Document:

Forms of Registrant's Policy Contract Riders

Rider attached to and forming a part of Contract
issued by MONY Life Insurance Company of America 
 
The
effective date of this Rider is the date of issue of the Contract. If any provision of this Rider is inconsistent with any provision of the Contract, the Rider provision controls the Rider. 
 

GUARANTEED
MINIMUM INCOME BENEFIT RIDER 
 

 
The Benefit 
 
What is the benefit of this rider? 
This Rider provides a guaranteed minimum value called the “Guaranteed Annuitization Value”. If certain conditions are met, the Guaranteed Annuitization Value may be used to provide lifetime Annuity Payments (income
payments) that are greater than the Annuity Payments that would be provided by the Fund Value described in the Contract. 
 
What does “Annuitization” mean? 
“Annuitization” is the process where value under the Contract is used to provide Annuity Payments. 
 
How is the Guaranteed Annuitization Value calculated? 
The Guaranteed Annuitization Value is the sum of all net Purchase Payments made plus interest accumulated at an annual rate of 5% reduced proportionately for each partial surrender. 
 
Such interest is credited from the date we receive the Purchase Payment to the
contract anniversary immediately prior to the Annuitant’s 81st birthday. 
 
Partial surrenders reflect any Market Value Adjustment, if applicable, and any Surrender Charge (See the Full or Partial Surrenders section of the Contract). 
 
Is there a limit on the Guaranteed Annuitization Value? 
Yes. The Guaranteed Annuitization Value can not exceed 200% of the net Purchase Payments paid, reduced proportionately for any partial surrenders (reflecting any Market Value Adjustment, if applicable,
and any Surrender Charge) and less any Debt due us, if applicable. 
 
How are proportionate reductions determined? 
For each partial surrender, the proportionate reduction is equal to the
amount of that partial surrender divided by the Fund Value immediately before that partial surrender, multiplied by the Guaranteed Annuitization Value immediately before that partial surrender. 
 
What conditions must be met for annuitization using the Guaranteed
Annuitization Value? 
For annuitization using the Guaranteed Annuitization Value the following conditions must be met: 

	1.	 	The Contract must have been in force for at least 7 years. 

	2.	 	The Annuitant must have attained age 60. 

	3.	 	The annuitization must be elected within 30 days after a contract anniversary. 

	4.	 	The Settlement Option chosen must be payable over the lifetime of a single Payee, or joint Payees. 

	5.	 	The entire amount of Guaranteed Annuitization Value must be used for annuitization. 

 
Payment is subject to all provisions and limitations of this Rider and the Contract to which it is attached. 
 
What monthly income rates will be used for annuitization using the
Guaranteed Annuitization Value? 
 
The Guaranteed Annuitization
Value provides Annuity Payments based on the 1983 Annuity Table a with Projection Scale G with 3% interest. 
 
After Annuitization using the Guaranteed Annuitization Value, can I make withdrawals? 
No. Once Annuity Payments provided by the Guaranteed Annuitization Value begin, no withdrawals may be made. 
 
Can I annuitize the Contract at any time? 
Yes. You can annuitize the Contract at any time using the Contract’s Fund Value. 
 

Rider Cost 
 
What is the cost of this Rider? 
The cost of this Rider is a Daily Mortality/Expense
Risk Charge shown in Section 1. The Charge is in addition to the Mortality/Expense Risk Charges otherwise applicable and will not change for the duration of the Contract. 
 

Rider Termination 
 
Can I terminate this Rider? 
No. This Rider can not be terminated and will remain in force for the duration of the Contract. 
 
When will this Rider end? 
This Rider will end on the earliest of: 

	(a)	 	the date of the Owner’s death; 

	(b)	 	the date of the Annuitant’s death; 

	(c)	 	the Annuity Starting Date; 

	(d)	 	the date the Contract is surrendered for its Cash Value. 

 
What does it mean when the Rider ends? 
On and after its end, this rider will have no force. 

Rider attached to and forming a part of Contract
issued by MONY Life Insurance Company of America 
 
The
effective date of this Rider is the date of issue of the Contract. If any provision of this Rider is inconsistent with any provision of the Contract, the Rider provision controls the Rider. 
 

GUARANTEED
MINIMUM DEATH BENEFIT RIDER 
 

 
The Benefit 
 
What is the benefit of this rider? 
This Rider provides an enhanced Guaranteed Minimum Death Benefit called the “Enhanced Death Benefit”. The Enhanced Death Benefit, if greater than the Death Benefit described in the Contract, is payable to the Beneficiary of
the Contract upon the death of the Annuitant (or Secondary Annuitant, if applicable) prior to the Annuity Starting Date. 
 
How is the Enhanced Death Benefit recalculated on each contract anniversary? 
On the first contract anniversary, the Enhanced Death Benefit is equal to the Fund Value of the Contract. Measured from that first anniversary, on each subsequent anniversary that occurs prior to the
Annuitant’s 81st birthday, the Enhanced Death Benefit will be recalculated to equal the greater of: 

	(a)	 	the Fund Value on that contract anniversary; or 

	(b)	 	the current Enhanced Death Benefit: 

	 	(i)	 	reduced proportionately by each partial surrender made since the most recent recalculation anniversary (reflecting any Market Value Adjustment, if applicable, and
any Surrender Charge); 

	 	(ii)	 	plus any net Purchase Payments made since the most recent recalculation anniversary. 

 
What is the amount of the Enhanced Death Benefit upon the death of the Annuitant (or Secondary Annuitant)?

Upon the death of the Annuitant (or Secondary Annuitant) the amount payable will be: 

	(a)	 	the current Enhanced Death Benefit reduced proportionately by each partial surrender made since the most recent recalculation anniversary (reflecting any Market
Value Adjustment, if applicable, and any Surrender Charge) and less any Debt due us, if applicable; plus 

	(b)	 	any net Purchase Payments made since the most recent recalculation anniversary. 

 
Payment is subject to all provisions and limitations of this Rider and the Contract to which it is attached. 
 
Is there a limit on the Enhanced Death Benefit? 
Yes. The Enhanced Death Benefit can not exceed 200% of the total Purchase Payments paid, reduced proportionately for any partial surrenders (reflecting
any Market Value Adjustment, if applicable, and any Surrender Charge) and less any Debt due us, if applicable. 
 
How are proportionate reductions determined? 
For each partial surrender, the
proportionate reduction is equal to the amount of that partial surrender divided by the Fund Value immediately before that partial surrender, multiplied by the Enhanced Death Benefit immediately before that partial surrender. 
 

Rider Cost

 
Is there an additional cost for this Rider deducted from
the Contract? 
Yes. The cost for this rider is a Daily Mortality/Expense Risk Charge shown in Section 1. This Charge is in addition to
the Mortality/Expense Risk charges otherwise applicable and will not change for the duration of the Contract. 
 

Rider Termination 
 
Can I terminate this Rider? 
No. This
Rider can not be terminated and will remain in force for the duration of the Contract. 
 
When will this Rider end? 
This Rider will end on the earliest of: 

	(a)	 	the date of the Owner’s death; 

	(b)	 	the date of the Annuitant’s death; 

	(c)	 	the Annuity Starting Date; 

	(d)	 	the date the Contract is surrendered for its Cash Value. 

 
What does it mean when the rider ends? 
On and after its end, this rider will have no force. 

Rider attached to and forming a part of Contract
issued by MONY Life Insurance Company of America 
 
The
effective date of this Rider is the date of issue of the Contract. If any provision of this Rider is inconsistent with any provision of the Contract, the Rider provision controls the Rider. 
 

EARNINGS
INCREASE DEATH BENEFIT RIDER 
 

 
The Benefit 
 
What is the benefit of this rider? 
 
This Rider provides for an additional death benefit called the “Earnings Increase Amount” that may be added to the Death Benefit otherwise
payable under the contract or other riders. 
 
How is the
Earnings Increase Amount calculated? 
 
The Earnings Increase
Amount is calculated as of the date we receive due proof of death of the Annuitant (or Secondary Annuitant) prior to the Annuity Starting Date. 
 

	 	(i)	 	do not include Purchase Payments made during the 12 month period immediately prior to the date we receive due proof of death; and 

	 	(ii)	 	reflect any partial surrenders made, including any Market Value Adjustment, if applicable, any Surrender Charge and less any Debt due us, if applicable.

 
If the Annuitant was age 69 or younger on the
Contract’s Effective Date, then the Earnings Increase Amount is equal to 40% of the lesser of: (a) net Purchase Payments; or (b) Fund Value minus net Purchase Payments. 
 
If the Annuitant was age 70 or older on the Contract’s Effective Date then, the Earnings Increase Amount is equal to 25%
of the lesser of: (a) net Purchase Payments; or (b) Fund Value minus net Purchase Payments. 
 
What amount is payable upon the death of the Annuitant (or Secondary Annuitant)? 
 
Upon the death of the Annuitant (or Secondary Annuitant), the amount payable will be the applicable Earnings Increase Amount described above plus the
greatest applicable Death Benefit otherwise provided under the contract or any other rider. 
 
Payment is subject to all provisions and limitations of this Rider and the Contract to which it is attached. 
 

Rider Cost 
 
Is there an additional cost for this Rider deducted from the Contract? 
 
Yes. The cost for this Rider is a Daily Mortality/Expense Risk Charge shown in
Section 1. The Charge is in addition to the Mortality/Expense Risk Charges otherwise applicable and will not change for the duration of the Contract. 
 

Rider Termination 
 
Can I terminate this Rider? 
 
No. This Rider can not be terminated and will remain in force for the duration of the Contract. 
 
When will this Rider end? 
 
This Rider will end on the earliest of: 
 

	(a)	 	the date of the Owner’s death; 

	(b)	 	the date of the Annuitant’s death; 

	(c)	 	the Annuity Starting Date; 

	(d)	 	the date the Contract is surrendered for its Cash Value. 

 
What does it mean when the rider ends? 
 
On and after its end, this rider will have no force. 

Rider attached to and forming a part of Contract
issued by MONY Life Insurance Company of America 
 
The
effective date of this Rider is the date of issue of the Contract. If any provision of this Rider is inconsistent with any provision of the Contract, the Rider provision controls the Rider. 
 

GUARANTEED
MINIMUM DEATH BENEFIT RIDER WITH 5% ANNUAL INTEREST 
 

The Benefit 
 
What is the benefit of this rider? 
 
This
Rider provides an Enhanced Death Benefit which, if greater than the Death Benefit described in the Contract or in any other Guaranteed Minimum Death Benefit rider, is payable to the Beneficiary of the Contract. Payment is made upon the death of the
Annuitant (or Secondary Annuitant, if applicable) prior to the Annuity Starting Date. 
 
How is the Enhanced Death Benefit calculated? 
 
The Enhanced Death Benefit will be calculated as of the date we receive due proof of death of the Annuitant (or Secondary Annuitant) prior to the Annuity Starting Date as follows: 
 
Step 1: Accumulate each Purchase Payment at an annual rate of 5% interest from
the date of the Purchase Payment to the date we receive due proof of death, but not beyond the most recent contract anniversary prior to the Annuitant’s 81st birthday. 
 
Step
2: Accumulate each partial surrender (including any Market Value Adjustment and any Surrender Charge) at an annual rate of 5% interest from the date of the partial surrender to the date we receive due proof of death, but not beyond the most recent
contract anniversary prior to the Annuitant’s 81st birthday. 
 
Step 3: Subtract the total amount in Step 2 from the total amount in Step 1.

 
Step 4: Subtract any partial surrender made after the most
recent policy anniversary prior to the Annuitant’s 81st birthday but before the date we receive due proof of
death. 
 
Step 5: Add any Purchase Payments made after the most
recent policy anniversary prior to the Annuitant’s 81st birthday but before the date we receive due proof of
death. 
 
Step 6: Subtract any Debt due us, if applicable.

 
Payment is subject to all provisions and limitations of this
Rider and the Contract to which it is attached. 
 
Is there a
limit on the Enhanced Death Benefit? 
Yes. The Enhanced Death Benefit can not exceed 200% of the total Purchase Payments paid, reduced
proportionately for any partial surrenders (reflecting any Market Value Adjustment, if applicable, and any Surrender Charge) and less any Debt due us, if applicable. 
 
How are proportionate reductions determined? 
For each partial surrender, the proportionate reduction is equal to the amount of that partial surrender divided by the Fund Value immediately before that partial surrender, multiplied by the Enhanced
Death Benefit immediately before that partial surrender. 
 

Rider Cost 
 
Is there an additional cost for this Rider deducted from the Contract? 
Yes. The cost for this rider is a Daily
Mortality/Expense Risk Charge shown in Section 1. This Charge is in addition to the Mortality/Expense Risk Charges otherwise applicable and will not change for the duration of the Contract. 
 

Rider Termination

 
Can I terminate this Rider? 
No. This rider can not be terminated and will remain in force for the duration of the Contract. 
 
When will this Rider end? 
This Rider will end on the earliest of: 

	(a)	 	the date of the Owner’s death; 

	(b)	 	the date of the Annuitant’s death; 

	(c)	 	the Annuity Starting Date; 

	(d)	 	the date the Contract is surrendered for its Cash Value. 

 
What does it mean when the rider ends? 
On and after its end, this rider will have no force. 

Rider attached to and forming a part of Contract
issued by MONY Life Insurance Company of America 
 
The
effective date of this Rider is the date of issue of the Contract. If any provision of this Rider is inconsistent with any provision of the Contract, the Rider provision controls the Rider. 
 

NURSING
HOME WAIVER RIDER 
 

 
The Benefit 
 
What is the benefit of this rider? 
 
This Rider provides for the waiver of surrender charges for a full or partial surrender if the Owner is confined in a Nursing Home (as defined below) and
certain conditions are met. 
 
What is a “Nursing
Home”? 
 
A Nursing Home is a facility which:

 

	1.	 	is licensed by or legally operated in a state as a skilled or intermediate care facility; 

	2.	 	provides 24 hour per day nursing care under the supervision of a registered nurse to persons who do not require hospitalization but who do require care above the
level of room and board with assistance; 

	3.	 	is under the supervision of a Physician; 

	4.	 	maintains a daily clinical record of each patient in conformance with a plan of care. 

 
Nursing Home does not include a hospital or a facility licensed only to offer supervised or assisted room and board, rest
care, care of the aged or treatment of alcoholism, drug additions or mental or nervous disorders. 
 
What conditions must be met in order for the waiver of surrender charges to apply to a full or partial surrender? 
 
At the time a request for a full or partial surrender is made, the following conditions must be met: 
 

	1.	 	we must receive proof that the Owner is currently confined to a Nursing Home and has spent a period of 90 consecutive days in the Nursing Home;

	2.	 	the confinement must have been prescribed by a Physician; 

	3.	 	the 90-day period must have started after the Contract’s first anniversary. 

 

Rider Cost

 
Is there an additional cost for this Rider deducted from
the Contract? 
 
No. The cost for this Rider is included in the
Daily Mortality/Expense Risk Charge of the Contract. 
 

Rider Termination 
 
When will this Rider end? 
 
This Rider will
end on the earliest of: 

	(a)	 	the date of the Owner’s death; 

	(b)	 	the date of the Annuitant’s death; 

	(c)	 	the Annuity Starting Date; 

	(d)	 	the date the Contract is surrendered for its Cash Value. 

 
What does it mean when the rider ends? 
 
On and after its end, this rider will have no force.1ST AMENDMENT TO RIGHTS AGREEMENT

 

     EXHIBIT 10.1

FIRST AMENDMENT TO RIGHTS AGREEMENT

     This First Amendment to Rights Agreement (this “Amendment”) is entered
into as of March 24, 2003, between Graphic Packaging International Corporation,
a Colorado corporation (the “Company”), and Wells Fargo Bank Minnesota,
National Association (f/k/a Norwest Bank Minnesota, N.A.) (the “Rights Agent”).

RECITALS

	A.	 	Wells Fargo Bank Minnesota, National Association, as successor in
interest to Norwest Bank Minnesota, N.A., is the current Rights Agent
under the Rights Agreement.
	 
	B.	 	The Company, Riverwood Holding, Inc., a Delaware corporation
(“Riverwood”), and Riverwood Acquisition Sub LLC, a Delaware limited
liability company (“MergerSub”) intend to enter into an Agreement and Plan
of Merger pursuant to which, among other things, the Company will merge
with and into MergerSub (the “Merger”).
	 
	C.	 	On March 24, 2003, the Board of Directors of the Company resolved to
amend the Rights Agreement to render the Rights inapplicable to the Merger
and the other related transactions.
	 
	D.	 	Section 27 of the Rights Agreement permits the Company, from time to
time, to direct the Rights Agent to supplement and amend the Rights
Agreement without the approval of any holder of Rights (as defined in the
Rights Agreement).

AGREEMENT

     Now therefore, in consideration of the foregoing and the agreements,
provisions and covenants herein contained, the parties agree as follows:

     1.     The definition of “Acquiring Person” in Section 1 of the Rights
Agreement shall be amended to read in its entirety as follows:

          (a) “Acquiring Person” means any Person that, together with all
Affiliates and Associates of such Person, is the Beneficial Owner of 15% or
more of the shares of Common Stock then outstanding, but shall not include (i)
the Company, any Subsidiary of the Company, any employee benefit plan of the
Company or of any Subsidiary of the Company, or any Person or entity organized,
appointed or established by the Company for or pursuant to the terms of any
such plan; (ii) any Person who would otherwise become an Acquiring Person
solely as a result of a reduction in the number of shares of Common Stock
outstanding due to the acquisition of shares of Common Stock by the Company or
a Subsidiary of the Company, unless and until such Person shall thereafter
purchase or otherwise become the Beneficial Owner of additional shares of
Common Stock constituting one percent or more of the then outstanding shares of
Common Stock; (iii) any of the following Persons, or any of the immediate
transferees of Common Stock

 

of any of the following Persons: the Adolph Coors, Jr. Trust, any
individual who or entity which has been, is or in the future becomes a trustee
thereof, any other trust the primary beneficiaries of which are descendants of
Adolph Coors, Sr. or spouses of such descendants, and/or any individual who or
entity which has been, is or in the future becomes a trustee of any such
trusts; or (iv) any of the following Persons, their Affiliates, Associates or
Subsidiaries: (x) Riverwood Holding, Inc., a Delaware corporation (“Riverwood”)
or Riverwood Acquisition Sub LLC, a Delaware limited liability company
(“MergerSub”), (y) any of Riverwood’s or MergerSub’s permitted assigns under
the Merger Agreement or Voting Agreement (each, as defined below) or (z) any
Person whose Beneficial Ownership of shares of Common Stock is a result of such
Person being a Beneficial Owner of a Person specified in clause (x) or (y)
above; provided, however, that those Persons specified in clauses (x), (y) and
(z) above shall be excluded from definition of “Acquiring Person” only to the
extent that such Person becomes the Beneficial Owner of shares of Common Stock
as a result of (A) the execution and delivery of the Agreement and Plan of
Merger between the Company, Riverwood and MergerSub as approved by the Board of
Directors of the Company and as such agreement may be amended by the parties
(the “Merger Agreement”), (B) the execution and delivery of the Voting
Agreement among Riverwood and certain shareholders of the Company, as such
agreement may be amended by the parties (the “Voting Agreement”), or (C) the
consummation of the transactions contemplated by the Merger Agreement or the
Voting Agreement. Notwithstanding the foregoing, if the Board of Directors of
the Company determines in good faith that a Person who would otherwise be an
“Acquiring Person,” as defined pursuant to the foregoing provisions of this
paragraph (a), has become such inadvertently, and such Person divests as
promptly as practicable a sufficient number of shares of Common Stock so that
such Person would no longer be an “Acquiring Person,” as defined pursuant to
the foregoing provisions of this paragraph (a), such person shall not be deemed
to be an “Acquiring Person” for any purposes of this Agreement.

     2.     The definition of “Distribution Date” in Section 1 of the Rights
Agreement shall be amended to read in its entirety as follows:

          (h) Distribution Date” shall mean the earlier of the following: (i) the
close of business on the tenth day after the Stock Acquisition Date (or, if the
tenth day after the Stock Acquisition Date occurs before the Record Date, the
close of business on the Record Date), or (ii) the close of business on the
tenth Business Day after the date that a tender or exchange offer by any Person
(other than the Company, any Subsidiary of the Company, any employee benefit
plan of the Company or of any Subsidiary of the Company, or any Person or
entity organized, appointed or established by the Company for or pursuant to
any such plan) is first published or sent or given within the meaning of Rule
14d-2(a) of the General Rules and Regulations under the Exchange Act, if upon
consummation thereof, such Person would be the Beneficial Owner of 15% or more
of the shares of Common Stock then outstanding; provided however that neither
the execution and delivery of the Merger Agreement or the Voting Agreement, nor
the announcement, pendency or consummation of the transactions contemplated
thereby, will cause the Distribution Date to occur.

     3.     The definition of “Section 11(a)(ii) Event” in Section 1 of the Rights
Agreement shall be amended to read in its entirety as follows:

2

 

          (l) “Section 11(a)(ii) Event” means any event described in Section
11(a)(ii) of this Agreement; provided, however, that notwithstanding anything
in this Agreement to the contrary, neither the execution and delivery of the
Merger Agreement or the Voting Agreement, nor the announcement, pendency or
consummation of the transactions contemplated thereby, will constitute a
Section 11(a)(ii) Event.

     4.     The definition of “Section 13 Event” in Section 1 of the Rights
Agreement shall be amended to read in its entirety as follows:

          (m) “Section 13 Event” means any event described in clauses (x), (y) or
(z) of Section 13(a) of this Agreement; provided, however, that notwithstanding
anything in this Agreement to the contrary, neither the execution and delivery
of the Merger Agreement or the Voting Agreement, nor the announcement, pendency
or consummation of the transactions contemplated thereby, will constitute a
Section 13 Event.

     5.     The definition of “Stock Acquisition Date” in Section 1 of the Rights
Agreement shall be amended to read in its entirety as follows:

          (n) “Stock Acquisition Date” means the first date of public announcement
(which, for purposes of this definition, includes, without limitation, a report
filed pursuant to Section 13(d) under the Exchange Act) by the Company or an
Acquiring Person that an Acquiring Person has become such; provided, however,
that notwithstanding anything in this Agreement to the contrary, neither the
execution and delivery of the Merger Agreement or the Voting Agreement, nor the
announcement, pendency or consummation of the transactions contemplated
thereby, will constitute a Stock Acquisition Date.

     6.     The definition of “Triggering Event” in Section 1 of the Rights
Agreement shall be amended to read in its entirety as follows:

          (p) “Triggering Event” means any Section 11(a)(ii) Event or Section 13
Event; provided, however, that notwithstanding anything in this Agreement to
the contrary, neither the execution and delivery of the Merger Agreement or the
Voting Agreement, nor the announcement, pendency or consummation of the
transactions contemplated thereby, will constitute a Triggering Event.

     7.     In all other respects the Rights Agreement is ratified and confirmed.

[Signature page to follow]

3

 

     In witness whereof, the parties hereto have caused this Amendment to be
duly executed and their respective corporate seals to be hereunto affixed and
attested, all as of the day and year first above written.

	 	 	 	 	 	 	 
	Attest:	 	 	 	GRAPHIC PACKAGING 

        INTERNATIONAL CORPORATION
	 	 	 	 	 	 	 
	By:	 	
/s/ Jill B.W. Sisson
	 	By:
	 	/s/ Jeffrey H. Coors
	 	 	

	 	 	 	

	Name:	 	
Jill B.W. Sisson
	 	Name:
	 	Jeffrey H. Coors
	 	 	

	 	 	 	

	Title:	 	
General Counsel and Secretary
	 	Title:
	 	President and CEO
	 	 	

	 	 	 	

	 	 	 	 	 	 	 
	 	 	 	 	WELLS FARGO BANK MINNESOTA,

NATIONAL ASSOCIATION
	 	 	 	 	 	 	 
	 	 	 	 	By:
	 	/s/ Barbara M. Novak
	 	 	 	 	 	 	

	 	 	 	 	Name:
	 	Barbara M. Novak
	 	 	 	 	 	 	

	 	 	 	 	Title:
	 	Vice President
	 	 	 	 	 	 	

[Signature page to First Amendment to Rights Agreement]

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