Document:

<PAGE>
                                                                   Exhibit 10.18

                                PROMISSORY NOTE

                                                         Santa Clara, California
$250,000                                           EFFECTIVE DATE: JUNE 14, 2002

   FOR VALUE RECEIVED, the undersigned, Daniel Rubin, an individual
(hereinafter, "DEBTOR"), hereby promises to pay to KINETICS GROUP, INC., a
California corporation (hereinafter, "LENDER"), in lawful money of the United
States of America, the sum of Two Hundred and Fifty Thousand Dollars ($250,000),
plus interest at the rate set forth below.

     INTEREST. From the effective date of this Note, interest shall accrue on
the unpaid balance hereof at the rate of 8%, compounded monthly, or the
maximum rate allowed by law, whichever is less.

     MATURITY AND PAYMENT. The principal amount of this Note along with all
accrued interest shall become fully due and payable on June 13, 2003, if not
earlier accelerated pursuant to the terms below.

     PREPAYMENT. DEBTOR may prepay all or any portion of this NOTE without
penalty.

     SECURITY INTEREST. DEBTOR shall execute such documents as LENDER shall
reasonably require to allow LENDER to perfect a security interest in DEBTOR'S
residence in Los Altos Hills, California.

     COLLECTION COSTS BORNE BY DEBTOR. In the event of any failure on the part
of DEBTOR to make any payment within 15 days after written notice by LENDER
that such payment is due, LENDER shall be entitled to recover from DEBTOR all
costs of effecting collection, including reasonable attorneys' fees. Unpaid
principal and interest subject to collection shall bear interest at the maximum
rate allowed by law.

     DEFAULT BY DEBTOR. The entire unpaid principal balance of this NOTE shall,
at the election of LENDER, become immediately due and payable upon the
occurrence of any of the following events of default:

     a. The failure of DEBTOR to make any interest or principal payment within
5 days after written notice by LENDER that such payment is due.

     b. The filing by DEBTOR of a voluntary petition in bankruptcy,
arrangement, or other relief under federal bankruptcy law, or a voluntary
petition for the appointment of a receiver or for such other relief under the
laws of any State, or the making by DEBTOR of an assignment of all or
substantially all of its assets for the benefit of creditors.

                                       1

<PAGE>
          c.   The adjudication of DEBTOR as a bankrupt or insolvent, the
appointment of a receiver of all or substantially all of DEBTOR's assets if such
adjudication, order, or appointment is made upon a petition filed against DEBTOR
and is not, within 60 days after it is made, vacated or stayed on appeal or
otherwise, or if DEBTOR by any action or failure to act signifies its approval
thereof, consent thereto, and acquiescence therein.

          Governing Law. This NOTE shall be construed and enforced in
accordance with the laws of the State of California.

          Successors. This NOTE shall be binding upon and shall inure to the
benefit of the parties and their respective representatives, heirs,
administrators, successors and assigns, except as otherwise provided in this
NOTE.

          Written Modification. No modification to this NOTE, nor any waiver of
any rights, shall be effective unless assented to in writing by the party to be
charged, and the waiver of any breach or default shall not constitute a waiver
of any other right or any subsequent breach or default.

          Severability. If any of the provisions of this NOTE are determined to
be invalid or unenforceable, the remaining provisions shall be deemed severable
and shall continue in full force and effect.

     DEBTOR has set its hand to this NOTE effective as of the date set forth
above.

                                        DEBTOR:

                                        /s/ Daniel C. Rubin
                                        -------------------------------
                                        Daniel C. Rubin

                                       2Prepared by R.R. Donnelley Financial -- Individual Annuity Contract

  
 EXHIBIT 4(a) 
  
 First SunAmerica Life Insurance Company 
 A STOCK
COMPANY            NEW YORK, NEW YORK 
  
 
	 CONTRACT NUMBER
 	  	 P9999999999
 
	 
	 OWNER
 	  	 JOHN DOE
 

 
  
 
	 EXECUTIVE OFFICE
 733 THIRD AVE., 4TH FLOOR
 NEW YORK, NY 10017
 	    	 ANNUITY SERVICE CENTER
 P. O.
BOX 54299
 LOS ANGELES, CA 90054-0299
 

 
  
 FIRST SUNAMERICA LIFE INSURANCE COMPANY (“We”, “Us”, the
“Company”, or “First SunAmerica”) agrees to provide benefits to the Owner in accordance with the provisions set forth in this Contract and in consideration of the Owner’s application and the Purchase Payment We receive.

  
 The value of amounts allocated to the Subaccounts is not guaranteed. The value will increase or decrease based upon the investment
experience of the investments underlying the Subaccounts You choose. The cash surrender benefit of amounts allocated to any Fixed MVA Account Option increases or decreases based on the application of the Market Value Adjustment. The unadjusted cash
surrender benefit is available for 30 days after the end of the Guarantee Period. There is no Market Value Adjustment for any cash surrender benefit of amounts allocated to Fixed Non-MVA Account Options. 
  
 The Separate Account Charge is charged against the assets of the Separate Account. This charge includes fees for mortality and expense risk and the
distribution expense. On an annualized basis the charge equals [1.52%]. These charges are assessed, on a simple interest basis, as a percentage of the average daily ending value of the assets attributable to the Accumulation Units of the Subaccounts
to which Your Contract Value is allocated. The daily charge is 1/365th of the annualized
charge. The variable annuity rate of return is based on compound interest. Thus, the smallest annual effective rate of investment return that would have to be earned on assets of the separate account so that the dollar amount of variable annuity
payments will not decrease is [5.09%], compounded daily. 
  
 RIGHT TO EXAMINE—If, within 10 days of receipt of this Contract,
You are not satisfied with it, You may return the Contract to Our Annuity Service Center, or the agent through whom the Contract was purchased. We will refund the Contract Value computed as of the end of the business day we receive the Contract in
Our Annuity Service Center. Upon such refund, the Contract shall be void. 
  
 For Individual Retirement Annuities, a refund of the
Purchase Payment(s) may be required. Therefore, We reserve the right to allocate Your Purchase Payment(s) to the Cash Management Portfolio until the end of the Right To Examine period. Thereafter, allocations will be made as shown on the Contract
Purchase Payment Allocation page. 
  
 THIS IS A LEGAL DOCUMENT. READ IT CAREFULLY. 
  
 /s/    JAY S. WINTROB         
 
Jay S. Wintrob 
 President 
  
 INDIVIDUAL FIXED AND 
 VARIABLE ANNUITY CONTRACT

 Nonparticipating 
  
 

 1 

 TABLE OF CONTENTS 
  
 
	 
	 Contract Data Page
 	  	 Page 3
 
	 
	 Purchase Payment Allocation
 	  	 Page 4
 
	 
	 Definitions
 	  	 Page 5
 
	 
	 General Provisions
 	  	 Page 8
 
	 
	 Purchase Payment Provisions
 	  	 Page 10
 
	 
	 Accumulation Provisions
 	  	 Page 10
 
	 
	 Charges and Deductions
 	  	 Page 12
 
	 
	 Transfer Provision
 	  	 Page 12
 
	 
	 Withdrawal Provisions
 	  	 Page 13
 
	 
	 Death Provisions
 	  	 Page 14
 
	 
	 Annuity Provisions
 	  	 Page 16
 
	 
	 Annuity Payment Options
 	  	 Page 18
 

 
 

 2 

 Contract Data Page 
  
 
	 Contract Number:
 P9999999999

	 	 Annuity Service Center:
 P. O. BOX
54299
 LOS ANGELES, CA 90054-0299
 
	 Owner:
 JOHN DOE
 	 	 Age at Issue:
 35
 
	 Annuitant:
 JOHN DOE
 	 	 Initial Purchase Payment:
 [$10,000.00 ]
 
	 Specified Annuity Date:
 July 1,
2031
 	 	 Contract Date:
 July 1,
2001
 
	 Latest Annuity Date:
 July 1,
2061
 	 	 Minimum Guarantee Rate for
 Fixed Account Options -
 3.0%
 
	 Separate Account Charge:
 [1.52%]
 	 	 Annual Contract Administration Charge:
 $30.00
 
	 Beneficiary:
 As named by You

	 	  
	 Separate Account:
 [FS Variable
Separate Account]
 	 	  
	 Optional Elections
 Maximum Anniversary Value Death Benefit Elected:
 	 	 Optional Election Charges:
 0.20%
 

 
  
 
	  
	  
	  
	  
	  
	  
	  
	 For Inquiries
 [Call
1-800-996-9786] 
 

 
 

 3 

 PURCHASE PAYMENT ALLOCATION 
  
 Subaccounts 
  
 
	 _____% Growth-Income
 	 	 _____% Strategic Growth Portfolio
 	  	 _____% Alliance Growth
 
	 _____% Real Estate
 	 	 _____% Conservative Growth Portfolio
 	  	 _____% Global Equities
 
	 _____% Federated Value
 	 	 _____% Balanced Portfolio
 	  	 _____% Nations Capital Growth
 
	 _____% Telecom Utility
 	 	 _____% Conservative Balanced Portfolio
 	  	 _____% Nations MidCap Growth
 
	     75  % Goldman Sachs Research
 	 	 _____% Flexible Income Portfolio
 	  	 _____% Nations Small Company
 
	 _____% Marsico Growth
 	 	 _____% Corporate Bond
 	  	 _____% Nations Value Fund
 
	 _____% MFS Growth & Income
 	 	 _____% Global Bond
 	  	 _____% Nations International Value
 
	 _____% International Diversified Equities
 	 	 _____% Worldwide High Income
 	  	 _____% Nations Marsico 21st Century
 
	 _____% Emerging Markets
 	 	 _____% High-Yield Bond
 	  	 _____% Nations Marsico Focused Equities
 
	 _____% International Growth & Income
 	 	 _____% Government and Quality Bond
 	  	 _____% MFS Growth & Income
 
	 _____% Putnam Growth
 	 	 _____% Nations High Yield Bond
 	  	 _____% MFS Mid-Cap Growth
 
	 _____% Aggressive Growth
 	 	 _____% Focus Growth Portfolio
 	  	 _____% International Diversified Equities
 
	 _____% Blue Chip Growth
 	 	 _____% Focus Growth & Income Portfolio
 	  	 _____% Technology
 
	 _____% “Dogs” of Wall Street
 	 	 _____% Focus TechNet Portfolio
 	  	 _____% Nations Asset Allocation
 
	 _____% Growth Opportunities
 	 	 _____% Focus Value Portfolio
 	  	 _____% Asset Allocation
 
	 _____% Growth
 	 	 _____% Equity Income Fund
 	  	 _____% MFS Total Return
 
	 _____% Natural Resources
 	 	 _____% Growth & Income Fund
 	  	 _____% SunAmerica Balanced
 
	 _____% Large Cap Growth Portfolio
 	 	 _____% Growth Fund of the Northwest
 	  	 _____% Short Term Income Fund
 
	 _____% Large Cap Composite Portfolio
 	 	 _____% Growth Fund
 	  	 _____% Government Securities Fund
 
	 _____% Large Cap Value Portfolio
 	 	 _____% Mid Cap Stock Fund
 	  	 _____% Income Fund
 
	 _____% Mid Cap Growth Portfolio
 	 	 _____% Small Cap Stock Fund
 	  	 _____% Money Market Fund
 
	 _____% Mid Cap Value Portfolio
 	 	 _____% International Growth Fund
 	  	 _____% MFS Mid-Cap Growth
 
	 _____% Small Cap Portfolio
 	 	 _____% Alliance Growth
 	  	 _____% Technology
 
	 _____% International Equity Portfolio
 	 	 _____% Global Equities
 	  	 _____% Capital Appreciation
 
	 _____% Diversified Fixed Income Portfolio
 	 	 _____% Davis Venture Value
 	  	 _____% Moderate Growth Strategy
 
	 _____% Cash Management Portfolio
 	 	 _____% Nations Marsico Growth & Income
 	  	 _____% Balanced Growth Strategy
 
	 _____% Growth Strategy
 	 	 _____% Nations Marsico International Opportunities
 	  	 _____% Conservative Growth Strategy
 
	 _____% Small & Mid Cap Value
 	 	 _____% Foreign Value
 	  	 _____% Lord Abbett Series Fund
 

 
  
 
	 
	  	  	 Fixed Account Options
 	  	  
	 
	  	  	 Guarantee Period
 	  	 Initial Interest Rate
 
	 25.00%
 	  	 3-Year Fixed MVA
 	  	 [3.00%]
 
	 [0.00%
 	  	 1-Year Fixed Non-MVA ]
 	  	  
	 
	  	  	 DCA Fixed Account Options 
 	  	  
	 
	 0.00%
 	  	 6-Month DCA Fixed Non-MVA 
 	  	  
	 0.00%
 	  	 1-Year DCA Fixed Non-MVA
 	  	  

 
 

 4 

  
 DEFINITIONS 
  
 Defined in this section are some of the words and phrases used in this Contract. These terms are capitalized when used in the Contract. Other capitalized terms in the Contract refer to the captioned
paragraph explaining that particular concept in the Contract. 
  
 ACCUMULATION UNIT 
  

A unit of measurement used to compute the Contract Value in a Subaccount prior to the Annuity Date. 
  
 AGE 
  
 Age as of last birthday. 
  
 ANNUITANT 
  
 The natural person or persons (collectively, Joint Annuitants) whose life or lives is/are used
to determine the annuity benefits under the Contract. If the Contract is in force and the Annuitant(s) is/are alive on the Annuity Date, We will begin payments to the Payee. This Contract cannot have Joint Annuitants if it is issued in connection
with a tax-qualified retirement plan. 
  
 ANNUITY DATE 
  
 The date on which annuity payments (“income payments”) to the Payee begin. This date cannot be later than the Latest Annuity Date. 
  
 ANNUITY SERVICE CENTER 
  
 As specified on the Contract Data Page. 
  
 ANNUITY UNIT 
  
 A unit of measurement used to compute
annuity payments from the Subaccounts. 
  
 BENEFICIARY 
  
 The Beneficiary is as named by You at issue, unless later changed by You in a written request to Us at Our Annuity Service Center. 
  
 CONTRACT DATE 
  
 The date Your Contract is issued, as shown on the Contract Data Page. It is the date from which
Contract Years and anniversaries are measured. 
  
 CONTRACT VALUE 
  
 The sum of: (1) Your share of the Subaccounts Accumulation Unit values and (2) the value of amounts allocated to the Fixed Account Options. 
  

CONTRACT YEAR 
  
 One year starting from the Contract Date in one calendar year and
ending on the day preceding the anniversary of such date in the succeeding calendar years. 
  
 CONTINUATION DATE 
  
 The Date on which We receive, at Our Annuity Service Center: (a) the Spousal Beneficiary’s satisfactory written request to continue the Contract inforce,
and (b) Due Proof of Death of the Owner. If We receive (a) and (b) on different dates, the Continuation Date will be the later date. 
 

 5 

  
 CURRENT INTEREST RATE 
  
 The rate(s) of interest declared by Us applicable to allocations of Subsequent Purchase Payments to the Fixed Account Options. The Current Interest Rate will not be less than the Minimum Guaranteed
Rate as shown on the Contract Data Page. 
  
 DOLLAR COST AVERAGING PROGRAM (DCA) 
  

An optional program under which You authorize the automatic transfer of specified amounts or percentages from one or more designated source accounts(s) into any Subaccount(s) other than the
source account. MVA Fixed Account Options are not available as source accounts under the DCA Program. Any portion of a Purchase Payment allocated to the DCA Fixed Account Option(s) must be transferred out within the specified DCA Fixed Account
Option Period (6 contract months or 1 contract year from the date each Purchase Payment is allocated to the DCA Fixed Account Option), depending on which DCA Fixed Account Option is selected. The unit values credited and applied to Your Contract are
determined on each date of transfer. Upon termination of the DCA program any amounts remaining in the DCA Fixed Account Option(s) will be transferred to the DCA target allocation(s) for the program being terminated. Upon annuitization, any amounts
remaining in the DCA Fixed Account Option(s) will be applied to the Fixed Annuity Payments.             
  
 FIXED ACCOUNT OPTIONS 
  
 The investment options under this Contract that are credited with a fixed rate of
interest declared by the Company. All amounts allocated to the Fixed Account Options become part of the Company’s general asset account. The general asset account contains all the assets of the Company except for the Separate Account and other
segregated asset accounts. The Fixed Account Options for this Contract are shown on page 4. 
  
 FIXED ANNUITY 
  
 A series of periodic annuity payments of predetermined amounts that do not vary with investment experience. Such payments are made from the Company’s
general asset account. 
  
 GUARANTEE PERIOD 
  
 The period for which either the Initial Interest Rate, the Current Interest Rate or the Renewal Interest Rate is credited to amounts allocated to the Fixed Account Options. 
  

INITIAL INTEREST RATE 
  
 The rate(s) of interest credited to any portion of the
Initial Purchase Payment allocated to the Fixed Account Option(s) as described in the Accumulation Provisions section. The Initial Interest Rate(s) for this Contract is/are listed on page 4. The Initial Interest Rate may not be less than the Minimum
Guaranteed Rate as shown on the Contract Data Page. 
  
 IRC 
  
 The Internal Revenue Code of 1986, as amended, or as it may be amended or superseded. 
  
 JOINT
OWNER 
  
 If Joint Owners are named, each Joint Owner has an equal ownership interest in the Contract unless We are advised otherwise in
writing.   
  
 NET PURCHASE PAYMENT 
  
 The sum of all Purchase Payments, reduced proportionately on the date of each partial withdrawal by the percentage at which the Contract Value is reduced by each such withdrawal (including any charges applicable to the withdrawal).

  
 NYSE 
  
 New York Stock
Exchange. 
 

 6 

  
 OWNER 
  
 The person or entity named in the Contract who is entitled to exercise all rights and privileges of ownership under the Contract. Owner means both Joint Owners, if applicable. 
  

PAYEE 
  
 The person receiving payment of annuity benefits under this Contract.

  
 PURCHASE PAYMENTS 
  
 Payments
in U.S. currency made by or on behalf of the Owner to the Company for the Contract. 
  
 RENEWAL INTEREST RATE 
  
 The rate(s) of interest declared by Us applicable to transfers from the Subaccounts and/or Fixed Account Option(s) into any of the Fixed Account Options and to
amounts previously allocated to a Fixed Account Option wherein the Guarantee Period has expired. The Renewal Interest Rate may not be less than the Minimum Guarantee Rate as shown on the Contract Data Page. 
  
 SEPARATE ACCOUNT 
  
 The segregated asset account named
on the Contract Data Page. The Separate Account consists of several Subaccounts, each investing in the shares of the Underlying Fund(s) of the trust(s). The assets of the Separate Account are not commingled with the general assets and liabilities of
the Company. Each Subaccount is not chargeable with liabilities arising out of any other Subaccount. The value of amounts allocated to the Subaccounts of the Separate Account is not guaranteed. 
  

SPECIFIED ANNUITY DATE 
  
 The anticipated Annuity Date specified by You as shown on
Contract Data Page. This date may be changed by You in writing prior to the Annuity Date, but in no event can it be later than the Latest Annuity Date. If this date is not specified, it will be the Latest Annuity Date. 
  
 SPOUSAL BENEFICIARY 
  
 The deceased original
Owner’s surviving spouse who is designated as the primary Beneficiary and may continue the Contract as the Owner on the Continuation Date. 
  
 SUBACCOUNT (“VARIABLE PORTFOLIO”) 
  
 One or more divisions of the Separate Account, which provides for the
variable investment options available under this Contract. Each Subaccount has its own investment objective and is invested in an Underlying Fund of the trusts. A Subaccount is not chargeable with liabilities arising out of any other Subaccount. The
available Subaccounts are shown on page 4. Additional Subaccounts may become available in the future. 
  
 SUBSEQUENT PURCHASE PAYMENTS

  
 Purchase Payments made subsequent to the Initial Purchase Payment.   
  

TOTAL INVESTED AMOUNT 
  
 The sum of all Purchase Payments less amounts previously
withdrawn that incurred a Withdrawal Charge, less Purchase Payments withdrawn that were no longer subject to a Withdrawal Charge. 
  
 UNDERLYING
FUND 
  
 The variable investment options that make up the trusts in which the corresponding Subaccount(s) invest. 
 

 7 

  
 VARIABLE ANNUITY 
  
 A series of periodic annuity payments which vary in amount according to the investment experience of one or more Subaccount, as selected by You. 
  
 WE, OUR, US, THE COMPANY 
  
 First SunAmerica Life Insurance Company. 
  
 YOU, YOUR 
  
 The Owner. 
  
 GENERAL PROVISIONS 
  
 ENTIRE
CONTRACT 
  
 The entire contract between You and Us consists of the Application Form as completed by You at the time of purchase, this
Contract and any attached endorsement(s). An agent cannot change the terms or conditions of this Contract. Any change must be in writing and approved by Us. Only Our President, Secretary, or one of Our Vice-Presidents can give Our approval.

  
 CHANGE OF ANNUITANT 
  
 If the
Owner is an individual, the Owner may change the Annuitant at any time prior to the Annuity Date. To make a change, the Owner must send a written notice to Us at least 30 days before the Annuity Date. If the Owner is not an individual, the Owner may
not change the Annuitant. 
  
 DEATH OF ANNUITANT 
  
 If the Owner and Annuitant are different, and the Annuitant dies before the Annuity Date, the Owner becomes the Annuitant until the Owner elects a new Annuitant. If there are Joint Annuitants, upon the death of any Annuitant
prior to the Annuity Date, the Owner may elect a new Joint Annuitant. However, if the Owner is a non-natural person, We will treat the death of any Annuitant as the death of the “Primary Annuitant” and as the death of the Owner, see DEATH
PROVISIONS.             
  
 MISSTATEMENT OF AGE OR SEX 
  
 If the Age or sex of any Annuitant has been misstated, future annuity payments will be adjusted using the correct Age and sex, according to Our rates in effect
on the date that annuity payments were determined. Any overpayment from the Fixed Annuity Payment Options, plus interest at the rate of 4% per year, will be deducted from the next payment(s) due. Any underpayment from the Fixed Annuity Payment
Options, plus interest at the rate of 4% per year, will be paid in full with the next payment due. Any overpayment from the Subaccount(s) will be deducted from the next payment(s) due. Any underpayment from the Subaccount(s) will be paid in full
with the next payment due. 
  
 PROOF OF AGE, SEX, OR SURVIVAL 
  
 The Company may require satisfactory proof of correct Age or sex at any time. If any payment under this Contract depends on the Annuitant being alive, the Company may require satisfactory proof of
survival. 
  
 DEFERMENT OF PAYMENTS 
  
 We may defer making payments from the Fixed Account Options for up to six (6) months. Interest, subject to state requirements, will be credited during the deferral period. 
  

SUSPENSION OF PAYMENTS 
  
 We may suspend or postpone any payments from the
Subaccounts if any of the following occur: 
  

	(a)
	 
	the NYSE is closed; 
 

 

 8 

  

	(b)
	 
	trading on the NYSE is restricted; 
 

  

	(c)
	 
	an emergency exists such that it is not reasonably practical to dispose of or determine the value of assets held in the Subaccount(s); or 

  

	(d)
	 
	the Securities and Exchange Commission, by order, so permits for the protection of Owners. 
 

  
 Conditions in (b) and (c) will be decided by or in accordance with rules of the Securities and Exchange Commission. 
  
 CONFORMITY WITH STATE LAWS 
  
 The provisions of this
Contract will be interpreted by the laws of the state in which the Application Form was signed or such other state as is required by law. Any provision which, on the Contract Date, is in conflict with the law of such state is amended to conform to
the minimum requirements of such law. 
  
 CHANGES IN LAW 
  
 If the laws governing this Contract or the taxation of benefits under the Contract change, We reserve the right to amend this Contract to comply with these changes to New York Department of Insurance.

  
 ASSIGNMENT 
  
 You may assign
this Contract before the Annuity Date, but We will not be bound by an assignment unless it is received by Us in writing. Your rights and those of any other person referred to in this Contract will be subject to the assignment. Certain assignments
may be taxable. We do not assume any responsibility for the validity or tax consequences of any assignment. 
  
 CLAIMS OF CREDITORS

  
 To the extent permitted by law, no right or proceeds payable under this Contract will be subject to claims of creditors or legal
process. 
  
 PREMIUM TAXES AND OTHER TAXES 
  
 The Company may deduct from Your Contract Value any premium tax and/or other taxes payable to a state or other government entity, if applicable. Should We advance any amount so due, We are not waiving any right to collect such amount
at a later date. The Company will deduct any withholding taxes required by applicable law. 
  
 WRITTEN NOTICE 
  
 Any notice We send to You will be sent to Your address shown in the Application Form unless You request otherwise. Any written request or notice to Us must be
sent to Our Annuity Service Center, at the address specified on the Contract Data Page. 
  
 PERIODIC REPORTS 
  
 During each Contract Year, We will send You quarterly statements of the account activity of the Contract as well as confirmation reports after each financial
transaction. The statement will include all transactions which have occurred during the quarterly accounting period shown on the statement. 
  
 INCONTESTABILITY 
  
 This Contract will be incontestable from the Contract Date. 
  
 NONPARTICIPATING 
  
 This Contract does not share in
Our surplus. 
 

 9 

  
 PURCHASE PAYMENT PROVISIONS 
  

PURCHASE PAYMENTS 
  
 Purchase Payments are flexible. This means that, subject to
Company declared minimums and maximums, You may change the amounts, frequency and/or timing of Purchase Payments. Purchase Payments will be allocated to the Fixed Account Option(s) and/or one or more Subaccount(s) in accordance with instructions
from You. The minimum amount that may be allocated to the Fixed Account Option or a Subaccount under this Contract is [$100]. 
  
 SUBSTITUTION OF
INVESTMENT PORTFOLIO 
  
 If: (a) the shares of the Underlying Fund(s) in which the Subaccounts invest should no longer be available for
investment by the Separate Account; or (b) in the judgment of the Board of Trustees further investment in the shares of a Subaccount is no longer appropriate in view of the purpose of the Contract, then We may substitute shares of another Underlying
Fund for shares already purchased, or to be purchased in the future by Purchase Payments under the Contract. No substitution of securities may take place without prior approval of the Securities and Exchange Commission and under such requirements as
it may impose. 
  
 ACCUMULATION PROVISIONS 
  
 SEPARATE ACCOUNT ACCUMULATION VALUE 
  
 The Separate Account Accumulation Value under the
Contract shall be the sum of the values of the Accumulation Units held in the Subaccounts for the Owner. 
  
 NUMBER OF ACCUMULATION UNITS

  
 Your Contract is credited with Accumulation Units of the Separate Account when amounts are allocated to the Subaccount(s). For that
portion of each Purchase Payment and/or transfer amount allocated to a Subaccount, the number of Accumulation Units credited is equal to the sum of each Purchase Payment and/or transfer amount allocated to that Subaccount reduced by premium taxes,
if any: 
  
 Divided by 
  
 The
Accumulation Unit value for that Subaccount for the NYSE business day in which the Purchase Payment or transfer amount is allocated. 
  
 The
number of Accumulation Units will be reduced for withdrawals of Contract Value, annuitizations, amounts transferred out of a Subaccount, the Contract Administration Charge and any optional charge(s) deducted . Reductions will be made as of the end
of the NYSE business day in which We receive all requirements for the transaction, as appropriate. 
  
 ACCUMULATION UNIT VALUE (AUV)

  
 The AUV of a Subaccount for any NYSE business day is calculated by subtracting (2) from (1) and dividing the result by (3) where:

  

	(1)
	 
	is the total value at the end of the given NYSE business day of the assets attributable to the Accumulation Units of the Subaccount minus the total liabilities;

 

  

	(2)
	 
	is the cumulative unpaid charge for assumption of the Separate Account Charge and any optional election charges deducted on a daily basis. (SEE CHARGES AND
DEDUCTIONS); 
 

  

	(3)
	 
	is the number of Accumulation Units outstanding at the end of the given NYSE business day. 
 

 

 10 

  
 FIXED ACCOUNT ACCUMULATION VALUE 
 Under a Contract, the Fixed Account Accumulation Value shall be the sum of all monies allocated or transferred to the Fixed Account Option(s), reduced by any applicable premium taxes, plus all interest credited on the Fixed Account
Option(s) during the period that the Contract has been in effect. This amount shall be adjusted for withdrawals (which includes any applicable charges associated with such withdrawals), annuitizations, transfers, any applicable MVA on such
transactions, the Contract Administration Charge and any optional charges. The Fixed Account Accumulation Value shall not be less than the minimum values required by law in the state where this Contract is issued. 
  
 FIXED ACCOUNT GUARANTEE PERIOD OPTIONS AND INTEREST CREDITING 
 Any amounts allocated to the
Fixed Account Options from the initial Purchase Payment will earn interest at the Initial Interest Rate for the Fixed Account Option(s) selected for the duration of the Guarantee Period. 
  

Subsequent Purchase Payments, if any, allocated to the Fixed Account Options will earn interest at the Current Interest Rate for the Fixed Account Option(s) selected for the duration of the
Guarantee Period. 
  
 Transfers to applicable Fixed Account Option(s) and amounts renewing in the Fixed Account Option(s) will earn interest
at the Renewal Interest Rate for the Fixed Account Option(s) selected for the duration of the Guarantee Period. 
  
 For thirty (30) days
following the date of expiration of a Guarantee Period, You may renew for the same Guarantee Period at the Renewal Interest Rate or You may transfer all or a portion of the amount to the Subaccounts and/or any other available Fixed Account
Option(s). If You do not specify a Guarantee Period at the time of renewal, We will select the same Guarantee Period as has just expired, crediting the Contract with the Renewal Interest Rate in effect on the date of expiration of the Guarantee
Period. [If a renewal occurs within one year of the Annuity Date, We will credit interest up to the Annuity Date at the Renewal Interest Rate for the 1-Year Fixed Non-MVA Account Option]. 
  

MARKET VALUE ADJUSTMENT (MVA) 
 Any payments and values based on a Fixed MVA Account Option may be subject to an MVA, the
operation of which may result in upward or downward adjustments in the Contract Value, if withdrawn, transferred or annuitized prior to the end of the respective Guarantee Period. The MVA will be calculated by multiplying the amount withdrawn,
transferred or annuitized from a Fixed MVA Account Option by the following formula: 
  
 {(1 + I)/(1+J+0.0025)}N/12 -1 
  
 I = The interest rate currently in effect for that Guarantee Period. 
  
 J = The Initial Interest Rate available for the
Guarantee Period equal to the number of years (rounded up to an integer) remaining in the current Guarantee Period at the time of withdrawal, transfer or annuitization. In the determination of J, if the Company currently does not offer the
applicable Guarantee Period, then the rate will be determined by linear interpolation of the Initial Interest Rate for the nearest two Guarantee Periods that are available. 
  
 N = The number of full months remaining in the current Guarantee Period at the time the withdrawal, transfer or annuitization request is processed. 
  

If a Withdrawal Charge is applied to a withdrawal, then the MVA will be applied to the withdrawal amount net of the Withdrawal Charge. 
 

 11 

  
 There will be no MVA on withdrawals from the Fixed MVA Account Option(s) in the following situations:
(1) to pay a Death Benefit upon death of the Owner; (2) on amounts withdrawn to pay fees or charges in the Contract; (3) on amounts withdrawn, or transferred from any of the Fixed MVA Account Options within thirty (30) days after the end of the
Guarantee Period; (4) on annuitizations on the Latest Annuity Date; (5) on amounts withdrawn from the DCA Fixed Account Options. 
  
 CHARGES AND DEDUCTIONS 
  
 We will deduct the following charges from the Contract: 
  
 CONTRACT ADMINISTRATION CHARGE 
 The charge specified on the Contract Data Page will be
deducted on each Contract anniversary that occurs on or prior to the Annuity Date. It will also be deducted when the Contract Value is withdrawn in full if the withdrawal is not on the Contract anniversary. We reserve the right to assess a charge on
a class basis which is less than the charge specified on the Contract Data Page. This charge is not deducted when the Contract Value is greater than [$50,000]. 
  
 SEPARATE ACCOUNT CHARGE 
 This charge, as shown on the Contract Data Page, on an annualized basis equals a percentage of the average daily ending value of
the assets attributable to the Accumulation Units of the Subaccount(s) to which the Contract is allocated. This charge compensates Us for mortality and expense risks and distribution expenses associated with the Contract. We subtract this charge
daily. We reserve the right to assess a charge on a class basis which is less than the charge specified on the Contract Data Page. 
  
 TRANSFER PROVISIONS 
  
 Prior to the Annuity Date, You may transfer all or part of Your Contract Value from any
Subaccount to any of the Subaccounts or Fixed Account Options subject to certain restrictions. The minimum amount that can be transferred is [$100] and the minimum amount that can remain in a Subaccount or a Fixed Account Option is [$100], or $0 in
the case of a full transfer. 
  
 TRANSFERS OF ACCUMULATION AND ANNUITY UNITS BETWEEN SUBACCOUNTS 
 Prior to and after the Annuity Date, You may transfer all or a portion of Your Contract Value from one Subaccount to another Subaccount. Before the Annuity Date, a transfer will result in the
redemption of Accumulation Units in a Subaccount and the purchase of Accumulation Units in the other Subaccount(s). Transfers will be effected at the end of the NYSE business day in which We receive Your completed request for the transfer. After the
Annuity Date, a transfer will result in the redemption of Annuity Units in a Subaccount and the purchase of Annuity Units in the other Subaccount(s). Transfers will be effected at the end of the NYSE business day on the first day of the month
following receipt of the transfer request. 
  
 TRANSFERS OF ACCUMULATION UNITS TO AND FROM THE FIXED ACCOUNT 
 Prior to the Annuity Date, You may transfer all or any part of Your Contract Value from the Subaccount(s) to any Fixed Account Option(s) other than the DCA Fixed Account Options or from the Fixed
Account Option(s) to the Subaccount(s) and/or any other available Fixed Account Option(s) other than the DCA Fixed Account Options of the Contract. Transfers from the Fixed Account Option(s) may be subject to a Market Value Adjustment as discussed
in the Market Value Adjustment Provision. 
  
 After the Annuity Date, transfers into or out of the Fixed Account Option(s) are not allowed.

 

 12 

  
 WITHDRAWAL PROVISIONS 
  

On or before the Annuity Date and while the Owner is living, You may withdraw all or part of Your Contract Value under this Contract by informing Us at Our Annuity Service Center. For a full
withdrawal, this Contract must be returned to Our Annuity Service Center. The minimum partial withdrawal amount is [$1,000] and the minimum amount that must remain in the Contract after any partial withdrawal is [$500]. 
  
 Without a written notice to the contrary, withdrawals will be deducted from the Contract Value in proportion to their allocation among the Fixed Account Options
and the Subaccounts. Withdrawals will be based on values for the NYSE business day in which the request for withdrawal and the Contract (in the case of a full withdrawal), are received at the Annuity Service Center. Unless the SUSPENSION OF PAYMENTS
or DEFERMENT OF PAYMENTS sections are in effect, payment of withdrawals will be made within seven calendar days. 
  
 WITHDRAWAL CHARGE

 Withdrawals of all or a portion of the Contract Value may be subject to a Withdrawal Charge as shown in the table below. This charge may be deducted upon withdrawal of any
portion of the Contract Value. The Withdrawal Charge percentage applied to any withdrawal will depend on how long the Purchase Payment to which the withdrawal is attributed has been in the Contract. No Withdrawal Charge is made on an amount
withdrawn which is considered to be a withdrawal of penalty-free earnings. 
  
 For the purpose of determining the Withdrawal Charge on, a
withdrawal will be attributed to amounts in the following order: (1) penalty-free earnings in the Contract; (2) Purchase Payments which are both no longer subject to the Withdrawal Charge and are not yet withdrawn; (3) any remaining Penalty-Free
Withdrawal amount (except in the case of a full surrender); and (4) Purchase Payments subject to a Withdrawal Charge. Purchase Payments, when withdrawn, are assumed to be withdrawn on a first-in-first-out (FIFO) basis. You will not receive the
benefit of a Penalty-Free Withdrawal in a full surrender. 
  
 
	 Number of full Years Elapsed
 Between Purchase Payment Contribution
 And Date of Withdrawal
 	    	 Withdrawal Charge as a
 Percentage of Withdrawn
 Purchase Payment
 
	 0
 	    	 7%
 
	 1
 	    	 6%
 
	 2
 	    	 5%
 
	 3+
 	    	 0%
 

 
  
 The Withdrawal Charge will be assessed against the Subaccounts and the Fixed Account
Options in the same proportion that the remaining Contract Value is allocated unless You request that the withdrawal come from a particular Fixed Account Option or Subaccount. After a Withdrawal is taken, the remaining Contract Value must be
sufficient to cover any Withdrawal Charge remaining upon full surrender of the Contract. 
  
 PENALTY-FREE WITHDRAWALS 
 As of any day, You may make a withdrawal of up to the Penalty-Free Withdrawal amount for that day without incurring a Withdrawal Charge. Any Penalty-Free Withdrawal made in excess of penalty-free
earnings in the Contract is considered to be a withdrawal of future penalty-free earnings and is therefore not a withdrawal of the Total Invested Amount. On any day, penalty-free earnings in the Contract are calculated as the Contract Value at the
end of that day less the Total Invested Amount. 
  
 During the first Contract Year, the Penalty-Free Withdrawal amount is equal to the
penalty-free earnings in the Contract as of the date of withdrawal. 
 

 13 

 Alternatively, during the first Contract Year, You may make withdrawals of the Penalty-Free Withdrawal amount through the Systematic Withdrawal
Program. The Penalty-Free Withdrawal amount as of any systematic withdrawal date is 10% of the Total Invested Amount less any withdrawals already made during the Contract Year. 
  
 After the first Contract Year, the maximum Penalty-Free Withdrawal amount as of the date of the withdrawal is the greater of: 
  

	 	(a)
	 
	penalty-free earnings in the Contract as of that date; or 
 

  

	 	(b)
	 
	10% of the Total Invested Amount on deposit for at least one year, less any withdrawals already made during the year. 
 

 
 Although amounts withdrawn in accordance with the Penalty-Free Withdrawal provision may reduce principal, they do not reduce the Total Invested Amount
for purposes of calculating the Withdrawal Charge or for the purposes of calculating penalty-free earnings in the Contract. As a result, You will not receive the benefit of a Penalty-Free Withdrawal in a full surrender. 
  
 SYSTEMATIC WITHDRAWAL PROGRAM 
  
 Prior to
the Annuity Date, You may elect to participate in the Systematic Withdrawal Program by informing Us at Our Annuity Service Center. The Systematic Withdrawal Program allows You to make automatic withdrawals from Your account monthly, quarterly,
semiannually or annually. The minimum systematic withdrawal amount is [$100]. Any amount withdrawn through the Systematic Withdrawal Program may be subject to a Withdrawal Charge and/or a Market Value Adjustment as discussed in the WITHDRAWAL
CHARGE, PENALTY-FREE WITHDRAWALS and MARKET VALUE ADJUSTMENT provisions. You may terminate Your participation in the Systematic Withdrawal Program at any time by sending Us a written request. We reserve the right to modify, suspend or terminate the
Systematic Withdrawal Program at any time. 
  
 Systematic withdrawals will be deducted from the Penalty-Free Withdrawal amount available
each Contract Year. 
  
 DEATH PROVISIONS 
  
 Notwithstanding any provision of this Contract to the contrary, all payments of benefits under this Contract will be made in a manner that satisfies the requirements of IRC Section 72(s), as amended
from time to time. If the Contract is owned by a trust or other non-natural person, We will treat the death of any Annuitant as the death of the “Primary Annuitant”, as defined in IRC Section 72(s)(6), as the death of any Owner.

  
 DUE PROOF OF DEATH 
  
 Due Proof of Death means: 
  

	 	1.
	 
	a certified copy of a death certificate; or 
 

  

	 	2.
	 
	a certified copy of a decree of a court of competent jurisdiction as to the finding of death; or 
 

  

	 	3.
	 
	a written statement by a medical doctor who attended the deceased Owner at the time of death; or 
 

  

	 	4.
	 
	any other proof satisfactory to Us. 
 

  
 DEATH OF OWNER BEFORE THE ANNUITY DATE 
  
 We will pay a death benefit to the Beneficiary upon Our receiving: (a) due
proof that the Owner died before the Annuity Date, (b) an election form specifying the payment option and (c) any other documentation We may require. Unless You have previously designated a payment option on behalf of the Beneficiary, the
Beneficiary must select one of the following payment options: 
 

 14 

  

	 	1.
	 
	Immediately collect the death benefit in a lump sum. If a lump sum payment is elected, payment will be in accordance with any applicable laws and regulations
governing payments and death; or 
 

  

	 	2.
	 
	Collect the death benefit in the form of one of the Annuity Payment Options. If an Annuity Payment Option is desired, an option must be elected within 60 days
of Our receipt of: (a) Due Proof of Death of the Owner; (b) an election form specifying the payment option and (c) any other documentation We may require. The payments must be over the life of the Beneficiary or over a period not extending beyond
the life expectancy of the Beneficiary. Payments under this death benefit option must commence within one year after the Owner’s death, otherwise, the death benefit will be paid in accordance with death benefit option 1; or 

  

	 	3.
	 
	If eligible, continue the Contract as a Spousal Beneficiary. On the Continuation Date, We will contribute to the Contract any amount by which the Death Benefit
exceeds the Contract Value, calculated as of the Owner’s date of death. This amount is not considered a Purchase Payment. If an amount is contributed on the Continuation Date, then upon death of the Spousal Beneficiary the subsequent death
benefit will be calculated as if the Contract was issued to the Spousal Beneficiary on the Continuation Date. Otherwise, the death benefit payable upon death of the Spousal Beneficiary will be calculated as if the Contract was issued to the Spousal
Beneficiary on the original Contract Date. 
 

  
 You cannot change any elected death benefit option
specified on the Contract Data Page. Your Spousal Beneficiary may discontinue any elected death benefit option on the Continuation Date. Upon the Spousal Beneficiary’s death, the entire interest of the Contract must be distributed immediately
under option 1 or 2 as provided under DEATH OF OWNER BEFORE THE ANNUITY DATE. 
  
 In any event, the entire interest in the Contract
will be distributed within five years from the date of death of the Owner unless payment option 2 or 3 as provided under DEATH OF OWNER BEFORE THE ANNUITY DATE is elected. 
  

AMOUNT OF DEATH BENEFIT 
  
 The death benefit is equal to the greater of:

  

	 	1.
	 
	the Contract Value at the end of the NYSE business day during which We receive, at Our Annuity Service Center, due proof of the Owner’s death and an
election of the type of payment to be made; Or 
 

  

	 	2.
	 
	Net Purchase Payments. 
 

  
 DEATH OF OWNER OR ANNUITANT ON OR AFTER THE ANNUITY DATE 
  
 If any Owner or Annuitant dies on or after the Annuity
Date and before the entire interest in the Contract has been distributed, We will pay the remaining portion of the interest of the Contract under the Annuity Payment Option being distributed on the date of death upon Our receipt of Due Proof of
Death. For further information pertaining to death of the Annuitant, see ANNUITY PAYMENT OPTIONS. 
  
 BENEFICIARY 

 
 The Beneficiary is selected by the Owner. While (a) the Owner is living; and (b) before the Annuity Date, the Owner may change the Beneficiary by
written notice in a form satisfactory to Us. A change in Beneficiary will take effect on the date the notice of change was signed. Such change, however, will not apply to any payment or action taken by Us before the notice was received at Our
Annuity Service Center. If two or more persons are named, (a) those surviving the Owner will share equally unless otherwise stated; and (b) the Beneficiaries must elect to receive their respective portions of the death benefit according to the
options listed under DEATH OF 
 

 15 

 OWNER BEFORE THE ANNUITY DATE. If the Annuitant survives the Owner, and there are no surviving Beneficiaries, the Annuitant will be deemed the
Beneficiary. 
  
 Joint Owners, if applicable, shall be each other’s primary Beneficiary. Joint Annuitants, if any, when the Owner is a
non-natural person, shall be each other’s primary Beneficiary. Any other Beneficiary designated on the Application will be treated as a contingent Beneficiary. 
  
 If the Owner is also the Annuitant and there are no surviving Beneficiaries at the death of the Owner, the death benefit will be paid to the estate of the Owner in accordance with option 1, under DEATH
OF OWNER BEFORE THE ANNUITY DATE. 
  
 ANNUITY PROVISIONS 
  

ANNUITY DATE 
  
 The Owner specifies an anticipated Annuity Date (the date
on which annuity payments are to begin). The date provided by the Owner to Us at the time of application is shown on the Contract Data Page as the Specified Annuity Date. The Owner may change the Specified Annuity Date at any time, at least seven
days prior to the Annuity Date, by written notice to the Company at its Annuity Service Center. The Annuity Date must always be the first day of the calendar month and must be at least two years after the Contract Date, but not beyond the later of
the Owner’s 90th birthday or ten years after the Contract Date. If the Owner is a non-natural person, the latest Annuity Date is the later of the Annuitant’s 90th birthday or ten years after the Contract Date. If no Annuity Date is
specified, the Annuity Date will be the latest Annuity Date, as set by the Company. 
  
 PAYMENTS TO OWNER 
  
 Unless You request otherwise, We will make annuity payments to You. If You want the annuity payments to be made to some other Payee, We will make such payments
subject to receipt of a written request filed at the Annuity Service Center no later than thirty (30) days before the due date of the first annuity payment. 
  
 Any such request is subject to the rights of any assignee. No payments available to or being paid to the Payee while the Annuitant is alive can be transferred, commuted, anticipated or encumbered. 
  
 FIXED ANNUITY PAYMENTS 
  
 If a Fixed Annuity
payment option has been elected, the proceeds payable under this Contract less any applicable premium taxes, shall be applied to the payment of the Fixed Annuity payment option elected at rates which are at least equal to the annuity rates as
specified under the BASIS OF COMPUTATION FOR FIXED ANNUITY PAYMENTS. In no event will the Fixed Annuity payments be changed once they begin. 
  
 AMOUNT OF FIXED ANNUITY PAYMENTS 
  
 The amount of each Fixed Annuity payment will be determined by applying the
portion of the Contract Value allocated by You for Fixed Annuity payments less any applicable premium taxes to the annuity table applicable to the Fixed Annuity payment option chosen. 
  
 BASIS OF COMPUTATION FOR FIXED ANNUITY PAYMENTS 
  
 The actuarial basis for Fixed
Annuity payments is the 1983a Annuity Mortality Table with projection and a guaranteed interest rate of 3%. The mortality table is projected using Projection Scale G factors to the year of annuitization . 
  
 AMOUNT OF VARIABLE ANNUITY PAYMENTS 
  

	(a)
	 
	FIRST VARIABLE ANNUITY PAYMENT: The dollar amount of the first Variable Annuity payment will be determined by applying the portion of the Contract Value
allocated by You to the Subaccount(s), 
 

 

 16 

 less any applicable premium taxes, to the annuity table applicable to the Variable Annuity payment option chosen. If the
Contract Value is allocated to more than one Subaccount, the value of Your interest in each Subaccount is applied separately to the annuity table to determine the amount of the first annuity payment attributable to each Subaccount. 

 

	(b)
	 
	NUMBER OF VARIABLE ANNUITY UNITS: The number of Annuity Units for each applicable Subaccount is the amount of the first annuity payment attributable to that
Subaccount divided by the value of the applicable Annuity Unit for that Subaccount as of the Annuity Date. The number will not change as a result of investment experience. 
 

  

	(c)
	 
	VALUE OF EACH VARIABLE ANNUITY UNIT: The value of an Annuity Unit may increase or decrease from one month to the next. For any month, the value of an Annuity
Unit of a particular Subaccount is the value of that Annuity Unit as of the last NYSE business day of the preceding month, multiplied by the Net Investment Factor for that Subaccount for the last NYSE business day of the current month. 

  
 The Net Investment Factor for any Subaccount for a certain month is determined by dividing (1) by (2) where: 

 

	 	(1)
	 
	is the Accumulation Unit Value of the Subaccount determined as of the last business day at the end of that month, and 
 

 

	 	(2)
	 
	is the Accumulation Unit Value of the Subaccount determined as of the last business day at the end of the preceding month. 
 

 
 The result is then multiplied by a factor that neutralizes the assumed investment rate of 3.5%. 
  

	(d)
	 
	SUBSEQUENT VARIABLE ANNUITY PAYMENTS: After the first Variable Annuity payment, payments will vary in amount according to the investment performance of the
applicable Subaccount(s) to which Your Purchase Payments are allocated. The amount may change from month to month. The amount of each subsequent payment for each Subaccount is: 
 

  

The number of Annuity Units for each Subaccount as determined for the first annuity payment 
  
 Multiplied by 
  
 The value of an Annuity Unit for that Subaccount at the end of the month immediately preceding the
month in which payment is due. 
  
 We guarantee that the amount of each Variable Annuity payment will not be affected by variations in
expenses or mortality experience. 
  
 BASIS OF COMPUTATION FOR VARIABLE ANNUITY PAYMENTS 
  
 The actuarial basis for Variable Annuity payments is the 1983a Annuity Mortality Table with projection and an effective annual Assumed Investment Rate of 3.5%.
The mortality table is projected using Projection Scale G factors to the year of annuitization. 
 

 17 

 ANNUITY PAYMENT OPTIONS 
  
 During the Annuitant’s life, upon written election and the return of this Contract to the Company at its Annuity Service Center, the Contract Value may be applied to provide one of the following options or any annuity payment
option that is mutually agreeable. After two years from the Contract Date, and prior to the Annuity Date, You can choose one of the options described below. If no option has been selected by the Annuity Date, You will automatically receive option 4,
below, with 120 monthly payments guaranteed. 
  
 OPTIONS 1—LIFE ANNUITY, LIFETIME MONTHLY PAYMENTS GUARANTEED 
  
 Payments payable to a Payee during the lifetime of the Annuitant. No further payments are payable after the death of the Annuitant. 
  
 OPTIONS 2—JOINT AND SURVIVOR LIFE ANNUITY 
  
 Payments payable to the Payee during the lifetime of the Annuitant and during the lifetime of a designated second person. No further payments are payable after the deaths of both the Annuitant and the designated second person.

  
 OPTIONS 3—JOINT AND SURVIVOR LIFE ANNUITY—120 OR 240 MONTHLY PAYMENTS GUARANTEED 
  
 Payments are payable to the Payee during the lifetime of the Annuitant and during the lifetime of a designated second person. If, at the death of the survivor,
payments have been made for less than 120 or 240 monthly periods, the remaining guaranteed annuity payments will be continued to the Beneficiary. 
  
 OPTIONS 4—LIFE ANNUITY WITH 120 OR 240 MONTHLY PAYMENTS GUARANTEED 
  
 Payments payable to the Payee during the
lifetime of the Annuitant. If, at the death of the Annuitant, payments have been made for less than the 120 or 240 monthly periods, as selected at the time of annuitization, the remaining guaranteed annuity payments will be continued to the
Beneficiary. 
  
 OPTIONS 5—FIXED PAYMENTS FOR A SPECIFIED PERIOD CERTAIN 
  
 Payments are payable to the Payee for any specified period of time of five (5) years or more, but not exceeding thirty (30) years, as selected at the time of annuitization. The selection must be made
for full twelve-month periods. In the event of death of the Annuitant, any remaining annuity payments will be continued to the Beneficiary. If Variable Annuity Payments are elected under this Annuity Payment Option, any remaining guaranteed Variable
Annuity payments may be redeemed for a discounted value determined by Us. Any applicable Withdrawal Charges will be deducted from the discounted value as if You fully surrendered Your Contract. 
 

 18 

 First SunAmerica Life Insurance Company 
 A STOCK COMPANY LOS ANGELES, CALIFORNIA 
  
 INDIVIDUAL FIXED AND 
 VARIABLE ANNUITY CONTRACT 
  
 Nonparticipating 
 

 19

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00041-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00041-of-00352.parquet"}]]