Document:

EX-4(X)

 

Exhibit 4(x)

EMPLOYER PLAN

ENDORSEMENT

Your Certificate of Participation under the annuity contract (your “Certificate”) is changed as set
out below to adapt it for use with an employee benefit plan:

PLAN. “Plan” means the employee benefit plan named on your application or any successor plan.

EMPLOYER. “Employer” means the employer sponsoring the Plan and named on your application, or
any other employer which succeeds to its rights under the Plan.

PLAN ADMINISTRATOR. “Plan Administrator” means the person designated as such to us in writing
by the Employer. If no person has been designated, “Plan Administrator” means the Employer.

PLAN INTERPRETATION. For purposes of the annuity contract, the Plan Administrator shall
interpret the Plan and decide all questions about what is allowed or required by the Plan. We
have no duty to review or interpret the Plan, or to review or approve any decision of the Plan
Administrator. We are entitled to rely on the written directions of the Plan Administrator on
such matters.

APPLICABLE RESTRICTIONS. The annuity contract may be restricted by federal and/or state laws
related to employee benefit plans. We may change the terms of the annuity contract and your
Certificate, or administer the annuity contract and your interest in it, at any time as needed
to comply with such laws.

PLAN DISTRIBUTION PROVISIONS. Distributions of your interest allowed under the annuity contract
and your Certificate may be made only at a time allowed by the Plan or required by the annuity
contract. The form of any distribution of shall be determined under the Plan from among those
forms of distribution available under the annuity contract. No distribution of your interest
may be made without the written direction of the Plan Administrator unless required by the
annuity contract. Distributions of your interest may be made without your consent when required
by the Plan.

FORFEITURE OF NON-VESTED AMOUNTS. Any portion of your interest in the annuity contract
attributable to contributions by the Employer (excluding any contributions made under a salary
reduction agreement with your employer) is subject to the vesting provisions of the Plan. If at
any time the Plan provides for a forfeiture of an amount that is not vested, then such amount
may be withdrawn and paid as directed by the Plan Administrator.

RETURN OF EXCESS CONTRIBUTIONS. Contributions made to the annuity contract for you are subject
to any limits on contributions and nondiscrimination provisions of the Plan. If the Plan
Administrator determines that excess or discriminatory contributions were made, then amounts
attributable to such contributions may be withdrawn and paid as directed by the Plan
Administrator.

ENTITLEMENT TO DEATH BENEFITS. The person or persons entitled to any portion of your interest
in the annuity contract remaining payable after your death shall be determined under the Plan.
No distribution of any such amount shall be made without the written direction of the Plan
Administrator.

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INVESTMENT ALLOCATIONS AND TRANSFERS. If the annuity contract provides that amounts held
under it are allocated among separate investment funds or fixed accounts, then any such
allocations and/or subsequent transfers shall be made only as required or allowed by the Plan,
or as required by the annuity contract to secure a loan. No such allocation or transfer shall
be made without the written direction of the Plan Administrator unless required by the annuity
contract to secure a loan. Allocations or transfers with respect to your interest in the
annuity contract may be made without your consent when required by the Plan or the annuity
contract.

PLAN LOAN PROVISIONS. If loans are allowed under the annuity contract, no such loan may be made
unless also allowed by the Plan. Any such loan will be subject to any additional limits and
conditions which apply under the Plan. No loan may be made without the written direction of the
Plan Administrator. The rate of interest to be paid by you on any such loan will be fixed by the
Plan Administrator, but we may require that it be at least three percentage points higher than
the minimum guaranteed rate of interest, if any, that applies to that portion of your interest
in the annuity contract used as security for the loan.

QUALIFIED JOINT AND 50% SURVIVOR ANNUITY OPTION. In addition to the other payment options
available under the annuity contract, payments of your interest may be made in the form of a
Qualified Joint and 50% Survivor Annuity. Under this payment option, we will make equal
payments to you for life at least once per year. If the person who is your spouse at the time
payments commence survives you, then after your death we will make payments to such spouse at
the same intervals equal to one-half of the amount of the prior payments, with such payments
continuing to such spouse until his or her death. The first payment under this payment option
will be made on the effective date of the payment option. The amount of the payments we will
make under this payment option is based on the intervals for payments, which are subject to our
approval. Amounts vary with the ages, as of the first payment date, of you and your spouse. We
will require proof of the ages of you and your spouse. Monthly payments that we will make under
this payment option for each $1,000 of proceeds applied will be furnished at your request. Once
payments begin under this payment option, the value of future payments may not be withdrawn as
a commutation of benefits.

This is a part of your Certificate. It is not a contract. It changes your Certificate only as and
to the extent stated. In all cases of conflict with the other terms of your Certificate, the
provisions of this endorsement shall control.

Signed for us at our office as of the date of issue.

	 	 	 
	
	 	
	Assistant Secretary
	 	Executive Vice President

-2-EX-4(Y)

 

Exhibit 4(y)

Home Office: Cincinnati, Ohio

Variable Administrative Office: P.O. Box 5423, Cincinnati, Ohio 45201-5423

LOAN ENDORSEMENT

The group annuity contract is changed as set out below to permit loans:

Loan Amount and Conditions

So long as he or she has not commenced distribution under a payment option (or any
other systematic payment program), we may allow the participant to borrow an amount
(the “new loan”) not to exceed the contract value loan limit or the tax law loan
limit, whichever is less.

An application for a loan must be made on our form. We may delay granting the loan
for up to six (6) months after we receive the request for it. We may also limit the
frequency at which loans may be made to a participant and the minimum amount of a
loan. We may deny the participant’s request for a new loan if he or she has had any
loan treated as a deemed distribution under Section 72(p) of the Internal Revenue
Code, and that loan has not been repaid in full.

Contract Value Loan Limit

The net amount otherwise payable to the participant upon a full surrender of his or
her interest in this annuity contract must be at least one hundred ten percent
(110%) of, and at least $500 more than, the sum of the new loan and the current
balance of all other loans of the participant, if any, under this annuity contract.

Tax Law Loan Limit

Pursuant to Section 72(p) of the Internal Revenue Code:

	 	1)	 	the sum of the new loan plus the highest balance of all other loans of
the participant, if any, under this annuity contract and all other related
retirement plans at any time during the one (1) year period ending on the date
of the new loan, cannot exceed $50,000; and
	 
	 	2)	 	the sum of the new loan plus the current balance of all other loans of
the participant, if any, under this annuity contract and all other related
retirement plans cannot exceed the greater of (i) $10,000, or (ii) one-half of
the sum of his or her vested benefits under this annuity contact and all other
related retirement plans.

For this purpose, a related retirement plan is a Section 403(b) tax sheltered
annuity, a Section 401 pension, profit-sharing or 401(k) plan, a Section 403(a)
annuity plan, or a governmental plan, to which the same employer has contributed.
We may require the participant to provide information on such other plans and loans.

 

 

Loan Term and Repayment

The principal and interest of each loan must be repaid to us within five (5) years
of the date such loan is made. This five (5) year limit will not apply to a loan of
the participant used to acquire a dwelling unit that is to be used as his or her
principal residence. For a loan used to acquire his or her principal residence, the
principal and interest must be repaid to us within thirty (30) years of the date
such loan is made. Pursuant to Section 72(p) of the Internal Revenue Code, regular
substantially equal periodic payments must be made at least quarterly over the term
of a loan until fully paid. We may limit the minimum amount of the loan payments to
be made to us.

Lien — Loan Offset

A loan of a participant under this annuity contract is a first lien on his or her
interest in this annuity contract. The participant’s interest in this annuity
contract will be the sole security for the loan. The participant cannot surrender
his or her interest in this annuity contract or annuitize it (or begin payments
under any other systematic payment program) unless all loans under it are paid in
full. The participant cannot take a partial withdrawal from his or her interest in
this annuity contract if the current balance of all his or her loans under this
annuity contract would then exceed the contract value loan limit.

We may require the participant to hold the amount needed to secure all loans in his
or her Fixed Accumulation Account. The participant cannot make a withdrawal or
transfer from his or her Fixed Accumulation Account that would reduce it below such
amount. The participant may transfer amounts needed to secure loans from his or her
Subaccounts and Fixed Account guarantee options to his or her Fixed Accumulation
Account. If the participant does not do so, then we may make such transfers on a
pro rata basis.

We may pay off the loan (by treating an amount equal to the balance of the loan as
surrendered, and applying it to pay off the loan) if there is a default in
repayment. Such a surrender to pay off the loan will be taken from the
participant’s Fixed Accumulation Account to the extent possible, and then from the
balance of his or her interest in the contract on a pro rata basis. Such a
surrender to pay off the loan will not occur at a time when the other provisions of
this annuity contract prohibit a distribution to the participant. As required by
federal tax law, we will continue to charge interest on a defaulted loan until it is
paid off in full even if the loan has been treated as a deemed distribution.

If the participant’s spouse becomes the Successor Owner of the participant’s
interest in this annuity contract, the spouse may continue a loan that is not in
default. In all other cases, the death benefit will be reduced to pay off any loan
that is outstanding at the time of the participant’s death.

Interest

The interest rate on a loan will not be more than eight percent (8%) per year,
unless otherwise provided under any other provision of this annuity contract
covering employee benefit plans. Any unpaid interest will be added to the loan; in
effect, then, it will be compounded and will be part of the loan.

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This is part of the group annuity contract. It is not a separate contract. It changes the annuity
contract only as and to the extent stated. In all cases of conflict with the other terms of the
annuity contract, the provisions of this Endorsement shall control.

Signed for us at our office as of the date of issue.

	 	 	 
	
	 	
	MARK F. MUETHING
	 	CHARLES R. SCHEPER
	SECRETARY
	 	PRESIDENT

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