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ex4g.htm

	
Index Guard Strategy Rider

This rider forms a part of the Base Contract to which it is attached and is effective on the Index Effective Date shown on your Index Options statement.  In the case of a conflict with any provision in the Base Contract, the provisions of this rider control. Defined terms and contractual provisions are set forth in the Base Contract or are added in this rider.  This rider terminates as indicated under the Termination of this Rider provision.

	
Definitions

Base Contract

The contract to which this rider is attached.

Cap

A Cap is the maximum positive Performance Credit for an Index Option on an Index Anniversary.  On the Index Effective Date, and on subsequent Index Anniversaries, we declare a Cap for each Index Option and guarantee it for the Index Year.  Caps are shown on your Index Options statement each year and will never be less than the Minimum Cap shown on the Index Options Contract Schedule.

Floor

A Floor is the minimum Performance Credit, which may be negative, for an Index Option on an Index Anniversary.  We declare a Floor for each Index Option, and the Floors will not change.  The Floors are shown on the Index Options Contract Schedule.

Index Option Base

The value used to determine the dollar amount of the Performance Credit.  We establish an Index Option Base for each Index Option.

Index Option Value

The value in a selected Index Option.  We establish an Index Option Value for each Index Option.

Index Value

The value of an Index at the end of the Business Day.  Index Values are shown on your Index Options statement.

Performance Credit

The annual return you may receive when you allocate money to an Index Guard Strategy Index Option(s).

	
Contract Value

The following is added to the “Contract Value” section.

How we calculate Index Option Values

On the Index Effective Date, the Index Option Value and Index Option Base for each Index Option are equal to:

	
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The portion of the Initial Purchase Payment allocated to that Index Option, if the Index Effective Date is the Issue Date; or

	
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The portion of Variable Account Value allocated to that Index Option, if the Index Effective Date is not the Issue Date.

At the end of each Business Day other than the Index Effective Date or Index Anniversary, the Index Option Value is equal to the Index Option Base plus its Daily Adjustment.  We establish a Proxy Value to calculate the Daily Adjustment.  The Proxy Value is determined on each Business Day based on the value of a hypothetical set of put and call options as determined by an option pricing formula.  The Daily Adjustment is calculated before we process any Partial Withdrawal or deduct any Contract Charges using the Index Option Base, the current Proxy Value, and the Proxy Value as of the previous Index Anniversary (or the Index Effective Date if this is the first Index Year).

At the end of each Business Day, we reduce each Index Option Value by the dollar amount withdrawn from the Index Option, including any Withdrawal Charge, and Contract Charges.  We deduct money from an Index Option proportionately based on the percentage of Contract Value in each Allocation Option, unless you specify otherwise.  We then reduce each Index Option Base by the same percentage that the amount withdrawn reduced its associated Index Option Value.

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Contract Value continued from the previous page

On each Index Anniversary, we calculate the Index Option Value for each Index Guard Strategy Index Option by applying its associated Performance Credit to its Index Option Base.  If the Index Anniversary is not a Business Day, we calculate the Performance Credit on the next Business Day.

On the Index Anniversary, we determine the Index Return for each Index Option.  The Index Return is the Index Value for the current Index Anniversary, minus the Index Value from the previous Index Anniversary (or the Index Effective Date if this is the first Index Anniversary), divided by the Index Value from the previous Index Anniversary (or the Index Effective Date if this is the first Index Anniversary).

If the Index Return is positive and greater than the Cap for an Index Option, then the Performance Credit for that Index Option is equal to the Cap.  If the Index Return is less than or equal to the Cap but greater than or equal to the Floor, then the Performance Credit for that Index Option is equal to the Index Return.  If the Index Return is less than the Floor, then the Performance Credit for that Index Option is equal to the Floor.

For each Index Option that receives a Performance Credit, we multiply its Performance Credit by its Index Option Base.  This result is then added to its Index Option Base.  We then set each Index Option Value equal to its Index Option Base.

Then, on each Index Anniversary, for each Index Option we:

	
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Increase its Index Option Value and Index Option Base by the amount of any Additional Purchase Payments and Transfers into the Index Option received that day;

	
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Reduce its Index Option Value and Index Option Base by the amount transferred out of the Index Option; and

	
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Reduce its Index Option Value and Index Option Base for Withdrawals (including any Withdrawal Charge) and Contract Charges as described above.

At the end of each Business Day we apply the Alternate Minimum Value if we pay a Death Benefit, upon annuitization, if you take a Withdrawal, or if you Transfer Contract Value from an Index Option to a Variable Option.

	
Alternate Minimum Value

The Alternate Minimum Value provides a guaranteed minimum value on each of your Index Option Values when we pay a Death Benefit, upon annuitization, if you take a Withdrawal, or if you Transfer Contract Value from an Index Option to a Variable Option.

When we pay a Death Benefit, upon annuitization, or if you take a Full Withdrawal, we compare each of your Index Option Values (after deducting any applicable fees or charges) with its Alternate Minimum Value.  If your Index Option Value is less than its Alternate Minimum Value, we add the difference to the Index Option Value before determining the amount of the Death Benefit, Annuity Payment, or Withdrawal.

If you take a Partial Withdrawal or if you Transfer Index Option Value from an Index Option to a Variable Option, we compare the percentage of Index Option Value withdrawn (including any Withdrawal Charge) with an equivalent percentage of its Alternate Minimum Value.  If the percentage of Index Option Value is less than the equivalent percentage of Alternate Minimum Value, we add the difference to the amount we pay to you as a Partial Withdrawal or to the amount transferred.

On the Index Effective Date, each Alternate Minimum Value is equal to its associated Index Option Base multiplied by the AMV Factor shown on the Index Options Contract Schedule.  We establish an Alternate Minimum Base to calculate interest.  On the Index Effective Date, we set each Alternate Minimum Base equal to the AMB Factor multiplied by its Index Option Base.  The AMB Factor is shown on your Index Options Contract Schedule.  On each Business Day, each Alternate Minimum Value is equal to the AMV Factor multiplied by its Index Option Base on the last Index Anniversary (or the Index Effective Date if this is the first Index Year) (adjusted proportionately for any Withdrawals, including any Withdrawal Charge) plus the Accumulated Alternate Interest and any Daily Adjustment.  The Accumulated Alternate Interest is the total amount of Alternate Interest accrued since the Index Effective Date.

We credit Alternate Interest to each Alternate Minimum Value at the end of the day.  Each daily Alternate Interest is equal to the Alternate Interest Rate divided by 365 and then multiplied by its Alternate Minimum Base.  On the Issue Date, we declare the Alternate Interest Rate and guarantee it for the life of the contract.  The Alternate Interest Rate is shown on your Index Options Contract Schedule.

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Alternate Minimum Value continued from the previous page

If you take a Partial Withdrawal, or if you Transfer Index Option Value from an Index Option to a Variable Option, each Alternate Minimum Value, Alternate Minimum Base, and Accumulated Alternate Interest is reduced by the percentage of the Index Option Value withdrawn or transferred, including any Withdrawal Charge.

If you Transfer Index Option Value from an Index Option to another Index Option, we also Transfer Accumulated Alternate Interest.  The dollar amount of Accumulated Alternate Interest transferred is equal to the dollar amount of Index Option Value transferred divided by the total Index Option Value for the Index Option prior to the Transfer, then multiplied by the Accumulated Alternate Interest for the Index Option prior to the Transfer.

On each Index Anniversary, we reset each Alternate Minimum Base to equal its Index Option Base multiplied by the AMB Factor plus its Accumulated Alternate Interest.

	
Performance Lock

You can request a Performance Lock of the current Index Option Value for each of your unlocked Index Options by providing an Authorized Request.  We process the request on the Business Day we receive an Authorized Request based on the values at the end of the Business Day.  If you exercise a Performance Lock, you may receive less than the full Cap or less than the full protection of the Floor that you would have received if you waited for us to apply the Performance Credit on the next Index Anniversary.

Once an Index Option Value has been locked:

	
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The Index Option Value will not change until the next Index Anniversary, unless it is reduced for Withdrawals and any other Contract Charges;

	
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The locked Index Option will not receive a Performance Credit on the next Index Anniversary; and

	
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You cannot unlock the Index Option.

On every Index Anniversary, we unlock any previously locked Index Option Values.

	
Termination of this Rider

This rider terminates on the earlier of the Business Day before the Annuity Date or the date the Base Contract terminates.

In all other respects the provisions, conditions, exceptions and limitations contained in the Base Contract remain unchanged and apply to this rider.

Signed for the Company at its home office.

 

                                                   Allianz Life Insurance Company 

                                                                      of North America

[                                                                                                           ]

Gretchen Cepek                   Walter R. White

Secretary                     President and CEO

S40889                                                                                3Exhibit
4.1

 

	
  

  	
  ZAIS Financial
  Corp. COUNTERSIGNED AND REGISTERED: American Stock Transfer & Trust
  Company, LLC CHIEF FINANCIAL OFFICER AND TREASURER CUSIP TRANSFER AGENT AND
  REGISTRAR AUTHORIZED SIGNATURE CHIEF EXECUTIVE OFFICER AND PRESIDENT
  INCORPORATED UNDER THE LAWS OF THE STATE OF MARYLAND THIS CERTIFICATE IS
  TRANSFERABLE IN SOUTH SAINT PAUL, MN. SEE REVERSE SIDE FOR IMPORTANT NOTICE
  ON TRANSFER RESTRICTIONS AND OTHER INFORMATION. COMMON (the
  "Corporation") transferable on the books of the Corporation by the
  holder hereof in person or by Attorney upon surrender of this certificate
  properl y endorsed. This certificate and the shares represented hereby are
  issued and shall be held subject to all of the provisions of the charter and
  the Bylaws of the Corporation and any amendments thereto. This certificate is
  not valid until countersigned and registered by the Transfer Agent and
  Registrar. IN WITNESS WHEREOF, the said Corporation has caused this
  certificate to be signed by facsimile signatures of its duly authorized
  officers. Dated: FULLY PAID AND NON-ASSESSABLE SHARES OF COMMON STOCK,
  $0.0001 PAR VALUE PER SHARE, OF THIS CERTIFIES THAT is the owner of THIS
  CERTIFIES THAT is the owner of CHIEF EXECUTIVE OFFICER AND PRESIDENT (Seal)
  CHIEF INVESTMENT OFFICER FULLY PAID AND NON-ASSESSABLE SHARES OF COMMON
  STOCK, $0.01 PAR VALUE PER SHARE, OF Polar Star Realty Trust Inc. 

  

 

 

IMPORTANT NOTICE

 

The Corporation will furnish to any stockholder, on request and without charge, a full statement of the information required by Section 2-211(b) of the Corporations and Associations Article of the Annotated Code of Maryland with respect to the designations and any preferences, conversion and other rights, voting powers, restrictions, limitations as to dividends and other distributions, qualifications, and terms and conditions of redemption of the stock of each class which the Corporation has authority to issue and, if the Corporation is authorized to issue any preferred or special class in series, (i) the differences in the relative rights and preferences between the shares of each series to the extent set and (ii) the authority of the Board of Directors to set such rights and preferences of subsequent series. The foregoing summary does not purport to be complete and is subject to and qualified in its entirety by reference to the charter of the Corporation (the “Charter”), a copy of which will be sent without charge to each stockholder who so requests. Such request must be made to the Secretary of the Corporation at its principal office.

 

The shares represented by this certificate are subject to restrictions on Beneficial Ownership and Constructive Ownership and Transfer for the purpose, among others, of the Corporation’s maintenance of its qualification as a real estate investment trust under the Internal Revenue Code of 1986, as amended (the “Code”). Subject to certain further restrictions and except as expressly provided in the Charter, (i) no Person may Beneficially Own or Constructively Own shares of Common Stock in excess of 9.8 percent (in value or number of shares, whichever is more restrictive) of the outstanding shares of Common Stock unless such Person is exempt from such limitation or is an Excepted Holder (in which case the Excepted Holder Limit shall be applicable); (ii) no Person may Beneficially Own or Constructively Own shares of any class or series of Preferred Stock in excess of 9.8 percent (in value or number of shares, whichever is more restrictive) of the outstanding shares of such class or series of Preferred Stock unless such Person is exempt from such limitation or is an Excepted Holder (in which case the Excepted Holder Limit shall be applicable); (iii) no Person may Beneficially Own or Constructively Own shares of Capital Stock in excess of 9.8 percent (in value or number of shares, whichever is more restrictive) of the total outstanding shares of Capital Stock, unless such Person is exempt from such limitation or is an Excepted Holder (in which case the Excepted Holder Limit shall be applicable); (iv) no Person may Beneficially Own or Constructively Own Capital Stock that would result in the Corporation being “closely held” under Section 856(h) of the Code (without regard to whether the ownership interest is held during the last half of a taxable year), or otherwise cause the Corporation to fail to qualify as a REIT; and (v) any Transfer of shares of Capital Stock that, if effective, would result in the Capital Stock being beneficially owned by less than 100 Persons (as determined under the principles of Section 856(a)(5) of the Code) shall be void ab initio, and the intended transferee shall acquire no rights in such shares of the Capital Stock. Any Person who Beneficially Owns or Constructively Owns or attempts to Beneficially Own or Constructively Own shares of Capital Stock which causes or will cause a Person to Beneficially Own or Constructively Own shares of Capital Stock in excess or in violation of the above limitations must immediately notify the Corporation or, in the case of such a proposed or attempted transaction, give at least 15 days prior written notice. If any of the restrictions on transfer or ownership as set forth in (i) through (iv) above are violated, the shares of Capital Stock in excess or in violation of the above limitations will be automatically transferred to a Trustee of a Trust for the benefit of one or more Charitable Beneficiaries. In addition, the

 

 

Corporation may redeem shares upon the terms and conditions specified by the Board of Directors in its sole discretion if the Board of Directors determines that ownership or a Transfer or other event may violate the restrictions described above. Furthermore, upon the occurrence of certain events, attempted Transfers in violation of the restrictions described in (i) through (iv) above may be void ab initio. All capitalized terms in this legend have the meanings defined in the Charter, as the same may be amended from time to time, a copy of which, including the restrictions on transfer and ownership, will be furnished to each holder of Capital Stock on request and without charge. Requests for such a copy may be directed to the Secretary of the Corporation at its principal office.

 

The following abbreviations, when used in the inscription on the face of this certificate, shall be construed as though they were written out in full according to applicable laws or regulations:

 

	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
TEN COM – as tenants in common
    	
UTMA –
    	
 
    	
 
    	
Custodian
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
(Cust)
    	
 
    	
 
    	
(Minor)
    
	
 
    	
 
    	
 
    	
 
    
	
TEN ENT – as tenants by entireties
    	
under Uniform Transfers to Minors
    
	
 
    	
 
    	
 
    	
 
    
	
JT TEN – as joint tenants with right of   survivorship
    	
Act
    	
 
    
	
 
    	
 
    	
 
    	
 
    
	
  and not as tenants in common
    	
 
    	
 
    	
(State)
    
	
 
    	
 
    	
 
    	
 
    
	
Additional   abbreviations may also be used though not in above list.
    
							

 

For value received             hereby sell, assign, and transfer unto

 

 

PLEASE INSERT SOCIAL SECURITY OR OTHER
 IDENTIFYING NUMBER OF ASSIGNEE

 

 

	
 
    
	
(PLEASE PRINT OR TYPEWRITE NAME AND ADDRESS INCLUDING ZIP CODE OF   ASSIGNEE)
    

 

 

	
 
    	
Shares
    

 

of stock represented by the within Certificate, 

	
and do hereby irrevocably constitute and appoint 
    	
Attorney
    

 

 

	
 
    
	
to transfer the said stock on the books of the   within-named Corporation with full power of substitution in the premises.
    

 

	
Dated
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
X
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
X
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
NOTICE: THE SIGNATURE TO THIS ASSIGNMENT MUST CORRESPOND WITH THE NAME   AS WRITTEN UPON THE FACE OF THE CERTIFICATE IN EVERY PARTICULAR WITHOUT   ALTERATION OR ENLARGEMENT OR ANY CHANGE WHATEVER.
    

 

SIGNATURE GUARANTEED

 

ALL GUARANTEES MUST BE MADE BY A FINANCIAL INSTITUTION (SUCH AS A BANK OR BROKER) WHICH IS A PARTICIPANT IN THE SECURITIES TRANSFER AGENTS MEDALLION PROGRAM (“STAMP”), THE NEW YORK STOCK EXCHANGE, INC. MEDALLION SIGNATURE PROGRAM (“MSP”), OR THE STOCK EXCHANGES MEDALLION PROGRAM (“SEMP”) AND MUST NOT BE DATED, GUARANTEES BY A NOTARY PUBLIC ARE NOT ACCEPTABLE.

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