Document:

Exhibit 4(e)

 

PROTECTIVE LIFE AND ANNUITY INSURANCE COMPANY
 •  {P. O. BOX 10648  •  BIRMINGHAM, 
ALABAMA  35202-0648}

 

NET AMOUNT AT RISK FEE ENDORSEMENT

FOR

VARIABLE ANNUITY DEATH BENEFIT RIDERS

 

We are adding the following
provisions to the Variable Annuity Death Benefit Rider attached to your
Contract:

 

Benefit
Cost - The cost for the death benefit is based on its
Net Amount at Risk. Net Amount at Risk is defined as the amount by which the
death benefit exceeds the Contract Value.

 

Monthly
Fee - Once each month beginning with the 13th
month after the Effective Date and continuing as long as the Variable Annuity
Death Benefit Rider is in force, we will calculate the fee for the death
benefit and deduct that amount from the Contract Value. The monthly fee is
calculated as of the end of the Valuation Period that includes the same day of
the month as the Effective Date, or the last Valuation Period of the month if
that date does not occur during the month for which the fee is being calculated.
The fee is deducted from the Contract Value as of the next Valuation Period.

 

Calculating
the Monthly Fee - We calculate the monthly fee by
first dividing the Net Amount at Risk by 1000, and multiplying that number by a
NAR factor that is based on the oldest Owner’s Age and gender as shown in the
table on the following page.

 

Monthly Fee  =  NAR/1000 x ƒ 
, where

 

NAR  =  is
the Net Amount at Risk as of the calculation date; and

ƒ   =  is the Net Amount at Risk factor.

 

The monthly fee will vary as a
result of fluctuations in the value of the death benefit and Contract Value, as
well as Age based increases in the Net Amount at Risk factor. The monthly fee
will be $0 anytime the death benefit equals the Contract Value as of the
Valuation Period during which the monthly fee is calculated.

 

Deducting
the Monthly Fee - We will deduct the monthly fee as of
the Valuation Period immediately following the Valuation Period during which it
was calculated. The monthly fee will be deducted pro rata from the Allocation
Options in the same proportion that the value of the Allocation Option bears to
the total Contract Value.

 

Signed for the Company and made
a part of the Contract as of the Effective Date.

 

PROTECTIVE LIFE AND ANNUITY INSURANCE
COMPANY

 

	
  

  	
   

  	
   

  
	
            {
  Secretary }

  	
   

  	
   

  

 

1Exhibit 4(f)

 

PROTECTIVE LIFE AND ANNUITY INSURANCE COMPANY
 •  {P. O. BOX 10648  •  BIRMINGHAM, 
ALABAMA  35202-0648}

 

ANNUITIZATION BONUS ENDORSEMENT

 

We are amending the Contract to
which this endorsement is attached as described below:

 

1.     The
following statement is added to your Contract:

 

Bonus - This Contract provides a Bonus. The Bonus will be credited by
us in a nondiscriminatory manner and consistent with New York law.

 

2.     The
following provision is added to the “ANNUITIZATION”
section of your Contract:

 

Annuitization Bonus - If the Annuity
Commencement Date is on or after the { Nth } Contract Anniversary, and if you select Annuity Option B
with a certain period of not less than { X } years, we will add an annuitization bonus to the amount we
apply to the Annuity Option. The annuitization bonus will equal { Z% } of the
Contract Value to be applied to the Annuity Option and will be calculated as of
the Valuation Period that contains the Annuity Commencement Date.

 

3.               The
last sentence of the provision entitled “Guaranteed Purchase Rates”
in the “ANNUITIZATION” section of your
Contract is deleted and replaced by the sentence below:

 

Annuity
benefits available on the Annuity Commencement Date will not be less than those
provided by the application of an equivalent amount (including the effect of
any annuitization bonus) to the purchase of a single premium immediate annuity
contract offered by us on the Annuity Commencement Date to the same class of
Annuitants for the same Annuity Option.

 

Signed for the Company and made
a part of the Contract as of the Effective Date.

 

PROTECTIVE LIFE AND ANNUITY INSURANCE
COMPANY

 

	
  

  	
   

  	
   

  
	
            {Secretary}Exhibit 4(g)

 

PROTECTIVE LIFE AND ANNUITY INSURANCE COMPANY
 •  {P. O. BOX 10648  •  BIRMINGHAM, 
ALABAMA  35202-0648}

 

BENEFIT BASED FEE ENDORSEMENT

FOR

VARIABLE ANNUITY DEATH BENEFIT RIDERS

 

We are adding the following
provisions to the Variable Annuity Death Benefit Rider attached to your
Contract:

 

Benefit
Cost - The cost for the death benefit is equal, on an
annualized basis, to { 0.10% } of the average death benefit value on the Valuation Days
described in the next paragraph.

 

Monthly
Fee - Once each month while the Variable Annuity Death
Benefit Rider is in force, we will calculate the fee for the death benefit and
deduct that amount from the Contract Value. The monthly fee is calculated as of
the end of the Valuation Period that includes the same day of the month as the
Effective Date, or the last Valuation Period of the month if that date does not
occur during the month for which the fee is being calculated. The fee is
deducted from the Contract Value as of the next Valuation Period.

 

Calculating
the Monthly Fee - We calculate the monthly fee using
the formula below:

 

Monthly Fee  =  [ 1 – ( 1 – {
0.10% } )1/12] x  DBV , where

 

DBV  =  is
the value of the death benefit as of the calculation date.

 

Deducting
the Monthly Fee - We will deduct the monthly fee as of
the Valuation Period immediately following the Valuation Period for which it
was calculated. The monthly fee will be deducted pro rata from the Allocation
Options in the same proportion that the value of the Allocation Option bears to
the total Contract Value.

 

Signed for the Company and made
a part of the Contract as of the Effective Date.

 

PROTECTIVE LIFE AND ANNUITY INSURANCE
COMPANY

 

	
  

  	
   

  	
   

  
	
           {
  Secretary }Exhibit 4(h)

 

PROTECTIVE LIFE AND ANNUITY
INSURANCE COMPANY   •   P. O. BOX 10648   •  
BIRMINGHAM,  ALABAMA  35202-0648

 

TRADITIONAL INDIVIDUAL RETIREMENT ANNUITY (IRA) ENDORSEMENT

FOR ANNUITY CONTRACTS

 

The Contract to which this Individual
Retirement Annuity Endorsement is attached is issued as an individual
retirement annuity under Section 408(b) of the Internal Revenue Code of 1986,
as amended (the “Code”). Accordingly, the applicable provisions of the Contract
are restricted or amended by this Endorsement as required by Code Section 408.

 

The Contract is amended as
follows:

 

1.      OWNER AND ANNUITANT

 

The
Annuitant must be an individual who is the sole Owner, and all payments made
from the Contract while the Annuitant is alive must be made to the Annuitant. Except
as permitted under Section 8 of this Endorsement, and otherwise permitted under
the Code and applicable regulations, neither the Owner nor the Annuitant can be
changed.

 

2.      NONTRANSFERABLE AND NONFORFEITABLE

 

The Contract is established for the exclusive
benefit of the Owner and his or her beneficiaries. The Owner’s interest under
the Contract is nontransferable, and except as provided by law, is non-forfeitable.
In particular, the Contract may not be sold, assigned, discounted or pledged as
collateral for a loan or as security for the performance of any obligation or
for any other purpose, to any person other than the Company (other than a
transfer incident to a divorce or separation instrument in accordance with Code
Section 408(d)(6)).

 

3.      UNISEX RATES

 

If the Contract is issued in connection
with a Simplified Employee Pension, the method of calculating Purchase Payments
and benefits under the Contract are to be based on unisex rates, and any
references to sex (with regard to rates and benefits) in the Contract are
deleted.

 

4.      PURCHASE PAYMENTS

 

Purchase
Payments may not include any amounts other than a rollover contribution (as
permitted by Code Sections 402(c), 402(e)(6), 403(a)(4), 403(b)(8), 403(b)(10),
408(d)(3) and 457(e)(16)), a nontaxable transfer from an Individual Retirement
Account under Code Section 408(a) or another Individual Retirement Annuity
under Code Section 408(b), a contribution made in accordance with the terms of
a Simplified Employee Pension as described in Code Section 408(k), and a
contribution in cash not to exceed the amount permitted under Code Sections
219(b) and 408(b), (or such other amount provided by applicable federal tax
law). In particular, unless otherwise provided under applicable federal tax law
or limited by the provisions of the Contract:

 

A.                The total cash contributions shall not
exceed $3,000 for any taxable year
beginning in 2002 through 2004, $4,000 for any taxable year beginning in 2005
through 2007, and $5,000 for any taxable year beginning in 2008 and years
thereafter. After 2008, the limit will be adjusted by the Secretary of the
Treasury for cost-of-living increases under Code Section 219(b)(5)(C). Such
adjustments will be in multiples of $500.

 

B.                  In the case of an
individual who is 50 or older, the annual cash contribution limit is increased
by $500 for any taxable year beginning in 2002 through 2005, and $1,000 for any
taxable year beginning in 2006 and years thereafter.

 

1

 

No contribution will be accepted under a
SIMPLE IRA plan established by any employer pursuant to Code Section 408(p). No
transfer or rollover of funds attributable to contributions made by a
particular employer under its SIMPLE IRA plan will be accepted from a SIMPLE
IRA, that is, an Individual Retirement Account under Code Section 408(a) or an
Individual Retirement Annuity under Code Section 408(b) used in conjunction
with a SIMPLE IRA plan, prior to the expiration of the 2-year period beginning
on the date the Owner first participated in that employer’s SIMPLE IRA plan.

 

5.      REQUIRED DISTRIBUTIONS GENERALLY

 

Notwithstanding
any provision of the Contract to the contrary, the distribution of the Owner’s
interest in the Contract shall be made in accordance with the requirements of
Code Sections 401(a)(9) and 408(b)(3) and the regulations thereunder, the
provisions of which are herein incorporated by reference. If distributions are
not made in the form of an annuity on an irrevocable basis (except for
acceleration), then distribution of the interest in the Contract (as determined
under Section 8.C. of this Endorsement) must satisfy the requirements of Code
Section 408(a)(6) and the
regulations thereunder, rather than Sections 7 and 8 of this Endorsement.

 

6.      REQUIRED BEGINNING DATE

 

As used in this Endorsement, the term “Required
Beginning Date” means April 1 of the calendar year following the calendar year
in which the participant attains age 701⁄2, or such later date as provided by
law.

 

7.                   DISTRIBUTIONS
DURING OWNER’S LIFE

 

A.                Unless
otherwise permitted under applicable law, the Owner’s entire interest in the
Contract will commence to be distributed no later than the Required Beginning
Date over:

 

(i)      the life of the Owner, or
the lives of the Owner and his or her designated beneficiary (within the
meaning of Code Section 401(a)(9)), or

 

(ii)     a period certain not
extending beyond the life expectancy of the Owner, or the joint and last
survivor expectancy of the Owner and his or her designated beneficiary.

 

Payments must
be made in periodic payments at intervals of no longer than one year. Unless
otherwise provided by applicable federal tax law, payments must be either non-increasing
or they may increase only as provided in
Q&As-1 and -4 of Section 1.401(a)(9)-6 of the Income Tax Regulations, and
any distribution must satisfy the incidental benefit requirements specified in
Q&A-2 of Section 1.401(a)(9)-6 of the Income Tax Regulations.

 

The
distribution periods described in this subsection A cannot exceed the periods
specified in Section 1.401(a)(9)-6 of the Income Tax Regulations (except as
otherwise provided by applicable federal tax law).

 

B.                                     If
the Owner’s interest is to be distributed over a period greater than one year,
the amount to be distributed by December 31 of each year (including the year in
which the Required Beginning Date occurs) will be made in accordance with the
requirements of Code Section 401(a)(9) and the regulations thereunder. If
annuity payments commence on or before the Required Beginning Date, the first required payment can be made as late as
the Required Beginning Date and must be the payment that is required for one
payment interval. The second payment need not be made until the end of the next
payment interval.

 

2

 

8.                   DISTRIBUTIONS
AFTER DEATH OF THE OWNER

 

A.     If the Owner dies on or after
required distributions commence, the remaining portion of his or her interest
in the Contract, if any, will be distributed at least as rapidly as under the
annuity option chosen.

 

B.      If the Owner dies before
required distributions commence, his or her entire interest in the Contract
will be distributed at least as rapidly as follows:

 

(i)                 If the designated beneficiary is someone
other than the Owner’s surviving spouse, the entire interest will be
distributed, starting by the end of the calendar year following the calendar
year of the Owner’s death, over the remaining life expectancy of the designated
beneficiary, with such life expectancy determined using the age of the
beneficiary as of his or her birthday in the year following the year of the
individual’s death, or, if elected, in accordance with paragraph B(iii) below.

 

(ii)              If the Owner’s sole designated
beneficiary is the Owner’s surviving spouse, the entire interest will be
distributed, starting by the end of the calendar year following the calendar
year of the Owner’s death (or by the end of the calendar year in which the
Owner would have attained age 701⁄2, if later), over the surviving spouse’s life,
or, if elected, in accordance with paragraph B(iii) below. If the surviving
spouse dies before required distributions commence to him or her, the remaining
interest will be distributed, starting by the end of the calendar year
following the calendar year of the spouse’s death, over the spouse’s designated
beneficiary’s remaining life expectancy determined using such beneficiary’s age
as of his or her birthday in the year following the death of the spouse, or, if
elected, will be distributed in accordance with paragraph B(iii) below. If the
surviving spouse dies after required distributions commence to him or her, any
remaining interest will be distributed at least as rapidly as under the annuity
option chosen.

 

(iii)           If there is no designated beneficiary, or
if applicable by operation of paragraph B(i) or B(ii) above, the entire
interest will be distributed by the end of the calendar year containing the
fifth anniversary of the individual’s death (or of the spouse’s death in the
case of the surviving spouse’s death before distributions are required to begin
under paragraph B(ii) above).

 

(iv)          Life expectancy is determined using the
Single Life Table in Q&A-1 of Section 1.401(a)(9)-9 of the Income Tax
Regulations. If distributions are being made to a surviving spouse as the sole
designated beneficiary, such spouse’s remaining life expectancy for a year is
the number in the Single Life Table corresponding to such spouse’s age in the
year. In all other cases, remaining life expectancy for a year is the number in
the Single Life Table corresponding to the beneficiary’s age in the year
specified in paragraph B(i) or (ii) and reduced by 1 for each subsequent year.

 

C.                  The “interest” in the Contract includes
the amount of any outstanding rollover, transfer and recharacterization under
Q&As-7 and -8 of Section 1.408-8 of the Income Tax Regulations. Also,
prior to the date that annuity payments commence on an irrevocable basis
(except for acceleration) the “interest” in the Contract includes

 

3

 

the actuarial value of any other benefits
provided under the Contract, such as guaranteed death benefits.

 

D.                 For purposes of subsections A and B
above, required distributions are considered to commence on the Required
Beginning Date or, if applicable, on the date distributions are required to
begin to the surviving spouse under paragraph B(ii) above. However, if
distributions start prior to the applicable date in the preceding sentence on
an irrevocable basis (except for acceleration) in accordance with the requirements
of Section 1.401(a)(9)-6 of the Income Tax Regulations, then required
distributions are considered to commence on the annuity starting date.

 

E.                   If the sole designated beneficiary is the
Owner’s surviving spouse, the surviving spouse may elect to treat the Contract
as his or her own IRA. This election will be deemed to have been made if such
surviving spouse makes a contribution to the Contract or fails to take required
distributions as a beneficiary.

 

9.      ANNUITY OPTIONS

 

All annuity options under the Contract
must meet the requirements of Code Sections 401(a)(9) and 408(b)(3). The
provisions of this Endorsement reflecting the requirements of these Code
Sections override any annuity option that is inconsistent with such
requirements.

 

If guaranteed payments are to be made
under the Contract, the period over which the guaranteed payments are to be
made must not exceed the period permitted under Section 1.401(a)(9)-6 of the
Income Tax Regulations (except as otherwise provided by applicable federal tax
law).

 

10.    ANNUAL REPORTS

 

The Company will furnish annual calendar
year reports concerning the status of this Contract and such information
concerning required minimum distributions as is prescribed by the Commissioner
of the Internal Revenue Service.

 

11.            CODE SECTION 72(s)

 

All references in the Contract to Code
Section 72(s) are deleted.

 

12.    AMENDMENT OF THIS ENDORSEMENT

 

The Company reserves the right, and the
Owner agrees the Company shall have such right, to make any amendments to this
Endorsement from time to time as may be necessary to comply with the Code, as
amended, and the regulations thereunder. We will obtain all necessary approvals
including, where required, that of the Owner and will send you a copy of the
endorsement that modifies your Contract. We will not be responsible for any
adverse tax consequences resulting from the rejection of such an amendment.

 

Signed for the Company as of
the Effective Date.

 

Protective Life and Annuity Insurance
Company

	
   

  	
  

  	
   

  
	
   

  	
  Deborah J.
  Long

  	
   

  
	
   

  	
        Secretary

  	
   

  

 

4

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00134-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00134-of-00352.parquet"}], [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00134-of-00352.parquet"}], [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00134-of-00352.parquet"}]]