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firstamendmenttosecondam

                                                              EXECUTION VERSION     FIRST AMENDMENT TO SECOND AMENDED AND RESTATED CREDIT AGREEMENT                             AND JOINDER AGREEMENT                                                   This FIRST AMENDMENT TO SECOND        AMENDED AND RESTATED CREDIT   AGREEMENT AND JOINDER AGREEMENT (this “Amendment”) is dated as of June 29, 2018, by and   among UBIQUITI NETWORKS, INC., a Delaware corporation (the “Parent Borrower”) and UBIQUITI   INTERNATIONAL HOLDING COMPANY LIMITED, an exempted company incorporated under the   laws of the Cayman Islands (the “Cayman Borrower” and, together with the Parent Borrower, the   “Borrowers”), certain Subsidiaries of the Borrowers party hereto (the “Guarantors”), each of the Lenders   party hereto, and WELLS FARGO BANK, NATIONAL ASSOCIATION, as administrative agent for the   Lenders (in such capacity, the “Administrative Agent”).                                  Statement of Purpose          The Borrowers, the Lenders party thereto and the Administrative Agent are parties to that certain   Second Amended and Restated Credit Agreement dated as of January 17, 2018 (as amended, restated,   supplemented or otherwise modified from time to time prior to the date hereof, the “Existing Credit   Agreement”, and as amended by this Amendment, the “Credit Agreement”), pursuant to which the   Lenders have extended a term loan to the Parent Borrower and a revolving credit facility to the   Borrowers.          The Cayman Borrower and certain other Foreign Subsidiaries of the Parent Borrower are parties  to that certain Second Amended and Restated Foreign Collateral Agreement, dated as of January 17, 2018  (as amended, restated, supplemented or otherwise modified from time to time, the “Foreign Collateral   Agreement”), pursuant to which the Grantors (as defined therein) party thereto have granted and pledged   a security interest in certain Collateral (as defined therein) to the Administrative Agent as collateral   security for the payment and performance of the Foreign Secured Obligations.           The Borrowers have requested, and subject to the terms and conditions set forth herein, the  Administrative Agent and the Lenders have agreed, to (a) amend the Existing Credit Agreement and (b)  add Ubiquiti Global Energy Limited, an exempted company incorporated under the laws of the Cayman  Islands (the “Ubiquiti Global”), as a “Grantor” (as defined in the Foreign Collateral Agreement) under the   Foreign Collateral Agreement, in each case as specifically set forth herein.          NOW, THEREFORE, for good and valuable consideration, the receipt and sufficiency of which   are hereby acknowledged, the parties hereto hereby agree as follows:          1.    Capitalized Terms.  All capitalized undefined terms used in this Amendment (including,   without limitation, in the introductory paragraph and the Statement of Purpose hereto) shall have the   meanings assigned thereto in the Credit Agreement.            2.    Amendments to Existing Credit Agreement.  Subject to and in accordance with the terms   and conditions set forth herein, the parties hereto agree that the Existing Credit Agreement is amended as   follows:                (a)   the following definitions are hereby added to Section 1.1 of the Existing Credit   Agreement in the appropriate alphabetical order to read in their entirety as follows:               “Beneficial Ownership Certification” means a certification regarding beneficial ownership         as required by the Beneficial Ownership Regulation.     103751292_3  

 

           “Beneficial Ownership Regulation” means 31 CFR § 1010.230.              “Cayman Subsidiary Guaranty” means the Third Amended and Restated Cayman        Subsidiary Guaranty Agreement dated as of the First Amendment Effective Date, executed by       Ubiquiti Cayman, Ubiquiti Global, and certain other Subsidiaries of the Cayman Borrower from       time to time party thereto in favor of the Administrative Agent, for the ratable benefit of the       Secured Parties.              “First Amendment Effective Date” means June 29, 2018.              “Ubiquiti Global” means Ubiquiti Global Energy Limited, an exempted company        incorporated under the laws of the Cayman Islands.              “Ubiquiti Global Share Charge” means the equitable charge over shares dated as of June        29, 2018, pursuant to which the Administrative Agent, for the benefit of the Secured Parties, is        granted a security interest (or the equivalent under Cayman Islands law) in one-hundred percent       (100%) of the Equity Interests of Ubiquiti Global.               (b)   the definition of “Change in Control” in Section 1.1 of the Existing Credit  Agreement is hereby amended by replacing clause (c) of such definition with the following:         “(c)  the Cayman Borrower shall fail to control and directly own 100% of each class of       outstanding Equity Interests of Ubiquiti Hong Kong, Ubiquiti Cayman and Ubiquiti Global.”               (c)   the definition of “Foreign Credit Parties” in Section 1.1 of the Existing Credit  Agreement is hereby amended by replacing such definition with the following:               “Foreign Credit Parties” means, collectively, (a) the Cayman Borrower, (b) Ubiquiti        Hong Kong, (c) Ubiquiti Cayman and (d) Ubiquiti Global.               (d)   the definition of “Guarantors” in Section 1.1 of the Existing Credit Agreement is  hereby amended by replacing such definition with the following:               “Guarantors” means, collectively, (a) the US Guarantors, (b) Ubiquiti Hong Kong, (c)        Ubiquiti Cayman, and (d) Ubiquiti Global.               (e)   the definition of “Guaranty Agreements” in Section 1.1 of the Existing Credit  Agreement is hereby amended by replacing the reference therein to “Ubiquiti Cayman Guaranty” with  “Cayman Subsidiary Guaranty”.               (f)   the definition of “Material Foreign Subsidiary” in Section 1.1 of the Existing  Credit Agreement is hereby amended by adding a new clause (d) to such definition to read as follows:  “(d) Ubiquiti Global,” and re-lettering existing clauses (d) and (e) to clauses (e) and (f), respectively.               (g)   the definition of “Security Documents” in Section 1.1 of the Existing Credit  Agreement is hereby amended by adding “the Ubiquiti Global Share Charge,” after the reference to “the  Ubiquiti Cayman Share Charge,” and before the reference to “the Ubiquiti Hong Kong Charge over  Accounts”.               (h)   the definition of “Ubiquiti Cayman Guaranty” in Section 1.1 of the Existing  Credit Agreement is hereby deleted.                                         2  103751292_3  

 

             (i)   Section 7.17 of the Existing Credit Agreement is hereby amended by (i) adding   “(a)” after “The Borrowers will” and before “maintain in effect” and (ii) adding new clauses (b) and (c) at   the end of such Section to read as follows:            “(b) notify the Administrative Agent and each Lender that previously received a Beneficial           Ownership Certification of any change in the information provided in the Beneficial           Ownership Certification that would result in a change to the list of beneficial owners identified           therein and (c) promptly upon the reasonable request of the Administrative Agent or any           Lender, provide the Administrative Agent or such Lender, as the case may be, any information           or documentation requested by it for purposes of complying with the Beneficial Ownership           Regulation.”                (j)   Section 8.2 of the Existing Credit Agreement is hereby amended by adding “and   agreements among the Cayman Borrower and Ubiquiti Global existing on the First Amendment Effective   Date, in each case” after the reference to “Ubiquiti Cayman existing on the Closing Date” and before the   reference to “as such agreements are amended from time to time in accordance with their terms”.                (k)   Section 8.4 of the Existing Credit Agreement is hereby amended by replacing the   reference therein to “and Ubiquiti Cayman” with “, Ubiquiti Cayman and Ubiquiti Global”.          3.    Foreign Collateral Agreement Supplement.          (a)   Joinder of Ubiquiti Global to Foreign Collateral Agreement.                (i)   The Credit Parties and Ubiquiti Global hereby agree that by execution of this  Amendment, Ubiquiti Global is a party to the Foreign Collateral Agreement as if a signatory thereof as a  Grantor (as defined in the Foreign Collateral Agreement) and as an Issuer (as defined in the Foreign  Collateral Agreement) on the First Amendment Effective Date, and Ubiquiti Global (A) shall comply with,  and be subject to, and have the benefit of, all of the terms, covenants, conditions, agreements and obligations  set forth in the Foreign Collateral Agreement and (B) hereby makes each representation and warranty set  forth in the Foreign Collateral Agreement (subject to the information set forth on the schedules delivered   pursuant to clause (d) below and with references in such representations and warranties to the “Closing Date”   or “the date hereof” (or similar terms) being deemed to be the date of this Amendment).  The Credit Parties  and Ubiquiti Global hereby agree that each reference to a “Grantor”, the “Grantors”, an “Issuer” or the  “Issuers” in the Foreign Collateral Agreement and the other Loan Documents shall include Ubiquiti Global.                (ii) In order to secure the prompt and complete payment and performance when due  (whether at the stated maturity, by acceleration or otherwise) of the Foreign Secured Obligations in  accordance with the terms of the Credit Agreement and the other Loan Documents, (A) Ubiquiti Global  hereby grants, pledges and collaterally assigns to the Administrative Agent, for the ratable benefit of itself  and the Secured Parties, a security interest in and to all of Ubiquiti Global’s right, title and interest in and to  all Collateral (as defined in the Foreign Collateral Agreement) whether now owned or at any time hereafter  acquired by Ubiquiti Global or in which Ubiquiti Global now has or at any time in the future may acquire any  right, title or interest, and wherever located or deemed located (collectively, the “New Collateral”) and (B)   the Cayman Borrower hereby confirms that the Cayman Borrower’s Collateral (as defined in the Foreign   Collateral Agreement) includes 100% of the Equity Interests owned by it in Ubiquiti Global (collectively, the   “Additional Investment Property”).                (iii) The Cayman Borrower and Ubiquiti Global hereby agree that “Collateral” as used  in the Foreign Collateral Agreement and the Credit Agreement shall include all New Collateral and all  Additional Investment Property pledged pursuant hereto, “General Intangibles”, “Investment Property”,                                          3   103751292_3  

 

 “Equity Interests” and/or “Partnership/LLC Interests”, as applicable, as used therein shall include the   Additional Investment Property pledged pursuant hereto and “Foreign Collateral Agreement” or   “Agreement” as used therein shall mean the Foreign Collateral Agreement as supplemented hereby.          (b)   Filing Information and Perfection.  Pursuant to Section 4.6 of the Foreign Collateral   Agreement, Ubiquiti Global hereby authorizes the Administrative Agent to file or record financing  statements and other filing or recording documents or instruments with respect to the Collateral (as   defined in the Foreign Collateral Agreement) in such form and in such offices as the Administrative   Agent determines appropriate to perfect the Security Interests (as defined in the Foreign Collateral   Agreement) of the Administrative Agent under this Amendment and the Foreign Collateral Agreement.    The Credit Parties and Ubiquiti Global shall deliver to the Administrative Agent such certificates and other   documents (including, without limitation, stock certificates, stock powers, unit certificates and unit powers, as   applicable) and take such action as the Administrative Agent shall reasonably request in order to effectuate   the terms hereof and of the Foreign Collateral Agreement.          (c)   Acknowledgement and Consent.  Ubiquiti Global hereby acknowledges receipt of copies   of the Credit Agreement, the Foreign Collateral Agreement, the Cayman Subsidiary Guaranty and the  other Loan Documents to which it is a party and agrees for the benefit of the Administrative Agent and  the Secured Parties to be bound thereby and to comply with the terms thereof insofar as such terms are  applicable to it.          (d)   Schedules to the Credit Agreement and the Foreign Collateral Agreement.  Attached   hereto as Annex A is all information required to be provided on (i) Schedules 6.1, 6.2, 6.12 and 6.17 to   the Credit Agreement and (ii) Schedules 3.6, 3.9, 3.10, 3.12 and 3.13 to the Foreign Collateral   Agreement, setting forth all information required to be provided therein with respect to Ubiquiti Global.    For purposes of this clause (d), all references to “Closing Date” or “the date hereof” (or similar terms)   that qualify such Schedules shall be deemed to mean the date of this Amendment.          4.    Conditions to Effectiveness.  The effectiveness of this Amendment shall be subject to the   satisfaction of each of the following conditions precedent:                (a)   Documents.  The Administrative Agent’s receipt of the following, each properly         executed by a Responsible Officer of the signing Credit Party and each in form and substance        reasonably satisfactory to the Administrative Agent:                      (i)   this Amendment, duly executed by each of the Credit Parties, Ubiquiti        Global, the Administrative Agent, and the Required Lenders;                     (ii)  a Third Amended and Restated Cayman Subsidiary Guaranty executed        by Ubiquiti Cayman and Ubiquiti Global in favor of the Administrative Agent;                     (iii) a Charge Over Shares in Ubiquiti Global executed by the Cayman        Borrower, in favor of the Administrative Agent, pursuant to which the Administrative Agent is        granted a security interest (or the equivalent under Cayman Islands law) in one-hundred percent        (100%) of the Equity Interests of Ubiquiti Global;                     (iv)  a certificate of a Responsible Officer of the Cayman Borrower and        Ubiquiti Global certifying as to the incumbency and genuineness of the signature of each officer        of such Person executing any applicable Loan Documents to which it is a party and certifying that        attached thereto is a true, correct and complete copy of (A) the articles or certificate of        incorporation or formation (or equivalent), as applicable, of such Person and all amendments                                          4   103751292_3  

 

      thereto, certified as of a recent date by the appropriate Governmental Authority in its jurisdiction        of incorporation, organization or formation (or equivalent), as applicable, (B) the bylaws or other        governing document of such Person as in effect on the First Amendment Effective Date,       (C) resolutions duly adopted by the board of directors (or other governing body) of such Person       authorizing and approving the transactions contemplated hereunder and the execution, delivery       and performance of this Amendment and any other applicable Loan Documents to which it is a       party, and (D) a certificate, as of a recent date, of the good standing of such Person under the laws       of the Cayman Islands; and                    (v)   legal opinions from counsel to the Credit Parties with respect to Ubiquiti        Global, the applicable Loan Documents and such other matters as the Administrative Agent shall        reasonably request.               (b)   Personal Property Collateral.                     (i)   Register of Mortgages and Charges.  The Administrative Agent shall        have received a true, correct and complete copy of the register of mortgages and charges for        Ubiquiti Global and the Cayman Borrower which shall include details of all Security Documents        entered into by Ubiquiti Global and the Cayman Borrower.                     (ii)  Other Collateral Documentation.  The Administrative Agent shall have        received any documents reasonably requested thereby or as required by the terms of the Security        Documents to evidence its security interest in Ubiquiti Global’s Collateral or the pledge of        Ubiquiti Global’s Equity Interests by the Cayman Borrower.               (c)   No Default.  No Default or Event of Default shall have occurred and be  continuing immediately prior to or after giving effect to this Amendment.               (d)   PATRIOT Act.  Ubiquiti Global shall have provided to the Administrative Agent  and the Lenders the documentation and other information requested by the Administrative Agent in order  to comply with requirements of the PATRIOT Act, applicable “know your customer” and anti-money  laundering rules and regulations prior to the First Amendment Effective Date.               (e)   Beneficial Ownership.  Each Credit Party or Subsidiary thereof that qualifies as a  “legal entity customer” under the Beneficial Ownership Regulation shall have delivered to the  Administrative Agent, and any Lender requesting the same, a Beneficial Ownership Certification in  relation to such Credit Party or such Subsidiary, in each case prior to the First Amendment Effective  Date.               (f)   Fees and Expenses.  The Borrowers shall have paid all fees and expenses as  separately agreed to in connection with this Amendment, including without limitation, all reasonable fees,  charges and disbursements of counsel to the Administrative Agent (directly to such counsel if requested  by the Administrative Agent).         For purposes of determining compliance with the conditions specified in this Section 4, each  Lender that has signed this Amendment shall be deemed to have consented to, approved or accepted or to  be satisfied with, each document or other matter required thereunder to be consented to or approved by or  acceptable or satisfactory to a Lender unless the Administrative Agent shall have received notice from  such Lender prior to the First Amendment Effective Date specifying its objection thereto.                                          5  103751292_3  

 

       5.    Security Document Actions.  Notwithstanding anything to the contrary in any Security   Document or any other Loan Document, the Cayman Borrower and Ubiquiti Global shall have thirty (30)   days after the First Amendment Effective Date (or such longer period agreed to by the Administrative  Agent) to take any actions required under any Security Document or any other Loan Document with  respect to the pledge and perfection of Ubiquiti Global’s Equity Interests by the Cayman Borrower and  perfection of the Administrative Agent’s security interest in Ubiquiti Global’s Collateral (as defined in the  Foreign Collateral Agreement).            6.    Limited Effect.  Except as expressly provided herein, the Credit Agreement and the other   Loan Documents shall remain unmodified and in full force and effect.  This Amendment shall not be  deemed (a) to be a waiver of, or consent to, or a modification or amendment of, any other term or  condition of the Credit Agreement or any other Loan Document other than as expressly set forth herein,  (b) to prejudice any right or rights which the Administrative Agent or the Lenders may now have or may  have in the future under or in connection with the Credit Agreement or the other Loan Documents or any  of the instruments or agreements referred to therein, as the same may be amended, restated, supplemented  or modified from time to time, or (c) to be a commitment or any other undertaking or expression of any  willingness to engage in any further discussion with the Borrowers, any of their Subsidiaries or any other   Person with respect to any other waiver, amendment, modification or any other change to the Credit  Agreement or the Loan Documents or any rights or remedies arising in favor of the Lenders or the  Administrative Agent, or any of them, under or with respect to any such documents.  References in the  Credit Agreement to “this Agreement” (and indirect references such as “hereunder”, “hereby”, “herein”,  “hereof” or other words of like import) and in any Loan Document to the “Credit Agreement” shall be  deemed to be references to the Credit Agreement as modified hereby.                    7.    Representations and Warranties.  Each Borrower and each Guarantor (including Ubiquiti   Global) represents and warrants that (a) it has the corporate or other equivalent power and authority to   make, deliver and perform this Amendment, (b) it has taken all necessary corporate or other equivalent   action to authorize the execution, delivery and performance of this Amendment, (c) this Amendment has   been duly executed and delivered on behalf of such Person, (d) this Amendment constitutes a legal, valid   and binding obligation of such Person, enforceable against it in accordance with its terms, except as   enforceability may be limited by applicable bankruptcy, insolvency, reorganization, moratorium or   similar laws affecting the enforcement of creditors’ rights generally and by general equitable principles   (whether enforcement is sought by proceedings in equity or at law), (e) each of the representations and   warranties made by such Credit Party in or pursuant to the Loan Documents is true and correct in all   material respects (except to the extent that such representation and warranty is subject to a materiality or   Material Adverse Effect qualifier, in which case it shall be true and correct in all respects), in each case   on and as of the date hereof as if made on and as of the date hereof, except to the extent that such   representations and warranties relate to an earlier date, in which case such representations and warranties   are true and correct in all material respects as of such earlier date, (f) no Default or Event of Default has   occurred and is continuing as of the date hereof or would result after giving effect to this Amendment and  the transactions contemplated hereby, and (g) as of the First Amendment Effective Date, all of the  information included in any Beneficial Ownership Certification is true and correct.            8.    Acknowledgement and Reaffirmation.  By their execution hereof, each Borrower and   each Guarantor (including Ubiquiti Global) hereby expressly (a) consents to this Amendment, (b)  acknowledges that the covenants, representations, warranties and other obligations set forth in the Credit  Agreement, the Notes and the other Loan Documents to which such Borrower or such Guarantor is a  party remain in full force and effect (it being understood and agreed that to the extent any such covenants,  representations, warranties or other obligations are expressly modified herein, such covenants,  representations, warranties or obligations shall continue in full force and effect as expressly modified  herein) and (c) ratifies and reaffirms any guarantee and grant of security interests and Liens on any of                                          6   103751292_3  

 

 their respective Collateral pursuant to any Loan Document as security for or otherwise guaranteeing the   Obligations under or with respect to the Loan Documents and confirm and agree that such security   interests and Liens are in all respects continuing and in full force and effect and shall continue to secure   all of the Obligations under the Loan Documents (after giving effect to this Amendment).            9.    Costs, Expenses and Taxes.  The Borrowers agree to pay all reasonable and documented   out-of-pocket costs and expenses of the Administrative Agent in connection with the preparation,   execution, delivery and administration of this Amendment and the other instruments and documents to be   delivered hereunder, including, without limitation, the reasonable and documented fees and out-of-pocket   expenses of counsel for the Administrative Agent.                  10.   Execution in Counterparts.  This Amendment may be executed by one or more of the   parties hereto in any number of separate counterparts and all of said counterparts taken together shall be  deemed to constitute one and the same instrument.  Delivery of an executed signature page of this  Amendment by facsimile, telecopy, pdf or other electronic transmission shall be effective as delivery of a  manually executed counterpart hereof.            11.   Governing Law.  THIS AMENDMENT AND THE RIGHTS AND OBLIGATIONS OF   THE PARTIES UNDER THIS AMENDMENT SHALL BE GOVERNED BY, AND CONSTRUED IN  ACCORDANCE WITH, THE LAW OF THE STATE OF NEW YORK, WITHOUT REFERENCE TO  THE CONFLICTS OR CHOICE OF LAW PRINCIPLES THEREOF.          12.   Entire Agreement.  This Amendment is the entire agreement, and supersedes any prior   agreements and contemporaneous oral agreements, of the parties concerning its subject matter.  This   Amendment is a Loan Document and is subject to the terms and conditions of the Credit Agreement.          13.   Successors and Assigns.  This Amendment shall be binding on and inure to the benefit of   the parties and their heirs, beneficiaries, successors and permitted assigns.                  [Remainder of page intentionally left blank; signature pages follow]                                           7   103751292_3  

 

 

 

      IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be executed under  seal by their duly authorized officers, all as of the day and year first written above.                                       Borrowers:                                       UBIQUITI NETWORKS, INC., as Parent Borrower                                       By:  _________________________________________                                      Name: Kevin Radigan                                      Title:   Chief Accounting Officer                                       UBIQUITI INTERNATIONAL HOLDING                                      COMPANY LIMITED, as Cayman Borrower                                       By:  _________________________________________                                      Name:  Kevin Radigan                                      Title:    Authorized Signatory                                        Existing Guarantors:                                      UBIQUITI CAYMAN LIMITED,                                       as Guarantor                                       By:                                        Name:  Kevin Radigan                                      Title:    Authorized Signatory                                        UBIQUITI NETWORKS INTERNATIONAL                                      LIMITED, as Guarantor                                       By:                                        Name:  Robert J. Pera                                      Title:  Director                                       UBIQUITI ENERGY, LLC, as Guarantor                                       By:                                        Name: Kevin Radigan                                      Title:   Chief Accounting Officer                                      UBIQUITI LABS, LLC, as Guarantor                                       By:                                        Name: Kevin Radigan                                      Title:   Chief Accounting Officer                                  Ubiquiti Networks, Inc.         First Amendment to Second Amended and Restated Credit Agreement and Joinder Agreement                                   Signature Page 

 

 

 

 

 

 

 

                            FIFTH THIRD BANK , as Lender                               By:  _________________________________________                               Name:  Valerie Schanzer                             Title:    Managing Director                                                          Ubiquiti Networks, Inc.  First Amendment to Second Amended and Restated Credit Agreement and Joinder Agreement                            Signature PageExhibit

	
			
	 
	 
	Symetra Life Insurance Company
[777 108th Avenue NE, Suite 1200 | Bellevue, WA 98004-5135]
[Mail to: PO Box 305156 | Nashville, TN 37230-5156]
[Phone 1-800-796-3872 | www.symetra.com]

[Symetra Product Name]

This is a legal Contract between the Owner(s) (referred to in the Contract as "you" and "your" and “Owner”) and Symetra Life Insurance Company (referred to in the Contract as "Symetra Life", "our", "us", and "we"). Symetra Life is a stock company with its Home Office in Bellevue, Washington.

The Contract is issued in consideration of the application and payment of the Purchase Payment. Symetra Life will make Annuity Payments to the Payee (you or someone you choose), beginning on the Annuity Date, or pay a death benefit to your Beneficiary(ies), subject to the terms of the Contract.

IMPORTANT

YOU HAVE PURCHASED AN ANNUITY CONTRACT. CAREFULLY REVIEW IT FOR LIMITATIONS.

FREE LOOK PROVISION - RIGHT TO CANCEL

This Contract may be returned for any reason within [10] days after you receive it by mailing or delivering the Contract to either us or the insurance producer who sold it. Return of this Contract by mail is effective on being postmarked, properly addressed and postage prepaid. We will promptly refund your Contract Value plus any fees or charges deducted under the Contract as of the Business Day we receive your Contract. Your Contract Value may be more or less than your Purchase Payment.

VALUES AND DETERMINATION OF ANNUITY PAYMENTS PROVIDED BY THIS CONTRACT, WHEN BASED ON THE VALUE OF THE INDEX ACCOUNT OPTIONS, ARE VARIABLE, MAY INCREASE OR DECREASE, AND ARE NOT GUARANTEED AS TO FIXED DOLLAR AMOUNT.

INDIVIDUAL SINGLE PREMIUM DEFERRED ANNUITY CONTRACT 
WITH INDEX-LINKED INTEREST OPTION

NONPARTICIPATING

Signed for Symetra Life Insurance Company, at its Bellevue, Washington office on the Issue Date.

[Margaret A. Meister]                        [Jacqueline M. Veneziani]
[President]                            [Secretary]

IF YOU HAVE ANY QUESTIONS, COMMENTS OR COMPLAINTS,
PLEASE CONTACT SYMETRA AT [1-800-796-3872].

SYMETRA LIFE INSURANCE COMPANY

TABLE OF CONTENTS
CONTRACT DATA PAGE                                         [1]

DEFINITIONS    [4]
Accumulation Phase    [4]
Adjusted Index Return    [4]
Allocation Date    [4]
Annuitant    [4]
Annuity Date    [4]
Annuity Payments    [4]
Base Value    [4]
Beneficiary    [4]
Business Day    [4]
Cash Surrender Value    [4]
Contract    [4]
Contract Anniversary    [4]
Contract Date    [4]
Contract Value    [4]
Contract Year    [4]
Crediting Method    [4]
Death Benefit    [4]
Fixed Account    [4]
Fixed Account Guaranteed Minimum Interest Rate    [5]
Fixed Account Value    [5]
Fixed Holding Account    [5]
General Account    [5]
Guaranteed Minimum Indexed Interest Cap    [5]
Home Office    [5]
Income Phase    [5]
Index    [5]
Index Return    [5]
Index Value    [5]
Indexed Account    [5]
Indexed Account Value    [5]
Indexed Interest    [5]
Indexed Interest Buffer    [5]
Indexed Interest Cap    [5]
Indexed Interest Floor    [5]
Interest Term    [5]
Interim Value    [5]
Owner    [6]
Payee    [6]
Purchase Payment    [6]
Return Lock    [6]
Return Lock Date    [6]
Separate Account    [6]
Surrender Charge    [6]
Surrender Charge Period    [6]
THE ANNUITY CONTRACT    [6]
ABOUT THE CONTRACT    [6]
Purchase Payment    [6]
OWNER    [6]
ANNUITANT    [6]
BENEFICIARY    [7]
CONTRACT VALUE AND INTEREST CREDITING    [7]
FIXED HOLDING ACCOUNT    [7]
ALLOCATION    [7]
Interest Term    [7]
FIXED ACCOUNT    [7]
Fixed Interest    [7]
Fixed Account Value    [7]
INDEXED ACCOUNT(S)    [7]
Indexed Interest    [8]

Indexed Interest Cap    [8]
Indexed Interest Buffer    [8]
Indexed Interest Floor    [8]
Indexed Account Value    [8]
Discontinuation or Substantial Change to an Index    [8]
RETURN LOCK    [8]
TRANSFERS    [8]
CASH SURRENDER VALUE    [9]
INTERIM VALUE    [9]
WITHDRAWALS    [9]
WITHDRAWALS    [9]
WITHDRAWAL RESTRICTIONS    [9]
CHARGES AND TAXES    [9]
SURRENDER CHARGE    [9]
WAIVER OF CHARGES    [9]
Free Withdrawal Amount    [9]
Repetitive Withdrawals and Annuity Payments    [10]
Nursing Home Waiver    [10]
Terminal Illness Waiver    [10]
Denial of Waiver Claims    [10]
MINIMUM VALUES    [11]
INCOME OR OTHER TAXES    [11]
ANNUITY PAYMENTS    [11]
ANNUITIZATION AGE    [11]
INCOME PHASE    [11]
Annuity Options    [11]
Life Annuity    [11]
Life Annuity with Guranteed Period    [11]
Joint and Survivor Life Annuity    [11]
Joint and Survivor Life Annuity with Guaranteed Period    [11]
Automatic Option    [12]
CALCULATION OF ANNUITY PAYMENTS    [12]
DEATH BENEFIT    [12]
DEATH BENEFIT PROVISIONS    [12]
Death Benefit    [12]
DEATH OF ANNUITANT Prior to the Annuity Date    [12]
DEATH OF OWNER Prior to the Annuity Date    [12]
Payment of Death Benefit    [12]
DEATH OF ANNUITANT On or After the Annuity Date    [13]
DEATH OF OWNER On or After the Annuity Date    [13]
GENERAL PROVISIONS    [14]
ACCOUNT STATEMENTS    [13]
ASSIGNMENT OF BENEFITS    [13]
COMMUNICATIONS    [13]
CONFORMITY WITH LAW    [13]
CONTRACT AMENDMENTS    [14]
ENTIRE CONTRACT    [14]
ESSENTIAL DATA    [14]
EVIDENCE OF SURVIVAL    [14]
INCONTESTABILITY    [14]
JURISDICTION    [14]
MISSTATEMENT OF AGE OR SEX    [14]
NONPARTICIPATION    [14]
SEPARATE ACCOUNT    [14]
SUSPENSION OF PAYMENTS, RETURN LOCK REQUESTS OR TRANSFERS    [15]
SUSPENSION OF WITHDRAWALS    [15]
TERMINATION OF CONTRACT    [15]

DEFINITIONS

Accumulation Phase: The period beginning on the Contract Date shown on your Contract data page and ending on the Annuity Date.

Adjusted Index Return: The Index Return, after the application of the Indexed Interest Cap and either the Indexed Interest Buffer or the Indexed Interest Floor.

Allocation Date: The date when the Purchase Payment is allocated to the Fixed Account or one or more Indexed Account(s) for the initial Interest Term. The Allocation Date will be the next 7th or 21st calendar day of a month, whichever occurs first after the Contract Date. If this date is not a Business Day, the Allocation Date will be the next Business Day.

Annuitant: The natural person(s) on whose life (or lives) Annuity Payments under the Contract are based and is shown on your Contract data page. You are the Annuitant unless you designate someone else before the Annuity Date. If there is a joint Annuitant, the term Annuitant as used in the Contract includes the joint Annuitant named on the application, unless changed.

Annuity Date: The date that the Income Phase begins.

Annuity Payments: A series of periodic payments under the Contract that begins on the Annuity Date and continues for a specified period of time.

Base Value: The amount used to calculate an Indexed Account’s (a) Interim Value, and (b) Indexed Interest at the end of the Interest Term. On the first day of the Interest Term, the Base Value is the amount allocated to the Indexed Account. Except on the last day of the Interest Term, during the Interest Term the Base Value equals the amount allocated to the Indexed Account on the first day of the Interest Term reduced for any partial withdrawals from the Indexed Account based on the proportion of the Indexed Account Value that was withdrawn. The Base Value is not a cash value under the Contract.

Beneficiary: The person(s) or entity (or entities), designated by the Owner(s) to receive the Death Benefit.

Business Day: Any day that the New York Stock Exchange (“NYSE”) is open for regular trading. A Business Day ends at the same time that regular trading on the NYSE closes (typically, 4:00 pm Eastern Time).

Cash Surrender Value: The Cash Surrender Value before Annuity Payments begin equals the Contract Value minus any Surrender Charge and any applicable taxes payable by us and not previously deducted.

Contract: This single premium deferred index-linked annuity that is an agreement between Symetra Life and you, as the Owner.

Contract Anniversary: Any calendar year anniversary of the Contract Date.

Contract Date: The first Business Day that the Contract is in force and the date from which we measure the Contract Anniversaries and Contract Years. The Contract Date is shown on your Contract data page.

Contract Value Prior to the Allocation Date, the Contract Value is equal to the Fixed Holding Account value. On or after the Allocation Date, the Contract Value is equal to the Fixed Account Value plus the sum of the Indexed Account Values.

Contract Year: The 12-month period starting on the Contract Date and each anniversary of your Contract Date while the Contract remains in force.

Crediting Method: The Contract provides for one or more Crediting Methods. The Crediting Method is used to calculate the Indexed Interest for an Indexed Account at the end of the Interest Term.

Death Benefit: The greater of (a) the Contract Value; or (b) the Purchase Payment reduced proportionally by the percentage reduction in the Indexed Account Values(s) and the Fixed Account Value for each partial withdrawal.

Fixed Account: The option in the Contract that provides for interest and is subject to a guaranteed minimum interest rate.

Fixed Account Guaranteed Minimum Interest Rate: The minimum interest rate that will be credited to amounts allocated to the Fixed Account after the Allocation Date and to Purchase Payments held in the Fixed Holding Account through the Allocation Date. The Fixed Account Guaranteed Minimum Interest Rate is shown on your Contract data page.

Fixed Account Value: The Fixed Account Value is equal to the Purchase Payment amount initially allocated to the Fixed Account or the Fixed Account Value on the most recent Contract Anniversary, whichever is applicable, including any transfers, plus any interest credited by us less any withdrawals taken including any Surrender Charges and less any other applicable fees.

Fixed Holding Account: The account in which your Purchase Payment is held until the Allocation Date. The Fixed Holding Account provides for guaranteed interest, subject to a guaranteed minimum interest rate.

General Account: The account that holds all assets of Symetra Life including all assets held in the Fixed Holding Account, the Fixed Account, and the Separate Account. 

Guaranteed Minimum Indexed Interest Cap: The minimum Indexed Interest Cap for any Indexed Account. The Guaranteed Minimum Indexed Interest Cap is shown on your Contract data page.

Home Office: Our address as shown on your Contract data page where communications must be sent.

Income Phase: The period beginning on the Annuity Date during which the Payee receives Annuity Payments.

Index: The market index used to determine the Index Return for an Indexed Account.

Index Return: The percentage change in the Index Value of an Index from the start of the Interest Term to the end of the Interest Term before any applicable adjustment for the Indexed Interest Cap and either the Indexed Interest Buffer or Indexed Interest Floor.

Index Value: The closing value of the Index on any Business Day. If an Index Value is not published for a Business Day, we will use the closing Index Value from the next Business Day.

Indexed Account: The portion of Contract Value that can be either increased or decreased by the performance of an Index. Each Indexed Account has an associated Index, Indexed Interest Cap, Crediting Method and an Indexed Account Value. Each Indexed Account also includes the Return Lock feature.

Indexed Account Value: The Indexed Account Value is equal to the Interim Value on any Business Day except the first and last day of the Interest Term. On the first day of the Interest Term the Indexed Account Value equals the Base Value. On the last Business Day of the Interest Term, the Indexed Account Value equals the Base Value multiplied by the sum of 1 plus the Adjusted Index Return.

Indexed Interest: The dollar amount of interest credited, either positive, negative, or equal to zero, to an Indexed Account at the end of an Interest Term.

Indexed Interest Buffer: The maximum negative Index Return that will not result in a negative Adjusted Index Return being credited to the Indexed Account Value at the end of an Interest Term.

Indexed Interest Cap: The maximum Adjusted Index Return that can be credited under an Indexed Account for an Interest Term. The initial Indexed Interest Cap applies to the initial Interest Term. Any Indexed Interest Caps, other than the initial Indexed Interest Cap, are set in our sole discretion but will not be less than the Guaranteed Minimum Indexed Interest Cap.

Indexed Interest Floor: The maximum negative Adjusted Index Return that can be credited under an Indexed Account at the end of an Interest Term.

Interest Term: For the Fixed Account, the period shown on your Contract data page over which interest is credited at a specified declared rate. For any Indexed Account, the period shown on your Contract data page over which performance of an Index is measured to determine Indexed Interest.

Interim Value: The Interim Value is the Indexed Account Value on any Business Day during an Interest Term except the first and last Business Days of the Interest Term.

Owner: The person(s) or legal entity named on the Contract application, unless changed. The Owner is entitled to exercise all rights and privileges under the Contract. If there is a joint Owner, the term Owner as used in the Contract includes the joint Owner named on the application, unless changed.

Payee: The person(s) or entity (or entities) designated by you to receive Annuity Payments during the Income Phase. You are the Payee unless you designate another person or an entity as the Payee.

Purchase Payment: The single premium paid to us under the Contract, less any applicable taxes due at the time this payment is made.

Return Lock: A feature of each Indexed Account which allows you to elect to set the Indexed Account Value equal to the Interim Value as of the Return Lock Date. If you exercise the Return Lock feature your Indexed Account Interim Value will not change through the end of the current Interest Term unless you take a withdrawal.

Return Lock Date: The Business Day on which we process your request to exercise the Return Lock.

Separate Account: The Separate Account as shown on your Contract data page.

Surrender Charge: The percentage by which we will reduce your Contract Value when you take a withdrawal during the Surrender Charge Period. The Surrender Charge percentage and Surrender Charge Period are shown in your Contract data page.

Surrender Charge Period: The Contract Years during which the Surrender Charge exceeds 0%. After the Surrender Charge Period, no Surrender Charge applies.

THE ANNUITY CONTRACT

ABOUT THE CONTRACT
The Contract is an agreement between Symetra Life and you, the Owner, where we promise to pay the Payee (you or someone you choose) an income in the form of Annuity Payments, beginning on the date you select, or a Death Benefit.

Purchase Payment 
You purchased the Contract with the Purchase Payment you paid, and the Contract became effective on the Contract Date as shown on your Contract data page. The Purchase Payment is shown on your Contract data page.

We reserve the right to reject any Purchase Payment that exceeds $1 million.

The Purchase Payment must be in lawful currency of the United States and submitted to our Home Office, or in a manner agreed to by us. The Purchase Payment is subject to acceptance and approval by Symetra Life. If we do not accept a Purchase Payment, we will return it to you.

OWNER 
On the Contract Date, the Owner(s) must not have exceeded the maximum issue age as shown on your Contract data page. If the Contract is owned by joint Owners, the signatures of both Owners are needed to exercise rights under the Contract, unless we are directed otherwise by both joint Owners in writing. An Owner who is a non-natural person (for example, a corporation or a trust) may not name a joint Owner.

Ownership changes may be requested by sending us a signed and dated request. We reserve the right to refuse our consent to any ownership change request or assignment at any time. See “Assignment of Benefits” below.

If you designate someone else as Owner, that person must not have exceeded the maximum issue age on the Contract Date. Unless you specify otherwise, a change of ownership is effective as of the date you signed the request of change, subject to any payments made or actions we may take prior to receipt of the request.

ANNUITANT
You may change the Annuitant by sending us a signed and dated request. Any change of Annuitant designation is effective as of the date you signed the request of change, subject to any payments made or actions we may take prior to receipt of the request. If you designate someone else as Annuitant, that person must not have exceeded the maximum issue age on the Contract Date, and cannot exceed the maximum annuitization age, as shown on your Contract data page, when Annuity Payments begin.

An Owner that is a non-natural person (for example, a corporation or a trust) may not change the Annuitant.

BENEFICIARY 
The Beneficiary receives any Death Benefit payable in accordance with the provisions of the Contract. You initially name your Beneficiary(ies) on the application.

You may change your Beneficiary designation at any time by sending us a signed and dated request. However, if a Beneficiary designation is irrevocable, that Beneficiary must consent in writing to any change. Unless you specify otherwise, a change in Beneficiary designation is effective as of the date you signed the request of change, subject to any payments made or actions we may take prior to receipt of the request. A new Beneficiary designation revokes any prior designation. We are not responsible for the validity of any Beneficiary designation.

CONTRACT VALUE AND INTEREST CREDITING

FIXED HOLDING ACCOUNT 
The Purchase Payment, less any applicable taxes, will be allocated on the Contract Date to the Fixed Holding Account. This amount will earn interest at the Fixed Holding Account interest rate until the Allocation Date. The Fixed Holding Account interest rate will never be less than the Fixed Account Guaranteed Minimum Interest Rate shown on your Contract data page. The Fixed Holding Account is part of our General Account.

ALLOCATION 
On the Allocation Date, the Contract Value will be allocated between the Fixed Account and the Indexed Account(s) according to the percentages you specified on your application.

Interest Term 
The initial Interest Term begins on the Allocation Date and ends on the 7th or 21st calendar day of the month that is closest to an anniversary of your Allocation Date. Subsequent Interest Terms are consecutive and will also begin and end on the 7th or 21st calendar day of the month that is closest to an anniversary of your Allocation Date. If any of those days are not Business Days, the beginning and/or ending dates will be the next Business Day. The length of the Interest Terms are shown on your Contract data page.

FIXED ACCOUNT 
Any portion of the Contract Value allocated to the Fixed Account after the Allocation Date will earn interest at the fixed account interest rate. The Fixed Account is part of our General Account. The fixed account interest rate will not be less than the Fixed Account Guaranteed Minimum Interest Rate.

Fixed Interest 
The initial fixed account interest rate applies from the Contract Date through the end of the initial Interest Term and is shown on the Contract data page. At the end of each Interest Term, we will declare, at our discretion, a new fixed account interest rate for each subsequent Interest Term. Any adjusted rate will apply for the next Interest Term, when the rate can again be adjusted. The fixed account interest rate will never be less than the Fixed Account Guaranteed Minimum Interest Rate shown on your Contract data page.

Fixed Account Value 

After the Allocation Date, the Fixed Account Value equals: the portion of the Contract Value allocated to the Fixed Account on the Allocation Date; plus any amount transferred into the Fixed Account from any Indexed Account; minus any subsequent deductions for withdrawals, any Surrender Charge, or applicable taxes; minus any amount subsequently transferred out of the Fixed Account to an Indexed Account; plus any fixed interest credited by us.

INDEXED ACCOUNT(S) 
The Contract provides one or more Indexed Accounts. An Indexed Account is comprised of an Index, Indexed Interest Cap, and a Crediting Method. The Index(es) and Crediting Methods available on the Contract Date are shown on your Contract data page. The initial Indexed Interest Cap(s) is declared by us on your Contract Date and is shown on the Contract data page. We reserve the right to offer any combination of Indexed Accounts. We reserve the right to add or remove any Index and/or Crediting Method subject to any necessary regulatory approvals. After the Surrender Charge Period, we reserve the right to offer only a Fixed Account option.

Indexed Interest 
Each Indexed Account receives Indexed Interest that may be positive, negative, or equal to zero. It is calculated and credited on the last day of the Interest Term. If the Indexed Interest is negative, your Indexed Account Value may decrease. This means you may lose money. Deductions from the Indexed Account Value for withdrawals and any Surrender Charge and taxes during an Interest Term receive no Indexed Interest.

The Indexed Interest is equal to the Base Value as of the last day of the Interest Term multiplied by the Adjusted Index Return.

Indexed Interest Cap 
For Indexed Accounts, we will declare an Indexed Interest Cap for each Interest Term. Subsequent Indexed Interest Caps may be higher or lower than the initial Indexed Interest Cap, but will never be less than the Guaranteed Minimum Indexed Interest Cap, as shown on your Contract data page. Subsequent Indexed Interest Caps may differ from the Indexed Interest Cap used for new Contracts.

Indexed Interest Buffer 
Each Indexed Account may have a different Indexed Interest Buffer which is shown on your Contract data page. An Indexed Interest Buffer is established on the Contract Date and will not change while the Contract is in force.

Indexed Interest Floor 
Each Indexed Account may have a different Indexed Interest Floor which is shown on your Contract data page. An Indexed Interest Floor is established on the Contract Date and will not change while the Contract is in force.

Indexed Account Value 
The Indexed Account Value is equal to the Interim Value on any Business Day except the first and last day of the Interest Term. On the first day of the Interest Term the Indexed Account Value equals the Base Value. On the last day of the Interest Term, the Indexed Account Value equals the Base Value multiplied by the sum of 1 plus the Adjusted Index Return.

Discontinuation or Substantial Change to an Index 
If any Index is discontinued or if the calculation of any Index is changed substantially, we reserve the right to substitute a comparable Index. We will seek any necessary approvals and give you written notice of any substitutions.

RETURN LOCK 
On any Business Day during the Interest Term, you may exercise the Return Lock feature for any Indexed Account. This feature may be exercised only once in any Interest Term for an Indexed Account. If you exercise this feature the Indexed Account Value becomes equal to the Interim Value on the Return Lock Date. The Indexed Account Value will remain equal to this value for the remainder of the Interest Term but is reduced by the amount of any withdrawals taken before the end of the current Interest Term. If you exercise the Return Lock, no Indexed Interest is credited at the end of the current Interest Term. The Return Lock must be exercised for the full Indexed Account Value.

The Return Lock Date is the date upon which we process your request. If we receive your Return Lock election before the end of a Business Day, the Return Lock Date will be the next Business Day. If we receive your election after the end of a Business Day, the Return Lock Date will be the Business Day following the next Business Day.

TRANSFERS 
At the end of each Interest Term, you may elect to transfer your Contract Value between the Fixed Account and any Indexed Account(s) and between Indexed Account(s).

To be effective, any transfer request must be received by us at least two Business Days prior to the end of an Interest Term. We will accept transfer requests in writing, or at our discretion, by telephone, or if available, electronically. All transfers will be effective at the end of the Interest Term after any applicable interest is credited. We will not be liable for any failure to question or challenge such request for transfer as long as there is a valid authorization on record. If we do not receive a transfer request from you at least two Business Days prior to the end of the Interest Term, your allocations will remain the same and no transfers will occur.

If an Indexed Account in which you are invested is no longer offered and we do not receive a transfer request out of the Indexed Account, then any amount in that Indexed Account will be transferred to the Fixed Account.

The value of any Indexed Account must be at least $2,000. If any transfer reduces an Indexed Account Value to less than $2,000, that entire Indexed Account Value will be transferred to the Fixed Account.

CASH SURRENDER VALUE 
The Cash Surrender Value before Annuity Payments begin equals the Contract Value minus any Surrender Charge and any applicable taxes payable by us and not previously deducted.

INTERIM VALUE 
The Interim Value is the value of the Indexed Account on any Business Day during the Interest Term except the first day and the last day of the Interest Term. We calculate the Interim Value at the end of each Business Day. The Interim Value may change each Business Day and this change may be either positive or negative. The Interim Value calculation is not directly based on the value of the Index.

The Interim Value is the amount available in the Indexed Accounts for partial or full withdrawals, annuitization, and Death Benefit.

The Interim Value is calculated by determining the value of a specific set of hypothetical derivatives. The value is determined by an option pricing formula. Our Interim Value calculation methodology is on file with the insurance supervisory official in the jurisdiction in which this Contract is issued.

The method in which we calculate the Interim Value for an Indexed Account with a Crediting Method that includes an Indexed Interest Buffer differs from the method in which we calculate the Interim Value for an Indexed Account with a Crediting Method that includes an Indexed Interest Floor. 

WITHDRAWALS

WITHDRAWALS 
At or prior to the commencement of the Income Phase, you may withdraw all or part of your Contract Value by sending a request to our Home Office. A withdrawal may have a Surrender Charge. If you withdraw all of your Contract Value, all benefits under the Contract will terminate. If you withdraw part of your Contract Value the withdrawal will be deducted pro-rata from the Fixed Account and the Indexed Account(s) unless you tell us otherwise.

WITHDRAWAL RESTRICTIONS 
Each withdrawal must be at least $500. If any withdrawal would reduce the Contract Value to less than $2,000, the remaining balance will also be withdrawn and the Contract will be terminated.

CHARGES AND TAXES

The following charges may apply to your Contract:

SURRENDER CHARGE 
A Surrender Charge may be assessed on withdrawals from your Contract Value. The charge is a percentage of the amount of the Contract Value withdrawn. The Surrender Charge schedule is shown on your Contract data page.

WAIVER OF CHARGES 
The following “Waiver of Charges” section describes the waivers that may apply to your Contract.

Free Withdrawal Amount 
After the Allocation Date, each Interest Term you may withdraw without Surrender Charge the greater of (1) or (2) below.

		
	(1)
	The free withdrawal percentage of the Contract Value as of the beginning of the current Interest Term. The free withdrawal percentage is shown on the Contract data page. If you take more than one withdrawal in an Interest Term, the previous withdrawals during the Interest Term are taken into account to determine whether more than the free withdrawal percentage has been withdrawn in that Interest Term.

		
	(2)
	The accumulated interest earned in the Contract less any accumulated interest withdrawn previously as of the beginning of the current Interest Term. 

Repetitive Withdrawals and Annuity Payments 
Surrender Charges will not be assessed on repetitive withdrawals and Annuity Payments. Repetitive withdrawals are withdrawals that are equal or substantially equal and are expected to deplete the Contract Value over your life expectancy or the joint life expectancies of you and your joint Owner (or, if applicable, you and your Beneficiary). However, if you take additional withdrawals or otherwise modify or stop the repetitive withdrawals, the repetitive withdrawals taken during the Contract Year will be included when determining whether more than the free withdrawal percentage of the Contract Value has been withdrawn.

Nursing Home Waiver  
Any applicable Surrender Charges may be waived for withdrawals taken after any Owner has been confined to a hospital or nursing home for 30 consecutive days if:

		
	•
	the confinement begins after the Contract Date; and

		
	•
	the withdrawal is taken during confinement or within 90 days after confinement ends.

If you are confined to a hospital or nursing home on the Contract Date, you are not eligible for this waiver of Surrender Charges until after the first Contract Year.

We may require proof of confinement. Proof of confinement may include a billing statement from the hospital or nursing home showing the dates of confinement and service, or a certification of confinement signed by the Owner's attending physician.

If the Contract is owned by a non-natural person as the agent for a natural person, the confinement of the Annuitant will be treated as the confinement of the Owner. In this case, all references to “you” or “Owner” in this Nursing Home Waiver provision are replaced by “Annuitant”.

The 30 day period may be satisfied by confinement in a combination of hospitals and/or nursing homes. Separate periods of confinement beginning within 30 days of the start of a previous 30 consecutive day period of confinement for the same or related condition will be considered the same confinement.

A new 30 consecutive day period will be applied for a confinement due to a new or non-related cause or to a confinement occurring more than 30 days from the most recent confinement for the same or related condition.

“Hospital” is defined in two ways. It is a lawfully-operated institution that is licensed as a hospital by the Joint Commission on Accreditation of Healthcare Organizations, or it is a lawfully-operated institution that provides in-patient treatment under the direction of a staff of physicians and has 24-hour per day nursing services.

“Nursing home” is defined as a facility licensed by the state that provides convalescent or chronic care for in-patients who, by reason of illness or infirmity, are unable to properly care for themselves.

“Physician” means a health care practitioner licensed, board certified or board eligible, who is qualified to practice in the area of medicine or in a specialty appropriate to treat the Owner's condition or disease. It does not include you or a member of your family.

Terminal Illness Waiver 
Any applicable Surrender Charges may be waived for withdrawals if you are terminally ill and are not expected to live more than 12 months if:

		
	•
	a physician certifies to your illness and life expectancy;

		
	•
	you were not diagnosed with the terminal illness as of the Contract Date; and

		
	•
	you have been the Owner continuously since the Contract Date. 

If the Contract is owned by a non-natural person as the agent for a natural person, this waiver applies to the Annuitant. In this case, all references to “you” or “Owner” in this Terminal Illness Waiver provision are replaced by “Annuitant”.

“Physician” means a health care practitioner licensed, board certified or board eligible, who is qualified to practice in the area of medicine or in a specialty appropriate to treat the Owner's condition or disease. It does not include you or a member of your family.

Denial of Waiver Claims 
If we do not waive Surrender Charges for a nursing home confinement or a terminal illness, we will notify you of the denial and will not process the withdrawal until we have received confirmation from you to proceed with the withdrawal.

MINIMUM VALUES 
Payments from the Fixed Account are also subject to minimum amounts required by state law. These minimum amounts only apply upon annuitization from the Fixed Account, payment of the Death Benefit upon death of the Owner, or a total withdrawal from the Fixed Account. We guarantee that if one of these events occurs, then the proceeds from the Fixed Account (the amount applied to annuity payments or paid for a total withdrawal or Death Benefit) will be at least equal to the minimums required by state law. If necessary to meet this minimum, charges will be waived.

INCOME OR OTHER TAXES 
Currently we do not pay income or other taxes on the interest credited to your Contract. If we ever incur such taxes, we reserve the right to deduct them from your Contract.

ANNUITY PAYMENTS

ANNUITIZATION AGE 
You must choose to receive a lump sum or start the Income Phase no later than the maximum annuitization age shown on your Contract data page.

INCOME PHASE 
You may start the Income Phase any time after the first Contract Anniversary. To start the Income Phase, you must notify us in writing at least 30 days prior to the date that Annuity Payments are to begin. Annuity Payments will be made under one of the annuity options described in this Contact or another annuity option that you want and that we agree to provide. We reserve the right to change the payment frequency if payment amounts would be less than $250. If your Contract Value is equal to or less than $2,000, or insufficient to provide a payment of $20 a month, then we may pay you in a lump sum if permitted by state law.

Switching to the Income Phase is irrevocable. Once Annuity Payments begin, you cannot switch back to the Accumulation Phase, change or add an Annuitant, or change the annuity option.

Annuity Options 
During the Income Phase, the Payee (you or someone you choose) receives monthly, quarterly, semi-annual or annual Annuity Payments beginning on the Annuity Date. Annuity payment options based on a life ensure that the 

Annuitant cannot outlive the Annuity Payments. The duration of the Annuitant(s) life/lives determines how long payments continue under the following options:

Life Annuity
The Payee receives Annuity Payments as long as the Annuitant is living. Annuity Payments stop when the Annuitant dies.

Life Annuity with Guaranteed Period 
The Payee receives Annuity Payments for the longer of the Annuitant’s life or a guaranteed period of five or more years as selected by you and agreed to by us. If the Annuitant dies before the end of the guaranteed period, the remaining payments due during the guaranteed period will be made to the Payee designated by the Owner. Annuity Payments stop on the later of the date the Annuitant dies or the date the guaranteed period ends.

Joint and Survivor Life Annuity 
The Payee receives Annuity Payments as long as the Annuitant is living. After the Annuitant dies, the Payee receives a specified percentage of each Annuity Payment as long as the joint Annuitant is living. You name the Payee and payment percentage at the time you elect this option. Annuity Payments stop on the later of the date the Annuitant dies or the date the joint Annuitant dies.

Joint and Survivor Life Annuity with Guaranteed Period 
The Payee receives Annuity Payments for the longer of the Annuitant’s life, joint Annuitant’s life or a guaranteed period. The full Annuity Payment will be paid until the end of the guaranteed period. If the Annuitant is alive when the guaranteed period ends, the full Annuity Payment will continue to be paid. If one Annuitant dies, and the guaranteed period has ended, a percentage of the Annuity Payment amount will continue to be paid to the Payee as long as the surviving Annuitant is alive. You name the joint Annuitant and payment percentage at the time you elect this option. The guaranteed period must be for a period of five or more years as selected by you and agreed to by us. If both Annuitants die and the guaranteed period has ended, the Annuity Payments stop.

Automatic Option 
If you do not choose an annuity option at least 30 days before the latest Annuity Date allowed under the Contract, we will make Annuity Payments under the Life Annuity with guaranteed period annuity option. The guaranteed period will be equal to 10 years, unless a shorter period is otherwise required under the Internal Revenue Code of 1986, as amended.

CALCULATION OF ANNUITY PAYMENTS 
For all annuity options the amount of each Annuity Payment will never be less than the amount calculated by applying the Contract Value to the Annuity Reserve 2012 mortality table with mortality improvement scale G2, with age setback of five years, and an interest rate of 1%. If taxes are required, these taxes will be deducted before the Annuity Payments are calculated.

DEATH BENEFIT

DEATH BENEFIT PROVISIONS 
The following Death Benefit provisions and the Contract shall in all events, be construed in a manner consistent with Section 72(s) of the Internal Revenue Code of 1986, as amended.

Death Benefit The Death Benefit is equal to the greater of (a) the Contract Value; or (b) the Purchase Payment reduced proportionally by the percentage reduction in the Indexed Account Value(s) and the Fixed Account Value for each partial withdrawal, including the impact of any Surrender Charge. The Death Benefit is determined on the day we receive proof of death. After the Annuitant has reached the maximum annuitization age shown on the Contract data page the Death Benefit is no longer applicable.

If the Contract is assigned or you designate someone else as Owner, the Death Benefit will be adjusted to equal the Contract Value as of the date of the assignment or ownership change. If the death of the original Owner precedes the death of the new Owner and the Purchase Payment exceeds the Contract Value as of the date we receive proof of the original Owner’s death, the difference between the Purchase Payment and the Contract Value will be added to the Fixed Account on this date.

DEATH OF ANNUITANT Prior To The Annuity Date 
If the Annuitant is not an Owner and the Annuitant dies before the Annuity Date, you must designate a new Annuitant. If no designation is made within 30 days after we are notified of the death of the Annuitant(s), the oldest Owner named on the application unless subsequently changed will become the Annuitant.

If the Contract is owned by a non-natural person, the death of the Annuitant will be treated as the death of the Owner. In this case, all references to “Owner” and “joint Owner” in these provisions are replaced by “Annuitant” and “joint Annuitant.”

DEATH OF OWNER Prior To The Annuity Date 
If any Owner dies before the Annuity Date, we will pay the Death Benefit to the:

		
	•
	surviving Owner; or if none, then

		
	•
	surviving primary Beneficiary(ies); or if none, then

		
	•
	surviving contingent Beneficiary(ies); or if none, then

		
	•
	the estate of the last Owner to die.

If the sole Beneficiary is the Owner’s spouse, the spouse has the option to continue the Contract and will then be the Owner of the Contract. If the spouse chooses to continue the Contract, any remaining Surrender Charge Period will be waived. If the spouse chooses to continue the Contract and if the Death Benefit exceeds the Contract Value, we will adjust the Contract Value to equal the Death Benefit as of the date we receive proof of death.

Payment of Death Benefit 
To pay the Death Benefit, we require proof of death. Proof of death is a certified copy of a death certificate plus written direction from at least one eligible recipient of the death benefit proceeds regarding how to pay the death benefit payment. If the Death Benefit is payable to an Owner’s estate, we will pay it in a single payment.

We will pay interest on the Death Benefit at the rate required by state law. The Death Benefit may be paid as: a lump sum payment or series of withdrawals that are completed within five years from the date of death; or Annuity Payments made over a person’s life or life expectancy. The life expectancy election must be made within 60 days from our receipt of proof of death. Annuity Payments must begin within one year from the date of death. Once Annuity Payments begin, they cannot be changed.

If a person entitled to receive the Death Benefit dies before the Death Benefit is distributed, we will pay the Death Benefit to that person’s named Beneficiary or, if none, to that person’s estate.

DEATH OF ANNUITANT On Or After The Annuity Date 
If the Annuitant is not the Owner and dies on or after the Annuity Date, then we will continue paying any remaining Annuity Payments to the Payee designated by the Owner.

DEATH OF OWNER On Or After The Annuity Date 
If the Owner dies on or after the Annuity Date, then any amounts paid after the death of the Owner will depend on which annuity option was selected. If the Owner dies while Annuity Payments are being paid under an option based on a life, we will pay any remaining Annuity Payments in accordance with that option. We will pay remaining Annuity Payments at least as rapidly as under the annuity option then in effect. The person or entity with the right to receive the Death Benefit or change the Payee for remaining Annuity Payments is determined as follows:

the surviving Owner; or if none, then the surviving primary Beneficiary(ies); or if none, then the surviving contingent Beneficiary(ies); or if none, then the estate of the last Owner to die.

GENERAL PROVISIONS

ACCOUNT STATEMENTS 
At least once each calendar year of the Accumulation Phase, we will furnish you a statement showing the beginning and ending dates of the current report period, the Contract Value, any applicable Surrender Charge, Cash Surrender Value, Death Benefit, credited interest, any transactions and any other information required by state or 

federal law. Each statement will show information as of a date not more than four months prior to the mailing date. The Owner may request additional statements.

ASSIGNMENT OF BENEFITS 
To the extent allowed by state law, we reserve the right to refuse our consent to any assignment at any time on a nondiscriminatory basis if the assignment would violate or result in noncompliance with any applicable state or federal law or regulations. You may request to assign or transfer your rights under the Contract by sending us a signed and dated request. We will not be bound by an assignment until we acknowledge it.

If your Contract is assigned the Death Benefit will be adjusted to equal the Contract Value as of the date of the assignment. However, if assignment has been permitted, the death of the original Owner precedes the death of the new Owner, and the Purchase Payment exceeds the Contract Value as of the date we receive proof of the original Owner’s death, the difference between the Purchase Payment and the Contract Value will be added to the Fixed Account on this date.

Unless you specify otherwise, an assignment or transfer is effective as of the date you signed the notice of change, subject to any payments made or actions we may take prior to receipt of the notice. We are not responsible for the validity of any assignment or transfer. To the extent allowed by law, payments under the Contract are not subject to legal process for the claims of creditors.

COMMUNICATIONS 
All written communications to you will be addressed to you at your last known address on file with Symetra Life.

All written communications to Symetra Life must be submitted to us at our Home Office.

CONFORMITY WITH LAW 
The Contract was approved under the authority of the state in which it was delivered, as shown on the Contract data page and is subject to its laws. Any provision of the Contract that on the effective date of the provision is in conflict with the laws of the state in which it is delivered, for this product type, is hereby amended to conform to those laws as of the effective date of the provision.

CONTRACT AMENDMENTS 
We may unilaterally amend the provisions of the Contract as required to conform to any state or federal law that affects the Contract. Only an authorized officer of Symetra Life may change the Contract. Any change must be in writing. We reserve the right to change the provisions of the Contract to conform to changes in any applicable provisions or requirements of the Internal Revenue Code.

ENTIRE CONTRACT 
The Contract, Contract data page, and application, as may be amended, and any riders and endorsements are the entire Contract.

ESSENTIAL DATA 
You and each person entitled to receive benefits under the Contract must provide us with any information we need to administer the Contract. We are entitled to rely exclusively on the completeness and accuracy of data furnished by you, and we will not be liable with respect to any omission or inaccuracy.

EVIDENCE OF SURVIVAL 
When any payments under the Contract depend upon any person(s) being alive on a given date, we may require satisfactory proof that the person is living before making such payments.

INCONTESTABILITY 
The Contract and any rider(s) or endorsement(s) presently attached to the Contract are incontestable as to the material facts of the application for the Contract and to the representations of the Owner after such Contract has been in force during the lifetime of the Owner for two years from the Contract Date.

If any rider or endorsement subsequently attached to the Contract provides supplemental benefits that the Owner applied for after the Contract was issued, such rider or endorsement is incontestable as to the material facts of the application for the supplemental benefit and to the representations of the Owner after such rider or endorsement has been in force during the lifetime of the Owner for two years from its date of issue.

Coverage may be contested on a statement contained in an application made a part of the Contract except on the basis of age and sex. The statement on which the contest is based shall be material to the risk accepted or the hazard assumed by us.

JURISDICTION 
In the event of a dispute, the laws of the jurisdiction in which the Contract is delivered will apply.

MISSTATEMENT OF AGE OR SEX 
We may require satisfactory proof of age or sex at any time. If Annuity Payments are based on life or life expectancy and the age or sex of any Annuitant(s) has/have been misstated, Annuity Payments will be based on the corrected information. Underpayments will be made up in a lump sum with the next scheduled payment. Overpayments will be deducted from future payments until the total is repaid. We will credit interest on underpayments at a rate of 0.1% and charge interest on overpayments at a rate of 0.0%.

NONPARTICIPATION 
The Contract is nonparticipating, which means it will not share in any distribution of profits, losses, or surplus of Symetra Life.

SEPARATE ACCOUNT 
The portion of the Purchase Payment that is not allocated to the Fixed Account is invested in the Separate Account shown on the Contract data page. We have exclusive and absolute ownership and control of the assets of the Separate Account. It is a non-unitized separate account. You do not share in the investment performance of assets allocated to the Separate Account. All investment income, gains and losses, whether or not realized, from assets allocated to the Separate Account are borne by the Company. The obligations under this Contract are independent of the investment performance of the Separate Account and are the obligations of the Company. We will maintain in the Separate Account assets with an aggregate value at least equal to the Contract reserves. If the aggregate value of such assets should fall below such amount, the Company will transfer assets into the Separate Account so that the value of the Separate Account’s assets is at least equal to such amount. Assets supporting reserves for annuity benefits under such Contracts, in the course of payment, shall not be maintained in the Separate Account.

SUSPENSION OF PAYMENTS, RETURN LOCK REQUESTS OR TRANSFERS
We may be required to suspend or delay the payment of Death Benefits and withdrawals, the calculation of Annuity Payments, Return Lock requests and transfers when we cannot calculate an Indexed Account Value under any of the following circumstances:

		
	•
	the New York Stock Exchange is closed (other than customary weekend and holiday closings);

		
	•
	the closing value of an Index is not published;

		
	•
	trading on the New York Stock Exchange is restricted;

		
	•
	the calculation of the Interim Value is not reasonably practical due to an emergency; or

		
	•
	during any other period when a regulator, by order, so permits.

If a value for an Index cannot be obtained on any day due to any of these circumstances, the value of the Index on that day will be assumed to be the value of the Index as of the next Business Day that the value is available. If the beginning day of an Interest Term falls on a Business Day for which we cannot obtain an Index Value, the beginning day of the Interest Term will not change.

SUSPENSION OF WITHDRAWALS 
We retain the right to defer payment of withdrawals for a period of 6 months after receiving the request. No death benefit request will be deferred. We will submit a written request to the Insurance Commissioner and wait for written approval prior to deferring any payment of cash value. We will notify you of the payment date and the reason for the delay. The interest rate credited to the Contract during this period will not be less than the rate required by state law.

TERMINATION OF CONTRACT 
The Contract will terminate when we have completed all our duties and obligations under the Contract.

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