Document:

Exhibit (4)(p)

 EXHIBIT (4)(p)
 FORM OF POLICY RIDER (RETIREMENT INCOME CHOICE – 
 DOUBLE WITHDRAWAL BASE BENEFIT)

			
	

	  	 Home Office:
 4333 Edgewood Road N.E.

 Cedar Rapids, Iowa 52499
 (319)355-8511

 GUARANTEED LIFETIME WITHDRAWAL BENEFIT 
 AND DEATH BENEFIT RIDER 
 This rider is issued as a
part of the policy (contract) to which it is attached. Policy refers to the individual policy if the rider is attached to an individual annuity or the group certificate if the rider is attached to a group annuity. 
 All provisions of the policy that do not conflict with this rider apply to this rider. In the event of any conflict between the provisions of this rider and the
provisions of the policy, the provisions of this rider shall prevail over the provisions of the policy. 
 Rider Data Specification

  

									
		 	Policy Number:	 		  	12345	  	
		 	Rider Date:	 		  	07/01/2008	  	
		 	Growth Rate Percentage:	 		  	5.00%	  	
		 	Initial Rider Fee Percentage:	 		  	1.00%	  	
		 	Annuitant:	 		  	JOHN DOE	  	
		 	Annuitant’s Issue Age/Sex:	 		  	35 / MALE	  	

 ARTICLE I 
 You may cancel this rider before midnight of the thirtieth calendar day after you received it and no rider fees will be assessed. 
 This
rider will terminate upon the annuitant’s death, if you surrender your policy, elect to upgrade (as described in Article III of this rider), or elect to receive annuity payments under your policy. This rider will also terminate if the policy to
which this rider is attached, is assigned or if the owner is changed without our approval. You can terminate this rider within 30 days after the fifth rider anniversary and every fifth rider anniversary thereafter. Termination of the rider will
result in the loss of all benefits provided by the rider. 
 If you elect this rider, 100% of your policy value must be in one or more of the designated
funds. You can generally transfer between the designated funds as permitted under your policy; however, you cannot make transfers as provided for in the policy to a non-designated fund while this rider is in force. If you wish to make a transfer to
a non-designated fund, this rider must be terminated, as described above, prior to making the transfer. 
 A rider fee will be deducted on each rider
anniversary and upon rider termination as described below. 
 DEFINITIONS: 
 Terms used that are not defined in this rider shall have the same meaning as those in your policy. 
 Designated Funds

 Investment options authorized for use with this rider and identified by us as designated funds. 
  

					
	RGMB 31 0708	  	(1)	  	(Income/Death-Single)

 ARTICLE I CONTINUED 
 Excess Withdrawal 
 The excess of a gross partial withdrawal over the rider withdrawal amount remaining prior to the withdrawal, if any.

 Gross Partial Withdrawal 
 The amount which will be
deducted from your policy value as a result of each partial withdrawal. 
 Rider Anniversary 
 The anniversary of the rider date. 
 Rider Fee 
 The rider fee is the rider fee percentage multiplied by the withdrawal base at the time the fee is deducted. This amount will change if the withdrawal base changes. The
rider fee percentage will not change during the first five rider years, and will only change thereafter due to an automatic step-up. You will be notified of any increase in the rider fee percentage. This fee will be deducted from each investment
option in proportion to the amount of policy value in that investment option on each rider anniversary prior to any increase in the withdrawal base. A portion of this fee will also be deducted when the rider is terminated based on the number of days
that have elapsed since the previous rider anniversary. 
 Rider Monthiversary 
 The same day of the month as the rider date. For months not containing that day, we will use the first day of the following month. 
 Rider Withdrawal Amount 
 The total amount that can be withdrawn from the policy each rider year without reducing the withdrawal base. This
amount will change if the withdrawal base changes. 
 Rider Year 
 Each twelve-month period following the rider date. 
 Withdrawal Base 
 The amount used to calculate the rider withdrawal amount and the rider fee. This amount cannot be taken as a lump sum. 
 ARTICLE II 
 GUARANTEED LIFETIME WITHDRAWAL BENEFIT 
 Under this rider, we guarantee that you can withdraw up to the rider withdrawal amount each rider year, regardless of the policy value, until the annuitant’s death. 
 The withdrawal percentage is determined by the attained age (age at last birthday) of the annuitant at the time of the first withdrawal of any amount from the policy
value taken on or after the rider anniversary following the annuitant’s 59th birthday. Once the withdrawal percentage is established, it may only be changed by an upgrade and redetermined at that time. The withdrawal percentages are shown in
the table below. 
  

			
	 Attained Age
	  	 Withdrawal Percentage

	 0 - 58
	  	0.0%
	 59 - 69
	  	5.0%
	 70 - 79
	  	6.0%
	 80 +
	  	7.0%

 If the annuitant is not yet 59 on the rider date, the
withdrawal percentage will be zero until the rider anniversary following the annuitant’s 59th birthday. Withdrawals prior to age 59 1/2 will be subject to the 10% penalty tax. 
 Withdrawals will reduce the policy value of the policy to which this rider
is attached. If the policy value equals zero, you cannot make subsequent premium payments and all other policy features, benefits and guarantees are no longer available. Withdrawals guaranteed by this rider can be continued by selecting an amount
and frequency in accordance with the policy provisions to which this rider attaches. Once the payment amount and frequency are established, they cannot be changed and no additional withdrawals will be allowed. 
  

					
	RGMB 31 0708	  	(2)	  	(Income/Death-Single)

 ARTICLE II CONTINUED 
 ISSUE AGE AND SURVIVAL 
 The benefits under this rider depend on the annuitant being alive at the time of withdrawal and the amount of the
benefit depends on the issue age of the annuitant. Proof of survival and the issue age may be required by the Company. 
 If the annuitant’s age has
been misstated, this rider’s fees and benefits will be adjusted to the amounts which would have been calculated for the correct age. However, if this rider would not have been issued had the age not been misstated, the rider is treated as if it
never existed. If withdrawals under the provisions of the rider have already commenced and the misstatement caused the rider withdrawal amount to be overstated, any withdrawal in excess of the correct rider withdrawal amount will be considered an
excess withdrawal and will impact the withdrawal base and rider withdrawal amount. If overpayments occurred when the sum of the accumulated values in all the designated funds was zero, the amount of that overpayment will be deducted from one or more
future payments until this amount is paid in full. 
 RIDER WITHDRAWAL AMOUNT 
 The rider withdrawal amount will be equal to the greater of 1) and 2), where: 
  

	1)	is the withdrawal percentage multiplied by the withdrawal base; 

  

	2)	is an amount equal to the minimum required distribution amount. Prior to the 1st rider anniversary, this amount is based on the initial policy value on the rider date. After this
time, the minimum required distribution is calculated based on the rules established by the IRS. The minimum required distribution may only be used if all of the following are true: 

  

	 	A)	the policy to which this rider is attached is a tax-qualified policy for which IRS minimum required distributions are required, 

  

	 	 B)
	 the minimum required distributions do not start prior to the annuitant’s attained age 70 1/2, 

  

	 	C)	the minimum required distributions are based on either the Uniform Lifetime table or the Joint Life and Last Survivor Expectancy table, 

  

	 	D)	the minimum required distributions are based on age of the living annuitant. The minimum required distributions can not be based on the age of someone who is deceased,

  

	 	E)	the minimum required distributions are based only on the policy to which this rider is attached, and 

  

	 	F)	the minimum required distributions are only for the current rider year. Amounts carried over from past rider years are not considered. 

 If any of the above are not true, then 2) is equal to zero and it is not available as a rider withdrawal amount. 
 If you withdraw less than the rider withdrawal amount in a rider year, the unused portion cannot be carried over to the next rider year. 
  

					
	RGMB 31 0708	  	(3)	  	(Income/Death-Single)

 ARTICLE II CONTINUED 
 WITHDRAWAL BASE 
 The withdrawal base is used to calculate the rider withdrawal amount. On the rider date, the initial withdrawal base is
equal to the policy value (less any premium enhancements if the rider is added in the first policy year). During any rider year, the withdrawal base is increased by subsequent premium payments (less any premium enhancements), and is reduced for
excess withdrawals. 
 On each rider anniversary, the withdrawal base will be set to the greatest of: 
  

	 	1)	The current withdrawal base; 

  

	 	2)	The policy value on the rider anniversary; 

  

	 	3)	The highest policy value on a rider monthiversary; or 

  

	 	4)	The current withdrawal base immediately prior to anniversary processing increased by the growth rate percentage. 

 Item 3) above will be zero if there have been any excess withdrawals in the current rider year. Item 4) above will be zero after the 10th rider anniversary or
if there have been any withdrawals in the current rider year. 
 DOUBLE WITHDRAWAL BASE BENEFIT 
 If no withdrawals have been made 1) during the first 10 rider years or 2) before the anniversary following the annuitant attaining age 67, whichever is the later, the
withdrawal base on that rider anniversary will be the greater of: 
  

	 	1)	The withdrawal base as calculated in 1-4 above; or 

  

	 	2)	The withdrawal base on the rider date plus any premiums received within 90 days of the rider date multiplied by 2. 

 AUTOMATIC STEP-UP FEATURE 
 The rider receives an automatic step-up on
the rider anniversary if the withdrawal base is set equal to the policy value or the highest policy value on a rider monthiversary. This feature does not require the termination of the existing rider. This rider will continue with the same rider
date and features. The rider fee percentage may be changed due to an automatic step-up, but there will be no increase in the rider fee percentage during the first five rider years. Following the fifth rider anniversary, the rider fee percentage may
be increased due to an automatic step-up, but will not increase more than 0.75% from the initial rider fee percentage shown on page 1. 
 You have the right
to reject an automatic step-up within 30 days following a rider anniversary, if the rider fee percentage increases. If you reject an automatic step-up, you must notify us in a manner which is acceptable to us. Changes as a result of the automatic
step-up feature will be reversed. And any increase in the rider fee percentage will also be reversed. 
 WITHDRAWAL BASE ADJUSTMENTS 
 Gross partial withdrawals, taken in a rider year, less than or equal to the rider withdrawal amount will not reduce the withdrawal base. Excess withdrawals will reduce
the withdrawal base by the withdrawal base adjustment. The withdrawal base adjustment is the greater of 1) and 2), where: 
  

	1)	is the excess withdrawal amount; and 

  

	2)	is the result of (A multiplied by B), divided by C, where: 

  

	 	A)	is the excess withdrawal; 

  

	 	B)	is the withdrawal base prior to the excess withdrawal amount; and 

  

	 	C)	is the policy value after the rider withdrawal amount has been withdrawn, but prior to the withdrawal of the excess withdrawal amount. 

  

					
	RGMB 31 0708	  	(4)	  	(Income/Death-Single)

 ARTICLE II CONTINUED 
 RIDER DEATH BENEFIT 
 Upon the annuitant’s death, we will pay an additional death benefit amount equal to the excess, if any, of the
rider death benefit over the greater of the base policy death benefit or the guaranteed minimum death benefit, if applicable, and this rider will then terminate. The rider death benefit on the rider date is equal to the policy value (less any
premium enhancements, if the rider is added in the first policy year). The rider death benefit after the rider date is equal to the rider death benefit on the rider date plus any premiums (not including premium enhancements, if any) added after the
rider date less any rider death benefit adjustments. 
 The rider death benefit does not reset due to the automatic step-up or the double withdrawal base
benefit. 
 RIDER DEATH BENEFIT ADJUSTMENTS 
 Cumulative
gross partial withdrawals, taken in a rider year, up to the rider withdrawal amount will reduce the rider death benefit by the same amount (dollar for dollar). Excess withdrawals will reduce the rider death benefit by the greater of: 
  

	1)	the excess withdrawal amount; and 

  

	2)	the result of (A divided by B), multiplied by C, where: 

  

	 	A)	is the excess withdrawal; 

  

	 	B)	is the policy value after the rider withdrawal amount has been withdrawn, but prior to the excess withdrawal; and 

  

	 	C)	is the rider death benefit after the rider withdrawal amount has been withdrawn, but prior to the excess withdrawal. 

 ARTICLE III 
 CONTINUATION 
 In the case of spousal joint owners where one spouse is the annuitant, if the spouse who is not the annuitant dies and the surviving spouse is the sole beneficiary, the
surviving spouse may elect to continue the policy and rider. In the case of spousal joint owners where one spouse is the annuitant, if the spouse who is the annuitant dies, this rider will terminate. No additional death benefit will be paid under
this rider at this time. 
 In the case of non-spousal joint owners where an owner who is not the annuitant dies, the surviving owner (who is also the sole
designated beneficiary) may elect to receive lifetime income payments under this rider instead of receiving any benefits applicable to the policy. The lifetime income payments must begin no later than 1 year after the owner’s death and will be
equal to the rider withdrawal amount divided by the number of payments made per year. Once the payments begin, no additional premium payments will be accepted and no additional withdrawals will be paid. If these payments are elected but the
annuitant dies before the rider death benefit equals zero, the annuitant’s beneficiary will receive a death benefit equal to the rider death benefit. 
 ANNUITIZATION 
 On the maximum annuity commencement date, you will have the option to receive lifetime income payments that are no less than
your rider withdrawal amount each year. This option will also guarantee that the sum of all income payments received over time will equal or exceed the greater of the policy value or the rider death benefit on the maximum annuity commencement date.
If the annuitant should die before the sum of all income payments received equals or exceeds the greater of the policy value or the rider death benefit on the maximum annuity commencement date, the annuitant’s beneficiary will receive a final
payment equal to the difference. 
  

					
	RGMB 31 0708	  	(5)	  	(Income/Death-Single)

 ARTICLE III CONTINUED 
 RIDER UPGRADE 
 You may elect, in writing, to upgrade the withdrawal base to the policy value within 30 days after the fifth rider
anniversary and every fifth rider anniversary thereafter, subject to the issue age restrictions on the new rider. If an upgrade is elected, this rider will terminate and a new rider with the same features will be issued with a new rider date. The
new rider will have its own growth rate percentage which may be lower than this rider’s growth rate percentage. The new rider will have its own rider fee percentage which may be higher than this rider’s rider fee percentage. 
 At the time of upgrade, the rider death benefit will also be upgraded to the policy value and the rider withdrawal amount will be recalculated based on the new
withdrawal base. 
 The new rider date will be the date the Company receives all information necessary, in a written form acceptable to the Company, to
process the upgrade. 
 Signed for us at our home office. 
  

							
		 	Craig D. Vermie	 	Brenda Clancy	 	
		 	SECRETARY	 	PRESIDENT	 	

  

					
	RGMB 31 0708	  	(6)	  	(Income/Death-Single)

			
	

	  	 Home Office:
 4333 Edgewood Road N.E.

 Cedar Rapids, Iowa 52499
 (319)355-8511

 GUARANTEED LIFETIME WITHDRAWAL BENEFIT 
 AND DEATH BENEFIT RIDER 
 This rider is issued as a
part of the policy (contract) to which it is attached. Policy refers to the individual policy if the rider is attached to an individual annuity or the group certificate if the rider is attached to a group annuity. 
 All provisions of the policy that do not conflict with this rider apply to this rider. In the event of any conflict between the provisions of this rider and the
provisions of the policy, the provisions of this rider shall prevail over the provisions of the policy. 
 Rider Data Specification

  

									
		 	Policy Number:	 		  	12345	  	
		 	Rider Date:	 		  	07/01/2008	  	
		 	Growth Rate Percentage:	 		  	5.00%	  	
		 	Initial Rider Fee Percentage:	 		  	0.95%	  	
		 	Annuitant:	 		  	JOHN DOE	  	
		 	Annuitant’s Issue Age/Sex:	 		  	35 / MALE	  	
		 	Annuitant’s Spouse:	 		  	JANE DOE	  	
		 	Annuitant’s Spouse’s Issue Age/Sex:	 		  	35 / FEMALE	  	

 ARTICLE I 
 You may cancel this rider before midnight of the thirtieth calendar day after you received it and no rider fees will be assessed. 
 This
rider will terminate upon the later of the annuitant’s or annuitant’s spouse’s death, if you surrender your policy, elect to upgrade (as described in Article III of this rider), or elect to receive annuity payments under your policy.
This rider will also terminate if the policy to which this rider is attached, is assigned or if the owner is changed without our approval. You can terminate this rider within 30 days after the fifth rider anniversary and every fifth rider
anniversary thereafter. Termination of the rider will result in the loss of all benefits provided by the rider. 
 If you elect this rider, 100% of your
policy value must be in one or more of the designated funds. You can generally transfer between the designated funds as permitted under your policy; however, you cannot make transfers as provided for in the policy to a non-designated fund while this
rider is in force. If you wish to make a transfer to a non-designated fund, this rider must be terminated, as described above, prior to making the transfer. 
 The annuitant’s spouse as of the rider date is hereafter referred to as the annuitant’s spouse. As it pertains to the benefits of this rider, the annuitant’s spouse cannot be changed. The annuitant’s spouse must be the
sole primary beneficiary and/or a joint owner. The only living owners allowed on the policy to which this rider is attached are the annuitant and the annuitant’s spouse. 
 A rider fee will be deducted on each rider anniversary and upon rider termination as described below. 
 DEFINITIONS: 

 Terms used that are not defined in this rider shall have the same meaning as those in your policy. 
 Designated Funds 
 Investment options authorized for use with this
rider and identified by us as designated funds. 
  

					
	RGMB 31 0708	  	(1)	  	(Income/Death-Joint)

 ARTICLE I CONTINUED 
 Excess Withdrawal 
 The excess of a gross partial withdrawal over the rider withdrawal amount remaining prior to the withdrawal, if any.

 Gross Partial Withdrawal 
 The amount which will be
deducted from your policy value as a result of each partial withdrawal. 
 Rider Anniversary 
 The anniversary of the rider date. 
 Rider Fee 
 The rider fee is the rider fee percentage multiplied by the withdrawal base at the time the fee is deducted. This amount will change if the withdrawal base changes. The
rider fee percentage will not change during the first five rider years, and will only change thereafter due to an automatic step-up. You will be notified of any increase in the rider fee percentage. This fee will be deducted from each investment
option in proportion to the amount of policy value in that investment option on each rider anniversary prior to any increase in the withdrawal base. A portion of this fee will also be deducted when the rider is terminated based on the number of days
that have elapsed since the previous rider anniversary. 
 Rider Monthiversary 
 The same day of the month as the rider date. For months not containing that day, we will use the first day of the following month. 
 Rider Withdrawal Amount 
 The total amount that can be withdrawn from the policy each rider year without reducing the withdrawal base. This
amount will change if the withdrawal base changes. 
 Rider Year 
 Each twelve-month period following the rider date. 
 Withdrawal Base 
 The amount used to calculate the rider withdrawal amount and the rider fee. This amount cannot be taken as a lump sum. 
 ARTICLE II 
 GUARANTEED LIFETIME WITHDRAWAL BENEFIT 
 Under this rider, we guarantee that you can withdraw up to the rider withdrawal amount each rider year, regardless of the policy value, until the annuitant’s or the annuitant’s spouse’s death, whichever
is later. 
 The withdrawal percentage is determined by the attained age (age at last birthday) of the younger of the living spouses at the time of the first
withdrawal of any amount from the policy value taken on or after the rider anniversary following the younger of the living spouse’s 59th birthday. Once the withdrawal percentage is established, it may only be changed by an upgrade and
redetermined at that time. The withdrawal percentages are shown in the table below. 
  

			
	 Attained Age
	  	 Withdrawal Percentage

	 0 - 58
	  	0.0%
	 59 - 69
	  	4.5%
	 70 - 79
	  	5.5%
	 80 +
	  	6.5%

 If the younger of the annuitant and the annuitant’s
spouse is not yet 59 on the rider date, the withdrawal percentage will be zero until the rider anniversary following the younger of the living spouse’s 59th birthday. Withdrawals prior to age 59 1/2 will be subject to the 10% penalty tax. 
 Withdrawals will reduce the
policy value of the policy to which this rider is attached. If the policy value equals zero, you cannot make subsequent premium payments and all other policy features, benefits and guarantees are no longer available. Withdrawals guaranteed by this
rider can be continued by selecting an amount and frequency in accordance with the policy provisions to which this rider attaches. Once the payment amount and frequency are established, they cannot be changed and no additional withdrawals will be
allowed. 
  

					
	RGMB 31 0708	  	(2)	  	(Income/Death-Joint)

 ARTICLE II CONTINUED 
 ISSUE AGE AND SURVIVAL 
 The benefits under this rider depend on the annuitant or annuitant’s spouse being alive at the time of
withdrawal and the amount of the benefit depends on the issue age of the annuitant and annuitant’s spouse. Proof of survival and the issue ages may be required by the Company. 
 If the younger of the spouses’ ages has been misstated, this rider’s fees and benefits will be adjusted to the amounts which would have been calculated for the correct age. However, if this rider would not
have been issued had the age not been misstated, the rider is treated as if it never existed. If withdrawals under the provisions of the rider have already commenced and the misstatement caused the rider withdrawal amount to be overstated, any
withdrawal in excess of the correct rider withdrawal amount will be considered an excess withdrawal and will impact the withdrawal base and rider withdrawal amount. If overpayments occurred when the sum of the accumulated values in all the
designated funds was zero, the amount of the overpayment will be deducted from one or more future payments until this amount is paid in full. 
 RIDER
WITHDRAWAL AMOUNT 
 The rider withdrawal amount will be equal to the greater of 1) and 2), where: 
  

	1)	is the withdrawal percentage multiplied by the withdrawal base; 

  

	2)	is an amount equal to the minimum required distribution amount. Prior to the 1st rider anniversary, this amount is based on the initial policy value on the rider date. After this
time, the minimum required distribution is calculated based on the rules established by the IRS. The minimum required distribution may only be used if all of the following are true: 

  

	 	A)	the policy to which this rider is attached is a tax-qualified policy for which IRS minimum required distributions are required, 

  

	 	 B)
	 the minimum required distributions do not start prior to the annuitant’s attained age 70 1/2, 

  

	 	C)	the minimum required distributions are based on either the Uniform Lifetime table or the Joint Life and Last Survivor Expectancy table, 

  

	 	D)	the minimum required distributions are based on age of the living annuitant or the annuitant’s spouse if the annuitant is deceased. The minimum required distributions can not
be based on the age of someone who is deceased, 

  

	 	E)	the minimum required distributions are based only on the policy to which this rider is attached, and 

  

	 	F)	the minimum required distributions are only for the current rider year. Amounts carried over from past rider years are not considered. 

 If any of the above are not true, then 2) is equal to zero and it is not available as a rider withdrawal amount. 
 If you withdraw less than the rider withdrawal amount in a rider year, the unused portion cannot be carried over to the next rider year. 
  

					
	RGMB 31 0708	  	(3)	  	(Income/Death-Joint)

 ARTICLE II CONTINUED 
 WITHDRAWAL BASE 
 The withdrawal base is used to calculate the rider withdrawal amount. On the rider date, the initial withdrawal base is
equal to the policy value (less any premium enhancements if the rider is added in the first policy year). During any rider year, the withdrawal base is increased by subsequent premium payments (less any premium enhancements), and is reduced for
excess withdrawals. 
 On each rider anniversary, the withdrawal base will be set to the greatest of: 
  

	 	1)	The current withdrawal base; 

  

	 	2)	The policy value on the rider anniversary; 

  

	 	3)	The highest policy value on a rider monthiversary; or 

  

	 	4)	The current withdrawal base immediately prior to anniversary processing increased by the growth rate percentage. 

 Item 3) above will be zero if there have been any excess withdrawals in the current rider year. Item 4) above will be zero after the 10th rider anniversary or
if there have been any withdrawals in the current rider year. 
 DOUBLE WITHDRAWAL BASE BENEFIT 
 If no withdrawals have been made 1) during the first 10 rider years or 2) before the anniversary following the younger of the annuitant or the annuitant’s spouse
attaining age 67, whichever is the later, the withdrawal base on that rider anniversary will be the greater of: 
  

	 	1)	The withdrawal base as calculated in 1-4 above; or 

  

	 	2)	The withdrawal base on the rider date plus any premiums received within 90 days of the rider date multiplied by 2. 

 AUTOMATIC STEP-UP FEATURE 
 The rider receives an automatic step-up on
the rider anniversary if the withdrawal base is set equal to the policy value or the highest policy value on a rider monthiversary. This feature does not require the termination of the existing rider. This rider will continue with the same rider
date and features. The rider fee percentage may be changed due to an automatic step-up, but there will be no increase in the rider fee percentage during the first five rider years. Following the fifth rider anniversary, the rider fee percentage may
be increased due to an automatic step-up, but will not increase more than 0.75% from the initial rider fee percentage shown on page 1. 
 You have the right
to reject an automatic step-up within 30 days following a rider anniversary, if the rider fee percentage increases. If you reject an automatic step-up, you must notify us in a manner which is acceptable to us. Changes as a result of the automatic
step-up feature will be reversed. Any increase in the rider fee percentage will also be reversed. 
 WITHDRAWAL BASE ADJUSTMENTS 
 Gross partial withdrawals, taken in a rider year, less than or equal to the rider withdrawal amount will not reduce the withdrawal base. Excess withdrawals will reduce
the withdrawal base by the withdrawal base adjustment. The withdrawal base adjustment is the greater of 1) and 2), where: 
  

	1)	is the excess withdrawal amount; and 

  

	2)	is the result of (A multiplied by B), divided by C, where: 

  

	 	A)	is the excess withdrawal; 

  

	 	B)	is the withdrawal base prior to the excess withdrawal amount; and 

  

	 	C)	is the policy value after the rider withdrawal amount has been withdrawn, but prior to the withdrawal of the excess withdrawal amount. 

  

					
	RGMB 31 0708	  	(4)	  	(Income/Death-Joint)

 ARTICLE II CONTINUED 
 RIDER DEATH BENEFIT 
 Upon the later of the annuitant or the annuitant’s spouse’s death, we will pay an additional death benefit
amount equal to the excess, if any, of the rider death benefit over the greater of the base policy death benefit or the guaranteed minimum death benefit, if applicable, and this rider will then terminate. The rider death benefit on the rider date is
equal to the policy value (less any premium enhancements, if the rider is added in the first policy year). The rider death benefit after the rider date is equal to the rider death benefit on the rider date plus any premiums (not including premium
enhancements, if any) added after the rider date less any rider death benefit adjustments. 
 The rider death benefit does not reset due to the automatic
step-up or the double withdrawal base benefit. 
 RIDER DEATH BENEFIT ADJUSTMENTS 
 Cumulative gross partial withdrawals, taken in a rider year, up to the rider withdrawal amount will reduce the rider death benefit by the same amount (dollar for dollar). Excess withdrawals will reduce the rider death
benefit by the greater of: 
  

	1)	the excess withdrawal amount; and 

  

	2)	the result of (A divided by B), multiplied by C, where: 

  

	 	A)	is the excess withdrawal; 

  

	 	B)	is the policy value after the rider withdrawal amount has been withdrawn, but prior to the excess withdrawal; and 

  

	 	C)	is the rider death benefit after the rider withdrawal amount has been withdrawn, but prior to the excess withdrawal. 

 ARTICLE III 
 CONTINUATION 
 In the case of spousal joint owners where one spouse is the annuitant, if the spouse who is not the annuitant dies and the surviving spouse is the sole beneficiary, the
surviving spouse may elect to continue the policy and rider. In the case of spousal joint owners where one spouse is the annuitant, if the spouse who is the annuitant dies and the surviving spouse is the sole beneficiary, the rider continues until
the death of the surviving spouse. No additional death benefit will be paid under this rider at this time. 
 ANNUITIZATION 
 On the maximum annuity commencement date, you will have the option to receive lifetime income payments that are no less than your rider withdrawal amount each year. This
option will also guarantee that the sum of all income payments received over time will equal or exceed the greater of the policy value or the rider death benefit on the maximum annuity commencement date. If the annuitant or annuitant’s spouse
should die before the sum of all income payments received equals or exceeds the greater of the policy value or the rider death benefit on the maximum annuity commencement date, the annuitant’s beneficiary will receive a final payment equal to
the difference. 
  

					
	RGMB 31 0708	  	(5)	  	(Income/Death-Joint)

 ARTICLE III CONTINUED 
 RIDER UPGRADE 
 You may elect, in writing, to upgrade the withdrawal base to the policy value within 30 days after the fifth rider
anniversary and every fifth rider anniversary thereafter, subject to the issue age restrictions on the new rider. If an upgrade is elected, this rider will terminate and a new rider with the same features will be issued with a new rider date. The
new rider will have its own growth rate percentage which may be lower than this rider’s growth rate percentage. The new rider will have its own rider fee percentage which may be higher than this rider’s rider fee percentage. 
 At the time of upgrade, the rider death benefit amount will also be upgraded to the policy value and the rider withdrawal amount will be recalculated based on the new
withdrawal base. 
 The new rider date will be the date the Company receives all information necessary, in a written form acceptable to the Company, to
process the upgrade. 
 Signed for us at our home office. 
  

							
		 	Craig D. Vermie	 	Brenda Clancy	 	
		 	SECRETARY	 	PRESIDENT	 	

  

					
	RGMB 31 0708	  	(6)	  	(Income/Death-Joint)

			
	

	  	 Home Office:
 4333 Edgewood Road N.E.

 Cedar Rapids, Iowa 52499
 (319)355-8511

 GUARANTEED LIFETIME WITHDRAWAL BENEFIT RIDER 
 This rider is issued as a part of the policy (contract) to which it is attached. Policy refers to the individual policy if the rider is attached to an individual annuity
or the group certificate if the rider is attached to a group annuity. 
 All provisions of the policy that do not conflict with this rider apply to this
rider. In the event of any conflict between the provisions of this rider and the provisions of the policy, the provisions of this rider shall prevail over the provisions of the policy. 
 Rider Data Specification 
  

									
		 	Policy Number:	 		  	12345	  	
		 	Rider Date:	 		  	07/01/2008	  	
		 	Growth Rate Percentage:	 		  	5.00%	  	
		 	Initial Rider Fee Percentage:	 		  	0.75%	  	
		 	Annuitant:	 		  	JOHN DOE	  	
		 	Annuitant’s Issue Age/Sex:	 		  	35 / MALE	  	

 ARTICLE I 
 You may cancel this rider before midnight of the thirtieth calendar day after you received it and no rider fees will be assessed. 
 This
rider will terminate upon the annuitant’s death, if you surrender your policy, elect to upgrade (as described in Article III of this rider), or elect to receive annuity payments under your policy. This rider will also terminate if the policy to
which this rider is attached, is assigned or if the owner is changed without our approval. You can terminate this rider within 30 days after the fifth rider anniversary and every fifth rider anniversary thereafter. Termination of the rider will
result in the loss of all benefits provided by the rider. 
 If you elect this rider, 100% of your policy value must be in one or more of the designated
funds. You can generally transfer between the designated funds as permitted under your policy; however, you cannot make transfers as provided for in the policy to a non-designated fund while this rider is in force. If you wish to make a transfer to
a non-designated fund, this rider must be terminated, as described above, prior to making the transfer. 
 A rider fee will be deducted on each rider
anniversary and upon rider termination as described below. 
 DEFINITIONS: 
 Terms used that are not defined in this rider shall have the same meaning as those in your policy. 
 Designated Funds

 Investment options authorized for use with this rider and identified by us as designated funds. 
  

					
	RGMB 31 0708	  	(1)	  	(Income - Single)

 ARTICLE I CONTINUED 
 Excess Withdrawal 
 The excess of a gross partial withdrawal over the rider withdrawal amount remaining prior to the withdrawal, if any.

 Gross Partial Withdrawal 
 The amount which will be
deducted from your policy value as a result of each partial withdrawal. 
 Rider Anniversary 
 The anniversary of the rider date. 
 Rider Fee 
 The rider fee is the rider fee percentage multiplied by the withdrawal base at the time the fee is deducted. This amount will change if the withdrawal base changes. The
rider fee percentage will not change during the first five rider years, and will only change thereafter due to an automatic step-up. You will be notified of any increase in the rider fee percentage. This fee will be deducted from each investment
option in proportion to the amount of policy value in that investment option on each rider anniversary prior to any increase in the withdrawal base. A portion of this fee will also be deducted when the rider is terminated based on the number of days
that have elapsed since the previous rider anniversary. 
 Rider Monthiversary 
 The same day of the month as the rider date. For months not containing that day, we will use the first day of the following month. 
 Rider Withdrawal Amount 
 The total amount that can be withdrawn from the policy each rider year without reducing the withdrawal base. This
amount will change if the withdrawal base changes. 
 Rider Year 
 Each twelve-month period following the rider date. 
 Withdrawal Base 
 The amount used to calculate the rider withdrawal amount and the rider fee. This amount cannot be taken as a lump sum. 
 ARTICLE II 
 GUARANTEED LIFETIME WITHDRAWAL BENEFIT 
 Under this rider, we guarantee that you can withdraw up to the rider withdrawal amount each rider year, regardless of the policy value, until the annuitant’s death. The withdrawal percentage is determined by the
attained age (age at last birthday) of the annuitant at the time of the first withdrawal of any amount from the policy value taken on or after the rider anniversary following the annuitant’s 59th birthday. Once the withdrawal percentage is
established, it may only be changed by an upgrade and redetermined at that time. The withdrawal percentages are shown in the table below. 
  

			
	 Attained Age
	  	 Withdrawal Percentage

	 0 - 58
	  	0.0%
	 59 - 69
	  	5.0%
	 70 - 79
	  	6.0%
	 80 +
	  	7.0%

 If the annuitant is not yet 59 on the rider date, the
withdrawal percentage will be zero until the rider anniversary following the annuitant’s 59th birthday. Withdrawals prior to age 59 1/2 will be subject to the 10% penalty tax. 
 Withdrawals will reduce the policy value of the policy to which this rider
is attached. If the policy value equals zero, you cannot make subsequent premium payments and all other policy features, benefits and guarantees are no longer available. Withdrawals guaranteed by this rider can be continued by selecting an amount
and frequency in accordance with the policy provisions to which this rider attaches. Once the payment amount and frequency are established, they cannot be changed and no additional withdrawals will be allowed. 
  

					
	RGMB 31 0708	  	(2)	  	(Income - Single)

 ARTICLE II CONTINUED 
 ISSUE AGE AND SURVIVAL 
 The benefits under this rider depend on the annuitant being alive at the time of withdrawal and the amount of the
benefit depends on the issue age of the annuitant. Proof of survival and the issue age may be required by the Company. 
 If the annuitant’s age has
been misstated, this rider’s fees and benefits will be adjusted to the amounts which would have been calculated for the correct age. However, if this rider would not have been issued had the age not been misstated, the rider is treated as if it
never existed. If withdrawals under the provisions of the rider have already commenced and the misstatement caused the rider withdrawal amount to be overstated, any withdrawal in excess of the correct rider withdrawal amount will be considered an
excess withdrawal and will impact the withdrawal base and rider withdrawal amount. If overpayments occurred when the sum of the accumulated values in all the designated funds was zero, the amount of that overpayment will be deducted from one or more
future payments until this amount is paid in full. 
 RIDER WITHDRAWAL AMOUNT 
 The rider withdrawal amount will be equal to the greater of 1) and 2), where: 
  

	1)	is the withdrawal percentage multiplied by the withdrawal base; 

  

	2)	is an amount equal to the minimum required distribution amount. Prior to the 1st rider anniversary, this amount is based on the initial policy value on the rider date. After this
time, the minimum required distribution is calculated based on the rules established by the IRS. The minimum required distribution may only be used if all of the following are true: 

  

	 	A)	the policy to which this rider is attached is a tax-qualified policy for which IRS minimum required distributions are required, 

  

	 	 B)
	 the minimum required distributions do not start prior to the annuitant’s attained age 70 1/2, 

  

	 	C)	the minimum required distributions are based on either the Uniform Lifetime table or the Joint Life and Last Survivor Expectancy table, 

  

	 	D)	the minimum required distributions are based on age of the living annuitant. The minimum required distributions can not be based on the age of someone who is deceased,

  

	 	E)	the minimum required distributions are based only on the policy to which this rider is attached, and 

  

	 	F)	the minimum required distributions are only for the current rider year. Amounts carried over from past rider years are not considered. 

 If any of the above are not true, then 2) is equal to zero and it is not available as a rider withdrawal amount. 
 If you withdraw less than the rider withdrawal amount in a rider year, the unused portion cannot be carried over to the next rider year. 
  

					
	RGMB 31 0708	  	(3)	  	(Income - Single)

 ARTICLE II CONTINUED 
 WITHDRAWAL BASE 
 The withdrawal base is used to calculate the rider withdrawal amount. On the rider date, the initial withdrawal base is
equal to the policy value (less any premium enhancements if the rider is added in the first policy year). During any rider year, the withdrawal base is increased by subsequent premium payments (less any premium enhancements), and is reduced for
excess withdrawals. 
 On each rider anniversary, the withdrawal base will be set to the greatest of: 
  

	 	1)	The current withdrawal base; 

  

	 	2)	The policy value on the rider anniversary; 

  

	 	3)	The highest policy value on a rider monthiversary; or 

  

	 	4)	The current withdrawal base immediately prior to anniversary processing increased by the growth rate percentage. 

 Item 3) above will be zero if there have been any excess withdrawals in the current rider year. Item 4) above will be zero after the 10th rider anniversary or
if there have been any withdrawals in the current rider year. 
 DOUBLE WITHDRAWAL BASE BENEFIT 
 If no withdrawals have been made 1) during the first 10 rider years or 2) before the anniversary following the annuitant attaining age 67, whichever is the later, the
withdrawal base on that rider anniversary will be the greater of: 
  

	 	1)	The withdrawal base as calculated in 1-4 above; or 

  

	 	2)	The withdrawal base on the rider date plus any premiums received within 90 days of the rider date multiplied by 2. 

 AUTOMATIC STEP-UP FEATURE 
 The rider receives an automatic step-up on
the rider anniversary if the withdrawal base is set equal to the policy value or the highest policy value on a rider monthiversary. This feature does not require the termination of the existing rider. This rider will continue with the same rider
date and features. The rider fee percentage may be changed due to an automatic step-up, but there will be no increase in the rider fee percentage during the first five rider years. Following the fifth rider anniversary, the rider fee percentage may
be increased due to an automatic step-up, but will not increase more than 0.75% from the initial rider fee percentage shown on page 1. 
 You have the right
to reject an automatic step-up within 30 days following a rider anniversary, if the rider fee percentage increases. If you reject an automatic step-up, you must notify us in a manner which is acceptable to us. Changes as a result of the automatic
step-up feature will be reversed. And any increase in the rider fee percentage will also be reversed. 
 WITHDRAWAL BASE ADJUSTMENTS 
 Gross partial withdrawals, taken in a rider year, less than or equal to the rider withdrawal amount will not reduce the withdrawal base. Excess withdrawals will reduce
the withdrawal base by the withdrawal base adjustment. The withdrawal base adjustment is the greater of 1) and 2), where: 
  

	1)	is the excess withdrawal amount; and 

  

	2)	is the result of (A multiplied by B), divided by C, where: 

  

	 	A)	is the excess withdrawal; 

  

	 	B)	is the withdrawal base prior to the excess withdrawal amount; and 

  

	 	C)	is the policy value after the rider withdrawal amount has been withdrawn, but prior to the withdrawal of the excess withdrawal amount. 

  

					
	RGMB 31 0708	  	(4)	  	(Income - Single)

 ARTICLE III 
 CONTINUATION 
 In the case of spousal joint owners where one spouse is the annuitant, if the spouse who is not the annuitant dies and the
surviving spouse is the sole beneficiary, the surviving spouse may elect to continue the policy and rider. In the case of spousal joint owners where one spouse is the annuitant, if the spouse who is the annuitant dies, this rider will terminate.

 In the case of non-spousal joint owners where an owner who is not the annuitant dies, the surviving owner (who is also the sole designated beneficiary)
may elect to receive lifetime income payments under this rider instead of receiving any benefits applicable to the policy. The lifetime income payments must begin no later than 1 year after the owner’s death and will be equal to the rider
withdrawal amount divided by the number of payments made per year. Once the payments begin, no additional premium payments will be accepted and no additional withdrawals will be paid. 
 ANNUITIZATION 
 On the maximum annuity commencement date, you will have the option to receive lifetime income payments
that are no less than your rider withdrawal amount each year. This option will also guarantee that the sum of all income payments received over time will equal or exceed the policy value on the maximum annuity commencement date. If the annuitant
should die before the sum of all income payments received equals or exceeds the policy value on the maximum annuity commencement date, the annuitant’s beneficiary will receive a final payment equal to the difference. 
 RIDER UPGRADE 
 You may elect, in writing, to upgrade the withdrawal
base to the policy value within 30 days after the fifth rider anniversary and every fifth rider anniversary thereafter, subject to the issue age restrictions on the new rider. If an upgrade is elected, this rider will terminate and a new rider with
the same features will be issued with a new rider date. The new rider will have its own growth rate percentage which may be lower than this rider’s growth rate percentage. The new rider will have its own rider fee percentage which may be higher
than this rider’s rider fee percentage. 
 At the time of upgrade, the rider withdrawal amount will be recalculated based on the new withdrawal base.

 The new rider date will be the date the Company receives all information necessary, in a written form acceptable to the Company, to process the upgrade.

 Signed for us at our home office. 
  

							
		 	Craig D. Vermie	 	Brenda Clancy	 	
		 	SECRETARY	 	PRESIDENT	 	

  

					
	RGMB 31 0708	  	(5)	  	(Income - Single)

			
	

	  	 Home Office:
 4333 Edgewood Road N.E.

 Cedar Rapids, Iowa 52499
 (319)355-8511

 GUARANTEED LIFETIME WITHDRAWAL BENEFIT RIDER 
 This rider is issued as a part of the policy (contract) to which it is attached. Policy refers to the individual policy if the rider is attached to an individual annuity
or the group certificate if the rider is attached to a group annuity. 
 All provisions of the policy that do not conflict with this rider apply to this
rider. In the event of any conflict between the provisions of this rider and the provisions of the policy, the provisions of this rider shall prevail over the provisions of the policy. 
 Rider Data Specification 
  

									
		 	Policy Number:	 		  	12345	  	
		 	Rider Date:	 		  	07/01/2008	  	
		 	Growth Rate Percentage:	 		  	5.00%	  	
		 	Initial Rider Fee Percentage:	 		  	0.75%	  	
		 	Annuitant:	 		  	JOHN DOE	  	
		 	Annuitant’s Issue Age/Sex:	 		  	35 / MALE	  	
		 	Annuitant’s Spouse:	 		  	JANE DOE	  	
		 	Annuitant’s Spouse’s Issue Age/Sex:	 		  	35 / FEMALE	  	

 ARTICLE I 
 You may cancel this rider before midnight of the thirtieth calendar day after you received it and no rider fees will be assessed. 
 This
rider will terminate upon the later of the annuitant’s or annuitant’s spouse’s death, if you surrender your policy, elect to upgrade (as described in Article III of this rider), or elect to receive annuity payments under your policy.
This rider will also terminate if the policy to which this rider is attached, is assigned or if the owner is changed without our approval. You can terminate this rider within 30 days after the fifth rider anniversary and every fifth rider
anniversary thereafter. Termination of the rider will result in the loss of all benefits provided by the rider. 
 If you elect this rider, 100% of your
policy value must be in one or more of the designated funds. You can generally transfer between the designated funds as permitted under your policy; however, you cannot make transfers as provided for in the policy to a non-designated fund while this
rider is in force. If you wish to make a transfer to a non-designated fund, this rider must be terminated, as described above, prior to making the transfer. 
 The annuitant’s spouse as of the rider date is hereafter referred to as the annuitant’s spouse. As it pertains to the benefits of this rider, the annuitant’s spouse cannot be changed. The annuitant’s spouse must be the
sole primary beneficiary and/or a joint owner. The only living owners allowed on the policy to which this rider is attached are the annuitant and the annuitant’s spouse. 
 A rider fee will be deducted on each rider anniversary and upon rider termination as described below. 
 DEFINITIONS: 

 Terms used that are not defined in this rider shall have the same meaning as those in your policy. 
 Designated Funds 
 Investment options authorized for use with this
rider and identified by us as designated funds. 
  

					
	RGMB 31 0708	  	(1)	  	(Income - Joint)

 ARTICLE I CONTINUED 
 Excess Withdrawal 
 The excess of a gross partial withdrawal over the rider withdrawal amount remaining prior to the withdrawal, if any.

 Gross Partial Withdrawal 
 The amount which will be
deducted from your policy value as a result of each partial withdrawal. 
 Rider Anniversary 
 The anniversary of the rider date. 
 Rider Fee 
 The rider fee is the rider fee percentage multiplied by the withdrawal base at the time the fee is deducted. This amount will change if the withdrawal base changes. The
rider fee percentage will not change during the first five rider years, and will only change thereafter due to an automatic step-up. You will be notified of any increase in the rider fee percentage. This fee will be deducted from each investment
option in proportion to the amount of policy value in that investment option on each rider anniversary prior to any increase in the withdrawal base. A portion of this fee will also be deducted when the rider is terminated based on the number of days
that have elapsed since the previous rider anniversary. 
 Rider Monthiversary 
 The same day of the month as the rider date. For months not containing that day, we will use the first day of the following month. 
 Rider Withdrawal Amount 
 The total amount that can be withdrawn from the policy each rider year without reducing the withdrawal base. This
amount will change if the withdrawal base changes. 
 Rider Year 
 Each twelve-month period following the rider date. 
 Withdrawal Base 
 The amount used to calculate the rider withdrawal amount and the rider fee. This amount cannot be taken as a lump sum. 
 ARTICLE II 
 GUARANTEED LIFETIME WITHDRAWAL BENEFIT 
 Under this rider, we guarantee that you can withdraw up to the rider withdrawal amount each rider year, regardless of the policy value, until the annuitant’s or the annuitant’s spouse’s death, whichever
is later. 
 The withdrawal percentage is determined by the attained age (age at last birthday) of the younger of the living spouses at the time of the first
withdrawal of any amount from the policy value taken on or after the rider anniversary following the younger of the living spouse’s 59th birthday. Once the withdrawal percentage is established, it may only be changed by an upgrade and
redetermined at that time. The withdrawal percentages are shown in the table below. 
  

			
	 Attained Age
	  	 Withdrawal Percentage

	 0 - 58
	  	0.0%
	 59 - 69
	  	4.5%
	 70 - 79
	  	5.5%
	 80 +
	  	6.5%

 If the younger of the annuitant and the annuitant’s
spouse is not yet 59 on the rider date, the withdrawal percentage will be zero until the rider anniversary following the younger of the living spouse’s 59th birthday. Withdrawals prior to age 59 1/2 will be subject to the 10% penalty tax. 
 Withdrawals will reduce the
policy value of the policy to which this rider is attached. If the policy value equals zero, you cannot make subsequent premium payments and all other policy features, benefits and guarantees are no longer available. Withdrawals guaranteed by this
rider can be continued by selecting an amount and frequency in accordance with the policy provisions to which this rider attaches. Once the payment amount and frequency are established, they cannot be changed and no additional withdrawals will be
allowed. 
  

					
	RGMB 31 0708	  	(2)	  	(Income - Joint)

 ARTICLE II CONTINUED 
 ISSUE AGE AND SURVIVAL 
 The benefits under this rider depend on the annuitant or annuitant’s spouse being alive at the time of
withdrawal and the amount of the benefit depends on the issue age of the annuitant and annuitant’s spouse. Proof of survival and the issue ages may be required by the Company. 
 If the younger of the spouses’ ages has been misstated, this rider’s fees and benefits will be adjusted to the amounts which would have been calculated for the correct age. However, if this rider would not
have been issued had the age not been misstated, the rider is treated as if it never existed. If withdrawals under the provisions of the rider have already commenced and the misstatement caused the rider withdrawal amount to be overstated, any
withdrawal in excess of the correct rider withdrawal amount will be considered an excess withdrawal and will impact the withdrawal base and rider withdrawal amount. If overpayments occurred when the sum of the accumulated values in all the
designated funds was zero, the amount of the overpayment will be deducted from one or more future payments until this amount is paid in full. 
 RIDER
WITHDRAWAL AMOUNT 
 The rider withdrawal amount will be equal to the greater of 1) and 2), where: 
  

	1)	is the withdrawal percentage multiplied by the withdrawal base; 

  

	2)	is an amount equal to the minimum required distribution amount. Prior to the 1st rider anniversary, this amount is based on the initial policy value on the rider date. After this
time, the minimum required distribution is calculated based on the rules established by the IRS. The minimum required distribution may only be used if all of the following are true: 

  

	 	A)	the policy to which this rider is attached is a tax-qualified policy for which IRS minimum required distributions are required, 

  

	 	 B)
	 the minimum required distributions do not start prior to the annuitant’s attained age 70 1/2, 

  

	 	C)	the minimum required distributions are based on either the Uniform Lifetime table or the Joint Life and Last Survivor Expectancy table, 

  

	 	D)	the minimum required distributions are based on age of the living annuitant or the annuitant’s spouse if the annuitant is deceased. The minimum required distributions can not
be based on the age of someone who is deceased, 

  

	 	E)	the minimum required distributions are based only on the policy to which this rider is attached, and 

  

	 	F)	the minimum required distributions are only for the current rider year. Amounts carried over from past rider years are not considered. 

 If any of the above are not true, then 2) is equal to zero and it is not available as a rider withdrawal amount. 
 If you withdraw less than the rider withdrawal amount in a rider year, the unused portion cannot be carried over to the next rider year. 
  

					
	RGMB 31 0708	  	(3)	  	(Income - Joint)

 ARTICLE II CONTINUED 
 WITHDRAWAL BASE 
 The withdrawal base is used to calculate the rider withdrawal amount. On the rider date, the initial withdrawal base is
equal to the policy value (less any premium enhancements if the rider is added in the first policy year). During any rider year, the withdrawal base is increased by subsequent premium payments (less any premium enhancements), and is reduced for
excess withdrawals. 
 On each rider anniversary, the withdrawal base will be set to the greatest of: 
  

	 	1)	The current withdrawal base; 

  

	 	2)	The policy value on the rider anniversary; 

  

	 	3)	The highest policy value on a rider monthiversary; or 

  

	 	4)	The current withdrawal base immediately prior to anniversary processing increased by the growth rate percentage. 

 Item 3) above will be zero if there have been any excess withdrawals in the current rider year. Item 4) above will be zero after the 10th rider anniversary or
if there have been any withdrawals in the current rider year. 
 DOUBLE WITHDRAWAL BASE BENEFIT 
 If no withdrawals have been made 1) during the first 10 rider years or 2) before the anniversary following the younger of the annuitant or annuitant’s spouse
attaining age 67, whichever is the later, the withdrawal base on that rider anniversary will be the greater of: 
  

	 	1)	The withdrawal base as calculated in 1-4 above; or 

  

	 	2)	The withdrawal base on the rider date plus any premiums received within 90 days of the rider date multiplied by 2. 

 AUTOMATIC STEP-UP FEATURE 
 The rider receives an automatic step-up on
the rider anniversary if the withdrawal base is set equal to the policy value or the highest policy value on a rider monthiversary. This feature does not require the termination of the existing rider. This rider will continue with the same rider
date and features. The rider fee percentage may be changed due to an automatic step-up, but there will be no increase in the rider fee percentage during the first five rider years. Following the fifth rider anniversary, the rider fee percentage may
be increased due to an automatic step-up, but will not increase more than 0.75% from the initial rider fee percentage shown on page 1. 
 You have the right
to reject an automatic step-up within 30 days following a rider anniversary, if the rider fee percentage increases. If you reject an automatic step-up, you must notify us in a manner which is acceptable to us. Changes as a result of the automatic
step-up feature will be reversed. Any increase in the rider fee percentage will also be reversed. 
 WITHDRAWAL BASE ADJUSTMENTS 
 Gross partial withdrawals, taken in a rider year, less than or equal to the rider withdrawal amount will not reduce the withdrawal base. Excess withdrawals will reduce
the withdrawal base by the withdrawal base adjustment. The withdrawal base adjustment is the greater of 1) and 2), where: 
  

	1)	is the excess withdrawal amount; and 

  

	2)	is the result of (A multiplied by B), divided by C, where: 

  

	 	A)	is the excess withdrawal; 

  

	 	B)	is the withdrawal base prior to the excess withdrawal amount; and 

  

	 	C)	is the policy value after the rider withdrawal amount has been withdrawn, but prior to the withdrawal of the excess withdrawal amount. 

  

					
	RGMB 31 0708	  	(4)	  	(Income - Joint)

 ARTICLE III 
 CONTINUATION 
 In the case of spousal joint owners where one spouse is the annuitant, if the spouse who is not the annuitant dies and the
surviving spouse is the sole beneficiary, the surviving spouse may elect to continue the policy and rider. In the case of spousal joint owners where one spouse is the annuitant, if the spouse who is the annuitant dies and the surviving spouse is the
sole beneficiary, the rider continues until the death of the surviving spouse. 
 ANNUITIZATION 
 On the maximum annuity commencement date, you will have the option to receive lifetime income payments that are no less than your rider withdrawal amount each year. This
option will also guarantee that the sum of all income payments received over time will equal or exceed the policy value on the maximum annuity commencement date. If the annuitant or annuitant’s spouse should die before the sum of all income
payments received equals or exceeds the policy value on the maximum annuity commencement date, the annuitant’s beneficiary will receive a final payment equal to the difference. 
 RIDER UPGRADE 
 You may elect, in writing, to upgrade the withdrawal base to the policy value within 30 days after the
fifth rider anniversary and every fifth rider anniversary thereafter, subject to the issue age restrictions on the new rider. If an upgrade is elected, this rider will terminate and a new rider with the same features will be issued with a new rider
date. The new rider will have its own growth rate percentage which may be lower than this rider’s growth rate percentage. The new rider will have its own rider fee percentage which may be higher than this rider’s rider fee percentage.

 At the time of upgrade, the rider withdrawal amount will be recalculated based on the new withdrawal base. 
 The new rider date will be the date the Company receives all information necessary, in a written form acceptable to the Company, to process the upgrade. 
 Signed for us at our home office. 
  

							
		 	Craig D. Vermie	 	Brenda Clancy	 	
		 	SECRETARY	 	PRESIDENT	 	

  

					
	RGMB 31 0708	  	(5)	  	(Income - Joint)Note Purchase Agreement, dated as of December 5, 2006

 Exhibit 10.18 
  
 NOTE PURCHASE AGREEMENT 
  
 Relating to 
  
 $5,000,000 
 AngioDynamics, Inc. 
 Taxable Adjustable Rate Notes, Series 2006 
  
 Dated: December 5, 2006 

 NOTE PURCHASE AGREEMENT 
  
 This NOTE PURCHASE AGREEMENT is dated December 5, 2006, by and between ANGIODYNAMICS, INC., a Delaware corporation (the
“Issuer”), and KEYBANC CAPITAL MARKETS, a division of McDonald Investments Inc., an Ohio corporation, as underwriter (the “Underwriter”). 
  
 1. Description of the Notes. 
  
 The Issuer proposes to issue its $5,000,000 principal amount of Taxable Adjustable Rate Notes, Series 2006 (the “Notes”). The proceeds of the
Notes will be used (i) to finance the construction, improving and equipping of an approximately 35,660 square foot facility including a warehouse and distribution center, located on an approximately 565,020 square foot parcel of land, located
at 603 Queensbury Avenue, Queensbury, New York, for use as a warehouse and distribution center for medical device products, (ii) to finance the costs of issuance of Notes and (iii) for other purposes as are approved by the Letter of Credit
Bank (the “Project”). 
  
 (a) The Notes will mature on
December 1, 2026, subject to prior redemption as described in the Offering Circular (as hereinafter defined). The initial interest rate on the Series 2006 Notes, effective on the date of their initial delivery through and including the
following Wednesday shall be             % per annum. The Notes will be issued pursuant to a Trust Indenture, dated as of December 1, 2006 (the “Indenture”), between the
Issuer and The Huntington National Bank, as trustee (the “Trustee”) for the holders of the Notes. The Notes will be payable from and secured by a pledge of certain funds to the Trustee under the Indenture, including certain payments to be
made by the Issuer under the Indenture. The Notes are also secured by and paid from draws under an irrevocable direct pay Letter of Credit (the “Letter of Credit”), dated as of the date of initial delivery of the Notes, issued by KeyBank
National Association (the “Bank”). The Trustee is entitled to draw under the Letter of Credit (1) an amount equal to the principal of the outstanding Notes (i) to pay the principal of the Notes when due at maturity or upon
redemption or acceleration or (ii) to pay the portion of the purchase price corresponding to the principal of Notes purchased pursuant to the Indenture to the extent remarketing proceeds are not available for such purpose, plus (2) an
amount equal to 98 days’ interest thereon (calculated at a maximum rate of 10% per annum) (i) to pay interest on the Notes when due or (ii) to pay the portion of the purchase price of Notes purchased pursuant to the Indenture
corresponding to the accrued interest, if any, on such Notes to the extent remarketing proceeds are not available for such purchase. Pursuant to a Reimbursement Agreement, dated as of December 1, 2006 (the “Reimbursement Agreement”),
between the Issuer and the Bank, the Issuer will agree to reimburse the Bank for amounts drawn on the Letter of Credit. The Issuer’s obligations under the Reimbursement Agreement will be evidenced or secured by a Security Agreement, dated as of
December 1, 2006 and a Note Pledge Agreement, dated as of December 1, 2006 (collectively, the “Bank Credit Documents”). Pursuant to the Indenture, holders of the Notes will have the option to tender Notes for purchase, which
tendered Notes will be purchased with funds from the remarketing of the Notes or drawings on the Letter of Credit, as provided in the Indenture. 
  

 1 

 (b) The Notes are being initially issued without registration under the provisions of the Securities Act
of 1933, as amended (the “Securities Act”) pursuant to exemption from such registration under Section 3(a)(2) of the Securities Act and without registration under any state securities laws. It is intended that the Notes may be
purchased by the Underwriter without registration of any security under the Securities Act of 1933, as amended (the “Securities Act”), or qualification of the Indenture under the Trust Indenture Act of 1939 (the “Trust Indenture
Act”). 
  
 (c) To provide for the remarketing of the Notes
pursuant to the terms of the Indenture, the Issuer and the Underwriter, as Remarketing Agent, will enter into a Remarketing Agreement, dated as of December 1, 2006 (the “Remarketing Agreement”). 
  
 (d) Pursuant to the Indenture and the Letter of Representations as defined
therein, the Notes are being issued in book-entry only form, and the parties acknowledge that, where appropriate, references herein to Notes shall mean Beneficial Ownership Interests, as defined in the Indenture. 
  
 2. Purchase and Closing. 
  
 (a) Subject to the terms and conditions and in reliance upon the
representations, warranties and agreements set forth herein, the Issuer hereby agrees to sell to the Underwriter and the Underwriter hereby agrees to purchase from the Issuer all (but not less than all) of the Notes as contemplated herein. The
Underwriter shall purchase the Notes from the Issuer at an aggregate purchase price of $4,968,050.00, representing the aggregate principal amount of the Notes ($5,000,000.00) less Underwriter’s discount of $31,250.00, less Underwriter’s
expenses of $700.00. In connection with the purchase of the Notes, the Issuer shall pay to the Underwriter the expenses described in Section 7 hereof (net of the underwriter’s discount as set forth in the preceding sentence), to be payable
by wire transfer in immediately available funds on the Closing Date (as defined below). 
  
 (b) The Issuer has delivered or shall cause to be delivered to the Underwriter copies of the Offering Circular, dated December 1, 2006 (the “Offering Circular”) in quantities and at times sufficient to
enable the Underwriter to comply with the applicable rules of the Securities and Exchange Commission. The Issuer hereby approves the use and distribution by the Underwriter to persons who may be interested in the purchase of the Notes of the
Offering Circular, and hereby authorizes the Underwriter to use and distribute the Offering Circular, and copies of the Indenture and all other documents, including without limitation the Letter of Credit and related documents, to be executed in
connection with the purchase of the Notes. 
  
 (c) The Underwriter
covenants and agrees to send to each person that purchases Notes from the Underwriter a copy of the Offering Circular concurrently with or prior to sending to such purchaser a final written confirmation of the sale. Further, the Underwriter agrees
not to use the Offering Circular for the purpose of marketing the Notes subsequent to receiving written notice from the Bank or the Issuer which (i) states that the Offering Circular contains an untrue statement of a material fact or omits to
state a material fact, and (ii) specifically identifies the material fact or omission, provided that upon the amendment of the Offering Circular to the satisfaction of the party delivering the notice pursuant hereto, the Underwriter may,
subject to the continuing obligations contained herein, resume use of the amended Offering Circular in marketing the Notes. 
  

 2 

 (d) At 9:00 a.m. Eastern time on December 6, 2006, or at such earlier or later time or date as
shall be agreed by the Issuer, the Bank and the Underwriter (such time and date being herein referred to as the “Closing Date”), the Issuer will issue and deliver the Notes in definitive form (being in the aggregate principal amount of
$5,000,000, registered in the name of Cede & Co.), duly executed by the Issuer and authenticated by the Trustee as provided for in the Indenture; and the Underwriter shall pay the purchase price of the Notes by wire transfer in immediately
available funds to an account specified by the Trustee, for the account of the Issuer (such delivery and payment being herein referred to as the “Closing”). The Notes shall be delivered to the Trustee to be held in its custody pursuant to
a FAST delivery arrangement with and on behalf of The Depository Trust Company (“DTC”), in respective denominations equal to the aggregate principal amount of Notes. It is anticipated that CUSIP identification numbers will be placed on the
Notes, but neither the failure to place those numbers on any Note nor any error with respect thereto shall constitute cause for failure or refusal by the Underwriter to accept delivery of the Notes in accordance with the terms of this Note Purchase
Agreement. 
  
 3. Issuer’s Representations and
Warranties. The Issuer makes the following representations and warranties to the Underwriter: 
  
 (a) The Issuer is a corporation, duly organized, validly existing under the laws of the State of Delaware, and has full legal right, power and authority
to own the Issuer’s properties and conduct the Issuer’s business. The Issuer has full legal right, power and authority to execute and deliver this Note Purchase Agreement, the Indenture, the Notes, the Bank Credit Documents to which it is
a party, the Reimbursement Agreement, the Letter of Representations and the Remarketing Agreement, to authorize the distribution and use of the Offering Circular, and to take any and all such action as may be required on its part to carry out, give
effect to and consummate the transactions contemplated by this Note Purchase Agreement, the Indenture, the Notes, the Bank Credit Documents to which it is a party, the Remarketing Agreement, the Reimbursement Agreement and the Letter of
Representations (all of the foregoing are collectively hereinafter referred to as the “Issuer Documents”). 
  
 (b) The Issuer has duly authorized, executed and delivered this Note Purchase Agreement, and on the Closing Date will have duly authorized, executed and
delivered the other Issuer Documents, and has taken or will take all such action as may be required on the part of the Issuer to carry out, give effect to and consummate the transactions contemplated by each of the Issuer Documents. This Note
Purchase Agreement constitutes, and the other Issuer Documents, when executed and delivered, will constitute legal, valid and binding obligations of the Issuer, enforceable in accordance with their respective terms, except that enforceability may be
limited by laws relating to bankruptcy, reorganization or other similar laws affecting the rights of creditors or by equitable principles which may affect the availability of specific performance or other equitable remedies. 
  
 (c) Neither the execution and delivery of the Issuer Documents, nor the
consummation of the transactions contemplated therein or the compliance with the provisions thereof, will conflict with, or constitute on the part of the Issuer a violation of, or a breach of or default under, the Issuer’s Certificate of
Incorporation, By-laws or any material indenture, mortgage, commitment, note or other agreement or instrument to which the Issuer is a party or by which the Issuer is bound, or any order, rule or regulation of any court or governmental 

  

 3 

 
agency or body having jurisdiction over the Issuer or any of its activities or properties. All consents, approvals, authorizations and orders of governmental
or regulatory authorities which are required for the Issuer’s execution and delivery of, consummation of the transactions contemplated by and compliance with the provisions the Issuer Documents have been obtained. 
  
 (d) Except as disclosed to the Underwriter, there is no action, suit,
proceeding, inquiry or investigation, at law or in equity, before or by any court, public board or body, pending or, to the best of the knowledge of the Issuer, threatened, against the Issuer, or the actions taken or contemplated to be taken by the
Issuer, nor, to the best of the knowledge of the Issuer, is there any basis therefor, which would be expected to materially adversely affect the business, financial condition or operations of the Issuer, or the transactions contemplated by, or the
validity or enforceability of the Issuer Documents. 
  
 (e) No
event has occurred and no condition exists which, upon issuance of the Notes, would constitute (or with the giving of notice or lapse of time, or both, would constitute) an Event of Default under any of the Issuer Documents. 
  
 (f) The Issuer is not in violation of any provisions of, or in default under,
its Certificate of Incorporation, By-laws, or any statute, material indenture, mortgage, commitment, note or other agreement or instrument to which it is a party or by which it is bound, or any order, rule, regulation or decision of any court or
governmental agency or body having jurisdiction over it or any of its activities or properties, which violation would materially and adversely affect its business or financial condition. 
  
 (g) The Issuer hereby ratifies and authorizes the distribution and use of the Offering Circular. Subject to the proviso that
the Offering Circular is a summary and does not contain detailed information about the Issuer or its intended use of proceeds from the sale of the Notes and that the Issuer makes no representation as to the financial condition of the Bank or the
information contained in the Offering Circular on the cover page and under the captions “INTRODUCTORY STATEMENT” (except to the extent pertaining to the Issuer, the Project or the use of Note Proceeds), “THE LETTER OF CREDIT
BANK”, “THE CREDIT FACILITY”, “THE REIMBURSEMENT AGREEMENT”, “THE NOTES–Book-Entry Only System”, “LEGAL MATTERS”, “UNDERWRITING OF THE NOTES” and in APPENDIX A–KEYBANK NATIONAL
ASSOCIATION”, the Offering Circular does not and will not contain any untrue or misleading statement of a material fact or omit to state any material fact necessary to make the statements therein, in light of the circumstances under which they
are made, not misleading; provided, however, that this representation is made solely for the benefit of the parties to this Note Purchase Agreement and their successors and assigns and is not made for and shall not confer any rights, remedies or
benefits upon any third parties including any purchasers of the Notes. 
  
 (h) The Issuer will furnish such information, execute such instruments, and cooperate with the Underwriter as the Underwriter may request in order for the Underwriter to qualify the Notes, or perfect an exemption from registration, for
offer and sale of the Notes under the Blue Sky or other securities laws and regulations of such states and other jurisdictions of the United States as the Underwriter may designate and the Issuer will use its best effort to continue such exemption
or qualification in effect so long as required for distribution of the Notes; 

  

 4 

 
provided however, that the Issuer shall not be required to execute a general or special consent to service of process or to qualify to do business in
connection with such exemption or qualification. 
  
 (i) Any
certificate signed by any officer of the Issuer and delivered to the Issuer’s Counsel, the Underwriter or the Bank at or before the Closing Date shall be deemed a representation and warranty by the Issuer to Bond, Schoeneck & King,
PLLC, as Issuer’s Counsel, the Underwriter, Underwriter’s Counsel (as defined hereinbelow) and the Bank as to the truth of the statements therein contained. 
  
 4. Covenants of the Issuer. The Issuer covenants as follows: 
  
 (a) At all times subsequent to the acceptance hereof by the Underwriter,
including the Closing Date, the Offering Circular (not including the sections excepted in Section 3(g) hereof) will not contain any untrue statement of a material fact or omit to state a material fact necessary in order to make the statements
therein, in the light of the circumstances under which they shall have been made, not misleading. The Issuer agrees to provide the Underwriter, in such quantities as may be requested by the Underwriter, the Offering Circular not later than the
Closing Date. 
  
 (b) The Issuer will take such action as may be
requested to facilitate the timely consummation of the transactions contemplated by this Note Purchase Agreement. 
  
 (c) The Issuer will notify the Underwriter and the Bank of any material adverse change in the business, properties or financial condition of the Issuer
occurring before the Closing Date. 
  
 (d) Prior to or at the
Closing, the Issuer will have duly authorized, executed and delivered the Issuer Documents. 
  
 (e) At all times subsequent to the acceptance hereof by the Underwriter to and including the Closing Date, the Issuer will not take any action which would cause any representation or warranty made by it herein to be
untrue in any material respects as of the Closing Date. 
  
 5.
Conditions to the Obligations of the Underwriter. The obligation of the Underwriter to purchase the Notes on the Closing Date shall be subject, at the option of the Underwriter, to the accuracy in all material respects of the representations
and warranties on the part of the Issuer contained herein as of the date hereof and as of the Closing Date, to the accuracy in all material respects of the statements of the Issuer and the Bank made in any certificates or other documents furnished
pursuant to the provisions hereof, to the performance by the Issuer of its obligations to be performed hereunder at or prior to the Closing Date and to the following additional conditions: 
  
 (a) At the Closing Date, the Issuer Documents, all other Bank Credit
Documents and the Letter of Credit shall have been duly authorized, executed and delivered by the respective parties thereto, and the Offering Circular shall have been delivered to the Underwriter, and none of the foregoing agreements shall have
been amended, modified or 

  

 5 

 
supplemented so as to materially affect the content thereof, except as may have been agreed to in writing by the Underwriter, and there shall have been taken
in connection therewith, with the issuance of the Notes, and with the transactions contemplated thereby and by this Note Purchase Agreement, all such actions as Calfee, Halter & Griswold LLP, counsel to the Underwriter
(“Underwriter’s Counsel”), shall deem to be necessary and appropriate. 
  
 (b) At the Closing Date, the Offering Circular shall not have been amended, modified or supplemented, except as may have been agreed to in writing by the Underwriter. 
  
 (c) At or prior to the Closing Date, no event shall have occurred or
information become known which, in the judgment of the Underwriter, makes untrue in any material respect any statement or information contained in the Offering Circular or has the effect that the Offering Circular contains any untrue statement of a
material fact or omits to state a material fact required to be stated therein or necessary to make the statements therein, in the light of the circumstances under which they were made, not misleading. 
  
 (d) At or prior to the Closing Date, the Underwriter shall have received an
original copy or copies of the following documents, in each case satisfactory in form and substance to the Underwriter and in each applicable case conforming in all material respects with any description thereof contained in the Offering Circular:

  
 (i) The Issuer Documents, the Letter of
Credit and the other Bank Credit Documents, each duly executed and delivered by the respective parties thereto, with such amendments, modifications or supplements as may have been agreed to in writing by the Underwriter; 
  
 (ii) The opinion of Bond, Schoeneck & King, PLLC,
counsel to the Issuer, dated the Closing Date, satisfactory to the Underwriter and Underwriter’s Counsel; 
  
 (iii) The enforceability opinion of Calfee, Halter & Griswold LLP, special co-counsel to the Bank, dated the Closing Date,
satisfactory to the Underwriter and the Underwriter’s Counsel; 
  
 (iv) The securities opinion of Calfee, Halter & Griswold LLP, Underwriter’s Counsel, dated the Closing Date, satisfactory to the Underwriter; 
  
 (v) The opinion of Lemery, Greisler, LLC, Esq., counsel to
the Bank, dated the Closing Date, to the effect that the description of the Reimbursement Agreement in the Offering Circular is an accurate summary of that document; 
  
 (vi) Certificates, dated the Closing Date, signed by duly authorized officers of the Bank, satisfactory to
the Underwriter and the Underwriter’s Counsel; 
  
 (vii) A certificate, dated the Closing Date, signed by a duly authorized officer of the Issuer, satisfactory to the Underwriter and the Underwriter’s Counsel, to the effect that the representations and warranties of the Issuer set
forth in Section 3 hereof are true, correct and complete on the date of such certificate; and 
  

 6 

 (viii) Such additional legal opinions, certificates, proceedings, instruments and other
documents as the Underwriter or the Underwriter’s Counsel may request to evidence compliance by the Bank, the Trustee or the Issuer with legal requirements of closing, and to certify the truth and accuracy, as of the Closing Date, of the
representations of the Issuer contained herein and the due performance or satisfaction by the Bank, the Trustee and the Issuer at or prior to such time of all agreements then to be performed and all conditions then to be satisfied by each of them.

  
 (e) Between the date hereof and the Closing Date, legislation
shall not have been enacted by the Congress or be actively considered for enactment by Congress, or recommended to the Congress for enactment by the President of the United States, or introduced or favorably reported for passage to either house of
the Congress, and neither a decision, order or decree of a court of competent jurisdiction, nor an order, ruling, regulation or official statement of or on behalf of the Securities and Exchange Commission shall have been rendered or made, with the
purpose or effect that the issuance, offering or sale of the Notes or any related security or obligations of the general character of the Notes or any related security as contemplated hereby, or the execution and delivery of the Indenture, is or
would be in violation of any provision of, or is or would be subject to registration or qualification requirements under, the Securities Act or the Trust Indenture Act. 
  

 (f) Between the date hereof and the Closing Date, there shall not have occurred any action by the Comptroller of the Currency, the Federal
Reserve Board, the Federal Deposit Insurance Corporation, or any governmental agency or court which calls into question the validity or enforceability of the Letter of Credit. 
  
 (g) No event shall have occurred or fact exist which makes untrue, incorrect or inaccurate, in any material respect as of
the time the same purports to speak, any statement or information contained in the Offering Circular, or which is not reflected in the Offering Circular but should be reflected therein as of the time and for the purpose for which the Offering
Circular is to be used in order to make the statements and information contained therein not misleading in any material respect as of such time. 
  
 (h) None of the following shall have occurred: (i) additional material restriction not in force as of the date hereof shall have been imposed upon
trading in securities generally by any governmental authority or by any national securities exchange or such trading shall have been suspended; (ii) the New York Stock Exchange or other national securities exchange, or the National Association
of Securities Dealers, Inc. or other national securities association, or other similar national self-regulatory rule-making board, or any governmental authority, shall impose, as to the Notes or similar obligations, any material restrictions not now
in force, or increase materially those now in force, with respect to the extension of credit by, or change in the net capital requirements of, underwriters; (iii) a general banking moratorium shall have been declared by federal, New York or
Ohio authorities; or (iv) a war involving the United States of America, whether or not declared, or any other national or international calamity or 

  

 7 

 
crisis, or a financial crisis, shall have occurred, the effect of which, in the judgment of the Underwriter, would make it impracticable to market the Notes
or would materially and adversely affect the ability of the Underwriter to enforce contracts for the sale of the Notes. 
  
 (i) All matters relating to this Note Purchase Agreement, the Offering Circular, the Issuer Documents, the other Bank Credit Documents, the Letter of
Credit and the consummation of the transactions contemplated by this Note Purchase Agreement and the Offering Circular, shall be satisfactory to and subject to the approval of the Underwriter. 
  
 If the conditions to the Underwriter’s obligations contained in this
Note Purchase Agreement are not satisfied or if the Underwriter’s obligations shall be terminated for any reason permitted herein, this Note Purchase Agreement shall, at the option of the Underwriter, terminate and neither the Underwriter nor
the Issuer shall have any further obligations hereunder, except as provided in Section 7 with respect to the payment of certain expenses. 
  
 6. Survival of Representations, Warranties, Covenants, Agreements and Indemnities. All representations, warranties, covenants, agreements and
indemnities contained in this Note Purchase Agreement, or contained in the certificates of members, officials, partners or officers of the Issuer submitted pursuant hereto, shall remain operative and in full force and effect, regardless of any
investigation by or on behalf of the Underwriter or any person controlling the Underwriter, and shall survive delivery of the Notes to the Underwriter and payment therefor by the Underwriter. 
  
 7. Expenses. All costs and expenses incident to the performance of the
Underwriter’s and the Issuer’s obligations in connection with the authorization, issuance and sale of the Notes shall be paid by the Issuer, including without limitation the costs for preparing, negotiating and reproducing the Issuer
Documents and the other Bank Credit Documents (if any), fees and expenses of the Bank, including fees and expenses of its counsel, fees and expenses of the Trustee, fees and expenses of Note Counsel and all expenses of underwriting the Notes,
including without limitation fees and expenses of the Underwriter and the Underwriter’s Counsel. All such costs and expenses shall be paid by the Issuer whether or not the Notes are actually issued and sold. To the extent statements for such
costs and expenses are available on the Closing Date, the Issuer shall pay such costs and expenses on the Closing Date. 
  
 8. Indemnification. 
  
 (a) General. The Underwriter and the Issuer (each, an “Indemnifying Party”) each covenants and agrees to indemnify the other party hereto
and their respective directors, officers, members, partners, trustees, representatives and employees and each person, if any, who controls any of such persons within the meaning of Section 15 of the Securities Act (collectively, the
“Indemnified Parties”) for, and to hold each Indemnified Party harmless against, all liabilities, claims, costs, losses and expenses (including without limitation, to the extent permitted by law, attorneys’ fees and expenses), imposed
upon or asserted against the Indemnified Parties: 
  

 8 

 (i) Under any statute or regulation, at law, in equity or otherwise, insofar as those
liabilities, claims, costs, losses and expenses arise out of or are based upon any untrue statement or alleged untrue statement of a material fact with reference to the information referred to in Section 8(c) hereof contained in the Offering
Circular, or any amendment thereof or supplement thereto, or any other sales material used by the Underwriter (provided that the Indemnifying Party shall have approved in writing the use of such material), or which arise out of or are based upon any
omission or alleged omission to state therein with reference to such information a material fact which is required to be stated therein or which is necessary to make the statements made therein, in light of the circumstances under which they were
made, not misleading; 
  
 (ii) Pursuant to any
action, claim or proceeding brought in connection with any of the foregoing; and 
  
 (iii) To the extent of the aggregate amount paid in settlement of any actions, claims or proceedings, commenced or threatened, based upon
any untrue statement, alleged untrue statement, omission or alleged omission described above, if the settlement is effected with the written consent of the Indemnifying Party; 
  
 and (unless the Indemnifying Party assumes the defense of the applicable claim, suit, action or proceeding pursuant to paragraph
(b) below) shall reimburse any legal or other expenses incurred by any Indemnified Party in connection with investigating and defending any liability, claim, cost, loss, expense, action or proceeding described above; provided, nothing herein
shall require the Indemnifying Party to pay for any losses, claims, damages, liabilities or expenses resulting from the negligence or the willful misconduct of an Indemnified Party. At the request and the expense of the Indemnifying Party, each
Indemnified Party shall cooperate in making any investigation and defense of any action, claim or proceeding and shall assert appropriately the rights, privileges and defenses which are available to the Indemnified Party in connection therewith.

  
 (b) Procedure. The Indemnified Party shall, in the
event of any claim, suit, action or proceeding against it in respect of which indemnity may be sought on account of any indemnity agreement by the Indemnifying Parties contained herein, promptly give written notice thereof to the appropriate
Indemnifying Parties. When such notice is given, the Indemnifying Party shall be entitled to participate at its own expense in the defense of, or if it so elects, to assume the defense of, such claim, suit, action or proceeding, in which event such
defense shall be conducted by counsel chosen by the Indemnifying Party, but if the Indemnifying Party shall elect not to assume such defense, it shall reimburse such Indemnified Party or Parties for the fees and expenses of any counsel retained by
them. The foregoing notwithstanding, in the event that the Indemnifying Party shall assume such defense and any Indemnified Party or Parties shall be advised by independent legal counsel that counsel selected by the Indemnifying Party is not fully
and adequately protecting such party or parties and representing the interests of such party or parties, any such Indemnified Party or Parties shall have the right to conduct its or their own defense against any such claim, suit, action or
proceeding in addition to or in lieu of any defense conducted by the Indemnifying Party, and the Indemnifying Party shall indemnify and hold harmless such Indemnified Party or Parties against and from any and all suits, claims, damages, liabilities
or expenses whatsoever (including fees and expenses of counsel selected by such 

  

 9 

 
Indemnified Party or Parties) incurred by and arising out of or in connection with any such claim, suit, action or proceeding. An Indemnifying Party shall
not be liable for the settlement of any claim, suit, action or proceeding effected without its consent, which consent shall not be withheld unreasonably. 
  
 (c) Indemnified Information. The information as to which each Indemnifying Party hereto indemnifies the Indemnified Parties is as follows:

  
 (i) The Issuer as Indemnifying Party: the
entire Offering Circular, with the exception of: the information on the cover page (except to the extent pertaining to the Issuer, the Project, or the use of proceeds) and in the sections captioned “INTRODUCTORY STATEMENT” (except to the
extent pertaining to the Issuer, the Project or the use of Note Proceeds), “THE LETTER OF CREDIT BANK”, “THE CREDIT FACILITY”, “THE REIMBURSEMENT AGREEMENT”, “THE NOTES–Book-Entry Only System”, and
“LEGAL MATTERS”, APPENDIX A–KEYBANK NATIONAL ASSOCIATION’ and the information set forth in (ii) below; and 
  
 (ii) The Underwriter as Indemnifying Party: information in the section of the Offering Circular captioned “UNDERWRITING OF THE
NOTES.” 
  
 9. Parties in Interest. This Note Purchase
Agreement is made solely for the benefit of the Underwriter, the Issuer and their respective successors and assigns, and the Indemnified Parties, and no other person, partnership, limited liability company, association, corporation or other legal
entity shall acquire or have any rights under or by virtue of this Note Purchase Agreement. Nothing contained in this Note Purchase Agreement, express or implied, is intended or shall be construed to confer upon or give to any person, firm,
corporation or other legal entity including any purchaser of the Notes, other than a party hereto or its successors and assigns, any rights, remedies or other benefits under or by reason of this Note Purchase Agreement, all third party rights being
hereby negated. 
  
 10. Notices. Any notice or other
communication to be given to any party to this Note Purchase Agreement may be given by delivering the same in writing at the respective addresses set forth below: 
  

			
	Issuer:	  	AngioDynamics, Inc.
		  	603 Queensbury Avenue
		  	Queensbury, New York 12804
		  	Attention: Eamonn P. Hobbs and Joseph G. Gerardi

  

			
	Underwriter:	  	KeyBanc Capital Markets
		  	a division of McDonald Investments Inc.
		  	127 Public Square–4th Floor
		  	Mail Code: OH-01-27-0427
		  	Cleveland, Ohio 44114
		  	Attn: Mr. Jeffrey S. Freese

  

 10 

 11. Severability. If any provisions of this Note Purchase Agreement shall be held or deemed to be
or shall, in fact, be inoperative, invalid or unenforceable as applied in any particular case in any jurisdiction or jurisdictions or in all jurisdictions because it conflicts with any provisions of any constitution, statute, rule or public policy,
or any other reason, such circumstance shall not have the effect of rendering the provision in question inoperative or unenforceable in any other case or circumstance, or of rendering any other provision or provisions of this Note Purchase Agreement
invalid, inoperative or unenforceable to any extent whatever. 
  
 12. Good Faith. Each party to this Note Purchase Agreement shall be obligated to act in good faith in the performance and enforcement of its obligations and rights hereunder, and shall have an obligation to deal fairly with the other
party with respect to all matters pertaining hereto, expressed herein or otherwise, having due regard for all relevant facts and circumstances. 
  
 13. Applicable Law. This Note Purchase Agreement shall be governed by and construed in accordance with the laws of the State of New York.

  
 14. Counterparts. This Note Purchase Agreement may be
executed in several counterparts, each of which shall be an original and all of which shall constitute but one and the same instrument. 
  
 [Balance of Page Intentionally Left Blank] 
  

 11 

 IN WITNESS WHEREOF, the Issuer and the Underwriter have caused this Note Purchase Agreement to be duly
executed by their duly authorized representatives, respectively, as of the date first above written. 
  

			
	ANGIODYNAMICS, INC.
		
	By:	 	/S/    ROBERT D. MITCHELL        

		 	 Robert D. Mitchell
 Vice President and Chief Operating Officer

	
	 KEYBANC CAPITAL MARKETS, a division of McDonald Investments Inc.

		
	By:	 	/S/    JEFFREY S. FREESE        

		 	Jeffrey S. Freese, Managing Director

  

 12

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