, limited liability company, trust, other enterprise (whether conducted for profit or not for profit) or employee benefit plan. The Company shall be deemed to have requested the Indemnitee to serve an employee benefit plan where the performance of the Indemnitee’s duties to the Company also imposes or imposed duties on, or otherwise involves or involved services by, the Indemnitee to the plan or participants or beneficiaries of the plan.

 

(C)                                “Expenses” shall include all attorneys’ and paralegals’ fees, retainers, court costs, transcript costs, fees of experts, witness fees, travel expenses, duplicating costs, printing and binding costs, telephone charges, postage, delivery service fees, and all other disbursements or expenses of the types customarily incurred in connection with prosecuting, defending, preparing to prosecute or defend, investigating, or being or preparing to be a witness in a Proceeding.

 

(D)                               “Proceeding” includes any action, suit, arbitration, alternate dispute resolution mechanism, investigation (including any formal or informal internal investigation to which the Indemnitee is made a party by reason of the Corporate Status of the Indemnitee), administrative hearing, or any other proceeding, including appeals therefrom, whether civil, criminal, administrative, or investigative, except one initiated by the Indemnitee pursuant to paragraph 8 of this Agreement to enforce such Indemnitee’s rights under this Agreement.

 

(E)                                 “Special Legal Counsel” means a law firm, or a member of a law firm, that is experienced in matters of corporate law and neither presently is, or in the past two years has been, retained to represent (i) the Indemnitor or the Indemnitee in any matter material to either such party, or (ii) any other party to the Proceeding giving rise to a claim for indemnification hereunder.

 

2.                                       INDEMNIFICATION

 

The Indemnitee shall be entitled to the rights of indemnification provided in this paragraph 2 and under applicable law, the Declaration of Trust, the Bylaws, any other agreement, a vote of shareholders or resolution of the Board of Trustees or otherwise if, by reason of such Indemnitee’s Corporate Status, such Indemnitee is, or is threatened to be made, a party to any threatened, pending, or contemplated Proceeding, including a Proceeding by or in the right of the Company.  Unless prohibited by paragraph 13 hereof and subject to the other provisions of this Agreement, the Indemnitee shall be indemnified hereunder, to the maximum extent permitted by Maryland law in effect from time to time, against judgments, penalties, fines and settlements and reasonable Expenses actually incurred by or on behalf of such Indemnitee in connection with such Proceeding or any claim, issue or matter therein; provided, however, that if such Proceeding 

 

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was initiated by or in the right of the Company, indemnification may not be made in respect of such Proceeding if the Indemnitee shall have been finally adjudged to be liable to the Company. For purposes of this paragraph 2, excise taxes assessed on the Indemnitee with respect to an employee benefit plan pursuant to applicable law shall be deemed fines.

 

3.                                       INDEMNIFICATION FOR EXPENSES IN CERTAIN CIRCUMSTANCES

 

(A)                              Without limiting the effect of any other provision of this Agreement (including the Indemnitee’s rights to indemnification under paragraph 2 and advancement of expenses under paragraph 4), without regard to whether the Indemnitee is entitled to indemnification under paragraph 2 and without regard to the provisions of paragraph 6 hereof, to the extent that the Indemnitee is successful, on the merits or otherwise, in any Proceeding to which the Indemnitee is a party by reason of such Indemnitee’s Corporate Status, such Indemnitee shall be indemnified against all reasonable Expenses actually incurred by or on behalf of such Indemnitee in connection therewith. (1)

 

(B)                            If the Indemnitee is not wholly successful in such Proceeding but is successful, on the merits or otherwise, as to one or more but less than all claims, issues, or matters in such Proceeding, the Indemnitor shall indemnify the Indemnitee against all reasonable Expenses actually incurred by or on behalf of such Indemnitee in connection with each successfully resolved claim, issue or matter.

 

(C)                                For purposes of this paragraph 3 and without limitation, the termination of any claim, issue or matter in such Proceeding by dismissal, with or without prejudice, shall be deemed to be a successful result as to such claim, issue or matter.

 

4.                                       ADVANCEMENT OF EXPENSES

 

Notwithstanding anything in this Agreement to the contrary, but subject to paragraph 13 hereof, if the Indemnitee is or was or becomes a party to or is otherwise involved in any Proceeding (including as a witness), or is or was threatened to be made a party to or a participant (including as a witness) in any such Proceeding, by reason of the Indemnitee’s Corporate Status, or by reason of (or arising in part out of) any actual or alleged event or occurrence related to the Indemnitee’s Corporate Status, or by reason of any actual or alleged act or omission on the part of the Indemnitee taken or omitted in or relating to the Indemnitee’s Corporate Status, then the Indemnitor shall advance all reasonable Expenses incurred by the Indemnitee in connection with any such Proceeding within twenty (20) days after the receipt by the Indemnitor of a statement 

 

(1)                                  Note: paragraph 3(a) recites the statutory requirement to indemnify for expenses in a successful proceeding, unless limited by the Company’s declaration of trust.  Paragraph 2 provides for mandatory indemnification, including for expenses, to the maximum extent provided by Maryland law and the declaration of trust and by-laws of the Company.

 

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from the Indemnitee requesting such advance from time to time, whether prior to or after final disposition of such Proceeding; provided that, such statement shall reasonably evidence the Expenses incurred or to be incurred by the Indemnitee and shall include or be preceded or accompanied by (i) a written affirmation by the Indemnitee of the Indemnitee’s good faith belief that the standard of conduct necessary for indemnification by the Indemnitor as authorized by this Agreement has been met and (ii) a written undertaking by or on behalf of the Indemnitee to repay the amounts advanced if it should ultimately be determined that the standard of conduct has not been met.  The undertaking required by clause (ii) of the immediately preceding sentence shall be an unlimited general obligation of the Indemnitee but need not be secured and may be accepted without reference to financial ability to make the repayment.

 

5.                                       WITNESS EXPENSES

 

Notwithstanding any other provision of this Agreement, to the extent that the Indemnitee is, by reason of such Indemnitee’s Corporate Status, a witness for any reason in any Proceeding to which such Indemnitee is not a named defendant or respondent, such Indemnitee shall be indemnified by the Indemnitor against all Expenses actually incurred by or on behalf of such Indemnitee in connection therewith.

 

6.                                       DETERMINATION OF ENTITLEMENT TO AND AUTHORIZATION OF INDEMNIFICATION

 

(A)                              To obtain indemnification under this Agreement, the Indemnitee shall submit to the Indemnitor a written request, including therewith such documentation and information reasonably necessary to determine whether and to what extent the Indemnitee is entitled to indemnification.

 

(B)                                Indemnification under this Agreement may not be made unless authorized for a specific Proceeding after a determination has been made in accordance with this paragraph 6(B) that indemnification of the Indemnitee is permissible in the circumstances because the Indemnitee has met the following standard of conduct: the Indemnitor shall indemnify the Indemnitee in accordance with the provisions of paragraph 2 hereof, unless  it is established that: (a) the act or omission of the Indemnitee was material to the matter giving rise to the Proceeding and (x) was committed in bad faith or (y) was the result of active and deliberate dishonesty; (b) the Indemnitee actually received an improper personal benefit in money, property or services; or (c) in the case of any criminal proceeding, the Indemnitee had reasonable cause to believe that the act or omission was unlawful.  Upon receipt by the Indemnitor of the Indemnitee’s written request for indemnification pursuant to paragraph 6(A), a determination as to whether the applicable standard of conduct has been met shall be made within the period specified in paragraph 6(E):  (i) if a Change in Control shall have occurred, by Special Legal Counsel in a written opinion to the Board of Trustees, a copy of which shall be delivered to the Indemnitee, with Special Legal Counsel selected by the Indemnitee (the 

 

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Indemnitee shall give prompt written notice to the Indemnitor advising the Indemnitor of the identity of the Special Legal Counsel so selected); or (ii) if a Change in Control shall not have occurred, (A) by the Board of Trustees by a majority vote of a quorum consisting of trustees not, at the time, parties to the Proceeding, or, if such quorum cannot be obtained, then by a majority vote of a committee of the Board of Trustees consisting solely of two or more trustees not, at the time, parties to such Proceeding and who were duly designated to act in the matter by a majority vote of the full Board of Trustees in which the designated trustees who are parties may participate, (B) if the requisite quorum of the full Board of Trustees cannot be obtained therefor and the committee cannot be established (or, even if such quorum is obtainable or such committee can be established, if such quorum or committee so directs), by Special Legal Counsel in a written opinion to the Board of Trustees, a copy of which shall be delivered to Indemnitee, with Special Legal Counsel selected by the Board of Trustees or a committee of the Board of Trustees by vote as set forth in clause (ii)(A) of this paragraph 6(B) (or, if the requisite quorum of the full Board of Trustees cannot be obtained therefor and the committee cannot be established, by a majority of the full Board of Trustees in which trustees who are parties to the Proceeding may participate) (if the Indemnitor selects Special Legal Counsel to make the determination under this clause (ii), the Indemnitor shall give prompt written notice to the Indemnitee advising him or her of the identity of the Special Legal Counsel so selected) or (C) if so directed by a majority of the members of the Board of Trustees, by the shareholders of the Company.  If it is so determined that the Indemnitee is entitled to indemnification, payment to the Indemnitee shall be made within ten (10) days after such determination. Authorization of indemnification and determination as to reasonableness of Expenses shall be made in the same manner as the determination that indemnification is permissible. However, if the determination that indemnification is permissible is made by Special Legal Counsel under clause (ii)(B) above, authorization of indemnification and determination as to reasonableness of Expenses shall be made in the manner specified under clause (ii)(B) above for the selection of such Special Legal Counsel.

 

(C)                                The Indemnitee shall cooperate with the person or entity making such determination with respect to the Indemnitee’s entitlement to indemnification, including providing upon reasonable advance request any documentation or information which is not privileged or otherwise protected from disclosure and which is reasonably available to the Indemnitee and reasonably necessary to such determination.  Any reasonable costs or expenses (including reasonable attorneys’ fees and disbursements) incurred by the Indemnitee in so cooperating shall be borne by the Indemnitor (irrespective of the determination as to the Indemnitee’s entitlement to indemnification) and the Indemnitor hereby indemnifies and agrees to hold the Indemnitee harmless therefrom.

 

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(D)                               In the event the determination of entitlement to indemnification is to be made by Special Legal Counsel pursuant to paragraph 6(B) hereof, the Indemnitee, or the Indemnitor, as the case may be, may, within seven days after such written notice of selection shall have been given, deliver to the Indemnitor or to the Indemnitee, as the case may be, a written objection to such selection.  Such objection may be asserted only on the grounds that the Special Legal Counsel so selected does not meet the requirements of “Special Legal Counsel” as defined in paragraph 1 of this Agreement.  If such written objection is made, the Special Legal Counsel so selected may not serve as Special Legal Counsel until a court has determined that such objection is without merit.  If, within twenty (20) days after submission by the Indemnitee of a written request for indemnification pursuant to paragraph 6(A) hereof, no Special Legal Counsel shall have been selected or, if selected, shall have been objected to, either the Indemnitor or the Indemnitee may petition a court for resolution of any objection which shall have been made by the Indemnitor or the Indemnitee to the other’s selection of Special Legal Counsel and/or for the appointment as Special Legal Counsel of a person selected by the court or by such other person as the court shall designate, and the person with respect to whom an objection is so resolved or the person so appointed shall act as Special Legal Counsel under paragraph 6(B) hereof.  The Indemnitor shall pay all reasonable fees and expenses of Special Legal Counsel incurred in connection with acting pursuant to paragraph 6(B) hereof, and all reasonable fees and expenses incident to the selection of such Special Legal Counsel pursuant to this paragraph 6(D).  In the event that a determination of entitlement to indemnification is to be made by Special Legal Counsel and such determination shall not have been made and delivered in a written opinion within ninety (90) days after the receipt by the Indemnitor of the Indemnitee’s request in accordance with paragraph 6(A), upon the due commencement of any judicial proceeding in accordance with paragraph 8(A) of this Agreement, Special Legal Counsel shall be discharged and relieved of any further responsibility in such capacity.

 

(E)                                 If the person or entity making the determination whether the Indemnitee is entitled to indemnification shall not have made a determination within forty-five (45) days after receipt by the Indemnitor of the request therefor, the requisite determination of entitlement to indemnification shall be deemed to have been made and the Indemnitee shall be entitled to such indemnification, absent:  (i) a misstatement by the Indemnitee of a material fact, or an omission of a material fact necessary to make the Indemnitee’s statement not materially misleading, in connection with the request for indemnification, or (ii) a prohibition of such indemnification under applicable law.  Such 45-day period may be extended for a reasonable time, not to exceed an additional fifteen (15) days, if the person or entity making said determination in good faith requires additional time for the obtaining or evaluating of documentation and/or information relating thereto.  The foregoing provisions of this paragraph 6(E) shall not apply: (i) if the determination of entitlement to indemnification is to be made by the shareholders 

 

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and if within fifteen (15) days after receipt by the Indemnitor of the request for such determination the Board of Trustees resolves to submit such determination to the shareholders for consideration at an annual or special meeting thereof to be held within seventy-five (75) days after such receipt and such determination is made at such meeting, or (ii) if the determination of entitlement to indemnification is to be made by Special Legal Counsel pursuant to paragraph 6(B) of this Agreement.

 

7.                                       PRESUMPTIONS

 

(A)                              In making a determination with respect to entitlement or authorization of indemnification hereunder, the person or entity making such determination shall presume that the Indemnitee is entitled to indemnification under this Agreement and the Indemnitor shall have the burden of proof to overcome such presumption.

 

(B)                                The termination of any Proceeding by conviction, or upon a plea of nolo contendere or its equivalent, or an entry of an order of probation prior to judgment, creates a rebuttable presumption that the Indemnitee did not meet the requisite standard of conduct described herein for indemnification.

 

8.                                       REMEDIES

 

(A)                              In the event that:  (i) a determination is made in accordance with the provisions of paragraph 6 that the Indemnitee is not entitled to indemnification under this Agreement, or (ii) advancement of reasonable Expenses is not timely made pursuant to this Agreement, or (iii) payment of indemnification due the Indemnitee under this Agreement is not timely made, the Indemnitee shall be entitled to an adjudication in an appropriate court of competent jurisdiction of such Indemnitee’s entitlement to such indemnification or advancement of Expenses.

 

(B)                                In the event that a determination shall have been made pursuant to paragraph 6 of this Agreement that the Indemnitee is not entitled to indemnification, any judicial proceeding commenced pursuant to this paragraph 8 shall be conducted in all respects as a de novo trial on the merits.  The fact that a determination had been made earlier pursuant to paragraph 6 of this Agreement that the Indemnitee was not entitled to indemnification shall not be taken into account in any judicial proceeding commenced pursuant to this paragraph 8 and the Indemnitee shall not be prejudiced in any way by reason of that adverse determination.  In any judicial proceeding commenced pursuant to this paragraph 8, the Indemnitor shall have the burden of proving that the Indemnitee is not entitled to indemnification or advancement of Expenses, as the case may be.

 

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(C)                                If a determination shall have been made or deemed to have been made pursuant to this Agreement that the Indemnitee is entitled to indemnification, the Indemnitor shall be bound by such determination in any judicial proceeding commenced pursuant to this paragraph 8, absent:  (i) a misstatement by the Indemnitee of a material fact, or an omission of a material fact necessary to make the Indemnitee’s statement not materially misleading, in connection with the request for indemnification, or (ii) a prohibition of such indemnification under applicable law.

 

(D)                               The Indemnitor shall be precluded from asserting in any judicial proceeding commenced pursuant to this paragraph 8 that the procedures and presumptions of this Agreement are not valid, binding and enforceable and shall stipulate in any such court that the Indemnitor is bound by all the provisions of this Agreement.

 

(E)                                 In the event that the Indemnitee, pursuant to this paragraph 8, seeks a judicial adjudication of such Indemnitee’s rights under, or to recover damages for breach of, this Agreement, if successful on the merits or otherwise as to all or less than all claims, issues or matters in such judicial adjudication, the Indemnitee shall be entitled to recover from the Indemnitor, and shall be indemnified by the Indemnitor against, any and all reasonable Expenses actually incurred by such Indemnitee in connection with each successfully resolved claim, issue or matter.

 

9.                                       NOTIFICATION AND DEFENSE OF CLAIMS

 

The Indemnitee agrees promptly to notify the Indemnitor in writing upon being served with any summons, citation, subpoena, complaint, indictment, information, or other document relating to any Proceeding or matter which may be subject to indemnification or advancement of Expenses covered hereunder, but the failure so to notify the Indemnitor will not relieve the Indemnitor from any liability that the Indemnitor may have to Indemnitee under this Agreement unless the Indemnitor is materially prejudiced thereby.  With respect to any such Proceeding as to which Indemnitee notifies the Indemnitor of the commencement thereof:

 

(A)                             The Indemnitor will be entitled to participate therein at its own expense.

 

(B)                                Except as otherwise provided below, the Indemnitor will be entitled to assume the defense thereof, with counsel reasonably satisfactory to Indemnitee.  After notice from the Indemnitor to Indemnitee of the Indemnitor’s election to assume the defense thereof, the Indemnitor will not be liable to Indemnitee under this Agreement for any legal or other expenses subsequently incurred by Indemnitee in connection with the defense thereof other than reasonable costs of investigation or as otherwise provided below.  Indemnitee shall have the right to employ Indemnitee’s own counsel in such Proceeding, but the fees and disbursements of such counsel incurred after notice from the Indemnitor of the Indemnitor’s assumption of the defense thereof shall be at the expense of Indemnitee unless (a) the employment of counsel by the Indemnitee has been authorized by the

 

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Indemnitor, (b) the Indemnitee shall have reasonably concluded that there may be a conflict of interest between the Indemnitor and the Indemnitee in the conduct of the defense of such action, (c) such Proceeding seeks penalties or other relief against the Indemnitee with respect to which the Indemnitor could not provide monetary indemnification to the Indemnitee (such as injunctive relief or incarceration) or (d) the Indemnitor shall not in fact have employed counsel to assume the defense of such action, in each of which cases the fees and disbursements of counsel shall be at the expense of the Indemnitor.  The Indemnitor shall not be entitled to assume the defense of any Proceeding brought by or on behalf of the Indemnitor, or as to which the Indemnitee shall have reached the conclusion specified in clause (b) above, or which involves penalties or other relief against the Indemnitee of the type referred to in clause (c) above.

 

(C)                                 The Indemnitor shall not be liable to indemnify the Indemnitee under this Agreement for any amounts paid in settlement of any action or claim effected without the Indemnitor’s written consent.  The Indemnitor shall not settle any action or claim in any manner that would impose any penalty or limitation on the Indemnitee without the Indemnitee’s written consent.  Neither the Indemnitor nor Indemnitee will unreasonably withhold or delay consent to any proposed settlement.

 

10.                                 NON-EXCLUSIVITY; SURVIVAL OF RIGHTS; INSURANCE SUBROGATION

 

(A)                              The rights of indemnification and to receive advancement of reasonable Expenses as provided by this Agreement shall not be deemed exclusive of any other rights to which the Indemnitee may at any time be entitled under applicable law, the Declaration of Trust, the Bylaws, any other agreement, a vote of shareholders, a resolution of the Board of Trustees or otherwise, except that any payments otherwise required to be made by the Indemnitor hereunder shall be offset by any and all amounts received by the Indemnitee from any other indemnitor or under one or more liability insurance policies maintained by an indemnitor or otherwise and shall not be duplicative of any other payments received by an Indemnitee from the Indemnitor in respect of the matter giving rise to the indemnity hereunder; provided, however, that if indemnification rights are provided by an Additional Indemnitor as defined in Section 18(B) hereof, such Section shall govern.  No amendment, alteration or repeal of this Agreement or any provision hereof shall be effective as to the Indemnitee with respect to any action taken or omitted by the Indemnitee prior to such amendment, alteration or repeal.

 

(B)                                To the extent that the Company maintains an insurance policy or policies providing liability insurance for trustees and officers of the Company, the Indemnitee shall be covered by such policy or policies in accordance with its or their terms to the maximum extent of the coverage available and upon any Change in Control the Company shall use commercially reasonable efforts to 

 

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obtain or arrange for continuation and/or “tail” coverage for the Indemnitee to the maximum extent obtainable at such time.

 

(C)                                Except as otherwise provided in Section 18(B) hereof, in the event of any payment under this Agreement, the Indemnitor shall be subrogated to the extent of such payment to all of the rights of recovery of the Indemnitee, who shall execute all papers required and take all actions necessary to secure such rights, including execution of such documents as are necessary to enable the Indemnitor to bring suit to enforce such rights.

 

(D)                               Except as otherwise provided in Section 18(B) hereof, the Indemnitor shall not be liable under this Agreement to make any payment of amounts otherwise indemnifiable hereunder if and to the extent that the Indemnitee has otherwise actually received such payment under any insurance policy, contract, agreement, or otherwise.

 

11.                                 CONTINUATION OF INDEMNITY

 

(A)                              All agreements and obligations of the Indemnitor contained herein shall continue during the period the Indemnitee is an officer or a member of the Board of Trustees of the Company and shall continue thereafter so long as the Indemnitee shall be subject to any threatened, pending or completed Proceeding by reason of such Indemnitee’s Corporate Status and during the period of statute of limitations for any act or omission occurring during the Indemnitee’s term of Corporate Status.  This Agreement shall be binding upon the Indemnitor and its respective successors and assigns and shall inure to the benefit of the Indemnitee and such Indemnitee’s heirs, executors and administrators.

 

(B)                                The Company shall require and cause any successor (whether direct or indirect by purchase, merger, consolidation or otherwise) to all, substantially all or a substantial part, of the business and/or assets of the Company, by written agreement in form and substance reasonably satisfactory to the Indemnitee, expressly to assume and agree to perform this Agreement in the same manner and to the same extent that the Company would be required to perform if no such succession had taken place.

 

12.                                 SEVERABILITY

 

If any provision or provisions of this Agreement shall be held to be invalid, illegal or unenforceable for any reason whatsoever, (i) the validity, legality, and enforceability of the remaining provisions of this Agreement (including, without limitation, each portion of any paragraph of this Agreement containing any such provision held to be invalid, illegal or unenforceable, that is not itself invalid, illegal or unenforceable) shall not in any way be affected or impaired thereby, and (ii) to the fullest extent possible, the provisions of this Agreement 

 

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(including, without limitation, each portion of any paragraph of this Agreement containing any such provision held to be invalid, illegal or unenforceable, that is not itself invalid, illegal or unenforceable) shall be construed so as to give effect to the intent manifested by the provisions held invalid, illegal or unenforceable.

 

13.                                 EXCEPTIONS TO RIGHT OF INDEMNIFICATION OR ADVANCEMENT OF EXPENSES

 

Notwithstanding any other provisions of this Agreement, the Indemnitee shall not be entitled to indemnification or advancement of reasonable Expenses under this Agreement with respect to (i) any Proceeding initiated by such Indemnitee against the Indemnitor other than a proceeding commenced pursuant to paragraph 8 hereof, or (ii) any Proceeding for an accounting of profits arising from the purchase and sale by Indemnitee of securities of the Company in violation of Section 16(b) of the Exchange Act, rules and regulations promulgated thereunder, or any similar provisions of any federal, state or local statute.

 

14.                                 NOTICE TO THE COMPANY SHAREHOLDERS

 

Any indemnification of, or advancement of reasonable Expenses, to an Indemnitee in accordance with this Agreement, if arising out of a Proceeding by or in the right of the Company, shall be reported in writing to the shareholders of the Company with the notice of the next Company shareholders’ meeting or prior to the meeting.

 

15.                                 HEADINGS

 

The headings of the paragraphs of this Agreement are inserted for convenience only and shall not be deemed to constitute part of this Agreement or to affect the construction thereof.

 

16.                                 MODIFICATION AND WAIVER

 

No supplement, modification or amendment of this Agreement shall be binding unless executed in writing by each of the parties hereto.  No waiver of any of the provisions of this Agreement shall be deemed or shall constitute a waiver of any other provisions hereof (whether or not similar) nor shall such waiver constitute a continuing waiver.

 

17.                                 NOTICES

 

All notices, requests, demands, and other communications hereunder shall be in writing and shall be deemed to have been duly given if (i) delivered by hand or by a nationally recognized overnight delivery service and received by the party to whom said notice or other communication shall have been directed, or (ii) mailed by certified or registered mail with postage prepaid, on the third business day after the date on which it is so mailed, if so delivered or mailed, as the case may be, to the following addresses:

 

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If to the Indemnitee, to the address set forth in the records of the Company.

 

If to the Indemnitor, to:

 

RLJ Lodging Trust

3 Bethesda Metro Center

Suite 1000

Bethesda, MD 20814

Attention:  President and Chief Executive Officer

 

or to such other address as may have been furnished to the Indemnitee by the Indemnitor or to the Indemnitor by the Indemnitee, as the case may be.

 

18.                                 CONTRIBUTION

 

(A)                              To the fullest extent permissible under applicable law, if the indemnification provided for in this Agreement is unavailable to Indemnitee for any reason whatsoever, the Company, in lieu of indemnifying Indemnitee, shall contribute to the amount incurred by Indemnitee, whether for judgments, penalties, fines and settlements and reasonable expenses actually incurred by or on behalf of an Indemnitee, in connection with any claim relating to an indemnifiable event under this Agreement, in such proportion as is deemed fair and reasonable in light of all of the circumstances of such Proceeding in order to reflect (i) the relative benefits received by the Company and Indemnitee as a result of the event(s) and/or transaction(s) giving cause to such Proceeding; and/or (ii) the relative fault of the Company (and its trustees, officers, employees and agents) and Indemnitee in connection with such event(s) and/or transaction(s).

 

(B)                                The Company acknowledges and agrees that as between the Company and any other entity that has provided indemnification rights in respect of Indemnitee’s service as a trustee of the Company at the request of such entity (an “Additional Indemnitor”), the Company shall be primarily liable to Indemnitee as set forth in this Agreement for any indemnification claim (including, without limitation, any claim for advancement of Expenses) by Indemnitee in respect of any Proceeding for which Indemnitee is entitled to indemnification hereunder.  In the event the Additional Indemnitor is liable to any extent to Indemnitee by virtue of indemnification rights provided by the Additional Indemnitor to Indemnitee in respect of Indemnitee’s service on the Board at the request of the Additional Investor and Indemnitee is also entitled to indemnification under this Agreement (including, without limitation, for advancement of Expenses) as a result of any Proceeding, the Company shall pay, in the first instance, the entire amount of any indemnification claim (including, without limitation, any claim for advancement of Expenses) brought by the Indemnitee against the Company under this Agreement (including, without limitation, any claim for advancement of 

 

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Expenses) without requiring the Additional Indemnitor to contribute to such payment and the Company hereby waives and relinquishes any right of contribution, subrogation or any other right of recovery of any kind it may have against the Additional Indemnitor in respect thereof.  The Company further agrees that no advancement or payment by the Additional Indemnitor on behalf of Indemnitee with respect to any claim for which Indemnitee has sought indemnification from the Company shall affect the foregoing and the Additional Indemnitor shall be subrogated to the extent of such advancement or payment to all of the rights of recovery of Indemnitee against the Company.

 

19.                                 GOVERNING LAW

 

The parties agree that this Agreement shall be governed by, and construed and enforced in accordance with, the laws of the State of Maryland, without application of the conflict of laws principles thereof.

 

20.                                 NO ASSIGNMENTS

 

The Indemnitee may not assign its rights or delegate obligations under this Agreement without the prior written consent of the Indemnitor.  Any assignment or delegation in violation of this paragraph 20 shall be null and void.

 

21.                                 NO THIRD PARTY RIGHTS

 

Except for the rights of an Additional Indemnitor under paragraph 18(B) hereof: (a), nothing expressed or referred to in this Agreement will be construed to give any person other than the parties to this Agreement any legal or equitable right, remedy or claim under or with respect to this Agreement or any provision of this Agreement; and (b) this Agreement and all of its provisions are for the sole and exclusive benefit of the parties to this Agreement and their successors and permitted assigns.

 

22.                                 COUNTERPARTS

 

This Agreement may be executed in one or more counterparts, each of which shall be deemed an original, but all of which together constitute an agreement binding on all of the parties hereto.

 

[Signature page follows]

 

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IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of the day and year first above written.

 

	
 
    	
RLJ LODGING TRUST
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
 
    
	
 
    	
Name:
    	
Thomas J. Baltimore, Jr.
    
	
 
    	
Title:
    	
President   and Chief Executive Officer
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
INDEMNITEE:
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
 
    
	
 
    	
Name:Exhibit 4(viii)

 

EAGLE

LIFE INSURANCE COMPANY

 

[6000 Westown Parkway]

[West Des Moines, Iowa 50266]

[(866) 526-0995]

 

A STOCK LIFE INSURANCE COMPANY

 

We pay the benefits of this Contract, subject to all of its provisions, terms and conditions. We issue this Contract based on the attached Application and payment of the Initial Premium on or before the Contract Date.

 

15 DAY RIGHT TO EXAMINE CONTRACT

 

YOU MAY RETURN THIS CONTRACT TO YOUR AGENT OR OUR HOME OFFICE FOR UP TO 15 DAYS AFTER YOU RECEIVE IT, 30 DAYS IF REPLACEMENT IS INVOLVED. THIS CONTRACT WILL BE VOID UPON OUR, OR OUR AGENT’S, RECEIPT OF YOUR RETURNED CONTRACT.  WITHIN 10 DAYS OF THE EARLIER OF OUR, OR OUR AGENT’S, RECEIPT OF YOUR RETURNED CONTRACT, WE WILL REFUND ANY PREMIUM PAID.

 

Signed for the Company at Des Moines, Iowa, on the Contract Date.

 

	
/s/ Debra J. Richardson
    	
 
    	
/s/ D. J. Noble
    
	
Debra J. Richardson
    	
 
    	
D. J. Noble
    
	
Secretary
    	
 
    	
President
    

 

FLEXIBLE PREMIUM DEFERRED ANNUITY CONTRACT WITH INDEX-LINKED INTEREST OPTIONS AND A MARKET VALUE ADJUSTMENT

The Market Value Adjustment feature may result in both upward and downward adjustments in Partial Withdrawals and Surrender Benefits

Index Credits currently linked to S&P 500 Index

10% Penalty-free Withdrawal Option available after 1st Contract Year
 Death Benefit Prior to Maturity
 Monthly Income at Maturity
 No Dividends
 Nonparticipating
 Although Contract Values may be affected by an external Index, the Contract does not
 participate in any stock or equity investments

 

This is a legal Contract between You and Us.

READ YOUR CONTRACT CAREFULLY

 

INDEX-4-09R

 

1

 

TABLE OF CONTENTS

 

	
Contract Proceeds and Pay-out Provisions
    	
 
    	
Page 12
    
	
Contract   Specifications
    	
 
    	
Page 3
    
	
Contract   Values Provisions
    	
 
    	
Page 8-11
    
	
Death   Pay-out Provisions
    	
 
    	
Page 14
    
	
Definitions
    	
 
    	
Page 5
    
	
General   Provisions
    	
 
    	
Page 6
    
	
Income   for Specified Period Factors
    	
 
    	
Page 16
    
	
Joint   and Survivor Income Factors
    	
 
    	
Page 18
    
	
Life   Income with Specified Period Certain Factors
    	
 
    	
Page 17
    
	
Maturity   Pay-out Provisions
    	
 
    	
Page 12
    
	
Premium   Provisions
    	
 
    	
Page 7
    
	
Settlement   Option Pay-out Provisions
    	
 
    	
Page 15
    
	
Table   of Guaranteed Values
    	
 
    	
Page 19
    
	
Value   Specifications
    	
 
    	
Page 4
    
	
Withdrawal   and Surrender Pay-out Provisions
    	
 
    	
Page 13
    

 

“Standard & Poor’s®”, “S&P®”, “S&P 500®”, “Standard & Poor’s 500” and “500” are trademarks of The McGraw-Hill Companies, Inc. and have been licensed for use by Eagle Life Insurance Company. This Product is not sponsored, endorsed, sold or promoted by Standard & Poor’s and Standard & Poor’s makes no representation regarding the advisability of purchasing this Product.

 

2

 

CONTRACT SPECIFICATIONS

 

	
1.
    	
 
    	
Contract Number:
    	
 
    	
[123456]
    
	
2.
    	
 
    	
Contract Date:
    	
 
    	
[January 1,   2010]
    
	
3.
    	
 
    	
Owner:
    	
 
    	
[John   Doe]
    
	
4.
    	
 
    	
Annuitant:
    	
 
    	
[John   Doe]
    
	
5.
    	
 
    	
Annuitant’s Issue Age:
    	
 
    	
[35]
    
	
6.
    	
 
    	
Annuitant’s Sex:
    	
 
    	
[M]
    
	
7.
    	
 
    	
Maturity Date:
    	
 
    	
[January 1,   2089]
    
	
8.
    	
 
    	
Initial Premium:
    	
 
    	
[$20,000]
    
	
9.
    	
 
    	
Planned Premium Mode:
    	
 
    	
[Annual]
    
	
10.
    	
 
    	
Planned Premium Amount:
    	
 
    	
[$4,000]
    
	
 
    	
 
    	
Minimum Contract Value Allowed:
    	
 
    	
$2,000
    
	
11.
    	
 
    	
Minimum Guaranteed Interest Rate (MGIR):
    	
 
    	
[1.5%]*
    
	
12.
    	
 
    	
Index used in MVA calculation:
    	
 
    	
[The   BofA Merrill Lynch 3-5 Year US Corporate Index (C2A0)]
    

 

*Applies to Minimum Guaranteed Surrender Value only.

 

	
 
    	
 
    	
Surrender Charge Period:
    	
 
    	
3   Contract Years
    
	
 
    	
 
    	
Surrender Charge Percentage:
    	
 
    	
 
    

 

	
Contract Year:
    	
1
    	
 
    	
2
    	
 
    	
3
    	
 
    	
4+
    
	
Percentage:
    	
7
    	
 
    	
6
    	
 
    	
5
    	
 
    	
0
    

 

13.  Nonforfeiture Values: The nonforfeiture values for this contract are calculated by accumulating 87.5% of all premiums, less all withdrawals, at the nonforfeiture interest rate of [1.10%].

 

The minimum contract values provided under this Contract meet or exceed the required minimum nonforfeiture values.

 

	
14.
    	
[Delivery State DOI]
    
	
15.
    	
Phone Number: [Phone # of delivery state DOI]
    

 

INDEX-4-09R-3

 

3

 

CONTRACT SPECIFICATIONS

 

	
Contract Number:
    	
 
    	
[123456]
    
	
Contract Date:
    	
 
    	
[January 1,   2010]
    
	
Owner:
    	
 
    	
[John   Doe]
    
	
Annuitant:
    	
 
    	
[John   Doe]
    
	
Annuitant’s Issue Age:
    	
 
    	
[35]
    
	
Annuitant’s Sex:
    	
 
    	
[M]
    
	
Maturity Date:
    	
 
    	
[January 1,   2089]
    
	
Initial Premium:
    	
 
    	
[$20,000]
    
	
Planned Premium Mode:
    	
 
    	
[Annual]
    
	
Planned Premium Amount:
    	
 
    	
[$4,000]
    
	
Minimum Contract Value Allowed:
    	
 
    	
$2,000
    
	
Minimum Guaranteed Interest Rate (MGIR):
    	
 
    	
[1.5%]*
    
	
Index used in MVA calculation:
    	
 
    	
[The   BofA Merrill Lynch 5-7 Year US Corporate Index (C3A0)]
    

 

*Applies to Minimum Guaranteed Surrender Value only.

 

	
Surrender Charge Period:
    	
 
    	
5   Contract Years
    
	
Surrender Charge Percentage:
    	
 
    	
 
    

 

	
Contract Year:
    	
1
    	
 
    	
2
    	
 
    	
3
    	
 
    	
4
    	
 
    	
5
    	
 
    	
6+
    
	
Percentage:
    	
7
    	
 
    	
6
    	
 
    	
5
    	
 
    	
4
    	
 
    	
3
    	
 
    	
0
    

 

Nonforfeiture Values: The nonforfeiture values for this contract are calculated by accumulating 87.5% of all premiums, less all withdrawals, at the nonforfeiture interest rate of [1.10%].

 

The minimum contract values provided under this Contract meet or exceed the required minimum nonforfeiture values.

 

[Delivery State DOI]

Phone Number: [Phone # of delivery state DOI]

 

INDEX-4-09R-5

 

3

 

CONTRACT SPECIFICATIONS

 

	
Contract Number:
    	
 
    	
[123456]
    
	
Contract Date:
    	
 
    	
[January 1,   2010]
    
	
Owner:
    	
 
    	
[John   Doe]
    
	
Annuitant:
    	
 
    	
[John   Doe]
    
	
Annuitant’s Issue Age:
    	
 
    	
[35]
    
	
Annuitant’s Sex:
    	
 
    	
[M]
    
	
Maturity Date:
    	
 
    	
[January 1,   2089]
    
	
Initial Premium:
    	
 
    	
[$20,000]
    
	
Planned Premium Mode:
    	
 
    	
[Annual]
    
	
Planned Premium Amount:
    	
 
    	
[$4,000]
    
	
Minimum Contract Value Allowed:
    	
 
    	
$2,000
    
	
Minimum Guaranteed Interest Rate (MGIR):
    	
 
    	
[1.5%]*
    
	
Index used in MVA calculation:
    	
 
    	
[The   BofA Merrill Lynch 5-7 Year US Corporate Index (C3A0)]
    

 

*Applies to Minimum Guaranteed Surrender Value only.

 

	
Surrender Charge Period:
    	
 
    	
7   Contract Years
    
	
Surrender Charge Percentage:
    	
 
    	
 
    

 

	
Contract Year:
    	
 
    	
1
    	
2
    	
 
    	
3
    	
 
    	
4
    	
 
    	
5
    	
 
    	
6
    	
 
    	
7
    	
 
    	
8+
    
	
Percentage:
    	
 
    	
7
    	
6
    	
 
    	
5
    	
 
    	
4
    	
 
    	
3
    	
 
    	
2
    	
 
    	
1
    	
 
    	
0
    

 

Nonforfeiture Values: The nonforfeiture values for this contract are calculated by accumulating 87.5% of all premiums, less all withdrawals, at the nonforfeiture interest rate of [1.10%].

 

The minimum contract values provided under this Contract meet or exceed the required minimum nonforfeiture values.

 

[Delivery State DOI]

Phone Number: [Phone # of delivery state DOI]

 

INDEX-4-09R-7

 

3

 

VALUE OPTION SPECIFICATIONS

 

FIXED VALUE OPTION

 

	
16.
    	
Initial Premium:
    	
 
    	
[0.00]
    
	
17.
    	
Initial Interest Rate:
    	
 
    	
[1.50%]
    
	
 
    	
Initial Interest Rate Guarantee Period:
    	
 
    	
1st   Contract Year
    
	
 
    	
Minimum Guaranteed Interest Rate (FV-MGIR):
    	
 
    	
1.00%
    
	
 
    	
FV-MGIR Guarantee Period:
    	
 
    	
Life   of Contract
    
	
 
    	
 
    	
 
    	
 
    
	
INDEXED VALUE OPTIONS
    
	
 
    
	
 
    	
 
    	
Cap Rate Guarantee Period:
    	
 
    	
One   Contract Year
    
	
The above Indexed Value   Specification limit applies to each Indexed Value Option listed below.
    
	
 
    
	
ANNUAL POINT TO POINT VALUE   OPTION
    	
 
    	
 
    
	
18.
    	
 
    	
Index:
    	
 
    	
[Standard &   Poor’s 500 Composite Stock Price Index]
    
	
19.
    	
 
    	
Initial Premium:
    	
 
    	
[$10,000]
    
	
20.
    	
 
    	
Index on Contract Date:
    	
 
    	
[800]
    
	
21.
    	
 
    	
Initial Cap Rate:
    	
 
    	
[7%]
    
	
 
    	
 
    	
Guaranteed Minimum Cap Rate:
    	
 
    	
4%
    
	
 
    	
 
    	
 
    	
 
    	
 
    
	
MONTHLY POINT TO POINT (MPT)   VALUE OPTION
    	
 
    
	
22.
    	
 
    	
Index:
    	
 
    	
[Standard &   Poor’s 500 Composite Stock Price Index]
    
	
23.
    	
 
    	
Initial Premium:
    	
 
    	
[$10,000]
    
	
24.
    	
 
    	
Index on Contract Date:
    	
 
    	
[800]
    
	
25.
    	
 
    	
MPT Monthly Cap Rate:
    	
 
    	
[3%]
    
	
 
    	
 
    	
MPT Guaranteed Minimum Monthly Cap Rate:
    	
 
    	
1%
    

 

Index Credits may not be reflected in Your Cash Surrender Value due to the calculation of the Minimum Guaranteed Surrender Value described on Page 8.

 

Note: You may check current indices in the Wall Street Journal, in Barron’s, on the Internet, or with Your financial advisor.

 

Index linked returns do not include the portion of returns generated by the underlying Index that comes from dividends.

 

We can change Cap Rates once each Contract Year, subject to guaranteed minimums shown, and based on future anticipated experience.

 

INDEX-4-09R

 

4

 

DEFINITIONS

 

In this Contract, these terms mean:

 

	
WE, OUR, US, COMPANY:
    	
 
    	
EAGLE   LIFE INSURANCE COMPANY
    
	
 
    	
 
    	
 
    
	
OWNER, YOU, YOUR:
    	
 
    	
The   person named in the Application or by later changes as the Owner. The Owner   has all rights under this Contract.
    
	
 
    	
 
    	
 
    
	
ANNUITANT:
    	
 
    	
The   person shown on Page 3 whose life is the measuring life for Your   Contract. The Annuitant and Owner must be the same unless the owner is a   non-natural person.
    
	
 
    	
 
    	
 
    
	
PAYEE:
    	
 
    	
The   person to whom We pay Proceeds.
    
	
 
    	
 
    	
 
    
	
BENEFICIARY:
    	
 
    	
The   person or persons shown on the Application or by later changes to whom We pay   death Proceeds. You may change a Beneficiary as this Contract allows.
    
	
 
    	
 
    	
 
    
	
APPLICATION:
    	
 
    	
The   form You filled out to apply for this Contract. We have attached a copy.
    
	
 
    	
 
    	
 
    
	
NOTICE, NOTIFY, NOTIFYING:
    	
 
    	
Written   requests and information We receive at Our Home Office, at address shown on   Page 1, that You sign, and We accept.
    
	
 
    	
 
    	
 
    
	
AGE:
    	
 
    	
The   Annuitant’s Age last birthday.
    
	
 
    	
 
    	
 
    
	
CONTRACT DATE, ISSUE DATE:
    	
 
    	
The   date this Contract becomes effective. This Contract does not take effect   until delivered to You and You have paid the Initial Premium.
    
	
 
    	
 
    	
 
    
	
MATURITY DATE:
    	
 
    	
The   Maturity Date is the last date this Contract can remain in force, is first   Contract Anniversary after Annuitant’s 114th birthday, and is shown on   Page 3.
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
Please   Note: Annuitization Option is also available and is described on   Page 12.
    
	
 
    	
 
    	
 
    
	
INDEX:
    	
 
    	
The   Index is Standard & Poor’s 500 Composite Stock Price Index or any   substituted suitable alternative index.
    
	
 
    	
 
    	
 
    
	
INDEX PRICE:
    	
 
    	
The   Index Price as of any date is the closing Price of the Index on that date.
    
	
 
    	
 
    	
 
    
	
INDEX DATE:
    	
 
    	
The   Index Date is the Contract Date and the same day of each month thereafter. If   the same day does not exist in a month, such as the 31st, We use the first   preceding day. Example: If the Contract Date is January 31, 2009, the   next Index Date is February 28, 2009, and the last day of each month   thereafter.
    
	
 
    	
 
    	
 
    
	
CONTRACT YEAR, ANNIVERSARY:
    	
 
    	
We   compute Contract Years and Anniversaries from the Contract Date. Example: If   the Contract Date is January 1, 2009, the first Contract Year ends on   December 31, 2009, and the first Anniversary falls on January 1,   2010.
    
	
 
    	
 
    	
 
    
	
CAP RATES:
    	
 
    	
The   percentages shown on Page 4, used in calculating the Index Credits as   described on Page 10. We declare the Cap Rates annually in advance. The   Cap Rates will never be less than the Guaranteed Minimum Cap Rate and are   guaranteed for the Cap Rate Guarantee Period shown on Page 4.
    

 

5

 

GENERAL PROVISIONS

 

CONTRACT

 

This Contract, attached Application, and any attached amendments, riders or endorsements make up the entire Contract. All statements made by Applicant on the Application for issuance of the Contract are representations and not warranties.

 

CONTRACT CHANGES

 

No one may change any part of this Contract or waive any provision except You or one of Our officers. Both must agree to the change. All changes must be in writing.

 

CONFORMITY WITH THE LAW

 

The provisions of this Contract conform to the minimum requirements of the delivery state. If any provision of this Contract is in conflict with the laws of the delivery state, the Contract is hereby amended to conform with the laws of the delivery state. The laws of the delivery state control over any conflicting laws of any other state where the Owner may live on or after the Contract Date.

 

CHANGES IN THE LAW

 

We will amend this Contract to comply with any changes in laws governing it or taxation of benefits under it.

 

OWNERSHIP*

 

This Contract belongs to You. You have all rights, subject to the rights of: any irrevocable Beneficiary; any assignee of record with Us; and any restricted Ownership. You may change the Owner by giving Us written Notice. We reserve the right, except to the extent prohibited by applicable state law or regulation, or by the action of the Insurance Commissioner, Bank Commissioner, or any agency or officer performing like functions of the applicable State, to require that any change of Owner will be effective only upon Our acceptance, and to refuse such changes at any time on a non-discriminatory basis. No change applies to any action We take before receiving Notice. A change of Owner does not change the Beneficiary.

 

ASSIGNMENT*

 

You may assign this Contract by giving Us written Notice. We reserve the right, except to the extent prohibited by applicable state law or regulation or Bank Commissioner, or any agency or officer performing like functions of the applicable State, to require that assignment will be effective only upon Our acceptance, and to refuse assignments at any time on a non-discriminatory basis. No assignment applies to any action We take before receiving Notice.

 

*Qualified contracts may not be transferred or assigned. 

 

INCONTESTABILITY

 

We will not contest this Contract after it has been in force during the Annuitant’s lifetime for 2 years from the Issue Date, except in the case of fraud in the procurement of the contract, when permitted by applicable law in the state where the Contract is delivered. Read the Application, a copy of which is attached. If anything is not true or complete to the best of Your knowledge and belief, Notify Us.

 

NONFORFEITABILITY

 

Before the Maturity Date, the Cash Surrender Value is always nonforfeitable.

 

INTEREST RATES

 

The rate and duration of the Fixed Value Initial Interest Rate shown on Page 4 apply only to Your Fixed Value Initial Premium. We declare Our Current Fixed Value Interest Rate in advance and guarantee it will never be less than the Fixed Value Minimum Guaranteed Interest Rate(FV-MGIR). The Minimum Guaranteed Interest Rate (MGIR) shown on Page 3, applies to Minimum Guaranteed Surrender Value only, is based on the average of the 5 Year Constant Maturity Treasury Rate for October of the previous year, and is guaranteed until this Contract terminates. All Interest Rates are calculated as an effective annual rate, compounded daily.

 

6

 

RESERVE BASIS

 

The reserve method and basis for this Contract are on file with the Insurance Department in Your state.

 

STATEMENT OF VALUES

 

Once each year, We will send You a Statement of Values. Using current information as of no more than 4 months prior to the mailing date, it will show:  Beginning and ending dates of the Statement of Values; Premiums paid; Withdrawals and applicable Surrender Charges; Values as described on Pages 8, 9, 10, & 11 before application of MVA; MVA amount used to determine Cash Surrender Value; Interest Rates; and Caps. We will provide additional reports to You upon request at no additional fee.

 

TERMINATION

 

This Contract terminates on the earliest of:

(1)           The date You do not maintain Minimum Values as described on Page 11;

(2)           The date You choose to exercise the Annuitization Option described on Page 12;

(3)           The date You Surrender Your Contract;

(4)           The date the Annuitant or Owner dies; or

(5)           The Maturity Date.

 

PREMIUM PROVISIONS

 

PAYMENT AND ALLOCATION OF PREMIUMS

 

The Initial Premium, the amount We receive with Your Application, as shown on Page 3, is due on the Contract Date. You may direct all or any portion of Your Initial Premium to either Your Fixed Value Option, either of the Indexed Value Options, or any combination thereof, subject to the Limitations below. You may make Additional Premium payments after the Initial Premium in any amount and frequency, also subject to Limitations below.  Your Additional Premiums will automatically go into Your Fixed Value Option as described in Transfer of Additional Premium Payments below.

 

If mandated under applicable law, We may be required to reject a Premium Payment. We may also be required to provide additional information about an Owner and an Owner’s Contract to government regulators.

 

TRANSFER OF ADDITIONAL PREMIUM PAYMENTS

 

We will hold Your Additional Premiums in Your Fixed Value Option, credit Interest as described in Fixed Value Option section, and unless You elect otherwise under Transfer of Values Option, the Premiums and Interest thereon will remain in the Fixed Value Option.

 

LIMITATIONS

 

(1)           Initial Premium

a.             The minimum Initial Premium We will accept is $10,000.

b.             The minimum required to select allocation to an Indexed Value Option is 10% of Your Initial Premium.

 

(2)           Additional Premiums - You may pay Additional Premiums if:

a.             The Contract is in force;

b.             The Owner/Annuitant is alive;

c.             The Additional Premium is at least $1,000; and

d.             The maximum cumulative Premium per Owner/Annuitant is $1,000,000.

 

7

 

CONTRACT VALUES PROVISIONS

 

CONTRACT VALUE

 

Your Contract Value equals the sum of:

 

(1)                                The value of Your Fixed Value Option; plus

(2)                                The value of Your Indexed Value Options.

 

We allocate Your Premiums between Your Fixed and/or Indexed Value Options as You direct, subject to Our rules governing Premium allocation. See “PREMIUM PROVISIONS” section above.

 

CASH SURRENDER VALUE

 

The Cash Surrender Value is the amount of Proceeds payable if You Surrender this Contract during the Surrender Charge Period, and is equal to the greater of:

 

(1)                                Contract Value minus any applicable Surrender Charges and plus or minus applicable MVA, each calculated as described on Pages 8 & 9; or

(2)                                Minimum Guaranteed Surrender Value.

 

MINIMUM GUARANTEED SURRENDER VALUE

 

The Surrender Value of Your Contract will never be less than:

 

(1)                                87.5% of all Premiums; less

(2)                                Any Withdrawal Proceeds;

(3)                                Accumulated at Minimum Guaranteed Interest Rate as shown on Page 3.

 

SURRENDER CHARGE

 

We take a Surrender Charge on Partial Withdrawals or full Surrenders during the Surrender Charge Period. We calculate Surrender Charges as follows:

 

(1)                                At Partial Withdrawal, the Withdrawal Amount times the applicable Surrender Charge Percentage shown on Page 3; or

(2)                                At Surrender, the Contract Value, plus any Penalty-Free Withdrawal Proceeds taken in the last 12 months, times the applicable Surrender Charge Percentage shown on Page 3.

 

8

 

MARKET VALUE ADJUSTMENT (MVA)

 

The Market Value Adjustment is an amount by which we adjust pay-out amounts during the Surrender Charge Period, and is calculated as follows:

 

(1)                                At Partial Withdrawal, the Withdrawal Amount times the (MVA Factor minus 1); or

(2)                                At Surrender, the sum of Contract Value, plus any Penalty-Free Withdrawal Proceeds taken in the last 12 months, times the (MVA Factor minus 1).

 

The Market Value Adjustment Factor is

MVA Factor = [A/B]t

 

Where

A = [ 1 + the Effective Yield* of the appropriate Index on the Contract Date];

B = [ 1 + the Effective Yield* of the appropriate Index on the day before the Withdrawal or Surrender]; 

t = Number of days from the date of Surrender or Withdrawal to the next anniversary divided by 365, plus the number of whole years from the next anniversary to the end of the surrender charge period.

 

MVA Factor = 1 (one) after the surrender charge period.

 

*Calculated on a semi-annual compounding basis.

 

The MVA can be positive or negative and will never cause the Cash Surrender Value to be greater than the Contract Value or less than the Minimum Guaranteed Surrender Value.

 

MVA Index

 

If: (i) the Index is discontinued; (ii) We are unable to use the Index or; (iii) the calculation of the Index is changed substantially, We may substitute a suitable alternative index and will Notify You.

 

FIXED VALUE OPTION

 

The value of the Fixed Value Option equals:

 

(1)                                On Contract Date - the Fixed Value Initial Premium shown on Page 4, if any.

(2)                                At each Anniversary:

a.               The value of the Fixed Value Option on the last Anniversary**; plus

b.              Any Premiums paid since the last Anniversary; less

c.               Any Withdrawal Amounts since last Anniversary; plus

d.              Interest credited**; plus or minus

e.               Any Transferred Values on the current Anniversary.

(3)                                Between Anniversaries:

a.               The value of the Fixed Value Option on the last Anniversary**; plus

b.              Any Premiums paid since the last Anniversary; less

c.               Any Withdrawal Amounts since the last Anniversary; plus

d.              Interest credited.***

 

**When calculating Values on the first Anniversary or during the first Contract Year (or for the first month or during the first month on the Monthly Point to Point Indexed Value Option), use the Value on the Contract Date.

 

***Never less than FV-MGIR shown on Page 4.

 

9

 

INDEX

 

The Index on the Issue Date is shown on Page 4. If the Index is not available for any Index Date, We will use the Index on the first preceding day for which it is available. Indices are published in the Wall Street Journal. If: (i) the Index is discontinued; (ii) We are unable to use the Index or; (iii) the calculation of the Index is changed substantially, We may substitute a suitable alternative Index and will Notify You.

 

If the Index is discontinued during a Contract Year, We may transfer the value of Your Indexed Value Options to Your Fixed Value Option and credit the amount transferred with the Current Fixed Value Interest Rate for the remainder of the Contract Year. We treat any portion of the Contract Year in which the amount transferred remained in the Indexed Value Option as a full Contract Year for the purpose of crediting any Index Credits.

 

We may terminate or substitute any of the Indexed Value Options at any time by sending You written Notice at Your last known address at least 60 days in advance of the effective date on which the Indexed Value Option will terminate or be substituted.

 

INDEXED VALUE OPTIONS

 

The value of the Indexed Value Options equals the value of the Annual Point to Point Value Option plus the value of the Monthly Point to Point Value Option.

 

Annual Point to Point Value Option—The value of the Point to Point Value Option equals:

 

(1)                                On the Contract Date - The Annual Point to Point Value Option Initial Premium shown on Page 4, if any.

(2)                                At each Anniversary:

a.               The value of the Annual Point to Point Value Option on the last Anniversary*; less

b.              Any Withdrawal Amounts since the last Anniversary; plus

c.               Annual Point to Point Value Option Index Credits; plus or minus

d.              Any Transferred Values on the current Anniversary.

(3)                                Between Anniversaries:

a.               The value of the Annual Point to Point Value Option on the last Anniversary*; less

b..           Any Withdrawal Amounts since last Anniversary.

 

Monthly Point to Point Value Option — The value of the Monthly Point to Point Value Option equals:

 

(1)                                On the Contract Date - The MPT Value Option Initial Premium shown on Page 4, if any.

(2)                                At each Anniversary =

a.               The value of the MPT Value Option on the last Anniversary*; less

b.              Any Withdrawal Amounts since the last Anniversary; plus

c.               MPT Value Option Index Credit; plus or minus

d.              Any Transferred Values on the current Anniversary.

(3)                                Between Anniversaries =

a.               The value of the MPT Value Option on the last Anniversary*; less

b.              Any Withdrawal Amounts since last Anniversary.

 

*When calculating Values on the first Anniversary or during the first Contract Year (or for the first month or during the first month on the Monthly Point to Point Indexed Value Option), use the Value on the Contract Date.

 

Transferred Values: The values transferred from one Value Option to another Value Option on any Anniversary as provided in the Transfer of Values Option section on Page 11.

 

10

 

TRANSFER OF VALUES OPTION

 

On each Anniversary, You may transfer Your money between Your Fixed and/or Indexed Value Options, subject to a $1,000 minimum to maintain an Indexed Value Option. We calculate and apply Index Credits before we process transfers.

To transfer Your money between Value Options, We must receive Our completed Transfer of Values form on or before the Anniversary on which You want the transfer to occur, or on another date which We may determine later.

If mandated under applicable law, We may block an Owner’s account and refuse to process any request for transfer until We receive instructions from the appropriate regulator.

 

MINIMUM VALUES

 

To be maintained, the value of an Indexed Value Option must be at least $1,000. If, through Withdrawals or transfers, You reduce an Indexed Value Option to less than $1,000, We will automatically close that Indexed Value Option and transfer the remaining funds to Your Fixed Value Option on the next Contract Anniversary. To be maintained, Your Contract must contain at least the Minimum Contract Value Allowed as shown on Page 3. If through Withdrawals You reduce Your Contract Value to less than the Minimum Contract Value Allowed, Your Contract will automatically terminate and We will payout any remaining Cash Surrender Value.

 

INDEX CREDITS are added to the Indexed Value Options on the Contract Anniversary and are calculated as follows:

 

Annual Point to Point Index Credits -

 

(1)                                The Index Price on the current Contract Anniversary; less

(2)                                The Index Price on the last Anniversary;* divided by

(3)                                The Index Price on the last Anniversary;*

(4)                                Result not to exceed Cap; multiplied by

(5)                                The value of the Annual Point to Point Value Option on the last Anniversary;** less any Withdrawal Amounts during the last Contract Year.

 

Monthly Point to Point Index Credits -

 

(1)                                The value of the MPT Value Option on the last Anniversary;** less

(2)                                Any Withdrawal Amounts during the last Contract Year; multiplied by

(3)                                The MPT Sum.

 

MPT Sum: The MPT Sum is the sum of the twelve MPT Ratios during each Contract Year.

 

MPT Ratios:

 

·                  Index Price on each monthly Index Date; less

·                  The Index Price on the first preceding monthly Index Date;* divided by

·                  The Index Price on first preceding monthly Index Date;* (result not to exceed MPT Cap).

 

* When calculating an Index Credit for the first Anniversary (or for the first month on the Monthly Point to Point Indexed Value Option) use the applicable Index Price on the Contract Date.

 

**When calculating Values on the first Anniversary or during the first Contract Year (or for the first month or during the first month on the Monthly Point to Point Indexed Value Option), use the Value on the Contract Date.

 

Each Index Credit will never be less than zero (0).

 

11

 

CONTRACT PROCEEDS AND PAY-OUT PROVISIONS

 

MINIMUM BENEFITS

 

Any Proceed Pay-outs available under this Contract are at least the minimum required by the laws of the delivery state.

 

PREMIUM TAXES

 

If We are required to pay premium taxes, We re-calculate Your Proceeds at pay-out as if We had deducted premium taxes from Your Premiums as We received them.

 

PROCEEDS

 

Proceeds means the amount payable when: You take a Withdrawal; You Surrender this Contract; The Annuitant or Owner dies; or The Contract matures.

 

PAYMENT OF PROCEEDS

 

We pay Proceeds under the Automatic Settlement Option, unless You or Your Beneficiary elect to apply all or part of Death or Maturity Proceeds to provide payments under another Settlement Option or in a lump sum. We pay Death Proceeds to the Beneficiary on receipt of due proof of Death. We always pay Withdrawal and Surrender Proceeds in one sum unless You choose the Annuitization Option below. If pay-out is not immediate, We credit Interest on the Proceeds from the date of Withdrawal, Surrender, Maturity, or Death until pay-out. We add this Interest to the Proceeds and pay the greater of:

 

(1)                                The current rate of Interest We declare; or

(2)                                Any minimum rate required by the laws of the delivery state.

 

If mandated under applicable law, We may block an Owner’s account and refuse to process any request for Transfer, Withdrawal, Surrender or Death Proceeds until We receive instructions from the appropriate regulator.

 

ADJUSTMENT OF BENEFIT VALUES

 

If We find an error in the stated Age or sex of any Payee after making payments under a Settlement Option, We adjust the benefits to those that the Values of this Contract would have purchased using the correct Age and sex. If We find an error and We have made income payments, We:

 

(1)                                Pay the amount of any under-payments, plus 6% Interest, compounded annually; or

(2)                                Charge the amount of any over-payments, plus 6% Interest, compounded annually, against the next income payments.

 

ANNUITIZATION OPTION

 

You may annuitize Your Surrender Proceeds under this Contract after the first Contract Year for a life option with at least 5 years certain.

 

MATURITY PAY-OUT PROVISIONS

 

MATURITY BENEFIT

 

If the Contract is in force on the Maturity Date, We pay the Maturity Proceeds to the Annuitant as described in Payment of Proceeds section. The Maturity Proceeds equal the greater of the Contract Value or the Minimum Guaranteed Surrender Value on the Maturity Date. We may change the mode of payment under a Settlement Option so each payment is at least $50.00.

 

Maturity benefits will not be less than those that would be provided by application of the Cash Surrender Value to purchase a single premium immediate annuity at purchase rates available at the time to the same class of Annuitants.

 

12

 

WITHDRAWAL AND SURRENDER PAY-OUT PROVISIONS

 

DEFERRAL OF PAYMENT

 

We may defer payment of any Surrender Proceeds for up to six months from the date You Notify Us, only after We receive written approval of deferral from the Commissioner of Insurance, and pay interest on the Proceeds as described in the Payment of Proceeds section.

 

WITHDRAWALS

 

Withdrawal Amount is the amount We deduct from Your Contract Value to provide the Withdrawal Proceeds and does not include any Surrender Charges or MVA adjustments. Withdrawal Proceeds include amounts withdrawn under both the Penalty-free Withdrawal and Partial Withdrawal Options as follows and are the actual amounts We pay to the Contract Owner after application of any applicable Surrender Charge and MVA adjustment:

 

(1)                                Penalty-free Withdrawal Option

Each Contract Year, after the first, You may take one Penalty-free Withdrawal of up to 10% of Your Contract Value. We determine the amount of Penalty-free Withdrawal Proceeds payable at the time of Withdrawal. Penalty-free Withdrawal Proceeds equal the Penalty-free Withdrawal amount You request. No MVA or Surrender Charges apply to Penalty-free Withdrawals. All Withdrawals taken after the end of the Surrender Charge Period are Penalty-free.

(2)                                Partial Withdrawal Option

You may make Partial Withdrawals at any time subject to Surrender Charges, MVA, and Minimum Values. We apply MVA and applicable Surrender Charges to:

a.               Amounts withdrawn in the first Contract Year;

b.              Amounts withdrawn in excess of the Penalty-free Withdrawal Option amount during the Surrender Charge Period; and

c.               Any Withdrawals taken after taking a Penalty-free Withdrawal in any Contract Year during the Surrender Charge Period.

 

We calculate MVAs and Surrender Charges as described on Pages 8 & 9, pay You the Withdrawal Proceeds, and adjust Your Values as described in Contract Values Provisions.

 

We deduct Withdrawals first from Your Fixed Value Option, then proportionally from Your Indexed Value Option (s) until We reach the amount You requested. We process Penalty-free Withdrawals before Partial Withdrawals. For example, if You request a Withdrawal in excess of the Penalty-free Withdrawal amount, the Penalty-free Withdrawal Option provision applies to the Penalty-free Withdrawal amount with no Surrender Charge or MVA, and the remaining amount falls under the Partial Withdrawal Option provision, and is affected by any applicable Surrender Charges and MVA. Some Limitations may apply, see Limitations section below.

 

SURRENDER

 

If You Surrender this Contract, We pay You the Surrender Proceeds in a single sum or under the Annuitization Option. Surrender Proceeds equal the Cash Surrender Value on the date of Surrender.

 

LIMITATIONS

 

(1)                                  No portion of a Surrender taken during the Surrender Charge Period can be Penalty-free.

 

(2)                                  We treat any Penalty-free Withdrawal You take within the 12 months before Surrender as having been made in anticipation of Surrender. Therefore, We apply a Surrender Charge and any applicable MVA to that amount at Surrender.

 

(3)                                  You must maintain Minimum Values, as described on Page 11.

 

13

 

DEATH PAY-OUT PROVISIONS

 

DEATH BENEFIT

 

We will pay the death proceeds of this Contract to the beneficiary(ies) upon receipt of due proof of death. Payment is subject to the provisions, terms and conditions of this Contract.

 

Annuitant’s Death -The Death Benefit Proceeds payable equal the greater of Contract Value or the Minimum Guaranteed Surrender Value on the Annuitant’s date of death in the case of a non-natural Owner.

 

Owner’s Death - The Death Benefit Proceeds payable equal the greater of the Contract Value or the Minimum Guaranteed Surrender Value on the Owner’s date of death.

 

If any Owner, or Annuitant in the case of a non-natural Owner, dies before the Maturity Date, We pay Death Proceeds to the Owner’s Beneficiary. If You did not choose a Settlement Option, the Beneficiary may make a selection within 60 days of Our receiving proof of death.

 

We pay out the entire Death Benefit Proceeds in a lump sum unless:

 

(1)                                It is payable to the Beneficiary over a 5 year period. Entire Death Benefit Proceeds must be paid within 5 years;

(2)                                It is payable over the lifetime, or life expectancy, of a designated Beneficiary. Payment must begin within one year of the date of death; or

(3)                                The designated Beneficiary is the Owner’s spouse and he or she continues the Contract in his or her name as new Owner.

 

Death after Maturity Date - If any Owner or the Annuitant dies after the Maturity Date and before the payment of the entire Maturity Proceeds, We pay any remaining balance as provided for in the Settlement Option selected, at least as rapidly as under the method of payment in effect at the Annuitant’s death.

 

Note: We pay Death Benefit Proceeds once, at death of the first to die of either an Owner or Annuitant. 

 

INTEREST ON DEATH BENEFIT

 

We pay Interest on the Death Proceeds as described in Payment of Proceeds section.

 

BENEFICIARY

 

You named the Beneficiary in the Application. While the Annuitant is alive You may change the Beneficiary by Notifying Us. A change will take effect on the date We receive Notice. Any change is subject to payment or other action We take before receiving Notice.

 

Unless You Notify Us otherwise, these rules apply:

 

(1)                                If You name more than one Beneficiary, and any one Beneficiary dies before the Annuitant, We pay the Death Benefit Proceeds to any surviving Beneficiary(ies).

(2)                                If any Beneficiary dies within 30 days after the Annuitant dies and We receive Notice of the Death before We pay the Death Benefit Proceeds, We pay it as if the Beneficiary died before the Annuitant.

(3)                                If You have not named a Beneficiary when the Annuitant dies, We pay the Death Benefit Proceeds to the Annuitant’s estate.

(4)                                If no named Beneficiary is alive when the Annuitant dies, We pay the Death Benefit Proceeds to the Annuitant’s estate.

(5)                                We pay equal amounts when more than one Beneficiary is to share the Death Benefit Proceeds.

(6)                                When You do not state Beneficiaries by name (such as “children”), We may find who they are from sworn statements and not wait for court records. The word “child” means only a child born to, or adopted by, the Annuitant, it does not mean grandchild or stepchild.

 

14

 

SETTLEMENT OPTION PAY-OUT PROVISIONS

 

These are the guaranteed Pay-out options from which to choose at Maturity or Death of an Owner or Annuitant where there is a non-natural Owner. You may also choose any other Settlement Option We currently offer by Notifying Us. All Settlement Options are for a minimum of 5 years. We pay interest on the Proceeds as described in the Payment of Proceeds section.

 

OPTION 1 - INCOME FOR SPECIFIED PERIOD

 

We pay an income for a specific number of years in equal installments. We guarantee these payments to be at least those shown in Table 1.

 

OPTION 2 - LIFE INCOME

 

We pay equal monthly payments for a specified period certain and then for life. We guarantee these payments will be at least those shown in Table 2.

 

OPTION 3 - INCOME OF SPECIFIED AMOUNT

 

We pay income of the specified amount until the principal and interest are exhausted.

 

OPTION 4 - JOINT AND SURVIVOR INCOME

 

We pay equal monthly payments during the joint lifetime of the Annuitant and the named Beneficiary/Payee. We determine the payment by the Age and sex of each person from Table 3. The Annuitant must be at least 50 years old, and the Beneficiary/Payee must be at least 45 years old, at the time of the first monthly payment.

 

AUTOMATIC SETTLEMENT OPTION

 

The Automatic Settlement Option is life income with five years certain unless otherwise provided under the Internal Revenue Code. If You do not select a Settlement Option within 60 days of Maturity, the Automatic Settlement Option will take effect.

 

INTEREST ON SETTLEMENT OPTIONS

 

We pay at least the minimum rate required by the state of delivery.

 

EXCESS INTEREST

 

Excess Interest is the difference between Our current rates and the minimum rate required. We determine Excess Interest, if any, on Settlement Option amounts. We pay this excess under Option 1, 2, or 4 and add it to the period of payment under Option 3.

 

SUPPLEMENTARY CONTRACT

 

When We receive Notice requesting a Settlement Option, We issue a Supplementary Contract in exchange for this Contract, stating the terms under which We make payments. The Supplementary Contract states to whom We pay any remaining Proceeds if the Payee dies. Once a Supplementary Contract is in effect the method of pay-out cannot be changed and the contract cannot be commuted or assigned.

 

If any Owner of the Supplementary Contract dies before payments are complete, We pay any remaining balance at least as rapidly as under the method of payment in effect on the Owner’s date of death; provided however, that if the Owner is not an individual, then the Annuitant is deemed the Owner for purposes of this requirement.

 

15

 

TABLE 1

 

INCOME FOR SPECIFIED PERIOD FACTORS

 

	
NO. OF YEARS
    	
 
    	
MONTHLY
    	
 
    	
NO. OF YEARS
    	
 
    	
MONTHLY
    	
 
    
	
PAYABLE
    	
 
    	
INSTALLMENTS*
    	
 
    	
PAYABLE
    	
 
    	
INSTALLMENTS*
    	
 
    
	
1
    	
 
    	
N/A
    	
 
    	
11
    	
 
    	
8.42
    	
 
    
	
2
    	
 
    	
N/A
    	
 
    	
12
    	
 
    	
7.80
    	
 
    
	
3
    	
 
    	
N/A
    	
 
    	
13
    	
 
    	
7.26
    	
 
    
	
4
    	
 
    	
N/A
    	
 
    	
14
    	
 
    	
6.81
    	
 
    
	
5
    	
 
    	
17.49
    	
 
    	
15
    	
 
    	
6.42
    	
 
    
	
6
    	
 
    	
14.72
    	
 
    	
16
    	
 
    	
6.07
    	
 
    
	
7
    	
 
    	
12.74
    	
 
    	
17
    	
 
    	
5.77
    	
 
    
	
8
    	
 
    	
11.25
    	
 
    	
18
    	
 
    	
5.50
    	
 
    
	
9
    	
 
    	
10.10
    	
 
    	
19
    	
 
    	
5.26
    	
 
    
	
10
    	
 
    	
9.18
    	
 
    	
20
    	
 
    	
5.04
    	
 
    

 

* Monthly installments shown are for each $1,000 of net Proceeds applied at 2% Interest, which is subject to change as described on Page 15, Interest On Settlement Options.

 

16

 

TABLE 2

 

LIFE INCOME WITH SPECIFIED PERIOD CERTAIN FACTORS

 

	
 
    	
 
    	
 
    	
 
    	
120
    	
 
    	
240
    	
 
    
	
 
    	
 
    	
Life Only
    	
 
    	
Months Certain
    	
 
    	
Months Certain
    	
 
    
	
Age
    	
 
    	
Male
    	
 
    	
Female
    	
 
    	
Male
    	
 
    	
Female
    	
 
    	
Male
    	
 
    	
Female
    	
 
    
	
15
    	
 
    	
$
    	
2.28
    	
 
    	
$
    	
2.21
    	
 
    	
$
    	
2.28
    	
 
    	
$
    	
2.21
    	
 
    	
$
    	
2.28
    	
 
    	
$
    	
2.21
    	
 
    
	
16
    	
 
    	
$
    	
2.30
    	
 
    	
$
    	
2.23
    	
 
    	
$
    	
2.30
    	
 
    	
$
    	
2.23
    	
 
    	
$
    	
2.30
    	
 
    	
$
    	
2.23
    	
 
    
	
17
    	
 
    	
$
    	
2.32
    	
 
    	
$
    	
2.24
    	
 
    	
$
    	
2.32
    	
 
    	
$
    	
2.24
    	
 
    	
$
    	
2.31
    	
 
    	
$
    	
2.24
    	
 
    
	
18
    	
 
    	
$
    	
2.34
    	
 
    	
$
    	
2.26
    	
 
    	
$
    	
2.34
    	
 
    	
$
    	
2.26
    	
 
    	
$
    	
2.33
    	
 
    	
$
    	
2.26
    	
 
    
	
19
    	
 
    	
$
    	
2.36
    	
 
    	
$
    	
2.28
    	
 
    	
$
    	
2.35
    	
 
    	
$
    	
2.28
    	
 
    	
$
    	
2.35
    	
 
    	
$
    	
2.27
    	
 
    
	
20
    	
 
    	
$
    	
2.37
    	
 
    	
$
    	
2.29
    	
 
    	
$
    	
2.37
    	
 
    	
$
    	
2.29
    	
 
    	
$
    	
2.37
    	
 
    	
$
    	
2.29
    	
 
    
	
21
    	
 
    	
$
    	
2.39
    	
 
    	
$
    	
2.31
    	
 
    	
$
    	
2.39
    	
 
    	
$
    	
2.31
    	
 
    	
$
    	
2.39
    	
 
    	
$
    	
2.31
    	
 
    
	
22
    	
 
    	
$
    	
2.41
    	
 
    	
$
    	
2.33
    	
 
    	
$
    	
2.41
    	
 
    	
$
    	
2.33
    	
 
    	
$
    	
2.41
    	
 
    	
$
    	
2.33
    	
 
    
	
23
    	
 
    	
$
    	
2.44
    	
 
    	
$
    	
2.35
    	
 
    	
$
    	
2.43
    	
 
    	
$
    	
2.35
    	
 
    	
$
    	
2.43
    	
 
    	
$
    	
2.34
    	
 
    
	
24
    	
 
    	
$
    	
2.46
    	
 
    	
$
    	
2.37
    	
 
    	
$
    	
2.46
    	
 
    	
$
    	
2.37
    	
 
    	
$
    	
2.45
    	
 
    	
$
    	
2.36
    	
 
    
	
25
    	
 
    	
$
    	
2.48
    	
 
    	
$
    	
2.39
    	
 
    	
$
    	
2.48
    	
 
    	
$
    	
2.39
    	
 
    	
$
    	
2.47
    	
 
    	
$
    	
2.38
    	
 
    
	
26
    	
 
    	
$
    	
2.50
    	
 
    	
$
    	
2.41
    	
 
    	
$
    	
2.50
    	
 
    	
$
    	
2.41
    	
 
    	
$
    	
2.50
    	
 
    	
$
    	
2.40
    	
 
    
	
27
    	
 
    	
$
    	
2.53
    	
 
    	
$
    	
2.43
    	
 
    	
$
    	
2.53
    	
 
    	
$
    	
2.43
    	
 
    	
$
    	
2.52
    	
 
    	
$
    	
2.42
    	
 
    
	
28
    	
 
    	
$
    	
2.56
    	
 
    	
$
    	
2.45
    	
 
    	
$
    	
2.55
    	
 
    	
$
    	
2.45
    	
 
    	
$
    	
2.55
    	
 
    	
$
    	
2.45
    	
 
    
	
29
    	
 
    	
$
    	
2.58
    	
 
    	
$
    	
2.48
    	
 
    	
$
    	
2.58
    	
 
    	
$
    	
2.47
    	
 
    	
$
    	
2.57
    	
 
    	
$
    	
2.47
    	
 
    
	
30
    	
 
    	
$
    	
2.61
    	
 
    	
$
    	
2.50
    	
 
    	
$
    	
2.61
    	
 
    	
$
    	
2.50
    	
 
    	
$
    	
2.60
    	
 
    	
$
    	
2.49
    	
 
    
	
31
    	
 
    	
$
    	
2.64
    	
 
    	
$
    	
2.52
    	
 
    	
$
    	
2.64
    	
 
    	
$
    	
2.52
    	
 
    	
$
    	
2.63
    	
 
    	
$
    	
2.52
    	
 
    
	
32
    	
 
    	
$
    	
2.67
    	
 
    	
$
    	
2.55
    	
 
    	
$
    	
2.67
    	
 
    	
$
    	
2.55
    	
 
    	
$
    	
2.66
    	
 
    	
$
    	
2.54
    	
 
    
	
33
    	
 
    	
$
    	
2.70
    	
 
    	
$
    	
2.58
    	
 
    	
$
    	
2.70
    	
 
    	
$
    	
2.58
    	
 
    	
$
    	
2.69
    	
 
    	
$
    	
2.57
    	
 
    
	
34
    	
 
    	
$
    	
2.73
    	
 
    	
$
    	
2.61
    	
 
    	
$
    	
2.73
    	
 
    	
$
    	
2.60
    	
 
    	
$
    	
2.72
    	
 
    	
$
    	
2.60
    	
 
    
	
35
    	
 
    	
$
    	
2.77
    	
 
    	
$
    	
2.63
    	
 
    	
$
    	
2.76
    	
 
    	
$
    	
2.63
    	
 
    	
$
    	
2.75
    	
 
    	
$
    	
2.63
    	
 
    
	
36
    	
 
    	
$
    	
2.80
    	
 
    	
$
    	
2.67
    	
 
    	
$
    	
2.80
    	
 
    	
$
    	
2.66
    	
 
    	
$
    	
2.78
    	
 
    	
$
    	
2.65
    	
 
    
	
37
    	
 
    	
$
    	
2.84
    	
 
    	
$
    	
2.70
    	
 
    	
$
    	
2.84
    	
 
    	
$
    	
2.70
    	
 
    	
$
    	
2.82
    	
 
    	
$
    	
2.69
    	
 
    
	
38
    	
 
    	
$
    	
2.88
    	
 
    	
$
    	
2.73
    	
 
    	
$
    	
2.88
    	
 
    	
$
    	
2.73
    	
 
    	
$
    	
2.85
    	
 
    	
$
    	
2.72
    	
 
    
	
39
    	
 
    	
$
    	
2.92
    	
 
    	
$
    	
2.77
    	
 
    	
$
    	
2.92
    	
 
    	
$
    	
2.76
    	
 
    	
$
    	
2.89
    	
 
    	
$
    	
2.75
    	
 
    
	
40
    	
 
    	
$
    	
2.97
    	
 
    	
$
    	
2.80
    	
 
    	
$
    	
2.96
    	
 
    	
$
    	
2.80
    	
 
    	
$
    	
2.93
    	
 
    	
$
    	
2.79
    	
 
    
	
41
    	
 
    	
$
    	
3.01
    	
 
    	
$
    	
2.84
    	
 
    	
$
    	
3.00
    	
 
    	
$
    	
2.84
    	
 
    	
$
    	
2.97
    	
 
    	
$
    	
2.82
    	
 
    
	
42
    	
 
    	
$
    	
3.06
    	
 
    	
$
    	
2.88
    	
 
    	
$
    	
3.05
    	
 
    	
$
    	
2.88
    	
 
    	
$
    	
3.01
    	
 
    	
$
    	
2.86
    	
 
    
	
43
    	
 
    	
$
    	
3.11
    	
 
    	
$
    	
2.92
    	
 
    	
$
    	
3.10
    	
 
    	
$
    	
2.92
    	
 
    	
$
    	
3.06
    	
 
    	
$
    	
2.90
    	
 
    
	
44
    	
 
    	
$
    	
3.16
    	
 
    	
$
    	
2.96
    	
 
    	
$
    	
3.15
    	
 
    	
$
    	
2.96
    	
 
    	
$
    	
3.10
    	
 
    	
$
    	
2.94
    	
 
    
	
45
    	
 
    	
$
    	
3.21
    	
 
    	
$
    	
3.01
    	
 
    	
$
    	
3.20
    	
 
    	
$
    	
3.00
    	
 
    	
$
    	
3.15
    	
 
    	
$
    	
2.98
    	
 
    
	
46
    	
 
    	
$
    	
3.27
    	
 
    	
$
    	
3.06
    	
 
    	
$
    	
3.25
    	
 
    	
$
    	
3.05
    	
 
    	
$
    	
3.20
    	
 
    	
$
    	
3.02
    	
 
    
	
47
    	
 
    	
$
    	
3.33
    	
 
    	
$
    	
3.11
    	
 
    	
$
    	
3.31
    	
 
    	
$
    	
3.10
    	
 
    	
$
    	
3.25
    	
 
    	
$
    	
3.07
    	
 
    
	
48
    	
 
    	
$
    	
3.39
    	
 
    	
$
    	
3.16
    	
 
    	
$
    	
3.37
    	
 
    	
$
    	
3.15
    	
 
    	
$
    	
3.30
    	
 
    	
$
    	
3.12
    	
 
    
	
49
    	
 
    	
$
    	
3.45
    	
 
    	
$
    	
3.21
    	
 
    	
$
    	
3.43
    	
 
    	
$
    	
3.20
    	
 
    	
$
    	
3.35
    	
 
    	
$
    	
3.16
    	
 
    
	
50
    	
 
    	
$
    	
3.52
    	
 
    	
$
    	
3.27
    	
 
    	
$
    	
3.50
    	
 
    	
$
    	
3.26
    	
 
    	
$
    	
3.41
    	
 
    	
$
    	
3.22
    	
 
    
	
51
    	
 
    	
$
    	
3.59
    	
 
    	
$
    	
3.33
    	
 
    	
$
    	
3.56
    	
 
    	
$
    	
3.32
    	
 
    	
$
    	
3.47
    	
 
    	
$
    	
3.27
    	
 
    
	
52
    	
 
    	
$
    	
3.67
    	
 
    	
$
    	
3.40
    	
 
    	
$
    	
3.63
    	
 
    	
$
    	
3.38
    	
 
    	
$
    	
3.52
    	
 
    	
$
    	
3.32
    	
 
    
	
53
    	
 
    	
$
    	
3.74
    	
 
    	
$
    	
3.46
    	
 
    	
$
    	
3.71
    	
 
    	
$
    	
3.45
    	
 
    	
$
    	
3.59
    	
 
    	
$
    	
3.38
    	
 
    
	
54
    	
 
    	
$
    	
3.83
    	
 
    	
$
    	
3.53
    	
 
    	
$
    	
3.79
    	
 
    	
$
    	
3.51
    	
 
    	
$
    	
3.65
    	
 
    	
$
    	
3.44
    	
 
    
	
55
    	
 
    	
$
    	
3.91
    	
 
    	
$
    	
3.61
    	
 
    	
$
    	
3.87
    	
 
    	
$
    	
3.59
    	
 
    	
$
    	
3.71
    	
 
    	
$
    	
3.50
    	
 
    
	
56
    	
 
    	
$
    	
4.01
    	
 
    	
$
    	
3.69
    	
 
    	
$
    	
3.96
    	
 
    	
$
    	
3.66
    	
 
    	
$
    	
3.78
    	
 
    	
$
    	
3.56
    	
 
    
	
57
    	
 
    	
$
    	
4.10
    	
 
    	
$
    	
3.77
    	
 
    	
$
    	
4.05
    	
 
    	
$
    	
3.74
    	
 
    	
$
    	
3.84
    	
 
    	
$
    	
3.63
    	
 
    
	
58
    	
 
    	
$
    	
4.21
    	
 
    	
$
    	
3.86
    	
 
    	
$
    	
4.14
    	
 
    	
$
    	
3.82
    	
 
    	
$
    	
3.91
    	
 
    	
$
    	
3.70
    	
 
    
	
59
    	
 
    	
$
    	
4.32
    	
 
    	
$
    	
3.95
    	
 
    	
$
    	
4.24
    	
 
    	
$
    	
3.91
    	
 
    	
$
    	
3.98
    	
 
    	
$
    	
3.77
    	
 
    
	
60
    	
 
    	
$
    	
4.43
    	
 
    	
$
    	
4.05
    	
 
    	
$
    	
4.35
    	
 
    	
$
    	
4.01
    	
 
    	
$
    	
4.05
    	
 
    	
$
    	
3.84
    	
 
    
	
61
    	
 
    	
$
    	
4.56
    	
 
    	
$
    	
4.15
    	
 
    	
$
    	
4.46
    	
 
    	
$
    	
4.10
    	
 
    	
$
    	
4.12
    	
 
    	
$
    	
3.91
    	
 
    
	
62
    	
 
    	
$
    	
4.69
    	
 
    	
$
    	
4.27
    	
 
    	
$
    	
4.58
    	
 
    	
$
    	
4.21
    	
 
    	
$
    	
4.19
    	
 
    	
$
    	
3.98
    	
 
    
	
63
    	
 
    	
$
    	
4.83
    	
 
    	
$
    	
4.39
    	
 
    	
$
    	
4.70
    	
 
    	
$
    	
4.32
    	
 
    	
$
    	
4.25
    	
 
    	
$
    	
4.06
    	
 
    
	
64
    	
 
    	
$
    	
4.98
    	
 
    	
$
    	
4.51
    	
 
    	
$
    	
4.83
    	
 
    	
$
    	
4.43
    	
 
    	
$
    	
4.32
    	
 
    	
$
    	
4.13
    	
 
    
	
65
    	
 
    	
$
    	
5.14
    	
 
    	
$
    	
4.65
    	
 
    	
$
    	
4.96
    	
 
    	
$
    	
4.55
    	
 
    	
$
    	
4.39
    	
 
    	
$
    	
4.21
    	
 
    
	
66
    	
 
    	
$
    	
5.32
    	
 
    	
$
    	
4.79
    	
 
    	
$
    	
5.10
    	
 
    	
$
    	
4.68
    	
 
    	
$
    	
4.45
    	
 
    	
$
    	
4.29
    	
 
    
	
67
    	
 
    	
$
    	
5.50
    	
 
    	
$
    	
4.95
    	
 
    	
$
    	
5.25
    	
 
    	
$
    	
4.82
    	
 
    	
$
    	
4.51
    	
 
    	
$
    	
4.36
    	
 
    
	
68
    	
 
    	
$
    	
5.70
    	
 
    	
$
    	
5.11
    	
 
    	
$
    	
5.40
    	
 
    	
$
    	
4.96
    	
 
    	
$
    	
4.57
    	
 
    	
$
    	
4.43
    	
 
    
	
69
    	
 
    	
$
    	
5.91
    	
 
    	
$
    	
5.29
    	
 
    	
$
    	
5.56
    	
 
    	
$
    	
5.11
    	
 
    	
$
    	
4.63
    	
 
    	
$
    	
4.50
    	
 
    
	
70
    	
 
    	
$
    	
6.13
    	
 
    	
$
    	
5.48
    	
 
    	
$
    	
5.72
    	
 
    	
$
    	
5.27
    	
 
    	
$
    	
4.68
    	
 
    	
$
    	
4.57
    	
 
    
	
71
    	
 
    	
$
    	
6.37
    	
 
    	
$
    	
5.69
    	
 
    	
$
    	
5.89
    	
 
    	
$
    	
5.44
    	
 
    	
$
    	
4.73
    	
 
    	
$
    	
4.63
    	
 
    
	
72
    	
 
    	
$
    	
6.62
    	
 
    	
$
    	
5.91
    	
 
    	
$
    	
6.06
    	
 
    	
$
    	
5.61
    	
 
    	
$
    	
4.78
    	
 
    	
$
    	
4.69
    	
 
    
	
73
    	
 
    	
$
    	
6.89
    	
 
    	
$
    	
6.16
    	
 
    	
$
    	
6.24
    	
 
    	
$
    	
5.80
    	
 
    	
$
    	
4.82
    	
 
    	
$
    	
4.74
    	
 
    
	
74
    	
 
    	
$
    	
7.18
    	
 
    	
$
    	
6.42
    	
 
    	
$
    	
6.41
    	
 
    	
$
    	
5.98
    	
 
    	
$
    	
4.85
    	
 
    	
$
    	
4.79
    	
 
    
	
75
    	
 
    	
$
    	
7.49
    	
 
    	
$
    	
6.70
    	
 
    	
$
    	
6.59
    	
 
    	
$
    	
6.18
    	
 
    	
$
    	
4.89
    	
 
    	
$
    	
4.83
    	
 
    
	
76
    	
 
    	
$
    	
7.82
    	
 
    	
$
    	
7.01
    	
 
    	
$
    	
6.78
    	
 
    	
$
    	
6.38
    	
 
    	
$
    	
4.91
    	
 
    	
$
    	
4.87
    	
 
    
	
77
    	
 
    	
$
    	
8.17
    	
 
    	
$
    	
7.34
    	
 
    	
$
    	
6.96
    	
 
    	
$
    	
6.58
    	
 
    	
$
    	
4.94
    	
 
    	
$
    	
4.90
    	
 
    
	
78
    	
 
    	
$
    	
8.55
    	
 
    	
$
    	
7.70
    	
 
    	
$
    	
7.14
    	
 
    	
$
    	
6.79
    	
 
    	
$
    	
4.96
    	
 
    	
$
    	
4.93
    	
 
    
	
79
    	
 
    	
$
    	
8.96
    	
 
    	
$
    	
8.09
    	
 
    	
$
    	
7.31
    	
 
    	
$
    	
6.99
    	
 
    	
$
    	
4.98
    	
 
    	
$
    	
4.96
    	
 
    
	
80
    	
 
    	
$
    	
9.39
    	
 
    	
$
    	
8.51
    	
 
    	
$
    	
7.49
    	
 
    	
$
    	
7.20
    	
 
    	
$
    	
4.99
    	
 
    	
$
    	
4.98
    	
 
    
	
81
    	
 
    	
$
    	
9.86
    	
 
    	
$
    	
8.97
    	
 
    	
$
    	
7.65
    	
 
    	
$
    	
7.40
    	
 
    	
$
    	
5.00
    	
 
    	
$
    	
4.99
    	
 
    
	
82
    	
 
    	
$
    	
10.36
    	
 
    	
$
    	
9.46
    	
 
    	
$
    	
7.81
    	
 
    	
$
    	
7.59
    	
 
    	
$
    	
5.01
    	
 
    	
$
    	
5.01
    	
 
    
	
83
    	
 
    	
$
    	
10.89
    	
 
    	
$
    	
10.00
    	
 
    	
$
    	
7.97
    	
 
    	
$
    	
7.78
    	
 
    	
$
    	
5.02
    	
 
    	
$
    	
5.02
    	
 
    
	
84
    	
 
    	
$
    	
11.46
    	
 
    	
$
    	
10.59
    	
 
    	
$
    	
8.11
    	
 
    	
$
    	
7.95
    	
 
    	
$
    	
5.03
    	
 
    	
$
    	
5.02
    	
 
    
	
85
    	
 
    	
$
    	
12.06
    	
 
    	
$
    	
11.22
    	
 
    	
$
    	
8.25
    	
 
    	
$
    	
8.11
    	
 
    	
$
    	
5.03
    	
 
    	
$
    	
5.03
    	
 
    
	
86
    	
 
    	
$
    	
12.71
    	
 
    	
$
    	
11.90
    	
 
    	
$
    	
8.37
    	
 
    	
$
    	
8.26
    	
 
    	
$
    	
5.04
    	
 
    	
$
    	
5.03
    	
 
    
	
87
    	
 
    	
$
    	
13.40
    	
 
    	
$
    	
12.63
    	
 
    	
$
    	
8.49
    	
 
    	
$
    	
8.39
    	
 
    	
$
    	
5.04
    	
 
    	
$
    	
5.04
    	
 
    
	
88
    	
 
    	
$
    	
14.14
    	
 
    	
$
    	
13.41
    	
 
    	
$
    	
8.59
    	
 
    	
$
    	
8.51
    	
 
    	
$
    	
5.04
    	
 
    	
$
    	
5.04
    	
 
    
	
89
    	
 
    	
$
    	
14.92
    	
 
    	
$
    	
14.23
    	
 
    	
$
    	
8.68
    	
 
    	
$
    	
8.62
    	
 
    	
$
    	
5.04
    	
 
    	
$
    	
5.04
    	
 
    
	
90
    	
 
    	
$
    	
15.75
    	
 
    	
$
    	
15.11
    	
 
    	
$
    	
8.77
    	
 
    	
$
    	
8.71
    	
 
    	
$
    	
5.04
    	
 
    	
$
    	
5.04
    	
 
    
	
91
    	
 
    	
$
    	
16.63
    	
 
    	
$
    	
16.02
    	
 
    	
$
    	
8.84
    	
 
    	
$
    	
8.80
    	
 
    	
$
    	
5.04
    	
 
    	
$
    	
5.04
    	
 
    
	
92
    	
 
    	
$
    	
17.57
    	
 
    	
$
    	
16.97
    	
 
    	
$
    	
8.91
    	
 
    	
$
    	
8.87
    	
 
    	
$
    	
5.04
    	
 
    	
$
    	
5.04
    	
 
    
	
93
    	
 
    	
$
    	
18.56
    	
 
    	
$
    	
17.97
    	
 
    	
$
    	
8.97
    	
 
    	
$
    	
8.93
    	
 
    	
$
    	
5.04
    	
 
    	
$
    	
5.04
    	
 
    
	
94
    	
 
    	
$
    	
19.63
    	
 
    	
$
    	
19.01
    	
 
    	
$
    	
9.02
    	
 
    	
$
    	
8.99
    	
 
    	
$
    	
5.04
    	
 
    	
$
    	
5.04
    	
 
    
	
95
    	
 
    	
$
    	
20.77
    	
 
    	
$
    	
20.10
    	
 
    	
$
    	
9.06
    	
 
    	
$
    	
9.04
    	
 
    	
$
    	
5.04
    	
 
    	
$
    	
5.04
    	
 
    
	
96
    	
 
    	
$
    	
22.01
    	
 
    	
$
    	
21.26
    	
 
    	
$
    	
9.10
    	
 
    	
$
    	
9.04
    	
 
    	
$
    	
5.04
    	
 
    	
$
    	
5.04
    	
 
    
	
97
    	
 
    	
$
    	
23.37
    	
 
    	
$
    	
22.50
    	
 
    	
$
    	
9.12
    	
 
    	
$
    	
9.11
    	
 
    	
$
    	
5.04
    	
 
    	
$
    	
5.04
    	
 
    
	
98
    	
 
    	
$
    	
24.88
    	
 
    	
$
    	
23.88
    	
 
    	
$
    	
9.14
    	
 
    	
$
    	
9.13
    	
 
    	
$
    	
5.04
    	
 
    	
$
    	
5.04
    	
 
    
	
99
    	
 
    	
$
    	
26.60
    	
 
    	
$
    	
25.43
    	
 
    	
$
    	
9.16
    	
 
    	
$
    	
9.15
    	
 
    	
$
    	
5.04
    	
 
    	
$
    	
5.04
    	
 
    
	
100
    	
 
    	
$
    	
28.57
    	
 
    	
$
    	
27.21
    	
 
    	
$
    	
9.17
    	
 
    	
$
    	
9.16
    	
 
    	
$
    	
5.04
    	
 
    	
$
    	
5.04
    	
 
    
	
101
    	
 
    	
$
    	
30.84
    	
 
    	
$
    	
29.28
    	
 
    	
$
    	
9.17
    	
 
    	
$
    	
9.17
    	
 
    	
$
    	
5.04
    	
 
    	
$
    	
5.04
    	
 
    
	
102
    	
 
    	
$
    	
33.48
    	
 
    	
$
    	
31.70
    	
 
    	
$
    	
9.18
    	
 
    	
$
    	
9.18
    	
 
    	
$
    	
5.04
    	
 
    	
$
    	
5.04
    	
 
    
	
103
    	
 
    	
$
    	
36.57
    	
 
    	
$
    	
34.56
    	
 
    	
$
    	
9.18
    	
 
    	
$
    	
9.18
    	
 
    	
$
    	
5.04
    	
 
    	
$
    	
5.04
    	
 
    
	
104
    	
 
    	
$
    	
40.20
    	
 
    	
$
    	
37.96
    	
 
    	
$
    	
9.18
    	
 
    	
$
    	
9.18
    	
 
    	
$
    	
5.04
    	
 
    	
$
    	
5.04
    	
 
    
	
105
    	
 
    	
$
    	
44.50
    	
 
    	
$
    	
42.00
    	
 
    	
$
    	
9.18
    	
 
    	
$
    	
9.18
    	
 
    	
$
    	
5.04
    	
 
    	
$
    	
5.04
    	
 
    
	
106
    	
 
    	
$
    	
49.61
    	
 
    	
$
    	
46.86
    	
 
    	
$
    	
9.18
    	
 
    	
$
    	
9.18
    	
 
    	
$
    	
5.04
    	
 
    	
$
    	
5.04
    	
 
    
	
107
    	
 
    	
$
    	
55.74
    	
 
    	
$
    	
52.73
    	
 
    	
$
    	
9.18
    	
 
    	
$
    	
9.18
    	
 
    	
$
    	
5.04
    	
 
    	
$
    	
5.04
    	
 
    
	
108
    	
 
    	
$
    	
63.15
    	
 
    	
$
    	
59.88
    	
 
    	
$
    	
9.18
    	
 
    	
$
    	
9.18
    	
 
    	
$
    	
5.04
    	
 
    	
$
    	
5.04
    	
 
    
	
109
    	
 
    	
$
    	
72.20
    	
 
    	
$
    	
68.70
    	
 
    	
$
    	
9.18
    	
 
    	
$
    	
9.18
    	
 
    	
$
    	
5.04
    	
 
    	
$
    	
5.04
    	
 
    
	
110
    	
 
    	
$
    	
83.42
    	
 
    	
$
    	
79.72
    	
 
    	
$
    	
9.18
    	
 
    	
$
    	
9.18
    	
 
    	
$
    	
5.04
    	
 
    	
$
    	
5.04
    	
 
    
	
111
    	
 
    	
$
    	
97.59
    	
 
    	
$
    	
93.78
    	
 
    	
$
    	
9.18
    	
 
    	
$
    	
9.18
    	
 
    	
$
    	
5.04
    	
 
    	
$
    	
5.04
    	
 
    
	
112
    	
 
    	
$
    	
116.03
    	
 
    	
$
    	
112.26
    	
 
    	
$
    	
9.18
    	
 
    	
$
    	
9.18
    	
 
    	
$
    	
5.04
    	
 
    	
$
    	
5.04
    	
 
    
	
113
    	
 
    	
$
    	
141.56
    	
 
    	
$
    	
138.22
    	
 
    	
$
    	
9.18
    	
 
    	
$
    	
9.18
    	
 
    	
$
    	
5.04
    	
 
    	
$
    	
5.04
    	
 
    
	
114
    	
 
    	
$
    	
187.79
    	
 
    	
$
    	
185.87
    	
 
    	
$
    	
9.18
    	
 
    	
$
    	
9.18
    	
 
    	
$
    	
5.04
    	
 
    	
$
    	
5.04
    	
 
    

 

Installments shown are monthly and are for each $1,000 of net Proceeds applied. Based on 2000 Individual Annuity Table, applied at 2% Interest, which is subject to change as described on Page 15, Interest On Settlement Options.

 

17

 

TABLE 3

 

JOINT AND SURVIVOR INCOME FACTORS

 

We will establish values for Age or sex combinations not shown in the table on request. They will be calculated on the same basis as those in this table.

 

	
 
    	
 
    	
Male Age
    	
 
    
	
Female Age
    	
 
    	
45
    	
 
    	
50
    	
 
    	
55
    	
 
    	
60
    	
 
    	
65
    	
 
    	
70
    	
 
    
	
45
    	
 
    	
$
    	
2.79
    	
 
    	
$
    	
2.86
    	
 
    	
$
    	
2.91
    	
 
    	
$
    	
2.95
    	
 
    	
$
    	
2.97
    	
 
    	
$
    	
2.99
    	
 
    
	
50
    	
 
    	
$
    	
2.89
    	
 
    	
$
    	
3.00
    	
 
    	
$
    	
3.09
    	
 
    	
$
    	
3.15
    	
 
    	
$
    	
3.20
    	
 
    	
$
    	
3.23
    	
 
    
	
55
    	
 
    	
$
    	
2.98
    	
 
    	
$
    	
3.13
    	
 
    	
$
    	
3.26
    	
 
    	
$
    	
3.38
    	
 
    	
$
    	
3.47
    	
 
    	
$
    	
3.53
    	
 
    
	
60
    	
 
    	
$
    	
3.06
    	
 
    	
$
    	
3.25
    	
 
    	
$
    	
3.44
    	
 
    	
$
    	
3.61
    	
 
    	
$
    	
3.76
    	
 
    	
$
    	
3.88
    	
 
    
	
65
    	
 
    	
$
    	
3.11
    	
 
    	
$
    	
3.34
    	
 
    	
$
    	
3.59
    	
 
    	
$
    	
3.84
    	
 
    	
$
    	
4.08
    	
 
    	
$
    	
4.28
    	
 
    
	
70
    	
 
    	
$
    	
3.15
    	
 
    	
$
    	
3.41
    	
 
    	
$
    	
3.71
    	
 
    	
$
    	
4.04
    	
 
    	
$
    	
4.39
    	
 
    	
$
    	
4.72
    	
 
    

 

Installments shown are monthly and are for each $1,000 of net Proceeds applied. Based on 2000 Individual Annuity Table a, applied at 2% Interest, and subject to change as described on Page 15, Interest On Settlement Options.

 

18

 

TABLE OF GUARANTEED VALUES

 

Your Values will never be less than shown here if You pay Your Initial Premium at issue, pay additional Planned Premium Amounts as You indicated on Your Application, and don’t take any Withdrawals. The Cash Surrender Value is calculated as described on Page 8 and equals the greater of the Contract Value less Surrender Charges or the Minimum Guaranteed Surrender Value. The Death Benefit equals the greater of the Contract Value or Minimum Guaranteed Surrender Value.

 

	
 
    	
End
   of
    Contract
   Year
    	
 
    	
Premium(s)
    	
 
    	
Cash
    Surrender
    Value
    	
 
    	
Death
    Benefit
    	
 
    	
 
    
	
 
    	
1
    	
 
    	
$
    	
20,000
    	
 
    	
$
    	
18,400
    	
 
    	
$
    	
20,000
    	
 
    	
 
    
	
 
    	
2
    	
 
    	
4,000
    	
 
    	
22,320
    	
 
    	
24,000
    	
 
    	
 
    
	
 
    	
3
    	
 
    	
4,000
    	
 
    	
26,320
    	
 
    	
28,000
    	
 
    	
 
    
	
 
    	
4
    	
 
    	
4,000
    	
 
    	
32,000
    	
 
    	
32,000
    	
 
    	
 
    
	
 
    	
5
    	
 
    	
4,000
    	
 
    	
36,000
    	
 
    	
36,000
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
6
    	
 
    	
4,000
    	
 
    	
40,000
    	
 
    	
40,000
    	
 
    	
 
    
	
 
    	
7
    	
 
    	
4,000
    	
 
    	
44,000
    	
 
    	
44,000
    	
 
    	
 
    
	
 
    	
8
    	
 
    	
4,000
    	
 
    	
48,000
    	
 
    	
48,000
    	
 
    	
 
    
	
 
    	
9
    	
 
    	
4,000
    	
 
    	
52,000
    	
 
    	
52,000
    	
 
    	
 
    
	
 
    	
10
    	
 
    	
4,000
    	
 
    	
56,000
    	
 
    	
56,000
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
11
    	
 
    	
4,000
    	
 
    	
60,000
    	
 
    	
60,000
    	
 
    	
 
    
	
 
    	
12
    	
 
    	
4,000
    	
 
    	
64,000
    	
 
    	
64,000
    	
 
    	
 
    
	
 
    	
13
    	
 
    	
4,000
    	
 
    	
68,000
    	
 
    	
68,000
    	
 
    	
 
    
	
 
    	
14
    	
 
    	
4,000
    	
 
    	
72,132
    	
 
    	
72,132
    	
 
    	
 
    
	
 
    	
15
    	
 
    	
4,000
    	
 
    	
76,767
    	
 
    	
76,767
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
16
    	
 
    	
4,000
    	
 
    	
81,471
    	
 
    	
81,471
    	
 
    	
 
    
	
 
    	
17
    	
 
    	
4,000
    	
 
    	
86,245
    	
 
    	
86,245
    	
 
    	
 
    
	
 
    	
18
    	
 
    	
4,000
    	
 
    	
91,091
    	
 
    	
91,091
    	
 
    	
 
    
	
 
    	
19
    	
 
    	
4,000
    	
 
    	
96,010
    	
 
    	
96,010
    	
 
    	
 
    
	
 
    	
20
    	
 
    	
4,000
    	
 
    	
101,003
    	
 
    	
101,003
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
25
    	
 
    	
4,000
    	
 
    	
127,112
    	
 
    	
127,112
    	
 
    	
 
    
	
 
    	
30
    	
 
    	
4,000
    	
 
    	
155,239
    	
 
    	
155,239
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
Maturity
    	
 
    	
$
    	
156,000
    	
 
    	
$
    	
185,540
    	
 
    	
185,540
    	
 
    	
 
    
													

 

Minimum Guaranteed Surrender Value at Maturity: $185,540

 

These values are based on the following:

 

Total Initial Premium: $20,000.00

Planned Premium Amount: $4,000.00

Planned Premium Mode: Annual

 

INDEX-4-09R-3

 

19

 

TABLE OF GUARANTEED VALUES

 

Your Values will never be less than shown here if You pay Your Initial Premium at issue, pay additional Planned Premium Amounts as You indicated on Your Application, and don’t take any Withdrawals. The Cash Surrender Value is calculated as described on Page 8 and equals the greater of the Contract Value less Surrender Charges or the Minimum Guaranteed Surrender Value. The Death Benefit equals the greater of the Contract Value or Minimum Guaranteed Surrender Value.

 

	
 
    	
End
    of
    Contract
    Year
    	
 
    	
Premium(s)
    	
 
    	
Cash
    Surrender
    Value
    	
 
    	
Death
    Benefit
    	
 
    	
 
    
	
 
    	
1
    	
 
    	
$
    	
20,000
    	
 
    	
$
    	
18,400
    	
 
    	
$
    	
20,000
    	
 
    	
 
    
	
 
    	
2
    	
 
    	
4,000
    	
 
    	
22,320
    	
 
    	
24,000
    	
 
    	
 
    
	
 
    	
3
    	
 
    	
4,000
    	
 
    	
26,320
    	
 
    	
28,000
    	
 
    	
 
    
	
 
    	
4
    	
 
    	
4,000
    	
 
    	
30,400
    	
 
    	
32,000
    	
 
    	
 
    
	
 
    	
5
    	
 
    	
4,000
    	
 
    	
34,560
    	
 
    	
36,000
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
6
    	
 
    	
4,000
    	
 
    	
40,000
    	
 
    	
40,000
    	
 
    	
 
    
	
 
    	
7
    	
 
    	
4,000
    	
 
    	
44,000
    	
 
    	
44,000
    	
 
    	
 
    
	
 
    	
8
    	
 
    	
4,000
    	
 
    	
48,000
    	
 
    	
48,000
    	
 
    	
 
    
	
 
    	
9
    	
 
    	
4,000
    	
 
    	
52,000
    	
 
    	
52,000
    	
 
    	
 
    
	
 
    	
10
    	
 
    	
4,000
    	
 
    	
56,000
    	
 
    	
56,000
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
11
    	
 
    	
4,000
    	
 
    	
60,000
    	
 
    	
60,000
    	
 
    	
 
    
	
 
    	
12
    	
 
    	
4,000
    	
 
    	
64,000
    	
 
    	
64,000
    	
 
    	
 
    
	
 
    	
13
    	
 
    	
4,000
    	
 
    	
68,000
    	
 
    	
68,000
    	
 
    	
 
    
	
 
    	
14
    	
 
    	
4,000
    	
 
    	
72,132
    	
 
    	
72,132
    	
 
    	
 
    
	
 
    	
15
    	
 
    	
4,000
    	
 
    	
76,767
    	
 
    	
76,767
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
16
    	
 
    	
4,000
    	
 
    	
81,471
    	
 
    	
81,471
    	
 
    	
 
    
	
 
    	
17
    	
 
    	
4,000
    	
 
    	
86,245
    	
 
    	
86,245
    	
 
    	
 
    
	
 
    	
18
    	
 
    	
4,000
    	
 
    	
91,091
    	
 
    	
91,091
    	
 
    	
 
    
	
 
    	
19
    	
 
    	
4,000
    	
 
    	
96,010
    	
 
    	
96,010
    	
 
    	
 
    
	
 
    	
20
    	
 
    	
4,000
    	
 
    	
101,003
    	
 
    	
101,003
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
25
    	
 
    	
4,000
    	
 
    	
127,112
    	
 
    	
127,112
    	
 
    	
 
    
	
 
    	
30
    	
 
    	
4,000
    	
 
    	
155,239
    	
 
    	
155,239
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
Maturity
    	
 
    	
$
    	
156,000
    	
 
    	
$
    	
185,540
    	
 
    	
$
    	
185,540
    	
 
    	
 
    

 

Minimum Guaranteed Surrender Value at Maturity:   $185,540 These values are based on the following:

 

Total Initial Premium: $20,000.00 

Planned Premium Amount: $4,000.00 

Planned Premium Mode: Annual

 

INDEX-4-09R-5

 

19

 

TABLE OF GUARANTEED VALUES

 

Your Values will never be less than shown here if You pay Your Initial Premium at issue, pay additional Planned Premium Amounts as You indicated on Your Application, and don’t take any Withdrawals. The Cash Surrender Value is calculated as described on Page 8 and equals the greater of the Contract Value less Surrender Charges or the Minimum Guaranteed Surrender Value. The Death Benefit equals the greater of the Contract Value or Minimum Guaranteed Surrender Value.

 

	
 
    	
End
    of
    Contract
    Year
    	
 
    	
Premium(s)
    	
 
    	
Cash
    Surrender
    Value
    	
 
    	
Death
    Benefit
    	
 
    	
 
    
	
 
    	
1
    	
 
    	
$
    	
20,000
    	
 
    	
18,400
    	
 
    	
20,000
    	
 
    	
 
    
	
 
    	
2
    	
 
    	
4,000
    	
 
    	
22,320
    	
 
    	
24,000
    	
 
    	
 
    
	
 
    	
3
    	
 
    	
4,000
    	
 
    	
26,320
    	
 
    	
28,000
    	
 
    	
 
    
	
 
    	
4
    	
 
    	
4,000
    	
 
    	
30,400
    	
 
    	
32,000
    	
 
    	
 
    
	
 
    	
5
    	
 
    	
4,000
    	
 
    	
34,560
    	
 
    	
36,000
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
6
    	
 
    	
4,000
    	
 
    	
38,800
    	
 
    	
40,000
    	
 
    	
 
    
	
 
    	
7
    	
 
    	
4,000
    	
 
    	
43,120
    	
 
    	
44,000
    	
 
    	
 
    
	
 
    	
8
    	
 
    	
4,000
    	
 
    	
48,000
    	
 
    	
48,000
    	
 
    	
 
    
	
 
    	
9
    	
 
    	
4,000
    	
 
    	
52,000
    	
 
    	
52,000
    	
 
    	
 
    
	
 
    	
10
    	
 
    	
4,000
    	
 
    	
56,000
    	
 
    	
56,000
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
11
    	
 
    	
4,000
    	
 
    	
60,000
    	
 
    	
60,000
    	
 
    	
 
    
	
 
    	
12
    	
 
    	
4,000
    	
 
    	
64,000
    	
 
    	
64,000
    	
 
    	
 
    
	
 
    	
13
    	
 
    	
4,000
    	
 
    	
68,000
    	
 
    	
68,000
    	
 
    	
 
    
	
 
    	
14
    	
 
    	
4,000
    	
 
    	
72,132
    	
 
    	
72,132
    	
 
    	
 
    
	
 
    	
15
    	
 
    	
4,000
    	
 
    	
76,767
    	
 
    	
76,767
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
16
    	
 
    	
4,000
    	
 
    	
81,471
    	
 
    	
81,471
    	
 
    	
 
    
	
 
    	
17
    	
 
    	
4,000
    	
 
    	
86,245
    	
 
    	
86,245
    	
 
    	
 
    
	
 
    	
18
    	
 
    	
4,000
    	
 
    	
91,091
    	
 
    	
91,091
    	
 
    	
 
    
	
 
    	
19
    	
 
    	
4,000
    	
 
    	
96,010
    	
 
    	
96,010
    	
 
    	
 
    
	
 
    	
20
    	
 
    	
4,000
    	
 
    	
101,003
    	
 
    	
101,003
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
25
    	
 
    	
4,000
    	
 
    	
127,112
    	
 
    	
127,112
    	
 
    	
 
    
	
 
    	
30
    	
 
    	
4,000
    	
 
    	
155,239
    	
 
    	
155,239
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
Maturity
    	
 
    	
$
    	
156,000
    	
 
    	
$
    	
185,540
    	
 
    	
$
    	
185,540
    	
 
    	
 
    
													

 

Minimum Guaranteed Surrender Value at Maturity: $185,540

 

These values are based on the following:

 

Total Initial Premium: $20,000.00

Planned Premium Amount: $4,000.00

Planned Premium Mode: Annual

 

INDEX-4-09R-7

 

19

 

EAGLE

LIFE INSURANCE COMPANY

 

[P. O. Box 71279]

[Des Moines, Iowa 50325-0279]

 

FLEXIBLE PREMIUM DEFERRED ANNUITY CONTRACT WITH INDEX-LINKED INTEREST
 OPTIONS

Index Credits currently linked to the S&P 500 Index 

With Market Value Adjustment Provision 

Which May Increase or Decrease Cash Surrender Values 

Death Benefit Prior to Maturity 

Monthly Income at Maturity 

No Dividends

 

INDEX-4-09R

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00188-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00188-of-00352.parquet"}]]