Document:

EX 10.1 Credit Agreement Amendment No. 3

EXECUTION COPY
AMENDMENT NO. 3
Dated as of March 10, 2015
to
CREDIT AGREEMENT
Dated as of October 21, 2011
THIS AMENDMENT NO. 3 (this “Amendment”) is made as of March 10, 2015 by and among Cimpress N.V. (the “Parent”), Vistaprint Limited (the “Company”), Vistaprint Schweiz GmbH, Vistaprint B.V. and Vistaprint USA, Incorporated (collectively, the “Subsidiary Borrowers” and, together with the Parent and the Company, the “Borrowers”), the Lenders parties hereto and JPMorgan Chase Bank, N.A., as administrative agent (in such capacity, the “Administrative Agent”), under that certain Credit Agreement, dated as of October 21, 2011, as amended and restated as of February 8, 2013, by and among the Borrowers, the other Subsidiary Borrowers party thereto from time to time, the Lenders and the Administrative Agent (as amended, restated, supplemented or otherwise modified from time to time, the “Credit Agreement”).  Capitalized terms used herein and not otherwise defined herein shall have the respective meanings given to them in the Credit Agreement.
WHEREAS, the Borrowers have requested that the requisite Lenders and the Administrative Agent agree to certain amendments to the Credit Agreement;
WHEREAS, the Borrowers, the Lenders party hereto and the Administrative Agent have agreed to such amendments on the terms and conditions set forth herein;
NOW, THEREFORE, in consideration of the premises set forth above, the terms and conditions contained herein, and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the Borrowers, the Lenders party hereto and the Administrative Agent hereby agree to enter into this Amendment.
1.Amendments to the Credit Agreement.  Effective as of the date of satisfaction of the conditions precedent set forth in Section 2 below, the parties hereto agree that the Credit Agreement is hereby amended as follows:
(a)Section 1.01 of the Credit Agreement is hereby amended to add the following definitions thereto in the appropriate alphabetical order and, where applicable, replace the corresponding previously existing definitions:
“Amendment No. 3 Effective Date” means March 10, 2015.
“Limited Recourse Guarantor” means a Subsidiary Guarantor party to a Limited Recourse Guaranty.
“Limited Recourse Guaranty” means a Guaranty (or supplement thereto adding a Limited Recourse Guarantor) entered into on or after the Amendment No. 3 Effective Date pursuant to which the obligations guaranteed by the Limited Recourse Guarantor thereunder are limited (as determined by the Administrative Agent in its reasonable credit judgment) as to amount, either by reference to one or more specific amounts or mathematical formulas or otherwise by reference to legal concepts or principles required under applicable law or regulation (but excluding any general statutory limitations, including fraudulent transfer or conveyance limitations).

“Subordinated Indebtedness” means any Indebtedness of the Parent or any Subsidiary (other than any such Indebtedness owed to the Parent or any Subsidiary) the payment of which is subordinated to payment of the obligations under the Loan Documents.
(b)The definition of “Material Subsidiary” appearing in Section 1.01 of the Credit Agreement is hereby amended to amend and restate clause (a) of the second proviso thereof in its entirety to read as follows:
“(a) Consolidated Total Assets shall exclude (1) assets that are considered to be intangible assets under GAAP, including customer lists, goodwill, developed technology, copyrights, trade names, trademarks, patents, franchises, licenses, capitalized research, development costs, capitalized software and website development, (2) intercompany receivables or loans between Persons that become Subsidiaries and (3) that portion of the assets of Subsidiaries that are not wholly-owned Subsidiaries that is attributable to the percentage of equity interests not held, directly or indirectly, by the Parent or its wholly-owned Subsidiaries and”
(c)The definition of “New Senior Unsecured Notes” appearing in Section 1.01 of the Credit Agreement is hereby amended to delete the reference to “September 8, 2014” appearing therein and replace it with a reference to “March 10, 2015”.
(d)Section 6.04(d) of the Credit Agreement is hereby amended and restated in its entirety as follows:
“(d)    investments, loans, advances and/or capital contributions made by the Parent in or to any Subsidiary and made by any Subsidiary in or to the Parent or any other Subsidiary (provided that (1) not more than an aggregate amount of $200,000,000 in investments, loans, advances and/or capital contributions may be made and remain outstanding, at any time, by Loan Parties to Subsidiaries which are not Loan Parties (or do not become Loan Parties within forty-five (45) days after the receipt of such investment, loan, advance and/or capital contribution) and (2) in the event of an investment, loan, advance and/or capital contribution to a Limited Recourse Guarantor, only the amount of recourse (as reasonably determined by the Parent at the time of such investment, loan, advance and/or capital contribution and approved by the Administrative Agent in its reasonable credit judgment) with respect to such Limited Recourse Guarantor under the applicable Limited Recourse Guaranty, after giving effect to such investment, loan, advance and/or capital contribution, shall be excluded from this proviso and the remaining balance of such investment, loan, advance and/or capital contribution (less any amount paid, repaid, returned or otherwise distributed in cash by such Limited Recourse Guarantor to the applicable transferor Loan Party in respect of such investment, loan, advance and/or capital contribution, which amount so deducted shall not exceed the original amount of such investment, loan, advance and/or capital contribution) shall only be permissible to the extent of availability under the foregoing $200,000,000 limitation hereunder and/or the $75,000,000 basket in clause (k) below; provided, further, and for the avoidance of doubt, (i) intercompany transfers of intangible assets that are solely effected by bookkeeping entries and that do not otherwise represent an exchange or transfer of assets are not deemed to be investments, loans or advances or capital contributions and are not subject to the $200,000,000 limitation hereunder, (ii) investments, loans or advances and/or capital contributions made by a Loan Party to a Subsidiary that is not a Loan Party shall not be subject to the $200,000,000 limitation hereunder so long as such Subsidiary that is not a Loan Party transfers such investment, loan, advance and/or capital contribution, immediately upon receipt thereof, to a Loan Party, but subject to clause (2) above), (iii) any investment, loan, advance and/or capital contribution that is made to a Subsidiary that is not a Loan Party and that has reduced the availability under the foregoing $200,000,000 limitation in clause (1) above shall no longer reduce such availability from and after the date that such Subsidiary becomes a Loan Party and (iv) any investment, loan advance and/or capital contribution that is made to a Guarantor that is a Limited Recourse Guarantor and that has reduced availability under clause (2) above shall no longer reduce such availability from and after the date that such Guarantor ceases to be a Limited Recourse Guarantor but remains a Guarantor;”
(e)Section 6.04(j) of the Credit Agreement is hereby amended to delete the reference to 

“Amendment No. 2 Effective Date” appearing therein and replace it with a reference to “Amendment No. 3 Effective Date”.
(f)Schedule  6.04 to the Credit Agreement is replaced in its entirety with Schedule 6.04 attached hereto as Annex A.
2.Conditions of Effectiveness.  The effectiveness of this Amendment is subject to the conditions precedent that (i) the Administrative Agent shall have received counterparts of this Amendment duly executed by the Borrowers, the Required Lenders and the Administrative Agent, (ii) the Administrative Agent shall have received counterparts of the Consent and Reaffirmation attached as Exhibit A hereto duly executed by the Subsidiary Guarantors and (iii) the Administrative Agent shall have received payment and/or reimbursement of the Administrative Agent’s and its affiliates’ fees and expenses (including, to the extent invoiced, fees and expenses of counsels for the Administrative Agent) in connection with this Amendment and the other Loan Documents.
3.Representations and Warranties of the Borrowers.  Each Borrower hereby represents and warrants as follows:
(a)This Amendment and the Credit Agreement as amended hereby constitute legal, valid and binding obligations of such Person and are enforceable against such Person in accordance with their terms, subject to applicable bankruptcy, insolvency, reorganization, moratorium or other laws affecting creditors’ rights generally and subject to general principles of equity, regardless of whether considered in a proceeding in equity or at law.
(b)As of the date hereof and after giving effect to the terms of this Amendment, (i) no Default or Event of Default shall have occurred and be continuing and (ii) the representations and warranties of each of the Parent and the other Borrowers set forth in the Credit Agreement, as amended hereby, are true and correct in all material respects (except to the extent such representation or warranty is qualified by materiality or Material Adverse Effect, in which case such representation and warranty shall be true and correct in all respects) as of the date hereof.
4.Reference to and Effect on the Credit Agreement and the other Loan Documents.
(a)Upon the effectiveness hereof, each reference to the Credit Agreement in the Credit Agreement or any other Loan Document shall mean and be a reference to the Credit Agreement as amended hereby.
(b)The Credit Agreement, the Loan Documents and all other documents, instruments and agreements executed and/or delivered in connection therewith shall remain in full force and effect and are hereby ratified and confirmed.
(c)The execution, delivery and effectiveness of this Amendment shall not operate as a waiver of any right, power or remedy of the Administrative Agent or the Lenders, nor constitute a waiver of any provision of the Credit Agreement, the Loan Documents or any other documents, instruments and agreements executed and/or delivered in connection therewith.
(d)This Amendment is a “Loan Document” under (and as defined in) the Credit Agreement.
5.Governing Law.  This Amendment shall be construed in accordance with and governed by the law of the State of New York.
6.Headings.  Section headings in this Amendment are included herein for convenience of reference only and shall not constitute a part of this Amendment for any other purpose.
7.Counterparts.  This Amendment may be executed by one or more of the parties hereto on any number of separate counterparts, and all of said counterparts taken together shall be deemed to constitute one and the same instrument.  Signatures delivered by facsimile or PDF shall have the same force and effect as manual signatures delivered in person.
[Signature Pages Follow]

IN WITNESS WHEREOF, this Amendment has been duly executed as of the day and year first above written.
CIMPRESS N.V.,
as a Borrower

By: /s/Robert Keane
Name: Robert Keane
Title: Chief Executive Officer

VISTAPRINT LIMITED,
as a Borrower

By: /s/Ernst Teunissen
Name: Ernst Teunissen
Title: President

VISTAPRINT SCHWEIZ GMBH,
as a Borrower

By /s/Katryn Blake
Name: Katryn Blake
Title: Managing Director

VISTAPRINT B.V.,
as a Borrower

By: /s/Ernst Teunissen
Name: Ernst Teunissen
Title: Managing Director

VISTAPRINT USA, INCORPORATED,
as a Borrower

By /s/Katryn Blake
Name: Katryn Blake
Title: President

JPMORGAN CHASE BANK, N.A.,
individually as a Lender, as the Swingline Lender, as the Issuing Bank and as Administrative Agent

By: /s/Daglas P Panchal
Name: Daglas P Panchal
Title: Vice President 

FIFTH THIRD BANK,
as a Lender

By: /s/William Gamble
Name: William Gamble
Title: Officer

HSBC BANK USA, NATIONAL ASSOCIATION,
as a Lender

By: /s/David A. Carroll
Name: David A. Carroll
Title: Senior Vice President 

SANTANDER BANK, N.A.,
as a Lender

By: /s/Scott Wollard
Name: Scott Wollard
Title: Managing Director

MUFG UNION BANK, N.A.,
as a Lender

By: /s/Christine Davis
Name: Christine Davis
Title: Director
SUNTRUST BANK,
as a Lender

By: /s/Brian Guffin
Name: Brian Guffin
Title: Director

CITIZENS BANK, N.A.,
as a Lender

By: /s/Peter van der Horst
Name: Peter van der Horst
Title: Senior Vice President 

PNC BANK, NATIONAL ASSOCIATION,
as a Lender

By: /s/Robert M. Martin
Name: Robert M. Martin
Title: Senior Vice President

BANK OF AMERICA, N.A.,
as a Lender

By: /s/Elizabeth A.S. Boyamian
Name: Elizabeth A.S. Boyamian
Title: Vice President

KEYBANK NATIONAL ASSOCIATION,
as a Lender

By: /s/James A Gelle
Name: James A Gelle
Title: Vice President
CAPITAL ONE, NATIONAL ASSOCIATION,
as a Lender

By: /s/Andrew J. Bella
Name: Andrew J. Bella
Title: Authorized Signatory

FIRST NIAGARA BANK, N.A.,
as a Lender

By: /s/Robert Dellatorre
Name: Robert Dellatorre
Title: Vice President

GOLDMAN SACHS BANK USA,
as a Lender

By: /s/Michelle Latzoni
Name: Michelle Latzoni
Title: Authorized SignatoryEX-4.b

Table of Contents

 The United States Life Insurance Company in the City of New York 

A STOCK COMPANY        NEW YORK, NEW YORK 

CONTRACT NUMBER                [P9999999999] 

OWNER                         
                [JOHN DOE]  

															
			 

		 HOME OFFICE

One World Financial Center

200 Liberty Street

NEW YORK, NEW YORK 10281
		 

				 

		 ANNUITY SERVICE CENTER

PO BOX 54299
 LOS ANGELES, CA
90054-0299
		 

 THE UNITED STATES LIFE INSURANCE COMPANY IN THE CITY OF NEW YORK (“We”, “Us”, the
“Company”, or “US Life”) agrees to provide benefits to the Owner in accordance with the provisions set forth in this Contract and in consideration of the Application and Purchase Payments We receive. 

The value of amounts allocated to the Separate Account during the accumulation and annuity periods is not guaranteed, and will increase or
decrease in value based upon the investment experience of the Variable Portfolios You choose. 
 The Separate Account Charge is
charged against the assets of the Separate Account. This charge includes fees for mortality and expense risk and the distribution expense. On an annualized basis the charge equals 1.25%. These charges are assessed, on a simple interest basis, as a
percentage of the average daily ending value of the assets attributable to the Accumulation Units of the Variable Portfolios to which your Contract Value is allocated. The daily charge is 1/365th
of the annualized charge. Thus, the smallest annual effective rate of the investment return that would have to be earned on assets of the Separate Account so that the dollar amount of variable annuity payments will not decrease is 4.80%, compounded
daily. The Contract’s assumed rate of return is based on compound interest. 
 The Dollar Cost Averaging (DCA) Fixed Account
Option(s) may not be available on the Contract Date. Please check with Your registered representative for availability of these options as well as the Contract Data Page, which lists available options. 

This Contract may include one or more endorsement(s) or rider(s) as part of the Entire Contract containing definitions and additional terms
affecting how this Contract may work. You should carefully read the Entire Contract. 
 RIGHT TO EXAMINE – If, within 10 days of
receipt of this Contract (60 days if the Contract replaced any other life insurance or annuity contract(s)) You are not satisfied with it, You may return this Contract to Our Annuity Service Center or to the agent through whom the Contract was
purchased. The Company will refund the Purchase Payment or the Contract Value, whichever is greater, computed as of the business day during which we receive the Contract. Upon such refund, the Contract shall be void. 

For Individual Retirement Annuities, or if a refund of the Purchase Payment(s) is required, We reserve the right to allocate Your Purchase
Payment(s) to the Cash Management Portfolio until the end of the Right To Examine period. 
 With 30 days advance notice, we may cease
offering Dollar Cost Averaging Fixed Account Options if market conditions are such that we are not able to credit the Minimum Guarantee Rate shown on the Contract Data Page. 

Signed at the Home Office on the Contract Date. 

THIS IS A LEGAL DOCUMENT. READ IT CAREFULLY. 
  

 
 For Inquiries Call: [1-800-445-7862]  

[www.aig.com/annuities] 

FLEXIBLE PAYMENT FIXED AND VARIABLE DEFERRED ANNUITY CONTRACT 

Nonparticipating 

  

					
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Table of Contents

 TABLE OF CONTENTS 

 

					
	 Contract Data Page
		 	Page 3	  
		
	 Definitions
		 	Page 4	  
		
	 Purchase Payment Provisions
		 	Page 7	  
		
	 Accumulation Provisions
		 	Page 7	  
		
	 Charges and Deductions
		 	Page 9	  
		
	 Transfer Provisions
		 	Page 9	  
		
	 Withdrawal Provisions
		 	Page 10	  
		
	 Death Benefit Provisions
		 	Page 10	  
		
	 Annuity Provisions
		 	Page 12	  
		
	 General Provisions
		 	Page 14	  
		
	 Annuity Income Payment Options
		 	Page 17	  

  

					
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 CONTRACT DATA PAGE 

Contract Number:
[P9999999999]                             Contract Date: [May 2, 2011] 

Owner: [JOHN DOE]            Date of Birth: [March 1,
1976]            Age at Issue: [35] 
       [Owner:
[JANE DOE]                     Date of Birth: [June 10, 1976]          Age at
Issue: [34] 
 Annuitant: [JOHN
DOE]                      Date of Birth: [March 1, 1976]         Age at Issue:
[35] 
       [Annuitant: [JANE
DOE]               Date of Birth: [June 10, 1976]          Age at Issue: [34] 

Beneficiary: As named by You 
 Initial Purchase
Payment: [$25,000.00]  
 Maximum Purchase Payment Without Our Approval: $1,000,000 

Purchase Payment Age Limit: Prior to the 86th birthday 

Minimum Subsequent Purchase Payment: $500 
 Minimum
Guarantee Interest Rate: [1.0%] 
 With 30 days advance notice, we may cease offering the Dollar Cost Averaging Fixed Account Options if
market conditions are such that we are not able to credit the Minimum Guarantee Rate Shown on this page. 
 DCA Fixed Account Options: [6 Month DCA
Fixed, 1 Year DCA Fixed] 
 Minimum Partial Withdrawal Amount: $1,000 

Minimum Systematic Withdrawal Amount: $100 
 Minimum
Amount Remaining After a Partial Withdrawal: $2,500 
 Minimum Transfer Amount: $100 

Separate Account Charge [(including guaranteed death benefit risk charge of [0.10%])]: [1.35%] 

Annual Contract Maintenance Fee: $50 
 Transfer
Fee: $25 
 Earliest Annuity Date After the Contract Date: 13 Months 

Latest Annuity Date: 1st day of the month following Your 95th Birthday 

Separate Account: FS VARIABLE SEPARATE ACCOUNT 
  

											
	 

		 Optional Elections:
				Optional Election Details:		

		
		
Return of Purchase Payment                  

				See Attached Endorsement USLE-8027 (5/14)			

  

					
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 DEFINITIONS 

Defined in this section are some of the words and phrases used in this Contract. These terms are capitalized when used in the Contract with
the meaning set forth below. 
 ACCUMULATION UNIT 

An Accumulation Unit is a unit of measure used to compute the Contract Value in a Variable Portfolio before the Annuity Date. 

AGE 
 The Age of a person is the attained
age as a person’s last birthday. Unless otherwise defined in an endorsement or rider to this Contract, in the case of Joint Owners/Annuitants, the age of the older person will be used to determine any age-driven benefit. 

ANNUITANT 
 The Annuitant is the natural
person(s) (collectively, “Joint Annuitants”) whose life/lives are used to determine the Annuity Income Payments under the Contract. If the Contract is in force and the Annuitant is alive on the date Annuity Income Payments begin, We will
begin Annuity Income Payments to the Payee. This Contract cannot have Joint Annuitants if it is issued in connection with a tax-qualified retirement plan. 

ANNUITIZATION 
 Annuitization is a series
of periodic Annuity Income Payments. If you select Variable Annuitization, these periodic Annuity Income Payments vary in amount according to investment experience of one or more Variable Portfolios, as selected by You and such payments are made
from the Company’s Separate Account. If You select Fixed Annuitization, these periodic Annuity Income Payments do not vary with investment experience and such payments are made from the Company’s general asset account. 

ANNUITY DATE 
 The Annuity Date is the
date on which Annuity Income Payments to the Payee begin. This date cannot be later than the Latest Annuity Date. 
 ANNUITY SERVICE CENTER 

The Annuity Service Center is the address shown on Page 1 of this Contract where all Purchase Payments and requests regarding this Contract are
to be sent. 
 ANNUITY UNIT 
 An Annuity
Unit is a unit of measure determined on or after the Annuity Date and is used to compute Annuity Income Payments from the Variable Portfolio(s) if Variable Annuitization is selected. 

BENEFICIARY 
 The Beneficiary is selected by You in
Writing and will receive the Death Benefit under this Contract upon Your death. 
 BUSINESS DAY 

Business Day is any day that We are open and the New York Stock Exchange (“NYSE”) is open for trading and generally ends at 4:00 p.m.
Eastern Time. The Business Day is the day in which all financial transactions and requests are deemed to occur when received by Us. 
 CONTINUATION DATE

 The Continuation Date is the date on which We receive, at Our Annuity Service Center: (a) the Spousal Beneficiary’s Written
request to continue the Contract in a form satisfactory to Us; and (b) Due Proof of 

  

					
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Death of the Owner. If We receive (a) and (b) on different dates, the Continuation Date will be the later date. 

CONTRACT ANNIVERSARY 
 The date that
occurs on the same month and date as the Contract Date for each Contract Year. The first Contract Anniversary is one (1) year after the Contract Date on the same month and date of the following Contract Year. 

CONTRACT DATE 
 The Contract Date is the
date Your Contract is issued, as shown on the Contract Data Page. It is the date from which Contract Years and Contract Anniversaries are measured. 

CONTRACT VALUE 
 The Contract Value is the
sum of: (1) Your share of the Variable Portfolios’ Accumulation Unit Values; and (2) the value of amounts if any, allocated to any available DCA Fixed Account Option(s). 

CONTRACT YEAR 
 The one (1) year
period starting from the Contract Date in one (1) calendar year and ending on the date preceding the Contract Anniversary in the following calendar year, and every year thereafter. 

DOLLAR COST AVERAGING (DCA) 
 Dollar Cost
Averaging is an optional program under which You authorize the systematic transfer of specified amounts or percentages from any Variable Portfolio(s) or any available DCA Fixed Account Option into any Variable Portfolio(s) other than the source
account. 
 DCA FIXED ACCOUNT OPTION(S) 

The DCA Fixed Account Option(s) are investment options, if available under this Contract,that become part of the Company’s general asset
account and are credited with a fixed rate of interest declared by the Company. The general asset account contains all the assets of the Company except for the Separate Account and other segregated asset accounts. The amount You have in any DCA
Fixed Account Option at a given time is a result of Purchase Payment(s) You have allocated to it. 
 IRC 

IRC refers to the Internal Revenue Code of 1986, as amended, or as it may be amended or superseded. 

JOINT OWNER 
 A Joint Owner is any person
named as Joint Owner on the Application for a non-qualified contract and listed on the Contract Data Page, unless subsequently changed. The Joint Owner, if any, possesses an undivided interest in this Contract in conjunction with the Owner. All
references within this Contract to Owner will also apply to the Joint Owner. 
 LATEST ANNUITY DATE 

The Latest Annuity Date is the first day of the month following the 95th Birthday of the
Owner, shown on the Contract Data Page. If the Contract is owned by Joint Owners, the Latest Annuity Date is based on the older Owner’s date of birth. If the Owner is a non-natural person, the Latest Annuity Date is the first day of the month
following the 95th Birthday of the Annuitant. If the Contract is owned by a non-natural person and has Joint Annuitants, the Latest Annuity Date is based on the older Annuitant’s date of
birth. The Latest Annuity Date is the date upon which Annuity Income Payments must begin or the Contract must be surrendered. 
 OWNER 

  

					
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 The Owner is the natural person or entity named in the Contract who is entitled to exercise all
rights and privileges of ownership under the Contract. Owner means both Joint Owners, if applicable. If there are Joint Owners, the authorizations of both Joint Owners are required In Writing for all Contract changes and the exercise of any other
rights of ownership. 
 PAYEE 
 The person receiving
Annuity Income Payments under this Contract. 
 PURCHASE PAYMENTS 

Purchase Payment(s) are payment(s) in U.S. currency made by or on behalf of the Owner to the Company to purchase the Contract. 

REQUIRED DOCUMENTATION 
 Required
Documentation must be received by Us at Our Annuity Service Center and is: (a) Due Proof of Death of the Owner before the Annuity Date; (b) an election form specifying the Annuity Income Payment options; and (c) any other
documentation We may require. 
 SEPARATE ACCOUNT 

The Separate Account is a segregated asset account named on the Contract Data Page. The Separate Account consists of Variable Portfolios, each
investing in shares of the Underlying Fund(s). The assets of the Separate Account are not commingled with the general assets and liabilities of the Company. Income, gains and losses, whether or not realized, from assets allocated to the Separate
Accounts shall be credited to or charged against the applicable Separate Account without regard to other income, gains, or losses of the Company. We will maintain Separate Account assets with a value at least equal to the amounts accumulated in
accordance with the applicable agreements with respect to this Separate Account, and also the reserves for variable annuities in the course of payment. The portion of the assets of the Separate Account not exceeding the reserves and other contract
liabilities shall not be chargeable with liabilities arising out of any other business of Ours. The value of amounts allocated to the Variable Portfolios of the Separate Account is not guaranteed. 

SPOUSAL BENEFICIARY 
 The Spousal
Beneficiary is the surviving spouse of the original deceased Owner. The Spousal Beneficiary is designated as the primary Beneficiary at the time of the Owner’s death and may continue the Contract as the Owner on the Continuation Date. 

SUBSEQUENT PURCHASE PAYMENTS 
 Subsequent Purchase
Payments are Purchase Payments made after the initial Purchase Payment. 
 UNDERLYING FUND 

The Underlying Fund is the underlying investment portfolios in which the Variable Portfolio(s) invest. 

VARIABLE PORTFOLIO 
 A Variable Portfolio
is one or more divisions of the Separate Account which provides for the variable investment options available under this Contract. Each Variable Portfolio has its own investment objective and is invested in the Underlying Fund(s). A Variable
Portfolio is not chargeable with liabilities arising out of any other Variable Portfolio. 
 WE, OUR, US, THE COMPANY 

We, Our, Us, The Company refers to The United States Life Insurance Company in the City of New York. 

WITHDRAWAL(S) 
 Withdrawals are any amount(s) withdrawn by
the Owner from the Contract Value 

  

					
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 WRITTEN, IN WRITING 

Written or In Writing refers to a written request or notice in acceptable form and content to Us, which is signed and dated and is received at
Our Annuity Service Center. 
 YOU, YOUR 
 You, Your
refers to the Owner. 
 PURCHASE PAYMENT PROVISIONS 

PURCHASE PAYMENTS 
 Purchase Payments are
flexible. This means that, subject to Company disclosed restrictions, You may change the amounts, frequency and/or timing of Purchase Payments. Purchase Payments can be made at any time after the Contract Date, but must be received at Our Annuity
Service Center before the Purchase Payment Age Limit, as shown on the Contract Data Page. With instructions from You, Purchase Payments will be allocated to the Variable Portfolio(s) and/or DCA Fixed Account Option(s), if available. We reserve the
right, upon advance notice to You, to: 1) limit the maximum amount of Purchase Payments; and 2) discontinue acceptance of any subsequent Purchase Payment(s). 

DOLLAR COST AVERAGING (DCA) FIXED ACCOUNT OPTION(S) 

Any portion of a Purchase Payment allocated to the DCA Fixed Account Option(s), if available, must be transferred to the Variable Portfolio(s)
within the specified DCA Fixed Account Option period. Upon termination of the DCA program, any amounts remaining in the DCA Fixed Account Option(s) will be transferred to the DCA target allocation(s) for the program being terminated. We reserve the
right to impose a maximum contribution level on Purchase Payments allocated to a DCA Fixed Account Option(s) and/or change the terms and conditions of the DCA program at any time. We reserve the right to cease offering DCA Fixed Account Option(s).
Upon annuitization, any amounts remaining in the DCA Fixed Account Option(s) will be applied to a Fixed Annuitization. The unit values credited and applied to Your Contract are determined on each date of transfer. The minimum contribution amount
that may be allocated to the DCA Fixed Account Option(s) is $600 for the 6 month DCA and $1,200 for the 1 year DCA. 
 CHANGES TO VARIABLE PORTFOLIO
OFFERINGS 
 If the shares of an Underlying Fund should no longer be available for investment by the Separate Account, then We may
substitute shares of another Underlying Fund, for shares already purchased, or to be purchased in the future. At any given time, some Variable Portfolios may not be available for receipt of Purchase Payment(s) or transfer(s). Substitutions may be
necessary and will be carried out in accordance with any applicable state and/or federal laws or regulations. 
 MINIMUM CONTRACT VALUE 

If Your Contract Value falls below the Minimum Amount Remaining After Any Partial Withdrawal, as shown on the Contract Data Page, as a result
of taking partial Withdrawals, subject to applicable state and federal laws, rules and regulations, We may treat Your partial Withdrawal request as a request for a total Withdrawal and terminate Your Contract. 

ACCUMULATION PROVISIONS 

  

					
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 Your Contract provides for an accumulation phase and an income phase. During the accumulation
phase, Your Purchase Payment(s) received prior to the annuity date are allocated among any available DCA Fixed Account Option(s) and/or one or more of the Variable Portfolio(s) in Your Contract. During the income phase, payments under an Annuity
Payment Option selected by You are made to You or Your designated Payee. 
 SEPARATE ACCOUNT ACCUMULATION VALUE 

The Separate Account Accumulation Value under the Contract is the sum of the Accumulation Unit Values held in the Variable Portfolios for You.
The Company does not hold itself out to be a trustee of the Separate Account. 
 NUMBER OF ACCUMULATION UNITS 

Your Contract is credited with Accumulation Units of the Separate Account when amounts are allocated to the Variable Portfolio(s). For that
portion of each Purchase Payment and/or transfer amount allocated to a Variable Portfolio, the number of Accumulation Units credited is equal to: 

The sum of each Purchase Payment and/or transfer amount allocated to the Variable Portfolio reduced by any applicable premium
taxes: 
 Divided by 

The Accumulation Unit Value for that Variable Portfolio for the Business Day in which the Purchase Payment or transfer amount
is allocated to the Variable Portfolio. 
 The number of Accumulation Units will be reduced for Withdrawals, Annuitizations, amounts
transferred out of a Variable Portfolio, the Contract Maintenance Fee, if applicable, and applicable charges for any elected features as set forth in endorsements or riders to this Contract. Any reduction to the Contract Value will be made as of the
Business Day in which We receive all requirements In Writing for the transaction, as appropriate. 
 ACCUMULATION UNIT VALUE (AUV) 

The AUV of a Variable Portfolio for Business Day is determined as follows: 
  

	 	1.	 We calculate the Net Investment Rate by dividing (a) by (b) minus (c) where: 

 

	 	(a)	 is the Variable Portfolio’s income and capital gains and losses (whether realized or unrealized) on the current Business Day;

  

	 	(b)	 is the value of the Variable Portfolio for the immediately preceding Business; and 

 

	 	(c)	 is the daily Separate Account charge. 

  

	 	2.	 We calculate the AUV by multiplying (d) by [1+(e)] where: 

 

	 	(d)	 is the AUV of the immediately preceding Business Day; and 

 

	 	(e)	 is the Net Investment Rate of the current Business Day. 

DCA FIXED ACCOUNT ACCUMULATION VALUE 

  

					
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 The DCA Fixed Account Accumulation Value, if any, is the sum of all amounts allocated to the DCA
Fixed Account Option(s), if available, reduced by any applicable premium taxes, plus all interest credited to the DCA Fixed Account Option(s) during the period that You have Contract Value allocated to the DCA Fixed Account Option(s). This amount
will be adjusted for Withdrawals, Annuitizations, transfers, the Contract Maintenance Fee, if applicable and allowed by Your state, and applicable charges for any elected features as set forth in endorsements/riders to this Contract. The DCA Fixed
Account Accumulation Value will not be less than the minimum values required by law in the state where this Contract is issued. 
 DCA FIXED ACCOUNT
OPTIONS AND INTEREST CREDITING 
 The portion of Your Contract Value within the DCA Fixed Account Option(s), if any, is credited with
interest at rates guaranteed by Us for the DCA Fixed Account(s) selected. Interest is credited on a daily basis at the applicable effective interest rate for the applicable DCA Fixed Account. You may select from one or more DCA Fixed Account which
We may offer at any particular time. We reserve the right at any time to add or discontinue DCA Fixed Account(s). A written notification will be provided to the Owner at least 30 days prior to the discontinuation of a DCA Fixed Account. If You have
allocated any part of Your initial Purchase Payment to a DCA Fixed Account, the percentage allocated, as well as the duration of the DCA Fixed Account, is shown on the administrative election form as completed by You. 

The interest rate applicable to the allocation of a Purchase Payment to a DCA Fixed Account Option is the rate in effect for the applicable
DCA Fixed Account at the time of the allocation. If You have allocated amounts at different times to any available DCA Fixed Account Option(s), each allocation may have a unique effective interest rate associated with that amount. We guarantee that
the effective rate of interest for any available DCA Fixed Account Option(s) will not be less than the Minimum Guarantee Interest Rate as mandated by Your state, and shown on the Contract Data Page. 

CHARGES AND DEDUCTIONS 

We will deduct the following charges from the Contract: 

CONTRACT MAINTENANCE FEE 
 The charge, as
shown on the Contract Data Page, if applicable, will be deducted on each Contract Anniversary on or prior to the Annuity Date. It will also be deducted when the Contract Value is withdrawn in full if the Withdrawal is not on the Contract
Anniversary. We reserve the right to waive the fee for Contract Values of $75,000.00 and up. 
 SEPARATE ACCOUNT CHARGE 

This charge, as shown on the Contract Data Page, on an annualized basis equals a percentage of the average daily ending value of the assets
attributable to the Accumulation Units of the Variable Portfolio(s) to which all or part of the Contract Value is allocated. This charge compensates Us for the mortality and expense risk and the costs of contract distribution assumed by Us. We
subtract this charge daily from the Separate Account. 
 TRANSFER FEE 

We permit 15 free transfers between Variable Portfolios each Contract Year. We may charge You a fee, as shown on the Contract Data Page, for
each additional transfer in that Contract Year, except for transfers made as part of an automated transfer program. 
 
TRANSFER PROVISIONS 

  

					
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 Subject to applicable restrictions, You may transfer all or part of Your Contract Value amongst
the Variable Portfolios (unless otherwise noted). The minimum amount that can be transferred is subject to the Minimum Transfer Amount, as shown on the Contract Data page. The amount that can remain in a Variable Portfolio is subject to Company
limits. We reserve the right to restrict Your transfer privileges. 
 Due to the risks that frequent transfers impose upon Owners and other
investors in Variable Portfolio(s) and/or Underlying Funds, We or the manager of an Underlying Fund may limit transfer and impose other requirements to minimize these risks, including but not limited to, requiring a minimum amount that can be
transferred, and an amount that can remain in a Variable Portfolio after a transfer. 
 TRANSFERS BEFORE THE ANNUITY DATE 

Before the Annuity Date, transfers are subject to certain restrictions as indicated above and on the Contract Data Page. You may transfer all
or a portion of Your Contract Value from one Variable Portfolio to another Variable Portfolio(s) A transfer to a Variable Portfolio will result in the redemption of Accumulation Units in a Variable Portfolio and the purchase of Accumulation Units in
the other Variable Portfolio. Transfers will be effective at the end of the Business Day on which We receive Your completed Written transfer request. 

Unless You instruct Us to make a transfer, Your allocation to any available Variable Portfolio(s) will remain unchanged, subject to the terms
of the Contract. We reserve the right to terminate Your ability to transfer to any discontinued Variable Portfolio(s). A written notification will be provided to You at Your last known address prior to any such termination of Your ability to
transfer. 
 TRANSFERS AFTER THE ANNUITY DATE 

On and after the Annuity Date, you may transfer all or a portion of Your Annuity Units from one Variable Portfolio to another Variable
Portfolio(s). A transfer will result in the redemption of Annuity Units in a Variable Portfolio and the purchase of Annuity Units in the other Variable Portfolio. Transfers will be effective on the last Business Day of the month on which We receive
Your Written request for the transfer. 
 WITHDRAWAL PROVISIONS 

On or before the Annuity Date and while You are living, You may withdraw all (“total Withdrawal”) or part of Your Contract Value
under this Contract by informing Us In Writing. The Minimum Partial Withdrawal Amount is shown on the Contract Data Page. 
 Unless You tell
Us otherwise in writing, Withdrawals will be deducted from the Contract Value in proportion to their allocation among any available DCA Fixed Account Option(s) and the Variable Portfolio(s). Withdrawals will be based on values for the Business Day
on which the Written request for Withdrawal is received by Us. Payment of the total Withdrawal will terminate this Contract and We will have no further obligations under the Contract. Unless the SUSPENSION OF PAYMENTS or DEFERMENT OF PAYMENTS
provisions are in effect, payment of Withdrawals will be made within seven calendar days. 
 SYSTEMATIC WITHDRAWAL PROGRAM 

Prior to the Annuity Date, You may elect to participate in a Systematic Withdrawal Program by informing Us at Our Annuity Service Center. The
Systematic Withdrawal Program allows You to make automatic Withdrawals from Your Contract monthly, quarterly, semiannually or annually. The Minimum Systematic Withdrawal Amount is shown on the Contract Data Page. You may terminate Your participation
in the Systematic Withdrawal Program at any time by sending Us a Written request. 
 DEATH BENEFIT PROVISIONS

  

					
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 Notwithstanding any provision of this Contract to the contrary, all payments of benefits under
this Contract will be made in a manner that satisfies the requirements of IRC Section 72(s), as amended from time to time. If the Contract is owned by a trust or other non-natural person, We will treat the death of any Annuitant as the death of
the “Primary Annuitant” and as the death of any Owner. 
 DUE PROOF OF DEATH 

Due Proof of Death means any Written proof, which may include but is not limited to: 
  

	 	1.	 a certified copy of a death certificate; or 

	 	2.	 a certified copy of a decree of a court of competent jurisdiction as to the finding of death; or 

	 	3.	 a written statement by a medical doctor who attended the deceased Owner at the time of death. 

DEATH OF OWNER BEFORE THE ANNUITY DATE 

Upon Your death, We will pay a Death Benefit to the Beneficiary upon Our receiving all Required Documentation. Unless You have previously
designated a payment option on behalf of the Beneficiary, the Beneficiary must select one of the following options: 
  

	 	1.	 Immediately collect the Death Benefit in a lump sum payment. If a lump sum payment is elected, payment will be in accordance with any applicable
laws and regulations governing payments on death; or 

  

	 	2.	 Collect the Death Benefit in the form of one of the Annuity Income Payment Options. If an Annuity Income Payment Option is desired, an option must
be elected within 60 days of Our receipt of all Required Documentation. The Annuity Income Payments must be over the life of the Beneficiary or over a period not extending beyond the life expectancy of the Beneficiary. Consistent with applicable tax
rules, payments under this option generally must begin within one year after the Owner’s death, otherwise, the Death Benefit will be paid in accordance with option 1 above; or 

 

	 	3.	 If eligible and You are the Spousal Beneficiary, You may continue the Contract (“Continuing Spouse”). If this option is elected, no Death
Benefit is paid out to the Continuing Spouse on the Continuation Date; or 

  

	 	4.	 A payment option that is mutually agreeable between You and Us. 

The entire interest in the Contract will be distributed within the five year period specified under applicable laws and regulations,
commencing with the date of death of the Owner unless option 2 or 3 was selected under DEATH OF OWNER BEFORE THE ANNUITY DATE. 
 Upon the
Continuing Spouse’s death, the entire interest of the Contract must be distributed immediately under option 1, 2 or 4 as provided under DEATH OF OWNER BEFORE THE ANNUITY DATE. 

AMOUNT OF DEATH BENEFIT 
 The amount of
the Death Benefit is the Contract Value on the Business Day during which We receive all Required Documentation. 
 SPOUSAL BENEFICIARY CONTINUATION

  

					
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 If the Spousal Beneficiary continues the Contract on the Continuation Date (“Continuing
Spouse”), the amount continued is the Death Benefit, which is the Contract Value on the Business Day during which We receive all Required Documentation. 

DEATH OF OWNER OR ANNUITANT ON OR AFTER THE ANNUITY DATE 

If any Owner or Annuitant dies on or after the Annuity Date and before the entire interest in the Contract has been distributed, We will
continue to make payments of any remaining portion of the Annuity Income Payment(s) to the Beneficiary under the existing Annuity Income Payments, if a specified term was elected, upon Our receipt of all Required Documentation. For further
information pertaining to death of the Annuitant, see ANNUITY INCOME PAYMENT OPTIONS. 
 BENEFICIARY 

The Beneficiary is selected by the Owner. While the Owner is living and before the Annuity Date, the Owner may change the Beneficiary by
written notice. A change in Beneficiary will take effect on the date We receive the Written notice. If two or more persons are named as Beneficiaries under the Contract, those surviving the Owner will share equally unless otherwise specified by the
Owner and each must elect to receive their respective portions of the Death Benefit according to the options listed under DEATH OF OWNER BEFORE THE ANNUITY DATE. Joint Owners, if applicable, shall be each other’s primary Beneficiary. Joint
Annuitants, if any, when the Owner is a non-natural person, shall be each other’s primary Beneficiary. Any other Beneficiary designation will be treated as a contingent Beneficiary. 

If the Annuitant survives the Owner, and there are no surviving Beneficiaries, the Annuitant will be deemed the Beneficiary. Joint Annuitants,
if any, when the Owner is a trust or other non-natural person, shall be each other’s primary Beneficiary. Any other Beneficiary designation will be treated as a contingent Beneficiary. 

If the Owner is also the Annuitant and there are no surviving Beneficiaries, upon Our receipt of all Required Documentation, We will pay the
Death Benefit to the estate of the Owner in accordance with option 1, under DEATH OF OWNER BEFORE THE ANNUITY DATE. 
 
ANNUITY PROVISIONS 
 ANNUITY DATE 

You may specify an Annuity Date. You may change the Annuity Date at any time, at least seven days prior to the Annuity Date, by Written notice.
The Annuity Date must always be the first day of the calendar month. The Earliest Annuity Date After the Contract Date is shown on the Contract Date Page. The Annuity Date must not be beyond the Latest Annuity Date shown on the Contract Data Page.
If no Annuity Date is specified by You, the Annuity Date will be the Latest Annuity Date. 
 PAYMENTS TO OWNER 

Unless You request otherwise, We will make Annuity Income Payments to You. If You want the Annuity Income Payments under an Annuity Payment
Option select by You to be made to some other Payee, We will make such Annuity Income Payments subject to receipt of a Written no later than thirty (30) days before the due date of the first Annuity Income Payment or subsequent Annuity Income
Payment. 
 Any such request is subject to the rights of any assignee. No Annuity Income Payments available to or being paid to the Payee
while the Annuitant is alive can be transferred, commuted, anticipated or encumbered. 
 BETTERMENT OF RATES 

  

					
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 The amount of the Owner’s initial monthly payment will be at least equal to the monthly
payment produced by the application of an amount equal to the Contract Value of this Contract to purchase any single consideration immediate annuity contract offered by the Company at the same time to the same class of annuitants. We are not
currently offering any single premium immediate annuity contracts. 
 FIXED ANNUITIZATION 

If a Fixed Annuitization has been elected, the proceeds payable under this Contract, less any applicable premium taxes, shall be applied to the
payment of the fixed Annuity Income Payment option elected at rates which are at least equal to the annuity factor applicable to the variable Annuity Income Payment option chosen. Upon Annuitization, any amounts remaining in the DCA Fixed Account
Option(s), if applicable, will be applied to a Fixed Annuitization. The unit values credited and applied to Your Contract are determined on each date of transfer. 

AMOUNT OF FIXED ANNUITY INCOME PAYMENTS 

The amount of each fixed Annuity Income Payment will be determined by applying the portion of the Contract Value allocated by You for Fixed
Annuitization on the Annuity Date, less any applicable premium taxes, to the annuity factor applicable to the fixed Annuity Income Payment option chosen. In no event will the Fixed Annuitization be changed once it begins. 

AMOUNT OF VARIABLE ANNUITY INCOME PAYMENTS 

	(a)	 FIRST VARIABLE ANNUITY INCOME PAYMENT: The dollar amount of the first Variable Annuitization payment will be determined by applying the portion of
the Contract Value allocated to the Variable Portfolio(s) on the Annuity Date, less any applicable premium taxes, to the annuity factor applicable to the variable Annuity Income Payment option chosen. If the Contract Value is allocated to more than
one Variable Portfolio, the value of Your allocation in each Variable Portfolio is applied separately to the variable Annuity Income Payment option factor to determine the amount of the first Annuity Income Payment attributable to each Variable
Portfolio. 

  

	(b)	 NUMBER OF VARIABLE ANNUITY UNITS: The number of Annuity Units for each applicable Variable Portfolio is the amount of the first Annuity Income
Payment attributable to that Variable Portfolio divided by the value of the applicable Annuity Unit for that Variable Portfolio as of the Annuity Date. The number of Annuity Units will not change as a result of investment experience.

  

	(c)	 VALUE OF EACH VARIABLE ANNUITY UNIT: The value of an Annuity Unit may increase or decrease from one month to the next. For any month, the value of
an Annuity Unit of a particular Variable Portfolio is the value of that Annuity Unit as of the last Business Day of the preceding month, multiplied by the Net Investment Factor for that Variable Portfolio for the last Business Day of the current
month. 

 The Net Investment Factor for any Variable Portfolio for a certain month is determined by dividing (1) by
(2) and multiplying by (3) where: 
  

	 	(1)	 is the Accumulation Unit Value of the Variable Portfolio determined as of the last Business Day at the end of that month, and

  

	 	(2)	 is the Accumulation Unit Value of the Variable Portfolio determined as of the last Business Day at the end of the preceding month, and

  

	 	(3)	 is a monthly discount factor of an assumed annualized investment rate of 3.50%. 

 

	(d)	 SUBSEQUENT VARIABLE ANNUITY INCOME PAYMENTS: After the first Variable Annuitization payment, subsequent Variable Annuitization payments will vary
in amount according 

  

					
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to the investment performance of the applicable Variable Portfolio(s) in which You are invested. The amount may change from month to month. The amount of each subsequent payment for each Variable
Portfolio is (1) multiplied by (2) where: 

  

	 	(1)	 is the number of Annuity Units for each Variable Portfolio as determined for the first Annuity Income Payment 

 

	 	(2)	 is the value of an Annuity Unit for that Variable Portfolio determined as of the last Business Day at the end of the month immediately preceding
the month in which the Annuity Income Payment is due. 

 We guarantee that the amount of each Variable
Annuitization payments will not be affected by variations in expenses or mortality experience. 
 GENERAL
PROVISIONS 
 ENTIRE CONTRACT 
 The
Entire Contract between You and Us consists of this Contract, the Application for this Contract and any attached endorsement(s) and/or rider(s). Any change must be In Writing and approved by Us. Only Our President, Secretary, or one of Our
Vice-Presidents can give Our approval. All statements made by the applicant for the issuance of this Contract shall, in absence of fraud, be deemed representations and not warranties. 

CHANGE OF ANNUITANT 
 If the Owner is an
individual, the Owner may change the Annuitant(s) at any time prior to the Annuity Date, subject to Our approval. To request such a change, the Owner must send a request In Writing at least thirty (30) days before the Annuity Date. If the Owner
is a trust or non-natural person, the Owner may not change the Annuitant. Any change of the Annuitant may have income tax consequences. 
 DEATH OF
ANNUITANT 
 If the Owner is an individual, the Owner and Annuitant are different persons, and the Annuitant dies before the Annuity
Date, the Owner becomes the Annuitant until the Owner elects a new Annuitant. If there are Joint Annuitants, upon the death of any Annuitant prior to the Annuity Date, the Owner may elect a new Joint Annuitant, subject to Our approval. However, if
the Owner is a trust or other non-natural person, We will treat the death of any Annuitant as the death of the “Primary Annuitant” as defined in the IRC, and as the death of the Owner, as explained in the DEATH PROVISIONS. 

MISSTATEMENT OF AGE OR SEX 
 You must,
upon Our request, provide proof of the Annuitant’s birth date and sex. If the Age or sex of any Annuitant is misstated, We will adjust future Annuity Income Payments. The amount remaining to be paid will be the amount that should have been paid
with the correct information. We will credit or charge the amount of any underpayment or overpayment against the next succeeding Annuity Income Payment(s), if any remain. We reserve the right to collect any overpayment directly from the Payee. 

With respect to Contract issue Age and other age driven features in the Contract, should We discover a misstatement of Age such that You would
not otherwise qualify for an Age-driven benefit, We may fully pursue Our remedies including possible revocation of any Age driven benefits. A written notification will be provided to the Owner at least ten (10) days prior to the revocation of
the Contract. 

  

					
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 PROOF OF AGE, SEX, OR SURVIVAL 

We may require satisfactory proof of correct Age or sex at any time. If any payment under this Contract depends on the Annuitant being alive,
We may reasonably require satisfactory proof of survival. 
 DEFERMENT OF PAYMENTS 

We may defer making payments, subject to state requirements, from the available DCA Fixed Account Option(s) for up to six (6) months.
Interest, subject to state requirements, will be credited during the deferral period. 
 SUSPENSION OF PAYMENTS 

We may suspend or postpone any payments from the Variable Portfolios if any of the following occur: 

 

	(a)	 the NYSE is closed (other than customary weekend and holiday closings); 

	(b)	 trading on the NYSE is restricted; 

	(c)	 an emergency exists such that it is not reasonably practical to dispose of securities in the Variable Portfolios or to determine the value of its
assets; 

	(d)	 the United States Securities and Exchange Commission, by order, so permits for the protection of Owners; or 

	(e)	 We are on notice that this Contract is the subject of a court proceeding, an arbitration, a regulatory matter or other legal action.

 Conditions in (b) and (c) will be decided by or in accordance with rules of the United States Securities and
Exchange Commission. 
 CONFORMITY WITH STATE LAWS 

The provisions of this Contract will be interpreted by the laws of the State of New York, the state in which this Contract is delivered. Any
provision which, on the Contract Date, is in conflict with the law of such state is amended to conform to the minimum requirements of such law. The paid-up annuity benefits, cash surrender benefits, and death benefits provided under this Contract
are not less than those required by the state where the contract was issued. 
 CHANGES IN LAW 

If the laws governing this Contract or the taxation of benefits under the Contract change, We will amend this Contract, subject to New York
State Department of Financial Services approval, to comply with any changes. 
 ASSIGNMENT / CHANGE OF OWNER 

Unless restricted by federal tax law, this Contract can be assigned before the Annuity Date, but We will not be bound by an assignment or
change of Owner unless the request for assignment is In Writing and is recorded. Your rights and those of any other person referred to in this Contract will be subject to the assignment. Certain assignments may be taxable. We do not assume any
responsibility for the validity or tax consequences of any assignment. The assignment, unless otherwise specified by You, will take effect on the date that You signed the notice of assignment, subject to any payments made or actions taken by Us
prior to Us receiving such assignment In Writing. We reserve the right to not recognize assignments or change of Owner if it changes the risk profile of the Owner of the Contract as determined in Our sole discretion. 

INSURABLE INTEREST 
 Evidence must exist
that the Owner(s), Annuitant(s) or Beneficiary(ies) will suffer a financial loss at the death of the life that triggers the Death Benefit. Generally, We consider an interest insurable if a familial relationship and/or economic interest exists. A
familial relationship generally includes those persons related 

  

					
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by blood or by law. An economic interest exists when the Owner has a lawful and substantial economic interest in having the life, health or bodily safety of the insured life preserved. 

CLAIMS OF CREDITORS 
 To the extent
permitted by law, no right or proceeds payable under this Contract will be subject to claims of creditors or legal process. 
 PREMIUM TAXES OR OTHER
TAXES 
 We may deduct from Your Contract Value any premium tax or other taxes payable to a state or other government entity, if
applicable. Should We advance any amount so due, We are not waiving any right to collect such amount at a later date. We will deduct any withholding taxes required by applicable law. 

WRITTEN NOTICE 
 Any notice We send to You will be sent to
Your address shown in the Application unless You request otherwise. 
 PERIODIC REPORTS 

At least once during each Contract Year, We will send You a statement of the account activity of the Contract. The statement will include all
transactions which have occurred during the accounting period shown on the statement. 
 INCONTESTABILITY 

This Contract will be incontestable after it has been in force for a period of two years from the Contract Date during the lifetime of any
Owner who is required to provide Us with information concerning their such Owner’s identity. Accurate statements as to any Owner’s identity are required as a condition of issuing this Contract. The Incontestability of this Contract applies
to any statements any Owner makes, except as otherwise stated in the Misstatement of Age or Sex Provision. 
 NONPARTICIPATING 

This Contract does not share in Our surplus. 
 WAIVER 

Our waiver of any of the terms and conditions under this Contract will not be deemed to constitute waiver of the right to enforce strict
compliance. 

  

					
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 ANNUITY INCOME PAYMENT OPTIONS 

 

					
			 During the Annuitant’s life, upon Written election, the Contract Value may be applied to provide one of the following Annuity Income Payment options or
any Annuity Income Payment option that is mutually agreeable. Prior to the Annuity Date but not before the Earliest Annuity Date After the Contract Date shown on the Contract Data Page, You can choose one of the options described below. If no option
has been selected by the Annuity Date, You will automatically receive option 4, below, with 120 monthly payments guaranteed; for Joint Owners, You will automatically receive Option 3, below, with 120 monthly payments guaranteed.
		
	 

		  
 ACTUARIAL BASIS OF COMPUTATION

The actuarial basis for the Fixed Annuity Income Payment Options is the Annuity 2000 Mortality Table with a guaranteed interest rate of [1.50%]
with quinquennial age setbacks. The actuarial basis for the Variable Annuity Income Payment Options is the Annuity 2000 Mortality Table with an effective annual Assumed Investment Rate of [3.50%], with quinquennial age setbacks. In order to
determine the applicable factors at the time of Annuitization, the Annuitant’s age will be set back by one year for every five year period after the Contract Date.

 
 The Table of Annuity Rates will be furnished upon request.
		

			  
 OPTIONS 1 & 1v - LIFE ANNUITY, LIFETIME PAYMENTS
GUARANTEED
 Payments payable to a Payee during the lifetime of the Annuitant. No further annuity income payments are payable after the
death of the Annuitant.
  
 OPTIONS 2 & 2v - JOINT AND SURVIVOR LIFE
ANNUITY
 Payments payable to the Payee during the lifetime of the Annuitant and during the lifetime of a designated second person. No
further Annuity Income Payments are payable after the deaths of both the Annuitant and the designated second person.
  

OPTIONS 3 & 3v - JOINT AND SURVIVOR LIFE ANNUITY - WITH 120 OR 240 MONTHLY PAYMENTS GUARANTEED

Payments payable to the Payee during the lifetime of the Annuitant and during the lifetime of a designated second person. If, at the death of
the survivor, Annuity Income Payments have been made for less than 120 or 240 monthly periods, the remaining guaranteed Annuity Income Payments will be continued to the Beneficiary. If, at the death of the survivor, Annuity Income Payments have been
made for at least 120 or 240 monthly periods, as selected at the time of annuitization, no further annuity income payments will be made.
  

OPTIONS 4 & 4v - LIFE ANNUITY WITH - 120 OR 240 MONTHLY PAYMENTS GUARANTEED

Payments payable to the Payee during the lifetime of the Annuitant. If, at the death of the Annuitant, Annuity Income Payments have been made
for less than the 120 or 240 monthly periods, as selected at the time of Annuitization, the remaining guaranteed annuity income payments will be continued to the Beneficiary. If, at death of the Annuitant, Annuity Income Payments have been made for
at least 120 or 240 monthly periods, no further payments will be made.
  

OPTIONS 5 & 5v - FIXED PAYMENTS FOR A SPECIFIED PERIOD CERTAIN

Payments payable to the Payee for any specified period of time for five (5) years or more, but not exceeding thirty (30) years, as
selected at the time of Annuitization. The selection must be made for full twelve month periods. In the event of death of the Annuitant during the specified period of time, any remaining Annuity Income Payments will be continued to the Beneficiary.
If the Annuitant dies after the end of the specific period of time, no further Annuity Income Payments will be made. If Variable Annuity Income Payments are elected under this Annuity Income Payment Option, any remaining guaranteed Variable Annuity
Income Payments may be redeemed for a discounted value determined by Us.
		

  

					
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 The United States Life Insurance Company in the City of New York 

A STOCK COMPANY        NEW YORK, NEW YORK 

FLEXIBLE PAYMENT FIXED AND VARIABLE DEFERRED ANNUITY CONTRACT 

Nonparticipating 
 Copyright © 2014 American International Group, Inc. All rights reserved. 

  

					
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